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World Trade Center says MICE industry long underrated within tourism sector 

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THE meetings, incentives, conferences, and exhibitions (MICE) industry needs to be recognized as more than a subset of tourism because of its potential for making an outsized contribution to the recovering economy, exhibition venue operator World Trade Center Metro Manila (WTCMM) said.

The exhibition industry plays “a vital role in the economic recovery by providing a fast track for companies in the business-to-business space,” WTCMM Chair and Chief Executive Officer Pamela D. Pascual said in a statement on Thursday.

Ms. Pascual added that “our role in promoting international trade” involves “providing a venue for Filipino exporters to showcase Philippine world-class products… without them having to travel overseas.”

The WTCMM said that companies from China, Japan, Taiwan, and South Korea typically participate in Philippine trade shows.

“Long treated as a sub-sector of tourism, MICE has been drawing attention as a high value-added industry by itself. A MICE delegate spends as much as 6x per day compared to what an average leisure tourist spends,” the WTCMM said.

“Business events are made meaningful when they attract foreign participants, (helping) promote world-class products and brand awareness in select and preferred markets, giving buyers the opportunity to interact with sellers… On-site sales and bookings boost business and often benefit buyers with a host of concessions,” it added.

The WTCMM pushed for more large-scale suitable venues to meet surging demand from foreign markets.

The MICE industry is estimated to contribute between 0.004% and 0.87% to gross domestic product, according to a study conducted by the Philippine Association of Convention Exhibition Organizers and Suppliers, Inc.

The WTCMM is a member of the World Trade Centers Association based in New York, which has a global network of over 300 trade centers worldwide.  — Revin Mikhael D. Ochave

Food fair expected to generate P28.27 million worth of sales

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THE Department of Trade and Industry (DTI) said its estimate for potential sales generated during the five-day 2023 National Food Fair was P28.27 million.

In a statement on Thursday, the DTI said that the total represents cash, booked, and under-negotiation sales posted by the 268 onsite exhibitors during the fair, which ran between July 12 and 16. The fair attracted over 29,000 people, it said, citing preliminary reports.

Trade Secretary Alfredo E. Pascual said during the opening ceremony that the fair was a venue for micro-, small-, and medium-sized enterprises (MSMEs) to expand their market reach.

 “The DTI’s goal is to spur an entrepreneurial revolution and encourage the growth of MSMEs through market access programs using e-commerce and digitalization initiatives,” Mr. Pascual said.

The fair was organized by the Bureau of Domestic Trade Promotion and the Regional Operations Group. It had a simultaneous online version on Lazada that had over 100 exhibitors. Other platforms such as Shopee and TikTok also gave promotional support for the fair. — Revin Mikhael D. Ochave

Index rises to 6,600 level amid gains on Wall St.

REUTERS

PHILIPPINE SHARES continued to climb on Thursday, getting a boost from gains on Wall Street overnight and improved prospects for the economy.

The Philippine Stock Exchange index (PSEi) rose by 71.59 points or 1.09% to 6,613.50 on Thursday, while the broader all shares index went up by 25 points or 0.71% to 3,515.91.

“The local market climbed this Thursday by 71.59 points (1.09%) to 6,613.50 as investors took cues from Wall Street’s positive performance overnight amid optimism towards second quarter corporate results in the US. At home, the strong second-quarter earnings report from BPI (Bank of the Philippine Islands) also sparked hopes towards the Philippine corporate sector’s earnings season,” Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.

“Moreover, ADB’s (Asian Development Bank) projection that the Philippines will be the fastest growing economy for 2023 and 2024 in Southeast Asia boosted sentiment,” Mr. Plopenio added.

Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message that the PSEi rose as stronger-than-expected earnings created “optimism for a soft landing for the economy.”

The Dow Jones Industrial Average and S&P 500 index rose modestly on Wednesday, with the blue-chip Dow registering its eighth straight day of gains as investors gauged the latest round of corporate earnings, but a decline in Microsoft held the Nasdaq near the unchanged mark, Reuters reported.

The Dow Jones Industrial Average rose 109.28 points or 0.31% to 35,061.21; the S&P 500 gained 10.74 points or 0.24% to 4,565.72; and the Nasdaq Composite added 4.38 points or 0.3% to 14,358.02.

Meanwhile, BPI saw its net income rise by 4.5% year on year to P13 billion in the second quarter amid an increase in revenues, it said on Thursday.

The bank’s shares rose by P1.10 or 0.97% to close at P114.50 apiece on Thursday.

