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Wednesday, September 16, 2009 |
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Jobless Filipinos increase amid crisis
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By Darwin G. Amojelar, Senior Reporter
THE number of unemployed Filipinos rose in July as both the
government and the private sector generated fewer jobs amid an
increase in those seeking work, the National Statistics Office (NSO)
said Tuesday.
The NSO reported an unemployment rate of 7.6
percent, or 2.92 million Filipinos out of work in July, from 7.4
percent, or 2.75 million in the same month last year.
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Govt raises fresh
cash from sale of retail IOUs
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THE Philippines raised fresh money on Tuesday from the sale of
retail Treasury bonds (RTBs), the proceeds of which are meant to
plug a budget deficit seen rising as the government jacks up
spending to keep the economy afloat.
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OFW remittances accelerate in July
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The funds sent home by overseas Filipino workers (OFWs) grew faster
in July as the global economy has started to stabilize, the Bangko
Sentral ng Pilipinas (BSP) announced Tuesday.
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A YEAR AFTER LEHMAN COLLAPSE
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More firms turn to debt market for funds
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THE Asian Development Bank (ADB) sees Philippine corporate
fund-raising through the issuance of bonds, or IOUs to continue as
companies seek alternative sources of funds amid investors’
improving appetite.
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ANALYSIS
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A YEAR AFTER LEHMAN COLLAPSE
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Philippine banks pick up the pieces after Lehman
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A YEAR after the collapse of Lehman Brothers, Philippine banks have
picked up the pieces as they improved their risk management
operations and widened their asset base, according to industry
players.
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TO SUPPORT RP ECONOMY, FINANCES
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ADB, World Bank extend more aid
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The Asian Development Bank (ADB) on Tuesday said it will extend a
multimillion-dollar loan for the
Philippines to improve its fiscal discipline and investment climate.
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Business groups appeal for passage of reform bills
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BUSINESS groups have called on the two chambers of Congress to
immediately enact key economic legislation, before most lawmakers
shift their focus to their individual bids for the upcoming 2010
elections.
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Maynilad secures concession extension
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The owners of Maynilad Water Services Inc. on Tuesday said
Metropolitan Waterworks and Sewerage System (MWSS) has approved the
company’s petition to extend its concession contract for the West
zone of Metro Manila.
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New hydropower plant in Visayas eyed
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ORIENTAL Energy & Power Generation Co. said it will put up a
hydroelectric plant in the Visayas to help alleviate the region’s
power woes.
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Beijing takes US to WTO amid trade tension
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BEIJING: China has hauled the United States before the World Trade
Organization in a bid to buy time and prevent a tariffs row from
overshadowing top-level talks at next week’s G-20 summit, analysts
said Tuesday.
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Family-run firms ride out global financial storm in Italy
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MILAN: The family firm ethos of Italian businesses which steered
clear of the lure of the stock exchange has shielded many luxury
brands from the impact of the global financial crisis, according to
industry figures and experts.
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Foreign direct investment in China higher in August
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BEIJING: Foreign direct investment in China rose 7 percent
year-on-year in August, snapping 10 straight months of declines, the
commerce ministry said Tuesday.
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Oil down in Asian trade
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SINGAPORE: Oil prices dropped in Asian trade Tuesday with investors
worried that a US-China trade row could derail the global economic
recovery, analysts said.
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Yahoo! cashes in on investment in Alibaba.com
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WASHINGTON, D.C.: US Internet company Yahoo! announced on Monday
that it has sold its one percent stake in Hong Kong-listed
e-commerce company Alibaba.com for some $150 million.
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Microsoft testing ‘Visual Search’
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WASHINGTON, D.C.: US software giant Microsoft unveiled a twist on
the Internet search experience on Monday with a new feature which
allows Web surfers to search using image galleries instead of text
links.
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VIEWS
FROM
A BRIT
By Mike Wootton
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Doing business in the
Philippines
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For the World Bank to say that doing business in the Philippines is
about the same level of difficulty as doing business in Cambodia is
an indictment. Of course it depends how you measure it and the World
Bank has, as is to be expected...
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