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169 tons of campaign trash collected; MMDA offers materials for repurposing

A TOTAL of 168.84 tons of campaign trash was collected by the Metropolitan Manila Development Authority (MMDA) following the just-concluded midterm elections, including those placed outside designated areas during the campaign period and those taken down after Monday’s vote. MMDA, in a statement on Wednesday, said it aims to complete the post-election clean-up operations this week. “We target to rid the major roads in the metro of campaign materials and spruce up public schools until this week so the public can prepare for the opening of classes next month early,” said MMDA Chairman Danilo D. Lim. The cities of Manila, Quezon, Parañaque and Makati produced the most number of campaign materials. The collected materials, currently stored under the flyovers in Santolan and Nagtahan, are on offer to recycling groups. “Various groups in need of candidates’ tarpaulins to recycle them into bags, place mats, school supplies and other useful items can coordinate with us,” said Francisco B. Martinez, head of MMDA’s Metro Parkway Clearing Group.

Peso rebounds vs dollar

THE PESO recovered against the dollar yesterday following the upbeat statement of US President Donald J. Trump on its trade negotiations with China that slightly boosted the risk appetite of investors.

The local unit ended Wednesday’s session at P52.35 against the greenback, 8.5 centavos stronger than the P52.435-per-dollar finish last Tuesday.

The peso opened the session at its intraday low of P52.43 against the dollar. Meanwhile, its best showing stood at P52.28 versus the greenback. Trading volume thinned slightly to $847.3 million from $881.1 million that changed hands the previous session.

A foreign exchange trader said the peso traded within range yesterday.

“Not much movers to be considered, but we saw peso stronger against the dollar on slight risk-on sentiment given that Trump said the deal has not collapsed with China,” the trader said in a phone interview.

On Tuesday, Mr. Trump said the trade negotiations between the US and China did not collapse, saying the two countries are merely having a “little squabble.”

“We’re having a little squabble with China because we’ve been treated very unfairly for many, many decades,” he told White House reporters.

Last week, Washington raised levies on $200 billion worth of Chinese goods to 25% from 10%. In retaliation, Beijing said it will increase tariffs on $60 billion worth of US goods by June 1.

Despite these actions, Mr. Trump still touted his relationship with his Chinese counterpart Xi Jinping as “extraordinary.”

Most other Asian currencies also enjoyed a welcome breather after Mr. Trump softened his tough trade rhetoric against China.

“The peso appreciated as market sentiment improved as President Trump noted that the trade discussions between the US and China will continue despite the recent mutual imposition of higher tariffs,” another trader said.

The first trader added that markets are anticipating the possible cut in banks’ reserve requirement ratio today at the Bangko Sentral ng Pilipinas’ Monetary Board’s weekly meeting.

For today, the first trader expects the local unit to move between P52.30 and P52.60, while the other trader gave a P52.20-P52.50 range. — Karl Angelo N. Vidal

20 new lanes to be constructed at SCTEX toll plazas

TWENTY NEW lanes are set to be added at the toll plazas of the Subic-Clark-Tarlac Expressway (SCTEX), operator NLEX Corp. announced on Wednesday. The expansion project, which is expected to be completed by Nov., involves one toll lane each at the Clark North entry/exit and Clark South B exit; two each at Clark South A exit and Tarlac entry/exit; conversion of the San Miguel (Luisita) plaza into a full interchange with two lanes each at the northbound entry and southbound exit and another toll lane will be added to the northbound exit; and the soon-to-open Bamban Interchange will have three entry and three exit lanes. “The additional toll lanes will help improve SCTEX’s connectivity in its areas, particularly in Clark, which is being positioned as Asia’s next aerotropolis and investment center,” said Luigi Bautista, president and general manager of NLEX Corp., a unit of Metro Pacific Tollways Corp. (MPTC). The Bamban Interchange will become the direct connection to New Clark City, the main venue for this year’s Southeast Asian Games. MPTC is the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

Stocks decline further as foreign selling persists

By Arra B. Francia, Senior Reporter

LOCAL EQUITIES dropped on Wednesday as foreign investors continued to exit the market.

The benchmark Philippine Stock Exchange index (PSEi) retreated 0.91% or 69.95 points to close at 7,576.71, settling in negative territory after steady gains in the early morning session. The all-shares index likewise slipped 0.59% or 28.37 points to end at 4,708.17.

