Facebook Instagram Linkedin X Youtube
Home Blog Page 11866

PHL, US, Japan kick off drills at Subic Bay

By Vince Angelo C. Ferreras
NAVAL and marine troops from the Philippines, the United States, and Japan had started a joint military exercises on Monday, Oct. 1, at Subic Bay.
Troops from these countries will participate in the drills dubbed as “Kaagapay ng mga Mandirigma ng Dagat” or “Cooperation of Warriors of the Sea” (KAMANDAG) which will run until Oct. 10.
The military exercises aim to enhance cooperation and interoperability between the Philippines, the US, and Japan.
Now on its second year, the drills will focus on counterterrorism, live fire training, jungle survival training, and combat lifesaving, as well as humanitarian assistance and disaster relief.
“In its first iteration last year, KAMANDAG gave rise to many inaugural advancements between our militaries,” said Brig. Gen. Chris A. McPhillips, 3d US Marine Expeditionary Brigade Commanding General.
He added, “I’m looking forward to all that we’re going to achieve together this year.”
The US and Philippine troops will also be involved in community projects in Ternate, Cavite, such as construction projects for some schools. Military medical teams are also expected to give lessons on lifesaving skills and dental hygiene.
Last week, the Armed Forces of the Philippines and the US Indo-Pacific Command signed an agreement during the 2018 Mutual Defense Board and Security Engagement Board meeting that aims to strengthen the defense and security cooperation between the two countries.

Military says more NPA members laying down arms

THE ARMED Forces of the Philippines (AFP) claims it is winning the battle against the communist movement as more members of the New People’s Army (NPA) have been voluntarily surrendering.
“Nakikita natin na nawalan na ng suporta galing sa masa ang mga rebeldeng grupo na ito kaya sila ay tuluyan nang nagbalik loob sa gobyerno (We see that the rebel groups are losing support, they are returning to the government’s fold),” AFP Chief of Staff General Carlito G. Galvez Jr. said in a statement.
He cited that last Sept. 26, 16 members of NPA, the armed wing of the Communist Party of the Philippines, surrendered to the AFP’s 53rd Infantry Battalion in Zamboanga del Sur.
Among them were four women and two child warriors.
On Sunday, three members of the NPA’s Southern Mindanao Regional Command surrendered to the local government officials in Davao del Norte.
Mr. Galvez said some of those who surrendered were group leaders, who admitted that they are already tired fighting for their cause.
The former rebels were provided livelihood and cash benefits under the Enhanced Comprehensive Local Integration Program of the government.
“It is not too late for you (NPAs) to surrender and leave your current miseries from fighting a useless cause.” Mr. Galvez said.
Last month, AFP proposed to President Rodrigo R. Duterte the creation of a multi-agency national task force that will address the five-decade communist insurgency in the country. — Vince Angelo C. Ferreras

Palace hints on political motive behind Sudipen mayor’s murder


MALACAÑANG ON Tuesday promised a quick resolution on the killing of Sudipen, La Union Mayor Alexander O. Buquing, which Presidential Spokesperson Harry L. Roque, Jr. said could be politically motivated with election season just around the corner.
“We condemn it and we commit to conduct a fast investigation to uncover the individuals behind this latest attack,” Mr. Roque said in a press briefing at the Palace.
“You know, it’s political season,” he said in Filipino, qualifying that such a period does not in any way justify the crime.
The mid-term elections is set May 2019, with the filing of certificates of candidacies scheduled to start next week, Oct. 11, to the 18th.
He added, “So ang katotohanan niyan, ang solusyon diyan is dapat maparusahan lahat ng mga pumapatay para maibalik ang takot sa puso at sa isipan ng mga pumapatay sa lipunan (The truth is, the solution is that all culprits should be punished so that we can bring back fear in the hearts and minds of of those who kill).”
Meanwhile, opposition Senator Paolo Benigno A. Aquino IV, in a statement, said the killing of high-ranking local government officials puts into question the government’s capability to protect ordinary citizens.
“Ngayong pati sa city hall mismo pinapatay ang matataas na opisyal ng gobyerno, mahalagang malaman natin kung kaya pa ba ng pamahalaan na protektahan ang mga ordinaryong Pilipino.”
Mr. Aquino has filed Senate Resolution No. 901, calling on the committee on public order and dangerous drugs to look into the killings of local officials “that have caused grave concern, fear, insecurity, and distress in the general populace.”
Mr. Aquino noted similar recent crimes such as the July 2, 2018 murder of Mayor Antonio Halili of Tanauan City, Batangas during a regular flag-raising ceremony; Mayor Ferdinand Bote of General Tinio, Nueva Ecija, who was killed in an ambush in Cabanatuan City on July 3; Vice Mayor Alexander Lubigan of Trece Martires, Cavite on July 7; Vice Mayor Al-Rashid Mohammad Ali of Sapa-Sapa, Tawi-Tawi on July 11; Ronda, Cebu Mayor Mariano Blanco III, who was shot dead inside his own office on Sept. 5; and Carmencita Navarro on Sept. 15, who was expected to run as Bislig City mayor, a position currently held by her husband, Mayor Librado Navarro. — Arjay L. Balinbin

