BusinessMirror January 10, 2022

Overseas Filipino Workers (OFWs) who are eager to spend Christmas

w w

this could help prevent placing the country in another strict lockdown,

this newspaper, is for travel restrictions to be put in place swiftly and

Monday, January 10, 94

Monday, November 29,2022 2021Vol.Vol.1717No.No.52

quences on the economy.”

See “Omicron,” A2

P25.00 P25.00 nationwide nationwide || 22 sections sections 18 20 pages pages ||

n n

NATL GOVT BORROWINGS FOR 10 MOS DIP TO P2.75T

By Bernadette D. Nicolas

T

Omicron risk spurs revival of quarantine rules in PHL

@BNicolasBM

HE national government’s gross borrowings as of end-October shrank by almost 6 percent year-on-year to P2.75 trillion.

By Samuel P. Medenilla

Latest data from the Bureau of the Treasury showed that the government’s gross borrowings during the IN sharp contrast to the traditional procession attended by millions 10-month period fell by 5.99grand percent of devotees in the streets of Manila (top photo taken in 2019), devotees from P2.92 trillion a year ago. of the revered 17th-century statue of the Black With only two months left for Nazarene wait on empty barricaded leading to its home, the Minor Basilica of the Black this year,streets the latest figure is already Nazarene, also known as Quiapo Church. warnings by health equivalent to 89.6 percent of Heeding its authorities of a super spreader event, the city government closed all roads P3.07-trillion borrowing program. leading to down, the church as thedomestic country faces a surge in Covid-19 cases. At Broken gross borright, a childfrom offers January sampaguitato flowers to Señor Koyang, as they call him, rowings October ROY DOMINGO/NONIE on Tindaloat Street in Tondo, Manila.down settled P2.23 trillion,

by REYES 5.08 percent from P2.35 trillion in 2020.

The bulk of the amount was PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. sourced from Fixed Rate Treasury The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO short-term borrowings from Bangko Sentral ng Pilipinas or BSP (P540 billion), Retail Treasury Bonds/Premyo Bonds (P463.3 billion), Retail Onshore Dollar Bonds (P80.84 billion). In the same period, there was also a net redemption of Treasury

By Jasper Emmanuel Y. Arcalas dating its registry following the them. This allows everyone to see Bills amounting to P43.94 billion. @jearcalas enactment of the Coconut Farmwho are listed in the registry and if Net debt redemption means

ers and Industry Trust Fund law. farmer doesn’t see his name then he there were more debts repaid comORE than 3 million Rosales explained that about shall coordinate with the PCA imBy Jasper Emmanuel Y. Arcalas @jearcalas pared to the amount borrowed durcoconut farmers and 500,000 coconut farmers and mediately,” he explained at a recent

ing the period. workers are now regisworkers were added to the PCA’s dialogue with coconut farmers.

Meanwhile, gross foreign bortered with the government’s reg2018 list that had about 2.5 million “On the other hand, if people rowings in the same period also istry, which serves as the basis coconut farmers and farm workers. would see names on the list and contracted by 9.7 percent to P518.7 for the number of people to be The PCA’s next step is to conthey think they are not coconut billion from last year’s P574.4 billion. covered by the utilization of the duct an exclusion-inclusion profarmers or their details are incor This was raised through global P75-billion coconut levy fund. cedure by making the updated rect, they can report it to the PCA

By Ma. Stella F. Arnaldo Valdriz said the event at Kerbonds (P146.17 billion), program Philippine Coconut Authority farmers’ registry public, providfor immediate action,” he added. @akosistellaBM mit La Union was attended by loans (P139.98 billion), euro-de(PCA) Deputy Administrator Roel ing everyone the opportunity to The PCA official noted that Special to the BusinessMirror “two of close contacts” of baliknominated bonds (P121.97 billion), M. Rosales said about 3.11 million check the veracity of the list, Rothe completion of the initial list

bayan Gwyneth Anne Chua, who a project loan (P86.41 billion), and coconut farmers and farm worksales added. of coconut farmers registry would ORE popular tourism had failed to follow governmentyen-denominated samurai bonds ers have been registered with the “The list will be posted in public be just in time for the expected destinations are now mandated quarantine proce(P24.19 billion). government since it started upspaces where people can easily see rollout of coconut levy-funded tightening entry redures and attended a party in See “Borrowings,” A2 quirements or closing temporarMakati City instead. He added, ily due to the apparent spread of Chua’s “test result confirmed

variant of Covid-19 is a carrier of the n Omicron n US 50.4600 n JAPAN 0.4374 n UK 67.2329thenOmicron HK 6.4722 n CHINA 7.9013 n she SINGAPORE 36.8968 AUSTRALIA Economic projections have pointfeared to cause some delays, accordto their areas. variant. On December 31, 2021, ed to 2022 as the year for economic reing to business leaders interviewed A popular surfing area in 15 of her close contacts tested covery but the recent Covid-19 surge, by the BusinessMirror.

San Juan, La Union is the latpositive for Covid-19.” no thanks to the Omicron variant, is est in the list of tourism areas Baguio City recently susSee “Omicron,” A2 that had to grapple with the pended the processing of visitor sudden explosion of Covid-19 permits after recording a rise cases. Mayor Arturo P. Valdriz in Covid cases. The city, along placed Brgy. Urbiztondo under with the provinces of Batangas, granular lockdown from JanuCagayan, Pampanga, Zambales ary 8 to January 23, after “18 as well as Iloilo City, Naga City, out of 20 individuals” who atand Lapu-Lapu City were placed ILIPINO shoppers and those recently signed into law by the tended a fund-raising event at under Alert Level 3 status from working in the retail industry President. a local restaurant bar “tested January 9 to 15 due to increased can soon expect more foreign Under R A 11595, the minipositive for Covid-19.”

Covid cases. retailers to come to the Philippines mum paid-up capital require The temporary closure for The Aklan local government bringing down the cost of goods and ment for foreign corporations 15 days, under his Executive has just reinstated its requirecreating jobs, according to the Deplanning to do business here Order No. 04-2022, “make[s] ment for domestic tourists to partment of Finance (DOF). was lowered to P25 million from way for the contact tracing and secure a negative RT-PCR test DOF said this is thanks to the P125 million. It also simplified give[s] ample time for thorresult prior to their visit to Boenactment of Republic Act 11595 the qualification requirements ough disinfection of business racay Island. or the amended Retail Trade Libfor foreign retailers. establishments.”

See “Tourism venues,” A2 eralization Act (RTLA) which was See “Foreign retailers,” A2

@sam_medenilla

I

NTER NATIONA L concerns over the possible spread of the more infectious Omicron Covid-19 variant prompted the government to reimpose mandatory facility-based quarantine for all arriving passengers in the country.

Acting Presidential spokesperson Karlo B. Nograles announced on Sunday that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) suspended the implementation of its Resolution No. 150A (s.2021), effectively imposing stricter protocols for all inbound travelers.

To note, IATF Resolution 150A had allowed fully vaccinated non-visa travelers from Green List areas to enter the country without the need for facility-based quarantine as long as they secure negative Reverse TranscriptionPolymerase Chain Reaction (RTPCR) test within 72 hours prior to their departure.

“Except for countries classified programs as President Duterte as ‘Red,’ the testing and quarantine is expected to sign the industry protocols for all inbound internadevelopment plan in early 2022. tional travelers in all ports of entry Rosales said the PCA will not shall comply with the testing and stop updating its list of coconut quarantine protocols for ‘Yellow’ farmers and enjoined them to reglist countries,” Nograles said, citing ister in order to reap the benefits the provision of IATF Resolution of the decades-long idled coconut No. 151-A. levy fund. “We will not stop at 3.1

By Cai U. Ordinario billion was extended to major He noted Hong Kong, which has million. We hope that more indi@caiordinario non-financial government firms confirmed a case of the Omicron viduals will register in our coconut in November. variant, will also fall under the Yelfarmers registry,” he said.

U B S I DI E S e x t e nd e d b y The firm that received the low list countries.

The updating of the coconut the national government highest subsidy was the National The suspension of the rules for farmers registry is mandated by to state-owned firms conIrrigation Administration (NIA) “Green List” countries will be in Republic Act (RA) 11524 or the tracted 45.88 percent in Novemat P3.97 billion in November last effect from November 28, 2021 to Coconut Industry Trust Fund Act. ber last year, while the 11-month year.

December 15, 2021.

See “3-M farmers,” A2 total was down by 13.01 percent, The BTr data showed this was Continued on A2 according to the Bureau of the followed by the Bases ConverTreasury (BTr). sion and Development Authority Data the BTr showed billion in sub36.2807 n from EU 56.5758 n SAUDI ARABIA(BCDA) 13.4531 with Source:P2.79 BSP (November 26, 2021) subsidies extended to Governsidy and the National Housing Aument- Owned and - Controlled thority (NHA) with P1.66 billion in Corporations (GOCCs) reached November 2021.

P12. 33 bi l l ion i n November For the January to November 2021, significantly lower than period, the GOCC that received the the P22.78 billion posted in Nohighest subsidies was state health vember 2020. insurer Philippine Health Insur In the January to November ance Corporation (PhilHealth) with period last year, total subsidies a total of P76.97 billion in 2021. extended by the national govern This was followed by the NIA ment reached P163.41 billion, a with subsidies reaching P34.18 13.01-percent contraction from the billion, and the NHA with P17.59 P187.86 billion posted in the same billion in the 11-month period in period 2020.

2021.

However, government subsi In November, there were nine dies grew 136.84 percent from the GOCCs that did not receive any P5.21 billion posted in October subsidies, including the Nation2021. al Electrification Administra More than half of the subsition (NEA). The firm also posted dies were extended to governthe lowest subsidies received or ment corporations worth P6.55 P22 million in January to Nobillion while the remaining P5.78 vember 2021.

OMICRON DELAYS PHL OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND RECOVERY—BIZ GROUPS M

I

T was supposed to be the start of a prosperous new year but instead the country woke up to a familiar nightmare—Covid-19 cases shooting up above 20,000 in a day— and businesses are hoping this is only short-lived so they can continue the momentum from the previous quarter.

PESO EXCHANGE RATES

More foreign retailers to cut costs, create jobs, says DOF

F

PESO exchange rates n US 51.1310

MORE TOURISM VENUES REEL FROM COVID SURGE

M

11-month GOCC subsidies contract 13% to ₧163.4B

S

n japan 0.4415 n UK 69.2058 n HK 6.5547 n CHINA 8.0105 n singapore 37.5825 n australia 36.6098 n EU 57.7525 n SAUDI arabia 13.6193

Source: BSP (January 7, 2021)

News

BusinessMirror

A2 Monday, January 10, 2022

‘Funds for key sectors’ free Covid tests in DOH budget’ A

MID calls for government to provide for more free testing against Covid-19 as a surge believed fueled by the Omicron variant risks derailing a fragile recovery, Senate President Vicente Sotto III affirmed over the weekend that Congress gave the Duterte administration the means for such, but said political will is necessary to make it a priority.

The Senate leader reminded everyone that lawmakers, before adjourning for their traditional year-end recess in December, already ensured availability of enough funds to bankroll the government’s efforts to effectively contain the spread of the coronavirus.

In an interview with DWIZ, Sotto remained confident that the Duterte government can also find the means to finance mass testing of high-risk populations threatened

by Covid-19.

Recalling earlier suggestions that government-backed free swab tests should have been done earlier to track down potential virus carriers, the Senate leader said this could still be done. “Pwede. Pwe-

deng pwede. Kaya yan kung gusto.

Kung gusto may paraan, kung ayaw may dahilan [Possible. Very possible.

That can be done if one wants it. If there’s a will, there’s a way; but for those who don’t want to, there’s always a reason],” said Sotto.

The Senate leader added that even if it was true that no funding was specifically allotted for “free mass testing” in the 2022 budget, there is an available option: “Well, you can classify it already under the budgets we have put in place in the Department of Health. [There’s something, and in the billions]. It’s a matter of, really, you set aside funding for which component of the program for Covid-response,” Sotto said, partly in Filipino. “It’s

Tourism venues...

The parties and gatherings over the holidays were blamed as the cause of a surge in Covid-19 cases on the island. Curfew hours were also reinstated between 10 pm and 5 am, the next morning. (See, “Negative RT-PCR test results for

a matter of management. Management plays a big role here.”

Solon weighs in

TO maintain the momentum of the country’s micro, small and medium enterprises (MSMEs), a lawmaker on Sunday said the government should invest in providing free antigen and RT-PCR tests to allow health authorities to properly segregate and isolate those who are sick without disrupting the lives and livelihood of those who are Covid-free.

AP Party-list Rep. Ronnie Ong, in a statement, said declaring another quarantine lockdown in Metro Manila and its nearby areas because of the recent surge in Covid-19 cases will only affect MSMEs, which represents 99.5 percent of all businesses in the country and employs more than 62 percent of the total labor force.

After the country shifted to alert level 3, Ong said MSMEs flourished anew and the country’s economy was getting back on track.

Another lockdown, he said, can have serious and unbearable setbacks on the country’s economic recovery especially on MSMEs whose capital have already been depleted because of the series of quarantine lockdowns.

“Many businesses are still barely recovering and have invested everything they have just to recover from almost two years of financial hemorrhage. I just wish that government should also look at their plight and support them by providing free antigen and RT-PCR tests to all. Let us not disrupt the people who are Covid-free by providing free and periodic mass testing,” Ong said.

Ong said that instead of resorting to sweeping community quarantines, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) should manage the Covid-19 problem through massive vaccination, mass testing, and effective contact tracing. Butch Fernandez, Jovee Marie N. Dela Cruz

Continued from A1

tourists on Boracay reinstated,” in the BusinessMirror, January 5, 2022.)

According to Regional Director Christine Mansinares of Department of Tourism-Western Visayas, “There were 121 active cases [in Bo-

racay] but most of them are on their seventh day of isolation. Around 60 percent are tourists.” Separately, data from the Aklan provincial health office showed a 33.6- percent positivity rate of 119 test samples on January 6. Of the 40 Covid-posi-

tive test results, the largest number, at 17, was in Malay, where Boracay is located.

No help from DOT, after all

Meanwhile, the DOT appears to have failed to assist incoming guests at the Berjaya Makati Hotel to find other quarantine hotels despite initial assurances.

Asked if they had a headcount of guests transferred to other hotels, Officer-in-Charge of the DOT-National Capital Region (NCR) Sharlene Batin told the BusinessMirror, “None.”

Last Friday she said, “For those incoming [guests], they [Berjaya] are asked not to accommodate anymore, so DOT is looking for other hotels for those with confirmed bookings, and Berjaya is facilitating the refund as well.” (See, “DOT looking for other hotels for displaced Berjaya guests,” in the BusinessMirror, January 6, 2022.)

According to the hotel, 18 of its guests tested positive for Covid and 80 were in the middle of their quarantine. It also had “20 quarantine guests per week coming in and have paid in advance.”

The hotel was ordered closed

by Makati City Hall on January 6, finding it liable for allowing Chua to skip her quarantine. The DOT had earlier given the hotel 15 days to respond to its suspension order, which was served on January 4, 2022. (See, “Berjaya Hotel gets slap on the wrist for letting ‘Poblacion Girl’ skip quarantine,” in the BusinessMirror, January 5, 2022.)

www.businessmirror.com.ph

Omicron...

Makati Business Club (MBC) Executive Director Francisco Alcuaz Jr. described the situation as a “setback” to the business sector which has recently regained its footing after a series of strict lockdowns.

“After a strong year-end, we had momentum to accelerate recovery.

Now many businesses are down again, with some closing temporarily,” he lamented.

Alcuaz is hoping that the pent-up demand will still offset this “cold start.”

“Businesses are preparing for this to go on for 2 or 3 weeks, then quickly reverse, as it has abroad.

More than that, they’d have to reassess,” he added.

Management Association of the Philippines (MAP) President Alfredo Pascual said also that the “unfortunate” surge in Covid-19 cases will not bode well for the business sector.

“It will set back our country’s economic recovery and cause undue hardship for the business sector and the workers who will lose their jobs,” he said.

Philippine Chamber of Comme rc e a nd I ndu s t r y ( P CC I ) President George T. Barcelon, meanwhile, said that businesses are cautious amid the recent Covid-19 surge, but highlighted their optimism.

Prior to the current Covid-19 situation, he explained that the economy had been showing signs of improvement, noting that the concerns in the last six months were mostly confined to supply chains, citing the shortage of some production input.

“But in general, this is a national election year. And you have to extrapolate the additional campaign spending that will boost up the economy,” he added.

Still, businesses need to watch out for the developments with the shipping delays as the Omicron surge may likely close up borders, said Barcelon, who is also chairman for the Philippine Exporters Confederation, Inc. “I hope, gradually, the shipment will not be as constrained as before.

I cannot tell you when. It will depend on the economy,” he said.

Scaling down operations

Trade Secretary Ramon Lopez recently told reporters that malls and other establishments have begun slowing down operations, according to the reports they’ve received following the implementation of Alert Level 3 in the National Capital Region (NCR).

Under Alert Level 3—which is in place until January 15—indoor capacity for fully vaccinated and outdoor capacity are capped at 30 percent and 50 percent from 50 percent and 70 percent under Alert Level 2, respectively. These capacity limits are applicable to sectors given permission to remain operational under the new quarantine measure, including restaurants, barbershops, salons, fitness studios, cinema and film houses.

Foreign retailers...

“By lowering the minimum paid-up capital and simplifying the qualification requirements for foreign retailers, the amendments will significantly aid in incentivizing foreign retailers to come in and create jobs,” Finance Secretary Carlos G. Dominguez III said in a statement.

“This will also enhance competition among enterprises, which will be beneficial to our consumers by providing more choices at lower and more competitive prices,” he added.

Dominguez said the qualification requirements were simplified by removing required net worth, number of retailing branches, and retailing track record conditions.

The new law, the Finance Chief said, will create a level playing field which was previously domi-

Continued from A1

But the Department of Trade and Industry (DTI) has yet to determine the exact impact of the recent community quarantine measures on the retailers and mall operators.

“We will have to survey them.

These are new developments. But as we know the businesses, they will find ways to temporarily replace sick staff to ensure that operations continue,” he said.

Meanwhile, Lopez said the DTI has also observed further adoption of work-from-home arrangements amid the recent Covid-19 surge.

T h e t r a d e c h i e f e a r l i e r shrugged off the economic impact of the recent shift to Alert Level 3 in Metro Manila, saying it will only have a “minimal” effect due to continued operations of several sectors.

‘No need for AL 4’

Despite the surging Covid-19 cases, however, Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion sees no need for placing the NCR under Alert Level 4.

“The first quarter of the year is a weak and slow quarter since many have spent the money with Christmas gifts and New Year gatherings. This is the quarter where we see slow sales for most businesses,” Concepcion explained.

As such, he said that mobility is expected to drop and the public will likely avoid going out for now, given the several Covid-19 cases.

T h e G o N e g o s y o f o u n d e r stressed that “people are genera lly scared to go out now because of the increase in cases and they have a lready spent their money dur ing the holidays last month.”

In addition, he said that the private sector, including the micro, small and medium enterprises, cannot afford another lockdown.

Moving forward

Once again, business leaders are calling for continued vaccination, implementation of health protocols and better contact tracing to alleviate the crisis.

“Vaccination and health protocols are crucial components of the strategy to deal with the virus.

Thus, the government should sustain vaccine supply and the information campaign on safety practices,” MAP’s Pascual said.

Barcelon also said the government should maintain the implementation of granular lockdown measures to avoid further slowing down of mobility and business operations.

“We should also seriously consider wage support and unemployment insurance programs to help companies and people whole during periods like these, to preserve jobs and ensure people have the basics,” Alcuaz said.

On the part of the business sector, he advised them to improve business continuity plans and online platforms.

Continued from A1

nated by “already large enterprises” and prevented smaller investors such as startups from entering the Philippine retail market.

Dominguez also said that while the new law will allow more foreign retailers in the market, they are encouraged to have a stock inventory of products that are made in the Philippines.

“This will help protect our country’s small local manufacturers and encourage retailers to provide opportunities for locally-made products, despite being foreign-owned.

We hope this will also aid in generating much needed employment and income for Filipinos,” said Dominguez.

RA 11595 is one of the three investor-friendly measures endorsed

by President Duterte and whose

passage had been pushed in the Congress by Dominguez and the rest of the Chief Executive’s economic team.

The two others are the amendatory bills to the Public Services Act (PSA) and the Foreign Investment Act (FIA).

The bicameral committee report on the amendments to the FIA was ratified by both Houses on December 7, 2021 and is currently pending review by the Office of the President (OP).

Meanwhile, the Senate and House have passed their respective versions of the bill amending the PSA, but it still has to go through bicameral proceedings before being ratified by both chambers and then submitted to the President for his approval. Cai U. Ordinario

www.businessmirror.com.ph

The Nation BusinessMirror

Davao City Hall wields axe on unvaxxed City Hall staff

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

D

AVAO CITY—Be vaccinated or be axed. That is how city officials told employees who continue to defy the order of Mayor Sara Duterte-Carpio to have all the local government unit’s personnel vaccinated against Covid-19.

According to Lemuel Ortonio, chief of the Human Resource Management Office of the city government, they already advised the nonplantilla, or non-regular, employees not to report for work and “to wait for the signed master list of hired employees of the city government.”

Ortonio said there were 603 employees who continued to refrain from getting vaccinated since the mayor issued in September last year Executive Order 45-A that mandates the hiring of fully vaccinated individuals starting January 1 next year.

He added that out of the 19,000 personnel of the city hall, 18,397 have been vaccinated while 603 have not. The unvaccinated personnel are composed of both plantilla employees and individuals with a “contract of service” and job orders.

Ortonio said many of the unvaccinated non-regular personnel have pleaded to be renewed of their contract.

He said the remaining few plantilla employees would be subjected to administrative complaints which have the penalty whether suspension or dismissal.”

He added that unvaccinated personnel have cited health concerns and religious beliefs.

In September last year, DuterteCarpio issued EO 45-A, also known as “An Order Mandating the Vac-

cination of all City Government of Davao Plantilla, Job Order, Contract of Service, and Volunteers for Covid-19 and Stipulating Sanctions for the Refusal of Such.”

The EO ordered the mandatory vaccination of all city government employees on or before November 30, failure of which would be meted with sanctions.

The EO warned plantilla personnel who refuse to undergo vaccination “shall be held administratively for insubordination and shall be penalized with a one month and one-day suspension to six months for the first offense.” A second offense would mean dismissal from the service, which the EO cited Section 50 (d) of the 2017 Rules on Administrative Cases in the Civil Service (2018 RACCS).

The city information office the EO provided exemption from the mandatory Covid-19 vaccination to those who, for medical reasons, have contraindications to available vaccines to the person’s comorbidity.

It said the vaccine cluster of the Davao Covid-19 Task Force would endorse the exemption to the Human Resource Management Office.

Meanwhile, the vaccination cluster of the city reported that 1.16 million Dabawenyos have already taken their two doses of the Covid-19 vaccines as of January 6.

It said 1,237,997 have taken their first dose. A total 2,401,674 vaccines have been administered.

Davao City Covid-19 Task Force Spokesman and physician Michelle Schlossersaid,however,therewasaslow turnoutofboostervaccinationwithonly 49,215 Dabawenyos who availed of the third jab as an added layer of protection against Covid-19 infection.

Election period starts; QC bets’ standing cited in poll

By Samuel P. Medenilla @sam_medenilla

& Jovee Marie N. Dela Cruz @joveemarie

T

HE Commission on Elections (Comelec) said the 150-day election period officially started on Sunday, January 9, 2022, with several checkpoint operations in strategic locations to strictly implement the nationwide prohibition on the carrying of firearms.

Under the calendar for “Eleksyon” 2022, the election period started on January 9 with the implementation of Comelec Resolution 10728.

With the resolution, the Philippine National Police (PNP) has suspended the validity of all Permits to Carry Firearms Outside of Residence (PTCFOR) issued to licensed firearm holders, juridical entities and members of government law enforcement agencies.

The prohibition on the carrying of firearms by unauthorized individuals effective shall be implemented January 9, 2022 until June 8, 2022 in connection with the 2022 National and Local Elections on May 9.

Under this resolution, all guncarrying privileges by virtue of Permit to Carry Firearms Outside Residence (PTCFOR) issued by the Philippine National Police (PNP) are suspended for the entire duration of the election period.

Pinoys opt to go online for Black Nazarene feast

A

FTER the government “suspended” the conduct of the Traslacion, the traditional procession for the Feast of the Black Nazarene in Quiapo Church, thousands of Filipinos opted to show their devotion to the iconic image of Jesus Christ by participating in the numerous online masses held for the said event.

During celebration last Sunday, the Quiapo Church opted to just hold an hourly virtual mass, which started with the 4 a.m. Fiesta Mass celebrated by no less than Manila Archbishop Jose F. Cardinal Advincula.

At least 134,000 people watched the event, which was live streamed through Facebook.

During his homily, Advincula

lamented how the prevailing pandemic has deterred the traditional celebration of Traslacion for the second year.

“Despite this, we pray we will not be abandoned by our beloved Señor [Nazareno] even if we are far from him,” Advincula said in Filipino.

“We might not be able to visit him in Quiapo; then it will be the Señor who will be the one to visit our families and homes,” he added.

The Prelate urged the faithful to continue to pray to Christ, who continues to lift them from their plight in the current challenging times.

For his part, President Rodrigo R. Duterte urged Filipinos to pray for the country’s recovery from the pandemic.

“Although we may not be able

to take part in the usual Traslacion activities that have marked the celebration for centuries, let us keep on demonstrating our faith by praying for our country’s recovery and for humanity’s complete healing, especially from the ill effect of the Covid-19 pandemic,” Duterte said in his message for the Feast of the Black Nazarene.

Last week, the government decided to suspend the Traslacion and ban on live masses open to the public for the said celebration due to the recent surge in novel coronavirus disease (Covid-19) nationwide.

