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BSP eyes possible breaching of full-year inflation target in August ‘14

By Joann Santiago MANILA, Aug. 28 (PNA) — Faster rate of price increases of some food items and power rates due to weather-related factors were projected to make the August…

Cebu bridge cities’ mayors report robust economic growth

CEBU CITY, Aug. 28 (PNA) — The mayors of Cebu’s so-called “bridge cities,” Mandaue and Lapu-Lapu, have reported robust economic growth in their respective cities over the past 12 months….

Profit-taking rules local bourse, currency trading

MANILA, Aug 28 (PNA) — The government on Friday reported an improvement in Philippines’ output but the peso and the local bourse posted losses after investors took profit. The Philippine…

RCBC ends offer period for re-opened Tier 2 Note

MANILA, Aug. 28 (PNA) — Strong demand for Rizal Commercial Banking Corporation’s (RCBC) re-opened 10-year unsecured unsubordinated Tier 2 Notes made the bank close the offer period for the debt…

PSE updates its index composition

MANILA, Aug. 27 (PNA) — The Philippine Stock Exchange (PSE) announced that effective September 15, 2014, Emperador, Inc. (EMP) will be a member of the 30 stock PSE index (PSEi),…

Cosco Capital acquires Liquigaz stake for USD 80 M

By Juzel L. Danganan MANILA, Aug. 27 (PNA) – Cosco Capital Inc has completed its USD 80 million payment to PR Gaz Inc, for the 90 percent stake of Liquigaz…

RCBC confirms talks with Cathay Financial Holdings Co.

MANILA, Aug. 27 (PNA) — Yuchengco-led Rizal Commercial Banking Corporation (RCBC) on Wednesday confirmed a news report that it is in discussion with Taiwan’s largest financial group, Cathay Financial Holdings…

Peso, stocks up as investors turn more bullish on the low-interest rate regime

By Joann Santiago MANILA, Aug 26 (PNA) — Uncertainty on when the Federal Reserve will hike its key rates buoyed the Philippine peso and the local bourse Tuesday, a late…

Bacman Geothermal Project Unit 2 operational by October

By Juzel L. Danganan MANILA, Aug. 26 (PNA) — Energy Development Corporation’s (EDC) Bacman Unit 2 is projected to be fully operational by October 2014, after its “permanent fix” due…

City council approves hike in real properties by 30%

ILOILO CITY, Aug. 26 (PNA) –- The city council here had approved en toto on Tuesday the proposed increase in the assessment levels of real properties slated to take effect…

BOC to auction Php 300-M worth of white and glutinous rice

MANILA, Aug. 25 (PNA) — The Bureau of Customs (BOC) has announced it will be holding a public auction through sealed bidding of white rice and glutinous rice worth more…

Smart, Sun postpaid subscribers up by 17% to 2.6-M in H1

MANILA, Aug. 25 (PNA) — Subscribers of PLDT wireless brands Smart Communications and Sun Cellular on Monday reported a 17 percent increase in its postpaid subscribers to 2.6 million for…

Cebu City gets low interest offer for P2.9B remaining balance for SRP loan

CEBU CITY, Aug. 23 (PNA) — The Land Bank of the Philippines (LBP) has offered the Cebu City Government an interest rate of 4.5 percent for a new loan the…

ILO’s P7.375M livelihood project to benefit four Leyte towns

By Perla G. Lena TACLOBAN CITY, Aug 24 (PNA) — Some 700 workers from four towns of Leyte are slated to benefit from the sustainable livelihoods though contour farming supported…

BSP: PHL has buffers vs. possible tightening in financial conditions vis-à-vis Fed rate hike

By Joann Santiago MANILA, Aug. 24 (PNA) — The high liquidity situation in the Philippines will partly help the domestic financial market from the impact of any possible tightening in…