World markets plunge

Japanese shares nosedived more than 10 percent (AP)
Office workers look at an electric stock price display during their lunch hour in Tokyo, Friday, Oct. 10, 2008. Japanese shares nosedived more than 10 percent in morning trade Friday as panicked investors dumped stocks following massive overnight losses on Wall Street and on growing fears over a global recession.
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House members rushing approval of nat’l budget
spacer The country’s congressmen were expected to approve on second reading the proposed P1.415 trillion national budget for 2009 but this development might come by dawn today.

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TOKYO (AP) — A massive selloff on Wall Street and escalating fears of a global recession sent world stocks plunging Friday, with Japan’s key index shedding nearly 10 percent to close out its worst week in history.

Oil prices fell five percent to $ 82 a barrel, a one-year low, as fears that market turmoil will send demand for fuel slumping outweighed news that OPEC will hold an emergency meeting in November. US light crude for November delivery fell $ 4.16, or 4.8 percent, to $ 82.43 a barrel by 0503 GMT,...
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Monetary Board approves new bank branching policy
spacer The Bangko Sentral ng Pilipinas (BSP) will implement two new circulars to improve depositors’ access to bank credit and services.

Pool bets ease past Denmark
spacer Francisco “Django” Bustamante and Dennis Orcollo of Team Philippines crushed Denmark’s Martin Larsen and Kasper Kristoffersen, 8-2, to advance to the second round of the 2008 PartyPoker.net World Cup of Pool Wednesday at the Outland Nightclub in Rotterdam, Holland.