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Asian shares mostly up as US avoids default

Illegal parking agents cycle past an electronic stock board of a securities firm in Tokyo, Thursday, Oct. 17, 2013 as Japan's bench mark Nikkei 225 Index closed at 14,588.51 after gaining 119.37 points, or 0.83 percent. An eleventh hour agreement that averted a U.S. government debt default boosted Asian stock markets Thursday. AP

Asian shares mostly rose Thursday after US lawmakers passed a last-minute bill to reopen the government and raise the country’s borrowing limit, avoiding a devastating default that threatened to spark another global recession.

Posted: October 17th, 2013 in Latest Business Stories | Read More »

Stock market falters after 6-day run-up

By
PSE index as of October 09, 2013, 03:46:00 PM

The local stock market ended a six-day run-up on Wednesday as investors weighed the risks of a US debt default as a result of the political stalemate that has held up passage of the US federal budget alongside concerns about weaker global economic prospects cited by the International Monetary Fund.

Posted: October 9th, 2013 in Latest Business Stories,Stocks | Read More »

Obama wants action on government’s borrowing limit

By
US President Barack Obama. AP

President Barack Obama is hailing a last-minute deal that pulled the country back from the “fiscal cliff,” but warned that he “will not compromise” over his insistence that Congress lift the federal debt ceiling.

Posted: January 6th, 2013 in Latest Business Stories | Read More »

Save Act gaining support

The Save Our Industries Act (Save Act), a bill that seeks to expand Philippines-United States trade in the textile and garments sectors, has been refiled in the US Senate and will soon be reintroduced in the US House of Representatives. Democrat Senator Daniel Inouye of Hawaii, one of the legislators who filed the original bill [...]

Posted: June 29th, 2011 in Headlines | Read More »

DTI taps Pacquiao as endorser of bill that will boost PH garments exports to US

By

The Department of Trade and Industry is sending boxing champ Manny Pacquiao to help endorse to US legislators the passage of the Save Our Industries Act (Save Act), a bill expected to give the Philippine garments industry a much-needed boost.

Posted: June 26th, 2011 in Latest Business Stories | Read More »

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