Business

Washington—United States Federal Reserve (the Fed)officials appeared to edge closer last month to a decision to raise interest rates as early as September. At the same time, officials remained concerned about low inflation, sluggish wages and a sharp slowdown in China—factors that will help determine whether they raise rates next month. 

Athens, Greece—Greece was receiving the first 13 billion-euro ($14.5-billion) payment of its new bailout, with 12 billion euros earmarked for repaying debts and the remainder for settling arrears to public sector suppliers. 

Online accounts surged by 35.1 percent to 174,592 last year from 129,255 in 2013. Of this total, 99.6 percent or 173,895 were retail accounts. Since 2009, online accounts have grown at a compounded annual growth rate of 43.9 percent, the 2014 Stock Market Investor Profile report of the Philippine Stock Exchange Inc. (PSE) showed. 

SM Supermalls, through its technology and lifestyle center Cyberzone, held this month its annual Cyber Month Tech Sale, a month-long indulgence for the tech-savvy, game geeks and gadget lovers. 

By Jerry Maglunog  Despite their generous-sounding pitches, consumer loans give banks the biggest margins on lendings. An average of 15 percent to 20 percent in interest goes to a bank that approves either a car, housing, salary or personal loan. 

Kuala Lumpur—Malaysia’s central bank said there is no need for “extreme measures,” such as pegging the currency or capital controls, to halt a slide in the ringgit. 

Jakarta, Indonesia—Indonesia’s president announced a Cabinet reshuffle, replacing key economic ministers with the aim of speeding up infrastructure spending to revive sputtering growth and stabilize the sliding rupiah. 

Hong Kong—China’s unexpected move last week to lower the value of its tightly-leashed currency, the yuan, sent shockwaves through global financial markets. The impact on consumers around the world and China’s neighbors will take longer to play out, but possible winners and losers are already emerging. 

By Lito U. Gagni There is a looming water crisis in the country whose breadth and scope is unprecedented and yet the government and populace remains clueless to the worst El Niño phenomenon to hit the globe. 

Globe Telecom continues to set a world-standard in retail with the opening of its 4th GEN3 store in Greenbelt 4, Makati. As the number 1 mobile brand in the country and leader in the digital space, Globe continues its major transformation efforts to give more customers an outstanding digital retail experience.