6 reasons why Gloria Macapagal-Arroyo won’t be ousted
February 27, 2008
It surprised me to read from the Philippine Star earlier today that the Moro Islamic Liberation Front (MILF) issued a statement saying they are convinced President Gloria Macapagal-Arroyo (GMA) will not be ousted and will actually be able to finish her term.
With calls for GMA’s ouster coming from all sides of the Philippine society, a neutral stand from a Muslim separatist rebel group is surprisingly unexpected.
The news story quoted the views of MILF Secretariat chief Muhammad Ameen which were posted on the MILF website, www.luwaran.com.
Ameen cited six factors why the current oust-Gloria groups are unlikely to succeed in their advocacy. Here are those six reasons.
Crying Babies - Transcript of Lozada-de Venecia wiretapped conversation
February 21, 2008
The plot thickens in the NBN-ZTE issue.
While the Senate interrogates witnesses in the corruption-laden National Broadband Network project, a video appeared on YouTube supposedly containing the wiretapped conversation between NBN-ZTE “star witness” Jun Lozada and Rep. Joey de Venecia.
The conversation, laced with profanities from both parties, dealt with the supposed bribery in the NBN deal and discussed another potential kickback with regard to the “Chinese embassy thing.”
The Inquirer reported that de Venecia did not deny it was his voice talking about a $130-million kickback allegedly demanded by former Commission on Elections Chairman Benjamin Abalos. He claims it was Abalos who probably masterminded the release of the wiretapped conversation on YouTube.
Listen to the alleged Jun Lozada- Joey de Venecia conversation and read the transcript after the jump.
Edison Chen scandal bigger than other Pinoy sex scandals
February 21, 2008
Nude photos of a famous Hong Kong actor and his sexual partners. Pics and videos of popular celebrities in various sexual acts. More than 1,300 pictures all in all.
Without a doubt, the Pinoys’ sex video scandals pale in comparison to Hong Kong’s The Edison Chen sex scandal.
It all started with an Apple Powerbook. In 2006, the “Cotton Candy Mac” of Edison Chen (Chinese names: Kwoon-Hei, Guan Xi), popular Hong Kong actor, singer, and record producer, was sent in to a shop for repairs.
The computer apparently contained hundreds of pictures and several videos of Chen during intimate moments with his sexual partners, more than a dozen of whom are equally popular celebrities in Hong Kong.
The photos were allegedly copied by technicians of the shop but surprisingly found their way to the internet only early this year. The first racy pic — presumably showing Chen and actress Gillian Chung having sex — was said to be posted on a Hong Kong discussion board on January 27. From then on, the photos spread like wildfire not just in Hong Kong but in other countries.
(NSFW - Not safe for work pics after the jump.)
Yahoo rejects Microsoft bid; Google to buy CNET?
February 10, 2008
Too cheap.
That’s basically Yahoo!’s response to Microsoft’s unsolicited offer of $44.6 billion. Media reports are abound that Yahoo! is set to reject the world’s largest software maker’s acquisition bid.
According to an insider, the board decided that Microsoft’s $31-a-share offer “massively undervalues” Yahoo!. The company is unlikely to consider any offer below $40 per share, the insider said.
That obviously means Yahoo! is interested in accepting a bid offer, as long as the price is right.
It still is all about the money, baby.
Google to acquire CNET?
And what’s this?
Google is rumored to be eyeing tech news provider CNET as its latest acquisition. Nothing is finalized or confirmed, but the rumor is enough to bump up the CNET stock by 7% to $8.09 on February 8.
Is it happening or not? Ironically, the answer cannot simply be Googled.
Coming soon: Microsoft-Yahoo vs. Google?
February 1, 2008
If you’re Microsoft Corporation, what do you do to challenge Google’s dominance in the online advertising industry?
You acquire another search engine, albeit struggling, company such as Yahoo!.
That seems to be Microsoft’s plan when it submitted an unsolicited takeover bid of $44.6 billion.
The offer of $31 per share is a 62% premium to Yahoo! stock’s closing price on Thursday. Yahoo climbed $10.40 a share, or 54%, to $29.58 in premarket trading after the announcement.
US Federal Reserve cuts interest rate by 0.75 points
January 22, 2008
In a surprise move, the US Federal Reserve cut today the federal funds rate by three-quarters of a percentage point, in an attempt to fan the increased fears of a recession in the US economy.
The federal funds rate, the interest that banks charge each other on overnight loans, was slashed from 4.25% to to 3.5% on January 22, Tuesday, and was the biggest one-day move by the central bank in recent memory.
The decision was taken during an emergency telephone conference with Fed officials on Monday night. The move caught the financial markets by surprise because the Fed is slated to deliberate on the rate cut not this week but next week.
In a brief statement, the Fed said it decided to cut the federal funds rate “in view of a weakening of the economic outlook and increasing downside risks to growth.”
The move was made before markets had opened in the United States, hoping that the interest rate cut would limit the expected decline in U.S. stocks.
At the opening bell, the Dow Jones lost 300 points and fell even further by 465 points, but managed to rebound to close at 11,971.19, 1% higher from last week’s trading.
Will the Philippine stock market reverse its current trend of decline to follow the American stock market’s performance? We find out in a few hours.
Official list of Philippine holidays for 2008
January 16, 2008
Below is a list of official holidays in the Philippines for 2008. Got any plans for the long weekends? Enjoy! Wohoo!
Richest 10% owns 1/3 of incomes in the Philippines
January 12, 2008
An Inquirer article published today reported that the richest 10% of families in the Philippines holds more than a third of the country’s total income.
According to the National Statistics Office, the richest 1.74 million families earned 36% of the aggregate family income of around P3 trillion ($74 billion) in 2006.
Who are these families? Well, they include the Ayalas, the Sys, the Tans, the Tys, and the rest of the 40 richest Filipinos.
How about the family of Juan de la Cruz? According to the same report, the average income of a Filipino family is $12 a day or $4,380 a year, or roughly P180,000 per year.
How to deal with the falling dollar
January 8, 2008
A lot has already been written explaining the reasons behind the fall of the US Dollar but very, very few have offered solutions on how to deal with it. Here we give some suggestions on how to face the challenge of a depreciating dollar.
The fall of the US Dollar is very much apparent in the Philippines, where the Peso currency appreciated by as much as 18.8% in 2007, making it the year’s best performing currency in Asia.
Although the peso rise has brought economic benefits such as lower inflation and higher purchasing power, it also hurts exporters who are currently struggling with rising prices and Overseas Filipino Workers (OFWs) and their families who are now getting less from their dollar earnings.
What to do then to deal with a depreciating dollar and appreciating peso?
Funny, odd news this Christmas
December 26, 2007
It’s Christmas time now but that doesn’t stop people from making weird or absurd things. Here’s a collection of funny and odd stories related to Christmas that we spotted on several news websites.
Enjoy the holidays and enjoy these holiday stories!
#1 - Thieves steal Noche Buena Christmas food
Three men held up a Goldilocks store in Pasig City just before closing time on Christmas Eve, taking with them not only cash and personal belongings of the victims, but also a large box of puto, a type of rice cake considered to be one of the store’s specialties.
In a separate incident, a taxi cab driver ran away with a lechon (roast pig) that was supposed to be delivered to a house in Quezon City on December 24.