Government officials feared the Tralacion and masses during the Feast of the Black Nazarene could become a “superspreader event.”

Samuel P. Medenilla

Covid-19 keeps UniTeam HQ shut, but relief work goes on

T

O ensure everyone’s safety and protection, the BBMSara UniTeam headquarters in Mandaluyong City will remain closed for another week after a huge number of its staff and volunteers tested positive of coronavirus during a facility-wide RT-PCR tests conducted on Friday last week.

Initially, more than 30 HQ staff members and volunteers tested positive for the virus in last Monday’s (January 3) antigen testing, prompting former Senator Ferdinand ‘Bongbong’ Marcos Jr. to order

the lockdown of the building.

On Friday, a comprehensive RTPCR test showed at least 68 staff have been infected with the coronavirus.

A bulletin was immediately issued and all employees were sent home, except for a skeletal force tasked in the preparations and additional distribution of relief goods for typhoon ‘Odette’ victims.

“This [distribution of relief goods] cannot stop because the typhoon victims needed it badly and we have to keep our promise to help them get back on their feet,” former Davao

Editor: Vittorio V. Vitug • Monday, January 10, 2022 A3

congressman and UniTeam’s political officer Anton Lagdameo said.

Among those infected with Covid-19 was chief of staff and spokesman lawyer Vic Rodriguez, with whom Marcos was exposed to, and several close-in security personnel.

Lagdameo said “Bongbong was saddened by the unwelcome developments, but advised everyone to stay focused and let not their spirits be dampened because right now our major concern is still our fellowmen who were affected by typhoon Odette and by the new surge of coronavirus.”

Gun ban

THE PNP said its personnel have started conducting checkpoint operations to implement weapons check and other anti-criminality and police security operations, against loose firearms, deadly weapons, unauthorized security personnel, private armed groups (PAGs), criminal elements and wanted persons.

Exemption from the Comelecimposed firearms prohibition may be secured from the Comelec Committee on Ban on Firearms and Security Concerns (CBFSC). The Comelec first issued a certification of authority to carry or transport firearms to Comelec Commissioner Ma. Rowena Amelia V. Guanzon.

The PNP reminded firearm holders that violators face imprisonment of not less than one year but not more than six tears and shall not be subject to probation. In addition, the guilty party shall suffer disqualification to hold public office and deprivation of the right of suffrage and lastly, cancellation of and/or perpetual disqualification to secure gun license and/or permit.

Comelec Resolution 10695 said the campaign period for candidates for president, vice president and party-list groups, will start February 8 to May 7, 2022.

Also, it said the campaign period for candidates in local elective positions, city, regional, provincial, city and municipal officials and members

of the House of Representative will start on March 25 to May 7, 2022.

Local race

ANAKALUSUGAN Rep. Michael T. Defensor has widened his lead over Joy Belmonte in the race for mayor of Quezon City.

In the December 13 to December 19 latest “Pulso ng Bayan” (people’s pulse) survey conducted by The Issues and Advocacy Center, 51 percent of the city’s voters favored Defensor for mayor, with 32 percent going for Belmonte and 15 percent still undecided.

In the previous “Pulso ng Bayan” survey done September 27 to October 8, Defensor was preferred by 41 percent of voters while Belmonte was picked by 27 percent.

Quezon City is the country’s largest city in terms of assets, population and voters. Quezon City had 1.33 million registered voters in the 2019 mid-term elections.

The Comelec has yet to announce the exact number of people registered to vote in Quezon City in the May 9 elections.

In the city’s vice mayoralty race, 43 percent of the voters opted for Defensor’s running mate, former Rep. Winnie Castelo, while 22 percent chose Belmonte’s Gian Sotto.

Defensor is the mayoralty candidate of the tandem of former Sen. Ferdinand “Bongbong” Marcos Jr. and presidential daughter Davao City

Mayor Sara Duterte-Carpio.

Meanwhile, in Quezon City’s congressional races, the survey results showed that Defensor’s allies—incumbent Representatives Anthony Peter Crisologo (first district), Precious Hipolito-Castelo (second district) and Allan Reyes (third district)—are bound to win fresh mandates from their constituents.

Crisologo is favored by 46 percent of voters versus Arjo Atayde’s 23 percent.

Hipolito-Castelo enjoys 43 percent voter support compared to Wendel Tulfo’s 25 percent.

Reyes is preferred by 41 percent of voters against Franz Pumaren’s 25 percent.

In the fourth congressional district, Defensor’s candidate, Councilor Marvin Rillo, is in a virtual tie with reelectionist Rep. Jesus Suntay, with 36 percent and 39 percent voter support, respectively.

Suntay is the lone sitting congressman backing the BelmonteSotto tandem.

In the fifth district, Defensor supporter Rose Lin and rival Patrick Vargas are also locked in close fight, at 31 percent and 33 percent voter support, respectively.

In the sixth district, another Defensor ally, former Rep. Vincent “Bingbong” Crisologo, has 43 percent voter support versus Marivic Co-Pilar’s 24 percent.

Cops optimistic gunman’s arrest leads to solving Cavite prosecutor’s slay case

T

HE Philippine National Police declared on Sunday that it is close to solving the murder of a prosecutor in Cavite who was gunned down on New Year’s Eve following the arrest of a self-confessed gunman.

Marvin Tagayon Linaban, 44, the alleged lone gunman, was arrested during a drug buy-bust operation on Friday in Dasmariñas City, Cavite along with another suspect, who was his companion during the ambush.

A statement from Camp Crame said Linaban has admitted to police investigators his alleged participation into the murder of Trece Martires Assistant City Prosecutor Edilbert Mendoza.

The suspect has reportedly expressed remorse over the killing and his willingness to execute an extrajudicial confession in the presence of a lawyer of his choice.

PNP Chief General Dionardo Carlos believes Linaban’s arrest and his confession as the gunman would lead to the solution of the case where a thorough forensic and investigation are ongoing.

“If all evidence and facts check out, the arrest of Linaban could be a major breakthrough in the investigation of the murder of Atty. Mendoza,” Carlos said.

Mendoza was shot dead on December 31, 2021, in his residence at Barangay Cabuco, Trece Martirez City, Cavite.

Linaban was among two persons arrested by Cavite Drug Enforcement Unit operatives at 10:30 p.m. last Friday at Barangay H2, Dasmarinas City.

Another suspect, Elvin Esguerra, 40 years old, was wounded and arrested in an ensuing shootout with the arresting police team. He was taken to a local hospital under heavy guard.

Upon his arrest, Linaban was armed with a cal.45 Thompson Auto Ordnance pistol while Esguerra was armed with a 9mm pistol.

Both firearms have been submitted to the PNP Forensic Group for Ballistics examination.

During the drug buy-bust operation, the arresting team confiscated from the suspects several plastic sachet of suspected shabu estimated to be worth P69,000.00.

Meanwhile, Carlos reminded policemen and civilians about the carrying of firearms as the country officially entered the election period on Sunday.

The permit to carry firearms outside of residence for civilians is suspended while law enforcers, including the police are exempted as long as they bring their issued firearms while in uniform and in the performance of official duty.

“It should be understood that only on-duty police personnel, clearly identified as members of the PNP

are allowed to carry their firearms.

Any citizen may report to the PNP any police personnel abusing or violating this rule. We want to maintain discipline among our personnel,” Carlos said.

“May I also remind our police personnel that checkpoints are limited to visual search only. But if the need arises, especially under conditions authorized by law, the police may conduct further inspection,” he added.

The PNP chief issued his reminders to policemen, coinciding with the deployment of police personnel for the conduct of checkpoints around the country in relation to the elections.

Under a Comelec resolution, the checkpoints should have a properly labeled signage to notify the motorists of the checkpoint. It must bear the name of the chief of police in the area and should be positioned in a well-lit location that will not hamper the smooth flow of traffic and regular activities.

The policemen must also wear the prescribed uniform while conducting the checkpoint operations.

Carlos said the public are not compelled to go out of their vehicles for physical check because the inspection is meant to proceed only through visual search.

“They will not be required to open their glove compartment, trunk and bags,” he said. Rene Acosta

Soldiers recover firearms from suspected NPA rebels ‘Govt capable of replacing typhoon-spoiled vaccines’ S OLDIERS have recovered firearms believed to have been part of the weaponry of a unit of the New People’s Army operating in Cagayan.

Armed Forces Northern Luzon Command acting commander Major Gen. Andrew Costelo said the firearms, which included two M-16 rifles were seized following a tip off from a rebel.

The firearms were recovered at Sitio Daligan, Barangay San Juan, Rizal, Cagayan on Saturday as the

military has intensified its counter insurgency operations.

The military has been under strict orders from President Duterte to end insurgency before he leaves office next year.

Costelo said the firearms were recovered after an alleged former rebel identified as “Frank” who the military said “surrendered” on New Year’s Day disclosed their location.

The firearms were part of the weapons of the Komiteng Probin-

sya (KOMPROB) Cagayan of the Komiteng Rehiyon-Cagayan Valley (KR-CV) of the NPA. “The said firearms are subject to remuneration and will be processed through the help of the Department of Interior and Local Government,” said Brig. Gen. Steve Crespillo, commander of the 501st Infantry Brigade, whose area covers the whole of Cagayan province.

Costelo said they will continue to talk with the rebels and ask them to

take chance at the wide opportunities being offered to them by the government through its reintegration program.

“Nolcom will keep its doors open for negotiations and will continue to encourage all former rebels to encourage more members of the Communist Terrorist Groups to lay down their arms, go back to the folds of government, and become a productive citizen that will contribute to nation-building,” Costelo said. Rene Acosta

T

HE National Task Force (NTF) Against Covid-19 on Sunday said it can replace vaccines damaged during the onslaught of Typhoon Odette last month.

Assistant Secretary Wilben M. Mayor, head of strategic communications of the NTF Against Covid-19, made the assurance during a phone interview shortly after

the arrival of 2,703,870 doses of Pfizer Covid-19 vaccines donated by the US government through the Covax Facility.

He said the country has enough supply of jabs that could replenish the spoiled ones when “Odette” hit parts of Palawan, Visayas, and Mindanao on December 16 and December 17, 2021. PNA

News

BusinessMirror

A4 Monday, January 10, 2022

Spend for resto, accommodations increased, rebased CPI data shows

T

By Cai U. Ordinario

@caiordinario

HE increase in Pinoy’s spending for restaurants and accommodation dislodged transportation as the third-highest expense of households, according to the Philippine Statistics Authority (PSA).

The PSA recently released the rebased Consumer Price Index (CPI), which showed that food and nonalcoholic beverages and housing and utilities remained the top two expenses of Pinoys.

However, in the 2018 based CPI, restaurants and accommoda-

tion services took over the position held by transportation in the 2012 based CPI. “With bigger weights attached to this commodity group, movements in the prices of the commodities under these commodity groups will also have a significant contribution in the

inflation rates,” the PSA explained to the BusinessMirror.

“Based on our data, average inflation rates for restaurants and accommodation services are generally lower in 2019 and 2021 compared with 2020 when most of the restaurants and accommodation services were not in operation,” it added.

The PSA said the weight now assigned to restaurants and accommodation services is 9.62 percent. This means that 9.62 percent of household expenses go to items related to restaurants and hotels.

Activities linked to restaurants and accommodation services includes eating meals such as snacks, breakfast, lunch, dinner, and refreshments from restaurants, fast food chains and carinderia (small eatery), either dine-in or take-out; and, accommodation in hotels and

inns/lodge.

The adjustment in the weight assigned to restaurants and accommodation services reflects the increase in the spending made by households for these commodities and services in 2018.

“The weights of the commodity groups refer to their respective shares to the total expenditure of the households in 2018 for the 2018-based CPI and in 2012 for the 2012-based CPI,” the PSA added.

A rebasing of the CPI is done by the PSA periodically, specifically every six years. The 2018 base year for the CPI is the 12th base period and the 11th rebasing for the CPI. The rebased CPI will be used beginning in January 2022. The first inflation data that will be based in 2018 will be released by the PSA next month.

www.businessmirror.com.ph

DAR pushes for coconut farm clustering in N. Cotabato town

By Jonathan L. Mayuga

T

HE Department of Agrarian Reform and the local government unit (LGU) of Aleosan, North Cotabato, have formalized ties to boost the income of coconut farmers through a collective market scheme.

Under the “Linking Smallholder Farmers into Market with Microfinance,” or LinkSFarMM, project, the DAR and LGU of Aleosan will organize hundreds of coconut farmers to build a strong and reliable cluster of coconut farmers that would serve as potential suppliers in the collective marketing business of their coconut products.

Around 700 hectares of coconut farms are expected to be grouped into different clusters as part of the project.

Provincial LinkSFarMM Project Point Person Carylmark C. Bajao said during the recent cluster leaders’ training, that organizing farmers into clusters would give them greater opportunities in finding institutional buyers and higher prices for their copra, whole

nuts, and other coconut products.

LinkSFarMM is an innovative program of the DAR to make smallholder farmers increase agricultural productivity and effectively manage their agricultural production by applying a value chain process.

Aleosan Municipal Agriculturist Jimmy Basas said they are expecting more or less a thousand coconut farmers to be involved in the collective marketing scheme.

“We are amazed at the outcome of the LinkSFarMM project implemented by the DAR and we have also seen the impact in the lives of the cardava banana farmers in Aleosan which propelled us in replicating the technology to our coconut farmers,” Basas said.

The municipality of Aleosan is the first LGU in North Cotabato to replicate the DAR-LinkSFarMM project after the successful implementation of collective marketing on cardava banana handled by the New Leon Multi-purpose Cooperative, a DARassisted organization.

Subway project 25% completed–Tugade DPWH: Cebu, Mandaue anti-flood

By Lorenz S. Marasigan @lorenzmarasigan

T

HE P357-billion Metro Manila Subway Project (MMSP) has reached 25.09-percent completion, according to Transportation Secretary Arthur P. Tugade.

The chief of the Department of Transportation (DOTr) said the MMSP’s overall progress rate is a substantial advancement from when it was first conceived “more than 40 years and six administrations” ago.

“Now, the MMSP is already Neda [National Economic and Develop-

ment Authority] Board-approved, already funded by the Japanese; its partial operability civil works, trains and electromechanical systems already contracted. Actual construction works by the designbuild contractor for the partial operability section began in 2019 with site clearing works at MMSP’s Valenzuela Depot,” Tugade said over the weekend.

In February last year, two out of 25 Tunnel Boring Machines (TBM) to be used for the MMSP, arrived in the country, marking the start of the construction phase of the project.

The MMSP, dubbed as the “project

Daily Covid cases continue to climb, NCR top at 59%

By Claudeth Mocon-Ciriaco

T

@claudethmc3

HE Philippines last Sunday reported 28,707 Covid-19 cases, beating the previous record of its highest single-day count of new infections of 26,458 the other day. There are now a total of 2,965,447 Covid-19 cases recorded in the country.

The DOH also reported 2,579 recoveries and 15 deaths.

Of the total number of infections, 4.3 percent (128,114) are active, 93.9 percent (2,785,183) have recovered, and 1.76 percent (52,150) have died.

Of the 28,707 reported cases, 28,512 (99 percent) occurred within the recent 14 days (December 27 to January 9, 2022).

The top regions with cases in the recent two weeks were National Capital Region (16,803 or 59 percent), Region 4A (5,821 or 20 percent), and Region 3 (2,841 or 10 percent).

Of the 15 deaths, 11 occurred in January 2022 (73 percent), 1 in December 2021 (7 percent), 1 in October 2021 (7 percent), and 2 in September 2021 (13 percent).

Deaths were from Region 4A (3 or 20 percent), Region 6 (3 or 20 percent), Region 3 (3 or 20 percent), Region 2 (2 or 13 percent), NCR (2 or 13 percent), Region 7 (1 or 7 percent), and Region 1 (1 or 7 percent).

The late report on deaths is due to late encoding of death information to COVIDKaya.

“This issue is currently being coordinated with the Epidemiology and Surveillance Units to ensure information is up to date,” the DOH said.

135 duplicates were removed from the total case count. Of these, 116 are recoveries.

Moreover, 3 cases that were previously tagged as recoveries were reclassified as deaths after final validation.

of the century,” is envisioned to be a 36-kilometer underground railway system that will run from Mindanao Avenue in Quezon City to the Ninoy Aquino International Airport (Naia) Terminal 3 in Pasay City.

Once completed, the subway can accommodate 370,000 passengers per day and will reduce travel time between Quezon City and Pasay City to 45 minutes from 1 hour and 10 minutes.

The subway will be interconnected to the Metro Rail Transit (MRT) Lines 3 and 7, and the Light Rail Transit (LRT) Line 1 via the common station.

projects ‘substantially’ complete

T

HE Department of Public Works and Highways (DPWH) said on Sunday its P684-million flood mitigation project in the cities of Cebu and Mandaue is now “substantially” complete.

Public Works Undersecretary Emil K. Sadain said the Unified Project Management Office (UPMO) Flood Control Cluster “has posted a cumulative accomplishment of 95.5 percent in the implementation of the P684-million project contract for the

Taiwan-bound OFWs assured

by OWWA of full assistance

By Samuel P. Medenilla @sam_medenilla

T

HE Overseas Workers Welfare Administration (OWWA) said last Sunday it is ready to help overseas Filipino workers (OFW), who are bound for Taiwan, but are currently stranded due to the temporary entry ban imposed by the Taiwanese government.

In a phone interview, OWWA Administrator Hans J. Cacdac told the BusinessMirror they can extend food and accommodation to such OFWs if they will be stranded in airports.

“As to the financial aid, that is only given if an OFW is stranded due to a sudden imposition of a travel ban from the host country or the Philippine government,” Cacdac noted.

However, he noted that recruitment agencies are also mandated to help the stranded OFWs. “They should not be allowed to get stranded by their recruitment agency [in the airport]. For example, an OFW lives in Gensan (General Santos), they should not be brought to Manila or the airport,

while there is a pending issue [in their deployment],” Cacdac said in Filipino.

Philippine Overseas Employment Administration (POEA) Administrator Bernard P. Olalia agreed with Cacdac stressing the responsibility of recruitment agencies to help their OFWs. “If they [stranded OFWs] are agency-hires, their respective agencies are responsible to cover for transport and accommodation expenses,” Olalia told BusinessMirror in a Viber message.

OWWA made the assurance after recruitment consultant Emmanuel S. Geslani said the estimated 5,000 stranded OFWs are already qualified to OWWA assistance even if they are not yet deployed.

The said OFWs are currently stranded due to the existing temporary entry ban implemented by the Taiwanese government, which took effect from December 14, 2021 and will last until next month due to the celebration of the Chinese New Year.

Another hindrance to their deployment is the issue on who will pay for their quarantine expenses when they arrive in Taiwan.

Govt orders prioritization of patients, to put up emergency operation hubs

T

HE surge in health-care utilization in Metro Manila prompted the government to start prioritizing patients to be confined in hospitals in the said region and other parts of the country.

In a statement issued last Sunday, Acting Presidential Spokesman Karlo B. Nograles said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) ordered the Community Response Cluster and the Department of the Interior and Local Government to put up Emergency Operations Centers (EOC) with functional triage areas.

“These shall oversee patient navigation so that only those needing hospitalization are brought to the health facilities,” Nograles said.

The measure is expected to help decongest hospitals in the National Capi-

tal Region, which currently includes not only those with severe Covid-19 symptoms, but also those with minor or moderate symptoms as well.

The said EOCs were also tasked to ensure that those undergoing home quarantine are monitored by Barangay Health Emergency Response Teams and that access to testing, treatment and facility referral be made available to the vulnerable sector including the elderly and those with comorbidities.

Likewise, they were also directed to intensify active case finding in the NCR Plus, which includes Metro Manila, Laguna, Cavite, Rizal and Bulacan areas and to intensify active case finding and contact tracing strictly up to the third generation in all areas under Alert Level 2. Samuel P. Medenilla

river engineering intervention to protect properties and infrastructure from erosion and flooding in Cebu City and Mandaue City.”

It covers the continuation of revetment and dredging works for Tipolo River, Subangdaku River, Tejero River, Lahug River, Guadalupe River, Kinalumsan River and Bulacao River.

He added that the two other contract packages for flood control structures along seven rivers comple-

ments the said project.

The agency is also closely coordinating with the local government of Cebu to relocate informal settlers living along the Kinalumsan River.

The structures belonging to informal settlers “on left and right bank of Kinalumsan River covered by another on-going contract package make it difficult for DPWH to fully implement the project,” Sadain explained. Lorenz S. Marasigan

House bet: Cut lawmakers’ pay by half; savings to fund devt programs for the poor

A

FORMER congresswoman and now civic leader of Quezon City wants the salaries of lawmakers cut by half, with the savings used to fund development projects for the poor.

“They are all rich men, after all, hacienderos (big landowners) in their constituencies. They can well afford doing away with a large chunk of their current pay,” former 2nd Dist. Rep. Annie Rosa Susano said.

If congressmen and senators are paid only half of their present salaries, “there will be enough funds for school buildings, hospitals and health centers and even newer boots for firemen who wear old worn-out boots as they go around fighting fires,” Susano added.

Susano, a 2-term congresswoman in the 90s, is running for election in May under the Malayang Quezon City party as representative of the fifth district of Quezon City. This is part of the old second district that she used to represent, which has been cut up to create the fifth and sixth congressional districts.

In an inter v iew on public ser v ice program “Su long Na Bayan” over radio station DW IZ, Susano told program host Lol ly R . Acosta she is retur ning to politics “ because there are stil l a lot of things that have to be done for the benefit of our people.”

The owner of several successful businesses, mostly in real estate and property development, said that while she felt fulfilled with her business ventures, “I felt like joining government service again because that is where you

can be of greater service to the people.”

As an officer of several foundations and nongovernmental organizations (NGOs), she helped put up schools catering to the youth in poorer areas like Payatas in Quezon City and livelihood training for disadvantaged families.

Susano disclosed that during her first stint in Congress, she had sounded out her views about the excessively high salaries enjoyed by congressmen and senators.

“Colleagues at the House would tell me, ‘we’re friends, aren’t we? So let’s stop talking about that.’”

This time around, she said, she will seek to start a movement toward reducing the salaries enjoyed by lawmakers. “They are provided enough funds in the national budget for projects for their constituents. And there are a lot of perks and privileges that they enjoy. So why the astronomical salaries still?”

“If lawmakers, particularly congressmen, did not enjoy such high salaries, nobody would be so eager to run for Congress anymore. And there would be no more corruption, which happens because politicians have to pay back those who funded their election campaigns,” she said.

She called on politicians to stop prioritizing their payback to election supporters. “Let’s think of our countrymen, let’s give them a chance to have a taste of good governance. Let’s bring back public service to government, that is the true meaning of good governance, render service to the people,” Susano said.

BM : JANUARY 10 & 18, 2022

A6

Monday, January 10, 2022

The World BusinessMirror

Editor: Angel R. Calso

New York breaks Covid record as total infections top 4 million S

New South Wales reports deadliest day of pandemic

N

ew York reported a record 90,132 new Covid-19 cases on Saturday as the state passed 4 million total infections since the start of the pandemic.

Another 154 people died, one of the highest daily figures in almost a year. Hospitalizations continued to increase to 11,843 and t he state’s hea lt h- care system remains significantly strained.

Testing rose from the previous day, to 425,782, of which 21.17% were positive. That number is in line with the previous day’s positivity rate, even with almost 50,000 more tests administered.

New York is the fourth state to surpass 4 million infections, after California, Texas and Florida, according to data compiled

by Johns Hopkins University and Bloomberg.

US daily infections almost doubled over the last week, according to data compiled by Johns Hopkins University and Bloomberg. Average daily cases reached a record of more than 663,000 on Friday, compared with about 385,500 a week earlier, with hospitalizations rising rapidly and fatalities trending upward.

Meanwhile, California Governor Gavin Newsom has signed an executive order which prohibits sellers from increasing prices on at-home Covid test kits by more than 10%, according to a statement.

The Golden State is tackling an unprecedented surge in cases where Omicron now makes up more than 80% of infections.

Newsom is proposing a $2.7 bi l lion emergenc y response package in his budget Monday to boost testing and its health-

care system.

Key developments: China’s first community spread of Omicron

China saw its first Omicron cases in the community, igniting a mass testing blitz in the northern city of Tianjin as the country strives to maintain its zero-tolerance approach to Covid in the face of more transmissible variants.

The two cases in the port city were confirmed as being Omicron by the Chinese Center for Disease Control and Prevention, after its local branch completed the genome sequencing, CCTV reported. The infections were from the same transmission chain but officials have yet to establish if the strain is the same as imported Omicron cases reported earlier in Tianjin, according to the report.

China’s commitment to its Covid Zero policy has seen it restrict movements and implement mass testing and other measures in cities spread across the country.

Further outbreaks raise the risk of new lockdown measures that could disrupt production and shipping in an economy already battling weak consumption and a property market slump.

Tianjin first reported the two cases late Saturday and neither of the people, one of whom is a child, have traveled outside of the city in the past 14 days. The government announced that it will start mass testing from 7 a.m. Sunday, in order to “effec-

tively prevent the further spread of the omicron variant,” state news agency Xinhua reported.

China, which is set to host the Winter Olympics in Beijing next month, has been determined to maintain Covid Zero even as cases spread and other countries adopt policies of living with the virus.

The recent flareups, while small compared to international cases, are fueling the most protracted stretch of infections in China since the virus first emerged in Wuhan two years ago.

The southern technology hub of Shenzhen is discouraging people from leaving after reporting two infections, the eastern metropolis of Zhengzhou required all residents to be tested and Xi’an in the northwest has confined most of its population of 13 million to their homes since before Christmas. Tianjin Municipal Transportation Commission issued a ban on inter-provincial bus services from Sunday, according to local media reports.

China reported 92 new local cases on Saturday, which compares to 90,000 in New York state.

Indian cases top 100,000

India reported 159,632 new cases as the country notched its worst three-day stretch of infections since June.

