I. BANNER STORIES
GSIS investments gain P1.2B abroad
But Escudero unimpressed
By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
First Posted 02:48:00 10/06/2008
MANILA, Philippines—The Government Service Insurance System (GSIS) Sunday reported that its investments in foreign stocks and securities gained 5 percent, or P1.25 billion, since it shifted a big chunk of its total investment portfolio overseas five months ago.
Filipinos should brace for hard times – Palace
By Paolo Romero
Monday, October 6, 2008
Filipinos should brace for tough times ahead as it would take some time before the slowing global economy recovers despite the implementation of the $700-billion financial rescue plan in the US, MalacaƱang said yesterday.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005151
3. Manila Times
Govt eyes ‘pump priming’
RP looking at China,India, other markets
By Angelo Samonte, Reporter
The Arroyo government will “pump prime” the economy and will look for alternative markets to the US to counter the financial crisis there that is reverberating worldwide, a Palace official said Sunday.
http://www.manilatimes.net/national/2008/oct/06/yehey/top_stories/20081006top1.html
4. Malaya
GSIS: Losses? Look somewhere else
Bares 5% growth in $1B global investment
THE Government Service Insurance System sought to allay fears by its members on its $1-billion global investment program (GIP) saying it has posted an impressive growth of 5 percent (P1.250 billion) in total value of investments as of Sept. 30, 2008.
http://www.malaya.com.ph/oct06/news1.htm
European leaders meet on crisis
Vow to ensure stability of Europe’s financial system
By ANNA WILLARD and BRIAN LOVE
PARIS, France (Reuters) — European leaders vowed after crisis talks on Saturday to do all they can to fend off the financial mayhem that has snowballed out of Wall Street and is now hitting banks in Europe.
http://www.mb.com.ph/MAIN20081006137190.html
Cabinet men clash over ‘Katas ng VAT’
By Ayen Infante and Riza Recio
10/06/2008
A major clash in the Cabinet happened over the reimposition of the tariff on imported crude oil that Finance Secretary Margarito Teves eventually won, saying the funding for President Arroyo’s “Katas ng VAT” program was drying up.
http://www.tribune.net.ph/headlines/20081006hed1.html
7. Abante
SMUGGLED FOOD PRODUCTS UPAKAN NA!
Nina BOYET JADULCO, ARMIDA RICO, JB SALARZON at ROSE MIRANDA
Mababalewala ang lahat ng pagsisikap ng pamahalaan na siguruhing ligtas ang mga produktong pagkaing ibinebenta sa merkado hangga’t namamayagpag ang ‘smuggled goods’.
http://www.abante.com.ph/issue/oct0608/default.htm
GINILITAN HABANG NAGLALAKAD
Ni ALVIN MADAN
Sumirit ang dugo mula sa leeg ng isang 18-anyos na lalaki matapos abangan at gilitan ng isang miyembro ng fraternity na kalaban ng grupo ng biktima habang naglalakad ito pauwi sa kanilang bahay sa Caloocan City kamakalawa ng gabi.
http://www.abante-tonite.com/issue/oct0608/news_story1.htm
BFAD kulang sa analysts
Ni Doris Franche
Monday, October 6, 2008
Posibleng maantala ang pagpapalabas ng resulta ng pagsusuri ng Bureau of Food and Drugs (BFAD) sa mga gatas na pinaniniwalaang kontaminado ng melamine dahil sa kakulangan ng mga analyst.
http://www.philstar.com/index.php?Bansa&p=50&type=2&sec=54&aid=2008100570
10. Journal
11. Business World
Rates likely to be put on hold
Inflation key to today’s decision — Bangko Sentral
THE BANGKO SENTRAL NG PILIPINAS (BSP) is expected to keep policy rates steady today, with analysts mostly of the view that moderating inflation will allow regulators to focus on growth.
http://www.bworldonline.com/BW100608/content.php?id=001
12. Business Mirror
Exporters’ 2009 outlook dim
By Max V. de Leon and Mia Gonzalez
Reporters
EVEN with the meltdown in the United States financial market, the export industry’s 3-percent to 5-percent growth forecast for the year appears to be safe. However, the forecast range of 8 percent to 10 percent for next year is another matter altogether, said an industry group, a pessimism echoed on Sunday in MalacaƱang where officials warned people to “brace for hard times ahead.”
