BusinessMirror July 14, 2022 by BusinessMirror

Boracay lands on TIME’s 2022 World’s Greatest Places list B M. S F. A

@akosistellaBM Special to the BM

ORACAY Island landed on TIME magazine’s World’s Greatest Places for 2022, and only one of two Southeast Asian destinations that made the list. In a piece written by Charlie Campbell, he recalled the time former President Rodrigo Duterte called the island a “cesspool” after years of unabated sewage problems plagued the island, and closed it for six months in 2018. “The once brilliant white sand and clear waters of Boracay Island were cooking on the trash and traf-

BORACAY Island’s alluring white-sand beaches and incredible hospitality make it a spectacular tourist haven. JACKMALIPAN | DREAMSTIME.COM

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fic that comes from 2 million annual visitors,” he said. Then when Covid-19 wreaked havoc across the globe, closing down international borders, while community quarantines halted domestic tourism as well, the island’s economy suffered once more. “[But] the silver lining was this 4-sq-mi. speck in the Visayas island chain had proper time to truly recover. As of February 2022, international visitors can finally revel in this revamped, recuperated, natural playground after what was effectively a three-year convalescence. Locals report the return of flora and fauna, like sea turtles, and hospitality has come back just as spectacularly,” noted Campbell.

Data from the Department of Tourism (DOT)-Region 6 showed tourist arrivals in Boracay reached 849,047 in the first half of 2022, a dramatic surge of over 1,000 percent from the same period in 2021, and 176.2 percent higher than the same period in 2020. The first half arrivals this year was just 25.88 percent less than the 1.15 million that arrived from January to June 2019, prior to the pandemic. Of the total arrivals this year, foreign tourists accounted for 18,845 while overseas Filipinos were 12,987. Of domestic travelers, the largest numbers came from the National Capital Region C  A

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THINK TANK SEES TRADE DEFICIT RISING TO $50B www.businessmirror.com.ph

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Thursday, July 14, 2022 Vol. 17 No. 279

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‘Too early’ to cut personal income tax rates—Diokno B B C @BcuaresmaBM

INANCE Secretary Benjamin Diokno said they are not looking to cut personal income tax rates anytime soon despite calls to amend it amid rising consumer prices. In a response to reporters on Wednesday, Diokno said it is still “too early to tinker” with personal income tax rates. “We just amended both PIT and CIT. Let’s give the new tax system a chance to operate,” the governor said. Calls have been made to lower the country’s income tax rates to cope with the rising inflation in recent months. Just recently, ACT Teachers Representative France Castro filed a House Bill entitled Tax Reform Act for the Masses and the Middle Class (TRAMM). “Rising prices and untamed inflation rates in the past few years all the more justify the need for a tax reform package that would reduce the income tax rates of the overburdened Filipino working class families,” Castro said. “Reducing income tax rates for working families will not only improve their way of life but also strengthen their purchasing

THIS image released by NASA on Tuesday, July 12, 2022, shows the edge of a nearby, young, star-forming region NGC 3324 in the Carina Nebula. Captured in infrared light by the Near-Infrared Camera (NIRCam) on the James Webb Space Telescope, this image reveals previously obscured areas of star birth, according to NASA. Story in World, page A12. NASA, ESA, CSA, AND STSCI VIA AP

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@caiordinario

HE country’s trade deficit is expected to swell to $50 billion this year on the back of more expensive imports which have been affected by the war in Eastern Europe, according to a local think tank, echoing an earlier prediction by economists.

In the midyear economic briefing of the First Metro Investment Corp-University of Asia and the Pacific (FMIC-UA&P) Capital Market Research on Wednesday, UA&P senior economist Victor A. Abola said this is $7 billion or about 16 percent higher than the $43 billion posted in 2021. The Philippine Statistics Au-

thority (PSA) data earlier showed that the trade deficit in May has reached $5.68 billion and the deficit in January to May 2022 has already reached $25 billion. “The trade deficits have been ballooning and have reached a record high of $43 billion in 2021, C  A

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PHL AMONG LOW-RANKED IN REMOTE WORK INDEX B C U. O @caiordinario

HE Philippines is one of the 10 least attractive countries to work in under a remote set up, according to the Global Remote Work Index released by US-based NordLayer. The country ranked 57th out of 66 countries in the index, with a total score of 0.555 out of a perfect score of 1. The index aimed to reveal countries’ attractiveness for remote work by evaluating different aspects that allow remote working. The index also included Asean countries such as Singapore which

ranked 9th overall; Malaysia, 33rd; and Indonesia, 58th. European countries dominated the index. “Nevertheless, the trend is clear—ever since the beginning of Covid-19, remote or hybrid work has become inevitable even in those companies that previously preached the importance of faceto-face interactions,” Juta Gurinaviciute, chief technology officer at NordLayer, said. “This is why NordLayer carried out this detailed analysis and decided to publish the Global Remote Work Index. We took into account all of the fundamental parameters S “PHL,” A

PESO EXCHANGE RATES US 56.3180 ■ JAPAN 0.4116 ■ UK 66.9621 ■ HK 7.1745 ■ SINGAPORE 40.0384 ■ AUSTRALIA 38.0484 ■ SAUDI ARABIA 15.0053 ■ EU 56.5264 ■ KOREA 0.0431 ■ CHINA 8.3770

Source: BSP (July 13, 2022)

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Thursday, July 14, 2022

‘Too early’ to cut personal income tax rates—Diokno C  A

power which will boost overall domestic demand for consumer goods,” he added. Just last week, the Development Budget Coordination Committee (DBCC) announced that revenue collections are projected to show a gradual, upward trend over the medium-term from P3.633 trillion in 2023 to P6.589 trillion in 2028. “This will be achieved through the continued implementation of existing tax policy and tax administration reforms, bolstered by a robust economic growth,” the DBCC said. Meanwhile, average inflation rate assumption for 2022 remains elevated and is projected to range from 4.5 to 5.5 percent, following the uptick in prices of fuel and food as a result of the ongoing Russia-Ukraine conflict and disrupted supply chains. It is also adjusted to 2.5 to 4.5 percent for 2023, and is seen to return to the target range of 2 to 4 percent by 2024 until 2028.

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DFA activates quick response unit to ferry 100 OFWs in Sri Lanka

B M T-B

@maloutalosig

ROUND 100 Filipino workers in Sri Lanka have volunteered for repatriation after the financial crisis in the south Asian island further deteriorated into a political maelstrom with the ouster of its president Gotabaya Rajapaksa, a senior official of the Department of Foreign Affairs said.

DFA Undersecretary for Migrant Workers Affairs Eduardo José A. de Vega told the BM that the latest estimate on the number of Filipinos in Sri Lanka is now 700. “About 100 of our kababayan wish to be repatriated. The rest, may mga pamilya na doon [they have

families there]. So they will stay,” de Vega said. The DFA is reactivating the quick response team to enable the repatriation of the 100 Filipinos from Sri Lanka. The Philippine Honorary Consul in Colombo is also coordinating with the local authorities in Sri

Lanka and the Filipino community leaders in Sri Lanka for the repatriation of the OFWs. In May, around 25 Filipinos signified their intention to avail themselves of the governmentsponsored repatriation after the financial crisis in the south Asian country triggered a shortage of basic goods, medication and fuel as well as rolling power outages. Angry Sri Lankans took to the streets, with many blaming President Rajapaksa and his family for the situation. They called on the president to resign. Crowds stormed Rajapaksa’s official residence at the weekend and set on fire the house of his prime minister. News footage showed protesters roaming through the palace and swimming in the president’s pool. Rajapaksa fled the country on a military jet Wednesday. Prime Minister Ranil Wickremesinghe was appointed as acting president.

which we expect to hit more than $50 billion in 2022. The peso depreciation is the correc-

tive mechanism by which this will be lowered,” Abola said. His comment came a day after local economists, remarking on the trade deficit in

May, said more expensive fuel and food items as well as the soaring dollar could bloat the trade gap. For this year, the FMIC-UA&P expects the dollar-peso rate to average P54 to P55 to the dollar and inflation to reach 5 percent. However, the think tank expects GDP growth to hit the lower end of its 6 to 7 percent forecast that it made at the start of the year. Despite the outlook of higher inflation and slightly lower growth, Abola said a credit rating downgrade is still not expected this year and even next year.

Remittances

THIS will be driven by the steady source of remittances which will help drive consumer spending, which accounts for 70 percent of the country’s GDP. Abola noted that remittances would also benefit greatly from the depreciation of the peso. The think tank said OFW remittances, which increased to $35 billion in 2021, will likely grow by 3.5 to 5.5 percent this year. Another important factor, Abola said, is the growth of the Business Process Outsourcing (BPO) sector, which is expected to post a growth of 6 percent this year. The BPOs would also benefit from the peso depreciation. “So my call is that we will have a low probability of downgrading in 2022 to 2023 and unlikely further on as we grow faster,” Abola stressed. Abola also noted that the President’s choice of economic managers is “excellent,” stating that the economic team is now composed of the “best of the best” for the job. He added that the economic managers have experience and the integrity for the posts they occupy. This means, Abola said, that the choice of economic team went beyond partisan lines, thus creating a formidable group. He also noted that the President’s decision to take on the Agriculture portfolio says

C  A

that countries must meet while researching the best countries to work in remotely by thoroughly evaluating a range of data,” she added.

Index dimensions

DFA Undersecretary for Migrant Workers Affairs Eduardo José A. de Vega

Think tank sees trade deficit rising to $50B C  A

PHL...

a lot about the administration’s commitment to the sector. With this, Abola said the President may actually be “generating positive” for the country’s economic growth. He also agreed with some policies of the administration such as focusing on agriculture and infrastructure. “We’re thankful for their confidence and trust in us. We’ll give our best. As always, if we honestly believe that we’ve done the best we can, given the conditions and circumstances, we don’t have anything to prove or regret. We only have to be thankful for the opportunity and privilege to serve our country and people,” Socioeconomic Planning Secretary Arsenio M. Balisacan told the BUSINESSMIRROR on Wednesday.

Growth drivers

IN a statement, the think tank said the country’s economic growth will be driven by sustained domestic demand—household consumption, government and investment spending—which grew by 11 percent in the first quarter of the year. As central banks continue to rein in elevated inflation, interest rates are expected to rise from its current levels by an average of 100 basis points across the curve. In the capital markets, corporate bond issuances in the first half have already exceeded last year’s full year volume. With the current interest rate environment, corporate bond issuances could slowdown in the second half of the year. In the equities market, earnings per share (EPS) growth is seen to hit 10 percent and 17x PE. The Philippine Stock Exchange index (PSEi) is projected to reach 7,100 by yearend fueled by attractive valuation and positive investor sentiment. Expected to drive the market upward include the new government’s pronouncement of the continuation of policy reforms; economic expansion; infrastructure rollout; and market-friendly reform measures.

THE index was compiled by assessing and comparing the countries using the four index dimensions— cyber security, digital infrastructure, economic and social conditions, and Covid-19 handling. In terms of the country’s performance, the Philippines posted its highest ranking in terms of cyber security at 45th out of 66 countries, with a score of 0.632 out of a perfect score of 1. The country ranked the lowest in terms of digital infrastructure at 64th out of 66 countries. The Philippines scored 0.393 out of 1. The Philippines ranked 54th in Covid-19 response with a score of 0.513 and 56th in terms of economic and social conditions. The cyber-security assessment includes infrastructure, response, and legal measures while economic and social conditions include safety, tourism attractiveness, English proficiency, cost of living, and health care. The dimensions also include digital and physical infrastructure including internet quality, affordability, e-infrastructure, e-government, physical infrastructure, and co-working spaces. In terms of Covid-19 response, this took into consideration vaccination and response rates. “The Global Remote Work Index puts emphasis on the safety and reliability of both the physical and digital environment. It also gave special attention to cyber security. In this regard, it is an excellent resource for remote employees who wish to relocate or work in a nation other than that of their current residence,” Gurinaviciute said. NordLayer said Canada, the UK, Portugal, the USA, and Germany, respectively, are the five most favorable countries for remote work regarding economic and social conditions. However, countries’ levels of wealth don’t guarantee cybersafety. However, NordLayer said countries such as Malta, New Zealand, and the UAE rank relatively high in economic and social conditions, though they experience higher cyber-security risks than other countries with similar economic and social conditions. The index also showed that remote workers willing to find a cheaper location to relocate will have to compromise on aspects like general safety or the level of English spoken in the country. For those choosing to work remotely, Gurinaviciute suggests remembering some practical tips for staying secure—even if the country is high up in the cyber-security ranking. These tips include using a separate device and accounts for work; keeping home networks secure; and rethinking passwords.

Boracay lands on TIME’s 2022 World’s Greatest Places list C  A

at 298,932; Western Visayas at 173,116; and Calabarzon at 155,335.

‘Our pride and honor’

IN a news statement, the DOT applauded the in-

clusion of Boracay Island in the TIME list. “We affirm our pride and honor as Boracay Island once again proved its allure as a tourist haven. Such recognition will surely help us attain our goal of regaining our position in the global market,” said Tourism Secretary-designate Christina Garcia Frasco. She added, “Surely, the Philippines has a multitude of sites and tourism activities that we can offer to the world. In addition to natural resources, we look forward as well to developing and promoting the talents of our people, and the products that have potential for national and global

marketability.” Boracay has also reaped similar distinctions in the past from international travel publications and news sites, like Conde Nast and CNN Traveler. Other than Boracay, another beach destination, Bali, was the other Southeast Asian destination that landed on the prestigious TIME list. The list likewise included Asian destinations like Kerala and Ahmedabad in India, Setouchu and Kyushu islands in Japan, and Seoul in South Korea. According to TIME, the list of 50 world’s greatest destinations was drawn up after nomi-

nations were solicited “from our international network of correspondents and contributions, with an eye toward those offering new and exciting experiences.” Frasco underscored, “Through collaboration between the DOT central and regional offices, relevant national government agencies, the local government units, and the private sector, we will exert all efforts to put in the limelight not only on the country’s premier tourist destinations like Boracay, but also other places of interest in the country which may not have been given equal focus and attention in the past.”

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Editor: Vittorio V. Vitug • Thursday, July 14, 2022 A3

SC affirms proceeding vs 13 UP fratmen in fatal 2007 hazing By Joel R. San Juan @jrsanjuan1573

HE Supreme Court (SC) has affirmed the validity of the preliminary inquiry conducted by the University of the PhilippinesStudent Disciplinary Tribunal (UPSDT) against 13 of its students believed to be involved in the fatal hazing of Cris Anthony Mendez in 2007. In a 16-page decision penned by Associate Justice Ramon Paul Hernando, the Court’s Second Division denied the petition filed by Ariel Paolo Ante assailing the decision issued by the Court of Appeals on October 6, 2015 and its resolution dated September 27, 2016,

which reversed and set aside the order issued by the Regional Trial Court of Quezon City, Branch 83 nullifying the proceedings of the UP-SDT against him and his co-respondents. T he U P- SD T pro ce e d i ng s stemmed from the administrative charges filed against 13 UP students and members of the Sigma Rho fraternity who allegedly participate in the initiation rites that led to the death of Mendez, a student of the National College of Public Administration and Governance. In particular, the formal charges accused them of leaving Mendez in the hospital and failing to give information to the authorities and comply

with the directives of UP’s Vice Chancellor for Student Affairs to provide information on the circumstances surrounding Mendez’s death. Ante argued in his petition that the preliminary inquiry was in violation of Section 1, Rule III of the Rules Governing Fraternities, which requires that the preliminary inquiry be conducted “by any member of the Tribunal.” The SC noted that parties argue over the correct interpretation of the phrase “by any member of the SDT.” Ante pointed out that the preliminary inquiry was done by the University Prosecutor and not by the SDT as required under the Rules

Governing Fraternities. On the other hand, the UP-SDT argued that the phrase should be construed as “through the means, act, agency or instrumentality” of any member of the SDT, thus, making the preliminary inquiry compliant with the provision, therefore, valid. “The term ‘inquiry,’ which means ‘to request for information’ in its ordinary sense, necessarily implies that SDT took part in the conduct of such. This alone, satisfies the requirement that the preliminary inquiry be conducted ‘by a member of the SDT,’” the SC said. “Moreover, we agree with the CA that it would be bordering absurdity

if the statement be interpreted to mean that SDT ‘merely served as observers of the University Prosecutor, with themselves physically present thereat but meaning nothing at all.’ Thus, contrary to Ante’s assertion, to split hairs between the phrases ‘by the Student Disciplinary Tribunal’ and ‘before the Student Disciplinary Tribunal’ is actually a trifling matter,” the Court added. The SC also did not give credence to Ante’s claim that his right to due process was violated when UP-SDT found prima facie case against him, even though what is required by the school regulations is merely determination of the sufficiency of a report

or complaint. The SC held that Ante’s claim of due process violation is “premature” since formal proceedings on the case have yet to start. “SDT is in fact asking Ante to participate—the very essence of due process—but the latter so stubbornly refuses to do so and instead resorts to procedural devices meant to avoid the proceedings,” the SC noted. “As to the argument that the finding of a prima facie case against him amounts to prejudgment, we find the same lacking in merit. Neither does it shift the burden of proof to him, nor violate the presumption of innocence in his favor,” it added.

Senate joins probe into reported abuse, harassment cases at PHSA By Butch Fernandez

@butchfBM

HE Senate is poised to mount an inquiry into reported abuse and harassment incidents in the state-run Philippine High School for the Arts (PHSA) in Los Baños, Laguna. “It is imperative that the Senate, exercising its oversight powers, initiate a thorough but expeditious investigation on the matter to ensure PHSA and other educational institutions are safe spaces, especially with the upcoming blended/face-to faceclasses in August,” stated the resolution filed by Senator Risa Hontiveros.

The resolution paved the way for the Senate leadership’s referral of the case to the Senate Committee on Women and Children, Family Relations, chaired by Hontiveros, who was expected to promptly open her committee’s inquiry into reported cases of abuse and harassments at the PHSA. In referring the resolution, the Senate leadership expects a thorough inquiry that will lead to the filing of urgent remedial legislation by Senator Hontiveros ensuing from Senate Committee on Women, Children, Family Relations and Gender Equality inquiry into the alleged gender-

based sexual harassment, emotional abuse and other violence experienced by alumni and students of the said government-run boarding school, as well as to look into possible violations of the Safe Spaces Act. As principal author of the Safe Spaces Act, Hontiveros earlier vowed to provide support for vital witnesses, first-hand victims who came forward and testify before the Senate committee to reveal their harrowing experiences, in the hope their testimony would lead to more effective remedial legislation to address the problem. Hontiveros confided she earlier

met with some of the first hand victims, citing information conveyed to her “a PHSA student, a minor, has formally filed a complaint against a PHSA non-teaching staff after being catcalled in November 2019 in campus.” The senator cited a report listing that there were already other complaints filed but they were “downplayed by the PHSA Administration, brushed off as hearsay and were not entertained for failing to comply with the format required under existing Civil Service rules.” Worse, survivors of abuse claimed to have been victim-

blamed, silenced, and neglected by the PHSA administrators. She cited the Safe Spaces Act requiring schools to provide a gender-sensitive environment and confidential mechanism for the reporting and redress of grievances on matters of sexual and genderbased harassment. The lawmaker’s resolution noted that, “If the accounts are accurate, the repeated failure of PHSA administration to address the violence and abuses is a blatant violation of the Safe Spaces Act and a flagrant disregard of the interests of PHSA students—interests they are duty-

bound to protect and promote as persons reposed with special parental authority.” More o ve r, t he s e n ator stressed “the urgent need to review the reporting protocols and the procedures of the Committee on Decorum and Investigation of the educational institutions tasked to investigate and address complaints of abuse and harassment.” She expects the upcoming inquiry to “determine the lapses and propose corresponding reforms to improve implementation of the Safe Spaces Act and other child protection policies.”

A4 Thursday, July 14, 2022 • Editor: Vittorio V. Vitug

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PBBM sets infra, service model in bid to boost tourism in PHL By Samuel P. Medenilla @sam_medenilla

HE government is eyeing a nationwide infrastructure and service benchmark for the local tourism sector to boost its

competitiveness abroad. During his second Cabinet meeting on Tuesday, President Ferdinand “Bongbong” R. Marcos Jr. said he wants local tourism-related infrastructures to be at least at par with other top tourist destinations such as Singapore.

He pointed out how the city-state attracts tourists despite its “limited natural resources.” Such facilities, he said, should also be accompanied with world-class services, particularly health care, such as those in Hawaii and Thailand.

“We just have to support the plan to develop all of these enabling environments— the policy, conditions, and infrastructure,” Marcos Jr. said. Tourism Secretary Christina Garcia-Frasco took note of Marcos’s observation, which she hopes to implement by replicating the tourism benchmark of other countries like Singapore. “To benchmark their policies in this regard would be the direction that we would take per your instructions,” Frasco said. “Many measures could be improved as far as policy regulations,

both on the national and local level, and proper coordination—to be able to focus on the overall tourist experience—from the time that he arrives to the point of entry to the time that he gets to his point of destination,” she added. Since the government eased arrival protocols for foreign tourists last February, the Department of Tourism (DOT) reported foreign tourists arrivals in the country reached over 500,000 as of last May. DOT expects foreign tourist arrivals this year to reach 1 million to 1.2 million as the government further relaxed their pre-departure requirements last May.

Marcos picks Sabin Aboitiz as PSAC head

RESIDENT Ferdinand “Bongbong” R. Marcos Jr. has recently requested Aboitiz Group CEO Sabin M. Aboitiz to organize and convene the Private Sector Advisory Council (PSAC). The council is composed of business leaders and experts who will be supporting the government in meeting its economic objectives across five main sectoral groups. Designated sector leads include Aileen Uygongco-Ongkauko for Agriculture, Sabin Aboitiz for Build, Build, Build and Tourism, Joey Concepcion for Jabs to Jobs, Henry Aguda for Digital Infrastructure, and Paolo Borromeo for Healthcare. As the Aboitiz Group undertakes its own “Great Transformation” journey from a legacy conglomerate into a “techglomerate” of the future, Mr. Aboitiz responded to the President’s call and expressed his full commitment to supporting the new administration’s business and economic aims for the country. “The close partnership between the public and private sectors will continue to deepen with the establishment of PSAC under President Marcos. We are

optimistic that by working hand-in-hand with the government to develop the five priority areas, we will see a revitalized economy that all Filipinos will benefit from,” said Mr. Aboitiz. The newly established council pledges to help the government deliver on its commitment to transform the Philippine economy by implementing a robust infrastructure program, creating more jobs, digitizing processes, improving agricultural productivity through the recalibration of micro, small and medium enterprises (MSMEs), and ensuring an equitable, sustainable, and inclusive business landscape for Filipinos. PSAC’s sectoral groups will regularly report to the President to provide feedback on what is happening on the ground and will make recommendations on modern policy development. In accepting the role as PSAC convenor, the Aboitiz Group chief hopes to bring together several of the country’s brightest and boldest business minds in order to create and strengthen innovative new synergies between the private and public sectors.

Solon to DOTr and DBM: Find ways to sustain ‘Libreng Sakay’ program

SENIOR lawmaker on Wednesday asked the Department of Transportation (DOTr) and Department of Budget and Management (DBM) to look for fresh funding to sustain the “Libreng Sakay” program. Camarines Sur Rep. LRay Villafuerte said this is the very least that the Marcos Jr. administration can do for poor and low-income commuters in the National Capital region amid global oil shock that has jacked up headline inflation and prompted the government to increase public transport fares. Villafuerte said the continuation of Libreng Sakay in Metro Manila would help ease the economic woes of commuters saddled with ever-rising fuel prices and the newly approved fare hike. Villafuerte issued this statement after Transportation Secretary-designate Jaime Bautista revealed that the DOTr would seek an additional outlay of P1.4 billion as the agency has no available funds in its 2022 budget to continue with Libreng Sakay till end-December. “Ca r r y ing on w it h Libreng

Sakay should top the concerns of both the DOTr and DBM, considering that one of the very first official acts of Mr. Marcos on his first full day as President last July 1 was for the DOTr to carry on with this program for the benefit of Metro Manila commuters,” Villafuerte said. “Transportation Secretary Jaime Bautista should exert his very best effort in making sure Budget Secretary Amenah Pangandaman is able to source or realign at least P1.4 billion in public funds to bankroll Libreng Sakay till the year end, in keeping with President Marcos’s July 1 directive,” Villafuerte said. President Marcos approved last July 1 the recommendation of Bautista to extend the free rides program for buses plying the Edsa Carousel Busway until end-December along with the free rides in the Metro Rail Transit Line 3 (MRT 3), Light Rail Transit 2 (LRT 2) and Philippine National Railways (PNR) for students, at least for the first quarter of school year 2022-2023 from August 22 to November 4. Jovee Marie N. Dela Cruz

ERC pressed anew to expedite okay of refunds, unbundling of fuel prices By Jovee Marie N. Dela Cruz @joveemarie

LAWMAKER on Wednesday pressed the Energy Regulatory Commission (ERC) anew to expedite the approval of refunds or rebates pending before the agency and called for unbundling of fuel prices. In a news statement, Bagong Henerasyon Party-list Rep. Bernadette “BH” Herrera said given these times of elevated inflation, more refunds and rebates would certainly be welcome for most Filipinos. “If there are any more refund or rebate matters pending before the ERC, I request the ERC to expedite, please,” said Herrera. Overbilled Meralco customers stand to get an estimated P21.8-billion refund equivalent to 87 centavos per kilowatt-hour in compliance with an earlier ERC order. The congresswoman said unbundling

fuel prices “is one more way to protect consumers and businesses from incorrect passing on of costs to them. Verifiability, auditability, and proper disclosure must be the transparency standards applied also on fuel prices.” With unbundling of fuel prices, point of sale purchases of gasoline, diesel, kerosene, and LPG would have to show the breakdowns of the costing of the fuel, in somewhat the same way as the breakdown of our electricity bills. The Makabayan bloc has already refiled its proposed Unbundling Oil Prices Act. Moreover, Herrera said the refunds and rebates indicate the verifiable and auditable electricity pricing system is working for the most part. “Fuel prices impact on electricity rates could be addressed better if fuel prices are unbundled to reflect the detailed components of fuel costs,” the lawmaker added.

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Groups weigh in on nomination of Yulo-Loyzaga as DENR chief By Jonathan L. Mayuga @jonlmayuga

ITH Malacañang’s official announcement on the nomination of Antonia Yulo-Loyzaga as the country’s chief steward of the environment and natural resources, various groups have issued statements welcoming her to President Ferdinand “Bongbong” R. Marcos Jr.’s Cabinet, while expressing hope of enforcing environmental policies in their favor. The Department of Environment and Natural Resources (DENR), an agency mandated to manage the country’s environment and natural resources, also acts as a regulatory agency for development projects, like quarrying and mining, and other environmentally-critical projects like massive land reclamation in coastal areas and other water bodies like lakes and rivers.

Balancing act

MINING companies belonging to the Chamber of Mines of the Philippines (COMP), an association composed of most of the country’s large-scale metallic minerals development companies, said it looks forward to working with Yulo-Loyzaga “in fulfilling President Ferdinand R. Marcos Jr.’s thrust of striking a balance between economic development and environmental protection under his administration.” “We are prepared to work with Secretary Yulo-Loyzaga in her advocacies, particularly disaster risk reduction and response, sustainable development goals, and climate change protection,” Michael Toledo, COMP chairman said.

Stop quarry, mining operations

ENVIRONMENTAL groups, however, are quick to call on the new DENR chief to stop destructive quarrying and mining operations. The Masungi Georeserve Foundation said it recognizes Yulo-Loyzaga’s invaluable leadership as a former Executive Director of the Manila

Observatory (MO). “After Typhoon Ondoy, the MO led the scientific studies which proved the impacts of the Upper Marikina Watershed’s deforestation to increased flood risk in towns and cities. The science is clear: restore the watershed to protect the people. We are hopeful that the new secretary will share our vision and those of many others to make Masungi and the Upper Marikina Watershed free from quarry interests and other intrusive developments,” the group said in a message e-mailed to the media.

Urgent climate action

THE environmental group Kalikasan-People’s Network for the Environment (Kalikasan-PNE) expressed hope that Yulo-Loyzaga will take urgent climate action based on the global frameworks and standards on disaster risk reduction and climate resilience in her exercise of leadership. “Being a former executive director of Ateneo’s Manila Observatory and current president of the National Resilience Council, Secretary Toni should understand well the rapidly closing window for climate action over the next three to eight years,” the group, through its national coordinator Leon Dulce said.

Stop reclamation projects

THE group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas, for its part, urged the new DENR chief to “stop reclamation projects especially in Manila Bay which is undergoing rehabilitation.” “Incoming DENR Secretary YuloLoyzaga should stop all the ongoing reclamation projects across the country, especially in Manila Bay. She must adhere to the mandate of her department to protect and preserve Manila Bay for the benefit of the people. Reclamation has long been proven to be destructive both to marine biodiversity and livelihood of fisherfolks,” Ronnel Arambulo, the group’s national spokesperson said.

IPOPHL and KIPI forge automation partnership By Andrea San Juan

HE Intellectual Property Office of the Philippines (IPOPHL) has partnered with the Korean Institute of Patent Information (KIPI) for in-depth study to further automate IPOPHL services. In a news statement issued on Wednesday, IPOPHL said that the study will result in recommendations for a medium to long-term strategy for IPOPHL to automate identified processes. KIPI’s International Cooperation Team (KIPI-ICT) visited IPOPHL at its Taguig headquarters from June 20 to June 23 to establish a baseline knowledge of IPOPHL systems and identify challenges which could be addressed by KIPI’s suite of automation solutions. “IPOPHL’s bureaus presented the most critical aspects of their internal processes and external services, from search systems, online marketing strategies and ongoing innovations in its information and communications technology infrastructure to filing services, customer support and IP databases,” said IPOPHL in the statement. KIPI’s ICT is composed of IP systems researchers who visit IP offices in different countries to offer consulting collaborations. The group has conducted consultations in over 21 countries since 2013. “The consulting projects are mainly knowledge-sharing. We visit different IP offices to share our experiences, while also getting the proponent countries’ know-how on their own IP systems,” said KIPI-ICT Project Manager Soon Sup Youn. Two notable consulting projects

of KIPI were with the United Arab Emirates (UAE) from 2016 to 2019 and Paraguay from 2019 to 2021, which resulted in the further delivery of their IP services. “We remain committed to creating a close and consistent cooperation during the duration of our consultation and implementation periods, which is why we have seen the impressive success of both countries in adapting our IP systems,” Youn added. “We also look into developing IP automation projects and their alignment with the country’s current system,” added Youn. Some existing KIPI solutions being explored are a centralized platform for searching all types of IP and an IP data distribution platform that could allow IPOPHL’s seamless data sharing with local and international partners. The newest partnership with KIPI contributes to IPOPHL’s implementation of its six-point BRIGHT Agenda, according to IPOPHL Director General Rowel S. Barba. “Our BRIGHT Agenda highlights how integral partnership-building is in future-proofing the agency’s services, especially as we aim to continue helping stakeholders to maximize the IP system for their recovery from the pandemic,” said Barba. The consulting project on IP automation between IPOPHL and KIPI will conclude in November 2022 and could result in a deeper collaboration with the Korean government in the future. An affiliated public institute founded by the Korean IP Office (KIPO), KIPI was also represented by Researchers Seung Sook Lee, Hyuk Jun Lee and Jong Hyun Lee and Assistant Researcher Ki Suk Jung.

Thursday, July 14, 2022 A5

DOTr’s Bautista on right track in resolving NCR commuter woes. What’s the next step?

By Lorenz S. Marasigan

@lorenzmarasigan

EPARTMENT of Transportation (DOTr) Secretary Jaime J. Bautista’s move to “reset” his agency’s performance matrices to be commuter-centric compared to the previous leadership’s focus on infrastructure progress is the correct first step to addressing the current transportation crisis.

