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Stormy
weather. A
laborer from a Pasay City hotel reacts as big waves hit
the pavement on Roxas Boulevard. Continuous rains and
gusty winds are expected, according to the Philippine
Atmospheric, Geophysical and Astronomical Services
Administration, due to Typhoon Julian.
--NONIE REYES |
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TOP STORIES |
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SC stops signing with MILF |
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THE Supreme
Court (SC) issued on Monday a temporary restraining order (TRO)
enjoining the government peace panel from signing the
Memorandum of Agreement (MOA) on Ancestral Domain with the
Moro Islamic Liberation Front (MILF), which was scheduled
for Tuesday in Kuala Lumpur, Malaysia.
In an
interview, court spokesman Jose Midas Marquez told reporters
the Court unanimously granted the petition filed by North
Cotabato officials, led by Gov. Jesus Sacdalan and Vice Gov.
Emmanuel Piñol, after holding a special en banc session on
Monday. |
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Chacha ‘possible’; pact styled
as ‘treaty,’ says Locsin |
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UNDER
questioning at a Senate hearing on Monday, Palace officials
admitted to senators that the proposed memorandum of
agreement (MOA) with the Moro Islamic Liberation Front (MILF)
would likely require constitutional amendments, fueling
fears the administration is using the peace deal to pull off
Charter changes that could also extend the terms of
incumbent officials, including President Arroyo.
Peppered
with queries about the agreement supposed to be signed in
Malaysia this week, Press Secretary Jesus Dureza
acknowledged that if there are provisions in the peace deal
that will require an amendment of the Constitution, “then
that will be the next step.” He was grilled at a hearing
called hastily by Sen. Richard Gordon, hours before the
Supreme Court in fact issued a temporary restraining order
stopping such signing. |
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Shell under fire for deferring
listing, as required by Epira |
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A LEGISLATOR
accused Pilipinas Shell on Monday of violating the
Downstream Oil Industry Deregulation Law that requires oil
refiners in the country to sell at least 10 percent of their
equity to the investing public.
“Shell has
been openly defying the law. The company has refused to
conduct an initial public offering of at least 10 percent of
its shares. The company has refused to list its shares in
the local [stock] exchange despite the definite mandate of
the law,” said Nationalist People’s Coalition Rep. Joseph
Santiago of Catanduanes. |
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Seipi: follow law on use of natural gas royalties
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THE
Semiconductors and Electronics Industries of the Philippines
Inc. (Seipi) said on Monday there should be no doubt as to
where the Malampaya gas royalties should go, as the law is
clear and specific on it and they believe that, if followed,
this would lead to lower power rates.
Seipi
pointed to Section 35 of Republic Act 9136, or the Electric
Power Industry Reform Act (Epira): “Any law to the contrary
notwithstanding, the President of the Philippines shall
reduce the royalties, returns and taxes collected for the
exploitation of all indigenous sources of energy, including
but not limited to, natural gas and geothermal steam, so as
to effect parity of tax treatment with the existing rates
for imported coal, crude oil, bunker fuel and other imported
fuels.” |
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Bakers pushing tariff scuttling
on imported flour; eye lower-priced flour from Russia,
Ukraine |
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BAKERY
groups in the country will be pursuing their petition for
the elimination of tariff on imported flour, especially now
that local millers are again foisting upward price
adjustments.
Aside from
this, Simplicio Umali Jr., president of the Philippine
Baking Industry Group (Philbaking), told the BusinessMirror
they will also ask the state-run Philippine International
Trading Corp. (PITC) to import lower-priced flour from
countries such as Russia and Ukraine. |
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‘Doha failure should not weaken
WTO’ |
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EUROPEAN
Union (EU) trade commissioner Peter Mandelson said the
regional bloc would continue to push for a new global trade
agreement despite the failure of the recent Doha round of
World Trade Organization (WTO) negotiations in Geneva. |
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A BDO
Unibank office is shown in this file photo. The bank,
the second-largest in terms of assets, has suffered from
lower trading gains that cut its first-half profit by 25
percent.
--NONIE REYES |
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