BusinessMirror April 24, 2024

A CLUSTER OF EARTHQUAKES SHAKES TAIWAN AGAIN, DAMAGING BUILDINGS BUT CAUSING NO CASUALTIES THE

By Cai U. Ordinario @caiordinario

Hinterest rates and current geopolitical risks that threaten to cause a spike in oil and food prices are not enough reasons for the national government to give up on its growth targets this year, according to the country’s chief economist.

Socioeconomic Planning Secretary Arsenio

M. Balisacan noted the optimism of international observers who still believe the Philippine economy will grow around 6 percent or better and be among the fastest-growing economies in Asia this year.

The Asian Development Bank (ADB) and the International Monetary Fund (IMF) forecast that the country’s GDP will breach 6 percent this year and next year. The World Bank, meanwhile, expects Philippine GDP to grow 5.9 percent annually between 2024 and 2026.

“All of the major development observers are seeing a six percent at least for the Philippines this year. The IMF, the ADB, the World Bank are all seeing a quite good number. In fact, in the latest ADB report they put us as the highest performer for 2024 [in Southeast Asia],” Balisacan recently told reporters in an interview.

“So even though [the growth is] not as high as we targeted in the beginning of this administration, the fact that while everybody was downgraded or while we were downgraded in terms of the absolute level of growth, [we were still] among the best [and] are expected to perform among the best in Asia,” he added.

Earlier, the Bangko Sentral ng Pilipinas [BSP] said it could delay any rate cuts to the first quarter of 2025, pending improvements in the country’s economic performance, including cooler inflation. (See: https://businessmirror.com.ph/2024/04/09/inflation-mayprompt-rate-cuts-delay-to-2025/)

AMARINE park off the coast of Coron Island in Palawan was recently awarded the silver-level Blue Park Award for exceptional marine biodiversity conservation by the Seattle-based Marine Conservation Institute.

With the award, Siete Pecados Marine Park in northern Palawan joins Tubbataha Reefs Natural Park and Apo Reef Natural Park as the third Blue Park in the Philippines. Tubbataha Reef was awarded in 2017 and Apo Reef in 2022.  It will receive $6,000 and join a growing network of 30

ASIAN countries like the Philippines are warming faster than the global average, according to a new report from the World Meteorological Organization (WMO).

In the State of the Climate in Asia 2023 report, WMO said the warming trend has nearly doubled since the 1961–1990 period.

The report said the Philippine Sea along with the North-Western Arabian Sea and the seas east of

Japan have seen temperature increases that are more than three times faster than the global mean upper ocean warming rate.

“The report’s conclusions are sobering. Many countries in the region experienced their hottest year on record in 2023, along with a barrage of extreme conditions, from droughts and heatwaves to floods and storms. Climate change exacerbated the frequency and severity of such events, profoundly

impacting societies, economies, and, most importantly, human lives and the environment that we live in,” said WMO Secretary-General Celeste Saulo in a statement.

In 2023, the WMO reported that sea-surface temperatures in the north-west Pacific Ocean were also the highest on record. The specialized agency of the United Nations also said even the Arctic Ocean suffered a marine heatwave.

Per the WMO, the annual mean

near-surface temperature over Asia in 2023 was the second highest on record, 0.91 degrees celsius (0.84 °C–0.96 °C) above the 1991–2020 average and 1.87 °C (1.81 °C–1.92 °C) above the 1961–1990 average.

“Particularly high average temperatures were recorded from western Siberia to central Asia and from eastern China to Japan.

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awarded Blue Parks around the global ocean that have met the highest science-based standards for conservation effectiveness. “This Blue Park Award is an honor to receive,” said Jose Mazo, Siete Pecados Marine Park Manager. “We want Siete Pecados Marine Park to meet or exceed the science-based Blue Park standards so we can conserve critical habitat, promote ocean health and ensure economic security for our children and generations to come.”

See “Marine park,” A2

RBy Lenie Lectura @llectura

OTATING brownouts were implemented Tuesday afternoon as the Luzon grid was placed on a five-hour red alert status following the forced shutdown of 18 power plants.

The National Grid Corporation of the Philippines (NGCP) raised the alert status to red from 3 pm to 4 pm and from 6 pm to 10pm.

It also issued a yellow alert from 4 pm-6 pm and from  10:00 pm12 midnight.

To maintain the integrity of the grid, the NGCP implemented automatic load dropping (ALD) in

some parts of La Union, Tarlac, and Camarines Sur. The power interruption in those areas lasted for 15 minutes.

A red alert status is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement.

A yellow alert, meanwhile, is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement.

Luzon’s available capacity as of 5 p.m. stood at 12,832MW. Peak demand was recorded at 12,671MW.

See “Brownouts,” A2

Brownouts. .

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At least 18 power plants in Luzon are on forced outage, while two are running on de-rated capacities, for a total of 1,518.9 megawatts (MW) unavailable to the grid.

Meanwhile, the Manila Electric Company (Meralco) said 200,000 customers experienced power interruptions at 3:30 p.m. in parts of Metro Manila, Pampanga, Bulacan, Laguna and Quezon Province. Service was fully restored by 3:50 PM.

“We already asked for de-loading commitments of our commercial and industrial customers under the Interruptible Load Program [ILP] to help lessen the demand.

If necessary, we are ready to implement manual load dropping [MLD] or rotating power interruptions as part of our responsibility to manage the system,” Meralco said.

Earlier, 38 power plants in Luzon and Visayas conked out, prompting the issuance of a yellow alert in both grids on Tuesday afternoon.

The Energy Regulatory Commission (ERC) has already directed power plant operators to submit their estimated timelines for the resumption of their operations.

The agency is mandated to review the performance of stakeholders concerned to ensure compliance with reporting requirements, maintenance and technical standards, as well as observance of allowable outage limitations. In its 2020 resolution, the ERC had set the maximum days of planned and unplanned outages per year and per generating plant technology.

“We will continue to monitor their timely compliance. We are fully aware of the difficulties brought about by these power disruptions and affirm our commitment to a thorough investigation,” said ERC Chairperson Monalisa Dimalanta.

Panel preps for PHL bid to host Loss & Damage Fund

By Reine Juvierre S. Alberto

AS Manila bids to host the Loss and Damage Fund (LDF) Board to enable the Philippines to access more climate financing, an interagency technical working group was created by President Ferdinand R. Marcos Jr.

In a statement on Wednesday, the Department of Finance (DOF) said it will lead the technical working group as the country has begun preparations to support its bid to host the LDF Board after securing a board seat for the years 2024 to 2026.

“The DOF will lead the country’s bid to host the Loss and Damage Fund. We have already begun thorough preparations on this matter, and we believe that the Philippines is more than ready to take on this important role,” Finance Secretary Ralph G. Recto said.

According to the DOF, the LDF is a global financial mechanism created to provide assistance to countries that are mostly affected

Marine park. . .

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The event highlighted contributions toward the Kunming-Montreal Global Biodiversity Framework’s target to protect 30 percent of marine and coastal areas by 2030 (‘30×30’), showcasing the Blue Park Award winners as outstanding examples of effective biodiversity conservation in MPAs.

“Congratulations to the 2024 Blue Parks,” said Lance Morgan, President of the Marine Conservation Institute in a statement. “As the global conservation community works toward 30×30, it is critical that we not only create more MPAs, but that we ensure they offer effective protection to marine

by climate change.

The Philippines will stand to gain “significant traction” by hosting the LDF Board, as developed countries and development partners can pledge voluntary contributions to finance the fund, the DOF added.

Furthermore, the DOF said the Philippines’ active participation in the LDF will allow countries in the world to collaborate with the Philippine government in addressing climate-related challenges.

The LDF can also serve as an avenue for the Philippines to highlight its “game-changing initiatives” in the adaptation and mitigation front, the DOF added.

The DOF asserted that the Philippine government pushed forward “strategic” investment and financing frameworks for climate and development positive actions during the Marcos Jr. administration.

It also enabled the National Adaptation Plan (NAP) and Nationally Determined Contributions Implementation Plan (NDC

ecosystems and benefit local communities.”

Siete Pecados Marine Park protects rich, ecologically diverse coral reefs. Located in what is known as the Coral Triangle, the MPA conserves endangered corals that are endemic to Palawan.

Its high coral coverage, as well as its mangrove forests and seagrass beds, support high fish biomass and species richness, provide refuge for fished species, and attract endangered species, such as dugongs and hawksbill sea turtles.

Siete Pecados is part of the Calamianes MPA Network, which protects 1,100 square kilometers of marine habitat and aims to support ecological connectivity across important marine habitats in the Calamiane Islands. “We are thrilled to recognize the hard

Growth goals. . .

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IP) and its Financial Strategy among the policies and measures to be implemented for the Philippines to become a destination for sustainable investments.

The Philippines has active access to the global fund Green Climate Fund (GCF), which supports developing countries in responding to the challenges of climate change.

The country also has access to the Global Environment Fund (GEF), a global fund dedicated to tackling biodiversity loss, climate change, and pollution, and supporting land and ocean health. The DOF is also actively pursuing access to the Adaptation Fund.

To discuss the strategies for the country’s hosting bid, the DOF convened member agencies in a series of meetings of the newly created LDF Technical Working Group (LDF TWG), namely, the Department of Foreign Affairs (DFA); the Department of Environment and Natural Resources (DENR); the Department of Budget and Management (DBM); and the Climate Change Commission (CCC).

work of the community, the local government, and the management team of Siete Pecados Marine Park,” said Dr. Sarah Hameed, Director of the Blue Parks Program. “The Blue Parks offer examples of conservation success that inspire us all to accelerate efforts to safeguard life in the sea.”

Siete Pecados was established in 2005, based on the recommendations of Barangay Tagumpay community members, to conserve and protect the coastal ecosystems of Coron, particularly from the impacts of overfishing.

The Siete Pecados Marine Park Management Committee, within the Municipal Government of Coron, manages the MPA and has received support from partners, including the USAID Fish Right Program and Path Foundation Philippines.

Since the establishment of the MPA, community members have played a large role in the monitoring, management, and conservation of this ecosystem.

To date, Blue Parks cover over 3.5 million square kilometers of ocean, spanning 23 countries. Marine Conservation Institute’s rigorous science-based criteria and an international panel of esteemed marine scientists are key to vetting and ensuring that these MPAs provide examples of the most effective marine life conservation. Cai U. Ordinario

Climate report. . .

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Japan and Kazakhstan each had record warm years,” WMO stated.

The UN agency said sea surface in the areas of the Kuroshio current system (west side of the North Pacific Ocean basin), the Arabian Sea, the Southern Barents Sea, the Southern Kara Sea, and the South-Eastern Laptev Sea is warming more than three times faster than the globally averaged sea surface temperature.

In 2023, the area-averaged sea surface temperature anomalies were the warmest on record in the North-west Pacific Ocean.

“The Barents Sea is identified as a climate change hotspot because ocean surface warming has a major impact on sea-ice cover, and there is a feedback mechanism in which loss of sea-ice in turn enhances ocean warming because darker sea surfaces can absorb more solar energy than the highly reflective sea-ice,” WMO said.

“Marine heatwaves—prolonged periods of extreme heat that affect the ocean—occurred in a large area of the Arctic Ocean, in the Eastern Arabian Sea and the Northern Pacific, and lasted three to five months,” it added.

Many parts of Asia experienced extreme heat events in 2023. Japan saw its hottest summer on record. China experienced 14 high temperature events in summer, with about 70 percent of national meteorological stations exceeding 40°C and 16 stations breaking their temperature records.

In India, severe heatwaves in April and June caused 110 heatstroke fatalities. A

However, Balisacan said the hawkish stance of the Monetary Board is a given and has already been considered in the government’s growth assumptions.

The National Economic and Development Authority (Neda) Secretary also said rate cuts are also not expected anytime soon as inflation remained high.

“That’s [high interest rates] already given. mean, when we look at the six to seven percent [growth target] that’s more or less already given because we know that the interest rates have [at] most five quarters of impact down the road,” Balisacan said.

“As inflation has come down from their highs, it’s high [point] early last year. So, the public would be expecting a lower interest rate down the road. Not too soon because of the volatility of the external environment, I believe,” he added.

‘Very drastic’ event

NONETHELESS , Balisacan said only a “very drastic” event that could harm the global economy and cause inflation to breach the 4-percent target, could derail the government’s positive outlook on the economy.

A very drastic event could be the spread of the conflict in the Middle East. Many of the world’s oil producers are in this region of the world and, as such, have the potential to jack up oil prices.

Balisacan explained that high oil prices are a major threat as this will affect logistics and distribution that are crucial in efficient supply chains. If these are affected, food prices could again see an increase.

“I think that going back to the times when inflation hit 8 percent would not be [possible] unless something very drastic happens in the global economy. [We’re] just crossing our fingers that the conflict there in the Middle East will not spread far and wide. That could affect global supply chains. Then, no one will be spared from that,” Balisacan said.

The Neda chief said the government is closely monitoring developments in the Middle East as this could influence oil prices. Should global oil prices rise, Balisacan said this would also translate to faster domestic inflation.

Rice prices

major and prolonged heatwave affected much of South-East Asia in April and May, extending as far west as Bangladesh and Eastern India, and north to southern China, with record- breaking temperatures.

Apart from rising surface temperatures, the report noted that a number of Asian countries have experienced below-normal precipitation in 2023.

These included large parts of the Turan Lowland (Turkmenistan, Uzbekistan, Kazakhstan); the Hindu Kush (Afghanistan, Pakistan); the Himalayas; around the Ganges and lower course of the Brahmaputra Rivers (India and Bangladesh); the Arakan Mountains (Myanmar); and the lower course of the Mekong River.

WMO said Southwest China also suffered from drought, with below-normal precipitation levels nearly every month of 2023, and the rains associated with the Indian Summer Monsoon were below average.

“Yet again, in 2023, vulnerable countries were disproportionately impacted. For example, tropical cyclone Mocha, the strongest cyclone in the Bay of Bengal in the last decade, hit Bangladesh and Myanmar. Early warning and better preparedness saved thousands of lives,” said Armida Salsiah Alisjahbana, Executive Secretary of the Economic and Social Commission for Asia and the Pacific (Escap), which partnered in producing the report.

“In this context, the State of the Climate in Asia 2023 report is an effort to bridge gaps between climate science and disaster risk through evidence-based policy proposals. Escap and WMO, working in partnership, will continue to invest in raising climate ambition and accelerating the implementation of sound policy, including bringing an early warning to all in the region so that no one is left behind as our climate change crisis continues to evolve,” she said. WMO also said the report highlighted the accelerating rate of key climate change indicators such as glacier retreat and sea level rise,

NONETHELESS Balisacan said rice prices are expected to peak by June and start falling in July as the El Niño phenomenon wanes. This will improve the country’s chances of seeing food prices decline.

Based on the Consumer Price Index (CPI) for All Income Households, rice has a weight of 8.87 percent while for the Bottom 30 percent of households, it has a weight of 17.87 percent.

The CPI also showed that food—in general—has a weight of 34.78 percent for all income households while for the Bottom 30 percent of households, the CPI for food is higher at 51.38 percent.

“[By the] second half of this year, we expect the pressure from food prices to diminish. Because, you know, a big part of that food inflation was imported in the sense that food prices, particularly for staple, have been rising in the world market. But for rice, that is expected to reach its peak and start falling after June as the El Niño phenomenon is waning. So hopefully that will [be] a plus factor for us,” Balisacan said.

Based on the recent estimates, ADB expects the country’s GDP growth to average 6 percent this year and 6.2 percent next year. (See: https://businessmirror.com. ph/2024/04/12/high-inflation-spursadb-to-cut-phl-growth-outlook/)

The IMF, meanwhile, estimated that the country’s GDP is expected to post a growth of 6.2 percent this year and next year (See: https://businessmirror.com. ph/2024/04/17/imf-phl-growth-faster-butjobless-rate-to-rise/).

The World Bank said the country’s economic growth will perform below potential at 5.8 percent in 2024 and 5.9 percent in 2025. (See: https://businessmirror.com. ph/2024/04/02/persisting-higher-usrates-to-hurt-region-twice-wb/)

Earlier, local economists told BusinessMirror that geopolitical risks would make it more difficult for imported oildependent countries like the Philippines to tame inflation, which could accelerate to double digits if oil prices jump to unprecedented levels.

Bloomberg reported that oil traders piled into more than 3 million barrels worth of options contracts in a bet that prices would spike to $250 a barrel by June as geopolitical risks remain elevated. (See: https:// businessmirror.com.ph/2024/04/19/ geopolitics-may-hurt-bid-to-tameinflation/)

which will have major repercussions for societies, economies and ecosystems in the region.

The report said some 80 percent of WMO Members in the region provide climate services to support disaster risk reduction activities. However, less than 50 percent of members provide climate projections and tailored products that are needed to inform risk management and adaptation to and mitigation of climate change and its impacts.

In 2023, a total of 17 named tropical cyclones formed over the western North Pacific Ocean and the South China Sea. This was below average but there were still major impacts and record-breaking rainfall in countries including China, Japan, the Philippines and Republic of Korea.

In the North Indian Ocean basin, Extremely Severe Cyclonic Storm Mocha made landfall along the Rakhine Coast in Myanmar on 14 May, causing widespread destruction and 156 reported deaths.

Several extreme precipitation events took place in 2023. In June, July and August, several floods and storm events resulted in more than 600 reported deaths across India, Pakistan, and Nepal.

The Hong Kong Observatory Headquarters recorded an hourly rainfall total of 158.1 mm on 7 September, the highest since records began in 1884, as a result of a typhoon. Several stations in Vietnam observed recordbreaking daily rainfall amounts in October.

Heavy rainfall led to flooding in Saudi Arabia and the United Arab Emirates in November. Yemen also suffered heavy rainfall and resulting widespread flooding.

WMO said in August and early September 2023, the far eastern part of the Russian Federation suffered catastrophic flooding in one of the largest disasters in recent decades, affecting about 40,000 hectares of rural land.

The report, one of a series of WMO regional State of the Climate reports, was released during the 80th session of the Commission in Bangkok, Thailand. It is based on inputs from National Meteorological and Hydrological Services, United Nations partners and a network of climate experts. It reflects WMO’s commitment to prioritize regional initiatives and inform decision-making.

CA affirms dismissal of immigration officers involved in ‘pastillas’ scheme

TBy Joel R. San Juan @jrsanjuan1573

he Court of Appeals (CA) has affirmed the dismissal from the service of three Bureau of Immigration (BI) officers for their involvement in the controversial “pastillas” scheme.

In a 23-page decision penned by Associate Justice Maximo de Leon, the CA’s Special Sixth Division denied the petition filed by BI officers Aurelio III S. Lucero, George V. Bituin and Salahuddin P. h adjinoor which sought the reversal of the decision issued by the Office of the Ombudsman on March 21, 2022 ordering their dismissal from the service after finding them administratively liable for grave misconduct and conduct prejudicial to the best interest of the service.

“As the Office of the Ombudsman found Lucero, Bituin and h adjinoor to be part of the pastillas group based on the overwhelming substantial evidence against them, we see no reason to depart from the same. The ruling of the Office of the Ombudsman as regards Lucero, Bituin and h adjinoor is affirmed,” the Court ruled.

The CA gave weight to the affidavits and evidence presented by whistleblowers

Padilla vows to ‘make noise’ for AFP modernization

By Butch Fernandez @butchfBM

Ahe AD of budget deliberations for next year, a senator on Tuesday vowed to “make noise in advocating the modernization of the Armed Forces of the Philippines (AFP), especially the Philippine Navy, so they can better defend our territory.”

Sen. Robin Padilla made the promise after visiting Senate employees undergoing the Basic Citizen Military Course (BCMC) aboard the BRP Tarlac in Subic Monday afternoon.

“Ang ibig sabihin nito, may kakampi kayo sa Senado na patuloy na palalakasin natin ang modernization. ‘Yan ang pinapangako namin sa inyo, hindi kami magiging bulag, hindi kami magiging bingi sa pangangailangan ng sundalo. [ w hat this means is that you have allies in the Senate in terms of modernizing the AFP. That is our promise. we will not be blind or deaf to the needs of our soldiers],” Padilla said in his message.

The AFP, particularly the Navy, can count on the support of reservists from the Senate, once they complete their BCMC, according to him.

“Asahan ninyo magiging maingay kami pagdating sa modernization ng Navy [Rest assured we will make noise for the modernization of the Navy],” he assured.

Padilla also recalled his experience with the Navy when they engaged the China Coast Guard in a chase in the west Philippine Sea in 2021.

“It was there,” he recalled, that he saw how big and armed the China Coast Guard’s boat was, compared to the rubber boat he and some Navy personnel rode. But even when the small boat’s engine conked out, it amazed him that they did not retreat. According to him, when China Coast Guard personnel asked them why they were there, the Philippine Navy personnel replied, “amin ito (this is ours).”

“Anong lesson sa nangyari sa atin? h uwag tayo magpapa-bully. Kahit na sila ang pinakamalaki, sila ang sinasabi nating pinakamayaman, ang asset natin ang kabayanihan ng ating sundalo. Maaasahan natin at yan ang nakita ko ( w hat lesson can we learn from this? we should not be bullied. They may be the biggest and wealthiest, but our asset is our soldiers’ patriotism. we can count on that because I have seen it myself),” he said.

Allison Chiong and Jeffrey Dale Ignacio, both immigration officers, before the Ombudsman.

