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No-fly zones set for 30th SEA Games opening, closing events

AREAS AROUND the Philippine Arena in Bulacan and New Clark City in Tarlac will be no-fly zones on Nov. 30 and Dec. 11 for the opening and closing ceremonies of the 30th South East Asian (SEA) Games, the Civil Aviation Authority of the Philippines (CAAP) announced on Tuesday. CAAP said the restriction, covering all aircraft and unmanned aerial vehicles (UAVs) or drones, is within three nautical miles and 40 nautical miles for general aviation flights. The no-fly order will be in effect from 6:00 a.m. to 11:00 p.m. CAAP said flights at the Clark International Airport — located about 73 kilometers (km) northeast of the Philippine Arena and 30 km south of the New Clark City — will not be affected.

Testimony of slain Korean businessman’s wife moved to Dec. 3

THE TESTIMONY of the wife of slain Korean businessman Jee Ick-Joo has been moved to Dec. 3 as Angeles City court Judge Eda P. Dizon-Era required the translator to first get an accreditation from the Korean Embassy. “The court required the prosecution to present first the accreditation of Mrs. (Kyung Jin) Choi’s Korean language translator from the Korean Embassy,” Senior Assistant State Prosecutor Juan Pedro Navera said in a mobile phone message. Mr. Jee and his housekeeper, Marisa Morquicho, were abducted from his residence in Angeles City on Oct. 18, 2016 during an alleged illegal drug-operation. Ms. Morquicho was released but the Korean businessman was killed at the headquarters of the Philippine National Police and his cremated remains were reportedly flushed in a toilet. Police Lieutenant Colonel Rafael P. Dumlao III, the alleged mastermind of the killing, Police Master Sergeant Ricky M. Sta. Isabel, and Jerry A. Omlang are facing charges for kidnapping for ransom with homicide, kidnapping and serious illegal detention, and carnapping. The court in April allowed Mr. Dumlao to post a P300,000 bail but denied the similar petitions of the others accused. — Vann Marlo M. Villegas

Continued rains over northern Luzon as tropical depression Sarah trails typhoon Ramon

TROPICAL CYCLONE Ramon (international name: Kalmaegi) has maintained its strength as it hovers off the northeastern side of Luzon, weather bureau PAGASA said in its 5 p.m. update yesterday. Landfall was predicted in the evening or Wednesday morning in the northern part of Cagayan or the Babuyan Islands. PAGASA Weather Specialist Benison Estareja said typhoon Ramon is expected to weaken after it hits land. Meanwhile, tropical depression Sarah, which started as a low pressure area, was already 710 kilometers east of Virac, Catanduanes as of 4 p.m. Tuesday. It is moving faster than Ramon at a north-westward direction and is forecasted to affect the same areas. Mr. Estareja said Sarah is likely to strengthen as it nears land. Ramon is expected to be out of the Philippine area by Thursday afternoon.

Regent Foods mulls moving factory out of Pasig

FOOD MANUFACTURER Regent Foods Corp. (RFC) is considering moving its operations out of Pasig after the city’s mayor, Victor “Vico” N. Sotto, publicly supported a strike staged by some of its workers.

In a post on its social media page, RFC criticized Mr. Sotto, who helped the 23 workers post bail after they were arrested on Nov. 9 following a violent dispersal at the picket line.

The mayor also asked the company to drop the charges against the 23 workers and work out the dispute. The company, on the other hand, questioned the legitimacy and peacefulness of the strike.

“Unfortunately, for the information of the general public, a minority group at RFC was able to conduct a strike recently, although the same was done outside the confines of the law,” RFC said.

“It had no legitimacy from the beginning since there is an existing sole and exclusive bargaining agent within the company. On top of this, the strikers also committed criminal activities during the conduct of their unlawful strike,” it said. RFC, which has been located in Pasig for three decades, said it “will not be cowed by the mayor’s threats.” “Moving forward, RFC may simply accept its fate that the Pasig City Administration will unjustly make life hard for it and its 400-strong workforce, and contemplate simply bringing its business elsewhere.”

