http://news.inq7.net/top/index.php?i...story_id=67295
Due to persistent coup rumors and recent revelations re coup plotters and destabilization attempts, Philippine president Gloria Macapagal Arroyo declares a state of emergency.
Practical effect: warrantless arrests, govt takeover of media (if deemed 'necessary') and frees up the military to crack down on rallies/protests/rebellions.
Business effect: too soon to tell but police power has definitely been expanded due to no warrant requirements. My guess is business as usual unless things get out of hand re the current EDSA REVOLT 20th anniversary of People power that toppled the late dictator, Ferdinand Marcos.