A "steady" Philippine economy would allow the peso to further strengthen to the ₱54:$1 level before year-end, despite lingering downside risks from local politics as well as external economic and financial developments, according to Japanese financial giant MUFG Bank Ltd. In a May 27 report...
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...
The Philippine Stock Exchange index (PSEi) ended slightly negative as investors continue their wait-and-see stance as several economic data are die for release later this week. The main index shed 5.32 points or 0.08 percent to close at 6,384.62 with sectoral indices equally divided. Volume...
The Philippine Air Force (PAF) has relocated the Major Danilo Atienza Air Base (MDAAB) from Sangley Point, Cavite to Lumbia Airport in Cagayan de Oro City as part of its strategic basing plan. Colonel Ritza Ann Jovellanos, acting PAF spokesperson, said among the units that were transferred were...
The Philippine Marine Corps (PMC) and United States Marine Corps (USMC) will test the Navy-Marine Expeditionary Ship Interdiction System (NMESIS), an American-made anti-ship missile system, during the Kamandag Exercise next week. Kamandag, or “Kaagapay ng mga Mandirigma Mula sa Dagat”, is an...
Moody’s Ratings has affirmed the credit ratings of three of the Philippines ’ largest banks —BDO Unibank Inc., Bank of the Philippine Islands (BPI), and Metropolitan Bank & Trust Co. (Metrobank)—on the back of their solid capital positions, stable profitability, and strong liquidity, even...
Two China Coast Guard (CCG) ships tailed training ship (T/S) Kapitan Felix Oca, the vessel carrying civilian volunteers of the “Atin Ito” Coalition sailing to Pag-asa (Thitu) Island in the West Philippine Sea, a ranking Philippine Navy (PN) official disclosed Tuesday, May 27. Rear Adm. Roy...
Manila-based electric vehicle (EV) logistics firm Mober is expanding its operations to Thailand to further its regional footprint in green delivery solutions. In a statement, Jade Hugo, Mober co-founder and head of new business, said the company launched its EV logistics with an initial fleet of...
The PSEi declined on mixed trading as investors waited for the release of economic data due this week. The main index shed 23.16 points or 0.36 percent to close at 6,389.94 with sectoral indices equally divided. Volume was low at 486 million shares worth P4.74 billion as gainers outnumbered losers...
The Philippine Coast Guard (PCG) expressed confidence on Monday, May 26, that the civilian convoy of the civic-society group Atin Ito Coalition will not be subjected to water cannon harassment by Chinese vessels in the West Philippine Sea (WPS). Despite its notoriety for firing water cannon at...
The courtesy resignation of Department of National Defense (DND) Secretary Gilberto Teodoro Jr. will not affect the operations of the Armed Forces of the Philippines (AFP), a ranking military official disclosed. The AFP is a professional organization that will continue to fulfill its mandate to...
Stock investors are expected to take cues from the release of a slew of data this week, which includes the Philippines’ budget and trade balance numbers as well as US gross domestic product and jobless claims. Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said upcoming...
