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You are here: Home Page  >   News at PESOePADALA

2009-12-16. HOLIDAY SCHEDULES

Holiday Schedules:

Last Day of Acceptance:

17 Dec. - Provincial door to door

22 Dec. - Metro & Immediate to Metro Manila door to door, BDO Pick ups & RCBC Pick ups ONLY.

23 Dec 2009 - 03 Jan. 2010, NO Processing, Manila Office will be CLOSED on these dates.

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2009-11-26. Announcement

30 NOV. 2009 will be Bonifacio Day, a Legal Non-Working Holiday in the Philippines, NO WORK.
no completion of remittance transaction on this day

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2009-10-31. Special Announcement

02 Nov. 2009 Monday is a Non-Working Legal Holiday "All Saints Day".Philippine Office will be CLOSED....

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2009-09-15. Announcement

Please be advised that September 21 was declared as non-working holidays in the Philippines in observance of Eid ul Fitr (End of Ramadan). In viewthereof, Philippine office will be closed on the said date.

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2009-09-07. Announcement

07 Sep. 2009 Monday was declared as Non Working Holiday in honor of the late Supreme Head of Iglesia ni Kristo "ERANO MANALO's" burial....

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2009-08-25. Announcement

30 Aug. 2009 is our NATIONAL HEROES DAY, since it falls on a SUNDAY the next day will be a NON-Working Legal HOLIDAY...

31 Aug.2009 will be a Non-Working Legal Holiday, no work on this day...

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2009-08-19. Special Announcement

21 Aug. 2009 is a LEGAL Non-Working Holiday, Ninoy Aquino Day....

We will have door to door delivery to Metro Manila and Immediate Provinces on this day only.

22 Aug. 2009, No WORK on this day in lieu of the Legal Non-Working Holiday mentioned above.

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2009-07-28. Cebuana Lhuiller Pera Padala is back

To all our valued Clients Please be advised that Cebuana Pick through Partnership with Reliable Remittance Corporation is back

Just note that you have to wait for 3 to 4 hours upon receipt of Pick up reference prior to going to the Cebuana Branch

Thanks for your continued patronage!

from your friends@pesoepadala.com

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2009-07-28. Remittance Order via Phone or Email

To all our valued clients

For your convenience we now accept remittance order via phone or email:

For those clients who are in hurry or having issues with lodging transaction online , please feel free to send your remittance via our Hotline number Australia Wide Priority Call
1300.88.73.39 or email your remittance details at customerservice@pesoepadala.com

Thanks for your continued patronage

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2009-07-09. Special Announcement

07 Sep. 2009 Monday was declared as Non Working Holiday in honor of the late Supreme Head of Iglesia ni Kristo "ERANO MANALO's" burial....

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2009-07-02. ANZ Bank Accounts

To all our valued clients: Our ANZ bank accounts had been changed. Please make use of these accounts from now on:

1..Bank Name ANZ BANK (Merrylands Branch)
Anna Liza Cale
BSB Number 012125
Account Number 482206086

2. Bank Name ANZ BANK (WestField Centre Parramatta Branch) Account Name Anita Esguerra
BSB Number 012437
ccount Number 502120301
Account Type Access account

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2009-07-02. Credit Card Payment - no longer accepted

Dear all

Due to several disputed payments lodged by some unscruplous credit card user/ holders that had caused Pesoepadala Management to be at the losing end, we are forced NOT to accept credit card payments as mode of Payment anymore effective immediately.

This incident should not in anyway would affect Pesoepadala services for all clients based in Australia

We are hoping for your understanding and continued support.

Regards
Pesoepadala.Com Management and Staff

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2009-06-20. PINOY MONEY CARD CHARGES

Dear Valued Client,


Please be advised that, effective July 1, 2009, we will be implementing an updated fee schedule for international ATM transactions for the Pinoy Money Visa ATM/debit card. These fees will be charged to the cardholder.

