Business

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Defying the jittery economic trend on the global side, the Philippines still secured a rating upgrade from international debt watcher Moody’s Investors Service, which was eventually felt positively by the country’s equities market. The Philippine Stock Exchange index (PSEi) dropped 60 points in the morning session of Thursday’s trade, but…

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Moody’s Investors Service also lifted four Philippine banks to investment grade status following its upgrade for the country. “Moody’s Investors Service has upgraded the deposit ratings of four Philippine banks to ‘Baa3/Prime-3’ from ‘Ba1/Not Prime,’ which means they are now investment grade, following the rating upgrade of the Government of…

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The Philippines needs to create policies that would ensure the availability to the poor of genetically modified (GM) crops like Vitamin A rich rice to solve the worsening hunger problem both locally and globally, a US-based biotech expert said. Dr. Wayne Parrott of the University of Georgia-Institute of Plant Breeding…

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The consolidated net income of all listed firms grew to P275.5 billion during the first half of the year, the Philippine Stock Exchange said on Thursday. In a statement, the local bourse reported that the profit of listed firms rose 4.4 percent for the first six months of 2013 to…

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First Gen Corp. is the next major fund-raiser among listed companies as it intends to raise as much as P10 billion, or $250 million via a bond offering. First Gen priced on Thursday a $250-million 10-year non-call senior unsecured bond issue at a fixed coupon of 6.50 percent per annum.…

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Formerly listed as a firm whose focus is solely on energy investments, Greenergy Holdings Inc. has began with its planned diversification as it formalized ventures into real estate and information technology (IT). A disclosure to the Philippine Stock Exchange on Thursday showed that Greenergy Holdings separately sealed a deal with…

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A top official of Kaspersky Lab said on Thursday that about 43 percent of its customers were attacked while browsing the web daily, and about 12 percent came from the Philippines. “[About] 43 percent of Kaspersky customers have attacked by malware by surfing the Internet,” said Bryan Sat, business development…

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Spielwarenmesse eG, the group behind the Nuremberg International Toy Fair, visited the country on Thursday to promote the fair, and urged businesses in the local toy industry to participate in it next year. “We are currently promoting the Spielwarenmesse Nuremberg Toy Fair this year in 30 different countries. I have…

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The nation was rocked by the recent development unfolding in the United States Federal government; it’s all about the US Federal Government shutdown. Those who were too young to remember then; the US Federal government was this position 17 years ago. Effectively, a shutdown could lead to something economically tragic…

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The Asian Development Bank (ADB) has upgraded its growth forecast for the Philippines to 7 percent this year from an earlier projection of 6 percent, as booming investment and consumption continue to underpin an “economic renaissance” in the country. On the other hand, debt-watcher Standard and Poor’s (S&P) also revised…