Good day. Here are the stories for The Manila Times for Wednesday, October 19, 2022.
READ: Gunman in Lapid slay surrenders
A MAN who admitted shooting and killing broadcaster Percy Lapid (Percival Mabasa) surrendered to Interior and Local Government Secretary Benhur Abalos Jr. on Tuesday. In a press briefing with officials ofthe Philippine National Police (PNP) in Camp Crame in Quezon City, Abalos presented Joel Estorial, a resident of QuezonCity, who revealed that there were six of them involved in the killing of Lapid. They reportedly were paid P550,000. Estorial said he surrendered out of fear after seeing his face on television. Five other suspects — brothers Edmun and Israel Dimaculangan, "Orly," and two John Does — are still at large and the subject of a police manhunt. Estorial said he was with Orly, a resident of Batangas, who was on a motorcycle, during the incident.
READ: Justice secretary will not resign
JUSTICE Secretary Jesus Crispin Remulla on Tuesday said he will not vacate his post over a possible conflict of interest despite calls for his resignation in connection with a drug-related case involving his eldest son. Facing reporters for the first time since the case, Remulla said he will no longer comment on the issue and it is up to President Ferdinand "Bongbong" Marcos Jr. to decide.
READ: Marcos ready to 'defend' peso
PRESIDENT Ferdinand "Bongbong"Marcos Jr. on Tuesday said his government is ready to "defend" the peso as the currency's slide continues to fuel inflation. Marcos made the statement following his meeting with his economic managers in Malacañang on Tuesday to discuss his administration's "policy directions for the rest of the year and the first quarter of next year."
READ: Health dept reports 81 XBB subvariant cases
THE Philippines has detected 81 cases of the XBB subvariant of the Omicron variant, the Department of Health (DoH) said on Tuesday. In a media briefing on Tuesday,Health Officer in Charge MariaRosario Vergeire said the cases were detected in Western Visayas and in the Davao Region. Seventy of the cases have recovered, while eight are under isolation. No one was reported to have died from the subvariant. Vergeire also said that 193 cases of XBC were detected in 11 regions, of which 176 have recovered, and five died. Vergeire said that there is no proof that the XBB variant can increase the severity of Covid-19. The subvariant was said to have fueled the Covid-19 spike in Singapore. It is said to have higher immune evasion than the other variants.
BUSINESS: Remittances drive PSEi rebound
Topping business, the Philippine Stock Exchange index (PSEi)returned to the 6,000 level on Tuesday, gaining 2.65 percent, or 158.31 points, to close at 6,128.64 as investors cheered an increase in money sent home by Filipinos working abroad. The Bangko Sentral ng Pilipinas reported on Monday that cash remittances coursed through banks had risen to $2.72 billion in August, up from $2.61 billion a year earlier. Personal remittances, meanwhile, picked up by 4.4 percent to $3.02 billion year on year. The PSEi was last in 6,000 territory on September 26, when it lost 3.83 percent to end the day at 6,020. It has now gained nearly 5 percent over the past five trading days but is still down short of 14percent from the start of the year. The peso, which closed Monday at P59:$1, gained 25 centavos to P58.75 on Tuesday.
SPORTS: Phoenix guns for 3rd straight victory
Over to sports, Phoenix Super LPG is shooting for its third straight win when it collides with Meralco in the 2022-23 PBA Commissioner's Cup today, October 19, at the Philsports Arena in Pasig City. The Fuel Masters have won their last two outings since opening the mid-season conference with three straight defeats. Game time is 3 p.m. Phoenix began its back-to-back win streak with a 111-97 victory over NLEX, before following up with a101-93 triumph over crowd favorite Barangay Ginebra last week. The Bolts are mired at 11th spot with their anemic 1-3 card, a record that is just slightly better than Terrafirma's 0-5 slate.
Rigoberto Tiglao and Marlen Ronquillo are today's front page columnists. Tiglao cites two columnists on First Lady Liza Araneta-Marcos being an "Imelda 2.0", while Ronquillo believes that the Philippine offshore gaming operator industry carries a big stick.
Today's editorial wants foreign direct investments to continue working in the country. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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For The Manila Times, this is Kim Isabelle Dignadice.