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Shares drop on concerns over US-China trade war

SHARES DOVE anew on Thursday, quickly reversing gains in the previous session as trade tensions pulled down most markets overseas.
The benchmark Philippine Stock Exchange index (PSEi)plunged 1.53% or 109.86 points to 7,066.57. The broader all-shares index also lost 1.28% or 56.07 points to 4,323.23.
“It looks like [Wednesday]’s 169-point gain wasn’t enough of a push as investors took profits today instead… Value turnover was weaker than [Wednesday] at only P5.8 billion as some may be looking forward to the aforementioned window dressing tomorrow,” Papa Securities Corp. trader Gabriel Perez said in an e-mail on Thursday.
The local index also tracked the lower finishes seen abroad as developments in the trade war between the United States and China continued to affect markets.
“Trade tensions took center stage locally and regionally along with US stocks reversing earlier gain despite oil surging,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
US President Donald J. Trump announced on Wednesday that Washington will be using a strengthened national security review process to halt Chinese acquisition of sensitive American technologies.
“The announcement tamped down fears of an abrupt escalation in the trade war between the US and China that had roiled financial markets on Monday,” Mr. Limlingan added.
Wall Street indices also fell to their lowest levels since May, as the Trump administration’s softer stance on the trade war failed to offset the decline in large-cap tech firms. The Dow Jones Industrial Average slipped 0.68% or 165.52 points to 24,117.59. The S&P 500 shed 0.86% or 23.43 points to 2,699.63, while the Nasdaq Composite index dropped 1.54% or 116.54 to 7,445.08.
Most Asian indices also declined following the slowdown of tech stocks.
Back home, four sectoral indices moved to negative territory, led by the property sub-index which gave up 2.54% or 89.80 points to 3,444.08, followed by holding firms which dropped 2.04% or 145 points to 6,937.59. Industrials slumped 1.35% or 140.92 points to 10,254.44, while services declined 0.38% or 5.36 points to 1,371.74.
Meanwhile, mining and oil went up 0.10% or 9.84 points to 9,631.53, while financials added 0.05% or 1.04 points to 1,772.24.
Some 623.63 million issues switched hands, resulting in a turnover of P5.79 billion, lower than Wednesday’s P6.50-billion turnover.
Foreign investors were net sellers for a second day, dumping a net of P362.06 million worth of funds, higher than the P235.14-million net sales generated in the previous session.
Papa Securities said investors will be looking forward to DM Wenceslao and Associates, Inc.’s first day of trading at the stock exchange on Friday, following its initial public offering where it looked to raise up to P8.15 billion. — Arra B. Franca

Sison quits peace talks

By Dane Angelo M. Enerio
“MAHIRAP MAKIPAGUSAP kay Duterte (it is difficult to talk with Duterte).”
So went communist leader Jose Maria Sison’s reason for giving up on peace talks with President Rodrigo R. Duterte and his administration.
“[T]he NDFP can no longer negotiate with a (government) that is headed by Duterte,” he told attendees in a video call at a forum on Thursday. Mr. Sison is the chief political consultant of the National Democratic Front of the Philippines (NDFP) and founder of the Communist Party of the Philippines.
He said the government has been “balasubas at hindi marunong sumunod sa mga kasunduan (rough and does not know how to keep its commitments).”
“It is relatively easier and more productive for the NDFP to participate in the oust-Duterte movement and to prepare for peace negotiations with the prospective administration that replaces the Duterte administration,” Mr. Sison also said.
“The Duterte regime is on record as having terminated the peace talks so many times,” he pointed out.
Mr. Duterte, through Presidential Peace Adviser Jesus G. Dureza, announced on June 14 he would postpone talks with communist rebels that were supposed to take place in Oslo, Norway, on Thursday.
“Maliwanag siya ang nag-withdraw sa peace negotiations, okey lang. It is clear he was the one who withdraw from the peace negotiations, it’s okay),” Mr. Sison said.
He called on his comrades to “fight the Duterte regime in various forms of struggle.”
“Pinagbigyan na si Duterte ng dalawang taon. Tiniis natin. Kung tiisin natin pagkatapos ng dalawang taong panloloko may malaking peligro (Duterte was given two years. We’ve been bearing with that. If we keep up with this after two years of deceit, we are in peril),” Mr. Sison said.
But he also said, “Nothing goes to waste in the work and drafts of agreements already done by the NDFP.”
“They can be carried over to the negotiation with (the government) under a new administration,” he added.
In response, Mr. Duterte told reporters, “Eh di mabuti (Well and good). If they are not willing to talk, that’s fine.”
“Kung gusto mo makipag-usap, pumunta ka dito. Kung ayaw mo, eh di huwag (If you want to talk, come here. If you don’t, then don’t),” he said.

