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Oil prices up again this week

Oil prices drop this weekOIL FIRMS will again raise the prices of gasoline, diesel and kerosene this week, the third time fuel rates will move up this month. Gasoline prices will increase by P0.40 per liter (/L), and diesel and kerosene both by P0.65/L. The new prices will take effect at 6 a.m. on Tuesday, April 24. — Denise A. Valdez

New zonal values take effect in BIR-25B Bulacan areas

A REVISED schedule of zonal values will now be implemented for properties in areas covered by the Bureau of Internal Revenue’s District Office-25B (RDO-25B) based in Sta. Maria, Bulacan. Department of Finance Order No. 014-2018, dated Feb. 15, 2018 and published on April 23, contains a new list of per-square meter rates for residential, commercial, agricultural, and general purpose lots as well as condominiums. The rates, which “take effect immediately,” will be used for computing internal revenue taxes on sale, transfer or any disposition transaction.
Towns and cities under RDO-25B:
• Doña Remedios Trinidad • Marilao
• Meycauayan • Norzagaray
• Obando • San Ildefonso
• San Miguel • San Rafael
• Santa Maria • Angat
• San Jose Del Monte City

Whose backhoe is that?

A CHARITY organization led by Teresita Ang See has urged the government to keep the statue of a comfort woman along Roxas Boulevard, Manila following the appearance of a backhoe beside the figure, purportedly with orders to remove it. “Good relations with Japan should not come at the expense of forgetting history and disregarding those who have suffered under Japanese occupation,” Ms. See, founder of the Kaisa Para sa Kaunlaran, said in a statement on Monday. She stressed that the statue is not meant to insult the Japanese, but rather “to remember the women who suffered and pay tribute to their courage and resilience.” The Manila City government and the National Historical Commission of the Philippines have both denied ordering the removal of the statue, according to Ms. See. She has sought the assistance of the Manila Police District as she verifies who made the directive. — Minde Nyl R. dela Cruz

Police seize P5M worth of meth in Muntinlupa condominium

THE ANTI-DRUG unit of the Philippine National Police (PNP) seized suspected crystal meth (shabu) worth P5 million in a condominium unit in Muntinlupa City on Monday morning. PNP Drug Enforcement Group (PDEG) chief Superintendent Albert Ignatius D. Ferro said this is a result of a follow-up surveillance and intelligence operation after a Chinese national was arrested in Makati City in March. “We were able to trace his supposedly safe house… and we were able to seize several suspected shabu amounting to P5 million,” Mr. Ferro said in a press briefing. — Minde Nyl R. dela Cruz

Garcia gets appointment as MMDA general manager

JOSE ARTURO S. Garcia, Jr., who was designated officer-in-charge general manager of the Metropolitan Manila Development Authority (MMDA) in Feb., has been formally appointed to the position. The Palace announced on Monday, April 23, Mr. Garcia’s appointment, which was signed by President Rodrigo R. Duterte on April 18. Mr. Garcia replaced Thomas M. Orbos, who now serves as Transportation undersecretary. — Arjay L. Balinbin

Iloilo rice retailers accuse NFA of ‘unfair distribution’

A GROUP of rice retailers in San Miguel, Iloilo has accused the National Food Authority’s (NFA) provincial office of unfair distribution by favoring certain certified sellers. In a complaint letter dated April 19, addressed to NFA-Western Visayas Regional Director Angel G. Imperial Jr., members of the Alyansa ng Industriya ng Bigas (ANIB) complained that the NFA-Iloilo provincial office allegedly allocated more sacks of rice to another association. ANIB President Ronilo Samulde narrated that on the morning of April 18, four of their retailers requested to purchase government rice but only one was granted 20 sacks. But in the afternoon of the same day, three retailers from another association were allegedly able to each purchase 50 bags. Mr. Samulde said they have documentary evidence proving their accusations. ANIB wants the NFA regional office to intervene in the issue. “We want fair and transparent treatment as stakeholders as we consider ourselves as partners in the grains industry,” Mr. Samulde said. NFA-Iloilo provincial head Oliver L. Cambas could not be immediately reached for comment. — Louine Hope U. Conserva

Stalled Cebu Pacific aircraft causes temporary closure of Zamboanga airport

A CEBU Pacific aircraft, with flight scheduled to depart Manila at 3:55 a.m. bound for Zamboanga City on Monday, suffered a “steering fault” after landing and was stuck at the Zamboanga International Airport (ZIA) for several hours. The stalled Airbus A320 aircraft forced the temporary closure of ZIA until it was moved out of the runway at around 8:35 a.m. In a statement, Zamboanga Mayor Maria Isabelle “Beng” Climaco-Salazar, who went to the site before the incident was resolved, told Cebu Pacific “to station a tow bar in Zamboanga for immediate response to such situations.” Cebu Pacific, in a media statement, said the 180 passengers and crew on board were safely deplaned and apologized “for the inconvenience.” Affected by the airport closure were another Cebu Pacific Manila-Zamboanga flight and two Zamboanga flights to Tawi-Tawi, and a Philippine Airlines flight from Zamboanga to Manila. — Mindanao Bureau

