Online Diary of Renzou

NEW YORK - Stocks ended little changed on Monday after the biggest US takeover deal proposed this year helped offset the comments by influential investor Warren Buffett, one of the deal's backers, that the country could face a long and deep recession.

Signs of life stirred in the moribund merger-and acquisition market when Mars Inc, the maker of M&Ms candy, offered to buy Wm Wrigley Jr Co, the world's largest chewing gum maker. Buffett's Berkshire Hathaway will help finance the $23 billion acquisition.

The deal underscored the notion that stocks are relatively cheap, with valuations hovering near their lowest in more than a dozen years. That helped financial stocks overcome a report from Morgan Stanley that predicted more profit headwinds for several large US banks, including Bank of America Corp.

Buffett, however, told CNBC television that the United States could be mired in a longer and deeper recession than most people think.

Read the full article>>

The Philippine Stock Exchange will revise the composition of its benchmark and sector indices on May 26 to encourage companies to expand their ownership and boost market growth.

The changes followed a review of 2007 trading activity, the bourse said.

"As we complete another review of the indices, we in the PSE reiterate our position that the free float methodology in computing the index benefits both investors and the listed companies alike," PSE president Francis Lim said.

"That's because the exercise encourages companies to increase their free float. In the process, they increase the level of activity in our market, and this increased activity in turn helps enhance the value of the stocks."

Read the full article>>

Take me back in the arms I love
Need me like you did before
Touch me once again
And remember when
There was no one that you wanted more

Don't go you know you will break my heart
She won't love you like I will
I'm the one who'll stay
When she walks away
And you know I'll be standing here still

I'll be waiting for you
Here inside my heart
I'm the one who wants to love you more
You will see I can give you
Everything you need
Let me be the one to love you more

See me as if you never knew
Hold me so you can't let go
Just believe in me
I will make you see
All the things that your heart needs to know

I'll be waiting for you
Here inside my heart
I'm the one who wants to love you more
You will see I can give you
Everything you need
Let me be the one to love you more

And some day all the love that we had can be saved
Whatever it takes we'll find a way

I'll be waiting for you
Here inside my heart
I'm the one who wants to love you more
Can't yousee I can give you
Everything you need
Let me be the one to love you more

Source: www.google.com

Read the full article>>

Global think-tank GlobalSource expects the Philippine economic growth to slow to between 5.5 and 5.7% in 2008, on account of a looming US recession and high commodity prices.

That's down from its previous estimate of 6.1%.

GlobalSource provides research and analysis from economists and political analysts to multinational corporations and financial institutions throughout the United States, Europe, Latin America and Asia.

GlobalSource is the latest among analysts with slower growth projections in 2008, a startling contrast to the 7.3% GDP growth last year.

The World Bank estimated that Philippine GDP would expand 5.9% this year, while the Asian Development Bank forecast a 6% expansion. A consensus forecast among analysts by FocusEconomics showed GDP was likely to grow 5.8%.

Read the full article>>

Holding firm Alliance Global Group Inc. of taipan Andrew Tan said Tuesday it posted a record-high net income of P3.3 billion last year as revenues from its businesses more than tripled.

In its financial report, the company said consolidated revenue soared 210 percent to P27.3 billion from P8.8 billion in 2006.

"The company's solid financial position will ensure that all our business segments will have sufficient capital to support their operations amid challenges in the current business climate," said Alliance Global president Kingson Sian.

Read the full article>>

Malacañang already paid strawberry and lettuce farmers for the produce ordered during President Arroyo's trip to La Trinidad, Benguet during Holy Week, a Palace official said Sunday.

But Anthony Golez, deputy Palace spokesman, admitted that the payment was indeed delayed. He, however, said that it was not the Palace's fault but rather, the staff that arranged events for the President.

"It was never intended to delay the payments. The problem is not with the President but with maybe with the staff that was arranging the events for the President."

Read the full article>>

Vice President Noli De Castro welcomed Friday an estimated $500-million investment agreement signed recently between a Guangxi business group and Philippine business groups.

Among the projects signed include ore marketing, grain and oil processing, dock construction, knitting craft, cooperation and trade, EXP trade contract and chromite development engineering.

At least six companies from Guangxi entered into a contract with Philippine business firms, he added.

Read the full article>>

The Bacolod City Price Monitoring Team started its monitoring on prices of rice and prime commodities in Libertad market, one of the main sources of fresh agricultural products in the city.

During the monitoring on Thursday, the team found out that two retailers in the market were using wrong labels of variety of rice to mislead consumers.

Pineda said, it may be considered as price manipulation, a violation under Republic Act 7581 or the Price Act, and those responsible may be penalized from 5,000 pesos to 2 million pesos and maybe imprisoned for five to ten years.

Read the full article>>

Philippine stocks ended a two-day advance on Friday after Wall Street's lackluster performance overnight due to cautious outlooks from some US companies that revived worries about the slowing economy.

Analysts said local investors also refrained from taking aggressive positions because of inflationary concerns.

The main index fell 24.81 points or 0.84 percent to 2,915.67.

The broader all-share index lost 12.17 points or 0.7 percent at 1,790.06.

Losers beat gainers, 65 to 41, while 54 stocks were unchanged.

Read the full article>>