BusinessMirror January 17, 2022

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

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

Monday, January 29, 17, 2021 2022 Vol. 17 No.52 No. 101 Monday, November

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

quences on the economy.”

See “Omicron,” A2

NATL GOVTBORROWINGS BORROWINGS JAN-NOV FOR 10 MOS TO P2.75T DIP 8.9% TODIP P2.78T—BTR P25.00 P25.00 nationwide nationwide || 22 sections sections 18 20 pages pages ||

By Bernadette D. Nicolas

Omicron risk Power plant spurs revival closure sked of quarantine key toin averting rules PHL

@BNicolasBM

By Bernadette D. Nicolas

T T

@BNicolasBM

HE national government’s HE national gross government’s borrowings gross as of end-Octobersettled shrank borrowings byP2.78 almost 6 percent at trillion year-on-year from Januaryto to P2.75 trillion.

November 2021, smaller than the previous year’s level.

Latest data from the Bureau of the

crisis–DOE

By Samuel P. Medenilla @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 “There should be no surprises this year, (IATF) suspended the implemenespecially given our continuous battle tation of its Resolution No. 150against the Covid-19 pandemic, regions A (s.2021), effectively imposing that have been affected by Typhoon Odette stricter protocols for all inbound are rebuilding themselves, and of course, travelers. because we are in an election year.’”

To note, IATF Resolution 150—DOE Secretary Alfonso Cusi A had allowed fully vaccinated non-visa travelers from Green List

By Lenie Lectura areas to enter the country with@llectura out the need for facility-based

quarantine as long as they secure UZON will have adequate pownegative Reverse Transcriptioner supply and reserves this year.

Polymerase Reaction (RTThat’s ifChain the scheduled maintePCR) test within hours prior nance shutdown of 72 power plants is to their departure. carefully planned.

“Except for countries classified The Department of Energy (DOE) said Sunday that theand National Grid as ‘Red,’ the testing quarantine Corporation of inbound the Philippines protocols for all interna(NGCP) has indicated to theofagency tional travelers in all ports entry that “there are no foreseen yellow shall comply with the testing and alerts in 2022, with the NGCP havquarantine protocols for ‘Yellow’ ing proposed for some amendments listthe countries,” Nograles said, citing in schedule of generator maintethe provision of IATF Resolution nance adjustments.”

No.A151-A. yellow alert indicates the thinHeofnoted Hong Kong, has ning power reserves inwhich the grid. confirmed a case of thefall Omicron It is raised when reserves below the capacity thefall largest variant, will of also undergeneratthe Yeling lowunit. list countries.

The NGCP and of DOE did not The suspension the rules for provide the amended maintenance “Green List” countries will be in schedule of power plants. effect from November 28, 2021 to Both met last Friday to discuss December 15, 2021.

Treasury showed that the government’s gross borrowings during the

10-month period fell by 5.99 percent Latest data from the Bureau of from P2.92 trillion a year ago. the Treasury showed the governWith only two months left for ment’s gross borrowings for the this year, the latest figure is already 11-month period dropped by 8.9 equivalent to 89.6 percent of its percent from P3.05 trillion recordP3.07-trillion borrowing program. ed in the same period in 2020.

Broken down, gross domestic bor Of the P3.07-tr i l lion pro rowings from January to October grammed gross borrowings for settled at P2.23 trillion, down by 2021, year-to-date gross borrow5.08 percent from P2.35 trillion ings accounted for 90.6 percent. in 2020.

Gross domestic borrowings as of The bulk of the amount was end-November slid by 8.8 percent PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. sourced from Fixed Rate Treasury year-on-year to P2.25 trillion from The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by P2.46 trillion. hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO short-term borrowings from Bang The bulk of the amount was ko Sentral ng Pilipinas or BSP (P540 raised through the issuance of billion), Retail Treasury Bonds/PreFixed Rate Treasury Bonds at myo Bonds (P463.3 billion), Retail P1.26 trillion while the rest of Onshore Dollar Bonds (P80.84 bilthe amount was sourced through lion). In the same period, there was short-term borrowings from the also a net redemption of Treasury

By Jasper Emmanuel Y. Arcalas dating its registry following the them. This allows everyone to see programs as President Duterte Bangko Sentral ng Pilipinas (P540 Bills amounting to P43.94 billion. @jearcalas enactment of the Coconut Farmwho are listed in the registry and if is expected to sign the industry billion), Retail Treasury Bonds/ Net debt redemption means

ers and Industry Trust Fund law. farmer doesn’t see his name then he development plan in early 2022.

Premyo Bonds (P463.32 billion), there were more debts repaid comORE than 3 million Rosales explained that about shall coordinate with the PCA imRosales said the PCA will not and Retail Onshore Dollar Bonds pared to the amount borrowed durcoconut farmers and 500,000 coconut farmers and mediately,” he explained at a recent stop updating its list of coconut (P80.84 billion). ing the period. workers are now regisworkers were added to the PCA’s dialogue with coconut farmers. farmers and enjoined them to reg There was also a net redemption Meanwhile, gross foreign bortered with the government’s reg2018 list that had about 2.5 million “On the other hand, if people ister in order to reap the benefits of P97.3 billion in Treasury Bills. rowings in the same period also istry, which serves as the basis coconut farmers and farm workers. would see names on the list and of the decades-long idled coconut Net debt redemption means there 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 levy fund. “We will not stop at 3.1 were more debts repaid compared billion from last year’s P574.4 billion. covered by the utilization of the duct an exclusion-inclusion profarmers or their details are incormillion. We hope that more indito the amount borrowed during the This was raised through global P75-billion coconut levy fund. cedure by making the updated rect, they can report it to the PCA viduals will register in our coconut period. bonds (P146.17 billion), program Philippine Coconut Authority farmers’ registry public, providfor immediate action,” he added. farmers registry,” he said.

On the other hand, gross forloans (P139.98 billion), euro-de(PCA) Deputy Administrator Roel ing everyone the opportunity to The PCA official noted that The updating of the coconut eign borrowings in the same period A SANTO Niño image is registry seen as Father Ricky Pacoma by of the nominated bonds (P121.97 billion), M. Rosales said about 3.11 million check the veracity of the list, Rothe completion of the initial list farmers is mandated stood at P528.81 billion, contractNiño Parish Church in Wawa Santo Niño, Parañaque a project loan (P86.41 billion), and coconut farmers and farm worksales added. of coconut farmers registrySanto would Republic Act (RA) 11524 or theCity, ing by 9.4 percent from last year’s celebrates Mass toCoconut commemorate the Feast of Santo Niño, which yen-denominated samurai bonds ers have been registered with the “The list will be posted in public be just in time for the expected Industry Trust Fund Act. P583.64 billion. is typically marked by variousSee celebrations, parades, (P24.19 billion). government since it started up“3-M farmers,” A2dances and spaces where people can easily see rollout of coconut levy-funded the 2022 Power Demand/Supply This was raised through dolevents all over the country. But like the Traslacion last week, all See “Borrowings,” A2 Continued on A2 Outlook, as provided for by Departlar-denominated global bonds observances to honor the Santo Niño this year will be subdued ment Circular (DC) DC2020-02(P146.17 billion), program loans due to the continuous spread of Covid-19. NONIE REYES 0004, “Providing Guidelines on the (P139.98 billion), euro-denomi- n US 50.4600 n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n SINGAPORE 36.8968 n AUSTRALIA 36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531 Source: BSP (November 26, 2021) Planned Outage Schedules of Power nated bonds (P121.97 billion), a Plants and Transmission Facilities project loan (P96.5 billion), and and the Public Posting of the Grid yen-denominated samurai bonds Operating and Maintenance Pro(P24.19 billion). gram (GOMP).”

For November alone, the na Among others, the GOMP policy reBy Jovee Marie N. dela Cruz monetary policy and the surge in warned. mies Must Prepare for Fed Tightentional government’s gross borquires generation companies (GenCos) Covid-19 Omicron variant cases.

Moreover, Salceda said “If prices ing,” IMF economists Stephan Dan@joveemarie to submit their respective proposed rowings plunged by 78.5 percent ninger, Kenneth Kang and Helene Salceda said the strength of the are high, real economic growth will

maintenance schedules in advance. to P26.7 billion from P124.04 bilPoirson said policy-makers may agricultural sector will determine slow down.”

HE chairman of the House “The goal of these meetings is lion in the same month in 2020, need to react by pulling multiple general inflation and wage pres “If food prices are high, the Committee on Ways and to make sure that all power sector mainly due to the net redemption policy levers depending on the acsures. pressure to increase wages will also Means said strong growth stakeholders are aligned for CY2022. of Treasury Bills. tions of the US Fed, as well as chal “ We have several defenses be stronger, resulting in a labor and investment in the agriculture The availability of stable and reli The government borrows to lenges in their respective countries. against a bad tide. We can keep market that is not as competitive sector will be key to ensuring that able power supply is of grave imporour monetary policy easy with low “While the global recovery is for investors. Agricultural output the Philippine economy sustains meet its spending requirements tance—there should be no surprises interest rates. We can continue our projected to continue this year will really be important,” Salceda high economic growth levels this as well as to finance its budget this year, especially given our conmassive investments in infrastrucand next, risks to growth remain year. said. deficit. tinuous battle against the Covid-19 ture and other public spending proelevated by the stubbornly resur Albay Rep. Joey Sarte Salceda On the other hand, Salceda said The national government’s pandemic, regions that have been grams. We can continue to encourgent pandemic. made a statement during the week“if food prices are good during this affected by Typhoon Odette are reoutstanding debt was trimmed to age investments in the Philippines.

Given the risk that this could end as the International Monetary year, we can also keep our interest building themselves, and of course, P11.93 trillion as of end-November But, all of that has something to do coincide with faster Fed tightenFund (IMF) warned that emerging rates low, because there will be far because we are in an election year,” 2021, but this was still beyond the with agriculture, especially food ing, emerging economies should economies such as the Philippines less pressure to rein in inflation.”

DOE Secretary Alfonso Cusi said in government’s expected level of prices,” Salceda said. prepare for potential bouts of could face “economic turbulence” a statement.

P11.73 trillion for the year.

See “Agri,” A2 economic turbulence,” the IMF In a post titled “Emerging Econofollowing developments in US

L OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND

M

PESO EXCHANGE RATES

BOOSTING AGRI TO HELP AVERT ‘TURBULENCE’ IN ‘22

T

See “Borrowings,” A2

PESO EXCHANGE RATES n US 51.1150

See “Power plant,” A2

n JAPAN 0.4477 n UK 70.0684 n HK 6.5642 n CHINA 8.0367 n SINGAPORE 37.9811 n AUSTRALIA 37.2322 n EU 58.5573 n SAUDI ARABIA 13.6202

Source: BSP (January 14, 2021)

News

BusinessMirror

A2 Monday, January 17, 2022

Locsin scores new jail term on Suu Kyi; Lee weighs in

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By Malou Talosig-Bartolome

ANILA and Singapore, in a break from Asean’s tradition of non-interference, have assailed Myanmar’s military rulers after prodemocracy leader Daw Aung San Suu Kyi was convicted to four years in prison.

Philippine Foreign Affairs Secretary Teodoro Locsin Jr., who has always been open about his support for Suu Kyi, issued what could be his most stinging rebuke since the junta staged the February 2021 coup that unseated and detained democratically elected Suu Kyi. This, as Singapore’s Prime Minister Lee Hsien Loong said because of the new verdict on Suu Kyi, the Association of Southeast Asian Nations (Asean) should continue to sideline Myanmar junta leader Senior General Min Aung Hlaing at their future summit meetings.

“I condemn [the] sentencing to four years in prison of State Counsellor Aung San Suu Kyi. The military regime is using the judicial system to silence political opponents and crush the National League for Democracy,” Locsin said in a statement released to media Sunday.

On Monday, a Myanmar court found Suu Kyi guilty of three charges including possession of unlicensed

walkie-talkies and breaching coronavirus curbs. Last month, she was also convicted for “incitement” and breaching Covid-19 protocols. When combined, these two verdicts have netted the 76-year-old leader six years in detention.

The Nobel Peace Prize winner is also facing multiple counts of corruption—each of which is punishable by 15 years in jail—and of violating the Official Secrets Act. Along with Myanmar’s president Win Myint and 15 other officials, she was also charged with alleged electoral fraud during the 2020 elections—which her party, the National League for Democracy, won in a landslide.

Echoing in toto the statement of Norwegian Foreign Minister Anniken Huitfeldt, Locsin said nearly one year has passed since the military coup and yet “the situation has deteriorated sharply in all areas of society.”

“I am deeply concerned about the suffering of the civilian popu-

“Suu Kyi is indispensable in a democratic restoration that will pose no threat of anarchy, dissolution, and civil conflict.”—Foreign Affairs Secretary Teodoro L. Locsin Jr.

lation,” he added.

Singapore’s Lee

SI NGA POR E A N P rem ier L ee made a similar observation, saying, “there had not been any significant progress” in the implementation of the demands set forth by Asean leaders in April 2021. The five-point peace plan is for: a ceasefire, constructive dialogue among parties for peaceful solution, mediation of an Asean special envoy, Asean humanitarian assistance, visit of special envoy to Myanmar to meet Suu Kyi and all concerned parties.

Lee said that just days after the visit of Cambodian Prime Minister Hun Sen to Myanmar, there were further attacks by the Myanmar military on its political opponents, and additional prison sentences were imposed on Suu Kyi. Asean could not coordinate a

ceasefire because its special envoy was refused access to Suu Kyi and other parties.

“Prime Minister Lee expressed his view that until there was significant progress in implementing the Five-Point Consensus, Asean should maintain its decision reached at the 38th and 39th Asean Summits of inviting a non-political representative from Myanmar to Asean meetings. Any discussion to revise the Asean Leaders’ decision had to be based on new facts,” the Singapore Foreign Minister said in its news release.

Locsin’s call was more direct— release all its political prisoners, uphold democratic institutions and processes, refrain from violence and respect human rights and rule of law.

“We also call on the military leadership to participate in an inclusive dialogue and resume the democratic transition process,” the top Filipino diplomat said.

Suu Kyi indispensable

THE Philippine foreign minister also suggested that Suu Kyi, “despite her conviction,” be made part of the ceasefire talks among the Asean special envoy and the ethnic armed organizations. “The armed forces of Myanmar have nothing to fear, and much to gain, from the democracy it introduced to Myanmar by stepping back nor by its restoration by doing so again.

Suu Kyi is indispensable in a democratic restoration that will pose no threat of anarchy, dissolution, and civil conflict,” he said.

The Special Envoy’s access to all parties concerned must not be subject to any conditionality. Most especially, the implementation of the Five-Point Consensus must not be tied to any roadmap, for the Consensus is the only one agreed to by the Asean leaders during that meeting in Jakarta in April 2021.

Asean foreign ministers were supposed to meet for a retreat in Siem Reap Cambodia on January 18-19, but such was postponed indefinitely as many ministers has “difficulties traveling to attend the meeting.” Cambodia holds the rotating chairmanship of Asean meetings for this year.

In the meantime, Locsin said he will work with his colleagues in Asean “to find measures to ease the suffering of the people of Myanmar, and push for dialogue among all stakeholders, most especially Daw Aung San Suu Kyi, and substantial progress in the Five-Point Consensus of Asean.”

The Philippines will also work with Norway, president of the UN Security Council for this month, to find ways “to end the killings” in Myanmar.

Both Manila and Singapore welcomed the visit of Hun Sen to Myanmar during the first week of January. Prime Minister Lee had a video call meeting with Sen last Friday.

Locsin said Hun Sen “deserves wholehearted support,” recalling Hun Sen’s leadership role ‘in bringing to an end the mass murders and suffering in the nationwide death camp of Kampuchea.”

Malaysia’s concern

HOWEVER, Malaysian Foreign Minister Saifuddin Abdullah said some Asean members were concerned Hun Sen’s trip could be “construed or interpreted as a recognition of the military in Myanmar.”

“Malaysia is of the opinion that he has the right to visit Myanmar as the head of government of Cambodia. However, we also feel that because he has already assumed the chair of Asean, he could have probably consulted the other Asean leaders and sought our views as to what he should do if he were to go to Myanmar,” Saifuddin was quoted as saying.

www.businessmirror.com.ph

Agri...

Continued from A1

on February 5 in time for the start of the campaign period for nationally-elected positions on February 8.

Salceda said the Congress will also prioritize policy reforms in the final months of the Duterte administration to modernize farms and fisheries, promote sustainable forestry, and lower the costs of feeds and fertilizers.

Salceda added that he is pushing for the inclusion of these areas in the Strategic Investment Priorities Plan (SIPP) which would allow them to qualify for tax incentives under the Corporate Recovery and Tax Incentives for Enterprises or CREATE Act which Salceda principally authored.

“Every breakthrough in human civilization has been marked by radical progress in agriculture.

If the Philippine economy will break out to developed status, we will need dramatic progress in our agriculture sector,” Salceda said.

According to Salceda, Philippine agriculture is one sector where there is plenty of under-investment.

“We are coming from a very low base, as we lag most of our neighbors in nearly every major crop. There are also investment gaps in mechanization, market development, postharvest facilities, and storage that we can pump money into,” he said.

Last agenda

THE economist-law maker said expediting the rollout of the Rice Competitiveness Enhancement Fund (RCEF), improving biosafety in agricultural imports, the implementation of the rice farmers financial assistance program, and commencing a subsidy program for inorganic fertilizers are some key agenda items that the House will immediately work on once legislative session resumes this Monday.

After it resumes session on Monday, the House will adjourn

Borrowings...

Continued from A1

The debt stock dipped by 0.3 percent from P11.97 trillion as of end-October on the back of net redemption of domestic securities and favorable foreign exchange rates.

Finance Secretary Carlos G. Dominguez III earlier said the coun-

try’s debt-to-GDP ratio is projected to rise to 59.1 percent in 2021 and peak this year at 60.8 percent— slightly above the internationally accepted threshold—before gradually tapering off to 60.7 percent and 59.7 percent in 2023 and 2024.

CTRP reforms...

Continued from A10

These in principle should at the very least be subject to capital gains taxes,” Salceda added.

“The aim should still be revenue neutrality for Package 4, and the non-tax priorities of Package 3.

With Package 3, we can complete infrastructure faster, since confusing or disharmonized valuation tends to be part of the right-of-way issues,” Salceda explained.

“I think the Secretary of Finance knows that the House will not cause any delay in the passage of key reforms. We still have time. I urge my Senate counterparts to see what we can still finish among the reforms,” Salceda said.

brid manner.

Velasco maintained that only 20 percent of the workforce in each department and office in the House will be allowed to report for work starting Monday.

Under the HousePass system, a health and safety officer (HSO) assigned to each department and office can nominate staff members who will be reporting for work daily. These personnel can then fill out online a digital copy of their health declaration form and, after which, will be assigned a QR code.

The code will then be scanned upon entering the buildings at the Batasang Pambansa complex. Only authorized persons, as nominated

by HSOs, will be allowed inside.

An antigen test will be administered to those physically reporting for work at the start of every week.

Those with symptoms or have received a positive test result should consult a physician and self-isolate for at least 7 days, pursuant to recent guidelines released by the Department of Health.

The sessions shall be held from Monday to Wednesday, with a limited number of House members and Secretariat personnel physically present inside the plenary hall. The rest of lawmakers shall attend the session through videoconference.

All committee meetings, public hearings and events in the House shall be conducted via videoconferencing platforms.

Protocols

MEANWHILE, Velasco said the House will implement necessary protocols to protect lawmakers and employees as the chamber “continues to fulfill its mandate of producing laws designed to improve the lives of Filipinos.”

“This is not the time to be complacent. We needed to step up our health and safety protocols in the House so we could keep the legislative mill running even in the midst of what has been described as the worst surge in Covid-19 cases in the country,” Velasco said.

Emerging from a two-week lockdown, the House is expected to intensify the implementation of the HousePass System while plenary sessions will still be done in a hy-

Power plant...

Continued from A1

For Visayas, the issuance of yellow alerts may happen, citing the absence of high-voltage direct current (HVDC) transmission link from Luzon, and after taking into account generator maintenance adjustments.

HVDC should always be available to provide support, as outages outside of the provided maintenance schedule may result in the thinning of reserves in Visayas or Luzon, since both grids support each other at peak times of the day.

For Mindanao, there are no foreseen yellow alerts, even after factoring in generator maintenance adjustments.

The DOE reiterated that the GOMP is an important tool to enable it to come up with accurate power supply/demand projections for the coming year.

In addition, sound forward planning would allow the energy stakeholders to identify potential issues and formulate appropriate contingency measures to prevent potential power interruptions.

Under Section 3 of DC2020-020004, GenCos are required to submit their three-year planned outage schedules to the NGCP, which serves as a basis for the crafting of the GOMP. The NGCP should submit the GOMP on the “last day of October of each year, for review and approval” of the DOE, which then “directs the necessary adjustments in the generation and transmission planned outage schedules”.

Furthermore, the circular also clearly stated that “only the hydroelectric power plants shall be allowed to conduct power plant maintenance during the peak quarter”.

Both the DOE and the NGCP agreed that GenCos should strictly adhere to their maintenance schedule submissions in the recently approved GOMP 2022-2024.

The DOE and NGCP are expected to continue to meet regularly as part of the preparations for the presentation of the annual power supply and demand outlook.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Monday, January 17, 2022 A3

Overseas Pinoys will still send votes via snail mail

By Samuel P. Medenilla @sam_medenilla

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AJORITY of overseas voters in the 2022 polls will still be casting their votes via mail amid the ongoing pandemic, according to the Commission on Elections (Comelec).

In its Minute Resolution 21-1356, the Comelec announced the modes of overseas voting per country and/ or area within post jurisdiction from April 10, 2022, to May 9, 2022.

Out of the 92 posts, 29 will make use of postal voting and use an automated election system (AES) for counting votes.

These are: Bangkok; Canberra; Manila Economic and Cultural Office (MECO) Kaohsiung (Nantou County, Changhua County, Yunlin County, Chiayi County, Pintung County, Taitung County, Penghu County, Kinmen County); MECO Taipei (Hualien County, Yilan County, Taichung City and Miaoli County); Melbourne; Nagoya; Osaka; Singapore; Sydney; Tokyo,Wellington; Athens; Barcelona (Outside Barcelona, Spain except Madrid Regions of Aragon; Andorra; Comunidad, Valenciana, Calaluña, Baleares Islands); London; Madrid (Outside of Madrid except Barcelona; Canary Islands); Milan (Lombardia/Lom-

bardy Region, Veneto; TrentinoAlto Adige; Friuli Venezia Guilia, Emilia-Romagna; Valle d’Aosta; Piemonte; and, Liguria); Rome; Riyadh (Yemen); Agana; Calgary; Chicago; Honolulu; Houston; Los Angeles; New York; Ottawa; San Francisco; Toronto; Vancouver; and, Washington, D.C. To note, some mode posts have multiple modes of voting scheme and counting of votes.

Another 37 posts will be using postal voting but make use of manual counting of votes.

These are: Beijing; Chongquing; Dhaka (Maldives, Sri Lanka); Guangzhou; Hanoi; Islamabad; Port Mores-

by; Xiamen (Jiangxi Province); Yangon; Ankara; Berlin; Berne; Brussels; Budapest; Copenhagen; Frankfurt; Geneva; Istanbul; Lisbon (Portugal, Sao Tome and Principe, Guinea-Bissau, Cabo Verde, Gibraltar); Moscow; Oslo; Paris; Prague; Stockholm; The Hague; Vienna; Warsaw; Abuja (Benin, Central African Republic, Gabon, Burkina Faso, Cameroon, Côte D’Ivoire, Equatorial Guinea, Ghana, Liberia, Sierra Leone, Gambia and Togo); Cairo (Ethiopia, Djibouti, Sudan and Eritrea); Nairobi (Democratic Republic of Congo, Somalia, Burundi, Malawi, Rwanda, South Sudan, Republic of Congo and Comoros); Pretoria; Rabat (Mauritania,

Barcelona (Barcelona); Madrid (Madrid); Milan (Milan); Abu Dhabi; Amman; Beirut; Doha; Dubai; Jeddah; Kuwait; Manama; Muscat; Al Khobar; Riyadh; and, Tel Aviv.

The 18 remaining will hold personal voting and then count their votes manually.

These are: Dhaka (Bangladesh); Dili; Jakarta; Manado; New Delhi; Phnom Penh; Shanghai; Vientiane; Xiamen (Fujian Province); Lisbon (Angola); Vatican; Abuja (Nigeria); Cairo (Egypt); Damascus; Nairobi (Kenya, Seychelles, Uganda and Tanzania); Rabat (Morocco); Tehran (Iran); and, Buenos Aires (Argentina).

EastMinCom converts BRP Ang Pangulo into hospital

PHL Embassy in NZ monitoring Pinoys in Tonga, Samoa and Fiji

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

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By Malou Talosig-Bartolome

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HE Philippine Embassy in New Zealand is closely monitoring the developments in Tonga and two other Pacific islands with about 800 Filipino residents, after an underwater volcano erupted and triggered massive tsunamis across the Pacific.

There are 87 Filipino workers registered in Tonga, whose largest island Tongatapu was battered by tsunami Saturday. They are mostly teachers, missionaries, divers, household service workers, tailors, accountants, entrepreneurs and government service workers.

There is no Philippine Embassy in Tonga. The Philippine Embassy in Wellington has jurisdiction over Tonga as well as the nearby Pacific Islands of Samoa, Fiji and Cook Islands.

Philippine Ambassador to Wellington Jesus Domingo told Business Mirror that they have been trying to reach out to the Filipino community in Tonga but to no avail. Communication with the island state has been cut off.

“Post was able to reach out to friends and relatives of Filipinos in Tonga, who have conveyed unofficial reports that the tsunami warning is still up,” Domingo said.

Aside from Tonga, the Embassy is also closely following the developments in Samoa, where there are 300 Filipino workers, and Fiji with around 400 Filipino expatriates, mostly doctors and managers.

The tsunami waves from the violent explosion of the underground volcano also reached Samoa and Fiji .

Domingo said they are in touch with the Filipino community in Samoa. The tsunami warning is still in effect as of yesterday afternoon.

Those who are living in lower lying areas have moved to higher grounds as a precaution.

“Philippine Consulate in Suva, Fiji has reported that there are no Filipino casualties and that the tsunami warning has been lifted (Saturday),” Domingo added.

There are 87 Filipinos registered in Tonga, whose largest island Tongatapu was battered by tsunami Saturday.

There is no Philippine Embassy in Tonga. The Philippine Embassy in Wellington has jurisdiction over Tonga as well as the nearby Pacific Islands of Samoa, Fiji and Cook Islands.

