Thursday, November 3, 2011

03 NOVEMBER 2011, Thu, 0641h

USD1.00=Php42.887    Prev=42.591     PDS FX Rate  02-November-11 
PSEi     4,260.41     (73.31)     -1.6916%    WED NOV 02, 2011 13:00:00 PM 

Philippines


Philippine workers banned from 41 countries

Ninemsn - 
Tax Time 2011Doing your tax doesn't need to be daunting! Check out ninemsn Finance's Tax Time for tips and advice on how to make your 2011/12 tax return work for you.

Ligots post bail fresh from 'vacation'

Inquirer.net - 
COVERING UP, NOT HIDING Former military comptroller Jacinto Ligot and his wife Erlinda appear at the Court of Appeals in Quezon City on Wednesday to post bail and avoid arrest.

Deles in hot seat over P31-M grant

Ang Peryodiko - 
MANILA (Nov. 1, 2011) -- The top peace adviser of President Benigno Aquino III seemed to have found herself in even hotter water, this time over a “confirmation” that she made over the weekend that a breakaway communist hit squad had received ...

MILF sincerity questioned

Inquirer.net - 
Legislators questioned the sincerity of the secessionist Moro Islamic Liberation Front (MILF) in pursuing peace after the Muslim rebel group refused to surrender one of its commanders accused of beheading ...

Palace cites peaceful All Saints

Tempo - 
Manila, Philippines - Malacañang hailed yesterday the peaceful commemoration of All Saints' Day, citing the safety precautions implemented by concerned government agencies.

GMA may also need bone biopsy

Philippine Star - 
MANILA, Philippines - Former President and now Pampanga Rep. Gloria Macapagal-Arroyo needs to undergo a bone biopsy that can only be done abroad in order to determine the cause ...

Money never an issue for Revilla clan

Inquirer.net - 
Money is never an issue as far as former Senator Ramon Revilla Sr. is concerned, the talent manager of his son and namesake said Wednesday by way of explaining the P1-million monthly allowance he had reportedly been providing nine of ...

New open pit mining ban another hurdle for sector

BusinessWorld Online Edition - 
MINERS ARE BRACING for the implementation of an ordinance banning open-pit operations in Zamboanga del Norte, with TVI Resource Development (Philippines) Inc. (TVIRD) set to question the directive and Philex Mining Corp.

Comelec eyes 1 million absentee voters for 2013 elections

Philippine Star - 
MANILA, Philippines - The Commission on Elections (Comelec) will work double time to reach its target of registering some one million overseas absentee voters (OAV) for the ...

November declared as National Reading Month

ABS CBN News - 
MANILA, Philippines - The Department of Education (DepEd) has declared November 2011 as National Reading Month as part of the agency's move to promote its Every Child A Reader Program and to support the ten-point education agenda of the Aquino ...

Railroad kill

Tempo - 
Manila, Philippines - A commuter train ran over yesterday a still unnamed male scavenger along the tracks of the Philippine National Railways (PNR) in Magallanes, South Superhighway, Makati City.

7 billion and counting

Inquirer.net - 
The thought of seven billion people inhabiting the planet boggles the mind, particularly when one considers that the Philippines, where joblessness and poverty are the norm in a vast swath of the population, contributes as much as 94.9 million to the ...

15 Armed Forces generals promoted

Manila Bulletin - 
MANILA, Philippines - President Benigno Aquino III has approved the promotion of 15 Armed Forces generals and senior officers, the Armed Forces of the Philippines (AFP) announced Wednesday.

No privacy when it comes to government as employer

Malaya - 
The Supreme Court recently upheld the dismissal of a Civil Service official and ruled that his superiors did not violate his privacy by searching his office computer for evidence that he was lawyering for parties with pending cases in his agency.

Danger zone

Tempo - 
Manila, Philippines - The Mines and Geosciences Bureau (MGB) called on the immediate relocation of residents in a village in Solsona, Ilocos Norte, as it sits directly on the path of debris flow, especially during a heavy downpour.

New policies eyed for departing OFWs

Inquirer.net - 
The Bureau of Immigration (BI) is “sensitive” to mounting complaints that some of its agents at the airports were unjustly offloading overseas Filipino workers (OFWs) and even soliciting bribes from travelers who wanted to be “cleared” ...

Protests to seek relocation of power plant from park zone

BusinessWorld Online Edition - 
BACOLOD CITY -- Environment group Green Alert Negros launched on Tuesday a campaign to have a power plant relocated our of a natural park buffer zone by January.

PSA seminar

Tempo - 
Manila, Philippines - The Philippine Sportswriters Association (PSA) is sponsoring a one-day seminar for all its officials and members on Sunday.
PSA »
PSA Seminar
PSA seminar set

Drug charges junked vs actor

Inquirer.net - 
The Department of Justice (DOJ) has dismissed for lack of probable cause drug charges filed against an aspiring TV actor and three of his friends who were arrested last month during a drug buy-bust operation in Antipolo City.

