BusinessMirror February 16, 2023

SENATORS, EXPERTS AIR CONCERN ON MAHARLIKA

By Butch Fernandez | butchfBM & Cai U. Ordinario | @caiordinario

THE proposed Maharlika Investment Fund (MIF) encountered much opposition at the Senate on Wednesday as minority senators and local economists expressed their misgivings on the creation of the proposed sovereign wealth fund.

The Senate minority exposed what it called serious gaps in the bill creating the MIF, with Minority Leader Aquilino Koko Pimentel III repeatedly expressing hope that “the bill in its current form” will not be approved.

L ocal economists, meanwhile, expressed their fears that should the state mandate government financial institutions (GFIs) to finance the MIF, this could lead to an economic contagion that would endanger the banking sector and compromise the Bangko Sentral ng Pilipinas (BSP).

P imentel aired his views at the second hearing on Senate bills creating the country’s first sovereign wealth fund, along with House Bill No. 6608—whose approval on third and final reading in the House has been questioned in the Supreme Court.

P imentel lamented that at the rate they were replying to senators’ queries, the economic managers do not have a coherent idea for the entire MIF concept, thus turning the hearing into “one expensive public brainstorming.”

Senator Mark Villar, chair of the lead Banks and Financial Institutions committee jointly hearing the MIF measure with three other committees, took note of Pimentel’s concerns and assured the body all the issues raised in the hearings will be thoroughly addressed.

‘Too big to fail’

AT the hearing, Foundation of Economic Freedom (FEF) President Calixto Chikiamco said if investments of GFIs such as the Land Bank of the Philippines (LBP) and the Development Bank

of the Philippines (DBP) in the MIF are guaranteed, this would be tantamount to a moral hazard that can serve as an “incentive for the parties to be reckless.”

With its ability to access guaranteed loans from the GFI and perpetual funding from the BSP, the MIF will become ‘too big to fail’ and pose systemic risk to the economy,” Chikiamco said in a presentation on Wednesday.

T his moral hazard, Chikiamco explained, has led to financial crises such as the 1997 Asian Financial Crisis (AFC) and the 2008 US Financial Crisis which eventually led to the Global Financial Crisis (GFC).

T he 1997 AFC happened when companies assumed that central banks will protect the exchange rate. Knowing this, companies increased their borrowings of dollars.

M eanwhile, Chikiamco explained that the 2008 US financial crisis happened when big banks were initially thought to be “too big to fail.” This created a contagion that spread worldwide.

“ The MIF is highly questionable as a strategy to achieve the government’s stated objectives. This is due to the fundamental flaw that funding of the MIF will not come from significant surpluses from commodity earnings or government operating results,” the FEF, Management Association of the Philippines (MAP) and the UP School of Economics Alumni Association (UPSEAA) said in a joint statement.

See “Senators,” A2

PESO WEAKENS ANEW AFTER HIGHER U.S. INFLATION

THE Philippine peso again weakened against the US dollar following the release of the higher-thanexpected US inflation data on Wednesday.

The peso returned to the P55 level a month after it strengthened to the P54 level.

Data from the Bankers Association of the Philippines (BAP) showed the peso closed at P55.17 to the greenback.

The peso opened at P54.95 to the dollar. It was at its strongest at P54.95 to the greenback and was at its weakest at P55.23 on Wednesday’s trading.

“ We think its more about the higher-than-expected US inflation print last night. The surprise print meant the US Central Bank isn’t about to end its rate hikes, quite the opposite of what our foreign exchange market traders have been anticipating since late 2022,” BPI Chief Economist Emilio S. Neri Jr. told BusinessMirror R eports stated that inflation in the United States rose 6.4 percent in January 2023 while month-on-month inflation increased 0.5 percent.

The US Federal Reserve earlier aimed to raise interest

rates to combat inflation and bring it down to 2 percent. The Federal Open Market Committee (FOMC) recently raised US interest rates by 50 basis points.

I n the Philippines, Managing Director of eManagement for Business and Marketing Services, Jonathan Ravelas told this newspaper that the market seems to be expecting a 25 bps hike by Bangko Sentral ng Pilipinas(BSP) this Thursday (February 16).

[This is] despite recent developments in domestic inflation and the Federal Reserve officials saying interest rates may need

to move to a higher level than anticipated to ensure inflation continues to fall, after fresh data showed prices rose at a brisk pace last month,” Ravelas said.

The Monetary Board will conduct its first policy rate meeting for the year on Thursday. BSP Governor Felipe M. Medalla earlier said that jumbo rate hikes or 75 basis point increases were already off the table for 2023.

In January 2023, the Philippine Statistics Authority (PSA) reported that inflation averaged 8.7 percent. The BSP’s target is to bring down inflation to 2 to 4 percent by next year. Cai U. Ordinario

Remittances up 3.6% in ’22, slowest full-yr growth since ’20

REMITTANCES sent by over -

seas Filipinos may have grown due to the need of their families to cope with high inflation and be merry during the Christmas holidays in December, according to local experts.

The Bangko Sentral ng Pilipinas (BSP) full-year 2022 cash remittances coursed through banks amounted to $32.54 billion, up by 3.6 percent from the $31.42 billion recorded in 2021. However, this is the slowest full-year growth recorded since the onset of the pandemic in 2020.

In December, cash remittances coursed through banks grew by 5.8 percent to $3.16 billion in December 2022, from $2.99 billion registered in the same month in 2021.

“ It’s double purpose, I think. One is to fight off the effects of higher prices and to maintain the ‘happiness’ surrounding the holidays. We all know how Pinoys are when they have money to spend especially if this December has been the ‘most open’ December in the last three years,” Unionbank Chief Economist Ruben Carlo O. Asuncion told BusinessMirror

RCBC Chief Economist Michael Ricafort agreed and said guidelines released by the government that eased restrictions, such as voluntary wearing of face masks outdoors, have contributed to the confidence of Filipinos to spend and be merry in December 2022.

The increasing trend in remit-

tances is expected to continue as high inflation would prompt millions of Overseas Filipino Workers (OFWs) to send more to their families in the Philippines to help them cope with rising prices.

However, Ricafort said risks or headwinds such as higher prices in host countries for OFWs could potentially reduce OFWs’ disposable income and limit the country’s remittance inflows this year.

E xecutive Director Jeremaiah M. Opiniano of the Institute for Migration and Development Issues (IMDI) agreed with this and said major economies of the world will experience a recession this year which could make life harder for OFWs abroad.

“ Filipinos abroad and the Philippine government must brace themselves for possibly lower levels of cash remittances once again. Bracing for these developments also means not forcing Filipinos abroad ‘to again save the day’ at the risk of their overall welfare,” Opiniano told BusinessMirror in an email.

O piniano said it is hoped that new ways of making remittances work for Philippine development will be crafted by the government. He said the sector is awaiting the Department of Migrant Workers launch of “a rejigged OFW reintegration program.”

He added that recent develop -

ments such as remittances being used to open small and medium enterprises (SMEs) could create new avenues for the use of remittances as well as savings and financial investment products for OFWs.

Opiniano said more digital finance platforms and not just remittance channels that direct Filipinos abroad to varied investible schemes could also be created as well as greater involvement from rural banks, cooperatives and microfinance institutions across the country.

Remittances

THE BSP said the growth in cash remittances in 2022 was driven

“Filipinos abroad and the Philippine government must brace themselves for possibly lower levels of cash remittances once again. Bracing for these developments also means not forcing Filipinos abroad to again save the day at the risk of their overall welfare.”—Jeremaiah Opiniano, executive director, Institute for Migration and Development Issues See “Remittances,” A2

WELCOME! The Department of Tourism led in welcoming the arrival of the Silver Spirit cruise ship at the Eva Macapagal Super Terminal-Manila South Harbor on Wednesday, February 15, 2023. The passenger ship is traveling from Singapore en route to Thailand, Vietnam and the Philippines particularly in Ilocos, Romblon and Coron, Palawan, and will proceed to Hong Kong on February 26, 2023. The ship has 300 foreign passengers and 400 Filipino crew. The Philippines was cited this week as having recovered its status as key destination for cruise ships. NONIE REYES

Wider farm items’ access drives PJEPA review bid

By Andrea E. San Juan

Remittances…

by inflows from the United States, Saudi Arabia, Singapore, Qatar, and the United Kingdom.

In terms of country sources, the US posted the highest share of overall remittances in 2022, followed by Singapore and Saudi Arabia.

For PJEPA, we’re still trying to schedule the next general review. But we have a lot of offensive interest in agriculture. Especially given the strong request for greater access of banana growers in Mindanao and pineapple [producers],” said DTI Special Trade Representative (STR) for Philippine Trade and Investment Center (PTIC) in Tokyo, Bernardita A. Mathay, speaking partly in Filipino. She

gave reporters a virtual media briefing on Tuesday.

Mathay stressed the country’s need to have bigger access for agricultural products. However, Trade officials said matters related to the trade deal will be brought up in the general review of the PJEPA.

A s for access for the country’s bananas, Mathay explained, “We’re trying to remove the seasonal tariffs of our banana exports to Japan because right

now we’re losing market share because of the entry of let’s say, Ecuador bananas, etc.”

W hat they wanted to do, the trade representative said, was “implore [with] them, the retail players to increase the price of bananas, which hasn’t moved in the last 15 years.”

But, Mathay said, at the end of the day, that is a “market supply and demand decision.”

The trade representative said the Philippines is exporting

Cavendish bananas to Japan. The Philippines is exporting regular pineapples to Japan, Mathay said, adding that the country’s “doing very well there.”

A ccording to the DTI website, PJEPA is the first bilateral free trade agreement of the Philippines. The trade deal was signed in Helsinki, Finland by then-President Gloria MacapagalArroyo and former Prime Minister Junichiro Koizumi on September 9, 2006.

Senators....

Continued from A1

Giving the GFIs a statutory guarantee for its lendings to the MIF will open the sizable liquidity of the LBP and the DBP. However, it creates no incentive for diligence, since the risk is passed as a contingent liability entirely to the NG [national government],” they added.

The FEF, MAP, and UPSEAA also said that sourcing financing for the MIF through the BSP would also amend the central bank's mandate, particularly in promoting monetary stability.

O btaining MIF funds from BSP, the economists said, would deprive it of its ability to manage liquidity and inflation as well as help distressed financial institutions. It will also compromise the BSP’s autonomy and independence.

The BSP has consistently been viewed as among our most effective and trusted institutions, which has been key to our economic stability. The MIF could put such effectiveness and trust at risk,” FEF, MAP, and UPSEAA said.

“ Weakening the BSP will reduce its ability to fulfill its primary purposes, and relying on the BSP’s dividends will engender systemic risks,” they also said.

Tap other sources

BUT if the government is bent on creating such a fund, the FEF recommended that raising funds for the MIF should be done through revenues earned by the government from its privatization efforts.

Chikiamco said the government’s plans to privatize the Philippine Amusement and Gaming Corporation (Pagcor), the Ninoy Aquino International Airport (NAIA), and the privatization of the Muntinlupa property of the Bureau of Corrections, among others.

I n earlier hearings, Finance Secretary Benjamin Diokno had said that proponents have a viable list of assets for sale or privatization which can be tapped to seed the MIF.

T he Philippine Senate concurred in the ratification of the PJEPA on October 8, 2008 and the Agreement officially entered into force on December 11, 2008, DTI noted. The PJEPA covers, among others, trade in goods, trade in services, investments, movement of natural persons (MNP), intellectual property (IP), government procurement (GP), competition and improvement of business environment (IBE).

DTI said upon PJEPA’s entry of force in 2008, the balance of trade “gradually” improved in favor of the Philippines.

U nder the PJEPA General Review, DTI said the Philippines is “continuously” pursuing its offensive interest in improving market access through tariff elimination or reduction for fresh bananas and pineapples, fish products, among others; improvement of rules of origin (ROO) for major export products; and creation of a framework for the entry of additional categories of skilled Filipino workers to Japan.

GFIs questioned

ALSO at Wednesday’s hearing, Senator Sherwin Gatchalian called out the Land Bank of the Philippines for its readiness to plunk in P50 billion of its investible fund to seed the MIF, when, he noted, most or “95 percent” of the LBP’s investments were in government securities, among others, indicating it was “risk-averse.” Gatchalian asked LandBank whether the state depository bank consider such a risky investment in a still untested vehicle like the Maharlika fund?

L BP president and CEO Cecilia Borromeo earlier allayed concern by the Foundation for Economic Freedom that there will be “opportunity cost” for government financial institutions like LBP and DBP because funds that could have been used to lend to farmers, for instance, would be invested instead in MIF.

V illar asked her to address this question, and Borromeo assured the senator that the P50 billion that LBP will pour into the proposed MIF is “part of our investible funds,” or money that is “net of the loans we give to clients.” She noted that in all, LBP has P1.3 trillion in investible funds, so putting P50 billion into MIF does not constitute a major risk to stability nor will it represent an opportunity cost.

A lso in the hearing held jointly with the Committees on Ways and Means, Government Enterprises, and of Finance, senators grilled central bank officials on their seeming flip-flop in earlier pressing Congress to help them shore up the capitalization of the Bangko Sentral ng Pilipinas (BSP), yet now see no problem in parting with BSP dividends, thus delaying the capital buildup plan.

Senators Sherwin Gatchalian and Nancy Binay raised this matter of delaying the capital buildup. However, Deputy Governor Francisco Dakila Jr. explained that there will only be a “slight delay” in the capitalization program and this will not weaken the BSP’s ability to respond to occasions when it is mandated to intervene. Moreover, under RA 7653, the BSP is already mandated to remit portions

In December, BSP said the growth was driven mainly by receipts from land- and sea-based workers.

Meanwhile, the data also showed that personal remittances from Overseas Filipinos, which included non-cash remittances, reached an all-time high of $36.14 billion. This level was 3.6 percent higher than the $34.88 billion remittance flows in 2021.

The robust inward remittances reflected the increasing demand for foreign workers amid the reopening of economies. The full-year 2022 level accounted for 8.9 percent and 8.4 percent of the country’s Gross Domestic Product [GDP] and Gross National Income [GNI], respectively,” BSP said.

I n December, personal remittances recorded a high of $3.49 billion, a 5.7-percent increase from the $3.3 billion posted in December 2021.

The BSP said the increase in personal remittances in December 2022 was due to higher remittances sent by land-based workers with work contracts of one year or more and sea- and land-based workers with work contracts of less than one year. Cai U. Ordinario

of its dividends to the national government. Thus, “essentially, the dividends belong to the national government.”

C ongress has the power to legislate allocation of dividends accruing to the national government, he added.

Options

THE local economists recommended that instead of the creation of the MIF, the government should explore the creation of other organizations that would boost the agriculture sector and/or help the country combat climate change.

A development financial institution such as the National Development Corporation, which helped in the lease of tracts of land for the banana and pineapple industries, should be looked at. The FEF also said the MIF can be structured as a green investment fund.

I n his proposal, FEF coFounder and Vice-chairman Romeo Bernardo said the MIF could become the Maharlika Green or Climate Investment Fund which can source financing from domestic and foreign investors for projects that will help the country meet its climate targets. I n January, the President announced that private money may be used for the proposed MIF, but gave assurances that safeguards will be in place so it cannot be used for money laundering.

Marcos made the remarks amid concerns by some lawmakers that the MIF can be misused or could drain the government of much-needed funds.

He said the use of the fund will be project-specific to ensure it will be properly used.

D uring the interview, he also explained that the MIF, which will be created via a new law, will only serve as “seed fund” for the country’s sovereign wealth fund.

T he President also stressed that he is lukewarm to the proposal made during the 2023 World Economic Forum last week that funds from government-owned and -controlled corporations (GOCCs) be used to finance the MIF.

THE Department of Trade and Industry (DTI) said it is still trying to schedule the next general review for the PhilippinesJapan Economic Partnership Agreement (PJEPA), noting that the country has a lot of “offensive interest” in agriculture.

HOUSE Speaker Martin Romualdez wants to ensure the preparedness of the government, especially the first responders, should a strong earthquake hit the country, especially in Metro Manila.

According to experts, thousands will be victims of the said earthquake like what happened in Turkey and Syria, if we are not prepared.

Romualdez said, “ We want to find out if we are really ready at ano ang dapat gawin ng publiko.”

Na-experience na kasi natin ito during Yolanda na yung mga firstresponders naging biktima ng nasabing delubyo,” he added.

“Sino ang papalit sa kanila, do we have enough equipment to dig through rubbles o may sapat ba na food packs ang gobyerno sa libu-libong maaapektuhan ng lindol na ito,” the lawmaker from Leyte said.

Last Monday, Turkey Ambassador Niyazi Aykol went to Congress to accept Romualdez’s personal donation of $100,000 for the victims of the earthquake in the said country.

A mbassador Aykol told Romualdez that they had known for 20 years that a strong earthquake would hit their country but they never thought it would be this strong.

T hat’s why Romualdez wants to know how strong an earthquake or intensity, the National Capital Region (NCR) can handle, and how many are the projected casualties.

T he Speaker intends to summon all disaster agencies and first responder units to find out if the government has an operational plan.

He asked, “Do we have enough equipment and manpower? Kasi very critical ang first 24 hours. Kasi if we don’t have then let’s prepare and anticipate.”

“ We really have to be ready from rescue to medical attention and food distribution,” he said.

“Siyempre before anything else, kailangan malaman din natin kung gaano katibay ang mga building at istraktura natin,” he added.

Romualdez said, “Dito sa ipapatawag nating pulong malalaman natin gaano tayo ka-ready para maiwasan ang napakaraming casualties.”

The Nation

3 Surigao policemen tagged in Spanish businessman’s killing in 2020 surrender

By Joel R. San Juan @jrsanjuan1573

THE Department of Justice (DOJ) on Wednesday said the trial of the three policemen charged with murder for their alleged involvement in the killing of Spanish businessman Diego Bello Lafuente can now proceed following their surrender to the Philippine National Police (PNP).

T he policemen identified as Police Capt. Wise Vicente Panuelos, Police Sgts. Ronel Pazo and Nido Boy Cortes were presented to Justice Secretary Jesus Crispin “Boying” Remulla by Police Brig. Gen. Romeo Caramat on Thursday, February 9. T he accused have gone into hiding

following the filing of murder charges and the issuance of arrest warrants against them by the Regional Trial Court of Surigao del Norte.

During their brief meeting, Remulla asked the policemen for an account of the events leading up to the killing of Lafuente.

He also informed them of the gravity of the case they are facing considering the international attention it has garnered.

With the surrender of the accused, Remulla said, the courts will now have jurisdiction over them, and will be able to continue the trial of Lafuente’s case.

This is a very welcome development in this case. We are now able to move forward and try the case

and deliver justice in a case that has transcended borders,” Remulla said.

L afuente’s death took place in 2020 at the height of the bloody anti-illegal drug war of the Duterte administration.

T he government of Spain, through its Office of the Consult General in Manila, pushed for a deeper probe into Lafuente’s death, prompting  the National Bureau of Investigation (NBI) to take over the case.

In November 2021, the NBI recommended to the DOJ the filing of murder, planting of evidence and perjury charges against the three policemen who were then assigned at the General Luna Municipal Police Station (MPS), Siargao Island in Surigao del Norte.

Based on the  NBI’s investigation report, operatives from the General Luna MPS led by Panuelos, and members of the 1302nd Regional Mobile Force Battalion 13 met on January 7, 2020 to plan the buybust operation against Lafuente after an informant claimed he was able to buy cocaine from him.

L afuente was reportedly tagged by the General Luna MPS as the no.1 drug personality in the Caraga Region.

In the operation, Pazo was designated as the poseur buyer, while Cortes would be the arresting officer/ searcher.

A ccording to the accounts of witnesses, in the early morning of January 8, neighbors of Lafuente

were awakened by a series of loud explosions, which were believed to be gunshots.

A fter the gunshots, it was only then that they heard someone warning people not to go out as a buy-bust operation was in progress. Witnesses said they later saw Lafuente’s body being carried by four men from over the perimeter wall toward an ambulance.    Based on reports, police operatives were able to recover from the scene 10 grams of cocaine, marked money worth P30,000 and a caliber.45 pistol. L afuente was brought to Siargao Island District Hospital but was declared dead on arrival by the attending physician.

BI nabs 4 Korean fugitives in Pasig and Pampanga ops Rep. Verzosa pushes food, transpo stipend for adult 4Ps beneficiaries on skills

training

THE Bureau of Immigration (BI) on Tuesday announced that its intensified campaign against undesirable aliens in the country resulted in the arrest of four South Korean fugitives allegedly involved in telecom fraud and other serious crimes.

T he four South Koreans, who were arrested on separate occasions by the BI’s Fugitive Search Unit (FSU), were identified as Chun Junghoon, 39; Kim Jingsuk, 44; Park Geon Jin, 34;  and Park Kyoungtae, 40.

“ We are in the midst of an intensified campaign to flush out these wanted foreigners who are using the country as a refuge to elude arrest and prosecution for crimes they committed in their homeland,” BI Commissioner Norman Tansingco said.

Chun, according to the BI, has been on its wanted list since 2020 when he was ordered deported by the BI Board of Commissioners.

On February 1, Chun was finally arrested by immigration authorities at San Antonio Village in Pasig City.

He has a standing warrant of arrest issued by the Busan district court in January 2020 for working as a telemarketer for a telecom fraud

syndicate that duped their victims nearly $3,000 through voice phishing.  Meanwhile, Kim was arrested last February 4 in Barangay Anonas, Angeles City, Pampanga.

He is wanted in South Korea for embezzling around $300,000 from his employer by illegally selling 1,300 tons of imported coal from Russia. Park, who is facing trial in Seoul Seobu District Court, was arrested on the same day in Pampanga.

He has been tagged as a member of a voice phishing organization, which has reportedly amassed 7.65 million Korean won from their operation since 2018.

Last February 8, BI operatives arrested  Park Kyoungtae in Angeles City.

He is facing trial   in Busan for illegally operating a gambling web site since 2020, and generating revenues through online bets.

T he four aliens are now detained at the BI warden facility at Camp Bagong Diwa in Taguig City pending deportation.

“ They will also be placed in our blacklist, thus banning them from reentering the country,” Tansingco said. Joel R. San Juan

By Roderick L. Abad @rodrik_28 Contributor

FOLLOWING the recent approval of the substitute bill expanding the Pantawid Pamilyang Pilipino Program (4Ps), Tutok To Win party-list Rep. Sam Verzosa Jr. bared that they are pushing for additional help to adult recipients of this government initiative.

“Madagdagan pa lalo ’yung suporta namin don sa mga nakakatanggap ng 4Ps [We will increase our support to recipients of 4Ps],” he told the BusinessMirror in a sideline interview during the media launch on Tuesday of his new public service show, “Dear SV,” on CNN Philippines.

Verzosa said they are proposing for an extra conditional cash grant of P500 to be given to those who will undergo skills training through nonformal education, employment, and entrepreneurship courses.

“Kapag ginawa nila yan, bibig’yan natin sila ng allowance—[sa] pamasahe’t pagkain [Once they do that, we will give them an allowance for fare and food],” he said.

T he lawmaker led the deliberations of the Technical Working

PRC appeals for donations for Turkey quake victims

By Claudeth Mocon-Ciriaco @claudethmc3

THE Philippine Red Cross (PRC)

appealed to Filipinos on Tuesday to help the people of quakehit Turkey them thorough donations following a devastating 7.8-magnitude earthquake on February 6.

No less than the Embassy of the Republic of Turkey asked the PRC to assist in the donation efforts.

On Tuesday, the House of Representatives swiftly responded to the call with a donation of P10 million that was personally received by PRC Chairman and CEO Richard J. Gordon at the Batasang Pambansa.

In accepting the donation, Gordon noted that it is fitting that one of the first to answer the call for the Turkey appeal is the House of Representatives, led by Speaker Ferdinand Martin G. Romualdez.

