Earnings prospects to boost stock market: analysts[ABS-CBNNEWS]MANILA - Philippine shares prices should be boosted next week by investors building up positions ahead of the earnings reporting season for the three months to June, analysts said Friday.
"We're two weeks away from the earnings season, and early indications suggest second quarter results were positive," Ricardo Puig of ATR-Kim Eng Securities told Dow Jones Newswires.
He said risk appetite should also be boosted by some improvement in US jobs data and domestic inflation prospects.
Kirin's stake in SMB ups April foreign investments by 154%
[ABS-CBNNEWS]MANILA - A Japanese company's investment in a local brewery helped increase the Philippines' foreign direct investments (FDI) by 154.7% in April--a turnaround from double-digit year-on-year declines in the previous months.
The Bangko Sentral ng Pilipinas (BSP) announced on Friday that FDIs reached $601 million in April, a 154.7% rise from $236 million recorded in the same month last year. Last month, the Philippines had a net outflow of $27 million.
BSP said that of the amount, it received $619 million in equity capital in April, a huge jump from $70 million in the same period last year. Bulk of capital infusion came from "a foreign firm's share acquisition in a local beverage manufacturing firm."
Jollibee, iRemit tie up for food remitttance delivery service
[PHILSTAR]MANILA, Philippines – Homegrown fastfood giant Jollibee Foods Corp. has forged a partnership with listed money transfer firm iRemit Inc. for a food remittance delivery service, following concerns that the slowing pace of remittance inflows may impact the company’s sales this year.
Called “Jollibee Salu-Salo Padala Treat Mula sa iRemit,” the tie-up allows overseas Filipino workers (OFWs) to send Jollibee meals to their families and beneficiaries in the Philippines through any iRemit branch in Australia, Hong Kong, Singapore, Taiwan, United Kingdom and Canada.
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