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Monday, October 06, 2008 |
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Tech, shipping, property firms vulnerable
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Moody’s warns of tighter credit access in near term
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MOODY’S Investors Service warned the US financial turmoil would
further tighten credit access in the Asia Pacific, with the crunch
more pronounced for companies with weak liquidity and financial
profiles.
Clara Lau, chief credit officer of Moody’s
Asia Pacific Corporate Finance group, said negative rating actions
in Asia Pacific excluding Japan, continued to outnumber positive
actions during the second and third quarters of the year, reflecting
weakening financial profiles and liquidity due to tougher operating
conditions.
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BSP said to establish dollar repo facility
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THE Bangko Sentral ng Pilipinas (BSP) is likely to set up a
dollar-denominated repurchase agreement (repo) facility to ease the
current tightness in the supply of dollars, banking sources said.
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Revenue effort to dip-Finance
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THE Philippines’ revenue effort next year will decline due to a
lower target for state asset sales, the Department of Finance said.
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Peso seen to weaken
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THE peso will further weaken next year, as global risk aversion
would continue in light of the US economic slowdown, according to
UBS Securities Philippines Inc.
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Stock market to take its cue from US developments
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THE Philippine stock market will take its cue from the US
Congress’ passage of the massive bailout package for America’s
troubled financial sector, according to dealers on Friday.
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Capitalism loses a compass
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PARIS: Capitalism is in the deepest crisis for 80 years, drunk on a
binge of cheap money, which made fools of the regulators, analysts
say.
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Europe fights financial storm as bank deal unravels
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PARIS: The leaders of Europe’s four main economic powers vowed
Saturday to protect fragile banks in their fight against the global
credit crisis as the biggest rescue in German financial history
collapsed.
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Milestones since Crash of 1929
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PARIS: There is widespread agreement that the financial crisis that
has shaken the world in the last 18 months, and brought down top
names in the United States and Europe is the most severe since the
stock market crash of 1929.
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AMID ECONOMIC SLOWDOWN
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SM eyes more hypermarkets
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THE SM group plans to build more hypermarkets within Metro
Manila and other parts of the country amid the expected slowdown in
the economy.
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Financial turmoil could shake up Nobel Economics Prize
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STOCKHOLM: The current financial crisis is raising questions about
the legacy of the Nobel economics award, with prized liberal market
theories being blamed for the mess and some experts saying the
turmoil will in future push the prize in a new direction.
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PSE transfer faces delay
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THE planned transfer of the Philippine Stock Exchange (PSE) may be
delayed due to few changes in the design, its president said.
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BEYOND
THE BUZZWORDS
By Reylito A.H. Elbo
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Viral marketing: Making the
world smaller
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THIS time, I’m thinking of doing an out-of-the-box management
research because I was inspired by the Ig Nobel Prize that gave wide
recognition to our everyday medicine also known as Coca-Cola.
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Story>>
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