Romualdez is from Leyte, the province that was badly hit by Haiyan in 2013. During that time, Turkey was the first to send aid to the Philippines.

This donation from Congress is a very important gesture to show Türkiye our solidarity as they showed us

THE Clark Development Authority Corporation (CDC) clarified on Wednesday that it did not impose a P200 monthly fee for

in Haiyan. The donation is critical, especially during this time because this is the coldest time of the year for the affected regions,” Gordon said. He added: We cannot begin to

imagine what our Turkish brothers and sisters are going through, those who survived the quake and are left without shelter out in the cold facing freezing conditions.

Gordon was accompanied by PRC Governors Carissa Coscolluela and Rachel Arenas during the simple turnover ceremony at the House of Representatives.

Group of the Committee on Poverty Alleviation on the substitute bill, titled: “An Act Promoting Inclusive Education, Entrepreneurship, and Employment for Sustainable Development among 4Ps Adult Beneficiaries,” which was green lighted by the panel last February 7.

A spin-off of House Bill (HB) No. 2422 filed by Parañaque Second District Rep. Gus Tambunting and HB No. 4366 by Agri Party-List Rep. Wilbert Lee, amends the purpose of Republic Act No. 11310, otherwise known as “An Act Institutionalizing the Pantawid Pamilyang Pilipino Program [4Ps].”

Shortly called the “Expanded Pantawid Pamilyang Pilipino Program [4Ps] Act,” the substitute bill is expected to create education, entrepreneurship, livelihood, and economic opportunities for the beneficiaries of 4Ps considered the “poorest of the poor” nationwide.

Per the latest Philippine Statistics Authority data, the country’s gross domestic product increased by 7.6 percent in 2022—the second highest growth rate after the 8.8 percent recorded in 1976.

A mid this development, how -

ever, the representative of Tutok To Win Party-list noted that there are Filipinos who still live below the poverty line.

T hat’s why he was appreciative of the committee for their approval of the Expanded 4Ps law, which aims to increase the number of 4Ps recipients and to provide skills training to adult beneficiaries via its non-formal education, employment, and entrepreneurship tracks.

At present, there are approximately 4.2 million individual 4Ps recipients. Apart from monetary assistance, it will also give postskills interventions to help adult beneficiaries in their jobs search or business endeavors.

“Ngayon, gusto natin magkaroon ng alternative learning systems, magkaroon ng livelihood programs, at magkaroon ng mga programa para sa employment [Now, we want to have alternative learning systems, livelihood programs, and employment programs],” Verzosa Jr. said, while citing that these could be of help to them to eventually fend off for themselves rather than depend on dole outs from the government.

Army men in Davao bizwoman slay charged in military court

PHILIPPINE Army (PA) com-

mander Lt. Gen. Romeo Brawner Jr. on Wednesday said copies of the charges have already been served to the two ranking officials implicated in the murder of businesswoman and model Yvonette Plaza in Davao City last December 28.

The pre-trial investigation is still ongoing and we [have] already [given] a copy of the charges to both [Brig.] Gen. [Jesus] Durante [III] [formerly of the 1001st Infantry Brigade] and Col. [Michael] Licyayo and they have given their counter-affidavits already,” Brawner said in an interview with reporters.

So our Provost Marshal and our Judge Advocate in the PA are [now] studying the affidavits of these two respondents,” he added.

T he two are charged in the military court for violating Articles of War 96 and 97. Article 96 is known as “Conduct Unbecoming an Officer and a Gentleman,” while Article 97 refers to “Conduct

delivery riders within the Clark Freeport Zone. “ The Clark Development Corporation would like to inform the public that this

information is false and has no basis in fact or form. CDC did not issue and approve such imposition and will not, in any way, collect additional fees from

delivery riders entering and exiting the free port zone,” CDC said in a news statement.

T he CDC added, “Our Security Services Group [SSG], particularly,

the Public Safety Division, is now conducting further investigation on this matter.”

CDC recognizes the delivery riders’ dedication to service and

Prejudicial to Good Order and Military Discipline.”

Conviction under Article of War 96 will result in the dismissal of the guilty party from military service. Those found guilty of violating Article of War 97 shall be tried by court martial and punished at the discretion of the court.

He also said it is possible that other charges could still be filed against the suspect officers and enlisted personnel involved.

E nlisted personnel implicated in the case were identified as Staff Sgt. Gilbert Plaza, Corporals Adrian Cachero, Rolly Cabal and Romart Longakit. Also tagged were a certain “Alias Jr.” and “Alias Master Sergeant.” “ Basically these are the Articles of War 96 and 97 but there might be other charges also not just against these two officers but also against the enlisted personnel, so we are still in the phase where [we] are conducting the initial investigation or pre-trial investigation,” the PA chief added. PNA

free port zone

their contribution to enhancing the experience of our guests, visitors, residents, and employees within the free port zone,” the CDC statement added.

Romualdez seeks to ensure preparedness for ‘big one’

PRC Chairman and CEO Richard Gordon personally receives a check amounting to P10 million from House Speaker Ferdinand Martin G. Romualdez.

CDC clarifies: No ₧200 monthly fee imposed on delivery riders within

PHL exhibition industry poised for strong recovery in ’23, WTCMM CEO Pascual says

By Andrea E. San Juan

The exhibition industry is well on its way to recovery in 2023,” said

WTCMM Chairman and CEO Pamela

D. Pascual.

In a news statement issued on Wednesday, WTCMM noted that one of the hardest hit industries during the pandemic is MICE (Meetings, Incen-

tives, Conferences and Exhibitions).

All booked trade shows and events for two years were temporarily discontinued and created a huge cloud of uncertainty on when these could be staged in a safe environment,” Pascual said.

But the CEO of the major exhi-

bition venue stressed that the year 2022 showed “optimistic indicators that point to restored market confidence and renewed vigor among stakeholders to go back to the exhibition floor.”

W ith this, WTCMM said it is expecting its business operations to recover in a “robust” manner with pre-pandemic business coming back “strongly.”

T he WTCMM recalled that 2022 was a “good start,” adding that the different types of events that were staged last year helped boost the confidence of stakeholders to resume their plans.

This is why WTCMM’s utilization level increasingly grew from the first half of the year and accelerated towards the second semester,” WTCMM said.

W TCMM added it anticipates more foreign organizers staging their shows in the country in the coming years.

Moreover, with the loosened international borders, it said an increase in foreign exhibitor companies is believed to be once again taking up spaces in locally organized shows.

According to the exhibition venue, approximately 30 percent, if not more, of exhibition spaces are taken up by foreign companies in exhibitions held in the country.

“High-powered” industries such as construction, heavy machinery, agriculture, automotive, retail, food, and packaging among others supported by exhibitions and trade events have found a home in WTCMM, the major exhibition venue stated.

Meanwhile, the CEO of WTCMM said the exhibition industry is a

“vehicle” to promote domestic and international trade.

“ When the Philippines hosts local and international exhibitions, the country benefits from increased tourist and trade arrivals which promote a circular economy through increased consumer spending for accommodations, dining, shopping, tours, etc. Increased trade receipts, on the other hand, benefit employment,” the WTCMM statement added.

W TCMM said it will continue to strengthen its leadership role in the exhibition industry in the country, not only by maintaining internationally accepted standards of its facilities and services, but also realize its plan to increase its space inventory by expanding the exhibition halls to address the strong clamor from the local and foreign markets.

Palace urged to widen scope of EO on EV tax incentives

By Rizal Raoul S. Reyes @brownindio

APRO-CONSUMER group on Wednesday urged the administration of President Ferdinand R. Marcos Jr. to widen the coverage of Executive Order No. 12 by granting incentives to two and three wheeled electric vehicles (EV), stressing EVs would benefit more Filipinos, and not just those who can afford to acquire four-wheel cars.

L ouie Montemar, co-convenor of Bantay Konsyumer, Kalsada, Kuryente (BK3), said EO 12 issued by the Palace last month should be amended so that the tax breaks given to owners of EVs could be enjoyed by Filipinos from the working class.

“ The current EO is discriminatory because it covers only four-wheeled vehicles. It does not cover the majority of the working class, many of whom use two and three-wheeled vehicles, or even public utility jeepneys,” he said.

We have to correct this injustice. Those who are already given tax perks are vehicle owners from the AB socioeconomic bracket. Meanwhile, millions use their two or threewheeled vehicles to go to and from work or school. These are the people who are acutely feeling the pinch of higher prices of fuel and other commodities against their limited income,” Montemar explained.

Montemar pointed out that an amended EO would enable the government to encourage consumers to shift consumers away from their dependence on fossil fuels.

“ The zero import tax incentive for five years will allow more consumers to consider better and more environmentally-friendly alternatives,” he said.

Experts have warned that motorcycles are also significant contributors to air pollution, and number almost half of the 2.9 million registered vehicles plying the streets of Metro Manila.

Motorcycles are popular because they are an affordable option to get from Point A to Point B, but with government data showing over 7 million motorcycles in the country, is there a substantial environmental cost?” Montemar asked.

Tax breaks for electric two or three wheeled vehicles would create an incentive for Filipinos to make healthier, cost effective, electric vehicles, which I believe is the more responsible choice,” the BK3 official added.

There is a growing demand for electrically powered motorcycles given their cost-effectiveness and their sustainability and is a step in the right direction as we struggle to address and mitigate the risks of climate change,” Montemar said.

THE Intellectual Property Office of the Philippines (IPOPHL) has announced the issuance of the revised rules and regulations on trademarks, service marks, trade names and marked or stamped containers.  R eplacing the revised trademark regulations of 2017, IPOPHL said the new rules under Memorandum Circular (MC) 2023-001 prepared by the Bureau of Trademarks (BOT) took effect on Tuesday, February 14, 2023.  “ MC 2023-001 institutionalizes the protection of non-traditional visual marks. With this, IPOPHL is now clear with the acceptability of color marks per se, motion marks, position marks and hologram marks,” IPOPHL Director General Rowel S. Barba said.

According to IPOPHL, the amendments list down “acceptable” representations of non-traditional marks, particularly drawings that depict a series of movements.

I POPHL said the circular also specifies that applications should include only one drawing representation in a “single-perspective” view if the mark sufficiently depicts all features.

“

The draft rules also recognize that color marks, 3D marks, position marks and motion marks may be filed as long as the marks portray an acquired distinctiveness as defined under the IP Code of 1997,” IPOPHL said in a news statement issued on Wednesday.

Moreover, the agency said the amendments also formally implement the mandatory online filing that has been in place since September 2020.

All communication with the BOT shall now be transmitted via online platforms e-TMFile and eDocFile for Trademarks while messages coming from the BOT will be transmitted via e-Correspondence,” IPOPHL said.

This means, the agency noted, that the trademark applicants or their appointed agent/representative shall be required to ensure that their email address is updated in the system.

I POPHL said it may provide an exception in receiving physical documents or hard copies under “exceptional” circumstances, such as natural calamity and prolonged system downtime, or the director general may decide.

The new rules help us in our goal of fully transforming IPOPHL into a future-ready, digital agency that is mindful of sustainability and its environmental footprint,” Barba said.

We know the sentiments of our stakeholders. For those who are filing trademark applications, we included provisions that will streamline our processes. To do so, especially in the digital age, we can now make efficient use of technology,” BOT Director Jesus Antonio Z. Ros said.

A ccording to IPOPHL, the amendments are designed to support its six-point BRIGHT Agenda, which it said instills the goals to transform IPOPHL into a “fullydigitized” agency and raise the ante for customer service.

Meanwhile, in a separate issuance, namely, MC 2023-002, IPOPHL said the trademark bureau also introduced the amendment on its fee structure. With this, the publication for opposition fee shall now be paid together with the filing fee.

“ The new payment arrangement will further streamline the trademark registration processes and minimize abandonment of applications due to non-payment of publication fees, making the amendment favorable to applicants, particularly MSMEs [micro, small and medium enterprises],” IPOPHL said.

In the previous rule, the agency said the publication fee is paid once the application has been examined and allowed for publication in the Gazette for purposes of opposition. All trademark-related fees, however, remained unchanged, IPOPHL said.

THE Philippine exhibition industry is poised for a “strong comeback” this year, according to the World Trade Center Metro Manila (WTCMM), a major exhibition venue in the Philippines.

IPOPHL: Revised trademark rules take on Feb. 14

MRT 3 logs highest daily ridership at 408,259 since Covid-19 pandemic

THE Metro Rail Transit Line 3 (MRT-3) continues to log a record number of riders and has since reached 408,259 passengers on Tuesday, the highest number of passengers in a single day since the rail service resumed operation in June 2020. In a Facebook post on Wednesday, the MRT-3 noted an increase in daily ridership in February, with a record 400,182 daily passengers on February 1, then surpassed by 403,128 passengers on February 8.

“Mayroong average na bilang na 18 train sets na tumatakbo sa mainline tuwing peak hours [There is an average of 18 train sets running in the mainline during peak hours],” it said.

T he MRT-3 was also recognized by the Inter-Agency Council for Traffic (I-ACT) on Monday and awarded the “Tapat na Lingkod [faithful service]” award for providing “safe and reliable” transportation amidst the Covid-19 pandemic.

The I-ACT recognized the big contribution of the MRT 3 that allowed commuters of the Edsa Busway to use facilities of the rail service for an effective and affordable transportation system,” the MRT 3 said in Filipino.

T he I-ACT’s award ceremony, entitled “Pagpaparangal sa mga Dakilang Lingkod Bayan [Recognizing Great Public Servants],” was held at the SM Mall of Asia in Pasay City on Monday. PNA

Fruit of PBBM’s Japan visit: DICT and MIC sign accord for ICT devt

By Lorenz S. Marasigan @lorenzmarasigan

THE Department of Information and Communications Technology (DICT) said on Wednesday it signed a memorandum of cooperation (MOC) with its Japanese counterpart to “encourage and strengthen cooperation, and to accelerate development, enhancement, and integration in the field of ICT.”

T he digital cooperation between

the DICT and the Ministry of Internal Affairs and Communications (MIC) of Japan aims to drive improvements in broadband infrastructure and service provision in the Philippines.

The Philippines, through the DICT, has reinforced its cooperation in the field of ICT with Japan. The Philippine Government and the Government of Japan have a long history of collaboration and the signed MOC will only strengthen our cooperative efforts. As a developing country, we

BCDA and Japan’s NEDO ink pact for smart mobility project

THE Bases Conversion and Development Authority (BCDA) and the New Energy Industrial Technology Development Organization (NEDO) of Japan has inked an agreement for a three-year demonstration project on smart mobility solutions to be implemented in New Clark City (NCC).

B CDA and NEDO signed on Friday a memorandum of understanding for the implementation of the project.

A ccording to BCDA, the signing between BCDA President and Chief Executive Officer Aileen R. Zosa and NEDO Executive Director Dr. Shuji Yumitori was witnessed by President Ferdinand R. Marcos Jr., along with other top government officials.

T he occasion was part of the President’s business missions during his five-day official visit to Japan, BCDA said.

The demonstration project will be executed by a group nominated by NEDO, led by Zenmov Inc., a Japan-based information technology [IT] solutions provider specializing in the transportation sector, to measure and verify the ‘effectiveness’ of a transport service system that operates via a cloud-based technology platform,” BCDA said.

T he BCDA added that the demonstration project would come at no cost for the Philippine government, adding that NEDO and Zenmov are committing to finance the project.

For her part, Zosa said the partnership would help advance the transportation and connectivity in the Central Luzon region.

In keeping with our goal for the NCC to become a green, sustainable and inclusive city, we have partnered with Japan’s NEDO and Zenmov to help BCDA in developing advanced and innovative solutions to improve transportation services and connectivity in this

region,” the BCDA president said.  “ We can definitely learn a lot from this sharing of technologies and expertise that our Japanese partners have relating to the advancement of their transportation sector,” Zosa added.

T he BCDA president added that through the study’s findings, the BCDA could also develop solutions to “better optimize” energy use, minimizes pollution and lower carbon footprint, and manages congestion and other traffic-related issues.

F urther, BCDA said under the demonstration project, a new pub -

lic transportation system called “Primary Rapid Transit [PRT],” an energy-efficient and convenient “last mile” service will run using the Smart Mobility Operation Cloud (SMOC).

T he SMOC, Zenmov’s cloudbased fleet management system, maximizes operational availability, while keeping the number of vehicles at a minimum by managing a “lean dispatching” system based on travel demand data, BCDA said.

T he BCDA also noted that this would be complemented by more “energy-efficient, low-carbon, and

Senate leaders send strong push for RCEP

The very sensitive agricultural products are excluded from the Philippines’s tariff commitments in RCEP. In fact, under RCEP, more agricultural tariff lines were excluded from tariff commitments compared to our commitments under the Asean Trade in Goods Agreement (ATIGA) and the ASEAN+1 FTAs. Under RCEP, the Philippines only offered 33 agricultural tariff lines covering 15 products for further liberalization, specifically for Australia, New Zealand, China, and South Korea—compared to the existing ASEAN +1 Free Trade Agreements. This is only equivalent to 1.9 percent of the total agricultural tariff lines.

The global and regional markets are already open, and trade has been liberalized. We already have bilateral trade agreements,  and ASEAN Free Trade Agreements. Whether we concur with the ratification of RCEP or not, the world has already evolved into a global marketplace, with pockets of regional markets.

RCEP is essentially a step towards ensuring that a rules-based, transparent, and conducive business environment is promoted to ensure sustainable and inclusive economic growth.  Why would we not want to be a part of this?

RCEP offers better market access for key Philippine products such as preserved pineapples, coconut juice, papaya, durian in China, Korea, and Japan.  It offers additional guaranteed market access for services in Australia, China, Japan, Korea, and New Zealand.  Many of our production sectors need more markets and they are clamoring for it.

RCEP offers enhanced and stable rules to encourage investments and presents opportunities for our professionals and service providers in the RCEP region.

RCEP offers opportunities for economic and technical cooperation in order to boost our competitiveness and build our comparative advantage in sectors with the greatest strength. L egarda stressed the senators

continued from a14

are “not blind” to the concerns of the farmers, adding in Filipino that, “I hear your grievances as I sponsor the RCEP” and vowing to make sure the accord’s provisions will not gut their sector.

“ We need to strengthen public-private cooperation through joint consultative and monitoring mechanisms. This will enhance accountability, promote mutual learning, encourage best practices, and harness trust,” she suggested.

L egarda pitched “transparency” in all transactions. “If we want to optimize the benefits of global and regional trading systems offered not just by RCEP, but by other multilateral and bilateral trading systems, we need to make transparency among the cornerstones of transactions in government and with our trading partners. Share information that will allow our sectors to grow and be informed of the vast opportunities in the domestic, regional, and global marketplace.  Share data

are sure to gain valuable insights and support from Japan, especially in the field of ICT,” DICT Secretary Ivan John E. Uy said.

It is also expected to result in the diversification of 5G suppliers and the development of open, secure and resilient 5G network, as well as the development of capacity-building programs for cyber security.

T he cooperation provides for the reinforcement of their previous areas of cooperation such as digital transformation, big data and artifi-

cial intelligence, Internet of things, and cultural relationships through broadcasting content.

L astly, the MOC will strengthen the cooperation of the two countries for the smooth transition to Digital Terrestrial Television Broadcasting and for the utilization of Emergency Warning Broadcasting System (EWBS) in the Philippines.  T he two agencies will be working together in formulating and facilitating joint ICT projects over the course of five years.

Bangsamoro lawmakers bat for creation of orphanages, population control office

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

DAVAO CITY—Bangsamoro lawmakers are pushing for the establishment of orphanages across its provinces to provide adequate welfare support to orphans and to prevent them from getting more vulnerable to further poverty and crime.

T he bill would complement another proposal to create the agency on population management and development to help the Bangsamoro region manage its population and achieve its human development goals.

“For a child who has lost a parent, life is filled with hardships. In the absence of early child and development support, the orphaned child is one of those most vulnerable to poverty, radicalization, and criminality,” said the Members of the Parliament (MP) who authored Parliament Bill No. 112, also known as the Bangsamoro Orphanage Act of 2022.

Ministry of Interior and Local Government. Provincial, municipal and barangay local government units and a traditional leader and ulama or imam of each province in the region would also be asked to lend support. O rphanages would be provided with basic needs, physical safety and security, as well as socioeconomic needs, educational needs, emotional and spiritual needs, and access to justice.

Orphaned minors, as described in PB No. 122, are those who are under the age of 18, do not have a legal guardian, and have lost both biological parents. But orphaned children who have attained the age of 18 or who have been adopted are no longer eligible for the program.

PB No. 112 is principally authored by MPs Diamila Disimban Ramos, Ali Solaiman, Marjanie Macasalong, Abdullah Macapaar, Basit Abbas, Said Sheik, Khalid Hadji Abdullah, Eddie Alih, Amilbahar Mawallil, Nabila Margarita Pangandaman, and Abdulazis Amenodin.

innovative” vehicles such as electric vehicles, and electric bikes, as well as smart poles and drones for real time data collection and dissemination, to complete the system.

A ll of these project components, BCDA said, are covered by the demonstration project initiated by NEDO.

A government organization under the Ministry of Trade and Industry (METI) of Japan, NEDO is a national research and development agency that creates innovation by promoting technological development necessary for realization of a sustainable society.

to improve production.”

Third, she suggested reforms in all relevant programs.

Better MSME and agricultural sector access to finance, technical and infrastructure support, creating competitiveness in our sectors, harnessing the power of digital infrastructure and technologies, strengthening supply chain connectivity,  promoting a productive and efficient workforce, accelerating green growth, building resilient businesses, just to name a few, should be addressed by our programs,” the senator said, adding: “We cannot be competitive based on promised assistance to our ailing sectors. We need concrete action to be delivered fast. Remember, the Philippine Congress appropriates resources to serve specific purposes. Make sure these are well-spent, and within the timeframe you committed to deliver them.  Our state of competitiveness will define how much more opportunities we can turn into success stories in RCEP.” Butch Fernandez

T he bill would like accredited orphanages constructed and institutionalized in each province to improve the living conditions of all orphans “and give them a chance to live a fulfilled life.”

T he bill would also want a monitoring and evaluation system for orphaned minors be created to determine the eligible beneficiaries and craft the appropriate model for the orphanage in the community.

If approved, the Ministry of Social Services and Development would be the implementing agency and it would be supported by provincial, municipal, and city social welfare development offices, including the

Meanwhile, another proposal was filed at the Bangsamoro Transition Authority, the interim Parliament, to create the Bangsamoro Commission on Population Management and Development to help the Bangsamoro government ensure an improved mechanism and support in implementing the population management program in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

B TA Bill No. 110, or the Bangsamoro Commission on Population and Development Act of 2022 “seeks to create an enabling environment for people to achieve their development goals through a well-managed population.”

DAR sets distribution of land titles to 85 NegOcc farmers

By Jonathan L. Mayuga @jonlmayuga

ATOTAL of 85 farmers from Negros Occidental will soon receive land from the government.

T he Department of Agrarian Reform (DAR) said it has distributed certificates of land ownership awards (CLOA) to the landless farmers covering a total of 46.44 hectares of agricultural lands.

By average, each of the 85 farmers will receive slightly over 500 square meters of farmland.

Barangay Agrarian Reform Committee chairperson Ma. Luvisminda Llarves, who participated in the CLOA distribution ceremony with other barangay officials was elated and expressed her gratefulness to the agency.

“We are very thankful for these lands because it would help improve the farmers’ economic lives,” she said

in a statement.

Atty. Shiela Enciso, DAR Western Visayas Regional Director, said the activity is in line with the directive of President Ferdinand R. Marcos Jr. to DAR Secretary Conrado Estrella III to improve the lives of agrarian reform beneficiaries (ARB).

