BusinessMirror July 28, 2022

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

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

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

quences on the economy.”

See “Omicron,” A2

‘N.G. TO STILL IMPLEMENT NATL GOVT BORROWINGS MAJOR INFRA FOR 10 MOS DIPPROJECTS’ TO P2.75T w w

n

n Thursday, July 28, 293 Monday, November 29,2022 2021Vol.Vol.1717No.No.52

P25.00 P25.00 nationwide nationwide || 22 sections sections 24 20 pages pages ||

By Bernadette D. Nicolas

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Omicron risk spurs revival of quarantine rules in PHL

@BNicolasBM

HE national government’s gross borrowings as of end-October shrank by almost 6 percent year-on-year to P2.75 trillion.

By Samuel P. Medenilla @sam_medenilla

Latest data from the Bureau of the Treasury showed that the government’s gross borrowings during the 10-month period fell by 5.99 percent from P2.92 trillion a year ago.

With only two months left for this year, the latest figure is already equivalent to 89.6 percent of its P3.07-trillion borrowing program.

Broken down, gross domestic borrowings from January to October settled at P2.23 trillion, down by 5.08 percent from P2.35 trillion in 2020.

The bulk of the amount was PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. sourced from Fixed Rate Treasury The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by hero safety Gat Andres on road Tuesday, November 30. ROY DOMINGO TENANTS and workers from various establishments seek alongBonifacio the service short-term borrowings from Bangof Roxas Boulevard in Manila on Wednesday, July 27, 2022, after a 7.0-magnitude ko Sentral ng Pilipinas or BSP (P540 earthquake was feltTreasury in Luzon island, with Abra as epicenter. Photos at top and lower billion), Retail Bonds/Preright show a(P463.3 portion ofbillion), a mountain road blocked by huge rocks as landslides were myorow Bonds Retail reported in the north.

President Marcos, the nation, assured the people Onshore Dollar Bonds (P80.84 addressing bilthat the government is on the ball in responding to the aftermath, adding his support lion). In the same period, there was for renewed calls to set up a Department of Disaster Resilience (DDR). Stories on pagesY. Arcalas

By Jasper Emmanuel dating its registry following the also a net redemption of Treasury NONIE REYES/CONTRIBUTED PHOTOS, MOUNTAIN PROVINCE DRRM OFFICE A2 and A3. @jearcalas enactment of the Coconut FarmBills amounting to P43.94 billion. ers and Industry Trust Fund law.

Net debt redemption means

By Bernadette D. Nicolas @BNicolasBM ORE than 3 million Rosales explained that about there were more debts repaid comcoconut farmers and 500,000 coconut LOOK farmers pared to the amount borrowed durTHE BROADER »A6and workers are now regisworkers were added to the PCA’s ing the period. tered with the government’s reg2018 list that had about 2.5 million Meanwhile, gross foreign boristry, which serves as the basis coconut farmers and farm workers. rowings in the same period also for the number of people to be The PCA’s next step is to concontracted by 9.7 percent to P518.7 covered by the utilization of the duct an exclusion-inclusion probillion from last year’s P574.4 billion.

P75-billion coconut levy fund. cedure by making the updated This was raised through global Philippine Coconut Authority farmers’ registry public, providbonds (P146.17 billion), program (PCA) Deputy Administrator Roel ing everyone the opportunity to loans (P139.98 billion), euro-deM. Rosales said about 3.11 million check the veracity of the list, Ronominated bonds (P121.97 billion), coconut farmers and farm worksales added. a project loan (P86.41 billion), and ers have been registered with the “The list will be posted in public yen-denominated samurai bonds government since it started upspaces where people can easily see (P24.19 billion).

I

NTER NATIONA L concerns over the possible spread of the more infectious Omicron Covid-19 variant prompted the government to reimpose mandatory facility-based quarantine for all arriving passengers in the country.

Acting Presidential spokesperson Karlo B. Nograles announced on Sunday that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) suspended the implementation of its Resolution No. 150A (s.2021), effectively imposing stricter protocols for all inbound travelers.

To note, IATF Resolution 150A had allowed fully vaccinated non-visa travelers from Green List areas to enter the country without the need for facility-based quarantine as long as they secure negative Reverse TranscriptionPolymerase Chain Reaction (RTPCR) test within 72 hours prior to their departure. programs as President Duterte “Except for countries classified is expected to sign the industry as ‘Red,’ the testing and quarantine development plan in early 2022. protocols for all inbound internaRosales said the PCA will not tional travelers in all ports of entry stop updating its list of coconut shall comply with the testing and farmers and enjoined them to regquarantine protocols for ‘Yellow’ ister in order to reap the benefits list countries,” Nograles said, citing of the decades-long idled coconut the provision of IATF Resolution levy fund. “We will not stop at 3.1 No. 151-A. million. We hope that more indiHe noted Hong Kong, which has Bywill Ma.register Stellain F. Arnaldo World Heritage viduals our coconut confirmed a caseSite. of the Omicron @akosistellaBM A former ancestral home, the farmers registry,” he said. variant, will also fall under the YelSpecial to the BusinessMirror Syquia Museum in Vigan The updating of the coconut low listMansion countries. alsoThe suffered a collapsed farmers registry is mandated by suspension of the wall rulesand for HE Unesco World Heritage windows in one side, while Republic Act (RA) 11524 or the “Green List” countries willbricks be in in Vigan, with fell offfrom several ancestral homes Coconutsite Industry Trust along Fund Act. effect November 28, 2021 in to other heritage structures the Vigan Heritage Village, part of See “3-M farmers,” A2 December 15, 2021. in Ilocos Sur and Abra bore the the Unesco World Heritage Site.

Continued on A2 brunt of damage after a 7.0-magT he St. Joh n T he Bapt ist nitude earthquake was recorded on Church in San Juan, Ilocos Sur, 36.2807 n EUmorning, 56.5758 with n SAUDI ARABIArecorded 13.4531 Source: BSP (November 26, 2021) and Wednesday epicendamage to its façade ter pinpointed in Abra. ceiling. Multiple ground faulting Early reports from the Debecame visible in the Santa Ana pa r t ment of Tou r ism (DOT ) Beach Area in Ilocos Sur, a favorindicated that the Vigan Caite tourist spot. t h e d r a l ’s u p p e r f a ç a d e w a s As of press time, there was no damaged, while at the bell and word if the DOT would be assisting some bricks fell at the Bantay in the reconstruction of heritage Bell Tower. The cathedral was structures affected by the earthcompleted in 1800, and being loquake. cated in Vigan, is also a Unesco See “Heritage,” A2

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

HE nationalM govern-

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them. This allows everyone to see who are listed in the registry and if farmer doesn’t see his name then he shall coordinate with the PCA immediately,” he explained at a recent dialogue with coconut farmers.

“On the other hand, if people would see names on the list and they think they are not coconut farmers or their details are incorrect, they can report it to the PCA for immediate action,” he added.

The PCA official noted that the completion of the initial list of coconut farmers registry would be just in time for the expected rollout of coconut levy-funded

ONE NATION UNDERNUTRITION:

WHEN INEQUALITY BRINGS DEATH, ment should still be in MALNUTRITION TO PHL’S DOORSTEPS charge of implementing big-ticket infrastructure projects even as it moves to devolve certain functions to PESO theEXCHANGE local government RATES n US 50.4600 n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n SINGAPORE 36.8968 n AUSTRALIA units (LGUs) to cushion the fiscal impact of the Supreme Court’s Mandanas ruling, the Department of Budget and Management (DBM) said.

See “Borrowings,” A2

Heritage, cultural sites suffer quake damage

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See “N.G.,” A2

PBBM urged to revive unit vs Zero Hunger

By Jasper Emmanuel Y. Arcalas @jearcalas

P

RESIDENT Ferdinand R. Marcos Jr. should revitalize and strengthen the government’s Inter-Agency Task Force against Zero Hunger (IATF-ZH) to improve the country’s fight in ending hunger and malnutrition, an expert said.

Roehlano M. Briones, senior research fellow at the Philippine Institute of Development Studies (PIDS), argued that the IATF-ZH

was a “good” Executive Order (EO) and a step in the right direction in addressing hunger and malnutrition woes.

However, Briones warned that the recent abolition of the Office of the Cabinet Secretary (OCS), which chairs the IATF-ZH, sends a wrong policy message.

“What message are you sending? It is a huge mista ke to abolish the OCS [which affected the IATF-ZH],” he told the BusinessMirror.

PESO EXCHANGE RATES n US 55.6470

See “PBBM,” A2

n JAPAN 0.4064 n UK 66.9656 n HK 7.0895 n CHINA 8.2259 n SINGAPORE 40.0482 n AUSTRALIA 38.6023 n EU 56.3203 n KOREA 0.0425 n SAUDI ARABIA 14.8108 Source: BSP (July 27, 2022)

News

BusinessMirror

A2 Thursday, July 28, 2022

Marcos: Disaster department now needed, expect more calamities

A

By Samuel P. Medenilla

@sam_medenilla

MID the rising threat from more frequent extreme weather incidents, President Ferdinand “Bongbong” R. Marcos Jr. called on Congress to finally pass the bill creating the Department of Disaster Resilience (DDR).

In a press conference on Wednesday as he heard the initial reports from government officials on the aftermath of the big earthquake in Northern Luzon, Marcos was asked if he thought the temblor, which caused great damage in at least two regions, would give more impetus to the bill creating the DDR. He agreed, and said the DDR will help

boost the country’s preparedness, not just from quakes but from the effects of the climate change such the heat wave, which have recently hit North America and Europe and have caused massive forest fires and water shortages “So these are the things that we have to be careful of. We need more capability than we have now,”

N.G....

Continued from A1

Budget Secretary Amenah F. Pangandaman and Finance Secretary Benjamin E. Diokno said they are still reviewing what specific functions and spending items

should be assigned to LGUs. Pangandaman separately told reporters that they will come up with a menu and a transition plan for the devolution of functions.

MARCOS Marcos said.

“We are already experts when it comes to typhoons and we are knowledgeable when it comes to earthquakes, but the dangers—the danger that the effect — the dangers that the effects of climate change present are different, that’s why we need a specialist agency,” he added.

“We’re still reviewing it now, so maybe we’ll present it to DILG [Department of the Interior and Local Government] and the President, and SOF [Secretary of Finance], and Neda [National Economic and Development Authority] within the week,” Pangandaman said in a chance interview with reporters.

In his State of the Nation Address (SONA) last Monday, Marcos stressed the importance of “disaster-proof planning” of communities as the climate change led to rising sea levels and more extreme weather.

“Our planning for the future should include all the mitigation— all the science and the knowledge and the learnings on the mitigation of these kinds of disasters,” Marcos said.

Marcos, however, did not include the bill creating the DDR among his 19 priority legislation, which he announced during his SONA. Former President Rodrigo R. Duterte also pushed for the creation of a similar department during his administration, but the 18th Congress failed to pass its implementing law.

The proposed department would have been more empowered compared to the existing National Disaster Risk Reduction and Management Council (NDRRMC).

Meanwhile, Diokno said at the post-State of the Nation Address economic briefing on Tuesday that they are closely coordinating with the leagues of municipalities, cities, and provinces as well as DILG regarding the devolution of certain functions of the executive branch to local governments.

Under Executive Order No. 138 signed by President Duterte in June last year, the national government shall fully devolve functions, services, and facilities no later than the end of 2024, including those specified under Section 17 of the Republic Act No. 7160 or the Local Government Code of 1991.

Among those that were supposed to be devolved to LGUs under the decades-old Local Government Code are infrastructure facilities intended to service their needs, such as provincial roads, bridges, sewage, flood control; social welfare services, and agricultural support services.

To help poor and disadvantaged LGUs efficiently implement and deliver the functions and services devolved to them, the government appropriated P1.25 billion under the newly established Growth Equity Fund under this year’s national budget.

Of the amount, 70 percent or P875 million will go to concerned municipalities while 10 percent or P125 million each is allocated to provinces, cities, and barangays.

LGUs got t heir respect ive shares from a much bigger total National Tax Allotment (NTA) of P959.04 billion for this year, the start of the implementation of the Mandanas ruling.

This was higher by 37.89 percent or P263.5 billion than the share of LGUs last year at P695.49 billion.

The Supreme Court’s Mandanas ruling expanded the basis for the computation of Internal Revenue Allotment (IRA) to include collections not only of the Bureau of Internal Revenue (BIR) but also the duties collected by the Bureau of Customs (BOC), a part of taxes collected in Bangsamoro Autonomous Region in Muslim Mindanao, taxes from the exploitation of national wealth, excise tax on tobacco products and other taxes provided in the National Internal Revenue Code and franchise taxes.

Despite the continued implementation of Mandanas ruling implementation next year, LGUs are set to receive their shares from a smaller NTA of P820.27 billion, down by 14.47 percent from this year This was based on the collection of national taxes in 2020, the year when the government revenues took a hit due to the pandemic-induced lockdowns.

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PBBM...

Continued from A1

Marcos’s first Executive Order was to abolish the Presidential Anti-Corruption Commission together with the OCS. Marcos argued that the action was aimed at achieving “simplicity, economy, and efficiency in bureaucracy without affecting disruptions in internal management and general governance.”

Under EO 1, the secretariat of the OCS would be absorbed by the Presidential Management Staff.

That decision affected the operations of the IATF-ZH, since it was chaired by the Cabinet Secretary, Briones said. The IATF-ZH was formed by virtue of EO 101 series of 2020 issued by then President Rodrigo Duterte.

Reconvene IATF-ZH

BRIONES proposed that Marcos reconvene the IATF-ZH under his administration as an oversight to the government’s anti-hunger and malnutrition programs.

He recalled that the IATF-ZH’s goals were sidetracked after its creation since the government had to focus on addressing the health and economic impact of the Covid-19 pandemic.

The IATF-ZH was formed in January 2020, a few weeks before the entire country came to a halt due to quarantine measures brought about by the Covid-19 pandemic.

The IATF-ZH was the chief implementor of t he gover nment ’s Nationa l Food Polic y (NFP), a blueprint aimed at ending hunger and malnutrition.

“Let it convene first and start its work towards achieving SDG 2. Its work should be results-based and aimed at improving the hunger and malnutrition situation of the country for the next eight years,” Briones said.

Briones said the Marcos administration should set a long-term target for hunger, as 2030, the year of the achievement of sustainable development goals (SDGs), draws closer.

“The target by 2030 should be as close to zero as possible. Let’s say we target 5 percent to 10 percent from 2022 to 2030,” he said. The SDG 2 targets a worldwide zero hunger by 2030.

Food Security and Nutrition Council

BR IONES a lso proposed that

Marcos consider transforming the current National Nutrition Council (NNC) into a Food Security and Nutrition Council (FSNC), with the President serving as its chairperson.

Marcos’s concurrent capacity as agriculture secretary suits well his chairing of the FSNC, which envisions an integrated and strengthened coordination of food security and nutrition-related government programs.

“That is being done in Indonesia—their FSNC is chaired by the President. The direct chairing by the President informs the whole Cabinet that food security and ending hunger and malnutrition are the top priority of the executive branch,” he said.

“Marcos, as the agriculture secretary, has the opportunity to create honest-to-goodness convergence among government agencies. With his political capital, he can defy public opinion,” he added.

The formation of the FSNC was first floated in a 2017 World Food Programme study conducted by Brain Trust Inc., led by Briones together with Ella Antonio, Cielito Habito, Emma Porio, and Danilo Songco.

“Elevate and strengthen the NNC into a FSNC to highlight the multi-dimensionality of the hunger and malnutrition problem, and the need for integrated approaches,” the WFP study read.

The WFP noted that “global best practices” showed that FSNCs are chaired by the head of the government (President or Prime Minister).

Cor respond ingly, t he W FP study also proposed that the Philippine Plan of Action for Nutrition (PPAN) be expanded and renamed into the Philippine Plan of Action for Food Security and Nutrition (PPAFSN).

