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A senator on Thursday called on President Arroyo to tell the truth about her reported "secret meeting" with executives of ZTE Corp. in Shenzhen, China in November 2006, a few months before the government awarded the contract for the national broadband network project to the Chinese company.
Sen. Manuel Roxas II, one of the co-chairmen of the Senate probe into the ZTE-NBN controversy, said President Arroyo as a public official is bound by "delicadeza" not to meet with prospective suppliers or other interested parties in government projects while contracts are still pending.
The senator also scored Malacañang officials for dismissing the meeting simply as a "private social meeting."
"All official activities of the President are imbued with public interest and subject to full transparency, unless they involve sensitive matters of national security, which was not the case in the Shenzhen visit," he said.
He said the President should disclose the agenda and nature of her trip to Shenzhen.
He said if Mrs. Arroyo wont explain her trip the public might misconstrue it as the reason behind the governments decision to shift its procurement preference for the NBN from build-operate-transfer to a straight-out government loan.
On Wednesday Executive Secretary Eduardo Ermita confirmed that the First Couples "social lunch" with ZTE officials but denied that they discussed the scrapped deal.

Ermita said the November 2, 2006 meeting was part of her official schedule.
In an exclusive ABS-CBN News interview, the new witness, identified as "Alex", said the President's group left the Four Seasons Hotel in Hong Kong on Nov. 2, 2006 at exactly 8:30 a.m. for the trip to Shenzhen.
He said the visit was kept a secret since there were no welcome banners at the boundaries of the two cities, which is the usual practice for state visits.
He added that the President's group was given a grand tour inside the ZTE office before they were invited for a private luncheon meeting.
Sen. Alan Peter Cayetano on Wednesday said he would reopen the Senate investigation on the broadband deal even as he urged Mrs. Arroyo to respond to Alex's allegations.

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An Ombudsman investigating panel has turned down a petition to subpoena President Arroyo regarding the National Broadband Network deal with China's ZTE Corp..

The Ombudsmans panel, led by Deputy Ombudsman Emilio Gonzales III, denied the request based on the constitutional provision that gives a sitting President immunity from prosecution.

The ruling prompted public interest lawyer Harry Roque, a co-complainant and counsel for petitioner Vice-President Teofisto Guingona, to walk out of the hearing on the NBN graft inquiry before the Ombudsman.

"Assuming the President has immunity from prosecution, that does not mean that she has immunity from investigation, especially if the investigation is being conducted by the Office of the Ombudsman," Roque told radio dzMM.

The lawyer said the Ombudsmans decision undermined its power to make public officials accountable, including the President. He said the Ombudsmans refusal to subpoena Mrs. Arroyo means the investigating body has already dismissed the complaints filed against her.

Roque said he will petition the Supreme Court to overturn the Ombudsman's decision on the subpoena for Mrs. Arroyo.

Senate witnesses Jose de Venecia III and Rodolfo Noel "Jun" Lozada Jr. earlier revealed that the $329-million NBN deal with ZTE Corp. of China was overpriced by $130 million.

Both witnesses testified that the President's husband, Jose Miguel Arroyo, and former elections chief Benjamin Abalos Sr. brokered the deal.

Mrs. Arroyo canceled the deal in October 2007 after the NBN-ZTE anomalies were disclosed in Senate hearings.

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By EDITH REGALADO
The Philippine Star BANGKOK – Fewer Filipinos are now working here as musicians or entertainers, and more are coming in as health workers, according to Philippine ambassador Antonio Rodriguez.
"Filipino musicians have always been and still continue to be a come-on, especially in the different hotel lounges and music bars here. But there has recently been fewer of them who come here to perform," Rodriguez said.
Rodriguez did not cite figures but he attributed the decline to less attractive remuneration and to cost-cutting measures by many entertainment establishments, which now prefer lower-paid local talents.
"The rates offered for performers here now have become lower so that it is no longer cost-effective for our Filipino musicians who still have to pay for their subsistence while in Thailand," Rodriguez said.
But the ambassador said Filipinos are becoming more ubiquitous at Bangkok hospitals and other medical institutions.
"We have noticed that in almost every hospital here in Bangkok, we already have Filipino health workers," he said.
Rodriguez said there are around 7,000 documented Filipinos in Thailand, many of whom are in teaching jobs.
"Our Filipino teachers have been hired to teach mostly English," Rodriguez told The STAR.
But Rodriguez said the terms of compensation for Filipino teachers in Thailand leave much to be desired.
"The salaries of these teachers are on a negotiation basis. It is not something that is clearly stipulated on a standard rate. So, what they have here is, when they hire teachers, the salary would be based on how much would come out in the negotiation between the employer and the employee," Rodriguez said.
He explained that Thai employers prefer younger Filipino teachers who have weaker bargaining power, unlike their more experienced counterparts who command higher salaries.

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Commission on Elections Chairman Jose Melo lauded on Thursday the government's order for Moro Islamic Liberation Front elements to leave areas in North Cotabato that they allegedly forcibly occupied within 24 hours or else be forcibly ejected by government security forces.

That is the way government should react. We should not let lawless elements to occupy and terrorize residents. That is welcome news for me, said the COMELEC chief who is in the thick of preparations for elections in Autonomous Region in Muslim Mindanao set on August 11.

Melo said however that COMELEC field personnel are fearful of a possible spillover of violence to ARMM areas that would eventually affect the upcoming elections.

There may be some action because this is the border. The MILF may retreat or go to Maguindanao but at most, three or four towns may be affected if at all, said the poll body chief.

Melo said the elections will push through as scheduled and trusts the Armed Forces of the Philippines and Philippine National Police to ensure peace and order in ARMM.