Under the pastillas scheme, select foreign nationals were allowed entry into the Philippines, most of were Chinese nationals working in Philippine Offshore Gaming Operators (POGO). The credentials of these foreign nationals were not checked in exchange for a monetary consideration.

The bribe money is wrapped and made to appear as a pastillas, thus, the moniker pastillas scheme.

The immigration officers involved in the scheme would then divide the earnings among themselves.

The pastillas scheme triggered investigations by the National Bureau of Investigation (NBI) and the Senate.

Almost a hundred BI immigration officers were charged before the Ombudsman by the NBI-Special Action Unit (NBI-SAU) for criminal and administrative liabilities in connection with the illegal scheme.

In 2022, the Ombudsman indicted 43 of them before the Sandiganbayan for violation of Section 3 of Republic Act 3019 or the Anti-Graft and Corrupt Practices Act when they gave unwarranted benefits

and preference to more than 100 Chinese passengers who managed to enter the country without the required profiling and screening processes.

Chiong and Ignacio claimed that foreign travel agencies, clients, and even some members of foreign syndicates engaged in illegal activities in the Philippines, would forward a list of names of certain foreign nationals, together with their date of arrival at the Ninoy Aquino International Airport (NAIA) to their contacts inside the BI.

The said contacts in the BI, would then forward the list to a Viber group chat, known as the “Timbre Central.”

In turn, the “Timbre Central” would disseminate the list to the members of the pastillas group in different Viber group chats, which consists of immigration officers assigned at the frontline immigration counters and at the Travel Control and e nforcement Unit (TC e U).

Upon arrival at NAIA, the foreign nationals included in the list will then be allowed unconstrained entry into the country.

The witnesses identified Lucero, Bituin and h adjinoor as administrators of the Timbre Central Viber group who was responsible for forwarding the list of foreign

nationals to the various Viber group chats of the pastillas group.

They were also the ones responsible for the distribution of pastillas money to their members.

The witnesses also provided evidence showing the three were present in two meetings conducted between members of the pastillas group in September 2020 to discuss their “game plan” against the administrative cases filed against them.

In giving credence to Chiong and Ignacio testimonies, the CA said jurisprudence recognizes that it is the whistleblower who may provide a detailed account on the inner workings of the syndicate.

“Surely, no one will voluntarily subject himself/herself to possible retaliation aside for the reason that his/her conscience compels him/her to tell the truth. It is especially true in this instance where Chiong and Ignacio revealed the corruption happening in their very own workplace, and against their own workmates, who at some point in time, they were in cahoots with,” the CA noted.

“Suffice it to say that we see no reason to doubt Chiong and Ignacio’s statements against Lucero, Bituin and h adjinoor,” it added.

Reinstated Me AN wh IL e , the CA granted the petition filed by BI frontline officer Frances Meeka Flores, who was also implicated in the pastillas scheme, seeking the reversal of the Ombudsman decision dismissing her from the service.

The CA also ordered her reinstatement to her previous position.

“Accordingly, the penalty of dismissal from service meted against Frances Meeka Flores is set aside and she is ordered to be immediately reinstated to her former position.

She is entitled to back wages from the time of her unlawful dismissal on 21 March 2022, at the rate last received by her without qualification and deduction, until the date of her actual reinstatement,” the CA ordered.

Flores was implicated in the pastillas scheme after her name surfaced during the examination of the several Viber group chats showing that she allowed entry to four out of the 158 foreign nationals included in the VIP list of the pastillas group being the on-duty officer at that time.

For her defense, Flores argued that even if she was a frontline, she does not know or choose who will appear before her in

the immigration counter, and in turn, the incoming passengers do not know the immigration officer to whom they will be assigned to.

She maintained that she acted within the parameters of her duty in allowing the entry to the country of the four foreign nationals as she found no reason or legal ground to prohibit the entry of the said persons.

Flores also pointed out that there was no evidence showing her as part of the Timbre Central’s Viber group chat or that she received any pastillas money.

She was not also mentioned by Chiong and Ignacio as among the members of the pastillas group.

“It is clear that Flores’ grant of entry to these four foreign nationals were warranted as she had no reason to prevent their entry in this country. The BI system itself yielded that these foreign nationals had no previous or present derogatory records in the Philippines,” the CA said.

“Flores, who relied upon the results of the verification she conducted in the BI system cannot be held liable for the mere reason that these foreign nationals were eventually revealed to have availed of the pastillas group’s VIP treatment,” it added.

‘Lucky husband’ PBBM thanks FL Liza, but says VP Sara can stay in Cabinet

By Samuel P. Medenilla @sam_medenilla

De SPIT e calling himself a “lucky husband” for having a very “protective” wife, President Ferdinand R. Marcos, Jr. said Tuesday that Vice President and e ducation Secretary Sara Duterte will

remain part of his Cabinet despite her disagreement with First Lady Louise “Liza” Araneta-Marcos.

In an interview with reporters after holding an open forum with farmers and fisherfolks in Occidental Mindoro on Tuesday, the chief executive said Duterte, whom he calls by her nickname Inday, still

‘Aid package shows US commitment to Indo-Pacific stability’

The extensive lobbying efforts of the Philippine delegation yielded significant results as the United States h ouse of Representatives approved an $8.1-billion emergency aid package for key allies in the Indo-Pacific, including the Philippines, Speaker Ferdinand Martin Romualdez announced on Tuesday.

In a statement, Romualdez conveyed his appreciation to the US h ouse for the bipartisan support of the groundbreaking measure, which is crucially beneficial for Filipinos amid escalating tensions in the west Philippine Sea.

“This is a momentous occasion that underscores the enduring partnership between our nations and the unwavering commitment of the US to fostering stability and prosperity in the Indo-Pacific,” Romualdez said.

we are deeply grateful for the bipartisan effort that has led to the approval of this crucial assistance, which will undoubtedly strengthen the security and resilience of our region,” he added.

Voting 385-34, the US h ouse passed the $8.1-billion bill, allocating nearly $4 billion in security assistance to Taiwan, the Philippines, and other Indo-Pacific allies, alongside $1.9 billion to replenish US stocks that have been depleted to aid Asian allies and $3.3 billion for submarine infrastructure and additional provisions.

During the deliberations, an amendment was adopted to ensure that security assistance reaches the Philippines, a move welcomed by Romualdez.

Romualdez expressed his gratitude to Rep. Darrell Issa, who introduced the amendment to the bill, encouraging the US State Department to allocate $500 million in foreign military financing to the Philippines.

“The passage of this amendment

underscores the deepening partnership between our nations and highlights the United States’ commitment to enhancing the defense capabilities of the Philippines,” said Romualdez.

The approval of this bipartisan measure follows extensive engagements between the Philippine h ouse delegation, led by Romualdez, and American legislators, coinciding with the trilateral summit among US President Joe Biden, Japan Prime Minister Fumio Kishida, and Philippine President Ferdinand R. Marcos Jr.

“The constructive dialogue and shared vision exhibited during our meetings exemplify the enduring partnership between our nations,” Romualdez said.

“This aid package symbolizes our collective resolve to fortify the bonds of friendship and cooperation in the IndoPacific,” he said.

The $8.1 billion in assistance to the Indo-Pacific is integral to the $95.3 billion emergency aid package, which includes vital support for key US allies like Ukraine and Israel. This comprehensive measure will now proceed to the Senate for a final vote.

h e also said that the aid package, encompassing provisions for key US allies across diverse regions, reflects a comprehensive approach to addressing evolving geopolitical dynamics.

“This multifaceted assistance package reaffirms America’s steadfast commitment to promoting peace, prosperity, and security in the Indo-Pacific and beyond,” the Philippine h ouse chief said.

Romualdez expressed confidence that the US h ouse’s decisive action would set the stage for further collaboration and partnership between the US and its allies in the IndoPacific region, particularly the Philippines.

Jovee Marie N. Dela Cruz

enjoys his trust.

h e stressed he will only remove members of the Cabinet who are no longer doing their job, became sick, or engaged in corrupt practices.

“Inday is not like that,” the President said.

h e said he will be speaking with Sara to

give her the assurance that the rift between the two women will not impact her status in the Cabinet.

“She should not take such things seriously since she was not the one saying [insulting] things,” Marcos said partly in Filipino, referring to VP Duterte. “That issue can be ironed out easily.”

Lucky husband

L AST week, First Lady Araneta-Marcos said in an interview that she had a falling out with Duterte, saying the Vice President crossed the line when she laughed after her father, former President Rodrigo R. Duterte, said in a rally that Marcos was “high” on drugs.

The First Lady said she was hurt by the incident and that she will only forgive Sara if she apologizes for the incident.

Sara later released a video, where she said she will have a private talk with the President to finally address the matter.

Marcos said he felt grateful to FL for being so protective of his reputation, but he reiterated the issue will not affect his working relationship with Sara.

“First of all, my first reaction is what a lucky husband I am that I have a wife, who is very protective of me. w hen she hears someone saying something negative [things] about me, she gets very upset. we cannot blame her [for that]. It will not affect our working relationship with the Vice President, Secretary of e ducation,” Marcos said.

house to focus on national security, economy–Romualdez

SBy Jovee Marie N. Dela Cruz @joveemarie

P e AK e R Ferdinand Martin G. Romualdez said Tuesday that the h ouse of Representatives’ focus will be on measures bolstering national security and fostering economic growth in the remaining sessions of the 19th Congress.

Speaking at a forum hosted by the Department of Foreign Affairs (DFA), attended by diplomats and government officials, Romualdez discussed the importance of legislative efforts to safeguard national sovereignty and promote stability in the face of evolving global challenges.

“As we embark on another session this April 29th, our legislative focus sharpens on the dual imperatives of national security and robust development. Recognizing that peace is the cornerstone of prosperity, we aim to enact laws that fortify our national defense and enhance our international security posture,” he said.

“These initiatives are critical in maintaining sovereignty and stability, enabling our nation to pursue development goals without the shadow of external threats,” he added.

h ighlighting key areas of focus, Romualdez outlined the h ouse’s development agenda, which encompasses healthcare, education, and digital infrastructure.

“In healthcare, we are committed to expanding access and improving the quality of services, making healthcare affordable and accessible to every Filipino. Our initiatives in education aim to create a more liberalized system that not only meets global standards but also equips our youth with the necessary skills to thrive in a globalized economy. Additionally, by enhancing our digital infrastructure, we aim to ensure that every Filipino can benefit from the digital revolution, bridging digital divides

and fostering economic inclusivity,” he said.

h e added that by strengthening peace and security, Congress could create an environment conducive to economic activities and development initiatives.

“These, in turn, contribute to further stabilizing our nation by reducing poverty, creating jobs, and improving living standards, which in turn diminishes the likelihood of social unrest. This virtuous cycle is fundamental to sustainable development and is a cornerstone of our legislative agenda,” he said.

The h ouse leader said his and his colleagues’ goals “are ambitious.” “ w e aim not only to continue our current path but to accelerate our efforts.

w e are exploring innovative legislative measures that promote technological advancement and environmental sustainability. These initiatives are designed to ensure that the Philippines not only keeps pace with global trends but also sets a benchmark for innovation and responsible governance,” he said.

h e invited all sectors “to engage with us.”

“Your insights, expertise, and participation are invaluable as we forge a path forward. Through collaborative efforts, we can build a future that reflects our highest aspirations and fulfills the promise of prosperity and peace for all Filipinos,” he said.

‘Economic Cha-cha’

The Speaker pushed for another economic development advocacy, which is the removal of restrictions on foreign investments in the Constitution. “ we also recognize the need for more dynamic economic policies. Thus, we are advocating for amendments to specific sections of Articles twelve, fourteen, and sixteen of the Philippine Constitution,” he said.

h e said the proposed changes aim to introduce the phrase “unless otherwise provided by law” to give Congress the ability to make legislative adjustments swiftly in specific economic sectors in response to global and local economic shifts.

“Our extensive hearings on this matter have illuminated the broad benefits these amendments would bring, enabling more flexible, responsive governance. By enabling these adjustments, we can significantly enhance the Philippines’ stature as an attractive destination for investments. More investments mean more resources, which support sustained economic growth,” he said.

h e added that the changes, if effected, would “also translate into more job opportunities, helping ensure that Filipino families can thrive in an increasingly competitive world.”

h e told his audience that the h ouse of Representatives has put in place “significant reforms that have reshaped the economic and social landscape of the Philippines.”

“ we enacted pivotal tax reforms designed to invigorate our economy by simplifying the tax code, encouraging investment, and ensuring a fairer system for all. These measures have laid the groundwork for a more robust economic framework, attracting foreign investments and stimulating local entrepreneurship,” he said.

h e said the h ouse’s commitment to infrastructural development is exemplified by the continuation of the “Build, Build, Build” program.

“This ambitious initiative has not only improved connectivity across our archipelago but also generated tens of thousands of jobs, bolstering our economy and enhancing the daily lives of our citizens,” he said. The

President Ferdinand r. Marcos Jr. and First Lady Liza Araneta-Marcos depart from Villamor Air Base in Pasay City on April 30, 2023 en route to the United states in this Philippine news Agency file photo. VP s ara d uterte

Economy

Davao Region loses 320 farm lands to El Niño

By Manuel T. Cayon @awimailbox

DAVAO CITY—The Davao Region already lost 320 hectares midway into the El Niño dry spell phenomenon as government is also watching for any critical signs of its marine resources.

The Department of Agriculture here said a total of 547 hectares have been affected by the dry spell, of which the crops planted in the 320 hectares were all damaged and have “no chance of recovery.” The other 227 hectares could still be recovered of their crops, it added.

The DA said total production losses reached 1,297 metric tons valued at P22.5 million.

All of the affected farm lands were all located in Davao del Sur and 556 farmers were affected, mostly among upland vegetable and corn farmers. The number may be minimal though for a province that has 86,394 farmers.

The DA said that its El Niño Action Plan was already in place last year with a P1-billion mitigation plan that included aiding vulnerable areas expected in Davao del Sur and Davao Occidental. This specific effort would involve providing of drought-resistant rice seed varieties, plastic drums for rainwater catchment, constructing spring development projects in upland areas and assessment irrigation network systems. Meanwhile, the Bureau of Fisheries and Aquatic Resources here said it was monitoring for any sign of the destructive impact of the El Niño, such as incidents of fish kills, red tide contamination

of shell fishes, coral bleaching, or the sudden discoloration of corals that commonly leads to damage or death, and rising sea temperature and salinity.

The BFAR said these warning signs would reduce the survival rate among fishes and other marine life and the emergence of diseases, especially among sea weeds.

As of this week, there was no report of red tide contamination in the Balile and Pujada bays in Mati, Davao Oriental, Tagabuli Bay in Davao del Sur and Malalag Bay in Davao Occidental. Nonetheless, the BFAR said it received report of fish mortalities in Davao City and Davao Oriental due to “management challenges of operators.”

The other monitoring stations in the country where shell fishes are often extracted have all registered positive for red tide contamination, including two from Mindanao, the Dumanquillas Bay in Zamboanga del Sur and San Benito Bay in Surigao del Norte.

On April 7, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) has warned that Cotabato City is among seven areas where

First Gen, PMM renew supply deal

By Lenie Lectura @llectura

FIRST Gen Corp. said the Philippine Manufacturing Co. of Murata Inc. (PMM) has agreed to renew its renewable energy (RE) supply deal for its production facility.

“Together, we in First Gen and PMM are not just reducing emissions but also shaping a future where environmental responsibility and growth go hand in hand,” First Gen President and COO Francis Giles Puno said in a statement.

The company did not provide the RE capacity it will supply to PMM.

The supply deal, it said, is aligned with the commitment of the Japan-based electronics giant to shift electricity used in all its factories and offices around the world to 100 percent renewable energy by 2050. PMM is the Philippine unit of Murata, a worldwide manufacturer and innovator of electronic components and solutions that supplies parts for some of the world’s largest tech companies. Its manufacturing facility in the Philippines, located inside the Lopez-led First Philippine Industrial Park (FPIP) economic zone in Batangas, is the company’s biggest manufacturing facility in Southeast Asia and focuses on the production of multilayer ceramic capacitors which are used for electric vehicles and 6G communications technology. PMM and First Gen initially forged

a supply agreement in 2021. Under the new agreement, the power supply for PMM will come from the Bacon-Manito geothermal power facility in Bicol, operated by First Gen subsidiary Energy Development Corp.

“The renewal of our supply agreement with First Gen highlights our companies’ decarbonization and sustainability goals. While we aim to capture the demand for components that support emerging technologies, we want to do so in a manner that is cost-efficient, best in class, and carbon-neutral,” said PMM President Masayoshi Koda.

PMM is Murata’s first overseas facility to operate on 100 percent renewable energy. The facility has been operating on

temperatures are expected to soar up to 51°C. Likewise, Lanao del Norte is among 31 provinces experiencing drought worsened by El Niño, the weather agency noted.

Five days later, the Department of Agriculture (DA) reported substantial agricultural losses amounting to P2.63 billion, affecting over 54,000 farmers and 53,879 hectares of farmland across Luzon, Visayas, and Mindanao due to El Niño.

Agriculture Secretary Francisco Tiu Laurel has warned of an increase in agricultural product prices in the following weeks due to concerns over El Niño’s impact on global rice supply and increased demand.

“The current drought makes agricultural production difficult, resulting in lower supply levels,” read an article by the Department of Science and Technology.” This suggests that prices of agricultural commodities greatly affected by the drought, such as vegetables, corn, and rice, are expected to increase in response to supply scarcity and increased demand. This may impact consumers’ purchasing power and operations of businesses reliant on agricultural products.”

100 percent renewable energy since 2022. Aside from using geothermal energy, the plant harnesses power from over 6,700 solar panels installed at its facility with a capacity to generate close to 3,000 kilowatts of electricity.

In addition, First Gen’s affiliate Pi Energy Inc. provides other solutions for PMM that lowers the risk of unforeseen power interruption. Beyond the supply of clean and renewable energy, Pi Energy also constructed a transmission line that utilizes extremely sensitive equipment and machines to prevent unwanted downtime and unnecessary repairs for its Batangas facility.

“This extended collaboration not only strengthens our bond but also reinforces our shared dedication to environmental stewardship,” Puno added.

First Gen has a combined power portfolio of 3,666 megawatts.

Govt to continue anti-poverty tack amid low number of poor

IN response to recent survey findings showing a notable decrease in self-rated poverty and hunger among Filipino families, the leadership of the House of Representatives on Tuesday reaffirmed its commitment to continue existing antipoverty programs and develop additional initiatives to assist those in need.

Speaker Ferdinand Martin G. Romualdez

lauded the recent findings of OCTA Research indicating a decrease of 3 percent in both the number of families who consider themselves poor. The poll also showed a decrease in their self-rated hunger, from 45 percent in the fourth quarter of 2023 to 42 percent during the first quarter of 2024, and from 14 percent to 11 percent during the same period, respectively.

“These figures represent a decline of approximately 800,000 families in both categories, a clear indication that our

economic measures are effectively reaching and improving the lives of our people,” the House leader was quoted as saying in a statement. Romualdez pinned the progress on government’s economic programs and antipoverty efforts that, he said, are strongly supported by the Lower House.

“This positive trajectory in reducing poverty and hunger underscores the impact of our targeted policies aimed at enhancing economic stability and providing necessary support to the most vulnerable sectors. The decrease in the number of families who consider themselves food poor further attests to the success of our food security programs,” the lawmaker said. Romualdez highlighted the collaborative efforts between the House of Representatives and government agencies to complement the administration’s programs, such as the

Bagong Pilipinas Serbisyo Fair (BPSF), Cash and Rice Distributions (CARD) program, the Start-up, Investment, Business Opportunity, and Livelihood (SIBOL) program and the Farmers Assistance for Recovery and Modernization (FARM) program.

The solon said the BPSF, which just concluded its 15th installment in Benguet Province, brings government services closer to the people, including food, financial and livelihood assistance to all 82 provinces across the country.

“The BPSF has already rolled out billions of pesos in government aid and services to 15 provinces. We are so pleased to see that this program has an impact on the lives of Filipino families. May we see the further decline of self-rated poverty and hunger in the future,” the lawmaker from Leyte said.

The CARD Program, in collaboration

with the Department of Social Welfare and Development (DSWD), continues to provide hundreds of thousands of beneficiaries with rice and cash assistance, with each beneficiary from vulnerable sectors receiving a 25-kilogram sack of rice and cash to help in everyday life.

The same goes for SIBOL and FARM. These programs aim to help small entrepreneurs and farmers cope with the struggles of their respective livelihood areas by granting them cash aid to jumpstart their small businesses and farms.

Romualdez also disclosed the existence of the Ayuda para sa Kapos ang Kita Program (AKAP) under the DSWD, which is included in the 2024 national budget and will benefit 12 million poor and low-income families—or a total of 48 million Filipinos—by receiving a one-time financial grant of P5,000.

Jovee Marie N. Dela Cruz

FM Jr. sees solar power solving Mindoro crisis

By Samuel P. Medenilla @sam_medenilla

WHILE extreme heat contributed to the agricultural crisis in Mindoro, solar energy can also serve as a solution to the island’s perennial energy woes, President Ferdinand R. Marcos Jr. said on Tuesday.

In an interview with reporters in Occidental Mindoro last Tuesday, the chief executive said the construction of solar power plants in Mindoro can be a “quick solution” to raise the power supply in the island.

“Because when it comes to solar [power], as long as you have a solar cell, you can use it right away,” Marcos said.

