FRANKFURT (Reuters) – European Central Bank policymaker Luc Coene played down the recent debate about competitive currency devaluation and said there was no currency war yet. Policymakers in advanc ed countries, particularly Japan and the United States, have been acting aggressively to reflate their economies, which has the effect of weakening their currencies. "Of course you cannot ignore the consequence that the exchange rate will go down, but we are not yet there," Coene told Bloomberg in an interview. "There is no currency war yet. A ghost has been evoked here, but too early. … Compensation for Philippine dictatorship victims
MANILA, Philippines (AP) -- Almost four decades after he was arrested and tortured and his sister disappeared into a maze of Philippine police cells and military houses, playwright Bonifacio Ilagan is finally seeing his suffering officially recognized.
China COSCO eyes turnaround options, stock down sharply
HONG KONG (Reuters) – The world's largest bulk shipper, China COSCO Holdings Co Ltd , faces the risk of delisting for its Shanghai shares if it fails to turn around in 2013, after hav ing warned of a second straight year of losses. China COSCO, which posted a net loss of 10.4 billion yuan ($1.7 billion) for 2011, ranks as the world's sixth largest container ship operator, but has been battling the impact of a supply glut and weak demand that have becalmed the industry. … Marcos dictatorship victims to be compensated
MANILA, Philippines (AP) -- Philippine lawmakers are preparing to approve $246 million in compensation for thousands of people who were persecuted decades ago under dictator Ferdinand Marcos.
Monti repeats backing for Bank of Italy over Monte Paschi
ROME (Reuters) – Italian Prime Minister Mario Monti repeated on Monday his backing for the Bank of Italy and its former governor Mario Draghi over the mounting scandal surrounding the troubled Monte dei Paschi bank. "I want to confirm my full confi dence in the Bank of Italy and in those who are in charge of it and who have been in charge of it," he said during a talk show on Italy's La7 television channel. … 
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