Saturday, March 1, 2008
Marian Rivera on Dyesebel: Topless kung topless!
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Claudine Barretto clueless about Marjorie's 'kept man'
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Alicia admits she’s pregnant of her politician bf
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Jamilla Bares More on At Home Ka Dito
Mom’s will be able to get new ideas for their kid’s rooms with the unique design decorating love team Joross and Roxanne will be executing. Of course Jam won’t be the only one getting a make-over but she and Charlene will be visiting Myla, who’s a teen-age mom like her. Myla also took desperate measures to provide for her baby. A big change awaits Myla as Jamilla and Charlene give her one surprise after another.
Don’t miss another life changing make-over on At Home Ka Dito! Catch Charlene, Joross and Roxanne this Sunday morning after Inuyasha 2.
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Fed chief signals another rate cut
WASHINGTON - Federal Reserve Chairman Ben Bernanke warned Congress that the nation is in for a period of sluggish business growth and sent a fresh signal Wednesday that interest rates will again be lowered to steady the teetering economy.
"The economic situation has become distinctly less favorable" since the summer, the Fed chief told the House Financial Services Committee.
Since Bernanke's last such comprehensive assessment last summer, the housing slump has worsened, credit problems have intensified and the job market has deteriorated. Bernanke said that the confluence of these factors has turned people and businesses alike toward a more cautious attitude toward spending and investment. This, he said, has further weakened the economy.
Incoming barometers continue to "suggest sluggish economic activity in the near term," Bernanke told lawmakers. At the same time, he added, the Fed must keep a close eye on inflation given the recent run-up in energy and other prices paid by consumers and businesses.
Were energy prices to continue to rise at a sharp clip — which the Fed doesn't anticipate — it would "create a very difficult problem" for the economy. It would spread inflation and would put another damper on growth, Bernanke said. If that happened, he added, it would be a "very tough situation."
The central bank, which started lowering a key interest rate in September, has recently turned much more aggressive. Over the span of just eight days in January, it slashed rates by 1.25 percentage points — the biggest one-month reduction in a quarter century. Economists and Wall Street investors predict the Fed will cut rates again at its next meeting on March 18.
There are dangers that the economy will weaken even further. "The risks include the possibilities that the housing market or labor market may deteriorate more than is currently anticipated and that credit conditions may tighten substantially further," Bernanke cautioned.
He also said consumers need to be financially savvy — understanding mortgages, credit cards and other financial products.
"Well they certainly need to know the interest rate and how it varies over time and what that means to them in terms of payments," Bernanke said. - AP
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What is Stock Market?
A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends. The securities traded on a stock exchange include: shares issued by companies, unit trusts and other pooled investment products and bonds.
To be able to trade a security on a certain stock exchange, it has to be listed there. Usually there is a central location at least for recordkeeping, but trade is less and less linked to such a physical place, as modern markets are electronic networks, which gives them advantages of speed and cost of transactions. Trade on an exchange is by members only.
The initial offering of stocks and bonds to investors is by definition done in the primary market and subsequent trading is done in the secondary market. A stock exchange is often the most important component of a stock market. Supply and demand in stock markets is driven by various factors which, as in all free markets, affect the price of stocks
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First Metro reports 2007 income at record-high P1.41B
MANILA, Philippines- Profit at First Metro Investment, the investment banking arm of the Metrobank Group reached P1.41 billion in 2007, 33 percent higher than its 2006 level.
In a statement sent to the Philippine Stock Exchange, First Metro said this is the highest income level it has achieved in its 35-year history.
Net income was recorded at P1.06 billion in 2006."The company’s performance is reflective of the Philippine economy’s 7.3-percent growth in 2007 which is the fastest in 31 years. This growth resulted in a strong revival of capital markets, both fixed income and in particular the Philippine stock market which rose by 21 percent in 2007 to reach 3,621, beating its previous historical index high posted 10 years ago in 1997,"
First Metro said. Metrobank is the largest bank in the country in terms of assets.
source: GMANews.TV
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Net foreign selling of RP stocks at P13.3B year to date
As i read the news last friday, more than P13.3 billion in foreign funds has exited the stock market as of February 27, as investors, cowed by the weakening US economy, decided to stay out of the local bourse.
In a presentation, Francis Lim, PSE president and chief executive officer, said that as of February 27, 2008, the bourse suffered net foreign selling amounting to P13.3 billion.
Earlier, the PSE said it suffered the worst net foreign selling in January when it reached P11.59 billion, surpassing the P9.4-billion net foreign selling recorded in October 2003.
He warned that if the trend continued, the PSE will lose in six months all the net foreign buying that the stock market piled up in 2007.
However, analysts remain optimistic that the stock market will weather the US economy's weakness, and even political tension in the local front.
“The market and the economy will withstand all the political problems that we have," said Roberto Juanchito Dispo, executive vice president of First Metro Investments Corp.As of February 27, the 30-company Philippine Stock Exchange index was down 14 percent from its 2007 closing level, with the property index suffering the worst with a 21-percent decline.
Comparing the two-month period of the year from the January-February period in 2007, total capital raised through initial public offerings and follow-on offerings were down to P9.7 billion from P16.7 billion. - source: GMANews
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Markets to weather political tension from NBN mess - analysts
MANILA, Philippines- Local market analysts are betting that the interfaith rally scheduled for late Friday, and the ongoing political unease from allegations of high-level corruption in public procurement will have little effect on stock prices and the economy as a whole. Astro del Castillo, First Grade Holdings managing director, told GMANews.
TV that the slight uptick in the stock market earlier Friday was a vote of confidence on the local bourse. The gain happened only hours before the start of a rally to pressure President Gloria Macapagal Arroyo into resigning. The president and her husband have been linked to the allegedly anomalous $329.48-million national broadband network deal with ZTE Corp. of China.
Friday's gain also occurred despite Wall Street's overnight slump.
“We’re happy to note that investors are focused on the opportunities available to them in our bourse. It is a surprise, actually. Investors were optimistic and they seemed to think that nerves will be calmer next week," del Castillo said.
Roberto Juanchito Dispo, executive vice president of First Metro Investment Corp., agreed.
“The market and the economy will withstand all the political problems that we have," Dispo told reporters on the sidelines of a joint seminar by the Philippine Stock Exchange and the Chamber of Mines in Makati City on Friday.
Lawrence de Leon, Accord Capital trader, said that although he felt that players still “traded with caution," the increase in the buying activity in the last 30 minutes of the session showed that they believe that the rally will be peaceful.
However, Sergio Ortiz-Luis, president of the Philippine Exporters Confederation, said the failure of the local market in the previous days to take advantage of the recoveries posted by Wall Street and other regional markets showed that the political tension and even the rally will have an “effect" to the market and the economy.
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Telecom, broadcast industry cite reforms initiated by NTC
The telecommunications and broadcast industry lauded the leadership of National Telecommunications Commissioner Ruel Canobas in bringing about reforms and providing new perspective to the agency, notably the speedy disposition of cases, regular dialogue with the industry and stakeholders, and ontime processing of permits and licenses.
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