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RELX to ‘work closely’ with DTI for stricter vape products sale

PHILIPPINE STAR/EDD GUMBAN

VAPE manufacturer RELX said it is collaborating with the Department of Trade and Industry (DTI) to tighten monitoring efforts on the sale of vape products in the Philippines.

“We will work closely with the DTI to identify and address any instances of non-compliance by vape product sellers,” RELX International External Affairs Head Patrick C. Drilon said in a statement on Tuesday.

Mr. Drilon said this after Trade Secretary Alfredo E. Pascual ordered the strict monitoring of sellers of vape products to ensure that the restrictions under Republic Act No. 11900, or the Vaporized Nicotine and Non-Nicotine Products Regulation Act, are being observed.

The law sets guidelines and restrictions on the sale and distribution of vape products in the Philippines.

“RELX actively cooperates with government authorities to ensure the effective implementation of RA 11900. RELX fully supports government authorities in their efforts to enforce selling regulations and take necessary actions against any violations,” Mr. Drilon said.

Previously, the DTI announced that it had confiscated 13,784 vape products worth P4.25 million from noncompliant vape stores, while it issued notices of violation to 72 firms.

It said most of the violations were related to rules on product packaging requirements; sale of vaporized nicotine and non-nicotine products, their devices, or novel tobacco products; restrictions on product communication, advertisements, and sponsorships; and prohibition on the use of nicotine and non-nicotine products in public places.

Mr. Drilon said RELX supports efforts to stop the illicit trade of vapor products, adding that consumer safety is a “top priority” of the company.

“RA 11900 plays a crucial role in ensuring the safe sale of vape products in the country,” Mr. Drilon said.

“We laud and support the efforts of the DTI in monitoring and ensuring that all sellers of vape products comply with the stipulated rules and regulations,” he added. — Revin Mikhael D. Ochave

How PSEi member stocks performed — June 13, 2023

Here’s a quick glance at how PSEi stocks fared on Tuesday, June 13, 2023.


Philippine stocks climb before US inflation data

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PHILIPPINE SHARES barely moved on Tuesday as investors await US inflation data for April that could dictate the US Federal Reserve’s monetary policy move.

The benchmark Philippine Stock Exchange index (PSEi) inched up by 0.002% or 0.11 point to close at 6,507.26. The broader all-share index slid by 0.25% or 8.93 points to 3,467.25.

“The index ended the day flat but with increased value turnover as investor sentiment was at an equilibrium between bargain hunters and cautious traders ahead of US May inflation data,” Juan Paolo E. Colet, managing director at China Bank Capital Corp., said in a Viber message.

“The market would want to see continued deceleration in US inflation figures, which could give the Fed leeway to forego any rate hikes in the near term,” he added.

Many investors were waiting for US inflation data, “which would likely determine market sentiment,” Luis A. Limlingan, head of sales at Regina Capital Development Corp., said in a Viber message.

The June Federal Open Market Committee meeting will happen this week and it is expected to come out with a statement on Wednesday.

“Back at home, the key economic releases for this shortened week are the March foreign direct investments on June 13 and April cash remittances on June 15,” he added.

The US Fed raised it benchmark overnight interest rates by 25 basis points (bps) at its policy meeting last month. It has raised fund rates by 500 bps since March 2022 to 5%-5.25%. Its next policy meeting is set for June 13-14.

Back home, majority of sectoral indices fell on Tuesday.  Services went up by 0.13% or 2.11 points to 1,543.87, while holding firms rose by 0.12% or 7.93 points to 6,483.17.

Meanwhile, industrials fell by 0.62% or 57.79 points to 9,209.04; mining and oil slid by 0.45% or 46.42 points to 10,064.59; financials declined by 0.26% or 4.82 points to 1,841.59; and property fell by 0.005% or 0.14 points to 2,626.84.

Value turnover inched down to P5.51 billion, with 517.1 million shares changing hands.

Decliners outnumbered advancers 127 versus 68, while 43 stocks were unchanged.

