NEWSCAPS
November 13, 2012
(POLITICAL)
I. NBI ON IRA SCAM
 The National Bureau of Investigation (NBI) has urged the
Commission on Audit (COA) to conduct a thorough account on
the Internal Revenue Allocation (IRA) funds given by the national
government to local government units (LGUs) in Mindanao amid
intelligence reports that many of the region’s local officials had
invested the taxpayers’ money in a failed get-rich-quick
investment scheme of a Malaysian-run firm.
 In its report to the Department of Justice (DOJ) dated November
7, 2012, the NBI said that the IRA of some cities, municipalities,
and provinces were invested to the Pasay-based Aman Futures
Group owned by Malaysian businessman Manuel Amalilo.
Amalilo was last tracked by authorities in Singapore three weeks
ago.
II. MAYUGA ON SUBIC WASTE: NOT HAZARDOUS
 Retired Vice Adm. Mateo Mayuga, CEO of Glenn Defense Marine
Philippines Inc., called reports about the company dumping
hazardous wastes from American ships that recently took part in
joint military exercises in the country into Subic bay “inaccurate or
false.”
III. SENATE PROBE ON SUBIC WASTE DUMPING
 Calling for an investigation of the supposed dumping of toxic
waste, Senators Miriam Defensor-Santiago, Loren Legarda and
Aquilino “Koko” Pimentel III filed separate resolutions with the
intent of reviewing the Visiting Forces Agreement (VFA) between
the Philippine and US governments.
IV. BSP ON THE REVIEW OF GOLD TAX
 The Bangko Sentral ng Pilipinas (BSP) has joined the clamor for
a review of the 7-percent tax on gold sales, believing that the
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smuggling of the precious metal out of the country could become
even more rampant if the tax issue remained unresolved. BSP
Deputy Governor Diwa Guinigundo said that their proposal is to
adjust the method of computing the taxes on gold sales.
 Compostela Valley Gov. Arturo Uy said that he had received
numerous complaints from gold traders when the 5-percent
withholding and 2-percent excise tax scheme was implemented
two years ago.
V. SEC. DE LIMA ON NO LIVE COVERAGE FOR TRIAL
 Justice Secretary Leila de Lima questioned the decision of the
Supreme Court (SC) to prohibit live media coverage of the
Maguindanao massacre trial and described it as a “bad
development” in what has been dubbed as the “trial of the century
in the Philippine justice system.”
 “With due respect to the SC, I personally feel that it’s not a good
move, not a good development because the trial needs to be
closely monitored by the people,” she said.
VI. SOTTO PLAGIARISM
 Academics from the University of the Philippines (UP), Ateneo de
Manila University (ADMU) and De La Salle University (DLSU) are
set to file today an ethics complaint against Senate Majority
Leader Vicente Sotto III for allegedly plagiarizing the ideas of
other people in his speeches against the Reproductive Health
(RH) bill.
 Senate President Juan Ponce Enrile, defending Sotto, said that
whatever senators uttered in a privilege speech was covered by
parliamentary immunity.
VII. PEOPLE’s ACTION VS POLITICAL DYNASTIES
 Two political parties called for the holding of a people’s initiative
to end political dynasties in the country, with one party warning
that they would go to the Supreme Court if the authorities
dragged their feet.
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 Ang Kapatiran and Social Justice Society (SJS) parties said that
a people’s initiative for the adoption of a law prohibiting political
dynasties should start now.
VIII. APPEALS OF DISQUALIFIED PARTY-LIST GROUPS
 Disqualified party-list group Ako Bicol (AKB) asked the Supreme
Court (SC) to immediately act on its petition questioning its
disqualification by the Commission on Elections (COMELEC) in
the 2013 polls.
 The high court is set to tackle today AKB’s petition, along with
similar requests filed by three other disqualified partylist groups,
the Association of Philippine Electric Cooperatives (APEC), 1st
Consumer’s Alliance for Rural Energy Inc. (1CARE), and Alliance
of Rural Concerns (ARC).
