BusinessMirror April 30, 2019

PESO ON PATH OF RELATIVE WEAKNESS

By Bianca Cuaresma @BcuaresmaBM

T

HE local currency could experience weakness should the Bangko Sentral ng Pilipinas (BSP) fail to signal a more proactive stance in shifting to an accommodative monetary policy this year, according to a local economist.

In a commentary on Monday, ING Bank Manila’s Nicholas Antonio Mapa said BSP Governor Benjamin Diokno’s latest comments on monetary policy had market players extra cautious to bet on the local economy.

Data from the Bankers Association of the Philippines (BAP) showed that the local currency is back in 52-territory on Monday, to close trade at 52.11 to a dollar during the day. The total traded volume is at $957.02 million.

A few days ago, the local currency traded at 51

A TELLER counts Philippine peso bills in a bank in Makati City in this 2018 file photo. NONIE REYES

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to a dollar band up until mid-April.

“Diokno had previously indicated that the current monetary stance was appropriate but he quickly reversed course to dovish, pointing to oilprice movements as crucial to his decision,” Mapa said.

Apart from Diokno’s stance, Mapa said the peso will also likely continue its relative weakness against the US dollar ahead of the US Fed meeting.

What could reverse the weakness, Mapa said, is if inflation continues to slow down enough to warrant a BSP view that is more slanted toward easing monetary-policy rates soon.

“The Philippines will be reporting inflation data in the coming week which should figure into BSP’s decision on May 9. If inflation trends lower and Diokno retains his most recent stance, we could see some tactical Philippine Peso weakness as investors look to a reversal on May 9,” Mapa said.

“For now, the peso will likely be trapped in a

See “Peso,” A2

BusinessMirror A broader look at today’s business

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n Tuesday, April 30, 2019 Vol. 14 No. 202

‘Brownouts will hound PHL in next few years’

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By Lenie Lectura

@llectura

HE chairman of the country’s largest power-distribution firm warned on Monday that the country would continue to experience power shortage in the next few years unless more capacity is added to the grid.

“The continuing yellow and red alerts being experienced today may eventually lead to serious powersupply shortage in the next few years, unless immediate action is done to resolve the root cause of the problem, by adding more gen-

erating capacity and taking decisive action on the much-delayed construction of new power plants,” said Meralco Chairman Manuel Pangilinan.

Meralco’s seven power-supply agreements entered into with

various power supplies have yet to be approved by the Energy Regulatory Commission. The approval of the PSAs is crucial because the project proponents could not start construction until the ERC gives its green light.

“I could say I was vindicated but it does not change the situation. So, we just address the current situation...I am afraid I’d get criticized for saying this: This is going to be with us for the next two

to three years.”—Pangilinan

Atimonan One Energy Inc.’s first 2x 600-megawatt (MW) power plant, which was already certified as an Energy Project of National Significance, awaits ERC approval.

It was filed on April 29, 2016.

Meralco PowerGen (MGen) Corp., the power-generation arm of Meralco, noted that if this power project had been approved on time, then at least 600 MW would have

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Filipino workers are no slowpokes Manny F. Dooc

TELLTALES

A

NEWS item from Pyramid Hill, Australia, reported that the rural Australian town has a steadily growing Filipino community. If you come to the place, right across the town’s lone bus stop, is a Filipino food shop called Pyramid Hill Filipino Food Store that sells all kinds of Filipino foodstuff like ketchup, dried bananas, chicharon, Chippy cornflakes, bagoong, etc. This is an example of how the Filipino immigrants have revived the small town’s economy and ensured its survival. The report further mentioned that Filipinos now constitute one quarter of the town’s population of roughly 550 residents. As more Filipinos arrived to work in agriculture, new homes are built and schools are kept open.

Continued on A11

See “Brownouts,” A2

SMEs seen to fast-track rice imports, cut prices

Legislated wage, CBA route for NCR labor?

By Jasper Emmanuel Y. Arcalas @jearcalas

& Elijah Felice E. Rosales

S

F

ACING roadblocks in the processing of their wage petitions in the National Capital Region (NCR), workers can consider legislated and bargaining means to raise the earnings of minimum-wage earners (MWE) in the region.

This after Labor Undersecretary Ciriaco A. Lagunzad III said the four pending wage petitions filed before the Regional Tripartite Wages and Productivity Board-NCR (RTWPB-NCR) are unlikely to be processed until the anniversary date of the board’s previous wage order in November 2019.

See “Wage,” A2

tight range with a depreciation bias ahead of the FOMC meeting. The US-dollar: Philippine peso is seen to move in the 51.900 to 52.300 range until we see April inflation numbers on May 7, 2019, which could see inflation slip to the 2-percent handle,” he added.

In his opening remarks at the first quarter 2019 Inflation Report last week, Diokno said their assessment remains that the current monetary-policy rate is still “appropriate” to local economic conditions. “...the BSP will remain data-driven at all times in our policy decision-making, and our actions will be determined by our inflation outlook. The BSP remains focused on safeguarding and promoting price stability conducive to a balanced and sustainable economic growth,” Diokno added.

Last year, the Monetary Board moved the country’s monetary-policy rate 175 basis points upward to respond to the rising inflation at that time.

LINEMEN of an electric company are seen at work in this 2017 file photo. NONIE REYES

PESO EXCHANGE RATES n US 52.1450

@alyasjah

MALL enterprises will play a crucial role in pulling down the retail prices of rice under the new trade regime, as the government wants them to heavily import through the state-run Philippine International Trading Corp. (PITC).

PITC President and CEO Dave M. Almarinez said the government intends to involve more small and medium enterprises (SMEs) in the importation of rice under the liberalized regime.

With more players involved in the shipment of the staple, consumers will be provided with more options, which is one of the objectives of the rice trade liberal-

ization law, he explained.

“Under this [law], we will be acting for and behalf of small players in leveling their playing field with large players. They will be able to compete. What we want in the end is to reduce the prices of rice, and we see this possible if we accommodate the small players in the importation,” Almarinez said in an interview with the BusinessMirror on Monday.

He explained that small enterprises can apply for accreditation to import from the PITC. The PITC, in turn, will evaluate them and inspect their offices and storage facilities.

The state-run trading firm will then consolidate the volume of imports of all requesting parties, and will sign a contract with importers once the agreement is finalized.

n JAPAN 0.4675 n UK 67.3922 n HK 6.6481 n CHINA 7.7481 n SINGAPORE 38.2969 n AUSTRALIA 36.6788 n EU 58.1312 n SAUDI ARABIA 13.9064

See “Rice,” A2

Source: BSP (29 April 2019 )

A2

News

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Tuesday, April 30, 2019

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No ‘lay off Pag-Asa’ warning in Xi-Rody meet

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By Bernadette D. Nicolas @BNicolasBM

RESIDENT Duterte was not able to directly tell Chinese President Xi Jinping to “lay off” Philippine-occupied Pag-Asa Island during their bilateral meeting at the Belt and Road Forum in Beijing last week.

While Duterte supposedly raise the thorny issue by mentioning that there were “irritants” or challenges in the West Philippine Sea, the meeting did not dwell on the specifics of the developments in the area, especially in Pag-Asa Island, Malacañang said on Monday.

In a speech early this April, the

President made the lay off remark after the Western Mindanao Command of the Armed Forces of the Philippines confirmed the presence of Chinese vessels swarming around Pag-Asa, the largest of the Kalayaan Island Group that is a municipality of Palawan.

But with President Duterte

saying that there were irritants, Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a briefing that this statement from the President covers every new development that the Philippines is protesting when it comes to the territorial dispute, including the swarming of Chinese vessels in Philippine-occupied islands and the alleged harassment of Filipino fishermen.

Asked if the President was able to tell Xi his previous statement for Chinese maritime militia to lay off Pag-Asa Island, Panelo said: “Hindi, basta iyon ang pagkasabi niya. Kapag sinabi mo kasing irritants and challenges, iyon na iyon, refers to everything na conflict.

[No, but that was how he put it.

When you say irritants and chalentes, that’s it, it refers to everything in the conflict].”

However, Panelo said what was important is that the two leaders agreed to resolve the specific issues,

including the new developments in the West Philippine Sea through diplomatic means or through the bilateral consultation mechanism.

The Palace said the enforcement of the arbitral ruling may also be discussed in this same mechanism.

“President Xi said, and the President of ours agreed, we are allies. Allies strengthen each other. Allies do not destroy each other. So that is a good statement because that means if we are allies, then we should talk,” Panelo said.

However, Panelo also confirmed that the Chinese leader reiterated that they do not recognize the 2016 UN arbitral ruling in favor of the Philippines, which brought the case to protest Beijing “excessive claims” in the South China Sea that it claims in near entirety.

Despite this, the Palace stood firm that the President is “very assertive on our principled stand that the territory is ours.”

National Security Adviser Her-

mogenes Esperon Jr. earlier told reporters that President’s discussion with Xi on the West Philippine Sea was “very frank,” “very substantive” and “very productive.”

Esperon also quoted the President as saying “I will bring up the arbitral ruling in another two years.”

Esperon also said he has recommended to President Duterte the establishment of marine protection zone, including Pag-Asa Island, to safeguard the environment and limit fishing activities in the country’s domain. He said the President was open to the idea, which is similar to a proclamation of a portion of the Philippine Rise as a marine protected area.

Foreig n A f fa i rs Sec ret a r y Teodoro L. Locsin Jr. has also hailed Esperon’s proposal to declare PagAsa and Eastern Kalayaan as marine protected areas.

Esperon’s proposal to declare Pag-Asa Island and Eastern Kalayaan as marine protected areas came

in the wake of the reported harvesting of giant clams by Chinese vessels in the Panatag (Scarborough) Shoal. The Panatag or Bajo de Masinloc has been a traditional fishing ground for generations of Filipino and other Asian communities. It is located about 198 kilometers (123 miles) west of Subic.

US Embassy closed May 1

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HE Embassy of the United States in the Philippines and affiliated offices will be closed to the public on Wednesday, May 1, in observance of Labor Day, a Philippine holiday.

The embassy and affiliated offices will resume regular services on Thursday, May 2.

GAS, DIESEL, KEROSENE PRICES UP SC asked to void MMDA’s Edsa ban on provincial buses, terminals O IL prices are on the rise once more. The oil companies said on Monday that they will raise gasoline prices by P0.75 per liter, diesel by P0.80 per liter and kerosene

by P0.90 per liter.

Seaoil Philippines, Total Philippines, Eastern Petroleum, PTT Philippines, PetroGazz, Petron Corp. and Pilipinas Shell said they will adjust their pump prices at 6 a.m. of April 30.

Brownouts. . .

Continued from A1

been added to the grid this year.

“We have already reached in April the peak demand level that was recorded in May last year. At least 626MW is needed and this is just about the estimate that the DOE keeps on saying. So, the DOE is right in saying that we need new capacity of 600MW every year as demand keeps rising,” noted MGen President Rogelio Singson.

Pangilinan said that while the private sector continues to heed the government’s call in putting up capital-intensive power projects, industry players could not stress enough the support they need from the regulators.

“I could say I was vindicated but it does not change the situation. So, we just address the current situation…I am afraid I’d get criticized for saying this: This is going to be with us for next two to three years,” said Pangilinan.

He urged the government to “get their approval processes done as quickly as they can” so that consumers won’t suffer from power outages and high electricity costs.

“I don’t understand, that’s the money of the private sector…. Let the people who have the means and reasons for building power plants, be it coal or gas, to build the capacity. I really don’t know what they are looking for. Sigurado, mangyayari na naman ito [For sure, this will happen again] next year,” warned Pangilinan.

Pangilinan was referring to the rotational brownouts that hit Luzon this month.

Eighth red alert

FOR the eighth time this month, the Luzon grid was placed on red alert on Monday. A red alert notice is raised when there is severe power deficiency and

RCEF. . .

Other firms are expected to announce their price increase adjustment soon.

T he De pa r t ment of Ener gy (DOE) cited supply disruptions and r ising geopolitica l concerns, especially over the tensions between the United States and Iran, as main reasons for the adjustment. Local pump prices are reflective of the

zero contingency reserve. When the red alert is issued, power interruptions are expected to happen.

“We are still on red alert today. In fact it’s already the eighth day of manual load dropping that Meralco has been doing since April 10. One of the reasons for the deficiency is there are still three plants in Bataan that are still isolated from the grid,” said Meralco Head of Networks Ronnie Aperocho.

The GN power unit 2 and the two units of the San Miguel plants in Limay are still offline, following the 6.1-magnitude earthquake that hit Luzon last week. These three plants have a combined capacity of 660MW. “Our forecast is even if these three plants would be able to go back to the grid because of the increasing power demand during the summer months, especially next month, we still see several days of yellow and red alert and will even, in fact, extend until the month of June,” said Aperocho.

The recent spate of yellow and red alerts signal an increase in spot market prices. In fact, the market operator said that the secondary price cap was triggered twice in the April supply month, which implied that there were sustained high prices in the market.

“While we are anticipating lower coal and natural gas prices from IPPs and PSAs, these maybe more than offset by the higher spot prices, which we will see as a higher generation charge this May,” said Meralco Head of Utility Economics Lawrence Fernandez.

The ERC, for its part, has been saying that the only time it can act on the pending PSAs is when the Supreme Court has decided on the case.

“The problem is nasa [with] SC. Wala kami magagawa [There’s nothing we can do]. Hope the SC will be compelled to act on it,” said Pangilinan.

Continued from A12

Well it’s supposed to be part of the RCEF but there was a misunderstanding in allocation,” she added.

Sombilla pointed out that P1 billion from the initial P5 billion funding to help rice farmers, which was released last year by the DBM, is already being credited to farmer accounts under a Memorandum of Understanding entered into by the Agricultural Credit Policy Council (ACPC) with the Land Bank of the Philippines (LandBank) and the Development Bank of the Philippines (DBP).

Meanwhile, the remaining P4 billion of the initial P5 billion allotment is still being threshed out by the Neda and DA, with the funds being eyed to be provided to agencies connected to the implementation of RA 11203.

“We are asking the DA to help us provide funds for Philippine Center for Postharvest Development and Mechanization (PhilMech) and the Philippine Rice Research Institute (PhilRice). But they still don’t have their

movements in the international petroleum market.

The US announcement that it won’t renew waivers for countries to import Iranian crude after May 2—with Iran threatening retaliation and China declaring its right to purchase—and Saudi Arabia’s cautious approach on raising its own output raised worries on tighter global oil supplies. Lenie Lectura

BTr. . .

The 183-day T-bill was awarded the full P5 billion on offer with bids amounting to P10.947 billion.

The average annual rate for the security settled at 5.978 percent, a reduction of 1.80 basis points from the previous rate of 5.996 percent.

Bids for the 92-day T-bill amounted to P9.850 billion with the auction committee awarding the full P4 billion on offer.

The average annual rate for the security settled at 5.563 percent, a decline of 4.50 basis points compared to the previous auction rate of 5.608 percent.

Meanwhile, Sta. Ana explained that after the road show in Europe this week —in Zurich, London, Milan, Frankfurt and Paris—the BTr will assess investor sentiment to guide it in choosing an offer price right after.

“For this week, we will round up the deal road show. Of course, we are going to several cities, and next week we will decide when to price. When we talk to investors we are saying benchmark size issuance, and the tenor is actually something that we still have to decide on once we get the feedback from the investors that we will be talking to this week,” Sta. Ana said.

He explained that if market conditions seem favorable to the country, the benchmark size of $500 million can still be upsized.

“Actually, we did not specifically mention an amount in our approvals, we have flexibility to actually go over $500 million if it’s advantageous for us.

But benchmark size in international debt markets is about $500 million,” he added.

In terms of the Panda bond issuance being eyed for May, he explained that approval from the People’s Bank of China has already been secured, and that the only pending approval is that of the National Association of Financial Market Institutional Investors (Nafmii) for the country’s Panda bond float. Rea Cu

respective guidelines [in line with the implementing rules and regulations of RA 11203], so we still don’t know how much they really need. The guidelines should be issued 15 days after the IRR publication. We are doing it [guidelines] now, I think it’s in the final stages, I think they are being reviewed by the DA,” she added.

Peso. . .

Continued from A12

Continued from A1

As inflation continues to lose steam, some economists are calling for a cut in the monetary-policy rate to spur the country’s economic growth, especially now that it is expected to take a hit from the delays in the budget implementation in the country.

The latest BSP survey of private economists showed that expectations for inflation had gone slower than earlier expected, with an average forecast of 3.3-percent inflation rate for 2019, lower than their 4.1 average forecast in the December 2018 survey. For 2020, the economists’ average forecast was also lower at 3.4 percent, from the 3.8 percent in the December 2018 survey.

Their projection for the 2021 inflation, meanwhile, remained at 3.4 percent.

Wage. . .

A

KO Bicol party-list group on Monday filed a petition asking the Supreme Court to enjoin the Metropolitan Manila Development Authority (MMDA) from banning all provincial buses along Edsa, and revoking all permits issued for the operation of bus terminals and other public-utility vehicles as part of traffic-easing measures.

The party-list group through lawyer Joselito Guianan Chan sought the issuance of a writ of preliminary injunction and/or a temporary restraining order as an immediate relief against the implementation of MMDA Regulation 19-002, Series of 2019.

The 44-page petition also asked the Court to eventually declare the said regulation null and void for being contrary to the provisions of the Constitution.

It argued that the revocation of business permits granted to all public-utility bus terminals and operators is tantamount to an exercise of police power

Rice. . .

Continued from A1

Aside from the cost of goods, importers will pay for shipping expenses, tariffs and taxes, and the PITC service fee of P25 per 50-kilogram bag of rice. The PITC will shoulder the majority of the logistical requirements, such as loading, shipment and discharge of imports.

As the government’s trading arm, the PITC is tasked to engage in both export and import of traditional and nontraditional products not normally pursued by the private sector.

“It is one of our functions and mandate, as an international trading corporation, to do importation and export of commodities, including rice and other goods, to bridge the gap should there be a shortage in local supply. However, this does not limit us from actually helping the small and medium enterprises,” Almarinez said.

“Part of our function, too, is to provide small players with an avenue to compete with large enterprises in the importation and distribution of products in the market,” he added.

The PITC chief said the largest volume of rice that his agency procured was in 2010, when it imported for the National Food Authority (NFA) 1.4 million metric tons (MMT) of rice. According to Almarinez, the PITC’s usual rice import volume is between 200,000 metric tons and 300,000

Continued from A1

He noted there is currently no supervening condition—any extraordinary increase in the prices of basic goods and services—to exempt the petitions from the one-year restriction.

The pending petitions are from Kilos Na Manggagawa, Metal Workers’ Alliance of the Philippines (MWAP), and BPO Industry Employees Network (BIEN), which were filed last week.

On Monday, TUCP also filed for a P710 across-the-board hike petition to address the nutritional deficiency of MWEs in NCR. Lagunzad explained the RTWPB-NCR “cannot touch” the TUCP petition due to its across-the-board nature. “The Supreme Court made a ruling on the issue whether the board can grant increases across the board. The Supreme Court said no, stating the board can only increase minimum wages as provided by law,” Lagunzad said.

Legislated option

ASIDE from a wage petition, Lagunzad said Congress has the authority to raise minimum wages nationwide.

“The power to increase wages is a delegated power from Con-

which the MMDA and the Metro Manila Council, composed of all the mayors in the metropolis, do not possess.

“There is no single word or syllables in RA 7924 [the law creating MMDA] that grants respondent MMDA police power, let alone legislative power. Even respondent MMC has not been delegated any legislative power,” the petitioner insisted.

Even assuming that the MMDA and MMC have police powers, the petitioner argued that the implementation of the assailed regulation is an invalid exercise of police power.

It noted that provincial buses are not the main cause of traffic congestion along Edsa but city buses and private motor vehicles.

In support of its argument, the group noted that data on Edsa’s annual average daily traffic in 2017 showed an average of 367,738 vehicles traverse Edsa daily, with 67 percent, or 247,527 of these being private motor vehicles.

It added that based on the survey 60 percent to 70 percent or an average of 148,516 to 185,645 private motor vehicles per day are single occupancy vehicles.

On the other hand, city buses ply along Edsa reach an average of 12,000 units daily, compared to only around 3,300 provincial buses The group pointed out that the planned closure of provincial bus terminals would contravene the Public Service Act and related laws which mandate public utilities to provide and maintain their own terminals as a requisite for the privilege of operating as common carriers.

Petitioner also argued that implementation of the regulation encroaches on the powers and functions of the Land Transportation Franchising and Regulatory Board (LTFRB) relative to the issuance, amendment and revocation of certificates of public convenience (CPCs) to public utilities. Joel R. San Juan

MT per shipment.

process provided to media on Monday, it would take a maximum of 28 working days for a new player to import rice under the new trade regime.

As for traders and importers who are already included in the government’s database, it would take a maximum of 21 working days to complete the whole process from application to discharge of shipments at the port.

Interested rice importers and traders need only to be registered with the Bureau of Plant Industry which issues the sanitary and phytosanitary import-clearance (SPSIC) prior to importation.

Small players could also tap the PITC to serve as a consolidator and middleman in undertaking the whole importation process.

Importation via the PITC for new players may take a maximum of 25 working days while it would take a maximum of 18 working days for registered parties—from SPS-IC application to shipment release.

In a separate interview, Sombilla told the BusinessMirror that small players who will tap the PITC will help cut the retail price of rice.

She said the PITC would serve as the government’s rice importation arm in times of emergencies, such as supply shortages, under the new trade regime.

“The PITC have traders around them and in case of emergency, in case we really need to import rice, it can mobilize the traders just like what we did before,” she said.

Streamlined import process

NATIONAL Economic and Development Authority (Neda) Assistant Secretary Mercedita A. Sombilla said traders could now bring rice into the country in less than a month after the government streamlined the importation process under the new trade regime.

Sombilla said the removal of the requirement for an import permit or license from the NFA hastened the process for the private sector.

In the previous trade regime, it would take two to three months for rice imported by the government or the private sector to arrive in the Philippines.

“So [this new importation process is] very, very much faster than what we experienced when NFA issued the clearances and licenses to importers,” Sombilla told reporters in a press briefing in Manila on April 29.

Republict Act 11203, or the rice trade liberalization law, scrapped the power of the NFA to regulate the country’s supply of the staple, particularly imports, to encourage local players to go into rice trade.

The move is seen to bring down the retail prices of rice due to the anticipated influx of cheaper imports, which is in line with the Duterte administration’s thrust to provide available, accessible and affordable staple to Filipinos, according to economic managers.

Under the draft milled rice importation

gress. That is why wage orders are quasi-legislative,” Lagunzad said.

Last year, TUCP Party-list Rep. Raymond Mendoza filed House Bill 7850 for a P320 minimum-wage hike nationwide.

This is apart from the P750 legislated national minimum-wage hike being pushed by Kilusang Mayo Uno. On Monday, Mendoza admitted the bill remains pending in the 17th Congress, which will soon be ending. TUCP party-list will refile it in the next Congress if it wins the May elections.

Having a labor union does not also guarantee a CBA, said TUCP’s Alan Tanjusay, “because data on the profit of a company is not immediately accessible to workers. The information is used by [labor] unions to negotiate for their benefits.”

Bureau of Labor Relations (BLR) data showed that of the 1.5 million union members in 2017, only 14.7 percent or 220,905 were covered by CBAs.

Bargaining restrictions

MEANWHILE, the Senate Committee on Labor, Employment and Human Resources Development is poised to hold public hearings to review proposals seeking wage hikes.

This was confirmed on Monday by Sen. Joel Villanueva, panel chairman, even as the initial hearing date has yet to fixed.

“Therehasbeenademandforanincreaseinwage,”Villanuevasaid, adding: “Consistent with this, I propose that we look at [a] living wage.”

Inastatement,Villanueva“implored”theDOLEandtheNational Economic and Development Authority to “work together and propose to the legislature a study on the living wage and the necessary policy reforms to achieve this.” Samuel P. Medenilla and Butch Fernandez

ANOTHER option for labor groups, Lagunzad said, is through individual or collective bargaining with their management.

The Employers’ Confederation of the Philippines raised the proposal during the wage deliberation in Metro Manila last year.

TUCP, however, said the bargaining option is ineffective due to the low union density in the country.

“It is very duplicitous of the employers to point to CBA as an alternative to minimum-wage fixing as they have been busting unions left and right, weakening the capacity of employees to negotiate for wage increases at the plant level,” TUCP said in a statement.

Senate hearing

www.businessmirror.com.ph

BusinessMirror

Tuesday, April 30, 2019 A3

A4 Tuesday, April 30, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

DOLE sees long-term jobs demand amid ‘BBB’ boom

By Samuel P. Medenilla @sam_medenilla

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HE Department of Labor and Employment (DOLE) on Monday assured that the Duterte administration’s “Build, Build, Build” (BBB) program would generate employment opportunities even beyond the construction sector.

In a interview, Labor Undersecretary Ciriaco A. Lagunzad III said this is expected as the BBB program also raises demand for construction-related materials.

“If you look at the backward linkages [of the BBB], you will see business like hardware selling nails, cement and steel are also booming,” Lagunzad said.

This was supported by the fullyear 2018 Labor Force Survey (LFS) analysis of the Philippine Statistics Authority (PSA), which showed significant growth in the construction and manufacturing sector.

“The share of both construction and manufacturing subsectors showed an increase from 8.5 percent in October 2017 to 9.5 percent in October 2018, and 8.7 percent in October 2017 to 8.9 percent in October 2018, respectively,” PSA said.

This is equivalent to 328,000 jobs in the construction subsector and 144,000 in the manu-

facturing subsector.

Service-sector potential

LAGUNZAD said the labor impact of the BBB program will also extend to the service sector, especially once its big-ticket infrastructure projects are completed like highways and trains.

“The demand [for service workers] will come in once maintenance for the highway and train start,” Lagunzad explained.

The labor official issued the clarification after IBON Foundation Inc. criticized the projected labor gains of the BBB to be limited to construction jobs.

The independent think tank lamented how the said jobs in the said subsector are not only temporary, but also low paying. Rather than the government spending on construction, IBON said the government should directly spend the amount in the manufacturing and agriculture sector.

As of 2016, PSA’s occupational wage survey (OWS) showed the average median wage of construction workers was pegged at P11,612 a month, or about P387 per day.

The OWS is conducted every two years. The result of its 2018 edition is yet to be released by PSA.

Overall effect

LAGUNZAD, however, said the pay

of construction workers may already have already improved amid the increasing demand for their services.

He noted shortage of construction workers is now more prominent, especially in Metro Manila.

“They [construction industry representatives] are telling me they have to go as far as Bicol to get workers since their workers are employed in the Build, Build, Build,” Lagunzad said.

In terms of employment generation, Lagunzad said the BBB is already doing its intended effect.

Citing the road map of the Department of Trade and Industry (DTI), DOLE’s Bureau of Local Employment Director Dominque R. Tutay affirmed Lagunzad’s observation of the job generation impact of BBB. “The road map targets 3 million additional jobs until 2030 from the current stock of 4 million,” Tutay told the BusinessMirror in an interview.

“Based from my computation between now until 2030, that is an annual requirement of 250,000 construction workers,” she added.

Measuring the overall impact of BBB, Lagunzad said, involves considering all of these factors.

Our judgment [of the BBB] should not be based on a snapshot [observation] but understanding its effects to the entire economy,” Lagunzad said.

DTI vows price cap if cement price hits P240/bag

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HE Department of Trade and Industry (DTI) will impose a price cap on cement should retail prices hit P240 per bag in light of the

delay in Tariff Commission hearings.

Trade Secretary Ramon M. Lopez said he will enforce a suggested retail price (SRP) of P225 per bag on

cement if proven the prevailing price of the commodity is now at P240 per bag. He vowed to look into the situation and verify the figures, as well as assess how the delay in Tariff Commission hearings could affect cement prices.

“Say, P240 per bag of cement is prevalent, then we come in [and reduce] it back to P220 per bag to P225 per bag,” Lopez said in an interview with reporters on Monday.

The Tariff Commission is investigating the merits of imposing a definitive safeguard measure against imported cement as endorsed by the DTI in January.

Further, it is hearing the arguments of cement manufacturers and importers on whether there is a need to protect the local industry.

However, the tariff body last week decided to postpone public hearings from May 6 to 10, asking for more time to complete its plant visits and data verification.

Laban Konsyumer Inc. President Victorio Mario A. Dimagiba said the delay in investigation will lead to the extended implementation of the safeguard duty on cement. Without an SRP in place, he argued, cement producers can take advantage of the situation and jack up prices at their will.

