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Friday, October 10, 2008 |
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Amid bailout of global lenders
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RP banks’ capital ratios fall
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PHILIPPINE banks saw their capital erode in the first quarter of the
year, or well before the collapse of big-name lenders around the
world.
In a statement, the Bangko Sentral ng Pilipinas
(BSP) said the capital adequacy ratio (CAR) of local lenders fell to
14.49 percent on solo basis and to 15.49 percent on consolidated
basis at end-March. Compared with a year ago, banks’ CAR stood at
17.54 percent and 18.83 percent on solo and consolidated bases,
respectively.
CAR is a risk-sensitive measure of a bank’s
solvency, relating a lender’s capital to assets weighted according
to their relative riskiness. Solo basis refers to the bank on a
standalone basis, while consolidated includes its subsidiaries and
affiliates.
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CBD property values seen to remain flat
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A PROPERTY research firm expects developable land values in the
Philippines’ central business districts (CBD) to remain flat in
the next 12 months due to an oversupply of business process
outsourcing (BPO) office space and residential condominiums.
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PDIC eyes hike in deposit insurance coverage to strengthen banks
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STATE-RUN Philippine Deposit Insurance Corp. (PDIC) said it supports
the proposal to double insurance coverage to enhance depositor
protection and strengthen the banking system.
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S&P warns of downgrade on poor revenues
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STANDARD and Poor’s Ratings Services warned of a possible
credit-rating outlook downgrade to negative from stable if the
Philippines cannot sustain improvement in revenue collections
leading to a rising budget deficit.
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Inflation projected to ease further
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CONSUMERS may heave a sigh of relief as inflation will start easing
in the fourth quarter, according to First Metro Investment Corp. (FMIC).
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Domestic stock market falls further on bargain hunting
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LOCAL share prices closed lower Thursday on bargain hunting
following a coordinated rate cut by global central banks, dealers
said.
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Government debt inches up on more borrowings
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THE Philippine government’s outstanding debt increased year on
year at end-July as the country borrowed more than it repaid, the
Bureau of Treasury said Thursday.
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Oil flow from Galoc field finally gets going
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The country has moved closer to its goal of energy independence with
the start of oil production from the Galoc field in offshore
Northwest
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Australia eyes further trade relations with Philippines
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Australia has resolved to expand further its trade relations with
the Philippines, especially in the mining, automotive, food,
agriculture and services sectors, Australian officials said
Thursday.
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Asian stocks mixed after rate cuts
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HONG KONG: Asian stocks were mixed Thursday as investors remained
cautious about the global economy after a series of interest rate
cuts by some of the world’s major central banks tried to revive
confidence.
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Roxas Holdings seeks strategic partners for biofuels venture
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Roxas Holdings Inc. (RHI) is seeking a strategic or financial
investors that can help the group grow its new business in the
biofuels industry.
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Small telco to operate Internet Broadband
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Fiber Telecommunications Inc. has obtained a regulatory approval to
offer Internet data services in Metro Manila and eventually expand
throughout the country.
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