On the other hand, the ADB said in its Asian Development Outlook released on Wednesday that it kept the 6% gross domestic product (GDP) growth projection for the Philippines for 2023, and 6.2% for 2024.

All sectoral indices went up on Thursday except for services, which fell by 4.25 points or 0.26% to 1,581.80.

Meanwhile, financials jumped by 35.86 points or 1.89% to 1,927.90; property climbed by 34.16 points or 1.28% to 2,687.90; holding firms went up by 68.39 points or 1.07% to 6,437.84; industrials increased by 40.76 points or 0.43% to 9,317.58; and mining and oil rose by 49.09 points or 0.49% to 10,011.44.

Value turnover climbed to P4.52 billion on Thursday with 518.55 million shares changing hands from the P3.66 billion with 489.05 million issues seen on Wednesday.

Advancers outnumbered decliners, 99 versus 81, while 44 names closed unchanged.

Net foreign buying rose to P419.79 million on Thursday from the P43.99 million seen on Wednesday. — AHH with Reuters

Peso inches lower vs dollar due to lingering recession concerns

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THE PESO inched lower against the dollar on Thursday amid lingering recession fears as the Chinese central bank held its key lending rates steady despite weaker-than-expected economic growth last quarter.

The local currency closed at P54.52 versus the dollar on Thursday, down by half a centavo from Wednesday’s P54.515 finish, data from the Bankers Association of the Philippines’ website showed.

The local unit opened Thursday’s session at P54.55 per dollar. Its weakest showing was at P54.56, while its intraday best was at P54.37 against the greenback.

Dollars traded went up to $1.14 billion on Thursday from the $1.05 billion seen on Wednesday.

“The peso continued to weaken amid lingering recession concerns after the Chinese central bank decided to keep its key prime lending rates steady despite weaker-than-expected economic growth in the second quarter,” a trader said in an e-mail.

China left its lending benchmarks unchanged on Thursday, after the central bank stood pat on a key policy rate earlier this week even as signs of a faltering economic recovery called for more stimulus, Reuters reported. The one-year loan prime rate (LPR) was kept at 3.55%, while the five-year LPR was unchanged at 4.2%.

China’s gross domestic product (GDP) grew just 0.8% in April to June from the previous quarter, on a seasonally adjusted basis, data released by the National Bureau of Statistics showed on Monday.

On a year-on-year basis, GDP expanded 6.3% in the second quarter, accelerating from 4.5% in the first three months of the year.

The peso slipped on expectations of another 25-basis-point (bp) rate hike from the US Federal Reserve next week, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The US central bank will hold its policy meeting on July 25-26.

The Fed paused its tightening cycle in June after hiking its benchmark rate by a cumulative 500 bps to a range between 5% and 5.25%.

For Friday, the trader said the peso could weaken further due to expectations of higher US jobless claims.

Both the trader and Mr. Ricafort see the peso moving between P54.40 and P54.60 per dollar on Friday. — AMCS with Reuters

Manila won’t deal with ICC anymore after decision to continue drug probe

PHILIPPINE STAR/ MIGUEL DE GUZMAN

THE PHILIPPINES would no longer engage with the International Criminal Court (ICC), the solicitor general said on Thursday, days after it rejected a plea to suspend its investigation of the government’s deadly war on drugs.

The decision was approved by President Ferdinand R. Marcos, Jr., Solicitor General Menardo I. Guevarra told reporters.

“I have discussed this matter personally with President Bongbong Marcos and we have agreed that our appeal to the ICC appeals chamber is the end of our engagement with the ICC,” he said. “We just really waited for the decision that we nearly won, 3-2.”

The ICC on Tuesday rejected a Philippines appeal to suspend its probe of ex-President Rodrigo R. Duterte’s war on drugs, paving the way for its prosecutor to later indict and order the arrest of local officials who aided the campaign.

In a court session in the Hague streamed live on the ICC website, Appeals Chamber Presiding Judge Marc Perrin de Brichambaut read the decision that said the pre-trial chamber was right in allowing ICC Prosecutor Karim Ahmad A. Khan to resume his probe of the drug war that had killed thousands.

Magistrates voted 3-2 in favor of the investigation, he added.

In March, the United Nations-backed court based in the Hague denied the government’s request to stop the ICC Pre-Trial chamber from reopening its investigation of Mr. Duterte’s anti-illegal drug campaign.

The ICC said its investigation should not prevent the state from continuing its own probe of rogue cops in its deadly drug war.

Mr. Guevarra told reporters in a Viber message on Sunday officials who get indicted would have to hire their own lawyers, noting that his office would only represent the state at the hearings.