“Laban Konsyumer feared then [the safeguard duty] could be used to increase prices, coupled with [the] DTI’s inaction on their own order to set SRP,” Dimagiba told the BusinessMirror.

Elijah Felice E. Rosales

www.businessmirror.com.ph

Whistle-blower protection and its impact on business

By Henry J. Schumacher

T

HE European Parliament finally voted on April 16, 2019, to approve groundbreaking legislation that will harmonize and strengthen whistle-blower protections across the European Unions (EU) member-states.

Given the fact that business in the Philippines has requested both Houses of Congress to pass whistle-blower protection bills into law also—so far without success, it is essential for both lawmakers and business executives to be aware of the implications.

The implications of this new law in the EU are significant, as whistle-blowers will enjoy a wide range of legal protections that should make it dramatically easier for employees to speak up when they see misconduct inside an organization. Moreover, all employers with at least 50 employees will be required to run internal reporting channels of a high standard.

In light of this development, businesses are well-advised to consider the strong benefits of thinking about how they can ensure their corporate culture is firmly centered around strong morals and ethical practices. Indeed, if companies fail to drive the message of ethics to the core of their organization, they can no longer expect employees to keep quiet in the face of harsh consequences, as is commonly the case now.

The whistle-blower directive is a major moment for businesses in the EU (and hopefully soon in the Philippines) and a great opportunity to ramp up the focus on ethics in all organization as the best defense against misconduct and its many consequences.

What does the whistleblower protection mean for businesses?

IN practical terms, all employers in the public and private sectors with at least 50 employees will be required to set up internal reporting channels. At a minimum, the directive requires that internal reporting channels contain the following elements: 1. Internal channels and procedures for reporting which: Are secure and guarantee confidentiality of the reporting party and any other mentioned

third party; Allow for acknowledgment of receipt within seven days; Have clear and easily accessible information on reporting to external authorities; and Allow for reporting in writing and/or orally through telephone lines or other voice messaging services.

2. The ability to receive reports both from the organization’s employees and other persons in contact with the entity in a work-related context. Such persons could be third parties, suppliers, partners, etc.

3. Recordkeeping in line with confidentiality requirements for an appropriate time frame, either as a stored audio recording or in the form of detailed minutes signed by the reporting person.

The introduction of the directive is a major opportunity for companies to push for a strong ethical culture that will prevent misconduct, but also encourages employees to use internal channels in order to build trust.

Whistle-blowers are free to elect to bypass internal reporting channels. What does this mean for businesses? Crucially, whistle-blowers will now feel emboldened to bypass internal reporting channels if they do not feel confident that their notifications will be taken seriously, handled confidentially, or that they will face retaliation of any sort as a result of their decision to raise their concerns internally.

T he introduction of legal protection for whistle-blowers bypassing internal reporting channels is clearly a strong argument for a focus on developing your internal ethics culture.

However, t h is development does not stand alone; other quest ionable pract ices t hat stifle reporting of misconduct have come under fire recently.

Consider mandator y arbitration clauses: a widely used means of alternative dispute resolution. It is common in the

corporate world to include mandatory arbitration clauses in employment contracts. This means the employee’s claims regarding harassment, discrimination, and other related topics may not be fought in court but have to be settled in private arbitration.

Another practice that is subject to heavy criticism at the moment is the use of nondisclosure agreements (NDAs) struck between employers and whistleblowers that attempt to raise concerns internally. A lot of criticism has been directed at the treatment of Howard Wilkinson, the former head of Danske Bank ’s Baltics trading unit, who blew the whistle on what is suspected money-laundering said amount to over €200 billion.

The EU whistle-blower directive contains a provision requiring states to ensure that the rights and remedies provided for in the directive may not be waived or limited by any type of agreement, including a predispute arbitration agreement. This provision should in effect, depending on implementation, ensure that NDAs such as the one Wilkinson had to sign will no longer be upheld in court.

The bottom line

FOLLOWING the adoption of the whistle-blower directive on April 16, 2019, EU member-states will now have two years until the directive will enter into force in April 2021.

Organizations with more than 50 but less than 250 employees will have an additional two years to make sure they are compliant.

The whistle-blower directive is a groundbreaking piece of legislation. Whistle-blowers throughout the European Union are set to enjoy wide-ranging protections from retaliation when they report their concerns, regardless of whether the concerns were raised internally or not.

The only answer to this development for business is to double down on their efforts to implement a strong ethics and compliance culture. Indeed, the best defense against misconduct is to ensure that employees feel supported to voice their concerns internally without fear of retaliation. If business fails to ensure employees feel confident their concerns will be handled carefully and diligently, they may just elect to approach the authorities directly, which means business misses out on a chance to handle the concerns internally, as much as possible.

Feedback is more than welcome; email me at Schumacher@eitsc.com.

Same set of unmet workers’ demands on Labor Day dialogue–TUCP, KMU

I

T is still the same set of demands from labor groups even after two years of consecutive Labor Day dialogues with President Duterte.

Trade Union Congress of the Philippines (TUCP) Spokesman A lan Tanjusay said the President still has yet to fulfill many of his Labor Day promises to labor groups.

T he said commitments include the implementation of the International Labor Organization (ILO) Convention 151 or the Right of Public Sector Workers to Unionize, or form Unions.

Despite already being ratified by the Senate in 2017, the convention still needs a corresponding law to be fully implemented.

Tanjusay also cited the passage of the much-awaited Security of Tenure (SOT) bill, which seeks to further restrict the practice

of contractualization.

While Duterte has already included this in his list of priority bills, the legislation remains pending in the Senate.

T he K i lusang Mayo Uno (KMU), for its part, also raised the same concern on the apparent lack of government guarantee in the SOT of workers, as well as restoring the national minimumwage rate.

“He does not even pretend anymore to want to fulfill the promise he made to workers,” KMU stated.

The KMU, together with other labor groups, has been demanding for the abolition of the minimum-wage rates set by the regional wage board for supposedly not being responsive to the needs of workers.

The labor group is pushing for the legislation of P750 national minimum wage.

The issues raised by TUCP and KMU were among those raised by labor leaders in their Labor Day dialogue with Duterte in the last two years.

As of Sunday, the TUCP and the Federation of Free Workers (FFW) have yet to receive any invitation from the Department of Labor and Employment (DOLE) for another similar dialogue with President Duterte on the next Labor Day on Wednesday.

Leaders from TUCP, FFW and other affiliate groups of the labor coalition Nagkaisa are the groups usually invited by the DOLE for the event.

The BusinessMirror tried to get the reaction of the DOLE i f t h e r e i s a l r e a d y a no t h e r planned Labor Day dialogue this year, but it has yet to reply on the quer y as of press time.

Samuel P. Medenilla

www.businessmirror.com.ph

BusinessMirror

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If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

A8

Tuesday, April 30, 2019

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Tuesday, April 30, 2019 A9

In the ad material of Notice of filing of Application for Alien Employment Permits published on March 30, 2019, the Company name and Address of Mr. Fu, Changling should have been read as CHINA CONSTRUCTION GROUP CORPORATION LIMITED PHIL. BRANCH located at Unit #1007, Atlanta Centre #31 Annapolis St., Brgy. Greenhills, San Juan, Metro Manila and not as published.

If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

A10 Tuesday, April 30, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Honest govt begins with honest elections

T

HE winners and losers are not yet known, but as always, we can expect electoral protests to be filed after the May midterm elections are over. Such is the nature of Philippine politics.

In the past, our courts have been flooded with cases of electoral protests. Some of the cases reached the Supreme Court and often resolved when the tenure of those under protest had almost expired.

Sen. Koko Pimentel, for instance, once admitted it took a miracle for him to be declared the rightful winner in the 2007 senatorial election. It wasn’t the justice system that allowed him to be eventually proclaimed senator in 2011 but Juan Miguel Zubiri’s decision to resign.

Had Zubiri not withdrawn his counter protest, the process of settling who got the 12th slot in the senatorial election of 2007 could have lasted until 2013, the end of the winning senator’s tenure. We’ve seen this kind of delaying tactic employed by various candidates in past elections.

Of course, some critics said Zubiri should have resigned a lot sooner, and he just preempted the inevitable because Pimentel was winning the protest anyway.

But the point is that even if electoral cases require a period of careful study and scrutiny—and rightly so given that the sanctity of the ballot is being questioned—these cases should be resolved with dispatch for the sake of justice and public interest. Justice delayed is justice denied.

The perception of fraud—especially electoral fraud that decides the outcome of an election and results in an illegitimate winner—can be as damaging as the actual fraud itself. Both the losers and winners suffer.

Winners whose victories are questioned would have clouds of doubt hovering over them in office, which can easily erode public trust in the decisions and actions they take and in the performance of their duties.

Also, any perceived impropriety or irregularity they make in office becomes more obvious and objectionable.

The public trust in the government, politics and the electoral system is already low. Unresolved electoral disputes or delayed resolutions of such can only make it even worse. If we want to bring back people’s trust, we need to start with the electoral system.

Our citizens deserve a fair and honest election, or at least the certainty that even if poll irregularities do occur, they would be corrected soonest, and the people who would occupy the contested offices would eventually be the right people.

While we do hope that there will be few instances of poll irregularities this time, we are also counting on the Commission on Elections (Comelec) to take swift action to get to the truth behind reports of irregularities.

Again, no decent elected official can truly govern or lead with the gnawing perception that what props his or her legitimacy is cheating and deft political and legal maneuvering.

People must know that genuine democracy prevailed, that all their votes had been counted properly, and the winners are truly the winners.

Electoral protests are tedious and messy, and they compromise the integrity and results of the elections. The process of resolving them is sorely in need of reform. The Comelec must exercise strong leadership over the election process, from voting to canvassing to counting, to making sure candidates follow the rules, so that there would be minimal protests after the May exercise is over.

Hopefully, voters can go home after casting their votes on May 13 confident that the integrity of their ballots is ensured.

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THE ENTREPRENEUR

O

UR economic managers have predicted that the Philippines is set to join the ranks of upper middle-income economies this year on the back of a sustained economic growth of above 6 percent, after being stuck in the lower middleincome group for decades.

As a Filipino, I am hopeful and positive that this forecast will come true. A higher economic standing will encourage more foreign investors to visit our country and further propel the economy.

No longer the economic laggard in Asia, the Philippines is even touted as the region’s next economic powerhouse.

The World Bank in 2017 categorized countries into four major groups based on gross national income (GNT) per capita: low-income (less than $1,000), lower middleincome ($1,000 to $3,900), upper middle-income ($3,940 to $11,120) and high-income group ($12,570 and higher).

GNI per capita in nominal terms is computed as the total value of goods and services produced within the

country plus foreign asset inflows divided by the population at midyear.

In 2017, the Philippines was listed in the lower middle-income group with a GNI per capita of $3,660, ahead of Indonesia’s $3,540.

The World Bank has yet to compile the 2018 GNI per capita of different nations, but the National Economic and Development Authority believes the figure for the Philippines exceeded the $3,700 mark last year, after the 6.2-percent growth in the gross domestic product and the 5.9-percent expansion of the GNI. Data from the National Income Accounts compiled by the Philippine Statistics Authority show that the GNI of the Philippines reached P20.91 trillion at current prices in 2018, while per-capita income improved to P196,155.

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Unfortunately, the peso depreciated 4.5 percent last year to average 52.6614 per US dollar in 2018 from 50.4037 in 2017, based on the data of the Bangko Sentral ng Pilipinas. Despite the weaker peso, the dollar value of the country’s GNI per capita still improved to around $3,724 last year.

With the projected economic expansion of 6 percent to 7 percent in 2019 coupled with the strengthening of the peso against the greenback, the Philippines is on its way to breaching the $3,900 threshold and joining the ranks of the upper middle-income countries this year.

This is way ahead of the 2022 target originally set by Neda.

Finance Secretary Carlos Dominguez III himself announced before the World Bank the country’s improving financial condition. “This year, as the bank celebrates its 75th year, we are proud to announce that the Philippines will achieve the status of an ‘upper middle-income’ nation ahead of schedule. The bank shares much credit for this achievement,” Dominguez said in a speech in Washington, D.C., which hosts the World Bank.

Dominguez said with the resilience that the country displayed under an inclusive economy that grew 6.2 percent last year despite the uncertainties of a looming trade war, a sharp spike in oil prices and an elevated domestic inflation rate, the

Philippines would likely become an upper middle-income country ahead of the target this year.

Our ultimate goal, of course, is to become a high-income economy, which means our GNI per-capita income should exceed $12,500. The Duterte administration hopes that this will be achieved by 2040. For the meantime, let us cherish our new status as an upper middle-income country.

Dominguez sounds bullish because the Philippines is now one of the fastest-growing economies in the world. “Reaching this milestone in our development story is attributable to many years of hard work, especially in building a strong fiscal position and a bureaucracy honed to the task of catalyzing growth,” he said.

In a separate speech before the United States Chamber of Commerce, Dominguez said now is the “best time” to invest in the Philippines, which is poised to become Asia’s next economic powerhouse.

His speech is actually an invitation for foreign investors to participate in the remarkable growth story of the Philippines. The final credit goes to the Filipino people for their outstanding resilience and hard work that paved the way for our strong economy.

For comments, e-mail mbv.secretariat@gmail. com or visit www.mannyvillar.com.ph.

2019 election; missing the economic reality

Jennifer A. Ng Vittorio V. Vitug

Ruben M. Cruz Jr. Angel R. Calso

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Upper middle-income country at last

John Mangun

OUTSIDE THE BOX

E

LECTIONS bring out the best aspects of a participatory democracy. Regardless of all the problems associated with “free and fair” elections—potential cheating, vote buying and violence—it is still better than all the alternatives that humans have tried in establishing a government.

Political campaigns also bring candidates speaking to the most immoral of all human emotions: greed.

We are all genetically wired to want to “Get you money for nothin’, and the chicks for free.” Only candidates can look people straight in the face and tell them that can happen.

However, intellectual dishonesty is not confined to politics by any means. It is particularly true in discussions involving economics. Some scholars believe that there is a separate rulebook in purgatory just for people who combine “politics” and “economics.”

It is easy to be dishonest when

talking about economic issues.

This is because an economy—like the human body—is highly complex and complicatedly interactive.

Equally true is that the average person has little understanding of how the body works or how an economy functions.

For example, any time anyone speaks of the economic success of Vietnam, particularly in comparison to the Philippines, you will never hear the full story.

They talk about consistent government policies in Vietnam and its government’s harsh laws dealing with public corruption. They

mention that foreign companies invest much more in Vietnam and use that nation’s more liberal investments rules that should be copied.

While it is true that Vietnam does make it easier in some respects for foreigners to invest, what is never mentioned—and never suggested as a change that the Philippines should make—is wages.

The facts are simple. The daily minimum wage in US dollars in Vietnam as of August 30, 2018, is between $4 and $5.75. The Vietnamese currency is fixed, so exchange rates are not a factor. On that same date—with the peso at a low 53.48 to the dollar—the local minimum wage was $4.80 to $9.61 depending on the job and location, 20 percent higher than in Vietnam.

The monthly minimum wage was $120 to $173 in Vietnam and $144 to $288 in the Philippines. But forget about the minimum wage. The average annual wage in Vietnam is $2,160, or 70 percent higher than the Philippines’s $3,660.

Ignore foreign ownership restriction, land ownership and even ease of doing business. If a company can save 20 percent in wages in a particular country, it is almost a no-brainer

decision where to locate.

Using coal for power generation is messy and dirty. So why does any nation use coal to produce electricity? For the same reason whale oil was used in 19th century: cheap and easily available. It was only when crude oil became cheaper and more accessible that whale oil was replaced.

The Philippines generates about 60 percent of its electricity from fossil fuel, including about 40 percent from coal. Therefore, to say that the nation can easily and quickly switch—maybe magically—to “renewables” is dishonest. Actually, at one time the Philippines used 100percent renewable energy—wood.

In about three weeks, harsh economic reality will splash ice water on many of the election-promise ideas.

But do not think that the economic distortions we hear every day will go away. The only way that will ever happen is if…actually, no, it will never happen.

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

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Filipino workers are no slowpokes Manny F. Dooc

TELLTALES Continued from A1

L

IKE most rural Australian towns, natural disasters and economic recessions moved younger generations away from farm work and drove them to seek better opportunities in the cities. With the progressively declining population, local businesses like Kia Ora Piggery, which wanted to expand, found no laborers or professionals to work on their farm.

The piggery owner traveled to Manila 10 years ago to sponsor five Filipino veterinarians to work in his farm. Now the co-owner and manager of the business, Jared Smith, has expressed great appreciation to his Filipino workers. “No one grows up in Australia wanting to work on a pig farm. That’s a completely different mindset to the guys from the Philippines. They enjoy the work.

They appreciate the work.” Today, Kia Ora Piggery is the largest employer in Pyramid Hill with 50 employees, half of whom are from the Philippines. “These are beautiful people.

They get involved in the community.

They’re good, honest people. They’ve got similar or better morals than us, and that’s what made it work,” concluded Smith.

Now, who says that Filipino workers are lazy and slowpokes? nnn

WE should commend Australia for adopting a liberal immigration policy that has drawn immigrants from around the world, mostly from the nearby countries in Asia whose hungry populations are seeking greener pastures and brighter opportunities. Australia is now considered as the new “land of opportunity.” People are taking advantage of Australia’s generous working visa scheme, which allows applicants who work in regional communities to apply for permanent residency after three years. The relatively good pay offered to workers makes

it an attractive destination. Studies conducted by the Regional Australia Institute show that roughly 87 percent of skilled migrant workers from abroad who settle in Australia end up in Sydney or Melbourne, Australia’s two largest cities. The Federal government’s target is to increase the number of those who settle in the regional areas where the need for labor resources is greatest. This will also prevent the population decline in the rural communities.

Australia beckons you. Get ready with your passports. More important, you should now practice standing on your head since you’ll be settling Down Under. nnn

JUXTAPOSE the case of Australia to the Land of Milk and Honey, the US of A. Donald J. Trump made immigration the major issue of his presidential campaign. And true to his campaign promise, his administration has made a major shift in his country’s immigration policy since he was installed in the White House. Among the drastic actions undertaken under President Trump are banning nationals of eight countries, many of them Muslim nations, from entering the United States and reducing refugee admissions to its lowest level since the resettlement program was introduced in the 1980s. But the most unpopular measure is the proposal to fence off the US-Mexican border coupled with the posting of additional thousands

of border patrol agents and immigration officers. Interestingly, putting up a wall at the Mexican border was not an original idea of Trump. You may recall that when the 133-page Republican Platform was formulated during the 1992 Republican National Convention in Houston, Texas, Pat Buchanan and his supporters pushed hard to endorse Buchanan’s strong anti-immigration policy, including the building of a high fence along the Mexican border. But this hardline immigration plank did not gain the support of the majority of the delegates. Under the Clinton, Bush and Obama administrations, this idea did not gain traction until it became the centerpiece of the Trump campaign. Now it has become a top priority of the US government even causing the shutdown of some federal government operations and agencies because of Congress’ failure to pass the legislation seeking to fund the construction of the US-Mexican border wall.

As noted by the famous American poet Robert Frost in the opening line of his popular poem, “Mending Wall.” “Something there is that doesn’t love a wall…” I’m sure the Mexicans don’t and this is shared by many Americans. And then the poet further asked, “Before I built a wall I’d ask to know what I was walling in or walling out…” President Trump should answer that.

It’s difficult to understand why the US has made a sea change in its immigration policy. This is strange since the USA was founded by immigrants. For more than a couple of centuries, people escaping from oppression, discrimination, violence, religious and political persecutions and all forms of prejudices found refuge in the US. Now, people from the third world countries look up to the US as a land of promise—better education, better health care, better opportunities and better quality of life. Look at the cross-section of its population. People of all nationalities doing their share and contributing their talents and assets to promote US economy, power and influence around the globe. No doubt, America is a nation of refugees and a country

The need to understand economics Cecilio T. Arillo

DATABASE

B

ECAUSE economics is a complex science with almost infinite variables, both tangible and intangible, affecting people from all walks of life, there is an urgent need to understand it with an open mind to shun biases, prejudices and fallacies.

What also comes to mind is what Oscar Wilde, the famous Irish writerphilosopher, described as: “...a man who knows the price of everything and the value of nothing.”

For example, the late George Stigler, one of the respected neoclassical or classical economists, and the 1982 Nobel laureate in economics for his research on deregulation and government control policies, called economics an “imperial science.”

Another economist of the neoclassical variety, Francis Fukuyama, author of the best-selling book Trust, may have offended the sensibility of some pragmatic Americans and Filipinos who do not usually side with any doctrinaire political positions on economic issues.

“We can think,” Fukuyama said, “of neoclassical economics as being, say, 80 percent correct: it has uncovered important truths about the nature of money and markets because its fundamental model of rational, self-interested human behavior is correct about 80 percent of the time.”

“But there is a missing 20 percent of human behavior about which neoclassical economics can give only a poor account,” Fukuyama added, obviously referring to some

mercantilists as the missing 20 percent in human behavior.

According to Fukuyama, believers of mercantilism (protectionism) like James Fallows, Chalmers Johnson, Clyde Prestowitz, John Zysman, Karl van Wolfersen, Alice Amsden and Laura Tyson, then-President Clinton’s economic adviser, “have strongly argued that the dynamic and fast-growing economies of East Asia have succeeded not by following but by violating the rules of neoclassical economics.”

The implication of his carefully crafted fallacy and prejudice, disguised as an objective analysis of cultural human behavior in economics, is that both the Mercantilists and the Classicists have the same economic rules, and that the East Asian countries have become dynamic and fastgrowing economies because they had violated these rules.

If we also follow Fukuyama’s 8020 percent ratio on economic human behavior in money and markets in favor of the classicists, the fastgrowing mercantilist countries in East Asia, particularly Japan, South Korea, Taiwan, Hong Kong and Singapore would have remained today the world’s economic laggards and retardates.

By calling economics an imperial science, Stigler may not have realized it that he unnecessarily added another line to the leftist popular slogan “American Imperialism” and, thus, created his own bias against some of the far-right libertarians. Stigler should have known better that history is replete with people from both extremes of the left and the right who have used pompous slogans to advance their ideological cause.

Besides, these classicists and mercantilists, although both capitalists, have different set of economic rules, lifestyles, work ethics, business policies and frame of mind, just to cite a few, in the production, distribution and consumption of their limited resources.

Unlike the classicists, the mercantilists believed in government intervention on the behavior of money, market, inflation and taxes; have pursued a manufacturing and export-oriented economy; have put premium on research and technology; have ignored the free-trade economic policies of the IMF-World Bank; and are highly nationalistic.

By calling economics an imperial science, Stigler may not have realized it that he unnecessarily added another line to the leftist popular slogan “American Imperialism” and, thus, created his own bias against some of the far-right libertarians.

Stigler should have known better that history is replete with people from both extremes of the left and the right who have used pompous slogans to advance their ideological cause.

He was a bit luckier though because the Cold War had already ended

of immigrants who help make it the most powerful nation on Earth. A great US president of another era, President John F. Kennedy, wrote a book, A Nation of Immigrants, hailing the waves of immigrants that landed on its shores as the cornerstones of his country’s history.

President Trump should read this book. nnn

MY good compañero, Atty. Romy Macalintal, the quintessential election lawyer, has won many electoral contests for his clients. Now he faces the toughest election contest of his life.

Can he win his own fight for a Senate seat? He has championed the cause of the elderly and he continues to espouse their interests and welfare.

I’m sure this will pay him dividends.

No candidate in his sound mind can ignore the senior citizens of our country. By year-end 2018, it was estimated that there were 8,013,059 Filipinos over age 60 constituting 8.2 percent of our total population. Practically they are all voters although their voting rate must be lower than the younger age groups.

In 2016, there were 54.36 million registered voters. Of this number, 6.69 million are senior citizens—over 60 years old—constituting roughly 12 percent of the voters. With higher longevity, more Filipinos will join the elderly ranks and their numbers will definitely swell. I hope our senior citizens will remember what Macalintal has done for them. Unfortunately, many of them suffer from memory loss. Macalintal can only pray that our elderly voters will have lucid interval when they are inside the voting booths to cast their votes. In fact, as I write this, I recall having a conversation with my 85-year-old neighbor.

He was animatedly telling me a story when my phone rang. I picked up my phone and declined the call so as not to interrupt his narration. But then he could not recall what he was telling me about. He tried to explain, “I’m sorry I’m getting forgetful. You know there are two signs of aging.

The first is that you tend to forget things rather easily and…and…and for the life of me, I don’t remember the other one now.”

and many people from the radical left may no longer have any use of his jargon.

Prof. Paul A. Samuelson, another brilliant economist and the first American to receive the Nobel Prize in economics in 1970, described economics not an exact science but more of an art.

This writer, while teaching undergraduate and postgraduate economic studies for almost a decade at the International Academy of Management and Economics, mentioned him because his creativity and unbiased approach to the teaching of the discipline in his best-selling book Economics, particularly the 15th International Edition with Prof.

William D. Nordhaus, his coauthor, contrasted Stigler’s and Fukuyama’s line of thinking.

For instance, Samuelson’s and Nordhaus’s excellent work was probably one of the few economic books that used the term market without the word free appended to it as an adjective or a qualifier to denote that the “free-market,” “free-enterprise” and “free-trade” economic concepts are indeed those of the dogmatic Neoclassicists.

As Bill Lowe said in his Education for Life (Phoenix Books,1984): “Freedom is one of the qualities of life that is most valued, but nobody knows better than the money-conscious citizens of free economies that ‘free’ is something of a misnomer; everything has to be paid for, including the freedom. It is usually paid for by an absence of security and by the deprivation of those whose labor creates affluence for others. It is for the insecure majority that the affluence of their society is but an illusion.”

To reach the writer, e-mail cecilio.arillo@ gmail.com.

Tuesday, April 30, 2019 A11

My wife and I are senior citizens many times over but on May 13 we will not forget to motor to my hometown in Bicol just to vote. nnn

DO you know that 53 countries around the world are holding elections this year? This means that close to 2 billion voters will go to the polls to elect their leaders.

Among the countries with the largest voting population conducting their political exercise include the Philippines, Nigeria, Indonesia and India with 63 million, 84 million, 187 million and 800 million registered voters, respectively. Ten countries, including the Philippines, will hold their elections in May. Our Southeast Asian neighbor, Indonesia, had just concluded its polls.

India, touted as the world’s largest democracy, will hold its election in April and May. Countries have different voting age requirements which range from 16, the youngest, and 21, the oldest. Most countries including the Philippines adopt 18 years of age as their voting age qualification. New Zealand is the first country in the world to allow women to exercise their right of suffrage. As early as 1893, Kiwi women have enjoyed equal political rights with men in New Zealand. This early head start may explain why there have already been three female Prime Ministers to head the country, including the current Prime Minister, Jacinda Ardern.

On the other hand, Filipina women were given the right of suffrage only during the Commonwealth period following a special plebiscite held on April 3, 1937. The plebiscite allowing women to vote in our country was approved overwhelmingly by a vote representing almost 91 percent of the voters. A minority opposed the move by citing two main arguments, to wit: it would ruin the Filipino family and diminish the power of the husband or the man of the house. We’ve been warned but we ignored it and look where the husbands are now. Our forebears should have hearkened to the voice of the minority. Now we know why our wives are the Speakers of the House. Levity aside, we are

not far off from New Zealand. We already had two women presidents since 1946. nnn

PRRD has appointed my permanent replacement as the president and CEO of the Social Security System, and vice chairman of the Social Security Commission in the person of Aurora “Baby” Cruz Ignacio on March 28, 2019, although it was only announced on April 1, 2019. It will be recalled that I stepped down voluntarily and irrevocably from my position when the new SSS Charter became effective on March 5, 2019.

Ignacio served as the first female Chairman of SSC late last year where she has shown deep concern for the Filipino workers in the private sector. Republic Act 11199, otherwise known as the “SSS Law of 2018” has empowered the SSC to introduce reforms to truly enable SSS to provide more meaningful benefits to its members and extend universal access to every employee. Under her stewardship and with the total support of the Commission and the SSS Management, I have no doubt that SSS will achieve its goals of strengthening the viability of the SSS fund and providing more protection to its members. Congratulations, PCEO Baby Ignacio. nnn

IT’S a national holiday on Wednesday and golf courses will be again teeming with golfers celebrating Labor Day by laboriously trying to put a ball in a hole. To our passionate golfers out there who will be broiled by the scorching summer heat, let me share this joke that was texted to me by a friend. “A man and his friend decided to play a round of golf together. The man has a little dog with him and on the first green when the man holes out a 20-foot putt, the little dog jumps and stands up on its hind legs. The friend struck by the dog’s clever tricks said: “That’s really amazing. What does it do if you miss the shot?” “He somersaults, ” says the man. His friend says: “Unbelievable. How many does he do?” And the man replies: “Well, that depends on how hard I kick him in the arse.”

