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MANILA, Nov 1 Asia Pulse - Highlights of today's newspapers:
MANILA TIMES:
- Justice Secretary Raul M. Gonzalez on Monday warned that the United States Embassy could be held liable for rumormongering owing to its report that former President Fidel Ramos was plotting to overthrow President Arroyo.
- Banks bad loans as a share of their total portfolio continued to decline in August, the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) said.
- To protect developing country borrowers including the Philippines from foreign-exchange risk, the Asian Development Bank (ADB) plans to adopt a special drawing right (SDR) approach to lending next year.
- Convinced that the present system of ownership has been disadvantageous for the market, the Philippine Stock Exchange (PSE) has decided to push for its demutualization.
- To capture additional growth in its telecommunications business, Lopez-led Bayan Telecommunications Inc. (BayanTel), which is under rehabilitation, will infuse additional capital for the expansion of its existing satellite facilities in Mindanao next year.
Source: HighBeam Research, PHILIPPINE NEWSPAPER HIGHLIGHTS - NOV 1, 2005.