The updated fees for International ATM transactions are:

ATM Withdrawal Fee: Php 100

ATM Balance Inquiry Fee: Php 50

In our previous FAQs for the Pinoy Money Visa ATM/debit card, the stated international ATM fees were as follows: ATM Withdrawal Fee of US$ 3.00; ATM Balance Inquiry Fee of US$ 2.00. However, UnionBank has not been actually charging these transaction fees to the cardholders, while VISA has been charging UnionBank the VISA interchange fees, and UnionBank has been absorbing the latter fees as direct expenses. The above-mentioned International ATM transaction fees shall be used by UnionBank to cover the VISA interchange fees. Other Philippine banks also charge their ATM cardholders similar fees for international ATM transactions

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2009-05-27. REMINDER : PINOY MONEY CARD REQUIREMENT

Please be informed that due to our central monetary authority (Bangko Sentral ng Pilipinas) AMLA Requirement, we are requiring all our valued clients availing of pinoy money card to send the scanned copies of the Identification (e.g., passport with photo) .

We won't process any transaction until this is complied with

Hoping for your usual cooperation.

From Pesoepadala.Com Management

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2009-05-14. Delays on processing transactions

To all our valued customers

This is just to express our sincere apologies for all the delays and communications we are currently encountering.

We have some technical issues with our remittance partners due to recent typhoon in the Philippines and we are as well having problems with our telephones lines..

We shall keep you posted on how we are going with fixing the issues

We are hoping for your understanding.

The Management

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2009-04-21. NEW AND OLD SENDERS AUSTRAC REQUIREMENTS

Hi All Per austrac requirement, we need to update all our clients details. Please include full details of senders, complete name, same as what is appearing in ther ID, Full address, Date of birth, when you send transaction , for particular sender. This is for new and old senders FOR NEW SENDERS, AGENTS HAVE TO SIGHT THEIR ID'S. IF remittance order IS VIA INTERNET OR PHONE CALL, PLS GET THEM TO FAX TO COPY OF THEIR PHOTO ID. IF NOT COMPLIANT BY NEW SENDER, Remittance order WILL BE ON HOLD TILL WE GET REQUIREMENT. PLEASE DO NOT TAKE THIS LIGHTLY. ANOTHER SERVICE PROVIDER WAS STOPPED OPERATION RECENTLY BY AUSTRAC, BECAUSE OF NON-COMPLIANT by Pesoepadala.Com Management

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2009-03-30. HOLY WEEK Schedules:

HOLY WEEK Schedules:

08 Apr. 2009- Bank deposit in the morning only, Door to door delivery whole day.... NO PROCESSING in the morning of 08 Apr. 2009.


09 - 12 Apr. 2009 Philippine Office will be CLOSED in observance of Holy Week.

12 Apr. 2009 - Processing starts in the afternoon for delivery the next day 13 Apr. 2009.

13 Apr. 2009 - Philippine Office resumption

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2009-02-16. No new taxes for stimulus - Tanner

Taxes won't be jacked up to pay for the government's $42 billion stimulus package - but the commonwealth will put the brakes on new spending in the budget.

With $12.7 billion in cash handouts and billions more for a raft of nation building measures set to be doled out, it has been suggested an election could be called as early as September.

Parents, working Australians and farmers affected by the drought are set to receive up to $900 in one-off cash payments, beginning in March, while $28 billion in spending on schools and public housing will begin as early as next week.

But Finance Minister Lindsay Tanner has dismissed talk of an early election, saying the government is focused on guiding Australia through the global economic crisis.

'People in these circumstances expect us to govern, they expect us to deal with the crisis we've been presented with,' he told Network Ten.

'We are literally one year and three months into our term, the last thing I want to talk about is elections.

'An election I don't think would create jobs, I don't think it will help us tackle the huge problems that we've got arising from the international recession.

'We are committed to doing what's needed to govern Australia, to protect jobs and to ensure that growth continues.'

Labor has brought forward its national conference from January 2010 to July 31, fuelling speculation of an early poll, but the decision to change the date was made last year.

Mr Tanner was also adamant there would be no increases in taxes to pay for the government's stimulus package.

