MANILA, Philippines - The peso exchange rate closed higher at P43.84 to the US dollar yesterday, the last trading day of 2011 at the Philippine Dealing Exchange Corp. (PDEx) from P43.97 the previous day. The weighted average rate appreciated to P43.919 from P43.928. Total volume amounted to $683 million.
D.B.M. sets P90M for scholarships
The Department of Budget and Management (DBM) said that it has invested P90.3 million in a comprehensive scholarship program to support 1,050 scholars in agriculture, forestry, fisheries, and veterinary medicine education.
Aimed at boosting the competitiveness of the agriculture sector, Budget and Management Secretary Florencio B. Abad said the government needs to develop a steady base of competent professionals who will unlock the potential of the country’s agriculture and fisheries sector.
"President Aquino is committed to ensuring rice self-sufficiency by 2013 and, ultimately, to developing a robust agriculture sector that provides meaningful and sustainable livelihood for the rural poor," Abad said. (CSL)
R.C.B.C. raises P3.85B from L.T.N.C.DS.
Rizal Commercial Banking Corporation (RCBC) has raised P3.85 billion from the issuance of the first tranche of its Peso-denominated Long Term Negotiable Certificates of Time Deposit (LTNCDs).
In a disclosure to the Philippine Stock Exchange, RCBC said it raised P2.03 billion in Fixed Rate LTNCDs and P1.82 billion in face value of Zero Coupon LTNCDs. The fixed rate LTNCD carries a coupon of 5.25 percent per annum while the zero coupon LTNCDs were priced at a yield of 5.50 percent. (JAL)
Singtel donates to 'Sendong' victims
Singapore Telecommunications Limited (SingTel), in support of its Philippines associate’s relief efforts for storm "Sendong" victims, pledged P500,000 to Globe Telecom’s corporate social responsibility program, Globe Bridging Communities.
The donation will be used to provide relief items, including drinking water and medicines, to families affected by the flash floods and landslides that were triggered by the typhoon. (EVA)
R.B. creditors told: file claims
Creditors of closed bank, Rural Bank of San Antonio de Padua (Laguna), is being urged to file claims of assets with the Philippine Deposit Insurance Corp. (PDIC) within 90 days from November 5.
The Regional Trial Court Branch 28 (Santa Cruz, Laguna) made the call while it is set to hear the petitions for the bank’s liquidation filed by PDIC as the liquidator. (LCC)
