Finland-based mobile social messaging startup Jongla recently raised EUR1.4 million in a funding round from Oy Ingman Finance to be used for the development of its youth-oriented messaging app.

Analyst Andrew Temming of US-based investment firm Renaissance Investment Management said the firm had yet to find a stock on the Philippine Stock Exchange that they'd like to invest on.

Typhoon Haiyan's devastation would also lower the growth of the Philippine economy. The Philippine benchmark index had its largest decline in the last six weeks amidst concerns from the consequent devastation from Super Typhoon Haiyan would affect the economic growth of the country.

Typhoon Yolanda (International Name: Haiyan) devastated several provinces over the weekend as it cut across the Philippines packing gust winds of 275 kph.

Kampac International Chairman Charles Ampofo lauded the Philippines' economic growth. It was recently reported that a Dubai based oil firm is negotiating a deal to develop a USD5 billion Energy City project located in the Philippines.

Philippines' Robinsons Retail Holdings Inc. had decided to cut its public offering debut price by up to a third, said a report from Reuters.

According to Philippine Central Bank Governor Diwa Guinigundo, the country had been prepared for the eventual stimulus reduction by the US Federal Reserve.

The Philippine government presented opportunities for investments in the country to Chinese investors at the CAEXPO.

After the US Federal Reserve announced thw cutting back its bond buying program, investors who had entered Asia last four years ago were set in fears and had started exiting financial markets.

The Philippines' Department of Finance announced that it had begun to accept development proposals under the Philippines-Italy Debt for Development Swap Program.