“The index steadily dropped throughout the day after a strong start in the morning to end 69.95 points lower at 7,576.71 after even being sold down at the close. Today’s net foreign selling of P1.2B may have been the culprit,” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an e-mail on Wednesday.

Foreign net outflows persisted for an eighth straight session yesterday, albeit slightly lower at P1.16 billion from Tuesday’s P1.46 billion.

“With the PSEi firmly closing below its 200-day moving average support [on Wednesday] that it rebounded from [on Tuesday], support level to now look to if foreign selling persists in the coming days would be the area of December 2018’s low of 7,350,” Mr. Perez said.

On the other hand, Regina Capital Development Corp. Head of Sales Luis A. Limlingan blamed concerns over the trade war between the United States and China.

“The Philippine market continued to trade sluggishly as Sino-US trade news dominated headlines,” Mr. Limlingan said in a mobile phone message yesterday.

After China hiked its tariffs in retaliation to the US’ actions, US President Donald J. Trump tweeted that the Federal Reserve could “match” whatever Chinese officials were doing to offset the impact of the tariff increases on the economy.

Negotiations between the two parties, however, remain open, with a US delegation reported to be traveling to Beijing sometime soon for further talks.

Markets were up in the US overnight as investors went bargain hunting after the sharp losses seen in the previous week. The Dow Jones Industrial Average climbed 0.82% or 207.06 points to 25,532.05. The S&P 500 index jumped 0.8% or 22.54 points to 2,834.41, while the Nasdaq Composite rose 1.14% or 87.47 points to 7,734.50.

Back home, the services counter was the lone sub-index that ended with gains, up 1.6% or 25.61 points to end at 1,620.78 on Wednesday. The rest declined, led by property which fell 1.93% or 80.34 points to 4,076.47. Industrials plunged 1.35% or 155.41 points to 11,290.42; holding firms lost 0.86% or 61.94 points to 7,114.44; mining and oil slid 0.7% or 52.24 points to 7,359.85; while financials was down 0.28% or 4.87 points to 1,681.01.

Some 761.08 million issues valued at P7.23 billion switched hands, lower than the previous session’s P11.95-billion turnover.

Decliners slightly outpaced advancers, 98 to 92, while 52 names were unchanged.

5 undocumented OFWs blocked at Clark airport

THE BUREAU of Immigration (BI) stopped five undocumented overseas Filipino workers (OFWs) who attempted to leave the country as tourists at the Clark International Airport (CIA) in separate incidents last May 8. In a press release, BI Ports Operations Division Chief Grifton SP. Medina said the five women intercepted were bound for Malaysia and the United Arab Emirates (UAE). Three were hired as nightclub entertainers while two were domestic helpers. The BI said the three recruited to work in a pub said they received a job offer online and met with a man in Quezon City who paid them P10,000 for recruitment. The two others, meanwhile, presented fake visas to UAE and admitted they have been offered jobs in Beirut. “Obviously these women have been victimized by unscrupulous human trafficking syndicates that prey on the poor,” Mr. Medina said, “We must pursue cases against these illegal recruiters to protect our fellow Filipinos from exploitation in foreign lands.” The five women were turned over to the inter-Agency Council Against Trafficking for investigation and assistance. — Vann Marlo M. Villegas

Suspects in VCM burning arrested

THE TWO suspects behind the burning of vote counting machines (VCM) in Jones, Isabela on Tuesday have been identified and are now in police custody. They were identified as Jayson Leano, who was caught in pursuit operations at Barangay Diarao at 10:30 p.m. Tuesday, and Rodel Pascual, who surrendered to the barangay chairman of Sta. Isabel on Wednesday morning, the Police Regional Office II reported. Investigation is underway to determine the affiliation of both suspects and identify other persons involved in the incident. According to the Philippine National Police, both suspects were identified by witnesses as the persons responsible for the burning of the VCMs in Manayao Hill at 6:30 a.m. on Tuesday while the election equipment were being transported to a local canvassing center. — Vince Angelo C. Ferreras

Rep. Garcia says she aims to bring back ‘professionalism’ as she returns as Cebu governor

CEBU 3RD District Representative Gwendolyn F. Garcia is returning as provincial governor, a post she held for three terms from 2004-2013. Ms. Garcia beat incumbent Vice-Governor Agnes A. Magpale by more than 280,000 votes. Ms. Garcia has yet to be proclaimed as of Wednesday morning with 99.77% of election returns transmitted, but Ms. Magpale has already conceded. Cebu has more than 1.5 million voters. “We are going back into instilling pride in ourselves as Cebuanos and as government employees they will have to be examples of professionalism. That was what we had before,” the incoming governor said. Meanwhile, Ms. Magpale’s running mate, incumbent Gov. Hilario P. Davide III, won as vice-governor. He defeated Ms. Garcia’s party-mate Daphne Salimbangon. — The Freeman

