BSP says US Fed rate hike gives policy flexibility
MANILA, Philippines – The US Federal Reserve’s decision to raise the rediscount rate it charges banks for emergency loans gives the Philippine central bank flexibility in setting the pace of its exit strategy, deputy governor Diwa Guinigundo said on Friday.
IMF forecasts Philippine 2010 GDP growth at 3.25%
MANILA, Philippines – The International Monetary Fund said on Friday it expects the Philippine economy to grow around 3.25% this year, slightly lower than a growth estimate it made in November, powered mainly by consumer spending.
Comelec limits campaign ads beginning Feb. 9
Filipinos will see fewer political ads once the campaign period kicks off on Tuesday, February 9. Candidates for president, vice president and senator will have to comply with restrictions on campaign materials. For television ads, each candidate is allowed only 120 minutes per network during the whole campaign period.
Stock investors eye bargains
Local stocks ended slightly lower on Tuesday, with the benchmark Philippine Stock Exchange index declining by 0.32% to 2,846.60 points on foreign selling. While volatility in the market continues, CitisecOnline research head April Lee Tan said investors are now positioning on stocks that hold strong fundamental merits, and are trading at attractive levels. She cited for example property giant Megaworld Corp., whose share price is now “below book value” at P1.10.