The latest numbers mark the third straight day that infections have topped 100,000 with the country’s total reaching 35.5 million.

Virus-related deaths in India rose to 483,790.

Mexico breaks daily record with over 30,000 new cases

Mexico broke its record for daily Covid-19 infections, reporting 30,671 cases on Saturday as the omicron variant continues to spread.

Deaths rose by 202 to 300,303, while total registered cases reached 4.1 million. The country’s low testing levels means the real number of cases is likely much higher.

Mexico is expected to increase

vaccinations in the next few days with teachers scheduled to receive their booster shots starting Jan. 8.

Pre-registration for a third dose is also open for people 40 and over.

Currently, everyone over the age of 60 and health-care workers are eligible for a booster shot in the country. Mexico has fully vaccinated 57% of its population, according to data compiled by Bloomberg.

Thailand cases rise for sixth straight day

Thailand saw a sixth straight increase in Covid cases as it reported 8,511 new infections on Sunday, the highest single-day tally since Oct. 31.

The country also reported 12 new fatalities, as the Omicron variant continues to spread in the Southeast Asian nation. Cases have jumped in the last week after falling to a sixmonth low before Christmas. Health officials have warned that cases may rise rapidly following New Year celebrations.

On Friday, Thailand indefinitely suspended a quarantine-free visa program and imposed curbs on alcohol consumption and sales in an effort to curb the virus’s spread.

France protests oppose curbs on unvaccinated

Protests in France against President Emmanuel Macron’s restrictions on unvaccinated people more than 100,000 people on Saturday, according to interior ministry figures cited by Agence France-Presse. The turnout marked an almost fourfold increase from the last day of marches in December.

Demonstrators brandished placards slamming the government’s health pass and vaccination policy.

Ten people were arrested at the Paris protests and a further 24 in the rest of the country, the AFP reported.

French health authorities on Saturday reported more than 300,000 cases for the third day in the last week. Another 142 deaths were recorded. Bloomberg News

YDNEY—Australia’s New South Wales state reported 16 deaths on Sunday in its deadliest day of the pandemic, even as it relaxed rules to allow some essential workers in isolation to return to work if they are asymptomatic.

Just over 30,000 new cases were reported in Australia’s most populous state, forcing those people to join more than 200,000 others in isolation.

No statistics are kept to determine how many of those are essential workers in the food and manufacturing sectors. But some employers say up to half of their workers have been furloughed after coming into contact with a positive case.

Shoppers have reported empty shelves in many supermarkets because of the Omicron outbreak ’s impact on food processing and supply chains.

“Critical workers in the food logistics and manufacturing sectors furloughed as close contacts will be permitted to leave selfisolation to attend work if they have no symptoms of Covid-19, to ensure the state has continued access to essential goods,” New South Wales Health said in a statement on Sunday.

The workers can only leave self-isolation if their employer decides their absence poses a high risk of disruption to the delivery of critical services and if they are not able to work from home.

Returning workers will have to wear masks and comply with riskmanagement strategies required

by their employers, including daily rapid antigen tests. If they test positive, they will have to return to isolation.

The rule change applies in agriculture to bio-security and food safety personnel undertaking critical duties; in manufacturing to the production of food, beverages, groceries, cleaning and sanitary products; and in transport to food logistics and delivery.

The 16 people who died Sunday included eight women and eight men aged in their 60s, 70s, 80s and 90s, NSW Health said. The figure tops the previous record of 15 deaths, which has been reached twice, on Sept. 29 and Oct. 1 last year.

There were 1,927 people in hospitals, including 151 people in intensive care.

Victoria state reported 44,155 new cases on Sunday, including 22,051 from rapid antigen tests and 22,104 from PCR tests. Of those cases, 9,000 were from rapid antigen tests conducted on Saturday while more than 13,000 were done on previous days and reported Sunday.

The numbers do not necessarily reflect the true spread of the virus as they only count the number of recorded cases.

S c re e n i n g c a r r ie d out b y health authorities showed that around 80% of new cases were the Omicron variant.

Victoria recorded eight deaths on Sunday, but Australia Health Minister Greg Hunt said cases of severe illness are relatively low amid the spread of Omicron. AP

Cold kills 22 people stuck in cars in heavy snow at Pakistan resort

Mexico gets Japan PM: Deal reached on US military curbs to halt Covid-19 2.7 million doses of jabs as deaths top 300,000

M

EXICO CITY—The US company Moderna donated 2.7 million doses of coronavirus vaccine to Mexico Saturday as the country’s official death toll topped 300,000.

Mexico passed 300,000 testconfirmed coronavirus deaths this week, but so little testing is done in the country that a government review of death certificates puts the real toll at almost 460,000.

Mexican officials welcomed the arrival of the shipment at the airport in Toluca, just west of Mexico City, and said the vaccines will be used to inoculate teachers.

Teachers in Mexico were second after health care workers to be vaccinated in the spring.

In April and May, over 2.7 million teachers got initial shots.

But most of them got the singledose Chinese Cansino vaccine, whose effectiveness appears to decline over time.

Mexico has now obtained over 200 million doses of vaccines, and has been trying to reopen in-person learning at all levels.

Education Secretary Delfina Gómez said, “We are grateful to receive this donation, which will undoubtedly help more boys, girls and youths to come to classrooms with greater safety and confidence.” AP

Japanese Prime Minister Fumio Kishida speaks to the media at the prime minister’s official residence in Tokyo on Jan. 6, 2022. Kishida said Sunday, Jan. 9, Japan and the US have reached “a basic agreement” on banning the US military from leaving base grounds, amid growing worries about a sharp rise in coronavirus cases. Kyodo News via AP

T

OKYO—Japanese Prime Minister Fumio Kishida said Sunday that Japan and the US have reached “a basic agreement” on banning the US military from leaving its base grounds, amid growing worries about a sharp rise in coronavirus cases.

Kishida said American soldiers will stay on base “except when absolutely necessary,” which presumably means for emergencies or other security reasons. Details of the deal are still being worked out, he said on Fuji TV. The overall USJapan security alliance remains unchanged.

New daily Covid-19 cases have surged recently in what medical

experts call “the sixth wave.” New cases jumped above 8,000 on Saturday, a four-month record. The spike has been blamed on the US military because the case increases are most pronounced in areas near the bases.

Japan asked the US for cooperation in keeping its military personnel on base last week.

A spokesman for US Forces in Japan was not immediately available for comment on Kishida’s latest remarks. But Maj. Thomas R. Barger has said Covid-19 trends were being closely monitored among the ranks for “health protection and operational readiness” in Japan.

Okinawa, a southwestern group of islands that houses most of the 55,000

US troops in Japan, is among the three prefectures where new restrictions to curb the spread of infections kicked in Sunday.

The measures, which last through the end of the month, force restaurants to close early, at 8 p.m. or 9 p.m., and some must stop serving alcohol.

Government-backed restrictions also went into effect in Yamaguchi Prefecture, where Iwakuni base is located, and nearby Hiroshima. The Hiroshima Peace Memorial Museum, which documents the US atomic bombing of Japan at the end of World War II, and Hiroshima Castle are both closed to visitors.

Other regions may order similar regulations if cases keep rising. People have been warned to stay home and avoid travel. Until recently, bars, shrines and shopping districts have been jam-packed with year-end shoppers and New Year’s holiday travelers.

Japan has never had a lockdown but it has undergone periods of varying levels of restrictions, including school closures and event cancellations.

About 80% of the Japanese population has received the second vaccine shot. Boosters have barely started, with less than 1% receiving them, despite repeated promises by the government to speed up their rollout. Japan has set up stringent border controls, barring most incoming travel except for returning residents and citizens.

Japan has reported about 18,300 Covid-19-related deaths so far. On recent days, there have been just one or two deaths, and on some days, zero. AP

In this photo provided by the Inter Services Public Relations, people walk past vehicles trapped in a heavy snowfall-hit area in Murree, some 28 miles (45 kilometers) north of the capital of Islamabad, Pakistan on Saturday, Jan. 8, 2022. Temperatures fell to minus 8 degrees Celsius (17.6 Fahrenheit) amid heavy snowfall at Pakistan’s mountain resort town of Murree overnight, killing multiple people who were stuck in their vehicles, officials said Saturday. Inter Services Public Relations via AP

I

SLAMABAD—At least 22 people, including 10 children, died in a popular mountain resort town in Pakistan after being stuck in their vehicles overnight during a heavy snowstorm as temperatures plummeted, officials said Saturday.

Most of the victims died of hypothermia, officials said. Among them was an Islamabad police officer and seven other members of his family, fellow police officer Atiq Ahmed said.

More than 4 feet (1 meter) of snow fell in the area of the Murree Hills resort overnight Friday and early Saturday, trapping thousands of cars on roadways, said Interior Minister Sheikh Rashid Ahmed. The snow was so severe that heavy equipment brought in to clear it initially got stuck during the night, said Umar Maqbool, assistant commissioner for the town of Murree. Temperatures fell to minus 8 degrees Celsius (17.6 degrees Fahrenheit).

Officials called in paramilitary troops and a special military mountain unit to help. By late Saturday, thousands of vehicles had been pulled from the snow but more than a thousand were still stuck,

Ahmed said.

Most roads leading to the area’s resorts were largely cleared of snow by late Saturday, and military troops were working to clear the rest, Maqbool said. The military also converted army-run schools into relief camps where they provided shelter and food for the tourists who had been rescued.

Emergency officials distributed food and blankets to people while they were trapped in their snowedin vehicles, but many died of hypothermia. Others may have died from carbon monoxide poisoning after running their car heaters for long periods of time, said rescue services physician Abdur Rehman. As of late Saturday, the death toll included 10 men, 10 children and two women, Rehman said.

In one instance, a husband and wife and their two children all died in their car. In another, four young friends died together, he said.

Located 28 miles (46 kilometers) north of the capital of Islamabad, Murree is a popular winter resort town that attracts well over a million tourists annually. Streets leading into the town are often blocked by snow in winter.AP

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, January 10, 2022 A7

By Jasper Emmanuel Y. Arcalas @jearcalas

E

XPORT receipts from banana shipments in January to October 2021 declined by 35 percent to $926.937 million from the $1.435 billion recorded in the same period in 2020, according to the latest government data.

In terms of volume, Philippine Statistics Authority (PSA) data showed that banana shipments during the 10-month period plunged by nearly 40 percent to 2.020 million metric tons (MMT) from 3.333 MMT recorded in 2020.

Historical PSA data showed that banana shipments in January to October 2021 were the lowest since 2016, when the country exported 1.305 MMT valued at $575.792 million.

Japan was still the top buyer of Philippine bananas during the period, according to the agency. Shipments to Japan reached 770,954.763 MT, 39 percent lower than the 1.264 MMT recorded in 2020. The value of banana exports to Japan also declined by 37.2 percent to $399.701 million, from the previous year’s

$636.324 million.

China was the second largest buyer of local bananas during the 10-month period. Banana exports to China in terms of value declined by 24 percent to $314.981 million from $414.493 million while volume of shipments fell by 26.65 percent to 742,119.724 MT. PSA data also showed that the countr y’s banana exports to South Korea declined by 32.3 percent to $117.833 million from the previous year’s $174.016 million. In terms of volume, exports to South Korea plunged by 40 percent to 231,164.847 MT from 385,981.426 MT. In November last year, local banana exporters urged the government to initiate talks with Japanese retailers as they want to raise prices to offset rising costs.

In a letter to Philippine Agricultural Attaché to Japan Jose I. C. Laquian, the Pilipino Banana Growers and Exporters Association (PBGEA) sought the government’s support in requesting for higher prices for Philippine bananas.

The move, the PBGEA said, would help the local banana industry cope

BUSINESSMIRROR FILE PHOTO

‘Export earnings from bananas down by 35%’

with the many challenges it faces today, including disease outbreaks and rising production costs.

In October last year, the Depart-

ment of Trade and Industry (DTI) announced that local bananas will enter South Korea at zero duty following the conclusion of the negotia-

tions for the Philippine-Korea Free Trade Agreement.

Trade Secretary Ramon M. Lopez told reporters that South Korea will

allow the duty-free entry of Philippine bananas in five years.

In a recent statement, the Department of Agriculture (DA) said it will do its best to “maintain” the country’s position as a major exporter of banana by containing the Panama disease.

“We enjoy a comparative advantage in banana and pineapple, and for this reason, we at the DA invest in the development of the highvalue crops subsector through our High Value Crops Development Program. Undoubtedly, high-value crops can provide farmers and their families, entrepreneurs and other players in the agriculture value chain sustainable income,” Agriculture Secretary William D. Dar said.

“This year, the ‘OneDA Family’ will continue to encourage more farmers to shift to crops that are more sturdy, resilient, and with ready market, thus more profitable. This in addition to providing them production support, post-harvest facilities, and value-adding mechanisms to make Philippine farm and fishery products more globally competitive,” he added.

RE program for agri-fishery sector requires ₧8B–BAFE A

PROGRAM that seeks to increase the use of renewable energy (RE) systems and technologies in the agriculture and fisheries sector would cost some P8 billion, the Bureau of Agricultural and Fisheries Engineering (BAFE) said.

BAFE, an attached agency of the Department of Agriculture (DA), said it needs P7.976 billion to implement the eight-year Renewable Energy Program for the Agri-Fishery Sector (REPAFS) 2022-2030.

“REPAFS acts as the blueprint in the effective and efficient integration of RE in agriculture and fisheries sectors, and serves as a component

of the National Renewable Energy Program (NREP). Formulation of REPAFS is spearheaded by DA, through BAFE,” it said.

The REPAFS is a joint undertaking by the DA and Department of Energy (DOE) that seeks to increase the utilization of RE systems and technologies in the farm sector.

The BAFE noted that Republic Act 8435, or the Agriculture and Fisheries Modernization Act, mandates the DA to coordinate with the DOE to identify and install “appropriate types of energy sources, particularly non-conventional energy sources” to enhance farm productivity.

“Along that line, DA and DOE en-

tered into a Memorandum of Agreement (MOA) and a Joint Memorandum Circular (JMC) where a major item is for a renewable energy program to be formulated and implemented,” BAFE Director Ariodear C. Rico said.

“The goal of REPAFS is to promote the use of RE in the agriculture and fishery sector for enhanced productivity, sustainability, and environmental protection.”

The REPAFS’ six strategic directions are infrastructure and facilities support services, research and development, human resource development, standards development and enforcement, financing and credit

Cavite farmers get solar-powered irrigation systems from DAR

By Jonathan L. Mayuga @jonlmayuga

T

HE Department of Agrarian Reform (DAR) announced the turnover of solar-powered irrigation systems (SPIS) to two farmers’ associations in Cavite.

The solar-powered irrigation systems were received by the Tres Cruses ARB and Farmers Association, Inc. (TCARBFAI) in Tres Cruses, Tanza and San Isidro Labrador Farmers Multi-Purpose Cooperative in Muzon, in the town of Naic.

The irrigation system could irrigate a total of 15 hectares of agricultural lands.

Farmers in these areas usually depend on rain and could only cultivate their farms during the rainy season, diminishing their rice and vegetable production capacities.

In a statement, Provincial Agrar-

ian Reform Program Officer II James Arthur T. Dubongco said the newly awarded irrigation system, given its energy-efficient nature, is also expected to reduce the production costs, and ensure a year-round increase in yield from palay and vegetable production activities.

He said the two irrigation systems are worth P1 million each, could sufficiently irrigate the cooperative’s farm, and serve about 70 agrarian reform beneficiaries (ARB) in the area.

“The project entails a corresponding responsibility. Like a family, you will be in charge of the project, which is very important especially in taking care of your farms,” Dubongco said.

He said the newly constructed SPIS will increase their production activities in the area since it is now possible for the farmers to plant three times a year.

“Through this irrigation, farmers

will no longer rely on rain alone,” he said.

Tres Cruses Agrarian Reform Beneficiary And Farmers Association, Inc. President Danilo M. Arnes said with the help of the DAR’s SPIS, sufficient water would be equivalent to abundant harvests.

“We are very happy because we have been given this solar-powered irrigation system. We would also like to thank the cooperative because the SPIS was built within the cooperative’s land,” San Isidro Labrador Farmers Multi-Purpose Cooperative Chairman Floresita D. Jeciel said.

The SPIS is being implemented under the DAR’s Climate Resilient Farm Productivity Support Project which is designed to help ARB organizations in the remote areas irrigate their farmlands to increase their production even during the dry months.

La Niña halts Brazil soy record as analysts slash forecasts

T

HE world’s largest soybean producer and exporter will fail to deliver a record crop this year.

Crop forecasters have slashed their estimates for Brazil’s soy output as persistent drought and heat caused losses in the nation’s south.

Production is now seen below last year’s level, when the South American nation reaped 137.3 million tons.

The harvest could have reached as much as 145 million tons this season, according to initial forecasts.

A tighter supply of the oilseed used to make everything from cooking oil to animal feed may add fuel to global food inflation. Concerns over the South America crop have caused a rally in Chicago, with soybean futures

rising 13 percent since the beginning of December. Brazil’s lower production is also likely to curb its shipments and may increase the competitiveness of United States exports.

Heat and dry conditions were intense in December in Brazil’s south, a region accounting for about a third of the nation’s crop. That led brokerage StoneX to cut its production estimate by 7.7 percent to 134 million tons earlier this week. On Thursday, the local consultancy AgRural said output may be even lower at 133.4 million tons.

While losses in Parana are consolidated as the crop is at a more advanced stage, yields in Rio Grande do Sul, which has a late planting, also had a big cut as adverse weather

shortened the plant cycle in several areas, it said.

“Rain and lower temperatures are necessary right away to avoid more losses in the state,” AgRural said in its report. In other regions, the crop is developing well and high yields are expected in the top-growing state Mato Grosso, where reaping has started.

Lack of rain and extreme heat in southern Brazil are conditions caused by the La Niña phenomenon, which is hitting the nation’s agriculture for the second year in a row. Argentina, also a major supplier of the oilseed, faces a similar weather pattern, with moisture deficits reaching at least 75 percent of the nation’s soy next week, according to the Commodity Weather Group. Bloomberg News

support, and policy and incentives support, it added.

The REPAFS will be implemented by attached agencies of the DA, including the Sugar Regulatory Administration, Bureau of Fisheries and Aquatic Resources, Bureau of Animal Industry and the attached agencies of the DOE—the Renewable Energy Management Bureau and the National Renewable Energy Board.

“An increase in agriculture energy demand from mechanization, irrigation, drying/heating/cooling, storage and processing facilities (warehouses, cold storage, milling and processing facilities), livestock-

related facilities (piggery, milking parlors, slaughterhouses), and fishery and aquaculture related facilities (fish port, smokehouse) is observed,” BAFE said.

“The energy supply can be augmented by renewable energy sources like solar, wind, hydro, and biomass.”

An inventory of the completed and ongoing RE projects in the Philippine farm sector showed that 72 percent is on biomass, 20 percent is on solar, 4 percent is on wind and the remaining 3 percent is on hydro, the BAFE said.

“The adoption of renewable energy technologies in agricultural activities offers promising prospects in

addressing food and energy security together with the objective of environmental sustainability,” it said.

“However, despite the potential offered by renewable energy, the rate of adoption is relatively slow due to many challenges.”

Some of the challenges, the agency said, are the high cost of investment, limited support for RE technologies, lack of market-driven activities to showcase latest RE technologies, lack of skilled and competent technical experts, low number of existing standards for RE technologies, limited financing and credit support, and lack of incentives for RE end-users.

Jasper Emmanuel Y. Arcalas

A8

Monday, January 10, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Maybe Filipinos are smart

S

omeone posted this comment on Twitter. “In other nations the people line up to protest vaccines.

In the Philippines, we line up to be vaccinated.” We might also mention lining up to see Spider-Man: No Way Home, but the point is well taken.

No matter the amount and degree of hardship that we endured in the past two years, at no time did Filipinos riot in the street against the quarantine protocols. It might seem like not such a big deal, but it is. Virtually every “First-World” country was hit at times by massive protests.

“Tens of thousands of people have been marching in the Belgian capital, Brussels, to protest against anti-Covid measures.” “Germany: Covid protests put police under huge strain.” “Thousands of anti-vax protesters have taken to the streets of Melbourne to rally against Covid-19 restrictions.” “Thousands gather at Glasgow anti-lockdown protest.”

“Dutch police disperse thousands protesting against lockdown.” “Covid: Thousands protest in France against proposed new vaccine pass.”

The list could go on and on to recently include Canada, Switzerland, and Austria. Likewise Indonesia, Thailand, and Malaysia experienced the same last year.

However, the protests have gone beyond direct opposition to the health protocol restrictions. The most recent example is in the former member of the Soviet Union Kazakhstan where a reduction in fuel price subsidies saw prices skyrocket overnight.

But to a certain extent, the Kazakhstan riots and subsequent government “shoot to kill” orders are part of a much larger picture of people feeling that their government does not listen to the people.

While there are those that have tried without success to paint the Philippines with the same “protest brush,” it has not happened. “Jeepney drivers rendered jobless by the Covid-19 emergency protested in Caloocan on June 3, 2020.” “The Grand Mañanita protested the government’s response to the Covid-19 crisis and Congress’ passage of a controversial anti-terror bill.”

This instance is interesting. “The 2021 Greek protests broke out in response to a proposed government bill that would allow police presence on university campuses for the first time in decades, for which opposition groups accused the government of taking advantage of the Covid-19 lockdown to impose increasingly authoritarian measures.”

Certain political groups have tried to push the same narrative for the Philippines but have not succeeded. The large majority of the people do not see these so called “sinister” moves by the government.

The opposition’s political narrative is that the government has done a terrible job in managing the economy, Covid, inflation, and foreign policy. Yet the administration enjoys high approval and trust ratings.

This “Age of Rage” that we have seen globally perhaps beginning with the “Arab Spring” in 2010 has pitted the People against the Government. But who has been the “winner”? Further, why has the Philippines been spared?

When the People vote for candidates and support policies that certain quarters object to, the People are characterized as “stupid”. Yet we all know that political narratives are all about the “lust for power” and gaining that power. The easiest way to do that is to rely on the ignorance and “stupidity” of the public.

Italian economic historian Carlo M. Cipolla who died in 2000, wrote an essay in 1976 The Basic Laws of Human Stupidity in which he argued that a truly “stupid” person is one who “causes losses to another person or to a group while himself gains nothing and even possibly suffers losses.” Maybe Filipinos are not as stupid as some would want us to believe. Maybe Filipinos are even smart.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines.

Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025.

(Advertising Sales) 893-2019; 817-1351, 817-2807.

(Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Immune-boosting practices we can do today Atty. Jose Ferdinand M. Rojas II

RISING SUN

W

E are in the midst of another surge, this time due to the Omicron variant. OCTA Research estimates that more than half of Metro Manila’s population is likely positive for Covid-19. On January 8, the Department of Health (DOH) reported more than 26,000 new cases of the disease. It seems like every other person we know is either positive for Covid or sick with influenza, which is sweeping the nation at the same time.

The DOH keeps saying that isolation is very important to minimize the spread of the disease.

Undersecretary Maria Rosario Vergeire said that as soon as we experience symptoms, we must isolate even if we don’t have the lab results yet. This step is so crucial so that we don’t infect our housemates and/or workmates. We’re all being advised to continue washing

our hands, isolate and test as soon as symptoms are experienced. And, of course, vaccines offer additional protection so it’s important that we are fully vaccinated and boosted when it’s time.

Of course, we are all aware of the usual advice to increase our body’s immunity—exercise, proper diet, enough rest and sleep, adequate water intake, vitamin supplementa-

According to a review of studies on the effects of tai chi and qigong on the immune system and its response to inflammation, “current evidence indicates that practicing tai chi and qigong has a physiologic impact on immune system functioning and inflammatory responses.”

tion, and so on. We must never forget sunshine as it brings great benefits to our body and mind, increasing our body’s capacity to fight off diseases at the same time. It’s nice to spend at least 15 minutes in the sun by walking, jogging, doing yoga, reading, gardening, or any other activity that we can do outdoors.

Another important health aspect that we must take to heart has to do with avoidance or proper management of stress. When we are stressed, sad, depressed, angry—all the negative emotions—our bodies become weak, making us more susceptible to disease. So if we want to fight

this virus, we have to come up with ways to combat stress. Meditation, mindfulness, prayer, and breathing exercises are just some of the ways to manage stress.

For those who are practicing the ancient Chinese art of tai chi and qigong, here’s some good news from the National Library of Medicine’s National Center for Biotechnology Information (https://pubmed.ncbi. nlm.nih.gov/32629903/). According to a review of studies on the effects of tai chi and qigong on the immune system and its response to inflammation, “current evidence indicates that practicing tai chi and qigong has a physiologic impact on immune system functioning and inflammatory responses.” Further studies are needed to provide more specific clinic guidelines on how to harness the power of these ancient arts to promote health and wellbeing. In the meantime, we can search on YouTube for instructional videos to find tai chi and qigong routines specifically designed to boost our immune system.

Omicron explosion spurs nationwide breakdown of services

By Jennifer Sinco Kelleher And Terry Tang | Associated Press

A

mbulances in Kansas speed toward hospitals then suddenly change direction because hospitals are full. Employee shortages in New York City cause delays in trash and subway services and diminish the ranks of firefighters and emergency workers. Airport officials shut down security checkpoints at the biggest terminal in Phoenix and schools across the nation struggle to find teachers for their classrooms.

The current explosion of Omicron-fueled coronavirus infections in the US is causing a breakdown in basic functions and services—the latest illustration of how Covid-19 keeps upending life more than two years into the pandemic.

“This really does, I think, remind everyone of when Covid-19 first appeared and there were such major disruptions across every part of our normal life,” said Tom Cotter, director of emergency response and preparedness at the global health nonprofit Project HOPE. “And the unfortunate reality is, there’s no way of predicting what will happen next until we get our vaccination numbers—globally—up.”

First responders, hospitals, schools and government agencies have employed an all-hands-on-deck approach to keep the public safe, but they are worried how much longer they can keep it up.