In a consolidated statement, Move As One Coalition, Move Metro Manila, Manibela, and Komyut said they have “thus far” found Bautista to “be paying attention to the right things as he tackles the public transportation crisis left by the former leadership.” “Bautista’s commitment to provide accessible, affordable, comfortable, and safe transport service is reassuring. He is practically resetting the agency’s performance metrics to be centered on the commuters’ experience, very unlike the previous leadership’s emphasis on infrastructure progress,” noted Move

DAR-DHSUD housing project to benefit 200 Albay farmers

OME 200 farmers from the town of Albay will benefit from a low-cost socialized housing project under the Building Adequate, Livable, Affordable, and Inclusive Filipino Communities (BALAI) project, the Department of Agrarian Reform (DAR) announced on Wednesday. A joint undertaking of the DAR and the Department of Human Settlements and Urban Development (DHSUD), BALAI aims to provide affordable housing units to agrarian reform beneficiaries. DAR Provincial Office of Albay led the ceremonial ground breaking recently with BALAI National Coordinator Raymund A. Matic along with Tech4Ed Head Dra. Leilani D. Pavilando, Guinobatan, Albay Vice Mayor Ann Y. Ongjoco, DAR Director Roberto Gavina, Guinobatan Agrarian Reform Chief Jocelyn Naz, and BALAI Regional Coordinator Lolita Adricula. Regional Director officer in charge Rodrigo O. Realubit said 200 units of bungalow-type houses will be constructed on a 2.6-hectare parcel of land in Barangay Upper Binogsacan donated by the local government of Guinobatan, an area overlooking the majestic Mount Mayon. “This initiative not only intends to provide the poor with a home but also to honor our unsung heroes— our farmers, who are among the most neglected sectors of our society,” Realubit said in a news release. About 170 units would be allocated to eligible members of the dairy cooperative with no houses, while the remaining units will be made available to other low-income farmers in the area. “The 36-square-meter concrete homes will have two bedrooms, one toilet with electricity and water connections, a granite kitchen, tiled floors, and completely painted interior and exterior walls,” Realubit said. Each house costs P520,000.00, which will be paid by the farmers over a maximum of 25 years at only 2 percent to 3 percent annual interest. Jonathan L. Mayuga

Metro Manila’s Convenor Dr. Grace Gorospe-Jamon. To recall, in his first days in office, Bautista took a Metro Rail Transit (MRT) Line 3 ride to observe the problems that daily commuters face. He is also planning to do the same for street buses and jeepneys. Aside from this, he has also directed to implement a multi-agency approach to meet the demand for public transportation come the reopening of face-to-face classes. He has ordered the “careful calibration” of all transport assets, directing line agencies, including the Land Transportation Franchising

and Regulatory Board (LTFRB), to ensure the continuous implementation of the Service Contracting Program (SCP), Libreng Sakay Program, and to fast track the rationalization of public transport routes. Bautista has also directed the full deployment of all 550 buses in the Edsa Busway, especially during rush hours, and the availability of equity subsidy as downpayment for the acquisition of modern public utility vehicles (PUVs) under the Public Utility Vehicle Modernization Program (PUVMP). The transport chief has also ordered the immediate release of P1,000 fuel subsidy to 617,806 qualified tricycle driver-beneficiaries as listed by the Department of the Interior and Local Government (DILG). For its part, Move as One Coalition urged Bautista to have some sectoral representatives accompany him in his commuting plans. These include cyclists, transport workers, and persons with disabilities, among others. “Bautista’s latest directive to fully deploy 550 buses on the Edsa Busway is a sign that the transport chief recognizes the public transport supply shortage. Bautista ought to look more closely into the supply problem, specifically the operational challenges faced by the industry, and the LTFRB processes in relation to the limited

supply,” said Robert Siy of the Move As One Coalition. Mar Valbuena, a representative of transport group Manibela, noted that Bautista should also review the processes of the LTFRB, especially requirements that they deem as “too much.” “A significant number from our group wants to ply routes and serve the public because this is our main source of income. However, it seems that we have to go through the eye of a needle to do this because of the many requirements of the LTFRB. We have to shell out too much money for a temporary permit. We hope that instead of focusing on the rationalization of routes, Bautista could prioritize the rationalization of the processes of the LTFRB,” Valbuena said. Route rationalization was a priority for the past administration. It even conducted a study in 2018, results of which, the groups claimed, have never been released to the public. “We, the commuting public, hope thatBautistawillprioritizeaccessibility oftransportservice.Thekilometer-long queues in daily commutes will serve as a constant reminder to Bautista of his promisetocommuters,”addedKomyut representative Toix Cerna. The BusinessMirror sought the side of Bautista for comment, but he or his representatives have yet to reply to our request.

BusinessMirror

Thursday, July 14, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

3D ANALYZER INFORMATION TECHNOLOGIES INC. 7-8/f Double Dragon Plaza, 255 Edsa Cor. Macapagal Blvd., Barangay 76, Pasay City

LE VAN SANG Customer Service Representative - Mandarin Speaking 11.

ANGELINE PONIMAN Customer Service Representative - Mandarin Speaking 1.

Brief Job Description: Attracts potential customers by answering products and service questions; suggesting information about other products and services; maintains customer records by updating account information in mandarin format.

BUDI KUSUMA Customer Service Representative - Mandarin Speaking 2.

CHAN JIA YONG Customer Service Representative - Mandarin Speaking 3.

CHU SU FEN Customer Service Representative - Mandarin Speaking 4.

DENNY HARTANTO WIJAYA Customer Service Representative - Mandarin Speaking 5.

DESMOND CHIN YUNG CHUAN Customer Service Representative - Mandarin Speaking 6.

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

LIANG, JUN Customer Service Representative - Mandarin Speaking 12.

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

13.

14.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

PHAM THI CHAM Customer Service Representative - Mandarin Speaking 15.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

SIN YOKE LING Customer Service Representative - Mandarin Speaking 16.

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

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

NGUYEN THI DUNG Customer Service Representative - Mandarin Speaking

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

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

LING KAH PING Customer Service Representative - Mandarin Speaking

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: Mandarin Speaking w/ at Least Some Secondary Education

TRAN VAN TUAN Customer Service Representative - Mandarin Speaking 17.

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

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

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

Basic Qualification: Mandarin Speaking w/ at Least Some Secondary Education

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china. Salary Range: Php 30,000 - Php 59,999

SHI, YUE Mandarin Finance Manager 22.

NGUYEN CHI BAO Seller Onboarding Associate 18.

ERLINA Customer Service Representative - Mandarin Speaking 8.

FIONA Customer Service Representative - Mandarin Speaking 9.

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provides timely and accurate operation support to 3rd-Party Sellers on the Amazon Platform. Demonstrates effective, clear and professional written and oral communication.

23.

Basic Qualification: Mandarin Speaking w/ at Least Some Secondary Education

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

MA, ERQIANG Mandarin Customer Service 24.

Brief Job Description: Managing incoming calls and customer service inquiries

Basic Qualification: Mandarin Speaking w/ at Least Some Secondary Education Salary Range: Php 30,000 - Php 59,999

PRUDHOMME, GLENN ROGER Director Of Food & Beverage

10.

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible for improving efficiency and increasing food and beverage profits while managing departments

Brief Job Description: Managing incoming calls and customer service inquiries

Basic Qualification: Proven Experience as Mandarin HR Supervisor, Excellent Communication, Interpersonal and Presentation Skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: At least college level and able to speak, read write and type fluently in MANDARIN language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s Degree in Hospitality Management. At least 15 years of experience in the luxury setting Salary Range: Php 150,000 - Php 499,999

CGI (PHILIPPINES) INC. 2/f One World Square, Mckinley Hill, Pinagsama, City Of Taguig Basic Qualification: Fluency in Vietnamese language GREINER, STEFAN Multilingual Service Desk Member

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

Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: • Resolve issues utilizing excellent customer service skills, problem solving skills, technical thinking/reasoning skills, and a high level of individual judgment to ensure outcomes of customer satisfaction. • Receive and respond to user inquiries and requests via telephone, email, case tracking system professionally and with speed, accuracy and proficiency.

Basic Qualification: Able to speak, read and write Chinese language

Basic Qualification: • Must be fluent in German Language and also in English; • Vocational Diploma, Short Course Certificate Undergraduate, OR Bachelor’s Degree; • Background and Knowledge in IT is preferred Salary Range: Php 60,000 - Php 89,999

CHINA CONSTRUCTION FRONT GENERAL DEVT. CORPORATION Unit 3001, Atlanta Center, 31 Annapolis St., Greenhills, City Of San Juan

CAI, JIAYIN Project Assistant

20.

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

BONIFACIO LANDMARK HOTEL MANAGEMENT CORPORATION 2/f Gt Tower International, 6813 Ayala Ave. Cor. H.v. Dela Costa St., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 MAI VAN DUNG Vietnamese Customer Service Representative

JUNITA Customer Service Representative - Mandarin Speaking

Brief Job Description: Offer full range of customer service to employer and clients.

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

ANOC99 CORPORATION 5/f To 10/f Ayala Malls Manila Bay Building D., Macapagal Blvd. Cor. Aseana Street, Tambo, City Of Parañaque

19.

Brief Job Description: The Mandarin HR Supervisor will be a strategist and a leader able to steer the company in the most profitable direction while also implementing its vision, mission, and long-term goals

Basic Qualification: Proven Experience as Mandarin Finance Manager, Excellent Communication, Interpersonal and Presentation Skills

BIG EMPEROR TECHNOLOGY CORP. Eastfield Center, Cbp1, Macapagal Blvd., Barangay 76, Pasay City

26.

ZHOU, ZIJIE Chinese Customer Service Representative

Brief Job Description: The Mandarin Finance Manager will be a strategist and a leader able to steer the company in the most profitable direction while also implementing its vision, mission, and long-term goals

GUO, YANHONG Mandarin HR Supervisor

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

Basic Qualification: Fluent in spoken & written mandarin and other dialect spoken in other parts of china.

Basic Qualification: Bachelor’s degree human resources or related experience in talent acquisition specialist or similar. Proficiency in applicant tracing systems ability to manage complex projects and multi task. Ability to flourish with minimal guidance be proactive and handle uncertainty Hebrew speaker English speaker.

BESTER TELECOM PHILIPPINES CORP. 30f Burgundy Corporate Tower,, 252 Sen. Gil Puyat Ave.,, Pio Del Pilar, City Of Makati

Basic Qualification: Mandarin Speaking w/ at Least Some Secondary Education

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

QUALIFICATION AND SALARY RANGE

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

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex, Harbour Drive Cor. Bay Shore, Brgy. 076, Pasay City

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

Brief Job Description: Coordinate with hiring managers to identify staffing needs. Determine selection criteria. Source potential candidates through online channels (e.g. social and professional networks; plan interview and selection procedures including screening calls, assessment and in person interviews.

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

25. EKA SUSANTO Customer Service Representative - Mandarin Speaking

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

GAMLIEL, EYAL Talent Acquisition Specialist

21.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

www.businessmirror.com.ph

27.

Brief Job Description: Supervise and maintain contacts with potential stakeholders

Basic Qualification: 3 to 5 Yrs Working Experience Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 LIU, BO Project Assistant 28.

BEST RELIABLE RESOURCES CORP. Ub 111 Paseo De Roxas Bldg., Paseo De Roxas, San Lorenzo, City Of Makati

Brief Job Description: Supervise and maintain contacts with potential stakeholders

Basic Qualification: 3 to 5 Yrs Working Experience Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION WANG, LANYAN Project Assistant

29.

Brief Job Description: Supervise and maintain contacts with potential stakeholders

ZHANG, HAO Project Assistant 30.

ESTABLISHMENT / ADDRESS

Brief Job Description: Supervise and maintain contacts with potential stakeholders

QUALIFICATION AND SALARY RANGE

No.

Basic Qualification: 3 to 5 Yrs Working Experience Salary Range: Php 30,000 - Php 59,999

DONG, JIANGBO Chinese Speaking Technical Consultant 42.

31.

Brief Job Description: Plan and develop project idea; evaluate project performance

XIE, CHUNXU Project Manager 32.

Brief Job Description: Plan and develop project idea; evaluate project performance

XIN, LIANG Project Manager 33.

Brief Job Description: Plan and develop project idea; evaluate project performance

XU, RUIFENG Project Manager 34.

Brief Job Description: Plan and develop project idea; evaluate project performance

Brief Job Description: Assist/help customers, give customers information about product and services.

Basic Qualification: 3 to 5 Yrs Working Experience Salary Range: Php 30,000 - Php 59,999

LI, ZHENGBO Chinese Speaking Technical Consultant

Basic Qualification: 3 to 5 Yrs Working Experience

Brief Job Description: Assist/help customers, give customers information about product and services.

Basic Qualification: 3 to 5 Yrs Working Experience

LIENG SY MUI Chinese Speaking Technical Consultant 44.

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

Basic Qualification: 3 to 5 Yrs Working Experience

Brief Job Description: Assist/help customers, give customers information about product and services.

WANG, YANBO Chinese Speaking Technical Consultant 45.

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

Basic Qualification: 3 to 5 Yrs Working Experience Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Assist/help customers, give customers information about product and services.

XI, SHIQI Chinese Speaking Technical Consultant 46.

Brief Job Description: Assist/help customers, give customers information about product and services.

YU, JIAYU Chinese Speaking Technical Consultant

35.

Brief Job Description: Assist/help customers, give customers information about product and services

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written

ARGINTA SALIM Corporate Bank Coverage Banker 36.

Brief Job Description: Handle all official documents of the bank with utmost care and to keep any information relating to the processes or operations of the bank confidential at all times

47.

Basic Qualification: At least 7 years of relevant experience. Professional Degree or MBA holder

Brief Job Description: Assist/help customers, give customers information about product and services.

ZENG, CHUAN Chinese Speaking Technical Consultant 48.

Brief Job Description: Assist/help customers, give customers information about product and services.

ZHENG, SHAOQIU Chinese Speaking Technical Consultant 49.

Salary Range: Php 150,000 - Php 499,999

DIGITAL DECODER TECH. INC. Ub 111 Paseo De Roxas Bldg., Paseo De Roxas, San Lorenzo, City Of Makati

DAI, RENHE Account Manager

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

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

Brief Job Description: Assist/help customers, give customers information about product and services.

56.

BAI, ZHENZHEN Mandarin Customer Support Representative

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

37.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

WU, CHENG-EN Mandarin Customer Support Representative 38.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

YAN, XUETING Mandarin Customer Support Representative 39.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

50.

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

Basic Qualification: Able to speak and write in MANDARIN and at least college level with related BPO experience.

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written. Salary Range: Php 30,000 - Php 59,999

TAN CHEOW YING Chinese Speaking Data Entry Clerk 51.

Brief Job Description: Assist/help customers, give customers information about product and services.

59.

52.

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

Brief Job Description: Assist/help customers, give customers information about product and services.

LIU, LIMING Chinese Speaking Marketing Consultant

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written. Salary Range: Php 30,000 - Php 59,999

40.

Brief Job Description: Assist/help customers, give customers information about product and services.

YADAV, ANIL KUMAR Senior Assistant Vice President- Service Delivery And RFP Support

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 53.

DING, HAOWEI Chinese Speaking Technical Consultant 41.

Brief Job Description: Assist/help customers, give customers information about product and services.

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Accountable for owning the assigned business portfolio from service delivery. People management, financial metrics and supporting larger business unit goals. Solutioning & implementation design- work with the business development teams or strategic deal team to build customized solutions for new client engagements for Philippines geo. Building capability in emerging business- responsible to bring innovation, thought leadership to the business unit by developing new & improved frameworks that will enable improved service delivery with enhanced industry knowledge for the team.

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

Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

LIDYA JENIFER KAMAGI It Customer Support

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

Basic Qualification: Strategic leader with 19 years of diverse global experience in operations management, transition management, solution management, quality management, training management, project management & RFP support. Domain exposurecollection, mortgage, FNA (O2C, P2P, T&E, payrolls) HRO, legal (contract management, litigation support) and resiliency

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

CHEUNG, KIN WAI It Customer Support

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

CUI, YUNA Marketing Associates

EXLSERVICE PHILIPPINES, INC. 6th Floor, One E-com Center, Harbor Drive, Mall Of Asia Complex, Pasay City

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

Brief Job Description: Assist/Help customers, give customers information about product and services

HAO, YEN-LIEN Administrative Assistant

63. DOMINUS VISA CONSULTANCY INC. 37th Floor Lkg Tower,, 6801 Ayala Avenue,, Bel-air, City Of Makati

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

Basic Qualification: Proven experience as project manager, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: At least 19 years old; ability to speak, write and communicate in Thai Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With At least 6 Months Customer Service Experience/Good in Oral Communication and Written Salary Range: Php 30,000 - Php 59,999

INTEGRITY GLOBAL GROUP, INC. 2/f-3/f Ayala Malls Circuit, A.p. Reyes Ave., Carmona, City Of Makati

62. YUAN, ZHIQIANG Chinese Speaking Data Entry Clerk

Brief Job Description: Assist/help customers, give customers information about product and services.

WANG, ZHONGYU Chinese Speaking Program Designer

61.

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

Basic Qualification: Able to speak and write in MANDARIN and at least college level with related BPO experience.

Brief Job Description: Assist/help customers, give customers information about product and services.

SOO CHANG KUAN Chinese Speaking Program Designer

DYNAMIC STUDIO TECHNOLOGY INC. 5th To 10th/f Platinum Tower Building, Aseana Ave. Cor. Fuentes Street, Baclaran, City Of Parañaque

OU, MEIJIN Chinese Speaking Data Entry Clerk

Brief Job Description: Maintains financial account; recommend potential products and services; attract potential to a customers.

NGUYEN THI HUYEN TRANG Chinese Speaking Program Designer

60. Basic Qualification: Able to speak and write in MANDARIN and at least college level with related BPO experience.

Basic Qualification: Proven experience as account manager, excellent communication, interpersonal and presentation skills.

INFOVINE INC. 9/f Y Tower, Moa Complex, Coral Way Drive Cor. Macapagal, Barangay 76, Pasay City

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

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

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

CHAO, HAN-KUANG Chinese Customer Service Representative

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

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

QUALIFICATION AND SALARY RANGE

GAO SHOU TECHNOLOGY MANAGEMENT, INC. 52/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

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

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

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

FU, LUN Project Manager

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

FIBERHOME PHILS., INC. U-19d 19/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati

58.

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

DEUTSCHE BANK A.G. 19th Floor Four/neo, Building,, 31st Street Corner 4th Avenue, Bonifacio Global City,, Fort Bonifacio, City Of Taguig

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

No.

57.

CRONYX INC. Flr. No. 4th-10th, Yinhope Bldg., Dela Rama Cor. Zoili Hilario St., Seascape Village, Ccp Complex Subd., Zone 10, Barangay 76, Pasay City

ZHU, KAIXUAN Chinese Speaking Data Entry Clerk

QUALIFICATION AND SALARY RANGE

55.

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

ESTABLISHMENT / ADDRESS

54.

43. JIANG, WEI Project Manager

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, July 14, 2022

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

EOM, YEHEE Marketing Associates 64.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

KIM, JINKYU Marketing Associates 65.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications Salary Range: Php 30,000 - Php 59,999

BusinessMirror

Thursday, July 14, 2022

A6 A8

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LEE, INAE Marketing Associates 66.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

LIU, GUANGNYU Marketing Associates 67.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications Salary Range: Php 30,000 - Php 59,999

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

68.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

69.

Brief Job Description: Will be responsible for carrying out all tasks associated with candidate examination scheduling.

78.

IYOTA, SUSUMU Consultant

Basic Qualification: Japan native language

Brief Job Description: Exhibit technical competence in Japan’ quality and safety standard of telecom and infrastructure

Salary Range: Php 150,000 - Php 499,999

79.

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

AUNG TUN Burmese Customer Service Representative

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications Salary Range: Php 30,000 - Php 59,999

Brief Job Description: In-charge in preparation and development of the curriculum.

81.

Brief Job Description: In charge of processing payroll of 12000 companyemployed seafarers; accountable and manage for delivery of accurate internal reporting; Lead the global payroll team in a significant global function in a large BU

Basic Qualification: Education degree major in English; 2 years’ experience. Salary Range: Php 90,000 - Php 149,999

Brief Job Description: Supervision and control of the general accounting functions and responsibilities, department’s goal.

84. Basic Qualification: N/A

73.

Brief Job Description: Manage the marketing department staff; direct marketing strategy; keeping informed of new trends.

NA, SEUNGYONG Korean Marketing Manager 74.

Brief Job Description: Manage the marketing department staff; direct marketing strategy; keeping informed of new trends.

Brief Job Description: Managing incoming calls and customer service inquires

96.

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

Basic Qualification: Able to speak, read, and write Chinese language

97.

98.

99.

KYAW WIN Burmese Customer Service Representative

100.

Basic Qualification: 2 years’ experience; ability to analyze financial data; excellent leadership skills especially with Koreans.

MAY MOE THU Burmese Customer Service Representative 86.

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

Brief Job Description: Managing incoming calls and customer service inquires.

WIN THU Burmese Customer Service Representative 88.

Basic Qualification: 2 years’ experience; can speak and relate well especially to Korean nationals. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquires

OHN MAR AYE Burmese Customer Service Representative

Basic Qualification: 2 years’ experience; can speak and relate well especially to Korean nationals. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquires

101.

Brief Job Description: Managing incoming calls and customer service inquires

102.

103.

Brief Job Description: Managing incoming calls and customer service inquiries

WANG, JINGYAN Chinese Customer Service Representative 104.

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires

WANG, HUAZE Chinese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language.

Brief Job Description: Managing incoming calls and customer service inquires

PENG, YANLI Chinese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires

MA, XINGPENG Chinese Customer Service Representative

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

Basic Qualification: Able to Speak, Read and Write Chinese Language

Brief Job Description: Managing incoming calls and customer service inquiries

MA, LEI Chinese Customer Service Representative

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

Basic Qualification: Able to Speak, Read and Write Chinese Language

Brief Job Description: Managing incoming calls and customer service inquiries

LYU, GUANGHUI Chinese Customer Service Representative

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

Basic Qualification: Able to Speak, Read and Write Chinese Language

Brief Job Description: Managing incoming calls and customer service inquires

HUANG, YEBEN Chinese Customer Service Representative

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

Basic Qualification: Able to Speak, Read and Write Chinese Language

Brief Job Description: Managing incoming calls and customer service inquiries

HUANG, HUALIN Chinese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires

HE, WEI Chinese Customer Service Representative

Salary Range: Php 500,000 and above

87. JEONG, KYEONGMIN Korean Marketing Manager

Brief Job Description: Managing incoming calls and customer service inquires

KYAW NAING Burmese Customer Service Representative

MAI MAI INFO TECH INC. 9/f Double Dragon Plaza Tower 3 Bldg., Macapagal Ave. St. Zone 10 District 1, Barangay 76, Pasay City

72.

Brief Job Description: Managing incoming calls and customer service inquires

KYAW KYAW AUNG Burmese Customer Service Representative

85.

HONG, CHANGOK Korean Finance Supervisor

Brief Job Description: Managing incoming calls and customer service inquires

KHIN AYE WIN Burmese Customer Service Representative

MAERSK CREW MANAGEMENT SERVICES PHILIPPINES INC. (MAERSK CREW MANAGEMENT) One E-com Ctr., Moa Complex, Harbor Drive, Barangay 76, Pasay City

71.

Brief Job Description: Managing incoming calls and customer service inquires

AYE MYAT THU Burmese Customer Service Representative

83.

ATES, GÜNGÖR Managing Director / President

Brief Job Description: Managing incoming calls and customer service inquires

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires

HAN, LIAOFEI Chinese Customer Service Representative

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

Basic Qualification: 18-50 y/o, good organizational skills, proficient in relevant computer applications

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION FU, LINYU Chinese Customer Service Representative

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City

82.

70.

No.

95.

KOREAN SCHOOL FOUNDATION PHILIPPINES, INC. (KOREAN INTERNATIONAL SCHOOL PHILIPPINES) 6a, Upper Mckinley Road, Pinagsama, City Of Taguig

DOMAN, NATHAN MICHAEL English Language Curriculum Consultant

QUALIFICATION AND SALARY RANGE

94.

80. PARK, JUNYOUNG Marketing Associates

ESTABLISHMENT / ADDRESS

MG EXEO NETWORK, INC. Elizabeth Ave., Sta. Ana Drive, Sun Valley, City Of Parañaque

AUNG SAN OO Burmese Customer Service Representative PARK, JINWOO Marketing Associates

www.businessmirror.com.ph

Brief Job Description: Managing incoming calls and customer service inquires

WANG, YISHUN Chinese Customer Service Representative 105.

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

Brief Job Description: Managing incoming calls and customer service inquiries

WU, CHIH-KUAN Chinese Customer Service Representative ZAW LI Burmese Customer Service Representative 89.

Brief Job Description: Managing incoming calls and customer service inquires

Basic Qualification: Able to speak, read, and write Chinese language

106.

Brief Job Description: Managing incoming calls and customer service inquires

75.

Brief Job Description: Helps troubleshoot problems with costumer’s accounts and other related issues; provide the sales team with data reports and sales guide; work with sales manager to create and implement targeted sales strategies

LIM, DAEJIN Korean Sales Support Specialist 76.

Brief Job Description: Provide the sales team w/ data; report and sales guide; help create targeted sales strategies.

Basic Qualification: 2 years’ experience; can speak and relate well especially to Korean nationals.

CAO, JIE Chinese Customer Service Representative 90.

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

Brief Job Description: Managing incoming calls and customer service inquires

Basic Qualification: 2 years’ experience; can relate well w/ Koreans; can speak and understand Korean.

91.

Brief Job Description: Managing incoming calls and customer service inquires

MASAYA TRAVEL AGENCY OPC 3/f Space 301-2 Dr. A. Santos Avenue, Corner Palanyag Road, San Dionisio, City Of Parañaque

77.

Brief Job Description: Review proposal and contract from China; Prepare tour package for Chinese nationals

107.

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

Basic Qualification: Can translate Chinese documents for Filipino Staff and recruit, train and supervise staff Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquires

FU, JINWEI Chinese Customer Service Representative 93.

Brief Job Description: Managing incoming calls and customer service inquires

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquiries

ZHANG, WENLONG Chinese Customer Service Representative 110.

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquiries

YU, JIAXIANG Chinese Customer Service Representative 109.

92.

Brief Job Description: Managing incoming calls and customer service inquiries

XIE, HUAN Chinese Customer Service Representative

Basic Qualification: Able to speak, read, and write Chinese language

Salary Range: Php 30,000 - Php 59,999 CHEN, SHAOCONG Chinese Customer Service Representative

LI, YINGWU Operations Manager

Basic Qualification: Able to speak, read, and write Chinese language

108. CHEN, JIAZHENG Chinese Customer Service Representative

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 WU, WEIJIANG Chinese Customer Service Representative

KIM, HOONMIN Korean Sales Support Specialist

QUALIFICATION AND SALARY RANGE

Brief Job Description: Managing Incoming calls and customer service inquires.

ZHANG, XIN Chinese Customer Service Representative 111.

Brief Job Description: Managing Incoming calls and customer service inquires.

Basic Qualification: Able to speak, read and write Chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION ZHANG, YONGBING Chinese Customer Service Representative

112.

Brief Job Description: Managing incoming calls and customer service inquires

ZHAO, CHUANGHAO Chinese Customer Service Representative 113.

Brief Job Description: Managing incoming calls and customer service inquires

ZHOU, LEI Chinese Customer Service Representative 114.

Brief Job Description: Managing incoming calls and customer service inquiries

ANTONY Indonesian Customer Service Representative 115.

Brief Job Description: Managing incoming calls and customer service inquires

DARWIN SALIM Indonesian Customer Service Representative 116.

Brief Job Description: Managing incoming calls and customer service inquiries

EVA OFTIKA Indonesian Customer Service Representative 117.

Brief Job Description: Managing incoming calls and customer service inquiries

LAI SI JIE Indonesian Customer Service Representative 118.

Brief Job Description: Managing incoming calls and customer service inquires

LIM FUI PHIN Indonesian Customer Service Representative 119.

Brief Job Description: Managing incoming calls and customer service inquires.

CHAI KOK SOON Malaysian Customer Service Representative 120.

Brief Job Description: Managing incoming calls and customer service inquires

BRYAN TANG CHEN KIAT Malaysian Customer Service Representative 121.

Brief Job Description: Managing incoming calls and customer service inquires

CHANG KAR YAN Malaysian Customer Service Representative 122.

Brief Job Description: Managing incoming calls and customer service inquires

DOMINIC CHIN ZHEN TUNG Malaysian Customer Service Representative 123.

Brief Job Description: Managing incoming calls and customer service inquiries

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read, and write Chinese language

No.

CHIU A SAN Vietnamese Customer Service Representative 130.

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

Basic Qualification: Able to speak, read, and write Chinese language

131.

132.

133.

134.

135.

136.

137.

138.

139.

Brief Job Description: Managing incoming calls and customer service inquires

LE THI DUNG Vietnamese Customer Service Representative 140.

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires

LAI VAN AN Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquires

HOANG THI DIU Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries

HA VAN QUYEN Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries

HA THI THUY LINH Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language.

Brief Job Description: Managing incoming calls and customer service inquiries

DUONG THANH QUYNH Vietnamese Customer Service Representative

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

Basic Qualification: Able to Speak, Read and Write Chinese Language

Brief Job Description: Managing incoming calls and customer service inquiries

DUONG KHAC BINH Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries

DOAN VAN TUAN Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries

DAU THI HUYEN Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Managing incoming calls and customer service inquiries

DANG DINH TRUONG Vietnamese Customer Service Representative

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

Basic Qualification: Able to speak, read and write Chinese language

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing incoming calls and customer service inquires.

NGUYEN DUC NHAT Vietnamese Customer Service Representative 141.

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

Brief Job Description: Managing incoming calls and customer service inquires.

Thursday, July 14, 2022

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Able to speak, read and write Chinese language

No.

124.

Brief Job Description: Managing incoming calls and customer service inquires

LAI CHOON KIT Malaysian Customer Service Representative 125.

Brief Job Description: Managing incoming calls and customer service inquires

LIM CHI HOU Malaysian Customer Service Representative 126.

Brief Job Description: Managing incoming calls and customer service inquires.

NG LI YI Malaysian Customer Service Representative 127.

Brief Job Description: Managing incoming calls and customer service inquires.

Basic Qualification: Able to Speak, Read and Write Chinese Language

NGUYEN THI MAI ANH Vietnamese Customer Service Representative 142.

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

Basic Qualification: Able to speak, read, and write Chinese language

PHAM BINH QUAN Vietnamese Customer Service Representative 143.

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

Basic Qualification: Able to speak, read, and write Chinese language.

Brief Job Description: Managing incoming calls and customer service inquires.

PHAM THAI DUNG Vietnamese Customer Service Representative 144.

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

Basic Qualification: Able to speak, read, and write Chinese language.

Brief Job Description: Managing incoming calls and customer service inquires.

TRAN THI PHUONG Vietnamese Customer Service Representative 145.

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

Brief Job Description: Managing incoming calls and customer service inquires

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

Basic Qualification: Able to speak, read, and write Chinese language

CHAI YAP YEN Chinese Speaking Business Development Associate 148.

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

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

149.

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

150.

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Able to speak, read, and write Chinese language.

128.

Brief Job Description: Managing incoming calls and customer service inquires

BUI THI THUY NHUNG Vietnamese Customer Service Representative 129.

Brief Job Description: Managing incoming calls and customer service inquires

Basic Qualification: Able to speak, read, and write Chinese language

TRAN THI SUONG Vietnamese Customer Service Representative 146.

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

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing incoming calls and customer service inquires

TRAN VAN THAN Vietnamese Customer Service Representative 147.

Brief Job Description: Managing incoming calls and customer service inquires

Brief Job Description: Responsible for managing end to end delivery deployment projects.

