Update 1: Philippines Able to Service Its Debt
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The Philippines is able to service its debt, the government said Tuesday, as officials scrambled to reassure jittery investors a day after the president rattled the markets by saying the country was in the throes of a fiscal crisis.
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MANILA (Dow Jones)--Investors wary of inflation and the specter of higher interest rates sold down Philippine assets Tuesday, a day after President Gloria Macapagal Arroyo spooked markets by saying the country is in a &quot;fiscal crisis.
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ELECTION spending and increased usage of cellular phones allowed the Philippine economy to grow by 6.2 percent in the April-June quarter despite the government&#39;s fragile fiscal position, official data showed Monday.
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MANILA (Dow Jones)--Improved revenue collection and tighter controls on government spending kept the Philippines&#39; budget deficit well below the administration&#39;s ceiling in the 10 months to October, spurring confidence in the market about the government&#39;s
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Philippine President Gloria Macapagal-Arroyo Thursday expressed confidence in the country&#39;s economy outlook and called all sectors not to be off the track in the major economic reforms.
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MANILA When President Gloria Macapagal Arroyo declared this week that the Philippines was &quot;already in the midst of a fiscal crisis,&quot; many thought she was just stating the obvious.
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Socioeconomic Planning Secretary Romulo Neri on Tuesday said the Philippines is far from declaring default on its debts. &quot;We are not yet in that situation (bankruptcy),&quot; Neri told dzMM when asked if the Philippines
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KUALA LUMPUR, Malaysia - Thousands of Filipino workers in Malaysia can now remit money to their families back home under a new mobile phone money transfer service unveiled by Malaysia's top mobile phone operator Maxis.
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The Asian Development Bank (ADB) said on  Friday it had made available up to $325 million in emergency  lending for tsunami relief efforts in Indonesia, Sri Lanka and  Maldives. The Manila-based lending institution said about $175  million could be diverted from existing projects in the three  countries, while up to $150 million in new low-cost loans could  be drawn.
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Manila - The Philippines was in the midst of a fiscal crisis and the public should be prepared to make sacrifices, President Gloria Arroyo said yesterday.
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Philippines leader Gloria Arroyo aims to strengthen economic ties with China during a visit to Beijing.
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MANILA (Dow Jones)--The Philippine government has mandated three investment banks to underwrite a bond offer that will raise at least $750 million in the overseas capital market, Philippine Daily Inquirer reports, citing unnamed banking and government
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The government has pledged to provide greater debt relief for some of the world&#39;s poorest countries. It was announced on Sunday that the UK will write off its share of World Bank and African Development Bank
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The Philippine economy rose 6.3 percent year-on-year in the third quarter, higher than the market expectations, the government said Monday.
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International momentum was building in support of debt relief for tsunami-hit nations on Wednesday after Japan backed the idea despite Australian concerns a debt freeze might not benefit those most in need.
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LG Card Co.&#39;s creditors and former owners agreed to a less-than-planned 1 trillion won ($965 million) bailout of South Korea&#39;s second-largest credit card issuer, helping it escape bankruptcy for the second time in a year.
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The Philippine economy maintained its solid growth in the first nine months of the year as gross domestic product (GDP) expanded by 6.5 percent, well on track of the governmentâs full-year target.