Melo said he expects voters turnout to be not very very high because the race in the regional polls is not intense. But this is not reason for people to go out and vote, also to test the computers.

COMELEC spokesperson James Jimenez meanwhile noted that there is a namumuong climate of fear and may depress the turnout a little. He said however that turnout is not a big issue for the poll body.

Commissioner Nicodemo Ferrer meantime, who is also the poll bodys commissioner-in-charge for Basilan, said he is optimistic there will be no spillover of violence in Basilan. Ferrer added there has been no sighting of the bandit group Abu Sayyaf in Basilan.

Three battalions to NCotabato
Interior Secretary Ronaldo Puno announced Thursday that three battalions of policemen will be deployed to North Cotabato to clear at least nine villages of suspected MILF members and armed civilian volunteer organizations ,.

Puno said he ordered Director General Avelino Razon Jr., PNP chief, to immediately order the deployment and investigation of the reported atrocities committed by the alleged rebels and CVOs in the North Cotabato villages.

There are other reports that there are CVOs that are particularly in the municipality of Aleosan moving around openly with arms, Puno said, adding that local executives in North Cotabato should be reminded that CVOs are not allowed to carry firearms.

Puno also announced that nine villages in three towns of North Cotabato have been forcibly occupied by member of the MILF's 105th Base Command under a certain Commander Umbrajado.

He said that after a National Security Council meeting on Wednesday night, chief peace adviser Hermogenes Esperon Jr. was ordered to tell his counterparts in the MILF to control Umbrajado's men.

He said if the MILF fails to remove the rebels in the villages, a joint task group of the police and the military will use force to push out the rebels.

Puno said that among the areas being occupied by the MILF rebels were the villages of Bago Libas, Dualing and Pagangan in Aleosan town; Cagpangi and Gumaga villages in Libungan town; and the villages of Central Labas, Upper Labas, Rangaban, and Baliki in Midsayap.

He said there are also some areas forcibly occupied by rebels in Pigkawayan and Northern Kabuntalan towns.

The interior secretary said the rebels have been attacking Christian residents since July 1. Among the atrocities committed by the rebels were burning of houses, destruction of plantations, looting of properties and cattle rustling, he said.

MILF: No such thing
A spokesman of the MILF denied Thursday that the armed group is forcibly or illegally occupying lands in nine villages in five towns of North Cotabato.

Eid Kabalu, a spokesman of the MILF, told ANC's Dateline Philippines that the MILF is not occupying other people's properties in North Cotabato as alleged by reports sent to the government.

There is no such thing, he said.

Kabalu admitted that there were around 1,500 families displaced in North Cotabato, but said this was due to armed conflict with paramilitary forces or CVOs under the control of local officials.

He said skirmishes between the MILF and CVOs, particularly in Aleosan, North Cotabato, started as early as July 1, and not after the Supreme Court stopped Monday the scheduled signing the following day of the ancestral domain agreement between government peace negotiators and the MILF.

He also denied the MILF burned houses and engaged in looting in some villages in North Cotabato.

Elections gun ban coverage expanded
COMELEC meanwhile expanded on Thursday the coverage of the gun ban in relation to the ARMM elections.

Ferrer said that the coverage of the prohibition on carrying of firearms without COMELEC authorization now includes Cotabato City, Isabela City in Basilan and a third area.

Ferrer said the poll body saw the need to expand the coverage since the areas are right across the ARMM and violators of the gun ban may run across these areas.

Ferrer noted that civilian volunteer organizations who did not apply for exemption are covered by the gun ban.

But so far, there have been no complaints yet and we leave it to the AFP and PNP to enforce the gun ban. Ferrer said adding that COMELEC may find later the need to further expand the coverage of the gun ban and make the necessary amendments in the resolution in view of the tension in North Cotabato. With reports from Willard Cheng, ABS-CBN News

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TOKYO - About 200 Indonesian nurses and caregivers arrived in Japan Thursday as Asia's largest economy gradually opens up to foreign workers to try to ward off future labor shortages.

The arrival of the foreign nurses in the country, which tightly controls immigration, comes as this greying nation struggles to support a growing mass of pensioners, even as Japanese have fewer children.

The nurses are the first batch of full-time health workers accepted under a free trade pact between Japan and Indonesia that took effect on July 1. They will work full-time in hospitals and nursing-care facilities.

Japan will accept a maximum of 1,000 Indonesian caregivers and nurses over two years, with half of them arriving this year.

It has also agreed to accept health care workers from the Philippines once a free trade agreement between the two countries takes effect.

Under the deal with Indonesia, the workers will need to acquire Japanese qualifications if they hope to stay longer than three years in the case of nurses, and four years in the case of caregivers.

The first group will also take six months of Japanese lessons before starting work.

But partly due to difficulties matching workers with facilities and the lack of a national qualification for caregivers in Indonesia, the number of applications remains sluggish, said foreign ministry official Kazuya Kaneko.

We expect that the applicants for working in Japan will increase next year when Indonesia prepares its own educational course for candidates for caregivers, Kaneko said.

He said the Indonesian candidates applying this year to become permanent workers here were already qualified in their home country.

The nurses arriving in Japan said they were eager to start work.

I will do my best and I want to care for elderly people, a male worker arriving at a Tokyo airport told local television.

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Four survivors of the ill-fated M/V Princess of the Stars, which capsized off Sibuyan Island, Romblon, were airlifted to Manila from Romblon on Monday.

The four survivors who were brought to the capital are Jesus Gica, Jessie Buot, Renato Lanurias, and Oliver Amorin.

