BusinessMirror April 16, 2024

REMITTANCES RISE, BUT SAVINGS STATIC—BSP

By Cai U. Ordinario @caiordinario

REMITTANCES sent home by overseas Filipinos abroad continued to increase in February 2024 but their savings and investments remained at pandemic levels, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).

BSP data showed cash remittances rose to $2.65 billion in February

By Malou Talosig-Bartolome @maloutalosig

THE Philippines joined the international community on Monday in voicing its apprehension over the increasing tension between Israel and Iran.

On Saturday night, Iran launched over 350 bomb drones and missiles over Israeli targets in retaliation for the Israeli airstrike on the Iranian consulate in Syria last week.

“The Philippines expresses its serious concern over the increasing tensions between Israel and Iran.

“We urge all parties to refrain from escalating the situation and to work towards a peaceful resolution of their conflict.

“The Philippines has long advocated for all states to adhere to the principles of international law and to the peaceful settlement of disputes,” the Department of Foreign Affairs said in a statement.

There are around 30,000 Filipinos in Israel and 2,000 in Iran. However, if the Israel-Iran war expands to the Middle East, it might affect the employment of more than 1 million Filipino workers in the region.

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Among the 4 million filers of the 2023 Annual Income Tax Return (AITR) nationwide, Lumagui said 95 percent of filers had already logged while it expect the remaining 5

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Q1 govt borrowings cleared by MB dip 48% to $2.87B

By Cai U. Ordinario @caiordinario

FOREIGN borrowings approved by the Monetary Board declined 48 percent in the first quarter of 2024, according to the Bangko Sentral ng Pilipinas (BSP).

The data showed the approved government borrowings reached $2.87 billion in the first quarter of 2024, lower than the $5.56 billion approved in the same period in 2023.

BSP said these approved borrowings covered a total of five program loans amounting to $2.02 billion and two project loans worth $850 million.

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The country is also heavily dependent on oil imports from the Middle East.

There are 17 Filipino seafarers of cargo ship Galaxy Leader who are still being held by the Iran-backed Houthi militants in Yemen since November 2023.

Last Saturday, another container ship, MSC Aries, was taken by Iranian forces with a multinational

The programs that these loans will finance include those on health care worth $910 million and digital transformation worth $410 million.

The list also includes programs on tax administration worth $400 million and inclusive finance development estimated at $300 million. As for the loans to be used for

crew on board that included four Filipinos, the Department of Migrant workers confirmed.

Israeli envoy: condemnationExpect

ISRAELI Ambassador to Manila

Ilan Fluss said his country is “expecting the international community to condemn the attack of Iran against Israel.”

Asked to comment about the Department of Foreign Affairs (DFA) statement which stopped short of condemning the Iranian attack,

projects, these will be spent on infrastructure projects worth $850 million.

In 2022, based on the National Economic and Development Authority’s Official Development Assistance Portfolio Review, the program loans amounted to $9.86 billion while roject loans amounted to $20.34 billion.

Program loans accounted for 30 percent of the total ODA commitments in 2022 and project loans accounted for 63 percent. The remaining 7 percent were composed of grants amounting to $2.2 billion in 2022.

On a year-to-date basis, BSP said cash remittances rose by 2.8 percent to $5.48 billion in JanuaryFebruary 2024 from $5.33 billion registered in January-February 2023.

lion recorded in February 2023. In terms of levels, personal remittances was higher by $300 million or 11.34 percent compared to cash remittance.

Further, Letter of Instructions No. 158 dated 21 January 1974 requires all foreign borrowing proposals by the National Government, government agencies and government financial institutions to be submitted for approval-inprinciple by the Monetary Board before commencement of actual negotiations.

The BSP said it promotes the judicious use of the resources and ensures that external debt requirements are at manageable levels, to support external debt sustainability.

Under Section 20, Article VII of the 1987 Constitution of the Republic of the Philippines, prior approval of the Bangko Sentral ng Pilipinas, through its Monetary Board, is required for all foreign loans to be contracted or guaranteed by the Republic of the Philippines.

Fluss replied.

“The Philippine government has issued a statement and we obviously respect the statement that was issued. But I’m not going to go into the nuances of the specific language.”

Addressing reporters via virtual press conference, he stressed: “It is important to say that the Philippines and Israel are friendly countries which are historically good and close relationship and we continue to build this relationship.”

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“I don’t see a reason why Japan should not be part of those exercises in the future. That again is I think a good move for us to make, simply because it will make it easier for us to work together and to coordinate together,” Marcos said.

The Balikatan is the annual military exercise of the Philippine and US military as part of the Mutual Defense Treaty (MDT) between the two countries.

Australia, which signed a similar agreement, with the Philippines, participated in the Balikatan in 2014.

Japan is also seeking a similar arrangement with the Philippines through a pending Reciprocal Access Agreement (RAA), which Marcos said, is expected to be completed soon.

“There aren’t really real conflicts in principle. It’s just a question of getting the language down and defining precisely how it’s going to work—the logistical systems and how that’s going to work—but it should not take very much longer. I think we’re very close to completion on that,” Marcos said.    Marcos met with Biden and Japanese Prime Minister Fumio Kishida last week in a historic trilateral meeting in Washington D.C. to strengthen Philippines-Japan-US economic and defense ties amid growing regional issues, including territorial issues concerning China. Samuel P. Medenilla

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Other TCC winners were: (Second place, P15-million prize) Sablayan, Occidental Mindoro’s Mangrove Forest Park Development, Badian’s Toong Spring Nature Park in Cebu, Davao City’s Cultural Peace Hub for Indigenous and Bangsa Communities; (Third place, P10 million) Bolinao’s Silaki Island Community-Based Tourism Project in Pangasinan, Silago’s Ridge to Reef EcoExperience Project in Southern Leyte, Samal Island’s Mangrove Boardwalk Project in Davao del Norte; (Fourth place, P8 million) San Jose Eco-Tourism Parkin Romblon,Victorias City’s Gawahon Ecopark in Negros Occidental, Tagum City’s Enriched Heritage-Tourism Circuit in Davao del Norte; and (Fifth place, P7 million)Socorro’sNaujan Lake Wetland Center in Oriental Mindoro, Panay’s Coastal Resource Experience in Capiz, andSan Agustin’s Construction of a Tourist Catwalk in mangrove areas in Surigao del Sur.

For her part, Tourism Secretary Christina Garcia Frasco said, “As we gathered to recognize and honor and award our top 15 local government units, we are not just awarding projects but celebrating the spirit of innovation, collaboration and community that drives our tourism sector forward. Let us continue to support and inspire each other as we work together towards making the Philippines a tourism powerhouse. And also and most importantly, a beacon for sustainable and inclusive tourism development.”

Opiniano, who is also the Director of the University of Santo Tomas (UST) Research Center for Social Sciences and Education (RCSSED), noted the increase in remittances is consistent with the recovery in deployment.

He said OFW deployment has returned to normal and reached a 55-year high since the Philippine government recorded the deployment of overseas contract workers in 1969.

Opiniano said labor markets or host countries have fully reopened and this has created a resurgence in the demand for foreign workers.

“Future cash remittance flows from Filipinos abroad may remain steady and coasting along in the coming months. Labor markets have returned to hiring foreign workers. Many economies (developed, developing) may have recovered already from COVID-19’s economic wrath,” Opiniano said.

Savings, investments tepid NONETHELESS, he noted that the BSP’s Consumer Expectations Survey (CES) remains a wake-up call for OFWs, their families, and the country as savings and investments of Filipinos abroad remained at pandemic levels.

The data showed OFW households who saved accounted for 32.1 percent and those who invested reached 6.2 percent. These numbers, he saids, are consistent with the time OFW households saw their savings plummet.

Opiniano said there is a need to find more strategic approaches to encourage more OFWs to save and or invest apart from investing in the education of their children and spending for daily household needs.

“More strategic approaches may be necessary to direct the cognitive behaviors of Filipinos—not just OFWs and their households —to a mindset change: creating a savings habit—cash—institutionally, thinking of investing on top of education spending for children, perhaps dabbling into business,” Opiniano said.

Meanwhile, personal remittances from Overseas Filipinos (OFs) grew by 3 percent to $2.95 billion in February 2024 from $2.86 bil-

Prior to 2006, the gap between personal and cash remittances were above 20 percent and prior to 2007, the difference was upwards of 12 percent.

Ateneo de Manila University Economics Department Chairperson Alvin P. Ang told BusinessMirror this is mainly due to technology as more Filipinos abroad turn to money transfers rather than send their support in kind.

Personal remittances cover cash sent through banks and informal channels as well as remittances in kind, while cash remittances refer to cash sent by land-based and seabased workers through the banking system.

“It’s [sending of remittances] now easier online. This also happened during the pandemic [as evidenced by...more online accounts and online shopping [activities among Filipinos overseas],” Ang told this newspaper, speaking partly in Filipino.

Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said remittances can have a significant impact on consumer spending. This, in turn, can boost the country’s economic growth which is consumptiondriven.

Ricafort said consumption accounts for 75 percent of the Philippine economy. This is also the reason remittances sent during Christmas and New Year can have a significant impact on GDP growth.

“The Philippine remittances from overseas workers have consistently been the fourth largest in the world after India, Mexico, and China, amounting to more than $40 billion per year, a sign of resilience and has always been a bright spot/ major growth driver for the Philippine economy for many years/ decades,” Ricafort noted.

The BSP data showed the growth in cash remittances from the United States, Saudi Arabia, Singapore and the United Arab Emirates contributed mainly to the increase in remittances in January-February 2024.

In terms of country source, the US had the highest share of overall remittances during the period, followed by Singapore, Saudi Arabia, and Japan.

percent or 200,000 filers to settle their taxes during the last day of the filing on April 15.

Most big businesses filed their AITRs early and electronically through the Electronic Filing and Payment System (eFPS), Lumagui added.

Lumagui said the turnout of filing of income taxes this year has exceeded their expectations as few taxpayers fell in line and filed manually, since most filers have utilized the BIR’s online platforms, such as the eFPS and Electronic BIR Forms (eBIRForms).

“As we can see, only a few people are filing their AITRs because we have opened the banks for two consecutive Saturdays and our tax assistance centers are everywhere,” Lumagui said in a mix of English and Filipino.

Only persons with disabilities, senior citizens, and those who cannot access the eFPS and eBIRForms can manually file their AITRs, according to the BIR.

For the manual payment of taxes, cash payment up to P20,000 only or check payment regardless of the amount payable to the “Bureau of Internal Revenue” made through the Revenue Collection Officer (RCO) of any Revenue District Office (RDO) is accepted.

Non-eFPS taxpayers who already filed their AITR through the eBIRForms facility are no longer required to file or re-file the return in the eFPS and there is no need for the electronically filed AITR to be stamped as “Received” in the RDO.

Earlier, the BIR announced that it collected P446.423 billion from January to February this year, up by 24 percent year-on-year as a result of the “continuing intensification” of its tax enforcement activities.

The BIR’s collection goal is set at P3.055 trillion for 2024, with the bulk, or P2.967 trillion, coming from BIR operations, such as taxes on net income and profits and value-added tax (VAT), and P88.014 billion from non-BIR operations.

To obtain this, Lumagui said the BIR will impose taxes on online sellers and digital transactions, running after fake transactions and tax evaders, as well as improving BIR’s systems and processes.

The BIR said that the filing of the AITR for Calendar Year 2023 shall be done electronically through the eFPS and eBIRForms and taxes may be paid due through online payment options, such as Land Bank of the Philippines’ Link.BizPortal, Development Bank of the Philippines’ PayTax Online, Union Bank of the Philippines Online/The Portal Payment Facilities, and tax software providers such as Maya and MyEG.

Lawmaker tells NTC to tighten SIM registration law

SBy Butch Fernandez @butchfBM

ENATOR Sherwin Gatchalian pressed the National Telecommunications Commission (NTC) to tighten the registration of Subscriber Identity Module (SIM) to rigorously enforce the provisions of the SIM Registration Law.

Gatchalian issued the statement after a substantial number of SIM cards were retrieved in a series of search warrant implementations at the Tarlac-based Philippine Offshore Gaming Operator (POGO), now termed as Internet Gaming Licensee (IGL).

He noted that during the execution of a warrant to seize and examine computer data from the raided Zun Yuan Technology Inc. on March 22 and 23, authorities were able to recover assorted sim cards, along with hundreds of cellular phones and digital devices. Gatchalian said authorities also found SIM cards when they recently opened all the safety vaults at the premises of Zun Yuan Tech, adding that this illustrates the extent of scamming activities being carried out by POGOs.

SRecalling that “it is not the first time this has happened,” he added: “In fact, many SIM cards have already been confiscated in previous raids on IGLs.”

Moreover, the chairman of the Senate Committee on Ways and Means, said legitimate SIM card users continue to receive text messages aimed at defrauding unwitting subscribers.”

Gatchalian, a co-author of Republic Act 11934 or the SIM Card Registration Act, which was signed into law in December 2022, said groups behind many scamming activities in the country could be related to IGLs.

“It is alarming to note that unscrupulous individuals or groups continue to commit fraud and various scamming activities even after the measure was passed into law. This goes to show that we have yet to achieve the purpose of this legislation, and it is the job of the NTC to ensure that provisions of this law are implemented thoroughly,” Gatchalian said.

“The measure is intended to establish accountability in the use of SIM cards and deter the use of SIM-related technology in various scamming activities,” he added.

Davao lawmaker urges soldiers to withdraw support for Marcos

By Jovee Marie N. Dela Cruz @joveemarie

DAVAO del Norte Rep. Pantaleon Alvarez, a staunch ally of former President Rodrigo Duterte, urged the Armed Forces of the Philippines (AFP) to withdraw its support for President Bongbong Marcos Jr., citing the need for peace and stability in the country.

However, Alvarez’s colleagues said Monday that the former Speaker may become the subject of an ethics investigation because of his statements.

Speaking at a rally in Tagum City late Sunday, Alvarez told members of AFP that it is their Constitutional duty to protect citizens and the state, especially amid escalating tensions between the Philippines and China in the West Philippine Sea.

“Allowing a war to erupt, is that protecting the people? No,” Alvarez said, adding that an armed conflict could result in devastation and

Bong Go helps indigents in Impasug-ong, Bukidnon solutions to the country’s challenges. He also thanked local officials present during the event, including Board Member Minerva Casinabe, Mayor Anthony Uy, and Vice Mayor Johnny Chavez, among others, for their service to their constituents.

famine.

“In a peaceful manner, please withdraw your support for the chief executive,” he implored the AFP members present. “If you withdraw your support, he will have no choice but to step down,” he said.

The rally unfolded amid growing speculation surrounding a purported “secret agreement” between Duterte and China concerning the West Philippine Sea.

Reacting to Alvarez’s statements, Lanao del Norte Rep. Khalid Dimaporo cautioned against divisive rhetoric, suggesting that such remarks could lead to an ethics case against the former speaker.

“I would kindly urge the former Speaker to be cautious with his words and clear on his intent. On face value, his anti-government statements are unbecoming of a member of the HOR [House of Representatives] and may warrant an ethics case against him,” he said.

Surigao del Sur Rep. Johnny Pimentel echoed similar sentiments, describing Alvarez’s remarks as “uncalled for” and potentially seditious. Pimentel also said government’s efforts towards economic reforms must be supported.

“The remarks of the former speaker are uncalled for. That is tantamount to an act of sedition or rebellion. Now is not the time to be divisive when our country is trying to promote our country to be an investment haven to foreign investors. Instead, we should all unite and give our support to PBBM with his effort for economic reforms,” he said.

Camiguin Rep. Jurdin Jesus Romualdo, meanwhile, called on the Department of Justice (DOJ) on Monday to initiate an investigation into former Speaker Pantaleon Alvarez’s remarks, which he deemed “seditious,” and to file appropriate charges.

Romualdo said the “seditious speech” must be “promptly addressed”

to prevent any attempts to incite rebellion against the government.

“The response to the seditious statement should be the immediate filing of a criminal case so that the move to incite people, including the military, to rebel against the government will be nipped in the bud,” he said in a statement.

He said the crime of sedition includes a person’s conduct, remarks or speech inciting the public to move against the state or duly constituted or elected authority.

“Clearly, what former Speaker Alvarez remarked during a rally in Tagum City falls within the purview of sedition,” he said.

Alvarez is an ally of former president Rodrigo Duterte. In remarks before his constituents in Tagum City, the Davao lawmaker urged the military to withdraw their support for President Marcos so the Chief Executive would be forced to step down.

establishing more than 700 Super Health Centers nationwide.

During the aid distribution held at the municipal covered court, Go praised fellow Senator Marcos as a diligent public servant capable of solving problems and offering

ENATOR Christopher “Bong” Go, on Saturday, April 13, reinforced his commitment to supporting social programs aimed at aiding the poor in overcoming poverty, joblessness, and hunger as he provided additional aid to indigent residents in Impasug-ong, Bukidnon. Through the efforts of Sen. Imee Marcos, the aid distribution was organized for qualified beneficiaries to receive financial aid from the government. Meanwhile Senator Go distributed grocery packs to 700 indigent residents. The senators were in Bukidnon that day to attend the birthday celebration of Senate President Migz Zubiri. In his speech, Go, known as Mr. Malasakit for his compassionate service for the poor, emphasized his unwavering commitment to service and community development. “Lunes hanggang Linggo, wala akong pinipiling araw...nagta-trabaho ako para sa inyong lahat.Utusann’yolangakodahilangaking trabaho talaga ay magserbisyo sa inyong lahat,”declared Go.

As chairperson of the Senate Committee on Health and Demography, Go underscored the importance of accessible and affordable healthcare as he urged the residents to visit Bukidnon Provincial Hospital in Maramag, where a Malasakit Center is available to help with their medical-related expenses.

Go is the principal author and sponsor of Republic Act No. 11463, or the Malasakit Centers Act of 2019, which institutionalized

the Malasakit Centers program. Currently, 162 Malasakit Centers are operational nationwide. The DOH reports that the Malasakit Center program has benefited over 10 million Filipinos so far.

To further improve the health care system and bring primary care, medical consultations, and early disease detection closer to communities, Go also advocated establishing Super Health Centers nationwide, including 15 in Bukidnon.

Through the concerted efforts of Go, fellow lawmakers, the Department of Health, led by Secretary Teodoro “Ted” Herbosa, and local government units, adequate funding was allocated for

Go, as Vice Chair of the Senate Committee on Finance, supported the funding of numerous projects in the province. Among these are several road improvements in Cabanglasan, Damulog, Dangcagan, Don Carlos, Kibawe, Kadingilan, Kalilangan, Lantapan, Libona, Malaybalay City, Malitbog, Maramag, Pangantucan, San Fernando, Talakag, Baungon, and Valencia City. He also supported the construction of multipurpose buildings in Cabanglasan, Damulog, Don Carlos, Impasug-ong, Kibawe, Malaybalay City, Manolo Fortich, Quezon, San Fernando, Sumilao, and Talakag.

Go also advocated for evacuation centers in Damulog and Kiatotao and ambulances for Dangcagan, Quezon, and Cabanglasan.

