February 5, 2002, Asia Pulse, Philippines Newspaper Highlights - Feb 5, 2002,

February 5, 2002, Asia Pulse, Philippines Newspaper Highlights - Feb 5, 2002,
Tuesday 11:12 AM

MANILA, Feb 5 Asia Pulse - Highlights of today's newspapers:

STAR

- New-York-based international credit rating agency Moody's Investors Service upgrades yesterday the country's credit outlook from negative to stable, citing President Arroyo's efforts to put the country on track to fiscal soundness and sustainable growth.

- "This not an American war," said President Arroyo to US Secretary of State Colin Powell at the end of her working visit to the United States where she met with American officials about the ongoing joint RP-US "Balikatan 2002" military exercises."

- After weeks of denials, President Arroyo finally admitted Saturday night that she has hired the services of an international public relations firm to help the Philippine improve its image abroad.

TODAY

- The government rejected higher bid rates for 91-day Treasury bills in yesterday's auction to send a strong signal to the market that local interest rates should go down further.

- President Arroyo's plan to hire former New York City mayor Rudolf Giuliani as consultant for peace and order drew flak from an opposition congressman who said that is a slap on the face of the local law-enforcement agencies.

INQUIRER

- For the first time in 17 years, the Philippines reported a full-year export contraction of 15.6 per cent in 2001 from a year ago due to the sluggish demand for electronics arising from the global economic slowdown.

- The United States has removed the Philippines as a beneficiary of its multimillion-dollar yearly food program because the Arroyo administration used part of the food aid as "pork" payments for local officials, opposition Sen. Edgardo Angara said yesterday.

STANDARD

- The National Telecommunication Commission and four major cellular phone operators will sign today a memorandum of agreement to curb rampant cellphone theft by blocking handsets using the phone's international Mobile Equipment Identity.

MALAYA

- Strong economic growth and minimal shortfalls for the country's budget deficit target convinced Moody's to revise the Philippines' rating outlook from negative to positive, according to Bangko Sentral ng Pilipinas Governor Rafael Buenaventura.

BULLETIN

- President Gloria Macapagal Arroyo returns today to Manila from visits to the United States, Canada, and the United Kingdom.

TIMES

- The Armed Forces is pushing for the declaration of a state of emergency in Mindanao, a ranking military officials told The Manila Times Sunday night.

TRIBUNE

- Widespread protests are expected when more than 9,000 government employees in the National Power Corp. and three other electricity-related agencies are given their walking papers sometime in March to June this year under the implementing rules and regulations of the Electricity Industry Reform Act. ASIA PULSE