MANILA, Philippines – The peso exchange rate stands at P43.275 to the US dollar, the closing rate last Wednesday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P43.228.

Apple earns $6 B in Q1

SAN FRANCISCO (AFP) - Apple said that its net profit rose 95 percent in the second quarter of its fiscal year to $5.99 billion while revenue rose 83 percent to $24.67 billion. Apple said it sold 4.69 million iPads during the quarter, down from 7.33 million during the first quarter. The Cupertino, California-based gadget-maker sold 3.76 million Macintosh computers during the quarter, up 28 percent from a year ago, and 18.65 million iPhones, up 113 percent over a year ago. Apple sold 9.02 million iPods during the quarter, a 17 percent unit decline from a year ago. ''With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders,'' Apple chief executive Steve Jobs said in a statement. ''We will continue to innovate on all fronts throughout the remainder of the year,'' said Jobs.

Banks' C.A.R. at 16.04% in 3Q

The Bangko Sentral ng Pilipinas (BSP) in a statement said the banking sector’s capital adequacy ratio (CAR) as of the end of September stood at 16.04 percent on solo basis and 16.97 percent on consolidated basis, way above the minimum requirement of 10 percent. The improved CAR showed stability of the industry, said the BSP, which also led to growth in qualifying capital by 5.26 percent to P34.3 billion on solo basis and P33.6 billion on consolidated bases, up 4.66 percent from the previous quarter. (LCC)

D.B.P. okays P200-M loan to Naga City

The Development Bank of the Philippines (DBP) has recently approved a P200-million loan to Naga City to fast track the implementation of key development projects. DBP president and CEO Francisco Del Rosario, Jr. said the facility will fund initiatives under the medium-term development program of Naga City such as the upgrading of drainage system, revival of Naga River, construction of post-harvest facilities, installation of air-conditioning units for the Naga City Coliseum, and other priority projects. (EHL)

Carmen mine makes 40th shipment

Atlas Consolidated Mining and Development Corporation reported the completion of its 40th shipment of copper concentrate since the start of mining operations through its subsidiary Carmen Copper Corporation (CCC).

In a disclosure to the Philippine Stock Exchange, Atlas said revenue from this shipment is estimated to reach $12.01 million (inclusive of gold credits). (JAL)