BusinessMirror May 8, 2024

THE Philippines is looking to raise as much as $2 billion from a two-part dollar bond sale on Tuesday, its first trip to the international market this year, according to Finance Secretary Ralph G. Recto.

The offer is part of a plan to raise about $5 billion in funding from overseas markets for 2024, Recto said in a mobile phone reply to queries.

Manila’s proposed sale of 10year and 25-year debt comes during the busiest day for global bond issuance in Asia outside Japan since June 2023. At least four other borrowers have lined up offerings.

“I expect our rates/spreads to be better than our credit rating. So far, the rates seem to be okay,” Recto said. The Philippines is rated BBB+ by S&P Global Rat -

ings, Baa2 by Moody’s Ratings and BBB by Fitch Ratings, all investment grade.

The Philippines’s dollar bonds would have an initial price guidance of T+120 basis points (bps) area for the fixed 10-year bond and 6.05 percent area for the 25year sustainability or green bond.

The joint bookrunners for the dollar bond offering are Bank of America, Citigroup, HSBC, JP

Morgan, Morgan Stanley, Standard Chartered and UBS. The country has been breaking with the practice of tapping the market early in the year, opting instead to look for a window of opportunity to issue new debt. It has some $774 million of bonds due in September and another $1 billion notes due in October.

See “Bond sale,” A2

INFLATION QUICKENS TO 3.8% ON COSTLY FOOD

By Andrea E. San Juan @andreasanjuan & Reine Juvierre Alberto

@reine_alberto

MORE expensive rice and vegetables and higher transport costs caused inflation in April to accelerate to 3.8 percent, the Philippine Statistics Authority (PSA) said Tuesday.

The National Economic and Development Authority (Neda) and the Department of Finance (DOF) said the government is now fasttracking interventions to beef up food supply to shield consumers from the ill effects of El Niño as well as La Niña.

Data released by the PSA indicated that inflation quickened for the third consecutive month in April. The inflation rate last month was faster than the 3.7 percent recorded in March, but slower than the 6.6 percent in April 2023.

Citing data from the PSA, Neda noted that April witnessed a “surge” in food inflation as it rose to 6.3 percent from the previous month’s 5.7 percent. Key contributors include vegetables, up by 4.3 percent; fish, up by 0.4 percent and ready-made products up by 4.8 percent.

While rice—a staple in Filipino households—recorded a lower inflation rate of 23.9 percent in April, down from 24.4 percent in March, it remained as the “primary driver” of inflation, accounting for 2.1 percentage points.

“Based on how we calculate the inflation rate of rice, it will be elevated simply because of

By Malou Talosig-Bartolome

THE Department of Foreign Affairs (DFA) challenged China to sit down with Philippine officials to reduce tensions in the West Philippine Sea (WPS).

“The Philippines has been earnest in seeking ways to reduce tensions with China through established diplomatic channels.

If China is serious about properly managing the differences at sea, we urge China to favorably consider the standing Philippine invitation to

convene the next meeting of the Bilateral Consultation Mechanism on the South China Sea [BCM-SCS] as soon as possible,” the DFA said in a statement Monday.

Beijing demanded that Manila halt the delivery of construction materials to grounded naval ship BRP Sierra Madre in Ayungin Shoal and to stop bringing other non-claimant countries to the dispute.

“If the Philippines truly wants to lower tensions in the South China Sea, they

See “WPS,” A2

TBy Ada Pelonia @adapelonia

HE Department of Agriculture (DA) wants to fasttrack the approval process for the vaccine against African swine fever (ASF) as the local hog industry continues to grapple with the disease.

Agriculture Undersecretary Deogracias Victor Savellano said the DA and the Department of Health (DOH) are set to sign a memorandum of agreement that aims to hasten the rollout of the vaccine.

“Pinag-align na yung requirements ng Food and Drug Administration [FDA] at Bureau of Animal Industry [BAI] para minsanan

na lang yung lakaran, kung ano yung requirements nila ‘yun na rin yung ginagawa namin para mapabilis para sa ating stakeholders,” Savellano told reporters on Tuesday.

“Gusto nga namin bukas na sana ma -approve pero syempre may mga protocols kasing sinusunod. [We want to get it approved as fast as we can, but we still have to follow the protocols],” he said, when asked about the timeline for launching the vaccine.

Savellano said the agencies are set to finalize the MOA possibly next week.

While waiting for the vaccine, he said the DA is continuously

“DA,” A2

AUSTRALIAN PROGRAM BETS ON PHL WOMEN ENTREPRENEURS

AUSTRALIA has launched the new phase of its program that aims to help Filipino women entrepreneurs.

The program, called Investing in Women, seeks to accelerate the empowerment of Filipino women in the workplace and to invest in women-owned and led businesses.

Aside from the Philippines, two other Southeast Asian countries—Indonesia and Vietnam—will also benefit from the Investing in Women program.

Around AU$15 million (P567 million) in investible capital would be allotted for investing in women-led businesses in the Philippines, Indonesia and Vietnam.

Then another AU$5.6 million (P211 million) will go to funds in the three countries to support innovative fund managers who are helping first-time women entrepreneurs access capital for

implementing biosecurity programs to prevent ASF outbreaks.

The FDA earlier confirmed that BAI had applied for certification of the Avac vaccine from Vietnam, with the application subject to pre-assessment. ASF is a contagious swine disease with a 100 percent fatality rate which affects domestic pigs and wild boar. It has been reported in Vietnam, China, Indonesia, Thailand, Malaysia, and Korea. The Philippines first confirmed the ASF outbreak in 2019.

The latest BAI monitoring released on April 26 showed that there are 78 barangays nationwide with active ASF cases. Since 2019, the BAI has confirmed ASF outbreaks in 5,324 barangays in 73 provinces and 17 regions.

their businesses.

“We have different allocations that are working at different parts of the financing system to make sure that a diverse array of women-led businesses gets the capital that they need to grow,” Hannah Birdsey, chief executive officer of the Investing in Women Project, said in an interview after the launch.

The Philippines was a recipient of the first phase of the Investing in Women program which ran for seven years.

During the first phase of the program, the Australian government allocated P199.51 million for 34 women-led and owned small and medium enterprises. These business provided training to over 300 women smallholder farmers, around 3,000 female agri-distributers and 557 female teachers.

It also mobilized P624.89 million in

Bond sale.

Last week, the Department of Finance (DOF) said the state’s borrowing plan was raised to P2.57 trillion in 2024, higher by 4.47 percent than the P2.46 trillion target set by the Cabinet-level Development Budget Coordination Committee (DBCC).

Recto and the Bureau of the Treasury (BTr) developed a strategic fundraising plan that will continue to adopt a 75:25 borrowing mix in favor of domestic sources, the DOF said.

Broken down, the government will raise P1.93 trillion from the local debt market and P642 billion from external sources.

private investment and established the Philippine Business Coalition for Women’s Empowerment.

Australian Embassy’s Deputy Chief of Mission Moya Collett said the Philippines has long been a leader on gender equality.

“But challenges remain, especially in women’s economic empowerment. Ensuring women have opportunities to engage equitably in the workforce provides great economic and social dividends,” Collett said.

She cited a 2018 study by McKinsey&Company that the Philippine annual GDP could grow by up to 7 percent if gender equality across all socio-economic group would be advanced.

The second phase of the program is “sector agnostic,” which means they can target any sector from health, agriculture, retail, nature-based solutions, and others.

Latest data from the Treasury showed that the state’s gross borrowings stood at P830.389 billion from January to March this year, the bulk or 85.87 percent went to domestic borrowings, reaching P713.132 billion. The remaining 14.12 percent went to external borrowings at P117.257 billion.

The total outstanding debt of the national government surged to P15.178 trillion as of end-February this year, up by 10.37 percent year-on-year from P13.752 trillion.

Bond rating IN a statement last Tuesday, Moody’s Investors Service Inc. said that “according to the terms and conditions available to Moody’s, the bonds to be issued under the shelf program

“The key thing is trying to support women-led businesses with the capital that they need. So what we are targeting are businesses that are founded by women, or led by women, employ large numbers of women,” Birdsey said.

Birdsey said they will partner with the Department of Social Welfare and Development, as well with impact investment funds that are looking to invest in companies, to implement this program.

For the second phase of the program, they have partnered with Australian National University’s Global Institute for Women’s Leadership “to embed world-class research and evidence into all inititiatives.”

Oxfam Pilipinas and Good Return will also work with Investing in Woman program to “strengthen locally driven campaigns for gender equality.” Malou Talosig-Bartolome

will constitute direct, unconditional and unsubordinated obligations of the Government of the Philippines (the issuer). The bonds will rank pari passu with all of the issuer’s current and future senior unsecured external debt obligations.”

The proceeds from the bonds are intended for general purposes including budgetary support, as well as a portion of tranche maturing in 2049 for eligible projects under the Philippines’s Sustainable Finance Framework.

The ratings mirror the Government of the Philippines’s issuer rating of “Baa2.” According to Moody’s, obligations rated “Baa” are subject to moderate credit risk. “They are considered medium-grade and, as such, may possess speculative characteristics.”

Moody’s said that the Philippines’s “Baa2” issuer rating “is characterized by high economic growth potential and fiscal metrics that are broadly in line with similarly rated peers.”

“The issuer has sustained strong access to domestic and international funding markets, a stable banking system and ample foreign-currency reserves to weather global capital flow volatility,” it said.

“Structural credit challenges include low per capita income and some constraints to the quality of institutions, which stand in contrast to strong policy effectiveness, as well as a large exposure to physical climate risks,” it added. Reine Juvierre Alberto and Bloomberg News

base effect. Mababa kasi inflation natin nung rice last year mula January hanggang July. Tumaas siya nung August lang,” National Statistician Claire Dennis S. Mapa said in a briefing on Tuesday.

Mapa noted that the international rice prices peaked in January, but declined in February and March.

“It has been on the decline for two months so this might have an impact on (local) rice prices,” he added.

In April, he noted that the price of regular milled rice averaged P51.25 per kilo compared with P51.11 in March.

The price of well-milled rice is at P56.42 in April, slightly lower than the P56.44 recorded in March. Mapa said there was also a slight reduction in the price of special rice, which was at an average of P64.68 per kilo in April compared to P64.75 in the previous month.

Neda Secretary Arsenio M. Balisacan and Finance Secretary Ralph G. Recto said the government has implemented “comprehensive measures” to ensure food security. Balisacan is chairman of the InterAgency Committee on Inflation and Market Outlook (IAC-IMO) while Recto serves as IAC-IMO vice chair.

“The government’s major strategies aim to increase productivity, build the resilience of the agriculture sector, and improve the efficiency of food systems,” said Balisacan. He also said the country must “augment” local production during shortages to ensure an adequate food supply at affordable prices.

“Food insecurity extends beyond economic strain—it directly impacts the well-being of all Filipinos. Failing to augment local production during shortages perpetuates poverty and exacerbates vulnerability,” said Balisacan. Meanwhile,the inflation rate for the bottom 30 percent income households accelerated to 5.2 percent in April from 4.6 percent in March. The year-to-date inflation rate for this income group stood at 4.4 percent.

Bracing for La Niña

THE DOF said the government is taking all the necessary steps to counter the adverse impact of El Niño on food supply.

Recto said the IAC-IMO is “all hands on deck” in tackling the increase in prices and

GOVT MULLS OVER BOND

Continued from A14

DENR Undersecretary Carlos Primo C. David said most of those with no access to water supply are from Mindanao, particularly the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and island communities.

“We have roughly around 7,600 plus

should immediately stop intruding the waters adjacent to China’s Nansha Qundao (Spratly Islands) and Huangyan Dao (Scarborough Shoal), stop sending construction materials to the warship illegally ‘grounded’ at Ren’ai Jiao (Ayungin Shoal) and building permanent facilities, and stop illegal landing activities on relevant uninhabited islands and reefs.

They also need to stop bringing countries into their scheme, flexing muscles, spreading disinformation and misleading the international community,” China Foreign Ministry Lin Jian said in a press briefing from Beijing.

islands but not many people know that 5,500 of those are small islands and many of these small islands do have communities, mostly fisherfolks and each and every one of those do not have access to water,” David said.

DENR is planning to deploy small desalination plants, worth some P8 million, to provide water supply in 65 island barangays.

On Tuesday, the DFA denied that the administration of President Ferdinand Marcos Jr. made any arrangements with China pertaining to the resupply missions to the Ayungin Shoal in the West Philippine Sea.

It stressed that “only the President of the Republic of the Philippines can approve or authorize agreements entered into by the Philippine Government on matters pertaining to the West Philippine Sea and South China Sea.”

“The DFA can confirm that no Cabinetlevel official of the Marcos administration has agreed to any Chinese proposal pertaining to the Ayungin Shoal.

As far as the Philippine Government is concerned, no such document, record or deal exists, as purported by the Chinese Embassy,” the DFA said in a statement.

The latest denial from the DFA clarified the ambiguous statement it released Monday that “it is not aware of any ‘new model’ arrangement being referred to by the Chinese Embassy with regard to Ayungin Shoal.”

The Chinese Embassy in Manila had earlier blamed the administration of Marcos

ensuring food security.

“We have kept inflation within the target band so far despite the ongoing El Niño season, and we will continue to do so while proactively preparing for La Niña,” Recto said in a statement on Tuesday. The Finance chief added that the DOF is “strictly monitoring” food inflation, particularly rice and other key commodities, to know which areas to focus their efforts on. To ensure adequate food supply, Recto said the DOF is working closely with the Department of Agriculture to fast-track interventions through improvements in agricultural production and timely importation of key commodities.

The DOF said that it is monitoring the implementation of Administrative Order 20 signed by President Ferdinand R. Marcos Jr. on April 18, 2024, along with other concerned agencies. This streamlines administrative procedures and policies, and removes non-tariff barriers to the importation of agricultural products, it added.

‘Within target range’

THE BSP said Tuesday that the inflation rate of 3.8 percent in April is within its target range of 3.5 to 4.3 percent. The inflation outturn, according to the central bank, is in line with its expectations that inflation may potentially surge above the target range during the next two quarters of the year. This is due to both positive base effects and the potential negative impact of adverse weather conditions on domestic agricultural output.

“Nonetheless, the BSP expects average inflation to return to the target range for full year 2024 and 2025,” the BSP added. Furthermore, the BSP said risks to the inflation outlook remains tilted to the upside, such as possible further price pressures linked to increased transportation costs, higher food costs, elevated energy rates, and global oil prices.

The BSP also projected potential adjustments to the minimum wage adjustments, which could also give rise to second-round effects.

Moving forward, the central bank said that the Monetary Board (MB) will take into account the latest inflation as well as the GDP data for the first quarter in its upcoming monetary policy meeting on May 16.

“The BSP also continues to support the National Government’s non-monetary measures to address supply-side pressures on prices and sustain the disinflation process,” it added.

David said they are now in talks with five suppliers from Israel, Netherlands and Singapore to secure the small desalination facilities, which will make membrane filters to convert seawater to freshwater.

“The technology for the membranes is quite expensive [and] very power-intensive but now the technology has evolved so much that these filters are now modular in size—they are now small and they can now be powered by solar power,” he said. DENR said desalination plants are already a proven technology, which are being used by 20 barangays and Cebu City.

of “unilaterally abandoning” the previous agreement reached during the administration of President Duterte, and the subsequent “internal understanding” and “new model” allegedly reached in the current administration.

“Aside from disrupting existing fishing arrangements in Huangyan Dao (Scarborough Shoal), the current Philippine administration also reneged on its own words on the management of Renai Jiao (Ayungin Shoal) and unilaterally abandoned the Gentlemen’s Agreement, Internal Understanding and New Model agreed upon by the two sides. This is the real cause of maritime incidents that heightened tension in the South China Sea over the past year,” the Chinese Embassy said. It called on China to “desist from disseminating such disinformation or insinuations against Philippine officials.” Such claims, it stressed, “creates confusion among the Filipino public and distract from the real issues created by China’s unfounded claims, and illegal and aggressive actions in our waters.”

“The DFA reiterates its firm position that the Philippines has not entered into any agreement abandoning its sovereign rights and jurisdiction over its exclusive economic zone and continental shelf, including on the Ayungin Shoal,” the DFA said.

Effect of heat on construction workers, government frontliners worries Villar

SEN . Mark Villar on Tuesday raised concerns on the wellbeing of workers exposed to extreme heat conditions. Villar cited cases of heat-induced accidents and deaths of construction workers, law enforcement personnel, and other workers exposed for hours under the sun.

“Nakakabahalanapoangheatindexnatin ngayondahilmaraminaangnaapektuhan,” Villar warns, citing reports of accidents and deaths caused by the extreme heat.” He stressed that it is “time for the government to act,” adding, “kailangan na po nating aksyunan ito at magkaroon ng [we need to act on this and implement] preventive measures na mababawasan ang [that will lessen] exposure sa init ng ating mga manggagawa [to heat of the workers],” he said. The Department of Health has recorded 77 heat-related illnesses and seven heatrelated deaths since January.

These are linked to the abnormally high heat index which reached the range of 50° in some areas.

The weather bureau considers heat indices 40° and above as dangerous.

“Noong nakaraang linggo ay mayroon po namga[Last week there were] traffic enforcers and construction workers na pumanaw dahil sa kanilang [who died owing to] overexposure sa araw [to the Sun]. Ang mga kaso po nila ay isang [what happened to them should be a] wake-up call para sa ating lahat para magkaroon ng mga {to all of us so that] appropriate adjustments and consideration will be done parasakanila[for them],”Villar added.

He urged local governments to look into adjustments on working hours, easing of work attire requirements, and rotational shifts of workers. He urged the increased presence of health care workers in areas of heavy foot traffic during the peak of the heat. Butch Fernandez

Senator eyes links between POGOs, hacking of govt websites, surveillance

By Butch Fernandez @butchfBM

ASENATOR on Tuesday aired serious concern over Philippine Offshore Gaming Operators (POGOs) that may have possible connections to surveillance activities and the hacking of government websites.

Sen. Anna Theresia “Risa” Hontiveros made the statement during the Senate Committee on Women, Children, Family Relations, and Gender Equality hearing on the recently raided POGO in Bamban, Tarlac, in which wide-scale scam operations were uncovered.

“I was very disturbed to hear that there is persuasive information from the intelligence community stating na ang  [that this] Bamban complex na ito ay ginagamit  [is being used] for surveillance activities,  at ang ilang nabalitang  [and

Move to postpone bgy, youth polls

starts

ABy Jovee Marie N. dela Cruz @joveemarie

SENIOR lawmaker is proposing the setting of the next barangay and Sangguniang Kabataan, or SK, elections (BSKE) on October 26, 2026.

In House Bill 10344, Camarines Sur Rep. Luis Raymund Villafuerte pointed out the discrepancy in holding the next elections on December 1, 2025, resulting in a shortened term for the incumbent officials.

“This truncation undermines the electorate’s right to suffrage and contradicts the mandated three-year tenure outlined in both the 1987 Constitution and the 1991 Local Government Code,” Villafuerte said.

The last BSKE was held in October 2023, which means that the incumbent officials will serve for two years only if the next polls were held in 2025.

This shorter term for the would-be winners, once the BSKE is held next year as currently scheduled, will actually contravene the three-year term of office for these elective officials as mandated

by the 1987 Charter and the 1991 LGC, said the Bicolano lawmaker, who wrote HB 10344 with Camarines Sur Rep. Miguel Luis Villafuerte and Bicol Saro Rep. Brian Raymund Yamsuan.

It likewise “diminishes the obligations of the incumbent BSK officials to serve their constituents, and lessens their accountabilities in the exercise of the power vested in them by the people’s free choice” if they serve for only two years, Villafuerte added.

To uphold the constitutional mandate of three-year terms for BSKE winners, HB 10344 proposes moving the election date to October 26, 2026, in accordance with RA 11462. Article X, Section 8 of the Constitution stipulates the three-year term for elective local officials, while Section 43(C) of RA 9164 establishes the same for barangay and SK officials. The Supreme Court’s decision on the unconstitutionality of RA 11935 underscores the need for legislative action, he said.

While acknowledging the legal complexities, Villafuerte emphasizes that

the proposed amendment in HB 10344 ensures that elected officials serve their full term as intended by law.

This operative fact doctrine recognizes the validity of a legal provision before its declaration as unconstitutional. Thus, this doctrine makes an otherwise invalid act legitimate.

