Peso inches down at 57.11 vs US dollar

By Tiziana Celine Piatos, Manila Times

September 15, 2022

THE Philippine peso on Wednesday slightly depreciated against the United States dollar at P57.11 in the Philippine Dealing System, but recorded an intraday low of P57.27.

According to the Bankers Association of the Philippines (BAP), the peso trading opened at P57.1 against the dollar.

BAP data showed the peso traded from P57.1 to P56.27, averaging P57.202.

The peso exchange was weaker against the US dollar by 34 centavos, or 0.6 percent, to close at 57.11, the highest since Sept. 8, 2022, when it closed at P57.18.

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., told The Manila Times that the current peso exchange rate could lead to more aggressive local policy rate hikes by the Bangko Sentral ng Pilipinas.

However, Finance Secretary Benjamin Diokno said on Wednesday during the Development Budget Coordination Committee Briefing to the Senate of the Philippines on the Fiscal Year 2023 Proposed Budget that the impact of the Philippine peso depreciation against the US dollar is "favorable" to the country's budget.

He added that the "net effect of P1 depreciation is a P7.6 [billion] reduction in the country's budget deficit."

Earlier, Ricafort said the peso-dollar exchange rate could "seasonally improve" toward the end of the year after having fallen to record lows.

"The peso is expected to seasonally improve toward the end of the year in view of the seasonal increase in OFW (overseas Filipino worker) remittances and export revenues to be converted to pesos for holiday spending, based on the consistent patterns seen for many years/decades," he added.

However, the peso slightly depreciating on Wednesday also negatively affected investors' sentiment at the Philippine Stock Exchange, along with news from the United States that August inflation hit 8.3 percent or higher than expectations.

Marcos: Preserve environment

President Ferdinand "Bongbong" Marcos Jr. led the national simultaneous bamboo and tree planting event in San Mateo, Rizal to mark his 65th birthday on Tuesday. PHOTO BY JOHN RYAN BALDEMOR

By Catherine S. Valente, Manila Bulletin

(UPDATE) PRESIDENT Ferdinand "Bongbong" Marcos Jr. on Tuesday called on the public to unite in protecting and preserving the environment to "make sure that our plans for the country's economy will succeed."

In his speech, the President described the tree-planting activities as "simple yet impactful undertaking[s]" to protect the environment.

"The challenges we hurdled in recent years highlighted the fact that we have one Earth. We must spare no effort to ensure that it survives in the years to come," Marcos said.

"During my address [on the] State of the Nation, I made it clear: 'Preserving the environment is nothing less than preserving life.' And therefore, it can only be one of our important priorities if we wish to make sure that our plans for the country's economy will succeed," he added.

Marcos thanked the Department of the Interior and Local Government, the Department of Environment and Natural Resources (DENR) and the Department of Agriculture, for the collaboration that made the events in San Mateo and elsewhere possible.

"We have to do this as a concrete step that we take so that nature is cared for because it desperately needs that care and it desperately needs that attention," he said.

The President said this initiative "will greatly help in raising awareness on environmental welfare and protection."

He also thanked the nongovernment organizations present during the activity.

"Your presence in the selected areas across the country shows your commitment to prioritize Mother Earth and encourage everyone to unite for her benefit," he said. "Indeed, this initiative will contribute to the DENR's National Greening Program, the country's most ambitious reforestation program yet."

With the goal of reducing poverty, Marcos said, ensuring food security, environmental stability, conserving biodiversity, and mitigating climate change and adapting to climate change, more than two million hectares of reforestation sites were established from 2011 to 2021.

"An additional 46,265 hectares are expected to be developed in 2022. The DENR targets 11,631 hectares of enhanced National Greening Program sites in 2023," the President said. "And so, the seedlings that we will plant today will be significant in realizing this goal. This program will generate jobs, will generate opportunities and will generate livelihood for our countrymen."

The Chief Executive said more than the economic benefit of this activity, "we are essentially and primarily investing in ensuring that our planet remains a safe space."

Marcos' first 50 days: Gaining trust and control

"Never mind for us, but we are only custodians of this earth. But more so that we can say to the children, the Filipinos that follow us, that we have taken good care of that, which they will inherit," Marcos added.

"Trees and plants in general are vital to human existence. I thus wish that as we appreciate the impact of this endeavor, we also see it for the symbolic gesture that it is. It is a reminder for us to see past our personal interest and have the future in sight," he said.

Tuesday's kick-off ceremony of the "Buhayin ang Pangangalaga ng Kalikasan" is a government program that aims to plant 8,000 seedlings and bamboo planting stocks in Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon).

