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Friday, September 19 2008 |
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Asia vulnerable to US crisis |
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Days of less government over – expert
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Asia could be hit hard by the US financial crisis despite limited
direct exposure to instruments linked to sub-prime mortgages,
experts at a Philippine conference warned Thursday.
The region’s potential vulnerability is linked
to its key role in the global current account imbalances, said
Charles Adams, a visiting professor of the National University of
Singapore and a former International Monetary Fund (IMF) official.
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O T H E R R E P O R T S
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Off-shoring, outsourcing stand to gain
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The Philippine off-shoring and outsourcing sector stands to
benefit from the US economic slump, as tough times push American
firms to look for ways to cut operating expenses, local executives
said Thursday.
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STABLE ECONOMY SHIELDS RP FROM WALL STREET WOES
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US Ambassador to the Philippines Kristie Kenney said the stable
local economy has enabled the country to stand its ground against
the economic slump in the United States.
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Clashes with MILF killed 200 plus, says Sec. Teodoro
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Fighting in southern Philippines has claimed more than 200 lives
from the government, rebel and civilian sides since August,
according to the Department of National Defense.
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White House rivals fight over economy
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LAS VEGAS, Nevada: Democrat Barack Obama ridiculed his White House
rival John McCain as a lifelong member of the “old boys’
network” that the Republican said had driven the US economy into
crisis.
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Hillary supporter backs McCain
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WASHINGTON: A former supporter and generous donor to Hillary Clinton
announced Wednesday (Thursday in Manila) she had endorsed
Republican John McCain for president, saying she did so because the
Democratic nominee Barack Obama was an elitist.
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Minority senators face arrest over absences
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Senators belonging to the minority bloc face arrest, if their
boycott of the session continues on Monday, lawmakers said Thursday.
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Firms roll back
rates
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Local petroleum companies have again reduced prices of gasoline,
diesel and kerosene, this time by P0.50 to P1 per liter following a
softening of world oil prices.
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