In its decision on the two cases, the SC declared RA 11935 unconstitutional for: (1) violating the right to due process of law and, accordingly, infringing the constitutional right of the Filipino people to suffrage; and (2) having been enacted in patent grave abuse of discretion.

However, the SC said that its decision on the unconstitutionality of RA 11935 maintained the “proper recognition of the consequences and effects that cannot be justifiably reversed prior to this ruling,” such that the October 2023 BSKE “shall proceed as scheduled” and “the sitting BSK officials shall continue to hold office until their successor shall have been elected and qualified.”

“This proposed amendment on setting

BuCor welcomes probe into strip search of visitors

Tsome reported] high profile cases of hacking of our own government websites  ay  [are] traceable  sa  [to this] complex  na ito,” a disturbed Hontiveros said in her opening statement last April 24, when she inspected the raided Zun Yuan Technology Inc., a licensed POGO located in the Baofu Compound in Bamban. She then renewed her call to ban POGOs after Chinese fugitives were found in the facility. “Ilang beses na natin pinanawagan na palayasin ang mga  [I have several times called for the expul -

the next BSKE in 2026 and then every three years thereafter gives the sufficiency of time for barangay and SK officials to fulfill their promises and obligations in accordance with the term of three years as intended by the Constitution, the 1991 LGC and RA 9164,” Villafuerte said.

With the SC’s invalidation of RA 11935, Villafuerte explained that this meant that RA 11462 remains “the controlling law on the BSK elections...With the invalidation of RA 11935, the Supreme Court simply respects the term set in RA 11462, in which the current one ends in December 2025.”

In invalidating RA 11935, Villafuerte pointed out that “the SC did not assert its power over the Congress; rather, it only enforced and upheld the supremacy of the Constitution. More importantly, the High Tribunal explained that, the Congress was not precluded from further amending RA 9164, as amended, subject to the guidelines that the SC had provided.”

HB 10344 seeks to amend RA 9164 by (1) setting the next synchronized BSKE on the last Monday of October 2026 and every three years after that; and (2) setting the term of office of the winning officials to commence at noon on November 30 following their election.

sion of] POGO[s] sa bansa dahil puro krimen at pugante lang ang dala  [because all they bring are crimes and fugitives].  Ngayon na may nakikita pang  national security issue,  ano pa nga ba ang hinihintay ng gobyerno. [Now even national security is involved. That is the government waiting for]?  Bakit hindi pa rin ipinagbabawalang mga  POGO [Why are POGOs now prohibited yet]?” she asked.

Citing findings by the Presidential Anti-Organized Crime Commission (PAOCC), she noted that most of the investigations relating to cyber-fraud and cyber-scams in the world “have a traceable connection to the Philippines.”

She conveyed serious concerns

that the country is getting known as “hotspot for scams.”

“Tayo po ay isa na sa  [were are one of the] fastest growing hotspot for scams sa buong mundo  [in the whole world],” she predicts, “if these scam hubs are so lucrative,  hindi na ito titigil  [this will not stop].”

Unless the government acts fast, Hontiveros warned, “this would just grow and grow. And before we know it, we would be faced with a threat to our national security like nothing we have ever seen before.”

The lawmaker lamented that “halo-halong kalamay na ang [There is already a mix of] scams, national security threats,  at  [and] human trafficking.”

“And let us be clear: POGOs are scam centers. POGOs are a hotspot of fugitives. POGOs are a petri dish for crimes. Kung gusto talaga labanan ng administrasyon ang krimen at ang banta sa ating pambansang seguridad.  [If the government really wants to combat crime and threats to national security], the President should start with banning POGOs,” Hontiveros added.

China’s ‘new model’ claims on Ayungin Shoal agreement ‘zombie stories’–PN

By Rex Anthony Naval

RANKING Navy (PN) official on

ATuesday branded the Chinese Embassy’s pronouncements on the “new model” for managing the tensions at the Ayungin Shoal as “zombie stories,” adding that, “such tales are better left in the grave.”

“I call them ‘zombie stories” long dead but revived from the grave, the best approach is to put these stories where they rightfully belong—in the grave, never to be heard again,” the Navy’s spokesman for West Philippine Sea (WPS) issues, Commo.

Roy Vincent Trinidad said in a message to reporters.

Trinidad also called these stories “fabricated” and “products of the imagination of the Chinese Communist Party to divert attention from their violations of international law in the WPS.”

These allegations, he said, are aimed at causing divisiveness among Filipinos.

“[These are also being used] to provide a smoke screen as they advance their agenda in the WPS and the entire South China Sea,” he added.

On May 4, the Chinese Embassy in Manila claimed that the Armed Forces Western Command (Wescom), had agreed to “new model” arrangements and that it was done under the approval of ranking Philippine government officials including Defense Secretary Gilbert C. Teodoro and National Security Adviser Eduardo Año. Teodoro, in a statement, called this latest Chinese pronouncement another “falsehood” whose purpose is to divide Filipinos and distract them from questioning China’s illegal presence in the Philippine exclusive economic zone.

Meanwhile, Año called the statement “absolutely absurd, ludicrous, and preposterous.”

“Neither I nor any other principals or officials from the National Task Force for the West Philippine Sea have consented nor committed to any proposal that will compromise the National Interest from agents of a foreign power actively engaged in oppressing us in our territories and waters. Nor will we ever even entertain proposals principally premised or grounded on the illegal, debunked, and fabricated ‘9 or 10 dash line’,” Año added.

By Joel R. San Juan @jrsanjuan1573

HE Bureau of Corrections on Tuesday welcomed any investigation over alleged abuses committed by its personnel in subjecting visitors to strip search as part of its security measures.

Corrections Director General Gregorio Pio Catapang made the statement following reports that the wives of several prisoners have filed a complaint before the Commission on Human Rights (CHR) after they were subjected to “degrading and traumatic” strip searches during their recent visit at the New Bilibid Prisons in Muntinlupa City. Strip search is implemented by searching a person for contraband suspected hidden on their body and clothing that usually is not found by performing frisk search.

While he welcomes any investigation, Catapang at the same time defended the strip search policy saying that it is strictly being implemented in all operating prisons and penal farms of the agency to address the increasing number of visitors being caught smuggling contrabands hidden in their private parts.

“We have to be strict, without fear or favor in the implementation of strip search, otherwise we will be remiss in our responsibility of protecting prisoners... if we exempt an individual, we might be

accused of giving VIP [very important person] treatment,” Catapang said. The complainants were assisted by Kapatid, a support group for families of prisoners who were convicted of crimes committed in pursuit of their political beliefs, in filing the complaint before the CHR. In its statement, the group said the search took place at the visiting area of the NBP Maximum Security Compound, which is under the Inmate Visitation Service Unit, on April 21.

Kapatid said the manner the strip searches was conducted “violated international and national laws governing the treatment of prisoners and visitors.”

It added that BuCor personnel could be held liable for violence against women and for “brazen harassment.”

It can be recalled that a similar complaint was filed in January 2023 before the CHR by the daughter of a prisoner who claimed that she “felt physically abused and embarrassed” after she was subjected to a strip search in a small room without a curtain and a door, allowing other guards to witness the procedure.

The complaint prompted the CHR to warn jail and prison authorities to comply with international rules in implementing security measures for visitors.

It cited provisions in the United Nations Standard Minimum Rules for the Treatment

of Prisoners, or the Mandela Rules, that forbids the use of security searches to “harass, intimidate or unnecessarily intrude upon a prisoner’s privacy” and that “intrusive searches shall be conducted in private and by trained staff of the same sex as the prisoner.”

Catapang, who is in Malaysia attending a summit, has ordered an investigation into this latest incident and assured that the agency is ready to be investigated in order to clarify the Bucor’s position on matters pertaining to the visitation of persons deprived of liberty (PDLs).

Corrections Chief Inspector Roger Boncales, acting superintendent of NBP, in his report to Catapang insisted that strip search of all visitors of prisoners should be implemented since random search and frisk search proved ineffective.

“There is an increase in the number of persons attempting to smuggle in contrabands hidden in different parts of their body. So, we should be more strict,” Boncales said.

BuCor data showed that 30 visitors of prisoners were caught from October 2023 to March 8, 2024 trying to sneak in contrabands such as illegal drugs and tobacco concealed inside their private parts or tucked or sewed into their underwear.

Boncales explained that under the Bucor Operating Manual on visitor control, all

visitors must “be subjected to a thorough body search and their belongings-packages screened for contraband” before entering the prisoner’s camp. Women visitors shall be searched only by female corrections officers and the procedure is done in a private area and with the consent of the concerned visitor.

“As NBP Acting Superintendent, it is my duty to ensure the orderliness of the visit and the observance of the established visitation procedures,” Boncales explained.

Catapang said the BuCor has appealed to Congress for additional budget to be able to buy full body scanner machines like those being used in airports the cost around P20 million to P25 million each.

“These scanners can detect objects, even those inside a person’s body, for security screening purposes, without physically removing the person’s clothes or making any physical contact,” Catapang said.

He added that the agency has expressed its full support for the passage on third and final reading of House Bill 9153, or the “Contraband Detection and Control System Act,” which aims to prevent the proliferation of contraband in prison facilities.

The bill, principally authored by Surigao del Norte Rep. Robert Ace Barbers, chairman of the House Committee on Dangerous Drugs, provides for the establishment and implementation of Contraband Detection and Control System (CDCS) through the use of modern technologies in correctional, custodial, or detention facilities nationwide.

THE Department of Justice (DOJ) yesterday hailed the conviction by the Regional Trial Court in Zamboanga City of a woman who acted as financial facilitator for the Abu Sayyaf terrorist group.

Norkisa Omar Asnalul, also known as Norkisa Omar Ibno, was found guilty beyond reasonable doubt of three counts of violation of Section 7 of Republic Act 10168 or the Terrorism Financing Prevention and Suppression Act of 2012 last April 4, 2024.

The decision was announced only on Tuesday by the DOJ. Asnalul was sentenced to a minimum of four months to a maximum of one year and seven months and ordered to pay P100,000 for each count.

The DOJ said the sentences will be served successively with full credit of her period of detention.

“The conviction of a member of the terrorist group more so, a financial facilitator, strengthens the government’s resolve not to give in to their unlawful demands,” the DOJ said in a statement quoting Justice Secretary Jesus Crispin Remulla.

“I congratulate you for a job well done.

This serves as a big win against the Abu Sayyaf network,” the statement read.

The charges stemmed from allegations that she facilitated the transfer of funds in 2015 on behalf of the Abu Sayyaf.

During arraignment of the case, the accused entered separate pleas of not guilty to the three charges.

However, the accused eventually moved for a plea bargain agreement by pleading guilty to the lesser offenses—acting as an accessory in terror financing instead of being a principal in the crime of financing terrorism which carries a maximum penalty of reclusion perpetua and a fine of up to P1 million.

Taking into account the plea bargain entered and the attending mitigating circumstances, Judge Shaldilyn Bangsaja of Branch 33 of the RTC in Zamboanga meted out lower penalty on the accused. The trial court pointed out that the provisions of RA 10168 do not prohibit plea bargaining.

“The Court finds no legal impediment to the plea-bargaining agreement entered into by the prosecution and the defense, particularly considering that the lower offense to which the accused wishes to now plead guilty to is penalized under the same law as that for which she is originally charged,” Bangsaja explained.

SEN . Anna Theresia “Risa” Hontiveros

Wednesday, May 8, 2024

Economy

FMJr order seen to speed up implementation of IFPs

By Andrea San Juan @andreasanjuan

AMEASURE recently approved

by President Marcos which aims to fast-track the implementation of the country’s Infrastructure Flagship Projects (IFPs) is seen to boost the administrations infrastructure drive and spur job creation, the National Economic and Development Authority (NEDA) said.

Socioeconomic Planning Secretary Arsenio M. Balisacan in a statement underscored the importance of Executive Order 59, that streamlined the

processing of IFPs.

“We are making it easier for implementing agencies and more attractive for our partners in the private sector to execute transformative infrastructure projects that would spur job creation for our people and enable us to sustain our economy’s rapid expansion.”

EO 59 was signed by the President on April 30.

NEDA said in a statement that the measure introduces “several critical changes” such as simplifying the requirements for the NEDA Boardapproved list of IFPs. In addition, the

agency said the EO directs national government agencies (NGAs) and local governments to review their Citizen’s Charters, aiming to eliminate “redundant and cumbersome” procedures.

Balisacan emphasized that the primary goal of the EO is “to minimize, if not eliminate, delays in the implementation of IFPs.”

With this, he stressed the need for the country to catch up with its neighbors in the region in terms of implementing infrastructure flagship projects.

“So the government must enable—

not hinder—the timely completion of these projects,” said Balisacan.

The EO also facilitates electronic application submissions to concerned agencies and local governments, including streamlined payment processes and issuance of receipts.

Moreover, Neda said the EO “encourages a whole-of-government approach” by mandating national government agencies to automate and computerize their databases. This move, the agency noted, promotes data sharing among government entities, eliminating “unnecessary document duplication.”

DENR, DOE, private sector forge ties to protect Verde Island Passage

Loyzaga said.

TBy Jonathan L. Mayuga @jonlmayuga

WO government departments have partnered with three of the country’s biggest conglomerates to protect and conserve the Verde Island Passage (VIP), a vast body of water which scientists have once declared as the center of the center of shore fish biodiversity. Under a memorandum of Understanding (MOU), the Departments of Environment and Natural Resources and of Energy; Aboitiz Equity Ventures (AEV), Metro Pacific Investments Corporation (MPIC), and San Miguel Corporation (SMC)—agreed to assume joint stewardship of the critical waterway between Luzon and Mindoro islands.

Local governments also play a crucial role in implementing the IFPs. “EO 59 mandates them to establish business one-stop shops,simplifying interactions for investors,” said Neda.

Under the said measure, local governments are also encouraged to collaborate with the Department of Information and Communications Technology (DICT) to adopt “interoperable” ICT platforms. This synergy,Neda noted, ensures “efficient project execution.”

The EO covers all NGAs, government-owned or -controlled corporations, and other government instru -

mentalities. It applies to local governments involved in the issuance of licenses, clearances, permits, certifications, and authorizations that are required for projects included in the NEDA Board-approved list of IFPs. Balisacan said this measure would support the goals of the Philippine Development Plan 2023-2028 “by expanding and upgrading the country’s infrastructure sector as part of the government’s efforts towards social and economic transformation.” Based on the IFP list, there are 185 projects approved by the Neda Board, reaching P9.14 trillion in project cost.

and generate awareness while catalyzing opportunities for the development of the massive marine ecosystem.

“Recognizing the imperative of safeguarding this natural treasure, the government, in collaboration with major business conglomerates, has embarked on a landmark partnership for the protection and conservation of the Verde Island Passage [VIP],” Environment Secretary Maria Antonia Yulo-Loyzaga said in a statement. Loyzaga said the MOU calls for the partners to collaborate with relevant local governments, nongovernment organizations, academe, international development agencies, coastal communities, people’s organizations, and other private entities to protect and enhance the biodiversity and coastal marine resources of VIP.

The MOU takes effect for five years with possible extension and with funding from each of the five signatories that will ensure VIP and the nearby provinces will thrive as a marine protected area.

The key objectives of the partnership go hand in hand with the government’s clean energy agenda through resilient and sustainable low-carbon development in the VIP.

“As a framework for joint stewardship and sustainable development, this historic initiative not only underscores the collective commitment to environmental preservation but also heralds a new era of public-private collaboration aimed at ensuring the longevity of one of the world’s most biodiverse marine ecosystems,”

Energy Secretary Raphael P.M. Lotilla said the MOU bodes well for the government’s agenda towards renewable energy. “We express our appreciation to the Department of Environment and Natural Resources, Aboitiz Group, MVP Group of Companies and San Miguel Corporation for committing to the responsible stewardship and sustainable access and use of the Verde Island Passage in pursuit of the government’s overall energy

agenda that aim to facilitate access to affordable energy, ensure a reliable and resilient energy supply, and transition to clean, sustainable and climate centered energy resources.”

Metro Pacific Chairman, President, and CEO Manuel V. Pangilinan echoed Loyzaga’s and Lotilla’s call saying that the community’s welfare and future depend on the parties’ ability to harmonize these goals.

“We must make sure that—in our quest to provide clean, reliable, and affordable energy to our people—we also pay attention to safeguarding the environment and the communities we serve,” he said.

“But because we have committed partners in San Miguel, Aboitiz, the DENR, and the DOE, there are good grounds for optimism.”

Expressing his commitment to the call for social responsibility in the VIP, SMC Chairman and CEO Ramon

Ang said, “Preserving our marine resources is crucial not just for today but for future generations. We are grateful for this opportunity to join forces with the Aboitiz group, MVP group, and various stakeholders in protecting the Verde Island Passage.” AEV President and Chief Executive Officer Sabin M. Aboitiz also emphasized the welfare of communities surrounding the area. “It has always been our earnest commitment to help safeguard our environment and uplift the welfare of the communities, in this case, the people surrounding and are dependent on the Verde Island Passage for their livelihood. Its preservation is of paramount interest and once again the Aboitiz Group, MVP Group, and San Miguel Group are working together to do our part,” he said.

The signing of the MOU dovetails with the Philippine observance of the UN Decade of Ocean for Sustainable Development and the UN Decade on Ecosystem Restoration (2021-2030), both seeking to stimulate ocean science

A salient provision of the MOU requires the parties to “establish a marine science biological research station with facilities” in VIP and at the five provinces nearby in partnership with higher educational institutions such as UP Systems, De La Salle University, and the California Academy of Sciences.

The partnership seeks to include among its key considerations the improvement of the quality of life of people in the communities at the VIP, the opportunity to be heard through a dialogue where they can express their concerns and the sustainable access and use of coastal and marine resources. It will also help meet the long-term goals and targets of the KunmingMontreal Global Biodiversity Framework (GBF) which is the key outcome of the 15th Conference of Parties to the UN Convention on Biological Diversity. With Lenie Lectura

House approves NHA corporate life extension on second reading

By Jovee Marie N. Dela Cruz @joveemarie

THE House of Represen -

tatives on Tuesday ap -

proved on second reading

House Bill (HB) 10172 that extends the National Housing Authority’s (NHA) corporate life by 25 years. Through viva voce voting, lawmak-

ers approved HB 10172, which aims to develop sustainable, affordable communities for the underprivileged and homeless, implement innovative housing solutions, and strengthen housing as a platform for poverty reduction and economic development.

The bill extends the corporate life of the NHA for 25 years, under the supervision of the Department of Human Settlements and Urban Development (DHSUD).

The chairman of the House Committee on Housing and Urban Development, Negros Occidental Rep. Jose Francisco B. Benitez, sponsor of the bill, stressed the need to adapt NHA’s functions to changing societal needs and governmental directives, emphasizing the need for alignment with Republic Act 11201, which created the DHSUD,

and other relevant legislation.

Benitez reiterated that the extension of NHA’s corporate term is not a reward but a necessary measure to address deficiencies and improve accountability.

He emphasized that the bill goes beyond merely extending NHA’s corporate term as it seeks to address deficiencies, streamline functions, and target underserved sectors effectively.

He noted the importance of accountability and transparency in NHA’s operations, including mandatory performance reviews every five years.

Benitez also cited the importance of conducting a performance audit of NHA by the Commission on Audit (COA) to guide future policy decisions. He said the bill ensures that housing assistance is targeted at the most vulnerable populations, including informal settler families (ISFs) and those affected by disasters. The bill empowers the NHA to develop and implement comprehensive housing and urban development programs, including the improvement of blighted urban areas, direct shelter provision for informal settler families, and housing programs for government employees and military personnel.

Bong Go supports probe on alleged unethical practices of pharma firm

IN a manifestation on Monday, May 6, Senator Christopher “Bong” Go expressed strong support for an extensive and fair investigation into the Bell-Kenz Pharma issue. As ruled by the Senate during the plenary session, the probe will be led by the Senate Blue Ribbon Committee joint with the Senate Committee on Health as secondary committee.

Being the Chair of the Senate Health

Committee, Go emphasized the importance of upholding the integrity of the medical profession and maintaining the trust given to doctors. He stressed the State’s obligation to safeguard the integrity of the public health system and ensure that medical professionals adhere to their ethical standards and existing laws.

“Walang masamang kumita but not at the expense of people’s health. Unahin natin ang

kapakanan ng mga pasyente especially poor and indigent patients. Interes ng tao, interes ng bayan at ano ang katotohanan,” he asserted.

