IMF warns of conglomerate’s default

The International Monetary Fund has warned the Philippine government that the economy faces a risk that a “highly-leveraged conglomerate”, or one part of it, would default on its “foreign obligations and/or domestic loans”.

“With a handful of large conglomerates following broadly similar business models, and bank exposure to them equivalent to a sizeable share of total capital, systemic risks are heightened, “ the IMF explained in its Country Report No. 12/102, or its staff report for the 2013 Article IV Consultation with the Philippine government dated April 2013. (Each member country of the IMF is required to provide data to and consult with the Fund’s staff regarding its economic situation and policies as provided for in Article IV of its Articles of Agreement.) (more…)

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Zygotes and zombies: The Unborn, the Undead

When is a creature a person?

That really is the question the Supreme Court justices felt was most crucial in order to decide whether the reproductive health law is constitutional or not. It is not the newspaper headline “When does life begin?”, since obviously even a spermatozoa or an egg on its own is already a living thing. (more…)

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Corruption persists: Why wouldn’t it?

Transparency International’s Global Corruption Barometer for 2013 confirms what most informed Filipinos have concluded after three years under President Aquino’s administration: Corruption in this country persists and has increased.

Based on 1,000 respondents in the Philippines, the organization’s survey showed that nearly two-thirds (62 percent) believed that corruption has remained the same or increased. (more…)

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UP business dean academically incompetent

I thought I had written enough about the shameless and stupid renaming of the University of the Philippines’ College of Business Administration after Marcos’ top technocrat Cesar Virata.

But then the college’s Dean, Ben Paul Guiterrez, who spearheaded the move for the renaming, had his letter published in the internet edition of this newspaper, which reveals another serious problem with our national university.  (Editor’s note: The letter also came out in our print edition.) (more…)

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The e-book revolution is upon us

SUNDAY READ

I bought my first Kindle e-book reader in 2008, but after just a few months had gone tired of it, having the usual complaints about it –- the six-inch screen was too small and its black font on a grayish background dull for me, making me sleepy.

More importantly, I preferred holding a “real” book. I enjoyed flipping through its pages, and even tossing it to the floor when I got sleepy.  Since my childhood, I enjoyed sniffing that particular smell of a brand-new book — which an e-book obviously doesn’t have. (more…)

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