MANILA – The Philippine Stock Exchange, Inc. (PSE) and the Securities Clearing Corporation of the Philippines will have regular trading, clearing and settlement on November 17 and 20, 2015 after the Bangko Sentral ng Pilipinas (BSP) announced through Memorandum No. M-2015-038 that the Philippine Payments and Settlements System (PhilPaSS) will be operational on the said dates. The PSE had earlier asked the BSP to make financial clearing and settlement operations among the services available to the public during the November 17 and 20, 2015 work holidays declared for government offices in the National Capital Region (NCR) in relation to the…
Author: Business News Asia
Business News Asia
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TORONTO, Canada – Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) is pleased to announce that Scott F. Powers has been appointed to the Board of Directors effective October 30, 2015. Powers has over three decades of experience leading and advising firms in the investment management industry. From 2008 until his recent retirement in 2015, he was the President and Chief Executive Officer of State Street Global Advisors. Before joining State Street, Powers was the President and Chief Executive Officer of Old Mutual Asset Management, the U.S.-based global asset management business of Old Mutual plc. He has also previously held senior…
SUNTEC CITY, SINGAPORE – Cloud Expo Asia and Data Centre World 2015 opened Wednesday at Suntec Singapore with a record number of attendees, keeping their reputation as the largest professional technology gathering in the region. While the official number of participants will be released by an independent auditor, one of the organizing staff said this year’s attendance was a record breaker for the history of the show. Over 250 international exhibitors across the two events also filled up the exhibit hall. Co-organized by the the Infocomm Development Authority of Singapore (IDA) and CloserStill Media Ltd, this year’s Cloud Expo Asia…
SUNTEC CITY, SINGAPORE – Cloud Expo Asia and Data Centre World 2015 opened Wednesday at Suntec Singapore with a record number of attendees, keeping their reputation as the largest professional technology gathering in the region. While the official number of participants will be released by an independent auditor, one of the organizing staff said this year’s attendance was a record breaker for the history of the show. Over 250 international exhibitors across the two events also filled up the exhibit hall. Co-organized by the the Infocomm Development Authority of Singapore (IDA) and CloserStill Media Ltd, this year’s Cloud Expo Asia…
CLOUD EXPO ASIA, SINGAPORE – Cloud computing is forecast to generate about 14 million new jobs this year, offering tremendous opportunity for younger people and those who are rediscovering their careers and getting new skills, said Max Peterson II GM Partners, Capture & Contracts for Global Public Sector at Amazon Web Services. Peterson, who spoke during the opening of Cloud Expo Asia at Suntec Convention Center in Singapore on Wednesday, said cloud represents a huge opportunity not just for businesses and government but for the public as a whole. “There is a tremendous opportunity for us to create a new…
MANILA – The Philippines will be attending a high-level meeting with Singapore, Indonesia, Malaysia, and Thailand in Singapore to discuss concerns on transboundary haze. The Philippines will be represented by Department of Environment and Natural Resources (DENR) Undersecretary for field operations Demetrio Ignacio Jr during the meeting. The haze from Indonesia has already reached other parts of the region, including the Philippines. In Southern Philippines, flights have been cancelled due to poor visibility as a result of smaze, a mixture of smoke and haze. In Cebu, the DENR 7 has urged the public to wear good fit protective mask to…
SINGAPORE – Cloud Expo Asia & Data Centre World opens its doors next week, bringing the leading lights of the cloud and data centre industry directly to you! What makes Cloud Expo Asia a truly unique event is the sheer volume and quality of content available to you for FREE! In just one day you can source new products and solutions from over 250 exhibitors, network with the leading professionals in your industry, and take advantage of hours of world-class content from over 200 speakers in 11 dedicated theatres. As part of this exclusive partnership with Cloud Expo Asia and…
