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Peso weakens vs dollar

THE PESO declined against the dollar on fears over the virus. — BW FILE PHOTO

THE PESO weakened against the greenback on Tuesday as investors flocked towards safe-haven assets due to lingering concerns amid the ongoing outbreak of the coronavirus disease 2019 (COVID-19).

The local unit finished trading at P50.645 per dollar, depreciating by 7.5 centavos from its Monday close of P50.57, according to data from the website of the Bankers’ Association of the Philippines.

The peso opened the session at P50.53 versus the dollar. Its weakest showing was at P50.65, while its intraday best was at P50.57 against the greenback.

Dollars traded slipped to $933.9 million from the $971.5 million seen on Monday.

UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said there was risk-off sentiment in the market after Apple, Inc. voiced out worries regarding its first-quarter performance due to the virus’ spread.

“The market was cautious because of COVID-19 pathogens impact on global companies with with Apple saying that its quarterly sales would miss forecasts,” Mr. Asuncion said in a text message.

“Global corporate earnings and economic growth is now being weighed down by the actual impact of the virus outbreak,” he added.

“The peso continued to weaken from safe-haven demand on lingering coronavirus concerns and expectations of less dovish cues from [the US] Fed[eral Reserve] minutes this week,” a trader said in an e-mail.

Mr. Asuncion and the trader said the market will continue to watch developments in the COVID-19 outbreak and US data due for release on Wednesday.

For today, Mr. Asuncion sees the peso playing around the P50.50-P50.70 levels, while the trader expects the local unit to move within the P50.60-P50.80 band. — L.W.T. Noble

Local shares close flat amid lack of fresh leads

LOCAL SHARES closed flat on Tuesday as investors shied away from trading amid a lack of strong market catalysts.

The 30-member Philippine Stock Exchange index (PSEi) dipped 3.96 points or 0.05% to end at 7,322.89 yesterday, while the broader all shares index climbed 2.28 points or 0.05% to 4,340.98.

“The market continues to calm down as more and more investors wait on the sidelines for something to happen,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail. “The general sentiment remains cautious as more companies report 2019 earnings.”

The tame trading yesterday translated to a value turnover of P5.33 billion with 503.90 million issues changing hands. This is lower than Monday’s value turnover of P7.84 billion with 782.60 million issues.

Philstocks Financial, Inc. Research Associate Claire T. Alviar pointed to last-minute profit-taking to have dragged the main index yesterday, on top of most Asian markets closing in red territory.

Among the losing markets in Asia yesterday were Japan’s Nikkei 225 and Topix indices, which lost 1.40% and 1.31%, respectively. China’s CSI 300 index also fell 0.49% and South Korea’s Kospi index dropped 1.48% at the end of Tuesday’s trading

Meanwhile, most Southeast Asian stock markets also fell on Tuesday, as global sentiment soured after Apple became the latest company to flag lower revenue due to the coronavirus outbreak that has slowed economic activity in the region.

Thai shares and Singapore stocks fell 0.7% and 0.6%, respectively, making the them the top losers in the region.

Both Singapore and Thai economy have suffered following the outbreak, with Thailand expecting the number of foreign visitors to fall by 5 million this year, while Singapore lowered its 2020 growth target on Monday.

Ms. Alviar added that the report on all-time high remittances and tourism in the Philippines in 2019 helped lift the market intraday, but worries on the coronavirus outweighed it at trading’s close.

Sectoral indices at the PSE were mixed. Gainers were services, which went up 18.82 points or 1.31% to 1,454.76; mining and oil, up 47.30 points or 0.67% to 7,077.38; and property, up 1.09 points or 0.02% to 3,927.97.

Losers were led by financials, which shed 17.31 points or 0.99% to 1,727.30; industrials, which lost 32.82 points or 0.36% to 8,958.48; and holding firms, slipping 0.88 point or 0.01% to 7,146.35.

Declining names stood at 101 at the end of Tuesday’s trading, edging out advancers which clocked in at 86. Some 45 names ended unchanged.

Foreign investors turned bullish, tallying a net buying of P187.66 million to reverse Monday’s net foreign selling worth P336.82 million.

“The PSEi may end the week with minor gains as bargain seekers pick up cheap shares,” AAA Southeast Equities’ Mr. Mangun said. — Denise A. Valdez with Reuters

5 BI officials relieved pending bribery probe

By Vann Marlo M. Villegas, Reporter

FIVE IMMIGRATION officials were relieved from their posts and re-assigned pending an investigation of an alleged bribery scheme involving Chinese workers in local offshore gaming companies.

