SEPTEMBER 17, 2008 Mind Bullet Inc.
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I. BANNER STORIES
Stocks tumble, peso slides to 16-month low
By Elizabeth Sanchez-Lacson, Doris Dumlao
Philippine Daily Inquirer
First Posted 01:49:00 09/17/2008
The collapse of Lehman Brothers, one of Wall Street’s oldest investment banks, Tuesday sent Philippine stocks plummeting 4.5 percent to a new low in a year and a half.
Stocks continue free fall
Wednesday, September 17, 2008
NEW YORK – Global stock markets went into a dizzying fall yesterday as the collapse of US investment bank Lehman Brothers sparked fears that more bad news is on the horizon for the finance sector and the economy.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916112
3. Manila Times
Wednesday, September 17, 2008
Meralco execs face arrest
Firm spokesman says estafa case aims to harass
By Willliam B. Depasupil Reporter
The Department of Justice has sought the immediate arrest of 16 top officials of the Manila Electric Co. (Meralco) for the non-bailable offense of syndicated estafa.
http://www.manilatimes.net/national/2008/sep/17/yehey/top_stories/20080917top1.html
4. Malaya
Joker, Malacañang come to Villar’s rescue
‘Ping trying to be a hero at the expense of others’
BY JP LOPEZ
ADMINISTRATION Sen. Joker Arroyo, in a personal and collective privilege speech yesterday, accused Sen. Panfilo Lacson of "intellectual dishonesty" over his allegations of corruption in the Senate in relation to the double appropriation in the 2008 national budget for the C-5 extension project.
http://www.malaya.com.ph/sep17/news1.htm
RP acts on global market fears
Sets measures to mitigate effects of US dev’ts
GMA speaks today on moves to mitigate effects of US dev’ts
By DAVID CAGAHASTIAN
President Gloria Macapagal Arroyo will speak on measures to mitigate the effects on the Philippine economy of weakening markets in the United States and other industrialized countries at the midyear Philippine Economic Briefing today in Makati City on the theme "Philippines Addressing Challenges: Staying the Course."
http://www.mb.com.ph/MAIN20080917135447.html
Peers rebuke, denounce Lacson for playing ‘hero’
09/17/2008
For shooting first and asking questions later, it was Sen. Panfilo Lacson’s turn to become “bruised and battered” and voted down by the Senate majority, many of whom gave the view that Lacson had gone “too far” in condemning corruption in the Senate and making it appear that he was the only senator who was “clean” while the rest are deemed “corrupt.”
http://www.tribune.net.ph/headlines/20080917hed1.html
7. Abante
WALANG NILABAG SI VILLAR -- PALASYO
Nina ROSE MIRANDA, NILO MARASIGAN, REY MARFIL at BOYET JADULCO
Nagkakaisang sinabi ng mga Malacañang officials na walang ginawang paglabag si Senate President Manuel Villar sa Revised Penal Code dahil lamang sa alegasyong “double insertion” sa national budget.
http://www.abante.com.ph/issue/sep1708/default.htm
BABY ISINILID SA KALDERO
Nina NONNIE FERRIOL at ERIKA MAALA
Kalunus-lunos ang sinapit na kapalaran ng isang munting anghel na baby boy dahil hindi man lamang ito binigyan ng pagkakataong masilayan ang mundo matapos na umano’y sapilitang ilaglag sa sinapupunan ng kanyang ina at itinago pa sa loob ng kaldero para tangkain sanang itapon na lamang kamakalawa ng gabi sa Makati City.
http://www.abante-tonite.com/issue/sep1708/news_story1.htm
Divorce, no way
Ni Malou Escudero
Wednesday, September 17, 2008
Malabo ng magkaroon ng divorce sa Pilipinas dahil sa Senado pa lamang ay 11 senador na ang tutol sa panukalang ito na isinusulong ngayon sa Kamara.
http://www.philstar.com/index.php?Bansa&p=50&type=2&sec=54&aid=2008091659
10. Journal
OIL PRICES PLUMMET
Crude down to $92 per barrel
LONDON - World oil prices dipped briefly beneath $90 a barrel on Tuesday amid growing economic gloom and fears of slowing energy demand, traders said.