On the same day, Go visited the Bureau of Fire Protection trainees in Impasug-ong and participated in the groundbreaking ceremony for a fire station there, a project he supported as principal author and co-sponsor of the BFP Modernization Act of 2021. He also visited the fire station in Sumilao.

In Sumilao, he inspected the Super Health Center and assisted displaced and barangay health workers. Similarly, in Malaybalay, he conducted an inspection of another Super Health Center and provided aid to displaced workers.

Economy

PHL power supply made resilient with USAID initiative–Pres. BBM

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R. Marcos Jr. said the country’s power supply is set to become more resilient during natural calamities with the launch of the two components of the $34-million “Energy Secure Philippines” initiative of the United States Agency for International Developments (USAID).

Last Monday, the Department of Energy (DOE) held the ceremonial launch of the Energy Sector Emergency Operations Center (ESEOC), which will be complimented by the Mobile Energy System (MES) at the Energy Center in Bonifacio Global City, Taguig City.

“These systems will ensure the continuous operation of critical infrastructure and basic services in emergency situations,” Marcos said in his message delivered by Executive Secretary Lucas P. Bersamin during the launch event.

“These remarkable undertakings of innovation demonstrate how we capitalize on technological advancements and how we can provide proactive solutions to the energy challenges that beset our country,” he added.

The Presidential Communications Office (PCO) said the President was unable to attend the event due to an urgent matter.

The ESEOC will serve as a centralized hub that will provide the DOE a real-time monitoring of power infrastructure and, thus, allowing the energy department to coordinate response with energy partners during disasters

to prevent power disruptions. This will be augmented by the MES, which makes use of renewable energy sources, energy storage, and microgrid technologies “to provide reliable power generation and distribution in remote or disaster-stricken areas.”

Marcos said the MES will be piloted in typhoon-prone municipalities of Santa Ana and Lal-lo in Cagayan province and distributed to various government agencies. The USAID turned over eight solar-powered MES units to the DOE for the said pilot initiative.

When the 50 kilowatt hour-battery of an MES unit is fully charged, it can power two television sets, two airconditioning units, 10 light bulbs, two desktop computers, two laptops, five phone chargers, five electric fans, and one internet modem for almost 12 hours.

Marcos lauded the USAID for providing the resources and expertise for the said projects.

“These projects have shown that the government cannot and should not solve all our problems alone, we must leverage the resources and minds available from the private, non-government, and international partners,” he said.

Meanwhile, Energy Secretary Raphael PM Lotilla said that the DOE is “proud to lead the way in transforming the energy landscape and building more resilient communities.”

“Investing in proactive measures that enhance resilience and ensure the continuity of essential services is crucial,” Lotilla added, thanking the USAID “for this enduring partnership that resulted in this significant breakthrough.”

According to the Philippine Atmospheric, Geophysical and Astronomical Services Administration, an average of 20 tropical cyclones enter the Philippine Area of Responsibility each year, with five of them being the most destructive.

With additional report by Lenie Lectura

THE READING MIND

By Henry J. Schumacher

I’VE always loved reading. Novels, history books, magazines, and newspapers of course (4 newspapers are delivered to me at 8 am daily— and I love it!) Reading has shaped the way I think and see the world in ways I cannot even fathom. I want to collect all the benefits of this uniquely human ability. And it turns out—reading is VERY good for our brain.

The Reading Mind

HUMANS are the only animals capable of reading, an invention that’s only been around for a few thousand years. That’s nowhere near enough time for our brains to have evolved dedicated circuitry for reading. And yet, somehow, specific brain areas are consistently associated with reading across different cultures. This puzzle, known as the “reading paradox,” has fascinated scientists for a while. How do humans learn to read in such a way that the same brain regions are activated regardless of where we grow up, and despite the fact that reading is too modern

to be the product of evolution? And what benefits can we get from regularly activating those parts of our brain by reading everyday?

Reading is a natural activity

RATHER than evolving entirely new brain circuits, reading likely piggybacks on systems that were originally designed for other purposes, such as brain regions that were initially devoted to recognizing visual patterns in nature.

For instance, the ability to distinguish between the shapes of different leaves or animals in nature may be repurposed to help us differentiate between letters such asbandd. Through exposure and practice, the brain’s existing circuitry is “recycled” for the task of reading text.

This means that reading is a natural activity for our brains. Our ancestors used to rely on their pattern recognition skills to read nature and now we use those same abilities to read text. And reading is actually great for our cognitive health and well-being.

Why you should read everyday

BECAUSE itactivelyengages your brain, reading is one of the healthiest hobbies for your mind. Not only is reading educational and informative, which is beneficial in itself, but it also rewires the connections in your brain, leading to many benefits:

1 Stress reduction

2 Mental stimulation

3 Memory improvement

4 Vocabulary expansion

5 Better focus

6 Improved brain connectivity

7 Stronger analytical skills

How to cultivate a reading habit

THERE are lots of other techniques to read more, but many rely on strong willpower or accountability, which may not be practical for everyone. Instead, here are two simple tips you can experiment with right away to make a habit of reading more:

Pick a book you’ll enjoy

Set a reading time and place

Reading can bring a lot of goodness to your brain and to your life. So next time you have a bit of free time, consider picking up a book instead of scrolling through videos on social media. And encourage your loved ones to read more—their brains will thank you.

In conclusion let’s add active listening to the reading exercises. In the area of social sensemaking, active listening takes centerstage. Pay close attention not only to the words being spoken but also how others process information—from reading to speaking. The ability to discern patterns, identify key influencers and understand underlying dynamics contributes significantly to a more comprehensive sensemaking process—from reading to listening and speaking…

Please let me have your feedback; email me at hjschumacher59@gmail.com

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Salary Range:

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The World

Iran’s attack on Israel escalates regional tensions, raising concerns of wider war

By Kareem Chehayeb The Associated Press

BEIRUT—Iran’s unprecedented attack on Israel early Sunday marked a change in approach for Tehran, which had relied on proxies across the Middle East since the start of the Israel-Hamas war in October. All eyes are now on whether Israel chooses to take further military action, while Washington seeks diplomatic measures instead to ease regional tensions.

Iran says the attack was in response to an airstrike widely blamed on Israel that destroyed what Iran says were consular offices in Syria and killed two generals with its paramilitary Revolutionary Guard earlier this month.

Israel said almost all the over 300 drones and missiles launched overnight by Iran were shot down by its anti-missile defense system, backed by the US and Britain. The sole reported casualty was a wounded girl in southern Israel, and a missile struck an Israeli airbase, causing light damage.

Still, the chief of Iran’s Revolutionary Guard called the operation successful.

Iran has managed to strike a balance between retaliating publicly for the strike in Damascus and avoiding provoking further Israeli military action at least initially, which could lead to a much wider conflict, said Mona Yacoubian, vice president of the Middle East and North Africa center at the US Institute of Peace.

“Both (Iran and Israel) are able at this point to claim victory and

step down off the precipice, particularly since there were no Israeli civilians killed,” Yacoubian said.

The world was still waiting, however, for the result of an Israeli War Cabinet meeting on Sunday.

Israeli hard-liners have pushed for a response, but others have suggested restraint, saying Israel should focus on strengthening budding ties with Arab partners.

“We will build a regional co-

Indian Prime Minister Modi accused of authoritarian tactics ahead of polls

By Aijaz Hussain & Sheikh Saaliq The Associated Press

NEW DELHI—Indian Prime Minister Narendra Modi and his government are increasingly wielding strong-arm tactics to subdue political opponents and critics of the ruling Hindunationalist party ahead of the nationwide elections that begin this week.

A decade into power, and on the cusp of securing five more years, the Modi government is reversing India’s decadeslong commitment to multiparty democracy and secularism.

The ruling Bharatiya Janata Party has brought corruption charges against many officials from its main rival, the Congress Party, but few convictions. Dozens of politicians from other opposition parties are under investigation or in jail. And just last month, Modi’s government froze the Congress party’s bank accounts for what it said was nonpayment of taxes.

The Modi administration says the country’s investigating agencies are independent and that its democratic institutions are robust, pointing to high voter turnout in recent elections that have delivered Modi’s party a clear mandate.

Yet civil liberties are under attack. Peaceful protests have been crushed with force. A once free and diverse press is threatened. Violence is on the rise against the Muslim minority. And the country’s judiciary increasingly aligns with the executive branch.

To better understand how Modi is reshaping India and what is at stake in an election that begins Friday and runs through June 1, The Associated Press spoke with a lawyer, a journalist, and an opposition politician.

Here are their stories:

Defending Modi’s critics

MIHIR DESAI has fought for the civil liberties and human rights of India’s most disadvantaged communities, such as the poor and Muslims, for nearly four decades. The 65-year-old lawyer from India’s financial capital Mumbai is now working on one of his— and the country’s—most high-profile cases: defending a dozen political activists, journalists and lawyers jailed in 2018 on accusations of plotting to overthrow the Modi government. The accusations, he says, are baseless—just one of the government’s all-too-frequent and audacious

efforts to silence critics.

One of the defendants in the case, a Jesuit priest and longtime civil rights activist, died at age 84 after about nine months in custody. The other defendants remain in jail, charged under anti-terror laws that rarely result in convictions.

“First authorities came up with a theory that they planned to kill Modi. Now they are being accused of being terrorist sympathizers,” he said.

The point of it all, Desai believes, is to send a message to any would-be critics.

According to digital forensics experts at USbased Arsenal Consulting, the Indian government hacked into the computers of some of the accused and planted files that were later used as evidence against them.

To Desai, this is proof that the Modi government has “weaponized” the country’s once-independent investigative agencies.

He sees threats to Indian democracy all around him. Last year, the government removed the country’s chief justice as one of three people who appoint commissioners overseeing elections; Modi and the opposition leader in parliament are the others. Now, one of Modi’s cabinet ministers has a vote in the process, giving the ruling party a 2-1 majority.

“It’s a death knell to free and fair elections,” Desai said.

A politician’s plight in Kashmir

WAHEEDURREHMAN PARA, 35, was long seen as an ally in the Indian government’s interests in Kashmir. He worked with young people in the majority-Muslim, semi-autonomous region and preached to them about the benefits of embracing India and its democratic institutions—versus seeking independence, or a merger with Pakistan.

Beginning in 2018, though, Para was viewed with suspicion by the Modi government for alleged connections to anti-India separatists. Since then, he has been jailed twice: in 2019 on suspicion that he and other political opponents could stoke unrest; and in 2020 on charges of supporting militant groups—charges he denies.

The accusations stunned Para, whose People’s Democratic Party once ruled Kashmir in an alliance with Modi’s party. But he believes the motivation was clear: “I was arrested to forcibly endorse the government’s 2019 decision,” he said, referring to a clampdown on the resistance in Kashmir after the elimination of the region’s semi-autonomous status.

Swedish Defense University.

Iran’s attack has further stoked fears of the war in Gaza causing regional havoc.

But Iran maintains that it does not seek all-out war across the region. Foreign Minister Hossein Amirabdollahian said in a post on X, formerly Twitter, that Iran has “no intention of continuing defensive operations” at this point unless it is attacked.

Iran stressed that it targeted Israeli facilities involved in the Damascus attack, not civilians or “economic areas.”

After Israel began its offensive in Gaza against Hamas, Iranbacked groups were involved militarily while Tehran sat on the sidelines. Lebanon’s Hezbollah group fired rockets into northern Israel.

Yemen’s Houthi rebels attacked Western ships on the Red Sea. An umbrella group of Iran-backed Iraqi militias attacked US military positions in Iraq and Syria.

alition and collect the price from Iran, in the way and at the time that suits us,” said Benny Gantz, a member of the War Cabinet.

Analysts say Iran sent a message that it would be willing to escalate and change its rules of engagement in its shadow war with Israel.

“It’s a warning shot, saying that if Israel breaks the rules, there are consequences,” said Magnus Ranstorp, strategic adviser at the

Modi’s administration argues the move was necessary to fully integrate the disputed region with India and foster economic development there.

After his 2020 arrest, Para remained in jail for nearly two years, often in solitary confinement, and was subjected to “abusive interrogations,’’ according to U.N. experts.

“My crime was that wanted the integration of Kashmir, not through the barrel of the gun,” said Para, who is seeking to represent Kashmir’s main city in the upcoming election.

Para sees his own plight within the larger context of the Modi government’s effort to silence perceived opponents, especially those with ties to Muslims, who make up 14% of India’s population.

“It is a huge ethical question … that the largest democracy in the world is not able to assimilate, or offer dignity to, the smallest pocket of its people,” he said. The campaign to turn once-secular India into a Hindu republic may help Modi win elections in the short term, Para said, but something much bigger will be lost.

“It risks the whole idea of this country’s diversity,” he said.

The Associated Press journalists Piyush Nagpal and Subramoney Iyer in Kerala, India, contributed to this report.

Now, Tehran is “willing to up the ante” without relying on proxies, said the director of the Carnegie Middle East Center, Maha Yahya.

Still, Iran only went so far.

“They gave enough warning that this was coming, and I think they knew that they (the drones and missiles) would be brought down before they reached Israeli territory,” Yahya said. She also noted that the recent

mounting pressure on Israel over its conduct in Gaza has now shifted to deescalating regional tensions instead.

Yacoubian says Washington has a critical role to play in avoiding further escalations.

Israel taking further military action does not seem popular among its allies including the United States, said Eldad Shavit, who heads the Israel-US Research Program at Israeli think tank the Institute for National Security Studies.

White House national security spokesman John Kirby told NBC that President Joe Biden does not want an escalation in the regional conflict or a “wider war” with Iran, and is “working on the diplomatic side of this personally.”

Urgent meetings of the G7—the informal gathering of industrialized countries that includes the United States, United Kingdom, and France—and the U.N. Security Council were being held Sunday.

G7 meeting participants in a statement unanimously condemned Iran’s attack, saying “we stand ready to take further measures now and in response to further destabilizing initiatives.”

TheAssociated Press writers Josef Federman in Jerusalem, Abby Sewell in Beirut, Amir Vahdat in Tehran and Thomas Adamson in Paris contributed to this report.

A CLERIC chants slogans during an anti-Israeli gathering in front of the British Embassy in Tehran, Iran, early Sunday, April 14, 2024. Iran launched its first direct military attack against Israel on Saturday. AP/VAHID SALEMI

The World

Israel secretive about its future actions against Iran, as well as partners that helped shoot down missiles

By Tia Goldenberg & Josef Federman The Associated Press

TEL AVIV, Israel—Israeli leaders on Sunday credited an international military coalition with helping thwart a direct Iranian attack involving hundreds of drones and missiles, calling the coordinated response a starting point for a “strategic alliance” of regional opposition to Tehran.

But Israel’s War Cabinet met without making a decision on next steps, an official said, as a nervous world waited for any sign of further escalation of the former shadow war.

The military coalition, led by the United States, Britain and France and appearing to include a number of Middle Eastern countries, gave Israel support at a time when it finds itself isolated over its war against Hamas in Gaza. The coalition also could serve as a model for regional relations when that war ends.

“This was the first time that such a coalition worked together against the threat of Iran and its proxies in the Middle East,” said the Israeli military spokesman, Rear Adm. Daniel Hagari.

One unknown is which of Israel’s neighbors participated in the shooting down of the vast majority of about 350 drones and missiles Iran launched. Israeli military officials and a key War Cabinet member noted additional “partners” without naming them. When pressed, White House national security spokesman John Kirby would not name them either.

But one appeared to be Jordan, which described its action as self-defense.

“There was an assessment that there was a real danger of Iranian marches and missiles falling on Jordan, and the armed forces dealt with this danger. And if this danger came from Israel, Jordan would take the same action,” Jordanian Foreign Minister Ayman al-Safadi said in an interview on Al-Mamlaka state television. US President Joe Biden spoke with Jordan’s King Abdullah on Sunday.

The US has long tried to forge a regionwide alliance against Iran as a way of integrating Israel and boosting ties with the Arab world.

The effort has included the 2020 Abraham Accords, which established diplomatic relations between Israel and four Arab countries, and having Israel in the US military’s Central Command, which oversees operations in the Middle East and works closely with the armies of moderate Arab states.

The US had been working to establish full relations between Israel and regional heavyweight Saudi Arabia before the October 7 Hamas attack sparked Israel’s war in Gaza. The war, which has claimed over 33,700 Palestinian lives, has frozen those efforts due to widespread outrage across the Arab world. But it appears that

some behind-the-scenes cooperation has continued, and the White House has held out hopes of forging Israel-Saudi ties as part of a postwar plan.

Just ahead of Iran’s attack, the commander of CENTCOM, Gen. Erik Kurilla, visited Israel to map out a strategy.

Israel’s military chief, Lt. Gen. Herzi Halevi, on Sunday thanked CENTCOM for the joint defensive effort. Both Jordan and Saudi Arabia are under the CENTCOM umbrella. While neither acknowledged involvement in intercepting Iran’s launches, the Israeli military released a map showing missiles traveling through the airspace of both nations.

“Arab countries came to the aid of Israel in stopping the attack because they understand that regional organizing is required against Iran, otherwise they will be next in line,” Amos Yadlin, a former head of Israel’s military intelligence, wrote on X, formerly Twitter.

Israel’s defense minister, Yoav Gallant, said he had spoken with US Defense Secretary Lloyd Austin

and that the cooperation “highlighted the opportunity to establish an international coalition and strategic alliance to counter the threat posed by Iran.”

The White House signaled that it hopes to build on the partnerships and urged Israel to think twice before striking Iran. US officials said Biden told Israeli Prime Minister Benjamin Netanyahu that Washington would not participate in any offensive action against Iran.

Israel’s War Cabinet met late Sunday to discuss a possible response, but an Israeli official familiar with the talks said no decisions had been made. He spoke on condition of anonymity because he was discussing confidential deliberations.

Asked about plans for retaliation, Hagari declined to comment directly. “We are at high readiness in all fronts,” he said. “We will build a regional coalition and collect the price from Iran, in the way and at the time that suits us,” said a key War Cabinet member, Benny Gantz.

Iran launched the attack in re-

Biden to host Iraqi PM as Mideast tensions soar,

raising

more questions about US troop presence

By Matthew Lee & Qassim Abdul-Zahra The Associated Press

WASHINGTON — President Joe Biden is set to host Iraq’s leader this week for talks that come as tensions across the Middle East have soared over the war in Gaza and Iran’s unprecedented weekend attack on Israel in retaliation for an Israeli military strike against an Iranian facility in Syria. The sharp rise in security fears has raised further questions about the viability of the two-decade American military presence in Iraq, through which portions of Iran’s Saturday drone and missile attack on Israel flew or were launched from. A US Patriot battery in Irbil, Iraq, knocked down at least one Iranian ballistic missile, according to American officials.

In addition, Iranian proxies have initiated attacks against US interests throughout the region from inside Iraq, making Monday’s meeting between Biden and Iraqi Prime Minister Shia al-Sudani all the more critical. The talks will include a discussion of regional stability and future US troop deployments but will also focus on economic, trade and energy issues that have become a major priority for Iraq’s government, according to US officials.

