[Blueboard] Newsbriefs 29 July Afternoon

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Fri Jul 29 16:44:49 PHT 2005


*Newsbriefs 29 July Afternoon
Simbahang Lingkod ng Bayan
 *

*Inflation eases to 8.2 percent in Q2 *(abs-cbnnews.com)

Consumer prices eased to 8.2 percent in the second quarter of 2005 from 
8.4 percent in the previous quarter due to the slowdown in food 
inflation amid the continued rise in oil prices and other non-food 
commodities, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

Of the 8.2 percent average inflation for the second quarter of 2005, 3.2 
percentage points were attributed to food, 1.4 percentage points to 
fuel, light and water and 2.1 percentage points to services, of which 
1.6 percentage points were accounted for by transportation and 
communication.

The BSP said that cost-push factors, particularly the volatile oil 
prices and the effects of El Niño weather disturbance, continued to 
drive price pressures.

The BSP added that the impending implementation of the expanded value 
added tax law is also expected to raise inflation in the short-run.

*Minority lawmakers score weak impeach rules* (abs-cbnnews..com)

Discussions on the formulation of new rules of impeachment continue to 
heat up as minority lawmakers on Friday accused the majority of pushing 
for rules that are favorable to President Arroyo.

Pateros-Taguig Rep. Alan Peter Cayetano said administration lawmakers 
are pushing for the deletion of a provision in the rules that allows the 
presentation of evidence during the determination of "sufficiency of 
substance" of the impeachment complaint.

Cayetano, a former administration ally, said the rules of impeachment of 
the 11th and 12th Congress allowed the presentation of evidence by the 
complainant during the determination of "sufficiency in substance" in 
hearings of the House committee on justice.

"They are now removing the right of the complainant to present evidence 
to back the complaint."

*Palace eyes search body for COMELEC appointees*  (abs-cbnnews.com)

President Arroyo on Friday announced that she would create a search 
committee to help choose commissioners appointed to the Commission on 
Elections (COMELEC) and safeguard the credibility of the poll body.

The committee will recommend to Malacañan names to be appointed to the 
COMELEC, Mrs. Arroyo said in a radio interview Friday morning.

*Arroyo can finish term as transition PM--Abueva* (inq7.net) 

PRESIDENT Gloria Macapagal-Arroyo could serve out her term until 2010 as 
the first prime minister and head of state of the new 
federal-parliamentary government being pushed by the Citizen's Movement 
for a Federal Philippines (CMFP).

In a book "Charter Change for Good Governance" authored by former 
University of the Philippines (UP) president Jose Abueva, Arroyo, to be 
assisted by Vice President Noli de Castro, would stay in power during 
the transition period to the proposed federal-parliamentary system.

*Shares close flat* (XFN-Asia)

SHARE prices closed flat.  The composite index was up just 0.43 points 
at a five-week high of 2,000 25 on volume of 417.2 million shares valued 
at 1.02 billion pesos. It moved between 1, 993.80 and 2,007.47.

The broader all-shares index rose 0.01 points to 1,201.32.

Gainers led losers 51 to 33, with 45 stocks unchanged.

Analysts said the market may see another dull session on Monday, before 
a new batch of second-quarter corporate results comes in.

"The market is split between the bears and the bulls. Despite 
expectations of a generally healthy set of corporate results for the 
second quarter, investors are still taking a cautious stand given the 
country's political problems," said Mark Alan Canizares, an analyst at 
Citiseconline.com.

*(1 dollar = 56.16 pesos) *

 

 

 

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