17 mines to be put under 2nd audit round – DoF »Story on B1 HH
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Coup possible, Palace warns BY CATHERINE S. VALENTE
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RESIDENT Rodrigo Duterte has warned the public that the military could mount a coup d’etat because problems on corruption, illegal drugs, terrorism and rebellion persist, Malacañang said on Tuesday.
The President said on Monday the military was getting restless, and called on lawmakers to work to change the Constitution. “Ang premise n’un (The premise is that) under the Constitution, the
AFP (Armed Forces of the Philippines) is the protector of the people. So, kung ang military alam nila na maraming kalokohan, maraming corruption… nagre-react sila d’un bakit ganyan (So, if the military knew
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Duterte enfeebles oligarch-owned and US media’s power
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ASED o n the latest Social Weather Stations’ poll, President Duterte has emerged as the most popular president in our post-EDSA history, with a remarkable 80 percent of Filipinos satisfied with his leadership.
RIGOBERTO D. TIGLAO
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Constitutional hermeneutics
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WAS interviewed by Te d Failon this morning who asked about the case filed by my good friend, Philippine lawyer and Australian Solicitor Vladimir Cabigao, and other petitioners who asked the Supreme Court about the constitutionality of the election of senators who had already served two consecutive terms in the Upper House*. äAquinoA5
KILLER INSTINCT
Sweat flies off Emmanuel ‘Manny’ Pacquiao as the fighting senator works the mitts with training consultant and longtime trainer Freddie Roach at the Wild Card Gym in Los Angeles, California. PHOTO BY WENDELL ALINEA
FR. RANHILIO CALLANGAN AQUINO
»See story on D1
LAWMAKERS NOT TOO HOT ON CAYETANO AS SPEAKER TAGUIG Rep. Alan Peter Cayetano would be recognized as speaker of the House of Representatives in def-
erence to President Rodrigo Duterte, lawmakers said on Tuesday Lawmakers who initially sup-
What’s inside AMAL CLOONEY TO JOIN MARIA RESSA’S LEGAL TEAM
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SPANISH FIRM TO SUPPLY AMMO TO PH NAVY
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MANNY PIÑOL WAYLAID BY TECHNOCRATS
Marlen RonquilloA4
EGYPTIAN TERRORISTS HERE TO TRAIN SUICIDE BOMBERS – ANALYST
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LTFRB FIRM ON STAND VS COLORUM DRIVERS
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n PhilHealth President Ricardo Morales. PHOTO BY RUY MARTINEZ
ported other speaker hopefuls said they would listen to the President
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Bong Go seeks longer terms for barangay, SK officials SEN. Christopher Lawrence “Bong” Go has filed a bill seeking to extend the terms of office of barangay (village) and Sangguniang Kabataan (SK or Youth Council) to give them “ample time and continuity to pursue and implement the programs they have set in their respective jurisdictions.” Go’s bill calls for the postponement of the barangay and SK elections slated on May 2020 to October 2022. “The barangay are the frontlines in the delivery of government services and in the campaign against illegal drugs and criminality. That’s the reason why we should give
Duterte to PhilHealth chief: Start purge THE new president and chief executive officer of the Philippine Health Insurance Corp. (PhilHealth) said President Rodrigo Duterte had told him to set an example by pursuing corrupt officials of the state health insurance system. “The exact word of the President is ‘sampolan mo’ (Make an example of these officials),” former military
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Chang named US ambassador to Manila?
DAWN ZULUETA LONG BEEN AFTER MICHAEL V. EntertainmentE4
MANILA was abuzz on Tuesday on the reported appointment of Deputy Assistant Secretary Mina Chang as US Ambassador to the Philippines. Chang, 32, currently serves as the deputy assistant secretary for the Bureau of Conflict and Stabilization Operations. According to the US State Department website, Chang has extensive experience on the ground in
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17 mines to be put under 2nd audit round – DoF T HE interagency Mining Industry Coordinating Council (MICC) will begin conducting the second round of its “objective, science-based and factfinding” audit of mining operations in the fourth week of July, the Department of Finance (DoF) announced on Tuesday. In a statement, Finance Undersecretary Bayani Agabin said the review, covering 17 mining operations na-
tionwide, “will be conducted by the same technical teams that undertook the first round of reviews last year
covering 26 mines.” The mining operations were not identified. “The MICC will complete the review and management teams in the second and third week of July. We will tap around 15 experts from the same technical teams that did the first audit,” he added. According to the official, the experts will be divided into three teams with
five members each, and have senior and junior technical and research assistants to help them. The MICC will commission the review that will cover the environmental, economic, social, legal and technical aspects of the 17 mines. In an email to The Manila Times, Agabin said his department was “finalizing the terms of reference for the
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Why are public Absence of Public-sector loans up 111% in 2018 stockholders not leads pushes represented in the board? PSEi down R THE stock market finished slightly lower on Tuesday amid the lack of market-moving developments. The bellwether Philippine Stock Exchange index (PSEi) dropped by 0.12 percent or 9.48 points to close at 8,042.04, while the broader All Shares declined by 0.26 percent or 12.73 points to end at 4,900.74. “Lack of catalysts amid tempered rate-cut hopes from the Federal Reserve (Fed) pulled the local market” down, Philstocks Financial Inc. said in a market note.
äPSEi B4
PUBLIC-SECTOR loans approved by the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board increased by 111 percent to $7.355 billion last year from $3.486 billion in 2017 as the government ramped up spending on infrastructure. In a statement on Tuesday, the central bank said these loans consisted of $3.602-billion bonds, 12 projects loans amounting to $2.583 billion and three program loans worth $900 million. “These public-sector borrowings will fund projects on transport connectivity (roads, railways, port and
airport infrastructure), irrigation and agriculture development, flood management, and the reconstruction and development of Marawi City,” it added. Out of the total publicsector loans approved, $1.359 billion will fund five infrastructure flagship projects under the government’s Build Build Build program. These are the first phase of the Metro Manila Subway Project ($941.92 million); Chico River Pump Irrigation Project ($62.09 million); New Cebu International Container Port Project ($172.64 million); second
phase of the New Bohol Airport Construction and Sustainable Environment Protection Project ($39.43 million); and the Cavite Industrial Are Flood Risk Management Project ($143.53 million). “While public-sector loans increased year-onyear, the country’s external debt position remains at prudent levels,” the BSP said. The country’s outstanding external debt reached $80.4 billion as of end-March, a 1.9-percent increase from $79.0 billion as of end-December. It was also higher
äLoans B4
EPUBLIC Glass Holdings Corp. (REG) reported in a public ownership report (POR as of June 30, 2019 having issued 738,314,299 common shares, of which 56,248,667 were treasury shares leaving the company with 682,065,632 outstanding common shares. Nine of REG’s directors directly held 3,442,585 REG common shares, or 0.47 percent, except Corazon S. Dela Paz-Bernardo and Celso P. Vivas, who each directly owned a nominal share. Being the owner, Geronimo F. Velasco Jr. is Republic Glass’ top
stockholder. He owned 2,904,010 REG common shares, or 0.42 percent, or 0.426 percent as recomputed. Republic Glass has only one principal stockholder in GERVEL Inc., which directly owned 462,417,595 REG common
äPerez B2
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