May 22, 2008 -

Following the government’s announcement of their aim to take over Meralco, Philippines’ main electric company, the head of Meralco presented a speech regarding the issue today.

Oscar Lopez reassured the people that the business will survive this tyranny just like it had succeeded over Marcos’ martial law.

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In a recent survey from Social Weather Stations, 50% of Filipinos rated themselves as poor. This percent is higher than the previous one of 46%. A majority of the people are still not satisfied with the attempts of the Arroyo administration to ease poverty in the country. The article continues to point out the different information extracted from each region of the country and give a statistical view on the life of a poor Filipino.

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May 9, 2008-

 The Arroyo administration has been pressurizing Meralco, the Philippines’ main electricity company, to lower its electricity rates due to the complaints of foreign companies of the power cost and to help the poor who are already struggling with the rising rice and oil prices. 

  This picture was taken from here.

Oscar Lopez, who manages the company, has now decided to resign because of the demands and the government will be planning to take over the firm to control the power rates.

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May 7, 2008 -

The government failed in the bidding for rice with other countries last Monday. President Arroyo announced that top rice producing countries such as Thailand and Vietnam hesitated to participate in the bidding that usually increases the price of rice in the global market. Arroyo now has arranged for the authorities to start purchasing rice directly from outside countries to stop the rice commotion in the country. The Philippines are now trying to find more suppliers to provide rice for the population.

Vietnam has agreed to bring in 1.5 million tons of rice to the Philippines by this year, BBC News reported. (This picture was extracted from here.)

The Southeast Asian community have decided to collaborate over the price and supply issue of the rice market, but no action has yet to be taken.

 To access this article in the Philippine Star, click here.

April 15 (Bloomberg) — The Philippines, the world’s biggest rice importer, intensified efforts to crack down on hoarding as prices rose to a record and Royal Bank of Scotland Group Plc said the president’s popularity may be undermined by food inflation.

The Southeast Asian nation would target “unscrupulous traders together with their accomplices in the bureaucracy,” President Gloria Arroyo said today. “We have already taken steps to protect our consumers from rice and even bread bandits.”

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Philippine stocks will said to lower this year due to the decline of Wall Street.

This article continues to talk about the effects on corporate profits in the Philippines and other countries as well because of America’s economic slowdown and how international products like San Miguel are in a dilemma.

You can read more about this article here. The picture was taken from this site.