More about How the Other Half Live:

UBS posts fresh $10bn write-down


UBS had warned it may take further hits from the mortgage meltdown
UBS has reported a further 11.2bn Swiss francs ($10bn; £4.9bn) in write-downs from its exposure to bad debt in the sub-prime US mortgage sector.
The Swiss investment bank had already said in October that the crisis had cost it about $3.5bn.
The firm said these losses meant it might now make an overall loss in 2007.
UBS also revealed that it had received a $9.7bn injection of funds from the Government of Singapore Investment Corporation.
The sub-prime write-down represents more than a monetary loss for UBS - it's a serious blow to a valuable brand
Robert Peston
BBC business editor


A Middle East investor - reported to be the Oman government - has put a further $1.7bn into the bank.
BBC business editor Robert Peston said that the fact UBS had felt the need to raise so much new capital was "all you need to know about the gravity of what has occurred, both for UBS and for the world financial system".

"It's further evidence of the transfer of financial power from the western economies to the great cash generating economies of Asia, Russia and the Middle East - which are able to dictate the terms on which they prop up our important institutions," he added. <http://news.bbc.co.uk/2/hi/business/7135872.stm>


Survey: 5 of 10 Pinoys expect nothing new about X’mas

Filipinos expect nothing new about celebrating the Christmas season this year.
Results of a nationwide survey conducted by Pulse Asia from October 20 to 31 showed that 50 percent of 1,200 respondents believed that just like last year, the Christian festivity marking the birth of Jesus Christ would be “neither more nor less prosperous."

This sentiment, according to Pulse Asia, “is most pronounced" in Metro Manila (57 percent), and among those from Class ABC (61 percent).

“Least inclined to think this way," were respondents from the poorest socio-economic class E (42 percent), and the Visayans (43 percent) and the Mindanaoans (43 percent).

Meanwhile, Pulse Asia said nearly the same percentages of Filipinos believed that this year’s Christmas season would be “either more prosperous" (27 percent) or “less prosperous" (23 percent) than last year.

The survey also found out that those from Mindanao (38 percent) were the most optimistic about the Yuletide season “as they look forward to a more prosperous" Christmas this year.

This optimism was however “least pronounced" among those from Luzon and Metro Manila, and Class ABC (21 to 24 percent), Pulse Asia said. - GMANews.TV <http://www.gmanews.tv/story/72465/Survey-5-of-10-Pinoys-expect-nothing-new-about-Xmas>


Villar urges House to pass PERA measure

Senate President Manuel Villar Jr called on the House of Representatives to act on a bill that seeks to create a sustainable retirement fund for Filipino workers in the public and private sector, especially those working overseas.
The Senate passed on third and final reading Senate Bill 1882 otherwise known as Personal Equity and Retirement Account (PERA) Act last Wednesday.

“Given the many benefits this bill have been envisioned to bring, I appeal to our colleagues in the Lower House to approve the PERA bill so this could be part of the many laws we intend to offer the people come the new year," Villar said.

The measure proposes to establish a provident personal savings plan, or a legal and regulatory framework for retirement plans comprised of voluntary personal savings and investments.

“This is similar to the United States’ 401(k) plans, which provides for a tax-advantaged individual retirement program. This will encourage savings and improve our country’s savings rate thus develop our local capital market," said Villar, who has made fortunes as an entrepreneur.

In the bill, an individual contributor can make a total maximum annual contribution of P50,000 to his PERA account. The contributor will then be eligible to an income tax credit equivalent to five percent (5%) of the total PERA contribution.

The measure seeks to supplement the Social Security System and Government Service Insurance System pension scheme by setting up a privately sponsored retirement fund.

“A savings scheme with accompanying social protection and insurance that matures upon retirement is an attractive investment plan for OFW remittances. Our workers can now feel secure about their retirement years," Villar explained. <http://www.gmanews.tv/story/71867/Villar-urges-House-to-pass-PERA-measure>

Escaping El Salvador's sex traffickers

By Linda Pressly
Reporter, Crossing Continents

Trafficking around Central America is endemic and often women and children are forced into prostitution.
But now decisive international collaboration is beginning to have an impact.


Remembering what happened to her god-daughter is painful
Rafaela is godmother to Milagros and has looked after her since her mother died as a child, treating her as she would a daughter.
When Milagros told her godmother about a job offer in a casino in El Salvador, Rafaela was immediately suspicious.
"I told her to be careful," she remembers, "but when she got a contract it all seemed OK.
"Her salary was going to be $1,000 a month - nearly 10 times her salary here in Nicaragua. And they said they would pay for her food and accommodation for the first two months too."

