[Blueboard] Newsbriefs 17 January Afternoon

Simbahang Lingkod ng Bayan slb at admu.edu.ph
Tue Jan 17 16:48:19 PHT 2006

Newsbriefs 17 January Afternoon

Simbahang Lingkod ng Bayan



House committee junks Concom report (abs-cbnnews.com)

"The committee on constitutional amendment at the House of Representatives on Tuesday junked the recommendations of the Consultative Commission (Concom), which seeks to amend the 1987 Constitution.

DZMM reported that Makati Rep. Teodoro Locsin, chairman of the committee on suffrage and electoral reform, said the commission report may only be used as "reference material" for the chamber. 

The commission has proposed overhauling the charter and changing the system of government from presidential to parliamentary, among other recommendations. The Concom was formed by President Arroyo and headed by former University of the Philippines president Jose Abueva. 

The committee also approved a draft of a proposed Constitution that proposes to delegate some of the President's powers to a prime minister in a French-style parliamentary form of government. 

It was drafted by Cagayan de Oro Rep. Constantino Jaraula, chairman of the committee on constitutional amendments. 

Administration Sen. Juan Flavier on Tuesday said efforts to amend the Constitution will face stiff opposition in the Senate since only three senators out of the 23-member chamber favor charter change.

Sen. Joker Arroyo on Tuesday said efforts to amend the Constitution in the House of Representatives are useless unless they get the concurrence of the Senate, which he said is not keen on charter change."

Oakwood mutineer to people: Support Arroyo or 'change' (inq7.net)


"CONTINUE to support President Gloria Macagapal-Arroyo or support "change," a suspected leader of a shortlived mutiny in 2003 said Tuesday.

"Time will come [a time] when every Filipino must decide which side he is on, GMA [Arroyo] or change," Navy Lieutenant Senior Grade Antonio Trillanes IV said in a statement read to media after attending a hearing at the Makati regional trial court where he has been charged with staging a coup d'etat.

"When that time comes, we need to take a stand for the sake of our future. Don't fear, whatever side the public takes, the AFP [Armed Forces of the Philippines] will be there," Trillanes said.

But Trillanes refused to elaborate on how "change" could be achieved, or if it meant mounting a coup d'etat against Arroyo."

US nixes RP request for custody of Marines in rape case (inq7.net)

"THE UNITED States has refused to turn over four Marines to the Philippines despite a warrant of arrest against them for alleged rape, government officials said.

In a statement, the Department of Foreign Affairs said the US government cited a provision in the Visiting Forces Agreement that allowed custody of its soldiers on trial.

"That having taken full account of the position of the Government of the Philippines regarding custody, the US government shall continue to exercise custody until completion of all judicial proceedings, as provided for by Article 5, paragraph 6 of the Visiting Forces Agreement," the DFA said, quoting the US embassy in Manila, in response to a Nov. 16, 2005 note verbale by the Philippines."

Senga orders intensified intelligence operations vs Reds (inq7.net)

"ARMED Forces Chief of Staff General Generoso Senga ordered military commanders to intensify intelligence-gathering operations against communist insurgents and Islamic extremists.

Senga issued the directive at a command conference in Camp Aguinaldo late Monday following bold offensives by the leftist New People's Army (NPA) over the weekend.

"[I ordered] intensified internal security operations and focusing more on the things that we must improve on particularly our intelligence operations," Senga told reporters.

Senga said military intelligence operatives were ordered to coordinate more closely with their counterparts in the Philippine National Police (PNP) and other government security agencies.

On Saturday, NPA guerrillas raided the Batangas provincial jail and freed nine of their comrades and four other prisoners.

On Sunday, the rebels also killed four soldiers in an ambush in Samar province.

Despite the casualties on the government side, Senga dismissed the attacks as 'propaganda activities.'"

Shares close higher, with BPI, ICTSI attracting buyers (XFN-Asia)


(UPDATE) SHARE prices closed higher as renewed interest in select heavyweights such as Bank of the Philippine Islands (BPI) and port operator International Container Terminal Services Inc (ICTSI) helped the market recover from a two-day fall, dealers said. 

The rise was also supported by rotational buying interest in counters that did not join the index's recent rally to a 10-month high, dealers added. 

The composite index ended 16.54 points or 0.77 percent higher at 2,154.30, after trading between 2,132.82 and 2,155.21. Volume turnover stood at 1.18 billion shares worth 858.5 million pesos. 

The broader all-shares index advanced 10.05 points to 1,019.04. 

Gainers outnumbered losers 52 to 30, while 43 stocks ended unchanged. 

"The market is still in a consolidation mode. Technically, there are issues that are already overbought, but some counters have continued to generate strong interest," said First Grade Holdings managing director Astro del Castillo. 


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


      PDS Wtd. Avg. 
     Previous Close 
      P52.623 = $1.00 
            Volume (US$)

      As of January 17, 2006 3:10 PM
      Disclaimer: These are based on Philippine Dealing System rates.
      Actual bank rates may vary.


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