Legarda proclaimed Antique House representative

OUTGOING SENATOR Loren B. Legarda is moving to the House of Representatives after she was proclaimed winner in the race for Antique’s lone district with 199,187 votes. She defeated four other candidates, with her closest rival, former Antique governor and representative Exequiel B. Javier, getting 69,716 votes. Mr. Javier’s son Paolo is the incumbent representative, who also lost his bid for the governor’s seat. Before the elections, Ms. Legarda faced two disqualification cases filed by her opponents, questioning her residency in the province. The cases were dismissed in February by the Commission on Elections. In a statement after her proclamation, Ms. Legarda, who served 18 years in the Senate, said, “We are determined to do more in Antique in the next three years than has been done in the last 30 years, and prove that every province has the potential to bring prosperity to its people.” The first-timer for a local position added, “I ran for Congress to bring my two decades of Senate work to the grassroots, and make Antique a role model for sustainable development for the rest of the country.”

Sandiganbayan grants plea bargain to former DAR-Caraga regional head

THE SANDIGANBAYAN approved the plea bargain of former Department of Agriculture (DAR) Caraga regional head Datu Yusoph B. Mama over the misappropriation of P184,904 in public funds for his personal use. In its May 7 decision, the Sandiganbayan 6th Division ordered Mr. Mama to pay a fine of P6,000 in exchange for pleading guilty to a lesses offense. The anti-graft court convicted him of failure to render accounts under Article 218 of the Revised Penal Code. He was originally charged for violation of Article 217 of the Revised Penal Code, or malversation of public funds, for failing to account for the total amount, which he received as cash advances from Aug. 28, 1997 to Feb. 18, 1999. The case originated from a liquidation report submitted by the Commission on Audit on September 30, 2011, in which Mr. Mama had yet to account for the funds, which he received and had full control of in his Butuan City office. — Vince Angelo C. Ferreras

Lessons from a 104-year-old voter in Iloilo

THE HOT weather and congested voting precincts did not stop the elderly of Iloilo from exercising their right and responsibility to vote in last Monday’s midterm polls. Among them was 104-year old Lucila S. Sobremisana, a mother of four and grandmother to 13 from New Lucena town, who defied the family’s suggestion that she skip casting her ballot. “My children keep on telling me that I should not vote but I still chose to vote, because it gives me happiness,” she said. She also expressed dismay over those who did not vote. “They do not understand the significance of choosing good leaders,” she said, adding that she chose leaders whom she believed will do good to their municipality. “I will not vote for leaders who are corrupt,” Ms. Sobremisana said. In Iloilo City, 83-year old Adelina P. Malaobe from Barangay Ortiz said she has never missed an election. “I keep on voting because I know politicians will help us in our livelihood,” she said in an interview. The two are part of the over 1.5 million total voters in Iloilo City and Iloilo province. — Emme Rose S. Santiagudo

Mayors in Mindanao’s 7 key cities headed for another term

INCUMBENT MAYORS of seven key cities in Mindanao’s six regions are headed for another term, based on either 100% or partial and unofficial results from the Commission on Elections. They are:

As of Wednesday morning, Ms. Carpio and Ms. Sayadi have been proclaimed. The other cities, except for Zamboanga and Cagayan de Oro, already have 100% of election returns transmitted. Mr. Moreno, however, has already posted a victory message on his official Facebook page. “Now the sovereign people of Cagayan de Oro City have spoken. Resoundingly and decisively. Regardless of our political colors or persuasions, we must all vow to, respect and abide by, the people’s mandate… We hope that Cagayan de Oro will emerge stronger and wiser from the division and polarization that the elections had caused,” Mr. Moreno said. In Zamboanga, with 96.2% of the election returns transmitted, Ms. Salazar has 140,362 votes against her closest rival, 1st District Rep. Celso L. Lobregat, with 107,621. The race between the two has been intense, with Ms. Salazar filing a libel case against Mr. Lobregat three days before the May 13 elections over comments involving rice supply.

Nation at a Glance — (05/16/19)

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

Nation at a Glance — (05/16/19)

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