The Philippine Commission on Audit asked the Department of Budget and Management to issue guidelines for the release of public funds for different local projects.
Industry
US to Japan- Open auto, insurance markets
The United States asked Japan to give foreign companies more access to its auto and insurance markets.
Asian markets suffer from Fed policy issue
Asian markets affected by US stock's worst weekly performance for the year. Asian markets fluctuated with meek profits and losses Monday as apprehensions rose on US market issues.
Sales of Petrol cars increase in India
Car manufacturers increased production as rise in sales of petrol driven cars in India continue. In India, demand for petrol cars increased after a 25-month hiatus.
Japan trade affects deficit in economy
Japanese economy faced a higher deficit as overseas economies strengthens. Japan economy experienced a widening gap in its trade balance, according to a Reuters report.
Latest News
The leading Hungarian tour company, Best Reisen Ltd announced bankruptcy after big losses on its Egypt and Tunisia tour packages.
China’s National Development and Reform Commission or NDRC planned to examine big industries such as petroleum, banking, auto and telecommunications as part of its ongoing investigations on anti-trust violations in the country.
German bonds declined on its second week signaling an improved damp demand for the euro region's safest fixed-income assets.
U.S. consumer prices went up as predicted in July. U. S. consumer prices went up as predicted in July. This increase may console officials of the Federal Reserve program who have been worried about low inflation while they evaluate process on cutting down massive bond buying schemes.
China announced its plans of easing laws for foreign investors in its free trade zones. China has planned to ease laws on foreign investment in the country's new free trade zones.
China would be giving perks for foreign and private investors interested in providing elderly care services and facilities in the country.
Prime Minister Manmohan Singh of India said the country will not replaying the crisis that occurred in 1991 even as it experiences its slowest growth in a decade.
North and South Korea announced that they had agreed to reopen the Kaesong industrial complex, which was closed when tensions grew between the two countries in April.
US Airways and American Airlines promised to fight the antitrust lawsuit filed by the US Department of Justice, of which halted the airline companies' USD 11 billion merger.