TANIYAMA, SATOSHI Customer Care Representative - Japanese

151.

Brief Job Description: An expert providing travel advice and solutions to the members of the IHG Rewards Club in Japan. Provide an industry-leading voice reservation experience by handling contacts via phone and other mediums to match products with guest needs resulting in revenue generation, brand preference and customer loyalty

152.

TJHIA JESSICA SETIAWAN Manager, Corporate Affairs Brief Job Description: B.S or M.A. in Business Ad

153.

Basic Qualification: Able to speak, read, and write Chinese language.

JUNG, HYEONGWOOK Customer Service Representative Brief Job Description: Customer relations service provider.

CHO, MINKYU Korean Technical Support Staff Brief Job Description: Apply diagnostic utilities to aid in troubleshooting

NGUYEN ANH KHOA Admin Officer 155.

Brief Job Description: Handles administrative request and queries from senior managers / officers.

Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s degree. Excellent communication skills. IP data networking experience Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Strong customer service skills. Strong communication skills – listening, written, verbal, etc. Verbal and written fluency in Japanese and English required Salary Range: Php 60,000 - Php 89,999

Basic Qualification: create and execute business growth Salary Range: Php 90,000 - Php 149,999

Basic Qualification: Fluent in mandarin, both oral and written. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Can speak and write fluent Korean language Salary Range: Php 30,000 - Php 59,999

SOMI UNLIMITED SOLUTIONS, INC. 10/f Tower 2 Double Dragon Plaza Bldg., Edsa Corner Macapagal Ave. St. Zone 10, District 1, Barangay 76, Pasay City

Basic Qualification: Able to speak, read, and write Chinese language. Salary Range: Php 30,000 - Php 59,999

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

SKYLUCK CORPORATION #360, Unit 243 Shaw Center Mall, Shaw Blvd. Penthouse Shaw I.t. Center, Addition Hills, City Of Mandaluyong

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

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written

SKY DRAGON GLOBAL TECHNOLOGIES CORP. 2f-5f, Unit 710 Shaw Blvd., Global Link Center, Wack-wack Greenhills, City Of Mandaluyong

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

Basic Qualification: Able to speak, read, and write Chinese language.

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

SHOPEE PHILIPPINES INC 37/f Seven/neo, 5th Avenue E-square Crescent Park West Bgc, Fort Bonifacio, City Of Taguig

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With at least 6 months customer service experience/Good in oral communication and written

SC RESERVATIONS (PHILIPPINES), INC. 27/f, 28/f & 29/f Tower Ii Rcbc Plaza, 6819 Ayala Avenue, Bel-air, City Of Makati

Basic Qualification: Able to Speak, Read and Write Chinese Language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Assist/help customers, give customers information about product and services

VINOD KUMAR Technical Project Manager

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

NOKIA SOLUTIONS AND NETWORKS PHILIPPINES, INC. 18/f The Curve Bldg., 32nd St. Cor. 3rd Ave., Bonifacio Global City, Fort Bonifacio, City Of Taguig

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Assist/help customers, give customer information about product and services

LUO, JIAJUN Chinese Speaking Business Development Associate

NGUYEN Y NHI Admin Officer 156.

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Handles administrative request and queries from senior managers / officers.

BUI MANH CUONG Vietnamese Customer Service Representative 157.

BUI THI LIEN Vietnamese Customer Service Representative

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

NEO INCORPORATED North Tower Centrum Bldg., Aseana Avenue, Entertainment City, Baclaran, City Of Parañaque

154. JACKY LING CHUAN LONG Malaysian Customer Service Representative

Basic Qualification: Able to speak, read, and write Chinese language

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (verbal and written skills). Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills). Salary Range: Php 30,000 - Php 59,999

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

Basic Qualification: Able to speak, read, and write Chinese language Salary Range: Php 30,000 - Php 59,999

BUI VAN KHANH Vietnamese Customer Service Representative 158.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills). Salary Range: Php 30,000 - Php 59,999

BusinessMirror

A10 A6 Thursday, July 14, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION DAM TRUNG DUC Vietnamese Customer Service Representative

159.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN TRUNG DUC Vietnamese Customer Service Representative

175.

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

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

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ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

DJUIKEM KUETE EPOUSE ATAMO, VICKY CLARISSE French Operations CSR II 190.

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

Basic Qualification: Skilled in French Language

Brief Job Description: Provides expedient and accurate customer service to French Speaking clients and customers HEO (SPOUSE OF KIM), INHEE Korean Operations CSR II

DANG HONG SON Vietnamese Customer Service Representative 160.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

DO HUY CUONG Vietnamese Customer Service Representative 161.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

DO NGOC GIAO Vietnamese Customer Service Representative 162.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

NGUYEN TUNG LAM Vietnamese Customer Service Representative 176.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

NGUYEN VAN HOI Vietnamese Customer Service Representative 177.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

NGUYEN XUAN TINH Vietnamese Customer Service Representative 178.

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

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills) Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

191.

163.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

LE MINH HIEU Vietnamese Customer Service Representative 164.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

LE VAN CONG Vietnamese Customer Service Representative 165.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

MAI THI NGOC Vietnamese Customer Service Representative 166.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

NGO VAN TRUNG Vietnamese Customer Service Representative 167.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

PHAM LE VAN DUNG Vietnamese Customer Service Representative 179.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

TO THE TAI Vietnamese Customer Service Representative 180.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

181.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

TRAN HOAI NHI Vietnamese Customer Service Representative 182.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

TRAN BICH LIEN Vietnamese Customer Service Representative

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

192.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

TRAN QUOC HAO Vietnamese Customer Service Representative 183.

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

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

194.

195.

168.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

NGUYEN DINH THUONG Vietnamese Customer Service Representative 169.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

NGUYEN NGOC SON Vietnamese Customer Service Representative 170.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

NGUYEN THANH BINH Vietnamese Customer Service Representative 171.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

TRUONG ANH TUAN AN KHANG Vietnamese Customer Service Representative 184.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

TRUONG VAN CUONG Vietnamese Customer Service Representative 185.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

186.

196.

172.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

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

CHIU, PO-JU Mandarin System And Support Specialist

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills). Salary Range: Php 30,000 - Php 59,999

173.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

174.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills) Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients / customers through mandarin to English translation

YANG, WANGYI Mandarin System And Support Specialist

Salary Range: Php 30,000 - Php 59,999 189.

NGUYEN TRIEU MINH SANG Vietnamese Customer Service Representative

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients / customers through mandarin to English translation

LIU, CHING-CHIEH Mandarin System And Support Specialist 188.

NGUYEN TIEN DAT Vietnamese Customer Service Representative

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

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

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients / customers through mandarin to English translation

Basic Qualification: Thorough, extensive & proficiency in mandarin language and characters. Salary Range: Php 30,000 - Php 59,999

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation

Basic Qualification: Through, Extensive & Fluency in Mandarin Language and Characters Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Attracts potential customers by answering product and service queries; suggesting information about other products and services.

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for; fluent in chines/ mandarin is an advantage. Salary Range: Php 30,000 - Php 59,999

WIKITECH SERVICES INC. 10/f Alphaland Corporate Tower, 7232 Ayala Avenue Ext. Corner Malayag St., Bel-air, City Of Makati WANG, TONG Mandarin Technical Support 198.

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation

TRAN CONG DUY Vietnamese Customer Service Representative

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

WANFANG TECHNOLOGY MANAGEMENT, INC. 6-9/f Double Dragon Plaza, Edsa Cor. Macapagal Ave., Barangay 76, Pasay City

Brief Job Description: Monitoring & maintaining computer systems & networks

Basic Qualification: Can Speak Mandarin Salary Range: Php 30,000 - Php 59,999

XIDIAN ENERGY CONSTRUCTION CORP. Unit 1207 The Trade And Financial Tower, 32nd St. Cor. 7th Avenue, Fort Bonifacio, City Of Taguig

GAN, YIPING Project Manager 199.

TECHMAVE SERVICES INC. 11/f Liberty Plaza Bldg., 102 H.v. Dela Costa St., Bel-air, City Of Makati

187. NGUYEN THI MINH HUYEN Vietnamese Customer Service Representative

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services.

VO TRONG HIEU Vietnamese Customer Service Representative

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

Brief Job Description: Handle service support calls, emails and chats related to inquiry from clients and/or customers through Mandarin to English translation

THOMAS HWANG KEE FOO Customer Relation Representative (mandarin Translation)

197. NGUYEN CONG MINH Vietnamese Customer Service Representative

Brief Job Description: Maintain the operation of electronic device

NGUYEN DUC THOA Customer Relation Representative (mandarin Translation)

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills).

Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Vacancy College Graduate with Experience in Maintain Gaming Devices , Fluent in Mandarin and English Speaking

LIN, YOUMING Chinese It Specialist

LI, QING Customer Relation Representative (mandarin Translation)

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

Brief Job Description: Responsible for achieving the sales & revenue target set forth by the management; govern the company sales strategy in achieving sales volume.

Basic Qualification: Must have lived, studied and worked in Korea for at least ten years and is accustomed to its culture.

VICCI BUSINESS CONSULTANCY CORP. 10/f Liberty Plaza, 102 H.v. Dela Costa St., Bel-air, City Of Makati

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

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

VERTEX DIGITAL ENTERTAINMENT TECHNOLOGIES, INC. 1439 Adriatico Cor. Sta. Monica St., 072, Barangay 669, Ermita, City Of Manila

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

Brief Job Description: Provides expedient and accurate customer service to French Speaking clients and customers

KIM, SO YOUNG Executive Host, International Marketing (BD)

193. DOAN NGOC ANH Vietnamese Customer Service Representative

Basic Qualification: Skilled in French Language

TIGER RESORT, LEISURE AND ENTERTAINMENT, INC. Okada Manila, New Seaside Drive, Entertainment City, Tambo, City Of Parañaque

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

Basic Qualification: Fluent in Vietnamese (Verbal and Written Skills)

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

Brief Job Description: Responsible for managing technical issues on materials, equipment being used

Basic Qualification: Fluent in mandarin and English language both verbal and written Salary Range: Php 30,000 - Php 59,999

YTO EXPRESS (PHILIPPINES) TECHNOLOGY GROUP CORPORATION Unit 2501 The Finance Centre, 26th Street Corner 9th Avenue Bonifacio Global City, Fort Bonifacio, City Of Taguig

LI, JUNJIE Telecommunication Consultant 200.

Brief Job Description: Revolve around the management, supervision, and provision of technical advice on telecommunication system.

Basic Qualification: At least five (5) years of working experience in the related field; fluent in mandarin, Chinese, and English language Salary Range: Php 30,000 - Php 59,999 *Date Generated: Jul 13, 2022

In the ad material of Notice of Filing of Application for Alien Employment Permits published on Jul 12, 2022, the name of LY THIN HIEN under the company NEW ORIENTAL CLUB88 CORPORATION, should have been read as LY THI HIEN and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

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

The World

White House urges renewed caution on Covid variants, pushes boosters By Zeke Miller

The Associated Press

ASHINGTON—The Biden administration is calling on people to exercise renewed caution about Covid-19, emphasizing the importance of getting booster shots for those who are eligible and wearing masks indoors as two new highly transmissible variants are spreading rapidly across the country. The new variants, labeled BA.4 and BA.5, are offshoots of the Omicron strain that has been responsible for nearly all of the virus spread in the US and are even more contagious than their predecessors. White House doctors stressed the importance of getting booster doses, even if you have recently been infected. “Currently, many Americans are undervaccinated, meaning they are not up to date on their Covid-19 vaccines,” said Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention. “Staying up to date on your Covid-19 vaccines provides the best protection against severe outcomes.” Walensky said the US has seen a doubling in the number of hospitalizations due to Covid-19 since April, reflecting the spread of the new subvariants, though deaths remain steady around 300 per day. Dr. Anthony Fauci, the nation’s top infectious disease expert, said while the new variants are concerning, with boosters, indoor masking and treatments the country has the tools to keep them from being disruptive. “We should not let it disrupt our lives,” he said, “but we cannot deny that it is a reality that we need to deal with.” He added that even if someone recently had Covid-19, they should get a booster. “Immunity wanes, so it is critical to stay up to date with Covid-19 vaccines,” he said. All Americans age 5 and over should

get a booster five months after their initial primary series, according to the CDC, and those age 50 and over—or those who are immunocompromised—should get a second booster four months after their first. According to CDC, tens of millions of eligible Americans haven’t received their first booster, and of those over 50 who got their first booster, only 28 percent have received their second. “If you’re over 50 and you haven’t gotten the shot this year, you should go get a shot,” said White House Covid-19 coordinator Dr. Ashish Jha. “It’s going to save your life.” Jha and Fauci said the US is regularly discussing expanding eligibility for a second booster shot to all adults, but that no decision has been made yet. “It’s a regulatory decision on the part of the FDA,” Fauci said. Jha said people who are eligible for a booster but haven’t received one shouldn’t wait for forthcoming vaccines targeted at the omicron strain in addition to the original form of the coronavirus. The US has ordered 105 million of those updated shots, which studies show provide better protection against omicron variants, but they won’t be available until the fall. “Let me be clear, if you get vaccinated today, you’re not going to be ineligible to get the variants specific vaccine, as we get into the later part of fall and winter,” Jha said. “So, this is not a tradeoff, we’ve got plenty. It’s a great way to protect yourself.” Added Fauci, “The threat to you is now.” Walensky noted that CDC data shows that about a third of Americans are living in areas the agency classifies as experiencing a high level of Covid spread, where the agency recommends people wear masks in public indoor spaces. Another 41 percent live in the CDC’s “medium” level, where it recommends that people consider their own individual risk and consider masking.

Japanese say final goodbye to assassinated former PM By Mari Yamaguchi The Associated Press

OKYO—Japanese bid their final goodbye to former Prime Minister Shinzo Abe on Tuesday as his funeral was held at a temple days after his assassination shocked the nation. Abe, the country’s longest-serving prime minister, remained influential even after stepping down two years ago for health reasons. He was gunned down Friday during a campaign speech in the western city of Nara. Hundreds of people, some in formal dark suits, filled sidewalks outside Zojoji temple in downtown Tokyo to bid farewell to Abe, whose nationalistic views drove the governing party’s conservative policies. Mourners took photos and some called out “Abe san!” as a motorcade with the hearse carrying his body accompanied by his widow, Akie Abe, slowly drove by the packed crowd. “I believe there were many things he left unfinished as a politician,” public broadcaster NHK quoted Akie Abe as saying. “But he planted many seeds and I’m sure they will sprout.” Abe’s long-time ally and mentor, Finance Minister Taro Aso, described him as “the most talented politician in postwar Japan who raised Japan’s international profile.” About 1,000 people, including Prime Minister Fumio Kishida, governing party leaders and foreign officials, attended the funeral at the temple. Taiwanese Vice President Lai Chingte also attended in a private capacity, Taiwan’s Central News Agency reported, prompting a formal protest from China. Beijing considers Taiwan a breakaway province and objects to any expression of its independent political identity. The hearse traveled through Tokyo’s main political district, Nagata-cho, where Abe spent more than three decades after being first elected to parliament in 1991. It then drove slowly by the governing party headquarters, where senior lawmakers in dark suits stood outside and prayed, before heading to the prime minister’s office, where Abe served a total of nearly a decade. Kishida and Cabinet members pressed their hands before their chests as they prayed and bowed toward the hearse heading to a crematorium. On Sunday, two days after Abe’s killing, his Liberal Democratic Party and its coalition partner won a landslide victory in elections for the upper house, the less powerful of parliament’s two chambers. That could allow Kishida to govern uninterrupted until a scheduled election

in 2025. But Abe’s death also opens up a period of uncertainly for his party. Experts say a power struggle within Abe’s party faction is certain and could affect Kishida’s grip on power. Kishida has stressed the importance of party unity after Abe’s death. Abe’s assassination has shaken Japan, one of the world’s safest nations with some of the strictest gun laws. The suspect, Tetsyua Yamagami, was arrested on the spot Friday and is being held at a local prosecutors’ office for further investigation. They can detain him for up to three weeks while deciding whether to formally press charges. Police said Yamagami cited a rumored link between Abe and an organization the suspect hated as the motive for the killing. Media reports said the organization was the Unification Church and that Yamagami disliked it because donations made by his mother to the group had bankrupted his family. The head of the Japanese branch of the South Korean-based church, known for its anti-communist stance and mass weddings, confirmed on Monday that the mother was a member. He said Abe was not, but may have spoken at groups affiliated with the church. Police this week inspected a building related to the church in Nara after the suspect told investigators that he had test-fired a homemade gun there the day before the assassination. They found several holes in the building believed to be bullet holes, NHK and other Japanese media reported. On Tuesday, National Police Agency chief Itaru Nakamura said police failed to fulfill their responsibility to protect Abe. “I feel deep regret and shame,” he said. He told reporters that the agency will set up a taskforce to review guarding procedures. Abe, the son of an earlier prime minister, became Japan’s youngest leader in 2006 at age 52. He left after a year in office due to health reasons but returned to power in 2012. He vowed to revitalize the nation and lift its economy out of its deflationary doldrums with his “Abenomics” formula, which combines fiscal stimulus, monetary easing and structural reforms. His long-cherished goals, shared by other ultraconservatives, were to revise Japan’s pacifist constitution drafted by the United States after World War II and transform Japan’s Self Defense Force into a full-fledged military. Abe, who was 67, left office in 2020, citing a recurrence of the ulcerative colitis he had since he was a teenager.

BusinessMirror

Thursday, July 14, 2022 A11

Ukrainian military destroys Russian ammunition depot By Maria Grazia Murru

The Associated Press

YIV, Ukraine—The Ukrainian military on Tuesday reported destroying a Russian ammunition depot in southern Ukraine, resulting in a massive explosion captured on social media, while rescuers said the death toll from a weekend Russian strike in the country’s east grew to 45. An overnight rocket strike targeted the depot in Russian-held Nova Kakhovka, the Ukrainian military’s southern command said. Nova Kakhovka is about 55 kilometers (35 miles) east of the Black Sea port city of Kherson, which is also occupied by Russian forces. The precision of the strike suggested Ukrainian forces used USsupplied multiple-launch High Mobility Artillery Rocket Systems, or HIMARS. Ukraine indicated in recent days that it might launch a counteroffensive to reclaim territory in the south as Russia bombards the eastern Donbas region. Russia’s Tass news agency offered a different account of the blast in Nova Kakhovka, saying that a mineral fertilizer storage facility exploded and that a market, hospital and houses were damaged. Some of the ingredients in fertilizer can be used for ammunition. A satellite photo taken Tuesday and analyzed by The Associated Press showed significant damage. A huge crater gaped precisely where a large warehouse-like structure once stood. Ukraine now has eight of the HIMAR systems, a truck-mounted missile launcher with high accuracy, and Washington has promised to send four more.

Explosions were reported late Tuesday in Luhansk, a city in the Donbas that has been under the control of Russian-backed separatists since 2014, with videos posted on social media. A spokesman for the separatist forces, Andrei Marochko, said the Ukrainian army had dealt a “massive blow” to the air defense system in Luhansk, the Russian news agency Interfax reported. He said there was no word yet on any casualties. There was no immediate information from the Ukrainian government or military. “The occupiers have already felt what modern artillery is like, and their rear will not be safe anywhere on our land that they have occupied,” President Volodymyr Zelenskyy said in his nightly video address. “They have felt that the operations of our intelligence officers for defending their homeland are of an order of magnitude greater than any of their special operations.” Elsewhere in Ukraine, Russian shelling over the past 24 hours killed at least 16 civilians and wounded 48 more, Ukraine’s presidential office said in its Tuesday morning update. Cities and towns in five southeast regions came under Russian fire, the office said. Nine civilians were killed and two more wounded in Donetsk province, which makes up half of the Donbas.

Sri Lankan president flees country amid economic and political crises By Krishan Francis The Associated Press

OLOMBO, Sri Lanka—The president of Sri Lanka fled the country early Wednesday, days after protesters stormed his home and office and the official residence of his prime minister amid a three-month economic crisis that triggered severe shortages of food and fuel. President Gotabaya Rajapaksa, his wife and two bodyguards left aboard a Sri Lankan Air Force plane bound for the city of Male, the capital of the Maldives, according to an immigration official who spoke on the condition of anonymity because of the sensitivity of the situation. Rajapaksa had agreed to step down under pressure. Prime Minister Ranil Wickremesinghe said he would leave once a new government was in place. Lawmakers agreed to elect a new president next week but struggled Tuesday to decide on the makeup of a new government to lift the bankrupt country out of economic and political collapse. The promised resignations brought no end to the crisis, and protesters have vowed to occupy the official buildings until the top leaders are gone. For days, people have flocked to the presidential palace almost as if it were a tourist attraction—swimming in the pool, marveling at the paintings and lounging on the beds piled high with pillows. At one point, they also burned the prime minister’s private home. “I am not happy he has fled. He should be in jail,” said Malik D’ Souza a 25-yearold protester occupying the president’s office. He has taken part in for protests for the past 97 days.

Rajapaksa “ruined this country and stole our money. We will not stop until we have a new president and prime minister,” D’ Souza said. He said he voted for Rajapaksa in 2019 believing his military background would keep the country safe after Islamic State-inspired bomb attacks earlier that year killed more than 260 people. While lawmakers agreed late Monday to elect a new president from their ranks on July 20, they have not yet decided who will take over as prime minister and fill the Cabinet. The new president will serve the remainder of Rajapaksa’s term, which ends in 2024—and could potentially appoint a new prime minister, who would then have to be approved by Parliament. The prime minister is to serve as president until a replacement is chosen—an arrangement that is sure to further anger protesters who want Wickremesinghe out immediately. Sri Lankan presidents are protected from arrest while in power, and it is likely Rajapaksa planned his escape while he still had constitutional immunity. A corruption lawsuit against him in his former role as a defense official was withdrawn when he was elected president in 2019. Corruption and mismanagement have left the island nation laden with debt and unable to pay for imports of basic necessities. The shortages have sown despair among the country’s 22 million people. Sri Lankans are skipping meals and lining up for hours to try to buy scarce fuel. The Associated Press Business writers Krutika Pathi in Colombo and Joe McDonald in Beijing contributed to this report.

Russian rocket attacks targeted the cities of Sloviansk and Toretsk, where a kindergarten was hit, the presidential office said. The British military said Tuesday that Russia was continuing to make “small, incremental gains” in Donetsk, where heavy fighting led the province’s governor last week to urge its 350,000 remaining residents to move to safer places in western Ukraine. The death toll from a Russian rocket attack that struck a Donetsk apartment building Saturday rose to 45, the emergency services agency said late Tuesday. It said workers found more bodies and also rescued nine people as they dug through the rubble of the five-story building in Chasiv Yar throughout the day. Yet many in the Donbas, a fertile industrial region in eastern Ukraine consisting of the Donetsk and Luhansk provinces, refuse—or are unable—to flee, despite scores of civilians being killed and wounded each week. In northeaster Kharkiv, Ukraine’s second-largest city, and its surrounding region, Russian strikes hit residential buildings, killing four civilians and wounding nine, Ukrainian officials said. “The Russians continue their tactics of intimidating the peaceful population of the Kharkiv region,” K harkiv Gov. Oleh Sy niehubov wrote Tuesday on Telegram. Russian fire also struck the southern city of Mykolaiv on Tuesday

morning, hitting residential buildings. Twelve people were wounded as the result of the Russian shelling, with some of the rockets hitting two medical facilities, regional governor Vitaliy Kim said on Telegram. Air raid sirens sounded Tuesday in the western city of Lviv—the first daytime sirens there in over a week—and in other areas of Ukraine as Russian forces continued to make advances. In eastern Luhansk, “fighting continues near the villages” on the administrative border with neighboring Donetsk, Luhansk Gov. Serhiy Haidai told The Associated Press on Tuesday. “The Russian army burns down everything in its way. The artillery barrage doesn’t stop and sometimes continues for four to six hours on end,” Haidai said. The British Defense Ministry’s intelligence briefing said Russia had seized the town of Hryhorivka and continued to push toward the Donetsk province cities of Kramatorsk and Sloviansk. “Russian forces are likely maintaining military pressure on Ukrainian forces whilst regrouping and reconstituting for further offensives in the near future,” the intelligence briefing said. However, Russia may be relying more heavily on private military contractors, like the Wagner Group, to avoid a general mobilization, the British ministry said. Western officials have accused Wagner of using mercenaries to fight in Africa and elsewhere.

TheWorld BusinessMirror

A12 Thursday, July 14, 2022

This image provided by NASA on Tuesday, July 12, 2022, shows Stephan’s Quintet, a visual grouping of five galaxies captured by the Webb Telescope’s Near-Infrared Camera (NIRCam) and Mid-Infrared Instrument (MIRI). This mosaic was constructed from almost 1,000 separate image files, according to NASA. NASA, ESA, CSA, and STScI via AP

This image released by NASA on Tuesday, July 12, 2022, shows the bright star at the center of NGC 3132, the Southern Ring Nebula, for the first time in near-infrared light. NASA, ESA, CSA, STScI via AP

www.businessmirror.com.ph

This image provided by NASA on Tuesday, July 12, 2022, shows Stephan’s Quintet, a visual grouping of five galaxies captured by the Webb Telescope’s MidInfrared Instrument (MIRI). NASA, ESA, CSA, and STScI via AP

Baby stars, dancing galaxies: NASA shows new cosmic views By Seth Borenstein

AP Science Writer

REENBELT, Md.—A sparkling landscape of baby stars. A foamy blue and orange view of a dying star. Five galaxies in a cosmic dance. The splendors of the universe glowed in a new batch of images released Tuesday from NASA’s powerful new telescope.

The unveiling from the $10 billion James Webb Space Telescope began Monday at the White House with a sneak peek of the first shot—a jumble of distant galaxies that went deeper into the cosmos than humanity has ever seen. Tuesd ay ’s relea ses showed parts of the universe seen by other telescopes. But Webb ’s sheer power, distant location from Earth and use of the infrared light spectrum showed them in a new light that scientists said was almost as much art as science. “It’s the beauty but also the story,” NASA senior Webb scientist John Mather, a Nobel laureate, said after the reveal. “It’s the story of where did we come from.”

And, he said, the more he looked at the images, the more he became convinced that life exists elsewhere in those thousands of stars and hundreds of galaxies. With Webb, scientist hope to glimpse light from the first stars and galaxies that formed 13.7 billion years ago, just 100 million years from the universe-creating Big Bang. The telescope also will scan the atmospheres of alien worlds for possible signs of life. “Every image is a new discovery and each will give humanity a view of the humanity that we’ve never seen before,’’ NASA Administrator Bill Nelson said Tuesday, rhapsodizing over images showing “the formation of

stars, devouring black holes.” Webb’s use of the infrared light spectrum allows the telescope to see through the cosmic dust and see faraway light from the corners of the universe, scientists said. “We’ve really changed the understanding of our universe,” said European Space Agency director general Josef Aschbacher. The European and Canadian space agencies joined NASA in building the telescope, which was launched in December after years of delays and cost overruns. Webb is considered the successor to the highly successful, but aging Hubble Space Telescope. Some of Hubble’s most stunning images have been shots of the Carina nebula, one of the bright stellar nurseries in the sk y, about 7,6 0 0 l ight-yea rs away. Webb project scientist K laus Pontoppidan decided to focus one of Webb ’s early gazes on that location because he knew it would be the frameable beauty shot. The result was an image of a colorful landscape of bubbles and cavities where stars were being born. “This is art,” Pontoppidan said. “I really wanted to have that landscape. It has that contrast. We have the blue. We have golden. There’s dark. There’s bright. There’s just a sharp image.” On tap for release Thursday:

A close-up of Jupiter that shows one of its faint rings and a few of its moons, he said. Also among the new shots: n Southern Ring nebula, which is sometimes called “eight-burst.” Images show a dying star with a foamy edge of escaping gas. It’s about 2,500 light-years away. A light-year is 5.8 trillion miles. “This is the end for this star, but the beginning for other stars,” Pontoppidan said. As it dies, it throws off parts that seed the galaxy with elements used for new stars, he said. n Stephan’s Quintet, five galaxies in a cosmic dance that was first seen 225 years ago in the constellation Pegasus. It includes a black hole that scientists said showed material “swallowed by this sort of cosmic monster.” Webb “has just given us a new, unprecedented 290 million-year-old view of what this Quintet is up to,” Cornell University astronomer Lisa Kaltenegger, who wasn’t part of the Webb team, said in an email. n A giant planet called WASP96b. It’s about the size of Saturn and is 1,150 light-years away. A gas planet, it’s not a candidate for life elsewhere but a key target for astronomers. Instead of an image, the telescope used its infrared detectors to look at the chemical composition of the

planet’s atmosphere. It showed water vapor in the super-hot planet’s atmosphere and even found the chemical spectrum of neon, showing clouds where astronomers thought there were none. T he i m ages were re lea sed one -by- one at a n event at NASA’s Goddard Space Center that included cheerleaders with pompoms the color of the telescope’s golden mirrors. “It moves you. This is so so beautiful,” Thomas Zurbuchen, chief of NASA’s science missions, said after

the event. “Nature is beautiful. To me this is about beauty.” The world’s biggest and most powerful space telescope rocketed away last December from French Guiana in South America. It reached its lookout point 1 million miles (1.6 million kilometers) from Earth in January. Then the lengthy process began to align the mirrors, get the infrared detectors cold enough to operate and calibrate the science instruments, all protected by a sunshade the size of a tennis court. AP

Now there are 8: UK leader field reduced as nominations close By Jill Lawless

The Associated Press

ONDON—Nominations in the race to replace British Prime Minister Boris Johnson closed on Tuesday, with eight Conservative lawmakers securing enough support from their colleagues to make the first ballot. Former Health Secretary Sajid Javid, whose resignation last week helped bring Johnson down, was a surprise casualty, failing to make the cut. Candidates needed backing from at least 20 fellow legislators to be on the ballot for run-off votes, which will start Wednesday. The successful contenders include former Treasury chief Rishi Sunak, Foreign Secretary Liz Truss, Trade Minister Penny Mordaunt and backbench lawmaker Tom Tugendhat. Also on the ballot are Treasury chief Nadhim Zahawi, ex-Equalities Minister Kemi Badenoch, former Foreign Secretary Jeremy Hunt and Attorney General Suella Braverman. Javid quit the race on Tuesday after failing to get the 20 supporters. He said serving in government had been “a true privilege.” Two other candidates, Transport Secretary Grant Shapps and lawmaker Rehman Chisti, also pulled out after struggling to gather support. The candidates are jostling to replace Johnson, who quit as Conservative leader last week amid a party revolt triggered by months of ethics scandals. He will remain in office as a caretaker prime minister until his replacement as party chief is chosen. The winner of that contest will automatically become prime minister, without the need for a national election. The new leader will be chosen in a twostage election, in which the 358 Conservative lawmakers reduce the race to two candidates through a series of elimination votes. The final pair will be put to a ballot of party members across the country. The first round of voting was scheduled for Wednesday, with candidates who fail to get at least 30 votes eliminated. Further rounds will take place Thursday and, if needed, next week. The party aims to complete the parliamentary stage of the election before lawmakers break for the summer on July 21. The two finalists would spend the rest of the summer campaigning around the country. The new leader is due to be announced when the House of Commons returns on September 5. Many Conservatives are wary of leaving Johnson in office for too long, concerned a lame-duck leader is the last thing Britain

needs with war raging in Ukraine, food and energy price increases driving inflation to levels not seen in decades, and growing labor unrest. Some also worry Johnson—brought down by scandals over money, rule-breaking and his handling of sexual misconduct allegations against lawmakers—could do mischief during his final months in office. The opposition Labour Party called for the House of Commons to hold a noconfidence vote in Johnson this week, but the government refused to allow it, saying it was not “a valuable use of parliamentary time” because a contest to replace the prime minister already was underway. Labour accused the government of “running scared.” In the wide-open leadership contest, contenders are striving to set themselves apart from the perceived front-runner, former Treasury secretary Sunak, who already has the backing of more than three-dozen lawmakers. Many have repudiated the tax increases Sunak introduced to shore up UK finances battered by the coronavirus pandemic and Brexit—a 1.25 percent income-tax rise for millions of workers, and an increase in corporation tax next year from 19 percent to 25 percent. Most candidates say they will scrap one or both. Brexit Opportunities Minister Jacob Rees-Mogg and Culture Secretary Nadine Dorries, both committed Brexit supporters and Johnson allies, threw their support behind Truss as a “stop Sunak” candidate for the party’s right wing. “Liz was always opposed to Rishi’s higher taxes.” Rees-Mogg said. “She’s a proper euroskeptic, she’ll deliver for the voters and she believes in low taxation.” Sunak, whose resignation a week ago helped topple Johnson, has cast himself as the candidate of fiscal probity. Launching his campaign for Tory leader Tuesday, Sunak said the country needed “honesty and responsibility, not fairytales” to get through tough economic times. “It is not credible to promise lots more spending and low taxes,” he said. Sunak also called for an end to the personal attacks already flying around in the contest—many of them aimed at him. He said he would not “demonize” Johnson, whom he called a “remarkable” politician. “I will not engage in the negativity you have seen and read in the media. If others wish to do that, then let them,” he said. “That is not who we are. We can be better than that.”