“If you are targeting 5 percent stunting among Filipino children then the government must identify what programs from today until next year are needed and how much would they cost,” he said.

“The PPAN falls short. It is not integrated with food security concerns. Inefficient production leads to high food costs which is a major driver of nutrition insecurity,” he added.

Heritage...

Continued from A1

After a 7.2-magnitude earthquake in October 2013 and Supertyphoon Yolanda in November 2013 damaged some 25 heritage churches and other cultural properties in Bohol, Cebu, and Eastern Samar, the Tourism Infrastructure and Enterprise Zone Authority (Tieza) received a P650million subsidy from the Department of Budget and Management for fiscal year 2014, to “handle heritage reconstruction and restoration program” in partnership with the National Museum (NM), National Commission for Culture and the Arts (NCCA), and National Historical Commission of the Philippines (NHCP).

Tieza is the infrastructure arm of the DOT, which under Republic Act 9593 (Tourism Act of 2009), is mandated to “protect all declared

Neda...

heritage sites in coordination with concerned agencies to develop, manage, and supervise tourism infrastructure projects.”

In Abra, the epicenter of the earthquake, damaged tourism sites included the Santa Catalina de Alejandria Parish Church, a 19th century baroque church in Tayum and declared a National Cultural Treasure by the National Museum of the Philippines in 2001; and the San Lorenzo Ruiz Shrine in Bangued, which was completed in 1803.

Two Tieza properties—the Banaue Hotel and Youth Hostel in Ifugao and Mt. Data Hotel—also suffered heavy damage.

Two hotels in Baguio City— the Lafayette Luxury Suites Hotel and Crown Legacy—reported minor cracks in their buildings.

Continued from A16

“We [also] need to enhance the capacity of the PPP center to deliver, to monitor, coordinate agencies.

Once we get the executive director appointed, things will move faster,” Balisacan said.

The PPP Center, one of Neda’s seven attached, is the central coordinating and monitoring agency for

all PPP projects in the Philippines.

It enables implementing agencies in all aspects of project preparation, managing of the Project Development and Monitoring Facility (PDMF), providing projects advisory and facilitation services, monitoring and empowering agencies through various capacity building activities.

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PBBM to visit quake-hit areas once ‘all-clear’ signal is given

By Samuel P. Medenilla @sam_medenilla

P

RESIDENT Ferdinand “Bongbong” R. Marcos Jr. is set to fly to Abra after a magnitude 7.3 earthquake struck the province on Wednesday morning.

At a news conference, Press Secretary Beatrix “Trixie” Cruz-Angeles disclosed Marcos wants to personally check the impact of the quake in the said province.

“He will immediately fly to the area as soon as the all clear is given,” Angeles said.

She added Marcos might also visit other areas, which were devastated by the strong quake.

“He will go to all those areas where it is necessary, that his presence will be necessary,” Angeles said.

The Philippine Institute of Volcanology and Seismology recorded the epicenter of the tectonic quake, which occurred at 8:43 a.m. on Wednesday, in Tayum, Abra.

It damaged several structures and roads in the province, and was felt in several parts of Luzon, including the National Capital Region.

Angeles said Marcos ordered the National Disaster Risk Reduction and Management Council (NDRRMC) and the Department of Social Welfare and Development (DSWD) the immediate deployment of rescue and relief assistance in the province.

“Right now he is focused on disaster relief and response. We are just getting feedback about the extent of the damage in certain areas. So the President will put this as his priority, and most likely might cancel certain appointments,” Angeles said.

The President also appealed to the telecommunication firms to ensure communication channels will remain operational in quake-hit areas.

He may also order for the release of additional funds in the affected areas if there will be a need for it, according to Angeles.

Man dies in Taguig City fluvial parade tragedy

A

FLUVIAL parade in Taguig City on Tuesday ended in tragedy following the collision of two boats that claimed the life of a 30-year-old man and injured six others.

According to the Taguig Public Information Office, the incident occurred at 5:46 p.m. on Tuesday while the fluvial parade, in celebration of the Feast of Sta. Ana and Taguig River Festival, was passing through Tuktukan River in Barangay Tuktukan.

The fatality, initially reported as a missing person after the collision, was identified as Jester Romero, a resident of Barangay Bambang, Taguig.

Romero’s body was recovered under the bridge of Tuktukan River around 6:22 a.m. on Wednesday.

The city government and Sta. Ana Church officials extended their condolences to Jester’s family. They said that they would continue provide assistance to the Romero family.

Not joining the event

TAGUIG City and the Sta. Ana Church, however, said that the two boats that figured in the mishap were not listed participants of the fluvial parade.

“Dalawang bangka na hindi opisyal na kalahok sa Taguig River Festival na kapwa pauwi na ang nagbanggaan at lumubog [Two boats, who were not officially participating in the Taguig River Festival, were on their way home collided],” the joint statement of the Taguig city government and Sta. Ana Church stated.

Editor: Vittorio V. Vitug • Thursday, July 28, 2022 A3

Initial reports show 2 dead, 25 injured after 7.3 temblor jolts Northern Luzon

A

By Rene Acosta

@reneacostaBM

POWERFUL earthquake jolted Abra on Wednesday morning, damaging houses, century-old churches and other structures in the province and in adjoining and other provinces in the Cordilleras and other parts of Northern Luzon.

At least two people were reported killed while scores were injured in the affected areas as reported by local officials although reports of casualties are still being validated disaster control officials.

The temblor, with a magnitude of 7.3, struck near the town of Lagangilang in Abra and was strongly felt in the neighboring provinces of Ilocos Sur, Ilocos Norte and Benguet and in other provinces in the Cordillera Administrative Region and Region 1.

The National Disaster Risk Reduction and Management Council (NDRRMC) held an emergency meeting following the quake, which was also felt in Metro Manila and was continuing to record aftershocks in the affected areas.

The government mobilized its response, with officials of the Department of Social Welfare and

Development flying to Abra and other areas while the Philippine Air Force flew aerial inspections in Northern Luzon.

Most of the affected areas, including coastal villages and towns in Ilocos Sur, La Union and Pangasinan due to fear of tsunamis, have shut down their communication and power lines.

Work suspensions were also imposed in some of the affected towns and provinces, especially in Abra.

The NDRRMC initially reported one death in La Trinidad, Benguet, while initial reports on damages coming from local officials showed widespread damage in Abra and Ilocos region, especially on houses and old buildings, including historic churches and hospitals.

The NDRRMC also reported damaged roads and cases of landslides in Abra and Benguet, shut-

Binay orders inspection of buildings in Makati

F

OLLOWING the magnitude 7.3 earthquake that struck Northern Luzon and Metro Manila, Makati City Mayor Abigail Binay ordered all building administrators to conduct thorough inspection on buildings and structures in the city.

“We are thankful that no major damage or casualties have been reported as a result of today’s strong earthquake. However, we need to conduct thorough inspections to assess the integrity of our commercial and residential buildings, malls, and other structures all over the city,” Binay said.

The building administrators were also instructed to submit a report on the condition of their buildings within 24 hours.

Binay said that the city government would provide assistance to building owners and occupants if needed.

“I would like to commend our employees and students for remaining calm and clear-headed throughout the earthquake. They calmly exited the buildings and proceeded to the evacuation area in teams exactly as we had practiced during our earthquake drills,” Binay said adding that such is a clear indication “Makatizens are mentally and physically prepared to handle emergency situations like this.”

At the City Hall, 2,497 city government employees evacuated from the old building as well as Buildings 1 and 2 after the quake.

The employees waited until all buildings at the City Hall compound were declared safe by the Department of Public Works and Highways (DPWH) after a rapid visual assessment from engineers and building inspectors.

The three City Hall buildings, University of Makati, Bakuna Makati sites and Ospital ng Makati have already resumed operations after no major damages were reported. The DPWH deemed the buildings are safe to occupy for work.

The city government of Makati, University of Makati, and Ospital

ng Makati resumed operations at around 10 a.m., Wednesday.

Public school students, on the other hand, were sent home after remedial classes were suspended.

Binay decided it would be safer for students to stay at home in the event of aftershocks.

In 2018, the city distributed emergency go bags and hard hats to public school students to promote disaster preparedness and awareness.

The city government also conducted several earthquake and fire drills in different schools and buildings to ensure that everyone knows what to do during an emergency.

Line trip

A TRANSMISSION line in La Union tripped on Wednesday morning, following the 7.3-magnitude earthquake that occurred in Lagangilang, Abra.

The National Grid Corporation of the Philippines (NGCP) said it is currently implementing restoration works for the remaining BacnotanBulala 69kV line in La Union, which tripped at 8:44 a.m.

The earthquake caused power interruptions affecting the franchise area of LUELCO (La Union Electric Cooperative). Power interruptions were also experienced in parts of Pangasinan, Benguet, Tarlac, and Abra but affected lines were immediately restored.

The Department of Energy (DOE) said a number of electric cooperatives (ECs) experienced power interruption. These are ABRECO (Abra Electric Cooperative), MOPRECO (Mt. Province Electric Cooperative), BENECO (Benguet Electric Cooperative), Ilocos Norte Electric Cooperative (INEC), CENPELCO (Central Pangasinan Electric Cooperative), and PANELCO III (Pangasinan Electric Cooperative).

The DOE said all lines and facilities serving the National Capital Region are normal. The Manila Electric Company reported two tripping incidents of Malolos 13.8 kilovolt circuits but these were reclosed successfully.

Claudeth Mocon-Ciriaco and Lenie Lectura

ting off traffic.

In Abra, Vice Governor Joy Bernos told radio station DZBB in Manila that a 25-year-old man died in the capital town of Bangued after he was pinned by debris inside his house. Twenty-five others were also reported injured.

Bernos said 25 people also evacuated in the Municipality of Villa Viciosa, while residents in other parts of the province have set up temporary shelters in open areas for fear that aftershocks would collapse their homes.

She said they were not also recommending to residents to seek shelters in government-erected evacuation centers because these were made of concrete and have incurred damages following the quake.

The municipality of Manabo was isolated after the key road leading into the town was blocked by debris due to a landslide.

Bernos said houses, buildings and churches were damaged, including in the town of Lagangilang, as also confirmed by its acting chief of police, Lt. Boy Kis-ing.

Department of Agrarian Reform (DAR) Provincial Agrarian Reform Program Officer Christian Castillejos Saguitan, in a message relayed to the DAR Central Office, said they are now coordinating with the building owner where DAR La Union Office is situated as well as the local NDRRMC office in the province to check on the building

following the quake as soon as possible.

“If it is certified as safe, then we go back to work. Until we get that from any authorized entity, all work is suspended for DAR La Union,” she said.

At the same time, Saguitan said employees of DAR whose homes were damaged or need help in any way are advised to get in touch with the DAR through their official group chat.

According to the Philippine Institute of Volcanology and Seismology (Phivolcs), the earthquake was recorded at exactly 8:43 a.m. with epicenter 2 kilometers northeast of Lagangilang, Abra.

The earthquake was strongly felt in the National Capital Region (NCR), and nearby provinces. Phivolcs said Intensity IV was felt in Quezon City.

Phivolcs said they expect the earthquake to cause damages and cautioned the public against expected aftershocks that may occur.

Abra Rep. Ching Bernos, in a news statement, said “I urge everyone to stay alert and to prioritize safety in light of the possibilities of aftershocks that might be felt after that strong earthquake. We are monitoring the situation on the ground and gathering information on the extent of the damage to the Province. My office is also actively coordinating with proper authorities on what can be done to assist families and communities that were severely affected by this earthquake.”

PNP PIO chief Brig. Gen Roderick Augustus Balba said the PNP is currently collating information on the ground from areas hardly hit by the earthquake.

“We will soon release our assessment. As of now, our priority is to respond to various reports regarding those individuals who are affected by the effects of the strong quake. Coordination is also being made with other frontline government agencies and responders who are on top of the situation,” he said.

Gordon alerts PRC chapters

PHILIPPINE Red Cross (PRC) Chairman Richard Gordon on Wednesday directed all PRC chapters to be on stand-by following a powerful earthquake that shook parts of Luzon, including Metro Manila.

Gordon also asked the chapters to perform assessments within their areas of responsibility following the big earthquake.

The PRC said that several houses and infrastructures in different locations are severely damaged after the earthquake.

Gordon also urged all affected local government units and the Department of Public Works and Highways to assess damages and the safety of buildings and structures to ensure the safety of all.

The PRC also reminded the quakehit areas to stay alert and vigilant for any aftershocks. With Jonathan L. Mayuga and

A4 Thursday, July 28, 2022 • Editor: Vittorio V. Vitug

Economy BusinessMirror

PCC assures level playing field in local pharmaceutical market T

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DTI-BPS adopts ULSE benchmark on electrical wiring devices as PNS

By Andrea San Juan

T

HE Philippine Competition Commission (PCC), in compliance with President Ferdinand “Bongbong” R. Marcos Jr.’s directive, has vowed to ensure fair competition in the pharmaceutical market.

In his first State of the Nation Address on Monday, the President ordered the country’s competition watchdog to ensure fair competition when it comes to prices of medicines.

“Inuutusan ko naman ang Philippine Competition Commission na pantay-pantay dapat at walang kartel sa hanay ng mga pharmaceutical companies. Dahil kapag bukas ang merkado, bababa ang presyo ng gamot para mapakinabangan ng ating mamamayan,” Marcos enunciated in his first address to the nation on Monday.

With this, the PCC, in a news statement issued on Tuesday, affirmed its “commitment to enforce its mandate of cracking down on cartels

and abusive conduct across different industries, including the pharmaceutical sector.”

It is worth noting that the Philippines is known to have one of the highest costs of medicines in Asia. The competition watchdog stressed that the production of unbranded generic medicines lags behind, even relative to other developing countries.

“Thus from its inception, the PCC has been advocating measures that will eliminate barriers to the entry and viability of generic medicines manufacturers in the country,” said PCC’s Officer in Charge Chairperson Atty. Johannes R. Bernabe.

He also mentioned that the competition watchdog already has existing efforts to combat anti-competitive practices.

Moreover, Bernabe said, “the Commission has been consistently monitoring and looking into curtailing possible anti-competitive situations, including cartels, that may exist in the different segments of the supply chain

of pharmaceutical products.”

However, with the President’s call to achieve a level playing field and fair competition in the pharmaceutical industry, the PCC will further intensify its efforts in addressing issues in the said sector on top of its current efforts.

Former PCC Chairman Arsenio M. Balisacan, in the Commission’s 2021 Annual Report, highlighted that risks of anticompetitive behavior persist, including anticompetitive mergers and acquisitions, cartel activities, and abuses of dominance.

With this, he said that as the country continues to face the challenges of the pandemic and rebuild, the PCC commits to the removal of anticompetitive practices that derail the recovery process.

The competition watchdog has always vowed to ramp up its enforcement activities to investigate markets in priority sectors, monitor complaints, and address consumer and stakeholder queries.

HE Department of Trade and Industry’s Bureau of Philippine Standards (DTI-BPS) has recently adopted and promulgated three international standards on electrical wiring devices as Philippine National Standards (PNS).

Following the collaboration and licensing agreement between the DTIBPS and the UL Standards and Engagement (ULSE) last November 2020, the DTI-BPS has adopted the three international standards including the PNS UL 248-1:2021-Low-Voltage Fuses-Part 1: General Requirements.

A not her stand ard is PNS UL 248-6:2021-Low-Voltage Fuses-Part 6: Class H Non-Renewable Fuses. The third international standard is PNS UL 67:2021-Panelboard.

The standards were the result of the collaboration of experts both from the BPS/Technical Committee (TC) 10 and ULSE, on electrical wiring devices.

As the National Standards Body, the DTI-BPS is responsible for the development and promotion of PNS as well as the nation’s participation in the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC).