The officials were taken out of their posts “due to command responsibility,” Immigration spokesperson Dana Krizia M. Sandoval said in a mobile-phone message on Tuesday.

“But the investigation does not revolve entirely around them,” she said. “We’re looking at the bigger picture, all that might be connected to this alleged scheme, whether internal or external.”

This comes after senators on Monday exposed the illegal scheme that allows Chinese nationals to enter the country for a fee.

Many of them end up working for offshore gaming companies here, Senator Risa N. Hontiveros-Baraquel said earlier.

During a Senate hearing, the lawmaker showed a video of incoming Chinese nationals being escorted to an office at the international airport in Manila.

She also showed screenshots of Viber messages among Immigration officers discussing the bribery scheme, as well as a worksheet containing the P10,000 paid by each of the tourists.

Immigration Commissioner Jaime H. Morente on Monday ordered a probe of the practice.

The bureau earlier asked the Justice department and National Bureau of Investigation to probe corrupt practices at the airports, including human trafficking and escort services.

“We are already short-staffed, but this is a sacrifice we have to do to ensure the smoothness of the investigation,” Ms. Sandoval said.

Immigration officials who attended Monday’s hearing denied knowledge of the scheme, prompting Ms. Baraquel to say that they were either complicit or negligent.

The Senate body was tackling the illegal entry of Chinese nationals who end up working in offshore gaming companies in the Philippines.

Some female workers had also been allegedly trafficked and forced to work as sex slaves.

Ms. Baraquel told reporters after the hearing it was unlikely that Immigration officials were ignorant of the illegal scheme.

She noted that if reforms had really been started, the bureau would have discovered the scheme a long time ago.

The lawmaker said the government must order a crackdown against unscrupulous Immigration officials involved in the anomaly.

The Senate committee will examine at its next hearing the cost and benefit of offshore gaming companies, whose operators and clients are mostly Chinese.

8 more Filipinos in cruise ship infected with virus

EIGHT more Filipinos tested positive for the new coronavirus strain inside a cruise ship docked in Yokohama, bringing the total infected Filipinos to 35, according to the Department of Foreign Affairs (DFA).

“The Filipinos who tested positive for COVID-19 (coronavirus disease 2019) were immediately transferred to Japanese hospitals and are now undergoing treatment,” the agency said in a statement on Tuesday.

The death toll from the coronavirus outbreak in mainland China reached at least 1,868 with 93 more deaths in Hubei and five more in other parts of the country, according to Al Jazeera News.

Chinese state television also reported that Liu Zhiming, director of Wuhan Wuchang Hospital, died yesterday, becoming one of the latest fatalities of the epidemic.

The government also reported an additional 1,886 new infections across the country, but mostly from Hubei, bringing the nationwide total to at least 72,436, it said.

The Japanese government was expected to announce on Tuesday the disembarkation procedures for the Diamond Princess cruise ship as the quarantine period ends on Feb. 19, DFA said.

The Philippine Embassy in Tokyo was coordinating with agencies of both governments and the cruise management for the repatriation of Filipinos aboard the ship.

Foreign Affairs Assistant Secretary Eduardo Martin R. Meñez said the repatriation details were still being discussed by a local inter-agency task force. Repatriation would be voluntary, he added.

Meanwhile, a Filipina has become the first domestic helper to contract the coronavirus in Hong Kong, and the Chinese-ruled city’s 61st case overall, health authorities said on Tuesday.

There are more than 180,000 Filipinos in Hong Kong, many working as helpers, according to the Philippine Labor department. The helper, who worked for one of the previous confirmed coronavirus cases, spent an hour out with more than 10 friends whom the health department was contacting, the head of the communicable disease branch of the Centre for Health Protection, Chuang Shuk-kwan, said.

Also yesterday, Senator Ralph G. Recto supported the IATF’s decision to partially lift the travel ban on China’s special administrative regions, Hong Kong and Macau.

“This will save the jobs of thousands of FIlipinos who were vacationing in their home country when their government imposed a travel ban,” he said in a statement.

“The lifting of the ban, in effect, rescues these stranded workers from unemployment and their families from penury.” — Charmaine A. Tadalan with Reuters

Former Senator Trillanes posts P10,000 bail

A FORMER senator critical of President Rodrigo R. Duterte has posted bail after a Quezon City court ordered his arrest for allegedly conspiring to commit sedition.