Following initial discussions conducted by the Senate Committee on Health during its hearing last April 30, the matter has been officially referred by the Senate Committee on Rules to the Blue Ribbon Committee for further investigation. Go expressed his full support for this decision, emphasizing his

confidence in the committee’s ability to conduct a thorough and impartial inquiry.

“It is crucial to continue this investigation and get to the bottom of this. Whether primary or secondary, whether it is the Committee on Health or the Blue Ribbon Committee or any other related committee, ang importante malaman natin ang totoo,” Go declared.

Earlier, Go has asked concerned regulatory

bodies and government agencies, including the Department of Health (DOH), Food and Drug Administration, Professional Regulation Commission, Securities and Exchange Commission, and Philippine Competition Commission, to also investigate the accusations against the pharma company based on their respective mandates.

“We are pleased to know that, according to (DOH) Secretary (Teodoro) Herbosa, a joint

investigation is underway,” Go noted. Further, Go underscored the importance of scrutinizing not only Bell-Kenz but also other entities with similar alleged unethical practices. He stressed the importance of government regulations to ensure that unethical and unlawful practices are not tolerated.

“It is crucial for the Blue Ribbon to investigate if there is malfeasance, misfeasance, or non-feasance on the part of government agencies,” Go underscored. Go also reiterated the need to unearth the truth behind the alleged long-standing malpractice and ensure accountability at every level.

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Israeli forces take control of the Gaza side of the Rafah crossing with Egypt

JERUSALEM—An

Israeli tank brigade seized control Tuesday of the Gaza Strip side of the Rafah border crossing with Egypt, authorities said, moving forward with an offensive in the southern city even as cease-fire negotiations with Hamas remain on a knife’s edge.

The move comes after hours of whiplash in the Israel-Hamas war, with the militant group on Monday saying it accepted an Egyptian-Qatari mediated cease-fire proposal. Israel, meanwhile, insisted the deal did not meet its core demands. The high-stakes diplomatic moves and military brinkmanship left a glimmer of hope alive—but only barely—for an accord that could bring at least a pause in the 7-month-old war that has devastated the Gaza Strip.

The Israeli 401st Brigade entered the Rafah crossing early Tuesday morning, the Israeli

military said, taking “operational control” of the crucial crossing. It’s the main route for aid entering the besieged enclave and exit for those able to flee into Egypt. Israel fully controls all access in and out of Gaza since the war began.

Footage released by the Israeli military showed a tank entering the crossing. Details of the video matched known features of the crossing and showed Israeli flags flying from tanks that seized the area.

The Israeli military claimed it seized the crossing after receiving intelligence it was

“being used for terrorist purposes.” The military did not provide evidence to immediately support the assertion, though it alleged the area around the crossing had been used to launch a mortar attack that killed four Israeli troops and wounded others near the Kerem Shalom Crossing. The military also said that ground troops and airstrikes targeted suspected Hamas positions in Rafah.

Wael Abu Omar, a spokesman

Biden warns Netanyahu against Rafah offensive as Palestinian death toll rises

By Zeke Miller & Aamer Madhani The Associated Press

WASHINGTON—President Joe Biden on Monday urgently warned Israeli Prime Minister

Benjamin Netanyahu against launching an offensive in the southern Gaza city of Rafah as the divide between the two leaders continues to grow along with the mounting Palestinian death toll.

The call between Biden and Netanyahu came as Israel appeared to be moving closer to a major military operation to root out Hamas militants in Rafah—something that Biden and his top aides have repeatedly told Israeli officials will only lead to more death and worsen the despair in the war-ravaged territory.

Both leaders are facing growing public pressure—Biden from protests on college campuses and Netanyahu from the families of some Israeli hostages— for a cease-fire deal.

“The president doesn’t want to see operations in Rafah that put at greater risk the more than a million people that are seeking refuge there,” White House national security spokesman John Kirby said.

The White House described the leaders’ 30-minute conversation as “constructive.” Privately, however, administration officials’ concern was mounting as Israel on Monday ordered about 100,000 Palestinians to evacuate from Rafah and began carrying out “targeted” strikes in the eastern part of the city.

White House officials were carefully watching the unfolding, intensified Israeli action in Rafah with deep worry, but did not believe it amounted to the widescale attack Netanyahu has been threatening, according to a person familiar with administration thinking who was not authorized to comment publicly.

More than 34,000 Palestin -

ians have been killed in the war that started after Hamas launched an attack on Israel on Oct. 7 that killed 1,200. Some 250 people were also taken hostage in the brazen attack.

Meanwhile, the humanitarian situation is rapidly deteriorating in huge swaths of Gaza.

The head of the United Nations World Food Program, Cindy McCain, said Sunday that northern Gaza has entered “full-blown famine” after nearly seven months of war.

Ahead of the leaders’ call, Israel announced it was ordering Palestinians to begin evacuating from Rafah. Soon after the order, Hamas said in a statement it has accepted an EgyptianQatari proposal for a cease-fire.

Israeli military spokesman Rear Adm. Daniel Hagari said Israel would continue its operations in Gaza as officials deliberate the cease-fire proposal approved by Hamas. And the Israeli War Cabinet voted unanimously to approve a Rafah military operation but said it would continue cease-fire efforts.

The new targeted strikes in eastern Rafah appeared aimed at keeping the pressure on Hamas as talks continue.

Kirby said Biden had been briefed on Hamas’ response that it would accept a hostage deal.

CIA Director William Burns, who was in Qatar for hostage talks with regional officials, was discussing the Hamas statement with allies in the region. Kirby declined to discuss the parameters of what Hamas is saying it has agreed to.

“Bill Burns is looking at that response. He’s talking to the Israelis about it,” Kirby told reporters. “And we’ll see where this goes. Hopefully, it can lead to those hostages getting out real, real soon.”

In recent days, Egyptian and Hamas officials have said the cease-fire would take place in a series of stages during which Hamas would release hostages it is holding in exchange for Is -

raeli troop pullbacks from Gaza.

Biden also told Netanyahu he still believes reaching a cease-fire with Hamas is the best way to protect the lives of Israeli hostages held in Gaza, officials said. Israel says Hamas is holding about 100 hostages and the remains of more than 30 others in Gaza.

The leaders’ call occurred before Hamas announced it had accepted a cease-fire proposal.

Following his call with Netanyahu, Biden hosted King Abdullah II of Jordan for a private lunch meeting at the White House for talks on the war and hostage talks. Jordan’s embassy in Washington said in a posting on the social media site X after the meeting that Abdullah warned that an Israeli operation on Rafah “threatens to lead to a new massacre.”

On Sunday, Netanyahu rejected international pressure to halt the war in Gaza in a fiery speech marking the country’s annual Holocaust memorial day, declaring, “If Israel is forced to stand alone, Israel will stand alone.”

“I say to the leaders of the world: No amount of pressure, no decision by any international forum will stop Israel from defending itself,” he said, speaking in English. “Never again is now.”

In their phone call, Netanyahu told Biden he would ensure the Kerem Shalom crossing between Gaza and Israel would remain open for humanitarian aid deliveries, according to the White House.

Israeli officials last week briefed Biden administration officials on a plan to evacuate Palestinian civilians ahead of a potential operation, according to US officials familiar with the matter.

AP writers Tara Copp in Washington and Josef Federman in Jerusalem contributed reporting.

Pentagon press secretary Maj. Gen. Pat Ryder said Defense Secretary Lloyd Austin had

for the Palestinian Crossings Authority, acknowledged Israeli forces had seized the crossing and had closed the facility for the time being. He said strikes had targeted the area around the crossing since Monday.

An Egyptian Foreign Ministry spokesperson declined to immediately comment on the Israeli seizure. Egypt previously has warned any seizure of Rafah could see Palestinians fleeing over the border, a scenario that could threaten a 1979 peace deal

with Israel that’s been a linchpin for regional security.

The offensive again raised the risks of an all-out Israeli assault on Rafah, a move the United States strongly opposes and that aid groups warn will be disastrous for some 1.4 million Palestinians taking refuge there.

Egyptian officials said the proposal called for a cease-fire of multiple stages starting with a limited hostage release and partial Israeli troop pullbacks within Gaza. The two sides would also negotiate a “permanent calm” that would lead to a full hostage release and greater Israeli withdrawal out of the territory, they said.

Hamas sought clearer guarantees for its key demand of an end to the war and complete Israeli withdrawal in return for the release of all hostages, but it wasn’t clear if any changes were made.

Israeli leaders have repeatedly rejected that trade-off, vowing to keep up their campaign until Hamas is destroyed after its October 7 attack on Israel that triggered the war. AP

Pulitzer Prizes in journalism awarded to The New York Times, The Washington Post, AP and others

By David Bauder Ap Media Writer

NEW YORK—The New York Times and The Washington Post were awarded three Pulitzer Prizes apiece on Monday for work in 2023 that dealt with everything from the war in Gaza to gun violence, and The Associated Press won in the feature photography category for coverage of global migration to the US. Hamas’ October 7 attack on Israel and its aftermath produced work that resulted in two Pulitzers and a special citation. The Times won for text coverage that the Pulitzer board described as “wide-ranging and revelatory,” while the Reuters news service won for its photography. The citation went to journalists and other writers covering the war in Gaza.

The prestigious public service award went to ProPublica for reporting that “pierced the thick wall of secrecy” around the US Supreme Court to show how billionaires gave expensive gifts to justices and paid for luxury travel. Reporters Joshua Kaplan, Justin Elliott, Brett Murphy, Alex Mierjeski and Kirsten Berg were honored for their work.

The Pulitzers honored the best in journalism from 2023 in 15 categories, as well as eight arts categories focused on books, music and theater. The public service winner receives a gold medal. All other winners receive $15,000.

The 15 photos in AP’s winning entry were taken across Latin America and along the US-Mexico border in Texas and California in a year when immigration was one of the world’s biggest stories.

They were shot by AP staffers Greg Bull, Eric Gay, Fernando Llano, Marco Ugarte and Eduardo Verdugo, and longtime AP freelancers Christian Chavez, Felix Marquez and Ivan Valencia.

“These raw and emotional images came about through day-to-day coverage of a historic moment in multiple countries documenting migrants at every step of their treacherous journeys,” said Julie Pace, the AP’s senior vice president and executive editor.

The United States has seen more than 10 million border arrivals in the last five years, with migrants arriving from a wide range of new locations like Venezuela, Cuba, Ecuador, Haiti and African countries, in contrast with earlier eras. The AP has won 59 Pulitzer Prizes, including 36 for photography. The news cooperative was named a finalist for the national reporting Pulitzer on Monday for its coverage of hundreds of thousands of children who disappeared from public

schools during the pandemic.

In citing the Times for its work in Israel and Gaza, the Pulitzer board mentioned its coverage of the country’s intelligence failures, along with the attack and Israel’s military response.

The award comes even as The Times has faced some controversy about its coverage; last month a group of journalism professors called on the publication to address questions about an investigation into gender-based violence during the Hamas attack on Israel.

The Times’ Hannah Dreier won a Pulitzer in investigative reporting for her stories on migrant child labor across the United States. Contributing writer Katie Engelhart won the newspaper’s third Pulitzer, in feature writing, for her portrait of a family struggling with a matriarch’s dementia.

“Every one of the winners and finalists showcases a drive for original, revelatory reporting that underpins so much of what we produce, from the biggest storylines in the news to feature writing as well as classic investigations,” said Joe Kahn, the Times’ executive editor.

The Washington Post staff won in national reporting for its “sobering examination” of the AR-15 semiautomatic rifle, which came with some gut-wrenching photos. “We were eager to find a way to cover it differently and change the conversation about mass shootings,” Peter Walstein, the Post’s senior national enterprise editor, said in the newspaper.

The Post’s David E. Hoffman won in editorial writing for a “compelling and well-researched” series on how authoritarian regimes repress dissent in the digital age. Its third award went to contributor Vladimir Kara-Murza, for commentaries written from a Russian prison cell.

The New Yorker magazine won two Pulitzers. Sarah Stillman won in explanatory reporting for her report on the legal system’s reliance on felony murder charges. Contributor Medar de la Cruz won in illustrated reporting and commentary for his story humanizing inmates in the Rikers Island jail in New York City. The staff of Lookout Santa Cruz in California won in the breaking news category for what the prize board called “nimble community-minded coverage” of flooding and mudslides. On its website Monday, Lookout Santa Cruz said that it made its coverage free at a time of crisis in the community, and also used text messages to reach people without power.

SMOKE rises following an Israeli airstrike east of Rafah, Gaza Strip on Monday, May 6, 2024. AP/ISMAEL ABU DAYYAH

Boeing’s latest crisis: FAA probes falsified records on 787 Dreamliners, no immediate safety risk seen

By Gene Johnson The Associated Press

EATTLE—The Federal Avia -

Stion Administration said

Monday it has opened an investigation into Boeing after the beleaguered company reported that workers at a South Carolina plant falsified inspection records on certain 787 planes. Boeing said its engineers have determined that misconduct did not create “an immediate safety of flight issue.”

In an e-mail to Boeing’s South Carolina employees on April 29,

Scott Stocker, who leads the 787 program, said a worker observed an “irregularity” in a required test of the wing-to-body join and reported it to his manager.

“After receiving the report, we quickly reviewed the matter and learned that several people had been violating Company policies by not performing a required test, but recording the work as having been completed,” Stocker wrote.

Boeing notified the FAA and is taking “swift and serious corrective action with multiple teammates,” Stocker said.

No planes have been taken out of service, but having to perform the test out of order on planes will slow the delivery of jets still being built at the final assembly plant in North Charleston, South Carolina.

Boeing must also create a plan to address planes that are already flying, the FAA said.

The 787 is a two-aisle plane that debuted in 2011 and is used mostly for long international flights.

“The company voluntarily informed us in April that it may not have completed required inspections to confirm adequate bonding

and grounding where the wings join the fuselage on certain 787 Dreamliner airplanes,” the agency said in a written statement. “The FAA is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records.”

The company has been under intense pressure since a door plug blew out of a Boeing 737 Max during an Alaska Airlines flight in January, leaving a gaping hole in the plane. The accident halted progress that Boeing seemed to be making while recovering from

two deadly crashes of Max jets in 2018 and 2019.

Those crashes in Indonesia and Ethiopia, which killed 346 people, are back in the spotlight, too. The families of some of the victims have pushed the Justice Department to revive a criminal fraud charge against the company by determining that Boeing’s continued lapses violated the terms of a 2021 deferred prosecution agreement.

In April, a Boeing whistleblower, Sam Salehpour, testified at a congressional hearing that the

company had taken manufacturing shortcuts to turn out 787s as quickly as possible; his allegations were not directly related to those the company disclosed to the FAA last month. The company rejected Salehpour’s claims.

In his e-mail, Stocker praised the worker who came forward to report what he saw: “I wanted to personally thank and commend that teammate for doing the right thing. It’s critical that every one of us speak up when we see something that may not look right, or that needs attention.”

El Niño’s devastating impact highlights need for govt intervention

South American fishermen who first noticed periods of unusually warm water in the Pacific ocean named the weather phenomenon El Niño de Navidad. the term is Spanish for “Christ child” or “Little Boy” given its tendency to arrive around Christmas, according to the National oceanic and Atmospheric Administration (NoAA) of the united States.

Aside from its effect on marine life, the weather phenomenon named after the Christ child is currently wreaking havoc on farms in the Philippines and damaging crops, particularly rice. In a bulletin it released recently, the Department of Agriculture reported that the country’s staple crops—rice and corn—suffered the brunt of El Niño. Of the crops it destroyed, rice recorded the biggest damage estimated at around P3.1 billion (See, “DA: Key crops bear El Niño brunt, damage hits P5.9 billion,” BusinessMirror , May 3, 2024).

As the debate on introducing amendments to the Rice Tariffication Law (RTL) heats up, the latest bulletin of the DA should serve as a reminder to policymakers of the need to fasttrack the implementation of interventions to enable the country to cope with the adverse impact of severe weather conditions. Chief among the aims of those interventions is to raise the productivity of local rice farms to minimize the risk posed by the country’s dependence on rice imports. And while there have been improvements in terms of output, more needs to be done, particularly if the Philippines wants its rice sector to be competitive.

The Philippine Rice Research Institute (PhilRice) reported during a recent hearing on RTL amendments at the House of Representatives that the average rice yield per hectare is currently at 4.36 per metric tons, some 21 percent higher than the 3.63 MT recorded in 2019, the year when RTL or Republic Act 11203 came into effect. The improvement in yield and the rollout of other interventions allowed the Philippines to produce a record 20 million metric tons (MMT) of palay last year. This despite the fact that the cost of inputs, particularly fertilizer, remained elevated.

While the increase in yield was significant, the Philippines continued to import millions of tons of rice because domestic output was still unable to meet the requirements of local consumers. The country imported 3.8 MMT of milled rice to supplement its domestic production of 13.43 MMT in milled terms, according to the Congressional Policy and Budget Research Department, which cited data from the Asean Food Security Information System. One of its sources was Southeast Asian neighbor Vietnam, whose rice yield averaged 6 MT per hectare in 2018-2023, according to data from the United States Department of Agriculture.

NOAA said El Niño and La Niña events occur every two to seven years, but they don’t occur on a regular schedule. However, El Niño occurs more frequently than La Niña. We hope that policymakers will do what is necessary to further increase palay yield and cut postharvest losses to shield rice-consuming Filipinos from the ill effects of these weather phenomena.

Faster infra projects

tTHE BUILDER

hiS is a piece of good news. the government’s plan to speed up the approval process for infrastructure projects is very timely—and crucial to closing the infrastructure gap.

Bureaucratic procedures, originally designed to ensure fiscal prudence and project feasibility, can often delay project implementation and inflate costs.

Recognizing this, the National Economic and Development Authority (Neda) Board, chaired by President Ferdinand Marcos Jr., approved new Investment Coordination Committee (ICC) guidelines that streamline the review process for national public-private partnership (PPP) proposals.

Infrastructure projects take time to build, with the approval process alone lasting several months, if not years because of the lengthy procedures.

The government wants to reduce the waiting time, and let the projects start without delay after undergoing the evaluation process by the ICC.

The ICC is an interagency body co-chaired by the Department of Finance Secretary and Neda Secretary that evaluates the impact of major national projects on the economy.

The new guidelines set clear timelines and encourage the ICC to expedite project reviews. This is especially important for PPP projects, where the private contractors, con-

C817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com www.news.businessmirror@gmail.com

cessionaires or partners heavily rely on government action.

While public oversight is needed to ensure accountability, the government and its private sector partners should have a common goal of meeting the timelines to deliver the maximum benefits and desired outcomes.

The new Neda Board guidelines are expected to help speed up project implementation and avoid unnecessary delays that may bloat expenses to the disadvantage of both parties.

Major infrastructure projects usually take at least three years to build, representing half of the term of the new president. This means an administration may only see the completion of one project cycle within its term.

It underscores the importance of pursuing projects simultaneously at local and national levels. The government has, in fact, identified 185 infrastructure flagship projects worth P9.14 trillion under the “BuildBetter-More” program.

The goal is to complete as many of these projects as possible by 2028, the end of President Marcos’ term. Several projects, including the Metro

By Jay Zhao-Murray

ANAdiANS are feeling gloomy about their personal finances —and Generation Z is the gloomiest of all. the Nanos Pocketbook index, a measure of how people perceive their personal finances and job security, fell to 50 last week, matching its April 2020 low. it’s one component of the broader Bloomberg Nanos Canadian Confidence index, which also gauges the public’s expectations about the economy.

Young people are driving the pocketbook index lower. For respondents aged 18 to 29 — who are mostly members of Gen Z, along with the youngest millennials—the index fell to 40, the lowest recorded in its 16-year history. The youth index has been in freefall since the last week of March, down 17 points in just five weeks. The recent sharp deterioration is worse than in April 2020, the depths

I am glad that the Marcos administration improved the policy environment in line with its goal to keep infrastructure spending at 5 percent of the gross domestic product or higher. We need to raise the absorptive capacity of implementing agencies to meet the goal.

Manila Subway and North-South Commuter Railway, are already underway.

I am glad that the Marcos administration improved the policy environment in line with its goal to keep infrastructure spending at 5 percent of the gross domestic product or higher. We need to raise the absorptive capacity of implementing agencies to meet the goal.

The streamlined review process, as outlined in the new Neda Board guidelines, is a crucial first step in ensuring projects get off the ground quickly. The guidelines make sure that the approval process will be faster, so that the projects can take off as swiftly as possible.

