Panel recommends changes in World Bank graft unit- TPH

WASHINGTON -- Tensions and friction between the World Bank's unit investigating corruption and the rest of the bank have undermined the lender's efforts to fight graft, an independent panel said on Thursday.

Asia gains on dollar's broad weakness- TPH

SINGAPORE -- Most Asian currencies extended their gains on Thursday as investors joined a global rush to sell the dollar ahead of an expected Fed rate cut next week.

MILF leader urges 'freedom' peace efforts as Ramadan starts- TPH

MANILA, Philippines -- A Muslim separatist leader in the Philippines urged his followers at the start of the fasting month of Ramadan Thursday to continue working toward self-rule despite stalled peace talks and recent clashes with government troops.

Air pollution increases risk of heart attack -- study- TPH

WASHINGTON -- Air pollution could be putting patients with heart disease at risk by affecting blood vessels and clotting, researchers said in a study published Wednesday.

Arroyo: Gov't to honor legal contracts- TPH

MANILA, Philippines --President Gloria Macapagal-Arroyo has stressed that the government would honor contracts and agreements that had gone through the required processes.

Shares firmer on bargain hunting; Ayala Corp. extends gains- TPH

MANILA, Philippines -- Shares were higher in early trade Thursday as investors sought bargains, but caution prevailed after oil prices shot up to fresh record levels which could spark inflation concerns.

Oil prices ease from record peak- TPH

SINGAPORE -- Crude oil prices weakened in Asian trade Thursday on profit-taking after scaling new peaks on concerns over tight US supplies and hurricane worries, dealers said.

Jon Stewart will host Oscar Awards- TPH

LOS ANGELES -- Jon Stewart is getting a do-over as Oscar host. America's favorite faux newscaster, who drew mixed reviews for his first stint in 2006, has been picked for a return engagement in February, the film academy announced Wednesday.

Indonesia calls off fourth tsunami alert--meteorology agency- TPH

(UPDATE) JAKARTA -- Indonesia called off a tsunami alert Thursday, the fourth issued in less than 24 hours following a series of massive quakes off the west coast of Sumatra, the meteorology office said.

Kanye leads 50 Cent in CD sales face-off- TPH

NEW YORK -- 50 Cent may be getting hip-hop's equivalent of a gold watch next week. Early reports have Kanye West beating 50 in their much-hyped battle of album sales: West's "Graduation" is on pace to sell about 575,000 to 700,000 its first week out, while 50 Cent's "Curtis" is on track to do 550,000.

Microsoft largely unscathed after US antitrust ordeal- TPH

NEW YORK -- Microsoft emerged largely unscathed from a long antitrust ordeal in the United States, as it successfully overturned on appeal a judge's ruling that would have broken up the world's biggest software firm.

Indian IT firms take to reverse outsourcing- TPH

BANGALORE, India -- Indian IT firms that thrived on the outsourcing boom in the West are themselves headed offshore, from Malaysia to Mexico, to escape the double sting of surging salaries and a rising rupee.

(UPDATE 4) Indonesia counts cost of massive quake- TPH

JAKARTA -- Emergency teams headed to Indonesia's Sumatra island on Thursday after a massive 8.4 magnitude earthquake which shook the region left at least nine dead and hundreds injured, and sowed panic as far away as East Africa.

Cut global meat consumption to tackle climate change - paper- TPH

PARIS -- People in rich countries should limit their meat-eating to the equivalent of one hamburger per person per day to help stave off global warming, a study published by the Lancet on Thursday suggests.

Woods withdraws from Grand Slam of Golf- TPH

ATLANTA, Georgia -- World No 1 Tiger Woods has pulled out of the PGA Grand Slam of Golf in October so he can spend more time with his wife and new baby daughter, Sam Alexis. "It's been a long year," said Woods, who is in Atlanta this week competing at the Tour Championship.

Joson: Exonerate poll winners charged with political crimes- TPH

MANILA, Philippines -- An opposition congressman has filed a bill seeking to clear those charged with political crimes if they win a national election.

UNICEF: Child mortality worldwide hits record low- TPH

UNITED NATIONS -- Deaths of children under age five around the world dropped below 10 million for the first time last year, according to United Nations Children’s Fund figures released Thursday.

Led Zeppelin to re-unite for one-off London gig- TPH

LONDON -- Rock legends Led Zeppelin announced Wednesday they will re-unite for a one-off concert at London's O2 Arena on November 26.

