MANILA, Philippines — The peso exchange rate stands at P43.275 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P43.299.

Bam Aquino speaks before W.E.F.

The World Economic Forum (WEF) has invited social entrepreneur and micro business advocate Paulo Benigno “Bam” Aquino as one of the speakers in its 2012 Annual Meeting to be held January 25 to 29 in

Davos, Switzerland. Aquino is scheduled to speak on Thursday, January 26 during the Forum’s “Learning From The Frontier” session where he will join a panel of experts from the business sector, the academe and the health care industry. “They invited me to share our experience with respect to the concept of social entrepreneurship being implemented by our group in Micro Ventures, Inc. (MVI) under the Hapinoy Community Store Program,” he said.

Bonds gain after rate cut

Philippine 10-year bonds gained, with yields falling by the most in a week, after the central bank said it may consider more rate cuts should economic growth slow. The peso strengthened. Bangko Sentral ng Pilipinas lowered its overnight borrowing rate by a quarter of a percentage point to 4.25 percent Thursday, its first reduction since 2009.

The yield on the 6.375 percent bond due January 2022 fell five basis points, or 0.05 percentage point, to 5.18 percent, as of 11:25 a.m. in Manila, according to Tradition Financial Services. The rate rose four basis points this week. (Bloomberg)

Abad confident on rating upgrade

The Philippines expects to win a credit rating upgrade “soon,” Budget Secretary Butch Abad said, citing favorable economic fundamentals and improvements in the fiscal sector.

“We won’t be concerned with underspending this year,” Abad told reporters. “Our concern will be more on how to keep within the spending limit.” Standard & Poor’s raised the outlook on the nation’s BB-rated debt to positive last month. (Bloomberg)

Land Bank bonds priced at 5.875%

Land Bank of the Philippines is selling bonds due April 2022 denominated in the Philippine peso at a coupon of 5.875 percent, a person familiar with the matter said.

The lender is offering P10 billion worth of the bonds, which carry a call option on the fifth year, according to the person, who asked not to be identified as the details are private. (Bloomberg)