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Peso inches up vs dollar ahead of key US data

BW FILE PHOTO

THE PESO inched up on Tuesday as the dollar was generally weaker ahead of the release of key US data later this week.

The local unit closed at P58.77 per dollar on Tuesday, strengthening by three centavos from its P58.80 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session stronger at P58.73. It traded better than its Monday close the entire session as its weakest showing was at just P58.777, while its intraday best was at P58.70 versus the greenback.

Dollars exchanged rose to $814.1 million on Tuesday from $559.25 million on Monday.

The dollar weakened on Tuesday ahead of the release of US gross domestic product (GDP) growth data for the first quarter and the personal consumption expenditures (PCE) data for May, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The peso appreciated amid expectations of a decrease in the US PCE inflation report this week,” a trader likewise said in an e-mail.

In the broader market, the dollar eased slightly ahead of Friday’s release of the US PCE price index — the US Federal Reserve’s preferred measure of inflation, Reuters reported.

PCE inflation is expected to have ticked down to 2.6% year on year in May from 2.7% in April.

The dollar index, which measures the currency against six major peers, was last flat at 105.47, down slightly from a two-month high on Friday.

Meanwhile, the dollar attempted to break above the key 160 yen level on Tuesday but with little success as fears of intervention from Japanese officials deterred traders from punishing the yen too severely against other currencies, Reuters reported.

The dollar was last 0.1% lower at 159.49 yen, clinging to a tight range, as traders remained wary of testing the key resistance level that had prompted a 9.79 trillion yen ($61.33 billion) currency intervention from Tokyo in late April and early May.

The latest decline in the yen has come on the back of the Bank of Japan’s (BoJ) June policy meeting, where policy makers disappointed investors who were betting on an immediate reduction of the BoJ’s massive bond purchases.

For Wednesday, the trader said the peso may continue to strengthen ahead of the Bangko Sentral ng Pilipinas’ policy meeting on Thursday.

The trader expects the peso to move between P58.60 and P58.85 per dollar on Wednesday, while Mr. Ricafort sees the peso ranging from P58.65 to P58.80. — AMCS with Reuters

Nexif Ratch RE projects obtain BoI green lane endorsement

THE Board of Investments (BoI) said on Tuesday that it granted green lane certificates to Nexif Ratch Energy Investments Pte. Ltd. (NREI) for its renewable energy (RE) projects.

In a statement, the BoI said that NREI’s solar and wind power projects in Camarines Sur are eligible for the expedited permit process after the award of a certificate of endorsement for green lane services on June 11.

“(These) are significant capital investments that will create a consequential economic contribution and positive environmental impact for the Philippines,” according to Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo.

The government, through Executive Order (EO) No. 18, established “green lanes” in all government agencies in order to speed up the approval and registration process for priority or strategic investments.

One of the projects is the Calabanga Solar Power Project, which has a total capacity of 74.131 megawatts at its peak and a project cost of P3.7 billion.

It began construction in June last year and is being operated by NREI subsidiary Calabanga Renewable Energy, Inc.

The other project is the San Miguel Bay Wind Power Project, a 500-megawatt offshore wind energy venture estimated to cost P60 billion.

It is scheduled to start construction in early 2026 and hopes to start operations in 2028.

Its output is expected to be auctioned through the Department of Energy’s Green Energy Auction Program, the BoI said.

NREI is a joint venture between Singapore’s Nexif Energy and Thailand’s Ratch Group. — Justine Irish D. Tabile

Philippine Defense chief says no plan to hold talks with China

AN AERIAL VIEW of the BRP Sierra Madre at the contested Second Thomas Shoal on March 9, 2023. — REUTERS

By John Victor D. Ordoñez, Reporter

THE PHILIPPINES does not plan to engage in defense talks with China after a standoff at Second Thomas Shoal in the South China Sea on June 17, its Defense chief said on Tuesday.

