Peso weakens versus dollar

September 17, 2018 | 9:00 pm

THE PESO weakened against the dollar on Monday as it slipped back to the P54 level due to the continued trade spat between the United States and China and amid stronger-than-expected remittance growth.
The local unit ended Monday’s session at P54.11 versus the greenback, 14 centavos weaker than the P53.97-per-dollar finish last week.
The peso traded weaker the whole day, opening the session at P54.10 against the US currency. It declined to as low as P54.28, while its best showing stood at P53.10 versus the dollar.
Trading volume grew to $807.2 million from the $660.15 million that exchanged hands on Friday.
A foreign exchange trader said the peso-dollar pair saw volatile trading yesterday.
“We saw the peso went [weaker] at P54.28 due to corporate demand. Near the close, we saw some reversal as intervening banks put it [stronger],” the trader said in a phone interview on Monday.
The trader added the peso traded weaker even after the release of data showing remittance growth strengthened year on year.
Money sent home by Filipinos abroad reached $2.401 billion in July, up 5.2% from the $2.283 billion received a year ago.
“The peso is still showing resilience as July remittances showing recovery,” UnionBank of the Philippines chief economist Ruben Carlo O. Asuncion said in a text message.
However, he noted the intraday low of P54.28 may signify the continued investor concerns over the trade spat between the United States and China.
US President Donald J. Trump is expected to announce another round of tariffs on about $200 billion on Chinese goods as early as Monday.
Mr. Trump has already directed his aides to proceed with the levies despite the attempts of Treasury Secretary Steven Mnuchin to restart trade talks with China.
For Tuesday, the trader said the peso will move between P54.05 and P54.20, while Mr. Asuncion gave a P53.90-P54.20 range.
“The local currency might strengthen tomorrow on profit-taking after today’s intraday record low amid lack of economic data movers,” another trader said in an e-mail, giving a forecast range of P54-P54.20. — Karl Angelo N. Vidal

Fox files motion on denied visa extension

September 17, 2018 | 8:57 pm

LAWYERS OF Australian missionary Patricia Fox on Monday filed a motion for reconsideration before the Bureau of Immigration (BI) after it denied the extension of her missionary visa.
In a statement, Ms. Fox’s lawyers said the bureau’s deportation order is not yet “final and executory” as a petition for review is still pending at the Department of Justice.
“Hence, the decision to grant or deny the application for extension or renewal of her missionary visa should not be based and hinge(d) on the order of deportation. And even Justice Secretary Menardo Guevarra said that the decision of the BI whether to extend her missionary visa will be ‘without prejudice to the resolution of her appeal,’” the statement said.
Ms. Fox filed a petition for review at the DOJ on Sept. 3 over the deportation order against her. She asked the BI to reverse its order which denied her visa extension and grant the application for renewal or extension visa subject to the result of the petition for review filed before the Department of Justice.
The BI also stated that Ms. Fox, who has been in the Philippines for 27 years, stayed beyond the ten years allowed in a memorandum of agreement between the bureau and the Catholic Bishops’ Conference of the Philippines.
But according to Ms. Fox’s lawyers, the agreement “did not preclude the extension or renewal thereof for another ten (10) years.”
As argued in her motion: “As a matter of fact, her missionary visa had been repeatedly extended by the Honorable Office for several times, first, during the first ten-year period from 1990, the year she arrived in the country, then in the year 2000 or thereafter, for the second ten-year period, and later in 2014 for the third ten-year period.”
The motion said further that with the granting of Ms. Fox’s missionary visa on Sept. 5, 2014, it remained valid until 2024, if still up for renewal every two or three years.
“Moreover, contrary to the supposition of the Honorable Office, the allowable time for the applicant to stay in the country has technically not yet expired because she was given another ten (10) years from 2014 to 2024 to render missionary work in the country,” the motion said. — Vann Marlo M. Villegas

Gasoline prices up for 6th week

September 17, 2018 | 8:56 pm

GASOLINE PRICES will increase by P0.50 per liter (/L) this week, oil companies said, marking the sixth straight week that the cost of the petroleum product has risen. Diesel prices will also increase, by P0.15/L, while kerosene will rise by P0.20/L. All the companies that sent their advisories as of late afternoon on Monday said they would hike pump prices at 6:00 a.m. today. In the last six weeks, diesel and kerosene have risen five times, broken only by a week of respite when prices stayed unchanged. — Victor V. Saulon

Amid bombings, what’s the point of martial law? asks Senator Pangilinan

September 17, 2018 | 8:55 pm

By Camille A. Aguinaldo, Reporter

SENATOR Francis N. Pangilinan on Monday questioned the imposition of martial law in Mindanao amid the series of bombing incidents in the region in the span of two months.

