Business NewsMPIC selling 51% stake in LandcoMetro Pacific Investments Corp. (MPIC), the Philippine publicly listed holding firm of Hong Kong-based conglomerate First Pacific Co. Ltd., will seek shareholder approval on Feb. 20 of a plan to sell its 51-percent stake percent in property firm Landco Pacific Corp. 3-yr T-bond rate drops to 5.875% The rate for three-year Treasury bonds fell by 173 basis points to 5.875 percent Tuesday from 5.888 percent at the previous auction, held in November. Some firms resort to shortened work week MANILA, Philippines—Some electronic firms, among the country's top export earners, are resorting to a four-day work week to mitigate impact of the global slump, according to the Semiconductor and Electronics Industries of the Philippines or Seipi. Atlas ships first copper to China MANILA, Philippines -- The Philippines' second largest miner, Atlas Consolidated, has shipped its first copper concentrate to China at a whopping $7,600 per ton, or more than double current prices, a company official said on Tuesday. Gov't to choose bond underwriters soon MANILA, Philippines -- The Philippines should soon choose underwriters for a sovereign bond it plans to issue early this year, National Treasurer Roberto Tan said Tuesday. IRRI seeks to boost crop yields MANILA, Philippines—International agriculture researchers and donors announced a plan Tuesday to substantially boost crop yields in South Asia and help farmers increase their income to avoid a repeat of last year's food crisis. China faces wave of unrest in 2009 BEIJING, China -- China faces surging protests and riots in 2009 as rising unemployment stokes discontent, a state-run magazine said in a blunt warning of the hazards to Communist Party control from a sharp economic downturn. Children vulnerable in economic crisis SINGAPORE -- The deepening global economic crisis could raise infant mortality and malnutrition rates by up to 10 percent, a UN official said Tuesday, urging Asian governments to protect millions of vulnerable children. Rupiah tops gainers in mixed Asian trade SINGAPORE -- The rupiah led the gainers in a mixed Asian currency trading session on Tuesday, propped up by the broad weakness in the US dollar as well as expectations of a sustained rally in Indonesian bonds in the months ahead. Manila seeks advice on new bond issue HONG KONG -- Asian bond spreads were little changed Tuesday, with investors focusing on the Philippines, which contacted potential underwriters about a planned sovereign offering in coming months. Shares close 0.3% lower MANILA, Philippines – (UPDATE) Share prices closed 0.3 percent lower on Tuesday as foreign investors took a wait-and-see attitude, dealers said. Asia stocks up on hopes of recovery HONG KONG -- Asian stocks edged up for a seventh day on Tuesday, boosted by hopes for a global economic recovery later in 2009, though the rising yen and falling high-yielding currencies suggested such optimism was limited. |
