Saturday, November 21, 2009
Business
MANILA - Weak revenues caused the Philippines to exceed its full-year budget deficit target after just 10 months, the government said Wednesday. Spending outstripped revenues by 28.5 billion pesos (610 million dollars) in October, bringing the 10-month budget gap to 266.1 billion pesos, according to data released by the finance department.
"We realise that we have already breached our full-year deficit ceiling of 250 billion pesos as of end-October," Finance Secretary Margarito Teves said in a...
MANILA - Philippine share prices closed 0.68 percent higher on Wednesday, with mining stocks benefiting from higher metal prices, dealers said.
The composite index gained 20.52 points to 3,052.61 while the all-shares index added 0.38 percent to 1,906.28 points. There were 53 gainers against 61 losers and 70 that were unchanged.
Volume turnover stood at 1.566 billion shares worth 4.258 billion pesos (91.12 million dollars).
The local currency traded at 46.727 to the dollar. "People have bee...
MANILA- The World Bank said Wednesday it would lend 405 million dollars to help 376,000 households in the poorest parts of the Philippines.
The loan will be used to give direct cash payments to impoverished households, as well as fund a "national household targeting system" to identify those who need assistance, the World Bank said in a statement.
"The... programme provides cash grants to poor households to keep their children in school and give them health care, as well as promoting adequat...
MANILA - Philippine share prices closed 0.69 percent higher Tuesday as investors dumped overbought mining issues in favour of blue-chips, dealers said.
The composite index added 20.73 points to 3,032.09, while the all shares index added 0.67 percent or 12.59 points to 1,899.07 points. Turnover reached 2.73 billion shares worth 3.61 billion pesos (77.43 million dollars) with 66 issues up, 46 down and 62 others unchanged.
The peso traded at an average of 46.608 to the dollar. "We're aligned wi...
WASHINGTON - A clear majority of Americans see China as an economic threat, a poll showed Monday, as Barack Obama sought to bolster relations on his first trip to Beijing and Shanghai as president.
More than 70 percent of those questioned in the CNN poll said they considered the Asian giant to be an economic threat, while only 28 percent disagreed with the notion.
Two-thirds of those surveyed said they saw China as a source of unfair competition for American companies, while only a quarter...
MANILA - Philippine shares will likely move in the same direction as US stocks next week with few strong leads at home to drive the market after it hit a 20-month high, dealers said here Friday.
The composite index rose 102.85 points or 3.5 percent over the week to close at 3,034.32 points. Average daily volume amounted to 5.29 billion shares while average value stood at 4.59 billion pesos (97.85 million dollars).
The market closed at its highest level in 20 months on Thursday due partly to ...
Last October 19, 2009 Governor Arnold Schwarzenegger signed legislation that will prevent homeowners from being scammed by home loan modification practices. The governor signed Senate Bill 94, which became effective immediately. This new law prohibits any person from charging advance fees to homeowners in connection with home loan modification services. Fees for the services may be charged only after the services have been performed and only after providing a specified notice to borr...
MANILA - Philippine share prices closed 0.88 percent higher Thursday with mining issues dominating trading due to surging metals prices, dealers said.
The composite index added 26.78 points to 3,073.92, while the all shares index rose 1.32 percent or 24.86 points to 1,910.63. After local share prices advanced 1.68 percent the previous day, turnover was again heavy with 5.59 billion shares worth 5.14 billion pesos (110.18 million dollars) changing hands.
Ninety-seven issues advanced, 36 decli...
MANILA - Philippine share prices finished 1.68 percent up at a 19-month high Wednesday, driven by soaring international gold prices, which lifted mining issues, dealers said.
The composite index added 50.43 points to 3,047.14, while the all shares index rose 1.04 percent, or 19.52 points, to 1,885.77. The key index ended at its highest level since April 2, 2008, when it finished at 3,048.31.
Turnover was heavy with 5.12 billion shares worth 5.44 billion pesos (116.28 million dollars) changin...
MANILA- Philippine share prices closed 2.78 percent higher on Tuesday, lifted by a rally in overseas markets, dealers said. The composite index gained 81 points to 2,996.71 while the all-shares index added 1.86 percent to 1,866.25 points.
There were 88 gainers against 33 losers against 50 that were unchanged. Turnover was heavy with 6.94 billion shares worth 5.18 billion pesos (110.63 million dollars) changing hands.
The local currency traded at 46.806 pesos to the dollar. "We're keeping in ...
1 2 3 4 5 6 7 8 9 Stories 1 - 10 of 88 Previous Next
