AGL 38.00 Increased By ▲ 0.01 (0.03%)
AIRLINK 210.38 Decreased By ▼ -5.15 (-2.39%)
BOP 9.48 Decreased By ▼ -0.32 (-3.27%)
CNERGY 6.48 Decreased By ▼ -0.31 (-4.57%)
DCL 8.96 Decreased By ▼ -0.21 (-2.29%)
DFML 38.37 Decreased By ▼ -0.59 (-1.51%)
DGKC 96.92 Decreased By ▼ -3.33 (-3.32%)
FCCL 36.40 Decreased By ▼ -0.30 (-0.82%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.95 Increased By ▲ 0.46 (3.17%)
HUBC 130.69 Decreased By ▼ -3.44 (-2.56%)
HUMNL 13.29 Decreased By ▼ -0.34 (-2.49%)
KEL 5.50 Decreased By ▼ -0.19 (-3.34%)
KOSM 6.93 Decreased By ▼ -0.39 (-5.33%)
MLCF 44.78 Decreased By ▼ -1.09 (-2.38%)
NBP 59.07 Decreased By ▼ -2.21 (-3.61%)
OGDC 230.13 Decreased By ▼ -2.46 (-1.06%)
PAEL 39.29 Decreased By ▼ -1.44 (-3.54%)
PIBTL 8.31 Decreased By ▼ -0.27 (-3.15%)
PPL 200.35 Decreased By ▼ -2.99 (-1.47%)
PRL 38.88 Decreased By ▼ -1.93 (-4.73%)
PTC 26.88 Decreased By ▼ -1.43 (-5.05%)
SEARL 103.63 Decreased By ▼ -4.88 (-4.5%)
TELE 8.45 Decreased By ▼ -0.29 (-3.32%)
TOMCL 35.25 Decreased By ▼ -0.58 (-1.62%)
TPLP 13.52 Decreased By ▼ -0.32 (-2.31%)
TREET 25.01 Increased By ▲ 0.63 (2.58%)
TRG 64.12 Increased By ▲ 2.97 (4.86%)
UNITY 34.52 Decreased By ▼ -0.32 (-0.92%)
WTL 1.78 Increased By ▲ 0.06 (3.49%)
BR100 12,096 Decreased By -150 (-1.22%)
BR30 37,715 Decreased By -670.4 (-1.75%)
KSE100 112,415 Decreased By -1509.6 (-1.33%)
KSE30 35,508 Decreased By -535.7 (-1.49%)

Long-awaited results of a marathon vote count gave Gloria Macapagal Arroyo a fresh term as Philippine president on Sunday, but opposition allegations of cheating and planned protests threatened to undermine her rule.
The close but widely expected victory paves the way for the US-trained economist to be declared president later this week, although the win still has to be approved by Congress and is facing a legal challenge in the Supreme Court by the opposition.
More than five weeks after Filipinos voted in May 10 elections, the final tally by a congressional panel showed Arroyo with 12,905,808 votes, beating her closest rival, film star Fernando Poe Jr, by just over one million. Her running mate, former newsreader Noli de Castro, won the vice-presidency.
"It's enough to govern," said Franklin Drilon, Senate majority leader and an Arroyo supporter.
Arroyo's lawmakers have a majority in Congress and should be able to vote down further opposition objections. Sunday newspapers quoted her as saying she was going ahead with plans to hold her inauguration ceremony before a June 30 deadline.
But opposition politicians said she would be a bogus president unless their doubts over the vote were addressed.
"This is a sad time in the history of our country," the main opposition party said in a statement.
"What the majority has done is to abort the truth in the womb of our sacred electoral process."
The peso fell near its all-time low of 56.45 to the dollar last week and Manila stocks have been subdued for weeks by the political uncertainty, fuelled by opposition plans to protest Arroyo's victory and rumours of coup attempts.
Police and military bomb disposal experts defused two bombs found in Manila on Sunday, one in the canteen of the defence department and the other outside the interior department, officials said, adding they did not know who planted them.
OPPOSITION ANGER: Opposition lawmakers had demanded that election returns be re-opened to examine what they say are discrepancies in the results. Administration members refused, saying the counting must be completed by June 30, when Arroyo's current term ends, to avoid a constitutional crisis.
"In 2001, Gloria Macapagal Arroyo became president without the benefit of a popular mandate," political commentator Randy David wrote in the Philippine Daily Inquirer.
Investors and business leaders had hoped the May election would give Arroyo her first real mandate and a further six years in which she would push through reforms more forcefully.

Copyright Reuters, 2004

Comments

Comments are closed.