[Blueboard] Newsbriefs 28 July Afternoon

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Thu Jul 28 16:47:11 PHT 2005

*Newsbriefs 28 July Afternoon
Simbahang Lingkod ng Bayan*

*Palace dismisses allegations that Arroyo witnessed payoffs** *(inq7.net)*

MALACAÑANG has dismissed fresh allegations that President Gloria 
Macapagal Arroyo personally witnessed the distribution of illegal 
gambling payoffs to regional directors of the Commission on Elections 

"These new allegations are a desperate attempt to gain media mileage as 
the Senate is already on the verge of ending the inquiry," Press 
Secretary Ignacio Bunye said in a statement Thursday.

"It's time to move on and address the real business of economic and 
political reforms," he added.

*House may decide on impeachment rules Monday**  *( abs-cbnnews.com)

The House committee on rules may conclude its hearings on the 
formulation of impeachment rules on Monday as an officer of the panel 
said they will oppose any move by the minority for a "shortcut" of the 

In an interview over ANC, House rules committee vice-chairman Rep. 
Arthur Defensor said his committee hopes to approve the rules on 
impeachment on Monday, unless the minority decides to prolong debates on 
its provisions.

Defensor said after the formulation of the rules of impeachment, it can 
be voted on in plenary and upon approval, can be used by the House 
committee on justice to act on the impeachment complaint filed against 
President Arroyo. As soon as the rules are approved, the justice 
committee will start impeachment hearings by the first week of August.

*Impeach rules delay also stymies House justice committee* (inq7.net) 

The impeachment move against President Gloria Macapagal-Arroyo has lost 
two days in the House justice committee due to the delay in the approval 
of the impeachment rules.

Justice committee chairman Simeon Datumanong of Maguindanao told 
INQ7.net on Thursday that the 60-session-day period for the committee to 
hear the complaint started with its referral to the committee last Monday.

"But I think we would not be running out of time. We still have 
sufficient time to conduct the proceedings," Datumanong said in a 
telephone interview.  He said that in the absence of the rules of 
impeachment , the committee could not act on the complaint.

*Dept. of Finance: P10B lost due to E-VAT freeze* (abs-cbnnews.com)

The government lost P10 billion in potential revenues because of the 
one-month delay caused by the Supreme Court's temporary restraining 
order (TRO) in the implementation of the expanded value added tax 
(E-VAT), Finance Secretary Margarito Teves said Thursday.

Teves said the delay has prompted them to pursue alternative fiscal 
reform measures especially after the high court announced that its 
decision on the E-VAT case would be delayed further by ten more days.

"The longer the delay the stricter the measures that would be taken," 
said the finance chief.

*Nearly 1 in 2 say Arroyo 'unacceptable' person to lead RP *(inq7.net) 

Nearly one in two Filipinos (47 percent) consider Arroyo as being an 
"unacceptable" person to lead the country now while one in three believe 
her resignation and impeachment to pave the way for snap elections is 
the "best" way out of the political crisis, according to an independent 
survey released Thursday.

While only 17 percent of the 1,200 respondents nationwide favor the 
constitutional succession of Vice President Noli de Castro once Arroyo 
resigns or is impeached, 26 percent believe the ex-television 
broadcaster is the "best person to lead the country now," Pulse Asia 
Inc. said in its Ulat ng Bayan (Report of the Nation) survey conducted 
from July 2 to 14.

The study covered the period after Arroyo apologized for improperly 
calling up an elections officer during the canvass and after influential 
personalities and groups joined calls for her resignation. It had a 
margin of error of +/-3 percent at a confidence level of 95 percent.

*Shares close higher on upbeat Q2 earnings outlooks *(XFN-Asia)

(UPDATE) SHARE prices closed higher for the third straight day on 
expectations that more companies will report solid second-quarter 
earnings in the days ahead, dealers said.

Dealers added that investors also took advantage of trading 
opportunities amid the quieter political environment.

The composite index closed up 25.28 points or 1.28 percent at 1,999.82, 
on volume of 502.6 million shares worth 1.74 billion pesos. It moved 
between 1,974.54 and 2,003.40.

The all-shares index rose 14.88 points to 1,201.31. Gainers led losers 
73 to 11, with 31 stocks unchanged.

"Money is clearly pouring into equities on expectations of better 
earnings results and the economy's resilience in the second quarter and 
moving forward," said Lawrence de Leon, an analyst at Accord Capital 

"And it also looks like business-as-usual for now on the political front 
despite the impeachment complaint against President Gloria Arroyo."

Peso-Dollar Rate *Php 56.147 *(www.bsp.gov.ph/statistics/sefi/day99.htm* ) *



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