He said the Philippines would assert its sovereignty and focus on its own investigation and prosecution of alleged abuses related to the anti-illegal drug campaign.

Last year, Mr. Marcos Jr. said the Philippines would not rejoin the ICC, which political experts said is meant to protect his predecessor from prosecution.

Mr. Duterte canceled the country’s ICC membership in 2018.

The ICC Pre-Trial Chamber in January reopened its probe of Mr. Duterte’s campaign against illegal drugs, saying it was not satisfied with government efforts to probe human rights abuses.

It was also set to probe vigilante-style killings in Davao City when the former president was still its vice mayor and mayor.

Mr. Marcos should support accountability for grave crimes in the Philippines and uphold the country’s obligation under the ICC’s founding Rome Statute to cooperate with the court, Human Rights Watch said after the decision.

“The ICC Appeals Chamber decision rejects Philippine government claims that the ICC should not investigate in the country,” Bryony Lau, deputy Asia director at Human Rights Watch, said in a statement. “President Marcos should back up his stated commitment to human rights by cooperating with the ICC prosecutor’s inquiry.”

‘BEFUDDLED’
Human Rights group Karapatan said it was crucial for international bodies such as the ICC to seek accountability since the local justice system is ineffective.

“It is high time that the ICC investigation proceeds without a hitch so that the victims of Duterte’s bloody anti-drug war can finally tread the road towards justice and accountability,” it said in a statement.

On Feb. 16, Mr. Khan told the ICC the Philippines had not raised new arguments to justify halting the probe, adding that the Duterte government had condoned crimes committed during the drug war.

Mr. Guevarra, who was Mr. Duterte’s Justice secretary, earlier said the country is not legally and morally bound to cooperate with the ICC.

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.

Senator Ramon “Bong” Revilla, Jr. defended Mr. Duterte and fellow Senator Ronald “Bato” M. dela Rosa, who enforced the anti-illegal drug campaign when he was still the national police chief, saying Filipinos credit it for restoring peace and order.

“We won’t allow what is clearly meddling by the ICC with our nation’s affairs,” he said in a statement in Filipino. “We do not need to remind them that we are a free, independent and sovereign nation governed by our laws.”

The lawmaker said he was “befuddled by the ICC’s pursuit of this obvious baseless persecution while legitimate concerns and crimes against humanity are being perpetrated in other parts of the world as speak.”

Senate President Juan Miguel “Migz” F. Zubiri said the chamber would extend protection over members and would not surrender its integrity and independence “especially to foreign interests.”

Ephraim B. Cortez, president of the National Union of Peoples’ Lawyers said that the ICC is not overstepping their boundaries, adding that certain Philippine officials were not being singled out.

“It is also obvious that there was no honest-to-goodness investigation of the killings, and Bato and Duterte have never been investigated, warranting the exercise by the ICC of jurisdiction,” he said in a Facebook Messenger chat.

Mr. Cortez also noted that Mr. Revilla was among the senators who voted to ratify the ICC charter in 2011. “He and the other senators who voted with him should know that a sitting or former president, or any official of the Philippine government could be prosecuted before it.”

Anna Rosario Malindog-Uy, a political analyst at Philippine BRICS Strategic Studies, said Filipinos would never allow the ICC to meddle in Philippine affairs.

“The fight against illegal drugs during the time of [President Duterte] should never be considered a crime against humanity because it is considered a legitimate police action,” she said in a Viber message. — Norman P. Aquino and Jan Jiminel Cacdac

Marcos orders agencies to improve seaman training

SEAFARER OATHTAKING — MARINA.GOV.PH

PRESIDENT Ferdinand R. Marcos, Jr. on Thursday urged state agencies concerned with the maritime industry to bolster ties with the Philippine Merchant Marine Academy (PMMA) to improve local seafarer training and education.

“Facilitate what will make our maritime education even more responsive to the needs of the nation, while ensuring that whatever steps that we take will be in compliance with laws and regulations,” he said at the 200th commencement exercises of the PMMA in Zambales streamed live on Facebook.

“As your partner in improving the skills and capabilities of our people in the maritime industry, I call on all concerned agencies to coordinate closely with the PMMA.”

He added that support from the private sector would also help modernize the maritime education sector.

Last month, the president urged the Maritime Industry Authority and Commission on Higher Education to work closely with the shipping industry in upskilling and reskilling Filipino seamen.

During his presidential campaign, Mr. Marcos Jr. promised to develop the local maritime sector and make the Philippines a logistics hub.