However, he noted a long-term solution in providing for the energy needs in the island is by connecting it to the national power grid through submarine cable so it can tap electricity supply in areas, which have excess capacity.

During the situation briefing presided by the President, Occidental Mindoro Diana C. Tayag said that the “power crisis” is

exacerbating the effects of El Niño, which coincides with the summer season, to agriculture in their province.

She noted the power rate in Mindoro remains high since they only have one power supplier, Occidental Mindoro Consolidated Power Corp. (OMCPC) and under a power supply procurement, which prevent their province from availing subsidies from the national government.

“The price of our electricity is so expensive—20-kilowatt per hour—while for Meralco [Manila Electric Co.] it is only 12-kilowatt per hour,” Tayag said.

“Right now, we don’t have cold storage because electricity is so expensive. Our mills, rice mills, and other post-harvest facilities are also not running; others have closed. Our fisherfolk are also affected because we also need a proper supply of electricity for the ice [they use],” she added.

The Occidental Mindoro provincial government hopes the issue will be addressed with the entry of more power providers in its jurisdiction.

Among Asians, Pinoys most concerned about cost, safety of domestic vacation

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

WITH the summer season now underway, Southeast Asian travelers are intent on going on vacations domestically, but also concerned about the slowly simmering inflationary costs of traveling, as well as the safety of their intended destinations.

In a survey by Milieu Insight Pte. Ltd. of summer travel plans by Southeast Asians, an average of 55 percent of those surveyed in the Philippines, Indonesia, Thailand, and Malaysia are planning to travel domestically this year. Also, over 60 percent of the 1,966 respondents prioritize safety and cost when choosing domestic travel destinations.

“Our report highlights the summer travel plans of many Southeast Asians. As people seek to explore their own countries, affordability and safety are key factors driving their choice,” said Gerald Ang, Founder and CEO of Milieu Insight, a survey software company based in Singapore, in a news statement on Tuesday. “At the same time, many travelers in Asia are increasingly budget-driven, and they are embracing familyoriented experiences, by finding value in land transportation and road trips,” he added.

Among the countries surveyed, the Philippines is the most willing to travel domestically at 60 percent of respondents. Yet Filipinos are also the most concerned about the “safety of travel and destination” (73 percent of respondents), and the “cost of the whole vacation” (66 percent). Cost concerns, in fact, have driven many Filipinos to take vacations in other Southeast Asian countries where P20,000 can already buy them an air ticket, hotel stays, and tours. (See, “More Filipinos traveling abroad for the Lenten break,” in the BusinessMirror , March 28, 2024.)

Unperturbed by dead spot

SURPRISINGLY, Filipinos, who are the most voracious social media users in the region, are the

least concerned about “whether there is good phone signal at the destination” (20 percent of respondents). They are also not so influenced by marketing, with only 22 percent of respondents making travel choices based on the “promotion of destination”. Thais and Indonesians are the least concerned about destination promotions at 18 percent of respondents in each country.

Sixty percent of respondents in the Philippines are “somewhat likely” to tap the services of a travel agency when planning their domestic trips, ranking the highest among other nationalities, while only six percent indicated they are “very unlikely” to do so.

The survey also showed an average of 74 percent of the Southeast Asian travelers prefer traveling by land when taking domestic vacations, with Thais (88 percent of local respondents) and Indonesians (76 percent) ranking the highest. No information was available specifically for the Philippines.

Family time is quality time

MILIEU reported that 79 percent of travelers in Southeast Asia are planning to go on domestic vacations with their families as they “[prioritize] quality time together, seeking to create cherished memories while exploring local hidden gems.”

The survey likewise indicated that families are eager to go on culinary journeys to taste the local flavors in their domestic destination of choice, and embark on “immersive touring experiences…and visit landmarks.”

An average of 78 percent of respondents across all surveyed countries prefer staying in hotels, but other alternatives are gaining momentum, according to the survey. For instance, 44 percent of Malaysian respondents choose the “personalized experiences” offered by Airbnb, while 47 percent of those in Thailand are “drawn to the luxury and exclusivity of pool villas.”

Milieu’s survey was carried out from March 7 to 31, 2024, and is representative of the online population aged 16 and above.

Commercial release of GM rice, eggplant halted by CA

By Joel R. San Juan @jrsanjuan1573

THE Court of Appeals (CA) has enjoined the Department of Agriculture and other concerned government agencies from pushing with the commercial release of genetically modified rice (Golden Rice) and eggplant products (Bt Eggplant).

In a 143-page decision penned by Associate Justice Jennifer Joy C. Ong, the CA’s Fourth Division granted the petition filed by farmers and environmental groups for a writ of kalikasan directing respondents University of the Philippines Los Banos (UPLB) and the Philippine Rice Research Institute (PRRI) to desist from commercially propagating and conducting activities relating to Bt Eggplant and Golden Rice, respectively, until all concerned government agencies submit proof of safety of and compliance with legal requirements.

The CA also granted the writ of continuing mandamus, which ordered the concerned respondents government agencies to submit to the CA strengthened risk assessment procedures and concrete mechanisms to monitor all activities conducted under the Joint Department Circular (JDC) Nos. 1-2016 and 1-2021 issued by the Department of Science and Technology (DOST), the DA, the Department of Environment and Natural Resources ) DENR), the Department of Health (DOH) and the Department of the Interior and Local Government DILG).

The joint circular governs all aspects related to geneticallymodified plant products derived from modern technology.

The CA pointed out the insufficiencies of the JDC provisions with regard to monitoring, labelling of GMOs and adoption of realistic time frame for processing of biosafety permit applications.

“Until the deficiencies noted in the decision are addressed by the concerned government agencies, any application for contained use, field testing, direct use as food or feed, or processing, commercial propagation, and importation of all GMOs are enjoined,” the CA said.

In issuing the writ of kalikasan, the CA applied the precautionary principle recognized under the Rules of Procedure on Environmental Cases.

The precautionary principle states that “when human activities may lead to threats of serious and irreversible damage to the environment that is scientifically plausible but uncertain, actions shall be taken to avoid or diminish that threat.”

The CA held that the three conditions for precautionary principle to apply—uncertainty, the possibility irreversible harm, and the possibility of serious harm—are present in the case.

“While it may be argued that the trials of Golden Rice and Bt Eggplant were conducted precisely to determine the effects or risks of GMOs as well as to obtain data and information thereon, it must be equally remembered that the overall safety guarantee thereof is still unknown,” the CA pointed out.

The CA also noted the lack of “genuine, exhaustive, independent and active monitoring activity” being conducted by the Bureau of Plant Industry (BPI) or any other government regulators with regard to the propagation of GMOs.

“Evidently, the approach of the government is merely to wait or receive information from the proponents or the public, or to be reactive, rather than to effectively initiate monitoring activities, or to be proactive,” the decision read.

“As it stands, the burden is being placed on the proponents and the people to perform the obligation or responsibility of the regulators,” it added.

The CA ruling stemmed from the petition for the issuance of a writ of kalikasan filed by Greenpeace and co-petitioners Magsasaka at Siyentipiko sa Pagpapaunlad ng Agrikultura [Masipag] before the Supreme Court.

The petition sought to stop the government from commercially releasing genetically modified rice and eggplant products, insisting that Golden Rice and Bacillus thuringiensis Eggplant (Bt Eggplant) are genetically modified organisms, which is a cause for environmental concern.

The petitioners also asked the Court to direct the respondent DA to refrain from commercially propagating Golden Rice and issuing biosafety permits for commercial propagation of Bt Eggplant; cease and desist from commercially propagating Golden Rice and Bt Eggplant until such time that proof of safety and compliance with legal requirements is shown; declare all biosafety permits for Golden Rice and Bt Eggplant null and void; and perform independent risks and impact assessments, obtain the prior and informed consent of farmers and indigenous peoples, and implement liability mechanisms in case of damage, as required by law.

The SC issued a writ of kalikasan in favor of the petitioner in April 2023 and referred the case before the CA for final disposition.

The World

Beijing-Washington tensions remain top concern for US companies in China, AmCham report says

By Elaine Kurtenbach AP Business Writer

SIMMERING tensions between Beijing and Washington remain the top worry for American companies operating in China, according to a report by the American Chamber of Commerce in China released Tuesday.

The survey of US companies said inconsistent and unclear policies and enforcement, rising labor costs and data security issues were other top concerns. It also said that, despite the insistence of Chinese leaders that Beijing welcomes foreign businesses, many still are hindered from free competition.

“The Chinese government has stated that it encourages foreign direct investment, but many of our members continue to encounter barriers to investment and operations including policies that discriminate against them and public relations campaigns that create suspicion of foreigners,”

the report said.

The report welcomed an improvement in relations in 2023 that was capped by summit meetings of Chinese leader Xi Jinping and President Joe Biden, but said the US presidential election in November was “looming large” over the future business environment.

More recently, US Treasury Secretary Janet Yellen visited Beijing, where she raised concerns that potential overcapacity in Chinese industries—such as electric vehicles, steel making and solar panels—might crowd out US and other foreign manufacturers.

“We recognize that there are

the two governments, and on the regulatory front, what we’re seeing is it’s not getting easier to do business in China; it’s getting harder,” said the chamber’s chair, Sean Stein.

American companies operating in China saw improved profits last year, though slightly less than half expect to be profitable in 2024.

Still, many members of the American Chamber said they were more optimistic about growth of China’s own economy.

Among its many recommendations the report urged China to create and implement “transparent and practical economic policies which treat domestic and foreign entities equally.”

providing clear visa policies for Chinese students to show they will be welcomed. Similarly, American students should be encouraged to study in China, the report said.

It also called on US officials to avoid resorting to unilateral controls that may be ineffective and fail to meet goals for national security and foreign policy. Washington should engage with Chinese companies to allow them to address export control concerns such as military use of civilian technologies before the companies are subjected to sanctions, it said.

significant areas of contention in the US-China relationship, many of which have no easy or shortterm prospects for resolution,” it said.

The report said the Chamber saw high-level exchanges and communication between the two sides as a top priority.

Despite the relative improvement in China-US ties, American companies are dealing with slow progress from the Chinese government on promises to level the playing field between foreign and Chinese companies, the report said. On the other hand, heightened export controls and other restrictions from the US government have raised the cost of compliance.

Inflammatory rhetoric: Congress accuses Modi of hate speech after he calls Muslims ‘infiltrators’

By Krutika Pathi The Associated Press

NEW DELHI—India’s main opposition party is accusing Prime Minister Narendra Modi of hate speech after he called Muslims “infiltrators” and used some of his most incendiary rhetoric to date about the minority faith.

At a rally on Sunday in the western state of Rajasthan, Modi said that when the Congress party was in government, “they said Muslims have the first right over the country’s resources.” If it returns to power, the party “will gather all your wealth and distribute it among those who have more children,” he said as the crowd applauded. “They will distribute it among infiltrators,” he continued, saying, “Do you think your hard-earned money should be given to infiltrators?”

Abhishek Manu Singhvi, a spokesperson for Congress, called the prime minister’s remarks “deeply, deeply objectionable” and said the party on Monday had sought action from the Election Commission of India, which oversees the six-week voting period.

The remarks sparked fierce criticism for peddling anti-Muslim tropes, and for breaking election rules which bar

Myanmar’s

candidates from engaging in any activity that aggravates religious tensions. The Election Commission of India’s model code of conduct forbids candidates to “appeal to caste or communal feelings” to secure votes.

Asaduddin Owaidi, a Muslim lawmaker and president of the All India Majlis-e-Ittehadul-Muslimeen party, said on Sunday: “Modi today called Muslims infiltrators and people with many children. Since 2002 till this day, the only Modi guarantee has been to abuse Muslims and get votes.”

Critics of Modi—an avowed Hindu nationalist—say India’s tradition of diversity and secularism has come under attack since his party won power in 2014 and returned for a second term in 2019. They accuse Modi’s BJP of fostering religious intolerance and sometimes even violence. The party denies the accusation, saying their policies benefit all Indians.

But rights groups say that attacks against minorities has become more brazen under Modi. Scores of Muslims have been lynched by Hindu mobs over allegations of eating beef or smuggling cows, an animal considered holy to Hindus. Muslim businesses have been boycotted, their homes and businesses have been bulldozed and places of worship set on fire. Some open

calls have been made for their genocide.

Modi’s remarks on Sunday were based on a 2006 statement by then-Prime Minister Manmohan Singh of the Congress party. Singh said that India’s lower-castes, tribes, women and, “in particular the Muslim minority” were empowered to share in the country’s development equally.

“They must have the first claim on resources,” Singh had said. A day later, his office clarified that Singh was referring to all of the disadvantaged groups.

Modi and his Hindu nationalist Bharatiya Janata Party are expected to win, according to most surveys. The results come out on June 4.

The Congress party’s president, Mallikarjun Kharge, described Modi’s comments as “hate speech.” “In the history of India, no prime minister has lowered the dignity of his post as much as Modi has,” Kharge wrote on social media platform X.

In its petition to the election commission, the party said that Modi and the BJP have repeatedly used religion, religious symbols and sentiments in their election campaign with impunity. “These actions have been further bolstered by the commission’s inaction in penalizing the prime minister and the BJP for their blatant violations of

figurehead vice president, a holdover from Aung San Suu Kyi’s civilian govt, steps down By Grant Peck The Associated Press

BANGKOK—Myanmar’s Vice President

Henry Van Thio, who served in the elected government of Aung San Suu Kyi and then continued in the position after the military ousted her to seize power in 2021, is stepping down for unspecified health reasons, state media said Monday.

State television MRTV announced on Monday night that 65-year-old Van Thio had been allowed to retire from his post for health reasons in accordance with the constitution but did not provide any details of his health or say who, if anyone, will replace him.

Van Thio, a member of Myanmar’s Chin ethnic minority and a former army officer, was named second vice president in 2016 when Suu Kyi’s party started its first term after winning the 2015 general election in a landslide. Her

National League for Democracy party governed Myanmar with overwhelming majorities in Parliament from 2015 to 2021, before being overthrown by the military.

Van Thio was the only member of Suu Kyi’s National League for Democracy party to stay on as a member of the National Defense and Security Council after the military seized power from the elected government of Suu Kyi in February 2021.

The council, established under a previous military government, is the highest constitutional government body responsible for security and defense affairs and is nominally led by the president. However, in practice, it is controlled by the military. Its membership is made up of the top military chiefs and cooperative politicians.

It played a key role in the February 2021 military takeover when the President in Suu Kyi’s government, Win Myint, was detained with her, and First Vice President Myint Swe, a

member of a pro-military party became acting President. The move allowed the council to be convened, declare a state of emergency and hand over power to military chief Senior Gen. Min Aung Hlaing.

Although the army claims it took power constitutionally, legal scholars generally describe its action as illegal. It has renewed the state of emergency several times.

Van Thio has played no apparent active role in the military government aside from helping to provide it with the veneer of constitutional rule.

He almost completely disappeared from public view until his first known attendance at the National Defense and Security Council meeting in July last year, when the state of emergency was extended for the fourth time. He was absent from the council’s earlier meetings to extend emergency rule, with bad health cited as the reason. He was reportedly

“So the end result is companies are getting squeezed between

electoral laws,” it said. The commission’s code of conduct is not legally binding, but it can issue notices and suspend campaigners for a certain amount of time over violations.

“We decline comment,” a spokesperson for the commission told the Press Trust of India news agency on Monday.

In his speech, Modi also referred to a Hindu nationalist myth that Muslims were overtaking the Hindu population by having more children. Hindus comprise 80 percent of India’s 1.4 billion population, while the country’s 200 million Muslims make up 14 percent. Official data shows that fertility rates among Muslims have dropped the fastest among religious groups in recent decades, from 4.4 in 1992-1993 to 2.3 between 2019-2021, just a bit higher than Hindus at 1.94.

Modi’s BJP has previously referred to Muslims as infiltrators and cast them as illegal migrants who crossed into India from Bangladesh and Pakistan. Several states run by the BJP have also made laws that restrict interfaith marriage, citing the myth of “love jihad,” an unproven conspiracy theory used by Hindu hardline groups to accuse Muslim men of converting Hindu women by marriage. Through it all, Modi has maintained a conspicuous silence, which critics say has emboldened some of his most extreme supporters and enabled more hate speech against Muslims.

treated in hospital in January last year because he suffered a serious head injury in a fall at his residence in the capital, Naypyitaw.

A few days after last July’s council meeting, the National League for Democracy announced it had expelled him from the party because of his attendance at the meeting. The party in March last year was dissolved by the military government, whose legitimacy it doesn’t recognize, for failing to meet a registration deadline.

Suu Kyi’s party boosted its majority in the November 2020 election, but in February 2021, the army blocked all elected lawmakers from taking their seats in Parliament and seized power, detaining top members of Suu Kyi’s government and party, except Van Thio and Myint Swe,

The army said it staged its 2021 takeover because of massive poll fraud, though independent election observers did not find any major irregularities.

The army takeover was met with widespread popular opposition. After peaceful demonstrations were put down with lethal force, many opponents of military rule took up arms, and large parts of the country are now embroiled in conflict.

Referring to concerns over the risk of being caught up in accusations they have violated China’s national security, it also appealed to China’s leaders to clarify and narrow the scope of the country’s anti-espionage law to prevent it from interfering with normal business operations.

Such requests follow repeated raids on foreign companies that Chinese authorities say were conducted on national security grounds.

The report also had recommendations for the US side, including

The 617-page bilingual report provided hundreds of recommendations spanning a wide variety of industries, from sports and online streaming to occupational safety issues and rural traffic management.

American companies generally are not planning to move supply chains out of China given how large and important it is as a market of 1.4 billion people. But their willingness to increase investments there and make it their strategic focus has been decreasing as its advantages diminish, the report said.

TAIPEI, Taiwan—A cluster of earthquakes struck the island republic of Taiwan early Tuesday, the strongest having a magnitude of 6.1, according to the US Geological Survey. There were no reports of casualties in the quakes, although there were further damages to two multi-story buildings that had been evacuated following a magnitude 7.4 quake that hit the island earlier this month, killing 13 people and injuring over 1,000. That earthquake was centered along the coast of the rural and mountainous Hualien County. It was the strongest earthquake in the past 25 years in Taiwan and was followed by hundreds of aftershocks

According to the USGS, Tuesday’s quake of 6.1 magnitude had its epicenter 28 kilometers (17.5 miles) south of the city of Hualien, at a dept of 10.7 kilometers. The half-dozen other quakes ranged from magnitude 4.5 to magnitude 6, all near Hualien. Taiwan’s own earthquake monitoring center put the magnitudes of the initial quake at 6.3. Such small discrepancies are common between monitoring stations.

The largest among them were two earthquakes of magnitude 6.0 and 6.3 that occurred at 2:26 a.m. and 2:32 a.m. Tuesday, respectively,

according to the Taiwan center. Numerous of the scores of aftershocks could be felt on the upper floors of apartment buildings in the capital Taipei, about 150 kilometers (93 miles) across steep mountains to the northwest.

The Full Hotel in downtown Hualien partially collapsed during the quakes and was left leaning at a severe angle. However, it had been undergoing renovations and was unoccupied at the time. The nearby Tong Shuai Building was also empty, having been marked for demolition after being heavily damaged in the April 3 quake. Schools and offices in Hualien and the surrounding county were ordered closed on Tuesday as hundreds of aftershocks continued to strike on land and just off the coast in the Pacific Ocean, the vast majority below magnitude 3.

Taiwan is no stranger to powerful earthquakes yet their toll on the high-tech island’s 23 million residents has been relatively contained thanks to its excellent earthquake preparedness, experts say. The island also has strict construction standards and widespread public education campaigns about earthquakes.

In 1999, a magnitude 7.7 earthquake in Taiwan killed 2,400 people. A

AP writer Simina Mistreanu contributed from Kaohsiung, Taiwan.

Extending RCEF: A key to boosting Philippine rice production

Among all the crops grown in the Philippines, rice is heavily favored in terms of the support it receives from the government. The increase in spending in agriculture in recent years has largely benefited the rice sector. Billions of pesos have been poured into activities that sought to increase rice production, such as the repair and rehabilitation of irrigation systems that primarily serve rice lands.

Given that rice is the staple of food of Filipinos, it becomes imperative to adopt appropriate strategies to guarantee the consistent availability and ample supply of this essential grain. One such measure is Republic Act (RA) 11203 or the Rice Tariffication Law (RTL). Signed by former President Duterte on February 14, 2019, the law liberalized the importation, export and trading of rice and lifted the quantitative restriction on imports.

One of the salient provisions of the RA 11203 is the setup of the Rice Competitiveness Enhancement Fund (RCEF), which consisted of tariffs from rice imports. The government allotted P10 billion a year for the RCEF, of which P5 billion was set aside for the free distribution of farm machinery and equipment, P3 billion for the free distribution of inbred certified seeds. The remaining P2 billion was channeled to credit support and to the training of farmers and extension.

Tariff collections in excess of P10 billion are distributed as cash assistance to small rice farmers tilling two hectares of land and below until this year. If RCEF is not extended, planters will no longer be able to access the interventions it bankrolled starting next year. Crucial among the support financed by RCEF is extension, which used to be provided by the Department of Agriculture.

We agree with lawmakers who had declared that the RCEF should be extended for another six years to make the sector competitive. For one, despite the existence of RCEF and the allocation of billions of funds to boost output, there has been no marked increase in the productivity of rice farms. Average yield per hectare of rice lands remained stuck at a little over 4 metric tons based on the 2023 data of the Philippine Statistics Authority, which is unacceptable if the Philippines is keen on pulling down rice prices.