The ULSE, on the other hand, is a global safety science leader dedicated to making products safer, more secure, and more sustainable through the discovery and application of scientific knowledge.

The BPS and ULSE work hand in hand and focus on sectors to support national priorities ranging from electrical appliances, electric vehicles, advanced manufacturing, fire safety, and batteries to ultimately establish standards that will

direct the safety, performance, and sustainability of advancing technologies.

“The continuous pursuit for harmonization with our international counterparts is one of the key contributors to the success of our standards development and conformity assessment activities,” said BPS Director Neil Catajay.

“Through our agreement with ULSE, the BPS was able to develop standards beneficial to our stakeholders, such as manufacturers, distributors, electrical designers, electricity generators/distributors, as well as the consumers, among others,” added Catajay.

The Bureau of Philippine Standards’ chief said these standards establish common guidelines on the basic properties of electrical wiring devices and electrical work practices for the safer use of electricity in order to safeguard people and properties from electrical hazards.

At a virtual meeting, Phil Piquiera, UL Standards and Engagement Vice President of Global Standards, said “Through the BPS-ULSE partnership’s regular dialogues and exchanges of technical knowledge about UL standards, we encourage awareness and guide the safety and performance of the application and installation of electrical wiring devices.”

For his part, BPS/TC 10 Chairman Engr.

Gem Tan of the Institute of Integrated Electrical Engineers of the Philippines, Inc. underscored that the “BPS” collaboration with ULSE opened an opportunity for us to look into different UL standards and helped us in clarifying differences between the requirements of UL and IEC standards which eventually allowed us to incorporate the most appropriate parameters necessary.” Andrea San Juan

Trade dept launches ACCP for online dispute resolution, buyer protection

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SEAN consumers can now access the Learning Management System, which offers modules on consumer protection to raise public awareness and vigilance across the 10 Asean member-states (AMS), to enable better understanding of consumer issues and disputes, according to the Department of Trade and Industry (DTI).

“With these developments, consumers and all stakeholders in the Asean Region are encouraged to access and fully utilize these tools, as well as disseminate the information among their families, friends and colleagues,” DTI Consumer Protection Group Undersecretary Ruth B. Castelo said in a news statement issued on Tuesday.

Another Asean Committee on Consumer Protection (ACCP) is the development of the Asean Sustainable Consumption Toolkit (SCT) consisting of five modules, which promotes Sustainable Consumption and Production. The availability of this toolkit in the ACCP web site is set on August 2022.

During the ACCP’s Thematic Session on the Dispute Resolution in Asean, the DTI, through its Consumer Policy and Advocacy Bureau (CPAB), presented the Philippine Online Dispute Resolution System (PODRS) Pilot Project, or the DTI Consumer Complaints and Assistance

Resolution (CARe) System.

For his part, DTI-CPAB Director Atty.

M. Marcus N. Valdez II explained, “The system will automate and harmonize the entire government complaints handling process with the end goal of interlinking all the member agencies of the Consumer Network [ConsumerNet], or the group of government departments with consumer protection functions.”

The trade department has begun the pilot testing of the Philippine Online Dispute Resolution System (PODRS) in 2021 with the help of the United States Agency for International Development (USAID) and University of the Philippines Public Administration Research and Extension Services Foundation Inc. (UPPAF).

Castelo emphasized in April during the first day of the United Nations Conference on Trade and Development (Unctad) eCommerce week that they have been planning for the PODRS since 2019, the moment it was brought up in the Asean Committee on Consumer Protection.

However, the onset of the Covid-19 pandemic delayed the process.

At the height of the pandemic, the trade department noted that consumer complaints rose substantially amid the increase in online shopping as some consumers avoided physical stores. Andrea San Juan

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

The World

Biden, Xi to hold talks amid new tensions over Taiwan

By Aamer Madhani & Chris Megerian The Associated Press

W

ASHINGTON—Presidents Joe Biden and Xi Jinping will speak on Thursday, according to a US official, their first conversation in four months coming amid new tension between Washington and Beijing over China’s claims on Taiwan.

The planned talks between the two leaders—the fifth in a series of regular checkins—have been in the works for weeks. But the possibility of a visit to Taiwan by House Speaker Nancy Pelosi, the top congressional Democrat and second in line of succession to the presidency, has added fresh strain to the complicated relationship.

Beijing is warning that it will take “forceful measures” should Pelosi visit the self-ruled island of Taiwan that China claims as part of its territory.

The US official declined to be identified ahead of the public announcement. The schedule was first reported by Bloomberg.

Pelosi hasn’t confirmed plans to visit Taiwan, but Biden last week told reporters that US military officials believed it was “not a good idea” for the speaker to visit the island at the moment. Biden’s comments came after the Financial Times reported last week that Pelosi planned to visit Taiwan in August, a trip she had originally planned to make in April but postponed after she tested positive for Covid-19.

The speaker has declined to comment on whether she plans to visit Taiwan, citing security protocol on her travel. But she said Biden’s comment stemmed from military brass being “afraid our plane would get shot down, or something like that, by the Chinese.” She would be the highest-ranking US elected official to visit Taiwan since Republican Newt Gingrich visited the island in 1997 when he served as House speaker.

“It’s important for us to show support for Taiwan,” Pelosi said. “None of us have ever said we’re for independence when it comes to Taiwan. That’s up to Taiwan to decide.”

Administration officials have privately stressed to Pelosi that traveling to Taiwan could further complicate a delicate status quo.

Chinese officials aren’t mincing words, sending a message that a visit by Pelosi would be viewed as a change in US policy and treated as a provocation.

“If the US insists on going its own way, China will take forceful measures to resolutely respond and counter it, and we will do what we say,” said Chinese Foreign Ministry spokesperson Wang Wenbin.

The US has a longstanding commitment to the “One China” policy that recognizes Beijing as the government of China but allows informal relations and defense ties with Taipei.

China has stepped up its military provocations against Taiwan in recent years, and there are

fears that it’s trying to intimidate the island into accepting Beijing’s demands to unify with the communist mainland.

The talks between Biden and Xi could also include discussion of North Korea’s nuclear program, differences between Beijing and Washington over Russia’s war in Ukraine, efforts by the Biden administration to revive the Iran nuclear deal and the status of the US administration’s review of tough tariffs imposed on China by the Trump administration.

“There are issues of tension in this relationship,” John Kirby, a national security spokesperson for the White House, said Tuesday. “But there’s also issues where we believe cooperation is not only possible, but mandatory, for instance on climate change, which affects us greatly.”

Long-simmering differences over Taiwan have come into intense focus in the aftermath of Russia’s invasion and ongoing efforts to annex swaths of eastern Ukraine.

As the US scrambled to assemble a global coalition to hit the Russian economy with heavy sanctions following Vladimir Putin’s ordered invasion of Ukraine, Biden warned allies— particularly those in the Indo-Pacific—that Beijing would be watching closely how democracies responded as it considers its next steps on Taiwan.

White House national security adviser Jake Sullivan said Friday he fears that Beijing might be gleaning some “concerning” takeaways from the five-month-old war in eastern Europe. But he suggested the moment has also led to careful reflection in Taipei.

“Not as many people ask ‘Is Taiwan learning lessons from Ukraine?’ and you can bet they are,” Sullivan said during an appearance at the Aspen Security Forum. “They’re learning lessons about citizen mobilization and territorial defense. They’re learning lessons about information warfare, and how to set the information space. And they’re learning lessons about how to prepare for a potential contingency involving China and they’re working rapidly at that.”

Taiwan was a central topic during Biden and Xi’s last call in March, about three weeks after Russia launched its invasion of Ukraine.

China has repeatedly threatened to assert its claim to Taiwan by force, and has dispatched hundreds of sorties in Taiwanese airspace since Biden took office 18 months ago. The US is legally obligated to ensure the self-governing island democracy can defend itself and treats threats to it with grave concern.

The conversation also comes as Biden’s national security and economic aides near the completion of a review of US tariff policy and prepare to make recommendations to the president.

The tariffs imposed under President Donald Trump applied a 25 percent duty on billions of dollars of Chinese products. The penalties were intended to reduce the US trade deficit and force China to adopt fairer practices.

15 killed, 50 injured in anti-UN demonstrations in Congo’s east

By Jean-Yves Kamale The Associated Press

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INSHASA, Congo—At least 15 people were killed and dozens of others injured during two days of demonstrations in Congo’s east against the United Nations mission in the country, officials said Tuesday.

The United Nations said one peacekeeper from Morocco and two international policemen from India serving with the UN peacekeeping force were slain and a policeman from Egypt was injured at the UN base in Butembo in North Kivu province when “violent attackers snatched weapons from Congolese police” and fired on UN personnel.

UN Secretary-General Antonio Guterres strongly condemned the Butembo attack and violence targeting multiple UN bases across North Kivu since Monday, UN deputy spokesman Farhan Haq said.

Haq said that on Tuesday “hundreds of assailants” attacked bases of the UN force in Goma and other parts of North Kivu, “fueled by hostile remarks and threats made by individuals and groups against the UN., particularly on social media.’”

“Mobs are throwing stones and petrol bombs, breaking into bases, looting and

vandalizing, and setting facilities on fire,” Haq said. “We are trying to calm things down” including by dispatching quick reaction forces but there is no evidence the violence has ended.

In addition, Haq said at least four incidents targeted the residences of mission staff, who have now been relocated to UN camps. A mob also tried to enter the compound of the UN Development Program Tuesday but was repelled by security guards, he said.

Demonstrators on Monday set fires and forced entry into the UN mission offices in Goma, accusing the peacekeeping force of failing to protect civilians amid rising violence in Congo’s eastern region. They are calling for the UN forces, present in Congo for years, to leave.

Congo’s police said at least six people were killed in Goma on Monday, and eight civilians in Butembo. Earlier, government spokesman Patrick Muyaya said at least five people were killed and about 50 wounded by Monday.

Protesters blamed shots fired by the peacekeepers for the deaths.

The secretary-general “regrets the loss of life of demonstrators” and affirms the UN peacekeeping mission’s commitment to work with Congolese authorities to

BusinessMirror

Thursday, July 28, 2022

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Fed hike will intensify market risks for Asian central banks

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By Marcus Wong

HE expected 75 basis points interest rate increase from the Federal Reserve this week will heap pressure on its Asian counterparts to speed up monetary tightening—or risk further fund outflows and weaker currencies.

An analysis of policy rates in Asia Pacific versus their five-year averages shows a high degree of vulnerability across the region, as does an examination of interest rates adjusted for inflation, and yield spreads versus US Treasuries.

The level of threat varies considerably, with the most danger for markets like Thailand, where the central bank has kept rates at a record low. South Korea and New Zealand, which moved early to front load hikes, are better placed but not immune to trouble.

Recent tightening announcements from unscheduled meetings of the Monetary Authority of Singapore and the Bangko Sentral ng Pilipinas indicate that Asia’s central banks are susceptible to making rapid readjustments as inf lation bites harder than expected.

How the pressure is building on the region’s policy makers to normalize their benchmark rates:

Smaller cushion

A 75 BASIS points hike by the Fed would narrow Indonesia’s policyrate buffer versus the US to just one percentage point, which is more than five standard deviations below the five-year average gap of 3.3 percentage points. The same gauge for Thailand stands at 4 standard deviations. Narrowing rate differentials with the US have fueled net bond outflows from Thailand, Indonesia and Malaysia since early June.

Central banks such as in Australia and South Korea, which have been quicker to increase rates, have buffers that are closer to their five-year averages. New Zealand is the only country in the region where the buffer will still be bigger than the five-year average after a 75 basis points Fed move.

Inflation impact

WHILE some Asian central banks have been aggressive in trying to

THE Federal Reserve building. A Fed hike this week will heap pressure on its Asian counterparts to speed up monetary tightening or risk further fund outflows and weaker currencies.

BLOOMBERG PHOTO

head off price gains, policy rates adjusted for most recent monthly inflation figures are still below the five-year averages and in negative territory for many markets in the region.

Inf lation has r isen to the highest in 23 years in South Korea, 21 years in Australia and 14 years in Thailand. And the worst may not be over as elevated commodity prices and supply-chain disruptions continue to drive up import costs.

On the flip side, inflation in India may begin to moderate due to monsoon rains progressing well for agriculture, which may ease pressure on rate hikes, according to Credit Suisse Wealth Management.

Bond blues

THE allure of Southeast Asian bonds is at a low ebb as measured in the spread their yields offer over

Treasuries. Malaysia’s 10-year government bonds are more than one standard deviation below the five-year average gap.

The spread is also tighter in T hai, Indian and Indonesian bonds. As such, central banks in these countries may need to accelerate the pace of policy tightening to push up yields to curb outflows and headwinds for their currencies.

More rapid rate hikes from South Korea, New Zealand and Australia have supported yields, resulting in a more attractive spread to the US. The analysis excludes the central banks of Japan and China.

The Bank of Japan is committed to its negative rate and yieldcurve control policy, while the People’s Bank of China is providing ample liquidity as the economy struggles with a Covid-Zero policy. Bloomberg News

Japan, Indonesia to boost naval security ties as China rises

By Mari Yamaguchi The Associated Press

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OKYO—The leaders of Japan and Indonesia agreed Wednesday to bolster their ties in maritime security and their cooperation on climate change, energy and investment between the Asian archipelago nations.

Japanese Prime Minister Fumio Kishida, at a joint news conference after holding talks with Indonesian President Joko Widodo in Tokyo, said Japan will provide support to “further reinforce Indonesian maritime security capability to ensure peace and safety at sea in the Indo-Pacific region.”

investigate these incidents, Haq said.

Guterres underscored that any attack directed at UN peacekeepers might constitute a war crime and called on Congolese authorities to swiftly investigate the killings and bring those responsible to justice, the spokesman said.

Congo’s mineral-rich east is home to myriad rebel groups and the region’s security has worsened despite a year of emergency operations by a joint force of the armies of Congo and Uganda. Civilians in the east have also had to deal with violence from jihadi rebels linked to the Islamic State group.

The government spokesman didn’t say what caused the deaths but on Twitter, he described the response by security forces and peacekeepers as “warning shots to disperse the demonstrators and prevent any attack” on UN installations.

“The government has instructed the security forces to take all measures to ensure a return to calm and the normal resumption of activities in Goma,” he said. He also reiterated that steps are already being taken for the peacekeeping forces to be withdrawn.

In June 2021 and June 2022, the peacekeeping mission closed its office in Congo’s Kasai Central and Tanganyika regions. The mission has more than 16,000 uniformed personnel in Congo, according to the UN.

AP writers Edith M. Lederer at the United Nations and Al-Hadji Kudra Maliro in Beni, Congo, contributed to this report.

Kishida also announced that Tokyo is loaning 43.6 billion yen ($318 million) to fund Indonesian infrastructure projects and disaster prevention.

Widodo’s Japan visit follows his trip to China, where he met with Chinese President Xi Jinping and formally invited him to the Group of 20 summit in Bali in the fall. The two leaders on Tuesday also discussed issues ranging from trade to maritime cooperation.

While Indonesia and China enjoy generally positive ties, Jakarta has expressed concern about Chinese encroachment on its exclusive economic zone in the South China Sea, which China claims virtually in its entirety.

Widodo’ comments in Tokyo focused on

investment, energy and the G-20 summit.

Widodo welcomed new Japanese investments and asked for Japan’s support in new technology involving clean energy, infrastructure, medicine, agriculture and natural resources.

“In particular, I invite Japan to support the acceleration of Indonesia’s net zero emission target through advocating innovative technologies such as hydrogen and ammonia technology,” he said.

Japan is promoting mixing hydrogen and ammonia at coal-fired power plants as a way to lower emissions.

Also, Kishida said Japan is researching whether it can provide Japanese patrol vessels for Indonesia to build its maritime capabilities.

Japan’s Ground Self-Defense Force is participating for the first time in the Garuda Shield multilateral training exercise hosted by Indonesia next month, Kishida said. The US is also joining the exercise.

