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Rediscount window untapped in October

LENDERS did not tap the central bank’s rediscount facility in October amid sustained liquidity in the financial system.

“There is no availment under the peso rediscount facility in the month of October,” the Bangko Sentral ng Pilipinas (BSP) said in a statement on Tuesday.

Banks did not tap the Exporters’ Dollar and Yen Rediscount Facility (EDYRF) in the previous month as well.

For the year thus far, peso rediscount loans totaled P26.9 billion, a 78% decline from the P122.167 billion logged in the same period in 2019.

Banks only tapped the BSP facility in March, April, August and September this year.

Lenders’ decision to leave the rediscount window untapped shows increased liquidity in the financial system, said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp.

“Larger bids were made by banks on the BSP’s TDF (term deposit facility) and 28-day securities auctions,” Mr. Ricafort said in a text message.

The term deposit facility was oversubscribed last week as demand reached P552.97 billion against the P490 billion on the auction block.

Meanwhile, bids for the BSP’s one-month bills totaled P121.725 billion on Friday, more than double the P60-billion offering.

The central bank’s rediscount window gives banks access to additional money supply by posting their collectibles from clients as collateral.

In turn, banks can use the extra cash, denominated in peso, dollar, or yen, to disburse more credit for corporate or retail clients and service unexpected withdrawals.

This November, the peso loan rate regardless of maturity is at 2.75%.

On the other hand, rediscount loans under the EDYRF will be priced at 2.21575% and 1.89733% respectively.

The term spread on peso rediscount loans has been reduced to zero. This is part of the BSP’s regulatory relief measures for banks amid the coronavirus crisis and is effective until January 2021.

For loans under the EDYRF, the applicable rate will be the London Interbank Offered Rate or, in its absence, an applicable benchmark rate such as the secured overnight financing rate plus 200 basis points, regardless of maturity. — L.W.T. Noble

Arts & Culture (11/11/20)

Website and online series for contemporary performance

KOMUNIDAD X, the “anti-disciplinary” collective arm of Sipat Lawin, Inc. (SLI), launches the first-ever Virtual Resource Center for Contemporary Performance in the Philippines on Nov. 21. The website, kXchange.org aims to capture and collate contemporary performances developed in the Philippines, all across Asia, and the world. The website will serve as an online platform for series of interviews, panel discussions, and it will support contemporary artists in their works and publications. The first of this online series, co-organized with The Japan Foundation, Manila, is the UTSUROI Live Archives showcasing performances and intercultural exchanges between the Philippines and Japan from Nov. 24 to Dec. 19. This will feature the works and interviews of contemporary Filipino and Japanese artists such as: Eisa Jocson, Fujiwara Chikara, Ishigami Natsuki, Takeda Riki, Guelan Luarca, Tuxqs Rutaquio, Issa Manalo Lopez, Chesca Casauay, Andrei Pamintuan, and Sipat Lawin, Inc., among others. Directors of Japan-led artist meetings and network exchanges Maruoka Hiromi (Performing Arts Meeting in Yokohama) and Tada Junnosuke (Asian Performing Arts Farm 2020) will talk about the relationship between Japanese and Philippine artists, and the future of cultural exchange programs. kXchange.org will run its pilot programming for three years through its On(Line) Stage and Live Archives series. For updates, follow the Komunidad X Facebook page.

Art by the Bay goes online

ART by the Bay, a project of the Association of Pinoyprintmakers (AP), is going online with the support of the Visual Arts and Museum Division of the Cultural Center of the Philippines (CCP). “Art by the Bay” is AP’s bi-annual open house event that is usually held at their studio in the back of the Folk Arts Theater in the CCP Complex. For 10 years, Art by the Bay has grown an audience of artists, enthusiasts, collectors, and students, locally and internationally. Visitors of Art by the Bay can normally take part in various activities such as print sales, raffles of artworks, artist discussions, and printmaking demos. The selling of works in Art by the Bay raises funds for the association’s annual programs and the maintenance of their studio, and supports the sustainability of the printmaking practice of many artists. With the ongoing COVID-19 pandemic, the new online platform, with the theme of “reconnection and healing,” allows Art by the Bay attendees to continue to participate in this yearly anticipated event, and at the same time also gives artists the opportunity to sustain their increasingly precarious practice through the selling of their artworks. Art by the Bay is ongoing until Nov. 14 at www.artbythebay.ph. Online activities are being held every other day and will be capped off with a print raffle on Nov. 14, open to all those who purchased a print from the website. For more information about Art by the Bay, contact the Association of Pinoyprintmakers at pinoyprintmakers@gmail.com or through mobile number 0945-765-1769.

