Worry, worry, worry. Philamlife  top  honcho  Jose  Cuisia (right), a De La Salle University basketball team fan, has worry etched on his face as his team lost the initial championship game with Ateneo de Manila University, 69-61, (Story on sports01). Adding to Cuisia’s woe is the possible fallout on Philamlife of the crisis that hit its mother company, American Insurance Group of the US. In contrast, Manny Pangilinan of Philippine Long Distance Telephone Co., an Ateneo supporter, has the look of confidence. --NONOY LACZA

Govt asset sale stays on track

The government’s P41-billion asset sale to help backstop the anticipated deficit to within P75 billion this year has not been derailed by the latest round of financial turbulence yet, Finance Secretary Margarito Teves said.

But he acknowledged looking at contingency plans in the event the appetite is dulled by concerns the turmoil could drag down interest on the government’s 40-percent stake in Petron Corp. and in the exploration arm of the Philippine National Oil Co., or PNOC-EC.

Remittances–RP’s silver bullet in crisis, ADB says

While it is true the country’s macroeconomic framework already stood on solid ground when the latest round of financial turbulence hit markets around the world, the Philippines was able to withstand the initial shocks also because it has a corps of economic planners and managers who did their homework years before, the Asian Development Bank (ADB) said.

                Economist and ADB deputy director general Thomas Crouch cited changes in the domestic financial markets that made the country “less vulnerable to external shocks.”

IP Phils.’ First draft of cheap meds rules out

THE Intellectal Property Office of the Philippines (IP Phils.) has finished the first draft of the implementing rules of the cheaper medicines law and will have it posted on the agency’s web site for public review on Monday.

Local traders not worried

AN official of the Federation of Philippine Industries (FPI), an organization whose members represent various sectors of Philippine business, believes  the recent financial turmoil in the US banking system is of little concern among local businessmen.

FPI to govt: Hold COA audits

FEARING that it could be used as a precedent for more government encroachment on privately held businesses, domestic industries appealed to Malacañang to reconsider its plan to have the books of accounts of oil companies scrutinized by the Commission on Audit (COA).

Who will replace del Callar?

THE choice for the replacement of resigned National Power Corp. (Napocor) president Cyril del Callar has been narrowed down to former environment secretary Michael Defensor and Power Sector Assets and Liabilities Management Corp. vice president Froilan Tampinco.

Planet English: Grab with your lead

Let me tell you a secret: I always stumble on my lead. Starting out in magazine features in the ‘70s, I’d typewrite my first sentence or paragraph, then read and reread it. If I didn’t think it was exciting enough to grab the reader’s interest, I’d pull out, crumple and shoot the sheet in the trash can. I took four or five tries before I was satisfied, and only then would I proceed to the body of the article. I thought myself a failure for being so tentative. Until I read somewhere that Hemingway used to write up to 25 takes of his lead before he felt it perfect.

10-man DA panel to investigate COA report on local projects

THE Department of Agriculture (DA) has created a 10-man committee to investigate the report released by the Commission on Audit (COA) on the agency’s projects and investigate the possible lapses committed by agriculture officials.

‘RP businessmen do not know value of intangible IP assets’

MPAZI SINJELA, dean of the World Intellectual Property Organization (Wipo) Worldwide Academy, posed the question: Can you find the valuation of the intangible IP (intellectual property) assets of Philippine companies in their books of accounts?

Peace in Mindanao high in GMA’s agenda

PRESIDENT Arroyo is determined to see a peaceful Mindanao, despite the setbacks in the peace process with the Moro Islamic Liberation Front.

Executive Secretary Eduardo Ermita made the statement, saying that the President has reiterated her confidence on the positive outcome of the government’s peace processes at formal ceremonies Saturday night marking the Iftar, the Islamic observance of the day’s breaking of the fast in this year’s Ramadan.

‘Be wary if the milk you buy is cheap’

OWING to the contaminated milk powder scandal that downed more than 6,000 in China, Health Secretary Francisco Duque III warned the public to be cautious  in buying unbranded, repacked and cheaper milk as this may be harmful to the health of
children.

Former economic planning secretary Solita Monsod, who is a professor at the UP School of Economics and founding president of the Human Development Network, confers with former President Joseph Estrada during a forum on the government-Moro National Liberation Front peace talks. --ROY DOMINGO