Aboard a presidential helicopter, the four men arrived at the Villamor Airbase early evening Monday.

The four men - the first survivors coming from the Cebu-bound ship - were found at the shores of San Fernando, Romblon by rescue workers Sunday. With reports from Jay Ruiz, ABS-CBN News

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Mapua Tech sure knows how to beat the best. But when pitted against one of the worst, it remained clueless.

In a match where it was expected to lose, St. Benilde surprisingly brought in its A-game as it pulled the rug from under a heavily favored Mapua Tech, 66-56, Wednesday to breathe new life to its flickering Final Four hopes in NCAA Season 84 at the Astrodome.

Jeff Morial led all scorers with 18 points as the Blazers notched their fourth win against seven losses to remain in the hunt for a berth in the next phase.

Its a relief after so many frustrating losses, said St. Benilde coach Gee Abanilla.

The Cardinals absorbed their fifth loss against the same number of wins, including a king-sized 53-48 shock win over the three-peat seeking San Beda Lions.

San Sebastian 76, Letran 73

For three quarters, Jason Ballesteros was busy plucking rebounds, blocking shots and intimidating several others. In the fourth quarter, he turned to scoring.

Drawing strength from the suddenly prolific Ballesteros, San Sebastian surprised Letran, 76-73, to inch closer to the leaders by booking its sixth straight win and seventh overall in 11 outings.

The 67 Ballesteros, a 22-year-old native of Pangasinan, scored nine of his 11 points in the last 4.15 minutes he spiked with 14 boards and three blocks that helped turn back the Knights in the stretch.

Defense is his cup of tea but he can score if theres an opportunity, thats what he did in this game, said San Sebastian mentor Jorge Gallent, owner of five straight titles in the PBL.

The triumph sent San Sebastian half a game behind Letran and San Beda, both tied at second place on 7-3 slates, and a game and a half behind Jose Rizal, which leads the league with an 8-3 record.

Now that were here, we might as well dream big and shoot for the No. 1 seed, said Gallent, owner of a rare five-peat feat with Harbour Centre in the PBL.

Jim Viray waxed hot early by draining five booming treys to finish with 22 points.

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Corazon Balweg, widow of the late rebel priest Conrado Balweg, was laid to rest in a traditional Tinggian ceremony Friday, ABS-CBN Regional Network Group reported Monday.

Mrs. Balweg died of cardiac arrest last March 11 in Camp Upi in Gamu, Isabela, due to exhaustion after monitoring livelihood and integration programs of the Cordillera People's Liberation Army .

Like most people buried in the Tinggian tribal tradition, Balweg's body was serenaded night and day by songs that bade farewell.

On Friday morning, at exactly 8 a.m., her body was brought to the San Lorenzo Ruiz Parish Church in Bangued, Abra, for last rites.

Her children, relatives, and friends tried to fight back tears during the mass.

She was laid to rest beside her husband.

Balweg, who was known as Ka Loida during her days with the communist movement, followed her husband in forming the CPLA, and became the group's chief of staff.

Like her husband, Balweg fought for the autonomy of the Cordillera region.

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Letran College came into Fridays game with a winning formula -- play tough defense and go to RJ Jazul in the clutch.
Brandishing these weapons to perfection, the Knights bludgeoned the already bleeding Philippine Christian U Dolphins, 73-62, to jump from a share of first with the San Beda Red Lions to the solo lead in Season 84 of the NCAA basketball tournament at the Cuneta Astrodome.
Jazul blowtorched the opposition with 20 points including six in the second quarter when the Muralla-based dribblers erected a double-digit separation and seven in the final canto that doused cold water to the Blazers last gasp fight back.
The 22-year-old Pasay City natives superb scoring came a week after he unleashed a season and personal high 37-point explosion in an emphatic 88-75 victory over College of St. Benilde.
While Jazul did his thing on the offensive end, Letrans defense got the job done on the other side.
The Big D that won the Knights four championships in the last decade punished PCUs Big Three -- Beau Belga, Lisztian Amparado and Leimar Navarro -- so much that troika had to bleed for their points.
The three could only score 20 points combined, way, way behind their usual norms ranging in the double digits.
"I keep telling the players to play tough defense particularly on these three," said Letran coach Louie Alas referring to Belga, Amparado and Navarro.
Not even the street smarts of Belga, who sharpened his play by suiting for many-time PBL champion Harbour Centre, could save PCU from absorbing a fourth loss in row.
"We know Belga is street smart and hed be bringing the ball again all game. Thats why I told my big guys to sacrifice in making life difficult for him," said Alas.
Mapua Tech 63, St. Benilde 57
Nothing, not even MVP Kelvin dela Penas off day, could prevent Mapua Tech from dishing out its best.
Rookie Allan Mangahas and Teegee Guillermo came through when dela Pena struggled as the Cardinals brushed back the Blazers, 63-57, to notch their fourth straight win in five outings.
Mangahas, who played high school ball for PCU High, sizzled with 17 points he highlighted with seven huge points in the last period while Guillermo chipped in 14 in a pair of superb performances that impressed their coach.
"They stepped up big," said Mapua Tech mentor Leo Isaac.
Dela Pena actually didnt play that bad as he finished with eight rebounds, four assists and four steals to make up for a lethargic seven-point output.
It was the Blazers third straight setback after pulling off two head-turning wins early in the tournament.

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By JESUS F. LLANTO
abs-cbnNews.com/Newsbreak

It is like hitting two birds in one shot.

Faced with a shrinking talent pool, business process outsourcing companies are using their corporate social responsibility programs not just to help local communities but also to attract and train potential employees.

