P/$ rate closes at P54.09 to $1.
The peso rate closed higher at P54.09 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P54.17 last Friday. The weighted average rate appreciated to P54.106 from P54.390. Total volume amounted to $374.5 million. Cavite garment firm expands...

CORRECTION.
Byline: The Register-Guard Business: The Dow Jones Industrial Average closed at 11,857.81, up 7.60 Monday. The NASDAQ Composite closed at 2311.77, up 11.87. Gold closed at $578.40, up $6, on the New York Mercantile Exchange; oil rose 20 cents to close at $59.96. The bond market was...

T-bill rates plunge across the board; 91-day at 6.551%.
Yields of Treasury bills declined across the board for the second week in a row at an auction yesterday because of strong demand for the debt papers. The yield of the benchmark 91-day treasury bill fell 10.6 basis points to 6.551 percent from 6.657 percent in last...

Credit rating adjustment for RP imminent -- Tetangco.
Byline: LEE C. CHIPONGIAN Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said a credit rating adjustment on sovereign credit is imminent. "It's a no brainer," he told reporters Friday, "if their analysis is correct." Moody's Investor Service, for example, which is due to...

"Caprichos." (cartoons) (Illustration)
WHEN IT COMES to the complicated business of securities lending, Detroit' s Comerica Bank has found a way to provide trust customers with a system to increase revenue without exposing their investments to unnecessary risk. In the wake of less profitable stock and bond market conditions in...

Overseas investors ... thanks but no thanks.
Whilst most of the region's stock markets have been keen to woo institutional money from overseas investors, Tunisia has bucked the trend and kept the doors of its bourse firmly shut. Andrew Album continues our series of reports on the region's stockmarkets. The Tunisian stock exchange, claims its president...

ARAB-AFFAIRS - May 18 - Egypt Warns Against Hasty Debt Issues.
Egypt advises Arab countries to do their best to attract international funds, but cautions against hasty debt issues and privatisation. PM Atef Obeid, whose country is popular among emerging market investors, tells the Arab Investment and Capital Markets Conference in Beirut of Egypt's 18 years of experience in reforming...

New instrument for old players.
The news that the Kuwait Investment Authority (KIA) - the government's investment arm - is promoting a forward share market has put the oil-rich state at the forefront of the drive to build more dynamic financial markets in the Gulf. Although coming at a time when local sentiment is already...

WHEN GENIUS FAILED: The Rise and Fall of Long-Term Capital Management.
WHEN GENIUS FAILED: The Rise and Fall of Long-Term Capital Management By Roger Lowenstein Random House, $26.95 Capital Mismanagement Nobel prizes and billions of dollars don't always equal success ONE DAY IN THE EARLY FALL OF I975 I SAT in the...

BERMUDA ANGLE.
Bermuda's Symbols of Growth If the Bermuda insurance industry has a bellwether these days, it would have to be Ace Ltd. For better or worse, Ace symbolizes the fast growth and global ambition of the island's insurers, having acquired several major organizations over the years, and climaxing...