McDonald’s restaurants operator and franchisee McDonald’s Corporation (NYSE:MCD) saw its stock jump as much as 8 percent before the market opening to US$110.70, or US$8.16 higher from Wednesday’s close. The New York Stock Exchange-listed company’s stock gained in after hours trading after McDonald’s announced that its sales at established US locations edged up during the July-September quarter. In the US, McDonald’s reported that its sales rose 0.9%, breaking the two years of quarterly declines. The company also said that sales at its established global locations rose 4 percent. McDonald’s Corporation operates and franchises McDonald’s restaurants. McDonald’s global system comprises both Company-owned…
PHILIPPINES – Contecon Manzanillo, S.A. (CMSA), a wholly owned subsidiary of Philippine-based container terminal operator International Container Terminal Services Inc (ICTSI) (PSE:ICT), has signed a US$260 million Project Finance Facility with three financial institutions. In a disclosure to the Philippine Stock Exchange, ICTSI, said Contecon Manzanillo, developer and operator of the second specialized container terminal (SCT-2) in the Port of Manzanillo in Colima, Mexico, has signed the project finance facility with International Finance Corporation (IFC), Inter-American Development Bank (IADB), Standard Chartered Bank and KfW Ipex Bank. The CMSA Project is for the development and operation of a Specialized Container terminal…
PHILIPPINES – Most Southeast Asian stock markets rose on Thursday, after dropping in the previous close, while investors cautiously monitor the result of a meeting of the European Central Bank. Stocks at the Philippine Stock Exchange (PSE) were up in today’s session, with the Philippine Stock Exchange Index (PSEi) gaining 0.35 percent, or 24.88 points, to end the day at 7,117.78. The wider All Shares index also rose by 0.49 percent to end the day at 4,104.09 points. Mining and Oil stocks performed the best today with a 1.34 percent gain, registering a total value of 11,386.08 points at the…
AUSTRALIA – Australian oil and gas producer Santos Limited (ASX:STO)’s stock soared 16.18 percent at noon on the Australian Stock Exchange after the company rejected a nonbinding takeover offer from Scepter Partners. Santos Limited (ASX:STO)’s shares gained AUD0.88 in midday to trade at AUD6.32 apiece, with an intraday high of AUD6.56. On Thursday, Santos Limited said it has rejected a nonbinding takeover offer from Scepter Partners. In a disclosure to the Australian Stock Exchange, Santos Limited said its board has met to consider the proposal and decided to reject it. “The proposal is considered to be opportunistic in nature and…
PHILIPPINES – SN Aboitiz Power-Magat Inc (SNAP-Magat) is building an 8.5-megawatt hydroelectric power plant along the Maris Main (South) canal, Aboitiz Power Corporation (PSE:AP) said in a disclosure to the Philippine Stock Exchange. SNAP Magat signed the MOA with the National Irrigation Administration (NIA) for the construction of the said hydroelectric power plant along the Maris Main (South) Canal, which is under the operation and management of NIA. The hydroelectric power plant will use the irrigation water released from the Maris Reservoir for the Maris Main (South) Canal. The Department of Energy awarded a Hydropower Service Contracts (HSC) for Maris…
TOKYO – Japanese car manufacturer Toyota Motor Corporation (NYSE:TM, TYO:7203) announced on Wednesday that it was recalling 6.5 million vehicles globally due to window defect. Toyota Motor Corporation (NYSE:TM)’s stock at the New York Stock Exchange continues to rally despite the recall report. The stock was trading at US$124.47 a share, a gain of 1.89 percent, a few minutes after the opening bell Wednesday. In Tokyo, shares of Toyota Motor Corporation (TYO:7203) were also up by 2.01 percent to trade at JPY1,467 at the close. In announcing the recall, Toyota said it discovered a power window glitch that presented a…
