BusinessMirror July 19, 2020

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ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year

BusinessMirror

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A broader look at today’s business n

Sunday, July 19, 2020 Vol. 15 No. 283

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

P25.00 nationwide | 2 sections 12 pages | 7 DAYS A WEEK

THE USS Ronald Reagan (CVN 76) and USS Nimitz (CVN 68) Carrier Strike Groups steam in formation, in the South China Sea, July 6, 2020. China accused the US of flexing its military muscles in the South China Sea by conducting joint exercises with two US aircraft carrier groups in the strategic waterway. MASS COMMUNICATION SPECIALIST 3RD CLASS JASON TARLETON/US NAVY VIA AP

TESTING THE WATERS Amid US and Asean’s affirmation of support for the UN arbitral tribunal ruling on disputed maritime territories, Duterte government prodded to seize the initiative. By Rene Acosta

W

ITH the United States and Asean’s affirmation of support for the four-year-old ruling of the United Nations (UN) arbitral tribunal, the Philippines should seize the initiative in “implementing” the decision, at the very least, by encouraging Filipinos to fish in Scarborough Shoal, and possibly drive away Chinese vessels that are loitering in the West Philippine Sea (WPS), especially in the waters within and surrounding the Pagasa Island. That’s the fearless advice of the former mayor of Palawan’s Kalayaan Island Group (KIG), the municipality where Pagasa belongs.

The Scarborough Shoal near Zambales and other islands covered by China’s expansive claims in the South China Sea (SCS) are currently under a three-month fishing ban that had been unilaterally imposed by Beijing beginning May this year, while Chinese maritime militia vessels masquerading as fishing vessels are prowling the waters of the KIG.

Challenge the fishing ban

FORMER Kalayaan Mayor Eugenio Bito-onon Jr. said the country should begin testing the waters with China, initially by challenging Beijing’s fishing ban over Scar-

borough—listed by the tribunal as a long-time fishing ground for Southeast Asian fishermen, and therefore not subject to any single nation’s ban—and other maritime waters for which the UN has declared for the Philippines’ exclusive use, especially now that the US and Southeast Asian states have spoken strongly in support of the ruling. Bito-onon wants the government to take initiatives in implementing the decision and to put some “teeth” behind the US’ and the Asean’s strong declaration against China’s expansive claims— an assertion anchored solely on so-

called “historical claims” as manifested in its Nine-Dash Line, which overlaps even into the waters off Ilocos Norte in the north.

Pompeo’s strong message

ON Tuesday (July 14), US Secretary of State Mike Pompeo said that China has no legal grounds to unilaterally impose its “will” on Southeast Asia as the Nine-Dash Line had been rejected by the Arbitral Tribunal on July 12, 2016, effectively favoring the Philippines, which filed the case following China’s aggressive activities and even bullying in the WPS. Continued on A2

Pandemic threatens to burst Philippines’ online gaming bubble Closing down

By Siegfrid Alegado & Andreo Calonzo

W

Bloomberg

ITH the twin global gaming centers of Macau and Las Vegas bleeding millions of dollars daily as casinos stand empty, the much smaller online gaming industry in the Philippines was supposed to benefit as gamblers logged into live-streamed bets to scratch the itch. Instead, the $8-billion gaming industry is also fighting for survival, with stark consequences for the country’s property and retail sectors. After being shuttered for months as they were considered “unessential” during the long lockdown to contain the virus, Manila’s online casinos can still only partially operate. The restrictions have been weighing on their operations, said Ben Lee, a Macau-based man-

aging partner at Asian gaming consultancy IGamiX. This could be the tipping point for the country’s gaming industry, which has faced waves of pressure including the threat of higher taxes, lawmakers’ calls for an outright gaming ban and divisions over ugly accusations its largely migrant workforce brought crime to the country, and also worsened the virus outbreak.

PESO EXCHANGE RATES n US 49.5440

IN this April 28, 2020, file photo, a POGO (Philippine Offshore Gaming Operator) office in Tambo, Parañaque City, is closed temporarily during the coronavirus lockdown. NONIE REYES

ALREADY, two of the nation’s 60 licensed operators in what had been a robust industry have shuttered their doors since the pandemic began. “There are more to come. We’re just convincing them to stay,” said Jose Tria, who works for the nation’s gambling regulator as assistant vice president for offshore gaming. Only 14 of the operators have resumed operations; the rest are in wait-and-see mode. If the industry collapses, it could leave empty as much as 3.4 million square meters of combined office and residential space as the industry’s migrant workers head home, according to Leechiu Property Consultants Inc. That’s more than 600 football fields. “They will just leave if nobody wants them,” said David Leechiu, chief executive officer at the property services company, which has one of the biggest shares of online gambling clients among brokers in the Philippines. Since the lockContinued on A2

n JAPAN 0.4619 n UK 62.2223 n HK 6.3900 n CHINA 7.0888 n SINGAPORE 35.5971 n AUSTRALIA 34.5173 n EU 56.3959 n SAUDI ARABIA 13.2107

Source: BSP (July 17, 2020)


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