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Marcos to skip APEC summit after deadly storms

PPA-NOEL B. PABALATE

PHILIPPINE President Ferdinand R. Marcos, Jr. will not attend a key summit of Asia-Pacific leaders in Peru, since he would be busy with domestic concerns, the presidential palace said on Thursday.

He would skip the Asia-Pacific Economic Cooperation Leaders’ Summit — scheduled from Nov. 10-16 in Peru because he “prioritizes domestic concerns, including government responses to calamities,” Presidential Communications Secretary Cesar B. Chavez said in a Viber message.

Mr. Marcos as designated Trade Acting Secretary Cristina Aldeguer-Roque as the special envoy to the summit, the palace said.

In the summit, leaders, ministers and senior officials of the 21 APEC members, which account for half of global trade and 60% of world gross domestic product, will discuss trade and globalization policies.

The APEC members are the US, Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand, and Vietnam. — Kyle Aristophere T. Atienza

Trump return may bode well for PHL, senators say

GAGE SKIDMORE-WIKIPEDIA

TOP LAWMAKERS welcomed Donald J. Trump’s return to the White House, with Senate President Francis Joseph G. Escudero saying the United States-Philippine relations were stable under his first presidency.

“I cannot foretell what President-elect Trump may or may not do,” Mr. Escudero said. “However, our country’s relations with the US were fairly well under his presidency before, so I am hopeful that his assumption would bode well for our country.”

Mr. Trump and Democrat Kamala Harris were almost tied in opinion polls, but official election results showed the Republican candidate securing 295 electoral votes against his opponent’s 226 electoral votes in the Nov. 5 polls.

Senate Majority Leader Francis N. Tolentino said Mr. Trump’s focus on the American economy “should extend to greater stability in global affairs, which should augur well for the Philippines.”

“Ultimately, what I hope to see under ‘Trump 2.0’ is the opening of a stronger and more dynamic chapter in the enduring relations between the US and the Philippines,” he said in a statement.

Senator Juan Miguel F. Zubiri said in a statement Americans have chosen to preserve their traditional institutions and values by electing the Republican candidate.

“We can see that the United States of America has once again leaned towards Conservatism, the protection of the Family and their respect for God and Country!” Mr. Zubiri said.

“When the other camp uses abortion as a key campaign slogan and heavily using a woke agenda, then the silent majority will awaken and say enough is enough.”

President Ferdinand R. Marcos, Jr. on Tuesday said he looks forward to working with Mr. Trump on a wide range of issues that “will yield mutual benefits to two nations with deep ties, shared beliefs, common vision, and a long history of working together.”

“I am hopeful that this unshakeable alliance, tested in war and peace, will be a force of good that will blaze a path of prosperity and amity, in the region, and on both sides of the Pacific,” he added.

  The US is the Philippines’ major security partner. Last year, Manila gave Washington access to four more military bases, on top of the existing 5, under the Enhanced Defense Cooperation Agreement.

In a statement, Foreign Affairs Secretary Enrique A. Manalo said he is committed to working with his counterparts to bring the Philippines-US “alliance to even greater heights under the administration of president-elect Donald Trump.” — Kyle Aristophere T. Atienza

Sandigan junks MRs on PDAF scam

PHILSTAR FILE PHOTO

THE Philippine anti-graft court has dismissed motions for reconsideration to overturn the guilty verdicts against those involved in the misuse of the Priority Development Assistance Fund (PDAF) between 2007 and 2009, citing the lack of merit.

In a 19-page resolution promulgated on Nov. 6, the Sandiganbayan Third Division resolved multiple motions filed separately by former public officials and private individuals who participated in the diversion of about P60 million in PDAF allocated to a congressman to bogus livelihood projects.

The convicted parties sought to overturn the anti-graft court’s ruling, arguing that state prosecutors failed to establish their role in the siphoning of public funds or show they conspired with other co-accused to divert the government money.

“After due consideration of the arguments raised by the accused- movants and the prosecution, as well as the assiduous review of the records, the Court finds no compelling reason to reverse their respective convictions,” read part of the resolution penned by Associate Justice Ronald B. Moreno.

“As defined by jurisprudence, “proof beyond reasonable doubt” does not mean such degree of proof as to exclude the possibility of error and produce absolute certainty,” it added. “Only moral certainty is required or that degree of proof which produces conviction in an unprejudiced mind.” — Kenneth Christiane L. Basilio

Civil forfeiture bill filed

PHILSTAR FILE PHOTO

A BILL seeking to provide the Philippine government the authority to seize real estate properties fraudulently acquired by foreigners has been filed at the House of Representatives on Thursday.

