Monday, September 29, 2008 (Philippines)

A laborer walks on top of steel bars at a construction site in Singapore. "Bailout" is back as a buzzword 11 years after the Asian financial crisis, but this time the tables are turned: the US is scrambling to rescue ailing banks while a healthy Asia watches.(Afp photo/Roslan Rhaman) FOLLOWING Filinvest Land Inc.’s (FLI) offer, Cebu City Hall is starting talks with the Aznar family for the purchase and development of up to 100 hectares of their estate in Barangays Pardo and Toong for an “urban poor city” there. The City has also started discussions with the Asian Development Bank (ADB) for possible funding of the 5.6-kilometer highway that will connect SRP to Pardo and Toong. Both projects were announced by Mayor Tomas Osmeña last year. He said they will be possible once the City starts earning from the South Road Properties (SRP). [full story]