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Saturday, October 11, 2008 |
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World markets in
tailspin |
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RP bourse falls by 8.3 percent to 10-year low |
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LONDON: Global stocks went into a tailspin on Friday, with
double-digit losses in Frankfurt, London and Tokyo, and an
8.3-percent drop in the Philippine Stock Exchange.
World finance chiefs were
preparing an emergency meeting in Washington, D.C. as a wave of
panic selling swept across markets. Interest rate cuts and billions
of dollars’ worth of cash injections by central banks failed to
calm the mayhem.
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O T H E R R E P O R T S
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FDI falls 70
percent on global slowdown
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FOREIGN direct investment (FDI)
in the first seven months of the year fell, with the Bangko Sentral
ng Pilipinas (BSP) blaming the decline on the global economic
slowdown.
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Tax collection
chief resigns, says Palace
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Commissioner Lilian Hefti of the
Bureau of Internal Revenue (BIR) has resigned, deputy presidential
spokesman Anthony Golez said in a text message Friday.
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Media To Blame For
Corruption Perception, Says Gma
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The press is to blame for the
perception that the Philippines is a corrupt country, President
Gloria Arroyo said Monday.
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Alaska court
allows Palin probe to proceed
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JUNEAU, Alaska: This state’s
Supreme Court on Thursday (Friday in Manila) dismissed a bid by
Republican lawmakers to halt an abuse of power investigation against
Governor Sarah Palin, court officials said.
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Seller of melamine
learns hard lesson
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SHANGHAI: Chen Changhua was
enraged when he read that melamine—the chemical he sells for a
living—was found in baby formula. When he realized his infant son
might be drinking it, he nearly fainted.
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Nobel Peace Prize
goes to M. Ahtisaari
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OSLO, Norway: The Nobel Peace
Prize was awarded Friday to Martti Ahtisaari, the former Finnish
president who has spent 30 years ending conflict in trouble spots
ranging from Kosovo to Namibia and Indonesia.
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