The opposition has criticised the plan, saying it will burden future generations of Australians with $200 billion worth of debt.

Mr Tanner said the government had a three-pronged plan to get the budget back into surplus, adding that tax hikes were not a part of that plan.

He said tax revenues would rise again automatically as growth returns.

'Without having to change any tax rates they will rise again automatically.'

Mr Tanner said there would also be a two per cent cap on increases in spending until the budget returned to surplus.

'Any new spending proposals, once growth has resumed, will have to be offset by savings,' he said.

However, there are concerns plans to adopt a paid maternity leave scheme, likely to cost at least $500 million, could be delayed as a result of the financial crisis and pressure on the budget.

Employment and Workplace Relations Minister Julia Gillard said the government was yet to make a decision on paid maternity leave, but said it remained in the mix as part of budget considerations.

The government was awaiting a final report from the Productivity Commission which it expects to have by the end of the month, Ms Gillard said.

'Government will then respond to that final report and paid maternity leave will be considered in the budget context,' she told the Nine Network.

'Obviously, things that amount to expenditure, particularly ongoing expenditure for the nation, will be dealt with in the budget context.'

The ranks of the unemployed are expected to swell by 300,000 as the global recession continues to weigh on the domestic economy.

Ms Gillard said the next Council of Australian Governments meeting would explore the possibility of adopting new measures to help and support the jobless.

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2009-02-02. Australian sharemarket falls

The Australian sharemarket has fallen in the first day of the new trading week.

At 10.55am AEDT, the benchmark SP ASX 200 Index was 51.3 points or 1.5 per cent lower to 3489.4.

Rio Tinto shares were bucking the overall market downtrend, trading 94 cents or $2.23 higher to $43.09.

The miner confirmed to the market it in fact had been in talks with China's Chinalco about a possible investment.

Rio Tinto has been looking for ways to raise cash to pay down around $10 billion in debt.

Shares of Gold producer Newcrest Mining were placed in a trading halt.

The miner announced it would raise $500 million through an institutional share placement.

The shares will be sold at $27, a $4 discount to Newcrest's closing price on Friday.

In late morning trade, the Australian dollar was trading just about 63.5 US cents ahead of tomorrow's interest rate decision by the Reserve Bank.

Analysts predict a rate cut of as much as a 1 percentage point, bringing the cash rate to 3.25 per cent.

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2009-01-13. Job ads dropped in December: survey

The demand for new labour deteriorated to "recession levels" in December, with the number of job advertisements falling for an eighth straight month, a survey has found.

The number of job advertisements in major metropolitan newspapers and on the internet fell by 9.7 per cent in December to an average of 190,661 per week, according to ANZ Banking Group's monthly survey.

Job advertisements were 29.9 per cent lower than 12 months earlier, the survey found.

The number of job ads in newspapers slipped 13.9 per cent in the month.

Job ads in newspapers have fallen 51.8 per cent in the 12 months to December, the weakest annual rate of growth since the survey began in 1975 and worse than at any time during the 1982 and 1991 recessions.

ANZ head of Australian economics Warren Hogan said the rate of decline in job advertising intensified in December, "providing further evidence that the demand for new labour across the Australian economy is now at recession levels".

"A 50 per cent decline in newspaper job advertising in a year is historically consistent with economic recession within the next nine months and a rise in the unemployment rate over the following years," Mr Hogan said in a statement.

Mr Hogan said historical comparisons were based on the newspaper series because Australia had not slipped into recession since the survey began covering internet job ads in 1998.

The number of internet job ads fell by 9.5 per cent in December and were down 28.1 per cent in the 12 months to December, the weakest outcome in the history of the survey.

Mr Hogan said the federal government's forecast of an unemployment rate of five per cent by June 2009 was "too optimistic".

"We expect to see an upward revision to the official unemployment forecast in the May Budget resulting in a further deterioration in the government's financial position," Mr Hogan said.

ANZ has forecast the jobless rate to rise to six per cent in 2009.

