“An act of terrorism.” Investigators sift through the debris for evidence.
***
Economy slows down Gov't to step up spending as
growth slackens to 5.2%
BY ALBERT CASTRO and
JOCELYN MONTEMAYOR
ECONOMIC growth slowed down to 5.2 percent in
the first quarter from a year earlier's 7 percent, but the
Palace expressed confidence the economy would be back on track
soon.
Seasonally adjusted growth was placed at 0.8
percent in the first quarter from the fourth quarter, well below
expectations, casting a pall over the outlook for 2008. The
growth, as measured by the gross national product, was at the
low end of government's estimate of 5.2 to 6.2 percent.
Anticipating a weak first quarter, the
government earlier scaled back its growth target to 5.7-6.5
percent.
OFFICIALS of the Manila Electric Co (Meralco)
yesterday asked the Court of Appeals to declare as null and void
the cease and desist order of the Securities and Exchange
Commission enjoining the country's largest power distributor
from counting proxy votes in favor of the Lopezes.
Petitioners were Anthony Rosete, acting
Meralco corporate secretary; Manuel Lopez, chairman of the board
of directors and chief executive officer; Jesus Francisco,
president and chief operating officer; board directors Felipe
Alfonso and Christian Monsod.
Joining the petition were Elpidio Ibanez,
president and chief operating officer of First Philippine
Holdings Corp., and Francis Giles Puno, chief finance officer of
First Philippine Holdings Corp.
TWO people died after a bomb believed to have
been set off by a mobile phone exploded outside the Edwin
Andrews Air Base in Zamboanga City.
At least 17 others were injured in the 10:10
a.m. blast from the improvised explosive device left along
Barangay Sta. Maria road near the Air Materiel Wing Savings and
Loans Association Inc. building.
"This is an act of terrorism," said Army Col.
Darwin Guerra, commander of the military's Task Force Zamboanga,
of the bombing which he said took place a few meters from Gate 1
of the base.