During the CSR Conference 2008 held in Makati recently, BPO executives said that more than improving the lives of communities, most of their CSR programs, particularly those that focus on education, have helped them build potential pool of workers and meet their demand for skilled workers.

Industry experts said most of their external CSR programs put emphasis in education and training of college students to address the mismatch between the quality of the supply of workers and the needs of the industry.

BPO firms have undertaken educational projects like establishing schools that offer free training on information technology , donations of computers to schools, and offering and sharing technical expertise in drafting courses in colleges and universities.

Beth Lui, country manager of Accenture, said that aside from giving their workers a chance to share their talents and expertise by volunteering to train students, their CSR program also helps build a pool of IT-enabled talent pool.

"We are getting our employees to step out of the workplace and do something good for others," said Lui adding that their employees are involved in coaching and mentoring the trainees and teaching basic computer skills to students.

Free training and more

Accenture's CSR programs for education also include internships, team teaching, and providing elective classes to students. Lui added that they invite top students to participate in these programs and bring them to the workplace. The company also developed a curriculum and tie-ups with some universities to offer an elective that will familiarize students with the industry.

"We want to bridge the gap between the qualifications of the college graduates and the requirements of the industry," Lui said.
On the other hand, Sitel established Sitel Academy that provides free 30-day trainings to college students, recent graduates and to people who want to shift careers. It also gives 100 hours of re-training to the near-hires and brings its programs to far flung areas like Benguet to tap alternative potential market.

"We want and need to increase the yield of quality knowledge workers," said Dan Reyes, president of Sitel, adding that the supply of workers is crucial in maintaining the Philippine's position as a top outsourcing destination.

RP is outsourcing destination

The Philippines is cited by the United Kingdom's National Outsourcing Association as the outsourcing destination for 2007.

The Business Process Association of the Philippines , an umbrella organization of BPO firms, estimates that by 2010 the industry can provide one million jobs and generate US$13 billion revenues, or a 10 percent share of the global market.

As of 2007, around 320,000 workers are employed by the industry. This means that BPO firms need to recruit more than 600,000 in the next two years to meet the future demand.

Companies, however, have been complaining of low English proficiency among applicants and low recruitment yield. Experts said that only around 6-20 percent of the applicants are qualified to work in the industry.

Reyes pointed out that free training provided by the BPO companies does not only produce qualified applicants but also yields workers who are most likely to stay longer in their jobs. "Trainees become loyal employees and attrition is lower by 50 percent among them."

Meanwhile, Josie Gonzales, executive director of SPi, said that aside from CSR programs that can help attract potential employees, companies should also focus in implementing programs that will improve talent retention.

Gonzales said that there should be incentives for workers who stay longer, security pay and activities that will ensure work-life balance.

Gonzales said recruitment and training of workers is very expensive. "The most important thing is to retain them."

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By YASMIN PASCUAL-DORMIDO
ABS-CBN Bacolod
Thousands of families were displaced after flashfloods destroyed several houses in five villages in Hinobaan, Negros Occidental, reports said Thursday.
The provincial office of the Department of Social Welfare and Development said the villages of Talacagay, Pook, and Sangke were severely affected by the flooding.
It said a total of 1,079 families or 5,821 persons in San Enrique town were displaced by flashfloods.
Floodwaters also submerged Ilog town and affected 210 residents in Barangay Manalad. Close to 10,000 residents in the towns nine villages were also affected by floods.
Meanwhile, 18 families in Kabankalan City who had been evacuated were allowed to return to their homes as the flooding in the area has began to recede.

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Conglomerate JG Summit Holdings Inc. reported Tuesday a 33-percent rise in its net profit last year on improvement of its core businesses due to the country's low interest rate environment and robust economy.
In its audited financial statement, the Gokongwei-led company said its net profit in 2007 reached P8.61 billion, compared to P6.46 billion in 2006.
Consolidated revenue went up 7.5 percent to P37.7 billion, owing to the strong performance of the company's operating units.
Food and beverage unit Universal Robina Corp.'s net earnings increased to P5.56 billion from P3.02 billion while that of property developer Robinsons Land Corp. improved to P2.44 billion from P1.72 billion.
JG Summit's telecom business, Digital Telecommunications Philippines Inc., swung to a net profit of P1.17 billion from a loss of P926.9 million in 2006, due to foreign exchange gains.
Cebu Pacific, the conglomerate's transportation arm, posted a net income of P3.61 billion in 2007 as against P196.79 million in the previous year, backed by "a substantial increase in passenger load due to the expansion in both domestic and international routes."
"It must be noted though that P1.9 billion of this net income was due to foreign exchange gains arising out of the translation of the value of its dollar-denominated debt into Philippine pesos," the parent firm said.
Cebu Pacific was eyeing to raise up to P12.87 billion from its initial public offering, which it shelved indefinitely due to market volatility.
The airline had planned to sell 135.46 million shares at a maximum price of P95 each. The listing of the shares were originally scheduled on Feb. 8.

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Reuters

SAN ANTONIO, Venezuela - Colombia accused Venezuelan President Hugo Chavez on Monday of funding Marxist rebels on its soil, intensifying a dispute that has prompted Chavez to send tanks and troops to the border.

A three-nation crisis has erupted since Colombia moved troops into Ecuador at the weekend in a bombing raid that killed a top Colombian rebel leader in his jungle camp.

It was a major blow to the FARC, Latin America's oldest guerrilla group, but the leftist Chavez mobilized his military and warned US-backed Colombia it could start a war if it also struck inside Venezuela.