What Emmanuel Macron is doing right for France

By The Editors Bloomberg Opinion

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MMANUEL MACRON is trying to be something new in French politics—a president who responds to public concerns without dropping his reforms at the first sign of trouble. Instead he has tried to air public grievances and react without caving into protesters’ demands. For this he deserves credit.

To pull France out of the economic troubles that have created the protests, however, he’s going to need to double down on his reforms.

Macron’s first response to the protests—a €10 billion ($11.2 billion) package of handouts, including a minimum wage hike—failed to end them or to pull his popularity rating out of the low 30s. So he sent public officials out to listen to the people, and did a lot of talking and listening himself. Thousands of conversations were conducted around the country over two months, and there were nearly 2 million online responses.

To demonstrate that his government had paid attention, a humbler president last week announced €5 billion ($5.6 billion) worth of tax cuts, citizen participation in economic decision-making, decentralized public services, and lower barriers to holding referendums. At the same time, Macron rightly refused to restore the punitive wealth tax he had eliminated, or to give the Yellow Vests the citizens’ initiative referendums they’ve demanded.

It’s easy to be dismissive of Macron’s “Great National Debate.” All politicians go on occasional listening tours. But it was highly unusual for such an exercise to be undertaken by a leader not facing an election, and

hard to think of a precedent on the scale of Macron’s exercise.

To be sure, it’s a sign that his situation is desperate. France’s traditional social contract—under which the state has levied high taxes and delivered all-encompassing services and social protection—is broken.

The French government taxes more of gross domestic product than other advanced countries do, and unemployment remains at nearly 9 percent (youth unemployment is especially high); moreover, many French feel that life is getting worse.

To address these problems and meet his goal of full employment, Macron will have to truly transform the French economy. Nearly halfway into his five-year term, he has accomplished some notable changes, especially by removing some rigid controls on the labor market. But the hard part lies ahead.

Macron has a couple of small steps in mind. He’s pledged to scrap the famed Ecole Nationale d’Administration, France’s ultraelite training academy for civil servants (and Macron’s alma mater). But this will do nothing to pare down or decentralize France’s oversized, money-hungry civil service.

Similarly, Macron has promised to reduce classroom size for the youngest students to no more than 24. But this alone won’t reduce inequality in French education.

Macron said he has instructed the government of Prime Minister Edouard Philippe to draw up plans for further reforms. That might buy the president a little time and help him spread accountability. But having listened carefully to the French people, Macron surely must realize that significant action cannot be indefinitely postponed.

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Be ready for mass-casualty incidents–Gordon to govt

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By Butch Fernandez

@butchfBM

HE Duterte administration should start preparing “for mass-casualty incidents” given the recent series of earthquakes that shook Metro Manila and other parts of the country, as well as recent bombings abroad, Sen. Richard Gordon said on Monday.

Gordon, who also chairs the Philippine Red Cross, said he was alerting “the whole country and the government to prepare for masscasualty incidents” because only a swift response to any untoward incident would mitigate the casualty numbers, and such quick response is only possible “if the government and the whole country is prepared.”

The senator, whose mettle in disaster and crisis management was

tested in the aftermath of the 1991 Mount Pinatubo earthquake followed by the pullout of the US military forces from bases in Clark and Subic, made the warning on week after a 6.1-magnitude earthquake struck Luzon, causing the collapse of a supermarket in Pampanga. A day after, an even stronger temblor shook the Visayas. The latest was the 5.5-magnitude earthquake that jolted Surigao del Norte last

“Did you see the Red Cross there [Sri Lanka]?

Yes, they were there.

And we will be in the front line if something like that happens. We are prepared for that, we are continuously preparing.”— Gordon

Friday afternoon.

Gordon noted that the Philippines sits on the Pacific “Ring of Fire” where tectonic plates collide and many of the world’s earthquakes and volcanic eruptions are recorded regularly.

The Luzon quake left 18 people dead and 243 others injured, of which 174 have been validated by the Department of Health.

Gordon said he was “calling on the whole country and the government to prepare for any untoward incidents such as the [Sri Lanka bombings], including mass-casualty incidents [MCIs] caused not only by bombings but by epidemics or earthquakes.” The Sri Lanka inci-

dent he referred to was the simultaneous, orchestrated bombings of Christian churches and luxury hotels that killed more than 250 people.

Meanwhile, Gordon gave assurances that the Philippine Red Cross (PRC) is continuously preparing for the occurrence of masscasualty incidents, and is ready to provide the necessary assistance should an MCI occur.

In a statement, the senator recalled the simultaneous bombings that hit Sri Lanka. “Did you see the Red Cross there? Yes, they were there. And we will be in the front line if something like that happens.

We are prepared for that, we are continuously preparing,” Gordon assured the public.

He disclosed that the PRC staff, as well as volunteers, have been training with the Magen David Adom, Israel’s national emergency medical, disaster, ambulance and blood bank service, aiming to gain “more knowledge from their expertise in responding to disasters and terrorist activities.”

Neda: ₧5B in RCEF for farmers released in Q3

By Rea Cu

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@ReaCuBM

HE P5 billion under the Rice Competitiveness Enhancement Fund (RCEF) as mandated by Republic Act (RA) 11203 or the Rice Liberalization Act will be released in the third quarter of this year, the National Economic and Development Authority (Neda)

said on Monday.

Neda Assistant Secretary Mercedita A. Sombilla said in a news conference at the Bureau of the Treasury (BTr) head office that the Department of Budget and Management (DBM) has committed to provide the Department of Agriculture (DA) P5 billion under the RCEF by the third quarter of 2019 in line with helping rice farmers.

“The rest of the P5 billion [under the RCEF] will come hopefully in the third quarter of this year because that is the DBM commitment, because that is under the law,” Sombilla said. She explained that the budget for the P10-billion RCEF fund under RA 11203 is included under unprogrammed appropriations under the 2019 General Appropriations Act (GAA).

“So once there are government savings—but whether there are savings or not—that P5-billion [RCEF fund] has to come because that is the law. So, it’s really a commitment. For the initial P5 billion, I am talking to the DA and DBM to get already a portion of that to go to the different agencies that will implement the different components when they are already ready.

See “RCEF,” A2

EASTERLIES AFFECTING SOUTHERN LUZON, VISAYAS AND MINDANAO as of 4:00 pm - April 29, 2019

www.businessmirror.com.ph

40% PORK OFFAL TARIFF TO HURT POOR FAMILIES MORE–MEAT IMPORTERS

By Jasper Emmanuel Y. Arcalas @jearcalas

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IKING the tariff on imported pork offal to 40 percent could reduce supply of the raw material, which may hurt poor families as they benefit from lowcost meat products that serve as their protein sources, an industry group has warned.

In a letter to Agriculture Secretary Emmanuel F. Piñol, the Meat Importers and Traders Association (Mita) explained that a lot of poor Filipinos depend on low-cost processed meat products, which utilize imported raw materials such as pork offal.

Mita President Jesus C. Cham met with Piol recently to discuss the current “oversupply” in pork, particularly the reported “overimportation” that led to higher domestic supplies.

At the meeting, Cham pointed out that reducing imports of pork offal, which accounts for the bulk of total pork volume annually, would result in lower supply, hence, possible higher prices.

“Thus I requested the [Department of Agriculture] to look at the socioeconomic classes to determine the consumption patterns,” he said in his letter dated on April 24, a copy of which was obtained by the BusinessMirror.

“Since 80 percent of our population make up Classes CDE [excluding Upper-C], they are main consumers of these items. Hence, a reduction in supply of [pork offal] would hurt the poor who have less purchasing power,” he added.

Bureau of Animal Industry (BAI) data showed that 46.2 percent of the country’s nearly 850,000-metric-ton (MT) total meat imports last year were pork.

Philippine pork imports in 2018 rose by 28.36 percent to

392,129.183 MT from 305,479.806 MT recorded in 2017.

Of the total pork imported last year, about 41.25 percent were offal or around 161,770.857 MT. The figure was 22.65 percent over 131,896.655 MT of pork offal imported in 2017.

Cham also explained that the tariff on pork offal would not revert to 40 percent after the passage of the rice trade liberalization law, contrary to what Piñol had said in recent interviews.

Cham pointed out that the applied rate of 5 to 10 percent on pork offal was made “at the onset of the Uruguay Round and is not linked to the rice waiver concession.” Cham’s position was confirmed by DA’s policy and planning staff.

“We see the adoption of a low applied rate to mean that the policy-makers then recognized that pork offal is not locally produced in sufficient quantity,” he said.

Furthermore, Cham also noted in his letter that the reversion of the 40-percent tariff on mechanically deboned meat (MDM) of chicken would also hurt the poor as prices of processed meat products utilizing the raw material could increase.

“MDM is widely consumed by the lower CDE classes in the form of processed meat and a reversion to 40-percent duty will hurt them severely,” he said.

“Applying [special safeguard duty] on top of that will make it much worse,” he added.

The tariff on imported chicken MDM would revert to 40 percent after the government passed the rice trade liberalization law.

The government reduced the tariff on the commodity to 5 percent as a concession to trade partners in exchange for allowing the country to extend its right to impose quantitative restriction on rice imports few years ago.

BTr awards P13 billion in DOH chief asks Congress T-bills auction to pass resolution allowing continuing appropriations T HE Bureau of the Treasury (BTr) received mixed results in its latest auction for Treasury bills (T-bills) on Monday, awarding a total of P13.010 billion from the P15 billion on offer, as rates for the one-year tenor bucket were higher than secondary market levels.

Deputy Treasurer Erwin D. Sta. Ana told reporters on Monday that the auction committee decided to partially award the 365-day tenor, as rates for the security were higher than the secondary market rate of 6.105 percent.

“We had a good result today. Obviously, full award for the 183- and 93-day, and we cut it for the 365day. You might note that it’s a bit odd because of the extra day because there’s a holiday on Wednesday, so we will settle the bills tomorrow. So that’s why it’s a little bit of an odd tenor,” Sta. Ana said.

The 365-day T-bill was partially awarded P4.01 billion from the P6 billion on offer, with bids for the security amounting to P8.460 billion.

The average annual rate was capped at 6.085 percent, which was higher by 3.3 basis points from the 6.052 percent set in the previous auction.

“The committee just decided to keep the rates at secondary market levels. So we decided that for the one year we have to keep it at the current market levels,” he added.

Sta. Ana pointed out that the additional one day which can be seen in the number of days for each tenor bucket is in line with the Labor Day holiday on May 1, 2019.

See “BTr,” A2

By Jovee Marie N. dela Cruz

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@joveemarie

HE secretary of the Department of Health (DOH) on Monday said the agency has asked Congress to pass a resolution allowing it to use a continuing appropriations in proposing a budget.

During the oversight meeting of the House Committee on Health, DOH Secretary Francisco T. Duque III said authorization from Congress is needed for the DOH to finish the construction of government hospitals and other health infrastructure projects, and exempt them from the implementation of the cash-based budgeting system.

“We requested a resolution from both houses of Congress to authorize us to use continuing appropriations for priority projects, [including the Health Facilities Enhancement Program (HFEP)],” Duque said.

“We must do these [projects] in phases, and prioritization must be put in place,” he added.

The government has allotted P15 billion for HFEP in the 2019 national budget. Of the P15 billion, the House proposes P4.5 billion worth of health facility projects; the Senate, P2 billion; and the Department of Health (DOH) Central Office P8.5 billion.

According to Duque, the DOH

has already asked the Department of Public Works and Highways, and a third party to assess how much time is needed to complete a Level 3 hospital.

“We will not be able to do it [construction of hospitals] in one year...several hospitals are still at 40 percent [completion] while the others are still at 20 percent. Paano natin ipagpipilitan yang [how can we insist on that] cash-based budgeting?” Duque added.

“Like the Dr. Fabella Maternity Hospital in Manila, they’ve been constructing it since 2014 but still [there is] more or less 7 percent left and we cannot pay them under a COA rule,” he added.

The 2019 national budget is cash-based as opposed to traditional, multiyear obligationbased budgeting, the Department of Budget and Management (DBM) said.

The DBM has described the new system as the more efficient budgeting method since it limits incurring obligations and disbursing payments for goods delivered and services rendered, inspected and accepted within the fiscal year.

The traditional obligation-based budgeting, meanwhile, is common budgetary practice in the Philippines. It allows appropriations and obligations until the next fiscal year, extending the validity of funds to two years.

Editor: Efleda P. Campos

Companies BusinessMirror

Tuesday, April 30, 2019

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Meralco net income in first quarter up 7% to ₧5.67 billion

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By Lenie Lectura

@llectura

HE Manila Electric Co. (Meralco) posted a 7-percent increase in net income for the first three months of the year to P5.67 billion, from P5.31 billion in the same period last year.

in the first quarter; commercial was up 2.2 percent; and residential hardly grew at 0.4 percent, which sort of depressed our first-quarter sales,” Meralco President Oscar Reyes said.

The company said the lower-thanexpected sales growth during the first quarter, particularly in the residential and commercial sectors, were attributable to concerns on higher interest rates, the weakening of the peso against the US dollar, and their impact on fuel and commodity prices, exacerbated by the recent red and yellow alerts caused by the coincident forced outages of several plants.

Meralco sales growth in April, when most yellow and red alerts occurred, is a “precursor” of how demand for power will behave for the second quarter.

“I hate to say it, but second-quarter volume numbers would be good,” Meralco Chairman Manuel Pangilinan said.

The company is expected to register a

sales growth of 6 percent in April.

“April seems to be stronger. It’s very warm temperature so we see a bump in residential sales in April,” Meralco Senior Vice President Alfredo Panlilio said.

Meralco’s customer base grew by over 4 percent to 6.7 million customer accounts, with 285,000 net new accounts since March 2018. The residential customer base, which rose by close to 5 percent, remains at 92 percent of the total customer base. This includes 102,656 prepaid electricity customers, up from 93,522 as of end-March.

Commercial, which represents 8 percent of the total customer count, and industrial, which accounts for less than 1 percent of the total, customer accounts increased by 3 percent and 2 percent, respectively, the same rates of increase in the comparative period in 2018.

Company costs and expenses during the period grew by 7 percent to P68.52 billion.

Core profit at end-March this year stood at P5.6 billion, 14 percent higher than in the same period last year. Revenues were up by 7 percent to P73.63 billion at endMarch this year.

While Meralco’s customer base continues to grow, electricity sales volume grew by only 2 percent to 10,381 gigawatt hours (GWh) at end-March. In the same period last year, electricity sales volume grew by

8.9 percent over 2017.

This is mainly attributable to the “high base effect” of the volume attained in 2018 and the slightly cooler average temperature throughout the quarter.

“There was a mild growth in sales against a very high base in 2018. We are still fortunate to have very favorable financial results. Strong sales in the industrial class of market grew by 4.4 percent

IDC recognizes Infor for leading mobile functionality, Cloud capabilities

Grab updates transport policy to reduce unreasonable cancellations

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USINESS cloud software provider Infor has been cited as a leader in the recent IDC MarketScape: Worldwide SaaS and Cloud-Enabled Asset-Intensive EAM Applications 2019 Vendor Assessment report.

“Infor is a market leader committed to investing in industry-specific applications of enterprise asset management that can help industries, such as health care, oil and gas, public sector, and more, help extend asset life and help increase efficiency across operations,” said Kevin Price, EAM technical product evangelist of Infor.

He said the company recognizes that EAM is a very significant aspect of providing better levels of service to vendors, partners and customers.

With this in mind, Infor CloudSuite EAM is designed to be scalable and dynamic as it is built on a platform with high uptime and is able to handle elastic demand.

In addition, the modern architecture of Infor CloudSuite EAM can scale to add computing power.

This solution is also backed up on mobile devices, operating systems, and screen sizes to assist with on-the-fly fieldwork and informed, efficient decision-making.

“Infor CloudSuite EAM is offered in a multitenant [Software as a Service or SaaS] deployment, which allows Infor to provide a continuous delivery model. This delivery model keeps all SaaS customers on the latest release of the application, which enhances both security and overall customer experience,” noted the report released last month.

IDC MarketScape assessed vendors in accordance to their comprehensive and rigorous framework relative to the criteria and one another, and key strategy criteria that included innovation, delivery, functionality or offering strategy, growth, cloud strategy and architecture strategy.

Likewise, they were evaluated on key capabilities criteria, such as functionality or offering, range of services, customer satisfaction, architecture, cloud capabilities and customer service.

Multinational Infor offers various applications that span across financials, manufacturing, supply chain, human resources, customer relationships, health care, retail and the public sector.

Through its 17,300 employees, the firm serves more than 68,000 customers in over 170 countries.

In the Philippines alone, it has over 300 customers in various industries, such as food and beverage, fashion, logistics, and manufacturing and distribution.

For fiscal year 2018, Infor posted more than $3 billion in revenue. At the latest, 70 percent of its software license revenue is derived from cloud applications. Roderick L. Abad

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RAB, Southeast Asia’s leading everyday super app, on Monday announced its updated ride policy that aims to reduce unreasonable cancellations for both drivers and passengers.

In a statement, Grab said it is mindful that cancellations are frustrating for everyone—whether for a passenger whose time was wasted, or for a driver who spent fuel and effort to get to the pick-up point.

As part of its “Better Everyday” commitment, Grab continues to intensify its efforts to further reduce cancellations by promoting responsible use of its services, specifically unreasonable cancellation behavior, Grab Philippines President Brian Cu said in a statement.

For drivers, unreasonable cancellation behavior includes forcing passengers to cancel the booking without proper reason, and being selective of passenger destination.

For passengers, unreasonable cancellation behavior includes excessive cancellations—two times per hour, three instances a day, and or a total of five cancels per week.

Passenger cancellations after five minutes upon booking confirmation and no-shows are also major concerns from drivers.

To eliminate excessive cancellations that affect the ride-sharing experience for both drivers and passengers, Grab has put in place a number of initiatives and policies to discourage cancellations on both sides.

Drivers are penalized if they go below the required completion rate. Completion rate is computed based on completed bookings, cancellation rates and ignored jobs. Completion rate also heavily affects incentives.

If a driver excessively ignores or cancels booking requests, they are locked out of the platform for a temporary period of time.

Drivers with passenger complaints and low star ratings are also flagged. Grab gives out warnings, and suspends or eventually bans drivers over repeat offenses.

For drivers who go above and beyond, a new tipping feature allowing passengers to reward the drivers with five-star rating has been rolled out.

When a driver cancels on a ride, the passenger automatically gets 30 GrabRewards points, which they can use to redeem items or vouchers in the GrabRewards catalog.

After excessive cancellations, the passenger’s account will temporarily be suspended for 24 hours. Also, a P50 fee will apply to passengers who cancel the ride after five minutes of getting assigned a driver.

A P50 fee will apply if a passenger doesn’t show up at the pick-up point within five minutes for GrabCar and three minutes for GrabShare upon the driver’s arrival.

The cancellation fee incurred in the above situations will go directly to the driver, to compensate them for fuel and effort they have already spent traveling

to the passenger.

“Grab is mindful that cancellations are frustrating for both the passengers and our drivers. At the same time, we are cognizant of the fact that sometimes, cancellations are necessary during special situations.

Our intention in implementing this new policy is to create a better ride-hailing ecosystem, where both passengers and drivers practice the responsible use of the Grab platform,” Cu said.

At the same time, to protect passengers, Grab has put in place a robust system so that fees are not charged in some situations. For instance, the passenger is not charged a fee if they cancel within five minutes of getting assigned a driver. No fee is charged if the driver isn’t moving toward the pick-up point (or going the wrong direction).

No fee if the driver takes 15 minutes longer than the first estimated time of arrival.

(For example, if the passenger gets a driver who is three minutes away, but he or she has waited more than 18 minutes for the driver to arrive, the cancellation is free.

There is also no fee if the driver indicates that he has arrived when he or she has not.

In addition, Grab promises to refund any fees charged wrongly within 48 hours, when reported via their in-app Help Center.

Grab has notified the Land Transportation Franchising and Regulatory Board about its new cancellation policy.

CEREMONIAL POWER UP Signaling the start of operation of the Asian Terminal Inc. (ATI) Batangas Container Terminal Berth 2, company executives and government officials gather for the ceremonial power up of the facility on Sunday night. Present are (from left): Transportation Secretary Arthur P. Tugade, Finance Secretary Carlos G. Dominguez III, DP World Chairman Sultan Ahmed bin Sulayem and ATI President Eusebio Tanco. NONIE REYES

DOE: Ruling on Malampaya, COA to entice investors to explore PHL oil

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HE favorable arbitration ruling on the $1.1-billion tax case between the Malampaya consortium and the Commission on Audit (COA) would entice investors to pursue exploration activities in the country.

“The Department of Energy welcomes this latest development in the International Chamber of Commerce [ICC] arbitration case. We have always upheld the position that the tax regime for petroleum service contracts is legal and valid. This victory would go a long way in giving exploration and development activities in the country a much needed and long overdue boost as investors will now have renewed confidence in our upstream gas industry,” Energy Secretary Alfonso G. Cusi said in a text message on Monday.

The DOE has been urging investors to “explore, explore, explore” to help the country build its power supply. He said last year, the country was grossly trailing behind its neighbors in terms of petroleum exploration and development activities.

“It is high time we step up. We need to attain energy security and sustainability to minimize our vulnerability to global oil price shocks,” Cusi said during the launch of a new round of energy-contracting exploration program.

The ICC decided in favor of the Malampaya consortium, with a unanimous vote of 3-0. The ICC is a global organization that provides services to resolve disputes in international business, with headquarters in Paris, France. Service Contract 38, which governs the Malampaya project, provides for dispute resolution under the arbitration rules of the ICC.

Shakey’s creates unit for restaurant acquisition, management

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HE Securities and Exchange Commission has approved the creation of a unit of Shakey’s Pizza Asia Ventures Inc., which will take in new restaurant ventures and manage existing ones.

In its disclosure, Shakey’s, a company led by the Po family and owns the American pizze brand in the Philippines and in parts of the region, said the regulator approved the creation of WOW Brand Holdings Inc. “The company’s primary business is to establish, maintain, manage, lease, purchase, acquire, hold and dispose of by sale, lease, or otherwise, in the Philippines or in any foreign territory, restaurants, food parlors, and other food retail outlets,” it said.

The new company will have a capitalization of P500 million divided into 500 million common shares.

Shakey’s has started acquiring restaurants in the country, the first of which was Peri-Peri Charcoal Chicken, an emerging casual and full-service restaurant brand in the country.

Under the asset purchase agreement, the company will purchase assets and intellectual property relating to the Peri business, including its brand, trade name, and the various proprietary recipes used by the chain to make its trademark peri-peri chicken. VG Cabuag

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Companies BusinessMirror

Tuesday, April 30, 2019

PSE STOCK QUOTATIONS

April 29, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

58 133.4 83.6 26.5 11.58 75.95 12.5 21.4 52.25 58.15 25.6 179.6 60.55 1.28 18.9 4.8 1.38 0.485 780 0.91 177 1815

58.6 133.8 83.7 26.7 11.6 76 13.5 21.5 52.4 58.9 25.65 180 60.95 1.3 18.94 4.84 1.42 0.49 820 0.94 178.7 1825

58 133.8 83.9 26.8 11.6 75.75 13.5 21.5 52 58.95 25.9 180.9 61 1.3 18.94 4.62 1.42 0.495 785 0.96 181 1830

58.6 134.1 83.9 26.8 11.66 76.85 13.5 21.5 52.8 58.95 25.9 180.9 61 1.3 18.94 4.9 1.42 0.51 800 0.97 181 1830

58 133 83.6 26.5 11.58 75.5 13.5 21.5 51.85 58 25.6 179.1 60.5 1.28 18.92 4.6 1.38 0.475 780 0.91 181 1815

58.6 133.8 83.7 26.5 11.6 76 13.5 21.5 52.4 58 25.6 180 60.55 1.3 18.94 4.84 1.38 0.49 800 0.91 181 1815

9180 805020 2728110 231800 247000 2790080 500 100 44370 310 65200 96640 670 17000 3400 428000 5000 2848000 830 1275000 160 200

535458 107507134 228444966 6149110 2867806 211923256 6750 2150 2316419.5 18257.5 1671790 17394105 40684.5 22000 64390 2058450 6940 1390525 661650 1206400 28960 364650

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.39 37.35 0.236 21.5 79 383 22.6 6.4 4.4 1.57 11.9 45.2 6.91 15.58 14.62 15.36 5.98 10.78 7.39 113.7 0.85 28.6 304 50 10.06 14.92 0.194 1.23 12.9 1.63 4.75 2.01 0.128 145.5 1.44 2.5 66.5 2.07 5.4 15.98 9.31 11.72 22.45 9.04 0.96 1.18 108 1.95 1.56 3.83 3.41 5.05 45 2.59 11.22 1.74 5.97 1.25 27.1

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME ORION PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.61 16.86 899.5 55.35 15.1 6.52 0.75 1.37 1.38 7.47 11.74 14.9 0.265 864.5 6.22 64.1 0.5 5.08 15.9 0.56 4.52 0.038 2.84 1.11 1.34 430 932.5 173 0.88 268.2 0.24 0.325

1.44 37.5 0.245 21.6 79.6 383.2 22.85 6.41 4.5 1.58 12.08 45.3 6.95 15.6 16.28 15.38 5.99 10.88 7.42 114.4 0.87 28.8 304.8 52.5 10.46 15 0.202 1.24 12.98 1.7 4.8 2.12 0.13 145.7 1.45 2.66 70.4 2.08 5.85 16 9.38 11.76 22.5 9.1 0.98 1.2 110 1.98 1.69 3.9 3.55 5.22 45.5 2.6 11.24 1.75 6.1 1.29 27.5

1.38 37.4 0.245 21.7 78.3 384 22.5 6.22 4.47 1.42 11.82 45.55 6.9 16.08 16.3 15.5 5.99 10.76 7.39 114.9 0.87 28.55 303.4 52.5 10.08 15.02 0.194 1.24 12.7 1.65 4.85 2.11 0.128 142.3 1.38 2.5 68.35 2 5.85 15.9 9.4 11.44 22.05 9.1 0.96 1.2 110 1.99 1.69 3.84 3.6 5.1 45 2.43 12.46 1.77 6.04 1.25 28

1.44 37.7 0.245 21.7 79.1 384 22.85 6.43 4.5 1.57 12.08 45.6 7.08 16.2 16.3 15.5 5.99 10.94 7.42 114.9 0.87 28.65 304.8 52.5 10.54 15.14 0.2 1.25 12.92 1.71 4.85 2.12 0.128 145.6 1.44 2.52 68.35 2.1 5.85 16 9.42 11.78 22.5 9.1 1 1.21 110 1.99 1.69 3.88 3.6 5.25 45 2.66 12.56 1.77 6.04 1.29 28.7

1.38 37.1 0.244 21.5 78.3 380.6 22.5 6.12 4.42 1.42 11.82 45 6.8 15.6 16.3 15.34 5.8 10.76 7.38 113 0.85 28.55 302.8 52.5 10.08 14.9 0.194 1.22 12.7 1.65 4.8 2.11 0.128 142.3 1.37 2.5 66 2 5.85 15.8 9.15 11.24 22.05 9.1 0.96 1.17 110 1.95 1.69 3.83 3.41 5 45 2.33 10.84 1.75 6.02 1.24 27.1

1.44 37.5 0.245 21.5 79 383 22.6 6.41 4.5 1.57 12.08 45.2 6.95 15.6 16.3 15.38 5.98 10.88 7.4 114.4 0.86 28.6 304 52.5 10.08 15 0.2 1.25 12.9 1.71 4.8 2.12 0.128 145.5 1.44 2.5 68.3 2.07 5.85 15.98 9.38 11.72 22.5 9.1 0.96 1.2 110 1.95 1.69 3.83 3.55 5.05 45 2.6 11.22 1.75 6.02 1.29 27.5

41000 1011500 510000 645100 246300 100960 1414400 3898200 32000 30609000 212200 88500 64600 587200 1000 1123600 7400 1941200 1120900 50980 1256000 4500 284530 10 9300 381900 140000 1500000 280100 13000 146000 112000 470000 1277220 5916000 521000 1100 38348000 200 498600 90200 3185100 720600 200 619000 1448000 310 69000 6000 116000 3000 44200 150300 14020000 5152100 70000 27900 69000 116400

