Good day. Here are the stories for The Manila Times for Thursday, May 2, 2024.
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BANNER: 'China slowly taking over Rozul Reef'
THE Chinese presence in Rozul (Iroquois) Reef inside the Philippines' exclusive economic zone (EEZ) is gradually growing, a maritime transparency project that monitors and reports activities in the South China Sea said. The seabed off Rozul Reef, which lies 125 nautical miles off Palawan, was the subject of recent extensive underwater surveys conducted by the Philippine Coast Guard (PCG) that found severe damage inflicted upon the marine environment and coral reefs where 33 Chinese maritime vessels were monitored to be "swarming" for more than a month, from Aug. 9 to Sept. 11, 2023. Retired US Air Force Col. Ray Powell, director of SeaLight, said China's maritime militia has once again returned to Rozul Reef and has established a "semi-permanent presence" there. Powell said recent satellite photos show the size and composition of China's current presence in the area. He said SeaLight, through its partnership with SkyFi, obtained an April 22 satellite photo showing two groups of rafted Chinese ships at the southern end of the reef—one group composed of five ships and one group composed of two.
Chinese harassment detrimental to peace – US
THE United States said the repeated harassment of Philippine vessels by Chinese ships near Scarborough Reef (Panatag Shoal) is detrimental to regional peace and stability. The China Coast Guard (CCG) and Chinese Maritime Militia vessels on Tuesday water cannoned and rammed vessels of the Philippine Coast Guard (PCG) and the Bureau of Fisheries and Aquatic Resources (BFAR) en route to Panatag Shoal (Bajo de Masinloc) to bring food and supplies to Filipino fishermen in the area.
Marcos orders review of minimum wage rates
PRESIDENT Ferdinand Marcos Jr. on Wednesday ordered the Regional Tripartite Wages And Productivity Board to review the minimum wage rates in every region in a Labor Day directive, but militant workers who marched toward the Palace before they were stopped by anti-riot police demanded a legislated across-the-board increase instead. Marcos issued the directive during the Labor Day with the President event in Malacañang, where he reaffirmed his administration's commitment to champion the rights of Filipino workers under a "Bagong Pilipinas (New Philippines)."
Electricity market suspended to avoid spike in power bills
THE Energy Regulatory Commission (ERC) has temporarily suspended the operation of the Wholesale Electricity Spot Market (WESM) during red alerts to mitigate the anticipated increase in electricity prices, President Ferdinand Marcos Jr. said Wednesday. In his speech during a Labor Day event in Malacañang, Marcos said the ERC declared the suspension of WESM operations based on notices issued by the system operator, the National Grid Corp. of the Philippines (NGCP).
Residents worry about floating solar farm on Caliraya Lake
A FLOATING solar farm on Caliraya Lake in Lumban, Laguna, that aims to produce 250 megawatts (MW) of power for the national grid has stirred concern from establishments in the area and even from supporters of renewable energy. Nestled within the municipalities of Lumban, Cavinti, and Kalayaan in Laguna province, Lake Caliraya is a man-made water reservoir that came into existence following the construction of Caliraya Dam, which generates hydroelectric power for the Southern Luzon grid. Throughout the years, Lake Caliraya has gained popularity as a hub for water sports, outdoor recreation and fishing, and it is now encircled by several resorts and vacation homes. Now, resort owners, residential managers and environmentalists have expressed concerns about the construction of floating solar panels over Caliraya and Lumot lakes, fearing potential disruptions to tourism, livelihood and wildlife. They say they support renewable energy but believe solar installations should not be on water bodies.
BUSINESS: Hot money flows negative in March
Topping business, short-term foreign investments turned negative in March as outflows surged and inflows contracted compared to the previous month, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday. Foreign investments registered with the central bank through authorized agents, also known as "hot money" as the funds are frequently moved to maximize profits from interest rates, recorded a net outflow of $236 million. This was a reversal from February's net inflow of $689 million. Overall inflows for the month were $1.4 billion, 9.1 percent down from February's $1.5 billion, while gross outflows ballooned by 91.4 percent to $1.6 billion from $859 million. The funds were mostly invested in Philippine Stock Exchangelisted securities (56.7 percent or $798 million) — banks, holding, property, transportation, and food, beverage and tobacco firms — and the rest in peso government securities (43.3 percent or $610 million). Most of the short-term investments came from the United Kingdom, Singapore, the United States, Switzerland and Luxembourg, which had a combined share of 83.6 percent.
SPORTS: Catantan hopes for support for PH fencing
NOW that the Paris Olympics berth has been secured, Filipino fencer Samantha Catantan calls for support from potential sponsors so that she and fellow fencers from the national team would get more international competitions in various FIE-sanctioned tournaments. Catantan earned a spot in the Paris Olympics after she bagged the gold medal in women's foil during the Asian and Oceania Olympic Qualification Tournament in Fujairah, United Arab Emirates. Catantan bested Sofiya Aktayeva of Kazakhstan, 15-14, in the finals to become only the third Filipino fencer to get to the Olympics, and the first in 32 years, or since the 1992 Barcelona Olympics when Walter Torres, now a Philippine Sports Commission commissioner, saw action in that edition of the Summer Games. In 1988, Percival Alger was the first Filipino to represent the country in fencing in the Seoul Olympics. Also, the 22-year-old Catantan was the first fencer to make it in the women's category.
Antonio Contreras and Danton Remoto are today's front page columnists. Contreras talks about misreading the precautionary principle, while Remoto looks into the issues surrounding the app TikTok.
Today's editorial looks into the latest issues in the South China Sea. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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