Net foreign selling increased to P217.41 million from P202.11 million on Friday. — AHH

Peso rises on Fed bets, easing US inflation

BW FILE PHOTO

THE PESO strengthened against the dollar on Tuesday as the market looked to the US Federal Reserve’s next policy move amid an expected easing in inflation.

It closed at P55.95 a dollar, up by 10 centavos from Friday’s P56.05 finish, data from the Bankers Association of the Philippines’ website showed.

The currency opened at P56.09 a dollar. It weakened to as much as P56.13 and strengthened to as much as P55.93 a dollar.

Dollars traded dipped to $834.75 million from $979.2 million on Friday.

“The peso appreciated due to expectations of a likely weaker US consumer inflation report for May 2023,” a trader said in an e-mail.

It was expected to ease to 4.1% from 4.9% in April, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a Viber message.

The peso also appreciated after the dollar fell against other currencies ahead of a possible pause in the Fed’s tightening cycle that could be matched locally, he said.

The dollar edged broadly lower on Tuesday but traded in a narrow range, as investors remained cautious ahead of key US inflation data due later in the day just as the Federal Reserve kicks off its two-day monetary policy meeting, Reuters reported.

The US dollar index fell by 0.17% to 103.40, languishing near Monday’s trough of 103.24, its lowest since May 23.

The US central bank raised borrowing costs by 25 basis points (bps) last month, bringing the Fed fund rate to 5-5.25%. It has increased borrowing costs by 500 bps since March 2022.

The Federal Open Market Committee will review policy on June 13-14.

Mr. Ricafort said the US consumer price index (CPI) is expected to ease to 4.1% in May from the 4.9% in April.

Meanwhile, the Bangko Sentral ng Pilipinas (BSP) paused its aggressive monetary tightening last month and signaled it would hold its key rate at its next two to three meetings.

The BSP has raised policy rates by 425 bps since May 2022. The Monetary Board will review policy on June 22. 

The peso was also supported by lower global crude oil prices recently, Mr. Ricafort added.

Oil prices traded up on Tuesday on bargain hunting, recovering some ground from the previous day’s plunge, but gains were limited as investors remained cautious ahead of key policy decisions by the US Federal Reserve and other central banks.

Brent crude futures climbed 77 cents or 1.1% to $72.61 a barrel by 0640 GMT. US West Texas Intermediate (WTI) crude was at $67.68 a barrel, up 56 cents or 0.8%.

Both benchmarks fell around $3 a barrel on Monday after analysts highlighted rising global supplies and concerns about demand growth just ahead of key inflation data and a two-day Fed monetary policy meeting concluding on Wednesday.

For Wednesday, the trader said the peso could strengthen further on expectations of a subdued US producer inflation report.

Both the trader and Mr. Ricafort sees the peso trading from P55.85 to P56.05 a dollar. – Aaron Michael C. Sy

Food stamp pilot run gets the nod; lactating mothers among priorities

A MOTHER holds her newborn after giving birth at a temporary field hospital set up in the island province of Dinagat in the aftermath of Typhoon Odette (international name: Rai) in December 2021. — DINAGAT ISLAND PIO

PRESIDENT Ferdinand “Bongbong” R. Marcos, Jr. wants lactating mothers and single parents to be among the beneficiaries of the social protection agency’s food stamp program, which he has approved for a pilot run with funding from multilateral and foreign government aid agencies.

“The President approved the run of the pilot, which is fully funded through grants,” Social Welfare Secretary Rexlon T. Gatchalian told a news briefing on Tuesday after a Cabinet meeting with Mr. Marcos Jr.

He said the grants will come from the Asian Development Bank (ADB), Japan International Cooperation Agency, and the French Development Agency.

“So, that will be $3 million all in all.”

Mr. Gatchalian said the government is still eyeing to expand the pilot run.

“The ABD is still working on another trust fund so that we can expand the pilot,” he said. “But other than that, it’s all green light, go na for the pilot which will take place shortly.”