56920 37900685 124650 13893810 19450305 38621120 32009970 24433269 143410 46580300 2550194 3996685 446672 9331402 16300 17255354 43927 21036960 8286737 5817083 1083680 128740 86318928 525 94008 5747636 27760 1863310 3610880 21510 702990 237420 60160 185697633 8391300 1304500 73835 79056270 1170 7968250 835900 37226368 16133930 1820 598030 1711370 34100 135010 10140 445180 10560 223253 6763500 35071240 58461196 122860 168208 86280 3236555

HOLDING & FRIMS 0.62 16.9 900 56.8 15.18 6.69 0.77 1.38 1.4 7.5 11.8 14.98 0.27 865 6.69 65.45 0.52 5.09 16 0.57 4.57 0.04 2.85 1.14 1.36 470 935 173.4 0.9 270 0.245 0.33

0.6 18.2 895 54.8 14.98 6.65 0.76 1.37 1.39 7.59 11.38 14.7 0.245 865 6.74 64.5 0.53 5.09 16 0.57 4.57 0.038 2.84 1.11 1.36 430 929 174.2 0.92 265 0.243 0.33

0.62 18.46 905 56.8 15.18 6.65 0.78 1.38 1.4 7.59 11.8 15.18 0.28 890 6.74 65.45 0.65 5.22 16 0.57 4.57 0.039 2.92 1.12 1.36 430 939 174.2 0.92 270 0.245 0.34

0.6 16.9 893 54.05 14.8 6.5 0.75 1.36 1.39 7.4 11.38 14.7 0.245 860 6.74 63.35 0.52 5.07 15.72 0.57 4.5 0.038 2.82 1.11 1.36 430 920 171.9 0.86 264 0.237 0.325

0.62 16.9 900 56.8 15.18 6.5 0.75 1.38 1.4 7.5 11.8 15 0.275 865 6.74 65.45 0.52 5.09 16 0.57 4.57 0.038 2.84 1.12 1.36 430 935 173 0.88 270 0.245 0.325

10251000 53600 233520 956380 4348300 14300 341000 1049000 182000 292100 2431100 272700 4040000 430970 400 1103500 190000 582000 876600 201000 27132000 7500000 997000 8000 2000 20 165280 435070 3784000 5550 1070000 6140000

6303580 930362 209442635 53029505 65351290 93700 259050 1441750 253000 2186082 28239060 4074078 1073190 373511265 2696 71421106.5 102400 2962657 13993300 114570 122906750 290200 2854700 8900 2720 8600 154083770 75428746 3303320 1484784 259360 2008200

226300 34785074 6996535 -4394645 -96204 -21940888.5 1155258 -905360 7939609 -19981 51132 -233210 10348740 122200 -2172445 -16892092 -2686068 -4136145 -2669791 145300 -211258 -2058225 1360 -555094 -1324334 -9261050 -100575 2076518 -43790324 447408 477380 -38160.0002 -58309489 13700 1052500 -22414450 -936000 13980 526536 8172715 -5950 -36650 -187718 -76500 1468970 24088798 -713425 -59240 8510 -33248880 -35238854.5 -21096278 190429.9999 -739529 -7070300 1010526 -42517385 13076496.5 -42634 -1162994 3037259.9999 -0 -4300 -63219965 -1951669 132000 -202040 -

PROPERTY

ARTHALAND CORP 0.78 0.79 0.79 0.8 0.77 0.79 288000 226360 ANCHOR LAND 10.1 11.16 11.18 11.18 10.5 11.16 800 8736 AYALA LAND 48.5 48.55 48.15 48.8 48 48.5 23440400 1137059000 159047685 ARANETA PROP 1.95 1.99 1.95 1.95 1.95 1.95 30000 58500 -58500 BELLE CORP 2.42 2.43 2.42 2.43 2.41 2.43 132000 319340 -29000 A BROWN 0.75 0.76 0.78 0.78 0.75 0.76 252000 191310 CITYLAND DEVT 0.89 0.91 0.91 0.91 0.91 0.91 15000 13650 CROWN EQUITIES 0.235 0.239 0.237 0.237 0.235 0.236 10010000 2354950 CEBU HLDG 6.36 6.4 6.4 6.4 6.36 6.36 1600 10200 CEB LANDMASTERS 4.38 4.4 4.33 4.4 4.3 4.38 952000 4149440 870190 CENTURY PROP 0.5 0.51 0.5 0.51 0.5 0.5 8361000 4181550 20400 CYBER BAY 0.385 0.4 0.39 0.39 0.39 0.39 390000 152100 DOUBLEDRAGON 25.7 25.75 25.3 25.7 25.1 25.7 459600 11717490 2609320 DM WENCESLAO 11.1 11.12 11.08 11.1 10.8 11.1 295400 3263178 218799.9999 EMPIRE EAST 0.485 0.49 0.49 0.49 0.485 0.485 940000 456900 EVER GOTESCO 0.125 0.128 0.128 0.128 0.128 0.128 10000 1280 FILINVEST LAND 1.52 1.53 1.52 1.55 1.51 1.52 29694000 45517400 -22229280 GLOBAL ESTATE 1.34 1.35 1.32 1.35 1.32 1.34 1802000 2414950 60300 8990 HLDG 14.3 14.32 14.74 14.76 14.24 14.3 559900 8101006 908476 PHIL INFRADEV 1.72 1.73 1.75 1.75 1.66 1.73 2296000 3922240 -17000 CITY AND LAND 0.8 0.83 0.83 0.83 0.8 0.8 141000 113900 -14550 MEGAWORLD 5.55 5.73 5.5 5.73 5.5 5.73 13719100 76904267 -6090231 MRC ALLIED 0.335 0.34 0.34 0.34 0.33 0.34 7880000 2629700 -0 PHIL ESTATES 0.485 0.495 0.495 0.495 0.475 0.485 650000 315990 PRIMEX CORP 2.43 2.48 2.48 2.48 2.42 2.48 219000 536300 -127460 ROBINSONS LAND 24.35 24.6 24.3 24.6 23.85 24.6 617500 15138005 4188780 PHIL REALTY 0.425 0.445 0.45 0.45 0.42 0.445 1000000 433900 ROCKWELL 1.98 2 2.01 2.01 1.98 1.98 34000 67740 SHANG PROP 3 3.01 3.04 3.04 3.04 3.04 39000 118560 STA LUCIA LAND 1.8 1.81 1.8 1.82 1.76 1.8 1400000 2520100 SM PRIME HLDG 40.5 40.65 41 41 40.5 40.5 4584100 186141095 38941295 STARMALLS 6.9 6.91 6.94 7.05 6.9 6.9 200100 1390831 VISTA LAND 7.39 7.4 7.35 7.45 7.35 7.4 3874100 28737737 4460734

SERVICES ABS CBN 18.9 18.94 19 19 18.9 18.94 68400 1295366 GMA NETWORK 5.17 5.18 5.18 5.18 5.14 5.18 102800 531378 MANILA BULLETIN 0.55 0.56 0.58 0.58 0.55 0.55 3531000 1964490 GLOBE TELECOM 1790 1800 1771 1840 1771 1800 40465 72560415 14347765 PLDT 1208 1210 1208 1212 1190 1208 189760 227800485 10337285 APOLLO GLOBAL 0.04 0.041 0.039 0.041 0.039 0.041 2900000 114600 IMPERIAL 1.83 1.91 1.82 1.82 1.82 1.82 5000 9100 ISLAND INFO 0.126 0.129 0.126 0.129 0.126 0.129 160000 20190 ISM COMM 5.77 5.79 6 6.34 5.62 5.77 27043700 157687356 -824139 NOW CORP 2.28 2.29 2.33 2.33 2.22 2.29 3344000 7594540 -29889.9999 TRANSPACIFIC BR 0.355 0.36 0.36 0.37 0.355 0.36 3740000 1346450 25200 PHILWEB 3.11 3.12 3.2 3.3 3.12 3.12 3226000 10328190 -550070 2GO GROUP 12.64 12.9 13 13 12.64 12.64 17600 223936 CHELSEA 5.89 5.9 5.75 6.29 5.75 5.89 5586400 33045487 -1617088 CEBU AIR 81.85 82 81.6 82 81.4 81.85 51770 4231731 -514303 INTL CONTAINER 124.7 125.6 125.2 125.6 124 125.6 759800 95231902 24168951 LBC EXPRESS 15.16 15.68 15.16 15.68 15.16 15.68 5100 77368 LORENZO SHIPPNG 0.81 0.83 0.86 0.86 0.81 0.83 794000 649220 MACROASIA 21.75 21.8 21.55 21.8 21.4 21.8 573100 12389010 5297265 METROALLIANCE A 1.7 1.8 1.69 1.84 1.69 1.83 31000 52900 PAL HLDG 10.1 10.2 10.02 10.2 9.8 10.1 25900 258248 HARBOR STAR 2.78 2.79 2.79 2.8 2.77 2.79 648000 1808130 BOULEVARD HLDG 0.068 0.069 0.069 0.07 0.068 0.068 17110000 1176510 DISCOVERY WORLD 2.05 2.18 2.19 2.19 2.19 2.19 1000 2190 WATERFRONT 0.68 0.69 0.67 0.69 0.66 0.69 1204000 817460 -0 CENTRO ESCOLAR 7.01 7.96 7.01 7.01 7.01 7.01 300 2103 IPEOPLE 11.22 11.96 11.5 12.18 11.5 11.5 96000 1129002 STI HLDG 0.66 0.67 0.68 0.68 0.66 0.66 2668000 1789480 378520 BERJAYA 2.47 2.48 2.47 2.5 2.32 2.47 278000 670660 -26310 BLOOMBERRY 12.9 12.92 13 13 12.86 12.9 2558000 33100804 3638858 PACIFIC ONLINE 3.92 4.02 4.3 4.3 3.91 4.02 436000 1735150 11890 LEISURE AND RES 3.72 3.73 3.71 3.76 3.66 3.72 477000 1766400 -85230 MANILA JOCKEY 4.78 4.8 4.79 4.8 4.78 4.78 17000 81490 PH RESORTS GRP 4.29 4.3 4.38 4.38 4.3 4.3 31000 134470 PREMIUM LEISURE 0.73 0.74 0.75 0.76 0.73 0.74 1972000 1461370 -9640 PHIL RACING 7.16 8.2 8.2 8.2 8.2 8.2 100 820 TRAVELLERS 5.62 5.64 5.61 5.63 5.61 5.62 73600 413758 -110829 METRO RETAIL 3.41 3.42 3.43 3.45 3.4 3.42 722000 2468970 860670 PUREGOLD 42.95 43 43.7 44 42.75 43 2078200 89615245 -50609825 ROBINSONS RTL 76.6 77 78.3 78.3 76.6 77 294500 22704308.5 -18011337 PHIL SEVEN CORP 116 117 117 117 117 117 1240 145080 129870 SSI GROUP 3 3.01 2.81 3.04 2.8 3 58383000 171405520 22628390 WILCON DEPOT 16.64 16.7 16.6 16.76 16.5 16.7 2475100 41318624 5574764 APC GROUP 0.415 0.42 0.415 0.42 0.415 0.415 400000 166100 EASYCALL 11.72 11.8 12.54 12.54 11.7 11.8 243100 2911848 GOLDEN BRIA 405 416.4 418.2 418.2 402 405 5070 2058162 IPM HLDG 6.96 7 6.99 6.99 6.97 6.97 13000 90670 PAXYS 3.1 3.24 3.1 3.24 3.1 3.24 255000 825500 -15500 PRMIERE HORIZON 0.91 0.92 0.92 0.95 0.91 0.92 25470000 23493100 -1694640 SBS PHIL CORP 8.8 9.01 9.04 9.04 9 9.03 4300 38836

MINING & OIL ATOK 11.52 12.2 12.5 12.5 12.5 12.5 200 2500 APEX MINING 1.32 1.33 1.33 1.33 1.29 1.33 1242000 1625120 27510 ABRA MINING 0.0019 0.002 0.0019 0.002 0.0018 0.0019 336000000 638400 BENGUET A 1.28 1.4 1.48 1.49 1.27 1.28 205000 261940 COAL ASIA HLDG 0.29 0.295 0.29 0.29 0.29 0.29 300000 87000 CENTURY PEAK 2.69 2.7 2.68 2.69 2.67 2.69 416000 1112480 DIZON MINES 7.99 8.05 7.99 8.05 7.99 8.05 600 4818 FERRONICKEL 1.49 1.52 1.52 1.52 1.48 1.52 13326000 20011110 GEOGRACE 0.25 0.255 0.26 0.26 0.248 0.255 770000 193800 LEPANTO A 0.111 0.112 0.112 0.115 0.11 0.112 1910000 213880 LEPANTO B 0.112 0.121 0.113 0.113 0.113 0.113 70000 7910 MANILA MINING A 0.0081 0.0082 0.0083 0.0087 0.0082 0.0082 35000000 290300 MANILA MINING B 0.008 0.0082 0.0083 0.0083 0.0079 0.008 100000000 798600 MARCVENTURES 1.08 1.09 1.08 1.09 1.07 1.08 78000 83810 NIHAO 0.99 1.01 1.02 1.02 1.01 1.01 2000 2030 NICKEL ASIA 2.44 2.45 2.44 2.45 2.38 2.44 768000 1855150 188580 OMICO CORP 0.56 0.61 0.58 0.61 0.55 0.56 1052000 594530 ORNTL PENINSULA 0.89 0.92 0.9 0.92 0.89 0.92 344000 309350 PX MINING 3.08 3.14 3.17 3.17 3.07 3.09 422000 1305810 -93600 SEMIRARA MINING 23.5 23.6 23.55 23.95 23.35 23.6 2832900 66726090 43287735 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 8200000 98400 ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 30500000 366000 126000 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 2000000 22000 PHINMA PETRO 3.11 3.17 3.11 3.11 3.11 3.11 1000 3110 PXP ENERGY 8.69 8.74 8.86 9 8.58 8.69 1971400 17122991 622742

PREFFERED

AC PREF B1 467 475 475 475 467 467 2010 938850 AC PREF B2 481 497 497 497.2 497 497 5780 2872764 SMC FB PREF 2 969 975 975 975 970 975 13210 12879200 LR PREF 0.96 1 1.01 1.01 0.98 1 1051000 1031620 3000 MWIDE PREF 100 102.9 100.5 100.5 100 100 8000 800361 PCOR PREF 2A 971 998.5 998.5 998.5 970 970 70 68495 19970 SFI PREF 1.45 1.75 1.45 1.45 1.45 1.45 1000 1450 SMC PREF 2B 75 75.1 75.1 75.1 75.1 75.1 730 54823 SMC PREF 2C 75.65 76.9 76.9 76.9 75.6 76.9 47090 3566495.5 1743765 SMC PREF 2E 72.5 73 73 73 73 73 3500 255500 SMC PREF 2F 74.65 74.75 73.75 74.65 73.75 74.65 11800 878896 SMC PREF 2H 72.75 73.65 72.75 72.75 72.75 72.75 1000 72750 SMC PREF 2I 72.25 73.5 73.4 73.5 73.4 73.5 25530 1876177 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.2 4.96

18.5 5.1

- -

- -

- -

- -

- -

- -

WARRANTS LR WARRANT

1.86

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.28 XURPAS 1.15

1.92

1.9

1.95

1.86

1.92

203000

381180

-

5.29 1.16

5.15 1.17

5.28 1.17

5.04 1.13

5.28 1.15

671200 2796000

3471159 3207200

322542 -39100

EXHANGE TRADE FUNDS FIRST METRO ETF

117.5

-

117.9

117.7

117.9

117

117.9

7630

897076

-

www.businessmirror.com.ph

IMI income nosedives 94% in Q1 on US-China trade war fallout

A

By VG Cabuag

@villygc

YALA-LED Integrated MicroElectronics Inc. (IMI) on Monday said its income for the first quarter of the year plunged 94 percent to just $335,000 (about P16.7 million) from the previous year’s $5.57 million as its margins were constrained due to the fallout from the US-China trade war.

Consolidated revenues were flat at $323.04 million from last year’s $325.79 million, the company said in its disclosure to the Philippine Stock Exchange.

“Margins remain constrained

by global market slowdown due to the fallout from the trade wars, political uncertainty in the UK and the ongoing electronic component shortage,” it said, adding margins were at 9 percent for the period

from 10.6 percent last year.

IMI, however, said it continues to grow its target business segments in automotive, industrial and aerospace which comprise 77 percent of total revenues for the quarter.

Automotive revenues were at $168 million, a 27-percent growth; industrial at $68 million, a 10-percent increase; while aerospace, which IMI entered through the acquisition of a company, is now at $13 million, a growth of 6 percent from last year.

Consumer and telecom segment, however, declined by 59 percent and 12 percent, respectively, due to delays in new project awards and economic slowdown in China.

Aside from elevated raw materials costs, tight supplies of electronics components raised the need for expedited production cycles and expensive freight deliveries to main-

tain IMI’s top-level standards, the company said.

“The long and healthy relationships with our key customers have enabled us to open discussions to mitigate financial headwinds on IMI as we weather the global component issue. Having positioned ourselves as a top provider of high complexity technology solutions, we are poised to rebound quickly on both revenue and profitability aspects as our investments in the past years come to full utilization,” said Arthur Tan, the company’s CEO. IMI has used $180 million for capital expenditures in the past three years, a significant portion of which was spent to support development of high-tech businesses and the opening of new operating sites that expanded its manufacturing footprint to Serbia and Japan.

‘Rare’ wave of hiring hits Hong Kong as virtual banks beef up

H

ONG Kong’s banking sector, one of the most staid areas of its financial industry, is seeing an unusual spurt of recruitment as newly licensed virtual banks race to snap up talent.

Four ventures that won permits have about 200 people in the city, which may more than double by the time they start operating, said Carol Cheung, a director at headhunter Robert Walters Plc. The Hong Kong Monetary Authority expects the virtual banks to begin offering retail and commercial services within nine months and is processing four more applications.

“How often do you see Hong Kong’s most regulated banking industry create something totally new?” said Cheung. “This wave of hiring is rare.”

While firms including Robert Walters are on the lookout for everyone from business chiefs to operational staff, finding the right skill set may prove challenging.

Though crowned as a financial hub and boasting a banking sector that steadily employs 100,000

people, Hong Kong has relied on a clutch of traditional lenders and is behind regional economies in financial technology.

“There’s already a lack of fintech talent in Hong Kong’s banking industry as not every banking practitioner is a good fit,” said Simon Loong, founder of WeLab Holdings Ltd., which was granted a license earlier this month. “Some bankers who are experienced in doing traditional sales may not be suitable for fintechdriven services.”

WeLab plans to double its Hong Kong headcount to 200 in the next 12 months. Standard Chartered Plc. said its venture needs to boost its 100-strong team by another 40 people. ZhongAn Online P&C Insurance Co.’s virtual bank has about 100 employees across Hong Kong and China and, while it’s looking to add more, the firm said it doesn’t have a hard target.

Headhunters are looking for system developers, and risk and compliance officers, among others. They said salaries may not be extravagant because virtual banks will operate

Megaworld receives ‘International Star for Quality’ award in Switzerland

P

ROPERTY giant Megaworld welcomed another distinct recognition after it was awarded the “International Star Award for Quality [ISAQ]” during the 21st International ISAQ Convention held recently in Geneva, Switzerland. This is the second time the company received such recognition.

The ISAQ of Business Initiative Directions (BID) is presented in recognition of companies or organizations in different countries throughout the world that further their reputation and position by implementing and promoting quality culture. The award recognizes and encourages the contribution of organizations and companies to quality, continuous improvement, and customer satisfaction, as well as improving relations with employees, supplies and all those associated with winning organizations.

“We take great pride and honor in this latest recognition, especially since we are receiving this award for the second straight year.

We have always made it a point to promote a culture centered on quality, leadership, technology, and innovation, and this recognition will only inspire us to continue enriching this kind of culture moving forward,” said Marivic Acosta, senior vice president, Megaworld International.

The companies and organizations from various parts of the world given this honor were voted and recommended by the leaders who received the award in previous years.

Attended by hundreds of outstanding personalities from the business world and diplomatic corps from over 70 countries, the award recipients served as icons of commitment and models of leadership, technology and innovation.

Security Bank advisory for Labor Day

A

L L S e c u r it y B a n k branches, except for the Naia and Naia Terminal 3 branches, will be closed on May 1, 2019, (Wednesday) in observance of the Labor Day

holiday, per Proclamation 555, Series of 2018.

For assistance, please call our Customer Contact Center at 88791-88 or e-mail us at customercare@securitybank.com.

like fintech start-ups, but the new businesses could attract staff by offering share options.

Some firms are looking beyond the city for recruits. While almost 70 percent of employees at SC Digital Solutions Ltd., controlled by Standard Chartered, are from Hong Kong, it has hired from technology firms and

MUTUAL FUNDS

digital banks in North America, Europe, China and Australia, said Samir Subberwal, a director on the virtual bank’s board.

“There is a bit of tightness in terms of getting the right amount of talent in Hong Kong,” Subberwal said. “That’s why we’re hiring globally.” Bloomberg News

April 29, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 262.56 0.56% 1.44% 1.39% 4.1% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5958 3.23% 10.09% 2.93% 10.76% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.114 -0.61% 2% 0.42% 5.41% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9307 1.47% N.A. N.A. 4.51% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8671 3.57% N.A. N.A. 5.65% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4714 2.89% 1.27% 1.09% 3.8% MBG EQUITY INVESTMENT FUND, INC. -A 126.54 10.48% N.A. N.A. 8.66% ONE WEALTHY NATION FUND, INC. -A 0.8734 0.43% -3.43% N.A. 4.93% PAMI EQUITY INDEX FUND, INC. -A 51.9057 4.01% 2.48% N.A. 5.49% PHILAM STRATEGIC GROWTH FUND, INC. -A 542.53 3.47% 1.44% 1.2% 5.4% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3073 3.59% 2.92% 3.87% 4.25% PHILEQUITY FUND, INC. -A 38.5463 3.82% 3.8% 3.34% 5.22% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0371 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2566 3.86% 3.42% 3.54% 6.01% PHILIPPINE STOCK INDEX FUND CORP. -A 877.4 3.98% 3.09% 3.51% 5.9% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9313 6.39% 2.39% N.A. 8.14% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3195 5.22% 3.46% 2.74% 6.42% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0089 3.47% 3.09% N.A. 5.72% UNITED FUND, INC. -A 3.725 6.06% 5.49% 3.46% 6.4% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.3876 4.29% 4.18% 4.58% 6% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0288 -5.19% 6.79% 1.52% 10.73% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2972 2.93% N.A. N.A. 17.38% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7172 0.82% -0.34% -1.24% 4% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3114 0.48% 1.4% 0.97% 4.63% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6314 2.5% -0.37% -1.37% 3.44% GREPALIFE BALANCED FUND CORPORATION -A 1.3513 0.22% N.A. N.A. 3.6% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9153 3.23% 1.48% 1.49% 3.92% PAMI HORIZON FUND, INC. -A 3.6711 1.98% 0.12% 0.59% 4.02% PHILAM FUND, INC. -A 16.576 3.01% 0.38% 0.64% 4.2% SOLIDARITAS FUND, INC. -A 2.1394 2.25% 1.71% 2.26% 3.24% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8465 4.28% 1.59% 1.78% 5.34% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9961 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9941 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9923 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9802 4.19% 1.55% N.A. 6.35% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03608 3.35% 0.41% 1.51% 2.35% PAMI ASIA BALANCED FUND, INC. -A $0.9919 -4.79% 3.57% -0.3% 5.95% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7267 2.7% 6.25% 3.15% 12.64% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0925 1.37% N.A. N.A. 8.17% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.93 2.87% 2.06% 2.14% 1.33% ATRAM CORPORATE BOND FUND, INC. -A 1 1.8844 1.06% -0.17% 0.02% 1.36% COCOLIFE FIXED INCOME FUND, INC. -A 3.0186 5.32% 5.21% 5.29% 1.61% EKKLESIA MUTUAL FUND INC. -A 2.1596 2.38% 1.14% 1.84% 1.37% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2564 1.85% 0.39% 0.91% 2.13% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6035 1.15% -0.76% 0.3% 2.5% PHILAM BOND FUND, INC. -A 4.0343 2% -0.51% 0.81% 2.92% PHILEQUITY PESO BOND FUND, INC. -A 3.6095 3.25% 1.07% 1.23% 2.63% SOLDIVO BOND FUND, INC. -A 0.9186 1.35% -0.74% N.A. 2.91% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.886 4.93% 1.31% 1.83% 4.34% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5992 4.43% 0.74% 1.33% 3.85% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $454.35 2.88% 1.8% 2.84% 1.35% ALFM EURO BOND FUND, INC. -A Є216.02 1.51% 1.41% 1.57% 1.58% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1674 4.75% 1.69% 2.33% 3.7% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0252 2.02% 0.67% N.A. 1.61% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7134 0.45% -1.29% 0.86% 1.37% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0619 2.81% -0.62% -2.36% 2.34% PHILAM DOLLAR BOND FUND, INC. -A $2.2595 4.85% 0.43% 2.74% 4.07% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0581958 2.84% 1.15% 1.76% 2.13% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9752 2.47% -0.12% 2.07% 3.59% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.57 3.51% 2.21% 1.8% 1.43% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.009 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1971 2.81% 1.23% 0.78% 1.29% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2353 3.31% 2.5% 1.88% 1.34% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.024 2.08% N.A. N.A. 0.8%

* - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE.

**** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.).

***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018.

********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

www.businessmirror.com.ph | Editor: Angel R. Calso

The World BusinessMirror

Tuesday, April 30, 2019

B3

IMF: Mideast economies seen retracting in 2019

Sanchez Bloomberg

Socialist Sanchez wins Spanish vote but may need help from separatists

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ocialist Pedro Sanchez is set to return as prime minister of Spain with his leftleaning allies close to a majority, though he may still rely on Catalan separatists to govern.

The Socialists won 123 seats in Sunday’s election, up from 85 in 2016. Its left-wing ally Podemos has another 43 seats while the Basque Nationalists, another group likely to support Sanchez, has six. That would g i ve S a nc he z 17 2 s e at s. He needs 176 for a majority.

Wit h pa r t ies prepa r ing to f ight t he Eu ropea n elect ions at t he end of May, it is l i kely to be at least a mont h before a ny a l l i a nce t a kes shape.

If the 47-year-old Sanchez can deliver Spain’s first stable government in almost four years he’ll have a chance to chart a way forward for the country after years of political turmoil. With the economy growing faster than the euro-zone average, he’ll also become the standard bearer for social democracy across Europe.

A second Sanchez government bucks the trend of crumbling voter support for Europe’s other centerleft parties. He’s already served 10 months as the head of a minority government but was forced to call a snap election when he failed to pass his budget.

Sanchez has two main options: an alliance with the liberals of Ciudadanos or a cobbled-together government with Podemos and a hodgepodge of smaller, regional parties with the support of moderate Catalan separatists. The arithmetic for an alliance with Ciudadanos is more straightforward—together they have 180 seats—but politically it’s problematic.

Ciudadanos’s leader A lbert Rivera has ruled out supporting Sanchez to focus on becoming the dominant force on the right, while Sanchez’s supporters are similarly opposed. Socialist voters chanted “Not with Rivera” as he made his victory speech at the party headquarters in Madrid. Sanchez, however, said on Sunday night that he was still keeping his options open.

Esquerra Republicana, the more moderate of two Catalan separatist groups, won 15 seats. If Sanchez doesn’t convince Esquerra Republicana to vote in favor of his premiership, he could settle for the party’s abstention. Spanish parliamentary statutes stipulate that if a candidate for prime minister doesn’t win a first round

of voting by a majority, he can still be appointed if more lawmakers vote in favor of him than against him in a second round of voting.

For Sanchez, those numbers appear to add up. The reaction in bond markets was somewhat positive, with the extra yield investors demand to hold Spanish 10-year debt over similar German securities narrowing by three basis points on Monday. In the stock market, however, the benchmark IBEX 35 Index underperformed European counterparts.

The premier has wooed Spaniards by boosting the minimum wage and pension payments while remaining committed to spending within the fiscal limits set by the European Union.

Sanchez also capitalized on the emergence of a new nationalist party to motivate supporters, who have historically been less reliable than voters on the right. Vox is entering parliament for the first time, but with 24 seats, it fell short of expectations. The traditional conservative group, the People’s Party, lost about half its seats and will have 66 deputies in the new parliament.

Newcomers

Vox’s parliamentary presence will mean Spain is no longer exempt from the right-wing populism that’s swept across Europe and the US. But Spain remains a particularly enthusiastic member of the EU. Not even Vox is suggesting pulling out.