In Kansas’ Johnson County, paramedics are working 80 hours a week.

Ambulances have frequently been forced to alter their course when the hospitals they’re heading to tell them they’re too overwhelmed to help, confusing the patients’ already anxious family members driving behind

them. When the ambulances arrive at hospitals, some of their emergency patients end up in waiting rooms because there are no beds.

Dr. Steve Stites, chief medical officer for the University of Kansas Hospital, said when the leader of a rural hospital had no place to send its dialysis patients this week, the hospital’s staff consulted a textbook and “tried to put in some catheters and figure out how to do it.”

Medical facilities have been hit by a “double whammy,” he said.

The number of Covid-19 patients at the University of Kansas Hospital rose from 40 on December 1 to 139 on Friday. At the same time, more than 900 employees have been sickened with Covid-19 or are awaiting test results—7 percent of the hospital’s 13,500-person workforce.

“What my hope is and what we’re going to cross our fingers around is that as it peaks...maybe it’ll have the same rapid fall we saw in South Africa,” Stites said, referring to the swiftness with which the number of cases fell in that country. “We don’t know that. That’s just hope.”

The Omicron variant spreads even more easily than other coro-

Schools from coast to coast tried to maintain in-person instruction despite massive teacher absences. In Chicago, a tense standoff between the school district and teachers union over remote learning and Covid-19 safety protocols led to classes being canceled over the past three days. In San Francisco, nearly 900 educators and aides called in sick Thursday.

navirus strains, and has already become dominant in many countries. It also more readily infects those who have been vaccinated or had previously been infected by prior versions of the virus. However, early studies show Omicron is less likely to cause severe illness than the previous Delta variant, and vaccination and a booster still offer strong protection from serious illness, hospitalization and death.

Still, its easy transmissibility has led to skyrocketing cases in the US, which is affecting businesses, government offices and public services alike.

In downtown Boise, Idaho, customers were queued up outside a pharmacy before it opened Friday morning and before long, the line wound throughout the large drugstore. Pharmacies have been slammed by staffing shortages, either because employees are out sick or have left altogether.

Pharmacy technician Anecia Mascorro said that prior to the pandemic, the Sav-On Pharmacy where

she works always had prescriptions ready for the next day. Now, it’s taking a lot longer to fill the hundreds of orders that are pouring in.

“The demand is crazy—everybody’s not getting their scripts fast enough so they keep transferring to us,” Mascorro said.

In Los Angeles, more than 800 police and fire personnel were sidelined because of the virus as of Thursday, causing slightly longer ambulance and fire response times.

In New York City, officials have had to delay or scale back trash and subway services because of a virus-fueled staffing hemorrhage.

The Metropolitan Transportation Authority said about one-fifth of subway operators and conductors— 1,300 people—have been absent in recent days. Almost one-fourth of the city sanitation department’s workers were out sick Thursday, Sanitation Commissioner Edward Grayson said.

“Everybody’s working ‘round the clock, 12-hour shifts,” Grayson said.

The city’s fire department also has adjusted for higher absences.

Officials said Thursday that 28 percent of EMS workers were out sick, compared with about 8 percent to 10 percent on a normal day. Twice as many firefighters as usual were also absent.

In contrast, the police department saw its sick rate fall over the past week, officials said.

At Phoenix Sky Harbor International Airport, two checkpoints at the airport’s busiest terminal were shut down because not enough See “Omicron,” A9

Opinion BusinessMirror

www.businessmirror.com.ph

This will be South Sudan’s hungriest year ever, experts say

Abishai Siegfred Bueno Mison, Esq.

THE PATRIOT

By Sam Mednick & Deng Machol | Associated Press

O

LD FANGAK, South Sudan—Nyayiar Kuol cradled her severely malnourished one-year-old daughter as they traveled for 16 hours on a crowded barge to the nearest hospital to their home in rural South Sudan. For months she had been feeding her four children just once a day, unable to cultivate because of disastrous flooding and without enough food assistance from the government or aid groups. She worries her daughter might die.

“I don’t want to think about what could happen,” she said.

Seated on her hospital bed in Old Fangak town in hard-hit Jonglei state, the 36-year-old Kuol tried to calm her daughter while blaming the government for not doing more. Nearly two years have passed since South Sudan formed a coalition government as part of a fragile peace deal to end a five-year civil war that plunged pockets of the country into famine, and yet Kuol said nothing has changed.

“If this country was really at peace, there wouldn’t be hunger like there is now,” she said.

More people will face hunger this year in South Sudan than ever, said aid groups. That’s because of the worst floods in 60 years, as well as conflict and the sluggish implementation of the peace agreement that has denied much of the country basic services.

“2021 was the worst year since independence in the 10 years of the life of this country and 2022 will be worse. Food insecurity is at horrific levels,” said Matthew Hollingworth, country representative for the World Food Program in South Sudan.

While the latest food security report by aid groups and the government has yet to be released, several aid officials familiar with the situation said preliminary data show that nearly 8.5 million people—out of the country’s 12 million—will face severe hunger, an 8 percent increase from last year. The officials spoke on condition of anonymity because they weren’t authorized to speak to the media.

Aid officials say worst affected Fangak county is now as bad as Pibor county was this time last year, when global food security experts said some 30,000 Pibor residents were likely in famine.

During trips to three South Sudan states in December, some civilians and government officials expressed concern to The Associated Press that people were beginning to starve to death.

In October, a mother and her child died in Pulpham village because they didn’t have food, said Jeremiah Gatmai, the humanitarian representative for the government in Old Fangak.

Nearly 1 million people across South Sudan have been affected by the floods, according to the United Nations, which last year had to reduce food aid by half in most places because of funding constraints, affecting some 3 million people.

Two years of floods have prevented people from farming and killed more than 250,000 livestock in Jonglei state alone, according to the UN Food and Agriculture Organization.

Some displaced families in Old Fangak said ground-up water lilies were their only daily meal.

“We eat once a day in the morning and then sleep without food,” said Nyaluak Chuol. The 20-year-old

Omicron. . .

continued from A8

Transportation Security Administration agents showed up for work, according to statements from airport and TSA officials.

Meanwhile, schools from coast to coast tried to maintain in-person

Jill Seaman, who works in Old Fangak with the South Sudan Medical Relief and has more than 30 years of local experience, concluded: "There are no resources, no harvest, and no cows, there's no place to look for food." like some others lost her fishing net in the floods. When she has enough money, she pays a boy to fish for her.

Many residents from Jonglei have fled to neighboring states for food and shelter but have found little respite. In Malakal town, some 3,000 displaced people were crammed into abandoned buildings or sheltered under trees with nothing to eat.

“We’re eating leaves and look like skeletons,” Tut Jaknyang told the AP. The 60-year-old has received food assistance just once since fleeing floods in Jonglei in July, he said. He and others said a sack of donated rice had to be shared among 20 people.

North of Malakal in the town of Wau Shilluk, health workers said the number of malnourished children coming into the medical center rose from 10 between January and July to 26 between August and December, according to Christina Dak, a health worker with the International Medical Corps.

While f looding is the main driver of hunger, it’s compounded by government deadlock as the country’s two main political parties try to share power.

L oca l of f icia ls in Ma l a k a l a l ig ned w it h t he opposit ion accused members of longtime President Salva Kiir’s party of undermining them by blocking pol it ica l appointees a nd not letting them fire corrupt staff, making it hard to govern and provide services.

“We’re not working as one team.

No one’s looking out for the people,” said Byinj Erngst, the health minister in Upper Nile state.

Adding to the political tensions is ongoing fighting between government and opposition-aligned militias in the country’s breadbasket in the southwest.

Government spokesman Michael Makuei said some relief such as medical services continues but there is only so much help that national authorities can give. “The floods have destroyed crops, what can the government do in that case?” he said.

Observers’ frustration is growing. In a speech to the UN Security Council in December, the head of the UN mission in South Sudan, Nicholas Haysom, warned of a collapse in the country’s peace deal if all parties didn’t renew their political will.

Jill Seaman, who works in Old Fangak with the South Sudan Medical Relief and has more than 30 years of local experience, concluded: “There are no resources, no harvest, and no cows, there’s no place to look for food.” instruction despite massive teacher absences. In Chicago, a tense standoff between the school district and teachers union over remote learning and Covid-19 safety protocols led to classes being canceled over the past three days. In San Francisco, nearly 900 educators and aides called in sick Thursday.

In Hawaii, where public schools

E

very turn to a new year brings with it a glimmer of hope for something better than what was. Alas, due to many factors, some self-inflicted, our country’s pandemic situation has turned from bad to worse. Some people have recklessly and unnecessarily exposed others to the virus, like “Poblacion girl.” I still believe that restrictions like face mask, but not face shield, are important to minimize the spread of the virus. It will just be a matter of time, hopefully sooner, when this vicious virus will be contained and managed.

With our country’s elections drawing nearer, it’s vital that we hold on to this hope that things will be more manageable with better leadership. Better leaders are those who are inherently giving—those who give their time and effort for the sake of others. In reuniting with some relatives in the United States last month, I noticed that some cities are stricter than others when it comes to pandemic restrictions where establishments require face mask, regardless of vaccination status. Others allow for optional wearing of face masks, especially in Austin, Texas. All airports seem to require them and travelers without are given masks for free! On separate days, I together with my cousin Suzanne and her son Karll, even lined up to get a Covid test kit in Brooklyn, New York and lined up, together with my brothers Michael and Salvador, to get a drivethru rapid antigen test in Salt Lake

City, Utah. I can only surmise that these free masks and test kits were made possible through the auspices of a better leadership.

During this same trip, I learned how a family got something for “free,” the value of which is beyond anything money can buy. My cousin Suzanne and her husband Ricky migrated to the United States a couple of decades ago and settled in New York. Together with their son Karll, they have been praying for a dog but could not find the right one. While watching TV one winter morning, my cousin was startled when a 911 ambulance pulled up in front of her NY condo. She and her neighbors witnessed how medical personnel tried to revive a man who suddenly passed out in the cold sidewalk in Manhattan. As the ambulance sped up to bring the man to the hospital, the condo residents noticed that a small dog was left behind. Since among the

Monday, January 10, 2022

For me, the best and perhaps the easiest way to be a gift to others in these coming months is to vote wisely. Vote not those with might, but those with heart!

With God’s wisdom, we need to choose God-fearing leaders who can be an Abishai to our beloved country. residents only my cousin didn’t have a dog, they all encouraged Suzanne to temporarily shelter the dog until the owner (presumably the man who was brought to the hospital) claims it. Days passed, no owner came. My cousin’s husband Ricky even inquired about the patient’s status and whereabouts but to no avail. As such, from being a temporary refuge, the house has become a permanent home for the dog, aptly named Abby.

True to the different meanings of her name, Abby was a gift from God (Abishai) and a cause for joy (Abigail) that came in the most unexpected way. In Biblical times, Abishai was the only one who accompanied David when he went to the camp of erstwhile King Saul and took the spear and water bottle from Saul as the latter slept. Abigail, on the other hand, is known for her wisdom and humility as her name means “Father’s Joy”.

Abby has been an incredible part of Suzanne’s family for the past years now and her presence in their lives has truly been a joyous gift.

She has served Suzanne as a support dog, providing reassuring comfort in all of her trips! Due to some medical complications, Abby recently had

A9

an eye surgery. Though blind now, she continues to be a blessing to Suzanne’s family. Abby now relies on Suzanne as much as Suzanne relied on Abby during her younger days.

After spending the Christmas season by coming together and exchanging gifts, we can be an Abby to others and for our country. The providential encounter and eventual relationship between Suzanne and Abby reminds me of how our Father God always provides us with opportunities to be a gift to others.

For me, the best and perhaps the easiest way to be a gift to others in these coming months is to vote wisely. Vote not those with might, but those with heart! With God’s wisdom, we need to choose Godfearing leaders who can be an Abishai to our beloved country. As to how, we simply have to vote based on our conscience and not on any personal agenda. Never vote for candidates just because they have “the family name” or because of their standings in the survey or because you belong to the same region or province or, worst, just because you were paid to do so. Vote people to public office because you trust them to be inherently giving persons—those who will be all out to serve and not be served. Those whose intentions align with Jesus Christ who said, “just as the Son of Man did not come to be served, but to serve, and to give his life as a ransom for many.” (Matthew 20:28) Beyond these voting-related “gifts” to each other, let’s remember that God has given us the ultimate gift in Jesus Christ—the best leader who gave His time and effort for the sake of others.

Prospects dim as US, Russia prepare to meet over Ukraine

By Matthew Lee | AP Diplomatic Writer

Though the immediacy of the threat of a Russian invasion of Ukraine will top the agenda in a series of high-level meetings that get underway on Monday, there is a litany of festering but largely unrelated disputes, ranging from arms control to cybercrime and diplomatic issues, for Washington and Moscow to overcome if tensions are to ease.

And the recent deployment of Russian troops to Kazakhstan may cast a shadow over the entire exercise.

With much at risk and both warning of dire consequences of failure, the two sides have been positioning themselves for what will be a nearly unprecedented flurry of activity in Europe this week. Yet the wide divergence in their opening positions bodes ill for any type of speedy resolution, and levels of distrust appear higher than at any point since the collapse of the Soviet Union.

US officials on Saturday unveiled some details of the administration’s stance, which seem to fall well short of Russian demands. The officials said the US is open to discussions on curtailing possible future deployments of offensive missiles in Ukraine and putting limits on American and Nato military exercises in Eastern Europe if Russia is willing to back off on Ukraine.

But they also said Russia will be hit hard with economic sanctions should it intervene in Ukraine.

In addition to direct sanctions on Russian entities, those penalties could include significant restric-

tions on products exported from the US to Russia and potentially foreign-made products subject to US jurisdiction.

Russia wants the talks initially to produce formally binding security guarantees for itself with a pledge that Nato will not further expand eastward and the removal of US troops and weapons from parts of Europe. But the US and its allies say those are non-starters intentionally designed by Moscow to distract and divide. They insist that any Russian military intervention in Ukraine will prompt “massive consequences” that will dramatically disrupt Russia’s economy even if they have global ripple effects.

In a bid to forestall efforts by Russia to sow discord in the West, the Biden administration has gone out of its way to stress that neither Ukraine nor Europe more broadly will be excluded from any discussion of Ukraine’s or Europe’s security.

Biden administration officials allow that neither topic can be entirely ignored when senior American and Russian diplomats sit down in Geneva in Monday ahead of larger, more inclusive meetings in Brussels and Vienna on Wednesday and Thursday that will explore those issues in perhaps more depth.

Still, the mantras “nothing about Ukraine without Ukraine” and “nothing about Europe without Europe” have become almost cliché in Washington in recent weeks, and senior US officials have gone so far

as to say they expect Russia to lie about the content of Monday’s meeting to try to stoke divisions.

“We fully expect that the Russian side will make public comments following the meeting on Monday that will not reflect the true nature of the discussions that took place,” said one senior US official who will participate in the talks. The official was not authorized to speak publicly and spoke on condition of anonymity.

That official and others have urged allies to view with “extreme skepticism” anything Moscow says about the so-called Strategic Stability Talks and wait until they are briefed by the American participants to form opinions.

Secretary of State Antony Blinken accused Russia of “gaslighting” and mounting a full-scale disinformation campaign designed to blame Ukraine, Nato and particularly the United States for the current tensions and undercut Western unity.

He said Russian President Vladimir Putin is engaged in an all-out war on the truth that ignores Russia’s own provocative and destabilizing actions over the course of the past decade.

“Russia seeks to challenge the international system itself and to unravel our trans-Atlantic alliance, erode our unity, pressure democracies into failure,” Blnken said on Friday, going through a list of offending Russian activity ranging from military intervention in Ukraine and Georgia to chemical weapons attacks on Putin critics to election interference in the US and elsewhere, cybercrime and support for dictators.

Despite several conversations between President Joe Biden and Putin, including an in-person meeting last summer, Blinken said such behavior continues, at increasing risk to the post-World War II global order.

are under one statewide district, 1,600 teachers and staff were absent Wednesday because of illness or pre-arranged vacation or leave.

The state’s teachers union criticized education officials for not better preparing for the ensuing void. Osa Tui Jr., head of the Hawaii State Teachers Association, said counselors and security guards were being pulled to

go “babysit a classroom.”

“That is very inappropriate,” Tui said at a news conference. “To have this model where there are so many teachers out and for the department to say, ‘Send your kid’ to a classroom that doesn’t have a teacher, what’s the point of that?”

In New Haven, Connecticut, where hundreds of teachers have

been out each day this week, administrators have helped to cover classrooms. Some teachers say they appreciate that, but that it can be confusing for students, adding to the physical and mental stress they’re already feeling because of the pandemic.

“We’ve already been tested so much. How much can the rubber

W

ASHINGTON—With the fate of Ukraine and potentially broader post-Cold War European stability at stake, the United States and Russia are holding critical strategic talks that could shape the future of not only their relationship but the relationship between the US and its North Atlantic Treaty Organization (Nato) allies. Prospects are bleak.

Thus, the intensified US and allied effort to forge common positions on both the warnings and the “severe costs” to Russia if it moves against Ukraine. While expressions of unity have been forthcoming, Blinken was not optimistic about prospects for success in the talks.

“To the extent that there is progress to be made—and we hope that there is—actual progress is going to be very difficult to make, if not impossible, in an environment of escalation by Russia,” he said.

Russia, meanwhile, has spun a narrative that it is a threatened victim of Western aggression and wants quick results from the meetings despite what appear insurmountable differences.

Putin has repeatedly warned that Moscow will have to take unspecified “military-technical measures” if the West stonewalls Russia’s demands, and affirmed that Nato membership for Ukraine or the deployment of alliance weapons there is a red line for Moscow that it wouldn’t allow the West to cross.

“We have nowhere to retreat,” Putin said last month, adding that Nato could deploy missiles in Ukraine that would take just four or five minutes to reach Moscow. “They have pushed us to a line that we can’t cross. They have taken it to the point where we simply must tell them; ‘Stop!’”

Russian Deputy Foreign Minister Sergei Ryabkov, who will lead Russia’s delegation at the Geneva talks across from US Deputy Secretary of State Wendy Sherman, said last week that it will quickly become clear whether the talks could be productive.

“It will become clear after the next week’s events whether it’s possible to achieve quick progress, to quickly advance on issues that are of interest to us,” he said in an interview with the daily Izvestia. band stretch here?” asked Leslie Blatteau, president of the New Haven Federation of Teachers. Kelleherreported from Honolulu. Tang reported from Phoenix. Associated Press writers Rebecca Boone in Boise, Idaho; Paul Davenport in Phoenix; Heather Hollingsworth in Mission, Kansas; Michelle L. Price, David Porter and Michael R. Sisak in New York; and Michael Melia in Hartford, Connecticut, contributed to this report.

Companies

Editor: Jennifer A. Ng

Monday, January 10, 2022

B1

‘Brands must embrace new trends to attract customers’

A

By Tyrone Jasper C. Piad

@TyronePiad

n e-commerce solutions provider is expecting that omnichannel strategies, personalization, sustainability and social commerce will be the primary trends for the digital commerce space this year—and online retailers are encouraged to embrace them to maximize business opportunities.

“To be able to stand out in an increasingly competitive industry, brands need to step up and embrace new trends and establish a differentiating factor in the name of appealing and gaining consumer’s attention,” Intrepid Philippines CEO Tina Bautista told the BusinessMirror.

Bautista said the omnichannel approach is the “go-to” for more

brands now as it allows the online retailers to gain more traction in the digital space.

“Taking the omnichannel approach in ecommerce by distributing products across various channels, including social or conversational commerce and quick commerce does wonders for online visibility,” she said.

Personalization, she noted, al-

lows businesses to build brand loyalty and enhance consumer experience through customized transactions. Citing a study, she said 91 percent of consumers are drawn to brands which offer more unique experiences for the customers.

Bautista is seeing more sustainability commitments on the part of the e-commerce firms as well.

“In 2022, we will observe more ecommerce platforms embrace and incorporate sustainable concepts across the board, especially in warehousing and logistics.”

The Intrepid official said social commerce will continue to rise as the global market is projected to reach $604 billion by 2027, with an annual growth rate of 31 percent.

“Next year, we will see social commerce prioritize sales and commerce driven strategies while marketplaces will shift the focus in keeping consumers engaged.”

Bautista also underscored the importance of cybersecurity for the sake of the customers.

She noted that safety and security while transacting is the top concern of online shoppers. It is only

imperative for digital marketplaces to identify the appropriate solutions to protect their customers, she said.

Competition With the e-commerce industry expanding, Bautista said new entrants might find it challenging to take a bite of the market share given the “significant headway” made by Lazada and Shopee.

She noted that the said e-commerce giants already have “massive investments in marketing, platform technology, customer discounts and subsidies and logistics infrastructure.”

Still, Bautista said there is still space for other players that focus on specific or specialized niches.

“Focusing on only one or two categories as opposed to general merchandise allows for more differentiation and a superior customer experience for their target audience.”

The Intrepid official said “capitalizing on social media and getting closer to owning the relationship with their end customers from a brand and purchase perspective” has also been gaining more traction.

Subic earns ₧65M from crew change

Newly-disembarked seafarers arrive via tugboat for processing at the Subic One Stop Shop and eventual transport to a quarantine facility in the Subic Bay Freeport. Photo by Henry Empeño

S Estafa raps against Okada junked

By Joel R. San Juan @jrsanjuan1573

T

HE Court of Appeals (CA) has ordered the dismissal of the estafa charges filed against Japanese gaming mogul Kazuo Okada and his associate, Takahiro Usui.

In a 24-page ruling penned by Associate Justice Alfredo Ampuan, the CA’s Sixteenth Division held that the Regional Trial Court of Parañaque City gravely abused its discretion when it issued arrest warrants despite the lack of probable cause against Okada, former chairman and chief executive officer of Okada Manila hotel resort, and Takahiro Usui, former president and chief operating officer of Tiger Resort Leisure and Entertainment Inc. (TRLEI).

“In this case, apart from the procedural defect of failing to issue an order explaining his finding of probable cause, the lower court likewise

Reliance to buy stake in Mandarin Oriental NY

M

ukesh Ambani’s Reliance Industries Ltd. has agreed to buy an indirect 73.37 percent stake in Mandarin Oriental New York for $98.15 million, the company said in a filing Saturday.

Reliance Industrial Investments and Holdings, a wholly owned unit of Reliance Industries, will buy the entire issued share capital of Columbus Centre Corp., a company incorporated in the Cayman Islands, which indirectly owns the stake in the luxury hotel.

The company said it will also seek to buy the remaining stake from other owners at the same valuation. The transaction is expected to close by the end of March. The deal follows Reliance’s purchase of Stoke Park Ltd., which owns and manages a hotel, and sports and leisure facilities in Buckinghamshire, for $79 million in April as the firm controlled by the Asia’s richest man extends its streak of acquisitions to pare dependence on profits from its traditional oil-refining business. Bloomberg News

gravely abused its discretion in issuing the warrant of arrest when the records suggest that there is no probable cause to indict petition and Usui of the crime charged against them,” the CA ruling states.

It can be recalled that the case was filed before the trial court in 2018 after the Department of Justice (DOJ) prosecutors found probable cause to indict Okada and Usui for three counts of estafa, on complaints filed by TRLEI owner and operator of Okada Manila, the largest casino-hotel integrated resort in the country.

The TRLEI accused Okada and Usui of misappropriation of company funds which happened when Okada was chairman and CEO of TRLEI, and Usui was its chief operating officer.

They were removed from TRLEI in June 2017. In its indictment, the DOJ found Okada, in conspiracy with Usui, to have received

$3,158,835 in salaries and consultancy fees without any authority or approval of the TRLEI Board.

Upon demand, the accused refused to return the money, thus appropriating the same to the damage and prejudice of TRLEI. Subsequently, the Parañaque court found probable cause and issued a warrant of arrest against Okada and Usui.

In nullifying the trial court’s ruling, the appellate court agreed with Okada that the amounts paid to him represent his compensation on account of the services that he rendered to the corporation and that Usui was empowered to fix the same.

“To recall, the subject amount in this case was not entrusted to petitioner for his safekeeping or administration. Rather, it was paid to him by the corporation in consideration of the services that he rendered as a consultant

of TRLEI and as its former CEO. As such, petitioner became the owner of the subject amount,” the CA pointed out.

It noted that Okada cannot be accused of misappropriating the amount that he received from TRLEI, as he is the owner of the same. In June 2017, the TRLEI board booted Okada from his post and removed him from the board along with Usui.

Subsequently, the board accused Okada of misappropriating TRLEI funds and went to court to compel him to account for the money.

“At most, private respondent [TRLEI] has the opportunity to seek recourse in a civil case if it truly believes that the disbursements were unauthorized. Unfortunately, it cannot insist on pursuing the instant criminal case against petition and Usui in light of the absence of probable cause to indict them for the crime,” the CA declared.

Sinclair lines up NBA for new streaming app

S

inclair Broadcast Group Inc.’s sports network unit is close to clinching deals to carry National Basketball Association games on its new streaming service and $600 million of financing to support the launch later this year.

The new loan for Diamond Sports Group’s venture could be announced along with local NBA streaming rights as soon as next week, according to people with knowledge of the matter. Diamond expects to roll out the offering in the first half of 2022, which will expand on its existing streaming service for regional TV subscribers, according to one of the people. They asked not to be identified discussing confidential negotiations.

The NBA deal will give Diamond regional digital rights to the basketball league in addition to the broadcast rights that the largest United States regional sports network operator already owns, according to one person. The streaming app will be financed with a new super-priority first-

lien loan from an existing group of secured creditors.

The company’s 5.375 percent first-lien notes due 2026 gained 4.25 cents on the dollar to 53.5 cents after Bloomberg reported on the deals. Its 6.625 percent unsecured bonds due 2027 gained 4.125 cents to 31.875 cents.

A representative for Sinclair, based in Hunt Valley, Maryland, and Diamond declined to comment. The NBA didn’t immediately respond to a request for comment.