Under the program, the social welfare department will release electronic cards with food credits worth P3,000. The cards can be used by beneficiaries to buy a “select list” of food commodities from accredited sellers.

Last month, Mr. Gatchalian said the food stamp program will be tested in July in sites with different geopolitical characteristics, including an area in the Bangsamoro region in southern Philippines. It will also be tested in remote provinces, in an urban poor setting, in a calamity-stricken area, and in a rural poor area, he said at that time.

At the Tuesday Cabinet meeting, the president specifically asked the Department of Social Welfare and Development (DSWD) to ensure that pregnant and lactating mothers and single parents will benefit from the program, Mr. Gatchalian said.

“Aside from the target beneficiaries of bottom one million households, the President wanted to make sure that single parents, and pregnant and lactating women will be included to address the first 1,000 days advocacy,” the DSWD chief said in mixed English and Filipino.

He said the first 1,000 days from pregnancy until lactation is a “crucial period” as it could cause irreversible effects on a child’s health, noting that studies showed that stunting already happens by the time some children reach daycare.

Mr. Gatchalian said there are already existing government programs that focus on the first 1,000 days of a child. “But what the President wants is for us to synchronize these programs.”

He cited the World Bank-backed Philippine Multi Sectoral Nutrition Program, which was launched more than two months ago. The four-year program is financed by a $178.1-million or about P9.7-billion loan approved by the World Bank last year.

“The problem of stunting is very important and very crucial to address if we are to invest in human capital,” Mr. Gatchalian said.

One in every five Filipino children aged 0 to 23 months old and 28.7% of children below 5 years old are stunted, Health Secretary Teodoro J. Herbosa said at the same briefing.

“That’s high.”

For its part, the Department of Health will ensure that the food stamp program is “changing the people that are severely malnourished… until they’re no longer malnourished.”

Mr. Herbosa said the Department of Interior and Local Government will also help in executing the program at the local level.

Mr. Herbosa also said it’s important for the government to implement unified programs that target the first 1000 days of a child because “brain development starts in the womb and then it continues with mandatory breastfeeding.”

“The focus of the past has been the school age. You fully develop an adult brain by the time we go to school. So even if I do the feeding, the damage has happened,” he said.

A Social Weather Stations (SWS) poll in May showed that half of Filipino families or 14 million households described themselves as poor in the first quarter of 2023 — a steady figure from the December poll.

In terms of employment, think tank Ibon Foundation said that by hours worked, the number of people employed full time fell by 568,000 between Dec. 22 and March 23. Those in part-time work increased by 15,000.

It said that by class of workers, employment in private establishments fell by 475,000 to 23.1 million in March.

With no formal wage and salary work in enterprises so scarce, 21.1 million Filipinos were struggling with the low or no pay from self-employment and informal work, Ibon said. — Kyle Aristophere T. Atienza

50 police officers face criminal raps over P6.7-B drug cover-up

PHIIPPINE STAR/ EDD GUMBAN

THE NATIONAL Police Commission (Napolcom) and the Philippine National Police have filed criminal complaints against 50 cops linked to the P6.7 billion worth of drugs seized in Manila last year, according to the Department of the Interior and Local Government.

At a livestreamed press conference, Interior Secretary Benjamin C. Abalos, Jr., who chairs the Napolcom, said the complaints were based on security camera footage of police officers allegedly attempting to steal 42 of the 990 kilograms of crystal methamphetamine, known in the Philippines as shabu.

“The Napolcom and the (police) Special Investigation Task Group have gone through everything — the testimonies, the evidence, and many things were seen here,” Mr. Abalos Jr. said in mixed English and Filipino.

The complaints were filed before the Office of the Ombudsman on June 9. It involves malversation of public property, violating the Anti-Graft and Corrupt Practices Act and the Dangerous Drugs Act.

The officers will also face administrative cases such as grave misconduct and neglect of duty, which could lead to their dismissal and forfeiture of benefits, he added.