The campaign was dominated by the question of how to handle the aftermath of Catalonia’s 2017 push for independence. Sanchez said the best way to calm tensions after an illegal independence referendum is to talk about granting Catalonia more autonomy, though he’s ruled out an official vote on secession.

His hand strengthened postelection, a second-term Sanchez would likely continue down the policy path of more social spending paid for by somewhat higher taxes on corporations and the wealthy.

Spain’s budget deficit fell in 2018 to 2.5 percent, and Sanchez and his ministers have pledged to keep whittling it down. Sanchez is unlikely to undertake the sweeping reforms that Spain’s economy needs to tackle its high unemployment rate and other structural problems, but neither is he likely to implement measures that would derail Spain’s robust recovery.

Bloomberg News

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UBAI, United Arab Emirates—Political uncertainty and volatile oil prices are weighing heavily on economic growth in the Middle East this year, according to a new report released on Monday by the International Monetary Fund (IMF).

The report, which looks at the economies of 23 countries spanning North Africa, the Levant, the Persian Gulf, but also Djibouti, Somalia, Afghanistan and Pakistan, predicts that overall growth across these nations is expected to slow down from close to 2 percent last year to about 1.5 percent in 2019.

Inflation is expected to remain unchanged at close to 10 percent.

A closer look, however, shows sharp variations from country to country.

Iran, for example, is expected to be among the hardest hit this year. The IMF expects a 6-percent retraction in economic growth in 2019—and that does not factor in the recent announcement by the US that waivers on Iranian oil exports will expire next week, further deepening Iran’s economic recession. Last year, Iran’s economy retracted by nearly 4 percent, and inflation remains high.

“The removal of waiver will affect more the recession,” said Jihad Azour, the IMF’s Mideast and Central Asia department director. “A negative growth of 6 percent has an impact on poverty, social protection and also on jobs.”

Azour said one of the most pressing issues facing Iran with the impact of US sanctions is the need to align the official currency exchange rates for the Iranian rial with black market rates.

Wealthy Gulf Arab oil exporters face their own sets of challenges, namely diversifying their economies away from reliance on oil exports for revenue in the face of sharp ebbs and flows in prices over the past six months.

Catholic church wants more vigorous crackdown on Sri Lankan Islamists

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OLOMBO, Sri Lanka—The Catholic church in Sri Lanka said on Tuesday that the government should crack down on Islamists with more vigor “as if on war footing” in the aftermath of the Easter bombings.

Cardinal Malcolm Ranjith, the archbishop of Colombo, said the church may not be able to stop people from taking the law into their own hands unless the government conducts a more thorough investigation and prevents further attacks.

The cardinal said on Monday that he is not satisfied in the manner in which the government has done its investigations so far. Ranjith told reporters, “All the security forces should be involved and function as if on war footing.”

“I want to state that we may not be able to keep people under control in the absence of a stronger security program. We can’t forever give them false promises and keep them calm. [We ask the government] to implement a proper program in order that the people don’t take the law into their own hands,” he said.

More than 250 people were killed when seven Islamist suicide bombers blew themselves up targeting worshippers in three churches and in three luxury hotels. The victims included at least 40 tourists who were having breakfast at the hotels.

Two other suicide bombers died triggering blasts, one to avoid capture by the police and another at an inn he was staying.

The Islamic State group has claimed responsibility, and investigators are looking into the extent of their direct involvement with the local radicalized Muslims who carried out the attacks. AP

Oil extends decline after Trump renews his call for lower prices

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il extended its slide to near $63 a barrel after US President Donald Trump renewed his push for lower prices and Russia said it would restore normal oil flows to eastern Europe within two weeks.

Futures in New York retreated as much as 0.8 percent, following a 4.5-percent drop over the previous three sessions. Crude fell by the most in two months on Friday as President Trump said he’d personally pressed the Organization of the Petroleum Exporting Countries (Opec) to keep prices down. Russia’s assurances it will be able to quickly resolve an oil contamination crisis that’s choked off flows to nations including Poland and Germany also aided sentiment.

Oil has gone into reverse after hitting a sixmonth high last week following the White House’s

announcement that it won’t renew exemptions allowing China and some other buyers to keep importing Iranian crude. Yet, doubts about how strictly those sanctions will be implemented, and to what extent Saudi Arabia and other producers will pump more mean there’s still a lack of clarity on where prices will go from here.

“Oil’s finding its place between $60 and $65, and the range seems to be about right as supplies are still looking tight, while there are limitations for an additional rally,” said Ahn Yea Ha, a commodities analyst at Kiwoom Securities Co. in Seoul. “Further gains will be restricted by Saudi Arabia, along with other producers including the US, as no one wants to see a rapid increase in prices that would hurt consumption.”

West Texas Intermediate (WTI) for June delivery fell

31 cents to $62.99 a barrel on the New York Mercantile Exchange at 11:13 a.m. in Singapore after dropping as much as 51 cents earlier. The contract settled 2.9 percent lower on Friday and was down 1.1 percent for the week.

Brent for June settlement lost 25 cents to $71.90 a barrel on the London-based ICE Futures Europe exchange. The contract declined 3 percent on Friday, the biggest drop since February 25. The global benchmark crude was at a premium of $8.92 to WTI. After briefing reporters on Friday, Trump said on Twitter he had spoken to Saudi Arabia and other suppliers about boosting oil flows and he said that “all are in agreement.” The US president hasn’t spoken with officials at Opec’s secretariat in Vienna, according to a person with knowledge of the matter. Bloomberg News

The international lender said the six Gulf Cooperation Council countries of Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Oman and Qatar will also need to create 1 million new jobs annually for at least the next five years just to keep unemployment rates from climbing.

For these countries, overall economic growth is expected to remain basically unchanged at around 2 percent in 2019. Specifically, non-oil growth is projected to pick up slightly from last year at closer to 3 percent in 2019, although fiscal deficits will also expand somewhat from last year.

More specifically, Saudi Arabia’s economic growth is expected to slow down from 2.2 percent in 2018 to 1.8 percent this year.

For oil-importing countries like Egypt, Jordan, Lebanon and others in the region, inflation overall is expected to remain mostly unchanged at around 10 percent, and growth is expected to slow from just over 4 percent last year to 3.6 percent in 2019. That average is mainly driven by Pakistan, where economic growth is expected to slow from about 5 percent last year to close to 3 percent this year.

Meanwhile, protests in Algeria and Sudan, conflicts in Libya, Syria and Yemen, tensions between India and Pakistan and shaky peace talks in Afghanistan “may increase investors’ perception of risk for the whole region, leading to capital outflows and exchange-rate pressure,” the IMF noted.

“This may feed back into further oil price volatility and regional uncertainty,” the report said.

Oil prices climbed above $80 a barrel in October, then fell below $50 a barrel in January. The IMF is factoring an average of around $65 a barrel in the medium term.

The organization says swings in oil prices are being impacted by global trade tensions, US sanctions on Iranian oil exports and oil production cuts by Opec and other oil producing nations.

The unrest in countries like Algeria and Sudan is heavily rooted in economic discontent over unemployment, corruption and poor public services.

For oil-importing countries, unemployment remains stubbornly high at close to 25 percent among young people, the IMF said. AP

B4 Tuesday, April 30, 2019

AVID SALES INCREASE BY 8% IN MARCH AS INDUSTRY CONTINUES TO RECOVER

W SM CITY FAIRVIEW PARKWAY OPENS SM City Fairview just got bigger and better with the recent opening of its parkway-expansion wing. This gives the mall’s customers more exciting shopping and dining experience with its delightful choices of fashion, dining, beauty and wellness, and entertainment concepts. Photo shows Rep. Alfred Vargas of the Fifth District of Quezon City with SM Supermalls Senior Vice President for Operations Bien Mateo, SM Supermalls Senior Assistant Vice President for Operations Johanna Rupisan and SM Supermalls Senior Vice President for Marketing Jonjon San Agustin at the ceremonial toast.

MAYNILAD INAUGURATES SECOND WATER-TREATMENT PLANT IN MUNTINLUPA

ITH the continued recovery of the automotive industry, the Association of Vehicle Importers and Distributors Inc. (Avid) reported 7,952 units sold in March, an 8-percent increase, compared to the 7,380 units sold in March last year. This bucks the trend in the first two months of the year, which saw a decline of 8 percent. For the first quarter of 2019, Avid sold 22,497 units, 3 percent lower than the 23,038 units reported in the same period last year.

“Avid’s first-quarter performance [this year] indicates that the automotive industry has turned the corner and is now experiencing modest recovery. We expect a further upturn in the next three quarters, on the back of improved consumer sentiment, the introduction

of exciting and innovative vehicles, and the government’s ag gressive infrastructure program. Avid aims to be at the forefront of this growth in vehicle sales,” Avid President Ma. Fe Perez-Agudo said.

In March the light commercial-vehicle segment registered a 21-percent year-onyear increase with sales totaling 4,998 units, making it the primary growth and volume driver. The segment rose by 4 percent in the first three months of the year, bringing the sales tally to 14,168 units. Ford leads the segment with 5,456 units sold in the first quarter.

The passenger-car segment declined by 9 percent to 2,831 units in March, and fell 13 percent to 7,993 units in the first quarter of the year. Hyundai continues to lead this segment with 5,404 units sold

during the period.

In the commercial-vehicle sector, sales slipped by 2 percent to 123 units in March and slightly dipped by 1 percent to 336 in the first quarter. As the leader in this segment, Hyundai posted strong gains with 239 units sold during the period.

“If positive economic fundamentals, including low inflation and rising living standards, are sustained, we can expect a renewed boost to motorization in the country. And Avid is more than ready to offer customers up-to-theminute innovation in our products and services,” Agudo added.

The combined effects of easing inflation, lower unemployment rates, and near-term boost from election-related spending is expected to fuel private consumption for the rest of the year.

THE BIRTH OF THIRD GENTING CRUISE LINE

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EST-ZONE concessionaire Maynilad Water Services Inc. (Maynilad) recently inaugurated its second water-treatment plant in Barangay Putatan, Muntinlupa City. The Putatan Water Treatment Plant 2 (PWTP 2), which sources raw water from Laguna Lake, is part of Maynilad’s water security program to minimize dependence on the Angat Dam. Maynilad Chairman Manuel V. Pangilinan said the PWTP 2 is proof of Maynilad’s commitment to continue meeting its service obligations as specified in the concession agreement. Besides the PWTP 1 and 2, Pangilinan said that

Maynilad plans to build more facilities in the area to tap raw water from Laguna Lake.

Photo shows MWSS administrator Velasco and Representatives Biazon, Castelo and Fernando touring the new facility, which is one of the largest membranebased water-treatment facilities in the Philippines.

It uses a multistage process of dissolved air flotation, biological aerated filter, ultrafiltration, reverse osmosis and chlorination to treat the lake water and convert it to a product that complies with the Philippine national standards for drinking water of the Department of Health.

ENTING cruise lines we lcomes Ex plorer Dream, t he t hird member of its D re a m C r u i s e s ’ f l e e t i n S h a n g h a i Wusongkou International C r u i s e Te r m i n a l .

Ex plorer Dream i s t he f i rst newly launched cr uise ship of the post rec a l ibrat ion per iod i n t he Chinese cr uise industr y, and its ar r iva l a lso marks Dream Cr uises’ debut in Easter n China, w ith the cr uise liner pur posely built and recent ly renovated for the A sian and Chinese lu xur y market.

Leverag ing on the deploy ment of Ex plorer Dream, D rea m C r u i ses’ f irst 200,000 -ton globa l class ship, set to debut in 2021, w ill a lso celebrate its pr ime deploy ment in Shanghai as the largest cr uise ship to homepor t in the A sia Pacific.

Honorable g uests Su Ping, v ice mag istrate of the ShanghaiBaoshan distr ict gover nment; and Hui Lim, deput y chief executive officer and executive director of Genting Hong Kong, were joined b y m a n a gement e xec ut ives a nd over 500 g uests at the ceremonia l l au n c h e v e nt . T h e c h r i s t e n i n g ceremony featured Grace Chen, the godmother of Explorer Dream and one of the most inf luential fashion innovators in China.

With the traditiona l brea k ing of the champag ne bott le against the bow of the ship, the Explorer Dream officia lly begins its jour ney w ith Dream Cr uises. “ D re a m C r u i s e s i s t he mo s t recognized cruise brand in S o u t h e r n C h i n a d u e t o Wo r l d D re a m b e i n g p o s it ione d i n t he dua l homepor ts of Guangzhou and Hong K ong. Howe ver, a s we a l l k now, t he ea ster n a nd nor t her n C h i nese m a rket s [a re] f ive t i mes l a rger t h a n t he sout h, a nd D rea m Cruises will be building two 20 4 ,0 0 0 - g ro s s - ton G lob a l C l a s s ships to be launched star ting early 2021 i n S h a n g h a i a nd T i a nji n , to accommodate this market.

T hese t wo sh ips, be i ng bu i lt i n ou r ow n sh ip y a rd s [i n] G er m a ny, a re a l so desig ned to be t he most adv a nced a nd i nte l l igent c r u i se s h i p s e v e r t o b e c o n s t r u c t e d ,” L i m sa id . “ I n order to pre pa re t he fou nd at ion s a nd i nc rea se D rea m C r u i ses’ bra nd aw a reness i n ea st a nd nor t h C h i n a , we a re plea sed tod ay to we lcome Ex plorer Dream i n S h a ng h a i a s t he t h i rd sh ip i n ou r D rea m C r u i ses’ f leet .”

T he Ex plorer Dream i s t he second ship of the Genting cr uise l ines to homepor t in Sha ngha i, made possible by the tremendous suppor t of the Shanghai Baoshan Distr ict Gover nment. “ I n Ju ly 2017 [t he] G e nt i n g cruise lines launched the ‘Golden Sea Route’ seven-night itinerar y in Shanghai, which garnered the Best Itinerar y Award [at] the Shanghai

Cruise Tourism Festival. In October 2018 a strategic memorandum of understanding was signed between the Baoshan district government and Genting cruise lines. Now the inaugural arrival of the Explorer D re a m , t h e n e w e s t m e m b e r o f Dream Cruises in Shanghai, will bring forth distinctive and premium cr uise travel products to propel optima l development in China,” Su Ping said.

A fter the inaug ura l ceremony, C hen presented a spect ac u l a r fashion show at sea aboa rd t he sh ip. 18 mode l s showc a sed her “ Voy age” col lec t ion a nd w a l ked t he r u nway on T he Pa l ace pool deck, where g uests enjoyed a v isua l feast inspired by the spir it of ex ploration and discover y, both of which are the brand essence of Dream Cr uises.

Since its launch t wo years ago, Dream Cr uises has gar nered nu merou s accol ades for its t wo c r u i se sh ips — Gent ing Dream, wh ic h debuted i n 2016; a nd World Dream in 2017—including St a r Per for mer Top 10 R at i ng s i n t h e L a r g e R e s o r t c a t e g o r y, Most Popu l a r Fa m i ly C r u ise Bra nd in C h ina 2018 by Globa l Times, Top 5 Cr uise Lines in the Large-/Medium-Sized Cr uise Ship categor y by Conde Nast Traveler’s Gold List and more.

Built with German craftsmanship, the Explorer Dream mea su res 26 8 meters i n leng t h a nd 32 meters in w idt h. It ha s a tota l g ross ton of 75,338, 928 cabins and lower ber th capacit y of 1,856 passengers. T he sig nature, lu xur y “ship w ithin a ship” enclave of Dream Cr u ises—T he Palace— prov ides an unprecedented “ Tr ue Asian Lu xur y” experience to discer ning travelers in China and A sia, boasting an industr y leading staff to guest ratio, a majority of its suites at over 40 square meters, as wel l as propr ietar y butler training endorsed by a f f i l i ated compa ny Cr ysta l Cr uises, the world ’s most awarded lu x ur y cr uise line.

A generous var iet y of cu linar y options w il l a lso be available to cater for ever y taste, from inspired A sian f lavors to exquisite wester n

delicacies. Acc laimed Austra lian Chef Mark Best keeps the ante up w ith his sig nature Seafood Gr il l

by Mark Best.

Signature Dream dining favorites will also take pride on the new ship including “Umi Uma” for Japanese delights, “Silk Road ” for traditional C hinese fare, “Blue L agoon” for Sout heast A sia n comfor t food a nd “ Pa l m Cou r t ” for i n for m a l ref reshments a nd breat h-t a k ing v iews. For adventurous food ies, the a l l new Mozzarel la R istorante e P i z z er i a t a nt a l i z es a moder n fusion of classic Ita lian dishes and pizzas w ith a Japanese t w ist.

Guests of Explorer Dream can a lso enjoy thematic prog rams on t heir jour neys at sea, inc lud ing “ The Connoisseurs’ Circle” bespoke e n r ic h me nt prog r a m , fe at u r i ng inspirational talks and events that are especia l ly curated for g uests of T he Pa lace, such as a fashion ta lk by Chen.

A s t he fastest cr uise ship in A si a , t he Ex plorer Dream of fers g reat it i nera r ies. Sa i l i ngs f rom Shanghai homeport take guests on cr uises to popu lar destinations in Japan from three to six nights, such as the three-night cruises to Kyoto, Osa k a or Kobe, or the t wo-night round-tr ip cr uise to Ok inawa. In the month of Apr il, when cher r y blossoms in Japan are in full bloom, guests can enjoy the dazzling f loral display on shore complemented by authentic Japanese experiences on the cruise, such as specialty dishes featuring Japanese wag yu beef and pork, tuna-cutting per for mances, Yu k ata tr ia ls, poolside festiva ls and more.

Star ting on Ju ly 1 the Explorer D ream w i l l b e g i n it s home p or t deploy ment in Tianjin, w ith more summer-cr uise options for family travelers who enjoy the renow ned stage productions of Kaixin Mahua at sea. Ta k ing t he f irst step to evolve Dream Cr uises into “A sia’s G l o b a l C r u i s e L i ne ” b y s a i l i n g outside A sian waters, the Explorer Dream w i l l homepor t in Syd ney and Auck land in October, where it w il l embark on a var iet y of sevennight week ly itinerar ies to “Dow n Under” destinations.

UNSTOPPABLE KEVIN DURANT! Sports O BusinessMirror

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| Tuesday, April 30, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

By Janie Mccauley The Associated Press

AKLAND, California—Steve Kerr saw his share of spectacular postseason performances playing alongside one of the greatest ever.

“There was this guy named Michael, I can’t remember his last name,” the Golden State coach cracked in reference to former Bulls teammate Michael Jordan.

Kevin Durant is having a superb postseason run of his own.

Durant scored 35 points in outdueling James Harden and the Warriors held off the Houston Rockets, 104-100, on Sunday in the opener of what is shaping up to be a sensational best-of-seven Western Conference semifinal.

“When he’s being as aggressive as he’s been, I don’t think there’s anyone in the NBA [National Basketball Association], maybe the world who can stop him,” Draymond Green said of the two-time reigning NBA Finals Most Valuable Player.

Houston’s Chris Paul was ejected with 4.4 seconds left for a second technical, though he said afterward he wasn’t sure what he did wrong—and he wouldn’t say whether he made contact with official Josh Tiven while arguing.

“I don’t know, yet. Nobody told me. He just called a tech,” said Paul, who had rebounded a missed 3-pointer by Harden that could have tied the game with nine seconds left and was arguing for a foul.

Green added 14 points, nine assists and nine rebounds for the two-time defending champion Warriors, who are meeting the Rockets in the postseason for the fourth time in five years, with Houston having never been victorious.

Game Two is Tuesday night back at Oracle Arena.

Harden scored 35 points and Eric Gordon 27 after both struggled early.

The Rockets shot 14 for 47 from long range.

Harden, who shot nine for 28 and four of 16 on threes, wasn’t shy about his frustration with the officiating and the lack of foul calls on Houston’s threepoint tries.

“I just want a fair chance, man. Call the game how it’s supposed to

be called and that’s it, and I’ll live with the results,” Harden said.

Told of Harden’s remarks, Green said: “Huh? I’ve been fouled by James on a James 3-pointer before. I ain’t trying to hear that.”

Harden’s three-point play with 40 seconds left pulled Houston within 100-98. Stephen Curry knocked down a three on the other end over Nene moments later and finished with 18 points, seven rebounds and four assists.

Durant, who had combined for 95 points the previous two games against the Clippers, shot 11 for 25 and made 12 of 15 free throws in his fifth straight 30-point playoff performance—matching his career-best streak accomplished from June 1 to 12, 2017.

“Kevin’s run these last couple weeks has just been off the charts,” Kerr said. “I’ve said it a few times this week, he’s the most skilled basketball player on Earth. He’s one of the most skilled basketball players to ever play the game.”

Durant said he was “just tailor made for the moment, I guess.”

“I’m starting to put everything together on both sides of the ball,” he added.

Technical fouls on Paul and Rockets Coach Mike D’Antoni 2.1 seconds apart in the final minute of the third allowed the Warriors to take an 83-76 lead into the final 12 minutes after Durant converted the free throws.

“They’re real costly,” D’Antoni said.

Klay Thompson scored 13 points on a sprained right ankle.

Both Curry and Thompson had been listed as questionable nursing tender right ankles after they each sprained them in Game Six against the Clippers on Friday night. Curry was cleared beforehand but Thompson had to go through warmups before Golden State’s medical staff determined he was fine to play.

“Yesterday was a long day, in the treatment room for a long time,” Curry said.

Kerr went with Iguodala over 7-foot center Andrew Bogut in the starting five to go smaller out of the gates against the Rockets. He plans to stick with it for Game Two. “That’s our best lineup,” Kerr said.

These West powerhouses fought through a seven-game series in last year’s Western Conference finals, when Golden State rallied from a 3-2 deficit to win Game Seven on Houston’s home floor.

Paul is on a mission after he sat out the final two games because of an injured right hamstring he hurt in Game Five. He had 17 points on Sunday.

The Rockets missed their final 27 three-pointers in the deciding 2018 game and came out cold again, missing their first eight from deep before Harden connected at the 4:35 mark of the first.

Durant scored 45 and a playoff career-high 50 points his previous two games against the Clippers.

“You’re assuming you can defend him,” D’Antoni said before the game.

“That’s an assumption nobody knows, yet.”

With his first basket, Durant (1,281) passed Wilt Chamberlain (1,246) for fifth place on the Warriors’ postseason scoring list.

Durant now has 3,901 career playoff points, passing Larry Bird (3,897) for 11th place.

Irving, Horford lift Celtics against Bucks in opener

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KEVIN DURANT is having a superb postseason run of his own. AP

BOSTON’S Al Horford is fouled by Milwaukee’s Giannis Antetokounmpo during the second half of Game One of their playoff series on Sunday. AP

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ARCELONA, Spain—Dominic Thiem capped an impressive week to win the Barcelona Open on Sunday, securing his second title of the year.

The fifth-ranked Austrian beat Daniil Medvedev, 6-4, 6-0, on Sunday, a day after he was dominant against Rafael Nadal in the semifinals to become the first player other than Novak Djokovic to defeat the Spaniard on clay four times.

Thiem, who didn’t lose a set all week in Barcelona, had beaten Roger Federer in the Indian Wells final last month.

Thiem is the first Austrian winner in Barcelona since Thomas Muster, who won in 1995 and 1996.

“Winning this means a lot to me because it’s such a traditional and special tournament,” Thiem said. “Only great players have won here. Rafa has won it 11 times and it means a lot that Muster won it twice. It’s a big moment for me.”

Thiem had lost to Nadal in the Barcelona final two years ago. It was his first final on clay since last year’s French Open, when he also lost to the Spaniard.

The 14th-ranked Medvedev, coming off a semifinal appearance in Monte Carlo, was playing in his first clay court final. He has reached at least the semifinals in five of his nine tournaments this season and has a tour-best 25 wins in 2019.

The 23-year-old Russian started well by taking a 3-0 lead with an early break in the first set, but he was never in contention again after Thiem took control of a match that lasted just more than an hour.

Thiem dropped only five points in the second set, winning 14 in a row at one stage. He won 12 of the last 13 games.

“I tried my best, but Dominic was too good today,” Medvedev said. “At one point, even just getting a point off him was a great achievement.”

It was the 13th career singles title for the 25-year-old Thiem, the ninth on clay. He next plays in Madrid, where he has been runner-up the last two seasons.

“A title like this always gives you a lot of confidence, so I’ll be in a good mood going into Madrid,” Thiem said. “But the special thing about tennis is that I’ll start from zero in Madrid. All the guys there are really strong, so I’ll need to be ready from the first point.” AP

NO SWEAT IN BARCELONA

DOMINIC THIEM jumps into a pool with ball boys and girls after his victory in the Barcelona Open. AP

ILWAUKEE—Al Horford stood his ground as Giannis Antetokounmpo charged his way.

Antetokounmpo, the Milwaukee Bucks’ Most Valuable Player candidate, desperately wanted to provide a spark and cut into a second-half lead against Horford’s Boston Celtics in the opener of a second-round playoff series on Sunday. He drove hard into the lane, quickly switched directions and tried to lay the ball up over Horford, who met him at the rim and blocked the shot.

Antetokounmpo corralled the ball and went up a second time only to be met by Horford again, who this time spiked the ball to the court.

The Celtics clamped down on Antetokounmpo all game and cruised past the Bucks, 112-90.

“Our focus was to make sure that we just made it tough on him every time, just making sure he earned everything he got,” Horford said. “I felt like we did a pretty good job of that.”

Kyrie Irving had 26 points and 11 assists, tying his playoff career high, and Horford added 20 points and 11 rebounds to pace Boston, which controlled the game for long stretches while playing stingy defense against Antetokounmpo.

Jaylen Brown chipped in with 19 points and Gordon Hayward had 13 off the bench for the Celtics.

Antetokounmpo scored 22 points but shot just seven for 21. He didn’t make his first field goal until the first minute of the second quarter.

“It was one of the toughest losses we’ve ever had, all season, especially at home,” Antetokounmpo said.

Game Two is on Tuesday in Milwaukee.

Bucks Coach Mike Budenholzer is expecting his star player to bounce back.

“As great as he’s been, he hasn’t been perfect every night,” Budenholzer said. “He’s hard on himself, so there will probably be some point where I put my arms around him and tell him, ‘You’re going to be great.’”

Khris Middleton had 16 for Milwaukee, which completed a four-game sweep of the Detroit Pistons on Monday and advanced to the second round of the playoffs for the first time since 2001. The Celtics came off a sweep of their own against Indiana.

The Celtics knocked Milwaukee out of the playoffs in seven games last year, winning the final game at home. This year, Milwaukee is the top seed in the East and has home-court advantage throughout the postseason after posting the NBA’s best record, but Boston didn’t play like an underdog in any way.

The Celtics jumped out early, leading by as many as 11 in the opening quarter. Boston shot 52 percent while the Bucks shot only five of 19.

The shooting woes continued for the Bucks until midway through the second quarter, when Milwaukee used a 15-0 run to pull even at 40. The teams then traded baskets with the Celtics grabbing a 52-50 lead at the half.

Boston used a 9-0 run in the third quarter to again build a double-digit lead, which grew to as much as 21 as Milwaukee again failed to make shots.

“This is a hard team to play against,” Celtics Coach Brad Stevens said.

“That wasn’t their best game.”

Irving thinks the Celtics have been rounding into shape in the playoffs after an uneven regular season.

“We were dealing with our ups and downs, but I think we just have an appreciation for the group that we have,” he said. AP

Spo

Business

C2 Tuesday, April 30, 2019

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OHN LLOYD CABALO and Lora Micah Amogius became multiple gold medalists after ruling their respective third events in the Arafura Games on Sunday in Darwin, Australia.

Cabalo captured the 13-14 women’s 4x400-meter gold on Monday along with Joviane Calixto, Romel Bautista, and Reymark Godoy with a time of three minutes, 29.11 seconds, beating compatriots Al-Nhaquiev Sappari, Nicko Caparoso, Jason Buenacosa and Norman Carl Luardo, who clocked 3:32.12.

Amogius also won her third gold on Sunday night when she teamed up with Erika Lois Suelan, Zoemarie Hilario and Krisha Joanna Apin in swimming’s 400-m individual medley with a time of 4:42.42, nearly nine seconds ahead of silver medalist Northern Territory.

The 18-year-old Cabalo of Puerto Princesa City won the 400m and 4x100-m relay, while the 13-year-old Amogius of Davao City took the 100m backstroke and 200-m individual medley golds on Saturday

CABALO, AMOGIUS BAG 3RD GOLDS IN ARAFURA to give the Philippines a rousing start to its campaign supported by the Philippine Sports Commission (PSC) and Standard Insurance.

