Wednesday, June 01, 2005
Manila Standard Stories
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.
The Commission on Appointments yesterday confirmed that ad interim appointments of three ambassadors and 12 career diplomats.
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.
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
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
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.
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.
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.
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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Weather Update
Intertropical convergence zone (ITCZ) affecting Eastern Visayas. Southwesterly surface windflow prevailing over Western Luzon.
Metro Cebu: Mostly cloudy with rainshowers and thunderstorms, winds will be light to moderate blowing from the south and southwest, coastal waters will be slight to moderate, temperature range 25 to 34°C (77 to 93°F).
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