Aside from Tonga, the Embassy is also closely following the developments in Samoa, where there are 300 Filipino residents, and Fiji, with around 400 Filipino expatriates.

The tsunami waves from the violent explosion of the underground volcano also reached Samoa and Fiji.

Reports reaching the Embassy said residents in those areas moved to higher ground.

Communication systems have been disrupted, but the Embassy is trying to reach out to Filipino community leaders to determine the condition of Filipinos there.

Mali, Guinea, Senegal); Tehran (Uzbekistan and Turkmenistan); Brasilia; Buenos Aires (Bolivia, Paraguay and Uruguay); Mexico; and, Santiago.

Traditionally, most Philippine posts abroad conduct overseas voting via mail.

The following 22 posts will require voters to be personally present to cast their votes, which will be then counted via AES. These are: Brunei; Hong Kong; Kuala Lumpur; Macau; MECO Kaohsiung (Kaoshiung City and Tainan City); MECO Taipei (Taipei City New Taipei City, Taoyuan City, Keelung City, Taoyua County and Hsinchua County and Hsinchu City); Seoul;

COLORFUL YEAR

Colorful Chinese ornaments are on display and is for sale in Ongpin, Manila, as the Chinese New Year nears. Different good luck charms are being sold in the area in the run up to February 1. NONIE REYES

Covid-hit Gatchalian backs health break for teachers

By Butch Fernandez @butchfBM

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HE limited face-to-face classes that should have been scaled up early this year will admittedly be set back by the surge in Covid-19 cases believed fueled by the Omicron variant. But Sen. Sherwin Gatchalian, who championed such physical sessions, said teachers need a break as many are infected.

“It’s truly sad because I’ve been pushing to return to face-to-face [setup] but we must take care of our teachers who have been down by flulike symptoms,” Gatchalian told DWIZ in an interview over the weekend.

“I support this health break because I want our teachers to recover.

Since we don’t have the face-to-face [classes], our teachers have been the ones collecting modules; they’re the ones checking the modules. They physically go to schools because that’s where the modules are deposited,” the senator told DWIZ, speaking partly in Filipino. “[This] means our teachers are always exposed. The students not so much [exposed], but our teachers face difficulties.

Gatchalian chairs the Senate panel on basic education.

Asked if he backed calls for mass free RT-PCR and antigen testing, so that those who are really infected can

be quickly isolated, Gatchalian said that at this point, “testing [seems] useless” because of the big numbers of those positive.

“So my advice is, if you have symptoms, go into quarantine right away.

Don’t wait to be tested and turn out to be positive. But of course, if you are a senior citizen or with comorbidity you need to be tested. But otherwise if you’re relatively healthy and then felt a sore throat, go into quarantine first,” he added.

The Senator said that tack was adopted in Europe, citing Spain, the first country that regarded Covid like a common flu.

“We are headed in that direction, because most of us have been vaccinated.” Gatchalian cited his own recent experience when he got infected with Covid-19.

“From experience because we are vaccinated, it didn’t turn out to be so different from the flu,” the senator recalled to DWIZ. “In fact, whenever I have the flu, it’s like that: three or four days [I’m down]. I remember there were times when I would get the flu once a year because of the season. So, I think, we are headed to that point where Covid will be treated like the flu because we are vaccinated.”

He welcomed the availability of antigen tests, as it allows people to

find out quickly if they are infected.

People feeling flu-like symptoms should simply “go into quarantine, anyway it’s just after 7 to 10 days, actually [in just] 7 days you are clear.”

Gatchalian recalled in the DWIZ interview that around Wednesday last week he suddenly had an aching throat and an upper back pain, making him suspect it could be Covid, “That night, I had myself tested,” he added. And, because of the surge in people needed tests, he got his results after “almost a day and a half and I tested positive.”

“But early on I suspected Covid, so I was already in quarantine.”

This, he noted, happened even as he was “fully vaccinated.”

“I’m fully vaccinated but not yet boosted,” he explained adding that his second dose of AstraZeneca was done in late September.

Citing his experience, the Senator agreed with DWIZ that the Omicron variant was more potent than other strains of the corona virus.

“Almost two years this Covid has been with us. In fact, I constantly go out, I made some adjustments, but everyday I’m in the Senate and I also go around the vaccination sites,” Gatchalian recalled, agreeing with DWIZ he was able to dodge the other variants, but the Omicron strain was different.”

AVAO CITY—The Armed Forces of the Philippines’s Eastern Mindanao Command (Eastmincom) has turned the Navy’s prime ship into a floating hospital to cater to the medical evacuation and treatment of the survivors of super typhoon Odette.

In a belated report, the Eastmincom said its medical teams have utilized the BRP Ang Pangulo that was “converted into a floating hospital to cater to the medical needs of the typhoon survivors in Surigao City, Siargao Island and Dinagat Islands.”

“As more donations poured in, Eastmincom continues to utilize its air, naval and land assets to efficiently transport relief goods and construction materials that were dropped by various organizations and private individuals at its headquarters in Naval Station Felix Apolinario, Panacan, Davao City,” the AFP command said.

The Eastmincom has appealed for donations through its “Tulong Bayanihan para sa Sambayanan” program.

President Rodrigo Duterte has announced in the past that the BRP Ang Pangulo may be transformed into a hospital ship to aid wounded soldiers in an event of conflict.

The Eastmincom said that aside from the hospital ship, it used its other assets such as its helicopters to

airlift troops to help in construction works in damaged areas and to drop relief goods and medicines.

“Troops under the 52nd Engineer Brigade also helped in the rehabilitation of homes and other buildings that were destroyed by the typhoon, including the construction of temporary shelters for typhoon survivors,” it added.

The Joint Task Force “Sambisig” also conducted and continued its feeding programs, “give free haircuts, provide free medicines and supplements, set up charging stations and administer psychological first aid, art therapy for children, free medical consultations and wound suturing for the people.”

“Troops also continue to ferry stranded foreign and local tourists to help them travel back to their homes safe and sound,” It added.

Eastmincom Commander Lt. Gen. Greg T. Almerol expressed gratitude to organizations, companies and families “for their generosity and compassion for the people who were struck by Odette and continues to urge others to exhibit the spirit of giving by donating through the ‘Tulong Bayanihan para sa Sambayanan’ program.”

“Many of our countrymen were robbed of their homes but through your support and donations, we can help typhoon survivors rise above the challenge a little kindness at a time with newly-restored and resilient homes and a renewed hope for the future,” Almerol said.

Davao City govt office locked down vs Covid

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AVAO CITY—One government office here has been locked down and more of these pocket lockdowns would be applied anew due to rising cases of Covid-19 infections.

However, Michelle Schlosser, spokesman of the City Covid-19 Task Force, did not identify the government office. The physician added it was closed for operation since January 9 due to high infection among its personnel.

“As much as possible we would not do a total lockdown. We would be doing granular lockdown in areas with a significantly increasing number of cases. As of the moment, we implemented lockdown of an office starting last January 9 because of the high number of cases),” Schlosser said.

The city has been applying pocket lockdowns since last year: from

household to residential compounds and streets. It has not applied total lockdown. Mayor Sara DuterteCarpio has previously said that she was not amenable to closing down establishments or economic activities that were already allowed to open or operate.

From a daily average of infection of less than five in December, cases began to shoot rapidly by January 3 with 16 cases and positivity rate of five percent, to a high of 380 cases last Friday and a positivity rate of 33.

There was no confirmation yet of an omicron case and reports said cases were still local cases. During the last three days, however, residents who were stranded in Manila and overseas Filipinos were already among the positive cases here, raising suspicion of an omicron spread already. Manuel T. Cayon

BBM-Sara UniTeam headquarters resumes operations after 2-week closure

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HE BBM- Sa ra Un iTea m headquarters will resume operat ions on Mond ay, January 17, 2022, following a two-week closure after many staff and volunteers tested positive for Covid-19.

The resumption of HQ functions, however, will be limited to staff who tested negative in their RT-PCR tests.

“To avoid further health compli-

cations, NO WALK-IN in guests, non-staff and volunteers of parallel groups are allowed for now until further notice,” said BBM Chief of Staff, lawyer Vic Rodriguez.

In its previous announcement, the UniTeam reported that more than 30 staffers initially tested positive of Covid19, but this figure soon grew to 68 when a facility-wide RT-PCR test was conducted.

This prompted UniTeam presidential bet Ferdinand ‘Bongbong’ Marcos, Jr. to order the facility’s lockdown. Staffers and volunteers at that time were preparing and coordinating relief efforts for areas hit

by Super Typhoon Odette.

Before the closure, the UniTeam office had already prepared Covid19related items such as vitamins, face masks, face shields, and other medi-

cal supplies for distribution to hospitals and medical facilities.

Despite the setback, Rodriguez said the UniTeam would redouble its effort in sending the relief goods and Covid19 kits.

“We assure the public that professionals have thoroughly cleaned our offices. A strict health protocol is also in place to ensure that everyone working in the fa-

cility is safe,” stressed Rodriguez.

Staff members who reported for work had negative results in their RT-PCR tests done over the weekend, he added.

Rodriguez, who also got infected and has since made a full recovery, thanked well-wishers who posted messages encouraging the UniTeam when the temporary closure of the HQ was announced.

A4 Monday, January 17, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Organized Pinoys to Duterte: Veto pro-tobacco Vape law

By Bernadette D. Nicolas @BNicolasBM

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EMBERS of more than 60 civil society organizations have joined the call for President Duterte to veto the proposed Vape law as the bill contradicts the government’s policies to discourage vape use, especially among young Filipinos.

In a letter addressed to President Duterte and sent to Malacañang, the groups expressed their opposition to the proposed “Vaporized Nicotine Products Regulations (VNPR) Act.” In the letter, the groups decried the proposed bill as a toll “that would earn millions for the tobacco industry without consideration of the millions of lives at stake.”

The signatories also appealed to the President to exercise his veto power to scrap the bill in its entirety because the bill will relax restrictions on the use of vape and heated tobacco products.

The proposed bill is also expected to: lower the minimum age of access to such products from 21 years old to 18 years old; allow flavors of vaporized products in addition to plain tobacco and plain menthol that are targeted to the youth; allow sales to non-smokers; and, permit online sales and marketing.

The said bill would also pave the way for the replacement of the Food and Drugs Administration (FDA) as the lead regulatory agency.

Moreover, the signatories also pointed out that the president has passed laws including Republic Act (RA) 11467 and RA 11346. These laws raised excise taxes on novel tobacco products and introduced important regulatory measures to protect the youth from these substances.

The FDA was also mandated to be responsible for ensuring the safety of these products and the minimum age of access was increased to 21 years old.

Duterte also signed in 2020 Ex-

ecutive Order 106, which bans the manufacture, distribution, marketing and sale of unregistered e-cigarette products and expanded the ban on cigarette smoking in enclosed public areas to include vapes.

“In gist, these bills contradict the supposed intention of protecting the Filipino youth from addiction. Passing these bills is an utter disservice to the health, welfare and well-being of your constituents,” read the letter signed by representatives of different groups.

“Your administration is widely known for its strong stance against substance abuse. In this regard, we cannot allow nicotine abuse, likewise an addiction, to gain a foothold by loosening the regulation of vape products. We thus ask you, Mr. President, to veto the bill,” it added.

Last December, the Senate approved on third and final reading Senate Bill 2239 or “An Act Regulating the Importation, Manufacture, Sale, Packaging, Distribution, Use

and Communication of Vapor Products and Heated Tobacco Products.”

Meanwhile, the House of Representatives also approved on third and final reading the House Bill 9007 or “An Act Regulating the Manufacture, Use, Sale, Packaging, Distribution, Advertisement and Promotion of Electronic Nicotine and Non-Nicotine Delivery Systems, Heated Tobacco Products and Novel Tobacco Products.”

The Department of Health and the Philippine College of Physicians have earlier urged President Duterte to veto the vape bill.

The letter’s signatories included barangay health workers, sectoral organizations, urban poor communities and health advocacy groups.

Among the civil society organizations that signed the letter to President Duterte include Action for Economic Reforms, Action on Smoking and Health Philippines, Child Rights Network, Citizen’s Budget Tracker, Social Watch Philippines and Southeast Asia Tobacco Control Alliance.

OWWA to release P300M in aid to OFWs displaced from Saudi Arabia

By Samuel P. Medenilla @sam_medenilla

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HE Overseas Workers Welfare Administration (OWWA) announced it has allocated P300 million to provide cash aid to overseas Filipino workers (OFW) who were displaced from the Kingdom of Saudi Arabia (KSA).

OWWA Administrator Hans J. Cacdac said via Viber that the amount will be used for the implementation of a financial relief assistance package, or “FRAP,” which will give a one-time P10,000 cash assistance to qualified OFWs. To qualify for the program, the OFW must be among those who were repatriated from January 2016 to December 2019 due to the “economic downturn” KSA. The former OFWs should have already stayed in the country after being repatriated and have pending money claims from the Saudi court.

Relatives of the qualified OFWs, who already died, may also apply for the FRAP. Applicants must accomplish a an online application form, which could be accessed at http://frap. owwa.gov.ph// They must also submit a picture of their passport containing the personal details and the page containing the date of their repatriation from 2016 to 2019 as well as proof of their pending money claims from the Saudi court if they are not listed in OWWA’s registry.

Those qualified and with complete documentary requirements will get a SMS from the OWWA Regional Office on the date when they could claim their FRAP benefits check.

Labor and Employment Secretary Silvestre H. Bello III earlier said the OWWA Board of Trustees, which he chairs, decided to grant the FRAP due to the concerned OFWs due to the long delay in the release of their claims, some of which has been pending since 2016.

www.businessmirror.com.ph

Water to flow into farms, faucets in Negros, Davao

By Jonathan L. Mayuga @jonlmayuga

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4.6-million euro grant from the German government’s International Climate Initiative will secure drinking water for 500 households and irrigation to 3,000 hectares of agricultural land in Negros and Davao Region, the Department of Environment and Natural Resources (DENR) announced on Sunday.

The project “Ecosystem-based Adaptation in 2 River Basins” (E2RB) is a partnership project with the German-commissioned Deutsche Geselschaft fur Internationale Zusammenarbeit (GIZ). It will be implemented by the DENR through the River Basin Control Office (RBCO).

The project is due to begin implementation this year despite delays due to government measures to stem the Covid-19 infection.

According to RBCO Executive Director Nelson V. Gorospe, a “project management committee has already been created.”

“We can start implementation this year after some delays due to Covid 19,” Gorospe added.

The E2RB will be carried out in Ilog Hilabangan in Negros and Tagum Libuganon (mainly Davao del Norte) in Davao Region.

The E2RB will strengthen the river basins’ ecosystem services, protect their biodiversity and important, reduce their vulnerability to climate change as destructive flooding have been experienced in the river basins.

“One of the basis for the choice of the site is perennial flooding,” Gorospe said.

E2RB is in line with DENR’s program on Climate Change Adaptation

and Mitigation and Disaster Risk Reduction Roadmap 2018-2022. It also aligns with the Philippine Development Plan 2017-2022, Philippine Biodiversity Strategy and Action Plan and enhanced National Greening Program.

“The effective protection of forests in river basins supports the objectives of the Philippines’s ‘Intended Nationally Determined Contributions,’ or INDC, in the area of mitigation through the contribution of forest sector to the planned total greenhouse gas reduction of 70 percent in 2030,” according to the DENR-GIZ agreement.

The project’s target output include the coordinated implementation of ecosystem-based adaptation for reliable water supply, better water quality and optimized disaster risk management and targeted biodiversity protection.

The project also aims to ensure the use of ecosystem services valuation instruments in government policies, plans and monitoring procedures for conservation financing for protected area.

Lastly, 20 municipalities around the river basins should have reduced vulnerability to climate change with improved biodiversity protection (from landslide, flood risk in four watersheds reduced by 10 percent.

Another target output is the prevention or reduction of the extinction of important species in the forests in the river basins.

Among the threatened species in the Ilog Hilabangan watershed are hornbills (Penelopides panini and Aceros waldeni), the endangered Philippine spotted deer (Cervus alfredi) and the Philippine warty pig (Sus cebifrons).

Ormoc City LGU affirms renewable-energy path

By Lenie Lectura

CULVERT CURE

Portions of the southbound and northbound lanes of Roxas Boulevard in Manila would be closed for four months to allow for repair works on a 52-year old box culvert in front of the Libertad pumping station in Pasay City, the Metropolitan Manila Development Authority (MMDA) announced last Saturday. Once the first phase of the drainage repair works are completed, the MMDA said the northbound lane of Roxas Boulevard would be closed for two months to finish the project. ROY DOMINGO

DAR vows to resolve land issues of Pio Duran farmers

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HE Department of Agrarian Reform (DAR) has assured 76 farmers in Pio Duran town that their much-awaited land titles will finally be released after resolving a 15-year-old dispute put up by former land owners.

The DAR said the certificate of land ownership award (CLOAs) covering a total of 138 hectares formerly owned by Pablo Alsua and Amparo Buenviaje, and Ramon Alsua in Barnagays Marigondon and La Medalla in Pioduran, Albay, respectively are now being readied for distribution.

In a statement, Albay Agrarian Reform Chief Maria Eugenia M. Alteza said the DAR has finally completed the land acquisition process for the two parcels of Alsua landholdings in the said areas.

Alteza said the DAR finally corrected “documentation error” commuted by the agency, thus completing the acquisition of the 467-hectare property of the Alsuas under Republic Act 6657 or the Comprehensive Agrarian

Reform Program (CARP).

“The vast landholding had been placed under the Marcos regime’s Presidential Decree (PD) 27, or operation land transfer program.

It was erroneously covered under the name of Francisca Alsua-Betts,” she explained.

“Our investigation found that portions of the 467 hectares are above the 18 percent slope, thus not within the CARP coverage. Only 80 hectares are available for acquisition and will be distributed to 50 farmer beneficiaries,” Alteza added.

After clearing the investigation, she said the DAR issued an “order of finality” to cancel the Emancipation Patents (EPs) awarded earlier to the farmer-occupants of the non-CARPable areas.

Meanwhile, Alteza said another 26 agrarian reform beneficiaries will also benefit from the 58-hectare portions of the 207-hectare agri land owned by Ramon Alsua in La Medalla.

Said property was also previously covered under PD 27. The landowner

had been lobbying hard to withdraw the notice of coverage in 2005 to retain the property.

The DAR, however, proceeded with the acquisition of the land under CARP, excluding the portions discovered to be within the 20 to 45 percent slopes.

A Memo of Valuation was already issued on December 29, 2021 and is awaiting the Certificate of Deposit from LBP. Alteza assured the farmers of immediate possession of the land by the second quarter of this year. She noted that the land-acquisition process was not an overnight success.

“It was long and painstaking, but the DAR Albay personnel, together with the members of NIACIT, ignored the hardships. Instead, they persevered.”

In October last year, the team endured the blistering heat of the sun, traversing hilly and mountainous terrains, and even crossing a river just to finish the investigation and re-validation of the said properties in six days. Jonathan L. Mayuga

@llectura

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HE City Government of Ormoc in Leyte has solidified its stance toward pursuing renewable energy (RE) following the issuance of a resolution declaring it as an official policy in the city and encouraging the entire province to adopt it as well.

“The City of Ormoc shall continue to support clean and renewable energy projects and is strongly encouraging the distribution utility, Leyte Electric Co-operative V and those contestable customers duly-recognized by the Energy Regulatory Commission to secure their power requirement from clean and renewable energy sources,” the resolution stated.

The resolution was authored and filed by Sangguniang Panlungsod member Lalaine Marcos, who also heads the Ormoc City government’s committee on environment, natural resources and energy conservation.

The move met the full support of Ormoc City Mayor Richard Gomez.

The resolution cites Republic Act (RA) 9136 or the Electric Power Industry Reform Act of 2001, which declares as a state policy the promotion of the utilization of new, indigenous and renewable energy sources in power generation, as well as RA 9513 or the Renewable Energy Act of 2008, which encourages the development and utilization of RE in order to effectively reduce or prevent harmful emissions.

“With the undeniable consequences of climate change by way of the massively destructive typhoons

and natural disasters that we have been experiencing in the past years, going for more sustainable sources to sustain the energy needs of our local as well as national economy has become imperative,” Marcos said.

Ormoc City, in particular, is host to several RE power plants that generate clean, reliable power, contributing greatly to the electricity needs of the Visayas region. It is among 165 members of the Powering Past Coal Alliance convened during the UN Climate Summit COP26 in Glasgow, United Kingdom, in November last year. Summit participants committed to the domestic phase-out of coal and the acceleration of the global transition to clean energy.

“Consistent with these directives and ideals, the City of Ormoc prioritizes the utilization of clean, renewable energy, which is abundant in the province; to continuously protect and develop such renewable energy sources and, at the same time, shun operations and activities including sourcing and use of energy sources that are destructive to the environment and harmful to its citizens’ health and livelihood,” Gomez said.

The Tongonan geothermal project is the largest wet steam field in the Philippines located in Ormoc City and the nearby municipality of Kananga. It is the oldest and largest geothermal power plant of Lopezled Energy Development Corp. with a total plant capacity of more than 700 megawatts. Ormoc City also boasts of a number of solar, wind and hydroelectric power plants that complement its RE sources.

DTI, PhilDev Foundation launch two new programs to further stimulate start-up growth

T

HE Department of Trade and Industry announced it formally launched together with PhilDev Foundation the “Incubation, Development and Entrepreneurial Assistance,” or IDEA, and the “Accelerating Development, Valuation

and Corporate Entrepreneurship,” or “Advance” through a live info session conducted last January 12 via Facebook Live.

The startup ecosystem in the country accelerates forward despite the ongoing pandemic. As the world

requires new solutions and responses to the ever-changing consumer demands, technological startups are seen to be at the forefront of economic recovery and development.

“Along with MSMEs [micro, small and medium enterprises],

startups are the bedrock of the economy. Hence, supporting startups would be crucial to create a huge pipeline of quality startups.”

Undersecretary Rafaelita M. Aldaba emphasized.

The government intends to

mitigate startups’ issues and challenges by providing customized interventions and support such as coaching, mentoring, training and workshops through the Idea and Advance.

The DTI explained that IDEA is

for early-stage tech startups. The program encourages collaboration between startups, mentors, investors and the government to create market-ready innovative science and technology products and services.

The World BusinessMirror

Editor: Angel R. Calso

Monday, January 17, 2022

Covid-19, China, climate: Online Davos event tackles big themes B

A5

Microsoft: Malware attack on Ukraine govt networks

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ENEVA—The coronavirus pandemic has forced the World Economic Forum’s annual meeting of world leaders, business executives and other heavyweights to go virtual for the second year in a row, but organizers still hope to catapult the world into thinking about the future with a scaled-down online version this week.

The gathering, an online alternative to the event typically held in the Swiss ski town of Davos, will feature speeches by the leaders of countries including China, India, Israel, Japan and Germany as well as panel discussions with business, government and philanthropy figures like Dr. Anthony Fauci, the top US infectious disease expert who will talk about Covid-19, and Bill Gates and John Kerry, who are expected to discuss climate change.

Organizers still hope their plans for a larger in-person gathering can go ahead this summer.

Until then, here are five things to watch at next week’s online event:

China looms large President Xi Jinping, who hasn’t left China since the coronavirus emerged in early 2020, will be beamed in—just like last year— as perhaps the top headliner of the event.

He traditionally uses appearances at international gatherings like Davos to appeal for cooperation to fight climate change and the coronavirus and lambast what Beijing sees as US efforts to hold back China’s rise and dominate global governance.

In a speech Monday, Xi could well again tout changes that Beijing says are opening the state-

dominated economy and reject complaints that it wants to detach from international trade.

His comments reflect the ruling Communist Party’s desire for global influence to match China’s status as the second-largest economy.

Keep an eye out for any mention of self-ruled Taiwan, which China considers part of its territory and has threatened to attack, and claims to the South and East China Seas or parts of the Himalayas, which have kindled tension with its neighbors.

Modi’s mood One of those neighbors with tense ties to China is India, and Prime Minister Narendra Modi also takes the virtual floor Monday.

During the 8-year-old tenure of Modi, the star of the Hindu nationalist BJP party, India has seen an upswing in attacks against the Muslim minority. India’s political parties are gearing up for state elections, just two months after Modi’s government made a rare retreat on an agricultural reform bill that drew huge protests from farmers.

T he c a mpa ig n h a s d raw n crowds of tens of thousands, even as the Omicron variant, like elsewhere, has driven a surge in Covid-19 cases.

File picture taken Jan. 24, 2021 shows a police security guard on the roof of a hotel ahead of the World Economic Forum in Davos, Switzerland. AP Photo/Markus Schreiber

Hoping for a post-Covid world It’s impossible for the Davos crowd to overlook the health crisis that has upended its plans for the last two years.

The pandemic gets a top billing on Monday, with Fauci and the CEO of vaccine maker Moderna joining a panel discussion that addresses what’s next for Covid-19, which has taken several big turns as the Omicron variant sweeps the globe.

On Tuesday, World Health Organization chief Tedros Adhanom Ghebreyesus is certain to promote his often-repeated call for greater vaccine equity at a panel on the subject. Many developing countries remain far behind their rich counterparts when it comes to access to vaccines. WHO says greater vaccine equity can help prevent the emergence of worrisome, highly transmissible variants like Omicron.

Tech on tap Climate change and energy— along with a regional look at Latin America—get top billing Wednesday, with a speech by the Saudi energy minister and a look at how the world transitions from its dependence on fossil fuels. Kerry,

the special envoy for climate under US President Joe Biden, joins Davos stalwart Gates—recent author of “How to Avert a Climate Disaster”—on a panel on climate innovation.

Technology, trade and the economy True to its name, the economic forum never strays far from the world of business activity. The week rounds out with discussions on issues like capitalism for a sustainable future, trade at a time of strained global supply chains, and how government actions are needed to produce sustainable and equitable recovery after the pandemic.

US Treasury Secretary Janet Yellen gets the last word Friday with a talk at the virtual forum, where she has an opportunity to promote President Joe Biden’s plans to reengage globally to prevent new environmental catastrophes. Amid the pandemic and rapidly rising inflation, the former Federal Reserve chair also could touch on financial recovery efforts, the administration’s $1 trillion infrastructure law and her support for a global corporate minimum tax agreed to by more than 130 countries. AP

OSTON—Microsoft said late Saturday that dozens of computer systems at an unspecified number of Ukrainian government agencies have been infected with destructive malware disguised as ransomware, a disclosure suggesting an attention-grabbing defacement attack on official web sites was a diversion. The extent of the damage was not immediately clear.