The new guidelines on reviewing and approving the PPP proposals followed the approval by Congress of the PPP Code of the Philippines and the issuance of its implementing rules and regulations by multiple agencies.

Per Neda Secretary Arsenio M. Balisacan, who also serves as the Neda Board vice chair, the recently approved guidelines would create a streamlined process for high-impact PPPs.

Under the new guidelines, the Neda ICC approval for projects amounting to at least P15 billion should be completed within 113 cal-

endar days, with a maximum limit of 120 calendar days.

The ICC approvals for projects below P15 billion should be completed in 83 to 90 calendar days, with a possible extension of up to 120 calendar days. The approved ICC guidelines took effect immediately.

Secretary Balisacan expressed hope that with the right policies and enabling investment ecosystem, the private sector investors will be more encouraged to join the crucial task of nation building.

The government earlier signed the PPP Code’s implementing rules and regulations (IRR) on March 21, 2024. Department of Finance Secretary Ralph Recto said with the IRR in place, the floodgates for a sustained flow of strategic investments were unlocked to deliver top-tier infrastructure and public services to the Filipino people.

I also believe the private sector will follow the lead of the government in meeting the timelines while abiding by the best construction practices and standards that guarantee quality, safety and maximum returns for the public.

Infrastructure development is not just an investment in the future. It’s also an ongoing economic activity that creates jobs, supports related industries and stimulates domestic demand. Timely project completion will ensure these projects deliver the best results as soon as possible. The streamlined approval process for PPP projects marks a significant step towards closing the Philippines’ infrastructure gap.

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

Financial difficulties among young people are a broader warning sign for the Canadian economy. And they don’t do anything to boost the country’s meager birth rate, since affordability concerns discourage many young couples from starting families.

percent say their finances have gotten worse. In a technical sense, Canada has avoided a recession so far. That’s mostly due to explosive migrationled population growth, which has kept the economic pie from shrinking. The slices have grown smaller, however. On a per-capita basis, the economy has shrunk 3 percent since

September 2022.  Signs of strain among young people are especially visible in the labor market, where job gains have not kept up with the surging population. Youth unemployment has risen about four times faster than unemployment for all age groups. In March, Canada’s unemployment rate was 6.1 percent, up 1.1 percentage points since December 2022. Over the same period, unemployment among 15 to 29 year olds was up 4.3 percentage points to 10.9 percent. New data for April will be released on Friday.

Financial difficulties among young people are a broader warning sign for the Canadian economy. And they don’t do anything to boost the See “Young,” A13

Mark Villar

EU says ready to use all trade tools to defend against China

By William Horobin, Samy Adghirni & Li Liu

The european Union is prepared to deploy all the tools available to defend its economies if China fails to offer fair access to its markets, european Commission President Ursula von der Leyen said after talks with Xi Jinping in Paris.

She added that heavily subsidized Chinese products such as electric vehicles and steel are flooding Europe, and said the world cannot absorb China’s surplus production.

Von der Leyen spoke following a meeting on Monday with French President Emmanuel Macron and Xi, who is on a state visit to France before heading to Serbia and Hungary in his first trip to the bloc in five years.

“For trade to be fair, access to each other’s market also needs to be reciprocal,” she said. “We discussed how to make real progress on market access. I remain confident that more progress can be achieved. At the same time, we stand ready to make full use of our trade defense instruments if this is necessary.”

The EU is becoming tougher on trade relations with China, echoing US concerns about state-fueled overcapacity in green industry. The rhetorical shift was already put into practice when the EU launched an investigation into subsidies for Chinese EVs in the fall of 2023 that could see new tariffs introduced by July. It’s also scrutinizing other industries like wind energy, solar and railways.

Von der Leyen said the EU could deploy tools including the International Procurement Instrument, which was created in 2022 and used for the first time last month to launch a probe into China’s sourcing of medical devices. Brussels could ultimately restrict Chinese access to tenders if it finds a lack of reciprocity.

“Europe cannot accept marketdistorting practices that could lead to deindustrialization,” von der Leyen said. China has denied generating overcapacity and accuses the EU of protectionism. According to the official Xinhua News Agency, Xi reiterated that position in talks with Macron and von der Leyen, saying there is no capacity issue viewed from the perspective of comparative advantage or global market demand.

France has been a key champion of the EU’s firmer approach. In a speech last month laying out his vision for Europe’s future, Macron called for the EU to do more to echo subsidies in the US and introduce preferences for its homegrown industry in strategic sectors including artificial intelligence and green tech.

French Finance Minister Bruno Le Maire has said the changes mark an end to the era of “happy globalization” and that the EU must now show its teeth. Addressing a conference of French and Chinese business leaders coinciding with Xi’s visit, he said achieving a balance is still far away as France alone has a €46 billion ($49.6 billion) trade deficit with China.

In response to the French minister, Yu Yuantang, head of the Europe department at China’s Ministry of Commerce, said his country never pursued imbalances.

“We only believe that when the two nations conduct trade, we play our own competitive advantages

country’s meager birth rate, since affordability concerns discourage many young couples from starting families.  Canada’s lack of affordability, particularly in the housing market, has led young people to turn their backs on Prime Minister Justin Trudeau. The under-30 crowd now largely favors the Conservative Party, a historical aberration. Trudeau tried to win those voters

Labor Code @ 50: ‘Super-majority’ still left out

TThe EU is becoming tougher on trade relations with China, echoing US concerns about statefueled overcapacity in green industry. The rhetorical shift was already put into practice when the EU launched an investigation into subsidies for Chinese EVs in the fall of 2023 that could see new tariffs introduced by July. It’s also scrutinizing other industries like wind energy, solar and railways.

then our enterprises can trade in an open, fair, stable and non-discriminatory environment,” he said.

China hasn’t stood idly by as Europe becomes more assertive. In January, Beijing launched an antidumping investigation into liquor products, a move that could hurt France’s cognac producers disproportionately. They called for a deal to resolve the issue during Xi’s visit, warning that the beverage represents 70,000 direct and indirect jobs in the country.

“The European Commission’s actions send negative and wrong signals which caused worries in industries in China and EU, and caused negative impact on the trade ties,” Yu said.

Von der Leyen said she encouraged the Chinese government to address “structural overcapacities” as China “continues to massively support its manufacturing sector” while domestic demand fails to grow.

“A China that plays fair is good for all of us,” she said. “At the same time, Europe will not waver from making tough decisions needed to protect its economy and its security.”

Moments before the Chinese president arrived at the Elysee Palace on Monday, Le Maire signed a pact with France’s auto sector that seeks to safeguard and ramp up production of EVs on French soil. That includes commitments to continue limiting cash support for consumers to vehicles with the lowest environmental footprint—a move that de facto excludes many Chinese EVs.

Yet with Xi’s visit, Macron is also seeking to balance frictions with friendliness as France looks to lure Chinese investment it needs to bolster its domestic car industry.

Speaking alongside representatives from the French auto sector, Le Maire said the government is in favor of China’s BYD Co. opening plants in France, as Japan’s Toyota Motor Corp. has in the past. “BYD is welcome in France and the Chinese auto industry is welcome in France,” he said.

Von der Leyen added that she and Macron urged Xi to use his influence over Russia’s Vladimir Putin to end the war on Ukraine, adding that China’s stance on the conflict is affecting relations between Beijing and the EU. She also said China can help limit Iran’s missile and drone proliferation. With assistance from Katharina Rosskopf/Bloomberg

back with his youth-focused April budget, but his polling numbers have continued to decline.

Every week, Nanos surveys about 250 Canadians for their views on personal finances, job security, the economy and real estate prices. Bloomberg publishes four-week rolling averages of the 1,000 telephone responses. The poll has a margin of error of about 3 percentage points, 19 times out of 20. The range of error may be wider when talking about subsets of the overall population because the survey sample size is smaller. Bloomberg

Dr. Rene E. Ofreneo

LABOREM EXERCENS

he Labor Code of the Philippines turned 50 on May 1. The Code was institutionalized by the late President Ferdinand e Marcos Sr. under unusual circumstances. Why enact or decree, through Presidential Decree 144, a Code recognizing workers’ rights and principles of industrial democracy at a time when strikes and workers’ assemblies were strictly prohibited under the martial law regime proclaimed by President Marcos in September 1972?

The far-seeing Labor Minister Blas Ople knew that trade union repression was politically untenable and unsustainable even under martial-law conditions. Thus, he fought for the continuation of the pre-martial-law institutions of trade unionism, collective bargaining and compulsory arbitration. He even issued an Order requiring employers to get clearance from the labor ministry before an employee could be terminated or separated from service. He also engineered the “stop-gap” or temporary program of deploying “overseas contract workers” while the so-called Neda’s “labor-intensive export-oriented” industrial program had not taken off. Ople was indeed the father of the Labor Code and the overseas migrant deployment program.

And yet, the Code has somehow stood the test of time. It has remained in place despite the People Power Revolt of 1986 and the succession of different presidential administrations since then. For 50 long years, it has remained the main reference book for trade union organizers, labor law practitioners and government conciliators and arbitrators.

The problem is that the Code, composed of “six books” (7th book merely a transitory book), is essentially a codification of labor standards and labor relations laws and rules that are applicable mainly to employers and workers in the formal sector of the economy. The for-

mal sector workers can be found in duly-registered enterprises where the so-called “employer-employee relations” are clearly defined. Books 3 and 4 of the Labor Code enumerate labor standard laws on wages, hours of work, health and safety and so on that are meant to protect workers and regulate work in formal establishments. Books 5 and 6 deal mainly with the registration of unions, conduct of collective bargaining between the unions and employers, and the settlement of disputes involving workers, unionized or not.

Somehow, the “super-majority” of workers is not covered by Books 3, 4, 5 and 6 of the Labor Code. The term “super-majority” was coined by President Sergio Ortiz-Luis of the Employers Confederation of the Philippines to refer to the informal workers or those belonging to what is commonly associated with the “informal sector,” which is just part of a much larger informal economy defined by the International Labor Organization as “all economic activities by workers and economic units that are – in law or in practice – not covered or insufficiently covered by formal arrangements.” They constitute the overwhelming majority of the workers, with one study estimating the number of informal workers to be 82 to 83 percent of the employed.

What do we mean by the informal sector? The ILO defines the informal sector as consisting of “smallscale, self-employed activities, with

There is no law prohibiting informal workers to form their own organizations for self-defense and promotion of their collective/ sectoral interests. The problem is that many encounter problems in forming organizations and in pursuing their respective advocacy programs.

or without hired workers, typically operating with a low level of organization and technology with the primary objective of generating employment and incomes for their participants.” Usually, these activities are carried without formal approval from the authorities and escape the administrative machinery responsible for enforcing legislation and other similar instruments concerning fiscal and administrative matters and conditions of work. The informal sector units employ family labor or a few hired workers or apprentices, operate with very limited capital, and provide low and irregular incomes and work for the informal workers.

Precarity of work is one feature of informal employment, which can occur even within the formal sector. There is no assurance of regularity or continuity of work given the precarious nature of jobs, whether formal or informal. It is in this context that some labor scholars consider those hired as casual, contractual or short-term workers as part of the informal economy. Unlike the regular or permanent workers in the formal sector, the “end-of-contract” (endo) workers do not enjoy job security. Most of them are hired through the facilities of third-party “manpower” agencies. Some are recruited as members of labor gangs or groups in the construction and plantation industries.

The informal workers are a multitude. Counting them by segments is problematic. However, some have become visible and have come out with campaigns for livelihood and other forms of protection. These include the home-based workers as organized by Homenet Philippines,

Germany vows to defend Baltic nations in event of Russian attack

By Michael Nienaber

ChanCeLLor olaf Scholz pledged to defend Germany’s three Baltic naTo allies in case of a russian attack, and to complete the establishment of a permanent brigade in Lithuania by the end of 2027.

“Germany stands firmly at the side of the Baltic states,” Scholz told reporters Monday during a visit to a German tank battalion stationed in Lithuania, his third trip to the region since taking office in 2021.

Scholz is also meeting with his counterparts from Estonia, Lithuania and Latvia in Riga to discuss closer defense and energy cooperation. The four leaders are due to hold a joint news conference later on Monday.

“We are committed to each other, that is part of the understandings we have reached in Nato,” Scholz said. “And that means that we grant each

other protection and that all states can rely on us to defend every inch of their territory.”

A preliminary command of some 20 German soldiers arrived in Lithuania in April and is set to expand to around 150 personnel by the end of the year. As many as 5,000 soldiers will be permanently stationed at the military bases of Rukla near Kaunas in central Lithuania and Rudninkai near the capital Vilnius and the border with Belarus.

Speaking alongside Scholz, Lithuanian President Gitanas Nauseda urged Germany to speed up the deployment, given Russia’s invasion of

In addition to the permanent stationing of a brigade in Lithuania, Germany is strengthening NATO’s eastern flank with the ongoing air-policing mission over the Baltic nations and a Germanled Enhanced Forward Presence battlegroup.

Ukraine and threats against other former Soviet states.

“We can’t afford the luxury of wasting even a minute,” Nauseda warned.

Sending a brigade to the Baltic States is part of Scholz’s “historic turning point” in military policy, which he proclaimed in a speech to parliament only a few days after Russia launched its full-scale invasion of Ukraine in February 2022.

Despite Germany’s strict rules on borrowing, Scholz pushed through a

jeepney and transport workers belonging to different federations, subcontracted non-corporate construction workers advocating for occupational safety and health in the work place, street vendors who have their own territorial associations asserting their right to security in the workplace, and so on.

There is no law prohibiting informal workers to form their own organizations for self-defense and promotion of their collective/sectoral interests. The problem is that many encounter problems in forming organizations and in pursuing their respective advocacy programs. The problems are very basic such as how to register their organization as legal entities and how to be accepted as development partners of LGUs, government line agencies and so on. Unlike the regular workers who have Books 3-4-5-6 of the Code to support them, the informals do not have supportive laws to back up their associations.

This is one reason why informal worker advocates cannot understand why Congress has failed to act on the proposed Magna Carta for Workers in the Informal Economy (MACWIE). This proposal seeks to extend to the informal workers the equivalent rights given by the Labor Code to the formal workers. MACWIE seeks to give full life to Section 3, Article XIII of the Constitution, which states:

“The State shall afford full protection to labor, local and overseas, organized and unorganized, and promote full employment and equality of employment opportunities FOR ALL.

“It shall guarantee the RIGHTS OF ALL WORKERS to self-organization, collective bargaining and negotiations, and peaceful concerted activities…They shall also participate in POLICY AND DECISION-MAKING PROCESSES affecting the rights and benefits as may be provided by law.” (underscoring supplied).

Dr. Rene E. Ofreneo is a Professor Emeritus of the University of the Philippines. For comments, please write to reneofreneo@ gmail.com.

debt-financed special fund to modernize the Bundeswehr armed forces worth €100 billion ($108 billion). It helped Germany lift defense spending above 2 percent of economic output as pledged by Nato allies. In addition to the permanent stationing of a brigade in Lithuania, Germany is strengthening Nato’s eastern flank with the ongoing air-policing mission over the Baltic nations and a Germanled Enhanced Forward Presence battlegroup.

“Germany is investing massively in the expansion of its defense capabilities,” Scholz told reporters. “This is linked to the decision that investment in the Bundeswehr will account for 2 percent of our economic output in the long term, year after year. That has been achieved this year and will not change again.” With assistance from Milda Seputyte, Aaron Eglitis and Ott Tammik /Bloomberg

Oil rises with Mideast tension to the fore as truce talks falter

By Yongchang Chin

OIL advanced for a second day on tensions in the Middle East, with Israel rejecting a cease-fire proposal for the Gaza Strip, and a risk-on mood that helped lift wider financial markets.

Global benchmark Brent pared an earlier advance but was still pushing toward $84 a barrel, after closing 0.5 percent higher on Monday. West Texas Intermediate was near $79. Israel’s war cabinet unanimously rejected a cease-fire proposal agreed to by Hamas. The Jewish state has vowed to continue

military operations in Rafah, a major Gazan city.

Crude’s advance came as Asian stocks pushed higher on Tuesday on optimism the Federal Reserve will start cutting interest rates this year. Lower US borrowing costs should be a plus for the nation’s energy demand.

Oil is clawing back some ground after posting its worst weekly drop since February. Prices remain higher year-to-date as Opec+ production cuts have tightened the market.

Global benchmark Brent pared an earlier advance but was still pushing toward $84 a barrel, after closing 0.5 percent higher on Monday. West Texas Intermediate was near $79. Israel’s war cabinet unanimously rejected a cease-fire proposal agreed to by Hamas. The Jewish state has vowed to continue military operations in Rafah, a major Gazan city.

While the cartel is expected to keep supplies tight, the demand outlook is clouded, with diesel flashing signs of weakness. “Geopolitics is back in the driv-

ing seat for crude oil traders after last week’s drop,” said Charu Chanana, an analyst at Saxo Capital Markets Pte in Singapore. “The demand outlook remains supported by expectations of Fed’s rate cuts, and focus today will be on the EIA outlook report.”

The Energy Information Administration is due to release its ShortTerm Energy Outlook later Tuesday, offering clues on market dynamics, including the pace of US oil supply and prospects for further growth.

Nationwide output recently hit a record above 13 million barrels a day. Bloomberg

Bill allowing intervention of NFA in rice market gets nod

By Jovee Marie N. dela Cruz @joveemarie

THE House Committee on Agriculture and Food and the House Committee on Ways and Means approved on Tuesday a proposal that seeks to reinstate the price stabilization and supply regulation functions of the National Food Authority (NFA) and increase the Rice Competitiveness Enhancement Fund (RCEF).

The move came a day after President Ferdinand Marcos Jr. declared the proposed amendments to the Rice Tariffication Law (RTL) as urgent.

House Committee on Agriculture and Food Chairman Mark Enverga said the approved substitute bill amending Republic Act (RA) 11203 reflects “extensive committee deliberations,” focusing on crucial aspects of rice buffer stock maintenance and addressing supply deficits.

Key provisions of the substitute bill include empowering the NFA to purchase local milled rice as needed to fulfill its mandate of maintaining the rice buffer stock, said Enverga.

He said this move underscores the government’s commitment to supporting local rice produc -

ers and ensuring sufficient rice supply within the country.

Moreover, Enverga said that in cases where local supply falls short of meeting the minimum buffer stock requirements, the NFA will have the option to purchase a certain percentage of rice brought in by accredited importers.

He said this provision aims to supplement domestic supply with imported rice, thereby stabilizing the rice market and mitigating potential shortages.

As a final resort, the NFA will be granted the authority to directly import rice, subject to explicit authorization from the President of the Republic. This authority will be invoked only under “exceptional circumstances” where domestic supply deficits necessitate

immediate action to stabilize the national rice supply and maintain optimal buffer stocks.

Additionally, the bill grants temporary powers to the NFA to address extraordinary increases in the price or acute shortages in rice supply.

This provision, Enverga said, empowers the NFA to take swift and decisive measures to safeguard the interests of consumers and ensure food security in times of crisis.

Bigger RCEF

MEANWHILE , the bill will also increase the RCEF to P15 billion from the current allocation of P10 billion.

The proposed fund allocation will now designate 53.5 percent for farm mechanization components, 28 percent for seed components, 5 percent for training, 6 percent for rice credit assistance, 4 percent for soil, 2 percent for pest management, and 1.5 percent for the Project Management Office (PMO).

Nueva Ecija Rep. Mikaela Angela Suansing, one of the bill’s authors, said the government expects to collect some P29 billion in tariffs from rice imports annually.

Tariff revenues in excess of P15 billion should be allocated to certain agriculture programs, lawmakers said.

For his part, House Committee on Ways and Means Chairman Joey Sarte Salceda said his committee also approved the tariffication provision of the bill with amendments.

One of Salceda’s approved amendments states that “the Department of Finance, the Bureau of Customs, and the Department of Budget and Management shall submit to COCAFM [Congressional Oversight Committee on Agricultural and Fisheries Modernization] an annual report on the tariffs collected from rice imports and the amount appropriated to the rice fund not later than 30 days from the end of the fiscal year covered by the report.

The Bureau of the Treasury shall certify the availability of funds from tariff collections from rice imports not later than 30 days from the end of each fiscal year.”

Salceda also wants to grant NFA powers to regulate investment in the rice and corn industries.

The bill will now be transmitted to the House Committee on Appropriations for deliberations on its revenue provision.

Speaker Ferdinand Martin Romualdez announced that the lower chamber will give top priority to the approval of amendments to the RTL before the legislative break on May 24.