Aside from tweaking certain provisions, such as allocating a part of the rice fund for postharvest facilities, lawmakers should also consider the suggestion of the National Economic and Development Authority (Neda) to allow nonrice sectors to benefit from it. Neda said the rice fund could help planters of other crops boost their productivity. (See, “Extending RCEF, using it for non-rice sectors, possible,” in the BusinessMirror , April 23, 2024).

If the RCEF is extended, agencies that are mandated to oversee programs financed by it should fast-track interventions, such as the distribution or provision of equipment aimed at increasing productivity. The pandemic has certainly made it difficult to implement RA 11203. With the easing of mobility restrictions, however, they no longer have an excuse to delay the rollout of programs that will benefit not only rice planters, but the whole farm sector in general.

Housing sector a boon to the economy

UMark Villar

THE BUILDER

nlikE other countries where there is an oversupply of housing units, the Philippines has plenty of opportunities to further develop our residential market.

With an estimated housing deficit exceeding 6.5 million units, the government, through the Department of Human Settlements and Urban Development (DHSUD), aims to bridge the gap by erecting a million units annually until 2028, requiring substantial investments from both public and private sectors, amounting to at least P1 trillion each year.

Achieving the target would not only address the housing needs of Filipinos—it would also generate millions of jobs, invigorate related industries and infuse wealth into communities, especially in emerging areas beyond Metro Manila.

The anticipated spillover effects include the rise of ancillary amenities, such as commercial establishments, markets, educational institutions, religious centers and service hubs. Once homeowners move into

Ctheir new houses, they purchase furniture, appliances, furnishings and tools. This level of spending cascades to different sectors and contributes to the overall economic growth.

Recognizing the pivotal role of the housing sector in propelling the Philippine economy, President Ferdinand Marcos Jr. launched the “Pambansang Pabahay para sa Pilipino” (4PH) program, aimed at providing residences to underprivileged Filipino families, including those dwelling in apartments.

A 2022 survey by the Philippine Statistics Authority (PSA) shows that only 62.1 percent or three in every five Filipino families owned the house and lot they occupied. The figure was lower in Metro Manila, where only one in two families, or 51.6 percent, were living in homes they owned. Nearly 29 percent of

The total value of construction projects authorized in January 2024 amounted to P29.83 billion, down 7.5 percent from P32.25 billion in January 2023.

Residential construction accounted for the largest share of the total value at P13.60 billion or 45.6 percent, but it marked a 14.0-percent decline from January 2023.

families were renting houses in the National Capital Region.

A separate survey by the PSA showed that as of 2000, there were 28.5 million housing units listed nationwide, with an average of 4.3 individuals occupying each unit. More than half of the housing units were built between 2000 and 2020.

Based on these data, over 14 million units were built in the past two decades, translating into about 700,000 units constructed each year. This proves that the government’s plan to build one million units each year is highly feasible.

However, recent data show a deceleration in building activity in 2024, with newly issued building permits dipping 17.3 percent yearon-year in January.

Per the PSA, the number of newly issued building permits dropped 17.3

percent in January 2024 to 11,433. Homes continued to be the most popular construction project, with over 7,300 permits issued during the month. This represented two-thirds of all permits, but showed a 22-percent drop from a year ago.

The total value of construction projects authorized in January 2024 amounted to P29.83 billion, down 7.5 percent from P32.25 billion in January 2023. Residential construction accounted for the largest share of the total value at P13.60 billion or 45.6 percent, but it marked a 14.0-percent decline from January 2023.

The figures provided by the PSA may underestimate actual construction activities because many families, especially in the provinces, build their houses without permits from local building officials. But it remains imperative to witness an uptick in building permits in the coming months to align with the government’s ambitious target.

The current dry season coupled with easing prices of construction materials present an opportune time to intensify housing construction efforts. Data from the PSA show that the construction materials retail price index (CMRPI) in the National Capital Region moved at a slower pace of 0.6 percent in March 2024, following a 1.1-percent rise in

See “Villar,” A17

hinA’s world-beating electric vehicle industry, at the heart of growing trade tensions with the Us and Europe, is set to receive a big boost from the government’s latest effort to accelerate growth.

That’s one takeaway from what Beijing has revealed about its plan for incentives that will encourage Chinese businesses and households to adopt cleaner technologies. It’s widely expected to be one of this year’s main stimulus programs, though question marks remain—including how much the government will spend.

Four months after President Xi Jinping flagged a proposal to help households and businesses upgrade old machinery, details are still trickling out. At a briefing earlier this month, officials from multiple departments announced the fullest version so far, and promised more to come.

Trade-ins have the potential to speed up growth, currently forecast to fall a bit short of China’s target of about 5 percent. They can also make it less lopsided, by encouraging purchases at home to balance an export drive. That could ease some of the

global concern about overcapacity in China’s factories.  Local governments will be in charge of many practicalities. The city of Suzhou, in China’s wealthy Jiangsu province, already began— announcing subsidies worth 100 million yuan for cars (up to 6,000 yuan per buyer) and 20 million for appliances (a maximum 1,500 yuan for each machine) starting April 20.  Here is what Beijing has announced and what investors are waiting to find out:

1. What is China’s trade-in plan?

The sweeping program aims to upgrade China’s stock of industrial and household equipment—taking older machines that use more energy or emit more pollution out of service, and giving a lift to consumer spending and business investment along the way.

It covers everything from heavy industries like petrochemicals and

steel, to installing new elevators in apartment buildings, to incentives for consumers to scrap their old washing machines and buy new ones that use less water.

China’s top economic planning agency says investment on equipment upgrades in key industries was 4.9 trillion yuan ($680 billion) last year, and the goal is a 25% increase by 2027.

2. How much will China’s latest stimulus plan cost?

Beijing hasn’t specified how much cash it’s ready to provide, though officials have described some of the financing tools.

On the household side, auto tradeins look set to be the focus of fiscal support from the central government. Subsidies will be offered to consumers who buy new EVs or other energy-conserving cars. Local authorities will share some of the costs.

For appliance upgrades regional governments—at least, the ones that aren’t too deep in debt trouble—are expected to shoulder the entire burden, signaling it’s a lower priority for Beijing.

For industry there’ll be a mix of subsidies, government investment

in new equipment, tax breaks for cleaner producers and discounted loans to help firms upgrade.  There are sticks as well as carrots. New environmental standards for machinery “will force companies to get rid of some old equipment,” says Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc, calling that “the most distinctive feature” of the plan.

3. How will the program help speed up China’s growth?

Much of the spending may fall within existing budget proposals, and its impact is likely built into the official growth target, says Ding. “I don’t think it will lead to additional fiscal stimulus,” he adds, though it “will provide the government with more channels to fully spend” money already set aside.

As for the extra consumer and business spending it will trigger, that’s hard to specify without the financing details, says Duncan Wrigley at Pantheon Economics. For now he’s estimating a total around 0.7 percentage point of China’s gross domestic product.

See “China,” A17

Russia’s North Korea embrace could embolden Kim Jong Un, US says

By Iain Marlow

Russia’s “complete embrace” of North Korea could increase Kim Jong un’s appetite for risk when it comes to threatening south Korea and exporting weapons abroad, as well as helping Pyongyang ignore Washington’s call to return to nuclear talks, a senior Biden administration official said.

As North Korea ships weapons to help power President Vladimir Putin’s war in Ukraine, Pyongyang has benefited from the “whole gamut” of improved diplomatic ties with Russia, from economic and security assistance to high-profile visits by top Russian officials, the State Department’s senior official for North Korea, Jung Pak, said in an interview Monday.   “This could lend this once-isolated country the luster of legitimacy that it does not deserve, and it should not have,” Pak said. “We’re concerned about what that might do to make Kim think that his leash is longer than it really is, and how that might figure into Kim’s risk calculus.”

North Korea has so far shipped around 11,000 containers of munitions to Russia as well as 40 ballistic missiles used in Ukraine, Pak said. That has bolstered Putin’s forces after they got bogged down when their initial advance failed to take Kyiv, and as Russia’s defense industrial base was eroded by a wave of Western sanctions aimed at damaging Russia’s economy.

South Korea’s Defense Minister Shin Wonsik has said that Seoul estimates the containers could hold about 3 million rounds of 152 mm artillery shells used by the Kremlin in its bombardment of Ukraine. This has bolstered Putin’s arms stocks while Kyiv’s ammunition supplies have dwindled as military aid has been held up in the US Congress.

Russia in return is providing North Korea with food, raw materials and parts used in weapons manufacturing, Shin said. The food aid has helped Kim stabilize prices for necessities and the military aid could increase Pyongyang’s threat to the region, he added.

The value of the artillery alone is likely several billion dollars and the aid from Russia could represent the biggest boost to North Korea’s economy since Kim took power. Moscow and Pyongyang have denied the arms transfers accusations despite a multitude of satellite photos released by research groups and the US government showing the flow of weapons from North Korea to Russia and then to munitions dumps near the border with Ukraine.

One substantial way North Korea has benefited diplomatically from its burgeoning relationship with Moscow has been Russia’s veto of a United Nations Security Council resolution to extend a panel of experts that has reported on North Korea’s development of its nuclear arsenal for 15 years, Pak said.

There is now a real risk the highprofile nature of North Korea’s relationship with Russia could make its armaments more appealing to other groups around the world, Pak said.

Villar . . .

continued from A16

February 2024.

I just hope that more Filipino families will be able to start building or buying homes this year, with the support of the government and financing institutions.

Per the DHSUD, more than 30 housing projects under the 4PH are in various stages of implementation nationwide, with 195 local government units expressing interest to join the program. Pag-IBIG Fund started processing and releasing loans to contractors of 4PH projects to boost the flagship program of the Marcos administration, while Social Housing Finance Corp. agreed to implement projects in several parts of the country.

Honoring my beautiful and loving wife on our glorious 58th Wedding Anniversary

One substantial way North Korea has benefited diplomatically from its burgeoning relationship with Moscow has been Russia’s veto of a United Nations Security Council resolution to extend a panel of experts that has reported on North Korea’s development of its nuclear arsenal for 15 years, Pak said.

South Korea has already said that North Korean weapons have been used by Hamas, a US-designated terrorist group, against Israel as the war in Gaza drags on.

“The luster of legitimacy could give other bad actors ideas about North Korea’s weapon systems,” she said. “And North Korea has had a long history of proliferation in the Middle East, Africa, elsewhere. And we don’t want that to start blossoming into other proliferation relationships. So this is not just a Northeast Asia problem.”

Kim has shown off some of his newest weapons systems by displaying tests on state media. North Korea’s propaganda apparatus on Tuesday lauded its latest test overseen by Kim a day earlier of a simultaneous launch of short-range ballistic missiles in what it billed as its quick counterattack capability in a “nuclear trigger” system.

While North Korea has flouted Western sanctions and efforts to halt Russia’s war machine, Chinese firms have also been crucial to reestablishing the Kremlin’s defense industrial base with dual-use technologies and other components, the US has said. Chinese companies and banks have also been blamed for facilitating payments to North Korean entities, with that money funding Kim’s nuclear weapons and ballistic missile programs.

US Secretary of State Antony Blinken plans to bring up North Korea’s provocations when he visits China in the coming days, department spokesman Matthew Miller told reporters at a news briefing.

While Treasury Secretary Janet Yellen, on a recent trip to China, threatened Chinese financial institutions that aided Russia’s war with sanctions, it wasn’t clear whether the US would take similar actions when it comes to Chinese banks that are involved with North Korea.

Asked whether the US is currently weighing a similar threat of sanctions on Chinese banks involved with Pyongyang, Pak said: “I’m not going get into specifics, but we of course are considering all of the measures, in terms of both positive and negative actions, that we can take to get better sanctions compliance, sanctions implementation.” Bloomberg

To complement 4PH, the DHSUD committed to enhancing land use planning and urban development through its PLANADO (Plan & Do) program, which aims to establish “organized and well-planned settlements.” The private sector also has a crucial role to play in building homes for Filipino families. Our family business, for example, has built thousands of quality homes in wellplanned communities nationwide.

It is important that we work together with the government and financing institutions to fulfill the dreams of Filipino families in inhabiting sustainable, peaceful and flourishing communities that serve as engines of local economic growth.

For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar.com.ph

Dr. Jesus Lim Arranza

MAKE SENSE

(This marks a significant deviation from my typical column, which predominantly explores industry matters. I kindly request the understanding and indulgence of my readers as I seize this moment to honor my beloved wife, Evelyn, on the occasion of our 58th wedding anniversary.)

Life is a choice. from the time we are weaned from the loving care of our parents during infancy, when our destiny and fate depend entirely on their caring and nourishing hands, everything that happens to us in our lives during our growing up years are influenced by our choices in life.

That is why I consider myself blessed and lucky for having wooed Evelyn Dacanay Dumaguin with words of love and care, when I met her at the University of the East during our college days. Today, Evelyn and I are celebrating our 58th wedding anniversary.

And true enough, we did it all. As we said in our wedding vows when we had our complete wedding entourage over half a century ago, we continue to live together as a loving couple and caring parents and grandparents to our four children and nine grandchildren.

Among our principal wedding sponsors were then La Union Governor and Supreme Court Justice

Juvenal Guerrero, and my current boss at that time, Emilio Tañedo. Thus, if there’s such a thing as marriage made in heaven, I would consider my marriage to Evelyn as one, even if we went through the common trials and challenges in marriage. Evelyn is the disciplinarian in the family who can easily forgive, but not forget. She allows fair discussion among the family members for as long as it is done respectfully.

As a start-up family then, things were not that easy for us all, even if I was already working with a company owned by the late Ambassador Eduardo Cojuangco Jr. But with Evelyn’s thrifty and simple “Ilocana” way of life, we were able to realize

My dear Evelyn, I am forever grateful for your unwavering love and dedication over these past 58 years. Your steadfast trust and tireless care for our family has been a true blessing. Thank you for sharing this remarkable journey of loving togetherness with me.

our dreams.

And today I can look at our children with pride in my heart, as they are all successful in their own rights professionally and parentally. Our eldest daughter is now the Administrator of a US-based legal office with government contract as a public defender. As administrator of the legal office, she sometimes writes the pleadings of some of the office’s 28 lawyers.

Our second-born son is an international airline pilot who went to flying school as a PAL full scholar. He is now a full-fledged captain and check pilot of EVA Air. Our thirdborn son is now a US-based doctor specializing in internal medicine. And our youngest daughter finished a Bachelor’s Degree in Liberal Arts and later finished an interior design course and passed the government licensing examination to become a full-fledged interior designer and decorator. She also helps Evelyn in running the family-owned real estate business. Thus, I am reminded of that promise, and of course Evelyn’s

caring and loving hands that molded our children to what and where they are today.

But I am not only amazed at Evelyn as a loving wife, mother and grandmother to our children and grandchildren. I would even be more amazed that the woman I met at the University of the East when I was the speaker of the student government parliament, and she was a parliamentarian. She also had a sharp eye for business. She is now into the real estate business and a licensed realtor. As an interior designer, she herself designs our home with complete beauty and symmetry.

Thus, with Evelyn’s keen eye for business, coupled with her loving and caring attributes as a wife, mother and grandmother to our children and grandchildren, I cannot imagine how life would be without her.

My dear Evelyn, I am forever grateful for your unwavering love and dedication over these past 58 years. Your steadfast trust and tireless care for our family has been a true blessing. Thank you for sharing this remarkable journey of loving togetherness with me.

With all my love, Jess

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

Oil market sees Iran sanctions having muted impact on exports

By Ari Natter and Jennifer A. Dlouhy

LegisLatioN pushing Joe Biden to ratchet up sanctions on iranian crude oil is on track to become law as soon as this week. But don’t expect the president to fully use his new powers any time soon.

The measure was passed by the US House of Representatives over the weekend as a response to Iran’s attack on Israel earlier this month. On paper, at least, they promise to broaden the scope of restrictions on Iran’s exports of crude by extending coverage to foreign ports, vessels, and refineries that knowingly engage in the trade.

But oil market analysts say Biden will be loathe to make any moves that could increase the price of crude or the gasoline that US motorists buy at the pump. The president is likely to take advantage of the waiver authority built into the sanctions and avoid stringent enforcement, according to policy experts.

The situation to some extent mirrors that faced by the Biden administration with Russia and its invasion in Ukraine. Although the White House has imposed sanctions on Russia, it has tried to limit the country’s revenues while allowing its oil exports to keep flowing, so as not to squeeze global supplies and stoke inflation, a vital domestic consideration for the president in an election year. The administration also permitted Venezuelan oil to continue flowing last

China. . .

continued from A16

Economists at Citigroup Inc. said in a note that trade-ins under the plan could boost retail sales by about 0.5 percent this year, while equipment upgrades could increase China’s widest measure of investment by 0.4 percentage points through 2027. Last month, Goldman Sachs economists estimated a 0.6 percentage-point lift to GDP in 2024, with more than two-thirds coming from extra household spending, mostly on cars. That figure came before the State Council, China’s cabinet, released details. The immediate GDP boost isn’t the only objective, Wrigley says, contrasting the current program with the emergency stimulus China rolled out after the Global Financial Crisis.

week even as it renewed sanctions aimed at President Nicolas Maduro.

“Oil traders are nonchalant because they know Biden will certainly sign whatever waivers are necessary to keep Iranian oil flowing into the market just as he is keeping Russian barrels flowing into the market,” said Jim Lucier, managing director at Capital Alpha Partners, a Washington-based research group.

The White House National Security Council declined to comment on the sanctions. The administration is still analyzing the legislation, but no impact on oil markets is expected before the fall, a person familiar with the matter said.

The oil market is particularly sensitive right now to the potential for further constraints. Brent crude prices exceeded $92 a barrel earlier in April, their highest in almost six months, amid strong global demand and ongoing production cuts by Opec and its allies.

The situation to some extent mirrors that faced by the Biden administration with Russia and its invasion in Ukraine. Although the White House has imposed sanctions on Russia, it has tried to limit the country’s revenues while allowing its oil exports to keep flowing, so as not to squeeze global supplies and stoke inflation, a vital domestic consideration for the president in an election year. The administration also permitted Venezuelan oil to continue flowing last week even as it renewed sanctions aimed at President Nicolas Maduro.

nancial Services Committee.

The legislation would expand the definition of a “significant financial transaction” under existing US sanctions to include transactions of any size made between Chinese and Iranian financial institutions to purchase Iranian oil, according to a summary of the legislation by Bloomberg Government.

There is a “new element of risk” that the measure could be directed at ports, vessels and refineries that engage in the shipping, processing and other transactions involving Iranian crude oil, said Fernando Ferreira, director of Rapidan Energy Group’s geopolitical risk services. However, they’re also subject to a potential waiver, allowing Biden to make exemptions in cases where national security is deemed a concern.

“It is unlikely they will enforce this thing with gusto,” Ferreira said of the administration. “Maybe we see a small reduction in imports as a degree of caution.”

The latest sanctions are part of a foreign aid package slated for Senate passage later this week. They include provisions to eliminate China’s use of sanctioned Iranian oil, effectively clarifying powers that already exist.

About 80 percent of Iran’s roughly 1.5 million barrels per day of exports go to China, to be processed by small independent “teapot” refineries, according to a report by the House Fi-

If implemented and enforced, the new sanctions could add as much as $8.40 to global prices, according to ClearView Energy Partners, a Washington-based consulting firm. That would be bad news for Biden, who has already tapped the nation’s Strategic Petroleum Reserve after the cost of domestic fuel spiked higher in 2022. While US gasoline prices are still some way off the levels seen then, they have advanced this year, with peak driving season still to come.

“The program sets targets for 2027, implying medium-term growth support for domestic demand to offset the drag from the slowly adjusting property market,” he says.

4. Will it help rebalance the economy?

Xi has called for a focus on advanced industries, and China’s EV success is a symbol of that governmentguided effort. But China is accused by the US and Europe of flooding global markets with cheap goods and not doing enough to encourage local demand. The trade-in plan, by helping Chinese buyers, could go some way toward addressing that criticism. For carmakers, who face likely countermeasures in the European Union this year, it offers a hedge against a potential slowdown in exports. More broadly, the way support is allocated between households and

industry—which isn’t entirely clear yet—will reveal whether the program can help offset an over-reliance on investment versus consumption to drive economic growth.

Another charge against Beijing, reiterated by German Chancellor Olaf Scholz during a visit last week, is that international firms suffer discrimination in Chinese markets.

At the April 11 briefing, a Ministry of Commerce official emphasized foreign and domestic companies will get equal treatment under the trade-in plan.

5. What will happen to the old stuff?

By requiring higher standards for the recyclability of products like lithium batteries, the plan will help Chinese businesses expand in overseas markets, especially “regions that have high environment standards,”

Still, sanctions waivers may become harder for Biden to defend if Iran and its proxies engage in more direct aggression toward Israel.

“Using the waivers if Iran is continuing its regional aggression could be as politically damaging as high gasoline prices,” said Kevin Book, managing director of ClearView Energy Partners, a Washington-based consulting firm. With assistance from Jennifer Jacobs, Justin Sink, Alaric Nightingale and Daniel Flatley /Bloomberg

Ding says.

The program includes investment in recycling networks, with 2,000 stations to be added across China this year, and logistical systems. E-commerce firms and appliance producers, for example, will be encouraged to collect old machines at the doorstep.

As of last year, China had 336 million cars and more than 3 billion fridges, washing machines and airconditioners, according to Beijing. Recycling even a small share would be a challenge.

