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Duterte promotes more Army generals

PRESIDENT Rodrigo R. Duterte on Wednesday said he has promoted more army generals. In his speech during his visit to an infantry division of the Philippine Army in Samar on Wednesday night, Mr. Duterte said: “Marami akong pinirmahan…‘yong promotion. Pinirmahan ko na lahat. Maraming na-promote na sa inyo (I signed a lot of [documents]. Your promotion. I signed all. Many of you are promoted).” He added, “Next week lalabas na ‘yung sa mga generals ninyo, ‘yung mga major, mga lieutenant general. So congratulations sa na-promote (Next week, you will know your new generals: the major [generals], the lieutenant generals. Congratulations to all who are promoted).” The President also asked Senator-elect Christopher Lawrence T. Go, who was present at the event, to thank the soldiers who supported him in the 2019 midterm elections. — Arjay L. Balinbin

Appeal to legislators: Stop revival of death penalty


THE CATHOLIC Bishops Conference of the Philippines-Episcopal Commission on Prison Pastoral Care (CBCP-ECPPC) on Thursday appealed to incoming legislators to stop the reimposition of the death penalty. “The CBCP-ECPPC stands with His Holiness Pope Francis in calling for the abolition of capital punishment worldwide. We believe that such a stand is a defense of the dignity of human life,” the CBCP said in a statement, issued during the 13th anniversary of the signing of the law abolishing the death penalty. The Coalition Against Death Penalty and Restorative Justice Advocates also voiced its opposition to the revival of capital punishment in the 18th Congress. — Charmaine A. Tadalan

China proposes joint probe with PHL on boat sinking

By Arjay L. Balinbin, Reporter

THE Chinese government on Thursday proposed a joint inquiry into the June 9 Recto Bank incident.

Malacañang has said that it is open to this “possibility.”

Responding to a question on the incident in a press conference in Beijing, Chinese Foreign Ministry Spokesperson Lu Kang said: “To find a proper solution, we suggest a joint investigation at an early date so the two sides can exchange respective initial findings and properly handle the matter through friendly consultations based on mutually-recognized investigation results.”

The Chinese Embassy in Manila posted the transcript on its Twitter and Facebook pages on Thursday evening.

Mr. Lu reiterated that the Chinese government “sympathizes” with the 22 Filipino fishermen involved in the incident, which took place at the Recto Bank in the West Philippine Sea.

“Once again, I would like to offer sympathy to the Filipino fishermen who were in distress after the accidental collision of a Chinese and a Filipino fishing vessel in Liyue Tan, Nansha,” the official said.

Last Tuesday, Presidential Spokesperson Salvador S. Panelo said in a press briefing at the Palace: “I am tinkering the idea of suggesting that [to Mr. Duterte], joint investigation ng dalawang bansa (of both countries).”

For his part, Cabinet Secretary Karlo Alexei B. Nograles told reporters in an interview that a joint probe is a “possibility.”

“It’s one of the options,” the Palace official also said.

Mr. Lu said the Chinese government “attaches great importance to friendly relations with the Philippines and safety of personnel at sea, regardless of nationality.”

He added that China will “continue to investigate the incident thoroughly and communicate with the Philippine side via bilateral channels.”

Contingency plan discussed for water shortage

THE METRO Manila Disaster Risk Reduction and Management Council (MMDRRMC), concerned government agencies and water concessionaires have met to discuss contingency measures on how to prepare for a worsening water shortage. The meeting was attended by officials of Metropolitan Waterworks and Sewerage System and water concessionaires, Philippine Atmospheric, Geophysical and Astronomical Services Administration, and other concerned government agencies. To facilitate the delivery of water supplies to areas that may be affected, Metropolitan Manila Development Authority and concurrent MMDRRMC chairman Danilo Lim said trucks of Maynilad Water Services Inc. and Manila Water Company Inc. are still exempted from the number coding scheme.

Grab hatchback drivers to file complaint against LTFRB

A GROUP of deactivated Grab hatchback drivers and a labor group will file a class suit on Friday against the Land Transportation Franchising and Regulatory Board (LTFRB) for its policy on hatchback vehicles. “Kinukumpleto namin ‘yung mga kailangan na dokumento para magkaroon ng kaukulang permit or provisional authority. Pagdating sa Step 1 pa lang, e-evaluate nila ‘yung papel at kapag nakita nila na hatchback, papaalisin ka na. Ganun lang po, walang paliwanag,” said Leonardo V. De Leon, Jr., Hatchback Community President during a press briefing in Quezon City on Thursday, June 20. (We are already completing the documents required to have a permit or provisional authority to operate. However, as they evaluate your paper in Step 1, they will reject your application if they see that you are driving a hatchback. Just like that, no explanation). Last week, ride-hailing giant Grab Philippines deactivated 8,000 vehicles, including hatchbacks, for not submitting any proof that they were granted provisional authority by LTFRB. Hatchback Community, which has 1,225 drivers removed from the Grab platform, and Defend Job Philippines will file the complaint before the Regional Trial Court of Quezon City. They will be assisted by Lawyers for Commuters Safety and Protection. Sought for a comment, Grab Philippines said, “To clarify, we are limited by the regulations that we need to abide by. If a TNVS has no proper docs, regardless if the vehicle is HBs (Hatchbacks) or Sedan, we can no longer allow on our platform. But do we support plight of the HBs? Yes, we do.” — Vince Angelo C. Ferreras