Biden and Defense Secretary Lloyd Austin are both expected to address the US troop presence in meetings with al-Sudani.

“It is not the primary focus of the visit...but

it is almost certainly going to come up,” one senior US official said last week.

The US and Iraq began formal talks in January about ending the coalition created to help the Iraqi government fight the Islamic State, with some 2,000 US troops remaining in the country under an agreement with Baghdad. Iraqi officials have periodically called for a withdrawal of those forces.

The two countries have a delicate relationship due in part to Iran’s considerable sway in Iraq, where a coalition of Iranbacked groups brought al-Sudani to power in October 2022.

The US in recent months has urged Iraq to do more to prevent attacks on US bases in Iraq and Syria that have further roiled the Middle East in the aftermath of Hamas’ October 7 attack on Israel. Iran’s weekend attacks on Israel through Iraqi airspace have further underscored US concerns, although al-Sudani had already left Baghdad and was en route to Washington when the drones and missiles were launched.

The US has also sought to apply financial pressure over Baghdad’s relationship with Tehran, restricting Iraq’s access to its own dollars in an effort to stamp out money laundering said to benefit Iran and Syria. Most previous Iraqi prime ministers have visited Washington earlier in their tenure.

Al-Sudani’s visit was delayed because of tensions between the US and Iran and regional escalation, including the Gaza war and the killing of three US soldiers in

Jordan in a drone attack in late January. That was followed by a US strike that killed a leader in the Kataib Hezbollah militia whom Washington accused of planning and participating in attacks on US troops. Al-Sudani came to power in late 2022 after a power struggle between prominent Shiite cleric and political leader Muqtada Sadr and opposing Shiite factions that are close to Iran after the 2021 elections. Sadr ultimately withdrew from the political process, giving the opportunity to the remaining Shia politicians to form a government headed by al-Sudani.

Since then, al-Sudani has attempted to maintain a balancing act between Iran and America despite being seen as being close to Tehran and despite several incidents that have put his government in an embarrassing position in relation to Washington.

Early in al-Sudani’s term, a US citizen, Stephen Edward Troell, was shot and killed by armed men who accosted him as he pulled up to the street where he lived in Baghdad’s central Karrada district with his family. An Iraqi criminal court convicted five men last August and sentenced them to life in prison in the case, which officials described as a kidnapping gone wrong.

A few months later, Elizabeth Tsurkov, an Israeli-Russian doctoral student at Princeton, was kidnapped while doing research in Iraq. Al-Sudani’s visit will come about a year after Tsurkov’s abduction. She is believed to be held by Kataib Hezbollah.

sponse to a strike widely blamed on Israel that hit an Iranian consular building in Syria this month and killed two Iranian generals. By Sunday morning, Iran said the attack was over, and Israel reopened its airspace. Iran’s president, Ebrahim Raisi, claimed Iran had taught Israel a lesson and warned that “any new adventures against the interests of the Iranian nation would be met with a heavier and regretful response from the Islamic Republic of Iran.” The foes have been engaged in a shadow war for years, but Sunday’s assault was the first time Iran launched a direct military assault on Israel, despite decades of enmity dating back to the country’s 1979 Islamic Revolution.

Iran said it targeted Israeli facilities involved in the Damascus strike, and that it told the White House early Sunday that the operation would be “minimalistic.”

But US officials said Iran’s intent was to “destroy and cause casualties” and that if successful, the strikes would have caused an “uncontrollable” escalation. At one point, at least 100 ballistic missiles were in the air with just minutes of flight time to Israel, the officials said.

Israel said more than 99 percent of what Iran fired was intercepted, with just a few missiles getting through. An Israeli airbase sustained minor damage.

Israel has over the years established—often with the help of the US—a multilayered air-defense network that includes systems capable of intercepting a variety of threats, including long-range missiles, cruise missiles, drones and short-range rockets.

That system, along with collaboration with the US and others, helped thwart what could have been a far more devastating assault at a time when Israel is already deeply engaged in Gaza as well as low-level fighting on its northern border with Lebanon’s Hezbollah

militia. Both Hamas and Hezbollah are backed by Iran.

While thwarting the Iranian onslaught could help restore Israel’s image after the Hamas attack in October, what the Middle East’s best-equipped army does next will be closely watched in the region and in Western capitals—especially as Israel seeks to develop the coalition it praised Sunday.

In Washington, Biden pledged to convene allies to develop a unified response. Secretary of State Antony Blinken said the US would hold talks with allies. After an urgent meeting, the Group of Seven countries unanimously condemned Iran’s attack and said they stood ready to take “further measures.”

Israel and Iran have been on a collision course throughout Israel’s war in Gaza. In the October 7 attack, militants from Hamas and Islamic Jihad, also backed by Iran, killed 1,200 people in Israel and kidnapped 250 others. Israel’s offensive in Gaza has killed over 33,000 people, according to local health officials.

Hamas welcomed Iran’s attack, saying it was “a natural right and a deserved response” to the strike in Syria. It urged the Iran-backed groups in the region to continue to support Hamas in the war.

Hezbollah also welcomed the attack. Almost immediately after the war in Gaza erupted, Hezbollah began attacking Israel’s northern border. The two sides have been involved in daily exchanges of fire, while Iranian-backed groups in Iraq, Syria and Yemen have launched rockets and missiles toward Israel.

Federman reported from Jerusalem. Associated Press writers Zeke Miller and Michelle L. Price in Washington; Amir Vahdat in Tehran, Iran; Samy Magdy in Cairo; Omar Akour in Amman, Jordan; and Giada Zampano in Rome contributed to this report.

The senior US official said Tsurkov’s case would also be raised.

“We are concerned by and closely tracking this case,” the official said. “We have strongly condemned her abduction. We’ve urged ... and continue to urge senior Iraqi officials to find Elizabeth and to secure her release as soon as possible.”

Al-Sudani started his term with promises to focus on economic development and fight corruption, but his government has faced economic difficulties, including a discrepancy in the official and market exchange rates between the Iraqi dinar and the US dollar.

The currency issues came in part as a result of a US tightening of the dollar supply to Iraq, as part of a crackdown on money laundering and smuggling of funds to Iran. The US has disallowed more than 20 Iraqi banks from dealing in dollars as part of the campaign.

The al-Sudani government recently renewed Iraq’s contract to purchase natural gas from Iran for another five years, which could lead to American displeasure.

The Iraqi prime minister will return to Iraq and meet with the Turkish president following his trip to Washington, which could finally lead to a solution to a longrunning dispute over exports of oil from Kurdish areas of Iraq to Turkey. Washington has sought to get the flow of oil to resume.

Abdul-Zahra reported from Baghdad. Eric Tucker in Washington contributed.

More civilians die in Ukraine as analysts warn that delays in US aid will hamper Kyiv’s forces

KYIV, Ukraine—More civilians died across Ukraine on Sunday as analysts warned that delays in US military assistance would see Kyiv struggle to fight off Russian offensives.

One man was Sunday killed after a Russian drone hit the truck he was driving in the Sumy region, the local prosecutor’s office said. Elsewhere, a 67-year-old woman was killed after shelling hit an apartment block in the Donetsk region, said Gov. Vadym Filashkin.

Officials in the Kharkiv region also said Sunday that they had retrieved the bodies of a 61-year-old woman and a 68-year-old man killed by a Russian strike the previous day. Ten Russian Shahed-type drones were shot down over the Kharkiv region overnight, the Ukrainian Air Force said Sunday.

Meanwhile, shelling in the Russianoccupied Kherson region killed two civilians Sunday, said Moscow-installed leader Vladimir Saldo. Ukrainian drones were also

reported in Russia’s Krasnodar and Belgorod regions and over the Black Sea, the Russian Defense Ministry said.

The news came as the Institute for the Study of War, a Washington-based think tank, warned that delays in Western military assistance would increasingly hamper Ukraine’s ability to push back Russian advances.

With the war in Ukraine entering its third year and a vital US aid package for Kyiv stuck in Congress, Russia has used its edge in firepower and personnel to step up attacks across eastern Ukraine. It has increasingly used satellite-guided gliding bombs—dropped from planes from a safe distance—to pummel Ukrainian forces beset by a shortage of troops and ammunition.

In its report, the ISW said that Russian forces were prioritizing grinding, tactical gains with operational-level efforts focusing on the cities of Lyman, Chasiv Yar, and Pokrovsk. AP

AN elderly ultra-Orthodox Jewish man looks on as he walks in the Mahane Yehuda market in Jerusalem on Sunday, April 14, 2024. Israel on Sunday hailed its air defenses in the face of an unprecedented attack by Iran, saying the systems thwarted 99 percent of the more than 300 drones and missiles launched toward its territory. AP/LEO CORREA

UKRAINIAN refugees, playing roles of Ukrainian war prisoners, sing their country’s national anthem at the end of an event in Bucharest, Romania on Saturday, April 13, 2024. Members of the Ukrainian refugee community staged an event dubbed “Voices of Captives” to raise awareness to the plight of Ukrainian servicemen and civilians still in Russian custody. AP/VADIM GHIRDA

The World

World leaders urge Israel not to retaliate for the Iranian drone and missile attack

By The Associated Press

UNITED NATIONS—The United Nations Security Council held an emergency meeting Sunday to discuss Iran’s attack on Israel. The meeting ended without any action by the council.

“Now is the time to defuse and de-escalate,” UN Secretary-General António Guterres said. “Now is the time for maximum restraint.”

Israeli Ambassador Gilad Erdan told the council: “Last night, the world witnessed an unprecedented escalation that serves as the clearest proof for what happens when warnings aren’t heeded. Israel is not the boy who cried wolf.”

Iranian Ambassador Saeid Iravani said: “Iran’s operation was entirely in the exercise of Iran’s inherent right to self-defense. This concluded action was necessary and proportionate.

US deputy ambassador Robert Wood said after the meeting ended, “There has to be a Security Council response to what happened last night.”

World leaders are urging Israel not to retaliate after Iran launched

an attack involving hundreds of drones, ballistic missiles and cruise missiles.

British Foreign Secretary David Cameron told the BBC on Monday the UK does not support a retaliatory strike, while French President Emmanuel Macron said Paris will try to “convince Israel that we must not respond by escalating.”

The Iranian attack on Saturday, less than two weeks after a suspected Israeli strike in Syria that killed two Iranian generals in an Iranian consular building, marked the first time Iran has launched a direct military assault on Israel, despite decades of enmity dating back to the country’s 1979 Islamic Revolution.

An Israeli military spokesman said that 99 percent of the drones and missiles launched by Iran were intercepted.

Landslides hit Indonesia’s Sulawesi Island, killing at least 18 people

TANA TORAJA, Indonesia—A search and rescue team found 18 people killed by landslides on Indonesia’s Sulawesi Island and are still looking for two missing, officials said Monday.

Rescuers found about 14 bodies in Makale village on Sunday afternoon and four in South Makale, said Mexianus Bekabel, the chief of Makassar Search and Rescue.

Israel and Iran have been on a collision course throughout Israel’s six-month war against Hamas militants in the Gaza Strip. The war erupted after Hamas and Islamic Jihad, two militant groups backed by Iran, carried out a devastating crossborder attack on October 7 that killed 1,200 people in Israel and kidnapped 250 others.

An Israeli offensive in Gaza has caused widespread devastation and killed over 33,700 people, according to local health officials.

Scholz calls on Israel to “contribute to de-escalation”

GERMAN Chancellor Olaf Scholz is calling on Israel to “contribute to de-escalation” in the Middle East following Iran’s attack on the country.

Scholz told reporters in Shanghai on Monday “Iran must stop this aggression.”

Asked whether he will attempt to dissuade Israeli Prime Minister Benjamin Netanyahu from a military response to Saturday night’s attack, he said there’s widespread agreement that Israel’s success in largely repelling the attack with allies’ help was “really impressive.”

He added that “this is a success that perhaps also should not be thrown away. Hence also our advice to contribute to de-escalation themselves.”

Germany is a staunch ally of Israel.

African governments urge Israel, Iran to avoid escalation SOME African governments are urging Israel and Iran to avoid an escalation of the conflict.

While Iran’s attack on Israel “represents a real and present threat to international peace and security,” Israel should “show utmost restraint” in its response, President William Ruto of Kenya said in a statement posted on social platform X.

The warring parties “must exercise the utmost restraint and avoid any act that would escalate tensions in a particularly fragile region,” South Africa’s government said in a statement Sunday.

Nigeria’s Foreign Ministry urged Israel and Iran to “reflect on the universal commitment to peaceful resolution of conflicts.”

Britain urges Israel to avoid striking back at Iran

BRITISH Foreign Secretary David Cameron has urged Israel “to be smart as well as tough” and avoid striking back at Iran in response to its drone and missile barrage.

Cameron told the BBC that the UK does not support a retaliatory strike. The UK’s top diplomat said the attack had been a defeat for Iran and echoed President Joe Biden, who urged Israel to “take the win.”

Cameron said Britain’s message to Israel is: “Now is the time to be smart as well as tough, to think with head as well as heart.”

He said British fighter jets had played an “important part” in shooting down some of the more than 300 ballistic missiles, cruise missiles and drones fired at Israel from Iran, but did not provide details.

Macron: “Disproportionate response”

FRENCH President Emmanuel Macron said Iran’s attack on Israel was a “disproportionate response” to the bombing of its consulate in the Syrian capital, Damascus. Firing a barrage of missiles and drones on Israel was an “unprecedented, very dangerous” act in the volatile Middle East, Macron said of Saturday’s attacks.

Speaking to French media BFMTV and RMC on Monday, Macron said that France had carried out “interceptions” of missiles that Iran aimed at Israel at the request of Jordan. “We have condemned, we have intervened, we will do everything to avoid an escalation, an inferno,” Macron said.

He said France will try to “convince Israel that we must not respond by escalating.”

Instead of retaliating by attacking Tehran, France will work to “isolate Iran, increase sanctions and find a path to peace in

Lightning, rains kill 36 people in Pakistan as authorities declare state of emergency

By Munir Ahmed The Associated Press

ISLAMABAD—Lightning and heavy rains have killed at least 36 people, mostly farmers, across Pakistan in the past three days, officials said Monday, as authorities in the country’s southwest declared a state of emergency.

Most of the deaths occurred when lightning struck farmers harvesting wheat and rains caused houses to collapse in eastern Punjab province, said Arfan Kathia, a spokesman for the provincial disaster management authority. He said more rains were expected this week.

the region,” Macron said.

G7 countries condemn Iran’s attack on Israel

LEADERS of the G7—the informal gathering of industrialized countries that includes the United States, United Kingdom and France—issued a statement Sunday “unequivocally condemning in the strongest terms Iran’s direct and unprecedented attack against Israel.”

The statement came after the leaders met in a video conference hosted by the Italian presidency.

“Iran fired hundreds of drones and missiles towards Israel. Israel, with the help of its partners, defeated the attack,” the statement reads. “We express our full solidarity and support to Israel and its people and reaffirm our commitment towards its security.”

The group also stressed that Iran “with its actions, has further stepped toward the destabilization of the region and risks provoking an uncontrollable regional escalation.”

The G7 leaders said that scenario must be avoided.

“We will continue to work to stabilize the situation and avoid further escalation. In this spirit, we demand that Iran and its proxies cease their attacks, and we stand ready to take further measures now and in response to further destabilizing initiatives,” they said.

for Natural Disaster Management.

More than 600 houses were either damaged or destroyed while around 200 livestock died. The flooding also damaged large areas of agricultural land and more than 85 kilometers (53 miles) of roads, he said.

He said authorities in Afghanistan had provided aid to nearly 23,000 families, and that flash floods were reported in 20 out of the country’s 34 provinces.

Rafay Alam, a Pakistani environmental expert, said that such heavy April rainfall is unusual.

Rains, which also lashed the capital Islamabad, killed seven people in southwestern Baluchistan province over the weekend, and eight others died in northwestern Khyber Pakhtunkhwa province bordering Afghanistan. Authorities in Baluchistan declared a state of emergency.

Dozens of soldiers, police and volunteers joined the search in the remote hillside villages of Makale and South Makale, Mundu said.

Rescuers early Sunday managed to pull out two injured people, including an 8-year-old girl, and rushed them to a nearby hospital. Downed communications lines, bad weather and unstable soil were hampering the rescue efforts, Muhari said.

Tana Toraja has many popular tourist attractions, including a traditional houses and wooden statues of bodies buried in caves, known as tau-tau.

Seasonal downpours cause frequent landslides and floods in Indonesia, a chain of 17,000 islands where millions of people live in mountainous areas or

“We are still looking for two more victims, but fog and drizzle made the search difficult and officers in the field were overwhelmed,” Sulaiman Malia, chief of the Tana Toraja district Disaster Management Agency, said on Monday. Loosened by torrential rain, mud poured from surrounding hills onto four houses just before midnight Saturday in the Tana Toraja district of South Sulawesi province, said local police chief Gunardi Mundu. He said a family gathering was being held in one of the houses when the landslide hit.

Prime Minister Shehbaz Sharif said in televised remarks that he had ordered authorities to provide relief aid in regions hit by rains. Pakistan’s water reservoirs would improve because of the rains, he said, while expressing concern

over the deaths and damage.

Heavy flooding from seasonal rains in Afghanistan has killed 33 people and injured 27 others in the past three days, according to Abdullah Janan Saiq, the Taliban’s spokesman for the State Ministry

Top diplomats meet in Paris to mobilize aid for Sudan, wrecked by war and starvation

PARIS—A yearlong war in Sudan has devastated the country and pushed its people to the brink of famine. Top diplomats and aid groups are meeting Monday in Paris to drum up humanitarian support for the northeastern African nation to prevent further collapse and misery.

Sudan descended into conflict in April last year when simmering tensions between the military and the paramilitary Rapid Support Forces exploded into open fighting in the capital, Khartoum and elsewhere across the country. The UN humanitarian campaign

needs some $2.7 billion this year to get food, health care and other supplies to 24 million people in Sudan—nearly half its population of 51 million. So far, funders have given only $145 million, about 5 percent, according to the UN’s humanitarian office, known as OCHA.

The United States and Saudi Arabia initially led efforts to find a negotiated way out of the conflict. But the efforts didn’t succeed, and since October the fighting has been overshadowed by the Israel-Hamas war in Gaza, which is threatening to expand to a broader regional conflict. Relief workers, meanwhile, warn

that Sudan is hurtling towards an even larger-scale calamity of starvation, with potential mass death in the coming months. Food production and distribution networks have broken down and aid agencies are unable to reach the worst stricken regions.

The conflict has also been marked by widespread reports of atrocities including killings, displacement and rape, particularly in the area of the capital and the western region of Darfur.

At least 37 percent of the population at crisis level or above suffer from hunger, according to OCHA.

“Two years ago, Pakistan witnessed a heat wave in March and April and now we are witnessing rains and it is all of because of climate change, which had caused heavy flooding in 2022,” he said. In 2022, downpours had swelled rivers and at one point inundated one-third of Pakistan, killing 1,739 people. The floods also caused $30 billion in damage.