The Australian Bureau of Statistics releases the labour force report for December at 1130 AEDT on Thursday.

The market was expecting total employment to decline by 20,000 and the unemployment rate to rise 0.1 percentage points to 4.5 per cent

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2008-12-13. Christmas Holiday Schedules:

Christmas Holiday Schedules:

Last Acceptance of Remittance order via Door to Door and Cebuana Lhuiller:

Provincial Deliveries - 17 Dec. 2008
Metro Manila and Immediate to MM - 22 Dec. 2008

Pesoepadala.com Philippine Office will be CLOSED from 24 Dec. 2008 to 04 Jan. 2009

Pesoepadala.Com resumes operation on 05 Jan. 2009

Last Acceptance of bank to bank and pinoy money card -22 December 2008.

Emergency Remittance on the 23 December till 4th of Jan 2009 will only be by PINOY MONEY CARD... for a max of AUD500 per transaction.

A BLESSED CHRISTMAS AND PROSPEROUS NEW YEAR TO ALLOUR VALUED CLIENTS

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2008-11-29. Public Holiday 01 Dec 2008

Announcement:

30 Nov. 2008 will be Bonifacio Day, it is a Legal Non-Working Holiday....

Since this legal holiday falls on Sunday, the following day which is Monday is automatically a Non-Working holiday.

Pesoepadala. Com Philippine office will be CLOSED on 01 Dec. 2008 Monday...

Remittances will be processed the next working day

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2008-11-27. URGENT Pinoy Money Card Remitters!

Dear Valued Clients,

Please be informed that due to our central monetary authority (Bangko Sentral ng Pilipinas) AMLA Requirement, we are requiring you to please email to to customerservice@pesoepadala.com the scanned copies of the IDentification (e.g., passport with photo) of all remitters who ordered/availed the Pinoy Money Card.

We appreciate prompt reply to this requirement to avoid delays of remittances

Thanks

From the Management of Pesoepadala.Com

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2008-11-19. HK shares seen rebounding after sharp sell-off

HONG KONG, Nov 19 (Reuters) - Hong Kong shares are expected
to rebound on Wednesday after Tuesday's sell-off, with Chinese
financial stocks clawing back from recent steep losses. "Yesterday's sell-off was mainly triggered by weakness in
the mainland markets. Today we should see the China markets
stabilise and support a small rally in Hong Kong," said Conita
Hung, head of equity markets with Delta Asia Financial Group. Hung expects the benchmark Hang Seng Index .HSI to crawl
back to 13,300 after Tuesday's 4.5 percent loss, which took the
index to 12,915.89. But shares in global lender HSBC Holdings (0005.HK: Quote, Profile, Research, Stock Buzz), which
recently saw its target price cut by Goldman Sachs, may not
participate fully in Wednesday's rebound, limiting gains on the
main index, brokers said. The stock closed Tuesday at HK$77.59, above its new target
price of HK$77 set by the U.S. investment bank.

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2008-11-05. GLOBAL MARKETS-Shares gain as Obama wins U.S. presidency

Asian shares hit 3-week high as new U.S. president elected

* Dollar recovers after steep slide in prior session

* European shares set to open slightly lower

* Oil falls on profit-taking after previous day rally (Repeats to additional subscribers with no change to text) (Updates with European outlook, latest prices)

By Rafael Nam

HONG KONG, Nov 5 (Reuters) - Asian shares hit a three-week high and the dollar extended gains as Barack Obama became the next U.S. president, ending uncertainty about who will lead the world's largest economy in the midst of great financial peril.

But Asian stocks pared gains and European shares were set to open slightly lower, with analysts saying a victory for Obama had been largely priced in after recent rises and concerns about the health of the global economy still paramount.

U.S. Treasuries fell as investors became bolder in taking risk, but oil succumbed to profit-taking after signs of global production cuts had sent crude prices up 10 percent on Tuesday. Gold fell more than 1 percent on the firmer dollar.

