PSEi recovers, peso sideways vs. USD

MANILA – Philippines share prices recovered Monday while the local currency finished little changed against the greenback as investors stayed at the sidelines ahead of the speeches of top Federal Reserve officials this week. The Philippine Stock Exchange index (PSEi) rose 0.78 percent, or 61.53 points, to 7,943.75 points, which a trader pointed to bargain-hunting … Read More

Car makers want perks for electric, hybrid vehicles production

MANILA — Automotive vehicle manufacturing groups have pushed for incentives to support the production of electric vehicles (e-vehicles) and hybrid vehicles in the country. During the pre-event press conference for the 1st ASEAN Electric and Hybrid Vehicles Summit Friday, Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) President Rommel Gutierrez said providing fiscal and … Read More

Australian dollar slumps in early trade

SYDNEY — The Australian dollar fell on Friday against the U.S. greenback, backtracking on Thursday’s strong performance which was spurred by positive employment figures. At the Asian open, one Australian dollar was buying USD75.81 cents, down from the USD76.08 cents it was trading at on Thursday. The Australian dollar rose sharply on Thursday after the … Read More

Nokia, Apple settle patent disputes, sign cooperation agreement

HELSINKI — Finnish information technology company Nokia and its American rival Apple settled all litigation related to their intellectual property disputes, Nokia said on Tuesday. The Finnish company signed a patent license and a business cooperation agreement with Apple, Nokia said in a press release. Nokia said it would receive an up-front cash payment from … Read More

Gold price opens lower in Hong Kong

HONG KONG — The gold price in Hong Kong went down 50 Hong Kong dollars to open at 11,650 dollars(about USD1,495.92) per tael on Wednesday, according to the Chinese Gold and Silver Exchange Society.(1 US dollar equals to 7.79 HK dollars) (Xinhua)

Peso, stocks up on Tuesday

MANILA — Both the local currency and stocks closed higher on Tuesday. The Philippine peso inched up to 49.68 against a U.S. dollar from Monday’s finish of 49.69. It opened the day stronger at 49.60 from last day’s kick off level at 49.74 to a dollar. It traded better to a range of 49.59 to … Read More