Wednesday, June 01, 2005

Manila Standard Stories

State workers get P1b aid

Though the government is trying to cut spending to narrow the budget deficit, President Gloria Macapagal Arroyo yesterday ordered budget officials to release P1.1 billion for the educational assistance to civil servants.

CA clears 15 diplomats

The Commission on Appointments yesterday confirmed that ad interim appointments of three ambassadors and 12 career diplomats.

Manila averts WTO sanctions

The Philippines has met the deadline imposed by the World Trade Organization for the submission of a revised list of service sectors that will be opened up to foreign direct investments.

Cops guard Garcia round-the-clock

By Christine F. Herrera
A retired military general now finds himself being secured by policemen, not as an officer but a prisoner.

No to ARMM polls resetting

By Fel V. Maragay
A plan to postpone the Aug. 8 election in the Autonomous Region in Muslim Mindanao has fizzled out after it failed to get the support of senators and congressmen.

QC gives MRT 5 months to pay back taxes

Metro Rail Transit has five months to settle P3 billion in back taxes with Quezon City. Otherwise, it will be taken over by the local government.
 
BUSINESS
 

RP picks 5 banks for roadshow

The government has chosen five banks to coordinate investor meetings in the US and Europe later this month, National Treasurer Omar Cruz said Wednesday.

Petron, ethanol producer ink deal

Petron Corp., the country's largest oil refiner, yesterday said it had signed a memorandum of understanding with San Carlos Bioenergy Inc. for the use of its bioethanol production for blending with Petron's gasoline products.

DoF backs lower tax on horse racing bets

By Lawrence Agcaoili
The Department of Finance is supporting the rationalization of tax incentives to horse racing operators despite foregone revenues of close to P1 billion.

PPI clients want tuition payments now

Planholders of Yuchengco-owned Pacific Plans Inc. (PPI) have asked the Securities and Exchange Commission to compel the financially distressed preneed company and spin off firm Lifetime Plans Inc. to continue paying the tuition of beneficiaries despite revocation of Lifetime's certificate of incorporation.

Ayala Land sees P1.6b proceeds from Anvaya

By Jenniffer B. Austria
Property giant Ayala Land Inc. expects to generate P1.6 billion from the sale of shares of its first beach and recreational facility — Anvaya Cove Beach and Nature Club in Morong, Bataan.

WB okays $19m loan for land management

The World Bank announced yesterday the approval of an $18.99 million (P1.03 billion) loan for the Philippines to improve its land administration system.

Superbody at the helm of Subic-Clark development

By Ray S. Eñano
SUBIC Bay Metropolitan Authority (SBMA) Chairman Francisco Licuanan III is forming a new management team that will develop the Subic-Clark economic corridor into a modern and bustling logistics hub and regional growth center.

SPORTS

Wet, wild stage win for Obosa

By Peter Atencio
VIGAN CITY — A soaking wet Erickson Obosa quickly recovered from muscle cramps and a spill in the outskirts of Vigan to grab sixth stage honors of the Golden Tour 50 @ '05.

Mahmoud-less Qatar notches 3rd triumph

By Randy Caluag
Al Ryyan-Qatar unleashed a balanced attack and bucked the absence of the high-leaping Yaseem Ismail Mamoud to beat Syria-Army, 79-54, and tie idle Jordan for Group B leadership yesterday in the FedEx 16th Fiba Asia Champions Cup at the Araneta Coliseum.

RP boxing scam exposed

By Ronnie Nathanielsz
A long standing racket in boxing has once again been exposed after Manila Standard Today discovered that the "Tata" Polinar, who was knocked out in the fifth round of a World Boxing Council Asian Boxing Council super flyweight title fight against Medgoen Singsurat (3K Battery) — the former world flyweight champion — was an impostor.

Montaña guns for 1st finals berth

By Reuel Vidal
Montaña Pawnshop goes for the first finals berth of the 2005 Philippine Basketball League Unity Cup when it meets the Granny Goose Kornets at 4 p.m. while Magnolia Dairy Ice Cream and Welcoat Paints continue their duel for the other spot when they clash in the opening game at the Pasig Sports Center at 2 p.m. today.

In isolation

By Reuel Vidal
The suspension of the Basketball Association of the Philippines by the Philippine Olympic Committee is unprecedented in the country. But even before the suspension, the BAP has long been isolated from the major players of the basketball community in the country.

The only way out

By Ronnie Nathanielsz
We wish to make it absolutely clear that our guiding philosophy has always been to place our country's interests above all else in relation to the current controversy between the Philippine Olympic Committee headed by its president Jose "Peping" Cojuangco and the Basketball Association of the Philippines with beleaguered secretary general Graham Lim as its prime personality.

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