IX. PH AS ‘BUDGET ENGLISH TEACHER’ OF THE WORLD
 The world’s “budget English teacher.” This was how a recent BBC
News report described the Philippines in highlighting the relatively
cheap access to education in the country compared to other
English-speaking nations. The Bureau of Immigration Student
Desk indicated that as of October 2012, a total of 24,680
foreigners had applied for study permits, which was more than
thrice the applications in 2008, totaling 7,569.
X. SIN TAX BILL
 Senator Miriam Defensor-Santiago warned that the Philippines
would be violating a commitment made in 2005 as a signatory to
the Framework Convention on Tobacco Control (FCTC) if it fails
to raise the so-called sin taxes on cigarettes.
 Santiago pointed out the FCTC specifically requires all
signatories to raise sin taxes on tobacco products and reduce the
prevalence of smoking.
XI. FOI BILL
 Nueva Ecija Rep. Rodolfo Antonino, who has his own version of
the freedom of information (FOI) bill, wants to include a right of
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reply provision, saying that this would be better than having a
separate law for it, as this would limit the instances when
government officials could demand equal media space to air their
side of an issue.
XII. ANTI-TRAFFICKING BILL
 Zambales Rep. Milagros Magsaysay said that the Senate and the
House of Representatives are expected to ratify the proposed
amendments to the Anti-Trafficking in Persons Act before
Congress goes on a break in December, as the Philippines
remains at Tier 2 in the global ranking of countries on human
trafficking cases.
XIII. PRESCHOOL AGE OF 5
 With kindergarten now mandatory under the K to 12 program, the
Department of Education (DepEd) has required preschools and
day care centers to comply with the standard requisite age for
preschoolers. The preschool age should normally be up to 5
years old only, since by 6 years old a child is expected to be in
Grade 1, according to the DepEd.
XIV. OIC MEETING
 “Fireworks” from Moro National Liberation Front (MNLF) founder
Nur Misuari are expected in Djibouti, East Africa, as the
Government of the Republic of the Philippines (GRP), MNLF, and
the Moro Islamic Liberation Front (MILF) attend the 39th Session
of the Council of Foreign Ministers (CFM) of the Organization of
Islamic Cooperation (OIC) on Nov. 15 to 17.
XV. LIFTED BAN ON KOREAN NOODLES
 The Department of Health (DOH) ordered the lifting of ban on six
brands of South Korean noodles after test results with the Food
and Drug Administration (FDA) showed they were safe to eat.
XVI. VP BINAY’s APPEAL FOR OFW
 Vice President Jejomar Binay has asked Saudi Arabia’s King
Abdullah bin Abdulaziz Al Saud to intervene in the looming
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execution of an overseas Filipino worker (OFW) who was
convicted of killing a Sudanese national in Saudi. VP Binay said
that he prepared a letter for King Abdullah, asking him to
intercede in the case of Joselito Lidasan Zapanta.
XVII. PROTESTERS’ HOLLYWOOD MARCH FOR FILIPINO WAR
VETERANS
 As the United States honored its war veterans yesterday, more
than 1,000 Filipino-American protesters marched on the
Hollywood district to demand full recognition for 43,000 Filipino
World War II veterans.
(ECONOMY)
I. NET FDI PLUNGE OF 83%
 FDI posted a net inflow of $13 million in August, down
significantly from $76 million a year ago, BSP data showed.
Nevertheless, this still brought the eight-month figure to $1.038
billion, up 61.2 percent year-on-year and just $162 million short of
BSP’s $1.2-billion forecast for the year. A net inflow indicates
more foreign investments entered the country than left.
II. SALE OF FTI COMPLEX TO AYALA LAND
 After lying idle for years, the sprawling Food Terminal Inc. (FTI)
complex in Taguig City will soon be developed into a commercial
business district. Executives of Ayala Land Inc. (ALI) led by chair
Fernando Zobel de Ayala agreed to purchase the 74-hectare FTI
property for P24.3 billion from the government in a signing
ceremony witnessed by President Aquino yesterday at the
Malacañan Palace.
 Proceeds of the sale will be used to finance the Department of
Agriculture’s agriculture and fisheries modernization program and
projects of the Department of Agrarian Reform.