Timepieces, mid-century modern furniture at León Gallery

LEÓN Gallery will hold “Vintages,” a special online auction on fashion, art, watches, furniture, antiques, and design, on Nov. 14, 11 a.m. Guest curated by designers Jonathan Matti and Pepito Albert with Devi De Veyra, this special auction highlights luxury timepieces and mid-century modern furniture from CWC International Corp. and Midcentury Manila. Top-billing the wristwatches is a yellow gold Calatrava Ref 3796 with white dial and Roman numerals from Patek Philippe; a white gold 260th Anniversary Limited Edition Blancpain No. 230/260 with silver dial; a stainless steel Blancpain Fifty Fathoms GMT Trilogy Ref 192 with black dial; and a gaggle of Rolexes. The preview exhibit is open to the public until Nov. 13 from 9 a.m. to 7 p.m. at León Gallery, Eurovilla 1, Rufino corner Legazpi Streets, Legazpi Village, Makati City. To participate in the auction, go to www.leonexchange.com and register as a buyer. Visit www.leon-gallery.com  or contact  info@leon-gallery.com  or call 856-2781 for more information.

Quirante exhibit at the BenCab Museum

PNEUMA II by Ian Quirante is now on view at BenCab Museum’s Gallery Indigo until Dec. 6. The exhibit features images of roughly painted head busts, massive fragmented concrete, obscured mountains and hills, a collage of scattered anatomical parts, familiar objects, and indiscernible words that seemingly form dreamscapes devoid of any conscious narrative. Ian Quirante has received awards from the Philip Morris Art Awards, Metrobank Art Competition, Shell National Student Art Competition and has held numerous solo and group shows in the Philippines and abroad. He currently teaches at University of the Philippines College of Fine Arts Diliman and at De La Salle College of Saint Benilde School of Design and Arts. The BenCab Museum in Baguio is open Tuesday to Sunday, 9 a.m. to 5 p.m. For inquiries, e-mail bencabartfoundation@gmail.com.

Dito CME to gain indirect stake in telco startup in share-swap deal

LISTED Dito CME Holdings Corp. is acquiring an indirect stake in telco startup Dito Telecommunity Corp.

In a disclosure to the stock exchange on Tuesday, Dito CME, a Dennis A. Uy-led holding firm, said it had approved the terms and conditions of the acquisition of 100% of the issued and outstanding common shares of Udenna Communications Media and Entertainment or Udenna CME.

Udenna CME holds Udenna Corp.’s shares in its telecommunications business.

Dito Telecommunity is currently owned by Udenna (35%), Chelsea Logistics and Infrastructure Holdings Corp. (25%), and China Telecom Group (40%).

Udenna CME is a major stakeholder of Dito Holdings Corp., which was registered with the Securities and Exchange Commission in October last year. Last week, Chelsea, a Udenna company, announced that its board of directors had approved the sale of its common and preferred shares in Dito Telecommunity to Dito Holdings.

Thus, Dito CME will end up as the beneficial owner of Udenna’s equity interests in Dito Telecommunity, excluding those under Chelsea, through Dito Holdings, which will own 60% of the telco startup.

Dito CME said the acquisition of Udenna CME will be a share-for-share swap with Udenna, “in exchange for 11,200,000,000 shares of Dito CME at an issue price of approximately P6.00 to P6.90 per share.”

“This is one step of our plan of realizing Dito CME’s ownership of Dito Telecommunity, through Udenna CME and Dito Holdings Corp.,” Dito CME President Eric R. Alberto said in a statement. — Arjay L. Balinbin

How PSEi member stocks performed — November 10, 2020

Here’s a quick glance at how PSEi stocks fared on Tuesday, November 10, 2020.