Monday’s morning session in athletics also saw Romel Bautista winning the gold in the men’s 400-m hurdles with a time of 1:03.16.

The Philippines also swept the 4x400-m courtesy of May Therese Gula, Abegail Manzano, Jessel Lumapas and Ara Delotavo, who clocked 4:37.10.

Swimming added five gold medals on Sunday with John Paul Elises notching a new Arafura Games record in the 15-16 men’s 100-m butterfly

with a time of 1:00.11. He broke the previous mark of 1:00.33 set by Ross Pearce in 2001.

Joshua del Rio (men’s 15-16 200-m breaststroke), Fritz Jun Rodriguez (men’s 17 and over 100-m butterfly) and Apin (800-m freestyle) also won gold medals in swimming.

Mark Anthony Casenas snatched his second gold on Sunday in men’s long jump, as Franz Gala Bintad and Eliza Coyum claimed the men’s javelin throw and women’s 100-m hurdles titles, respectively.

In muay, Jenelyn Olsim lost her semifinal bout to YS of Australia to settle for bronze in women’s female elite -54 kilograms.

The PSC thanked the Filipino community in Northern Territory, which treated the entire delegation to a sumptuous dinner on Sunday.

The Arafura Games continues with the men’s basketball team opening its campaign against Torres Strait on Tuesday. The final day of swimming and resumption of muay are also set on Tuesday.

THE men’s 4x400-meter relay team of (from left) Romel Bautista, John Lloyd Cabalo, Reymark Godoy and Joviane Calixto pose with their medals.

Petron, F2 belles clash in Game One of Superliga finals

Kipchoge wins, Big Ben labors in London run

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ONDON—Eliud Kipchoge of Kenya ran the second-fastest time ever to win the London Marathon for a record fourth time on Sunday, and compatriot Brigid Kosgei swept to victory by almost two minutes in the women’s race.

The 34-year-old Kipchoge pulled clear of Ethiopian runners Mosinet Geremew and Mule Wasihun in the final 10 minutes to complete the 26.2-mile (42.2-kilometer) course in two hours, two minutes and 37 seconds on a blustery day in the British capital.

Only Kipchoge has run a marathon quicker than that, when breaking the world record in Berlin in September in a time of 2:01.39. With more twists and turns, London is typically a slower course than Berlin—making Kipchoge’s display even more exceptional.

“I’m happy to win on the streets of London for the fourth time and to make history on a day that the event has raised £1 billion [$1.3 billion],” said Kipchoge, who won in London in 2015, 2016 and 2018.

Geremew finished 18 seconds behind, and Wasihun a further 21 seconds back. Nobody has run quicker to finish a marathon in second or third place.

Home favorite Mo Farah—a four-time Olympic champion on the track—could not live with the pace, dropping away at the 14-mile mark and finishing a distant fifth at the end of a week when he was involved in an extraordinary public feud with retired distance-running great Haile Gebrselassie.

Kosgei bettered her second-place finish in last year’s race by winning in 2:18.20 for her second victory in the World Marathon Majors,

ALGIN GOMEZ of Cagayan region wins the long jump gold but because the wind helps him glide to the pit, his effort is nullified as a record. NONOY LACZA

A SILVER OF A RECORD

By Ramon Rafael Bonilla

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AVAO CITY—John Mike Lera clinched a silver medal that glittered like gold.

Lera, competing for Northern Mindanao, finished second in secondary boys long jump in the Palarong Pambansa at the University of MindanaoMatina Campus on Monday Algin Gomez of Cagayan region won the gold with his leap of 7.55 meters, numbers that surpassed the national junior record of 7.43m set by Jose Jerry Belibestre in the National Open in 2017

But Gomez didn’t go to the record books and Lera’s effort of 7.39m that was instead recognized as a new standard in the games. Why? Gomez’s jump was, thanks to technology, was deemed wind-

aided—velocity of 2.8 meters per second with the rules stating that no records shall be given when the velocity exceeding 2.0 m/s.

The 15-year-old Lera’s wind assistance, on the other hand, was 1.5 m/s, this allowing him to break Julian Fuentes’s 7.26m in Lingayen two years ago.

Living in adverse conditions, the Grade 9 student at Mobod Integrated School in Oroquieta City used to train hip-deep in the beach to strengthen his legs. He also did not expect anything in the long jump because he focused on the triple jump.

“This is for my family who are always there to give me inspiration,” said the first-time Palaro athlete Lera, who dedicated his feat to his parents especially his father who is a fisherman.

“We are just poor in the

province. I help my father when he is at sea. So this victory is really big for us.”

Calabarzon’s Patrick Botabara clinched bronze with 6.96m.

Lheslie de Lima of Bicol region, meanwhile, retained the 3,000-m steeplechase for secondary girls in the multisport event organized by the Department of Education and supported by the Philippine Sports Commission.

De Lima, who won two golds and one silver last year in Vigan, ruled the steeplechase in the morning to emerge as the games’ first gold-medal winner.

The 14-year-old sprinted past her opponents in the final 250m, a strategy that earned her three golds in middle distance events in the Batang Pinoy.

She clocked 10:22.42 to keep her throne.

She beat Camila Tubiano (10:32.32) of Northern Mindanao and Lovely Cordovilla

Viray twins showcase wares before fellow Pangasinense

T ELIUD KIPCHOGE acknowledges the crowd as Lukas Bates, wearing a costume of the Queen Elizabeth Tower (known as Big Ben), is assisted by an official as he attempts to get past the finishing line. AP

after Chicago last year. She ran the quickest-ever second half of a women’s marathon.

Compatriot and defending champion Vivian Cheruiyot finished in a time of 2:20.14 and Roza Dereje of Ethiopia was third, 37 seconds further back.

Dan Romanchuk, a 20-year-old American, won the men’s wheelchair race ahead of Switzerland’s Marcel Hug. The women’s wheelchair race was won comfortably by Switzerland’s Manuela Schar, the 2017 champion.

BAD TIME FOR BIG BEN ONE runner in the London Marathon had a bad time at the end.

Lukas Bates, 30, of the Paddock Wood Athletic Club in Kent, was attempting to break the world record for a runner dressed as a landmark building—in this case the tower that houses Big Ben. But as he finished, his costume’s peaked roof, which stretched 1.5 meters (nearly 5 feet) above his head, ran into the overhead scoreboard. After several failed attempts to get under the barrier, a race steward helped him to cross the line on Sunday.

Bates’s quest for the record was also stymied.

He finished in three hours, 54 minutes and 21 seconds, almost 20 minutes slower than the record set by Richard Mietz, who ran the 2018 Berlin Marathon dressed as the Holstentor. AP

(10:38.82) of Central Luzon.

In other results, Ainah Marie Masangkay of the National Capital Region topped the discus throw for secondary girls by registering 34.16m. Kate Martinez (33.90m) of Western Visayas and Khessie Baluyot (33.54m) of Davao region completed the podium.

Bellanca Marie Valerio of Central Luzon copped the gold in discus throw elementary girls with a heave of 33.74m.

Jazen Araño (31.91m) of the National Capital Region and Mekyla Taborite (31.81m) of Western Visayas finished 2-3 in the event.

On Tuesday, 18 gold medals will be staked in medal-rich swimming at the Davao CityUniversity of the Philippines Sports Complex.

In athletics, 16 golds will be contested, while rhythmic and artistic gymnastics will also commence at the University of Immaculate Concepcion.

San Juan Knights grace PSA Forum

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EWLY crowned Maharlika Pilipinas Basketball League (MPBL) champion San Juan Knights headline Tuesday’s guests list in the weekly Philippine Sportswriters Association (PSA) Forum at the Amelie Hotel-Manila.

The Knights will be headed by Coach Randy Alcantara along with some key players, and to be accompanied by commissioner Kenneth Duremdes in the public sports program presented by San Miguel Corp., Tapa King, Amelie Hotel, and the Philippine Amusement and Gaming Corp.

Also part of the discussion in the session that starts at 10:30 a.m. are the coming PRUride PH 2019 race in Subic and the second conference of The Nationals.

Coming over for PRUride PH, a UCI 2.2 stage race set from May 23 to 26, are Ian Alacar, Coach Rick Rodriguez, Elite winners Jeremy Prado and Jan Paul Morales, and Pru Life UK Senior Vice President Allan Tumbaga.

Commissioner Daren Vitug, meanwhile, will talk about the second offering of The Nationals this year starting May 1.

Summer Youth League gets going

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HE National Capital Region Football Association (NCRFA) launched its Summer Youth League at the British School Manila over the weekend.

Now on its third year, the tournament will host 2,000 players from various clubs all over Metro Manila. Teams from Rizal, Olongapo, Tanauan, Laguna and some other provincial

teams have been invited, as well.

With the support of Makati Football Club, NCRFA is able to build a youth tournament that is for all the kids, giving everyone a chance to play, as well as to promote the game.

“It is essential for the NCRFA youth foothball league that team registration goes for free unlike other leagues who charge a

WINS Nieza and Ella Viray will strut their wares in front of their fellow Pangasinense in the BVR On Tour: Lingayen Open that kicks off on Tuesday at the Capitol Beachfront in Lingayen.

Making their first stint since the National Championship in Dagupan City last year, the Virays, who were instrumental in getting two National Collegiate Athletic Association championships for San Beda, will lead a crack field of 12 women’s teams in the two-day tournament being held as part of the town’s annual Pistay Dayat celebrations.

Perlas’s Bea Tan and Dij Rodriguez, the Puerto Galera and Santa Fe (Bantayan Island) leg winners, hope to get back on the winning track after finishing second to University of Santo Tomas’s Babylove Barbon and Gen Eslapor in Dumaguete over the weekend.

Roma Joy Doromal will not have her younger sister Roma Mae as partner this time around and instead it will be Kly Orillaneda that will form the National University (NU)-Boysen 1 team.

Bingle Landicho will also make her muchawaited return for NU Boysen 2 with Kath Epa. It will be a wide open race in the men’s division with this year’s three-time champions Ranran Abdilla and Jessie Lopez skipping the action.

Representing Air Force 2, Jade Becaldo and Mike Abria, former two-time Boracay beach premium, so it won’t exclude any child or team from joining,” said SeLu Lozano, Makati Football Club CEO, and NCRFA summer youth league founder and organizer.

All uniforms are provided for all players and officials while food will be given every match day.

The tournament has a noble cause, as the league will collect football shoes to donate to the kids who are not fortunate enough to have the right gears for football.

volleyball champions, who were reunited and placed second in Dumaguete over the weekend, are installed as heavy favorites.

Other women’s players to watch out are the Air Force pairs of May Ann Pantino and Jozza Cabalsa, and Mikaela Andres and Angel Antipuesto, and Santa Lucia’s Jackie Estoquia and DM Demontaño.

Air Force 1’s Edwin Tolentino and Ruben Inaudito, and NU-Boysen’s Pol Salvador and James Buytrago are also expected to contend in the men’s side.

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NTENSE volleyball action goes full blast as the best club teams in the country—Petron and F2 Logistics—open another chapter in their storied rivalry when they clash in the Philippine Superliga Grand Prix best-of-three finals on Tuesday at the Filoil Flying V Centre in San Juan.

Game One is set at 7 p.m. with the Blaze Spikers and the Cargo Movers clashing for sixth straight time in the finals of the women’s club league bankrolled by Asics, Mueller, Mikasa, Senoh, Team Rebel Sports, Bizooku, UCPB Gen, Cocolife, Hotel Sogo and Data Project.

Cignal and PLDT Home Fibr, meanwhile, seek to end their campaign on a high note when they collide in the bronze-medal match at 4:15 p.m.

Bannered by the best imports and most reliable locals, the Blaze Spikers and Cargo Movers were heavily tipped to dispute the crown.

Petron soared to 14 straight wins in the classification round before creaming Sta. Lucia in the quarterfinals and Cignal in the semifinals to move two wins away from sweeping the tournament—a feat it first achieved in the AllFilipino Conference in 2015.

F2 Logistics, on the other hand, blew hot and cold as it lost star setter Kim Fajardo to injury and finished the classification with an 11-3 won-lost record. The Cargo Movers survived a scare from a game Foton squad in the quarterfinals before restoring order when they dominated the Power Hitters in the semifinals.

Now, F2 Logistics is back in the finals as the underdogs against a team which last tasted a loss in Game Two of the All-Filipino finals on December 18 of last year.

But for Head Coach Shaq de los Santos, previous records and statistics should be flushed down the drain because this finals series is an entirely different story.

“The sweep in the preliminaries is over. This is now a brand new challenge for us,” said de los Santos, who is no stranger to sweeping the conference as he served as assistant to George Pascua during that historic run in 2015.

“We have to double our effort if we want to be back-to-back champions. We know for sure that they will try their best to win Game One to gain momentum and dictate the tempo of this series.”

De los Santos, however, admitted that they are wary of their former import—reigning Most Valuable Player Lindsay Stalzer—who crossed the enemy lines and will be powering F2 Logistics in spoiling their championship parade.

SAN BEDA’S Nieza and Ella Viray are ready to perform in front of their provincemates in Pangasinan.

orts

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Tuesday, April 30, 2019 C3

SMB-MAGNOLIA SHOWDOWN UP S

AN Miguel Beer is a solid favorite to extend its Philippine Basketball Association Philippine Cup reign to a fifth-straight season.

And for the Beermen’s Head Coach Leo Austria, the mission is to take down sister team Magnolia—and celebrate after.

Austria told Monday’s traditional pre-Finals press conference at Sambokojin Restaurant in Libis, Quezon City, that their rematch with the Hotshots won’t be walk in the park despite huge odds favoring the Beermen.

“It’s going to be harder because just like what Chito [Victolero] said, they have matured already. They gained a lot of experience,” Austria noted.

San Miguel beat Magnolia in the All-Filipino conference last year in five games.

June Mar Fajardo, the five-time Most Valuable Player, was a beast in that series and scored 42 points and hauled down 20 rebounds in Game Five. He earned the Finals Most Valuable Player trophy for his effort.

But a lot has changed since that titular showdown, especially on

the Hotshots side. They won the Governors’ Cup last season ending a four-year championship drought.

Magnolia also booked a return trip to the Finals this conference despite finishing sixth in the eliminations.

Before entering the championship round, the team had to win five games of six crucial matches.

“I believe that their players are getting better,” Austria admitted.

Game One of the Finals is set at 7 p.m. on Wednesday at the Smart Araneta Coliseum.

Austria is used to championship pressure but stressed winning Game One always gives a team an edge.

“What we are thinking is the first game in the Finals because we believe the first game could dictate the tempo of the series,” he said.

Ramon Rafael Bonilla

COACHES Leo Austria of defending champion San Miguel Beer and Chito Victolero of Magnolia pose with the Philippine Cup trophy with their players, Commissioner William Marcial, and Governors Robert Non and Rene Pardo during Monday’s traditional pre-Final press conference.

Ambassador Feria welcomes Mangrobang in Lisbon

S Blue Eagles grab bonus in playoffs

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IGNAL-ATENEO snatched the first twice-tobeat advantage in the Philippine Basketball Association Developmental League playoffs with a gritty 102-88 win over Che’Lu Bar and Grill on Monday at the JCSGO Gym in Cubao, Quezon City.

Thirdy Ravena made 24 points, seven rebounds and four assists as the Blue Eagles finished the eliminations at 8-1 won-lost to bag up at least a top-two finish in the Aspirants Group.

Ivorian slotman Ange Kouame had 18 points, 16 rebounds and four blocks, while Adrian Wong helped Cignal-Ateneo finish off Che’Lu with six points in the fourth period to wind up with 17.

Things got chippy with 5:39 left in the fourth quarter when Chris Dumapig was whistled for a flagrant foul penalty one after hitting William Navarro, which escalated to a verbal tussle between Coach Tab Baldwin and Stephen Siruma.

That exchange only lit a fire in the Blue Eagles who turned an eight-point lead, 82-74, to a 16-point bubble, 93-77, with 3:36 remaining.

“I think it got into our heads a little bit, and we didn’t execute a lot of good basketball actions, and it’s something we can learn from. I’m just happy that we’re able to hold our ground,” said Baldwin reflecting on the heightened physicality of the affair.

Jhaps Bautista uncorked 21 points on a 3-of-6 shooting to lead Che’Lu, which dropped to 3-3.

Philip Manalang had 20.

Universiy of Santo Tomas clobbered McDavid, 111-90, for its fifth win on Monday’s other game.

Soulemane Chabi Yo led the Growling Tigers with his 25 points, 15 rebounds and five assists.

OUTHEAST Asian Games (SEA Games) gold-medal winner Marion Kim Mangrobang took time out from her hectic training schedule at the Rio Maior Sports Center to cast her vote on the third day of the worldwide Overseas Absentee Voting exercise at the Philippine Embassy in Lisbon.

Philippine Ambassador to Portugal Celia Anna M. Feria welcomed Ms. Mangrobang at the Embassy.

Mangrobang is ranked in the top 100 elite triathletes in the world. Her most recent competition was at the Continental Cup in Brasilia, Brazil, where she placed third.

She also competed at the Continental Cup in Santos, also in Brazil, where she finished fourth.

While in Rio Maior, Mangrobang trained for the World Cup Triathlon set in Huatulco, Mexico, in June.

Mangrobang has been training for the past four years at the Rio Maior Sports Center in the Santarem District of Portugal, just north of Lisbon, under renowned Coach Sergio Santos, the former Portuguese Olympic and world champion.

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KIM MANGROBANG (left) calls on Philippine Ambassador to Portugal Celia Anna Feria.

VICTORIOUS KIWI

New Zealand’s Amelia Watkinson (center) displays her medal as she poses with runner-up Anna Eberhardt (right) of Hungary and Guam’s Manami Iijima after ruling the women’s pro division of the inaugural Sun Life 5150 triathlon in Naga City, Cebu, on Sunday.

DAVAO HOSTS 1ST HEAVYWEIGHT TITLE CLASH SINCE ‘THRILLA’

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OR the first time since the classic “Thrilla in Manila” in 1975, international heavyweight boxing will return to local shores via a southern route.

“Thrilla In Davao” is set on June 15 and will have a world heavyweight crown at stake just like the last championship fight between Muhammad Ali and Joe Frazier at the Araneta Coliseum nearly half a century ago.

Ali won the brutal fight—regarded by boxing historians as one of the greatest of all time— when Frazier could not answer the starting bell for their 15th and final round.

Ronald Johnson, a former World Boxing Council (WBC) North America light-heavyweight champion, will clash with Wu Zhiyu of China. Wu

Guino-o named Player of the Week by sports scribes

holds both the WBC continental heavyweight and WBC Asian Boxing Council cruiserweight belts.

Johnson and Wu shoot for the vacant world heavyweight title of the Global Boxing Organization (GBO), a Los Angeles-based fight sanctioning body that is expanding internationally after years of focusing on US fights.

Johnson, 34, brings a record of 15 wins (with four TKOs) against only one loss via majority decision, while 36-year-old Wu has nine wins, two losses and one draw on his fight resume.

The Davao fight card consisting of six bouts is organized by veteran matchmaker Rey Rodis, a former protégé of Don King—the famous promoter of Thrilla In Manila and other iconic

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EATHER GUINO-O still rose to the occasion even though it was a no-bearing game that gave Far Eastern University (FEU) a huge morale booster ahead of the Final Four.

Already locked at No.4 heading into the semifinals, Guino-o unleashed a career-high 24 points as FEU stunned defending champion De La Salle with a comefrom-behind 25-22, 13-25, 15-25, 27-25, 15-8 victory on

fights. Rodis will roll out a red-carpet dinner boxing affair at the 1,500-seat Tent City in Azuela Cove, a new upscale waterside development in Davao City’s outskirts.

Two major supporting bouts with GBO championship belts on the line will showcase young Filipino and Indonesian contenders.

In the 130-pound junior lightweight category, 22-year-old KJ Natuplag of Ifugao will stake his unblemished record of eight wins, including seven stoppages, against Reynold Kundimang (4-1-3) of Jakarta for the GBO Asia Pacific crown.

Another undefeated fighter from Ifugao, Roy Nagulman (8-0-1), who at 17 has knocked out five of his nine opponents, will clash

Summit Point Invitational set

WU

JOHNSON

with 18-year-old Jufri Kakahure (4-2-0) to determine the next GBO Asia Pacific bantamweight (118 lbs) king. All matches will be co-supervised by the Games and Amusements Board and GBO.

Sunday to end its eliminations campaign on a high note at the Filoil Flying V Centre in San Juan City.

As she saved her best for last in elimination round, the graduating wing spiker earned the last Collegiate Press Corps Player of the Week award in University Athletic Association of the Philippines Season 81 women’s volleyball action.

“For us, it wasn’t a no-bearing [game],” Guino-o

HE Summit Point Golf and Country Club (SPGCC) is all set to introduce another novelty when it hosts the 12th Invitational member-guest tournament on Thursday in Lipa City, Batangas.

Summit Point, whose World 18 layout has been drawing raves for top-notch maintenance, is handing out 10 international tour packages as grand prizes—an innovation different from the usual practice of giving out cars or carts.

“The tandem raffle, wherein the guest wins whatever the member gets, will again be part of the Summer Shindig-type of awards night, which Okada Manila will sponsor, and will continue as the club’s tradition, SPGCC President Robbie Leviste said.

Hole-in-one prizes are Peugeot 308 from Peugeot Lipa, Yamaha cart from Kart Plaza, Yamaha RS 110F from Venture Motorcycle,

cash prizes from VMJ and New Canaan Insurance, Okada packages, a Cobra King F7 iron set with Puma bag and Mission Hills Package from Mission Hills Haikou.

General Manager Vic de Guzman also said each participant of the four-day event sponsored by Okada Manila and supported

by J-Ten Sports, Kiga, VMJ Evergreen, Le Mans, Summit Realty, Sta. Lucia, Emperador and Gerry’s Grill will get one minor prize.

Manny Espeleta, Kampfortis, Dr. Gerry Aguado, Narcing Dimapilis, Kenneth Izon, Toyoshi Nagami/Funai, Batangas Blades Golf Association, GGNA, Forest Hills, Pradera Verde, Beverly Place, Sonny Ricablanca, Vincent Duke, Saturday Group, Winston, Inquirer Golf, Sherwood Hills, Eastridge, Eagle Ridge, South Forbes, GolfPH, Baron Travel, Edwin Gardiola, Pepsi, Gatorade and Megaworld are the other supporters of the event.

BREAKDANCING AT PARIS ‘24 GETS OLYMPIC BODY PRIORITY

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ORLD Dance Sport Federation (WDSF) President Shawn Tay held “very positive and productive discussions” with International Olympic Committee (IOC) Executive Board member Ser Miang Ng after breakdancing was proposed for inclusion at Paris 2024.

Breakdancing making its debut on the Olympic program at the Games in the French capital was among the main topics of the meeting.

It was one of four sports, alongside skateboarding, surfing and sport climbing, recommended for provisional inclusion by the IOC Executive Board last month.

Tay and Ser Miang discussed governance of breakdancing amid uncertainty over the true governing body for the sport. They also spoke about the development of other dance sport disciplines.

In a statement, the WDSF claimed Tay “valued the input from the long-time Olympic and sports administrator and added that he looked forward to continued dialogue with Ng in the months ahead.”

Tay said he was delighted to meet with Ng and the two had very positive and productive discussions, the statement added.

Breakdancing, skateboarding, surfing and sport climbing are likely to be included at Paris 2024 and the IOC Session is expected to provisionally rubber-stamp their places on the program in June.

said. “We needed the win to boost our morale.”

After ending an eight-game losing streak to De La Salle, Guino-o beat Chiara Permentilla of Adamson University, Sisi Rondina of University of Santo Tomas, Kat Tolentino of Ateneo and Jolina de la Cruz of De La Salle for the weekly award.

The spiker from Cavite emerged as FEU’s top scorer—No.7 in the league—with averages of 12.8

Major competitions in breakdancing are set to be analyzed by the IOC before it is confirmed by the Executive Board in December 2020.

The IOC will look at elements such as management of the sport, governance, integrity of competitions and refereeing and judging systems.

Russian Olympic Committee (ROC) President Stanislav Pozdnyakov, meanwhile, welcomed the proposed introduction of breakdancing at Paris 2024.

IOC President Thomas Bach claimed the four sports would make Paris 2024 “more gender balanced, more youthful and more urban” and “offer the opportunity to connect with the young generation.”

Skateboarding, surfing and sport climbing are set to make their Olympic bows at Tokyo 2020. Breakdancing could follow suit four years later at Paris 2024.

Pozdnyakov has claimed the ROC would welcome the addition of breakdancing.

“We are glad that breakdancing is on the list,” he told Russian news agency TASS. “We had a really good start in this competition at the Youth Olympic Games.”

Three breakdancing events featured at the Buenos Aires 2018 Youth Olympics, where athletes participated in battles. Russia’s Bumblebee triumphed in the “B-boys” event at the Games and secured a bronze medal as part of the mixed team competition.

points per game in the eliminations.

Playing her best in her final playing year, Guino-o just wanted to do everything she can for FEU and be a great example to her teammates.

“I don’t think about the points I make, what I think about is how to help the team win, how to inspire my teammates and get their confidence going,” Guino-o said.

Insidethegames

GUINO-O

THERE’S A FRESH FEELING

IN CHAMPIONS LEAGUE Sports BusinessMirror

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| Tuesday, April 30, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

No winners in race for final Champs League spot in Spain

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ADRID—First it was Valencia. Then Sevilla. And finally Getafe.

Three teams fighting for the coveted final Champions League spot in the Spanish league all lost on Sunday, leaving the race wide open.

Real Madrid joined the losers’ list on Sunday—with Zinedine Zidane’s team defeated 1-0 by struggling Rayo Vallecano—a day after seeing Barcelona clinch its second straight title, and eighth in 11 seasons.

The result practically ended Madrid’s chances of catching Atletico Madrid for second place, meaning it will likely finish outside of the top two in consecutive seasons for the first time since 1973-74. It is nine points behind Atletico with three rounds remaining.

It was Madrid’s fourth away match without a win since Zidane’s return to the helm. The team won all matches at home but is yet to win away from the Santiago Bernabeu Stadium.

“We can’t play like that, and I’m responsible as well,” Zidane said. “We didn’t do anything. We have to apologize to the fans and to the club.”

In the fight for the final Champions League place, Valencia lost, 1-0, to Eibar, Sevilla also lost, 1-0, at Girona and Getafe was defeated, 2-1, by Real Sociedad.

Fourth-place Getafe stayed level on points with Sevilla but led on the head-to-head tiebreaker. Sixthplace Valencia was three points back.

Seventh-place Athletic Bilbao, five points behind Getafe and Sevilla, drew 1-1 with eighth-place Alaves on Saturday.

Valencia failed to capitalize on the several chances it created against midtable Eibar and conceded in the third minute of second-half injury time.

It was the second consecutive loss for Valencia after it had won four in a row in all competitions. Eibar had won only one of its last eight matches, and its last away victory dated back to October.

“We failed, but we can’t give up just yet,” Valencia defender Jose Luis Gaya said. “We still have chances.”

Valencia remains in contention for two titles this season. It has reached the Copa del Rey final—against Barcelona on May 25—and the semifinals of the Europa League against Arsenal.

Sevilla played with a chance to regain fourth place, but a 62nd-minute goal by Portu gave victory to Girona, which had lost six straight and needed the three points to escape the relegation zone.

Getafe couldn’t overcome a slow start at midtable Real Sociedad and wasn’t helped by video decisions.

Sociedad scored its opening goal from the penalty spot after a VAR decision, and the visitors later complained of two alleged penalties in its favor that were not called.

Getafe’s lone goal came a few minutes from the end.

“We knew this match was important because it could have given us some breathing room after the results from earlier in the day,” Getafe goalkeeper David Soria said.

“We have three finals in front of us now.” AP

By Steve Douglas

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The Associated Press

ANCHESTER, England—There’s a fresh feel to the lineup for the Champions League semifinals this season, even if it contains some of the most storied teams and recognized players in Europe.

This time there’s no Real Madrid, the three-time defending champion and Europe’s dominant team of this generation.

There’s no Cristiano Ronaldo, the superstar forward who has virtually made this competition his own in recent years.

And there’s no Juventus, Bayern Munich and Atletico Madrid—frequent last-four representatives of late.

Instead, the survivors this year in the biggest club competition in world soccer are a surprise package from England, a blast from the past from the Netherlands, and two more aristocrats of the European game looking to end lean spells in the Champions League—by their lofty standards, anyway.

