MANILA (Xinhua): The Philippines Senate on Wednesday (May 31) approved a bill establishing the Maharlika Investment Fund (MIF), the country's first-ever sovereign investment fund.
With 19 affirmative votes, one negative and one abstention, the senators approved the bill after nearly 13 hours of marathon deliberation. The approval came almost one week after Philippine President Ferdinand Romualdez Marcos certified the passage of the proposed bill at the Senate as "urgent."
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