MANILA, March 15, Reuters – A 288 million dollar syndicated loan for the Philippines Long Distance Telephone Co marks a major initiative by Manila’s commercial bank creditors to recycle existing debt, bankers said. BOT International (HK) Ltd, Citicorp International Ltd and the Hong Kong and Shanghai Banking Corp are lead managing the loan. Syndication started…
7 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 7 – The Philippine government will issue treasury bills and notes totalling 29.8 billion pesos in 1988 and depend mainly on domestic resources to finance its projected budget deficit of 27.1 billion pesos, Finance Undersecretary Victor Macalincag said. The government planned to float…
17 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 17, Reuter – Monday’s local elections are billed as President Corazon Aquino’s last step in returning the Philippines to democracy, but bloody campaigning has left many here wondering if there has been genuine change. Analysts polled by Reuters said the elections would bring…
19 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 19, Reuter – The Philippines has emerged from a tumultuous year with democracy apparently firmly in place after Monday’s local elections, but there is no euphoria among analysts over the country’s economic prospects. The economy has turned in its best growth in seven…
20 January 1988 The Globe and Mail B24 English All material copyright Thomson Canada Limited or its licensors. All rights reserved. The Philippines has experienced its best growth in seven years, but it still faces a daunting array of problems. Analysts say President Corazon Aquino must now demonstrate that she can manage the economy. …
22 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 22, Reuter – The United States is committed to helping the Philippines achieve economic recovery by stepping up investments, keeping its doors open to imports, and maintaining the flow of aid, Ambassador Nicholas Platt said on Friday. He told a meeting of American…
22 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 22 – Sugar industry officials said the Philippines might not be able to sell extra sugar to the U.S. because the U.S. Agriculture Department (USDA) was delaying the issue of guidelines for a re-export plan approved by the U.S. Congress. Sugar Regulatory Administration…
25 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 25 – Developing nations are more likely to attract foreign investment by easing curbs on share ownership and employment of expatriates than through incentives such as tax holidays, said William Ryrie of the International Finance Corp, a soft-loan arm of the World Bank. …
27 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 27 – The yen’s rapid appreciation has led many Japanese companies to step up investments in the Asia-Pacific region, but the expansion has been tempered by a variety of obstacles in host countries and Japanese fears of an unchecked outflow of capital, a…
1 February 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Feb 1, Reuter – The Philippines is exploring ways of reducing its massive foreign debt burden and the two U.S. military bases in the country could be a possible bargaining lever, Finance Secretary Vicente Jayme said on Monday. Jayme told Reuters in an interview…
19 February 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Feb 19 – The Philippines’ 27.8 billion dollar foreign debt makes it a bit player in attempts to find solutions to the debt crisis and Manila prefers to let large debtors take the initiative, Central Bank Governor Jose Fernandez said. “I think anybody who…
8 March 1988 Reuters News English (c) 1988 Reuters Limited MANILA, March 8, Reuter – The Philippines will have a 1989 deficit of 28.5 billion pesos on a projected budget of 190 billion, Budget Secretary Guillermo Carague said. He told Reuters this compares with a projected deficit of 27.1 billion pesos for the 1988 budget…
9 March 1988 Reuters News English (c) 1988 Reuters Limited MANILA, March 9, Reuter – Fewer staff members taking fewer siestas may help the Philippines boost South-East Asia’s poorest tax-collection effort, Bureau of Internal Revenue Commissioner Bienvenido Tan said on Wednesday. Tan told Reuters the country’s tax revenues as a ratio of gross national product…
18 March 1988 Reuters News English (c) 1988 Reuters Limited MANILA, March 18, Reuter – Volatile penny oil stocks have raised trading on Manila’s two exchanges to fever pitch this year, and analysts said the trend seemed likely to continue. “Rumours are the heart and soul of the (oils) market. It’s a casino,” Noel De…