Few could have foreseen one of the semifinal matchups being Tottenham versus Ajax.

Tottenham hasn’t bought a player in the last two transfer windows, needed a last-gasp draw at Barcelona’s Camp Nou to get out of its group, and has beaten Borussia Dortmund and Manchester City to reach its first European Cup semifinal in 57 years.

Hailing from the largely ignored Dutch league, Ajax is back in the semis for the first time since 1997 and seeking a fifth European Cup title—and first since 1995. Much like Monaco two seasons ago, Ajax has emerged from nowhere to stun some of the top teams on the continent, its youth-filled team beating Madrid and Juventus—Ronaldo’s past and present teams—in the knockout stage.

The other semifinal is just as intriguing and features teams expected to get this far.

However, it remains something of a mystery as to why Barcelona—led by Lionel Messi—has only made it to the last four once in the previous five years. That was in 2015, the year it won the title for the fifth time.

Liverpool is also a five-time European champion

TOTTENHAM-AJAX

THERE has been a sharp contrast in the buildup to the game for the two teams.

Ajax’s players had their feet up at the weekend after all fixtures in the Dutch top flight were canceled in an effort to help the team stay fresh for the semifinal. The Amsterdam club will go into the first leg on Tuesday on the back of a seven-day rest.

As for Tottenham, manager Mauricio Pochettino played a close-to-fullstrength team in a 1-0 defeat against West Ham in the Premier League on Saturday, with injuries limiting his ability to rotate amid a grueling schedule of games every three or four days. Spurs have yet to seal a top-4 finish in the league, which guarantees a return to the Champions League next season.

Tottenham heads into the first leg at its newly built £1-billion stadium with striker Harry Kane, midfielder Harry Winks and winger Erik Lamela among those injured, forward Heung-min Son suspended, and a big doubt over the fitness of increasingly influential midfielder Moussa Sissoko.

“We are competing with circumstances that are not the best,” Pochettino said.

Ajax beat both Madrid and Juventus away in the knockout stage.

Ajax and Tottenham last met in European competition in

leaving Liverpool, becoming the perfect foil for Lionel Messi in attack, Coutinho is yet to show the same form that made him a key player for the English club.

The Brazil playmaker hasn’t been a regular starter for Barcelona and has been jeered occasionally by parts of the crowd at Camp Nou Stadium.

Barcelona has no fresh injuries to report following a weekend in which it won the Spanish league for the 26th time.

Liverpool is locked in a title race in the Premier League, one point behind Man City with two games to go. That means Klopp hasn’t been able to rest players — unlike his counterpart at Barca, Ernesto Valverde—and he played a virtually full-strength team on Friday in a 5-0 win over Huddersfield.

Roberto Firmino missed that game with a groin injury and the Brazil striker remains a doubt for the first leg against Barcelona on Wednesday.

Liverpool and Barcelona last met in the Champions League in 2007, with Liverpool advancing on away goals in the Round of 16.

Liverpool has won all three of the teams’ twolegged European encounters.

1981, in the first round of the European Cup Winners’ Cup, with Tottenham winning.

BARCELONA-LIVERPOOL

THE matches will see Luis Suarez and Philippe Coutinho come up against Liverpool, where they were stars before joining Barcelona.

Suarez played four seasons in England before making the move to Spain in 2014, while Coutinho spent six seasons with Liverpool before a high-profile and drawn-out transfer to the Spanish powerhouse last year.

While Suarez has thrived with Barcelona after

THERE’S no Cristiano Ronaldo, the superstar forward who has virtually made this competition his own in recent years.

Technology helps Man City’s push for Premier League title B URNLEY, England—Cruelly denied by VAR in its agonizing Champions League exit, Manchester City relied on technology to keep its Premier League title charge on course on Sunday.

City scraped past Burnley, 1-0, thanks to a scruffy strike by Sergio Aguero that needed the confirmation of goal-line technology.

The distance over the line? Less than three centimeters.

The nervy wait before referee Paul Tierney awarded the goal was in keeping with a tense match at Turf Moor that ended with City having six defenders on the field— including four center backs—and under instructions

and a power again in the English Premier League under Juergen Klopp. It is a second straight year in the semifinals for a team that has such a special relationship with this competition, yet before last season, its most recent last-four appearance was in 2007.

from Pep Guardiola to “get it in the corner.”

A win by any fashion is gratefully received by City as it looks to stay ahead of Liverpool in the two-team title race that looks set to go to the final weekend.

With its 12th straight victory in the league, City— seeking to retain the title for the first time—moved one point clear of Liverpool with two games left. City’s last two games are at home to Leicester and away to Brighton, while Liverpool still has to face Newcastle away and Wolverhampton Wanderers at home.

Aguero joined Thierry Henry as the only players to score 20 or more goals in five straight Premier League seasons.

CITY scrapes past Burnley, 1-0, thanks to a scruffy strike

by Sergio Aguero that needed the confirmation of goalline technology. AP

Technology has ruled City’s fate this season.

Another big call in the league came in its 2-1 win over Liverpool in January, when City defender John Stones cleared the ball off the line—off his own deflection— with 11 millimeters to spare. That remains Liverpool’s only loss this campaign.

But it was another story in the Champions League when an injury-time goal by Raheem Sterling, which would have sent City through against Tottenham in the quarterfinals, was belatedly ruled out for offside by the video assistant referee.

At least City knows it will have another chance to win the Champions League next season. The same probably cannot be said of Manchester United anymore after its latest disappointing result, a 1-1 home draw with Chelsea. Arsenal is also struggling to qualify for Europe’s top club competition — by virtue of its Premier League placing, anyway—after getting beaten 3-0 at Leicester.

Ole Gunnar Solskjaer, meanwhile, has a decision to make about David de Gea.

REAL Madrid joins the losers’ list on Sunday—with Zinedine Zidane’s team defeated, 1-0, by struggling Rayo Vallecano—a day after seeing Barcelona clinch its second straight title—and eighth in 11 seasons. AP

The Spain goalkeeper made yet another mistake Sunday, fumbling a long-range shot to allow Marcos Alonso to convert the rebound and earn Chelsea a point at Old Trafford. That canceled out Juan Mata’s early goal.

De Gea has also produced errors to concede goals against Barcelona and Manchester City over the last two weeks. Not long ago he was regarded as United’s best player but he is turning into a liability.

“There is no chance anyone can blame him for losing points,” Solskjaer said. “He knows he could have had [held] that shot, but that is football. David is one who likes to play games and I will have chats with him and he will respond in the right way.”

It might be too late to save United from dropping back into the Europa League next season.

United stayed in sixth place, and is five points behind Tottenham and three behind Chelsea. Arsenal is a point ahead of United in fifth. Tottenham, Chelsea and Arsenal all have a much better goal difference than United. AP

Wonderful God

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EAR God, awaken us to Your presence and hear us, as we pray: Let us find our joy in You, oh God. Shatter our idols and strengthen those who are in treatment of addiction. Unite nations and faith communities in efforts to ensure all people are fed.

Grant peace and rest to the dying and comfort to their loved ones. May we prefer nothing to the love of Christ and may He bring us together to everlasting life. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life BusinessMirror

CIRCLES: NEMIRANDA: ‘I WILL PAINT FILIPINO UNTIL I DIE’ D4

Tuesday, April 30, 2019

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❹ ❶ THE Senso Memory Original Mattress

❶ ITALIAN

designer Massimiliano Locatelli lies on a sunbed made with upcycled plastic bottles, called Anonymous Design Beach lounger

❷ DESIGNERS

Piero and Francesco Lissoni pose next to their creation set consisting of a set of bowl, a vase and a lamp, made with upcycled plastic

❸ DESIGNER

Tiziano Vudafieri poses under his creation The Wilhem Lamp, made of recycled polycarbonate

❹ ITALIAN

designer Fabio Novembre poses while sitting on his Jolly Roger chair, made with upcycled plastics

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Designers turn plastic trash into treasures M

ILAN—Scientists and environmentalists have long warned about the dangers of plastic pollution, especially now that plastic trash of all types is choking the world’s rivers and oceans.

High-end designers have responded by “upcycling” discarded objects into unique, desirable design pieces.

One Milan art expert has launched an initiative, dubbed Guiltless Plastic, on the sidelines of Milan’s premier Furniture Fair design showcase, commissioning one-of-a-kind pieces made by top

designers from discarded plastic and hoping to inspire a wider movement.

Gallerist Rossana Orlandi has curated an exhibition, titled RO Plastic—Master’s Pieces, which spotlights original objects crafted from plastic trash by such luminaries as Australian designer Brodie Neill, Italian Piero Lissoni and Dutch designer Piet Hein Eek. The goal is to bring attention to the potential to transform and repurpose recycled plastic, some reclaimed directly from the sea.

Patricia Urquiola, a Spanish designer based in

Milan, made a “Wasting Time Daybed,” from upcycled plastic. The base of the daybed is created from an agglomerate of colorful recycled PET plastic. Its body, backrest and arms are made from recycled drinking bottles, and the piece is covered with blue and gray post-consumer textiles.

Urquiola said she wants to help upcycling grow into a sustainable system “in a playful but also provoking way.”

“There is no such thing as waste, because time only knows reinvention,” she said. AP

❺ DESIGNER

Lucio Micheletti poses next to his creation Victory, made with maple wood and recycled plastic from bottles and containers

❻ AUSTRALIAN designer Brodie Neill poses next to his creation “Capsule Ocean Plastic Hourglass” on a table made with his self-created Ocean Terrazzo material, made with plastic waste from oceans

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❼ ITALIAN

gallerist Rossana Orlandi sits on Spanish designer Nacho Carbonell’s chair Reevolution, made with recycled plastic from packaging

❽ GERMAN

designer Alexander Schul with his creation, “Sobstantial Chair,” made from sheets of recycled plastic, high impact polystyrene and used yoghurt containers

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100k cash prize, trip to Japan at stake for ‘Kitchen Hero’ GET a chance to win P100,000 and a culinary trip to Japan with the Solane Kitchen Hero Chefs’ Edition, a nationwide cooking competition recently launched by Solane LPG, one of the leading LPG solutions providers in the country.

The nationwide competition is open to Filipino professional chefs with at least three years of kitchen experience gained locally or abroad, and who are currently employed as a professional chef in a hotel, restaurant or any food service establishment.

Mechanics of the competition can be found at www. solane.com.ph. Submitted entries will be judged based on the following criteria: 50 percent featured ingredient/s used, and 50 percent originality and creativity. Deadline of submission is on April 30, 2019.

The competition will comprise of two rounds. Round one will be the regional competition where contestants from different provinces of a region will compete to determine who among them will represent their region at the National

Competition. Round two will be the national competition where all regional champions will have a cook-off to find out who is the Solane Kitchen Hero Chefs’ Edition Champion.

The competition will conclude on September 7.

The cooking competition is part of Solane LPG’s effort to become a trusted partner of professional chefs in making innovative dishes.

Unleash your culinary creativity and skills, and join Solane’s Kitchen Hero Chefs’ Edition now.

SLEEP specialist Dr. Keith Aguilera and Happy Skin Founder Rissa Mananquil-Trillo

EASY SOLUTIONS TO BETTER SLEEP MANY people have lifestyles that influence their sleeping patterns—from employees who work beyond office hours to finish all their deadlines, to parents who have to wake up very early and stay up late to tend to their kids.

Aside from that, they also have electronic devices which sometimes serve as distractions that hinder them from getting enough sleep.

To achieve good sleep for a healthy well-being, Happy Skin Founder Rissa Mananquil-Trillo and sleep specialist Dr. Keith Aguilera shared the benefits, tips and tricks at the recent Uratex Premium (www.uratex.com.ph) celebration of World Sleep Day held at SM Mall of Asia Activity Center.

Here are some truths about sleep. n SLEEP INFLUENCES PHYSICAL AND MENTAL HEALTH. Keith explains that sleep will dictate your future physical and mental health: “Among teenagers, if you have good sleep, it decreases the risk of obesity. If you sleep less, you will crave for more sweets and salty foods. Studies also show that patients who lack sleep could develop Alzheimer’s disease.” Meanwhile, a good night’s sleep will keep you alert and energized throughout the day, help boost your immune system and improve concentration. n GETTING ENOUGH SLEEP CLEARS SKIN. The concept of beauty sleep is not a myth. Research suggests that getting eight hours of sleep is vital in repairing, regenerating and restructuring the skin. “A lot of women invest in expensive skin care. What they don’t realize is that your skin care will work best when you get enough sleep,” says Rissa.

How can you establish a healthy bedtime routine? n FOLLOW A BEDTIME SCHEDULE. Our bodies crave for consistency. Thus, maintaining a sleeping schedule is critical to our well-being—it helps our body systems prepare for and anticipate our regular daily schedules. Having a schedule alerts the body to our wake-up time, then relaxes and become sleepy prior to bedtime. n AVOID ALCOHOL, CAFFEINE, SMOKING, AND SPICY AND SUGARY FOODS A FEW HOURS BEFORE BEDTIME. Alcohol, smoking, caffeine, salty and sugary foods are stimulants that can disrupt people’s sleeping patterns. Thus, excessive drinking of alcohol, caffeine, such as coffee, tea and sodas, and foods that are heavy, salty or sugary should be avoided at least four to six hours before bedtime. n EXERCISE REGULARLY. “Exercise regularly but not before bedtime,” stresses Keith. Working out late can have an adverse effect on your health and impact your lifestyle.

Decreases in body temperature signals the body to sleep, but exercising only leads the body temperature to rise and will take about six hours to drop. Exercise in the morning or at least three hours before bedtime. n RESERVE BED FOR SLEEP. Avoid all distractions that may prevent you from dozing off. This means, the bed should not be used as an office, workroom, or recreation room.

Eliminate all sources of light which include your smartphones and gadgets, and lights around your home as they keep you alert and awake. n INVEST IN A GOOD MATTRESS. According to Rissa, it’s important to invest in things you use often. For her, it’s a mattress from Uratex which has been with her for eight years.

She shares, “Investing in things that you use a lot eventually translates to your wellness. Having a good mattress has given me the comfort and quality sleep that I need to get through my day to day activities.”

Having a good night’s sleep may be a challenge but following these tips make getting a restful sleep for a healthy well-being definitely possible.

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Pages BusinessMirror

Tuesday, April 30, 2019

www.businessmirror.com.ph

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Gorgeous novel explores adopting a foster child W ITH breathtaking brevity, Rachel Howard’s debut novel The Risk of Us (Houghton Mifflin Harcourt) illuminates the joys, challenges, fears and frustrations of adopting a foster child. And while she delves into the minutiae of “the system” and the differences of opinion about parenting styles, her deceptively thin volume is about much more than plunging into parenthood.

Howard masterfully illuminates how parenthood manages to bend even the most solid of marriages and expose insecurities about past relationships, including those from childhood.

In The Risk of Us, the unnamed narrator and her husband, Sebastian, choose seven-year-old, Maresa, “a brown-haired gremlin with arms flung like she could fly off the page” from a binder labeled “Children Available.” They spend the next year learning about Maresa, themselves and each other, as well as the clearly dysfunctional foster-care system in California.

Howard’s first book was a memoir, which isn’t surprising given the pages of her novel brim with emotion and vulnerability. She and her husband also are the adoptive parents of a former foster child. Howard’s writing has a unique rhythm that feels choppy, even disjointed at first, but as the reader adjusts, her phrasing and word choices make each page

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Dianna Agron, 33; Kirsten Dunst, 37; Kunal Nayyar, 38; Johnny Galecki, 44.

HAPPY BIRTHDAY: Don’t lose sight of your original goals. Times are changing, and keeping up will be necessary in order to make the best choices personally, professionally and financially. Sticking to a plan and practicality will be your tickets to success. Take care of matters as they arise to avoid getting bogged down when opportunities come your way. Your lucky numbers are 2, 9, 17, 26, 31, 34, 48.

a

ARIES (March 21-April 19): Keep moving forward, regardless of what others do. If faced with emotional manipulation, walk away and do your own thing. Getting involved in other people’s problems will have consequences that can affect your reputation. Be nice, be humble and be careful. HHH

sing. Not a single word is wasted here.

There’s no bloat. Her writing is spare and elegant, yet it beautifully conveys intensity and emotional depth.

When the narrator comforts her husband: “My lamb. Salty wet face, closed eyes. Writhing side to side...And then his chest is heaving against my cheek, and the sound we are making is called a sob.” When Maresa throws a tantrum: “I am not baffled by this screaming girl, but my comprehension is no help. She is retching, she is shaking, she is spitting up bile.”

The only misstep comes near the end of the novel after what’s called “the day of the policeman” and the parents reconsider adopting Maresa.

But it’s a small lapse in a simply gorgeous novel. AP

b

TAURUS (April 20-May 20): Keep private information to yourself. Getting involved in a deal for the wrong reason will backfire.

Check your motives, as well as the motives of those you are dealing with. HHHH

c

GEMINI (May 21-June 20): Being realistic and honest about what you can do will help you avoid setbacks. Putting more energy and time into important relationships and personal improvements will bring the highest returns. Walk away from deceptive individuals. HH

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CANCER (June 21-July 22): Trust your intuition, not what you hear. Gossip will lead to trouble, but doing what you can to help a cause or someone in need will boost your reputation and bring you self-satisfaction. Don’t let an emotional relationship hold you back. HHHHH

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LEO (July 23-Aug. 22): A change someone else makes shouldn’t prompt you to follow suit. Consider what you want, and turn your plans into a reality. Opportunity begins within yourself.

Take charge of your life, and put in the time necessary to reach your objective. HHH

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‘The Liar’s Child’ is a compelling story

By Jeff Ayers The Associated Press YOUNG Cassie and her five-year-old brother, Boon, live at the Paradise apartments near North Carolina’s Outer Banks and are dealing with a broken home. Their mom left them with their father, who doesn’t have the strength or finances to handle being a single parent, and when they are together, it’s more fighting than anything else. Cassie starts acting out,

and if she’s not careful, she may fall in with the wrong crowd.

Sara arrives at the complex and reluctantly moves into an apartment near Cassie and her brother. She isn’t there on her own free will but because of the choices she made. Sara has a new name and hopes she can discover a future far away from her old life.

Cassie, Boon and Sara might not like the present, but they will have to rely on each other to guarantee a future. The path to a happy ending sometimes is

fraught with storms while finding the courage necessary to survive seems impossible. Author Carla Buckley has crafted a complex and compelling story. The nuances and dynamics at play in The Liar’s Child (Ballantine Books) will take the most jaded reader on a heartfelt and emotional journey.

The story is also unpredictable, like real life. Buckley details a tough path for her characters.

It’s guaranteed to get rocky at times, but the adventure is worthwhile.

UST to receive priceless Molina book collection DURING the latter years of his life, renowned Philippine historian Antonio M. Molina (1918-2000) would often share with his beloved wife of 50 years, Carmen (1918-2006), and his children, Carmen Molina, Sofia Molina Starnes, Pilar Molina Lalana, Chaco Molina, and Teresa Molina Lamata, his abiding affection for the institution where he spent most of his professional life, the University of Santo Tomas.

This year, in commemoration of his 100th birth anniversary, this affection will have an enduring tangible expression through the donation of his book collection to the university’s Miguel de Benavides Library. The donation also will include a bronze bust of Molina crafted by the accomplished Spanish artist, the late Domingo Gil Núñez.

Molina’s collection reflects his wide-ranging interests and encompasses Philippine history, particularly Rizal studies and the cultural heritage shared by the Philippines and Spain; education, ethics, theology and philosophy; civil and canon law; religion, church history, and hagiography; biographies of notable world figures; and linguistics and literature. Collected over a lifetime, some with personal annotations in Molina’s

handwriting, the books reveal not only an outstanding Filipino historian whose work relied heavily on original sources, but also a Renaissance scholar and committed Catholic with an engaged and engaging mind.

Molina was a professor at University of Santo Tomas (UST) from 1946 to 1970, serving also in various other capacities throughout his university career including vice rector for External Affairs, vice president of the University Research Council, dean of the Faculty of Civil Law, director of the Institute of History, and acting secretary-general.

He founded the Board of Catholic Writers and Orators, and the Aquinas Theater Guild of Manila, serving as director of the latter.

The deed of donation will be presented by Carmen Molina and Chaco Molina, on behalf of the Molina children, at a signing ceremony in the conference hall of the Benavides Library on May 2 at 10 am. Rev. Fr. Herminio V. Dagohoy, UST rector, will represent the university. Remarks also will be offered by Faculty of Civil Law Dean Atty. Nilo T. Divina and Prefect of Libraries Rev. Fr. Angel A. Aparicio, O.P.

VIRGO (Aug. 23-Sept. 22): Keep a low profile and a set destination in mind. If you stay focused on what you want to achieve, you won’t be disappointed. Don’t let anyone distract you or tempt you with something that is costly or unhealthy.

HHH

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LIBRA (Sept. 23-Oct. 22): Learn and experiment with concepts. A partnership can be advantageous as long as you keep the peace and strive for equality. Romance is on the rise and can ward off negativity or criticism from someone you love. HHH

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SCORPIO (Oct. 23-Nov. 21): Try something new, but don’t let anyone talk you into overspending or taking on too much. Consider how best to use your skills to get the results you want. A change of plans can make or break a partnership. HHHHH

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SAGITTARIUS (Nov. 22-Dec. 21): Keep moving forward, make positive adjustments at home and avoid anyone who is tempting you to do things that are risky or unsafe. Focus on partnerships, love, romance and personal improvements. Say less and do more. HH

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CAPRICORN (Dec. 22-Jan. 19): Keep busy, and don’t stop until you are satisfied with the results you get. Remember the past, but don’t let it define who you are now. Live in the moment, and head toward the future with positive intentions. HHHH

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AQUARIUS (Jan. 20-Feb. 18): Physical and mental activities or challenges will be good for you as long as you don’t overdo it.

Gauge what’s feasible and what isn’t, and know when to say no or take a break. Romance is in the stars. HHH

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PISCES (Feb. 19-March 20): Walk away from situations that are impossible. Wasting time on someone or something that is inflexible won’t solve the problem. Be progressive, and do your best to set a good example for others. HHH BIRTHDAY BABY: You are sensitive, changeable and ambitious.

You are perceptive and persuasive.

‘relatively speaking’ BY PAUL COULTER The Universal Crossword/Edited by David Steinberg

ACROSS 1 Add to a blog 5 Like Beethoven 9 Mane thing to avoid in Africa?

13 Bunk choice 15 Up to nothing 16 ___-bodied privilege 17 Us director Jordan 18 Congers, e.g.

19 They’re made by maids 20 Gunsmoke star James, to his nephews and nieces?

23 On, as a lamp 24 “Aha!” 25 1980s go-getters 27 Some boys’ fishing gear?

30 “The final frontier” 31 Drink quickly 32 Pen tip 34 Replies to an invitation, briefly 37 Amazon insect 38 Highlands mothers?

41 “Dig in!”

42 Coffee + chocolate 44 EMT’s skill

5 Siberia’s continent 4 46 Wrote a glowing review 49 Dad jokes?

51 Like some triangles 53 ___ the moon (thrilled) 54 Parenthesis shape 55 Irish granny known for refilling her plate?

60 Camp sight 62 Calf-length skirt 63 Circa 64 Cookie sheet destination 65 ___ Brockovich 66 Pelosi or Reagan 67 Trivia night champion, perhaps 68 Like a marathon 69 Big bag DOWN 1 Hawaiian platter type 2 Airy 3 Detail, for short 4 Tattling 5 Mark missing from “naive” 6 Where Eve wore fig leaves 7 Back lanes

8 Come clean 9 Black or yellow dog, informally 10 “That sounds right!”

11 Any Platters platter 12 Crows’ homes 14 Della of Touched by an Angel 21 Health-care giant 22 Trains like Laila Ali 26 Compaq machines 27 Ponzi scheme, for one 28 “This is terrible!”

29 Toy that becomes a prince, in a classic ballet 33 Covertly e-mail 35 Figure skating duo 36 South Park boy 38 Expert 39 Like the other team 40 Cache 43 Sci-fi villain with a red camera eye 45 Circus performer 47 Canine’s coat?

48 Robert of Taxi Driver 50 Southern pie pick 51 Beauty parlor

2 Desire 5 56 Father of Balder 57 Nail-biting, e.g.

58 Water carrier 59 Eye affliction 61 Book’s last word, often

Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Tuesday, April 30, 2019

‘AVENGERS: ENDGAME’ BREAKS OPENING DAY RECORDS IN PHL BOX OFFICE

FROM left: Jeremy Renner, Don Cheadle, Robert Downey Jr., Chris Evans, Karen Gillan, the character Rocket voiced by Bradley Cooper, Paul Rudd and Scarlett Johansson in a scene from Avengers: Endgame, which has shattered record in North America and across the globe.

MUCH like how Thanos snapped his fingers to wipe out half of the population of the entire universe in an instant, the much-awaited release of Marvel Studios’ Avengers: Endgame obliterated Philippine box-office records on its opening day. (See related story) Bringing a decade’s worth of action and storytelling to an epic conclusion, Avengers: Endgame smashed local opening day box-office records as it opened with P205,676,345 ($3,880,685) in 970 screens, with select cinemas starting at 6:01 am and some holding 24-hour screenings.

The fourth film in the Avengers franchise and the 22nd film in the grand Marvel Cinematic Universe (MCU), Avengers: Endgame broke the opening day record of 2018’s Avengers: Infinity War, making it the biggest opening of a Marvel film in Philippine cinemas to date.

Weeks prior to the opening day, local malls already started selling tickets for Avengers: Endgame and Filipino Marvel superfans showed their love and support for the movie as opening day tickets were almost immediately sold out.

Avengers: Endgame is now showing in Philippine cinemas nationwide.

‘Avengers: Endgame’ obliterates records with $1.2B opening Security Bank supports Filipino talent through ‘Pinoys to the World’ YOUNG Filipino talent takes the world stage as the Philippine Montessori Center Instrumental Ensemble (PMCIE) stars in a gala performance at the prestigious Carnegie Hall in New York City on May 31.

PMCIE continues their journey as global Filipino musical ambassadors with Pinoys to the World: A Celebration of Filipino Musical Artistry, a concert series that began in the Philippines in February this year and will culminate in a string of performances in New York City including a gala concert at the world-famous Carnegie Hall, the same venue known to host music legends since 1891, from Judy Garland to Frank Sinatra and The Beatles.

Since 1988, the PMCIE has performed on both local and international stages. They have impressed audiences in prominent venues like the Philippine International Convention Center, the Cultural Center of the Philippines, Meralco Theater and Malacañang in the Philippines, and Lincoln Center, Merkin Concert Hall, and Queens Theatre in the Park in New York, USA. With 17 members below seven years old, the PMCIE is one of the youngest, if not the youngest, percussion ensembles in the world. Their impressive repertoire includes classical, cultural and Broadway pieces played on unconventional instruments like the marimba, xylophone, glockenspiel, timpani and angklung.

The Philippine Montessori Center (PMC), a Quezon City-based preschool, formed the PMCIE with its belief that music plays a critical role in support of the overall development of every child.

“Not only does music give students, with both the talent and interest, an incredible opportunity to hone their artistic skills, but being part of such an orchestra instills in them an inner discipline and strengthens their character at such a young age,” said Iluminada Woellhaf, founder of PMC. The PMCIE will be accompanied by The Nightingales, a duo of former soprano soloists of the renowned Philippine Madrigal Singers.

A send-off concert will be held at the Meralco Theater on May 3. For tickets, call Preciouse Delicana at 911-4838 or 0917-6576133.

Pinoys to the World is made possible by Security Bank along with the generous support of other sponsors and donors.

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By Jake Coyle The Associated Press

EW YORK—The universe belongs to Marvel. Avengers: Endgame shattered the record for biggest opening weekend with an estimated $350 million in ticket sales domestically and $1.2 billion globally, reaching a new pinnacle in the blockbuster era that the comic-book studio has come to dominate.

The Avengers finale far exceeded even its own gargantuan expectations, according to studio estimates on Sunday. The movie had been forecast to open between $260 million and $300 million in US and Canadian theaters, but moviegoers turned out in such droves that Endgame blew past the previous record of $257.7 million, set last year by Avengers: Infinity War when it narrowly surpassed Star Wars: The Force Awakens ($248 million or about $266 million in inflation adjusted dollars.)

Endgame was just as enormous overseas.

Worldwide, it obliterated the previous record of $640.5 million, also set by Infinity War. (Infinity War didn’t open in China, the world’s second-largest movie market, until two weeks after its debut.) Endgame set a new weekend record in China, too, where it made $330.5 million.

