SEPTEMBER 19, 2008 Mind Bullet Inc.
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I. BANNER STORIES
7 Philippine banks have $386M in exposure to Lehman
By Doris Dumlao
Philippine Daily Inquirer
First Posted 01:57:00 09/19/2008
MANILA, Philippines—Seven banks in the Philippines have a total of $386 million in exposure to bankrupt US investment banking giant Lehman Brothers, according to the central bank’s estimates, but the banking system is widely believed to be in a good position to withstand the world’s worst financial shake-out.
RP in better position to face meltdown – IMF
By Des Ferriols
Friday, September 19, 2008
Fiscal reforms have improved the Philippines’ capability to face the global economic meltdown, but more reforms are needed, the International Monetary Fund (IMF) said yesterday.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918133
3. Manila Times
Friday, September 19 2008
Asia vulnerable to US crisis
Days of less government over – expert
Asia could be hit hard by the US financial crisis despite limited direct exposure to instruments linked to sub-prime mortgages, experts at a Philippine conference warned Thursday.
http://www.manilatimes.net/national/2008/sep/19/yehey/top_stories/20080919top1.html
4. Malaya
CA to AFP: Produce 2 abducted UP studes
Says new evidence show they are held by Army
BY EVANGELINE DE VERA
REVERSING its decision, the Court of Appeals yesterday ruled there is sufficient evidence to prove that the Army’s 7th Infantry Division abducted and continues to have custody of the two University of the Philippines students and a farmer who have all been missing since June 2006.
http://www.malaya.com.ph/sep19/news1.htm
Senate pressed on nat’l budget
Asked to quickly resolve double-entry issue
Malacañang stresses need for 2009 outlay
Genalyn D. Kabiling
Malacañang yesterday expressed hopes that the Senate will quickly resolve the squabbling over the controversial double entry in the 2008 budget and buckle down to work and pass the proposed 2009 National Budget.
http://www.mb.com.ph/MAIN20080919135604.html
BSP report shows deeper local impact of US crisis
By Riza Recio
09/19/2008
The wound inflicted on the local financial system by the current turmoil in the United States was deeper than originally estimated with seven major banks reporting exposures to the failed US giant investment bank Lehman Brothers.
http://www.tribune.net.ph/headlines/20080919hed1.html
7. Abante
CHRISTMAS BONUS IBIGAY NA!
Nina NILO MARASIGAN at ROSE MIRANDA
Masasapul ng krisis sa Amerika ang Pasko sa Pilipinas. Ngunit may solusyon para mapagaan ang malakas na ‘impact’ ng problemang pinansyal na yumayanig ngayon sa buong mundo: pagpapalabas ngayon pa lang ng Christmas bonus at ang maagang pagpapatupad ng umento sa sahod ng mga government workers.
http://www.abante.com.ph/issue/sep1908/default.htm
BABY SNATCHER NAGBALIW-BALIWAN
Ni ARIES CANO
Isang 46-anyos na babae ang nagkunwari umanong baliw nang makuyog ng taumbayan matapos maaktuhang tinatangay ang isang babaeng sanggol sa Tondo, Maynila kamakalawa ng gabi.
http://www.abante-tonite.com/issue/sep1908/news_story1.htm
Peace sa Mindanao tiniyak ni PGMA
Ni Rudy Andal
Friday, September 19, 2008
Tiniyak kahapon ni Pangulong Arroyo sa mga taga-Mindanao ang commitment ng gobyerno para sa kapayapaan ng rehiyon.
http://www.philstar.com/index.php?Bansa&p=50&type=2&sec=54&aid=20080918152
10. Journal
GLOBAL CRISIS DEEPENS
Morgan Stanley totters, more banks feared to crumble
HONG KONG -- Asian stocks plunged yesterday as the global financial crisis deepened, with investors fleeing on fears that more banks will go under in the worst turmoil on world markets in decades.
http://www.journal.com.ph/index.php?issue=2008-09-19&sec=1&aid=73327
11. Business World
Closer market scrutiny urged
ADB chief calls for Asian Financial Stability Dialogue
CLOSER SCRUTINY of Asian financial markets is necessary as "reactive" policies are not enough to deal with a worsening credit crisis, the chief of Asian Development Bank (ADB) yesterday said.
http://www.bworldonline.com/BW091908/content.php?id=001
12. Business Mirror
II. POLITICAL
Court orders AFP to free 2 UP coeds
By Leila Salaverria
Philippine Daily Inquirer
First Posted 01:48:00 09/19/2008
MANILA, Philippines—Despite the Armed Forces’ continued denial of involvement, the Court of Appeals has directed it to free two University of the Philippines students and their companion who have been missing since 2006.