25 March 1988 Reuters News English (c) 1988 Reuters Limited MANILA, March 25, Reuter – Philippine banks have largely recovered from years of crisis, but high intermediation costs still constrain lending, bankers and analysts say. The industry’s total assets grew to 259.9 billion pesos at end-1987 from 236.4 billion a year earlier, according to a…
4 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 4, Reuter – The Philippines’ gross national product (GNP) is expected to expand by 6.1 pct in 1988 after 5.1 pct growth in 1987, the Central Bank said in its annual report. Key sectors such as manufacturing, agriculture, mining, construction and services are…
18 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 18, Reuter – Filipino and foreign businessmen have launched a sharp attack on the Philippines’ 20-month-old debt/equity swap program, charging it is too restrictive and arbitrary and actually deters investors. “Disillusioned investors are the worst possible advertisement for the Philippines,” said a statement…
20 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 20, Reuter – Japan’s attempt to use the Asian Development Bank (ADB) to recycle part of its 30 billion dollar private-sector surplus is not meeting with much success, banking officials and diplomats said. Japan, with 15 pct of the 47-member ADB’s 22.8…
26 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 26, Reuter – The Philippines has received pledges of aid totalling 66 million dollars from the United States, the Netherlands and Italy to support its ambitious land reform program, Agrarian Reform Secretary Philip Juico told Reuters. The broad outline of the program was…
27 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 27, Reuter – The Asian Development Bank (ADB) has found it difficult to identify suitable projects to assist in China because of Peking’s centrally planned economy, bank president Masao Fujioka told Reuters in an interview. China became the 47-member bank’s newest member in…
27 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 27, Reuter – Taipei has ended a two-year boycott of the Asian Development Bank (ADB) but its dispute over a name-change by the bank continues, Central Bank Governor Chang Chi-Cheng said on Wednesday. The boycott was triggered in 1986 when China was admitted…
28 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 28, Reuter – The Asian Development Bank’s annual meeting opened with a call from Philippine President Corazon Aquino to keep the bank’s leadership Asian and to temper its policy prescriptions. “(The bank) must continue to view banking, especially development banking, as a relationship…
29 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 29, Reuter – The Soviet Union’s interest in joining the Asian Development Bank (ADB) is part of Moscow’s move to restructure its economy, a senior official said. “The ADB’s major field of cooperation with its members bears a relation to Soviet efforts to…
29 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 29, Reuter – Taiwan delegates to the Asian Development Bank’s annual meeting continued to cover their badges saying “Taipei, China” on Friday, defying the Bank’s efforts to change the island’s name in deference to China. Such protests by the Taiwanese, who have also…
30 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 30, Reuter – Afghanistan appealed on Saturday for the Asian Development Bank to help resettle refugees and repair its war- damaged economy. Afghan Finance Minister Mohamad Kabir urged the Manila-based bank to resume lending to Kabul, suspended after Soviet troops moved into Afghanistan…
9 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 9, Reuter – Thirsty Filipinos drank nearly a billion liters of San Miguel beer in 1987, boosting the food and beverage conglomerate’s profits to record levels and raising the stakes in long-running boardroom wrangles. San Miguel Corporation Executive Vice President Ramon del Rosario…
20 April 1994 Reuters News English (c) 1994 Reuters Limited TOKYO, April 20 (Reuter) – “Blossoms in the air; unable to stay longer; and still escape time.” The haiku, or Japanese three-line verse, by the well-known poet Seishi Yamaguchi might have been written just for Japanese Prime Minister Morihiro Hosokawa as he strolled under the…
17 May 1988 Reuters News (c) 1988 Reuters Limited MANILA, May 17, Reuter – Former Defence Minister Juan Ponce Enrile said on Tuesday that the Philippine military had a file of evidence on ambushes by communist rebels “financed by foreign journalists in exchange for media coverage”. Enrile, defence chief for 17 years until 1986 and…
13 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 13, Reuter – The U.S. bases in the Philippines have sparked a superpower slanging match and stirred passionate debate about self-respect, alms-giving, sovereignty and subservience. Since April 5 when Manila-Washington talks on the future of the bases began, Philippine talk shows and newspaper…
