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   June 09, 2008

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RP faces ‘perfect economic storm’

An unidentified man cleans the Aguinaldo Shrine in preparation for the celebration of the proclamation of Philippine independence on June 12. But the outlook appears gloomy, as experts predict that a “perfect economic storm” is threatening the country. 
PHOTO BY KJ ROSALES

Growth slowing, inflation rising

The Philippine economy faces a “perfect economic storm” of inflation at nine-year highs as food and oil prices soar, rising interest rates and slowing growth, analysts said.

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Inflation is expected to a peak at 11 percent in June before it starts to decline in July, the Bangko Sentral ng Pilipinas said.

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T O P   S T O R I E S

·  Soaring fuel drives more to use MRT
·  Clinton ends her White House bid, endorses Obama
· 

Obama candidacy: Breaking barriers

· Koxinga and Ternate
· UP militants quieter but still passionate
   

M E T R O

The Government Service Insurance System (GSIS) criticized the Makati Business Club for making statements that are allegedly “the height of irresponsibility” and “immaturity” after the business group condemned the state pension fund and the Arroyo administration over its moves towards Manila Electric Co. (Meralco).

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R E G I O N S

BAYOMBONG, Nueva Vizcaya: Four lawmakers were detained for almost half an hour inside a police checkpoint near the border of this province and Quirino while on their way to a remote upland village for an inquiry over alleged abuses of a foreign firm conducting a large-scale mining operation in the area.

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B U S I N E S S

HARD to believe but even oil companies are feeling the pinch from rising crude prices.

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S P O R T S

BOSTON: We need to talk. Those words, quite scary when it comes to romantic relationships, sum up the guiding principle behind the Boston Celtics’ defense, the most successful in the National Basketball Association, when it comes to silencing Kobe Bryant.  

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T E C H   T I M E S

This is the message the Department of Science and Technology intends to deliver to young Filipinos in a comic book series and music video it has produced.

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OPINION

EDITORIAL
Reclaiming UP’s world-class status

WITH a fresh charter and a string of business deals covering vast landholdings, the University of the Philippines (UP) may yet break free from the yoke of financial straits that has prevented it from becoming a true people’s university.

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·

Dan Mariano: Reactions to ‘Oreo’

· Rene Q. Bas: For ‘healthy globalization,’ globalize solidarity
· Random Jottings: Consumer representative pushed for Meralco board
· Efren L. Danao: Ja…Ja…Ja…Ja…Jamby
· Eric F. Mallonga: President Barack Obama
· ANALYSIS: Inflation crisis undermines Asian governments

World

G8, Asian powers concerned on oil, fear recession

AOMORI, Japan: Eleven nations that guzzle nearly two-thirds of the world’s energy voiced concern Sunday over record oil prices as host Japan warned the world could plunge into recession.

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Life & Times

Dumb and dumber
Belgian experimental theater hits the 2008 Singapore Arts Festival 

It’s postmodern, absurdist and provocative. But its creator says it isn’t. A play about stupidity, it might be smart-alecky as well. It gets the last laugh at its audiences. But even this its director denies.

.

Full Story>>

2008 Dr. Jose P. Rizal Awards: Search for Outstanding Chinese-Filipinos

 

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