President Gloria Macapagal-Arroyo has approved a recommendation declaring a state of calamity in Mindanao, allowing government to use disaster funds to address the power crisis besetting the Philippines’ second-largest island.
This was disclosed on Thursday by Mindanao Development Authority chairman Jesus Dureza, who, until last year, was the Arroyo government’s press secretary.
SURIGAO DEL NORTE , Philippines – Liberal Party (LP) presidential bet Sen. Benigno “Noynoy” Aquino III yesterday warned that President Arroyo’s assurance of a smooth turnover to the next president may be a hollow one.
Aquino said there are indications that Mrs. Arroyo could have been making decisions to ensure her stay in power beyond her term of office on June 30, citing the appointment of Maj. Gen. Delfin Bangit as the new chief of the Armed Forces of the Philippines (AFP).
The central bank on Thursday said it was phasing out liquidity-enhancing measures as part of a continuing move to tighten monetary policy to control money in the financial system amid the recovering economy.
The policy-making Monetary Board cut its budget for short-term loans to banks under its rediscount facility by a third to P40 billion, even as it kept benchmark interest rates steady.
Mall tycoon Henry Sy and tobacco and beer magnate Lucio Tan stayed on Forbes magazine’s billionaire list this year at 201st and 582nd, respectively.
Forbes placed Sy and family’s net worth at $4.2 billion (P192.02 billion), and Tan and family at $1.7 billion (P77.72 billion).
ARLINGTON, Texas — The brand new and extremely modern Dallas Cowboys Stadium easily stands out here in Arlington.
The $1.2 billion-stadium is the home of the popular Dallas football team, but this Saturday (Sunday in Manila), it plays host to the boxing championship fight of pound-for-pound king Manny Pacquiao and Joshua Clottey from Ghana.
Jaime Zobel de Ayala
Rhian Ramos