[Blueboard] Newsbriefs 14 July Afternoon
Simbahang Lingkod ng Bayan
slb at admu.edu.ph
Thu Jul 14 17:04:34 PHT 2005
*Newsbrief **July 14, 2005** Afternoon
Simbahang Lingkod ng Bayan*
* Arroyo appoints Neri budget secretary (abs-cbnnews.com)**
"President Arroyo appointed her economic planning secretary Romulo Neri
as budget secretary on Thursday, as she began rebuilding her economic
team after mass resignations."
"Neri replaces Emilia Boncodin, who resigned along with a group of other
ministers last week and then called on Arroyo to quit over allegations
of electoral fraud that have sparked the worst crisis in her four-year
*World oil prices fall below $60 as **US** storm concerns ease* *(inq7.net)*
"SINGAPORE -- Oil prices dropped below 60 dollars a barrel in Asian
trade Thursday as concerns eased over US production in the Gulf of
Mexico being disrupted by the latest tropical storm, dealers said."
*Arroyo survived from Wednesday's Big Rally (inq7.net)**
"PRESIDENT Gloria Macapagal-Arroyo has weathered the storm after a
tumultuous week which began with damaging cabinet defections and ended
with a mass rally calling for her resignation over a political scandal,
analysts said Thursday."
"Various opposition groups mustered their forces to bring an estimated
30,000-40,000 onto the streets of Manila's Makati financial district on
Wednesday--but this was short of the 50,000 they had originally promised."
"Government supporters were organizing a pro-Arroyo rally of their own
on Saturday even as security forces braced for an even bigger
anti-Arroyo protest when she makes her annual speech to Congress on July
*Favila appointed head of DTI (inq7.net)*
"PETER Favila has been appointed head of the Department of Trade and
Industry while National Economic and Development Authority head Romulo
Neri has been appointed budget chief, President Gloria Macapagal-Arroyo
"Augusto "Tito" Santos, Neri's deputy, will replace him at NEDA, Arroyo
added in an address aired on television. Zamzamin Ampatuan has also
been appointed head of the National Anti-Poverty Commission."
*Shares close higher after peaceful anti-Arroyo rally (inq7.net)**
"Astro del Castillo, managing director at First Grade Holdings, said
some investors might have started taking positions ahead of the second
quarter earnings season."
"We can expect a good set of corporate results for the second quarter,
which I believe was still immune to the political crisis," he said.
"But if this crisis drags on, it will definitely create a major dent on
"Analysts said investors would remain cautious given concerns stemming
from the international rating agencies' negative outlook on the
country's credit ratings and the delayed implementation of the new
value-added tax (VAT) law."
"Newly appointed Finance Secretary Margarito Teves said they would look
at other options to boost government revenues, if the government fails
to convince the Supreme Court to immediately lift the suspension order
on VAT. He said Wednesday he is eyeing the participation of city,
provincial and municipal treasurers to augment the government's campaign
to improve revenue collection."
"We will look for other options to cover the 4.5-5.0 billion pesos in
monthly revenue losses (resulting from the VAT suspension)," Teves said
in a television interview ahead of Thursday's court hearing on the
legality of the tax measure."
*Lawmakers continue to bicker over Charter change (abs-cbnnews.com)*
"The proposed Charter change will be on top of the priority agenda of
the House of Representatives when it resumes session on July 25, the
majority leader, Prospero Nograles of Davao City, said Wednesday."
"Nograles, chair of the House Committee on Rules, believes that
"amending the 1987 Constitution will face a smooth sailing now that
President Arroyo and the country's major political parties are
supporting constitutional reforms through a constituent assembly."
*Pinoys in **San Francisco** rally vs Arroyo (abs-cbnews.com)**
"Filipino-Americans in San Francisco, California, on Tuesday (Wednesday
in Manila) staged a protest rally against President Arroyo, ABS-CBN
North America News Bureau reported. Thirty (30) activists belonging to
the US chapter of the left-wing Bayan Muna protested outside the
Philippine consulate at about the same time that a similar demonstration
was being held in Makati Wednesday afternoon."
*Peso - Dollar Exchange Rate *closed today at *Php 56.124* per dollar
for July 14, 2005, 4:00 pm. *(bsp.gov.ph)* Phisix earned *25 points*
higher, ends at *1,879.46 (ANC)*
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