17 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 17, Reuter – The Philippines needs a U.S.-sponsored multi-billion dollar aid plan immediately if it is to grow economically and reduce its heavy debt repayments, Economic Planning Secretary Solita Monsod said. The Washington Post said last week the U.S. will try to put…
18 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 18, Reuter – The Philippine economy is growing strongly in real terms but is in danger of overheating, Central Bank Governor Jose Fernandez said. “The growth is real,” he told Reuters in an interview. “The reason I talk about overheating is when you…
24 May 1988 Reuters News English (c) 1988 Reuters Limited LOS BANOS, Philippines, May 24, Reuter – Asia’s rice producers, reeling from the effects of the worst drought in decades, are grappling with depleted stockpiles and soaring world prices for the continent’s staple food. Experts at the International Rice Research Institute (IRRI) here said on…
25 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 25, Reuter – The Philippine economy is growing strongly well into the third year of President Corazon Aquino’s rule but growth is accompanied by painful adjustments to make up for years of depression, analysts say. Under Aquino more than 100 state-owned firms have…
27 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 27, Reuter – Philippine Airlines Inc’s loss in the 1987/88 fiscal year may delay government plans to privatise the state-owned carrier, industry analysts say. PAL posted a net loss of 67.98 million pesos in the year ended March 31, a sharp decline from…
31 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 31, Reuter – There are no magical solutions to the Philippines’ heavy foreign debt burden, Finance Secretary Vicente Jayme told a businessmen’s meeting. Earlier this month the Philippine Senate issued a flurry of tough proposals on the country’s $28.7 billion dollar foreign debt…
5 June 1988 Reuters News English (c) 1988 Reuters Limited MANILA, June 5, Reuter – To pay or not — that is the question facing the Philippines, only Asian nation on the World Bank’s list of 17 highly indebted, middle-income countries. The Philippines, with a foreign debt of 28.7 billion dollars, has received no new…
6 June 1988 The Toronto Star FIN B4 English Copyright (c) 1988 The Toronto Star MANILA, Philippines – “No one’s talking new money, so we must reduce external outflows,” Economic Planning Secretary (Minister) Solita Monsod said in a newspaper interview. “Confrontation is a state of mind. We’re not saying that we won’t pay, just that…
19 July 1988 Reuters News English (c) 1988 Reuters Limited MANILA, July 19, Reuter – Philippine officials said on Tuesday that It was up to President Corazon Aquino to interpret an anti-nuclear constitutional clause that could affect the future of the two main U.S. bases in the country. A joint executive-legislative panel set up by…
28 July 1988 Reuters News English (c) 1988 Reuters Limited MANILA, July 28, Reuter – Philippine President Corazon Aquino, secure in power near the end of a coup-free year, is trying to get tough with her problems. “The president feels she has to use some form of brass knuckles now where she was all sweetness…
3 August 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Aug 3, Reuter – The Philippines has told its commercial bank creditors they must help bridge a 1.8 billion dollar financing gap in 1989, a senior official close to talks held in New York last month told Reuters. The official said Philippine officials had…
17 September 1991 Reuters News English (c) 1991 Reuters Limited TOKYO, Reuter – Most Asian stock markets, casting around for fresh stimulus, weakened on Tuesday while the dollar declined in late regional trade against the mark. But Tokyo stocks, buoyed by hopes of easier credit, bucked the declining trend with the 225-share Nikkei average up…
29 August 1992 Los Angeles Daily News Valley The Japanese government Friday approved an $87 billion spending package – the nation’s largest since World War II – in a bid to jolt the dormant economy back to life. During a late-evening meeting, government ministers rubber-stamped the growth-boosting package totaling 10.7 trillion yen. The massive package was in line…
28 December 1992 Reuters News English (c) 1992 Reuters Limited TOKYO, Dec 28, Reuter – Satellite and cable television is approaching rice status as a staple in the Asian diet but some governments feel threatened by the foreign encroachment. Viewers across Asia are tuning in to a cornucopia of information and entertainment. Millions of Asians…