Main index surges to 7,000 level on vaccine hopes

By Denise A. Valdez, Senior Reporter

THE BELLWETHER Philippine Stock Exchange index (PSEi) stepped into the 7,000 level on Tuesday, reaching its highest level since February, as positive development on a possible coronavirus disease 2019 (COVID-19) vaccine improved investor sentiment across the globe.

The main index closed at 7,035.48 on Tuesday, leaping by 349.63 points or 5.22% from the previous session. The broader all shares index surged by 135.35 points or 3.41% to 4,096.47.

Tuesday’s jump is the highest the PSEi recorded since March 26, when it posted a 373.82-point or 7.44% increase. Yesterday’s close is also PSEi’s best since Feb. 24, when it finished at 7,187.44.

The index sustained its uptrend all throughout the trading session. It opened at 6,792.58, which was already its low for the day, while its closing level was its intraday high.

“Local shares soared after Germany-based BioNTech SE and Pfizer Inc. announced that their COVID-19 vaccine candidate achieved ‘success’ in the first interim analysis of a Phase 3 study,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message.

“Positive sentiment spreads all over the equity markets… The rally of the index was further pushed by the surge of the heavyweights like SM Investments Corp. (11.11%), Ayala Land, Inc. (8.79%), and SM Prime Holdings, Inc. (6.83%),” Philstocks Financial, Inc. Research Associate Claire T. Alviar said in a text message.

“[P]ositive sentiment may still spillover in the coming days, but we also expect a pullback given the rally,” she added.

Tuesday’s trading coincided with the release of third quarter gross domestic product (GDP) data, which showed an 11.5% contraction, keeping the economy in recession.

The third-quarter performance brought the year-to-date average to a contraction of 10%. The government expects the economy to shrink by 4.5%-6.6% this year.

“[G]iven the market’s performance, we think that investors shrugged off the third-quarter GDP data and were focused on the positive developments over the COVID-19 vaccine,” Ms. Alviar said. “We think that it is because investors are forward-looking, and hoping for economic recovery.”

All sectoral indices closed higher on Tuesday: holding firms by 492.88 points or 7.08% to 7,446.23; property by 224.63 points or 6.94% to 3,457.04; financials by 43.03 points or 3.35% to 1,326.14; services by 26.41 points or 1.74% to 1,544.25; industrials by 57 points or 0.63% to 9,085.59; and mining and oil by 21.48 points or 0.26% to 8,175.19.

Value turnover stood at P13.08 billion with 2.44 billion issues switching hands, up from the previous session’s P8.02 billion with 1.71 billion issues. Advancers beat decliners, 131 against 87. Some 35 names ended unchanged.

Foreign investors posted net inflows of P2.28 billion on Tuesday against net outflows of P394.7 million in the previous session.

Peso weakens versus the dollar on virus case tally, Q3 GDP contraction

THE PESO weakened versus the dollar on Tuesday as the daily tally of coronavirus disease 2019 (COVID-19) cases increased again and after the government posted a worse-than-expected economic contraction in the third quarter.

The local unit closed at P48.27 versus the dollar on Tuesday, declining by 12.5 centavos from its P48.145 finish against the greenback on Monday, data from the Bankers Association of the Philippines showed.

The peso was weaker during the entire trading day, opening Tuesday’s session at P48.24 against the greenback. It strengthened to as much as P48.20 and closed at its intraday low.

Dollars traded rose to $710.6 million on Tuesday from $679.3 million previously.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the peso declined against the dollar as the daily tally of COVID-19 cases rose above 2,000 on Monday.

The Health department recorded 2,058 new coronavirus cases on Monday, bringing the total to 398,449.

Meanwhile, a trader said the peso weakened following the release of gross domestic product (GDP) data for the third quarter.

“The peso weakened after the Philippine third-quarter GDP report came weaker than market expectations,” the trader said in an e-mail.

The economy continued to shrink in the third quarter, data released by the Philippine Statistics Authority on Tuesday showed.

Philippine GDP declined by 11.5% in the third quarter, a reversal of the 6.3% expansion recorded in the same quarter last year but easing from the record 16.9% plunge in the previous three-month period.