CARD MRI pilots Shari’ah-inspired microfinancing in 2 ARMM areas

THE MICROFINANCE arm of the Center for Agriculture and Rural Development–Mutually Reinforcing Institutions (CARD MRI) has piloted a Shari’ah-inspired program in two areas of the Autonomous Region in Muslim Mindanao (ARMM). Dr. Jaime Aristotle B. Alip, CARD MRI chair and founder, said the project dubbed as Paglambo was finalized in Feb. and recently rolled out with an initial 56 families from Marawi City, Lanao del Sur and Shariff Aguak, Maguindanao. “After the intensive research period and the international study exposure and workshops we have participated in, CARD MRI has decided to start pilot-testing the project as part of its commitment of building a financially inclusive country,” Mr. Alip said in a statement released Monday. The project study involved discussions with the Peace and Equity Foundation, Ramon Magsaysay Award Foundation, and Dompet Dhuafa Republika. CARD MRI said the project follows the Murabahah standards, which is based on the cost plus margin sale agreement, wherein the clients are provided with cash to buy goods for their businesses with a marked-up price or margin. An Islamic life insurance policy, or Panangga, is also covered in the agreement. CARD MRI Managing Director Flordeliza L. Sarmiento said, “We will continue to help and build a financially inclusive Philippines, that is, regardless of your social standing, gender, beliefs, and religion.” — Carmelito Q. Francisco

GSIS chief maintains unpaid rent by hotel

CORRECTING his previous figures, Government Service Insurance System (GSIS) President and General Manager Jesus Clint O. Aranas on Monday said Sofitel Philippine Plaza owed the government agency about P101 million in unpaid rent for occupying two government lands not covered by the lease contract.
“Based on our computation, they owe us P101,574,406.46 from 1993 to 2016…for 7,393 square meters. It’s almost a hectare of prime property,” he said in a press briefing at the GSIS headquarters in Pasay City.
“Do you know the value of this lot is almost P800 million? And to be able to utilize this lot for free is grossly disadvantageous to the fund, to the contributors and it sends a bad message to the people that this government tolerates such things,” he added.
Mr. Aranas earlier said in a radio interview that Sofitel Philippine Plaza has not paid rent worth P80 million for two parcels of land called Lot 19 and Lot 41, which are adjacent to the hotel.
In a statement issued over the weekend, hotel operator Philippine Plaza Holdings Inc. (PPHI) maintained that it has “religiously complied” with its contractual obligations to GSIS, saying that Mr. Aranas was “probably misinformed.”
GSIS said it has issued a notice to vacate last April 13 to PPHI regarding the two lots owned by the government agency.
Mr. Aranas pointed out that GSIS’ existing lease contract with the PPHI only covered Lots 30-A and 30-B, where Sofitel Philippine Plaza is located. Meanwhile, Lots 19 and 41 were excluded in the contract but the luxury hotel continued to use the area as a tennis court, employees’ eatery, and a site for a Japanese restaurant, among others.
He added that he has already asked officials of Sofitel management to pay the unpaid rentals as early as January during their courtesy call with him.
Without mentioning names, Mr. Aranas further said GSIS would also go after 59 other big-ticket properties which he said have also underpaid or unpaid rentals to the government agency.
“We will start with Sofitel first. And this is not the end of this….I prioritize big ticket items because they’re commercially run (and have) a capacity to pay,” he said.
Asked about his plans to pursue accountability within the agency for allowing unpaid or underpaid rentals, Mr. Aranas said his first priority was on rental collection instead of investigating previous GSIS officials, noting that previous general managers had attempted to collect rent.
“I think collection is first and topmost priority list. Then I will make an investigation,” he said.
Sought for comment, Sofitel referred to its statement over the weekend, adding that as “per (its) legal counsel, nothing new was raised today.” — Camille A. Aguinaldo

Nation at a Glance — (04/24/18)