Meanwhile, labor groups criticized the RFC comments and warned that countercharges will be filed against the company for unfair labor practices, abusive acts, and violent dispersal at the protest.

Defend Job Philippines, Regent Food Workers Union, and Unyon ng Manggagawa sa RFC called the company’s comments as false claims.

The labor groups said RFC workers, who went on strike starting Oct. 16, are protesting low wages, unpaid benefits, and union busting, among other issues. “No amount of defensive statements and baseless attacks against Mayor Vico can justify the long-drawn hardships of Regent workers for almost three decades of existence of this company,” Defend Job Philippines spokesperson Christian Lloyd Magsoy said.

In a separate statement, Associated Labor Unions-Trade Union Congress of the Philippines spokesperson Alan Tanjusay slammed RFC’s plan to relocate their business.

“It is regrettable that RFC management decided to relocate their business just because the city mayor decided and did the right thing by supporting the oppressed workers and condemning injustice,” he said.

“The decision to relocate for these reasons is a sign of immaturity. We dissuade them from doing so because it’s not the right thing to do. I hope they think otherwise and rethink. There are positive ways forward than relocating their business.” — Jenina P. Ibañez

Peso weakens vs dollar

THE PESO succumbed to the dollar on Tuesday amid the lack of clarity on a final trade deal between the world’s top two economies.

The local unit closed at P50.90 against the greenback on Tuesday, depreciating from the P50.66-a-dollar close on Monday, according to data from the Bankers Association of the Philippines.

The peso opened the session at P50.79 against the dollar. Its weakest point for the day was at P50.89, while its best showing was at P50.74 versus the greenback.

Dollars traded climbed to $959.75 million from $884.8 million seen on Monday.

Analysts attributed the peso’s weakness to jitters arising from uncertainties in the US-China trade talks.

“The peso exchange rate weakened…the weakest in three weeks amid higher US dollar versus major Asian currencies amid some doubts particularly on China’s skepticism on a broad trade deal with the US anytime soon,” Rizal Commercial Banking Corp. chief economist Michael L. Ricafort said in a text message.

“The weakness may probably have been due to the closely watched trade negotiations between the US and China. It’s like waiting to exhale, where both sides unanimously agree for the initial phase of the trade agreement,” UnionBank of the Philippines, Inc. chief economist Ruben Carlo O. Asuncion said in a text message.

CNBC reported that Beijing looked pessimistic on prospects of a finality of their trade agreement with the world’s biggest economy.

Meanwhile, bright spots are on the other side as Washington approved for a new extension of allowing US companies to continue business proceedings with Chinese telecoms giant Huawei.

The next deadline for the trade deal is on Dec. 15 which will be the start of another round of US tariffs on Chinese goods.

For today, Mr. Ricafort sees the peso trading at P50.70 to P51 versus the dollar, while Mr. Asuncion expects the local unit to move within P50.70-51.10 against the dollar. — LWTN with Reuters

Cebu provincial gov’t awards more road projects

THE CEBU provincial government has awarded more road concreting projects to different contractors amounting to P178.2 million. This is in addition to the P530 million worth of similar projects that were earlier awarded. The funds are sourced from the P1.38 billion additional budget proposed by Governor Gwendolyn F. Garcia and approved by the provincial board in August, of which P800 million has been allocated for the road network construction and rehabilitation. The projects include the P6-million concreting of Liki-Cabagdalan Road Section and P24-million Poblacion-Lamesa Road Section in Balamban, awarded to WTG Construction and Development Corp. The others are: P11.8 million for the Mangga-Sto. Niño Road Section in Tuburan won by April Rose Enterprises and Builders; P36-million Zaragosa-Rosario Road Section in Aloguisan under Quirante Construction; P24 million for the concreting of select road sections in 24 barangays in Pinamungajan, under B.L. Pangan Construction. The provincial board has also passed corresponding resolutions giving authority to the governor to sign the contracts with the winning bidders. — The Freeman

Bourse climb as Wall Street rises on trade talks

PHILIPPINE SHARES rebounded on Tuesday following Wall Street’s positive performance overnight amid developments in the Sino-US trade negotiations.