Agriculture/Commodities BusinessMirror

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Editor: Jennifer A. Ng • Thursday, July 14, 2022 A13

Rice imports this year seen breaching 3MMT

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE Philippines’s rice imports this year may expand by nearly 5 percent year-on-year to a record level of 3.1 million metric tons (MMT), the United States Department of Agriculture (USDA) said. In its monthly report, the USDA said it revised upward its rice import forecast for the Philippines due to “large monthly imports from Vietnam,” which is the country’s top supplier of the staple. The USDA hiked its rice import forecast for the Philippines in 2022 by 100,000 MT from an earlier estimate of 3 MMT. The latest forecast would mean that the country’s rice imports would breach the 3-MMT mark for the first time. It also projected that the country’s total rice imports next year would remain at 3.1 MMT driven by “continued strong demand for rice from Vietnam.” This would make the Philippines the second-biggest rice importer in the world for 4 consecutive years. The countr y’s rice imports last year reached a record high

of 2.95 MMT. “Imports are forecast up due to higher demand from China, Vietnam, and the Philippines,” the USDA said in its monthly global grain situation report published on Wednesday (Philippine time). The Philippines’s rice imports in the first half expanded by nearly 30 percent year-on-year to 1.887 MMT, driven by the country’s demand for cheaper supply. The latest data from the Bureau of Plant Industry (BPI) showed that rice imports in January to June rose by 433,000 MT from 1.454 MMT a year ago. Rice industry sources said the landed cost of imports is still cheaper than the locally-produced staple, making it more profitable for entities to import rice. “It’s always about the price. If the

THIS BusinessMirror file photo shows different varieties of rice being sold at a local market in Manila.

landed cost of imported rice plus tariff is cheaper compared to local rice, they will want to import more,” an industry source, who requested anonymity, said. BPI data showed that Vietnam remained the country’s top rice supplier, accounting for 1.517 MMT, followed by Myanmar with

SeedWorks PHL inks new pact with agri cooperative H

YBRID rice producer SeedWorks Philippines (SeedWorks) on Wednesday extended a memorandum of understanding (MOU) with a cooperative that directly purchases, mills and sells the rice produced by its partner rice farmers. SeedWorks said it inked a new MOU with the Caut Farmers Field School Marketing Cooperative (FFSMC) that has been purchasing, milling, and marketing US 88 hybrid rice produced by partner rice farmers for a year now. Under the MOU, SeedWorks will help the rice farmers producing US 88 varieties link with traders and millers who are keen on buying the rice variety at prices that are “higher” than the prevailing farm-gate prices. The company will also support the partner rice trade and millers by helping them in mar-

keting US 88 rice. SeedWorks said that the partnership reduces the layers of middlemen in a rice value chain, resulting in higher income for farmers and more affordable products for consumers. “SeedWorks keeps its commitment to further empower local rice farmers in the countryside by helping link them with millers who can pay higher prices for the premium-quality rice harvests,” SeedWorks Philippines President Carlos Saplala said. “We have successfully launched this program in 2021 and as promised, we are bringing this promising scheme to more farmers across the country.” As part of its marketing support, SeedWorks said it provides partner millers and traders with a “special” designed rice sacks. “So far, the brand of commercial

rice has been reaping praises from traders and consumers alike,” the company said. “US 88 rice is gaining popularity and demand in the market as it is noted for its long grain and consistently soft quality when cooked, which also does not easily spoil, helping avoid unnecessary food wastage.” The company said its US 88 hybrid rice variety has a yield potential of up to 15 metric tons (MT) per hectare, almost triple the national average yield of 4.08 MT per hectare. “We are happy to continuously spread the good news about US 88 and help our local rice farmers overcome the common issues they face. We welcome Caut-FSS Marketing Cooperative to this program,” Saplala said. “At the same time, we are also inviting more local farmers and traders to join this cause.” Jasper Emmanuel Y. Arcalas

153,969.28 MT. BPI data also showed that r ice i mpor t s f rom Pa k i st a n, which has been benefiting from lower tariff rates, continued to grow, reaching 111,550.675 MT in end-June. (Related story: https://businessmirror.com. ph/2022/05/28/palace-eo-ex-

tends-lower-tariffs-on-porkand-rice-until-december/) Rice imports from Thailand reached 95,173.125 MT, while imports from China and India reached 3,591.5 MT and 5,168.385 MT, respectively. Agriculture officials noted that the country has sufficient rice stocks

during the lean months of July to September. However, agriculture officials cautioned that rice imports may have to breach the 2-MMT mark to ensure that the country would have enough rice. Since the start of implementation of the rice trade liberalization (RTL) law or Republic Act 11203 in early 2019, the country’s annual rice imports have been above 2 MMT, catapulting the Philippines into becoming the second largest buyer of imported rice in the world. T he Philippines’s domestic milled rice output this year could reach a record volume of 12.6 MMT before falling to 12.411 MMT next year. The country’s milled rice production last year reached 12.416 MMT. “Global rice production is forecast lower this month due to lower average yields for Sri Lanka more than offsetting larger crops for the Philippines and Senegal,” the USDA said. “Global consumption is projected up, primarily on increases for China, Benin, and the Philippines.” The Philippines’s total rice consumption this year may expand by almost 6 percent year-on-year to 15.3 MMT and would further grow to 15.5 MMT by next year, according to the USDA.

Authorities urged to intensify biosecurity against ASF in Region 12

HE Department of Agriculture (DA) teamed up with the Bureau of Animal Industry (BAI), National Meat Inspection Service and local government units (LGUs) to strengthen the anti-African swine fever (ASF) campaign by intensifying biosecurity practice in Region 12. After the hog industry in the region faced a significant threat due to the spread of the ASF virus, biosecurity was eyed as the ideal practice to secure the animals’ health and as an essential tool that every hog farmer may employ to restrict the spread of ASF and keep diseases out of their farms. “The region’s excellent level of biosecurity is the reason why hog farmers continue to purchase pigs from other provinces and raise their animals in the region,” Dennis Arpia, DA 12 regional executive

director, said in a statement. Despite assurances from Arpia that the region’s biosecurity measures are in place, he urges the authorities to step up their biosecurity against ASF as this will complement the continuing disease surveillance activities in the region’s border areas. Dr. Flora Bigot, provincial veterinarian of South Cotabato, said despite the lack of veterinarians in the Office of the Provincial Veterinarian (OPVet), there would be no exceptions in the inspection of shipments and animal testing as monitoring and surveillance in the region must be intensified. Bigot said hog carriers are advised to register to the OPVet to have their hog transport pass QR code to easily conduct the monitoring of transport carrier. She also urged backyard farmers to raise their level of

biosecurity due to the region’s logging of 93 backyard farms under ASF “red zones” for South Cotabato. On July 5, the DA-BAI together with the DA turned over 3 mobile disinfection vehicles as an extra precaution and to fortify the region against the spread of ASF. “Because the region is one of the biggest producers of hogs, gagamitin natin ang mga disinfection trucks to make sure na lahat ng mga lumalabas na shipments ay ma-disinfect at mainspect,” said Bigot. The trucks were given to the LGUs of South Cotabato, North Cotabato, and General Santos City. This initiative is part of DA’s efforts to curb ASF cases, revive the local hog business, and restrict the spread of the disease despite the difficulties associated with implementing biosecurity in the region.

Heatwave in southern China strains power grid, threatens crops

BLIS T ER I NG heat wave sweeping across southern China is threatening crops and adding strain to the local power grids, as the Asian nation becomes the latest region around the globe battling searing temperatures. Shanghai, China’s financial hub, on Wednesday issued a red alert, the highest level heat warning, as the temperature was ex-

pected to reach 40 degrees Celsius (104 degrees Fahrenheit). Cities in Sichuan and economic powerhouses Jiangsu and Zhejiang also issued red alerts after temperatures in parts of the region hit records. The heatwave is expected to last through the weekend, with temperatures reaching as high as 42 degrees Celsius, according

to the national meteorological center. Heatwaves are blasting regions from Europe to the US at the start of summer in the northern hemisphere, adding pressure to already-high energy prices. Texas power use is breaking records, while Europe continues to bake after the third-warmest June on record.

Hot weather in China is coming at a crucial time for the nation’s early rice to fill and harvest. The heat may hurt rice yields and is negative for cotton growth as well, the country’s meteorological department said. The heatwave will also likely boost power consumption further this summer as residents and businesses turn on air conditioning to

keep cool. Electricity use has already hit a record across several Chinese provinces, including Shandong and Henan in the north and Zhejiang in the east. Several provinces in China are preparing “orderly consumption” plans for times when power supplies are tight, BJX.com reported. The plans curb use at inefficient or high-consumption factories in order

Groups craft human capital devt strategy Lastly, the group proposes to empower farmers with climate-smart resources, technology, and services towards improved yield, efficiency, and resilience. As for Education, Philippine Business for Education (PBEd)’s Workforce Development Director Justin Raagas said among the strategies that PBEd proposes is to bring all children to quality pre-Kindergarten to Grade 3 education and developmental programs. Under this proposed strategy, Raagas highlighted the need to provide education for learners at

a very young age. She added that according to the Philippine Statistics Authority (PSA), more than 75 percent of 3-4 year-olds are not attending pre-Kinder classes and 17 percent of 5 year-olds are also not attending school. Raagas said this happens despite the existence of early childhood laws and the universal Kindergarten Act. Another proposal is to improve the quality of instruction and teachers with the target that all learners meet basic skills based on international standards.

Raagas said teachers play a crucial role in determining learning outcomes. Therefore, she said, “a bulk of resources must really be focused on getting and developing effective teachers.” She cited some problems experienced by teachers such as weak pedagogy. Raagas added that teachers are being sidelined by a multitude of other activities, which results in lack of focus on teaching. Currently, Raagas said, “there are 1.2 million teachers in both the public and private school system.” With this, she said, “we

must take a systemic approach in developing a pool of highly effective teachers.” The third proposed strategy is to use the lens of lifelong learning in work force development. Raagas pointed out that “learning should not be confined to the legislated years of education.” However, she noted a dramatic drop in education by adult Filipinos. With the changing economic landscape, the education reform agenda must not only address current problems and current needs but should be “future-proof,” Raagas stressed.

to make sure enough supply is available for residents and more important industries. A prolonged surge in power demand could threaten to deplete stockpiles of coal, the main fuel used for electricity generation. Overseas prices of the fuel are near a record high, and higher Chinese demand could exacerbate a global supply crunch. Bloomberg News

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PBEd’s fourth proposal is to fully leverage private education to better complement delivery of services. Lastly, there is a need to strengthen autonomy, coupled with accountability of school leaders and local governments. “Our fourth and fifth strategies respond to effective and efficient education service delivery. These pivots are necessary and crucial and are immediate responses that can be done today,” said Raagas. The private sector is largely underutilized in Education delivery, she

said. Hence, the government may tap on this. Meanwhile, when asked how face-to-face classes will help the economy recover, business leader Manuel V. Pangilinan said that “everything gets reenergized.” “When the kids go to school, they have to spend for their baon, transportation; everything just gets re-energized as a consequence of people’s mobility and the impact of the quality of education on children will be improved as a consequence of these face-to-face classes,” said Pangilinan.

A14 Thursday, July 14, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

The country needs a Health secretary

hen Malacañang announced on Friday that President Ferdinand R. Marcos Jr. tested positive for Covid-19 in an antigen test, the people were reminded that the virus is still very much around and everybody, including vaccinated and boosted individuals, is still at risk of contracting the disease. Despite rising Covid-19 infections, the Department of Health on Tuesday said the whole country remains at low-risk case classification. Health Undersecretary Maria Rosario Vergeire also said that the number of severe and critical admissions at the national level remain at less than 1,000 since mid-March 2022 and “currently on a plateau.” She said health-care utilization remains low in most areas and severe and critical cases are at less than 1.5 percent among total hospital admissions nationally (Read, “PHL remains at Covid low-risk case classification–DOH,” in the BusinessMirror, July 12, 2022). From the Associated Press: “The quickly changing coronavirus has spawned yet another super contagious Omicron mutant that’s worrying scientists as it gains ground in India and pops up in numerous other countries, including the United States. Scientists say the variant—called BA.2.75—may be able to spread rapidly and get around immunity from vaccines and previous infection. It’s unclear whether it could cause more serious disease than other Omicron variants, including the globally prominent BA.5.” “The latest mutant has been spotted in several states in India, and appears to be spreading faster than other variants there,” said Lipi Thukral, a scientist at the Council of Scientific and Industrial Research-Institute of Genomics and Integrative Biology in New Delhi. It’s also been detected in about 10 other countries, including Australia, Germany, the United Kingdom and Canada. Three cases were recently identified in the US. Asked by the BusinessMirror if the country will again implement strict border control following the emergence of a new Omicron subvariant, Vergeire said the country’s borders “cannot remain closed forever.” She added: “The only thing that we are looking into and we should make sure of is that we remain at low-risk level. The severe and critical cases should be at minimum level and few will be hospitalized.” President Marcos has pledged not to impose wide-scale lockdowns that hurt the economy. But as the virus continues to evolve and become more contagious, we have to accept the fact that we are now living with a higher level of risk. We are all tired of the pandemic and we would like to return to our pre-pandemic lives. But Covid remains a threat, and that’s the reality we need to deal with. We need to stay safe and not let our guard down. In a press briefing last week, the President announced the plans of Vice President and Education Secretary Sara Duterte to implement full face-to-face classes by November. He said they will be encouraging booster vaccination, especially among the youth, to combat the increasing threat of less harmful, yet more contagious Omicron variants. On Tuesday, the Department of Health gave the green light on the booster shots for ages 12 to 17 years old. Mr. Marcos plans to ramp up vaccinations and fix “shortcomings” in the country’s pandemic response. Although the President has vast powers, he must not do the “fixing” by himself. We are still in the middle of a global health crisis, and there’s a pressing need for him to name his alter ego to take care of the country’s health problems. We need a Health secretary who can focus on keeping people safe not only from Covid but also from other medical ailments. Since 2005

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John Mangun

OUTSIDE THE BOX

here is a Chinese idiom, in Pinyin kūxiàobùdé, that describes the confusing feeling of not knowing whether to laugh or cry, to be frustrated and amused at the same time. In fact, that phrase shows up in many languages, but unlike in Mandarin, it usually means the hypocrisy of “wanting to laugh but feeling obligated to cry” at another’s misfortune. The 14th century English poet Geoffrey Chaucer described the hypocrisy of one of his characters with “She is false and ever laughing with one eye, and with the other weeping.” In the Chinese sense, I do not know whether to laugh or cry when I hear from local pundits, experts, and Philippine social media, the almost complete lack of familiarity with local reality and what is happening beyond Philippine shores. Government, like it or not, is an intellectual as well as practical reflection of both ordinary citizens and their “thought leaders.” “We should buy cheaper oil from Russia.” In 2021 we imported $11 billion worth of crude oil while the Philippines imported $15.48 billion of refined products like diesel (43.1 percent) and gasoline (25 percent).

“Buy the Russian oil and build a refinery to make more diesel and gasoline.” It takes about five years and $7 billion (P400 billion) to build a refinery. “Buy electric cars and buses.” An electric car costs about P3 million and an electric bus about P15 million and we do not have the charging infrastructure yet. “It’s the government’s fault.” Which government? When the Titanic sank, 39 percent of First-Class passengers perished with 76 percent of Third-Class passengers dying. Maybe that is the beginning of “All in the same boat.” Nothing could be farther from the truth. I am not even going to go into inflation comparisons between the Philippines (6.1 percent) and the rest of the world. It is sufficient to

Why are Western political leaders so unwilling to accept responsibility? Andrei Martyanov, born in the USSR and living in America since the mid-1990s, is an author and expert on the Russian military. He writes: “Western ‘elites’ are simply incapable to hear ‘bad news’ on anything because most of them are petulant children with the maturity level of highschool teenagers.” say, out of 170 countries reporting inflation rates—minus those with over 50 percent inflation, the global average is 9.3 percent (7 percent for the G-20). But real-world anecdotes are important. First-world Germany (7.6 percent inflation) is not the place you want to emigrate to right now. Its cities are planning to use sports arenas and exhibition halls as “warm up spaces” to help freezing citizens who are unable to afford energy costs. Other cities are planning to deactivate traffic lights at night. In Lahn-Dill, near Frankfurt, they are switching off the hot water in its 86 schools and 60 gyms. Vonovia is Germany’s largest residential landlord owning around 490,000 properties and will impose energy rationing to tenants. It has announced that the company will “cut the heating output between 11

p.m. and 6 a.m. to 17 degrees Celsius” hoping to save up to 8 percent of its heating costs. How bad is the real inflation? The Vonovia Chief Executive Office said he expected energy prices to cost tenants the equivalent of up to two months’ rent. Remember, Germany already has the second highest electricity costs in the world. Following the western hypocritic or sarcastic thought on “laugh or cry,” I shed tears of laughter/crying for western leaders. An example of the leadership: “The vice-president of the European Commission suggested people should ‘support Ukraine’ by taking fewer showers, not driving cars, and airing their clothes instead of washing them.” Why are Western political leaders so unwilling to accept responsibility? Andrei Martyanov, born in the USSR and living in America since the mid-1990s, is an author and expert on the Russian military. He writes: “Western ‘elites’ are simply incapable to hear ‘bad news’ on anything because most of them are petulant children with the maturity level of high-school teenagers.” When a government is run like a student council, accomplishments are few and failures are covered up. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

‘Don’t fall ill’: Sri Lanka doctors warn of drug shortage

By Krishan Francis | The Associated Press

OLOMBO, Sri Lanka—Don’t fall ill or get into accidents: That’s the advice doctors in Sri Lanka are giving patients as the country’s economic crisis leaves its health-care system short of drugs and other vital supplies.

T. Anthony C. Cabangon

Senior Editors

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Laugh or cry

The South Asian island nation lacks the money to pay for basic imports like fuel and food, and medicine is also running out. Such troubles threaten to undo its huge gains in public health in recent decades. Some doctors have turned to social media to try to get donations of supplies or the funds to buy them. They’re also urging Sri Lankans living overseas to help. So far there’s no sign of an end to the crisis that has thrust the country into an economic and political meltdown. That means 15-year-old Hasini Wasana might not get the medicine she needs to protect her transplanted kidney. Diagnosed with a kidney ailment as a toddler, she got a transplant nine months ago and needs to take an immune suppressant every day for the rest of her life to prevent her body from rejecting the organ. Hasini’s family is depending on donors to help now that her hospital can no longer provide the Tacrolimus tablets that she received for free until a few weeks ago. She takes eight and a half tablets a day and the cost adds up to more than $200 a month, just

for that one medicine. “We are being told (by the hospital) that they don’t know when they will have this tablet again,” said Ishara Thilini, Hasini’s older sister. The family sold their home and Hasini’s father got a job in the Middle East to help pay for her medical treatment, but his income is barely enough. Cancer hospitals, too, are struggling to maintain stocks of essential drugs to ensure uninterrupted treatment. “Don’t get ill, don’t get injured, don’t do anything that will make you go to a hospital for treatment unnecessarily,” said Samath Dharmaratne, president of the Sri Lanka Medical Association. “That is how I can explain it; this is a serious situation.” Dr. Charles Nugawela, who heads a kidney hospital in Sri Lanka’s capital, Colombo, said his hospital has kept running thanks to the largesse of donors but has resorted to providing medicine only to patients whose illness has advanced to the stage where they need dialysis. Nugawela worries the hospital

might have to put off all but the most urgent surgeries because of a shortage of suture materials. The Sri Lanka College of Oncologists gave a list of drugs to the Health Ministry that “are very essential, that all hospitals have to have all the time so that we could provide cancer treatment without any interruption,” said Dr. Nadarajah Jeyakumaran, who heads the college. But the government is having a hard time providing them, he said. And it’s not just medicine. Patients having chemotherapy are susceptible to infections and can’t eat normally but hospitals don’t have enough food supplements, Jeyakumaran said. The situation threatens to bring on a health emergency at a time when the country is still recovering from the coronavirus pandemic. Hospitals lack drugs for rabies, epilepsy and sexually transmitted diseases. Labs don’t have enough of the reagents needed to run full blood count tests. Items like suture material, cotton socks for surgery, supplies for blood transfusions, even cotton wool and gauze are running short. “If you are handling animals, be careful. If you get bitten and you need surgery and you get rabies, we don’t have adequate antiserum and rabies vaccines,” said Dr. Surantha Perera, vice president of the Sri Lanka Medical Association.

The association is trying to help patients by seeking donations through personal contacts and from Sri Lankans living overseas, Perera said. Dhamaratne, the association president, said if things don’t improve doctors may be forced to choose which patients get treatment. It’s a reversal of decades of improvements thanks to a universal health care system that has raised many measures of health to the levels of much wealthier nations. Sri Lanka’s infant mortality rate, at just under 7 per 1,000 live births, is not far from the US, with 5 per 1,000 live births, or Japan’s 1.6. Its maternal mortality rate of near 30 per 100,000 compares well with most developing countries. The US rate is 19, while Japan’s is 5. Life expectancy had risen to nearly 75 years by 2016 from under 72 years in 2000. The country has managed to eliminate malaria, polio, leprosy, the tropical parasitic disease filariasis commonly known as elephantiasis, and most other vaccine-preventable diseases. Prime Minister Ranil Wickremesinghe has appealed for help, and the US, Japan, India and other countries have pledged funds and other humanitarian support. That aid and more from the World Bank, See “Drug,” A15

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Twitter sues to force Musk to complete his $44-billion acquisition

By Matt O’brien | The Associated Press

witter sued Tesla CEO Elon Musk on Tuesday, trying to force him to complete his $44 billion takeover of the socialmedia company by accusing him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price. Back in April, Musk pledged to pay $54.20 a share for Twitter, which agreed to those terms after reversing its initial opposition to the deal. But the two sides have been bracing for a legal fight since the billionaire said Friday that he was backing away from his agreement to buy the company. Twitter’s lawsuit opens with a sharply-worded accusation: “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.” “Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he—unlike every other party subject to Delaware contract law—is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit stated. Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there. As part of the April deal, Musk and Twitter had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal falling through. The company could have pushed Musk to pay the hefty fee but is going farther than that, trying to force him to complete the full $44 billion purchase approved by the company’s board. “Oh the irony lol,” Musk tweeted after Twitter filed the lawsuit, without explanation. The arguments and evidence laid out by Twitter are compelling and likely to get a receptive ear in the Delaware court, which doesn’t look kindly on sophisticated buyers with highly-paid legal advisers backing off of deals, said Brian Quinn, a law professor at Boston College. “They make a very strong argument that this is just buyer’s remorse,” Quinn said. “You have to eat your mistakes in the Delaware Chancery Court. That’s going to work very favorably for Twitter.” Musk alleged Friday that Twitter has failed to provide enough information about the number of fake accounts on its service. Twitter said last month that it was making available to Musk a “fire hose” of raw data on hundreds of millions of daily tweets. The company has said for years in regulatory filings that it believes about 5% of the accounts on the platform are fake. Musk is also alleging that Twitter broke the acquisition agreement when it fired two top managers and laid off a third of its talent-acquisition team. Twitter’s suit repeatedly emphasizes Musk’s contemplation of starting a Twitter competitor—an alternative option he sometimes aired publicly and sometimes privately to Twitter’s executives and board members. While the company has said it cooperated in providing the data he requested on fake “spam bot” accounts, the lawsuit suggests Twitter was concerned that disclosing too much “highly sensitive information” could expose the company to competitive harm if shared. The biggest surprise for Quinn

Drug . . .

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Asian Development Bank and other agencies will ensure medical supplies until the end of next year, Wickremesinghe recently told lawmakers.

“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he—unlike every other party subject to Delaware contract law—is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” the suit stated. was how much evidence Twitter has—for instance, communications with Musk about whether to retain or lay off employees, as well as the billionaire’s own public tweets—to reject his arguments for backing out. “They are marshaling many of Musk’s own tweets to hoist him on his own petard,” he said. In a joint press release announcing the acquisition deal, Musk pledged to “unlock” the social media company’s potential by loosening restrictions on speech and rooting out fake accounts. Among his most attention-grabbing promises was to let former President Donald Trump back onto the platform. Musk argued that Twitter’s ban of Trump following the January 6, 2021 insurrection at the US Capitol was “morally bad” and “foolish in the extreme.” But his confidence didn’t last long. Tesla’s stock—Musk’s primary source of wealth—plummeted amid a broader stock market selloff in May, and Musk soon seemed less enthusiastic about owning Twitter. “For Musk, the best case is he pays the $1 billion breakup fee but that appears very unlikely,” said Wedbush Securities analyst Daniel Ives. “The irony is that Twitter as a fiduciary is clearly looking to enforce a deal that Musk doesn’t want to get done. It’s like buying a house you don’t want.” Twitter’s suit calls Musk’s tactics “a model of hypocrisy,” noting that he had emphasized plans to take Twitter private in order to rid it of spam accounts. Once the market declined, Twitter said, “Musk shifted his narrative, suddenly demanding ‘verification’ that spam was not a serious problem on Twitter’s platform, and claiming a burning need to conduct ‘diligence’ he had expressly forsworn.” Similarly, the company charges that Musk operated in bad faith, accusing him of requesting company information in order to accuse Twitter of providing “misrepresentations” about its business to regulators and investors. Musk “has been acting against this deal since the market started turning, and has breached the merger agreement repeatedly in the process,” the suit charged. “He has purported to put the deal on ‘hold’ pending satisfaction of imaginary conditions, breached his financing efforts obligations in the process, violated his obligations to treat requests for consent reasonably and to provide information about financing status, violated his non-disparagement obligation, misused confidential information, and otherwise failed to employ required efforts to consummate the acquisition.” But in the hospital wards and operating rooms, the situation seems much less reassuring and it threatens to erode public trust in the health system, Dhamaratne said. “Compared to Covid, as a health emergency today’s situation is far, far worse,” he said.

Opinion BusinessMirror

Thursday, July 14, 2022 A15

Global finance chiefs head to Bali to talk inflation, debt, oil By Michelle Jamrisko & Christopher Condon | Bloomberg Opinion

inancial stewards of the biggest economies in the world descend on the tropical island of Bali this week at a time when rapid inflation threatens to further destabilize populations and turn fragile recoveries into recession. The Group of 20 meetings of finance ministers and central bank governors Friday and Saturday in Indonesia will focus on a bevy of issues around soaring prices, threats of more sovereign defaults, and engineering soft landings for economies still in Covid recovery mode. Officials will have plenty more to discuss, with war raging in Ukraine and US-China tensions remaining on the boil, all while seeking to advance global initiatives around green energy, digital banking, and common tax standards. Here’s a look at some of the top issues set to dominate the gatherings:

Inflation, central bank credibility

Credited for rescuing the world economy from the Global Financial Crisis a decade ago, central bankers are now under fire for having to play catch-up on fighting rampant inflation this year. More than 80 central banks have hiked interest rates this year, with “jumbo” increases of 50 basis points or more becoming more popular. For Federal Reserve Chief Jerome Powell, the “bigger mistake” is falling further behind on inflation rather than pushing the economy into recession. Other economies have weaker fundamentals and buffers than the US, making for more volatile decisions. Growth issues are high on the agenda for the G-20 meetings, with two of the six priorities addressing post-Covid exit strategies to support the recovery and scarring effects from the last crisis. Many central bank governors in attendance will stay quiet this week, given blackout rules and norms around public comment with scheduled decisions coming soon. The European Central Bank, Japan, and Indonesia are among those with announcements next week. The Fed usually leaves public communication to the Treasury secretary at such gatherings.

Currency

Investors rushing to the safehaven US dollar in a risk-off environment are triggering a cascade of capital outflows, forcing officials to weigh decisions to intervene to protect their currencies. The issue will likely take center-

stage with US Treasury Secretary Janet Yellen and her Japanese counterpart Finance Minister Shunichi Suzuki as the yen plummets. Yellen has shown no willingness to green-light intervention to defend currencies crashing against the dollar. With a strong currency aiding the battle against imported inflation, getting any agreement beyond statements of concern and pledges to consult may be tough.

Emerging market pain

With limited external buffers and depleted foreign currency reserves, lower-income nations are struggling to beat back inflation as unsettled populations stoke political tension. Investors are turning increasingly cautious, pulling money out and in turn accelerating those economies’ stresses. A soaring debt pile of $237 billion due to foreign bondholders in notes trading in distress looms over a developing-market world that’s bracing for a potential domino effect of defaults. After Russia and Sri Lanka, Bloomberg Economics now sees five economies as most vulnerable to a default: El Salvador, Ghana, Egypt, Tunisia and Pakistan. Beijing, which became the No. 1 official lender to developing countries in recent years, has shown little enthusiasm for a new G-20 program, known as the Common Framework, meant to streamline the process of organizing creditors to act jointly with struggling debtors. That intransigence drew criticism from Group of Seven finance ministers when they gathered in Germany in May. The yawning emerging marketdeveloped market divide will be a talking point among the multilateral development bank representatives.

Food security

Several countries are especially troubled by ongoing supply issues, with Egypt, Turkey, Bangladesh, and Iran depending on Russia and Ukraine for more than 60 percent of their wheat, according to a United Nations report published in March. In April, during spring meetings of the International Monetary Fund and World Bank in Washington, the US Treasury convened a meeting of top international financial officials

Lurking in the background on geopolitics and trade is the Biden administration’s loose pledge to announce a lifting of at least some tariffs on China instituted under the Trump White House. While the move has been advertised as another effort to bring down domestic US inflation, any further hints of a slashing of those levies will be watched, especially by the Asia-Pacific economies that are more closely linked to China.

insurance ban without a price-cap exception would increase the global price of oil significantly, possibly to about $140 a barrel. It’s currently just above $100 a barrel. Country leaders at a recent Group of Seven meeting in Germany, at Biden’s urging, agreed to explore the proposal, but the plan is seen as practically and politically complex. It would require unanimous support within the EU to enact legal changes. Agreeing on a price level would also be fraught. And then there are questions over whether countries like China, India and Turkey would cooperate.

and food security experts to address the deepening crisis. Participants agreed to work out a set of common principles and a plan for action, but there has since been little visible progress.