“They (China) have the tendency to use these talks against us,” Philippine Defense Secretary Gilberto C. Teodoro, Jr. told a Senate hearing that is looking into last week’s incident, where bolo-wielding Chinese Coast Guard men on rubber boats allegedly threatened Filipino soldiers.

“They have not proven a level of good faith that would warrant our sensitive department to talk to them,” he added.

A Philippine Navy officer lost his thumb after the rubber boat he was in was rammed by the Chinese, according to the military. The Chinese Coast Guard also looted several rifles stored in gun cases, actions that military chief Romeo S. Brawner, Jr. said only “pirates” do.

Mr. Teodoro issued the remarks after Senator Maria Imelda “Imee” R. Marcos asked him whether his agency has plans to talk to its Chinese counterpart.

The Defense chief said there won’t be any talks until “fundamental processes” are settled.

On Monday, he said the Philippines would not announce the schedule of its resupply missions to Second Thomas Shoal, where Manila grounded a World War II-era ship in 1999 to bolster its sea claim.

He called the June 17 incident neither a misunderstanding nor an accident but a “deliberate act” of Chinese forces.

Manila is trying to hold talks with China to discuss the sea dispute including the blocking of the June 17 resupply mission to the grounded BRP Sierra Madre, Foreign Affairs Secretary Enrique A. Manalo told senators.

“We still believe in the primacy of dialogue, and diplomacy should prevail even in the face of these serious incidents, though I admit it’s also a challenge,” he said.

US Secretary of State Antony Blinken last week spoke with Mr. Manalo on the phone to discuss Chinese actions in the South China Sea, which Manila and Washington have called escalatory.

Mr. Blinken said China’s actions “undermine regional peace and stability” and reaffirmed Washington’s commitment to its Mutual Defense Treaty with Manila.

Second Thomas Shoal has been a flashpoint in recent months between the countries. The atoll lies within the Philippines’ 200-nautical mile maritime zone, which China claims as its own.

China claims almost the entire South China Sea, including parts claimed by the Philippines, Vietnam, Malaysia and Brunei. A United Nations-backed tribunal in the Hague in 2016 voided its sweeping claims for being illegal.

“We sternly communicated to our counterparts that it was really incomprehensible how the delivery of basic necessities to our troops on the BRP Sierra Madre could be considered a provocation that would justify an increased level of Chinese actions,” Mr. Manalo said.

The two countries held a working group meeting last week in preparation for a potential bilateral consultation mechanism meeting in July, Mr. Manalo said.

“Whatever confidence-building measures we achieve, they will be not at the expense of promotion of our sovereignty, sovereign rights, as well as our rights and jurisdiction in the West Philippine Sea,” he said, referring to areas of the South China within the Philippines’ exclusive economic zone.

Meanwhile, the Armed Force of the Philippines said it had spotted China’s biggest coast guard ship near its outpost at Second Thomas Shoal.    

The presence of China Coast Guard 5901, the world’s largest coast guard ship also known as The Monster, near BRP Sierra Madre is part of a broader pattern of “intrusive patrols aimed at asserting unlawful claims over areas within the Philippines’ EEZ,” it said in a statement.   

It said the 12,000-ton vessel’s presence in the area is “illegal, coercive and contrary to the spirit of maintaining peace and stability in the region.”

The ship this week visited several hotspots in the South China Sea that fall within the Philippines’ exclusive economic zone (EEZ) such as Thitu Island, Second Thomas Shoal, Flat Island, Nanshan Island, and Sabina Shoal, said Raymond M. Powell, a fellow at Stanford University’s Gordian Knot Center for National Security Innovation. 

As of Tuesday afternoon, the ship was just 40 nautical miles from the Philippine province of Palawan, he said, citing satellite imagery. — with Kyle Aristophere T. Atienza

Manila keeps Tier 1 rank in US trafficking report

REUTERS

THE PHILIPPINES has met minimum global standards in the fight against human trafficking for the ninth straight year, with state efforts to prosecute traffickers and enforce monitoring, according to a report by the US Department of State.