8 arrested over illegal land conversion in Lapu-Lapu City

THE ENVIRONMENTAL Crime Division (EnCD) of the National Bureau of Investigation (NBI) recently arrested eight suspects for illegal land conversion in Barangay Babag, Lapu-Lapu City, Cebu. In a statement yesterday, NBI said the suspects were involved in the conversion of 23 hectares of forest and wet lands covered with mangrove forest into the Pueblo De Oro Cebu Subdivision, owned by Pueblo De Oro Corporation. They were identified as head Engineer Benjamin Roleda, Engr. Charlie Sumalpong, and drivers of the heavy equipment. “Subjects were caught in flagrante conducting earth moving operations and dumping materials in the forest land pursuant to its plan of converting the forest land to residential lots,” NBI said. EnCD Chief Czar Eric M. Nuqui said the forest land is a “no build zone.” The operation was undertaken with the assistance of the Department of Environment and Natural Resources-Cebu and the NBI-Central Visayas Regional Office. Investigation is still ongoing, particularly on the process of how the original certificate of title and transfer certificate of title over the land were acquired, Mr. Nuqui said. Those arrested, meanwhile, have already been presented for inquest proceedings. — Vann Marlo M. Villegas

Cebu City to test US firm Leotek’s traffic management system

THE CEBU City government will have a trial run of the road traffic system of Leotek Electronics USA LLC to see if it will help address the long-standing congestion problem. Councilor Jerry L. Guardo, chairman of the committee on environment, energy, transportation, communication and other utilities, told reporters that they know of Leotek after their recent official visit in Taiwan, where the company has installed cameras in intersections. “We are finding ways how we can adopt the system here in Cebu that we can implement non-contact apprehension of violators… It can also help us in security,” Mr. Guardo said. Leotek personnel will be in Cebu City this month for the test run which will be piloted at the intersection in front of a shopping center along Osmeña Boulevard. After the trial period, the city government will evaluate the efficiency of the new system and decide later on whether or not to adopt the scheme. — The Freeman

Iloilo Rep Treñas to file charges over P16.5-M walkway project under Green, Green, Green program

REPRESENTATIVE JERRY P. Treñas of the lone district of Iloilo City plans to file charges against those involved in the proposed P16.5-million walkway project of the city government that will link Sunburst Park with Plaza Libertad. “How can you use the fund which is specific to parks and plazas for a walkway? That is technical malversation,” Mr. Treñas said in a phone interview. The project is dubbed the Development of Park in the City Civic Center, with funding from the Department of Budget and Management’s Green, Green, Green program. Architect Dolly Anne M. Zoluaga, assistant department head of the City Planning and Development Office, explained that the project, conceptualized back in 2014, involves the creation of a “safe walking corridor” or “walkway” between Sunburst Park and Plaza Libertad, which are in the city’s downtown area. “Because if you have noticed, there is no sidewalk at Muelle Loney area and JM Basa. So we see to it that the people can safely pass by,” she said. Ms. Zoluaga also clarified that the structure will not affect the congressman’s building, located at Macario Peralta Street. Mayor Jose S. Espinosa III said the city would provide legal defense to Ms. Zoluaga and others who may be sued by Mr. Treñas. — Louine Hope U. Conserva

Maute group sub-leader killed

WesMinCom logoA SUB-LEADER of remnants of the Maute group, which led the siege in Marawi City last year, was killed on Sunday in Upper Dimayon, Tagoloan Lanao del Norte, the Western Mindanao Command (WesMinCom) reported in a statement late afternoon Monday. Col. Leonardo I. Peña, chief of the WesMinCom’s unified command staff, said soldiers of the Joint Task Force ZamPeLan (Zamboanga Peninsula Region and Lanao provinces), with members of the Tagoloan police and the National Bureau of Investigation, encountered at least 100 Daulah Islamiyah-Maute remnants under Dianalan Dimnatang Imam, also known as (a.k.a.) Papayungan, and Hadji Rasul Mambuay a.k.a Mercury. “While conducting clearing operation, a team from the 4th Mechanized Battalion was fired upon in Upper Dimayon, firefight ensued which resulted to the neutralization of Mercury,” he said. Mercury, identified as the sub-leader of the group based in Pagayawan, Lanao del Sur, is listed “number 541 in the Martial Law Instruction Number 1 dated September 4, 2017 and has a standing warrant of arrest for Arson.” — Albert F. Arcilla