While Japan promotes a “free and open” Indo-Pacific vision of security and trade with the United States and other democracies and friendly nations in the region that share concern about China’s increasing assertiveness, the two leaders did not mention the country by name.

Widodo said Indonesia, as the chair of the Association of the Southeast Asian Nations next year and Japan as the chair of the Group of 7 summit, will continue to cooperate for the peace and prosperity in the region and the world.

Over 1,000 Lufthansa flights canceled as staff strikes

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ERLIN—More than 1,000 Lufthansa flights were canceled Wednesday because of a one-day strike by the airline’s German ground staff, affecting tens of thousands of passengers in the latest travel turmoil to hit Europe.

About 134,000 passengers had to change their travel plans or cancel them altogether.

At least 47 connections had already been canceled on Tuesday, German news agency dpa reported.

Lufthansa’s main hubs in Frankfurt and Munich were most affected, but flights were also canceled in Duesseldorf, Hamburg, Berlin, Bremen, Hannover, Stuttgart and Cologne.

The airline advised affected passengers not to come to the airports because most of the counters there would not be staffed anyway.

The ver.di service workers’ union announced the strike on Monday as it seeks to raise pressure on Lufthansa in negotiations on pay for about 20,000 employees of logistical, technical and cargo subsidiaries of the airline.

The walkout comes at a time when airports in Germany and across Europe already are seeing disruption and long lines for security checks because of staff shortages and soaring travel demand.

As inflation soars, strikes for higher pay by airport crews in France and Scandinavian Airlines pilots in Sweden,

EMPTY Lufthansa check in counters are pictured at the international airport in Frankfurt, Germany, on Wednesday, July 27, 2022. Lufthansa went for a 24-hour strike on Wednesday, most of the Lufthansa flights had to be canceled. AP/MICHAEL PROBST Norway and Denmark have deepened the chaos for travelers who have faced lastminute cancellations, lengthy delays, lost luggage or long waits for bags in airports across Europe.

Travel is booming this summer after two years of Covid-19 restrictions, swamping airlines and airports that don’t have enough workers after pandemic-era layoffs. Airports like London’s Heathrow and Amsterdam’s Schiphol have limited daily flights or passenger numbers.

The Lufthansa strike started early Wednesday at 3:45 a.m. local time and is

set to end early Thursday. Such “warning strikes” are a common tactic in German labor negotiations and typically last from several hours to a day or two.

Ver.di is calling for a 9.5 percent pay increase this year and says an offer by Lufthansa earlier this month, which would involve a deal for an 18-month period, falls far short of its demands.

Lufthansa’s chief personnel officer, Michael Niggemann, argued that “this socalled warning strike in the middle of the peak summer travel season is simply no longer proportionate.”

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TheBroaderLook BusinessMirror

Thursday, July 28, 2022

www.businessmirror.com.ph

One Nation Undernutrition: When inequality

By Jasper Emmanuel Y. Arcalas @jearcalas & Cai U. Ordinario @caiordinario

Reporters

Reine Juvierre Alberto, Eunice Claire Pasquin, Marymon Frances Reyes & Stephanie Rimas

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University of Santo Tomas, Interns

IGURES could be scandalous, sometimes; especially when they reveal that some Filipinos die of starvation—yes, directly from starvation—in the new Millennium.

Based on data obtained by the BusinessMirror, starvation has killed 355 Filipinos between 2006 and 2020. At least 90.14 percent of these deaths, or a total of 320, happened just in a span of four years: between 2017 and 2020.

While there were years—2014 and 2016—when no deaths due to starvation were recorded, the years 2017 to 2019 saw exponential growth in starvation deaths. In 2017, there were 106 fatalities due to starvation; in 2018, 103; and, in 2019, 99 died of hunger.

However, Monetary Board Member Victor Bruce J. Tolentino told the BusinessMirror reporters that he was willing to bet that deaths caused by starvation still happen in advanced countries. This may be because starvation is not only a result of the inability to purchase food, but also access to social services.

“We don’t want to see it grow here and it is not then only a question of access to food, it might also be the appropriate social services.

For those who are really in desperate straits. It may be that starvation is already the last step after you lose your job, after you don’t have relatives or friends who can help, after you cannot gain entry to a convent that’s a haven for the hungry, after you lose access to any facility, hospital or DSWD (Department of Social Welfare and Development)—you have been left entirely in the streets, or something like that,” he explained, partly in Filipino.

Hungry Filipinos

IRONICALLY, those who died of starvation could be envied by the living still struggling from hunger.

The number of Filipinos suffering from moderate or severe food insecurity (hunger) by the end 2021 was at 48.8 million. It’s a figure that Former Agriculture Undersecretary Fermin D. Adriano described as “scandalous.” Of the total figure, about 5.3 million Filipinos experienced severe food insecurity.

“The number of food insecure in the country is more than the population of Australia (26 million),

Canada (35 million), Malaysia (30 million), and most of the countries in the world,” Adriano said.

“If this happened in developed countries, it will be enough to replace the sitting government. But we are not a developed country and, hence, our policymakers can get away with a crime,” he added.

Roehlano M. Briones, senior research fellow at Philippine Institute for Development Studies, agreed with Adriano’s observation. For him, the number of Filipinos experiencing hunger is already a “grave emergency.”

“This is a grave crisis. And the worst indicator—which is more worrisome—is suffered by the most vulnerable: stunting,” Briones told the BusinessMirror.

The State of Food Security and Nutrition in the World 2022 (SOFI) report explained that people who experienced severe food insecurity are those that have “likely run out of food, experienced hunger and, at the most extreme, gone for days without eating, putting their health and well-being at grave risk.”

Meanwhile, moderate food insecurity refers to “a lack of consistent access to food, which diminishes dietary quality, disrupts normal eating patterns, and can have negative consequences for nutrition, health and well-being” of the consumers, according to the report.

Underlying cause

PHYSICIAN Oliver D. Lacambra told the BusinessMirror that the cases of people with starvation as the underlying cause of death are “very, very rare.”

“In my practice in the province, I have encountered just one case of death from starvation: an elderly living alone,” said Lacambra, who works at the Apayao Cagayan Medical Center in Abulog, Cagayan.

Lacambra, who has been practicing medicine and worked in various hospitals since 1999, said deaths from starvation could be due to multiple organ failures or severe infections “because the body’s immune system becomes low or weak.”

“The body will become thin,

emaciated, wasted.”

Lacambra explained that death comes after “days or weeks.”

It all depends “on the remaining stores of energy in the body,” he said.

“Fats and proteins are converted to glucose. When starvation is prolonged and these (fats/proteins) are depleted, death is imminent.”

According to the physician, a hospital staff presented with a case of death with starvation as possible “underlying cause” usually gathers additional data.

“Additional and further information is elicited from relatives. The cause of starvation is determined whether the patient is intentionally deprived of food, etc.,” Lacambra told the BusinessMirror.

She added that if the cause of starvation is suspicious in nature, the hospital will report it to the Department of Social Welfare and Development and the police.

“The cause of death is categorized according to: first, immediate cause of death (usually sepsis, organ failures); second, underlying cause of death (starvation if proven); and, third, contributory,” Lacambra said adding that the latter are any illnesses that may have contributed to the death of the patient.

Nutrition deficiency

MEANWHILE, millions of Filipinos also suffer deaths caused by poor nutrition.

Malnutrition deaths, National Statistician Claire Dennis S. Mapa said, cover those caused by diseases such as kwashiorkor (edema); nutritional marasmus (thinness); marasmic kwashiorkor; and, unspecified severe protein-energy malnutrition.

Malnutrition deaths also covers deaths caused by protein-energy malnutrition of moderate and mild degree; retarded development following protein-energy malnutrition; and unspecified protein-energy malnurition.

“Malnutrition is the condition that develops when the body is deprived of vitamins, minerals and other nutrients it needs to maintain healthy tissues and organ function. Malnutrition occurs in people who are either undernourished or overnourished,” a PSA official earlier told the BusinessMirror.

Based on PSA data, deaths caused by malnutrition surged 123 percent between 2015 when there were 2,803 Filipinos who died of malnutrition, and 2021 when the deaths reached 6,263.

The deaths caused by poor nutrition in 2021 were the highest on record in the six-year period. The data showed that since 2015, deaths caused by malnutrition have not exceeded 4,000 annually.

In the first three months of 2022, however, ma lnutr ition deaths declined by 36.5 percent.

PSA data showed that between January and March 2022, some 800 Filipinos died of malnutrition compared to 1,260 recorded in the same period last year.

However, despite the decline in the number of malnutrition deaths, data showed that it was the 20th top cause of death in the country in 2022 from 25th place in 2021.

GDP not felt

TOLENTINO said hunger and poor nutrition, as much as they are affected by access and availability to nutritious food, are also a symptom of a deeper problem in society, that of inequality.

He said that while it was true that the years 2017, 2018, and 2019 saw the economy growing above six percent annually, high growth in itself was not a guarantee that people will not grow hungry. GDP growth in 2017 averaged 6.9 percent

and during the year, even posted a quarterly growth of 7.2 percent in the second quarter and 7.5 in the third quarter.

GDP growth in 2018 averaged 6.3 percent with the highest quarterly growth reaching 6.5 percent in the first quarter. The year before the pandemic, 2019, the economy grew 6.1 percent with the last quarter of the year posting a growth of 6.6 percent.

Given this high growth, to the layman it seemed impossible to think that there were over and nearly 100 people who died of starvation in these years. Tolentino said it is not impossible at all, given that growth may not have trickled down to the poorest Filipinos. “(GDP) is a very broad number and a very broad experience but it does not really address income distribution concerns. We still have a lot of poor people and poor people who don’t have jobs and it is among the poor who are jobless that starvation would happen,” Tolentino said.

Expensive food

APART from the inequality, incomes in the Philippines have not really kept up with the rise in prices. Tolentino said any time incomes fall short of what is needed by families, there is a tendency for them to cut back on certain items.

Tolentino said these items include non-food needs that allow them to be productive and earn incomes as well as cheaper sources of nutrition. He said the recent spike in wheat prices could discourage Filipinos from consuming bread and similar items.

Many households, he said, could increase their intake of rice. While this allows them to prevent starvation, Tolentino said this does not bode well in terms of nutrition.

This is a concern, especially at this time when the cheapest source of protein, eggs, have also seen an increase in prices.

“They will reduce their consumption of meat and fish and increase their consumption of rice and so the nutritional impact of that is bad. We (already have) too much carbohydrates (in our diets,” Tolentino said. “(This is a) huge issue (since) very few of our children already get adequate levels of protein and dairy and that is a major cognitive devel-

opment issue which is longstanding and which is now being seen in our educational performance metrics,” he added.

The number of undernourished Filipinos in the country has fallen to 5.7 million between 2019 and 2021 compared to 12.4 million Filipinos recorded in 2004 to 2006. Pundits attributed the decline to the growing economy and the effects of the 4Ps program.

Regressive growth

THE primary concern involving children who lack nutrition is the prevalence of stunting among them. Philippine Institute for Development Studies (PIDS) Senior Research Fellow Valerie Gilbert T. Ulep found in his research that the common belief that Filipinos are “short” may not only be due to genetics, but due to malnutrition.

This, the short height of children, is one of the most common signs of stunting. But stunting is not just about height but also about cognitive development.

Former Socioeconomic Planning Secretary Cielito Habito earlier described stunting as one of the Philippines’s major development challenges. Habito said this may make these children “mediocre” when they grow up or be workers that have “low productivity.”

While the Philippine population remains young, reaping the full benefits of the demographic dividend from now until 2050 means having a strong and capable labor force. Habito said that if the working population are disadvantaged from a young age, the country’s demographic dividend could become a demographic time bomb instead.

The prevalence of wasting in Filipino children under 5 years old at the end of 2020 was at 600,000, while the number of stunted children was at 3 million.

Under-5 Filipino kids who were overweight remained at 400,000 in 2020 while obesity in the adult population rose to 4.1 million in 2016 from 3.2 million in 2012.

The number of infants aged 0 to 5 months who experienced exclusive breastfeeding rose to 1.1 million in 2020 from 800,000 in 2012. The prevalence of low birthweight in the Philippines remained at the 20-percent level in end 2015, translating

to about 500,000 infants.

Getting more pricey

AND with inflation increasing to 6.1 percent, Tolentino worries that the rise in prices will just continue. Inflation in 2018, based on PSA data, averaged 5.2 percent. This is the same year when starvation caused the death of 103 Filipinos.

“It will become much more expensive,” Tolentino said. “This is the real issue, it is not about selfsufficiency; it is not about supporting farmers; it is not about the short-term changes in the price level. It is all about how you feed your people with the most competitive prices possible of all foods, so that they have access to it and that they have a choice of what these foods are and be able to meet their nutritional needs.”

According to the 2022 SOFI report, the number of Filipinos who cannot afford a healthy diet rose to 75.2 million in 2020 from 74.2 million in 2019.

The report was jointly prepared and published by the United Nations’ Food and Agriculture Organization, International Fund for Agricultural Development, Unicef, World Food Programme (WFP) and the World Health Organization.

The SOFI 2022 report revealed that the cost of a healthy diet in the Philippines in 2020 rose to a four-year high at $4.108 per person per day (about P230 at current exchange rate).

The cost of a healthy diet in the Philippines has been constantly increasing since 2017, when it was estimated at $3.843 per person per day. In 2018, it was $3.998 per person per day and reached $4.054 per person per day in 2019.

Based on the latest SOFI 2022 data, a Filipino should spend nearly $1,500 (about P84,000 at current exchange rate) annually to stay on a healthy diet.

Alarming inflation

ALBAY Rep. Joey Sarte Salceda, an economist, explained that the country’s food prices, measured by inflation, are strongly correlated to the number of hungry Filipinos.

Salceda projected that the country’s hunger increases by 0.29 percent for every one whole percentage (1 percent) of inflation rate.

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brings death, malnutrition to PHL’s doorsteps

If the country’s average inflation rate this year settles at 5.5 percent, it would translate to an additional 76,500 hungry Filipino families, Salceda explained.

“One thing that would limit our food security is high food prices. The poor Filipinos cannot buy properly because of expensive basic commodities,” Salceda said in an interview with CNN Philippines.

In Adriano’s view, the rising inflation and continuous peso depreciation would make it harder for Filipinos to purchase healthy food.

The country’s inflation accelerated to 6.1 percent in June while the peso has settled at the vicinity of P56 against the US dollar.

“They will make nutritious food more unaffordable to ordinary Filipino consumers,” Adriano, an agriculture economist for over 30 years, told the BusinessMirror.

“If food prices increase as a result of the depreciation of the peso (for those imported ones, like most canned goods - meat and fish) and supply shortages, these will mean that the greater income of the poor will go to purchasing food leaving little other needs (health, education, clothing, etc.),” Adriano added.

Citing a World Food Programme study, Adriano said Filipinos, particularly those earning a minimum wage, can “hardly” afford to buy nutritious food.

“It also noted that you almost have to double the take home pay of workers to afford decent nutritious food for the family,” he added.

The daily health diet cost estimated by the 2022 SOFI report for the Philippines of $4.108, or about P225 (at present exchange rate) is about 40 percent of the P570 minimum wage in the National Capital Region, based on BusinessMirror computations.

Make food cheaper

TOLENTINO said addressing hunger and malnutrition would involve bringing down the cost of food in the country and ensuring that all Filipinos, regardless of socioeconomic status, can purchase and have access to the same kind of items.

But bringing down the cost of food would not be simple. Tolentino said part of this solution is for the national government to bring

down all tariffs imposed on various imported food items, including rice. It must be noted that the Philippines, to this day, is a net food importer.

Tolentino said rice imports, for one, are slapped with a 35-percent tariff if they are imported from ASEAN countries and where the bulk of our imports usually come from. A higher tariff is imposed when importing rice from countries outside Southeast Asia.