“China has repeatedly fallen short of its own car and appliance recycling targets,” says Wrigley at Pantheon. “Many supposedly recycled cars end up back on the road, despite being a safety hazard and

PHL EYES JAPAN, US NICKEL ORE MARKET VIA MINERALS DEAL

TBy Andrea E. San Juan @andreasanjuan

HE Philippines needs to accede to the critical mineral agreement between the United States and Japan to ensure “resiliency of supply” of nickel ores and to enable the Philippines to attract more investments into mineral processing, according to Trade and Industry Secretary Alfredo E. Pascual.

“Now, Japan has a critical mineral agreement with the US, but they don’t produce nickel ores. Nickel ores come from the Philippines through a Japanese company that has a processing plant here. Not large scale, yes Sumitomo. They have two [high-pressure acid leach] HPAL processing plants,” Pascual told reporters at a recent briefing.

The Trade chief underscored the need for the country to be part of the agreement between the two developed economies to ensure “resiliency of supply.”

“And I told our meeting that if it’s difficult to have one-onone or bilateral critical minerals agreement between the Philippines and the US, what we can do is just accede to what is existing now, which is the Japanese and American critical minerals agreement,” added Pascual.

According to him, critical minerals was among the topics discussed at the recent trilateral meeting with the trade chiefs of Japan and the US. He said he emphasized the country’s status as a major producer of critical minerals.

He also noted that now that Indonesia has banned export of nickel ores, the Philippines is the only major producer of mineral ores that is still selling to the global market, particularly China.  “So, China is able to get, I think, 90 percent of our export of nickel ores, giving them a major hold on the nickel market, particularly the downstream products coming out from nickel, meaning battery precursors and

batteries, themselves,” the Philippines’s trade chief said.

From a “strategic” standpoint, Pascual said, this would affect the supply needed by countries like Japan and eventually, the United States.

Pascual noted that while this is still a proposal by Manila and there is no common agreement yet, “The Japanese are open to it,” while the US government still has to decide on the matter.

“We just proposed the idea, then they have to mull it over,” said Pascual.

Explaining the importance of this agreement, he noted that if the country is part of it, there will be an assurance of supply for the US and Japan.

“This proposed agreement will be a good signal and an incentive for the Private Sector to invest in ore processing in the Philippines. The US and Japan and the rest of the world need the Philippines’s critical minerals, especially nickel, cobalt and copper,” the Department of Trade and Industry (DTI) said in a statement last week.

Meanwhile, Pascual said Manila can also take advantage of this agreement by attracting US companies to invest in mineral processing in the Philippines.

It is difficult to persuade US firms if the Philippines is not part of such an agreement, he explained, adding, “ The way I see it, the American investors, if we are not part of such agreement, they don’t have the signal that the Philippines is okay [to invest in].”

Early this year, the Board of Investments (BOI) Managing Head Ceferino S. Rodolfo said the Philippines is focusing on attracting investments in nickel processing, particularly those that would produce battery precursor materials.

(See: https:// businessmirror .com.ph/2024/01/05/ phl-eyeing-nickel-processingto-propel-bid-to-grab-no-2spot-in-asean-fdi-race/)

Hundreds rally vs plans to nullify Masungi deal

By Roderick L. Abad @rodrik_28

MORE than 500 supporters of the Masungi Geopark Project gathered for a solidarity event to protest the plans of the Department of Environment and Natural Resources (DENR) to abolish the contract for this protected area.

Called Rock for Masungi, the hybrid activity sought to provide a safe space to speak up and speak out, especially for supporters, stakeholders, and partners who called for a means to back up this awardwinning conservation project.  “We’re gathered here to show our unwavering support for Masungi Georeserve and send a clear message to Secretary Yulo Loyzaga and the DENR: the incredible community of people who have seen firsthand the important conservation work being done at Masungi will not stay silent in the face of the upcoming cancellation or nullification order,” said Ateneo Alumni Association Treasurer Goody Hernandez, who leads the Friends of Masungi that organized the event recently at the GT Toyota Asian Center Auditorium in University of the PhilippinesDiliman.

On April 25, 2017, the Masungi Georeserve Foundation Inc. (MGFI) signed a Memorandum of Agree -

2-mo state infraspend rises 6.7% on road, defense works

By Reine Juvierre S. Alberto

THE state ramped up its infrastructure spending for the first two months of the year by 6.7 percent to P120.5 billion to fund the government’s road infrastructure programs and defense modernization projects.

Latest data from the Department of Budget and Management (DBM) showed state infrastructure expenditure and other capital outlays reached P120.5 billion from January to February, up by 6.7 percent or P7.5 billion, from the P113.0 billion recorded in the same period in 2023.

The DBM traced the increase in infrastructure spending to higher disbursements posted by the De -

partment of Public Works and Highways (DPWH) and the Department of National Defense (DND).

The DPWH credited its spending performance to its expeditious processing and payment of accounts payables and mobilization fees/ advances to contractors for projects under the FY 2024 General Appropriations Act.

In addition, the DPWH also spends on the monitoring of physi -

cal and financial accomplishments of their implementing offices nationwide and fast-tracking of implementation and completion of carryover projects.

The DBM noted, however, that lower cash receipts moderated the growth of infrastructure spending without the P10.1-billion direct payments made by the Asian Development Bank for the Department of Transportation’s (DOTr) South Commuter Railway Project 1 in February 2023.

The overall state spending as of end-February rose by 16.4 percent to P722.5 billion from last year’s P620.7 billion, noting higher interest payments, larger transfers to Local Government Units, and higher maintenance and other operating expenses (MOOE).

A total of P1.193 trillion or 20.7 percent of the P5.767-trillion obligation program of the year remains undisbursed as of end-February.

The remaining releases would mainly be composed of interest

payments at P670.5 billion, Special Purpose Funds or SPFs at P341.9 billion, and agency-specific budgets at P155.6 billion, according to the DBM.

“Spending for the year will continue to be underpinned by sizable investments in both public infrastructures and social sector programs acting as fiscal stimulus to help shore up economic growth and secure gains from poverty reduction initiatives,” the DBM added.

Based on the 2024 GAA, infrastructure outlays have been increased to P1.510 trillion from P1.330 trillion. For 2023, infrastructure spending reached a total of P1.204 trillion, up by 18.7 percent or P189.3 billion from P1.015 trillion in 2022, based on DBM’s data.

This is on the back of the robust spending performance of the DPWH amid their higher target disbursement rate for their current year budget, constant monitoring of project accomplishments, and expedited processing and payment of accounts payables.

ment (MOA) with the late Environment Secretary Gina Lopez for the protection of the nature reserve and wildlife sanctuary covering 2,700 hectares in the city of Antipolo and the towns of Baras, Tanay, Rodriguez, and San Mateo, all in Rizal. The pact gave the MGFI a “perpetual land trust” over the area which is now a resort referred to as Masungi Georeserve. Because of alleged irregularities in the project, the DENR plans to cancel its questionable contract.

“How can [the DENR] say that they are evidence-based when they haven’t talked to the people who are actually there, talked to the communities who are benefiting from this, talked to the people who are actually protecting the environment? If they ask me where is the evidence, I say look around this room [or the auditorium],” Youth Action for Climate Action Philippines (YACAP) & Fridays for Future International Spokesperson Mitzi Jonelle Tan pointed out.

Loyzaga, the group said, has declined “to even visit Masungi or engage in real dialogue with its stakeholders before making this decision that will impact so many—all of us, included,” according to Hernandez. He also noted the agency’s use of “blatant disinformation” with the publication over the weekend of news releases “riddled with false allegations against Masungi.”

AG&P, VNHIC seal pact for $15-B Visayas islands infra

ABy Rizal Raoul S. Reyes @brownindio

G&P Industrial and the Visayas Neceboley Interlink Holdings Corp. (VNHIC) signed a memorandum of understanding (MOU) on Tuesday for a $15-billion mega infrastructure project that will connect the four major islands in the Visayas through state-of-the-art bridges and expressways.

AG&P Industrial President Alex Gamboa said the colossal project will boost not only the economy of the provinces, but it will also contribute to the country’s GDP.

“From a financial perspective, it’s going to be the biggest ever project of AG&P in its history. I would say probably in its 125-year history. Right now, we estimate the direct cost of the project to be around $15 billion. Today, I think the biggest projects we’ve ever done were a $460 million project and a $440-million project,” Gamboa said.

“Imagine this one is 15 times those two combined projects. So,

that’s one. The second is its impact on the Filipino people. This project itself will directly impact 22 million Filipinos in the Visayas region. And imagine how it will impact at the national level right because there will be indirect impact to other industries, the business sector and all of the other industries that did this,” he added. The subsidiary of AG&P Group said Project Neceboley aims to connect the four islands in the Visayas—Negros, Cebu, Bohol and Leyte.

Meanwhile, VNHIC was given certificates of acceptance thereby granting it original proponent status by the provincial governments of Negros Oriental, Cebu, Bohol and Southern Luzon to develop Project Neceboley through a collaborative joint venture initiative with the provincial government under the Public-Private Partnership (PPP) framework. Gamboa said AG&P will serve as technical lead for the project, as well as the execution arm of the group. He said the company will also provide financial backing to

the project. At present, three major commercial banks are joining the project.

“In terms of commitment, it would require our entire workforce not to be part of this project. But the entire management of AG&P will be directly involved. And with the scale of this, we would have to raise the ante up and build up our organization to fully execute this project,” he said.

The project will be backed up by a private consortium of global partners that will finance, design, construct, and maintain the bridges, road and mass transit network composed of four lane bridges with expanded expressways. Moreover, the consortium will also handle infrastructure works, such as the construction of ducts.

Other major sources of income of the project are from reclamation development, water supply and real estate development.

As the project proponent, VNHIC Chairperson Angel Pio Veloso Jr. said the company will procure the requirements, plan and reporting based on the rules, regulations and policies of the local government units (LGUs) and engage AG&P Industrial in meetings with LGUs and other government institutions to ensure the alignment of obligations upon the award of the project.

The project will be executed in two phases. Phase 1 will be focused on the construction and operation of a 238.05-kilometer bridge, toll road expressway network that will link the four major islands of the Visayas. It is further divided into six packages which will involve the building of a bridge spanning from Sibulan (Negros Oriental) to Santander in Cebu. Phase 2 will be centered on land reclamation and horizontal development of 568 hectares foreshore and offshore in the Visayas region and the development of the reclaimed land into ready-to-use complexes for residential, commercial, industrial and other six tourism-related purposes.

Companies

Firms told to help ease tight power supply by joining ILP

By Lenie Lectura @llectura

The Manila electric Co. (Meralco) and the Department of energy (DOe) are urging more companies to sign up for the Interruptible Load Program (ILP) to help ensure power supply sufficiency throughout the dry season.

The ILP is a voluntary and demand-side management program which calls on big power consumers to temporarily de-load from the grid and use their own generating units or reduce their operations when there is insufficient power supply.

“We call for your support and cooperation for the country’s objective of having continuous power supply by participating in the ILP and being part of the solution to the power supply challenges,” said Irma Exconde, director of the DOE’s Electric Power Industry Management Bureau.

As of April 2024, the total capacity available for de-loading in Meralco’s area is more than 500 megawatts (MW) from more than 100 companies. Meralco Vice President and Head for Enterprise and National Government Ma. Cecilia M. Domingo said the program has enabled to utility firm to ensure continuous, stable and reliable electricity service.

“The active participation of ILP participants in the Meralco franchise area in recent days is worth highlighting as it has greatly helped relieve

pressure from the power grid, sparing thousands of small businesses and households from rotating power interruptions,” Domingo said, adding that Meralco is proactively engaging more customers to increase the available de-loading capacity under the program.

The support of ILP participants has proven to be highly critical in avoiding rotating power interruptions in the Meralco franchise area even after the Luzon grid was placed under red alert for three days last week.

“Bayanihan continues to be our battle cry this year as we all try to do our part to mitigate the impact of El Niño on the power sector,” Meralco Vice President and Head of Utility Economics Lawrence Fernandez said.

Since 2014, it has been implemented 27 times in the Meralco franchise area. Last week alone, the program successfully spared around 1.9 million households from power interruptions.

The Luzon and Visayas grids were placed on red alert last April 16 due to tight power supply caused by the

SM Prime postpones launch of REIT

By VG Cabuag @villygc

SHOPPING mall

operator

SM Prime Holdings Inc. said it has decided to put on hold its real estate investment trust (REIT) offer, from which it intends to raise some $1 billion, due to market volatility.

Jeffrey C. Lim, the company’s president it decided to postpone the listing of its REIT this year.

“I don’t think we can do it [REIT] this year. We will continue to assess as we move forward, because so far, we’re able to find our requirements to borrow…it’s better for us to postpone it,” Lim said.

outages of power plants.

The Institute for Climate and Sustainable Cities (ICSC) also said the Luzon grid may experience tight power supply in May, particularly from May 13 to 26, potentially leading to yellow alerts due to El Niño.

A red alert status is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement.

In a report released on April 16, Chief Data Scientist Jephraim Manansala of the Manila-based think tank said any unplanned outages may further deplete operating reserve levels and affect the grid’s reliability.

“As El Niño reduces the available capacity from hydroelectric power plants, all baseload power plants need to be compliant with the approved Grid Operating and Maintenance Program [GOMP] of the NGCP [National Grid Corporation of the Philippines] and DOE [Department of Energy],” he said. This year’s GOMP stated that no baseload plants should undergo any outages, both scheduled and unscheduled, from April to June.

THE Securities and Exchange Commission (SEC) on Tuesday said it is working with Google and Apple for the removal of applications operated by cryptocurrency giant Binance in app marketplaces accessible in the Philippines.

In separate letters addressed to Google and Apple, the SEC has requested for the removal of applications controlled by Binance. com from Google Play Store and the Apple App Store, respectively.

“The SEC has identified (Binance) and concluded that the public’s continued access to these websites/apps poses a threat to the security of the funds of investing Filipinos,” said SEC Chairman Emilio B. Aquino.

Removing and blocking applications of Binance will “prevent the further proliferation of its illegal activities in the country, and to protect the investing public from its detrimental effects on our economy,” Aquino said.

This follows the request by the SEC to the National Telecommunications Commission to block access to websites used by Binance in the country to help stop its unauthorized investment solicitation activities in the country.

The SEC warned the public

against investing in and using Binance, as well as started studying the possible blocking of Binance’s website and other online presence in the Philippines, as early as November 2023.

Binance offers a platform for trading financial instruments and investment products, including spot trading using leverage, futures contracts, option contracts, cryptocurrency savings accounts, cryptocurrency staking services, and a platform for initial coin offerings.

It currently has an average daily trading volume of $65 billion covering more than 402 cryptocurrencies, with a membership of over 183 million, making it the largest cyprtocurrency site in the world, according to its website. The group has been actively employing promotional campaigns on social media to attract Filipinos to engage in investment and trading activities using its platforms.

Binance, however, has not secured from the SEC a license to solicit investments from the public, nor to create or operate an exchange for the buying and selling of securities, as required by the Securities Regulation Code.

“The project (reclamation) right now is on track. We are following in our timeline, it has not moved yet. We have worked out a program to speed up the cuts up on our timeline,” Lim said.

The reclamation project covers 360 hectares and is undertaken jointly with SM Smart City Infrastructure and Development Corp. It will be connected to the Mall of Asia complex.

For now, SM Prime said it will continue its expansion program in its key business units and provide the company a stronger presence in major areas across the country.

The company said it is looking at P100 billion in capital expenditures (capex) this year to support

Proceeds of the said REIT float was supposed to fund SM’s 600-hectare reclamation in the Manila Bay, which the company said costs about $3 billion.

various programs.

Lim said the company will use internally generated funds and take out loans from the banks to fund its capex.

SM Prime is scheduled to open four new malls in the Philippines this year, which will provide more than 400,000 square meters of gross floor area.

“We aim to launch 8,000 to 10,000 residential units for our residential business,” the company said.

SM Prime has declared cash dividends of P0.346 per share, amounting to P10 billion to all stockholders of record as of May 8 this year payable on or before May 22.

The declared total amount is higher than the P6.8 billion it declared in 2023.

LRC files petition against OceanaGold FTAA

NONPROFIT organization

Legal Rights and Natural Resources Center (LRC) filed a petition for certiorari seeking the reversal of the Financial or Technical Assistance Agreement (FTAA) issued to OceanaGold Philippines Inc. (OGPI).

LRC filed the petition before the Bayombong Regional Trial Court on behalf of Nueva Vizcaya stakeholders last Monday. The group claimed that the petition was based on the lack of consultation with communities and disregard for local autonomy.

“The President’s renewal of the agreement without prior consultation and the endorsement of the local government constitutes grave abuse of discretion. The Local Government Code requires the national government to conduct consultations with different stakeholders before the implementation of an environmentally critical project. Since no prior approvals have been secured by OGPI over its renewed FTAA, the project cannot be implemented and should be deemed illegal,” Atty. Ryan Roset, senior legal fellow of LRC, said in a statement.

Citing Presidential Decree 2146, LRC said an environmentally critical project (ECP) is a project that has high potential for a negative environmental impact.

According to LRC, Section 96 of the 1995 Mining Act stipulates that the violation of the terms and conditions of the permits or agreements shall be a sufficient ground for cancellation of the same. This provision was repeated in Section 56 of the Mining Act’s Implementing Rules and Regulations, which enumerate the mandatory provisions under an FTAA.

The group claimed that OGPI’s operations violate the provincial ordinance against open-pit mining. “Local autonomy allows the enactment of ordinances to protect the environment, making local government units more responsive, accountable, and empowered in managing their jurisdictions.”

Remittance M EANWHILE , OGPI announced on Tuesday that it remitted $20.3 million (P1.1 billion) in additional government share for the first time to the Philippine government pur -

suant to the terms of its FTAA.

OGPI made the payment at the Department of Environment and Natural Resources in the presence of DENR Secretary Maria Antonia Yulo-Loyzaga, Mines and Geosciences Bureau Officer-in-Charge Director Danilo Uykieng, Quirino Governor Dakila Cua, Nueva Vizcaya Provincial Planning Development Officer Engr. Edgardo Sabado, Kasibu Municipal Councilor Georgette Tucpi-Allaga, and Didipio Barangay Councilor Gideon Mores.

“This is the first FTAA and the first that has been delivered by a woman CEO. The DENR would like to express our sincere gratitude to OceanaGold for this remarkable contribution. You (OGPI) are not only a trailblazer in terms of leadership, in terms of being FTAA No. 001, you are also in terms of the delivery of these returns to the government, to the nation,” Loyzaga said in a statement.

Under its FTAA, the government and OGPI share the net revenue on a 60-40 basis, where the government receives 60 percent of the net revenue and OGPI receives the remaining 40 percent.

VG Cabuag

Ayala Corp. arm’s retail drugstore chain purchase reviewed on competition concern

By Andrea E. San Juan

THE Philippine Competition Commission (PCC) said it will conduct a “more detailed” review of the proposed acquisition by Ayala Corp.’s pharmaceutical arm of a Northern Luzon drugstore chain after the competition watchdog discovered “potential” competition concerns in the retail sale of pharmaceutical and non-pharmaceutical products in the region.

In a statement on Tuesday, the competition watchdog reported that an initial data-gathering by PCC Mergers and Acquisitions Office (MAO) under its Phase 1 review pointed to “potential competition concerns” across 28 localities in Northern Luzon.

With this, PCC said its mergers and acquisitions arm recommended opening a Phase 2 review which requires conducting a “more detailed and extensive assessment” on whether the transaction may lead to a “substantial lessening” of competition in the relevant markets.

AHCHI Pharma ventures Inc. (Ayala Pharma ventures), which operates Generika Drugstore and North Luzon-based pharmaceutical firm Joleco Resources, which operates St. Joseph Drugstore, notified PCC last January 13 of their proposed transaction, which would involve Ayala Pharma ventures acquiring a 49-percent share in Joleco Resources.

In December, Ayala Healthcare Holdings Inc. (AC Health) announced having acquired a minority stake in Joleco Resources Inc., which operates stores under the name “Saint Joseph Drug.”

Established in 1958 by Dagupan City-based pharmacist Jose Cruz and wife Leila Lagman, Joleco has grown Saint Joseph Drug from a modest provincial drugstore, with

three employees and a 3.5-meter storefront, into a leading regional pharmaceutical chain spanning over 112 stores across Northern Luzon.

AC Health President and CEO Paolo Maximo F. Borromeo said in December that the addition of Saint Joseph Durg to AC Health’s portfolio “is in line with our commitment to enhance accessibility and affordability of healthcare for Filipinos nationwide.”

“Saint Joseph Drug, alongside our existing retail pharma brand, Generika Drugstore, will expand our capacity and footprint to distribute quality and affordable medicine to our countrymen,” they also noted.

For his part, Joleco Chairman, President and CEO Socorro Dorotea L. Cruz expressed “enthusiasm” about the partnership.

“This partnership with AC Health marks a significant milestone in Saint Joseph Drug’s journey. We are proud to have established Saint Joseph Drug as a household name in Northern Luzon over the years, and we look forward to broadening our reach with AC Health,” Cruz said.

AHCHI Pharma serves as the holding company for AC Health’s pharmaceutical businesses that are composed of Generika Drugstore, I.E. Medica and MedEthix, its pharmaceutical-goods importation and distribution arms. (See: https:// businessmirror.com.ph/2023/12/22/ ayala-buys-minority-stake-in-pharmafirm/) The PCC said that as the PCC clearance is still being processed, the transaction remains proposed for now.

