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Saturday, October 11, 2008 |
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Electronics weakness persists
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Exports pick up in
August
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By Darwin G. Amojelar, Reporter
DESPITE weak electronics
shipments abroad and declining sales to the United States,
Philippine exports in August slightly accelerated, the government
reported Friday.
The National Statistics Office (NSO)
said export earnings in August rose 6.5 percent to $4.39 billion
compared with last year’s $4.12 billion. In July, exports had
grown 4.4 percent.
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Peso ends volatile
week lower
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THE peso closed weaker at the end of another volatile
week for global financial markets, with dealers blaming continued
negative investor sentiment.
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World finance
chiefs grasp for solutions in firestorm
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WASHINGTON, D.C.: In the face of a growing financial
firestorm finance chiefs from the Group of Seven nations were due to
meet in Washington on Friday in search of a solution.
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BSP cuts banks
some slack, eases credit to SME
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AS the global financial turmoil claims more banks and
credit markets tighten abroad, the Bangko Sentral ng Pilipinas (BSP)
is cutting local lenders some slack and rationing more funds to the
small and medium enterprise sector.
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Local traders
bullish about Philippine prospects
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THE Philippine Chamber of Commerce and Industry (PCCI)
is optimistic that the country would stay afloat despite the ongoing
global economic crisis.
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SSS to invest
abroad once crisis blows over
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STATE-RUN Social Security System (SSS) is actively
seeking financial advisers as it plans to invest abroad once the
global financial
turmoil subsides.
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Courts to decide
Philex-SSS dispute
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The Philippine Stock Exchange (PSE) said on Friday it
is up to the courts to decide on the widely publicized rift within
Philex Mining Corp. over issues involving distribution of shares and
preemptive rights of shareholders.
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Napocor posts
record profit on strong peso
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STATE-OWNED National Power Corp. (Napocor) registered
an unprecedented increase in profits for the third straight year in
light of hefty foreign exchange gains.
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Galoc consortium
eyes Petron, Shell for refinery
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THE Galoc consortium is in talks with the
Philippines’ two largest refiners for the possible processing of
crude in the country’s first oil find in years.
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Oil down four
dollars amid equities ‘bloodbath’
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SINGAPORE: Oil prices fell $4 in Asian trade Friday,
after a “bloodbath” on world equity markets, with traders
increasingly convinced a global economic slowdown will hurt energy
demand, dealers said.
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Flying V launches
ethanol-blended gasoline
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FLYING V on Friday launched ethanol-blended gasoline
in its retail service stations in Luzon in preparation for the
mandated blending of the alternative fuel next year.
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Learning &
innovation
By Moje Ramos-Aquino, FPM
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Screen out
potential white-collar felons
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I believe that the recent cases of government
bailouts of the financial fallout in their country will not solve
their problems.
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Story>>
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