GMA News Online / Economy / Finance

Global markets: Stocks, euro rally on relief over Goldman, IMF

Thu, 19 Jan 2012 06:47:25 +0800

NEW YORK - Stocks surged on Wednesday after better-than-expected earnings from Goldman Sachs eased worries about U.S. banks' profits in the fourth quarter, while the euro rallied on the IMF's move to increase its ability to fight the European crisis.

Global Markets: Shares steady as Lisbon sale, Greek talks test confidence

Wed, 18 Jan 2012 15:04:41 +0800

TOKYO - Asian shares and the euro steadied on Wednesday, the day after economic data soothed global worries, and the focus returned to Europe with Portugal testing investor confidence in a debt sale and Greece resuming talks on its debt restructuring.

World Bank cuts global economic forecasts

Wed, 18 Jan 2012 10:44:33 +0800

WASHINGTON - The World Bank slashed its global economic growth forecasts Tuesday and warned that rich nations' debt problems may yet reap a crisis that would eclipse the tumult of 2008.

Global Markets: US stocks pare early gains; Europe worry persists

Wed, 18 Jan 2012 06:28:11 +0800

NEW YORK - Stocks, oil and metals prices rose on Tuesday, helped by improved investor sentiment on the economic outlook in China, the United States and Germany, although persistent worries over the euro zone debt crisis pared gains.

Peso rise in 2011 makes BSP incur P36.7 billion in losses

Tue, 17 Jan 2012 18:54:46 +0800

The Bangko Sentral ng Pilipinas (BSP) said its losses from intervening in the local foreign exchange market fell 36.6 percent in the first nine months of 2011 to P36.7 billion as the country’s peso appreciated against the US dollar.

Global markets: Shares steady as China data eyed; Europe worries weigh

Tue, 17 Jan 2012 08:41:05 +0800

TOKYO - Asian shares inched higher and the euro stayed above a 17-month trough on Tuesday as investors focused on economic data from China to gauge the impact of the euro zone debt crisis on global growth.

Nov. '11 remittances hit new high of $1.78-B

Tue, 17 Jan 2012 07:51:19 +0800

Remittances of overseas Filipinos hit $18.3 billion in the first 11 months of 2011 with a boost of $1.78 billion—a new monthly record high—last November, the Bangko Sentral ng Pilipinas (BSP) said on Monday.

Global markets: Shares fall as euro zone downgrades rekindle fears

Mon, 16 Jan 2012 12:52:38 +0800

TOKYO - Asian shares fell on Monday on fears that mass sovereign debt rating cuts by Standard & Poor's would further aggravate euro zone funding difficulties and drag down global growth, threatening to derail progress in resolving the debt crisis.

PNoy starts preparations for 2013 budget

Sun, 15 Jan 2012 20:26:47 +0800

President Benigno Aquino III has started early preparations to draw up the proposed budget for 2013, the Department of Budget and Management said Sunday.

S&P hammers euro zone politicians with ratings downgrades

Sat, 14 Jan 2012 18:51:47 +0800

NEW YORK��- Standard & Poor's hit the euro zone with a downgrade of half the countries in the single currency area, including formerly AAA-rated France, and it questioned the strategy of its political leaders for dealing with their two-year old debt crisis. Germany was spared.

France debt downgrade to cost dear, analysts say

Sat, 14 Jan 2012 02:18:28 +0800

FRANKFURT��- The looming debt rating downgrade of France and Austria by Standard and Poor's on Friday will not only push up their borrowing costs, it also threatens to hurt their economies, analysts said.

How ratings agencies work

Sat, 14 Jan 2012 02:05:38 +0800

PARIS��- Downgrades of credit ratings can lead to shifts of billions of dollars in investments, but the decisions come down to the work of a couple of analysts who use largely public sources of information.

PHL shares fall from all-time high as investors cashed gains

Fri, 13 Jan 2012 15:56:44 +0800

Shares on the Philippine Stock Exchange fell in active trading Friday as investors cashed their gains after the market reached all-time highs in the last two trading days.

GLOBAL MARKETS: Asian shares gain as strong debt sales ease risk aversion

Fri, 13 Jan 2012 13:26:57 +0800

TOKYO —�Asian shares rose to a one-month high and the euro clung near its strongest in a week on Friday as strong demand in Spanish and Italian debt sales tempered risk aversion ahead of another auction from Rome later in the day.

Oil falls on Iran embargo phase-in plan

Fri, 13 Jan 2012 06:33:09 +0800

NEW YORK - Oil prices tumbled on Thursday in a late sell-off sparked by a report that a proposed European Union ban on imports of Iranian crude would be phased in over six months, reinforcing news already published by Reuters.