Compos mentis

The tree-planting sites are San Mateo in Rizal; Majayjay, Laguna; Trece Martires City, Cavite; Mataas na Kahoy, Batangas, and Dolores, Quezon.

World in ‘wrong direction’ as climate impacts worsen: UN

by Agence-France-Presse

PARIS, France – Humanity is “going in the wrong direction” on climate change due to its addiction to fossil fuels, the UN said Tuesday in an assessment showing that planet-warming emissions are higher than before the pandemic.

The UN’s World Meteorological Organization and its Environment Programme warned catastrophes will become commonplace should the world economy fail to decarbonise in line with what science says is needed to prevent the worst impacts of global heating.

They pointed to Pakistan’s monumental floods and China’s crop-withering heatwave this year as examples of what to expect.

“Floods, droughts, heatwaves, extreme storms and wildfires are going from bad to worse, breaking records with alarming frequency,” said UN Secretary-General Antonio Guterres.

The UN warned last month that the drought gripping the Horn of Africa and threatening millions with acute food shortages was now likely to extend into a fifth year.

“There is nothing natural about the new scale of these disasters. They are the price of humanity’s fossil fuel addiction,” said Guterres.

The UN’s United in Science report underscores how, nearly three years since Covid-19 handed governments a unique opportunity to reassess how to power their economies, countries are ploughing ahead with pollution as normal.

It found that after an unprecedented 5.4 percent fall in emissions in 2020 due to lockdowns and travel restrictions, preliminary data from January-May this year shows global CO2 emissions are 1.2 percent higher than before Covid-19.

This is largely down to large year-on-year increases in the United States, India, and most European countries, the assessment found.

“The science is unequivocal: we are going in the wrong direction,” said WMO Secretary-General Petteri Taalas.

“Greenhouse gas concentrations are continuing to rise, reaching new record highs. Fossil fuel emission rates are now above pre-pandemic levels. The past seven years were the warmest on record.”

Last week the European Union’s Copernicus climate monitor said that summer 2022 was the hottest in Europe and one of the hottest globally since records began in the 1970s.

Tuesday’s report said there was a 93 percent chance that the record for the hottest year globally — currently, 2016 — will be broken within five years.

It warned the continued use of fossil fuels meant the chance of the annual mean global temperature temporarily exceeding 1.5 degrees Celsius above pre-industrial levels in one of the next five years was roughly even (48 percent).

Keeping longer term temperatures below 1.5C is the most ambitious goal of the 2015 Paris Agreement.

Despite more than three decades of UN-lead negotiations, rich polluters show little sign of being willing to make the kind of swingeing emissions cuts that would keep the 1.5C goal in play.

The UN’s Environment Programme, in an update to its annual “emissions gap” assessment following new pledges made at last November’s COP26 summit in Glasgow, said Tuesday that even these promises were far from adequate.

In fact, it said the ambition even in countries’ most recent pledges would need to be four times greater to limit warming to 2C, and seven times higher to make 1.5C.

All told, current worldwide climate policies put Earth on course to warm 2.8C by 2100, UNEP said.

Guterres said that Tuesday’s assessment showed “climate impacts heading into uncharted territory of destruction”.

“Yet each year we double-down on this fossil fuel addiction, even as the symptoms get rapidly worse,” he said in a video message.

Tasneem Essop, executive director of Climate Action Network, said that the forthcoming COP27 climate conference in Egypt needed leaders to agree to new funding to help communities in at-risk nations rebuild after extreme events.

“The terrifying picture painted by the United in Science report is already a lived reality for millions of people facing recurring climate disasters,” she said.

Former BI chief-of-staff now new Immigration Commissioner

by Argyll Cyrus Geducos, Manila Bulletin

President Ferdinand “Bongbong” Marcos Jr. has named lawyer Norman Tansingco as the new Commissioner of the Bureau of Immigration (BI), Malacañang confirmed.

Bureau of Immigration

Press Secretary Trixie Cruz-Angeles made the confirmation after Tansingco’s appointment circulated on social media on Monday, September 12.

The President signed his appointment paper on Monday. 

Tansingco’s appointment came two weeks after reports circulated that Marcos had appointed lawyer Abraham Espejo Jr. as Immigration Commissioner.

Tansingco is no stranger to the BI. He has been with the Bureau for nearly a decade and was the chief-of-staff of former Immigration Commissioner Marcelino Libanan.

He was also once a technical assistant to the Commissioner.

The Bureau of Immigration enforces the country’s immigration and foreign nationals registration laws.

Justice Secretary Jesus Crispin Remulla once named BI a department that “needs their help.”