The attack comes as the threat of a Russian invasion of Ukraine looms and diplomatic talks to resolve the tense stand-off appear stalled.

Microsoft said in a short blog post that amounted to the clanging of an industry alarm that it first detected the malware on Thursday.

That would coincide with the attack that simultaneously took some 70 government web sites temporarily offline.

The disclosure followed a Reuters report earlier in the day quoting a top Ukrainian security official as saying the defacement was indeed cover for a malicious attack.

Separately, a top private sector cybersecurity executive in Kyiv told The Associated Press how the attack succeeded: The intruders penetrated the government networks through a shared software supplier in a socalled supply-chain attack in the fashion of the 2020 SolarWinds Russian cyberespionage campaign targeting the US government.

Microsoft said in a different technical post that the affected systems “span multiple government, nonprofit, and information technology organizations.” It said it did not know how many more organizations in Ukraine or elsewhere might be affected but said it expected to learn of more infections.

“The malware is disguised as ransomware but, if activated by the attacker, would render the infected computer system inoperable,” Microsoft said. In short, it lacks a ransom recovery mechanism.

Microsoft said the malware “executes when an associated device is powered down,” a typical initial reaction to a ransomware attack.

Microsoft said it was not yet able to assess the intent of the destructive activity or associate the attack with any known threat actors. The Ukrainian security official, Serhiy Demedyuk, was quoted by Reuter s as saying the attackers used malware similar to that used by Russian intelligence. He is deputy secretary of

the National Security and Defense Council.

A preliminary investigation led Ukraine’s Security Service, the SBU, to blame the web defacement on “hacker groups linked to Russia’s intelligence services.” Moscow has repeatedly denied involvement in cyberattacks against Ukraine.

Tensions with Russia have been running high in recent weeks after Moscow amassed an estimated 100,000 troops near Ukraine’s border. Experts say they expect any invasion would have a cyber component, which is integral to modern “hybrid” warfare.

Demedyuk told Reuters in written comments that the defacement “was just a cover for more destructive actions that were taking place behind the scenes and the consequences of which we will feel in the near future.” The story did not elaborate and Demedyuk could not immediately be reached for comment.

Oleh Derevianko, a leading private sector expert and founder of the ISSP cybersecurity firm, told the AP he did not know how serious the damage was. He said also unknown is what else the attackers might have achieved after breaking into KitSoft, the developer exploited to sow the malware.

In 2017, Russia targeted Ukraine with one of the most damaging cyberattacks on record with the NotPetya virus, causing more than $10 billion in damage globally. That virus, also disguised as ransomware, was a so-called “wiper” that erased entire networks.

Ukraine has suffered the unfortunate fate of being the world’s proving ground for cyberconflict.

Russia state-backed hackers nearly thwarted its 2014 national elections and briefly crippling parts of its power grid during the winters of 2015 and 2016.

In Friday’s mass web defacement, a message left by the attackers claimed they had destroyed data and placed it online, which Ukrainian authorities said had not happened.

The message told Ukrainians to “be afraid and expect the worst.”

Ukrainian cybersecurity professionals have been fortifying the defenses of critical infrastructure since 2017, with more than $40 million in US assistance. They are particularly concerned about Russian attacks on the power grid, rail network and central bank. AP

Expect more worrisome variants after Omicron, scientists warn Johnson’s still UK prime minister,

By Laura Ungar AP Science Writer

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et ready to learn more Greek letters. Scientists warn that Omicron’s whirlw ind advance practically ensures it won’t be the last version of the coronavirus to worry the world.

Every infection provides a chance for the virus to mutate, and Omicron has an edge over its predecessors: It spreads way faster despite emerging on a planet with a stronger patchwork of immunity from vaccines and prior illness.

That means more people in whom the virus can further evolve. Experts don’t know what the next variants will look like or how they might shape the pandemic, but they say there’s no guarantee the sequels of Omicron will cause milder illness or that existing vaccines will work against them.

They urge wider vaccination now, while today’s shots still work.

“The faster Omicron spreads, the more opportunities there are for mutation, potentially leading to more variants,” Leonardo Martinez, an infectious disease epidemiologist at Boston University, said.

Since it emerged in mid-November, Omicron has raced across the globe like fire through dry grass.

Research shows the variant is at least twice as contagious as Delta and at least four times as contagious as the original version of the virus.

Omicron is more likely than Delta to reinfect individuals who previously had Covid-19 and to cause “breakthrough infections” in vaccinated people while also attacking the unvaccinated. The World Health Organization reported a record 15 million new Covid-19 cases for the

week of Jan. 3-9, a 55% increase from the previous week.

Along with keeping comparatively healthy people out of work and school, the ease with which the variant spreads increases the odds the virus will infect and linger inside people with weakened immune systems -- giving it more time to develop potent mutations.

“It’s the longer, persistent infections that seem to be the most likely breeding grounds for new variants,” said Dr. Stuart Campbell Ray, an infectious disease expert at Johns Hopkins University. “It’s only when you have very widespread infection that you’re going to provide the opportunity for that to occur.”

Because Omicron appears to cause less severe disease than Delta, its behavior has kindled hope that it could be the start of a trend that eventually makes the virus milder like a common cold.

It’s a possibility, experts say, given that viruses don’t spread well if they kill their hosts very quickly.

But viruses don’t always get less deadly over time.

A variant could also achieve its main goal—replicating—if infected people developed mild symptoms initially, spread the virus by interacting with others, then got very sick later, Ray explained by way of example.

“People have wondered whether the virus will evolve to mildness.

But there’s no particular reason for it to do so,” he said. “I don’t think we can be confident that the virus will become less lethal over time.”

Getting progressively better at evading immunity helps a virus to survive over the long term. When SARS-CoV-2 first struck, no one was immune. But infections and vaccines have conferred at least some

immunity to much of the world, so the virus must adapt.

There are many possible avenues for evolution. Animals could potentially incubate and unleash new variants. Pet dogs and cats, deer and farm-raised mink are only a few of the animals vulnerable to the virus, which can potentially mutate within them and leap back to people.

Another potential route: With both Omicron and Delta circulating, people may get double infections that could spawn what Ray calls “Frankenvariants,” hybrids with characteristics of both types.

When new variants do develop, scientists said it’s still very difficult to know from genetic features which ones might take off. For example, Omicron has many more mutations than previous variants, around 30 in the spike protein that lets it attach to human cells. But the so-called IHU variant identified in France and being monitored by the WHO has 46 mutations and doesn’t seem to have spread much at all.

To curb the emergence of variants, scientists stress continuing with public health measures such as masking and getting vaccinated. While Omicron is better able to evade immunity than Delta, experts said, vaccines still offer protection and booster shots greatly reduce serious illness, hospitalizations and deaths.

Anne Thomas, a 64-year-old IT analyst in Westerly, Rhode Island, said she’s fully vaccinated and boosted and also tries to stay safe by mostly staying home while her state has one of the highest Covid-19 case rates in the US. “I have no doubt at all that these viruses are going to continue to mutate and we’re going to be dealing with this for a very long time,”

she said.

Ray likened vaccines to armor for humanity that greatly hinders viral spread even if it doesn’t completely stop it. For a virus that spreads exponentially, he said, “anything that curbs transmission can have a great effect.” Also, when vaccinated people get sick, Ray said their illness is usually milder and clears more quickly, leaving less time to spawn dangerous variants.

Experts say the virus won’t become endemic like the flu as long as global vaccination rates are so low. During a recent press conference, WHO Director-General Tedros Adhanom Ghebreyesus said that protecting people from future variants—including those that may be fully resistant to today’s shots—depends on ending global vaccine inequity.

Tedros said he’d like to see 70% of people in every country vaccinated by mid-year. Currently, there are dozens of countries where less than a quarter of the population is fully vaccinated, according to Johns Hopkins University statistics. And in the United States, many people continue to resist available vaccines.

“These huge unvaccinated swaths in the US, Africa, Asia, Latin America and elsewhere are basically variant factories,” said Dr. Prabhat Jha of the Centre for Global Health Research at St. Michael’s Hospital in Toronto. “It’s been a colossal failure in global leadership that we have not been able to do this.”

In the meantime, new variants are inevitable, said Louis Mansky, director of the Institute for Molecular Virology at the University of Minnesota.

With so many unvaccinated people, he said, “the virus is still kind of in control of what’s going on.” AP

but he’s become a laughing stock

I

f Boris Johnson is forced to stand down as UK prime minister, the tipping point may prove to be the moment when anger turned to mockery over the now-notorious pandemic parties at No. 10.

A rebellion is gathering steam within his Tory party as a growing number of his own lawmakers join opposition leader Keir Starmer in urging him to step aside. Perhaps more damaging for the prime minister’s authority, much of the country has spent the weekend laughing at him.

Comedy was an essential part of the package throughout Johnson’s frequently chaotic rise to power.

Now the British are training their humor on the prime minister’s increasingly desperate attempts to explain away the apparent hypocrisy of an administration that held boozy office parties while ordering everyone else into lockdown.

The past week brought a string of revelations about revelr y at Johnson’s workplace and official residence during the depths of the 2020 coronavirus restrictions.

While regular people were prevented from socializing—or, in some cases, even visiting dying relatives—staff in Johnson’s office held regular endof-week happy hours.

A wine fridge was even purchased to facilitate the “bring your own booze” gatherings, and Johnson, according to the Daily Mirror, was known to stop by to chat on the way to his private quarters.

When Johnson on Wednesday told Parliament he’d joined staff drinking in his garden after hours in May 2020, he said he’d understood he was at a work event.

‘Lockdown prices’

One video posted Friday on Twitter, showed dozens of protesters dancing outside the prime minister’s residence in dark suits, Boris Johnson face masks and tousled blond wigs.

“My name is Boris, I like to party.” It was viewed almost 3 million times.

Satirical reviews popped up for the central London store where Johnson’s staff reportedly stocked up on liquor, with one joker saying they’d bought “great wine at lockdown prices.”

Political satire has long been a weapon of the British liberal elite— from 18th century cartoons mocking King George III to Private Eye magazine skewering the 1960s establishment, or the grotesque puppets of 1980s TV show “Spitting Image” which attacked political and royal figures alike.

In the past, Johnson has managed to laugh off his numerous gaffes to keep his career on track.

But when such criticism captures the public mood, it can sometimes be lethal.

The big joke

The primetime comedy duo of Ant & Dec, full names Anthony McPartlin and Declan Donnelly, have been hammering Johnson since the earliest reports of a 2020 Downing Street Christmas party came to light a month ago.

“This fictional party definitely didn’t involve cheese and wine,” Ant said while presenting an episode of “I’m a Celebrity...Get Me Out of Here.” “Or a Secret Santa.”

Dec took it a step further. “Evening Prime Minister,” he said. “For now.” AP

A6

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Monday, January 17, 2022

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Headed to disaster? US, Russia harden stances in talks

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ASHINGTON—The failure of last week’s high-stakes diplomatic meetings to resolve escalating tensions over Ukraine has put Russia, the United States and its European allies in uncharted postCold War territory, posing significant challenges for the main players to avoid an outright and potentially disastrous confrontation.

Unlike previous disagreements that have arisen since the collapse of the Soviet Union, the current Ukraine crisis and seemingly insurmountable differences between Washington and Moscow carry real risks of debilitating economic warfare and military conflict that are exacerbated by the dangers of miscalculation and overreaction.

For the US and its NATO and other European allies, nothing less than a vast pullback of the roughly 100,000 Russian troops now deployed near the Ukrainian border will prove that Russian President Vladimir Putin has any intention of negotiating in good faith. For the Russians, the West’s absolute refusal to consider a ban on NATO expansion and the withdrawal of troops from Eastern Europe is proof of its perfidy.

Potential concessions are complicated by the fact neither Putin nor President Joe Biden wants to be seen as backing down before either

domestic or foreign audiences.

The refusal thus far by each side to climb down from what the other regards as unrealistic and maximalist demands has left the prospects for diplomacy in limbo, with the US and its allies accusing Russia of stoking tensions for no legitimate reason and the Russians complaining again that the Americans are the aggressors.

Some believe the situation will have to become even direr before the impasse can be broken.

“The gap in perceptions is so broad that a new and dangerous escalation could be necessary to make the parties open up their imagination and search for agreements,” Fyodor Lukyanov, the head of the Moscow-based Council for Foreign and Defense Policies, observed in a commentary.

For Western analysts, it seems a situation in which Putin will have to compromise if conflict is to be

A Russian tank T-72B3 fires as troops take part in drills at the Kadamovskiy firing range in the Rostov region in southern Russia on Jan. 12, 2022. The failure of last week’s high-stakes diplomatic meetings to resolve escalating tensions over Ukraine has put Russia, the United States and its European allies in uncharted post-Cold War territory. AP Photo

avoided. Some think Putin’s focus on NATO, which has struggled for years with questions about its relevance, may have given the alliance a new lease on life.

“This is an extremely uncertain and tense period without an obvious way out unless Putin backs down,” said Jeff Rathke, a Europe expert and former US diplomat who is currently president of the American Institute for Contemporary German Studies at Johns Hopkins University.

“He’s talked himself into a frenzy that is hard to walk away from if he doesn’t get the fundamental redrawing of the European security architecture that he claims to want. He’s shown he’s ready to play chicken with the threat of massive military force to bring that about and he’s certainly gotten everyone’s attention, but he hasn’t changed anyone’s views,” Rathke said.

US officials from Biden, Secretary of State Antony Blinken and

national security adviser Jake Sullivan to chief negotiator Wendy Sherman have said it is Russia that faces a “stark choice.” De-escalate or face punishing sanctions and the opposite of what it wants: an increased NATO presence in Eastern Europe and a more well armed Ukraine.

Yet in Russia, officials say the shoe is on the other foot. They have cast their demands as an “absolute imperative” and have argued that the Western failure to meet them makes talks on other issues irrelevant.

Kremlin spokesman Dmitry Peskov said the US and Russia reached “some understandings” during last week’s talks. “But in general, in principle, we can now say that we are staying on different tracks, on totally different tracks, and this is not good, and this is disturbing,” he said in an interview on CNN’s “Fareed Zakaria GPS” to be broadcast on Sunday.

Foreign Minister Sergey Lavrov

Hostages safe after standoff in synagogue; captor dead

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OLLEYVILLE, Texas—Hostages who had been held for hours inside a Texas synagogue were rescued Saturday night, according to Gov. Greg Abbott, bringing an end to a standoff that had lasted nearly 12 hours.

“Prayers answered. All hostages are out alive and safe,” Abbott tweeted.

Abbott’s tweet came not long after a loud bang and what sounded like gunfire was heard coming from the synagogue, where authorities said a man had held people captive as he demanded the release of a Pakistani neuroscientist who was convicted of trying to kill US Army officers in Afghanistan.

T he hostage-taker was later declared dead, according to a law enforcement official who spoke to The Associated Press on the condition of anonymity. Details of the rescue or the man’s death were not immediately released.

At least four hostages were initially believed to be inside the synagogue, according to three law enforcement officials who were not authorized to discuss the ongoing investigation and who spoke to the AP on the condition of anonymity.

The synagogue’s rabbi was believed to be among the hostages, one of the officials said. One of the officials

said the man claimed to be armed but authorities had not confirmed whether he was.

The Colleyville Police Department said one hostage was released uninjured shortly after 5 p.m. Saturday. The man was expected to be reunited with his family and did not require medical attention. A law enforcement official said the first hostage who was released was not the rabbi.

Authorities are still trying to discern a precise motive for the attack. The hostage-taker was heard demanding the release of Aafia Siddiqui, the Pakistani neuroscientist suspected of having ties to al-Qaida, the officials said. He also said he wanted to be able to speak with her, according to the officials. Siddiqui is in federal prison in Texas.

The officials said investigators have not positively identified the man and cautioned that the information was based on a preliminary investigation.

A rabbi in New York City received a call from the rabbi believed to be held hostage in the synagogue to demand Siddiqui’s release, a law enforcement official said. The New York rabbi then called 911.

Police were first called to the synagogue around 11 a.m. and people were evacuated from the sur-

rounding neighborhood soon after that, FBI Dallas spokesperson Katie Chaumont said.

T he ser v ices were being livestreamed on the synagogue’s Facebook page for a time. The Fort Worth Star-Telegram reported that an angry man could be heard ranting and talking about religion at times during the livestream, which didn’t show what was happening inside the synagogue.

Shortly before 2 p.m., the man said, “You got to do something. I don’t want to see this guy dead.”

Moments later, the feed cut out. A Meta company spokesperson later confirmed that Facebook removed the video.

Multiple people heard the hostage-taker refer to Siddiqui as his “sister” on the livestream, but Faizan Syed, the executive director of Council on American-Islamic Relations in Dallas Fort-Worth Texas, told The Associated Press that Siddiqui’s brother, Mohammad Siddiqui, was not involved. Syed said CAIR’s support and prayers were with the people being held in the synagogue.

Texas resident Victoria Francis told the AP that she watched about an hour of the livestream before it cut out. She said she heard the man rant against America and claim he

Woman dies in subway shove at Times Square

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EW YORK—A woman was pushed to her deat h in front of a subway train at the Times Square station Saturday, police said, a little more than a week after the mayor and governor announced plans to boost subway policing and outreach to homeless people in New York City’s streets and trains.

The man believed responsible fled the scene but turned himself in to transit police a short time later, Police Commissioner Keechant Sewell said at a news conference with Mayor Eric Adams at the station.

The 40-year-old victim, identified as Michelle Alyssa Go of New York, was waiting for a southbound R train around 9:40 a.m. when she was apparently shoved, according to police.

“This incident was unprovoked, and the victim does not appear to have had any interaction with the subject,” Sewell said.

A second woman told police the

man had approached her minutes earlier and she feared he would push her onto the tracks.

“He approaches her and he gets in her space. She gets very, very alarmed,” Assistant Chief Jason Wilcox said, describing the earlier encounter. “She tries to move away from him and he gets close to her, and she feels that he was about to physically push her onto the train.

As she’s walking away she witnesses the crime where he pushes out other victim in front of the train.”

Police on Saturday night identified the suspect as 61-year-old Simon Martial. Martial, who police said is homeless, was charged with second-degree murder. It was not immediately known whether he had an attorney who could comment.

Wilcox said Martial has a criminal history and has been on parole.

“He does have in the past three emotionally disturbed encounters with us that we have documented,” he said.

Subway conditions and safety have become a worry for many New Yorkers during the pandemic. Although police statistics show major felonies in the subways have dropped over the past two years, so has ridership, making it difficult to compare.

And some recent attacks have gotten public attention and raised alarms. In September, three transit employees were assaulted in separate incidents on one day. Several riders were slashed and assaulted by a group of attackers on a train in lower Manhattan in May, and four separate stabbings—two of them fatal—happened within a few hours on a single subway line in February.

In recent months there have been several instances of people being stabbed, assaulted or shoved onto the tracks at stations in the Bronx, Brooklyn and at Times Square.

Saturday’s attack against Go, who was of Asian descent, also raised concerns amid a rise in anti-Asian hate crimes in New York and around

had a bomb.

“He was just all over the map. He was pretty irritated and the more irritated he got, he’d make more threats, like ‘I’m the guy with the bomb. If you make a mistake, this is all on you.’ And he’d laugh at that,” she said. “He was clearly in extreme distress.”

Francis, who grew up near Colleyville, tuned in after she read about the hostage situation. She said it sounded like the man was talking to the police department on the phone, with the rabbi and another person trying to help with the negotiations.

Col ley v il le, a communit y of about 26,000 people, is about 15 miles (23 kilometers) northeast of Fort Worth. The synagogue is nestled among large houses in a leaf y residential neighborhood that includes several churches, a middle and elementary school and a horse farm.

Congregation Beth Israel is led by Rabbi Charlie Cytron-Walker, who has been there since 2006 as the synagogue’s first full-time rabbi. He has worked to bring a sense of spirituality, compassion and learning to the community, according to his biography, and he loves welcoming everyone, including LGBT people, into the congregation. AP the country. Police officials said the killing, including whether it was a hate crime, was under investigation, but noted that the first woman Martial allegedly approached was not Asian. Martial is Black.

“This latest attack causing the death of an Asian American woman in the Times Square subway station is particularly horrifying for our community,” Margaret Fung, executive director of the Asian American Legal Defense and Education Fund, said. She said the community was still mourning the Dec. 31 death of Yao Pan Ma, a Chinese immigrant who was attacked in April while collecting cans in East Harlem.

“These attacks have left Asian Americans across the city and across the country feeling vulnerable and they must stop,” Fung said in a statement.

Adams, who has been mayor for two weeks, has noted that a perception of danger could drive more people to eschew the subway, complicating the city’s economic recovery as it tries to draw people back to offices, tourist attractions and more. AP

said Friday that Russia had vainly tried for years to persuade the US and its allies to engage in talks on the non-deployment of intermediaterange missiles to Europe, limits on war games and rules to avoid dangerously close encounters between Russian and allied warships and aircraft until the US and NATO expressed willingness to discuss those issues this week.

He attributed the change in approach to a US desire to shift attention away from Russia’s main demands, adding that Moscow will focus on NATO non-expansion. And he insisted that it’s the US that’s formulating the position in talks while other allies just march on its orders.

“To be frank, everyone understands that the prospect for reaching a deal depends on the US,” Lavrov said. He said whatever the US says about the need to consult allies in negotiations “are just excuses and attempts to drag the process out.”

Thus, the stalemate.

The West’s approach has been to have “as much diplomatic effort as possible to de-escalate,” said Andrew Weiss, vice president for studies at the Carnegie Endowment for International Peace, where he oversees research in Washington and Moscow on Russia and Eurasia.

“The problem we’ve got is that the Russians mean business, and they’ve shown us in a bunch of cases, in 2014, in 2008, that they’re prepared to go to war to get these things, and we’re not,” he said. “And that’s the challenge.”

The tough and uncompromising Russian positions have led some to believe that Moscow will only up the ante after receiving what all sides ex-

pect will be formal, written refusals from the US and NATO to accede to its demands.

Indeed, the chief Russian negotiator in the talks, Deputy Foreign Minister Sergei Ryabkov, suggested Thursday that Moscow might respond to rejections by escalating matters outside of Europe through the potential deployment of troops to Cuba and Venezuela. The US has called such a suggestion “bluster” and said it would respond decisively if it happened.

“The lack of a diplomatic solution logically leads to the further exacerbation of the crisis,” wrote Dmitri Trenin, the head of the Carnegie Moscow Center, in an online analysis.

Trenin predicted that a set of “military-technical measures” that Putin said Russia would take if the West rejects its demands could include “a broad array of moves... from the deployment of new weapons systems in various regions to much stronger military ties with Belarus and a closer coordination with the Chinese partners.”

Still, there’s a risk that by focusing his ire on NATO, Putin may have inadvertently strengthened its hand, especially with its newer members like the Baltic states, Hungary, Poland and the Czech Republic.

“For countries that have joined NATO since the Cold War, you can definitely say that NATO is more relevant to them now than it was a year ago or in 2014,” Rathke said.

“Anyone who thought that NATO was no longer relevant to European security has been taught a lesson in the last few months. And it’s only going to get worse.” AP

A closer look at the case of Aafia Siddiqui, jailed al-Qaida operative

W

ASHINGTON—The man who authorities say was holding hostages inside a Texas synagogue on Saturday demanded the release of a Pakistani woman who is imprisoned nearby on charges of trying to kill American service members in Afghanistan.

The woman, Aafia Siddiqui, is serving an 86-year prison sentence after being convicted in Manhattan in 2010 on charges that she sought to shoot US military officers while being detained in Afghanistan two years earlier.

For the Justice Department, which had accused Siddiqui of being an alQaida operative, it was a significant conviction in the fight against international extremism. But to her supporters, many of whom believed in her innocence, the case embodied what they saw as an overzealous post Sept. 11-American judicial system.

Here’s a closer look at the case:

Who is Aafia Siddiqui:

She’s a Pakistani neuroscientist who studied in the United States at prestigious institutions—Brandeis University and the Massachusetts Institute of Technology.

She attracted the attention of American law enforcement in the years after the Sept. 11 attacks. Top FBI and Justice Department described her as an “al-Qaida operative and facilitator” at a May 2004 news conference in which they warned of intelligence showing al-Qaida planned an attack in the coming months.

In 2008, she was detained by authorities in Afghanistan. American officials said they found in her possession handwritten notes that discussed the construction of so-called “dirty bombs” and that listed various locations in the US that could be targeted in a “mass casualty attack.”

Inside an interview room at an Afghan police compound, authorities say, she grabbed the M-4 rifle of a US Army officer and opened fire on members of the US team assigned to interrogate her.

She was convicted in 2010 on charges including attempting to kill US nationals outside the United States. At her sentencing hearing, she gave rambling statements in which she delivered a message of world peace—and also forgave the judge.

She expressed frustration at arguments from her own lawyers who said she deserved leniency because she was mentally ill.

“I’m not paranoid,” she said at one point. “I don’t agree with that.”

What was the reaction?

Pakistani officials immediately decried the punishment, which prompted protests in multiple cities and criticism in the media.

The prime minister at the time, Yousuf Raza Gilani, called her the “daughter of the nation” and vowed to campaign for her release from jail.

In the years since, Pakistani leaders have openly floated the idea of swaps or deals that could result in her release.

Faizan Syed, Executive Director of the Council on American-Islamic Relations in Dallas Fort-Worth Texas, said the group considers Siddiqui to have been “caught in the war on terror” and as well as a political prisoner who was wrongly accused through f lawed evidence. He nonetheless strongly condemned the hostagetaking, calling it wrong, heinous and “something that is completely undermining our efforts to get Dr. Aaifa released.”

She has also garnered support from accused militants in the United States. An Ohio man who admitted he plotted to kill US military members after receiving training in Syria also planned to fly to Texas and attack the federal prison where Siddiqui is being held in an attempt to free her.

The man, Abdirahman Sheik Mohamud, was sentenced in 2018 to 22 years in prison.

What’s the latest on Siddiqui’s imprisonment?

Siddiqui is being held at a federal prison in Fort Worth, Texas. She was attacked in July by another inmate at the facility and suffered serious injuries, according to court documents.

In a lawsuit against the federal Bureau of Prisons, Siddiqui’s lawyers said another inmate “smashed a coffee mug filled with scaling hot liquid” into her face. When Siddiqui curled herself into a fetal position, the other woman began to punch and kick her, leaving her with injuries so severe that she needed to be taken by wheelchair to the prison’s medical unit, the suit says.

