Ayala-led telcos hike rates on forex costs

Manila Times Saturday, 19 December 2009 GLOBE Telecom Inc. and Innove Communications Inc. said they will increase service charges for their landline subscription in Luzon this month to offset foreign exchange losses.

The two Ayala-led telcos have informed the regulator that they raise their currency exchange rate adjustment (CERA) by 217.98 percent in December given a P47.03:$1 exchange rate. Continue reading here http://www.manilatimes.net/index.php/business-columns/8070-ayala-led-telcos-hike-rates-on-forex-costs