BSP acts to help ease pressure on peso

By Doris DumlaoPhilippine Daily InquirerFirst Posted 03:30:00 11/01/2008
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Bracing for an escalating global financial turbulence, the central bank, Bangko Sentral ng Pilipinas (BSP), announced new measures to ease pressure on the sharply weakening peso as well as to help temper banks’ losses from depressed asset values.
BSP Governor Amando Tetangco Jr. said the central bank had granted a temporary relief on the booking of losses arising from banks’ foreign currency deposit units (FCDU) assets to stop banks from scrambling for US dollars at the foreign exchange market to meet asset cover requirements.
“This is another measure taken by the Monetary Board [the policymaking body of the BSP] in recognition of the extraordinary circumstances in the global financial market that has created unprecedented market volatility,” Tetangco said.
An FCDU is a unit of a local bank or of a local branch of a foreign bank authorized by the BSP to engage in foreign exchange denominated transactions, such as accepting foreign currency deposits and granting of foreign currency loans.
The FCDU system’s deposits— such as those placed by overseas Filipinos and their families, exporters or multinational corporations—are considered the country’s second layer of foreign reserves.
As an additional one-time regulatory relief, Tetangco said the BSP was giving banks with exposure to structured products a more flexible way of booking market losses from these instruments.

Full Stories : http://business.inquirer.net/money/topstories/view/20081101-169633/BSP-acts-to-help-ease-pressure-on-peso

Travel Advise for Philippines - Austrialian

This advice has been reviewed and reissued. It contains new information under Terrorism (continuing high threat of terrorist attack in provinces in Mindanao). The overall level of the advice has not changed.
Summary
We advise you to exercise a high degree of caution in the Philippines because of the high threat of terrorist attack. We continue to receive credible reports indicating terrorists are planning attacks against a range of targets in a variety of locations, including places frequented by foreigners. If you do decide to travel to the Philippines, you should exercise extreme vigilance.
Attacks could occur at any time, anywhere in the Philippines. There have been terrorist attacks in Manila, most recently in November 2007. You should read the Terrorism section and avoid places known to be terrorist targets.
We strongly advise you not to travel to Mindanao, including mainland Mindanao, the Zamboanga Peninsula and the Sulu Archipelago, due to the very high threat of terrorist attack, including kidnapping, and related counter-terrorism operations. Armed clashes between the Philippines Armed Forces and Moro Islamic Liberation Front are continuing after fighting broke out on 10 August 2008 in central Mindanao. If you are in these areas, you should consider leaving.
There is a danger of kidnapping throughout the Philippines, particularly in the southern Philippines including from coastal and island tourist resorts and dive sites. Terrorists have kidnapped tourists from these areas in the past. Kidnap for ransom gangs are active and have targeted foreigners.

Full Story http://www.smartraveller.gov.au/zw-cgi/view/advice/philippines

Brand New - 2008 Nissan Patrol Super Safari Series in Auto Trade Center

The Nissan Patrol features a sleeker, more elegent exterior featuring a fuctional side step board, chrome door handles and side mirrors, multi-reflector halogen headlamps, side turning lamps, stylish new bumper and chrome grille designs, over fenders, a distinctive hood-mounted air scoop intake, and handsome alloy wheels, with wide, 265/70R16 radial tires that assure excellent road handling capabilities. For more details and other cars Check out http://www.autotradecenter.i.ph/blogs/brandnewcars/

Magic Mall in Town

There is a new Magic Mall in Town of Binmaley. They opened yesterday last October 31, 2008, It has a department store and Groceries. The small town of binmaley is improving new infrastructures but many mores to improve. Soon they will put-up a Jollibee Food Haus in Binmaley but still we don’t know where they gonna put it. Good Luck to the Magic Group of Companies for thier new Branch in Binmaley.

HP Releases Mini 1000 Netbook Series

Hewlett-Packard unveiled today the new netbook series called HP Mini 1000. The low-cost ultraportable, based on the Intel Atom N270 1.6GHz processor, is initially offered in three variants – the standard HP Mini 1000, Mini 1000 Vivienne Tam Edition, and Mini 1000 with MIE (Mobile Internet Experience) Linux OS. HP says these companion PCs provide “a simplified Internet experience in a sleek, ultra-portable design”. Each is less than 1-inch thick, weighs a little more than 2 pounds and has a keyboard that is 92 percent the size of a standard notebook PC keyboard. All come with a BrightView widescreen Infinity display (1,024 x 600 resolution) with flush glass and LED backlight, built-in webcam and microphone, according to the company.

The HP Mini 1000 features a piano-black finish with HP Imprint swirl design is pre-installed with Windows XP Home, making access to the web, critical files and PC applications easily portable. It includes an Ethernet jack, two USB ports, and Wi-Fi and Bluetooth wireless capabilities. Versions with 3G capabilities are expected to be available in December.
Configuration choices include screen size – 8.9-inch or 10.2-inch diagonal BrightView display – and solid-state or mechanical hard-drive options.
The HP Mini 1000 Vivienne Tam Edition comes in vibrant red with a peony-flower inspired design that reflects the globally acclaimed fashion designer’s Spring 2009 collection. It seeks to satisfy the highly mobile, Internet-centric fashionista and features a 10.2-inch diagonal BrightView display.
Its design was first unveiled on the runway of Tam’s Fall 2009 Fashion Week show in Battery Park in New York, although many on the scene mistook it for a purse rather than the companion PC that it is. Tam labeled it the world’s first “digital clutch.”
The Vivienne Tam Edition companion PC runs Windows XP Home, making the web, critical files and PC applications easily portable. It includes an Ethernet jack, two USB ports, and Wi-Fi and Bluetooth wireless capabilities. Versions with 3G capabilities are expected to be available in December.The HP Mini 1000 with MIE (Mobile Internet Experience) is a uniquely simple, mobile Internet companion. An HP-developed interface makes it easy to enjoy digital content – videos, photos, music and email – on demand and on the go. MIE comes loaded with instant messaging, email and Skype for online video chat, making it easy to enjoy social-media experiences anywhere consumers are connected.
Applications enabling browsing, email and online video are pre-loaded and run from the MIE dashboard, minimizing startup time. Favorite websites that are added to the dashboard stay live, and the taskbar makes it easy to switch between programs.
The HP Mini 1000 with MIE runs the Linux operating system. It includes an Ethernet jack, two USB ports, and Wi-Fi and Bluetooth wireless capabilities.
The HP Mini 1000 is available now in the United States at the PC maker’s website with a starting price of $399. The Mini 1000 Vivienne Tam Edition is expected to be available in the US in mid-December for an estimated price of $699, while the Mini 1000 with MIE is going to hit the market in January with a starting price of $379.