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Saturday, July 23, 2016 Vol. 11 No. 287
‘NERVOUS’ AGENTS IN CHINA CANCELING TOURS TO PHL
Chinese charter-flight cancellations continue By Ma. Stella F. Arnaldo
INSIDE
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boost of confidence
Sports BusinessMirror
CHRIS FROOME’S overall lead of three minutes and 52 seconds will be difficult to erase over the final two Alpine stages before Sunday’s mostly ceremonial finish on the Champs-Elysees in Paris. AP
HE Civil Aeronautics Board (CAB) sought to downplay recent cancellations by Chinese tourist groups of charter services by some Philippine carriers.
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| SAturdAy, July 23, 2016 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao Asst. Editor: Joel Orellana
Not another muddled tropical cocktail
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BOOST OF CONFIDENCE Riding in a yellow bodysuit and yellow aerodynamic helmet, Chris Froome pumped his right fist after clocking slightly more than half an hour over the 17-kilometer route from Sallanches to the Megeve ski resort—which featured majestic views of Mont Blanc.
By Andrew Dampf The Associated Press
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EGEVE, France—Chris Froome won a mountain time trial and opened up a seemingly insurmountable lead of nearly four minutes over his closest challenger in the 18th stage of the Tour de France on Thursday. Riding in a yellow bodysuit and yellow aerodynamic helmet, Froome pumped his right fist after clocking slightly more than half an hour over the 17-kilometer route from Sallanches to the Megeve ski resort—which featured majestic views of Mont Blanc. Taking his second stage win of this year’s Tour, Froome finished 21 seconds ahead of Dutch rider Tom Dumoulin. Froome’s overall lead of three minutes and 52 seconds over Dutch rider Bauke Mollema will be difficult to erase over the final two Alpine stages before Sunday’s mostly ceremonial finish on the Champs-Elysees in Paris. “The main thing for me now is staying safe,” Froome said. “Obviously, I’ve got a fantastic advantage now. So now it’s about looking after that advantage and not taking any risks. “It’s not over until we cross that final finish line, but today is a huge boost of confidence,” Froome added. “I think over
these next couple of days we’re going to see more of a race for podium spots.” Froome stood only fifth at the first checkpoint, the top of the Cote de Domancy climb, but the British rider clearly saved energy for the second half of the stage, surging in front over the final kilometers. “It was a pulsating race, but I knew it was going to be difficult. I was expecting to lose,” said Dumoulin, who rode 90 minutes before the race leader. “Froome just showed he is the strongest.” Spanish Vuelta champion Fabio Aru of Italy finished third in the stage, 33 seconds behind. It was the Tour’s first mountain time trial since the 2004 race against the clock up l’Alpe d’Huez. Besides the flat opening 4 kilometers and a short descent at the finish, it was entirely uphill. Adam Yates of Britain remained third overall, 4:16 behind, and two-time runnerup Nairo Quintana stayed fourth but now trails by 4:37 after another difficult day for the Colombian. Froome’s other stage win this year came with an audacious downhill attack in Stage 8 in the Pyrenees. The Kenyan-born rider with Team Sky also won a time trial in the 2013 Tour, when he took his first overall victory. Having also won the Tour last year,
Froome is on course for his third title in four years. Considering that most of the route was uphill, many riders used road bikes fitted with bars to lay their arms on for a more aerodynamic position. Froome was one of the few riders to use a full time trial setup with an aerodynamic rear disc wheel instead of traditional spokes. “I think that was a big part of today’s stage, selecting the right equipment,” Froome said. “The other aspect of today was pacing. It
was important not to go too fast too early.” Fans lined the major climb of the route, the Cote de Domancy, getting up close to the riders to shout encouragement—with glaciers and snowcapped mountains in the distance. Stage 19 on Friday follows a 146-kilometer route over four ascents from Albertville to Saint-Gervais Mont Blanc. The penultimate leg on Saturday concludes with a tricky descent to Morzine after four more climbs through the Alps.
Take it from Merckx
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EGEVE, France—Take it from cycling great Eddy Merckx: nobody can beat Chris Froome in this Tour de France. Riding with the poise and purpose of the Tour’s undisputed leader, Froome won a mountain time trial in Stage 18 on Thursday and opened up a seemingly insurmountable lead of nearly four minutes over his closest challenger, Dutch rider Bauke Mollema. Only two Alpine stages remain before Sunday’s mostly ceremonial finish on the
Champs-Elysees in Paris. “He deserves his win. He’s the strongest,” said Merckx, a five-time Tour winner. “I can’t see what could prevent him from keeping this yellow jersey until Paris. His opponents just stay on his teammates’ wheels. Barring an incident, nobody can beat him in this Tour.” “That’s a huge compliment coming from Eddy,” Froome said. “Obviously, we feel like we’re in a bit of a bubble in the race here. But to have somebody like that, give a compliment like that, is a great honor.” AP
MORE ABOUT WHO’S NOT PLAYING IN RIO
Sports
This developed, even as tourism-industry sources continued to rack up losses from cancellations by Chinese tour groups, ostensibly due to the recent ruling on the South China Sea dispute between the Philippines and China, which was made by the Permanent Court of Arbitration at The Hague. In an interview with the BusinessMirror, CAB Head for Legal Affairs lawyer Wyrlou E. Samodio said on Friday “only one major carrier filed a notice of cancellation today of its two charter flights from China for the month of July.” See “Chinese,” A2
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The number of charter flights to Cebu reportedly canceled by Chinese tour operators thus far
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BRAZIL’S national cocktail is poised for »Olympic exposure. AP
THOMAS BACH says it would be good if in golf, a wide range of players from as many countries as possible competing for medals. AP
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ORAL GABLES, Florida—It’s tempting to call cachaça a Brazilian rum and think of the caipirinha as another muddled tropical cocktail. The upcoming Olympics in Rio de Janeiro may change that. Brazil’s national cocktail and unique distillation of sugarcane juice into a clear liquor are poised for the kind of worldwide exposure enjoyed by tequila after the 1968 Olympics in Mexico City and Australian wines after the 2000 Summer Games in Sydney. “We, Americans, love to consume the Olympics and ‘travel’ there without going there by drinking and eating and celebrating the culture of whatever the host country is, so I think a lot of people are going to be watching the Olympic Games with a caipirinha in their hands,” Leblon Cachaça President and CEO Steve Luttmann said in a recent interview. Cachaça (pronounced ka-SHAH-sah) and rum share origins in sugarcane but they are processed differently. Cachaça, by definition, must be produced in Brazil with fresh sugarcane juice and contain alcohol by volume of 38 percent to 48 percent. Rum can be made anywhere, and it’s usually made from molasses and distilled at higher percentages of alcohol by volume. The US formally recognized cachaça as a distinct product of Brazil in 2013 after the two countries signed a trade agreement (in exchange, Brazil recognized bourbon and Tennessee whiskey as distinctive US products). The market for cachaça has steadily grown over the last decade, alongside the liquor industry’s targeting of US consumers’ growing appreciation for premium rums. In April 10 cachaça producers seeking US distribution occupied a significant amount of trade expo space at the Miami Rum Renaissance Festival. When Leblon launched in 2005, US cachaça sales totaled just a few thousand cases sold mainly in Brazilian restaurants. Now owned by Bermuda-based industry giant Bacardi, Leblon boasts annual sales of 50,000 nine-liter cases, Luttmann said. “We found that when anybody consumed cachaça with the expectation of a rum, it tastes very different,” said Luttmann, who led a “Legalize Cachaça” campaign to have the liquor recognized independently from rum. While the caipirinha’s sweet, tropical flavors may resemble a mojito, it’s closer in spirit to a margarita, according to Luttmann. “I would say that cachaça is more similar to tequila than rum,” he said. “It’s more similar to making tequila than it is to making a rum, in the context that they both use fresh juices from the raw material, from the fruit.” As the caipirinha has gained popularity in many bars, particularly those that hosted viewing parties for Brazil’s World Cup two years ago, some bartenders now mix variations of the cocktail with vodka or sake and add strawberries, oranges or other fruits. A true caipirinha—cachaça mixed with limes and ice—seems light but requires precision when mixing, said Rafaella Demelo, a Brazilian native and bartender at Bulla Gastrobar, a Spanish bar and restaurant in Coral Gables, Florida. “It’s a very simple drink but it’s very hard to get it right. Not only do you have to know the amount of liquor to put in it, but also the amount of limes to put in it and the sugar, as well,” she said while mixing a caipirinha during a recent interview. Aside from proper amounts of cachaça and white sugar, half a lime should be cut into cubes, “because a caipirinha is not only about the juice of the limes, but also about the bitters, the skin of the limes,” Demelo said. Shake the ingredients with ice and pour into a glass without straining. “It has to be everything you used to make a caipirinha straight to the glass, otherwise, you’re not going to have the lime, you’re not going to have the smell,” Demelo said. AP
Special to the BusinessMirror
YEAR away from golf’s return to the Olympics after a 112-year absence, International Olympic Committee (IOC) President Thomas Bach said it would be good if the sport had a wide range of players from as many countries as possible competing for medals. And that’s what it delivered—41 countries in the men’s and women’s competition—an example of golf’s global appeal. But the story of celebrated return has become more
about who’s not playing. Jordan Spieth will be watching from home, still wondering if he should have set aside his personal concerns and gone to Rio de Janeiro. Rory McIlroy said he won’t be watching at all, citing the Zika virus and then taking a swipe at golf as an Olympic sport by saying he would watch “the sports that matter.” Of eligible players, 21 men said they would not be going, nearly half of them citing concerns about Zika. The women have carried the torch for golf, with only
one player declining to go because of the mosquitoborne virus that has been linked to birth defects. Stacy Lewis has questioned whether the men make too much money to care about the Olympics. She is getting married in the fall, and hearing so many men cite Zika because they plan to start families caused her to probe deeper into the threat. “I talked to a lot of different people and, basically, went into the conversation thinking in my head, ‘OK, give me a reason I shouldn’t go.’ And none of those people ever
gave me a reason I should not go,” Lewis said. “I want to be a part of the Olympics,” she said. ”I think the Olympics are bigger than any golf tournament on the planet. It’s bigger than the Masters. It’s bigger than the US Open. It’s bigger than the Women’s Open. It’s the biggest thing out there, and I want to be a part of that.” None of the top 4 in men’s golf will be part of the Rio Games. The men will have only eight of the top 20 in the world, including Masters champion Danny Willett of England and British Open champion Henrik
Stenson of Sweden. The women will have nine of 10, only because South Korea has five players in the top 10 and countries only are allowed to send four. The men’s competition from August 11 to 14, followed by the women from August 17 to 20. Regardless of who plays, medals will be distributed to a golfer for the first time since George Lyon of Canada won the gold in Saint Louis against a 77-man field—three Canadians, 74 Americans. The women did not play. AP
SUN AWARDS FOR OUTSTANDING Senior CITIZENS TURNS 26 OurTime BusinessMirror
B4 Saturday, July 23, 2016 • Editor: Efleda P. Campos
SUN Awards for outstanding Pinoy senior citizens turns 26
THE Coalition of Services of the Elderly Inc., a non-governmental organization, focuses on providing services for older people. This group is being trained on program planning. PHOTO COURTESY OF C.O.S.E.
By Christian Jessie Desoloc | Special to the BusinessMirror
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AMPUNG Ulirang Nakatatanda (SUN) Awards, an awards body recognizing Filipino elders and their contributions to society, turns 26 this year and has extended their nomination period to July 29.
The award is given by the Coalition of Services of the Elderly Inc. (COSE), a non-governmental organization that focused on providing services for elderly people. The Sampung Ulirang Nakata-
tanda Awards was created in 1991 to recognize the important contributions of elderly Filipinos in society. It later became part of the annual Elderly Filipino Week in October,” said Hazel Ayne Gar-
cia, communications coordinator of COSE. The extension of the nomination period was to accommodate more entries, Garcia said. “We really want to find inspiring and empowering elderly people in the country to show the capacity and strength of this sector, and still active members in nation-building.” COSE said that, in order to qualify for the nomination the nominee must be at least 60 years old; must not be multiawarded and nt wellrecognized in the international or national level; and must have selflessly rendered life for the service of other people for at least five years. Information on how to nominate is available in their Facebook page.
From the nominees COSE will receive, Garcia said the organization will validate and form a shortlist until a jury composed of COSE and their partners from their government and private sector narrows it down to the top 10. Garcia said SUN awardees have been chosen from different sectors, including farmers, women, persons with disability and indigenous groups. “The awardees are all ordinary older people who, in one way or another, have rendered exemplary service to their respective communities. To date, over 200 unsung heroes nationwide have been recognized and awarded,” she said. The top 10 winners will get a trophy, a cash prize worth P10,000, a round-trip ticket for two from their residence to Manila, and hotel accommodation with food allowance for two in the awarding period, Garcia said. Last year, one of the awardees of the SUN Awards was a Dumagat farmer and a traditional midwife (locally known as manghihilot) named Jolita de la Cruz. Garcia added that de la Cruz has assisted three generations of birthing women in her community and never asked for any compensation. The winner also extended help to the sick ones in her community, Garcia said. Another notable winner of the SUN Awards is Rosita Y. Lacson from Quezon City. Lacson was an urban-poor organization leader since the martial law days and has also been active in the mobilization of social pension for the poorest. COSE monitors the winners who happen to be within their existing project areas. She said their past awardees continue to render their services and have even become active leaders of their respective organizations in their communities.
news@businessmirror.com.ph
Employing PWIDs can be rewarding for companies By Cai U. Ordinario @cuo_bm
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MPLOYING persons with intellectual disabilities (PWIDs) can be rewarding for companies, particularly those in sectors that have tedious and repetitive processes. Unilab Foundation Rhodora Palomar-Fresnedi said PWIDs, such as persons with autism, can be excellent employees for retail companies, hotels or even restaurants. Palomar-Fresnedi said PWIDs can be very passionate about simple tasks, such as stacking merchandise, folding matressess, or making the perfect cup of coffee. “The next research I want to do is [to find out] if you employ persons with autism, especially those who have obsessive compulsive disorder, you would increase productivity or reduce spoilage in supermarkets,” she said. Unilab and the local government of Carmona said PWID employees are very diligent workers who are always on time and are passionate about simple tasks, such as shredding documents. Pa lomar-Fresnedi said their disability becomes part of their strengths as workers because they ensure they complete tasks and do the job perfectly every single time. Employing PWIDs can help companies clear months- or yearlong backlogs in a short period of time. She said with their focus, they are also able to influence other workers to commit to their jobs. Such is the case of the local government of Carmona. Mayor Dahlia A. Loyola said the local government now have more than two PWIDs working in the City Hall. One of them is working at the treasury office. His daily tasks include checking receipts and functioning as messenger. She said it was not easy at first, but when the PWIDs became more adjusted to their work, other workers in the City Hall started coming to office on time and were able to lessen the chatter among themselves.
“Nakita namin beneficial kahit sasabihin wala masyado dini-deliver na trabaho [na] totoo sa simula. Pero at the end of the day, ’pag nasanay na sila sa routine works na ginagawa, very beneficial to the organization, masipag,” Loyola said. “’Pag inutusan mo siya bilang regular messenger na magdala ng communication sa ibang departmento siguraduhin mo lamang na nandun ka kasi kino-call niya iyong attention. Halimbawa pumunta siya sa budget office, wala ’yung tao doong magre-receive. Sasabihin break time. ’Pag dumating at alam niyang break time namin ay hanggang 10 minutes maximum, sisitahin ka,” she said. Apart from the benefits in the staff, employing PWIDs and Persons With Disability (PWDs), in general, is mandated by law, specifically Republic Act 10524, or An Act Expanding the Positions Reserved for Persons with Disability of 2013. Under the law, companies are mandated to allocate one percent of their work force for PWDs, according to the National Council on Disability Affairs (NCDA). In the US, the requirement is even higher at 7 percent. “Private corporations with more than 100 employees are encouraged to reserve at least 1 percent of all persons with disabilities,” the law mandates. NCDA Information Officer Rizalio Sanchez said about 16 per 1,000 of the country’s population had disability based on the 2010 Census of Population and Housing. Data showed of the 92.1 million household population in the country, 1.443 million Filipinos, or 1.57 percent, have disabilities. Of the total PWDs in 2010, males accounted for 50.9 percent, while females comprised 49.1 percent. These figures resulted in a sex ratio of 104 males with disability for every 100 females with disability. Males with disability outnumbered females in the age groups 0 to 64 years. The largest excess in the number of males was in the age group 0 to 14 years with a sex ratio of 121 males per 100 females.
Pension of 73,225 seniors in Central House-ownership rates fall in Australia as young can’t afford to buy Luzon now delivered door to door
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ITY OF SAN FERNANDO, Pampanga—A total of 73,225 older persons from Central Luzon will benefit from the door-to-door delivery of stipends/grants under the Social Pension for Indigent Senior Citizens (SPISC) starting this month. This, after a memorandum of agreement (MOA) was executed anew between the Department of Social Welfare and Development (DSWD) Field Office (FO) III and the Philippine Veterans Bank (PVB). The two agencies inked their f irst ag reement in 2015 when 32,460 seniors aged 65 and above in selected cities and municipalities in the region were given cash grants through door-to-door delivery. Mary Jean Balico, head of Social Pension Unit, said the DSWD FO III will disburse P2,196,750 to 73,225 seniors aged 60 and above in 130 municipalities and cities in Central Luzon. The seniors were among the identified beneficiaries of SPISC based on the result of the data generated by the Listahanan or National Household Targeting System for Poverty Reduction (NHTS-PR) of the DSWD. Under the MOA, the PVB shall implement the pay-out of the grants/ stipends to SPISC beneficiaries via door-to-door delivery in their respective addresses in accordance with the master list from DSWD. Pay-out should be completed within 30 calendar days from PVB’s receipt of the check and master list. The PVB shall release the grant only to the SPISC beneficiary and
will not release the grant to a representative, even if armed with a special power of attorney. PVB shall only pay beneficiaries who have complied with the requirements. The DSWD shall pay PVB a service fee of P100 for every grant/stipend successfully delivered and paid out. To date, there are 73,225 indigent senior citizens who will be benefiting from SPISC in the region. “All of them are now covered by the door-to-door scheme,” said Venus F. Rebuldela, Assistant Regional Director for Operations of the DSWD field Office III. The grant/stipend under the SPISC is an additional government assistance given to indigent senior citizens pursuant to Republic Act 9994, also known as Expanded Senior Citizens Act of 2010. It aims to augment the daily subsistence and other medical needs of indigent Filipino senior citizens. Under the operational guidelines issued by the DSWD, senior citizens who are 65 years old and older and who meet the eligibility criteria will benefit from this program. A ll qualified senior citizens shall receive their P500 monthly social pension on a quarterly basis in the first month of each quarter. Indigent senior citizens are those who are frail, sick, disabled, not receiving monthly pension from Government Service Insurance System, Social Security System, Philippine Veterans Affairs Office, Armed Forces of the Philippines Savings and Loan Association Inc. and other private insurance companies. PNA
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ELBOURNE—Thewealth gap in Australia between the young and the old is gradually widening, as householdownership rates in the country continue to plummet, a new Melbournebased survey revealed. In t he Household, Income and Labour Dynamics in Australia (HILDA) report released on Wednesday, findings revealed fewer-than-half of all Australians could be homeowners by 2017, as t he d iv ide bet ween high- and low-income earners continues to grow. HILDA author and University of Melbourne Prof. Roger Wilkins said older generations had benefited from large increases in house value, while the high cost of real estate was putting pressure on the younger generations. “ B et ween 20 01 a nd 2014 , owner-occupied houses have declined by 3.5 percentage points. That translates to 700,000 Australian homes,” Wilkins said in a University of Melbourne news release on Wednesday. “It is likely that in the next few years, less than half of Australia’s adults will be home-owners.” The findings revealed elderly couples over 65 comprise the wealthiest households in Australia, having experienced a real increase in median net wealth of almost 70 percent since 2002. Australia’s longest-running household survey, based at the Universit y of Melbour ne, interviews approximately 17,000 Au st ra l i a n s eac h yea r, a s it aims to form a national report
OUR TIME
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GRANDMA’S PINEAPPLE HARVEST Despite her age, 60-year-old Emilia Lunag personally manages the marketing of her pineapple harvest right in her backyard in Amballo, Bagabag, Nueva Vizcaya. Many of Nanang Milya’s age prefer working at the farm for livelihood and natural exercise. LEONARDO PERANTE II
on topics including household finances, employment, family life and health. “The HILDA Survey helps to paint a picture of contemporary Australia. It's a crucial tool for policy making and to understand the social and economic direction of the nation,” Wilkins said on Wednesday.
“The data exposes some painful realities in many of the nation’s households. We’re seeing high poverty rates for single-parent families. Almost 20 percent of single parent families are lacking basic essentials,” the report said. “Nearly 70 percent of all Australians households have received some form of welfare benefits be-
tween 2001 and 2014.” The report also provided data on Australia’s small businesses, and their tendency to employ fewer people. Small businesses are more likely to employ men, older people and trade workers, while these jobs tend to be lower wage, part time or casual. PNA/Xinhua
THE PRODIGAL SON Dear Lord, You told us the parable of the prodigal son to bring home to us the message of Your Father, that is our loving Father who cares for all His children and is ready to forgive even those who have squandered their heritage and their lives. God is a “desertion-proof” Father. His heart is always open to welcome back whoever returns to Him with a sorrowful heart. He does not only welcome the prodigal children who go back to Him, but also reinstates them in their dignity and celebrates their return. For us who becomes like the prodigal son, may we apologize to You, O Lord, for our past shortcomings and to promise greater faithfulness in the future. Amen! Word & Life, Fr. Sal Putzu, SDB and Luisa M. Lacson, HLF
BUSINESS OPPORTUNITIES The Franchise Asia Philippines 2016 Expo opened on Friday at the SMX Convention Center in Pasay City. Gracing the event are (from left) Indonesian Ambassador to the Philippines Johny J. Lumintang; Franklin L. Go, Philippine Franchise Association (PFA) chairman; Vice President Maria Leonor G. Robredo; PFA President Alan L. Escalona; and Samie Lim, PFA chairman emeritus. With more than 20 years of bringing Asia to the world and the world to Asia, Franchise Asia Philippines provides the platform to help franchises grow not only in the booming Philippine market but also across the Asia-Pacific region. NONIE REYES
P25.00 nationwide | 3 sections 16 pages | 7 days a week
NICKEL EXTENDS GAINS TO 11-MONTH HIGH ON PHL SUPPLY CONCERN
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ickel extended gains to a 11-month high on concern the Philippines’s crackdown on mines is disrupting supplies from the world’s top supplier of nickel ore. A gauge of mining stocks climbed for the first time in a week. The new government in the Philippines has pledged to shut mines that fall short of environmental and welfare standards. Environment Secretary Regina Paz L. Lopez said on Wednesday that the state plans to suspend shipments from an idled mine owned by the nation’s top refiner, Nickel Asia Corp., while the checkup is conducted. Inventories of the metal in warehouses tracked by the London Metal Exchange (LME) fell 0.4 percent on Thursday to the lowest since October 2014. Prices also gained as China, the biggest user, said refined nickel imports more than doubled to a record in the first half. Nickel is up 22 percent this year, rebounding from a 42-percent slump in 2015, which was the worst per formance among LME metals. “Off-exchange nickel inventories are being eaten into by Philippine production curtailments, as this metal continues in its unfamiliar leadership role to
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@lorenzmarasigan
he country’s two telco giants dared the antitrust body to be “transparent to the public” by stating that its transitory rules were in effect when they coacquired their supposedly budding rival in May, something that is crucial in the ongoing probe on the controversial transaction. Yolanda C. Crisanto, spokesman of
PESO exchange rates n US 47.1630
Globe is disappointed that PCC is not considering this transaction in accordance with its own rules.” —Crisanto
Globe Telecom Inc., said her group is puzzled by the Philippine Competition Commission’s (PCC) continuous denial that its coacquisition with PLDT Inc. of San Miguel Corp.’s telco assets falls only under the transitory rules and not on the actual implementing rules and regulations (IRR) of the competition law. “It is quite surprising that the PCC has consistently evaded the issue that this transaction falls under Section 4 of Continued on A2
The hike in the global prices of nickel this year the upside,” Michael Turek, the head of base metals at BGC Partners Inc. in New York, said in an e-mail. Nickel for delivery in three months rose 1.7 percent to settle at $10,760 a metric ton at 5:51 p.m. on the LME, after reaching $10,900, the highest since August 11. Zinc touched a 14-month high, and copper, tin and lead also gained. Aluminum fell. As disruptions to nickel supply start stacking up, a major Chinese steelmaker said it bought its first ore under a contract from New Caledonia, as users seek to tap alternative sources. Tsingshan Holding Group Co. sees nickel ore from New Caledonia as a “ good supplement”to supply from the Philippines, according to Kevin He, vice president of the steel company. The FTSE 350 Mining Index rose 1.8 percent, rebounding from a twoweek low. Vedanta Resources Plc. and Glencore Plc. were among the best performers. Bloomberg News
Cusi still mulling over options on solar-power projects without COE
PCC’s actions puzzling–telcos E By Lorenz S. Marasigan
22%
By Lenie Lectura
@llectura
NERGY Secretary Alfonso G. Cusi continues to assess the agency’s next step in dealing with the solar-power projects that failed to secure a certificate of endorsement (COE) under the second round of the feed-in-tariff (FiT) program. “Yes, we met a group of them. We are still evaluating options for those who didn’t get the FiT,” the Department of Energy (DOE) chief said in a chance interview. He said the agency needs more time before it can announce any development. The DOE recently released the list of solar-power projects that were awarded with COE. Based on the list, 17 solar-power projects, with a combined capacity of 417.05 megawatts (MW), are entitled to receive the subsidized rate of P8.69 per kilowatt-hour (kWh) for 20 See “Solar power,” A2
n japan 0.4458 n UK 62.4202 n HK 6.0812 n CHINA 7.0640 n singapore 34.8066 n australia 35.3487 n EU 52.0066 n SAUDI arabia 12.5765
Source: BSP (22 July 2016 )