“This places under question the effectiveness of the martial law declaration in the entire Mindanao. What’s the point of such a declaration by government if it is incapable of preventing such bombings?” he said in a statement.

“Let’s not yield to the deviousness of the attackers. Let’s be vigilant and alert at all times,” he added.

Since July 31, four incidents of bombings occurred in four provinces in Mindanao. An improvised explosive device exploded in General Santos City on Sunday morning, wounding seven people.

Hours after the blast in General Santos City, another IED bomb was set off in Midsayap, North Cotabato. on July 31, a passenger van explosion in Lamitan, Basilan killed 11 people, three of whom were women and another, a child.

An IED blast was also reported last Aug. 28 while people were celebrating Hamungaya Festival in Isulan, Sultan Kudarat where two were killed.

For his part, Senator Panfilo M. Lacson, in a tweet on Monday, doubted whether Congress’ cooperation with Malacanang was “worth it” on the passage of the Bangsamoro Organic Law and the granting of martial law extension.

“With a promise of peace in Mindanao, we burned candles to pass the Bangsamoro Organic Law. That, after we supported the extension of martial law. The recent bombings make us doubt if Congress’ cooperation with Malacanang is all worth it,” Mr. Lacson said.

“It’s their turn to prove us wrong,” he added.

Senate Minority Leader Franklin M. Drilon cited the need to revisit the intelligence budget following the incidents, saying, “This should be an item for discussion on the committee for intelligence fund to find out behind closed doors how the budget is being utilized.”

President Rodrigo R. Duterte declared martial law in Mindanao in May 2017 after government forces clashed with the terrorist Maute group in Marawi City. Congress later granted the President’s request for an extension of martial law in Mindanao until December 2018.

Still flooded

September 17, 2018 | 8:54 pm

PARTS of Pangasinan, such as Barangay Maningding in Sta. Barbara town were still flooded as of Monday morning, Sept. 17, following heavy rains brought by typhoon Ompong (international name: Mangkhut) over the weekend. The Department of Public Works and Highways reported that as of yesterday morning, 44 road sections, including several in Pangasinan, were closed to all types of vehicles while several others were partly blocked “due to rock debris, slides, fallen trees, mudflow, rock and soil collapse, washed-out road, road cut, damaged slope protection and electric post, road slip, eroded bridge approach, fallen trees and flooding. These are in Regions 1,2,3,6, and the Cordillera Administrative Region.

PRA targets rich Russian retirees

September 17, 2018 | 8:53 pm

THE PHILIPPINE Retirement Authority (PRA) Cebu Satellite Office wants to attract wealthy Russian retirees to choose Cebu as their second home destination. PRA-Cebu officer-in-charge Elma A. Corbeta said the Russian market has started to show interest in acquiring a permanent special visa in the country and Cebu is one of their top destination picks. “We want to hit the rich market,” Ms. Corbeta said in an interview. The Department of Tourism, in its National Tourism Development Plan for 2016-2022, is seeking an increase in Russian visitor arrivals to 71,000 by 2022 from 25,000 in 2015. Ms. Corbeta said she is planning to link up with appropriate agencies and establishments to promote Cebu to the huge active retiree market in Russia. Chinese nationals currently top the foreign retirees staying in Cebu and availing of special resident retirees visa. PRA data show of the 3,900 special retiree visa holders in Cebu, majority are Chinese, followed by Koreans, and Taiwanese. – The Freeman

Pursuit operations on vs GenSan bombers as public asked for info, vigilance

September 17, 2018 | 8:52 pm

POLICE DIRECTOR General Oscar D. Albayalde said security forces have been mobilized to track down those responsible for Sunday morning’s blast in General Santos City, which left eight people injured. “I have directed the mobilization of all available police security forces in pursuit operations against persons responsible for the latest act of terrorism in General Santos City this morning,” Mr. Albayalde said in a statement on Sunday evening. “I have once again strongly directed our police units in SOCCSKSARGEN (Region 12) to further intensify conduct of checkpoints, police visibility patrols, and focused intelligence and law enforcement operations in close coordination with the rest of the members of the security sector,” Mr. Albayalde said. “At the same time, we will surely appreciate any information from our citizens that may help police to identify the suspects,” he added. Meanwhile, Gov. Emmylou “Lala” T. Mendoza of Cotabato, one of the provinces in the SOCCSKSARGEN Region, stressed on Sunday evening that peace and security is “everybody’s concern.” She said checkpoints are continuously implemented daily and asked for full public cooperation. “We don’t know why until now there are still bombings,” she said.
NORTHERN MINDANAO
In Northern Mindanao (Region 10), Police Regional Director PCSupt Timoteo G. Pacleb also ordered full security alert following the General Santos City incident. In a statement, the police regional office said officers and K-9 units have been deployed in busy public areas while intelligence units are intensifying information gathering activities. “We need to further intensify our intelligence monitoring and liaising to build a strong information network against this kind of terror attack,” Mr. Pacleb said.

