Contingency plan discussed for water shortage

June 20, 2019 | 9:04 pm

THE METRO Manila Disaster Risk Reduction and Management Council (MMDRRMC), concerned government agencies and water concessionaires have met to discuss contingency measures on how to prepare for a worsening water shortage. The meeting was attended by officials of Metropolitan Waterworks and Sewerage System and water concessionaires, Philippine Atmospheric, Geophysical and Astronomical Services Administration, and other concerned government agencies. To facilitate the delivery of water supplies to areas that may be affected, Metropolitan Manila Development Authority and concurrent MMDRRMC chairman Danilo Lim said trucks of Maynilad Water Services Inc. and Manila Water Company Inc. are still exempted from the number coding scheme.

Grab hatchback drivers to file complaint against LTFRB

June 20, 2019 | 9:04 pm

A GROUP of deactivated Grab hatchback drivers and a labor group will file a class suit on Friday against the Land Transportation Franchising and Regulatory Board (LTFRB) for its policy on hatchback vehicles. “Kinukumpleto namin ‘yung mga kailangan na dokumento para magkaroon ng kaukulang permit or provisional authority. Pagdating sa Step 1 pa lang, e-evaluate nila ‘yung papel at kapag nakita nila na hatchback, papaalisin ka na. Ganun lang po, walang paliwanag,” said Leonardo V. De Leon, Jr., Hatchback Community President during a press briefing in Quezon City on Thursday, June 20. (We are already completing the documents required to have a permit or provisional authority to operate. However, as they evaluate your paper in Step 1, they will reject your application if they see that you are driving a hatchback. Just like that, no explanation). Last week, ride-hailing giant Grab Philippines deactivated 8,000 vehicles, including hatchbacks, for not submitting any proof that they were granted provisional authority by LTFRB. Hatchback Community, which has 1,225 drivers removed from the Grab platform, and Defend Job Philippines will file the complaint before the Regional Trial Court of Quezon City. They will be assisted by Lawyers for Commuters Safety and Protection. Sought for a comment, Grab Philippines said, “To clarify, we are limited by the regulations that we need to abide by. If a TNVS has no proper docs, regardless if the vehicle is HBs (Hatchbacks) or Sedan, we can no longer allow on our platform. But do we support plight of the HBs? Yes, we do.” — Vince Angelo C. Ferreras

Forum held on grassroots development

June 20, 2019 | 9:02 pm

THIRD SECRETARY Junichi Hirano attended the “20^th Philippine Council for NGO Certification Annual Assembly” in Quezon City on June 4 to promote “The Grant Assistance for Grassroots Human Security Projects (GGP),” a program to assist NGOs and local public authorities in responding to various development needs. The event was attended by around 500 accredited NGO members of the PCNC. Since 1989, the Embassy of Japan had implemented 543 projects in the Philippines under the GGP.

Makati rewards honor graduates of public schools

June 20, 2019 | 9:02 pm

THE CITY government of Makati has granted cash incentives ranging from P6,000 to P10,000 to some 2,014 honor graduates from the city’s public elementary and senior high schools for school year 2018-2019. Makati Mayor Mar-len Abigail Binay led the Gawad Parangal ceremony held on June 18 and 19 at the A. Venue Hotel along Makati Avenue, where she handed each awardee a voucher for claiming the cash incentive at the Cash Division at City Hall. She also raffled off 60 brand new laptops among them. City schools division superintendent Rita Riddle said the cash incentives were given as follows: P6,000 each for those who graduated with honors; P8,000 for those with high honors; and P10,000 for those with the highest honors.