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

Threat of nuclear weapons use growing, UN warns

Geneva — A top UN official on Monday denounced growing rhetoric claiming that nuclear arms are necessary and warned that the risk of such weapons being used was on the rise.
“The threat of the use, intentional or otherwise, of nuclear weapons is growing,” the UN’s representative for disarmament affairs, Izumi Nakamitsu, told a preliminary review meeting of the Nuclear Non-Proliferation Treaty (NPT).
The United States, which holds one of the world’s largest nuclear arsenals, also warned the conference that the prospects for progress on disarmament was currently “bleak”.
The NPT, introduced at the height of the Cold War a half century ago, seeks to prevent the spread of atomic weapons while putting the onus on nuclear states to reduce their stockpiles.
Speaking at the opening of the Geneva meeting, Nakamitsu warned that “the world today faces similar challenges to the context that gave birth to the NPT.”
The NPT treaty, which counts 191 state parties, faces a comprehensive review every five years, with preparatory committees each year in between.
The next full review of the treaty is scheduled for 2020.
The year’s meeting comes after North Korea, which pulled out of the treaty 15 years ago, declared a moratorium on nuclear and long-range missile tests and said it would dismantle its nuclear test site.
Nakamitsu hailed the announcement, voicing hope that the move “will contribute to building trust and to sustaining an atmosphere for sincere dialogue and negotiations.”
‘Keep pressure’ on Pyongyang
Other speakers at the opening of the Geneva meeting, including the European Union representative, stressed the need to “keep pressure” on North Korea.
And Christopher Ford, US Assistant Secretary for International Security and Nonproliferation, insisted that Pyongyang had “yet to return to compliance” of the NPT.
North Korea’s nuclear programme was one reason why “the nonproliferation regime today faces great threats,” he said, also pointing to Iran’s nuclear programme.
Ford said the NPT treaty had made great strides over the past half century to avoid proliferation and ward off the use of nuclear weapons, but warned that “deteriorating security conditions have made near-term prospects for further progress on disarmament bleak.”
Nakamitsu also cautioned that the overall “geopolitical environment is deteriorating.”
“Some of the most important instruments and agreements that comprise our collective security framework are being eroded,” she said.
“Rhetoric about the necessity and utility of nuclear weapons is on the rise,” she said, stressing that “modernisation programmes by nuclear-weapons states are leading to what many see as a new, qualitative arms race.”
Nakamitsu noted that until recently all the major powers have been engaged in “continuous and successive negotiations on arms control and disarmament.”
“Yet not only have we seen an unfortunate hiatus in these efforts, there are real concerns that unless we reverse this trend we will soon be back in a situation for the first time in which there are no verified constraints on nuclear arsenals,” she said.
Five of the world’s nine nuclear-armed states — Britain, China, France, Russia, and the United States — are parties to the NPT.
India and Pakistan, as well as Israel, which has never acknowledged it has nuclear weapons, have never signed the treaty.
But despite their treaty obligations, observers say that all nuclear-armed NPT members are engaged in modernising their arsenals and making nuclear weapons a more central part of their defence strategies.
President Donald Trump’s administration has for instance recently decided to upgrade the US nuclear weapons arsenal and to complement massive “strategic” bombs with smaller “tactical” weapons, in a move critics say would make them easier to use. — AFP

Oil drops with other commodities as US softens Rusal stance

Oil fell along with other commodities after the U.S. Treasury softened its stance on sanctions that crippled a giant Russian aluminum producer and disrupted the global market for the metal.
Futures in New York dropped 1.5 percent. The U.S. said it will provide sanctions relief to United Co. Rusal if Oleg Deripaska relinquishes control, while also extending the deadline for companies to wind down dealings with the company. While the restrictions on Rusal didn’t directly affect oil, crude traders are closely watching President Donald Trump’s attitude to punitive trade measures as he considers whether to renew sanctions waivers on OPEC member Iran next month.
“It softens the potential geopolitical risk premium that has built up in recent weeks,” said Ole Sloth Hansen, an analyst at Saxo Bank A/S in Copenhagen. “If the U.S. can soften its stance on Russia, I suppose they could do it on Iran as well.”
Crude rallied this month to levels not seen since 2014 as geopolitical tensions ramp up in the energy-rich Middle East, and between the U.S. and Russia. On Friday, Trump on Friday slammed the Organization of Petroleum Exporting Countries, accusing it off artificially boosting prices. While the group and its allies wiped out 97 percent of the targeted surplus that has weighed on prices for three years, their production cuts continue.
West Texas Intermediate crude for June delivery fell 1.5 percent to $67.37 a barrel on New York Mercantile Exchange at 8:34 a.m. local time. The May contract added 0.1 percent to $68.38 on Friday. Total volume traded was about 15 percent above the 100-day average.
Brent crude for June delivery dropped 74 cents to $73.32 a barrel on the London-based ICE Futures Europe exchange. Prices climbed 2 percent last week to settle at $74.06. The global benchmark crude traded at a $5.89 premium to June WTI.
Yuan-denominated futures for September delivery added 0.8 percent to 436.3 yuan a barrel on the Shanghai International Energy Exchange, after climbing 2.3 percent last week. — Bloomberg