Colombia's police chief, Gen. Oscar Naranjo, said documents found at the FARC camp in Ecuador showed evidence that Chavez gave the rebels $300 million and had suggested a deal to supply them with old rifles.

Naranjo said the documents also revealed ties between the rebel leader, Raul Reyes, and a representative of Ecuadorean President Rafael Correa's leftist government.

"This unmasks the relations of the FARC with a series of governments, with a series of personalities, some public, some more sinister," Naranjo said, adding that the rebel group also talked about buying of a batch of uranium.

Chavez recently negotiated the release of six hostages held by the FARC and his government rejected Colombia's allegations on Monday. Correa also responded angrily.

"They said we had a pact with terrorists, and that is completely false," he said during a Cabinet meeting in Quito. "We are dealing with an extremely cynical government."

Correa has sent thousands of troops to the border with Colombia and threatened to escalate the diplomatic fight after expelling Colombia's ambassador on Sunday.

But Colombia said it would not send extra troops to its frontiers with Venezuela and Ecuador. Nor did it take any steps to downgrade diplomatic ties.

Bark or bite?

Governments from France to the United States and Brazil tried to defuse the tensions between Colombian President Alvaro Uribe, a staunch conservative, and his left-wing rivals.

"The most important thing today is that we can avoid an escalation of this conflict," Chilean President Michelle Bachelet said.

Traffic was normal in San Antonio at the main border crossing point between Venezuela and Colombia, and while Venezuela and Ecuador said they had reinforced their borders, there was no immediate sign of any mobilization.

One Venezuelan military commander at a major base said his tanks were ready to move to the border but had not mobilized yet.

Venezuela state TV offered blanket coverage of the crisis but it showed no images of tanks, planes or troops moving and no other media reported military movements in the border area.

Despite the leaders' brinkmanship and the risk of military missteps, political analysts said a conflict was unlikely on borders that stretch from parched desert through Andean mountains and jungles to the Pacific Ocean.

Chavez, the leader of a growing bloc of Latin American leftist leaders, may win points with supporters by challenging Uribe but experts say he can ill afford to lose food imports from Colombia just as he tries to combat chronic food shortages in his OPEC nation.

Still, with Chavez warning war could break out, there was immediate impact on the economies of the three Andean nations, which have billions of dollars of cross-border trade.

Venezuelan and Ecuadorean debt and Colombia's currency all lost value on Monday.

"It raises headline risks for all three countries significantly," Gianfranco Bertozzi of Lehman Brothers said.

Colombia justified its incursion into Ecuador by saying that international law allows such actions against terrorists, and it accused Ecuador of allowing the Marxist FARC rebels to take refuge in its territory.

But Ecuador said Colombia deliberately violated its sovereignty and urged Latin American governments to pressure Uribe's government so that it does not repeat the "aggression."

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Agence France-Presse
TOKYO - Share prices fell across Asia on Thursday with Shanghai sliding over six percent after Wall Street losses triggered by fresh jitters about soaring oil prices and the global credit crunch, dealers said.
They said markets were nervous about signs of growing inflationary pressures in the world's major economies, which are still struggling to overcome a US housing slump and related credit squeeze.
Shanghai was the worst hit with a loss of 6.5 percent as investors rushed to sell amid fears of a further deep correction.
Tokyo lost 2.2 percent, Hong Kong fell 2.3 percent, Sydney gave up 1.4 percent, Taipei dropped 2.1 percent and Seoul shed 1.9 percent.
Analysts said investors were worried about the gloomy outlook hanging over China and other regional markets.
Shanghai's 5.2 percent surge on Wednesday "was probably too rapid for the market's own good," Capital Securities' strategist Amy Lin told Dow Jones Newswires.
"When oil prices are still high and inflation worries still intense, the faster stocks rise the more likely they will fall rapidly too."
Shanghai's benchmark Composite Index has tumbled around 20 percent this month.
Europe's main stock markets were also under pressure in early trade, with London down 0.08 percent and Frankfurt 0.36 percent lower.
Investors were spooked by losses on Wall Street Wednesday, when rising oil prices and weak corporate earnings news hit confidence, dealers said.
They said investors were worried that the fallout from the US financial crisis might drag on for longer than previously thought.
"We saw some nasty earnings coming out of the US... and how the general economic environment is weighing on companies," said one trader in Tokyo.
"That's likely to affect sentiment here in Japan and the rest of Asia."
On Wednesday Wall Street's Dow Jones index slid 1.08 percent to close at 12,029.06 points as regional banking group Fifth Third Bancorp said it would seek fresh capital, highlighting ongoing troubles in the banking sector.
"The Nikkei may drop below the 14,000 mark if the Dow closes below the psychologically-key level of 12,000," said Yumi Nishimura, market analyst at Daiwa Securities SMBC. The Nikkei ended Thursday at 14,130.17 points.
Concerns that US banks will suffer fresh losses in the third quarter due to credit market problems may continue to weigh on sentiment, she said.
Adding to concerns, oil prices jumped 2.67 dollars to close at 136.68 dollars per barrel in New York on Wednesday.
New York's main oil futures contract eased to 135.94 dollars in Asian trade on Thursday as investors took profits ahead of a weekend meeting in Saudi Arabia between oil producing and consuming nations, dealers said.

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Reuters

LOS ANGELES - Batman buried his rivals at the North American box office for a second weekend on Sunday, racing past $300 million in a record 10 days.

The Caped Crusader's blockbuster outing, "The Dark Knight," sold an estimated $75.6 million worth of tickets during the three days beginning Friday, taking its total to $314.2 million, distributor Warner Bros. Pictures said.

