The Philippines shut financial markets along with government offices and schools in the capital and several provinces in the main island of Luzon after heavy rains caused flooding.
Central bank Governor Amando Tetangco said there will be no clearing and trading today. Philippine Stock Exchange (PSE) President Hans Sicat and Philippine Dealing & Exchange Corp. President Cesar Crisol said in separate mobile-phone messages that trading at their respective bourses is suspended. President Benigno Aquino ordered the suspension of work and classes at all levels today, Abigail Valte, a presidential spokeswoman, said in an interview on local radio station DZMM.
Heavy rains in recent days caused rivers and dams near the capital to rise, Office of Civil Defense Director Susana Cruz said. Thousands have been evacuated. Damage caused by typhoons and other calamities reached 59.2 billion pesos ($1.4 billion) in 2011, Economic Planning Secretary Arsenio Balisacan told lawmakers.
Monsoon rains will continue until tomorrow, Fernando Cada, a forecaster at the weather bureau told DZMM radio.
The government has dispatched rubber boats to rescue residents in heavily flooded areas, Civil Defense chief Benito Ramos told DZMM. In Marikina City and San Mateo town, residents were evacuated as early as last night as the Marikina river overflowed, he said.
Neck-deep floods were reported in Las Piñas and Parañaque cities and waist-deep in the Caloocan, Malabon and Navotas areas. Floods reached the second floor of some houses in Quezon City, Ramos said.
Flooding was also reported in the provinces of Laguna, Bulacan, Bataan and Pampanga, he said.
To contact the reporter on this story: Clarissa Batino in Manila at [email protected]
To contact the editor responsible for this story: Sean Collins at [email protected]
Central bank Governor Amando Tetangco said there will be no clearing and trading today. Philippine Stock Exchange (PSE) President Hans Sicat and Philippine Dealing & Exchange Corp. President Cesar Crisol said in separate mobile-phone messages that trading at their respective bourses is suspended. President Benigno Aquino ordered the suspension of work and classes at all levels today, Abigail Valte, a presidential spokeswoman, said in an interview on local radio station DZMM.
Heavy rains in recent days caused rivers and dams near the capital to rise, Office of Civil Defense Director Susana Cruz said. Thousands have been evacuated. Damage caused by typhoons and other calamities reached 59.2 billion pesos ($1.4 billion) in 2011, Economic Planning Secretary Arsenio Balisacan told lawmakers.
Monsoon rains will continue until tomorrow, Fernando Cada, a forecaster at the weather bureau told DZMM radio.
The government has dispatched rubber boats to rescue residents in heavily flooded areas, Civil Defense chief Benito Ramos told DZMM. In Marikina City and San Mateo town, residents were evacuated as early as last night as the Marikina river overflowed, he said.
Neck-deep floods were reported in Las Piñas and Parañaque cities and waist-deep in the Caloocan, Malabon and Navotas areas. Floods reached the second floor of some houses in Quezon City, Ramos said.
Flooding was also reported in the provinces of Laguna, Bulacan, Bataan and Pampanga, he said.
To contact the reporter on this story: Clarissa Batino in Manila at [email protected]
To contact the editor responsible for this story: Sean Collins at [email protected]