SWS: 1 in 4 Filipinos aware of federal system of government

ONE in four Filipinos who make up 25% of respondents know about the federal system of government, while 75% said they learned about it only during the survey, according to the Social Weather Stations (SWS).
The First Quarter 2018 Social Weather Survey, conducted March 23-27, also found that 37% agree with the federal system of government (consisting of 14% who strongly agree and 23% who somewhat agree), 29% disagree (12% who somewhat disagree and 17% who strongly disagree), and 34% were undecided about the matter.
This gives a net agreement score +7 (% agree minus % disagree, correctly rounded), classified by SWS as neutral. The SWS terminology for net agreement is as follows: +50 and above, “extremely strong”; +30 to +49, “very strong”; +10 to +29, “moderately strong”; +9 to -9, “neutral”; -10 to -29, “moderately weak”; -30 to -49, “very weak”; -50 and below, “very weak”; -50 and below, “extremely weak.”
How many Filipinos are aware of federal system of government?
NAMES OF STATES
The survey also found that 58% don’t know the name of the “state” being promoted in their locality.
“Of the 31% who were able to provide names, the top responses were Philippine State/State of the Philippines/United States of the Philippines (2%), Dinagat State/State of Dinagat/United States of Dinagat (2%), State of Davao/Davao State (2%), and State of Cavite/Cavite State/United States of Cavite (2%),” SWS said.
The rest of the names mentioned by respondents — such as State of Pampanga, State of Quezon City, and State of Laguna — obtained 1% or less.
SWS said awareness about the federal system of government was highest in Mindanao at 37%, followed by Metro Manila at 28%, Visayas at 22%, and Balance Luzon at 20%.
It was also in Mindanao that support for the federal system was highest, with a very strong net agreement score of +43 (59% agree, 16% disagree), followed by Metro Manila at a neutral +7 (38% agree, 31% disagree), Visayas at a neutral +2 (32% agree, 30% disagree), and Balance Luzon at a neutral –8 (27% agree, 35% disagree).
Awareness was slightly higher in rural areas at 27%, compared to urban areas at 24%. On the other hand, net agreement with the federal system was higher in urban areas at a moderately strong +11 (39% agree, 28% disagree), compared to rural areas at a neutral +4 (34% agree, 30% disagree).
Awareness was also highest among college graduates at 53%, followed by high school graduates at 26%, non-elementary graduates at 17%, and elementary graduates at 16%. Support for the federal system of government was stronger among those with more years of formal schooling: it was highest among college graduates at a moderately strong +27 (50% agree, 23% disagree), followed by high school graduates at a neutral +5 (37% agree, 32% disagree), non-elementary graduates at a neutral +4 (28% agree, 24% disagree), and elementary graduates at a neutral +3 (33% agree, 30% disagree).
By religion, awareness about the federal system was highest among Muslims at 51%, followed by Iglesia ni Cristo members at 37%, other Christians at 32%, and Catholics at 22%. Support for the federal system of government was also highest among Muslims at a very strong net agreement score of +47 (61% agree, 14% disagree), followed by other Christians at a neutral +9 (35% agree, 26% disagree), Catholics at +4 (35% agree, 30% disagree, correctly rounded), and Iglesia ni Cristo members at +2 (39% agree, 37% disagree).
The noncommissioned survey used face-to-face interviews of 1,200 adults (18 years old and above) nationwide: 300 each in Metro Manila, Balance Luzon, Visayas, and Mindanao, with sampling error margins of ±3% for national percentages and ±6% each for the said areas.
‘INFORMATION DRIVE’
In response to the survey, Presidential Spokesperson Harry L. Roque, Jr. said, “Well apparently, the information drive is not enough. We’ll need to work harder given that the shift to federalism is the cornerstone of the Duterte administration.”
For his part, Constitutional Commission spokesperson Conrado I. Generoso noted the period of the survey when “Concom was barely a month old. We convened February 19. Fairly this is very much understandable and that’s why we are conducting these media briefings as often as we can because really part of the responsibility is with you guys. The country needs your help. We are asking media to give the stories about ConCom, about the proposed changes in the Constitution, about federalism whether the story is for or against.”
He also said: “The survey is very much encouraging to us because of the details provided here. For instance it says the result of the survey is +7 or neutral, meaning when you deduct those who disagree from those who agreed, the result is +7 and the number of undecided is very high at… 34%, which makes that, really, if we go out and tell the remaining… 34% of the people, I’m very sure they’ll be convinced. They will be convinced that this is the way forward for this country.”
ConCom member Susan U. Ubalde-Ordinario said for her part: “It’s very encouraging for us because we now know that with a little more effort on our part to reach out to the public, I think we will be able to really convey the message and the importance and their responsibility in this whole thing.”
For his part, Senator Francis N. Pangilinan, who heads the Senate committee on constitutional amendments and revision of codes said in a statement: “The latest survey result is consistent with past survey results, which also showed little knowledge about the planned new form of government.”
He added: “Our previous hearings sought to answer the following questions: Is there a need to change the Constitution? If yes, what provisions and why? Who should amend the Constitution? Legislators as a constituent assembly? Or elected delegates in a constitutional convention? If con-ass, should the Senate and the House of Representatives vote jointly or separately?” —with Camille A. Aguinaldo and Arjay L. Balinbin

