An ordinance providing financial assistance of P5,000 to all victims of calamities within the City of Bacolod, was approved by the Bacolod Sangguniang Panlungsod on first reading Wednesday.

The ordinance authored by Bacolod Councilor El Cid Familiaran said calamities affecting people and properties either caused by man-made or natural disasters should always be seriously considered by any organization, especially by the government.

The victims should be provided their essential needs such as medical assistance, foods, stoves, clothing, beddings and shelter for their physical survival, it said.

PSEi index
decline continues

MANILA -- Local share prices extended their losing streak to a second day on thin volume on yesterday after the Federal Reserve signaled it may increase interest rates in December.

The barometer Philippine Stock Exchange index (PSEi) declined 78.57 points to 7,122.45 from previous days.

”Over, above and after discounting third-quarter earnings, the “lift-off” continues to preoccupy the minds of investors. Every comment and statement of any member of the Federal Reserve Board and every economic data releases will be scrutinized and turned-over in the search for stronger hints on D-Day or the “launch” meeting,” said Jun Calaycay of Philstocks Financial Inc.

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