Mr. Abalos said filing the cases was part of his agency’s efforts to weed out erring cops and restore the police force’s image.

Last month, national police chief General Benjamin C. Acorda, Jr. said cops arrested 24,197 suspects in more than 18,000 anti-illegal drug raids this year.

Law enforcers had seized this year around $110 million or about P6.16 billion worth of illegal drugs as of May 27.

Mr. Acorda Jr. told a news briefing on May 29 that the agency would continue investigating cops to ensure they remain clean.

“We will continue vetting and investigating the backgrounds of our drug enforcement officers to make sure that none of them turn to the wrong path,” he said in mixed English and Filipino.

That same month, Mr. Abalos said a five-man advisory panel had recommended the filing of criminal and administrative charges against four senior police officers over their alleged ties to the illegal drug trade.

He earlier called on all colonels and generals to resign after a probe found many top police officers were involved in illegal drugs. Almost a thousand senior police officers had submitted their courtesy resignations, Mr. Abalos told a news briefing on May 8. — John Victor D. Ordoñez

Taguig asks SC to look into Makati mayor’s claims on land row

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TAGUIG City Mayor Laarni L. Cayetano has asked the Supreme Court (SC) to look into alleged false claims made by Makati Mayor Marlen Abigail Binay-Campos about the two cities’ three-decade territorial dispute over the Fort Bonifacio military reservation and adjacent villages.

In a motion filed on Tuesday, Ms. Cayetano sought a show-cause order to require the Makati mayor to explain why she supposedly claimed in a media interview that Makati City received an order from the High Court on oral arguments for the case.

Ms. Binay did not immediately reply to a Viber message seeking comment.

“Respondent City of Taguig is committed to defending the integrity and honor of the honorable court and judicial processes and does not believe in these claims,” according to the motion.

Court spokesperson Brian Keith Hosaka earlier said he did not have information about the supposed oral arguments on the case.

In April, the tribunal ruled with finality on the case as it upheld Taguig City’s ownership of the 729-hectare Bonifacio Global City Complex and several villages.

It previously ruled in Taguig’s favor in a December 2021 decision.

A trial court in 1994 stopped the Makati City government from exercising jurisdiction over parcels of land that made up Fort Bonifacio, including the so-called Inner Fort that comprises the villages of Pembo, Comembo, Cembo, South Cembo, West Rembo, East Rembo and Pitogo.

The Philippine Army headquarters, Navy installation, Marines’ headquarters, Consular area, Joint US Military Assistance Group area, Heritage Park, Libingan ng mga Bayani, AFP Officers Village and six villages are in these areas. — John Victor D. Ordoñez

PHL vows to uphold workers’ right to organize  

WORKERS’ groups hold a rally in Manila on May 1, 2023, calling for a wage hike on Labor Day. — PHILSTAR/WALTER BOLLOZOS

THE PHILIPPINE government has vowed to uphold and promote workers’ right to organize and bargain through a newly formed task force on labor rights violations.  

“We have made sure that sectoral representation in the tripartite mechanisms is genuineAll newly appointed worker and employer representatives have come from the nominees of our social partner,” Labor Secretary Bienvenido E. Laguesma said in his speech at the International Labor Conference (ILO) being held in Geneva from June 5 to 16.  

President Ferdinand R. Marcos, Jr. on April 30 signed an executive order creating an inter-agency body that will investigate labor rights violations targeting trade unionists. 

According to Executive Order (EO) No. 23, the task force on labor rights violations will be chaired by the executive secretary and co-headed by the labor secretary.  

Labor groups criticized the measure, saying it lacked participation from workers.  

“It also falls short of the spirit of the International Labour Organization (ILO) High-Level Tripartite Mission as the EO 23 was drafted without the participation of workers,” Josua T. Mata, secretary general of Sentro ng mga Nagkakaisa at Progresibong Manggagawa, said in a Viber message last month.  