The price of crude oil has now plunged by almost 40 percent since striking record highs above $147 per barrel in July.
http://www.journal.com.ph/index.php?issue=2008-09-17&sec=1&aid=73119
11. Business World
RP banks prepare for fallout
Banco de Oro, Metrobank bare Lehman exposure, set aside funds
DOMESTIC BANKS with direct exposure to failed Lehman Brothers have begun setting aside funds to cover possible losses arising from the US financial institution’s collapse.
http://www.bworldonline.com/BW091708/content.php?id=001
12. Business Mirror
Hunt on for who got burned
By Jun Vallecera and Butch Fernandez
Reporters
THE central bank governor and finance secretary moved on Tuesday to ease fears of a major fallout in the Philippines from the continuing turmoil in US financial markets, amid calls by lawmakers for authorities to compel the two biggest pension funds to make a clear and unequivocal declaration that they had no burned investments globally.
http://www.businessmirror.com.ph/09172008/headlines01.html
II. POLITICAL
Villar admits seeking C-5 funding
By Edson C. Tandoc Jr., Gil C. Cabacungan Jr.
Philippine Daily Inquirer
First Posted 04:24:00 09/17/2008
MANILA, Philippines—Senate President Manuel Villar admitted he was the one who had requested the finance committee to raise the allocation for the controversial C-5 road extension project, but he stressed that he “did not and will not get anything from the additional funding.”
Solons grill agri chief over rice scam
By Norman Bordadora
Philippine Daily Inquirer
First Posted 04:25:00 09/17/2008
MANILA, Philippines—Lawmakers rebuked Agriculture Secretary Arthur Yap for alleged irregularities involving billions of pesos in agricultural funds, when he appeared before Congress on Monday night to seek approval of a P39-billion budget for his department in 2009.
Sabio wants DoJ to probe bribe source
By Leila Salaverria
Philippine Daily Inquirer
First Posted 04:26:00 09/17/2008
MANILA, Philippines—Where would the P10 million for the alleged bribe attempt come from?
Court of Appeals Justice Jose Sabio Jr. on Tuesday asked the Department of Justice to expand its probe of an alleged bribe try in connection with the case of the Manila Electric Co. (Meralco) to include the source of the money.
Fighting, floods could bring famine to South, bishop fears
By Jerome Aning
Philippine Daily Inquirer
First Posted 04:27:00 09/17/2008
MANILA, Philippines—The on-going armed conflict between the military and the Moro Islamic Liberation Front (MILF) compounded by months of monsoon flooding could bring famine to parts of Mindanao, a Roman Catholic bishop warned Tuesday.
From the air, gov finds illegal logs in Sierra Madre
By TJ Burgonio
Philippine Daily Inquirer
First Posted 04:28:00 09/17/2008
MANILA, Philippines—It took a helicopter ride for Isabela Gov. Grace Padaca to discover that there were some 11 million board feet of illegally cut logs in the Northern Sierra Madre Natural Park still waiting to be hauled out.
Captives down to 2; teeners behind kidnap
By Julie Alipala, Alcuin Papa
Mindanao Bureau, Philippine Daily Inquirer
First Posted 04:29:00 09/17/2008
ZAMBOANGA CITY—Boys as young as 15 years old carried out the kidnapping of four peace advocates on Basilan island but two of the hostages later escaped during pursuit operations against the kidnappers, police said Tuesday.
2 aid workers experts in conflict resolution
By Julie Alipala
Mindanao Bureau
First Posted 04:30:00 09/17/2008
ZAMBOANGA CITY—Humanitarian workers Esperancita “Espie” Hupida and Merlie “Milet” Mendoza are known experts in conflict resolution and rehabilitation of war-torn areas, such as the provinces of Basilan and Sulu.
Call him Jeff, says SC; he used to be called Jennifer
By Leila Salaverria
Philippine Daily Inquirer
First Posted 06:39:00 09/17/2008
MANILA, Philippines—A person who is genetically female but has a rare and permanent medical condition that allows the development of both male and female sex organs is now legally and officially a man.
RP banks set aside $94.7 M
By Ted Torres and Des Ferriols
Wednesday, September 17, 2008
The country’s two largest banks, Metropolitan Bank and Trust Co. and Banco de Oro, said yesterday they were setting aside provisions totaling $94.7 million to cover their exposure to the Lehman Brothers’ collapse.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916113
Abus release 3 of 5 kidnapped aid workers
By James Mananghaya
Wednesday, September 17, 2008
Three of the five aid volunteers kidnapped by the Abu Sayyaf in Basilan were released Monday evening, the military said.