Shares seen lower on oil price surge, political uncertainty- TPH

MANILA, Philippines -- Shares are expected to open lower Thursday amid worries about rising oil prices coupled with political uncertainty following the conviction of former president Joseph Estrada on plunder charges.

Arroyo approves 1-stop-shop for housing developers- TPH

MANILA, Philippines -- The government has approved the setting up of a one-stop-shop at the Housing and Land Use Regulatory Board (HLURB) to speed up the issuance of housing-related permits.

Estrada donation to slain soldiers’ kin questioned- TPH

MANILA, Philippines -- Armed Forces Chief of Staff Gen. Hermogenes Esperon Jr. has cast doubt on the motives of ousted President Joseph Estrada when the latter donated half a million pesos to each of the families of 16 soldiers who were killed last July in Basilan.

Air pollution causes bigger, more destructive hail- TPH

TRIESTE, Italy -- Air pollution hugely increases the size of hail, and thus the amount of damage it can cause to crops and property, according to a study presented Wednesday at the European Conference on Severe Storms.

Enrile, Angara oppose probe of NBN deal- TPH

MANILA, Philippines -- Two administration senators on Wednesday said the Senate has no business investigating the national broadband deal (NBN) and the cyber education project (CEP) because there was no binding contract yet on the two projects that are to be funded by loans from the Chinese government.

Russian government quits, Putin succession heats up- TPH

MOSCOW -- Russian President Vladimir Putin dismissed his prime minister and government Wednesday, paving the way for the Kremlin leader to handpick a successor when he steps down next year.

Benito rules Cebu karting leg- TPH

Rising young karter Roby Benito of Tuason Racing-Ready2Race Team finally hogged the limelight recently in the Cebu leg of the National Karting Series at the Kartzone in Mabolo, Cebu City.

Excerpts from the Sandiganbayan decision in Case No. 26558- TPH

This is a condensed version of the 212-page decision by the Sandiganbayan convicting Joseph Estrada on two counts of plunder.

Capiz bets capture six golds in POF Visayas leg- TPH

ILOILO CITY -- Five Capiz tracksters made gold-winning performances at the start of the 2nd Philippine Olympic Festival Visayas qualifying leg Wednesday at the rain-soaked Iloilo Sports Complex here.

It’s all over, Estrada lawyer tells daughter- TPH

MANILA, Philippines -- Edward Serapio hugged and kissed his 12-year-old daughter when he went home in Quezon City Wednesday.

Show of force: An overkill -- Jinggoy Estrada- TPH

MANILA, Philippines -- The show of force was an overkill, but the Philippine National Police said it was better to have “overreacted” than to be caught unprepared.

Chinese bets top picks in Asian chess tilt- TPH

MANILA, Philippines -- World-ranked chessers from China and India are picked to tangle for top honors when the sixth Asian Individual Chess Championship begins on Sept. 19 at the Cebu International Convention Center.

Estrada’s fate lies in Arroyo’s hands- TPH

MANILA, Philippines -- The fate of former President Joseph Estrada now lies in the hands of President Gloria Macapagal-Arroyo following the guilty verdict handed down by the Sandiganbayan.

Chavit feels vindicated, MJ forgiving, Atong sad- TPH

Former Ilocos Sur Gov. Luis “Chavit” Singson, deposed President Joseph Estrada’s best friend turned-whistle-blower, feels vindicated by the verdict. With business associates in one of his homes in Metro Manila, he watched the Sandiganbayan’s promulgation of its decision on TV.

Filipinos glued to TV sets for 20 minutes- TPH

MANILA, Philippines -- People across the country, be they at home or places of work, were glued Wednesday to television sets, watching the Sandiganbayan hand down its verdict on the plunder, corruption and perjury charges against deposed President Joseph Estrada.

Chandler powers Koreans anew; Alaska signs Bono- TPH

MANILA, Philippines -- It seems that no one can stop Marquin Chandler from demolishing every PBA team that gets in KT&G’s way.

Estrada: We’ll fight, will file motion for reconsideration- TPH

MANILA, Philippines -- For Joseph Estrada, it was far from being the end of the world. For him, the fight had just begun.

Court bases decision on two illegal acts- TPH

MANILA, Philippines -- Four illegal acts constituted the plunder charge filed against deposed President Joseph Estrada, but prosecutors were only able to pin him down on two.

Hush blankets holding room for Estrada family- TPH

MANILA, Philippines -- When the audio monitor installed in a corner transmitted the bad news finding former President Joseph Estrada guilty of plunder, the holding room at the Sandiganbayan building that was reserved for his family and allies was instantly hushed.