The new Obama administration, which takes office in January, will face the world's worst financial crisis since the Great Depression, and a potentially steep slowdown in global growth that has pounded markets from Tokyo to Frankfurt to New York.

"The market was putting in an Obama bounce earlier today, and we are seeing a continuation of that rally around the world," said Peter Kenny, managing director at Knight Equity Markets in New Jersey.

"Clearly the market was anticipating a fairly substantial referendum on change and an Obama presidency and a different path. The market called it and the market was right," he said.

But some also urged caution despite unprecedented measures to rescue banks across the world, aggressive rate cuts by central banks, and the improvements in credit markets that have in the last week given global markets a respite from a thrashing.

"The knee-jerk complacency rally in Asia to an Obama win is likely creating an opportunity to sell," said Kirby Daley, a senior strategist for Newedge Group in Hong Kong.

"The bottom line is economic fundamentals in the U.S. are deteriorating faster than the market can keep up with. And there is very little an Obama administration can do to shield Asia from the effects of this downturn."

The MSCI index of Asian stocks outside Japan <.MIAPJ0000PUS> rose for a seventh consecutive session on Wednesday, and was up 2.5 percent gain as of 0700 GMT, after earlier hitting the highest since Oct. 16.

The gains came after U.S. stocks on Tuesday enjoyed their biggest election day rally ever.

Tokyo's Nikkei (.N225
NIKKEI 225 INDEX5 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
9521.24 +406.64 +4.46%

* Australian indices
* International indices

.N225 , 9521.24, +406.64, +4.46%) rose 4.5 percent, led by exporters such as Honda Motor Co <7267.T> that were bolstered by a softer yen, while energy-linked firms such as Mitsubishi Corp <8058.T> gained on the overnight oil price rally.

Markets in Hong Kong (.HSI
HANG SENG INDEX5 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
14840.16 +455.82 +3.17%

* Australian indices
* International indices

.HSI , 14840.16, +455.82, +3.17%), Singapore <.FTSTI> and Shanghai <.SSEC> rose more than 3 percent, while stocks in Australia (.AXJO
SandP/ASX 2005 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
4336.6 +121.5 +2.9%

* Australian indices
* International indices

.AXJO , 4336.6, +121.5, +2.9%) and South Korea <.KS11> gained over 2 percent.

But shares in Taiwan (.TWII
TAIWAN WEIGHTED5 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
4978.26 -14.37 -0.29%

* Australian indices
* International indices

.TWII , 4978.26, -14.37, -0.29%) and India <.SSEC> declined.

DOLLAR ADVANCES

In a sign that investors may be more willing to add risk, U.S. Treasury prices fell after Obama's win. The 2-year note's price traded down 3/32 for a yield of 1.44 percent.

The dollar advanced following Obama's election, recovering some of the prior day's losses that saw the currency suffer its biggest one-day slide in 13 years as investors went searching for higher yielding currencies.

"(Obama's win) is arguably likely to prove more positive for foreign markets given the perception that he will be stronger in terms of dealing with U.S. economic problems, is seen more favourably by foreigners generally, and is less likely to follow the policies of President Bush," Calyon said in a report.

The dollar rose 0.8 percent against a basket of major currencies to 85.268 <.DXY> after falling around 2.5 percent on Tuesday for its biggest one-day drop in 13 years.

The euro slid 1.0 percent to $1.2855 on trading platform EBS.

The dollar dipped 0.2 percent against the yen to 99.50 yen . Traders said dollar selling by Japanese exporters and profit-taking supported the yen.

Oil remained lower after the U.S. presidential election, with crude down $1.50 to $69.05 a barrel as investors took profits after a spike on Tuesday following signs that Saudi Arabia and other OPEC members had made promised cuts in crude production.