PHILIPPINES – Three of the four listed hotel and leisure firms on the Philippine Stock Exchange (PSE) gained in today’s trading, with the remaining stock ending the day flat. Boulevard Holdings, Inc. (PSE:BHI) gained 5.56 percent to trade at Php0.057 at the close, leading the pack in today’s session. The stock has a PE ratio of 95.00. Boulevard Holdings, Inc. (PSE:BHI) was established and incorporated on July 13, 1994 as a holding company with primary interests in the following businesses: ownership of companies involved in the development of hotels and resorts & tourism-related businesses and investments in strategic land locations…
PHILIPPINES – Megaworld Corporation (PSE:MEG), the Philippines’ largest developer and lessor of office buildings, has accelerated the construction of six campus-type office towers in the 34.5-hectare McKinley West township located in the southern part of Fort Bonifacio beside the upscale Forbes Park community, the company disclosed. The six towers will have a total of 60,000 square meters of office space, and will be part of the 350,000‐square meter office space expansion of the property giant in the entire Fort Bonifacio in the next three years. “We are now experiencing an overwhelming demand for office spaces in our various townships and a…
Fiat Chrysler Automobiles NV (NYSE:FCAU)’s stock was up by 1.88 percent in after hours trading after closing flat at US$15.94 a share on Tuesday. Investors are closely monitoring shares of Fiat Chrysler Automobiles NV (NYSE:FCAU) on news that sports car manufacturer Ferrari has priced its IPO at US$52 a share. The price was the top end of an expected price range and values the Italian car manufacturer at about US$9.8 billion. Ferrari raised about US$894 million for its corporate parent, Fiat Chrysler. The shares will start trading Wednesday, listed on the New York Stock Exchange under the symbol RACE. Chairman…
PHILIPPINES – The Philippine Stock Exchange Index (PSEi) was slight up a few minutes after the opening bell Wednesday, gaining 0.13 percent but analysts said its too early to stay if the stocks will reverse the lackluster performance last Tuesday. The wider All Shares index was also up 0.15 percent to gain 5.80 points in the early trading minutes. Property posted the highest gain at 0.72 percent, to add 21.27 points to its value. SM Investment Corporation (PSE:SM)’s stock was the most active during the opening, gaining 0.23 percent with a value of 74.27 million. Leading the gainers was Swift…
AUSTRALIA – Bluescope Steel Limited (ASX:BSL)’s stock was up 8.38 percent in morning trade on the Australian Stock Exchange, trading at AU$4.14 a share to become the early top gainer. About 2.4 million shares were already trading before the noon break with the stock reaching a high of AU$4.15 after closing at AU$3.82 on Tuesday. Bluescope Steel Limited (ASX:BSL) has a 52-week high of AU$5.78 and a 52-week low of AU$2.70. Its annual dividend yield is 0.79. Shares of Bluescope Steel Limited were up while the Australian share market was flat at noon. Financials continue to lag, while BHP’s strong…
HONG KONG – Despite an earlier lowering of price target and maintaining of sell call by Goldman Sachs, Hong Kong & China Gas (HKG:00003)’s stock managed to inch higher in today’s trading on the Hong Kong Stock Exchange. HK & China Gas (HKG:00003) topped the blue chip stocks today with a gain of 1.163 percent, to end the day trading at HK$15.66 a share. It even managed to break its one-month high by reaching an intraday high of 15.68. The company’s stock also saw a total turnover of 148.77 million in today’s trading. The slight gain by HK & China…
PHILIPPINES – Lucio Tan Group (PSE:LTG)’s Absolut Distillers Inc. (ADI) will be launching the third installment to its multi-million-investment project on renewable energy with the establishment of a new bioethanol facility in Lian, Batangas. According to Gerardo Tee, ADI Chief Operating Officer and Overall-in-Charge of the Lucio Tan Group’s (LTGC) Distillery Operations, the bioethanol facility’s production volume is estimated at three million liters per month and 100,000 liters per day. Two of the country’s major oil companies Sea Oil and Flying V are the early major off-takers of ADI’s bioethanol produce. “Even prior to the passage of the Biofuels Law of 2006,…