Business

Seoul, South Korea—South Korea’s central bank lowered its key interest rate to a historic low on Thursday, responding to a slump in exports and the prospect that the outbreak of the deadly MERS virus could slow the economy.

Washington—The US House of Representatives sidetracked a high-profile White House-backed trade bill, a blow to a pending Asian trade deal and a humiliating defeat for President Barack Obama inflicted by members of his own party.

Beijing—Li Haitao, a 24-year-old employee at a steel trading company, did no research last June before he joined a stampede of novice investors into China’s surging stock market. He paid for his risk-taking.

New York—Standard & Poor’s on Wednesday downgraded Greece’s credit rating one notch further into junk territory, saying it’s likely the country will default on its commercial debt within a year if it can’t strike a deal with its creditors.

Listed housing developer 8990 Holdings Inc. has earmarked P850 million to construct 12 medium-rise four-story buildings for a total of 1,024 units for the Urban Deca Homes Campville project, located at Km 23 East Service Road in Muntinlupa City.

No. 1 Philippine mobile brand Globe Telecom leads the drive toward positioning the country as the “Digital Lifestyle Capital of the World” through fast and easy data access, as well as highly affordable content and apps.

As the demand for Internet connectivity increases, more customers are looking for establishments that offer wireless-fidelity (Wi-Fi) access, as today’s lifestyle has become more on-the-go and digital. The same is true for establishments, such as restaurants, cafés, and bed-and-breakfast inns, which are looking into growing their businesses with Wi-Fi availability. From a customer’s point of view, an establishment with Wi-Fi …

The Development Bank of the Philippines (DBP) defended its Treasury bill (T-bill) trading strategy, as it said it sold securities as market prices were dropping globally to limit its losses and protect the bank’s financial condition.

By Jerry Maglunog The strict capital requirement that the Bangko Sentral ng Pilipinas (BSP) had imposed on rural banks (RBs) are affecting what are considered the last resort of people in the countryside to gain access to the financial services of the government.

Washington—United State President Barack Obama said China has made inquiries about potentially joining a Trans-Pacific trade agreement in the future, introducing a new variable to an unfolding debate in Congress over granting him the power to negotiate such international deals.