ARMM documents for turnover to new Bangsamoro 90% complete

DOCUMENTS THAT the Autonomous Region in Muslim Mindanao (ARMM) government will turn over to the new political entity under the Bangsamoro Organic Law (BOL) are now “90% to 95%” ready. ARMM Executive Secretary Laisa M. Alamia, in a statement, said the documents will be submitted to the coordination team for transition to the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) as well as the Senate and the House of Representatives. “These documents are very important for the BARMM, so when they come in, all of these documents will be there. They will be able to study it… and that would mean that BARMM will not start from zero,” Ms. Alamia said. Technical staff from the ARMM’s different line agencies participated in a documents validation workshop last week to finalize the papers. The plebiscite on the BOL is scheduled on Jan. 21, 2019.

Stocks slump as oil prices stoke inflation concerns

By Arra B. Francia, Reporter
LOCAL EQUITIES tumbled on Tuesday as the rise of global oil prices heightened inflation fears alongside the continued sell-off by foreign investors.
The 30-company Philippine Stock Exchange index dropped 1.24% or 89.72 points to close at 7,132.36 yesterday, falling for the third consecutive session. The main index plunged to as low as 7,093.92 for the day before paring losses in time for closing bell.
The broader all-shares index also gave up 0.97% or 43.29 points to finish at 4,398.80.
“Crude oil price continues to be on the bullish uptrend now at more than $75 per barrel while net foreign selling persists weakening the peso. Both are inflationary in nature thus will further push prices upward,” Diversified Securities, Inc. trader Aniceto K. Pangan said via text on Tuesday.
Oil prices jumped to their highest in nearly four years overnight, as markets project tighter supply once the United States’ sanctions against Iran take effect next month.
“This has made the investors jittery resulting in the market selling,” Mr. Pangan added.
Meanwhile, Papa Securities Corp. trader Gabriel Jose F. Perez noted that index heavyweight SM Prime Holdings, Inc. contributed to the market’s loss, as it was sold down by 5%. The Sy-led firm recorded the highest foreign outflow for the day at P292.7 million.
Foreign investors ended at a net selling position for the 24th straight day with net outflows worth P397.38 million, lower than Monday’s P677.5 million.
In contrast, markets in the United States climbed after Washington and the Canadian government inked a deal to replace the North American Free Trade Agreement. US President Donald J. Trump called the deal “truly historic.”
With this, the Dow Jones Industrial Average rose 0.73% or 192.90 points to 26,651.21, while the S&P 500 index added 0.36% or 10.61 points to 2,924.59. The Nasdaq Composite index however dipped 0.11% or 9.05 points to 8,037.30.
Asian indices mostly fell on Tuesday following cautious view on the global economy.
Back home, sectoral indices suffered another bloodbath, led by the property sector with a decline of 3.65% or 132.28 points to 3,484.28. Mining and oil shed 2.49% or 221.20 points to 8,632.92; financials slipped 0.71% or 11.57 points to 1,609.11; holding firms went down 0.63% or 45.14 points to 7,015.43; industrials gave up 0.41% or 43.50 points to 10,431.80; while services dipped 0.11% or 1.74 points to 1,500.48.
Decliners outpaced advancers, 112 to 72, while 56 issues ended flat.
Some 921.4 million issues valued at P5.70 billion switched hands, rising from the previous session’s P4.23-billion turnover.
“We might however continue to see more of the lackluster volume in the next few days as the market awaits Friday’s inflation data release,” Papa Securities’ Mr. Perez said in an e-mail.

Peso weakens as investors price in inflation bets

A TELLER counts $100 bills at a money changing establishment. — PHILSTAR/KRIZJOHN ROSALES