GOVT MULLS OVER BOND OFFER TO BANKROLL WATER PROJECTS

PBy Samuel P. Medenilla @sam_medenilla

RESIDENT Ferdinand R. Marcos

Jr. has ordered concerned government agencies to study the feasibility of tapping the local debt market to finance water infrastructure projects.

The chief executive gave the instruction after hearing the proposal from the Department of Environment of Natural Resources (DENR) which discussed alternative sources of funds for its water-related projects in a sectoral meeting in Malacañang last Tuesday.

“Currently, the modalities of financing [projects] are through PPP [Public Private Partnerships] or loans,” DENR Undersecretary Carlos Primo C. David said in a press briefing in Malacañang last Tuesday.

“Government bonds are meant to fund priority government projects. This is another source of funding other than of course obviously our GAA [General Appropriations Act],” he added.

David said they were directed by the President to consult the World Bank and the Asian Development Bank (ADB) to develop the mechanism for the bond issuance.

He said they are also still determining the total amount of funds they will raise through the proposed bond offer.

“I still have no idea [of the amount]. But per several priority projects that we have in mind, and there’s a number for that, and that is what we intend to reach,” David said.

Last January, DENR estimated the

government will need P250 billion to enable 40 million Filipinos to have access to clean water.

The Presidential Communications Office (PCO) said the government is targeting to invest P119 billion annually to achieve its goal of providing universal access to safe water supply and sanitation services by 2030. However, in the last five years, government investment in water infrastructure projects averaged only P6 billion per year.

Desalination plants

THE government is looking at deploying modular desalination plants and starting the construction of water impounding facilities for 40 million Filipinos who do not have access to clean water.

During a sectoral meeting last Tuesday, Marcos ordered the concerned government agencies to prioritize providing formal water supply to the underserved Filipinos.

The undeserved Filipinos only access water from springs, from creeks, and even rainwater for drinking water purposes.

“Let’s come up with a plan for the 40 million so that they have at least potable water to take in. We need to attend as much as we can, come up with a plan with the remaining 40 million who do not have an assured water supply—locally sourced water supply,” Marcos said.

He made the remark as El Niñoinduced droughts and dry spell, which are expected to last until mid-year, has left many Filipinos struggling to have access to clean water.

Editor: Jennifer A. Ng

B1 Wednesday, May 8, 2024

High sales boost Petron’s income

PETRON Corp. announced it ended the first quarter with a net income of P3.93 billion, a 16-percent increase from P3.4 billion posted in the same period last year, as the country’s lone oil refiner saw growth across all business segments.

Right-of-way issues prompt coal-plant build cancellation

By Lenie Lectura @llectura

CONSUNJI-led Semirara Mining and Power Corp. (SMPC) has temporarily shelved earlier plans to develop a 700-megawatt (MW) coalfired power plant, via its non-operating subsidiary St. Raphael Power Generation Corp. (SRPGC), citing transmission constraints brought about by rightof-way (ROW) issues.

“We remain interested in pursuing the SRPGC but due to the legal challenges NGCP (National Grid Corporation of the Philippines) is facing from property owners of rightof-way issues, we do not anticipate moving forward with this initiative anytime soon,” said SMPC President

Maria Cristina Gotianun.

Transmission lines are vital to the successful operation of power plants. In this case, the needed transmission lines will connect the planned power plant and allow its full dispatch.

ROW issues remain one of the stumbling blocks to on-time project completion of NGCP.

SMPC’s power units are house under SEM-Calaca Power Corp. (SCPC) , which owns the 2×300-MW Calaca coal-fired power plant in Batangas, and Southwest Luzon Power Generation Corp. (SLPGC), which operates the 2×150-MW coal power facility also in the same area. Gotianun said SCPC Unit 2 is expected to operate at its full capacity of 300 megawatts (MW) in the second half of the year. Last year, the plant was operating at an average capacity of 175 MW. SMPC announced last year it was

considering an investment in LNG (liquefied natural gas) as possible energy sources. When asked for an update on its LNG plans, Gotianun said there are ongoing studies on its viability.

“Regarding the potential LNG project, we are conducting ongoing studies to assess its viability, capital requirements and the price volatility of natural gas,” she said.

Gotianum said 2024 is expected to be a pivotal period for the company.

“We anticipate strong performance from the power segment, potentially offsetting anticipated weakness in the coal business due to unfavorable market conditions,” she said.

SMPC is the country’s largest domestic coal producer. It supplies affordable fuel to power plants, cement factories and other industrial facilities across the Philippines.

Foreign investors keen on SPNEC firm

TERRA Solar Philippines Inc. will take in up to two foreign investors to help finance its solar farm in Nueva Ecija and Bulacan with 3,500 megawatts (MW) of solar panels and 4,000 megawatt-hours (MWh) of batter energy storage.

According to SP New Energy Corp. (SPNEC) Chairman Manuel V. Pangilinan, his group is talking to five interested firms. SPNEC owns Terra Solar. “About five expressed interest.

STONEBRIDGE Corp., a company chaired by Gizela Gonzalez-Montinola, has bought 250 million shares, or approximately 9 percent of sugar firm Roxas and Co. Inc., for P500 million.

In its disclosure to the Philippine Stock Exchange, the shares were bought for P2 per share.

The Montinola investment is at a 47 percent discount to P3.75 per share, the closing price of May 6. Based on this, the discounted share sale has netted Montinola a P437.5 million in gains.

This makes the Montinola family the third largest group of shareholders in Roxas and Co. after the founding Roxas-Elizalde families and solar entrepreneur Leandro Leviste.

“The acquisition of the securities of RCI will allow Stonebridge to increase its presence in the real estate sector,” the company said in its disclosure to the Philippine Stock Exchange.

Montinola is the wife of Aurelio Montinola, an independent director of RCI, and a member of the company’s executive committee, related party transactions commit-

All foreign. Some are pure equity investors,” said Pangilinan. However, SPNEC will only take in “one or two, at most two.” Pangilinan announced last March that SPNEC is planning to sell up to 40 percent of the equity in Terra Solar to help build the P200billion solar project.

The discussions are ongoing but Pangilinan said the transaction is being eyed to be finalized “within the year.” SPNEC has started pre-construc-

tee, nomination, election and governance committee and audit and risk Committee.

In such capacity, Montinola’s fiduciary duty is to protect the interest of minority shareholders. No disclosure was made as to whether Montinola was involved in the investment by Stonebridge.

The company has sold a total of 767.5 million treasury shares to date, as part of the company’s fundraising program, including a sale of 75 million shares at P0.69 per share on March 7, 75 million shares at P0.65 per share on February 20 and 66.9 million shares at P0.44 per share on January 17.

Based on the company’s latest financial statements, it has P1.5 billion of current liabilities in excess of current assets, with the largest portion of unpaid loans due to the Bank of the Philippine Islands, where Aurelio Montinola is also an independent director. Stonebridge’s primary purpose is to hold, improve, promote, develop, subdivide and manage real estate of all kinds owned, held, or occupied by Stonebridge or belonging to them. VG Cabuag

tion works, ahead of the construction of the project’s interconnection facilities with the National Grid Corporation of the Philippines (NGCP) and the installation of over five million solar panels to meet its construction timeline.

“We have the transmission facilities. I think that’s been agreed with NGCP. So, we have to acquire the land that’s about 15 kilometers from the site. Then, the supply chain is some -

thing we are concerned about. I think not so much on the solar panels.

The pricing appears to be less declined. But we are feeling that the batteries could be problematic. So, we have to face that issue sooner rather than later. As we get more involved in the project, we are getting to see the complexities flow from the execution of the project on this scale,” Pangilinan said earlier.

Consolidated revenues for the first three months reached P227.64 billion, up 21 percent from the previous year’s P188.75 billion, owing to its strong volume growth.

Petron’s Philippine and Malaysian operations recorded a sales volume of 35.29 million barrels, 23-percent higher than 2023’s 28.59 million barrels. The sales volume growth was supported by higher production at Petron’s refinery in Bataan and Port Dickson.

Consolidated retail sales also improved by 11 percent while commercial volumes similarly rose 11 percent mainly on the substantial jump in jet fuel and LPG (liquefied petroleum gas) sales. Export volumes also grew considerably by over 90 percent from the additional export volumes resulting from higher refinery production.

Sales volume in its Philippine op -

erations, which includes the trading volume of the company’s subsidiary in Singapore, recorded a 28 percent growth to 22.72 million barrels from 17.7 million barrels in 2023. Operating income similarly stood strong at P10.17 billion, a 21 percent improvement from last year’s P8.42 billion.

Meanwhile, the international oil market continued to be affected by the escalating geopolitical conflicts in the Middle East. After declining by 17 percent in the last quarter of 2023 to close at $77 per barrel in December, the price of benchmark Dubai crude climbed 9 percent to US$84 per barrel by March this year. However, first quarter 2024 prices remained almost flat compared to the same period last year.

“We have been strengthening our recovery and growth following the pandemic, thanks to our efficiency measures, volume strategy, and sustainability agenda,” said Petron President Ramon S. Ang. “We are pleased to start the new year on a strong note, and we hope to sustain this momentum as we work towards new goals this 2024.” Lenie Lectura

BanKo wins 2024 Change Maker Award for Most Innovative Bank for MSMEs

BPI Direct BanKo Inc., A Savings Bank (BanKo), the microfinance arm of the Bank of the Philippine Islands (BPI), won the prestigious 2024 Change Maker Award for Most Innovative Bank for Micro, Small, and Medium Enterprises (MSMEs) at this year’s Universal Achievement Awards (UAA).

UAA is an annual recognition program of Project HoPE (Honest o pportunities for Philippine Entrepreneurs), a non-government organization providing free livelihood and financial literacy programs to its 80,000 MSME members nationwide, aimed at honoring individuals, corporations, and organizations that made a positive impact in the communities where they operate in.

BanKo was awarded for its continuing commitment to advancing financial inclusion as part of its broader initiative to fuel the growth and development of the MSME sector.

The bank ranked first among the 13 MSME loan providers shortlisted for the award. It garnered a positive rating of 89 percent on a survey conducted by UAA and Project HoPE from March 2023 to February 2024. It was also cited as being the friendliest microfinance bank for having the fewest requirements, fastest turnaround time, friendliest collectors, most reasonable interest rates, and best savings programs.

BanKo President rod Mabiasen Jr. attributed the win to BanKo’s proactive digitalization efforts and new products introduced in 2023.

These initiatives have streamlined banking experiences at branches and expanded innovative services to a larger base of MSME clients, especially self-employed microentrepreneurs seeking funding for their operations and business expansion.

“It’s truly an honor to be recognized as a Change Maker. Since the founding of BanKo, we have always worked hard to champion microentrepreneurs and and ensure inclusive and sustainable growth for them through our innovative, accessible, and affordable products, ” said Mabiasen. “As a trusted financial partner of Filipino MSMEs, we promise to continue to be maaasahan, malalapitan, at nagtitiwala sa kakayahan nilang umasenso.” In 2023, Banko released P14.96 billion of business loans to over 200,000 borrowing clients.

Complemented by its digitalization efforts, this achievement was reached through BanKo’s product development and product improvement initiatives, which resulted in the introduction of its stepped-up NegosyoKo Loan offerings, through which MSME clients can now loan up to P500,000 without collateral, and the new InstaCashKo Credit Line.

In 2023, BanKo opened 26 new branch-lite units in different locations across the country, bringing the total number of branches and BLUs to 346. The bank operates in 77 out of 82 provinces, with branches in 125 cities, serving as the sole representative of BPI in 152 of these areas.

New 6-yr blueprint for MSMEs hikes SBCorp financial muscle

By Andrea E. San Juan

THE new six-year blueprint for the country’s micro, small, and medium enterprises (MSMEs) is seen to increase the capacity of Small Business Corp.’s (SBCorp.) to provide financial assistance to Filipino small merchants, among others, according to the Department of Trade and Industry (DTI).

In a move to boost economic growth and innovation, Trade and Industry Secretary Alfredo E. Pascual presented the MSME Development Plan 2023-2028 at a sectoral meeting in Malacañang last week.

DTI said Pascual proposed financial measures critical to the plan’s success, among others, are embodied in the roadmap.

Among the key features of the Plan is the “substantial” increase in the capitalization of the Small Business Corporation, enhancing its capacity to provide loans and financial assistance to MSMEs.

SBCorp. is a government financial institution attached to the DTI. It is

mandated to engage in development initiatives in finance and business technologies for MSMEs.

“The plan also advocates for the institutionalization of funding support for micro-enterprises through the Pondo Para Sa Pagbabago program and the initiation of purchase order financing to help MSMEs manage cash flow and fulfill larger orders,” DTI said. Additional financial strategies are underpinned by artificial intelligence (AI)-powered financial platforms that ensure more accessible and efficient financial services for MSMEs, the DTI said.

Apart from financial strategies, DTI said the new MSME Develop -

ment Plan includes the institutionalization of Shared Services Facilities and the creation of Business Starter Support Programs.

“These initiatives are designed to reduce operational costs and eliminate barriers for new entrepreneurs, respectively,” the Trade department noted.

Highlighting the role of technology, the plan incorporates AI-driven tools such as Machine Learningbased Credit Scoring Model that “significantly expedites” the loan approval process for microenterprises.

“The newly unveiled plan represents the fourth iteration of the national MSME strategy, which continues a legacy of structured economic support through the integration of contemporary digital solutions,” DTI said.

Under the direction of President Ferdinand Marcos Jr., DTI said it has been tasked with “embedding” artificial intelligence (AI) and digital technologies in the plan to fortify MSME capabilities, helping them comply with and excel within the rapidly evolving technological landscape.

“The new MSME Development Plan is more than a policy document; it is a blueprint for the future, ensuring that our enterprises are competitive, innovative, and resilient,” said Pascual.

“By focusing on digitalization, we are preparing our MSMEs to

meet the challenges of the modern economy and ensuring they continue to be a critical driver of our nation’s growth,” the Trade chief added as he noted the “pivotal” role of MSMEs in the Philippine economy, where they constitute 99.59 percent of all businesses and provide 65.1 percent of total employment.

Further, DTI said the plan establishes a “forward-thinking” framework that not only meets the immediate needs of MSMEs but also propels them to the forefront of the digital economy.

DTI noted that the President himself underscored that the blueprint for MSMEs will “equip” businesses with the necessary tools for digitalization and AI, which will further bolster sectors that drive over 65 percent of jobs.

“The President also stressed that introducing MSMEs to AI systems aims to streamline business processes, ensuring the ease of doing business in their operations,” the Trade department said.

According to DTI, the successful implementation of this plan is expected to increase the number of registered MSMEs, enhance job creation, and improve overall contribution of MSMEs to the Philippine economy, aligned with the broader goals of the Philippine Development Plan and the Asean Strategic Action Plan for SME Development.

At 74, piano tuner isn’t stopping with his craft

By Bernard Testa

THEY call him the Piano Man. We spotted 74-yearold Edgardo M. Arceo tuning a Yamaha grand piano at the lobby of Luxent Hotel in Quezon City recently.

He told Businessmirror that he started tuning pianos since he was 10 years old.

Having learned it from his uncle, he uses his ear to start with a note A on 440 pitch.

He doesn’t want to stop even if his children want him to.

He shuns the want battery-operated tuner and relies mostly on his hearing. ouido is his best teacher, he asserts.

According to him, Steinway pianos are the best pianos in terms of sound and quality.

on request to play something, he played the Constancio De Guzman composition “Ang Tangi Kong Pag-ibig.” He says it’s his favorite, which he dedicates to his mother. “Dito nako mamamatay [This is where I’ll die],” he sighs, barely disguising his passion.

Farmer groups from 4 Batangas towns get carrageenan materials from DOST

FoUr farmer associations from the Municipalities of Nasugbu, Laurel, and Lobo, Batangas, recently received carrageenan plant growth promoter (PGP) and knapsack sprayers from the Department of Science and Technology-Calabarzon through DoST-Batangas as support for their rice production aimed at enhancing crop yield and disease resistance.

Carrageenan PGP, derived from red seaweeds and processed via gamma irradiation, is a recognized plant growth enhancer. It is registered as an inorganic fertilizer by the Fertilizer and Pesticide Authority, with manufacturing licensed to the DoST Philippine Nuclear research Institute (DoST-PNr I).

A total of 198 liters of Carrageenan PGP, good for two cropping seasons, were distributed among four associations. The beneficiary farmer associations included the Looc Farmers’ Association and Samahang Magsasaka ng Brgy. Calayo from Nasugbu, Batangas; Laurel Municipal Federation of Farmers Association Inc. from Laurel, Batangas; and Fabrica-Poblacion Irrigators Association from Lobo, Batangas. The activity was spearheaded by DoST-Batangas Provincial Director, Ms. Felina C. Malabanan, alongside Batangas Provincial Agriculturist, Dr. rodrigo Bautista, as well as Municipal Agriculturists and representatives from the concerned municipalities. A ceremonial signing of a Memorandum of Agreement formalized the technology transfer. Additionally, a training session on the science and application of carrageenan PGP was conducted during the activity, to capacitate the farmer associations on the use

of carrageenan PGP to improve rice growth and induce rice defense mechanisms in their rice fields. The training session covered various aspects of carrageenan, including its composition, nutrient types, components of carrageenan PGP, benefits, research outcomes regarding its application, and scientific application methods. Eduardo C. David, the research technician of VVZ Corporation, a licensed technology adopter of DoST-PNr I’s Carrageenan PGP, and Mr. Aaron S. Carandang, DoST-Calabarzon staff, facilitated the training.

For years, I’ve witnessed numerous sales leaders across industries riding on the bandwagon of s, as if it’s a magic pill that will propel people to succeed. Well, they’re not exactly wrong, because discovering one’s deepest why can activate grit that would enable the individual to persevere towards success. The only problem was that most sales leaders took the concept of deepest whys in a shallow context. It is indeed a powerful tool. But to effectively use it, you need to dig deeper before the real deepest whys of people will eventually emerge. So, here are some tips in discovering the real deepest whys.

Understand what they truly value the most T HE first step is to understand what your team members truly value the most. The best way to do this is through a one-on-one discussion. Invest time with your people. You don’t have to do this with every member of your team. For starters, just focus on your inner circle. When you ask this question— “what do you value most in life?,” be serious about it, and avoid telling jokes. And please make sure that you are focused on your team members, and that you are ready to listen and not make judgments of any sort.

Validate the response

IN my experience, most of the initial responses are motherhood statements and general concerns like family, income, faith, trust, and the likes. It’s not a wrong answer, but this is still a mere scratch on the surface. Validate and dig deeper. For instance, if the initial response is “family,” ask about which aspect of family life is he/she referring to. Then proceed to ask why he/she value that the most. You will begin to notice the emergence of a deeper area of value. Don’t stop yet. Validate further by asking—“how would you feel if you’re not able to take care of this?”

At this juncture, once emotions are triggered, then you know that this is indeed what they value the most.

Know that what they value the most is connected with their deepest why oNCE you discover what the individual

truly value the most, then you are also able to unearth that person’s deepest why. Because an individual’s deepest why to succeed is all about making sure that he/she is able to take care of what he/she values the most in life— this is the real deepest why only then is grit activated.

It’s going to be a life-changing discussion

YoU ’ LL definitely make an impact as a sales leader once you help unearth your team members’ deepest whys. The word “impact” refers to a lasting change in a person’s life as a result of your encounter with the individual. Whether the changes are huge or small, does not really matter. The important thing is that you were able to accomplish your mission as sales leader of leading others toward life-changing journeys.

Editor: Vittorio V. Vitug

ElizabEth arocEna (leftmost), owner of laza Meat Stall in camiling, tarlac, expresses her deep gratitude to banKo for the assistance provided by the negosyoKo loan in growing her business.

thE farmer beneficiary group members from four batangas towns are seen with the materials they got from DoSt-calabarzon after their training. PHOTO FROM DOST-CALABARZON

Editor: Dennis D. Estopace

BTr raises ₧30B via T-bonds sale as global oil prices, tensions ease

By Reine Juvierre Alberto

THE national government bor-

rowed P30 billion in the domestic market through the sale of reissued 10-year Treasury bonds (T-bonds) as investors’ asking yields eased, lower than the benchmark secondary market’s rates.

The Bureau of the Treasury (BTr) fully awarded the long-tenor debt papers on Tuesday’s auction.

With a remaining life of nine years and eight months to maturity, the T-bonds’ average yield settled at 6.825 percent.

