FRIDAY |JANUARY 4, 2008 | PHILIPPINES

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Oil hits record $100
 Stronger peso seen dampening effect on RP

OIL prices vaulted to a record $100 a barrel on Wednesday as violence in Nigeria, tight energy stockpiles and a weaker dollar triggered a surge of speculative buying, dealers said.

Oil’s climb to the psychologically key triple-digit price helped send stocks tumbling on Wall Street and further darkened an already gloomy economic outlook in the United States, which has been battered by a housing crisis and credit crunch.

The Wall Street retreat prompted a sellout at the Philippine Stock Exchange (Story on Page 10), but businessmen and analysts said $100 crude will not seriously affect the country’s growth.

Full Story...

Erap: Count me out; let
young get a chance to lead

FORMER President Joseph Estrada yesterday reiterated he would not seek to regain the presidency that was taken from him in 2001.

In a radio interview, Estrada said he has no intention of running in 2010. "We have no monopoly of leadership. Let’s give the young ones a chance to lead this country."

He said the people might have misinterpreted his medical missions in Metro Manila which he said were meant to show his appreciation for the public’s continued support.

 Full Story...

Bishop tells wannabes to first
make sure there will be elections

BY GERARD NAVAL

A FORMER president of the Catholic Bishops Conference of the Philippines yesterday cautioned 2010 presidential aspirants to be wary of President Arroyo, who he said is still capable of pulling out surprises.

Lingayen-Dagupan Archbishop Oscar Cruz said the administration and the opposition camps must first make sure that there will be a presidential election two years from now.

"Frankly, it is not that certain …. as Arroyo is not readily giving up power with its accompanying immunity by 2010," Cruz said.

 Full Story..

 

 

OTHER TOP NEWS

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for Esperon post


Court throws out Jalosjos plea; return to Bilibid set

Hackers take net surfers to Gloria’s ‘Enchanted Kingdom’

OPINION
Editorial

Gloria is the danger

Column of the Day

Capinpin’s population
explosion
 BY ELLEN TORDESILLAS

BUSINESS
 Strong peso causing amortization
defaults in mid-income housing

SPORTS
 PBA governors go for secret vote
ENTERTAINMENT
 Makati judge discourages showbiz couple from marrying just because of pregnancy

LIVING
 Classic footwear with modern features

 
 Peso

$1= 41.08
 


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