The third-quarter print was worse than the 9.2% median in a BusinessWorld poll of economists last week.

This brought the year-to-date average to a contraction of 10%. The government expects the economy to shrink by 4.5%-6.6% this year.

For Wednesday, both Mr. Ricafort and the trader sees the peso moving from P48.15 to P48.35 versus the dollar.

Meanwhile, trade-related currencies were buoyed on Monday by a pick up in risk appetite after Joe Biden clinched the US presidency and Pfizer, Inc. said its experimental vaccine was more than 90% effective in preventing COVID-19, Reuters reported. — KKTJ with Reuters

COVID-19 infections nearing 400,000; deaths reach 7,661

THE DEPARTMENT of Health (DoH) reported 1,347 coronavirus infections on Tuesday, bringing the total to 399,749.

The death toll rose by 14 to 7,661, while recoveries increased by 187 to 361,919, it said in a bulletin.

There were 30,169 active cases, 83% of which were mild, 9.4% did not show symptoms, 4.8% were critical and 2.7% were severe.

Cavite reported the highest number of new cases at 92, followed by Manila at 77, Quezon City at 58, Baguio City at 55 and Laguna at 52, the agency said.

Forty-seven duplicates were removed from the tally, while nine cases previously tagged as recovered were reclassified as deaths it added.

Eight laboratories failed to submit their data on Nov. 9, DoH said.

The coronavirus has sickened about 51.3 million and killed 1.3 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO).

About 36 million people have recovered, it said.

Meanwhile, the government said it would not fast-track the approval of coronavirus vaccines developed by Pfizer, Inc. for local use, Science and Technology Secretary Fortunato T. de la Peña told an online news briefing.

The vaccines, which have been given emergency approvals by the United States to use in mild cases of coronavirus disease 2019 (COVID-19) virus probably would not be prioritized for local registration, he said. “I doubt whether we will follow the emergency approvals if the trials were not done here,” Mr. de la Peña said in mixed English and Filpino. He added that the local Food and Drug Administration would have the final say on this.

Reuters reported on Monday that Pfizer’s experimental COVID-19 vaccine with German partner BioNTech SE is 90% effective based on initial trials. Mr. De la Pena said the Philippines would not allow emergency trials locally, adding that the law even has a phase 4 requirement for clinical trials.

But Philippine Ambassador to the US Jose Manuel G. Romualdez told a separate news briefing the company was in talks with the FDA and DoH on the initial procurement plan for the vaccines.

“Pfizer has a country manager in the Philippines who is speaking to the DoH and the FDA over how many vaccines we will get from them,” he said in Filipino.

The company will produce 100 million vaccines for patients in the US, and as many as a billion will be produced by mid-2021. Mr. Romualdez said the Philippines had a good chance of getting supplies even if the vaccines would be in high demand. — Vann Marlo M. Villegas and Gillian M. Cortez

Gov’t and companies start program versus hunger, malnutrition

THE GOVERNMENT and private sector have started an anti-hunger movement that seeks to eradicate hunger and malnutrition in the country.

“Hunger persists as a complex, multidimensional problem which we face as a nation,” Cabinet Secretary Karlo Alexei B. Nograles, who heads an inter-agency task force against hunger, told an online news briefing on Tuesday. “This movement calls on all organizations and each and every Filipino to help our fellow Filipinos.”

The program seeks to solve problems in food production, distribution and accessibility and help poor families.

Individuals, organizations, companies and other concerned groups may contribute to the anti-hunger crusade by being involved in various programs that support farmers and food producers, Mr. Nograles said.

They may also support malnutrition advocacy for kids below five years and pregnant women and lactating mothers, and through meal donations, he added.

The task force against hunger, created last year through an executive order, mobilizes government resources to achieve zero hunger and end other forms of food deprivation.

“We hope to turn over our national food policy to the next administration,” Mr. Nograles said, adding that the goal is to eradicate hunger by 2030 according to sustainable development goals of the United Nations.

President Rodrigo R. Duterte’s six-year term ends in 2022.

A Social Weather Stations poll in September showed that about 7.6 million Filipino families had experienced hunger in the past three months.