Warriors go for sweep- TPH

MANILA, Philippines -- As rare and special as a 14-0 sweep may be, the University of the East Warriors refuse to sound off any thoughts on reaching the brink of a historical moment.

Arroyo: Verdict on Estrada to end destabilization talk- TPH

MANILA, Philippines -- President Gloria Macapagal-Arroyo said Wednesday night the Sandiganbayan decision to convict former President Joseph Estrada should put an end to destabilization talk, but calls were made for her to bring to trial cases of plunder and corruption committed under her administration.

Top taekwondo bets hurdle foes- TPH

Two national team standouts and other top seeds outclassed their respective challengers Wednesday to advance to the men’s semifinals of the 2007 Samsung Best of the Best National Taekwondo Championships at the Glorietta Activity Center in Makati City.

Fernando cousins fire 68s, share RP Am elims lead- TPH

ILOILO -- Cousins Anthony and Mark Fernando shot two-under par 68s to tie Paul Echavez for the lead Wednesday at the start of the 36-hole stroke play qualifier of the 2007 Philippine Amateur championship at the Iloilo Golf and Country Club here.

Olympians shoot down Hawks, bag NAASCU crown- TPH

MANILA, Philippines -- Season after season, title after title blew past STI College in a blur. Wednesday, against the most storied varsity franchise in its playground, the Olympians finally forced the parade of trophies to stop right in their campus.

Lions, Knights seal title clash- TPH

MANILA, Philippines -- San Beda and Letran both took the expressway to get to the finals WEdnesday night.

Estrada clan, supporters crestfallen after guilty verdict- TPH

MANILA, Philippines -- When the lone audio monitor installed in one corner transmitted the bad news, the small room reserved for its listeners was suddenly enveloped in an unpleasant silence.

‘People are tired of political drama’ -- Arroyo- TPH

MANILA, Philippines -- (UPDATE) President Gloria Macapagal-Arroyo has urged Filipinos to accept the verdict and “live by the rule of law” following the graft conviction Wednesday of disgraced leader Joseph Estrada.

Estrada guilty of plunder- TPH

MANILA, Philippines -- “I took a gamble,” Joseph Estrada said -- and the nation watched as the gambler lost.

Southern Bangladesh gripped by tsunami panic- TPH

CHITTAGONG, Bangladesh -- Hundreds of thousands of people in southern Bangladesh fled their homes in panic fearing a tsunami after a major earthquake off Indonesia, officials said on Wednesday.

Metrobank investment unit less upbeat on stock market- TPH

MANILA, Philippines -- First Metro Investment Corp. (FMIC), the investment banking arm of Metrobank, the country's largest bank, expects the stock market index to hit 3,500 by the end of the year and not 4,000 as earlier expected.

Philippine central bank bracing for volatility- TPH

MANILA, Philippines -- The Philippine central bank is bracing for further volatility in the financial markets, but says the country is strong enough to withstand the worst of its effects.

Splash to hike capital- TPH

MANILA, Philippines -- Beauty product manufacturer Splash Corp. is seeking regulatory approval to hike its capital to P1 billion from P400 million.

Indonesia, India call off tsunami alerts- TPH

JAKARTA -- Indonesia and India called off tsunami alerts issued after a 6.6-magnitude aftershock rattled the west coast of Sumatra Wednesday following a major quake hours earlier, a meteorological official said.

APEC committee rectifies Philippine 'peasant shirt' error- TPH

The organizing committee of the just concluded Asia-Pacific Economic Cooperation (APEC) Summit in Sydney, Australia has withdrawn a media backgrounder that branded the Philippines' barong Tagalog as peasant shirt after the Philippine officials cried foul over the mistake, ABS-CBN Australia News Bureau reported Thursday.

Erap willing to go to Muntinlupa jail- TPH

Former president Joseph Estrada is willing to be incarcerated in an ordinary jail after being found guilty of the crime of plunder, his lawyer said Thursday.

Oil eases after topping $80 on supply fears- TPH

SINGAPORE - Oil prices dipped on Thursday but held near $80 a barrel and the previous day's record high, as dealers watched a tropical storm in the Gulf of Mexico after a sharp fall in U.S. crude stocks.

Asian currencies gain on dollar's broad weakness- TPH

SINGAPORE - Most Asian currencies extended their gains on Thursday as investors joined a global rush to sell the dollar ahead of an expected Fed rate cut next week.