The Associated Press writers Rahim Faiez in Islamabad, Riaz Khan in Peshawar, Babar Dogar in Lahore and Abdul Sattar in Quetta contributed to this report.

Save the Children warned that about 230,000 children, pregnant women and newborn mothers could die of malnutrition in the coming months.

Nearly 9 million people have been forced to flee their homes either to safer areas inside Sudan or to neighboring countries, according to the United Nations. The military, headed by Gen. Abdel-Fattah Burhan, and the RSF, commanded by Gen. Mohammed Hamdan Dagalo, have carved up Khartoum and trade indiscriminate fire at each other. In 2021, Burhan and Dagalo were uneasy allies who led a military coup. They toppled an internationally recognized civilian government that was supposed to steer Sudan’s democratic transition. AP

Examining PHL’s job creation efforts and forging a path forward editorial

THE country’s recent employment data has sparked both optimism and concern among citizens. While the numbers indicate some improvement, it is clear that the pace of job creation is falling short of expectations. Despite the modest increase in the number of employed individuals, the latest report reveals that job generation remains below target, raising questions about the effectiveness of the government’s efforts to address unemployment and alleviate poverty. (Read the BusinessMirror report: “Jobs generation remains below govt target—Ibon,” April 15, 2024).

decent standard of living.

The government’s Labor and Employment Plan 2023-2028 aimed to generate over three million obs, averaging over 500,000 jobs annually. However the current data suggests that job creation has been weak, and the decline in the number of unemployed individuals may be attributed to discouraged workers who have stopped actively seeking employment. It is disheartening to note that the labor force participation rate has also decreased, indicating a lack of optimism among job seekers.

Furthermore, Ibon Foundation highlights the prevalence of informal workers, estimating their number to be 20.4 million, representing 41.6 percent of the total employed individuals as of Februar y 2024. This includes domestic workers, self-employed individuals, and workers in family-owned farms and businesses, many of whom are unpaid family workers. The high proportion of informal workers underscores the urgent need to create more stable and decent jobs that offer fair wages and benefits.

The fight against poverty requires a comprehensive approach, and ob creation plays a pivotal role in this endeavor As Luther Strange aptly stated, “A job is the best cure for poverty.” Meaningful employment not only provides individuals with financial security but also fosters personal growth, dignity, and a sense of pur pose.

To help address the pressing issue of ob creation, economists have advocated for the implementation of employment-focused fiscal policies. They cited the need to adopt fiscal strategies that prioritize job creation and economic growth This includes targeted investments in infrastructure, education, and innovation, which can generate employment opportunities in various sectors.

Micro, small and medium-sized enter prises play vital roles in job creation. Thus, policymakers should introduce initiatives such as tax incentives, streamlined regulations, and access to affordable credit. These measures can empower MSMEs to expand their operations, hire more workers, and contribute significantly to economic recover y.

Economists also cited the need for enhanced skills development programs that align with emerging ob market demands. Government collaboration with educational institutions and industr y experts can help ensure that our workforce is equipped with the necessar y skills to meet evolving industr y requirements.

Economists have also cited the need to foster a supportive environment for entrepreneurship and innovation, which can stimulate job creation and economic dynamism. Measures such as startup incubators, research grants, and simplified business regulations can empower aspiring entrepreneurs to create new ventures and generate employment opportunities.

Furthermore, there’s a need to strengthen labor market policies. This approach emphasizes the importance of robust labor market policies that safeguard workers’ rights, ensure fair wages, and promote inclusive employment practices. It also includes the needed review of labor laws to adapt to changing work dynamics, including the rise of remote work and gig economy platforms.

It is imperative for the government to acknowledge the urgency of the situation and take decisive action to address the persisting job crisis. Merely relying on marginal improvements in employment figures will not suffice. The nation’s progress hinges on the creation of sustainable and meaningful employment opportunities that empower individuals and drive inclusive economic growth By prioritizing job creation, we can forge a brighter future for all Filipinos and turn the tide against poverty.

TJohn Mangun

The wave is coming OUTSIDE THE BOX

HREE weeks from now two events will take place. They are not connected but it is interesting. Vladimir Putin’s next presidential inauguration is set for May 7, 2024. In addition, there will be another minor peak in Wave 935 of the Economic Confidence Model, which incidentally began on January 18, 2020.

Trending on Januar y 18th 2020 on Twitter, the Internet in general, and on Soc i al Med i a: “Women’s March 2020,” “NFL Playoffs schedule” and “Coronavirus.” On page 10 of the New York Times was an article, “Three US.A ir ports to Check Passengers for a Deadly C hinese Coronavirus.”

I w rote several times in 2019 that this turning point would bring a wave of Economic Chaos, my last column on the subject published in September 2019.

T he current year 2024, is the “Year of Uncertainty.” The coming minor peak of wave 935 begins a “downtrend” until the beginning of

wave 936 on August 15, 2028. Never fear I fully intend to be around for that day.

T he wave patter n that we are experiencing now is the same—a minor peak w ith a major wave tur ning point to follow—that I war ned about in mid-2015, which happened in October 2015. T hat minor tuning point created a time of Political Chaos in 2016, best i llustrated by the words “Duter te, Brex it, Trump.” A year before the votes were cast, those three outcomes were a delusional fantasy.

Then came wave 935 and “The Virus” in 2020. Note that 2016 to 2020 is four years, as is 2024 to 2028.

“The Year of Uncertainty.” Politics is always expected to be chaotic and always in a state of flu x because it is run on emotions. Unsur prisingly, those emotions are greed and fear There is the “greed” of wanting to have (or keep) power and the “fear of losing that power if you do have it. Therefore, any government policy that is political in nature—meaning unquestionably to get votes—has a short-term motivation normally without any concern for future consequences. But economic policies are supposed to be for the long term. External forces that influence policy are normal and often difficult to predict and even harder to adapt to. Nonetheless, mistakes have to be corrected without any regard to the “politics.”

The US Consumer Price Index in the 24 months prior to the start of the tightening cycle in March 2022

increased by 11.4 percent. In the 24 months since the start of the tightening cycle, the CPI is up 8.6 percent.

Something is not right.

T he i nflat ion r ate i n t he US peaked in June 2022. Post-pandemic GDP growth peaked in the fourth quarter 2021. But inflation has not retur ned to pre-pandemic levels. Something is not right. It was firmly expected that the Federal Reser ve would reduce interest rates by the first quarter of 2024 or as ING bank said on December 1, 2023, “The Fed will start cutting interest rates in the second quarter of next year delivering as many as six 25-basis-point rate cuts totaling 150 basis points.”

December 12, 2023: “Fut ures ma rkets pred ict four to f ive qu a rter-point rate c uts in 2024.” American f i nanc i al ser v ices f ir m Mor ni ngsta r on Decembe r 15, 202 3: “We pred ict 6 i nterest-rate c uts i n 2024.” Januar y 15, 2024: “Goldman

Sac hs expects t he Fed to c ut i nterest rates 5 t i mes t his yea r sta r t i ng i n Ma rc h.”

Now, April 9, 2024: “Markets are pricing in two quarter-point or less rate cuts by the Fed in 2024.” Two takeaways. Fede r al Re-

Iran’s attack on Israel sparks race to avert a full-blown war

By Fiona MacDonald, Jennifer Jacobs, Donato Paolo Mancini & Golnar Motevalli

THE huge salvo of missiles and drones launched from the arid plains of Iran toward Israel was the kind of direct conflict between the Middle East powers that the world had long feared would mark the explosion of a full-blown regional war.

But behind the unprecedented nature of the attack was a dance of diplomatic signaling that allowed both sides to claim success, raising the risk of a broader conflict without making it a certainty.

The Israeli militar y said 99 percent of the barrage was shot down and no Israelis were killed after Iran had signaled for days it was coming. Tehran said it had made its point, seeking to put the march toward a wider conflagration on hold. Israel’s backers in the US and Europe were also pressing to avoid any further escalation in calls on Sunday.

For all the steps toward the brink since Hamas attacked Israel on Oct. 7, the Jewish state and its enemies have managed to stop short of the precipice, even as violence has spread to other countries in the Middle East.

W hat changed over the weekend is that the latest US-led diplomatic effor ts—unti l now focused on deescalating the crisis in Gaza—are being targeted at ensuring any response from Israel is measured, according to people fami liar w ith the discussions.

US officials, speaking on condition of anonymity, said while the attack was meant to be deadly and dest ruct ive, Washi ngton i s urging Israel against retaliation. The concern, though  is that logic might not prevail, according to a person familiar with the discussions. Indeed, one wildcard is the pressure on Israeli Prime Minister Benjamin Netanyahu from hardliners in his government, though the success in defeating the Iranian strike may strengthen his hand. The attack by Iran was “ver y calibrated” to limit the damage, said Sanam Vakil, director of the Middle East & North Africa Program at Chatham House. Still, she said, “we’re closer than ever to a broader regional war.”

Iran’s latest assault was a dramatic escalation, with the hardline government striking directly for the first time after decades relying on proxies like Hamas and Hezbollah to fight a shadow war with its main regional rival.

It showed with the massive barrage that it was ready to challenge

Israel’s superior militar y head on, something no other power had dared to do for decades. The US moved ships and planes into position and vowed to help protect Israel. The UK and Jordan were also involved.

Oil markets steadied on Monday after Israel repulsed the attack but the prospect of $100 for a barrel of oil is now looming again, while Bloomberg Economics predicts a direct war between Israel and Iran would thrust the world economy into recession.

But Iran, seeking to avoid a spiraling conflict w ith Israel’s superior militar y, preceded the operation with days of public and private warnings. Its officials described its intent to retaliate to countries in the region, according to a person with knowledge of the briefings, a move that enabled this message to reach the US indirectly. American officials said there was no direct warning to the US.

Though the damage was limited, Iranian officials touted the operation as a successful retaliation for an April 1 attack on a diplomatic compound in Damascus that killed several of Iran’s militar y commanders. Iran blamed that hit on Israel, whose government hasn’t taken responsibility. On Sunday, Israel was also celebrating hav ing defeated the onslaught, able to demonstrate again the countr y’s militar y prowess in downing the missiles and protecting its citizens following criticism

in the wake of the Hamas attack six months ago. For Netanya hu t here’s also a renewed demonst r at ion of s upport from the US and its allies after months of escalating public criticism of Israel’s deadly militar y operation in Gaza, including from President Joe Biden. Congressional leaders are planning a long-delayed

What’s next for crude oil? Analysts weigh in after Iran’s attack

By Yongchang Chin & Sharon Cho

OIL futures were barely moved by Iran’s unprecedented attack on Israel, with traders attributing the lackluster price action to expectations that the conflict would remain contained. As Israel weighs its response to the assault, here’s what market watchers are saying about the outlook:

‘Risk premium’—Goldman Sachs

“WE estimate that oil prices already reflect a $5-to-$10-a-ba rrel risk premium from downside risks to supply,” before the weekend attacks by Iran, Goldman Group Sachs Inc. analysts including Daan Struyven said in a note. “The potential Israeli response to Iran’s attack is highly uncertain and will likely determine the extent of threat to regional oil supply.” Iranian crude production has risen by more than 20 percent, over the past two years to 3.4 million barrels a day, or about 3 3 percent of global supply, the analysts said. So, “ if the market were to price a higher probability of reduced Iran supply, then this could contribute to a higher geopolitical risk premium,” they said.

‘Already priced in’—ING Groep “THE market had already priced in some form of attack, while limited damage and no loss of life means the potential for a more measured response from Israel,” ING Groep NV strateg ists Warren Patterson and Ewa Manthey said in a note. “How Israel responds is now the key uncertainty.” For oil, “the first risk is that oil sanctions are more strictly enforced against Iran, which could see anywhere between 500,000 to one million barrels a day of oil supply lost,” they said. Other possible outcomes include Israel attacking Iranian energy infrastructure or Iran blocking the Strait of Hormuz.

‘To the shadows’—RBC Capital Markets

THE response from Israel’s government to Iran’s attack will determine whether the situation leads to a wider war or whether the risks of escalation abate, according to RBC Capital Markets LLC analysts including Helima Croft. A significant Israeli retaliation could trigger a destabilizing cycle, they said.

“In suc h a scena rio, we t hi nk

CWT refund or carry-over?

ively

/3 .5 pe r cent),

t he ri sk to oi l i s not i nsign i f icant g iven t he I r an i an se i z ure of t he vessel i n t he St ra it of Hor mu z t h at preceded t he m i ssi le and d rone attacks,” t he analysts sa id. St i ll, “ i f Isr ael stands down or ca rries out a de m i n i m i s response, it seems t h at I r an m ig ht ver y well take t he oppor t u n ity to ret ur n t hi s wa r to t he sh adows.”

‘Escalation is unlikely’—ANZ Banking Group

“THE fact that the attack was so wellteleg raphed suggests any f ur ther escalation is unlikely,” said Daniel Hynes, senior commodity strategist at ANZ Banking Group Ltd. “The geopolitical risk premium is also elevated, so it doesn’t warrant any further gains until Israel’s response to this attack is clear.”

“The market needs to see further evidence that supply is at greater risk before pushing prices higher,” he added.

‘Sigh of relief’—Again Capital

“THE oil market can breathe a sigh of relief, at least for now,” said John K ilduff, founding partner of Again Capital LLC. “There was lots of buying on geopolitical tensions last week, but as the story developed, what didn’t happen was a real escalating of tensions.”

‘Stricter sanctions’—A/S Global Risk Management

“THE situation is fluid, and if Israel signals it will not retaliate, market tensions will ease,” said Arne Lohmann Rasmussen, head of research at A /S Global R isk Management.

T he market’s worst-case scenario is a closure of the Strait of Hormuz, although that outcome seems unlikely, he said.

Instead, “stricter sanctions on Iran are likely,” he said. “The US-led sanctions on Iran are already ver y comprehensive, but Iran has still been able to step up production and exports over the last year.” Bloomberg

However, the uncertainty is completely uncontrolled as witnessed by stock and bond trading and price movements as well as (no hate mail please) in the cr ypto market, also up and down like a PSE basura stock, which is super profitable for cr ypto traders.

T here i s not hi ng w rong w it h “uncertainty” and trading it makes fortunes. But expect more fun times ahead and be prepared both mentally and financially.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

i a (7 percent /4.85percent), and Indonesi a (5.0 percent /3.05 percent). Then we have relatively low GDP growth and relatively low monthon-month inflation, such as Canada (0.6 percent/0.3 percent), Japan (0.1 percent/0.0 percent), and South Korea (0.6 percent/1percent).

Calls in Israel for another round of retal i at ion, t his t ime d irectly against Iran, added to the fears. National Security Minister Itamar Ben Gv ir demanded a “c ru shi ng attack.” W hi le Netanya hu d idn’t endorse that appeal, Israel’s war is sti ll far from over Many in Israel aren’t clamoring for a quick flex of the muscle, partly because Iran’s attack was so unsuccessful. In the meantime, it’s distracted global attention away from the brutal war in Gaza.

Atty. Irwin C. Nidea Jr.

FTAX LAW FOR BUSINESS

OR most taxpayers, the deadline for filing the Annual Income Tax Returns (AITR) was yesterday (April 15). It is at this moment that a decision to either refund or carry over the excess withholding tax credits must be made. The Supreme Court in one case ruled that both options are irrevocable. But in a recent case, the SC clarified that only one of the options is irrevocable.

Once a taxpayer ticks the option

“To be ref unded,” is that option irrevocable? In the case of University Physicians Services Inc. (UPSI) v. CIR (GR 205955, March 7, 2018), the taxpayer ticked the said option but later carried over the same in a subsequent retur n. T he SC ru led that once the tax credits are carried over after electing refund, the carr y-over option becomes irrevocable, and the taxpayer can no longer rever t to its prev ious choice of ref und. In other words, only the carr y-over option is irrevocable and not the option to be ref unded

carr y-over but in the option to be refunded as well.

Contrar y to the pronouncement in R hombus, a reading of the law unmistakably discloses that the irrevocability rule applies exclusively to the carr y-over option. This is the current ruling of the SC in UCPB v. CIR, (GR 104687, April 24, 2023, uploaded in December 2023). According to the SC, if the intention of the lawmakers was to make such option of cash refund or tax credit also irrevocable, then they would have clearly provided so. The law does not prevent a taxpayer who originally opted for a refund or tax credit certificate from shifting to the carr y-over of the excess creditable taxes to the taxable quarters of the succeeding taxable years. However, in case the taxpayer decides to shift its option to carr yover it may no longer revert to its original choice due to the irrevocability rule. This rule is affirmed by the Ease of Paying Taxes Law (EOPT). The said

The irrevocability rule must be revisited. The business climate that led a company to decide to carry-over excess tax credits five years ago may not be the same now. Taxpayers must be given a second chance to recover their own money.

law also added that in case the taxpayer chose the option to be issued TCC or refund but carried over the amount said to be refunded in the AITR filed for the succeeding year, it is a ground for denial of the claim for refund.

As discussed by Atty. Buted in her article, the BIR is given 180 days from submission of complete documents to decide a claim for CWT refund.

The recently released revenue regulations clarified that if the BIR fails to decide within the 180-day period, the taxpayer has two options: 1). File a Petition for Review at the CTA; or 2). Wait for the Decision of the Commissioner of Internal Revenue on the claim for refund. If the taxpayer opted to file a Petition at the CTA, it means that it has foregone its administrative claim for refund. The CIR will no longer decide on the same. According to the SC, the evident intent is to keep the taxpayer from flip-flopping on its options and to avoid confusion and complications as regards taxpayer’s excess tax credit. It specifically addresses the problematic situation when a taxpayer, after claiming cash refund, and during the pendency of such claim, automatically carries over the same excess

CWT and applies it against its income tax liabilities.

There are many instances where taxpayers have accumulated hundreds of millions or even billions of pesos of excess CWT but they do not know how to recover it anymore. A company may be currently in a consistently losing position or its projected income tax due for many years is not enough to consume the excess tax credits that

Chinese executives see US-China rivalry as ‘biggest uncertainty’

By Ye Xie

CHINESE business executives and investors are embracing a future fraught with geopolitical tensions and slowing economic growth, but also with opportunity emerging from the country’s burst real estate bubble.

T h at m i x of anx iety and measured opt i m ism was on d isplay at a forum at Har vard University where bu si ness tycoons, ent repreneurs and vent ur e cap ital i st m i ngled w it h sc hola rs and st udents over t he weekend.

T he pa r t ic ipants sa id t he ongoing housing slump depressed investor sentiment. But they also praised C hi na’s econom ic resi l ience, suppor ted by its vast pool of eng i neers and sk i lled workers, sophist icated i nf rast ruct ure and i nnovat ion i n a reas suc h as renewable energy and elect ric vehicles. Most of the d iscussion, however, i nev itably t ur ned to t he US-C hi na relat ionship.

X ing Lu an executive at Cloopen Group, a cloud-based commu n icat ions ser v ice prov ider, sa id he’s worried t h at a potent i al shutdown of TikTok by the US may affect some of his i nvestments, whic h heav i ly rely on t he soc i al med i a g i ant to lure new c u stomers.