Under the Philippine Competition Act of 2015, the PCC is mandated to review mergers or acquisitions to ensure that “these deals will not substantially lessen competition in the relevant markets and harm consumer welfare.”

First OTOP PHL store opens in Libjo town in Dinagat Is.

IN a significant blow for local entrepreneurship in the Municipality of Libjo, the Department of Trade and Industry-Province of Dinagat Islands, in partnership with Libjo Mining Corp., Department of Public Works and Highways-Province of Dinagat Islands, and the Local Government Unit headed by Hon. Melody Llamera-Compasivo, proudly inaugurated the first One Town, One Product Philippines (OTOP.Ph) Store in the Dinagat Islands recently. This initiative is aimed at empowering the local community by connecting local producers with wider markets and increasing confidence in their unique products.

The launching of the facility was graced by Mayor Melody L. Compasivo, Mr. Isidro Manuel Trinidad, and Engr. Eldy Catugas of Libjo Mining Corporation, Engr. Abernabe Bacolod of DPWH-Dinagat, Barangay San Antonio Council through the leadership of Nicolas Gealan, members of Angat Libjoanong Produkto Cooperative, and DTI Dinagat Provincial Director Elmer M. Natad. OTOP Philippines, a flagship program of the DTI Philippines, has been instrumental in economic development across various regions. With Brgy. San Antonio as a strategic location within Libjo, the initiative

Sales leaders are hope-givers

I’vE known many people who tried to get into a sales career but ended with a very short stint. And it’s not because they can’t sell, but because they lost hope in closing transactions. And that’s exactly where sales leaders play a vital role— to give hope. Here’s a few tips for sales leaders in their role as hope-givers.

Share your story

THE most powerful tool for inspiration is your story. And that’s why you need to take stock of your past challenges, difficulties and struggles, and how you were able to hurdle these to get to where you are today. Your people need to hear this, because from their current standpoint, you are already above standards. That’s right: for them, you are already almost perfect when it comes to selling and will never have difficulty navigating the various customer rejections and objections. But the truth is that you were just like them. When you were just starting, you also experienced desperation and was also on the brink of losing hope and giving up. And by sharing this story, they will come to realize that it takes time to succeed in this profession, and just like you, they also need to persevere and continually move forward. Knowing your story will definitely give them hope that they too can become like you or even better.

Remind them that it’s a numbers game Y ES indeed, selling is a numbers game. And the soonest they realize and accept this truth, the better their mindset would be. Guide them in discovering their batting average in closing transactions. And get them to the right amount

of prospects in order to generate their desired amount of sales. For starters, the batting average of a new sales person is usually 10 percent. This means that for every 10 prospects that they talk to, they will be able to close at least one transaction. So if they want to close three clients, then they need to meet with at least 30. The general rule is this—the more prospects you talk to, the higher probability of closing.

Be available during the stages of failure

WHEN you were just starting in your sales career, you also experienced failures—rejections and objections and many other forms of sales-related disappointments. And from your years of experience as a sales leader, you are now acquainted with such struggles and the usual timing of such occurrences. Guess what? Your people will most likely experience them too. And that’s why you have to be there during these stages of failure so you can guide them and help process the experience. Timing is most important.

And by being at the right place and at the right time, you will be able to guide

Show how it’s done

FINALLY, show them how it’s done. Sometimes it’s not enough to show them the way. There is also a need to walk the talk and allow them to see you in action. It’s basically show and tell—you show them how it’s done, then proceed to tell them what you did, why you did it, and how you did it. During times when a person is beginning to lose hope, they need their leader to show them the right way to move forward. Your actions will spell the difference for your team’s success. So go ahead, please show them how it’s done!

underscores its commitment to bolstering economic activities, enhancing living standards, and reinforcing producer confidence in the value of their goods.

Designed as more than just a retail outlet, the OTOP.Ph Store in Libjo serves as a beacon of encouragement for local food producers, artisans, and craftsmen. The store showcases a diverse range of products, from organic food items to intricate handicrafts, all made within Libjo. Each product not only reflects the creativity and hard work of the locals but also tells the compelling story of the community’s spirit. The OTOP.Ph Store Libjo goes be -

yond selling products; it operates in conjunction with the Negosyo Center Libjo to provide comprehensive support for entrepreneurs. This includes offering training programs, marketing assistance, and business development services aimed at helping nurturing startups expand their operations and enhance market competitiveness.

The launching of the OTOP.Ph Store in Libjo is anticipated to create a ripple effect throughout the province, encouraging more local producers to engage and innovate.

Furthermore, it is hoped that this pioneering project will inspire neighboring municipalities to establish their own OTOP.Ph stores, fostering a network of entrepreneurial growth across the Dinagat Islands. With the launch of this store, DTI said Libjo sets an inspiring example of how targeted support and infrastructure can help local economies thrive by making native products accessible to a broader market, thus empowering local producers and entrepreneurs to reach new heights of success.

Estrada bill mandates workers’ fin-lit

By Butch Fernandez @butchfBM

SENATOR Jinggoy Estrada is banking on Congress to promptly pass a bill for Malacañang to enact a law mandating financial literacy program for workers.

In filing Senate Bill (SB) 2630, Estrada said the enabling legislation is awaited “to help workers make sound financial decisions,” adding that the enabling bill also aims to require employers nationwide to provide a “free financial literacy program for all its employees.” The senator explains that “the role of employers to take a lead in this endeavor cannot be undermined because they provide the most accessible venues and channels for such initiatives.”

Kung gugustuhin ng mga employers, magagawan ito ng paraan para maitaas natin ang antas sa kaalaman ng ating mga manggagawa kung paano sila makakapag-ipon, mamuhunan at iba pa,” Estrada added. [This can be

done as a way to raise the level of knowledge of our workers on how they can save, invest and so on.]

In explaining his proposed Personal Finance Education in the Workplace Act contained under SB 2630, Estrada assured: “This will benefit the employees and workers because it will give them the knowledge and skills to effectively and efficiently manage their resources and allow them to be financially stable.”

The chairman of the Senate Committee on Labor, Employment and Human Resources Development explained that “companies will, likewise, benefit from financially-stable employees who are more focused on their tasks, thus more productive and satisfied in their work.”

Under the bill, employers will be mandated to provide a personal finance education program for all its workers which will include topics on behavioral finance, savings, emergency and resilience fund de -

velopment, debt management, investment, insurance and retirement planning, and other applicable personal finance programs.

The Department of Labor and Employment (DOLE), in consultation with the Bangko Sentral ng Pilipinas (BSP) and other concerned government agencies, shall make available the standard content of the program.

The employer may conduct the program in-house, outsourced, or through other available options.

In filing the bill, which seeks to amend a provision in Presidential Decree No. 442, otherwise known as the Labor Code of the Philippines, Estrada said a survey conducted by the BSP showed that only 1 percent of surveyed Filipino adults answered the questions on financial literacy correctly.

Further, according to the World Bank, only 25 percent of adult Filipinos are knowledgeable about basic financial concepts.

’24 Panaad Sa Negros Festival nets ₧19M

BACOLOD CITY—Local government units (LGUs) and other sellers in Negros Occidental raked in P19.25 million in total sales during the week-long Panaad Sa Negros Festival, which ended Sunday night.

The province’s “festival of all festivals” featured 32 LGU pavilions, including that of this highly-urbanized city, agriculture and veterinary exhibits, trade fairs, food alleys and garden shows from April 15 to 21 at the Panaad Park and Stadium here.

Governor Eugenio Jose Lacson said on Monday the total sales decreased this year, indicating a slowing down of the purchasing power of the Negrense middle class.

Based on the summary report re-

leased by the provincial government Monday afternoon, this year’s total sales of P19.25 million is lower by 18.65 percent or P4.413 million compared to the previous year’s P23.663 million.

“If people have money, they would be able to adjust to the hot weather. It’s more on the purchasing power really,” Lacson said.

“The events were well attended.

While people were there, they were not buying as much as last year. I also noticed a lot of young people. You cannot expect them to go out and splurge,” he said.

The governor observed that during the events such as the Best of Festival Dances Competition, Pop Dance Competition and the Lin-ay Sang Negros coronation night, the venue was “filled

to the rafters.”

The 2023 Panaad Sa Negros Festival was the first staging of the festivities three years since the onset of the Covid-19 pandemic.

In his closing message Sunday night, Lacson lauded the collaboration of the LGUs with the provincial government that “exceeded the expectations of our constituents for this year’s Panaad sa Negros Festival.”

“Without our accord, we wouldn’t be here celebrating this big yet profoundly meaningful event,” he said.

“Let us carry with us the memories, experiences, and bonds forged over the past week as we look forward to the bright future ahead for Negros Occidental,” he added. PNA

Banking&Finance

Bond sales tepid as investors spooked by geopolitical risks

By Reine Juvierre Alberto

THE national government made a partial award of the reissued 20-year Treasury bonds (T-bonds) on Tuesday’s auction, raising only P16.633 billion due to high investors’ asking yields.

The Bureau of the Treasury (BTr) partially awarded the 20-year T-bonds worth P30 billion, which fetched an average rate of 7.017 percent.

The average yield fetched by the T-bonds is higher compared to the 20-year PHP BVAL yield at 6.80 per-

CLARK FREEPORT–The Clark Development Corp. (CDC) announced having partnered with the Land Bank of the Philippines (LandBank) to introduce an online payment option for Clark locators.

cent as of April 22 as well as the 6.189 percent previous 20-year T-bond auction yield on March 19.

Data from the Treasury showed that offers made by investors for the yield ranged from a low of 6.900 percent to a high of 7.080 percent.

According to the Treasury, the

Accessible through the LinkBiz. Portal provided by LandBank, this platform offers locators a convenient way to electronically pay for permits, lease rentals, visa-related fees, and other applicable charges, read the statement the CDC issued last Wednesday. Referring to the LandBank’s website, the CDC noted that the Landbank portal enables clients to make payments for various products and services online, including those from government and private institutions.

Dealing with a weak peso

6.987 percent had the committee approved the bids.

For April, the national government plans to borrow as much as P120 billion from the tender of T-bonds, the same as the targeted amount last month. The Treasury is scheduled to hold four auctions of T-bonds with varying tenors to raise as much as P30 billion each.

The state is also targeting to raise P195 billion in April from the combined sale of T-bonds and Treasury bills (T-bills).

The government also aims to borrow, following a 75:25 mix in favor of domestic sources, a total of P1.853 trillion from the domestic market through the sale of T-bills and T-bonds, based on state budget documents.

Fixers still rankle BIR as chief warns public

SEVENTEEN years after the Anti-Fixer Law was enacted in 2007 and ahead of the several tax deadlines this April, the Bureau of Internal Revenue’s (BIR) top official reminded the taxpaying public to refrain from transacting with “fixers.” Through a statement the BIR issued last Tuesday, Internal Revenue Commissioner Romeo D. Lumagui Jr. warned taxpayers of fixers promising to “fix”

of private individuals named by the BIR as Christopher Leo Culta, Lioric Amiel Chan, and Kyle Dean Sia, pretended to be employees of the BIR. The syndicate extorted P3.6 million from a taxpayer using their alleged connection with highranking BIR officials, according to the agency.

and may be processed in its offices.

“There is no need for a ‘fixer’ because there is already a system in place,” it said.

The BIR added that it has adequate revenue memorandum circulars, revenue memorandum orders, and other regulations that will guide taxpayers in dealing with these concerns.

“The arrest of this syndicate of fixers serves as a reminder to all taxpayers to avoid dealing with these groups and to always verify the authority of any person in dealing with your tax obligations,” Lumagui said.

Members of the syndicate was arrested on April 12, 2024, and will face charges of estafa or fraud, according to the BIR.

In addressing these corruption issues, the BIR said Lumagui has set a program in place to instill “integrity and professionalism” within the taxcollection agency.

ON May 2, 2019, the peso was at 51.7808 to the US dollar, and was as strong as P47.66 to $1 on June 1, 2021; hitting a low of 59.0197 on October 10, 2022. Currently the peso is at a little over 57 to the greenback, meaning our currency devalued by about 10 percent over the last five years. More significantly, the peso devalued 23.79 percent from 47.66 to 59.02 in only a span of 16 months!

For the Filipino families of the 2.33 million overseas workers from the Philippines and our exporters, a weak peso is good news since they will now get more pesos for the dollars they earn. For the rest of us locals, a weak peso is not good news since it will now cost us more pesos to pay for imported goods, which is most of the items we consume since we are a net importer.

If you have some money to set aside or invest, how do you deal with this situation? I am not talking about high net-worth individuals who have private banking accounts overseas, they can fend for themselves. I would like to focus on the middle class who has to work hard for their money.

The first item to consider is to take a position in the dollar; as they say, “if you can’t beat them, join them.” Knowing that the peso could be eroded by devaluation, think about keeping some of your money in another currency, the most popular of which is the US dollar. Many people grew up when the purchase of foreign currencies and keeping of dollar accounts was restricted and highly regulated. Under certain documented transactions, Filipinos are now allowed to purchase foreign currencies, including the US tender. Please check with your bank for the documents required.

Once you have the dollars, you can put them to work by placing them in a dollar time deposit, which currently gives a net yield within 1 percent of the equivalent peso time-deposit rate. Depending on how much dollars you have and which bank you use, other alternative investment instruments—such as US Treasuries, corporate notes as well as ROP bonds—provides a higher rate of return. Since the US dollar is less

s. Chua

Finex Free enterprise

volatile than the Philippine peso, you improve your chances of achieving a better rate of return.

To further improve your returns, knowing when to buy the dollars using your pesos is also useful. While no one has a crystal ball to see the future, there are certain historical trends that we can make use of through the law of supply and demand. Typically, the peso will appreciate in value when there is a demand for it and conversely, the dollar will weaken versus the peso when more people are selling the dollars to buy pesos. Data from the BSP showed that in 2023, remittances from OFWs amounted to $37.2 billion.

So when do most of this money comes in? As expected, there will be spikes in remittances during the start of classes when tuition has to be paid and, of course, during Christmas time—for gift giving, celebrations and as it is also a popular time for the OFWs to come home. If you could time your US dollar purchase towards June/July or November/December, chances are you will be getting a more favorable rate.

It is worthwhile considering portfolio diversification, to help maintain your asset valuation. You will need all the help you can get to prepare for your retirement.

The views and comments of George S. Chua are his own and not of the newspaper or the Financial Executives Institute of the Philippines (Finex). The author was the president of Finex in 2016 and the president of the Federation of Philippine Industries from 2010 to 2020. Dr. Chua is an active entrepreneur in fintech, broadcast, media, telecommunications, properties and a regular member of the National Press Club. He is also a Professorial Lecturer 2 at the University of the Philippines’s Diliman and BGC campuses and a Trustee of the Finex Foundation. Comments may be sent to georgechuaph@ yahoo.com or gschua@up.edu.ph.

This online payment option is part of several initiatives led by the CDC’s Business Development and Business Enhancement Group and Information Technology Division, according to the CDC. The Business One-Stop Shop (Boss) launched in November 2023 is the first of its kind outside the local government unit’s eBOSS compliance and centralizes transactions to streamline processes, the CDC added.

LOCAL digital banks received $700 million worth of investments from investors as the financial institutions continued to grow the number of their depositors, according to the Digital Bank Association of the Philippines (DiBA PH).

According to DiBA PH, the digital banking sector now has 5.9 million depositors as of the end of last year. Total deposits reached P69 billion at the end of 2023, nearly double the P35 billion it recorded in 2022.

The DiBA PH also said through a statement last April 6 that the total gross loan portfolio of digital banks more than doubled to P25 billion in 2023 from P11 billion in 2022.

According to the organization, these milestones position digital banks as leaders in delivering meaningful, tech-empowered, and personalized financial services, particularly to communities historically underserved by conventional banking entities.

“The significant and continued investment in the digital banking industry sector is a strong vote of confidence in its ability to stimulate economic growth, create jobs, and broaden access to savings and credit,” DiBA PH President Angelo S. Madrid was quoted in a statement as saying.

Madrid, also president of Maya Bank Inc., added that as digital banks navigate the path to profitability while accelerating financial

Since its launch, the Boss has processed 14,562 transactions as of March 2024, the CDC statement read. “These efforts align with the CDC’s commitment to automating frontline services and transactions, enhancing the ease of doing business in the Freeport,” it added.

Online payment option for Clark locators offered Group: $700M+ invested in digital banking sector

inclusion, strategic investments and capital play a crucial role.

Based on the experience of the global digital banking industry, it takes five to seven years for these financial institutions to break even.

“We see this as more than a financial endorsement from the global and local investment communities; it’s a recognition of the sector’s potential to drive economic inclusivity and innovation, setting a new standard for the future of banking in the Philippines,” DiBA PH Trustee Henry Rhoel R. Aguda was quoted in the statement as saying.

According to the DiBA PH, digital banks have been able to address key gaps in the national financial infrastructure and overcome challenges such as the slow rollout of the national ID system and limited coverage of the national credit bureau.

Despite these obstacles, the digital-first innovative approach of these banks have significantly increased access to deposit accounts and credit.

In 2021, the Bangko Sentral ng Pilipinas created a new digital banking category to bolster financial services in the country and capped the entrants to six banks. In an unprecedented timeframe for the banking industry, the digital banks established their operations and were all “live” by 2023.

Cai U. Ordinario

According to the BIR, the arrested fixers even forged the signatures of the BIR Commissioner, the Deputy Commissioner for Operations Group, the Deputy Commissioner of the Legal Group, the Assistant Commissioner of the Large Taxpayer Service and a Revenue District Officer.

Furthermore, the fixers used acknowledgment receipts with the forged signatures of the BIR officials for “processing of documents,” “extension of compliance with Computerized Accounting System,” and “processing and fixation of transfer” from one Revenue District Office to another.

The BIR stressed that the Bureau regulates all these transactions

On February 14, a BIR employee, under the guise of an official BIR Tax Compliance Verification Drive, was caught and arrested for extorting money from a bicycle shop.

In May last year, a criminal case was filed against a BIR employee who was caught tampering with sales machines to help a taxpayer avoid paying the right taxes.

Lumagui said in Filipino that criminals like these have no place in the BIR.

“Ang BIR ay handang makipagtulungan sa ibang ahensiya ng gobyerno upang hulihin, kasuhan at ikulong ang mga ganitong tao,” he was quoted in the statement as saying. [The BIR is ready to cooperate with other government agencies to catch, file a case against and put in jail these kinds of people].

Reine Juvierre Alberto

GSIS urges pensioners to use online services amid heatwave Organizations to scan needs, opportunities

THE Government Service Insurance System (GSIS) is taking proactive steps to protect its pensioners from the dangers of extreme heat following the weather agency’s warning of unprecedented temperatures reaching up to 46 degrees Celsius in 24 areas across the country.

Old-Age and Survivorship pensioners are strongly encouraged to complete their renewal of active sta-

tus or the Annual Pensioners Information Revalidation (APIR) through the GSIS’s digital platforms.

“Our pensioners are among the most vulnerable during these extreme weather conditions. By enhancing access to our online services, we ensure they can fulfill their requirements without compromising their health,” GSIS President and General Manager Jose Arnulfo A. Veloso was quoted

DAVAO City—The Peace and Equity Foundation (PEF) announced that its officers and those from the UP Strategic Research and Management Foundation (UPStream) signed a memorandum of agreement on April 4 at the UP Mindanao Gaisano Conference Room to undertake an action research study on Islamic financing in the Bangsamoro Autonomous Region in Muslim Mindanao (Barmm). The study, to be conducted by the UP Center for Integrative and Development Studies (UP CIDS) under its “Escaping the Middle-Income Trap Chains-forChange (EMIT C4C)” program, will identify the needs, barriers and opportunities related to Islamic financing, starting with the projects of the PEF in the region, a statement by the organization read.

Islamic finance or Shari’ahcompliant financing refers to instruments and services that abide by Islamic law. Its development will help promote financial inclusion and create solutions for Muslims residing in the

Bangsamoro region.

“[The] PEF would like to look at the current landscape of Islamic financing and what can be our role in helping the poor through this instrument,” PEF Executive Director Roberto R. Calingo was quoted in the statement as saying.

In the past, the PEF has supported social enterprises involved in Islamic financing and partnering with other advocates such as the Center for Agriculture and Rural DevelopmentMutually Reinforcing Institutions (CARD-MRI) and the Ramon Magsaysay Awards Foundation, according to the organization.

Calingo signed the MOA with UPStream President Dr. Sylvia B. Concepcion and UP EMIT C4C Senior Research Analyst Jane Lynn D. Capacio. Under the agreement, the PEF and the EMIT C4C team will gather data, conduct discussions and deliberations and write the report. UPSTREAM, meanwhile, will monitor the implementation of the action research project, according to the PEF.

in a statement the pension fund issued last Monday. Pensioners have the option to use the GSIS’s mobile application, which features advanced facial recognition technology for secure status verification. This userfriendly app allows pensioners to comply with revalidation requirements without leaving the safety of their homes. They can download the GSIS’s mobile app from major app stores and follow simple steps to complete their status renewal. The app also offers other services that enhance the user experience, providing a one-stop solution for many of their needs. Alternatively, pensioners seeking a more personalized service can opt for an online interview, which can be scheduled through designated GSIS e-mail addresses.

