Philippine Airlines

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LOCAL corporate fundraising may suffer from delays and higher costs, as emerging markets like the Philippines reel from a global credit crunch arising from the United States housing woes.

THE policy-making body of the Bangko Sentral ng Pilipinas (BSP) on Thursday decided to keep its overnight interest rates steady, citing a benign inflation outlook and the limited impact the recent turmoil in global financial markets would have on the domestic financial system.

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