A week after it scored a record-breaking $158 million opening, "The Dark Knight" added a new title to its impressive list of superlatives: the best second weekend, surpassing the holiday-boosted $72 million haul of 2004's "Shrek 2."

The $180 million movie, which stars Christian Bale as Batman and late actor Heath Ledger as the anarchic Joker, has reportedly been drawing strong repeat business, and also has piqued the interest of people who avoid superhero flicks or rarely go to the movies at all.

"The Dark Knight" now ranks as the second-biggest movie of the year, just behind the $315 million haul of "Iron Man," and the 23rd-biggest of all time.

The previous speed record for a $300 million film was 16 days set by "Pirates of the Caribbean: Dead Man's Chest" in 2006. The next target is $400 million, which took "Shrek 2" 43 days to reach. Warner Bros. distribution president Dan Fellman predicted "The Dark Knight" would take just 18 days to reach that milestone.

"Where we go from there, it's uncharted waters," Fellman said.

The last movie to break $400 million was the 2006 "Pirates of the Caribbean" movie, which ranks No. 6 on the all-time list with $423 million. The 1997 epic "Titanic" leads the field with $601 million.

"Step Brothers" strong

Elsewhere, the Columbia Pictures comedy "Step Brothers," starring Will Ferrell and John C. Reilly as perpetual adolescents, opened surprisingly strongly at No. 2 with $30 million. The 20th Century Fox sci-fi sequel "The X-Files: I Want to Believe" came in at No. 4 with $10.2 million, a figure at the lower end of expectations.

In between, Universal Pictures' ABBA-inspired musical romance "Mamma Mia!" slipped one place to No. 3 with $17.8 million while its 10-day total rose to $62.7 million.

"Step Brothers" represents a strong rebound for Ferrell and Reilly, following their recent respective bombs "Semi-Pro" and "Walk Hard." The actors, along with director Adam McKay, previously worked together in the hit 2006 comedy "Talladega Nights: The Ballad of Ricky Bobby."

Industry pundits had forecast a $25 million opening for the $65 million film, which received mixed reviews from critics. Ferrell and Reilly's emotionally stunted characters are forced to live together when their single parents marry. Two-thirds of the male-skewing audience was aged under 25, Columbia said.

"The X-Files: I Want to Believe" also marks a reunion, this time between former FBI agents Mulder and Scully . But it failed to spark much enthusiasm among fans or critics. Fox said it had targeted an opening in the $10 million to $15 million range.

"We made it for the fans and they have come out," said Chris Aronson, senior VP of distribution at the News Corp-owned studio.

The sci-fi mystery comes to screens six years after the underlying TV series "The X-Files" ended its run, and a decade after the first big-screen spinoff. That film, also called "The X-Files" opened to $30 million on its way to $84 million domestically.

The $30 million sequel marks the third consecutive disappointment in as many weeks for Fox, following the Eddie Murphy comedy "Meet Dave" and then the animated "Space Chimps." The studio, noted for keeping costs down and sharing the risk with outside partners, has had a quiet year highlighted by the early-spring release "Dr. Seuss' Horton Hears a Who," which grossed $154 million domestically. Next up is the August 15 horror film "Mirrors" starring Kiefer Sutherland.

Warner Bros. is a unit of Time Warner Inc. Columbia Pictures is a unit of Sony Corp while Universal Pictures is a unit of General Electric Co.

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Agence France Presse

MANILA - Philippine share prices closed down 2.5 percent Wednesday on continued concerns about inflation and weakness in the US economy, dealers said.

The composite index fell 66.67 points to 2,579.28 points. The all-share index fell 1.67 percent to 1,639.08 points.

Only 23 stocks advanced compared to 87 decliners and 44 unchanged. Turnover fell to 2.797 billion pesos compared to 4.25 billion pesos in the previous trading day.

The local currency traded at 44.482 to the dollar.

"Inflation is still a major concern even though oil prices have fallen slightly," said Rommel Macapagal of Westlink Global Equities Inc.

"The past few weeks, we have been looking for directions and the direction we got was the big drop on Friday in the US market," he said.

"The next support level is 2,550. Hopefully some bargain hunting could come in and lift us above the 2,600 level," he said.

Telecom giant Philippine Long Distance Telephone Co. fell 4.1 percent to 2,335 pesos. Top conglomerate Ayala Corp. dropped 4.9 percent to 290 pesos. Bank of the Philippine Islands fell 1.01 percent to 49 pesos.

San Miguel Corp. saw its A shares, available only to Filipinos, fall 2.4 percent to 40.50 pesos while its B shares, which are available to foreigners, were unchanged at 41 pesos.

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Compared to much weightier issues such as political stability and high oil prices, climate change might seem too tame a subject for one of the most trusted economic advisers of President Arroyo.

Albay Gov. Joey Salceda, however, does not subscribe to this thinking. He says preparing for natural disasters caused by climate change is good economic policy and a task that all local executives should do, post-haste.

Why is climate change so important? Simply because it's a major obstacle, a major hurdle to our achievement of the Millennium Development Goals, he said during a food, energy and climate change conference in Sofitel Hotel in Manila Wednesday.

Climate change is real. That's science. Climate action means no regrets. It doesn't ask me to do anything bad. All it asks from me is to protect and take care of the environment, he added.

Experience adds much needed urgency to Salceda's call. In 2006, at least 100 people were killed and another 10,000 displaced in Albay after typhoons caused deadly mudslides to flow down the slopes of Mayon volcano. According to the Presidential Task Force on Climate Change, the landslides in Albay as well as Guinsaugon, Leyte are just several of the extreme weather events that have affected the country in recent years.

