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…
6 January 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Jan 6 – The options available in solving the global debt crisis had broadened dramatically with U.S. government backing of a Mexican plan to retire a large part of its foreign debt, Philippine Finance Secretary Vicente Jayme said. “I feel that the Mexican package…
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…
8 February 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Feb 8 – U.S. Agriculture Secretary Richard Lyng is in a quandary over a sugar re-export plan passed by the U.S. Congress doubling the Philippines’ sugar exports to the United States this year, a senior U.S. official said. Philippine officials said at the weekend…
10 February 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Feb 10, Reuter – A sword poised over a Gordian knot is the official symbol of the Philippine body charged with selling about 6.8 billion dollars in bad debts accumulated by the country’s two major government banks. “That’s an appropriate symbol for the work…
16 February 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Feb 16 – A stream of unsettling news from the Philippines has held back many potential small and medium-sized European investors, European Chamber of Commerce secretary-general Christian Roehr told Reuters. Roehr said several large European multi-nationals had long been in the Philippines and “are…
16 February 1988 Reuters News English (c) 1988 Reuters Limited MANILA, Feb 16, Reuter – West German Minister of Economics Martin Bangemann is expected to explore ways of expanding trade and investment ties with the Philippines in talks here this week, a West German diplomat said on Tuesday. Hans-Wilhelm Verbeek, First Secretary in the West…
19 February 1988 Reuters News (c) 1988 Reuters Limited English MANILA, Feb 19 – The Philippines plans to speed up its sluggish debt/equity swap program, Central Bank Governor Jose Fernandez said. “Our policy is to get rid of the large backlog,” he told a news conference. “We think the people who have applied deserve to…
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…
22 March 1988 Reuters News English (c) 1988 Reuters Limited MANILA, March 22, Reuter – Falling sugar and coconut production is expected to lead to little or no overall growth in Philippine agriculture in 1988, the U.S. Department of Agriculture said in its annual report on the Philippines. It forecast overall growth of 0.5 pct…
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…
3 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 3, Reuter – Coup leader Colonel Gregorio Honasan’s escape from captivity on Saturday has dramatically revived threats to Philippine President Corazon Aquino’s power, analysts said. “Honasan’s escape couldn’t have occurred at a less convenient moment for Aquino,” an Asian diplomat said. Aquino is…
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 – China is negotiating with the Manila-based Asian Development Bank for six loans this year, a Chinese official said on Monday. Li Dongqun, alternate executive director on the ADB board, told Reuters in an interview that Peking wanted to move slowly…
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…
20 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 20, Reuter – The Asian Development Bank (ADB) is still awash with funds, with liquid assets of 4.5 billion dollars, 74.2 pct of its undisbursed loan balances, at the end of 1987, Treasurer Alan Gill said in an interview. This compares with liquid…
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…
27 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 27, Reuter – The Asian Development Bank annual meeting starting on Thursday is likely to be dominated by a power-struggle between Japan and the United States, officials said on Wednesday. ADB officials said the three-day meeting would also be marked by the presence…
28 April 1988 Reuters News English (c) 1988 Reuters Limited MANILA, April 28, Reuter – South Pacific island nations want to form a new regional development bank to increase their access to financial resources, a Western Samoan official said on Thursday. The idea was put to the management of the Asian Development Bank on the…
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 – The Asian Development Bank’s lending policies came under fire at its annual meeting and there were calls for a re-examination of its role. Indonesian Finance Minister J.B. Sumarlin said he was concerned that although loan approvals rose to a record…
9 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 9, Reuter – The Philippine government said on Monday it was awaiting information about a reported U.S. move to unveil a Marshall Plan-like aid package for this cash-strapped country. The Washington Post reported on Sunday the multinational plan involved aid of up to…
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…
11 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 11, Reuter – The Philippine Senate has ended a six-month lull by taking some tough steps on the country’s debt. It has proposed limiting debt service limit and suspending payments on a 1.2 billion dollar nuclear plant loan. The Senate also unanimously passed…
12 May 1988 Reuters News English (c) 1988 Reuters Limited MANILA, May 12, Reuter – The Philippine Senate is apparently softening its stand on a tough anti-nuclear bill, with some legislators saying on Thursday, they back amendments that would tone down the measure. The “Freedom from Nuclear Weapons Bill” aims to ban port calls by…
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 – Philippine banks are missing opportunities by restricting foreign exchange trading to U.S. dollars and not dealing in stronger currencies like the yen, Central Bank Governor Jose Fernandez said. He told Reuters in an interview that technically, commercial banks could buy or…
