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| 26 JANUARY 2008 | . | |
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| 26 JANUARY 2008 | . | |
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| PGMA heads for Dubai from Switzerland today |
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DAVOS, Switzerland (via PLDT) -- President Gloria Macapagal-Arroyo is
scheduled to leave for Dubai Saturday (Swiss time) to have more serious
discussions with businessmen in the United Arab Emirates on the prospects of
pouring in more investments in the Philippines. In a coffee meeting with members of the Philippine media here last night, the President said the Dubai trip is somewhat an extension of her trip in Davos to open up and possibly finalize several negotiations in the Gulf state. She went to Davos to attend the annual meeting of the World Economic Forum (WEF). The President said the Dubai trip materialized upon the request of investment houses of the Philippine Stock Exchange (PSE) that asked her to “piggyback their international road shows,” including in Dubai. "Because Dubai is a financial capital, several of the businessmen around the Gulf also made appointments to see me. So I am going to have like an extension of Davos there," the President said. The President leaves Zurich Saturday morning (afternoon in Manila) and is expected to arrive in Dubai in the evening. On Sunday, the President is scheduled to have a roundtable discussion with Union Bank of Switzerland (UBS) investors and speak before members of the Dubai Chamber of Commerce and Industry. The President is also expected to meet with Prince Talal Bin Abdul Aziz and Sheikh Mohammed Bin Rashid Al Maktoum. Highlighting the first working day of the President's visit to Dubai is the launching of the hedging facility for overseas Filipino workers (OFWs) whose dollar remittances are being affected by the strong peso. The President is also expected to meet with the Filipino community in Dubai, the second largest destination of OFWs after Saudi Arabia. On Monday, Jan. 28, the President will be interviewed by Al Jazeera at the Philippine Consulate in Dubai before heading back home to Manila. |
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| PGMA bares Melo's appointment as new Comelec chairman |
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DAVOS, Switzerland (via PLDT) -- President Gloria Macapagal-Arroyo announced
here Friday night the appointment of former Supreme Court Justice Jose Melo
as the new chairman of the Commission on Elections (Comelec). The President made the announcement in a coffee meeting with members of the Philippine media covering her trip to Davos, where she attended the annual meeting of the World Economic Forum (WEF). The President said she picked Melo among several nominees because of his credibility. In 2006, Melo was named by the President to head an independent fact-finding body known as the Melo Commission to address the reported cases of extrajudicial and political killings in the country. The President said the Melo Commission report was even acknowledged by the United Nations while the cases of unexplained killings significantly went down. "Well, you see how credible he was in his Melo report. All, even the United Nations (UN), they all took off from his own report. And when he religiously carried out his recommendations, the unexplained killings went down by 83 percent in one year. He is a very, very credible person," the President said. Melo is expected to invigorate the Comelec in time for the holding of the May 2010 national and local elections. Melo will take over the Comelec post vacated by former Chairman Benjamin Abalos, who opted for early retirement amid allegations that he was involved in the controversial national broadband network deal with China’s ZTE Corporations. |
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| President confirms Esperon's term extension |
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DAVOS, Switzerland (via PLDT) -- President Gloria Macapagal-Arroyo confirmed
last night the term extension of Armed Forces of the Philippines (AFP) Chief
Gen. Hermogenes Esperon Jr. for another three months to sustain the
government's ongoing campaign to finally end rebel insurgency in the
country. The President made the confirmation during her coffee meeting with the Philippine media covering the President's attendance at the 2008 World Economic Forum (WEF) here. At the same time, the President announced the assumption in May of the top AFP post by current Philippine Army Chief Lt. Gen. Alexander Yano. Traditionally, the chief of the Philippine Army assumes the highest post in the AFP. The President said that Esperon, who is supposed to retire at the mandatory age of 56 on his birthday on Feb. 9, would continue serving until May 9 to provide a smooth transition before handing out the AFP leadership to Yano. The President said the decision to extend the term of Esperon was also based on the recommendations of junior commanders in the AFP so as not to derail the government's sustained campaign at a crucial time. "Because there is a momentum in the campaign against the NPA (New People’s Army) and they are expecting a snowball in the next several months," the President said. |