THE Department of Finance (DOF) has obtained backing from the OPEC Fund for International Development (OPEC Fund) to address right-of-way acquisition issues in big-ticket infrastructure projects.

Through a statement it issued last Tuesday, the DOF said it secured technical assistance from the OPEC Fund to support the “smooth” implementation of the Marcos administration’s infrastructure projects.

The Finance department referred to the conversation between DOF International Finance Group (IFG) Undersecretary Joven Z. Balbosa with OPEC Fund for International Development Presi -

THE Guagua Rural Bank Inc. (GRBank), in celebrating 70 years of remarkable banking, epitomizes resilience and enduring excellence. Through decades of economic shifts and challenges, it has remained a steadfast pillar in the financial landscape, a testament to its unwavering strength and commitment.

Weathering every season, GRBank has not merely survived but thrived, navigating turbulent waters with poise and purpose.

Central to its enduring legacy are the visionary stewardship of its Board of Directors and the unwavering dedication of its Executive Committee headed by the President and CEO, Jose Antonio Blas L. Carlos, the Chief Operating Officer & Senior Executive Vice President, Ms. Elizabeth CarlosTimbol and the Senior Vice President, Ms. Grace Carlos- Glorioso. Together, they have upheld the founding principles of prudence

This is lower than the 6.91 percent comparable PHP BVAL yield on May 6, 2024, but still higher than the previous 10-year T-bonds average auction yield of 6.439 percent nearly a month ago. Data from the Treasury showed

dent Abdulhamid Alkhalifa on the sidelines of last month’s World Bank-International Monetary Fund (WB-IMF) Spring Meetings in Washington, D.C. According to the DOF, the OPEC Fund is interested in co-financing, together with the Asian Development Bank (ADB), the Public Financial Management Reform Program (PFMRP) Subprogram 1. The DOF said the PFMRP is aligned with the strategic pillar of increasing infrastructure and long-term investments in ADB’s country partnership strategy for the Philippines for 2018-2023.

The DOF explained that PFMRP Subprogram 1 is in line with the Paris Agreement targets since it will

that offers made by investors for the yield ranged from a low of 6.750 percent to a high of 6.850 percent.

Tuesday’s auction was 2.4 times oversubscribed than the total offering of P30 billion, with total bids reaching P71.240 billion.

“With its decision, the committee raised the full program of P30.0 billion, bringing the total outstanding volume for the series to P115.6 billion,” the Treasury said in a statement.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the T-bonds yield eased after global crude oil declined to new 1.5-month lows as tensions between Israel and Iran subsided since April 20.

Ricafort also noted the decline of the benchmark 10-year US Treasury yield at 4.74 percent and the easing of the US dollar and peso to new twoweek lows at P57.20 levels.

establish a public financial management (PFM) system conducive to catalyzing climate finance through public-private partnerships (PPPs) and enhancing climate resilience and readiness among local government units (LGUs).

Both parties also discussed how critical it is to implement the Framework Agreement of the Establishment of Private Sector Operations to enable the OPEC Fund to collaborate and conduct business with private sector institutions crucial in supporting small and medium-sized enterprises.

For the OPEC Fund’s part, it assured the DOF of supporting the country’s needs, particularly in its transition to an upper-middle in-

and integrity, anchoring the bank’s operations in a steadfast commitment to ethical conduct and sustainable growth.

Beyond mere financial success, GRBank has established itself as a force for positive change, particularly in rural development. Its steadfast dedication to fostering economic empowerment and financial inclusion in underserved communities underscores its broader mission as a catalyst for societal progress.

As the country’s sixth-largest rural bank in terms of assets marks seven decades of existence, its vision extends far beyond mere longevity. It aspires to transcend the conventional notion of a bank, striving to be a beacon of value and trust in an ever-evolving financial landscape. Each milestone achieved is a testament to the enduring power of its core values, propelling it forward with unwavering strength and stability.

LandBank remits ₧32 billion in cash dividends to BTr

STATE-RUN Land Bank of the Philippines (LandBank) announced it remitted about P32.119 billion in cash dividends to the national treasury on account of its robust net income and year-end capital in 2023. LandBank was recognized as the top government-owned and -controlled corporation (GOOC) that contributed more than P1 billion to the national treasury during the GOCC’s Day at the Philippine International Convention Center (PICC) last Monday.

“The solid performance of Landbank in 2023 yielded a record-breaking dividend contribution, which will significantly support our people’s growing needs and further stimulate the country’s economic growth,” Finance Secretary and Landbank Chairman Ralph G. Recto said on May 6. The bank pinned its financial position to its highest dividend remitted, particularly its net income of P40.3 billion in 2023 and yearend capital of P266.8 billion.

“LandBank’s unprecedented contribution to the government’s coffers underscores our

unwavering commitment to nation-building. We look forward to further advancing the country’s growth trajectory by providing ample funding for priority infrastructure projects and socioeconomic programs,” LandBank President and CEO Lynette V. Ortiz stated. Meanwhile, LandBank announced that its net income from January to March reached P12 billion, higher by 11 percent year-onyear from P10.8 billion in 2023. It surpassed its P11.3 billion target for the period by 6 percent due to its increased interest income from loans.

The state-run bank’s total assets also rose by 5 percent to P3.3 trillion on the back of its loan expansion. Increases in government and private deposits caused LandBank’s deposit base to inch up by 4 percent to P2.9 trillion. Lastly, the bank’s gross loan portfolio increased by 25 percent to P1.5 trillion due to the growth in treasury and commercial loans, primarily channeled towards agribusiness, energy, affordable mass housing, and infrastructure projects. Reine Juvierre Alberto

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said last Monday there is still a “leeway” for the central bank to sustain key policy rates.

However, if inflation relaxed to 3 percent consecutively in the coming months and within the target “comfortably,” Remolona said the Monetary Board would have room to cut interest rates by 25 basis points (bps).

Inflation in the Philippines in April hit 3.8 percent, lower than the 6.6 percent recorded in the same month last year. To note, the government targets inflation to range this year at a low of 2 percent to a high of 4 percent.

For the month of May, the Treasury aims to raise P150 billion from the sale of Treasury bonds. It is also targeting to raise as much as P60 billion from the sale of T-bills, with the combined sale totaling P210 billion.

come economy.

The Vienna, Austria-headquartered OPEC Fund is the only globally-mandated development institution that provides financing from member countries to non-member countries, the DOF said.

It collaborates with developing country partners and the international development community to promote economic growth and social advancement in low- and middleincome countries worldwide, the DOF added.

The OPEC Fund granted $500,000 (roughly P28.655 million) at current exchange rates) for the implementation last year of the pilot phase of the Philippines’s “food e-voucher” program. Reine Juvierre Alberto

By VG Cabuag @villygc

THE Gotianun-led East West Banking Corp.

(PSE: EW) announced last Tuesday that its income for the first quarter of the year reached P1.7 billion, some 8-percent more than the previous year’s P1.57 billion, on higher consumer lending.

The consistent consumer lending expansion to start the year greatly contributed to a robust return on equity of 10 percent for the period, 52 basis points higher than end-2023.

Net revenues reached P10 billion, up by 28 percent from the same period last year from P7.8 billion, driven by net interest income growth of 34 percent to P8.2 billion.

This growth is largely attributed to the bank’s strategic emphasis on refined consumer lending strategies, which enhanced its lending processes, accounting for 81 percent of total loans and contributing to a net interest margin of 8.1 percent.

Non-interest income was at P1.2 billion, up 8 percent in line with banking transaction growth.

“Our robust start to the year is a clear indicator of the strategic direction we’ve set—to be one of the top consumer banks in the country. By focusing on the needs of our customers, we are not just responding to the market—we’re shaping it. This positions EastWest as a formidable contender in the Philippine banking industry, ready to meet future challenges with agility and confidence,” EW President Jacqueline S. Fernandez said.

THE Bureau of Internal Revenue (BIR) has ordered the attachment of internal revenue stamps on all imported and locally manufactured vape products sold in the market by June 1, 2024, to ensure tax compliance of the vape industry.

Under Revenue Memorandum Circular (RMC) 59-2024, all vape products in the market shall be affixed with the 4th Generation Internal Revenue Stamps prescribed in RMC 41-2024.

It noted that locally manufactured vape products could only be moved from the place of production unless affixed with internal revenue stamps. Meanwhile, imported vape products from the custody of the Bureau of Customs (BOC) can only be released unless attached with the stamps.

The BIR said it imposed the requirement as a way of checking the proper tax compliance of the vape industry.

“Lack of internal revenue stamps on vape products means non-payment of excise taxes. Non-payment of excise taxes will make the vape products subject to seizure by the BIR and will expose the business owner to criminal liability for tax evasion,” read a statement the BIR issued last Tuesday.

The internal revenue stamps are available for ordering through the BIR’s Enhanced Internal Revenue Stamps Integrated System (IRSIS) starting May 8, the agency said.

Based on the circular, the tax stamps amount to P1 per piece for a minimum of 1.650 million pieces per

AThe operating expenses of the country’s 11th-largest bank by total assets rose by 22 percent to P5.8 billion. The opex increase, according to the lender, was driven by manpower and business-related expenses “to expand the bank’s balance sheet as well as investments in technology to allow for a more efficient delivery of services.”

Cost-to-income ratio of the bank improved to 58 percent in line with the industry, despite its predominantly-consumer portfolio.

Total loans and receivables also grew by 19 percent to P306.1 billion largely driven by the growth of consumer loans such as credit cards, auto, personal and salary loans.

Meanwhile, total deposits grew 12 percent to P356.6 billion.

Capital ratios stand at 13.5 percent and 12.7 percent for capital adequacy ratio and common equity tier 1 ratio respectively, well above the regulatory requirements.

“This reflects the bank’s commitment to delivering value to its shareholders and driving continued growth,” EW CEO Jerry G. Ngo said.

“We entered 2024 with strong momentum and a clear focus on enhancing our capabilities to better serve our customers. As we celebrate our 30th anniversary, we are driven by our commitment to exceed our customers’ evolving expectations, uniquely combining the warmth of Eastern hospitality with Western innovation to maintain our leadership in the competitive banking landscape,” Ngo added.

order or P2.50 per piece for a minimum of 165,000 pieces per order. Importers and local manufacturers who violate the mandated tax stamps on vape products will be criminally liable under Section 254 (Attempt to Evade or Defeat Tax) and Section 265 (Offenses Relating to Stamps) of the National Internal Revenue Code of 1997 (Tax Code).

Internal Revenue Commissioner

Romeo D. Lumagui, Jr. was quoted in the statement as saying the BIR warns illicit vape industry players to pay proper taxes. Lumagui also urges them to comply with the internal revenue stamps by June 1.

“The BIR will monitor the internal revenue stamps for the vape industry. If your products do not have any internal revenue stamps by June 1, we will raid your stores and seize the products,” said the BIR chief. Lumagui added that those in possession of the illicit vape products will be held liable not just for administrative penalties that can be multiplied ten times but also criminally liable for tax evasion.

Earlier this year, the BIR raided several warehouses in Manila, Laguna, and Rizal and seized thousands of smuggled vape products with hundreds of millions worth of tax liabilities. The Bureau also won a tax evasion case against the seller of the “Tap Fog”’ vape products with a civil liability of P1.2 billion. The revenue-generating agency also filed tax evasion complaints against four other vape traders in December 2022. Reine Juvierre Alberto

NY rational person would like to have the odds in his favor all the time and the odds of a particular event happening is something that can often be a statistical matter. For example, in flipping a coin and guessing if it will be heads of tails, there is a 50-percent chance it will be heads and a 50-percent chance that it will be tails, after all there are only two possible outcomes. Similarly, the probability of one dice being a particular number from one to six, is one in six or 16.6666 percent per number. How does one apply this to practical use? You can probably determine most likely outcomes in the equities markets by looking at the opinions of analysts on their stock price forecasts. In its simplest form, the question to ask is should one buy, sell or hold the stock. As an example, let us take a look at Tesla (TSLA), where 32 analysts have come up with their recommendations with 7 Buy, 16 Hold and 9 Sell. Obviously, the consensus recommendation is a Hold. The highest analyst price target is $310, average price target is $171.99 and the lowest price forecast is $22.86, to get the weighted average price let us make some simplified assumptions that the 7 Buy analysts forecasted a price of $310, 16 Hold analysts are looking at $171.99 and the 9 Sell analysts are at $22.86. The weighted average price forecast is $160.24. While other factors need to be considered. I would use the $160.24 as a guide or point of indifference where below that price I would consider buying and a price above is a sell opportunity. Of course, analysts can change their minds at any time but it is better than working with nothing. Odds become more stable with more numbers of attempts. As an example, flipping a coin twice will not always result in heads appearing once and tails appearing once as well. It is conceivable that you could flip it ten times and you could get ten heads in a row or ten tails in a row. However, over numerous flips such as 100,000 times you can see that it will be closer to 50/50. Therefore, you should also consider the frequency of the transaction.

Many companies do this kind of promo such as soda companies offering prizes for bottle caps with certain winning numbers or designs. Since the soda company controls how many

bottle caps are the winner, they control the cost of the prizes to be given away. This works the same way with scratch and win games, where the winning numbers are already predetermined. How would you put the odds in your favor? In lotto, perhaps waiting for the jackpot to be really large may improve your risk reward ratio. In other promos where the winning “ticket” is in the product, you increase your chances of winning as the “contest” period comes to a close. There is a logical reason for this, as an example, if a company decided to run the promo contest over a period of six months, it will become meaningless if the grand prize was won on the first day!

Holding period is another consideration in putting the odds in your favor. If you have excess money that you do not need for two years, you can easily buy a 2-year bond and live with the interest until the maturity. On the other hand, it would be catastrophic if you need the funds in 6 months and buy a 2-year bond because the interest yield on the 6-month paper is 3 percent while the 2-year note gives a 3.5-percent interest rate. What do you think happens if during this time the interest rates skyrockets? You will have to sell your note at a loss since the market will adjust for the higher rate by asking for a discount on the face value of the note. Putting the odds in your favor is a matter of knowing what you are doing.

The

and comments of

Finex Free enterprise

George s. Chua

Image BusinessMirror

Overcoming challenges in delegation

DELEGATION is a fundamental skill that can make or break a leader’s ability to drive results effectively within their team. At its core, delegation is entrusting tasks and responsibilities to others while maintaining accountability from team members and taking responsibility for the outcomes. It not only lightens a leader’s workload but also fosters growth, empowerment and efficiency within teams.

Delegation involves transferring authority to another person to complete a specific task or project. It is not merely assigning tasks randomly but strategically aligning responsibilities with the skills, capabilities, and development needs of team members. Effective delegation requires clarity in communication, setting clear objectives, providing necessary resources, and defining accountability. When tasks and projects are delegated effectively, leaders can focus on high-priority activities that require their expertise which will ultimately boost their team’s overall productivity. They can take the time to plan activities and manage their team’s workload effectively. Delegation also provides team members with opportunities to learn new skills, gain experience, and grow professionally through a culture of continuous learning. When employees are entrusted with meaningful responsibilities, it enhances their sense of ownership and motivation because they feel valued and empowered to contribute to the team’s success.

Delegation, while necessary, can present challenges especially for new leaders or in fast-paced environments. Managers may hesitate to delegate, fearing a loss of control or quality. Some managers cannot provide clear instructions or expectations which can lead to misunderstandings and dismal outcomes.

On the part of team members, insufficient resources or guidance can hinder their ability to succeed. Additionally, leaders may fall into the trap of micromanagement, eroding team confidence and motivation by excessively monitoring delegated tasks. To overcome these challenges, here are some tips to effectively delegate: n Know your team members. Before delegating tasks, assess your team members' strengths, skills and areas for improvement. To match tasks effectively, understand their capabilities and interests and consider each individual's workload and current commitments to ensure a balanced distribution of responsibilities. Match tasks with the appropriate team members based on their skills and experience.

LEGO, Star Wars mark 25th year of partnership

Assign challenging tasks to individuals who are capable of handling them, while also providing growth opportunities for others through less complex assignments. You also need to consider assigning tasks that align with team members' career development goals.

n Provide clear and specific instructions when assigning tasks. Clearly outline the objectives, desired outcomes, deadlines, and any relevant guidelines or constraints. Ensure that the assigned team member understands the importance of the task and how it aligns with broader organizational goals. Part of this is establishing measurable goals and key performance indicators for delegated tasks. Define the expected outcomes and quality standards, and provide clear timelines and checkpoints for monitoring progress. Encourage open communication by allowing team members to ask questions, share updates and raise concerns. Be approachable and supportive to create a collaborative environment.

n Ensure that the delegate has access to the necessary resources, tools, and information required to complete the task successfully. Offer guidance, training, or mentorship if needed. Be available for questions and provide constructive feedback throughout the process. Part of that is allowing team members to make decisions within their delegated tasks. Encourage autonomy and problem-solving to build confidence and foster a sense of ownership and accountability.

n Trust your team members to deliver results. Avoid the temptation to micromanage every detail of delegated tasks. Give them space to work independently and exercise their creativity. Focus on outcomes rather than methods unless specific guidance is required. After delegating tasks, evaluate the outcomes and identify areas for improvement. Reflect on the effectiveness of your delegation approach and adjust strategies as needed. Learn from both successes and challenges to refine your delegation skills over time.

n Lastly, acknowledge and appreciate the efforts of team members who successfully complete delegated tasks. Celebrate achievements and provide constructive feedback for continuous improvement. Recognizing their contributions encourages motivation and reinforces a positive team dynamic.

Mastering the art of delegation takes practice and patience. For leaders to take advantage of the collective skills and talents of their teams, they need to understand that delegation is not just about distributing tasks. It is about enabling growth, building trust, and achieving collective success. Effective delegation is not only a hallmark of strong leadership but also a key driver of organizational excellence. By delegating effectively, leaders can leverage the diverse talents of their teams, promote growth, and drive organizational success while fostering a culture of trust and empowerment. n

The power of touch is vital for both reading and writing

By Naomi S. Baron American University

PAT the Bunny, the 1940 classic touch-and-feel book, is still in print—a testament to the value of touch in introducing infants and toddlers to the world of reading. Later, when children reach school age, a common technique for teaching the alphabet is using hands-on manipulation, such as forming letters out of clay. But as these students get older, the role of touch diminishes—to the students’ detriment. Today’s reading assignments are heavily digital, and use of computer keyboards for writing shows no sign of abating, especially given the lure of AI tools for editing and composing.

I’m a linguist who investigates the differences between print and digital reading and how writing supports thinking. My colleague Anne Mangen and I asked more than 500 secondary students at an international school in Amsterdam about their experiences when reading print versus digital texts. Separately, I surveyed 100 university students and young adults in the US and Europe on their likes and dislikes about handwriting versus typing. Together, their responses demonstrate that adolescents and young adults continue to value touch in their encounters with the written word. The research offers important lessons for educators and parents.

WHAT STUDENTS TELL US IN the studies, students wrote glowingly about touch

when asked for the one thing they liked most about reading in print or writing by hand. What surprised me was how closely their perceptions about the importance of touch aligned in both studies. On a physical level, the feeling of holding a book or writing instrument in their hands mattered to students. These are some of their observations: “You actually feel like you are reading because the book is in your hands,” and “I like feeling the paper and pen under my hands, being able to physically form words.”

Study participants also commented on the interaction of touch and movement. Regarding reading, one wrote about “the feeling of turning each page and anticipating what’s to happen next.” About writing by hand, one participant described “being able to feel the words just glide across the page.”

Many students also mentioned cognitive benefits. A host of respondents wrote about focus, concentration, immersion or memory. Regarding print reading, one student said, “I take it more seriously because it’s physically in my hands.”

For writing, one response was, “I can see what I’m thinking.”

There were also psychological reflections. Students wrote, “The feeling of a book in my hands is a very comfortable feeling,” and “The satisfaction of a whole page filled by handwriting, it feels like I climbed a mountain.” Other comments addressed how touch made students feel more personally connected to the act of reading and writing. About reading, one reflected that “it is more personal ‘cause it’s in your hands.” About handwriting, another declared, “I feel more attached to the content I

MAY the Fourth be with you and all Jedi Knights and Sith Lords who gather and get ready to build the galaxy as the LEGO Certified Store celebrates Star Wars May the 4th Be with You event only in ShangriLa Plaza ongoing until May 11.

