Financial Crisis: The Philippine Version

[pup2]

there is a source of fund, i just cant remember exactly what was the exact name or finance group that will fund the project as I was paying attention more on the mirror's article title, open skies policy in Asian region.

i dont know how far we and our asian neighbors will go regarding open skies, if we will do a schengen countries euro type of thingy

but clark being chosen as the central hub for our most expensive airport is really a good strategic move for all concerned, our country and the countries clamoring for open skies. why bec. it's in central luzon. it's in the center of everything. in 3-5 years from now, it will be in the center of then the entire northern luzon expressway network going as far as Ilocos to the north and Manila to the south and Subic/Bataan/Zambales to the west and I dont know about the eastern luzon part yet

hehehe. Sierra Madre na po yata yun. Madaming provinces tinatamaan but very narrow and mountainous.

[4wrider]

hehehe. Sierra Madre na po yata yun. Madaming provinces tinatamaan but very narrow and mountainous.

Actually, mga 80 kilometers lang yung planong pacific gateway from Manila. Isa sana yan sa mga uunahing projects ni Sen. Angara kung naging Presidente sya.

Now that the global wealthy have been burned with paper money I think, infrastructures as investment might be something they will be checking more intently.

If only the Philippine constitution could be changed so that foreigners can own land, much more funds might come in.

[jpdm]

If only the Philippine constitution could be changed so that foreigners can own land, much more funds might come in.

No need.

Besides we are not sure if foreigners will be allowed to own lands here funds will come in...

Style nga foreigners they borrow money from local banks di wala rin..

[4wrider]

No need.

Besides we are not sure if foreigners will be allowed to own lands here funds will come in...

Style nga foreigners they borrow money from local banks di wala rin..

There's a strong chance they will since land ownership provides better protection for their investments and therefore greater incentive to do so.

As to borrowing local money to fund their investment there should be rules to minimize this like those against thin capitalization, proof of inward remittance etc.

Of course, kung tingin naman nila di sila kikita dito wala rin.

[jpdm]

Almost [SIZE=3]US $ 7 billion dollars trade deficits in 9 months[/SIZE]for the country.

Whew! This is a terrible news for a foreign exchange starve Philippines..

Our stupid government has not done anything about this bleeding....

With this development...Im sure let us kiss economic growth in 2008-2009 goodbye

The National Statistics Office (NSO) reported that merchandise imports rose by 2.5 percent to $4.864 billion in September from $4.744 billion in the same period last year.
The September performance led imports in the first nine months of the year to grow 12.4 percent to $45.286 billion from $40.278 billion during the same period last year. The country’s balance of trade in goods recorded a deficit of $425 million from last year’s $354 million.
The nine-month trade deficit surged 134 percent to $6.419 billion from $2.92 billion in the same period last year.

[uls]

losing momentum

By The Associated Press | 26 Nov 2008 | 11:30 PM ET

MANILA, Philippines - The Philippine economy grew a sluggish 4.6 percent in the third quarter, slumping from 7.1 percent last year, after being "damaged but not quite ravaged" by the global financial crisis, the government said Thursday.

Industry grew at a faster rate of 7.1 percent from 6.6 percent a year earlier, but the services sector — the linchpin of the economy with a 49.2 percent share of gross domestic product — contracted 3.7 percent.

"The Philippine economy has been damaged but not quite ravaged by the global financial turmoil and high oil prices," the National Statistical Coordination Board said in a statement.

[tidus1203]

Good enough given the situation. We have to be thankful in some sense our economy is backwater so we didn't really got caught big time by the complexities of the financial problem in the developed nations.

[tidus1203]

Cebu bank declares "HOLIDAY" hahahahaha

MANILA, Philippines -- A local bank has declared a “bank holiday,” surprising its depositors, according to a radio report.
Radio dzMM said the Philippine Countryside Rural Bank in Cebu made the announcement after the Supreme Court ruled last week that the financial institution had an “undercapitalization.”
The report added that the bank was also experiencing a “power struggle” but did not elaborate.
No other details are available as of posting time.

http://business.inquirer.net/money/b...oliday--report

[uls]

haha

Philippine Countryside Rural Bank?

with a name like that, ilalagay mo ba pera mo jan?

hehe

[tidus1203]

Pero nakakatawa they declared their own holiday which I am assuming is to prevent a bank run. Pwede na pala mag declare ng holiday ang bank kala ko si GMA lang pwede Comedy talaga! hahahaha