28 December 1992 Reuters News English (c) 1992 Reuters Limited TOKYO, Dec 28, Reuter – Satellite and cable television is approaching the status of rice as staple in the Asian diet but some governments feel threatened by foreign encroachment on their airwaves. Viewers across Asia are tuning in to a cornucopia of information and entertainment. …
29 December 1992 The Globe and Mail All material copyright Thomson Canada Limited or its licensors. All rights reserved. Tokyo SATELLITE and cable television is approaching the status of rice as staple in the Asian diet but some governments feel threatened by foreign encroachment on their airwaves. Viewers across Asia are tuning in to a cornucopia…
4 January 1993 Straits Times English (c) 1993 Singapore Press Holdings Limited Some govts feel threatened by foreign encroachment on airwaves TOKYO – Satellite and cable television is approaching the status of rice as a staple in the Asian diet but some governments feel threatened by foreign encroachment on their airwaves. Viewers across Asia are…
1 February 1993 Reuters News English (c) 1993 Reuters Limited TOKYO, Feb 1, Reuter – Currency speculators who sparked a fresh crisis in the European monetary system over the weekend brought their heavy guns to bear on Britain’s currency on Monday, ramming the pound to new lows in Tokyo trading. Asian stock markets were mixed. …
20 August 1993 Reuters News English (c) 1993 Reuters Limited TOKYO, Aug 20 (Reuter) – The Japanese government heaved a sigh of relief on Friday after action by the United States yanked the yen back from a close brush with parity with the U.S. cent. But currency traders served notice that the rampant yen was…
19 March 2002 Reuters News English (c) 2002 Reuters Limited BANGKOK, March 19 (Reuters) – The head of Thailand’s stock exchange, one of the best performers in Asia so far this year, said on Tuesday he expected market capitalisation to rise 50 percent thanks to new issues and higher share prices. Stock Exchange of Thailand…
20 March 2002 Reuters News English (c) 2002 Reuters Limited BANGKOK, March 20 (Reuters) – Thailand will see growth of at least three percent this year and more if the U.S. economy picks up faster than expected, Thai Finance Minister Somkid Jatusripitak forecast on Wednesday. Somkid told Reuters in an interview the government of Prime…
14 September 1993 Reuters News English (c) 1993 Reuters Limited TOKYO, Sept 14 (Reuter) – Japan’s sickly economy has been contracting as its stubborn trade surplus balloons, government figures showed on Tuesday. Gross national product (GNP) shrank 0.5 percent in the April/June quarter from the previous quarter after adjustment for inflation, the government’s Economic Planning…
13 December 1993 Reuters News English (c) 1993 Reuters Limited TOKYO, Dec 13 (Reuter) – Japan’s Chief Cabinet Secretary Masayoshi Takemura said Tokyo had every intention of making a decision on opening the country’s rice market by late Monday. Leaders of the eight-group ruling coalition were to meet during the evening to decide whether to accept…
15 April 1994 Reuters News English (c) 1994 Reuters Limited TOKYO, April 15 (Reuter) – A leading opposition politician is preparing to revolt against his party in hopes of becoming Japan’s next prime minister, NHK public television said on Friday. Meanwhile, the fate of the nation’s ruling coalition, riven by a struggle for power, hung…
27 May 2003 Reuters News English (c) 2003 Reuters Limited SEOUL, May 27 (Reuters) – South Korea is encouraged by North Korea’s softer stance on talks about its nuclear ambitions and there are signs Pyongyang may be prepared to reach a deal, Seoul’s top foreign policy adviser told Reuters on Tuesday. Ban Ki-moon, who…
21 September 1994 Reuters News English (c) 1994 Reuters Limited TOKYO, Sept 21 (Reuters) – India’s new telecommunications policy will open the domestic market to foreign firms, end a century-old state monopoly and aim to provide 60 telephones for every 1,000 people by 2000, a minister said on Wednesday. India now has 9.64 telephones per…
12 September 2003 Reuters News English (c) 2003 Reuters Limited BEIJING, Sept 12 (Reuters) – China has not ruled out another big bailout of its ailing state-run banking sector but sees signs the banks have turned a corner and are on track to meet foreign competition, the country’s new banking regulator said on Friday.…
12 September 2003 Reuters News English (c) 2003 Reuters Limited BEIJING, Sept 12 (Reuters) – China’s new banking regulator said on Friday foreign banks should begin making up lost ground and challenge local peers within months, dismissing concerns they are losing market share in a potentially highly lucrative market. Foreign banks now command a…