Oil-price cap, geopolitics

Having staged a walkout when Russian officials began speaking at a previous G-20 gathering, Yellen is again likely to arrive in Indonesia with a much colder stance than the host country toward the aggressor of the conflict in Ukraine. At stake are soaring oil prices and lingering trade jams stemming from Russia’s ability to choke up global energy supply. The gathering this week will feature a mix of those whose governments have spoken out against Russia and those who remain somewhat quiet in the face of stark economic realities. Yellen will remain firm on ideas to mitigate the risks from Russia, including an oil-price cap initiative that’s unlikely to garner enough backing, while US President Joe Biden this week will be in Saudi Arabia to pitch for a production boost. The US and Canada have already banned Russian oil purchases, and the European Union has agreed to prohibit seaborne shipments to member countries by the end of the year, and to ban insurers from covering any tankers that carry Russian oil anywhere in the world. The new proposal would create an exception to the insurance ban for shipments priced below an agreed cap, set just above Russia’s production costs. The aim is to limit Moscow’s revenues from oil exports, while keeping Russian oil on the market and preventing another global price spike. A senior US Treasury official speaking to reporters in Tokyo on Tuesday said blocking exports of Russian petroleum through the

Trade

New global economy

A global tax deal struck last year among more than 130 countries remains hobbled by implementation hurdles as politics intervenes, including in the US. While big new milestones are unlikely to be met at these meetings, look for smaller agreements that could be struck to move the issues forward toward eventual widespread adoption. The agreement aims to prevent the world’s biggest companies from dodging taxes by instituting a global 15 percent minimum tax rate and also redistributing some taxing rights so that multinationals pay more taxes in the countries where they generate revenue, instead of only where they book profits. The deal was initially scheduled to take effect by the end of 2023, but that schedule has already been scrapped. The “build back better” era of global economic growth recovery also has consistently pushed green-economy issues at the forefront—even as so many economies are facing the reality of crude-oil dependence. Digital banking and financial inclusion also score separate slots among the meeting’s half-dozen stated priorities. Those initiatives get special attention among Asian economies that have made strides on issues like central bank digital currencies and electronic payments systems—including Indonesia and observer economies at the G-20 like Singapore and Thailand.

US, allies aim to cap Russian oil prices to hinder invasion By Fatima Hussein The Associated Press

A SHINGTON—With thousands of sanctions already imposed on Russia to flatten its economy, the US and its allies are working on new measures to starve the Russian war machine while also stopping the price of oil and gasoline from soaring to levels that could crush the global economy. The Kremlin’s main pillar of financial revenue—oil—has kept the Russian economy afloat despite export bans, sanctions and the freezing of central bank assets. European allies of the US plan to follow the Biden administration and take steps to stop their use of Russian oil by the end of this year, a move that some economists say could cause the supply of oil worldwide to drop and push prices as high as $200 a barrel. That risk has the US and its allies seeking to establish a buyer’s cartel to control the price of Russian oil. Group of Seven leaders have tentatively agreed to back a cap on the price of Russian oil. Simply speaking, participating countries would agree to purchase the oil at lower-thanmarket price. High energy costs are already straining economies and threatening fissures among the countries opposing Russian President Vladimir

Putin for the invasion of Ukraine in February. President Joe Biden has seen his public approval slip to levels that hurt Democrats’ chances in the midterm elections, while leaders in the United Kingdom, Germany and Italy are coping with the economic devastation caused by trying to move away from Russian natural gas and petroleum. The idea behind the cap is to lower gas prices for consumers and help bring the war in Ukraine to a halt. Treasury Secretary Janet Yellen is currently touring Indo-Pacific countries to lobby for the proposal. In Japan on Tuesday, Yellen and Japanese Finance Minister Suzuki Shunichi said in a joint statement that the countries have agreed to explore “the feasibility of price caps where appropriate.” However, China and India, two countries that have maintained business relationships with Russia during the war, will need to get on board. The administration is confident China and India, already buying from Russia at discounted prices, can be enticed to embrace the plan for price caps. “We think that ultimately countries around the world that are currently purchasing Russian oil will be very interested in paying as little as possible for that Russian oil,” Treasury Deputy Secretary Wally Adey-

emo told The Associated Press. The Russian price cap plan has support among some leading economic thinkers. Harvard economist Jason Furman tweeted that if the plan works, it would be a “win-win: maximizing damage to the Russian war machine while minimizing damage to the rest of the world.” And David Wessel at the Brookings Institution said an “ unpleasant alternative “ is not attempting the price cap plan. If a price cap is not implemented, oil prices will almost certainly spike due to a European Union decision to ban nearly all oil from Russia. The EU also plans to ban insuring and financing the maritime transport of Russian oil to third parties by the end of the year. Without a price cap mechanism to reduce some Russian revenues, “there would be a greater risk that some Russian supply comes off the market. That could lead to higher prices, which would increase prices for Americans,” Adeyemo said. A June Barclay’s report warns that with the EU oil embargo and other restrictions in place, Russian oil could rise to $150 per barrel or even $200 per barrel if most of its sea-borne exports are disrupted. Brent crude on Tuesday was trading just under $100 per barrel. James Hamilton, an economist

at the University of California, San Diego, said garnering the participation of China and India will be important to enforcing any price cap plan. “It’s an international diplomatic challenge on how you get people to agree. It’s one thing if you get the US to stop buying oil, but if India and China continue to buy” at elevated prices, “there’s no impact on Russian revenues,” Hamilton told the AP. “The less revenue Russia gets from selling oil, the less money they have to send these bombs on Ukraine,” he said. Jake Sullivan, Biden’s national security adviser, said during a Monday news briefing that “if it turns out that countries are imposing their own price cap and it is a substantial denial of revenue to Russia in terms of their ability to sell oil, that is not the failure of sanctions. That’s actually the success of economic pressure because it is driving down revenues for Moscow.” One possibility is that Russia could retaliate and take its oil off the market completely. In that case, “the main question is will countries have enough time to find alternatives” to prevent massive price increases, said Christiane Baumeister, an economist at the University of Notre Dame who studies the dynamics of energy markets.

A16 Thursday, July 14, 2022

DBM refining details of govt plan to ‘rightsize’ agencies

GROUPS CRAFT HUMAN CAPITAL DEVT STRATEGY By Andrea E. San Juan

USINESS and private sector groups have laid down recommendations on human capital development as they called on the government to prioritize nutrition and education in national policies. At a Joint Forum co-led by Philippine Business for Education (PBEd), Philippine Business for Social Progress (PBSP), and Makati Business Club (MBC) on Wednesday, representatives cited how vital nutrition and education are to attain national development and inclusive growth. Elvin Uy, Executive Director of the Philippine Business for Social Progress (PBSP), emphasized that the Philippine Plan of Action for Nutrition (PPAN)’s target for reducing the prevalence of stunting is 21.4 percent by 2022. However, Uy said the country is still 8.9 percentage points away from that target and it’s already 2022. Uy said the pandemic worsened the situation, with at least 59 million Filipinos being foodinsecure. In fact, the Philippines ranked 68th out of 116 countries worldwide last year with a high prevalence of hunger based on the Global Hunger Index. Moreover, the country’s Human Capital Index is .52. Uy said this figure means that the future productivity of every child born today will be only around half of what could have been achieved with complete education and full health. On stunting, he explained, a child becomes undernourished because of inadequate or inap-

propriate food, health and care. “A child stunting has adverse consequences including poor cognition, language, sensory motor capacities and poor school performance, low adult wages, and eventually lost productivity,” said Uy. Meanwhile, a Filipino child with optimal nutrition will have more significant cognitive development. “Staying in school longer, they’re more in school and have a brighter future as an adult while undernutrition robs other children of their chance to succeed,” added Uy. To address these issues, Uy laid down PBSP’s draft agenda for national development, recovery and inclusive growth. Among the recommendations is to develop nutritionspecific solutions for at-risk mothers and children in the First 1,000 days that are accessible and free. Uy noted that the first two years of a child’s life offer a brief but very critical period, as this will shape a child’s development. In fact, proper nutrition at this stage “can have the greatest impact later in life,” said Uy. Another recommendation is to support Public-Private Partnerships for nutrition-centric governance at the provincial, city, and municipal levels to ensure effective and sustained implementation of the Philippine Plan of Action for Nutrition (PPAN). PBSP’s third recommendation is to strengthen inclusive safety nets for the most vulnerable households through continued access to safe, affordable and nutritious food, and expansion of economic opportunities for them.

By Bianca Cuaresma

@BcuaresmaBM

HE Department of Budget and Management (DBM) chief said they are currently “polishing” the details of the current administration’s plan to “rightsize” government agencies.

In an interview on Wednesday, Secretar y A menah Pangandaman expressed support for the administration’s plan of “rightsizing” government agency processes and personnel to streamline the bureaucracy’s functions and potentially cut operational costs. Pangandaman said they are now currently looking which among the 187 government agencies and government-owned and -controlled corporations (GOCCs), with more or less 2-million personnel, may be streamlined through merging, restructuring or abolition. The proposal for rightsizing excludes teaching and teaching-related positions, medical and allied medical positions or those in the health sector, and the military as well as other uniformed personnel. The budget chief said the proposal to rightsize the bureaucracy is now being polished for submission to Congress before the delivery of the President’s State-of-the-Nation Address (SONA).

“Ang overarching objective nito [rightsizing] ay magkaroon ng maliit na burukrasya na agile at responsive sa makabagong panahon. Aayusin po ng programang ito ‘yung mga ahensya na mayroong [The overarching objective of rightsizing is to have a small but agile and responsive bureaucracy that suits the times. The program will reform those agencies with] repetitive functions or overlapping functions,” Pangandaman said. With the proposed rightsizing, the budget chief said the government will be able to save a “significant amount of the budget” which in turn may be used to fund priority projects such as in building muchneeded infrastructure, for social services, programs in the health sector, agriculture, among others. She cited an example: “If 5 percent [of manpower] is affected by the rightsizing program, this translates to P14.8 billion annually that government can save in personnel services,” she said, in a mix of Eng-

lish and Filipino. The affected personnel, she added, may apply for positions that will be created as an effect of the rightsizing. The government is also expected to provide a retooling program for personnel so they may apply in vacant positions. Those who opt to retire will also receive appropriate retirement benefits. “The (affected personnel) may apply for other positions that we may create because of the rightsizing. For the others, we will come up with suitable programs for their retooling. We will be working on this with the Civil Service Commission. Those who retire will get retirement benefits,” Pangandaman said.

Villanueva backs DBM

MEANWHILE, incoming Senate Majority Leader Joel Villanueva said he supports moves from the national government to improve its efficiency and institutional capacity to deliver public service. But, Villanueva said in a statement, “before we start discussing the issue of rightsizing of the government bureaucracy, we need to discuss two pressing questions: “First, why is it that roughly 1 out of 10 (or 178,128 out of 1,899,925) authorized positions in the national government remain unfilled? We want to know how these unfilled positions will be filled up. There should also be a comprehensive study of the staffing pattern of government agencies to determine whether some existing plantilla

positions are already obsolete, redundant or unnecessary. We have been calling the attention of the Executive on this issue since 2016, but unfortunately, this remains unaddressed. “Second, why is there a significant number of government workers under Job Order (JO) or Contract of Service (COS) positions in the government, when there are a lot of unfilled positions? Based on data from the Civil Service Commission as of August 2021, there are 100,895 JO and COS positions in the national government and more than 40,000 additional JO/COS positions are in GOCCs and SUCs.” In the v iew of Villanueva, long-time chairman of the Senate Labor committee, the DBM can, by addressing these two issues first, “identify which agencies can be rightsized and this could mean an efficient way of delivering public services in the most economical way.” In any case, the senator said “the government should be prepared with its employment generation program, in the event that it determines, after a comprehensive study, that there is really a need to let go of some people.” He noted that he had filed a bill institutionalizing the National Employment Recovery Strategy to become the National Employment Action Plan (NEAP) “to ensure that the government will have a concrete and achievable job generation strategy in the coming years.”

Continued on A13

FILE PHOTO/BERNARD TESTA

LTO seeks Congress help for ₧6.8-B fund for car plates backlog

By Samuel P. Medenilla @sam_medenilla

HE Land Transportation Office (LTO) on Wednesday said it needs P6.8 billion to address the massive backlog in the release of vehicle plates. In a television interview, LTO Officer-in-charge Romeo G. Vera Cruz disclosed they will seek the assistance of Congress to get that funding. “We have a massive backlog for plates. I think we need about P6.8 billion to address all these backlogs for four-wheel [vehicles] and those for motorcycles,” Vera Cruz said. Last month, LTO said it will need P2.6 billion to outsource the production of motorcycle plates alone. Despite LTO’s existing automated plate-making plant, it noted that it has to resort to outsourcing due to the sheer volume of its backlog. It explained it must request for an additional budget for the

outsourcing since the fees paid by motorists for their plates are immediately transmitted to the Bureau of the Treasury.

Processing glitches

IN a related development, Vera Cruz said LTO is also currently addressing the “glitches” in the registration of vehicles using their online system, as well as the issuance of drivers license. “We encountered a problem there because of data migration. So we have experts who are already looking into that,” Vera Cruz said. For licenses, he said the common issue is the breaking down of their laser engravers. “Our engravers are about five years old so they are now breaking down. So we have to buy spare parts to repair all of these,” Vera Cruz said. He noted once they address both “glitches,” their clients could expect better processing time.

AN egg vendor arranges trays of eggs at a store in Blumentritt, Manila, on Wednesday, July 13, 2022. Higher production cost of feeds in the market and the avian flu have contributed to the increase of prices of eggs. ROY DOMINGO

PBBM to end isolation after Covid reinfection By Samuel P. Medenilla @sam_medenilla

RESIDENT Ferdinand “Bongbong” R. Marcos, Jr. is expected to resume his face-to-face engagements by Friday after being reinfected with Covid-19 last week. This after Marcos’s lead physician, Samuel Zacate, said the President no longer showed any Covid-19 symptoms such as cough, fever,

nasal stuffiness and itchiness in the last two days. “Dr. Zacate gave the happy news that on the fifth and sixth day of his isolation, the President is now free from all symptoms of Covid 19,” Press secretary Beatrix “Trixie” Cruz-Angeles said in a statement issued on Wednesday. “The President’s vital signs are all within normal limits. He has no signs of respiratory distress and is

very comfortable,” she added, citing Zacate’s medical bulletin. However, Angeles said Zacate still recommended that Marcos complete the prescribed seven-day isolation period. “If there is no reappearance of any sign and symptoms related to Covid-19, and provided further that he has no fever for the next 24 hours, the President can be released from isolation on Friday, July 15,”

Zacate said in his medical bulletin. Last Friday, Malacañang announced Marcos tested positive for Covid-19 after undergoing an antigen test. His first Covid-19 infection was in 2020. This resulted in Marcos undergoing isolation. The President, however, continued to work remotely during the period.He even held his second Cabinet meeting last Tuesday albeit using teleconferencing.

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, July 14, 2022

PSE index expected to hit 7,100 points by year-end

By VG Cabuag

@villygc

he benchmark Philippine Stock Exchange index (PSEi) is projected to reach 7,100 points by year-end, according to First Metro Investment Corp. (FMIC), the investment banking arm of the Metrobank Group. A man pedals past the Philippine Stock Exchange in this BusinessMirror file photo. Nonie Reyes

The said projection was down from January’s year-end prediction of 8,100 points for the PSEi. Cristina Ulang, research head at FMIC, said the forecast was downgraded as “there’s so much headwinds” that had “dramatically changed the picture.” “We need another financial education now to be able to weather the very tricky, volatile market,” Ulang said during a virtual briefing on

Wednesday. “We’ve gone from a period of great moderation like a prepandemic, we had GDP growth of 6 percent and low interest rates...the pandemic. We even had lower interest rates, the BSP [Bangko Sentral ng Pilipinas] was supporting the economy, among others.” The PSEi closed on Wednesday at 6,255.37 points, 94.57 points lower than the previous close.

Last February, the PSEi reached a high of 7,502 points and but it steadily dropped between 11 to 12 percent, with trading nearly reaching the bear market territory of 6,000 points. “Early in the year we were predicting 8,100 for the PSEi but suddenly we have the Ukraine (war) where and no one has foreseen the Ukraine war happening February. That was when the market began adjusting and digesting a lot of news that are really

hard to price in,” she said. Ulang said factors that would drive the market upward include the new government’s pronouncement of the continuation of policy reforms, economic expansion, infrastructure rollout, and market-friendly reform measures. Earnings per share growth in the equities market is seen to hit 10 percent and hit 17 times of price-toearnings ratio.

Ikea PHL recalls espresso maker By Andrea E. San Juan @andreasanjuan

ome furnishing retailer Ikea Philippines said it is recalling the Metallisk espresso maker with the stainlesssteel safety valve as the product can burst during use. T he company recent ly announced the recall of the espresso maker in its stores, website and in social media. “Ikea urges all customers who own Metallisk espresso maker for hob 0.4 I with the stainless steel safety valve, date stamps between 2040 and 2204, to stop using it and to contact Ikea

for a full refund,” the company said in a statement. Ikea said it will not require proof of purchase. Last year, Ikea of Sweden started to receive an increasing number of bursting incident reports of the Metallisk espresso maker. A total of 13 alarms (incident reports) were reported globally from South Korea, France, Finland, Italy, Poland, Netherlands, Sweden, Canada and Romania where the espresso maker with the stainless steel safety valve burst. Four of the reports involved injuries. Out of the four, three needed medical attention and are from France, Poland and Canada. As of

June 8, there has not been a single report locally. Based on the investigation, Ikea of Sweden noticed that the alarms started to come after the material for the product safety valve was changed from brass to stainless steel. Since then, Ikea said it has conducted extensive evaluation of the root cause and several tests have been performed since January. Ikea said a bursting incident can only happen when the water is blocked from travelling through the coffee ground into the upper container. “Safety is a top priority for Ikea and therefore we are recalling the

Metallisk espresso maker with the stainless-steel safety valve to protect the Filipino consumers from the potential risk of bursting incidents while using the said product,” the company said. Ikea opened its first outlet in the Philippines on November 25, 2021. The retailer’s largest store in the world has a total surface area of 68,000 square meters facility in the Mall of Asia Complex, distributed across five floors, two of which houses its brick-and-mortar retail space while the other levels are dedicated to its warehouse as well as its call center to handle the e-commerce side of the business.

RSA receives highest honor from French govt

an Miguel Corp. President and CEO Ramon S. Ang has been conferred the highest distinction given by the French government, the Legion of Honor, with the rank of Officier (Officer), in recognition of his contributions to strengthening ties between the Philippines and France by advancing shared economic goals and being a force for good. Her Excellency, Michèle Boccoz, French Ambassador to the Philippines, conferred the honor to Ang in an event marking 75 years of diplomatic relations between the two countries. According to the French Ambassador, the Legion of Honor is the most prestigious distinction given by the Republic of France, and is awarded in recognition of distinguished and eminent service. During the ceremony at the French Ambassador’s Residence, Boccoz thanked Ang “for the role you play as a businessman and as a philanthropist to strengthen those ties between France and the Philippines, and to promote friendship between our two peoples” Ang joins a short and distinguished list of Filipinos to have received the honor, including past Philippine presidents. In bestowing the honor, Boccoz cited Ang’s efforts that led to the delivery of French humanitarian aid to the Philippines, as well as the strengthening of economic ties. The French Ambassador recalled

Photo shows French Ambassador to the Philippines Michèle Boccoz and San Miguel Corp. President and CEO Ramon S. Ang. Contributed photo

Ang’s invaluable assistance in the aftermath of typhoon Haiyan in 2013, when, as then president and COO of flag carrier Philippines Airlines (PAL), he enabled the transport of aid from France to the Philippines. Following the calamity, Ang had already instructed PAL to fly rescue workers and aid for free. Incidentally, during the same period, PAL was also taking delivery of a brand new Airbus jet from Tolousse, France. In coordination with Ang, Airbus and the French government were able to fill the new aircraft with food aid and medicines, as well as transport French doctors and first-responders to help with the relief and recovery effort. The Ambassador also cited Ang for his “decisive role” in the establishment of a long-term partnership between Airbus and the flag carrier when it initiated a fleet renewal program under Ang. Ang has also continued to bring French expertise to its key infrastructure projects in the Philippines as part of SMC’s aggressive efforts to improve the lives of Filipinos, boost the economy, and help in nationbuilding. The Ambassador cited SMC and Ang’s selection of the Aeroport de Paris Group as one of its consultants in the development of the New Manila International Airport (NMIA), touted to be the largest and most modern international gateway in the Philippines.

‘Labor shortage in construction sector to persist’ L

abor scarcity is one of the trends that the Philippine construction sector expects to continue this year as economic activity picks up, a homegrown project management company’s top executive said on Wednesday. According to JCV & Associates (JCVA) President, CEO and founder Jason Valderrama, there will still be a shortage of construction manpower in the country despite the increased demand for labor in this field due to two factors. For one, Valderrama said during a webinar that workers are leaving the country in search of greener pastures. “So basically our local labor market is competing against the likes of [the] Middle East, and the companies in those countries offer higher wages.” Another factor that will affect labor in the construction sector is its projected rebound this year. “Given the accelerated growth of the Philippine construction industry in the past year (21.9 percent in 2021) and its projected 14.9 percent growth in 2022, we also foresee an increase in demand for construction jobs,” he told the BusinessMirror in an e-mail interview. Former Labor Secretary Silvestre Bello III previously reported that around 800,000 to 1 million skilled workers in the field of construction, architecture, and engineering are needed up to 2022 to address the labor shortage amid the country’s construction boom. Based on estimates of the Organization of Socialized and Economic Housing Developers of the Philip-

pines, some two million addition workers would be needed until this year for the “Build, Build, Build” program. President Ferdinand R. Marcos Jr. had said he will continue the infrastructure project program initiated by his predecessor. To address the shortage supply of manpower in the field, the JCVA official said major construction companies are implementing a number of measures, such as forging tie-ups with the Technical Education and Skills Development Authority to train and upskill the local construction workforce. “They’ve been doing that already. But they’re putting more emphasis and more importance in that given the scarcity and the shortage [of construction workers nationwide].” While the construction sector traditionally has been a laggard in terms of embracing technology and digitalization, he said the health crisis has accelerated the digital shift of industry players. “With the growth in construction demands not just in NCR [National Capital Region] but also in other regions such as Calabarzon [Cavite, Laguna, Batangas, Rizal and Quezon], we really see the need for techenabled programs and solutions that can help augment the skill gap.” Other industry trends to expect this year and beyond, Valderrama said, are the rise of virtual and connected construction, construction/project management software, greener construction, modular and prefabricated construction, as well as supply chain disruptions. Roderick L. Abad

PepsiCo boosts profit outlook for this year

epsiCo Inc. is winning the inflation battle so far, successfully passing on surging commodity costs by persuading consumers to pay more for their soda and chips. Higher prices for raw commodities like sugar and increased wages for labor led the snack and drink giant to charge customers about 12 percent more on average in the second quarter, the company said Tuesday. And though inflation-wary consumers only slightly increased the amount of PepsiCo food and beverages that they purchased, the higher prices enabled the company to increase its profit outlook, saying it expects revenue to grow 10 percent this year. The new guidance reflects “the strength and resilience of our categories and consumer demand trends,” PepsiCo said in a statement. As it’s one of the first major industry competitors to report second-quarter data, investors are closely watching PepsiCo for insights into how shoppers are behaving as persistent inflation stretches their ability to absorb price increases. “Nobody’s isolated from inflationary pressures,” Chief Executive Officer Ramon Laguarta said on a call with analysts. Traders weren’t overly impressed with PepsiCo’s performance, with its shares edging up 0.2 percent to $170.75 in New York trading at midday. The stock is down less than 2 percent this year, outpacing the 19-per-

Cans of PepsiCo Inc. Diet Pepsi and Pepsi brand beverages are displayed for sale at a grocery store in Louisville, Kentucky, United States, on Tuesday, September 24, 2019. Bloomberg News

cent decline of the S&P 500 Index. The maker of Mountain Dew, Fritos and Quaker Oats had previously increased its revenue forecast in April, nudging it up to 8 percent from 6 percent. Profit and sales in the second quarter beat estimates, the company said. PepsiCo reported sales of $20.2 billion in the quarter—just above analysts’ average estimate of $19.55 billion. Profit excluding some items was $1.86 a share, above the $1.74 estimate.

Muted volumes

That higher revenue came despite muted and mixed sales of chips and soda, an indication of the Purchase, New York-based company’s ability to pass its higher costs on to customers. Frito-Lay North America’s volume was down 2 percent, in part due to a temporary production glitch with the company’s hummus brand, Sabra. Quaker Foods North America was up 2 percent, and PepsiCo Beverages North America slipped 1 percent. Bloomberg News

Companies BusinessMirror

Thursday, July 14, 2022

‘Power spot market prices up in June on low supply’

By Lorenz S. Marasigan

@lorenzmarasigan

he Independent Electricity Market Operator of the Philippines (IEMOP) said on Wednesday prices at the Wholesale Electricity Spot Market (WESM) for June rose due to the higher power demand and lower supply. In a statement, the IEMOP said Effective Spot Settlement Price (ESSP) went up by P2.59 per kilowatt-hour

(kWh) last month, bringing the average price to P9.01/kWh, higher than May’s P6.42/kWh billing.

Cebu Pacific expands domestic operations

BusinessMirror file photo

UDGET carrier Cebu Pacific is expanding its domestic operations by increasing its frequencies in its Visayas-Mindanao network via its hub in Cebu. Cebu Pacific Chief Commercial Officer Xander Lao said the group is adding two weekly flights to its Cebu-Iloilo and Cebu-Tacloban flights starting August 5. These additional frequencies will increase the Cebu-Iloilo route to nine times per week from seven times per week, while from 14 weekly flights to 16 weekly flights for the CebuTacloban route. “We are pleased to keep enabling everyJuan to easily f ly across our widest domestic network as we continue to boost our network in the Visayas and Mindanao. We have seen consistent demand for these routes, and we hope to keep expanding our footprint as more people confidently fly again,” Lao said. Cebu Pacific is flying on a recovery path to its pre-pandemic operational levels. Overall, it has restored 88

percent of its pre-pandemic capacity. It also expects to restore 100 percent of its workforce by the first quarter of 2023. The airline recently announced that it has expanded its Asia Pacific footprint with the resumption of its flights to Australia. With the easing of travel restrictions in the Philippines and Australia, Cebu Pacific has resumed its thrice weekly flights between Manila and Sydney. As countries continue to reduce Covid-19 measures, Cebu Pacific plans to revitalize its international network. Its domestic network has already been restored to 100 percent of its pre-pandemic capacity. Last month, the airline announced that it will ramp up its flights to Singapore from Manila and Cebu. In an advisory, Cebu Pacific said it will double the daily frequency of its Manila-Singapore operations starting July 1, while its thrice weekly Cebu-Singapore route will reopen on July 15. Lorenz S. Marasigan

“The price increase was largely attributed to a lower supply margin – down by 258 MW or 6.22 percent, due to reported planned and forced generator outages in the said period,” IEMOP said. The upward adjustment of market price was also “largely dependent” on the offer price of generators, which have also been affected by the rising fuel costs. Due to this, the Secondary Price Cap Mechanism (SPC), which was set in place to protect consumers against sustained high WESM prices, was also applied 35.17 percent of the time in the June billing month. “With the increase in market price, spot market purchases de-

mutual funds

creased. The customer spot quantity in June is only at 9.1 percent or equivalent to 714 GWh of the total requirement for electricity in the Luzon and Visayas grids,” IEMOP said. Roughly 90 percent of the electricity consumption of end-users is sourced by the Distribution Utilities through power supply agreements with generation companies at their approved contract prices. Recorded peak demand for Luzon and Visayas dipped by 2.43 percent compared to the month prior as the rainy season reduces the use of cooling systems. Annualized, demand, however, was still 2.02 percent higher since the easing of pandemic restrictions.

