CIMB Group Holdings Bhd., Malaysia’s second-biggest lender, said it’s proceeding with discussions to acquire a stake in the Philippines’ Bank of Commerce even after seller San Miguel Corp. signaled the deal may be scrapped.
The Philippines is investigating the failure that left Manila and almost half of Luzon island without power yesterday, and the May 13 elections won’t be marred by blackouts, President Benigno Aquino said.
Farmer Rene Ravalo loads coconuts onto a truck in the Philippines for the 30-minute trip to market on a road built last year. It previously took half a day for a water buffalo to inch the goods down a mountain track.
The Philippine central bank is considering adjustments to its so-called special deposit accounts, signaling it may limit access to the facility to cut costs and enhance its scope to cool currency gains.