A total of 33 ARBs from Victorias City received the 27.66 hectare property formerly owned by Silvino Eriberto Martin Jesena, et al., located at Hacienda. Mantaunon, Barangay VIII, while an 18.78 hectare-property formerly owned by Siacor Agricultural Corp., located at Barangay Magticol in the town of Toboso, was distributed to 52 ARBs. The ARBs, as awardees of the land transfer program under the Comprehensive Agrarian Reform Program (CARP), need to pay their land taxes and make the lands productive.

between customers and companies, responsible for problem tracking, diagnosis, replication, troubleshooting and resolution of application help desk tickets within defined service level agreements

Basic Qualification: Bachelor’s degree or equivalent practical experience, ability to speak and write in English and Korean fluently, ability to design, development, unit testing and implementation solutions to better monitor process and tasks in our production environments to minimize downtime and provide technical support for internal applications, external web sites, internal and external web services, and systems and back-end databases to ensure availability standards are met.

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Bachelor’s degree or equivalent practical experience, ability to speak and write in English and Korean fluently, ability to design, development, unit testing and implementation solutions to better monitor process and tasks in our production environments to minimize downtime and provide technical support for internal applications, external web sites, internal and external web services, and systems and back-end databases

29.

30,000 - Php 59,999

30.

XIAOLAN

Specialist Consultant

LUO, FUMING Mandarin Chief Electric Officer

Brief Job Description: The mandarin chief electric officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

YING, LIFA Mandarin Deck Officer

Brief Job Description: The mandarin deck officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

Basic Qualification: Proven experience as mandarin chief electric officer, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proven experience as mandarin deck officer, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

Salary Range: Php 30,000 - Php 59,999

31.

DAI, FENGSHOU Mandarin Desk Officer Brief Job Description: The mandarin deck officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

HU, RENHUA Mandarin Motorman Officer

Basic Qualification: Proven experience as mandarin deck officer, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

Salary Range: Php 30,000 - Php 59,999

32.

Brief Job Description: The mandarin motorman officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

33.

HUANG, LEIBING Mandarin Staff Captain

Brief Job Description: The mandarin staff captain will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

Basic Qualification: Proven experience as mandarin motorman officer, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proven experience as mandarin staff captain, familiarity, knowledge and awareness on machinery and heavy equipment use by company. Demonstrable experience in developing strategic business plan.

Salary Range: Php 30,000 - Php 59,999

China’s sharp drop in Covid deaths revives data concerns

By Jennifer Creery

Asian stocks fall, oil drops after US inflation feeds rate hike fears

By Joe Mcdonald AP Business Writer

BEIJING—Asian stock mar -

kets fell Wednesday after US inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate hikes are needed.

Market benchmarks in Tokyo, Shanghai, Hong Kong and Sydney declined. Oil prices retreated.

Wall Street ended mixed Tuesday after inflation slowed to 6.4 percent in January from the previous month’s 6.5 percent. That was down from June’s three-decade high of 9.1 percent but hotter than the consensus expectation of 6.2 percent.

After meticulously tracking cases for most of the pandemic, China abruptly abandoned its signature zero-tolerance policy at the end of 2022, halting mass testing, quarantines and lockdowns, and narrowing its definition of what constitutes a Covid death. Now, China’s mortality rate is falling at the fastest pace of all the places globally that saw massive Omicron waves last year, defined as killing at least 150 people a day at their peak.

Reported deaths at China’s hospitals plummeted to 102 last Monday, from 4,273 on January 4, a decline so steep that it’s fueling concerns over data obfuscation. In comparison, deaths in the US—which rolled out more effective vaccines—peaked at just over 2,600 a day during the height of its Omicron wave in early 2022, falling to about 1,400 just over a month later.

“It’s not the typical pattern that you would expect in a country like China,” said Yanzhong Huang, senior fellow for global health at the New York-based Council on Foreign Relations. “China’s population is several times of the US level, so you would expect the actual death toll would be higher, much higher.”

Overall, mainland China’s death rate has fallen 98 percent from its January 4 peak, according to official statistics. That

compares to a drop of about 80 percent in Hong Kong and Indonesia, 68 percent in South Korea, 56 percent in Taiwan, and 45 percent in the UK and US over a similar period from their respective highs. South Africa and India more closely trail China, with deaths falling 96 percent and 86 percent, respectively, from their peaks during a comparable time frame.

The latest mortality statistics come as Beijing grows anxious to move past its chaotic Covid Zero exit, precipitated by rising case counts and protests from citizens weary of the effort needed to contain the virus. The relaxation drove a wave of infections just as the country stopped releasing daily Covid updates—including case counts—after a testing rollback rendered them meaningless.

Accurate accounting

THE lack of clear information and the low number of deaths attributed to Covid raise questions about the accuracy of official data, after hospitals were overwhelmed and families lined the streets with their loved ones’ coffins waiting for access to crematoriums. While all countries have struggled to document their pandemic experience, China’s changing approach has made its accounting particularly fraught.

“China is exceptional in the

pace of reduction of Covid-related deaths,” said Zuo-Feng Zhang, an epidemiologist at the University of California, Los Angeles. “I would expect the reduction of mortality (to occur at) a slower pace” because of China’s size and the uneven distribution of infections across different-sized cities and rural areas, he wrote in an e-mail.

The decline has been fast and consistent. Covid-related fatalities fell 72 percent to 912 for the week ended February 9, from the previous seven days, according to the Chinese Center for Disease Control and Prevention. That was preceded by a drop of 48 percent from 6,364 for the week ended January 26, the agency said.

Hospital deaths

THE numbers take into account only those patients who died in hospitals, potentially a fraction of the true mortality rate in a country where millions of people don’t have easy access to health care facilities, especially in rural areas. The death tally does include patients who had other medical conditions, a reversal of an earlier policy announced in December that excluded those

who died with other diseases or who had suffered an event like a heart attack.

It’s an about-face that adds to the murkiness around the official data.

“We know that undercounting happens in many countries,” said Huang, of the Council on Foreign Relations. “The problem for China is the extent of that undercount, or what causes that undercount. First you have the strict definition that discourages doctors from reporting Covid-related deaths. Second, you only count those cases when people die in hospitals.”

Many people who died at home, and even some who died in hospitals, may not have been tested for Covid, he said. That clouds the picture of what is happening across the country.

Siddharth Sridhar, a clinical virologist at the University of Hong Kong, said testing infrastructure breaks down amid acute surges in cases.

“You’re essentially only testing people who are coming to hospital, so you no longer have a clear idea of what’s going on in the community,” Sridhar said.  With assistance from Dong Lyu/Bloomberg

China’s Xi expresses support for Iran amid Western pressure

BEIJING—Chinese leader Xi Jinping expressed support for Iran during a visit Tuesday by its president as Tehran tries to expand relations with Beijing and Moscow to offset Western sanctions over its nuclear development.

The official Chinese account of Xi’s meeting with Ebrahim Raisi gave no indication whether they discussed Russia’s attack on Ukraine.

Tehran supplied military drones to Russian President Vladimir Putin’s government but says they were delivered before the war began.

Xi expressed support for Raisi’s government in language Beijing uses to criticize Washington’s domination of global affairs. China and Iran portray themselves, alongside Moscow, as counterweights to American power.

“China supports Iran in safeguarding national sovereignty” and “resisting unilateralism and bullying,” Xi said in a statement carried by Chinese state TV on its web site.

Xi and Raisi attended the signing of 20 cooperation agreements including trade and tourism, the Chinese

government announced. Those add to a 25-year strategy agreement signed in 2021 to cooperate in developing oil, industry and other fields.

China is one of the biggest buyers of Iranian oil and a source of investment.

Iran has struggled for years under trade and financial sanctions imposed by Washington and other Western governments over what they say is Tehran’s efforts to develop nuclear weapons, an accusation the Iranian government denies.

The United States government cut off Iran’s access to the

network that connects global banks in 2018.

US State Department spokesperson Ned Price urged China to influence Iran and lower potential threats in the region, saying that “would be in both of our interests.”

“The PRC has a role to play in very clearly signaling to Iran that its destabilizing activities—that its brinksmanship—is not going to be rewarded, it’s not going to be countenanced. It is not something that the international community is prepared to sit idly by and

watch,” Price said Tuesday to reporters in Washington, referring to China by its official name, the People’s Republic of China.

Xi said Beijing “opposes external forces interfering in Iran’s internal affairs and undermining Iran’s security and stability,” according to the government statement. It said Xi promised to “work together on issues involving each other’s core interests,” but gave no details.

Raisi’s government didn’t immediately release details of the meeting, but the president called the two governments “friends in difficult situations” in a commentary published Monday by the ruling Communist Party newspaper People’s Daily.

A Chinese Foreign Ministry spokesperson, asked whether Beijing was concerned that getting closer to Iran might complicate US-Chinese ties, said their “friend relations” contribute to “promotion of peace and stability in the Middle East.”

“Our relations do not target any third parties,” said the spokesperson, Wang Wenbin. AP diplomacy writer Matt Lee in Washington, D.C., contributed

this year despite comments by Chair Jerome Powell and other Fed officials that borrowing costs might have to stay elevated for an extended period to get inflation to their 2 percent target.

On Wall Street, the benchmark S&P 500 index edged down less than 0.1 percent to 4,136.13. The Dow Jones Industrial Average lost 0.5 percent to 34,089.27 while the Nasdaq gained 0.6 percent to 11,960.15.

The Fed’s benchmark lending rate stands at 4.50 percent to 4.75 percent, up from close to zero a year ago.

Core inflation, which strips out more volatile food and energy prices to give a clearer view of the trend, rose to 0.4 percent over a month earlier from December’s 0.3 percent.

“Disinflation trends are in danger, which could prompt the Fed to both deliver more rate hikes and for them to stay higher for longer,” said Edward Moya of Oanda in a report.

The Shanghai Composite Index lost 0.3 percent to 3,283.19 and the Nikkei 225 in Tokyo gave up 0.4 percent to 27,491.51. The Hang Seng in Hong Kong tumbled 1.4 percent to 20,806.24.

The Kospi in Seoul retreated 1.1 percent to 2,438.28 and Sydney’s S&P-ASX 200 sank 1.2 percent to 7,345.70.

New Zealand and Southeast Asian markets also declined.

Stock prices have swung between gains and losses over the past year as traders try to figure out how far the Fed and other central banks will go to extinguish surging inflation. Some worry central bankers might be willing to tip the global economy into a recession.

Traders expect two more US rate hikes of 0.25 percentage points this year to slow business activity and hiring. Some expect cuts to start as soon the end of

Investors have been raising their forecasts for how high the Fed will take rates by the summer, and they’re now betting on a 19.2 percent probability that its key rate will top 5.5 percent in July. That’s up from just a 0.2 percent probability seen a month ago, according to CME Group.

The market’s expectations for the Fed have been driving yields higher in the bond market in particular. The two-year Treasury has shot to its highest level since November, egged on last week by a stronger-than-expected report on the US jobs market.

The two-year yield rose to 4.61 percent from 4.52 percent late Monday. It initially zigzagged up, down and back again after the release of the inflation report.

The 10-year yield, which helps set rates for mortgages and other loans, rose to 3.75 percent from 3.70 percent.

In energy markets, benchmark US crude lost 37 cents to $78.69 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.08 on Tuesday to $79.06. Brent crude, the price basis for international oil trading, shed 38 cents to $85.20 per barrel in London. It lost $1.03 the previous session to $85.58. The dollar declined to 133.04 yen from Tuesday’s 133.06 yen. The euro retreated to $1.0722 from $1.0739.

IN this photo released by the Taiwan Ministry of National Defense, Major general Huang Wenchi, the assistant deputy chief of general staff for intelligence speaks during a press conference in Taipei, Taiwan, on Tuesday, February 14, 2023. Amid

Taiwan threatens to shoot down any Chinese balloons

BEIJING—Amid speculation over alleged Chinese spy balloons, Taiwan’s Defense Ministry said Tuesday it would shoot down any suspected military object coming close to its shores from mainland China.

Maj. Gen. Huang Wen-chi, the assistant deputy chief of general staff for intelligence, told reporters that the self-governing island was on guard for any incursions, but had yet to find any that had penetrated its defenses.

Balloons found so far around Taiwan were used for meteorological exploration, he said. They were relatively small and light and would burst after rising to an altitude that could be threatening. Taiwan has yet to find targets requiring a lethal response, he said.

“We haven’t seen such sophisticated spy balloons sent by the Chinese Communist Party in the waters near Taiwan,” Huang said, referring to the balloon shot down by the US earlier this month after traveling for days from above Alaska to South Carolina.

China, which claims Taiwan as its territory to be reunited by force if necessary, regularly sends fighter jets and other military assets into Taiwan’s airspace and sea-lanes.

Chinese Foreign Ministry spokesperson Wang Wenbin called the US downing of the Chinese balloon a “clear overreaction.” Beijing says it was an unmanned airship made for meteorological research that had been blown off course.

The US military had engaged an “absurd and costly large-scale political performance art show. We also advise the US side to be careful about overexerting itself and spraining its back,” Wang said at a daily news briefing.

The White House defended the shootdowns of three unidentified objects in as many days even as it acknowledged that officials had no indication the objects were intended for surveillance in the same manner as the highaltitude Chinese balloon. AP

CHINA is posting the steepest drop in Covid deaths among more than 20 places hit hardest by Omicron, reviving questions about its virus data and the true impact of the reopening wave as Beijing works to move on from the pandemic.

HEALTH workers in protective gear transport a bed outside the emergency room of a hospital in Shanghai last year. China’s health care system has been inundated by Covid patients, and questions are arising over the real impact of the latest wave. QILAI SHEN/BLOOMBERG

speculation over alleged Chinese spy balloons, Taiwan’s Defense Ministry said Tuesday it would shoot down any suspected military object coming close to its shores from mainland China. TAIWAN MINISTRY OF NATIONAL DEFENSE VIA AP

IN this photo released by the official web site of the office of the Iranian Presidency, President Ebrahim Raisi, left, shakes hands with his Chinese counterpart Xi Jinping in an official welcoming ceremony in Beijing on Tuesday, February 14, 2023. IRANIAN PRESIDENCY OFFICE VIA AP

Agriculture/Commodities

Sugar import allocation requires DA chief nod

By Jasper Emmanuel Y. Arcalas @jearcalas

PRESIDENT Marcos Jr. will have the final say on the sugar allocation of every eligible importer under the latest importation program of the national program, based on Sugar Order (SO) 6.

T he Sugar Regulatory Administration (SRA) published on its website SO 6 that authorized and outlined the guidelines for the latest import program of the national government. The Philippines will import 440,000 metric tons (MT) of refined sugar under SO 6.

SO 6 was also filed by the SRA at the UP Law Center Office of the National Administrative Register. The sugar order will take effect three days after filing it.

SO 6 was transmitted to the Office of the President (OP) as President Marcos Jr. is concurrently the agriculture chief and the chairperson of the SRA board.

However, SO 6 does not bear Marcos’ signature. Only the four other members of the SRA board signed

the document.

T he board members that signed the document are Senior Agriculture Undersecretary Domingo F. Panganiban, SRA Administrator David John Thaddeus P. Alba, millers’ representative Ma. Mitzi V. Mangwag and planters’ representative Pablo Luis S. Azcona.

SO 6 stipulated that the allocation per importer will need the approval of the Department of Agriculture, which is headed by Mr. Marcos.

T he allocation per importer under the latest round of importation would be based on the recommendation of the SRA board.

In the previous sugar import programs, the SRA board set a limit on the allowable import volume per importer or the allocation was prorated for each eligible importer. The volume allocated to an eligible importer shall be that as recommended by the SRA board and approved by the Department of Agriculture,” Section 5 of SO 6 read.

Under the import rules, the SRA will start accepting applications

for five calendar days starting from the effectivity of the sugar order. The SRA will award the allocations within five calendar days

from the last day of acceptance of applications.

T he eligible importers must be an international sugar trader in good

Govt reviews indemnification scheme for poultry raisers

THE agriculture department is currently reviewing its indemnification guidelines, particularly the amount for each culled bird, in its bid to encourage raisers to report suspected bird flu cases to authorities.

Bureau of Animal Industry (BAI)

Assistant Director Arlene Asteria Vytiaco said current market conditions prompted the agency to review the indemnification guidelines.

At present, the government pays P100 for every bird culled by authorities in curbing and controlling the spread of bird flu, which has seen a resurgence since February 2022, according to Vytiaco.

Local poultry industry stakeholders have long been urging the government to implement an indemnification system that is on a par with market prices or a payment system

MEAT companies still don’t have enough workers to staff slaughterhouses, leading to rising prices and even some acute supply shortages. That’s a problem of their own making because of poor labor practices, according to an investor group that focuses on ESG issues.

W hile global meat companies boosted pay and other benefits in the wake of the pandemic that started in 2020, some of the enhanced offerings have since been rolled back or weakened, including in some cases, paid time off for sick leave, according to a report from the FAIRR Initiative released Tuesday. The group, which represents investors with $70 trillion in combined assets, also pointed to the use of subcontracted workers as leaving companies vulnerable to facilitating unethical labor conditions.

T he meat industry has come under greater scrutiny since the start of the pandemic, when crowded processing plants became hot spots for Covid-19 outbreaks—thousands of the industry’s workers fell ill, and dozens died. Producers have struggled with a reputation of difficult conditions since the days of Upton Sinclair, the American author who wrote of abuses in his 1906 novel, “The Jungle.” And even in the modern era, reports have surfaced of cramped conditions, low wages and even bathroom breaks that are so minimal some workers resort to wearing diapers.

Meanwhile, meat prices in the United States and globally soared amid limited supplies, outpacing the inflation seen in many other food staples. And the industry has faced difficulty hiring more workers amid great competition in the labor market. In January, prices for meat

that is attractive enough for raisers to voluntarily report possible bird flu outbreaks in their farms.

I cannot say what the [new] exact figure is for now because it is under review. It can go higher or lower depending on the results of the review,” Vytiaco told reporters in an interview on Wednesday. “ We are hoping that the amount will be attractive enough for the farmers to report any suspect cases.”

Vytiaco noted that some poultry farmers would rather sell their poultry even if it is suspected of carrying bird flu than wait for indemnification from the government.

The [Department of Agriculture] recognizes the importance of indemnification for early reporting.”

Vytiaco also said the agriculture department is mulling over the adoption of vaccination as a mode

of bird flu prevention.

She said there has been a “growing clamor” from poultry industry stakeholders to allow the use of avian influenza vaccines in the country.

S ince the government does not allow its use, some poultry farmers have started to smuggle bird flu vaccines to protect their flocks from the transboundary animal disease, she added.

“ We want to address the smuggling because that is dangerous. That is one factor we are considering in deciding whether to adopt vaccination [against avian influenza].”

B ased on existing protocols, Vytiaco said two factors will prompt the government to allow the use of vaccines against bird flu: if the disease is already endemic and if the spread of the disease is already uncontrollable.

She said bird flu is not yet endemic in the Philippines and that its spread is still controllable. However, she noted that it is the clamor from stakeholders that is pushing government authorities to consider the vaccination of poultry.

Vytiaco said the BAI has already consulted stakeholders regarding the vaccination of the domestic poultry population against bird flu.

T he country continues to grapple with the spread of bird flu but authorities gave assurances that the impact of recent cases on overall poultry supply is “insignificant.” (Related story: https://businessmirror. com.ph/2023/02/15/governmentbird-flu-cases-under-control/)

Si nce February 2022, the BAI recorded bird flu outbreaks in 263 poultry farms nationwide and 2 million birds culled. Jasper

Emmanuel Y. Arcalas

a “lot more’’ than they were before the pandemic, more attention needs to be paid on safety and health protocols, Lauritsen said.

“I don’t want to say it’s worse,’’ Lauritsen said of plant conditions. “It’s different.”

standing provided that they are engaged in actual purchase of locally produced sugar directly from the local producers as well as selling of

physical sugar to consumers.

Interested importers are required to submit an application letter containing the following information: volume of sugar applied, country of origin, and an undertaking that they would purchase locally produced refined sugar and/or raw sugar in the current crop year as well as in the next crop year.

T he requirement to purchase sugar from local producers is necessary to “maintain the importer’s eligibility for future import programs,” according to SO 6. A s earlier announced by government officials, the arrival of the imported refined sugar will be in three tranches: 100,000 MT as soon as possible, 100,000 MT before April 1 and 240,000 MT after April 1.

T he Philippines allowed the importation of 504,050 MT of sugar, bulk of which is refined, to augment local supply and pull down prices. (Related story: https://businessmirror.com.ph/2023/02/13/ sra-board-okays-importationof440000-mt-of-refined-sugar/)

FAO publishes first global assessment of soil organic carbon in grasslands

IMPROVING management practices in grasslands—large areas covered with grass, especially used for animal grazing—can boost the capacity of soils as carbon sinks, and help countries reach their climate goals, according to a new report by the Food and Agriculture Organization of the United Nations (FAO).

A fter oceans, soils are the second largest carbon pool on earth and they play an important role in global climate change due to the large amount of carbon currently stored in soil organic matter.

T he first FAO Global assessment of Soil Carbon in Grasslands measured the baseline of stocks of Soil Organic Carbon (SOC)—the carbon held within the soil that is measurable, expressed as a percentage by weight (gC/Kg soil)—in both seminatural and managed grasslands and estimated their potential of SOC sequestration.

T he study found that if the SOC content in the 0-30 centimer depth layer of available grasslands increased by 0.3 per cent after 20 years of the application of management practices that enhance soil organic carbon sequestration, 0.3 tons C/ ha per year could be sequestered.

versed by stimulating plant growth, capturing carbon in the soil, and protecting carbon in highly organic soils, such as semi-natural (non-human managed) grasslands.

In livestock management, this could also mean implementing rotational, planned or adaptative grazing measures for animals.

Case studies

THE report also explores other possible measures to improve SOC stocks through case studies, such as the establishment of fodder gardens in eastern African Countries.

More than 40,000 small farmers in Kenya and Uganda have established gardens with calliandra trees as a practice to raise milk production and improve cow health.

T he trees have had remarkable success in conserving soil, nutrient cycling and nutrient retention, but little is known regarding their potential of sequestering carbon in the soil.

According to the study, the establishment of these gardens has a potential increase in soil carbon of 0.03 tons C/ha per year.

were 2.2 percent higher than a year ago, according to Labor Department data published Tuesday.

Evidence shows that shortages are becoming more prevalent and are linked to poor working conditions,’’ the FAIRR report said, referring to labor crunches. “This is a major risk, which is impacting production and profits.”

Some companies, such as Tyson Foods Inc. and JBS USA, the two biggest US producers, are disclosing information on sick pay to investors; others are not, such as WH Group, owner of pork producer Smithfield Foods Inc., according to the report. That makes the industry more opaque than many others. Tyson, JBS and Smithfield didn’t immediately respond to requests for comment from Bloomberg News.

The industry is not attractive to workers currently—people don’t want to work there,” said Siân Jones, an analyst at FAIRR.

During April and May of 2020, at least 91 people who worked at meat plants died from Covid-19, and there were at least 17,358 confirmed cases, according to a Centers for Disease Control and Prevention report. A subsequent labor shortage forced many plants to shut down temporarily, which contributed to meat shortages and sent beef and chicken prices soaring to records.

Companies then boosted hourly wages and offered sick time and other increased benefits, such as childcare and college assistance. That has helped some to improve staffing levels—Tyson’s Chief Executive Officer Donnie King last week in an earnings call said the company was “fully staffed.’’

More work is needed, though, said Mark Lauritsen, vice president of meatpacking at the United Food and Commercial Workers Union, which represents thousands of plant employees. While workers are making

Some Brazilian companies have done more than their US counterparts in terms of transparency, said Jones of FAIRR. The group said Brazil’s Marfrig Global Foods SA “stands out” as the company most improved in engagement, with disclosure across four key areas: grievance mechanisms, sick pay, the distribution of its workforce across employment contract types and worker representation. In an emailed comment, Marfrig said the report shows the company “consistently stood out positively in relation to policies and practices.”

Egg prices

Breakfast is getting even more expensive after US egg prices soared 8.5 percent in January while citrus fruits, cereal and baked goods also climbed.

