TODAY'S BUSINESS HEADLINES

Philippine gov't should bankroll planned LNG terminal -- IFC exec 17-Sep-14, 6:34 PM | Darwin G. Amojelar, InterAksyon.com

Building a subway will solve congestion at MRT3, says Japanese expert 17-Sep-14, 6:11 PM | Darwin G. Amojelar, InterAksyon.com

August sales of car importers' group up 26 pct 17-Sep-14, 5:21 PM | Chelsea Cruz, InterAksyon.com

PH stock market advances for a second session 17-Sep-14, 4:48 PM | Darwin G. Amojelar, InterAksyon.com

Meralco backs bid to make permanent WESM secondary price cap 17-Sep-14, 4:23 PM | Euan Paulo C. Añonuevo, InterAksyon.com

Our hearts are with the Filipino people, IMF Managing Director says after Yolanda disaster

A wounded boy next to the ruins of his home in Tacloban City. (Erik de castro/Reuters)

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The managing director of the International Monetary Fund (IMF) has expressed her sadness after learning about the devastation wrought by typhoon Yolanda (international name: Haiyan). 

"It is with great sadness that I have heard of the extensive damage and devastating loss of life from Typhoon Haiyan in the central Philippines," Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), said in a statement. 

"On behalf of myself and my colleagues at the IMF, I would like to offer our sympathy to those affected by this natural disaster. Our thoughts are with those who have lost loved ones, crews undertaking the rescue operation, and with the people of the Philippines as they work to recover from this terrible tragedy."

Nearly 90 percent of areas in regions 7 and 8--comprising Eastern and Central Visayas--have been flattened by the supertyphoon, killing an estimated 10,000. 

The Philippines has placed Yolanda-hit areas under a state of calamity but the Senate seeks extend the coverage to a wider area to facilitate the entry of foreign aid. 

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