Peso seen to decline futher this week

The peso is seen to be sliding further to the dollar as the inauguration of the newly elected president Barack Obama draws near.Analysts see the peso's downward trend this week despite the declaration of a unilateral ceasefire of the Israeli forces on its offensive on Hamas that should be favorable to our workers working in the region."[Our bias is still towards] a weaker peso," a trader said.Remittances from overseas Filipino workers (OFWs) have not been enough to sustain the peso’s rise, he added."Due to the financial crisis, many OFWs are being threaten by massive layoffs, meaning there will be less dollar remittances in the succeeding months,"...

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2008 Review: The Good, The Bad, & The Ugly

The year of 2008 saw some of the best auction results of Philippine numismatic materials, including the famous 1936 Woodrow Wilson Gold medal which commemorated the opening of the Manila Mint, the only mint built outside of the United States. Even though only about 2 to 4 specimen are believed to have been minted, there were two auctions held both in the United States. The later auction was facilitated by Heritage Auction Galleries (HA), one of the leading international auctioneers of numismatic materials, antiquities, arts, memorabilia, collectibles, etc.The Good..1920 Manila Mint Opening/Wilson Dollar in Gold, HK-1031, MS62 NGC. Gold, 38 mm....

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Philippine Bullion Report: Local Silver & Gold price stagnant despite moves

The US dollar weakened against other major currencies in European trading Thursday. Gold rose.The euro traded at $1.3750, up from $1.3614 late Wednesday in New York.Other dollar rates:—91.07 Japanese yen, down from 93.02—1.1091 Swiss francs, up from 1.1026—1.1848 Canadian dollars, down from 1.1966The British pound was quoted at $1.5209, up from $1.5132Gold traded in London at $855.75 per troy ounce, up from $848.50 late WednesdayMeanwhile, Gold is priced by street buyers between P850 to P950 per gram for 18K at the local black market and P1050 to P1150 per gram for the 22K. Silver on the hand is P150 to P220 per 1 peso (1907 to 1910 United States-Philippines)...

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Special Economic Report: 4 Rural Banks in Pampanga went on holiday 2 days before New Year

This page requires a higher version browserSta. Rita Rural Bank went on HolidayThe public has not yet fully recovered from the bank closures earlier this month, another wave of another bank closures happened two days before the News Year begins. Just this December alone, 10 banks have been seized by the Philippine Deposit And Insurance Corporation (PDIC), 8 which are owned by the Legacy Group who is also the owner of the Legacy Plans that ceased operation in the middle of this month.All of the rural bank branches that recently went on holiday are located in Pampanga. As the Global Financial Crisis unfolds in the coming year, many analyst foresee that the worst is yet to come to the banking and financial industry.next>>&...

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1945 Commonwealth 50 Centavos Struck in Lead

1945 Fifty Centavos Struck in LeadAmong the controversial dates of the United States and Philippine coinage, 1944 and 1945 are two of the years that became one of the exciting periods of Philippine numismatic history. First, these are the years the second world war. The United States had concentrated its resources to the production of war machines, which became known as the U.S. War Effort. One of the policies implemented by the U.S. government was the discontinuation of the used of nickel and copper vital for the production of ammunition in the United States which had resulted to the one year 1943 One Penny zinc coated steel and the series...

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Gold Mining battle of Vizcaya gets backing

Oceanagold Corp. Dipidio Mine International and local environmentalists and local residents on Tuesday urged the provincial government of Nueva Vizcaya to take a stronger stance and pass a resolution declaring a moratorium on large-scale mining in the province.Delegates of the International Solidarity Mission, which conducted a fact-finding mission in Kasibu town where New Zealand firm OceanaGold Corp. has mining interests, said it was already proven that mining does not bring economic benefits to the community and instead brings hardship and disunity among the tribes.The group also recommended to assess the damage the mining activities have...

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