“So if you have a tariff, right now 35 percent on rice for example, you’re basically saying that people will need to shell out 35 percent more for the food that they’re eating compared to an ordinary consumer, say, in Thailand or Vietnam. The tariff is paid for by the people who consume the food,” Tolentino said.

In order to bring down the cost of food, Tolentino said the government should “drastically reduce” all tariff and non-tariff barriers that make food expensive in the Philippines. The recent reduction of the higher tariffs imposed on rice from outside ASEAN is a step in the right direction but more needs to be done in that regard.

He added that non-tariff barriers such as the need to issue certificates of necessity to import (CNI) in the case of fish should be removed in order to further bring down the cost for consumers.

At his age of 69, Tolentino said, he does not yet need glasses and jokingly attributed it to good nutrition, including condensed milk produced by the International Rice Research Institute (IRRI) when he was growing up.

“In our case, nasanay na tayo [we’ve gotten used to it], in a way.

These policies have been around for so long that we have come to consider them as normal, which is so bad. We accept that NFA is a normal part of life, we accept that the idea of food security in terms of self-sufficiency is a normal fact of life but it is not,” Tolentino said.

Estimation weaknesses

THE loss of one life due to malnutrition or hunger is one too many.

But Tolentino said the data may not be that accurate. The number of starvation deaths in 2020 which reached 12, he said, may have been underreported. The

lockdowns and other weaknesses in reporting deaths may be the culprit in this, if this number is indeed underreported.

In a report in 2021, the United Nations Economic and Social Commission for Asia and the Pacific (Unescap) said improving monitoring of the number of deaths and their causes will pave the way to achieve the universal civil registration and vital statistics (CRVS) systems by 2024. The Regional Action Framework contains 15 targets.

The Unescap said the timely mortality statistics disaggregated by causes of death are needed to develop and monitor public health policies and detect emerging health crises such as the Covid-19 pandemic. It stressed that there is a need to further train doctors and increase their awareness of the importance of accurate death certification.

Based on the report, some 22 countries did not have regular training provided on cause of death coding. The report added that nine of these countries did not have ad hoc training either. The Philippines, for its part, is stagnating in meeting the targets on reducing ill-defined cause of death code and in the use of verbal autopsy.

“I bet you actually, maybe there’s more. That 100, that is only what is officially reported,” Tolentino said. “(Starvation and malnutrition could be secondary causes), you are no longer eating well, and have choked from extreme hunger.”

Survey: Covid worsened hunger

COVID-19 could be lethal—in more ways than one.

A rapid assessment survey by the Department of Science and Technology - Food and Nutrition Research Institute (DOST-FNRI) showed that food insecurity experienced by Filipinos worsened in 2020 due to the pandemic.

The DOST-FNRI surveyed 5,717 households nationwide, with 56.3 percent of them reporting problems in accessing food in 2020 due to lack of money, limited public transportation, unemployment, limited food supply, and inability to buy food (elderly living alone).

To cope, the households resorted to buying food on credit (71.8 percent), borrowing food from

family/neighbors/friends (66.3 percent), bartering food (30.2 percent) and reducing food intake of adults for children to have more (21.1 percent).

“Impact of food insecurity was higher in households with children (74.7 percent) and pregnant members (80.8 percent) than in households without such members,” the DOST-FNRI said.

The agency also reported that the surveyed households answered that their kids were stunted. The DOST-FNRI survey showed that 66.7 percent of the households were aware that stunting is caused by inadequate food intake and nutrition.

The survey showed that 1 out of 5 of the surveyed mothers perceived their children to be stunted.

Procurement policy

TO note, the 2022 SOFI Report cited the local government of Quezon City for its remarkable “healthy food” procurement policy aimed at addressing nutrition-related problems in its locality.

“In one example of procurement policies with a wider scope, in the Philippines, in 2021, the Quezon City Healthy Public Food Procurement Policy introduced mandatory nutrition standards for all food supplies in city-run hospitals, offices, departments and institutions,” the 2022 SOFI read.

“A programme to source nutritious foods and healthy ingredients from micro-, small- and mediumsized enterprises (SMEs), supports the policy,” the 2022 SOFI added.

In July 2021, Quezon City Mayor Josefina Tanya “Joy” G. Belmonte issued Executive Order (EO) 16 series of 2021, titled, Quezon City Healthy Public Food Procurement Policy aimed at “positively” affecting the overall health and nutrition of her constituents.

Under the EO, all QC government units are required to source food products that comply with the city’s nutrition standards while encouraging procurement from micro, small and medium enterprises in the city.

“LGUs directly impact their constituents’ food choices and overall nutrition, through the food they procure and serve in city-administered institutions

and during city-funded activities,” Belmonte said.

“Thus, the Quezon City Government is in a unique position to promote QCitizens’ health and nutrition through a healthy food procurement policy,” she added.

Quezon City became the first LGU in the country to establish such a type of food procurement policy.

Healthier living

PABLITO M. Villegas, vice president of Moringgaling Foundation Philippines Inc., said Filipinos’ pandemic-found love for urban gardening must continue in the new normal to supply household needs for healthy food.

“We need to go back to the basic Filipino diet, culinary and food menus. We must start buying and better still growing nutritious yet affordable foods like the malunggay, saluyot, mongo or mungbeans, squash, okra, camotes and green leafy vegetables, root crops and fruits in season,” Villegas told the BusinessMirror.

The agricultural economist also emphasized that feeding programs of local government units (LGUs) must be strengthened by incorporating Filipino-made nutritious food items.

One way to do this is by taking advantage of the “Sagip Saka”

law (Republic Act 11321), which a l lows gover nment agencies, including LGUs, to directly purchase food from local farmers, especially those from their concerned localities, he explained.

Villegas cited the plan of the Malvar Organic Farmers Agriculture Cooperative (Mofac) to soon supply bread with moringa (Moringa oleifera) to the feeding programs of their locality and eventually to the province of Batangas. Villegas is the general manager of Mofac.

The Mofac, according to the Department of Agriculture, is set to receive P4 million in government funding for its moringa project in Batangas that seeks to establish a nursery for malunggay seedlings, provision of organic fertilizers and inputs, as well as the processing for dry food-grade malunggay powder and dried malunggay leaves.

“We will coordinate with the DSWD and LGU to supply moringga buns for the benefit of lactating mothers and pregnant women,” he said, noting that malunggay or moringga is rich in Vitamins A, C, E and even in magnesium and calcium. Villegas added that the moringga buns would also utilize locally-produced flour like those made from coconut, banana, and cassava.

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More Pinoys became homeowners amidst the pandemic—Pag-IBIG

By Leony R. Garcia

‘W

E recognize that one of the aspirations of our fellow Filipinos is to own their own homes and that is why we do all that we can do to make our housing loans affordable, accessible, and inclusive so that our members are able to achieve their dreams of ownership,” stated Mary Annette R. Samano, OIC, OVP Loans Origination Group, Pag-IBIG Fund, during the recent BusinessMirror Coffee Club webinar titled, “Solving the Philippine Housing Problem: An Update.”

“As we all continue from the global pandemic, your Pag-IBIG Fund continues to serve you, our members, and our stakeholders always and in all ways. So, we remain as strong as ever and reliable as ever in bringing you our programs and services. We are happy to share that our efforts have translated into record-high accomplishments, and meaningful accomplishments because our record-high numbers are the number of Filipino workers whose lives, we have helped through our savings program, short-term loans, and housing loans especially amid the pandemic,” Samano continued.

According to her, amid the continuing challenges posed by the pandemic, the PagIBIG Fund was able to release P100.8 billion in housing loans last year, the highest ever amount released in its 41 years history. She added that behind these accomplishments are the 102,938 Pag-IBIG Fund members who now have homes of their own.

How Pag-IBIG Fund came to be

THE Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG ( Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno) Fund, is a government-owned and controlled corporation (GOCC) under the Department of Human Settlements and Urban Development (DHSUD) responsible for the administration of the national savings program and affordable shelter financing for the Filipinos.

Established on June 11, 1978 by virtue of Presidential Decree No. 1530, there were two agencies that administered the Fund – the Social Security System (SSS) handled the funds of private employees, while the Government Service Insurance System (GSIS) handled the savings of government workers.

On March 1, 1979, Executive Order No. 527 was signed directing the transfer of the administration of the Fund to the National Home Mortgage Finance Corporation, which was one of the operating agencies of the then Ministry of Human Settlements.

Executive Order No. 538 was issued on June 4, 1979, merging the funds for private and government personnel into what is now known as the Pag-IBIG Fund. However, it was only on December 14, 1980, when PagIBIG was made independent from the NHMFC with the signing of PD 1752, making Pag-IBIG membership mandatory for all SSS and GSIS member-employees.

The current state of Pag-IBIG Fund

AS of 2021, the Pag-IBIG Fund has 13.69 million active members, and it continues to grow as many Filipino workers entrust their savings to the Fund.

“For 2021, we posted home loan releases of P97.30 billion translating to 94,533 housing loan borrowers. For our short-term releases, we have released P44.30 billion or the equivalent of 2,090,851 short-term borrowers. Also

last year, our total assets were at P740.53 billion with a net income of P34.73 billion,” Samano revealed.

“For the Pag-IBIG housing loan, our total loan takeout in 2021 is P97.3 billion, the highest ever in the Fund’s history. And if we add the P3.5 billion interim releases for construction and renovation, it’s P100.8 billion. We surpassed the P100 billion mark in 2021. This means that higher loan releases mean more Filipino workers have their own homes even during the pandemic,” she added.

In her presentation, the trend of housing loan takeout from 2017 up to June 2022 is go-

ing up. “The exception is 2020 because of the pandemic but last year, in 2021, it went up to P97.28 billion and for the first six months of 2022, we posted a P51.96 billion total take out again. It’s historic in the Pag-IBIG Fund for the first six months of the year.”

Lowest interest rates

BECAUSE of its Charter, the Pag-IBIG Fund is able to provide the lowest rates for the home loans of minimum and low-wage workers. The subsidized three percent rate was first offered in May 2017 to help more members realize their dreams of owning a home. Until now, the

special rate still stands.

Aside from keeping its interest rates low, Pag-IBIG Fund also keeps the insurance premiums at a minimum, so that borrowers would only need to pay a low monthly amortization of P2,445.30 for a socialized home loan of up to P580,000. Moreover, qualified borrowers will never have to put out cash for equity under the Fund’s Affordable Housing Program.

“A member can avail of a housing loan for the following: a residential lot at a maximum of 1,000 sq. meters; even a joint residential lot. Borrowers can purchase a residential house and lot, a townhouse, or a condominium unit. They can construct a house on a property owned by the borrower or member or improve his house or re-finance his existing housing loan from other banks,” Samano said.

“Any Pag-IBIG member can apply if he/ she has 24 monthly membership savings under our Pag-IBIG regular savings; he is not more than 65 years old at the date of loan application and is not more than 70 years old at the date of loan maturity. Of course, he has the legal capacity to acquire and encumber real property in the Philippines, has Pag-IBIG housing loan foreclosed, canceled, bought back, or voluntarily surrendered, and if with existing Pag-IBIG housing loan or short-term loan (STL), payments must be updated,” she added.

In her parting words, Samano encouraged members to avail of the many services of the Pag-IBIG Fund. Housing Loan borrowers who have maintained the good standing of their accounts by paying their monthly amortizations on time may still avail of another loan based on the net value of their mortgaged property.

Through the Pag-IBIG HEAL, existing borrowers may apply for a loan at very lowinterest rates and under borrower-friendly terms, payable up to 30 years.

“Likewise, we encourage all members to sign up for the Virtual Pag-IBIG to transact all loans and even pay online. We also hope to partner with more banks and remittance centers to further serve our kababayans better,” the lady OIC concluded.

NHMFC, DHSUD, and ALCO team-up to address housing backlog through green technology

T

HE National Home Mortgage Finance Corporation (NHMFC), Department of Human Settlements and Urban Development (DHSUD) and Arthaland Corporation (ALCO) signed a Statement of Intent to collaborate in the implementation of the “Balanced Housing Act” by participating in the BALAI housing projects using green design and technology.

The SOI was signed by NHMFC President Carlo Luis P. Rabat, DHSUD Secretary Eduardo D. Del Rosario, and ALCO Vice-Chairman and President Jaime C. Gonzales.

With this agreement, Arthaland will participate in the Balanced Housing Development Program through the construction of housing units in the various BALAI projects and programs of the government, such as NHMFC’s BERDE Program.

BERDE stands for Building Eligible Resilient Dwelling for Everyone. It is a sub-program of NHMFC’s Housing Loan Receivables Purchase Program (HLRPP) which serves as a liquidity facility for developers who design and develop new or existing green building or housing projects.

Brighter, greener future

IN his message, NHMFC President Carlo Luis P. Rabat emphasized the importance of this partnership not only to the organizations but more importantly, for a brighter and greener future

TRIPLE-TEAM: (L-R) NHMFC President Carlo Luis P. Rabat, DHSUD Secretary Eduardo D. Del Rosario, and ALCO Vice-Chairman and President Jaime C. Gonzales sign a Statement of Intent that sealed the 3 agencies’ collaboration in the implementation of the Balanced Housing Development Program.

of the country and our mother Earth.

“We hope to see more green housing being built, which addresses both the housing backlog, and mitigates the effects of climate change,” he added.

On the other hand, ALCO President Gonzales said that BALAI BERDE Program is a landmark initiative to promote green building revolution in the country and to bring about inclusive growth. He said that they believe that sustainable living is the only way forward and it begins at home. He added that they are excited for the opportunity to build well designed, high quality, financially feasible green houses for the marginalized sector.

“Access to decent and sustainable housing is everyone’s right and we’re prepared to play the critical role in providing for the less fortunate communities in close coordination with DHSUD and NHMFC,” Gonzales stressed.

Through this partnership, DHSUD Secretary Eduardo Del Rosario expressed his hope that more developers will do the same to enhance production of more housing units that are green, and by applying as compliance to socialized housing. In an earlier event, NHMFC formally welcomed ALCO into its circle of partner-developers under the BERDE Program through the signing of a Memorandum of Agreement (MOA).

Pag-IBIG Fund finances 8,471 homes for low-wage earners in H1 2022

P

AG-IBIG Fund financed a total of 8,471 socialized homes for minimum-wage and low-income members amounting to P3.67 billion in the first half of 2022, its top officials said recently.

Socialized home loans make up 19 percent of the total number of housing loans financed by the agency from January to June this year. The amount, meanwhile, represents seven percent of the total housing loans released by the agency for the said period. Pag-IBIG Fund posted record-highs of 47,184 in housing units financed and P51.96 billion in home loans released during the first half of the year.

“We at Pag-IBIG Fund remain committed in pursuing our mandate to provide a home for every Filipino worker. With our Affordable Housing Program, achieving the dream of homeownership is made possible especially for

minimum-wage workers. The program’s lowest rates and longest payment term allow our members from the low-income sector to buy or build a home of their own,” said Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

Special program

PAG-IBIG Fund’s Affordable Housing Program (AHP) is a special home financing program specifically designed for minimum-wage and low-income members from the National Capital Region (NCR) who earn up to P15,000 a month, and from outside the NCR who earn up to P12,000 per month. Under the AHP, eligible borrowers enjoy a special subsidized rate of only three percent per annum for home loans of up to P580,000 for socialized subdivision projects.

Pag-IBIG Fund Deputy Chief Executive Officer for Home Lending Operations Marilene

C. Acosta, meanwhile, said that the AHP’s three percent rate translates to a monthly amortization of as low as P2,445.30 for a socialized home loan amounting to P580,000, making homeownership within reach of low-income earners.

“We first offered the AHP’s subsidized 3 percent rate in May 2017 to help more members, particularly those from the minimumwage sector, realize their dreams of owning a home. With our very low rates, our members are able to enjoy a monthly amortization on their home loans that is lower than the cost of rent.