Oil firms cut prices by P0.50-P1/liter
By Abigail Kwok, Abigail L. Ho
INQUIRER.net, Philippine Daily Inquirer, Associated Press
First Posted 06:43:00 09/19/2008
MANILA, Philippines -- Good news for motorists this weekend as both major and independent oil players have announced another round of oil price rollbacks as a result of the continuous decline in world crude prices.
How to end Senate row? Group hug, says Honasan
By Gil C. Cabacungan Jr., Edson C. Tandoc Jr.
Philippine Daily Inquirer
First Posted 02:40:00 09/19/2008
MANILA, Philippines—With no closure in sight for Sen. Panfilo Lacson’s exposé questioning the P200-million double allocation for the C-5 road expansion project, a fellow senator seeking an end to days of bickering in the chamber made a touchy proposal Thursday.
More budget insertions bared
Pia Cayetano comes forward with admission
By Edson C. Tandoc Jr.
Philippine Daily Inquirer
First Posted 02:41:00 09/19/2008
MANILA, Philippines—Senators are now disclosing the amendments on the 2008 national budget they had requested, after the exposé of Sen. Panfilo Lacson of a P200-million double entry brought the propriety of budget insertions to light.
Troops overrun Moro camp
Choppers back Army soldiers in Lanao clash
By Inquirer Mindanao, Nikko Dizon
Philippine Daily Inquirer
First Posted 02:42:00 09/19/2008
ILIGAN CITY, Philippines—Army soldiers backed by helicopter gunships killed an undetermined number of Moro rebels in a clash and seized an abandoned rebel stronghold in the two Lanao provinces on Thursday.
http://newsinfo.inquirer.net/inquirerheadlines/nation/view/20080919-161527/Troops-overrun-Moro-camp
Road users’ tax used as bonuses, says solon
Philippine Daily Inquirer
First Posted 06:07:00 09/19/2008
MANILA, Philippines—A party-list lawmaker on Thursday asked Department of Public Works and Highways officials to explain Commission on Audit findings that an attached agency illegally disbursed almost P150 million in employee benefits in 2004 and 2005.
Court orders arrest of alleged dummies of Lehman Brothers
Philippine Daily Inquirer
First Posted 06:07:00 09/19/2008
MANILA, Philippines—The Mandaluyong City Regional Trial Court has ordered the arrest of five Filipinos connected with the bankrupt US-based investment bank Lehman Brothers for alleged violation of the Anti-Dummy Law.
Zubiri warns of Charter change moves as Senate roils
By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
First Posted 07:01:00 09/19/2008
MANILA, Philippines—An administration senator has warned that a bloc in the House of Representatives could take advantage of the Senate’s distraction over the P200-million double entry in the national budget to take a fresh stab at amending the Constitution before 2010.
BASILAN KIDNAPPING
Too many ‘cooks’ in hostage talks
By Julie Alipala
Philippine Daily Inquirer
First Posted 06:53:00 09/19/2008
ZAMBOANGA CITY, Philippines—As far as Basilan Vice Gov. Al Rasheed Sakalahul is concerned, too many cooks may just spoil the broth.
Sakalahul was reacting to reported offers from the Moro Islamic Liberation Front (MILF) and the Moro National Liberation Front (MNLF) to help secure the release of peace activists Esperancita Hupida and Merlie Mendoza from three days of captivity by an armed gang in Basilan.
‘JUSTICE IN TAXATION’
Bishops back move to zap VAT
By Jerome Aning
Philippine Daily Inquirer
First Posted 06:54:00 09/19/2008
MANILA, Philippines—Amid the global financial crisis that many fear would not spare Philippine economy, three Roman Catholic bishops on Thursday joined civil society groups in appealing to the government to scrap the 12-percent Value Added Tax to spare the poor from further hardship.
Asian stocks down, Europe up as central banks act
Friday, September 19, 2008
Asian stocks fell but managed to erase most of the sharp losses that arose after Lehman Brothers Holdings Inc. filed for bankruptcy protection and insurer American International Group Inc. (AIG) was bailed out by the US government.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918134
Execs of Lehman RP firm face arrest
By Non Alquitran
Friday, September 19, 2008
Five Filipinos allegedly connected with the bankrupt US-based investment firm Lehman Brothers were ordered arrested by the Mandaluyong City Regional Trial Court (RTC) for violating the country’s anti-dummy laws.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918135
Army captures main MILF camp in Lanao
By Jaime Laude
Friday, September 19, 2008
Army troops backed by rocket-firing helicopters and artillery seized the main Moro Islamic Liberation Front (MILF) camp in central Mindanao after a week-long offensive at the boundary of the Lanao provinces.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918136
Arrest of Meralco officials sought
Friday, September 19, 2008
A consumer advocacy group asked the Pasig City Regional Trial Court (RTC) yesterday to order the arrest of officials of the Manila Electric Co. (Meralco) for syndicated estafa.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918137
Oil firms cut prices by P1
By Ted Torres
Friday, September 19, 2008
Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron/Caltex Philippines roll back their prices of gasoline, diesel and kerosene by P1 per liter today.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918138
P30-M bonus each for 70 gov’t employees in 2005?
