[Blueboard] Newsbriefs 12 July Morning

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Tue Jul 12 11:13:10 PHT 2005

*Daily Newsbriefs  (morning)
12 July 2005
Simbahang Lingkod ng Bayan*

*Anti-government rallies start tomorrow (manilastandardonline)*

"Various antigovernment forces, including communists, the political 
opposition, and Church, labor and student groups will launch "Oplan: 
Alis Gloria," a well-funded series of protest actions on Wednesday to 
pressure President Gloria Macapagal Arroyo into resigning.

Participants will be egged not to go home (walang uwian) and 
politicians, actors and actresses identified with deposed President 
Joseph Estrada and the late Fernando Poe Jr. will attend the rallies.

Initially, bigwigs from the opposition camp will hold a press conference 
at a Makati hotel. They will be joined by Bishop Teodoro Bacani and 
other bishops and priests who want the President to resign."

*SC to fasttrack review of EVAT (XFN-Asia)*

"THE SUPREME Court said the new value-added tax (VAT) law, the 
implementation of which it ordered stopped, is now the court's top 
priority, and said it will decide on the law's constitutionality within 
a month.

In a statement, Ismael Khan, the Supreme Court spokesman, said the court 
is well aware of the economic anxieties concerning the early resolution 
of the case."

*Shares seen lower on credit rating outlook downgrades (XFN-Asia)*

"SHARE prices are likely to open lower after Standard & Poor's followed 
Fitch's lead in downgrading the outlook for the Philippines' credit 
ratings to negative from stable, dealers said.

Dealers said that while stocks reached oversold levels and looked 
attractive to bargain-hunters, investors would likely remain sidelined 
amid persistent economic and political uncertainties. "

*Franklin Drilon exposes North Rail irregularities (ANC)*

Senator Franklin Drilon, after leading a significant group of the 
Liberal Party to call for GMA's resignation, and after denying as "black 
propaganda" rumors of his eyeing the vice presidential post, bares 
alleged overpricing in the North Rail transaction by the government.

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