MANILA, Philippines - Shares closed lower Wednesday after oil prices hit another record high near $130 a barrel, raising fears of weaker consumer spending that may dent corporate earnings and hurt the entire economy.
MANILA, Philippines -- A government official Wednesday warned anti-mining groups blocking a major gold-copper project in the country's north that they were committing an illegal act.
SINGAPORE -- Most Asian currencies climbed Wednesday, including the Singapore dollar and Chinese yuan, as investors bet on currencies in countries where central banks are seen using exchange rates as an inflation-fighting tool.
TOKYO, Japan -- The dollar fell sharply against the yen in Asian trade Tuesday after a slump on Wall Street and a spike in oil prices added to concerns about the outlook for the US economy, dealers said.
MANILA, Philippines -- The rice crisis affecting the Philippines is not caused by a shortage of rice but due to bad policies that have hurt the agriculture sector, a leading economist said in a report released Wednesday.
MANILA, Philippines – Manila-based conglomerate Metro Pacific Investments Corp. (MPIC) said Wednesday it has agreed to buy a 34-percent stake in Davao Doctors Hospital Inc. for about P498 million ($11.6 million) as part of its expansion plan in the healthcare business.
MANILA, Philippines -- Shares were lower halfway through Wednesday's session after investors cashed in recent gains amid concerns about runaway inflation at home, sparked by a surge in oil prices to another record high. At 10:43 a.m. (0243 GMT), the composite index was down 27.88 points or 0.9 percent to 2,868.27.