In its Trafficking in Persons Report published on its website on Monday, the agency said Manila showed “serious and sustained efforts” against human trafficking from April 1 last year to March 31, keeping its Tier 1 status.

It cited Philippine efforts to monitor trafficking-related corruption cases and its campaign to go after traffickers, implement laws that punish it and mechanisms to protect victims.

“While Tier 1 is the highest ranking, it does not mean that a country has no human trafficking problem or that it is doing enough to address the crime,” the State Department said.

“Rather, a Tier 1 ranking indicates that a government has made efforts to address the problem that meet the Trafficking Victims Protection Act minimum standards,” it added.

It also cited Philippine efforts to investigate trafficking schemes linked to offshore gaming operations in the country.

The department conducts the yearly assessment to monitor the efforts of countries in fighting human trafficking, grading each on a three-tier scale.

Countries and territories under Tier 1 fully comply with the minimum standards, those under Tier 2 do not but are making significant efforts to comply with the standards, while Tier 3 countries are not making significant efforts to comply with them.

Under the US Trafficking Victims Protection Act, the US may decide not to give aid unrelated to humanitarian causes and trade such as cultural exchange programs to countries in Tier 3.

The Philippines must screen more trafficking suspects involved in online scams, boost support to government and nongovernment programs that support trafficking victims and develop a central database of illegal recruiters and human trafficking cases, the agency said.

“Due to insufficient screening for trafficking, especially among individuals exploited in online scam operations, the government likely inappropriately detained, penalized and deported some trafficking victims solely for unlawful acts committed as a direct result of being trafficked,” according to a copy of the report.

The US department also urged Manila to punish government officials and law enforcers who help suspected sex traffickers. Citing government data last year, it said 103 immigration officers were investigated over links to trafficking, 63 of whom were dismissed over the crimes.

This was still fewer than the 232 immigration personnel the government probed in 2022.

“Traffickers sometimes take advantage of the absence of adequate immigration personnel at smaller airports in the Philippines,” the US agency said.

“Anecdotal reports indicate police and local government units exploit labor trafficking individuals who voluntarily surrender to officials running the government’s anti-drug campaign.”

Mama Fatima Singhateh, United Nations special rapporteur on the sale and sexual exploitation of children, has said the Philippines lacked trained officials at the village level to monitor reports of child sexual abuse.

A total of 868 trafficked workers at a Philippine offshore gaming operator (POGO) were rescued during a police raid in Tarlac province on March 13. — John Victor D. Ordoñez

Marcos urged to resolve politically biased lawsuits

PHILSTAR FILE PHOTO

THE US State Department on Tuesday called on the government of President Ferdinand R. Marcos, Jr. to step up efforts to resolve politically motivated lawsuits against civic leaders after former Senator Leila M. de Lima’s acquittal from in her last drug trafficking case.

“We continue to urge the Philippines to resolve politically motivated cases including those against journalists and civil society, in a manner consistent with its international human rights obligations and commitments,” Department of State spokesman Matthew Miller said in a statement posted on the agency’s website.

A Muntinlupa court on Monday acquitted the former lawmaker, who had been in jail for nearly seven years, in her third and last drug trafficking case that she said was fabricated to muzzle her investigation of then-President Rodrigo R. Duterte’s deadly war on drugs.

Presiding Judge Gener M. Gito said prosecutors failed to prove that Ms. De Lima had been involved in the illegal drug trade. The same court granted her bail plea in November.

She was accused of promoting the illegal drug trade inside the national penitentiary in Muntinlupa during her time as Justice secretary. 

Convicts allegedly bribed her with P70 million, which she allegedly used to fund her senatorial campaign.

“The United States remains committed to working with the Philippines to strengthen democracy and human rights around the world,” the US agency said.