And, since qualified borrowers do not need to put out cash for equity under the program, payments are even more within budget of low-income members. Makakaasa ang aming mga miyembro na patuloy nila kaming katuwang sa pag-abot ng kanilang pangarap na magkaroon ng sariling tahanan,” Acosta added.

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Multi-sectoral approach needed to address housing gap—NHFMC

By Leony R. Garcia

T

HE National Home Mortgage Finance Corporation (NHMFC), established in 1977, is tasked to increase the availability of affordable housing loans. The agency finances Filipino homebuyers in their acquisition of housing units through the development and operation of a secondary market for home mortgages.

As the major government home mortgage institution, NHMFC is also mandated to monitor the per formance and implementation of the Communit y Mor tgage Program (CMP) by its

owned subsidiar y, the Social Housing Finance Corporation (SHFC).

NHMFC’s securitization program is among the innovative programs being implemented by the agency as one of the key shelter agencies (KSAs) of the Department of Human Settlements and Urban Development (DHSUD).

In plain language, securitization means pooling together several types of debt instruments and selling them as bonds to investors to enhance liquidity.

Rundstedt B. Jalbuna, NHMFC’s Chief of Processing and Pricing Division, Securitization Group, guested during the recent BusinessMirror Coffee Club webinar titled, “Solving the Philippine Housing Problem: An Update,” to discuss the agency’s functions and role in the country’s housing programs.

NHMFC’s engagement in securitization is aimed at fueling housing finance, which is among the three core functions of DHSUD—the two others being regulation and production.

It is also in line with the corporation’s mandate, as the secondary mortgage institution (SMI), to accelerate the recycling of funds in the housing sector through the purchase of mortgages from originators or developers, banks, and other home lending institutions to serve as an asset pool for future securitization.

With this mission, NHMFC has evolved through the years in developing groundbreaking financial instruments that enhance liquidity in the housing sector.

NHMFC’s housing finance programs cater to the growing needs of the different segments of our society. There are currently four programs, according to Jalbuna, as detailed below.

HLRPP 1-Home Program

IN 2009, NHMFC launched the Housing Loan Receivables Purchase Program (HLRPP), which is no0w called the Purchase of Originated Economic/Low-Cost Housing Receivables Program (HLRPP 1-HOME Program). It is a liquidity facility for economic and low-cost housing loans which originators find more attractive due to a fixed interest rate of as low as 4.7 percent for a term of seven years and 6.2 percent for 30 years with no institutional membership requirement.

Added to this is the high loan-to-value ratio. Housing loan portfolios purchased under this program are pooled and subsequently used by NHMFC for bond issuances under the securitization framework. The securities from the bond issuance are eventually offered to the capital market as an alternative investment facility for retail and institutional investors.

SHELTER PROGRAM (HLRPP-2)

SEVEN years later, the NHMFC conceptualized and rolled out the HLRPP-2 Socialized Housing Loan Take-out of Receivables Program (HLRPP 2-Shelter Program). This is a take-out window for originators of socialized housing. It encourages developers to continuously produce quality socialized housing projects that NHMFC can eventually purchase for securitization.

The loanable amount is up to P750,000 starting at a three percent interest rate for the first five years, and 5.5 percent on the remaining years, for a maximum term of 30 years.

Like the framework of the HLRPP 1-HOME Program, housing receivables from the Shelter Program are pooled for purposes of securitization, and securities from bond issuance are offered to housing developers. The purchase of these securities by developers or

originators is deemed as full compliance with the Balanced Housing Development Program, which is a requirement for the issuance of a license to sell.

With the introduction of this liquidity mechanism, NHMFC expanded the capital market for asset-backed securities.

With these programs in place, the NHMFC reiterated its commitment to stimulate the capital market by strengthening the operation of the secondary mortgage market to help realize the lifelong dream of some 81 percent of Filipino families to have a house of their own.

MABUHAY PROGRAM (HLRPP-3) FOR FILIPINO SENIOR CITIZENS

THE increasing aging population in the country prompted the NHMFC to establish a new scheme that will help support the financial needs of the underserved Filipino senior citizens. Considering that there are housing finance programs that do not explicitly cater to the elderly’s needs for additional funds, NHMFC officially launched in 2016 its version of the Reverse Mortgage Program dubbed as “Magandang Buhay sa BaHay (MaBuHay) Program” (HLRPP 3-MaBuHay).

This is a new product in the Philippine capital market designed to help provide additional funds for Filipino senior citizens’ snowballing cost of living.

The NHMFC’s MaBuHay Program is a type of mortgage where a homeowner senior citizen can borrow money against the value of his or her home, receiving funds in the form of a fixed monthly payment, a line of credit, or both. No monthly payment of the mortgage is required until the borrower dies, moves away permanently, or sells the home. It allows senior citizens to convert a portion of their

home equity into cash to pay for their medical and health care expenses, cost of travels or vacations, financial obligations, or other existing loans. It can also provide additional capital for their planned or existing business and other ventures.

The MaBuHay Program, as a social welfare instrument for older persons who play vital support to the development of the capital market, is also NHMFC’s way of supporting Republic Act No. 9994 or the “Expanded Senior Citizens’ Act of 2010.”

BALAI BERDE PROGRAM (HLRPP-4)

THE BALAI Housing Program was conceptualized and formally launched on Oct. 18, 2017, with the key shelter agencies committing to engage in building sustainable Filipino communities.

Under this program, direct housing production, housing loans, mortgage programs, land registrations, and other various housing assistance shall be branded as “BALAI,” which stands for Building Adequate, Livable, Affordable, and Inclusive (BALAI) Filipino Communities.

As part of NHMFC’s commitment to contribute to the BALAI Housing Program, the Philippine Development Plan (PDP) 20172022, Ambisyon Natin 2040, and the Sustainable Development Goals (SDG), another liquidity facility for housing loan originators called the BALAI BERDE Program (HLRPP 4-BERDE) was created.

This is consistent with NHMFC’s objective to support communities, marginalized sectors, local government units and the private sector in building safe and secure communities.

The goal was to help the housing sector in its

efforts to deliver green housing projects.

BERDE stands for Building Eligible Resilient Dwelling for Everyone.

BALAI BERDE is the first program of DHSUD that promotes sustainable housing development in safe and secure communities.

It advocates quality of life in a society that contributes to the economy while preserving the environment. It promotes the reduction of community risks and vulnerabilities to disasters as well as encourages energy efficiency, the building of resilient housing units, water conservation, and the use of low carbon materials.

As a new financial instrument, this program was designed to increase capital allocations for green projects that contribute to environmental sustainability and resiliency.

It offers a loan not exceeding 100 percent of appraised value or up to P3 million, with a term of five to 35 years and a fixed rate of three to six percent.

In his presentation, Jalbuna clarified that Pag-IBIG members may avail of the services of the NHMFC, and that the agency does not require membership for Filipino buyers.

He also encouraged more developers to go into green housing so that sustainability and resiliency in the country can be promoted and their receivables can be sold to the NHMFC to generate more funds. He also said that NHMFC’s plans include improving its guidelines for operation and for originators to sell their receivables, as well as expanding the BERDE program.

“Addressing the country’s housing gap needs a multi-sectoral approach.

NHMFC |cannot solve it alone. Let us all help together to provide affordable housing for all,” he concluded.

Agriculture/Commodities

A10 A4 Thursday, July 28, 2022 • Editor: Jennifer A. Ng

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PHL rice inventory declines by 12.3% in June

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE country’s rice inventory as of June fell by 12.3 percent to 2.22 million metric tons (MMT) from last year’s 2.53 MMT, the Philippine Statistics Authority (PSA) said.

“Relative to the May 2022 inventory level of 2,279.96 thousand metric tons, the current rice stocks inventory dropped by -2.6 percent,” the PSA said in its monthly rice and corn stocks report published on Wednesday.

The agency said about 47.3 percent or some 1.049 MMT of rice were stored by households while 44.8 percent or 995,230 metric tons (MT) were held by commercial entities (warehouses, wholesalers and retailers).

It added that rice stocks in the National Food Authority (NFA) warehouses as of June 1 reached 175,490 MT, accounting for 7.9 percent of total inventory during the reference period.

“Rice stocks inventory in all sectors decreased compared with their levels in the previous year.

Stocks in the households dropped by -7.3 percent, in commercial warehouses/wholesalers/retailers by -15.2 percent, and in NFA depositories by -22.0 percent,” the PSA said.

“In comparison to the previous month’s rice stocks inventory levels, the households registered a drawdown of -15.4 percent. However, stocks in commercial warehouses/ wholesalers/retailers and NFA depositories grew by 13.0 percent and 10.5 percent, respectively.”

In the same report, the PSA said total corn inventory as of June 1 declined by 9.2 percent to 873,480 MT from 962,070 MT last year. However, the PSA added that the latest total corn inventory estimate was 12 percent higher than the 779,790 MT recorded in May. “The total corn stocks inventory for the month was comprised of 8.3 percent from the households and 91.7 percent from the commercial

FRESHLY harvested rice in the Philippines is shown in this file photo. BLOOMBERG NEWS

warehouses/wholesalers/retail-

ers,” it said.

PSA data showed that corn

inventory in commercial entities reached 801,060 MT while corn stocks in households were at 72,420 MT. “Corn stocks in the households and commercia l warehouses/ wholesalers/retailers diminished by -48.0 percent and -2.7 percent, respectively, in comparison with their June 2021 corn stocks inventory levels,” it said.

“Month-on-month, corn stocks in commercial warehouses/wholesalers/ retailers grew by 19.1 percent, while stocks inventory in the households contracted by -32.5 percent.”

In May, t he PSA repor ted that the country’s unmilled rice output in January to March fell by 1.9 percent year-on-year to 4.541 MMT while corn production dipped to 2.441 MMT from last year’s 2.445 MMT. PSA data showed that the value of crop production in the first quarter declined by 1.65 percent to P243.651 billion from P247.736 billion last year.

Manila eyes fresh round of sugar imports–DA official Diokno: Review

T

HE Philippines is preparing for another round of sugar importation as domestic supply is projected to be depleted by the end of August, according to an official of the Department of Agriculture (DA).

Agriculture Undersecretary-designate Kristine Y. Evangelista said the Sugar Regulatory Administration (SRA) is set to meet with sugar industry stakeholders this Friday to discuss the supply situation.

Evangelista said the agenda of the meeting will include the SRA’s proposal for additional sugar imports and the implementation of a suggested retail price for both locally-produced and imported sugar products.

As for the volume of sugar imports that will be purchased, she said it will be discussed during the meeting.

Evangelista said the additional sugar imports would address the needs of industrial users and households.

“We will have to determine the requirements of both the industrial users and the households,” she told reporters in an interview on Wednesday. “Our current sugar supply is very, very thin. It is still not enough, but our direction for the meantime is looking into a [new] sugar order for importation.”

Evangelista said the additional imports must arrive by next month to ensure that the country will have enough sugar supply.

“The imports must arrive before the end of August. As far as timing is concerned, that is our premise to ensure that we will have additional stocks by the time our current supply is depleted.”

Citing latest estimates of the SRA, Evangelista said the country’s current refined sugar supply would be wiped out by end-August.

The SRA earlier projected that refined sugar supply would last until this week while raw sugar would

be depleted by the first week of August. (Related story: https://businessmirror.com.ph/2022/06/29/ phl-may-run-out-of-sugar-byaugust-sra/) Evangelista said the imported sugar under the importation program authorized by Sugar Order (SO) 3 has started to arrive and has augmented local sugar supply.

SRA data showed 139,075.9 MT out of the total 200,000 MT of imported refined sugar under SO 3 has arrived in the country.

“The remaining sugar supply until August would be entirely for household consumption,” she said.

Evangelista said current sugar prices would remain elevated. “We will see price spikes this August or prices will just remain stable. But it is very unlikely at this point that they will decrease unless we have more supplies then we can bring down the prices.”

“That is why we have to fast-

track the [new] sugar order. We are fast-tracking the stakeholders’ engagement so we can move forward as far as the recommendations are concerned.”

Latest SRA data showed the price of refined sugar in Metro Manila markets as of July 15 reached as high as P115 per kilogram. Sugar prices rose above the P100-per-kg price level for the third consecutive week. (Related story: https://businessmirror. com.ph/2022/07/25/price-ofrefined-sugar-soarsamid-crippling-supply-woes/) Sugar industry players earlier urged President Ferdinand R. Marcos Jr. to immediately appoint SRA officials who will implement the necessary measures that will stabilize sugar prices. (Related story: https://businessmirror.com. ph/2022/07/15/pbbm-urged-toname-sra-board-amid-risingsugar-prices/) Jasper Emmanuel Y. Arcalas

Turkey says Ukraine grain exports could start within a week

T

URKEY said grain exports from Ukrainian ports could resume within a week and reach 25 million tonnes by the end of the year, after it brokered a deal between Kyiv and Moscow that eased fears of a global food crisis.

Exactly when exports halted by Russia’s invasion would begin will be determined by logistical groundwork, Turkish President Recep Tayyip Erdogan’s spokesman, Ibrahim Kalin, said in an interview on Tuesday.

As many as 100 vessels carrying grain and agricultural products were trapped in Ukrainian ports when war broke out. The United Nations expects the first to move within a few days, and an adviser to global insurers has proposed a mechanism that might help cover the trade.

Still, hitting Kalin’s forecast for exports by December could be a challenge. Analysis firm UkrAgroConsult says that the Black Sea ports in question—Odesa, Chornomorsk and Pivdennyi—have a maximum combined capacity of 3.5 million tons a month.

Turkey is due to open a joint operations center with Ukraine, Russia and the UN on Wednesday to coordinate trade under the agreement.

A Russian missile strike on Odesa after the deal was reached raised doubts about Moscow’s commitment to the accord, but Kalin dismissed the concerns. The UN later said all sides had reconfirmed their intent to make the deal work.

The agreement capped months of diplomacy by the Turkish leader, who has struck a delicate balance since Russian troops entered Ukraine in February.

NATO member Turkey has been vocal about its support for Ukraine

a terrorist group by the US and European Union.

Kalin criticized Twitter posts by US Central Command on Sunday praising Kurdish militants killed earlier this month—ostensibly in an operation staged by Turkish forces.

“This is not something that can be accepted as part of the fight against terrorism and within the NATO alliance,” he said.

Wheat futures

EARS of wheat during a summer harvest on a farm in Nabatieh, Lebanon, on Wednesday, July 13, 2022.

PHOTOGRAPHER: HASAN SHAABAN/BLOOMBERG

and a company headed by Erdogan’s son-in-law has provided dozens of armed drones to bolster the Ukrainian military. Yet Ankara refrained from joining sanctions targeting Russia and kept lines of communication open with President Vladimir Putin.

“If everyone burns bridges with Russia, who’ll talk to them? We have seen [with this agreement] how important Turkey’s balancing act is,” Kalin said.

Security diplomacy

THE invasion of Ukraine added to fronts where Turkey needs to engage with neighboring Russia. Moscow provided a quarter of Turkey’s crude oil imports and around 45 percent of its natural-gas purchases last year.

And the two nations have become entangled in geopolitical flashpoints, including wars in Syria and Libya.

Moscow became the leading ally of the Bashar al-Assad regime in Damascus, while Turkey supported

rebel groups opposing it.

Turkey has in the past sent troops into northern Syria, intent on preventing a new wave of refugees heading toward its frontier and countering Kurdish militants that Ankara sees as a major threat.

Kalin reiterated Erdogan’s recent pledge to once again hit “terrorist” Kurdish groups in Syria, saying that a cross-border operation could begin “at any time.”

Yet Turkish plans for another operation to push the militants further away from the border have run into opposition from the US, as well as from Russia and Iran, another key Assad supporter.

