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MBC’s 120,787 treasury shares at P16.38 equals P1.978M

EMETERIO SD. PEREZ As co-owners of Manila Broadcasting Co. (MBC), the public stockholders owned 41.175 million MBC common shares, or 10.23 percent of 402.683 million MBC common shares as of Dec. 31, 2018, according to a public ownership report (POR) posted on the website of the Philippine Stock Exchange (PSE). …

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M3 growth up, bank lending slows

Money supply growth accelerated in November despite slower bank lending, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday. Domestic liquidity or M3 expanded by 8.4 percent year-on-year to P11.250 trillion, faster than October’s revised 8.3 percent. Month-on-month and seasonally adjusted, M3 growth increased by 0.5 percent. “The BSP will …

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Profit-taking snaps stock market rally

THE stock market snapped a four-day rally on Tuesday as investors took profits while waiting for the results of renewed trade talks between the United States and China. The Philippine Stock Exchange index (PSEi) dropped by 1.10 percent or 85.54 points to close at 7,702.12. The broader All Shares declined …

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Govt likely to miss 2019 deficit goal

This year’s budget deficit will likely fall short of target, a Fitch unit said as it also warned that the Philippine economy appeared to be overheating. “The government is likely to underspend its budget in 2019. . . We at Fitch Solutions forecast the Philippines’ budget deficit as a share …

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PH global bond sale successful – Treasury

The Philippines has made a successful return to the international capital markets, the Treasury bureau announced on Tuesday. raising $1.5 billion via a 10-year global bond offering. A construction worker inspects metal rods at a construction site along NAIA road in Parañaque City. PHOTO BY DANTE DENNIS DIOSINA JR. “The …

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Lessons from a management legend

BEN KRITZ WHEN Southwest Airlines’ iconic co-founder Herb Kelleher died at the age of 87 last week, he left behind a legacy nothing short of revolutionary. Kelleher transformed the airline business so profoundly he actually created an entirely new industry, and he did it by standing most conventional management science …

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DoF chief: Govt firm on cyberheist position

The government will not involve itself in a case between the Bangladesh central bank and a local lender involved in an $81-million cyberheist that occurred almost three years ago, a Cabinet official said. The Bangladesh Bank, which has yet to recover the entire amount, is now reportedly in final preparations …

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PSEi touches 7,900, tracks regional rally

THE stock market rose for a fourth straight session on Monday, tracking a regional rally, with investor sentiment also lifted by the start of fresh US-China trade talks and continued inflation-generated optimism. The benchmark Philippine Stock Exchange index (PSEi) opened at 7,800.88 and went as high as 7,900.70 in morning …

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Investment grade rating for PH global bond offer

The government’s plan to return to the offshore debt market has received an investment grade score from S&P Global Ratings. The debt watcher, in a statement on Monday, said it “assigned its ‘BBB’ long-term foreign currency rating to the proposed benchmark-size U.S. dollar-denominated senior unsecured notes to be issued by …

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GIR hits 7-month high, closes 2018 at $78.5B

THE Philippines’ gross international reserves (GIR) rose to a seven-month high in December, ending the year at $78.460 billion, which the Bangko Sentral ng Pilipinas (BSP) traced to its foreign exchange operations, the government’s net foreign currency deposits and higher gold prices. A man counts dollar remittances at a money …

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