In a t hinly vei led compla int t hat t he US h as penal i zed C hi nese EV makers w it h ta ri ffs and ot her rest rict ions, Wi ll i am L i, c hief exec ut ive off icer of Nio, called for more cooperat ion, say i ng t he C hi nese gover nment h as ref r a i ned f rom

and Hezbollah

d i sc ri m i nat i ng aga i nst fo r e i gn automakers. “Geopol it ics is t he biggest u ncer ta inty,” Chen Dongsheng, cha irman and CEO at Ta i kang Insurance Group, sa id at t he Ha r va rd College C hina Foru m. “T he t rend of globali zat ion has t ur ned into decoupl ing, technology blockade and trade protect ion ism.”

Gra h am All ison, a Ha r va rd professor who met w it h President X i Ji npi ng and ot her sen ior leaders duri ng a recent t rip to Beiji ng, sa id he ret ur ned w it h bot h good news and bad news. All ison popu la ri zed t he ter m “T hucyd ides Trap,” whic h desc ribes t he historical tendency towa r d wa r w h en an eme r g i ng power t hreatens to d islodge t he ex ist i ng super power T he good news, he sa i d, i s t h at t he meet i ng between X i and US Pres i dent Joe B i den i n San Fr anc i sco i n Novembe r p ut a floor u nde r a dete rior at i ng relat ions hi p and set a fou ndat ion for i mp rovement. But it’s fa r f rom g u a r anteed t h at t he two cou nt ries can compete and coope r ate at t he same t i me, he sa i d.

Despite the economic challenges at home, X i is “ver y muc h i n command” w it h “a deter m i ned v ision

“Geopolitics is the biggest uncertainty,” Chen Dongsheng, chairman and CEO at Taikang Insurance Group, said at the Harvard College China Forum. “The trend of globalization has turned into decoupling, technology blockade and trade protectionism.”

to make C hi na all t h at it can be,”

All ison sa id. “So bad news: t his is a genui ne T hucyd ides rival r y between t he fastest risi ng power of all t i me and t he most colossal ru l i ng power at least si nce Rome,” All i son sa id. “And neit her of u s is prepa red to g ive muc h, w it h respect to its posit ion.”

T he potent i al coll ision occ urs at a t i me when C hi na’s economy is st ruggl i ng w it h a hou si ng c risis and a loss of conf idence among consu mers and ent repreneurs as Beiji ng i ntensi f ied its foc u s on nat ional sec urity.

C hi nese stocks slu mped 30 per -

cent over t he past t hree yea rs as foreign i nvestors ret reated.

James D i ng, manag i ng d irector of GSR Vent ures, sa id whet her overseas i nvestors w i ll be enamored of t he C hi nese ma rket aga i n depends on “t he d irect ion of next set of pol ic ies” by Beiji ng. “T he C hi nese gove r nment i s keen to r ev i ve t h e conf i dence among C hi nese and fore i gn i nvestor s, as well as t he p ri vate sector ”

D i ng sa i d. “I hope it w i ll g r adu -

ally i mp rove.” Ot her C hi nese vent ure capital and private equity i nvestors were relat ively upbeat. W hi le C hi na’s economy is conf ronted w it h a shri nk i ng popu lat ion and t he geopol it ical ri sks, China is minting mi ll ions of college g raduates, eng ineers and other professional and enjoys compet it ive edges w it h a comprehensive supply c h a i n and renewed foc u s on i nnovat ion, sa id Kev i n Qi, c h a ir man of Merger C hi na Group. “I h ave more posit ive talk i ng poi nts for C hi na t h an t he negat ives,” Qi sa id. Ji ng Hong, fou nd i ng Pa r tner and CEO at Gauc heness Capital, ec hoed t he sent i ment. S he sa id she’s bu ll ish on C hi nese assets as well as overseas sta r t ups by C hinese ent repreneurs. T he st ruct ural shi ft f rom labor and cap i tal- i ntens i ve economy means C hi na needs to pu sh for tec hnology i nnovat ion to i mprove product iv ity, whic h bri ngs about “a hu ge oppor t

T hat conflict has already seen some 33,000 Palest inians k i lled, according to Hamas, considered a terrorist organi zat ion by t he US and European Union. More than 100 hostages have yet to be freed and t h o u sands of t h e m i l itant g roup’s f ighters are sti ll entrenched in Rafah, a city in Gaza where hundreds of thousands of ref ugees are sheltering.

For the moment, the weekend attack seemed to signal that the deterrence that’s kept Iran from widening the war into a full-on battle with Israel still holds.

Hamas rejected the latest ceasefire proposal from mediators following Iran’s assault, according to Mossad, the Israeli external-intelligence agency. Israel i forces a re planning an assau lt on Rafa h, whi le v iolence also looms on Israel’s northern border, where tens of thousands of civilians have been evacuated on both sides amid fighting between Israel

Iran is tr y ing to draw a “new line,” according to Dana Stroul, who until December was the Pentagon’s deputy assistant secretar y for the Middle East.

“If Israel targets any of its officials abroad, even when those officials are engaged in terrorist activities, Iran will respond with attacks like we saw last night,” she said. Israeli leaders “will need to respond,” but in a way that will “prevent opening a new escalator y cycle that tips into full scale regional war,” she said.

Last week, even as Tehran was publ icly t hreaten i ng massive retal i at ion, it was tell i ng A rab cou nt ries i n t he Persi an Gu lf t h at t he response wou ld be measured and steer clea r of t heir territor y. T he Hout his, Iran’s prox ies i n Yemen who’ve been attack i ng ships i n t he Red Sea, wou ld h ave a l i m ited role, t hey sa id.

One diplomat in the region said Tehran appeared to discuss its intent to retaliate with nearby countries in order to demonstrate restraint behind the public shock and awe it aimed to deliver after the killings of its commanders at the embassy compound in Syria, which formally qualifies as Iranian territor y. The Gulf countries, desperate to avoid

a wider war underlined the importance of caution. Is r ael matc h ed I r an’s p u bl i c threats with warnings of its own, backed up by public pledges of support from its allies.

On Friday, while officials were saying the attack was imminent, the US dispatched a top militar y commander to Israel to help coordinate the response. American and British planes and warships helped down some of the drones.

Though potentially devastating, the assault appeared designed more to demonstrate resolve than to overcome Israel’s defenses, said one western diplomat.

Still, officials in the region said they expect some kind of response by Israel, given the unprecedented nature of Iran’s direct attack. Just how severe it is will show whether the march toward the brink of broader conflict is in fact on hold. The lack of damage and casualties means that the Israelis could limit their strike, said Mark Cancian, a defense analyst with the Center for Strategic and International Studies in Washington. “Maybe they will attack a military base that launched the missiles, maybe a production factory, maybe Iranian naval assets,” he said. “Everyone is watching to see what the Israelis will do.” With assistance from Sylvia Westall, Ethan Bronner, Patrick Sykes, Michael Nienaber, Anthony Capaccio, Beril Akman, Peter Martin, Courtney McBride and Hadriana Lowenkron /Bloomberg

By Cai U. Ordinario @caiordinario

WHOLESALE rice prices jumped 31.2 percent in March 2024, according to the latest data released by the Philippine Statistics Authority (PSA).

Based on the data, the fastest increase in regular milled rice is in the National Capital Region (NCR) where the price of the staple surged 58.7 percent. The PSA said this was followed by the Davao Region where regular milled rice prices soared 43.6 percent in March 2024.

“Wholesale price refers to the price of commodity transacted in bulk for further resale or processing. It is the actual ‘spot’ transaction price received usually by the wholesalers, distributors or marketing agents for large lots but net of discounts, allowances, and rebates,” the PSA explained.

Based on the data, the average price of regular milled rice nationwide reached P47.44 per kilo in March 2024, higher than the P36.17 per kilo in March 2023.

However, this was a 0.5-percent contraction in regular milled rice prices in February 2024 when the

price averaged P47.69 percent.

In NCR, the average price of regular milled rice was at P45.38 per kilo in March 2024, significantly higher than the P28.60 per kilo level recorded in March 2023.

However, this was 7.4 percent lower than the P49 per kilo average recorded in February 2024. The data showed the year-on-year increase of regular milled rice prices soared to 71.7 percent in February 2024 compared to the P28.53 per kilo posted in February 2023.

PSA data showed regular milled rice wholesale prices in Davao Region averaged P50.73 per kilo in March 2024, higher than the P35.33 per kilo posted in March 2023.

Similar to NCR, compared to February 2024, wholesale rice prices contracted 0.1 percent from the P50.77 per kilo average during the period.

The growth in wholesale regular milled rice prices in February 2024 posted a 51.3-percent year-on-year increase from the P33.55 per kilo level in February 2023.

PSA said the monthly data on the wholesale selling prices for agricultural commodities are obtained from the results of the Wholesale Selling Price Survey conducted every week of the reference month.

TLorenz S. Marasigan @lorenzmarasigan &

groups Piston and Manibela claimed on Monday they brought the streets of Metro Manila and the Southern Tagalog Region to a standstill in their protest against the Public Utility Vehicle Modernization Program (PUVMP), but the government disputed the claim.

t had a ims to quell mobi l i zat ions only goes to show t he impact of t he st ri ke,” Piston sa id. Gov’t plays down strike

share t heir v iews to stop t hem f rom joining gover nment prog rams,” he sa id, speak ing mostly in Fi l ipino.

MMDA: No disruption

of

ief

reac h Piston cla imed.

T he t ranspor t g roup added t hat st randed commuters dotted t he landscape along Commonwealt h Avenue and ot her a r teri al routes, exacerbat ing an al ready st ra ined publ ic t ranspor tat ion system.

In “crowdsourc ing” ideas to bring in tourists, Marcos Jr noted t his was how tourism shou ld be developed— “not rely i ng on t rickle-down, but bui lt f rom t he g rou nd up.”

Despite t he a rrival of 5.5 m i ll ion foreign tourists last yea r, t he C hief Exec ut ive enjoined stakeholders to “work ha rder to make our cou nt r y stand out am idst a ver y compet it ive market,” by bui ld ing better and more tourism facilities and infrastructure, “step up our ma rket ing d rive, and rev up t ra ining. We have to open up more tourism a reas so we can have a d iversif ied and a dynam ic por tfol io t hat can d rive up interest before a w ider cl ientele.”

Other winners

MARCOS Jr noted t h at wh at att racts touri sts to t he cou nt r y “a re cer ta i nly t he beaut i f u l sites, certa i nly t he f u n act iv it ies, cer ta i nly t he g reat fac i l it ies, but t he most i mpor tant pa r t of it i s t he Fi l ipi

nments a re our ind ispensable and act ive pa r tners in nat ional development.” He g uaranteed national gover nment suppor t “[to] match your industr y, equal your dedication, and complement your work. [We] w i ll build more infrastructure, implement tourism-friendly policies, and arouse interest from global audiences.”

Schools and universities were earlier forced to suspend classes or transition to online learning platforms.

“T he massive pol ice presence

HOWEVER, t he Land Transpor tat ion Franc hising and Reg u lator y Boa rd (LTFRB) played down t he effects of t he st ri ke, d isput ing t he cla ims of Piston and Manibela.   “Kung ang pagbabasehan po ngayon is iyong [If we base it on] routinar y traffic, tuluy-tuloy po ang traffic, tuluytuloy po ang pagsakay ng mga pasahero, wala pong mahabang pila [traffic flowed continuously, passengers were able to board their rides, there were no long lines],” LTFRB Chairman Teofilo Guadiz III said. T he LTFRB c hief sa id resc ue buses were also preposit ioned in case of a shor tage of vehicles catering to passengers in key a reas in Met ro Mani la due to t he t ranspor t st ri ke. “But we were act u ally more on t he lookout for t hose who may not ag ree w it h t he gover nment prog ram, and may t hink of t hrow ing spi kes or ha rass t hose who don’t

THE first day of the two-day transpor t strike failed to disrupt public transport operations amid the looming deadline for the consolidation of public utility vehicle drivers and operators as par t of the gover nment’s modernization program, accordinng to the Metropolitan Manila Development Authority (MMDA). “So fa r as of t his mor ning, t here was no d isrupt ion in publ ic t ranspor t. Jeepneys pl ied t heir routes smoot h ly, in fact, we d id not get to deploy any vehicle out of t he 400 t hat had been prepa red for augmentat ion u nder ‘ l ibreng sakay’,” sa id MMDA Act ing C ha ir man Romando A r tes in a press brief ing. Ea rl ie r, A r tes sa id t hey we re closely coord inat ing w it h t he 17 local gover nment u nits in Met ro Manila and other gover nment agenc ies a head of t he st ri ke. He noted t hat besides t he f ree rides, t he Pasig R iver Ferr y Ser v ice was also on stand by as alter nat ive t ranspor tat ion in Met ro Mani la. “One avoids traff ic and gets to one’s dest inat ion for f ree,” he sa id. T he agency also d id not suspend t he implementat ion of t he Unif ied Vehic u la r Volu me Reduct ion Pro-

CENTURY Properties Group Inc. (CPG) said its net income last year jumped to a 10-year high and surpassed the level recorded prior to the pandemic mainly due to the strong performance of its affordable housing brand.

Cwor t h P20 bi

ion to help CREC ac hieve its goal of h av i ng one g igawatt (GW) of sola r energy capac ity t his yea r “T he f inancing deal, arranged by RCBC Capital Cor p., is slated to reach up to P20 billion in funding, starting with the signing of an initial tranche of P9 billion. The structure is believed to be the first-of-its-kind project financing in the Philippines,

HBy Andrea E. San Juan @andreasanjuan

OLCIM Philippines said it is allot-

which covers various project portfolios instead of the typical per-project financing structure,” CREC said in a statement Monday.

The amount will support multiple solar power plant projects with a combi ned i nstalled generat i ng capacity of at least 600MWdc and up to approximately 1GW of solar energy capacity. The proceeds of the initial funding tranche will be applied towards CREC’s development of certain solar power plant projects in Batangas, Pampanga, and Negros Occi-

t he c h allenges duri ng t he c risis period and t he st rateg ies we i mplemented a re now mate ri ali zi ng,” Ponc i ano S. Ca rreo Jr., t he company’s CFO, sa id. “We continue to ser ve the high demand for affordable, quality, and strategically located first homes and focus on the continued recover y of other real estate business segments.”

The company redeemed its P3billion preferred shares on July 10, 2023, and its P3-billion fixed-rate retail bonds on March 1.

“For our in-city vertical developments, we look for ward to unveiling our upcoming projects tailored to meet the evolving needs of various market segments, including a premium low-density boutique residence in Makati City, a mid-rise residential building in Quezon City, as well as a mid-rise residential development within Azure North estate in San Fer nando, Pampanga,” Ma rco R. Antonio, the company’s president and CEO, said.

dental. The proceeds of subsequent tranches will be applied towards the completion of additional solar power projects in or additional generating capacity from CREC’s pipeline of projects in various stages of development.

“RCBC’s support will assist us to fulfill our 1-GW target for this year,” said CREC President Oliver Tan. “We thank RCBC for their trust in us and we will endeavor to meet our goals with excellence.”

The solar power plant projects in Batangas, Pampanga and Negros Oc-

“Under our PHirst Brand, we w i ll be lau nc hi ng f ive new projects i n 2024 coveri ng 85 hecta res, w it h over 8,000 u n its wor t h P18 bi ll ion of f resh i nventor y. T hree of t hese developments w

By Lenie Lectura @llectura

O P E Z- OWNED F ir st Gen Cor p. (FGen) sa i d Monday it awa rded t he cont r act for t he second s hi pment of t he company’s l iquef ied nat ur al gas (LNG) s u pply r e quir ement to CNOOC Gas and Powe r Tr ad i ng & Ma r keti ng L i m ited (CNOOC). CNOOC w i ll s u pply one LNG ca r go of app rox i mately 1 3 0,000 c u b i

cidental are integral to CREC’s target of contributing 1GW of ready-tobuild/under construction solar energy capacity per year over the next five years. The expected commercial operation dates for the first and second phases of the Negros Occidental project are in September 2024 and 2025, respectively.

Meanwhile, the expected commercial operation dates for the first and second phases of each of the Batangas and Pampanga projects are in December 2024 and 2025, respectively. Lenie Lectura

percent reduction in freshwater withdrawals. Holcim said it also reused more than a million tons of wastes as alternative fuels and raw materials to help partners avoid landfilling and lower consumption of virgin resources.

red at i ts dest i nat i on, to FGEN’s w holly owned s u bs i d i a r y, F ir st Gen Si ngapore P te. Ltd. (FGEN Si ngapore). T he LNG ca r go to be p rov i ded by CNOOC w i ll be del i ve red by an LNG ca rrie r w hi c h w i ll be u nloaded i nto t he stor age tanks of t he BW Batangas FSRU t h at i s c urrently be r t hed at t he Fir st Gen Clean Ene r gy Complex (FGCEC) i n Batangas C ity. T he LNG w i ll be ut i l i zed by FGEN’s ex i st i ng gasf ired powe r plants also i n FGCEC. FGEN h as a por tfol io of four ex i st i ng gas-f ired powe r plants w it h a combi ned capac ity of 2,017 megawatts (MW) t h at h ave been s u ppl ied for many yea r s w it h gas f rom t he Malampaya f ield, an i nd i genou s offs hore gas f ield. FGEN LNG Co r p. h as const ructed its i nte ri m

By Reine Juvierre Alberto

THE Bureau of Internal Revenue (BIR) is keen on extending the deadline for the registration and submission of a Sworn Declaration of Gross Remittance for online sellers for another 90 days to avoid the automatic deduction of 1-percent withholding tax from their total income.

Despite uptick in yields, NG meets target for T-bills

subscribed, attracting P39.8 bi llion in total tenders, the Treasur y said.

(BTr) f u lly awarded its P15 bi ll ion programmed auction of three-tenor bills as the average auction y ields slightly i nc reased for t he second st ra ight week after correcting slightly lower for four straight weeks.

According to the Treasur y, the auction committee last Monday raised P5 bi llion each from 91-day T-bi lls, 182-day tenor and 364-day gover nment securities. For t he 91-day T-bi lls, i nvestors’ aver age y ield sl ig htly i nc reased to 5.870 percent, versu s t he prev iou s tende r ’s 5.772 pe r cent. B i ds fo r t he 91-day T-bi lls i nc hed up, r angi ng f rom 5.824 percent to 5.895 percent.

T he 181-day T-bi lls saw its y ield averag ing at 5.973 percent compared to last auction’s 5.885 percent. T he gover nment security rates were between 5.900 percent and 5.990 percent. Investors’ average rate for the 364-day T-bi lls, meanwhi le, was at 6.044 percent w ith a y ield range of 6.025 percent to 6.064 percent. Tbi lls’ y ields averaged 5.983 percent in t he Treasur y’s prev ious tender last Apri l 8. T he auction was 2.7-times over-

R izal Commercial Bank ing Cor p. (RCBC) Chief Economist Michael L. R icafor t said the higher average auction y ields are similar to the week-onweek slight increase in most comparable shor t-ter m PHP BVAL y ields.