Ombudsman to be strengthened in federal charter

By Camille A. Aguinaldo
THE Constitutional Commission (ConCom) tasked to review the 1987 Constitution wants the Office of the Ombudsman to be given “more teeth” in fighting graft and corruption under the proposed federal Charter.
At a press briefing on Thursday, ConCom spokesperson Conrado I. Generoso said the Office of the Ombudsman would be renamed the “Federal Ombudsman Commission.” The agency would also be elevated as among the Constitutional Commissions in the new Constitution.
Under the proposal, the Federal Ombudsman Commission is composed of the chief ombudsman, four associates for Luzon, Visayas, Mindanao and Metro Manila, an overall deputy ombudsman for administration, a deputy ombudsman for the military and law enforcement, and a deputy ombudsman for every federated region.
Mr. Generoso said the new structure is intended to speed up the investigation, prosecution, and resolution of cases. It would also address the inordinate delay in cases which have caused their dismissal.
“By having a commission, you can have more commissioners looking at different cases. Instead of just one Ombudsman, looking at all the numerous cases, you can now divide the number of cases to the different commissioners. It will now be a collegial body,” he said.
Additional powers were also given to the new ombudsman office, such as giving the proposed commission the authority to preventively suspend any officer or employee under his authority pending an investigation.
No writ of injunction would also be issued by any court to delay an investigation being conducted by the Ombudsman, Mr. Generoso added.
Under the present 1987 Constitution, provisions on the Office of the Ombudsman are mentioned under Article 11 on Accountability of Public Officers. The office has the power to investigate erring public officials and recommend his or her removal, suspension or demotion, among others. Republic Act No. 6770 or the Ombudsman Act of 1989 further provides the functions and structure of the Office of the Ombudsman.