http://www.businessmirror.com.ph/10062008/headlines01.html
II. POLITICAL
GSIS investments gain P1.2B abroad
But Escudero unimpressed
By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
First Posted 02:48:00 10/06/2008
MANILA, Philippines—The Government Service Insurance System (GSIS) Sunday reported that its investments in foreign stocks and securities gained 5 percent, or P1.25 billion, since it shifted a big chunk of its total investment portfolio overseas five months ago.
BoC blamed for entry of banned products
Philippine Daily Inquirer
First Posted 02:54:00 10/06/2008
MANILA, Philippines—The Bureau of Customs (BOC) Sunday came under fire for the supposedly unregulated entry of Chinese food products into the country, amid a scare over milk products bought from China.
AFTER ENDOSULFAN RETRIEVAL
Divers target next batch of chemicals
By Leila Salaverria
Philippine Daily Inquirer
First Posted 02:55:00 10/06/2008
MANILA, Philippines—Divers on Sunday completed the retrieval of 402 containers of the toxic pesticide endosulfan from the sunken MV Princess of the Stars, removing a major obstacle to the recovery of hundreds of bodies feared entombed inside for more than three months.
3 solons seek testing of cosmetics
Philippine Daily Inquirer
First Posted 02:58:00 10/06/2008
MANILA, Philippines—From milk products to beauty products.
Three congressmen Sunday sounded the alarm on the possibility that cosmetic products available in the country – not just some milk products from China – might contain toxic substances.
PEACE TALKS IMPASSE
Multidonor effort to rebuild threatened
By Fernando del Mundo
Philippine Daily Inquirer
First Posted 03:23:00 10/06/2008
(First of three parts)
KABACAN, NORTH COTABATO – The scene at harvest time in this tranquil farming community in a region torn by war is so much like a landscape from a bygone era come alive in an Amorsolo masterpiece.
Analysis
Encounter between Arroyo, Focap aborted
By Amando Doronila
Philippine Daily Inquirer
First Posted 03:25:00 10/06/2008
MANILA, Philippines—Presidential aversion to untrammeled dialogue with the international press came to a head on Thursday when MalacaƱang aborted a scheduled press conference with the Foreign Correspondents Association of the Philippines (Focap).
SANTIAGO’S SUGGESTION
‘Villar should divest himself’
By Gil C. Cabacungan Jr.
Philippine Daily Inquirer
First Posted 07:41:00 10/06/2008
MANILA, Philippines—Senate President Manuel Villar should sever his links to the vast property empire he has built in order to end all speculations about self-dealing and profiting from government projects like the P200-million C-5 road extension project.
Now comes the hard part: Getting bailout plan to work
Monday, October 6, 2008
NEW YORK - Washington’s financial bailout plan is now law. So the credit spigot will start flowing again, banks will resume lending, and an economic recovery can begin, right?
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005153
RP makes front page of Post
By Jose Katigbak STAR Washington bureau
Monday, October 6, 2008
WASHINGTON – It’s not often that good news from the Philippines makes a prominent splash in a major US daily, but a story on the billions of dollars saved by the country because of its use of geothermal power as an indigenous energy source was on the front page of the Washington Post on Saturday.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005156
Teves: Still no railway for $921-M Northrail
By Jess Diaz
Monday, October 6, 2008
Finance Secretary Margarito Teves admitted that actual construction of the Northrail system has not yet started.
Teves also confirmed at a House budget hearing that government loans for the planned railway system from Manila to Malolos and then to Pampanga have ballooned to $921 million (about P43.3 billion).