Siddiqui was left with burns around her eyes and a three-inch scar near her left eye, the lawsuit says. She also suffered bruises on her arms and legs and an injury to her cheek.

The attack prompted protests by human rights activists and religious groups, calling for improved prison conditions. The activists have also called on the Pakistani government to fight for her release from US custody. AP

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Editor: Jennifer A. Ng • Monday, January 17, 2022 A7

PHL wants to hike octopus output, exports

By Jasper Emmanuel Y. Arcalas @jearcalas

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HE Philippines is aiming to increase its production and exports of octopus via the rollout of a national management framework plan, which seeks to protect the country’s octopus resources.

Agriculture Secretary William D. Dar has ordered the implementation of the government’s octopus national management framework plan (OCT-NMFP) nationwide. Dar has issued memorandum circular (MC) 29, which formalizes the implementation of the OCT-NMFP starting this year.

Under the MC, the Bureau of Fisheries and Aquatic Resources (BFAR) and its regional field offices will incorporate into their plans the actions identified in the OCT-NMFP 2022-2026.

Dar also encouraged all stakeholders in the octopus value chain, including fishers, buyers, processors,

exporters and traders, to support the implementation of the OCT-NMFP, including its “co-financing fishery improvement and sustainability projects.”

“Similarly, I also call on the local government units and other relevant international development organizations/programs, national government agencies, and non-government organizations to take on their equally important roles in the successful implementation of the OCT-NMFP.” Dar said it is imperative for the government to implement the OCTNMFP, which serves as a roadmap and policy direction for the octopus industry, “given the economic and biodiversity significance of octopus.” He noted that local octopus production is facing a lot of threats that are detrimental to its growth and development.

“The Philippines is a major producer of octopus, thus, generating livelihoods for rural municipal or artisanal fishermen and consolida-

tors, and providing viable business enterprise for octopus processors and export companies,” he said.

“The Philippine octopus is an important but data-deficient commodity that faces several problems and management issues, including: unregulated fishing efforts, declining catch rates, juvenile catches, and potentially destructive methods practiced by octopus gatherers in certain areas.”

Under the MC, Dar directed the BFAR and concerned stakeholders “to institutionalize participative commodity platforms for the sustainable management of the octopus.”

He has also instructed the Octopus Technical Working Group and stakeholders to conduct a mid-term review on the implementation of the OCT-NMFP. The OCT-NMFP was crafted through a “widely participatory process” involving multiple stakeholders and integrates the princi-

ples of an ecosystem approach to fisheries management, which seeks to balance environmental and socioeconomic concerns through improved governance.

“The OCT-NMFP provides a strategic plan for the conservation, proper utilization, fisheries development, and protection of critical life stages of octopus, while maximizing the socioeconomic benefits from this valuable marine commodity,” the blueprint read.

The OCT-NMFP noted that octopus production data in the country are “very limited” with no detailed information or breakdown at the local and regional level. The blueprint indicated that octopus output is not presented in either the annual BFAR Fishery Profiles or the Philippine Statistics Authority database.

Citing data from the Food and Agriculture Organization of the United Nations, the OCT-NMFP noted that octopus production in

the country has been on the decline in recent years.

“The Philippines’s octopus production since 1970 had undergone large fluctuations with a generally declining trend toward 2019,” the blueprint read.

“Export data plotted on the same timeline show an increasing trend in octopus export until 2001 but went on a progressive decline then large fluctuations between 2011 and 2018,” it added.

The OCT-NMFP said there was an “apparent data anomaly” between the country’s octopus production and export. Octopus exports from 1997 to 2011 were higher than the country’s output “suggesting either data inaccuracies or entry of illegal and undocumented products into processing plants.”

Aside from data-deficient systems, the octopus industry also had to grapple with destructive fishing methods and the lack of a fisheries management regime, according to

the OCT-NMFP. “It is clear that management of the Philippines’s octopus resources is urgent and necessary to sustain the export industry and the various links in the supply chain,” it said.

“The virtual absence of management of octopus resources poses a threat to these essential export resources potentially in the short term.”

The goals identified in the OCT-NMFP include the profiling of octopus fishing areas this year and the conduct of a resource and habitat vulnerability assessment by next year.

The government will also establish various benchmarks and parameters by 2024—reliable science and biological information to determine harvest control rules; size/ weight at first maturity to reduce catching of undersized octopus; expansion of marine protected areas; database for aquaculture research and development.

DA will back passage of livestock development bill—Medrano ‘High pork prices burden

millions of Filipino families’

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HE Department of Agriculture (DA) said it will support the passage of a bill that seeks to improve the competitiveness of domestic meat producers and corn farmers.

In a recent Senate hearing, Agriculture Undersecretary William C. Medrano said the department, particularly its livestock-related units, supports the proposed livestock development and competitiveness (LDC) bill, which will be filed by senators soon.

The LDC bill is the result of a six-month study commissioned by the government to benchmark the competitiveness of the country’s livestock, poultry and dairy industries against neighboring Southeast Asian countries to find out how policymakers can improve domestic production and lower meat prices.

“The DA livestock agencies express [their] sincere appreciation to Sen. Cynthia Villar, together with all the other senators for their profound concern in the development of the livestock and poultry industry through SB [Senate Bill] 139 and other related SBs,” Medrano said.

“With the serious challenge confronting the sector today, we perceive that this legislative light is very timely and critical to the overall and rapid development of the livestock and poultry industry.”

In particular, Medrano said the livestock agencies of the government, which he oversees, “strongly supports” the plowing back of duties and tariffs collected from imported animal and dairy products into the development of the local livestock, poultry and dairy (LPD) industries.

Under the LDC bill, the government will establish two funds that would bank-roll programs aimed at improving the competitiveness of the LPD and corn sectors—the livestock competitiveness enhancement fund (LCEF) and the corn competitiveness enhancement fund (CCEF).

LCEF and CCEF are patterned

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BLOOMBERG NEWS

after the rice competitiveness enhancement fund created by the rice trade liberalization (RTL) law which consists of rice tariff collections and is earmarked for the development of the domestic rice industry.

“The livestock agencies strongly support the plowing back of duties and tariffs collected from importation of animals, milk and dairy products, meat and meat products, including animal feed ingredients, into the development of the local livestock industry, as patterned after the RTL,” Medrano said.

“This is the most welcome legislative act to provide the necessary and sustainable funding support for the development of the livestock and poultry sector and support the local farmers directlyaffectedbysuchimportations.”

Villar, who chairs the Senate Committee on Agriculture, Food and Agrarian Reform, said senators will draft and file the LDC bill soon.

“We have neglected the livestock industry until the African swine fever [ASF] came in. I did not think of it until the ASF came because our livestock industry is private-sector led,” she said.

“We are really studying how to help the livestock farmers because of the hardships they experienced with ASF. This bill was delayed because we had to commission a study since there was none before. I asked the Department of Finance to make a study since we cannot write a bill without a basis, and it took them six months.”

In his presentation, economist Karlo Adriano, who is also a propo-

nent of the commissioned study, said the LCEF for the livestock, poultry and dairy industries should have P6.3 billion based on the average tariff collections from 2015 to 2020.

The CCEF, which will comprise both the tariff collections from corn and feed wheat imports, would amount to P2.8 billion, Adriano added.

The creation of these two funds would increase the government’s national budget for the corn sector to P5 billion from the current P2.2 billion, and the livestock budget to nearly P10 billion from the current P3.6 billion, the DA official said.

The proposed LDC bill will also call for the rationalization of government agencies that oversee the livestock, poultry and corn industries. Jasper Emmanuel Y. Arcalas

Lacson, Sotto vow to crack down on smuggling of agri goods

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EEDING the clamor of agitated Benguet vegetable farmers blatantly being “robbed of livelihood” by smugglers of imported agricultural products sold in the black market, Senator Panfilo Lacson assured a no-nonsense reform is in the priority list of the Lacson-Senate President Vicente Sotto III administration.

Lacson laments that even as local farmers are already encountering difficulty earning a living, “they are still given a hard time by those who are suppose to take care of their rights and source of living, that contribute to the country’s economy and preserve the health of our countrymen.”

This was just one of the many gripes conveyed by Benguet farmers who sought the help of Lacson, Partido Reporma chairman and standard-bearer, and his running mate Sotto during the presidential tandem’s sortie in north Luzon.

“Thank you po, sir, sa pag-intervene sa [Senate hearing],” was the short but emotional message by Agot Balanoy, manager of Hi-Land Farmers Multipurpose Cooperative, when he personally met Lacson in Baguio City during the last leg of the Lacson-Sotto presidential tandem’s provincial sorties before the end of 2021.

T he farmer-residents were among the last visited by the Lacson-

Sotto team in their Northern Luzon sorties before they take a break from their countryside campaign sorties for the year-end.

In a series of tete-a-tete with rural folks, farmers conveyed to Lacson himself they can feel that their hopes of “finally getting justice is near,” given that the senator vowed to give priority to take care of the agriculture sector, more so in the midst of rampant illegal smuggling of agriculture products killing the local industry.

In his Facebook page, Lacson affirmed an appeal to “uplift the dignity of our farmers under the #WalangNakawanNgKabuhayan para maiangat ang dignidad ng mga magsasa-

ka gayundin ang mga negosyanteng Pilipino na sinusubukan pa ring makaahon sa epekto ng pandemya.”

“Let us uplift the dignity of our local farmers by buying their products,” Lacson pleads in his post, adding: “Magtulungan tayo para hindi sila manakawan ng kabuhayan.”

In a recent Senate inquiry into the agriculture sector, Sotto and Lacson zoomed in on unabated rampant smuggling, flooding markets with imported fruits and vegetables, like strawberry and carrots, among others, despite the mounting regulations and other processes required to pass agencies including the Bureau of Customs and the Department of Agriculture. Butch Fernandez

HE BBM-Sara UniTeam will roll out a recovery roadmap for local hog raisers and put an end to runaway pork prices should they win in the upcoming 2022 elections.

Presidential aspirant Ferdinand ‘Bongbong’ Marcos, Jr. and his running-mate Davao City Mayor Sara Duterte noted that higher inflation caused by soaring pork prices had become a burden on millions of Filipino families.

“High pork prices are a drain in the budget of Filipino households.

Simply put, the issue in pork prices is mainly due to a supply problem that was worsened by the onslaught of the African swine fever (ASF),” the UniTeam said.

The BBM-Sara UniTeam added that its plan will include, among many, investments in research and development, direct technical assistance to hog raisers, and provision of loans.

The UniTeam is also eyeing to promote LGU-led agriculture initiatives, culling from the experience of Marcos Jr. in the province of Ilocos Norte, where the local government became a significant buyer of agriculture products to support the farmers.

“We are now in the process of crafting an agriculture blueprint that will provide long-term assistance to our local hog industry and hasten their recovery from the ASF and even from the Covid-19 pandemic,”

the UniTeam added.

According to the Department of Finance, meat prices shot up beyond expected ranges in 2021, and it accounts for 1.1 percentage points out of the 4.4 percent overall inflation registered last year.

Economists point out that some of the adverse effects of high inflation are rising prices and reduced purchasing power of consumers.

“We need to look beyond just trying to lower pork prices through importation. This early, we need to craft a solid plan to revitalize our hog-raising sector and help them grow the local hog population after the havoc caused by the African swine fever (ASF),” the BBM-Sara UniTeam pointed out.

The ASF decimated the local hog inventory, which dropped from 13 million heads in 2019 to 8 million in 2021. The dwindling supply prompted the government to resort to importation, which resulted in a reduced tariff for imported pork.

Despite the ramping up of importation, pork prices have remained high. According to reports, prices in wet markets have remained above P300 per kilo and have not yet returned to pre-pandemic levels.

“Relying on importation as a sole means to control the prices is not a good long-term strategy and may even prove detrimental to our food security,” the UniTeam stressed.

Nickel jumps to decade high on signs of historic supply squeeze

N

ICKEL rallied to the highest in more than a decade as dwindling exchange inventories leave traders bracing for a historic supply squeeze.

In a sign that traders are scrambling for spot supplies, cash contracts traded at the widest premium to three-month futures since 2007 on the London Metal Exchange on Thursday. And with Shanghai Futures Exchange stockpiles near a record low, nickel’s tight supply dynamics have made it the star performer during a broad rally in base metals markets this month, with prices up 9.1 percent.

Nickel climbed as much as 3.4 percent to $22,935 a ton on Friday, at the highest since August 2011.

Investor interest is growing amid booming use in electric-vehicle batteries, providing a further boost as metals rally on the back of deteriorating supply. Prices have also been supported after Indonesia said it’s considering a plan to impose an export tax on some nickel products.

Even for those who think the nickel market is overheating, the steep backwardation may discourage them from taking bearish bets,

as they could be exposed to heavy losses when rolling contracts forward or buying them back.

“If you get a situation where there’s a scramble for supply, you could see some outsized price moves off the back of it,” Colin Hamilton, managing director for commodities research at BMO Capital Markets, said by phone from London. “From that point of view, it’s very difficult to advocate for anyone to take an aggressive short position.”

Zinc and aluminum production has also been hit hard during Europe’s energy crisis, and a fresh spike in regional power prices is bringing supply worries back to the fore across metals markets.

Investors are also parsing data released Friday that showed China’s record-breaking export strength continued into December, pushing the annual trade surplus to a new high. Still, trade growth is expected to be weaker in the new year as demand for work-from-home technology and health-care equipment slows and consumption shifts toward services as the rest of the world starts to live with Covid. Bloomberg News

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Monday, January 17, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Foolish fear

F

ear is the most powerful of all human emotions because it requires an almost instantaneous response. You can linger with love and hold your hate.

But humans are hard wired for an immediate fightor-flight response. The animal that freezes in the headlights of an oncoming car usually winds up as road-kill.

When a strange looking bug lands on our arm, we make a quick response rather than taking the time to look it up on the Internet to find out if it is friend or foe. That is who we are.

And because our response to fear is so predictable, fear is the weapon of choice to control another person. Fear is as much psychological as it is real. The threat of violence can be even more manipulative as the violence itself. A raised fist is most often just as powerful as a thrown punch under the right circumstances.

We speak of an “irrational fear” and rarely an “irrational love” although we know that people do love for all the wrong reasons and at the wrong times. But being afraid of something does not require any common sense or reasonable justification. All it requires is the near-total acceptance that there is a threat to our well-being.

Virtually every culture/society has a basket of derogatory terms to describe an outsider or foreigner.

In the Middle East and North Africa, the term for Black African people is “abid,” Arabic for slave. The Ancient Greeks used the term “barbarian” toward those who did not speak Greek. The Brazilian Portuguese word “Polaca” (meaning “Polish woman”) is synonymous with “prostitute”. Persians call Arabian people Soosmar-khor, Persian for “lizard eater.”

These scornful terms “soften” the fear of the outsiders. Something you can insult becomes less powerful.

However, fear can become debilitating if it is allowed to grow too powerful. A child that is constantly reminded to be afraid of strangers can eventually lose the ability to sensibly socially interact. Likewise, caution should be used with domestic animals but not necessarily miserable fear.

The pandemic has created millions of people who are borderline—if not past the border—of near psychosis about the virus. “A resident of Madhepura district, India has taken 11 vaccine shots in the past 10 months.” “A Texas judge ruled Thursday there was no probable cause against a mother who allegedly put her son in the trunk of the car to avoid being exposed to Covid-19.”

Professor Devi Sridhar, chair of global public health at the University of Edinburgh, has probably been unfairly criticized. But she was quoted as saying, “If all adults were vaccinated who were offered it, [the] pandemic would be over.” However, would the pandemic be over if the last 18.7 percent of over-18s in England were vaccinated?

According to UK government data, infection rates in over-18s are currently higher in the vaccinated than the unvaccinated, and 73 percent of total infections in the month ending January 9th were in the vaccinated. The latest data also shows that 63 percent of hospitalizations and 70 percent of deaths with Covid in the month ending January 9th were in the vaccinated (one or more doses).

People need to be vaccinated although it is not a guarantee of immunity. But how much of the “no vax and you are going to die” is fear-mongering? When potentially irrational fear is used as a public sector manipulative tool, it helps destroy sensible thinking and action, and that can be worse than the disease.

Since 2005

Rebuild cities, prioritize poor communities Atty. Jose Ferdinand M. Rojas II

RISING SUN

I

N the latest Omicron surge, it is the National Capital Region (NCR) that has been posting the highest number of cases, underlining the evident fact since the start of the pandemic that cities have been the hardest hit by Covid-19. According to global statistics, roughly 90 percent of Covid-19 infections worldwide were reported in urban settings, with a marked concentration in poor urban communities.

Experts and researchers attribute this to cities’ soaring populations, overcrowding, and poor air circulation. While those who have the means to move out of cities or at least get a second (or third) home out of town are luckier, we have a huge percentage of the population who need to remain in urban centers to be able to earn a living. This is where the national and local governments have to work with the private sector to create sustainable cities that promote health.

Thomas M. Orbos

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Walkability has to do with the ability of people to travel short distances using wide and well-maintained streets, eliminating the need to take public transport and reducing people’s exposure to the virus.

Reducing the number of overcrowded households may be difficult to do here because of economic limitations. So the government and the private sector need to start working together now to increase the availability of affordable housing for the

Dissecting the no-vax, no-ride policy

BusinessMirror A broader look at today’s business Publisher

A recent Toronto study discovered that as leaders rebuild their cities, they have to take a few things into consideration. Given our local limitations here in the Philippines, the response has to be tailored to the diverse needs of our people.

What is clear in the study is the importance of prioritizing the needs of low-income neighborhoods, addressing the population and overcrowding problem, building more green spaces, and improving the walkability of cities.

A recent Toronto study discovered that as leaders rebuild their cities, they have to take a few things into consideration. Given our local limitations here in the Philippines, the response has to be tailored to the diverse needs of our people. What is clear in the study is the importance of prioritizing the needs of low-income neighborhoods, addressing the population and overcrowding problem, building more green spaces, and improving the walkability of cities.

C

ovid is real. And there is nothing mild with having mild symptoms, regardless of what we have heard is a plus factor once vaccinated. I tested positive for Covid and I say it is not a pleasant experience. My takeaway: take the vaccine, yes, but continue religiously practicing the pandemic mantra—especially the wearing of masks and social distancing. If you need to meet others face to face, then do so, but try to do it al fresco with much caution. We are still in a pandemic and we should not let our guard down.

The sudden surge of infections generated an immediate response from our government, and rightly so. Most areas are now on Alert Level 3, meaning, back to restrictions on our movement and activities though not as harsh as last year that curtailed our economic growth.

One thing that has elicited much discussion is the Department of Transportation’s order to ban those unvaccinated on public transport.

Under the agency’s recent department order, commuters are required to present their vaccination cards when boarding any public utility vehicle, otherwise they will be refused transport. Two opposing schools of thought come to mind. One, it is understood that such a measure intends to curtail the infection spread

and at the same time “force” those still unvaccinated to take the vaccine. The other opinion focuses not so much on the primordial right of citizens to own their decisions on health matters, but rather points to the present lack of access to vaccines for the majority of our citizens.

There is also the issue of denying the basic right of public transport to everyone.

I will not dwell on its constitutionality, as other interest groups and individuals have already voiced this out. I would also like to focus only on its application to land transport where majority of commuters are of the lower income tier. Coincidentally, this is also the bracket that has received less of the vaccines, either because of access problems of time

Well, so much for the start of 2022—the ongoing pandemic surge, elections around the corner, tightening restrictions as well as tightening of belts in the midst of a creeping inflation.

But hope springs eternal. We will remain hopeful and optimistic of better surprises in our 2022 journey!

or mobility. I understand the push of the transport department on this matter in their earnest concern to safeguard the health interest of everyone. But there may be a middle ground, especially since we are still below our vaccination targets and our transport options for the greater majority of the riding public remain limited. One middle ground would be to provide exclusive transport for the vaccinated and the unvaccinated. It may be discriminatory, but definitely not as discriminatory as a total PUV ban on the un-vaxed. Another possible option would be to require a negative Covid tests for the unvaccinated passengers, proof of which they will need to present before boarding the public vehicles. Whichever way, it would be more humane if we give options to the populace rather than decide on the immediate exclusion of a certain group. We can do this without sacrificing the vaccination message.

A side note to this is DOTr’s plan

majority of our poor population.

The housing units have to be of a certain quality, constructed with adequate space around them, and complete with good ventilation for each home. Adequate green spaces in each community will also provide a safe space for people to get clean air whenever they want to.

Finally, the amenities that are available to members of our poor communities are presently lacking or are in poor condition. For example, sidewalks, stores selling fresh produce, high-quality health-care centers, ventilation system, cleaning staff, etc. The government—and indeed, the private sector, too—definitely need to take a closer look at this and make sure that good services and amenities are not just being offered to high-income communities and more affluent families.

Perhaps there was a time when we thought it would be all right to just look after our own—our own family, our own neighborhood, our own community. The pandemic has underlined the fact that this is not going to work anymore. We are all connected and we are only as strong as our weakest link.

to have mystery riders to check the implementation of their no-vax, noride directive. Well and good, but I hope they would also fully implement the no-provincial buses-inthe-metro directive and utilize instead the integrated provincial bus terminals. This will surely help curb the transmission of the virus especially outside Metro Manila, and at the same time help decongest traffic in Metro Manila.

Other matters: We welcome the long overdue expansion of the Candaba viaduct (I am sure that the interim traffic flow will be managed well) as well as the planned Quirino-Mindanao Avenue Connector of Nlex Corp., which would ease up the flow of truck traffic along Congressional Avenue. Also welcome is the renaming of Roosevelt Avenue to FPJ Avenue. Last year, I opposed the renaming of Del Monte Avenue to FPJ Avenue for historical reasons.

Renaming Roosevelt Ave, a relic of our colonial past, to FPJ Avenue as a tribute to FPJ who grew up in that area, is definitely more appropriate.

Well, so much for the start of 2022 —the ongoing pandemic surge, elections around the corner, tightening restrictions as well as tightening of belts in the midst of a creeping inflation. But hope springs eternal. We will remain hopeful and optimistic of better surprises in our 2022 journey!

The author may be reached via: thomas_orbos@ sloan.mit.edu

Opinion BusinessMirror

www.businessmirror.com.ph

Changing mindsets and mind threats

Wonder man Siegfred Bueno Mison, Esq.

THE PATRIOT

Joel L. Tan-Torres

DEBIT CREDIT

W

hen I was the Commissioner of the Bureau of Internal Revenue (BIR), I initiated the passage of a regulation that prescribed the submission of an accountability statement by the key officers and taxpayers. Following the lead of the Securities and Exchange Commission in mandating the management of entities to submit a Statement of Management’s Responsibility (SMR) for Financial Statements, Revenue Regulations (RR) 3-2010, dated February 26, 2010, provide for the submission of the Statement of Management Responsibility for tax purposes that shall accompany the financial statements submitted with the annual income tax return.The main thrust of this measure is to change certain mindsets of taxpayers and to promote greater levels of tax disclosures to the public.

This statement requires three senior executives of a business enterprise to acknowledge, by signing the document, that they, as management, are responsible for certain stipulations. In the SMR, the signors signify that they are responsible for all information and representations contained in all tax returns filed; ensuring that the tax declarations are prepared from properly maintained accounting books and records; ascertaining the compliance of their business with tax laws, regulations and issuances; and, reconciling the discrepancy of any disparity of the reported numbers arising from financial accounting standards and tax code accounting rules. This SMR could have been the pre-cursor of more transparent public disclosure of taxpayers.

A number of taxing jurisdictions around have instituted an analogous system of accountability reporting and representation. These include the Tax Transparency Code (TTC) of Australia, the Tax Transparency Standards of the Organization for Economic Cooperation and Development, and others. Tax transparency reports are recent and emerging developments in the tax community, which are intended to provide greater public disclosure of tax information by businesses. The TTC of Australia was implemented in 2016 and was then one of the most advanced and comprehensive tax transparency measures in the world. This tax transparency reporting and representation is a development that the BIR can consider as part of its tax administration program.

In the SMR, the signors signify that they are responsible for all information and representations contained in all tax returns filed; ensuring that the tax declarations are prepared from properly maintained accounting books and records; ascertaining the compliance of their business with tax laws, regulations and issuances; and, reconciling the discrepancy of any disparity of the reported numbers arising from financial accounting standards and tax code accounting rules. This SMR could have been the pre-cursor of more transparent public disclosure of taxpayers.

W

hile on work pause—drive or fly or sail away! At least that’s what I did when I was in between corporate jobs in late 2019, prior to this ongoing pandemic. From one island to another using my mother’s reliable Toyota, I saw and appreciated God’s creation in Luzon, Visayas, and Mindanao. Enter 2022.

Three months detached from a senior executive post at the largest integrated real property developer in the country, I pushed the gas pedal of a rental VW and took the scenic trip from Northern to Southern California and back, via US-1 also known as the Pacific Coast Highway. Although I was looking forward to an easy journey, I started driving in the midst of foggy, cold weather in the Bay Area.

Solo driving can take its toll on one’s physical health, especially for someone recovering from a recent leg surgery. Refusing to be disheartened, I took the plunge, determined to test my driving skills on the freeways and backroads of California, and relying on my resolve to mentally call forth considerable feats in physical stamina. And so, the rented Germanmanufactured vehicle took me to the scenic spots along the 17-mile drive in Monterey, Carmel-by-the-Sea, Morro Bay, and Long Beach Shoreline Marina. There were of course multiple stops along US-1, both for the purpose of better appreciation of the breathtaking views and also

for necessary rest breaks. The foggy weather at the start of the trip did not deter me from my wonder and wander trip! I hardly noticed that my road trip had passed the halfway mark, and behind me was a trail of treasured moments with kith and kin, and of kind hearts gifting me with food and mementos. But more than just these things, I appreciated their stories as to how their lives have turned out in the Land of the Free.

As I quietly savored the fresh breeze from the beaches of Sta. Barbara, where I took an extended pit stop, I pondered how God provides for me through and through. On this trip, He gave me everything I needed—food and restful sleep every night for my body, and amazing views of His creation for my soul, plus a loving sister who, at one phone call, instantly makes all the billeting arrangements even during unscheduled pit stops. I had planned my stops but there were times when a certain wondering and wandering feeling within made me stop and “smell the roses” that God has provided me.

Insurance for golfers

I note that with the Philippines and the BIR initiating a tax disclosure initiative as early as in 2010 with the SMR reporting, we could be one of the pioneering leaders in this initiative by now and reaping the benefits of this tax transparency reporting.

To be continued

G

Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979.

This column accepts articles for publication from the business and academic community. Articles not exceeding 600 words can be e-mailed to jltantorres@up.edu.ph.

But there are also risks involved in golfing. Every time you swing the club, there is the contingent liability that the ball may accidentally hit another golfer or bystander, including caddies, and make you liable for a suit. Even your golf set may be stolen or lost. These

By Reynaldo A. de Dios

olfing is a relaxing sport. This is the unqualified statement of businessmen who play golf not only for the exercise but also as an opportunity to make the right business contacts while playing. It is a fact that the green of the grass is soothing for the eyes and the concentration on the game helps a lot in reducing stress. There is also the possibility that those who play exceptionally well could turn professional and earn more than working in a regular office. are some of the risk exposures in playing golf. But there is also the danger of hitting a hole-in-one as it is customary that when this unique feat is accomplished, the lucky player treats everybody in the premises to a free drink. The first time, in the ecstasy of the mo-

Monday, January 17, 2022

This new year, therefore, we can renew and strengthen our commitment to make Jesus the center of our lives. We can “drive through life” for miles and miles yet if we fail to meet and know Jesus, we will surely fail. This year, and for years to come, more than pursuing fame or fortune, may we instead exalt Jesus and acknowledge Him in all areas of our lives—in our families, relationships, careers, ministry, and other endeavors.

Associated Press

W

ASHINGTON—US intelligence officials have determined a Russian effort is underway to create a pretext for its troops to further invade Ukraine, and Moscow has already prepositioned operatives to conduct “a false-flag operation” in eastern Ukraine, according to the White House.

White House press secretary Jen Psaki said on Friday the intelligence findings show Russia is also laying the groundwork through a social media disinformation campaign that frames Ukraine as an aggressor that has been preparing an imminent attack against Russian-backed forces in eastern Ukraine.

Psaki charged that Russia has already dispatched operatives trained in urban warfare who could use explosives to carry out acts of sabotage against Russia’s own proxy forces— blaming the acts on Ukraine—if Russian President Vladimir Putin decides he wants to move forward with an invasion.

“We are concerned that the Russian government is preparing for an invasion in Ukraine that may result in widespread human rights violations and war crimes should diplomacy fail to meet their objectives,” Psaki said.

Pentagon spokesman John Kirby described the intelligence as “very credible.” A US official, who was

not authorized to comment on the intelligence and spoke on condition of anonymity, said much of it was gleaned from intercepted communications and observations of the movements of people.

The US intelligence findings, which were declassified and shared with US allies before being made public, estimate that a military invasion could begin between mid-January and mid-February.

Ukraine is also monitoring the potential use of disinformation

by Russia. Separately, Ukrainian media on Friday reported that authorities believed Russian special services were planning a possible false flag incident to provoke additional conflict.

The new US intelligence was unveiled after a series of talks between Russia and the US and its Western allies this week in Europe aimed at heading off the escalating crisis made little progress.

White House national security adviser Jake Sullivan on Thursday

said the US intelligence community has not made an assessment that the Russians, who have massed some 100,000 troops on Ukraine’s border, have definitively decided to take a military course of action.

But Sullivan said Russia is laying the groundwork to invade under false pretenses should Putin decide to go that route. He said the Russians have been planning “sabotage activities and information operations” that accuse Ukraine of prepping for its own imminent attack against Russian forces in eastern Ukraine.

He said this is similar to what the Kremlin did in the lead-up to Russia’s 2014 annexation of Crimea, the Black Sea peninsula that had been under Ukraine’s jurisdiction since 1954.

The Crimea crisis came at moment when Ukraine was looking to strengthen ties with the West. Russia had stepped up propaganda that Ukraine’s ethnic Russians were being oppressed in eastern Ukraine.

Russia has long been accused of using disinformation as a tactic against adversaries in conjunction with military operations and cyberattacks. In 2014, Russian state media tried to discredit pro-Western protests in Kyiv as “fomented by the US in cooperation with fascist Ukrainian nationalists” and promoted narratives about Crimea’s historical ties to Moscow, according to a report by

Foreign Minister Sergey Lavrov warned on Friday that Moscow wouldn’t wait indefinitely for the Western response, saying he expects the US and Nato to provide a written answer next week. Lavrov described Moscow’s demands for binding guarantees that Nato will not embrace Ukraine or any other former Soviet nations, or station its forces and weapons there, as essential for the progress of diplomatic efforts to defuse soaring tensions over Ukraine. “We have run out of patience,” Lavrov said at a news conference. “The West has been driven by hubris and has exacerbated tensions in violation of its obligations and common sense.”

Stanford University’s Internet Observatory.

Efforts to directly influence Ukrainians appear to have continued during the ongoing conflict in eastern Ukraine, in which at least 14,000 people have died. The Associated Press reported in 2017 that Ukrainian forces in the east were constantly receiving text messages warning that they would be killed and their children would be made orphans.

fog along the way) and figuratively!

As this self-imposed six-day road trip ended where it started at the Bay area, I drove with confidence not on myself but on my Creator who loves me so much that He gave His begotten Son to die for me, and if only I believe, I shall have eternal life (John 3:16).

This new year, therefore, we can renew and strengthen our commitment to make Jesus the center of our lives. We can “drive through life” for miles and miles yet if we fail to meet and know Jesus, we will surely fail.

This year, and for years to come, more than pursuing fame or fortune, may we instead exalt Jesus and acknowledge Him in all areas of our lives—in our families, relationships, careers, ministry, and other endeavors. The more we amplify Him, the more we receive His righteousness, provision, healing and grace. As 2022 ushered a fresh start, let us all be patriots and focus on how Jesus served (not led) His followers. Precisely what a true patriot means: realizing that there’s a much bigger being and a far greater cause. If only Filipino believers imbibe this perspective, I wonder why some make New Year’s resolutions, year after year.

The calm waters at a coastal town of Sta. Barbara along the Pacific and the soothing sunrise prodded me to hold on to God’s wonderful promises.

This joyride was indeed a brief but much-needed respite from the hustle and bustle of what life had been so far in Metro Manila. Being on the “other side” of the world and blessed with more alone time, I could not help but realize that all of our respective journeys through each novel year should not depend on our own efforts. If it were so, then year-by-year it will be a constant struggle, one of laboring and of striving, yet wanting. This solo joyride for several miles reinforced my reliance on God’s Word more than on physical supplies, to sustain me for this peregrination. If we are believers of Jesus Christ, the Bible declares us righteous (2 Corinthians 5:21). Thus we rely on His righteousness rather than on our own strength and righteousness.

Heading back north, I saw the road more clearly, literally (with no

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

For questions and comments, please e-mail me at sbmison@gmail.com.

To meet these risks, there is available comprehensive insurance policy that will give the insured golfer peace of mind. A random survey shows a number of insurance companies are selling this type of cover. All golfers should buy insurance protection, which is well within their budget, considering the high costs of golfing these days. And I suggest that you request your agent or broker to arrange the insurance policy with a duly licensed insurer.

strike twice and a golfer may hit a second hole-in-one shortly after his first feat.

To meet these risks, there is available comprehensive insurance policy that will give the insured golfer peace of mind. A random survey shows a number of insurance companies are selling this type of cover. All golfers should buy insurance protection, which is well within their budget, considering the high costs of golfing these days. And I suggest that you request your agent or broker to arrange the insurance policy with a duly licensed insurer.

ment, the golfer may not mind the bills too much. But lightning does

The author is a risk management consultant and Editor of Insurance Philippines magazine.

White House: Russia prepping pretext for Ukraine invasion

By Aamer Madhani, Nomaan Merchant & Vladimir Isachenkov

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Nina Jankowicz, a global fellow at the Washington-based Wilson Center, said Russia’s disinformation efforts have evolved between the lead-up to its annexation of Crimea and now. This time, the Kremlin appears to be driving anti-Ukraine narratives with top officials making bellicose public statements, said Jankowicz, author of “How To Lose the Information War: Russia, Fake News, and the Future of Conflict.”

“The officials are setting the tone for the state media and they’re just running with it,” she said.

So-called “troll farms” that post fake comments are less influential in part because social media companies have gotten better at stopping them, she said. Russian efforts on social media often play on existing doubts in Ukrainian society about whether the US will support Ukraine in a conflict and whether the West can be trusted, she said.

The US intelligence community has taken note of a buildup on social media by Russian influencers justifying intervention by emphasizing deteriorating human rights in Ukraine, suggesting an increased militancy of Ukrainian leaders and blaming the West for escalating tensions.

“We saw this playbook in 2014,” Sullivan told reporters on Thursday.

“They are preparing this playbook again.”

The Russians, while maintaining they don’t plan to invade Ukraine, are demanding that the US and NATO provide written guarantees that the alliance will not expand eastward.

The US has called such demands nonstarters but said that it’s willing to negotiate with Moscow about possible future deployments of offensive missiles in Ukraine and putting limits on US and Nato military exercises in Eastern Europe.

Foreign Minister Sergey Lavrov warned on Friday that Moscow wouldn’t wait indefinitely for the Western response, saying he expects the US and Nato to provide a written answer next week.

Lavrov described Moscow’s demands for binding guarantees that Nato will not embrace Ukraine or any other former Soviet nations, or station its forces and weapons there, as essential for the progress of diplomatic efforts to defuse soaring tensions over Ukraine.

He argued that Nato’s deployments and drills near Russia’s borders pose a security challenge that must be addressed immediately.

“We have run out of patience,” Lavrov said at a news conference.

“The West has been driven by hubris and has exacerbated tensions in violation of its obligations and common sense.” Isachenkov reported from Moscow. AP National Security writer Robert Burns contributed reporting.

A10 Monday, January 17, 2022

PNP PINS SECURITY PLANS ON EARLY RELEASE OF POLL BETS

By Rene Acosta

@reneacostaBM

T

HE Philippine National Police expects to have a better focus in its election security operations with the early release of the official list of candidates for the 2022 national and local elections as declared by the Commission on Elections.

The Comelec has announced that the target date for the ballot printing starts today (January 17), and with this, the PNP expects the election fever to heat up a notch higher.

“With the identification of the official candidates, our PNP personnel can have a clearer picture of whom to monitor in their respective areas of jurisdiction,” PNP chief General Dionardo Carlos said on Sunday.

The PNP is focusing on the background of each candidate and how this information can be related to opposing candidates.

“We need to monitor if there is tension among them waiting to be triggered. It is our proactive approach in dealing with possible election-related violence,” Carlos said, as he gave emphasis on intelligence build-up to prevent violence.

“The coming up of the election watch-list areas can be fluid given the unique political set-up in every locality,” the PNP chief also said, referring to areas that could be officially identified as towns and municipalities where election-related violence is possible, and therefore need intense monitoring and security.

The list of areas is still under deliberation by the Comelec.

The PNP said it was in constant coordination with the Comelec, Armed Forces of the Philippines (AFP) and other law enforcers to regularly exchange inputs on gathered information regarding the activities of every candidate.

Congress told to pass PSA, SIM card registry, no-expiry franchise bills

S

ENATE Minor it y L eader Franklin Drilon, prodding members of the Senate and the House of Representatives to frontload passage of pending major bills, including the Public Service Act, SIM Card Registration and No-expiry franchise bill, reminded lawmakers Monday to “move swiftly on the remaining 10 session days to pass critical laws that can hasten the country’s economic recovery” before lawmakers of both chambers go on recess.

For instance, Drilon cited the need for lawmakers to address the proliferation of troll accounts, address franchise woes, and expand protection for solo parents before going on recess again for the 2022 national and local elections.

Drilon issued the appeal as members of Congress are set to return to work on January 17 until February 4, giving lawmakers “about 10 sessions days to work on several measures before it goes on recess for the 2022 national and local elections.”

For instance, the Senate Minority Leader listed pending amendments to the Public Service Act that he noted is still in the bicameral committee, including a proposal to limit the definition of public utility, while opening up other public services to the market.

As the principal author of the measure, Drilon clarified that the proposed amendments to the Public Service Law, which was enacted in 1936, aims to provide a clear definition of public utilities, pointing out how the interchangeable use of “public utility” and “public service” has effectively barred foreign entry into the market.

According to Drilon,“the passage of this measure, along with the newly-signed Republic Act (RA) 11595 or the Amended Retail Trade Act, will set the stage for the country’s economic recovery,” adding that “they will boost the country’s chance to return to pre-pandemic economic growth level.” Drilon is also the principal author of RA 11595 lowering the paid-up capital requirement in retail trade to P25 million from its previous limit of $2.5 million or roughly P125 million.

Moreover, the senator said that Congress should approve the Sim Card Registration Act and send it immediately to the President for his approval.

He pointed out that the bill mandates the ownership registration of all SIM cards in the countr y to “deter the proliferation of SIM card, internet or electronic communication-aided crimes, such as, but not limited to terrorism; text scams; unsolicited, indecent or obscene messages; bank fraud; libel; anonymous online defamation; trolling; hate speech, spread of digital disinformation or fake news.”

At the same time, Drilon inserted a provision in the proposed measure that can unmask trolls and fight anonymity in cyberspace by requiring real-name and phone number upon creation of social media accounts. “This new provision will prevent anyone from making anonymous accounts online. Section 5 of the proposed measure states that all social media account providers shall require real-name and phone number upon creation of account,” Drilon said.

The opposition lawmaker likewise aired hopes Congress can pass the non-expiration of license and franchise bill that he authored and the Senate passed on third reading last month.

This, even as he also affirmed support for the AFP Modernization bill, Teacher Education Excellence Act, Night Shift Differential Pay bill, Judiciary Marshalls Act, all of which are being tackled in the bicameral panels.

The Senate Minority Leader also wants Congress to prioritize the bill that seeks to increase the age for determining statutory rape, as provided in the bill that recently hurdled the bicameral level and will soon be up for final approval by both chambers soon as Congress reconvenes regular session.

“We have a long list of measures that are in advanced stages of legislation. Some of them have been pending in bicameral for months.

I urge the leadership of both houses of Congress to take a look at it so we can prioritize its passage in the remaining session days,” said Drilon. “We must move at lightning speed in the remaining 10 sessions days before the campaign period kicks in,” he added, noting that Resolution 10695 of the Commission on Elections sets the campaign period for candidates for president, vice president and partylist groups, from February 8 to May 7, 2022. Butch Fernandez

Priority bills GUIDE, CTRP reforms top solons’ agenda T

By Jovee Marie N. dela Cruz

@joveemarie

HE 18th Congress has vowed to maximize its remaining weeks before its election break for the passage of pending priority bills, including the Government Financial Institutions Unified Initiatives to Distressed Enterprises Act (GUIDE), Center for Disease Prevention and Control as well as the tax packages under the Comprehensive Tax Reform Program of the Duterte administration.

Speaker Lord Allan Velasco said the session will return on Monday to a post-holiday break session with strict health and safety protocols in place amid the ongoing threat of the highly contagious Omicron coronavirus variant.

“We only have three weeks or nine session days to finish some priority measures before we adjourn for the election period,” Velasco said in a statement.

After it resumes session on Monday, the House will adjourn on February 5 in time for the start of the campaign period for nationallyelected positions on February 8.

Nudge to Senate

VELASCO also appealed to the Senate to act on at least a dozen measures that have already been

approved on final reading by the House.

These include the proposed Internet Transactions Act and the Government Financial Institutions Unified Initiatives to Distressed Enterprises or GUIDE Act; the bills creating the Medical Reserve Corps, Philippine Virology Institute, and Center for Disease Prevention and Control; hiring of mental health professionals in basic education; increasing social pension of indigent senior citizens; and strengthening data privacy protection.

“We urge the Senate to expedite the deliberations and approval of these measures so we can pass them into law before the campaign period,” Velasco said.

For his part, House Committee on Ways and Means Joey Sarte Sal-

ceda said the lower chamber is “always ready and always committed to the President’s socioeconomic reform agenda.”

Salceda responded to a recent statement by the Department of Finance appealing to Congress to pass the remaining packages of the Comprehensive Tax Reform Program, President Duterte’s landmark fiscal legislative agenda, and which Salceda principally authored.

In a recent statement, Finance Secretary Carlos Dominguez said that the Department is “optimistic” about the chances of Congress approving the remaining tax reform packages.

“The House is ready for bicam.

Whenever the Senate sends it, we will act on it,” Salceda assured.

“I’m a true believer in many of the features of these reforms, which I have advocated for since the 1990s.”

Salceda said that he has “some proposals to make the packages more responsive to the economic situation.”

Tweaks to valuation

“ON Package 3 [Real Property Valuation and Assessment Reform], I suggest amending the rules so that we no longer tax fixed machinery and equipment that is in active use for business. That will encourage modern and productive use of

land,” Salceda said.

Salceda also said “a transition period may be necessary to ease in LGUs, so that the changes in valuation are not so drastic that small farmers, residential owners, and small businesses are not shocked by their tax increases.”

“I think a five-year transition period is a good starting point for discussions. For high-value areas such as business districts and exclusive for-the-rich villages, we can immediately implement the accurate valuations. Finally, I also want a bigger discount for socialized housing, through lower assessment levels,” Salceda said.

Salceda also sees certain changes that could be made to Package 4 of the CTRP, on passive income and financial intermediaries, to make the proposal “more appealing to a broader consensus.”

“I propose three major changes to PIFITA [Passive Income and Financial Intermediaries Taxation Act]. First, I would like to reconsider the taxes we impose on basic records such as birth certificates. Second, let us take a second look at the DST taxation of the PCSO, to see whether we are taking away from their revenues to serve the medical needs of the poor. Finally, I would like to take a look at how we tax trading gains on cryptocurrencies and other non-security assets.

See “CTRP reforms,” A2

A MEDICAL staffer from the Armed Forces’ Eastern Mindanao Command examines a patient on board the Navy’s prime ship, the BRP Ang Pangulo, which Eastmincom through its Joint Task Force Sambisig has turned into a floating hospital for the medical evacuation and treatment of typhoon Odette survivors in Surigao City, Siargao Island and Dinagat Islands. Story in A3 Nation. PHOTO COURTESY OF EASTMINCOM

BBM bares job creation plans, support for biz sectors

J

OB creation will be a top priority of the Marcos-Duterte tandem in order to hasten recovery from the scourge of Covid-19, if ever they are elected in this year’s elections.

This was revealed by presidential aspirant Ferdinand ‘Bongbong’ Marcos Jr., on Saturday in an interview with SMNI. He stressed the BBM-Sara UniTeam’s priority is to create more jobs that w ill focus on business, agriculture, tourism and i nf ra st r uc t u res i n l i ne w it h t he successf u l “Bui ld, Bui ld, Build ” program of the Duterte administration.

“We must prepare ourselves for that recovery, we have to create jobs. That’s the first and most critical element in all of these, kailangan talaga ‘yung m a k a b a li k a n g m g a P in o y s a trabaho[Filipinos must be able

to get back their jobs],” said Bongbong over SMNI’s Point of Order program.

Among the top priorities, he said, is to focus on micro, small and medium-sized enterprises (MSMEs) as they can quickly create jobs for Filipinos and in the process put food on their tables.

“It’s all about jobs, we have to put Filipinos back to work and the way we do it is to invest in sectors where returns are good, or what we call, ‘you get the biggest bang for your buck ’ when you invest in certain sectors that can quickly employ more people,” Bongbong said, speaking partly in Filipino.

Another focus of the BBM-Sara UniTeam is agriculture, which it deems as also a surefire way to provide a lot of jobs and help boost economic recovery.

He, however, qualified that

the agriculture programs should not only be focused on giving assistance to farmers. Instead, long-term solutions are needed to keep the sector strong and ready should there be another disaster or tragedy.

“We will make more jobs because we are talking not about giving assistance to farmers or giving investment to cooperatives. What we are talking about is the entire system of agriculture which we will work on in order to ensure there’s a lot of downstream activity that will employ many people” Bongbong said.

Revitalization of tourism is also one way to create more jobs, the view of the UniTeam.

“Many rely on tourism. Let’s focus on tourism because, for one, the Philippines is trUly a beautiful destination, Just put good roads, clean up a place and you have a

good tourist destination,” Bongbong noted.

He will also push for the continuation of the Build, “Build, Build” program of President Duterte that has created more than six million jobs since its launch in 2016.

He said they will “build upon it and we will make it more extensive but it will be in conformation to a larger plan of economic development.”

Apart from infrastructure, Bongbong also noted that the government must focus on the improvement of communication or digital infrastructure in the country, to make life easier for people, especially for students who rely on online schooling.

In the last quarter of 2021 alone, the unemployment rate in the country rose to 8.9 percent or as many as 4.5 million Filipinos are unemployed, the highest these past years.

Companies

Editor: Jennifer A. Ng

Monday, January 17, 2022

B1

Sta. Lucia to acquire more land, forge joint ventures

By VG Cabuag

S

@villygc

ta. Lucia Land Inc., a property developer in second- and thirdtier cities, said its board has approved the acquisition of a total of 78.47 hectares of land as it beefs up its land banking activities to support its expansion plans.

The company said the properties are in key growth areas in Davao, Rizal, Laguna, Batangas and Pangasinan.

These properties include some 2.97 hectares of land in Batangas, 24.16 hectares in Laguna, 13.95 hectares in Davao, 13.36 hectares in Pangasinan and 24.05 hectares in Rizal.

Its board also approved the company’s formation of joint ventures,

which will oversee the development of a total of 59.32 hectares of land across Batangas, Cavite, Laguna and Rizal.

The project includes 5.77 hectares of land in Batangas, 9.59 hectares in Cavite and 2.89 hectares in Rizal.

The board has given its go-signal to the company’s plan to tap credit facilities for up to P1.52 billion from established banks and financial institutions to finance its strategic land

acquisitions as well as ongoing and future project developments.

In particular, board resolutions had authorized Sta. Lucia to obtain a credit line facility of up to P200 million from Unicapital Inc. and Unicapital Finance and Investments Inc.; a short-term loan facility of up to P300 million from several creditors also through Unicapital; a loan and/or other credit accommodations and facilities for up to P525 million from Union Bank of the Philippines; and a short-term loan facility for up to P500 million from several creditors through Amalgamated Investment Bancorporation.

“Sta. Lucia’s continued expansion signaled its continued bullishness and confidence in the local real estate market, despite the difficulties dealt by this ongoing pandemic,” the company said.

Earlier this year, the company embarked on joint ventures and land acquisitions in key growth areas which also include Cavite, Rizal, Batangas,

Bulacan, Laguna, Iloilo, Davao and Cotabato.

For the three quarters of 2021, the company said it posted a 44-percent increase in net income to P1.84 billion from the P1.28 billion it recorded in the same period in 2020.

Revenues grew 26 percent to P5.74 billion from the previous P4.53 billion.

For the third quarter alone, however, its income fell 22 percent to P406.66 million from the previous P522.8 million, while revenues also slowed down by 15 percent to P1.77 billion from the previous P2.1 billion Total assets, meanwhile, rose to P50.59 billion while total equity grew to P19.42 billion as the company continues to use its earnings to finance its growth plans. These earnings have also allowed the company to distribute cash dividends by yearend amounting to P327.85 million.

To date, the company and its parent firm, Sta. Lucia Group, have already built more than 250 projects across the country.

Dealer to recall Chevrolet vehicles

By Tyrone Jasper C. Piad @TyronePiad

T

he local dealer of Chevrolet will be recalling 435 Suburban and Tahoe 2007-2012 models to replace passenger airbag inflators, according to a recent advisory by the Department of Trade and Industry (DTI).

The Covenant Car Company Inc. (TCCCI) is set to hold a preventive safety recall campaign for some of its models.

“Although no reports have been received...alleging injuries or damages related to this condition, this

may alter its performance and may cause the airbag to go off with too much force in case of a collision, that may cause sharp metal fragments to shoot out and cause injury,” the car dealer said in a letter to Trade Undersecretary Ruth B. Castelo.

Broken down, TCCCI will be recalling 315 Suburban and 120 Tahoe units.

The company has instructed its dealerships to reach out to customers owning the said models that are affected by the recall.

“Chevrolet service centers across the country have been notified to inspect and repair all affected ve-

hicles,” it said. The recall program was launched following the routine inspections done by TCCCI’s partner General Motors Thailand.

It explained that some of the airbag for said models are “made of non-desiccated Phased Stabilized Ammonium Nitrate, as a propellant may over time degrade due to a combination of a high absolute humidity environment and high temperature for long term exposure.”

Last year, TCCCI introduced the Chevy Trailblazer premium compact sports utility vehicle (SUV), which is available in LT and Premier variants.

The model is manufactured at

the General Motors Incheon plant in South Korea.

“The Trailblazer is a continuation of the new design language for Chevy’s crossover family and extends our momentum into one of the industry’s fastest-growing segments. It continues the SUV heritage of the revered nameplate and is now loaded with safety and convenience features that anticipate the needs of today’s most discerning customers,” Chevrolet Philippines President Albert Arcilla said.

TCCCI began full operations in 2009 following its incorporation in the same year.

Mars to buy Taiwan’s Chailease Group vows to fight Pastrana Nom Nom A in $1-B deal

C

onsumer products giant Mars Inc. has agreed to acquire direct-to-consumer pet-food brand Nom Nom in a push to snap up pet-related assets.

The Nashville, Tennessee-based Nom Nom will be an autonomous brand within Mars’s Royal Canin division, a representative for Mars said in a statement Friday. Mars declined to comment on the price.

“Nom Nom is a science-forward technology company improving the lives of pets through fresh food for cats and dogs,” the representative said in a statement. “We are confident that this acquisition will bring synergies to keep supporting their success in the fresh category while complementing our existing portfolio.”

Consumer products producers have been tapping into the growing pet market as pet ownership boomed during the pandemic and millennials and Generation Z spend more on pets. Shares of Chewy Inc., despite declines in the past year, have still more than doubled from the online pet-supply retailer’s $1.02 billion initial public offering in 2019.

Last year, Mars bought direct-to-consumer cat litter company PrettyLitter Inc. in a deal worth less than $1 billion, Bloomberg News reported. In 2020, it acquired Veterinary Specialty Hospital of Hong Kong Ltd., an emergency health-services provider for animals. Bloomberg News

listed Taiwanese company that leased an Airbus helicopter in 2016 to a local company that defaulted on rent has vowed to fight the legal challenges it now faces all the way to the Supreme Court.

The Chailease Group, with a market capitalization of US$11 billion and assets of more than US$21 billion, said it has “overwhelming documentary evidence” to prove CAPP Industries, Inc. of Christopher Pastrana was not the owner of the subject helicopter but was instead a lessee.

The lease agreement, Chailease said in a statement, was signed at the Alabang office of Pastrana in the presence of his lawyers. It also said that Singapore or New York should be the venue in resolving any dispute between the parties.

However, acting on a case filed

by Pastrana, the Pasay City prosecutor’s office issued a resolution late last year declaring CAPP the owner, after reviewing in seven days about 1,000 pages of financial contract documents.

The prosecutor based its finding partly on an unsigned bill of sales, saying it was enough to show an agreement “in principle,” Chailease noted.

The prosecutor then filed a case of qualified theft—which is the taking of property from an owner—against the officials of Chailease based in Manila.

Aside from fighting in the lo-

cal court, Chailease is considering taking Pastrana to arbitration in New York as required in the agreement.

Jose Bernas, legal counsel of Chailease, said the findings were “without basis” since “we have all the documents that would show Chailease as the owner, that it was a financial lease, that we notified Mr. Pastrana of his several failures to pay rent on time, and informed him that we had to cover for his failure to pay the insurance premiums since the unit must be insured at all times, among other default events”.

Pastrana had the option to buy the unit at the end of the contract or at any time a payment is due by paying a residual value of $1.2 million which was clearly provided for in the lease contract, Bernas said.

Chailease eventually declared on Oct. 21, 2021 Pastrana in default, terminated the contract, took back the unit, and got a re-export permit from the Civil Aviation Authority of the Philippines which listed Chailease as the owner.

“As in a car loan where you are the buyer and owner only after full payment, just as an example to follow his thinking, if you fail to pay the periodic dues, the unit will be taken away”, Bernas said.

Bernas said a financial lease is no different from leasing a car or heavy equipment, with the lessor

buying the equipment and leasing it to the lessee who is freed from shelling out a substantial amount upfront. The lessee has to pay an initial amount as equity, which in this case was $700,000.

Chailease, he said, bought the helicopter for $3.7 million and extended to CAPP a lease facility of $3 million. Pastrana offered as guarantor his other corporations such as JAM Liner, Philtranco Service Enterprises, and Archipelago Philippines Ferries Corp.

Pastrana, in his complaint in Pasay, said he thought all along that the documents he signed were just needed for the importation of the unit into the Philippines and that he would be the owner, not the lessee.

Bernas said Pastrana is an experienced, educated, successful businessman to not know what he was getting into.

He added that Pastrana, in August 2016, two months before the lease agreement was signed, even ema i led C ha i lease asking for a copy of the draft lease agreement, adding that the “contents…is (sic) very important to us to understand our obligation and the terms and conditions required…”

He also executed under oath in July 2016 an affirmation that “I accepted and gave my conformity to the ‘H130 finance lease offer letter’ from Chailease…by affixing my signature thereon”.

Iberdrola, Triconti eye wind projects E nergy giant Iberdrola is partnering with local wind energy developer Triconti Windkraft Group and Swiss-based Stream Investment Holding for the development of offshore wind projects in the Philippines.

The agreement among the parties allows the Spanish energy firm to enter the Philippine energy industry and co-develop with Triconti a portfolio of offshore wind projects that aims to contribute 3.5 gigawatts(GW) of capacity to power to the country.

They will develop five offshore wind areas located in shallow waters off the coast of areas in Luzon and the

Visayas, which are the first offshore wind service concessions awarded in the country by the Department of Energy to Triconti.

Iberdrola’s entry into the Philippines is aligned with its long-term strategy to become a major player and partner in the Asia-Pacific region, diversifying the geographical locations of its wind project pipelines and entering developing markets with strong potential for growth. It currently operates 34.9 GW of renewables globally and now adds the Philippine market to its pipeline of over 81.5 GW of renewable projects under development. Lenie Lectura

STOCK-MARKET OUTLOOK Last week

Share prices gained last week mainly on bargain hunting, as investors picked up cheap stocks amid the spike in Covid-19 cases.

The benchmark Philippine Stock Exchange index gained 250.23 points to close at 7,261.34 points.

The main index was up in three out of five trading days as many investors shrugged off the spike in the country’s Covid-19 cases.

2TradeAsia said investors are banking on arguments that the country has almost reached the crest of omicron’s infection curve and that cases may start to decline in the coming days.

“Trends in recent trading sessions show that markets seem to agree,” the broker said.

Average value of trade for the week was still low at P5.87 billion. Foreigners were kept on the sidelines, accounting for just 37 percent of the trade but were net buyers at P58.9 million.

All other sub-indices ended in the green, led by the All Shares index that gained 109.69 points to close at 3,855.30 points, the Financials index surged 80.34 to 1,662.48, the Industrial index rose 270.09 to 10,380.90, the Holding Firms index added 217.23 to 7,063.03, the Property index increased 148.35 to 3,217.10, the Services index was up 34.71 to 1,976.48 and the Mining and Oil index soared 562.19 to 10,087.09.

For the week, gainers edged losers 159 to 64 and 23 shares were unchanged.

Top gainers for the week were Solar Philippines Nueva Ecija Corp., The Keepers Holdings Inc., Dizon Copper-Silver Mines Inc., Integrated Micro-Electronics Inc., ATN Holdings Inc. A, National Reinsurance Corp. of the Philippines and Cirtek Holdings Philippines Corp.

Top losers, meanwhile, were Philippine Racing Club Inc., ACE Enexor Inc., First Abacus Financial Holdings Corp., Leisure and Resorts World Corp., Acesite (Phils.) Hotel Corp., Asiabest Group International Inc. and Philippine Trust Co.

This week

Share prices may fall this week as investors are expected to pocket the gains they made the previous week. Analysts believe that many are still maintaining their cautious stance on the market.

“We may see selling pressures take over the market following its 3.57 percent rally last week. The said rally may not yet be sustainable as investors are expected to maintain a cautious stance,” said Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc. “This is as economic losses are still mounting given that the alert level 3 restrictions have been extended in the National Capital Region and other key economic areas, and have been implemented in more parts of the country.”

The market, however, is still active with Haus Talk Inc. making its stock market debut on Monday and DITO CME ending its rights offering on Tuesday.

“Offshore concerns, particularly the Federal Reserve’s possible monetary tightening this year amid the United States hot inflation, may also continue to weigh on sentiment.

Finally, no strong positive catalyst has been seen yet for the local bourse,” Tantiangco said.

Chartwise, the market’s support is still seen at the 7,000-7,100 range. Its resistance is seen at 7,300, he said.

“Against a constantly changing backdrop, flexible trading strategies reign supreme.

These include picking inflation hedges when needed, and switching exposure from highly cyclical growth plays to defensives when the Covid-19 curve steepens,” 2TradeAsia said.

Stock picks

Broker Regina Capital Development Corp. advised to take profits on the stock of DITO after a sudden spike in its share price last week allowed it to break out past its monthly consolidation range.

“DITO is just a few points away from being overbought, which means that a pullback is looming. The first resistance level that could test and likely prompt a correction is DITO’s two-month peak of P6.24,” it said.

“Tread lightly and keep in mind that DITO’s recent rallies had, on average, only lasted for three days maximum.”

DITO’s shares closed Friday at P5.67 apiece.

Meanwhile, the broker advised to sell on rallies on the stock of Monde Nissin Corp. as its share price slightly pierced its P16.50 resistance level, but a continuation of the uptrend isn’t ensured yet.

“Previous rallies like this in the past few weeks saw Monde immediately correcting the day after. All things considered, there could be a challenge to the 17.00 resistance level in the works.”

Shares of Monde closed last week at P17.18 apiece. VG Cabuag

B2

Monday, January 17, 2022

Companies BusinessMirror

License of online lending platform revoked by SEC

T

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has revoked the license of Fynamics Lending Inc. to operate as a lending company over its repeated failure to comply with reportorial requirements.

In an order dated January 5, the SEC’s Corporate Governance and Finance Department (CGFD) upheld its earlier order dated December 6, 2021 revoking the Certificate of Authority of Fynamics, which operates online lending platform Pondo Peso, for its fourth violation of the Lending Company Regulation Act (LCRA) of 2007.

Rule 8(a) of the LCRA’s implementing rules and regulation provides that a lending company that has been duly registered and granted a CA shall file with the SEC reports/ manuals, including interim semiannual financial statements, in accordance with a designated schedule.

Fynamics failed to submit its 2020 Second Semester Interim Financial Statements on the February 15, 2021 deadline, as per SEC Memorandum Circular No. 3, Series of 2013—the fourth time that the company has not complied with the submission of the said report.

The CGFD gave Fynamics a chance to explain why its CA should not be revoked through a show cause letter dated July 7, 2021, and through a hearing on October 11, 2021. However, Fynamics failed to submit an explanation or appear in the hearing.

“Thus, in light of the company’s failure to respond to this department’s show cause letter and its continuous non-compliance with the reportorial requirements for lending companies, and considering that the Company was sufficiently notified and given opportunities to explain its position, this Department hereby finds that the revocation of the company’s CA is in order,” the CGFD said.

Further, Fynamics did not file an appeal, motion for reconsideration, or petition for certiorari following the SEC’s issuance of the order revoking the company’s CA. In addition to its failure to comply with reportorial requirements to the SEC, the CGFD has also previously penalized Fynamics for its first and second violations of SEC Memorandum Circular No. 18, Series of 2019, which provides the Prohibition on Unfair Debt Collection Practices of Financing Companies and Lending Companies. “[I]n view of the foregoing, and in accordance with Part IV, Rule II, Sec. 2-4(a) of the [Revised Rules of Court], the Order revoking the Certificate of Authority to Operate as a Lending Company of Fynamics is final and executory.”

www.businessmirror.com.ph

SHDC taps Globe for Internet service

By Lorenz S. Marasigan @lorenzmarasigan

G

lobe Telecom Inc. said over the weekend it was tapped by Summerhills Home Development Corp. (SHDC) for the provision of Internet connectivity for 4,500 households in Batangas.

Globe said it has deployed KonekTayo WiFi, a community WiFi service that provides households with an affordable internet connection without the need for a modem, postpaid subscription, or mobile data.

“Working with SHDC is another milestone for Globe and KonekTayo WiFi to make reliable and affordable connectivity accessible to more Filipino households. With the enduring need for accessible connectivity, our efforts to connect more Filipino

families also continue. We’re grateful to have the collaborative support of SHDC to make this happen in various locations in Batangas,” said Janis Racpan, Director of Business Development and Marketing, Globe Digital Solutions Group.

SHDC is the socialized housing arm of SM Property group. Beneficiaries of the KonekTayo WiFi are the residents of three housing projects in Sta. Teresita, Sta. Tomas, Batangas.

Following the project in Batangas, Racpan said Globe aims to “speed up local deployments of KonekTayo WiFi in other parts of the Philippines to reach and support more Filipinos.”

Globe is strengthening its Internet connectivity business as the pandemic continues to force Filipinos to work and study at home.

mutual funds

January 14, 2022

NAV One Year Three Year Five Year per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

233.42

1.45%

-3.98%

-1.62%

0.14%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6361

23.05%

2.83%

3.77%

-1.69%

-7.68%

-4.35%

-0.14%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2334

1.82%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7579 -6.42%

-6.78% n.a.

0.19%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.761

-4.38% n.a.

-1.28%

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

1.6%

5.1624

2.91%

-2.5%

0.19%

-0.39%

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

0.7818

2.05%

-3.91%

-3.18% -0.19%

-7.04% n.a.

MBG Equity Investment Fund, Inc. -a

95.74

-6.87%

PAMI Equity Index Fund, Inc. -a

47.9299

0.92%

-2.7%

-0.07%

Philam Strategic Growth Fund, Inc. -a

501.38

1.29%

-2.48%

-0.56%

0.14%

Philequity Alpha One Fund, Inc. -a,d

1.1723

5.64% n.a. n.a.

0.83%

1.39% -0.41%

Philequity Dividend Yield Fund, Inc. -a

1.3898

17.2%

1.94%

2.68%

2.47%

Philequity Fund, Inc. -a

36.6101

3.88%

-1.69%

1%

0.04%

-2.97% n.a.

0.36%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9448

2.1%

Philequity PSE Index Fund Inc. -a

4.9412

1.7%

-2%

0.54%

-0.4%

Philippine Stock Index Fund Corp. -a

825.29

1.51%

-2.01%

0.5%

-0.39%

Soldivo Strategic Growth Fund, Inc. -a

0.7501

2.84%

-5.88%

-2.55%

-0.33%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.768

2.57%

-4.02%

-0.91%

-0.2%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9405 1.05%

-2.34%

0.29%

-0.42%

United Fund, Inc. -a

-2.49%

0.97%

-0.43%

0.99%

-0.37%

3.4226

1.96%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 111.0653 1.81% -1.78%

Primarily invested in foreign currency securities $1.1606

-10.3%

6.71%

5.88%

3.03%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.816

ATRAM AsiaPlus Equity Fund, Inc. -b

6.57%

16.02%

11.46%

-1.65%

0.28%

Balanced Funds Primarily invested in Peso securities

Glaxo rejects Unilever bid for consumer unit

G

laxoSmithKline Plc said it rejected an offer from Unilever Plc for the drugmaker’s consumer healthcare unit last year that valued the business at about 50 billion pounds ($68 billion).

Glaxo in a statement Saturday said that it had received three unsolicited offers from Unilever for its consumer healthcare business, the final one on December 20 for 41.7 billion pounds in cash and 8.3 billion pounds in Unilever shares.

“GSK rejected all three proposals made on the basis that they fundamentally undervalued the Consumer Healthcare business and its future prospects,” the statement said.

Unilever confirmed the approach in a statement on Saturday, saying the Glaxo unit would be a “strong strategic fit” as the owner of Ben & Jerry’s ice cream and Dove soap reshapes its portfolio.

Unilever is still interested and could return with a fresh bid, though no final decision has been made, people familiar with the bid told Bloomberg. Glaxo’s board still prefers the planned spin-off of a business that includes brands such as Sensodyne toothpaste and Advil painkillers.

A potential takeover would rank among the top deals globally since the beginning of the coronavirus pandemic, and comes at a time when mergers and acquisitions activity is at an all-time high. A deal would speed the transformation of two of the United Kingdom’s biggest companies, each of which is facing shareholder pressure to improve performance.

With analysts valuing the Glaxo

ATRAM Dynamic Allocation Fund, Inc. -a

1.6967

0.53%

-0.36%

-0.35%

ATRAM Philippine Balanced Fund, Inc. -a

2.2886

-0.9%

0.07%

0.08%

0.31%

First Metro Save and Learn Balanced Fund Inc. -a 2.6879

1.41%

0.49%

1.44%

-0.12%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2118

5.74% n.a. n.a. 1.34%

NCM Mutual Fund of the Phils., Inc. -a 2.0145

1.66%

2.06%

1.94%

-0.11%

PAMI Horizon Fund, Inc. -a

3.7711

-1.11%

1.79%

0.78%

Philam Fund, Inc. -a

16.871

-1.09%

1.25%

0.72%

0.15%

Solidaritas Fund, Inc. -a

2.1227

0.45%

-0.16%

0.65%

0.06%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6416 1.07%

-1.21%

consumer business at as much as 48 billion pounds, any successful offer from Unilever would likely have to include a significant premium over that level, as well as a consideration of synergies, to tempt Glaxo away from the spin-off plan, which is already at an advanced stage.

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7455

Dental business

Bond Funds

The dental business is the main draw in Glaxo’s consumer portfolio, offering the biggest growth as almost all other businesses and brands are either losing momentum or growing slowly, the people said. The consumer health unit took on its current shape in 2019 after a deal with Pfizer Inc., which retains a minority stake. Glaxo said that it expects the unit “to deliver annual organic sales growth in the range of 4 percent-6 percent over the medium term.”

Glaxo Chief Executive Officer Emma Walmsley has been under pressure from shareholders, including activist fund Elliott Investment Management, to be more open to a sale of the consumer division as it seeks to revitalize the core pharmaceutical business. The company hired former Tesco Plc chief executive Dave Lewis in December to lead a spin-off and listing of the consumer goods arm.

Glaxo previously had interest from Advent International, CVC Capital Partners and KKR & Co. for the business, even as it had been preparing for the listing last fall.

Unilever CEO Alan Jope is also under pressure from some investors over the company’s poor performance of late. Bloomberg News

0.16%

0.04%

-0.15%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9823

-4.52% n.a. n.a.

-0.76%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9428

-1.68% n.a. n.a.

-0.18%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9318

-1.25% n.a. n.a.

-0.22%

Sun Life Prosperity Dynamic Fund, Inc. -a

6.63%

0.9582

0.13%

0.54%

0.42%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.03741

-3.58%

1.85%

1.08%

-1.4%

$1.0796

-9.81%

4.44%

3.68%

1.17%

3.74%

11.39%

8.42%

-1.18%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1868 0.01%

6.06%

4.29%

-0.98%

PAMI Asia Balanced Fund, Inc. -b

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

374.43

0.88%

2.89%

2.55%

0.03%

ATRAM Corporate Bond Fund, Inc. -a

1.8859

-0.85%

0.56%

0.05%

0.06%

Cocolife Fixed Income Fund, Inc. -a

3.2474

0.98%

2.94%

3.88%

0.1%

Ekklesia Mutual Fund Inc. -a

2.2519

-1.86%

1.77%

1.4%

0.02%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4283 -0.89%

3.04%

1.86%

0.09%

Philam Bond Fund, Inc. -a

4.4035

-4.84%

4.73%

1.47%

0.18%

Philam Managed Income Fund, Inc. -a

1.323

0.19%

3.95%

2.9%

0.3%

Philequity Peso Bond Fund, Inc. -a

3.9806

-0.1%

3.88%

2.7%

0.37%

Soldivo Bond Fund, Inc. -a

0.14%

1.0296

-0.93%

4.56%

1.98%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1914

-0.22%

4.57%

3.19%

0.13%

Sun Life Prosperity GS Fund, Inc. -a

-0.76%

3.74%

2.59%

0.22%

1.7344

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

$489.09

1.18%

2.9%

2.43%

-0.1%

ALFM Euro Bond Fund, Inc. -a

Є219.61

0.14%

1.11%

0.97%

-0.18%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2002

-4.59%

2.01%

1.62%

-0.31%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0258 -1.9%

1.19%

0.79%

-0.77%

PAMI Global Bond Fund, Inc -b

$1.0106

-6.84%

-0.88%

-0.93%

-1.19%

Philam Dollar Bond Fund, Inc. -a

$2.4687

-1.79%

4.11%

2.29%

-1.48%

Philequity Dollar Income Fund Inc. -a $0.0622546 0.07%

2.96%

1.95%

-0.06%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1296 -1.86%

2.77%

1.12%

-2.08%

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

2.56%

0.05%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0584 0.97% n.a. n.a.

131.25

1.05%

0.07%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3164

0.06%

1.46%

2.74% 2.56%

2.53%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0608

0.76%

1.43% n.a.

0.02%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.393

20.55% n.a. n.a. 0.73%

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

Banking&Finance

Solon pushes for bill penalizing phishing

By Jovee Marie N. dela Cruz @joveemarie

A

S session resumes January 17, a senior lawmaker urged Congress last Sunday to act swiftly on a measure adding more teeth to efforts of regulatory agencies to combat cybercrimes by penalizing social engineering schemes, commonly known as “phishing.”

Camarines Sur Rep. Luis Ray F. Villafuerte Jr. said the recently committeeapproved measure aims to regulate the use of bank accounts and electronic wallets and consider certain illegal financial acts related to their use as a form of economic sabotage and a heinous crime if done on a large scale.

“Our ongoing efforts to accelerate the country’s digital switch must be complemented by measures to safeguard consumers against cyber threats and other illegal online schemes,” Villafuerte said.

“The recent gains in the digitalization of financial services should not result to adverse consequences for our people, especially during this prolonged pandemic.”

The House Committee on Banks and Financial Intermediaries is now preparing a report for the panel’s immediate final approval and for endorsement of the proposal to the plenary.

The Congress has only three weeks or nine session days to finish some priority measures before it adjourn for the election period on February 5 in time for the start of the campaign period for nationally-elected positions on February 8.

Villafuerte noted that the incidence of cybercrime has risen with the rapid shift in the way people live and use the Internet to interact both socially and economically.

“It is unsurprising that criminals have taken advantage of the digitalization of banking, payment and related systems. Covid-19 has presented several new opportunities for cybercriminal exploitation, including remote work, virtual crime and persistent threats,” he said.

Villafuerte further said that while banks have increased efforts in addressing cybercrimes and consumers have also become increasingly vigilant against

such offenses, the Philippines still has no law against the use of financial accounts as accessory to a financial crime.

“Worse, there is no punishment that can deter these criminal actions,” he added.

Villafuerte said his proposal, House Bill 10141, enumerates and defines punishable offenses such as money mule and phishing. These were re-worded by the committee under the substitute bill to read as “social engineering schemes” upon the recommendation of the Bangko Sentral ng Pilipinas (BSP) and to be consistent with existing laws and regulations.

The approval of the substitute bill seeking to regulate the use of bank accounts and e-wallets came on the heels of the recent cyberhacking incident involving an estimated 700 clients of BDO Unibank Inc. These individuals complained about unauthorized online transactions that siphoned out a part of their respective deposits.

Under the substitute bill, the BSP is authorized to investigate cases involving violations under the measure and to apply for cybercrime warrants and orders mentioned in Chapter IV of Republic Act (RA) 10175 or the Cybercrime Prevention Act of 2012.

Also, the bill prohibits any person to act as a “money mule,” which includes opening a bank, e-wallet or other financial account and using or allowing the use thereof, to receive or transfer or withdraw proceeds derived from crimes, offenses or social engineering schemes.

The bill also prohibits the opening of a bank account, an e-wallet account or other financial account under a fictitious name or using the identity or identification documents of another to receive or transfer or withdraw proceeds derived from crimes or offenses. The measure seeks to penalize any person performing any social engineering schemes, commonly known as “phishing.”

Under the bill, any person found guilty of any of the offenses that constitutes economic sabotage shall be punished with life imprisonment and a fine of not less than P1 million but not more than P5 million.

BusinessMirror

T

By Bianca Cuaresma

Q

Continuous evolution of the quantum computing landscape

ALTHOUGH quantum technology is still at a nascent stage, it is evolving at a rapid pace. This has resulted in several new approaches towards the development of quantum technology.

For example, there are several different approaches towards building a quantum computer depending on the type of qubit technology used at the hardware layer. It is then difficult to identify which specific technological approach will be able to withstand the pressure of time and prove its suitability for running commercial applications.

Lack of identification of business use cases

ALTHOUGH quantum computing offers tremendous potential, companies are still cautious in adopting it.

In a survey conducted by KPMG in September 2021, only 56 percent of companies said they had undertaken any work to explore the risks of quantum technologies and the opportunities they may offer their business. That leaves 44 percent of companies having yet to take ac-

@BcuaresmaBM

HE Credit Information Corp. is looking to enable the issuance of individual CIC Credit Reports through financial institutions authorized to access the CIC’s database.

In a survey conducted in the fourth quarter of 2021, over 50 of the CIC’s so-called “accessing entities,” an insurance company and a government financial institution (GFI) signified interest to enable their clients to directly access the CIC Credit Reports through them.

Aside from insurance firms and GFIs, “accessing entities” include rural banks, leasing companies, private financing corporations, thrift banks, microfinance enterprises and universal banks.

“We expect the direct-to-consumer [DTC] credit reports to

further strengthen the agency’s mandate to provide Filipinos with immediate access to their credit information,” CIC President and CEO Ben Joshua A. Baltazar said.

“This will also expedite the process of getting a credit report which is currently available only through CIBI Information Inc., one of our accredited credit bureaus.”

Baltazar said access to CIC Credit Reports, especially during this pandemic, provides improved credit-decisioning and allows for an opportunity for accessing financial institutions to re-engage with their clients on the matter of creditworthiness and lending.

“Apart from driving fresh consumer interest to their institution—be it physically or virtually—this “DTC through AE” ini-

tiative is an avenue for our AEs to engage their clients during this pandemic,” the CIC CEO said.

Under the CIC’s plan, financial institutions, on behalf of their clients, may provide credit reports by directly accessing the CIC database or through their preferred Special Accessing Entity (SAE) or CIC’s accredited credit bureaus: CIBI Information, Inc.; CRIF D-B Philippines Inc.; and, TransUnion Information Solutions Philippines Inc. Financial institutions are now also being consulted on implementing appropriate internal procedures to ensure a safe and efficient process when issuing CIC Credit Reports to their individual clients.

CIC said the plan is expected to be rolled out in the first quarter of this year.

Financial health provider targets 100,000 freelancers

By Tyrone Jasper C. Piad @Tyronepiad

F

INANCIAL health platform Gigacover Philippines Pte Ltd is targeting to onboard 100,000 Filipino freelancers this year amid the growing gig economy.

“An increasing number of these gig workers are fast realizing the importance and need for safety nets to provide them with some form of financial security, especially considering the volatile nature of their work,” Gigacover Co-Founder and CEO Amerson Lin told the BusinessMirror.

Given the anticipated demand, the company is expanding its coverage and service offerings this year as well to meet the needs of the market.

Lin said these include full-time

employee benefits, parcel insurance for e-commerce and logistics partners and motor insurance for car rental marketplace owners.

The motor insurance, in particular, is deemed crucial given the considerable number of gig workers who rent vehicles to support ride hailing and delivery work, he added.

“These products will be backed by Gigacover’s innovative capabilities, as well as the company’s extensive expertise and experience in other Asian markets, ensuring their relevance to today’s gig workers,” the Gigacover official said.

Lin stressed the importance of providing insurance coverage for freelancers or gig workers as these are “safety nets” when they are unable to work.

Without paid leave or medical benefits, he pointed out that insurance can help the freelancers to avoid loss of income.

The Gigacover official, as an example, said that its freelancers earnings protection insurance allow workers to access “a form of paid medical or sick leave which is typically only enjoyed by those who are regularized.”

The financial services provider is working in partnership with Etiqa Life & General Assurance Philippines Inc. and Aventus Medical Care Inc. to provide insurance and healthcare options for their clients.

“We are excited to play a leading role in providing inclusive benefits and improving the social security of the Philippines’ gig workforce. Be-

yond just a typical insurance provider, Gigacover is a financial platform that works with insurance companies and financial institutions to provide benefits tailored to the gig workforce in Southeast Asia,” Lin said.

“We are happy to partner with Gigacover and provide access to their members and policyholders medical services in our outpatient clinics.

We will continue to work with Gigacover on relevant new and affordable services,” Aventus Medical SVP and COO Racquel R. Cagurangan said.

Citing reports, Gigacover noted that the Philippines has the thirdlargest unbanked and underbanked population in Southeast Asia, in addition to having over 1.5 million Filipino freelancers in the gig economy.

Treasury market must now face supply shifts

Unlocking the business value of quantum computing few years away from being commercially available. However, this has not discouraged enterprises from investing in or exploring it.

IDC predicts that the number of organizations putting aside more than 17 percent of their annual IT budgets for quantum computing would rise to 19 percent by 2023.

What are the challenges in the adoption of quantum computing?

B3

Individuals may soon access credit information via banks

Perspectives UANTUM computing is gradually transitioning from being a futuristic concept to slowly and steadily making its way to solving real-life problems. While it is still in the exploratory stages, in the future it is expected to have a very high impact by helping to solve problems that current computing power is not able to, and in the process, creating an industry worth $86 billion by 2040.

Looking at the promise and potential impact of quantum computing on the economy and business, several countries are funding research and development programs. Overall, there are 15 countries across the world with well-defined national initiatives in quantum technology, with approximately $23 billion of funding announced to date. The UK government, in partnership with industry, has invested £1 billion to commercialize quantum innovations and attempt to secure the UK’s status as a world leader in quantum science and technologies. Governments are not the only ones taking steps towards building a quantum future.

Technology firms are also investing millions of dollars in developing quantum computers, and equity funding for start-ups in quantum computing has risen by five-fold since 2015.

With this hype around quantum computing, one cannot but wonder whether enterprises are exploring the associated risks and opportunities. Quantum computing, due to complex hardware and software requirements, is still a

Editor: Dennis D. Estopace • Monday, January 17, 2022

tion regarding quantum technology. This cautious approach can be attributed to the challenges faced in identifying the right business problems that cannot be solved by classical computers and require quantum computing.

Shortage of skilled resources Quantum computers are radically different from classical computers and require specialized skills that are in short supply. Development of quantum computing capabilities requires people who understand physics, mathematics, and computing.

What is more, companies experimenting with quantum computing need employees who can provide an understanding of the business and therefore are able to identify the specific problems that require the maturity and ecosystem of quantum computing. A combination of such skills can be very difficult to find.

There is no denying that quantum computing delivers significant advantages over traditional computing, so what steps can businesses take to help ensure they overcome these challenges and realize the potential benefits.

The excerpt was taken from the KPMG Thought Leadership publication “Unlocking the Business Value of Quantum Computing.”

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.

T

HE Treasury market is facing a patch of supply-related cross-currents that may complicate the path for yields as they move higher.

That course will get backing from the latest reduction in US government bond purchases by the Federal Reserve, which will buy just $40 billion of the Treasuries over the next month, half the amount they once gobbled up. For the first time since the most recent program of so-called quantitative easing began in March 2020, they’ll no longer occur daily. At the same time dealers will be busy estimating just how much the Treasury department will trim the size of its auctions when it announces its quarterly plans for sales.

Yields on US debt maturing in the coming decade have climbed in the past two weeks back up to levels seen before the pandemic roiled global markets in early 2020, with the rate on the benchmark 10-year note climbing more than 25 basis points this year.

The shift reflects mounting expectations that the Fed will raise overnight interest rates at least three times this year, if not four, and also that it will eventually stop replacing the Treasuries it holds when they mature. A decision on that may not come before March, however, when the programing adding new assets to the balance sheet is slated to end.

Increasing the pace at which the Fed dials back its bond buying “is akin to loosening the nuts on the training wheels and the bike will be a little more wobbly for the market to ride,” said William O’Donnell, strategist at Citi. “In March the training wheels come off. The question is how much of the Fed buying less Treasuries is already priced in by the market given the rise in yields we have seen so far this year.”

The Fed’s latest tapered purchase

schedule includes 10 operations from January 18 to February 10.

Previous monthly schedules have had 18 operations, typically one each trading day.

The purchases, which have added $3.12 trillion of Treasuries to the Fed’s stockpile since March 2020, have left a massive footprint. Initially undertaken to restore liquidity—which briefly vanished as the onset of the pandemic led to wholesale dumping of financial assets—the purchases continued as a way to further support the US economy after the Fed’s policy rate had been cut to around zero.

While all of the purchases are done according to a pre-announced schedule, its decisions about how to allocate its purchases across the maturity spectrum have been market-moving on multiple occasions. The prospect of less buying by the Fed leaves Treasury dealers more completely at the mercy of investors.

“On balance we can expect more volatile coupon auctions as there will effectively be more supply for the market to buy,” O’Donnell said.

The 10-year yield ended Friday at 1.78 percent, notching its fourth straight weekly increase. Treasuries have lost 1.8 percent so far this year, on top of a 2.3-percent loss last year, the first annual decline since 2013, based on the Bloomberg Treasury Index.

Strategists at Morgan Stanley forecast the 10-year Treasury yield will rise to 2.2 percent in the second quarter and end the year at 2.3 percent. They predict the Fed will raise rates 25 basis points each quarter. Money-market traders, who as recently as June expected the Fed to keep rates unchanged through the end of this year, now assign nearly 100-percent odds to hikes beginning in March. While Fed officials on average in December forecast three rate increases this year, several this month have said a March

hike is needed to combat the hottest inflation in a generation.

Meanwhile, the Treasury Department, which reduced the size of coupon-bearing dsebt auctions in November for the first time in five years to bring them in line with lower-than-anticipated government expenses, is expected to do so again in February, regardless of the Fed’s plans. But on Friday, its quarterly survey of primary dealers asked for their views on how a decision by the Fed to allow its holdings to run off might affect “financing needs and issuance decisions.”

The prospect of the Fed allowing some of its Treasury holdings to mature probably won’t forestall auction size cuts in February, but it makes subsequent reductions less likely, said Lou Crandall, chief economist at Wrightson ICAP LLC. “As we move through this year we will in all likelihood, we don’t know the future but if things develop as expected, we’ll be normalizing policy,” Fed Chairman Jerome Powell told the Senate Banking Committee Tuesday under questioning at his confirmation hearing for a second term as central bank chief. “Meaning we are going to end our asset purchases in March, we’ll be raising rates over the course of the year, and at some point—perhaps later this year—we’ll start to allow the balance sheet run off.”

The Fed’s next two-day meeting will wrap on January 26. While interest-rate strategists expect a decision on balance-sheet runoff no sooner than June, messaging may start sooner.

“Investors are debating what the Fed will tell us at the end of the month,”said Matthew Hornbach, global head of macro strategy at Morgan Stanley. “Most investors looking at Treasuries will err on the side of caution until after the January Fed meeting.” Bloomberg News

Explainer BusinessMirror

B4 Monday, January 17, 2022

www.businessmirror.com.ph

Radicalization pipelines:

Hello6373 | Dreamstime.com

How targeted advertising on social media drives people to extremes

By Jeanna Matthews | Clarkson University

H

The Conversation

AVE you had the experience of looking at some product online and then seeing ads for it all over your social-media feed?

Far from coincidence, these instances of eerily accurate advertising provide glimpses into the behind-the-scenes mechanisms that feed an item you search for on Google, “like” on social media or come across while browsing into custom advertising on social media.

Those mechanisms are increasingly being used for more nefarious purposes than aggressive advertising. The threat is in how this targeted advertising interacts with today’s extremely divisive political landscape. As a social-media researcher, I see how people seeking to radicalize others use targeted advertising to readily move people to extreme views.

Advertising to an audience of one

Advertising is clearly powerful. The right ad campaign can help shape or create

demand for a new product or rehabilitate the image of an older product or even of an entire company or brand. Political campaigns use similar strategies to push candidates and ideas, and historically countries have used them to wage propaganda wars.

Advertising in mass media is powerful, but mass media has a built-in moderating force. When trying to move many people in one direction, mass media can only move them as fast as the middle will tolerate. If it moves too far or too fast, people in the middle may be alienated.

The detailed profiles the social-media companies build for each of their users make advertising even more powerful by enabling advertisers to tailor their messages to individuals. These profiles often include the size and value of your home, what year you bought your car, whether you’re expecting a child, and whether you buy a lot of beer.

Consequently, social media has a greater ability to expose people to ideas as fast as they individually will accept them. The same mechanisms that can recommend a niche consumer product to just the right person or suggest an addictive substance just when someone is most vulnerable can also suggest an extreme conspiracy theory just when a person is ready to consider it.

It is increasingly common for friends and family to find themselves on opposite sides of highly polarized debates about important issues. Many people recognize social media as part of the problem, but how are these powerful customized advertising techniques contributing to the divisive political landscape?

Breadcrumbs to the extreme

One important part of the answer is that people associated with foreign governments, without admitting who they are, take extreme positions in social-media posts with the deliberate goal of sparking division and conflict. These extreme posts take advantage of the social-media

algorithms, which are designed to heighten engagement, meaning they reward content that provokes a response.

Another important part of the answer is that people seeking to radicalize others lay out trails of breadcrumbs to more and more extreme positions.

These social media radicalization pipelines work much the same way whether recruiting jihadists or Jan. 6 insurrectionists.

You may feel like you’re “doing your own research,” moving from source to source, but you are really following a deliberate radicalization pipeline that’s designed to move you toward more and more extreme content at whatever pace you will tolerate. For example, after analyzing over 72 million user comments on over 330,000 videos posted on 349 YouTube channels, researchers found that users consistently migrated from milder to more extreme content.

The result of these radicalization pipelines is apparent. Rather than most people having moderate views with fewer people holding extreme views, fewer and fewer people are in the middle.

looking up from their phones an hour or more later having little idea how or why they read or watched what they just did.

It is designed to be addictive.

I’ve been trying to chart a more deliberate path to the information I want and actively trying to avoid just clicking on whatever is recommended to me. If I do read or watch what is suggested, I ask myself “How might this information be in someone else’s best interest, not mine?”

Second, consider supporting efforts to require social-media platforms to offer users a choice of algorithms for recommendations and feed curation, including ones based on simple-to-explain rules.

Third, and most important, I recommend investing more time in interacting with friends and family off of social-media. If I find myself needing to forward a link to make a point, I treat that as a warning bell that I do not actually understand the issue well enough myself. If so, perhaps I have found myself following a constructed trail toward extreme content rather than consuming materials that are actually helping me better understand the world.

How to protect yourself

This article is republished from The Conversation under a Creative Commons license.

Read the original article here: https://theconversation.com/radicalization-pipelineshow-targeted-advertising-on-social-media-drives-people-to-extremes-173568.

What can you do? First, I recommend a huge dose of skepticism about social-media recommendations. Most people have gone to social-media looking for something in particular and then found themselves

Slain officer’s sister sues Facebook for wrongful death

By Daisy Nguyen The Associated Press

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AKLAND, California—The sister of a slain federal security officer is suing Facebook, alleging the tech giant played a part in the radicalization of two men who are accused of planning the killing on its platform.

David Patrick Underwood was fatally shot and his partner was wounded while guarding a federal building in Oakland on May 29, 2020, when a large demonstration over the police killing of George Floyd was underway nearby. Federal prosecutors said two men now awaiting trial in the drive-by shooting met through a Facebook group page dedicated to the extremist anti-government “boogaloo” movement, and used the protest as cover

for the crime.

The wrongful death lawsuit against Facebook’s parent company Meta was filed Thursday in Alameda County Superior Court. It seeks at least $25,000 in damages.

“Facebook bears responsibility for the murder of my brother. As the lawsuit alleges, Facebook knowingly promoted inflammatory and violent content and connected extremists who plotted and carried out the killing of my brother," Angela Underwood Jacobs said in a statement.

The lawsuit alleges that Facebook employed its proprietary algorithms to steer users to extremist groups as a way to keep them active on the platform, which in turn drives advertising sales and revenue.

“We believe and intend to show that Facebook’s conduct has led to a rise in extremism

throughout the world and acts of real-world violence, including the murder of Officer Underwood,” the sister's attorney, Ted Leopold, said. “It is time that Facebook is finally held accountable for its actions.”

Federal prosecutors have said Steven Carrillo, an Air Force sergeant, met his accomplice Robert Alvin Justus Jr., through a Facebook boogaloo group where they agreed to take advantage of the racial justice protests to attack law enforcement officers. Messages obtained by investigators show the men agreed to meet in person and drive to the Oakland protest, where prosecutors said Carrillo fired at Underwood and his partner with a homemade assault rifle before fleeing.

Carrillo was arrested eight days later after he shot and killed a Santa Cruz Sheriff's sergeant and wounded four other officers

who tracked down his vehicle in the community of Ben Lomond. Carrillo has pleaded not guilty to both killings. Court documents reveal Carrillo also had ties to a rightwing militia known as the Grizzly Scouts that held firearms trainings, scouted protests, and laid out terms of “war” against police.

After Underwood's killing, Facebook pledged to remove groups, accounts and pages affiliated with the far-right group from its services. But the lawsuit alleges groups tied to the boogaloo movement persist on the platform.

“We’ve banned more than 1,000 militarized social movements from our platform and work closely with experts to address the broader issue of internet radicalization. These claims are without legal basis,” said Kevin McAlister, a spokesman for Meta.

THIS combo of file images shows Steven Carrillo, left, provided by the Santa Cruz County Sheriff's Office, and Robert Alvin Justus Jr., in undated Department of Motor Vehicles photo provided by the FBI. Carillo has been charged in the fatal shooting of Federal Protective Services security officer David Patrick Underwood and the wounding of his partner, while Justus Jr., has been charged with aiding and abetting the murder and attempted murder, in the shooting in Oakland, California, on May 29, 2020. Santa Cruz County Sheriff's Office, left, and FBI via AP

Style

BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Monday, January 17, 2022

B5

Princess of the Universe 2021 u

v

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u UNICA RAIJA DE VERA, Qatar, Princess of the Universe 2021

v JEANELLE

SPITERI, Malta, First Runner-up

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HE second edition of Princess of the Universe, an online modeling competition for kids five to 17 years old which started at the height of the Covid-19 pandemic, finally pushed through. Unica Raija A. de Vera, a 12-year-old from Qatar, emerged as the winner for 2021. Rungravee Chimchanveck of Thailand won in 2020.

Unica’s dad Ricardo is an engineer at the Ministry of the Interior while mom Jeannie works at Qatar Investment. Her court is composed of Jeanelle Spiteri, 15, first runner-up, Best in Haute Couture and Best in Creative Shot; and Chanel Xerri, 8, second runner-up and Princess of the Catwalk awardee. Both hail from Malta.

“The purpose of the competition is to provide a platform for aspiring models around the world. Aside from being the Princess of the catwalk, each candidate is given an opportunity to become the voice of their own advocacy, such as environmental care, equal opportunities for children, and opposing child labor,” explains Mitch Desunia, the international fashion designer at the helm of the pageant.

I was part of the selection committee, along with Fil-Brit model/beauty queen Kacey Coleen, Polish fashion CEO Adrianna Mituniewicz, and Icelandic fashion designer Sigrún Björk Ólafsdóttir. We were tasked to assess the kids’ poise, appearance and modeling skills. The rest of the scores came from online votes.

w CHANEL

XERRI, Malta, Second Runner-up

Each candidate submitted slick and sweet videos of themselves sashaying, preening and flaunting their catwalk skills, wearing casual wear, formal gowns and national costumes. Special citations were given to Boukendoul Paris Alya of Malaysia (Ambassador of Goodwill Award), Akesha Suelan of Canada (Most Photogenic); Nicole Phemika Boonkaeo of Thailand (Face of the Year); Julicita Caroline Aca Powers of USA (Best in Catwalk); Marshaniswah of Indonesia (Best in Introduction Video); Yna Reyes of the Philippines (Most Promising Model); Angel Jane Ote of the United Kingdom (Most Glamorous Award); Athalia Badere

of the Philippines (Most Inspiring); and Tikompron Utansut of Thailand (Best Dressed).

As a brand which operates in Manila and London, Mitch Desunia advocates for women and children. As such, the company sees Princess of the Universe as an opportunity to create a platform for girls who want to become fashion models someday. Every reigning Princess will embody this purpose.

As the winner, Unica will be flown to New York and will walk for the Mitch Desunia Collection during fashion week in September. She will also be featured on a billboard along Times Square in New York City. Rungravee, the 2020

winner whose New York stint was canceled due to Covid, will also join Unica.

“Being Princess of the Universe, the winner has to maintain a good moral character, continue to become an inspiration to other girls who wish to become a model someday, and practice and document her advocacy,” Desunia adds.

Once the pandemic is over, Desunia intends to hold the Princess of the Universe modeling competition as a live event: “We have so many exciting plans for the competition. One thing is for sure— Princess of the Universe will soon become the talk of fashionistas across the globe, the universe rather.”

Sustainable body-loving butter

This eye cream is the best for first-timers ONE of my favorite Korean beauty brands—and I don’t have a lot—is Nacific. Their Fresh Cica Cream is a less expensive version of Embryolisse LaitCrème Concentré moisturizer. It’s moisturizing but not oily and can even be used as a makeup primer.

I use it at night on the dry spots on my face like the forehead and cheeks, and what happened was it seemed to fade some of my hyperpigmentation.

Nacific’s new skin-care line is called Origin Red Salicylic Acid, which includes a trio of products—toner, spot cream, wash-off serum— each containing Derma-Clera, a patented soothing ingredient derived from Cynanchum atratum extract which helps soothe sensitive skin. The Nacific Origin Red Line makes use of AHA, BHA and other naturally derived ingredients that are safe to use on acne-prone and sensitive skin.

The powerhouse ingredients—AHA and BHA— help exfoliate at different levels for skin that’s more radiant. Alpha hydroxy acid, or AHA, helps exfoliates dead skin cells while BHA is a potent ingredient that works to get rid of acne, blackheads and whiteheads.

The Nacific Origin Red Salicylic Acid is now available at the brand’s store on Shopee Mall.

Meanwhile, I’ve always been asked what my favorite eye cream is and I have a lot. For a firsttime eye cream user, I always recommend the Origins Ginzing Eye Cream. I’m not a skin-care snob but I believe eye cream is something you don’t scrimp on.

The Origins Ginzing eye cream, which has has been reformulated, is now known as “Vitamin C & Niacinamide Eye Cream To Brighten And Depuff.”

As suggested by the name, the reformulated eye cream contains vitamin C, niacinamide, ginseng and caffeine from coffee beans.

The Origins Ginzing Vitamin C & Niacinamide Eye Cream To Brighten And Depuff, as its long name suggests, depuffs, brightens and hydrates.

Even in its old formulation, the Ginzing eye cream was still pretty good.

Origins did a testing of its reformulated eye cream on 110 women for four weeks. About 93 percent of the women said their eyes looked brighter, more radiant and refreshed after four weeks.

Origins also did clinical testing on 110 women for a prolonged period and 86 percent of them said they had visibly reduced dark circles.

The Origins Ginzing Vitamin C & Niacinamide Eye Cream To Brighten And Depuff comes in two brightening tones: Original is ideal for fair-tomedium skin tones and cooler undertones while warm is for medium-to-deep skin tones and those with warmer undertones.

The jar and cap of the eye cream are made with 97 percent post-recycled consumer content.

It had been tested on all skin tones and is also ophthalmologist-tested (appropriate for contact lens wearers).

Here’s what it doesn’t contain: parabens, phthalates, propylene glycol, formaldehyde, sodium lauryl sulfate, mineral oil, petrolatum, paraffin, diethanolamine and polyethylene beads.

Get Origins from their LazMall store or send them a message on the Facebook and arrange for delivery service.

THE Body Shop launched the first-ever Body Butter in 1992. Created in the kitchen of no less than The Body Shop founder Dame Anita Roddick, the very first Mango Body Butter was given its name by her daughter who, while making a piece of toast, simply said, “It’s like butter—for your body.” The rest is history.

Today, these iconic moisturisers are loved so much that one is sold every three seconds across the world.

And these body-loving favorites just got even better.

The new Body Butters are now registered by The Vegan Society (a gold standard for vegan certification), made with at least 95 percent ingredients of natural origin, love skin with 96-hour moisture and come in their most sustainable packaging yet made with 100 percent recycled plastic tubs.

The new and improved Body Butters are made with at least 95 percent natural origin ingredients, including handcrafted Community Fair Trade shea butter from Ghana, which harnesses the nourishing power of Community Fair Trade shea butter from the Tungteiya Women’s Association in northern Ghana.

In true Fair Trade fashion, this helps provide financial independence for Ghanaian women.

Today, over 600 women from 11 villages handcraft the shea butter using an 18-stage process of traditional techniques, passed on from mother to daughter for generations.

Delivering 96 hours of intense moisture, their Body Butters leave your skin feeling soft and smooth without feeling sticky. In fact, in a The Body Shop study, over 90 percent users agreed the formula easily melts into skin and has a non-sticky feel and over 86 percent agreed the Body Butters made them feel good in their skin.

Love yourself with The Body Shop’s new, most nourishing and sustainable Body Butters ever for your skin type. There is Strawberry, British Rose, Pink Grapefruit, Satsuma for normal skin; Moringa, Mango and the new Avocado for dry skin; Shea, Coconut, Argan and Olive for very dry skin. There’s also Almond Milk for dry, sensitive skin.

Furthering its sustainability initiatives, the brand encourages its customers to join the Return, Recycle Repeat program in partnership with SM Cares. To be a part of the movement, simply return the Empty, Clean and Dry containers in any of The Body Shop stores located in the malls, and the brand will handle the recycling for you.

The Body Shop through its partnership with SM Cares’ Plastic Waste Collection Program ensures that your participation helps avoid plastics from filling the oceans and adding to landfills.

The new Body Butter is available at The Body Shop stores, and on its online store (www. thebodyshop.com.ph).

Armani cancels men’s Milan show, Paris haute couture ROME—Designer Giorgio Armani said Tuesday he was cancelling his Giorgio Armani and Emporio Armani men’s fashion shows in Milan this month and his Prive haute couture show in Paris because of soaring coronavirus cases in Europe.

The decision makes Armani the first major designer to pull out of the Milan men’s previews for fall/winter 2022-23 scheduled for January 14-18.

In a statement, the fashion house said the decision was “made with great regret and following careful reflection in light of the worsening epidemiological situation.

“As the designer has expressed on many occasions, the shows are crucial and irreplaceable occasions but

the health and safety of both employees and the public must once again take priority,” the Armani statement said.

Milan’s fashion council had announced last month that 22 brands, from Armani to Zegna, would be staging live runway shows, with just nine opting for digital presentations. It did so following the success of the September womenswear shows that featured 40 live runway previews, with mask requirements and limited invitees.

The British Fashion Council has said its January menswear shows would not go ahead due to Covid and that they would be consolidated with the womenswear calendar in February. AP

B6 Monday, January 17, 2022

Navotas‘ Gardy and RC Cruz give free vitamins and paracetamol amid the rising cases of Covid

Security Bank Foundation turns over classrooms in Calapan’s central school

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ECURITY Bank Corporation’s Corporate Social Responsibility (CSR) arm Security Bank Foundation Inc. (SBFI) took advantage of the absence of face-to-face classes during the pandemic to address classroom shortage in Camilmil Central School (CCS), Calapan City’s central elementary school. SBFI turned over a two-storey, four-classroom building on November 23, 2021.

According to Security Bank Foundation Chairman Rafael F. Simpao Jr., “Security Bank Foundation’s focus on education started in 2011 when we became aware of the shortage of classrooms in our public schools. In celebration of the Security Bank’s 60th anniversary in 2011, the Foundation launched the Build a School, Build a Nation Program with the initial target of building and donating 60 classrooms, over a period of five years, to public schools in communities where Security Bank has a presence.”

Department of Education Calapan City Schools Division Officer-in-Charge, Dr. Laida Mascareñas, highlighted the role of multi-sectoral support in achieving a better normal for education.

“The school building is an emblem that confirms that quality education can best be achieved through shared responsibility,” says Dr. Mascareñas.

“The school building will motivate our teachers in equipping pupils with the

PRESENT at the turnover of two-storey, four-classroom school building donation to Calapan Central School were, from left: Renevic Cabagyo (Security Bank Calapan Branch Business Manager), Jose Tolentino (Security Bank Branch Banking Group Area Head for South Luzon), Hon. Arnan Panaligan (Calapan City Mayor), Dr. Laida Mascareñas (Department of Education Calapan City Schools Division Officer-in-Charge), and Maret Saballo (Camilmil Central School Officer-In-Charge). necessary knowledge, skills, and attitudes needed to bring forth a better tomorrow.”

Security Bank Branch Banking Group Area Head for South Luzon, Jose Tolentino, highlighted the value of the Foundation’s sustained effort to build classrooms despite absence of face-to-face classes. “Better classrooms in anticipation of the coming better normalcy is part and parcel of our CSR that we extended in Calapan City.

May this school building signal hope and renewed confidence as we slowly open

our schools and our economy towards recovery,” said Tolentino.

By the end of the year 2021, Security Bank Foundation would have built 701 classrooms in 123 schools in 69 cities and municipalities, a fitting celebration of Security Bank’s 70th anniversary.

To know more about Security Bank Foundation and its CSR initiatives, you may visit www.securitybank.com/sustainability or Security Bank’s Facebook page at www. facebook.com/SecurityBank.

Chelsea Logistics charts an innovative path: Modernizing infrastructure and finance with cloud-based systems

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HELSEA Logistics partnered with NTT DATA, a trusted global innovator, to modernize its financial systems by upgrading to SAP S/4HANA, an Enterprise Resource Planning software. This contributed to the significant reduction of the Group’s CAPEX and provided the scalability needed as the business grows.

After acquiring various shipping and logistics businesses, Chelsea Logistics saw the need to create digital synergy among its brands. It invested time and resources to streamline, standardize, and improve its subsidiaries’ business processes and operations.

Part of the digitalization was the decommissioning of Trans-Asia’s and SuperCat’s legacy systems which are outdated and slow in processing of financial data. Legacy systems pose keyman risk in the Group because veteran IT workers who are learned of the legacy

system have been retiring, leaving the Group with insufficient support. Thus, any malfunction with the legacy system will disrupt business processes and continuity. With the company’s growth and increased transactions, the legacy system fails to scale up and respond to the changing demands of the business such as data analytics.

NTT DATA supported Chelsea Logistics’ move to S/4HANA on the cloud, with Microsoft Azure as hyperscaler.

The implementation of S/4HANA now unifies the Group’s financial data into one platform which provides ease in the consolidation process. It has allowed the Group to plan, execute, generate reports and analytics based on live data, resulting in better forecasting. SAP S/4HANA’s modern design, simple, and responsive interface has improved user experience.

Regardless of the device being used, the Group can access real-time business

insights and intelligence, anytime and anywhere.

Chelsea Logistics President and CEO Chryss Damuy said: “Technology is an indispensable part of our business model. We are grateful to NTT Data for making our digital transformation possible, taking customer experience and employee efficiency to the next level. We look forward to streamlining all processes of the holdings company, Chelsea Logistics, and its subsidiaries to eliminate redundancies and ensure optimal resource utilization.”