Debt load

The launch could help Diamond break a slump in viewership and generate earnings to help manage the massive debts that stem from its 2019 sale to Sinclair.

The sports network and Sinclair have been in talks with creditors for months over ways to manage its $8.1 billion burden and support the development of the consumer app, which is key to its future as the traditional TV audience erodes.

The debt has no immediate maturities looming, but it has traded

at distressed levels while Diamond negotiated to secure streaming rights to various sports amid speculation that Major League Baseball would launch its own competing service. Creditors had previously sought a stake in the new consumer platform if it was created outside of the TV sports subsidiary that backs their investment.

The secured creditors, who are organized with law firm Gibson Dunn and investment bank Evercore Inc., have been covered by nondisclosure agreements in recent weeks while negotiators sought to finalize the terms, the people said.

Representatives for those firms, as well as company law firm WilmerHale and investment bank Moelis & Co., either declined to comment or didn’t immediately respond to a request for comment.

One remaining sticking point for the secured creditors had been two management services agreements that require Diamond to hand its parent tens of millions of dollars in annual cash payments. That was resolved through a reduction in the fee, the people said. Bloomberg News

ubic Bay Freeport—T he port of Subic grossed a total of P65.73 million in the 16 months that it has joined the government’s crew-change program that seeks to enable the safe and speedy travel of Filipino and foreign seafarers during the Covid-19 pandemic.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma said the additional revenue was realized after processing 254 crew-change operations since the designation of the Subic Bay Freeport as a crew-change hub in September 2020.

Eisma said the total income came from the P14.64 million earned from September to December 2020, and the P51.09 million collected last year.

This did not include income earned by local hotels and other tourism-related businesses that provided quarantine rooms and other services for the disembarked seamen, she added.

“The P65.7-million income is an additional windfall that SBMA earned by banking on Subic’s strict enforcement of health safety protocols,” Eisma said.

“And it was realized after Subic took the opportunity—despite initial disapproval by some neighboring LGUs [local government units]—to provide much-needed service at a time when only a few ports wanted to take in seafarers because of the virus threat.”

The SBMA chief said the Subic agency decided favorably on the crew-change project because it would not only bring crewmen home to their families, but would also help unlock congestion in ports and reboot the global supply chain that has been heavily impacted by the pandemic.

Records from the SBMA Seaport Department showed that a total of 62 vessels docked in Subic to change crew from September to December

2020, while 192 ships arrived here for the same purpose the whole year of 2021.

SBMA Seaport General Manager Jerome Martinez said that on the average, around 12 to 15 ships arrive in Subic each month for crew change, but on busy times as many as 25 ships may dock as they did in June last year, or even 33 as they did last November.

The ships arrive either to take in new on-signers to refresh the crew, or to disembark off-signers who must go on vacation or visit their families.

Martinez said that in the last 16 months, the port of Subic was able to process a total of 2,001 on-signers, of which 1,931 were Filipinos and 70 were foreigners of various nationalities.

At the same time, a total of 1,927 off-signers came onshore through Subic. These included 1,743 Filipinos and 184 foreigners, Martinez said.

The seafarers arrived in all kinds of ships like the MT Dapeng Star, a liquified natural gas tanker which was the first vessel to call in Subic under the crew-change program; MV Mindoro, a Panama-flagged vehicles carrier; MT Jason, a chemical tanker from Marshall Islands; MT Euro Integrity, a Liberian-flagged crude oil tanker; MV Nine Eagle, a Panama-flagged livestock carrier; and CS Cable Retriever, a dredging and cable-laying ship based in Singapore.

Aside from Subic and the Manila South Harbor, the other designated crew-change hubs in the country are the port of Batangas, Port of Cebu, Port Capinpin in Orion, Bataan and Port of Sasa in Davao.

Under the crew change program, disembarking seafarers have to quarantine in facilities designated under the One Stop Shop for Seafarers until testing negative in RT-PCR Covid-19 test which is taken on the sixth day after arrival. Henry Empeño

BMW tops Lexus in US luxury sales for 3rd year

B

MW AG outsold rivals Mercedes-Benz and Lexus in 2021 to lead United States luxurycar sales for a third consecutive year, buoyed by its efforts to navigate the chip shortage plaguing the auto industry.

The maker of the X5 SUV and 3 Series sedan trounced Daimler AG’s Mercedes by 32,705 units in the fourth quarter and more than 60,000 cars for the full year, a much wider gap than when the two were neck-and-neck amid the pan-

demic shutdowns of 2020. BMW’s deliveries jumped 21 percent last year to 336,644, while Mercedes sales rose less than 1 percent.

BMW capitalized on strong sales of its X3 crossover and X5 models, while sedans rebounded by 18 percent for the year. Pieter Nota, a member of the company’s board overseeing sales and branding, expects another boost this year as the company brings its electric iX sedan to battle with Tesla Inc. amid growing EV sales. Bloomberg News

B2

Companies BusinessMirror

Monday, January 10, 2022

PSE STOCK QUOTATIONS

January 7, 2022

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG PHIL STOCK EXCH VANTAGE

1,337,340 163,402,712 1,217,450 112,327,713.50 28,800 718,120 111,600 1,043,966 2,049,090 108,898,625.50 17,200 151,982 10,000 178,800 103,300 2,073,670 12,120 684,714 80 9,100 75,700 1,510,886 3,288,160 347,105,026 162,510 14,743,737 8,000 12,610 9,000 36,670 9,000 29,770 8,000 6,560 530,000 151,100 530 112,446 150,000 121,580

36,781,250 63,160,745.50 134,928.00 25,823,778.50 178,800 -359,920 526,580 -25,573,275 -602,472 0 -

INDUSTRIAL AC ENERGY 9.17 9.33 9.6 9.64 9.06 9.33 67,482,000 625,535,571 ALSONS CONS 1.03 1.06 1.08 1.08 1.03 1.03 606,000 638,000 ABOITIZ POWER 29.3 29.4 29.75 30 29.3 29.3 1,330,700 39,218,655 BASIC ENERGY 0.53 0.55 0.57 0.58 0.53 0.53 16,058,000 8,818,260 FIRST GEN 27.45 27.55 27.55 27.65 27.4 27.45 357,700 9,833,580 FIRST PHIL HLDG 69.9 71.9 69.95 71.9 69.9 71.9 70,040 4,913,032 MERALCO 302.8 306 305 306 301.2 306 137,400 41,816,538 MANILA WATER 23.75 23.8 24.2 24.25 23.7 23.8 1,119,400 26,791,270 PETRON 3.21 3.22 3.23 3.24 3.19 3.21 1,715,000 5,509,420 PHX PETROLEUM 10.52 10.68 10.54 10.68 10.54 10.68 18,200 193,270 SYNERGY GRID 12.84 12.86 12.92 12.94 12.62 12.86 3,539,500 45,233,442 PILIPINAS SHELL 19.24 19.4 19.48 19.48 19.22 19.42 9,800 189,714 SPC POWER 13.84 13.9 13.9 13.9 13.82 13.84 152,600 2,115,432 SOLAR PH 1.19 1.2 1.22 1.23 1.17 1.2 78,941,000 94,078,010 AGRINURTURE 4.72 4.78 4.82 4.89 4.72 4.79 158,000 764,040 AXELUM 2.89 2.9 2.84 2.9 2.82 2.9 263,000 753,050 CNTRL AZUCARERA 12.94 13.68 12.94 12.94 12.94 12.94 200 2,588 CENTURY FOOD 27.65 27.75 28 28.4 27.65 27.75 2,052,000 57,399,720 DEL MONTE 14.64 14.68 14.74 14.74 14.6 14.68 174,900 2,559,626 DNL INDUS 8.5 8.6 8.81 8.89 8.45 8.5 6,289,300 54,759,385 EMPERADOR 19.8 19.82 19.9 20 19.72 19.8 4,708,100 93,129,066 SMC FOODANDBEV 70 70.5 70.2 70.5 69.05 70.5 40,460 2,829,972 FRUITAS HLDG 1.15 1.17 1.17 1.18 1.15 1.17 3,911,000 4,539,620 GINEBRA 107 109.2 106 111.5 106 109.2 14,280 1,545,445 JOLLIBEE 214 215 216 216 212 215 396,440 84,773,298 KEEPERS HLDG 1.16 1.17 1.2 1.2 1.15 1.17 13,052,000 15,238,130 LIBERTY FLOUR 20.95 28.55 27 27 27 27 300 8,100 MAXS GROUP 6.36 6.39 6.4 6.4 6.35 6.36 23,700 150,813 MG HLDG 0.148 0.157 0.157 0.157 0.148 0.148 1,100,000 163,890 MONDE NISSIN 15.94 16 16.22 16.26 15.82 16 17,097,800 273,176,420 SHAKEYS PIZZA 9.75 10.1 9.92 10 9.65 9.75 304,800 2,983,742 ROXAS AND CO 0.62 0.63 0.63 0.65 0.63 0.63 1,570,000 993,290 RFM CORP 4.6 4.65 4.6 4.6 4.58 4.58 82,000 376,460 SWIFT FOODS 0.1 0.101 0.101 0.102 0.1 0.1 1,180,000 119,410 UNIV ROBINA 126.8 128 129.5 129.5 126.8 126.8 659,770 84,036,831 VITARICH 0.71 0.72 0.73 0.73 0.7 0.72 524,000 371,380 CEMEX HLDG 1.02 1.03 1.03 1.03 1.02 1.03 1,214,000 1,246,060 EAGLE CEMENT 14.76 14.86 14.88 14.88 14.66 14.76 601,100 8,916,192 EEI CORP 6.31 6.33 6.32 6.33 6.31 6.31 117,100 739,630 HOLCIM 5.31 5.36 5.5 5.53 5.31 5.31 38,600 210,555 MEGAWIDE 5.02 5.05 5.04 5.05 5.01 5.05 490,000 2,462,119 PHINMA 19.7 20.25 19.84 20 19.68 20 45,100 900,040 TKC METALS 0.77 0.8 0.76 0.77 0.76 0.77 14,000 10,760 VULCAN INDL 0.8 0.83 0.88 0.88 0.78 0.8 5,251,000 4,304,590 EUROMED 1.4 1.41 1.41 1.41 1.4 1.4 81,000 113,410 MABUHAY VINYL 4.1 4.28 4.2 4.29 4.1 4.28 41,000 169,490 PRYCE CORP 5.6 5.68 5.61 5.68 5.6 5.68 93,800 525,962 GREENERGY 2.16 2.18 2.23 2.27 2.1 2.18 3,006,000 6,564,100 INTEGRATED MICR 8.5 8.57 8.42 8.56 8.38 8.45 439,600 3,691,539 IONICS 0.69 0.71 0.68 0.71 0.68 0.71 77,000 53,250 SFA SEMICON 1.08 1.09 1.08 1.1 1.08 1.09 107,000 116,030 CIRTEK HLDG 3.56 3.58 3.59 3.59 3.5 3.56 666,000 2,344,940

-126,004,462 -20,287,285 2,200 6,497,780 -463,948 13,116,224 -3,615,590 -749,800 1,907,398 -42,886.00 393,218 1,903,990 -28,900 1,783,605 19,627,083 24,974,430.00 -1,529,497 4,600 629,094 -690,290 -94,340 8,100 109,633,328.00 -658,662 -651,570 321,300 -16,825,154 -17,280 7,802,674 -195,273 -21,656 10,800 -127,100 -568 -353,060 1,650,425 31,740.00 -91,120 52,800

HOLDING & FRIMS

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

122 92 24.85 9.34 53.1 8.8 17.46 20 55.9 104.1 19.94 104.1 90.7 1.58 4.05 3.21 0.81 0.285 210.2 0.81

0.88 828.5 56.5 11.48 7.7 0.86 0.4 0.385 5.07 7.85 7.5 2.3 0.265 526.5 3.48 56.2 6.1 0.63 2.97 9.66 3.82 2.86 1.29 1.09 937 110.2 123 0.23 0.169

123 92.5 25.1 9.37 53.5 9.56 17.88 20.05 57.3 115 19.96 104.9 91 1.63 4.07 3.32 0.9 0.32 213 0.89

0.9 830 56.7 11.52 7.9 0.91 0.41 0.49 5.08 7.89 7.8 2.72 0.285 530 3.76 56.25 6.3 0.65 3 9.73 3.85 3 1.32 1.1 940 112.8 127.4 0.249 0.178

122.9 92.05 24.95 9.35 53.25 9.57 17.88 20.25 55.9 114 19.98 110.8 89.9 1.57 4.08 3.21 0.82 0.29 213 0.82

0.87 847.5 56.4 11.5 7.95 0.87 0.42 0.4 5.06 7.91 7.61 2.29 0.265 538.5 3.48 56.6 6.1 0.63 3.03 9.78 3.89 3.06 1.34 1.14 944 112.8 123.1 0.23 0.18

123.5 93.95 25 9.4 53.5 9.57 17.88 20.25 56.5 114 19.98 110.8 94 1.58 4.08 3.32 0.82 0.315 215 0.82

0.92 847.5 56.75 11.62 7.95 0.91 0.42 0.4 5.07 8.12 7.61 2.29 0.265 538.5 3.48 56.6 6.1 0.66 3.03 9.82 3.89 3.06 1.34 1.14 944 112.8 127.7 0.23 0.18

120.7 91.8 24.85 9.31 52.8 8.8 17.88 20 55.9 113 19.94 104.1 89.9 1.57 4.07 3.21 0.82 0.28 210.2 0.81

0.85 821 54.85 11.4 7.7 0.86 0.395 0.4 5.03 7.78 7.5 2.28 0.265 524 3.48 55.45 6.1 0.63 3 9.64 3.8 2.83 1.28 1.1 932 110 123.1 0.23 0.168

123 92.5 24.95 9.37 53.5 8.8 17.88 20.05 55.9 113 19.96 104.1 90.7 1.58 4.07 3.32 0.82 0.315 210.2 0.81

0.9 828.5 56.7 11.52 7.7 0.91 0.4 0.4 5.07 7.89 7.5 2.28 0.265 526.5 3.48 56.2 6.1 0.63 3 9.66 3.85 3 1.29 1.1 937 112.8 127.7 0.23 0.18

6,426,000 256,040 1,138,010 2,562,600 4,400 131,000 150,000 10,000 225,800 6,103,000 7,500 3,000 100,000 254,600 2,000 1,811,840 1,000 207,000 69,000 1,809,300 5,652,000 20,000 127,000 44,000 173,030 117,600 590 50,000 200,000

5,623,810 211,862,085 63,983,320.50 29,425,612 34,725 113,910 59,700 4,000 1,140,127 48,552,675 56,699 6,860 26,500 134,449,840 6,960 101,818,834 6,100 130,510 207,780 17,517,610 21,678,170 59,330 166,670 49,440 162,084,920 13,140,872 74,971 11,500 35,420

PROPERTY AYALA LAND 33.85 33.9 34.55 34.65 33.7 33.85 10,437,800 355,819,490 AYALA LAND LOG 6.03 6.04 6.23 6.29 5.97 6.03 11,468,200 69,771,382 ARANETA PROP 0.96 0.99 0.97 1.01 0.96 0.96 66,000 63,690 AREIT RT 50.15 50.2 50.1 50.2 49.5 50.2 1,088,790 54,533,289 A BROWN 0.76 0.78 0.77 0.78 0.76 0.78 403,000 309,210 CITYLAND DEVT 0.74 0.75 0.73 0.74 0.73 0.74 36,000 26,470 CROWN EQUITIES 0.095 0.102 0.104 0.104 0.095 0.102 370,000 35,460 CEB LANDMASTERS 2.83 2.84 2.82 2.84 2.81 2.83 203,000 573,710 CENTURY PROP 0.395 0.4 0.395 0.4 0.39 0.4 4,480,000 1,769,750 DOUBLEDRAGON 7 7.1 7.05 7.1 7 7.1 525,500 3,689,305 DDMP RT 1.78 1.79 1.78 1.79 1.78 1.79 2,658,000 4,738,560 DM WENCESLAO 6.6 6.69 6.65 6.7 6.6 6.6 82,100 544,808 EMPIRE EAST 0.25 0.26 0.25 0.25 0.25 0.25 210,000 52,500 EVER GOTESCO 0.31 0.315 0.315 0.325 0.31 0.31 12,460,000 3,929,100 FILINVEST RT 7.49 7.5 7.45 7.51 7.45 7.5 4,394,300 32,950,693 FILINVEST LAND 1.09 1.1 1.08 1.1 1.08 1.1 4,424,000 4,821,390 GLOBAL ESTATE 0.95 0.96 0.95 0.97 0.95 0.96 289,000 275,290 8990 HLDG 11.14 11.3 11.58 11.8 11.14 11.14 555,000 6,290,848 PHIL INFRADEV 1.17 1.18 1.18 1.25 1.16 1.18 1,360,000 1,641,720 KEPPEL PROP 3.05 3.36 3 3 3 3 1,000 3,000 CITY AND LAND 0.85 0.87 0.85 0.86 0.84 0.85 114,000 97,200 MEGAWORLD 3.09 3.1 3.13 3.13 3.04 3.1 22,100,000 67,917,120 MRC ALLIED 0.228 0.23 0.242 0.244 0.228 0.228 9,020,000 2,109,710 MREIT RT 19.48 19.5 19.56 19.6 19.48 19.48 1,173,500 22,913,024 PHIL ESTATES 0.5 0.51 0.5 0.52 0.5 0.51 2,763,000 1,403,270 PRIMEX CORP 2.04 2.07 2.15 2.15 2.04 2.04 1,246,000 2,577,400 RL COMM RT 8.15 8.18 8.14 8.2 7.92 8.18 9,650,200 78,498,423 ROBINSONS LAND 17.7 17.96 18 18 17.28 17.96 2,811,200 49,742,622 SHANG PROP 2.58 2.61 2.6 2.61 2.6 2.61 17,000 44,220 STA LUCIA LAND 2.71 2.85 2.84 2.85 2.84 2.85 1,010,000 2,878,440 SM PRIME HLDG 33.1 33.3 33.5 33.8 33.1 33.1 7,227,200 240,318,540 SOC RESOURCES 0.6 0.63 0.61 0.61 0.6 0.6 500,000 300,400 VISTAMALLS 3.55 3.7 3.58 3.7 3.58 3.7 25,000 89,620 SUNTRUST HOME 1.08 1.09 1.08 1.09 1.05 1.09 122,000 131,170 VISTA LAND 3.42 3.43 3.49 3.49 3.41 3.43 320,000 1,104,730

SERVICES ABS CBN 12.5 12.82 12.7 12.94 12.5 12.82 137,200 1,757,480 GMA NETWORK 13.7 13.72 13.8 13.8 13.72 13.72 466,900 6,419,496 MANILA BULLETIN 0.42 0.435 0.415 0.435 0.415 0.42 50,000 21,350 MLA BRDCASTING 9.75 10.5 10.5 10.5 10.5 10.5 9,200 96,600 GLOBE TELECOM 3,252 3,270 3,268 3,288 3,228 3,270 35,590 115,719,590 PLDT 1,849 1,850 1,876 1,876 1,832 1,850 151,705 280,182,245 APOLLO GLOBAL 0.073 0.074 0.074 0.075 0.073 0.074 39,360,000 2,900,640 CONVERGE 31 31.15 31.15 31.45 30.7 31.15 5,335,800 164,779,975 DFNN INC 2.36 2.42 2.34 2.51 2.34 2.42 252,000 620,520 DITO CME HLDG 4.98 4.99 4.98 4.99 4.95 4.98 4,026,000 20,016,880 NOW CORP 1.16 1.17 1.22 1.23 1.16 1.17 1,206,000 1,441,480 TRANSPACIFIC BR 0.305 0.31 0.31 0.315 0.305 0.305 2,530,000 783,650 2GO GROUP 7.54 7.7 7.79 7.8 7.5 7.54 3,700 28,388 CHELSEA 1.61 1.63 1.61 1.65 1.61 1.61 61,000 98,790 CEBU AIR 39.95 40 40.9 40.9 39.9 40 473,100 18,969,695 INTL CONTAINER 193.9 194 193.5 195.9 192.6 194 1,001,670 194,160,110 LBC EXPRESS 22.55 23.95 22.55 22.55 22.55 22.55 100 2,255 LORENZO SHIPPNG 0.91 0.92 0.91 0.91 0.91 0.91 30,000 27,300 MACROASIA 5.15 5.17 5.15 5.2 5.1 5.17 1,302,600 6,705,278 HARBOR STAR 0.86 0.87 0.86 0.88 0.86 0.87 26,000 22,720 DISCOVERY WORLD 1.7 1.75 1.7 1.75 1.69 1.75 48,000 81,720 WATERFRONT 0.46 0.47 0.46 0.46 0.46 0.46 710,000 326,600 CENTRO ESCOLAR 6.51 6.97 6.51 6.97 6.51 6.97 1,600 10,462 FAR EASTERN U 535 550 549.5 550 535 550 120 65,820 IPEOPLE 6.99 7.54 6.99 6.99 6.99 6.99 2,300 16,077 STI HLDG 0.34 0.345 0.35 0.35 0.34 0.34 60,000 20,650 BELLE CORP 1.32 1.34 1.32 1.35 1.32 1.33 70,000 92,810 BLOOMBERRY 6.1 6.14 6.17 6.19 6.02 6.14 2,577,600 15,682,254 LEISURE AND RES 1.42 1.46 1.46 1.5 1.46 1.46 108,000 158,160 PH RESORTS GRP 0.72 0.74 0.74 0.75 0.72 0.74 352,000 258,400 PREMIUM LEISURE 0.425 0.43 0.42 0.425 0.42 0.425 590,000 249,800 PHILWEB 1.8 1.86 1.83 1.86 1.8 1.8 283,000 514,520 ALLDAY 0.6 0.61 0.58 0.62 0.57 0.6 63,294,000 37,964,650 BERJAYA 5.32 5.4 5.53 5.53 5.3 5.32 169,100 911,970 ALLHOME 8.69 8.7 8.65 8.7 8.64 8.69 351,100 3,046,988 METRO RETAIL 1.4 1.42 1.42 1.43 1.37 1.4 2,487,000 3,521,890 PUREGOLD 36.6 37.15 38.15 38.2 36.6 36.6 5,596,100 207,235,760 ROBINSONS RTL 54.5 54.9 57.95 57.95 53.85 54.5 2,477,010 136,519,964.50 PHIL SEVEN CORP 87.5 91 87.5 87.5 87.5 87.5 440 38,500 SSI GROUP 1.07 1.09 1.05 1.09 1.05 1.07 1,127,000 1,204,850 WILCON DEPOT 30 30.05 30.2 30.4 30 30 870,600 26,173,010 IPM HLDG 6.9 7 7 7 7 7 1,600 11,200 MEDILINES 1.07 1.08 1.1 1.11 1.08 1.08 6,719,000 7,336,290 PRMIERE HORIZON 0.495 0.5 0.52 0.52 0.495 0.5 8,124,000 4,043,220

MINING & OIL ATOK 6.19 6.37 6.14 6.59 6 6.19 608,200 3,802,512 APEX MINING 1.53 1.54 1.63 1.63 1.53 1.53 9,286,000 14,433,630 ATLAS MINING 6 6.01 6.03 6.06 6 6 724,700 4,357,976 BENGUET A 5.1 5.2 5.05 5.05 5.05 5.05 15,000 75,750 COAL ASIA HLDG 0.265 0.28 0.28 0.285 0.28 0.285 170,000 48,300 DIZON MINES 4.57 5.31 4.55 4.57 4.53 4.57 5,300 24,051 FERRONICKEL 2.05 2.06 2.05 2.1 1.99 2.06 4,644,000 9,401,960 GEOGRACE 0.183 0.19 0.185 0.185 0.185 0.185 10,000 1,850 LEPANTO A 0.132 0.134 0.134 0.135 0.132 0.134 2,960,000 395,580 LEPANTO B 0.134 0.138 0.136 0.136 0.134 0.134 110,000 14,860 MANILA MINING A 0.0093 0.0095 0.0097 0.0097 0.0095 0.0095 18,000,000 172,000 MARCVENTURES 1.22 1.23 1.3 1.33 1.21 1.22 2,780,000 3,494,500 NIHAO 1.01 1.04 1.01 1.02 1.01 1.01 35,000 35,370 NICKEL ASIA 5.06 5.07 5.18 5.18 5.05 5.07 3,683,400 18,695,684 ORNTL PENINSULA 0.77 0.78 0.82 0.83 0.76 0.77 934,000 730,400 PX MINING 5.07 5.08 5.25 5.25 5.07 5.07 1,059,700 5,419,461 SEMIRARA MINING 23.55 23.65 23.8 24.65 23.2 23.65 2,821,400 67,790,910 UNITED PARAGON 0.0065 0.0068 0.0066 0.0066 0.0064 0.0065 29,000,000 189,500 ORNTL PETROL A 0.01 0.011 0.011 0.011 0.01 0.01 4,300,000 43,200 ORNTL PETROL B 0.01 0.011 0.01 0.01 0.01 0.01 100,000 1,000 PHILODRILL 0.0094 0.0099 0.0088 0.0097 0.0088 0.0096 16,000,000 153,900 PXP ENERGY 5.85 5.99 5.95 6.05 5.8 5.85 197,700 1,178,164

PREFFERED ALCO PREF D 512 512.5 512.5 512.5 512 512 1,000 512,215 AC PREF B2R 520 524.5 520 520 520 520 220 114,400 CEB PREF 40.1 40.5 40.5 41 40.1 40.5 21,900 887,355 DD PREF 100.8 101.9 100.9 101.9 100.9 101.9 330 33,487 EEI PREF A 102.1 104 103 103 103 103 25,300 2,605,900 GTCAP PREF A 1,010 1,029 1,023 1,023 1,022 1,022 5,400 5,521,670 JFC PREF A 1,005 1,010 1,010 1,010 1,010 1,010 5 5,050 JFC PREF B 1,003 1,024 1,024 1,024 1,003 1,003 1,735 1,740,510 MWIDE PREF 2A 98 99.95 98.05 98.05 98 98 3,620 354,765 MWIDE PREF 2B 98.3 100.5 100 100 98.3 98.3 6,900 679,803.50 MWIDE PREF 4 100 100.5 100 100.5 100 100.5 60 6,025 PNX PREF 3B 100.8 101 101 101 101 101 2,280 230,280 PNX PREF 4 997 998 998 998 995 998 1,490 1,484,250 PCOR PREF 3A 1,032 1,060 1,060 1,060 1,015 1,060 1,135 1,198,600 PCOR PREF 3B 1,096 1,119 1,100 1,119 1,096 1,119 105 115,855 SMC PREF 2F 79.2 79.45 79.2 79.2 79.2 79.2 8,000 633,600 SMC PREF 2H 76 76.5 76 76 76 76 9,500 722,000 SMC PREF 2I 78.6 79 79 79 78.6 78.6 25,640 2,015,560 SMC PREF 2J 76.45 76.5 76.45 76.5 76.45 76.5 53,830 4,117,903.50 SMC PREF 2K 75.8 76.95 75.8 75.8 75.8 75.8 7,170 543,486 TECH PREF B2C 51.05 52.95 51.05 51.05 51.05 51.05 300 15,315 TECH PREF B2D 53.35 53.6 53.5 53.5 53.35 53.35 2,230 119,155

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.1 13.48 13.74 13.74 13.48 13.48 1,200 16,300 GMA HLDG PDR 13.1 13.5 13.1 13.5 13.1 13.5 79,300 1,056,250

WARRANTS TECH WARRANT 0.79 0.8 0.8 0.81 0.8 0.8 474,000 380,250

579,740 -56,433,410 985,326.50 12,850,636 -15,700 4,000 -99,120 -2,089,721 -14,440 -39,670,015 3,480 -5,533,844.50 4,710,855.00 12,231,010 30,423,895 -7,680,825 -10,800 -118,012,545.00 973,600 14,740,119.50 -50,050 -115,830 -150,050 -33,957 57,260 286,250 -438,924 819,120 483,496 -499,820 8,500 -3,377,930 -235,892 -667,680 18,757,514 6,296,552 -30,955,760 120,000 -11,550 -4,442,420 11,792,175 34,840,350 3,676,540 49,610 -7,454,660 -36,327,149 3,743,014 -27,600 16,077 3,500 -50,540 -3,415,866 73,000 -7,400 19,800 650,000 -50,905 2,178,985 -83,581,835 -38,391,699.50 -255,260 -10,996,695 272,790 -142,890 -197,444 314,790 -81,135 1,443,650.00 139,700 -2,552,640.00 -324,916 -3,456,990.00 604,700 -117,450 5,521,670 - 582,600 -

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS KEPWEALTH MAKATI FINANCE MERRYMART

18.8 1.13 2.81 2.4 2.31

FIRST METRO ETF

106.9

19.78 1.16 2.88 2.7 2.32

EXHANGE TRADE FUNDS

107.1

19.2 1.13 2.88 2.4 2.34

19.2 1.2 2.88 2.4 2.37

18.8 1.12 2.88 2.4 2.3

18.8 1.16 2.88 2.4 2.31

17,900 652,000 1,000 4,000 4,194,000

337,286 752,950 2,880 9,600 9,746,550

-637,870

108 108.5 106.9 106.9 14,140 1,517,289 17,403

www.businessmirror.com.ph

SEC warns public against dealing with Cryptostakers

T

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has warned the public against dealing with Cryptostakers and Trust Legacy International, which operate an online investment scheme that promises huge returns.

In its advisory, the SEC warned against investing in Cryptostakers as its investment scheme indicates that it is a Ponzi scheme. The company is being operated by Mark Jorrel Chavez, Marc Jeff Hofilena, Imalyn Espinosa, Lovely Sheymandani, Danilyn Corpuz, Hanilyn Arce Daquioag, Carina C. and Emeralda R. Based on reports from the public and as posted on Cryptostakers’ Face-

book page, it is enticing the public to invest a minimum amount of P1,000 with a promise of an 8-percent daily payout for 25 days or a 100-percent return on investment in 25 days.

An investor can also earn through direct referral of new recruits. The higher the investment, the higher the profit, which could go as high as 300 percent in 20 days for the P30,000 minimum cash out.

STOCK-MARKET OUTLOOK

The investment money can be deposited through the GCash or Unionbank accounts of the operators.

“Further, the scheme employed

by Cryptostakers/Crypto-Stakers. com shows indication of a possible ‘Ponzi Scheme’ where monies from new investors are used in paying ‘fake profits’ to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors,” it said.

Meanwhile, Trust Legacy International claims to be an automatic online investment platform engaged in bitcoin trading with its so-called bitcoin doubler and daily bitcoin program. Depending on the amount of investment ranging from $20 up to $20,000, it guarantees a 200-percent revenue after 35 or 100 days or an amount ranging from $40 up to $40,000.

It even claims that investors can rake in per-day earnings of $0.30 for

mutual funds

January 7, 2022

Last week

Share prices tumbled during the first trading week of the year as uncertainties loom over the rising Covid-19 cases.

The benchmark Philippine Stock Exchange (PSE) index fell 111.52 points to close at 7,011.11 points.

The main index was up only once during the 4-day trading week, down 81 points during the first trading week of the year and the PSE cancelling trading on Tuesday due to a technical glitch in its system. It went up during the resumption of trade on Wednesday but went down again the next two successive trading days as the number of Covid-19 cases rose rapidly.

Average daily value for the week was low at P5.32 billion as most investors stayed on the sidelines. Foreign investors, which accounted for a third of the total trade, were net sellers at P345.96 billion.

With the exception of the Holding Firms index that rose 38.53 points to close at 6,845.80 points, all other sub-indices registered declines.

The All Shares index fell 72.51 to 3,745.61, the Financials index declined 24.03 to 1,582.14, the Industrial index retreated 293.28 to 10,110.81, the Property index plunged 150.93 to 3,068.75, the Services index was down 44.60 to 1,941.77 and the Mining and Oil index shed 76.80 to 9,524.90.

For the week, losers edged gainers 174 to 48 and 28 shares were unchanged.

Top gainers for the week were Macay Holdings Inc., Bogo-Medellin Milling Co. Inc., Concrete Aggregates Corp. A, Semirara Mining and Power Corp., Manila Broadcasting Co. and Prime Media Holdings Inc. Top losers, meanwhile, were Berjaya Philippines Inc., ATN Holdings Inc. B, Paxys Inc., Robinsons Retail Holdings Inc., Vulcan Industrial and Mining Corp. and Medilines Distributors Inc.

This week

Share prices may continue to fall this week as Covid-19 cases continue to rise, which could lead to the reimposition of strict lockdown measures.

“Some level of pragmatism in trading is never a bad thing, especially in 2022 when market conditions are fickle and range bound by factors outside of corporate action. That said, in sectors that have proven themselves resilient from lockdown scares, dips are merely opportunities to make shortterm tailspins possible,” broker 2TradeAsia said.

Meanwhile, Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said higher infection rates could further escalate worries over the possibility of stricter restrictions being implemented in the country which would hurt the Philippine economy. This in turn may pull down the local bourse.

“Offshore, United States bond yields have risen following the US Federal Reserve’s hawkish signals in their latest minutes of the meeting. If this continues, then it may add downward pressure to the local bourse,” he said.

Chartwise, the local market is expected to continue testing its 7,000 to 7,100 support range, Tantiangco said.

“If it gives up the said range, its next support is seen at its 200-day exponential moving average 6,942.75 as of January 7. Meanwhile, the market’s immediate resistance is seen at its 10-day exponential moving average, 7,129.04 as of January 7,” he said.

Stock picks

Broker Regina Capital Development Corp. advised to take a position on the stock of Metropolitan Bank and Trust Co as its technical readings showed there’s potential for a quick and short rally to the P56 per share resistance.

“While this could be short-lived, a quick position closer to the P52 level could provide for relatively significant returns within the span of a few trading sessions, all things considered,” it said.

Metrobank shares closed Friday at P53.50 apiece.

Meanwhile, it gave the same recommendation on the stock of Ayala Corp. (AC) after its share price formed an inverted hammer on the charts last week, cementing its support at P830.

“The said level is also AC’s 100-day moving average, which only further validates the assumption that this support will hold in the near-term. Selling pressure, while still running rampant, seems to be losing steam,” it said, adding that a pullback could ensue if its share price hits P870.

Ayala shares closed last week at P828.50. VG Cabuag

a $20 deposit and up to $300 for the $20,000 deposit, or 5-day earnings of $1.50 up to $1,500 and 35-day earnings of $10.50 up to $30,500 on purely passive income.

The company claims it is based in Finland and was founded in January 2021.

Investors are instructed to deposit their money in an account under Unionbank or GCash of a certain John Paul Atos, a.k.a ”Mentor John,” and to register in its website.

The SEC said the company is not registered with them or with the Bangko Sentral ng Pilipinas as a virtual asset service provider.

“Accordingly, those who invite or recruit other people to join or invest in this venture or offer investment contracts or securities to the public may be held criminally liable under Section 28 of the SRC [Securities Regulation Code] penalized with a maximum fine of P5 million or imprisonment of 21 years or both,” the SEC said.

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

226.78

1.16%

-4.54%

-2.04%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6121

23.35%

2.94%

3.6%

-3.13%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1399

1.35%

-8.16%

-4.81%

-3.02%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7516 -4.63%

-6.48% n.a.

-0.65%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7571 2.12%

-4.01% n.a.

-1.79%

First Metro Save and Learn Equity Fund,Inc. -a

3.04%

-2.85%

-0.19%

First Metro Save and Learn Philippine Index Fund, Inc. -a

0.7591

1.35%

-4.2%

MBG Equity Investment Fund, Inc. -a

93.92

-6.22%

-7.53% n.a.

-0.54%

PAMI Equity Index Fund, Inc. -a

46.4966

0.55%

-3.12%

-0.52%

-3.39%

Philam Strategic Growth Fund, Inc. -a

487.15

0.98%

-2.95%

-1.02%

-2.7%

Philequity Alpha One Fund, Inc. -a,d

1.1292

3.57% n.a. n.a.

-2.88%

5.043

-2.71%

-2.7% -3.69% -3.09%

Philequity Dividend Yield Fund, Inc. -a

1.348

16.66%

1.28%

2.28%

-0.61%

Philequity Fund, Inc. -a

35.5038

3.52%

-2.19%

0.54%

-2.98%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9122

1.13%

-3.49% n.a.

Philequity PSE Index Fund Inc. -a

4.7931

1.35%

800.5

1.17%

Soldivo Strategic Growth Fund, Inc. -a

0.7295

2.5%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6589

2.18%

-3.1%

0.13%

-3.38%

-2.41%

0.04%

-3.38%

-6.39%

-2.99%

-3.07%

-4.55%

-1.38%

-3.09%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9123 0.72%

-2.75%

-0.18%

-3.41%

United Fund, Inc. -a

0.56%

-2.73%

Philippine Stock Index Fund Corp. -a

3.3433

1.85%

-2.8%

-2.4%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

107.7139

1.45%

-2.19%

0.57% -3.38%

Primarily invested in foreign currency securities $1.1157

-12.18%

7.4%

5.58%

-0.96%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8306

ATRAM AsiaPlus Equity Fund, Inc. -b

9%

18.28%

11.87%

-0.86%

-0.82%

Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a

1.6781

0.76%

-0.19%

-0.49%

ATRAM Philippine Balanced Fund, Inc. -a

2.2451

-0.8%

-0.2%

-0.27%

-1.6%

First Metro Save and Learn Balanced Fund Inc. -a 2.6492

1.46%

0.38%

1.23%

-1.55%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2095

6.13% n.a. n.a. 0.24%

NCM Mutual Fund of the Phils., Inc. -a

1.9832

1.21%

1.88%

1.71%

PAMI Horizon Fund, Inc. -a

3.7044

-1.42%

1.57%

0.49%

-1.61%

Philam Fund, Inc. -a

16.5644

-1.45%

1.03%

0.43%

-1.67%

Solidaritas Fund, Inc. -a

2.0872

0.41%

-0.44%

0.38%

-1.61%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.5737 0.71%

-1.49%

-0.23%

-2.01%

-1.66%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9694

-4.9% n.a. n.a.

-2.06%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.921

-1.91% n.a. n.a.

-2.49%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9084

-1.52% n.a. n.a.

-2.73%

Sun Life Prosperity Dynamic Fund, Inc. -a

6.48%

-2.08%

0.9344

-0.4%

0.11%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.03766

-4.03%

2.07%

1.42%

-0.74%

PAMI Asia Balanced Fund, Inc. -b

$1.0625

-10.28%

4.85%

3.71%

-0.43%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.77

5.44%

12.83%

8.75%

-0.67%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1906 0.4%

6.97%

4.48%

-0.67%

Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a ATRAM Corporate Bond Fund, Inc. -a

374.3

0.86%

2.89%

2.55%

0%

1.8848

-0.85%

0.44%

-0.02%

0.01%

Cocolife Fixed Income Fund, Inc. -a

3.2451

0.94%

2.94%

3.9%

0.03%

Ekklesia Mutual Fund Inc. -a

2.2506

-2.02%

1.82%

1.47%

-0.04% -0.01%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4257 -1.11%

3.12%

1.89%

Philam Bond Fund, Inc. -a

4.3901

-5.27%

5.01%

1.44%

-0.13%

Philam Managed Income Fund, Inc. -a

1.3186

-0.2%

3.86%

2.82%

-0.04%

Philequity Peso Bond Fund, Inc. -a

3.9686

-0.73%

3.97%

2.61%

0.07%

Soldivo Bond Fund, Inc. -a

1.0285

-1.29%

4.74%

1.98%

0.03%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1823

-0.74%

4.69%

3.25%

-0.16%

Sun Life Prosperity GS Fund, Inc. -a

-1.46%

3.82%

2.57%

-0.16%

1.7279

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$489.27

1.06%

2.93%

2.48%

-0.06%

ALFM Euro Bond Fund, Inc. -a

Є219.82

0.16%

1.11%

0.97%

-0.09%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2022

-6.47%

2.13%

1.77%

-0.14%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 -2.63%

1.32%

0.87%

-0.38%

PAMI Global Bond Fund, Inc -b

$1.0201

-6.85%

-0.72%

-0.61%

-0.26%

Philam Dollar Bond Fund, Inc. -a

$2.4752

-2.42%

4.24%

2.48%

-1.22%

Philequity Dollar Income Fund Inc. -a $0.0622686 - 0.12%

2.99%

1.99%

-0.04%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1458

-2.5%

3.05%

1.33%

-1.58%

Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a

2.56%

0.02%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0581 0.94% n.a. n.a.

131.22

0.04%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1

0.03%

1.316

1.05% 1.46%

2.76% 2.57%

2.53%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0607

0.77%

1.44% n.a.

0.01%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.4029

24.19% n.a. n.a. 1.45%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d

$0.97

-2.02% n.a. n.a.

0%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

Banks vow operations steady as cases rise

By Bianca Cuaresma @BcuaresmaBM

L

OCAL banks ensured continued services amid tighter restrictions and the threat of even more measures due to the continuously rising Covid-19 cases in the country.

Several banks and bank associations have issued statements over the weekend, assuring their clients of continued operations, albeit some with modified schedules for the coming days.

BDO Unibank Inc., the country’s largest bank, said all their branches in the National Capital Region (NCR) will continue to operate on normal days, but will close early at 3:00 pm starting on Monday, January 10.

“Our clients’ safety is very important to us. Our safety protocols in the branches remain intact and our employees are vaccinated. They also go through the regular Antigen testing to ensure a safe workplace scenario,” BDO said in a statement.

The Philippine National Bank (PNB) also issued a similar statement, saying all their branches nationwide (except for mall-based and NAIA branches) will open from 9:00AM to 3:00 pm starting Monday.

“We encourage our clients to plan their banking transactions accordingly. Our PNB Internet Banking and PNB Mobile Banking App are available for your day-to-day banking transactions. Clients may download the PNB Mobile Banking App on Google Play or App Store,” PNB’s statement read.

On its website, meanwhile, Bank of the Philippine Islands (BPI) posted a list of their closed branches starting Monday. Most of their closed branches are in Metro Manila, Central Luzon and South Luzon. Their remaining open branches, meanwhile, will be operating from 9:00 a.m. to 4:30 p.m.

Metrobank also announced on their website a list of closed branches in the meantime to help in their fight against Covid-19. The bank said all open branches will also operate on shortened hours from 9:00 am to 3:00 pm.

Both the Bankers Association of the Philippines (BAP) and the Chamber of Thrift Banks (CTB) issued statements over the weekend, ensuring their clients of continued services amid the surge of cases.

The BAP said banks will continue to open and enhance their current health protocols to protect both clients and employees from the virus.

“Our member banks continuously provide innovative platforms to keep services running for clients.

Operational adjustments shall also be implemented to maintain reliable and accessible services to the Filipino public,” the BAP said.

“We encourage clients to check their respective bank’s website, social media channels and announcements for further updates and information on operating hours and banking services. Online and mobile facilities are fully operational and available for clients’ convenience and protection,” it added.

Meanwhile, the CTB said most, if not all of their member-banks’ branches/units and branch lite units are open.

“While there are some bank branches that are closed in certain areas due to affected employees of the banks, the banks rotate their people to keep other branches open. Customers can transact in any open branches nearby, plus, digital platforms—mobile banking, online onboarding and ATMs are available,” CTB said.

“The banks also established split teams in all their branches since the start of the pandemic to allow them to continue to operate when one team is exposed and must be quarantined,” it added.

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Monday, January 10, 2022

B3

Local crowdfunder gets SEC approval

T

By VG Cabuag

@villygc

HE crowdfunding business of the Gotianuns and a Singaporean firm was given a greenlight by the Securities and Exchange Commission (SEC), the regulator announced recently.

The Commissioners, meeting en banc last week, approved the application of Investree Philippines Inc. for a permanent license to operate as a funding portal and act as a crowd-

funding intermediary, following a review of the company’s operations since the issuance of its provisional license last January 7, 2021.

Investree Philippines is a joint

venture between Filinvest Development Corp. and Investree Singapore Pte. Ltd. It is the first crowdfunding intermediary and funding portal registered with the SEC after the “Rules and Regulations Covering Crowdfunding” took effect in July 2019.

The company operates a lendingbased crowdfunding platform whose activities involve banks or qualified buyers as lenders, and small, medium and emerging enterprises as borrowers.

As of December 20, Investree Philippines’s crowdfunding portal had a total of 43 issuers and one investor with 110 notes issued, for a total amount of P172.15 million. The company had three investors during

the period: Investree Singapore, Andremere Holding Corp. and Netbank (A Rural Bank) Inc. The grant of the permanent license is part of the SEC’s efforts to promote crowdfunding as a suitable investment among Filipino investors and to provide more fundraising options for SMEs, the regulator said.

Crowdfunding is a fundraising activity typically conducted through an online platform for startups and small and medium enterprises. It involves three parties: the entrepreneur or project initiator; the supporters or those willing to fund the business idea or project; and, the platform or moderating organization that brings the entrepreneur

and supporters together to realize the business idea or project.

Lending-based and equity-based crowdfunding activities involve the offer of securities in the form of debentures or shares, which means that they are subject to securities regulation in many jurisdictions.

According to the Securities Regulation Code, securities shall not be sold or offered for sale or distribution, without a registration statement filed and approved by the SEC. Crowdfunding securities may be exempted from registration, provided that the issuer, intermediary and investors comply with the CF Rules.

(Local crowdfunder): FDC shares closed Friday at P7.50, down P0.20 from the previous close.

Solon: RA 11635 brings much-needed reprieve to private schools

T

HE enactment of Republic Act (RA) 11635 was welcomed by its sponsor as private schools address “the uncertainties of the times, as rising Covid-19 cases forced us to restrict face-to-face classes to start the New Year.”

In a statement, Senator Pia S. Cayetano said “this timely measure, which I sponsored, amends Section 27(B) of the National Internal Revenue Code, to clearly indicate that all

proprietary educational institutions, whether for profit or nonprofit, shall enjoy the 10 percent preferential tax rate.”

According to the senator, the law shall also allow schools to be covered by a provision under the Corporate Recovery and Tax Incentives for Enterprises (Create) Act, which reduced the tax rate of such institutions from 10 percent to 1 percent starting July 1, 2020

to June 30, 2023.

Cayetano added that with the measure, private schools would be given much-needed reprieve to cope with the continuing challenges caused by the pandemic, starting with their own financial viability and sustainability.

“It must be emphasized that this law resulted from continuous dialogue and cooperation among the various stakeholders,” the solon

US inflation rate is probably going to spike again with CPI seen rising

U

S inflation probably hit the fastest in four decades, helping explain a shift in the Federal Reserve’s approach to monetary policy as well as more consumer anxiety about the economy.

The widely followed consumer price index on Wednesday is forecast to rise 7.0 percent for the year through December and climb 0.4 percent from a month earlier. The following day, another Labor Department report is projected to show prices paid to producers surged nearly 10 percent in 2021. Reports on December retail sales and industrial production arrive Friday.

The inflation surge underscores why US officials are preparing for a quicker normalization of monetary policy than previously anticipated. Adding to the case is evidence of a tight labor market, including a jump in wages and falling unemployment in data on Friday.

Fed watchers may get more clarity in the coming week on whether the interest-rate liftoff may come as soon as March, and when the central bank will begin shrinking its $8.8 trillion balance sheet.

Chair Jerome Powell testifies on Tuesday before the Senate Banking Committee on his nomination to a second 4-year term. Two days later, Fed Governor Lael Brainard appears before the same panel at a confirmation hearing on her elevation to vice chair. Other Fed officials set to speak include Loretta Mester, Esther George, Charles Evans and James Bullard.

“With the unemployment rate dropping below the median FOMC participant’s estimate of the long-run neutral rate and wages growing briskly, this jobs report likely will alleviate any lingering doubts on the part of more-dovish FOMC members,” according to a report by Bloomberg Economists Anna Wong and Andrew Husby.

Elsewhere, inflation data may show weakening Chinese price pressures, Germany will give an indication of its growth in the last quarter of 2021, and both South Korea and Romania are likely to keep tightening monetary policy.

Asia

Sri Lanka hosts a visit by Chinese Foreign Minister Wang Yi this weekend as the country mulls whether it might need to ask the International Monetary Fund or Beijing for help as its currency reserves run low.

South Korean jobs figures come ahead of a Bank of Korea interest rate decision on Friday, with some economists now predicting a back-to-back hike by Governor Lee Ju-Yeol. South Korea is expected to hike rates this week.

China releases price data midweek that could offer more evidence that inflationary pressure has peaked there for now.

By contrast, Indian inflation is expected to pick up again.

China’s trade figures at the end of the week are set to show a new annual export record as Beijing sticks to a Covid-zero strategy that keeps its factories open, taking advantage of recovering global demand.

The Bank of Japan gives its assessment of the health of the country’s local economies ahead of a policy meeting the following week.

Europe, Middle East, Africa

Joachim Nagel’s first full week as Germany’s Bundesbank president will be marked by a virtual handover event on Tuesday featuring his predecessor, Jens Weidmann, Finance Minister Christian Lindner and European Central Bank President Christine Lagarde.

Meanwhile, on Friday, an official German estimate of 2021 full-year growth will offer the first indication in the Group of Seven of expansion for the fourth quarter, following news that industrial production there unexpectedly shrank in November. How that drop impacted overall euro zone factory output will be seen in data on Wednesday.

The economy probably expanded 2.7 percent last year Friday will also be a highlight in the UK, where monthly gross domestic product and industrial data for November will be released, probably showing a fourth consecutive increase.

Eastern Europe will be a hot

spot for monetary policy action.

Romania’s central bank is likely to raise interest rates on Monday, while decisions are also due on Thursday in Serbia and Hungary.

Figures from Ghana due on Wednesday are expected to show inflation accelerated to 12.5 percent in December, exceeding the top of the central bank’s 6 percent to 10 percent target range for a fourth month. Even so, officials may hold off on raising rates as they wait to see whether November’s 100-basis point increase arrests inflation.

Turkey’s current-account balance data on Tuesday is likely to show a swing to deficit in November in the absence of a significant boost from tourism. Turkey posted a surplus for three months before November thanks to a jump in trade and balance of services.

Latin America

Mexican industrial production figures for November, out Tuesday, may add to evidence that Latin America’s No. 2 economy is falling into a recession.

The December reading on Brazil’s consumer prices is widely expected to show inflation has peaked, and ended 2021 slightly below the central bank’s 10.2 percent central forecast.

Getting it back to target won’t happen until the third quarter of 2023 at the earliest, the bank now projects.

Mexico’s labor market has been on an upswing, although it remains below pre-pandemic levels. Ongoing weakness in services employment will likely weigh on December formal jobs data reported Wednesday. In Brazil, the services sector has also been struggling and November data due on Thursday will likely show activity slowed for a sixth month.

Look for Argentina’s consumer price report for December on Thursday to show a marginal easing from November’s 51.2 percent pace. The trajectory for 2022 inflation will owe much to the timing of a new loan accord with the IMF that sets targets on government spending and debt. Bloomberg News

said. “We worked with the Bureau of Internal Revenue [BIR] and the private schools, led by the Coordinating Council of Private Educational Associations of the Philippines [Cocopea], to root out the issues and find a common solution.”

Cayetano, who also chairs the Senate Ways and Means Committee, added there is still a “need to continue working with our partners in education for long-term

solutions in terms of policy and budget, using strategic foresight and futures thinking to help this sector recover from the pandemic and beyond.”

This is part of our country’s commitment under Sustainable Development Goal 4, which is to ensure inclusive and equitable quality education for all by year 2030, the principal sponsor of RA 11635 further said.

Perspectives Human firewalling: Overcoming the human risk factor in cyber security

T

O be effective in today’s fast-evolving world of continually emerging cyber threats, businesses should evolve their cyber security awareness efforts beyond the annual company-wide talk by the Chief Information Security Officer (CISO) on the need for more vigilance around data protection to the pursuit of a more integrated, holistic approach that embeds cyber security practices into the employee’s workday.

Here are some strategies to inculcate cyber security practices.

Leveraging science and adult learning methodology.

Developed by Stanford University psychology professor Albert Bandura, a major tenet of Social Cognitive Theory (SCT) focuses on observational learning, also referred to as modeling. That is, the way people learn desirable (or undesirable) behaviors is by observing other people and mimicking those learned behaviors to maximize rewards. This learning method is particularly effective if people admire, trust or respect the person who is to be imitated. Simply put, people like to be like their heroes.

Reinforcing behavior by applying change management methodology.

The “awareness, desire, knowledge, ability, reinforcement,” or “Adkar,” model enables a program that continually reinforces why cyber security is important, why employees must remain vigilant both at work and at home, and the critical role they play in consistently supporting the cyber security team. For example: n To drive awareness, employee login screens can display a reminder message such as: ‘Report phishing.’ n To drive desire, a series of ‘What if?’ scenarios can outline potential ramifications and threats when not practicing secure behaviors. n To drive knowledge, interactive phishing simulations can be run periodically, including in-the-moment educational information for those who fall victim. n To drive ability, a button can be installed on e-mail toolbars to report suspicious messages to the cyber security team. n To reinforce that behavior, employees who report suspicious e-mails can receive a response thanking them for being vigilant and taking action. If the report does uncover malicious activity, the employee can receive additional acknowledgment of their help, reinforcing good behavior: “Thank you! Your efforts and vigilance have helped us prevent cybercrime through discovery of a malicious e-mail.”

These strategies not only make employees feel like they are part of the team, it also encourage feelings of accountability and ownership. It is also critical to create an environment that is supportive rather than punitive, ensuring that if an employee accidently clicks a dangerous link, they aren’t afraid to report it immediately.

Modern delivery methods to make training engaging.

Effective behavior management and communications programs require periodic training to keep all staff, including leadership, informed about industry best practices and policy changes. People learn in different ways. There are three main cognitive learning styles: visual (seeing and reading); auditory (hearing and speaking); and, kinesthetic (doing). Training should cater to each learning style—eliminating barriers to entry and delivering information in the format preferred by the learner. In today’s fast-paced digital world, brief, easily digestible segments appear to be the most successful.

Make it personal.

Employees must feel personally invested if behavioral change is to be successful and sustainable. For example, explaining to staff how a particular online behavior can protect their children from online predators, in addition to protecting company data or themselves, can have a profound impact. Program elements should connect the dots to emphasize how workplace cyber security skills can be applied at home.

As phishing and similar attacks become more sophisticated, cyber security risks are soaring. By investing in the human element of cyber security, organizations can foster workforces that are not only savvier about cyber security but also a crucial extension of the cyber security team through their commitment to keeping the organization safe. A holistic approach to protecting an organization requires an investment in people—the human firewall—to ensure that employees both understand the tenets of cyber security and embrace their role in supporting security efforts by making secure behaviors an integral part of their daily life.

The excerpt was taken from the KPMG Thought Leadership publication Human firewalling. © 2022 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Limited, a private English company limited by guarantee.

All rights reserved.

For more information on KPMG in the Philippines, you may send a message via social media or visit www.home. kpmg/ph.

Explainer BusinessMirror

B4 Monday, January 10, 2022

www.businessmirror.com.ph

Inflation, work force participation and real wages: 3 key indicators for monitoring the economy in 2022

Containers line a Port of Oakland shipping terminal on Wednesday, November 10, 2021, in Oakland, California.

The US economy grew at a 2.3-percent rate in the third quarter, but prospects for a solid rebound going forward are being clouded by rising worries about the rapid spread of the new Omicron virus. AP/Noah Berger

By Veronika Dolar, SUNY Old Westbury; Marlon Williams, University of Dayton; & Melanie G. Long, The College of Wooster

T

The Conversation

HE US economy ended 2021 with a lot of uncertainty.

Inflation surged to levels not seen since the 1980s—seriously eroding consumer purchasing power—while the highly contagious Omicron variant forced many Americans to hunker down as case counts soared to record levels, reducing economic activity.

How will the economy fare in 2022? And given its size and complexity, how will we even know whether things are improving? To offer some clues, The Conversation US recruited three economists to highlight one measurement tool they’ll be following closely in the new year and explain why it will help them—and you—better understand how the economy is doing.

Will inflation keep rising?

Veronika Dolar, Professor of Economics, SUNY Old Westbury Americans, especially those on low incomes, have felt the pinch of higher prices in recent months.

The price people pay for everything from fish to gasoline has soared, with the pace of change the highest it’s been in decades.

Inflation is a sustained, generalized increase in the prices of many goods and services in an economy. Inflation erodes consumers’ purchasing power and the value of their cash, in effect reducing their real incomes.

A modern economy has millions of goods and services whose prices are continually quivering in the breezes of supply and demand. How can all of these shifts be boiled down to a single inflation rate?

As with many problems in econom ic mea su rement , t he conceptual answer is reasonably straightforward: Prices of a variety of goods and services are combined into a single price level or index, and the inflation rate is simply a measure of its change over some period.

Economists have many ways to measure inflation, from the ubiquitous consumer price index to the little-known gross domestic product deflator. Even the satirical publication The Onion has a guide. Each has its strengths and weaknesses.

I prefer the tool that journalists commonly use and you’ve almost certainly seen in recent weeks trumpeting the highest inflation rate in about 40 years: headline CPI, which rose 6.8% in

November 2021 compared with a year earlier. This is the broadest version of the consumer price index.

Ma ny econom ists a nd t he Federal Reserve prefer what is known as core CPI, which excludes volatile food and energy prices.

Because prices for food and fuel fluctuate frequently even as demand for them remains stable, policy-makers argue excluding them makes it easier to figure out what’s really going on in the economy.

But this ignores two categories that absorb a significant share of most household budgets—especially among the less affluent. After all, people need food—up 6.1 percent over the past year—and energy—up 33.3 percent in 2021—to survive. As such, it seems problematic to exclude them.

Economists like me will be watching the main consumer price index closely in 2022 to see if it stays elevated, continues to climb or finally begins to fall— which is what mosteconomistsforecast.

Not only will it tell us a lot about the state of the US economy and how quickly the Fed may have to raise interest rates, but it will likely also be a major factor in who gains most in the midterm elections. Research has found that high inflation rates—and especially gas prices—are strongly correlated with disapproval in the president’s job performance.

Will Americans return to the work force?

Marlon Williams, Assistant Professor of Economics, University of Dayton The labor force participation rate is not one of the “big three” macroeconomic indicators—gross domestic product, inflation and the unemployment rate—that

economists, financial markets and journalists slavishly follow. As a matter of fact, it might not even make the top 10. But it is one of the variables that I will be following especially closely in 2022.

The labor force participation rate is the percentage of the civilian population aged 16 and up who are either employed or are actively seeking a job. This measure gives us a sense of the share of workingage population who are making themselves available to work.

From the 1970s through the turn of the century, there was an almost uninterrupted increase in the labor force participation as more women joined the work force. During that period, it rose from a low of roughly 60 percent to an all-time high of 67.3 percent in the first quarter of 2000.

From the early 2000s until the pandemic hit, the participation rate steadily declined and was about 63 percent at the end of 2019. It fell sharply in April 2020 as the US began a period of lockdowns to try to contain the rapid spread of Covid-19, reaching a nearly 50-year low of 60.2 percent that month.

Although the rate has recovered somewhat, it continues to flounder below 62 percent because of a combination of factors brought on or exacerbated by the pandemic, such as fear about returning to a physical workplace and pandemicrelated benefits that made it more financially feasible to go without a job.

While economists don’t identify a specific participation rate as ideal, it’s generally believed that a sudden, sizable reduction in the rate presents significant challenges to the smooth functioning of an economy. That’s because it represents a rapid withdrawal of productive resources—workers— that can’t be easily or quickly offset. This is one cause of the recent

surge in inflation, not to mention the supply chain problems the global economy is currently experiencing.

If the rate doesn’t rise to prepandemic levels in the coming year or two, that would dash hopes for a stronger economic recovery and would signal high inflation and supply chain shortages will be with us for some time to come.

Will real wages climb?

Melanie Long, Assistant Professor of Economics, The College of Wooster As an economist who studies consumer finances, I spend a lot of time thinking about how much Americans spend. That is why I will be watching one number particularly closely in 2022: median usual weekly earnings.

In short, this data point tells us how much the typical worker—rather than the average one, which can be misleading—receives in pretax pay each week, adjusted for inflation. Anyone who manages a budget knows that how much you make is only half the story. Prices matter just as much. “Real” weekly earnings are adjusted based on the cost of consumer goods. Higher prices mean that families can afford to buy less with the same pay, so their real earnings would fall.

Unfortunately, this number is a bit delayed, coming several months after the release of the nominal data—which doesn’t factor in inflation. But accounting for prices is more important now than ever. The prices of everything from used cars to chicken are rising at the fastest rate in a decade. These increases will cut into families’ buying power and threaten to stall an already slow economic rebound.

Before t he pandemic, rea l weekly earnings were on the rise as historically low unemployment

rates forced companies to pay more to attract workers. In the second quarter of 2020, real earnings suddenly spiked—primarily because millions of low-wage workers lost their jobs because of lockdowns, and so their incomes weren’t being calculated in the figure. Earnings subsequently fell back to pre-pandemic levels as low-wage workers returned to work.

Now there are signs that wages could again be on the rise for some workers. For example, service workers have been quitting their jobs in droves, in part in search of better pay with other employers.

Given the ongoing labor shortage, some companies seem to have had little choice but to raise wages.

One concern economists have about these wage hikes is that employers might react by raising prices further to help pay for them. This in turn could prompt workers to demand higher wages.

Economists call this a “wage-price spiral,” which if allowed to spin out of control could lead to stagflation—slow growth, high inflation—or worse.

The direction that real earnings take in 2022 will have a major impact on families’ spending and the pace of economic growth. Consumer spending makes up nearly 70 percent of US economic activity each year.

I will be watching this number carefully this year to see how the competing forces of increasing prices and rising wages ultimately shape the fragile pandemic economic recovery.

This article is republished from The Conversation under a Creative Commons license. Read the original article here: https://theconversation.com/inf lation-workforceparticipation-and-real-wages-3key-indicators-for-monitoringthe-economy-in-2022-172204.

Style

BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Monday, January 10, 2022

B5

Women of Asian descent in American ‘Vogue’ This skin-care device is a cleansing game-changer SCRUBBING my face with a hand towel was something I regularly did in my 20s and 30s, until age and dry skin started to creep up on me so I stopped.

There was also the fear of bacteria and germs from using a damp towel.

I never again used anything on my face except water and cleanser until recently. I never jumped on the skin-care device train even if all my friends did so. The Foreo Luna 3 Plus, however, is another story.

The Foreo Luna 3 Plus is a large egg-shaped device with hundreds of silicone brushes that pulsate in different settings. It is a cleansing and massage device that costs five figures. Despite the cost, however, it is difficult to find a bad review of the Luna 3 Plus. In fact, good reviews online are what got me interested to try it.

I got the pink one for normal skin. It connects to the app for the massage features but you don’t need the app if it’s just for cleansing.

After a week of using the Foreo Luna 3 Plus twice a day, I was amazed at how well it cleaned my skin without drying or irritating it. I have broken skin capillaries and I recently struggled with a skin barrier issue so I was skeptical at first.

The egg-shaped device offers skin purification, firming and tightening in just two steps. One side with the silicone bristles is for thermo-facial cleansing while the other side is for firming massage and treatments. It is advised, by the way, that you use the Luna 3 Plus with the Foreo Micro-Foam Clean. If you have makeup on, you should remove it before using the Foreo 3 Plus. The gadget’s T-pulsations will help remove stubborn makeup residue and dirt but not remove all of it. It’s for deep and effective cleansing, not makeup removal.

The other side is for facial massage with two metal pins targeting specific areas that show signs of aging. Foreo’s microcurrent technology restores skin’s natural radiance and helps maintain facial fitness. It’s also advised that you use Foreo’s conductive serum (called Serum Serum Serum) for the massage and treatments.

When used with the app, the device lets you personalize your routine according to your skin’s individual needs. Simply select the intensities on the app (I chose 8) and it will automatically sync. I have been logged out of the app twice BUT I would still use it because it’s very soothing to do your skin care (even to clean your face) using it.

What I loved about the Foreo Luna 3 Plus:

It cleaned my face really well but gently without over-stripping.

The app is very useful and tells you how to properly use the device.

I have not had a facial or any aesthetic procedure since the pandemic so my skin was kind of dull. Using the Foreo Luna 3 Plus helped solve that problem. My skin became brighter and more glowing in three weeks’ time.

The Luna 3 Plus’ silicone bristles never get dirty or grimy. The device is waterproof and very easy to clean. I simply rinse off the part where I’ve put product and wipe off the other areas.

The brushes are non-abrasive.

Charging is not a problem. One full charge is equal to hundreds of uses.

Using the Luna 3 Plus is really like a treat for the skin. One of the things I really love about it is that it cleans areas that I previously neglected such as the inner corners of my eyes and the sides of my nose.

For the disadvantages, there are just a couple:

At P19,000, the device is expensive. But if you can afford it, make a splurge. It’s a good investment for your skin.

There’s a slight tingling when using the device’s target microcurrent function. If you’re sensitive to this, I suggest you read other reviews if you want to purchase a Luna 3 Plus.

The Foreo Luna 3 Plus is available on sephora. ph and Lazada for P19,000. You get the 30ml serum for free. Separately, the serum costs almost P3,000.

The facial cleanser costs around P3,600. It’s quite a financial commitment but I think of it as spending all the money I have saved from not having facials and other cosmetic treatments in making this skincare investment. Do I regret getting the Luna 3 Plus?

I don’t. Skin care is one of my few luxuries in life and I think the purchase was well worth it.

PHOTO BY JULIANA MAXINE VASQUEZ

W

HEN the US Vogue cover of South Korean model-actress Hoyeon Jung came out, fashion observers rejoiced. The star of the blockbuster Squid Game was photographed by Harley Weir, wearing a Louis Vuitton cape and dress with embroidered sequins, and Alexander McQueen earrings.

“I have always wanted to go to Hollywood and to act in America, and I still do,” Hoyeon, riding on the wave of Korean success spurred by BTS and Oscar-winner Parasite, tells Vogue. “But Squid Game changed my mindset. It doesn’t have to be an American movie or a European movie, it’s the story and the message that are more important.”

After this triumph of Asian representation came a moment of reflection: When have Asians scored the most coveted cover in all of fashion?

Asians or women of Asian descent haven’t figured prominently on American Vogue covers. If they did, it was as part of tableaus. Yasmeen Ghauri, born in Canada to a German mother and Pakistani father, was in the same league as the supermodels in the 1990s.

She appeared with them in Vogue’s 100th issue, April 1992, shot by Patrick Demarchelier.

Chanel Iman, batchmate of Charo Ronquillo at Ford’s Supermodel of the World 2006, born to a half-Black/half-Korean mom, appeared with the mid-2000s Supers in the May 2007 cover, shot by Steven Meisel. In September 2014, FeiFei Sun, the first Asian model to have a solo cover for Vogue Italia January 2013, appeared with a diverse cast in US Vogue’s September 2014, shot by Mario Testino.

Liu Wen, dubbed by The New York Times “China’s first bona fide supermodel,” also appeared with an inclusive roster in March 2017, shot by Inez & Vinoodh. Also in that cover is Gigi Hadid, born to a Palestinian Jordanian father and Dutch mother. She eventually had a solo in March 2021, shot by Ethan James Green. Dutch-Japanese Yumi Nu and Chinese-American Sherry Shi were all part of an ensemble of newbies for September 2021, also shot by Green.

South Korean actress Doona Bae (Sense8, Kingdom, The Silent Sea), Bollywood superstar Deepika Padukone and Hong Kong-based model-actress Angelababy were part of a group cover in April 2019 with Scarlett Johansson, Léa Seydoux, Adesua Etomi and Elizabeth Debicki, shot by Mikael Jansson.

Israeli-born actress Natalie Portman’s first of several covers was in May 2002, shot by Steven Klein. Kim Kardashian, born to an Armenian father, first appeared with Kanye West in April 2014 shot by Annie Leibovitz, then solo in May 2019 snapped by Mikael Jansson.

First Ladies have graced the covers, too. Hillary Clinton in December 1998 and Michelle Obama in March 2009, both shot by Annie Leibovitz. In February 2021, Vice President Kamala Harris, shot

by Tyler Mitchell, was the cover girl. Her mother is

Tamil Indian while her father is Afro-Jamaican.

International law and human rights British barrister Amal Alamuddin Clooney, born in Lebanon, fronted May 2018, shot by Leibovitz. Among her high-powered clients is Nobel Peace Prize laureate Maria Ressa. Tennis superstar Naomi Osaka had one of four covers in January 2021, also by Leibovitz.

Beauty queens-turned-actresses are natural cover girls. Miss World 2000 Priyanka Chopra, from India, in January 2019, and Miss Universe Israel 2004 Gal Gadot in May 2020, both shot by Leibovitz. With Priyanka’s 72.6 million Instagram followers and Gal’s 71.4 million, they could easily sell as many issues as movie tickets.

American Vogue was founded in 1892. But as far as I know, it was only in 1988 when an Asian finally won the coveted cover, courtesy of the beautiful Israeli model Michaela Bercu. Shot by Peter Lindbergh. It was also the first cover of

new editrix, Anna Wintour, who recalls, “Michaela was wearing an haute couture Christian Lacroix jacket with a beaded cross, all very ‘Like a Prayer,’ and stonewashed Guess jeans. The jacket was actually part of a suit, but the skirt didn’t fit Michaela; she had been on vacation back home in Israel and had gained a little weight. Not that that mattered. In fact, it only served to reinforce the idea to take couture’s haughty grandeur and playfully throw it headlong into real life and see what happened.”

I’m still hoping that a Filipina model like Kelsey Merritt would land the cover of US Vogue soon. But as celebrities have supplanted the supermodels, the most likely to land a spot will be someone with just a hint of Pinay blood in their veins—nerve?—such as Grammy winner H.E.R., rapper Saweetie (who has a glorious collaboration with Cher for MAC Cosmetics), Time’s Entertainer of the Year Olivia Rodrigo, and Oscar nominee Hailee Steinfeld.

HOYEON JONG, February 2022; Gigi Hadid, March 2021; Kamala Harris, February 2021; Naomi Osaka, January 2021; Gal Gadot, May 2020; Kim Kardashian West, May 2019; Priyanka Chopra, January 2019; Amal Clooney, May 2018; Doona Bae and Deepika Padukone (with Scarlett Johansson), April 2019; Natalie Portman, May 2002; Yasmeen Ghauri, September 1992; Chanel Iman, May 2007; FeiFei Sun, September 2014; Liu Wen, March 2017; Angelababy, April 2019; Sherry Shi and Yumi Nu (with Ariel Nicholson), September 2021; Michaela Bercu, November 1988.

Watsons develops successful partnerships with K-beauty brands in Asia

JUST as K-drama and K-pop have surged in the entertainment scene, K-beauty is making inroads in the skin care and cosmetics industry. But is it here to stay?

According to the data released by the Korea Customs Service and Korea Cosmetic Association, South Korean cosmetics exports climbed 16.1 percent to reach nearly $7.6 billion in 2020 despite the pandemic.

Watsons, the leading offline and online (O+O) health and beauty retailer in Asia, was quick to recognize that K-beauty “is highly sought-after by our Watsons customers even during the pandemic,” says Susanna Yen, exclusive brands director of Watsons International.

With this, “Watsons has partnered with a number of K-beauty brands to deliver more choices to beauty lovers across Asia while helping to incubate up and coming brands to expand their penetration.

Mise En Scène and COSRX are two outstanding examples that show how Watsons has helped K-beauty brands enter new markets and build up a strong market position.

Mise En Scène is a total hair cosmetic brand that offers a diverse range of hair styling products.

The brand’s Perfect Serum has been Korea’s No. 1 for nine consecutive years with its unique intensive care formula featuring seven nature-derived ingredients.

This cult-favorite, along with Mise En Scène’s other popular styling products, is exclusively available in Watsons online and select physical stores, promising shoppers smooth, silky, easy to style, and healthy hair.

COSRX, on the other hand, is another K-beauty brand that has benefited hugely from its exclusive partnership with Watsons. This skin-care brand was launched through Watsons in Singapore, Malaysia, Thailand, and the

Philippines exclusively in 2017, resulting in a compound annual growth rate of over 80 percent.

Watsons also reinforces the demands for their K-beauty products by highlighting K-beauty as part of their Asian Beauty Campaign.

“The demand of K-Beauty products keeps growing but due to the pandemic, customers are not able to travel to Korea to shop for the hottest K-beauty products, so we have highlighted Watsons K-beauty brands as part of the Asian Beauty Campaign. With over 5,000 products to choose from in-store and online, Watsons is expected to become the go-to place for all K-Beauty lovers.” Yuen said.

Watsons’ strong O+O capabilities enable customers to enjoy the benefits of convenient shopping either at home or in-store, which effectively helps K-beauty products and many other health and beauty brands to engage and connect with its target customers.

B6 Monday, January 10, 2022

Mondelez PH makes it to the ‘Best Places to Work in 2021’

Security Bank, CHSM HS Batch ‘73 distribute portable media libraries

T

O assist schools with their challenges in distance learning, Security Bank’s Corporate Social Responsibility (CSR) arm Security Bank Foundation, Inc. (SBFI), the College of the Holy Spirit Manila (CHSM) High School (HS) Batch of 1973, and the Knowledge Channel Foundation, Inc. (KCFI) joined forces to distribute portable media libraries with educational resources to five public schools.

Dubbed as “Gift of Knowledge” kits, the portable media libraries are plug-and-play external hard drives loaded with over 1,500 KCFI-produced video lessons, e-games, and e-session guides for kindergarten, elementary, junior high school, and alternative learning system students. The modules are aligned with the Department of Education’s K-12 curriculum.

Funded by the CHSM HS Batch of 1973 under their batch legacy project dubbed as “Agapay sa Kalusugan at Pag-aaral (AKAP)”, one portable media library was given each to Camarines Sur National High School in Naga City, Laguna Resettlement School in San Pedro City, San Jose City National High School in Nueva Ecija, San Pablo Central School in Laguna, and Tuguegarao West Central School in Cagayan. The donation is expected to benefit over 25,000 students.

“Our batch is celebrating its golden jubilee in 2023. To pay it forward in gratitude to God, our country, and the school, we decided to pursue this legacy project which secures education for the underprivileged,” explained Maria Theresa Abeleda-Llave, President of CHSM HS Alumni Batch of 1973.

The beneficiary schools are also part of SBFI’s Build a School, Build a Nation: The Classrooms Project. To ensure continued support, SBFI will conduct regular trainings on teaching strategies

PRESENT during the ceremonial turnover of portable media libraries were representatives of the donor College of the Holy Spirit Manila High School Batch of 1973 (from left to right): Cecilia Carrancho-Chang, Grace SongcuyaMascenon, Cecilia Ocampo-Fernandez (Treasurer), Maria Theresa Abeleda-Llave (President), and Melissa Aquino (SBFI Trustee and Corporate Secretary). and other learner support interventions.

“In 2020, the Foundation partnered with the Knowledge Channel and the Ateneo de Manila University to produce 20 videos on English reading competencies and complement these with teachers training. The program, called Ready, Set, Read! aims to address the identified weakness of Filipino students in reading based on recent international assessments. However, access to the videos was limited due to internet connectivity issues. The portable media libraries hope to answer that problem as students or their parents can now access educational resources offline and enjoy interactive learning at home,” said Melissa Aquino, SBFI Trustee and Corporate Secretary.

“Our teachers have really been

challenged to produce educational materials that will excite students and effectively improve their learning competencies. With the portable media library, we are now confident that we will be able to provide quality distance learning delivery to our students,” expressed Aldrin Baloc, San Jose City National High School Principal.

To expand the reach of the project, Security Bank provided additional funding for the distribution of portable media libraries to 59 more SBFI classrooms project beneficiary schools.

To know more about Security Bank Foundation and its CSR and sustainability initiatives, you may visit www.securitybank.com/sustainability or Security Bank’s Facebook page at www. facebook.com/SecurityBank.

GAC Motor PH turns over 2022 GS8 4x2 Sports to Lazada’s 11.11 raffle winner

G

AC Motor Philippines formally awarded a brand new GS8 4x2 Sports to Lazada 11.11 Biggest One-Day Sale grand raffle winner, Mr. Sherwin Santos of Calamba, Laguna, on December 29, 2021.

Last November 10, 2021, GAC Motor Philippines launched its LazMall flagship store through Lazada’s signature 11.11 Super Show, which was hosted by regional Lazada Happiness Ambassadors; and with performances from the K-Pop group Seventeen; local celebrities Bea Alonzo, Alden Richards, Maine Mendoza, Mimiyuuuh, and SB19.

The automotive brand also used the program to announce that it was raffling off one All-New GS8 2.0 6AT 4x2 Sports

to customers who will avail service and reservation vouchers through GAC Motor PH’s LazMall flagship store.

“Thank you, GAC Motor Philippines and Lazada Philippines at nanalo kami ng all-new GAC GS8 4x2 Sports. Out of the so many entries, kami po ang nabunot sa raffle, at dalawang car service vouchers ang na-avail namin sa Lazada. Siguro, blessing sa amin ni God ito. Kasi, wala talaga kaming sariling sasakyan, ngayon pa lang kami magkakaroon. Sobrang saya naming pamilya!” said Santos during the official turn over of the unit at GAC Motor Metrowalk, Pasig Showroom.

