Asian markets up ahead of ECB lending move
By Danny McCordAsian markets mostly extended gains Wednesday on optimism ahead of another ECB refinancing operation while US stocks provided a strong cue after closing at a near four-year high.
Asian markets mostly extended gains Wednesday on optimism ahead of another ECB refinancing operation while US stocks provided a strong cue after closing at a near four-year high.
Land Bank of the Philippines said it would open 20 new branches this year to reach areas that were deemed underserved by the banking industry.
The peso strengthened on Wednesday as favorable manufacturing data in some neighboring countries boosted expectations that Asian economies would post decent growth rates in 2012 even as the prolonged debt crisis in the eurozone has partly dampened their growth prospects.
Global air passenger traffic rose by 5.7 percent in January from the level 12 months earlier, but freight activity fell by 8.0 percent, the International Air Transport Association said on Wednesday.
Local stocks rallied on Wednesday as global risk appetite was boosted by favorable economic data from the US and a fresh liquidity-pumping measure by the European Central Bank.
A team of scientists and doctors from the University of Sto. Tomas said Wednesday a clinical study they conducted showed that taking virgin coconut oil, or VCO, had beneficial effects on one’s cholesterol level.
The Philippine Stock Exchange has agreed to delist Digital Telecommunications Phils. Inc. (Digitel) from its roster effective March 26 in light of its acquisition by Philippine Long Distance Telephone Co.
Asian stock markets rose Wednesday, powered higher by the strongest close for US stocks since before the 2008 financial crisis.
San Miguel Corp.-backed Citra Metro Manila Tollways Corp. (CMMTC) said only “ambitious” projects, such as its proposed overhead toll road, could solve big problems like the chronic congestion of Metro Manila’s thoroughfares.
The Bureau of Internal Revenue collected P924.1 billion in 2011, falling short of its target by 1.7 percent, or P15.9 billion.
Talks about the group of Manuel V. Pangilinan buying out broadcasting giant GMA Network Inc. have been so pervasive that many stock market pundits now believe there’s some truth to it. This all began when MVP was seen in a serious huddle with GMA chair Felipe Gozon at the wake for the latter’s mother in December, which was followed by a Twitter frenzy that erupted in the show-biz world.
The Philippine manufacturing sector posted a 7.8 percent year-on-year drop in production in December 2011, according to the National Statistics Office.