Other commodities also fell. Gold was trading at $750.75 an ounce, down $11.20 from its notional New York close on Tuesday when it had rallied around 5 percent on the back of a dollar slide. (Editing by Dhara Ranasinghe)

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2008-11-05. GLOBAL MARKETS-Shares gain as Obama wins U.S. presidency

Asian shares hit 3-week high as new U.S. president elected

* Dollar recovers after steep slide in prior session

* European shares set to open slightly lower

* Oil falls on profit-taking after previous day rally (Repeats to additional subscribers with no change to text) (Updates with European outlook, latest prices)

By Rafael Nam

HONG KONG, Nov 5 (Reuters) - Asian shares hit a three-week high and the dollar extended gains as Barack Obama became the next U.S. president, ending uncertainty about who will lead the world's largest economy in the midst of great financial peril.

But Asian stocks pared gains and European shares were set to open slightly lower, with analysts saying a victory for Obama had been largely priced in after recent rises and concerns about the health of the global economy still paramount.

U.S. Treasuries fell as investors became bolder in taking risk, but oil succumbed to profit-taking after signs of global production cuts had sent crude prices up 10 percent on Tuesday. Gold fell more than 1 percent on the firmer dollar.

The new Obama administration, which takes office in January, will face the world's worst financial crisis since the Great Depression, and a potentially steep slowdown in global growth that has pounded markets from Tokyo to Frankfurt to New York.

"The market was putting in an Obama bounce earlier today, and we are seeing a continuation of that rally around the world," said Peter Kenny, managing director at Knight Equity Markets in New Jersey.

"Clearly the market was anticipating a fairly substantial referendum on change and an Obama presidency and a different path. The market called it and the market was right," he said.

But some also urged caution despite unprecedented measures to rescue banks across the world, aggressive rate cuts by central banks, and the improvements in credit markets that have in the last week given global markets a respite from a thrashing.

"The knee-jerk complacency rally in Asia to an Obama win is likely creating an opportunity to sell," said Kirby Daley, a senior strategist for Newedge Group in Hong Kong.

"The bottom line is economic fundamentals in the U.S. are deteriorating faster than the market can keep up with. And there is very little an Obama administration can do to shield Asia from the effects of this downturn."

The MSCI index of Asian stocks outside Japan <.MIAPJ0000PUS> rose for a seventh consecutive session on Wednesday, and was up 2.5 percent gain as of 0700 GMT, after earlier hitting the highest since Oct. 16.

The gains came after U.S. stocks on Tuesday enjoyed their biggest election day rally ever.

Tokyo's Nikkei (.N225
NIKKEI 225 INDEX5 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
9521.24 +406.64 +4.46%

* Australian indices
* International indices

.N225 , 9521.24, +406.64, +4.46%) rose 4.5 percent, led by exporters such as Honda Motor Co <7267.T> that were bolstered by a softer yen, while energy-linked firms such as Mitsubishi Corp <8058.T> gained on the overnight oil price rally.

Markets in Hong Kong (.HSI
HANG SENG INDEX5 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
14840.16 +455.82 +3.17%

* Australian indices
* International indices

.HSI , 14840.16, +455.82, +3.17%), Singapore <.FTSTI> and Shanghai <.SSEC> rose more than 3 percent, while stocks in Australia (.AXJO
SandP/ASX 2005 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
4336.6 +121.5 +2.9%

* Australian indices
* International indices

.AXJO , 4336.6, +121.5, +2.9%) and South Korea <.KS11> gained over 2 percent.

But shares in Taiwan (.TWII
TAIWAN WEIGHTED5 November,2008
05/11/2008 22:32 Sydney, Australia.
Value Change % Change
4978.26 -14.37 -0.29%

* Australian indices
* International indices

.TWII , 4978.26, -14.37, -0.29%) and India <.SSEC> declined.

DOLLAR ADVANCES

In a sign that investors may be more willing to add risk, U.S. Treasury prices fell after Obama's win. The 2-year note's price traded down 3/32 for a yield of 1.44 percent.

The dollar advanced following Obama's election, recovering some of the prior day's losses that saw the currency suffer its biggest one-day slide in 13 years as investors went searching for higher yielding currencies.

"(Obama's win) is arguably likely to prove more positive for foreign markets given the perception that he will be stronger in terms of dealing with U.S. economic problems, is seen more favourably by foreigners generally, and is less likely to follow the policies of President Bush," Calyon said in a report.

