Philippine Peso is Asia’s best performing currency; Stock index up 21%
December 29, 2007
Yesterday, December 28, marked the last trading day in Philippine financial markets.
We take time today to briefly recap the financial figures of the year 2007 that matter to investors, traders, and analysts with interest in the Philippines.
2007 PSEi growth: 21.4%
2006 PSEi growth: 42.3%
The 30-company Philippine Stock Exchange Index (PSEi) ended a turbulent year up by 21.4%. This means that for every P100 invested in the index, the 2007 full-year gross profit was P21.40.
An exceptional performance, indeed, but not as stellar as the 2006 performance of the stock index which surged 42.3%.
Peso-Dollar Exchange Rate, end-2007: P41.28 : $1
Peso appreciation vs. US Dollar in 2007: 18.8%
The Philippine Peso is now considered the best performing currency in Asia in 2007 after it appreciated by almost 19% versus the US Dollar.
The peso rise both had positive and negative effects on the economy. On one side, it helped mitigate the impact of increasing oil prices. Had the peso not appreciated, commodity prices would have exorbitantly risen due to the ever-increasing price of oil in world markets. On the other hand, the rising peso translated to lower purchasing power especially for families of Overseas Filipino Workers (OFW). Those earning in dollars are now getting less pesos compared to a year ago.
Next week, we’ll post detailed analysis of the stock and mutual funds performance in 2007 and also tips for OFWs and overseas Filipinos on how to deal with the falling US dollar.
Western Union’s November MTCN for Adsense now out
December 28, 2007
Surprise, surprise!
I logged in today to my Google Adsense account and saw that the Money Transfer Control Number (MTCN) for my November Adsense payout via Western Union Quick Cash is already available.
Since the Western Union (WU) method was offered two months ago, the MTCN was always released to publishers a bit delayed. The Money Transfer Control Number for my October 2007 earnings, for example, appeared on my account only on November 1. For my November earnings, I was able to receive the payout only on December 2.
But with the MTCN for November now out, I can encash my Adsense income before the end of December 2007. Woot!
Happy New Year, indeed!
P.S. Before you encash your Adsense earnings, here’s a Western Union payout tip. Scout first for the WU branch that offer the highest exchange rate because not all Western Union pickup outlets have the same rates.
Again, happy new year!
On the last trading day of the year, will the PSE be up or down?
December 28, 2007
Today, December 28, is the last trading day of the Philippine Stock Exchange (PSE). On Monday and Tuesday next week, the markets are closed for New Year celebrations, and the first trading day in 2008 is on Wednesday, January 2.
Is the market set to close higher today because portfolio managers and traders might try to “window dress” their portfolios in time for year-end 2007?
A bit likely. In a previous article, we explained that Window Dressing is a strategy employed by fund managers wherein they try to make their portfolio look as attractive as possible before presenting it to clients or stockholders.
In the days leading up to the end of the quarter or the year, fund managers would purchase recent winners while selling old holdings at a loss, in an attempt to show that they own the best-performing stocks of the period.
Funny, odd news this Christmas
December 26, 2007
It’s Christmas time now but that doesn’t stop people from making weird or absurd things. Here’s a collection of funny and odd stories related to Christmas that we spotted on several news websites.
Enjoy the holidays and enjoy these holiday stories!
#1 - Thieves steal Noche Buena Christmas food
Three men held up a Goldilocks store in Pasig City just before closing time on Christmas Eve, taking with them not only cash and personal belongings of the victims, but also a large box of puto, a type of rice cake considered to be one of the store’s specialties.
In a separate incident, a taxi cab driver ran away with a lechon (roast pig) that was supposed to be delivered to a house in Quezon City on December 24.
Trojan infects Google Adsense
December 26, 2007
If you clicked on a Google Adsense advertisement and strangely landed on a site that promotes Viagra, gambling, or pornography, chances are you have been infected by a trojan that targets Google Adsense ads.
Anti-virus software company Trend Micro reported that a Trojan called TROJ_QHOST.GC has managed to hijack Google’s text advertisements which prevents users from connecting to page2.googlesyndication.co which is the server that directs to Adsense advertisements.
When installed, the trojan points a user’s browser to another IP address that “functions as a rouge server to third party advertisements about gambling and pornography.”
To avoid having the trojan infect your computer, refrain from downloading or installing any file sent by an unknown sender.
Trojans, as well as viruses, are also easily transferred via peer-to-peer networks (such as BitTorrent, etc.) so make sure that you scan your PC every time you connect to those systems.
Merry Christmas in various languages
December 25, 2007
Happy Holidays!