The filing of House Bill (HB) No. 11043 comes amid a House quad committee’s investigation into illegal online casinos.

The committee last month submitted to the Office of the Solicitor General (OSG) documents showing how a Chinese national allegedly connected to illegal Philippine Offshore Gaming Operators acquired a Filipino citizenship fraudulently, allowing him to own land and set up businesses in the country.

The committee urged the OSG to start building a legal case against the implicated Chinese national, citing national security concerns and violations of Philippine laws.

“The bill seeks to provide for a civil forfeiture in favor of the State any unlawfully acquired real estate properties by any foreign national,” according to the explanatory note of HB No. 11043, which were filed by several lawmakers led by Senior Deputy Speaker and Pampanga Rep. Aurelio D. Gonzales, Jr.

Foreigners are not allowed to own Philippine lands, according to the 1987 Constitution.

Foreigners were able to skirt the land ownership restriction through their acquisition of falsified Philippine documentation, such as birth certificates, passports and driver’s licenses through “corrupt public officers,” according to the bill.

Properties allegedly obtained by any foreign national are presumed to be illegally acquired, unless proven otherwise by authorities, under the proposed law.

HB No. 11043 noted that any taxpayer could file a complaint before their city or provincial prosecutor, who will be responsible for conducting a preliminary investigation to determine its merit.

It could then be elevated for OSG action should local prosecutors find “reasonable ground” that properties in question were illegally acquired.

“The respondent foreign national shall have a period of 15 days to answer the complaint… from the receipt thereof from the city or provincial or prosecutor or the regional trial court,” Sec. 7 of the measure stated.

Properties forfeited in favor of the government will be distributed to farmers, if the estate in question is an agricultural land. Non-agricultural lands should be used for “schools, hospitals, and other establishments for socialized services,” according to the bill. — Kenneth Christiane L. Basilio

Duterte ‘red tagging’ probe pushed

FORMER PRESIDENT Rodrigo R. Duterte — OFFICIAL FACEBOOK ACCOUNT OF THE SENATE OF THE PHILIPPINES

HOUSE QUAD committee hearings should also include in its investigation ex-President Rodrigo R. Duterte’s counter-insurgency campaign, a human rights group said on Thursday, citing gross violations against political activists.

“It is high time that the quad committee takes a serious look at Duterte’s accountability for other state-sponsored killings that were very likely perpetrated by the same death squads funded by government monies,” Karapatan Secretary-General Cristina E. Palabay said in a statement, referring to a House committee investigating alleged extra-judicial killings under Mr. Duterte’s administration.

The Philippine government estimates that more than 6,000 died under the campaign, according to a Facebook infographics published in June 2022 by RealNumbersPH, which is operated by the inter-agency Committee on Anti-Illegal Drugs. Human rights groups say the death toll could be as high as 30,000.

Hundreds of activists were slain during Mr. Duterte’s administration, said Ms. Palabay, highlighting the need to investigate human rights violations against them.

“Revelations at the quad comm hearings already point to the involvement of some of Duterte’s anti-drug henchmen in perpetrating human rights violations against activists and other human rights defenders,” she said.

She cited Oplan Sauron, an internal security program meant to address “lawless violence” in Negros and Samar islands and the Bicol Region under a 2018 memorandum.

“Oplan Sauron, a bloody counter-insurgency operation jointly conducted by the military and police that was centered on Negros Island was actually framed as a plan not just against rebel groups, but criminals and individuals involved in the illegal drug trade,” she said.

Ms. Palabay said that Oplan Sauron was a “coordinate military and police operation” that “brutalized” activists, with them being tagged as members of the armed communist movement to justify their killings. — Kenneth Christiane L. Basilio

34% struggle to meet basic needs

Families enjoy a day at Luneta Park in Manila. — PHILIPPINE STAR/WALTER BOLLOZOS

FEWER families in the Philippines faced frequent struggles to meet basic needs in September 2024 compared to a year earlier, according to a survey by public opinion firm WR Numero.

The September 2024 survey showed that 34% of families reported difficulties in covering essential expenses, marking a decrease from 51% in December 2023.

It found that while 34% of Filipino families still “always” or “often” struggle to meet necessities, such as food, shelter, and transportation, 35% experienced these struggles “sometimes.”

Meanwhile, 31% said they “rarely” or “never” had difficulty meeting their families’ needs over the past three months.