The 30-member Philippine Stock Exchange index (PSEi) rose 31.2 points or 0.39% to close at 7,912.14 on Tuesday, putting an end to four consecutive days of decline. The broader all shares index also improved 9.46 points or 0.2% to 4,729.72.

“With US market up last night on continued positive development on US-China trade negotiation, market went on bargain hunting today after several days of correction,” Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message on Tuesday.

The Dow Jones Industrial Average rose 31.26 points or 0.11% to close at 28,036.15; the S&P 500 gained 1.55 points or 0.05% to 3,122.01; and the Nasdaq Composite added 9.11 points or 0.11% to 8,549.94.

Aside from Wall Street’s climb, Regina Capital Development Corp. Head of Sales Luis A. Limlingan said the PSEi rose simply because investors “digested mixed headlines on US-China trade relations.”

CNBC reported on Monday that Chinese officials were pessimistic about the trade deal with US, following comments of US President Donald Trump that he has not agreed to roll back tariffs on Chinese goods.

On the other hand, several foreign news outlets reported the US Commerce Department has extended its reprieve on Chinese tech giant Huawei Technologies Co., Ltd. to engage in exporting with American companies.

Mr. Limlingan said amid these developments, investors decided to buy into the Philippine market.

All sectoral indices at the PSE advanced on Tuesday’s close. Mining and oil added 50.92 points or 0.59% to close at 8,601.01; financials climbed 9.07 points or 0.47% to 1,919.01; holding firms gained 34.71 points or 0.44% to 7,806.99; services inched up 5.72 points or 0.37% to 1,549.57; industrials improved 21.09 points or 0.21% to 10,037.24; and property added 2.09 points or 0.05% to 4,075.63.

Some 1.32 billion shares worth P6.22 billion changed hands on Tuesday, up from Monday’s 430.55 million shares worth P4.32 billion.

Declining stocks outnumbered those that gained, 100 against 88, while 50 names ended unchanged. Foreign investors sold their shares anew, with net outflow on Tuesday amounting to P1.03 billion, a reversal of Monday’s net foreign buying worth P100.23 million.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail that the PSE is “not out of the woods yet” despite the main index’s gain.

“The general investor sentiment remains extremely cautious and no one is willing to get in until we see either a decrease in selling pressure or a pick-up in buying. In the meantime, the market will remain in limbo until investors start to believe that there is light at the end of the tunnel,” he said. — Denise A. Valdez

Education gets biggest share at P19B in BARMM 2020 proposed budget

EDUCATION IS getting P19 billion in the proposed 2020 budget of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), the biggest share among all sectors. “(T)he Ministry of Education will work to ensure that no Bangsamoro child is left behind in terms of education,” Chief Minister Ahod Murad Ebrahim said in a statement on Tuesday. He presented the 2020 budget before the Bangsamoro Transition Authority on Monday. Under the proposed national budget for next year, BARMM is getting an allocation of P70.6 billion, including the P63.6 billion block grant that is provided under the Bangsamoro Organic Law. The rest covers P5 billion

for the special development fund, and P2 billion as the region’s share in national taxes. The BARMM, which replaced the ARMM, was established this year and will receive its first block grant in 2020. The BARMM will undergo a three-year transition period. Around P9 billion in next year’s regional budget will be spent for the creation of offices such as the Bangsamoro Planning and Development Authority, Youth Commission, Sports Commission, the Attorney General’s Office, and the Bangsamoro Economic and Development Council, which will serve as a policy-making body.

MARAWI REHAB
Mr. Ebrahim said about P500 million in the regional budget has been allocated for Marawi City. “We have also allotted around P500 million to help in the rehabilitation and recovery of Marawi City,” he said, adding that they are hoping for a “sense of healing” for “our brothers and sisters there.” The Marawi rehabilitation program is being undertaken by the inter-agency Task Force Bangon Marawi, led by Eduardo D. del Rosario, chair of the Housing and Urban Development Coordinating Council, with the secretaries of Defence and Public Works and Highways. “We have crafted a Bangsamoro Expenditure Program (BEP) consistent with our twelve-point priority agenda and our goal for moral governance,” Mr. Ebrahim said.

