Both the US and the Philippine governments have learned good lessons from this case and we believe that the friendship between our two countries has grown stronger as we hurdled the issues in the spirit of mutuality. It is now time to move on as we let the wheel of justice take its course.

Meantime, the government will firm up its security arrangements with the United States. The government takes note of and appreciates the fact that the scheduled Balikatan exercise is now under more stringent rules for visiting personnel.

The continuous buildup of confidence -- internationally and domestically -- in the economy is concrete proof that President Arroyo's roadmap is right on course.

Malacanang said today the sustained upsurge of both international and domestic confidence in the economy is concrete proof that the roadmap set by President Gloria Macapagal-Arroyo for the country is on course.

Press Secretary and Presidential Spokesman Ignacio R. Bunye said in a statement that these economic gains were "achieved despite the high volume of political noise during the past year. We can certainly do more if we unite and row in one direction and thus accelerate the delivery of economic benefits to the grassroots."

Bunye’s statement came on the heels of widespread optimism of even better days ahead for the country, with the stock market on a roll, the peso maintaining its gain against the US dollar, the dollar remittances by overseas Filipino workers (OFWs) hitting new highs, interest payments on the government’s foreign debt on the downswing and investments, both foreign and domestic continuing to pour in.

Yesterday, share prices surged past the 3,000-point mark, the highest in almost 10 years. The composite index gained 43.85 points at 3,020.70, or 1.5 percent, its best performance since April 4, 1997.

Also yesterday, gainers outnumbered losers 76 to 35, while volume stood at 4.59 billion shares worth P2.32 billion.

Another good news is the continuing appreciation of the peso against the dollar, which was P48-$1 yesterday, higher than the P48.915-$1 Tuesday.

Bangko Sentral ng Pilipinas Deputy Gov. Diwa Guinigundo said that for every peso appreciation against the dollar, the government saves an estimated P4.2 billion on interest payments on its foreign debt. The Department of Finance (DOF) savings estimate is even higher at P4.5 billion to P5 billion.

The Philippine Economic Zone Authority (PEZA) reported that investment approvals registered a 24.59 percent increase to P83.674 billion last year. The 463 projects approved in 2006 represented 19.02 percent increase over that of 2005.

CEBU CITY—Officials of the National Organizing Committee (NOC) of the 12^th Summit of the Association of Southeast Asian Nations (ASEAN) have assured the success of the 16-nation gathering slated here from Jan. 10 to 15.

With less than a week to go before the historic summit opens here, the Cebu Organizing Committee (COC), jointly chaired by Cebu Gov. Gwen Garcia and Ambassador Marciano Paynor, Jr. announced that all preparations are now in place. Paynor is also NOC secretary general.

The COC met Thursday, Jan. 4, to discuss the final details of the preparations.

Garcia said that the Cebu provincial government is ready to host the summit, which was postponed last month due to typhoon "Seniang." The summit was originally scheduled on Dec. 10-15 last year.

"We can do it. We will do it again, with more fervor this time. All systems are go," Garcia said during the COC meeting held at the Provincial Capitol here.

Paynor said that President Gloria Macapagal-Arroyo, who is the chair of the 12^th ASEAN Summit, is being updated from time to time on the homestretch preparations for the event.

Ten leaders from the ASEAN and six from its dialogue partners will attend the summit. The ASEAN members are Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The six dialogue partners are Australia, China, India, Japan, the Republic of Korea, and New Zealand.

This will be the second time the Philippines will host the ASEAN Summit since the grouping was founded in Bangkok in 1967. The first was in 1987.

The newly completed Cebu International Convention Center (CICC) is now 100 percent complete, according to Cebu Provincial government engineering consultant Ernesto Viernes.

Earlier, Ambassador Vic Lecaros, Summit Spokesman, said that most of the summit-related activities will now be held at the CICC.

However, as originally planned, the leaders’ meetings will be held at the posh Shangri-La Mactan Island’s Resort and Spa.

Malacanang said today the government is determined to review the Visiting Forces Agreement (VFA) and work with Congress, if warranted, to amend certain provisions in the treaty to prevent future controversies.

This was disclosed by Press Secretary and Presidential Spokesman Ignacio R. Bunye in a statement following the controversy generated by the issue over the custody of convicted US Marine Lance Cpl. Daniel Smith.

Both the United States and the Philippine governments, Bunye said, have learned good lessons from the case.

"We believe that the friendship between our two countries has grown stronger as we hurdled the issues in the spirit of mutuality," he said. "It is now time to move on as we let the wheel of justice take its course."

Smith who was convicted of raping a 22-year-old Filipino woman, is now detained at the US Embassy where he was transferred from the Makati City Jail last Dec. 29. Philippine and US officials had invoked the treaty in implementing the transfer.

Yesterday, the Court of Appeals upheld the transfer, saying it was covered by an agreement signed by Foreign Affairs Secretary Alberto Romulo and US Ambassador Kristie Kenney.

Meantime, Bunye said the government will firm up its security arrangements with the United States following the latter’s decision to resume the joint Balikatan exercises with the transfer of Smith to US custody.

"The government takes note of and appreciates the fact that the scheduled Balikatan exercise is now under more stringent rules for visiting personnel," he added.

Earlier, Executive Secretary Eduardo Ermita called on his colleagues in the Cabinet, including the Department of Foreign Affairs (DFA), and even Congress to review the provision on "extraordinary circumstances" among others in the VFA, in order to avoid similar controversies in the future.

Malacaņang has affirmed the Presidential Anti-Graft Commission’s (PAGC) recommendation for a one-month and one-day suspension of Labor Arbiter Henry D. Isorena of the National Labor Relations Commission (NLRC) of Region III for failure to submit Statement of Assets, Liabilities and Net Worth (SALN) in 2002.

The Office of the President, through Executive Secretary Eduardo Ermita, approved the PAGC recommendation last Dec. 28.

Failure to submit SALN constitutes a violation of Section 8 of the Code of Conduct and Ethical Standards for Public Officials and Employees in relation to Section 7 of the Anti-Graft and Corrupt Practices Act.

"All public officials are mandated to submit their Statement of Assets, Liabilities and Net Worth every year. They should not rely nor blame their administrative staff for failure to remind them of their obligation," PAGC Chair Constancia de Guzman said.

The case stemmed from a complaint against respondent received by the PAGC for ill gotten wealth.

Investigation revealed that Isorena failed to file his SALN for 2002. The defendant’s assets for 2002 included two parcels of land both located at Bagbaguin, Meycauayan, Bulacan, and three cars -- a Delica Passenger Van, a 1977 Mitsubishi Gallant Sigma and a Honda City.

Aside from alleged sickness and work overload, Isorena also faulted the NLRC Region III Administrative Department’s failure to remind him to file his SALN for 2002.

PAGC decided that Isorena’s reasons regarding his health and workload were unmeritorious, and his reliance on the review and compliance procedure of their administrative division unjustifiable.