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• Philippines' offshore oil field starts work
MANILA, Philippines - The Philippines announced Thursday that it had begun pumping crude oil from its first oil field development in 16 years — a relief to the country amid ongoing global financial woes. Officials estimate that the Galoc oil field ...
• World markets tumble after huge U.S. losses
In Australia, where the S&P/ASX200 plummeted a record 8.3 percent, market watchers were calling it “Black Friday.” Key indexes in Hong Kong, Singapore, the Philippines and India were all down about 8 percent. South Korea’s Kospi closed down 4.1 ...
• Turbulence forces Qantas emergency landing
The Qantas 747-400 suffered a sudden loss of cabin pressure during a flight from Hong Kong to Melbourne on July 25, forcing the aircraft to make an emergency descent before diverting to the Philippines, where it landed safely in Manila. The pilot ...
• Feeling Wall St.'s pain, Manila to Paris
Layoffs in the Philippines Jobs, too, are falling prey to the U.S. financial crisis, as far away as the central Philippine city of Cebu. Michael Basubas's furniture export company in Cebu, which depends mainly on U.S. customers, has slashed his 200 ...
• Most Asian stock markets recover
Otherwise, regional reaction was muted because several markets were closed for holidays, including those in Hong Kong, mainland China, Singapore, Indonesia, Malaysia, and the Philippines. In early European trading, markets were mixed. Britain’s FTSE ...