July 13, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 203.55 -8.26% -9.06% -5.9% -12.67% ATRAM Alpha Opportunity Fund, Inc. -a 1.3373 -8.01% -7.12% -3.85% -19.64% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7893 -9.16% -12.9% -8.56% -13.85% Climbs Share Capital Equity Investment Fund Corp. -a 0.6992 -9.68% -10.27% n.a. -7.57% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6565 -14.33% -9.92% n.a. -14.84% First Metro Save and Learn Equity Fund,Inc. -a 4.5903 -6.22% -6.51% -4.01% -11.43% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6831 -8.86% -6.71% -5.37% -12.79% MBG Equity Investment Fund, Inc. -a 76.14 -26.23% -14.69% n.a. -19.37% PAMI Equity Index Fund, Inc. -a 41.9104 -7.85% -7.96% -4.45% -12.92% Philam Strategic Growth Fund, Inc. -a 436.33 -8.56% -7.89% -4.58% -12.85% Philequity Dividend Yield Fund, Inc. -a 1.2248 6.63% -3.39% -1.52% -9.7% Philequity Fund, Inc. -a 31.9263 -6.34% -7.17% -3.54% -12.76% Philequity MSCI Philippine Index Fund, Inc. -a 0.8267 -6.57% -8.49% n.a. -12.18% Philequity PSE Index Fund Inc. -a 4.3408 -6.88% -7.33% -3.79% -12.5% Philippine Stock Index Fund Corp. -a 723.27 -7.35% -7.4% -3.87% -12.7% -14.95% Soldivo Strategic Growth Fund, Inc. -a 0.6401 -10.38% -12.46% -6.83% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2537 -8.17% -9.95% -5.29% -13.82% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8232 -7.65% -7.69% -4.12% -12.84% United Fund, Inc. -a 3.033 -6.69% -7.53% -3.17% -11.76% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 1.0034 -7.78% n.a. n.a. -13.7% Philippine Stock Index Fund Corp. -a 880.55 n.a. n.a. n.a. n.a. Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 97.5059 -6.97% -7.19% -3.48% -12.53% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.9114 -26.4% -2.81% -1.71% -19.09% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4529 -19.58% 3.26% 4.61% -21.31% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.5392 -9.07% -4.62% -2.91% -9.03% ATRAM Philippine Balanced Fund, Inc. -a 2.073 -7.42% -4.31% -2.69% -9.14% First Metro Save and Learn Balanced Fund Inc. -a 2.4941 -4.41% -2.73% -1.25% -7.32% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1923 -1.64% n.a. n.a. -7.99% NCM Mutual Fund of the Phils., Inc. -a 1.8721 -4.29% -1.6% -0.42% -7.17% PAMI Horizon Fund, Inc. -a 3.4095 -7.6% -3.58% -1.93% -9.44% Philam Fund, Inc. -a 15.2816 -7.62% -3.74% -1.98% -9.28% Solidaritas Fund, Inc. -a 1.9583 -4.93% -3.58% -1.92% -7.69% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2793 -6.99% -6.06% -2.94% -10.08% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8541 -3.52% -5.68% -2.53% -10.49% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.8933 -9.61% -4.79% n.a. -9.75% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8192 -9.77% -7.58% n.a. -13.27% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8072 -9.84% -7.94% n.a. -13.57% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03318 -13.32% -3.98% -1.45% -12.55% PAMI Asia Balanced Fund, Inc. -b $0.9127 -17.88% -2.74% -1.3% -14.47% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.9466 -16.97% 1.34% 2.93% -17.82% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.014 -15.58% -1.84% 0.14% -15.4% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 373.48 0.27% 2.09% 2.27% -0.22% ATRAM Corporate Bond Fund, Inc. -a 1.8868 -1.92% -0.25% 0.08% 0.11% Cocolife Fixed Income Fund, Inc. -a 3.2266 -0.15% 1.86% 3.24% -0.54% -0.41% Ekklesia Mutual Fund Inc. -a 2.1668 -4.27% 0.6% -3.76% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.3964 -1.86% 1.15% 1.6% -1.22% Philam Bond Fund, Inc. -a 4.1793 -6.56% -0.11% 0.53% -4.92% Philam Managed Income Fund, Inc. -a 1.32 0.2% 2.74% 2.79% 0.07% Philequity Peso Bond Fund, Inc. -a 3.8811 -2.53% 1.67% 2.18% -2.14% Soldivo Bond Fund, Inc. -a 1.0065 -2.7% 2.35% 1.67% -2.11% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.125 -2.73% 1.73% 2.56% -1.96% Sun Life Prosperity GS Fund, Inc. -a 1.6912 -3.29% 0.87% 1.88% -2.28% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $481.41 1.57% 1.79% -1.67% -1.03% ALFM Euro Bond Fund, Inc. -a Є210.56 -4.35% -1.17% -0.07% -4.3% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0781 -10.02% -3.1% -0.84% -10.45% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0242 -7.28% -1.98% -0.57% -6.92% PAMI Global Bond Fund, Inc -b $0.8976 -15.14% -6.15% -3.47% -12.24% Philam Dollar Bond Fund, Inc. -a $2.2092 -12.22% -2.08% -0.05% -11.83% Philequity Dollar Income Fund Inc. -a $0.0607079 -3.67% 0.75% 1.18% -2.54% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7579 -13.62% -3.7% -1.53% -13.71% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.34 1.53% 2.28% 2.56% 0.88% First Metro Save and Learn Money Market Fund, Inc. -a 1.0642 1.03% 0.26% n.a. 0.61% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3266 1.59% 2.11% 2.47% 0.84% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0642 0.6% 1.13% n.a. 0.34% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 44.6937 n.a. n.a. n.a. n.a. Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2362 -6.31% n.a. n.a. -10.61% Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.8156 -18.44% n.a. n.a. -15.92% 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

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG FILIPINO FUND MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH

871,780 184,613,451 8,115 60,587,904.50 2,445,825 1,646,206 177,891,085 303,600 82,270 837,768 7,228 2,108,160 62,032,855.50 849,573.50 1,348,360 86,270 124,000 10,100 21,550 12,900 49,000 48,500 1,145,911

768,395 -19,566,962 -18,282,151.50 804,620 -397,378 -85,148,270 -701,148 -5,560 2,996,340.50 -13,088.50 6,920 -32,300 -

INDUSTRIAL AC ENERGY 8.25 8.26 8.25 8.42 8.19 8.27 9,441,600 78,277,625 ALSONS CONS 0.94 0.96 0.94 0.94 0.94 0.94 10,000 9,400 ABOITIZ POWER 31.2 31.25 31.5 31.55 30.5 31.5 3,237,900 101,062,005 RASLAG 1.95 1.96 2.02 2.02 1.9 1.9 9,514,000 18,599,270 BASIC ENERGY 0.375 0.38 0.395 0.395 0.375 0.375 2,920,000 1,102,200 FIRST GEN 17.1 17.12 17.24 17.42 17 17.1 321,000 5,496,316 FIRST PHIL HLDG 61 62 61 62 61 61 1,830 111,790 MERALCO 348.2 349 353.8 354 346 350 223,100 77,947,976 MANILA WATER 16.76 16.78 16.92 16.92 16.6 16.78 229,000 3,825,022 PETRON 3.03 3.05 3.04 3.07 3.03 3.03 168,000 510,190 PETROENERGY 4.62 4.81 4.62 4.62 4.62 4.62 1,000 4,620 PHX PETROLEUM 9.23 9.65 9.6 9.98 9.6 9.65 3,900 37,523 SYNERGY GRID 12.1 12.12 12.1 12.2 12.08 12.1 5,667,200 68,672,094 17.84 18 18 18 17.82 17.84 16,100 287,590 PILIPINAS SHELL SPC POWER 9.09 9.1 9.11 9.11 9.08 9.1 82,500 750,830 1.58 1.59 1.67 1.67 1.56 1.56 61,329,000 97,671,110 SOLAR PH 5.45 5.46 5.51 5.54 5.4 5.46 497,900 2,725,204 AGRINURTURE 2.18 2.19 2.2 2.2 2.17 2.18 235,000 512,720 AXELUM 24.75 24.8 25.75 25.75 24.55 24.75 1,984,600 49,493,005 CENTURY FOOD 13.8 13.98 13.8 14.02 13.8 13.98 5,700 79,372 DEL MONTE DNL INDUS 6.98 6.99 6.97 7.03 6.97 7 6,750,700 47,302,040 17.34 17.36 18.14 18.14 17.08 17.42 20,929,400 358,263,566 EMPERADOR 44.85 44.9 45.2 45.2 44.5 44.9 181,400 8,150,660 SMC FOODANDBEV 0.65 0.66 0.66 0.67 0.64 0.65 16,978,000 11,126,230 FIGARO COFFEE 1.03 1.07 1.08 1.08 1.02 1.07 1,178,000 1,249,860 FRUITAS HLDG GINEBRA 97.1 100 98 100 97.15 100 26,190 2,566,815 JOLLIBEE 207.6 207.8 213 214.6 207 212.6 390,490 82,204,450 KEEPERS HLDG 1.09 1.11 1.11 1.11 1.09 1.09 1,440,000 1,580,990 LIBERTY FLOUR 17.72 20.2 17.64 17.64 17.64 17.64 100 1,764 MAXS GROUP 4.46 4.51 4.51 4.52 4.41 4.48 114,000 510,550 MG HLDG 0.109 0.11 0.111 0.111 0.107 0.107 2,550,000 279,500 MONDE NISSIN 13.84 13.86 13.52 14.2 13.52 13.94 14,593,100 202,711,368 SHAKEYS PIZZA 6.9 7 7 7 6.9 7 237,100 1,659,100 ROXAS AND CO 0.53 0.54 0.54 0.54 0.54 0.54 12,000 6,480 RFM CORP 3.9 3.95 3.9 3.9 3.9 3.9 15,000 58,500 ROXAS HLDG 1.24 1.26 1.25 1.25 1.25 1.25 9,000 11,250 SWIFT FOODS 0.09 0.093 0.089 0.094 0.089 0.093 60,000 5,520 116 116.1 117.8 117.8 115.6 116.8 1,193,040 138,830,892 UNIV ROBINA 0.6 0.61 0.6 0.61 0.56 0.61 411,000 235,400 VITARICH VICTORIAS 2.5 2.69 2.5 2.5 2.5 2.5 20,000 50,000 CONCRETE A 36.75 40 40 40 40 40 2,000 80,000 CEMEX HLDG 0.58 0.6 0.6 0.62 0.58 0.59 1,166,000 692,790 12.08 12.24 12.08 12.1 12.08 12.1 3,800 45,940 EAGLE CEMENT EEI CORP 3.47 3.5 3.64 3.64 3.45 3.45 282,000 1,000,640 5.07 5.08 5.08 5.19 5.07 5.08 43,400 220,463 HOLCIM MEGAWIDE 4.33 4.35 4.5 4.5 4.25 4.26 687,000 2,950,250 19.2 19.38 19.38 19.4 19.2 19.36 4,800 92,698 PHINMA 0.7 0.74 0.7 0.7 0.7 0.7 112,000 78,400 TKC METALS VULCAN INDL 0.78 0.79 0.78 0.79 0.78 0.79 404,000 316,010 EUROMED 1 1.04 1 1 1 1 30,000 30,000 MABUHAY VINYL 5.3 5.58 5.3 5.57 5.3 5.57 3,300 17,841 PRYCE CORP 5.45 5.52 5.45 5.45 5.45 5.45 3,300 17,985 CONCEPCION 18.3 18.9 18.14 18.9 18.14 18.3 1,400 25,808 GREENERGY 1.57 1.58 1.54 1.59 1.54 1.59 8,724,000 13,719,310 INTEGRATED MICR 6.06 6.1 6.1 6.1 6.06 6.09 31,800 193,480 IONICS 0.67 0.69 0.7 0.7 0.67 0.69 22,000 14,790 SFA SEMICON 1.12 1.17 1.14 1.17 1.14 1.15 60,000 69,080 CIRTEK HLDG 2.76 2.8 2.83 2.83 2.75 2.76 306,000 848,400

-1,702,258 -6,764,105 38,400 -386,316 -18,300 2,172,740 1,378,232 -97,210 -4,620 -22,336,714 45,500 322,210 1,018,452 -2,180 -5,350,130 28,835 2,382,896 -5,384,275 410,210 1,050 1,950,285 14,499,090 416,830 -109,370 90,700 54,045,280 -1,617,000 -26,117,018 -522,270 -67,540 124,100 -5,760 -28,000 -10,600 -17,440 -16,358 9,001,190 -7,215 -46,200 -

HOLDING & FRIMS

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

43.15 119.3 8.1 87.4 26.9 6.95 47.85 6.9 16.08 17.98 55.6 19.52 89.2 76 1.8 3.44 0.62 2.05 4.12 0.25 865 0.6 178

1.66 3.65 607 49.6 9.92 8.43 0.395 0.41 4.38 8.9 0.209 466 3.43 49.7 0.53 2.91 8.4 3.69 2.19 2.5 0.92 792.5 104.8 108.1 0.24

44.9 119.4 8.24 87.45 26.95 6.98 47.9 7 17.86 18 56.8 19.7 89.25 76.95 1.83 3.5 0.68 2.49 6.41 0.295 980 0.64 178.1

1.67 4.2 607.5 49.7 9.93 8.5 0.4 0.44 4.39 8.92 0.27 466.2 3.5 49.75 0.61 3.05 8.41 3.7 2.33 2.51 0.96 793 104.9 112 0.25

1.65 3.6 602 49 9.85 8.43 0.395 0.405 4.38 8.84 0.209 463 3.42 49.4 0.61 2.91 8.38 3.62 2.25 2.45 0.92 791 104 105.1 0.24

44.95 119.9 8.1 87.55 26.95 6.93 47.65 6.9 17.9 17.98 55.6 19.52 89 76.9 1.8 3.45 0.62 2.02 4.31 0.25 980 0.6 178

1.71 3.6 604 49 10 8.43 0.395 0.405 4.44 9 0.209 463 3.42 49.6 0.61 2.91 8.46 3.73 2.25 2.51 0.92 797 104 112 0.25

19,400 1,542,460 1,000 688,630 90,600 235,900 3,696,900 44,000 5,100 46,600 130 108,000 693,560 11,140 748,000 25,000 200,000 5,000 5,000 50,000 50 80,000 6,370

28,186,000 60,000 288,370 335,360 2,699,100 40,100 1,540,000 410,000 120,000 4,293,800 550,000 134,020 67,000 1,406,150 649,000 5,000 921,100 14,466,000 15,000 1,506,000 135,000 657,780 40,450 1,490 2,450,000

47,419,920 216,480 175,325,850 16,533,883 26,931,183 341,984 617,350 168,050 528,430 38,568,850 114,950 62,851,748 229,160 70,155,972 395,890 14,910 7,757,022 53,490,810 34,200 3,795,610 125,000 523,515,170 4,220,501 166,811 611,000

5,298,280 -60,023,970 -10,248,082 -8,691,833 15,514 -48,560 -10,987,196 -35,347,408 -6,860 -4,731,326 -8,730 706,207 24,825,910 -920 -173,994,275 -802,060 -1,650 -233,398,830 -186,920 -75,518,445 20,410 -8,300 302,500 -15,000 249,660 -28,254.00 1,162,870 96,561 -47,850 2,090 45,370 -3,330,680 -942,300 -1,678,080 -754,654 -8,571,722 -34,035,700 -1,448,570.00 -3,471,610 -33,674,520 1,861,400 54,027,565 239,740 -99,480 -86,000.00 85,500 32,898 -13,840 -323,340 -10,124,954 -3,924 -560 30,600 -99,900 35,400 -2,593,708 973,070.00 -770,350.00 -329,610 -92,000 -5,620 -4,370 -26,100 -3,844,170 9,644,351 100,115 2,903,320 -55,806,840 -6,800 -2,900 -2,279,310 27,300 -133,840 -9,500 188,400 9,200 988,930 46,127,345 7,000 -300 -283,200 -309,000 72,650 -682,147.00 127,610

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS

latest NAVPS/NAVPU."

1.71 3.64 625 50.85 10 8.65 0.405 0.41 4.44 9.03 0.209 482.2 3.43 51.5 0.61 3.09 8.49 3.74 2.33 2.66 0.96 816.5 107 112 0.25

44.9 119.1 8.1 87.25 26.9 6.93 47.6 6.9 16.08 17.92 55.6 19.52 88.5 75.5 1.8 3.45 0.62 2.02 4.31 0.25 980 0.6 178

MINING & OIL ATOK 6.62 6.96 6.96 6.97 6.94 6.96 18,600 129,355 APEX MINING 1.45 1.46 1.44 1.47 1.44 1.46 1,084,000 1,573,400 ATLAS MINING 4.46 4.52 4.46 4.58 4.4 4.4 692,000 3,065,450 BENGUET A 5.47 5.5 5.5 5.5 5.5 5.5 8,000 44,000 CENTURY PEAK 2.6 2.73 2.73 2.73 2.73 2.73 10,000 27,300 DIZON MINES 3.8 4 3.8 3.8 3.8 3.8 1,000 3,800 FERRONICKEL 2.29 2.3 2.33 2.38 2.28 2.29 2,477,000 5,690,300 LEPANTO A 0.131 0.132 0.133 0.135 0.132 0.135 14,700,000 1,948,930 MANILA MINING A 0.0095 0.0096 0.0095 0.0096 0.0094 0.0096 18,000,000 170,100 MANILA MINING B 0.0094 0.0096 0.0095 0.0095 0.0095 0.0095 1,000,000 9,500 MARCVENTURES 1.32 1.35 1.4 1.44 1.3 1.34 2,119,000 2,819,510 NIHAO 0.91 0.93 0.92 0.92 0.9 0.9 55,000 50,060 5.58 5.59 5.67 5.73 5.55 5.6 2,001,700 11,224,900 NICKEL ASIA 0.7 0.72 0.7 0.7 0.7 0.7 30,000 21,000 ORNTL PENINSULA PX MINING 3.16 3.17 3.17 3.18 3.16 3.16 365,000 1,155,270 SEMIRARA MINING 37.7 37.8 38 39.25 37.3 38.5 12,552,200 483,918,500 0.0059 0.0063 0.0063 0.0063 0.0063 0.0063 1,000,000 6,300 UNITED PARAGON ACE ENEXOR 13.98 14 14.4 14.52 13.3 14 357,700 4,972,494 0.011 0.012 0.011 0.011 0.011 0.011 1,800,000 19,800 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 100,000 1,200 PHILODRILL 0.0084 0.0088 0.0087 0.0091 0.0082 0.009 35,000,000 299,300 5.65 5.69 5.8 5.9 5.5 5.75 423,100 2,380,389 PXP ENERGY PREFFERED CEB PREF 41.4 42 41.45 41.45 41.4 41.4 12,300 509,335 CPG PREF A 100 101.7 100 101.7 100 101.7 14,150 1,415,935 DD PREF 96.8 99 96.8 97 96.8 97 12,900 1,249,240 JFC PREF B 955 965 960 960 955 955 950 909,510 MWIDE PREF 4 98.5 98.9 98.5 99 98.5 99 150 14,800 PNX PREF 3B 100.1 100.4 100.4 100.4 100.4 100.4 10 1,004 PCOR PREF 3A 1,032 1,044 1,035 1,035 1,030 1,030 3,800 3,921,700 SMC PREF 2F 75.65 76 75.65 75.65 75.6 75.6 6,000 453,660 SMC PREF 2H 75 76.2 75 75 75 75 13,200 990,000 SMC PREF 2I 75.7 76.25 76.25 76.25 76.25 76.25 1,000 76,250 SMC PREF 2J 72.6 74 72.05 72.7 72.05 72.05 16,110 1,165,405.50 TECH PREF B2D 54 56 56 56 56 56 700 39,200 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 9.01 9.95 9.12 9.12 9 9 177,900 1,612,863 GMA HLDG PDR 10.9 11.38 10.92 10.92 10.9 10.9 34,500 376,370 WARRANTS TECH WARRANT 0.52 0.53 0.52 0.54 0.52 0.54 61,000 31,790

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

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

1.67 3.64 625 50 9.99 8.65 0.405 0.41 4.41 9 0.209 482.2 3.43 50.8 0.61 3.09 8.43 3.62 2.33 2.45 0.96 815 107 112 0.25

44.95 121.9 8.25 89.9 27.05 7.03 49.7 6.9 17.9 18.1 55.6 19.52 90.4 77.45 1.86 3.46 0.62 2.02 4.31 0.26 980 0.61 180.5

ARTHALAND CORP 0.55 0.59 0.55 0.59 0.55 0.59 15,000 8,450 ANCHOR LAND 5.92 7.54 7.54 7.54 7.54 7.54 100 754 AYALA LAND 24.5 24.55 25.3 25.3 24.35 24.4 23,302,000 574,358,345 AYALA LAND LOG 3.07 3.1 3.1 3.11 3.03 3.06 385,000 1,184,590 ALTUS PROP 13.06 13.96 13.12 13.12 13.06 13.06 13,000 169,936 ARANETA PROP 1.49 1.5 1.56 1.62 1.48 1.5 461,000 705,750 AREIT RT 37.1 37.2 36.9 37.45 36.8 37.1 2,214,300 81,975,115 A BROWN 0.73 0.77 0.73 0.77 0.73 0.77 10,000 7,660 CITYLAND DEVT 0.67 0.68 0.66 0.69 0.66 0.69 53,000 35,640 CROWN EQUITIES 0.083 0.085 0.087 0.087 0.083 0.085 210,000 17,490 CEB LANDMASTERS 2.48 2.49 2.48 2.5 2.47 2.49 181,000 451,310 CENTURY PROP 0.375 0.38 0.37 0.375 0.37 0.375 270,000 101,050 CITICORE RT 2.4 2.41 2.4 2.43 2.4 2.4 1,819,000 4,372,180 8.08 8.09 8.12 8.12 8.08 8.08 95,000 769,434 DOUBLEDRAGON 1.49 1.5 1.5 1.52 1.48 1.49 1,507,000 2,259,500 DDMP RT 6.8 6.83 6.86 6.86 6.8 6.8 20,000 136,255 DM WENCESLAO EMPIRE EAST 0.204 0.219 0.219 0.219 0.204 0.204 110,000 23,940 EVER GOTESCO 0.255 0.26 0.265 0.265 0.25 0.26 4,260,000 1,073,550 FILINVEST RT 6.79 6.8 6.79 6.8 6.78 6.8 306,200 2,081,438 0.87 0.88 0.87 0.88 0.87 0.87 585,000 510,730 FILINVEST LAND 10.1 10.4 10.1 10.4 10.04 10.4 21,600 218,388 8990 HLDG PHIL INFRADEV 1.04 1.05 1.05 1.08 1.03 1.03 598,000 625,980 0.71 0.72 0.72 0.73 0.71 0.71 157,000 113,150 CITY AND LAND 2.2 2.21 2.29 2.29 2.17 2.18 9,989,000 21,993,650 MEGAWORLD 0.176 0.18 0.182 0.182 0.171 0.171 2,750,000 486,750 MRC ALLIED MREIT RT 15.88 15.9 16 16.16 15.88 15.88 714,300 11,385,216 PHIL ESTATES 0.365 0.37 0.37 0.38 0.365 0.37 2,440,000 902,750 PRIMEX CORP 2.05 2.09 2.1 2.11 2.02 2.08 2,466,000 5,163,650 RL COMM RT 6.54 6.55 6.53 6.58 6.53 6.53 1,017,900 6,655,553 ROBINSONS LAND 16.68 16.72 17.14 17.44 16.62 17.44 1,221,800 20,910,656 PHIL REALTY 0.229 0.237 0.23 0.238 0.23 0.238 560,000 129,240 ROCKWELL 1.2 1.23 1.2 1.2 1.2 1.2 1,000 1,200 SHANG PROP 2.47 2.58 2.59 2.59 2.59 2.59 5,000 12,950 STA LUCIA LAND 2.91 3.05 3.05 3.05 3.05 3.05 5,000 15,250 SM PRIME HLDG 36.8 36.85 37.2 37.65 36.5 36.9 4,123,500 151,932,625 VISTA LAND 1.99 2 2.03 2.04 1.95 1.96 1,629,000 3,256,640 VISTAREIT RT 1.74 1.75 1.74 1.75 1.74 1.74 5,755,000 10,014,720 SERVICES ABS CBN 9.2 9.27 9.27 9.5 9 9.17 215,900 1,985,982 GMA NETWORK 10.78 10.8 11.12 11.14 10.72 10.72 1,223,600 13,277,062 MANILA BULLETIN 0.32 0.33 0.325 0.325 0.325 0.325 10,000 3,250 GLOBE TELECOM 2,242 2,244 2,252 2,270 2,234 2,250 34,560 77,704,690 PLDT 1,707 1,709 1,707 1,713 1,701 1,706 110,975 189,584,220 APOLLO GLOBAL 0.033 0.034 0.035 0.036 0.03 0.033 769,000,000 24,986,200 CONVERGE 21.5 21.6 21.75 21.9 21.45 21.85 6,516,800 141,322,695 DFNN INC 3.11 3.18 3.06 3.2 3.02 3.17 301,000 933,220 DITO CME HLDG 4.15 4.17 4.1 4.26 4.1 4.19 2,415,000 10,070,790 NOW CORP 1.14 1.15 1.16 1.16 1.13 1.16 1,018,000 1,167,580 TRANSPACIFIC BR 0.28 0.285 0.285 0.285 0.28 0.28 2,610,000 734,050 2GO GROUP 6.3 6.58 6.6 6.6 6.3 6.6 14,700 96,854 ASIAN TERMINALS 13.52 13.7 13.7 13.7 13.52 13.7 2,700 36,972 1.23 1.25 1.23 1.29 1.23 1.29 209,000 262,280 CHELSEA 41.4 41.5 41.6 41.9 41.4 41.4 24,000 995,600 CEBU AIR 182.2 182.4 185 185.1 180.6 182.8 1,831,290 334,128,913 INTL CONTAINER 19.62 20 20.05 20.05 19.62 19.62 1,900 37,835 LBC EXPRESS 0.56 0.62 0.53 0.64 0.52 0.56 50,000 27,360 LORENZO SHIPPNG 4.2 4.21 4.25 4.28 4.12 4.23 195,000 819,020 MACROASIA PAL HLDG 5.59 5.81 5.55 5.81 5.55 5.81 15,300 85,213 HARBOR STAR 1 1.01 1 1.03 1 1.03 609,000 615,750 1.35 1.71 1.36 1.36 1.36 1.36 20,000 27,200 ACESITE HOTEL BOULEVARD HLDG 0.089 0.09 0.092 0.093 0.089 0.09 24,640,000 2,226,920 0.43 0.475 0.43 0.43 0.43 0.43 20,000 8,600 WATERFRONT STI HLDG 0.33 0.34 0.33 0.33 0.33 0.33 1,040,000 343,200 BELLE CORP 1.17 1.19 1.19 1.19 1.18 1.18 121,000 142,790 BLOOMBERRY 5.95 5.97 5.93 6.09 5.93 5.95 1,491,300 8,876,523 PACIFIC ONLINE 1.43 1.51 1.5 1.51 1.44 1.51 13,000 19,150 LEISURE AND RES 1.39 1.4 1.42 1.42 1.39 1.4 3,767,000 5,302,300 PH RESORTS GRP 0.83 0.84 0.86 0.86 0.8 0.83 2,582,000 2,113,120 PREMIUM LEISURE 0.395 0.4 0.4 0.4 0.395 0.4 780,000 308,900 PHILWEB 3.97 3.99 4.13 4.2 3.95 4.02 3,573,000 14,464,130 ALLDAY 0.3 0.305 0.31 0.31 0.295 0.3 13,180,000 3,952,500 BERJAYA 5.62 6.1 5.62 6.1 5.62 6.1 1,100 6,230 ALLHOME 4.36 4.53 4.37 4.4 4.36 4.36 32,000 139,770 METRO RETAIL 1.45 1.46 1.45 1.46 1.45 1.45 602,000 873,000 PUREGOLD 31.15 31.25 31.5 31.9 30.95 31.05 416,000 12,997,660 53.15 53.2 53.5 53.5 52.5 53 859,430 45,560,028 ROBINSONS RTL 59.95 60 60 60 59.95 59.95 2,210 132,497.50 PHIL SEVEN CORP 1.26 1.27 1.31 1.33 1.23 1.24 4,975,000 6,330,190 SSI GROUP 22.95 23.1 23.9 23.9 22.55 23 2,935,600 68,065,015 WILCON DEPOT 3.88 4.1 3.88 3.88 3.88 3.88 3,000 11,640 EASYCALL IPM HLDG 6.3 6.97 6.4 6.45 6.3 6.3 5,000 31,925 MEDILINES 0.66 0.67 0.68 0.68 0.63 0.65 1,987,000 1,294,210 0.42 0.425 0.435 0.435 0.42 0.42 1,150,000 491,150 PRMIERE HORIZON

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the

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

44.9 121.9 8.25 89 26.9 7.03 49.7 6.9 16.1 17.92 55.6 19.52 90.4 77.45 1.86 3.46 0.62 2.02 4.31 0.26 980 0.61 180

PROPERTY

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

(NAVPU).

July 13, 2022

FIRST METRO ETF

0.67 0.93 0.92 0.73 1.24 0.29 96.4

0.69 0.94 0.96 0.74 1.25 0.31

96.5

0.68 0.95 0.91 0.75 1.26 0.315

0.71 0.96 0.96 0.75 1.26 0.315

0.68 0.92 0.91 0.72 1.22 0.31

0.7 0.95 0.96 0.72 1.26 0.31

6,527,000 4,724,000 32,000 129,000 1,096,000 140,000

4,506,700 4,422,500 30,540 94,050 1,354,490 44,000

29,120 -680 26,980 -1,820 -25,340 167,390 -

97.85 97.85 96 96.5 6,470 626,106 206,306

www.news.businessmirror@gmail.com

Banking&Finance

BOC-Port of Clark gives 6,357.8L of fuel to PCG By Bianca Cuaresma @BcuaresmaBM

HE Bureau of Customs (BOC)—Port of Clark announced on Wednesday that they have donated more than 6000 liters of fuel to the Philippine Coast Guard (PCG) earlier this week. In a statement, the BOC-Port of Clark said the donated 6,357.8 liters of “unmarked” diesel fuel is aimed at providing additional resources to support maritime operations in the country. The unmarked liters of fuel were seized by the Port of Clark in September last year through the implementation of a Letter of Authority (LOA) issued by Commissioner Rey Leonardo B. Guerrero. Subsequently, a decision was issued by the port declaring the shipment forfeited in favor of the government for violating Section 7 of a Joint Circular 001.2021 by the BOC, Department of Finance and Bureau of Internal Revenue prescribing the “Implementing Guidelines for Field Testing” under the fuel marking program. “Through the provisions of Re-

public Act 10863 otherwise known as the Customs Modernization and Tariff Act (CMTA) and with the approval of the Finance Secretary, the donation intends to assist the PCG in its maritime search and rescue, safety and security operations,” the BOC said. The turn-over was conducted at the Port of Clark compound. Task Unit One Stop Shop Subic Commander Coast Guard Lieutenant Junior Grade Eunica Marie C. Tomioka attended the turn-over on behalf of the PCG, while the BOC was represented by District Collector Alexandra Y. Lumontad. Also in attendance is Deputy Collector for Operations Jesus G. Llorando, Chief of Auction and Cargo Disposal Unit Eleazar B. Rabanes and representatives from Enforcement and Security Service (ESS) and Customs Intelligence and Investigation Service (CIIS). The BOC said that the BOC, under the leadership of Guerrero, “continues to support the public and the government by ensuring strict implementation of rules and regulations relative to the fulfillment of its mandates.”

briefs ➜ BPI Trust bags 3 major awards BPI Asset Management and Trust Corp. (BPI Trust), the wealth management arm of the Bank of the Philippine Islands (BPI), bagged three major awards at the recently concluded 13th Annual Alpha Southeast Asia Fund Management Awards 2022. Beating the largest fund houses in the Philippines, BPI Trust brought home its sixth trophy as the “Best Overall Asset & Fund Manager in the Philippines.” The company was also hailed as the Best Asset Manager for Money Market Funds, and Best Asset Manager for Equity and Fixed Income Funds. These awards come after it received recognition from the International Finance Awards as the Best Asset Manager in the Philippines. “These recognitions are a testament to BPI Trust’s strength and position in the investment space in the Philippines today. Amid a challenging investment landscape, these accolades inspire us to continue to do more by serving the investing public with the most innovative products, tools, and investment solutions to help them grow their wealth,” BPI Trust President and CEO Maria Theresa D. Marcial said in a statement.

➜ Standard Chartered Bank wins awards Standard Chartered Bank announced last July 13 it has been recognized for its achievements in transaction banking, capturing a total of 97 awards across its markets at The Asset Triple A Awards 2022, including the award for Best Service Provider E-Solutions for Philippines. The Asset Triple A Treasury, Trade, SSC (Sustainable Supply Chain) and Risk Management Awards are industry excellence recognition awarded annually to companies and financial institutions that have launched or helped implement initiatives in corporate treasury management, trade finance, supply chain and/or risk management. “This award highlights the bank’s commitment in rolling out digital capabilities with the aim of providing innovative solutions and services to support our clients’ digitalization efforts. We would like to take this opportunity to thank our clients for their continued trust,” KC Huang-Hernandez, Head of Transaction Banking, SCB Philippines, said.

➜ BPI Capital bags awards BPI Capital Corp. announced it was recognized as the Philippines’s leading investment bank in several categories by Haymarket Media Ltd. finance publication “FinanceAsia” magazine. BPI Capital, the investment banking arm of the Bank of the Philippine Islands, bagged the titles of “Best Investment Bank,” “Best DCM [Debt Capital Markets] House” and “Best ECM [Equity Capital Markets] House” in the “FinanceAsia Country Awards” 2022. “Our exceptional and comprehensive suite of capabilities allowed us to execute breakthrough transactions that have been recognized both locally and internationally,” BPI Capital President Rhoda A. Alonso-Huang was quoted in the lender’s statement as saying. As the “Best Investment Bank,” BPI Capital’s transactions over the past year have served clients in various sectors, including but not limited to aviation, construction materials, real-estate, renewable energy and consumer goods.

BusinessMirror

Editor: Dennis D. Estopace • Thursday, July 14, 2022

BSP under fire from senator over ₧1,000 polymer notes

By Butch Fernandez

@butchfBM

HE Bangko Sentral ng Pilipinas (BSP) came under fire from Senator Aquilino Martin “Koko” dL. Pimentel III for issuing “impractical P1,000 bill polymer notes.” Citing mounting complaints about its practical use as a legal tender, Pimentel prodded the BSP to “shut down production and stop issuing” the controversial P1,000 polymer banknotes. The senator filed a resolution paving the way for a Senate inquiry into “the BSP’s inclination to constantly change banknotes and coins at the expense of Filipino taxpayers.” For a start, Pimentel pointed out the BSP’s decision to “use polymer instead of the indigenous abaca (also known as Manila hemp) in its new P1,000 bills.” He noted that the decision is not only detrimental to the livelihood of local abaca producers but is also “very impractical to many

Filipinos who are used to storing their bills on their pockets, purses or their trifold wallets.” Moreover, the administration lawmaker laments in a statement that “the issuance of these polymer bills to replace our old banknotes is absolutely absurd.” “Our bills should be designed in such a way that they can withstand a minimum amount of abuse like crumpling and folding,” he stressed, adding: “Parang gusto pa yata nila ilagay sa frame yung bills para kunwari matibay.” [It seems they want to put the bills in a frame to make them appear strong.] The Senator suggested that the BSP “should suspend the production of these banknotes as soon as

possible.” Pimentel also pointed out that while polymers are supposed to be sturdier than abaca, it doesn’t have the needed flexibility to allow people to safely store their bills in their pockets, purses, money clips, or even small wallets, warning that polymers are also “very sensitive to chemicals.” Moreover, he noted additional concerns over replacing the abaca as a material for producing the P1,000 banknotes could impact negatively on the country’s $97.1-million per year abaca industry. The figure represents exports of abaca fiber and manufactures. For its part, the Department of Agriculture affirmed the Philippines dominates the global abaca trade as the country supplies about 87.5 percent of the world’s abaca fiber requirements with Ecuador and Costa Rica the remaining 12.5 percent as of 2016. In 2016, abaca was planted on 180,302 hectares (ha) with production reaching 72,000 metric tons (MT). At the same time, Pimentel also questioned BSP’s “rather arbitrary and hasty changes in our monetary design for the purpose of crafting

legislation on this matter.” In filing a resolution on the issue, the lawmaker said there is a need to find out the answers to several questions he has whenever the BSP changes the design of our coins and notes. n Who else or what other agencies or offices are involved or consulted whenever a decision changing the monetary design of the Philippine Peso is made by the BSP? n How much is the cost to the Filipino taxpayers whenever banknotes and coinage designs are changed? n What were the problems encountered by the BSP when the New Design Series was demonetized? n Whether or not there have been complaints from the public? n What are the reasons behind the BSP’s decision to change the current P1,000 banknote, said to be the most difficult to counterfeit, to be “improved” by the new P1,000 polymer note? n Whether or not the new P1,000 polymer note is truly a “limited series” considering that the BSP announced that around 500 million copies of this new polymer note, or P500 billion in total worth, will be printed?

