Manila Standard - 2022 June 25 - Saturday

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NILAD FESTIVAL. Various groups and agencies joined in the street dancing and float parade called NILAD Festival from the Quirino Grandstand in Manila, which celebrated the 451st Araw ng Maynila. Inset shows Mayor Isko Moreno Domagoso, Mayor-elect Honey Lacuna, and Manila Police District Director Brig. Gen. Leo Francisco in the wreath-laying ceremony at the tomb of Miguel Lopez de Legazpi—the Spanish explorer who founded Manila—inside the San Agustin church in Intramuros. Norman Cruz

VOL. XXXVI • NO. 129 • 3 SECTIONS 12 PAGES • P18 SATURDAY, JUNE 25, 2022 • www.manilastandard.net • mst.daydesk@gmail.com

Peso fall snaps oil rollback

Peso drops further to 54.98 vs US$ to push pump prices up slightly

By Alena Mae S. Flores and Maricel V. Cruz

O

IL prices will go up by about P1 per liter for diesel and kerosene because of the peso’s depreciation against the US dollar, the Department of Energy (DOE) said Friday.

15,000 POLICEMEN TO SECURE MARCOS INAUGURAL NEWS / A4 NIGHT AT THE MUSEUM. The facade of the National Museum of the Philippines in Manila City is illuminated at night by different colored lights on Thursday. The venue has been spruced up for the inauguration of President-elect Ferdinand Marcos Jr. on June 30. Avito Dalan

The peso sank to its weakest closing level in over 16 years after it closed at P54.985 to a dollar on Friday -- the worst performance of the currency since October 27, 2005, when it ended at P55.08 to a dollar. Energy Secretary Alfonso Cusi said that in the past four days, the softening of the peso has resulted in about a P1 per liter increase for diesel and kerosene but said gasoline prices may actually decline. The peso plunged for the fifth straight week by P1.235 or 2.3 percent. Since the start of the year, it had Next page

DOH: No weak surge yet despite Rody handling of WPS issue, oil talks hailed 4-month high COVID new cases By Willie Casas and Macon Ramos-Araneta THE Philippines logged 770 fresh COVID-19 cases Friday, the highest daily tally since March 7, data from the Department of Health (DPH) showed. The number of people currently posi-

tive for the coronavirus stood at 6,068, the highest since May 1. This is the highest number of cases logged in a single week in 13 weeks, or since the week of March 14 to 20 when 3,481 cases were reported. The country's total confirmed cases climbed to 3,699,251. Next page

PRESIDENT Rodrigo Duterte handled the maritime dispute in the West Philippine Sea “carefully and decisively,” Presidential Communications Secretary Martin Andanar said on Friday, a day after the outgoing Chief Executive also ordered the end of talks with China on oil and gas exploration in the disputed waterway. “The China-Philippine relationship has been placed on a better platform and

has now been... better than what we experienced the last six years,” Andanar said in a media forum. “This is exhibited by his unrelenting stance on the West Philippine Sea where he again mentions that the 2016 arbitral award - a significant contribution to the body of international law particularly the 1982 UNCLOS and that it singles out no one.” Former Ambassador Albert Del Rosa-

rio also lauded the government for pulling back from oil and gas discussions with China, even as he called on the incoming Marcos administration to look for new energy sources for the country. In a statement, Del Rosario thanked outgoing Foreign Affairs Secretary Teodoro L. Locsin Jr., who announced on DFA’s 124th Founding Anniversary on Next page

Carlos vows HR Sandigan allows Marcoses to get protected chance to present evidence under BBM gov’t By Maricel V. Cruz INCOMING National Security Adviser Clarita Carlos promised to emphasize individual human rights under the Marcos administration, as she reiterated that she was in favor of the International Criminal Court’s investigation into the alleged extrajudicial killings under President Rodrigo Duterte’s campaign against illegal drugs. “Human rights are primary, as human Next page

THE Sandiganbayan has given Presidentelect Ferdinand Marcos Jr. and his family another chance to present evidence in connection with a civil case involving allegedly ill-gotten wealth filed by the Presidential Commission on Good Government in 1987. In a 13-page resolution, the anti-graft court denied the Philippine government's motion to declare that the defendants have waived their right to present evidence for

failure to appear at the August 13, 2019 court hearing allotted for them. The ruling issued by the Sandiganbayan Second Division was signed by Associate Justices Arthur Malabaguio, Oscar Herrera and Michael Frederick Musngi. In allowing the Marcoses to present evidence, the anti-graft court said the family "deserves a chance to be heard in the interest of justice." "Admittedly, defendant Marcos, Jr. et. al. did not attend the hearing dated 13 Next page

Extension of village chiefs’ term from 3 to 5 years eyed from three years to five years, Executive Secretary-designate Vic Rodriguez said THE incoming Marcos administration Thursday. “We are studying thoroughly the is considering legislation that would extend the term of barangay officials plus and the minuses of spending or

By Rey E. Requejo

calling for elections and there is nothing definite yet," Rodriguez said when asked if the barangay and Sangguniang Kabataan elections would push through in December. Next page

End of an era: PSE floor trading no more By Jenniffer B. Austria THE Philippine Stock Exchange, one of Asia’s oldest bourses, on Friday permanently closed down its trading floor in Bonifacio Global City, Taguig. PSE said it decided to shift to floorless trading given the technological

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LAST BELL. Officials of the Philippine Stock Exchange stand beside the bells that mark the open or close of trading on Friday as one of Asia’s oldest bourses on Friday permanently closed down its trading floor in Bonifacio Global City, Taguig, thanks to a shift in digitalization and automation. PSE Photo


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