Navy spokesman Lt. Col. Edgard Arevalo said the bandits had agreed to release without ransom Ludivina Dekit, Romy de los Reyes and Jun Estandarte and left them in the town of Al-Barka.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916114
Fuel prices rolled back by 50¢
Wednesday, September 17, 2008
As world crude prices plunged, small oil players announced last night a price reduction of 50 centavos per liter for gasoline and diesel effective early this morning.
There was no word from the “Big 3” oil companies, but they usually follow price cuts of the small players.
Eastern Petroleum will roll back prices effective at 5 a.m. and Seaoil an hour later to reflect price cuts in crude oil this week.
Additional price cuts are possible this week, the company said.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916115
COA finds more infra anomalies
By Reinir Padua
Wednesday, September 17, 2008
The Commission on Audit (COA) has found irregularities in the use of more than P2 billion intended for the construction and rehabilitation of roads that were instead diverted to other projects in 2007.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916116
Budget insertions lack transparency
Wednesday, September 17, 2008
The brouhaha over the P200-million extra funding for the CP Garcia Ave. or C-5 highlights one of the key mysteries in the budget process: the so-called “congressional insertions.”
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916117
Senate to summon Bro. Mike over C-5 project
By Aurea Calica
Wednesday, September 17, 2008
Charismatic leader Bro. Mike Velarde may not be able to avoid getting summoned by the Senate to shed light on the issue of alleged overpayments of right of way over properties covered by road improvement projects, especially when the owners were in power.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916118
JMSU deal under review
By Delon Porcalla
Wednesday, September 17, 2008
Energy Secretary Angelo Reyes reported yesterday that the Joint Marine Seismic Undertaking (JMSU) forged by the Philippines with China and Vietnam had expired last July 1 and is now under review.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916119
Flour millers question big bakers’ price hike
By Ma. Elisa Osorio
Wednesday, September 17, 2008
Local flour millers are questioning the decision of some big bakers to increase their prices this week and even further raise bread prices if they don’t get an additional P30 per bag discount.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916120
DOTC open to scrapping interconnection fees on SMS
By Delon Porcalla
Wednesday, September 17, 2008
Depending on the outcome of several congressional investigations, the Department of Transportation and Communications (DOTC) said it would support government moves to scrap the interconnection fees between telecommunication companies (telcos) to pave the way for free text messaging (SMS).
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916121
SC junks OSG petition, allows gender change for man
By Mike Frialde
Wednesday, September 17, 2008
The Supreme Court has affirmed a Regional Trial Court (RTC) decision allowing a woman with an adrenal gland problem to change her name and her gender from “female” to “male”
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916122
DA defends release of P4.3-B augmentation fund
By Marianne Go
Wednesday, September 17, 2008
The Department of Agriculture yesterday defended the release of the additional P4.3-billion augmentation fund for the agency’s priority programs.
In its 2007 report, the Commission on Audit (COA) had said that the release of the additional P4.3 billion was over and above the DA’s approved budget for 2007.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916123
Sabio affirms bribery charge
Wednesday, September 17, 2008
Suspended Court of Appeals Justice Jose Sabio Jr. affirmed yesterday before the Department of Justice his affidavit accusing businessman Francis de Borja of trying to bribe him with P10 million.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916124
Army intercepts MILF weapons
By Jaime Laude
Wednesday, September 17, 2008
Government troops foiled an attempt by the Moro Islamic Liberation Front (MILF) to smuggle firearms and bullets to its fighters in Cotabato province.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916125
POEA: Financial fall won’t affect OFW hiring
By Mayen Jaymalin
Wednesday, September 17, 2008
The Philippine Overseas Employment Administration (POEA) yesterday dismissed a possible drop in the hiring of overseas Filipino workers (OFWs) in the face of the collapse of world financial markets.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916126
EU urges RP, MILF to resume talks
Wednesday, September 17, 2008
The European Union (EU) urged the Philippine government and the Moro Islamic Liberation Front (MILF) to resume peace talks amid an escalation of fighting in Central Mindanao.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916127
Ramos, Prince of Orange to keynote international forum on climate change
Wednesday, September 17, 2008
Former President Fidel Ramos and Prince Willem-Alexander of the Netherlands will keynote the 8th Asia Pacific Roundtable for Sustainable Consumption and Production (APRSCP) which begins tomorrow at the Mactan Shangri-La in Cebu.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080916128
Wednesday, September 17, 2008
Senate shaming itself on C-5 issue – Chiz
Sen. Francis Escudero decried Tuesday that the Senate had to vote before allowing a member, Sen. Alan Peter Cayetano, to speak on a question of personal and collective privilege after his name was dragged by Sen.Panfilo Lacson in the augmentation of the P200-million budget for the Circumferential Road-5 extension project.