T his, after more hawk ish signals from some US Federal Reser ve (Fed) and local monetar y officials after the recent pick up in inflation, R icafor t added. “However, important positive offsetting factor wou ld be the seasonal increase in tax revenue collections in Apri l that cou ld help reduce/ narrow the budget def icit and also reduce borrow ings/debt,” the RCBC executive said.

Last week, the gover nment borrowed a total of P35.6 bi llion from the combined auction of T-bi lls and T-bonds which saw mi xed resu lts due to higher average auction y ields for both debt papers.

T he nat ional gover nment a ims to raise as much as P75 bi llion from the sale of T-bi lls this Apri l. It is also targeting to raise P195 bi llion this month from the combined sale of Tbi lls and Treasur y bonds (T-bonds).

T

he state also aims to borrow, follow ing a 75:25 mi x in favor of domestic sources, a total of P1.853 tri llion from the domestic market through the sale of T-bi lls and T-bonds, based on state budget documents.

Reine Juvierre Alberto

financial literacy inclusive for all? It begins with recognizing the barriers that prevent certain groups from accessing financial educat ion and implement ing strategies to overcome them. Let’s delve deeper into each aspect of personal finance and explore practical steps to empower individuals to take control of their financial futures.

needs to be registered to the BIR and has to pay the appropriate taxes. That is ever yone’s obligation,” whether they sell online or physically, Lumagui said.

registration of online sellers’ bu si nesses wou ld ensure protection for the consumers as the sellers would be accountable if ever the products they sold were defective, Lumagui added.

Star ting Apri l 15, local online sellers who fai l to submit a swor n decla rat ion of g ross rem ittances t h at t he ir total i ncome exceeds

P500,000 in the prev ious or current year to the BIR Revenue District Off ice (RDO) w i ll automat ically be deducted a 1-percent creditable w ithholding tax by the online platfor m where they trade.

RR 16-2023 imposes a 1-percent withholding tax on one-half of the gross remittances made by e-marketplace operators and DFSPs to sellers and/or merchants for the goods or ser vices sold and/or paid through their platform and/or facility.

Online sellers

Bonds fall on return focus on inflation

THE bid for Treasuries that swept t hr o u g h ma r kets ahead of the weekend is unwinding amid hopes the conflict between Iran and Israel will now calm, with attention retur ning to the inflationar y forces dogg ing the world economy.

T he y ield on 10-yea r sec urit ies rose as muc h as f ive basi s poi nts to 4.57 percent on Monday, more t h an h alv i ng Friday’s d rop and edg i ng back towa rd a f ive-mont h hig h touc hed last week.

T he move reflects rel ief t h at Isr ael h as so fa r c hosen not to retal iate aga i nst I r an’s u nprecedented attack, but also u nderscores t he fea r t h at i nstabi l ity i n t he M iddle East w i ll d rive oi l prices higher and he ig hten renewed worries about st icky i nflat ion. T h at cou ld pu sh back t he expected sta r t date for t he Feder al Reser ve’s f irst r ate c ut even f urt her A st ri ng of hot US consu mer price read i ngs h as al ready forced t r aders to reprice t he ir expectat ions, and t hey a re now bett i ng t he Fed w i ll wa it at least u nt i l Ju ly to sta r t easi ng. “W hi le t he i mmed i ate ma rket response was seek ing ref uge in safe h avens suc h as gover nment bonds, t here a re loom i ng concer ns about anot her wave of i nflat ion,” sa id Alt hea Spi nozz i head of f i xed i ncome st r ategy at Saxo Bank. “T he possibi l ity of a med iu m-ter m i nc rease

Budgeting. Imagine your income as a roadmap for your money. Budgeting is the process of creating a plan that outlines where your income goes each month It’s not about deprivation; it’s about allocating your resources efficiently to cover essential expenses (rent, utilities, groceries) while setting aside funds for your financial goals (vacation, car down payment). There’s no one-size-fits-all approach Numerous free budgeting apps and online tools can help you create a personalized plan that aligns with your income and spending habits.

Saving. Building a savings habit is like planting a seed—small and seemingly insignificant at first, but with consistent care, it blossoms into a source of financial security. Even small amounts set aside regularly can accumulate significantly over time. Start by automating a portion of your income to be deposited di-

rectly into a savings account. This “set it and forget it” approach ensures consistent growth without relying on willpower alone. Responsible credit management. C red it ca rds, w hen u sed respons i bly, can be valu able f inanc i al tools. T hey can help bui ld your c red it score, a c ruc i al factor i n ever yt hi ng f rom sec uri ng loans to obta i n i ng affordable i nsurance rates. However, u si ng c red it irresponsibly can quickly lead to a cycle of debt. T he key l ies i n u nderstandi ng i nterest rates and m i n i mu m payment requirements. Always pay your balances in f u ll whenever possible to avoid acc rui ng substant i al i nterest

Few alternatives

briefs

SECB holds forum on EOPT

cial safety net to catch you when t he u nexpected h appens. T hi nk of it as an umbrella on a rainy day. Health

protects you from astronomical med ical bi lls, whi le l i fe i nsurance prov ides f i nanc i al security for your loved ones in case of your passing. T here are also various property and casualty insurance options, such as car insurance and homeowner’s insurance, that safeg uard your assets from unforeseen circumstances. Retirement planning. Retirement might seem like a distant reality, especially for young adults. However, the sooner you start planning, the better Even small contributions now can make a significant difference later Consider contribut ing to employer-sponsored retirement plans that often come with employer matching contributions—essentially free money! If such plans aren’t available, explore other retirement

YET, some analysts po i nt t h at Treasuries a re t he u lt i mate safe h aven and demand w i ll always be st rong i n t i mes of geopol it ical u ncer ta i nty. “O i l spi kes a re often seen as t r ansitor y,” sa

i n y ields cannot be d i scou nted.” Many bond i nvestor s h ave already been cau g ht w rong-footed t hi s yea r ove r i nflat ion, and t he resi l ience of t he US economy more gene r ally. T he h awk i s h rep ri c i ng p u s hed t he y ield on 10-yea r Treas uries u p almost a f u ll pe rcentage po i nt s i nce t he end of Decembe r, b rui s i ng i nvestor s w ho h ad p i led i nto t he sec urit ies on t he v iew t h at moneta r y eas i ng was i mm i nent. For now, t he moves i n t he oi l ma rket h ave been relat ively muted. Brent c rude briefly ju mped to $91 a ba rrel Monday before ret reat i ng back below t he $90 ma rk. But t h at’s st i ll close to a hig h for t hi s yea r and well off a low of $72 back i n December “T he effects of hi g he r oi l prices w i ll be felt globally, and t hi s i s com i ng at a t i me w hen t he re’s al r eady conce r n abo u t st i cky i nflat i on i n seve r al co u nt ri es,” De u tsc h e Bank AG st r ateg i sts i nclu d i ng Hen r y Allen and J i m Re i d w rote i n a note. As t he ma rket wa its for clues on whet her and how Isr ael w i ll respond, attent ion t ur ns back to econom ic f u ndamentals and g uidance f rom Fed off ic i als. US reta i l sales data due later Monday w i ll be closely mon itored for any signs t h at cons u me r s a re feel i ng t he pi nc h f rom hig her prices. T here i s also a slew of Fed speakers comi ng up, i nclud i ng Jerome Powel on Tuesday. “T he ma rket i s t r y i ng to get back to nor mal w it h a bit of rel ief rally,” sa id Ti m Graf, head of EMEA mac ro st r ategy at State St reet, referri ng to t he more buoyant appet ite for ri sk assets. “W h at all t hi s bad news on i nflat ion does i s take Fed r ate c uts off t he table, t hough it doesn’t necessa ri ly bri ng hi kes back.”

accounts or investments, especially those with tax-advantaged benefits.

Understanding your money mindset

BEYOND mastering these financial concepts, it’s essential to understand our own money behavior and what influences it. Childhood money memories and societal pressures can shape our attitudes toward money, impacting our spending and saving habits. Take time to assess your relationship with money and make adjustments that align with your financial goals. Furthermore, be mindful of marketing tactics that lure us into unnecessar y spend ing. W het her it’s flashy advertisements or limitedtime offers, recognize the difference between wants and needs and resist the urge to splurge impulsively.

In conclusion, financial literacy is not a lu xur y reser ved for the privileged few; it’s a fundamental skill that ever yone deser ves to possess. By making financial education inclusive and accessible, we can empower individuals from all walks of life to take control of their financial futures. Let’s work together to ensure that financial literacy is no longer a privilege but a right for all.

Janice Sabitsana is a registered financial planner of RFP Philippines. The views she expressed in this column do not necessarily reflect those of the BusinessMirror. To learn more about financial planning, attend the 107th RFP program this May 2024. Please e-mail info@rfp.ph or visit https://www.rfp.ph for details.

SECURITY Bank Corp. (PSE: SECB) announced having held its 2024 Business Forum in collaboration with SyCip Gorres Velayo (SGV) & Co. to assist clients in understanding the newest tax laws and rules, including the recent Ease of Paying Taxes (EOPT) Act, or Republic Act 11976, as well as learning about macroeconomic and foreign exchange trends. This seminar was the first of a series to inform and empower Security Bank stakeholders. Hosted at the Security Bank Centre in Makati City, the seminar featured Atty. Jules R. Riego, SGV Tax Principal, explained the details of EOPT. “The purpose of the [EOPT] Act is to protect and safeguard the taxpayers’ rights, to modernize tax administration, to enhance and promote convenience of tax compliance, and to be able to enact policies and procedures for different types of tax payments,” Riego said.

Lender honored as ‘Best Forex Broker’

EAST West Banking Corp. (PSE: EW) announced last Monday

it was honored with the “Best Foreign Exchange (Forex) Broker” award last January 26 during the grand ceremony in Waldorf Astoria, Bangkok, Thailand. This award capped off a milestone year for the institution as it won a total of nine major international banking awards for 2023, the lender said through a statement. We remain “steadfast in our commitment to excellence and innovation,” Senior Executive Vice President Rafael S. Algarra Jr. was quoted in the statement as saying. Winning this award “is not just a recognition of our achievements; it’s a testament to our unwavering dedication to our clients,” Algarra added.

Denmark raises diesel fuel tax

DENMARK will spend about 5 billion kroner ($715 million) through 2030 on green transition of its agriculture sector and other environmental initiatives, which it will fund in part by a higher tax on fuel. A broad majority in the Danish parliament agreed to allocate funds to a range of green initiatives including subsidiaries for methane-reducing feed in the agricultural sector, promotion of plant-based food, reforestation, clean drinking water and green district heating, the government said on Monday. The Nordic nation will raise its diesel fuel tax by 0.5 krone per liter ($0.27 per gallon) from 2025. The plan is expected to lead to a reduction of 0.3 million tons of CO2 in 2025, it said. Bloomberg

Dreaming of springtime Paris

“The sun just touched the morning; the morning, happy thing, supposed that he had come to dwell, and life would be all spring.”

“Spring is nature’s way of saying ‘Let’s Party!’.”

“A life without love is like a year without spring.”

BETWEEN the joyful line of the American oet a arently relate to Taylor i t the succinct translation of the celebrated comedian and the somber simile of the omanian riter s rin has al ays been much romantici ed A ter all the meta hor almost rites itself erha s e en more so in the rench ca ital of aris hailed as the ity of o e isual artist onnie im in ites the audience to that s eci ic season and settin in his bloomin ne one man e hibition titled Je Pense À Paris.

Translatin to m thin in of oin to aris the on oin sho ser es as im s debut solo ith alerie rancesca e amall and ill be on ie until April 19. im has dabbled in both i urati e art and abstraction. While the former doctor/businessman bro e throu h the art scene ith his or s in realism particularly his hyperrealist renditions of ti ers bo ers and other subjects the ne sho features mostly his abstract pro ess coupled ith i urati e elements.

n this sprin time arisian sho case the si nature lo ers of im the abstractionist

blossom in their nebulous lory this time orbited by equally colorful

Scatter your energy in directions that support personal growth and positive change. Diversify, and participate in events and activities that encourage you to stretch your imagination and physically challenge yourself. Push yourself to do more and to expand your chances to advance financially. Make peace and love your priorities, and participate in causes of concern. Learn to take better care of yourself mentally, physically and economically. Your numbers are 4, 17, 21, 26, 34, 43, 45.

ARIES (March 21-April 19): A little adventure will spark your interest and broaden your awareness regarding possibilities. Use your imagination, and it will trigger an impulse to participate in something that concerns you. Your input can and will make a difference.

TAURUS (April 20-May 20): Emotions and brute force will backfire. Don’t make a scene when you can accomplish something worthwhile by working quietly toward your goal. Sharing less and doing more will help you reduce nonsense that can slow you down.

GEMINI (May 21-June 20): Don’t count on others to handle your responsibilities. Hedge your bets, do for yourself and don’t make a scene or draw attention to yourself. Change can be good if you implement and secure what you want without interference.

CANCER (June 21-July 22): Put a budget in place. Delegate what and who goes where and how you want things done. Show your leadership ability by using your creative input to put your unique spin on whatever you pursue.

LEO (July 23-Aug. 22): Energy is the answer to get things done. Pursue with a passion, and you won’t be disappointed. Aggressive action with a smile and good intentions will give you the upper hand when you face a daunting challenge.

VIRGO (Aug. 23-Sept. 22): Learn and adjust as you go. Embrace change, gain wisdom and put your time, effort and energy into whatever makes the most sense. Partnerships and personal gains are favored if you stay focused on success.

LIBRA (Sept. 23-Oct. 22): Participate and make a difference. Refrain from waffling when you must take charge. Show your strength of character and implement changes that improve your life, augment your position and grab the attention of those who can help make your dreams come true.

SCORPIO (Oct. 23-Nov. 21): Change begins with you. Step up and make things happen. Refuse to let what others do stand in your way. Live life your way, learn as you go and continue until you reach your desired results. Patience, time and energy will pay off.

SAGITTARIUS (Nov. 22-Dec. 21): Being wellinformed will keep you out of trouble. Stay calm if someone chooses a different path or creates chaos or confusion. Research is your guide to making the best decision. A passionate stance will ward off cheaters, fakers and liars.

NEW YORK—Several authors have turned down awards and awards nominations from PEN America, citing unhappiness with the literary and free expression organization’s stance on the war in Gaza.

This week, PEN announced its long lists in categories ranging from the $75,000 Jean Stein Award for best book to the $10,000 PEN/Hemingway award for first novel.

Authors who have asked for their names to be withdrawn include Jean Stein nominee Camonghne Felix, poetry finalist Eugenia Leigh and short story nominee Ghassan Zeineddine.

“I decided to decline this recognition and asked to be removed from the long list in solidarity with the ongoing protest of PEN’s continued normalization and denial of genocide,” Felix, author of the memoir

Dyscalculia, wrote on X.

The awards are scheduled to be handed out during an April 29 ceremony in Manhattan, hosted by writer-comedian Jena Friedman. A PEN spokesman said that nine out of 60 nominated authors had asked for their names to be withdrawn. PEN also confirmed that Esther Allen had declined the PEN/Ralph Manheim Award for translation and added that it would soon announce a new winner.

“We respect their decision and we will celebrate these writers in other ways,” said Clarisse Rosaz Shariyf, who oversees PEN’s literary programming.

PEN’s response to Israel’s invasion of Gaza, following the deadly October 7 attack by Hamas, has been widely criticized by writers who believe the organization has

failed to fully condemn the war that has left tens of thousands of Palestinians dead, including hundreds of writers, academics and journalists.

An open letter published in March and signed by Naomi Klein, Lorrie Moore and dozens of others contends that PEN had not “launched any substantial coordinated support” for Palestinians and was not upholding its mission to “dispel all hatreds and to champion the ideal of one humanity living in peace and equality in one world.” The letter’s endorsers contrasted PEN’s forceful protests against the Russian invasion of Ukraine and alleged that PEN had done little to “mobilize” members against the Gaza war.

“Palestine’s poets, scholars, novelists and journalists and essayists have risked

everything, including their lives and the lives of their families, to share their words with the world,” the letter reads in part. “Yet PEN America appears unwilling to stand with them firmly against the powers that have oppressed and dispossessed them for the last 75 years.”

A PEN spokesman noted that the organization has issued numerous statements calling for a ceasefire and mourning the destruction of museums, libraries and mosques in Gaza, and has helped set up a $100,000 emergency fund for Palestinian writers.

PEN America CEO Suzanne Nossel said in a statement that PEN shared with many the “sorrow and anguish at the horrific costs of the Israel-Hamas war, including for writers, poets, artists and journalists. AP

CAPRICORN (Dec. 22-Jan. 19): Tidy up, organize and make your world more efficient. Don’t let outsiders mess things up or cause you to question what you are doing. Stay on track and put your energy and dedication into what matters to you, and positive change and opportunity will unfold.

AQUARIUS (Jan. 20-Feb. 18): Tap into what you enjoy doing most and turn it into something tangible. How you portray yourself to others will affect how they treat you. A positive attitude will make you the go-to person and confidant in your circle of friends.

PISCES (Feb. 19-March 20): An undercover approach to what you pursue will make it easier to achieve your goal. Take precautions to ensure you have stuck to the rules, regulations and protocol necessary, and consider how to make needed

BIRTHDAY BABY: You are captivating, funny and persuasive. You are energetic and helpful.

BY ZHOUQIN BURNIKEL

GMA Network’s latest anti-piracy campaign features multiawarded Jessica Soho

EA ING broadcast media company

G A Network continues its anti-piracy drive with a new video and a radio plug in Ilocano. The latest G A personality to join the network’s Stream Responsibly. Fight Piracy campaign is award-winning broadcast journalist Jessica oho.

In the latest video and radio plug, the host of the multi-platform leader and multi-awarded program Kapuso Mo, Jessica Soho addresses audiences in Ilocano about the importance of choosing to stream programs only through legitimate platforms. he also encourages them to check the o icial websites of streaming services to avail of legitimate subscriptions.

The anti-piracy video with Jessica premiered on April 8 during the broadcast of the One North Central Luzon program on G A Regional TV, and was also seen on G A Pinoy TV, G A ife TV, and G A News TV. The plug also aired on G A Network radio stations throughout Baguio, agupan and Tuguegarao. peaking on behalf of the G A Anti-Piracy committee, the network’s irst vice president and head of international operations Joseph T. Francia says, “To protect content-generating outlets such as G A Network and the creative industry, we must emphasize to our viewers in the Philippines and our Ilocano-speaking communities around the world that there are legitimate platforms through which they can enjoy watching their favorite programs. Jessica is a proud Ilocana and we are pleased that she is lending her voice in our advocacy for the bene it of her many followers here and abroad.”

