NEWSCAPS
November 21, 2012
(POLITICAL)
I. SIN TAX BILL
 Voting 15-2, Senators finally approved last night the sin tax
reform bill, which restructures excise taxes on alcohol and
tobacco products and aims to generate additional revenues of
P40 billion in 2013. Sen. Francis Escudero and Sen. Joker Arroyo
were the only ones who voted against it.
 The passage of the measure certified as urgent by the Office of
the President also agreed to lower the unitary tax on cigarettes
from P32 to P26 per pack by 2017, the fifth year of
implementation of the proposed higher taxes on sin products.
II. REFUND ORDER FOR TEXT OVERCHARGING
 For violating a National Telecommunications Commission (NTC)
order to reduce SMS rates to P0.80 from P1 per text message,
Globe Telecom Inc. and Philippine Long Distance Telephone
Co.’s subsidiaries Smart Communications and Digitel Mobile
Philippines (Sun Cellular) must reimburse their subscribers the
difference for an estimated 20 million messages since the order
took effect on Dec. 1, 2011. Estimates showed that the telcos
may have to return at least P1.42 billion to their subscribers.
III. US PRESIDENT OBAMA ON SEA DISPUTE
 As the show of unity within the Association of Southeast Asian
Nations appeared to crumble, US President Barack Obama urged
Asian leaders to rein in tensions, saying that there was no reason
to risk an escalation of their territorial disputes. Speaking at the
21st ASEAN Summit, President Obama stopped short of firmly
backing allies Japan, the Philippines and Vietnam in their
disputes with China over the West Philippine Sea.
IV. PRESIDENT AQUINO ON CHINA BENEVOLENCE
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 President Aquino called on China to show benevolence and
generosity toward weaker states in the region, including the
Philippines, if it hoped to sustain its economic growth in times of
uncertainty.
 “As a nation that has only recently taken its first steps toward
equitable progress, the Philippines looks to China to set the
example of wise and peace-seeking leadership,” President
Aquino said, addressing other leaders of the Association of
Southeast Asian Nations (ASEAN) that included Chinese Premier
Wen Jiabao.
V. MALAYSIA TO HELP CATCH SCAMMERS
 President Aquino said that Malaysian authorities agreed to
cooperate with the Philippines in the capture of members of a
syndicate behind the Aman Futures scam that victimized
thousands of people, including local officials in the Visayas and
Mindanao. “The ambassador of Malaysia to the Philippines said
that they will assist us. We don’t have issues with Malaysia as far
as helping us catch the criminals,” President Aquino said.
VI. NBI BUST OF ANOTHER INVESTMENT SCAM
 Another investment scam with the same double-your-moneyscheme has been uncovered. Reported to have been victimized
were 300 employees of a popular mall chain in Metro Manila. The
National Bureau of Investigation (NBI) arrested Imelda Labadia,
also known as Imelda Lomido, in her house in Taguig City, which
served as her office where all cash transactions took place.
Money received by Lomido from employees of the mall alone
“could reach P30 million.”
VII. NEW SC JUSTICE
 President Aquino said that he will appoint the 15th justice of the
Supreme Court a day before the constitutionally mandated Nov.
22 deadline, shortly after he arrives in Manila from his attendance
in the 21st Association of Southeast Asian Nations (ASEAN)
Summit in Cambodia.
VIII. US ON P1-B SEIZED MARCOS PROPERTIES
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 US authorities have seized a fresh cache of dollars, prime New
York properties and paintings worth as much as P1 billion
believed to be part of the hidden wealth plundered by Ferdinand
Marcos during his two decade rule.
 The revelation was made on the day the Reuters news agency
said that Vilma Bautista, a New York resident and one-time
secretary to former First Lady Imelda Marcos, would be charged
by the Manhattan District Attorney in connection with four
paintings in her possession, including some by Impressionist
artists, that disappeared after the fall of the Marcos dictatorship in
1986.
IX. KASAMBAHAY BILL
 The “Kasambahay” bill has inched closer to becoming a law after
the bicameral conference committee managed to reconcile
conflicting provisions, particularly on wage rates. In a third and
final meeting, lawmakers agreed on a “hybrid” formula setting the
minimum salary for house help in Metro Manila at P2,500.