Chinese construction workers arrested for ‘causing trouble’

June 20, 2019 | 9:01 pm

THE BUREAU of Immigration (BI) arrested 35 Chinese working as construction workers in a subdivision in Parañaque City, following a complaint that they were “causing trouble” at the construction site. “The location keeps on popping in different complaints, so this prompted us to conduct surveillance in the area and we indeed confirmed the presence of these illegal workers,” BI Intelligence Division Chief Fortunato S. Manahan, Jr. said. He added that at least two Philippine construction companies with building projects in three different streets in the village were involved in the hiring of the Chinese nationals. According to the policy of BI, “foreign national are disallowed from engaging in work involving manual labor.” BI Commissioner Jaime H. Morente said the Chinese will be deported and barred entry to the Philippines. — Vann Marlo M. Villegas

EU Ambassadors exploring opportunities in Mindanao

June 20, 2019 | 9:01 pm

THE PRESENCE of the EU Ambassadors in the opening of the Davao Investment Conference 2019 (Davao ICON 2019) is an indication of their interest in exploring opportunities in Mindanao, according to Dr. Maria Lourdes G. Monteverde, Davao ICON 2019 chairperson. EU countries participating in this year’s conference include the Netherlands, Sweden, Russia, France, Hungary, and Belgium. EU Ambassadors from Singapore, Mexico, and Romania were also present. Davao City Chamber of Commerce and Industry Inc (DCCCII) president Arturo M. Milan observed the presence of the ambassadors as merely observing security issues, especially considering that Mindanao is still under martial law. For his part, Lemuel G. Ortonio, officer-in-charge of the Davao City Investment Promotion Center, said, “The city is confident of achieving its target of 3 million tourist arrivals in 2019 with the addition of more international routes to and from Davao. In general the tourism industry in Davao is mainly driven by local tourists. However, in the past number of years we have seen a growth in foreign arrivals.” Topping international arrivals in Davao City are American, Japanese, Chinese, and Korean visitors. — Maya M. Padillo

PHL shares rise further after dovish Fed statement

June 20, 2019 | 9:00 pm

By Arra B. Francia, Senior Reporter

SHARES CLIMBED on Thursday, as investors digested dovish comments from the United States Federal Reserve.

The benchmark Philippine Stock Exchange index (PSEi) eked out gains of 0.06% or 5.41 points to close at 8,022.42. The broader all-shares index likewise rose 0.18% or 8.81 points to 4,891.38.

“Market continued its upward momentum today on dovish comments by US Fed & possible easing of interest rates on its next meeting plus the optimism created by the possibility of Xi — Trump meeting in Japan at the G20 to resolve the US-China tariff trade war,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message on Thursday.

The US Federal Open Market Committee on Thursday decided to keep benchmark rates unchanged. It also kept a dovish policy stance due to increased uncertainties in the global economic outlook as well as muted inflation pressures.

This is in addition to the renewed optimism for the resolution of the US-China trade war, as US President Donald J. Trump earlier confirmed his meeting with Chinese President Xi Jinping by the end of the month.

The PSEi reflected the positive sentiment in Wall Street overnight, as the Dow Jones Industrial Average firmed up 0.15% or 38.46 points to 26,504. The S&P 500 index went up 0.3% or 8.71 points to 2,926.46, while the Nasdaq Composite index rallied 0.42% or 33.44 points to 7,987.32.

Most Asian indices also climbed on Thursday on the back of the Federal Reserve’s dovish comments.

“Investors in the Philippines quietly bought into the market as a precaution ahead of the BSP (Bangko Sentral ng Pilipinas) announcement…while others took profit early morning after it was confirmed the Fed would maintain their rates,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile phone message.

After the stock market’s close, the BSP announced that it also chose to keep policy rates steady as the outlook for inflation remained manageable.

Four sectoral indices moved to positive territory, led by mining and oil which jumped 1.87% or 134.01 points to 7,291.35. Industrials advanced 0.74% or 87.32 points to 11,777.60; financials gained 0.64% or 11.13 points to 1,743.24; while holding firms added 0.15% or 11.88 points to 7,668.32.

Meanwhile, property dropped 0.39% or 16.89 points to 4,304.55, while services shed 0.38% or 6.47 points to 1,692.40.

Some 1.88 billion issues valued at P6.74 billion switched hands, slimming from the previous session’s P7.30 billion.

Foreign investors remained in net selling mode for the second straight session at P588.08 million, ballooning from Wednesday’s P26.43 million.

Advancers outpaced losers, 121 to 71, while 49 names were unchanged.