Egg prices have been surging amid the nation’s worst-ever outbreak of deadly bird flu that decimated chicken flocks. One outbreak late last year wiped out more than a million birds, according to the US Department of Agriculture. Although wholesale prices have started to slip from alltime highs, that hasn’t yet rippled through to grocery stores.

A dozen eggs now command on average $4.82, more than a pound of chicken breast, pork chops, ground beef, processed American cheese or even a gallon of gasoline. The 70 percent surge in egg prices from a year ago has been the steepest 12-month rise in four decades. Bloomberg News

“Assessing the current state of grassland systems and their potential to sequester carbon in the soil is key to better understand the benefits of grassland services for food security, biodiversity conservation and climate change mitigation,” said Thanawat Tiensin, Director of FAO’s Animal Production and Health Division.

This report provides a comprehensive analysis of the state of carbon stocks and potential offsets in grassland soils in the world. It can be also used as a baseline for future works to enhance soil carbon sequestration through sustainable grazing management,” he added.

Importance of grasslands

SOILS can act as both sources and sinks of carbon, and many grasslands, which contain approximately 20 per cent of the world’s SOC, have suffered losses because of human activities such as intensive livestock grazing, agricultural activities and other land-use activities.

According to the report, most of the world’s grasslands have a positive carbon balance, meaning the land is stable or well-maintained. However, negative carbon balance was found in East Asia, Central and South America, and Africa south of the Equator, meaning these stocks are likely to be decreasing due to anthropogenic stresses combined with climatic conditions.

T his trend, however, could be re-

T he report also explores options considering grazing systems intensification in response to increasing demand for livestock products and land competition.

T hese include enhancing carbon inputs from plant roots and residues by managing plant biomass removal from grazing or increasing forage production through improved species, irrigation and fertilization.

Limitations

THE study pointed out that the lack of incentives for farmers to improve management practices, and the current difficulty in accurately monitoring SOC stocks and changes are the main reasons that SOCs are not being included in the national climate plans known as National Determined Contributions (NDCs), which are at the heart of the Paris Agreement.

T he results of the report could support the inclusion of SOC targets in NDCs, improving their transparency for tracking and comparing policy progress related to soils.

T he authors also underscored that the estimation of the global soil carbon stock is still quite uncertain and improved geostatistical methods and data accuracy related to soil, animal and vegetation properties and their carbon exchange are urgently needed.

“ It is crucial to generate local datasets, especially from underrepresented regions [e.g., Africa], and explore differences among existing datasets,” they said.

Is China hitting PHL to test the US?

THe 1995 Protocol on Blinding Laser Weapons prohibits the use of laser weapons as a means or method of warfare. The Protocol was adopted on October 13, 1995 at the First Review Conference of the 1980 Convention on Certain Conventional Weapons in Vienna, Austria, and was annexed to the CCW as Protocol IV. The Protocol entered into force on July 30, 1998 to “counter the silent and invisible threat to human sight posed by the threat of blinding laser weapons.”

A Chinese coast guard vessel on Monday targeted a Philippine Coast Guard boat with military-grade laser, temporarily blinding some of the PCG personnel on board. The China Coast Guard vessel also made dangerous maneuvers against the PCG ship BRP Malapascua during the incident, the PCG said in a statement issued on Monday, as it slammed China’s actions within the Philippines’s maritime waters. The harassments occurred on February 6 while the BRP Malapascua and its crewmen were supporting the resupply mission of the Navy for Filipino troops watching the Ayungin Shoal who are stationed at the partly sunken BRP Sierra Madre. (Read, “PCG says Chinese vessel temporarily blinds crew with military-grade laser,” in the BusinessMirror, February 13, 2023).

The Department of Foreign Affairs has protested China’s use of a military-grade laser at a PCG ship. The diplomatic protest, which was filed with the Chinese Embassy in Manila on Tuesday, “condemned the shadowing, harassment, dangerous maneuvers, directing of military-grade laser, and illegal radio challenges” by a Chinese coast guard vessel against a Philippine ship on February 6.

“The Philippines has the prerogative to conduct legitimate activities within its exclusive economic zone and continental shelf. China does not have law enforcement rights or powers in and around Ayungin Shoal or any part of the Philippines’s exclusive economic zone,” DFA Spokesperson Teresita Daza said.

“These acts of aggression by China are disturbing and disappointing as it closely follows the state visit to China of President Ferdinand R. Marcos Jr. in early January during which he and Chinese President Xi Jinping agreed to manage maritime differences through diplomacy and dialogue, without resorting to force and intimidation,” Daza added.

The President has summoned China’s ambassador to express his “serious concern” after a Chinese ship aimed a military-grade laser at a PCG vessel, causing “temporary blindness” to the crew. Marcos expressed his concern to Chinese Ambassador Huang Xilian on Tuesday “over the increasing frequency and intensity of actions by China against the Philippine Coast Guard and our Filipino fishermen.”

“The PRC’s (People’s Republic of China) conduct was provocative and unsafe, resulting in the temporary blindness of the crewmembers of the BRP Malapascua and interfering with the Philippines’s lawful operations in and around Second Thomas Shoal,” US Department of State spokesman Ned Price said in a statement. “More broadly, the PRC’s dangerous operational behavior directly threatens regional peace and stability, infringes upon freedom of navigation in the South China Sea as guaranteed under international law, and undermines the rules-based international order,” Price said.

From the Associated Press: The United States renewed a warning that it would defend its treaty ally if Filipino forces come under an armed attack in the disputed South China Sea after a Chinese coast guard ship allegedly hit a Philippine patrol vessel with military-grade laser that temporarily blinded some of its crew. US State Department Spokesperson Ned Price said an armed attack on Philippine armed forces, public vessels, or aircraft, including those of the coast guard in the South China Sea, would invoke US mutual defense commitments under a 1951 treaty. The treaty obligates the allies to help defend one another in case of an external attack.”

At the Senate, Deputy Minority Leader Sen. Risa Hontiveros accused China’s Ministry of Foreign Affairs of lying. She said: “It cannot claim that the Chinese Coast Guard ship acted in accordance with international law, when the 2016 arbitral tribunal that ruled against China’s baseless 9-dash-line claim was constituted precisely under the Unclos. Ayungin Shoal is Philippine territory. They should stop calling it by its Chinese name. Ayungin is part of the Philippines’s exclusive economic zone. The Unclos affirms this. The wider international community recognizes this.”

“To China’s Ministry of Foreign Affairs, stop lying and stick to the truth—that China is using her military might to justify her blatant and dangerous disregard for international law, with her flimsy historical “claim” as an excuse. Stop with the false narratives, end the lies, and get out of the West Philippine Sea,” Hontiveros said. With intelligence reports saying that China could attack Taiwan as soon as 2024—presumably around Taiwan’s January 2024 elections—is China hitting the Philippines to test the Philippine-US mutual defense commitments under a 1951 treaty?

BusinessMirror

Gold and debt default

John Mangun

OUTSIDE THE BOX

THIS is a topic that comes up from time to time usually when inflation is high and the US government must raise its “debt ceiling.” And also, coincidentally, when the price of gold is at a “historic” high.

There are those who believe that The Deity or perhaps aliens riding balloons through the sky ordained that humans should use a bright, slightly orange-yellow, dense, malleable, and ductile metal with the atomic number 79 as the only sensible form of money.

If only paper currency was backed—meaning convertible—to gold, then all the world’s financial problems would be solved. We now even have gold-backed cryptocurrencies that have an exchange rate of 1 token to 1 gram of gold, for example. But first, let’s talk about government debt. The US government is bound by law to carry up to a specified amount of debt, the limit of which must be raised nearly every year as government borrows more and more. In 2000, the US government debt was $5.5 trillion and is now $31.5 trillion, having increased

The government decided to default on all of the domestically held Liberty Bonds by refusing to redeem in gold to Americans. Then the Gold Reserve Act of 1934 devalued the dollar from $20.67 per ounce to $35 per ounce, a reduction of 40 percent. Or, put another way, the amount of gold represented by a dollar was reduced to 59 percent of its former amount.

gold, the government determines the exchange rate. Even the gold Cryptos say specifically that the price of the token is determined by the price of gold. And how is gold priced? In good old US dollars.

Nowhere does the crypto contract say the token price is “Two hundred kilos of pork forever and ever.”

by almost six times.

There are two justifications for the US government constantly borrowing more and more money. The first is, because they can. It can borrow virtually an unlimited amount because financial institutions and other governments are willing to loan the money even knowing that the principal amount of the debt will never be paid, unlike when you or I borrow money. All they care about is the interest payment.

The thing that no one wants to talk about is that all of it is a giant Ponzi scheme. Uncle Sam borrows money from a bank today to pay the interest on the money it borrowed from Japan last year, and on and on forever.

The second justification is the belief that the US government has never defaulted on its debt, which is false and brings us back to gold.

A Liberty Bond was a war bond

that was sold in the US to support the Allied cause in World War I. In 1934, the US government defaulted on the Fourth Liberty Bond as the terms of this debt was clear. The bonds were to be payable in gold. In 1933, the interest payments alone were draining the treasury of gold; and because the treasury had only $4.2 billion in gold it was obvious there would be no way to pay the principal when it became due in 1938. The solution was simple.

The government decided to default on all of the domestically held Liberty Bonds by refusing to redeem in gold to Americans. Then the Gold Reserve Act of 1934 devalued the dollar from $20.67 per ounce to $35 per ounce, a reduction of 40 percent. Or, put another way, the amount of gold represented by a dollar was reduced to 59 percent of its former amount.

When a currency is “backed” by

But the “gold bugs” say that if the currency says “one piece of paper for one ounce of gold” then all problems are solved because the law will say the government cannot print more paper than it has gold in the vaults. Going all the way back to the Ancient Roman Empire, the government response has and will always be the same: “Oops, my bad. Our money; our rules.”

Notice that foreign governments and banks are not the ones pushing for a gold-backed currency. They like the current system just fine. And which government really cares about The People? “You don’t like our money? Use seashells or cow horns instead.”

Further, money means something real to We the People. To government and banks, money is only numbers on a spreadsheet. And if the numbers do not look good, change them to whatever you want.

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

UAE’s COP28 leader: ‘Fight climate change, not each other’

By Jon Gambrell | The Associated Press

DUBAI, United Arab em irates—The United Arab em irates’ pick to lead the upcoming COP28 climate talks in Dubai called on the world Tuesday to “fight climate change, not each other,” directly addressing the anger activists have felt over his selection.

Ruben

Sultan al-Jaber, the CEO of Abu Dhabi National Oil Co., also described the upcoming United Nations negotiations as an “unprecedented opportunity to engage the energy industry in a technological revolution.”

His speech at the World Government Summit in Dubai sought to present his nominated presidency as a bridge between oil companies and climate activists long suspicious of the industry’s influence on efforts to limit carbon emissions. Whether it will, however, remains in question.

“We need a major course correction,” al-Jaber said.

However, he added: “The strategies we pursue must leave no one behind. The policies we adopt must be pro-growth and pro-climate at

the same time.”

The speech renewed criticism among activists of al-Jaber’s nomination to shepherd the climate talks.

African youth climate activist Eric Njuguna from Kenya termed the remarks ‘’dismissive of valid and merited concerns brought forth by climate activists.” He called on the U.N. body overseeing the talks to install a conflict of interest policy that checks the influence that oil and gas firms have on the climate talks owing to their “long history of skewing and watering down important climate decisions.

Al-Jaber, a 49-year-old longtime climate envoy, is a trusted confidant of UAE leader Sheikh Mohammed bin Zayed Al Nahyan. He’s been be-

His speech at the World Government Summit in Dubai sought to present his nominated presidency as a bridge between oil companies and climate activists long suspicious of the industry’s influence on efforts to limit carbon emissions. Whether it will, however, remains in question.

hind tens of billions of dollars spent or pledged toward renewable energy—and also leads an oil company that pumps some 4 million barrels of crude a day and hopes to expand to 5 million daily.

That oil money fuels the ambitions of this federation of seven sheikhdoms on the Arabian Peninsula—as well as the production of more of the heat-trapping carbon dioxide that the UN negotiations hope to limit.

Activists have equated his nomination to asking “arms dealers to lead peace talks” when authorities announced his nomination in January. However, US climate envoy

John Kerry and France’s finance minister both have backed his selection by the UAE, a key Mideast ally. The UAE also wants to be carbon neutral by 2050—a target that remains difficult to assess and one that authorities haven’t fully explained how they’ll reach.

“There are moments in history when humanity comes together to fight a common threat. Let’s prove to ourselves that we can do it once again,” al-Jaber said. “Let’s put our differences aside. Fight climate change, not each other.”

Al-Jaber’s speech, which included portions he previously delivered in January, also acknowledged that “capital is critical to make the loss-and-damage fund real and operational.” That fund, agreed to at the COP27 talks in Sharm el-Sheikh, Egypt, did not include a means by which to fund them. Al-Jaber’s speech also didn’t offer a suggestion on how to raise the money.

However, he did call for “real reform of international financial in-

“UAE’s”

Grave danger facing Taiwan Fed officials float even higher rates after brisk inflation data

There are danger signs that the next geopolitical flashpoint could be Taiwan. Batanes is just a shouting distance from Taiwan, and more is the danger.

China’s current main foreign policy is to “reunify” the Mainland and Taiwan with means fair and foul. Taiwan has recorded almost daily incursions into its air space of Chinese fighter jets—the last count at 446 times.

Associated Press reports said there is a Taiwanese billionaire who is setting aside $100 million to build a Taiwanese civilian army of 3 million (300,000 snipers) people and a million drones in anticipation of an invasion by China. Every weekend, hundreds of Taiwanese youth voluntarily undergo military training, including search and rescue operations.

They claim this is a small price to pay for freedom and democracy and “they will never allow going Hong Kong’s way,” which is repressed by stringent Chinese rules. It is known that Taiwan has only a small military—only representing one percent of the population of 23.57 million.

China’s scare tactics have not been lost on the Taiwanese as they realized the brutal reality of another country, Russia, unilaterally forcing occupation on another country, Ukraine, even without provocation.

Taiwan is a strategic entry point to the Indo-Pacific domain and is in the middle of the South China Sea, which China has claimed as its own under its faulty “9-Dash Line” theory and which hosts $5-trillion worth of business goods traversing the waters every year. Free entry of navigation here, therefore, is a must for world trade to prosper. So, if there would be a “clash of nations” anywhere, this could be it.

Reading current history reveals as much. The EDCA (Enhanced Development Cooperation Agreement) between the Philippines and the USA has been radically enhanced, and two new sites of cooperation have been ominously chosen in Cagayan, a few kilometers away from Taiwan.

Our leader is open to talks for a “defense QUAD” to include the USA, the Philippines, Australia (a Visiting Forces Agreement was signed in 2007), and also Japan and even South Korea, which hosts American military bases.

Almost at the same time as China’s saber-rattling over Taiwan, America shot down a Chinese “spy balloon” hovering over its territory —in Atlanta, Montana, and Carolina and another one in an allied nation, Canada. Breaking news the other day had Beijing mouthing the same line that 10 American spy balloons were also over China.

Both the American Navy and Air Force have been saying these days that China invading Taiwan is not a matter of “if” but “when”. Including their think tanks like Rand Corporation, the conclusion is that the frightening event is projected to occur between 2024-2027. That’s closer than anyone thinks.

Taiwan is 600 kilometers away from China, but so are the Japanese islands. Taiwan (not Ukraine) is the main reason why Japan has discarded its “strategic ambiguity” and its Pacifist constitution that renounces war. It has rearmed itself at a rate never seen since World War II. Japan now spends 2 percent of its GDP on defense and is now the third largest military spender in the world. (America has a number of military bases in Japan).

Finex Free enterprise

Zoilo ‘Bingo’ Dejaresco iii America and its allies, of course, face a dilemma, according to analysts, if they confront China over taiwan. if they retreat, they will have allowed China to control the technological empire of taiwan and use it for aggressive geopolitical domination. if they do full-scale war, they will be partly to blame for taiwan’s destruction.

In the Obama and Trump eras, Washington shed off its “Robocop” mentality and had shown reluctance to deal with international disputes. The current Democrat President Joe Biden, however, is not as ambiguous as he had repeated four times recently that, doubtless, America will protect Taiwan if invaded—not even discounting the act of sending American troops.

Granting without admitting that the war combats will be isolated in the Pacific region involving the QUAD nations—Taiwan versus China (meaning no nuclear detonations and global dispersal of violence)— what has the world at large have to be wary about?

Well, Taiwan and its 12 large manufacturing companies produce 90 percent of the world’s computer microchips, the foundation of the world’s booming digital economy. “Global catastrophe” is the consequence if they are destroyed in a full-scale war.

America and its allies, of course, face a dilemma, according to analysts, if they confront China over Taiwan. If they retreat, they will have allowed China to control the technological empire of Taiwan and use it for aggressive geopolitical domination. If they do full-scale war, they will be partly to blame for Taiwan’s destruction.

The Center for Strategic and International Studies, on the other hand, believes that in that war, America, the biggest military might in the world, will be able to repel the “dragon.”

What is the best solution then —peaceful reunification or a bloody one? Some pacifists think it is neither. But the resolve of America and her allies to stand by Taiwan is a necessity.

Only by standing together in solidarity with Taiwan and foisting an imminent defeat and embarrassment for Beijing will China be deterred from carrying out its long-planned invasion of Taiwan.

Due to its too-close-for-comfort nearness to Taiwan geographically, the Philippines can be an important cog in this international chess game of varying national interests.

Though the Ukraine war is a pain in the neck, it is worldwide folly to ignore what is currently developing in Taiwan and the great superpowers involved.

A former banker, Dejaresco is a financial consultant and a media practitioner. He is a Life and media member of Finex. His views here are, however, personal and do not necessarily reflect those of Finex.

By Steve Matthews, Catarina Saraiva & Jonnelle Marte Bloomberg Opinion

Federal reserve officials stressed the need for further interest-rate increases to help tame inflation, but expressed differing views about how close they are to stopping after new data showed signs of persistent price pressures.

Several officials said Tuesday that interest rates may need to move to a higher level than anticipated to ensure inflation continues to ease.

Richmond Fed President Thomas Barkin, speaking in a Bloomberg TV interview, said that “if inflation persists at levels well above our target, maybe we’ll have to do more.”

Speaking at Prairie View A&M University in Texas, Dallas Fed President Lorie Logan said: “We must remain prepared to continue rate increases for a longer period than previously anticipated, if such a path is necessary to respond to changes in the economic outlook or to offset any undesired easing in conditions.”

They both commented shortly after data showed consumer prices climbed 6.4% in January from a year earlier, higher than economists expected and still far above the Fed’s goal for 2 percent annual inflation, which is based on a separate measure.

Philadelphia Fed President Patrick Harker, speaking later in the day, said he believes policymakers will need to raise interest rates above 5 percent and possibly higher to counter inflation that is easing only slowly.

“We’re going to have to let the data dictate that,” Harker said in an-

swering questions from the audience after a speech at La Salle University. “It’s going to be above 5 percent in the fed-funds rate. How much above 5? It’s going to depend a lot on what we’re seeing.” New York Fed President John Williams said Tuesday afternoon that having the federal funds rate in a range of 5 percent to 5.5 percent by the end of the year—as listed in Fed officials’ estimates in December—is the appropriate framing.

“I do think with the strength in the labor market, clearly there’s risks that inflation stays higher for longer than expected or that we might need to raise rates higher than that,” he told reporters, following a speech at the New York Bankers Association.  Williams said he was confident that higher rates would continue to bring inflation down toward the Fed’s 2 percent goal, but emphasized the job was not yet done.

The overall consumer price index climbed 0.5 percent in January from the previous month, bolstered by gasoline and shelter costs, the Labor Department. That was in line with economists’ expectations, but marked the biggest increase in three months.

“Inflation is normalizing but it’s

coming down slowly,” Barkin told Bloomberg’s Jonathan Ferro and Michael McKee.

While all Fed officials participate in meetings of the Fed’s policy committee, Logan and Harker are voting members this year and Barkin is not.

Williams, as New York Fed president, is a permanent voting member, along with the Fed’s seven governors.

Fed officials have been raising rates aggressively to try to cool inflation that hit a 40-year high last year.

At the start of February, they lifted their benchmark lending rate by a quarter of a percentage point to a range of 4.5 percent to 4.75 percent. That followed a half percentage-point increase at their December meeting, which came after four consecutive jumbo-sized 75-basis-point hikes.

Officials in December penciled in a peak interest rate of about 5.1 percent this year, based on the median forecast, implying two more quarterpoint increases.

Market reaction

THE S&P 500 Index fell and Treasury yields jumped following the latest inflation data. Investors now give neareven odds that Fed officials will raise rates by a quarter percentage point in June, following similar increases in March and May.

Expectations for where interest rates will peak have risen following stronger-than-expected jobs figures and continued signs of persistently high prices.

Economists at Barclays Plc. and Monetary Policy Analytics now see

the Fed lifting rates to a range of 5.25 percent and 5.5 percent.

The higher forecast “reflects our view that the Fed will need to see material slowing in labor market outcomes to convince itself that wages are on course to return to rates of increase consistent with 2 percent inflation, and that such evidence will not be evident until midyear,” Barclays economists wrote. Logan said she sees two risks to monetary policy right now: doing too little and causing an inflation comeback and doing too much and creating excess pain in the labor market. The “most important” risk is doing too little, she said.

Policymakers have been particularly worried by increases in services prices, driven in part by a shortage of workers exacerbated by the Covid-19 pandemic.

Fed Chair Jerome Powell has cautioned that an easing in a tootight labor market would be needed to cool continuing price pressures. Nonfarm payrolls increased 517,000 last month—more than twice the expectations of Wall Street—and the unemployment rate dropped to 3.4 percent, the lowest since May 1969.

There are some indications that economic growth could be more resilient than expected, or even accelerating. The Atlanta Fed’s tracker has put an early estimate of first-quarter gross domestic product growth at a 2.2 percent annualized rate, as of February 8.

“You have seen demand moving very quickly” in some sectors, Barkin said.

UN chief: Rising seas risk ‘death sentence’ for some

By Edith M. Lederer & Jennifer Mcdermott | The Associated Press

UNITed NaTIONS—The United Nations chief warned Tuesday that global sea levels have risen faster since 1900 and their relentless increase puts countries like Bangladesh, China, India and the Netherlands at risk and acutely endangers nearly 900 million people living in low-lying coastal areas.

In a grim speech to the Security Council’s first-ever meeting on the threat to international peace and security from rising sea levels, Secretary-General Antonio Guterres declared that sea levels will rise significantly even if global warming is “miraculously” limited to 1.5 degrees Celsius (2.7 degrees Fahrenheit), the elusive international goal.

He warned the Earth is more likely on a path to warming that amounts to “a death sentence” for countries vulnerable to that rise, including many small island nations.

In addition to threatened countries, Guterres said, “mega-cities on every continent will face serious effects, including Cairo, Lagos, Maputo, Bangkok, Dhaka, Jakarta, Mumbai, Shanghai, Copenhagen, London, Los Angeles, New York, Buenos Aires and Santiago.”

The U.N. chief stressed that every fraction of a degree in global warming counts, since sea level rise could double if temperatures rise by 2 degrees Celsius (3.6 degrees Fahrenheit), and could increase exponentially with further temperature increases.

The World Meteorological Organization released data Tuesday spelling out the grave danger of rising seas, Guterres said.

“Global average sea levels have risen faster since 1900 than over any preceding century in the last 3,000 years,” he said. “The global ocean has warmed faster over the past century than at any time in the past 11,000 years.”

According to the data cited by Guterres, the global mean sea level

wards it.”

stitutions and multilateral banks” to lower the lending risk and provide more private financing for “vulnerable communities.”

Al-Jaber called on the world to triple its renewable energy capac-

ity, as well as expand nuclear power, improve battery storage and provide carbon-capture technology. He also drew applause from the largely Emirati audience by defending the Opec-member nation hosting the climate talks.