Among families in Class E, 37% said they faced frequent struggles to meet their needs, followed closely by Class D families at 27%. In contrast, only 21% of Class ABC families faced such challenges. — Chloe Mari A. Hufana

PELCO II powers up mobile substation

PAMPANGA 2 Electric Cooperative (PELCO II), an electric cooperative co-managed by Manila Electric Co. (Meralco), has begun operations of its first mobile substation to meet the power demand in Mabalacat City.

The 10-megavolt ampere (MVA) mobile substation provides capacity flexibility for PELCO II’s distribution network — augmenting the existing power capacity in the city and other areas it served, Meralco said in a statement on Thursday.

“This first of its kind project is intended to ensure availability of stable electricity service to meet the growing power requirements of homes and businesses in Mabalacat City,” PELCO II Chief Management Advisor Joe-Mel S. Zaporteza said.

“We are working closely with the local government and other relevant stakeholders to continuously implement innovative solutions and projects that will benefit our consumers in the long term,” he added.

PELCO II is also developing a new 20-MVA substation which is expected to be energized early next year.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

Truck plunges into Benguet ravine, killing 1

BAGUIO CITY — A truck driver died on the spot, while his two passengers were hurt after the truck dived in a 20 meter-ravine in Upper Cotcot, Bangao, Buguias town in Benguet on Tuesday.

Buguias town police named the fatality — Denver Adcapen, 33, from Barangay Guinzadan Bauko, Mountain Province. His two passengers are recovering now.

The two passengers were immediately taken out of the wreckage and to the Lutheran Hospital in Abatan, also in Buguias. Rescuers had difficulties in removing the driver pinned down at the front seat of the truck.

Probers added that the vehicle’s front landed first before it slid further down the ravine.

The truck reportedly suffered a mechanical defect. — Artemio A. Dumlao

BARMM officials destroy P55-M confiscated drug

LOREN BISER-UNSPLASH

COTABATO CITY — Officials of law-enforcement agencies destroyed P55 million worth of confiscated crystal meth (shabu) in a power-generation incinerator of a private cornstarch factory in Sultan Kudarat, Maguindanao del Norte on Wednesday.

The symbolic destruction of some nine kilos of shabu at the power plant of the Lamsan Incorporated in Crossing Simuay in Sultan Kudarat was led by Gil Cesario P. Castro, director of the Philippine Drug Enforcement Agency-Bangsamoro Autonomous Region in Muslim Mindanao (PDEA-BARMM), local officials and Cotabato City’s prosecutor, Mariam April V. Mastura.

Mr. Castro told reporters that the drugs destroyed were seized during PDEA-BARMM and police operations in the past 24 months.

PDEA agents told reporters at the sideline of Wednesday’s activity that local executives in BARMM have supported extensively their entrapment operations, many of which were laid based on their tips about drug trafficking activities of their own constituents. — John Felix M. Unson

Baguio turns parks into museums, galleries

BAGUIO CITY — The Baguio City government is putting up artworks by local artists in various parks and open spaces turning these into outdoor museums and galleries as it seeks to further bolster the Summer Capital’s reputation as a haven for artists and art lovers.

This is similar to the ‘Igobots,’ which are four sculptures using recycled materials situated at the Post Office Park and lower Session Road, City Environment and Parks Management Office (CEPMO) head Atty. Rhenan G. Diwas explained.

“The project is part of the city’s creative crawl where its parks are transformed from being not only open spaces and green areas but also serve as outdoor museums and galleries for local artists,” Mr. Diwas said.

The parks management chief also said that sculptures, mostly made of stone, can also be seen at the Baguio City Hall Park, Rizal Park, and the Botanical Garden.

Mr. Diwas also invited artists to submit proposals for outdoor art installations at Sunshine Park, Wright Park, Mines View, Arboretum and other similar places in the city.

“Developments in these areas will include the art installations,” he added. — Artemio A. Dumlao

PSEi drops to 7,000 level on Trump win, GDP miss

BW FILE PHOTO

THE BENCHMARK INDEX plunged to the 7,000 level and hit a near two-month low on Thursday following slower-than-expected Philippine economic growth in the third quarter and as Republican Donald J. Trump won the US presidential election.

The Philippine Stock Exchange index (PSEi) dropped by 2.1% or 150.98 points to end at 7,014.44 on Thursday, while the broader all shares index went down by 1.97% or 78.33 points to 3,891.64.

This was the PSEi’s worst finish in nearly two months or since it ended at 6,944.88 on Sept. 11. The benchmark index also dropped below 7,000 intraday, hitting a low of 6,923.99.

