In the pits A trader looks at the electronic board of the PSE in Makati City on Monday. The Philippine Stock Exchange Index fell 6.30 points, or 0.3 percent, to 2,459.98, a new low in nearly two years, on the last trading day of the first semester. -- Nonie Reyes

President Arroyo arrives at the Naia Terminal 3 from the United States past midnight on Monday, using the occasion to make her preliminary inspection of the facilities in the controversial terminal, which authorities hope would fully open this year. Story above. -- Allan Martin Tamayo/PCPO

‘Compromise’ on Naia 3 eyed

PHILIPPINE International Air Terminals Co. (Piatco), builder of the Ninoy Aquino International Airport Terminal 3 (Naia 3), has reportedly sent “feelers” to the government for possible discussions on a compromise deal on the facility.

‘No new taxes, just plug smuggling loopholes’

SENATORS on Monday firmed up their position to block passage of any new tax bills in Congress after confirming rampant smuggling activities at various ports and eco zones “apparently” in collusion with erring customs officers.

Sulpicio sues weathermen over ‘Princess’

BLAMING the alleged inaccurate weather bulletin and tropical cyclone warnings issued by the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) at the height of Typhoon Frank, Sulpicio Lines Inc. filed Monday afternoon a civil case before the Regional Trial Court in Manila for alleged damage done to the shipping company.

THE Board of Investments (BOI) said Monday that Bureau of Immigration (BI) reforms to fast-track the processing of visas for potential investors may have led to the decline to “zero” of complaints of red tape, but acknowledged that some measures taken by the BI were not among those forged in an earlier agreement with the BOI.

BI violating own circular, MOA?

UNDER the agreement forged on April 10, 2007, between the Bureau of Immigration (BI) and the Bureau of Investments (BOI), the BI may issue temporary visitor’s visas (TVVs) upon arrival to foreign businessmen at the Ninoy Aquino International Airport, Mactan-Cebu International Airport and Davao International Airport as endorsed by the BOI, and as requested by the Philippine Chamber of Commerce and Industry (PCCI) or the Foreign Chamber of Commerce and Industry (FCCI).

Reyes warns public on fuel conversion

THE Department of Energy (DOE) cautioned the public against using a dual-fuel system which utilizes in-line blending of 70-percent diesel and 30-percent liquefied petroleum gas (LPG).

HAGATNA, Guam—If Barack Obama becomes the US president, America’s national policies would somehow be influenced by a Filipino: Charmaine Manansala, who has been selected as a senior adviser to the Democratic party candidate.

Veco gets P172-M Transco assets

VISAYAN Electric Co. Inc. (Veco), the country’s second-largest power distributor acquired P172 million worth of subtransmission assets from the National Transmission Corp. (Transco) as part of the government-owned company’s divestment program.

Speculation drives oil to record above $143

LONDON—Crude oil rose to a record above $143 a barrel on speculation the dispute over Iran’s nuclear program may disrupt supply from Opec’s second-largest producer.

Tangle of  trade pacts among 21 Apec economies sorted out

SENIOR officials of the member-countries of the Asia-Pacific Economic Cooperation (Apec) have agreed to study the “divergence and convergence” of all the regional and bilateral trade agreements previously signed by members that will be integrated in the Asia Pacific Free-Trade Agreement (FTA-AP) covering the 21 economies to better facilitate trade and investments in the region.

Language, high fees, ignorant judges hinder access to justice

THE use of the English language in court proceedings and the exorbitant litigation fees were among the issues raised by leaders of various sectors at the start of the two-day forum on improving access to justice by the poor, sponsored by the Supreme Court.

Sanyo to shut RP plant

TOKYO—Sanyo Electric Co., the world’s largest rechargeable-battery maker, will close a wholly-owned subsidiary in the Philippines as part of a reorganization of its capacitor business.

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