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…
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…
26 July 1988 Reuters News English (c) 1988 Reuters Limited MANILA, July 26, Reuter – The Philippines welcomes a decision by the U.S. Department of Agriculture (USDA) to increase its 1988 sugar import quota to 158,640 short tons from 110,600 tons, Agriculture Secretary Carlos Dominguez said. “We welcome the opportunity … and we will try…
28 July 1988 Reuters News English (c) 1988 Reuters Limited MANILA, July 28, Reuter – The Philippines plans to approach its creditor banks for a new-money loan package and the International Monetary Fund (IMF) for a new funding program this autumn, central bank governor Jose Fernandez said on Thursday. He told a news conference that…
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…
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…
19 January 1987 The Toronto star MANILA, PHILIPPINES — He told a press conference Manila would not resume talks on restructuring $3.6 billion of its $28.6 billion debt until a “better than Mexico” offer was made. Bankers consider the Mexican deal the most lenient a major debtor nation has received from creditor banks. Ongpin said…
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…
29 July 1987 English (c) 1987 Reuters Limited MANILA, July 29, Reuter – U.S. military bases in the Philippines are vital to the security of both countries but America would respect any decision by Manila to remove them, a senior U.S. diplomat said today. “The bases are of vital importance,” U.S. Charge’ d’Affaires Philip Kaplan…
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…
12 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 12, Reuter – About 500 families were evacuated today from the central Philippine city of Legaspi as Typhoon Betty, threatening to be the strongest to hit the country since 1964, approached with wind speeds of up to 220 km (140 miles) an hour. …
13 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 13, Reuter – President Corazon Aquino was not kept fully Informed throughout a prolonged dispute between the Philippines and a consortium of Western banks, Finance Secretary Jaime Ongpin told Reuters in an interview today. The dispute Involved a commercial debt incurred by a private fertiliser…
13 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 13, Reuter – Typhoon Betty slammed into the central Philippines today, killing a boy, blowing down power lines and damaging crops, but the weather office said the storm was veering away from Manila. A spokesman for the Philippine Red Cross said a six-year-old boy…
18 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 18 – Foreign companies will be allowed to list their stock on the two stock exchanges In Manila in a move expected to attract foreign investors, Securities and Exchange (SEC) Commissioner Monico Jacob told Reuters. Jacob said the decision followed an Inquiry by…
20 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 20 – Last week’s 20 pct rise in the prices of petrol, diesel and fuel oil in the Philippines is likely to cause a small increase in inflation, analysts told Reuters. Omar Cruz, a senior economist at the independent Center for Research and…
21 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 21 – Elders Finance, a division of (Elders IXL Ltd), is interested in buying a minority stake in either Union Bank of the Philippines or the Philippine Commercial International (PCI) Bank as part of a major thrust into the country, banking sources said. They…
25 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 25, Reuter – A major coalition of Philippine landowners today labelled President Corazon Aquino’s land reforms “communistic” and said violence might erupt if the program was pushed through. “This is a polarisation of classes,” Eduardo Hernandez, chairman of the Council of Agricultural Producers,…
28 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 28, Reuter – Buildings blazed and streets shook in Manila today in the capital’s heaviest fighting since World War Two. “Advance, advance,” civilian spectators shouted to soldiers backing Corazon Aquino as they moved on comrades-in-arms dedicated to overturning the president’s government. Gunfire cracked and…
28 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 28 – The Philippines’ latest coup attempt, the most violent in President Corazon Aquino’s 18 months in office, will severely affect business confidence and create renewed uncertainty for investors, analysts said. Finance Secretary Jaime Ongpin, asked for his reaction to the takeover of parts of…
31 August 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Aug 31 – Manila’s stock markets held steady in the first session after Friday’s coup attempt, but businessmen and analysts polled by Reuters said the most serious threat so far to President Corazon Aquino’s rule was a warning to her to quickly assert control of…
1 September 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Sept 1, Reuter – “Who goes there — friend or foe?” That traditional challenge has acquired new meaning here after last week’s uprising by elite soldiers who helped President Corazon Aquino to power last year, analysts said on Tuesday. A senior army officer who…
4 September 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Sept 4, Reuter – President Corazon Aquino said on Friday democracy had taken one step forward and two steps back since she took power in the Philippines but vowed to continue fighting for her ideals. Ringed by tight security, the embattled leader visited military…
4 September 1987 Reuters News English (c) 1987 Reuters Limited MANILA, Sept 4, Reuter – Low pay and poor working conditions have fuelled unrest in the Philippine military and laid the ground for further coup attempts, analysts said on Friday. “Most soldiers barely manage to survive,” a Western military attache told Reuters. “Housing is almost…