Peso climbs to two-month high as Federal Reserve signals cuts

June 20, 2019 | 9:00 pm

THE PESO strengthened further against the dollar on Thursday to hit a fresh two-month high, as risk appetite improved following the dovish statement of the US Federal Reserve.

The peso closed Thursday’s session at P51.645 versus the greenback, 24.5 centavos stronger than the P51.89-per-dollar finish recorded on Wednesday.

This was the peso’s best showing in more than two months or since it closed at P51.64 against the dollar last April 15.

The peso traded stronger the whole day, opening the session at P51.75 per dollar. It dropped to a low of P51.78 against the greenback, while its intraday high was its closing rate.

Trading volume dropped to $829.16 million from the $902.45 million that changed hands the previous session.

Traders attributed the peso’s continued strength to dovish remarks from the US central bank.

As expected, the Fed kept its policy unchanged during its June 18-19 meeting. However, it dropped its “patient” rhetoric on policy, saying it would “act as appropriate” to keep the economy growing amid trade tensions abroad and global growth slowdown.

Interest-rate futures surged in response to the dovish remarks, and traders are now betting heavily on three rate cuts by the end of the year. US stocks also turned higher.

“The peso appreciated following the remarkably dovish cues from the US Federal Reserve rate decision earlier today despite keeping policy rates steady,” a trader said in an e-mail on Thursday.

Another trader said the dovish statement of the Fed increased risk appetite in the market, prompting investors to gamble on emerging market currencies like the peso.

“We’re seeing the dollar-peso going very low, since the market was expecting a 25-basis-point cut by the Bangko Sentral ng Pilipinas (BSP), but the central bank kept its rate unchanged,” the trader added.

The BSP also kept its benchmark policy rates unchanged at its meeting yesterday. BSP Governor Benjamin E. Diokno said the pause in monetary policy easing will allow them to assess the impact of its previous adjustments, including the cuts in banks’ reserve requirement ratios.

The BSP also trimmed its full-year inflation forecast to 2.7% from the 2.9% projected last May, driven by the expectations of lower oil prices in the global market as well as the appreciation of the local unit versus the dollar.

“The local currency might continue to appreciate after the Philippine central bank held its policy rates today,” the first trader said on Thursday.

For today, the first reader expects the peso to move between P51.50 and P51.80 versus the dollar, while the other gave a P51.35-P51.75 range. — Karl Angelo N. Vidal with Reuters

Halal hotel services eyes Middle East market

June 20, 2019 | 8:59 pm

MARCO POLO Davao (MPD) is now gearing to improve its Halal services to cater to the Middle East market following the recent launch of Doha-Davao direct route by Qatar Airways. “We are now preparing for our Halal friendly facilities. In the Cafe Marco we have the Halal section,” said MPD communications officer Jeline Mariz G. Galagar. The five-star rating recently conferred by the Department of Tourism (DoT) reaffirms Marco Polo Davao’s position as the creme de la creme accommodation at the heart of Davao. “We are the only hotel in Davao and in Mindanao being recognized with five star rating. Marco Polo always strive to be the preferred hotel in the city and in Mindanao,” MPD general manager Colin Healy said. “We will continue to improve our services. We will continue improving. We have the right team that is the key and strength of the hotel. My job is to mentor and take care of them, we reach out and listen to them and share experiences.” — Maya M. Padillo

Nation at a Glance — (06/21/19)

June 20, 2019 | 8:41 pm

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

League-leader TNT out to keep tourney lead

June 20, 2019 | 8:11 pm

By Michael Angelo S. Murillo
Senior Reporter

STEAMROLLING TNT KaTropa shoot for their fifth straight win in the Philippine Basketball Association Commissioner’s Cup when they collide with the Columbian Dyip in the league curtain-raiser today at the Cuneta Astrodome in Pasay City.

The hottest team right now in the midseason PBA tournament, winners of their last four matches, the KaTropa (6-1) look to make it five wins in a row to keep their hold of the top spot in the standings, which it currently shares with the idle Northport Batang Pier, and give further wind to their push for a top-two finish in the elimination round.

TNT is coming off a 104-91 win over the Meralco Bolts on June 15 where it was steady throughout to outlast its opponent on its way to the streak-maintaining victory.

