The Philippine Alert

March 2008 issue.

Political

SC votes 9-6 for Sec Neri on executive privilege
The Supreme Court (SC), voting 9-6, granted the petition of Commission on Higher Education (CHED) Chairman Romulo Neri to enjoin the Senate from forcing him to answer 3 questions in the probe on the controversial $329-million ZTE national broadband network (NBN) project as these are covered by executive privilege. (see story on p 10)

Arroyo revokes EO 464
President Arroyo revoked on March 5 Executive Order (EO) 464, which had prohibited members of the executive branch from appearing without her permission before legislative inquiries. (see story on p 11)

Economy

January budget deficit down to P13.9-B
The national government registered a deficit of P13.9 billion in January 2008, lower than the P29.7 billion incurred in January 2007. The government, however, is reconsidering its balanced budget target this year to cope with the adverse impact of a U.S. economic slowdown. (see story on p 16)

Oil prices go past $111 per barrel
The price of light, sweet crude at the New York Mercantile Exchange (NYMEX) reached all-time highs of above $111 per barrel in mid-March. (see story on p 17)

Business

BOI to deny tax perks on ICT investments
The Board of Investments announced that tax incentives for investments in Information and Communications Technology (ICT) will be removed in the 2008 Investment Priorities Plan. The BOI is planning to trim its list of priority sectors as the government consolidates its fiscal incentives administration.(see story on p 31)

»»Login to download a PDF file.