[Blueboard] Newsbriefs 26 August Afternoon

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Fri Aug 26 16:11:03 PHT 2005

Newsbriefs 26 August Afternoon

Simbahang Lingkod ng Bayan


2 more solons sign impeachment complaint vs Arroyo (inq7.net)

"TWO more lawmakers at the House of Representatives have signed the amended impeachment complaint against President Gloria Macapagal-Arroyo, bringing its signatories to 48, but still short of the 79 votes needed to bring it to the Senate.

They are Manila Representative Rodolfo Bacani, a member of the Liberal Party (LP), and Laguna Representative Benjamin Agarao of the Laban ng Partidong Demokratiko (Fight of the Democratic Filipino, LDP).

Agarao told INQ7.net that he signed the complaint because he wanted the impeachment process to move.

"I saw the hardships of my colleagues in the minority and I was also inspired by the four administration congressmen who signed the complaint," he said in a telephone interview."

'Without 79 votes, it's over' (abs-cbnnews.com)

"Opposition lawyer Harry Roque on Friday admitted that President Arroyo's impeachment will not prosper if the minority fails to get 79 endorsements next week. 

"Without the 79, it's over. ..It will be futile because the voting [will be done along] party lines," Roque told ANC's Dateline Philippines. 

Roque said the opposition is racing to get the 79 signatures or a third of Congress by next week before the House of Representatives Committee on Justice moves to junk the amended impeachment complaint. 

At least 51 congressmen have signed the amended complaint filed by the opposition, which charges the President of bribery, betrayal of public trust and graft.

The President's lawyer Romulo Macalintal said getting the 79 votes "opens the possibility" that the President would be impeached. He added, however, that getting the endorsements does not mean that the Articles of Impeachment will be automatically transmitted to the Senate. 

"The rules state that they should have 79 votes at the time of filing. A creeping impeachment does not apply. Even with 79 votes, it could still be killed in the House plenary," Macalintal said." 

Tapes not enough to convict for libel (inq7.net)

"ANOTHER bone to chew in the "Hello, Garci'' wiretap controversy.

The Supreme Court has recently ruled that taped conversations and statements from radio will not be admissible as evidence in court unless they are authenticated by a witness who did the taping or by someone familiar with the voice being taped.

The tribunal issued the ruling in the libel case involving Cebu broadcaster Cirse Francisco "Choy'' Torralba, where it cleared Torralba of libel after the court found that the integrity of an audio tape used as the main evidence was not established by the one who did the recording.

"In his comprehensive book on evidence, our former colleague, Justice Ricardo Francisco, wrote that '[e]vidence of a message or speech by means of radio broadcast is admissible as evidence when the speaker is established either by the testimony of a witness who saw him broadcast his message or speech, or by the witness' recognition of the voice of the speaker,'' said the tribunal in its August 22 decision.

Thus, the court threw out as evidence the tape recording presented by Segundo Lim, who taped Torralba's alleged libelous statements in behalf of private complainant Manuel Hontanosas."

Subic Air owner snubs Garci probe (abs-cbnnews.com)

"Subic Air owner Pepito Alvarez on Friday failed to appear before a task force investigation hearing on the departure of former poll commissioner Virgilio Garcillano to Singapore last month. 

Alvarez was among nine officials summoned by the Department of Justice to shed light on Garcillano's alleged flight to the city-state last July 14. 

Also summoned were certain Foreign Affairs, Air Transportation, Subic Air Charter, and Customs Officials." 

Palace defends debt servicing in 2006 fiscal budget (inq7.net)

"THE PHILIPPINES stands to face severe economic sanctions if government fails to pay its debts, Malacañang has warned Thursday as a way of defending its interest payments allocation that eats up a third of the proposed 2006 budget.

"It is the responsibility of an honorable borrower to pay his debtors," Bunye said, adding that failure to do so could result to sanctions detrimental to the country's economy.

Interest payments corner 340 billion pesos, or about one-third of the 1.05-trillion-peso budget Malacañang submitted to Congress Wednesday for approval.

Bunye said the country's debts were "acquired from a chain of borrowings dating back to the past administrations."

Shares close higher on bargain-hunting (XFN-Asia)

"SHARE prices closed slightly higher as investors chased select stocks that have become cheap after the market's recent eight-day fall, but caution ahead of the Supreme Court decision on a new value-added tax (VAT) law capped gains, dealers said. 

The composite index closed up 8.88 points or 0.46 percent at 1,934.56 after trading in a tight 12-point range. Total volume turnover reached 464.7 million shares worth 799.89 million pesos. 

The main index was down 1.6 percent on the week. 

The all-shares index advanced 3.32 points to 1,175.01. 

Gainers beat losers 45 to 15, while 49 stocks were unchanged. 

Dealers said some investors have sought bargains after the main index fell to its lowest level in five weeks on Wednesday. 

Despite Friday's gains, however, they expect the market to trade within a narrow range in the coming sessions until the Supreme Court hands down a decision on a sales tax law it suspended last month."

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


PDS Wtd. Avg.  P56.096 = $1.00

Previous Close  P56.050

Open 56.080 High 56.125 Low 56.070 Close 0 Volume (US$) 210M


As of August 26, 2005 1:50 PM

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

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