In February, a team of ILO representatives met with trade unions and government officials to discuss human rights violations against workers and union organizers.  

That month, trade unions submitted a joint report to the ILO mission on labor rights violations, saying the government has consistently failed to comply with ILO conventions on freedom of association and the right to organize. 

“The Philippines has reasserted its commitment to fair, equitable, and people-centered interventions to achieve social justice and address the changing patterns of todays world of work,” the Department of Labor and Employment said in a statement on Tuesday.  

OFW HOUSING
In another labor sector, the Department of Migrant Workers (DMW) and the Department of Human Settlements and Urban Development have partnered to provide more affordable housing for overseas Filipino workers (OFWs).  

At a livestreamed partnership signing event, Migrant Workers Secretary Maria Susan V. Ople said the provision of housing options for OFWs is part of the departments internal targets. 

“I’m sure all of us want to have our own houses that we can pass down to our family members.” 

Last week, the DMW also signed a deal with the Department of Trade and Industry to enhance the government’s program for assisting returning OFWs through upskilling and financial literacy programs. John Victor D. Ordoñez

De Lima’s former aide asks judge to inhibit from drug case 

SENATOR Leila de Lima attends the hearing at Regional Trial Court Branch 204 in Muntinlupa City on Nov. 4, 2022. — PHILIPPINE STAR/RUSSELL PALMA

DETAINED former Senator Leila M. De Lima’s former aide and two others tagged in the same illegal drug trafficking case have asked a Muntinlupa judge to stop handling the case, citing a conflict of interest. 

In three separate motions, the co-accused sought for Muntinlupa Presiding Judge Romeo S. Buenaventura to inhibit from the pending drug case since he is the brother of Emmanuel S. Buenaventura, who had helped Ms. De Lima’s former aide, Ronnie P. Dayan, execute his affidavit testifying against the former lawmaker. 

Mr. Dayan had since recanted his statement, saying he was coerced by the late former Oriental Mindoro Rep. Reynaldo T. Umali to testify against Ms. De Lima.  

The former aide argued that the judge’s brother used to lawyer for Mr. Umali, which created a conflict of interest.  

“Occupying as they do an exalted position in the administration of justice, judges must pay a high price for the honor bestowed upon them,” Haidee S. Soriano, Mr. Dayan’s lawyer, said in the motion to inhibit.  

“Hence, any act which would give the appearance of impropriety becomes, of itself, reprehensible.”  

BAIL
The same judge rejected last week the former senator’s motion for bail, saying it could not overlook the testimonial evidence against her.  

In a separate motion on Tuesday, Ms. De Lima asked the Muntinlupa court to reconsider her motion for bail.  

Ms. De Lima’s lawyers said the court should have used the basis of probable cause instead of relying on the evidence of guilt being strong in deciding on the bail plea.  

“The absolute and complete reliance of the Honorable Court on the testimony of the Prosecution witnesses, but only on their direct examination, is unprecedented, unfounded, and almost brazen,” according to the motion for reconsideration.  

The court has dismissed a separate illegal drug trafficking case against Ms. De Lima and Mr. Dayan on May 12, citing reasonable doubt.  

Four witnesses have retracted their testimonies against the former lawmaker. They all claimed to have been coerced by the previous administration. 

The former senator originally faced three illegal drug cases. The tribunal dismissed her first case in 2021. John Victor D. Ordoñez

State auditors tell CEZA to maximize P598M worth of infra projects 

THE COMMISSION on Audit (CoA) has flagged the Cagayan Economic Zone Authority (CEZA) for failing to fully utilize almost P598 million worth of infrastructure projects that were completed last year.  

The infrastructure projects completed in calendar year 2022 costing P597.92 million were idle/underutilized and only generated minimal revenue,its 2022 audit report made available on June 9, 2023 noted.   

The projects include the CEZA Commercial Center, which was completed in January 2022, and several warehouses and warehouse offices.   