The task force said the Philippines has experienced temperature spikes brought about by climate change, including warming in the northern and southern regions of the country. It said frequent occurrence of extreme events has affected rainfall and inflow patterns of the country's reservoirs.There is also evidence correlating El Niño occurrences with the epidemics on dengue.

International Alert also identified the Philippines as a climate hotspot and ranked it 4th in the Global Climate Risk Index, with 20 out of 80 provinces vulnerable to a one-meter rise in sea level. These provinces are in the Autonomous Region of Muslim Mindanao, the Zamboanga Peninsula, Eastern Visayas and the Bicol Region.

Salceda says the severity of the weather disturbances in Albay prompted him to draft his own climate change and disaster reduction policy for his constituents. He says local government units should act as lead agents for disaster reduction and the not the national government.

Calling his action plan Albay in Action on Climate Change , the program focuses on climate-proof and disaster-proof development in the province by strengthening and improving evacuation sites, introducing climate change curricula to schools and training 720 village officials in climate change adaptation and disaster preparedness.

Policy and action

Salceda says his first resolution as governor specifically mentioned climate change as a key concern of the province. I have the backing of the provincial board to revoke any program of the government if it is harmful to the environment. If I give a quarry permit and your neighbor says that you're polluting the climate, that is a basis for me to revoke the franchise, he explained.

Salceda also introduced the concept of preemptive evacuations in Albay last November. He said thousands of residents near mountain slopes were ordered to evacuate their homes for the safety of schools, public buildings and other evacuation sites before the arrival of large typhoons.

In Albay, we don't evacuate during typhoon signal no. 3, we evacuate during signal no. 1 because it gives us time to do it, he said.

He said the local government also signed an agreement with the University of the Philippines Los Baños to train teachers on climate action. He said UPLB will also develop the curriculum in public schools to include climate action and disaster risk reduction subjects for grade 4 and 5 pupils.

He also formed the Center for Initiatives and Research on Climate Adaptation as a public-private partnership to help evolve climate adaptation priorities in the province. In order to institutionalize adaptation programs in the government, the province has also categorized expenditure on climate adaptations as a mandatory expenditure item.

He says part of the city's climate action and disaster reduction initiatives is the construction of a new town away from Mayon volcano and the relocation of residents near the volcano's permanent danger zone.

Salceda says the local government has also focused on reducing greenhouse gas emissions by ordering power plants to use geothermal energy. He says local power plants now generate about 25 percent of its output from geothermal energy.

The incumbent governor says Albay's climate change policy is a critical balance between mitigation and adaptation. He adds, however, that the disasters that have affected Albay in the past have pushed his constituents to adapt to the changing climate of the times.

Practice does make perfect. The more disaster, the more you will behave properly, he said.

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By REYMA BUAN-DEVEZA



Senator and actor Ramon "Bong" Revilla Jr. cleared the issue on his reported intention to run for vice president in the 2010 national elections.

Revilla said that it is still too early to talk on whether he will run for the vice-presidency.

"Napag-uusapan lang 'yan tuko tukso but you know that will come," the senator said.

"Alam mo napakatagal pa niyan, wala tayong idapat i-rush sa totoo lang 2010 ilang taon pa 'yan ang daming problemang hinaharap natin sa bansa ngayon," Revilla added.

The senator said that right now he is focusing on his legislative work and doing his best to help those who are in need.

"It's still early to say, still two years from now siguro ang priority natin ngayon ay makatulong tayo sa mga mahihirap," Revilla said.

He said that he still considers the idea of running again as a senator in 2010 but he is also open to accept things if fate will give him the chance to run as vice president.

Revilla reiterated his words that he is willing to give way if ever Batangas Governor and showbiz's Star For All Season Vilma Santos would run for the post.

"We should move as one napakaliit lang ng movie industry dapat isa lang ang mundo namin," the senator said.

Bong Revilla or Jose Marie Mortel Bautista in real life is famous for his action films during the 80s and 90s. He is the son of former senator-actor Ramon Revilla.

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Supreme Court denies govt 'M.R.' in collection claim against Pilipinas Shell