Senate leader visits detained senator

By Camille A. Aguinaldo
SENATE President Vicente C. Sotto III on Thursday visited Senator Leila M. De Lima at the Philippine National Police (PNP) Custodial Center in Camp Crame, Quezon City.
Mr. Sotto noted that he had made such visits in the past, in the case of Senators Gregorio B. Honasan II and Antonio F. Trillanes IV when they were in detention, as well as former senators Juan Ponce Enrile, Sr., Jose “Jinggoy” P. Estrada, and Ramon Bong R. Revilla, Jr.
“I visited Sen. De Lima so I could see how she was doing. We also talked about the bills she want to push for and how she can participate in the hearings,” the Senate leader said in a statement as issued in a phone message to reporters.
Mr. Sotto also said Ms. De Lima raised the pending bills in the Senate committee on social justice, welfare, and rural development, which she chairs.
“(She raised) concerns on hearing and reporting out of bills procedures which I promised to look into. She was not asking for any special favors. She said she was being treated fairly and is content in receiving the same treatment as other detainees,” Mr. Sotto said.
In a statement, Ms. De Lima said she was grateful to Mr. Sotto for expressing concern on how she can do her job as senator while in detention.
“In my discussions with SP Sotto, I am most pleased with how he laid down the bills and resolutions that I am pushing for in the Senate. Despite my detention for 490 days, I will continue my work in helping out the poor,” she said.
Ms. De Lima was arrested on Feb. 24, 2017 after the Duterte administration claimed she was involved in the illegal drug trade at the New Bilibid Prison while she was justice secretary.

Cabinet Secretary to join Palace dialogue with religious groups

By Arjay L. Balinbin, Reporter
PRESIDENT Rodrigo R. Duterte has tapped Cabinet Secretary Leoncio B. Evasco, Jr. to join the committee tasked to hold dialogues with religious groups, Malacañang announced on Thursday.
“The President designated a fourth member to the committee to hold dialogues with the different Churches. Cabinet Secretary Evasco, Jr. was appointed the fourth member of this presidential committee,” Presidential Spokesperson Harry L. Roque, Jr, said in a press briefing.
Mr. Roque said he received the information “late last night,” Wednesday. “He’s an ex-priest, and he’s familiar with the dorma of the Catholic Church,” he said when asked why Mr. Evasco was chosen to be part of the committee.
According to his profile, as posted on the official Web site of the National Home Mortgage Finance Corporation (NHMFC), Mr. Evasco finished his bachelor’s degree in philosophy and theology at Seminario Mayor de San Carlos in Cebu City in 1966 and 1970, respectively. He was ordained into the priesthood in 1970 and joined the Communist Party of the Philippines-New People’s Army (CPP-NPA) in 1974, at the height of the Marcos dictatorship.
Mr. Roque also confirmed that Mr. Duterte has received an invitation from the Papal Nuncio in Manila, Archbishop Gabriele Giordano Caccia, to attend the Pope’s Day celebration on June 29 at the Apostolic Nunciature in Malate.
But Mr. Roque added: “I don’t think at this point that the President will be attending the event. But then again, until the Office of the President actually says so, I’m not sure and I’m just wary that because the invitation came so late, the President already has fixed schedules. So, I do not have any idea if the President will be able to attend, but at the same time we’re awaiting orders from PMS (Presidential Management Staff) if the committee will be representing the President on Friday. So, until now also, we have not had any formal request from the PMS to represent the President this Friday,” he said.
Mr. Roque also said the Palace does not see religious leaders as initiating destabilization efforts against Mr. Duterte.
Speaking to GMA News on Thursday, Council for Philippine Affairs (COPA) secretary-general Pastor “Boy” Saycon, who is also part of the committee, said: “The destabilization plot against the President is real. The effort to remove him…is something that he attributes to some of the leaders of the Catholic Church.”
Mr. Roque for his part said: “I’ll have to tell [Mr. Saycon] to be more careful about what he says to the public and to the media, and that there (are) vetting processes before we’re able to say anything to the media. So, I will discuss with him the communication protocols of the government.”

