The Philippine Alert

December 2011 Issue .

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Political

Palace: Rep. Arroyo’s stay at Veterans Memorial Center is temporary
Former President Gloria Arroyo will enjoy the relative comfort of the Veterans Memorial Medical Center in Quezon City only for as long as her medical condition will require it,
an official said.

Chief Justice Corona impeached by House of Representatives
On Dec. 12, the House of Representatives impeached Supreme Court Chief Justice
Renato Corona on allegations of betrayal of public trust, culpable violation of the Constitution, and graft and corruption. The Senate, as impeachment court, is set to commence impeachment proceedings on January 16 upon resumption of session.


SC orders Hacienda Luisita distributed to farmers
Voting 14-0, the Supreme Court (SC) on Nov. 22 ordered the distribution to farmers
of 4,915 hectares of the Cojuangco family-owned Hacienda Luisita sugar estate,
in accordance with the land reform program.

Economy

S&P raises PH rating outlook
New York-based credit watchdog Standard & Poor’s Ratings Services upgraded
the Philippines’ sovereign credit rating outlook to “positive” from “stable” on Dec. 16.

PH ranking on fi nancial dev’t up
The Philippines ranked 44th out of 60 economies, a 6-notch improvement from 50th
in the previous year, in the World Economic Forum’s (WEF) Global Financial
Development Index 2011.

More Filipinos see better times over the next 12 months – SWS, BSP
The percentage of Filipinos expecting improved quality of life and economic conditions
over the next 12 months (“optimists”) rose, while those seeing them worsening
(“pessimists”) was unchanged, resulting in a net personal optimism score of +30%
on quality of life and +22% in the 3rd quarter, the highest so far in 2011,
according to the survey conducted by pollster Social Service Stations (SWS).

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