Ms. De Lima incurred Mr. Duterte’s ire when, as chairwoman of the Commission on Human Rights, she started a probe in 2009 into extrajudicial killings by the so-called Davao Death Squad in the tough-talking leader’s hometown, where he was the long-time mayor. Mr. Duterte later vowed to “destroy” her.

Amnesty International has said the government had deprived the ex-senator of her right to a fair trial through her arbitrary detention.

Political experts have said her detention showed how the government had abused the justice system.

The government estimates that at least 6,117 suspected drug dealers were killed in police operations. Human rights groups say as many as 30,000 suspects died.

Meanwhile, militant group Bayan Muna urged Ms. De Lima to campaign for the release of other political prisoners charged under Mr. Duterte’s government.

Her voice would be influential in calling for the government to release other political prisoners, Bayan Muna Executive Vice President Carlos Isagani T. Zarate said in a statement.

“With the junking of all her drug cases, we appeal to Senator Leila de Lima to actively campaign for the release of all other political prisoners, especially those persecuted by Duterte,” he said.

There are about 800 political prisoners in the Philippines, according to human rights groups.

Ms. De Lima’s detention showed how Mr. Duterte manipulated state institutions to persecute those critical of his government, Mr. Zarate said. “Democratic institutions were weaponized to suppress dissent and criticism.”

“The bastardization of the country’s justice system needs to be urgently addressed to prevent a repeat of its miscarriage as in the case of Ms. De Lima and those similarly situated,” Mr. Zarate said.

He said the misuse and abuse of legal and judicial processes for political gain undermined the country’s rule of law during Mr. Duterte’s rule. — John Victor D. Ordoñez and Kenneth Christiane L. Basilio

Duterte invited to drug hearing

RODRIGO DUTERTE — PHILSTAR FILE PHOTO

THE HOUSE human rights committee on Tuesday invited ex-Philippine President Rodrigo R. Duterte to its hearing investigating human rights violations in his deadly drug war.

Also invited to the hearing were Senator Ronald “Bato” M. dela Rosa, Mr. Duterte’s police chief, and former Senator Leila M. de Lima, who ended up in jail after criticizing the state’s anti-illegal narcotics campaign.

They were all invited to the next House hearing after June 26, Manila Rep. and committee Chairman Bienvenido M. Abante, Jr. told Tuesday’s hearing.

“Much as I would want to give courtesy to the former president and Senator Bato dela Rosa, because of the gravity of the testimony of these victims, they should face these people and hear their complaints,” he added.

“What I am saying is, perhaps, the former president would look into his own heart and realize what he has done in the past six years.” — Kenneth Christiane L. Basilio

DMW issues boarding ban

DMW FACEBOOK PAGE

THE DEPARTMENT of Migrant Workers (DMW) on Tuesday barred Filipino seafarers from boarding ships linked to the owners of Galaxy Leader, M/V Transworld Navigator and M/V Tutor and pass by the Red Sea and Gulf of Aden after recent Houthi attacks.

The ban is meant to protect Filipinos from attacks by the Yemeni rebel group, DMW Secretary Hans Leo J. Cacdac told a virtual news briefing on Tuesday.

The agency ordered shipping companies with Filipino crew to avoid the area. Filipino seamen should be given ample time to show their intent to continue their voyage or refuse passage.

Violators will be penalized, Mr. Cacdac said.

He said they want to ensure that maritime security escorts are present to protect Filipino seaman. The government is also seeking the advice of security experts including the military about the situation, he added. “We are seeking the inputs of security  experts, not just maritime stakeholders, but the military and security experts,” he added.

Twenty-two Filipinos were aboard the MV Tutor when it was attacked by Houthi rebels on June 12. Twenty-one of them have come home, while one was still missing.