Remulla lamented that the BI was the “face of the country” but was embroiled with “extortion syndicate, human trafficking syndicate, and protection syndicates” issues.

Over the past years, the BI was under fire for the so-called “pastillas” scheme that was first exposed in 2020. Under this scheme, Chinese nationals had supposedly entered the country without background checks in exchange for bribes.

It was named “pastillas” because the rolls of grease money involved in the illegal activity, which had supposedly reached P40 billion in October 2020, looked like the said Filipino snack. 

Typhoon Inday exits PH area of responsibility; another tropical cyclone may enter PAR by Sept. 15 or 16

(PAGASA FACEBOOK PAGE)

by Ellalyn De Vera-Ruiz, Manila Bulletin

Typhoon Inday (international name: Muifa) left the Philippine area of responsibility (PAR) early Tuesday morning, Sept. 13, the State weather bureau said, as it monitors another tropical cyclone that may enter the PAR by Thursday or Friday, Sept. 15 or 16.

The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said Inday left the PAR at around 12:40 a.m., and was already 560 kilometers (km) north-northeast of Itbayat, Batanes as of 4 a.m.

It had maximum sustained winds of 140 kilometers per hour (kph) near the center and gustiness of up to 170 kph.

While the typhoon has already left the PAR, PAGASA said the extreme Northern Luzon may still experience wind gusts.

In the next 24 hours, the entire archipelago will have partly cloudy to cloudy skies with chances of rain showers or localized thunderstorms.

Meanwhile, PAGASA continues to monitor another tropical depression outside the PAR as of Tuesday morning.

In its 5 a.m. bulletin, PAGASA said the tropical depression was estimated at 1,720 km east of extreme Northern Luzon.

It has maximum sustained winds of 45 kph near the center and gustiness of up to 55 kph, while moving eastward “slowly.”

“Modest intensification is likely today (Sept. 13) through tomorrow (Sept. 14). By Thursday (Sept. 15), improving environmental conditions will enable the tropical cyclone to intensify at a relatively faster rate. Current forecast scenario shows that this tropical cyclone will enter the PAR as a typhoon,” PAGASA said.

PAGASA weather specialist Aldczar Aurelio said the cyclone may enter the PAR by Thursday or Friday, and once inside the PAR, the domestic name “Josie” will be assigned to this tropical cyclone.

Aurelio said that based on the latest track forecast, the tropical depression may only pass through the right corner of the PAR.

“This tropical cyclone is forecast to remain far from the Philippine landmass and not directly affect the weather condition in the country,” PAGASA said.

“However, it may enhance the southwest monsoon within the forecast period. This may bring monsoon rains over the western sections of Southern Luzon and Visayas beginning tomorrow (Sept. 14) or on Thursday (Sept. 15),” it added.

German Day of Unity 2022

 

Oil firms cut pump prices

By Eireene Jairee Gomez

September 12, 2022

Last September 5, oil companies lowered the cost of gasoline by P2.60 per liter, diesel by P1.55 per liter and kerosene by P1.60 per liter.

The Department of Energy said the year-to-date net increase have so far reached P16.95 per liter for gasoline, P36.25 per liter for diesel and P31.60 per liter for kerosene.

Davao de Oro officially opens Tourism Month Celebration

A display of locally-made products in Davao de Oro's provincial capitol lobby brandished various municipalities' tourism signatures in celebration of Tourism Month 2022.

The Tourism Division, headed by Senior Tourism Officer Christine Dompor and her team, spearheaded the opening celebration of Tourism Month through a showcase of tatak Davao de Oro products and services dubbed "TurisTiange" at the capitol lobby today, September 12, 2022. The TurisTiannge is part of the month-long array of activities, which marks the official kick-off of the celebration.

The municipalities of Compostela, Nabunturan, Maragusan, Mabini, Maco, and Pantukan took part in the event with their corresponding Municipal Tourism Officers. 

Governor Dorothy Montejo-Gonzaga, Provincial Administrator Fatima Montejo, Board Member Ruwina Gonzaga, and Board Member Vivencia Secuya graced the cutting of ribbon ceremony and visited the booths offered by the participating municipalities.

Gov Gonzaga, in her message, stated that the government would continue to develop and enhance the tourism industry as an economic driver in the province. "Swerte kaayo ang Davao de Oro kay naa kitay tulo (3) ka tourism circuits nga pwede masuruyan ug ikapang-hambog. Infact, naningkamot gyud ta nga mas mapalambo nato ang turismo sa atong probinsya," said Gov Gonzaga.

More tourism-related awaits the whole month of September. In the coming weeks, the tourism division will spearhead a series of Tourism training, the opening of the ice cream festival, Turismo awards, and the launching of DdO Circuits.