The dollar rose 0.8 percent against a basket of major currencies to 85.268 <.DXY> after falling around 2.5 percent on Tuesday for its biggest one-day drop in 13 years.

The euro slid 1.0 percent to $1.2855 on trading platform EBS.

The dollar dipped 0.2 percent against the yen to 99.50 yen . Traders said dollar selling by Japanese exporters and profit-taking supported the yen.

Oil remained lower after the U.S. presidential election, with crude down $1.50 to $69.05 a barrel as investors took profits after a spike on Tuesday following signs that Saudi Arabia and other OPEC members had made promised cuts in crude production.

Other commodities also fell. Gold was trading at $750.75 an ounce, down $11.20 from its notional New York close on Tuesday when it had rallied around 5 percent on the back of a dollar slide. (Editing by Dhara Ranasinghe)

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2008-11-05. European stocks drop, Asians rise on Obama's US vote triumph

LONDON (AFP) - European stock markets endured heavy falls in early trading on Wednesday while Asian shares closed sharply higher after Democrat Barack Obama was elected US president.

About 75 minutes after European trading opened, the London market was down 2.60 percent, Paris shed 2.57 percent and Frankfurt lost 1.73. Madrid dropped 1.98 percent and Zurich dived 2.41 percent.

"There is an element of 'buy the rumour, sell the news' that is driving some profit-taking to kick in," said Martin Slaney, head of derivatives at financial spread betting group GFT in London.

Earlier the Tokyo stock market ended the day up 4.46 percent, Hong Kong jumped 3.2 percent, Seoul gained 2.4 percent and Sydney won 2.9 percent.

"The (Seoul) market rose sharply thanks to an overnight Wall Street rally and a continuing buying spree by foreign investors on hopes that the next American leader would act to boost the sluggish US economy," Goodmorning Shinhan Securities Kim Jung-Hyun told Yonhap news agency.

Elsewhere, Shanghai closed up 3.16 percent while Taiwan share prices closed down 0.29 percent as investors pocketed recent gains, dealers said.

Wall Street was to reopen at 1430 GMT. US stocks had staged a powerful rally on Tuesday as Americans voted for a new president. The Dow Jones Industrial Average surged 3.28 percent, the tech-heavy Nasdaq added 3.12 percent and the Standard and Poor's 500 index shot up 4.08 percent.

World leaders hailed Obama's historic triumph but there were also calls for the global superpower to change the way it does business.

Celebrations erupted in capitals around the world. A national holiday was declared in Kenya -- where Obama's father was born -- to welcome the first black US president.

European Commission president Jose Manuel Barroso called for the election to usher in a "new deal" between the United States and the rest of the world to tackle the global financial crisis and other troubles.

"This is a time for a renewed commitment between Europe and the United States of America," Barroso said in a statement. "We need to change the current crisis into a new opportunity. We need a new deal for a new world."

Chancellor Angela Merkel's cabinet was on Wednesday due to approve a stimulus package aimed at helping Europe's biggest economy and the world's top exporter avoid the worst effects of a sharp global slowdown.

The German economy, which accounts for a third of eurozone activity, is widely expected to enter a serious slowdown and may already be in a technical recession if, as expected, output fell for the second straight quarter in the July to September period.

Investors across Europe were meanwhile gearing up for further cuts to interest rates on Thursday. The Bank of England was widely expected to cut its key lending rate by at least half a percentage point as recession looms in Britain amid a global financial crisis.

Some economists are even forecasting the BoE to follow up last month's emergency half-point reduction to 4.50 percent with a cut of one percent this time around.

Since the central bank's Monetary Policy Committee won independence from the government in 1997, it has never reduced British borrowing costs by more than 50 basis points.

The European Central Bank (ECB) is also set to cut its main lending rate sharply at a meeting on Thursday as inflation is falling fast in the eurozone.

