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.
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.
Manila Water Co. fell the most in more than a week after the Philippine Daily Inquirer reported that the nation’s water regulator scrapped a rule allowing the utility to pass on tax costs to consumers.