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Dollar reserves at all-time high of $ 21.147 B in June
The country’s dollar stock or gross international reserves hit an all-time high of .147 billion as of June, boosted by collaterals released from the repurchase of the 1-million worth of Brady bonds at the end of May.
Local IT/BPO firms eye EU market
Local IT (information technology) and business process outsourcing (IT/BPO) are eyeing to get the first crack of the 8.4 billion Western Europe’s market after gaining confidence from an earlier exposure in the US market.
ERC to set revenue cap on utilities
The Energy Regulatory Commission (ERC) will be submitting to public consultation this July 10 its preliminary calculation of the regulatory weighted average cost of capital (WACC) to be prescribed for distribution utilities.
Time running out for global trade deal
TOKYO (AP) — Time running out for a global trade deal, and the impetus for any breakthrough lies with the world’s major economies, the chief of the World Trade Organization said .
Inflation downtrend seen in 2nd half
Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said inflation is expected to maintain its downtrend in the second half of the year as "pressures" to consumer prices ease.
Export Action Line
On May 28, 2005, I started an 8-article series on the astounding health and nutritional benefits of virgin coconut oil (VCO). The concluding part of the 8-article series appeared in this column on July 23, 2005.
DTI to certify business establishments
Establishments that are free from substandard and counterfeit products and are practicing fair trade practices will be awarded a seal of excellence by the Department of Trade and Industry (DTI) in recognition of their having uphold the rights of consumers and their practice of responsible entrepreneurship.
Franchising evolves as tool for social dev’t
From a model of global competitiveness and an engine of economic growth, franchising has now also evolved as the business sector’s tool for social development.
MARKET TRACK
The benchmark 30-company Philippine Stock Exchange Index (PSEi) edged 79.24 index points closing at 2,258.03 Friday relative to previous week’s close of 2,178.79.
Japan raises GDP growth outlook
TOKYO, July 7 (Reuters) — Japan’s government raised its projections for annual economic growth on Friday, further cementing expectations that the Bank of Japan will raise interest rates next week for the first time in six years.
Fed retools message on policy path
WASHINGTON, July 7 (Reuters) — After many months of hand-holding, the Federal Reserve seems ready to cut financial markets loose — telling investors to parse economic data themselves rather than rely on the US central bank to tell them where interest rates are headed.
Japan forex reserves reach record $ 864.878 B as of June
TOKYO, July 7 (Reuters) — Japan’s official reserves rose for the fourth straight month to a record $ 864.878 billion as of the end of June, the Finance Ministry (MOF) said on Friday.
Asian currencies up but cautious
SINGAPORE, July 7 (Reuters) — Asian currencies rallied on Friday, ending two days of losses, helped by the yen’s recovery and on expectations foreign investors will return to the region’s asset markets as geopolitical risks abate.
P/$ rate closes at P52.35 to
The peso rate closed higher at P52.35 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P52.73 the previus day. The weighted average rate appreciated to P52.507 from P52.821. Total volume amounted to 9.2 million.
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