OPEC Can’t Cut Oil Supply, Said Former Saudi Energy Minister

Ali Al-Naimi, former Saudi Arabia’s Energy Minister, stated that OPEC cannot solely decide to cut oil production for market stabilization. Al-Naimi added during a London Chatham House event that he thinks OPEC should not cut oil supply by itself. Al-He was the one who led the...

Pilipinas Shell Shares Flat on Stock Exchange Debut

MANILA, Philippines – Pilipinas Shell Petroleum Corp. (SHLPH) debuted in the Philippine Stock Exchange with a market capitalization of P108 billion. The Dutch Shell Plc local unit had an initial public offering (IPO) of 291 million common shares tendered at P67 per piece....

Hong Kong to Reduce Its Highest Home Prices

The world’s most expensive property market will cool down, according to Hong Kong Chief Executive Leung Chun-ying during an announcement with the city’s most senior officials. After a short dip, the highest home prices recovered in the market. Effective Saturday, the stamp duty...

U.S. Stocks Extend Its Longest Slide

Since 1980s, U.S. stocks registered its longest slide while Treasuries increased after American labor market data showed an improvement, which provided consolation over the upcoming presidential election. The S&P 500 Index plunged on its ninth day. Gauge of unpredictable...

Federal Reserve May Reinforce Hike Next Month

Interest rates are left unchanged by Federal Reserve’s policy makers, while stating higher value of borrowings tone up despite sped up inflation. Nonetheless, hike next month is anticipated. Rate of federal funds continues to strengthen. However, further proofs on its...

U.S. Bonds Decline, Asian Bonds Gain

Investors are given actual caution before the presidential race in the United States begins. U.S. bonds extend its decline and regional stocks drop low in two weeks. As investors favored secured assets, benchmark 10-year bonds increase in New Zealand and Australia, yen gained its...

BDO Registers a Double-Digit Income Increase

MANILA, Philippines – BDO Unibank Inc. (BDO), the country’s largest bank, registered a P19.3 billion income, which is a double-digit earnings increase. Henry Sy, the bank magnate owning BDO by retail, stated that its P19.3 billion returns increased by 10 percent...

BSP Reports Steady Inflation at 2.3%

MANILA, Philippines – Philippine Statistics Authority (PSA) reported that in October, inflation remained at 2.3 percent, giving the Bangko Sentral ng Pilipinas (BSP) a reason to retain its pacifistic policy strategy. PSA data showed that inflation remained at 2.3 percent due to...

Max’s Profit Closed at 3% Growth

MANILA, Philippines – Max’s Group Inc. (MGI) reported its nine-month registration of net income with a three percent growth due to its third quarter plunge. MGI’s net income increased to P380.56 million. The company’s revenues climbed to P8.09 billion, which is an 11 percent...

LRWC Sold Its City of Dreams Interest

MANILA, Philippines – Leisure and Resorts World Corp. (LRWC) sold its City of Dreams Manila interest in consideration of Belle Corp., which is SM Group’s high-end property developer. LRWC and Belle signed a deal that will enable the former company to pull in its interests under...
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