The Daily Business Digest

There has been a crash of light weight aircraft which ended up in the slum killing many people. The crash which the aircraft landed near Manila’s international airport and the incident was on Saturday. About three people were unaccounted for and about 10 people were injured after the crash had occurred.The injured was after twin engine,four seater plane crashed just immediately just after take off.

The details of the number of death and the injured and the crash of the aircraft was informed by inspector Enrique Sy. There has been 13 bodies which have been recovered till now and have been burned in the crash site itself. The identification of the victims have become very difficult as they have been burned completely at the wreckage. The Paranaque city mayor Florencio Bernabe stated that hundreds of residents have been left homeless as fire caused.

There was hundreds of shanty homes which were being destroyed and has been a part of three storey building. The head of the civil aviation authority of Philippines Ramon Gutierrez has spoken about the plane crash. According to Ramon the pilot had been asked to make an emergency landing back at Manila just shortly after the take off.

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On Saturday Greece predicted the future budget deficit for the coming year 2012 will be raising sharply. The sharp deficit cut will be helped further by the bond which has been written down and further no austerity measures needed. The austerity measures for the further budget deficit was no0t necessarily and is already a hole for this financiers of this year.
The deficit will be shrinks and is expected to be about 9% of the gross domestic product for present year informed the finance minster. The fiance minster Evangelos Venizelos stated the details when submitting the budget for the coming year 2012. For the coming year 2012 the GDP will be 5.4%which is lower than the previous targets while the figure factors are in write-downs. The value of Greek bonds which have been kept by the private creditors as part of the international bailout for Greece.
If the bailout would have not been the deficit would have still shrunk to about 6.7%of the GDP for the next year. The bailout which was negotiated will help Greece from Bankruptcy and possible exit from Euro itself. The budget calculations have come during the international conditions which are rigid at present and has been focused on euro zone. The minster gave the details and further speaking about the rising borrowing rates in countries like Italy.

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