The founding members of the anti-hunger movement include some of the country’s biggest companies such as Coca-Cola Beverages Philippines, Inc., Dole Philippines, Inc., Johnson & Johnson’s Philippines, Inc., McDonald’s Philippines, Metropolitan Bank & Trust Co. and San Miguel Corp.

The companies have pledged to provide 100,000 meals for communities in the capital region and key areas nationwide through the Ronald McDonald House Charities’ McDonald’s Kindness Kitchen.

A total of 3,000 infant kits for children below two years old will also be distributed. — Kyle Aristophere T. Atienza

SRPs for Christmas eve food products kept by Trade dep’t

THE SUGGESTED retail prices (SRP) for food products used for the traditional Christmas eve feast, or noche buena, will be kept after the Trade department released the same price list from a year earlier.

The SRP that took effect on Tuesday will cover ham, fruit cocktail, cheese, pasta, sandwich spread, mayonnaise, macaroni, creamer and spaghetti and tomato sauce, according to a memo issued by the agency. The price timeline for some of the products will be more limited, such as some condensed milk that will be valid between Nov. 15 and Dec. 31.

Prices of Dole and Seasons brand products are valid for the month of December, while prices of some fruit cocktails will be valid from Dec. 15 to 31 only.

Ham products weighing a kilo will have a suggested retail price of P299 to P1025, while a 3-kilo fruit cocktail will cost P202.20 to P239.40, depending on the brand.

The SRP for 500 grams of cheese products is P118.20 to P269.5, while a 900g spaghetti could cost P57 to P87.65. Prices of one-kilo elbow and salad macaroni will be P64 to P98.65. A kilo of spaghetti sauce will cost P60.70 to P84.20, while tomato sauce will cost P62 to P78.25. Creamers will cost P47 to P75 depending on the size and brand.

Companies behind major brands such as Lady’s Choice, Clara Ole, Alaska and UFC said they would keep prices stable amid the economic crisis brought by a coronavirus pandemic, the Trade department said last week.

Meat processors CDO Foodsphere, Inc., Virginia Food, Inc. and Century Pacific Food, Inc. also said they won’t raise prices.

The agency last month evaluated applications from food companies to increase the prices of goods to cover higher operating costs.

Victorio A. Dimagiba, president of consumer group Laban Konsyumer, said in a mobile message that he was thankful that the call to stabilize the prices of noche buena products was heeded. Suggested retail prices apply to products sold in supermarkets and wet markets. — Jenina P. Ibañez

Tribunal warns parties in Marcos protest

THE PRESIDENTIAL Electoral Tribunal has warned parties in the poll protest of losing vice presidential candidate Ferdinand R. Marcos, Jr. not to discuss the case to the media.

In a statement, the court’s Public Information Office said the tribunal had reiterated its order for the parties to “strictly observe the sub judice rule,” which bars anyone from issuing comments that could interfere with the court’s handling of the suit.

“These are not the proper venues to litigate their case,” it said. “The parties, their counsels and their agents are sternly warned that any more violation of this order shall be dealt with more severely.”

Mr. Marcos and the Office of the Solicitor General on Monday asked presiding Justice Mario Victor F. Leonen to inhibit himself from the case, citing bias against the Marcos family and accusing him of delaying the case.

The lawyers of Vice President Maria Leonor G. Robredo have criticized Mr. Marcos’s plea, which they said was another “mind-conditioning game” meant to attack the integrity of an institution “to force them to give in to his desires.” — Vann Marlo M. Villegas

Nationwide round-up (11/10/20)

Damage from 4 typhoons estimated at P38B

THE four typhoons that hit the country since late October has cost the country about P38 billion in output losses, but Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua said on Tuesday this remains a “manageable” amount.

Citing preliminary data, Mr. Chua said the damage caused by typhoon Rolly (international name: Goni) alone, the world’s strongest typhoon so far this year, was estimated at P24 billion or equivalent to 0.13% of the country’s nominal gross domestic product (GDP).

The cost of destruction caused by the four typhoons combined — Pepito (Saudel), Quinta (Molave), Rolly (Goni) and Siony (Atsani) — translate to 0.21% of GDP.

