This year’s Globe Cordillera Challenge 4 broke all records of previous years—has the longest route at 65 kilometers; more than 400 bikers joined; and a young 17-year-old student beat them all to the finish line.
Most local stocks took a respite Friday after the massive bloodbath seen in the last few days, tracking the rebound across regional markets.
The transportation department is postponing the bidding for the P60-billion LRT Line 1 Cavite extension and operation project to the end of next month from June 17 to give participating groups additional time, a regulatory filing Friday showed.
Sentiment of Filipino consumers improved in the second quarter, with their confidence reading hitting the highest on record, as the economy’s encouraging performance and investment-grade credit rating made households felt they were better off than in the recent past.
The National Grid Corp. of the Philippines (NGCP) on Friday said that it started a new transmission line project in Cebu province to support economic activities in the fast-growing area.
Local shares suffered another day of sharp losses on Thursday as foreign funds stepped up their pullout from the region amid investor worries the US Federal Reserve would scale back its huge bond-buying program that have propped up global stock markets.
The Bangko Sentral ng Pilipinas on Thursday kept the interest rates on special deposit accounts (SDAs) as well as those for its overnight borrowing and lending unchanged.
Vehicle sales rose by 23 percent in the first five months of the year to 72,988 units, from the 59,174 sold in the same period of 2012.
The Bangko Sentral ng Pilipinas is seen favoring a weakening of the peso against the dollar following the double-digit decline in export receipts and the higher jobless rate posted by the country in April.
Some bargain-hunting is expected to lift the local stock market as the sharp decline on Tuesday has cheapened many issues. Financial markets were closed yesterday due to a national holiday.
Local stocks on Tuesday saw their worst bloodbath in 12 years as investors were shifting some funds back to the US markets.
Conglomerate San Miguel Corp. has finalized a P12.2-billion deal to sell a controlling stake in Bank of Commerce to Malaysian banking giant CIMB, after resolving property ownership-related snags that had delayed the closing of the deal.
