Peso up as efforts to fix Euro debt lift sentiments on global economy
By: Michelle V. RemoThe peso inched up on Tuesday as efforts to resolve debt woes in the Euro zone lifted sentiment for emerging markets in general.
The peso inched up on Tuesday as efforts to resolve debt woes in the Euro zone lifted sentiment for emerging markets in general.
(UPDATE) The Court of Appeals has denied the petition of Banco Filipino Savings & Mortgage Bank (BF) to be reopened after being ordered closed by the Bangko Sentral ng Pilipinas earlier this year.
Asian stocks were mostly higher on Tuesday following a report that Japan’s factory output rebounded from a record drop following the devastating earthquake and tsunami.
State-owned Development Bank of the Philippines announced a double-digit rise in net income in the first four months, crediting lending to priority sectors as one of the key drivers of profit expansion.
Local beer giant San Miguel Brewery is opening up four new bottling plants in Laguna, Isabela, Bicol and Cayagan de Oro worth about $100 million this year, thereby expanding its bottling capacity by 30 percent.
Security Bank Corp. has sealed a joint venture agreement with Japanese firm Marubeni Corp. to put up a leasing company, a move corporate officials said was consistent with the bank’s expansion mode, company officials announced on Tuesday.
Local stocks pulled back sharply on Tuesday, led by telecom giant PLDT which was battered by concerns over rising opposition to its acquisition of Digitel.
TOKYO—Japan’s unemployment rate rose to 4.7 percent in April, up 0.1 percentage points from a month earlier, with figures from the disaster-hit northeast excluded, the government said Tuesday. The number of jobless people stood at 3.09 million, down 300,000 from a year earlier, in the 11th straight month of year-on-year decline, the official data showed. [...]
MANILA, Philippines—Barclays Capital is maintaining its growth forecast of 5 percent for the Philippines in 2011 despite the first-quarter performance settling lower than it expected. The National Statistical Coordination Board reported a 4.9-percent growth rate for January-March, but Barclays Capital expected 5.1 percent. Even then, the investment bank said in a research note that first-quarter [...]
MANILA, Philippines—Pilipinas Shell Petroleum Corp. has decided to hike prices of unleaded gasoline by 50 centavos a liter and of regular gasoline and diesel by 25 centavos a liter. These price movements will take effect at 12:01 a.m. on Tuesday. The price of Shell’s Shellane liquefied petroleum gas, however, has been pulled down by P2.50 [...]
MANILA, Philippines — Therma Mobile Inc., a wholly owned subsidiary of Aboitiz Power Corp., has purchased four power barges from Duracom Mobile Power Corp. and East Asia Diesel Power Corp. In a disclosure to the Philippine Stock Exchange on Monday, Aboitiz Power corporate secretary M. Jasmine Oporto said the acquisition included the floating power generators’ [...]
HONG KONG—Asian shares mostly fell Monday as bargain hunting was weighed by uncertainty over European debt, while key upcoming data and holidays in two of the world’s major markets combined to dampen enthusiasm. Tokyo fell 0.18 percent, or 16.97 points, to 9,504.97, Seoul was off 0.31 percent, or 6.45 points, at 2,093.79 and Sydney lost [...]