George

FOR the second year running, the National Book Development Board Philippines (NBDB) is bringing together publishers, authors, artists, educators and readers at Philippine Book Festival (PBF), the country’s biggest traveling book festival. taking place at the World trade Center in Pasay from April 25 to 28, the PBF is a four-day celebration showcasing the richness of Philippine literature, culture and arts. this unique book fair integrates education, entertainment, tourism and shopping into a single family-friendly event. in addition to the extensive collection of published works and titles from the Philippines, this year’s festival offers a diverse range of talks and workshops. Highlights include A Day with Gwy Saludes, featuring an exclusive book-signing and meetand-greet session with the author. Historian and bestselling author Ambeth Ocampo will lead Ambeth Without the Overcoat, a book-signing session. National Artist for Film and Broadcast Arts Ricky Lee will present Trip to Quiapo, while Dahling Nick: A Tribute to National Artist Nick Joaquin will honor the renowned writer. Other sessions include Aklat Para Sa Accla: New Trends in Boys Love and Girls Love, Comics Can Change the World with Patti Ramos, and Zine-making 101, a workshop on crafting independently-produced fanzines led by Komiket’s Bunny Luz.

Attendees can anticipate the comeback of the Rare Book Collection by the National Library of the Philippines, which will feature a new selection of rare manuscripts and facsimiles; the Book Bar, a library of sorts filled with award-winning books; Cosplay Filipiniana, a cosplay competition allowing fans to portray their beloved Philippine literary characters; and Guhit Pambata, an exhibit highlighting the creations of some of our best children’s book illustrators. this year, the PBF will launch the tabuan Food Hall, wherein guests can feast in between pages. the festival brings back its four popular realms: Kid Lit, a land just for children; Komiks, which puts the spotlight on Pinoy komiks; Booktopia, home to an abundance of fiction and non-fiction titles; and Aral Aklat, which is devoted to textbooks and educational materials. there will be a Creators Lab, Main Stage, and Kids-at-Play that highlight exciting talks, activities, and workshops more specific to the interests of readers and fans of those genres. Panels, puppet shows, storytelling with surprise television and movie celebrities, and live performances are also scheduled throughout the fourday festival. this year, we have more authors and we bring together the best of Philippine content for the entire family. the country needs more reading spaces that encourage conversation, creation and collaboration. Ang Philippine Book Festival ang nagsisilbing panghikayat ng NBDB sa iba pang mga organisasyon na lumahok at makiisa sa mga programang nagtutulak sa mga Filipino na magbasa dahil ang aklat ay para sa lahat,” said NBDB executive director Charisse Aquino-tugade. the event is longer this year to give ample time for teachers, librarians, and organizations to research the books they need for their schools. Similar to last year, NBDB is working closely with the Department of education (Deped) to train more than 750 book evaluators and procurement officers to scope and evaluate books to purchase for public school libraries and library hubs. evaluators from all over the country will fly in to source educational books for the students of their regions. the fair is open to the public from 8 am to 8 pm on April 25 to 28, with no entrance fees.

More information on the Philippine Book Festival and registratuib can be found at www.philippinebookfest. com.

Keep it positive

AS a people manager, creating a positive work environment is not only beneficial for your individual well-being but also crucial for promoting productivity, collaboration and overall job satisfaction among your team members. A workplace infused with positivity can inspire creativity, innovation, and a sense of purpose. When your team feels good about themselves and with each other, you create an environment where they can exponentially grow and maximize their potential.

Just like anything else in your team, positivity starts with you. Leaders and managers should exemplify positive behaviors, such as offering encouragement, showing appreciation, and maintaining a solutions-oriented mindset. this involves taking the time to understand each of your team members and learning about their motivations and challenges. if you selectively focus on building relationships with only a few team members and consistently spend more time with them than others, you risk playing favorites and effectively exclude other team members. When leadership sets the tone, it encourages others to follow suit.

Part of this is encouraging transparent and respectful communication across all levels of the organization—whether it be how you communicate with your boss, your team, or other departments. Create an environment where employees feel heard, valued, and safe to express their ideas and concerns without fear of judgment so that you can address

issues and challenges before they escalate into a crisis. With open communication, identifying problems becomes easier, giving you the opportunity to proactively seek measures to mitigate any negative effects.

Acknowledge and celebrate individual and team achievements regularly. By publicly recognizing employees for their contributions and efforts, you demonstrate which behaviors and outcomes are expected from everyone in the team. this fosters a sense of accomplishment and motivates others to strive for excellence because they understand what it takes to be recognized. But you should also offer constructive feedback and support to help employees improve and grow professionally. Regular check-ins demonstrate investment in their success and wellbeing.

to create a sense of belonging, promote a collaborative culture where team members support each other and work toward common goals. Encourage your team to work with different team members so that they can identify what they can improve to work well with others. your team should understand the significance of collective success, recognizing that every outcome reflects the team’s combined efforts and collaboration. When everyone understands that the team’s output, whether from an individual contributor or as a group, reflects the team’s overall performance, they are more likely to prioritize quality in their work. Build trust and mutual respect among team members by promoting honesty, integrity, and fairness in all interactions.

A positive work environment entails that your team is equipped with the necessary skills and capabilities to meet challenges effectively. Support professional development and provide growth opportunities for your team by looking for training programs that will help them develop their full potential. investing in their skills and career advancement demonstrates commitment to their development and fosters a positive outlook towards their future.

encourage a healthy work-life balance by

respecting personal time and boundaries. Refrain from sending work-related instant messages after work hours. if necessary, choose to send an email to allow recipients to respond at their convenience. Sending work-related messages outside of work hours suggests a lack of planning as a leader, and highlights the need to organize and plan your team’s workload effectively. Another method to encourage work-life balance is by providing flexible work arrangements and emphasizing the significance of self-care among team members.

Another way to promote positivity is to embrace challenges. Promote a growth mindset where challenges are viewed as opportunities for learning and development. encourage your team to approach obstacles with optimism and resilience by being open to changes. embrace new ideas and approaches that enhance positivity and innovation within your team. you also need to understand that your team is composed of people, not machines. As such, they have personal issues and challenges that could affect the way they do their work.

Support employee wellness initiatives such as fitness challenges, peer support groups, mindfulness workshops, or health-focused seminars if your organization has these kinds of programs. it goes without saying that healthy employees are happier and more productive. take this further by planning regular team-building activities and social events that promote camaraderie and strengthen relationships among your team members. these activities can improve communication, boost morale, and foster a sense of community.

Promoting positivity in the workplace requires a holistic approach that involves leadership commitment, open communication, and a supportive culture. By using these tips, you can create a work environment where positivity thrives, and your team exerts the discretionary effort to perform their best. Remember, small gestures can have a significant impact if done consistently. Begin today and watch positivity transform your team into the best possible members they could become. n

5 ways to establish mental wellness in the workplace

NiNety thousand hours. One-third of your life. that, according to industrialorganization psychologist and data scientist Andrew Naber, is the amount of time the average person will spend at work over a lifetime. With so much of our waking hours devoted to our job, isn’t it only fair to expect our workplace to be a safe, comfortable and toxic-free environment, one that supports employees’ mental health and wellbeing?

yes, says Jon edward B. Jurilla, MD, chief of the Section of Psychiatry of the top hospital in the Philippines Makati Medical Center (MakatiMed, www.makatimed.net.ph). “Companies that prioritize the mental health of their workers can expect inspired productivity, sound decision-making, and harmonious interactions among colleagues. When employees feel at ease in the workplace, they perform better, are motivated to get up in the morning, and are less likely to be depressed or suffer from burnout. It’s a win-win situation for all.”

in the Philippines, employers in the private sector are mandated to implement mental health workplace policies and programs through the comprehensive and ever-evolving guidelines by the Department of Labor

and mployment (DOL ). What else can companies do to champion mental health and wellness at work? Little things make a huge difference, and MakatiMed suggests implementing these five small but significant changes:

n Make counseling accessible. “Oftentimes, people want to express what’s troubling them but are wary about confiding in a colleague or don’t have the funds to see a specialist,” shares Jurilla. “Get a life coach or organizational psychologist on board so staffers know there’s a professional

who can help them deal with their mental health concerns objectively and free from judgment.”

n Promote flexible work schedules. if possible, let them continue a work-from-home setup with an option to work at the office.

“Such arrangements have been known to lower stress and make employees more productive,” suggests Jurilla. you take away the tiring commute, giving them the freedom to work wherever best suits them. this allows for work-life balance. injecting ‘me’ time in between banging out reports or

meeting a client on Zoom can refresh the mind and spirit.”

n Create quiet spaces. “Convert an extra room in the office into a meditation or quiet corner. Hire a yoga or tai-chi instructor to hold one-hour classes for the staff [a video session works, too!]. the silence and slow, gentle movements will surely calm frayed nerves and clear an anxious mind,” Jurilla points out.

n Stay away after office hours. if you get the urge to text, call, or email an employee after she or he has gone home for the day, the weekend, or on leave—stop yourself, stresses Jurilla. “these people already gave most of their hours and efforts to their jobs. Respect their personal time and let them enjoy their time away from work.”

n Be oPen. How do you know if your employees are truly happy with their jobs? Ask them. “Perhaps someone is saddled with too much work, or another feels underutilized,” says urilla. “By consulting your team, addressing their concerns, and involving them in the decisionmaking process, you’ll make them feel relevant. Heard. Like they matter.

NBDB executive director Charisse Aquino-Tugade

MAYA NAMED AMONG WORLD’S BEST BANKS FOR 2 STRAIGHT YEARS

FOR the second consecutive year, Maya, the #1 Digital Bank in the Philippines, clinched a spot among the World’s Best Banks, a nod from Forbes Magazine for Maya’s commitment to serving and delighting Filipinos, from the unbanked to the unhappily banked.

Forbes, together with market research firm Statista, surveyed customers on their banking satisfaction and willingness to recommend their bank, propelling Maya to stand out as the 3rd best bank among the nine local financial institutions to hit this year’s global top ranks.

“Our innovation is fueled by our desire to delight our customers,” said Shailesh Baidwan, Maya Group President and Maya Bank CoFounder. “This global recognition shows we’re on the right track, and it’s a testament to the hard work of Team Maya.”

In the Philippines, banking challenges persist: 44 percent of adults remain unbanked, as per the 2021 Financial Inclusion Survey by Bangko Sentral ng Pilipinas. Despite 18 million having bank accounts, a mere 1.4 million have taken bank loans and only 9 million save with banks, the same BSP survey says. Dissatisfaction among banked Filipinos with their banking apps is also common, reflected in underwhelming app ratings.

Banking with Maya simplifies everything: with

just one valid ID, customers can save, borrow, spend, invest, and earn rewards, all within a single digital banking app. There are no minimum savings or no balance requirements.

While traditional banking might offer paltry interest rates on savings, Maya offers up to 14% per annum (p.a.) with its innovative high engagement banking product.

Maya Savings includes personal budgeting and financial management tools like Personal Goals, providing up to 4 percent interest p.a. without lockins, and Time Deposit Plus, allowing investments that can yield up to 6 percent interest p.a.

In traditional banking, borrowers need to show proof of income and a long list of documents and IDs. Maya makes the process much easier. Eligible customers can access up to P250,000 in loans, based on AI-driven credit scoring that considers alternative data such as payments history and app usage.

Beyond the Surface: Crystal Blue Enterprises’ Chlorine-Free Revolution

ISCOVER a new standard of luxury and well-

Dbeing with Crystal Blue Enterprises, where swimming pool innovation meets a passion for excellence and sustainability. Led by Richard Cariño, a visionary in the industry with over two decades of dedication, the company is rewriting the rules of pool sanitation.

The signature Healing Pool System stands as a testament to their commitment to providing unparalleled experiences. Unlike other companies’ claims of chlorine-free solutions that often fall short upon closer inspection, their system delivers on its promise without compromise. While some tout magnesium pool systems as chlorine-free, their manuals reveal a different story, mandating chlorine usage.

In contrast, the company’s Healing Pool System relies solely on therapeutic minerals sourced from premier locales, ensuring a rejuvenating swim

every time. Picture yourself immersed in sulfurinfused waters, where the elevated levels of this mineral provide respiratory clarity and possess anti-fungal and antibacterial properties, soothing and healing the skin. Soakers enjoy reduced stress levels and natural detoxification, allowing you to emerge rejuvenated, body and soul.

Magnesium soothes sore muscles, potassium supports heart health, and sodium provides joint relief, a holistic experience designed to nourish body and soul. What truly sets us apart is our dedication to authenticity. The company’s chlorine-free promise isn’t just a claim; it’s a guarantee backed by pHbalanced waters and industry-leading Oxidation Reduction Potential (ORP), prioritizing your safety and comfort without compromise.

Behind the scenes, Cariño’s relentless pursuit of perfection led to the development of their patented Healing Pool System. Drawing inspiration from

Capturing Memories: Why Professional Family Portraits Matter for Filipinos

IN today’s digital age, where snapping photos with smartphones has become the norm, there remains a timeless allure to capturing the essence of family love and connection in a professional studio setting. While smartphone snapshots are perfect for everyday moments, there’s something special about preparing for a portrait shoot with your family. It’s an opportunity to step into an environment where every detail is carefully crafted to immortalize the bonds you share.

For Filipinos, family is at the core of their culture, and preserving memories through professionally captured portraits holds significant importance. Great Image, a renowned name in the photography industry, delves into why it’s still crucial for Filipinos to have their family portraits professionally taken and the enduring benefits it brings.

A way to honor family traditions

FAMILY reunions and celebrations are treasured customs in Filipino culture that have deep historical roots. From birthdays to reunions, these events provide opportunity for families to get together and deepen relationships. Professional family photographs taken during these gatherings honor these traditions by capturing the essence of familial love and unity for future generations.

Celebrating milestones and achievements

FILIPINOS love celebrations and they take pride in commemorating milestones and achievements, whether it’s a graduation, a wedding, or a new addition to the family. Professional family

portraits serve as visual commemorations of these significant moments, marking milestones in the family’s journey. These portraits not only capture the joy and pride of the moment but also serve as reminders of the family’s resilience and triumphs.

Documenting family legacies

IT is important for Filipinos to pass down traditions from one generation to the next. These family portraits serve not only as a way to capture memories, but it also serves as a tangible record of family legacies and histories. Professional family portraits become treasured heirlooms, preserving memories of ancestors, and loved ones for future generations to cherish and reflect upon.

A testament of embracing Filipino values

PROFESSIONAL family portraits serve as visual representations of Filipino cultural values, including close-knit family ties, respect for elders, and love for one’s heritage. These portraits capture the warmth and unity shared among family members, honoring the wisdom of elders and celebrating Filipino identity and heritage. Through these images, families feel a sense of pride, belonging, and unity, reinforcing the cultural values that define Filipino society.

Capturing timeless memories

WHILE smartphone photos may capture fleeting moments, professional family portraits have a timeless quality that transcends trends and fads. Photographers skilled in their craft can capture the essence of each family member, freezing moments of joy, love, and connection

Maya also democratizes investing. Where traditional banking often sets minimums between P1,000 and P5,000, Maya enables users to start investing in mutual funds and stocks for as little as P50 through its partners.

Finally, customers can receive the globally accepted Maya Card for free. It’s personalized with their @username and accepted at over 130 million merchants and ATMs worldwide.

Maya’s all-in-one banking experience has led to unprecedented growth in customer engagement, with bank customers transacting up to 4x more than e-wallet-only users. The Maya app is also the #1 top-rated consumer finance app on Apple Store and Google Play Store, outperforming other e-wallets and banks.

With its growing network of highly engaged customers, Maya has doubled its depositor base to three million, achieved a 69 percent increase in deposit balance to P25 billion, and booked a sevenfold growth in loan disbursements to P22 billion in 2023.

Maya is the #1 Fintech Ecosystem in the Philippines, with Maya, the #1 Digital Bank, and Maya Business, the #1 Omni-Channel Payment Processor. To learn more about Maya, visit maya.ph and mayabank.ph. Follow Maya at @mayaiseverything on Facebook, Instagram, YouTube, and TikTok.

NASA’s technology, Cariño utilized state-of-the-art automation techniques, enhancing our system’s efficiency and effectiveness. Every component of our Healing Pool System is meticulously crafted by hand, showcasing Cariño’s dedication to quality and innovation.

Forging ahead, the company incorporated additional minerals and active oxygen, culminating in the pinnacle of chlorine-free swimming—the Healing Pool System. It’s not just a pool; it’s a patented technology that revolutionizes the swimming experience, offering unparalleled purity and well-being.

With a presence in the Philippines, Japan, and China, Crystal Blue committed to providing a seamless experience for our clients. Our 30-year warranty ensures your investment is protected for the long haul. Plus, as proud recipients of the “Best Earthquake-proof Swimming Pool Contractor” award by World Class Philippines, safety and excellence are at the core of everything the company does.

Experience the Crystal Blue difference today. Visit https://crystalblue.com.ph and dive into a world of extraordinary pool experiences.

in beautifully composed images. These portraits become cherished mementos, evoking emotions and memories that endure through the years.

“Professional family portraits serve as more than just images; they are reflections of cherished traditions, celebrations of milestones, and legacies of love and resilience. By investing in professional family portraits, we can preserve our family bonds and create lasting memories that will be treasured for generations to come,” said Evelyn Palomo, Chief Executive Officer at Great Image.

Fortunately, Great Image is here to assist Filipinos in immortalizing their family memories, capturing the essence of cherished traditions and values. Established in 1983, Great Image has been providing excellent, professional, and reliably fast and creative photography services for 40 years.

Equipped with the latest photo equipment in the photography imaging industry, along with skilled photographers who are at the top of their field and proficient in the latest industry standards, Great Image ensures that every shot reflects the love, joy, and connection shared among family members. Whether it’s multigenerational portraits or milestone celebrations, Great Image guarantees timeless images captured with love.

But that’s not all! Great Image presents some of the greatest deals in town. Avail of the Collection of Love promo and receive five 5R frames for free with every purchase of five pieces of prints and soft copies. And don’t miss out on the all-new Great Image Gratitude Card. Sign up for only PhP999 and unlock exclusive perks and freebies with every session. To even get the best out of your shoot, use this code GI3RPR to get a FREE 3R Print Copy in all Great Image branches nationwide.

To explore more about Great Image and their photography services, visit their website at www. greatimage.com.ph or connect with them on their Facebook and Instagram pages.

Emirates wins ‘Best Inflight Entertainment Award’ globally at the 2024 Airline

EMIRATES was recently crowned the global winner of the “Best Inflight Entertainment Award” in Airline Ratings 2024 Airline Excellence Awards, announced online.

Emirates scooped the top award for inflight entertainment from an extensive finalist list of global airlines, due to its whopping 6,500 channels of high quality and acclaimed content, the world’s largest entertainment library in the sky - making it a clear winner for the Best Inflight Entertainment award.

Customers enjoying Emirates flights can access a world-class entertainment library of 6,500 channels which includes, among others:

n More than 2,000 Hollywood and internationally acclaimed movies including 2024 Academy Award® winning films;

n Hundreds of complete TV series and full box sets including the latest shows from leading streaming platforms and media brands such as HBO Max, Discovery+, BBC, Bloomberg Originals and Shahid;

n Over 200 documentary movies and popular TV docu-series;

n More than 15 Tagalog movies and around 24 albums/playlists;

n Global cinema in over 50 languages with more than 600 international movies from across Europe, Africa, Asia, and Latin America;

n Over 300 movies with ‘Closed Captions’ and 140 movies with ‘Audio Description’, offering accessibility to the visually impaired;

n Emirates headphones are provided to customers in all cabin classes, including premium Bowers & Wilkins E1 headphones in First Class, created by the renowned British sound experts exclusively for Emirates, using noise cancelling technology to block out ambient cabin sounds and deliver the cleanest output;

n Specially designed Emirates headphones for kids’ comfort;

n A music library of over 3,500 albums and curated playlists;

n 5 channels of live TV, including 3 news channels and two channels with live sports coverage;

n Over 250 dedicated kids and family channels including dozens of shows for pre-school kids;

For Filipino flyers, Emirates’ ice offers countless hours’ worth of on-demand content that they can enjoy and even create playlists with ahead of their flight, including popular movies like Sid & Aya: Not a Love Story (2018) starring Anne Curtis and Dingdong Dantes, Unforgettable (2019) starring Sarah Geronimo, and Deleter (2022) starring

Excellence Awards

Nadine Lustre, as well as music from Filipino acts like Pagsibol by P-Pop boy group SB19, Episode by Filipino singer-songwriter Zack Tabudlo, and CLAPCLAPCLAP! by IV of Spades, just to name a few.

Emirates continually updates its inflight content every month, adding hundreds of movies, TV shows, podcasts, and music channels each month to its extensive entertainment library and securing exclusive partnerships with the best content providers. Customers can also curate their own ice experience before their flight, simply by browsing and pre-selecting movies or TV shows on the Emirates app, which can then be synchronized to ice the moment they board, maximizing the seamless travel experience.

Emirates inflight entertainment journey began almost 30 years ago, when it was one of the first airlines to introduce seat-back videos for economyclass passengers. Emirates is also committed to setting industry standards and accessibility for people of determination and was the first airline in the world to introduce Audio Descriptive soundtracks and Closed Captions on movies on an inflight entertainment system.

“Our editors were unanimous in their praise for Emirates ice system as a step above. That early investment in inflight entertainment has paid off for Emirates and just when you think it can’t do it better—it lifts the bar once again,” said Airlineratings.com Editor-in-Chief Geoffrey Thomas.

