Manila - The Philippines' year-on-year inflation rate rose to 12.5 per cent in August, near a 17-year-high, despite the easing of world fuel prices, the government said Friday.

The National Statistics Office (NSO) said the August index was the highest since December 1991, when the inflation rate hit 13.2 per cent.

The figure was higher than July's 12.3 per cent and the 2.4 per cent in August 2007.

Berlin  - German key factory orders reported their eight consecutive monthly fall in July, data released Thursday showed, slumping by a bigger-than-forecast 1.7 per cent and consequently adding to signs of slackening growth in Europe's biggest economy.

Analysts had forecast that the figures, which were released by the Ministry for Economics and Technology, would show price-and-seasonally industrial orders posting a modest month-on-month rise of 0.4 per cent in July.

"The fall in orders recorded over the past months continues," said the ministry releasing the figures, adding that weak industrial production will likely continue in the coming months.

Singapore  - Two Singapore sovereign wealth funds were ranked sixth and seventh in the world for good governance and transparency by a US-based economic think tank, a newspaper reported Thursday.

Tamasek Holdings was sixth, followed by the Singapore Government Investment Corp, The Straits Times said.

The rankings of 100 government investment funds by the Peterson Institute for International Economics put Norway's Pension Fund-Global in the top position.

The rankings were released at a summit this week of global sovereign wealth funds and the International Monetary Fund (IMF) in Santiago, Chile.

Paris - France's unemployment rate remained stable at 7.2 per cent in the second quarter of 2008, the government's statistical office INSEE reported on Thursday.

A little more than 2 million men and women of working age remained unemployed on average in the quarter, which was about the same number as in the first quarter of the year.

The report generally surprised analysts, who had expected a small rise in joblessness in the period due to the slumping economy.

According to the Organization of Economic Cooperation and Development (OECD), France's GDP is expected to grow by only 1 per cent this year, well below previous government forecasts.

Frankfurt - The European Central Bank (ECB) is expected to keep rates on hold Thursday despite signs that inflationary pressures are easing and fears are growing that large parts of Europe's economy are edging towards recession.

The Frankfurt-based ECB raised its benchmark refinancing rate by 25 basis points to 4.25 per cent in July to ward off the threat posed by resurgent inflation.