Another earthquake shakes Mindanao; epicenter in Bukidnon town

A MAGNITUDE 5.9 earthquake shook Mindanao at 9:22 p.m. Monday, with epicenter in Kadingilan, Bukidnon and reported intensities of up to six in different parts of the southern mainland. The tremor comes after three stronger earthquakes in October at magnitudes 6.3 to 6.6 with epicenter in Tulunan, Cotabato. The Kadilingan local disaster management office said no death was immediately reported but at least four people were injured and have been brought to nearby hospitals. Based on the rapid damage assessment, at least 100 houses were affected, with several totally damaged, while a number of public buildings, including schools and government offices, were partially damaged. Classes were suspended on Tuesday to give way to a more thorough inspection. As of 9:45 Tuesday morning, the Philippine Institute of Volcanology and Seismology has recorded 42 aftershocks.

Russian, Indian business delegations in Davao this week

DELEGATIONS FROM Russia and India are expected to arrive in Davao City Wednesday to explore potential investment and business-to-business deals, according to Davao City Chamber of Commerce and Industry President Arturo M. Milan. A group from 57 executives from Malaysia, representing 38 companies, also arrived on Tuesday in a visit organized by the Malaysian External Trade Development Corp. On the Russian delegation, Mr. Milan said in a text message, “They want to forge regional cooperation in agriculture, health care and science.” The group from India, meanwhile, “wants to network with the ICT industry,” he said. — Carmelito Q. Francisco

Nation at a Glance — (11/20/19)

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 — (11/20/19)

No reversal in rice import policy, NEDA’s Pernia says

SOCIOECONOMIC Planning Secretary Ernesto M. Pernia said Tuesday that the government has no plans to halt rice imports as reversing this policy could cause a renewed spike in inflation.

On the sidelines of an event in Ortigas district yesterday, Mr. Pernia said that opening up the market to cheaper imported rice has helped the “bigger majority” of the population after inflation felt by low-income families eased to 0.9% in September.

If the Philippines stops importing cheaper rice, it could see the return of 2018’s inflation crisis.

“Well, we will be back to where we were last year and the poor will suffer. Inflation for the 30% poorest has come down to 0.9% (this year); the much bigger majority is benefitting,” he told reporters when asked about the negative impact of halting imports.

Inflation slowed further to 0.8% in October from the multi-year highs recorded last year. Year-to-date inflation is currently 2.6%, which falls within the central bank’s 2-4% target range.

The Rice Tariffication Law has been cited as one of the factors that helped ease inflation, with cheaper foreign grain also expanding supply.

Mr. Pernia however assured that the government has implemented several measures to “alleviate the difficulties of farmers,” including unconditional cash transfers and loans.

On Monday, the Department of Finance (DoF) said it will take a closer look at “possible distortions” in the rice market, citing the wide gap between the retail price of rice and the farmgate price paid to farmers. It estimated the gap at an average of P22 per kilogram.

Rice industry stakeholders have been pressing the government to repeal the Rice Tariffication Law to provide relief for farmers.

Meanwhile, Mr. Pernia also said he supports exploring other measures to address high sugar prices, as proposed by Finance Secretary Carlos G. Dominguez III.

Mr. Pernia said restructuring the sugar industry will be a “challenge” for the government, noting that there are “too many middlemen involved in the process.”

Mr. Dominguez, who had earlier proposed to liberalize sugar imports with rice tariffication as a model, last week proposed to increase the millers’ share of the sugar crop to provide them with more incentive to upgrade their equipment, thereby improving yields.

After the Senate issued a resolution opposing liberalized sugar imports, he proposed “a new kind of relationship between a mill and the planter” as an alternative.

Mr. Pernia said the liberalization of sugar imports can be resorted to “slowly” while considering other measures.

“We’ll try other steps first, if they succeed then there may be no need for a full-scale liberalization,” he said.

The DoF has cited the need to lower sugar prices in order to make the food industry more competitive. — Beatrice M. Laforga

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