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Investors swarm $ 500-M RP bonds; 8 times oversubscribed
NEW YORK CITY (Reuters) — The Philippines on Tuesday (Wednesday, Manila time) sold 0 million of a reopened global bond due in 2032 at the price of 98.0, at the top end of its initial guidance, one of the banks leading the deal said.
IMF cuts growth outlook, cites risks
WASHINGTON, Jan. 30 (Reuters) — The International Monetary Fund cut its 2008 forecast for world growth on Tuesday and warned the global economy will deliver the weakest performance in five years and could slow even further.
Extension of 3-country JMSU sought
The Petroleum Association of the Philippines called on the government yesterday to extend the Joint Marine Seismic Undertaking (JMSU) agreement signed by China, Vietnam and the Philippines so more data can be gathered to determine the area’s oil and gas potential.
BSP mulls own rating system for UITFs
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor A. Espenilla Jr. said they will soon adopt their own CAMLES like rating for banks’ trust departments.
FPI proposes new corporate rehab law
The Federation of Philippine Industries, Inc. (FPI) has asked Senate to enact a new corporate rehabilitation law that would remedy the infirmities of the present law in order to protect similarly distressed companies from the predatory intentions and actions of ill-motivated creditors.
Open access to be fast-tracked
House committee on energy chairman Rep. Juan Miguel Arroyo urged power industry stakeholders to submit concrete proposals on how to fast-track open access as a means to bringing down electricity costs.
Western Union partners with Globe, Smart
The Western Union Company (WU) has forged a mobile money transfer service partnership with the country’s cellular duopoly, Globe Telecom and Smart Communications Inc., to serve over 8 million Overseas Filipino Workers (OFWs) and their families.
UCPB Leasing profit up 78% in 2007
UCPB Leasing and Finance Corp. (ULFC), a wholly owned subsidiary of UCPB, hiked its net income by 78 percent in 2007 and is looking to post an even higher growth this year.
Business Options
FINEX is one organization that can rightfully boast of having among its membership a number of accomplished writers.
P/$ rate closes at P40.72/$ 1
The peso exchange rate closed lower at P40.72 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P40. 65 the previous day. The weighted average rate appreciated to P40.65 from P40.698. Total volume amounted to $ 656.5 million.
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