Nationwide Round-Up

Malacañang ready to defend anti-loitering drive before Congress, court

Members of Akbayan Youth loiter at a street along Kalayaan Ave. in Quezon City in this photo taken on June 20 as they denounce the crackdown against “tambays” (loiterers). — PHILSTAR/MICHAEL VARCAS

PRESIDENTIAL SPOKESPERSON Harry L. Roque, Jr. on Thursday said the administration welcomes the proposed Congressional investigations on President Rodrigo R. Duterte’s anti-loitering campaign. Mr. Roque said the planned inquiries in both the Senate and House of Representatives would even be helpful, especially if these lead to the drafting of laws that would improve the implementation of the campaign that largely uses local ordinances as basis. “So we welcome the Congressional investigations and we welcome also challenges before the Supreme Court. The President has said so,” the spokesperson said in a press briefing at the Palace. He also said the administration does not intend to criminalize vagrancy. “We are not criminalizing vagrancy po. We are implementing the laws and ordinances and it is a form of higher police visibility intended to act as deterrent towards the commission of crimes,” he said. Asked if the campaign is not in violation of Republic Act No. 10158, an act decriminalizing vagrancy, Mr. Roque replied: “Hindi po, hindi po (No, no). (The) decriminalization… is (only) a particular crime of vagrancy under the Revised Penal Code, and that’s without prejudice to other existing ordinances.”— Arjay L. Balinbin

Aguirre files libel complaint vs PDI, Tulfo

FORMER JUSTICE Secretary Vitaliano N. Aguirre II has filed a libel complaint against columnist Ramon T. Tulfo, Jr., and several editors and officers of newspaper Philippine Daily Inquirer (PDI) and sister publication, the tabloid Bandera. The charges are based on articles which Mr. Aguirre claimed to be, not only false, fictitious and untrue, but are wholly libelous, scurrilous, defamatory, malicious, and derogatory.” In his 29-page complaint submitted before the Manila City Prosecutor’s Office, Mr. Aguirre charged Mr. Tulfo, PDI officers Marixi R. Prieto, Alexandra Prieto-Romualdez, and Renato R. Reinoso with 12 counts of cyberlibel and ten counts of libel, in violation of Republic Act No. 10175 (Cybercrime Prevention Act) and Articles 253, 355, and 360 of the Revised Penal Code. Also charged were editors Jose Ma. D. Nolasco, Rosario A. Garcellano, and Abelardo S. Ulanday, along with “other responsible corporate officers, publishers, editors, and managers of (PDI).” Meanwhile, Bandera Publisher Eileen G. Mangubat and editors Dona B. Policar and Jimmy I. Alcantara face 10 counts of libel. Mr. Aguirre is seeking damages of P1 as “a symbolic amount in principle to end the proliferation of fake news and its appurtenant lies and calumny against anyone in this country.”— Dane Angelo M. Enerio

ACB lauds efforts to cut plastic waste

THE ASSOCIATION of Southeast Asian Nations (ASEAN) Centre for Biodiversity (ACB) has lauded the initiatives of member states to cut plastic wastes in markets and restaurants, citing Los Baños in the Philippines as one example. ACB Executive Director Theresa Mundita S. Lim said the use of plastic bags has been regulated and plastic straws have been banned in the town located about 68 kilometers south of the capital. In several other parts of the Philippines, public markets and supermarket chains have launched campaigns to encourage customers to bring their own bags. In Brunei, shoppers are encouraged to bring their own reusable bags, while Vietnam establishments have introduced eco-friendly bags. Major supermarket chains in Cambodia, meanwhile, charge shoppers $0.10 per plastic bag, while Singapore has started to ban the use of plastic utensils for dine-in customers this month. Thailand has launched a campaign to reduce the use of plastic. — Anna Gabriela A. Mogato