Ankara says the Kurdish armed groups in Syria—which were backed by western nations in the war with Islamic State—are indistinguishable from the Kurdistan Workers’ Party, or PKK. The PKK has been fighting for autonomy in the southeast of Turkey for decades and is designated

WHEAT futures traded in Chicago and Paris climbed for a third straight day, recovering from recent lows, as traders waited to see how soon grain could be shipped from Ukraine’s Black Sea export corridor.

Chicago wheat rose 1.1 percent, while wheat traded in Paris jumped 1.8 percent. Turkey said grain exports from Ukrainian ports could resume within a week and reach 25 million tons by year’s end after it brokered a deal between Kyiv and Moscow last week, though multiple issues remain.

“The myriad of other challenges to be resolved before ships can load and leave Ukraine’s Black Sea ports is now becoming evident,” Tobin Gorey, agricultural strategist at Commonwealth Bank of Australia, wrote in a note. “We expect the trade will overcome most of those challenges in time.”

Now that the export deal has been signed, all eyes are on clearing a major obstacle: as many as 100 vessels carrying grain and agricultural products were trapped in Ukrainian ports when Russia’s invasion began, and seeing them sail would mark a key step toward revitalizing seaborne trade.

Still, freight for new sales is hard to nail down, with risks to insurers and shippers lingering. Bloomberg News

of RTL is not a priority of new government

By Bernadette D. Nicolas @BNicolasBM

F

INANCE Secretary Benjamin E. Diokno said President Marcos Jr.’s decision to not mention the review of the Rice Tariffication Law (RTL) in his first State of the Nation Address (SONA) proves that this is “not a priority” of his administration.

Marcos, who also serves as the Agriculture secretary, was silent about the review of the RTL during his hour-long speech on Monday, despite saying earlier that he wanted an amendment to the measure to make it more “local farmer-friendly” and to stop the country’s dependence on rice imports.

Speaking to reporters, Diokno said he does not see the need to change a “good law,” adding that the RTL benefits “almost all Filipinos.”

While he acknowledged the adverse impact of the RTL on rice farmers, he said a portion of the revenues collected from rice tariffs are being plowed back to them through the Rice Competitiveness Enhancement Fund (RCEF).

“The mere fact that it was not mentioned in the speech does not mean that it will remain. So siguro revisiting the Rice Tariffication Law is not priority of this government,” Diokno told reporters in a chance interview following the post-SONA economic briefing.

Signed by President Duterte in February 2019, the RTL opened up the Philippine rice market by replacing rice import quantitative quantitative restrictions (QRs) with tariffs. The law also mandated that rice import tariffs in excess of the P10 billion earmarked annually for RCEF could be used to provide financial assistance to palay growers, among other possible options. All rice tariffs in excess of P10 billion must be used solely for financial assistance until 2024 to farmers each tilling 2 hectares or below.

The Duterte administration earlier claimed that the implementation of the RTL reduced rice prices to an average of P39 per kilogram (kg) or a reduction of about P7 per kilo compared to its cost in 2018 when it peaked to around P47 per kilo.

However, some rice industry groups have lamented that the RTL led to a drop in farmers’ income as farm-gate prices plunged to as low as P7 per kg in certain provinces.

“I think if you are running the government, you must always think of what’s the greatest good for the

greatest number so siguro may effect siya sa some farmers, specifically rice farmers but meron din namang ibinibigay sa kanila doon e,” said Diokno, who previously said he would urge the President to continue implementing RTL. “It was part of the revenues from the rice tariffication goes back to the farmer so parang win-win din yun e. It’s not actually a loss to the farmers but it is a gain for almost all Filipinos.”

Wealth tax

AMID proposals for the government to impose a wealth tax, Diokno said this must be “appropriately designed” as there are a lot of factors that need to be considered regarding the feasibility of its implementation as well as its impact on potential investors in the country.

However, he pointed out that it might be more difficult to collect wealth tax rather than valueadded tax.

“So when you are designing a tax system, you have to weigh the administrative cost of collecting the tax so ilan ba ang bilyonaryo sa Pilipinas. Magkano ba makokolekta mo? Makokolekta mo ba talaga yon and how much resources are you gonna spend baka magkaroon lang ng leakage ’yun? Pang-harass mo lang siguro sa mga mayayaman so you have to think of all of these things,” he said.

Asked whether the imposition of wealth tax is something that they can consider, Diokno said: “Dapat lang appropriately designed but I don’t see many countries doing that, and also there is the incentive effect so you are going to turn off many of these people. ‘Yung mga papasok sana dito sa Pilipinas, ‘wag na lang. So may ganoong effect. So you have to weigh all of these factors.”

Sen. Sherwin T. Gatchalian, who will take over the chairmanship of the Senate Ways and Means Committee, recently said he is eyeing to file a bill seeking to impose an additional tax or increase the tax rate of wealthy individuals.

Think tank Ibon Foundation is also pushing for the imposition of wealth tax, saying this could yield substantial revenues for the government to expand its social and economic services while reducing inequality.

A wealth tax on the 50 richest Filipinos alone can raise up to P224 billion in revenues, based on earlier estimates made by IBON Foundation.

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

ABBOTT LABORATORIES 8th & 9th Floor Venice Corporate Center,, 8 Turin Street, Mckinley Town Center, Pinagsama, City Of Taguig MISHRA, ABHISHEK KAMALAPRASAD Finance Director 1.

Brief Job Description: Responsible for the overall finance and business support for the commercial operations of established pharmaceutical division of Abbott laboratories

Basic Qualification: Financial tertiary education

CHO, HONGKWAN App/cloud Support Senior Analyst 2.

Brief Job Description: Communicate with the client functional design incharge about the detail of requirement definition & function design FURUKAWA, HIDEHIRO Service Delivery Ops Team Lead

3.

Brief Job Description: Responsible for activities assigned by the service delivery manager, coordinate all escalation for potential client issues.

Basic Qualification: Bachelor’s Degree in Information Technology, Computer Science or other relevant fields

4.

Brief Job Description: Evaluate the construction project & determine the best method/practice undertaking the work

Basic Qualification: Open to high school graduates with related work experience.

Basic Qualification: Bachelor’s degree major in civil engineering or construction management, minimum 10 yrs. of relevant professional experience from design consultant or any reputable construction firm

AMDOCS PHILIPPINES INC. 23rd, 25th, And 26th Floors Eco Tower, 32nd St. Cor. 9th Ave. Bonifacio Global City, Fort Bonifacio, City Of Taguig

5.

Brief Job Description: Manages and leads definition and design of the solution, ensuring that it meets the customer’s needs

Basic Qualification: Bachelor’s Degree and has experience in software engineering role.

ZHANG, GUANNAN Chinese Customer Service Representative 6.

Brief Job Description: Managing incoming calls and customer service inquires ZHOU, YI Chinese Customer Service Representative

7.

Brief Job Description: Managing incoming calls and customer service inquires TOH LI KUAN Malaysian Customer Service Representative

8.

Brief Job Description: Managing incoming calls and customer service inquires LE HA MINH Vietnamese Customer Service Representative

9.

Brief Job Description: Managing incoming calls and customer service inquires PHAM THI HOAI QUYEN Vietnamese Customer Service Representative

10.

Brief Job Description: Managing incoming calls and customer service inquires TIN NGOC HUONG Vietnamese Customer Service Representative

11.

Brief Job Description: Managing incoming calls and customer service inquires TRAN THI MEN Vietnamese Customer Service Representative

12.

Brief Job Description: Managing incoming calls and customer service inquires UNG SAU PHUNG Vietnamese Customer Service Representative

13.

Brief Job Description: Managing incoming calls and customer service inquires VU THI THUY TRANG Vietnamese Customer Service Representative

14.

Brief Job Description: Managing incoming calls and customer service inquires

16.

17.

18.

19.

20.

LIU, WAN-HSIANG Mandarin Speaking Customer Service Representative Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to DUONG CHINH HUE Vietnamese Speaking Customer Service Representative Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to DUONG THI HUONG THAO Vietnamese Speaking Customer Service Representative Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to HUONG BAO CHAU Vietnamese Speaking Customer Service Representative Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to TU QUE NHI Vietnamese Speaking Customer Service Representative Brief Job Description: Immediately escalating serious complaints or issues that you are not equipped to

CAI, JIANGFENG Marketing And Sales Agent 21.

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

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

CHEN, SHIXIANG Marketing And Sales Agent 22.

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

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

Basic Qualification: Able to Speak, Read and Write Chinese Language SHI, DEWEI Marketing And Sales Agent

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

23.

Brief Job Description: Researches and develops various marketing strategies for products and services and implements marketing plans and works to meet sales quotas

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

Basic Qualification: Must have extensive work experience of at least 3 years in a sand fill position with an international Dredging and Land reclamation company or international construction projects.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin

Basic Qualification: Proficient in speaking, reading and writing in mandarin

Basic Qualification: Proficient in speaking, reading and writing in mandarin Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Can contributes information, ideas, and research to help develop marketing strategies; can help to detail, design, and implement marketing plans for each product or service being offered.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can contributes information, ideas, and research to help develop marketing strategies; can help to detail, design, and implement marketing plans for each product or service being offered.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can contributes information, ideas, and research to help develop marketing strategies; can help to detail, design, and implement marketing plans for each product or service being offered.

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

DUAN, QINHUA International Relations Officer

Basic Qualification: Must Know How to Speak Mandarin & English

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

Brief Job Description: Responsible for communicating with other counterparts of the organization

KANG SIEW FONG (GAN XIUFENG) Country Head 28.

LONG, JINGWANG Customer Service Representative

25.

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

Brief Job Description: A customer service representative supports customers by providing helpful information, answering questions, and responding to complaints. They’re the front line of support for clients and customers and they help ensure that customers are satisfied with products, services, and features.

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

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

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City AUNG NAING OO Burmese Customer Service Representative 29.

LAI, BO-YE Chinese Customer Service Representative 26.

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

Basic Qualification: Proficient in speaking, reading and writing in English and their respective Native Language for the position applied for; Fluent in Chinese Mandarin is an advantage.

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

Brief Job Description: Managing incoming calls and customer service inquires HTOO SAUNG Burmese Customer Service Representative

30.

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

NAN SAING HWM PEE Burmese Customer Service Representative

31.

Brief Job Description: Managing incoming calls and customer service inquiries LAN, CHANGLONG Chinese Customer Service Representative

32.

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

LI, YINGTAI Chinese Customer Service Representative

33.

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

WANG, HAIYANG Chinese Customer Service Representative

34.

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

WU, SUHAN Chinese Customer Service Representative

35.

Brief Job Description: Managing incoming calls and customer service inquires XIAO, XIAONYU Chinese Customer Service Representative

36.

Brief Job Description: Managing incoming calls and customer service inquiries YE, FENG Chinese Customer Service Representative

37.

Brief Job Description: Managing incoming calls and customer service inquiries YIN, BAOQIANG Chinese Customer Service Representative

38.

Brief Job Description: Managing incoming calls and customer service inquiries ZHAO, HONGYU Chinese Customer Service Representative

39.

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

SURIYAWATI Indonesian Customer Service Representative

40.

Brief Job Description: Managing incoming calls and customer service inquiries CHEAH WEI PIN Malaysian Customer Service Representative

41.

Brief Job Description: Managing incoming calls and customer service inquires CHUAH JIANG WEI Malaysian Customer Service Representative

42.

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. 25/f Robinsons Summit, Jg Summit Center, Ayala Ave., Bel-air, City Of Makati

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

Brief Job Description: Develop high quality business plans and strategies to lead and motivate staff for high performance

Basic Qualification: Tertiary education and master’s degree, minimum 10 years of experience in business development and project operations in real estate industry Salary Range: Php 500,000 and above

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

Basic Qualification: Must be a College graduate; Can Prepare product or service reports by collecting and analyzing customer information; Can contribute to team effort by accomplishing related results as needed; Can Manage large amounts of incoming calls

Basic Qualification: Proficient in speaking, reading and writing in English and their respective Native Language for the position applied for; Fluent in Chinese Mandarin is an advantage.

KEPPEL PHILIPPINES PROPERTIES, INC. 18/f, Adb Avenue Cor. Ortigas, Wack-wack Greenhills, City Of Mandaluyong

EASY GO TRAVEL AND TOURS INC. G/f King’s Court 2 Bldg., 2129 Chino Roces Ave., Pio Del Pilar, City Of Makati

GATEWAYSOLUTIONS CORP. Unit 2306 Antel Global Corporate Center, Julia Vargas Ave., San Antonio, City Of Pasig

BOSKALIS PHILIPPINES INC. Unit 3701, 3801 The Orient Square, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

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

QUALIFICATION AND SALARY RANGE

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

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

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

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

27.

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

24.

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CAO XUAN HOANG Vietnamese Customer Service Representative

Basic Qualification: Proficient in speaking, reading and writing in mandarin

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

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

No.

EASTERN GOLD CORPORATION 503, Nueva St., Barangay 289, Binondo, City Of Manila

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

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

QUALIFICATION AND SALARY RANGE

DIGICHROM INC. Unit 2602 & 2603 26/f Pbcom Tower, 6795 Ayala Ave., Bel-air, City Of Makati

Salary Range: Php 90,000 - Php 149,999

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

Brief Job Description: Responsible for the safe and correct execution of the sand fill plan. To lead a team of personnel (operators and pipe filters) on a wet sand fill.

A11

ESTABLISHMENT / ADDRESS

Salary Range: Php 90,000 - Php 149,999

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

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

PANKAJ KUMAR Scrum Master

15.

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

ACCIONA CONSTRUCTION PHILIPPINES INC. 23/f Tower 2, The Enterprise Center Tower 2, Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

MOHAMED GABER AHMED SOLIMAN Site Manager

ELIAS, JAISON Sand Fill Master

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

ACCENTURE, INC. 7f, Robinsons Cybergate Tower 1, Pioneer St, City Of Mandaluyong

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, July 28, 2022

Brief Job Description: Managing incoming calls and customer service inquires LIN, TZU-WEI Taiwanese Customer Service

43.

Brief Job Description: Managing incoming calls and customer service inquiries BUI THI KIM MAI Vietnamese Customer Service Representative

44.

Brief Job Description: Managing incoming calls and customer service inquires

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

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

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

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

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

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

BusinessMirror

A12 A6 Thursday, July 28, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHU THI PHUONG THUY Vietnamese Customer Service Representative

45.

Brief Job Description: Managing incoming calls and customer service inquires CHU THI THOAN Vietnamese Customer Service Representative

46.

Brief Job Description: Managing incoming calls and customer service inquires CHU VAN TUONG Vietnamese Customer Service Representative

47.

Brief Job Description: Managing incoming calls and customer service inquires DO DUYEN TIEN Vietnamese Customer Service Representative

48.

Brief Job Description: Managing incoming calls and customer service inquires DO MINH CUONG Vietnamese Customer Service Representative

49.

Brief Job Description: Managing incoming calls and customer service inquires HA THI THUY Vietnamese Customer Service Representative

50.

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

HO VAN MANH Vietnamese Customer Service Representative

51.

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

HOANG THE PHUONG Vietnamese Customer Service Representative

52.

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

HOANG TRONG CHIEN Vietnamese Customer Service Representative

53.

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

LE QUOC HUNG Vietnamese Customer Service Representative

54.

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

LE THANH DAT Vietnamese Customer Service Representative

55.

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

LE THI DUNG Vietnamese Customer Service Representative

56.

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

LE THI KIM ANH Vietnamese Customer Service Representative

57.

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

LE THI LANH Vietnamese Customer Service Representative

58.

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

LE THI XINH Vietnamese Customer Service Representative

59.

Brief Job Description: Managing incoming calls and customer service inquiries LEO THI HUYEN Vietnamese Customer Service Representative

60.

Brief Job Description: Managing incoming calls and customer service inquiries LUU VAN CUONG Vietnamese Customer Service Representative

61.

Brief Job Description: Managing incoming calls and customer service inquiries LY VAN TRUONG Vietnamese Customer Service Representative

62.

