David Gilmour Stratocaster
Data from the United Nations Industrial Development Organization showed that the Philippine manufacturing sector expanded faster than the average global growth rate for the past three years. Based on manufacturing value added from 2010 to 2013, the local manufacturing sector grew 5.77% on average, higher than the 4.97% average growth in the ASEAN [Continue]
Local equities ended higher
Local equities ended higher, ahead of the FOMC and BSP meetings scheduled this week. The PSEi added 17.12 points, or 0.25%, to close at 6,867.59. Sectors ended mixed, with services (+0.89%) and financials (+0.35%) leading the gainers, and property (-0.33%) and industrials (-0.31%) leading the losers. Market breadth was negative, with 106 declines
East West Banking Corp Planning to Raise Capital
East West Banking Corp. (EastWest Bank) is planning to raise up to Php5 billion from the sale of a maximum of 500,000,000 perpetual non-cumulative preferred shares at a par value of Php10 per share. The company stated that the share sale would qualify as Additional Tier 1 capital of the bank under Basel 3 regulations.
Uneventful Trading Week For Local Equities
Given this short and uneventful trading week, the local equities market appreciated slightly, tracking US markets. Continued optimism on Q1’14 Corporate Earnings, due out within the month, helped achieve today’s outperformance. The PSEi added 32.11 points, or +0.49%, to close at 6,621.66. All sectoral indices ended positive led by
Lower Job Openings in January for the US
According to the US Labor Department, employers posted 3.974 million job openings in January, lower than the market estimate of 4.015 million. However, January’s figure was 1.5% higher than December’s numbers. On average, there were about 2.6 unemployed citizens per job opening, somewhat close to the 2:1 ratio typical of healthier economies.
Let It Go at the Oscars
Whether or not “Let It Go” from Frozen wins the Academy Award for Best Song, it already stands as the most important movie song of 2013. The anthem by Robert and Kristen Anderson-Lopez not only became the breakout song from the movie; it may have single-handedly revived the fortunes of the animated musical. Until the
Jollibee Expands in Middle East
The leading Fastfood chain in the country, Jollibee Foods Corp. (JFC) has expanded its presence in the Middle East after an agreement was reached with a UAE-based company. Golden Plate Pte. Ltd., a wholly-owned subsidiary of JFC, reached an agreement with Golden Crown Foods LLC that will form a joint venture company that will own