X. RH BILL
 The Catholic Bishops Conference of the Philippines (CBCP) has
rejected the “watered-down” version of the reproductive health
(RH) bill being proposed by House Speaker Feliciano Belmonte,
for promoting artificial contraception, said Antipolo Bishop Gabriel
Reyes, Chairperson of the CBCP-Episcopal Commission on
Family and Life. There is no word yet if President Aquino will
certify the measure as urgent.
XI. COMELEC APPROVAL OF LEFTIST PARTY-LIST GROUPS
 After a protracted word war on who should be disqualified from
the 2013 elections, party-list groups Akbayan and Bayan Muna
both ended up getting the nod of the Commission on Elections
(COMELEC) to vie for congressional seats next year.
 The COMELEC voted 4-2 in favor of the two rival groups, citing
their history and “established” track record in working and
advocating for the marginalized and underrepresented sectors of
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the society. COMELEC Chairperson Sixto Brillantes Jr. said that
he joined the dissenting vote because he believed that both
groups were multisectoral.
XII. ESTRADA PROHIBITION TO RUN FOR OFFICE
 Two private lawyers asked the Sandiganbayan to clarify whether
or not the presidential pardon given to former president Joseph
Estrada after his conviction for plunder in 2007 allowed him to run
for elective office.
 In their motion seeking a clarification, lawyers Fernando Perito
and Nepthali Aliposa quoted one of the paragraphs in the
conditional pardon that read: “Whereas, Joseph Ejercito Estrada
has publicly committed to no longer seek any elective position or
office...”
XIII. MEMBERS OF PANEL ON THE ARROYO PCSO PLUNDER
CASE
 Former President and now Pampanga Rep. Gloria MacapagalArroyo has finally revealed the names of the original members of
the preliminary investigation of the Office of the Ombudsman that
allegedly junked the plunder complaint filed against her in relation
to the alleged misuse of funds in the Philippine Charity
Sweepstakes Office (PCSO) during her administration.
 In a motion asking the Sandiganbayan to compel the release the
“missing” report, Arroyo through lawyer Anacleto Diaz said that
Joaquin Salazar, Nellie Golez and Roque Damian Dator were
among the members of the investigating body that recommended
the dismissal of the case. Their recommendations were junked by
Ombudsman Conchita Carpio-Morales.
XIV. ISRAEL ENVOY ON VICTIMS OF GAZA ATTACKS
 Israel’s top diplomat in the Philippines expressed deep sorrow
over the loss of innocent lives, which he claimed were used as
human shields by terrorists in the recent attacks in Gaza.
Ambassador Menashe Bar-On issued the statement after militant
groups calling for an end to airstrikes in Gaza picketed the Israel
embassy in Makati.
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XV. MISSING FILIPINO OIL RIG WORKER
 A Filipino worker remained missing after the explosion and fire on
an oil platform in the Gulf of Mexico. One Filipino was killed in the
incident. Nine of the 22 workers during the incident were Filipinos,
according to Philippine Ambassador to the US Jose Cuisia Jr.
who visited four of the injured Filipinos. He added that the
embassy staff had yet to get in touch with the three others who
were not among those seriously hurt and were not hospitalized.
XVI. NBI PROBE OF FORMER PDEA OFFICIAL
 Another former official of the Philippine Drug Enforcement
Agency (PDEA) is being investigated for alleged anomaly. Justice
Secretary Leila de Lima confirmed that the National Bureau of
Investigation (NBI) is looking into charges against former PDEA
deputy director general Carlos Gadapan, particularly his alleged
connivance with a Filipino-Chinese drug suspect and leaking of
confidential information to him that may have jeopardized the
agency’s anti-drug operations.
XVII. BILIBID RESHUFFLE
 A deputy of the National Bureau of Investigation (NBI) has been
designated officer-in-charge (OIC) of the Bureau of Corrections
(BuCor) while key personnel have been reshuffled at the New
Bilibid Prison (NBP) in two orders issued by Justice Secretary
Leila de Lima as heads rolled in the aftermath of an explosion at
the national penitentiary last week.
 NBI Deputy Director Rafael Z. Ragos has replaced Manuel G. Co,
parole and probation administrator, as BuCor OIC, while top NBP
officials were relieved of their duties following accounts of
negligence.
