• Most Popular
  • Most Shared

PRESS DIGEST - Philippine newspapers - Dec 11

Wed Dec 10, 2008 8:00pm EST

Stocks

   

MANILA, Dec 11 (Reuters) - These are the leading stories in Manila newspapers on Thursday. Reuters has not verified these stories.

- Church groups will lead tomorrow's multisectoral rally against Charter Change, the first of such major demonstration since President Gloria Macapagal Arroyo's allies revived moves to the amend the Constitution and possibly postpone the 2010 national polls. (PHILIPPINE DAILY INQUIRER)

- Former agriculture undersecretary Jocelyn Bolante was released from Senate custody, but the Blue Ribbon committee filed two criminal charges against him with the Department of Justice in connection with the alleged misuse of fertiliser funds. (ALL PAPERS)

- Government anti-corruption efforts are largely toothless, according to a poll of businessmen by Transparency International, with the customs and tax bureaus, and the police viewed as the most crooked. (BUSINESSWORLD)

**********

BUSINESS

- Credit rating agency Moody's Investor Service revised its outlook on the Philippine banking industry from stable to negative, saying the challenging global environment could dampen bank earnings and trigger a rise in loan delinquency. (PHILIPPINE DAILY INQUIRER, BUSINESSWORLD, THE MANILA TIMES, THE PHILIPPINE STAR)

- SM Prime Holdings Inc (SMPH.PS), the country's largest mall developer will borrow 5 billion pesos ($104 million) next year to pay off maturing debts and fund expansion amid the global credit crisis. (BUSINESSWORLD, PHILIPPINE DAILY INQUIRER, THE MANILA TIMES)

- The Philippine unit of shipbuilding giant Hanjin Heavy Industries (003480.KS) of Korea said it is on track to deliver at least 15 vessels next year at its $1.6 billion shipyard in Subic Bay Freeport. ($1 = 48.25 peso) (Reporting by Karen Lema)



More from Reuters

Exclusive: U.S. business investment showing life

CHICAGO (Reuters) - A trade group for the lenders that finance half the capital equipment investment in the United States said on Tuesday the sharp pullback in business borrowing that marked the recent downturn moderated markedly in November -- an encouraging sign companies may be growing more confident in the sustainability of the recovery.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
Soldiers look on as U.S. Secretary of Defense Robert Gates speaks to soldiers at F.O.B. Warrior in Kirkuk, Iraq December 11, 2009. REUTERS/Justin Sullivan/Pool

Are you pregnant? Sir! No, Sir!

There are some 115,000 U.S. troops in Iraq -- and one commander wants to make sure his soldiers don't multiply.  Full Article 

Politics