The court recalled his arrest warrant after former Senator Antonio F. Trillanes IV paid a P10,000 bail upon arriving in the Philippines yesterday from overseas.

It ordered the ex-lawmaker and 10 other people to enter their pleas on March 17.

The Justice department last month indicted Mr. Trillanes along with 10 other people including for allegedly circulating a series of videos accusing President Duterte and his family of being in the illegal drug trade.

It dismissed the sedition, inciting to sedition, cyberlibel, libel, estafa and obstruction of justice complaint against all 31 respondents, including Mr. Trillanes, Vice President Maria Leonor G. Robredo, detained Senator Leila M. De Lima, former Senator Paolo Benigno A. Aquino IV, and other opposition candidates during the midterm elections.

Human Rights Watch earlier said authorities should drop the “preposterous complaint” against opposition politicians, religious leaders and human rights advocates.

It said the case was a “transparent attempt to harass and silence critics” of Mr. Duterte’s bloody drug war. — Vann Marlo M. Villegas

Villar checks 2 Pangasinan scenic roads closed due to safety, garbage issues

PUBLIC WORKS and Highways Secretary Mark A. Villar made an onsite inspection on Tuesday of the two highways in Pangasinan — the Daang Kalikasan in Mangatarem and Daang Katutubo in Aguilar — that were temporarily closed starting Monday following accidents and the accumulation of garbage on the roadside. The closure took effect Monday after an emergency meeting attended by representatives from national agencies and local government units led by Lingayen Mayor Leopoldo N. Bataoil, who heads the Pangasinan Provincial Advisory Council. In a statement from the Lingayen information office, Mr. Bataoil said there is a need to “come-up with plans and action to address various safety and environmental concerns.” In a separate statement issued on Sunday, Pangasinan 2nd District Rep. Jumel Anthony I. Espino said he recommended the closure after another fatal accident that morning. Mr. Espino also cited the problem faced by the local government over garbage left by those passing through and visiting the scenic Daang Kalikasan. Both Mangatarem and Aguilar are under the 2nd District. “The temporary closure is intended to further improve the road and completely finish the project. We will also assess what needs to be done for the safety of everyone,” he wrote in Filipino.

Improved road to Siquijor tourism sites ready by end-Q1

SIQUIJOR’S Butterfly Sanctuary and Bandilaan Mountain View Park will soon be more accessible with the concrete road along Barangay Calunasan in the town of Maria. “Before the end of first quarter, locals and tourists will be able to utilize a new 2-lane paved road going to secluded tourist destinations in the province. This road is also incorporated with drainage and slope protection features as flood-control and safety measure,” Department of Public Works and Highways (DPWH) Siquijor District Engineer Elvis G. Calunod said in a statement last week. Mr. Calunod also said that several other road improvement projects are lined up “to ensure local and international tourists experience this island province in Central Visayas that offers a handful of world-class destinations.” Siquijor can be reached by ferry services from Dumaguete City, the closest jump-off point, as well as Cebu and Tagbilaran. The province, called Isla de Fuego (Island of Fire) by the Spanish colonizers, celebrates several annual fiestas, including the Healing Festival during the Catholic Holy Week when traditional healers gather in Mt. Bandilaan to make herbal medicines and conduct therapeutic sessions. — MSJ

Zamboanga City transport route plan gets LTFRB approval

ZAMBOANGA CITY’s Local Public Transport Route Plan (LPTRP) has been approved by the national regulatory board and will now be included in the ongoing study for a comprehensive transport and traffic management masterplan. Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Martin B. Delgra III awarded on Monday the notice of compliance to the city’s LPTRP team, which was formed in 2018. “With the granted notice of compliance, the city government is to enact an ordinance adopting the said LPTRP indicating the routes, authorized modes and number of authorized units,” the LTFRB notice states. Local government units are mandated to draft an LPTRP under a 2017 directive from the Department of Transportation and the Department of Interior and Local Government. “Zamboanga City is one of the growing urban centers in Mindanao, and like other highly urbanized areas in the country, it is experiencing a significant increase in population and consequently traffic congestion due to the increase in the volume of road traffic users and limited road capacity,” Mayor Maria Isabelle Climaco-Salazar said in a social media post during the LPTRP team’s creation. The route plan, drafted with support from the Western Mindanao State University’s College of Engineering-Extension Services, will be made part of the Comprehensive Transport and Traffic Management Plan (2019–2033) that is being prepared by the University of the Philippines-National Center for Transportation Studies (UP-NCTS). The UP-NCTS, commissioned by the city government, led a transport summit in January in preparation for the plan. — Mindanao Bureau

