The local stock market will look for positive cues from early corporate earnings reporters this week, typically starting with banks, even as sentiment remains dampened by a public works corruption scandal. “Rate cuts alone won’t reignite growth. Without stronger governance, swift resolution of...
Securities and Exchange Commission (SEC) Chairman Francis E. Lim expressed regret over his claim that the local stock market lost ₱1.7 trillion in market capitalization due to the corruption scandal, which turned out to be fictitious. “The information, which had been circulating within business...
Maynilad Water Services Inc. may have to woo more cornerstone investors for its ₱45.8-billion initial public offering (IPO) as the prospective $245 million from the World Bank Group ’s (WBG) International Finance Corp. (IFC) and the Manila-based Asian Development Bank (ADB) is a strong vote...
In the late 2000s, Philippine business saw an intense corporate war as two of the country 's most aggressive conglomerates, Metro Pacific Investment Corp. (MPIC) of Manuel V. Pangilinan and San Miguel Corp. (SMC) of Ramon S. Ang, went to war for a single asset: Manila Electric Co. (Meralco)....
The Philippine stock market is expected to continue moving sideways this week after benign inflation failed to spur a rally, although some investors will take cues from data to be released by the Bangko Sentral ng Pilipinas, including foreign direct investment and balance of payment numbers....
Regulators and stock market players are welcoming the enactment of the Capital Markets Efficiency Promotion Act (CMEPA), as it is key to attracting more investors and boosting trading activity on the local bourse. "The passage of CMEPA sends a clear message to both domestic and global investors...
Maynilad Water Services Inc. reported that feedback from preliminary investor meetings has been encouraging for its planned initial public offering, valued at up to ₱45.8 billion. In a letter to the Philippine Dealing & Exchange Corporation, Maynilad Corporate Information Officer Lourdes Marivic...
After reducing the number of shares for its initial public offering (IPO), Maynilad Water Services Inc. may tighten the offer price to between ₱12 and ₱14 per share from its initially indicated maximum offer price of ₱20 per share based on investor interest during its ongoing bookbuilding...
Government spending related to the May 12 midterm elections—frontloaded expenditures prior to the polls as well as the resumption of delayed projects due to the election ban—would likely spill over into the second quarter and support first-half economic growth, economists said. "While the...
The Philippine Stock Exchange index (PSEi) plunged as investors sold down shares in panic due to fears of a global trade war as countries are taking retaliatory measures slapped harsh tariff rates by the US. The Philippine benchmark fell by 261.34 points or 4.3 percent to close at 5,822.85 on...
While the domestic and global economies are on a more stable path to recovery, the next Philippine President will need to address ballooning debt and more expensive loans while dealing with rising inflation and possible new virus variants, according to the country's economic strategist. media...
The local stock market is seen to remain volatile this week due to the ongoing invasion of Ukraine by Russia and its impact on oil prices and inflation. “We may still see a turbulent week ahead for the local market amid the lingering uncertainties on the Russia - Ukraine conflict,” said...