Business


Sarkozy, Merkel open door for Greece to drop euro

The Australian - 
FRENCH President Nicolas Sarkozy and German Chancellor Angela Merkel opened the door to Greece leaving the euro-zone if the government rejected decisions adopted unanimously by euro-zone governments at their summit October 27.

Gillard tells Europe to step on it

The Australian - 
Julia Gillard is escorted by the Australian ambassador to France, David Ritchie, on her arrival in Nice last night ahead of the G20 summit in Cannes.

Ayala, Trans-Asia bag P9B in loans for coal-fired plant

BusinessWorld Online Edition - 
THE ENERGY joint venture between Ayala Corp. and Phinma Corp. units has bagged a P9-billion loan from three banks for a coal power plant project in Batangas, the firms yesterday said in separate disclosures to the local bourse.

Fed: Get used to 8 percent jobless rate

Boston Herald - 
The Federal Reserve is lowering its long-term US economic forecast for the third straight time, warning that unemployment could stay near 8 percent for at least three more years as growth remains subdued.

BSP says higher capital charge to temper NDFs

Middle East North Africa Financial Network - 
Nov 03, 2011 (The Manila Times - McClatchy-Tribune Information Services via COMTEX) -- The Bangko Sentral ng Pilipinas (BSP) said the higher capital charge on non-deliverable forwards (NDFs) will help curb volatility in the foreign exchange market as ...

Meralco hikes profit outlook after strong Q3 performance

BusinessWorld Online Edition - 
DISTRIBUTION UTILITY Manila Electric Co. (Meralco) expects to post an 18.9% profit growth by yearend, slightly higher than earlier forecasts, after record power sales caused a double-digit income surge so far as of end-September.

PLDT raises funds for capex, debt payment

Middle East North Africa Financial Network - 
Nov 03, 2011 (The Manila Times - McClatchy-Tribune Information Services via COMTEX) -- Philippine Long Distance Telephone Co. (PLDT) on Wednesday said it has raised fresh funding for its capital expenditures and debt refinancing.

BIR asks court to junk stay order on bond tax

BusinessWorld Online Edition - 
THE BUREAU of Internal Revenue (BIR) yesterday asked the Supreme Court to junk the petition of eight banks seeking to bar the imposition of a final withholding tax (FWT) on controversial Treasury bonds that matured last month.

The legal landscape for MF Global's Jon Corzine

Reuters - 
NEW YORK Nov 2 (Reuters) - If the Federal Bureau of Investigation turns up evidence that MF Global Holdings Ltd improperly mixed customer accounts and its own funds, it would still be difficult to prosecute the ...

Clarification sought on worker's salaries

Manila Bulletin - 
MANILA, Philippines - Former labor undersecretary Susan Ople urged the Philippine government to launch a diplomatic offensive to reinvigorate bilateral ties with Saudi Arabia in light of new policies aimed at regulating the number of ...

Oil Rises a Second Day on Speculation U.S. Fed May Move to Bolster Economy

Bloomberg - 
Oil rose for a second day in New York after the Federal Reserve said it may take further steps to bolster the US economy, easing concern that crude demand may falter in the world's biggest consumer.

Paxys sells 35% stake in call center firm

Inquirer.net - 
The minority interest in WNS Philippines, a joint venture created in 2008, was sold to WNS Global for P90.88 billion, Paxys disclosed to the Philippine Stock Exchange Wednesday.

Fukushima fission fears deal possible setback to shutdown efforts

National Post (blog) - 
By Shinichi Saoshiro TOKYO - The operator of tsunami-hit nuclear power plant in Japan said on Wednesday it had found substances in a reactor that could be a result of nuclear fission, a possible setback in efforts to bring the plant to a safe, ...

P/$ rate stands at P42.62/$1

Manila Bulletin - 
MANILA, Philippines - The peso exchange rate stands at P42.62 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp.

Treasurer sees no need to raise $500M overseas

BusinessWorld Online Edition - 
THE GOVERNMENT will no longer push through with raising the remaining $500 million of its 2011 commercial borrowing program, a senior official yesterday said.

Guv optimistic on sugar prices

Sun.Star - 
NEGROS Occidental Governor Alfredo Marañon Jr. is optimistic that the price of locally produced sugar will go up while milling continues.

IT/IPO firms are top recruiters in Clark

Malaya - 
Locators in the information technology/business process outsourcing industry in Clark need over 2000 workers, the Clark Development Corp.

European leaders look to China for possible bailout help

Los Angeles Times - 
REPORTING FROM CANNES, FRANCE, AND BEIJING -- If the Greek prime minister hadn't dropped a bombshell this week, all eyes at the Group of 20 meeting might have been on the Chinese president instead.

Crews face rotting cargo on stuck New Zealand ship

Seattle Post Intelligencer - 
In this Wednesday, Nov. 2, 2011, photo provided by Maritime New Zealand, the cargo ship Rena lays stranded on a reef near Tauranga, New Zealand.

Italian Cabinet settles on anti-crisis measures

CanadianBusiness.com - 
By AP | November 02, 2011 ROME (AP) - Italian government officials say the Cabinet has proposed selling off government-owned real estate and privatizing local public companies in a bid to stave off falling victim to Europe's debt crisis.

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