The OJ Simpson saga was a unique pop culture moment. 3 decades on, we’re still wondering what it means

N“G A Network’s responsibility goes beyond providing accurate news and timely information,” says Oliver B. Amoroso, G A Network senior vice president and head of G A Integrated News, Regional TV and ynergy. “We also take the lead in encouraging our Kapuso audiences to support the creative industry by providing them with information about the risks of digital piracy through our Kapuso personalities addressing them in various Philippine languages.” ore information about G A’s anti-piracy initiatives can be found at The

EW YORK A dog’s plaintive wail. A courtroom couplet-turned-cultural catchphrase about gloves. A judge and attorneys who became media darlings and villains. A slightly bewildered houseguest elevated, brie ly, into a slightly bewildered celebrity. Troubling questions about race that echo still. The beginning of the Kardashian dynasty. An epic slow-motion highway chase. And, lest we forget, two people whose lives ended brutally.

And a nation watched a nation far di ferent than today’s, where the ravenousness for reality television has multiplied. The spectator mentality of those jumbled days in 1994 and 1995, then novel, has since become an intrinsic part of the American fabric. mack at the center of the national conversation was O.J. impson, one of the most curious cultural igures of recent U history.

impson’s death Wednesday, almost exactly three decades a ter the killings that changed his reputation from football hero to suspect, summoned remembrances of an odd moment in time no, let’s call it what it was, which was deeply weird in which a smartphone-less country craned its neck toward clunky TVs to watch a Ford Bronco inch its way along a California freeway.

“It was an incredible moment in American history,” said Wolf Blitzer, anchoring coverage of impson’s death on Thursday on CNN. What made it so beyond, of course, tabloid culture and the fundamental news value of such a famous person accused in such brutal killings?

THE SAGA ANTICIPATED

21ST CENTURY MEDIA

IN an era when the internet as we know it was still being born, when “platform” was still just a place to board a train, impson was a unique breed of celebrity. He was truly transmedia, a harbinger of the digital age a walking, talking crossover story for multiple audiences.

He was sports the very pinnacle of football excellence. He was stardom, not only for his athletic prowess but for his Hertz-hawking run through airports on TV and his acting in movies, like The Naked Gun. He embodied societal questions about race, class and money long before Nicole Brown impson and Ronald Goldman were stabbed to death on June 12, 1994. Then came the saga, beginning with the killings and ending only technically in a os Angeles courtroom more than a year later. The most epic of American novels had nothing on this period of the mid-1990s. Americans watched. Americans talked about watching. Americans debated. Americans judged. And Americans watched some more.

The generations-old chasm between white Americans and Black Americans was not helped by Time magazine’s decision to tactically darken impson’s mugshot on its cover for dramatic and,

Acting reenergizes Noel Trinidad

TURNING 83 this year, thespian Noel Trinidad always looks forward to going to the movie set of every new project. “Every new role I get to do, I always get really excited. I treat every new project like it’s my irst time the eagerness, the anticipation, the opportunity to give life to my assigned character, the spontaneity of the movements on the set, the chance to work with actors both old and new these things stimulate me,” Trinidad told us during a recent gettogether.

e shared, “I just inished work for an advocacy movie, titled Senior Moments, and I had a good time working with the small cast and crew. It’s very

similar to a set for an indie ilm and everybody gets to hobnob with everybody. I am amazed by the immense talent and professionalism of my younger coactors, speci ically iza i o and id ucero, who play my daughter and son-in-law in the movie.”

Trinidad is one of three lead actors in the movie that delves into the highs and lows and the many in-betweens of the lives of octogenarians and septuagenarians in modern Philippine society and it gives him happy emotions that a movie aims to tackle this and give importance to the seniors. He shares stellar billing with veterans Tessie Tomas and Nova Villa. “As we age, society in general tends to set us aside since we can no longer be as productive as we used to. Well, they give us little perks like discounts if we bring our senior’s card. I am glad that the entertainment industry still allows us old actors as they call us to work and do what we love doing because in our industry, there is no retirement age. Every new assignment re-energizes me, and that is precisely why I am happy every time I get a con irmation that I will work on a project, despite the many physical limitations actors my age are faced with.”

Trinidad courageously admits that his sense of hearing has waned through the years. “It is di icult

many said, racist e fect. For those who lived through that period, it’s hard to remember much in the public sphere that wasn’t crowded out by the O.J. storyline and its many components, including the subsequent civil trial that found impson liable for the deaths. One newspaper even ran a series of possible endings to the storyline, written by mystery novelists. ure, people were saying di ferent things. But it was, inarguably, a national conversation. The nation and its media are far more fragmented now. Rarely these days do Americans gather around the virtual camp ire for a common experience instead, small brush ires draw niche crowds in virtual corners for equally intense, but smaller, common experiences. This week’s eclipse was a rare exception.

“The media we consume is much more di fuse now. It’s so rare that we’re all glued to the same spectacle,” said anielle indemann, author of the 2022 book True Story: What Reality TV Says About Us.

“In 1994 we were watching our television sets and following along with news coverage,” indemann, a professor of sociology at ehigh University, said in an email. “But there wasn’t that parallel discourse happening via social media.”

CONNECTIONS BETWEEN THEN AND NOW

THE connections between the impson saga and today aren’t hard to ind. Judges and lawyers in high-pro ile cases are now regular fodder for the spotlight. One of impson’s attorneys, Robert Kardashian, paved the way for the next generation of his family to change the very face of how celebrity operates. A local os Angeles TV reporter who covered the case, Harvey evin, went

to live when your hearing is challenged, moreso when you are an actor. That is why I feel so grateful that people I work with are so patient with me on the set. ike this movie that I just inished, our director Buboy Tan, our producer ucil Nipa are so nice and

on to establish T , a luridly foundational pillar of modern multiplatform celebrity coverage and the outlet that broke the news of impson’s death.

And of course, as with so many American stories, there is the question of race.

impson’s acquittal on murder charges revealed a fundamental fault line: ome Black people welcomed the verdict, while many white people were in disbelief. impson probably confused matters more over the years by saying, famously, “I’m not Black.

I’m O.J.” But for many Black Americans who felt their interactions with police and the courts had produced unjust results, the acquittal was a notable exception.

“There was a sense that it’s only justice for a rich Black man to get o f when a rich white man would,” said John Baick, a professor of history at Western New England University.

Three decades on, that conversation isn’t over he’s certainly still discussing it with students. On Thursday, Baick invoked impson to talk about race, fame and wealth in class only a ter it ended did he ind out his subject had died.

A generation has passed since these events were fresh. And a ter thousands of hours of video, millions of written words and countless talking heads weighing in, the O.J. impson case stands as two things: an American moment like no other, and an interlude that contained so much of what American culture is and was becoming.

Ted Anthony, director of new storytelling and newsroom innovation for The Associated Press, has been writing about American culture since 1990 and oversees AP’s coverage of trends and culture. Follow him at www.twitter.com/ anthonyted.

respectful, and their team also works fast and wastes no time, so we can inish our scenes early.”

We asked Trinidad if he still has dream roles. His reply: “Not exactly dream roles but I want to experience playing the bad guy, the villain, the one who causes major con licts and who the audience will hate. I guess that I miss doing those kind of roles, because in recent past I always play the goody-goody dad or lolo I hope I get to do a nasty one soon, not necessarily loud but someone scheming, and evil, quiet but scary. Kaya pa natin ’yan!”

Trinidad says he eats in moderation, drinks his vitamins and exercises about half an hour a day. “I make time to exercise. I am lucky my mind is still sharp and I can still memorize lines and dialogues.”

Trinidad’s actor-son Joel has moved to New York to explore work possibilities in the acting business and the proud dad is happy that his son has started to work on theater productions. “I’m happy that he got some of my genes and that he inds joy in being an actor!”

Noel Trinidad is one perfect example of an actor who never lost his artistic calling. He continues to inspire others and show everyone what a true thespian

LPHL to host SEA Trail Running Cup, ups bid to become Asian trail running destination

THE Philippines is gearing up to welcome Southeast Asia’s trail running elites as it prepares to host the prestigious Southeast Asian Trail Running Cup in the locale of Bontoc, Mountain Province, from June 19 to 23, 2024.

Tin Ferrera, secretary-general of Philtra and Head for the Southeast Asian Trail Running Confederation, expressed her excitement about bringing the biennial competition to the country.

“We, as Philtra, and our athletes have joined the World Mountain Trail Running Championships and other big events outside the region and across Asia and we believe it’s time we show what we have. That’s why we are grateful to SEATRC for choosing our country as host,” she said.

About 200 athletes are set to compete in various categories, including the Long Trail, Short Trail, Mountain Classic, and Vertical Uphill. Participating countries will also vie for the coveted Team Champion titles for the long and short trail categories.

The SEA Trail Running Cup, organized by SEATRC, is the pinnacle of mountain trail running in the region. It gathers the finest trail runners from eight countries across SEA, showcasing their skills and endurance in the challenging and awe-inspiring terrains of mountainous landscapes.

John Ray Onifa and Arnie Macaneras, who are both Asia Trail Master Champions in 2022 and 2023, will pilot the Philippines’ men’s team, while the

women’s team will follow the leads of ATM 2023 runner-up Angelie Cabalo and Spartan Trail – Asia Pacific 2023 winner Elizabeth Dangadang.

All four captains have earned their spot as spearheads after their stellar run at the World Mountain Trail Running Championships 2023 together with the PHI team Randolf Gonzales, Larry Apolinario, and Godwin Mirar and two-times SEA Games gold medalist Christabel Martes, emerging as the top-performing Southeast Asian participants and lead the rally for Asian countries alongside Japan and Korea

Joining them are Skyrunning Champion Trisha Reyes and multi-awarded local Ultra distance athlete Rhys Pawid. U20 athletes Lance Naral, Rayven Eta, Sam Bango, Charlote Muyco, Luisa Cuerpo and Loida Domanog are also part of the Philippine roster and will compete in the Mountain Classic event.

Additionally, new recruits Romnick Tongkaling, Roberto Cain, Louie Niala, Angie Surriaga, and Noemi Fernandez are set to make their world competition debut at the SEA Trail Running Cup.

While the main competition is invite-only, local and international runners can still register for the Tawid Mountain Marathon on June 23, 2024. This open category features three divisions: 42KM Marathon, 21KM Half Marathon, and 12KM Mountain Classic. Participants for this category can earn Philtra 2024 championships qualifier points and even win

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the SEA Trail Cup Age Group Champion title.

The SEA Trail Running Cup is an opportunity to showcase the natural beauty and rugged terrain of the Philippines. With its diverse landscapes, ranging from lush and pine forests to majestic mountains and heritage sites, the country features an ideal setting for this exhilarating sport.

Bontoc, in particular, has been the venue for various trail running events for its scenic routes, delivering a physical and visually pleasing adventure for runners. It features diverse trails that wind through mountains, villages, and vistas that boasts the Mountain Province’s rich culture and heritage.

From technical ascents toward mountain tops to thrilling descents leading to falls, each leg of the SEA Trail Running Cup will present its unique challenges that ensure an unforgettable experience for all participants.

In addition to the competitive aspect, the SEA Trail Running Cup aims to promote environmental awareness and conservation efforts as it is ascribed to the Green Charter of the International Trail Running Association.

“This event not only highlights the athleticism and endurance of our participants. It also underscores the importance of preserving our natural environment for future generations to enjoy,” Ferrera said. “This event showcases to the world the Philippines as a sports tourism destination for trail running.”

For more information and updates on the Southeast Asian Trail Running Cup 2024, please visit https://philtra.ph/seatrc.

caffeine powered energy drink launched in the PHL

couldn’t

Grand Launch from being a

Enature officially arrived at the shores of the Philippines recently to begin winning the hearts of every Filipino.

A first of its kind, Enature provides a natural caffeine-powered energy to every Juan bold enough to make the switch.

To celebrate its arrival, the renowned Thailand-based company rocked the Mall of Asia Concert Grounds last April 2, 2024.

The country’s hottest influencers further intensified the launch with Akhiropads, Anjo Damiles, Kristine Sablan, Kristzan Delos Santos, Matt Staniago, Stella Bernardo, Cocomelon coming into the scene.

Starting off the event was the heartstopping announcement of winners of Enature’s New Year Promo, where nine lucky joiners won exciting prizes ranging from Apple AirPods, Apple Watch, and even the soughtafter iPhone 15 Pro Max, with quick cameos from ChuckyHits, Tyrone Tan, and Christiana Dimaunahan during the FB Live. The event surely didn’t skip a beat as just a few moments after, its dance competition, “Time To Dance,” woke up concert-goers’ vibes. The beautiful Sam Corrales introduced four of the best, upcoming Filipino dance crews who duked it out on stage with backflips, wacky costumes, and creative interpretations that visibly wowed the three celebrity judges Hip Hop International Elite’s John Matthew Q uiambao, sensational actress and social media personality Erin Ocampo, and PBB 737 Teen Big Winner and Hashtag Dance Group Member Hendrix Jim.

Keeping up the high momentum, Lily serenaded event-goers with new renditions of their classic songs such as Stars and Magbalik alongside a mix of OPM and International song covers like Justin Bieber’s “Stay” and Rivermaya’s “Elesi.”

While the crowd was still swooning over Lily’s performance, the CEO of Enature Philippines Ankhchayahlak C. Promthep, gave a warm welcome that encouraged Filipinos to switch to a better, healthier source of energy with Enature. And just as smooth and consistent as Enature’s power boost, Christian Floirendo, Head of Marketing & Trade, delivered an energetic speech that explained just exactly how this groundbreaking energy drink does what it does.

Corrales announced the winners of “Time To Dance,” making every attendee shake in excitement! Coming in third place and scoring P25,000 was the blazing hot OBS Fuego, followed by the ecstatic HighPower in second place with P50,000. The dance group who dominated the stage and snatched the grand prize of P100,000!

Wrapping up the event, Silent Sanctuary made the crowd roar in heartbreak and excitement from singing hits like Kundiman, Sa’yo, Ikaw Lamang, Pasensya Ka Na and many more to concert-goers’ delight

With a successful launch and a rapidlygrowing social media presence, Enature is set to win over the hearts of Filipinos with its healthier, tastier, and overall better source of energy to help every Juan be at their best, and stay at their best in school, in work, and in life. New

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US congressman wanted to understand AI. So he went back to a college classroom to learn

By David Klepper The Associated Press

WASHINGTON—Don

Beyer’s car dealerships were among the first in the US to set up a website. As a representative, the Virginia Democrat leads a bipartisan group focused on promoting fusion energy. He reads books about geometry for fun.

So when questions about regulating artificial intelligence emerged, the 73-year-old Beyer took what for him seemed like an obvious step, enrolling at George Mason University to get a master’s degree in machine learning.

In an era when lawmakers and Supreme Court justices sometimes concede they don’t understand emerging technology, Beyer’s journey is an outlier, but it highlights a broader effort by members of Congress to educate themselves about artificial intelligence as they consider laws that would shape its development.

Frightening to some, thrilling to others, baffling to many: Artificial intelligence has been called a transformative technology, a threat to democracy or even an existential risk for humanity. It will fall to members of Congress to figure out how to regulate the industry in a way that encourages its potential benefits while mitigating the worst risks.

But first they have to understand what AI is, and what it isn’t.

“I tend to be an AI optimist,” Beyer told The Associated Press following a recent afternoon class on George Mason’s campus in suburban Virginia. “We can’t even imagine how different our lives will be in five years, 10 years, 20

By Brooke Schultz

WITH a compact mirror in one hand and an eyelash curler in the other, Grace Xu told her roughly 300,000 TikTok followers she was likely about to be laid off.

She was right, she tells them in a subsequent clip. But she was planning to pursue a different career anyway: as a content creator.

“I guess the decision has been made on my behalf,” she tells viewers in the video posted earlier this year. “The universe has spoken.”

By all accounts, the US job market is holding strong, with employers adding 303,000 workers to their payrolls in March. The jobless rate has now remained below 4 percent for 26 straight months, the longest such streak since the 1960s.

But that’s of little comfort to the thousands of people who have nonetheless found themselves out of work. Hiring has largely been concentrated to a few industries, while tech and finance have only added a small number of jobs in the last 12 months.

Rather than trying to return to traditional employment, however, people like 26-year-old Xu are carving a new path for themselves through online content creation, where they can make money from brand deals and advertising by producing social media videos ranging

years, because of AI.... There won’t be robots with red eyes coming after us any time soon. But there are other deeper existential risks that we need to pay attention to.”

Risks like massive job losses in industries made obsolete by AI, programs that retrieve biased or inaccurate results, or deepfake images, video and audio that could be leveraged for political disinformation, scams or sexual exploitation. On the other side of the equation, onerous regulations could stymie innovation, leaving the US at a disadvantage as other nations look to harness the power of AI.

Striking the right balance will require input not only from tech companies but also from the industry’s critics, as well as from the industries that AI may transform.

While many Americans may have formed their ideas about AI from science fiction movies like The Terminator or The Matrix, it’s important that lawmakers have a clear-eyed understanding of the technology, said Rep. Jay Obernolte, R-Calif., and the chairman of the House’s AI Task Force.

When lawmakers have questions about AI, Obernolte is one of the people they seek out. He studied engineering and applied science at the California Institute of Technology and earned an M.S.

from educational to entertaining.

“I think most employees look at employers now and no longer think that they are going to find security—permanent security— in a job,” said Sarah Damaske, who studies labor and employment relations, and sociology at Penn State. “I think it makes it less risky to do something like go and be a content creator because employment with a traditional employer is so much riskier.”

In an estimated $250 billion industry, 4 percent of global content creators pull in more than $100,000 annually, according to Goldman Sachs Research. YouTube—considered by creators to be one of the more lucrative platforms—has more than 3 million channels in its YouTube Partner Program, which is how creators earn money. A spokesperson said the platform paid out more than $70 billion in the last three years.

Meanwhile, TikTok—which faces the threat of a national ban that could cost many creators an income stream—has seen a 15 percent growth in user monetization, according to a company spokesperson.

Many people turn to full-time content creation only after they’ve see a payoff from putting in the work, said Brooke Erin Duffy, a professor of communication at Cornell University. Or they are forced into it, as an avenue back to employment. The pandemic also reshaped

in artificial intelligence at UCLA. The California Republican also started his own video game company. Obernolte said he’s been “very pleasantly impressed” with how seriously his colleagues on both sides of the aisle are taking their responsibility to understand AI.

That shouldn’t be surprising, Obernolte said. After all, lawmakers regularly vote on bills that touch on complicated legal, financial, health and scientific subjects. If you think computers are complicated, check out the rules governing Medicaid and Medicare.

Keeping up with the pace of technology has challenged Congress since the steam engine and the cotton gin transformed the nation’s industrial and agricultural sectors. Nuclear power and weaponry is another example of

a highly technical subject that lawmakers have had to contend with in recent decades, according to Kenneth Lowande, a University of Michigan political scientist who has studied expertise and how it relates to policy-making in Congress.

Federal lawmakers have created several offices—the Library of Congress, the Congressional Budget Office, etc.—to provide resources and specialized input when necessary. They also rely on staff with specific expertise on subject topics, including technology.

Then there’s another, more informal form of education that many members of Congress receive.

