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Loading ...GMA News.tv » Fed: Economic woes will last despite radical moves
WASHINGTON - Even as Federal Reserve officials slashed their key interest rate to a record low and pledged to use other unconventional tools to fight the worst financial crisis since the 1930s, they still feared the US economy would be stuck in a painful rut for some time. [Link]
GMA News.tv » Maynilad eyes P168-B spending in 14 years
MANILA, Philippines - Maynilad Water Services, Inc. will spend P168.1 billion until the end of its concession in 2022 to provide sewerage and sanitation services to Metro Manila"s east zone. [Link]
GMA News.tv » Banks" bad loan ratio improves in October
MANILA, Philippines - Universal and commercial banks" non-performing loans as proportion of total loans dipped in October after they extended more loans and trimmed more soured loans. [Link]
GMA News.tv » Natural gas shortages slam some European nations
VIENNA, Austria - The Russia-Ukraine natural gas dispute hit Europe with the force of a winter storm Tuesday, cutting or limiting supplies to nearly a dozen nations. Tens of thousands of people were left without heat and governments scrambled to find alternate energy sources. [Link]
GMA News.tv » Slower inflation could lead to fresh rate cuts
MANILA, Philippines - The country's annual inflation rate eased further to 8% in December, the lowest since April last year, as food and energy prices continued to drop. [Link]
GMA News.tv » Oil gives up early gains on more bad economic news
COLUMBUS, Ohio - Oil prices gave up early gains Tuesday as fresh signs of a deepening US recession trumped tensions in the Middle East and worries over natural gas shortages in Europe. [Link]
GMA News.tv » Cebu Pacific removes fuel, insurance fees
MANILA, Philippines - Budget airline Cebu Pacific will remove fuel and insurance surcharges for all domestic flights starting today, in a bid to stimulate travel amid a slowing global economy. [Link]
GMA News.tv » Peso sustains gains on Dec. inflation data
MANILA, Philippines - The peso on Tuesday soared past the crucial P47-per-dollar barrier as investors cheered on a better-than-expected inflation data in December. [Link]
GMA News.tv » US stocks edge higher after economic reports
NEW YORK - Wall Street proceeded cautiously Tuesday, with stocks rising moderately following disappointing readings on pending home sales and factory orders. [Link]
GMA News.tv » Lack of guidelines delays PERA law implementation
MANILA, Philippines - Implementing guidelines of a law seeking to establish voluntary personal retirement plans remain on the drawing board close to five months after President Gloria Macapagal Arroyo signed the measure. [Link]
GMA News.tv » Govt poised to gain from market liquidity
MANILA, Philippines - The government has drawn up a list of options to take advantage of a highly liquid market that is expected to be infused with more cash as domestic debts running into hundreds of millions of pesos mature next month. [Link]
GMA News.tv » Exports seen to contract as global crisis deepens
Sales of exported goods could contract by 3 percent this year as revenues from electronics-the country"s primary product-are expected to plummet by as much as a tenth, the Export Development Council (EDC) yesterday said. [Link]
GMA News.tv » Negative export growth seen in 2009
MANILA, Philippines - Sales of exported goods could contract by 3% this year as revenues from electronics - the country"s primary product - are expected to plummet by as much as a tenth, the Export Development Council (EDC) said Tuesday. [Link]
GMA News.tv » Oil above $49 as investors eye Gaza conflict, OPEC
LONDON - Oil prices neared $50 a barrel Tuesday amid signs OPEC is implementing its announced production cuts and as Israel's ground offensive in Gaza kept tensions high in the oil-rich Middle East. The gas dispute between Ukraine and Russia also caused gas prices to jump. [Link]
GMA News.tv » Asset sale proceeds may preclude RP's need to sell bonds
MANILA, Philippines - The Philippines may no longer need to sell retail treasury bonds (RTBs) after government said it has sufficient cash to pay for its requirements. [Link]
GMA News.tv » Insular Life launches toll-free number for customers
MANILA, Philippines - Insular Life, the Philippines" first and largest insurance company, launched a local toll-free number for its customers after it partnered with Cisco, a software and hardware computer firm. [Link]
GMA News.tv » RP seeks approval anew to fund projects using Chinese ODA loans
MANILA, Philippines - Manila will again seek Beijing"s approval to bankroll development projects using low-interest loans from China, the Department of Trade and Industry (DTI) said. [Link]
GMA News.tv » Filipinos to buy fewer cellphones this year as they 'prioritize' expenses
MANILA, Philippines - Filipinos may buy fewer mobile phones this year as users are expected "prioritize" their expenses and as higher prices eat into their incomes, a research company said. [Link]
GMA News.tv » DMCI secures contract to build Fairmont Hotel in Makati City
MANILA, Philippines - Construction firm DMCI, a unit of Consunji-led investment firm DMCI Holdings Inc., has been tapped to construct the Raffles Suites and Residences and Fairmont Hotel in Makati City. [Link]
GMA News.tv » Tourism, shipping in Subic Bay to defy global slowdown
MANILA, Philippines - Tourism, shipping, and manufacturing industries in Subic Bay Freeport are "expected to defy the global slowdown," said the agency which runs the former US naval base. [Link]