“We in the UAE are not shying away from the energy transition,” al-Jaber said. “We are running to-

Each year, the country hosting the U.N. negotiations known as the Conference of the Parties—where COP gets its name—nominates a person to chair the talks. Hosts typically pick a veteran diplomat as the talks can be difficult to steer between competing nations and their interests.

will rise by about 2 to 3 meters (about 6.5 to 9.8 feet) over the next 2,000 years if warming is limited to 1.5 degrees Celsius. With a 2-degree Celsius increase, seas could rise up to 6 meters (19.7 feet), and with a 5-degree Celsius increase, seas could rise up to 22 meters (72 feet), according to the WMO.

“Our world is hurtling past the 1.5-degree warming limit that a livable future requires, and with present policies, is careening towards 2.8 degrees—a death sentence for vulnerable countries,” Guterres said.

The consequences are unthinkable, Guterres said. Low-lying communities and entire countries could disappear, the world would witness a mass exodus of entire populations on a biblical scale, and competition would become ever fiercer for fresh water, land and other resources.

Guterres has been trying to call the world’s attention to the dangers posed by climate change, to spur action.

In October, he warned that the world is in “a life-or-death struggle” for survival as “climate chaos gallops ahead” and accused the world’s 20 wealthiest countries of failing to do enough to stop the planet from overheating. In November, he said the planet is heading toward irreversible “climate chaos” and urged global leaders to put the world back on track to cut emissions, keep promises on climate financing and help developing countries speed their transition to renewable energy.

The landmark Paris agreement adopted in 2015 to address climate change called for global temperatures to rise a maximum of 2 degrees Celsius

The nominee’s position as “COP president” is confirmed by delegates at the start of the talks, usually without objections. However, activists’ ire over al-Jaber’s selection could see a turbulent start to the negotiations.

Amnesty International on Monday reiterated a call for al-Jaber to resign as president-designate and

“Our world is hurtling past the 1.5-degree warming limit that a livable future requires, and with present policies, is careening towards 2.8 degrees—a death sentence for vulnerable countries,” Guterres said.

by the end of the century compared to pre-industrial times, and as close as possible to 1.5 degrees Celsius.

Guterres said the world must address the climate crisis as the root cause of rising seas, and the Security Council has a critical role to play in building the political will required.

The Security Council meeting, organized by Malta, which holds the council presidency this month, heard speakers from some 75 countries, large and small, endangered and landlocked, all voicing concern about the impact of the continuing rising seas on the future of the world—and for some, the survival of their own countries.

Samoa’s UN ambassador, Fatumanava-o-Upolu III Pa’olelei Luteru, speaking on behalf of the Alliance of Small Island States which he chairs, told the council: “There is a litany of new examples of the sudden and slow onset impact of climate change on small islands, from king tides, to super hurricanes to the unstoppable and unprecedented rise in sea levels.”

The impact on people and the economies of the islands “will continue to be extraordinary,” he said, raising issues of their survival and continuation as states.

Alliance members “are among the lowest emitters of greenhouse gases that drive climate change and sea level rise. Yet, we face some of the most severe consequences of rising sea levels,” Lutero said. “To expect small island state to shoulder the burden of sea level rise, without assistance from the international community will be the pinnacle of inequities.”

criticized plans by the Abu Dhabi National Oil Co.’s drilling arm to pump more oil as it saw record profits last quarter.

“Sultan al-Jaber cannot be an honest broker for climate talks when the company he leads is planning to cause more climate damage,” Amnesty’s Marta Schaaf said in a statement. “It is obvious, despite

He said that cooperation to address rising seas is “a legal obligation” for every country, and that there is an urgent need for nations to fulfill their international commitments on climate change and finance.

Ambassador Amatlain Kabua of the Marshall Islands said many of the tools to address climate change and rising seas are already in from of the Security Council, and “more focused action from the international system can be invited.” But she said, “What is needed most in the political will to start the job, supported by a UN special representative” to spur global action.

US Ambassador Linda ThomasGreenfield said that “the threat of sea level rise is real, it is a direct result of our climate crisis, and it is a matter of international peace and security.”

“The council must take action,” she said, pointing to the threat of hundreds of millions in low-lying coastal areas losing their homes, livelihoods and communities.

“Fortunately, the worst impacts can be avoided, but we have to act now, and we have to act together,” Thomas-Greenfield said.

General Assembly President Csaba Kőrösi said, “At the current rate, sea levels will be 1 to 1.6 meters higher by 2100, according to the World Climate Research Program.”

“In the Nile and Mekong Deltas— some of the richest agricultural regions in the world—10 to 20 percent of arable land will sink beneath the waves,” he said.

“Climate induced sea-level rise is also provoking new legal questions that are at the very core of national and state identity. What happens to a nation’s sovereignty—including UN membership—if it sinks beneath the sea?” he asked.

“Science tells us that whether cities or countries disappear depends on whether we as humans counteract the threat,” Kőrösi said. McDermott reported from Providence, R.I.

Sultan al-Jaber’s denials, that his dual role is a glaring conflict of interest which will contribute to further climate disaster and unfolding human rights violations.”

COP28 will be held at Dubai’s Expo City from November 30 through December 12. Associated Press writer Wanjohi Kabukuru in Nairobi, Kenya, contributed to this report.

Cutting logistics cost, investing in energy to beat inflation–DTI

By Andrea E. San Juan

cost of logistics from the current 27 to 30 percent of cost of produce ...that will be a big drop in the cost to consumers of Agricultural products, for example.”  Pascual said he is “upbeat” that the country can overcome the rising prices of goods as there are programs or factors within control

that the Philippines can work on.

A mong the programs cited by Pascual is the Logistics Efficiency and Transport Seamlessness to Enhance Agribusiness Trade (LETS EAT Program), that is “highly focused” on improving road infrastructure along truck routes which are used to transport

food and agribusiness products to markets, manufacturing centers, ports and airports, and logistics facilities such as warehouses and cold chain storages.

A nother program is the Logistics Efficiency and Transport Seamlessness for Growth Outcomes (LETS GO), a “convergence” program with the Department of Transportation (DOTr).

I n a statement on December 2022, the trade department said this program will identify logistics-related infrastructure such as ports, airports and rail that DOTr will prioritize and implement to help increase trade, reduce logistics costs, and improve efficiency.

T hese two programs were among the agreements Pascual inked in December. However, the Trade chief noted that these programs cannot be completed within

the year due to “physical impossibility” given the limited resources and the available budget for the purpose. There is a program, a food logistics plan, which covers a three-year period, though. P ascual said another means to combat inflation is to ensure that the country will get investments into the local power or energy sector.

“

The other solution that we are doing is making sure we get investments into our power sector, energy sector. In Japan, for example, there were commitments or pledges made for investments in renewable energy,” Pascual said.

T he Trade chief referred to the investment of Tokyo Gas Co. Ltd., in partnership with First Gen Corp., in a liquefied natural gas (LNG) terminal in the Philippines.

Senate

leaders send strong push for RCEP

THE Senate on Wednesday moved to fast-track ratification of the Regional Comprehensive Economic Partnership Agreement (RCEP), with the chamber’s two top leaders strongly endorsing it on the floor.

S enate President Juan Miguel Zubiri delivered an impassioned speech reminding his colleagues the Philippines is “the odd man out, the last man standing” in RCEP, being the only signatory country that has not ratified what is touted the  world’s biggest free trade area. “Let’s ratify this not out of fear,” he said, but out of hope that it will deliver on its promises despite fears it will gut some local producer sectors.

S enate President Pro Tempore Loren Legarda, also vice chair of the Foreign Relations panel, endorsed to plenary the committee report on RCEP, recalling how ASEAN leaders affirmed the ASEAN Framework for RCEP in November 2011.

T hen, leaders of the 10 ASEAN member states and their six ASEAN Free Trade Agreement partners (Japan, China, Australia, New Zealand, South Korea and India) officially launched RCEP negotiations November 2012 when the 21st ASEAN Summit and Related Summits were held in Phnom Penh, Cambodia.

I n a span of eight years, serious RCEP negotiations were spearheaded by the Department of Trade and Industry, bearing the patronage of consulted sectors, Legarda noted.

T he senator recalled  “there was a total of 28 full rounds of RCEP negotiations, eight regular and 10)intersessional Ministerial Meetings that were convened over a period of eight years.”

On top of these, four RCEP Leaders’

Summits held, and at the 4th RCEP Summit on November 15, 2020, the RCEP Agreement was signed.

Now, 12 years after launching the RCEP,” Legarda said, “we are still asking ourselves: Do we need it?”

The senator added: “RCEP’s rich historical antecedents and claims on its benefits, on the other hand, begs the question, Why not?”

Legarda said she would “be the first to argue, however, that the number of years spent in one’s study or negotiation of international instruments, such as the RCEP, does not define the quality of a treaty.”

W hat defines a good treaty for each participating country, she said, “are its principles and goals that are given life through informed and carefully weighed commitments, and vigorous capacity-building measures and safeguards to address the peculiar circumstances of each participating member economy, including their respective economic sectors that are struggling to deal with various forms of barriers that inhibit growth – barriers that hinder their participation in cross-border trade and global value chains.”

S aying she  had “carefully weighed the risks of RCEP vis-àvis the benefits that it will bring to our people,” she underscored the following:

■ Based on 2020 data, the RCEP free trade area accounts for 29 percent of the world’s trade, 29 percent of world’s GDP, 33 percent of global inward Foreign Direct Investments (FDI), 47 percent of global outward FDI, and 2.3 billion population (29 percent of the world’s population). Can we afford to dismiss the opportunities offered by this regional market?

PRESIDENT Ferdinand R. Marcos Jr. on Wednesday pronounced that the Philippines will be “close” to achieving its decades-long dream of selfsufficiency in rice in just two years through a “major reorganization” of key bureaucracies.

I n a statement, Marcos emphasized that the rice self-sufficiency goal would materialize if the government can “carry out reorganization involving different agencies.”

M arcos made the pronouncement after a meeting at Malacañang with officials of the Department of Agriculture (DA) and the National Irrigation Administration (NIA).

M arcos concurrently serves as the country’s agriculture secretary.

From that discussion, we have begun to put in the timetable of what are the things that we need to do. And [from our] calculation, if we can do all that we need to do —because there’s a lot we need to fix, a lot to reorganize—but if we can do all of that, we will be close to self-sufficiency for rice in two

years,” the Chief Executive said, speaking partly in Filipino.

There’s a great deal of work to do but now we can see what it is we must do. So that’s what we will work on for now,” he added.

M arcos said the planned reorganization requires “cooperation, convergence and coordination” between key agencies such as the DA, NIA, Department of Public Works and Highways (DPWH) and the National Economic and Development Authority (NEDA).

“ So our next meeting will be that. All concerned agencies are there and we will present the timetable as to what needs to be done, what forms of coordination need to be done,” he said.

M arcos has also approved the adoption of hybrid rice nationwide to boost rice productivity, especially in farms still using inbred varieties.

M arcos met with hybrid rice seed firm SL Agritech Corp., which proposed the adoption of hybrid rice seeds in rice farming areas

using certified seeds.

M alacañang said Marcos agreed to implement a program “to promote the shift by providing subsidies and facilitating loan financing to farmers.”

T he planting of hybrid rice, Malacañang said, would complement the government’s rice competitiveness enhancement program that seeks to boost rice productivity and income of rice farmers in key palay-producing provinces.

To complement the RCEF, the government has been implementing strategies to increase rice production, such as convincing irrigators associations (IA) and farmers to plant hybrid rice seeds, adopting alternate wetting and drying as a water-saving technology for irrigated lands, harvesting in September during the wet season, and ratooning after harvesting during the wet season,” it said.

T he national government is also keen on accelerating the rate of expanding irrigation infrastructure development in the country.

M alacañang noted that as of December 31, 2021, only 2.04 million hectares (ha), or 65 percent of the country’s potential irrigable area of 3.13 million hectares, had been developed, benefitting around 1.5 million farmers with irrigation.

M alacañang added that NIA is “implementing several measures to develop the Philippine irrigation infrastructure.”

T he Philippines’ rice self-sufficiency level in 2021 declined to 81.5 percent from 85 percent in 2020. The last time the Philippines posted 100-percent self-sufficiency in rice was in 1995, a few years before the country acceded to the World Trade Organization and allowed the entry of rice imports through a quota system.

S ince 1995, the Philippines has been importing rice and selfsufficiency in the staple was never attained again. The closest year that the Philippines was reaching rice self-sufficiency was in 2013, at 96.8 percent rate.  Jasper Emmanuel Y. Arcalas

THE Philippines will be able to beat inflation with programs on logistics in place and investments secured for the energy sector, according to Trade Secretary Alfredo E. Pascual.

Editor: Jennifer A. Ng

Companies

Thursday, February 16, 2023

‘Boracay property broadens income profile mix of FILRT’

By VG Cabuag @villygc

leasable area of 29,086 square meters and increased FIlRT's portfolio gross leasable area by more than 9 percent.

The property is located at Station Zero, which is in the more exclusive section of Boracay and has its own private beach front.

Maricel B. lirio, FIlRT president and CeO, said the company is focused on diversifying its portfolio to boost dividends for its shareholders while improving the revenues of its existing prime office assets.

“The acquisition of the Boracay property not only expanded FIlRT's asset types, but also broadens its income profile, allowing us to diversify beyond office leasing-driven busi-

ness districts and into hospitality,” lirio said.

FIlRT said in November that it has bought the 2.9 hectares of land owned by Filinvest Development Corp. (FDC) in Boracay Island for P1.05 billion in cash.

The land is being leased by Boracay Seascapes Inc., the building owner of Crimson Boracay and a unit of FDC. The property has gross

FR eIT Fund Managers Inc., which discloses the company’s quarterly performance, said the company’s strategy is to expand in key central business districts in Metro Manila and towards major regional hubs or key cities in the Philippines with high and stable occupancy from income-generating prime real estate properties.

“New asset acquisitions will continue to focus on Grade A commercial properties and will expand beyond office leasing to include the addition of retail, leisure, residential and industrial properties into its portfolio,” it said.

The acquisition of the Boracay property is a key step towards the direction the company has expressed in

its latest investment strategy, it said.

Filrt was able to deliver a 7.35 percent dividend yield for its investors, based on total dividends paid in 2022 on year-end closing price of P5.50 per share.

The company was able to sustain its occupancy and rental rates per square meter and was well above the industry rates in locations where the properties are located, namely in Alabang and Cebu.

Meanwhile, at the company’s regular board meeting on February 14, its board approved the declaration of P0.071 per outstanding common share in cash dividends.

This brings the total dividends declared to P0.363 based on the cut-off period for year 2022 and translates to an annualized yield of 6.6 percent based on the closing market price at P5.50 per share as of December 29. The cash dividends will be payable on March 24, to stockholders on record as of March 3, the company said.

Meralco builds Cavite substation

By Lenie Lectura @llectura

The Manila e l ectric Co.

(Meralco) is constructing a new substation in Kawit, Cavite to address the power requirement of the residential and industrial customers in the area.

Meralco and solutions provider First Orient International Ventures Corp. (FOIVC) recently signed an agreement for the construction of a Gas-Insulated Switchgear (GIS) substation on a 2,377-square meter land bank in Island Cove. The substation, which is to be completed by April 2024, will house three transformer banks, each capable of delivering 83 megavolt amperes (MVA) of power or a combined capacity of 249 MVA.

Once fully operational, the project will address the power requirement of Island Cove, and at the same time improve voltage regulation in the area and guarantee operational switching flexibility when needed. In addition, it will accommodate new load applications and relieve the critically loaded circuits of existing Meralco substations in the area.

“This Meralco Island Cove Substation will be an integral part of the Meralco Distribution System in Cavite, supporting not just Island Cove’s power requirements, but also that of the communities around Kawit and Bacoor, Cavite.

The lot donation of the FOIVC group, where the substation is being built, is an enormous help for Meralco’s continuing efforts to deliver reliable power to our customers,” said

Meralco First Vice President, Chief Commercial Officer, and head of Customer Retail Services Ferdinand O. Geluz.

The development of the new and state-of-the-art substation is a testament to the power distributor’s commitment to supporting economic growth through delivering continuous, adequate, reliable, and efficient electric service according to Meralco Senior Vice President and head of Networks Ronnie Aperocho.

“We continue to encourage companies to closely work with Meralco for their energy requirements to ensure not just the timely energization of facilities, but also the right infrastructure that can efficiently and sufficiently support their operations and the growing need of their neighbor communities."

SEC starts investment roadshow in Davao

The Securities and e x-

c hange Commission (S e C ) kicked off its nationwide roadshow in Davao on Wednesday in its bid to bring the capital market closer and more accessible to micro, small and medium enterprises (MSM e s).

More than a hundred officials and executives of MSM e s gathered at the Pinnacle h o tel in Davao City for the start of the S e C R oadshow on Capital Market Formation for MSM e s and Start-ups.

Attendees included companies, national government agencies such as the Mindanao Development Authority and the Department of Trade and Industry 11, as well as local government units, including the Province of Cotabato.

The MSM e network currently accounts for 99.5 percent of total businesses in the country. It hires 63 percent of the local workforce, constitutes 25 percent of the country’s total exports, and contributes around 40 percent to the national gross domestic product.

“ h o wever, 67 percent of our MSM e s are still experiencing credit constraints. Most of them rely on internal resources for their capital needs. While those who apply for traditional bank loans face tedious documentation, high interest rates, and mandatory col-

lateral requirements,” S e C Chairman e m ilio B. Aquino said in his keynote speech.

h e nce, in our bid for financial inclusion, we recognize that there really is a need to broaden the financing instruments available for MSM e s ."

The roadshow presented crowdfunding, among others, as an easy and accessible way for MSM e s and start-ups to raise funds for business expansion.

Crowdfunding is a fundraising activity typically conducted by start-ups and SMe s, where the public can support or fund a business idea through an online platform.

An S e C memorandum circular released in 2019 states that SM e s no longer have to register securities with or secure approval directly from the S e C before they can solicit investments from the public. SM e s need only conduct their fundraising activity with a crowdfunding intermediary, funding portal, or crowdfunding

platform registered with the S e C

There are currently three registered crowdfunding intermediaries registered with the S e C Investree Philippines, SeedIn Technology Inc., and e a stern Securities Development Corp. (Round One).

As of December, a total of 205 registered issuers have successfully raised capital through the platforms of Investree and SeedIn Technology. SeedIn Technology’s platform alone has seen a total of P1.34 billion raised to fund 259 projects during the same period.

e x ecutives from Investree Philippines, SeedIn Technology and Round One discussed the advantages of crowdfunding and how MSM e s and start-ups can avail of their services during the roadshow. MSM e s were then given an opportunity to consult with their officials during break-out sessions.

“[The roadshow] will surely make opportunities more accessible for micro, small and medium enterprises that may lead toward their growth and expansion. We appreciate [the S e C ’s] efforts to help small business owners resume their operations as they recover from the pandemic’s efforts,” Davao City Mayor Sebastian Z. Duterte said in his message. VG Cabuag

B1

PAL resumes direct flights to Shanghai

By Lorenz S. Marasigan @lorenzmarasigan

Fl AG carrier Philippine Airlines (PA l) has resumed its commercial flights to top destinations in China, almost three years after it was forced to pause its Chinese operations due to the pandemic.

PA l President Stanley K. Ng said PA l has started mounting direct flights to Shanghai and will soon relaunch its services to Beijing, Jijiang, and Macao.

“We hope that our relaunch of flights to Beijing and Shanghai will help fuel a rebound in tourist and business travel. Our goal is to once again operate the largest network of flights on multiple routes between mainland China and the Philippines,” Ng said.

The carrier is also beefing up existing flights to Xiamen and Guangzhou.

Mainland China was the second largest source of tourists to the Philippines with 1.74 million Chinese residents visiting in 2019.

PA l initially resumed its Manila-Shanghai flights through a

thrice-weekly service, which will be increased to seven flights per week starting March 26.

Meanwhile, the legacy airline will operate the Manila-Beijing route two times per week starting February 21 and will be increased to four weekly flights come March 26.

It will also start offering daily flights between Manila and Jinjiang and will restore its twiceweekly service between Manila and Macao starting March 26.

PA l is increasing its ManilaXiamen frequency from once weekly to three times weekly starting from February 25; and its Manila-Guangzhou-Manila flights from once to twice weekly starting February 16, and progressively increasing to daily flights starting on March 26.

“We are forging ahead with the restoration of PA l’s Greater China flight network, an investment that will strengthen our connections to the economic hubs in the mainland and help boost bilateral relations between the Filipino and Chinese people,” Ng said.

Filinvest Reit Corp. (FilRt), the real estate investment trust of the Gotianun’s Filinvest Group, on Wednesday said its acquisition of Crimson Resort and spa in Boracay has broadened its income profile mix beyond office leasing.

Treasury raises ₧283.711B on strong demand for RTBs

THE national government successfully raised P283.711 billion from its one-week long tender of 5.5-year retail treasury bonds (RTBs), according to the Bureau of the Treasury.

The amount borrowed by the national government from the domestic debt market exceeded its P30 billion target for the 29th tranche of RTBs by more than nine times.

“We capped at P250 billion but given strong demand we accepted more. It is a decision to reduce volume compared to last year. So we even closed earlier than schedule,” National Treasurer Rosalia V. De Leon told reporters after the auction on Wednesday.

De Leon noted that P31.671 billion of the total amount raised from RTB-29 came from switch tender offers.

The amount raised from RTB-29, which is the second offering under the Marcos administration, was lower by a third from RTB-28 in September 2022 that raised P420.45 billion despite having a higher coupon rate.

The coupon rate of RTB-29 settled at 6.125 percent compared to the 5.75 percent coupon rate of RTB-28.

Nonetheless, RTB-29’s coupon rate was slightly higher than the secondary market benchmark rates of 5.839 percent for 5-year tenor and 5.913 percent for 6-year tenor.

Last week, De Leon noted that RTBs have become “integral part” of the national government’s fund-

ing operations.

“Retail issuances have been a pivotal contributor to meeting our overall funding responsibilities as 38 percent of our outstanding government securities are retail instruments,” De Leon added.

The National Treasurer noted that the national government is keen on borrowing more from the domestic debt market than from abroad to protect the country from “adverse effects” of exchange rate risks.

This year the national government is eyeing to borrow a total of P2.21 trillion, about P1.65 billion of which will come from the domestic debt market.

The National Treasurer also pointed out that the BTr continues to make “strides” in bringing opportunities closer to retail investors through digitization that streamline the processes in investing in government securities like RTBs.

“RTB-29 reflects our desire to forge closer ties with our investors,” De Leon said.

“It is also an affirmation of the Treasury’s signature offering carefully strengthened for almost 22 years of arduous endeavor toward a more efficient retail market and smart choice of investment,” she added.

De Leon disclosed that the Treasury has raised P4.8 trillion throughout the 28 tranches of RTBs since its inception in 2001.

Jasper Emmanuel Y. Arcalas

Bayad, financial consulting firm target remittances

CIS Bayad Center Inc. announced having sealed a partnership with financial management service Omega Business Consulting Inc. (Omega BCI) to integrate the firm’s eponymous bills-payment platform with the latter’s web-based application.

Omega BCI is a financial management service provider that delivers a suite of accounting, auditing, data processing and software services to its local and international clients in the retail, banking and fintech space.

Under the partnership, Bayad will continue to boost the bills payment capability of Omega BCI through its webbased application called “Paymybills.”

Today, over 91 billers are already onboarded on the said platform, covering payments for electric and water utility, cable and internet, government contributions, loan payments, school tuition fees, online shopping, insurance and many others.

“Paymybills was borne out of the need to help OFWs conveniently pay for their families’ bills back home and at the same time help them settle for government contributions, enabling them

‘PhilHealth cash pile sufficient sans increase in contributions’

By Jasper Emmanuel Y. Arcalas @jearcalas

said expenses of the agency.

