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Peso slumps to new 10-year low as Fed officials talk up rate hike

By Janine Marie D. Soliman Posted on March 02, 2017 http://www.bworldonline.com/content.php?section=Finance&title=Peso-slumps-to-new-10-year-low-as-Fed-officials-talk-up-rate-hike&id=141531 THE PESO slumped against the dollar on Wednesday, hitting another 10-year low, amid a jittery market due to heightened chances of an interest rate hike by the US Federal Reserve this month and on the back of worries of political noise at home. The local […]

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PH economy kicks off 2017 with robust liquidity, bank lending

Domestic liquidity grows to P9.4 trillion while bank lending increases by 17.9% year-on-year in January By Rappler.com Published Wed, Mar 1, 2017 3:35 PM http://www.rappler.com/business/162913-philippines-liquidity-bank-lending-january-2017 MANILA, Philippines – The country’s financial sector began 2017 with domestic liquidity and bank lending both sustaining the gains seen last year. Preliminary data released by the Bangko Sentral ng […]

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Term deposits fetch lower rates

By Lawrence Agcaoili (The Philippine Star) Updated March 2, 2017 – 12:00am http://www.philstar.com/business/2017/03/02/1676996/term-deposits-fetch-lower-rates MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) sees no need to recalibrate the term deposit facility (TDF) as term deposits continued to fetch lower yields amid strong demand. BSP Governor Amando Tetangco Jr. said monetary authorities would continue to monitor […]

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Main stock price index falls below 7,200 on renewed rate hike fears

By: Doris Dumlao-Abadilla Philippine Daily Inquirer 12:22 AM March 02, 2017 http://business.inquirer.net/225450/main-stock-price-index-falls-7200-renewed-rate-hike-fears The local stock barometer slipped below the 7,200 mark Wednesday as risk-taking further waned following US President Trump’s address to Congress. Declining for the fourth straight session, the main-share Philippine Stock Exchange index (PSEi) lost 41.39 points or 0.57 percent to close at […]

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Senate wants Smart to conduct IPO

By Lucia Edna P. de Guzman Posted on March 02, 2017 http://www.bworldonline.com/content.php?section=Corporate&title=senate-wants-smart-to-conduct-ipo&id=141524 THE SENATE public services committee wants Smart Communications, Inc. to conduct an initial public offering (IPO), as it included this requirement in the measure extending the company’s legislative franchise for another 25 years. Senator Grace Poe, chairman of the public services committee, endorsed the […]

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Eagle Cement eyes IPO

By Iris Gonzales (The Philippine Star) Updated March 2, 2017 – 12:00am http://www.philstar.com/business/2017/03/02/1676997/eagle-cement-eyes-ipo MANILA, Philippines – Eagle Cement Corp. of tycoon Ramon Ang is embarking on an initial public offering (IPO) to raise at least P9 billion, industry sources told The STAR. The company filed its IPO application with the Securities and Exchange Commission (SEC) […]

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All PAL Middle East flights to offer bi-class, non-stop service

INQUIRER.net 04:37 PM March 01, 2017 http://business.inquirer.net/225432/pal-middle-east-flights-offer-bi-class-non-stop-service Flag carrier Philippine Airlines will mark a new and exciting milestone in its Middle East operations by March 26 this year. On this date, PAL will begin operating an ‘ALL NON-STOP’ service between Manila and seven points in the Middle East. Manila-Dubai flights will operate seven times weekly; […]

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Air China to start Cebu-Beijing flights

By: Miguel R. Camus Philippine Daily Inquirer 12:30 AM March 02, 2017 http://business.inquirer.net/225458/air-china-start-cebu-beijing-flights One of China’s largest airlines plans to launch operations in Mactan-Cebu International Airport, the Philippines’ second-busiest air gateway, an official of operator GMR-Megawide Cebu Airport Corp. said on Tuesday. Andrew Harrison, GMCAC chief executive advisor, told reporters that Air China was targeting […]

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SMC seeks MRT-7 funding

By Iris Gonzales (The Philippine Star) Updated March 2, 2017 – 12:00am http://www.philstar.com/business/2017/03/02/1677004/smc-seeks-mrt-7-funding MANILA, Philippines – Diversified con- glomerate San Miguel Corp. is in talks with local and foreign banks to raise the debt portion of the $1.6 billion needed for Metro Rail Transit Line 7 (MRT-7). SMC chief financial officer and treasurer Ferdinand Constantino […]

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China Railway keen on Phl

By Christina Mendez (The Philippine Star) Updated March 2, 2017 – 12:00am http://www.philstar.com/business/2017/03/02/1677002/china-railway-keen-phl MANILA, Philippines – President Duterte has met with officials of the China Railway Group Limited in Malacañang and other Chinese business groups in Malacañang on Monday following the misunderstanding caused by the statements of Foreign Affairs Perfecto Yasay on the Philippine claim […]

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