The German Club Manila

Der Deutsche Klub Manila was formed in January 1906 by German members of its predecessors, the "Casino Union", a loose association of German-speaking expatriates, which dates back to 1880. As such the German Club is the oldest, predominantly foreign, social groupings in the Philippines, with its tradition of excellent dining and impeccable service. After occupying various locations around Old Manila, in 1979 the Club purchased its own prestigious premises in the penthouse of Eurovilla II building at Legaspi City, right in the heart of Makati.

(Photo caption: this writer together with German Consul and Administration and Legal Department Head of the German Embassy Manila, Ulrich Koehler).

With its fine ding facilities, a comfortable bar area and a smoking lounge, members and their guests will surely enjoy dining and relaxing at the Club. Chess, the German game "Skat" and other card games are played regularly. Once a month, their German speaking members also meet for the "Wirtschaftsstammtisch", their regular business discussion. Members also enjoy preferential arrangements with out of town sport facilities for golf and tennis. The Club organizes outings to rural locations of cultural interest or with recreational amenities for members, their families and guests.

Yes, German visitors to Manila are indeed encouraged to contact the Club to arrange privileges for their temporary enjoyment of first-rate dining and bar facilities.

For more news and events of the German Club, please visit

www.germanclub.ph

Philippine Pesos Slides Again...

By Lilian Karunungan 

 

The Philippine peso weakened to a nine-month low on concern the Federal Reserve will scale back its monetary stimulus, reducing the flow of funds to emerging markets. Government bonds fell for a third day.

The Dollar Index advanced for a second day after U.S. data yesterday showed consumer confidence climbed to the highest level in more than five years and home prices increased by the most in seven years. Foreign funds sold $85 million more Philippine equities than they bought in the last three days, exchange data show. The Philippine Stock Exchange Composite Index fell 3.8 percent since reaching a record high on May 15. It was 0.2 percent higher today.

“People are expecting a tapering of quantitative easing in the U.S.,” said Joey Cuyegkeng, an economist in Manila at ING Groep NV. “The relatively richer valuation in the stock market has also prompted some offshore profit-taking from the Philippines.”

The peso declined 0.9 percent to 42.335 per dollar as of 10:05 a.m. in Manila, the lowest level since Aug. 30, according to prices from Tullett Prebon Plc. The currency dropped 2.7 percent this month, taking this year’s loss to 3.1 percent. 

The Dollar Index, which Intercontinental Exchange Inc. uses to track the green back against currencies of six major U.S. trading partners, added 0.17 percent to 84.244. The Fed purchases $85 billion of bonds monthly.

The yield on the government’s 8 percent bonds due July 2031 rose 15 basis points to 4.15 percent, according to prices from Tradition Financial Services.

Good of you? Good for us? Good for whom?