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005157
All endosulfan packs recovered
By Helen Flores
Monday, October 6, 2008
Salvage firms completed yesterday the recovery operations for the toxic cargo in the sunken M/V Princess of the Stars and averted a potential environmental disaster, an official of the Philippine Coast Guard (PCG) reported.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005159
Miriam blames BOC for proliferation of tainted milk
By Christina Mendez
Monday, October 6, 2008
Sen. Miriam Defensor-Santiago blamed yesterday some Bureau of Customs (BOC) officials for failing to stop the entry and proliferation in the country of imported Chinese-made milk and milk products that are tainted with the industrial chemical melamine.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005161
Nene: Opposition to break up without common bet for 2010
By Edith Regalado
Monday, October 6, 2008
DAVAO CITY — Senate Minority Leader Aquilino Pimentel Jr. warned that the opposition might break up if their leaders refused to unite and come up with a common candidate for the 2010 presidential elections.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005163
GMA allies vow to thwart attempt to cut budget
By Jess Diaz
Monday, October 6, 2008
Allies of President Arroyo in the House of Representatives vowed yesterday to frustrate the efforts of opposition congressmen to cut the proposed P1.415-trillion 2009 budget by at least P100 billion.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005165
Support for Reproductive Health bill growing – Lagman
Monday, October 6, 2008
Albay Rep. Edcel Lagman, principal author of the Reproductive Health (RH) Bill, said yesterday support for the measure has been growing among members of the House of Representatives and the public at large.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005166
2 C-130s set to join Air Force fleet
By James Mananghaya
Monday, October 6, 2008
Air Force chief Lt. Gen. Pedrito Cadungog reported that the Armed Forces will finally activate two newly refurbished C-130 Hercules cargo planes this month after another military cargo aircraft crashed at the Davao Gulf last August.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005167
How free should a free market be?
Monday, October 6, 2008
Is this the end of hypercapitalism?
For nearly a generation, the United States has driven growth by deregulating markets, lowering tax rates and promoting trade. Across wide swaths of the economy - from airlines to banks to energy to telecommunications - Washington stood aside, believing less regulation would produce broad prosperity, even at the cost of greater income inequality.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005168
GSIS reports 5 percent growth in investments
Monday, October 6, 2008
The Government Service Insurance System (GSIS), the state pension fund for government employees, reported yesterday a five-percent increase in the total value of its investments as of last month.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20081005169
JIL’s Villanueva open to presidential run in 2010
EVANGELIST Eddie Villanueva who lost in his bid to become president in 2004 yesterday hinted that his options remain open for another run for the presidency in the 2010 national elections and his decision will hugely depend "divine intervention."
http://www.malaya.com.ph/oct06/metro1.htm
Brother Eddie cites need for RP to focus on genuine reforms
Angie Chui
Brother Eddie Villanueva, president and spiritual advisor of the Jesus is Lord (JIL) movement, said yesterday it is more important to focus on national transformation and find genuine reforms for the country than to engage in partisan political activities.
http://www.mb.com.ph/MAIN20081006137191.html
Jamby has no case vs Villar — Miriam
By Angie M. Rosales
10/06/2008
Sen. Ma. Ana Consuelo “Jamby” Madrigal has no case to raise against Senate President Manuel Villar Jr. before the Senate’s ethics and privileges committee even as she has announced her plan to slap charges of corruption against the Senate leader as the panel mandated to look into allegations of wrongdoing committed by a member of the upper chamber is not empowered to hear criminal charges.
http://www.tribune.net.ph/nation/20081006nat5.html
Sen. Villar pinabibitaw sa pag-aaring kumpanya
(Boyet Jadulco)
Pinayuhan kahapon ni Sen. Miriam Defensor Santiago si Senate President Manny Villar na bitawan na ang mga kumpanyang pag-aari nito upang hindi ito maakusahang ginagamit ang kapangyarihan para sa interes ng kanyang kumpanya.
http://www.abante-tonite.com/issue/oct0608/news_story5.htm
Santiago: Villar’s case may be handled by Ombudsman
NOTHING HAS been proven so far against Senate President Manuel B. Villar, Jr. that will merit an ethics and privileges committee probe, a member of the majority bloc yesterday said.
But this will not deter Senator Ma. Ana Consuelo "Jamby" A. S. Madrigal from filing a complaint with the ethics committee today against Mr. Villar, who has been accused of conflict of interest for a road works budget this year.
http://www.bworldonline.com/BW100608/content.php?id=077
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