The AirineRatings.com Airline Excellence Awards are evaluated by an editorial team with many years of experience, based on a robust criteria including product and safety rating, passengers’ reviews on AirlineRatings.com and Trip Advisor, and overall profitability.

Emirates operates 25 weekly flights from Manila, Cebu, and Clark to Dubai, connecting Filipino travelers to over 140 destinations in 76 countries and territories across Africa, the Americas, Asia, Europe, the Middle East, and the Pacific from its global hub in Dubai. Book your flight today by visiting https://www.emirates. com/ph/english/book/.

Honda launches flagship BF350 Outboard Engine in PHL

HONDA Power Products recently announced the availability of The All-New BF350 Large-size Outboard engine equipped with a powerful V8 350-horsepower engine in the country. This flagship model represents the latest in Honda’s marine outboard technology, combining unparalleled power, fuel efficiency, and advanced features to elevate the boating experience for enthusiasts across the country.

The BF350 is the latest addition to Honda’s renowned BF Series, known for its exceptional performance and cost effectiveness. With a newly developed dedicated V8 engine boasting a displacement of 4,952 cm3 (302 in3), the BF350 delivers an impressive maximum output of 350 horsepower. This formidable power is complemented by high torque, ensuring outstanding propulsion capabilities on the water.

One of the standout features of the BF350 is its emphasis on smooth and comfortable boating. The cruise control function allows boaters to maintain a set speed or engine rpm, while the trim support function automatically adjusts the outboard engine to maintain a pre-set trim angle, enhancing ease of operation. It also features an automatic tilt function, which simplifies docking and storage, providing added convenience to users.

When it comes to efficiency and reliability, the BF350 excels with its advanced engineering. The adoption of VTEC technology, which has long been a popular feature of Honda automobiles and outboard motors, coupled with air-fuel ratio feedback control and optimized gear case shape, ensures top-level fuel economy in its class without compromising on performance. Moreover, enhanced maintenance features such as anode prevention, easier oil filter changes, and a largecapacity alternator contribute to a hassle-free

ownership experience.

The design of the BF350 embodies Honda’s commitment to functionality and aesthetic appeal. The “Noble Motion Form” design concept reflects luxury and high quality, making it a fitting flagship model in the marine outboard market. With chrome-plated parts and threedimensional logos, the BF350 exudes a sense of sophistication and style on the water.

With its unmatched power, efficiency, and innovative features, the BF350 sets a new standard for outboard motors, ensuring an exceptional boating experience for our customers.

The All-New BF350 large-size outboard engine is now available at authorized Honda Power Product marine dealership in the Philippines.

For more information, https:// hondapowerproducts.ph/. Stay updated on Honda’s newest products and by following Honda Power Products Philippines on Facebook (facebook.com/ hondapowerproductsph).

Fringe areas an impetus to growth

By Rizal Raoul S. Reyes @brownindio

To maintain its competitiveness, marketability and viability, it is quite important for developers to pursue redevelopment.

Property management consulting firm Colliers Philippines observed that traditional business districts are undergoing major facelift in response to the changing times.

“Redevelopment will be the catalyst of change in locations outside the traditional business districts. Already we are seeing old structures giving way for new developments appropriate for the requirements of today’s occupiers,” said the office services’ landlord representation of Colliers Philippines in the article posted on its company’s website. The Colliers unit identified Makati City and Mandaluyong

City as the most exciting fringe locations in Metro Manila. “Not only are these up-and-coming neighborhoods strategically located—being situated close to major transport hubs and leisure centers—they also offer newly built and exciting office developments well suited to today’s sustainability-focused mindset,” it said. One Ayala is one of the newest landmarks in Makati, which opened to the public in 2022. Ayala Land Inc transformed the former site of Hotel Intercontinental to a hub for leisure, travel, lifestyle, events, and connectivity. It also serves as a bus transport terminal and is seamlessly connected with

the Ayala Station of MRT Line 3.

The Bistro group realized the great potential of One Ayala when it recently opened the Secret Recipe. Originally from Malaysia, it is The Bistro Group’s first ever restaurant concept that offers AsianWestern cuisine and a wide array of baked Fine Quality Cakes.

Inspired by the original Malaysian stores but with a daintyi-sh feel, the interiors are modern contemporary accentuated by a striking series of pinkish red petals mounted on the ceiling, drawing one’s eye towards this eye-catching feature.

The overall flair is cozy, bright and warm. It is undeniably instagrammable, guests wouldn’t want to miss the chance to post their photos on social media.

Mandaluyong is an epitome of growth

M AN dAL uyONG , also popularly known as “New Tiger” of Metro Manila, is an epitome of urban growth and cultural dynamism. The location is ideal for businesses,

SBy Roderick L. Abad

ANTA

Rosa,

Laguna—Afni, a leading American business process outsourcing (BPO) company, has expanded its footprint in the Philippines, with the opening of its newest site here—a welcome development for the city’s constant growth and development.

“The Philippines continues to be a prime location for companies seeking skilled and dedicated professionals,” Afni President and Chief Executive Officer Ron Greene said. “Afni’s expansion into Santa Rosa demonstrates our commitment to supporting our clients and boosting the country’s economy by establishing our presence in major hubs outside of Metro Manila.”

According to Afni Philippines

Vice President of Operations Alain Katigbac, they chose the capital city of Laguna, which represents a significant portion of their company’s expansion, on the back of its ample talent pool, accessibility, topnotch amenities and infrastructure, as well as vibrant communities.

“This new site isn’t just about growth. It’s about investing in our people that allows us to nurture an environment where they can excel and reach their full potential. Their success is our success, ultimately translating into the best possible service, reaching our clients and our internal customers as well,” he said during the recent launch of AfniSanta Rosa Office. Currently, this is the Illinoisbased

employers and developers. Ortigas Center is one of the major business districts in Mandaluyong that has attracted major local and foreign brands.

After the successful launch of six brands in Estancia, Capital Commons in 2023, the Bistro Group introduced Tomatito as the seventh brand to bring more diverse brands in the Estancia Mall. The 93-seater restaurant is the ideal place for anyone looking for a fun night and remarkable food and drinks.

Tomatito’s atmosphere is relaxing whether you’d want to dine in during lunchtime, spend a convivial evening or a date night.

The quirky interiors are inspired by Spanish Flamenco guitarist, Jose Fernandez Torres and the Spanish bars from the 80’s with a modern twist.

The preferred choice

B ONIFACIO Global City (BGC), formerly the headquarters of the Philippine Army, is regarded as one of the most preferred lifestyle and

financial districts in the country. Bonifacio Global City (BGC) in Taguig has definitely come a long way from being a military base decades ago.

Singaporean brand and seven-time Michelin-star awardee, P u TIEN, recently opened a new branch at the Bonifacio Global City (BGC), further showcasing authentic Fujian cuisine made with only the finest ingredients sourced from all over Southeast Asia. Located at the 2nd level of Mitsukoshi Mall, the 110-seater restaurant welcomes discriminating diners into its new home with light, clean to the taste, and heartwarming dishes that are a cut above the rest.

Sky Kok, operations manager of Putien Mitsukoshi, BGC told the BusinessMirror in a one-on-one interview they chose to locate in the mall because they want to create a nice place with a great ambiance for the shoppers when they decide to dine in the restaurant.

“The mall is also located in a very suitable location which we

like very much,” said in an interview on the sidelines of the launch of Putien.

“We also love the support given by Federal Land by giving us a lot of time in designing and developing the place,” Kok added.

Kok said Putien Mitsukoshi BGC sports an understated elegant and sleek interior, with shades of earthy brown wall panels, complemented by champagne-hued tables and bright blue seats for that splash of color. Its vibe is contemporary and modern while retaining its Chinese heritage because the dishes are authentic to Fujian, China.

He said the staff is well-trained to serve its guests to every inquiry about the food in the restaurant. “They can recommend to the guests what is the best for them,” said Kok. Kok said Putien is excited to serve the local market because Filipinos want to try the latest food in the market.

Right now, Putien has 104 branches across Asia.

DAVAO CIT y’S LuxuRy TOwnhOuSe TO hOLD TwO ART eVenTS

Being the fifth BPO locator now in Santa Rosa, Mayor Arlene B. Arcillas underscored that Afni marks “a very special milestone” for the city known as the information and communications technology hub in the country. “We’re also positioning ourselves to be a ‘Smart City of the South’, and with Afni here, surely that will strengthen those titles. So rest assured that the city government of Santa Rosa will always be supportive

of all the programs of Afni,” she said.

‘Better begins here’

LO CATE d at SM City Santa Rosa, Afni’s newest office spans over 9,400 square feet across multiple floors complete with workstations and conference rooms. For better employee experience, an arcade or game room, and comfortable sleeping quarters will be available when construction is complete to promote fun, engaging and caring work environment.

“At Afni, we believe in fostering a supportive work environment where individuals can unlock their full potential, aligned with our ‘Better Begins Here’ philosophy. By opening

our new site in Santa Rosa, we are not only creating new job opportunities but also empowering local talents in and around Laguna to thrive closer to where they live,” Afni Philippines Senior Vice President and Country Manager Khalid Khursheed noted.

In an interview during the recent launch of the Santa Rosa office, he told reporters that they are targeting to hire at least 3,000 employees here, mostly locals, by year end, bringing their total headcount across all sites to over 11,000.

“We are going to add another 500 to 1,000 seats next year which is going to be, hopefully, in the next building where we are now,” Khursheed shared.

With recruitment now ongoing for the new office, Afni is currently hiring 100 to 150 per week to fill all the seats upon the start of its operations in the latter part of this month.

Per Afni Philippines Vice President of Recruitment Anna Pinaroc, they are now hiring people with at least six months to one year call center experience. Qualified applicants will fill in the outsourcing positions across verticals, such as insurance, financial services, telecommunications, healthcare, fitness, and media.

“Our growth is strategic and intentional. Santa Rosa’s rich talent pool, strong infrastructure, and strategic location align perfectly with our vision for further growth.

So I’m confident that this new site would propel us to even greater heights as we have since first entered into the Philippine market in 2012,” she stressed.

By Manuel T. Cayon

dAVAO CIT y—A luxury residences and townhouse project here will mount two art events after its grand launch in June to help enhance appreciation of the design sophistication it wanted to achieve in the project. The Likha Residences davao, a prestigious luxury townhouse project of the Phinma subsidiary, will roll out the two art events, “Art you can wear,” an exquisite collection of jewelry masterpieces and “Art you can taste” to feature top chefs and tantalize palates with culinary delights and artisanal libations. “Each would be offering a unique perspective on the intersection of art and lifestyle,” said Alice dela-Peña Villanueva, head of Sales and Marketing of Likha Residences d avao.

She said the grand launching of the two events would be under the theme “Art in Various Forms, to highlight the fusion of artistic elegance and modern living.”

The two events would like to magnify the design crafted in the townhouses in the “Art you can live in,” the main theme of the limited-edition designer townhomes when the LIkha Residences project would be opened in June 1 to buyers. Villanueva said the town -

houses were crafted by the renowned architectural firm Mañosa & Co.

“We are thrilled to announce the grand launch of Likha Residences d avao, a testament to the seamless integration of artistry and luxury living,” she said.

“Through our series of events, we aim to showcase the exquisite craftsmanship of our designer townhomes while offering guests an immersive experience in the vibrant art and culinary scene of d avao,” she said.

She said the grand launching events are open to invited guests, real estate brokers and sellers, and media “representatives who share a passion for art, design, and culinary excellence”.

The Phinma group said its Likha Residences d avao “is an exclusive community of 94 modern townhomes crafted by Phinma Properties, a subsidiary of Phinma Corp.” The Phinma Corp. said the Likha Residences d avao “marks a return to the company’s legacy in luxury development, drawing inspiration from its first projects such as Manila Polo Club Townhouse, Mariposa Square, and Mariposa Villas, but this time incorporating the innovation and creative vision that has guided its other developments over decades”.

The cozy interiors of Putien Mitsukoshi BGC TOMATITO estancia Mall’s sexy and colorful interiors

SeCR e T Recipes is one of the newest tenants of One Ayala.

Chinese generosity to WADA: A concern

Nadal hints at September

swansong

BERLIN—Rafael Nadal said Monday he will play at the Laver Cup in Berlin in September in what may be one of the 22-time Grand Slam champion’s last tournaments.

Nadal has signaled 2024 may be his last year on tour and said last week that his second-round loss to Alex de Minaur at the Barcelona Open, which he has won 12 times, was “probably my last match here.”

Taiwanese Chen, Thai Meesom-us go 1-2 in scorching 1st round in Luisita

CHINESE-TAIPEI’S Hsuan Chen came charging in the backside for a four-under 68 in scorching conditions and a onestroke lead over Thailand’s Queen Meesom-us in the first round of the $100,000 International Container Terminal Services Inc. (ICTSI) Luisita Ladies International 2024 in Tarlac on Tuesday. Hsuan spiked her impressive performance with a string of birdies on Nos. 11, 12, 14 and 17 of the Luisita Golf and Country Club course, positioning her at the top of the leaderboard.

Despite a missed par-putt from 12 feet on the 18th, she maintained her lead as Meesom-us failed to sustain a birdie-birdie feat from No. 6 in a frontside finish and shot a 69.

The Taiwanese acknowledged the challenges posed by the unpredictable greens but remained confident in her game.

Meesom-us, on the other hand, said the summer heat was the least of her concerns having experienced similar conditions back home.

“Although my driver and irons were fairly consistent, I struggled with my putting due to the challenging nature of the greens,” said Chen, reflecting on her ongoing quest for a breakthrough victory after five years on the tour. “Some were fast while others were slower, making it difficult to find a consistent rhythm.”

Her round was marred by a three-putt miscue on No. 4, nestled between two birdies, and a mishit approach shot on the 18th that resulted in another bogey.

“Understanding the nuances of the speed [of the greens] is crucial here,” she said, alluding to the critical factor that could determine one’s success or failure in the 54-hole championship co-sanctioned by the Taiwan Ladies Professional Golf Association and the Ladies Philippine Golf Tour. Meesom-us also flashed solid performances from tee-to-green, mirroring Chen and other early contenders, yet encountered challenges while navigating the tricky surfaces.

“I’m feeling pretty good about my game overall. My focus is to maintain this level of performance and translate it into strong results over the next two rounds,” said the 20-year-old talent from Chonburi.

N the two years before the World Anti-Doping Agency (WADA) signed off on clearing 23 Chinese swimmers of intentionally taking performance enhancers, that country’s government contributed nearly $2 million above its yearly requirements to WADA programs, including one designed to strengthen the agency’s investigations and intelligence unit.

The Associated Press obtained confidential minutes from meetings of the WADA executive committee that lists China as having given $993,000 in 2018 and $992,000 in 2019, two years that led to one of its Olympians being elected as one of the agency’s vice presidents. The Chinese contributions were part of a pattern that illustrates the country’s growing influence on the drug-fighting agency at about the same time WADA’s relationship with its biggest contributor, the United States, was fraying. There is no indication from the documents AP reviewed that China donated the money in expectation of a quid pro quo to gloss over positive drug tests. In fact, WADA didn’t hide the extra funding—it  put out a littlenoticed news release  in December 2020 announcing China’s $992,000 donation.

“All this was done in total transparency,” WADA director general Olivier Niggli said Monday during a news conference to discuss the case. “And frankly, the [question] has absolutely nothing to do with what we are discussing today. So, the optics is a question [I appreciate], but I have absolutely no problem with the relationship we have with China.”

The main part of WADA’s budget each year comes from a 50-50 split between governments of the world and the Olympic movement as China’s additional contributions came on top of $430,000 its government supplied WADA as part of the routine payments in 2019.

The US gave the largest regular contribution that year—$2.51 million, but that came as its relationship with WADA was growing tense.

By 2021, the US was sparring with WADA over passage of a new law written to combat doping in response to the long-running drug scandal in Russia and it also was withholding part of its payment, with the country’s top government representative in the world anti-doping structure referencing “sorry state of affairs” that existed in WADA’s governance.

While the US tangled with WADA, China was chipping in on what

Red Lions, Saints in D-League semis

MARINERONG Pilipino-San Beda clobbered Keanzel Basketball, 127-67 and Go Torakku-St. Clare dispatched CCI-Yengskivel, 114-106, in the quarterfinals Monday night to advance to the semifinals of the Philippine Basketball Association D League Aspirants’ Cup at the Filoil EcoOil Center in San Juan City.

Marinerong Pilipino-San Beda set up a rematch against Centro Escolar University (CEU) while Go TorakkuSt. Clare will face top seed and twotime defending champion EcoOil-La Salle in the best-of-three series that begin Thursday.

The Red Lions and Saints advanced to the quarterfinals with a twice-tobeat advantage but didn’t need an extra game to accomplish their goals.

Nygel Gonzales tallied 17 points to lead six others in double digit scoring for the Red Lions, who asserted themselves early on but needed a big run in the third to shut down their upset-conscious rivals. A 17-8 run to open the third put

away Keanzel Basketball, which pulled to within 33-39 late in the second quarter and the lead ballooned to 82-51 entering the fourth period.

The Saints also appeared headed for an easy win when they stormed to a 15-point advantage at halftime but CCI-Yengskivel refused to go away quietly.

Not in a game this important.

The Crusaders fought back behind Jhone Amansec, Kenneth Tener and Julius Valderama to stay in the game, 43-47, entering the fourth quarter.

But Go Torakku-St. Clare outplayed their rivals in the final period to wrap up the victory.

was essentially a fundraising effort by WADA to ramp up its fledgling intelligence and investigations (I&I) program, which played a role in the current case.

One of the documents obtained by the AP references committee member Ugur Erdener briefing the panel in September 2020 about the program and telling members that “only China, as far as he knew, had made a donation of 500,000 US dollars.”

That amount would grow to $992,000 by the end of 2020—nearly three-quarters of the money received for the program to that point, and an amount surpassed only by India when it contributed $1 million a year later, according to WADA’s 2021 annual report.

That China was about to host the 2022 Winter Olympics and India was on board to host a key International Olympic Committee (IOC) meeting could have played into the donations.

The giving also came in the leadup to the November 2019 election of IOC member Yang Yang of China to WADA vice president. Yang was elected to her second three-year term in 2022.

Last year, according to another WADA document seen by the AP, the Chinese sports products company ANTA Sports signed a three-year deal to provide WADA-branded sports

China’s national swimming federation and the Chinese Olympic committee.

Last week, reporting by The New York Times and German broadcaster ARD revealed that WADA had cleared the Chinese swimmers of doping violations by accepting the Chinese anti-doping agency’s reasoning that the athletes had been exposed to a banned heart medication through contamination.

There was no public notice of the case, nor any provisional suspension, both of which are called for in the world anti-doping code.

The quiet handling of the cases occurred about seven months before the Tokyo Olympics in 2021. Even a provisional suspension at that time could have put those swimmers’ eligibility for the games in jeopardy.

WADA used its news conference to defend and explain its process, saying in essence there was no effective way to win a case based on countering China’s claims that the swimmers had been subject to contamination. AP

“At this stage in my career I really want to go out there and make the most of every opportunity I am given,” Nadal said in a statement.

The 37-year-old Spanish superstar has long struggled with injuries and has played just five competitive matches this year, three in Brisbane in January and two in Barcelona last week.

The Laver Cup, to be held from September 20 to 22, is an indoor hard-court men’s competition pitting Team Europe against Team World in a format similar to that of golf’s Ryder Cup.

Nadal and Roger Federer teamed up in the doubles at the 2022 Laver Cup in London for the Swiss great’s last match before retirement.

“I am very happy to be playing Laver Cup in Berlin for Team Europe,” Nadal said. “I have some really special memories from my Laver Cup experiences, including all the emotions from London two years ago playing alongside Roger for the last time.” AP

RAFAEL NADAL has signaled 2024 may be his last year. AP

18-and-under crown. The other winners were Ian Ituriaga, de Juan and Mikaela Chavez from

as well as siblings

and Theriz

Ituriaga took the boys’ 18-and-under title after a walkover win

“Luxurious hole-in-one prizes from the country’s top car brands await participants.

“Savor the multiple pin placements on every par-3 hole, affording every one of more chances to hit the jackpot.    “But even if you miss on your golfing skills, you can still cash in on your lucky stars.

“For, even if you don’t score a hole-in-one, you still have a shot at the P1-million major cash raffle, plus another P1 million for Mango Tee’s traditional Cash Bonanza Raffle.

“So, come on, join us for a week of thrilling golf and a chance to take home exciting prizes.

“Count on it: The 37th Mango Tee in 2025 will simply be the best ever in the fabled history of the event.”

I can’t wait to see it tee off.

THAT’S IT   Jamaal Murray’s buzzer-beater yesterday gave Denver a 101-99 win over Los Angeles for a 2-0 lead in their best-of-seven series. The winning shot was fired in front of towering Anthony Davis, after Laker LeBron James missed a hurried three.

Iloilo,

Besper

Zapatos from Kalibo.

over Marben Alimarin, while de Juan emerged victorious in the 12-and-under side with a 1-0 (ret.) triumph over Don Olavides. Chavez dominated the 10-and-under unisex final with a 4-1, 4-1 romp of Abby Castigador, while Besper Zapatos defeated Theriz in a thrilling three-setter match for the girls’ 14-and-under title.

ANTHONY CASTIGADOR and Alexandra Onte (second and third from left) display their trophies with Provincial Sports Coordinator Matthew Vitervo (left)

NYGEL GONZALES topscores for the Red Lions.