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Economy

PSE Index January 13, 2015
Close: 7399 Change: 40.64
Volume: 2.152 billion shares Value: P8.933 billion

Opinion

  • Proposed PHL minerals ban spooks global nickel market

    News that the Philippines was preparing to follow Indonesia in banning exports of unprocessed minerals caused panic in the London nickel market last week.
  • The oil price is just plain wrong

    The oil price is still too high, often too low and much too volatile. In other words, this is a market that doesn’t work well for anyone.
  • Saudi Arabia is playing chicken with its oil

    The kingdom has two targets in its latest oil war: it is trying to squeeze U.S. shale oil—which requires higher prices to remain competitive with conventional production—out of the market. More broadly, the Saudis are also punishing two rivals, Russia and Iran, for their support of Bashar al-Assad’s regime in the Syrian civil war. Since the Syrian uprising began in 2011, regional and world powers have played out a series of proxy battles there.
  • Saudi Arabia is playing chicken with its oil

    In August 1973, Egyptian President Anwar Sadat paid a secret visit to the Saudi capital, Riyadh, to meet with King Faisal. Sadat was preparing for war with Israel, and he needed Saudi Arabia to use its most powerful weapon: oil.
  • Will cheap gas last? The answer and nine other predictions for 2015

    Scraping the bottom of the barrel: It’s great to have lower oil prices; greater still to have oil. In the past five months, oil prices have fallen 40 percent, and that will fuel economic growth. But oil extraction and exploration aren’t getting cheaper, and prices need to be higher than below $70 a barrel to pay for them. Middle East oil producers are suspected of flooding the market with oil to make shale-oil extraction in North America uneconomical — but they won’t want to cause another slump. If we get more growth, oil demand will increase again – and so will prices. Make the best of the cheaper times.
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Agriculture and Mining

  • Japanese rice: The new, safe luxury food in China
  • BOC seizes 6,000 sacks of rice in Zamboanga Sibugay
  • 800 farmers' groups benefit from rice mechanization program
  • EU lawmakers pass controversial GMO food law
  • Intl agri fund gives Western Visayas P84M for agri sector rehab