Oil prices cuts-off below $45 per barrel
Oil prices continue to decline below $45 a barrel Friday in reaction to fresh evidence of the US recession and news that a $14 billion emergency bailout for US automakers had collapsed in the Senate.
The decline passed over most of the strong gains made in the previous day’s session, but traders said expectations of an important production cut by OPEC would help keep a floor under prices.
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Manny’s wife will not be around at ringside during the Dream Match
Jinkee Pacquiao will not be at the MGM Grand Hotel ringside when her husband fights Oscar de la Hoya on December 7 (December 6, US time).
Pacquiao is eight months pregnant with her fourth child with the Filipino world champion, making it delicate for her to watch a bout expected to be tenser than any of her husband’s previous fights.
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Roll Back on Oil Price Continues Until 2008 Year Ends
The Energy department on Tuesday said consumers can expect more pump price cuts as the year ends due to the continued softening of world oil prices.
This after independent industry participant Seaoil Philippines, Inc., said it has cut prices by P2 per liter for diesel, and P1 for gasoline and kerosene as of 2 p.m. Tuesday, bringing its diesel price to P35.98/liter, unleaded gasoline to P38.50 and premium gasoline to P40.
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CBCP Not Tended to Receive JDV Money
The president of the Catholic Bishops Conference of the Philippines on Monday said he is not tended to receive the alleged P500,000 bribe given to former Speaker Jose de Venecia by a Palace emissary last year.
During interview, CBCP president Archbishop Angel Lagdameo said he does not know the history of the money although it could be one of the “cash gifts” given by Malacañang to congressmen who would endorse, and then dismiss, a weak impeachment complaint against President Arroyo.
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Former House Speaker accuses Arroyo of committing ‘impropriety’
MANILA, Philippines - A former key ally of President Gloria Macapagal Arroyo accused her Sunday of committing “a major impropriety” for allegedly socializing with officials from a Chinese company that was seeking a contract with her government.
The House of Representatives is recently considering an impeachment complaint against Arroyo that maintains she approved the granting of a $300 million national broadband contract to China’s ZTE Corp. in 2007 despite knowledge that the deal was ruined with bribery allegations.
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More Filipinos Suffers Poverty
Most Filipinos say they are worse off now than a year ago as the country’s economy continues to suffer the microseisms of the global economic crisis, results of the latest Pulse Asia survey said Thursday.
Pulse Asia conducted a survey among 1,200 individuals nationwide from Oct. 14 to 27, 2008, depicted that glumness is predominant among Pinoys across all geographic areas and socio-economic classes with 58 percent of respondents saying that they are worse off now than last year.
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Manny Villar Resigns as Senate President; Juan Ponce Enrile takes over Post
Senator Manuel “Manny” Villar announced his resignation as Senate president on Monday among rumors that majority of the senators were out to oust him. Earlier in the day, rumors were prevalent that a petition for Villar’s ouster was circulating.
“My dear colleagues in this august chamber, the tenure of the Senate President - as everyone knows - depends on the number of members that supports him or her. I was informed this afternoon I no longer have the support of majority of my colleagues,” Villar said in his opening statement after declaring the start of the session.
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Bolante says Arroyo was Never Involved in Fertilizer Find Mess
Former Agriculture undersecretary Jocelyn “Joc-Joc” Bolante cleared that President Gloria Macapagal Arroyo was never involved in the multimillion fertilizer fund scam.
Appearing before the reopened Senate probe on the anomaly, Bolante also said it was the Department of Budget and Management (DBM) which approved the P728-million farm input and farm implement program in 2004.
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Miss Philippines Grabs the 2008 Miss Earth Crown
Miss Philippines’ Karla Paula Henry was crowned as this year’s Miss Earth, during the Coronation Night held at the Clark Expo Ampitheater in Pampanga Sunday evening. She beat around eighty-five beauties from around the world declared their personal environmental campaigns, with the theme for this year’s competition focused on “green lifestyle” during the event.
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Bandits Getting Paid 1.8M for Kidnapped Nurse’s Freedom in Basilan
Zamboanga City, Philippines – A total of P1.8 million (US$37,000) was paid to gunmen in the southern island province of Basilan for the freedom of a nurse who was kidnapped on July 7, the victim’s family said on Saturday.
The Abu Sayyaf militants freed Preciosa Feliciano, 24, late Friday on a remote village in Basilan’s Tipo-Tipo town after a series of negotiations.
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