9 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 9 – Any fall in commodity prices resulting from the crash in world stock markets could badly affect the Philippines, Central Bank governor Jose Fernandez said. “Probably far more important than exchange rates and interest rates are commodity prices,” he told reporters. ‘Because then…
11 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 11 – Near the end of her second year in office, Philippine President Corazon Aquino remains at the controls of an economy that continues to lumber down the runway but refuses to take off. Aquino said in a fighting speech last month…
19 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 19 – National Statistics Office (NSO) figures show the Philippines’ trade deficit stood at 674 million dollars in the January-September period, up from 168 million dollars in the same 1986 period, and wider than the 574 million dollar deficit reported by Central Bank Governor…
20 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 20 – The Philippines’ restructuring of 13.2 billion dollars of foreign debt has again been plunged into uncertainty following calls from a leading senator for the abrogation of a July agreement with the country’s creditor banks. Senator Alberto Romulo, Chairman of the Senate’s…
20 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 20 – The Philippines will borrow between 30,000 and 100,000 tonnes of raw sugar from Thailand to meet a sudden increase in demand after a shortfall caused by a severe drought, a government official said. Sugar Regulatory Administration (SRA) chairman Arsenio Yulo…
24 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 24 – The Philippines has moved to defend its foreign exchange reserves by curbing U.S. dollar trading between banks, easing bank deposit rules for overseas workers and cutting purchases of debt paper with foreign exchange. The new rules were announced as the peso…
24 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 24, Reuter – Private groups in Australia and West Europe are supplying Philippine communist guerrillas with aid, a military intelligence report said on Tuesday. The report said 14 private groups in Australia, Ireland, Switzerland, West Germany and Belgium were sending aid to the…
25 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 25 – The Philippines has been warned that the United States is planning to slash its 1988 sugar import quota but is not very worried, Sugar Regulatory Administration (SRA) chairman Arsenio Yulo told Reuters in an interview. “The signal given to us is…
25 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 25, Reuter – The communist rebel killings of three Americans near a U.S. military base in the Philippines last month will strengthen ties between the two countries and speed up aid from Washington, a U.S. official said on Wednesday. “These killings will have…
27 November 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Nov 27, Reuter – Rescue workers battled through floods in the central Philippines on Friday after Typhoon Nina killed at least 361 people, 275 of them in a coastal town smashed by giant tidal waves. President Corazon Aquino declared 11 provinces in the south…
1 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 1 – Short-term interest rates have shot up in the Philippines as the peso has come under increasing pressure and the central bank has been forced to intervene heavily to defend the local currency, bankers said. Bankers’ Association of the Philippines (BAP) figures show…
7 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 7, Reuter – Former Philippine finance minister Jaime Ongpin was found with a bullet wound in the head in his Manila office on Monday in what his son and police said looked like suicide. Police investigator Romeo Urbana said a guard at the…
11 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 11 – The Philippine government intends to boost tax collection, reorder its expenditures, and rationalise state-owned corporations to remedy Its dismal fiscal situation, Finance Secretary Vicente Jayme said He told a meeting of the Philippine Economic Society that the country’s tax revenues as…
13 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 13 – South-east Asian leaders gather in Manila this week to try to refurbish an organisation that has rarely moved from rhetoric to reality on its main goal of economic cooperation, analysts said. The threat of a recession in the United States, a…
14 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 14, Reuter – Spurred by shrinking markets and the spectre of global recession, the leaders of South-East Asia were poised on Monday to end two decades of sluggish economic growth with a ringing resolve to boost collective action. In a draft communique dominated…
14 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 14 – The Association of South East Asian Nations (ASEAN) criticised rising protectionism, called for new commodity agreements and urged creditors to ease the burden of foreign debt in a draft communique to be signed by leaders of the regional bloc. ASEAN officials…
14 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 14, Reuter – South-East Asia’s non-communist countries must gird to meet challenges posed by uncertain political and economic conditions, Malaysian Prime Minister Datuk Seri Mahathir Mohamad said on Monday. He told the opening meeting of the third Association of South East Asian Nations…
15 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 15 – Japan’s trade and overseas investment with South-East Asia, which accounts for nearly a third of Japanese bilateral aid, has been steadily declining, figures from the Japanese Foreign Ministry show. Japanese Prime Minister Noboru Takeshita announced a two billion dollar ASEAN-Japan Development…
15 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 15 – Japanese Prime Minister Noboru Takeshita marked his first foreign trip by vowing to improve access to Japan for imports from South-East Asia and by formally announcing a two billion dollar package aimed at boosting the private sector and economic cooperation in…
15 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 15, Reuter-South-East Asia’s leaders cemented their alliance on Tuesday, ending a summit meeting with a declaration short on political contention and long on the urgency of forging economic unity. Political analysts said the smooth passage of the two-day Manila summit of the Association of…
16 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 16 – A 23 pct cut in the 1988 U.S. sugar import quota for the Philippines is deeper than expected, but Manila is banking on a U.S. proposal to import extra sugar under a re-export plan, Sugar Regulatory Administration (SRA) Chairman Arsenio Yulo told…
16 December 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Dec 16 – Japanese Prime Minister Noboru Takeshita promised President Corazon Aquino he would speed up assistance to the Philippines and soften terms for bilateral aid, a Japanese government spokesman told reporters. Takeshita and Aquino signed an agreement on an 80.2 billion yen loan…