The celebration is part of a global extravaganza inviting fans to immerse themselves in the iconic Star Wars universe in time for May the Fourth. It’s also meant to mark LEGO and Star Wars’ 25-year partnership of celebrating the lore and characters of the beloved sci-fi saga, unveiling a cosmic lineup of brick toys including the new iteration of the LEGO Star Wars Ultimate Collector Series TIE Interceptor, a 1,931-piece set that pays homage to the Galactic Empire’s prized starfighter and exemplifies the artistry of LEGO designers with intricately made wings and a detailed cockpit interior.

To further excite fans, LEGO Certified Store is showcasing more amazing Star Wars builds from the Pinoy LEGO User Group (PinoyLUG) and Philippine LEGO Users Group (PHLUG) during a special exhibit at the Grand Atrium. It also features LEGO mosaics of memorable characters such as Darth Vader, Obi-Wan Kenobi, Luke Skywalker and Ahsoka Tano as well as the new generation of Force wielders Kylo Ren and Rey. Get a chance to embrace the dark side too and sit on the throne of the legendary Sith Lord Darth Vader at the exhibit.

Star Wars fans should also check out exclusive offers from Shang’s own LEGO Certified Store on or before May 11. Spend at least P3,000 worth of any LEGO Star Wars set to bring home LEGO Star Wars 25 Years keychain and/or notebook. Buy more LEGO sets along with Star Wars models and reach a single receipt worth P15,000 for more stellar goodies like a free LEGO Star Wars Trade Federation Troop Carrier and LEGO AAT Polybag. Enjoy more LEGO May the Fourth deals with discounts of up to 20 percent on select LEGO Star Wars builds like the Millennium Falcon and R2-D2.

Whether you’re Team Jedi or Team Sith, ignite your lightsaber and be one with the Force for an epic journey to the LEGO Certified Store in Shangri-La Plaza. More information is available at www.facebook. com/shangrilaplazaofficial.

produce.”

A number of respondents wrote that reading physical books and writing by hand somehow felt more “real” than engaging with their digital counterparts. One student commented on “the realness of the book.” Another reported that “it feels more real than writing on a computer, the words seem to have more meaning.”

The studies also asked what participants liked most about digital reading and about writing on a computer keyboard. Out of more than 600 answers, only one mentioned the role of touch in what they liked most about using these technologies for reading and writing. For reading, students praised the convenience and access to the internet. For writing, greater speed as well as internet access were frequent responses.

WHAT SCIENCE TELLS US

WHAT students say about the importance of touch mirrors what researchers have found: Touch is an effective way to build early reading and writing skills, as well as to support how more developed readers and writers interact with the written word.

Psychologists and reading specialists continue to report higher comprehension in children and young adults when reading in print versus digitally, for both academic and leisure reading. For proficient writers, evidence suggests that spending more time writing by hand than using a computer keyboard correlates with better fine motor skills. A recent study in Norway compared brain images of university students taking notes and found that those who wrote by

hand—rather than typing—showed greater electrical connectivity in the parts of the brain that process new information and support memory formation.

STRATEGIES GOING FORWARD

THE challenge for teachers and parents is to figure out how to incorporate touch into literacy activities in a world that’s so reliant on digital tools. Here are three suggestions for addressing this paradox.

n Parents and teachers can begin by listening to students themselves. Despite all their time spent on digital devices, many young people clearly recognize how touch contributes to their reading and writing experiences. Expand the conversation by talking together about differences between digital and handson reading and writing.

n Next, parents can find opportunities for children to read print and write by hand outside of school, such as bringing their kids to the library to check out print books and encouraging them to write a story or keep a journal at home. Better still is when adults model these practices in their own lives.

n Finally, educators need to increase space in the curriculum for print reading and for handwritten assignments. Some teachers are already revisiting the intrinsic benefits of handwriting, including as a memory aid and a vehicle for thinking—both qualities that participants mentioned in my writing survey.

Digital reading materials and keyboards will undoubtedly persist in schools and homes. But this reality must not preclude the power of touch. THE CONVERSATION

PHOTO BY AIRFOCUS ON UNSPLASH

JUANHAND, FEDCENTER ANNOUNCE PARTNERSHIP TO REVOLUTIONIZE FINANCIAL LITERACY IN THE PHL

FEDCENTER , an umbrella association of finance teachers and students known for promoting financial knowledge, and JuanHand, the leading Online Cash Lending Platform in the country, are partnering to launch an app-based education platform meant to increase financial literacy by making it fun, rewarding, and convenient.

JuanHand, with over 24 million downloads and over P21 billion worth of loans disbursed, has become the preferred online

cash lender of the undeserved who are seeking reliable, fair, and quick financial solutions. JuanHand has been instrumental in expanding financial inclusion in the Philippines and now wants to serve the country even more by democratizing Financial Literacy.

FEdCenter aims to assist JuanHand by providing engaging content in the soonto-be-launched financial literacy platform and by promoting its use through their other partners such as the Junior Confed -

eration of Finance Associations—Philippines (JCFAP) and the Finance Educators Association (Fin.Ed). JCFAP and Fin.ED are communities composed of 16,000 individuals from over 160 universities and organizations in the country.

The partnership officially commenced last January 2024, which will revolutionize not only financial literacy in the country but also transform the FinTech landscape across the nation. The Partnership Signing Ceremony was held last April 21, 2024, during the National Finance Summit in Le Pavillon Pasay.

This marks a significant milestone in the history of both companies, as a testament to their dedication to financial literacy and inclusion. Filipinos now have something to look forward to in the coming months: a Financial Literacy platform expected to create a movement that will impact the present and future generations. More to come.

For more information, please visit www. juanhand.com , download the JuanHand app at Google Playstore or iOS Appstore or contact official@fedcenter.org

Start your Green Mom Journey with Baby Company

AS the saying goes, Mothers know best, and that includes knowing what’s best for their little ones as well as for the environment. Going green and sustainable in their motherhood journey is becoming increasingly popular as more mothers are looking for ways to reduce their environmental impact while looking after the welfare and providing for the needs of their children.

If you’re an advocate of sustainability, Baby Company is your best partner as they offer environmentally friendly products from the best and most trusted baby brands to start your journey to becoming a green mom.

Green Baby Essentials

DIAPERS are the most basic need for your baby, and you will need a constant supply of it. Some of the green brands to consider would be Hey Tiger and Rascal & Friends.

Hey Tiger diapers are biodegradable. Its materials are dermatologically tested and have no nasty chemicals, or fragrances. It uses nontoxic, water-based inks only, is chlorine- free and made from sustainably sourced wood fluff pulp.

In addition, Rascal & Friends diapers are made of sustainably sourced and plant-based materials. These diapers are made of super absorbent material, and chlorine free.

Then there’s the Tiny Buds Natural Diaper

Changing Spray for quick and easy diaper changes. The spray contains Organic Aloe Vera, restores pH Balance in diaper changes and is Paraben, SLS and alcohol-free. You should also make sure that you have ecofriendly baby wipes handy not only in your nursery but also when you need to be mobile and on-thego with your baby. Organic Baby Wipes are 100% biodegradable and are infused with aloe vera and other natural ingredients that help prevent diaper rash. It is guaranteed gentle on baby’s skin and safe for the environment.

It’s ‘All About Matcha’ this May

DON’T miss “All About Matcha” at The Westin Manila throughout the month of May 2024. The wellness-forward premium hotel in Ortigas Center puts the spotlight on their Feel Well program, one of their six brand pillars, with a special collaboration with a homegrown brand called Matchanese.

“Our team is passionate about creating mindful options and solutions that will make every stay and dining experience more enjoyable for our guests while also enhancing their well-being,” shares the hotel’s Executive Chef, Rej Casanova.

“Matcha, which is known for its health advantages, is one of the great ways we can add flavor to our lifestyle. Through our collaboration with Matchanese, we aim to provide you with delectable options as well as knowledge and skills about the benefits and uses of Matcha, and how it can boost your mood and make you feel well from within.”

The hotel has lined up a number specials in May, including a Matcha-themed afternoon high tea and blended hot and cold drinks available daily at the Lobby Lounge, as well as an interactive Matcha workshop on May 25, 2024.

Chef Casanova adds, “Our hotel is committed to supporting local artisans and makers. That is why we chose to collaborate with Matchanese, a brand borne out of the pandemic and built by passionate individuals whose purpose is to bring the community together and contribute to their well-being.”

Matchanese was established in 2021 by young

Green Baby Needs FOR your nursing and feeding needs, Green Moms can rely on the Mom & Baby brand for their ecofriendly alternative Silicone Manual Breast Pump and Nursing Pads. The Silicone Breast Pump is made from 100% medical grade silicon material, portable, effective and perfect for on-the-go breastfeeding.

The nursing pads fit comfortably and discreetly into the bra to prevent breastfeeding moms from leaking. They can easily be washed and reused, making it an eco-friendly alternative to disposable breast pads.

A nursery will not be complete without a crib. Consider the Lily & Tucker brand for your little ones. Their Tyler Compact 6-in-1 Convertible Crib is a sustainable and versatile crib crafted from pine wood.

To bring your baby around, a Joolz stroller is a good investment. The Joolz AER + Buggy is made out of 100% recycled polyester. It has reusable packaging too plus they even plant trees for every stroller sold.

If you are looking for a partner who can help you jumpstart your green mom journey, Baby Company is the best place to start.

Baby Company is an SM Retail affiliate that participates in the green retail initiative of SM Store, called SM Green Finds. Customers can have a greener shopping experience with a wide selection of eco-friendly products, made with natural ingredients and support communities.

at The Westin Manila

entrepreneurs Christopher “Toph” David and Bea

Boldo. What began as an online venture has grown into a well-loved brand with a mall post and a strong presence in select food events and pop-ups.

David has always been a foodie since he was young, and an experience with a commercial brand of Matcha drink sparked his curiosity and interest to learn, try, and create different blends.

Bea, on the other hand, delved into learning more about traditional Japanese Matcha after a cultural exchange program. Their shared enthusiasm and interest inspired them to share their knowledge with the community by creating drinks and snacks made from organic Japanese Matcha.

“Our goal is to showcase how Matcha can be more than simply just a flavor; it’s an experience and a lifestyle. It’s a great alternative for coffee, not to mention its health benefits.”

Experience Matcha in different forms and ways

through food and beverage offers and a limitedrun workshop.

The Lobby Lounge will offer a special edition of the Westin High Tea, as well as a new line of drinks made with 100 percent pure and organic matcha that Matchanese imported from Kyoto.

The afternoon high tea, available throughout the month of May, features a selection of sweet and savory Matcha-flavored treats good for two persons and is served with a round of coffee, tea, or Moscato. This will be available daily from 2:30 pm to 5:30 pm. In addition, the Matcha beverage menu will include a traditional latte, plus blended drinks and cocktails.

The workshop scheduled on May 25 is ideal for those interested in learning more about the art of Matcha. Each two-hour session will cover the origins and health benefits of Matcha, different grades and cultivars, Japanese Tea Ceremony, as well as a guided tea tasting and hands-on preparation of Matcha latte. Priced at P3,600 nett per person, this also includes light snacks, a tote bag and handout, as well as a voucher for the hotel’s matcha-themed high tea and blended drink, which is redeemable in May 2024. Register via https://qrco.de/MatchaneseWorkshop. For table reservations and inquiries, e-mail westinmanila@westin.com or call +632.8256.2020. Visit www.westinmanilahotel.com to know more about the hotel. Follow @westinmanilahotel on Facebook and Instagram for new promotions, updates, and announcements.

Herrera puts spotlight on ‘soloistas’ in solo parents advocacy launch

BAGONG

Henerasyon (BH) Partylist

Representative Bernadette Herrera is taking on the next step in her advocacy for the welfare of the Filipino family as the Solon ng Soloista, a representative and champion for solo parents.

During a recent press conference in Quezon City, Herrera shed light on the current situation of Filipino solo parents. The lawmaker pointed out that “there are still significant gaps that the government can fill to help these remarkable individuals carry the substantial load of being sole breadwinners, guardians, and caregivers.”

“For the next chapter of our journey, we want to empower solo parents through active representation, and lead their call for more accessible and valuable programs and benefits— we want to serve them as the Solon ng Soloista,” she added.

To better reflect this new focus, the familiar slogan of BH Partylist, “I-angat ang Pamilya,” was likewise updated to “I-angat and Lahat ng Pamilya,” to symbolize the inclusion and recognition of non-traditional family units, such as the ones headed by solo parents.

“This is the natural evolution of our lifelong mission and advocacy to uplift Filipino families. While the ideal scenario is two parents working together to support, nurture, and guide their children, solo parents, or what we affectionately refer to as soloistas, essentially take on all the roles and responsibilities,” Herrera noted.

Herrera also cited a study showing approximately 15 million single parents in the Philippines, of which 95 percent are female. She underscored that many of these soloistas face discrimination when they try to avail of the benefits provided in the Solo Parent Act.

“Even the simple act of acquiring a Solo Parent ID is confusing and difficult. Some establishments are not even aware that there is a law in place. Our goal is to help lighten the burden of Filipino solo parents, not to give them more bureaucratic difficulties or put them in situations where they need to explain themselves,” the lawmaker underscored.

“Life is already so difficult as it is, imagine how challenging it is to care for, nurture, and raise a family. That’s already the major undertaking for two parents, how more so for soloistas?” said Herrera, “we have a saying: those who have less in life, should have more in law. But why is it that solo parents are being left behind by the government whose very purpose is to help them?”

Through Herrera’s leadership, the BH Partylist lobbied House Resolution No. 1681 which will aid in the implementation of Expanded Solo Parents Welfare Act or Republic Act No. 11861. Due to the amendments of HR No. 1681, the law now broadens the definition of a solo parent and includes the spouse of an Overseas Filipino Worker (OFW) that is living in the Philippines to take care of their children, and also pregnant women without any partners. The amendment also gives priority to solo parents who wish to obtain a work-from-home agreement from their employer, based on the Telecommuting Act, and other such benefits. According to Herrera, we need to expand and give attention to this law so that we can assure there is adequate funding and implementation. Two executives present during the event immediately responded to Herrera’s call to action. Robert Nazal, President of YSA Skin Care Clinic and Rodolfo Medina Junior, Chief Executive Officer of Medical depot, pledged discounts for solo parents.

All YSA Skin Care Clinics will offer a 10 percent discount, according to Nazal, “as a way to show our support and recognition for the soloistas of our community. We want them to know that there are groups like the BH Partylist that truly listen to their woes and are willing to assist them.”

Medical Depot’s Bambang branch will extend the same benefit, “in line with our shared vision to be an instrument of healing and relief, which we gladly offer to soloistas.”

Herrera expressed her gratitude for the “warm and generous response to our Solon ng Soloista advocacy.”

“We hope that this creates a ripple effect that will be magnified by other key stakeholders. Let us show Filipino solo parents that we are backing them up,” Herrera concluded.

Former military man is new president of Eagles group

KUYA Ronald F. Delos Santos, a recipient of the World Summit Excellence Award and a former military man, has been elected the 38th National President of The Fraternal Order of Eagles—Philippine Eagles Inc.

The Fraternal Order of Eagles-Philippine Eagles Inc. prides itself as the first-born fraternal sociocivic organization in the country, with over a million members. “The main goal of the organization is to do humanitarian services, but with our everincreasing membership, we are now expanding our mission, with a special focus on being a steadfast ally of the government,” Delos Santos points out.

“We are doing our best to show our country that we are in an alliance with our government in this new generation, new Republic,” he adds.

“We will be the one to start instilling discipline.

We want to show the entire country that we will start the change,” he said.

Fueled by his zeal for public service, he ran for town mayor in Zambales after an illustrious military career. Apparently, he was meant for a bigger platform. “Tumulong, tumulong, tumulong— that’s my passion,” he said.

Under his leadership, The Fraternal Order of Eagles- Philippine Eagles, Inc is institutionalizing an eight-point agenda to strengthen and streamline the organization: Unification among members of the fraternity; Organizational Restructuring for a more efficient administration; Transparency and General Appropriations Act which prioritizes financial transparency and accountability; Enhanced Digitization, Website, and Portal to enhance the quality of service they

provide; Eagles Cooperative to provide economic, social and cultural support to its members and their communities; Synergized Organization to promote healthy competition through bidding process for its projects; Global Expansion of Membership to strengthen recruitment efforts abroad for club memberships; and Strong Alliance to work handin-hand with the government and NGOs to elevate the lives of the Filipino people. With this eight-point agenda, Delos Santos is ushering in a flagship program, the F1KD “Children’s First 1000 Days.”

Based on Republic Act 11148, the national and local health and nutrition programs of the government, this program covers the first 1000 days of a child’s life—starting from day one of pregnancy until the child reaches two years of age.

“The Philippine Eagles will provide much-needed health and nutrition support for the mother and the child,” Delos Santos explains. “We make sure we will help provide a good environment for child-rearing. But it’s not limited to the first 1000 days. We will continue to give support for the education of these children and the welfare of their families.” He lays out the rationale for this project by saying, “These children are the next generation of our country. We are building the future. This emboldens us to reach out to our partner NGOs and other concerned entities for help and support.”

Such a strong sense of vision and mission is not surprising, since Delos Santos has been steeped in a life of service as a former marine, a reserved officer of the Philippine Army, past president of Rotary 2020-2021 and a Freemason.

IN the photo are, from left, Patrick Ian Bituin (VP for Marketing, JCFAP), Francisco “Coco” Mauricio (JuanHand President and CEO), Marc Kristian Fabio Gulle (FEdCenter CEO), and Princess Claire Isla (VP for Comptrollership, JCFAP).

Editor: Tet Andolong

ISOC’S rOad tO SuStaInabIlIty

By Rizal Raoul S. Reyes @brownindio

The real estate industry accounts for 38 percent of the carbon industry globally, of which around 70 percent is in urban areas, according to property management firm JLL. “Considering this significant contribution to global carbon levels, the need and importance of sustainability is undeniable,” says JLL.

Vitaly Berezka, head of sales, Central Asia, Middle East, North America and Asia Pacific of digital B2B platform PlanRadar, that the integration of green practices and sustainable construction methods comports with the increasing focus and scrutiny on environmental stewardship and resource conservation. By adopting eco-friendly materials, renewable energy solutions, and sustainable construction techniques, Berezka says companies can reduce their environmental impact while meeting regulatory standards and stakeholder expectations.

I-Land’s greening and winning option

A SIDE from promoting sustainable development, ISOC’s I-Land Residences Sucat is also definitely reaping the benefit of the growing awareness of the buyers as the project has achieved an estimated 6 percent annual growth rate in value. According to the company, the estimated value of a unit at I-Land Residences Sucat has already increased by

28 percent since its launch in 2020.

ISOC Land President May V. Lopez, pointed out that the local home market buyers have evolved to choose a green lifestyle especially in the urban setting. Meanwhile, I-Land Residences Sucat is the only mid-income residential condominium in the local market vying for LEED (Leadership in Energy and Environmental Design) certification under the U.S. Green Building Council (USGBC). Lopez adds the recent completion of the property’s exclusive cloudhouse will bring to reality the promise of a sustainability-oriented city lifestyle at I-Land Residences Sucat, its maiden residential project.

“I-Land Residences Sucat’s clubhouse plays a key role in delivering our commitment to the health and wellbeing of our residents, and in creating harmonious coexistence with nature and each other,” says Lopez. Lopez says the distinctive threelevel, 820-square-meter structure is the centerpiece of the two-hectare, six-tower urban residential condominium community rising in the

South of Metro Manila.

The clubhouse is seamlessly integrated into the nature-rich environment of I-Land Residences Sucat, as carefully intended in the overall master plan developed by design firm Aidea.

Lopez says, the indoor amenities and facilities in the clubhouse will enable and inspire residents to genuinely enjoy a holistic lifestyle of everyday wellness.

The kids’ playroom, located at the ground floor, will enable the young ones to pursue an active lifestyle. Innovative thinking pods, on the other hand, provide quiet and comfortable nooks for adults who wish to work, study or simply have time to themselves.

The second level will have a gym as well as a game room with a full-size billiards table and karaoke. Meanwhile, the third level has a spacious function hall that can accommodate 100 people for personal events or

Singaporean property services provider signs deal with local realty firm

By Roderick L. Abad

APAC Realty, a leading Singaporebased real estate services provider under the ERA brand, has just closed a game-changing franchise deal with homegrown firm Upper Room Realty to form ERA Philippines, which aims to expand regional network of resources in investments, brokerage and vital services as valuations, while bringing in shared technologies and best industry practices to the country.