By JOEL R. SAN JUAN Business Mirror
THE Bureau of Internal Revenues intensive tax-collection campaign suffered a major setback after the Supreme Court finally ruled that it has no legal basis to collect supposed deficiency excise taxes from major oil firm Pilipinas Shell Petroleum Corp. in the amount of more than P1 billion. The BIR had sued Shell for buying—and using for tax payments—several tax-credit certificates that were later found to have been fraudulently obtained.
In a two-page resolution, the Courts Second Division denied the BIRs motion filed January 23, 2008, seeking the reconsideration of its December 21, 2007, decision which reversed an earlier en banc ruling of the Court of Tax Appeals directing Shell to pay its excise-tax liabilities for the taxable years 1992 and 1994 to 1997.
In the same ruling, the Court reinstated the decision of the CTA Division enjoining the BIR from collecting its assessment for deficiency excise taxes against Shell covering the said period.
"Acting on the Office of the Solicitor Generals motion for reconsideration of the decision dated December 21, 2007, the Court resolves to deny the motion with finality, the basic issues raised therein having been duly considered and passed upon by the Court in aforesaid decision, and no substantial argument having been adduced to warrant the reconsideration sought," the Court said in its latest ruling.
The main point that ran in Shells favor was the Courts argument that while the use of TCCs is laden with a qualifying provision that the transferees of such TCCs are solidarily liable with the transferors in case of fraud and that these certificates are subject to postaudit, there is a limit to the extent or period up to which such liability and postaudit may apply. Otherwise, the Court said, no investor would want to buy TCCs if the possible liability would hang over its head indefinitely.
The Court, meanwhile, has also denied the BIRs motion to refer the case to the Court en banc.
The controversy arose after the BIR declared that the TCCs used by the oil firm to pay for its excise-tax liabilities were fraudulently obtained.
Records show that from 1988 to 1997, Shell paid part of its excise-tax liabilities with TCCs that it acquired through the Department of Finance One-Stop Shop Interagency Tax Credit and Duty Drawback Center from other Board of Investments -registered companies.
Through the Center, Shell acquired for value various Center-issued TCCs which were correspondingly transferred to it by other BOI-registered companies.
Subsequently, when Shell signified its intent to use the TCCs to pay for its deficiency taxes, such payments were approved by the Center through the issuance of tax debit memoranda ; and the BIR also accepted as payments the TCCs by issuing its own TDM covering said TCCs.
However, on April 22, 1998, the BIR sent a collection letter to Shell for alleged deficiency excise-tax liabilities of P1.70 billion for the taxable years 1992 and 1994 to 1997.
The BIR claimed that Shell is not a qualified transferee of the TCCs it acquired from other BOI-registered companies. The BIR denied Shells protest, prompting it to elevate the case before the CTA.
On August 2, 2004, the CTA Division issued a decision granting Shells petition to cancel BIRs tax assessment.
It held that the BIR failed to prove with convincing evidence that the TCCs transferred to Shell were fraudulently issued. It noted that the BIRs claim of fraud "was merely speculative."
However, on April 28, 2006, the CTA en banc reversed the ruling of the CTA Division and ordered Shell to pay the BIR the amount of P570,577,401 as deficiency excise tax.
It also directed the oil firm to pay 20-percent delinquency interest per year from December 4, 1999 until it has fully paid the total deficiency excise tax.
The CTA en banc affirmed the finding of the DOF that the TCCs had no monetary value; thus, there was a nonpayment of excise taxes by Shell.
It also noted that the TCCs carry a "suspensive condition," that is, their issuance was subject to post audit in order to determine if the holder is indeed qualified to use it.
The tax court added that Shell "was not an innocent purchaser for value of the TCCs" as these certificates contained liability clauses expressly stipulating that the transferees are solidarily liable with transferors for any fraudulent act or violation of pertinent rules and regulations relating to the transfer of the TCC.
In reversing the CTA en bancs decision, the High Court pointed out that the tax court erred in holding that the suspensive condition suspends the effectivity of the TCCs as payment until after the post-audit.
The SC stressed that TCCs are immediately valid and effective after their issuance, thus, if these have already been used as payment for the tax liability, a post-audit cannot annul the payment made.
"Moreover, if the TCCs are considered to be subject to post-audit as a suspensive condition, the very purpose of the TCC would be defeated as there would be no guarantee that the TCC would be honored by the government as payment for taxes," the SC said.
"No investor would take the risk of utilizing TCCs if these were subject to a post-audit that may invalidate them, without prescribed grounds or limits as to the exercise of said post-audit," the SC declared.
The Court also noted that based on the records, Shell is considered a transferee "in good faith and for value" since the BIR failed to present evidence that the oil firm is involved in the processing for the approval of the subject TCCs from the different BOI-registered transferors.
It further stressed that Shell secured several approvals before it utilized the transferred TCCs. Shell also relied on the verification by various government agencies concerned of the genuineness and authenticity of the TCCs, as well as the validity of their issuances.
"Thus, it is clear that Shell is a transferee in good faith and for value of the subject TCCs and may not be prejudiced with a reassessment of excise-tax liabilities it has already settled when due with the use of the subject TCCs," the SC said.

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Agence France Presse NEW YORK - By winning the National Basketball Association Draft lottery Tuesday, the Chicago Bulls gave themselves the chance to pick a hometown star with the top pick in next month's NBA Draft. The Bulls, without a coach since sacking Jim Boylan hours after their 33-49 season ended, had only a 1.7 percent chance of landing the top pick in the June 26 draft but defied the odds to capture the top prize on offer. Coincidentally, one of the two top-rated prospects available with the number one selection, point guard Derrick Rose, is from Chicago. Rose averaged 14.9 points a game this past season as a freshman in leading the University of Memphis to the US college finals and a record 38 victories. His main rival for the top spot in the eyes of most scouts is Kansas State big man Michael Beasley, who averaged 26.2 points and 12.4 rebounds in leading the Wildcats into the national college tournament. "We're very excited. Whichever way we go we will get a great player," said Bulls vice president of business operations Steve Schanwald. The Miami Heat, which finished an NBA-worst 15-67 last season, settled for the second pick with Minnesota third as the Bulls, with the ninth-worst record in the league, had more luck than their 13 other non-playoff NBA rivals. The Heat's failure continues a legacy of lottery heartache for the clubs with the worst season records. Only four have taken the top pick since the lottery began. Only two have done it since 1994. Miami has never picked first and blew a 25 percent chance of taking the top pick when the ping pong ball coded for the Bulls was pulled from the hopper. "We have a great opportunity to get a great young player," said Heat guard Dwyane Wade. Seattle, with the second-worst record at 20-62, settled for the fourth pick, followed in order by Memphis, New York, the Los Angeles Clippers, Milwaukee, Charlotte, New Jersey, Indiana, Sacramento, Portland and Golden State. Seattle's Kevin Durant, last year's number two pick and the NBA Rookie of the Year, is a friend of Beasley who would have hoped to have him as a teammate but the SuperSonics failed despite having the second-best odds at 19.9 percent. "Wherever he goes I know he's going to work hard," Durant said.