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Wednesday, October 08, 2008 |
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September consumer
prices
ease within BSP forecast
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By Chino S. Leyco, Reporter
CONSUMER prices began easing in
September after peaking at a near 17-year high the month before.
In a statement, the National
Statistics Office said inflation last month slowed to 11.9 percent
from 12.5 percent in August. The September figure is within the
Bangko Sentral ng Pilipinas’ (BSP) forecast of between 11.8
percent and 12.7 percent.
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Dollar reserves
suffer decline for second month
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THE Philippines’ dollar reserves declined for a
second month in September, according to the Bangko Sentral ng
Pilipinas (BSP).
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Peso, stock market
weakness persists on recession fears
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FINANCIAL markets remained weak, with Philippine
share prices falling 3 percent on Tuesday over the continued global
financial turmoil, dealers said.
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PDIC to strengthen
oversight function
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AMID the widening crisis among global banks,
state-run Philippine Deposit Insurance Corp. (PDIC) said it would
strengthen its oversight function to promote financial stability and
protect depositors of local lenders.
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Ginebra to buy
non-alcoholic assets of parent
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GINEBRA San Miguel Inc. (GSMI) told the Philippine
Stock Exchange on Tuesday that it would buy its parent company’s
non-alcoholic business.
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Ex-IMF chief says
Asian region will ride out crisis,
sees global economic recovery next year
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A FORMER chief of the International Monetary Fund (IMF)
sees the Asian region, including the Philippines, weathering the
worst financial shock in decades in the United States arising from
defaults in its high-risk sub prime home loan sector.
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Govt fails to
borrow on market uncertainty
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THE government failed to borrow fresh funds through
the sale of seven-year Treasury bonds due to market uncertainty over
the global financial turmoil.
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Markets slide as
govts struggle to stem turmoil
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TOKYO: The selloff on the world’s stock exchanges
continued in Asian markets Tuesday, as governments scrambled to
shore up confidence and stem the turmoil caused by the global
financial crisis.
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Bank of Japan
bucks coordinated rate cuts
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TOKYO: Bank of Japan governor Masaaki Shirakawa on
Tuesday rejected the idea of coordinated interest rate cuts, saying
central banks should set policy based on the health of their own
economies.
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Oil rebounds to
more than 90 dollars in Asia
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SINGAPORE: Crude oil prices rebounded to more than
$90 a barrel in Asia Tuesday but dealers said the underlying trend
is lower after deepening global financial turmoil...
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Hong Kong
investors in Lehman-backed bonds vow to fight on
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HONG KONG: Hong Kong investors vowed on Tuesday to
continue to fight for a full refund of their Lehman Brothers-backed
financial products, despite a government proposal for banks to buy
back their bonds.
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SKorea’s Lee
discounts crisis fears
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SEOUL: South Korean President Lee Myung Bak called
for calm Tuesday as the won suffered its biggest daily loss for a
decade, saying the nation need not fear a repeat of the 1997/1998
financial crisis.
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Ex-Goldman Sachs
exec to head US bailoutReport 13
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WASHINGTON: US Treasury Secretary Henry Paulson
tapped a former Goldman Sachs executive, Neel Kashkari, on Monday to
head the government’s new $700-billion financial bailout program.
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Isuzu says n
expansion amid slowdown
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ISUZU Philippines Corp. said it would maintain its
current production levels amid the global economic slowdown.
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