MANILA, Philippines — The peso exchange rate stands at P43.33 to the US dollar, the closing rate on Thursday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P43.364.

Tele Tech opens 13th B.P.O. facility

TeleTech Holdings, Inc., one of the largest BPO solutions providers in the country, recently reaffirmed its commitment to staying in the Philippines as it inaugurated its 13th site at the Robinsons Corporate Center, Pioneer St., Mandaluyong City.

The site is expected to employ 1,200 employees by year end. “The opening of our Mandaluyong site is a tactical step to further improve the global support of the Philippines in providing TeleTech services worldwide. TeleTech as a company is growing and growing fast,” said Tim Hinds, TeleTech vice president for human capital.

P.N.B. redeeming P5.5-billion notes

Philippine National Bank is exercising its call option to redeem all the outstanding P5.5 billion worth of 10 percent unsecured subordinated bonds it issued in August 10, 2006.

In a disclosure to the Philippine Stock Exchange, PNB acting corporate secretary Doris Te said the redemption is subject to the approval of the Monetary Board of the Bangko Sentral ng Pilipinas and in accordance with the terms and conditions of the notes issue.

The bank said it will pay the noteholders the face value of the notes plus accrued interest at the interest rate agreed upon. The call option date has been set on August 11, 2011 as it is the last day of the 20th interest period from issue date. (JAL)

S.G.X. starting all-day trading

SINGAPORE (dpa) – Singapore Exchange Ltd (SGX), one of Asia's biggest bourse operators, on Thursday said it would scrap its lunchtime break and offer all-day stock trading from August 1.

The move would bring the Singapore exchange in line with other markets including bourses in South Korea, India and Australia, and stock markets in New York and London that already trade all day, the company said. ''By embracing trading hours which are aligned with those of other key markets, Singapore will make further progress as an international financial hub,'' chief executive Magnus Bocker said.

P.D.I.C. warns versus text scams

The Philippine Deposit Insurance Corp. (PDIC) has warned the public against falling prey to text scams regarding winning in PDIC raffles. PDIC has stressed that it does not conduct raffles nor award raffle prizes to the public.

"However, it has come to our attention that text scammers using fictitious names pose as government officials and send fraudulent congratulatory text messages that the recipient had won in a raffle allegedly sponsored by the PDIC," said PDIC in a statement. (EHL)