“Our GDP is almost P18 trillion so if we put them all together, the impact on the country’s growth rate, preliminarily, is around a reduction of 0.055 percentage points, so I think this is a manageable level,” he said in a press conference.

“What is important is we fast-track the recovery so that more people will be reintegrated back after the disaster phase,” he added.

The projected damage of typhoons and other disasters triggered by storms such as landslides and flash floods had always been considered when the economic team made their economic projections, said Mr. Chua.

“Typhoons or natural disasters arising from typhoons are recurring events which we have already internalized in our estimates although sometimes typhoons can be more destructive so these are being factored in (the government’s economic forecasts),” he said.

The World Bank estimates that the country suffers P177 billion on average in losses to public and private assets due to typhoons and earthquakes each year.

Latest data showed the country slumped by 11.5% in the third quarter to record its third straight quarter of contraction this year.

Last quarter’s print has been tempered by the 1.6% increase in the agriculture sector, the only one that has been recording growth since the second quarter among the three main economic sectors.

However, agriculture was among the hardest-hit sectors by the typhoons, which incurred P5 billion in output losses from typhoon Rolly and P2.66 billion from Quinta as of Monday, based on the estimates by the Agriculture department.

In the power sector, typhoon Rolly’s projected cost of damage to electric cooperatives’ facilities climbed to P371.41 million as of Tuesday, the National Electrification Administration (NEA) reported.

NEA also said power supply has been restored to 2.1 million households or 67.91 % in the Bicol region and other affected areas.

About 671,349 consumers remain without access to power. — Beatrice M. Laforga and Angelica Y. Yang

Updated immigration law needed to fight corruption—Morente

IMMIGRATION Commissioner Jaime H. Morente said passing a new law on the Bureau of Immigration (BI) will solve the corruption in the agency.

In a statement on Tuesday, Mr. Morente said many provisions in the Philippine Immigration Act of 1940, which was enacted at a time when there were no international flights into the country yet, are “already outdated and inappropriate.”

He said updating the existing immigration law “may yet cure systemic problems that breed corruption.”

“We can remove people again and again, but the loopholes in the law remain,” he said.

He said the pending bills in Congress will address “salary woes, remove systemic issues, plug loopholes in policies, update fines and penalties, ensure division of power, and confer to the Commissioner the proper disciplinary powers.”

In the meantime, he added, two steps of the “three-tier approach” is already being implemented to address anomalies.

The first is the “short-term solution” of relieving those found to be involved in corrupt practices and second is the “medium-term solution” of reorganizing the system and adding “layers of check and balances.”

The “real and long-term solution” is updating the Philippine Immigration Act, he said.

At least 86 Immigration personnel are facing graft complaints over their involvement in the money-making scheme of facilitating the illegal entry of foreign nationals.

These suspended BI officers were summoned to Malacañang on Monday night where President Rodrigo R. Duterte gave them a “warning,” according to his spokesperson. —Vann Marlo M. Villegas and Gillian M. Cortez 

Labor dispute settlement now online

LABOR disputes can now be settled virtually with the Department of Labor and Employment (DoLE) implementing an online conciliation-mediation system to minimize face-to-face contact amid the coronavirus threat.

In a statement on Tuesday, DoLE said it has released guidelines on the online Single Entry Approach (e-SEnA) program through Administrative Order No. 215, series of 2020. This will allow parties to file their request for assistance online instead of physically visiting the Single Entry Assistance Desk.

The DoLE said the SEnA is “an administrative approach that aims to provide speedy, impartial, inexpensive, and accessible settlement procedures of all labor issues or conflicts to prevent them from ripening into full-blown disputes or actual labor cases.”

The SEnA forms may be accessed at  https://sena.dole.gov.ph.

Discussions on the SEnA conference will be conducted among the parties with the SEnA Desk Officer before the notice of conference is given out through courier services, facsimile, electronic mail, or other digital platforms.

The SEnA conference will be done through video conferencing or teleconferencing. In case a party does not have any digital platform available, a face-to-face conference can be held but will be subject to strict health protocols. — Gillian M. Cortez 

Bill providing seniors free dialysis filed

A MEASURE seeking to provide free dialysis for senior citizens through full reimbursement to hospitals has been filed at the House of Representatives.