Forum held on grassroots development

THIRD SECRETARY Junichi Hirano attended the “20th Philippine Council for NGO Certification Annual Assembly” in Quezon City on June 4 to promote “The Grant Assistance for Grassroots Human Security Projects (GGP),” a program to assist NGOs and local public authorities in responding to various development needs. The event was attended by around 500 accredited NGO members of the PCNC. Since 1989, the Embassy of Japan had implemented 543 projects in the Philippines under the GGP.

Makati rewards honor graduates of public schools

THE CITY government of Makati has granted cash incentives ranging from P6,000 to P10,000 to some 2,014 honor graduates from the city’s public elementary and senior high schools for school year 2018-2019. Makati Mayor Mar-len Abigail Binay led the Gawad Parangal ceremony held on June 18 and 19 at the A. Venue Hotel along Makati Avenue, where she handed each awardee a voucher for claiming the cash incentive at the Cash Division at City Hall. She also raffled off 60 brand new laptops among them. City schools division superintendent Rita Riddle said the cash incentives were given as follows: P6,000 each for those who graduated with honors; P8,000 for those with high honors; and P10,000 for those with the highest honors.

Chinese construction workers arrested for ‘causing trouble’

THE BUREAU of Immigration (BI) arrested 35 Chinese working as construction workers in a subdivision in Parañaque City, following a complaint that they were “causing trouble” at the construction site. “The location keeps on popping in different complaints, so this prompted us to conduct surveillance in the area and we indeed confirmed the presence of these illegal workers,” BI Intelligence Division Chief Fortunato S. Manahan, Jr. said. He added that at least two Philippine construction companies with building projects in three different streets in the village were involved in the hiring of the Chinese nationals. According to the policy of BI, “foreign national are disallowed from engaging in work involving manual labor.” BI Commissioner Jaime H. Morente said the Chinese will be deported and barred entry to the Philippines. — Vann Marlo M. Villegas

EU Ambassadors exploring opportunities in Mindanao

THE PRESENCE of the EU Ambassadors in the opening of the Davao Investment Conference 2019 (Davao ICON 2019) is an indication of their interest in exploring opportunities in Mindanao, according to Dr. Maria Lourdes G. Monteverde, Davao ICON 2019 chairperson. EU countries participating in this year’s conference include the Netherlands, Sweden, Russia, France, Hungary, and Belgium. EU Ambassadors from Singapore, Mexico, and Romania were also present. Davao City Chamber of Commerce and Industry Inc (DCCCII) president Arturo M. Milan observed the presence of the ambassadors as merely observing security issues, especially considering that Mindanao is still under martial law. For his part, Lemuel G. Ortonio, officer-in-charge of the Davao City Investment Promotion Center, said, “The city is confident of achieving its target of 3 million tourist arrivals in 2019 with the addition of more international routes to and from Davao. In general the tourism industry in Davao is mainly driven by local tourists. However, in the past number of years we have seen a growth in foreign arrivals.” Topping international arrivals in Davao City are American, Japanese, Chinese, and Korean visitors. — Maya M. Padillo

PHL shares rise further after dovish Fed statement

By Arra B. Francia, Senior Reporter

SHARES CLIMBED on Thursday, as investors digested dovish comments from the United States Federal Reserve.

The benchmark Philippine Stock Exchange index (PSEi) eked out gains of 0.06% or 5.41 points to close at 8,022.42. The broader all-shares index likewise rose 0.18% or 8.81 points to 4,891.38.

“Market continued its upward momentum today on dovish comments by US Fed & possible easing of interest rates on its next meeting plus the optimism created by the possibility of Xi — Trump meeting in Japan at the G20 to resolve the US-China tariff trade war,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message on Thursday.

The US Federal Open Market Committee on Thursday decided to keep benchmark rates unchanged. It also kept a dovish policy stance due to increased uncertainties in the global economic outlook as well as muted inflation pressures.

This is in addition to the renewed optimism for the resolution of the US-China trade war, as US President Donald J. Trump earlier confirmed his meeting with Chinese President Xi Jinping by the end of the month.