The PhilHealth’s total fund also includes the P21 billion remitted by the Philippine Amusement and Gaming Corp. and the Philippine Charity Sweepstakes Office to the agency as mandated by the Universal Healthcare (UHC) Act.

PhilHealth officials pointed out that the P21 billion remittance is already more than enough to offset the losses from the suspension of the implementation of the provision of Republic Act (RA) 11223 (UHC Act) mandating the increase in premium contribution.

the P5.609 billion it posted in the same period of 2021.

The latest financial statement of PhilHealth showed that the increase in net income was due to higher premium contributions last year and lower benefit claims expenses.

Despite the suspension of its premium contribution hike and income ceiling, PhilHealth officials said they will push through with the roll-out of at least two new packages this year: the out-patient therapeutic care for severe acute malnutrition and outpatient mental health benefit.

The officials even went on to say that PhilHealth will survive even if the suspension on the increase of premium contribution and income ceiling would be implemented until next year given the “robust” cash position of the agency.

PhilHealth Acting President and CEO Emmanuel R. Ledesma Jr. touted the current cash position of the agency and its “unprecedented” net income last year, which he estimated could have closed at P50 billion.

“We have an unprecedented cash position. It is close to P400 billion,” Ledesma said during a news conference last Wednesday. “And our net income [last year] was nearly P50 billion already, which is also unprecedented.”

He said he wants to “assure [the public] that the benefits will not just continue but they will even improve this year.”

to save and invest for their future. Our partnership with Bayad, excites us as we amplify our shared passion of helping our kababayans whether locally and globally. The greatest service we can give our stakeholders is not just to share our resources but to enable them to effectively manage their finances. Our aim is to empower people,” Omega BCI President and CEO Emmanuel Masangkay was quoted in statement as saying. “We need to help Filipinos level up.”

From his humble beginnings as an OFW in Papua New Guinea, Masangkay knows very well the value of hard-earned money, which is also the lifeblood of Bayad’s business.

“We share a collective vision with Omega BCI in elevating the quality of living of our compatriots. All our efforts in Bayad are directed towards the belief that Filipinos deserve to be rewarded for their hard work. We strive to go beyond just providing payment services by empowering families to strengthen their relationships as we drive for borderless financial inclusion,” Bayad President Lawrence Y. Ferrer was quoted in the same statement as saying. Rizal Raoul S. Reyes

“They will not be affected but they

will even be better,” the PhilHealth chief added.

Ledesma also disclosed the government-owned and controlled corporation has estimated that the suspension of the premium contribution and income ceiling would mean an opportunity loss of about P17 billion.

More than enough

PHILHEALTH officials emphasized that the agency’s current budget this year is more than enough to offset the estimated opportunity loss.

PhilHealth Senior Vice President for Fund Management Renato L. Limsiaco Jr. explained that the agency has P221 billion in operating budget, of which P204 billion would go to benefit payments while the P17 billion is allocated for the konsulta package program.

Limsiaco said the benefit-payments budget is higher than the P140 billion “usual budget” for the

An Isla Lipana & Co. article explained that under the law, PhilHealth contributions are to increase yearly, starting in 2020, when they were due to rise 3 percent, followed by 3.5 percent in 2021, 4 percent in 2022, 4.5 percent in 2023, until the increases hit 5 percent in the years 2024 to 2025.

Limsiaco also disclosed that they project that PhilHealth’s net income this year would settle at P25 billion, already taking into account the P17billion opportunity loss. He noted that they earlier estimated a net income of P42 billion. That was before President Ferdinand R. Marcos Jr. ordered the suspension on the hike in premium contributions.

“We have very strong income and very, very healthy and robust cash flow,” Ledesma said.

Two new packages

AS of end-September 2022, PhilHealth’s net income already reached P46 billion, 721 percent higher than

For one, PhilHealth will be expanding its hemodialysis package to a total of 156 sessions, allowing beneficiaries to take the maximum recommended sessions per week all year round.

PhilHealth officials also disclosed that the state-run agency is rationalizing select in-patient case rates such as those for moderate and high risk pneumonia and acute stroke (both ischemic and hemorrhagic). PhilHealth will also enhance its Z benefit packages that involve orthopedic implants, kidney transplantation, breast, cervical and prostate cancers, among others.

PhilHealth is also rationalizing its Covid-19 benefit packages in accordance with the updated pandemic protocols, which could result in a lower or higher amount of benefit under the packages.

Nonetheless, the officials assured the public that they will have the “interest of the Filipino people at heart” in rationalizing PhilHealth’s benefit packages.

‘Bank’s digitalization push must consider customers’

By Rizal Raoul S. Reyes @brownindio

CUSTOMERS should manage expectations on the digitalization efforts of banks and financial institutions and realize that they will not experience flawless transactions all the time, executives of a data analytics company focused on credit scoring services.

“The secret is that sauces need to be simple. For the customer, it has to be fast and relevant,” Aashish Sharma, Senior Director of Decision Management Solutions for Fair Isaac Corp. (FICO) in Asia Pacific said in a recent webinar for business journalists in Southeast Asia.

According to Sharma, the onus is on banks, which must also pur-

sue segmentation for customers to ensure better processing of their needs and requirements. He added banks could do it for certain portfolios. In terms of technology application, Sharma cited machine learning that could be used for verification.

Sharma said it is also quite important for the banks to get the feedback of the customers on their digitalization plans and provide time to enable their clients to get familiar with their new technologies.

“There has to be a certain period for learning. Technology has to enable the changes for customers. It is vital for traditional banks to help customers handle the situation. Banks should also bring the technologies they can deploy to

help the customer in their personal journey,” Sharma said.

Market needs

SHARMA said it is also important for banks to realize that today’s customers demand convenience and personalization in their preferred channel. He said banks and service providers must deliver “fast, frictionless, engaging digital-account opening experiences.”

“Moreover, they need to be agile, future-proofed, and provide extensible solutions for business users,” he added.

Trust Bank Chief Risk Officer Lalit Lohia, meanwhile, said that aside from customers, it should be noted that markets have different needs.

“Markets like the Philippines

and Thailand have different needs and customers will buy into what they need. You have the right offer to the customer and they will buy it. You have to be truly digital,” Lohia said.

He said the Philippine experience is different from the Singaporean situation as the latter is more advanced in digital banking.

Nonetheless, Lohia said the Philippine banking system has “a vibrant ecosystem” for fintechs, which benefits the country in the long term. He added the movement of money in the Philippines needs to be sent faster.

Lohia noted that the country’s young population, composed of digital natives, is helping the financial sector in its digitalization push.

How understanding your credit score leads to greater financial inclusion

By Amrita Mitra

CREDIT is defined as the ability to obtain goods or services before payment, based on trust that payment will be made in the future. While it helps empower people to buy a house, a car, or start a business, having access to credit also comes with major responsibilities that need to be understood before proceeding, as managing these responsibilities can affect a person’s credit score.

A credit score is a 3-digit number that represents an individual’s ability to manage financial obligations that is calculated based on a credit report, which is a comprehensive summary of a person’s credit history. This includes information on items like account balances, payments maintained and missed, and other elements like employment status. Together, this information serves as the basis for determining a person’s credit score.

Credit scores, along with wider information collated as part of the credit application process, are used by lenders to make informed lending decisions aligned to their risk and underwriting criteria.

In the Philippines, credit scores

range from 300 to 850, with 850 being the highest rating. The higher the number, the easier it is for an individual to access various financial services, credit options, and favorable interest rates, as banks and other financial institutions use these scores to assess an applicant’s ability to pay back debt.

TransUnion recently conducted global research into the credit behavior of both unserved and underserved consumers. Unserved consumers are people who have never had traditional credit products, while underserved consumers have minimal credit participation usually limited to a single product. Findings from the Philippines show that 51 percent of unserved consumers and 52 percent of underserved

consumers expected their credit needs to increase within the next three to five years.

Asked about their plans to apply for credit this year, 39 percent of unserved consumers and 51 percent of underserved consumers in the Philippines expressed their intent to do so. This material proportion of both consumer groups indicates a real interest in credit—which makes credit education an important step towards achieving greater financial inclusion.

As the need for credit access grows, it’s important to debunk certain myths surrounding credit scoring in the Philippines and why they are not true in today’s financial landscape.

Myth #1: You need credit history to have a credit score. While access to credit does come easier to consumers with an established financial footprint, more opportunities have arisen to bring more unbanked Filipinos into the formal financial system.

A TransUnion Consumer Pulse Study conducted from May 26 to June 7, 2022 showed that 54 percent of Filipino consumers believed their credit scores would increase if credit scoring included information not found in a

standard credit report. With around 70 percent of unbanked Filipinos in possession of a mobile phone, each device contains an abundance of data which can be analyzed to show creditworthiness, affordability, and behavioral insights.

TransUnion solutions utilize alternative data—including publicly available data from mobile phones and devices—such as reloads, payments, and mobile data usage. Based on those alternative purchasing and repayment insights, TransUnion can provide credit scores to lenders to help them assess the risk of extending loans, credit, and even insurance products to previously unbanked consumers.

Myth #2: The higher the credit limit, the lower the credit score. Increasing your credit limit won’t necessarily hurt your credit score. In fact, requesting a credit increase might even improve it.

This depends on your credit utilization ratio—the amount you owe in comparison to your credit limit (and how well you repay the credit you use).

The lower the ratio, the better your credit score. Increasing your credit limit lowers your credit utilization ratio. If your spending habits stay

the same, your credit score could improve. However, drastic increases in spending coupled with an increased spending limit could risk negatively impacting your credit score.

Things that increase the likelihood of a credit increase request being successful include factors such as getting a raise in income, having a high credit score or a history of regular bills payments. On the other hand, a low credit score can serve as a deterrent for approval. If your credit score needs improvement, consider boosting your credit score before requesting a credit increase.

Myth #3: You can’t improve a bad credit score.

Credit scores aren’t static. They change when the information used to generate a credit report changes. This means that it’s possible for anyone to take control of their financial health and do things that can positively impact their credit score.

Those wanting to improve their credit score need to understand what contributes to calculating it. Factors include your payment history, how much of your credit limit you use, the length of your credit history, types of credit used, and how often you apply for new credit products or

open new accounts. This is where the importance of credit monitoring comes in. Credit monitoring is the process of routinely reviewing your credit score, credit history, and credit reports. Additional findings from the TransUnion Consumer Pulse Study show that 95 percent of Filipinos believe in the importance of credit monitoring, with 53 percent monitoring their credit at least once a week.

Through regular credit monitoring, consumers can ensure their credit history is accurate, identify opportunities to improve their credit scores, and prevent falling victim to fraud.

While credit scoring may seem complex, financial institutions must play an important role in educating consumers to understand how credit can work for them. By showing how both unserved and underserved Filipino consumers can build and improve their credit profiles, more consumers can become actively engaged in the credit system—leading to greater financial inclusion for more Filipinos.

Amrita Mitra is the Chief Operating Officer of TransUnion. The views she expressed herein do not necessarily reflect those of the BusinessMirror’s.

questions to

ALLAYING concerns of the public, Philippine Health Insurance Corp. (PhilHealth) officials said the state-run insurer has sufficient cash pile to enhance existing packages and even roll out new ones sans the increase of its premium contribution this year.

Gov’t urged to tap non-passers of nursing licensure exam to help ease nurse shortage

By Rizal Raoul S. Reyes Contributor

“Why not tap the non-passers of board examinations? They have the training and the background. They know pharmacology, they have the know-how to handle patients in the intensive care unit [ICU],” Dr. Teresita Barcelo said during the latest edition of Pandesal Forum in Quezon City.

“Why not utilize this rich resource? But this needs supervision of a licensed nurse. We welcome this short-term solution because we think the shortage will last for a while as long as we are not giving our nurses the appropriate attention and benefits,” Barcelo added.

She said the country’s global reputation as a major supplier of nurses has created an artificial shortage which has drastically affected the country’s health-care system. Barcelo stressed that the failure to address this serious problem might result in the closure of some hospitals.

Exacerbated by migration

BARCELO said the nursing problem has been exacerbated by migration. She said recruiters are now more blatant as they go directly to the hospitals to recruit the nursing staff to work with them. They also offer students scholarships and jobs in their countries once they pass and

become licensed nurses.

She urged caution on the government’s plan to substitute the nurses with lower ranked personnel who are going to be trained in the government-controlled Technical Education and Skills Development Authority (TESDA).

“This short-term solution might create problems in the future as they don’t have the qualifications of a registered nurse to give the essential care,” Barcelo emphasized.

“For us, this is a positive solution rather than coming up with a two-year TESDA trained nurse. I fear the quality might suffer. The attrition rate in government and private hospitals has quadrupled from 2018 to 2022. In 2019 it was between zero to 7 percent. In  2022, it was 16 percent for government hospitals while private hospitals had a high of 40 percent,” Barcelo explained.

Push the panic button

In the same forum, Dr. Carl Balita said the country needs to push the panic button already because the feared and unethical migration is happening right now in the country.

“The World Health Organization [WHO] and the International Council of Nurses declared that it

is unethical for developed countries to be recruiting and siphoning or poaching of nurses and health professionals of developing countries like the Philippines at the expense of its own human resource.  That’s the very clear policy of the WHO and the International Council of Nurses. It is unethical but it is happening,” he said.   Balita said even nurses who lack experience are also being recruited to work abroad. He added the recruiters even offer nursing students to continue their studies overseas.

He added there are lots of rooms and beds in local private hospitals that have been closed because of the shortage of nurses.

He warned that replacing the nurses with lower ranked personnel trained byTESDA with the hope of putting a stop-gap measure to the problem might create problems in the future as they don’t have the qualifications of a registered nurse to give the essential care.

“The public might feel they will be short-changed because they might think they’re getting a nurse who is well-trained,” Barcelo said.

Proper recognition

BARCELO and Balita pointed out that it is not just about compensation but also about giving the nurses the proper recognition and appreciation for their valuable and immense contribution to the country’s health-care system. Aside from the compensation factor, Barcelo said giving them positive recognition will help improve morale and the nurses’ desire to continue working in the country.

Balita said the main problem right now is not the shortage of nurses “but because as a country we don’t give enough care and support

our nurses to stay.”

“The government is the biggest contractualization agency for nurses. How many of our nurses are still on a job order status up to now? If you’re on job order, you have no benefits, security of tenure and it is a huge possibility that these nurses will accept job offers overseas even if the pay is small,” Balita emphasized.

Balita said the country is being exploited as a very compassionate nation producing caring nurses. Moreover, he said recruiters are exploiting the situation by offering not only employment but migration as well.

Retention, not supply “THE problem is not supply but retention,” Barcelo said. “We are pushing the panic button because nurses see this situation happening not only in the Philippines as worsening as the months come. We are still in the middle of the pandemic.  We don’t know what’s next.”

Balita said the solution the government is implementing is to allow two-year trained persons to take care of the bedside.

For example, if a patient is scheduled for operation, he has to wait for a schedule to be operated on.

It is not because there’s a lack of surgeons but the lack of Operating Room nurses who can attend and assist a good surgeon.

“If you put a less qualified person in the bedside, I am telling you, a patient will undergo anxiety. Right now, the government gives higher pay to the nurses and this in turn has led to a shortage of nurses in private hospitals. Nevertheless, nurses working in government hospitals are still sad because they are contractuals,” Balita said.

Health expert talks on how to detect, cure, prevent common cough, TB

By Roderick L. Abad Contributor

ADMIT it or not but a cough is most of the time not taken too seriously. Some might think that it’s just one of the most common ailments, which is considered the body’s defensive response when anything irritates the airways or the throat. Such is a fact.

But a chronic cough lasting for several weeks, or months should set the alarm that it needs to be investigated by a doctor. More so if accompanied by other symptoms like fever, difficulty of breathing, blood in the sputum or weight loss. What’s more confusing is the presentation of cough in other diseases or conditions which is the same with tuberculosis (TB).

“TB cough usually presents at least two weeks or more, and may even last for months, especially if untreated or if the patient has no appropriate treatment for TB,” said Dr. Alvin Francisco, a radiologist at the National Kidney and Transplant Institute (NKTI) in Quezon City. “TB cough may also be accompanied by

fever, weight loss, night sweats or blood in the sputum [or phlegm].”

Common cough vs TB

THE health-care practitioner from NKTI shared some indications to differentiate common cough from TB.

According to him, common cough and colds symptoms involve the throat and nasal passage. The former is distinguishable as dry or moist, with post-nasal drip (tickling in the back of the throat). The latter often starts with a sore throat and runny nose, followed by coughing and sneezing with or without fever.

Both could be described with a shorter duration and self-limiting condition. They heal in five to seven days. Such diseases can be diagnosed based only on a physical exam and history, without the need for any further testing or screening.

In the case of TB, especially for adults, Dr. Francisco advised to look for these major signs and symptoms that lasts for a couple of weeks or more: cough, unexplained fever and weight loss, and night sweats.

He noted that a chest X-ray is used

to initially screen TB, and reveals radiographic signs typical of TB, such as upper lobe infiltrates or cavities. A sputum test is further done to confirm if a person has it. All those with at least one of the cardinal signs and symptoms of TB OR with CXR finding suggestive of TB should undergo sputum testing (rapid molecular test).

Precautionary measures

AS an old adage says, “prevention is better than cure.” For those who are found to have TB or taking medications, they can stop transmission in various ways.

When coughing or sneezing, don’t forget to cover the mouth and nose with a tissue, towel, collar, or sleeves. Constant use of a face mask is very helpful, especially if with respiratory symptoms. Also, avoid spitting in private or public places.

Better isolate if the proper TB treatment has not started or is still within the first two weeks of cure. Good ventilation is very important, so open the windows of the house or use a fan to facilitate air movement.

Make sure that all the medical

appointments are kept. A doctor’s examination will ensure that the TB medication is effective. A treatment may take longer or get worse if medications are not taken regularly. Above all, it’s best to practice healthy habits, such as eating healthy, exercising, avoid smoking and drinking alcohol.

“TB is curable—as long as you take your medications every day and you religiously follow your doctor’s orders,” said Dr. Francisco. “For those who are still in denial and refuse to get tested or treated, ask and acknowledge why they don’t want to get the treatment.

Then from there, educate and plan action on how to advise them.”

For check-ups, he reminded a patient to always go to the nearest health centers or barangay clinics. Visit  https://tbfree.ph/  to get more pertinent TB information. This weblink forms part of the Department of Health’s local communication campaign, “Para Healthy Lungs, KonsulTayo,” which is supported by the United States Agency for International Development’s TB Innovations and Health Systems Project.

DOH, Pasig City officials launch new Radiation and Oncology Center at Rizal Medical Center

To provide cancer patients with the best possible health outcomes Department of Health (D o H ) officer-in-charge Maria Rosario Singh-Vergeire, together with Rizal Medical Center (RMC) Chief Dr. Maria Rica Lumague and other officials, on Tuesday led the launching ceremony of the new Radiation and o n cology Center located at Rizal Medical Center, Pasig City.

“Moving forward, it is our mission to build on these gains and ensure

that as we tread the path towards Universal Health Care, more of our public hospitals will be able to acquire radiation therapy equipment, and ultimately have the capability to provide cancer patients with the best possible health outcomes—at par with private institutions,” Vergeire said.

The event highlighted the launching of the Linear Accelerator and High-Dose brachytherapy treatment to support radiotherapy services, which will significantly contribute to the public

health sector.

Expands treatment options

SPECIFICALLY, establishing the availability and in turn increasing access to linear accelerators which offer external beam radiation treatments which expands current treatment options for patients with cancer through targeted therapy while sparing surrounding normal cells.

S imilarly, with the addition of brachytherapy, cancer patients such as those with prostate cancer are afforded

By Rory Visco Contributor

VIRUSES are meant to mutate and thus, the general population and more importantly the health workers, need to be constantly protected from outbreaks through vaccination.

Aside from the basic wearing of face masks in enclosed areas, vaccination remains the primary protection from the spread of Covid-19, especially now that face-to-face classes have resumed, office workers have returned working at physical offices, and many people are now going back to pre-pandemic activities and behavior. These developments may still put people at risk and thus would need further protection from Covid-19’s deadly consequences.

To continually protect its citizens, the US Food and Drug Administration (FDA) authorized in October of last year the use in the US of two bivalent vaccines made by Moderna and Pfizer-BioNTech to provide that layer of protection.

What are bivalent Covid-19 vaccines?

BIVALENT Covid-19 vaccines, per definition, contain a component of the original virus strain and a component of the Omicron variant. It targets both the virus’s initial strain and the original Omicron variant. Some refer to bivalent Covid-19 vaccines as an updated version of the Covid-19 vaccine booster dose.

Dr. Razel Nikka Hao, MBA, MSC, the Director for Standards and Sectoral Strategy for the Disease Prevention and Control Bureau of the Department of Health (DOH) said during the Stop C.O.V.I.D Deaths webinar organized by the University of the Philippines, UP Manila NIH National Telehealth Center together with the UP-PGH, that through the years, there were less cases already, less critical admissions and hospitalization, which the country maintained even if it is slowly opening up the economy. “Many of these gains were possibly due to the protection provided by the country’s Covid-19 vaccination program where everyone was really involved, even in the promotion of things related to vaccination.”

She reported that today, the country has already administered over 166 million doses where the majority have already received their first two doses and more than a fourth of the population already received their booster dose.

With the full reopening of schools and of the economy, there should be additional layers of protection, and vaccines provide that additional protection to maintain a strong wall of immunity. The national government targets to achieve 90 percent coverage for the A1 or health-care workers and A2 or senior citizens for the primary series and 50 percent coverage for the first booster dose for the general population.

“We all know that vaccine efficacy wanes over time. It’s very clear that the primary series of the two doses is not enough. At least three is necessary that’s why globally and of course the DOH continues to promote and strongly push for this message.”

a wider range of targeted treatment approaches.

Further, it is the D o H ’s objective to ensure that these specialized services are not only confined to specific regions, but can easily be reached by any Filipino, anywhere in the country.

“Rest assured that the D o H w ill never tire in its commitment to expand our work on cancer elimination— through system strengthening, health promotion, and service delivery,” said Vergeire. Claudeth Mocon-Ciriaco

munity has been moving towards bivalent vaccination especially when the US Centers for Disease Control and Prevention (CDC) and their Advisory Group changed their recommendation from the old vaccine to the bivalent vaccine which has the newer strain, and also when the European Medicines Agency (EMA) started authorizing the use of the bivalent vaccine.

However, she highlighted the strong position of the World Health Organization and also the DOH’s current assessment that original vaccines maintain a relatively high vaccine effectiveness. She said that even though these newly authorized vaccines can broaden and enhance the immune system, there is not much evidence at this point to support any preferential recommendation for the use of bivalent vaccines over the prior vaccines. “The message is very clear that everyone needs to be boosted and that any of the vaccines, whether the old monovalent ones or the new bivalent vaccines, will be able to provide protection against severe disease and death.”

Dr. Hao also assured that the DOH is always on the lookout for new developments, and is in fact tracking global developments. She said a lot of the old monovalent vaccines are already under standard authorization or regulatory approvals among FDAs of other countries, and even the Philippines’s own FDA is actively transitioning some of the old vaccines from an emergency authorization status to regular product authorization. “This means it can also now be available in private markets or retail establishments. That is already upcoming especially with a very clear directive from the Office of the President that we are now shifting towards the new normal or going back to the standard protocols of how things are being done.

Similarly, Dr. Hao noted that in a few countries like in the European Union, bivalent vaccines are now being granted full authorization but pointed out that what usually happens is if one country already allows it, some may already follow and suppliers now broaden the reach to the different regulatory agencies in other countries and in a matter of like a year or so it will also be available in other settings.

Will the country follow suit?