Economists' consensus is for a cut of half a percentage point to 3.25 percent. Late last month, the US Federal Reserve slashed its key lending rate by a half point to match a historic low of 1.0 percent.

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2008-10-27. Australian Dollar dives as investors flee to greenback

The Australian dollar is trading near Friday's closing price of 61.7 US cents this morning after suffering its biggest sell-off since it was floated in 1983 over the weekend.

On Friday the currency hit a five-year low against the greenback of just over 60.5 US cents.

CommSec analyst Juliana Roadley says the dollar could fall below 60 US cents.

"Here at CBA we are looking that it might move below 60 but moving into the new year, we feel it will stabilise around these levels at the moment," she said.

"There is a lot more water to go under the bridge before we possibly see stability coming back into the markets.

Ms Roadley says the dollar is being sold off as investors turn to stronger currencies.

"We're seeing alot of safety coming through in the US dollar and the yen. And unfortunately there's a big switch out of the Aussie dollar and into the yen as a lot of Asian investors decide to take their cash back home," she said.

The local currency has fallen by almost 40 per cent since it reached a 25-year high of around 98.5 US cents in July.

At around 8:30 AEDT, the dollar was buying around 61.4 US cents and about 57.7 Japanese yen.

In futures trade, the Share Price Index 200 has fallen by 1 per cent or 37-points to 3,840.

Source: ABC

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2008-10-21. Transaction Using Credit Card

Please be advised that Pesoepadala.com.Com is designed for money remittance to beneficiaries in the Philippines through bank-to-bank transfers, pick up in Cebuana Lhuiller , credit to debit cards ; remittance orders originating from the Philippines will not be honored, in compliance with Pesoepadala.Com policy. For first time Pesoepadala.Com users based outside of Australia and making use of Credit Card as mode of payment, please submit an authorization letter, together with a copy of your credit card and a government issued photo ID, to Pesoepadala.com – via fax at our Sydney office fax:61-2-94755191 For orders placed during weekends for bank to bank credit , expect your money to be deposited on the next banking day. *For security purposes, Pesoepadala.com may contact your recipients to ask for details to validate your transaction. The dollar equivalent posted is an approximate conversion based on the latest available USD-PHP exchange rate. Pesoepadala.Com.com charges in Australian Dollar. It is your credit card that bills in a currency other than Australian Dollars. Your actual charge will be determined by the exchange rate used by your credit card company.

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2008-10-18. BE A PESOEPADALA. COM AGENT

BE a PESOEPADALA. COM Agent If you own or operate a business and would like to: Generate commission income Improve your cash flow immediately Reach a growing new market of customers Improve customer loyalty Increase customer traffic Receive promotional support For more information on becoming a PESOEPADALA.COM AGENT contact us: ph: In Sydney 02-80049479 In Melbourne 03-90188298 In Brisbane 07-31030771 In Perth 08-94678505 Contact Us Worldwide USA/Canada Toll Free 1-888-961-4456 New Zealand - Auckland +64-99250383 United Kingdom +44-845-8678108 Philippines - Toll Free 1-800-1-116-0907 email:nswoffice@pesoepadala.com

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2008-10-09. CUT OFF TIME FOR SAME DAY CREDIT REMITTANCES

Please be advised that effective immediately SAME DAY CREDIT remittance cut off will be strictly adhered: 12:00 PM SYDNEY TIME: payment should be credited to PESOEPADALA bank accounts for us to complete your transaction. TIPs: for emergency cases we suggest do a direct deposit to the bank instead of internet transfer and send copy of deposit slip to be included in our list for same day credit . or avail of PINOY MONEY CARD for few hours or real time credit of your remittances

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2008-07-28. Cebuana Lhuiller ( Pera Padala) Service is now back

Dear All

Please be advised that Cebuana Lhuiller ( Pera Padala) service through partnership with Reliable Remittance Corporation (RRPC) is now back

just note to wait for 3 to 4 hours after issuance of pick up reference prior to going to the Cebuan pick up branch..

Thanks for your continued support

from your friends@pesoepadala.com

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