BIR slaps tax evasion charges against a dozen businesses

THE BUREAU of Internal Revenue (BIR) announced Thursday, June 28, the filing of tax evasion charges against 12 businesses and their owners, mainly based in the National Capital Region as well as Rizal and Bicol. In several press statements released June 28, the biggest liability identified by the BIR was P63.95 million against Daeah Phils., Inc. based in Kapitolyo, Pasig City. The next two highest were Shema Ultimate Business Innovative Concept, Corp. in Quezon City with P49.02 million and Northstar Transport Facilities (Ltd.), Inc. in Pasig with P43.88 million. The others in Metro Manila are: Theaden Marketing Services in Quezon City (P17.84 million); C.B. Eugenio Enterprises Co., Inc. in Taytay, Rizal (P4.35 million); Plastic Technobag Co., Ltd. in Quezon City (P5.32 million); RPV Electro Technology Philippines, Corp. in Pasig (P18.32 million); and Touring Group, Inc. in San Juan (P4.67 million). In Bicol, the establishments are: Sunrise Emission Test Center in Talisay, Camarines Norte — P34.05 million; Tabaco Sports Arena (cockpit) in Pawa, Tabaco City — P21.36 million; Renato A. Masbate, owner of various meat shops and eatery in Daraga, Albay — P15.27 million; and Jeca Minerals in Mabolo, Naga City — P2.24 million. Meanwhile, Renell Paul S. Reyes, owner of Paul Trading and Construction Supply in San Mateo, Rizal, was charged with unlawful pursuit of business for failing to register with the BIR.

How many Filipinos have been lifted out of poverty because of CCT?

The Philippines’ conditional cash transfer program (CCT) program, locally known as Pantawid Pamilya Pilipino Program, or 4Ps, is currently the world’s fourth-largest CCT program based on population coverage, according to the World Bank.
06.13 Fast Facts_Poverty
Launched in 2007, the 4Ps has one of the most comprehensive poverty targeting databases in the world today, covering 75% of the country’s population.
A World Bank study published in 2015 estimates that the program has led to a poverty reduction of 1.4 percentage points per year or 1.5 million less poor Filipinos.
ALSO READ:
DSWD says no basis for DA claim that cash transfers make beneficiaries idle

Boracay’s Ati tribe to open organic vegetable farm, restaurant

THE ATI indigenous people of Boracay is getting assistance from the Department of Agriculture (DA) for setting up a high-value vegetable organic farm and a restaurant, which is planned to be ready for tourists when the island reopens in October. “The Ati Tribe of Boracay Island will no longer be just hawkers and spectators to the thriving tourism industry in their ancestral land which benefits big businessmen because they too will be part of the booming tourism industry when the popular world vacation destination reopens on Oct. 26 this year,” DA Secretary Emmanuel F. Piñol wrote on his Facebook page on June 27 after he attended the project launch. The farm, which will also have a solar-powered greenhouse, is planned to produce supply not just for the Ati’s own restaurant along the main road, but also for the island’s resorts. The two-hectare farm complex within ancestral land is also planned to have “Tribal Vacation Cottages” using indigenous materials, where guests can experience the Ati’s traditional way of life. The Bureau of Fisheries and Aquatic Resources, meanwhile, distributed 10 fiberglass fishing boats with gear and engine for the Ati tribesmen and other local fisherfolk. The assistance program also includes technical and financial literacy training from the Agricultural Training Institute and the Agricultural Credit Policy Council.

Maasin Airport terminal building to be inaugurated July 2

THE UPGRADED passenger terminal building of Maasin Airport in Southern Leyte has been completed and will be inaugurated on Sunday, July 2. The terminal is now equipped with gang chairs, power, and water supply. Maasin Airport, one of the community airports under the Civil Aviation Authority of the Philippines (CAAP), served as an alternative entry point for relief goods and medicines in the aftermath of super typhoon Yolanda (international name: Haiyan), which severely damaged the Eastern Visayas Region’s main gateway, the Daniel Z. Romualdez Airport in Tacloban City. CAAP said the new passenger building project is intended to upgrade the airport from a community airport to a standard principal class 2 facility to meet increasing transport demand.

Davao tourist arrivals up 20%

TOURIST ARRIVALS in the city from January to May this year went up by 20% to 975,000 from 806,000 during the same period last year. “During the previous years it’s always during the Kadayawan when tourism arrival peaks but now there is a spike in arrivals even at the start of the year,” City Tourism Office Chief Gene Rose D. Tecson said in an interview. Ms. Tecson said the increase is mainly attributed to the conventions and events held in the city. “After last year’s martial law declaration, we had cancellations, but after that maybe they saw how good it was in Davao, and no one can feel the martial law here, they all came back,” she said. The target tourist arrivals for 2018 is 2.3 million, up from about two million in 2017. — Carmencita A. Carillo

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