How the Cleaver family destroyed our S&Ls; low mortgages, high CD rates, and money market funds allowed Americans over 40 to take the rest of us to the cleaners.
How the Cleaver Family Destroyed Our S&Ls After a fair amount of confusion over which vague entity ("deregulation," "campaign finance") deserved the blame for the $500 billion savings and loan crisis, congressional leaders and the press are helpfully trying to focus the nation's resentment on one of two...

Born again bourse.
THE GOVERNMENT is workingk on a plan to develop a capital market structure aimed at making Cairo a leading financial centre in the Middle East. It is shortly to release a new capital markets law which should lay the foundations for a revitalised securities exchange before major public companies...

Gov't plans new issue of $500-million bonds.
Byline: FIL C. SIONIL The national government plans to borrow some $500 million through a bond issue from the international market within the year to fund the projected $1.7 billion requirement for 2003. Bangko Sentral ng Pilipinas (BSP) Governor Rafael Carlos B. Buenaventura told reporters...

HGC upbeat on housing outlook; 600,000 new homes needed yearly.
Home Guaranty Corp., a state agency that guarantees home mortgages, gave an upbeat assessment of the Philippine housing sector, with demand continuing to outpace supply by a wide margin despite the industry's higher output. Speaking at a forum on Philippine housing financing, HGC President Gonzalo Bongolan said...

UBS gets mandate on S$ bond issue; S$300 M to S$500 M.
The national government has given the mandate to Swiss-based UBS Warburg to handle the flotation of the country's S$300 million to as much as S$500 million bonds with maturity of five years slated within this month. (This is equivalent to US$165 million to US$275 million at US$1...

P/$ rate closes at P46.13/$ 1.
The peso exchange rate closed higher at P46.13 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P46.39 the previous day. The weighted average rate depreciated to P46.389 from P46.241. Total volume amounted to $ 703.44 million. BSP losses rise to P39.2...

P/$ rate closes at P44.34/$ 1.
The peso exchange rate closed lower at P44.34 to the US dollar yesterday at the Philippine Dealing & Exchange Corp. (PDEx) from P44.05 the previous day. The weighted average rate depreciated to P44.219 from P44.061. Total volume amounted to $ 550.06 million. 10-yr bonds fetch...

NEWS IN BRIEF; P/$ rate closes at P51.33 to $1.
The peso rate closed higher at P51.33 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P51.60 the previous day. The weighted average rate appreciated to P51.396 from P51.644. Total volume amounted to $704.55 million. 2-yr T-bond fetches...

3-year program to transform housing finance system set.
The Housing and Urban Development Coordinating Council (HUDCC) has ordered all key shelter agencies of the government to improve the country's housing finance system in order to check the worsening housing backlog. Vice President Noli "Kabayan" de Castro, who concurrently chairs the Housing and Urban Development Coordinating...

BSP, DoF at odds over $200-M ADB swap facility.
Byline: LEE C. CHIPONGIAN Asian Development Banks offer for a $200-million currency swap is creating friction between the respective heads of the Bangko Sentral ng Pilipinas and Department of Finance. The dollars that the government will receive from the facility could help plug a funding...