The PSEi reflected the positive sentiment in Wall Street overnight, as the Dow Jones Industrial Average firmed up 0.15% or 38.46 points to 26,504. The S&P 500 index went up 0.3% or 8.71 points to 2,926.46, while the Nasdaq Composite index rallied 0.42% or 33.44 points to 7,987.32.

Most Asian indices also climbed on Thursday on the back of the Federal Reserve’s dovish comments.

“Investors in the Philippines quietly bought into the market as a precaution ahead of the BSP (Bangko Sentral ng Pilipinas) announcement…while others took profit early morning after it was confirmed the Fed would maintain their rates,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile phone message.

After the stock market’s close, the BSP announced that it also chose to keep policy rates steady as the outlook for inflation remained manageable.

Four sectoral indices moved to positive territory, led by mining and oil which jumped 1.87% or 134.01 points to 7,291.35. Industrials advanced 0.74% or 87.32 points to 11,777.60; financials gained 0.64% or 11.13 points to 1,743.24; while holding firms added 0.15% or 11.88 points to 7,668.32.

Meanwhile, property dropped 0.39% or 16.89 points to 4,304.55, while services shed 0.38% or 6.47 points to 1,692.40.

Some 1.88 billion issues valued at P6.74 billion switched hands, slimming from the previous session’s P7.30 billion.

Foreign investors remained in net selling mode for the second straight session at P588.08 million, ballooning from Wednesday’s P26.43 million.

Advancers outpaced losers, 121 to 71, while 49 names were unchanged.

Peso climbs to two-month high as Federal Reserve signals cuts

THE PESO strengthened further against the dollar on Thursday to hit a fresh two-month high, as risk appetite improved following the dovish statement of the US Federal Reserve.

The peso closed Thursday’s session at P51.645 versus the greenback, 24.5 centavos stronger than the P51.89-per-dollar finish recorded on Wednesday.

This was the peso’s best showing in more than two months or since it closed at P51.64 against the dollar last April 15.

The peso traded stronger the whole day, opening the session at P51.75 per dollar. It dropped to a low of P51.78 against the greenback, while its intraday high was its closing rate.

Trading volume dropped to $829.16 million from the $902.45 million that changed hands the previous session.

Traders attributed the peso’s continued strength to dovish remarks from the US central bank.

As expected, the Fed kept its policy unchanged during its June 18-19 meeting. However, it dropped its “patient” rhetoric on policy, saying it would “act as appropriate” to keep the economy growing amid trade tensions abroad and global growth slowdown.

Interest-rate futures surged in response to the dovish remarks, and traders are now betting heavily on three rate cuts by the end of the year. US stocks also turned higher.

“The peso appreciated following the remarkably dovish cues from the US Federal Reserve rate decision earlier today despite keeping policy rates steady,” a trader said in an e-mail on Thursday.

Another trader said the dovish statement of the Fed increased risk appetite in the market, prompting investors to gamble on emerging market currencies like the peso.

“We’re seeing the dollar-peso going very low, since the market was expecting a 25-basis-point cut by the Bangko Sentral ng Pilipinas (BSP), but the central bank kept its rate unchanged,” the trader added.

The BSP also kept its benchmark policy rates unchanged at its meeting yesterday. BSP Governor Benjamin E. Diokno said the pause in monetary policy easing will allow them to assess the impact of its previous adjustments, including the cuts in banks’ reserve requirement ratios.

The BSP also trimmed its full-year inflation forecast to 2.7% from the 2.9% projected last May, driven by the expectations of lower oil prices in the global market as well as the appreciation of the local unit versus the dollar.

“The local currency might continue to appreciate after the Philippine central bank held its policy rates today,” the first trader said on Thursday.

For today, the first reader expects the peso to move between P51.50 and P51.80 versus the dollar, while the other gave a P51.35-P51.75 range. — Karl Angelo N. Vidal with Reuters

Halal hotel services eyes Middle East market

MARCO POLO Davao (MPD) is now gearing to improve its Halal services to cater to the Middle East market following the recent launch of Doha-Davao direct route by Qatar Airways. “We are now preparing for our Halal friendly facilities. In the Cafe Marco we have the Halal section,” said MPD communications officer Jeline Mariz G. Galagar. The five-star rating recently conferred by the Department of Tourism (DoT) reaffirms Marco Polo Davao’s position as the creme de la creme accommodation at the heart of Davao. “We are the only hotel in Davao and in Mindanao being recognized with five star rating. Marco Polo always strive to be the preferred hotel in the city and in Mindanao,” MPD general manager Colin Healy said. “We will continue to improve our services. We will continue improving. We have the right team that is the key and strength of the hotel. My job is to mentor and take care of them, we reach out and listen to them and share experiences.” — Maya M. Padillo

Nation at a Glance — (06/21/19)

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 — (06/21/19)

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