“These signs make us bullish for a bright future in the Philippines, which we can all be a part of,” he said. “We are excited to cater to the demands of the industry, extend a helping hand and lend our expertise, and provide an avenue for sale and promising transactions to flow. Our combined knowledge and experience in the industry will help us become the No. 1 trusted brand in the Philippines.”

Under the franchise agreement, APAC Realty allows Upper Room Realty to operate ERA member broker offices in Metro Manila for an initial 15-year period.

In a sideline interview, Garcia told the B usiness M irror that they will start hiring agents soon as they target to grow their number to a thousand in three years time.

community gatherings. In line with I-Land Residences Sucat’s green design, the clubhouse likewise boasts of sustainability features such as energy- and water-efficient fixtures, and abundant natural light and ventilation. A scenic elevator also

ensures mobility for persons with disability (PWD). Moreover, there will be other indoor amenities in the community, such as a full-size basketball court and a sky deck with seating areas. Meanwhile, outdoor amenities and

Architects Lead the Way: CoNEX 2024 highlights architectural perspectives

SCG Export manager Chanon Sangkaew, United Architects of the Philippines (UAP) President richard Garcia, and SCG President on marketing Philippines Bancha Chaiprom during the Conex 2024 at SmX Convention Center in Sm mall of Asia last Friday, April 19, 2024.

features will include bike lanes, jogging paths, pet park, playgrounds, meditation area, outdoor fitness stations and a pool complex with showers and changing rooms.

“All these amenities aim to create the perfect balance of restful and dynamic activities for every member of the family. This is the essence of a rewarding urban lifestyle in I-Land Residences Sucat,” explained Lopez. At present, the development’s first tower, Lime, has already been completed and is currently welcoming the community’s pioneer residents, as the construction of the second and third towers, Olive and Sage, continue to be in progress.

I-Land Residences Sucat was cited as Best Affordable Condo Development in Metro Manila at the 11th PropertyGuru Philippines Property Awards in 2023. It was also given a Highly Commended award for Best Eco-Friendly Condo Development and Best Condo Architectural Design.

fer a fresh outlook for convention attendees and industry peers.

As a provider of home solutions, Chaiprom believes that SCG demonstrated its ability to adapt to current market trends by prioritizing sustainable and innovative materials. This shift reflects the growing consumer consciousness towards environmental issues and the desire to leverage modern technology for cost-effective and health-conscious benefits.

O“It also represents ERA’s global presence to these 40 countries, from America to Europe, South Africa, and the Asia Pacific,” he noted.

Other than expanding their territories, Chu underscored their intention to also “continue to break down cultural barriers and share best practices in the real estate industry,” not to mention, empowering this franchise to close deals across their global network.

Given that the country is poised for further economic growth and the constant increase in number of overseas Filipino workers—now counting at 2.33 million with a total remittance of $33.5 million—who mostly choose to invest back home through properties, ERA Philippines CEO Johann Garcia expressed excitement on their partnership that will open more doors to investment opportunities and foster collaboration between local real estate professionals and their international counterparts and investors.

“The launch of ERA Manila, our latest addition to the esteemed ERA Asia Pacific family, marks the 13th country in the Asia Pacific region,” APAC Realty and ERA Asia Pacific Chief Executive Officer (CEO) Marcus Chu said during their agreement signing rites held at the Manila House in Bonifacio Global City, Taguig last Saturday. According to him, this is a welcome development not only for their expansive regional footprint that also includes Singapore,Indonesia, Vietnam, Malaysia, Thailand, Japan, South Korea, China, Taiwan, Cambodia, Laos and Australia, but also their international reach.

“There is a continuous supply of new brokers and agents in the Philippines. We expect to grow in number through local institutional partnerships by conducting online seminars for new sales agents, keeping them updated with the market and government compliances, and by using the tools and technology of ERA,” he said.

With the initial guidance from ERA Singapore, the top executive added that the local franchise will have a mobile app of its own with an MMS that is localized so that brokers, agents and clients can have an easier experience of transacting real estate. This platform, which also serves as a channel for property listing, will become live nationwide in the next three to four months.

ERA Philippines Chief Agency Officer Bobby Kok bared that their franchise will initially focus on residential developments such as condominiums, apartments, strata townhouses, and house and lots.

But, eventually, it will cover the rest of property segments from commercial to industrial, offices and even hotels like condotels, Garcia pointed out.

“Right now, we’re focusing on Metro Manila. But because there are foreign markets in areas like Pampanga, Cebu and Davao, so we’re going to quickly expand [our listings in those areas],” he stressed.

VER 130 building and construction firms joined the concluded CONEX event at the SMX Convention Center in SM Mall of Asia last Friday, April 19.

United Architects of the Philippines (UAP)

President Richard Garcia told the B usiness M irror that this endeavor is driven by architects, service-focused, entirely voluntary, and all exhibition activities are guided by architect’s perspectives.

“We attract mostly architects, designers, other professions like interior designers, and landscape architects,” he said.

Garcia said that through the UAP they really wanted to push collaboration and feature different types of products available in the market.

When asked about their selection process for the exhibiting firms, Garcia explained that they carefully select industry partners they believe will provide beneficial resources for architects, covering everything from flooring and walls to ceilings, roofing, and other construction essentials.

Trends in Filipino Home Construction Preferences W

observed in Filipino consumer choices regarding home construction materials, he pointed out several key factors. Firstly, he noted the growing popularity of the “Do It Yourself” approach, emphasizing its ease of implementation and the accessibility of resources for homemakers.

He also highlighted the importance of availability, stating that consumers prioritize materials that can be easily replaced in case of issues.

Furthermore, he emphasized the significance of pricing in consumer decisions, indicating that affordability plays a crucial role. And he underscored the increasing demand for sustainability, with consumers seeking environmentally friendly products that have minimal impact on the environment.

Eco-Friendly Solutions for Sustainable Living O NE of the firms featured in the three day event of 2024 Construction Exposition, Siam Cement Group (SCG),renowned in the construction material industry and Thailand’s top brand. SCG showcased several innovative products emphasizing innovation, sustainability, and longevity.

SCG President on Marketing Philippines Bancha Chaiprom said that their products of-

According to Chaiprom, SCG is the first in Thailand to self-certify the environmental friendliness of their products and services. They accomplish this through their eco-label called “SCG Green Label,” which assures buyers that their products are environmentally friendly and safe. This assurance is provided through clear information, product knowledge, and attributes of the labeled products. When asked about specific eco-friendly products with the green label, SCG Export Manager Chanon Sangkaew highlighted “SmartWood.” He emphasized that SmartWood combines green, durable, and innovative features, suitable for ceiling, wall, and floor applications.

Sangkaew added that SmartWood is asbestos-free, contributing to a healthier environment and reducing pollution and served as a sustainable alternative to natural resources like wood.

Sangkaew also drew attention to the current challenges of climate change and high temperatures faced by the Philippines and the world.

He introduced “SCG Staycool,” a product designed to keep homes cool. Specifically engineered for ceilings, Staycool utilizes HydroProtec technology to repel water and moisture, thereby prolonging insulation performance and effectively reducing heat indoors.

Additionally, there are other notable products such as “Shinkolite,” a renowned brand of transparent acrylic roofing sheets manufactured by SCG Chemicals, along with various other home solution products. Meanwhile, when asked about the future expansion of the expo, Garcia expressed optimism about accommodating more firms in the event if there is ample space available.

“But what I’m proud of is that CONEX attracted other ASEAN neighbors to exhibit here,” he conlcuded.

From left: Engr. Jeff Timpog, I-Land residences Sucat Project Head; rubieliza Albay, ISoC Land AVP for Procurement; Arch. ryan Licup, AIDEA Project Architect; Engr. Amelito Barillo of AG Barillo Construction; rexel Britos of megatec; I-Land residences Sucat homeowners ryan Uy and marvi Tolentino-Uy; michael Cosiquien, ISoC Land Chairman; monique Cosiquien; may V. Lopez, ISoC Land President; Kristel Jabines, ISoC Land AVP for Business & Project Development.

ACTUAL photo of I-Land residences Sucat’s clubhouse lobby.

T HE kids’ play room at I-Land residences Sucat’s clubhouse provides a safe space for the children in the community.

Story & photo by John Eiron R. Francisco

Sports BusinessMirror

B8 Wednesday, May 8, 2024

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

THE cornerstones for the country’s solo hosting of the FIVB Volleyball Men’s World Championship 2025 were solidly nailed on Monday in a strategic meeting at the BGC graced by youthful Presidential son William Vincent “Vinny” Araneta Marcos, who will co-chair the Local Organizing Committee (LOC). With Marcos as co-chair of the LOC are Senator Alan Peter Cayetano and Department of Tourism Secretary Christina Garcia Frasco, with Philippine National Volleyball Federation (PNVF) head Ramon “Tats” Suzara as president.

“I’m really confident and I believe everybody know’s what he or she’s doing,” said the 25-year-old Marcos, who’s be co-heading an LOC that’s best described as an organization that’s “been there, done that and doing this” with aplomb. The LOC consists of 17 Functional Areas headed and manned by the same people who’re responsible for the successful hosting of the Philippine 2019 Southeast Asian

Vinny Marcos co-chairs organizing committee for FIVB men’s worlds

Games and co-hosting of the FIBA 2023 World Cup.

The members of the LOC Board include Philippine Olympic Committee president Abraham “Bambol” Tolentino, Philippine Sports Commission (PSC) chairman Richard Bachmann and MVP Group of Companies head Manuel V. Pangilinan.

“With Vince [Marcos] support complimenting the commitment of Senator Cayetano and Secretary Frasco, the Philippines is again guaranteed to be on the world sporting map this time in volleyball,” Suzara told the strategic meeting also attended by representatives from the Philippine Sports Commission.

European weightlifting champion killed in action on Ukraine frontline

KYIV, UKRAINE —Two-time European weightlifting champion Oleksandr

Pielieshenko died on the front line in the war in Ukraine, the Ukrainian Olympic Committee said on Monday.

Pielieshenko “died in the war with the enemy” on Sunday, the committee posted on Telegram. He was 30. He joined Ukraine’s armed forces in the first days of Russia’s invasion, the committee added.

Pielieshenko came back from a doping suspension in 2013-15 to win the 2016 European under-85 kilogram division by one kilogram. He successfully retained the title in 2017 in Split.

Pielieshenko missed out on an Olympic medal by five kilograms at the 2016 Rio de Janeiro Games, where he placed fourth. He committed a second doping violation in 2018.

“It is with great sadness that we announce that today the heart of the honored master of sports of Ukraine, two-time European weightlifting champion Oleksandr Pielieshenko, stopped beating,” the Ukrainian weightlifting federation said on Facebook. National coach Viktor Slobodianiuk added on Facebook, “War takes the best of us... This is a very heavy loss for the entire weightlifting community of Ukraine. Heroes do not die.”

Senator Alan Peter Cayetano, also PNVF’s Chairman Emeritus, highlighted the value of having the young Marcos at the helm of the country’s FIVB 2025 hosting.

“It’s your [the next generation] turn. We really like having younger people in this committee because it’s about passing [the baton of leadership],” Cayetano told Marcos.

First Lady Liza Araneta Marcos has earlier vowed her full support to the championship featuring the world’s top 32 volleyball countries— including the Philippines—from September 12 to 28 at the Smart Araneta Coliseum and SM Mall of Asia Arena.

OLEKSANDR

PIELIESHENKO, 30, joined Ukraine’s armed forces in the first days of Russia’s invasion. AP

Sixers won’t stand in way as Embiid chases OIympic

CAMDEN, NEW JERSEY—Say goodbye to the 76ers. No, not Joel Embiid. Tyrese Maxey is sticking around, too. Nick Nurse seems like a perfect long-term fit as coach.

But for the rest of the Sixers? It’s time

Watanabe awaits confirmation of Olympic berth

By Josef T. Ramos

KIYOMI WATANABE is on the verge of becoming a two-time Olympian.

The Cebu-born Watanabe is waiting for the qualification cutoff on May 31, according to Philippine Judo Federation Secretary-General Dave Carter, before formalizing her entry as the country’s 13th Paris bound Olympic Filipino athlete.

“We only have one so far and that’s Ms. Kiyomi Watanabe. She is qualified through continental quota,” Carter told BusinessMirror on Tuesday, adding that it would be Watanabe’s second stint in the Olympics for minus 63 kgs division.

“The deadline of qualification in judo is until May 31. So meaning to say, there’s a little possibility that she may lose her spot but I’m confident she will be our representative in Paris because of the gap between her and the next judoka,” Carter explained. Watanabe, 27, is No. 84 among 311 female judokas in the International Judo Federation Olympic Qualifying ratings. The top 17 judokas automatically qualify for Paris, while 10 quota places for each gender will also be given in each weight class for Asia. Keisei Nagano is ranked No. 102 in -73 kgs class while brother Shugen Nagano is 109th in the men’s -66kgs. Watanabe, the silver medalist in the 2018 Jakarta Asian Games,

failed to get past the Round of 32 in the 2021 Tokyo Olympics, bowing to Spain’s Cristina Cabaña via ippon.

Watanabe is looking to join boxers Eumir Felix Marcial, Nesthy Petecio and Aira Villegas, gymnasts Carlos Yulo, Aleah Finnegan and Levi JungRuivivar, weightlifters Vanessa Sarno, Erleen Ann Ando and John Febuar Ceniza, pole vaulter EJ Obiena, rower Joanie Delgaco and fencer Samantha Catantan in the Paris Games from July 26 to August 11.

Sharks Billiards Association taps Trinidad as commissioner

SHARKS Billiards Association (SBA) is gearing up for its first season, with four teams battling for the title.

to pretty much wish them well, with just about the entire team—players such as Kelly Oubre Jr., Kyle Lowry and Nic Batum—ending the season with an expired contract.

Team president Daryl Morey this summer has about $65 million in salary cap space, a first-round draft pick, a max contract to offer to Maxey and plenty of questions to solve on how to finally, truly build an NBA championship contender around Embiid.

“We’re not going to have continuity,” Morey said Monday at the 76ers’ headquarters in New Jersey. “We’ll have continuity with our stars and our head coach but we’re going to have a lot of changes this season.”

The Sixers firstround exit against the Knicks made it 41 years since their last NBA

dream

championship. The Sixers haven’t even advanced out of the second round since 2001. It’s time to start over—this time with a championship chase, not a Process.

“We’re focused on Joel and Tyrese and we’re focused on now,” Morey said.

THE NEED FOR EMBIID

EMBIID will be an old 30 next season and expecting the All-Star center to miss a significant chunk of playing time because of injuries is an unfortunate rite of the season for the Sixers.

Embiid has never played more than 68 games in a season and was limited to only 39 this season in large part because of knee surgery. The 76ers finished 31-8 in the regular season with Embiid—about a 65-win pace—and a woeful 16-27 without him.

“I feel like I could have done a better job with the players so that we were in a better spot to win without him,” Morey said. “That said, we do spend 90 percent of the time figuring out how to win the title with him. It can’t be a big focus, how we play without him. We know that team can’t win a championship. It’s really, how do we manage through it better? I felt like, on me, the depth wasn’t quite there when he was out to win at the level we wanted to win at.”

Terrafirma, NorthPort clash for No. 8 spot

Ninoy Aquino Stadium. The Dyip and the Batang Pier both ended the eliminations with 5-6 win-loss records and will clash at 7:30 p.m. for the No. 8 spot and the right to face top seed San Miguel Beer in the round of eight beginning Friday.

“It’s like passing in the eye of the needle but that’s what it is,” Terrafirma coach Johnedel Cardel told BusinessMirror on Tuesday. “We just have to play our best and apply what we practiced for the last few days. We don’t want to think that far, we just have to settle this first.”

“They gave us an assurance that they would fight for the last quarterfinal spot tomorrow.”

Good thing for the Dyip is they are all healthy, from starters to the second unit.

Rookie Stephen Holt, who averaged 21.3 points, 8.4 rebounds, 6.4 assists and 2.4 steals in the elimination round, is all primed up and ready for the do-or-die game.

While the Sixers and their fans might wish Embiid would take a summer off to rest up, he is set to play for USA Basketball at the Paris Olympics. The 76ers won’t stand in Embiid’s way.

“It’s a dream of his to represent the United States in the Olympics,” Morey said. “I think it’s important to support the dreams of your best player.”

DRAFT SUCCESS

SBA will soon announce the players competing at the Great White Sharks Arena on Tomas Morato Ave. in Quezon City. The professional league has appointed veteran sports journalist Chino Trinidad as commissioner.

SBA, which began as an amateur league for local players, has also gained the support of Games and

Alvarez too good vs Munguia

Amusements Board chairman Richard Clarin. For updates, visit the SBA’s official web site ( http:// sharksbilliardleague.com) and Facebook page ( https://www. facebook.com/sharksbilliardleague/ ).

Munguia was the 27-year-old challenger that had been billed as the next best thing in boxing.

But against Alvarez, who was wrongfully labelled as the old bull, Munguia appeared a mere midget as his aggression was mincemeat most of the way.

Alvarez is 33 and he is old bull?

Wrong.

Alvarez is just bull, plain and simple.

One is usually at his strongest at 33.

As I keep saying, Muhammad Ali was 33 when he stopped Smokin’ Joe Frazier in 14 rounds in that Thrilla in Manila classic rightfully billed as The Fight of The Century on Oct. 1, 1975 at the Araneta Coliseum in Cubao, Q.C.

Against Munguia, Alvarez was the toughest bull you could ever imagine during their 12-round fight on Sunday at the T-Mobile Arena in Las Vegas, Nevada.

Alvarez took 170 of Munguia’s total of 663 shots. Not one hurt him that bad, except for a few body shakers (Munguia landed 44 body shots in nine rounds) that sent

WITH the Sixers in win-now mode, a string of solid seasons usually has them drafting toward the mid to late first round. Maxey in 2020 was the last draft pick who made any kind of impact. The 76ers are scheduled to pick 16th overall and hold the 41st overall pick in the second round.

While the draft quality has been knocked for having little depth, Morey said he’s fine with staying at 16. AP

him backward in the ninth.

But that was the only time that Alvarez was in trouble— if it can be called that. It was in the 10th and 11th rounds that the Mexican fighters exchanged furious shots.  But again, Alvarez emerged with the harder blows.

By the 12th, Alvarez was simply in cruise mode to score a unanimous victory that was chiefly anchored on the fourthround knockdown suffered by Munguia, his first in 44 fights.

The scores were 117-110 by Tim Cheatham, 116-111 by David Sutherland and 115-112 by Steve Weisfeld—all for Alvarez as Munguia absorbed his first loss after an incredible winning streak of 43.

Alvarez improved to 61-2-2, win-loss-draw card, his victory met by lusty cheers from the crowd of 17,492—except Oscar de la Hoya, his former manager now handling Munguia.

Alvarez and De La Hoya even almost came to blows after an altercation during the pre-fight presser. In becoming the undisputed super-middleweight

Juami Tiongson, who averaged 21 points in the elimination round, expects a thrilling game against NorthPort.

“I’m honestly excited and anxious about the game. But I’m really looking forward to tomorrow’s game,” Tiongson said.

“Northports a great team with coach Bonnie Tan and Arvin Tolentino leading them so I expect nothing less from them. It’ll be fun.”

Aside from Holt and Tiongson, the Dyip have Isaac Go, Javier Gomez de Liaño, JP Calvo, Andreas Cahilig and bruiser Eric Camson.

NorthPort halted a six game skid with a 115-113 win over Blackwater last April 27 that kept its quarterfinal bid alive behind Arvin Tolentino’s 27 points, 11 rebounds and seven assists. The Dyip lost their last elimination round game, 100-108, to Magnolia. Josef T. Ramos

champion of the world, Alvarez, who recorded 234 of 536 blows thrown, said:  “I took my time.  I had 12 rounds to win it.  And I did it.” Ted Failon, the broadcaster par excellence, said to me before the fight: “Munguia’s game plan should be to fight from a distance. He might get hit by a lucky punch.” Munguia didn’t listen that’s why he got decked with 38 seconds left in the fourth round that became a key component in Alvarez’s one-sided win.

“He’s

THE young lion was no match against the old bull.

I refer to Jaime Munguia, who got, to say the least, almost eaten alive by Canelo Alvarez.

PRESIDENTIAL son William Vincent Araneta Marcos and Senator Alan Peter Cayetano (fourth and fifth from left) and Philippine National Volleyball Federation president Ramon “Tats” Suzara (third from left) lead a jovial launch of the