Japan upgrading Davao office into consulate general

September 17, 2018 | 8:51 pm

THE JAPANESE government is upgrading its consular office in the city into a consulate general office, which would have authority to handle wider commercial relations. Makoto Iyori, Minister for Economic Affairs of the Japanese Embassy in the Philippines, told the Mindanao Business Conference in Tagum City, Davao del Norte last weekend that the plan to enhance its Davao office is “part of strengthening the cooperation between Japan and the Philippines,” particularly in Mindanao. Mr. Iyori said they are targeting to have the expanded office in place by Jan. 2019. — Carmelito Q. Francisco

Chinese business delegations visit Davao as consular office prepares for opening

September 17, 2018 | 8:50 pm

MORE CHINESE investors have been visiting Davao City to scout for business opportunities in the southern islands, according to Mindanao Development Authority Deputy Executive Director Romeo M. Montenegro. “We hope they will eventually invest in Mindanao as they are eager to explore its potentials, particularly in agriculture,” Mr. Montenegro told BusinessWorld yesterday, noting that they gave a briefing last week to one Chinese delegation and have been replying to numerous inquiries. Last week, Chinese Consul General Li Lin said during the Mindanao Business Conference that he has been actively inviting investors from his country to look for opportunities in Mindanao. China is currently setting up its consular office here, with opening expected before the end of the year. “Mindanao is facing a rare opportunity of (economic) growth,” he said. — Carmelito Q. Francisco

3 Indonesian captives released by Abu Sayyaf amid military pursuit

September 17, 2018 | 8:45 pm

THREE INDONESIAN fishermen held by members of a notorious Islamist kidnap-for-ransom group have walked free 18 months after they were abducted off the southern Philippines, the military said on Sunday. The men were kidnapped in January 2017 while on board a speedboat off the southernmost island group of Tawi-Tawi, which together with the nearby Sulu archipelago are preyed on by Abu Sayyaf militants. The Indonesians were freed in the town of Indanan in Sulu on Saturday and “turned over” to authorities following “intensified military operations” against the Abu Sayyaf, a regional army spokesman said without giving details. Asked if a ransom was paid, Lieutenant Colonel Gerry M. Besana told AFP: “No, there was definitely no ransom given. (They) were pressured by our operations.” The Abu Sayyaf has been known to behead hostages unless ransom payments are made. The Philippine military identified the three Indonesians as Hamdam Bin Salim, 34, Subande Satto, 27, and Sudarlan Samansung, 41. The Abu Sayyaf is still holding 11 hostages, including a Dutch bird-watcher abducted in 2012 and a Vietnamese captive, according to Mr. Besana. — AFP

Nation at a Glance — (09/18/18)

September 17, 2018 | 8:45 pm

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

Altas gun for skid-halting win over Chiefs in San Juan

September 17, 2018 | 6:47 pm

By Michael Angelo S. Murillo
Senior Reporter
CURRENTLY right smack in a campaign-hampering losing skid, the Perpetual Help Altas try to wiggle out of it when they take on the Arellano Chiefs in National Collegiate Athletic Association Season 94 action today at the FilOil Flying V Centre in San Juan City.
Losers of their last three games after winning five of its first seven matches in the ongoing season, the Altas (5-5), the Season 94 hosts, try to go back on the winning track in their 4 p.m. match with the Chiefs (4-6).
The most recent of Perpetual Help’s losses came at the hands of College of Saint Benilde, 91-87, on Sept. 6.
In said game, the Altas rode on the career game of Prince Eze, who finished with 36 points and 17 rebounds, but it was not enough to tow his team to the victory.
Perpetual Help continued to miss the services of floor general Edgar Charcos, something the team is seemingly having a hard time adjusting to.
Charcos, who is averaging 17 points, 4.3 rebounds, 3.9 assists and 1.9 steals before hurting his knee at the tailend of the first round, has missed his team’s last three matches which had all been losses.
Out to add to the misery of the Altas, meanwhile, are the Chiefs, who were tripped in their last game by the Letran Knights, 99-82, on Sept. 6.
Arellano kept in step with Letran for much of the contest but faltered in the end to begin its second-round bid on the off foot.
Michael Canete and Archie Concepcion led the way for the Chiefs with 17 points apiece.
With the loss, Arellano lost further ground in their attempt to hitch a ride for the playoffs midway into the tournament.
Playing in the 2 p.m. game are the College of Saint Benilde Blazers (7-4) and the Mapua Cardinals (3-8).
Today’s double-header marks the return of the NCAA after games on Friday, Sept. 14, were postponed because of Typhoon Ompong (international name: Mangkhut), which wreaked havoc with strong winds and gust to much of Luzon.