In one fell swoop, Endgame has already made more than movies like Skyfall, Aquaman and The Dark Knight Rises grossed in their entire runs, not accounting for inflation.

Alan Horn, Disney chairman, credited Marvel Studios and its president, Kevin Feige, for challenging “notions of what is possible at the movie theater.”

“This weekend’s monumental success is a testament to the world they’ve envisioned, the talent involved, and their collective passion, matched by the irrepressible enthusiasm of fans around the world,” Horn said in a statement.

To accommodate demand, the Walt Disney Co. released Endgame in more theaters—4,662 in the US and Canada—than any opening before. Advance ticketing services set new records. Early ticket buyers crashed AMC’s web site. And starting Thursday, some theaters even stayed open 72 hours straight.

“We’ve got some really tired staff,” said John Fithian, president and chief executive of the National Association of Theater Owners. “I talked to an exhibitor in Kansas who said, ‘I’ve never sold out a 7 am show on Saturday morning before,’ and they were

doing it all across their circuit.”

Not working in the film’s favor was its lengthy running time: 181 minutes. But theaters kept adding thousands of showings for Endgame to get it on more screens than any movie before to satiate the frenzy around Endgame. Joe and Anthony Russo’s film ties together the Avengers storyline, as well as the previous 21 releases of the Marvel “cinematic universe,” begun with 2008’s Iron Man. For an industry dogged by uncertainty over the growing role of streaming, the weekend was a mammoth display of the movie theater’s lucrative potency. Fithian called it possibly “the most significant moment in the modern history of the movie business.”

“We’re looking at more than 30 million American and more than 100 million global guests that experienced Endgame on the big screen in one weekend,” Fithian said. “The numbers are just staggering.”

Further boosting the results for Endgame were good reviews; it currently ranks as 96 percent fresh on Rotten Tomatoes, the best rating for any Marvel movie aside from Black Panther. Audiences gave the film an “A+” CinemaScore.

Single-handedly, Endgame led the overall weekend at the domestic box office to a record $400 million in ticket sales, according to comScore. Endgame accounted for a staggering 88 percent of those tickets. The film’s grosses were aided by 3D screenings (a record $540 million in global ticket sales) and IMAX screenings (a company record $91.5 million).

“Our partners in exhibition have done a great job with us on this film. As they saw the need, they opened up screens,” said Cathleen Taft, distribution chief for Disney. “While there may have been a concern—Is there going to be enough seats available?—I think that exhibition met that demand and rose to the occasion.”

But if there was any shadow to the weekend for the theatrical business, it was in just how reliant theaters have grown on one studio: Disney.

Disney now holds all but one of the top 12 boxoffice openings of all time. (Universal’s Jurassic World is the lone exception.) The studio is poised for a recordbreaking year, with releases including Aladdin, Toy Story 4, The Lion King, Star Wars: The Rise of Skywalker and Frozen 2 on the horizon.

Following its acquisition of 20th Century Fox, Disney is expected to account for at least 40 percent of domestic box-office revenue in 2019, a new record of market share. The company’s Captain Marvel— positioned as a kind of Marvel lead-in to Endgame— also rose to No. 2 on the weekend, eight weeks after it opened. (The 22 films of Marvel’s “cinematic universe” have collectively earned $19.9 billion at the box office.)

Yet, theater owners regularly speak of a “halo effect” around a movie like Endgame. Such sensations draw in new moviegoers and expose millions to a barrage of movie trailers.

“This has got to be the biggest weekend in popcorn history,” said Paul Dergarabedian, senior media analyst for comScore. “Think of the gallons of soda

and the hotdogs sold. This is going to continue all week and beyond. This is going to have long-term playability for sure.”

An enormous hit was much needed for a box office that, coming into the weekend, was lagging 16 percent of the pace of last year’s ticket sales, according to comScore. Endgame moved the needle to negative 13.3 percent but the boost was less significant since Infinity War opened on the same weekend in 2018.

No other new wide release dared to open against Endgame. Warner Bros.’s The Curse of La Llorona, last week’s top movie, slid to third with $7.5 million.

The guessing game will now shift to just how much higher Endgame can go. Given its start, it’s likely to rival the top 3 worldwide grossers: The Force Awakens ($2.068 billion in 2015), Titanic ($2.187 billion in 1997) and Avatar ($2.788 in 2009).

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore.

Where available, the latest international numbers for Friday through Sunday are also included.

1. Avengers: Endgame, $350 million ($859 million international) 2. Captain Marvel, $8.1 million 3. The Curse of La Llorona, $7.5 million 4. Breakthrough, $6.3 million 5. Shazam!, $5.5 million 6. Little, $3.4 million 7. Dumbo, $3.2 million 8. Pet Sematary, $1.3 million 9. Us, $1.1 million 10. Penguins, $1.1 million. n

Sigourney Weaver helps school celebrate ‘Alien’ production NORTH BERGEN, New Jersey—Sigourney Weaver helped make a New Jersey high school’s encore stage production of Alien a special event.

Alien: The Play had drawn widespread praise after videos and images of the performances at North Bergen High School were posted online.

Among those applauding the show was Weaver, who played the character Ellen Ripley in the 1979 movie that spawned a franchise, and the film’s director, Ridley Scott, who applauded the students’ creativity and the show’s elaborate sets and special effects.

Weaver had taped a YouTube video this year in which she called the production “incredible.”

But she was at the school on Friday to watch the encore performance herself, telling the crowd before the curtain rose that “this is the night I’ve been waiting for.” AP

Art

BusinessMirror

Tuesday, April 30, 2019

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www.businessmirror.com.ph

Nemiranda: ‘I will paint Filipino until I die’ CIRCLES JT NISAY

A YOUNG boy points a camera he was playing with towards a new piece of street art believed to be by street artist Banksy on a wall where Extinction Rebellion climate protesters had set up a camp in Marble Arch, London, on April 26. AP

jtnisay@gmail.com

Climate mural emerges after London protests; is it Banksy?

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STRONG sense of nationalism characterizes the art of venerated visual artist Nemi Miranda, one that is only challenged by his words.

“I cannot imagine myself doing European art, American art, or any other Asian arts. I can only work with how I feel, and I cannot feel the culture of other countries,” said the 70-year-old savant. “I will grow old and die painting the Filipino subject.”

Scenes of Philippine countryside life in vibrant and textured depictions have come to define the art of the master also known as Nemiranda. A son of the country’s “Art Capital”—Angono, Rizal—he is regarded as the “Father of Imaginative Figurism,” a style in which concrete forms such as human subjects and environments are drawn through pure imagination, sans references.

Miranda’s process starts by observing his subjects. He then imagines them with eyes closed before beginning to paint, saying this process “purifies” the figures in his memory. The artist believes that in doing so, in creating something from nothing but his mind, he leaves a piece of his soul in each work.

“What you see in my works is the product of my soul,” he said. Miranda admitted that sometimes he goes out to do on-the-spot painting sessions. But even then, the artist maintained, he does not “copy” what he sees but “recreates” them.

Some of Miranda’s more renowned pieces are the relief sculpture in the parade ground at Fort Bonifacio, titled History of the Philippine Army; the Edsa Shrine Mural, a People Power I painting and Edsa II relief sculptures, to name a few.

Miranda credits his nationalistic artistry to three people he worked with who were all driven by a burning passion for the flag. First is Francisco Coching, regarded as the “Father of Philippine Comics,” whose works gave identity to Filipino pop culture. The others are fellow Angono artist Carlos “Botong” Francisco and Philippine neo-vernacular pioneer Arch. Francisco Mañosa. All three have been conferred with the National Artist Award.

“I admire them so much,” Miranda said. “These three are very nationalistic, at ’yun din ang nasa puso ko, ’yun din ang kaluluwa ko.”

A total of 35 works that express Miranda’s

nationalism are showcased in an ongoing exhibit, titled Nemi Miranda: Visual Diary in Pure Imagination, at Gallery C in Conrad Manila, which runs until June. The show is the 8th edition of the hotel’s “Of Art and Wine” series, mounted for the first time in partnership with the Department of Tourism (DOT) Region 4A Calabarzon.

Conrad Manila General Manager Laurent Boisdron said he hopes the partnership with DOT will lead to more showcases of art masters around the country whose works proudly display the Philippines’s finest. Meanwhile, DOT Region 4A Regional Director Marites T. Castro added that a goal for the exhibit is to introduce to viewers “not just the artist but the region that provided him with [inspiration].”

“This exhibit is a diary of my experience as an artist,” Miranda said. “This is a product of a long painting career—it’s 50 years of my visual journey.”

The 35 works of oil or acrylic on canvas are divided into five categories. The “Harvest Series,” for one, presents 10 pieces featuring Miranda’s favorite

subject, women, in traditional Filipino clothing while gathering crops.

The artist said that from repeated practice, he has mastered painting women in different angles, forms and subjects, especially the mother and child, as seen in most pieces under the series. Two of these are the Sonata sa Diwata ng Ani, featuring a child dancing to a flute that summons a fairy which his mother worships; and Palay Harvest, showing a mother clutching a basket of rice with her son beside her, lending a hand.

All the pieces in the exhibit feature a bird in the frame, the artist’s signature touch. Miranda explained that the bird represents himself as the soul of the work. “Again, my paintings are products of my imagination,” he said. “I want to put myself inside the paintings, and each carries a piece of my soul, which is in the form of a bird.”

The other four series in the exhibit are “Fantasies Painting,” where Miranda takes on the whimsical; “Myths and Legends Series,” “Marawi Homecoming” and “Traditions Painting.” n

LONDON—Officials in London are trying to determine if a stenciled mural that appeared at a base camp for climate protests was created by the street artist Banksy.

The mural is on a wall at Marble Arch, where the group Extinction Rebellion had an encampment for 10 days until Thursday and disrupted transportation in the British capital with daily, targeted nonviolent protests.

The artwork shows a child holding an Extinction Rebellion sign beside the words “From this moment despair ends and tactics begin.”

Nickie Aiken, the leader of Westminster Council, a local authority that oversees the area, said, “We believe it’s genuine and are working to confirm that it is the case.”

“This street art has clearly captured the public mood and imagination, and so we’re looking to keep it in a public place for people to enjoy,” she said.

There was no mention of the work on Friday on Banksy’s web site or Instagram account, where he typically confirms authorship. Banksy’s spokesman did not immediately respond to a request for comment.

More than 1,100 people were arrested for blocking roads and bridges during more than a week of Extinction Rebellion protests aimed at alerting the public and politicians to the “climate emergency.”

Banksy, who has never disclosed his full identity, began his career spray-painting buildings in Bristol, England. He has become one of the world’s bestknown artists through works tinged with satire and social commentary.

Last year his painting Girl With Balloon sold for £1 million ($1.3 million) at a Sotheby’s auction—and was immediately partially destroyed by a shredder that the artist had concealed in the frame.

The buyer went ahead with the purchase. AP

A TRIFECTA OF ARTWORKS KAIDA Contemporary presents Tao, a solo exhibition by Jerson Samson, and Sugar Pill, a twowoman exhibition by Nina Garibay and Naomi Mendoza, on May 5 at 6 pm.

For his 22nd solo exhibition, painter and sculptor Jerson Samson

brings to focus the many ways in which we perceive the individual.

His sculptures personify movement by casting the human figure against the wind, resulting in what seems to be half-formed entities that shift and change with every glimpse of the curious eye,

while his works on canvas take a step away from the individual by examining human emotion and experience as part of a larger whole.

Sugar Pill, a two-woman exhibit by artists Nina Garibay and Naomi Mendoza, references consumable products and services that serve

to distract people from their problems. It will feature paintings

by Garibay and sculptures by Mendoza.

Tao and Sugar Pill will be on view until May 20. Kaida Contemporary is at 45 Scout Madriñan Street, South Triangle, Quezon City.

‘Art MADE Public’ exhibits in art hub Iloilo THE Metrobank Foundation Inc. (MBFI), in partnership with Megaworld Foundation, opened the Art MADE Public: Icons MADE exhibit on March 14 at the Iloilo Museum of Contemporary Art in Iloilo City.

Serving as a triumphant homecoming, the Icons MADE exhibit showcased the winning works of six Ilonggo Metrobank Art & Design Excellence (MADE) awardees.

Joining the 2018 MADE grand awardees Noel Elicana and Alex Ordoryo, were 2018 special citation recipient Roland Llarena, 2017 MADE grand awardee Paul John Cabanalan, 2009 second prize winner Leoniel Cerbas and 2007 grand prize winner Harry Mark Gonzales.

The following day was greeted with a warm reception from the art and design community of Iloilo as they graced the Art MADE Public lecture series. In partnership with the United Architects of the Philippines (UAP), the lectures series promoted continuous learning in culture and heritage education. Guest speakers shared their expertise through a discussion led by Ricky Francisco, curator of Lopez Museum and Library, and Fundacion Sanso; multi-awarded painter and 1993 MADE winner Alfredo Esquillo; and renowned landscape architect Ar. Paulo Alcazaren.

Held every year, Art MADE Public aims to further contribute to the development of the Philippine art and design scene through traveling exhibitions, lectures and workshops, together with a call for entries for the MADE Recognition

Program. Headlined by the country’s distinguished artists, architectural experts and heritage practitioners, Art MADE Public travels to select locations all over the country.

Known for its flourishing cultural scene, Iloilo has been passionate in promoting the arts. With the citizens themselves collaborating to initiate programs, support from various private and public sectors come in to fulfill these artistic endeavors.

Closing on April 14, Art MADE Public in Iloilo was truly a milestone as this was the first time that fellow Ilonggos were able to experience the actual winning paintings and sculpture themselves. It also stays true in continuing the legacy of late Metrobank Chairman Dr. George S.K. Ty in inspiring artists to unleash their creativity, and provide a platform to educate the public through the visual arts.

“Art contributes to a people’s higher awareness of what is important and essential in life,” said MBFI President Aniceto Sobrepeña, quoting Dr. Ty. “[Art] serves to inspire and enlighten. They are likely to contribute in building the nation.”

Meanwhile, the MADE Painting Recognition Program is open to all Filipino painters aged 18 to 35 years old who have not held a solo exhibition.

The MADE Sculpture Recognition Program, on the other hand, is open to all professional Filipino sculptors who have staged at least one solo exhibition, or has a notable portfolio in commissioned public art and sculpture. The deadline for

THE ribbon-cutting ceremony formally opened 2019 Art MADE Public: Icons MADE, led by Federal Land Inc. Chairman and MBFI Vice Chairman Alfred Ty (fourth from left) with guest of honor Sen. Franklin M. Drilon (fifth from left). They were joined by MBFI President Aniceto Sobrepeña (from left), Bonifacio Landmark Corp.

Director Anna Sobrepeña, MBFI Trustee Milagros Drilon and Megaworld Foundation Vice President Tefel Valentino.

submission of entries is on or before May 10. Registration can be made at bit.ly/2019MADEPaintingSearchEntryForm or bit.ly /2019MADESculptureSearchEntryForm.

Two grand awardees for the Painting Recognition Program and one grand awardee for the Sculpture Recognition Program will be chosen by a distinguished panel of judges. They will each receive P500,000 cash assistance

and the “Mula” glass trophy designed by sculptor and MADE winner Noel El Farrol. The grand awardees will be recognized during Metrobank’s 56th anniversary in September and will also become members of the MADE-Network of Winners (MADE-NOW), the alumni organization of past MADE awardees which implements community-centered projects through art.

Envoys&Expats Awards BusinessMirror Special Feature

Tuesday, April 30, 2019

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JULIE LLUCH CREATOR OF THE MISSION: PHL TROPHY

By Psyche Roxas-Mendoza

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HE street where her home is situated is named Mayaman, a word that means rich in Pilipino.

It is a fitting description for the town house’s rich array of sculptures, and large and small art pieces—all of which came to life under her expert hands.

She is Julie Lluch, celebrated sculptress, consummate visual artist, and creator of the impressive trophies of Mission: PHL, the BusinessMirror’s Envoys&Expats Awards.

Lluch was not present during the April 4 awards night of Mission: PHL at the Samsung Hall of SM Aura in BGC, Taguig.

“I am so shy, and don’t usually attend events, where I might be called to give a few words,” she said. Standing a little over 5 feet, with a small, slender frame and characteristic long, curly tresses, Lluch is one artist who lets her created pieces speak for her.

In her sala is the bust of a harried woman in an Oh-my-God moment, with a mouth forming an “Oh” and with hands raised, clasping both sides of her head. Lluch explained the narrative that went with the terra-cotta sculpture, together with the components that once accompanied the bust when it was first exhibited in the mid-80s.

“It’s name is ‘Picasso y Yo [Picasso and I],” she said, “It has components, all made of terra-cotta. In front of her is the burning fish. The fish is burning and there is a cat who wants to steal it. And then on the other side, the daughter who refuses to eat.

The child is in a Picasso harlequin costume, because Picasso liked to dress his sons in harlequin or clown costumes when they were young.

And then there is a broken cacti in front. This is feminism, when you are up against the patriarchy.”

Feminist images and messages reign in the Lluch household.

In another corner is a bust of a woman hunched over a flat iron.

During the time it was exhibited, an

ironing board took the place of the sofa and the woman was ironing a man’s trousers. The piece is named, “trousers worshippers.”

Lluch sang the lyrics of the Rodgers and Hart 1956 song, “Bewitched, bothered and bewildered,” first rendered by jazz singer Ella Fitzgerald, to express the bust’s accompanying narrative: “Oh, I’ll sing to him. Bring springs to him.

And worship the trousers that clung to him…”

She stopped and said, “Imagine, worshipping the trousers of a man!”

Man in trophy

WITH her past sculptural pieces resonating with feminist messages, observers might find it odd that Lluch chose the image of a man for the Mission: PHL trophy.

A Rodinesque “Adam” stands over the globe, its arms slightly raised forward. Painted in bronze, the trophy is made of cold cast marble—a mixture of resin, fiber glass and marble dust. There are 15 trophies, measuring a foot in length, for the category awards, while three trophies (1 foot and 6 inches each) for the overall awards.

“The mature feminist knows there is no quarrel on trivial matters and doesn’t mind, for example, that the Oblation in UP is male. We are not that small-minded. Though our fight for equality is in rights and opportunities, we know that men and women can never be equal in all things.”

“As the French would say, ‘Vive le difference,’ which means, ‘thank God for the difference’ between the two sexes.

Basically, the feminist clamor is for society’s recognition of the intrinsic humanity in full measure in both male and female. The male figure in the trophy epitomized all humanity,” Lluch elaborated.

She added: “The trophy has the male figure standing on top of a globe.

It is a statement of man’s stewardship of the planet Earth, and his responsibility for the family of nations. Man and Earth. On this delicate balance, depend our survival.”

Humanist

LLUCH further explained that she was inspired by the “humanist

EUROPEAN Union Ambassador Franz Jessen (left) receives the Project of the Year Award for the EU-nominated project: Establishment of Module Recovery Clinics (Voluntary Outpatient-based Medical Treatment Facilities for Drug Users); Ambassador Steven O. Robinson of Austrailia (center) receives the Embassy of the Year Award; and the Japanese International Cooperation Agency, represented by its Chief Representative Yoshio Wada (right), is awarded the Development Aid Partner of the Year.

impetus that compelled the Mission: PHL into being.”

She said that the concept of Mission: PHL is about compassion; the caring for what happens to other nations.

According to Lluch, the male nude, rendered in classical style, is the image of man contemplating the world.

“The call for nations to extend compassionate hands for human development is awesome and giving due recognition to outstanding contributors is a cause for celebration,” she said.

Still active at 73, Lluch said she has rendered quite a few trophies because she carefully selects commissioned work offered to her.

Among her trophy works were those given for the Alfredo Salanga Journalism Awards, as well as some awards for outstanding women artists and women entrepreneurs.

“My favorite is the Maningning Miclat trophy given to outstanding poets and painters aged 28 and below by the Maningning Miclat Art Foundation. As a sculptor, I am challenged to make trophies that are artistic and sculptural in form,” she said.

These days, Lluch is busy with making the bust of President Manuel Quezon for Novaliches. She can be reached at julie. lluch@gmail.com.

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‘Relationships are key’

PROGRAM FOR YOUN

SECOND CHANCE nominated for the Project of the Year, Mission: PHL

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EVELOPED in 2014 by the United States Agency for International Development (Usaid), the Program for Young Parents (PYP): Giving Second Chances to Teen Moms, was one of the projects nominated for Project of the Year at the recent Mission: PHL, the BusinessMirror Envoys&Expats Awards.

As stated in the Usaid’s project brief, PYP uses a holistic approach that provides maternal and child health, as well as family-planning services to pregnant teenagers and teenage mothers while linking them to programs that provide continued education and offer livelihood opportunities.

Usaid developed the PYP as one component of a larger Visayas health project implemented in partnership with the Department of Health (DOH) and Engender Health. Usaid’s Visayas health project works to improve the health of families in the Visayas region through strategic

interventions in maternal, neonatal and child health, nutrition and family planning.

Bryn Sakagawa, Deputy Chief of the Usaid Office of Health, said that the PYP builds upon the work on reproductive health done over many decades by Usaid.

“What this project is really trying to do is work with young people; to help young mothers and their partners, to improve the health of their newborns and to give them an opportunity for their future,” Sakagawa said.

Teenage pregnancies

ACCORDING to a 2017 report of the United Nations Fund for Population Activities (now the United Nations Population Fund), the Philippines has the third-highest adolescent birth rate among 11 Southeast Asian nations, trailing Lao PDR and Thailand.

The National Demographic and Health Survey of the Philippine Statistics Authority (NDHS-PSA) lists half a million Filipino adolescents aged 15 to 19 to have begun childbearing in 2017 alone.

Experts say that early childbearing exposes young mothers and their children to multiple health risks, since the bodies of young mothers are not fully ready for pregnancy and childbirth.

About 10 percent of teenage pregnancies end in miscarriage or stillbirth, while 2.5 percent of these pregnancies result in neonatal deaths.

Early pregnancy and childbirth also pose social and economic risks, such as reduced probability of school completion, and therefore, reduced likelihood of gainful employment.

The UNFPA estimates that early childbearing costs the Philippines some P33 billion annually.

Sakagawa bared that there are some 19 provinces and 13 cities in the country with the highest unmet needs for family planning and the highest incidence of teen pregnancies.

BRYN Sakagawa of USAID. PHOTO BY SARI OSORIO

To address these needs, the PYP has begun implementation in 26 hospitals in the provinces of Iloilo and Negros Occidental in Western Visayas; Bohol and Cebu in Central Visayas; and Northern Leyte, Southern Leyte and Samar in Eastern Visayas.

Usaid helped establish PYP centers in the health facilities where births to women below 19 years old constitute 15 percent of the total, compared to 10 percent to 11 percent at the national level.

How PYP works

THE PYP basically adopted the Teen Moms Program started by the University of the Philippines-Philippine General Hospital (UP-PGH).

It expanded the teenage pregnant mother’s access to quality, integrated maternal and child health, including family-planning services.

Usaid launched the PYP in partnership with select government agencies. Sakagawa said: “With the Program for Young Parents, the first lesson is relationship-building and making sure that we have good trust with key stakeholders, not just with the hospitals, but also with many government agencies because we would not be able to achieve the results that we have unless it’s linked to social services, educational opportunities and also to local governments. So relation-

ships are key.”

Since 2014 the Usaid has partnered with the Department of Health (DOH) to establish 26 PYP Centers throughout the Visayas region that have served over 17,000 young clients.

The DOH mandates that women, aged 19 years and younger should deliver in a hospital capable of providing Comprehensive Emergency Obstetric and Newborn Care (CemONC).

This DOH policy classifies teenage pregnancies as “high risk” and placing teenage mothers in CEmONC hospitals will safeguard their health as well as their infants, thereby reducing maternal and infant mortality.

Through the PYP, health service providers in CEmONC-capable facilities are equipped with the knowledge and skills for dealing with adolescent clients.

Under the PYP, the Usaid engages public hospitals—at the regional, provincial and district levels—that have a high number of deliveries from economically challenged teenage mothers (women below age 19).

The PYP supports these teenage moms in completing antenatal consultations, facility-based delivery, exclusive breastfeeding for at least six months and spacing of the next pregnancy for three to five years through volun-

Expats Awards

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NG PARENTS: GIVING

ES TO TEEN MOMS L, the BusinessMirror Envoys&Expats Awards tary family planning.

In operationalizing the PYP, participating hospitals set up a PYP Team with members from the different departments of the hospital.

The PYP Team then undergoes training to provide adolescentfriendly information and services.

The Team identifies and transforms an area in the hospital into an adolescent-friendly space called the PYP Center. It is the team that prepares the PYP protocol and operates the PYP Center.

Results

FOUR model PYP Centers have been developed to serve as dem-

onstration sites to show interested public hospitals how to establish and operate similar programs in their own facilities.

In 2016 an assessment conducted by the UPecon Foundation and Usaid, through the Health Policy Development Program, concluded that the PYP meets the AdolescentFriendly Health Services standards of the DOH. “The PYP provides a clear link between demand generation strategies and service delivery.

It supports teenage mothers before, during and after delivery at different levels of the health system.”

Sakagawa said that the PYP is a recipient of the 2017 Good Practice

Award of the National Economic Development Authority.

“This is probably one of the most successful reproductive-health programs. Just to be clear, our programs do not focus on population control.

Our focus is really saving lives of mothers and babies. Everything that we do, our entire health program is aligned with the government of Philippines’s objectives. So when you ask what our targets are, our targets are to reach the goals of family planning of the Department of Health. We are really aligned and support the targets of Family Planning 2020, of which many countries are signatories.”

Psyche Roxas-Mendoza

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MISSION: PHL AWARDS

CEREMONY AT SM AURA PREMIER

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EMBERS of the diplomatic corps and development-aid agencies recently gathered at the Mission: PHL, the BusinessMirror Envoys and Expats Awards Ceremony at the Samsung Hall of SM Aura Premier.

During the event, BusinessMirror, together with its partner government agencies, recognized the Embassies and aid agencies’ contributions to the Philippines’ growth and development. It also aimed to express appreciation to the global community.

Embassies, consulates, economic and cultural offices, and aid agencies were acknowledged for their support to the Philippines in the sectors of science and technology, infrastructure, tourism,

environment, transportation, agriculture, education, and trade.

The Embassy of Australia was named Embassy of the Year, and also won the Education of the Nation Award Other Embassy awardees included the Embassy of the United Kingdom of Great Britain and Northern Island for Science, Technology, and Innovation; the Embassy of the United States for the Biodiversity; and the Embassy of Korea for Visit the

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Philippines.

The Embassy of Japan had four category awards including Infrastructure Support Award, Transportation Infrastructure Support Award, Trade and Investment Award, and Agriculture and Fisheries Award. The Delegation of the European Union, on the other hand, got the Project of the Year Award for the Establishment of Model Recovery Clinics (Voluntary Outpatient-based Medical Treatment Facilities for Drug Users.)

The Japan International Cooperation Agency (JICA) was named Aid Agency of the Year and received four category awards: Science, Technology and Innovation Award, Transportation Infrastructure Support Award, Infrastructure Support Award, and Trade and Investment Award.

Other aid agencies were also given recognition during the event: the United Nations Development Program (UNDP) for Biodiversity; World Bank for Agriculture & Fisheries; and the Government of Australia – Department of Foreign Affairs and Trade (GOA – DFAT) for Education of the Nation Award.

Mission: PHL was made possible with eight government agencies. They were the Departments of Environment and Natural Resources, Agriculture, Trade and Industry, Science and Technology, Public Works and Highways, Transportation, Tourism, and Education.

Mission: PHL, the BusinessMirror Envoys and Expats Awards Ceremony is one of the many enriching events at the SM Aura Premier.

1. Department of Foreign Affairs Secretary Teodoro Locsin, Jr.; Business Mirror Publisher T. Anthony C. Cabangon; and BusinessMirror President Benjamin Ramos lead the toast during the Mission: PHL, the BusinessMirror Envoys and Expats Awards Ceremony at the Samsung Hall of SM Aura Premier.

2. H.E. Korean Ambassador Han Dong-Man 3. Department of Education Secretary Leonor Briones 4. Danish Ambassador Jan Top Christensen and Department of Science and Technology Secretary Fortunato Dela Peña 5. (L-R) H.E. EU Delegation Ambassador Franz Jessen; H.E. Australian Ambassador Steven James Robinson; and Yoshio Wada, Chief Representative of the Japan International Cooperation Agency (JICA).

6. BusinessMirror Vice President for Advertising Sales Marvin Estigoy and SM Senior Vice President for Marketing Communication Millie Dizon