The Philippine central bank will keep the option of another cut in the rate it pays for funds in so-called special deposit accounts, Governor Amando Tetangco said three weeks before the next policy meeting. The peso fell.
Globe Telecom Inc. may collaborate with Lopez Holdings Corp.’s broadcasting unit ABS-CBN Corp. as the Philippines’ second-largest mobile-phone company seeks to add media content to boost wireless usage by its subscribers.
SM Investments Corp., Philippine billionaire Henry Sy’s holding company, climbed to a record after it said it may merge its property units, which could unseat Ayala Land Inc. as the nation’s largest developer.
Philippine Long Distance Telephone Co., the nation’s biggest company by market value, rose to the highest in about five years after agreeing to sell a controlling stake in its outsourcing unit to CVC Capital Partners Ltd.
Robinsons Land Corp. rose to a record in Manila trading after the Philippine Daily Inquirer said the developer is close to reaching an agreement with Japanese billionaire Kazuo Okada on a casino venture in Manila.