Monday, June 11, 2007

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Arroyo has much at stake in elections

MANILA, Philippines (AP) -- President Gloria Macapagal Arroyo's name isn't on the ballot, but she has plenty at stake in the Philippines' midterm elections Monday.

Much of the attention will be on the races for Congress, especially the House of Representatives. The opposition has mounted two impeachment efforts against Arroyo over allegations that she rigged the 2004 presidential vote, only to see both bids voted down in the House, where the president's allies dominate.

A major shift in power in the House would immediately spark moves to revive the impeachment case and send it to the opposition-dominated Senate for trial.

Still, the odds appear in favor of Arroyo -- who also survived two coup plots and numerous other crises during six years in power -- despite weak approval ratings.

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Guinness Peat FY pretax profit hit by forex, few capital ...

LONDON (AFX) - Guinness Peat Group PLC reported a full-year pretax profit from continuing operations of 36 mln stg versus a restated 79 mln mainly due to 'very few' realised capital transactions and the loss of earlier foreign exchange gains in the second half.

Profit on disposal of investments and other net investment income was 45 mln stg for the year ended Dec 31 as compared with a restated 77 mln last year.

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