SHE revealed that in the coming weeks or months, the DOH will also start an initial rollout of bivalent vaccines coming from donations f rom the Covax Facility, which is a global risk-sharing mechanism for pooled procurement and equitable distribution of Covid-19 vaccines. The country is set to receive a few initial doses of bivalent vaccines and will again be distributed in a phased implementation where health-care workers and senior citizens will be prioritized before it is rolled out to other populations.

Will

people take bivalent vaccines or not?

DR. Hao said that in a recent study they made, people will be interested to receive their booster if they get an additional vaccine such as the bivalent ones although a certain number still have doubts up to this time of the vaccination program. It was also shown that people think that there is an additional protection to be brought about by the bivalent vaccines as opposed to the other vaccines available now.

She noted that the global com -

Dr. Hao also appealed to fellow health-care workers, particularly in the implementation of systems and structure-related changes to “maintain what have been protecting us, infection prevention and control measures, ventilation, sanitation.” There should be long-term plans to make sure that all of these are part of the development and investment planning. However, she emphasized the value of vaccination should be top-of-mind for everyone.

She also encouraged everyone to remain up-to-date with vaccination and sought support in the vaccine rollouts. “Both original and bivalent vaccines work especially against severe disease and death. We will be needing your support in all of these rollouts and if you want more information, the DOH is always willing to help out and explain.”

Leading

nurse advocates have urged the government to enlist the non-passers of the nursing licensure examinations to address the shortage of nurses that is currently hounding the country.

All vaccines work, whether bivalent or not, in preventing Covid-19 severe disease, death

Why having the sex talk early and often with your kids is good for them

By Veronica I. Johnson University of Montana

Broaching the topic of sex can be awkward. Parents may not know how to approach the topic in an age-appropriate way, they may be uncomfortable with their own sexuality, or they may fear "planting information" in childrens' minds.

Parental influence is essential to sexual understanding, yet parents' approaches, attitudes and beliefs in teaching their children are still tentative. The way a parent touches a child, the language a parent uses to talk about sexuality, the way parents express their own sexuality and the way parents handle children's questions all influence a child's sexual development. We are researchers of intimate relationship education. We recently learned through surveying college students that very few learned about sex from their parents, but those who did reported a more positive learning experience than from any other source, such as peers, the media and religious education.

The facts of modern life

Children are exposed to advertising when they're as young as six months old—even babies recognize business logos. researcher and media activist Jean Kilbourne, internationally recognized for her work on the image of women in advertising, has said that "nowhere is sex more trivialized than in pornography, media and advertising." distorted images leave youth with unrealistic expectations about normal relationships.

l o ng before the social media age, a 2000 study found that teenagers

see 143 incidents of sexual behavior on network television at prime time each week; few represented safe and healthy sexual relationships. The media tend to glamorize, degrade and exploit sexuality and intimate relationships. Media also model promiscuity and objectification of women and characterize aggressive behaviors as normal in intimate relationships. Violence and abuse are the chilling but logical result of female objectification.

While there is no consensus as to a critical level of communication, we do know that some accurate, reliable information about sex reduces risky behaviors. if parents are uncomfortable dealing with sexual issues, those messages are passed to their children. Parents who can talk with their children about sex can positively influence their children's sexual behaviors.

Can't someone else do this for me?

Sex education in schools may provide children with information about sex, but parents' opinions are sometimes at odds with what teachers present; some advocate for abstinence-only education, while others might prefer comprehensive sex education. The national e ducation Association developed the national Sexual he alth Standards for sex education in schools, including age-appropriate suggestions for curricula.

Children often receive contradictory information between their secular and religious educations, leaving them to

Leading carrier announces ‘Super Seat’ offers

The Philippines’ leading carrier, Cebu Pacific (C e B) teases wanderlust among families even more as it launches its f e bruary Super Seat f e st, giving every consumer the perfect opportunity to plan their dream domestic and international vacations throughout the summer and spring seasons.

Ongoing until f e bruary 16, 2023, travelers can book their trips to all of C e B ’s domestic and international destinations for as low as P143 one-way base fare, exclusive of fees and surcharges. Travel period is from April 1 to July 31, 2023. More information is available at bit.ly/CEBSSFFeb2023cc.

Whether you’re traveling with your special someone, friends, or family, bask in the warm summer sun as you visit popular and picturesque destinations in Cebu, i l oilo, Bacolod, Tacloban, Siargao, d a vao and Zamboanga. e n joy mall-hopping and food-tripping as you explore the most popular tourist hubs in h o ng Kong, Singapore, Vietnam, i n donesia, Japan, Australia and d u bai. Passengers with existing Travel f u nds may use these to pay for flights and other add-ons. Apart from the Travel f u nd, other payment options such as payment centers, credit or debit cards, and e-wallets may also be used.

The carrier is set to restore 100 percent of its preCovid network and capacity in March 2023. i t now flies to 34 domestic destinations and is set to re-instate all its 25 international destinations in the first quarter.

question what to believe about sex and sometimes confusing them more. Open and honest communication about sex in families can help kids make sense of the mixed messages.

Parents remain the primary influences on sexual development in childhood, with siblings and sex education as close followers. during late childhood, a more powerful force – peer relationships – takes over parental influences that are vague or too late in delivery.

e v en if parents don't feel competent in their delivery of sexual information, children receive and incorporate parental guidance with greater confidence than that from any other source. engaging in difficult conversations establishes trust and primes children to approach parents with future life challenges. i n formation about sex is best received from parents regardless of the

possibly inadequate delivery. Parents are strong rivals of other information sources. Teaching about sex early and often contributes to a healthy sexual self-esteem. Parents may instill a realistic understanding of healthy intimate relationships. Getting started SO how do you do it? There is no perfect way to start the conversation, but we suggest a few ways here that may inspire parents to initiate conversations about sex, and through trial and error, develop creative ways of continuing the conversations, early and often.

n Several age-appropriate books are available that teach about reproduction in all life forms—it's not the Stork, how to Talk to Your Kids About Sex and Amazing You!: Getting Smart About Your Body Parts.

n Watch TV with children. Movies

can provide opportunities to ask questions and spark conversation with kids about healthy relationships and sexuality in the context of relatable characters.

n demonstrate openness and honesty about values and encourage curiosity.

n Allow conversation to emerge around sexuality at home—other people having children, animals reproducing or anatomically correct names for body parts.

n Access sex education materials such as the national Sexual health Standards.

The goal is to support children in developing healthy intimate relationships. Seek support in dealing with concerns about sex and sexuality. Break the cycle of silence that is commonplace in many homes around sex and sexuality. Parents are in a position to advocate for sexual health by communicating about sex with their children, early and often. The Conversation

How to have a healthy heart? Start in childhood

If kids don’t usually come up during discussions on cardiovascular disease, that’s because hypertension, stroke, high cholesterol, and heart attack due to the buildup of plaque in the arteries are thought to be old people’s illnesses, ailments that shouldn’t concern the young until they become adults themselves.

But in a country where cardiovascular diseases account for a third of the deaths of its population (or 72percent of the deaths in the country in 2021, according to the Philippine Statistics Office), efforts to keep our heart healthy should start years before we become adults—they should begin as early as childhood.

Though heart disease is hereditary (meaning you are more likely to have it if your close blood relatives do), it can also develop as a consequence of one’s environment,” says Ceres Paulino Canto, Md from the Cardiology department of leading Philippine hospital Makati Medical Center (MakatiMed, www.makatimed.net.ph). “Kids who are exposed to family members who smoke and drink, eat mostly processed food, and have sedentary lifestyles are likely to follow in their footsteps. So, while cardiovascular diseases like heart attack and stroke are associated with the older generation, their causes can be traced to childhood.”

Some causes of cardiovascular diseases like obesity, blocked arteries, unhealthy cholesterol levels, high blood pressure, and diabetes can all begin in the early years, which means that they can also be prevented. Make this heart Month meaningful by adopting these three lifestyle habits to keep your little ones’ hearts healthy. easy to do, they ensure your kids remain strong well into middle age and beyond—with their children and their children’s children.

n EAT NUTRITIOUS FOOD. introduce quality nutrition the minute your kids are born. Start with breastmilk, which is rich in protein, fat, carbohydrates, vitamins, and minerals. When they’re ready for solids, make them get used to and appreciate fresh fruits, vegetables, whole grains, lean protein, and low-fat dairy products. “And because

you’re no spoilsport, treat them to fastfood fare and sugary drinks occasionally but do practice portion control. don’t offer too much that they overeat or waste food, or too little that they end up craving for more,” dr. Canto suggests.

n GET ACTIVE. in this age of the internet, kids typically spend their days seated and staring at a computer screen, tablet, or phone. “Physical activity doesn’t have to be expensive or complicated,” dr Canto points out. “l etting loose at the playground, dancing, or engaging in sports for 30 minutes to an hour a day deliver oxygen and nutrients that allow the cardiovascular system to work more efficiently. They also strengthen muscles and boost endurance. More importantly, they prevent your kids from becoming overweight or obese, a risk factor for cardiovascular disease. Make them develop a lifelong love of physical fitness and activity today.”

n KICK BAD HABITS. do you smoke or drink?

Stay up late? Consider junk food a food group?

There’s a strong possibility your kids will too. Kids love mirroring what their parents do, so it’s

best to lead a healthy lifestyle yourself. “ i f you’re going to be a role model for your children, inspire them by espousing healthy habits like quitting smoking and minding your sleep hygiene,” d r Canto reminds.

Secondhand cigarette smoke and excessive alcohol consumption are linked not only to cardiovascular diseases, but also to certain cancers and a weak immune system, d r. Canto adds. hyp ertension, obesity, heart attack, and stroke are possible effects of not getting the recommended 7-8 hours of sleep as well as sticking to an unhealthy diet.

While all these recommendations apply to any age, your children will certainly reap their full benefits the longest, provided you start early. “Kids are more likely to stick to a heart-healthy lifestyle if they grow up exposed to it, especially during their most formative years. Once these good-for-theheart habits are instilled in them, they would be harder to break, even when they reach adulthood,” dr. Canto underlines.

Parents may be uncomfortable initiating "the sex talk," but whether they want to or not, parents teach their kids about sex and sexuality. Kids learn early what a sexual relationship looks like.

Phil-Best Welder and Heater, Inc., to participate in I-MTAP 2023 at World Trade Center Metro Manila

ATI supports tourism reboot as luxury cruise vessels return to South Harbor

LISTED trade enabler Asian

Terminals Inc. is helping reignite the country’s tourism industry as it welcomes back international cruise vessels to Manila’s historic and iconic shores after a three-year hiatus brought about by the Covid-19 pandemic.

Recently, ATI’s Manila South Harbor welcomed MV Seabourn Encore, operated by Soriamont Steamship Agencies, along with its over 500 foreign passenger guests and 400 crew who were treated to a festive Filipino reception by artists and musicians organized by local tourism groups.

This officially marks the resumption of commercial cruise operations in Manila since the pandemic with around 60 more cruise vessels initially scheduled for a visit in the coming weeks.

“As a trade enabler and logistics player, ATI is very pleased to provide cruise liners with an integrated port facility that suits their needs. We are glad to contribute to the resurgence of the tourism industry which government considers as among the major linchpins towards economic recovery,” ATI director and DP World Philippines president and CEO William Khoury said.

Apart from its historic and economic significance, Manila South Harbor

serves as an important conduit for cultural promotion as gateway into the country’s capital. The port is highly accessible to historical landmarks like the Walled City of Intramuros, the world’s oldest Chinatown in Binondo, National Museum, Rizal Park, and other entertainment and world-class heritage sites.

Prior to the pandemic, Manila South Harbor’s Eva Macapagal Cruise Terminal (EMCT) in Pier 15 served as the country’s dedicated homeport for international cruise vessels which handled nearly 200,000 outbound passengers at its peak.

The home-porting service by international

cruise liners, through ATI’s facilities, opened opportunities for Filipinos to avail of exciting and affordable cruise packages from Manila to major Asian destinations.

As cruise operations temporarily ceased during the pandemic, ATI’s EMCT was leveraged as an added community isolation facility and crew-change hub to augment government’s health and maritime transport infrastructure.

By March, a revitalized EMCT will reopen its doors to accept more foreign visitors and potentially host homeporting services, paving the way for more international cruise options via Manila.

Double Dragon/Hotel101 Group signs agreement with Iwata Chizaki for Hotel101-Niseko, Hokkaido Japan Project

agreement were DoubleDragon/ Hotel101 Group Chairman Edgar Injap Sia II with Tony Tan Caktiong and 岩田圭剛 IWATA Keigo 岩田地

IWATA CHIZAKI INC., President&CEO Iwata Chizaki Inc is one of the major contractors in Japan and the same contractor who built the Chitose International Airport in Saporro Hokkaido Japan

The signing between DoubleDragon /Hotel101 Global Pte Ltd and Iwata Chizaki Inc was witnessed by President Ferdinand R. Marcos during his state visit to Japan.

Pioneer in Fine Arts NFTs Artifact.io allows you to own a piece of music and artistry of Eraserhead‘s Music Icon Ely Buendia

ARTIFRACT.IO, a pioneer in Fine Arts NFTs in Asia, signs a partnership agreement with Ely Buendia, W E U Event Management Services, and Dvent Productions to bring the Pinoy Rock Icon’s music to the Metaverse. This collaboration allows fans and music lovers to immerse in Ely Buendia’s musical art and unprecedented access to exclusive multimedia contents from the one and only Maestro of Pinoy Rock Music.

The project makes the musical experience immersive and enjoyable, at the same time allowing fractional ownership of Ely’s exclusive musical NFT’s. Artifract aims to preserve timeless musical collections by placing them in a metaverse where users, as their avatar personas, can immerse themselves and appreciate works from Ely.

“We cannot wait to bring Ely Buendia NFTs into Artifract's platform. Our users will be able to appreciate and have access to exclusive fractionalized musical arts. Most importantly, they will own a piece of Ely's musical art on the blockchain,” said Marvin Agustin, co-founder of Artifract.io.

“We’re excited to be working with Artifract. This new partnership allows us the opportunity to explore other ways of sharing our music in the metaverse. We look forward to curating an exclusive set of musical pieces for our upcoming Web3 project!” Ely Buendia said.

The conceptualizing and execution

planning started with Ely’s longtime colleagues at DVent Productions and WEU Event Management Services. According to W E U President Francis D. Lumen Jr., “W E U is excited to collaborate with icons and innovators like Ely Buendia and Artifract, to create the next wave of art content for fans to enjoy and share through blockchain technology.”

“We’re neophytes in this enterprise and relatively new to the digital community, aware of the misgivings of traditional art aficionados and collectors which inspired us to thoughtfully create art featuring both digital and tangible collectible assets that have inherent value in the real world and NFT metaverse,” says Maria Diane Ventura of Dvent Productions.

“Artifract created a platform for creators to digitize their works and to democratize access to it. We’re thrilled to enable Ely

Buendia and many more artists, brands, and creators to build stronger relationships and connections with their audiences using the technology we developed at Artifract and UBX,” according to Rico Dela Cruz of UBX. Under this collaboration, Ely will be releasing his exclusive musical NFT titled “Flamed Lullaby,” with an Ely-composed original tracking/song title called “Hele.” The artwork is inspired by the Eraserhead's last 2008 Reunion Concert, where the Sticker Happy Piano was burned and smashed during their final performance of “Huling El Bimbo.” This never-before-released musical art piece will be heard and appreciated by not more than 2,000 owners of the NFT, that will start at Php 15,000 per fractional NFT, with exclusive royalty rights and printed version of the Artwork plus Certificate of Authenticity.

PHIL-BEST Welder and Heater, Inc., joins with a bigger booth at I-MTAP 2023 back-to- back with PSMEX 2023.

I-MTAP 2023 is an International Machinery Tools & Accessories Philippines, a biennial exhibition that will be held from April 26 to 29, 2023, Hall B & C of World Trade Center Metro Manila. The event will be held back-to-back with Philippine Subcon and Manufacturers Exhibition 2023 (PSMex 2023) themed

"Make it in the Philippines,” an international biennial event caters to both local and international audience which covers whole business platform that will be beneficial to suppliers, distributors and end-users. It is an event that will showcase capability of the Philippine products and services to the world.

I-MTAP will incorporate following events, such as: International Industrial Automation and Robotics Philippines (I-AUTOROBOTS Philippines), International Sheet Metal Philippines (I-SM Philippines), International Machine Tools & Accessories Philippines (I-MT Philippines), International Instrumentations & Metrology Philippines (I-IMET Philippines), International Plastics Philippines (I-Plas Philippines), International Welding Philippines (I-Weld Philippines), International Hardware, Accessories, & Tools Philippines (I-HAT Philippines)

Among the big players in the Welding industry is Phil-Best Welder and Heater, Inc. established in February 2014. With the view

of entering the largely untapped Philippine market, Phil-Best Welder and Heater Inc. brought in the best products and machineries to establish as a reputable name in the domestic Philippine market. They are the sole distributor of such products, consisting reliable and reputable Japanese brands such as, Chuo Seisakusho, EK-Metal, Spotron, Koyo Giken, Yajima, MS Trading and Taiwan Brands which are considered among the best products in the market. They are known for its quality, reliability and precision, the inherent values that are stressed in the products. Innovative technology has never been static and the need to be kept abreast with its dynamism requires constant upgrading of research and development.

Phil-Best Welder and Heater, Inc. will continue to provide the best products and services to their existing and potential customers. They believe that the key to success is to ensure the continuity of provision of reliable and high quality products and services they offers. Their business scope covers assembly, delivery, installation, commissioning and training.

Phil-Best Welder and Heater, Inc. ensures its ability to provide a complete system to meet the quality demand and satisfaction of our clients. See them at i-MTAP 2023! For more information, please contact MAI Events Management Philippines at 8985-3375 or email them at mai_mgt@compass.com.ph .

Sitel Academy empowers, prepares tomorrow‘s BPO workforce with the necessary skills training

WHILE there is no shortage of job vacancies in the business process outsourcing (BPO) sector, filling them up remains a challenge as many graduates and workers lack the necessary skills BPO firms are looking for.

Sitel® Philippines has long been responding to this challenge with its Sitel® Academy, a pioneering free BPO upskilling program for students, near-hires, and individuals who are usually deprived of good career opportunities. Launched in 2007, Sitel Academy has a curriculum that focuses on developing well-rounded skills, touching on both technical and non-technical core skills like BPO fundamentals, communications, empathic listening, and logical thinking.

“Sitel Academy helps bridge the job skills gap or the skills that employers are looking for and the training and experience that candidates possess. We provide free intensive technical and skills training for the disadvantaged and marginalized sector of the workforce,” Director of Sitel Academy and Sitel Philippines’ talent acquisition Rowel Villalobos says.

“It seeks to strengthen inclusivity and diversity in the BPO workplace by providing gainful employment for these special jobseekers.”

Villalobos adds that Sitel Academy is

a strategic capacity-building program that aims to help the information technology and business process management (IT-BPM) sector retain its longstanding record as a top employment generator and key economic contributor in the Philippines.

To expand its reach, Sitel Academy has formed partnerships with local government units, foundations, training centers, sororities, and educational institutions that include TESDA, Far Eastern University, Rizal Technological University, Tarlac State University, University of Baguio, among others. It is also working with government organizations like DOLE and PESO. Sitel Academy has over 70 active partners in the local government sector and academe.

Since its launching, Sitel Academy has trained over 45,000 jobseekers. In 2022, out of the 16,700 people it trained, 6,045 were hired. For this year, Sitel Academy targets to train 15,000 jobseekers, with 20% or 8,000 of them ending up being hired.

According to Villalobos, Sitel Academy is open to any potential BPO workforce talent, regardless of whether or not they'll pursue a career in Sitel Group®.

“Graduates of the program are free to explore employment in other BPO companies. Sitel Academy contributes to the industry by enhancing professionalism, institutionalizing best practices and maintaining a high standard of knowledge and skills among IT-BPM workers,” he says.

“Our genuine people program not only serves our business goals and objectives, but also the interests and welfare of the communities where Sitel Philippines operates.”

In the near future, Sitel Academy is looking at implementing new courses that will help improve talent acquisition, focusing on best in class applicant experience, speeding up the hiring process, and applicant retention.

MARIA Diane Ventura of Dvent Productions, Francisco Lumen of W E U Event Management Services, Ely Buendia of Eraserheads, Marvin Agustin of Artifract.io, Rico Dela Cruz of UBX, and Edison Tsai of Artifract.io

Inc. for the construction of its upcoming Hotel101-Niseko, Hokkaido Japan Project with about 518 rooms. Present during the signing of the

代表取締役社長

ATI’s Manila South Harbor hosts MV Seabourn Encore signaling the reboot of Philippine cruise tourism.

Türkiye thanks PHL over aid pledge, search & rescue team

In expressing its gratitude to Manila, Ambassador Niyazi Evren Akyol said the “act of solidarity will surely strengthen the already solid bonds of friendship and cooperation between our countries.”

The envoy likewise conveyed his country’s appreciation to the Filipino people after Speaker Ferdinand Martin G. Romualdez turned over $100,000 in financial assistance for Türkiye earthquake victims in simple rites held inside the Speaker’s Office at the Batasang Pambansa Complex in Quezon City.

“…In an event like this, it’s very good to know you have your friends on your side,” expressed Akyol.

Amid the disaster, the ambassador said the people of Türkiye is consoled by the fact that the international community has come out “really strong” to help them, with 99 countries offering assistance to date.

“[We] have on the ground almost 10,400 rescue workers; and of course, the Philippines is one of the major contributors. On that note I would like to express my government’s and my personal heartfelt gratitude to President Ferdinand R. Marcos Jr. for his

THREE QUESTIONS

leadership, [as well as] for his swift instruction for Philippine authorities to get into action,” the diplomat stated.

He noted that within 48 hours of the disaster, there was a Philippine search-and-rescue and medical team of 82 young Filipino “heroes” in Türkiye braving extreme cold to provide assistance.

In addition, he said the Philippine Red Cross has also provided assistance to the quake survivors.

The envoy also said he was extremely grateful for the gesture of the House of Representatives, led by Romualdez.

“The very fact that you thought about this is enough for us. And your generosity is most heart-warming and touching in this hour of need,” Akyol relayed. “The fact that you thought about this, that you made an organization to make this happen is much, much appreciated, Speaker. Thank you!”

In response, Romualdez said the people of the Philippines will continue to support the emergency and relief operations in Türkiye.

“The Filipino people…benefitted so much from the compassion of Turkish volunteers,” said the Speaker, as he recalled the assistance

sent by Türkiye after Supertyphoon “Yolanda” (international name Haiyan) struck Leyte and many parts of Eastern Samar in November 2013.

“We will be here with you, as Türkiye was always with us in Haiyan/ Yolanda, and all the other disasters,” Romualdez said.

DFA, embassies engaged

IN Ankara, the Philippine Embassy lowered the tricolor at half-mast, as it joined the global community in mourning the deaths following the catastrophic temblor.

“Our deepest condolences go out to the families and loved ones of all those affected in Kahramanmaraş, Gaziantep, Hatay, Osmaniye, Adiyaman, Malatya, Sanliurfa, Adana, Diyarbakir, and Kilis,” it said.

Last week the Department of Foreign Affairs (DFA) confirmed that aside from Türkiye, assistance will be provided to earthquake-affected Filipinos in Syria.

DFA spokesperson Ma. Teresita Daza said both the Philippine deputa-

PHL, UK target closer maritime collaboration

tions in Ankara and Damascus have activated their crisis control management when the 7.8-magnitude rocker rattled southern Türkiye.

“They will do what needs to be done, and bring what needs to be brought to actually be able to address the needs…raised by different [Filipino communities],” Daza told reporters in a briefing. She said the two embassies have a contingency plan to secure necessary assistance for distressed Filipinos, and ensure there is representation with the host government if repatriation is needed.

Both, Daza added, are in touch with the Filipino groups in their jurisdiction.

