[Blueboard] Newsbriefs 18 August Afternoon

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Thu Aug 18 16:27:40 PHT 2005

Newsbriefs 18 August Afternoon

Simbahang Lingkod ng Bayan


Tabayoyong eyed as poll protest witness (abs-cbnnews.com)

"Former National Bureau of Investigation handwriting expert Segundo Tabayoyong is one of the potential witness in the electoral protest of former senator Loren Legarda, lawyer Sixto Brillantes said Thursday.  He said Legarda had hired Tabayoyong to check possible tampering of election returns (ERs) used in the presidential and vice-presidential elections in 2004. 

At least 40 boxes of election returns were seized by a team of police and military agents in Tabayoyong's home in San Mateo, Rizal, Tuesday night. Also found were samples of "Jose Pidal" signatures, ammunition, several firearms and compact discs containing photographs of prominent politicians and campaign posters.

Officials of the Commission on Election (Comelec) led by Southern Tagalog regional director Juanito Icaro confirmed the seized election materials were authentic. 

Minority lawmakers, who commissioned Tabayoyong to examine the poll returns for the impeachment complaint against Mrs. Arroyo, demanded that the CIDG explain why it conducted the raid. 

He said there was a pattern of tampering on the margin of votes between Mrs. Arroyo and Fernando Poe Jr. in the presidential race, and de Castro and Legarda in the vice-presidential race.

He added that he would divulge all he knew about the ERs but not in a press conference." 

Palace: Arroyo can prove innocence even without Garcillano (inq7.net)

"EVEN without former election commissioner Virgilio Garcillano, President Gloria Macapagal-Arroyo can prove that she did not cheat in last year's election, a Malacañang officials said on Thursday.

Secretary to the Cabinet Ricardo Saludo said the Palace was not alarmed with the disappearance of Garcillano who, according to the Department of Foreign Affairs, flew to Singapore in July 14 and left for an unknown destination.

"Sinabi naman ng Pangulo noon pa na hindi naman siya nandaya sa halalan [The President has said before that she did not cheat in the election]," he said in a phone patch interview.

Three complaints have been lodged at the House of Representatives, which is deliberating on the impeachment complaints against Arroyo."

Gov't intensifies monitoring of commodity prices (philstar.com)

"The government has intensified its close monitoring of basic consumer commodity prices to minimize any irregular price movements and anomalous activities by establishments and individuals exploiting the obtaining situation. 

Trade and Industry Secretary Peter Favila said the country has to brace for higher prices due to the effects of continuous increase of oil prices in the world market and once the Expanded Value-Added Tax Law, currently slapped with a temporary restraining order, is implemented. 

"So far, both consumers and business enterprises are cooperating with the DTI," Favila said in a media briefing Wednesday in Malacañang." 

"Drastic steps" may be needed to cope with oil prices: Arroyo (philstar.com)

"MANILA (AFP) - President Gloria Arroyo said Thursday she was ready to take "forceful and drastic steps" to meet the threat of rising oil prices, which the government said was likely to hobble economic growth. 

Economic Planning Secretary Augusto Santos said that economic growth would slow down while inflation would rise unless international oil prices went back below 60 dollars a barrel for the rest of the year. 

She said the government would need "full public understanding and cooperation," adding that "all sectors and levels of society must share the burden especially the rich who can take the most." 

Her cabinet earlier said that government and business had agreed on certain steps to boost energy efficiency and Congress would be asked to pass a law giving the government emergency powers to handle a sharp rise in oil prices. 

These emergency powers could include mandating the setting of working hours including cutting operating hours of some establishments. At its most extreme, it would even include rationing of fuel." 

Biz leaders divided on govt emergency powers (abs-cbnnews.com)

"Busines leaders are divided over the government's request to get emergency powers from Congress that will allow it to stave off effects of skyrocketing prices of world crude on the country's economy. 

Sergio Ortiz-Luis, president of the Philippine Exporters Confederation Incorporated (Philexport), said the business community is still waiting for specifics on what kind of powers are being sought by the Palace before coming up with a position on the issue." 

Shares close lower for 4th straight day on oil price worries  (XFN-Asia)

"(UPDATE) SHARE prices closed lower for the fourth straight day on worries that high crude oil prices will push inflation and interest rates higher, leading to weak corporate earnings and economic growth, dealers said. 


They said most investors opted to stay on the sidelines, awaiting the emergence of a clearer trend for oil prices, which retreated further in Asian trading this morning from last week's record above 67 dollars per barrel, but remained above 63 dollars. 


The composite index closed down 5.98 points or 0.30 percent at 1,979.12, on volume of 391.5 million shares worth 537.8 million pesos. It moved between 1,976.97 and 1,987.68. The broader all-shares index fell 2.09 points to 1,204.20. Losers beat gainers 38 to 26, with 46 stocks unchanged. 


"The market remains focused on high oil prices, which will likely hurt corporate earnings in the coming months, particularly those in the manufacturing and transport sectors," said DA Market Securities president Nestor Aguila. 


At a news conference this morning, Economic Planning Secretary Augusto Santos said the economy was likely to expand at a slower pace of 5.1-5.2 percent this year, undershooting the government's target of 5.3 percent, if crude oil prices stay between 60 and 70 dollars per barrel for the rest of the year. He sees full-year inflation in the range of 8.0-8.1 percent with oil prices at 60-70 dollars per barrel, well above the government's target of 5-6 percent, dampening domestic demand. In Asian trading hours, New York's main contract, light sweet crude for delivery in September, fell 0.02 dollars to 63.23 dollars a barrel from 63.25 dollars in the US overnight."


Peso-Dollar Exchange Rate 
Official Rate from the Philippine Dealing System


PDS Wtd Ave.  P55.916 = $1.00

Previous Close P55.900

      Volume (US$)





As of August 18, 2005 3:20 PM


Disclaimer: These are based on Philippine Dealing System rates.
Actual bank rates may vary.
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