III. NEDA: PH ECONOMY AN EVOLVING MODEL
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 The National Economic and Development Authority (NEDA) said
the Philippines has an evolving economic growth model that
particularly involves political and administrative innovations
related to good governance. NEDA’s National Planning and
Policy Director Rosemarie G. Edillon said that the model takes
into account public trust in government institutions as a factor for
spurring national development.
IV. CITIGROUP ON INCOME BOOST FROM STATE SPENDING
 Public spending could push up per capita income in the
Philippines, Citigroup, Inc. said, especially if the government
continues to invest in infrastructure. The multinational financial
services firm projected that the average income of Filipinos could
jump to $3,500 by 2016 from last year’s $2,111, adding that
"without deviating from the path of better infrastructure services
with strong governance as a necessary condition, we think
$5,000 is achievable (in 10 years)."
V. CAR SALES
 The Chamber of Automotive Manufacturers of the Philippines,
Inc. (CAMPI) hit its highest monthly sales for the year with 15,081
sold units in October, up 12 percent from last year amid
normalization of supply and promotion activities of different firms
 On a year-to-date basis, Toyota Motor Philippines Corp.
accounted for the biggest share in sales, capturing 42 percent of
the market. Mitsubishi Motors Philippines Corp. came in second
with a 22-percent share. Honda Cars Philippines Inc. was third
with an eight percent share, followed by Isuzu Philippines Corp.
and Ford Philippines with a seven percent and five percent share,
respectively.
VI. T-BILL RATES’ RECORD LOWS
 Treasury bill rates fell to all-time lows across the board, a
development officials said was due to the country’s strong
macroeconomic fundamentals. The 91-day T-bill rate fell by 31.3
basis points (bps) to 0.15%, six-month papers were quoted at
0.45% -- down by 25 bps -- and one-year securities hit 0.68%,
falling by 27 bps to settle at record lows.
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VII. IRAQ ON HIRING OF 2,000 FILIPINO NURSES
 Despite the existing deployment ban, the Iraqi government wants
to hire Filipino doctors and nurses. Health Secretary Enrique Ona
said that Iraqi Ambassador Wadee Al-Batti had paid him a visit,
asking permission to hire some 1,000 to 2,000 Filipino nurses and
doctors.
VIII. BPI ON $5.5-B REMITTANCE
 Ayala-owned Bank of Philippine Islands (BPI) expects its
remittance level to hit $5.5 billion by the end of the year despite
the appreciation of the peso and the slowdown in the economies
where their markets are located.
IX. PSALM ON P60-B BORROWING
 State-run Power Sector Assets and Liabilities Management Corp.
(PSALM) plans to borrow P60 billion from the National
Government for its financing requirements next year, said PSALM
President Emmanuel R. Ledesma, Jr. The amount is PSALM’s
net requirement after taking into account its scheduled
privatization payments and cost of operations.
X. OIL PRICE CUT
 Pump prices further eased today to reflect downward movements
in the international petroleum market. Pilipinas Shell Petroleum
Corp., Phoenix Petroleum Philippines, Inc., Eastern Petroleum
Corp., Chevron Philippines, Inc. and Seaoil Philippines, Inc.
announced price cuts of P0.85 per liter on kerosene and diesel,
and P0.40/liter on regular gasoline.
 Prices of premium and unleaded gasoline remain unchanged.
There have been 19 price increases and 22 cuts on all fuel
products since the beginning of the year.
XI. JAPAN’s ECONOMY
 Japan’s gross domestic product fell an annualized 3.5 percent,
the most since the earthquake and tsunami in early 2011.
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Shipments to Asia, Europe and the US all slid, as did capital
spending, putting pressure on the central bank to add stimulus
and hurting Prime Minister Yoshihiko Noda’s record as he
prepares for elections.
XII. PH STOCK EXCHANGE
 Stocks ended flat, despite notching a new intraday record high,
as investors traded sluggishly in the absence of major marketdriving news to sustain buying. The Philippine Stock Exchange
index (PSEi) rose just 0.03% or 1.91 points to close at 5,470.70,
while the broader all-share index dipped 0.02% or 0.77 point to
3,588.65.
(END)
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