We at Pinoy Money Talk (PMT) wish you and your family a joyful Christmas and a Prosperous New Year!
To greet your friends in other countries, check below for a list of the “Merry Christmas” greeting in over a hundred languages.
Perez Hilton and other bloggers top Forbes’ Top 25 Web Celebs list
December 23, 2007
Forbes Magazine recently released its list of Top 25 web celebrities, compiling the most popular and/or influential online personalities today.
The magazine defined “Web Celeb” as a person famous primarily for creating or appearing in internet-based content and for being highly recognizable to a Web-based audience. The shortlisted personalities were then ranked according to their web references in Google, Alexa traffic and Technorati rank of their website, and TV, radio, and other press mentions.
Entertainment gossip blogger Perez Hilton topped the list followed by a string of bloggers and blog owners.
Only goes to show that, on the internet, just about anyone can be a star.
Wonder when a Filipino can be included on the list? Can YouTube sensation Charice Pempengco manage to grab a slot next year? We hope! But first, she’ll have to create a website or YouTube channel first then work her way towards becoming popular worldwide in order to be part of the list.
The Web Celeb 25
#1. Perez Hilton (Mario Lavandeira)
Age: 29
What: Celebrity gossip blogger (www.perezhilton.com)
Controversial gossip blogger Perez Hilton, whose real name is Mario Lavandeira, styles himself as “The Queen of Mean” and has earned a rabid following, thanks to his sense of humor, snarky voice and irreverent habits — like doodling rude captions on paparazzi photos. His blog is hugely popular and Perez is increasingly becoming a TV star, with gigs including guest-hosting The View, appearing as a contestant on MTV’s Celebrity Rap Superstar and hosting his own series of specials, What Perez Sez, on VH1.
The richest 20 teen stars of 2007
December 21, 2007
Based on Forbes Magazine’s list of “The Top-Earning Young Superstars under 25,” there are apparently two groups of highest paid youngsters today: the Athletes and the Showbiz Celebrities.
In the Forbes’ Top 20 list released this month, five are athletes while the rest are actors or singers.
LeBron James, 23, of NBA’s Cleveland Cavaliers currently tops the list, thanks to the $27 million he earned from June 2006 to June 2007. Other sports personalities on the list include 22-year-old footballer Reggie Bush (#2) and 20-year-old tennis player Maria Sharapova (#3).
Harry Potter’s magic worked for its three main celebrities, with lead star Daniel Radcliffe, 18, pocketing $15 million, landing him on the #6 spot. Co-stars Emma Watson (#15) and Rupert Grint (#16) had $4 million apiece.
The Forbes list calculated salaries, winnings, endorsement deals and royalties of each young star earned from June 2006 to June 2007.
The Top-Earning Young Superstars
#1. LeBron James, $27 million
Born: Dec. 30, 1984
NBA’s All-Star MVP and Rookie of the Year LeBron James led the Cleveland Cavaliers to their first conference title ever this year. When not on the court, King James oversees construction of his 35,000-square-foot home outside of Cleveland, which includes a bowling alley, casino and barber shop. This year he also acquired a minority stake in Cannondale, manufacturer of high-performance bicycles. Read more
Prison ‘Thriller’ and other Top 10 Viral Videos of 2007
December 20, 2007
A video of prison inmates in Cebu, Philippines dancing to Michael Jackson’s “Thriller” is No. 5 in Time Magazine’s Top 10 Viral Videos of 2007.
Other top viral videos include that of an American gay teen passionately defending Britney Spears (#1), a Will Ferrell comedy clip (#2), Miss South Carolina’s boo-boo during the Miss Teen USA pageant (#3), a Saturday Night Live musical satire of Iranian President Mahmoud Ahmadinejad (#6), and CBS newscaster Dan Rather obsessing over how to dress for a rooftop broadcast (#8).
The complete list here.
Highlights of the Top 10 Viral Videos after the jump.
#5. Prison Inmates’ “Thriller” Video
Orange-jumpsuited accused murderers, rapists and drug dealers paid homage to Michael Jackson’s Thriller in a dance performance filmed at the Cebu Detention and Rehabilitation Center in the Philippines.
ABA offers stock rights to shareholders
December 20, 2007
Abacus Consolidated Resources Holdings, Inc. (Stock Code: ABA) is offering additional shares through a 1:4 Stock Rights Offering to all stockholders as of ex-date of December 18, 2007.
Holders of ABA shares before the ex-date are entitled to the offering. Offer price is Php 0.01 per share.
Proceeds from the rights offering will be used to assist its operating partner in progressing the company’s mining interests.
More about stock rights after the jump.