15 September 2003 Reuters News English (c) 2003 Reuters Limited TAIPEI, Sept 15 (Reuters) – Taiwan will permit its banks to do business in China next year if mainland regulators grant the island some supervisory authority and allow banks to accept local currency deposits, Taiwan’s top policymaker on China said on Monday. A week after…
15 September 2003 Reuters News English (c) 2003 Reuters Limited TAIPEI, Sept 15 (Reuters) – China is to blame for growing frustrations in Taiwan that have bubbled over into popular demands for the island to change its official name, a senior policymaker said on Monday. The official made clear the government had sympathy with a…
15 September 2003 Reuters News English (c) 2003 Reuters Limited TAIPEI, Sept 15 (Reuters) – Taiwan still holds the upper hand against China in trade competition but will open direct links with the mainland only in stages because of security and economic risks, the island’s top policymaker on China said on Monday. Tsai Ing-wen, chairwoman…
16 September 2003 Reuters News English (c) 2003 Reuters Limited TAIPEI, Sept 16 (Reuters) – Douglas Paal, Washington’s unofficial ambassador to Taipei, must choose his words carefully as he navigates the treacherous shoals of politics across the Taiwan Strait. Yet on the subject of SARS his language is unusually blunt. Faced with a medical…
17 October 2003 Reuters News English (c) 2003 Reuters Limited SEOUL, Oct 17 (Reuters) – South Korean President Roh Moo-hyun dismissed North Korea’s threat to prove it has a nuclear deterrent as pre-talks bluster on Friday and said Pyongyang was really after regime survival and aid rather than atomic weapons. In an interview at the…
9 January 2005 Reuters News English (c) 2005 Reuters Limited COLOMBO, Jan 9 (Reuters) – The only problem Sri Lanka’s intrepid garment makers faced after a giant tsunami hit two weeks ago was a slight rise in absenteeism at some of the hundreds of garment factories dotting the Indian Ocean island. “In one zone in…
24 November 1997 Reuters News English (c) 1997 Reuters Limited NEW DELHI, Nov 24 (Reuters) – The collapse of Yamaichi Securities could signal the end of the worst of Japan’s “post-bubble” economic adjustment, Asian Development Bank (ADB) President Mitsuo Sato said on Monday. “I think we need to go through that kind of challenge in…
27 November 1997 Reuters News English (c) 1997 Reuters Limited NEW DELHI, Nov 27 (Reuters) – “May you be the mother of a hundred sons.” That benediction has been called down upon generations of Hindu brides in India, but the country’s junior health minister Renuka Chowdhury has a new mantra: “One is fun.” Some demographers…
8 January 2005 Reuters News English (c) 2005 Reuters Limited SAMMANTHURAI, Sri Lanka, Jan 8 (Reuters) – Sitting cross-legged on the cramped, bucking floor of a Black Hawk helicopter as it roars above central Sri Lanka’s pristine jungle and muddy rivers, aid has never seemed as complicated. A second U.S. Air Force Black Hawk…
7 January 2005 Reuters News English (c) 2005 Reuters Limited COLOMBO, Jan 7 (Reuters) – More than 30,000 Sri Lankans lost their lives when the tsunami hit their island the day after Christmas, but perversely the economy looks like it will gain from the destruction, analysts said on Friday. The Sri Lankan rupee has been…
5 January 2005 Reuters News English (c) 2005 Reuters Limited TANGALLA, Sri Lanka, Jan 5 (Reuters) – From a few hundred feet up, with the breakers curling lazily on mile after mile of yellow sand beneath blue skies, it is easy to see why this teardrop-shaped island was once called Serendip. But there was…
3 January 2005 Reuters News English (c) 2005 Reuters Limited COLOMBO, Jan 3 (Reuters) – Sri Lanka’s tsunami devastation has drawn a huge international aid response, but a geopolitical game of influence between India and the United States is playing not too subtly in the background, analysts said on Monday. “There is no innocence in…
21 June 2005 Reuters News English (c) 2005 Reuters Limited KUALA LUMPUR, June 21 (Reuters) – Malaysia declared victory on Tuesday in its internal campaign against Southeast Asia’s most feared Islamic militant group, but said there was room for improved U.S. cooperation in the global war on terror. “We have dismantled the JI basic structure,”…
21 June 2005 Reuters News English (c) 2005 Reuters Limited KUALA LUMPUR, June 21 (Reuters) – Malaysia proposed on Tuesday that foreign surveillance planes help to fight piracy in the Strait of Malacca, one of the world’s busiest sea lanes, in its clearest invitation for International assistance. Malaysia, along with neighbour Indonesia, has been cool…
English with an American accent, there were jokes about being the “51st US state”, the US military had a huge presence, and the economy was heavily indebted to a consortium of mostly-American banks. Fifteen years later I was listening to a JP Morgan executive in an office in Makati, the business district in Manila, tell…