“They will contact all the leaders to check on the conditions of the Filipinos and the members of that particular group,” she confirmed. “This is something that has actually happened and is continuing, because it’s not an easy task—especially if there’s a national disaster.” Joyce Ann

L. Rocamora and Jose Cielito Reganit/PNA

British envoy expounds on economic linkages, expanding cooperation toward 77th year of ties

Exclusive to Envoys&Expats

LAST month the Philippine Economic Briefing took place in London, where Filipino economic and finance leaders fanned the interest of the private sector of the United Kingdom (UK), while they further strengthened its diplomatic ties with the Philippines. (Read in the BusinessMirror: PHL-UK trade ties tightened through economic briefing, February 2, 2023.) Looking forward, Ambassador Laure Beaufils provides a perspective from the British Embassy-Manila on ways the briefing will further enhance the already robust ties that connect the two countries through this exclusive:

Envoys&Expats: What was the importance of the Philippine Economic Briefing, and how will it impact business dealings between our governments?

BEAUFILS: The Philippine Economic Briefing was an important opportunity to reintroduce the Philippines, its economic growth pattern, the administration’s legislative and regulatory priorities, and investment opportunities to a large group of investors and privatesector representatives in the City of London. This was the first such briefing since 2018, so a particularly important opportunity for investors to hear first-hand from the new administration.

The delegation, headed by Secretary [Benjamin] Diokno, Secretary [Amenah] Pangandaman and Bangko Sentral Governor [Felipe] Medalla was also able to set out the significant reforms made to liberalize the economy over the last two years, such as the Retail Trade Liberalization Act, Foreign Investment

Act, as well as the Public Service Act and most recently the lifting of restrictions on foreign ownership for renewable-energy projects. All of these are beginning to bear fruits, and are of great interest to British investors.

The very fact that this very senior delegation came to London speaks volumes about the administration’s vow to drive foreign direct investments into the Philippines. We’ve already had two great stories of British funding into the country this year: Diageo’s purchase of Don Papa Rum for €225 million, and Inchcape’s joint venture with CATS Motors. We are ambitious, and we want to see more of these.

In broad strokes, how would you describe the economic linkages of the Philippines and the UK?

We have a strong and growing economic relationship. Our trade is growing anew to prepandemic levels at £2.1 billion annually. We are optimistic that we can grow further this year with a lot of interest in key sectors such as renewable energy and sustainable infrastructure, but across many other sectors such as technology, and defense too.

We’ve got great tools to support this, including our export agency: UK Export Finance that has £4 billion available for the Philippines. UKEF offers a suite of flexible financing options, and guarantees available in both foreign currency and Filipino pesos.

And this year we are launching our new trading program: the Developing Countries Trading Scheme, which will replace the European Union’s Generalized Scheme of Preferences-

Plus. The UK’s DCTS is similar to the GSP+, but it has added 150 new product lines and simplified rules of origin to make it even easier, and even cheaper, to import and export.

My team at the British Embassy will work closely with those in the Department of Trade and Industry and the British Chamber to ensure that businesses in the Philippines are able to make the most of the opportunities that the scheme presents.

We’ve got other tools too: The UK government invests in Filipino companies through our development finance institutions. The UK-funded Private Infrastructure Development Group and its subsidiary company InfraCo Asia invested in a number of projects in the Philippines—including $5.7 million to off-grid smart solar for island-communities in Palawan, and $2 million in seed capital to four mini-hydro-schemes in North Luzon, adding a capacity of approximately 35 megawatts to the regional grid.

And we have a set of programs that support economic development. We have worked closely with the Philippine government on institutionalizing economic reforms; in particular, on the ease of doing business, competition policy, anticorruption and transparency, financial services, and intellectual

property rights. We have worked with the Bases Conversion and Development Authority on the design of aspects of New Clark City and just before Christmas, saw the successful launch of BSP’s UK-supported Sustainable Central Banking Strategy.

What can we look forward to in 2023 in the 77th year of diplomatic relations between the UK and the Philippines?

We have a lot in store this year. For the first time since 2018 we are bringing back the “Great British Festival.” It will be a platform to celebrate all things British: art, culture, music, fashion, sport, food, education and more.

It will be an opportunity to work with British brands to further showcase the value and opportunity to enter or invest in the Philippine market. We will be having a full programme that will include film, music and theater to make sure that there will be activities for one and all.

The festival will be in Bonifacio Global City on March 25 and 26. It will be an exciting collaboration between the British Embassy, British Council and British Chamber of Commerce. We hope to see many of your readers there!

But there are many other things to look forward to. We hope to launch our “British Investment Partnership” initiative within the next few months.

And of course, the coronation of His Majesty, the King on May 6 will be an important milestone for us, and we look forward to celebrating that with our Filipino friends and colleagues.

We have quite a few other things in store…watch this space!

THE Philippines and the United Kingdom (UK) agreed to map out avenues for the expansion of their bilateral relations by deepening cooperation on maritime interests and reflecting the wealth of common interests at the inaugural Maritime Dialogue in Manila on February 7.

The two countries exchanged views on important global and regional developments, then shared insights on the strategic and practical impacts of emerging maritime-related technology and legal concepts.

Maritime-law enforcement, marine-environment protection, climate-change adaptation, fisheriesmanagement efforts, and professional seafaring also comprised the dialogue’s agenda.

Department of Foreign Affairs (DFA) Maritime and Ocean Affairs Office (MOAO) Assistant Secretary Maria Angela A. Ponce and UK’s Foreign, Commonwealth and Development Office (FCDO) Legal Director Andrew Murdoch led their countries’ respective delegations to the exchange. Murdoch was joined by Ambassador Laure Beaufils and officials from the FCDO, British Embassy in Manila, and British High Commission in Singapore.

Reflecting the country’s comprehensive approach to maritime issues,

the Philippine delegation consisted of various policy-making, regulatory, law-enforcement, and coordinating agencies.

The DFA was joined by the Department of National Defense, including the Philippine Navy; the Department of Agriculture, including the Bureau of Fisheries and Aquatic Resources; the National Security Council; the Department of Transportation, including the Philippine Coast Guard and the Maritime Industry Authority; the Department of Environment and Natural Resources, including the National Mapping and Resource Information Authority; the National Coast Watch Center; and the Philippine National Police’s Maritime Group.

The Philippines sees the Maritime Dialogues as opportunity “to advance shared strategic interests with our close and like-minded partners,” Ponce said.

The UK, for its part, identified maritime cooperation as an area that it wishes to “turbocharge” as part of the Philippines-UK Enhanced Partnership.

The Maritime Dialogue was an outcome of the Philippines-UK High Level Political Talks held on November 22, 2022, and an expansion of the 2020 Maritime Law Dialogue between the two countries.

France bolsters public-health program with DOH, discusses UHC undertaking

Boc-

Michele

AMBASSADOR

coz and Department of Health (DOH) Officer In

Charge Dr. Maria Rosario SinghVergeire discussed last week matters of renewed health cooperation and partnership between the Philippines and France through the strengthening of the multisectoral “One Health Approach.”

Exchanges between the two leaders included strengthening Covid-19 response through vaccination, realizing Universal Health Care, or UHC, through improved access and strengthened delivery of primarycare services, as well as addressing diseases like the human immunodeficiency virus infections, tuberculosis, dengue and malaria.

“The DOH has long cherished

its strong relationship with its international partners and stakeholders,” said Vergeire. “Through our continuous investment and collaborations, and through the One Health Approach and improved [linkages] with key partners such as the government of France, we are optimistic that we will uphold our commitments to our targets and aspirations for Philippine health.”

The Health OIC shared that the discussion with the Embassy of France contributed to the DOH’s strategic steps in forming key initiatives and actions that help solve health problems, “and by addressing these, we create improved health outcomes and healthy settings for every ‘Juan’ and ‘Juana.’”

THE Embassy of Türkiye thanked the Philippines for sending search-and-rescue efforts currently providing humanitarian aid to the quake-hit country.

AMBASSADOR Laure Beaufils

AMBASSADOR Niyazi Evren Akyol (fifth from left) receives from members of the House of Representatives led by Speaker Ferdinand Martin G. Romualdez (fourth from right) a symbolic cheque worth $100,000 for quake-relief efforts. HOUSE SPEAKER’S OFFICE/PNA

ASSISTANT Secretary Maria Angela A. Ponce and Legal Director Andrew Murdoch DFA-OPCD/MARIA VANESSA UBAC

AMBASSADOR Michele Boccoz (right) and Health Department Officer-in-Charge Dr. Maria Rosario Singh-Vergeire

TIGER WOODS: I would not have put myself out here if I didn’t think I could beat these guys. AP

B8 Thursday, FeBruary 16, 2023

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

TIGER FEELS GOOD ENOUGH TO PLAY

LOS ANGELES—Tiger

Woods feels good enough to play at Riviera, his first tournament with a cut and without a cart since the British Open last July.

He already is looking ahead to the Masters. And yes, he thinks he can win.

I would not have put myself out here if I didn’t think I could beat these guys,” Woods said Tuesday ahead of the Genesis Invitational, which has attracted 19 of the top 20 players in the world. He also is well aware that he has not won since October 2019, and that at age 47 and with more surgeries than major titles (15), time is running out. He knows that. He’s just not quite ready to accept it.

H e marvels at how long Tom Bra d y lasted. He remembers when Joh n E lway retired from the Denver B roncos because his body could no l onger recover the way it once did. Golf is not a contact sport, but it has become a young man’s game. Only two of the top 10 players in golf are in their 30s. The oldest is Rory McIlroy at 33.

Aquatics trials for Cambodia Games attract inclusive field

ATOTAL of 188 swimmers from 102 clubs from as far north as the Ilocos provinces to down under as southern Mindanao are converging at the New Clark City starting on Thursday (February 16) for the Official National Swim Tryouts for the Cambodia 32nd Southeast Asian Games.

W ith the registry book bursting at the seams—135 male and 53 female—the tryouts go down as the biggest and most inclusive in Philippine aquatics history, according to the members of the Stabilization Committee tasked to oversee aquatics in the country.

“ We are inspired by the big turnout of aspirants for the national team to the Cambodia SEA Games with the numbers going beyond our expectations,” said Valeriano “Bones” Floro, a member of the Stabilization Committee along with Philippine Olympic Committee legal head Atty. Wharton Chan and Bases Conversion and Development Authority Senior Vice President for Corporate Services Group Arrey Perez.

The tryouts will be handled by experienced coaches and individuals who were part of the 2019 SEA Games, former and current World Aquatics licensed technical officials and members of previous qualifying events for national pool selection,” Floro added.

Back spasm

EJ E

RNEST JOHN “EJ” OBIENA is in France for the Hauts-deFrance Pas-de-Calais Lievin on Thursday but his bid to go 7-of-7 in his indoor campaign is hampered by back spasms.

“ I have to check my back later, if I do not feel well, I would rather not jump,” Obiena told BusinessMirror via internet call on Wednesday.

The tournament in Lievin would be Obiena’s last for the indoor season, which he has dominated by winning a medal in each of the six competitions he took part in.

Woods can play. The question is whether he can compete, whether he can win. He remains at 82 career Professional Golfers Association (PGA) Tour titles, a record he shares with Sam Snead, who was 67 when he made the cut at a PGA Championship.

P art of Woods was annoyed tha t h e was celebrated for making the cut in the Masters last year, his first competition since a February 2021 car crash outside Los Angeles shattered bones in his right leg and ankle.

I’m there to get a W, OK? So I don’t understand that making the cut is a great thing,” Woods said. “If I entered the event, it’s always to get a W. There will come a point in time when my body will not allow me to do that anymore, and it’s probably sooner rather than later. But wrapping my ahead around that transition and being the ambassador role and just trying to be out here with the guys, no, that’s not in my DNA.”

He played that ambassador role last year at the Genesis Invitational as the tournament host. He also is leading the private player meetings

geared toward building a new PGA Tour model of elite tournaments as a response to Saudi-funded LIV Golf.

H is announcement Friday that he was playing led to a scramble for media credentials. The back of the press room in the Riviera clubhouse was lined with some two dozen photographers waiting for him to show up for his news conference.

Justin Rose watched in December as Woods played with his son at the PNC Championship, riding in a cart. Woods has been saying he can hit all the shots, that it’s walking to them that makes it difficult.

“

In terms of the important part of can you hit a golf ball, can you get a ball in the hole, all of that seemed to be really in order,” Rose said. “But we know that’s definitely not the thing he struggles with, right? It’s obviously the physical side of putting together four rounds of golf. (It’s) a really good sign to see him in the field and feeling willing and able to get out here.”

Woods had planned to play in his Hero World Challenge in the

Bahamas the first week of December, but in accelerating his practice he developed plantar fasciitis that kept him from walking. He said he still copes with plantar fasciitis, only it has become manageable. The ankle is what gives him problems.

H e prepared for Riviera—and the Masters, and whatever else can follow—with a more graduated practice of hitting golf balls, walking the course until he became tired, and then walking a little more until he could get in 18 holes.

W hat to expect? Not even Woods knows. AP

WINNERS IN HANOI GET CITATIONS

THE gold medal winners in the 31st Southeast Asian Games in Vietnam lead a long list of personalities who will be honored with Citations in the San Miguel Corp.-Philippine Sportswriters Association (SMC-PSA) Annual Awards Night on March 6 at the Diamond Hotel grand ballroom.

Olympian boxers Eumir Felix Marcial and Rogen Ladon, together with triple gold winners Ana Nualla and Sean Aranar of dancesports and the Gilas Pilipinas women’s team are among those to be cited with special awards from the oldest media organization in the country.

The Philippines bagged 52 golds in Hanoi to finish a strong fourth during the biennial meet that was twice rescheduled because of the pandemic.

Olympians Hidilyn Diaz-Naranjo, EJ Obiena and Carlos Yulo, along with other SEA Games gold medal winners Rubilen Amit, Meggie Ochoa, Carlo Biado, Johan Chua and Vanessa Sarno, however, will no longer be given citations because they will be honored with higher awards during the gala night presented by the Philippine Sports Commission and Cignal TV and ably supported by the Philippine Olympic Committee, Tagaytay City Mayor Abraham “Bambol” Tolentino, Milo, Smart, MVP Sports Foundation, Rain or Shine, 1Pacman Rep. Mikee Romero, Philippine Basketball Association, OKBet and the International Container Terminal Services Inc. Yulo, Obiena, Amit, Biado, Chua, Ochoa and Sarno are part of a group

Men’s volleyball pool arrives in Taiwan

MEMBERS of the national pool pose for a team photo upon their arrival at the Taoyuan International Airport on Wednesday (February 15) morning.

THE national men’s team of the Philippine National Volleyball Federation (PNVF) arrived in Chinese Taipei on Wednesday (February 15) for a 10-day training camp staged in partnership with the

Chinese Taipei Volleyball Association. Head coach Odjie Mamon heads the team’s training camp that includes tune-up matches with top Taiwanese pro clubs Taipower, Win+Streak, Taichung Apollo and TFMI Falcon in the cities of

I w as too young to cover the YCO Painters and the Ysmael Steel Admirals when they duked it out gloriously in the basketball battlefields of their era. But I was already a bright-eyed and bushy tailed female sportswriter when the next big rivalry seethed in Philippine basketball.

C rispa and Toyota were made for each other like Muhammad Ali was born to tangle with Joe Frazier. Or Nikola Tesla with Thomas Alva Edison. Or Obi Wan Kenobi and Darth Vader.

Crispa-Toyota rivalry remembered

MY exciting adventure as a sportswriter was definitely blessed with the best and the brightest things to cover. Moving from basketball to golf to boxing to motocross or whatever my then editors—Vic Villafranca and Tito Tagle of Sports World, and Sim Sotto of Sports Weekly—assigned me to, I was fascinated with basketball rivalries’ best.

I n the pre-pro basketball era of the Manila Industrial and Commercial Athletic Association (MICAA), Crispa was the most dominant and the most hard to beat team. Locked in a rabid rivalry with the Meralco Reddy Kilowatts in the early 70s, the Danny Floro-owned team lost its reason for being when Meralco disbanded. Not long after, the Komatsu Comets barged into the MICAA like dazzling white knights to challenge the dominance of the Crispa Redmanizers.

A nd that was how the most storied rivalry in Philippine basketball began. When both the Redmanizers and the Comets quit the MICAA to join the fledgling Philippine Basketball Association (PBA), they carried on their fresh feud into the young pro league and gave it its “watchability.”

Unused to the new ways and values of a play-for-pay league, basketball fans still ached somewhat for the MICAA games and had a hard time adjusting to the new unfamiliar teams.

to be feted with Major Awards, while Diaz-Naranjo gets the distinction as the PSA Athlete of the Year for the second straight time.

A lso to be cited besides the SEA Games gold medalists are Chezka Centeno, Marie Antoinette San Diego, Efren Bagamasbad, Ronald Lomotos, Philippine Navy Standard Insurance, pencak silat team, Letran Knights, Joyce Reboton, Dottie Ardina, Rianne Malixi, Kaizen dela Serna, Andrico Mahilum, Mark Julius Rodelas and Sandi Abahan. Entities receiving the same award are Philippine National Volleyball Federation, and the Bases Conversion and Development Authority.

Tennis prodigy Alex Eala will receive the President’s Award and the late athletics great Lydia De Vega will be inducted in the PSA Hall of Fame.

Kaohsiung, Taichung and Taoyuan.

The PNVF will determine from the pool the composition of the national team that will compete in the Cambodia 32nd Southeast Asian Games from May 5 to 17.

It will be a comprehensive and active training camp for our men’s pool from where we will pick our national team for Cambodia,” PNVF president Ramon “Tats” Suzara said.

Suzara arranged the training camp through Chinese Taipei Volleyball Association secretarygeneral Chan Jing-Jong.

The members of the pool are Jade Disquitado, Lloyd Josafat, Rex Intal, Rwenzmel Taguibolos, Leo Ordiales, Joshua Umandal, Vince Lorenzo, Jay Rack de la Noche, Madzlan Gampong, Kim Dayandante, Jelex Mendiola, Vince Mangulabnan, Edward Camposano, Jayvee Sumagaysay and Noel Kampton.

“Vitaly [Petrov] told me to just let it go if my back won’t cooperate, but let’s see,” said the 27-year-old world No. 3 and Asian record holder. Obiena has so far scooped three gold, two silver and one bronze medals in the indoor season. He got silver last January 26 at the Internationales SpringerMeeting in Cottbus, Germany, bagged gold at the Perche En Or tournament three days later in Roubaix, France, and bronze at the Mondo Classic in Uppsala, Sweden, last February 3.

Obiena again clinched gold medals at the Orlen Cup last February 5 and Copernicus Cup, both in Poland, last February 9. L ast week, Obiena clinched silver at the ISTAF Berlin tournament with a 5.82-meter despite his bad back. Obiena said he’ll take some rest after the indoor season before preparing for the outdoor season, which he said could be kicked off with the Cambodia 32nd Southeast Asian Games in May.

After Lievin, I will rest and prepare for a very long outdoor season,” he said. Josef Ramos

TORU NAKAJIMA grabs a two-stroke lead over four others, including two amateurs.

Nakajima grabs PGT Q-School lead, Woon fades in blustery conditions

TORU NAKAJIMA carded a 70 in blustery conditions to command the field with a two-stroke edge over erstwhile leader U Minn Woon and four others— including amateurs Gab Manotoc and Russell Bautista—halfway through the Philippine Golf Tour (PGT) Q-School at Splendido Taal in Tagaytay City on Wednesday.

N akajima, PGT winner in 2013 at Wack Wack and runner-up to Angelo Que in his last Tour stint at Anvaya Cove in 2017, used a hot backside start to recover from an opening 73 with birdies in the par-five Nos. 10 and 11 then picked up another stroke at No. 3 while bucking the strong winds.

H e fumbled with a bogey on No. 5 for a 36-34 but seized the solo lead at 143, towing 50 others to the final two rounds of the 72-hole eliminations offering 35 cards for this year’s PGT beginning with the International Container Terminal Services Inc. Negros Occidental Classic from March 15 to 18.

It was the returning Elmer Salvador, however, who made the biggest jump as the 2009 Order of Merit winner rattled off four birdies in a five-hole stretch from No. 2 on his way home to match Woon’s best 69 Tuesday.

From the brink with an opening 80, Salvador, who also birdied Nos. 16 and 17 against a double-bogey on No. 18 and a bogey on the first hole,

But the new Crispa-Toyota rivalry that blazed so brightly even in the dying days of the MICAA, provided basketballhungry Filipinos with familiar fodder to sink their teeth into. Changing their name to Toyota Comets in the pros, the Silverioowned franchise stood up to the reigning kings of local basketball and became the main reason for the PBA’s early success.

It was a classic match-up after all. Before Toyota came into the scene, Crispa had been the most pampered team in the history of Philippine ball. Provided with the best equipment and classy duds, supported by a team of trainers and fed with juicy steaks, the Crispa team even had its own quarters in old Manila to ensure that the team was solely focused on their game.

But Toyota did not just live up to Crispa’s standards, it even outdid its rivals in some areas. Pampered with the same training tools and talents, the Comets were just as well-fed, maybe even better funded, and lived in a well-furnished house with all the amenities in swanky Bel Air in Makati.

I f Crispa had Bogs Adornado, Atoy Co, Philip Cezar, Joy Dionisio, Jun Papa, Abet Guidaben, Freddie Hubalde, Johnny Revilla and later Padim Israel and Bernie Fabiosa, among others, Toyota had Sonny Jaworski, Francis Arnaiz, Ramon Fernandez, Abe King, Orly Bauzon, Ompong Segura, Arnie Tuadles, Emer Legaspi and the first PBA Rookie of the Year, Gil Cortez, at one time or another.

moved to joint ninth at 149 with Josh Jorge, who carded a 75.

Woon, who opened with a twoshot lead over Nilo Salahog, actually tried to pull away with birdies on Nos. 2 and 6.

B ut just when thought he had the firm and dry Splendido layout all figured out, he lost his rhythm and touch in high winds, bogeying Nos. 8 and 9, yielding more strokes on Nos. 12 and 14 and dropping two shots on the par-3 No. 17.

The 28-year-old Malaysian, who competed at home before competing here and will fly to Thailand next week, skied to a 76 and fell into a tie for second at 145 with Manotoc, Bautista, Salahog and Korean Hyun Ho Rho. M anotoc, a former Southeast Asian Games national team member, rebounded from a 74 with a 71, anchoring his fightback with a closing frontside 35 marked by three birdies against two bogeys, while Bautista bucked a two-bogey mishap at the front with three straight birdies from No. 10.  B ut the 22-year-old bidder from Mactan wavered with two bogeys against a birdie in the last five holes to settle for a 72.

R ho, who turned pro in Europe last year but who now calls Mount Malarayat his home, mixed two birdies with the same number of bogeys for a 72 while Salahog stumbled with four bogeys against two birdies and limped with a 74.

Even the coaches were a match to watch. Wiry Virgilio “Baby” Dalupan, a wise and wily genius of a coach, was quiet and lowkey. Dapper Dante Silverio, equally well-known in international racing circuits as he was in the basketball court, was chatty, sophisticated and people-friendly—the perfect foil.

Team-wise, it was glamour versus grit. It was rough-andrug ged basketball moves versus elegance and cerebral plays. But always skill versus skill.

Crispa and Toyota faced each other in six consecutive finals and 10 PBA finals in all. Their final trip to the championship was in 1981 for the Open Conference Finals where Toyota defeated Crispa, 103-97. All told, Crispa won six of the ten finals against Toyota, and Toyota won four. As far as cumulative games played, Crispa leads the tally, 65 to 58.

This Saturday, February 18, the Toyota Team celebrates its Golden Grand Reunion in a private party that will rock the scene. Organized by Gil Cortez and Coach Dante, the event will bring back Toyota teammates from other parts of the world to commemorate their achievement-studded 50 years.

M aybe next time, Crispa and Toyota will celebrate a big reunion together, says Gil Cortez, now a respected sports official. But for Saturday, it will just be Toyota in a night of fun, food, gags, music and grand nostalgia. L et the memories roll!