“We would like to congratulate Mr. Sherwin Santos for winning the AllNew GS8 4x2 Sports. We are glad that

you’ve become part of the launch of GAC Motor’s opening of LazMall flagship store. Through this campaign, we were able to reach out to new and existing customers, make the availing of car services and car reservations easier, and we’re able to expand our presence on the virtual world in the new norma. Soon, we will be extending our Lazada store by including car parts and accessories,” said Wilbert Lim, president and CEO of GAC Motor Philippines.

To avail of car services and car reservation vouchers, and know more about GAC Motor Philippines’ LazMall Flagship Store, visit and follow www.lazada.com.ph/shop/gac-motorphilippines/.

M

ONDELEZ Philippines was recognized as one of the Best Places to Work in 2021 in the country.

The organization received a high 88 percent rating for leadership and social responsibility and a staggering nod of approval from 84 percent of their employees, which secured the certification for the company. This recognition was given by the Best Places to Work certification, which is the most definitive ‘Employer of Choice’ body that organizations aspire to achieve.

“It's about how people feel about the workplace, how we are able to play to our potential while at the same time getting a good balance between work and personal lives, especially during these times. On teamwork and relationships, we scored a high 87 percent as well, which is really about how people feel about their peers, their colleagues, how well people work together, and how respected they feel as individuals in the organization. These were some of the merits that our award was based on,” shared Ashish Pisharodi, Country Director for Mondelez Philippines.

The workplace greatly changed during the global health crisis but Mondelez PH took it as an opportunity to create a more flexible working arrangement for the employees.

This included the introduction of “Meet-Less” Fridays, which encouraged colleagues to avoid booking meetings starting 1:00 PM every end of the week, to give way to doing personal assignments or learning opportunities.

The organization has set up several platforms in which the employees and their leaders can engage in a healthy discussion and debate regarding company policies. Some of

these activities include their quarterly virtual Coffee Chat, Balitaktakan, and e-tambayan.

For well-being, they also recently engaged colleagues in a walk/run/bike challenge for their Purpose Day, which helped them achieve 5 million steps and almost 5,000 kilometers collectively, all while staying at home due to the lockdown. Another important milestone that the company has achieved is the celebration of the 10th year of their Joy Schools community program, which has engaged colleagues through 18 events and achieved 10,000 volunteer hours in the past decade.

Ayie Antonio, Sales People Lead for Mondelez Philippines shared that the end goal is for them to have an organization where people are involved and are more motivated to collaborate and do great things for the organization.

After the recognition, the company is now focused on recovery in 2022, with a voluntary return to office scheme now in place. This aims to promote flexible working, where physical and virtual working go hand in hand.

The company employs about 450 people in the Philippines, with a manufacturing facility in Parañaque City. Visit https:// ph.mondelezinternational.com/home.

Gaming just got better with Hisense ULED 4K Smart TV with Game Mode Pro Technology

W

HEN you really want to have the best experience while playing video games, you need to pair your console with a TV that’s packed with the best features for gaming. Great picture quality, a wide range of colors, and minimal input lag are just a few of the things you should look for when selecting a gaming TV. All these can be found in Hisense’s U6GS 4K ULED Smart TV with Game Mode Technology. This technology is capable of recognizing gaming sequences, automatically optimizing the TV’s settings to deliver the best possible gaming experience.

4K Resolution

MANY video games now feature 4K resolution, and consoles have been quick to adapt. In order to enjoy these games to the fullest, you should be able to play them on a 4K TV as well. Hisense’s 4K ULED Smart TV features a 4K display with 3840×2160 resolution that is perfect for this.

HDR10 Display

ANOTHER of this TV’s features that is great for gamers is its HDR10 Display, which enhances the color and contrast of images on your TV screen. This means that you get to see every vibrant color in your game, with improved brightness and contrast for even more superb visuals.

Hi-View Engine

THIS TV is equipped with Hisense’s proprietary AI-powered Hi-View Engine, which enables fast graphic processing. This guarantees the finest image, and the clearest motion in any content that you are watching, including video game scenes.

Large Screen Size

FINALLY, Hisense’s 4K ULED Smart TV comes in sizes ranging from 50” to 65”, and these large screen sizes are great for gaming in bigger spaces, together with your family or group of friends.

Other key features of the Hisense U6GS 4K ULED Smart TV include:

A 4K Upscaler that can upscale Full HD into a 4K display and Dolby Vision that brings extraordinary color, contrast, and brightness to the screen.

Hisense’s fast, easy to use, and customizable VIDAA U Operating System, which gives you access to all the best streaming apps, including Netflix, Youtube, Prime Video, NBA TV, and iWant TFC. The HTML5-based VIDAA Store that gives you automatic access to apps for enjoying music, videos, games, social networking, and news, without the need to log in and out while VIDAA Art turns the TV screen into a beautiful art display using 370 million available artworks on Deviantart, and even your own photos.

Screen Sharing using Anyview Cast can wirelessly mirror your Android phone’s screen onto your TV. Audio only mode allows you to turn off your TV’s display to save on electricity, and use your TV as a speaker for listening to music and other audio content.

It has a Bluetooth Function for connecting your TV to an external speaker without the need for cables.

The One-Touch Access button on your remote control makes launching Netflix and YouTube more convenient.

It also has the ability to navigate through your TV using your smartphone through the Remote Now app.

Hisense also has other TV categories available in the Philippines, including its 4K Laser TV, Android TV, and Digital LED TV. You may check out all of these TVs at leading appliance stores nationwide.

For more updates, visit www.hisense. com.ph and follow its official social media accounts on Facebook (https://www. facebook.com/HisensePhilippines/) and Instagram (https://www.instagram.com/ hisenseph/).

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, January 10, 2022 B7

‘Love, Life and Loss During the Pandemic’ Poems by Pablo A. Tariman W

PR Matters

By Joy Lumawig-Buensalido

E L C O M E t o 2 0 2 2!

While most of us would rather erase or write off 2020-2021 from our memories because of all the challenges, struggles and negative experiences we experienced, the pandemic also brought about some positive outcomes which may have surprised some of us.

I had written sometime in 2020 that creativity zoomed to its peak during the months that we were restricted from movement and freedom. In that article “What can we do better after the pandemic” published in this column on April 27, 2020, I included an early poem that had been written by my friend and veteran journalist Pablo Tariman because I had really been touched by his poetic statements. It turns out that he wrote almost everyday and posted his poems on Facebook, where he soon gained a steady following of netizens enamored with his poems, and shared and re-shared them all over the world.

“Certainly, I didn’t expect that many poetry readers on FB, “says Pablo.

Fast forward to today and I’m ecstatically happy for Pablo who has quietly self-published his collection into his first book Love, Life and Loss During the Pandemic which has already presold over 400 copies and delivered to the buyers’ homes. On December 30, 2020, his 71st birthday, his poem “Ode to Frontliners” appeared on a marker dedicated to health workers and unveiled by Pasig City Mayor Vico Sotto with a special program.

The very humble Pablo calls himself a “reluctant author” who resumed writing poetry after 50 years when he found himself in a long lockdown due to the pandemic.

“My modest poetry output during the pandemic was literally an act of re-opening my poet’s eyes after a silence of almost 50 years.

I could say that my second literary life, ushered in by the pandemic, dramatically shifted during the lockdown.”

Two days after the inauguration of Joe Biden as the 46th President of the United States, Pablo’s poem, “A Poet is a Lonely Hunter” appeared on the FB timeline of the celebrated young poet Amanda Gorman. Pablo had greeted Amanda with his poem. I became an instant fan of Amanda but felt even prouder of Pablo when she shared Pablo’s special greeting to her.

I myself pre-ordered four books and gifted one to my frontliner doctor/son and another friend who is a grief coach. I will definitely order more copies because his poetry speaks of everything that our hearts and minds felt during those difficult times. It is his personal narrative yet it reflects our own thoughts and emotions.

“How the readers reacted was exactly how my restless soul was

Gaming: Take a seat with Pikachu and Charizard with the Pokémon Collection by Secretlab

SINGAPORE—Introducing the Pokémon Collection by Secretlab. Com-

Pasig Mayor Vico Sotto (right) with Pablo Tariman (center) and Pasig congressman Roman Romulo (left) at the unveiling of the marker.

The poet Pablo Tariman with a painting of his daughter Kerima in the background for whom he wrote “Infant In My Mind.”

”Love, Life and Loss During the Pandemic”—poems by Pablo A. Tariman

during these restless times. I realized that poems humanized stories. Readers like it when you go to the heart and the soul of the subject,” writes Pablo in his foreword.

I absolutely agree. This book is a gentle yet profound reminder of all the powerful and bitter memories of this pandemic which hopefully, we can someday just look back on as a dismal but indisputable part of our history.

I wish I could share more of Pablo’s poems here, but due to space limitations, I am compelled to limit my choice of poems to only two of his favorites.

The first one, “Infant In My Mind” was his tribute to his daughter Kerima who unfortunately passed away on August 20, 2021.

The second is “Naked I Write Poems” which was one of his two poems included in the Singaporepublished anthology “The Great Asian Poetry 2021” launched in December 2021.

INFANT IN MY MIND It’s hard to catch sleep Thinking of the infant In my mind.

But of course She has outgrown Her infant years.

She has ended Forty-two years Of a life With her brand Of heroism.

I think of her now Lifeless on a cold cement floor,

bining the award-winning comfort of the Secretlab TITAN Evo 2022 with two of the most beloved Pokémon of all time, the Secretlab Pokémon #025 and Pokémon #006 Edition chairs are designed for the most fervent Pokémon fans. These chairs will launch first in Japan to kick-start the Pokémon Collection campaign, and will be available while stocks last.

Created in 1996, Pokémon is a roleplaying game series filled with ele-

Waiting for her father and son To claim her And share A last hug.

It is strange That I will go home With her body reduced to ashes Before we fly home.

I like to recall The infant in my mind Frolicking in innocence With not a hint of the grim ending Ahead of her.

I like the innocence In my daughter’s eyes.

I like the angelic face I treasured When life was young And carefree.

I will soon see What’s left of her angelic face When I see her cold body Lying on the cement floor.

It is a belated fond goodbye It is a farewell to arms It is a final curtain call To the infant In my mind.

NAKED I WRITE POEMS I believe you have to strip naked To find the core of the poem In your mind.

You start with your body, Accept What’s left of your arms And your legs.

No longer the firm muscles They used to be.

ments of play such as “collecting”, in which the player catches and raises Pokémon, as well as “communication”, in which the player trades and battles with friends.

The Pokémon Collection by Secretlab brings together years of research and science-backed ergonomics to deliver a world-class sitting experience for Pokémon fans. Upholstered in Secretlab NEOTM Hybrid Leatherette for plush, supple comfort and featur-

You have to accept The aging face, Including the bags Below the dimming eyes.

You have to accept The fragile neck Now gathering wrinkles Where once they were taut And supple.

You need not count the years Of what’s left of your loins.

Think of the youthful passions They went through, The once sinuous years And the lessons learned From living, Loving, lusting and parting.

True You have to strip naked To write the poem In your mind.

You have to face The joy of living And the horrors That come with it.

You have to strip naked To find the poem in your mind.

You have to come clean With your fears and uncertainties.

Come clean with your dark passion And the purest of desire.

You have to come clean With what you have And the things that remained Unacquired.

Don’t be guilty With cars and houses That didn’t materialize, The awards that didn’t come.

And the illusions of fame You can’t really carry to your

ing the chosen Pokémon stitched onto the backrest, the chairs are a one-ofa-kind memorabilia for fans across generations.

The Secretlab Pokémon #025 Edition delivers an electric edge with Pikachu stitched on in soft velour, while the Secretlab Pokémon #006 Edition turns up the heat at the battlestation with detailed Charizard embroidery.

Debossed motifs of the chosen Pokémon are found along the chair’s side

The marker in Pasig

grave.

Just be naked, Show the scars And the disjointed bones.

Don’t conceal the wrinkles In a weakening frame Where once the handsome Body resided.

When you come to terms With your guilt, Your fears, Your uncertainties And your anger The poem will come Pure in its intent And edifying in its lyricism. *This poem first appeared in the anthology, The Best Asian Poetry 2021, published in Singapore.

Thank you once again Pablo for the gift of your poetry. May many more readers enjoy your book.

For book orders with delivery, text 0906-5104270 or e-mail artsnesservice@gmail.com. It is also available in selected outlets in Metro Manila, Baguio and Cebu.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premiere association for senior communications professionals around the world. Joy Lumawig-Buensalido is the p resident and CEO of Buensalido PR and Communications.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.

panels, embellished with Poké Ball detailing on each chair’s shoulder and finished with a unique tab showcasing each Pokémon’s type atop the backrest.

Available in sizes Small and Regular, the Pokémon Collection by Secretlab will let fans of the long-standing franchise take delight in and choose either Pikachu or Charizard as their seat of choice, while enjoying the latest ergonomic upgrades of the Secretlab 2022 series.

PVL sets up 3-conference 2022 season

S

PORTS Vision penciled a threeconference program to mark its second professional season with the Premier Volleyball League (PVL) Open Conference tentatively set to kick off hostilities on February 16.

At least 10 teams are initially on the roster for the kick off tournament set at either the Paco Arena Events and Sports Center in Manila or at Royale Tagaytay under a full bubble setup.

Chery Tiggo rallied from two sets down to beat fancied Creamline in a thriller five-setter that capped the country’s premier volley league’s inaugural pro staging that survived a slew of challenges amid Covid-19 conditions and quarantine restrictions last year.

Variants like Omicron, however, may disrupt plans to put up a better, trouble-free staging with experts expressing concerns that the variant’s mutations could allow it to dodge some protective antibodies generated

by Covid vaccines.

But Sports Vision remains confident it could successfully hold the three tournaments under the bubble set up the way it did the first time out at the PCV Socio-Civic and Cultural Center in Bacarra, Ilocos Norte.

“We’re looking at three conferences this year which will start with the Open Conference, hopefully, next month in a bubble set up,” PVL president Ricky Palou said. “We have Royale Tagaytay as our backup venue in case we won’t be allowed to hold our games in Manila.”

Palou said they are waiting for the approval from the Inter-Agency Task Force on the Management of Emerging Infectious Diseases and the Games and Amusements Board.

The Open Conference will run through three months, featuring a single round robin preliminaries with the top four clashing in a pair of bestof-three semifinal series. Winners will dispute the crown.

Besides Chery Tiggo and Creamline, the other teams are BaliPure, Choco Mucho, Cignal HD, Perlas Spikers, Petro Gazz, Black Mamba Army and PLDT. There are also two new teams applying for the league.

Jeo gets title shot

T

HE World Boxing Organization (WBO) elevated the February 5 fight between Filipino Jeo Santisima and American Joet Gonzalez as an international featherweight championship duel, MP Promotions President Sean Gibbons said.

Gibbons said on Sunday that the WBO wrote Top Rank’s chief Bob Arum about the development. The Santisima-Gonzalez fight is one of the undercards in the Jose RamirezJose Pedraza duel at the Save Mart Center in Fresno, California.

“This is my second chance to fight for a title, I am so thankful to God for this opportunity,” said Santisima (213 win-loss record with 18 knockouts), who will face Gonzalez (24-2 record with 14 knockouts), one of Top Rank’s newest boxers.

The WBO also declared the supposed non-title fight between Jonas Sultan and Puerto Rico’s Carlos Caraballo into an international bantamweight showdown last October in New York City. Sultan captured the belt via unanimous decision. Josef Ramos

A serious Bull run

Sports

US Women’s Open purse soars to $10 million on fabled courses

BusinessMirror

B8

L

| Monday, January 10, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

PROTESTORS hold banners outside the Park Hotel—where Novak Djokovic is also stranded—calling for the release of refugees being detained inside in Melbourne. AP

S

YDNEY—Novak Djokovic spent a fourth day on Sunday among the unwilling occupants of Melbourne’s Park Hotel.

The tennis superstar is awaiting court proceedings on Monday that will determine whether he can defend his Australian Open title or whether he will be deported—and the world has shown keen interest in his temporary accommodation.

His fellow residents in the immigration detention hotel include refugees and asylum-seekers who are challenging their own proceedings that have all lasted much longer than Djokovic’s. So long in some cases they feel forgotten.

Djokovic’s mere presence at the hotel, a squat and unattractive building on the leafy fringe of the city’s

DJOKOVIC ISSUE GETS POLITICAL

downtown, has drawn the world’s eyes to those other residents and their ongoing struggles with the Australian immigration system.

Refugee activists have been quick to capitalize on the media attention as one of the world’s most feted athletes shares the hotel and its sparse amenities with some of the world’s most vulnerable and dispossessed people.

Djokovic was denied entry at the Melbourne airport late Wednesday after border officials canceled his visa for failing to meet its entry requirement that all non-citizens be fully vaccinated for Covid-19.

His lawyers filed court papers Saturday challenging the deportation that show Djokovic tested positive for Covid-19 last month and recovered, grounds he used in applying for a medical exemption to the country’s strict vaccination rules. A decision on his appeal is expected Monday.

Renata Voracova, a 38-year-old Czech doubles player, was detained in

the same hotel over a vaccine dispute before leaving Australia on Saturday.

The Park Hotel was once a thriving tourist hotel, popular for its central location near Melbourne’s network of trams and across the road from the home ground of the Carlton Australian Rules Football Club.

But for the past two years it has often been referred to as the “notorious” or “infamous” Park Hotel. At the outbreak of the pandemic it was a quarantine hotel for Australians returning from overseas and reportedly a source of a delta-variant outbreak that swept Melbourne and forced the city into months of lockdown while claiming hundreds of lives.

More recently it has been home to travelers of a different kind: refugees and asylum-seekers who have been transferred for medical reasons from Australia’s off-shore detention centers on Manus Island and Nauru in the Pacific.

There are 32 asylum-seekers sharing the hotel with Djokovic.

Among them is Mehdi Ali of Iran who

was 15 when he made the dangerous journey to Australia by boat. He had spent the past nine years in an off-shore processing facility for asylum-seekers and refugees, and was recently moved to the Park Hotel, where armed police guard the entrance and residents cannot leave.

Mehdi says the hotel is “like a jail” with its lengthy confinement, lack of fresh air and poor food.

In October, a Covid-19 outbreak infected more than half of the hotel’s then 46 residents. In December, small fires broke out on one floor, residents were evacuated and one person was treated for smoke inhalation. Damage caused by the fires affected residents’ access to outdoor exercise areas, and asylum-seekers frequently complain they are confined to their rooms.

Refugee advocates regularly protest outside the hotel, mostly in small numbers and unnoticed by passersby. Djokovic’s sudden arrival has energized the protesters as they seek to draw global attention to the asylum-seekers and their treatment in Australia. AP

ONG considered the biggest event in women’s golf, the US Women’s Open now has prize money and future sites to match.

The US Golf Association (USGA) announced Friday the purse will nearly double this year to $10 million, by far the richest in women’s golf and challenging top prizes in women’s sports.

The purse was $5.5 million when Yuka Saso won at Olympic Club last year.

Helping to make it possible was the USGA bringing on a presenting sponsor—Ohio-based PreMedica, a not-for-profit integrated health organization serving 28 states.

With ProMedica’s backing, the US Women’s Open purse plans to increase to $11 million and eventually $12 million over the next five years.

Along with a massive jump in money, the USGA is sending the women to some of the classic US Open designs that for decades have hosted the men. That list includes a return to Oakmont and Pinehurst No. 2, along with Riviera, Oakland Hills, Merion, Inverness and Interlachen.

The USGA said Pinehurst would host the men’s and women’s Open in successive weeks in 2029, just as it did in a highly successful debut in 2014. Martin Kaymer won the US Open, and Michelle Wie captured her first major at the US Women’s Open the following week.

It’s the first major initiative by the USGA since Mike Whan, the former Ladies Professional Golf Association (LPGA) Tour commissioner, took over as CEO last summer.

“The USGA prides itself on conducting championships that not only provide an incredible stage for the athletes, but also give younger players something to dream about,” Whan said. “For more than 75 years, the US Women’s Open has been the one that every little girl, in every country around the world, has dreamed of winning.” AP

FILIPINO-JAPANESE Yuka Saso banks $5.5 million when she won at Olympic Club last year. AP

Govs’ Cup suspension tolls on TNT’s Williams, Rosario

By Josef Ramos

W

VETERAN Troy Rosario and rookie Mikey Williams can’t wait to return to action.

I HAVEN’T been this excited since the 2010-11 National Basketball Association (NBA) season when a 22-yearold Derrick Rose led the Chicago Bulls to the Eastern Conference Finals with a 62-20 record. Unfortunately, they lost in five games to the Miami Heat.

This was the deepest play-off run by any Bulls team since the Michael Jordan years and after that, they never reached the Eastern Conference Finals again (although they did make the semis twice after).

As a Bulls fan since 1986, I thought that season, they could

ITH the Philippine Basketball Association (PBA) hinting that the soonest the Governors’ Cup could resume is next month, TNT Tropang Giga’s spitfire rookie Mikey Williams and do-it-all veteran Troy Rosario have no choice but to toe the line in terms of training under strict health protocols.

go all the way with Rose, Carlos Boozer, Luol Deng, Taj Gibson, Kyle Korver, Joakim Noah and Jannero Pargo. But their youth told on them come the win-or-go-home play-offs.

True confessions…I started out as a Philadelphia 76ers fan in 1977. And I stayed one until 1986. By then I was unhappy that they traded away Moses Malone for a couple of players who never panned out, and worse, even tried to trade their team icon in Julius Erving.

Michael Jordan was a huge reason why I shifted allegiances to the Bulls. After decades of wasting away a legacy with very good teams and mediocre ones, I jumped shipped after they traded away Jimmy Butler in 2017 (to Philadelphia). I was upset when they let go of a young Elton Brand and Ron Artest; two players who, had they been given a chance to develop, would have turned the Chicago franchise around. Andres Nocioni was another favorite of mine but they let him go too (to the Sacramento Kings and he eventually joined the Sixers).

I wondered…what is the universe telling me? My favorite players of recent Bulls’ vintage had eventually moved to Philly. So after they dumped Jimmy Buckets, so did I decamp back to Philadelphia.

However, it was hard not to follow the Bulls. For one, old habits die hard. They picked up Zach LaVine from Minnesota and drafted Lauri Markkanen.

Then this off-season happened. They had picked up some of my favorite players outside the Bulls in Alex Caruso, Lonzo

“It’s definitely tough, it’s a setback,” Williams told BusinessMirror on Sunday. “I was looking forward to the games coming up and continuing to build with the team. We put in a lot of work to prepare and then we get hit with this.”

Williams was TNT’s fourth overall pick in last year’s draft, but made a strong impact when his team won the Philippine Cup over Magnolia in five games last year. He averaged 27.6 points, 5.2 rebounds and 4.8 assists to run away with the Finals MVP trophy.

“Everything’s just about

individual workout for now,” said the former Sioux Falls Skyforce guard in the National Basketball Association’s G League.

Rosario, on the other hand, is still fully recovering from a groin injury that sidelined him in Game 5 of the all-Filipino Finals against Magnolia.

“I’m hoping to get back once the league resumes,” said the 6-foot7 Rosario, who’s optimistic that TNT could also win the Governors’ Cup for as long as everyone at TNT stays healthy. “We’re not getting any younger anymore but as long as we’re healthy the whole conference,

Ball and DeMar De Rozan. They also added Nikola Vucevic who began his NBA career with Philly (there’s that connection again) before starring with the Orlando Magic. They also have Coby White, the exciting Derrick Jones, Ayo Donsunmu and others.

When they won their four pre-season matches, I raised an eyebrow. Whoa. This is something, I thought.

The Bulls organization also brought back Joakim Noah as a team ambassador. That meant the return of some seriously good vibes.

I realize that NBA analysts downplayed their chances, and perhaps, rightly so. But what they ignored was how they were moving up that ball and playing unselfish basketball.

When the regular season began, Chicago won their first four matches then lost a squeaker to New York. Then impressively, they bounced back by beating the damn good Utah Jazz at the United Center.

They lost back-to-back matches to the Sixers then held serve at home with wins over the Brooklyn Nets and the Dallas Mavericks. They lost to Golden State and Portland but took the season series versus the Los Angeles Lakers and beat the Denver Nuggets.

At this stage, they were dicey. Then they went on this current nine-match win streak with back-to-back matches decided by DeRozan game winners. During this streak, they had players missing due to Covid-19 infections but they kept on trucking.

we can absolutely do it.”

The Tropang Giga were 2-2 wonlost before the games were shuttered.

The PBA indefinitely suspended play in the Governors’ Cup because of the sudden surge in Covid-19 infections with Commissioner Willie Marcial dismissing a resumption this month.

“Anything is possible—depending on the situation in February,” said Marcial, who added the Smart Araneta Coliseum could be a permanent venue for the Governors’ Cup. “We’ll just have to monitor what’s happening every day or week.”

Now you have former player turned television pundit Matt Barnes saying that it is never too late to get on the Bulls’ bandwagon as they have shocked everyone by posting the best record in the East with a 26-10 record ahead of the Nets (24-13) and the Milwaukee Bucks (26-15).

Only the Phoenix Suns and the Warriors have better records (30-8 and 29-9 respectively).

Of course, there is a long way to go. We aren’t even halfway through the season. Since the pandemic, this is the first time I have seen such a haphazard schedule. We understand why it has been like this given Covid-19.

The Bulls take on Golden State at home on January 15 and pay the Bucks a visit on the 22nd. These are the acid test games—the best team in recent memory and the defending NBA champions at their homecourt.

It is postulated that the Bulls lack play-off experience.

Individually, only DeRozan has the most exposure. LaVine, Caruso, Ball and Vucevic have played in the NBA’s second season. Caruso was a part of the Lakers 2020 champion team.

Do they lack play-off experience to make a deep playoff run and possibly go to the NBA Finals? Definitely. The Nets, Bucks, and the Warriors are battle-tested. Ditto with LeBron James’s Lakers.

In this topsy-turvy Covid-19 infected world? Who knows? Maybe these Chicago Bulls can achieve the incredible.