CHED Chairman Prospero E. De Vera III said in April they would put on hold the introduction of new maritime training programs in the next five years to allow agencies to focus on improving existing courses.

“We have to ensure that all maritime schools have the equipment and competent teachers so we can satisfy the standards of the European Commission (EC),” he told a palace briefing on April 11.

CHED had to close 15 maritime schools in the past year-and-a-half for failing to meet the country’s education standards, Mr. De Vera said.

The European Commission (EC) in April decided to continue recognizing certificates issued by the Philippines to Filipino seafarers, acknowledging state efforts to improve its seafarer training system.

Last year, the commission said almost 50,000 Filipino seafarers working in European vessels could lose their jobs if the Philippines does not address its deficiencies.

Marina Administrator Hernani N. Fabia has said his agency would continue providing upskilling and reskilling programs for Filipino seafarers, adding that the European Commission’s decision gave the country a “clean slate” to improve its training programs.

The European Maritime Safety Agency raised issues about the country’s compliance with European Union standards after an inspection in March 2020.

A year later, the EC warned the Philippine government that it would withdraw recognition of Filipino seafarers’ certificates if it did not address deficiencies in training Filipino seamen.

Sea-based Filipino workers sent home $506 million in May, 2.4% higher than a year earlier, the Bangko Sentral ng Pilipinas said on Monday. — John Victor D. Ordoñez

Marcos more concerned about rebranding of family name than policy reforms — analysts

PPA POOL

THE GOVERNMENT of President Ferdinand R. Marcos, Jr. appears more concerned about the rebranding of his family name rather than policy reforms, political analysts said on Thursday.

“There was a failure on his part to address our most urgent issues,” Temario C. Rivera, chairman of think tank Center for People Empowerment in Governance (CenPEG), told a forum.

Presidential Communications Office chief Cheloy Velicaria-Garafil did not immediately reply to a Viber message seeking comment.

The president had been “overly fixated on rebranding the family image,” he said, citing the revival of projects associated with his father, the late dictator Ferdinand E. Marcos, Sr. Including Masagana 99, Kadiwa Program and Bagong Pilipinas rebranding.

He added that Mr. Marcos Jr. had attempted to “negotiate a careful balance” between his father’s legacy with that of former President Rodrigo R. Duterte, who played a key role in his landslide victory last year.

CenPEG Director for Policy Studies Bobby M. Tuazon said there was nothing new with the president’s foreign policy. “It is basically a continuation of Philippine foreign policy seen in the last 70 years,” he said, citing its focus on ties with the United States.

Mr. Marcos in February gave the US access to four more military bases under the Enhanced Defense Cooperation Agreement (EDCA), which was built on the 1951 Mutual Defense Treaty and the 1999 visiting forces agreement between the Philippines and US.

Mr. Tuazon said the defense alliance with the US is dragging the Philippines to an unwanted war with China.

Mr. Rivera also cited bureaucratic inefficiency as well as the involvement of police in a P6.7-billion haul of crystal meth. “Without the support of critical institutions, the President can do little,” he added.

He also raised low utilization of funds in most government agencies, “They could have used it for very urgent social needs of the people.”

Maragtas SV Amante, former dean of the University of the Philippines School of Labor and Industrial Relations, noted that while the unemployment rate has eased to 4.3%, job quality leaves a lot to be desired, while many workers have been contractualized.

The jobless rate was 14.2% last year, 15.9% in 2021 and 16.2% in 2020, according to the local statistics agency. — Beatriz Marie D. Cruz

SC junks lawsuit against local sewerage system

PHOTO BY MIKE GONZALEZ

THE SUPREME COURT (SC) has affirmed a ruling that dismissed a lawsuit filed by a civic group seeking to protect public health from the supposed operation of a sewerage system by the country’s main water providers.

In a 19-page decision on March 28 and made public on July 20, the tribunal agreed with the Court of Appeals finding that Water for All Refund Movement, Inc. (WARM) had failed to prove that the combined drainage-sewerage system of Manila Water Co., Inc. and Maynilad Water Services, Inc. would damage the environment.

It affirmed the denial of the group’s application for a so-called writ of kalikasan. The High Court said the group had failed to prove the operation of the drainage system.

“WARM then sidestepped its obligation to substantiate its allegations by invoking the precautionary principle, specifically the stringent requirement to prove environmental damage,” according to the ruling penned by Associate Justice Ramon Paul L. Hernando.

Based on the court’s Rules of Procedure for environmental cases, the precautionary principle prioritizes the right to a balanced and healthful ecology even if there is no full scientific certainty about a link between human activity and environmental damage.