THE PESO weakened further against the dollar on Tuesday as investors continued to price in a likely faster September inflation print.
The local unit ended Tuesday’s session at P54.25 versus the greenback, 14 centavos weaker than the P54.11-per-dollar finish on Monday.
The peso traded weaker the whole day, opening the session at P54.18 against the dollar, which was its best showing for the day. Its intraday low stood at P54.29 versus the US currency.
Dollars traded rose to $655.4 million from the $385.7 million that switched hands the previous day.
Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, said downward pressure is expected for the peso this week until the release of September inflation number.
“The market, I think, is slowly pricing the expectations in,” Mr. Asuncion said in a text message.
The market expects a faster inflation print last month from August’s 6.4%. A BusinessWorld poll of 13 economists yielded a 6.8% median forecast for headline inflation last month, matching the estimate given by the Bangko Sentral ng Pilipinas’ Department of Economic Research.
“The peso depreciated amid lingering expectations of stronger local inflation reading for September…which increased safe-haven demand for the dollar,” a trader said in an e-mail.
Meanwhile, another trader said the peso weakened due to corporate demand.
“We saw some corporate demand as it was the reason why the peso was pushed to around P54.29,” she said in a phone interview, noting that the level of resistance around P54.30-P54.35 still remained.
For Wednesday, Mr. Asuncion expects the peso to move between P54.20 and P54.50 versus the dollar, while the second trader gave a P54.10-P54.30 forecast.
PESO RECOVERY SEEN
Meanwhile, Sun Life of Canada (Philippines), Inc. expects the local unit to end the year stronger at P53.80 on the back of dollar inflows.
Michael Gerard D. Enriquez, Sun Life Financial chief investments officer, said San Miguel Food & Beverage, Inc. is expected to enter the local bourse in November to raise $150 million.
“Half of that will be sold to investors, so we would expect inflow of dollars to come in by next month,” Mr. Enriquez said.
The capital inflow, he added, will be coupled with the surge in remittances from overseas Filipinos in time for the holiday season.
“The seasonality where [overseas Filipino worker] remittances will be heightened. Towards the last two months of the year. So we would expect the peso to strengthen from where it is at the moment because of these things.” — Karl Angelo N. Vidal

Nation at a Glance — (10/03/18)

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

EAC Generals win two in a row, send Chiefs packing

By Michael Angelo S. Murillo
Senior Reporter
THE Emilio Aguinaldo College Generals notched their second back-to-back wins in Season 94 of the National Collegiate Athletic Association after beating the Arellano Chiefs, 78-70, on Tuesday at the FilOil Flying V Centre that also ended the playoff hopes of the latter.
While already eliminated from the playoff race, EAC (4-11) showed much competitiveness, using a strong start against Arellano (4-10) and hanging tough in the end to win two in a row while also pulling down the Chiefs from the Final Four race.
The Generals went for an early pullaway led by Jerome Garcia and JP Maguliano, outscoring the Chiefs, 11-2, in the first three and a half minutes of the opening quarter.
Arellano’s backcourt of Levi Dela Cruz and Ian Alban tried to rally the Chiefs only to have limited success as they went trailing, 21-11, after the first 10 minutes of the contest.
EAC picked up where it left off in the first canto to start the second frame, led anew by the hot-shooting Garcia.
The Generals fired from all cylinders as they continued to hold the Chiefs at bay and extended their lead to 18 points, 48-30, by the halftime break.
In the third period, Arellano came out with more aggressiveness on both ends of the court, going on a 9-6 run to cut into the lead of EAC, 54-39, midway into the quarter.
Michael Canete and Archie Concepcion towed the Chiefs even closer to 12 points, 58-46, with less than two minutes to go.
The Generals eventually survived the Arellano charge back to carry a 13-point cushion, 63-50, heading into the payoff quarter.
Undeterred by the constant fending-off by EAC, the Chiefs continued to claw their way back to begin the final canto.
Dela Cruz and Canete thrust their team to within five points, 64-59, with 4:34 left on the clock.
Two free throws by EAC big man Hamadou Laminou stopped the bleeding for the Generals only to be answered by a drive from Alban with 3:37 to go to keep Arellano within striking distance, 66-61.
Laminou though would use his height advantage over his defenders to power his team to a 72-63 lead with two minutes remaining.
The Chiefs made a last-ditch effort to salvage the victory to come within six points, 76-70, with 27 seconds left but that was the closest they would get as they slumped to the defeat and kissed their playoff hopes goodbye.
Garcia led EAC with 25 points to go along with six rebounds and six assists followed by Maguliano with 15 points and 10 boards.
Laminou finished with 14 points, seven rebounds and three blocks for the Generals, who defeated the College of St. Benilde Blazers in their previous game.
Dela Cruz, meanwhile, paced the Chiefs with 15 points while Alban added 14.
Guilmer Dela Torre had 12 and Concepcion 10 for Arellano, which needed to win to say in the playoff hunt.
“We sort of collapsed in the fourth period as we became complacent with the big lead. But we told each other not to panic and thankfully we hang on for the win,” said Garcia, named player of the game, after their victory.
EAC next plays on Oct. 5 against the Mapua Cardinals while Arellano faces off with the Jose Rizal University Heavy Bombers on the same day.

1...11,86511,86611,867...14,215Page 11,866 of 14,215
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube