HOUSE SPEAKER RACE NOT A DONE DEAL By Jovee Marie N. dela Cruz @joveemarie
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WO breakfast meetings at the House of Representatives, just hours before the opening of the 18th Congress and the President’s State of the Nation Address, are being seen as indications the smooth transition Malacañang had hoped for may not be forthcoming. And, as a senior lawmaker put it on Sunday, some people may have sleepless nights on
MICROPHONES frame the carpeted path leading to the centerpiece of the State of the Nation Address (Sona) and the opening of the 18th Congress. On that spot, three of the five top leaders of the country—the President, Senate President and House Speaker‚ will converge on Monday afternoon. BERNARD TESTA
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Sona’s eve, in a throwback to the 2018 hours-long standoff at the House, when then-Speaker Pantaleon Alvarez was ousted in a “coup” that installed Pampanga Rep. Gloria Macapagal-Arroyo. The rowdy, tense transition delayed President Duterte’s Sona delivery by an hour. This year, while lawmakers expressed confidence the opening of the First Regular Session of the 18th Congress will go smoothly, Albay Rep. Joey Salceda hinted that lawmakers’ choice might not end with Duterte’s “suggestion” in the speakership race. In a radio interview on Sunday, Salceda expressed concern on the outcome of the “breakfast meeting” between lawmakers and the President’s son and Davao City Rep. Paolo Duterte hours before the election of the next Speaker. At press time, at least 200 lawmakers had said they will attend the breakfast meeting at the South Lounge.
“He will not call for breakfast if you’re just getting to know them,” Salceda said, adding, “I think he [Duterte] is accepting that he has a responsibility in the years of his influence as a member of the House and as a son of the President.” According to Salceda, a dark horse in the race may come out after the breakfast meeting. “I would say [Taguig Rep. Alan Peter] Cayetano is still the front-runner but tommorow [Monday], there might be a dark horse,” Salceda added. Fending off relentless lobbying by speakership aspirants, Duterte said last week his personal preference is a term-sharing setup, with Cayetano taking the first 15 months as Speaker, and Marinduque Rep. Lord Allan Velasco, the last 21 months. A third key rival, Leyte Rep. Martin Romualdez, could be majority leader, Duterte said.
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A broader look at today’s business n Monday, July 22, 2019 Vol. 14 No. 285
Inflation seen to dip earlier than expected
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By Bianca Cuaresma
@BcuaresmaBM
RIVATE economists in the country agree that inflation will go further down than earlier expected, likely on base effects and the stabilization of food prices toward the end of the year. In its June 2019 survey of 27 private bank economists across the country, the Bangko Sentral ng Pilipinas (BSP) reported that the analysts forecast inflation to hit an average of 2.9 percent for the year. This is lower than their ear-
lier average forecast of 3.3 percent for 2019. The BSP said respondent economists expect inflation to remain manageable and within the government’s target range, with risks to the inflation outlook likely to be
broadly balanced. The analysts, based on the BSP’s probability distribution survey, were also 94.6 percent certain that inflation will be within the government’s 2 to 4 percent target range for the year.
2.9%
Average inflation for 2019 as forecast by private bank economists in the June 2019 survey by the Bangko Sentral ng Pilipinas. This is lower than their earlier average forecast of 3.3 percent for 2019 The respondents’ reasons for seeing a deceleration of inflation toward the end of 2019 are: base effects; the continued implementation of nonmonetary policy actions to increase domestic food supply and stabilize prices, such as the rice tariffication law, rice importations and the mitigating measures See “Inflation,” A2
OOD purchases by Filipino households, par ticu larly middle-income class earners, will drive the country’s food retail sales upward by 5.5 percent to a record-high $50 billion from $47.4 billion this year, according to a Global Agricultural Information Network (GAIN) report. The GAIN report, prepared by the United States Department of Agriculture Foreign Agricultural Service in Manila, estimated Philippine food retail sales last year at $47.4 billion from $44.98 billion in 2017. “ The Philippines’s food retail market in 2018 was valued at $47.4 billion, and is forecast to reach nearly $50 billion in 2019,” the report read. “Filipino households spend
PESO EXCHANGE RATES n
See “GAIN report,” A2
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GROWTH WON’T REBOUND TILL 2ND HALF; Q2 NUMBERS BELOW 6%–ANALYSTS
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CONOMIC growth won’t recover from its dismal performance up until the second half of the year, analysts said, due largely to the lingering effects of rate hikes and budget delays in the second quarter of the year. Separate research notes from ING Bank Manila and Standard Chartered Bank say one thing: that after the first quarter slump in the country’s gross domestic product (GDP), growth will likely be disappointing again in the second quarter of the year before bouncing back toward the second half of 2019. For ING Bank Manila economist Nicholas Mapa, growth is likely to slip below 6 percent again in the second quarter of 2019, as it did in the January to March performance of the economy. “The Philippines posted a disappointing 1Q GDP print of 5.6 percent as government outlays
cratered on the budget delay while capital formation lost its luster after BSP hiked aggressively in 2018.... With 2Q GDP expected to remain subdued on lingering effects of rate hikes and budget delays, first-half growth will likely slip below 6 percent as the speed bump hits home,” Mapa said. Mapa said government underspending—which is the likely cause of the growth slowdown— affected the first-quarter growth, as well as a huge part of the second quarter performance, as the government was only able to pass the budget bill in April. “2H Growth, however, appears to offer some hope as the Philippines attempts to achieve escape velocity and get growth back on a higher trajectory. If the Philippine economy is able to get all three channels of growth up and running, we could see the See “Growth,” A2
Violations continue in Panglao
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Filipino households spend more than half of their budget on essentials including food. Purchases of food and nonalcoholic beverages comprised almost 40 percent of household expenditures in 2018.”— GAIN more than half of their budget on essentials including food. Purchases of food and nonalcoholic beverages comprised almost 40 percent of household expenditures in 2018,” it added. The report noted that most modern grocery retailers are in Metro Manila and other key areas where most middle-income earners reside.
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PHL households to boost food retail sales to $50B this year–GAIN report
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See “House Speaker,” A2
KING OF BOXING Manny Pacquiao, 40, gives yet another one-sided thrashing to Father Time, pulling off a split decision victory over erstwhile unbeaten Keith Thurman to snatch the World Boxing Association welterweight title at the MGM Grand Garden in Las Vegas that repeatedly chanted Pacquiao’s name from the moment he reached the ring. See story on C1. AP
NUMBER of resorts on Panglao Island in Bohol continue to violate easement regulations, despite the six-month period given them to address these problems. Several areas in the surrounding waters were also found to be polluted, a separate government report also noted. The deadline for the Bohol local government unit (LGU) and tourism stakeholders to improve water quality or fix their respective violations ended on May 31. “The compliance is still low. Less than half of the resorts along Alona Beach have complied with the easement ordinance,” disclosed a government official, after a team from the Department of the Interior See “Panglao,” A4
US 51.0290 n JAPAN 0.4756 n UK 64.0363 n HK 6.5289 n CHINA 7.4165 n SINGAPORE 37.6181 n AUSTRALIA 36.1030 n EU 57.5556 n SAUDI ARABIA 13.6070
Source: BSP (19 July 2019 )
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A2 Monday, July 22, 2019
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With no ‘surprises,’ Senate ready for work
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By Butch Fernandez
@butchfBM
NLIKE their House counterparts locked in a brewing leadership struggle, senators said they are on track to buckle down to work as soon as the two legislative chambers separately convene their regular sessions on Monday. “Yes, no surprises,” Senate President Vicente Sotto III told the BusinessMirror over the weekend,
Deployment of workers to Libya still suspended
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ILIPINO job seekers in Tripoli have been advised to be wary of individuals and agencies in the Philippines and Libya who have been recruiting workers for jobs in Libya. The suspension of the recruitment, processing and deployment of Filipinos in the Philippines or abroad for jobs in the medical, oil and gas, and other sectors in Libya remains in effect and has not been lifted, the Department of Foreign Affairs (DFA) said, citing the Philippine Embassy in Libya. The Philippine Overseas Employment Administration (POEA) has also informed the Philippine Embassy that it has not issued any approval to any individual or agency in the Philippines and in Libya to recruit and deploy nurses, engineers and other workers to Libya. “Only Filipinos who are in possession of existing work contracts and certificates of exemption from the embassy, and who are on vacation in the Philippines are allowed to return to Libya,” the DFA said in a statement. “The embassy is currently working with Libyan authorities to ensure the safety and security of Filipino workers in Libya and address other concerns that have been brought to its attention.” The embassy reminded Filipinos who are bringing Filipino workers to Libya from the Philippines and other countries that they are liable for violating Republic Act 9208 as amended by Republic Act 10364, otherwise known as the Anti-Trafficking Persons Act; and Republic Act 10022, otherwise known as the Migrant Workers Act. The public is encouraged to report these illegal activities to the embassy in Tripoli or the DFA, the Department of Labor and Employment, the POEA or other concerned agencies of the government in the Philippines. Recto L. Mercene
IRR. . .
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RA 11201 was passed in Congress on November 12, 2018, and signed into law by President Duterte on February 14 this year. The functions of the DHSUD involve policy-making, regulatory, as well as monitoring of the environmental land use, and urban planning and development; housing and real-estate development; and homeowners associations and community development. The newly created government agency is tasked to identify government lands suitable for housing, as well as urban and rural development projects. The identification of government lands is to be undertaken jointly with the Department of Environment and Natural Resources (DENR), Department of Agrarian Reform (DAR), Department of Agriculture (DA), Department of the Interior and Local Government (DILG), as well as the
when asked about the possibility of an unanticipated leadership shakeup or any surprises in committee
chairmanships. His response indicates incumbent senators are likely to retain their committee assignments, to be finalized within the week, despite an earlier furor created by reports that certain neophyte senators were angling for key committee chairmanships, in breach of the chamber’s tradition of following the equity of the incumbent. The 18th Senate is made interesting by the presence of three close supporters of President Duterte: former special assistant to the President Christopher Lawrence “Bong” Go, former National Police chief Director Gen. Ronald “Bato” dela Rosa, and former
House Speaker. . . “May aabangan tayo bukas, definitely, if Polong [Paolo Duterte’s nickname] can pull it. Nasabi na rin ni Presidente na hindi sya magagalit kung iba ang boto sa sinabi nya. Kung hindi na lang sana nasabi yun e di sana tapos na ang boxing,” he said. On Monday morning, Cayetano and Paolo Duterte both invited lawmakers to a breakfast meeting before the 10 a.m. opening of the 18th Congress.
2 meetings
DUTERTE’S meeting with lawmakers was set at 8 a.m. while Cayetano’s gathering is at 8:30 a.m. Before the President’s endorsement, five lawmakers were vying for the speakership: Cayetano, Velasco, Romualdez, Davao City Rep. Isidro Ungab and Bayan Muna Rep. Carlos Isagani Zarate. However, a manifesto of support is also circulating showing “unequivocal support” for the Duterte Coalition. Ungab is one of the founders of the said coalition. “We stand firm on the leadership of President Duterte and his fight against corruption, drugs and crime, financial stability and overall health of our economy and the unparalleled implementation of infrastructure development all over the country,” the manifesto said. Duterte had earlier said the speakership issue is still far from over despite the endorsement of Cayetano and Velasco by
Dengue. . .
Continued from A1
his father, President Duterte. He also floated a possible coup amid the fight over the speakership. The young Duterte said the speaker has not been elected and there is still an election on July 22. The Davao solon earlier backed out from the speakership and supported the bid of Ungab from Hugpong ng Pagbabago, the party founded by his sister, Davao City Mayor Sara Duterte. Anakalusugan Rep. Mike Defensor said everyone respects the endorsement of President Duterte. “I don’t think there will be a coup [today],” he said. According to Defensor, three camps have already accepted the President’s decision.
Genuine opposition
ALBAY Rep. Edcel Lagman, meanwhile, challenged the incoming leadership of the lower chamber to allow and recognize “a genuine and constructive” leader of the opposition in the House of Representatives. Lagman said the presumptive Speaker has never said anything about respecting the emergence of an authentic minority leader. “A real and responsible opposition will not only assure a democratic legislative process but will also restore the credibility of the House of Representatives,” he said. Earlier, former House Majority Leader Fredenil Castro of Capiz declared interest
of dengue cases in various regions including Calabarzon,” Regional Director Eduardo C. Janairo said. Janairo added,“In line with this, we’ll be assisting local government units [LGUs] through the Provincial Department of Health Offices (PDOHO) in every province in the conduct of anti-dengue activities such as the implementation of the enhanced 4S strategy.” In addition, the regional office will also intensify the health education and awareness campaign against dengue by conducting community assembly, meeting and distribution of IEC materials. Janairo added that a Dengue Task Force in the LGUs will also be reacti-
vated including the Dengue Fast Lane in all government and private hospitals. “We will be prioritizing areas for community-based intervention to control dengue vector such as areas where there is clustering of dengue cases, occurrence of an outbreak in the past year, recent dengue-related deaths, vector indicators and presence of cases in schools and hospitals.” he disclosed. He said they will also send Disease Surveillance Officers to investigate and validate reported dengue cases, especially the Dengvaxia vaccinees who have signs and symptoms of dengue. “There is still no vaccine for dengue. The best way to prevent dengue virus infection is to take the necessary precautions to avoid being bitten by mosquitoes and consult a doctor immediately if suffering from a high a fever,” Janairo advised. Claudeth Mocon-Ciriaco
Land Registration Authority (LRA). The law also reconstitutes HLURB into an independent quasi-judicial body called the Human Settlements Adjudication Commission, with the HSAC performing the HLURB’s adjudicatory functions over controversies involving real-estate development and sales to expedite the resolution of these cases. The law also provides for a National Human Settlements Board (NHSB) to exercise policy-making powers over corporations attached to the DHSUD. The regional offices set up by the DHSUD shall be a regional housing one-stop processing center that aims to streamline the processing of housingrelated permits, clearances and licenses. The DHSUD is also instructed to manage and oversee emergency post-disaster and shelter recovery, as well as climatechange adaptation and mitigation risk reduction interventions. The IRR was signed by HUDCC Chairman Del Rosario, HLURB CEO Lloyd
Christopher Lao, CSC Chairman Alicia dela Rosa-Bala, and DBM OIC Acting Secretary Janet B. Abuel. According to the IRR, the HUDCC chairman shall oversee the operations of the DHSUD until a department secretary is appointed by President Duterte and has assumed office. Sen. Christopher Lawrence T. Go said in his opening remarks that he has already submitted the National Housing Development, Production and Financing bill in the Senate as one of his top bills, to make the dream of housing for every Filipino come true. He noted a 7-million housing backlog in the Philippines. “I shall work hard to ensure that all initiatives, policies and plans of the President related to planning will have the optimum support of the Senate especially when it comes to the budget.... Naniniwala ako na dapat wala nang squatter dito sa ating bayan at wala nang pamilyang walang bahay [I believe there should be no squatter in our land, and no family should be homeless],” Go said. Rea Cu
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MMDA Chairman Francis Tolentino. The latter was earlier reported to be interested in key committee chairmanships but has since lain low. Asked in a separate viber interview with Senate reporters about committee distribution, as well as assignments of coveted seats in the Commission on Appointments and the Senate Electoral Tribunal, Sotto replied: “Madali na yun [Those are easy]. Those [seats] are assigned by party and group affiliations.” T he Senate President sa id comebacking Senator Pia Cayetano “made my life easier” in agree-
to become minority leader of the 18th Congress. For his part, Cayetano said that if elected, he would welcome full debates with members of the minority.
New positions
CAYETANO, meanwhile, is planning to create new key positions in the House of Representatives to ensure the passage of priorities of the 18th Congress. Cayetano said he will create new posts for Deputy Speakers for Finance, Economic Development, Internal Affairs and Education. According to Cayetano, he will create a Deputy Speaker for Economic Development to oversee the country’s economic affairs, industry and agriculture. He added a Deputy Speaker for Internal Affairs will be created and will be headed by Mandaluyong City Rep. Neptali Gonzales II. This position has the power to approve decisions that the Majority Leader thinks no longer requires the approval of the Speaker. “We want to put a Deputy Speaker for Finance, who we will meet regularly with [Committee on] Ways and Means, a Deputy Speaker for Education who will meet with Tesda, CHED [and] DepEd,” he said. Cayetano also named Duterte as deputy speaker for political affairs. But, he said, the current Deputy Speakers for Northern, Central, Southern Luzon, Eastern and Western Visayas, Southern and Northern Mindanao and Metro Manila would be retained.
Inflation. . . Continued from A1
put in place by the Department of Agriculture against El Niño; and easing global crude oil prices. However, the economists also raised concern over the adverse effect of weather conditions brought about by the weak El Niño condition, volatile global crude oil prices, higher domestic demand as potential upside risks to inflation. They also cited the weaker peso against the US dollar; higher government spending on infrastructure; and the potential impact of African swine fever on local pork prices as developments that could swing the growth of consumer prices upward. Also, by the end of the first half of the year, economists’ average inflation forecasts for 2020 and 2021 also declined. For next year, analysts see inflation hitting 3.2 percent from their end-March forecast of 3.4 percent. Similarly for 2021, the average inflation is expected to hit 3.1 percent from the earlier 3.4-percent projection. In its latest monetary policy briefing, the BSP said it had scaled down inflation forecasts to 2.7 percent on average for 2019, from the 2.9-percent projection made in May. For 2020, the projection was also scaled down to 3 percent from the 3.1 percent in the previous meeting. This view prompted the Monetary Board to keep its monetary policy settings unchanged to allow for a “prudent pause” in the monetary policy path. The latest inflation numbers show an average of 3.4 percent for the first half of the year after the growth of consumer prices grew 2.7 percent in June.
ing to take on the chairmanship of the Ways and Means Committee tasked to scrutinize new revenue measures needed to bankroll big-ticket projects of the Duterte administration. In a separate interview, Senator Aquilino “Koko” Pimentel III confirmed that the PDP-Laban bloc, which includes boxing champion Manny Pacquiao as member, is committed to support Sotto’s Senate presidency in the new Congress. Asked about aspiring House Speaker Alan Cayetano’s threat to push a bill cutting the six year-term of office of Senators to just three years similar to
their counterparts in the House of Representatives, Pimentel indicated it is not likely to prosper with Senate support. Cayetano was reported to have made the threat in a recent meeting with a group of congressmen, including ruling PDP-Laban stalwarts, in response to reports that some senators rejected his “term extension” proposal.. “It takes two to tango,” Pimentel said when sought for a reaction to Cayetano’s remark. Pimentel promptly pointed out, however, that he, too, “am open to cutting the terms of senators to four years with one or two reelections.”
Churchmen won’t be cowed by sedition raps–CBCP official By Samuel P. Medenilla @sam_medenilla
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N official of the Catholic Bishops’ Conference of the Philippines (CBCP) said the clergy will not be cowed by the latest apparent attempt by the administration to silence them. In a statement, CBCP-Public Affairs Committee Executive Secretary Fr. Jerome Secillano said church officials will continue to tell as it is when it comes to the administration’s performance. “This government may have already done some good things to the nation for which it deserves our applause. But, it hasn’t been always right in all things,” Secillano said. He issued the statement in response to the decision of the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) to file inciting to sedition cases against bishops and priests who are vocal critics of the Duterte administration’s war on drugs, based solely on the testimony of controversial whistle-blower Peter Joemel Advincula. Advincula claimed he is the alias “Bikoy” responsible for spreading the six-part video “Ang Totoong Narco List,” which linked Duterte and his family and friends to illegal drugs operations. He later tagged several opposition
GAIN report. . . Continued from A1
It estimated that there are more than 10,000 modern food retailers nationwide, led by Supervalue Inc. (SM) with 645 outlets. “ Three supermarket chains dominate the Philippines’s food retailing, but only account for 20 percent of total sales, with much of the rest comprising traditional food retailers. Supervalue [SM] is the market leader, followed by PureGold and Robinsons,” it said. “Other Supermarket chains include Metro Retail, Super8, WalterMart, AllDay Supermarket, and the warehouse clubs S&R Membership Shopping and Landers Superstore,” it added. Modern grocery retailers, such as hypermarkets, supermarkets and convenience stores, are starting to affect traditional grocery retailers such as sari-sari stores and wet
Growth. . .
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Philippines post a strong 2H GDP growth performance both on the consumption and investment front, which should help the economy return to and remain in an elevated growth path of 6 to 7 percent,” Mapa said. Economists over at Standard Chartered Bank also believe growth will bounce back to the 6 percent territory in the second half of the year and offset the disappointing numbers in early 2019. “We expect steady growth
figures, as well as church leaders among the ones responsible for producing the video. Secillano rejected the accusations hurled against the involved church officials, insisting on their credibility. “They are neither fighting the government nor Duterte. What they are against are the repressive policies that put so much burden on the poor and on those who oppose them. To be critical is not seditious. It is merely calling the attention of the government to be more circumspect and prudent in their actions,” Secillano said. Among the church officials facing sedition charges are Caloocan Bishop Pablo Virgilio S. David; retired Novaliches Bishop Teodoro Bacani Jr.; Cubao Bishop Honesto F. Ongtioco; LingayenDagupan Archbishop Socrates B. Villegas; Fr. Robert Reyes; and Fr. Albert E. Alejo. Secillano slammed the PNP for being selective in its investigation. “Why the CIDG didn’t investigate the accusations against Duterte and his family for their alleged involvement in the drug trade is dubious, yet left no stone unturned in maliciously implicating the bishops and priests when Bikoy strangely turned the tables on them,” Secillano said. “For the CIDG, it appears that Bikoy is lying in one, yet highly believable in another,” he added.
markets as they target the same consumers, the report said. “Among modern grocery channels, convenience stores serve as the biggest threat to traditional grocery retailers because they are targeting the same locations,” it said. “Convenience stores have several advantages over traditional grocery retailers, such as a wider assortment of products, air-conditioned outlets and dining stations,” it added. However, the report pointed out that the higher price tags of goods sold in convenience stores hinder its expansion over traditional retailers that still offer affordable items for consumers. “Overall, modern grocery retailers still have a long way to go to saturate the market,” it said. “The number of traditional grocery retailers in urban areas, especially Metro Manila, may slowly decline, but this format will remain particularly strong in the provinces and rural areas.” Jasper Emmanuel Y. Arcalas of 6.1 percent in 2019 as a better H2 offsets a weak H1. Support for H2 growth is likely to come from further monetary policy easing and a pickup in government infrastructure investment following the Q1 budget impasse,” Standard Chartered Bank Economist for Asia Chidu Narayanan said. “We expect inflation to fall below 2 percent in H2, giving Bangko Sentral ng Pilipinas [BSP] room to cut policy rates further. We see another 75 basis points of rate cuts this year, following an initial cut in May,” he added.
Bianca Cuaresma
The Nation BusinessMirror
www.businessmirror.com.ph
Editor: Vittorio V. Vitug • Monday, July 22, 2019 A3
Soldiers, cops to guard govt officials at Sona By Rene Acosta @reneacostaBM
& Jovee Marie N. Dela Cruz @joveemarie
A
UTHORITIES said about 14,000 policemen and a brigade-size military unit are tasked to protect government officials attending the fourth State of the Nation Address (Sona) of President Duterte and the Opening of the First Regular Session of the 18th Congress. “In regards to preparation, it’s already 100 percent,” Philippine National Police (PNP) chief Director General Oscar D. Albayalde said. “Even in the regions, we have forces that are on standby in case we will need reinforcements coming from the different regions.” According to Maj. General Guillermo Lorenzo T. Eleazar, he ordered 14,000 policemen under the National Capital Region Police Office (NCRPO) to be on alert. About 8,000 of them would secure areas within and around the Batasang Pambansa. Plainclothes policemen will double up the perimeter security and would also be deployed in areas where there would be rallies, he said. Military public affairs office chief Col. Noel Detoyato said that the Joint Task Force (JTF) NCR, a brigade-size military unit, will support the PNP and the NCRPO. “All troops of the [JTF] NCR are already committed in support
of the PNP while troops assigned at the general headquarters are on standby alert,” Detoyato said. “Other troops on standby will be placed under [JTF] NCR if ever they will be deployed.” The Armed Forces of the Philippines (AFP) is also now on red alert status to support the Philippine National Police. House of Representatives Sergeant-at-Arms MGen. (Ret.) Romeo Prestoza said on Sunday there have been no perceived substantial threats to the Monday’s event. Prestoza said that despite an absence of perceived threats, the House has “a very good coordination” with relevant intelligence units to evaluate any risks to the House or President Duterte during the Sona. He said the Presidential Security Group (PSG) would direct signal jammers for the Sona.
Final details
HOUSE Acting Secretary-General Dante Roberto P. Maling, chairman of the Steering Committee of Task Force Sona 2019, said the House is ready for its hosting job for the Sona. “We have ensured that all details have been considered,” Maling said. “These include the necessary internal and external security measures and requirements, protocol arrangements, parking restrictions, media coverage, other physical arrangements, prescribed
and required attire, and final reminders to guests particularly with regard to their invitations, seat cards and car passes, among others” he added. Detoyato said the military is hoping for a “safe, peaceful and successful conduct” of the Sona. “While the AFP has not monitored any threat from local terrorist groups, its forces will continue to be on a proactive stance against all threats of violence and will exert every effort to preserve the peace, particularly in the National Capital Region [NCR] where the seat of the government is in,” he said. The PNP earlier called on the rallyists to refrain from wearing jackets and carrying backpacks as precautionary measures following the suicide bombing on a military camp in Sulu more than three weeks ago. Authorities said the police will conduct random inspections during the Sona.
House rules
IN his latest advisory, Maling laid down the guidelines to ensure the safe and orderly conduct of Monday’s events. For the entry and exit from the House Complex, the “No Car Pass, No Entry” policy shall be in effect from 4 a.m. on Sona day. The Main/South Gate is for the exclusive entrance of vehicles of House Members, Senators,
Congressional Spouses and their backup, VIP guests, and House and Senate secretariat officials. The North Gate shall serve as the entrance gate of vehicles of invited guests, OB vans and generator sets, emergency vehicles (i.e., fire trucks, ambulances and military vehicles), House shuttle buses and vehicles with “DropOff ” passes. Only accredited members of media institutions wearing the official Sona 2019 Media IDs, together with their agency IDs, w il l be a l lowed entr y to the House Complex. The Main Gate, North Gate or Gate 2 (beside President Corazon C. Aquino Elementary school) would be closed at 4 p.m. These will be used as exit gates of vehicles after the Sona.
No Grab, Angkas
ALSO, motorcycles, taxicabs and transport network vehicle services are barred from entry to the House Complex, according to documents provided by Maling’s office. All parking spaces within the House Complex will be strictly for vehicles bearing color-coded car passes on a “First Come, First Serve” basis based on the parking plan. Secretar iat employees and congressional staff who wish to br i ng t he i r ve h ic les m ay avail themselves of the parking spaces at the Civil Ser vice Commission and the Batasan
National High School. In the morning of Sona day, countersigns (special stickers) will be issued to the following for access to restricted areas: House officials, employees, congressional staff, usherettes assigned at restricted areas, and close-in photographers of the President, Senate President and House Speaker. Live coverage, interviews and photo shoots by media personnel are allowed at the North and South Wing lobbies up to 3 p.m. only. For the Joint Session of Congress in the afternoon, the Advisory highlights that there will be a 1-kilometer “No fly zone” over the area of the House Complex from 1 p.m. to 6 p.m. At 1 p.m., the South Wing Lobby will be closed to all Secretariat employees, Congressional staff and visitors. Only Protocol Officers, in-House media personnel, authorized media and security personnel deployed at the lobby will be allowed to stay to welcome guests.
Reserved seating
A R R I V I NG Hou se Members, Senators, Congressional Spouses, VIPs and members of the Diplomatic Corps shall enter through the South Wing lobby or the North Wing lobby. All other guests, media personnel and visitors shall pass through the North Wing lobby. Entry to the Plenary Hall will be
strictly prohibited from 12 noon to 1 p.m. for final security inspection and clearing, except for RTVM personnel who will install the teleprompters and florists who will do the flower arrangements after the end of the Opening of the First Regular Session. The Plenary Hall will be opened to guests/visitors of the Joint Session at 2 p.m. The sliding doors at the Main Entrance of the Plenary Hall will be closed 15 minutes before the President and his party enter the session hall. Entrance doors at all three galleries will be closed at 3.30 p.m. Everyone in the Plenary Hall must be seated at 3.30 p.m. Senators, House Members, and guests arriving after the President has begun his Sona will be escorted to the North Lounge. The “No Invitation, No Seat Pass: No Entry” policy shall be enforced, according to documents provided by Maling. Reserved seating shall be strictly observed at the Middle, first and second galleries of the Plenary Hall. “Free Seating” is allowed only at the third gallery of the Plenary Hall. Cell phones, radio transceivers and other similar gadgets must be turned off while inside the Plenary Hall. Meanwhile, the “No Cocktail Pass, No Entry” policy will be strictly enforced at the South Wing lobby where a cocktail reception will be held.
A4 Monday, July 22, 2019 • Editor: Vittorio V. Vitug
Economy BusinessMirror
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Pinoy workers stage more strikes in Jan-May
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By Samuel P. Medenilla
were reported in the last two months.
@sam_medenilla
Root cause
HE incidents of labor strikes jumped in the first five months of the year and the number could continue to rise due to the government’s unclear policy on contractualization. From just three cases in January to May 2018, the recent Alternative Dispute Resolution report of the National Conciliation and Mediation Board (NCMB) indicated that the number of work stoppages this year rose to 10. Of the 10 cases of work stoppages, three were pending since 2018, while seven were filed this year. The report noted that 90 percent of strikes were due to alleged unfair
labor practices, such as union busting and illegal dismissal. “Eight work stoppages have been settled/disposed. Two cases remain pending and are subject of conciliation-mediation services as of May 31, 2019,” the NCMB said. The 10 strike cases involved 925 workers and resulted in 20,985 man-days lost. The Philippine Statistics Authority (PSA) defines man-days
LABOR groups march along España Street in Manila in this 2018 BusinessMirror file photo.
lost as the total number of working days lost of workers involved in a strike/lockout declared. Notices of strikes also went up during the first five months of the year to 129, from 113 in the same period last year.
Neda: Easing restrictions on sugar imports requires careful study By Cai U. Ordinario @caiordinario
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HE Executive branch aims to complete a six-month study before drafting a bill on liberalizing the Philippine sugar sector, according to the National Economic and Development Authority (Neda). Neda Undersecretary for Policy and Planning Rosemarie G. Edillon recently told reporters the Neda is now preparing the terms of reference (TOR) for the study. Edillon said the study will be done by a group of economists and agriculturists and other experts, and will likely be completed early 2020. “We want to undertake a very intensive and extensive study before we even come up with the draft bill. We have to study it [sugar liberalization] first,” Edillon said. The Neda official said she could not yet say whether the changes to be introduced through a draft bill to liberalize the sugar sector will be similar to what the government did to the rice sector. Unlike the rice sector, Edillon said only a few studies on liberalizing the sugar industry were conducted. This is the reason why the
government is prioritizing research before drafting a bill. Earlier, Socioeconomic Planning Secretary Ernesto M. Pernia said liberalizing the sugar sector will be included in the priority bills of the Duterte administration for the 18th Congress. Pernia said the liberalization of the sugar industry will help bring down the cost of the sweetener, similar to what the administration did with rice through tariffication. The sugar sector is currently being regulated by the Sugar Regulatory Administration (SRA), a government-owned and -controlled corporation that was created by virtue of Executive Order (EO) 18 issued by former President Corazon C. Aquino. The SRA is tasked to issue permits and licenses, as well as collect fees and levies on the processing and manufacture of sugar and its by-products. EO 18 was strengthened by Republic Act 10659 or the Sugarcane Industry Development Act (Sida) of 2015. Under Section 9, the SRA is tasked to classify imported sugar to meet domestic sugar requirements. Under the Sida, the Bureau of Customs will also require importers or consignees to secure from the SRA the classification of the imported
Panglao. . . continued from a1 and Local Government (DILG), Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB) and Department of Tourism (DOT) inspected the island recently. The source explained there is “some confusion” as to which easement regulation should be followed. The national regulation for easement on beaches is 20 meters, but the LGU had issued its own ordinance sometime ago, adding another 10 meters for the no-build zone. “Definitely, no one was able to comply with the 30-meter easement ordinance,” said the source. The government source added that the quality of the water around the island “has generally improved, but sometimes there is a spike [in fecal coliform levels], because when it rains, this sometimes affects the sampling.” He said the water samples are also affected by the pump boats which throw their garbage into the waters. He declined to say which areas of Panglao recorded the spikes in fecal coliform contamination. A report from the DILG obtained by the BusinessMirror showed the water sampling conducted by EMB-7 (Central Visayas Region) last April showed “fecal coliform in six stations are found to be within standards. However, the results from stations 4, 5, 6 and 8 failed or [were] below the normal water quality standard.” Stations 4, 5, 6, 8 are Danao 2 (540 most probablynumberper100milliliter),Danao 3 (540 mpn/100 ml), Tawala 1—where
sugar prior to its release. The Philippine Food Exporters Inc. (Philfoodex) has been appealing to the government to expedite measures that will deregulate sugar trade and allow the open importation of the staple. Philfoodex President Roberto C. Amores said small firms are most injured by the import restriction, as it makes them less competitive in Southeast Asia. He claimed refined sugar in Thailand is priced between P31 and P34 per kilo, cheaper than the P60 to P65 per kilo range in the Philippines. Food processors are hoping the government can make good on its commitment to liberalize sugar trade, as pronounced in January by then-Budget Secretary and now Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno. However, National Federation of Sugar Workers Secretary-General John Milton Lozande warned that this could result in the displacement of over 700,000 sugar workers and 75,000 planters. Lozande said removing restrictions on sugar imports could result in more job losses in agriculture. Job losses in the sector from July 2016 to July 2018 reached 1.8 million.
Alona Beach is located (240 mpn/per 100 ml) and Tawala 3 (540 mpn/100 ml). The source noted that a number of resorts have also grouped themselves to invest in common sewerage treatment plants, to address the water pollution problem in the island. “They are doing it right now. The������������������������� DENR�������������������� and EMB are providing technical advice to them,” he added. He said members of the inspection team recommended to their respective department heads the adoption of the suggestion of the Panglao LGU for government “to issue a specific executive order, like the one which created the Boracay Inter-Agency Task Force,” to enforce the laws and ordinances needed to rehabilitate the island. He explained that this would prevent resorts from haling to court the LGU and government agencies, when implementing the law. The source didn’t say if a closure of the contaminated areas was proposed by the inspection team. With the recent inauguration of the Panglao International Airport, government officials involved in the rehabilitation of the island have been hesitant to force a total closure of Alona Beach as this would affect tourist arrivals. Last November, after an interagency task force chaired by Environment Secretary Roy A. Cimatu inspected the island, the popular beach named after a 1970s-era sexpot was ordered closed, and then reopened sometime after. In 2017, visitor arrivals in Bohol reached 1.1 million, of whom over 700,000 made their way to Panglao.
More than half, or 71 of the cases, were already resolved, while 58 were still pending as of May 31. The figures cited in the report did not yet include the strikes staged by workers of Zagu Food Corp. and Pepmaco Manufacturing Corp., which
L A B OR A s s i s t a nt S e c re t a r y Benjo M. Benavidez said a large number of union-busting allegations is still rooted in the issue of contractualization. He cited the case of Pepmaco, where a militant labor group decided to organize the agencyhired employees of the soap and detergent manufacturer. However, the labor official said the government has yet to establish that the agency-hired workers of Pepmaco are victims of illegal labor-only contracting, which will qualify them for regularization. “This is also similar to the case of NutriAsia and Sumifru cases earlier this year,” Benavidez referring to work stoppages mounted by contractual workers in the two companies in 2018.
Benavidez said the confusion over which positions should be regularized and could be contracted out will be resolved by the pending Security of Tenure (SOT) bill. Ironically, the SOT bill, which would make it easier for both management and labor to determine positions that could be contracted, is being opposed by business and labor groups. Employers said it will remove their “flexibility” in exercising contractualization, while labor groups said it is a watered-down bill as it still allows the contractual arrangement, which they oppose. Despite the objections of business and labor groups, Benavidez said the Department of Labor and Employment is hopeful President Duterte will still recognize the benefits of the SOT bill and choose to sign it into law. “The bill will address the root cause of many labor disputes,” he said.
Building resilient communities still top priority–Cimatu By Jonathan L. Mayuga @jonlmayuga
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HE Duterte administration will continue to pursue policy reforms aimed at strengthening the country’s resilience to the impacts of climate change, according to the Department of Environment and Natural Resources (DENR). As the country braces itself for more strong typhoons, Environment Secretary Roy A. Cimatu said building resilient communities remains a top priority for the government. Cimatu attended a pre-Sona (State of the Nation Address) forum held in Davao City on July 17. Key members of the President’s Cabinet met to discuss highlights of the administration’s accomplishments and its priority programs for the next three years. The DENR chief said the Duterte administration will continue to pursue reforms that integrate climate and disaster risk considerations into development policies, strategies, plans and programs. Cimatu said the DENR will continue to coordinate closely with other line agencies under the Cabinet Cluster on Climate Change Adaptation, Mitigation and Disaster Risk Reduction to ensure that they work together toward the goal of
establishing adaptive and resilient communities. The DENR chief cochairs the cluster with Defense Secretary Delfin Lorenzana, while the Climate Change Commission acts as the cluster secretariat. Cimatu said the Cabinet cluster supports the creation of the Department of Disaster Resilience and other legislative proposals that promote disaster and climate resilience, such as the proposed National Land Use Act, Land Administration Reform Act, Integrated Coastal Management Act and National Building Code of the Philippines. He said the establishment of a department devoted to disaster resilience is necessary to help the government manage broader climatedisaster governance arrangements, and oversee the implementation of disaster risk, and vulnerability reduction and management. Cimatu said the government will provide the ability to generate, synthesize and disseminate knowledge, methodologies and decision-making tools to ensure climate resilience. He said the Department of Science and Technology (DOST) commits the installation of more than a dozen doppler weather radars and high-frequency Doppler radar networks in various parts
SRP. . . continued from a12 President Duterte is expected to emphasize his administration’s policy on sustainable tourism in his State of the Nation Address today. Meanwhile, the government source said “stakeholders [in Panglao have been] alerted that they cannot be accredited by the DOT unless they have complied with the environmental requirements. So a lot of them are fixing their ECCs [environmental compliance certificates].” As of May 31, 2019, there were 11 resorts and 23 Mabuhay accommodations in Panglao Island and Alona Beach that are accredited by the DOT, as per data provided by DOT-Region 7. The interagency task force chaired by Cimatu, which closed Boracay Island for six months in 2018, has been monitoring several tourism destinations such as El Nido and Coron in Palawan, Siargao in Surigao del Norte, Panglao Island, as well as Baguio City for violations of environmental, local government and tourism laws Boracay Island is still undergoing rehabilitation and was recently inundated by floods brought by rains from a typhoon. Government’s drainage projects have yet to be completed. Also, a separate government source recently said the DILG will be recommending the closure of Bacuit Bay and the Corong-Corong outfall in El Nido, and prohibiting water activities for three months. (See, “‘DILG to recommend El Nido closure,’” in the BusinessMirror, July 15, 2019.) Ma. Stella F. Arnaldo
“We will come up with the SRP [suggested retail price for rice], because beyond that is profiteering,” he added. According to Piñol, the Department of Agriculture is now drafting a joint memorandum of agreement with the DTI to strictly implement the provisions of the Price Act related to the SRP. The MOA will be signed this month. “Traders are eager to import because they believe that no entity will regulate prices. The margin of profit is too huge for importers, but this was not the intent of the law. The intent is to make affordable rice available to consumers,” he said in a mix of English and Filipino. “As for the SRP for imported commercial rice, the government will set it based on the landed cost. The DTI, the Department of Finance and the National Economic and Development Authority will come up with a computation,” he added.
‘Doubtful’ data
THE FFF also questioned the claims of some government officials that the new law had resulted in a significant decline in rice prices. While retail prices declined from last year’s levels, the group said the figures were higher than the average quotations recorded in 2016 and 2017. In pushing passage of the law, the country’s economic managers then claimed that local consumers were paying double what their Southeast Asian counterparts were paying for rice. They also said rice prices could go down by up to P10 per kilogram once imports are allowed to freely enter the country. Citing Philippine Statistics Authority (PSA) data, FFF said the average price of well-milled rice declined to P42.92/kg in June, or by about P6/kg from the peak price of P49.36/kg in September 2018. Also, the average retail price of regular-milled rice dropped by P7.54/kg during the same month.
of the country. The DOST, he added, is also set to install several flood forecasting and warning systems in major river basins, a borehole seismic station in Kanlaon Volcano in Negros Island, and probabilistic seismic hazard analysis in Metro Davao. “With the help of Congress, we intend to adopt a national land use policy that will optimize balanced development,” he said. “We hope to achieve this through rational and just allocation, utilization, management and development of our country’s land resources under the proposed National Land Use Act.” This policy, he said, will be complemented by the planned delineation of forest limits, which would enable the DENR to sustainably manage, conserve and protect the country’s remaining forests from further depletion. Cimatu said the cluster will also work for the swift enactment of the Integrated Coastal Management Act, which would ensure optimum and sustainable resource utilization of the coastal and marine environment. The cluster, he said, supports the proposal to prohibit the conversion of irrigated lands as it would address the threats to the country’s food security.
“What is interesting to note, however, is that the present retail prices of rice are actually higher than in 2016 and 2017, when the quantitative restrictions on rice imports were still in effect and RA 11203 had not yet been passed,” Montemayor said. He noted that the spike in prices last year was abnormal, and was caused by the refusal of economic managers to allow the National Food Authority (NFA) to replenish its dwindling stocks. “It was only when President Duterte intervened and allowed the NFA and the private sector to import that prices started to go down. Therefore, it is unrealistic to compare current prices against prices during the rice crisis in 2018. It is also deceptive to attribute the current decline in prices to the rice tariffication law,” he said. FFF also said farm-gate prices of palay have gone down much faster than the decline in the retail prices of the staple. Citing PSA data, FFF said palay prices fell by 23 percent to P17.85/kg in June, from P23.15/kg in September 2018. Compared to rice prices, retail quotations declined by 13 percent and 16 percent for well-milled rice and regular-milled rice, respectively, in the same period. The group added that palay farm-gate prices were generally lower in 2019, compared to prices in 2016 and 2017 when the import restrictions were still in place. “What is most painful to farmers is that their sacrifices are apparently going to waste because consumers are not getting the full benefits from the decline in palay prices and the entry of supposedly cheaper imports,” Montemayor said. “The PSA data in fact appears to show that both consumers and farmers were better off when the quantitative restrictions were still in place, if we exclude the abnormal price movements in 2018,” he added.
Agriculture/Commodities BusinessMirror
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Editor: Jennifer A. Ng • Monday, July 22, 2019 A5
Duterte told to roll out better farm policies
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By Bernadette D. Nicolas
@BNicolasBM
XPERTS are urging President Duterte to use his fourth State of the Nation Address (Sona) on Monday to push for better agricultural policies, as well as Charter change to further boost the country’s economic growth. Bold reforms will address the structural weaknesses of Philippine economy, including low agricultural productivity and anemic agricultural growth, according to Foundation for Economic Freedom (FEF) President Calixto V. Chikiamco. “The administration should go beyond populist measures like free irrigation and free fertilizer,” Chikiamco said in an e-mail to the BusinessMirror. “It should create a favorable environment for agribusiness investments in the countryside by removing the retention limit of 5 hectares for agricultural land under the Comprehensive Agrarian Reform law.” The 5-hectare retention limit, he said, leads to fragmentation of rural land which limits the application of economies of scale and modern agricultural methods. The President should also talk about mangrove replanting and coral rehabilitation to restore the country’s fishing grounds, as well
as reforestation to mitigate floods, said former Socioeconomic Planning Secretary Romulo Neri. “[I would like to hear him mention] agroforestry to make upland areas productive in an environmentally sound way, and river dredging and restoration to let floodwaters flow away quickly,” Neri added. He said the President should consider relocating the national capital to the Lucena-Pagbilao area in Quezon province so it could be accessible to those in the Bicol region and the Visayas. “The President may also hint at emergency powers to fast-track infrastructure and reforms, and also call on the COA [Commission on Audit] and Ombudsman to be less repressive to remove fear of action [among government officials],” said Neri.
Charter change
MICHAEL HENRY LL. YUSINGCO, nonresident research fellow at the
Ateneo School of Government, said he is keeping his fingers crossed that the President will talk about Charter change in his Sona. “I hope the President gives a clear mandate or directive on whether or not he wants to pursue Charter change. If he decides to push for Charter change, I also hope that he gives a clear and coherent road map. If he believes Charter change is no longer part of his agenda, then he must unequivocally say so,” Yusingo said in an e-mail to the BusinessMirror. Chikiamco noted that there is a need to ease foreign investment restrictions indicated in the Constitution, and to amend or scrap laws that tend to discourage foreign investments. The FEF official said he supports the economic managers’ push for amending the Public Service Act, liberalizing the Foreign Investment Negative List and amending the Retail Trade Liberalization Act, which is expected to lower capital requirements. Reforms that will also boost exports, such as the liberalization of sugar imports, must be pursued given the ballooning trade and current account deficits. “Increased consumption and capital spending have led to massive imports without a corresponding increase in exports,” he said, adding that the country imports cement, fertilizer, rice, meat and even fish, which is “ironic” for an archipelagic country. To keep up with the Fourth Industrial Revolution, Chikiamco
BUSINESSMIRROR FILE PHOTO
said, government must consider amending the Labor Code. “Artificial intelligence and other digital technologies will disrupt many industries and make traditional jobs obsolete. Therefore, industry should be given flexibility in labor rules to adjust to this new reality and also to get incentives to invest in upgrading the skills of the work force,” he said. “In this regard, the President should call for the passage of the labor apprenticeship law, which will incentivize industry to invest in the training and education of new graduates. Without modernizing the Labor Code, manufacturing will remain stunted and cannot generate the good paying jobs that
would lift the working poor out of poverty,” he added.
Foreign policy
WHILE it is widely expected that the President will highlight the “Build, Build, Build” program and the implementation of new laws, such as Republic Act 11203, analysts are also looking forward to his statement regarding the Recto Bank incident. De La Salle University Economics Prof. Maria Ella C. Oplas said it is “a must” for the President to give a “clearer picture” of his international policies especially when it comes to China. “I think that is the most important thing that must be settled in
this year’s Sona,” Oplas told the BusinessMirror. Yusingco expressed confidence that the President is ready to explain his response to the Recto Bank incident, as well as his “unilateral” decision to allow the foray of Chinese fishers into the country’s exclusive economic zone. “If the President goes off-script and goes extemporaneous, he will most likely rant about his critics, specifically those who question his acquiescence to China with regards to the latter’s intrusion in the West Philippine Sea. He will certainly attack those who accuse him of betraying his oath of office and those who have threatened him with impeachment,” he said.
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Monday, July 22, 2019 • Editor: Angel R. Calso
The World BusinessMirror
US concerned over China’s actions in South China Sea
IN this July 4, 2019, photo, magazines with front covers featuring Chinese President Xi Jinping with South China Sea and Xi against US President Donald J. Trump are placed on sale at a roadside bookstand in Hong Kong. The United States said it’s concerned by reports of China’s interference with oil and gas activities in the disputed waters of the South China Sea, where Vietnam accuses Beijing of violating its sovereignty. AP PHOTO/ANDY WONG
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ANOI, Vietnam—The United States said it’s concerned by reports of China’s interference with oil and gas activities in the disputed waters of the South China Sea, where Vietnam accuses Beijing of violating its sovereignty.
Goldman says 4,000 conference calls show dimmer US outlook
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ENTIMENT expressed in public communications by the biggest American companies slumped in June to the lowest level in at least a year, driven by negative mentions of economic growth and international relations, according to a Goldman Sachs Group Inc. analysis. The report on Friday outlined findings drawn from 4,000 earnings and conference call transcripts by S&P 500 companies over a year, and showed that sentiment measured by its index closely tracked Institute for Supply Management (ISM) reports and regional business activity surveys. The sentiment score was calculated by evaluating the orientation of each word, then measuring the difference between the share of positive words and negative words. “While the negative mentions of uncertainty and profits have increased somewhat, there has been a disproportionate rise in the appearance of growth and international relations in a pessimistic context,” Goldman economist Ronnie Walker wrote in the report. “There has been a sharp increase in negative mentions of our growth topic, which is consistent with slower domestic growth.” Walker noted a “sharp increase in negative mentions” of growth, consistent with slower domestic growth. International relations, including references to foreign countries and trade, were less prominent than other topics, but negative words had surged, “and appeared responsive to the slowdown in global growth and continued escalation
of trade tensions.” As an example, Walker cited an earnings call with a particularly negative score from a company that said earnings were “pretty ugly,” with results negatively affected by unexpectedly high losses and severe stockmarket declines—language that matches February comments by Loews Corp. Chief Executive Officer James Tisch. A positively scored call noted “overwhelmingly positive” customer response and a “very encouraging” outlook. ISM’s US factory gauge posted the third-straight decline in June, falling to the weakest level since 2016 as new orders stalled. Federal Reserve regional factory surveys also weakened during the month. At the same time, recent manufacturing gauges for July have picked up. The Philadelphia Fed’s index soared by the most in a decade while New York’s also improved in July. Despite the preponderance of sour assessments, Walker said the two July manufacturing surveys signal that sentiment may turn a corner, and growth fears are likely to abate given projections for a slight acceleration over the next year as financial conditions improve. “While we also expect global growth to stabilize and some form of a trade agreement with China, it seems somewhat less likely that the international relations bucket will return to its previous level,” Walker wrote. “Analyst commentar y signals a more persistent rise in broad trade war risk, which could continue to weigh on sentiment.” Bloomberg News
State Depar tment Spokeswoman Morgan Ortagus said in a statement that China’s “repeated provocative actions aimed at the offshore oil and gas development of other claimant states threaten regional energy security, and undermine the free and open IndoPacific energy market.” Vietnam on Friday demanded China to remove a survey ship from Vanguard Bank, which it says
lies within Vietnam’s 200-mile exclusive economic zone. China claims the South China Sea almost in its entirety and has rattled smaller neighbors by constructing seven man-made islands in the disputed waters, and equipped t hem w it h mi l itar y r unways and outposts. Chinese coast guard vessels also have been reported near a drilling rig in the same Vanguard Bank area where Vietnam has contracted Russia’s Rosneft to develop gas fields. “Vietnam has made contact with China on multiple occasions via different channels, delivered diplomatic notes to oppose China’s violations and staunchly demanded China to stop all unlawful activities, and withdraw its ships from Vietnamese waters,” Vietnam’s Foreign Ministry Spokeswoman Le Thi Thu Hang said in a statement Friday. C h i nese Foreig n Mi n i st r y Spokesman Geng Shuang earlier in the week urged Hanoi to respect China’s sovereign rights and jurisdiction, “and not to take any move that may complicate matters.” In May 2014, Chinese and Vietnamese vessels engaged in a dangerous confrontation when China’s national oil company moved its oil platform into waters Vietnam considers its territory. Ortagus calls on China to “cease its bullying behavior and refrain from engaging in this type of provocative and destabilizing activities.” AP
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Japan votes for upper house; Abe’s party seen as favorite
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OKYO—Japanese were voting on Sunday in an election for the upper house of parliament, where Prime Minister Shinzo Abe’s ruling bloc is expected to keep the majority. Up for grabs are 124 seats in the less powerful of Japan’s two chambers that doesn’t choose the prime minister. There are 245 seats in the upper house, about half of which are elected every three years. Media polls have indicated Abe’s ruling bloc is expected to keep the majority, as most voters consider it as a safer choice over an opposition with uncertain track records. Opposition parties have focused on concerns over household finances, such as the impact from an upcoming 10-percent sales tax increase and strains on the public pension system amid an aging population. Abe has led his ruling Liberal Democratic Party to five consecutive parliamentary election victories since 2012. Abe has prioritized revitalizing Japan’s economy and has steadily bolstered the country’s defenses in the backdrop of North Korea’s missile and nuclear threats, and China’s growing military presence. He has also showcased his diplomatic skills by cultivating warm ties with President Donald J. Trump. Abe hopes to gain enough seats to boost chances for a constitutional revision, his long-cherished goal before his term ends in 2021.
But Abe and his conservative backers also face challenges because voters seem more concerned about their jobs, the economy and social security. In order to secure two-thirds in the upper house, Abe’s ruling bloc and supporters need 85 seats. Media surveys have indicated that Abe’s LDP and its partner Komei are expected to win a majority, but are less certain to secure a supermajority. The main opposition, Constitutional Democratic Party of Japan and three other liberal-leaning parties, teamed up in some districts. They have also stressed support for gender equality and LGBT issues—the areas Abe’s ultra-conservative lawmakers are reluctant to back. At a polling station in Tokyo’s Chuo district, voters were divided over Abe’s 6 1/2-year rule. A voter who identified himself only as a company worker in his 40s said he chose a candidate and a party that has demonstrated an ability to get things done, suggesting he voted for Abe’s ruling party and its candidates, as “there is no point in casting my vote for a party or a politician who has no such abilities.” A not her voter, K at su nor i Takeuchi, 57-year-old fish market worker, said it’s time to change the dominance of Abe and his ultraconservative policies. “I think the ruling party has been dominating politics for far too long, and it is causing damage,” he said. AP
Female suicide bomber strikes hospital in Pakistan, 9 killed D
ERA ISMAIL KHAN, Pakistan—A female suicide bomber struck outside a hospital in Pakistan on Sunday as the wounded were being brought in from an earlier shooting against police, in a complex assault claimed by the Pakistani Taliban that killed a total of nine people and wounded another 30. Salim Riaz Khan, a senior police officer in Dera Ismail Khan, said gunmen on motorcycles opened fire on police in a residential area, killing two. He says the bomber then struck at the entrance to the hospital, killing another four police and three civilians who were visiting their relatives. He said eight police were among the wounded, and that many of the wounded were in critical condition. Inayat Ullah, a local forensics expert, said the female attacker set off 7 kilograms (15 pounds) of explosives packed with nails and ball bearings. The blast damaged the emergency room and forced it to shut down, according to a hospital official, who said the wounded were taken to a military hospital. The official spoke on condition of anonymity for fear of reprisal. The Pakistani Taliban claimed the attack but did not acknowledge that the bomber was a woman.
HOSPITAL workers gather at the site of a bombing, on an entrance of a hospital in Dera Ismail Khan, Pakistan, on Sunday, July 21, 2019. Police in Pakistan say gunmen opened fire on a police post and then bombed the entrance to a hospital as the wounded were being brought in. AP PHOTO/ISHTIAQ MAHSUD
The group has launched scores of attacks going back nearly two decades, but almost all of them were carried out by men. Pakistan’s military has carried
out several major operations in recent years against the Pakistani Taliban and other militants in areas along the porous border with Afghanistan. The violence has de-
clined, but the militants still make their presence known through occasional attacks, mainly targeting security forces and religious minorities. AP
Death toll rises to 15 in Chinese gas plant explosion
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EIJING — Authorities in central China said on Sunday the death toll in a gas plant explosion has risen to 15, with another 15 seriously injured. Three people who were previously missing have been found dead, said local authorities. About 270 fire-
fighters and rescue workers have completed three rounds of search and rescue since the Friday evening explosion in Yima city in Henan province, China’s Ministry of Emergency Management said. The blast shattered windows 3 kilometers (2 miles) away and
knocked off doors inside buildings, Chinese state media reports said. The official Xinhua news agency says the explosion occurred in the air separation unit of the Yima gas factory of the Henan Coal Gas (Group) Co., Ltd. It said that all production had stopped.
China experiences frequent industrial accidents despite orders from the central government to improve safety at factories, power plants and mines. More than 60 people died in March in a chemical plant explosion in eastern Jiangsu province. AP
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Turkey steps up drilling activities around Cyprus
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ICOSIA, Cyprus—Turkey’s vice president said on Saturday that his country is dispatching a survey vessel to join two drill ships and another research boat to search for hydrocarbons off ethnically divided Cyprus. Turkey will “never submit” to sanctions imposed by the European Union over its drilling in those waters and won’t hesitate to defend its energy rights and the rights of Turkish Cypriots, Vice President Fuat Oktay said. The EU has said Turkey is breaching international law by drilling in waters where member-nation Cyprus has exclusive economic rights. Oktay was speaking at celebrations marking the 45th anniversary of the 1974 Turkish invasion of the east Mediterranean island nation that followed a coup mounted by supporters of union with Greece. In a letter to the Turkish Cypriot leader commemorating the anniversary, Turkish President Recep Tayyip Erdogan said his military would not hesitate to act again in Cyprus if necessary. “No one should doubt that the glorious Turkish military, which does not consider Cyprus any different from its own homeland, will not hesitate, if needed, to once again take the step it took 45 years ago when it comes to the Turkish Cypriots’ lives and safety,” Erdogan wrote. But Erdogan said Turkey also would work for a “fair and lasting resolution” in Cyprus. The island nation’s internationally recognized government is seated in the southern, Greek Cypriot side of Cyprus. A declaration of independence by Turkish Cypriots in Cyprus’s northern third is recognized only by Turkey, which maintains more than 35,000 troops there. AP
Monday, July 22, 2019 A7
Iran’s poking at West heightens risks of military miscalculation
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ASHINGTON—Rather than tangle with a stronger US military, Iran is poking and prodding its Western antagonists in ways apparently designed to avoid triggering war, but that nonetheless seem to heighten the risk of missteps and miscalculation that could lead to an armed conflict with global consequences. The tensions picked up on Friday with Iran reporting it had seized a British-flagged oil tanker in the Persian Gulf, one day after the US said it destroyed an Iranian drone that had flown within threatening range of an American warship in the Strait of Hormuz. In June the Iranians shot down a US Navy drone in the same area, prompting President Donald J. Trump to authorize a military strike on Iran, only to call it off at the last moment. Trump’s response to the latest escalation in the Gulf captured both the urgency and the unending difficulty of dealing with the Islamic Republic. “Trouble, nothing but trouble,” Trump told reporters when asked about Iran’s Revolutionary Guard saying it had seized a British tanker.
From Iran’s point of view, the real trouble is Trump, who withdrew the United States last year from a 2015 nuclear deal that offered new hope for Iran’s faltering economy. The British government said the Iranians had seized two vessels, but Iran later said the second ship had departed Iranian waters. The Iranians said the seizure was in response to Britain’s role in impounding an Iranian supertanker two weeks earlier. The incidents highlighted the precarious state of maritime security in the Gulf and reinforced the Trump administration’s argument for launching a new effort to intensify the monitoring of commercial shipping in and around the Gulf, which handles a large volume of
international oil traffic. The administration is organizing what it calls Operation Sentinel with like-minded nations to deter Iran from interfering with commercial shipping. In the meantime, US Central Command said on Friday it put additional patrol aircraft into international airspace in the Strait of Hormuz to monitor the situation. A spokesman, Lt. Col. Earl Brown, said US Naval Forces Central Command was in contact with US ships operating in the area to “ensure their safety.” The US is also sending American forces, including fighter aircraft, air defense missiles and likely more than 500 troops, to a Saudi air base that became a hub of American air power in the Middle East in the 1990s. Putting US combat forces back in the kingdom after an absence of more than a decade adds depth to the regional alignment of US military power, which is mostly in locations on the Persian Gulf that are more vulnerable to Iranian missile attack. The high-stakes sparring between Iran and the West is playing out while diplomats maneuver for the real prize: new negotiations to put tighter and longer-lasting wraps on Iran’s nuclear program in exchange for relief from economic sanctions that are strangling Iran’s already weak economy. Trump believes the international agreement he withdrew from is too short-term and too narrow because
it does not address Iran’s ballistic missile program and its support for extremist militias across the Middle East. His administration has imposed additional sanctions on Iran, including ending a waiver on penalties against nations that buy Iranian oil. Iran’s foreign minister, Mohammad Javad Zarif, hinted this past week at Tehran’s interest in a diplomatic solution. He said Iran would be willing to move up parliamentary ratification of an agreement it made with the International Atomic Energy Agency that outlined the agency’s access to Iranian nuclear sites and other information. He said this could be done before the scheduled 2023 ratification if the United States eased sanctions. The Trump administration showed no immediate interest in that offer, but senior officials, including Trump, periodically emphasize their hope that war is avoided and that both sides can take the preferred diplomatic path. “We need them to come to the table,” Secretary of State Mike Pompeo said at the State Department on Friday. “It’s the right way to resolve these challenges.” Critics question whether the administration has a viable approach to Iran that can be executed without pushing the US toward war. “My fundamental question to this administration is: What is the strategy? I know that it is about
maximum pressure, but to what end?” said Wendy Sherman, the former undersecretary of state for political affairs who helped the Obama administration negotiate the 2015 nuclear deal. She said on Friday at the Aspen Security Forum in Colorado that she believes the Iranians are weighing the likelihood that they will have to deal with Trump beyond 2020. “If they think he will be reelected or think there’s a good chance that he will be, I think we will continue to see proposals from the Iranians,” she said. The administration faces pressure from members of its own party in Congress to take more aggressive action to punish Iran. “The ayatollahs will continue their campaign of terror as long as we let them,” said Sen. Tom Cotton, R-Ark. “Outrageous and lawless acts, such as this hijacking call for international condemnation and punishment.” Trump suggested US pressure is hitting Iran’s economy so hard that Iran will be forced at some point to come to the negotiating table. “Iran is in big trouble right now,” he said. “Their economy is crashing. It’s coming to a crash. They’re trying to bring soldiers back home because they can’t pay them. A lot of bad things are happening to them. And it’s very easy to straighten out or it’s very easy for us to make it a lot worse.” AP
Gulf tanker incidents may raise shippers’ costs, reduce traffic ships in the region have ordered their vessels to transit Hormuz only during the daylight hours and at high speed. But only a handful of the companies have halted bookings. The tensions in the Gulf also pushed oil prices slightly higher. Brent crude, the international standard, rose 0.9 percent to $62.47 a barrel on Friday, while benchmark US crude gained 0.6 percent to settle at $55.63. Goldstein said the fact that oil prices haven’t risen more reflects an overly calm attitude in a market that feels it “doesn’t know what’s happening and...will play it very close to the vest day to day. There is very little forward planning going on.” The risk to global oil markets “looks acute no matter how you slice it,” said Kevin Book, managing director of Clearview Energy
IN this May 2, 2013, file photo, the Liberian-flagged oil tanker Mesdar is seen at an unknown location. British Foreign Secretary Jeremy Hunt confirmed on Friday, July 19, 2019, that Iran had seized one British, the Stena Impero, and one Liberian-flagged vessel, Mesdar, in the Strait of Hormuz. It was the latest escalation of tension in the strategic waterway that has become a flash point in tensions between Tehran and the West. AP
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EIZURES of oil tankers and other hostile Iranian measures in the Strait of Hormuz are already raising insurance rates for shipping companies and could eventually reduce tanker traffic in the vital waterway, with a spike in global oil prices a serious risk even without war, energy and maritime, experts say. On Friday, Iran seized a British-flagged oil tanker in the narrow passageway that carries one-fifth of the world’s crude exports and a second Liberian-flagged ship was briefly detained. Britain’s foreign minister promised a “considered but robust” response. “If this kind of problem continues, you might see people start to shy away from the [Persian] Gulf or try to reflag—not be a British tanker,” said energy economist Michael Lynch. The near-term impact will fall most heavily on the shipping industry in the form of higher insurance rates, said Lynch, president of Strategic Energy &
Economic Research Inc. Richard Nephew, a Columbia University researcher who wrote a book on sanctions, agreed that the tanker seizure and a pair of minor but mysterious attacks on tankers that preceded it—and for which Iran denied responsibility—could create “a real risk premium” for companies that operate in the Gulf and insurers that underwrite them. Lawrence Brennan, a maritime attorney and Fordham University professor, said on Saturday that so-called war risk maritime insurance rates have already risen since May—and Iran could wreak havoc with global oil supply were it to decide to mine the strait or otherwise move to choke other nations’ oil exports through Hormuz. The risks will only rise because Iran’s leaders, as their economy strains under US sanctions, “feel they have little to lose if they are mischievously provocative” and engage in sabotage, intimidation and other acts short of war, said Larry Goldstein,
director of special projects and former president of the industry-backed Energy Policy Research Foundation. “This could get out of hand, easily out of hand, and it’s hard to know where this is going to go.” On Friday, Iran’s Revolutionary Guard impounded the British tanker Stena Impero with helicopter-borne commandos for allegedly violating international shipping regulations. An Iranian news agency said the Liberian-flagged Mesdar was briefly detained and then released after being told to comply with environmental rules. Friday’s seizure was retaliation for the July 4 seizure for alleged sanctions busting of an Iranian tanker by Gibraltar, a British territory. It marks a sharp escalation of regional tension triggered by the Trump administration when it withdrew from a 2015 nuclear deal with Iran and imposed severe restrictions on Iranian oil exports and other sanctions. Many of the 2,000 companies operating
Partners Llc., noting that US State and Defense department officials discussed on Friday multinational military escorts for ships traversing the Strait of Hormuz to and from ports of major oil producers, including Saudi Arabia. “If you put more combat ships into a small place, you are increasing the risk of confrontation and that alone increase the risk of oil prices,” he said. While the United States is energy self-sufficient, the economies of countries, including China, Japan and South Korea, depend heavily on Gulf oil, which supplies about one-third of seaborne oil shipments. “A doubling in oil prices if there is no oil for the rest of the world is not unimaginable,” said Brennan, the maritime lawyer, a former Navy captain. AP
Green Monday BusinessMirror
A8 Monday, July 22, 2019
www.businessmirror.com.ph • Editor: Lyn Resurreccion
Palawan: PHL’s last or lost frontier?
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Story & photo by Jonathan L. Mayuga
said powerful politicians are taking advantage of the dire situation of poor Palaweños. “We have the saying isang kahig, isang tuka [one scratch, one peck]. In Palawan, it’s isang araw, isang kain [one day, one meal],” he said in mix English and Filipino. Worse, there are extreme cases when some families sleep with empty stomachs because they have nothing to eat all day, he said.
UNIQUE place to visit in Puerto Princesa City, Palawan, is the headquarters of the Palawan NGO Network Inc. (PNNI), which is conspicuously attracting local and foreign tourists. The small semi-concrete, semiwooden structure sits at a corner lot with two huge wooden fishing boats in front, and “adorned” with rusty chainsaws around its perimeter fence. Situated at Manalo Extension corner Gabinete Road Intersection, the PNNI headquarters house a small museum of “illegals” which para-enforcers of the group confiscated over the years, a testament to the group’s advocacy and commitment to protecting the country’s last ecological frontier against destruction.
Environment advocacy
FORMED in 1991, the PNNI’s small group of para-enforcers, mostly volunteers and environmental advocates, were able to confiscate via citizen’s arrest almost all illegal and unusable equipment—all used by individuals or organized syndicates engaged in various environmental crimes— from illegal fishing, illegal mining and quarrying, illegal logging and illegal wildlife trade. Name it and the PNNI and its small museum sure have it on display in the museum: fishing boats, trucks, tricycles, motorcycles and the infamous chainsaws, tree-cutting tools like hand saw and ax, fishing gear, nets, compressors, oxygen tanks, cyanide, dynamite, spear guns and even improvised guns or paltik. “We’ve stopped counting at 700. That was last year,” said Robert Chan, executive director of PNNI, of their most prized possession—chainsaws. A chainsaw can cut 20 trees a day—it is so notorious that it was declared illegal to carry it in the forest without the necessary permit. With such number of confiscated chainsaws, the group was able to build a “Christmas Tree” that was neatly stacked on top of each other, towering their small headquarters. With over 1,000 chainsaws, it is perhaps the biggest attraction in the group’s unique museum that wows visiting tourists.
Comanaging Palawan
Sadly, the chainsaws and other “illegals” on display are proofs that the threat to Palawan’s environment and natural resources is serious, and the “goons” behind the illegal activities are armed and dangerous.
Real threats
THE organization, which operation is financed mostly by tourists visiting their headquarters through entrance fees and voluntary donations, however, seems to be losing the big fight, as Palawan, the country’s so-called last ecological frontier, continues to face serious environmental threats. Since PNNI started to enforce environment laws, chainsaws kept on coming in as if there’s an unlimited supply of this infamous tool in Palawan, Chan said in a mix of English and Filipino. “We don’t know where they are coming from, really,” he lamented.
Deadly game
WHILE the group was able to score big in its campaign for the environment, it also suffered huge setbacks, with sweat, tears—and blood. “ We decided to enforce the [e nv i ron me nt] l aw s b e c au s e the author ities are not doing it,” he quipped. “In the last 10 years, 10 members of our para-enforcers were killed—an average of one dead environmental defender a year,” Chan, a lawyer, said. Apparently, he said even some communities who are supportive of their advocacy before are now afraid to go out in the open for fear for their lives. PNNI has over 60 memberorganizations—but not all are actively involved in environmental advocacy—with some members focusing on labor rights, human rights, women and children, agriculture and agrarian reform, and people’s organizations with varied interests. Besides, Chan said, the threats are real and no organization is willing to gamble with the lives
A TOWERING “Christmas Tree” of confiscated chainsaws dwarfs the PNNI headquarters-cum museum in Puerto Princesa City.
of their members, especially in a place like Palawan, where illegal activities is a way of life. “As I’ve said, we’ve lost 10 para-enforcers already,” he said.
‘Island paradise’
PALAWAN, the biggest province in the Philippines in terms of total land area, is known as an island paradise. It is home to a matchless number of species of flora and fauna, and home to unique ecosystems. Because of its aesthetic beauty, Palawan is fast becoming a tourist magnet in Luzon. It’s relatively pristine waters, intact forest ecosystems, plus the fascinating and breath-taking landscapes uphill and the white sand beaches in coastal areas make Palawan one of the most sought-after vacation places in the country. El Nido, Puerto Princesa, Coron, Quezon and Taytay are just a few of the places being promoted by the Provincial Tourism Office and the Department of Tourism.
Poverty stricken
THE island, however, is besieged by various environmental problems. Illegal logging, mining and quarrying, slash-and-burn agriculture and illegal wildlife trade are just some of its major threats. Conversion of forests into agroforestry plantations and road construction that passes through virgin forests are also being blamed for the environmental degradation of the province. People in Palawan, where poverty incidence remains high, are also highly dependent on the
province’s natural resources. Timber poaching, cutting of trees for fuel and making charcoal, catching animals and birds for food and for the pet trade are some of the biggest challenges facing Palawan—something PNNI blamed to extreme poverty and weak law enforcement, including wrong policies that seemed to favor destructive development rather than environmental protection. Chan lamented that it is unfortunate that Palawan, a province rich in natural wealth, remains poor, with people going hungry and forced to do illegal activities at the expense of the environment.
Contentious issues
THREE most contentious issues in Palawan today seemed to have ended not on the side of environmental protection. These include the removal of five protected areas in the coverage of the Expanded National Integrated Protected Areas System (E-Nipas), the comanagement agreement between the provincial government and the Department of Environment and Natural Resources (DENR) and the division of the Palawan into three provinces. The E-Nipas, enabled by Republic Act 11038, became law last year while the implementing rules and regulation were put in place in May this year. According to Chan, the comanagement agreement does not sit well with Palawan nongovernment organizations (NGOs) because they have no representation in the crafting of the plan.
The management plan, he said, paves the way for the construction of roads that would pass through forests, the establishment of plantations—such as rubber, palm oil and coconut—and the construction of indigenous people’s villages, which spell out their eventual relocation outside their ancestral lands. Moreover, Chan said the move to divide Palawan into three provinces “smells fishy.” He said the move is in preparation for the plan to shift to a federal government, thereby, qualifying Palawan as one region under one governor, instead of its being part of the proposed Minparom Federal Region composed of Mindoro, Palawan, Romblon and Marinduque, where there is a possibility that the governor’s bid to stay in power may be thwarted.
Politics and environmental advocacy
IN Palawan, politics and environmental advocacy do not jibe well. PNNI has been criticizing Palawan Gov. Jose Alvarez, a billionaire whose family once operated the biggest logging company in the province, for his alleged policies as chairman of Palawan Council for Sustainable Development (PCSD), particularly the push for the comanagement agreement w ith the DENR and the division of the province into three distinct and independent provinces. Chan, who accused Alvarez of vote-buying supported and even endorsed Arthur Ventura who eventually lost in the last election,
INTERVIEWED by the BusinessMirror, Executive Director Nelson P. Devanadera defended Alvarez’s policies as chairman of PCSD. While admitting that poverty is a serious problem in Palawan, he said the provincial government and PCSD are not remiss in their duties to address it, including the many problems besetting the province. PCSD, in partnership with various law enforcement agencies, have also confiscated illegal tools used by unscrupulous individuals and groups in their assault of Palawan’s environment, including its threatened species targeted by illegal wildlife traders. According to Devanadera, he is pushing for the revival of the 10year “Palawan Integrated Natural Resources Management Project” because of the comanagement agreement between the provincial government and the DENR. Joining forces, he said Palawan would get stronger protection measure from both the DENR and the provincial government by pooling their resources together. With the various threats to Palawan, he deemed it the right time to revive such plan. If implemented, he said it would strengthen Palawan’s protection through enhanced law enforcement activities. It would also regulate potentially destructive development projects, such as mining, logging and operation of agroforestry plantations. It will also promote inclusive growth through livelihood projects that will address hunger and poverty in the province, which will eventually reduce human pressure on the province’s environment and rich biodiversity, he said. Palawan is experiencing massive environmental destruction. Illegal wildlife trade, in the words of Devanadera himself, is quite “alarming,” and what is considered the last ecological frontier may soon become a lost ecological frontier—if it is not at that stage already—unless something concrete is done to save the island paradise.
SURVEY REVEALS CRUCIAL NEED TO EMPOWER WOMEN TO LEAD CLIMATE-CHANGE ACTION
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HICAGO—A new survey funded by the Exelon Foundation found that even though nearly four out of five high-school girls believe action must be taken to address climate change, the majority don’t feel equipped to take on this critical issue themselves. And despite survey respondents’ confidence that women have the talents needed to address climate change issues, only 50 percent foresee females leading these efforts. Recognizing the need to empower girls to pursue career paths that address climate-change issues, the Exelon Foundation and United Nations Women HeForShe are hosting their second annual STEM Innovation Leadership Academy. STEM stands for science, technology, engineering and math. Taking place in Baltimore (July 14 to 19), Philadelphia (July 21 to 26) and Chicago (August 4 to 9), the 2019 Academy events are tailored to the increasing number of young women who express an interest in STEM careers. In fact, 60 percent report that they are likely to pursue a career that uses STEM, with nearly half attributing their interest in STEM to the pathways it provides to make a positive impact on the world. “The global climate crisis is one of the most
urgent issues of our time. It’s very encouraging to hear that most young women surveyed recognize the need to act, but we must arm them with the necessary tools and reinforce the confidence they need to tackle climate issues head-on,” said Chris Crane, Exelon president and CEO and HeForShe Thematic Champion. Designed to inspire and equip the next generation of climate leaders, the STEM Innovation Leadership Academy will provide a weeklong curriculum that incorporates a series of hands-on STEM activities centered on climate action, visits to noteworthy energy and environmental landmarks and discussions with prominent female STEM leaders. Each of the three events will host approximately 60 young women and culminate with an Academywide Energy Innovation Challenge, encouraging participants to identify ways to increase energy efficiency on college campuses. The second annual STEM Innovation Leadership Academy is a primary component of the Exelon Foundation’s commitment to the UN Women’s HeForShe initiative, which was created to foster a movement where men can become agents of change for gender equality. The second
annual Academy is part of Exelon’s three-year, $3-million investment to encourage and support the involvement of young women in STEM. “HeForShe is committed to mobilizing people of every gender identity and expression as advocates for gender equality,” said Elizabeth Nyamayaro, senior advisor to under secretarygeneral, executive director of UN Women and global head of the HeForShe Movement. “We’re proud to partner with Exelon for their STEM Innovation Leadership Academy in an effort to educate and empower young people to become leaders in fields that can make a global impact.” “The Exelon STEM Innovation and Leadership Academy is a creative, comprehensive, and effective approach to exposing young people—especially girls—to science, technology, engineering and mathematics in practical and exciting ways that allow them to see a future in these fields,” said Maryland Gov. Larry Hogan. “This event goes hand in hand with my proposed expansion of Maryland’s Pathways in Technology Early College High School program, which Exelon has supported from the very beginning. I applaud you and appreciate the ongoing partnership.” Business Wire/AP
TOYOTA river cleanup
Toyota takes care of the environment
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OYOTA Motor Philippines Corp. (TMP) joined the celebration of Toyota Global Environment Month through a series of activities that further raise awareness of individuals about environmental conservation. It was aligned with the Toyota Environmental Challenge (TEC) 2050, an initiative which aims at achieving zero carbon footprint from new vehicles, life cycle and manufacturing operations, as well as create a net positive impact to society. This year, activities focused on “Challenge 3: Plant Zero CO2 Emissions” and “Challenge 4: Minimizing and Optimizing Water Usage.”
Educational seminars about energy management, renewable-energy usage and water conservation were conducted to continuously encourage team members and other members of the value chain to take action in addressing current environmental concerns. As part of the company’s commitment under “Challenge 6: Establishing a Future Society in Harmony with Nature,” TMP continues the “AllToyota Green Wave Project,” an initiative by all Toyota affiliates around the world, which aims to contribute to the restoration and enhancement of biodiversity and ecosystems.
TMP team members and representatives from the Toyota Suppliers Club planted 200 trees inside the 11-hectare Toyota Forest at the Toyota Special Economic Zone in Santa Rosa, Laguna. Volunteers also participated in the river cleanup along the Silang-Santa Rosa River near the company’s vicinity. By cleaning up the river, TMP hopes to prevent further pollution and improve the waterways. The Silang-Santa Rosa River is connected to Laguna Lake, which is one of the primary water sources for livelihood of nearby communities.
Biodiversity Monday BusinessMirror
Asean Champions of Biodiversity Media Category 2014
Monday, July 22, 2019
Editor: Lyn Resurreccion • www.businessmirror.com.ph
EPA restores use of pesticide opposed by beekeepers
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ASHINGTON—The Environmental Protection Agency (EPA) will allow farmers to resume broad use of a pesticide over objections from beekeepers, citing private chemicalindustry studies that the product does only lower-level harm to bees and wildlife. EPA’s announcement last week—coming after the agriculture industry accused the agency of unduly favoring honeybees— makes sulfoxaflor the latest bugand weed-killer allowed by the Trump administration despite lawsuits alleging environmental or human harm. The pesticide is made by Corteva Agriscience, a spin-off created last month out of the DowDuPont merger and restructuring. Honeybees pollinate billions of dollars of food crops annually in the United States, but agriculture and other land uses that cut into their supply of pollen, as well as pesticides, parasites and other threats, have them on a sharp decline. The University of Maryland said US beekeepers lost 38 percent of their bee colonies last winter alone, the highest one-winter loss in the 13-year history of their survey. E-mails and other records obtained from the EPA through Freedom of Information Act litigation by the Sierra Club, and provided to The Associated Press, show sorghum growers, in particular, had pressed senior officials at the agency for a return to broad use of sulfoxaflor. Sorghum growers regard honeybees as just another “non-native livestock” in the United States, lobbyist Joe Bischoff said in one 2017 e-mail to agency officials, and by cutting threats to the bees, “EPA has chosen that form of agriculture over all others.” A federal appeals court had ordered the EPA to withdraw approval for sulfoxaflor in 2015, ruling in a lawsuit brought by US beekeeping groups that not enough was known about what it did to bees. EPA Assistant Administrator Alexandra Dapolito Dunn said on Friday that new industry studies that have not been made public show a low level of harm to bees and other creatures beyond the targeted crop pests. Dunn said EPA’s newly reset rules for use of sulfoxaflor, such as generally prohibiting spraying of fruit and nut-bearing plants in bloom, when pollinators would be attracted to the flowers, would limit harm to bees. She called it “an important and highly effective tool for growers.” Michele Colopy, program director of the Pollinator Stewardship Council, one of the beekeeping groups that had successfully sued to block sulfoxaflor, said the EPA limits weren’t enough to protect bees and other beneficial bugs whose numbers are declining. “We understand farmers want to have every tool in their toolbox,” when it comes to curbing insects that damage crops. “But the...pesticides are just decimating beneficial insects,” Colopy said. An environmental group charged the EPA with sidestepping the usual public review in reapproving broader use of the pesticide. “The Trump EPA’s reckless approval... without any public process is a terrible blow to imperiled pollinators,” said Lori Ann Burd, director of the Center for Biological Diversity’s environmental health program. Separately, the US Department of Agriculture announced without fanfare on July 1 that it would stop collecting quarterly data on honeybee colonies, citing budget restrictions. Beekeepers and others use the data to track losses and growth in US honeybee colonies. Other Trump administration decisions have upheld market use of the weed-killing glyphosate, which is now the target of thousands of consumer lawsuits over alleged harm to people exposed to it, and shelved an Obama-era decision to ban the pesticide chlorpyrifos as a threat to human health. AP
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Asean leaders promote partnership for conservation, peace, econ growth By Rolando A. Inciong
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TREKKERS on Mount Hamiguitan Range Wildlife Sanctuary. EDEN JHAN G. LICAYAN
Special to the BusinessMirror
HE heads of governments of the 10 Asean memberstates have agreed to promote cooperation and partnerships within the region and with external partners in order to achieve sustainability, conservation, peace, economic growth and other dimensions of Asean Community-building. The agreement was expressed in the Asean leaders’ vision statement on partnership for sustainability, which was adopted during the recent 34th Asean Summit held in Bangkok, Thailand. Among many other regional concerns, the Asean leaders—of Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam— agreed to continue promoting biodiversity conservation and management, and to endeavor to mainstream biodiversity into the various development processes in Asean. It will be done through the concerted efforts of member-states, and with the support of the Asean Centre for Biodiversity (ACB). The ACB was established in 2005 as the Asean’s response to the challenge of biodiversity loss. It facilitates cooperation among Asean member-states, and with national, regional and international bodies from across sectors on the conservation and sustainable use of biodiversity, and the fair and equitable sharing of benefits from the use of such biodiversity in the region. Dr. Theresa Mundita S. Lim, executive director of the ACB, noted that the leaders acknowledge that the conservation and sustainable use of biodiversity
is an intergenerational responsibility that is entrusted to the present generation. She lauded the support they expressed to the continuing conservation and sustainable use of Asean’s coastal and marine environment, and ensuring food security, improving nutrition, and promoting benefits for the people. Moreover, the vision statement recognizes that the diversity of life provides a multitude of opportunities for livelihood and economic development; contributes to poverty alleviation and development of technology and innovation; and serves as an effective adaptation and mitigation measure against climate-change impacts and natural disasters in the region. The Asean leaders also agreed to promote partnership for sustainability in maintaining the region as an area of peace, freedom and security, where differences and disputes are resolved by peaceful means; where states remain free of nuclear weapons and weapons of mass destruction; and where maritime cooperation is enhanced in accordance with internationally accepted treaties and principles, including the 1982 United Nations Convention on the Law of the Sea. Other areas cited by the vision statement include enhancing dialogue and promoting cooperation on regional defense and security
issues on humanitarian assistance and disaster relief, peacekeeping operations, maritime security and cyber security. The vision statement also covers reaffirming the importance of maintaining and promoting peace, security, stability, safety and freedom of navigation in and overflight above the South China Sea. It also involves cooperating effectively with partners within and beyond the region to combat terrorism in all its forms and manifestations; strengthening cooperation on border management in accordance with domestic laws and policies to better safeguard the increasingly interconnected and integrated Asean Community by having its relevant sectoral bodies discuss common concerns, such as transnational crimes, human trafficking, illegal-wildlife trade, illicit drug trafficking and cross-border challenges, including pandemics. Another is that on committing to progressing negotiations on the Asean Extradition Treaty to strengthen the region’s resilience and capacity to combat transnational crimes.
The leaders also call for promoting dynamic, sustainable, equitable and inclusive economic growth in Asean; improving connectivity through sustainable infrastructure; achieving inclusivity through narrowing the development gaps within and between member-states; and promoting a green economy. The Asean leaders are looking forward to enhancing sustainable development cooperation by promoting complementarities between the Asean Community Vision 2025 and the UN 2030 Agenda for Sustainable Development; and the launching of the Asean Centre for Sustainable Development Studies and Dialogue in Thailand in 2019 and its role in helping promote sustainable development cooperation in the region. Other regional concerns covered by the vision statement on sustainability and partnerships include narrowing of development gaps, promoting smart and sustainable cities, cooperation on sustainable fisheries and management, promoting inclusive human capital development and public-
Environmental protection underscored at SarBay Fest
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LDT wireless unit Smart Communications piloted its #PlanetSmart initiative at the recent SarBay Festival, a summer beach festival held every year in Sarangani Province as part of its efforts to support environmental protection. #Pl a ne t Sm a r t e ncou r a ge d Smart subscribers who attended the beach festival to collect and properly dispose of their recyclables. During the four-day SarBay Festiva l celebration, customized containers, shaped like the marine animals found along the protected area of Sarangani Bay, were set up in the main event area. The bins were connected to electronic sensors that sent out SMS each time plastic bottles and empty cans were put in the containers. The text messages informed the festivalgoer that he/ she has received free Smart load. T he col le c t e d re c yc l a ble s would be sold, with the proceeds to be given to public-school beneficiaries in the province. “One thing that Sarangani is known for is its dedication to the environment. This commitment is clearly reflected in the SarBay Festival and it’s what makes this annual event unique,” said Nova Concepcion, Smart community partnerships senior manager, at
A YOUTH volunteer receives free Smart load after disposing of plastic bottles into the #PlanetSmart bin.
the sidelines of the festival. The recycling bin prototype is the winning concept from last year’s MVP Geek Olympics, the PLDT Group’s annual employeecentric innovation competition. The event is a brainchild of PLDT Innolab, the group’s incubator for start-ups and developer communities that want to scale extensible partnerships. Following its win at MVP Geek
Olympics, the prototype was further refined and enhanced by technology specialists from Innolab, allowing it more features and capabilities, ultimately staying true to their vision of uplifting the local condition through technol“PLDT Innolab has always aimed to support the country’s development by creating solutions that promote inclusivity and sustainability. We look for-
ward to using our resources to further drive greener and more sustainable initiatives for our country,” said First Vice President and Enterprise Core Business Solutions head Jojo Gendrano. For the #PlanetSmart initiative, Smart partnered with members of youth group Sulong Kabataan, who collected recyclables and encouraged fellow festivalgoers to drop off their trash in the designated #PlanetSmart bins. Smart also teamed up with Sulong Tribu, an organization that mounted an urban gardening exhibit using recycled plastic bottles and old Smart tarpaulins. The group held an exhibit displaying upcycled tarp bags and donated these to public schools within Sarangani. Smart brand TNT and parent company PLDT provided connectivity support and featured exciting events during the festival, such as Pinta sa Baybayon Showcase, Bay Bodies 2019, DJ Battle, TNT Foam Party headlined by This Band and Kat DJ, and sporting competitions such as volleyball, jet ski and mount a i n-bi ke c h a l lenges, a mong other activities. More than 150,000 people attended the three-day festival, according to the Saragani provincial government.
private partnership initiatives. It also involves strengthening capacity of Asean to address the challenge of natural disasters and climate change, strengthening the preparedness of the region to deal with the trends of an aging society, and supporting efforts to intensify convergence among the memberstates on technical-vocational education and training, and work force development. The latest Asean vision stateme nt demon st r ates t he f u l l support of the 10 Asean member-st ates to T ha i l a nd ’s chairmanship of the Asean, with the theme of “Advancing Partnership for Sustainability.” It further strengthens the Bangkok Declaration of 1967, wherein the Asean declared to promote regional cooperation in the spirit of equality and partnership, and to secure for its peoples and for posterity the blessings of peace, freedom and prosperity, and Asean’s pledge to its peoples in the Asean Community Vision 2025, to realize a rulesbased, people-oriented and peoplecentred Asean of One Vision, One Identity, One Community.
SAVORY SUSHI TEMPTS 2 PENGUINS TO NEST AT NEW ZEALAND STORE
IN this July 15 image made off from a video, a man holds a penguin near a sushi shop in Wellington, New Zealand. A pair of “vagrant” blue penguins have been removed after waddling into a New Zealand sushi shop and refusing to leave. TVNZ VIA AP
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ELLINGTON, New Zealand—Two little blue penguins just couldn’t stay away from a New Zealand sushi store, returning to nest there even after police had captured them and escorted them back to the ocean. Wellington police described them as “waddling vagrants” while the store’s coowner jokes he had no idea that word of his tasty raw fish had reached as far as the subaquatic community. Police say the first call came last Saturday night that a penguin was on a city street, and they managed to return it to the ocean. Then on Monday morning they got more calls, and found two penguins nesting beneath the Sushi Bi store. But after police released them, the penguins were back under the store a few hours later. They were moved back to the waterfront once again. AP
A10 Monday, July 22, 2019 • Editor: Angel R. Calso
Opinion BusinessMirror
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editorial
Sona: Then and now
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ODAY, President Duterte will deliver his fourth State of the Nation Address (Sona). A formal report of the chief executive to the legislature and to the people has its foundation in the United States Constitution. Monarchs did not have to report anything. This practice is unique to a very few countries, all with a presidential system, from the Philippines to South Africa and Ghana and on to Russia. In a parliamentary system, the head of government is also a member of the legislature. Only the Prime Minister of Luxembourg does a Sona. The US constitution actually called for a written report to be delivered to Congress. However, on January 8, 1790, President George Washington delivered the first Annual Message to a Joint Session of Congress now known as the State of the Union address. Then as now, it is a political speech. George Washington started his speech with “Fellow Citizens of the Senate and House of Representatives: I embrace with great satisfaction the opportunity which now presents itself, of congratulating you on the present favorable prospects of our public affairs.” That sounds familiar doesn’t it? In fact, if you read the text of Washington’s “Sona,” it could have been deliver ed in 2019. “To be prepared for War is one of the most effectual means of preserving peace.” “The terms on which foreigners may be admitted to the rights of Citizens should be speedily ascertained by a uniform rule of naturalization.” “You will agree with me, that there is nothing which can better deserve your patronage than the promotion of Science and Literature.” “The advancement of Agriculture, Commerce and Manufactures, will not I trust need recommendation. But I cannot forbear intimating to you the expediency of giving effectual encouragement as well to the introduction of new and useful inventions from abroad, as to the exertions of skill and genius in producing them at home.” The more things change, the more they stay the same. While President Duterte is always an unknown when speaking before an audience, today’s Sona should follow the expected pattern. This is what the administration has done successfully. This is what we need to do. Will the dispute with China be addressed? Will the President’s high approval rating be a part of the speech? Will the sedition charges against 35 people including senators, church leaders, lawyers and Vice President “Leni” Robredo come up? However, this is an opportunity at the midpoint in his term of office for the President to lessen the acrimony and outright hostility between the administration and the vocal minority. This would be better for the nation. There are too many critical issues that need to be solved. While the President has a high approval rating and therefore much political capital, the divisions are deep and wide even within the public’s support. It is time for statesmanship. Since 2005
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Call for a stronger climate-change adaptation and mitigation strategies Atty. Jose Ferdinand M. Rojas II
RISING SUN
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IMES are changing. We are living in a highly uncertain environment where many types of risks are present almost all the time. For example, our country was listed third in the list of 171 disaster-prone nations, according to the World Risk Report of 2018. Almost every day, we receive reports about how some countries are battered by heat waves, forest fires, and hotter-than-normal temperatures, news about the alarming rate at which the ice caps are melting, updates about strong earthquakes and massive flooding in many parts of the world, and many other disasterrelated news. July has been declared as National Disaster Resilience Month to raise awareness on the need for building resilience across national
Historical markers Atty. Lorna Patajo-Kapunan
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and local levels. Resilience, because these disasters are happening, and the best way to prepare for them is to formulate strategies to adapt to them, and to mitigate their effects whenever possible. I wonder where we stand in this regard. Does the government have strong adaptation and mitigation strategies to protect people from the risks of death, injury and disease brought about by climate changerelated disasters? Are schools and communities educated enough to
M
Y frequent travels abroad to major cities recently has gotten me interested in historical markers. This has led me to read up on it (Ref: en.m.wikipedia.org).
“Historical markers are installed by the National Historical Commission of the Philippines in the Philippines and places abroad that signify important events, persons, structures, and institutions in the Philippine national and local histories. The plaques themselves are permanent signs installed by the NHCP in publicly visible locations on buildings, monuments or in special locations. Local municipalities and cities can also install markers of figures and events of local significance. Though they may have the permission of the NHCP, these markers are barred from using the seal of the Republic of the Philippines. “While many Cultural Properties have historical markers installed, not all places marked with historical markers are designated into one of the particular categories of Cultural Properties. As of January 2012, the total number of historical markers is 459, however, the number of
markers from all these lists is more than 1,500. “Before 1933, several civic efforts have been initiated to create monuments, and to mark historic sites and events, such as Cry of Balintawak, Jose Rizal Monument and the birthplace of Andres Bonifacio. However, many more historical sites have not been recognized or marked. “The earliest predecessor of the NHCP was the Philippine Historical Research and Markers Committee [PHRMC]. Established on October 23,1933, via Executive Order 451 during the governorship of Frank Murphy during the American colonial era, one of its tasks was to mark cultural and historical antiquities in Manila, which was later expanded to cover the rest of the Philippines. The first markers were installed in 1934, including ones for Church of San Agustin, Fort Santiago, Plaza McKinley, Roman Catholic Cathedral of Manila, San Sebastian
know how to prepare for these incidents when they happen? And once the strategies have been formulated, effective implementation is crucial to make them work. Policies and cooperation will play a big role in implementation. Adaptation and mitigation responses are enabled by factors such as effective institutions and governance, investments in environmentally sound innovations and infrastructure, and sustainable livelihood, behavior, culture and lifestyle choices. The United Nations created a body to assess the science related to climate change. This is the IPCC or the Intergovernmental Panel on Climate Change. Updates can be found at https://www.ipcc.ph According to the IPCC Fifth Assessment Report, the following are the constraints to the effective implementation of adaptation and mitigation responses: adverse externalities of population growth and urbanization; deficits of knowledge, education and human capital; divergence in social and cultural
attitudes, values and behaviors; challenges in governance and institutional arrangements; lack of access to national and international climate finance; inadequate technology; insufficient quality and/or quantity of natural resources; adaptation and development deficits; and inequality. To my mind, adaptation and mitigation responses are disabled by too much politics, corruption, indifference, and ineffective systems and policies. In my opinion, this is the biggest concern as far as the Philippines is concerned and could spell the difference between death and survival. It needs serious attention and immediate action. As Filipinos are living in a third world country, we are limited as far as options are concerned. On top of this, our country is also disasterprone. These are the cards we’ve been dealt and we must rise above them in order to survive. The sooner we realize that the odds are not in our favor, the sooner we wake up to these truths/facts, the bigger is our chance of survival.
A partial reason given by the Philippine Registry of Cultural Property for this major LGU participation is the nonexistence of a holistic Department of Culture. Although there have been bills filed in Congress to establish a Department of Culture, none of these bills have been given priority status and to date, none have been passed.
Cebu City. The markers, both in Cebuano and Filipino, were installed in 2008. The first marker in Ilocano was installed to commemorate the Mansion House in Baguio City in 2009. The first marker in Capampangan was installed to commemorate the Holy Rosary Parish Church in Angeles City in 2017. Historical markers outside of the Philippines may also be written in the local language of the country where the marker is installed such as German in Berlin, Germany, and French in Ghent, Belgium, (both markers commemorate Jose Rizal). Two of the first markers outside of the Philippines were installed in Ghent, Belgium, commemorating the residence of Jose Rizal when the El Filibusterismo was published, and in Dezhou, China, commemorating Paduka Batara, a King of Sulu who paid tribute to the Yongle Emperor and died there. Both were installed in 1959. “In 2002, during the unveiling ceremony of the marker for National Federation of Women’s Club in the Philippines in Manila Hotel, former President Fidel Ramos joked that the curtain raising reminded him of striptease, and everybody laughed. That was the last time that the curtains were pulled upward, and from then, the unveiling involves curtain pulling instead. “In 2011, the NHCP stated that it will pursue more markers for Visayas and Mindanao for their further
Church, Concordia College, Manila Railroad Co., Dr. Lorenzo Negrao, and University of Santo Tomas (Intramuros site). Issuance of markers stopped during the World War II. Some of these markers were either lost or destroyed during the war and new markers were installed as replacements for San Agustin Church and Manila Cathedral. Throughout the years, some markers have also been reportedly missing as they were stolen and sold as scrap meal. The installation of markers was continued by the successors of the PHRMC: the Philippines Historical Committee (PHC), National Historical Institute (NHI) and the NHCP. The standard style of markers has changed throughout the years. “The language of the markers are mostly and primarily in Filipino, with markers also in English and Spanish. The first marker to contain a regional language was installed to commemorate the Cebu Provincial Capitol in
See “Kapunan,” A11
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Iran confrontation with Oxytocin in the workplace UK reflects history of bad blood in Persian Gulf Siegfred Bueno Mison, Esq. Bloomberg Opinion
T
HE reopening of the British Embassy in Tehran was meant to usher in a new era in relations. As the Union Jack flag was raised above the lush, landscaped gardens of the complex in August 2015, then-Foreign Secretary Philip Hammond said the event marked “an important milestone.” That was just six weeks after an international accord was reached to restrict Iran’s nuclear program in return for relief from penalties that had strangled its economy. But since the accord started to unravel last year, tensions between Britain and Iran have been growing. Then came Friday’s dramatic seizure of a British-linked tanker in the Gulf, a tit-for-tat response to the UK’s detention of a vessel carrying Iranian oil through the Mediterranean Sea. The UK has threatened Iran with “serious consequences,” which could include a package of sanctions. How did things get so bad? The UK is after all part of a European trio trying to rescue the nuclear deal US President Donald Trump pulled out of, triggering its demise. But it is also breaking away from the European Union and desperate for a free-trade agreement with the US, still the world’s dominant economy.
It’s complicated
IN short, its geopolitical priorities are complex. Britain’s relations with Iran stretch back to the 1600s and are marked by periods of conflict, some were resolved fairly swiftly, others endure to this day. For example, Iranians still blame Britain for a famine 100 years ago. Underlying it all is a sense the UK is playing a double game. “Iranians are obsessed with the idea that the British are the archmanipulators in the background, manipulating the US,” said Ali Ansari, a professor of modern history in the Middle East at the UK’s University of St. Andrews. “It dominates the narrative in a way you’d never imagine.” Brexit-ravaged Britain is trapped in a political crisis, transitioning from one prime minister to another. The two Conservative candidates slugging it out to become leader also happen to be both the current and former foreign secretary: Jeremy Hunt and Boris Johnson, favored to win and whom Trump calls a friend. Iran was never a colony of the Empire on paper, but nevertheless the UK has wielded outsized influence in the country over centuries. During the Great Game of the 19th century, Victorian Britain and Tsarist Russia, battled for dominance in Central Asia, Persia was caught in the middle.
Liquid gold
IT struggled to balance the demands of the two imperial powers and though Russia was always the more brutal of the two, Britain left deeper political scars. That’s partly because events of the early 20th century “altered the historical perspective,” Ansari said. Then, as now, those events revolved around oil. In 1901 British entrepreneur William Knox D’Arcy began searching for oil in Persia and under the terms of a deal struck with the monarchy, he became the sole owner of whatever oil he’d find, while Persia would get just 16 percent of profits annually and no say over how the company was run. The Anglo-Persian Oil Co. was born seven years later when D’Arcy’s surveyors discovered crude beneath the southern desert. “Fortune brought us a prize from fairyland beyond our wildest dreams,” said Winston Churchill, who was in charge of the Navy at the time and oversaw its switch from coal to oil.
Colonial baggage
THE British government injected new capital into the company just before World War I, acquired a con-
trolling interest and built the world’s largest refinery near the Persian Gulf to process the oil and ship it back to Britain. The company ran the city like a virtual colony: British employees and their families lived in luxury in a peaceful oasis on one side of the city and non-British laborers in a shantytown on the other. Unsurprisingly, strikes and riots broke out sporadically. In 1951, as a wave of anti-colonialism swept the region, the company was nationalized under the government of Prime Minister Mohammad Mosaddegh. Iran canceled its right to extract oil and seized its assets. Britain shut down refineries, blockaded Iran’s ports and froze Iranian bank accounts. When it became clear Mosaddegh had the upper hand, the UK lobbied the US to install a shah sympathetic to the west. Together in 1953 they overthrew him in a coup.
Birth of BP
IRANIAN oil began flowing again and the company—which had by then rebranded itself as British Petroleum and is now known as BP —tried to regain its old position. But Iranian public opinion was so fiercely opposed the new government couldn’t let that happen. Instead it was forced to accept membership in a consortium of companies. After the repressive shah was exiled during 1979 Islamic Revolution, the antiwestern regime of Ayatollah Ruhollah Khomeini nationalized the oil industry again. The seizure of the tanker carrying Iranian oil off the southern tip of Spain earlier this month, like most of US policy toward Iran under Trump, has unified rival political factions. It’s also given the Islamic Republic’s stalwarts a fresh opportunity to attack Britain as an imperialist, colonialist, pro-monarchist power intent on meddling in Iran’s affairs.
‘Queen’s pirates’
ON July 6—two days after British forces seized a supertanker suspected of carrying Iranian oil to Syria— Iranian media was swift to respond. The headline in the moderate Arman newspaper read “A US Scenario with British Actors” while the reformist Aftab spoke of “Extremism in Gibraltar.” The ultra-hardline daily Kayhan has called for retaliation against “the Queen’s pirates.” The Iran-Iraq war of the 1980s, in which the UK backed Saddam Hussein, and a fatwa against the writer Salman Rushdie have been among low points in ties between Iran and Britain. More recently, the fate of UK-Iranian dual national Nazanin ZaghariRatcliffe—held by Iran on spying charges since 2016—has poisoned the well. She’s recently been transferred from the notorious Evin prison to a hospital psychiatric ward and is barred from contacting her family. Johnson, as foreign minister, was widely criticized for contributing to her fate by saying publicly she was in Iran teaching journalism. Should he become prime minister, as is widely expected, the crisis with Iran will demand his immediate attention. Just before Friday’s extraordinary seizure of the tanker by Iran, Ayatollah Ali Khamenei said he wouldn’t allow the “evil” acts of Britain to go unanswered. Such menacing rhetoric was used back in 2011 in the run-up to an attack on the UK embassy in Tehran by hardliners.
all, oxytocin is the hormone responsible for everything nice. My colleague in Philippine Airlines (PAL), Kookai Silverio, has been unwittingly giving me regular doses of oxytocin. Doing simple gestures like a word of encouragement or a pat in the back generates oxytocin for both the giver and the recipient. As it is written in the Bible, “Gracious words are a honeycomb, sweet to the soul and healing to the bones.” (Proverbs 16:24) Whenever things in the office get rough and people get frantic, Kookai and I manage to be happily trustful of each other, consciously knowing we have each other’s back. Whenever employees are trusted and feel part of a circle of safety, similar to a herd of animals, they tend to be protective of each other and of the entire company. This protective chemistry makes them ward off enemies from the outside instead of putting out fires within. Thus, the role of a servant leader is to establish a circle of safety to allow those inside to make decisions without fear. Sinek further says, “When we do not feel safe in our own environment, the natural human reaction is cynicism, paranoia, mistrust and self-interest.” In the corporate setting, employees experience “I got your back” feeling when their leaders genuinely give more than adequate support in terms
of time, money, and resources, out of generosity. In contrast, when people do not feel safe in their own workplace, “cover your ass” is the norm. Employees are unhappily fearful of reprisals especially when they do things outside the box. There is little trust in the leadership, which is supposed to provide cover from above in all decisions and actions done on the ground. For believers, the equivalent of a circle of safety is a small group where its members, by sharing powerful and personal testimonies, form a bond founded on trust. Trusting God and supporting each other in a small group are indispensable traits for mature believers. Along with that trust comes happiness as I have yet to see a believer who’s not happy and joyful. In the case of Kookai and myself, we always find things in the office, however little, to be cheerful about—from a healthy dessert to an approved memo. My call for leaders is to find more creative ways, aside from the usual team-building activities, to produce more oxytocin within each employee. Leaders, as Sinek suggests, must establish a circle of safety to promote happiness and build trust in the workplace. After all, happy workers are the most productive individuals.
a relief for the administrators of, and heirs to, estates who have not been able to pay the estate taxes on properties left by decedents. Several issuances have been promulgated by the Department of Finance and the Bureau of Internal Revenue (BIR) for this TA, including Revenue Regulations 6-2018, Revenue Memorandum Order 33-2019 and Revenue Memorandum Circular 68-2019. It is expected that additonal guidelines will still be issued in the near future. Those availing themselves of this must complete the payment of the TA tax and submit all documentary requirements on or before June 15,
2021. For those availing themselves of this amnesty, this just provides a limited time of two years from the date of effectivity of the Revenue Regulations to comply with the provisions on the TA law. The guidelines issued by the BIR provide the Estate Tax Amnesty Return (ETAR), the Acceptance Payment Form (APF), and Certificate of Availment (CA) that will be used by taxpayers availing of the amnesty. The ETAR and the APF can be accomplished without too much difficulty. What are very useful are the information in the guidelines of the ETAR and in RR 6-2019, which provides for the allowable deductions in the eight laws since 1936 that taxpayers may consider in computing their TA estate tax. The TA law, with the veto of the President of certain contentious provisions of the enrolled bill submitted by Congress to Malacañang, provides that the availment should be made for each stage of transfer of properties of multiple estates. Thus, for situations where there are several decedents covering various generations, the TA process should be made for each estate for the common properties. Once the ETAR and APF are accomplished, these are to be submitted to the concerned BIR Office. The BIR will review and endorse these back to the taxpayer, with the APF bearing the signature of the authorized BIR officer. The taxpayer shall pay the amnesty tax to the authorized accredited agent bank or revenue collec-
tion office by merely presenting the APF. There is no need to present the ETAR or any supporting document to the bank or RCO. Instead, all of the documents, including the ETAR, bank-validated APF and supporting documents should be filed in triplicate with the concerned BIR office after the payment. The taxpayer will be given the received copy of all of these documents. The CA and the electronic Certificate Authorizing Registration (eCARs) shall be issued within 15 calendar days from the receipt of validated APF and proof of payment. The eCARs shall be presented to the Register of Deeds, Corporate Secretary or any other person mandated to register asset ownership transfer matters, to start the process of the transfer of ownership to the rightful heirs. After all of these steps and processes, people ask me if this finally is the resolution of the long pending estate tax issues. My answer: “Perhaps.”
Historical markers for religious personalities may be installed in recognition of social or historical value. Historical markers shall not be installed to honor persons deceased less than 50 years, unless they are considered outstanding figures. Request for historical markers may be granted during the centenary year of deserving persons, places or structures. Historical markers shall not be installed in honor of persons who are still living. Historical markers may be installed in honor of foreigners, only in exceptional cases. Markers of local significance shall be allowed upon approved application to the NHCP provided they are installed and financed by the agency, persons or organization making the request and in such cases, the seal of the Republic of the Philippines shall not be allowed to be used. In consonance with the national policy, all texts of historical markers shall be in the national language. The historical marker shall have a
uniform design, size and materials. The NHCP shall exercise the exclusive right (patent) over its use and production. The historical markers are government property. Any act to destroy or remove the said markers without the written authority from the NHCP Board shall be charged criminally in accordance with existing laws. The NHCP shall conceptualize the standard design, size and materials of the pedestals for the historical marker. To ensure the protection, upkeep and maintenance of the historical markers, the NHCP and the client (i.e., local executives, descendant of the hero, etc.) shall both officially agree and sign the Certificate of Transfer. With the recently concluded elections, newly elected officials of local government units are now in place. Newly installed mayors are now starting to fulfill their campaign promise of cleaning up their cities of garbage, unclogging traffic bottlenecks, solving drainage problems, putting vendors in their proper places, among others. Mayor “Isko”
Moreno is now the “darling” of Manileños and the Philippine press by setting the gold standard for LGUs to follow by just doing his job! His mantra—Manila for Manileños to be proud of. Giving priority to cleaning up sites with historical significance (e.g., Escolta, Divisoria) is a step in the right direction. Indeed, pride in one’s city must include respect for its cultural heritage and historical sites and markers. All LGUs are mandated by law to submit a partial or full list of each LGUs cultural properties. However, the Philippine Registry of Cultural Property reports that only 39 out of 1,934 cities and municipalities have submitted such a list as of November 2017. A partial reason given by the PRECUP for this major LGU participation is the nonexistence of a holistic Department of Culture. Although there have been bills filed in Congress to establish a Department of Culture, none of these bills have been given priority status and to date, none have been passed. Congress, wake up!
THE PATRIOT
By Caroline Alexander & Golnar Motevalli
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APPY workers feel more invested in the organization, which results to a higher degree of loyalty. Happy workers are less stressed, which results to a lower medical bill for the company. They find it easier to go above and beyond their job description, which results to initiative and innovation—key ingredients every business needs to stay ahead of the competition. In his book, Leaders Eat Last, best-selling author Simon Sinek enumerated four chemicals that make human beings happy—EDSO (endorphins, dopamine, serotonin, oxytocin). Sinek considers endorphins and dopamine as the “selfish chemicals” as they give us a runner’s high whenever we get to accomplish certain personal and individual goals or instant gratification, which can be highly addictive. On the other hand, Sinek considers serotonin as the “leadership chemical” as it provides the feeling of significance, status, and pride, which in turn creates a sense of allegiance within an inner circle. Of the four chemicals, Sinek considers oxytocin as the most important as it promotes intimacy and trust—necessary attributes that
promote cooperation in any relationship, personal or professional. Paul Zak, the author of the book Trust Factor: The Science of Creating High-Performance Companies, suggested various ways to increase the levels of oxytocin in the human body. Giving a gift, sharing a meal, soaking in a hot tub, and petting a dog are some of these activities. Zak further says that human touch, hugging in particular, not only raises oxytocin, but it also enhances trust. While business deals are formalized in documents, they are sealed with a handshake—a more intimate manifestation of trust. I suppose more oxytocin was generated when US President Donald J. Trump nearly hugged North Korean President Kim Jong Un on top of a handshake. After
To avail or not to avail? Joel L. Tan-Torres
DEBIT CREDIT Part Three
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NE of the common tax problems that my clients, relatives and friends present to me is how to resolve their long pending estate tax issues. Most of them have been unable to transfer to the rightful heirs the properties left by their ancestors since the required estate tax payments and clearances have not been completed after so many years since the decedent’s death. Consequently, they have not been able to put to maximum productive use these properties due to constraints of the unsettled estate tax and ownership issues. With the recent passage of Republic Act 11313 providing for a tax amnesy on estate tax, is the resolution of this problem forthcoming? This TA provides for the settlement of the tax obligations of estates of decedents who died on or before December 31, 2017, with the payment of TA of 6 percent of the net estate value. It is to be noted that for estates of decedents who died after December 31, 2017, the estate tax provisions under the Tax Reform for Acceleration and Inclusion law will apply, including the 6-percent estate tax rate similar to the TA estate tax rate. The TA on estate tax provides
Kapunan. . .
continued from A10
inclusion in national history, citing the concentration of markers in Luzon. The installation of markers follows certain criteria and policies (nhcp.gov.ph). The following are the policies issued by the NHCP on the installation of markers. Markers shall be installed for Filipino heroes, historic events and places involving historical acts and patriotic endeavors to dramatize the need to focus to the national consciousness the history of our country from the Filipino viewpoint and to evoke pride in our national heritage and identity. Installation of historical markers that honor Filipino heroes shall be undertaken after proper and thorough study. Historical markers shall only be installed in places with great historical value as determined by the NHCP Board.
Monday, July 22, 2019 A11
For questions and comments, please e-mail me at sbmison@gmail.com.
To be continued Joel L. Tan-Torres is a Certified Public Accountant who placed No. 1 in the May 1979 CPA Board Examinations. He was the former commissioner of the Bureau of Internal Revenue from 2009 to 2010 and the chairman of the Professional Regulatory Board of Accountancy from 2014 to August 2018. He is a partner of Reyes Tacandong & Co. This column accepts contributions from accountants, especially articles that are of interest to the accountancy profession, in particular, and to the business community, in general. These can be e-mailed to boa.secretariat.@gmail.com.
2nd Front Page BusinessMirror
A12 Monday, July 22, 2019
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Sona wish list: Changes to Insurance Code A By Rea Cu
@ReaCuBM
MENDMENTS to the country’s Insurance Code should be billed as a priority measure for the 18th Congress in President Duterte’s State of the Nation Address (Sona), if the Insurance Commission were to have its way.
Insurance Commissioner Dennis B. Funa said the IC also submitted its proposed legislative measures to the Department of Finance in line with the directive
of the DOF secretary, for possible inclusion in the President’s Sona. “One of the proposed legislative measures is the proposed amendments to the Insurance Code [Re-
public Act 10607] to broaden the scope of insurance to include nonindemnity-based products such as parametric insurance products,” Funa told the BusinessMirror through electronic mail. Non-indemnity insurance products are those that provide coverage for persons or things that have no real replacement value, while indemnity insurance products give policyholders a specific amount of compensation for a loss tied to a replacement. “Parametric insurance shall be included in the Insurance Code as an alternative to the standard indemnity-based insurance.
Govt must go beyond rice SRP to address farmers’ woes–group By Jasper Emmanuel Y. Arcalas
A
@jearcalas
FARMERS’ group called on the government to go slow in setting a suggested retail price (SRP) for rice, as unscrupulous traders could take advantage of it by offering planters lower quotations for their crop. Federation of Free Farmers Inc. (FFF) National Manager Raul Q. Montemayor said some traders are earning “extraordinary” profits at the expense of consumers due to the lack of regulation over
imported rice. “However, traders can again use the cap on rice prices as an excuse to buy at even lower prices,” Montemayor said in a statement. “At this point in time when rice prices have normalized, the government must focus on addressing the problems of small farmers, especially since the main harvest season is about to begin,” he added. Agriculture Secretary Emmanuel F. Piñol said rice farmers and other stakeholders could lose over P114 billion due to the opening
SOUTHWEST MONSOON AFFECTING LUZON as of 4:00 pm - July 18, 2019
up of the domestic market following the enactment of the rice trade liberalization law. The figure is greater than the P10 billion that rice farmers will receive via the Rice Competitiveness Enhancement Fund (RCEF) as mandated by Republic Act (RA) 11203. Last week, Piñol met with Department of Trade and Industry (DTI) officials to discuss the implementation of SRP on imported rice to ensure that the staple will remain affordable for consumers. See “SRP,” A4
Parametric insurance will simplify loss determination using new technology and methodology, speed up payment of claims, and provide immediate assistance in case of calamity,” he added. Parametric insurance is explained to be an insurance product that provides the policyholder a set amount of compensation based on the magnitude of a natural catastrophe like earthquakes, among others. “The proposed measure will also give the Insurance Commission the power to adopt the riskbased supervision [RBS] framework in the Philippines,” he said.
IRR signed for law on Dept of Human Settlements
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HE country’s worsening problem of homelessness and lack of access to shelter opportunities is envisioned to soon be addressed by the government, with the signing on Friday of the implementing rules and regulations (IRR) for Republic Act (RA) 11201, or the “Department of Human Settlements and Urban Development Act.” At a news conference on the sidelines of the signing, Housing and Urban Development Coordinating Council (HUDCC) Chairman Eduardo D. del Rosario said the measure will enable the estimated 81 percent of Filipinos —especially the unserved and underprivileged citizens—to be provided housing opportunities. “This [the Act] was signed on February 14, the day of the heart, because of President Duterte’s love for the Filipino family. This is the President’s wholehearted gift to 81 percent of Filipino families who wish to have a dream house of their own,” del Rosario said. The IRR consolidates the functions of the HUDCC with the Housing and Land Use Regulatory Board (HLURB) under the Department of Human Settlements and Urban Development (DHSUD), which was created by RA 11201 to manage housing, human settlements, as well as urban developments in the country. “Since 1986, HUDCC and key shelter agencies, through the government’s shelter delivery system under Executive Order 19 fell short in addressing the country’s housing needs that is estimated to reach 6.57 million by 2022. And if not appropriately addressed, [it] will balloon to 22.6 million by 2040,” he added. The IRR takes effect 15 days after its publication in the Official Gazette or in two newspapers of general circulation, with the full implementation slated on January 1, 2020, following a transition period of about five months from the effectivity of the IRR. “But HUDCC and the shelter agencies may not solely be blamed for the mounting housing needs and urban development problems,” del Rosario said. “Year in and year out the housing sector clamored for a bigger housing budget but unfortunately the housing sector technically received an average of only less than 1 percent of the country’s annual budget. But today, recognizing the need for structural changes and additional mandates, the country’s housing and urban landscape is up to a major transformation,” he said. The transition period will allow the Department of Budget and Management (DBM) and the Civil Service Commission (CSC) to approve new organizational structures and positions, and provide time for the transfer of personnel and assets, closing and opening of accounts, and the establishment of regional offices. The new organizational structures is being eyed to be completed in September this year, according to del Rosario. See “IRR,” A2
According to the IC,RBS is a comprehensive, formally structured system that assesses risks within the financial system, giving priority to the resolution of those risks. “The goal of the RBS is to identify the risk profile of the regulated entities, including the risk that the insurer will be facing in the future and to immediately address it,” he added. The proposed legislative measure will also provide additional protection to the insuring public through a provision on unc la imed sett lement benef its, allowable investment limits and the increase in the security fund,
according to the IC. Last week, insurance industry stakeholders also provided their wish list of the measures that they think President Duterte should include in his Sona on July 22. The umbrella organizations for the life and nonlife insurance sectors of the country said that they wished the President will touch on the promotion of insurance as mitigation tools in government’s disaster risk reduction, as well as keeping the minimum paid-up capital requirement for insurance players at P900 million, with no further increases.
OVER 5K DENGUE CASES IN A WEEK; RED CROSS SPRINGS INTO ACTION
D.O.H.-CALABARZON Regional Director Eduardo C. Janairo calls for an intensified and collaborative effort in the fight against dengue in the region during a public dialogue with local government officials, public health officers and private hospitals in Sta. Cruz, Laguna, on July 18, 2019. CONTRIBUTED PHOTO
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FTER declaring a National Dengue Alert due to the increasing number of cases observed in several regions, the Department of Health (DOH) reported a total of 5,744 dengue cases in just one week. The DOH reported over the weekend that dengue cases from June 30 to July 6 were 22 percent higher than last year’s 4,703 cases. The total number of dengue cases around the country has climbed to 115,986, with 491 deaths reported. The most number of dengue cases were recorded in Western Visayas region with 15,826; followed by Calabarzon with 12,780 cases; Soccsksargen with 9,572 cases; Northern Mindanao with 9,354 cases; and Central Visayas with 9,259 cases.
Red Cross action PHILIPPINE Red Cross (PRC) Chairman Richard Gordon ordered the immediate deployment of emergency medical tents to assist in the overflow of patients in Iloilo due to rising dengue cases. Earlier, Gordon received a request from Health Secretary Francisco Duque III to support the government’s efforts to address the rising health problem. Four sets of emergency medical tents were deployed from the PRC warehouse in Subic and were expected to arrive in Iloilo via ferry last Saturday, while another four sets were deployed via a C130 on Sunday. “PRC’s medical tents will help decongest the overloaded wards and provide comfort to the patients and their families. Similar to how we addressed the measles crisis earlier this year, we will continue to work with DOH to identify and fill the needs in the most affected communities,” Gordon said. The Red Cross also ensures the availability of blood for dengue patients in its blood center in Iloilo and nearby blood service facilities. PRC ambulances and welfare desks are also ready. PRC’s community health volunteers also intensified their information dissemination drives to encourage
Filipino families to do the “4S” of dengue prevention—search and destroy, self-protect, seek early consultation and say yes to fogging. “Dengue destruction should be done before it started. Let’s observe proper personal hygiene and keep our surroundings clean to steer away from these diseases,” Gordon added.
Dengue summit in Taguig TAGUIG held a Dengue Summit as a proactive response to dengue. Despite the low dengue attack rate in the city, the local government of Taguig held a Dengue Summit from July 17 to 19 to increase awareness about the disease and how to prevent it from spreading in the community. Barangay officials from Districts 1 and 2 and representatives from DepEd-Division of Taguig City and Pateros learned more about the roles of Aksyon Barangay Kontra Dengue (ABKD) in the community, the importance of ovicidal and larvicidal traps, and integrated vector management, among others, during the event in Antipolo. “Even before DOH’s declaration of a national dengue alert on Monday, the city has long been planning for this Dengue Summit to gather all barangays officials because you have a crucial role in fighting this viral disease in the community,”Mayor Lino Cayetano said during the last day of the summit in Antipolo, Rizal.
DOH-Calabarzon THE DOH-Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) meanwhile, has issued a Dengue Alert Response and Emergency Management of Cases to all Provincial Health Offices (PHOs), City Health Offices (CHOs), Municipal Health Officers (MHOs), Dengue Prevention and Control Program Coordinators, Provincial Department Of Health Office (PDOHO) and other concerned units in the region. “This is in support of the declaration of Health Secretary Francisco T. Duque on the National Dengue Alert due to the continuous increase See “Dengue,” A2
Editor: Efleda P. Campos
Companies BusinessMirror
Monday, July 22, 2019
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Ratings firm retains top rating on the bonds of Filinvest unit By VG Cabuag
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@villygc
YBERZONE Properties Inc., a unit of Gotianun-led Filinvest Land Inc. (FLI), has retained the highest score given by a local ratings firm on the company’s outstanding P6billion bond issue due in 2023. In its recent report, Philippine Rating Services Corp. (Philratings) maintained its credit rating of “PRS Aaa,” with a stable outlook on Cyberzone Properties. The PRS Aaa rating, the highest
assigned by Philratings, means it is of the highest quality with minimal credit risk. Its stable outlook indicates that the rating is likely to remain unchanged in the next 12 months.
Philrating said the rating reflects CPI’s “exceedingly competitive and focused office portfolio which has been consistently growing while maintaining high occupancy rates; synergies with the Filinvest Group, including an established brand name and track record, along with a highly experienced management team; consistently strong margins; and manageable liquidity in relation to debt servicing requirements.” CPI maintains a highly competitive and attractive portfolio of office buildings which cater mainly to technology-based companies, including those engaged in business- and knowledge-process outsourcing firms and support businesses.
Most of the company’s buildings are in Northgate Cyberzone, a Philippine Economic Zone Authority (Peza) Special Economic Zone (SEZ) in Filinvest City in Alabang, Muntinlupa, while some are also located in Cebu Cyberzone, also an economic zone in Lahug, Cebu City. Northgate Cyberzone has various supporting amenities and provides competitive rental rates which are significantly lower than those in the central business districts of Makati and Bonifacio Global City in Taguig. Philratings said despite the issues facing the BPO sector, it continued to be the main driver of office space leasing in the country as demand for office space in the Philippines reached a record high
1.5 million square meters as of end-2018. On the profitability side, CPI revenues rose 22 percent in 2018 to P2.4 billion, while its net income last year increased by 19 percent to P1.4 billion and net profit margin was healthy at 59.9 percent. Costs and expenses likewise grew by 25 percent, slightly outpacing revenue growth. The resulting Ebit (earnings before interest and taxes) margin remained strong at 73.3 percent.
CPI’s profitability is seen to continue its growth trajectory in 2019 and 2020, supported by the expected full occupancy by 2020 of Filinvest Axis Tower One in Alabang and Filinvest Cebu Cyberzone Tower Two. “This is in line with the historical trend of CPI’s buildings being fully leased out around two years after turnover date. Moreover, the rest of CPI’s operational buildings are expected to continue to be fully leased out until 2020,” it said.
TRAVELING WITH A CHILD OR A PET? GRAB HAS SPECIAL OFFERS FOR YOU PAL to hold meeting by end-July By Lorenz S. Marasigan @lorenzmarasigan
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UPER APP Grab has beefed up its transport offerings with the introduction of two new services, GrabFamily and GrabPet, and the upgrading of an existing one, GrabCar Premium. GrabFamily is a transport service equipped with a dedicated child safety seat and amenities such as an emesis bag, baby wipes, rubbing alcohol and tissue paper. Initially available in Metro Manila, GrabFamily can seat five adults and one child comfortably. Each child safety seat is suited for a child aged from one year to 12 years old, a working weight of 15 kilograms to 36 kilograms, and with a height of 4’9” below. The new service is Grab’s com-
pliance with Republic Act 11229 also known as Child Safety in Motor Vehicle Act, which requires public transport vehicles to implement safety measures for children. GrabPet, on the other hand, is a dedicated pet transport service that allows pet owners to travel with their dogs, cats, turtles, hamsters, rabbits and fish in Metro Manila. GrabPet cars have special equipment to ensure the best and most comfortable transport service to both the pet and its parent, such as: pet kennel, waterproof cargo liner and pet barrier. “We are mindful of the everchanging and sophisticated needs of our consumers, and we at Grab always strive to hear our customers out and outserve them by bringing new services that support their daily
needs,” Grab President Brian P. Cu said. “We will continue to develop and tailor-fit innovative services for our consumers’ daily needs.” Grab also upgraded its GrabCar Premium service through better cars, better drivers and better travel experience. With the new GrabCar Premium service, passengers will be able to experience a chauffeured service on cars, such as Toyota Fortuner, Ford Everest, Mitsubishi Montero Sport, Hyundai Tucson, or Mazda CX-5. Drivers are also required to undergo Premium Service Certification Training and A1’s Advanced Defensive Driving Training to ensure that each driver delivers a brand of service to make every journey special and effortless. Each GrabCar Premium vehicle comfortably seats up to four pas-
sengers with spacious leg room, clean and comfortable leather seats, fresh car scents and a box of facial wipes, allowing passengers to relax while in transit, and be at their best upon reaching their destination. The new GrabCar Premium also showcases a new Premium Kit, which includes an umbrella, a car charger, bottled water and mint candies. “While we continue to chart our path toward our super app success, we believe that it is very important for us to continuously challenge ourselves and commit to superior service excellence in our first foray—transportation, and we aim to do just that with the relaunch of GrabCar Premium—Grab’s flagship ride-hailing line,” Cu said.
MPT South to open Paleco touts big drop in duration, 1st segment of C-5 Link frequency of service disruptions Expressway Tuesday
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ETRO Pacific Tollways South Corp. (MPT South) is set to open the first section of the 7.7-kilometer C-5 Link Expressway on Tuesday, company and government officials announced on Sunday. During the final inspection of the C-5 Link Flyover, which connects C-5 to Merville in Pasay and Sucat in Parañaque, Public Works Secretary Mark A. Villar said the opening of the P1.6-billion section of the expressway will help address a number of bottlenecks in Metro Manila. “Vehicular traffic spends about 1.5 hours just to cross from Villamor area in Pasay City to Taguig via Fort Bonifacio. On opening, this section will have three lanes on each direction and will enable about 8,000 vehicles to easily cross in half that time,” he said. C-5 Link Flyover will serve as an alternate road for commuters traveling between Fort Bonifacio, CP Garcia (C-5), Taguig City, Parañaque City, Las Piñas City and Pasay City. It will directly cross over, from C-5, the Metro Manila Skyway and the South Luzon Expressway, to Merville and Sucat. It aims to decongest Sales Road, the East Service Road and the West Service Road. The whole project, a 7.7-kilometer road, is expected to decongest Sales Road in Pasay and Edsa, cutting travel time from Parañaque, Las Piñas, and Cavite to Taguig to as much short as 20 minutes. “We are on our final touches for this segment. Ultimately, we foresee that the Cavitex-C5 Link Expressway will benefit about 50,000 vehicles daily and will afford commuters the expressway experience south of Metro Manila from our Parañaque Toll Plaza to C-5 in Taguig City,” Roberto V. Bontia, president of Cavitex Infrastructure Inc., said. He added that the group will start the bidding process for the next segments this week. “We intend to start construction of the next 2.1-kilometer section from Merville to Sucat, Las Piñas City by fourth quarter of this year,” he said. Lorenz S. Marasigan
By Lenie Lectura @llectura
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HE Palawan Electric Co. (Paleco) cited over the weekend improvements in electricity services to its customers, particularly a significant reduction in the duration and frequency of power interruption. “If we compare the Saidi [System Average Interruption Duration Index] and the Saifi [System Average Interruption Frequency Index] between the time when President Duterte cautioned [on] the privatization of power distribution services in Palawan and what we have now, interruption frequency and duration experienced by our customers have significantly reduced by at least 50 percent,” Paleco Chairman Jeffrey Y. Tan-Endriga said. Among the measures undertaken by Paleco include massive clearing of trees in the entire coverage area; continuous conduct of regular thermal scanning of power substation equipment and distribution lines to prevent hot spots; transformer load management; massive inspection, resealing, modification and change of defective big load meters and instrument transformers; meter clustering of residential consumers along squatter, coastal and other areas with suspected pilferages, coordination of protective devices, improvement of grounding system and capacitating of technical personnel on distribution maintenance and substation operation. “For Paleco, these unplanned power interruptions are caused mostly by heavy vegetation and wildlife incursion attributed to the vast forest cover of Palawan,” he said, explaining that the “stringent” rules of DENR and local government policies in Palawan limit Paleco from conducting “massive line clearing to protect the integrity of the lines.” Tan-Endriga said at least 40 percent of the total power interruptions recorded from January 2019 to May 2019 are attributed to power plants which may be caused by abnormal engine tripping, old-aged generating units, and uncoordinated protection equipment
settings between new power players, National Power Corp. and Paleco. The electric cooperative is also working on several key projects to improve its services. These include installation of additional substations and improve the reliability of power delivery to consumers in farflung areas. Paleco will also install a Supervisory Control and Data Acquisition (Scada) to ensure real-time monitoring and faster response to required line operations. “It is becoming clear now that power outages are not just coming from the distribution side. The transmission and generation are also contributory to such issues,” Tan-Endriga noted. The lack of funds, he said, also caused delays in the improvement of Paleco’s services since its capital expenditure (capex) program was only approved in November 2018. “Paleco is moving toward system’s loss reduction and improvement of reliability indices [Saidi and Saifi] which are indicators of EC’s technical performance. With the approval of our capex, we can now start the much-needed facility improvements which will lead to the improvement of electricity services in our franchise area. We hope to further reduce our system interruption duration and frequencies by at least 50 percent from the previous year as what we have already achieved in the first semester of 2019,” Tan-Endriga said. Paleco is strongly opposing the renewed interest of MORE Reedbank Corp. to take over its distribution franchise as this will not immediately solve the power supply situation in the island of Palawan. “We believe that [takeover] is not justified. Paleco has been doing its best to improve its services particularly its reliability indices,” he said. To date, Paleco has maintained its outstanding classification based on National Electrification Administration’s performance standards. It was categorized as an “AA” Electric Cooperative, reflecting exemplary performance under the operational and financial parameters of the agency.
to discuss new president - source
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HE board of Philippine Airlines will meet before the end of the month to discuss issues surrounding the flag carrier, including its head-hunting efforts for the next chief executive. “This, a temporar y arrangement, an interim arrangement, with Kapitan [tycoon Lucio Tan] as acting president and Vivienne Tan assisting day-to day operations. This is happening in the interim, while PAL management and the board have yet to announce the selec tion of a new president,” a co m p any s o u rce to l d r e p o r te r s . Its board will meet on July 29. With the retirement of Jaime J. Bau-
tista as president and CEO of PAL, Lucio C. Tan, currently PAL Holdings Inc., chairman has assumed the post as interim president assisted by his daughter Vivienne K. Tan, who will remain as its executive vice president treasurer and chief administrative officer. “[It has to be] somebody with exceptional management skills,” the source said, referring to the company’s new president. “We are already No. 30 [Skytrax rating], and there’s a changing of the guard. That is why we want continuity; that’s why we have all these. Lucio Tan came in for us to be stronger [organization during] the transition period,” the source added. VG Cabuag
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Companies BusinessMirror
Monday, July 22, 2019
PSE STOCK QUOTATIONS
July 19, 2019
Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS
ASIA UNITED 58.5 58.95 59 59 58 58.95 29,420 1,731,878 BDO UNIBANK 148 148.1 147.9 149.5 147.1 148 1,257,370 186,339,732 BANK PH ISLANDS 92.2 93 91.8 93 90.5 93 4,812,250 444,500,151.5 CHINABANK 27.55 27.6 27.6 27.65 27.55 27.6 238,600 6,585,495 EAST WEST BANK 12.44 12.46 12.58 12.6 12.3 12.44 956,100 11,863,040 METROBANK 77.7 78 77.55 78.2 77.5 78 3,192,490 248,776,355 PB BANK 13.2 13.24 13.2 13.2 13.2 13.2 4,900 64,680 PHIL NATL BANK 52.05 52.35 53.15 53.15 50.85 52.05 1,594,710 82,331,981 PSBANK 58.65 58.7 58.3 58.65 58.3 58.65 4,430 259,304.5 RCBC 27.35 27.4 27.55 27.55 27.4 27.4 59,300 1,630,605 SECURITY BANK 186.8 187.1 187.4 187.4 186.3 187 474,620 88,748,662 UNION BANK 59.8 60 61.5 61.8 59.5 60 7,630 457,887 BRIGHT KINDLE 1.2 1.23 1.22 1.24 1.2 1.2 246,000 297,670 COL FINANCIAL 18.6 18.7 18.7 18.7 18.6 18.7 700 13,080 FERRONOUX HLDG 4.71 4.79 4.85 4.85 4.7 4.79 16,000 75,720 MEDCO HLDG 0.465 0.475 0.465 0.475 0.465 0.475 130,000 60,550 NTL REINSURANCE 1.09 1.1 1.03 1.11 1.03 1.09 3,689,000 3,973,420 PHIL STOCK EXCH 189.5 190 194 194 189.5 190 1,040 198,165 INDUSTRIAL ALSONS CONS 1.31 1.32 1.33 1.33 1.31 1.31 394,000 520,700 ABOITIZ POWER 36.75 37 37.5 37.5 36.65 37 2,073,400 76,861,050 BASIC ENERGY 0.265 0.27 0.275 0.275 0.265 0.27 3,860,000 1,041,300 FIRST GEN 26.25 26.35 26.5 26.5 26.25 26.35 2,754,900 72,509,465 FIRST PHIL HLDG 89.3 89.35 90.2 90.3 89.2 89.35 493,230 44,318,065 MERALCO 382 383 381 383 380 383 127,800 48,834,240 MANILA WATER 24.55 24.6 24.6 24.7 24.45 24.6 712,300 17,547,780 PETRON 5.68 5.7 5.83 5.84 5.66 5.68 4,762,900 27,208,622 PETROENERGY 4.78 4.85 4.81 4.86 4.79 4.85 62,000 299,090 PHINMA ENERGY 2.57 2.58 2.55 2.59 2.52 2.57 7,100,000 18,110,350 PHX PETROLEUM 11.78 12.02 11.8 12.04 11.78 11.78 22,900 271,344 PILIPINAS SHELL 39.55 39.6 39.7 39.75 39.4 39.6 109,300 4,334,830 SPC POWER 6.52 6.6 6.6 6.6 6.51 6.6 143,700 937,902 AGRINURTURE 14.16 14.24 14.32 14.4 14.16 14.24 1,227,200 17,487,856 CNTRL AZUCARERA 15.8 16.8 16.7 16.9 16.7 16.9 2,500 41,950 CENTURY FOOD 15.02 15.04 14.98 15.04 14.84 15.04 99,800 1,495,932 DEL MONTE 6.2 6.3 6.24 6.26 6.2 6.2 51,900 323,060 DNL INDUS 10.36 10.38 10.36 10.4 10.3 10.36 1,011,400 10,474,156 EMPERADOR 7.54 7.55 7.51 7.56 7.51 7.55 849,200 6,410,177 SMC FOODANDBEV 104 104.9 104.8 104.9 102.7 104.9 266,040 27,792,833 ALLIANCE SELECT 0.82 0.83 0.82 0.83 0.81 0.83 757,000 621,070 GINEBRA 60.4 60.5 60.3 61 59.05 60.5 61,050 3,689,272.5 JOLLIBEE 279.6 279.8 279.4 282.4 278.2 279.8 622,360 174,127,108 MACAY HLDG 9.01 9.43 9.28 9.49 9 9 15,000 137,642 MAXS GROUP 14.04 14.18 14.2 14.2 13.96 14.04 258,500 3,623,170 MG HLDG 0.189 0.196 0.189 0.192 0.189 0.189 220,000 41,700 PEPSI COLA 1.77 1.78 1.73 1.8 1.73 1.78 3,270,000 5,819,260 SHAKEYS PIZZA 14.54 14.68 14.46 14.68 14.44 14.68 18,100 263,632 ROXAS AND CO 1.47 1.49 1.49 1.49 1.46 1.48 173,000 253,720 RFM CORP 4.92 5 5 5 4.92 5 1,307,700 6,538,428 ROXAS HLDG 2.17 2.18 2.25 2.25 2.07 2.17 172,000 360,960 SWIFT FOODS 0.128 0.129 0.128 0.128 0.128 0.128 120,000 15,360 UNIV ROBINA 166 169.6 169.1 171.9 165.5 166 1,204,100 202,158,915 VITARICH 1.27 1.28 1.32 1.32 1.27 1.27 3,458,000 4,463,420 VICTORIAS 2.51 2.55 2.53 2.55 2.53 2.55 41,000 104,330 CONCRETE A 78.2 79.8 83 83 78 78.1 11,750 933,221.5 CONCRETE B 90.1 93.5 94 94.05 90 93.5 3,130 284,091 CEMEX HLDG 2.73 2.74 2.82 2.85 2.74 2.74 5,358,000 14,901,380 DAVINCI CAPITAL 5.22 5.7 5.3 5.3 5.2 5.22 89,300 469,722 EAGLE CEMENT 15 15.06 15.22 15.3 15 15 2,261,100 34,053,302 EEI CORP 11 11.2 11.1 11.2 10.98 11.2 1,166,900 12,878,590 HOLCIM 14.14 14.22 14.34 14.34 14.12 14.22 94,300 1,343,912 MEGAWIDE 18.48 18.5 18.58 18.58 18.44 18.5 532,400 9,845,106(7, PHINMA 8.8 9.2 9 9.1 9 9.1 3,005,500 27,349,500 TKC METALS 1.15 1.16 1.19 1.19 1.16 1.16 153,000 177,810 VULCAN INDL 1.37 1.38 1.39 1.4 1.36 1.38 3,315,000 4,547,120 CHEMPHIL 108.6 115.6 108.3 115.6 108.3 115.6 40 4,551 CROWN ASIA 2.05 2.06 2.02 2.05 2.02 2.05 99,000 202,450 PRYCE CORP 4.9 5.04 4.9 5.04 4.9 5.04 54,000 265,730 CONCEPCION 41 41.75 41 41 41 41 200 8,200 GREENERGY 2.37 2.38 2.37 2.39 2.33 2.38 6,811,000 16,121,220 INTEGRATED MICR 9.59 9.6 9.61 9.65 9.54 9.59 217,600 2,082,960 IONICS 1.69 1.7 1.7 1.77 1.7 1.7 436,000 748,950 PANASONIC 5.5 5.76 5.76 5.81 5.76 5.76 45,100 259,866 SFA SEMICON 1.12 1.13 1.14 1.15 1.11 1.13 279,000 315,040 CIRTEK HLDG 17.54 17.56 17.8 17.9 17.54 17.56 203,700 3,597,054 HOLDING & FRIMS ABACORE CAPITAL 0.98 0.99 0.99 1 0.98 0.99 10,819,000 10,662,030 ASIABEST GROUP 16.28 16.3 17.5 17.56 16.04 16.28 630,400 10,587,858 AYALA CORP 950 950.5 942 950 942 950 722,040 685,533,330 ABOITIZ EQUITY 57.6 57.65 57.9 57.9 57.3 57.65 1,170,040 67,522,920 ALLIANCE GLOBAL 15.86 15.9 15.6 16.04 15.48 15.9 8,617,000 137,092,910 AYALA LAND LOG 4.01 4.02 3.97 4.01 3.91 4.01 5,139,000 20,485,150 ANSCOR 7 7.01 7 7.02 7 7 91,700 641,979 ANGLO PHIL HLDG 0.73 0.74 0.75 0.75 0.74 0.74 211,000 156,820 ATN HLDG A 1.29 1.3 1.29 1.31 1.28 1.29 658,000 848,460 ATN HLDG B 1.3 1.31 1.31 1.31 1.31 1.31 284,000 372,040 COSCO CAPITAL 7.16 7.18 7.19 7.19 7.06 7.16 770,600 5,494,055 DMCI HLDG 10.52 10.56 10.6 10.64 10.52 10.56 5,744,500 60,752,680 FILINVEST DEV 14.02 14.08 14.18 14.18 14 14.08 46,800 659,110 GT CAPITAL 920 924 930 935 917.5 920 74,370 68,914,950 HOUSE OF INV 6.49 6.5 6.5 6.51 6.45 6.5 202,900 1,318,762 JG SUMMIT 68.45 69.3 69.85 69.9 68.45 68.45 928,380 63,997,179 LODESTAR 0.52 0.53 0.54 0.54 0.52 0.52 135,000 70,400 LOPEZ HLDG 4.6 4.62 4.62 4.63 4.6 4.61 750,000 3,452,890 LT GROUP 15.26 15.3 15.88 15.88 15.2 15.26 2,820,700 43,372,190 MABUHAY HLDG 0.64 0.65 0.63 0.65 0.63 0.65 486,000 310,760 MJC INVESTMENTS 2.61 2.89 2.61 2.61 2.61 2.61 15,000 39,150 METRO PAC INV 4.78 4.79 4.77 4.79 4.71 4.79 24,044,000 114,880,620 PACIFICA 0.039 0.04 0.039 0.039 0.039 0.039 8,800,000 343,200 PRIME MEDIA 1.62 1.64 1.68 1.68 1.58 1.64 6,121,000 9,859,510 REPUBLIC GLASS 2.93 2.94 2.93 2.93 2.93 2.93 8,000 23,440 SOLID GROUP 1.37 1.39 1.39 1.39 1.37 1.39 39,000 53,550 SM INVESTMENTS 990 990.5 982 998.5 982 990 132,940 131,236,310 SAN MIGUEL CORP 174.9 175 175.8 176.9 175 175 518,960 91,153,136 SOC RESOURCES 0.83 0.85 0.84 0.85 0.83 0.85 162,000 135,300 TOP FRONTIER 259 260 260 260 256.2 260 2,070 537,116 WELLEX INDUS 0.238 0.244 0.245 0.245 0.238 0.244 2,270,000 545,440 ZEUS HLDG 0.29 0.295 0.295 0.295 0.29 0.295 3,110,000 911,050
1,636,510 34,505,647 371,484,356 (894,240) (6,540,418) 71,452,984 15,061,642 (360,195) 71,247,890 (190,200) (11,220) (39,560) (177,065) 9,205,840 (39,018,980) (15,022,783) 5,112,086 (1,668,325) (12,000,252) 10,670 (1,093,325) (5,148,994) 586,594 (66,761) 8,921,638 680,342 (2,516,332) 434,674 (48,950,926) 213,250 5,670 (2,921,070) 36,556 (6,506,000) 31,560 (82,569,026) (66,560) 25,500 676,440 (3,761,042) 1,834,368 (604,886) 252,579.9997) (27,300,000) 242,410 (191,100) (2,799,920) (529,505) 35,160 (111,870) (208,880) 266,856,565 (4,895,769) 4,359,166 3,730,690 (387,127) 22,200 2,482,536 (18,806,728) (2,740) 25,562,505 (1,244,794) 11,145,874.5 (1,214,450) (25,482,230) 44,586,420 779,980 13,700 (18,076,335) (13,403,479) (500,716) 11,900 -
PROPERTY
ARTHALAND CORP 1.03 1.05 1.05 1.07 1.01 1.05 14,906,000 15,381,040 (17,400) ANCHOR LAND 10.56 10.88 10.32 11 10.3 10.88 20,300 213,052 AYALA LAND 52 52.3 52.5 52.85 52 52 8,880,370 465,635,220.5 9,732,705.5 ARANETA PROP 2.12 2.15 2.1 2.15 2.1 2.15 166,000 355,210 BELLE CORP 2.33 2.34 2.34 2.34 2.31 2.33 385,000 897,040 (195,900) A BROWN 0.87 0.88 0.88 0.89 0.86 0.88 1,591,000 1,380,310 21,500 CROWN EQUITIES 0.24 0.243 0.241 0.243 0.239 0.24 1,600,000 384,260 314,500 CEBU HLDG 6.12 6.16 6.2 6.2 6.2 6.2 400 2,480 (2,480) CEB LANDMASTERS 5.16 5.17 5.3 5.3 5.12 5.17 1,303,200 6,776,889 76,800 CENTURY PROP 0.62 0.63 0.63 0.65 0.63 0.63 18,567,000 11,728,060 155,090 CYBER BAY 0.465 0.475 0.485 0.49 0.465 0.475 2,900,000 1,366,700 94,000 DOUBLEDRAGON 25 25.05 25.3 25.3 25 25.05 139,700 3,516,305 632,130 DM WENCESLAO 9.8 9.96 9.77 9.96 9.68 9.96 540,000 5,278,288 (550,843) EMPIRE EAST 0.47 0.475 0.475 0.48 0.475 0.475 7,550,000 3,597,200 (3,144,650) EVER GOTESCO 0.13 0.133 0.123 0.123 0.123 0.123 50,230,000 6,178,290 FILINVEST LAND 1.95 1.96 2.01 2.02 1.96 1.96 33,893,000 67,382,590(11 ,606,729.9997) GLOBAL ESTATE 1.4 1.41 1.4 1.42 1.4 1.4 555,000 780,590 8990 HLDG 15.76 15.8 15.84 15.84 15.72 15.8 105,600 1,663,880 (137,086) PHIL INFRADEV 1.72 1.74 1.73 1.74 1.72 1.72 1,268,000 2,192,460 KEPPEL PROP 4 4.75 3.95 4.75 3.95 4.75 668,000 2,686,060 CITY AND LAND 0.81 0.82 0.84 0.84 0.81 0.82 38,000 31,430 1,620 MEGAWORLD 6.4 6.44 6.25 6.44 6.25 6.44 22,220,100 141,925,118 53,781,815 MRC ALLIED 0.365 0.37 0.375 0.38 0.36 0.37 45,320,000 16,833,900 141,800 PHIL ESTATES 0.49 0.51 0.5 0.52 0.49 0.51 1,511,000 758,360 17,850 PRIMEX CORP 2.1 2.14 2.13 2.14 2.11 2.11 309,000 653,140 ROBINSONS LAND 27 27.2 27 27.75 26.95 27.2 2,066,900 56,436,150 8,339,445 PHIL REALTY 0.41 0.42 0.415 0.415 0.415 0.415 240,000 99,600 ROCKWELL 2.3 2.32 2.28 2.31 2.27 2.31 203,000 465,550 SHANG PROP 3.14 3.19 3.19 3.19 3.19 3.19 52,000 165,880 STA LUCIA LAND 2.02 2.03 2.09 2.09 2.02 2.02 204,000 415,080 SM PRIME HLDG 38.6 38.7 38.75 38.85 38.5 38.7 6,279,000 243,006,805 25,188,235 STARMALLS 6.27 6.28 6.32 6.63 6.25 6.28 739,000 4,767,102 SUNTRUST HOME 0.81 0.82 0.81 0.82 0.81 0.82 222,000 181,370 VISTA LAND 7.68 7.75 7.8 7.81 7.68 7.75 9,240,000 71,604,132 4,962,469 SERVICES ABS CBN 17.7 17.84 17.4 17.86 17.36 17.84 461,700 8,148,502 GMA NETWORK 5.41 5.42 5.41 5.41 5.39 5.41 113,500 613,243 MANILA BULLETIN 0.53 0.55 0.54 0.55 0.53 0.55 624,000 331,830 MLA BRDCASTING 14.4 15.26 14.4 14.4 14.4 14.4 600 8,640 GLOBE TELECOM 2,230 2,244 2238 2,260 2,220 2,244 94,360 211,801,100 125,475,950 PLDT 1,186 1,187 1198 1,203 1,187 1,187 165,360 197,032,450 5,076,945 APOLLO GLOBAL 0.049 0.051 0.049 0.052 0.049 0.051 59,400,000 3,008,500 DFNN INC 6 6.4 6.4 6.4 6.4 6.4 1,000 6,400 IMPERIAL 1.8 1.92 1.84 1.85 1.76 1.85 574,000 1,033,850 18,100 ISLAND INFO 0.116 0.117 0.12 0.12 0.114 0.117 8,130,000 938,620 ISM COMM 5.76 5.78 5.75 5.79 5.7 5.76 1,997,200 11,470,713 (1,415,768) JACKSTONES 2.96 3.01 2.96 2.96 2.96 2.96 72,000 213,120 NOW CORP 2.71 2.72 2.6 2.72 2.58 2.71 11,485,000 30,691,260 (1,188,390) TRANSPACIFIC BR 0.365 0.37 0.36 0.37 0.36 0.365 5,430,000 1,977,450 PHILWEB 4.24 4.25 4.19 4.25 4.16 4.24 1,561,000 6,582,970 607,000 2GO GROUP 11.1 11.2 11.08 11.2 11.08 11.2 5,200 57,762 ASIAN TERMINALS 19.94 21 21 21.6 19.94 21 14,000 294,720 CHELSEA 7.93 7.94 7.85 7.98 7.75 7.93 1,151,000 9,048,865 (130,976) CEBU AIR 96.3 96.45 95.5 96.5 95.25 96.45 290,250 27,920,683.5 20,447,746 INTL CONTAINER 141.6 141.9 143.9 144 141.6 141.6 1,293,940 184,469,351 (4,542,870) LBC EXPRESS 14.8 14.86 14.12 14.86 14.12 14.86 1,300 19,050 LORENZO SHIPPNG 0.92 0.94 0.88 0.95 0.88 0.94 1,107,000 1,023,300 MACROASIA 19.4 19.5 19.5 19.56 19.3 19.5 325,000 6,329,344 (38,800) METROALLIANCE A 1.49 1.62 1.5 1.5 1.5 1.5 104,000 156,000 METROALLIANCE B 1.52 1.54 1.54 1.54 1.54 1.54 22,000 33,880 PAL HLDG 9.22 9.23 9.49 9.49 9.21 9.23 28,900 270,210 46,590 HARBOR STAR 2.17 2.18 2.2 2.2 2.15 2.17 1,386,000 3,007,340 216,700 ACESITE HOTEL 1.49 1.5 1.49 1.52 1.48 1.5 261,000 391,680 BOULEVARD HLDG 0.065 0.066 0.066 0.069 0.065 0.066 124,800,000 8,312,600 (201,000) DISCOVERY WORLD 2.06 2.3 2.12 2.12 2.12 2.12 5,000 10,600 WATERFRONT 0.86 0.87 0.87 0.88 0.85 0.86 4,825,000 4,145,690 67,760 CENTRO ESCOLAR 7.02 7.19 7.03 7.03 7 7 14,200 99,612 30,128 IPEOPLE 9.52 9.56 9.7 9.7 9.56 9.56 15,000 143,428 STI HLDG 0.79 0.8 0.79 0.8 0.79 0.8 2,426,000 1,918,580 557,950 BERJAYA 2.64 2.67 2.6 2.68 2.55 2.67 1,430,000 3,731,560 (217,300) BLOOMBERRY 11.52 11.66 11.9 11.9 11.52 11.52 5,926,500 68,773,556 (33,724,380) PACIFIC ONLINE 2.9 2.98 2.99 2.99 2.97 2.97 8,000 23,880 LEISURE AND RES 3.8 3.84 3.81 3.89 3.8 3.84 1,231,000 4,692,700 (1,635,400) MANILA JOCKEY 3.62 3.7 3.86 3.86 3.6 3.7 225,000 832,490 PH RESORTS GRP 5.21 5.35 5.34 5.35 5.25 5.25 50,200 263,569 PREMIUM LEISURE 0.74 0.75 0.74 0.75 0.74 0.74 2,293,000 1,699,590 (148,000) TRAVELLERS 5.48 5.55 5.49 5.53 5.42 5.53 413,400 2,270,126 426,466 METRO RETAIL 2.81 2.83 2.76 2.83 2.76 2.81 1,331,000 3,738,450 (1,210,010) PUREGOLD 45.85 45.9 45.35 46.2 45.3 45.9 1,435,600 65,825,870 20,696,100 ROBINSONS RTL 77.75 78.25 77 78 77 78 764,130 59,338,373 48,263,516.5 PHIL SEVEN CORP 144 145 143 144 141 144 6,640 952,040 939,170 SSI GROUP 3.4 3.41 3.42 3.45 3.39 3.41 2,072,000 7,065,410 1,298,010 WILCON DEPOT 15.14 15.16 15.66 15.66 15.02 15.14 16,704,100 253,266,990 (57,542,758) APC GROUP 0.56 0.57 0.56 0.57 0.55 0.56 3,804,000 2,131,170 EASYCALL 9.89 10.14 10.06 10.22 9.85 10.14 21,000 209,500 GOLDEN BRIA 421.2 434 428.4 483 418.2 421.2 38,550 16,931,228 4,398 IPM HLDG 5.5 5.75 5.75 5.75 5.55 5.64 19,600 110,896 PRMIERE HORIZON 0.85 0.86 0.82 0.87 0.82 0.86 287,576,000 238,855,200 7,957,840 SBS PHIL CORP 9.27 9.45 9.4 9.45 9.4 9.45 12,500 117,965 MINING & OIL ATOK 13.3 13.4 14 14.18 13.3 13.4 40,300 544,550 APEX MINING 1.2 1.21 1.22 1.24 1.19 1.2 7,377,000 8,962,570 (482,610) ABRA MINING 0.0017 0.0018 0 0.0016 0.0018 0.0016 0.0017 339,000,000 575,700 ATLAS MINING 2.69 2.79 2.8 2.8 2.69 2.69 43,000 118,980 84,000 COAL ASIA HLDG 0.28 0.29 0.28 0.285 0.28 0.28 910,000 255,800 CENTURY PEAK 2.8 2.83 2.8 2.8 2.79 2.8 224,000 626,880 (89,280) DIZON MINES 7.65 7.78 7.8 7.82 7.65 7.78 45,700 353,942 FERRONICKEL 1.55 1.58 1.48 1.58 1.48 1.55 31,888,000 47,961,690 573,490 GEOGRACE 0.219 0.223 0.223 0.225 0.22 0.223 740,000 163,730 LEPANTO A 0.108 0.11 0.108 0.112 0.108 0.11 3,300,000 360,330 LEPANTO B 0.116 0.12 0.12 0.12 0.12 0.12 50,000 6,000 MANILA MINING A 0.0076 0.0077 0 0.0076 0.0076 0.0076 0.0076 29,000,000 220,400 MARCVENTURES 1.21 1.22 1.18 1.26 1.18 1.22 1,438,000 1,766,290 (108,720) NIHAO 1.09 1.12 1.06 1.12 1.06 1.1 618,000 681,160 NICKEL ASIA 2.7 2.72 2.48 2.75 2.48 2.7 37,801,000 101,125,420 6,193,220 ORNTL PENINSULA 0.91 0.92 0.88 0.94 0.88 0.91 5,682,000 5,183,370 26,600 PX MINING 3.75 3.78 3.85 3.86 3.75 3.75 728,000 2,759,900 (1,346,270) SEMIRARA MINING 24 24.05 23.75 24.15 23.75 24 3,599,400 86,328,840 (30,166,390) UNITED PARAGON 0.0064 0.0067 0 0.0066 0.0067 0.0065 0.0065 7,000,000 45,800 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 1,100,000 13,200 PHILODRILL 0.011 0.012 0.011 0.012 0.01 0.011 20,100,000 214,300 6,000 PHINMA PETRO 6.08 6.09 5.71 6.28 5.56 6.09 1,346,700 7,951,736 8,850 PXP ENERGY 8.66 8.67 9.26 9.26 8.6 8.66 3,764,700 32,958,662 1,637,780 PREFFERED HOUSE PREF A 97.4 97.5 97.5 97.5 97.5 97.5 500 48,750 AC PREF B1 462.2 487 487.4 488 487.4 488 7,900 3,852,680 (1,949,600) AC PREF B2 492 495 494 495 494 495 5,690 2,812,890 DD PREF 99.5 99.65 99.5 100 99.5 99.5 20,590 2,050,980 SMC FB PREF 2 980 990 990 990 990 990 10 9,900 FGEN PREF G 102.5 105.4 103 105.5 103 105.5 11,700 1,209,350 FPH PREF C 420.2 480 480 480 450 450 40 18,600 GLO PREF P 480.8 490 490 490 490 490 5,000 2,450,000 GTCAP PREF B 921 944 944 944 944 944 40 37,760 LR PREF 0.98 1 0.99 0.99 0.99 0.99 150,000 148,500 (49,500) MWIDE PREF 100.1 102 102 102 102 102 60 6,120 PNX PREF 3B 105 107.5 107.5 107.5 107.5 107.5 50 5,375 PCOR PREF 2A 990 994 994 994 994 994 20 19,880 PCOR PREF 2B 1,000 1,010 1010 1,010 1,010 1,010 1,040 1,050,400 PCOR PREF 3A 1,008 1,010 1010 1,010 1,010 1,010 8,380 8,463,800 PCOR PREF 3B 1,012 1,014 1012 1,014 1,012 1,014 3,150 3,193,700 SMC PREF 2B 75.05 75.85 75.1 75.85 75.1 75.85 3,020 226,817 SMC PREF 2C 76.4 76.85 76.85 76.85 76.15 76.85 700 53,516.5 SMC PREF 2D 73.4 74 74 74.95 73.1 73.1 26,620 1,957,934.5 SMC PREF 2E 75 75.5 75 75 75 75 25,750 1,931,250 SMC PREF 2G 74 74.75 74.85 74.85 74.85 74.85 3,790 283,681.5 SMC PREF 2H 72.7 74.8 74.95 74.95 72.05 72.05 39,920 2,957,885.5 SMC PREF 2I 74.6 74.95 74.6 74.6 74.6 74.6 49,000 3,655,400(3, 431,599.9999)
PHIL. DEPOSITARY RECEIPTS
ABS HLDG PDR 16.82 17.1 16.8 17.1 16.8 17.1 361,600 6,145,326(2, GMA HLDG PDR 5.3 5.46 5.37 5.48 5.37 5.48 120,000 646,139
WARRANTS LR WARRANT
1.81
SMALL & MEDIUM ENTERPRISES ITALPINAS 5.52 XURPAS 1.09
1.85
1.81
1.86
1.81
1.81
224,000
406,740
-
5.53 1.1
5.37 1.11
5.56 1.11
5.34 1.08
5.53 1.1
1,016,300 2,720,000
5,546,130 2,973,670
1,146 (277,870)
EXHANGE TRADE FUNDS FIRST METRO ETF
123.7
694,446.0003) (403,287)
124.2
124
124.5
123.7
123.7
6,500
806,741
-
www.businessmirror.com.ph
Macro Asia to spin off its water business in 3 yrs By VG Cabuag
M
@villygc
ACRO Asia Corp., a company that mainly ser ves the local airline industry, is set to spin off its water unit in three years since the business is far different from its current operation. According to Joseph Chua, the company’s president and COO, it will grow further its water business, which may include sewage treatment, during the three-year period in preparation for the spin off. It will be placed within the LT Group Inc. and will only become an affiliate of Macro Asia.
Macro Asia currently has water concessions in Nueva Vizcaya, Cavite, Boracay Island, Bulacan, Albay and Iloilo. Operations of its Boracay Tubi System Inc. were affected when the government closed down the island to tourists for six months last year. The company said it was able to regain market share when it reopened in October 2018 after it signed long-term supply contracts with the hotels, to include the operations and maintenance of their sewage treatment plants. It was also able to build 70 sewage treatment plants for clients last year. “These water businesses will pro-
vide the diversification needed to boost Macro Asia’s growth outside of the aviation sector,” Chua said. Belgium Tandoc, Macro Asia’s assistant vice president for business development, explained the company needed to eventually spin off its water units as its rate of return on investments is far different from those of the aviation services business. “If you notice, most of the taipans are in water. [Manuel] Villar has Prime water, Ramon Ang [president and COO of San Miguel Corp.] has Bulacan bulk water project, Metro Pacific has Maynilad and Ayala has Manila Water. Because this [water business] will really fuel growth
later on. We are consumption driven; everybody has to drink. The good thing about water is demand doesn’t go down and the tariff will go up,” he said. As a result, Macro Asia will continue to become a company that serves the airline industry. “Overall, tourism will continue to be vibrant, as more travelers are benefiting from prevailing competitive fare offering of airlines,” Chua said. He said Macro Asia’s catering, ground handling and aircraft maintenance, and repair operations will continue to grow this year as a result of new clients that it was able to secure.
SPPC wants to buy gas from Excelerate’s planned LNG facility
S
OUTH Premier Power Corp. (SPPC), a unit of SMC Global Power Holdings Corp., is interested to purchase gas from US-based Excelerate Energy’s planned LNG (liquefied natural gas) facility in Batangas. “According to our natural gas division, it’s a letter of intent from SPPC to Excelerate to purchase LNG if, and when the latter is, able to finalize their project,” said Leonido Pulido, assistant secretary of the Department of Energy (DOE). Excelerate Energy has a pending application for notice to proceed to build a floating storage regasification unit in Batangas. The application, filed in January this year, remains pending. “They were asked to submit more documentation to substantiate their proposal,” Pulido said, when asked for the status of Excelerate Energy’s application. She said the company was asked to “provide an after market,” meaning, that
there should be a market for LNG that will be produced by Excelerate. He was told that Excelerate Energy would study SPPC’s offer. “SPPC can be a potential market for them,” citing the Ilijan power plant’s proximity to the planned LNG facility of Excelerate. “They will study the proposal of SPPC.” An LNG hub may comprise a storage or terminal, regasification and distribution facilities and gas plants, which would be the off-takers of the gas. SPPC is the independent power producer administrator (Ippa) for the 1,200-megawatt (MW) natural gas-fired power plant in Ilijan, Batangas. Excelerate Energy’s application is the fourth received by the DOE. The agency has already approved the applications of Tanglawan Philippine LNG Inc. and FGEN LNG Corp. (FGEN LNG). Tanglawan is a planned joint venture between
STOCK-MARKET OUTLOOK Last week
SHARE prices gained last week, with the main index outperforming most of its Asian peers as foreign investors started buying local stocks. The benchmark Philippine Stock Exchange index (PSEi) gained 128.25 points to close the week at 8,270.07 points. “This officially puts the PSEi in bull territory as it is up more than 20 percent from its low of 6,900 back in October of last year,” Christopher Mangun, research head at AAA Securities Inc., said. The main index was up at the start of the week, posting its biggest one-day gain for the year at 223.47 points, but gave up more than half of its gains during the next two days. It then recovered by the end of the week. Foreign investors were net buyers at P3.9 billion, while average daily trading for the week was at P7.02 billion, slightly higher than the year-to-date average of P6.55 billion. Other subindices ended mixed. The broader All Shares index was up 66.01 points to 5,010.71 points, the Financials index rose 88.49 to 1,877.28, the Industrial index fell 86.55 to 11,704.70, the Holding Firms index surged 184.69 to 7,942.92, the Property index was down 0.36 to 4,423.57, the Services index declined 11.94 to 1,681.71, and the Mining and Oil index surged 689.11 to 8,126.27. Gainers edged losers 142 to 71, and 34 shares were unchanged. Top gainers were Phinma Petroleum and Geothermal Inc., Asiabest Group International Inc., Nickel Asia Corp., Bank of the Philippine Islands, Manila Jockey Club and PXP Energy Corp. Top losers, on the other hand, were the A and B shares of Concrete Aggregates Corp., Wilcon Depot Inc., Greenergy Holdings Inc., Oriental Petroleum and Minerals Corp. A and Prime Media Holdings Inc.
This week
SHARE prices may continue their upswing this week, but analysts warned there may be profittaking along the way, especially on the shares that gained a lot last week. “For now, markets will heed for the first-half earnings result, as well as guidance how the second half would fare,” broker 2TradeAsia said. It added that with the upcoming Ghost Month for the Chinese by August, some of the investors may seize the opportunity to trade. 2TradeAsia sees immediate support for the main index at 8,200 points and resistance at 8,450 points. Investors will also look for guidance in President Duterte’s State of the Nation Address (Sona) on Monday. Mangun, meanwhile, said the market may see some profit-taking in the banks after their performances last week. “Investors are expecting better corporate earnings for the second quarter coupled with better GDP numbers which will come in a few weeks. If we see an increase in traded value on top of more foreign fund inflows, we may see it reach that resistance level in no time,” he said.
Stock picks
BROKER Regina Capital and Development Corp. gave a hold recommendation on the stock of Cebu Air Inc., the operator of Cebu Pacific (CEB), as its series of flight cancellation during the first half may affect its profitability. “The strong recovery that CEB is showing and the efforts it is undertaking to improve its efficiency prompted us to revise our earnings forecast upward and change our target price accordingly to P95.05 per share [However], we would recommend to hold as it no longer provides any upside at this level,” the broker said. Shares of Cebu Air closed at P96.45 apiece last Friday. On the other hand, the broker recommended taking profit on the stock of BPI after its technical analysis showed the stock had reached overbought levels. “BPI rode the bull run of the local index in spectacular fashion. The stock closed the gap up toward P90, from the bottom of P78.06, which it inhabited for a couple of weeks,” it said. “It looks like the P90 per share, five-month support won’t be able to buoy the stock to maintain the new level, but profit-taking will drag it somewhere between this level and the bottom,” it said. BPI shares ended at P93 apiece last week.
Phoenix Petroleum and CNOOC Gas and Power Group Co. Ltd., China’s largest LNG importer and terminal operator. It has asked the DOE to extend the NTP permit. FGEN LNG, a whollyowned subsidiary of First Gen Corp. (First Gen), broke ground for its LNG project last May. Tokyo Gas took in a 20-percent participating interest in the FGEN LNG project.
MUTUAL FUNDS
Australia’s Energy World Corp. Ltd. (EWC) secured a permit to construct, own and operate an LNG import terminal and regasification facility at Pagbilao Grande Island, Quezon province. Pulido also identified another foreign company interested to join the LNG bandwagon. Lenie Lectura
July 19, 2019
NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM GROWTH FUND, INC. -A 273.79 7.8% -0.23% 1.63% 8.56% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.6808 17.72% 7.41% 3.39% 16.66% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.2384 5.68% -0.68% 0.59% 8.59% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9899 10.73% N.A. N.A. 9.87% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.9063 7.6% N.A. N.A. 10.43% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.6636 7.87% 0.91% 1.55% 7.4% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.9124 6.15% -3.19% N.A. 9.05% MBG EQUITY INVESTMENT FUND, INC. -A 123.26 14.67% N.A. N.A. 6.11% PAMI EQUITY INDEX FUND, INC. -A 54.417 10.44% 0.61% N.A. 10.55% PHILAM STRATEGIC GROWTH FUND, INC. -A 565.97 9.56% -0.36% 1.54% 9.95% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3774 11.05% 1.66% 3.58% 9.84% PHILEQUITY FUND, INC. -A 40.3839 11.55% 2.21% 3.24% 10.24% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0885 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.5227 11.41% 1.6% 3.74% 11.37% PHILIPPINE STOCK INDEX FUND CORP. -A 922.25 11.47% 1.31% 3.71% 11.32% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9595 13.08% 0.48% N.A. 11.57% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.509 11.91% 1.53% 3.18% 11.09% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0594 10.9% 1.25% N.A. 11.01% UNITED FUND, INC. -A 3.8613 9.99% 2.7% 3.89% 10.3% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 123.4519 11.87% 2.17% 4.77% 11.47% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9938 -3.54% 4.62% -0.49% 6.96% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.322 1.88% 8.87% N.A. 19.62% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7935 7.65% -1.05% -0.75% 8.62% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3741 5.27% 0% 1.07% 7.46% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.7259 6.1% 0.62% -0.74% 7.19% GREPALIFE BALANCED FUND CORPORATION -A 1.3784 3.83% N.A. N.A. 5.68% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9771 7.31% 0.5% 1.76% 7.27% PAMI HORIZON FUND, INC. -A 3.8447 7.95% -0.5% 1.12% 8.94% PHILAM FUND, INC. -A 17.2929 8.71% -0.39% 1.12% 8.71% SOLIDARITAS FUND, INC. -A 2.2016 6.57% 0.8% 2.29% 6.4% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9913 9.87% 0.72% 2.13% 9.31% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 1.0449 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 1.0488 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 1.0455 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 1.0264 11.61% 0.95% 1.97% 11.36% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03749 6.75% 1.52% 2.04% 6.2% PAMI ASIA BALANCED FUND, INC. -A $1.0007 -0.13% 2.94% -0.79% 9.52% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7962 3.28% 6.21% 2.98% 14.74% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1151 3.94% 3.75% N.A. 10.41% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 351.48 3.6% 2.11% 2.22% 2.33% ATRAM CORPORATE BOND FUND, INC. -A,1 1.902 1.95% 0% -0.18% 2.3% COCOLIFE FIXED INCOME FUND, INC. -A 3.0549 5.34% 5.23% 5.27% 2.65% EKKLESIA MUTUAL FUND INC. -A 2.1955 3.63% 1.18% 1.9% 3.11% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3197 4.67% 1.04% 1.4% 5.2% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6056 1.85% -1.56% -0.01% 2.63% PHILAM BOND FUND, INC. -A 4.2099 6.82% -0.09% 1.39% 7.4% PHILEQUITY PESO BOND FUND, INC. -A 3.685 5.61% 1% 1.39% 4.77% SOLDIVO BOND FUND, INC. -A 0.9406 4.38% -0.69% N.A. 5.54% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.9783 8.22% 1.3% 2.2% 7.68% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6531 8.14% 0.9% 1.73% 7.35% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $459.8 3.72% 1.73% 2.75% 2.54% ALFM EURO BOND FUND, INC. -A Є218.33 2.36% 1.32% 1.51% 2.66% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1857 6.41% 1.78% 2.53% 5.33% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0256 3.64% 0.79% N.A. 3.23% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7147 1.13% -1.98% 0.58% 1.45% PAMI GLOBAL BOND FUND, INC -A $1.087 5.05% -0.43% -1.96% 4.89% PHILAM DOLLAR BOND FUND, INC. -A $2.3526 8.58% 0.82% 3.26% 8.37% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0593673 4.65% 1.55% 1.84% 4.15% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.087 7.02% 0.21% 2.7% 7.48% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 123.83 3.81% 2.48% 1.98% 2.44% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0163 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2197 4.2% 1.87% 1.14% 3.2% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2472 3.79% 2.7% 2.07% 2.3% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0292 2.19% N.A. N.A. 1.31% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU). 1 - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018. 2 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST JUNE 5, 2018. 3 - LAUNCH DATE IS JANUARY 3, 2019. 4 - LAUNCH DATE IS JANUARY 28, 2019. 5 - LAUNCH DATE IS FEBRUARY 1, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).
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Banking&Finance BusinessMirror
Perspectives
Integrating human and digital labor in a collaborative workplace
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EYOND the challenges involving redefined work forces and the application of new skills and a modern employee experience, today’s HR (human resources) leaders need to meet the arrival and proliferation of AI (artificial intelligence), robotics and machine learning (ML) head on. But the extent to which these smart technologies will impact the work force remains open to debate. As we’ve noted, about 60 percent of our HR survey respondents believe jobs will decline in number, while 62 percent of CEOs we surveyed expect AI and ML to drive up the number of jobs needing to be filled by humans. Certainly, no one doubts AI and ML will have an immense, even historic, impact on work forces everywhere—with 42 percent in our HR survey agreeing it’s the biggest challenge HR will face in the next five years. Of those HR leaders who are not planning to adopt any AI or ML anytime soon, half confirm they are not at all prepared and barely a third feel somewhat prepared. Fewer than one in 10 feel prepared or very prepared for the changes to come. So what’s holding HR back from taking the leap? According to HR leaders, HR functions who are currently undergoing— or have recently completed—a digital transformation consider capability (51 percent) and capacity (43 percent) to be the key barriers to transcending the initial phases of transformation. Similarly, most CIOs view internal skills as a barrier, with 65 percent in our 2018 CIO Survey citing “a lack of people with the right skills” for preventing their IT organization from keeping up with the pace of change. Leading HR organizations, however, are losing little time in both understanding the emerging role of digital labor and actively planning how best to integrate digital and human labor within their work force. Automating high-volume, repetitive, rules-based tasks using digital labor will free up employees to focus on work that’s more strategic and of higher value to the overall business. And with machines needing less supervision and oversight, management will also be free to increase its focus on business efficiency, performance and competitiveness—including customer service. “The key is to get people skilled so that they are digitally enabled to serve customers,” says Natasha Adams, chief
people officer at Tesco Plc., a British multinational grocery and general merchandise retailer. “People will always play a big part in retail.” HR leaders in the know are making sure their business leaders understand what lies ahead—and what the business will need to look like in the very near future to exploit the full potential of integrated work forces and the new division of labor. “HR leaders are in the unique position of being able to lead the business conversation on how the world of work is taking shape in the 21st century. But you cannot occupy that space with other business leaders without a deep comprehension of the technology involved,” says Susan Ferrier, Global Head of People for KPMG. She states that the positive business impact of digital transformation is magnified with a strong, digitally savvy and influential HR function. “As a senior HR leader, you need a loud voice, both internal and in the external world, to help design this future. You need to work hard to build a reputation that is founded in generating insight and positive business impact so that you can advocate a position and influence others. That’s hard to do if you are working behind the scenes and not always seen to be at the front line of business decision-making,” she adds. Ferrier notes that a lack of a strong new HR voice for the ages may explain the slight disconnect involving HR’s self-perception as a core value driver (40 percent) versus just 24 percent of CEOs viewing their work force/HR capabilities as highly effective. In today’s digital world with its myriad of complex people challenges, HR needs to be seen as a function that is taking the lead on understanding what makes people tick and what culture helps people and organizations thrive so that we create places of work that are a true augmentation of human capability with technology. The excerpt was taken from the KPMG article, entitled “The future of HR 2019: In the Know or in the No.” © 2019 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG network of independent memberfirms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved. Printed in the Philippines. For more information on KPMG in the Philippines, you may visit www.kpmg. com.ph.
Financial education to be part of govt workers’ training–CSC
CSC Chairman Alicia de la Rosa-Bala (center) and BSP Deputy Governor Maria Almasara Cyd Tuaño Amador (left) and BDO Foundation President Mario A. Deriquito pose after the signing of a memorandum of agreement between the Civil Service Commission with Bangko Sentral ng Pilipinas and Banco de Oro Foundation Inc. to integrate financial education in the learning and development programs of the CSC. BERNARD TESTA
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HE Civil Service Commission (CSC) said financial education will now be part of its learning and development program for government workers. This was announced by CSC Chairman Alicia de la Rosa-Bala during the memorandum of agreement (MOA) signing with the Bangko Sentral ng Pilipinas (BSP) and Banco de Oro Foundation Inc. (BDOF) on July 19. “Financial education is crucial in building the financial skills of our government workers,” Bala said. “As the premier HR [human resource] institution of the Philippine government, the CSC is concerned with employee welfare and benefits. It’s good that we now have financial education to complement those HR concerns.”
CSC’s partnership with the BSP and BDOF aims to integrate financial education in government training programs, initially within CSC’s own learning and development programs, and then in other government agencies. BSP will be pilot-testing its modules and tools for key CSC trainers to conduct financial education seminars and workshops for CSC and other government employees nationwide. Topics to be covered include financial planning, saving, budgeting, debt management, investments, financial scam prevention and consumer protection, to name a few. The BDOF, on the other hand, will contribute its expertise and resources for the project as part of its corporate social responsibility.
Monday, July 22, 2019
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DOF seeks higher taxes for e-cigarettes, alcohol By Rea Cu
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@ReaCuBM
HE Department of Finance (DOF) wants lawmakers to impose higher taxes on electronic cigarette (e-cigarettes) and alcoholic beverages. “The tax imposed [on e-cigarettes and alcoholic beverages] is too low,” Finance Secretary Carlos G. Dominguez III told business reporters over the weekend. “[The] target is to make it equivalent to cigarettes.” The 17th Congress has submitted Senate Bill (SB) 2233, which awaits the President’s signature and contains provisions on excise tax rates for these products. The measure seeks to increase
the excise tax on cigarette packs to P45 by January 1, 2020, from the current P35 per pack, with the tax rising by 5 percent annually beginning 2024. The rates for ecigarettes, specifically heated tobacco products, are lower at P10, which is also the same rate for vapor products with less than 10 milliliters (ml) of liquid nicotine content. Those containing higher liquid nicotine content are taxed higher than P10. Dominguez said the increase
in excise tax rates on e-cigarettes and related products would be one time only and not under tranches. “Yes, to the next congress. For vapes like Juul [Labs Inc.], we propose P45 per ml. For the typical 0.7-ml pod, it will be a discounted rate of P31.50,” he added. “The approved bill only has [a] P10 [rate]. For heated tobacco, we propose P45 per pack similar to regular packs. These rates are based on equivalency of volume or heated pack to regular pack of cigarettes.” Apart from proposing new rates on e-cigarettes and vape products, Dominguez said he also wants lawmakers to limit the availability of these devices, as well as the flavors used for these products. “We also propose limiting availability of e-cigarette and vape juice flavors to those that are similar to regular tobacco and regular menthol cigarettes,” he said. “There is strong evidence suggesting that many other fla-
vors tend to encourage initiation and heavy use among the youth.” Dominguez claims business groups expressed strong support for the Duterte administration’s legislative agenda for the 18th Congress, which starts sessions on July 22. This includes the remaining packages under the Comprehensive Tax Reform Program (CTRP), which focus on reforms in the corporate income tax (CIT) and fiscal incentive system, in property valuation and assessment, and in capital income and financial taxation; plus new excise taxes on alcohol, e-cigarettes and vapor (vaping) products. Other priority measures are the amendments to the Public Service Act, Foreign Investment Act and Retail Trade Act. The government’s Economic Development Cluster (EDC) had previously identified these bills as among their priorities during a forum last July 1.
3 years after signing of law, BOC orders registration of third party T HE Bureau of Customs now requires third parties who transact with the bureau on behalf of other entities to register with the BOC first. In a statement issued on Sunday, the BOC said it has issued Customs Administrative Order (CAO) 06-2019 in order to tighten the BOC’s watch on all those transacting with the bureau. “As part of its initiatives to address corruption and smuggling in the BOC, the bureau issued CAO 06-2019, if only to tighten its watch over all those authorized to deal with the bureau,” the BOC said. Customs Commissioner Rey L eon a rdo B. Guer rero a nd Finance Secretary Carlos G. Dominguez III issued the order three years after the signing into law of Republic Act 10863. The law requires all third parties who may be authorized to transact with the BOC on behalf of another person or entity to register with the bureau first.
These entities include private carriers, common carriers for transit cargoes freight forwarders, logistics providers, airline carriers, agents of shipping lines, and consolidators that are in importation and exportation. “Third parties who may be authorized to transact with the bureau on behalf of another person or entity in compliance with the CMTA [Customs Modernization and Tariff Act] shall be treated equally as legitimate importers or consignees,” the BOC added. Under the CAO, third parties are instructed to maintain and make available records of transaction performed on behalf of the importer or consignee and exporter, to report violations of customs law to the BOC, to cooperate during any investigation conducted by the bureau and to comply with its rules and regulations. Interested third parties who are members of an organization duly accredited by concerned
government agencies must also apply for registration with the bureau’s account management office (AMO) or its equivalent office and provide the appropriate documents such as Proof of Membership in good standing, Bureau of Internal Revenue (BIR) Certificate of Registration, Mayor’s Permit and other requirements, with an annual
registration fee of P1,000. Once application is approved, a Certificate of Registration will be issued by the BOC, which will be valid for one year from date of approval. CAO 06-2019 shall take effect 30 calendar days after its publication in the Official Gazette or a newspaper of national circulation. Rea Cu
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SUN LIFE AMBASSADORS REVEAL THEIR ‘LIFETIME PARTNERS’ THRU VIDEO CAMPAIGN
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IOLO Pascual, Inigo Pascual, Enchong Dee, Matteo Guidicelli and Charo Santos-Concio reveal who their lifetime partners are in a deeply personal campaign, which they cocreated with Sun Life Financial, dubbed “Kaakbay: Stories of Lifetime Partnerships.” At the center of the campaign is a set of videos showing how their lives were made brighter with the help of their respective lifetime partners who believed
in, supported and inspired them. “It was a very emotional experience developing my video with Sun Life,” Enchong confessed. “When I saw the finished product, I couldn’t help but cry.” Matteo had the same sentiment. “This is as real as it gets. The authenticity of emotions was clearly captured in the videos, and I look forward to sharing it with every one.” Meanwhile, Charo marveled at the experience of sharing her own story.
“Seeing an important part of my life immortalized through the video brought back so many memories that I share with my lifetime partner,” she said. “It was unnerving at first but, in the end, it was a beautiful way to pay tribute to someone who impacted my life in so many ways.” Through the stories of lifetime partnerships shared by Piolo, Inigo, Enchong, Matteo and Charo, Sun Life hopes to encourage Filipinos to find that partner who will help them shine to their full potential. “Their stories exemplify the kind of partner Sun Life aims to be for every Filipino pursuing his financial journey,” Sun Life chief marketing officer Mylene Lopa said. “We are committed to helping them make life brighter.” Lopa emphasized that all the brand ambassadors are long-time Sun Life clients, as well. “This brings truthfulness to their testimonies of having found a lifetime partner—a kaakbay—in Sun Life in their financial journey. We’re thankful that they supported our vision and permitted us to share their stories to Filipinos,” she said. Meanwhile, the soundtrack for the campaign, also titled “Kaakbay”, which was written and performed by Iñigo himself, will soon be hitting airwaves nationwide, while its music video will be shown on Myx.
REDDOORZ, THE HOTEL FOR TRAVELERS ON THE GO From the busy streets of Metro Manila, Cebu and Pampanga to bustling tourist spots, like Tagaytay and Davao, RedDoorz has truly established its presence in the Philippines. With its 150+ affordable accommodations in over 10 cities in the Philippines, the technology-driven company sends out a message for travelers who are always on the go; that there is a best quality affordable hotel for you at practically any time of the year, which lets you save to experience a bigger adventure out there.
‘ART-IC HUENIVERSE’ AT SM CITY BALIWAG Kids are all smiles beside polar bears reimagined in “ART-ic HUEniverse”, a colorful art installation by young and talented artists from Guhit Pinas Bulacan Chapter at SM City Baliwag. A joint project of SM’s North Luzon Malls, the World Wildlife Fund and Boysen, the event hopes to create awareness of the plight of animals in the arctic, especially polar bears, due to climate change. The exhibit will also be mounted at SM City Marilao, SM Center Sangandaan, SM City Valenzuela and SM Center Pulilan.
97.9 HOME RADIO, DINE ASIA PRESENTS ‘DINE MANILA’
This segment is for listeners aged 18 and above who are at home, in the office and on the road. The perfect guide for you while you think of where to eat and what to eat! This segment will surely satisfy your tastebuds, and gives you options that are within your reach and budget! The segment runs five times a day, highlighting five different restaurants and specialty dishes every Monday to Friday. Backed up with information on the restaurant’s contact information, location and store hours, these are the restaurants you should not miss out on.
THE BAMBOO AND 21ST-CENTURY PROJECT MANAGER
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HE bamboo and its capacity to bend with the howling wind without breaking is quite possibly the best metaphor for what it would take to thrive in today’s Vuca world. Angela Duckworth refers to such capacity as grit. Dr. Paul Stoltz, on the other hand, introduced the concept
of adversity quotient to measure the latter. Interestingly, both researchers agree that grit and AQ could be learned. Such complements and reinforces the theme of the 2019 National Symposium on Project Management, dubbed “PMI @50: Building People, Developing Practice, Enabling Progress.” At the symposium, over a dozen world-renowned project management speakers and practitioners will be sharing their insights and best practices to enhance the capacity of project managers to be as agile and as resilient as the bamboo. The 2019 Symposium is extra special as PMI celebrates its 50th anniversary. All project managers across various industries, whether PMP-certified or not, will definitely take away countless ideas and numerous best practices from the featured speakers. Reserve your seat via http://bit. ly/2019PMIPHSymposium.
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a right hook that sent Thurman to the canvas with 25 seconds left in the first round. Thurman got up comfortably while the ecstatic crowd roared, but Pacquiao kept up his superior work for the next two rounds, repeatedly rocking Thurman with a variety of shots. Even when Thurman put together a solid fifth round, he was stunned several times in the final minute and left with blood on his face. But Thurman gathered himself and soundly beat Pacquiao through the middle rounds, forcing Pacquiao to show off his durable chin. Pacquiao reversed the momentum in the 10th with a series of big shots, including a punch to the body that sent Thurman stumbling away in obvious pain. Both fighters pushed to the final bell and embraced. Pacquiao won the final round on two judges’ cards, while Feldman’s 12th-round score for Thurman kept Pacquiao from winning by unanimous decision. After graciously congratulating Pacquiao, Thurman called for a rematch. The pro-Pacquiao Vegas crowd vocally approved. Nearly 25 years after a 16-year-old Pacquiao stepped onto the scales for his pro debut with rocks in his pockets just to make the 105-pound minimum weight, this middle-aged politician showed he could have several years left in a day job that paid him a guaranteed $10 million on Saturday night. Thurman had been eager to retire Pacquiao, but he even couldn’t hurt the ageless wonder. Thurman has held a version of the World Boxing Association 147-pound title for six years, but he had fought just once since March 2017, when he edged Danny Garcia to earn two welterweight belts. He sat out the next 22 months with injuries, and he looked
rusty and tentative at times in his comeback victory over Josesito Lopez last January. But Thurman embraced his guaranteed $2.5 million payday and the chance to take on an active legend. He also pumped up the promotion with a series of bold statements about Pacquiao’s age, ability and motivation. Thurman even managed to irk the normally placid Pacquiao, who acknowledged that even his mother hadn’t liked Thurman’s trash talk. Before the bout, Floyd Mayweather got into the ring to wish both fighters good luck. The retired
superstar watched intently from the crowd in the same arena where he beat an injured Pacquiao four years ago. Pacquiao’s trainer, Freddie Roach, has said he hopes Mayweather will come out of retirement for a rematch with Pacquiao. On the undercard, Cuban welterweight Yordenis Ugás battered previously unbeaten Omar Figueroa Jr. for a decision victory featuring three identical 119-107 scorecards. Caleb Plant also defended his IBF super middleweight title with a dominant third-round stoppage of previously unbeaten Mike Lee.
onday, July 22, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
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Keith Thurman represented another major step up in competition, but Manny Pacquiao’s strong start quieted any speculation that he would suddenly look old in a matchup with an elite welterweight champion.
MANNY PACQUIAO Sports BusinessMirror
KING OF BOXING!
AS VEGAS—From his first-round knockdown punches to his tenacious 12th-round finish, Manny Pacquiao gave yet another one-sided thrashing to Father Time. Keith Thurman was a whole lot tougher to beat, but the 40-year-old Filipino senator managed to win that vote, as well. Pacquiao floored Thurman early and persevered late to an exciting split-decision victory Saturday night, adding a third straight win to his late-career resurgence. Pacquiao (62-7-2) dropped his previously unbeaten opponent with a combination late in the first round, and the Pacman dominated the opening rounds with a combination of flair and power that recalled the incredible prime of the only eight-division champion in boxing history. Thurman (29-1) showed remarkable tenacity in rallying through the middle rounds, repeatedly testing Pacquiao’s chin with big shots. Neither fighter managed another knockdown, but they pushed relentlessly in front of a sellout crowd at the MGM Grand Garden that repeatedly chanted Pacquiao’s name from the moment he reached the ring. “It was fun,” Pacquiao said. “My opponent is a good fighter and boxer. He was strong.... I think he did his best, and I did my best. I think we made the fans happy tonight because it was a good fight.” Two judges scored the bout 115-112 for Pacquiao, while Glenn Feldman scored it 114-113 for Thurman. The Associated Press also scored it 115-112 for Pacquiao. “I knew it was close,” Thurman said. “He had the momentum because he got the knockdown in Round 1.... I wish I had a little bit more output to go toe to toe. My conditioning, my output was just behind Manny Pacquiao’s tonight. Tonight was a blessing and a lesson.” Pacquiao appeared to be declining as recently as two years ago, when he lost a listless decision to Jeff Horn. But while his political career flourished, Pacquiao also revived his ring career with solid back-to-back victories over Lucas Matthysse and Adrien Broner. Thurman represented another major step up in competition, but Pacquiao’s strong start quieted any speculation that he would suddenly look old in a matchup with an elite welterweight champion. Thurman’s effort was impressive on paper: He landed slightly more punches than the famously active Pacquiao, and his 192 power punches landed were the most by any Pacquiao opponent in his 43 fights that were tracked by CompuBox. But Pacquiao had a dominant jab, and he outworked Thurman in the 12th round, throwing 56 punches to win the round on two judges’ cards. Both fighters started quickly with a series of goodlooking exchanges, but Pacquiao changed the bout in an instant. He moved forward to land a left to the body and
The Associated Press
By Greg Beacham
MANNY PACQUIAO floors Keith Thurman in the first round, bloodies the American in fifth, gets his arm raised by referee Kenny Bayless and takes a championship selfie with wife Jinky. PHOTOS BY AP AND WENDELL ALINEA
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Business
Monday, July 22, 2019
Ledecky, Sun easily advance at world swim meet G WANGJU, South Korea—After an unexpected assist from her coach, Katie Ledecky opened the world championships with a dominating performance in the preliminaries of the 400-meter freestyle on Sunday. The 22-year-old American led the qualifying in a time of four minutes and 1.84 seconds—0.58 seconds faster than the secondquickest qualifier, Ariarne Titmus of Australia. “That’s right where I wanted to be,” said Ledecky, who set the world record of 3:56.46 at the Rio de Janeiro Olympics three years ago. Ledecky heads into the evening final as the favorite to win a record fourth consecutive world title in the event. “It’s going to be a great race,” she said. There was a brief delay before the last heat that included Ledecky and teammate Leah Smith, who qualified fifth. The swimmers stepped away from the blocks and sat down in chairs waiting. The cap of a Canadian swimmer in the previous heat had come off and was floating in the pool. Ledecky said her coach Greg Meehan retrieved it, allowing the heat to go off. Ledecky plans to swim four individual events and likely relays during the eight-day competition at Nambu University Municipal Aquatic Center. China’s Sun Yang led the men’s 400 free prelims in 3:44.10—0.21 seconds ahead of Danas Rapsys of Lithuania—in pursuit of his fourth straight world title in the event.
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ORTRUSH, Northern Ireland— The noise was unlike anything Shane Lowry had ever heard on a golf course, no surprise at the first British Open in these parts in 68 years, and an Irishman atop the leaderboard at Royal Portrush. Lowry didn’t get rattled on Saturday. He only got better. Two straight birdies around the turn to take the lead. Three straight birdies near the end to pull away. An eight-under 63 for his lowest round in a major. A stunning back nine that gave him the 54-hole record in the British Open. A four-shot lead going into the final round. Walking off the 17th tee, Lowry turned to his caddie and said, “We might never have a day like this on the golf course again, so let’s enjoy this.” “Honestly, that’s the most incredible day I’ve ever had on the golf course,” Lowry said. “I just can’t believe what it was like.” It can get a lot better, starting with his name etched on the base of that silver claret jug. Lowry wasn’t willing to look that far ahead, not with a forecast so dire the R&A moved up the starting times Sunday in an effort to avoid the worst of the heavy rain and 35 mph gusts in the forecast. “There’s no point in saying to go out and enjoy myself tomorrow because it’s going to be a very stressful and very difficult day,” Lowry said. “I’m going to take the bad shots on the chin and I’m going to take the good shots and try to capitalize on that. I’m just going to be myself and play my game and see where it leaves me.” He took a big step with a 30 on the back nine to break away from the pack for a fourshot lead over Tommy Fleetwood, who had a bogey-free 66 and still lost ground. JB Holmes, who shared the 36-hole lead with Lowry, couldn’t keep up. No one could. Holmes had two straight bogeys on the back nine, didn’t make as many putts as the opening two rounds, but otherwise was solid for a 69. “It wasn’t like it was terrible,” Holmes said.
TRIATHLON WORLDS Athletes take part in the swimming portion of the International Triathlon Union World Triathlon Series on Saturday in Edmonton, Alberta. AP
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Sisi Rondina was able to ‘heal’ herself through prayers, support from her family and by minimizing her worries.
“But when you’re playing with a guy making everything, it feels like you shot a million.” The return of golf’s oldest championship to Northern Ireland no longer had favorite son Rory McIlroy. Lowry filled the void just fine. He was teammates with McIlroy for Irish golf when they won the European Amateur Championship in 2007. Lowry didn’t mind when all the attention was showered on the trio of Ulstermen— McIlroy, Graeme McDowell and Darren Clarke—as Northern Ireland embraced such a special week. “The guys are from here. I grew up four hours away,” Lowry said. “I felt like I could come here and come under the radar. I’m not quite under the radar anymore. I didn’t feel like a forgotten Irishman. But hopefully, I’m the one they’re talking about tomorrow evening.” Lowry was at 16-under 197, breaking by one the 54-hole record set by Tom Lehman in 1996 at Royal Lytham and Saint Annes. Sunday’s weather had everyone talking at the end of the day. There’s also the chance of an
SHANE LOWRY: Honestly, that’s the most incredible day I’ve ever had on the golf course. AP
internal storm brewing in Lowry. He chuckled when he looked up at the scoreboard on the 18th green to see his lead at four shots, knowing Oakmont would be brought up. Lowry also had a four-shot lead going into the final round of the 2016 US Open. He closed with a 76 as Dustin Johnson rallied for his only major. The pressure figures to be even greater this time around as he goes for a silver jug on the Emerald Isle. Lowry says he learned from that day, how to hang in until the very end. He has matured. He has a family. And he wants to embrace the moment because “who knows when I’ll be in this position again? It’s taken me three years to get back here.” Fleetwood had his share of support, hugely popular for his long hair flowing out of his cap and his easy nature. He was at 12-under 201, has made only two bogeys through 54 holes and still has to make up a four-shot deficit. “You have to look at it realistically,” he said. “I had a great day today. I had one of the best rounds of the day and I was bogey-free. Shane just played great and I’m four back. But that’s it. I’m just happy with how I played.” Still on the fringe of contention was Brooks Koepka, a familiar face in the majors. The Professional Golfers’ Association champion—a winner in three of the last six majors—he couldn’t get enough putts to fall and still managed a 67. He was seven shots behind, along with Justin Rose (68). AP
which generated the most curiosity for what she would add to her top-flight exercise routine. Biles delivered, unleashing a highspeed punch layout front onto her second flip on her signature move known as “The Biles,” a double layout with a half turn. Momentum from the high-energy move sent her out of bounds, though it didn’t hurt her score in that segment or overall. “I definitely wanted to stay in bounds for one routine,” said Biles, who smiled at the mistake before getting back at it. “But it’s more to work on. I overpowered it a little bit, but I’m kind of happy with it. I’d rather go over than under. “At least I didn’t fly completely off of the floor.” Biles also was third on the balance beam in the first of just two US appearances this year; the second is next month at the US Nationals in Kansas City, Missouri. Her intense approach to the floor
exercise and elsewhere pleased co-coach Laurent Landi and has him confident Biles can grow even more. “We tried it, and hopefully we can try something else at the nationals,” Landi said. “It’s mainly for me to see what she can do, to see if it’s something we can pushing or something to get away from. It was good.” McCusker, one of Biles’s teammates on the gold-medal winning US squad at the world championships, was just as happy with her second-place finish that began with her finishing second on the beam to Kara Eaker. “I didn’t come in expecting anything, just to take it one skill at a time. It was great to start off and hit a beam routine, because that’s always a nerve-wracking event to start on, so I was glad I did what I did every day in the gym.” Morgan Hurd, who won the 2017 world championship while Biles took off, won the parallel bars over Sunisa Lee with McCusker
and McCallum tied for third. McCallum was pleased on many levels, coming in second to Biles on the floor exercise and improving from seventh at last year’s Classic to her best finish at the event. “I’m really proud of myself,” McCallum said. “I’ve only been doing a full floor routine for a couple of weeks, so it was really nice to make it.” After the meet, McCusker, Hurd and Eaker were among six named to the US Team that will compete in the Pan American Games starting Wednesday in Lima, Peru. Also selected were Aleah Finnegan and Leanne Wong, with Shilese Jones as the non-traveling alternate. The selections are pending approval by the US Olympic and Paralympic Committee. AP
GRACE MCCALLUM performs her routine on the balance beam. AP
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LOWRY BUILDS 4-SHOT LEAD AT BRITISH OPEN
Biles captures gold medal at US Classic gymnastics OUISVILLE, Kentucky—Simone Biles had a lot to feel good about, even with some rare missteps that were quickly forgotten in her latest climb atop another podium. What mattered most to the world’s top gymnast was keeping things moving forward, which Biles did. Biles won the US Classic on Saturday night to maintain her six-year winning streak. The four-time Olympic gold medalist and reigning world champion had an all-around score of 60.000, 2.100 points ahead of runner-up Riley McCusker. Grace McCallum was third at 57.700. Biles won her 19th consecutive allaround title beginning with the 2013 US Championships. She surged from fifth following the first rotation on the uneven bars into first on the next. She had the highest score in the vault (15.650), though Jade Carey won the event with a two-vault average score of 14.800. Biles left no doubt in the floor exercise,
Sun’s presence has drawn the ire of some swimmers, including rival Mack Horton of Australia. Sun is facing alleged doping rule violations that risk a ban from the 2020 Tokyo Olympics, and he has requested a public trial at the Court of Arbitration for Sport in September to defend himself. The World Anti-Doping Agency is challenging a decision by Fina, swimming’s world governing body, merely to warn him over incidents during a doping control team’s attempts to take blood and urine samples at his home in China last September, while allowing him to continue competing. Horton advanced to the final with the fifthfastest time after not qualifying at the Australian trials and joining the team as a discretionary pick. “Trials probably wasn’t a strong reflection of how I’ve been training,” Horton said. Gabriele Detti of Italy qualified fourth. “He is the best and I try to beat him,” he said of Sun’s presence. American Caeleb Dressel, who tied Michael Phelps’s record of seven golds at a single worlds in 2017, tied with Andriy Govorov of Ukraine as the fastest qualifiers in the 50 butterfly. They each touched in 22.84 seconds. World record holder Adam Peaty cruised into the semifinals of the 100 breaststroke in 57.59. He was 1.28 seconds ahead of second-quickest qualifier Ilya Shymanovich of Belarus. In the women’s 200 individual medley, Katinka Hosszu of Hungary cruised into the finals with the fastest time of 2:07.02. She was 2.43 seconds ahead of China’s Ye Shiwen, second-quickest overall. AP
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SURFERS TES
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CHINOMIYA, Japan—As one of the new sports added to the program for 2020 Tokyo Olympics, surfing is arguably the most glamorous and is sure to bring a new dimension as the International Olympic Committee (IOC) seeks a younger audience. The big question for Tokyo will be the quality of the waves. While Japan has a surfing culture that began over 100 years ago, the country isn’t known for the type of mammoth waves that can be found at surfing hotbeds like the North Shore of Hawaii or Big Sur in California. Japanese surfers got a chance to check out the waves in a four-day test event that concluded on Sunday at Tsurigasaki beach where the surfing event will be held. On the east shore of neighboring Chiba prefecture, Tsurigasaki is about a two-hour train ride from the center of Tokyo. Through the final day of the competition on Sunday, most of the feedback was positive, although some surfers said the waves weren’t big enough. “There’s an idea that the waves aren’t sufficient but they were probably 3 to 4 feet, which is absolutely good contestable conditions for a solid competition,” said Robert Fasulo, executive director of the International Surfing Association. “I think the novelty and uniqueness of what we are bringing is going to create a lot of interest.” One of the most popular surfing spots in Japan, Tsurigasaki was selected because it has more consistent waves than other locations near Tokyo. “I think this beach was chosen for its consistent waves,” said Japanese surfer Hiroto Ohhara. “The waves today were a bit small. I plan to surf a lot and gain as much experience as I can, since I know this beach I
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RONDINA SPIKES ANXIETY ATTACKS By Samuel P. Medenilla
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NXIETY attacks from fatigue and constantly being left alone in a dormitory, here she had occasion to brood, were mething that Sisi Rondina, former ptain of the University of Santo Tomas ST) Golden Tigress women’s volleyball am, had to live with for some time. In a session on youth concerns organized by Manila Archbishop Cardinal Luis Antonio Tagle on Friday, Rondina and several other celebrities shared their experiences and proved that people like them are not immune from bouts of selfdoubt and anxious moments. Tagle cautioned against “unrealistic” standards, which could drive people to become “mentally disturbed.”
“Sometimes people say [that] to be [considered] mentally healthy, that you don’t experience loneliness, frustration,” Tagle said, adding that this perception is wrong, and if it’s encouraged, “the more you become mentally disturbed.” Tagle led a “Heart to Heart” dialogue with the youth and youth advocates during the first day of the sixth Philippine Conference on New Evangelization (PCNE6). The prelate stressed that such belief—that mentally healthy people should not feel down—is wrong, stressing it is normal for people to sometimes feel loneliness and hopelessness. “There are days you don’t feel okay, but that doesn’t mean you are mentally unstable,” Tagle said. “As long as you can handle it, and you don’t lose hope, then you are mentally healthy,” he added.
MENTAL-HEALTH CRISIS
MENTAL health emerged as the top issue of concern among the youth based on the dialog presided by Tagle. Besides Rondina, among the participants of the event were Atty. Anna Tarhata Basman, member of the Parliament of the Bangsamoro Transition Authority; celebrities Robi Domingo and Rhys Eugenio; Austin Quick, Catholic Connect president; and Bro. Bo Sanchez, founder of The Light of Jesus Community and The Feast. During the dialogue, Rondina shared how she personally suffered an anxiety attack due to fatigue
SISI RONDINA leads celebrities in sharing “bad times” in dialog with Manila Archbishop Cardinal Luis Antonio Tagle.
and while often being left alone in the dorm. She said she was able to “heal” herself through prayers, support from her family and by minimizing her worries. Domingo and Eugenio said even celebrities tend to suffer from loneliness, but are forced to hide it from the public as part of their job. Eugenio said he deals with this by making others feel they are not left out, while Domingo’s way of coping is by having someone to talk to. For her part, Basman took note how the country’s response to mental health is still not as established as that of other developed countries, making it a challenge that needed to be addressed. She said this contributes to how mental-health issues are trivialized.
HOLISTIC APPROACH
FORTUNATELY, she said, this is somehow offset by the Filipino’s being family-oriented and religious, which provides mental relief. She urged those who consistently suffer depression to seek professional help. Sanchez said a possible solution to some mental concerns is to base their identities not on physical looks or the perception of others. “If you can base you identity, your fulfillment on something that is eternal: that you are loved by God. Then you can fail and lose everything, but your identity will remain,” Sanchez said. His position was echoed by Quick, who also advocated being “rooted in Christ.” “There is nothing in my world that can happen, because my foundation is solid in Jesus Christ,” Quick said.
RICK OLIVARES bleachersbrew@gmail.com
BLEACHERS’ BREW
Enter the HOF, Sandman PRADERA CHAMP Taiwanese amateur Yu-Chiang Hou (from left) holds her trophy
as she poses with Ladies Professional Golfers Association of Taiwan Chairman Mei-Chi Cheng and Pradera Verde Golf and Country Club course designer and General Manager Mike Singgaran after edging Thai pro Wanchana Poruangrong on the second playoff hole to snare the International Container Terminal Services Inc. Ladies Pradera Ladies Classic in Lubao, Pampanga, Friday.
OBIENA KEEPS SOARING HIGH E
RNEST JOHN OBIENA is on a streak in his European tour after clinching another pole vault gold medal at the 2019 Jump and Fly Baxter Meeting in Mossingen, Germany, on Sunday. Obiena cleared 5.63 meters to easily beat German bet Gordon Porsch (5.51m) and Mexican Jorge Luna (5.35m). The 23-year-old Obiena wrapped the gold medal in his second attempt. He wanted to raise the bar and set a new personal record of 5.80m but failed in all three attempts Obiena will next compete in a pocket tournament in Leverkusen, Germany, on Wednesday as he primes himself for the 30th Southeast Asian Games that the Philippines
is hosting from November 30 to December 11. The Filipino’s resurgence started with a record-setting performance in the 2019 World Universiade Games in Napoli, Italy. Obiena leapt 5.76m at the University Games to eclipse his previous national record of 5.71m he set in the Asian Athletics Championships last April. He cleared 5.55m to top the Citta Padova Atletica Mondiale in Padua, Italy, on July 16. He will also compete in the International Alliance of Athletics Federations Diamond League in Zurich, Switzerland, and Brussels, Belgium, next month. Topping his pre-SEA Games stint will be the World Championships in Doha, Qatar, in September. Ramon Rafael Bonilla
ST WAVES FOR TOKYO 2020 hope to be able to use it my advantage during the Olympics if I qualify.” Fasulo said they expect a maximum 4,000 spectators during the Olympic competition. The surrounding community does not boast a lot of infrastructure so many spectators will be looking at a long commute. “It’s a little far, there is no question about that,” Fasulo said “But that’s the nature of our sport. The people who know and love our sport are willing to travel a little bit farther because the destinations require that.” The competition will be held over four days but organizers have given the surfing event a window of eight days if the weather doesn’t cooperate. Surfing’s push to be included in the Olympics has a long history but got a big boost in 2014 when the IOC realized the need to add more youthful, vibrant sports to the Olympic program. A total of 26 sports applied for inclusion in the 2020 Games and in August of 2016, four new sports, including surfing, were added. The other new sports are karate, skateboarding and sport climbing. The combined events of baseball and softball are returning after being dropped after Beijing in 2008. The IOC has also approved the inclusion of surfing on the program for the 2024 Olympics in Paris. Surfing in Japan dates back over 100 years. As detailed by Legendary Surfers, most Japanese-style wooden boats at the time had removable floor boards that were called Itago. When the boats were beached after fishing, the children of the fishermen took the Itago out of the boats and used them as body boards. This practice was commonly known as Itago-nori, meaning
“Floor board riding.” During the occupation after World War II, American soldiers began surfing fiberglass longboards at Kamakura, Karatsu and beaches around the military bases. The sport boomed in the 1960s and Japan held its first surfing competition in 1966. It is estimated that there are now over 2 million surfers in Japan. A total of 20 men and 20 women will qualify for Tokyo with a maximum of two athletes per gender per country. The four-man heat method will be used. Four athletes will compete at a time, with the best two proceeding to the next round. The length of a heat depends on the condition of the waves and lasts 20 to 25 minutes. In that time, an athlete can ride 10 to 12 waves, with their two highest scores counting. The United States, Australia and Brazil are expected to be the favorites in Tokyo. Japan, meanwhile, is hoping to get a boost from Kanoa Igarashi. Born in Huntington Beach, California, the 21-year-old Igarashi recently received dual citizenship in order to compete for his ancestral homeland in 2020. He has become one of the top surfers in the World Surf League and will be a medal contender next year. In May, Igarashi became the first Japanese surfer to win an elite Championship Tour event when he topped the men’s competition at the Corona Bali Protected. As host, Japan will get one automatic berth in each of the 20-surfer draws and will have a chance to earn another. “He’s very talented, I think he could become a face of the games,” Fasulo said. AP THE big question for Tokyo will be the quality of the waves. AP
ROAD NATIONALS DRY RUN FOR SEAG
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HE PhilCycling 2019 National Road Championships set on Tuesday and Wednesday in Tagaytay City serves as a dry run for the conduct of the cycling competitions of the 30th Southeast Asian Games. PhilCycling President Abraham Tolentino said the road race routes, as well as those in the individual and team time trials (ITT and TTT) are virtually the same course for the SEA Games that Tagaytay City is also hosting from November 30 to December 11. “The national championships will be a virtual operation of the 30th SEA Games,” said Tolentino of the event presented by Standard Insurance, MVP Sports Foundation and Tagaytay City with Ube Media Inc.-Le Tour de Filipinas handling the
race management. The cream of the crop of Philippine road cycling in the Men and Women Elite and Junior categories are vying in the two-day race also supported by One LGC, Air21, Go For Gold, Bike X Singapore and 7-Eleven Cliqq Air21 by Roadbike Philippines. Also backing the races are the Philippine National Police, Batangas province and the municipalities of Nasugbu, Tuy, Lemery, Agoncillo, Balayan, Lian, Talisay, Calaca and Laurel. The Men Elite and Under-23 ITT will cover 18 kms and the Road Race 132.08 kms, the Women Elite and Men Junior ITT will be 12 kms and the Road Race will be 91.35 kms, while the Men Elite TTT will be 40 kms. A total of 119 riders registered for the Men
Elite and Under-23 Road Race (Massed Start), while the Men Elite and Under-23 ITT lured 68 riders and the Men Junior attracted 43 aspirants in the race that is calendared in the International Cycling Union or UCI. The Women Elite Road Race drew 12 riders and all 12 are also vying in the ITT. The PhilCycling will also recognize the country’s cycling stakeholders—Alberto Lina (Air21-Le Tour de Filipinas), Ernesto “Judes” Echauz (Standard Insurance), Tagaytay City Mayor Agnes Tolentino, Jose Victor “Vic” Paterno (7-Eleven), Fernando “Dino” Araneta (LBC Ronda Pilipinas), Pablito “Bong” Sual (Roadbike Philippines), Jeremy Randell Go (Go For Gold), Paquito Rivas and Singaporean Vincent Leow (Bike X).
FAJARDO AT HIS BEST
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EEDING a late push to salvage a playoffs berth in the Philippine Basketball Association (PBA) Commissioner’s Cup, June Mar Fajardo came and delivered the goods for the San Miguel Beermen. The five-time Most Valuable Player submitted big numbers in the Beermen’s backto-back wins for the period July 8 to 14 that assured the team of a berth in the eight-team quarterfinals. Fajardo averaged 22.5 points and 14.5 rebounds as San Miguel beat Phoenix (128-108) and Rain or Shine (89-87) one after the other. The dominant performance had the big man Cebuano native running away with the PBA Press Corps-Cignal Player of the Week honors. Fajardo got a total of nine votes in besting out the other candidates that include rookies Robert Bolick (NorthPort) and Bobby Ray Parks (Blackwater), Japeth Aguilar, Stanley Pringle, and Scottie Thompson (Barangay Ginebra), and Kenneth Ighalo (NLEX). None of the six players however, received a single vote. The 29-year-old San Miguel stalwart imposed himself inside for 22 points and 14 rebounds as the Beermen whipped the Fuel Masters on July 10.
MAKATI Football Club boys (in blue kits) in action against Gothia Cup showdown against IF Brommapojkarna.
Makati ballers stamp mark in Gothia Cup
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AKATI Football Club (FC) has gained respect playing against the best youth clubs in the world in the recent Gothia Cup in Gothenburg, Sweden. Among the five Makati FC teams, the Boys 13 delivered the best performance by reaching the knockout stages after hurdling three hard-fought matches in the quarterfinals. Makati FC defeated Walddorfer SV, 5-1; Lillestrom SK, 3-0; and Ukraine FC Pidshypnyk, 5-2; before ending its campaign with a 0-3 defeat to No. 1 seed IF Brommapojkarna 1, 0-3, in the battle for a spot in the semifinals. SeLu Lozano, Makati FC’s chief executive officer, was satisfied with the way the young Filipino players performed against the world’s best in its 37th consecutive Gothia Cup stint. “Every year we compete in the Gothia Cup, we
see the progress and we get to see what else we lack in terms of our program,” Lozano said. “With the talent we have now, and the current resources the club has, we are able to maximize what we have and we are able to find competition outside the Philippines to improve our players and give them the best opportunity to get good competitions in order to make them better.” Makati FC, the only Philippine club seeing action in the Gothia Cup, also fielded teams in the Boys 11, 12 and 14, and Girls 14. The Boys 12 and 14 squads also qualified for the knockout rounds. The weeklong competition featured 1,700 teams from 80 countries. Makati FC hopes to bring the momentum from the Gothia Cup in Malaysia for the Borneo Cup from October 1 to 3, Singapore Cup from November 3 to 7 and Bangkok Cup from November 29 to December 1.
NEW York Yankees pitched Mariano Rivera was inducted into the Baseball Hall of Fame; a unanimous selection, last Sunday, July 21, 2019. The Panamanian pitcher truly deserves it. He notched 652 saves; 51 more than second placer Trevor Hoffman. It was in the postseason where he was the most valuable. In his 18 years pitching for the Yankees, he finished with an 8-1 record with a 0.70 earned run average and 42 saves in 96 appearances. He helped New York win five Major League Baseball World Series titles. As a lifelong Yankees fan, it feels good that one of my favorite players is going to the Hall of Fame (along with Mike Mussina in this class of inductees). The other inductees included Roy Halladay, Edgar Martinez, Harold Baines and Lee Smith. I got to see all the other players—against the Yankees—and all at the old Yankee Stadium. I only have four Yankees jerseys with names on them—Paul O’Neill, Derek Jeter, Aaron Judge and Rivera. Mariano is the only pitcher in that lot. I must have watched about a hundred live games of the Yankees and I still have every ticket that I purchased to Yankee Stadium. I consider myself lucky that I got to see all my favorites— O’Neill, Bernie Williams, DJ, A-Rod, Andy Pettitte, Jason Giambi and Mo. Watching him pitch in really tense situations, displaying that unnatural calm, and his expression hardly betraying any emotion is incredible. Win or lose, he was a stoic on that mound. The one time I saw him show any emotion was when he was “taken out” of the game by his teammates Derek Jeter and Andy Pettitte in his final game. That was emotional and Mo cried on Pettitte’s shoulders. Hell, I am a grown man and I cried, too. For many Yankees fan, watching him trot out of the Bullpen to Metallica’s classic song, “Enter Sandman,” is one of the game’s best sights. Once, I got to shake Mo’s hand near the player’s entrance. I waited by that entrance quite a few times and there was no guarantee any player would come over to shake your hand. Mo did that one time and he didn’t just shake my hand, he even chatted for about a minute. I was in shock and really didn’t know what to say. I was so stunned that I forgot to even ask for a picture or autograph! What a dunce! Him spending close to a minute is an awful long time. Other fans immediately came over. While Mo gave them time, he didn’t just move on and forget me. He made sure to politely say that he was going to say hi to the others, as well. I have not met another sportsman/celebrity who has done or said anything within that zip code. That definitely left a good impression on me. I guess, it was the way that team of Yankees under Joe Torre carried themselves that left a good impression on many. While all the players were fiercely competitive, they all conducted themselves in a professional manner. One time, while working at Burger Heaven on East 96th and Lexington, I got to see lunch for Jason Giambi and then pitcher Tanyon Sturtze. There was a no autograph policy at the restaurant, but the two graciously signed autographs for me and another waiter from Bangladesh named Imon, who was a die-hard Yankees fan. There’s a risk they can be testy as they are on an off-day. I, myself, witness a famous actor blow off a young fan who asked for his autograph while he was eating. I was nervous that should Giambi and Sturtze be upset, Imon and I could get fired. But no. They were cool and they even chatted for a few seconds. Sitting up in the upper tier boxes of Yankees Stadium, it is so easy to get caught up in all the emotions of a baseball game. The fans are vociferous in their support or loud in their opinions. Watching Mo, I kept to myself. In fact, I still remain calm ever during games today no matter how intense. One time during the Philippines-Korea match of the 2013 Fiba Asia Championships, as the crowd at the MOA Arena was going wild, a colleague of mine asked me how on Earth could I remain so calm, not cheering, and well, looking very much composed. I said, one, were journalists. We have to stay neutral. And then I said, “because of Mariano Rivera.” My colleague got it. He might be a massive basketball fan who doesn’t really watch baseball. But even he knew who Mariano Rivera was and what he stood for. Congratulations on entering baseball’s Hall of Fame, Mariano. You deserve it.
THOMAS’S WOES WORSENS Sports BusinessMirror
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| Monday, July 22, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
PHOTOGRAPHERS always capture the best of the Tour de France with Thibaut Pinot winning Stage 14, putting him back in the picture to fight for the podium after he loses mountains of time on Stage 10 and Geraint Thomas struggling to defend his crown. AP
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A MONGIE, France—When the team of Geraint Thomas was in its pomp at the Tour de France, a time trial followed by a big mountain stage would have been playgrounds for Sky—now in new colors as Ineos—to take cycling’s greatest race by the scruff of the neck and leave everyone else fighting for second place. Not this year. Thomas, the defending champion, cracked on Saturday on the Tour’s first encounter with a climb to above 2,000 meters, exposing unprecedented weaknesses in his team that has won six Tours in the past seven years. The time trial on Friday and the climb up to the legendary Tourmalet pass on Saturday seemed primed for Thomas to reel in Julian Alaphilippe, the yellow jersey-wearer from France who is setting the Tour alight with his punchy riding and determination to keep the race lead, filling French fans’ heads with dreams of a first homegrown winner since 1985. But instead, Thomas has seen Alaphilippe only get further and further away. In two days, with a win in the time trial and a strong second-place on the Tourmalet, the Frenchman has put 50 seconds of extra daylight between him and the Welshman. His lead—up to two minutes and two seconds—is becoming large enough to start realistically envisioning Alaphilippe in yellow in Paris next weekend as the first French winner since Bernard Hinault. Further fueling the ecstatic crowds that lined Saturday’s steep uphill finish, French rider Thibaut Pinot won Stage 14, putting him back in the picture to fight for
the podium after he lost mountains of time on Stage 10. Thomas rightly pointed out that the Tour is far from done, with six more ascents to above 2,000 meters still to come. But his inability to stay with Pinot, Alaphilippe and other podium contenders at the top of the Tourmalet— he was eighth, 36 seconds behind Pinot—was a miniearthquake for the Tour dominated by his British team since 2012—with champions Bradley Wiggins, Chris Froome and, in 2018, Thomas. “Not the best day. I just didn’t feel quite on it from the start. I was quite weak,” Thomas said. “At the end I knew I just had to pace it. I didn’t really attempt to follow when they kicked. I just thought I should ride my own pace rather than follow them and blow up on the steepest bit at the end. It’s disappointing. I just tried to limit the damage.” Having taken cycling to a new level since 2012 with its vast budget and attention to the minutest of details, the team run by David Brailsford has been hit both by misfortune and by the inevitability that, eventually, other teams would start to close the gap. Strikingly, Thomas and his teammates didn’t ride at the front of the pack up the Tourmalet, unlike previous years when their infernal pace uphill left others gasping and unable to attack as Pinot did this time. “There are many very strong teams, including mine,” Pinot said. “The level is really high.” A horror crash in training for four-time winner Froome, now recovering from career-threatening broken bones, robbed the team of its ace. Thomas’s own preparations were hampered by a crash at the Tour of Switzerland last month. And Egan Bernal, being groomed
by Brailsford to succeed Froome and Thomas, looks increasingly unable to compete for the title this year. Bernal was fifth on the Tourmalet and is fourth overall, three minutes behind Alaphilippe. Alaphilippe is still being coy about his chances of winning, but the prospect is clearly creeping into his thoughts with each extra step he takes in yellow toward the Champs-Elysees. “The closer we get to Paris, the more I’ll be able to ask myself that question,” he said. Pinot, sixth overall and 3:12 behind Alaphilippe, is showing remarkable grit in bouncing back from his Stage 10 misfortune, when he was caught in a group that got separated from other podium contenders in crosswinds. “I have this rage inside me, because in my opinion it was an injustice,” said Pinot, a podium finisher in 2014. “It was a slap the kind of which I’ve rarely suffered.” On Saturday’s climb, he slapped back. “Since the start of the Tour I had this stage in the back of my mind. The Tourmalet, it’s mythical,” said Pinot, who has three career stage wins at the Tour. French President Emmanuel Macron, on hand at the top of the Tourmalet to see Pinot win and Alaphilippe extend his lead, gushed about the “two fantastic riders.” “They attack and they have heart,” Macron said. With just one week left, chances will soon start running out for other riders to spoil France’s party. AP
ESPN: DON’T TALK POLITICS N
EW YORK—ESPN is reminding employees of the network’s policy to avoid talking about politics after radio talk show host Dan Le Batard criticized President Donald J. Trump and his recent racist comments and ESPN itself on the air this week. The reminder went out Friday to all employees, including Le Batard, according to an ESPN employee who spoke on condition of anonymity Saturday because the person was not authorized to speak publicly about personnel matters. ESPN has not spoken publicly about Le Batard’s comments, including whether he faces any disciplinary action. Reached on Saturday, Le Batard also declined comment. For ESPN, the episode raises comparisons to what happened following anti-Trump tweets by its former anchor Jemele Hill nearly two years ago. Following that case, and criticism among some conservatives about left-leaning remarks on ESPN’s air, network president Jimmy Pitaro decreed that its employees should avoid political talk unless they’re reporting on issues raised by sports figures. Le Batard spoke in the wake of the president’s rally in North Carolina, where Trump renewed his attacks on four Democratic congressmen of color, prompting a chant from his audience of “send her back” directed at US Rep. Ilhan Omar, of Minnesota. The ESPN host said he found the attacks on Omar to be un-American and deeply offensive, and that it was wrong of Trump to seek reelection by dividing people. “We, here at ESPN, don’t have the stomach for the fight,” Le Batard said. “We don’t talk about what is happening unless there is some sort of weak, cowardly sports angle that we can run it through.”
A festival of lard at high altitude
L ESPN reasserts political talk policy after radio talk show host Dan Le Batard criticizes President Donald J. Trump and his recent racist comments and ESPN itself on the air this week. AP
Le Batard’s criticism of ESPN’s policy sets him apart from Jemele Hill, who, in September 2017, tweeted on her personal account that Trump was a “white supremacist” and “bigot.” The White House called that a fireable offense, but Hill apologized and the network accepted it. She was suspended a month later for violating the network’s social-media policy when she tweeted in favor of an advertiser boycott against the Dallas Cowboys, whose owner Jerry Jones had said players who disrespected the
American flag would not play on his team. Hill has said she regretted putting her bosses in a difficult position, and amicably left ESPN within a year. She now writes for The Atlantic and has a weekly podcast on Spotify. Along with the White House call for Hill’s firing, Trump tweeted in October 2017 that “with Jemele Hill at the mike, it is no wonder ESPN ratings have ‘tanked,’ in fact, tanked so badly it is the talk of the industry!” The president’s Twitter account has been silent about Le Batard so far. AP
A MONGIE, France—It’s one of the unwritten rules of the Tour de France. When the riders go uphill, cholesterol levels do, too. Up in the Pyrenees where crops can’t grow, meats replace them on the menu: Sausages, cured ham from the southwestern Bigorre region, duck breast, pork pate, duckling filet. Starving lard-guzzlers following the race were greeted with this festival of fat at the La Mongie ski resort station lying below the Col du Tourmalet, where Thibaut Pinot and overall leader Julian Alaphilippe secured a French 1-2 on Saturday. Local chef Jean-Pierre Cenac, a restaurant owner in the Tarbes valley since 1964, cooked the delicatessen on display. “Don’t worry, you’ve reached the French region where people with the lowest cholesterol concentrations live,” Cenac said, without the bat of an eyelid. “We only use duck fat and olive oil!”
Many nutritionists would disagree, but few would resist the lure of his cured duck magret. A little bit hard outside yet soft inside, it’s delicately seasoned with Espelette pepper for an explosion of taste in your mouth. Cenac says he works with local producers he’s known for decades, and transforms the meats himself. “Once seasoned and brushed with salt, Espelette pepper, thyme and bay tree leaves, the magret should be left for one night in a cold room,” he said. “Then you leave it suspended for two to three weeks, that’s all there is to it.” But vegetarians won’t be let down after climbing the Tourmalet. Cenac also cooks a humus made of Haricots Tarbais, the famous white beans discovered in South America that were imported in the Tarbes region in the 18th century. “It’s a simple puree brightened up with cumin, it softens the slightly bitter taste of the bean.” AP
D
God of peace
EAR God, in Jesus You restore our life. In hope we pray: God of salvation, hear our prayer. Empower and animate Your Church to embrace the gifts of all the baptized, in humility, joy and celebration. Reunite families that are separated by war or civic duty. Grant that all who have given their lives in service for others may share in the joys of everlasting life. May the Independence Day of our country gain the true meaning of freedom for all its citizens. May God, who calls us to freedom in Jesus Christ, renew our hearts and minds by the power of the Holy Spirit. Amen. GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com
Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com
Life BusinessMirror
Sinulid 2019: inclusive, diverse, sustainable ellA HeRReRA PHOTOS BY MISS CHARLIZE
M
Y Facebook feed is a treasure trove of story ideas. A few weeks back, some of my younger designer friends have been sharing a dossier shoot by a batch of graduating students of the De La SalleCollege of Saint Benilde’s Fashion Design and Merchandising program. The sensational shoot was titled “Sinulid 2019: Altered Translation,” also the title of the culminating fashion show (on July 18) and exhibit (until July 22) at the ground floor of
SM Aura Premier. The photographs (by Miguel Alomajan) and the creative direction and styling (by Andre Chang) were of international caliber, easily at home on the pages of Vogue Italia, Pop! or Numero. The graduation pieces were fashionforward, of course, coming from young minds, and refreshingly more so because they deviated from the usual grandiose ball skirts and pageant gowns that are all the rage today. The 2019 theme delves into inclusivity, diversity and sustainability, which I hope will not only be a trend but also be a way of life moving forward. I was so intrigued that I checked out the exhibit. Here are some collections and descriptions from the designers’ exhibit notes: n MAriA ANgelA MAriZZe ANdrAde.The collection emphasizes two elements—the smoke and the sword, taken from the designer’s fascination for Joan of Arc’s battle and tragic death. The smoke concept was
applied through heat-gun manipulation using organza, while the sword was embodied through the use of metal-screen mesh. n ellA herrerA. Because there will always be a positive outcome to whatever you are going through—as long as you give your healthy best. Same thing with rust, which forms within a length of time. To some it does not look appealing; it is waste, but it doesn’t have to be. There are a lot of ways to form beauty out of rust. n PriNcess KrixZANh tAdifA. Krixzanh is a brand that incorporates the influence of human anatomy and surgeries. The deconstructed menswear collection is a play on existing tailored pieces. The platform is covered with stickers of x-ray and black and white grid illusion. The design of the frame is intended to assimilate the whole booth [being scanned] with an x-ray scanner. The logo is painted in a nonagonshaped pedestal.
CONTINUED ON D2
ALL ACCESS: UNLIKELY PAIRINGS THAT WILL HOPEFULLY WORK D3
Monday, July 22, 2019
D1
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Monday, July 22, 2019
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today’s horoscope
THe Marian Rivera T-shirt collection includes these Philippine themed shirts with jeepney icon, floral and tropical prints.
By Eugenia last
CELEBRITIES BORN ON THIS DAY: Selena Gomez, 27; Rufus Wainwright, 46; David Spade, 55; Willem Dafoe, 64. HAPPY BIRTHDAY: Communication is your vehicle to success. Establish what you want to accomplish, and persuade others to get on board. The people you encounter throughout your journey will motivate you to become the best version of who you want to be. Love, romance, travel and adventure are encouraged. Believe in what you can do and so will everyone else. Your lucky numbers are 6, 10, 21, 26, 33, 41, 45.
MARiAN RiVeRA (third from left) recently renewed her contract as kultura’s brand ambassador in a contractsigning ceremony held recently at the sM Megamall Mega Fashion Hall. with her are talent manager Ramel David, AVP for Merchandising Fatima Uy kultura sVP ivy Yap and AVP for operations shiela Tan.
Kultura X Marian Rivera M ULTI-HYPHENATE star Marian Rivera has renewed her contract with Kultura, the prominent brand that highlights uniquely Filipino artistry and craftsmanship, marking the occasion with the launch of the Marian Rivera T-shirt collection in a recent fashion presentation at the SM Megamall Mega Fashion Hall. Marian, who has long been an advocate of local products, says that working with Kultura (www.kulturafilipino.com) had made her “appreciate Philippine made products even more.� She is happy that through Kultura, she can help promote Philippine products and culture, adding that she is elated when she sees consumers wearing clothes and accessories, as well as buying souvenirs from the store. “I share the same values as Kultura,� she says. “That is why renewing my contract with them was a very easy decision.� Marian and Kultura worked closely together for her t-shirt line, which comes in seven designs. The brand designed the collection getting inspiration from the things Marian loves—local culture, flowers and T-shirts. The t-shirts are versatile as they are stylish, and Marian can wear these “with my favorite jeans or skirt. I can also be creative by folding or cutting the sleeves or make it a cropped top.� And as the fashion show illustrated in striking ways, both men and women can make the tees work. n
TAURUS (April 20-May 20): Move forward with enthusiasm. Don’t let anxiety and anger stand between you and doing what’s right. Choose to surround yourself with people who bring out the best in you. ★★★★
GEMINI (May 21-June 20): Make personal changes that will make your life better. Distance yourself from people who play emotional mind games. Focus on getting your house in order and starting a routine that is geared toward your happiness and good health. ★★
CANCER (June 21-July 22): Set time aside for a meaningful discussion. Whether it’s with a peer, friend or relative, getting your thoughts out there will encourage others to do the same. Solutions will come in many formats. ★★
➜
LEO (July 23-Aug. 22): Listen carefully to what others say. Consider what’s possible. Knowing what you want will help you eliminate options that are tempting but not in your best interest. Work with what you have, and avoid unnecessary change. ★★★★★
CASSANDRA CHAN, ballerina and Bb. Bacolod in this year’s Bb. Pilipinas, matched her pastel colored floral Marian Rivera T-shirt with a white skirt.
VIRGO (Aug. 23-Sept. 22): If you want to change something, you have to participate. Coming up with a plan is one thing, but executing it is what matters. Be original, helpful and the one who makes a difference. What you say and do counts. Nurture important relationships. ★★★
LIBRA (Sept. 23-Oct. 22): Look past any obstacles, and you will see a passage that will help you reach your destination. A passionate attitude, coupled with an energetic approach, will outmatch anyone who tries to stand in your way. ★★★
➜ olYMPiAN figure skater Michael Martinez showed his edgy street style by pairing his black Marian Rivera T-shirt with jeans.
SCORPIO (Oct. 23-Nov. 21): Communication, travel and interactions with people who have something to share that you aren’t familiar with will be enlightening. Someone you encounter will motivate you to make a personal change that will liven up your life. ★★★
Sinulid 2019: Inclusive, diverse, sustainable
SAGITTARIUS (Nov. 22-Dec. 21): Home improvement doesn’t have to be costly. Make your surroundings inviting. Filling your home with love, laughter and music will cheer you up and encourage you to spend more time at home and less on expensive entertainment. ★★★★★
Continued from D1 n Nicole strAWford. Raised in a Western environment, the designer felt the need to express her deprivation from the Filipino childhood she desired [in her sari-sari collection]. The silhouettes are inspired by the terno, turned modern, to showcase the designer’s cultural transformation while preserving the cultural embodiment of her mother’s time, represesented and inspired by the 1980s and 1990s popular Filipino snacks. n KristiNe KAy cAbuyA. Kleos’s debut collection pieces are highly functional and made out of donated upcycled denim with different colors and textures. The designs are a combination of experimentation and garment draping, making each piece one-ofa-kind. Each piece is tie-dyed, made of five pairs of pants that required low wash to no wash. Out technique and the care label are in dedication to the brand’s promise and values that advocate sustainable fashion. The pieces also know no gender. Their androgynous style is perfect for all. n
ARIES (March 21-April 19): Invest more time, money and energy in personal gains, a healthy lifestyle and clearing up unfinished business. It’s time to be realistic about the past, present and future. Size up situations, and make adjustments that ease stress and favor peace of mind. ★★★
CAPRICORN (Dec. 22-Jan. 19): Consider what you want, and start heading in that direction. Deal with relationship issues to ensure that you are on the same page as someone close to you. A commitment will help to alleviate any doubt you might have. ★★
AQUARIUS (Jan. 20-Feb. 18): Consider what you used to enjoy doing, and check out how best to incorporate it into your current routine. With a little effort, energy and optimism, much can be accomplished. ★★★★
PISCES (Feb. 19-March 20): Interact with people who share your concerns, interests and plans. Collaborating will bring stellar results, as well as the help required to get things done. Love and romance, along with a personal gain, look promising. ★★★
kRisTiNe kAY CABUYA
BIRTHDAY BABY: You are emotional, caring and perceptive. You are persuasive and original.
NICOLE STRAWFORD
‘pet store’ BY EVAN KALISH The Universal Crossword/Edited by David Steinberg
ACROSS 1 Bistros 6 Sleeveless undergarment, for short 10 Crow (about) 14 Looped in 15 2010 statute that expanded Medicaid, familiarly 17 Do a queen’s job 18 Greyhound purchase (see letters 3-7) 19 “Get a ___, you two!� 21 Pioneering Internet provider 22 ESL component: Abbr. 23 Energy 25 What a defect might prompt 28 Regarding 29 Unparalleled company in a field (letters 4-7) 32 Home of the world’s five tallest buildings 33 Organ with a canal 34 Major success 37 Banished to sleep on a couch, say... or where to find the starred answers’ hidden items 41 Dying words from Caesar
42 43 45 49 52
Prefix for “metric� or “logical� Location Envelope-slitting tool (letters 6-9) Church part that sounds high-tech Elementary, my dear Watson speaker of film 53 MA hopeful’s test 54 By way of 55 Marry 56 Football field unit 58 Remnant of a diverted river (letters 3-6) 62 Drain by percolation 65 Rural drinking supply, often 66 Time’s Up movement kin 67 Glide on snow 68 “What Not to ___� 69 Glide on ice DOWN 1 Component of a jam 2 “WOW!� sensation 3 “Granted� 4 Thus 5 Madame, in Spain 6 Kernel holder 7 ___ Dhabi
8 9 10 11 12 13 16 20 23 24 26 27 28 30 31 35 36 38 39 40 44 46 47 48 49
Indian spice mixture “Rumor has it...� Secretly include on an e-mail Doesn’t just leave leaves “Well, ___ you special?� Beginning, informally Not feel so hot Brawl Masters org. Dairy spokescow Clothed (in) Extremely lightweight material Stir to action Clash Environmental prefix Downloading apps while not on Wi-Fi, say Alliterative Pan or Parker Midnight blue, e.g. Handwasher’s target Balderdash Before, poetically No one is above it, they say As of now Biblical book of poems Swears
50 51 55 57 59 60 61 63 64
Dot on a screen Mink relative URL letters Smell awful Like buffalo nickels Mauna ___ (Big Island peak) Call Richard “Robert,� say Impermanent bed Weeding tool
Solution to Friday’s puzzle:
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Monday, July 22, 2019
D3
Clockwise: Kit Thompson, Janine Gutierrez, Paulo Avelino, Mylene Dizon, TJ Trinidad and Glaiza de Castro
Costars say Felicity Huffman remorseful for role in college case LOS ANGELES—Felicity Huffman’s costars in a new Netflix movie say they found her remorseful about her role in a college admissions scandal. Actress Angela Bassett said Huffman appears ready to take whatever steps are necessary in her case. Patricia Arquette said she believes Huffman feels terrible about her participation in the case. Huffman didn’t meet reporters to promote the film Otherhood. She pleaded guilty in May to paying $15,000 to a college admissions consultant to have a proctor correct her daughter’s answers on the SAT. “Nobody is perfect in this world,” Arquette said. “And I do think she’s genuinely sorry.” In the movie Otherhood, producer Cathy Schulman noted that there are ties binding Huffman’s character to the real-life actress. She said Huffman plays a flawed character, a mother who believes that her own actions can make anything possible for her child. “The Felicity that I know and love and worked with is a person who has had a hard year experiencing a flaw,” Schulman said. “And we wish you the best. And we don’t feel that it overshadows our film in any way, shape or form because mothering is complicated and we do what we need to do.” The movie premieres on Netflix on August 2. AP
KRIS BERNAL, Rayver Cruz and Megan Young
A chilling love story from beyond the grave WHAT will you do if you are relentlessly haunted by your past? Beginning today, July 22, GMA brings intrigue and mystery to afternoons with its eerily captivating new series, Hanggang Sa Dulo Ng Buhay Ko. Headlined by Megan Young, Rayver Cruz, Kim Domingo and Kris Bernal, the suspense-drama showcases a haunting love story like no other. Yvie (Megan) and Matteo (Rayver) are childhood sweethearts who fall in love and get married. Together with their adopted son, they happily move into their new family home, along with Yvie’s best friend and cousin, Katya (Kim). But their bliss is quickly replaced by fear. Naomi (Kris), Matteo’s ex-girlfriend, will stop at nothing to disrupt their perfect lives—dead or alive. Also starring in the afternoon series are Boots Anson-Roa as Adora, Matteo’s mother who never liked Yvie; Sharmaine Arnaiz as Tina, Yvie’s mother who had a history of schizophrenia; Francine Prieto as Mercy, Tina’s sister and the mother of Katya; Beverly Salviejo as Yaya Vane, Matteo’s longtime yaya who also becomes his son’s caretaker; Denise Barbacena as Brooke, Naomi’s friend who reads tarot cards; Analyn Barro as Tyra, Naomi’s sister; Joaquin Manansala as Paul, Matteo’s business partner and best friend; and Euwenn Mikael Aleta as Santino, Yvie and Matteo’s adopted son who has speech development problems. Airing right after the top-rating Eat Bulaga, the original series is produced by the GMA Entertainment Group headed by Senior Vice President Lilybeth G. Rasonable, and is under the helm of director Jorron Lee Monroy.
