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PRESIDENT
Arroyo reviews her notes before the start of the 4th
Brunei-Indonesia-Malaysia-Philippines East Asia Growth
Area (BIMP-Eaga) meeting on Monday at the Jurong Ballroom
of the Shangri-La Hotel in Singapore. The President is in
Singapore to attend the 13th Asean Summit and Related
Meetings and Asean-EU Commemorative Meeting. Also in photo
are (from left) Presidential Adviser on the Peace Process
Jesus Dureza, Foreign Aff airs Secretary Alberto Romulo
and Trade Secretary Peter Favila. |
| HEADLINES |
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$232-M WB road project halted |
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THE World
Bank (WB) has decided to defer the implementation of the
second phase of the $232-million National Roads Improvement
and Management Project (NRIMP) after the bank found signs of
“procurement problems” in the first phase of the program. |
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GMA:
RP ready for Asean economic integration |
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SINGAPORE
(via PLDT)—President Gloria Macapagal-Arroyo said on Monday
that the Philippines, backed by a cooperative private
sector, is ready for an Asean Economic Community (AEC) by
2015. |
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Asean leaders to sign draft Charter sans changes
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SINGAPORE
(via PLDT)—Asean leaders are expected to sign the historic
Asean Charter today without any amendments, after their
foreign ministers endorsed the final draft of the document
presented to them by the High Level Task Force (HLTF) on
Monday. |
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GMA
to junta: free Aung San Suu Kyi first |
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President
Arroyo on Monday expressed confidence that Myanmar would
release opposition leader Aung San Suu Kyi and take the path
to full democracy once it signs the Asean Charter. |
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Palace OK with Jpepa side pact
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SINGAPORE
(via PLDT)—Malacañang is amenable to the Senate-proposed
side agreement to the Japan-Philippines Economic Partnership
Agreement (Jpepa) to pave the way for the ratification of
the country’s first bilateral trade agreement. |
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Bond
sales signal shift in financing |
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THE amount
of money raised in the first nine months through the sale of
bonds has more than doubled to P83 billion, the Bangko
Sentral ng Pilipinas (BSP) reported on Monday. |
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Banks try to push up T-bill rates after BSP cut, spurned |
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THE banks
tried to defy financial gravity on Monday and sought higher
premium for short-term placements no further than one year
forward—to no avail. |
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‘Strong regulatory climate will reduce power rates’ |
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ALTHOUGH the
Electric Power Industry Reform Act (Epira) was envisioned
when crafted and enacted into law to bring down power rates
through competition, more than competition, what’s really
needed is to have a stronger regulatory environment, a
public forum on the power industry said on Monday. |
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Senators drag feet on resolution to defer PNOC-EDC sale |
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SENATORS
failed to pass Monday an urgent resolution asking Malacañang
to defer Wednesday’s scheduled sale of prime shares in the
Philippine National Oil Co.-Energy Development Corp. (PNOC-EDC)
under a questioned scheme to raise revenues for the Arroyo
administration. |
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ERC
okays Kepco-led power plant in Cebu |
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LOOKING to
address the need for additional power supply in the Visayas
grid by 2011, the Energy Regulatory Commission (ERC)
recently approved the power supply contract (PSC) entered
into by the consortium of Korea Electric Power Corp. (Kepco)
and Salcon Power Corp. (KSPC) and the Negros Occidental
Electric Cooperative Inc. (Noceco). |
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MORE STORIES ... |
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NAPOCOR
president Cyril del Callar and Freedom from Debt Coalition
secretary general Milo N. Tanchuling address attendees at
the workshop on the power industry. -- PAUL
ANTHONY A. ISLA |
