By Satur C. Ocampo At Ground Level | The Philippine Star The 2008-2009 global financial and economic crisis – euphemistically billed as the Great Recession – has hardly been licked. Yet financial reportage and analyses in the past week, and the financial-business elite’s discussions at the World Economic Forum in Davos, Switzerland focused on fears…
BY BULALAT Labor group Kilusang Mayo Uno (KMU-May Fist Movement) said the wave of oil price rollbacks is only ‘a smokescreen to the continued exploitation of the oil companies.’ Elmer Labog, KMU chairperson said the people deserve bigger price cuts. The group said the diesel pump price should only be P37 or $0.79 (USD 1:…
As the US falls into recession, the rest of the global economy is being sucked downwards with it. The collapse of credit instruments originating in the U.S. is also weakening the financial balance sheets of banks and other overseas holders of these investments, affecting not just the banking sector but also stock markets abroad. Banks…