Leaving her baby with Rafaela in Managua, Milagros set off for El Salvador's capital, San Salvador. <http://news.bbc.co.uk/2/hi/programmes/crossing_continents/7140342.stm>


Kenya slum dweller gets UK degree



Sammy Gitau defied the odds to get from Mathare to Manchester
A Kenyan who found a prospectus from Manchester University in a rubbish bin says he is overjoyed to be receiving his Masters degree from there.
Sammy Gitau was initially refused a visa to attend the UK university as he had only two years of formal education.
He grew up in a slum district in the Kenyan capital, Nairobi, and from the age of 13 became his family's breadwinner after his father's murder.
He sold drugs and battled addiction before turning his life around. <http://news.bbc.co.uk/2/hi/africa/7141804.stm>



Countess Spencer was married to Diana's father John, Earl Spencer

Diana's stepmother captivates inquest

By Victoria Bone , BBC News
Raine, Countess Spencer, captivated courtroom 73 at the inquest of Diana and Dodi Al Fayed on Wednesday.

As Diana's stepmother and close friend, she was determined to make clear how difficult the princess's life had been and what a positive effect Dodi had had on it.  <http://news.bbc.co.uk/2/hi/uk_news/7141205.stm>


October remittances jump 17%, hit record $1.39B - BSP

Remittances from overseas Filipinos coursed through banks surged 17.1 percent to a record high of $1.388 billion in October as earnings were sent home in anticipation of the holiday season.
In a statement on its website, the Bangko Sentral ng Pilipinas said the October figure brings the level of remittances for the first ten months of the year to $11.9 billion, an increase of 15.2 percent from a year ago.

The BSP said most of the remittances came from the United States, the United Kingdom, Italy, the United Arab Emirates, Saudi Arabia, Canada, Singapore, Japan, and Hong Kong.

The growth in remittances was also consistent with the recovery in the number of overseas workers, the BSP said, citing preliminary data from the Philippine Overseas Employment Administration.

The POEA data showed that total deployment number in October climbed 3.9 percent to 88,058, the fourth consecutive month that the deployment figure was higher compared to the respective year ago level.

Deployed land-based workers rose 10.7 percent to 64,066 in October, while the number of deployed sea-based workers lessened 10.7 percent to 23,992. <http://www.gmanews.tv/story/72863/October-remittances-jump-17-hit-record-139B---BSP>

Malaysia leprosy settlement fights on

By Robin Brant
BBC News, Kuala Lumpur

Campaigners say the settlement is an important heritage site
Dozens of people with leprosy in Malaysia have teamed up with students to try to save a decades-old settlement.
Residents of the Sungai Buloh settlement, in a lush valley on the outskirts of Kuala Lumpur, are being forced out of their homes and into new accommodation, to make way for the expansion of a neighbouring university.
Developers were given permission to build on the site where leprosy has been treated for almost 80 years.
The 39 people fear that the rest of the site will be built over unless the government agrees to protect it.
Spread over 600 acres, most of the buildings on the settlement are now dilapidated.
This place must be kept for heritage so the next generation will understand
Lee Chor Seng
But the community has not vanished.
There are more than 300 residents. There used to be many more - about 2,000 at the peak.
When Lee Chor Seng first arrived in the 1950s, the inhabitants were all patients, seeking treatment for an incurable disease.
There was a time before that when they were inmates, locked away from the rest of society.

Now they are simply residents, and Mr Lee is their leader. <http://news.bbc.co.uk/2/hi/asia-pacific/7130635.stm>


Digital activists expose abuse

By Lauren Howey
BBC News, United Nations, New York


The graphic footage became public in November last year

Shaky digital camera footage posted online shows one man beating up another - but this is not an amateur fight sequence loaded on YouTube by film students.

It was filmed by Egyptian police, documenting the beating of a prisoner, and circulated within Egypt to intimidate dissenters.

The footage also made its way to international bloggers and caused a worldwide scandal. It eventually resulted in the arrest and conviction of two police officers.

Such is the power of online video to document human rights abuse and raise international awareness. <http://news.bbc.co.uk/2/hi/americas/7139218.stm>


7-year-old girl first to catch bird flu in Myanmar

YANGON - Myanmar has confirmed the country's first case of a human being infected by bird flu a 7-year-old girl who has since fully recovered, state media reported Saturday.
The New Light of Myanmar newspaper said the World Health Organization had confirmed that the girl from Keng Tung in northeastern Myanmar had been infected with the deadly H5N1 virus.

She was hospitalized on Nov. 27 and released on Dec. 12 in good condition after being treated with the antiviral drug Tamiflu, it reported.

According to WHO, there have been 340 cases of bird flu in humans worldwide since 2003, 208 of them fatal.