Oil gains as volatility grips market before inflation data

IL climbed after sliding below $100 a barrel on Tuesday as choppy trading gripped the market before a US-inflation print. West Texas Intermediate rose almost 1 percent last Wednesday after tumbling 7.9 percent in the previous session to close at a three-month low. US inflation data for June is due Wednesday and economists project that it surged again, keeping the Federal Reserve geared for another big interest-rate hike. Oil has given up the gains seen in the wake of Russia’s invasion of Ukraine, which drove the US benchmark above $130 a barrel in March. Crude prices pose a high risk to global economic recovery, with signs that fuel costs are starting to “take their toll” on demand growth, according to a monthly report from the International Energy Agency. The market is wrestling with “short-term downward risks due to recession fears, versus the longerterm issues with underinvestments,” Hans Van Cleef, a senior energy economist at ABN Amro, said. Concerns over an economic slowdown have overshadowed tight physical crude markets. OPEC’s first outlook for 2023 suggests that there will be no relief for squeezed consumers, with more oil needed from the group even though most members are already pumping flat out. US President Joe Biden has repeatedly called on OPEC to pump more and is scheduled to visit Saudi Arabia this week during a tour of the Middle East. The kingdom along with the United Arab Emirates are the only cartel members with significant volumes of unused production capacity.

This June 7, 2022, photo shows a man working on a pipeline in Estonia. Last Tuesday, the price of oil climbed after the market was gripped with volatility before the US announced inflation data.

Prices

WTI for August delivery rose 0.8 percent to $96.61 a barrel at 10:29 a.m. in London after sliding as much as 2.3 percent earlier. Brent for September settlement gained 0.9 percent to $100.39. The American Petroleum Institute reported that US crude stockpiles rose by 4.76 million barrels last week, according to people familiar with the

figures. The Energy Information Administration will report data on Wednesday. China’s exports expanded at a faster pace than expected in June as Covid disruptions continued to ease, though concerns about virus outbreaks remain. Some residents in Shanghai have been urged to stockpile food and medicines as the fear of returning to lockdown hangs over the city. Bloomberg News

Judge OKs serving legal documents over blockchain

N Britain, you can now use the blockchain to sue someone. A UK judge gave the goahead to serve legal documents— the process of bringing a lawsuit to a person’s attention—over the blockchain ledger by a nonfungible token for the first time, according to court documents made public this week.

An NFT is a line of code on the blockchain that confirms unique certificates of authenticity. They’re typically used to prove ownership of a piece of digital art. The ruling comes from a case brought by Fabr izio D’A loia, founder of an online gambling company, who’s suing cryptocurrency exchange Binance Holdings

and other platforms. D’Aloia filed the claim after his crypto assets were fraudulently cloned on the brokerages. The court also ruled that the exchanges were responsible for ensuring stolen crypto is not moved or taken out of their systems. T he ser v ice w i l l now ta ke place by airdropping the lawsuit

documents via NFT into two wallets that were originally used by D’Aloia and stolen by the fraudsters. This paves the way for victims of crypto fraud to sue unknown crooks in the UK, law firm Giambrone & Partners LLP said. A US court made a similar move to authorize service via an NFT in June. Bloomberg News

Social Security System receives unmodified opinion from COA for second year

HE Commission on Audit (COA) rendered an unmodified opinion on the fairness of presentation of the financial statements of the Social Security System (SSS) for the year 2021, the state-run pension fund manager announced. “In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the SSS as of December 31, 2021 and 2020, and its financial performance and its cash flows for the years then ended in accordance with Philippine Finan-

cial Reporting Standards (PFRSs),” COA’s report was quoted in the SSS statement. This is the second year in a row that the SSS received an unmodified opinion from COA. It is issued when the auditor concludes that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework. SSS President and CEO Michael G. Regino was quoted in the statement as saying the back-to-back unmodified opinions from the COA “serves

as a testament to our continuous pursuit of good governance and transparent and prudent management of the SSS Fund.” Under its financial statements, SSS’s income for 2021 increased by 7.4 percent to P276.33 billion from P257.24 billion in 2020. Its benefit payments grew by 14.9 percent to P223.98 billion in 2021 from P194.87 billion in 2020. Its operating expenses for 2021 amounted to P10.19 billion, which is only 33.6 percent of the allowed charter limit.

Since the fiscal year 2020, the SSS used PFRS 4 to present its financial statements, where Social Benefit Liabilities (SBLs) are required to be presented in the balance sheets. For its 2021 financial statements, the SSS recorded an P872.36 billion net change in policy reserves under its expenses representing SBLs, including a Margin for Adverse Deviation that serves as a buffer for conservatism. These, however, are not actual cash that went out of the SSS Fund in 2021 but estimates of the required reserves to fund future

benefit claims. Excluding the said policy reserves, the SSS recognized a net profit of P28.45 billion for 2021. The SSS also reported that based on its last published actuarial valuation, its fund life is projected to last until 2054. Furthermore, the SSS reached and exceeded its targets for the said year in terms of sustaining the viability of the social security institution (increase in per capita fund); benefit adequacy (increase in the number of contributors and amount of aver-

age monthly salary credit); ensuring progressively higher levels of social security protection for Filipino workers and their families (increase in average pension); institutionalizing a robust ICT system and infrastructure to support transformative digitalization; among others. “We remain dedicated to improving the lives of our members and their beneficiaries by providing them with meaningful social security protection through a culture of excellence in financial and operational management,” Regino said.

Envoys&Expats BusinessMirror

Thursday, July 14, 2022

Bangladesh bats for boosted business environment with PHL

OR the Bangladeshi envoy to the Philippines, local businesses and those from his country should maximize the benefits of a huge, combined consumers’ market of 270 million people.

AMBASSADOR F. M. Borhan Uddin EMBASSY OF BANGLADESH

With focus on the present state of investments and trade, Ambassador F. M. Borhan Uddin mentioned in a June 24 business seminar that the volume of two-way trade between Bangladesh and the Philippines was $124 million. Although the volume was “not satisfactory after 50 years,” he was quite impressed with the growth of mutual trade in the last decade. He also mentioned that the mobilization of capital and goods between the two markets might bring about remarkable breakthroughs, while pointing out the necessity of joint study on increasing bilateral trade and investments. “The two countries,” Uddin said, “should make their future plans of action to further diversify cooperation on the basis of the achievements they made in the last 50 years.” As such, he gave more weight on intensifying people-to-people contacts. For him, the frequency of bilateral visits at the government and privatesector level needs to be increased, and that exchanges among their business leaders have to be intensified to bring about tangible changes in trade and investment.

Highlighting the commonalities on many issues, including climate change, he said both Bangladesh and the Philippines were climatevulnerable countries, and they could work together to achieve their common goals. The ambassador referred to the tremendous development in various sectors in Bangladesh under the leadership of Prime Minister Sheikh Hasina. They cover businesses on ready-made garments, pharmaceuticals, ceramics, plastics, glass fiber, shipbuilding, jutes, agricultural products, and processed food, then also cited mega projects undertaken by his government. The Embassy of Bangladesh in Manila organized with the Philippine Chamber of Commerce and Industry (PCCI) the “Prospects of Bilateral Trade and Investment between Bangladesh and the Philippines” seminar, where around 60 business leaders participated—including those from the PCCI, representatives from Filipino companies, those from the local Bangladesh business community, and the media. Uddin thanked the PCCI and the Department of Foreign Affairs (DFA)

for their support in organizing the seminar. He said Bangladesh and the Philippines “have completed 50 years of diplomatic relations in February 2022, and the embassy has [undertaken a number of programs… to mark the golden jubilee of their] bilateral ties.”

Philippine response

CITING the depth of fraternity between the two countries, Foreign Affairs Assistant Secretary Nathaniel Imperial thanked the embassy for organizing the business seminar, and Uddin for inviting him to speak. The DFA official touched on the establishment of Bangladesh’s Telsu Inc. in Baguio in 2017, and the Philippines’s Liwayway Corp. in Gazipur in 2019, as both firms opened doors for the two countries’ mutual investments. He expressed hopes that in the coming years, there would be more interaction between the two countries’ private sectors through their respective chambers. He also anticipates that the seminar would pave the way for closer economic cooperation, as well as trade and investment.

Imperial also expects the opening of the new Bangladesh Honorary Consulate in Cebu will help spur investments and people engagements in the Visayas. As the pandemic and current geopolitical developments have further highlighted the importance of food and health security, the assistant secretary projects that the event will usher opportunities for both the countries to explore increasingly vital areas of cooperation, namely the agriculture and health sectors, which comprised the main topic of discussions during Uddin’s recent courtesy call on President Ferdinand Marcos Jr. Imperial mentioned that the Philippines was one of the first Southeast Asian countries that recognized Bangladesh’s statehood in February 1972. Meanwhile, PCCI’s International Committee Chair Jude Aguilar acknowledged the “good opportunity to increase trade and investments between Bangladesh and the Philippines,” as he proposed to enhance cooperation of their business leaders, with a particular emphasis on the formation of a business council. The comparative analysis and main features of mutual relations, dynamic sectors of Bangladesh, factors for foreign investments in the South Asian country, and avenues for future collaborations between the two countries were highlighted. After the presentation, a question-and-answer session took place, where the guests shared their views about the investment opportunities in both countries.

Embassy in The Hague launches 2nd book marking PHL-Netherlands relations Year 70

HE HAGUE—The Philippine Embassy in The Hague launched on July 7 the book Philippines-Netherlands Connections @70: Reconstructing History and Forging Ahead—a transcription of presentations delivered at the webinar held on November 9 to 10, 2021 which commemorated the 70th anniversary of diplomatic ties spanning both nations. “The book provides a valuable survey of the key aspects of the bilateral relations: from the policy and political to the economic and business, as well as cultural and historical underpinnings,” Ambassador to the Netherlands J. Eduardo Malaya wrote in his foreword. The embassy organized the webinar, in partnership with the Embassy of the Netherlands in the Philippines, Ateneo de Manila University (ADMU), and the Philippine Foreign Service Institute. The first chapter, “PH-Netherlands/EU Relations: Forging Ahead,” contains remarks by former secretary of foreign affairs Teodoro L.

THE book Philippines-Netherlands Connections @70: Reconstructing History and Forging Ahead. THE HAGUE PE

Locsin Jr. on foreign policy priorities of the Philippines vis-à-vis the Netherlands, particularly on reenergizing relations through new areas of cooperation, as well as the Netherlands’ Ministry of Foreign Affairs (NL MFA) Secretary General Paul Huijts’ message on the EU’s Indo-Pacific Strategy, and the latter’s effect on the future of both countries’ ties.

It also features the papers presented by key officials of both governments, private organizations and members of the academe who are experts in the fields of political, economic, business and agricultural cooperation; namely, Director Karin Mossenlechner (NL MFA Department of Asia and Oceania); Prof. Alvin Ang (ADMU); Mitchel Smolders (Dutch Chamber of Commerce in the Philippines executive director); Albert Bos (consul general a.h., Rotterdam); Mary Ann Sayoc (Philippine Seed Industry Association); and Richard van der Maden (Agriterra). The second chapter, “Reconstructing Historical Ties,” focuses on the significant role of history in the relations, particularly on people-to-people interaction which began 400 years ago. It presents the papers of noted scholars, namely historian Prof. Ambeth Ocampo, Prof. Ruurdje Laarhoven who is a Dutch expert on Southeast Asian History, and Gerard Arp who translated into Dutch Rizal’s novels Noli

Me Tangere (“Raak Me Niet Aan”) and El Filibusterismo (“De Revolutie: Een Filipijnse Roman”). “As diplomats in the Philippines and in the Netherlands, we are jointly [creating] tangible conditions by which our companies and our people can strive in the wide variety of sectors that underpin our relations,” wrote the Netherlands’ Ambassador Saskia De Lang. “It’s a very noble endeavor, and it takes two to tango. It’s only by joining forces that we can succeed, as demonstrated by the 70 years that are behind us.” The book, according to the embassy in the Hague, is a useful reference for diplomatic and government officials, the business, agriculture and other sectors, and all others who are interested in the dynamic relations between the two countries. It is the twin resource to last year’s publication: Crossroads: A Compendium of Agreements between the Philippines and The Netherlands, 1951 to 2021. An electronic copy can be downloaded via https://bit. ly/3Ox3XJD.

PHL contributes to Tonga relief

ANBERRA—Ambassador to Australia Ma. Hellen B. De La Vega turned-over to Princess Angelika Latufuipeka Tuku’aho, high commissioner of Tonga in Australia, the contribution of the Philippines to the Fakalikutonga Recovery Fund amounting to $10,000 in simple rites held at the Embassy of the Philippines in Canberra in June. The contribution of the Philippine government to the Fakalikutonga Recovery Fund represents the solidarity of the Filipino people with the people of Tonga, as the latter recovers from the disaster. The fund was es-

tablished in response to the devastation caused by the volcanic eruption and tsunami in Tonga in January. As a country prone to natural disasters, the Philippines strives to further improve its disaster-recovery and resilience mechanisms. Like other Pacific Island countries, it views climate change as a major security challenge and thus, is committed to global efforts to reduce emissions and address its impact. During the ceremony, Princess Tuku’aho presented a note of appreciation from the government of Tonga to de la Vega.

LEFT photo: Ambassador Ma. Hellen B. De La Vega with Princess Angelika Latufuipeka Tuku’aho. Right photo: Tuku’aho presents Tonga’s note of appreciation for the Philippines’s aid to the Fakalikutonga Recovery Fund. CANBERRA PE/DFA

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Japan-funded walk-in cold-storage system inaugurated in Batangas

MINISTER Masahiro Nakata (left) and Governor Hermilando Mandanas at the opening ceremonies. JAPANESE EMBASSY

INISTER for Economic Affairs Masahiro Nakata, together with United Nations Children’s Fund (UNICEF)Philippines Deputy Representative Thomas Meyerer, led the inauguration and turnover ceremonies of Batangas City’s first walk-in coldstorage system on July 4. Nakata stated that cold-storage systems are extremely significant, as without proper cold storage, vaccines will lose their efficacy and lead to wastage. “With the threat of another increase in Covid cases forecasted in the coming weeks, it is more imperative that the cold-chain system is in place to ensure that the vaccination roll-out in Batangas will finally move forward to full implementation,” he said. This adds another critical step in the province’s fight versus this pandemic.”

The minister assured “that under the Marcos administration, Japan remains committed to provide unwavering support to the Philippines.” UNICEF donated a walk-in coldstorage unit, a component of the P36million worth of cold-chain equipment that arrived late last year. It is part of the Japanese government’s P190-million assistance for its Philippine counterpart’s pandemicimmunization response. The cold-storage system includes walk-in cold and freezer rooms, freezers, refrigerators, generators and temperature-monitoring devices, among others. For many years, the government of Japan has had a deeply rooted partnership with UNICEF in improving the well-being of Filipino children and their families, most particularly those affected by conflicts and natural disasters.

UNDP extends support to women, local govts in ‘Odette’-hit regions

NEW sewing machines donated by UNDP to Del Carmen in Siargao. UNDP

HE United Nations Development Programme (UNDP) in the Philippines has extended assistance worth P9.9 million to areas affected by Typhoon Odette (international name Rai), as long-term recovery remains underway. Convertible tents were delivered to the Province of Dinagat Islands and the municipalities of Del Carmen and Burgos in Siargao. Each of the 40-square-meter tents include a heavy-duty air-conditioned unit, tables, chairs, drilling machine, an electric fence, and an external camp light, which are necessary equipment for makeshift temporary operation centers. The provinces of Dinagat Islands and Surigao del Norte, where Siargao is part of, were among the worst-hit areas by Typhoon Odette in December 2021. The typhoon caused huge damages not only to livelihood, but to infrastructure as well. Dinagat Islands and the local government unit of Del Carmen will use the tent as a temporary office to augment the space of regular operation the frontline services post-disaster. In the municipality of Burgos, the local government unit (LGU) used one of the convertible tents and set up a temporary birthing facility with four beds, as renovation of other facilities continues.

In addition to the tents, the women’s livelihood center in Del Carmen, Siargao received 10 units of various types of sewing machines to replace the ones that were damaged when the typhoon hit the island. Women members of the livelihood center were involved in the production of eco bags and reusable face masks as additional sources of income prior to the onslaught of Typhoon Odette. With new sewing machines, the Del Carmen LGU, in partnership with the Siargao State College and Technology, plans to hold a series of enterprise-planning and capacity-building activities to diversify the garments the livelihood center can sell and produce, which will directly benefit 40 women and their families. “As the Philippines is among the most vulnerable countries to climate-related disasters, our support needs to be framed with long-term resilience in foresight,” said Edwine Carrie, UNDP Philippines officer in charge. “Alongside the equipment and tools we provided to partners, we want to build more resilient communities by increasing their capacities in disaster-risk reduction and creating diverse livelihood options, so that they are more prepared to face future risks.”

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Parentlife BusinessMirror

Editor: Gerard S. Ramos

• Thursday, July 14, 2022

My post-pandemic back-to-school guide: Building your child’s confidence

REALIZED our family discovered many challenges during the pandemic, like prolonged distance learning and the absence of social support. But we also discovered many good things. Last week I shared what I learned about the importance and effective methods of family communication. We tried a lot of them during the pandemic. This week, I want to share my learnings on how important a strong self-image is to kids today. I feel this is the most volatile, yet the most important. I have often been asked by parents how they can protect their children from bullying. I would share the story of building the 21st century skill of confidence early on. I love engaging my children in “self-building” activities, which includes “content” or subject learning like math, enrichment activities, like sports and play. I never aimed for my kids to be at the top of their class. I see the importance of academics as a way for our kids to experience the result of their effort. So, my goal instead is to make learning, not studying, fun and meaningful for them. Sports is also a great self-image booster. Meagan started with basketball as her sport of choice. She built great confidence as she put in extra work on top of varsity practices with Coach Paolo Rivero. Her coach posted on Instagram that “...she is one of the most #Hardworking athlete I’ve ever trained,” when Meagan was 11. “Play” is a big part in how I help my children build their confidence. Marcus did a lot of Lego sets when he was nine. During the pandemic, our family did a lot of puzzles together. As children see their own capabilities developing through these activities, I believe they can literally and figuratively step in school with a stronger sense of self. They can also see

beyond the pressure of body image, knowing they have more meaningful things going for them. As kids are about to go back to in-person school or hybrid learning, I believe we need to prepare them to face the post-pandemic school environment, especially with regard to their peers. Below are three great learnings and tips I learned from the book A Mind of Their Own: Building Your Child’s Emotional

Wellbeing in a Post-Pandemic World by Katherine Hill: 1. “IT’S OKAY TO BE ORDINARY.” According to the book, some of the pressures on young people to be extraordinary come from the fact that culture has framed an ordinary life as dull and unfulfilling. It challenges us that as parents, we have the opportunity to step in and change that narrative. It advises that we can help our children to recognize that ordinary

The stuff that makes living a breeze

Homegrown brands, businesses take the spotlight WITH micro, small and medium enterprises (MSMEs) actually making up 99.5 percent of business establishments in the Philippines (according to the DTI), it’s high time they get the shine they deserve. Popular leisure destination Shangri-La Plaza is leading the way in celebrating these homegrown brands with the month-long “Bayanihang Lokal.” A staunch and longtime supporter of proudlyFilipino enterprises and products, Shang is firing up the bayanihan spirit and lining up a series of bazaars that promote high quality local goods from different regions for the entire MSME Month this July. After kicking off the month-long festivities with a showcase of businesses from the Bicol region and Metro Manila, the buzz continues with the focus now on Rizal Province. While it may be most known for its rich local arts scene, the Tindahang Rizalenyo fair is determined to present a new gamut of innovative and quality products solely manufactured in the province. The local lifestyle store will be at the Shang from July 14 to 17 at the East Atrium to showcase Rizal-made eats and treats, as well as fashion and art pieces. Looking for something to spruce up personal spaces? The Urban Pod Bazaar from July 20 to 24 at the Grand Atrium encourages mall guests to discover and shop unique local finds, interior accessories, and novelty items to help with a mid-year mini revamp. There’s no better time to ignite that bayanihan spirit than now. Show love for and support all things local at Shangri-La Plaza’s ongoing Bayanihang Lokal. More information is available at www.facebook.com/ shangrilaplazaofficial.

WHETHER at home, at the office, or on the road, gadgets have made our lives easier, more convenient, and even happier—as in the case of home entertainment—through the most creative of innovations and the most advanced technology. The good news for SM Appliance customers is that not only can they shop for the latest gadget finds, but also they have a chance to win exciting prizes in its Gadgets Everyday Raffle Promo, ongoing until July 31. Create a smart home with LG Stylers that refresh and sanitize garments by reducing allergens for clothes, pillow and more in minutes, keeping you fresh and hygienic. There are also energy saving Samsung inverter washing machines that can customize washing habits with automatic selection drying course with AI Control technology. Cooking your family’s heart-healthy favorite recipes is also made faster and more efficient with the highperformance Beko Range with specially-designed burners and multifunctional oven. At your home entertainment center, upgrade your movie nights to an ultimate cinematic experience

with the Samsung The Serif TV’s elegant white frame, QLED technology and smart features that elevate streaming standards. Meanwhile, the ultimate cinematic experience happens at home with Samsung The Premiere TV Projector with an elegant minimized design and builtin speaker. This is not only space saving, but uses a triple laser light source for a dramatic home cinema viewing that’s just like being in a theater. Now is the best time to shop for your favorite gadgets and appliances with SM Appliance’s Gadgets Everyday Raffle Promo. Every P1000 single receipt of purchase at SM Appliance branches or online channel at www. smappliance.com or ShopSM at www.shopsm. com/collections/sm-appliance brings shoppers one e-raffle entry. Sixty lucky winners will bring home amazing Samsung gadgets and more. All winners will receive KonsultaMD vouchers to access 24/7 online health consultations; Grab vouchers, Globe at Home Prepaid WiFi with 10GB load bundled with one-year Discovery+ subscription.

life is not about settling for boring second-best; it is about embracing reality and making the most out of every opportunity and becoming the best they can be. It provides tips like giving specific praise to specific actions instead of giving a general comment; or using birthdays to celebrate “them” and not what they have done or giving them something to work towards. I like how the book encourages to praise not just success or achievement but also good qualities like kindness. 2. “YOU CAN’T DO IT YET.” I like the reference to the research of psychologist Carol Dweck which has shown that “how our children approach to learning has a direct impact on what they are able to achieve and can therefore affect their confidence and mental well-being.” I was reaffirmed that adopting her “growth mindset” approach all these years allowed my kids to “propel them into learning and growth.” This mindset allows children to see that success is a result of their effort and perseverance, and the talents they are given are just a “springboard to endless possibilities of growth.” According to Dweck, children with a fixed mindset believe that our ability is predetermined, that everyone is born with a fixed amount of talent that cannot be changed. She explains that this can give way to the mindset that if you’re rubbish at something, nothing you do can change that, or that if you are good at something, success is guaranteed. Thus, those with a fixed mindset view every challenge as an opportunity to show off their strengths. 3. “IT’S OK TO FEEL.” I like this portion because it guides me on how to help my child manage failure. This is not easy because our natural parental instincts is to protect our children. I have learned through the years with my 16- and 12-year-olds that the first step toward this is for parents to disassociate themselves from their child’s success or failure. My kids never started out as honor students. When they started in the big school, I worked with them on their learning process. When they receive their grades, I asked them how they felt about it. I would set goal-setting sessions before the start of the school year and ask them what they wanted to aim for in the coming school year. It can be as simple as better handwriting, or as ambitious as getting multiple subject awards. Next week, I will share how I augment academic work with play, and how this has developed my children’s confidence. ■

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MY 11-year-old Meagan being trained by coach Paolo Rivero of Athlete’s Den at her basketball stage.

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THIS innovative LG Inverter Styler sanitizes clothes up to 99.9 percent.

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THE Beko Range (FVR62630DXDTL) features four special burners and a multifunctional oven for a faster and more efficient cooking experience.

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Predictable and consistent parental behavior is key for optimal child brain development SCIENTISTS have long known that the experiences you have during infancy and childhood play an important role in shaping how your brain matures and how you behave as an adult. But figuring out why this happens has been difficult. Over the past 15 years, my team and I have been studying child brain development to identify what aspects of early life experiences affect brain maturation. In our recently published paper summarizing our findings across multiple studies in animals and people, we found that unpredictable or inconsistent parental behavior can disrupt the development of a child’s emotional brain circuits. This can lead to an increased risk of mental illness and substance abuse later on in the child’s life. ■ PREDICTABILITY AND CONSISTENCY. To tackle the challenge of figuring out what signals affect how the brain’s emotional systems develop, we took cues from how the brain’s sensory systems, like vision and hearing, develop. Environmental signals are important to sensory development. For example, if an infant is unable to

see adequately because of a severe lazy eye, they may develop lifelong vision deficits. Similarly, an infant who is unable to make out the patterns and sequences of everyday sound due to frequent ear infections may develop lifelong hearing problems. Because parents are often the primary source of the information an infant and young child receives from their environment, we thought it would be reasonable to assume that parental signals would be crucial to brain development. Previous research over the decades have found that a caretaker’s behaviors and how responsive they were to their child’s needs were important to the child’s emotional growth. An absence of responses, such as from neglect, was associated with increased risk for emotional problems later in life. While many studies have focused on the effects of “positive” or “negative” parental behaviors on child brain development, researchers have paid little attention to patterns of behavior, or a parent’s predictability and consistency. A parent who is predictable and consistent is one who reacts to new situations,

such as when their child has a mild fall or asks for a new toy, in the same way. In the long term, predictability also means that a child knows who will pick them up from school and when they can expect lunch, dinner or bedtime. We first conducted our studies in mice and rats to be able to control how the mothers behaved toward their pups by limiting the amount of material available in the environment for nest building, altering their activity patterns toward their offspring. We then conducted studies in people, observing how mothers behaved in structured play sessions and how the patterns of their actions influenced the emotional and cognitive development of their children. To quantify maternal behaviors in these sessions, we measured the degree that one behavior predicted the next. For example, how likely a mother was to speak to and show her child a toy was a good predictor of how often she would pick her child up. We also controlled for other aspects of parenting and environment, such as socioeconomic status. We assessed child

and pup development by administering cognitive and emotional tests, as well as behavioral questionnaires for the children. Across all our animal and human studies, we found that predictable parental behavior patterns led to better emotional and cognitive functioning in their children later in life. While our studies have focused primarily on mothers, it is very likely that the same principles apply to fathers, as well. ■ NURTURING YOUR CHILD’S BRAIN GROWTH. Our findings suggest it’s not just “positive” or “negative” parenting that affects a child’s development. It’s just as important for a child’s emotional brain development that their parents nurture them in predictable and consistent ways. There are many adversities beyond a parent’s control that can impact their developing a child, such as poverty, war and migration. However, being aware of the role that predictable and consistent behavior plays in brain development can help parents create an optimal environment for their child as they grow emotionally. THE CONVERSATION

B6 Thursday, July 14, 2022

Skin Oasys: A new skincare line for all your skin needs

Go Negosyo and DTI discuss future MSME promotion and development

O NEGOSYO founder Joey Concepcion recently paid a courtesy call to Department of Trade and Industry (DTI) Secretary Alfredo Pascual. In the meeting Concepcion discussed with Sec. Pascual the continuation of the non-profit’s partnerships with the DTI and possible collaborations to further promote the development of MSMEs. Concepcion, who also serves as the Vice Chair of the Micro, Small and Medium Enterprises Development Council, discussed with Sec. Pascual the role of digital transformation as an enabler for MSMEs, as well as the digital alliance established by Go Negosyo in 2019 and how it aims to teach MSMEs to use digital tools. Also on the agenda was the continuation of the ASEAN Mentorship for Entrepreneurship Network (AMEN) Project, which was recently awarded a

US$333,943 grant from the Japan-ASEAN Integration Fund. This brings the legacy project of the ASEAN Business Advisory Council (BAC)–Philippines to its second phase, wherein small entrepreneurs can scale up to the regional level, and the network of mentors is increased and expanded. “It is a great leap forward for the mentorship advocacy started by Go Negosyo,” said Concepcion. Concepcion also shared Go Negosyo’s initiatives during the pandemic to keep the economy open and help MSMEs recover. For his part, Sec. Pascual expressed his desire to see and ensure that, during his term, more MSMEs will grow from micro to small, from small to medium, and, eventually, to become large enterprises. “The health and welfare of our MSMEs will be crucial to the recovery of the Philippines from the pandemic,” Concepcion said. “MSMEs are more

than 99 percent of the business establishments in the country,” he said. “On their continued operation rests the employment of 62.5 percent of Filipinos,” he said. DTI has been instrumental in facilitating Go Negosyo’s programs, foremost of which is Kapatid Mentor Me (KMME), which has been responsible for mentoring more than 11,000 entrepreneurs all over the country since it began in 2016. Even during the pandemic the mentoring programs continued online using social media platforms. Go Negosyo’s mentoring programs serve active entrepreneurs who are looking to scale up their businesses, and aspiring entrepreneurs who wish to begin their journey into entrepreneurship. Go Negosyo helps promote entrepreneurship among Filipinos by building on the three pillars necessary for success: money, markets and mentorship.

GO NEGOSYO FOUNDER AND PRESIDENT JOEY CONCEPCION AND DEPARTMENT OF TRADE AND INDUSTRY SECRETARY ALFREDO PASCUAL (CENTER) AT THE MEETING LAST JULY 11 AT THE DTI. WITH THEM ARE, FROM LEFT: Go Negosyo’s Executive Director Thermina Akram and Senior Adviser for MSME Development Engr. Merly Cruz, DTI OIC Director for BSMED Emma Asusano, and Undersecretary Blesila Lantayona of the Regional Operations Group.