NTT DATA Philippines President & CEO Poch Reyes remarked: “We take pride in the trust Chelsea Logistics has given to NTT DATA. We are eager to see more organizations follow their lead and prepare for the workplace of tomorrow, one that is resilient, scalable, and empowered.”

Read the full case study at https://bit. ly/ChelseaxNTTData

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OVID-19 cases in Navotas City are on the rise as more and more citizens are experiencing symptoms as a result of the pandemic and as a new Omicron variant is slowly making its way throughout the country.

Congressman Aspirant of Navotas City, fondly called Tatay Gardy Cruz and Navotas Mayoralty aspirant RC Cruz have continued to provide fee vitamins and paracetamol for their constituents. Their aim is to provide much-needed protection for every person in Navotas against the new Omicron variant and COVID-19.

Both called on their fellow candidates as well as the incumbent local government officials of the city to set aside politics and band together to focus on the needs of the people through the provision of free medicine as well as basic needs like food most especially to the those who are in quarantine.

Tatay Gardy Cruz and RC Cruz from the

onset of the pandemic have continued to provide much needed assistance to the people of Navotas through the programs RC Cares, Wish Kay Tatay Gardy, at Ayuda sa Bagong Navotas. These social good programs focus on the provision of free groceries, rice, Covid-19 protection essentials such as face masks and medicine which to date have helped countless people in the City of Navotas.

DITO continues to provide reliable services, customers anticipate wider 5G rollout

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ORE DITO customers are voicing their approval for the third telco’s superior offerings that include better data volume, carryover data, stable connection, and value for money.

Mathew Tamaray, a 45-year old resident of Biñan City, Laguna, who works for PAL Express for 11 years now, calls himself a “believer of DITO,” as he recounts its top-notch customer service and better accessibility in other areas of the country relative to incumbent networks.

For instance, he uses his DITO number for business-related concerns or when he is on an official business in the outstations, citing that the network provides faster access in key cities where they operate.

In addition, his wife, who is a pilot and flies to other provinces in the country, carries a second phone with a DITO number so she can get in touch with the family. Their children are also DITO users as the network provides the clearest call in their residence in Laguna.

MATHEW Tamaray of Binan City, Laguna, one of DITO‘s satisfied customers.

“It gives my wife and me peace of mind that we can reach our children even if we are in the outstations on official business,” he shared.

“We are lucky to have a network that rivals our WIFI network. This is particularly important for my children, who are studying online, and for me working from home,” he added.

In his line of work, Tamaray expressed his appreciation to DITO for being the only network available when typhoon Odette hit the provinces of Roxas and Tacloban, saying that it allowed them to coordinate and start their operations in the outstations.

“DITO, as an alternative telecom in major airports we operate across the country, proves to be a reliable provider,” he said Jonas Muyco, a 37-year old resident of Parañaque City and a work-from-home BPO employee, proudly shows how DITO has been a reliable backup for his work-from-job.

Meanwhile, Jonas Muyco, a 37-year old resident of Parañaque City and a work-fromhome BPO employee, jumped ship as soon as DITO launched its commercial rollout in March 2021 and was one of the first one million users of the network, leaving his 4-year relationship with another telco.

“I am really happy that there’s a new telco,” he said. “When DITO wasn’t around, the other telco networks weren’t very particular about data connection and customer service but when it came, everything went better – faster and cheaper postpaid plans,” he added.

He also underscored how much it helped him reduce expenses. From paying roughly PHP6,000 for 3 separate postpaid plans a month, he now spends just Php1,200 for his family’s prepaid data on a monthly basis.

All subscribers are anticipating DITO’s wider 5G data rollout.

Online influencers conference held to boost China-ASEAN ties

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HE first ASEAN-China Online Influencers Conference and Fujian Brands Promotion Tour along Maritime Silk Road concluded in Fuzhou, southeast China’s Fujian Province took place on January 13, a year after China and ASEAN celebrated the 30th anniversary of their dialogue relations and elevated their ties to a comprehensive strategic partnership.

Themed “Set Sail from Blessed Land when the Wind is Positive,” the event also followed the implementation of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade deal that will bring new development opportunities to China-ASEAN ties.

During the three-day event, ASEAN diplomats to China and representatives from media organizations, as well as Chinese and ASEAN online influencers learned about Fuzhou’s experience in developing digital industry and experienced the culture of Fujian province through field visits and online activities.

The event focused on economic and trade cooperation and cultural exchanges between China and ASEAN, and held three dialogues on digital economy, influencer economy and cross-border e-commerce.

It also acted as a matchmaker between Chinese and ASEAN enterprises. Fujian AsiaPacific Economic and Trade Cooperation Promotion Association, China's first provinciallevel business association responding to the RCEP agreement, set the stage for a series of agreements between Chinese and ASEAN industries, including a $5.6 billion intended deal inked by Fujian’s Eversun Holdings Group to invest in an ASEAN refinery.

The conference, joined by online influencers, expanded new space for telling

stories about China-ASEAN cooperation under the RCEP framework. It mirrored the broad cooperation between China and ASEAN countries on people-to-people exchanges and witnessed the deepening regional economic integration between the two sides.

China’s Assistant Foreign Minister Hua Chunying delivered a speech at the conference via video link.

She said online influencers are telling the best stories and writing history every day.

“Creative and empathetic, you are sharing the emotional highs and lows of ordinary people on social media and the Internet.

Their experience of small serendipities and pursuit of big dreams strike a chord with every one of us and draw people closer across national borders,” she remarked.

In a dialogue session, Chinese influencers shared the stories of their exchanges with ASEAN netizens, hoping to contribute to the cooperation between China and ASEAN on influencer economy and cross-border e-commerce through their influence.

Their ASEAN counterparts expressed similar aspirations. Cambodian gaming streamer Seaneang said that China and Cambodia enjoy a long history of friendship, and she hopes to further the exchanges between the cultures of the two countries despite their differences. Indonesian influencer Harini Riswanda introduced her efforts to maintain strict inspection and integrity when promoting cross-border e-commerce. Alexandra Bounxouei from Laos believes that music and media are bringing closer the people from her country and China, though they speak different languages and have different cultures and traditions.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, January 17, 2022 B7

The coronavirus chronicles: How PR pros can start the year write ‘T

By Millie F. Dizon

Here, Ladan and Arenstein share some tips on how to write better in 2022:

n When in doubt, make it shorter

Short and sweet is still the way to go. Notice how we cut short our reading after going through lengthy articles that seem to get nowhere and mean nothing?

There’s nothing like getting to the point and getting our message clear. “Overwriting does not demonstrate mastery,” say Ladan and Arenstein, “effective writing does. And effectiveness follows efficiency.”

They recommend what other PR pros do: to think in soundbites, or seven word snippets. “A soundbite is supposed to be pithy,” they say.

“Pithiness leads to memorability.”

In short, “if you can write it in 50 words or fewer, why use 100?”

n Lots of brevity ‘Rules’

If you have chosen to take a shorter, more concise route in writing, Ladan and Arenstein

n Awards: 7-Eleven Malaysia named Master Franchisee of the Year

K UA L A LUMPUR , M A L AYSI A—7Eleven Malaysia has been named ‘Master Franchisee of the Year’ at the recent 23rd Malaysia Franchise Awards Night 2021 event as a recognition of its robust franchise system. Organized by the Malaysian Franchise Association (MFA), there were 13 categories of awards to celebrate franchisors, franchisees, master franchisees, media, organizations, and individuals who contributed to the growth of the national franchise industry.

Assistant General Manager of Franchise, Joyce See, represented 7-Eleven to receive the Award in the presence of Prime Minister Datuk Seri Ismail Sabri Yaakob, Minister of Domestic Trade and Consumer Affairs, Datuk Seri A lexander Nanta Linggi, and Chairman of Malaysian Franchise

SHVETS production | Pexels

PR Matters

IS that time of year when we look back, ref lect, and resolve how we can make ourselves better. For PR pros, writing is on top of the list, and rightly so, say Luka Ladan and Seth Arenstein in an article in PR News.

“Even in PR, an industry heavily dependent on content creation, deficient writing is rampant,” they say in their article, In 2022, Resolve to, Improve Your Writing.

“From careless typos to troubling grammar mistakes, subpar writing makes it exceedingly difficult for PR pros to reach their target audience.”

In the corporate world, deficient writing influences the bottom line. They estimate that in corporate America “ blue chip” companies spend more than $3 billion annually in remedial writing training.

Closer to home, it would be tragic not to be able to get our compa ny ’s message ac ross — whether it be a new product, an event, or an official statement —because of poor writing skills, unimaginative content, or the inability to rise above one’s limited world view.

have compiled tips which can be considered a PR pro’s North Star to guide them.

1. The 7x7 rule in PowerPoint slides—use no more than seven lines of text—or seven bullet points— and no more than seven words per slide—is also useful in writing 2. Other ‘rules’ suggest capping sentences at 25 words, others urge 25-30 words. That of course, would depend on the content and style of the sentence.

3. Keep your paragraphs, again, short and sweet 4. Avoid unnecessary commas, semicolons, and em dashes, but tread carefully. The frequency of punctuation is inversely correlated with memorability. Punctuation marks tend to be less necessary than you think.

Association, Datuk Radzali Hassan during the ceremony held at Putrajaya Marriott Hotel, Putrajaya, on Dec 1.

With over 30 years of retail experience dedicated to offering a wide range of products and services to consumers, 7-Eleven strives to support the demand and growth of its franchisees.

The careful selection of 7-Eleven Malaysia franchisees is based on multiple criteria—the demonstration of successful ownership; the willingness to personally manage day-to-day operations, grow sales, and manage a team; and the passion to create a happy shopping environment for customers. With an investment of RM280,000, the franchise process typically takes around four months, including intensive twomonth training at 7-Eleven stores.

For more information on the 7-Eleven Malaysia Franchise Programme, please contact franchise@7eleven. com.my. Interested applicants may submit their interest at www.7eleven. com.my/franchise-franchis7e.

n Travel: AirAsia releases statement on new transportation guidelines for fully vaccinated and non-vaccinated guests

M A NIL A , PHILIPPINES —A i rA si a

n Put yourself in the target’s shoes

When pitching a story, think of your audience—the media, say Ladan and Arethstein. Would they prefer reading a press release exceeding six paragraphs? Or would they rather you make your point in four paragraphs or fewer?

Business stories are known for their brevity, while lifestyle stories can be longer and more engaging. Whatever your story is about, it should have that spark.

Make it creative, interesting, and definitely not soo…long.

n The two-way street

“Generally, content creation is a two-way street,” say Ladan and Arethstein. “There is a writer and a reader. “ As writers, “our duty is to be the reader, rather than writing in a vacuum. The user must dictate the end product. If you speak to be heard, then write the same way.”

Philippines will abide by and implement the Department Order 2022001 issued by the Department of Transportation on January 11, 2022 setting new transportation guidelines for fully vaccinated and nonvaccinated guests.

“From the onset of the pandemic, AirAsia has always been working closely with the IATF, DOTr, and its attached agencies along with medical experts in the implementation of multi-layered approaches to safety in the aviation sector,” said Ricky Isla, AirAsia Philippines CEO. Beginning January 17, 2022, the world’s best low-cost airline will continue to fly fully vaccinated guests from its Manila hub, compliant with the latest travel guidelines set by the respective Local Government Units (LGUs) of their destination.

Meanwhile, non-vaccinated guests with the essential purpose of travel from Metro Manila such as persons with medical conditions that prevent full Covid-19 vaccination will still be allowed to fly, provided that they present a duly signed medical certificate with name and contact details of their physician. Likewise, persons who will provide essential goods and services

In short, it should never be about yourself.

They give us some examples: If you’re writing a speech for a member of Congress and the target audience is a primary voter, “sloganeering is more compelling than policy making. Stay out of the weeds. Don’t get too wonky.”

If the target audience is the US Chamber of Commerce, “offer a more sophisticated speech, include specifics of tax and regulatory policy. Create a wonkier speech since Chamber officials enjoy public policy.”

If you have a Generation Z audience with a short attention span, “an average of eight seconds compared to twelve seconds for Millennials—pithy writing is a requirement.”

All in all, we are urged to improve on our content—and research and practice is the key.

as evidenced by a duly issued barangay health pass or other appropriate proof that will justify travel will also be accepted during the flight.

Isla added, “AirAsia Philippines considers this initiative from the DOTr as an effective tool to encourage every Filipino to take the shot, and get an added layer of protection against any emerging Covid-19 variant.”

AirAsia Philippines guests traveling over the next few days are strongly encouraged to check their flight status and visit the airasia flysafe page page for the latest updates on travel requirements.

n Brand & Business: Outbrain partners with Vivo to provide recommendations across browser newsfeeds

SINGAPORE—Outbrain, a leading recommendation platform for the open web, announces an agreement with Vivo, a leading, product-driven, global technology company, to power Vivo’s browser newsfeed with native content.

Vivo will utilise Outbrain’s OB News, which relies on content from Outbrain’s premium publisher network and allows partners to tap into a stream of

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Their final words: “Patience is key in turning your writing deficiency into a strength. Trust the process and keep writing.”

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editorial content from these sites at no extra cost alongside trusted native monetisation. This non-interruptive news and native advertising format allows Outbrain’s partners to choose from a range of categories to match their users’ interests and will specifically help Vivo’s 50 million daily active users across South East Asia discover world-leading editorial content in new ways and in new places.

“The easy integration of OB News into our platform allowed us to already see a marked improvement in our user engagement and monetisation strategy,” says Bob Xu, BD Director of Vivo.

“Outbrain’s recommendation technology is second-to-none in terms of editorial content and brand-safe environment.”

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Sports

Bornea KOs foe in third round

BusinessMirror

TUBID

Tubid loving role as Dyip team manager

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By Josef Ramos

ONALD TUBID has become a permanent fixture on Terrafirma’s bench— but he’s not in a Dyip uniform.

Tubid’s been the Dyip’s team manager since October last year and has been loving his new job, although admitting at times that he’d gone disoriented during games where the Dyip were in trouble and wanted to join the action on the floor.

“I’m already 40 and I don’t wake up the same way when I was still a player,” Tubid, a ninetime Philippine Basketball Association (PBA) champion, told BusinessMirror on Sunday.

“But the player in me remains strong in my heart—but I have a new task now.”

The former University of the East aggressive swingman’s happy with his new job.

“Being a team manager easily got into my system,” said the 16year veteran in the pro league who took over from Joe Lipa in October last year. “I was given the opportunity to handle the management task from being one of the assistant coaches late last year.”

What’s good with Tubid who still packs the game in his legs is that as team manager, he gets to join the Dyip during practice sessions.

“It’s easy to deal with the players because they know I think, breathe and act as a player,” he said. “They know they’ll be fine with me as their team manager.

But the challenge is how to form a competitive team given a certain given budget.”

Tubid’s background as a Banking and Finance student at UE has come in handy for the ex-Red Warrior who had as college teammates James Yap and Paul Artadi.

“Defense is one of my major requirements in getting a player,” he said. “That’s what we envision for our team—to invest solidly on defense,” he said.

One of the biggest challenges that comes with his new role is how to draw the best out of a player.

“As a team manager, the challenging part is how to encourage and develop a player, to bring out the best from him,” said Tubid, one of six former PBA players who are currently managers of their respective teams—Paolo Bugia (Phoenix), Gabby Cui (TNT), Alvin Patrimonio (Magnolia), Gee Abanilla (SMB) and Dickie Bachmann (Alaska).

The Covid-19 pandemic tolled on Terrafirma—just like on every team in the league—and Tubid admitted he, too, got the virus recently but has fully recovered.

“I had a high fever for only one day and after isolation, I’m cleared now,” he said.

Training for the Dyip has returned to virtual sessions and all the Dyip wanted to accomplish while the Governors’ Cup remains suspended indefinitely, according to Tubid, are for everyone to stay in shape, recover from injuries and polish the team’s playbook.

“At 1-4 win-loss, we want to be optimistic of our chances once the games resume,” he said.

B8

| Monday, January 17, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NOVAK LOSES APPEAL, CHANCE AT SLAM NO. 21

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Deportation usually occurs as soon as possible after an order unless prevented by court action.

The government has not said when Djokovic will leave. A deportation order also usually includes a threeyear ban on returning to Australia.

In Serbia, President Aleksandar Vucic said the hearing was “a farce with a lot of lies.”

“They think that they humiliated Djokovic with this 10-day harassment, and they actually humiliated themselves. If you said that the one who was not vaccinated has no right to enter, Novak would not come or would be vaccinated,” Vucic told reporters.

He said he told Djokovic after talking to him “that we can’t wait to see him in Serbia, to return to his country, to come where he is always welcome.”

He did not say whether Djokovic said he would first go to Serbia after his deportation.

Chief Justice James Allsop said the ruling came down to whether the minister’s decision was “irrational or legally unreasonable.”

Hawke welcomed the decision.

His office did not immediately provide detail of how or when Djokovic would leave. AP

NOVAK DJOKOVIC rides in car as he leaves a government detention facility before attending a court hearing at his lawyers office in Melbourne on Sunday. AP

PLDT Home Fibr signs top libero

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ELBOURNE, Australia—Novak Djokovic said he was disappointed that a court on Sunday dismissed his challenge to a deportation order and accepted his hopes of playing at the Australian Open were dashed.

The top-ranked tennis star released a statement shortly after three Federal Court judges unanimously upheld a decision made on Friday by Immigration Minister Alex Hawke to cancel the 34-year-old Serb’s visa on public interest grounds because he is not vaccinated for Covid-19.

“I am extremely disappointed

with the Court ruling to dismiss my application for judicial review of the Minister’s decision to cancel my visa, which means I cannot stay in Australia and participate in the Australian Open,” Djokovic said.

“I respect the Court’s ruling and I will cooperate with the relevant authorities in relation to my departure from the country,” he added.

Djokovic said he was “uncomfortable” that the focus had been on him since his visa was first canceled on arrival at Mebourne’s airport on January 6.

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“I hope that we can all now focus on the game and tournament I love,” he said.

The decision likely means that Djokovic will remain in detention in Melbourne until he is deported.

The national federation that runs the tournament, Tennis Australia, said it respects the decision of the Federal Court. “We look forward to a competitive and exciting Australian Open 2022 and wish all players the best of luck,” it said in a statement.

Clap, don’t chant: China aims for ‘Zero Covid’ Olympics

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THLETES will need to be vaccinated—or face a long quarantine—take tests daily and wear masks when not competing or training.

Clapping is OK to cheer on teammates, not chanting. Anyone who tests positive for Covid-19 will be sent into isolation and unable to compete until cleared for discharge.

Welcome to the Beijing Olympics, where strict containment measures will aim to create a virus-proof “bubble” for thousands of international visitors at a time when Omicron is fueling infections globally.

The prevention protocols will be similar to those at the Tokyo Games last summer, but much tighter. That won’t be a stretch in Beijing, with China having maintained a “Zero Covid” policy

No-Vacc Djoke LET me preface everything by saying I am a fan of Novak Djokovic.

When Pete Sampras wrote the record on Grand Slam wins, I knew it was going to be broken by Roger Federer.

Then Rafael Nadal came along and he too stuffed all these trophies in his gym bag. I thought it would be awhile before someone accomplished what Federer and Nadal have done, but Djokovic came along. And Novak can actually surpass them.

Well, that is, until he met the Australian government

ADE “HURRICANE” BORNEA knocked out Italian-Moroccan fighter Mohammed Obaddi in the the third round in their International Boxing Federation (IBF) title eliminator on Saturday in Monterrey, Mexico.

Up next for Bornea, who became the No. 1 challenger in the super flyweight class, is no less that fellow Filipino and IBF world champion Jerwin “The Pretty Boy” Ancajas.

But Bornea said he’ll avoid that 115-pound fight with Ancajas.

“I don’t want to fight Jerwin [Ancajas], I don’t like to fight a fellow Filipino,” the unbeaten 26-year-old fighter from San Francisco, Agusan del Sur, told BusinessMirror through an internet call from Los Angeles, California, on Sunday. “But it’s up to our promoter on what’s next. But for me, I am willing to wait long enough to fight for a world title as long as it’s not against a fellow Filipino.”

MP Promotions President Sean Gibbons said that Ancajas will be fighting Argentina’s Daniel Fernando Martinez next month before taking on World Boxing Organization champion Kazuto Ioka of Japan in a unification bout.

“We already have a contract, so the fight will happen anytime this year,” Gibbons said of the Ancajas-Ioka fight which was originally set last December 31 in Tokyo but was postponed by the Japanese government because of the surge in Covdi-19 O micron variant infections.

Bornea—who has two kids, Messegi and Joaquin, with wife Marvie Mae—improved his win-loss record to 17-0 with 11 knockouts.

The only way for Bornea to avoid a fight with Ancajas is for the reigning champion to give up his IBF belt—which he won in September 2016 in Taguig City against Puerto Rican McJoe Arroyo—and campaign in a higher weight division. Josef Ramos

since early in the pandemic.

Still, China’s ability to stick to its zero-tolerance approach nationally is already being tested by the highly transmissible Omicron variant, which is more contagious than earlier variants of the virus and better able to evade protection from vaccines.

With just weeks to go before the February 4 start of the Games, more than 20 million people in six cities are under lockdown after recent outbreaks.

BEIJING REPORTS FIRST OMICRON CASE BEIJING has reported its first local Omicron infection, according to state media, weeks before the Winter Olympic Games are due to start.

The infected person lives and works in the city’s northwestern

that refuses to let him in to defend his crown at the Australian Open owing to his not being vaccinated.

Australia has one of the stringent and most contentious lockdowns due to Covid-19 and rightly so.

For someone who is an anti-vaxxer like Novak to flaunt his beliefs sends the wrong message.

Furthermore, I have no idea why the Serbs think that Djokovic is being singled out. I must say that I am not surprised that the race card has been brought out.

In case you remember his Adria Tour in June of 2020, it became a super spreader for the virus with many players—Djokovic included—testing positive for the virus.

What was ironic about that was tennis pro Nick Kyrgios who was back in his native Australia when the event happened, tweeted that the event was “a boneheaded decision.”

And yet, he did an eyebrow-raising about face when he offered support for Djokovic this time around in Australia.

“We’re treating him like he’s a weapon of mass destruction at the moment; he’s literally here to play tennis.

As a human, he’s obviously feeling quite alienated,” Kyrgios said. “It’s a dangerous place to be when you feel like the world is against you, and you can’t do anything right.”

Incidentally, Kyrgios is in quarantine for testing positive for Covid.

district of Haidian and had no travel history outside of Beijing for the past two weeks.

The individual experienced symptoms on Thursday and was tested on Friday for Covid-19, officials said in a news conference Saturday during which they confirmed the infection.

The infection comes less than three weeks before the Winter Olympic Games’ opening ceremony on February 4., and around two weeks before the start of Lunar New Year celebrations in China.

So far, multiple cities in China have reported Omicron infections, including Shanghai, the western city of Xi’an, cities in southern Guangdong province such as Zhuhai and Zhongshan, and the city of Tianjin, which is 30 minutes from Beijing by high-speed rail. AP

OLYMPIC FAVORITE

Kamila Valieva underlines her status as the favorite for the women’s Olympic figure skating gold medal as she wins the European title by a commanding 22-point margin on Saturday in Tallin, Estonia.

Valieva continues Russian domination of women’s figure skating by completing her country’s sweep of all four events at the championships.

Competing at her first major championships, the 15-year-old Valieva falls on a triple axel in the free skate but lands three quadruple jumps, skating to “Bolero.” AP

I realize these vaccines have been contentious.

To be honest, I refused to get any vaccines at first. It was my Catholic sensibilities that had its internal alarms raised and thinking “the number of the beast things the government might places in there to control people.”

Maybe too, I had seen one too many conspiracy theory films.

But as the pandemic and lockdown wore on with more people getting sick and dying, I had a change of heart. I am putting people in harm’s way. I am the one who goes out to the market and the grocery. I initially went out to pay the bills as well (but right now, I pay everything online).

I got vaccinated, and can’t wait to get my booster shot. I honestly believe that the vaccines protected me given my comorbidities.

However, my two sons have Covid-19 and they are fine.

If they weren’t vaccinated, it would have been worse.

I can understand Novak. If he wins the Australian Open, he will have separated himself from Federer and Nadal with 21 slams to his name.

But defying the government mandate for selfish gain?

The problem too are these exemptions. You grant them to a few, there everyone seeking the same will point to it as a precedent.

Whether I agree with the Australian government protocols or not is immaterial. If that is the rule, that is the rule.

EIGNING Premier Volleyball League (PVL) Best Libero Kath Arado signed with the PLDT Home Fibr High Speed Hitters.

Also signed by PLDT were middle blocker Jessey De Leon and outside hitter Mean Mendrez, who, like Arado, was also previously part of Petro Gazz.

For Arado, joining PLDT was a nobrainer because she still has unfinished business with Rhea Dimaculangan, Chin Basas and Eli Soyud.

Back in 2020, they were supposed to be part of Generika-Ayala in the Philippine Superliga but the tournament was scrapped due to the Covid-19 pandemic.

“To be honest, one factor why I joined PLDT are my teammates,” said the 23-yearold Arado. “ Ate Rhea, Chin, Ate Eli and I were together at Generika and I didn’t have second thoughts of signing with the team,” said the 5-foot-5 defensive specialist out of Iligan City.

Honored was Arado as she joined the storied PLDT franchise. But she knows that there is pressure that comes with it.

“My goal is to help Ate Rhea for her to return to the top four, but of course, we’ll take it gradually,” she said. “We’ll have to work hard to improve.”

KATH ARADO brings act to High Speed Hitters.

Early in the lockdown in the Philippines, my office refused to let me inside the premises because of my cough.

Even if I had tested negative for the virus, I was still refused. I had to wait until the cough was gone and that I continued to test negative.

Their company. Their rules.

Djokovic should have not been invited in the first place. The organizers should have sat down with the Australian government to discuss this rather than let it fester in media.

Speaking of media, Novak even went to a media interview without telling the writer that he had Covid. How selfish is this guy?

By the time this column has come out, a verdict would have been reached as Novak has challenged this (An Australian court dismissed Novak Djokovic’s appeal against a deportation order on Sunday.–Ed). While I would have wanted him to win this tournament, I cannot overlook the fact that it is nothing more than for selfish gain.

Please do not bring up Serbian pride because that would make you more stupid than I thought. Hmm. Pandering to emotion.

Whether this sad affair taints his legacy, no one knows.

Let’s just hope that whatever decision that arises, everyone accepts it with a cool head.