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| President renews call on Myanmar to return to the path of democracy |
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DAVOS, Switzerland (via PLDT) -- President Gloria Macapagal-Arroyo said
Friday Myanmar should return to the path of democracy by freeing freedom
fighter Aung San Suu Kyi as part of its commitment when it signed the
Association of Southeast Asian Nations (ASEAN) Charter in Singapore last
year. The President asserted this in her opening statement during the high-level plenary session of the 2008 World Economic Forum (WEF) tackling the role of ASEAN as an emerging Asian community. In her four-minute speech, the President said that ASEAN is well aware of the Philippine position on the need for political reforms in Myanmar, stressing that the Philippine Senate would not ratify the ASEAN Charter unless Myanmar returns to the path of democracy. During the signing of the ASEAN Charter by the 10 leaders in Singapore last year, the President noted that by signing the Charter, Myanmar had committed itself to democratic reforms and should start by releasing Aung San Suu Kyi. "Not only are we committed to seeing political reforms in Myanmar. Our Senate will not ratify the ASEAN Charter, unless they see real political reforms take place in Myanmar. So we must work together to make the tough choices to make ASEAN to reel and Aung San Suu Kyi free," the President said. ASEAN is composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam |
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| Citigroup chair congratulates PGMA on RP's great economy |
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The chairman of Citigroup and Citibank has renewed his company’s commitment
to work with the Philippines in the power sector and in privatization
efforts as he congratulated President Gloria Macapagal-Arroyo and her
economic team for the Philippines’ “great economy.” This was revealed by Press Secretary Ignacio R. Bunye who furnished media with the highlights of the courtesy call of Citigroup/Citibank Chair William “Bill” Rhodes on President Arroyo at the Casa Bracke Klosters in Davos, Switzerland last Jan. 24. Rhodes “congratulated the President and her team for the great economy, and noted that everything has gone better than projected,” said Bunye. The Citigroup chair – who “renewed commitment to work with the Philippines in, among others, the power sector and in privatization efforts” – also promised the President, thus: “I will be happy to continue in helping the Philippines in the IBA (International Board of Advisors).” Bunye said Rhodes discussed the ongoing slowdown in the US economy and is bullish on the Philippines’ chances of weathering the impact. “Everyone is very positive about the Philippines -- the peso is at an all time high, and the President and her economic team have turned everything around,” enthused Rhodes who, however, warned about repercussions of what is happening in the United States. “… We all need to be cautious in the next six months. Systemic risks, price stability, crisis prevention -- all of these come into focus,” advised Rhodes who pointed out that “the (US) credit markets are not yet back where they need to be, so there is uncertainty and turmoil…” “One of the things we should be looking at is the possible global repercussion from what is happening in the US economy. The real question is not whether it is recession or just slow growth. The markets have to work through all these, plus the slowing US market will have a ripple effect,” surmised Rhodes. For her part, President Arroyo, an economist, told the Citibank chair that she is well aware of the situation: “We realize the uncertainty of the situation, and the need to play our cards right. But knowing the danger and doing the right thing are two different things…” “We are happy to be coming in from a strong position, but we still need to play our cards right,” the President stressed. Still on the US economic slowdown, Rhodes said, “we are looking at a challenging situation over the next six months, not just for the US economy but worldwide.” But Rhodes enthused, thus: “The Philippines is going into the crisis in very good shape. I think that the slowdown will only be for a couple of quarters, maximum three quarters… Everything I see about RP indicates that you are in best position to go into the crisis,” Rhodes further enthused. President Arroyo created the International Board of Advisors (IBA) in 2001 to seek their views on her economic programs. It is composed of chief executive officers and noted businessmen from top international corporations. |
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