Experts believe most human victims of the virus were infected through direct contact with sick birds. Although bird flu is difficult for humans to catch, experts fear it could mutate into a form that spreads easily among people and spark a flu pandemic.

The New Light of Myanmar said the young victim, Nan Kham Than, was among four people suspected of being infected with the virus during a bird flu outbreak in poultry in mid-November. Laboratory tests confirmed that only the girl had H5N1.

The Health Ministry for 10 days closely monitored 689 persons who were involved in culling chickens or lived near the affected farms, and found that no other people were infected, the newspaper said.

Myanmar reported its first bird flu outbreak in March 2006 in the central part of the country, but until now had reported no human infections.

H5N1 began ravaging Asian poultry stocks in late 2003, leading to the death or slaughter of millions of birds.

Bird flu has recently resurfaced in parts of Asia, with human deaths reported in Indonesia and China and fresh poultry outbreaks plaguing other countries during the winter months when the virus typically flares. - AP <http://www.gmanews.tv/story/73001/7-year-old-girl-first-to-catch-bird-flu-in-Myanmar>


Pinoy on Saipan acquitted of theft a day after guilty verdict

SUSUPE, Saipan – Guilty, then, not guilty. A Filipino accountant who was found guilty on Thursday by a jury for stealing over $120,000 from the company he worked for was acquitted a day later by a judge, citing lack of sufficient evidence to prove beyond a reasonable doubt that he committed all 13 counts of theft by deception.
Edgardo Macabalo, from Caloocan, was in tears as he and his wife hugged family members who were in the CNMI Superior Court Friday when the judge said he was discharged the case.

“Right now I just want to be with my family," Macabalo said as he emerged from the courtroom with his family.

He said justice has been served and thanked the Public Defender’s Office for its help in his case.

CNMI Superior Court Associate Judge Ramona Villagomez Manglona reversed the jury’s guilty verdict after completely reviewing all the records in the case. She said she would issue a written order.

On Thursday afternoon, a jury found Macabalo, a former accountant at Marpac Inc., guilty of all 13 counts of theft by deception for stealing over $120,000 from his employer’s beer delivery collections in 2005.

Police arrested Macabalo in May 2006 for theft.

Macabalo allegedly collected $4,000, $4,000, $10,000, $20,000, $6,400, $16,000, $16,000, $10,000, $4,000, $4,200, $354.75, $12,000 and $14,000, for a total of $120,954.75, but he never turned over the money to the company, according to an investigator.

But on Friday morning, the judge granted the renewed motion for judgment of acquittal filed by Assistant Public Defender Richard Miller, counsel for Macabalo.

Miller told local media that the judge's decision is a wonderful thing for the justice system of the U.S. Commonwealth of the Northern Mariana Islands (CNMI), and the growth of justice in the islands.

He said the prosecution did not meet the burden to prove beyond a reasonable doubt that Macabalo is guilty.

The CNMI is home to about 20,000 foreign workers mostly from the Philippines and China. - Haidee V. Eugenio, GMANews.TV <http://www.gmanews.tv/story/72998/Pinoy-on-Saipan-acquitted-of-theft-a-day-after-guilty-verdict>

Has Mbeki been good for South Africa?

As South Africa's governing African National Congress prepares to decide whether President Thabo Mbeki should continue to lead the party, former ANC MP Andrew Feinstein says Mr Mbeki has badly damaged the party.
Mbeki's tenure as ANC chief may be coming to an end
President Thabo Mbeki has presided over a serious moral decline in South Africa's African National Congress (ANC) - facing its worst crisis since its founding in 1912.

Just 13 years ago, at liberation in 1994, the ANC had defeated apartheid and was at its zenith.
And on his assumption of the party presidency in 1998 from Nelson Mandela, Mr Mbeki began the necessary transformation of a liberation movement into a more disciplined and effective governing party, centralising power in his office.
But when he became the country's president after the 1999 elections, the programme of change accelerated beyond what was required for effective government.
As an ANC member of parliament at the time, my experience of these cold winds was primarily through the replacement of our convivial chief whip by the arrogant chairperson of parliament's defence committee, Tony Yengeni, who established himself as the centre of Mr Mbeki's political control.
It soon became clear that the primary political currency had transformed from a commitment to the common values of the organisation to uncritical loyalty to the leader.
This manifested on all of the main issues of the day: HIV/Aids, Zimbabwe and corruption. <http://news.bbc.co.uk/2/hi/africa/7127751.stm>


-------------------------------------------------------------------------------
Yet more about the Other Half
Globalisation Index
News Index
Index Nation States
Index Cultural Systems
Some personal Reflections on the  News
-------------------------------------------------------------------------------