Maniolas

MANILA, Philippines – The local benchmark index fell for the second consecutive session yesterday as preparations for Super Typhoon Ruby’s landfall took the spotlight away from a slower November inflation data. The Philippine Stock Exchange index (PSEi) plunged 0.95 percent or 69.29 points to end at 7,230.56, while the broader all shares index likewise plummeted 0.88 percent or 37.90 points to finish at 4,250. “Sentiment took its cue from progression of preparedness and contingencies for the super typhoon’s anticipated entry,” said Jason T. Escartin, investment analyst at F. Yap Securities. Several flights and sea trips were already canceled yesterday due to the incoming threat of super typhoon Ruby (international name “Hagupit”). The entry of the super typhoon in the country overshadowed positive news provided by local data showing that the pace of price increases last month were slower compared to the previous month. November inflation eased to 3.7 percent from 4.3 percent in October. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Further weakness might be seen for now, unless fresh leads occur overseas,” Escartin said. Market overseas shared the local market’s sour mood, as most Asian shares were down while major indexes in Wall Street also ended in the negative territory. Locally, it was a bloodbath as all counters closed in the red led by services firms which lost 1.68 percent or 35.98 points.

NEW BRANCH. Kenneth and Kristine Kokseng talk to reporters during the opening of Hukad in South Town Center in Tabunok, Talisay. On Wednesday, Hukad introduced five dishes, which include spicy beef flakes, oxtail humba, balot sisig, tropical brulee and ube halayan crisp a la mode. The couple said the dishes will be made available first in their Lahug branch late this month or early next year. (SUN.STAR FOTO/ALLAN DEFENSOR) HOMEGROWN Filipino restaurant Hukad of couple Kenneth and Kristine Kokseng are set for wider expansion next year as more mall establishments sprout across the country. Kenneth, in an interview on Wednesday, told reporters there are two confirmed Hukad branches to open next year, one in Iloilo and the other in Zamboanga. At present, there are 21 branches of Hukad and Golden Cowrie in Visayas and Mindanao, the newly-opened one being Hukad in South Town Center in Tabunok, Talisay. The restaurant opened four branches this year. These are in Tacloban City, Tagum City in Davao, Bacolod and Talisay City in Cebu. Golden Cowrie and Hukad bear the same menu but the former adopts a stand-alone set up while Hukad is inside commercial establishments. “We’re more on Hukad because most of the expansions are inside the malls,” Kenneth said. Of the existing branches, Christine said eight are in Cebu and all are company-owned. The 13 others are franchised. The farthest branch in the Visayas is in Boracay and General Santos in Mindanao. The couple said they are also looking forward to open Hukad in Manila, Read More …

THE RESEARCH arm of Citigroup Global Markets, Inc. has maintained its forecasts for the Philippines for this year and 2015 despite the slower-than-expected economic expansion in the third quarter, but noted that persistent state underspending poses the biggest risk to growth.