May prices surge 9.6%
Rice, oil trigger highest inflation in 9 years
SOARING rice and oil prices pushed
inflation to a nine-year peak of 9.6 percent in May.
The May rate, which was on the top
end of the Bangko Sentral forecast for month of 8.8 to
9.6 percent, sent the peso hurtling below key support at
44 per dollar to its lowest level since October,
prompting the central bank to intervene with dollar
sales, currency traders said.
A MAKATI court yesterday convicted Daily Tribune publisher
Ninez Cacho-Olivares in the libel case filed in 2003 by
the Carpio Villaraza and Cruz law firm or the "Firm."
Olivares was sentenced to two years in
prison and ordered to pay P5 million for moral damages and
P33,732.25 for actual damages.
WASHINGTON - Hillary Clinton will end her
White House bid and declare her support for Barack Obama, aides
said on Wednesday, drawing the curtain on a grueling 16-month
nominating fight that badly split the Democratic Party.
Clinton will publicly back Obama on Saturday
and pledge to work for party unity in the general-election race
against Republican John McCain.
"Senator Clinton will be hosting an event in
Washington, D.C. to thank her supporters and express her support
for Senator Obama and party unity," a campaign statement said.
