ADB approves $200-M swap financing for RP.
Byline: EDU H. LOPEZ The Asian Development Bank (ADB) has approved a $200-million peso-denominated financing facility and a cross-currency swap scheme. The Philippines is the first member-country to implement the pilot project which will be duplicated in other countries, said Ajay Sagar, ADB senior structured...

NEWS IN BRIEF.
Peso closes at P51.375 The peso closed at P51.375 to the US dollar yesterday at the Philippine Dealing System at the Bankers Association of the Philippines from P51.28 the previous day. The weighted average rate depreciated to P51.349 from P51.226. Total volume amounted to $99.7 million. ...

NEWS IN BRIEF.
Peso closes at P51.295 The peso closed firmer at P51.295 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P51.35 the previous day. The weighted average rate depreciated to P51.334 from P51.321. Total volume amounted to $79.5 million....

HIGH-END SALES FADING IN AUSTRALIA.
Australian department store chains are suffering as increasingly cost-conscious consumers opt for shopping at the nations growing number of discount stores. Most department store chains got their start in Australias leading metropolitan areas, but have struggled to establish a presence in smaller urban markets. By contrast, discount stores are...

DECLINING CONFIDENCE HITS KOREAN CONSUMPTION.
Both business and household confidence slipped during the early months of 2003 and that will undermine growth in overall expenditure through at least the third quarter. This year, the bubble in household credit spending burst, accompanied by softening residential real estate values. That will work against a rebound in...

MIXED PANORAMA FOR AUSTRALIAN COMMERCE.
Australian retail sales experienced their biggest decline in 18 months during December of 2002, but signs of moderate retail sector growth emerged early this year. It now looks as though retail sales for 2003 should show an annual gain of 2 to 4 percent driven by firm demand for...

RCBC Savings expands branch network.
Byline: FIL C. SIONIL RCBC Savings Bank, the wholly-owned subsidiary of Rizal Commercial Banking Corporation, is expanding its network in the countryside to support its thrust to strengthen its foothold in consumer and small and medium-scale enterprises (SMEs) lending. In an interview, RCBC Savings President...

Arab banking.
In the first of a two-part special report, MOIN SlDDIQI examines the performance of regional banks. In this month's issue the concentration is on financial institutions in the Gulf states. The Arab banks, as a consequence of a rapid environmental changes in the 1980s, have had to adjust to...

Mid-East banks enter new era.
THROUGHOUT THE Middle East banks are rebuilding through technology, replacing ten-year-old core systems in a bid to offer their retail customers a broader range of services and automated access to the bank. Technology is a key strategic weapon for retail banking in the region, with automated teller machine's (ATMS)...

BUSINESS BEAT.
Byline: The Register-Guard People Gary Martin has been hired as a broker at C.W. Walker & Associates LLC in Eugene. Martin most recently served as construction manager for C.W. Walker Construction LLC, and previously managed his own construction company. He also...