Unlikely pairings that will hopefully work
C
ASTING the lead roles for love-themed projects always carry great risks. Especially at a time when there are already so many different platforms available, no one can rightfully predict how a new pairing can guarantee success at the box office. Hopefully still in cinemas is My Letters to Happy, the first full-feature film of writer-director Pertee Briñas. It stars TJ Trinidad and Glaiza de Castro who both deliver excellent, truthful performances. We learned that although Trinidad was not the first choice for his role, it really didn’t matter because no actor could’ve given his character more depth and more sensitivity than what he effortlessly brought to his portrayal. Trinidad has been in hiatus for some time now, concentrating on his business and building
a family. We are happy that he chose to do this movie. When the cast for this movie was announced, many eyebrows were raised because of the unlikely pairing, but Both Trinidad and De Castro proved the cynics wrong. We recall that almost a year ago, when the decision-makers of iWant TV decided to launch this now highly successful streaming application by choosing the Angel Aquino-Tony Labrusca tandem for Glorious as its opening salvo, the reception was phenomenal! Just upon the release of its trailer, success was already stamped all over the project. All of a sudden, Labrusca was elevated to being an A-list leading man, and Aquino was deluged with offers, many of which she had to politely turn down because these had similar storylines that wanted to pair her with younger leading men. At the coming Cinemalaya Independent Film Festival, there are two entries that have a MayDecember affair as their core. We are more excited about Belle Douleur, the debut feature film of lawyer-producer turned filmmaker Joji Villanueva Alonso. The film pits newly packaged actor Kit Thompson with the fierce, fabulous and fortysomething Mylene Dizon. Alonso has produced more than 30 movies under both Quantum Films and Quantum Post, some of which have won acclaim both locally and overseas. We are happy that she really prepared well before
plunging into directing, taking calculated baby steps and making sure that she understands every aspect of filmmaking. Last year, Alonso directed a short film, titled Last Order, and it brought home the Best Short Film trophy from the 16th Pyongyang International Film Festival in North Korea. We learned that the actress of the moment and recent Urian winner, Nadine Lustre, has a new movie, titled Indak, which explores dance, but not many seem excited about her being paired with the always intense Sam Concepcion. We strongly feel that Indak (can anyone think of a more delectable title, please?) is not the right project for a follow-up after Lustre’s back-to-back-to-back acting victories. It’s good that there is also this new movie with Janine Gutierrez and Paulo Avelino, titled If We Don’t Make It, written by Jen Chuaunsu and directed by Prime Cruz. The filmmaker mentioned he is very excited about this project a romantic film that nonetheless can’t be classified as a rom-com. Avelino has proven his worth as an actor many times in the past, and we are elated that he is being paired with the beautiful, well-bred but underrated Gutierrez, whom we reckon will continue to blossom as an actor in the coming years, if she chooses her projects well. Let’s wait and see which pair will make a lot of noise and sell at the box office. n
Marvel Phase 4 kicks off with Angelina Jolie, ‘The Eternals’ SAN DIEGO—Marvel Studios is kicking off Phase Four with highwattage star power. Angelina Jolie surprised fans at San Diego Comic-Con on Saturday evening along with the cast of the upcoming film The Eternals. Marvel Studios President Kevin Feige says it will hit theaters on November 6, 2020. Jolie was joined onstage by fellow cast members Richard Madden, Kumail Nanjiani, Bryan Tyree Henry and Salma Hayek, as well as director Chloe Zhao. Jolie says she’s already in training and is going to work 10 times harder than she has on any action film before. Phase Three of the Marvel Cinematic Universe ended this summer with Spider-Man: Far From Home and Avengers: Endgame. Feige also says Endgame will surpass Avatar as the highest-grossing film ever in a few days. AP
Netflix debuts trailer for ‘My First First Love 2’
ANGELINA JOLIE at Comic-Con 2019
THE secret is out. Now everyone knows Song-i and Do-hyeon are dating, and this is getting on Tae-o’s nerves. And, at the same time, the solid friendship between Song-i and Tae-o makes Do-hyeon anxious and even jealous at times. Is it the friendship that makes Tae-o go to great lengths to catch Song-i when she falls? In the meantime, the cute couple Hun and Ga-rin are more determined to find their passion and purpose in life. Starring Ji Soo, Jung Chae-yeon, Jiny-oung, Kang Tae-oh, and Choi Ri, My First First Love 2 premieres on July 26 on Netflix.
D4
Monday, July 22, 2019
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Highlighting 101: The answers to questions you’ve always wanted to ask
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IRLS always ask me what a highlighter is, and sometimes I am stumped for an answer. My family members, friends and colleagues who love makeup know what it is but those who are new at it don’t. Years ago, I attended a training workshop for new store personnel of a makeup brand and the trainor described highlighter as the opposite of a contour product. If the latter is used to hide, minimize or “reshape” certain parts of the face, such as a wide forehead or chubby cheeks, a highlighter brings to focus certain features, such as the top of your cheeks and the tip of your nose. A highlighter reflects light and is usually shimmery and sometimes, but not always, glittery. For beginners, I would suggest a cream. I’ve loved highlighting even before it became a fad. I guess my first highlighting product was the MAC Strobe Cream, which is actually a liquid. After that, I used Benefit Watt’s Up, which I love to this day. What I like about cream highlighters (and even blush and contour products) is that you don’t need to be an expert at application. And unless the highlighter has chunks of glitter, it is quite forgiving on skin texture. By skin texture, I mean pores, scars and blemishes. There are highlighters that tend to cling to skin texture in an unflattering manner. Hourglass, Benefit and MAC make the best
highlighters, in my opinion. Hourglass powders are always so finely milled that the shimmer is really like a whisper on your skin. I have their Ambient Lighting Palette, which is quite expensive at around P3,900, but really gives you the glow you’ve been looking for. This palette includes Incandescent Light, one of my favorite highlighters of all time; Radiant Light, a golden beige that’s really like a bronzer; and Dim Light, a beige powder that I use all over my face. Benefit has the highlighting game perfected. They have been doing it for so long, after all. My favorites are Watt’s Up and Dandelion Light. They have two new highlighters— Cookie and Tickle—which are in separate palettes but will probably be available individually pretty soon. I am in love with Extra Dimension Skinfinish, a line of highlighters with a creamy powder formula. It comes in different colors, some dark that you can use as bronzers. I have three of these and my favorite is Beaming Blush. So what exactly does a highlighter do? It brightens parts of your faces, aside from making it look glowing. Highlighting is very easy to overdo, so be careful. Use a fan brush to apply the powder to the high points of your face such as the tip and bridge of your nose, above your Cupid’s bow, beneath the arch of your eyebrows, above the arch of your eyebrows, cheekbones, the center of your forehead and the center of your chin. For cream highlighter, I either use a small concealer brush or my fingers. Another common question is when to apply highlighter. Is it before or after applying the finishing powder? I usually apply after the finishing powder. It’s my last step before the setting spray. I’m not sure how other people do it though. Get your glow on with highlighters. There really are no rules except look good and feel good. n
Now there’s even ‘unli’ warts removal CAN’T get out on a rainy day? Give your self-esteem a lift by reclaiming clear skin with the Unlimited warts Removal Treatment by Diana Stalder (www. dianastalder.com). Zap away those excessive skin growths to prevent them from spreading. warts are communicable when we share our soaps, towels and, in any activity, with skin to skin contact. Diana Stalder’s painless electrocautery warts removal procedure will help remove these itchy tiny bump that appear on the skin. The Post wart Kit would help fasten wound healing. The products included in the kit are Dermablend Cleansing Milk that would soothe, moisturize and hydrate the skin and Dermablend Zinc oxide 10 percent Cream with Aloe and Dermablend Hydrocortisone 1 percent Cream promote wound healing, relieve inflammation, and prevent redness and itch. After the recommended healing period, this will be the perfect time to bring back radiant clear skin through our Skin vigoration Treatment. The procedure is best in reducing scars and promoting collagen production, thus preventing age spots, pimple marks, fine lines and wrinkles. Diamond Peel is also a perfect combination to treat dark spots making the skin glow after the treatment.
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Don’t set an agenda before important meetings Y it down to the final agenda.
By David Komlos & David Benjamin
Individual brainstorming
IDEALLY, people will show up having done the prereading. Briefly remind them of the challenge at hand, and introduce those in the room who don’t know each other. Ask them to quietly reflect on the question and document their thoughts on sticky notes. In ad-
dition to topics the group should cover, people may want to record any ideas or concerns they have.
Clustering
NEXT, ask them to post their sticky notes for everyone to see. Try to do this in an anonymous way so that no
Deciding on topics
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OU’VE probably heard this advice about meetings before: Set an agenda and stick to it. But if your purpose is to solve a complex challenge, this advice couldn’t be more wrong. The group needs an agenda, but the group members need to decide how to spend their time together—whether that’s a few hours or a few days. Below are the steps we recommend.
one knows who suggested what. Give participants time to scan the notes and ask them to look for thematic connections and duplicates. Move those thoughts together into clusters.
and that should be considered for the final agenda. If enough people agree, a topic makes the short list. If not, it’s politely set aside.
Clustering the clusters
WITH a shortlist of possible topics in hand, give the group a finite amount of time to whittle
NOW have people suggest topics that emerge from the clusters
Finalizing
DURING the final sorting and deciding, people might disagree on which topics to address. Here are some questions you can use to help the group evaluate potential topics. n How many of you would rank this as “top 3” once we have our final list of topics? n Can somebody state how this topic will help us reach our goal of solving the complex challenge? n What’s an example of an action that might come out of this discussion? n How does this topic contribute to the complexity of the question? n What’s at stake if we don’t resolve this? David Komlos and David Benjamin are the authors of Cracking Complexity: The Breakthrough Formula for Solving Just About Anything Fast.
WHEN THE HEIR APPARENT Breaking down health-care silos IS THE WRONG CHOICE FOR C.E.O.
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By Elena Lytkina Botelho & Shoma Chatterjee Hayden
N our CEO transition work across a wide range of industries, we found that even at the most respected companies with disciplined succession processes in place, well-suited candidates may not even make it onto the short list of candidates, overshadowed by “safe” or “chosen” ones. We have identified 3 reasons this can happen:
The power of the heir apparent.
In an orderly process to replace a respected CEO, the incumbent typically holds disproportionate influence over the choice of a successor. Successors who rise to the top in these situations are often loyal deputies who have faithfully carried out the incumbent CEO’s agenda.
Likability counts more than it should. Our 10-year CEO Genome study of 2,600 leaders found that the qualities that help one look the part and advance in a corporate hierarchy are often at odds with what it actually takes to deliver results in the CEO role.
The safe choice can be irresistible.
Many companies we advise have a transformational strategic agenda, but when faced with the pressures of selecting the next CEO, their boards look past candidates who break the mold and opt for a
seemingly “safe choice.” We suggest three tactics that can help avoid these costly traps and increase the odds of selecting the best candidate:
A score card linked to business strategy. Before comparing candidates, articulate five to seven priority outcomes and key leadership capabilities required for the next CEO to deliver in the specific business and organizational context.
A deeper lens on the leadership bench. Most boards focus on the shortlist of candidates identified by the incumbent CEO and get only a carefully curated view on the broader team. Once board members form a point of view on candidates based on casual exposure, it is often hard to change.
Trusted agitators. In cases of CEO succession, a board with diversity of thought, backgrounds and traits benefits the organization by staving off groupthink and increasing the breadth of perspectives. Constructing a quality board is about the caliber and perspective of individual directors, as well as the deliberate rules of engagement that allow for productive debate. Elena Lytkina Botelho is a partner at ghSMART. Shoma Chatterjee Hayden heads ghSMART’s leadership-development and coaching practice.
© 2019 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)
By Yvelynne P. Kelly, Diane Goodwin, Lisa Wichmann & Mallika L. Mendu
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ATIENTS with end-stage renal disease—that is, kidney failure—make up less than 1 percent of the Medicare population. But they account for more than 7 percent of the Medicare budget: a staggering $50 billion annually. Patients receive care through a patchwork of providers at sites such as outpatient dialysis units, primary care practices, specialty clinics and hospitals, which often don’t communicate with one another. Gaps in care are inevitable, and opportunities to intervene before problems arise are often missed. T h at ’s why i n 2016 we launched a coordinated ESRD prog r a m w it h i n Pa r t ne rs Healthcare, based at Brigham and Women’s Hospital in Boston, one of the first to bring the care-coordination principles that are increasingly common in primary care to disease-specific specialty care. Ours is the
only such program we’re aware of that coordinates care across all stakeholders (the dialysis units, hospitals, primary care providers and others). Further, unlike other programs, ours extends beyond dialysis-based care to facilitate transplant evaluations and, when needed, palliative care. At the start of the program, a nurse care coordinator (coauthor Diane Goodwin) connected with Brigham and Women’s ESRD patients weekly at four dia lysis units, identif y ing those at risk for deterioration and increased utilization (emergency-department visits and hospitalizations) and implementing strategies to reduce utilization and improve clinical outcomes. Today we have three nurses in this care-coordination role. For patients who are admitted to the hospital, a nurse within the program conducts a post-discharge assessment that includes documenting all medications the patient is on, along with dosage, frequency and route, and communicating
this and other key information to the patient’s primary care physicians, the dialysis unit and others. When patients do go to the ED, a nurse likewise reaches out to the ED team to share information, help guide care and ensure appropriate follow-up. Finally, program nurses communicate directly with transplant coordinators to facilitate evaluations and assure that eligible patients are placed on transplant waiting lists. The results three years out are encouraging. By reducing health-care utilization and facilitating transplantation we’ve thus far saved twice the amount that it costs to run the program. Yvelynne P. Kelly is a clinical research nephrology fellow at Brigham and Women’s Hospital, where Diane Goodwin is the endstage renal disease care manager for the Integrated Care Management Program, Lisa Wichmann is the nursing director for ambulatory care coordination and Mallika L. Mendu is medical director for quality and safety.
Monday, July 22, 2019 E1
WHEN A COMPANY DOMINATES ITS MARKET, DO EMPLOYEES BENEFIT? By Wenting Ma
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N most US industries, the biggest firms have a higher market share than they did three decades ago. A potential concern with this rise in industry concentration is that it reduces workers’ employment options, and thus gives employers the ability to lower wages. However, research also suggests that when firms make outsize profits—as they might when they have a large share of the market— they share some of it with workers in the form of higher wages. Which of these effects is more significant? It depends on the industry and the type of work. My research conducts a crosssectional analysis using data from the US Census. I show that higher industry concentration is associated with lower wages in nonfinancial sectors. However, in financial sectors, a one-standard-deviation increase in industry concentration is associated with 13.78 percent higher wages. Industry concentration has two competing effects on wages: a labor-market monopsony effect and a rent-sharing effect. The rent-sharing effect dominates in financial sectors. My research provides evidence of two nonmutually exclusive mechanisms for this. First, higher market power is associated with a relatively higher return on assets in financial industries. Compared with other profitability measures, ROA has been shown to be a better measure for capturing firms’ abnormal profitability. In other words, financial firms aren’t just capturing more of the market — they’re securing more market power. Second, the way financial firms work may give certain employees considerable bargaining power. Compared with workers in most nonfinancial industries who generally work in teams, financial workers such as traders are closer to final products and their performance is directly linked to firm performance. In addition, Claire Celerier and Boris Vallee show that high-skill workers in financial industries are matched with larger-scale tasks. The high scalability gives high-skill finance workers bargaining power to ask for a larger fraction of rents. In support of this mechanism, I find higher market power is associated with relatively much higher wages for high-skill workers in finance as compared with high-skill workers in other areas. Wenting Ma is an assistant professor at the Isenberg School of Management, University of Massachusetts Amherst.
E2 Monday, July 22, 2019 • Editor: Efleda P. Campos
Education BusinessMirror
Japan grant aid builds classrooms for typhoon-ravaged areas in Leyte
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RMOC City is the latest beneficiary of a classroom construction project under the auspices of the Japanese government.
THE classroom building donated under Japan's grant-aid project to Ormoc City. CONTRIBUTED PHOTO
On June 18, 2019, Third Secretary Junichi Hirano of the Embassy of Japan (in photo above) attended the turnover ceremony in Ormoc City for the “Project for the Construction of Classrooms in Bagong Buhay Elementary School, Ormoc City, Leyte.” Ormoc City Mayor Richard Gomez, Leyte fourth District Rep.
Lucy Torres-Gomez, DepEd Ormoc City Schools Division Superintendent Manuel Albaño, Program Manager Gladys Montenegro of the IsraAID Philippines Global Humanitarian Assistance Foundation Inc. also graced the event. The project was approved in 2017, and is part of Japan’s official development assistance (ODA)
through the Grant Assistance for Grassroots Human Security Projects (GGP). Numerous school buildings in Leyte were severely damaged by typhoons which passed through the province, including Supertyphoon Yolanda (international code name Haiyan) in 2013. Due to the lack of resources and everincreasing enrollment, the school had to use makeshift classrooms to accommodate its students. The makeshift classrooms are made up of bamboo, plywood and plastic tarps which are not safe and
conducive learning environment for children. Through the GGP, the Embassy of Japan provided assistance to the IsraAID Philippines with a grant amounting to $48,556 (approximately P2.4 million). The grant covered the construction of the two-story, two-classroom school building and the provision of furniture and fixtures which will benefit more than 400 students of Bagong Buhay Elementary School. The government of Japan, as the top-ODA donor for the Phil-
ippines, launched the Grant Assistance for Grassroots Human Security Projects in the Philippines in 1989 for the purpose of reducing poverty and helping various communities engaged in grassroots activities. At present, GGP has implemented 543 grassroots projects in the country. Japan believes that these projects will not only strengthen the friendship between the peoples of Japan and the Philippines, but also contribute to sustaining the strategic partnership between the two countries.
PHL needs more scientists–NAST D.O.H. RAMPS UP SCHOOL-BASED VACCINATION
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HE National Academy of Science and Technology (NAST), in its annual scientific meeting on July 10 and 11, concluded that the country needs more researchers, and an improved government procurement process is vital to achieve this. NAST is mandated to advise the President on matters related to science and technology. The meeting also served as an avenue for members to discuss what the country needs, issues to be addressed, and gather suggestions or resolutions. According to NA ST member and academician William Padolina, the countr y needs researchers to address various issues such as the growing population, planning and implementing a sustainable inclusive economy, the challenges in carrying capacity, sustainable global competitiveness, and the effects of environmental degradation and climate change. Outstanding Young Scientists Inc. (OYSI) President Merlyn Mendioro said the Philippines only has 189 scientists per million, whereas the ideal ratio is 380 per million population. In a previous interview with the Philippine News Agency, Science Secretar y Fortunato de la Pena explained that the problem actually is more on the job opportunities available for Filipino scientists. T he department, he said, could produce the Master of Science and PhD graduates, but needs financially rewarding job opportunities here. He noted
that for instance, not all government plantilla positions, as well as enterprises, require MS and PhD graduates. Among the resolutions presented by NAST is the need to improve the procurement process. De la Peña also mentioned this earlier, saying there are times when delays in projects occur because of the procurement process in the Department of Budget and Management. He also noted that there are times when the auditors from the Commission on Audit have d if ferent inter pretations of policies. Josefino Comiso, scientist at Nasa Goddard Space Flight Center, earlier told the PNA that the “bureaucratic impediments” hinder researchers to acquire the tools and equipment they need on time. This, he said, makes it sometimes impossible to get a proposed research program to be completed on time. The resolutions or recommendations from the scientific conference will be sent to the national government. De la Peña on Thursday commended the 12 new members, awardees of the OYSI, an organization of young scientist awardees under NAST. These scientists work in various fields such as molecular endocrinology, agricultural engineering and pharmaceuticals, among others. He encouraged NAST to recognize more scientists and their works. PNA
CAMPAIGN, ASKS MOMS, CAREGIVERS FOR HELP
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S the Department of Health (DOH) declares a dengue alert while still grappling with alarming spikes in measles cases, Secretary Francisco Duque III reiterated last week his appeal to mothers and caregivers to have their children vaccinated under the DOH’s schoolbased immunization campaign. “We’re doing this to provide children and adolescents greater protection against vaccine-preventable diseases. Ang mga ito po ay libre, inaangkat sa ibang bansa, at subok na ang kalidad nila [These are for free, imported from other countries, and their quality has been proven],” Duque told a media briefing at the Ramon Magsaysay High School (RMHS) in Manila City. Duque said the DOH has covered 98 percent of its 3.7 million nationwide target—children ages six to 59 months old. “In our school-based program our target is 10 million children, and we have covered 13 to 14 percent palang dahil kakaumpisa palang ng paaralan [only because the school has just started]. For the 13 years old and above, the target is 2 million and we have covered 43 percent,” he said, adding that the school-based immunization program is until September 29 this year.
said the vaccination is integrated with other free public health services like mass deworming. “Also, selected female Grade 4 students are given human papillomavirus vaccines to avoid cervical cancer when they reach age maturity. But I want to stress that only, only learners with parental consent will be vaccinated,” he said. The DOH only covered 30 percent of its target immunization coverage last year because of the Dengvaxia issue, Duque acknowledged, adding that the public’s trust in vaccines is slowly yet consistently going up because of the measles outbreak which peaked early this year. “Ang takot ay nakakabuti pero
hindi ito sapat, sana ay tuluyan nang bumalik ang tiwala ng publiko sa mga bakuna. Ang lahat pong ito ay dumadaan sa pagsusuri ng [Fear is not enough, it is still best for them to have renewed trust in vaccines. The vaccines are checked by the] Food and Drug Administration. They undergo evaluation, assessment, have been for their quality and safety,” he added. A total of 100 RMHS students, with their parents’ consent, were vaccinated against measles, rubella, diphtheria, and tetanus at the launch of the school-based immunization program in Manila City. With a report from Ma. Teresa Montemayor, PNA
Mass deworming, too
TO be sure, students in public schools also face a host of other health problems, such as parasites and oral health issues. To address the other health issues faced by students in public schools, Duque
A MEDICAL staff at the CAA-A Health Center in Las Piñas City brings out a rapid test kit that could determine if a patient is at risk of contracting full-blown dengue at an early stage. Health Secretary Francisco Duque III has emphasized that early detection is crucial in order to prevent deaths from the mosquitoborne malady, even as the agency declared a national dengue alert on Monday, July 15, 2019, amid a noted rise in dengue cases across several regions in the country. NONIE REYES
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PHL TEAM GARNERS AWARDS AT NATIONAL MODEL U.N. IN NYC
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V ER 2,50 0 delegates from hundreds of universities and colleges around the world gathered at the recent National Model United Nations (NMUN) Conference B in New York City. The Philippines was represented by University of the Philippines, De La Salle University (DLSU) and the De La Salle-College of Saint Benilde (DLS-CSB). The 27-member delegation of DLS-CSB was recognized with the Distinguished Delegation Award. The college, which has been an active participant of NMUN for almost 20 years, represented Germany this year. Equipped with over six months of research and training, the meticulously selected Benildean delegates participated in 17 committees, 12 of which received distinctions as Outstanding Position Papers: Special Committee on Peacekeeping Operations (C-34), Conference of the Parties to the United Nations Framework Convention on Climate Change, and Economic and Social Council (Ecosoc) Plenary. Rounding off the list are the General Assembly First Committee, General Assembly Second Committee, General Assembly Third Committee, Peacebuilding Commission, United Nations Environment Assembly, Office of the United Nations High Commissioner for Refugees, United Nations Industrial Development Organization, World Food Programme and World Health Organization. The delegation was headed by the School of Diplomacy and Governance, and was led by SDG Consular and Diplomatic Affairs Program full-time faculty member Guill Marciano and School of Multidisciplinary Studies Social Science Area Chairman Rene Valladolid. “While it is true that we are ranked second as Distinguished Delegation among other schools across the world, and have been recognized with the most number of Outstanding Position Paper Awards, we wish to underscore inclusion—opportunities for economically challenged and students with diverse learning needs—in the discussion, as well as the key takeaways such as leadership, diplomacy, collaboration, and the SDG community in the Model United Nations,” SDG Dean George Binay said. Marciano said Benilde prepares its students to be global citizens who are equipped with the understanding of diversity. “NMUN gives the students the experience to create policies in a very diverse environment. It allows them to look into the commonalities and ideologies from different backgrounds and tie it down together to reflect the collective voices of people,” he said. “The core values that everyone should have for NMUN is the concept of collaboration and inclusion. These are Benildean values which the students were able to show in NMUN, as they worked and represented the voices of various people by seeing and understanding their individual worth and differences,” he added. Sponsored by the National Collegiate Conference Association in the United States, NMUN stands as the world’s biggest annual Model United Nations (MUN) as the next generation of international student-leaders engage in a collaborative and experiential learning through discussions that tackle important social and national issues. Participants from institutions represent different countries in committees that simulate the operations within the UN.
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Editor: Efleda P. Campos • Monday, July 22, 2019 E3
What skills should I learn to get ahead? Part One
D PR Matters By Millie F. Dizon
EAR PR Matters, I work in the communications department of a medium-sized company, and was recently advised by my manager that they were happy with my work and considering me for a higher position. I was also told that enhancing my skills would give me greater opportunities in the company. What skills should I learn or improve on to grow in the workplace? I am very excited and happy about this, and would greatly appreciate your advice on this.
Dear Cherry, First of all, my colleagues and I congratulate you for this development in your career. We are happy that your company has been happy with your work, and would like to help you advance in your profession. That is very promising. We also agree that our professional and personal lives are a work in progress, and it is always good to learn new things and develop our skills. In an article in Inc.com, Peter Economy highlights 5 Highly Desired Skills You Should Learn for a Changed (and Much Better) Life. “Incredible opportunity still awaits,” Economy says. “all you need is to pick up a few life skills and you will see your chances of being successful increase in all areas of your life.” “Whether you’re an entrylevel employee or CEO, there is a wide variety of like skills available for you to learn and eventually master,” he adds, listing “highly desired skills for the keys to a more enriched personal and professional life.” n Public speaking n Writing n Cloud computing n Creativity n Ability to learn We will discuss more about Public speaking and Writing below, and the rest in next week’s column.
Public speaking
CAMPAIGN SPOTLIGHT: RANKIN REWRITES THE RULES WITH NEW ROLLS-ROYCE PHANTOM FILM STARRING ‘GOT’S’ GWENDOLINE CHRISTIE ROLLS-ROYCE Phantom sits at the apex of the luxury world. It has graced some of the most formative moments of the 20th and 21st centuries with an assuring, silent and sophisticated presence. It is the motor car that proudly counts many of the world’s most influential and revered individuals among its wealthy collectors. Alongside these notable individuals lie a rare and coveted subset of enthusiasts. These young individuals, iconoclasts by nature, have long regarded Phantom as
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Sincerely, Cherry S.
In an article, To Lead Well, Speak Well, in Monster.com, Matt Krumie quotes Barbara Wulf, a professional and professional coach who says that, “choosing the right words that reflect who you are is important so you will not sound canned or disingenuous.” Likewise, “the tone, inflection, and pace of your spoken message can have a lasting impact. Your spoken word has immediate impact on the listener unlike a written message that can be reread for clarity or interpretation.” But how do we develop good speaking skills? In the same article, Melanie Keveles, a professional coach and president of Aligned Advantage Business and Personal Coaching shares some tips: n Establish good eye contact with everyone; n Look for friendly eyes, and make contact with those people; n Don’t be afraid to repeat yourself for emphasis; n Tell stories to get your point across. Examples will be remembered; and n Practice your presentation in front of a mirror, or video or audiotape yourself to see what needs changing.
Writing
ECONOMY believes that “with each day comes a new chance to speak up and speak out.” With that, “public speaking is one of the most critical skills you can develop, because not only it will help you communicate your ideas to your colleagues in a clear and effective manner, but it can help you to persuade, sell, and boost your confidence.”
“HOW familiar are you with writing in different styles when the time calls for it? Can you right a professional report or can you write a polite but, firm letter? Economy gives us pause to think with these questions, adding that strong writing skills will not only give us mastery of spelling and grammar, but make us “an expert at organizing and communi-
the ultimate expression of creative will. Take for example Salvador Dali who filled a Phantom with 500 kilograms of cauliflower, or John Lennon who selected his Phantom as a canvas for a psychedelic mirage. More recently, Skepta— darling of the Grime scene, transformed Phantom into a rolling recording studio. In this vein, when British photographer Rankin made Phantom his subject, Rolls-Royce Motor Cars was compelled to oblige. Counted among the great photographers and filmmakers of our time, Rankin’s strong sensorial style has led him to move beyond fashion and beauty into a world of atmospheric storytelling. Rankin shines a light on Phantom’s younger driver focused appeal in a short film that speaks directly to a new generation of Phantom customer. This generation are hyper-successful, self-made, individuality seekers; this generation are in the driving seat. Torsten Müller-Ötvös, chief
executive officer, Rolls-Royce Motor Cars, commented, “Phantom Limousine, the extended wheelbase and Phantom, reflect two distinct groups of patron. The former are drawn to the formality of the ultimate chauffeur driven limousine, while the latter are lured by Phantom’s exceptional driving experience. Rankin’s playful and witty short film captures the younger and daring charisma of Phantom and displays a refreshing irreverence toward the expected codes of automotive luxury.” Rankin cast Gwendoline Christie, the English star of stage and screen, most recently known as Lady Brienne of Tarth in Game of Thrones and Titania in London’s Bridge Theatre’s A Midsummer Night’s Dream, as the heroine who takes to the wheel and puts Phantom through its paces. Herself a symbol of nonconformity and unapologetic success, Christie’s role boldly challenges preconceived impressions of Phantom owners.
cating your thoughts coherently and concisely. Tomas Laurinavicius agrees with him, highlighting the Reasons Why Writing Remains a Critical Skill for Success in an article in Huffpost. “Writing helps us think better, and perhaps even smarter,” he says. “Similar to dreams, writing allows us a way to collect our otherwise scattered thoughts
and ideas, and channel them into a single beam of information. It opens a new dimension for the mind to move into, and consequently, creates a space for unparalleled expression and imagination.” He also shares with us some tips on how we can develop our writing skills: Look over a piece of writing before publishing and/or sending,
and if the body seems uneven or otherwise imbalanced, it’s a good idea to give it a once over at the very least to check for redundancies, run-ons and rambles. Be able to express yourself in both an easy to understand and interesting way. Write for the reader. That’s the “golden rule” of effective writing. When writing, it’s often the first instinct to go for the flowery prose and drawn-out metaphor, but you’re better off keeping things simple. Opt for getting to the point rather than going on tangent— readers will forever be grateful. Strong writing skills are the first steps toward establishing credibility in either an authoritative or instructional setting. And we certainly lose credibility with poor grammar and spelling. Make sure you’re using the right words and your sentences make sense.
PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.
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E4 Monday, July 22, 2019
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How immigrants give American companies a powerful boost against Chinese rivals THOUSANDS of people, including immigrants and their supporters, rally against President Trump’s immigration policies as they march from Daley Plaza to the Chicago field office of Immigration and Customs Enforcement, July 13, 2019, in Chicago. ABEL URIBE/CHICAGO TRIBUNE VIA AP
By Benjamin A.T. Graham
University of Southern California — Dornsife College of Letters, Arts and Sciences
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THE CONVERSATION
he ongoing trade war is the most visible front in America’s struggle with China for global influence. Oddly, it may be immigration policy, as much as tariffs and trade deals, that determines which country prevails.
That’s because American competitiveness in foreign markets is a key battlefield in the struggle. And while the US has long been the leading source of foreign investment in developing countries, China has emerged as an increasingly assertive player. With its Belt and Road Initiative, China is using investment as a tool to extend its political influence throughout Asia, Africa and Latin America. But as it turns out, immigrants—a group that President Donald Trump frequently denigrates— provide the US with a surprisingly powerful competitive advantage, as my research has shown. And policies that limit the number of immigrants who can come to the US could be detrimental to America’s competitiveness in the long run.
A nation of immigrants
WHILE America is a nation of immigrants, China is not. Chinese companies have few immigrants to hire, and this hurts them. There are only a million for-
eign-born residents in China, compared with 50 million in the US, even though China’s population is four times larger. Whether an American company wants to invest in India, Nigeria, Armenia or Guatemala, there is a flourishing immigrant community in the US that businesses can tap to help them navigate challenging social and political environments. Few Chinese companies can do the same. This gives American companies a competitive edge. Specifically, immigrants’ social and political ties to their home countries, combined with the professional connections they make in the US, allow immigrants to bridge the gap between American companies and valuable networks in developing countries.
Brothers-in-law and childhood friends
IN many developing countries, formal institutions like courts are weak, and personal relationships
According to one manager in the Philippines, if a supplier delivers a faulty shipment of goods, a well-connected company doesn’t have to go to court to get its money back. It threatens to tell everyone in its extended network. The threat of reputational damage and lost business can be enough to enforce the contract—and a lot faster and cheaper than a court battle. play a large role in both business and politics. If you want to get a permit quickly, you need a brother-in-law in the permit office or a childhood friend who is now a politician. Thriving in emerging markets requires knowing and trusting the right people. These can be hard relationships for foreign companies to develop. Many turn to local fixers to navigate challenging environments. But establishing trust with a local you just met is hard. A fixer you can’t trust is a fixer you can’t use. This is where immigrants come in. Immigrants often have the same local connections as any other fixer—many retain strong ties to childhood friends and extended family back home. At the same time, they also build strong, trustworthy ties to colleagues and friends in their new country of settlement. This makes immigrants valuable brokers.
Investing in the Homeland
IN my new book Investing in the Homeland, a team of researchers I led interviewed the managers of over 400 multinational companies doing business in the Philippines and the country of Georgia.
Georgia and the Philippines are excellent cases because they are both typical of emerging markets: profit opportunities abound, but so do risks, including corruption, red tape and an unpredictable policy environment. We gathered information on the strength of companies’ social networks, including their ties to other businesses, how frequently they interacted with government officials and whether current or former government officials sit on their boards of directors. We also assessed strategy, especially how companies managed political challenges and resolved disputes with counterparts. Our data revealed that the companies owned or managed by migrants—regardless of nationality—were better connected than other foreign businesses and that these connections helped them survive in challenging environments. For example, migrant-affiliated companies were five times more likely to report resolving business disputes outside the formal court system. Instead they turned to well-connected friends and family members to broker an efficient resolution. This is critical, given how slow and unpredictable courts
in developing countries can be. According to one manager in the Philippines, if a supplier delivers a faulty shipment of goods, a well-connected company doesn’t have to go to court to get its money back. It threatens to tell everyone in its extended network. The threat of reputational damage and lost business can be enough to enforce the contract—and a lot faster and cheaper than a court battle. Our research shows that migrant-affiliated companies are also four times more likely to have a current or former government official serving on their board of directors and were more than twice as likely to use their owners’ or managers’ personal relationships as a tool for handling government relations. These relationship-based strategies pay off: Migrant-affiliated businesses were almost twice as likely to claim they had achieved success in influencing government policy in the host country.
Being high-skilled helps
OF course, not all immigrants have valuable social ties. New research by economist Ana Cuadros and her co-authors shows that an influx of migrants with management skills promotes
foreign investment to flow into their homeland, but the same is not true for lower-skilled ones. So the more wealthy, educated immigrants the US admits, the more potential brokers there are for American businesses to hire. The H-1B visas available to high-skilled workers and the EB-5 visas for immigrant entrepreneurs who launch large businesses are most likely to attract the type of immigrants who can serve as brokers for American companies. Thus far, such visas have been more restricted under Trump than President Barack Obama. But the Trump administration has proposed moving toward a points-based system. An unfortunate side effect is that this would reduce the number of visas issued for family reunification. While any overhaul of the immigration system has to grapple with these moral tradeoffs, there is a strong economic case for increasing high-skilled immigration. Immigrants may just hold the key for the US to outmaneuver China in the struggle for global economic supremacy—as long as Trump’s inflammatory rhetoric doesn’t get in the way. Sarah Orsborn, a research assistant in the Security and Political Economy Lab and undergraduate at USC Dornsife, co-authored this article. This article is republished from The Conversation under a Creative Commons license. Read the original article here: http://theconversation. com/how-immigrants-give-american-companies-a-powerful-boostagainst-chinese-rivals-120402.