“They have interest groups and lobbyists banging down their

While a computer science degree isn’t required, it’s imperative that lawmakers understand AI’s implications for the economy, national defense, health care, education, personal privacy and intellectual property rights, according to Chris Pierson, CEO of the cybersecurity firm BlackCloak.

how employees consider work, with many preferring to have more control over their schedules and the ability to do their jobs from home.

In February, nearly 440,000 people applied to start their own businesses—up nearly 50 percent from a monthly pace of 300,000 just before the pandemic, according to the US Census Bureau.

Among them are content creators, although they likely make up only a small portion.

For Xu, the pandemic allowed her to rediscover her hobbies. She started making content at that time as @amazingishgrace on TikTok. Her thrift flips—all sewn by hand— went viral and steadily built up a following. Even when she left her banking job to move into the tech

sector for a better work-life balance, she kept on making content.

When a round of layoffs happened last summer, Xu wondered if she should go to content creation full time, despite a deep fear of ruining things she loved by turning them into work. Her own layoff sped up her timeline.

“You just have to have this belief that, like, once your life is wide open for something, it will come,” she said, “otherwise you’ll drive yourself crazy thinking about it.”

Another content creator, who goes by Pot Roast’s Mom on TikTok, described staying in her engineering job for so long because she was afraid of not having health insurance while also having to pay off her student loan. But when her eponymous cat,

door to give them briefings,” Lowande said.

Beyer said he’s had a lifelong interest in computers and that when AI emerged as a topic of public interest he wanted to know more. A lot more. Almost all of his fellow students are decades younger ; most don’t seem that fazed when they discover their classmate is a congressman, Beyer said.

He said the classes, which he fits in around his busy congressional schedule—are already paying off. He’s learned about the development of AI and the challenges facing the field. He said it’s helped him understand the challenges—biases, unreliable data—and the possibilities, like improved cancer diagnoses and more efficient supply chains.

Beyer is also learning how to write computer code.

“I’m finding that learning to code—which is thinking in this sort of mathematical, algorithmic step-by-step, is helping me think differently about a lot of other things—how you put together an office, how you work a piece of legislation,” Beyer said.

While a computer science degree isn’t required, it’s imperative that lawmakers understand AI’s implications for the economy, national defense, health care, education, personal privacy and intellectual property rights, according to Chris Pierson, CEO of the cybersecurity firm BlackCloak.

“AI is not good or bad,” said Pierson, who formerly worked in Washington for the Department of Homeland Security. “It’s how you use it.”

The work of safeguarding AI has already begun, though it’s the executive branch leading the way so far. Last month, the White House unveiled new rules that require federal agencies to show their use of AI isn’t harming the public. Under an executive order issued last year, AI developers must provide information on the safety of their products.

Pot Roast, died two years ago, she turned to content creation full time.

“Her death just like revealed, or I guess opened my eyes, to that I liked nothing in my life besides her,” said Pot Roast’s Mom, who goes by her username to protect her privacy. “And when she died, I was like, OK, it’s time to make some changes.”

A community of women in the industry helped her shift from traditional employment to full-time content creation by demystifying brand deal pricing, and setting up payment tiers on platforms like Patreon, a subscriber service for content creators.

She has accrued 1.2 million followers on TikTok and a majority of her income came from Patreon last year—about $30,000—with a small portion coming from brand deals, around another $10,000.

Pot Roast’s Mom saw a video recently where a woman said making cat content earned her $200,000 in a year. More than likely, she said, that was a one-off.

“I think if you do something like this, you have to be ready to fail, ready to not make a lot of money,” she said. “You have to be realistic.”

Indeed, it takes time, energy and resources to turn content creation into a successful career, Duffy said.

Creators have to negotiate multivideo brand deals or sponsorships to have a semblance of steady income, but those can have monthslong pay-

When it comes to more substantive action, America is playing catch-up to the European Union, which recently enacted the world’s first significant rules governing the development and use of AI. The rules prohibit some uses—routine AI-enabled facial recognition by law enforcement, for one—while requiring other programs to submit information about safety and public risks. The landmark law is expected to serve as a blueprint for other nations as they contemplate their own AI laws.

As the US Congress begins that process, the focus must be on “mitigating potential harm,” said Obernolte, who said he’s optimistic that lawmakers from both parties can find common ground on ways to prevent the worst AI risks.

“Nothing substantive is going to get done that isn’t bipartisan,” he said.

To help guide the conversation lawmakers created a new AI task force (Obernolte is co-chairman), as well as an AI Caucus made up of lawmakers with a particular expertise or interest in the topic. They’ve invited experts to brief lawmakers on the technology and its impacts—and not just computer scientists and tech gurus either, but also representatives from different sectors that see their own risks and rewards in AI.

Rep. Anna Eshoo is the Democratic chairwoman of the caucus. She represents part of California’s Silicon Valley and recently introduced legislation that would require tech companies and social media platforms like Meta, Google or TikTok to identify and label AI-generated deepfakes to ensure the public isn’t misled. She said the caucus has already proved its worth as a “safe place” where lawmakers can ask questions, share resources and begin to craft consensus.

“There isn’t a bad or silly question,” she said. “You have to understand something before you can accept or reject it.”

out dates. Some rely on savings from their traditional careers to plug the gaps while they wait.

“The level of unpredictability when you’re dependent on a platform is quite profound,” she said. “Your success is dependent upon an algorithm or updated community guidelines or an audience that may or may not like you on any given day.”

Cynthia Huang Wang tried her hand in full-time content creation after she was laid off from her brand marketing job in February 2023. In January, she posted a TikTok about returning to the workforce, taking her 164,000 TikTok followers along as she updated her resume.

With the job market improving, Wang said she sees the appeal of returning to a stable income. Maternity leave at a corporate job also has pull as she and her husband consider starting a family.

There are limitations, though, to what she’s willing to return for, including pay, title and work she’s interested in doing.

“Going back to the office every day would be a nonstarter for me,” she said. “I think maybe like two, or max three, days because I still want to be able to create content. And I think going into the office every single day would really impact that.”

REP. Don Beyer, D-Va., speaks at the Capitol in Washington on September 9, 2021. To educate themselves on Artificial Intelligence, lawmakers have created a task force and invited experts to explain how AI could transform our lives. Beyer is taking it even further by enrolling in college to get a Master’s degree in machine learning. AP/J. SCOTT APPLEWHITE

Scheffler so tough, so good for another green jacket

AUGUSTA, Georgia— Scottie Scheffler spent more time looking at his feet than any of the white leaderboards at Augusta National, all of them showing what everyone was watching—a Masters champion again, the undisputed best player in golf.

He prefers to stay in his own little world, population one.

Nobody is close to him in the game at the moment.

Scheffler is No. 1 in the world by a margin not seen since Tiger Woods in his prime. In nine tournaments this year, he doesn’t have a round over par and has earned over $15 million.

And on Sunday, he delivered the greatest piece of evidence when he slipped into that green jacket.

Scheffler pulled ahead with magnificent shots around the turn, poured it on along the back nine as his challengers melted away with mistakes and closed with a four-under 68 to claim his second Masters in three years with a four-shot victory.

Silver medal in Nuvali big boost to PHL beach volleyball–Kiodai

By Aldrin Quinto

THEIR ecstatic smiles say it all. Ran Abdilla did fist pumps like he was the one on the court.

AJ Pareja’s shoulders moved to the beat as dance music blared through the loudspeakers. Kly Orillaneda, Gen Eslapor, Alexa Polidario and Jen Gaviola cheered lustily. Coach Joao Luciano Koidai and his lieutenants grinned as they exchanged congratulations.

At the center of it all, Rancel Varga and James Buytrago.

It was a familiar end-of-tournament scene when fans invade the pitch to celebrate with their heroes. The difference was the victory anthem “We are the Champions” by Queen was not being played.

Still, the crowd at the Nuvali Sand Courts by Ayala Land in the City of Santa Rosa roared as Varga and Buytrago received their silver medals and a trophy in the 2024 FIVB Volleyball World Beach Pro Tour Futures after a nip-and-tuck battle that Czech Republic’s Krystof Jan Oliva and Vaclav Kurka won on Sunday night, 21-16, 16-21, 13-15.

This performance was more valuable than silver.

A tough Rancel-Buy trago duo NO stranger to tough competition, Rancel Varga and James Buytrago were elated to be on the showcourt on the very last match of the event that featured 38 teams from 16 countries.

“We’re proud to earn a place in a tournament like this. It’s a different level, it’s great to be able to compete against international pro athletes,” Buytrago said.

A member of the bronze medal-winning Philippine men’s beach volleyball quartet in the Cambodia Southeast Asian Games last year, Buytrago noted that the whole team is glad to be given the chance to compete in front of the home crowd.

“We are honored to show what we can do, in front of a live audience. Here, Filipinos witnessed that the Philippine beach volleyball teams are a tough bunch,” he added.

The former National University star vows an even better performance in their next competition—the teams are looking to participate in other FIVB Futures events overseas—and he hopes to put on another show for the home crowd soon.

“We’ll strive to do better, especially since we still have a lot to prove, we have not earned the gold,” he said.

No regrets for silver medal

was

It wasn’t sugar rush for sure. Varga said he didn’t have even a piece of his birthday cake when he turned 24 on Friday, when the Philippine duo defeated 6-foot-6 Yusuke Ishijima and 6-footer Kensuke Shoji in straight sets.

“We knew the task at hand and we knew we could not waste an opportunity like this,” Varga said. He almost forgot about his birthday, since the interval between matches in FIVB events was just a few hours.

“Because I was really focused on this,” Varga said. “I feel blessed to be on this stage at this age. I thank God for this gift.”

“We have no regrets about this performance,” said Varga, stressing that they entered the tournament with little expectations. “Podium was a big surprise, we didn’t even expect to make the knockout rounds.”

For Varga, the fine stint in back-toback tournaments validates the idea of teaming up with long-time rival in the University Athletic Association of the Philippines.

“We’ll surely do better in the next events because we just proved that this partnership works,” said the two-time University Athletic Association of the Philippines MVP from University of Santo Tomas.

Two weeks of elite volleyball

“I had a lot of really talented players trying to chase me down, and I knew pars weren’t going to get it done,” Scheffler said.

Unlike two years ago when he won his first major, there were no doubts Sunday morning, no tears, and no wife to reassure him he was built for a moment like this. His wife, Meredith, was home in Dallas expecting their first child at the end of the month.

Scheffler made sure there was no drama, either.

Much like Woods he made the outcome look inevitable with sublime control, the difference being a peach shirt instead of Sunday red, and no fist pumps until it was over.

After sharing hugs with caddie Ted Scott and Collin Morikawa, Scheffler turned to face the crowd with both arms raised. “WOOOOOO!” he yelled, slamming his fist. Masters newcomer Ludvig Aberg, among four players who had a share of the lead at one point, lost ground

with his approach went into

and he made double bogey. Against a player like Scheffler, those mistakes are not easy to overcome.

Aberg closed with a 69 and was the runner-up, not a bad debut for someone playing in his first major championship.

Morikawa, who had two double bogeys to fall out of the hunt, shot 74 and tied for third with Tommy Fleetwood (69) and Max Homa (73), whose hopes ended on the par-three 12th with a double bogey from the bushes, not Rae’s Creek.

is pretty amazing at letting things roll off his back and stepping up to very difficult golf shots and treating them like their own,” Homa said about Scheffler. “He’s obviously a tremendous talent, but I think that is his superpower.”

Woods, meanwhile, closed with a 77 and finished in last place at 16over 304, the highest 72-hole score of his career. This came two days after he set the Masters record for making his 24th consecutive cut.

“I felt like I was battling the whole week,” Scheffler said. “It was a long week. I had to battle some ups and downs. And, you know, I’m very fortunate to be sitting here with you.”

Four players had a share of the lead at various points along the front nine, and then Scheffler began to

assert himself with three straight birdies around the turn.

The 27-year-old Scheffler is the fourth-youngest player to have two green jackets. He now has three victories against the strongest fields—Bay Hill, The Players Championship and the Masters—in his last four starts. The other was a runner-up finish in Houston. Scheffler finished at 11-under 277 and earned $3.6 million from the $20 million purse.

Perhaps even more daunting for the rest of golf is that Scheffler now has 10 victories worldwide dating to his first Professional Golfers Association (PGA) Tour title at the Phoenix Open just two years and two months ago.

During that stretch, Scheffler has finished in the top 10 a staggering 65 percent of the time.

It was the fourth straight Masters when the winner came to the 18th green with one arm in the green jacket. That doesn’t mean Sunday was a walk in golf’s most gorgeous garden.

He got up-and-down with a 10-foot birdie putt at the par-5 eighth. He hit the perfect wedge that caught the ridge and came inches within going in on No. 9, leaving him a tap-in birdie. And then he holed another 10-foot birdie putt on the 10th to build a two-shot lead.

“I hadn’t hit many good iron shots, which is a bit unusual for me,” Scheffler said. “And going into No. 9, it was nice to get that feeling of hitting a really well-struck shot and then it set me up to have a really nice back nine.” And then, just like in the best days of Woods, he let everyone else make the big numbers. In the group ahead, Aberg’s approach to the 11th slammed off the bank and into the water, leading to double bogey.

Homa managed a tough par on the 11th, only to hit it so long over the par-3 12th the golf ball plunged deep into bushes and left him no choice but to take a penalty drop. His chip didn’t reach the green, and two putts later he had double bogey.

Morikawa already had begun to slide by taking two shots to get out of a deep bunker left of the ninth green for double bogey. He all but sealed his fate with a shot into the water on the 11th and took double bogey. AP

Obiena in Chula Vista for Paris preps

Dagoon, fresh from her victory in Olongapo, ruled the girls’ singles 14-and-under and finished second in the 16-and-under with a victory over doubles partner Ayl Gonzaga, 6-2, 7-6(3) and a final setback to Joy Ansay, 6-3, 6-0.

By Josef Ramos

AWORLD-CLASS athlete needs a world-class facility so world No. 3 pole vaulter Ernest John “EJ”

Obiena set up training camp at the Chula Vista Elite Athlete Training Center to prepare for the Paris Olympics.

“Everything’s good here in Chula Vista when it comes to our training,” the 28-year-old Obiena, Asia’s top pole vaulter, said. “We’ve been training so hard trying to improve everything from physique to psychological aspects.”

Obiena is with his renowned Ukranian coach Vitaly Petrov Saudi Arabian pole vaulter Hussain Al Hizam in the California facility that

the US Olympic and Paralympic Committee put up in 1995 to train its elite and Olympic athletes. The training camp will last 45 days with Obiena heading to the University of California, Los Angeles to compete in his first outdoor tournament for the year in the Los Angeles Grand Prix.

They are pondering a second competition in the US before returning to Formia for the last phase of their preparation for the Olympics set from July 26 to August 11.

Obiena was the first Filipino to qualify for Paris when he cleared the Olympic standard of 5.82 meters last July 2 for a silver medal at the Diamond League Bauhaus Galan in Stockholm.

Obiena, meanwhile, only took in stride World Athletics’ $50,000 offer for each gold medal won in track and field in Paris.

“Reward or no reward, ny ultimate goal is to bring home the country’s second Olympic gold medal,” said Obiena, who praised Hidilyn Diaz-Naranjo, the country’s first Olympic gold medalist.

“Hidilyn will forever be our inspiration in the Olympics, and we will always be grateful to what she did for the entire nation,” he said.

Diaz-Naranjo missed a fifthstraight Olympic appearance after failing to make the cut—world’s top 10—in women’s -59 kgs of weightlifting. She won gold in Tokyo at -56 kgs which was scrapped for Paris.

Davila, the boys’ 16-and-under giant killer in the previous Group 1 tournament, narrowly missed retaining the crown after he bowed to top seed Kraut Gavin, 6-1, 6-4.

He, however, triumphed in the premier 18-and-under class with a 1-0 (ret.) victory over No. 1 Ariel Cabaral.

Dagoon and Davila emerged MVPs in the Group 2 tournament presented by Dunlop and held as part of the country’s premier talent-search sponsored by Palawan Pawnshop president and CEO Bobby Castro.

Davila teamed up with Lucas Go to trounce Cabaral and Raphael Paglalunan, 8-2, in the 18-andunder doubles final, while Dagoon and Gonzaga edged Lilith Rufino and Carolina Fandino, 8-7(3), in a nail-biting girls’ 14-and-under championship.

Competitions move to Roxas City from April 18 to 22. For details and registration, contact event organizer Bobby Mangunay at 0915-4046464.

JOAO LUCIANO KIODAI is pleased to see results in a short period. Rancel Varga and James Buytrago were paired only after their UAAP stints ended last season, while the other teams also started training together only a few months before the Asian Volleyball Confederation Beach Tour Nuvali Open last week. “I knew that when we started to play like we trained, we would have a performance on a good level to fight,” Kiodai said.

The Brazilian coach, tapped from the FIVB to handle the national team in December 2022, noted that Varga and Buytrago did very well in their first title match. “I have no doubt about my athletes. We progressed game by game. We played a great match in the final but it’s very new for them being in the final,” Kiodai said. “I think the mental game, they faced it, the challenge, they did good.”

“Small things we could have done, maybe we could have won it, but this is the game. The other team wants to win, too,” he said. “Those Czech guys played great volleyball during this weekend, very consistent.”

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Valientes playing in Asian hoops

TVHE Zamboanga Valientes are bringing their act with a team composed mostly of homegrown talent in the Asian Tournament which kicks off with its first leg from April 19 to 25 in Guangdong, China. Valientes owner Junnie Navarro, son of philanthropist / businesswoman Cory Navarro, said they are modestly aiming for a semifinals stint. “We are hoping crack the Final Four—that’s the first goal,” Navarro said. “Our team now is composed mostly of players from our region, because we have the talents. We want to show the world that we can compete with the other nations as well.”

in the eight-team Asian Basketball League last year.

Former Philippine Basketball Association (PBA) players Mike Tolomia and Rudy Lingganay lead the team also composed of Peter Alfaro of San Beda, Jerome Ferrer, Joewish Garcia, Das Esa and Job Alcantara.

The Valientes tapped former Rain or Shine import Nick Evans, University of the Philippines big man Malick Diouf, Med Salim and AJ Benson. They are coached by Bobidick de los Santos.

In other results, Quezon City’s Chloe Mercado continued to dominate the girls’ 18-and-U category, bucking a first-set scare to foil Reece Ballado, 7-6(4), 6-2, while Ella Paglalunan routed top seed Isabel Ataiza, 6-0, 6-1, to pocket the girls’ 12-and-U title. Makati City’s Alexandre Coyiuto, on the other hand, took the boys’ 14-and-U crown with a 6-0, 6-2 victory over Troan Vytiaco, while QC’s Marcus Go added another win in the boys’ 12-and-U class by crushing Matthias Go, 6-0, 6-0.

The Valientes are no aliens to competing abroad having finished fifth

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The Valientes will pay against the Ningbo Bulls, Hong Kong Jambo, Macau Black Bears, East Sea Pirates, Borneo Kings, Taiwan Mustangs, Pola Pilipinas RPG and Vantablack Dragons in the tournament. Josef Ramos