[Blueboard] Newsbriefs 10 January Afternoon

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Tue Jan 10 16:51:22 PHT 2006

Newsbriefs 10 January Afternoon

Simbahang Lingkod ng Bayan



Arroyo orders P500-M subsidy for medicines to poor families (inq7.net)

"PRESIDENT Gloria Macapagal-Arroyo has ordered the release of 500 million pesos so that the government can subsidize part of the cost of medicines to be sold at half their price to poor families.

The new fund represents an increase in the current 100 million-peso budget for the government's program of half- priced medicines, Arroyo said in a speech at the 66th foundation day anniversary celebration of the City of Koronadal in South Cotabato province Tuesday.

Arroyo instructed Roberto Pagdanganan, head of the government-owned Philippine International Trading Corporation (PITC), to come up with a business plan for the half-priced medicines, which would be funded by the National Development Corporation (NDC).

"This will be done because the NDC will be able to float about two billion pesos worth of bonds next month," she said.  She added that Philippine bonds had become more attractive to investors because of the improving economy.

She had also ordered the release of half a million pesos for Philhealth cards, one billion pesos for housing of soldiers and families that would be displaced by the government's transport projects, half a million pesos for farm-to-market roads, half a million pesos for cheap rice and noodles, half a million pesos for flood control projects, and half a million pesos for additional classrooms.


Palace rejects Ramos proposal for Arroyo to quit by 2007 (inq7.net)

"MALACAÑANG thumbed down a proposal by former president Fidel Ramos for incumbent Gloria Macapagal-Arroyo to step down by 2007 and said she would stay until 2010 unless a new Constitution would require her to resign.

"President Arroyo sincerely appreciates the fact that former president Ramos supports her in the full range of nation building efforts. But the President was elected to serve the country until 2010 and no one can take the mandate from her except the sovereign people through constitutionally sanctioned means," Presidential Spokesman Ignacio Bunye 
said in a statement Tuesday.

Saying that now was not the time to rock the boat, Bunye said the President was presiding over an improving economy, a strong plan for social equity, and a clear roadmap for political change.

Bunye was reacting to a statement by Ramos in which the former leader gave the President until June 30, 2007 to step down and decide whether she would run for parliament under an amended Charter.

Ramos said he was willing to give Arroyo another chance to meet his second deadline for national unity."

Palace relieved by FVR rejection of anti-GMA plot (abs-cbnnews.com)

"Malacañan on Tuesday heaved a sigh of relief after former President Fidel V. Ramos said that he would not join any group that wants to oust President Arroyo.  In an interview with DZMM, Claudio said Ramos's statement Monday made it clear that the opposition was behind the controversial January 2 meeting and not the former president.

"Mabuti nga ay naging maliwanag na kung sino talaga ang nagpanimula ng meeting na 'yon, ano 'yung iminungkahi sa kanya at kung paano siya tumugon sa mungkahi ng dalawang senador (Now it is clear to us who initiated that meeting and how Ramos responded to the proposal of Senate President Franklin Drilon and former senator Vicente Sotto III)," Claudio said.

He said that Ramos statement ended speculations he was forming an alliance against the President with Drilon and Sotto. 

Claudio said Ramos assurance that he will attend the Lakas Party meeting on January 14 and their council state meeting on January 24 has also confirmed that the former president is not interested in the opposition-backed "transition government" that make Ramos, former presidents Corazon Aquino and Joseph Estrada as leaders."

AFP throws dragnet for Faeldon (abs-cbnnews.com)

"The Armed Forces of the Philippines (AFP) has intensified the manhunt for Oakwood mutineer Marine Capt. Nicanor Faeldon who escaped from detention in December after attending a court hearing, DZMM reported Tuesday.

The report said the dragnet was put out after a Makati regional trial court issued a warrant for Faeldon's arrest.  The AFP is reportedly securing a copy of the warrant of arrest and will distribute it to those who are looking for Faeldon.

The military earlier dismissed alleged video clips and footage of Faeldon roaming in Palawan to gather support for his campaign to oust President Arroyo.  Faeldon escaped after attending a court hearing in Makati City on December 14."

Arroyo vows to bury terrorism, destab to 'dustbin of history' (abs-cbnnews.com)

"President Arroyo has vowed to put an end to terrorism and destabilization, which she said have been the biggest obstacles to the country's economic security, a report posted on the government website said Tuesday.

Addressing top government officials, members of the diplomatic corps and guests at the yearly Vin d' Honneur at Malacañan Monday night, the President said she "will not rest until we have condemned terrorism and destabilization to the dustbin of history."

"Our economic security is deeply affected by our physical security. Peace and order goes hand in hand with a strong economy. And nothing is more important to our personal and economic security than the fight against terrorism and destabilization."

'We must fight destabilization in every corner of our country. We must fight terrorism in concert with allies around the world,' she said."

Abat bares new secessionist move in Mindanao (abs-cbnnews.com)

"Former defense secretary Fortunato Abat claimed on Tuesday a Mindanao-based group is pushing for the declaration of Mindanao as an independent federal state.

Abat said the group known as the "One Mindanao Movement for the Federal Republic of Mindanao" is fed up with the Arroyo administration's alleged lack of support for the region.

The group, Abat said, is led by Tony Diaz, a businessman based in Davao and owner of Imperial Hotel in Davao. 

Abat said Diaz's group wrote to United Nations Secretary-General Kofi Annan to win the support of the UN to hold a referendum on whether Mindanao should declare independence from the Philippines. 

"They have a letter to the secretary-general of the United Nations asking for the involvement of the UN to conduct a referendum here in the Philippines to ask the people of Mindanao whether they should stay with the Philippine republic or secede and become independent," Abat said in an interview with ANC. 

Abat said the group's membership includes Christian and Muslim leaders as well as members of the Reform the Armed Forces Movement (RAM).   The group wants to establish eight states in the island, he added."

Shares close at new 10-month high on buying in PLDT, banks (XFN-Asia)

"SHARE prices closed at a new 10-month high as buying continued in select heavyweights such as Philippine Long Distance Telephone Co. (PLDT) and in banks that may merge, dealers said. 

However, they said most counters were now expensive after recent sharp gains. 

The composite index ended up 11.28 points or 0.52 percent at 2,162.43 after trading between 2,151.15 and 2,167.92. It was the main index's best finish since March 7 last year, when it ended at 2,166.10. 

Volume turnover was 628.27 million shares worth 1.147 billion pesos. 

The broader all-shares index advanced 6.62 points to 1,019.34. Gainers outnumbered losers 38 to 30, while 59 stocks ended unchanged. 

Dealers said investors' outlook on the economy and on most companies was positive, given the government's improving finances and strong remittances from Filipinos working overseas, which continue to keep domestic consumption on the rise."

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


      PDS Wtd. Avg. 
     Previous Close 
      P52.529 = $1.00 
            Volume (US$)

      As of January 10, 2006 3:05 PM
      Disclaimer: These are based on Philippine Dealing System rates.
      Actual bank rates may vary.





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