“The local market plunged this Thursday. Investors priced in the negative implications of US protectionist policies on the global economic outlook as Mr. Trump wins the US presidential race,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Also weighing on investor sentiment was the slowdown in the Philippines’ third quarter gross domestic product (GDP) growth to 5.2%,” he added.

The Philippine economy expanded by 5.2% in the third quarter, slower than the revised 6.4% expansion in the second quarter and the 6% print in the same period last year. This was below the 5.7% median GDP growth forecast in a BusinessWorld poll of 12 analysts.

“Philippine shares slid anew as the third-quarter GDP figures came in much lower than expected at just 5.2%. Though private consumption continued to pick up, fixed investment and government consumption weakened as exports further declined,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Meanwhile, US stocks rallied sharply on Wednesday, with major benchmarks hitting record highs following Donald Trump’s victory in the 2024 presidential election. Mr. Trump is perceived as favoring lower corporate tax rates, deregulation, and pro-domestic industrial policies, all of which could stimulate the US economy and benefit risk assets.”

Almost all sectoral indices closed lower. Property went down by 3.93% or 108.90 points to 2,656.43; mining and oil declined by 2.59% or 219.83 points to 8,262.81; industrials retreated by 2.25% or 224.45 points to 9,712.17; financials dropped by 2.1% or 49.09 points to 2,282.48; and holding firms decreased by 1.9% or 116.86 points to 6,015.38.

Meanwhile, services inched up by 0.04% or 1.07 points to 2,163.43.

Value turnover increased to P9.72 billion on Thursday with 1.11 billion shares traded from P4.66 billion with 1.34 billion issues changing hands on Wednesday.

Decliners overwhelmed advancers, 167 versus 46, while 40 names were unchanged.

Net foreign selling ballooned to P3.9 billion on Thursday from P1.12 billion on Wednesday. — Revin Mikhael D. Ochave

Peso weakens further as Philippine economic growth slows in Q3

BW FILE PHOTO

THE PESO depreciated further against the dollar on Thursday due to slower-than-expected Philippine gross domestic product (GDP) growth last quarter.

The local unit closed at P58.73 per dollar on Thursday, declining by 6.9 centavos from its P58.661 finish on Wednesday, Bankers Association of the Philippines data showed.

This was the peso’s weakest close in over four months or since its P58.795-a-dollar finish on July 2.

The peso opened Thursday’s session weaker at P58.80 against the dollar. Its intraday best was at P58.68, while its worst showing was at P58.805 versus the greenback.

Dollars exchanged went down to $1.57 billion on Thursday from $1.91 billion on Wednesday.

“The dollar-peso consolidated with an upward bias, triggered by lower-than-expected third-quarter GDP data,” a trader said by phone.

The Philippine economy grew by 5.2% in the third quarter, slower than the revised 6.4% expansion in the second quarter and the 6% print in the same period last year. This was below the 5.7% median GDP growth forecast in a BusinessWorld poll of 12 analysts.

In the first nine months, GDP growth averaged 5.8%, below the government’s 6-7% annual target. The economy now needs to expand by 6.5% in the fourth quarter to meet this goal.

The peso declined as the dollar was generally stronger after Republican Donald J. Trump won the US presidential election, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message.

For Friday, the trader said the peso could move between P58.50 and P58.80 per dollar, while Mr. Ricafort sees it ranging from P58.60 to P58.80.

The dollar edged lower on Thursday after hitting a four-month high following Mr. Trump’s win in the US presidential election, while investors awaited policy decisions from the Federal Reserve and other central banks, Reuters reported.

The Fed was expected to cut interest rates by 25 basis points later in the day, and the market’s focus will be on any clues suggesting the US central bank could skip a cut in December.

Mr. Trump’s victory was also fueling speculation that the Fed might reduce rates at a slower and shallower pace, as his policies on restricting illegal immigration and enacting new tariffs could boost inflation.

Markets now see about a 67% chance the Fed will also cut rates next month, down from 77% on Tuesday, according to the CME Group’s Fed Watch Tool.

The dollar index, which measures the greenback against six major peers, dropped 0.16% to 104.94 after surging to its highest since July 3 at 105.44 and locking in its biggest single-day gains since September 2022 in the previous session.

The yen fell against the greenback to a three-month low of 154.715 — a decline that had Japan’s top currency diplomat Atsushi Mimura flagging readiness to act, marking the government’s strongest warning to speculators in recent months.

The Japanese currency was last 0.36% higher at 154.09 per dollar. — A.M.C. Sy with Reuters