MANILA, Philippines -- Malacañang cannot explain immediately why President Gloria Macapagal-Arroyo's announcement that the World Bank had committed $10 billion for a contingency fund for Southeast Asian nations against impact of a looming global recession was denied by the monetary body’s officials.
Govt troops capture 15 MILF rebel strongholdsThousands of troops backed by air and artillery fire have captured 15 Muslim guerrilla strongholds in the southern Philippines after five days of intense fighting, while more than 272,000 villagers... + Full Story