In the meantime, some analysts believe the Philippine market would have collapsed even without the BW scandal.
Ho became chairman of BW Resources on October 11, after buying about 10% of the listed company.
Particularly troubling in this regard were indications that the Soviet Union has continued to pursue a vigorous BW program.
The 1972 Biological Weapons Convention was supposed to preclude the production or stockpiling of agents for biological warfare (BW).
BW's property portfolio in this way could allow the government to privatise it without the need for a cash injection.
He specifically cited an explosion at a plant near Sverdlovsk in Siberia suspected of association with the Soviet BW program.
The former Soviet Union has long been suspected by intelligence analysts of having retained a covert and illegal BW capability.
This is all the more worrisome insofar as the Iraqi BW program would be the easiest of Iraq's proscribed programs to reconstitute.
The former Soviet Union has long been suspected by intelligence analysts of having retained a covert -- and illegal -- BW capability.
In an interview on CNN yesterday, moreover, Ambassador-at-large for Russian affairs Strobe Talbott stated that Russia was a country "armed with biological weapons" (BW).
There is already on the books a global ban on easily produced, cheap weapons of mass destruction the 1972 prohibition on biological weapons (BW).
Moore, who wrote the story in BW, said that banks are going to look for more income from their retail operations and will focus on cross-selling.
International monitors charged with ferreting out Saddam's secret biological weapons program never were able to wrest from the Iraqi despot any sample from his BW stockpile.
BW, which is planning to build a money-spinning marina there.
Philippine President Joseph Estrada may have only made things worse for his pal Dante Tan when he quashed talk of a cover-up at BW Resources, of which Tan is a major shareholder.
There is reportedly also preliminary evidence that directors of top brokerages illegally traded BW Resources shares for their own personal accounts, on insider knowledge that Macau gambling king Stanley Ho was on his way.
Importantly, the question with respect to the secret American biodefense program does not appear to be whether the United States has the right under the Biological Weapons Treaty to conduct research for BW defensive purposes.
While America has more than lived up to the terms of this agreement it has, for all intents and purposes, even dispensed with permitted research and development associated with BW defenses it has considerable evidence that other signatories are systematically violating the Convention.
The result was graphically illustrated in the course of the war with Iraq: Notwithstanding the BW Convention, the enemy was equipped with lethal viruses and the United States was forced to rush hastily ginned up inadequately tested antidotes and less-than-effective defensive systems into the theater of operations.
The Biological Weapons Convention would afford foreign intelligence services and business competitors access to many of the United States's most sensitive proprietary processes and data in the fields of biotechnology and genetic engineering all without contributing appreciably to the deterrence or detection of covert and illegal BW activities.
Perfecto Yasay, the outgoing chairman of the Securities and Exchange Commission, says he has sent summonses to 59 individuals, at least half of them brokers, to show cause why they should not be charged with insider trading and manipulation involving BW. The charges against them will be filed with the Department of Justice before Yasay leaves office on March 25.
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