Investree Philippines bolsters financial inclusion efforts for SMEs with ‘2gether Towards the Future’ campaign

NVESTREE, the Philippines’ pioneer crowdfunding intermediary and funding platform, celebrates its second anniversary with the launch of the 2gether Towards the Future campaign to uplift the nation’s SME sector. A venture of F(DEV) Digital Innovations and Ventures, Inc. and Investree Singapore Pte Ltd, Investree Philippines is geared towards building a financially inclusive future for Pinoy SMEs. Toward this end, it aims to focus on enhancing the entrepreneurial journey of SMEs by forging stronger government and industry partnerships locally. “This year’s anniversary theme is focused on building the future. That future is a financially inclusive Philippines, where financial tools are more accessible to SMEs in order to sustain and expand their businesses. We strive to preserve the company’s agile growth to keep us equipped in pursuing this vision of the

future. We are excited even more with the milestones we’ve achieved thus far, and we use these to empower us to forge ahead to reach our goals in uplifting the country, most especially SMEs,” shares Investree Philippines Country Manager Alexander Capulong. Since its 2020 launch, Investree Philippines has been providing innovative, transparent, and viable financing solutions to local businesses through collaborative opportunities with investors. Making concrete efforts in bridging the financial gap and spurring growth among small and medium enterprises (SMEs) in the country, the company has served more than 100 SMEs and funded over 400 notes as of June 2022. After securing its SEC-granted permanent license earlier this year, Investree Philippines is now looking to expand its partnership with the Department of Trade and Industry (DTI) in pursuit of

INVESTREE Philippines encourages Pinoy SMEs to ensure smooth business operations with a trusted and reliable partner. Visit www.investree.ph/sign-in, easily register, and start your business growth journey via mobile.

their shared mission of providing SMEs with better access to finance, technology and innovation. In the coming months, Investree Philippines and DTI will work hand-in-hand in organizing educational campaigns through social media content, webinars and events featuring relevant industry or entrepreneurial topics. In further amplification of its digital financial literacy efforts, Investree Philippines proudly joins hands with Asian Institute of Management (AIM). Informative programs and mutually-beneficial opportunities await to be executed, aside from generating employment under Investree Philippines’ growing team. From the premise of building a world where #EveryoneCanGrow, Investree Philippines has launched the Expertales, Experteam and Expertpreneur video campaign series to further boost its efforts to promote financial inclusion. Accessible on Investree Philippines’ website and social media channels, the series tackles topics relevant to Filipino SMEs, including out-of-the-box tips from key opinion leaders (KOLs). Investree seeks talent to join the Investree team where everyone can grow. The company offers a warm and encouraging culture conducive to employee growth on top of improved compensation packages, benefits and other incentives that make remote work fun and interactive. Interested applicants can visit careers@investree.ph. Learn more about Investree Philippines’ financing options at www. investree.ph or contact cs@investree. ph. Follow its social media channels for more updates on 2gether Towards the Future programs at @investree.ph.

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Thread holds thought leadership session to provide insights into the next normal in the Philippines

HREAD, one of the fastest-growing HR Solution partners and platforms under TESI join hands with industry experts through a thought leadership engagement with The Tipping Point. Guided by its mission to provide a flexible and highly adaptive platform to rapidly changing macro trends and factors, Thread aims to solve several business pain points such as mundane and tedious HR and payroll operations, challenges in accommodating flexible work arrangements, and decentralized, manual, and siloed systems and data, among others. “We, from Thread, strongly believe in this initiative. We would like to help solidify the stature of HR systems in the Philippines to provide a sensible measure for our fellow Filipinos to have a more streamlined and productive digital HR solution fitted for their institution,” says Marvin Alberto, Business Unit Head of SaaS, TESI. Recognizing the continuous and increasing number of companies that demand a more streamlined system Thread has now been offered to companies who aim to automate and digitize end-to-end HR and payroll processes. Thread can be accessed via the web or its Mobile applications available for iOS or Android bundled free on every subscription of Thread services. “At Thread, we want to dedicate our expertise to providing our target audience a wide array of services from a business-tobusiness standpoint. Through our service suite that is 100% cloud-based, work systems and integration will be seamless, guaranteed fast, and accurate,” Alberto added.

The session was attended by Mr. Myke Celis, a global master coach, Neuro-Linguistic Programming and Timeline Therapy, and the international best-selling author of the #bestmeever book series, who graciously presented facts about the future of work in the Philippines touching base the arena of RTO, Business bounce back plans, revenue growth, and employee satisfaction amidst the crisis. At the same event, Gerard Dy, an Architect, also shared the next normal and the future of the workforce and work in the Philippines through his lens as a creative director for 18 years. In his Masterclass session, Dy shares that it is important to identify the best-fitted ammunition to grow a business. “Guided by your passion and goals, as a business owner, you must learn how to identify, engage, and assess the proper ways to touch base with your customers and keep a value-laden structure for your employees,” Dy added. Thread is one with Celis and Dy in believing the same value proposition that will enable every Filipino to achieve their business goals and be competitive in the market. The Tipping Point by Thread was held last June and will continue to have pocket online activations and thought leadership engagements all across the year. TESI and Thread team encourages people and companies to try its free demo and trial. Email at sales@tesi.com.ph or book via https://thread.com.ph. Or visit their social media sites to know more about how Thread can help your business grow.

Exclusively for the ‘worthy’: pandapro dine-in mounts ‘Thor: Love and Thunder’ exclusive screening

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Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Growing incidence of pediatric eye problems a concern, says expert By Rory Visco

Contributor

Philippine Eye Disease Study done in 2018 revealed that the prevalence rate for vision impairment and blindness in the country was at 1.98 percent, which is about 1.1 million Filipinos with cataract, about 400,000 with uncorrected error of refraction, around 300,000 with glaucoma, and at least 200,000 with maculopathy or diabetic retinopathy, which is common for people suffering from diabetes. Also, at the time the study was made, there were about 4 million Filipinos with undiagnosed eye problems. Fast-forward to 2020, where a lot has changed since then. Because of the lockdowns and community quarantines, everything from learning to working was done at home. Zoom classrooms and web-based homework became the norm to protect school children from Covid-19. Children were forced to spend the whole day staring at their teacher and classmates through the computer monitor. This unnecessarily brought what the American Optometric Association called “Computer Vision Syndrome” or CVS, most of the time called “digital eye strain.” This is brought about by prolonged use of digital devices such as computers, tablets, smartphones, that led to kids having dry, irritated, red and watery eyes, blurred vision and trouble keeping their eyes open, among others.

Increase in eye problems among children Definitely, there was an increase in the number of cases of eye-related problems among school-age children in the country, according to Dr. Ricky Aranzamendez, Chief Operating Officer of Borough Lasik Center located at the Wellness Zone of SM Mall of Asia. “That’s what we are seeing, at least in the clinic, especially those who do a learnfrom-home or online schooling setup due to the Covid-19 scare.” Dr. Aranzamendez said that before, the majority of their patients were senior citizens. With the advent of laser eye surgery, he said that from the usual 80 to 90 percent senior citizens, it went down to about 50-50. “Right now, we have more patients with refractive cases, meaning the younger patients. When we talk about laser eye surgery, these are common among young adults, those below 40. It overtook the cataract surgery specifically for the elderly because they were not

allowed to go out because of their comorbidities.” But when onsite consultations slowly opened up, personally and based on their own census at the clinic, Dr. Aranzamendez said they saw a lot of school children coming in with their parents because the parents noticed something different. Usually for children, what can be seen are squinting, complaining of high irritation or blurs. Because of the pandemic and the lockdowns, children were forced to stay at home and the most preferred activities were watching movies, surfing the net. “The problem is, after school work, which forces them to stare at the computer or tablet for a long time, they still use their digital devices for entertainment or relaxation, playing games or watching videos on social media, which causes digital eye strain. Remember that any part of the body, when used excessively can be bad, like the eyes and can cause eye strain, where there is blurring of vision, feeling of dryness.” Dr. Aranzamendez said the premise before was usually generic, that when a parent is myopic, most certainly it will follow that the children may also have that. But now, he said that due to the tendency to overuse the eyes in digital devices, it appears that they may also have existing refractive errors, although not high compared to genetic ones. “Unlike in face-to-face classes in schools where there are other activities, the eyes are not used often. Moreso, increased screen time may also aggravate the situation if a person has a pre-existing condition.” However, the silver lining there is that because of the pandemic and the onset of online classes, parents were able to bring

their kids to the doctor earlier. Dr. Aranzamendez said they saw a lot of kids before who complain of eye issues when they are already 10 to 12 years old though it cannot be corrected immediately. He explained that the need to correct any deficiency in any grade for children should be as soon as possible, like before they turn eight years old. Otherwise, he said kids will develop “amblyopia” or lazy eye, where one eye is stronger than the other. “That’s the silver lining there. We are able to correct it early. The patient will complain, the parents will see it, then they will come to us. The treatment may just be glasses but when the child reaches the age of maturity, then we can offer laser eye surgery.”

A vision of advocacy Dr. Aranzamendez said that since they started Borough 16 or 17 years ago, Dr. Ches Heredia, Borough’s Chief Executive Officer, really envisioned giving quality service and also trying to make it more affordable despite the fact that they have invested in stateof-the-art technology that is comparable with other institutions. “It is a passion for both Dr. Ches and myself and it’s not just about making money. It’s about doing the surgery and making the patients happy. We earn a little but we also give back. Even now, if a patient really needs eye treatment but can’t afford it, we actually do some charity work. Part of Borough’s corporate social responsiblity is to perform these surgeries for people who are really in need and deserve it. For us, it’s about the joy of seeing the patient happy, or if they spent less but still had a successful surgery. That is Borough’s advocacy. What we do is we are really trying to help the community,” he said.

Operation Smile turns 40, commits to provide holistic care to beneficiaries By Anne Ruth Dela Cruz

peration Smile Philippines, a medical charity organization that originated in the Philippines and repairs children’s cleft lips and cleft palates for free, celebrates its 40th anniversary this year and renewed it commitment to provide holistic quality care for their beneficiaries. “As Operation Smile enters a new era as a global network driving access to high-quality health care, this milestone is the perfect time to reiterate our commitment to provide holistic care for children and their communities for the next 40 years and beyond,” Donald Lim, Operation Smile Philippines President, said during a recent media gathering. In 1982, American Dr. William P. Magee Jr., an American plastic surgeon, and his wife Kathleen, a nurse and clinical social worker, traveled to Naga City with a group of medical volunteers to repair children’s cleft lips and cleft palates. At that time, the team only managed to treat 40 children. As they prepared to leave, the Magees made a promise that they would return to help more children. Thus, Operation Smile was born. Since then, Operation Smile Philippines has made an impact on 88 cities and municipalities, conducted 33 surgical programs and successfully treated 32,925 patients around the country. This year, the institution has treated 33,000 so far. According to MayoClinc.org, cleft lip and cleft palate are openings or splits in the upper lip, the roof of the mouth (palate) or both. Cleft lip and cleft palate result when facial structures that are developing in an

unborn baby do not close completely. “The current thinking and the evidence indicate that the condition is genetic and at the same time caused by the environment, specifically nutrition. Right now, we are coming up with a program because we have identified certain B Complex vitamins are lacking during the organ formation period which is five to six weeks. At that time, the mother does not even know that she is pregnant. So if they do not have the right nutrition, and you have the genes, then the cleft would manifest,” related Dr. James Joaquino. Operation Smile’s Chief Medical Officer.

Untreated cleft conditions

According to Emiliano Romano, Operation Smile Executive Director, there are an estimated 5 million cases in low- and middle- income countries with untreated cleft conditions. In the Philippines, one in 500 births has a cleft lip/palate condition. “Operation Smile Philippines aims to treat 800 to 1,000 children with cleft conditions in 2022. The problems we seek to solve go beyond treating cleft conditions. By doing so, we take steps towards achieving large-scale change in the way surgeries are delivered and made accessible across the country,” he said. If cleft conditions are left untreated, these patients face feeding problems, speech problems and social isolation. Additionally, there is an urgent need to establish and improve standards of surgical care worldwide to provide children with the highest quality surgery possible. Operation Smile Philippines “envisions a future where health and dignity are improved through safe surgery.”

Holistic approach

In treating patients with cleft conditions across the country, Operation Smile Philippines employs a holistic approach to delivering comprehensive cleft care—providing nutrition education, cleft surgery, speech therapy, and psychosocial care. This approach has led to the development of comprehensive care centers in Manila, Pampanga and Davao. By establishing centers close to communities, Operation Smile is primed to deliver timely service and safe surgery where it is needed the most. “We have undergone a big shift. Ten years ago, we were mission based. Right now, we are doing the hub and spokes model already so that people can come to us,” Lim said. To facilitate even greater access to quality care, Operation Smile Philippines is establishing a new comprehensive care center in Cebu. Approximately 2,000 square meters, this center will be the organization’s largest and aims to cater to 10,000 patients within the next three to five years. When this comprehensive care center opens in Cebu, Romano said it will also serve as a regional training hub as well. Doctors from the Philippines and other countries will have the opportunity to be trained to do the surgery. “We are working now on the coming up with more spokes. Bacolod is one spoke we are looking into right now as well as Palawan and Naga. So in five years, we are looking to having about four hubs and an additional six spokes. So that’s the goal,” Romano said.

Enhance surgical care delivery

Alongside the creation of com-

prehensive care centers across the country, Operation Smile Philippines has continued investments in local district hospitals to enha nce t he del iver y of surg ica l care and positively impact public health. Recent initiatives include the renovation of the surgical unit of Santa Ana Hospital with the goal of providing 1,000 new surgeries a year. In partnership with Dr. Jose Fabella General Hospital, the institution also aims to develop the first registry to record cleft births for faster interventions, as well as training programs to educate both medical professionals and mothers on cleft conditions and life-saving skills to reduce maternal and new born mortality. “These achievements and ongoing initiatives are the product of an expanded network of key partnerships forged under the common goal of increasing access to oral cares,” Romano said. Lim added that there was really a need to make more people know that there is an institution in the Philippines that will operate children with cleft conditions for free. “I had a conversation once with Bill Magee and he reminded me that this is not just physical. It is more mental and emotional. You are really changing a life. That’s why we are changing the lives of these kids one smile at a time, and that is the very essence of it,” he said. “We are changing one simple liability that these children have no control over. We can change a life in just one hour. The wish of a child is simple—to treat the condition and that is why it is really leveling the playing field. It is really ensuring that they have a future,” he added.

Thursday, July 14, 2022 B7

Observe minimum health standards to prevent foot and mouth disease By Claudeth Mocon Ciriaco

he World Health Organization (WHO) said that hand, foot and mouth disease (HFMD) is a common viral illness that mostly affects infants and children below five years old. HFMD is usually a mild disease, and nearly all patients recover in seven to 10 days without medical treatment. It is commonly caused by coxsackievirus A16 (CA16) which usually results in a mild self-limiting disease with few complications. However, the Department of Health (DOH) said that HFMD is also caused by Enteroviruses, including EV-71, which has been associated with serious complications, and may be fatal. One of the complications is dehydration since some are not able to swallow enough liquids due to painful mouth sores. Moreover, EV-71 has been associated with meningitis and encephalitis, and may cause severe complications, including neurological, cardiovascular and respiratory problems.

EV-71 very rare in PHL

In the Philippines, the DOH said EV-71 infections occur in the country but are not included in the reportable diseases. The fatal EV-71 infection is still very rare in the Philippines. However, former Health Secretary Enrique T. Ona instructed the National Epidemiology Center to include EV-71 infection as a notifiable disease in the country so that all health providers, particularly physicians, must report individual cases or even outbreaks. Laboratory screening of specimens and confirmation of cases are done at the Research Institute of Tropical Medicine.

No vaccine

According to Health Undersecretary Maria Rosario Vergeire, there is no vaccine to prevent HFMD. “Minimum public health standards such as mask-wearing, especially when sneezing and coughing, physical distancing, and frequent washing of hands may help in avoiding the transmission of HFMD,” Vergeire said.

How it spreads

Health experts said that HFMD is characterized by a brief febrile illness in children and typical skin rash, with or without mouth ulcers. Typically, the rash is papulovesicular and affects the soles of the feet, or both. The viruses may be spread when infected persons touch objects and surfaces that are then touched by others and enteroviruses could be excreted in the stools for up to six weeks and throat secretions for up to two weeks. Among the recommended HFMD disease preventive and control measures include the conduct of information and education campaigns in good hygiene and basic sanitation to reduce spread of the disease and the timely reporting of individuals that are infected with the said illness for them to be provided with the appropriate diagnoses considering that such illness is curable. Health experts explained that children and adults have the tendency to acquire the illness when getting in contact with infected individuals in crowded places. Thus, one of the suggested preventive and control measures against HFMD is to ensure that people have a strong immune system, especially when frequenting crowded places.

PHL-made test kit helps detect animal disease, address consumer concerns By Roderick L. Abad Contributor

O help assuage the people’s fear for their health with regards to the safety of pork products they consume, a locally developed African Swine Fever or ASF Test Kit will be distributed in the Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) region by Diamed Enterprise, following the signing of distribution agreement with its manufacturer GenAmplify Technologies Inc. (GTI), a subsidiary of Manila Healthtek (MTek). “The GenAmplify ASF PCR Detection Kit delivers the same quality of performance as international brands. It is user-friendly, and is very convenient since it allows the use of different types of samples,” said Dr. Lorenzo Arellano, a veterinarian from Diamed. Last year, the test kit was approved by the Food and Drug Administration (FDA) and validated by the Veterinary Laboratory Division of the Bureau of the Animal Industry. The test kit has been found it to be 100 percent sensitive, which means it can detect true positive as reflected on its sensitivity, and 100 percent specific or can also detect true negative, a matter that reflects on specificity. Recently, the product also underwent field implementation in partnership with animal diseases diagnostic laboratories, including the facility of Diamed in Los Baños, to validate its performance and understand the gaps before its actual roll-out in the market.

Diet pandemic

SINCE ASF was first detected in 2019, it has affected the Philippine hog raising industry, valued at about P260 billion, according to a report from Phys Org in 2021. Since many of the affected hogs were culled to mitigate the rapid spread of the virus, the Filipino diet has been affected by the short supply of pigs which are among the main sources of protein and widely-consumed livestock products of the domestic market at 15.2 kilograms per capita. Next to rice, pork is the top 2 source of food energy for Filipino working adults, according to a study published in Nutrients in April 2020. People for the Ethical Treatment of Animals (PETA) Asia Senior Vice

P resident Ja son B a ker pre v iou sly said that “deadly disease outbreaks will continue as long as animals are packed into filthy pens and feedlots [confined feeding quarters to speed up weight gain].” “Unless people stop eating meat, we might see ourselves with another pandemic on our hands very soon,” he added.

Aggressive push

PER the Department of Agriculture, ASF nationwide has substantially waned after the outbreak three years ago. Its data showed that active cases were reported in only two regions, four provinces, seven municipalities and 20 barangays as of March 31. This was a significant reduction from a high of 3,657 barangays in 678 cities and municipalities, in 51 provinces, recorded since 2019. Despite the improved situation, the province of Camiguin declared an ASF outbreak on July 4. This happened at the time when GTI is aggressively rolling out the test kits nationwide to help detect the spread of the animal disease in other parts of the country. “We are open also for other distributors to cover other areas, most especially those areas with reported outbreaks,” said Maricar Ocampo, Vice President for Sales and Marketing of GTI. “A wider distribution network will eventually help us further lower the cost of testing to make it more accessible for hog farmers,” she noted. Aside from lower cost and accessibility, Dr. Ernesto Balolong Jr., Director of Research and Development, Animal Health Division of MTek, added another important product feature. “Since the product is locally-developed, the manufacturers can readily provide technical assistance to laboratories should there be problems, versus imported test kits,” he said. Diamed Enterprise is a provider of Life Science and Diagnostics products in the country. Aside from marketing the GenAmplify ASF PCR Detection Kit, GTI also manufactures and distributes high-quality, accurate kits and devices used for diagnostic testing for communicable and non-communicable diseases, including the Philippine-developed GenAmplify Coronavirus 2019 (Covid-19) RT-PCR test kit and MTek’s Biotek-M Dengue Aqua Kit.

COVID, NOT RIDERS, THREAT TO POGACAR

Sports BusinessMirror

| Thursday, July 14, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

DENMARK’S Magnus Cort Nielsen (back) edges Australia’s Nicholas Schultz in the sprint finish as overall leader Tadej Pogacar waves to the crowd. AP

GOLF legends Jack Nicklaus (right) and Tom Watson pose for a photo during the “Champions Round” on Monday. AP

2 p.m. (Alabama time). Amit, a multiple world champion and SEA Games gold medalist, has Germany’s Pia Filler as her opponent also in the round of 16 of women’s 9-ball. The Philippines has won two gold medals since joining the World Games in Santa Clara, California, in 1981. Junna Tsukii won the second in women kumite’s -50 kgs of karate last Saturday. Still to compete in the 10-day games that were postponed a year because of the Covid-19 pandemic, according to Philippines Chef de Mission Patrick “Pato” Gregorio are Annie Ramirez, in jiu-jitsu on Friday, Philip Delarmino and Leeana Bade in muay on Saturday and Marion Kim Mangrobang, John Chicano and Fernando Caseres also during the weekend. Josef Ramos

Rain or Shine keeps QF hopes alive Stake Laengen last week. Bennett was 32nd in the general classification. His withdrawal was announced a day after the UCI said no riders tested positive for the virus during mandatory testing of the entire peloton before Monday. Team BikeExchange-Jayco also announced the withdrawal of a rider on Tuesday after Australia’s Luke Durbridge tested positive before Stage 10. “Durbridge has very mild symptoms,” the team said. DANISH RIDER WINS SPRINT MAGNOS CORT NILSEN won a twoman sprint in a photo-finish to claim the 10th stage of the Tour de France on Tuesday at the end of a hilly trek in the Alps that was interrupted by protestors. It was Cort Nielsen’s second stage win at cycling’s biggest race after his maiden success in the medieval city of Carcassonne four years ago. The Danish rider pipped Nick Schultz to the line by a few inches at

the end of the long and exhausting climb to the Megeve ski resort after Luis Leon Sanchez, who ended third, launched the sprint. Cort Nielsen fell on his back, exhausted, once he crossed the finish line. “I can’t believe what just happened today, I was on the limit for so long on this climb,” he said. “I lost contact with the group a couple of times in the last kilometers. Luckily, it went all back together and I was there.” Two-time defending champion Tadej Pogacar rode among a group of general contenders that crossed less than nine minutes behind and kept the race lead. It looked like that Pogacar would relinquish his yellow jersey since Lennard Kämna at some point gained enough time in the day’s breakaway to dream about the famed tunic. But the chasing pack of favorites rode hard in the finale and the Slovenian champion kept hold of his lead. Pogacar now leads Kämna by

Does British Open at St. Andrews complete career? T. ANDREWS, Scotland— Jack Nicklaus has mentioned the importance of winning the British Open at St. Andrews in various ways over the years, and his inspiration was Bobby Jones. Jones won the claret jug at St.

Biado eyes 2nd 9-ball gold medal at World Games in Birmingham ARLO BIADO opens his campaign for a second World Games gold medal as action in men’s billiards kick off on Thursday in Birmingham, Alabama. Biado won the men’s 9-ball event in Wroclaw, Poland, in 2019 for the country’s first gold medal at the World Games, a competition in sports played widely worldwide but aren’t on the Olympic program. On Friday, it will be Rubilen Amit’s turn to compete in women’s billiards at the Sheraton Hotel Ballroom in Birmingham. Biado, 38, is the reigning US Open 9-ball champion and gold medalist in the same event at the Vietnam 31st Southeast Asian Games last May. He plays Poland’s Wiktor Zielinski in the round of 16 tournament starting

EGEVE, France— The coronavirus could well be the biggest threat to Tadej Pogacar’s dominance at the Tour de France. The two-time defending champion from Slovenia has been the dominant rider of the peloton since the start of the race, but the coronavirus is playing havoc within his team. Pogacar lost another teammate on Tuesday when George Bennett was forced out before Stage 10 following a positive coronavirus test. Bennett, a New Zealander who rode in support of Pogacar with the UAE-Emirates team and was set to help him through the mountains, was tested on the rest day Monday after showing symptoms of the coronavirus, team doctor Adrian Rotunno said. “He...returned a positive result,” Rotunno said. “Therefore he will not start today.” UAE-Emirates Team officials later announced that Rafal Majka also tested positive for the virus but remained in the race. “Rafal Majka...returned a positive result this morning,” Rotunno said. “He is asymptomatic and analyzing his PCR found he had a very low risk of infectivity.” The UAE-Emirates team said it reported Majka’s case to the International Cycling Union (UCI) medical team, which authorized the rider to start the stage. Majka is a strong climber and it will be a big loss for Pogacar if his domestique is eventually forced to abandon as the peloton prepares to tackle two daunting Alpine stages including a finish at L’Alpe d’Huez on Thursday. Bennett was the second rider from the UAE-Emirates to leave the race because of a positive test after Vegard

CARLO BIADO is a favorite to repeat as champion.

Andrews in 1927, and he won the British Amateur on the Old Course in 1930 when he won the “impregnable quadrilateral”—the four majors of the time, the US Open, British Open, US Amateur and British Amateur. “If you’re going to be a player people will remember, you have to win the Open at St. Andrews,” Nicklaus said. He is just as fond as quoting Jones: “No golfer’s career is complete until he’s won at St. Andrews.” The only Open champions at St. Andrews this year are Tiger Woods, Zach Johnson, Louis Oosthuizen and John Daly. Good luck to the other 152 players in the field, right? “I don’t know if a golfer’s career isn’t complete if you don’t,” Rory McIlroy said. “But I think it’s the holy grail of our sport. So not a lot of people are going to get that opportunity to achieve that, but that’s what winning an Open at St Andrews is. It’s one of the highest achievements that you can have in golf.”

BBM sports sackage WHAT would President Ferdinand R. Marcos Jr’s sports program be like? On the campaign trail, the future President and his running mate, the future Vice President Sara DuterteCarpio said, “Sports has proven that it is and will always be a unifying passion of Filipinos. And our UniTeam will be one with all of our athletes in this cause.”

Woods is playing the Open at St. Andrews for the sixth time. Mark Calcavecchia, who won the Open at Royal Troon, is playing it for seventh time. Considering the Open usually goes to St. Andrews every five years, that would give a player no more than about five chances at the Old Course during his peak years. “I’ve heard multiple champions say it,” Jon Rahm said. «I think it was Jack and Tiger both accomplished it. ‘You can’t really call yourself a great player unless you win The Open at St Andrews,’ which is a very selective group to say. I think it’s a bit of an exaggeration, but I do know what they mean. “And it can almost put your career to another level just because how great of a venue this one is.” McIlroy said it would be unfair to say a player’s career is incomplete without having won at St. Andrews. The best example would be Tom

Even earlier than the campaign, the would-be president expressed sadness at how young people in Mindanao suffered injuries and also experienced psychological stress because of the armed conflicts that were part of their everyday experience. He saw the solution to be for young people there “to redirect their attention and be active participants in sports development, physical fitness, social and cultural programs,” noting that Mindanao is already a gold mine of stellar athletes. Olympic achievers like the country’s first gold medalist Hidilyn Diaz, and boxers Nesthy Petecio, Carlo Paalam and Eumir Marcial are the proof. From how he talks and acts, the younger Marcos seems to have a healthy and upbeat attitude towards sports. There is a general sentiment that Filipino athletes will be a huge part of his government’s platform for unity and progress. “The Philippine Olympic Committee and the whole of Philippine sports … is more hopeful now that our athletes will be given more priority and attention under President Marcos,” said POC president Rep. Abraham “Bambol” Tolentino on the day of PBBM’s inaugural on June 30. A contingent of athletes and coaches in wushu, sepak takraw, jiu-jitsu, judo, kurash, shooting, rowing and

11 seconds ahead of two daunting stages in the high mountains. Kämna is not expected to stay in contention in the thin air and Jonas Vingegaard of Denmark remains Pogacar’s most dangerous rival, 39 seconds off the pace. Wednesday’s Stage 11 features two legendary Tour passes—the Col du Télégraphe and the Col du Galibier, before a mountain-top finish at the Col du Granon on brutal slopes culminating at 2,400 meters (7,800 feet) above sea level. Thursday’s stage ends at the Alpe d’Huez. “In the end, it all worked out like it did and I’m still happy that I’m in the yellow jersey,” said Pogacar, who has been in a dominant form since the start of the race. AP

By Josef Ramos

AIN OR SHINE played with a strong sense of resiliency throughout to win back-to-back games at the expense of Blackwater, 107-90, on Wednesday in the Philippine Basketball Association Philippine Cup at the Smart Araneta Coliseum. The Elasto Painters survived an atrocious first half with a solid offensive game in the last two quarters where they outscored the Bossing—37-23 and 29-22—to improve to 3-6 won-lost and keep their hopes for the playoffs alive. Gunner Rey Nambatac nailed 15 of his third career best 26 points in the last two quarters and also grabbed seven rebounds, while rookie Gean Mamuyac tallied a conferencehigh 20 points, 14 he made in the second half, for the Elasto Painters. “As a veteran, I always tell the players to enjoy every game, believe in each other and in our system,” said Nambatac, who also made 12 of 13 free throws. Big man Norbert Torres nailed a three-pointer to make it 99-83 with two and a half minutes left and

Watson, an eight-time major champion who won the British Open on five different courses. But never at St. Andrews.

Andrei Caracut split his charities with 34 seconds remaining for Rain or Shine’s biggest lead at 105-86. Their back against the wall, the Elasto Painters overcame a sluggish 13-of-40 shooting in the first half by sinking 13 of 24 shots in the third and 9 of 17 attempts in the fourth quarter. The Bossing, on the other hand, went 8 of 20 in the third quarter and 6 of also of 20 shots in the final period. “It’s definitely hitting a nail right on the head with resiliency. Our guys were able to put together two excellent performances [in two games],” said Rain or Shine coach Chris Gavina, whose wards beat the NLEX Road Warriors, 96-86, last Saturday. “Being consistent is a talent and being excellent is a habit, which we were able to do today,” he added. Veterans Beau Belga and Gabe Norwood added 12 and 10 points, respectively, for Rain or Shine. Rookie Brandon Rosser-Ganuelas had a career-high 19 points for the Bossing, who fell to 5-3 with still three games left in their elimination round schedule. RAIN OR SHINE’S Beau Belga tries to stave off Blackwater’s Renato Ular. NONOY LACZA

DREAM GROUP MAX HOMA qualified for his first major in 2013 for the US Open at Merion, having just won the NCAA championship at Cal. He showed his personality back then with a tweet that asked Tiger Woods for a practice round. He added the hashtag “hero.” It never happened. Homa went on to win the Genesis Invitational in 2021. Woods is the tournament host and presented Homa with the trophy that day at Riviera. It keeps getting better. In the 150th British Open at St. Andrews, where Woods has won two of his claret jugs, he was put in the same group with US Open champion Matt Fitzpatrick and Homa. That was occasion for another tweet from Homa. “I’m playing with Tiger Woods at the 150th Open Championship at St Andrews. Hey golf gods, we’re even,” said part of the quote. AP gymnastics were in fact part of the military civic parade at the oath-taking. As they passed the inaugural platform, the new President smiled, bowed, clasped his hands to his chest and said “Salamat.” Their inclusion in the parade itself speaks volumes about the new President’s relationship with the sports community. Sports is his inheritance, after all. From his predecessor, President Rodrigo Duterte, he inherits a sports program and achievements not yet accomplished by past administrations. The country’s first Olympic gold medal in weightlifting courtesy of Hidilyn Diaz is an answered prayer of generations of Filipinos. The number of medals garnered by the Philippines in the same Tokyo Summer Olympics is the biggest ever. The hosting of the 30th Southeast Asian Games spearheaded by the Philippine Sports Commission was smooth and successful, with the country coming out as overall winner and owner of a war booty of 149 gold, 117 silver and 121 bronze medals. President Duterte said he hoped the “golden era” of Philippine sports would go on, well beyond his term. PBBM inherited a golden sports legacy too from his own

father, the former President Ferdinand Marcos Sr. Although martial law did cause anguish, fear, anxiety and disgust for many, Philippine sports enjoyed a boom during that period. The Project: Gintong Alay—the national sports program launched during the earlier Marcos years led by FM nephew Michael Keon—produced high achievers in international competitions. Track and field stars Lydia De Vega and Isidro Del Prado won honors for the country abroad. The Philippines topped SEA Games competitions consistently. Even sports journalism flourished, with local all-sports publications being born and fanning the flames of Filipino sports mania. Now it is the second Marcos president’s turn to “put on a show.” One of the areas that still has to be strengthened is a strong grassroots sports program that will produce the country’s proud and accomplished athletes of the near and far future. The National Academy of Sports at the New Clark City created by Republic Act 11470, is already in place and should produce, develop and implement high-quality sports programs, training and competition opportunities for student-athletes. Whoever PBBM will appoint as his new sports czar should continue the good things and add flourishes of the new administration’s own.