On June 23, Houthi rebels attacked the MV Transworld Navigator, which had 27 Filipino seamen. All were safe, DMW said. — Chloe Mari A. Hufana

US won’t confirm fake news drive

STOCK PHOTO | Image by memyselfaneye from Pixabay

THE US Department of Defense is unlikely to admit or deny a fake news campaign against Chinese coronavirus vaccines through Filipino accounts in the Philippines, Philippine Defense Secretary Gilberto C. Teodoro, Jr. told a Senate foreign relations committee hearing on Tuesday.

“I really can’t speak for them, but I think that’s a long-term policy for them — that they neither confirm nor deny… things,” he said. “If it’s neither a confirmation nor denial, then the burden of proof is on the asserter to prove something.”

Reuters earlier reported at least 300 X accounts based in the Philippines discredited Chinese coronavirus vaccines during the pandemic, matching the descriptions of the vaccine by former US military officials.

In a statement last week, US Defense spokesperson Lisa Lawrence said the agency “uses a variety of platforms, including social media, to counter those malign influence attacks aimed at the US, allies and partners.” — John Victor D. Ordoñez

MNLF eyes parliamentary polls

COTABATO CITY — The political party of the Moro National Liberation Front (MNLF) on Monday applied for an accreditation from the Commission on Elections (Comelec) to participate in the first ever 2025 parliamentary elections in the Bangsamoro Autonomous Region in Muslim Mindanao.

The MNLF’s Bangsamoro Party, most known in the region as the BAPA Party, was registered at the Comelec’s central office as a regional political party more than a year ago and now has more than 200,000 members and supporters across the Bangsamoro region’s six provinces and three cities. — John Felix M. Unson

3 Dutertes to run for senator

PRESIDENTIAL PHOTO/KING RODRIGUEZ

THREE members of the Duterte clan will run for senator in the 2025 midterm elections, Vice-President Sara Duterte-Carpio said on Tuesday.

Her father ex-President Rodrigo R. Duterte, and her brothers Davao City Rep. Paolo Z. Duterte and Davao City Mayor Sebastian Z. Duterte would run for the post, she told reporters in Cagayan de Oro, based on a video posted by News 5.

“They are all raring to run,” Ms. Duterte-Carpio said in mixed English and Cebuano.

She also said Sebastian would run for President in 2028.

“My mother said my younger brother will run for president in 2028, while I will go back to being mayor of Davao City,” she added. — Kenneth Christiane L. Basilio

P6-B GSIS loans earmarked

GSIS FACEBOOK PAGE

THE GOVERNMENT Service Insurance System (GSIS) has earmarked P6 billion in emergency loans for members and pensioners affected by Mount Kanlaon’s eruption, El Niño and Typhoon Aghon, it said in a statement on Tuesday.

A total of 231,250 calamity victims will benefit from the program, the state pension fund said.

Members in Bohol, Capiz and Kalibo may apply for the loan until July 4; until July 6 for those in Cabanatuan City, Aborlan, El Nido in Palawan and Quezon Province’s first and second districts; until July 9 for San Andres in Romblon; and until July 19 for San Lorenzo, Sibunag in Guimaras, San Carlos City, San Enrique and La Castellana in Negros Occidental.

Under the loan program, members with existing loans may borrow as much as P40,000, while those with no existing loans may borrow up to P20,000.

The loan is payable in three years through 36 equal monthly installments. It carries a 6% yearly interest rate. — Aaron Michael C. Sy

Lookout order vs mayor out

PHILSTAR

THE BUREAU of Immigration (BI) will enforce an immigration lookout bulletin order issued by the Department of Justice (DoJ) against Bamban Mayor Alice L. Guo and her associates.

Immigration Commissioner Norman G. Tansingco said they received the three-page order on June 21 from Justice Secretary Jesus Crispin C. Remulla.

A precautionary hold departure order will also be filed against Ms. Guo and 17 others. The mayor has been linked to illegal offshore gaming operators in her town, an allegation that she has denied. — Chloe Mari A. Hufana

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