The division will also offer the "CapiTours Laag Treats" for government employees and will participate in the 9th Nabunturan Independent Film Exhibition in collaboration with LGU Nabunturan. (JA, PAO-IPRD DdO, photos by J. Cadiz).

Inday’s outermost rainbands may affect Batanes; monsoon rains persist in western parts of Central, Southern Luzon

(PAGASA FACEBOOK PAGE)

 

by Ellalyn De Vera-Ruiz, Manila Bulletin

Typhoon Inday (international name: Muifa) continued to move slowly away from the country’s landmass but its outermost rainbands may still bring rain showers and thunderstorms over Batanes, said the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) on Sunday, Sept. 11.

In its 11 a.m. bulletin, PAGASA estimated the center of the eye of Inday at 335 kilometers northeast of Itbayat, Batanes.

The typhoon was moving west-northwestward at 10 kilometers per hour (kph), while packing maximum sustained winds of 165 kph near the center and gustiness of up to 205 kph.

“Typhoon Inday remains less likely to directly bring heavy rains in the country throughout the forecast period. However, its outermost rainbands and the southwest monsoon may bring rain showers and thunderstorms over Batanes and the western sections of Central and Southern Luzon,” PAGASA said.

“The latest forecast scenario for Inday shows that while the hoisting of tropical cyclone wind signals remains less likely at this time, further westward shift in the track forecast and/or expansion in the extent of tropical cyclone winds may result in the hoisting of wind signals over portions of extreme Northern Luzon,” it added.

PAGASA said wind gusts may be experienced over extreme Northern Luzon on Monday, Sept, 12, “due to the channeling of the typhoon circulation in the Luzon Strait.”

In the next 24 hours, PAGASA said Inday may cause moderate to rough seas over the eastern seaboard of Northern Luzon.

“These conditions may be risky for those using small seacrafts. Mariners are advised to take precautionary measures when venturing out to sea and, if possible, avoid navigating these conditions,” it said.

Based on the latest track forecast, Inday may exit the country’s area of responsibility by Tuesday afternoon or evening, Sept. 13.

Metro Manila Covid positivity rate rising

People shop in Divisoria in Manila on Saturday, Sept. 10, 2022. FILE PHOTO BY MIKE ALQUINTO

By Kaithreen Cruz

(UPDATED) THE seven-day Covid-19 positivity rate in the National Capital Region (NCR) or Metro Manila rose by 1.2 percent increase — from 12.1 percent on September 2 to 13.3 percent on September 9, OCTA Research reported Sunday.

This increase was gleaned after an average of 10,247 daily RT-PCR tests were made over the past week.

The World Health Organization (WHO) sets a 5-percent positivity benchmark for declaring that Covid in a particular area is under control.

OCTA also noted that the reproduction number, referring to the number of new cases caused by one infected individual, also rose from 0.93 on August 31 to 1.11 on September 7.

"The reproduction number has increased to greater than 1, which means [Covid-19] infections are increasing," OCTA Research fellow Dr. Guido David said in a tweet on Sunday.

David said the slow uptick in cases was not unexpected since more people are on the move after some Covid restrictions were eased.

He advised the elderly and those with comorbidities to take extra precautions to avoid infection.

OCTA also said that the Covid-19 growth rate in the NCR increased to 6 percent from September 3 to 10, compared to the -17 percent from August 27 to September 3.

The average daily attack rate (ADAR) was also slightly up to 5.58 per day per 100,000 population, still considered low by the group.

Positivity rates in 8 provinces down

Hospital bed and intensive care unit (ICU) occupancy for Covid-19 patients remained low at 34.5 and 28.9 percent, respectively.

Last Friday, Department of Health (DoH) Officer in Charge Maria Rosario Vergeire reported that ICU and severe and critical admissions for Covid-19 that were trending down over the past weeks were showing signs of leveling.

Vergeire said cases in Mindanao have reached a plateau, while the remaining areas were on a slow downward trend.

The DoH also reported that more than 72.7 million Filipinos have been fully vaccinated against Covid-19 as of September 8, but only 18.4 million have had their first booster dose and 2.4 million their second booster shot.

Covid positivity rate in NCR dips

The DoH has stepped up its campaign to increase booster coverage among eligible individuals by setting up more than 19,000 vaccination sites nationwide.

It said 2.4 million of the campaign's 23 million targeted individuals were provided with first boosters, and 27,907 senior citizens of the 1.07 million target were vaccinated.

The department continued to remind the public to observe minimum health and safety standards to stay protected against Covid-19.