The tribunal said WARM’s petition had failed to provide both a sewerage system’s link to environmental damage and scientific studies supporting its claim.

It added that implementing the system was not illegal under the Philippine Clean Water Act.

The environmental watchdog group sought the writ over the sewerage system citing the water concessionaires’ failure to secure permits from the Department of Health and the Department of Environment and Natural Resources.

It said the project could result in environmental damage and could pose a danger to the health of residents of Metropolitan Manila.

WARM argued the combined drainage system could cause raw sewage and rainwater to pollute natural bodies of water.

“WARM only speculates on the environmental damage resulting from the purported discharge of “sewage-contaminated floodwater,” the tribunal said.

“It did not even provide specific scenarios with specific evidence or a survey of references and literature on the subject.” — John Victor D. Ordoñez

Activists’ properties seized

BAGUIO CITY — Authorities have seized the properties of four activists in the Cordillera region in northern Philippines after the Anti-Money Laundering Council (AMLC) ordered a freeze on their assets and bank accounts. 

The Anti-Terrorism Council (ATC) on June 7 labeled four leaders of the left-leaning indigenous group Cordillera Peoples Alliance terrorists. 

The activists received the AMLC freeze order on July 12. 

AMLC also ordered covered institutions “to submit suspicious transaction reports of all previous transactions of the designated persons,” while warning that people and offices that fail to abide by its order “shall be prosecuted to the fullest extent of the law.” 

The council has labeled 32 people terrorists for their alleged connection to the Maoist group, which it considers a terrorist group.  

Karapatan has denounced the labeling, calling it harassment. — Artemio A. Dumlao

ABMAP backs PUV upgrade 

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THE AUTOMOTIVE Body Manufacturers Association of the Philippines (ABMAP) said the country’s public utility vehicle (PUV) modernization program will help benefit commuters and generate jobs for vehicle body makers.   

“The ABMAP supports the PUV modernization program because it benefits the economy, creates jobs, improves passenger safety and comfort and reduces emissions,” it said in a statement on Thursday. “The program ensures that drivers have access to social welfare benefits and can afford to pay for their PUVs.” 

With more than 80% of modern PUVs in the Philippines locally made, the program also helps generate jobs for body builders and other industries, it added.   

ABMAP aid new PUVs are built to international standards and adhere to the Bureau of Philippine Standards-Philippine National Standards, adding that these PUVs are safer and more reliable than the old jeepneys.   

Transport groups are expected to hold a three-day strike starting on July 24 to protest the modernization plan. — Revin Mikhael D. Ochave

Mayor hurt in road accident 

COTABATO CITY — A municipal mayor in Cotabato province was badly hurt in a road accident in Digos City on Wednesday, police said. 

Five other people, two of them grade school children, were also injured. 

Lieutenant Colonel Hamlet M. Lerios, chief of the Digos City Police Station, told reporters late Wednesday Pigcawayan Mayor Juanito C. Agustin had lost control of the Nissan pick-up truck he was driving, hitting a center island at a stretch of the Cotabato-Digos Highway in the village of Tres de Mayo. 

The mayor’s spouse Nancy, 42, their nine-year-old child, and three others, were also hurt in the highway mishap. 

The injured mayor was unconscious when policemen rushed him to a hospital, Mr. Lerios said. 

He has since regained consciousness, relatives and local government officials told reporters on Thursday. — John Felix M. Unson

Ilocos recycling facility to open 

BAGUIO CITY — The Plastic Recycling and Materials Recovery Facility, a project of the Department of Environment and Natural Resources-Environmental Management Bureau and the Ilocos Norte provincial government in Marcos, Ilocos Norte will soon start operations. 

In a statement, the provincial government said the P25-million project is part of efforts to promote environmental protection, noting that plastic waste contributes to the global environmental crisis. 

Ilocos Norte tapped the Environmental Management Bureau to invest in the development of a state-of-the-art facility that uses advanced technology to revolutionize plastic recycling, Ilocos Norte Governor Matthew Marcos-Manotoc said. 

The facility is equipped with a plastic washer and dryer, a shredding machine with conveyor, a pulverizing machine, an extruder for the manufacture of chairs, tables and flowerpots, as well as a plastic melting factory set. 

The recycling facility is the province’s “commitment to combating plastic waste and advancing the circular economy by serving as the processing site for the biodegradable and residual wastes generated from some of the towns in Ilocos Norte and turning them into usable products,” he added. — Artemio A. Dumlao

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