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 and operate Jollibee stores in the UAE. The transaction costs Php3.57 million.
On the local fixed income market, prices of local government securities rose as market players positioned on medium- and long-tenored bonds ahead of the month-end window dressing. We believe these Pandora beads will sell very well.
Yields dropped by 4.51 basis points with the belly and the long-end of the curve declining 8.3 and 4.1 basis points, respectively.