Davao de Oro orders remaining small-scale miners in Mt. Diwalwal to relocate

THE DAVAO de Oro Provincial Task Force Naboc River aims to complete the relocation of small-scale gold processing operators in Mt. Diwalwal, also known as Mt. Diwata, this month to pave the way for the full implementation of the river’s rehabilitation plan. The Department of Environment and Natural Resources (DENR) issued a cease and desist order (CDO) on the mineral processing plants in Mt. Diwalwal in Monkayo effective March 15 last year. “The Provincial Naboc River Rehabilitation Masterplan serves as our framework in reviving the river. We need to execute first the CDO as we cannot implement the plan if there is still mercury and cyanide that will flow in the river,” Provincial Environment and Natural Resources Officer Chamberlain J. Babiera said in a statement last week.

TOXIC
The processing plants, which use carbon-in-pulp and ball/rod mills, discharge toxic wastes directly into the river. “It is not only the miners and residents of Mt. Diwata that are at risk, but also farmers downstream who source water for irrigation of the rice fields… in Compostela,” said Monkayo Mayor Ramil L. Gentugaya. The government has a designated processing zone in Mabatas, which has a tailings containment facility. It was built in 2003 when then President Gloria Macapagal-Arroyo issued an executive order for the transfer of the processing plants. Data from the Mines and Geosciences Bureau (MGB) show there were about 300 ball mills in the area. Davao de Oro Governor Jayvee Tyron L. Uy, in his State of the Province Address last month, reiterated his commitment to the Naboc River rehabilitation, which DENR Secretary Roy A. Cimatu declared as one of his priority programs last year. Davao de Oro has one of the biggest gold deposits in the world at 36,328,699 metric tons based on a 1998 report by the Mines and Geosciences Bureau. — Mindanao Bureau

AirAsia flies to GenSan

PHILIPPINE AirAsia Inc. President Ricky P. Isla (standing) officially announces that the budget airline will start flying between General Santos City and Clark, Cebu, and Manila by March this year during a meeting on Tuesday with stakeholders at the office of GenSan Mayor Ronnel C. Rivera (seated at the head of the table). The mayor said the service “will not only benefit the passengers but the growing GenSan economy.”

Nationwide round-up

Senator Dela Rosa maintains loyalty to Duterte over VFA termination


DUTERTE-ALLIED Senator Ronald M. dela Rosa is not supporting the Senate leaders’ plan to question before the Supreme Court the termination of the Visiting Forces Agreement (VFA) with the United States without the Senate’s concurrence. “I’m not supporting it,” Mr. Dela Rosa said in a briefing on Tuesday. He argued that while the 1987 Constitution provides that the chamber must concur in the implementation of treaties and agreements, it did not state the same is required in its withdrawal. “Kailangan pa ba ang interpretasyon ng (Do we need the interpretation of the) Supreme Court, kung mabasa natin sa Constitution hindi nakalagay d’on (if we can read in the Constitution that it is not indicated there)?” Senate President Vicente C. Sotto III said the chamber is seeking clarification whether the withdrawal of treaties should pass the Senate or not. Mr. dela Rosa said there is a “considerable number” of senators who likewise do not support the filing of the petition. Mr. Dela Rosa abstained from voting in favor of adopting the Senate resolution asking President Rodrigo R. Duterte to reconsider the VFA abrogation while the chamber conducts a review of the agreement. — Charmaine A. Tadalan

Espenido’s inclusion in narco-list ‘black propaganda’ and intelligence ‘flaw’ — Panelo

PRESIDENTIAL SPOKESPERSON Salvador S. Panelo on Tuesday defended Lt. Col. Jovie Espenido’s inclusion in the watchlist of officers allegedly linked to the illegal drug trade, saying it could have been partly due to failure in intelligence gathering as well as “black propaganda” by his enemies. He said Mr. Espenido, who has been at the frontline of the administration’s controversial drug war, still has President Rodrigo R. Duterte’s full trust. “The President says that’s black propaganda as far as he’s concerned. Biktima siya (Mr. Espenido is a victim),” he said. “It’s not unexpected that there may be some flaws in intelligence gathering. That happens. Sometimes they’re even intentional, you are being fed with the wrong info coming from those who are against a particular officer,” he added. — Gillian M. Cortez

Nation at a Glance — (02/19/20)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Nation at a Glance — (02/19/20)

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