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What's New
- 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. - 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. - 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. - 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. - 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. - 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. - 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. - 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. - 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. - 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.