POPCOM raises alarm vs RP's rising abortion cases- TPH

The Commission on Population (POPCOM) on Thursday raised the alarm on the increasing number of abortion cases across the country, ABS-CBN Regional Network Group said.

New York wraps up fashion week with nod to feminine elegance- TPH

NEW YORK (AFP) - New York wrapped up its fall Fashion Week Wednesday, promising retro elegance, light femininity and longer lines for next year's spring and summer ready-to-wear collections.

RP banks' capital adequacy ratio at 17.54% at end-march- TPH

The Philippine banking sector's capital adequacy ratio stood at 17.54 percent on solo basis and 18.83 percent on consolidated basis at end-March, the Bangko Sentral ng Pilipinas (BSP) said.

Angels show no mercy in 18-6 win over Orioles- TPH

BALTIMORE, Maryland (AFP) - Garret Anderson had five RBI and Vladimir Guerrero added four more to power the Los Angeles Angels to an 18-6 victory over the Baltimore Orioles on Wednesday.

MILF ready for peace talks even during Ramadan- TPH

Moro separatists said Thursday they can still talk peace with the government even during the holy month of Ramadan.

"Be it known to everyone that the MILF leadership is ready to work for peace even during the fasting month of Ramadan, Almighty Allah willing," Al Haj Murad, chairman of the Moro Islamic Liberation Front, said.

"There are no teachings in Islam that state one should defer work just to break fast. Islam does not advocate a special working mode for Ramadan. Slashing working hours would affect productivity and could promote a culture of slacking on the job," he added in the statement posted on www.luwaran.com.

Murad urged Muslims all over the world to unite "and contemplate deeply on the situation and welfare obtaining and engulfing the Muslim Ummah be it in Iraq, Afghanista, Kashmir, South Thailand, Chechnay, Palestine, Lebanon or in the Bangsamoro Homeland."

He urged the Muslim community in the Philippines to "redouble our efforts towards attaining our most coveted objective to regain our usurped freedom and immorally annexed homeland," which is Mindanao.

Murad came with the statement after the Philippine government assured that the stalled peace talks with the MILF will push through.

The GRP-MILF peace talks were stalled again last month after their supposed meeting in Malaysia was canceled.

In a recent visit to Malaysia, President Arroyo said she was assured by the Malaysian government that it will continue to support the peace talks. She said the peace talks remain on track.

Foreign Affairs Secretary Alberto Romulo, who accompanied the President in her Malaysian trip, said the peace talks between the Philippine government and the MILF are proceeding "very well" with Malaysia acting as facilitator of the negotiations.

Romulo said that with the help of Malaysia and other OIC countries like Libya, Brunei and other nations, it is only a matter of time before a permanent settlement of the Mindanao conflict is reached.

Libya and Brunei are members of the multinational International Monitoring Team supervising the Mindanao peace process.

The GRP-MILF negotiations, which were originally scheduled to resume late August in Malaysia, have been reset for October.

Romulo said that members of both the GRP and the MILF negotiating teams were preparing to go to Malaysia in the next few weeks.

The cancellation of the peace talks in Malaysia came as Mrs. Arroyo signaled a military offensive against "lawless elements" in Basilan and Sulu provinces.

The order came after 14 Marines -- 10 of them beheaded -- were killed in an encounter with MILF members. The Armed Forces of the Philippines claimed the MILF got help from the Abu Sayyaf bandit group.

The separatist group had denied involvement in the beheadings.

SKorea, US start consulting on NKorea peace pact- TPH

SEOUL (AFP) - South Korea and the United States have already begun talks about a possible agreement with North Korea formally ending the 1950-53 war on the peninsula, the US ambassador to Seoul said Thursday.

Legal Community Welcomes Erap Verdict- TPH

This is the first time a president is convicted of crime—and sends a message to all erring public officials...

Erap Will Appeal Case Before Sandiganbayan- TPH

Former President Joseph Estrada will ask the Sandiganbayan to reconsider its verdict declaring him guilty of plunder, his lawyers said...

(GMA7) Erap guilty of plunder, sentenced to reclusion perpetua- TPH

(Updated 10:04 a.m.) The Sandiganbayan meted out a guilty verdict against former President Joseph Estrada on plunder charges and sentenced...

(GMA7) Sandigan exec: Erap verdict unanimous vote of 3 justices- TPH

The three justices of the Sandiganbayan special division have reached a unanimous decision on the plunder and perjury case of...

Post-Election Appointments Serve Politics, Not Policy- TPH

The President’s recent appointments do not indicate serious housecleaning or attempts to improve governance