REUTERS 8 September 1985 The Seattle Times THIMPHU, Bhutan_ “Do not give pens, sweets or medicine to villagers,” warns a Bhutanese government guidebook for tourists and mountaineers. For a country described in official brochures as ‘ ‘perhaps the last of the Shangrilas,” Bhutan is not in a hurry to modernize its tourist image. Called ”Druk…
Reuter News Agency 9 March 1986 The Toronto Star SRINAGAR, INDIA — “The large-scale arson, pillage, plunder and desecration of our temples in last month’s attacks was aimed at creating conditions for the mass exodus of Hindus,” says Hindu Action Committee leader Bal Krishna Handoo. “If we quit Kashmir we will be handing it on…
Reuter 19 January 1987 Sydney Morning Herald MANILA, Sunday: President Corazon Aquino flew to the violence-racked island of Mindanao today, apparently unruffled by a night of tension triggered by warnings that a fanatical military group was plotting a new attempt to topple her Government. In Manila, soldiers, backed by water cannon and armoured cars sealed…
REUTERS 16 April 1987 The Seattle times MANILA _ Weeks of fierce fighting between government troops and communist insurgents have highlighted a deep rift between radical left-wing priests and conservatives in the Philippines’ powerful Roman Catholic church. Amid some of the worst violence in the 18-year revolt, high Church leaders have moved to sever the…
21 May 1987 The San Francisco Chronicle Manila President Corazon Aquino’s ambitious plan to distribute land to more than half the country’s peasants is in danger of falling victim to the Philippines’ return to full legislative democracy. Pressure has been mounting on Aquino to use her sweeping legislative powers and sign the Accelerated Land Reform…
1 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 1- The head of Philippine National Oil Co said the proposed privatisation of Petron Corp, a fully owned subsidiary, would rob the government of a valuable and profit-making asset and suggested reconsideration of what he termed a strategically unwise move. “Petron is PNOC’s…
1 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 1 – Philippine Coconut Authority (PCA) chairman Jose Romero said he would visit Brussels later this month to lobby against a proposed 100 pct European Community (EC) levy on vegetable oil imports. “I intend to visit Brussels and talk to whoever is…
2 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 2, Reuter – The Philippine economy’s impressive growth in this year’s first quarter suggests the government’s ambitious economic targets are within reach, Central Bank Governor Jose Fernandez said today. “I don’t see anything on the horizon that should cut (growth) short,” Fernandez said…
3 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 3, Reuter – The latest draft of the Philippines’ ambitious land reform program delays final land distribution until 1997, details options for compensating landowners, and holds out imprisonment for violators. Teodoro Benigno, spokesman for President Corazon Aquino, told reporters a cabinet meeting today…
3 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 3, Reuter – Japan will expand its assistance to the Philippines and encourage Manila to increase its exports, the head of a Japanese economic mission said today. Former foreign minister Saburo Okita told a news conference the aid would be in line with…
8 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 5 – The Philippines’ interest payments on its foreign debt will increase by 157 million dollars this year if the London Interbank Offered Rate (LIBOR) climbs to an average of 7.5 pct, Central Bank Deputy Governor Edgardo Zialcita said. “Assuming that the uptrend…
8 July 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 8, Reuter – The closure last month of the Manila Banking Corporation, one of the Philippines‘ nine largest banks, highlights the weaknesses still plaguing the country’s financial institutions, bankers and analysts said today. Manila Bank was declared insolvent by the Central Bank of…
8 June 1987 The Toronto Star Copyright (c) 1987 The Toronto Star MANILA — The government is aiming at GNP growth of between 6 and 6.5 per cent for the whole of this year. The first-quarter figure was the best in three years. GNP grew a modest 1.5 per cent last year after contracting more…
10 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 10 – The Philippines’ Omnibus Investment Code was approved by the cabinet and a final draft will soon be prepared for decree by President Corazon Aquino, Trade and Industry Secretary Jose Concepcion said. “The cabinet approved the investment code in principle and within…