House Bill 7859, or the Free Dialysis for Senior Citizens Act, mandates the Philippine Health Insurance Corp. (PhilHealth) to “as soon as possible reimburse” all the expenses hospitals incurred for the dialysis sessions of seniors.

“PhilHealth shall as soon as possible reimburse all official receipts for drugs, supplies, and laboratory procedures dated 30 days prior to the date of the claimed session,” the bill states.

“Seniors are unable to spend their pension on dialysis treatments because the pension payments to them are barely enough for survival needs,” Senior Party-list Rep. Rodolfo Ordanes said in a statement.

PhilHealth’s current 90 sessions coverage is “unjust because it imposes upon seniors and their families the cost burden of the 54 sessions not covered in the common 144 sessions dialysis patients need to undergo,”he added. — Kyle Aristophere T. Atienza

PHL envoy reelected to UN committee seat

PHILIPPINE Ambassador Rosario G. Manalo has been reelected to a seat in the United Nations Committee on the Elimination of All Forms of Discrimination against Women (UN-CEDAW), the Department of Foreign Affairs (DFA) announced on Tuesday.

“She is widely-recognized as a champion of women’s rights in the PH, in the region, through ASEAN, and the international community,” the DFA said in a social media post.

“In her service, she has acquired invaluable knowledge and vast expertise in various capacities in ASEAN (Association of Southeast Asian Nations) and the UN.” Ms. Manalo, who was re-elected on Nov. 9, was one of 19 candidates who vied for 11 highly contested seats.

“Amb. Manalo is my country’s most eminently-qualified candidate to serve a new term as member of the said Committee,” Foreign Affairs Secretary Teodoro L. Locsin, Jr. said.

Ms. Manalo has served as a senior adviser for the DFA since 2002 and currently sits as chairperson of the Independent Commission of Enquiry, according to her curriculum vitae posted on the UN High Commissioner for Human Rights website.   

She is also director of the Center for Gender Equality and People Empowerment and dean of the Helena Z. Benitez School of International Relations and Diplomacy at the Philippine Women’s University. — Charmaine A. Tadalan 

Regional Updates (11/10/20)

Tropical storm Ulysses intensifies as it nears Bicol

TROPICAL cyclone wind signal #2 was up as of Tuesday afternoon in several provinces in the Bicol Region as tropical storm Ulysses intensified while approaching land. Weather bureau PAGASA, in its 5 p.m. bulletin, warned of “damaging gale-to storm-force winds” in Catanduanes, Sorsogon, Albay, Camariñes Sur, and the eastern portion of Camariñes Norte (San Vicente, Talisay, Daet, San Lorenzo Ruiz, Basud, Mercedes). Wind signal #1 was also raised in several Luzon and Visayas areas. A storm surge alert was also issued over coastal areas along the storm’s path, including in the capital Metro Manila.  PAGASA said Ulysses, the 21st to enter the country this year, could strengthen into a typhoon by Wednesday afternoon with a possible peak intensity of 130-155 kilometers per hour (km/hr) and make landfall over Bicol or Quezon province. As of 4 p.m. Tuesday, the storm’s center was located 375 km northeast of Virac, Catanduanes with maximum sustained winds of 85 km/h and gustiness of up to 105 km/h.

New Third-Party Monitoring Team chair named for Bangsamoro peace

A new chair has been designated for the Third Party Monitoring Team that oversees the implementation of the peace agreement between the Philippine government and the Moro Islamic Liberation Front (MILF) in the Bangsamoro region. In a statement on Tuesday, the team announced the appointment of German national Heino Marius, an economics expert and a long-time European Union (EU) official. His career includes experience on dealings in southeast Asia, Afghanistan, and Pakistan. The EU delegation to the Philippines, in a separate statement, congratulated Mr. Marius on his new post and underscored the EU’s continued support to the peace process. Mr. Marius completes the five-member independent monitoring team, which currently includes: Karen Tañada (Gaston Z. Ortigas Peace Institute), Rahib Kudto (United Youth for Peace and Development, Inc.), Huseyin Oruc (Humanitarian Relief Foundation), and Sam Chittick (Asia Foundation).