MANILA, Philippines — The peso exchange rate closed lower at P42.835 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P42.64 the previous day. The weighted average rate depreciated to P42.841 from P42.734. Total volume amounted to $1.324.95 billion.

8 banks to sell R.T.B.S

The Bureau of the Treasury named eight banks to help it sell retail trade bonds targeted at individual investors, the agency said on its website. The list includes BDO Capital Corp., BPI Capital Corp., Detusche Bank AG and First Metro Investment Corp.

Also to help arrange the sale are China Banking Corp., Development Bank of the Philippines, Land Bank of the Philippines and Philippine National Bank, the Treasury said. An investors’ briefing for the sale of retail bonds due 2027 and 2032 will be held on Feb. 21, it said.

Philweb declares cash, stock dividends

The board of directors of PhilWeb Corp. declared a cash dividend of P0.10 per share, payable on March 16, 2012 to stockholders of record as of March 1, 2012. The dividend payment will amount to a total of P126.15 million.

The board also declared a 20 percent stock dividend, payable on May 30, 2012 to stockholders as of May 4, 2012. In the same meeting, PhilWeb elected Michael T. Grandinetti, currently president of PhilWeb Asia Pacific Corp., as new director.

PhilWeb will hold is annual stockholders’ meeting on April 19, 2012. The Philippine Stock Exchange was fully advised of these developments, the firm said.

Michael Tan New Eton President

Eton Properties Philippines Inc. President Danilo Ignacio’s contract will expire on Feb. 29, the builder said in a disclosure to the stock exchange.Eton said Michael Tan will be officer in charge of the company pending the announcement of a new president.

Kodak ends Oscars Naming right

LOS ANGELES (AP) – One big name that likely won't be at this year's Oscars: Kodak.

The Eastman Kodak Co. received court approval Wednesday to end its sponsorship deal with the Hollywood theater that is the venue for the Academy Awards. Kodak signed a $74-million deal for naming rights to the theater in 2000.

But the struggling photography company filed for bankruptcy protection last month and wanted to end its contract for naming rights of the glamorous Los Angeles theater as it tries to improve its finances.