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Tuesday, September 16, 2008 |
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lehman,
merrill woes shake financial firmament
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RP joins global stocks rout
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THE Philippine Stock Exchange plunged Monday,
joining stock markets across the globe that slumped amid growing
concern about the US banking sector as Lehman Brothers filed for
bankruptcy later in the day.
The composite index fell 109.96 points or 4.2
percent to 2,536.16, its lowest level in six weeks, while the
all-shares index fell 0.55 percent to 1,647.34 points.
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Oil slumps below $100 a barrel amid credit jitters
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SINGAPORE: World oil traded below $100 in Asia Monday after early
assessments showed the damage to US oil platforms by Hurricane Ike
was not as bad as first feared, analysts said.
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Emerging BIR collection below goal
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AFTER conceding it would miss its full-year goal, the Bureau of
Internal Revenue (BIR) has come up with its forecast collections for
the period.
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Bangko Sentral cuts losses at end-July
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THE Bangko Sentral ng Pilipinas (BSP) said its losses have gone down
to the single-digit level at end-July.
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Lehman, Merrill Lynch near end of their rope
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NEW YORK: Lehman Brothers announced its bankruptcy Monday and
another Wall Street titan Merrill Lynch was forced to sell itself as
the global financial crisis tightened its stronghold on the finance
world.
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High interest rates to hurt investments, says private think-tank
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THE high-cost environment will dampen investment activity,
especially in the case of private construction because property
sales are naturally sensitive to interest rates, according to Global
Source.
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Gokongwei group seeks fresh funds for subsidiaries’ expansion
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JG Summit Holdings Inc. on Monday said it would borrow billions
of pesos to finance the capital expenditures of its subsidiaries.
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Basic Energy, Canadian firm tie up for biofuels
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BASIC Energy Corp. (BEC) has signed an agreement with a Canadian
company for the joint development of biofuel projects in the
Philippines.
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Cebu Pacific lobbies for Aussie air talks
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CEBU Pacific is lobbying for the holding of air talks between the
Philippine and Australian governments.
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Landco owners talk up the firm
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METRO Pacific Investments Corp. (MPIC) and AB Holdings Corp. said
they remain bullish about the prospects of Landco Pacific Corp.
despite the possible change in ownership of the property firm.
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PNOC-AFC president steps down
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THE president of state-run Philippine National Oil Co.-Alternative
Fuels Corp. (PNOC-AFC) has resigned, citing health reasons.
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MANAGING
FOR SOCIETY
By Sanoy Jc. Suerte
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Managing strategic change
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Change is ubiquitous. It is happening at a rapid and dizzying pace.
While it is always around us, we sometimes ignore the fact that
things are changing faster than our ability to cope with change.
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