10 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 10 – Japan feels the political and economic situation in the Philippines has stabilised and will encourage its businessmen to invest here, a Japanese official said. “Now the appreciation of the yen has added a new element and it is logical for Japanese businessmen…
11 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 11 – Proposed land reforms that would limit all holdings in the Philippines to seven hectares are likely to scare away private entrepreneurs, said Deogracias Vistan, president of the state-owned Land Bank of the Philippines. The government should carefully study minimum land needs…
11 June 1987 Reuters News English (c) 1987 Reuters Limited MANILA, June 11 – Philippine Central Bank Governor Jose Fernandez said he welcomed a compromise reached by Finance Secretary Jaime Ongpin and the Philippines’ bank creditors over Manila’s demand for improved debt repayment terms. “If he (Ongpin) has come to an agreement I accept that…
17 July 1987 Reuters News English (c) 1987 Reuters Limited MANILA, July 17 – The Philippines” Sugar Regulatory Administration (SRA) has ordered all its reserve stocks and sugar earmarked for the world market to be diverted onto the domestic market in a bid to bring down rising domestic prices, SRA board member Bibiano Sabino told Reuters. Under…
20 July 1987 Reuters News English (c) 1987 Reuters Limited MANILA, July 20 – The speedy and cordial conclusion of a 13.2 billion dollar debt rescheduling package by Philippine officials and bank creditors apparently was intended to pre-empt the country’s new Congress which convenes on July 27, bankers and economists polled by Reuters said. Omar Cruz,…
21 July 1987 Reuters News English (c) 1987 Reuters Limited MANILA, July 21 – The Philippines’ foreign debt was 28.58 billion dollars at the end of March, up from 28.25 billion at the end of 1986 and 26.35 billion a year earlier, Central Bank Governor Jose Fernandez said. In a report to President Corazon Aquino on…
22 July 1987 Reuters News English (c) 1987 Reuters Limited MANILA, July 22, Reuter – Held out as a radical step that would end decades of war and poverty in the Philippine countryside, President Corazon Aquino’s land reform program was instead greeted by a chorus of criticism. Today‘s presidential order, the 229th since Aquino came…
23 July 1987 Reuters News English (c) 1987 Reuters Limited MANILA, July 23 – A row over the proposed privatisation of Petron Corp, a fully-owned subsidiary of the Philippine National Oil Co (PNOC), intensified as the Committee on Privatisation (COP) said overwhelming arguments favour the sale. PNOC’s board of directors last month opposed Petron’s sale,…
23 July 1987 Reuters News English (c) 1987 Reuters Limited MANILA, July 23, Reuter – Protests by both landowners and poor farmworkers mounted today over the Philippines’ land reform program, while the country’s new Congress threatened to review all decrees signed by President Corazon Aquino. Hours after Aquino signed the land reforms into law yesterday,…
27 July 1987 English (c) 1987 Reuters Limited MANILA, July 27, Reuter – President Corazon Aquino lashed out at the Philippines’ creditor banks today, charging they coerced her government into signing an unfavorable debt pact, and vowed to fight enemies of both the right and the left. In a State of the Nation speech, one…
30 July 1987 Reuters news (c) 1987 Reuters Limited MANILA, July 30 – Foreign debt has suddenly become a dirty phrase in Manila, but any repudiation of the Philippines’ debt could isolate the country financially, economic analysts said. Spurred by President Corazon Aquino’s scathing attack on creditors in her speech at the opening of Congress…
4 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 4, Reuter – The killing of a top official known for his strong anti-communist views has shocked the Philippines and revived a debate over armed vigilante groups. Local Governments Secretary Jaime Ferrer’s murder by three gunmen on Sunday was the latest in a series…
7 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 7, Reuter – The growing call in the Philippines for a repudiation of some of the country’s 28.4 Billion dollar foreign debt was strongly attacked today by the finance minister and the leader of an influential business group. Finance Secretary Jaime Ongpin told reporters…
7 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 7, Reuter – Extra bodyguards were assigned to top Philippine officials today after a congressional leader and the country’s election commission chief received death threats from Communist and Moslem guerrillas. Amid rising public outrage, police admitted they were no nearer solving the murders…