By Delon Porcalla
Friday, September 19, 2008
The Department of Public Works and Highways (DPWH) might have made multi-millionaires of employees of an attached agency in 2005, based on Commission on Audit (COA) records.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918139
7 BIR employees dismissed; 4 officers charged with graft
By Edu Punay
Friday, September 19, 2008
The Ombudsman has ordered the dismissal of seven revenue employees for various offenses including failure to justify their ostentatious lifestyles.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918140
‘P1.3 B missing from DA funds’
By Jess Diaz
Friday, September 19, 2008
Some P1.3 billion in taxpayers’ money released to the Department of Agriculture (DA) in 2007 is “missing,” according to Rep. Risa Hontiveros Baraquel of the party-list group Akbayan.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918141
Gov’t cannot impose ceiling on nursing enrolment – CHED
By Rainier Allan Ronda
Friday, September 19, 2008
The Commission on Higher Education (CHED) is reviewing proposals to set a ceiling on the excess number of nursing students.
CHED acting chairman Emmanuel Angeles III said there had been numerous proposals seeking to limit enrollment of nursing students due to the increasing number of unemployed nurses in the country.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918142
Stop junkets, GMA urged
Friday, September 19, 2008
The United Opposition (UNO) yesterday asked President Arroyo to stop her “useless junkets.”
In a text message to The STAR, UNO spokesman Adel Tamano said Mrs. Arroyo might as well cancel her trip to the United States where she is set to attend the United Nations general assembly.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918144
Gov’t defends Smith transfer before SC today
By Mike Frialde
Friday, September 19, 2008
The government will defend before the Supreme Court during oral arguments today the transfer from the Makati City Jail to the US embassy of Lance Corporal Daniel Smith, the US Marine convicted almost two years ago of raping a Filipina.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918145
No respite from ‘insertion’ row as Lacson vows to continue exposés
By Aurea Calica
Friday, September 19, 2008
There is no respite from the dispute over the budget insertion in the Senate as Sen. Panfilo Lacson vowed yesterday to continue his expose on budget anomalies, particularly on the alleged “conflict of interest” of Senate President Manuel Villar Jr. for pushing for the C-5 Road extension project funding.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918146
Palace to take MILF recruitment of child soldiers before UN
Friday, September 19, 2008
Malacañang aims to bring before the United Nations the Moro Islamic Liberation Front’s (MILF) recruitment of children as fighters.
Executive Secretary Eduardo Ermita said the government has photographs to show that the MILF is using children in combat.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918147
No contact yet from abductors of peace volunteers in Basilan
Friday, September 19, 2008
The negotiating team created by the Basilan provincial government has yet to make contact with the Abu Sayyaf for the safe release of the two remaining hostages.
Navy spokesman Lt. Col. Edgard Arevalo said the team headed by Spanish priest Angel Calvo is still looking for a person to establish the communication link with the Abu Sayyaf.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918148
Lozada lawyer says Atienza, Razon may face obstruction charge
By Jose Rodel Clapano
Friday, September 19, 2008
The lawyer of national broadband network witness Rodolfo Lozada Jr., claimed yesterday that Environment Secretary Lito Atienza, Philippine National Police (PNP) chief Director General Avelino Razon Jr., and the people who were implicated in the alleged abduction of Lozada at the Ninoy Aquino International Airport (NAIA) could all be charged with obstruction of justice for helping the witness evade the Senate investigation on the cancelled NBN contract.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918149
Dimzon named OWWA chief
Friday, September 19, 2008
Malacañang announced yesterday the appointment of Philippine Overseas Employment Administration deputy administrator Carmelita Dimzon as the new administrator of the Overseas Workers Welfare Administration.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918150
Policy interests protected, says AIG-Philamlife
Friday, September 19, 2008
With the current financial issues in the US affecting its parent company, American International Group, Inc. (AIG), the Philippine American Life and General Insurance Co. (Philamlife) assures its customers and policy owners that their interests are protected with the company’s financial strength.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080918151
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