MANILA, Philippines — The depreciating peso and ongoing developments in the Senate’s investigation into anomalous flood control projects caused the local bourse to slide to a near six-month low on Thursday.
By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) tumbled by 1.09 percent, or 66.44 points, to end at 6,042.28. This marks its lowest level in nearly half a year.
MANILA, Philippines — The Office of the Ombudsman lifted the suspension of Government Service Insurance System (GSIS) president Jose Arnulfo “Wick” Veloso and four other executives. The Ombudsman said their presence will not impede an inquiry into the pension fund’s disputed stock investment. In an order dated Sept. 17, acting Ombudsman Dante Vargas reinstated Veloso
TOKYO — Frances Tiafoe smashed his racket as he lost to qualifier Marton Fucsovics in the first round of the Japan Open on Wednesday, while Denis Shapovalov also suffered an upset loss. The eighth-seeded Tiafoe struggled with his first serve in a 3-6, 6-1, 7-5 loss to Fucsovics and smashed his racket against the court
MANILA, Philippines — The new law ending tax breaks on long-term time deposits has triggered a “dramatic” exodus from those savings products, leaving banks and policymakers to wonder where the cash will flow next. Michael Angelo Kho Samson, who chairs the capital markets development committee of the Bankers Association of the Philippines, said member-banks had