Import Terrence Jones had another stellar showing for the KaTropa in the win, finishing with 49 points, 18 rebounds and two blocks.

Veteran Ryan Reyes exploded for 19 points, going 6-of-7 from beyond the arc, while Don Trollano added 16 of his own.

Troy Rosario was the other TNT player in double digits with 11 points.

Following the win, TNT coach Bong Ravena said he is very happy with the way his team is playing with the locals complementing the play of their reinforcement Jones.

He said the Meralco game was an example of that.

“It was another tremendous game for Terrence. Hopefully he can score 40-plus points every time to make it easier for us. But it is not only him but the local as well who are stepping up,” the TNT coach said.

Looking to stop TNT’s winning streak is Columbian (1-4), a team out to make a strong late push in the tournament to catch the playoff bus.

The Dyip last played on June 16, losing to the Magnolia Hotshots Pambansang Manok, 110-103.

New import Lester Prosper made his debut for Columbian in said game, tallying 26 points and 14 rebounds.

Rookie CJ Perez had 18 points while Glenn Khobuntin finished with 14 markers.

Despite absorbing another loss, Columbian Dyip coach John Cardel said he liked what he saw with his team last time around.

“Our import played well. He just needs to adjust to our system. We have back-to-back games on Friday and Sunday and hopefully we will be adjusted by that time,” he said.

Meanwhile, playing in the second game at 7 p.m. are the San Miguel Beermen (1-3) and Alaska Aces (4-3).

SBP sees competitive youth team in Under-19 World Cup

June 20, 2019 | 8:07 pm

By Michael Angelo S. Murillo
Senior Reporter

BELIEVING that it has assembled a competitive team for the FIBA Under-19 World Cup, the Samahang Basketbol ng Pilipinas (SBP) said it expects Gilas Youth to make waves in the tournament which begins next week in Greece.

Bannered by the twin towers of Kai Sotto (7’1”) and AJ Edu (6’10”), Gilas Youth is the tallest team ever assembled by the country for the U19 World Cup, happening from June 29 to July 7, and has the SBP excited for its potential to go places.

“This is the tallest team we have ever had and there is huge potential for the team to do well,” said SBP president Al Panlilio at the send-off for the team held early this week.

“The challenge is always if we could create that chemistry to perform well on the global stage. Competition will not be easy. But as long as we try our very best and we play with energy and with passion every game the result will be positive,” he added.

Sotto, who played high school basketball with Ateneo, returned to the country from the United States after a two-month training with top players and strength and conditioning coaches.

He has made his intention to work his way to the National Basketball Association by playing overseas.

Edu, meanwhile, also came back from the United Kingdom. He currently studies at the University of Toledo in the US.

Joining Sotto and Edu in the 14-man pool, coached by Sandy Arespacochaga, are Shaun Chiu, Carl Tamayo, Bismark Lina, Dave Ildefonso, Joshua Ramirez, Xyrus Torres, Gerry Abadiano, Rhyyan Amsali, Miguel Oczon, Dalph Panopio, Terrence Fortea and James Daniel Spencer.

Save for Edu and Panopio who play abroad, the rest of the team played or are still playing in the University Athletic Association of the Philippines and National Collegiate Athletic Association.

Mr. Panlilio said they are going through the U19 World Cup step-by-step, looking to take care of business in group play first before thinking of the deeper rounds.

“Hopefully we make it to the quarterfinals. The first three games will be crucial to make it to the next round. If we can win two games at least it will help our cause as it makes us avoid the top teams in the other group in the next round,” the SBP president said.

In the U19 World Cup, the Philippines will open its bid in Group C along with Argentina, host Greece and Russia.

In other groups are Senegal, the US, New Zealand and Lithuania (Group A); Mali, Australia, Canada and Latvia (Group B); and China, Puerto Rico, France and Serbia (Group D).

Tournament format calls for the 16 participating teams playing against all other teams in its own group — a total of three games for each team.

All teams qualify for the Round of 16, where they will cross between Groups A and B and C and D. The winners of the Round of 16 games advance to the quarterfinals, while the losers move on to the Classification Games for Places 9-16.