Wednesday, October 20, 2010

World Bank raises Philippines' 2010 growth forecast to 6.2%

From its original growth forecast of 4.4% in terms of local output or the gross domestic product this year, the World Bank increased on Tuesday the country’s growth outlook to 6.2%.
Bert Hofman, World Bank country representative to the Philippines cited the bullish outlook as he announced the doubling of its plan and project loans to the country this year.
Hofman said real growth in the first half was driven by a rebound in exports and by domestic consumption that allowed the economy to increase by 7.9% in the second quarter from 7.8% in the first.
At its Philippine Quarterly Update released on Tuesday, the World Bank said consumption, investments and remittances from millions of overseas Filipinos were to “further buoy domestic demand during the remainder of the year.”
“The global recession has demonstrated improvements in the Philippines’ macro financial resiliency, thanks to a extraordinarily robust external position. This is attributed to sound macro fundamentals - particularly the banking system, corporate sector, balance of payments and fiscal and monetary space - coupled with growing remittance flows,” Le Borgne said.

Monday, October 11, 2010

Sachin tendulkar's 49th Test ton leaves Ponting, and rest of the world, in his wake

It is not completely true, as his most ardent admirers are wont to suggest, that when a 16-year-old Sachin Tendulkar made his debut against Pakistan in 1989, he entered the Test arena unannounced. Two years earlier he had scored 326 not out in a schools match, setting a world-record third-wicket stand of 664 with that great displeasure of the modern game, Vinod Kambli. Yet even those who sensed back then that he was a prodigal aptitude, seemingly touched by divinity, never imagined he would reach the landmark he passed this week.
In scoring an unbeaten 191 in the second Test of India's series against Australia in Bangalore yesterday, Tendulkar emphatically declared that he is in the form of his life – a point established by his beating Graeme Swann to the ICC Player of the Year award last week. At 37, that is more than most batsmen can boast; but then none of them have passed the 14,000-run barrier, as India's hero did on Sunday. India completed yesterday on 435 for 5, chasing Australia's first innings of 478.
"As far as me chasing Sachin..." Ponting said ironically of his great rival a fortnight ago, "I was actually expecting that he might have retired before now." Kapil Dev, India's finest all-rounder, still insists Tendulkar has not satisfied his talent. On current form, and much to his opponents' panic, the Little Master appears to agree.

Wednesday, October 6, 2010

Luxury in one of the world's best hotels

An oasis in the shadow of the Taj Mahal, The Oberoi Amarvilas is a cultural purpose in its own right.
The luxurious hotel in the Indian state of Uttar Pradesh, about two hours by train or six hours by road from Delhi, is rated as one of the top 10 in the world.
Stylish arches, domes and flowing symmetry of Mughal and Moorish architectural styles echo the nearby Taj and the Red Fort which are the city of Agra's tourist attractions.
The hotel's red sandstone outside is fiery in sunlight and almost glows by night.
Just 600m from the Taj, the hotel complex spreads over nearly four hectares, containing elaborate gardens, pavilions, fountains and reflection pools in the Islamic tradition.
Staffs welcome travel-weary visitors with cold towels and drinks, and a tour of the hotel which is a showcase for local artisans.
Frescoes on limewashed, creamy sandstone walls are used widely throughout the complex, painted with ground semi-precious stone pigments including lapis lazuli and gold leaf, in ornate Mughal style.

Friday, October 1, 2010

World stocks go up as China manufacturing jumps

World stock markets rose Friday as stronger development in Chinese manufacturing suggested the world's No. 2 economy isn't slowing as sharply as feared.
European markets opened higher, following Asia's advance, while oil prices extended gains to increase above $80 a barrel on hints in U.S. economic indicators of stronger demand for fuel.
Providing a lift to sentiment was news that growth in China's manufacturing gathered pace in September, easing fears of an important slowdown in the world's No. 2 economy. Japan added to the optimism by reporting a fall in unemployment.
Economic indicators from the U.S. were also brighter: Chicago area manufacturing jumped in September, first-time claims for unemployment benefits fell more than expected last week, and second-quarter economic development was revised slightly higher.
In New York on Thursday, the Dow Jones industrial standard fell 47.23 points, or 0.4 percent, to 10,788.05 as investors locked in profits.
Benchmark oil for November release rose 63 cents to $80.60 a barrel in electronic trading on the New York Mercantile Exchange. The contract raised $2.11 to settle at $79.97 a barrel on Thursday.