http://www.manilatimes.net/national/2008/sep/17/yehey/metro/20080917met5.html
Ping, miyembro ng ‘Intriga Gang’ - Cayetano
Wednesday, September 17, 2008
Mas tumindi kahapon ang ‘word war’ ng mga senador kaugnay sa isyu ng ‘budget insertion’ matapos tahasang sabihin ni Sen. Alan Peter Cayetano na miyembro ng Puro Intriga Na Lang Gang o “PING” si Sen. Panfilo “Ping” Lacson.
http://www.philstar.com/index.php?Bansa&p=50&type=2&sec=54&aid=2008091660
5 senators favor divorce in RP but 11 are against it
By HANNAH L. TORREGOZA
Five senators have come out in the open favoring a proposed bill that would allow divorce among Filipino couples.
The five senators are Benigno "Noynoy" Aquino III, Manuel "Mar" Roxas II, Richard Gordon, Miriam Defensor Santiago and Pilar Juliana "Pia" Cayetano.
http://www.mb.com.ph/MAIN20080917135452.html
Ping guilty of ignorance of budget process — Villar
By Angie M. Rosales
09/17/2008
Sen. Panfilo Lacson is guilty of not understanding the budget process.
This was the shot fired by Senate President Manuel Villar Jr. a day after being “bruised and battered” on the floor by Senators Lacson and Jamby Madrigal.
http://www.tribune.net.ph/headlines/20080917hed2.html
Ping tatahimik kapalit ng pag-amin ni Villar
Nina Rey Marfil at Boyet Jadulco
Nagpahiwatig kahapon si Sen. Panfilo “Ping” Lacson ng kahandaang maghinay-hinay sa paglalarawang maanomalya ang P200 milyong tongpats sa C-5 Road Project kapag inamin ni Senate President Manny Villar ang pagkakamali o nangyaring double insertion.
Magbabago lamang ang kanyang pananaw sa P200 milyong tongpats kung maipapaliwanag ni Villar ng maayos ang ginawang pagsisingit sa 2008 national budget.
http://www.abante-tonite.com/issue/sep1708/news_story2.htm
Pag-absuwelto kay Velarde intriga lang
(Rey Marfil)
Sinupalpal ni opposition Sen. Panfilo ‘Ping’ Lacson ang pagsangkalan ng kampo ni Senate President Manuel ‘Manny’ Villar Jr., sa lupang pag-aari ni El Shaddai leader Bro. Mike Velarde para intrigahin ang imbestigasyon tungkol sa P200 milyong tongpats sa C-5 Road Project.
http://www.abante-tonite.com/issue/sep1708/news_story5.htm
CA ruling vs Lozada hailed
THE Court of Appealss’ rejection of the petition for writ of amparo filed by ZTE witness Rodolfo "Jun" Lozada only shows that facts can never be overturned by teary-eyed theatrics.
http://www.journal.com.ph/index.php?issue=2008-09-17&sec=4&aid=73069
Villar-Ping feud won’t affect Senate -- Chiz
By: Paul M. Gutierrez
SENATE ways and means Ccommittee chairman, Sen. Francis Escudero, yesterday voiced optimism that the current row between Senate President Manuel Villar and Sen. Panfilo Lacson would not hamper the chamber’s legislative agenda.
http://www.journal.com.ph/index.php?issue=2008-09-17&sec=4&aid=73143
Palace mum over C-5 row
By: Efren Montano
MALACAÑANG is not lifting a finger to settle the raging squabble over an alleged double entry on an infrastructure project on C-5 Parañaque City in the national budget.
http://www.journal.com.ph/index.php?issue=2008-09-17&sec=4&aid=73144
Villar orders close watch of ports
PRESIDENTIAL Anti-Smuggling Group (PASG) Head Usec. Antonio “Bebot” A. Villar, Jr, today ordered his field officers to be extra vigilant as intelligence reports indicated smugglers of highly-saleable goods for Christmas may divert their shipments to the other major ports in the province.
http://www.journal.com.ph/index.php?issue=2008-09-17&sec=4&aid=73148
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