XVIII. MALAMPAYA FUND MESS
 The Department of Agrarian Reform (DAR) has been
investigating the use of all Malampaya fund shares that have
been allotted to the agency since 2002, according to Agrarian
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Reform Secretary Virgilio de los Reyes. The DAR investigation is
based on a report of the Commission on Audit (COA).
(ECONOMY)
I. PH STOCKS RECORD HIGH
 The benchmark Philippine Stock Exchange index (PSEi) closed
at a record 5,500.58, up 51.03 points or 0.9 percent, surpassing
the November 6 record close November 12 intraday level. Yearto-date, the PSEi broke through new highs for a total of 26 times,
according to the PSE.
II. REAL ESTATE DEMAND
 Supply and demand levels for the country’s residential and office
sectors are expected to continue to grow next year on the back of
a bullish local investment climate, particularly in the growing BPO
(business process outsourcing) sector, local real estate services
firm CB Richard Ellis Philippines, Inc. (CBRE Philippines) said.
 "We are now experiencing the best real estate market in the last
20 years. Suffice it to say that if you build it, they (the buyers) will
come -- be it office, residential, or leisure properties," Rick M.
Santos, CBRE Philippines Chairperson and Chief Executive, said.
III. RECORD LOW FOR TREASURY BONDS
 Yield of the seven-year Treasury bond (T-bond) plunged to a
record low during yesterday’s auction on the back of strong
demand. The paper, which will mature on 2019, fetched a coupon
rate of 3.875 percent, down from 4.75 percent in its last auction
on Aug. 28. Tenders amounted to P35.430 billion, almost four
times the P9-billion offer.
IV. EDC ON P8.57-B PROFIT
 With huge revenue contributions from subsidiaries, Energy
Development Corp. (EDC) made a significant turnaround in the
first nine months of 2012, posting a net income of P8.57 billion or
a reversal from a net loss of P488 million in the same period last
year.
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 EDC said that its subsidiaries Green Core Geothermal Inc.
(GCGI) and First Gen Hydro Power Corp. (FGHPC) contributed
greatly to the reversal in its financial performance.
V. FOREIGN BORROWINGS
 Foreign borrowing will be reduced next year as the government is
looking to take advantage of high liquidity and low interest rates in
the local market. "The programmed mix for this year is 75:25, in
favor of domestic borrowing. Next year we are aiming for an
80:20 ratio," National Treasurer Rosalia V. de Leon said.
VI. BPI-PNB TALKS
 The Bank of the Philippine Islands of the Ayala group is in
advanced talks to acquire a majority stake in Lucio Tan-led
Philippine National Bank, sources confirmed in what could be a
major banking consolidation resulting in a combined entity with
total assets of about P1.2 trillion that would make the Ayala
banking arm as big as Banco de Oro Unibank.
VII. OIL PRICE HIKE
 Oil companies raised the price of unleaded gasoline by P1.15 per
liter amid continuing rise in global fuel prices. Petron, Pilipinas
Shell, Seaoil and Flying V also raised the price of regular gasoline
by 70 centavos per liter and kerosene by 25 centavos. There was
no adjustment in the price of diesel. The price increase came
after a series of cuts the past weeks.
VIII. CAR SALES
 Sales of automobile importers saw an 18% increase as of
October as the passenger car segment and newly released
models boosted sales. Association of Vehicle Importers and
Distributors, Inc. (AVID) members were able to sell 24,004 units
from January to October this year from 20,340 units in the same
period last year.
IX. RULES ON INCENTIVES FOR STATE WORKERS
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 Officials belonging to outstanding state firms will also need to
achieve good performance ratings based on the mode of
evaluation used by the Civil Service Commission (CSC) and
Career Executive Service Board (CESB) to be able to qualify for
the government’s Performance-Based Bonus (PBB) of as much
as P35,000 per employee for firms that achieve at least 90% of
their performance targets.
 Firms seeking the incentives by year-end must submit their PBB
accomplishment reports as of Nov. 30, including their rankings of
their respective units and employees by the first week of
December.
X. NUMBER OF FOREIGNERS IN PH: 177,368
 The number of foreigners who are living in the Philippines was
placed at 177,368 as of May 2010, or just 0.2 percent of the total
household population in the country.
 The National Statistics Office (NSO) said that the majority of them
are from the United States (29,959 persons), China (28,750),
Japan (11,583) and India (8,963). Foreigners were included in the
2010 Census of Population and Housing of the NSO.
(END)
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