The CEZA management explained to CoA that it recently awarded a contract of lease for the third floor of the commercial center, while the first and second floors will be leased by another locator within the year. CEZA added that eight of its warehouse units are undergoing repair.  

CoA also said that P199.6 million worth of master plans and feasibility studies have not been used and taken advantage of by CEZA as of Dec. 31, 2022.”   

The audit team also observed that other projects that are not even part of these feasibility studies were prioritized by management,it said.   

In response, the CEZA Planning Division said it is actively pursuingthe proposed projects through public-private partnerships.  

PORT COLLECTION
State auditors also called on CEZA to intensify and improve its port collections system after finding that P8.53 million worth of receivables from various port users and service providers remain uncollected as of Dec. 31 last year.   

The management committed to collect the said port fees and charges.  

State auditors also found that P10 million worth of investment with the Northeastern Luzon Pacific Coastal Service, Inc. (NLPCSI) has been dormant for 17 years.  

The NLPCSI was created in 2004 under the Strong Republic Nautical Highway flagship program. It was jointly organized by CEZA and the provinces of Cagayan, Isabela, and Aurora in Luzon.   

It is only in calendar year 2021 that CEZA recognized its 25% share in the net income of NLPCSI which mainly consists of interest from bank deposits. In contrast, the P10-million investments would have been more profitable had it been invested in higher interest-earning deposits with an authorized government depository bank,CoA said.  

The management is seeking approval for the dissolution of the NLPCSI from its board of directors and the local government units involved.  

CEZAs balance of audit disallowances amounting to P3.23 million remains unsettled as of Dec. 31, 2022, CoA said. Beatriz Marie D. Cruz

Chinese wanted for trafficking arrested at Manila airport 

IMMIGRATION agents have arrested a Chinese woman wanted by Beijing authorities for human trafficking, the Bureau of Immigration (BI) said on Tuesday. 

In a statement, BI Intelligence Chief Fortunato Manahan Jr. said immigration officers intercepted the fugitive at the Ninoy Aquino International Airport Terminal 2 on June 11. She was bound for Kuala Lumpur, Malaysia.  

The BI said the agency’s board of commissioners is expected to use an order for her deportation and inclusion in the bureau’s blacklist of undesirable aliens.  

The Chinese embassy in Manila had informed the BI that the woman, who has been on the BI’s wanted list since April 9, was accused of large-scale human trafficking operations.  

She is currently being held at the BI warden facility at Camp Bagong Diwa, Taguig City while awaiting deportation proceedings. John Victor D. Ordoñez

NGCP tower bombing attempt foiled by villagers, security forces

PHILIPPINE ARMY

MILITARY and police bomb experts, acting on reports from villagers, foiled an attempt by local terrorists on Monday to topple a relay tower of the national power grid system in the southern town of Pikit.    

Philippine Army 6th Infantry Division commander Alex S. Rillera reported on Tuesday that the bomb disposal operation was prompted by warnings from vigilant members of the community, among them businessmen, about a plot to topple down the National Grid Corporation of the Philippines(NGCP) Tower 39 in the area.  

Three improvised explosive devices, planted at the steel footings of the tower, were immediately diffused by responding bomb disposal teams from the Armys 90th Infantry Battalion and the Pikit Municipal Police Station.  

Local officials and members of the Islamic religious community in Cotabato province have confirmed to the media that the terrorist groups Bangsamoro Islamic Freedom Fighters (BIFF) and the Dawlah Islamiya connived in the supposed bombing of the tower.  

The sources said the bombing attempt was meant to create an impression that both groups have not been weakened by the surrender of over 300 members to authorities since late 2021.    

Soccsksargen Regional Police Director Jimili L. Macaraeg commended and thanked residents of Pikit for promptly reporting the bombing plot as part of their support to the governments campaign against violent religious extremists.  

The BIFF and the Dawlah Islamiya, both operating in the fashion of the Islamic State of Iraq and Syria, have been notorious for bombing public transportation and establishments whose owners refuse to pay protection money on a monthly basis. John M. Unson

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