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN HOANG OANH Vietnamese Customer Service Representative

63.

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN HUU ANH Vietnamese Customer Service Representative

64.

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN PHU LOC Vietnamese Customer Service Representative

65.

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN THI DIEM TRANG Vietnamese Customer Service Representative

66.

Brief Job Description: Managing incoming calls and customer service inquiries

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

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

68.

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

69.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

MA, HONGGUANG Chinese Customer Service Brief Job Description: Customer support and data base services

AMUS POON KIN SENG Malaysian Customer Service Brief Job Description: Customer support and data base services.

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

70.

KOO GUO QIANG Malaysian Customer Service Brief Job Description: Customer support and data base services

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

71.

LIM CHIN TIEN Malaysian Customer Service Brief Job Description: Customer support and data base services

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

72.

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

TAN LI KING Malaysian Customer Service Brief Job Description: Customer support and data base services

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

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

73.

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

LEIN AON Myanmari Customer Service Brief Job Description: Customer support and data base services

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

74.

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

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

75.

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

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

76.

MYO HTET AUNG Myanmari Customer Service Brief Job Description: Customer support and data base services

NAING TUN AUNG Myanmari Customer Service Brief Job Description: Customer support and data base services

PHAN ZI Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

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

77.

PHONE HWEL Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

78.

SAI KYAW TUN Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

79.

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

TITE MAIN Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

80.

YAN KYAW Myanmari Customer Service Brief Job Description: Customer support and data base services.

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

81.

YEW WEE LIM Singaporean Customer Service Brief Job Description: Customer support and data base services.

67.

Brief Job Description: Customer support and data base services

QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

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

Brief Job Description: Customer support and data base services

Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

83.

BUI THI HUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

85.

86.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

87.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

88.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

89.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

90.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

91.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

92.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

93.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

94.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

95.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

96.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

82.

84.

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

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

BUI NGOC KHANH Vietnamese Customer Service

No.

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

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

NEW ORIENTAL CLUB88 CORPORATION Sky Garage Bldg., Aseana Avenue, Entertainment City, Tambo, City Of Parañaque

DU, YANG Chinese Customer Service

ESTABLISHMENT / ADDRESS

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

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

www.businessmirror.com.ph

97.

98.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CAO ANH THE Vietnamese Customer Service Brief Job Description: Customer support and data base services

CHU MINH TUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

DAM THI MY DUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

DO VAN PHUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

HA THI KIEU TRANG Vietnamese Customer Service Brief Job Description: Customer support and data base services

HOANG THI BICH NGOC Vietnamese Customer Service Brief Job Description: Customer support and data base services

HOANG THI HUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

LE THI HUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services

LUONG KIM PHUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LUONG VAN DAO Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LUONG VAN MANH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LUONG VAN TIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

LY NGUYEN KIEU MY Vietnamese Customer Service Brief Job Description: Customer support and data base services

LY VAN KHOA Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGO CONG CHANH Vietnamese Customer Service Brief Job Description: Customer support and data base services

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

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

99.

NGUYEN THI NGOC MINH Vietnamese Customer Service Brief Job Description: Customer support and data base services

QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

100.

101.

102.

103.

104.

105.

106.

107.

108.

109.

110.

111.

112.

113.

114.

115.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

NGUYEN THI TRA Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN TIEN DAT Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN TRONG TAM Vietnamese Customer Service Brief Job Description: Customer support and data base services

NGUYEN VAN HIEU Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NGUYEN VAN MINH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

NONG VAN NGON Vietnamese Customer Service Brief Job Description: Customer support and data base services.

PHAM DINH MINH TUAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

PHAM THI DUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

THI THI BIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRAN DUC KIM THUY Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRAN THI HOAI Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRAN VAN HOAN Vietnamese Customer Service Brief Job Description: Customer support and data base services

TRAN VAN TUYEN Vietnamese Customer Service Brief Job Description: Customer support and data base services

VI VAN TUONG Vietnamese Customer Service Brief Job Description: Customer support and data base services.

VU DINH BIEN Vietnamese Customer Service Brief Job Description: Customer support and data base services.

VY THANH MY LINH Vietnamese Customer Service Brief Job Description: Customer support and data base services.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Knowledgeable in computer application with good oral and written communication skills

No.

116.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Application With Good Oral and Written Communication Skills

117.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills

118.

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base

LIU, YANG Chinese Customer Service Representative 119.

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining database

SU, YANTING Chinese Customer Service Representative 120.

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining database

XIAO, XIONG Chinese Customer Service Representative 121.

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining data base

LI, WEI Country Manager 122.

Brief Job Description: Liaising with head office and writing up quarterly and annual reports.

WENNY SETIAWAN Senior Indonesian-language Customer Service Specialist 123.

Brief Job Description: Train assigned employees in their areas of work including customer service related methods, procedures and techniques

CHEN, YONGXIN Project Coordinator 124.

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager

HE, XUANXING Project Coordinator 125.

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager

HUANG, HAIZAN Project Coordinator 126.

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

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager

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

LI, XUEXI Project Coordinator 127.

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager

QUALIFICATION AND SALARY RANGE Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager

Basic Qualification: College Graduate, Fluent in English, Preferably 6mos-1year Customer Service Experience

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Fluent in English, Preferably 6 Mos-1 Year Customer Service Experience

YAN, YUEHONG Project Coordinator 129.

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

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager

Basic Qualification: College Graduate, Fluent in English, Preferably 6mos-1year Customer Service Experience

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate, Fluent in English, Preferably 6mos-1year Customer Service Experience

Basic Qualification: College Graduate, Fluent in English, Preferably 6 Mos-1 Year Customer Service Experience

130.

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

Basic Qualification: A native speaker of the Indonesian language (spoken and written)

Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager

Salary Range: Php 30,000 - Php 59,999 TELFA OUTSOURCING SERVICES INC. 21/f Tower 2 The Enterprise Center, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

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

Basic Qualification: 10 years or more experience in management in an international business setting.

Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills

YANG, LIQI Project Coordinator

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

CHENG CHEE YIN Mandarin Admin Specialist 131.

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

LIEW CHI YAN Mandarin Customer Service

132.

Brief Job Description: Serves customers by providing product and service information and resolving product and service problems.

LUONG GIA DAT Mandarin Customer Service

133.

Brief Job Description: Serves customers by providing product and service information and resolving product and service problems.

134.

Basic Qualification: Excellent in writing, reading and speaking in Mandarin.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in Mandarin.

SHIM FOONG LIN Mandarin Operations Specialist

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

Brief Job Description: Coordinate w/ vendors, clients, consulting and partners to act.

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

TOTAL CREST BUSINESS SUPPORT, INC. 26/f & 27/f Alphaland Corporate Tower, Ayala Ave. Extn. Cor. Malugay St., Bel-air, City Of Makati

Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills

Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills

Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

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

128.

Basic Qualification: Bachelor’s degree in business or related field of study; Competency in Microsoft applications including Word, Excel, and Outlook; Knowledge of file management, transcription, and other administrative procedures or a related field; Good communication and interpersonal skills Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficient in Speaking, Reading and Writing in Mandarin

BENJAMIN LING TOH NGEE Bilingual Field Marketing Officer 135.

Brief Job Description: Define a region-specific marketing plan that supports the regional sales strategy

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing in mandarin.

TRAN DANH THE Bilingual Field Marketing Officer 136.

Brief Job Description: Define a region-specific marketing plan that supports the regional sales strategy.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in Speaking, Reading and Writing in Mandarin

VUN ING JIA Bilingual Field Marketing Officer 137.

Brief Job Description: Define a region-specific marketing plan that supports the regional sales strategy

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

VPC CORPORATE SOLUTIONS INCORPORATED 11/f 100 West, Sen Gil Puyat Ave. Cor., Washington St., Pio Del Pilar, City Of Makati LAI MINH QUANG Vietnam-speaking Customer Service Officer 138.

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

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

SHAO, MINGLING Project Coordinator

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

Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

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

STC BUILDERS AND DEVELOPMENT CORP. 38 Atok St., 1, Santo Domingo, Quezon City

Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

No.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

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

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

QUALIFICATION AND SALARY RANGE

ROSENBERGER TECHNOLOGY PHILIPPINES INC. U-lz-17 19th Floor Tower 1, 9th Avenue Corner 26th Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills

Brief Job Description: Answering inquiries, resolving problems, fulfilling requests and maintaining database

CAO, SONGXI Chinese Customer Service Representative

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

Brief Job Description: Customer support and data base services.

IKUKAIWE, IZUCHUKWU INNOCENT Business Lending Development Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

VY VAN BINH Vietnamese Customer Service

A13

ESTABLISHMENT / ADDRESS

RIGHT CHOICE FINANCE CORP. 5e-1 Electra House Bldg., 115-117 Esteban Street, San Lorenzo, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer application with good oral and written communication skills.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Thursday, July 28, 2022

Basic Qualification: Foreign languages speaking

Brief Job Description: Maintains financial accounts by processing customer adjustments

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

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

PHAM THU GIANG Vietnamese Customer Service Representative 139.

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

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for, Fluent in Chinese Mandarin is an advantage.

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

*Date Generated: Jul 27, 2022 In the ad material of Notice of Filing of Application for Alien Employment Permits published on Jul 26, 2022, the name of YAW MOW SEN under the company JOLLIBEE FOODS CORPORATION, should have been read as YAP MOW SEN and not as published.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

A14 Thursday, July 28, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

Fast-tracking progress through the Internet

I

T is estimated that 4.9 billion of the almost 8 billion people in the world are currently using the Internet, according to the latest report from the International Telecommunication Union (ITU).

This makes the Internet a leading platform for the way people receive and disseminate information. In the virtual world, information may be accessed or sent instantly, even anonymously, anywhere in the world.

The fast rising number of people online suggests that measures taken during the pandemic—such as widespread lockdowns and school closures, combined with people’s need for access to education, news, government services, e-commerce and online banking—contributed to a Covid connectivity boost that brought more people online since the start of the pandemic, the ITU said.

The 2021 edition of Facts and Figures, ITU’s annual overview of the state of digital connectivity worldwide, shows the number of Internet users globally growing by more than 10 percent in the first year of the pandemic—by far the largest annual increase in a decade. The strong growth since 2019 was largely driven by increases in developing countries, where Internet penetration climbed more than 13 percent. In the 46 UN-designated Least Developed Countries (LDCs), the average increase exceeded 20 percent.

“These statistics show great progress towards ITU’s mission to connect the world,” said Doreen Bogdan-Martin, Director of ITU’s Telecommunication Development Bureau, which oversees ITU’s data and analytics work. “But a vast ‘connectivity chasm’ remains in the LDCs, where almost three quarters of people have never connected to the Internet. Women in LDCs are particularly marginalized, with roughly four out of every five still offline.” Many of these “digitally excluded” face formidable challenges including poverty, illiteracy, limited access to electricity, and lack of digital skills and awareness.

“While almost two-thirds of the world’s population is now online, there is a lot more to do to get everyone connected to the Internet,” said ITU Secretary General Houlin Zhao. “ITU will work with all parties to make sure that the building blocks are in place to connect the remaining 2.9 billion. We are determined to ensure no one will be left behind.”

In the Philippines, there are 79.66 million Internet users as of February 2022, which equates to 72.7 percent Internet user penetration rate, according to Statista.com. This means that 30 million Filipinos have no Internet connection. The absence of online connectivity in unserved communities means millions of workers, learners and citizens are excluded and left behind if no solution comes soon.

In his first State of the Nation Address on Monday, President Ferdinand “Bongbong” Marcos Jr. unveiled his administration’s plan to improve digital connectivity in the Philippines.

“As the world moves into rapid digitalization, the digital divide will be more pronounced. The depth and breadth at which these technologies will be transformative in our lives is fully expected,” the President said. He explained that universal connectivity will be a vital component in ensuring that no Filipino citizen is left behind.

“This will be done through the implementation of the National Broadband Plan, the common tower program, connecting our Geographically Isolated and Disadvantaged Areas via our ‘Broadband ng Masa’ project,” the President said, adding that all relevant digital modes—through a combination of terrestrial or submarine fiber optics, wireless and even satellite technology—will be utilized.

With the recent passing of the Public Service Act that removed restrictions on foreign investment, the President sees an increase in foreign direct investment in the information and communications technology sector, including the entry of Internet service providers, such as Elon Musk’s Starlink, which seeks to provide low-latency high-speed Internet service to remote areas where fiber-based ISPs cannot reach.

Most everyone knows there’s nothing new in the President’s plan to deploy a national broadband initiative. But if he makes himself accountable to attain this goal, and he succeeds in closing the digital divide that creates inequalities, Mr. Marcos will indeed be seen as a transformative leader. It would do well for the President to see this initiative through to the end. This is the best way for him to succeed in transforming sleeping communities into vital, prosperous centers for living, working and doing business.

Since 2005

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Faulty thinking John Mangun

OUTSIDE THE BOX

W

hile I am sure you think that it is merely the ramblings of a “pre-pre-dementia” Boomer, I cannot over emphasize the idea that you cannot genuinely understand anything without a historical perspective. And this lack of a historical perspective is only one of the human intellectual deficiencies.

Slavery has always been a nasty business, although it has been practiced since forever. Capturing and keeping other people under subrogation is hard work, so there has to be a good reason to do it.

Europeans first discovered sugar from the locals while on the Crusades and called it “sweet salt.” The first record of the word “sugar” in English is in the late 13th century.

The first widespread commercial production of sugar was in Brazil to feed the European addiction. The problem was that sugar production is a messy super labor-intensive business from harvesting to refining.

The problem was the heavy labor involved because the Europeans refused to work except as supervisors.

The solution was to bring in slaves from Africa. Every place that Africans spread around the world from the Caribbean to Fiji was primarily because of sugar and tobacco production. Without the huge demand for both sugar and tobacco, the massive slave trade of Africans to the Western hemisphere might never have existed.

We have trouble putting data in context. There is the “Misinformation Effect” that we are all subject to.

Psychologists Elizabeth Loftus and Geoffrey Loftus showed people car crash footage, then asked how fast the cars were going when they “smashed”/“collided”/“bumped”/ “hit”/“contacted.” Depending on which of those specific verbs was

used in the question, the estimated speed of the cars varied widely. That is how we are manipulated by the headlines.

We are becoming more unable to make rational judgements because of an inability to understand what we see. Pinpoint one piece of data/ information that would give you insight about the Philippine economy.

The unemployment rate? Labor Force Survey is a nationwide survey of 51,000 households asking about their employment. Unemployment in “developed” economies is based on the actual number of people receiving government benefits. You cannot compare the two in terms of accuracy. Fact: “Jobless claims rise to 8-month high: Americans collecting jobless benefits for the week ending July 9 rose by 51,000 to 1,384,000.”

Yet we compare the Philippines with the US, and it is apples and mangos. Can we in the Philippines talk data like this? “Sales of previously owned homes dropped 5.4 percent during the month of June, the fifth month in a row that we have seen a decline.” Home sales are a critical measure of an economy. What can we say about the Philippines? Honestly, nothing.

The Mismatch Theory: Moths evolved to navigate by the moon,

a good strategy until the invention of electric lamps, which now lead them astray.

There is the “Nocebo Effect” when harmless substances can make people feel ill if they “think” the substance is harmful. There are some nations that are under terrible economic stress because of too much debt. In The 1970s, one country was the Philippines owing the International Monetary Fund. Now China is the big, bad lender, and it has become a serious problem but not for the Philippines.

The Philippines’s total debt to China is 0.03 percent of gross domestic product or about $1 billion. Now we can make some valid comparisons.

Vietnam’s China debt is 5.7 percent of GDP and $14.8 billion. Malaysia’s is 2.6 percent and $8.5 billion, and Indonesia owes China 2 percent of its GDP and $22.2 billion.

Information ignorance is as easily solvable as turning on an electric light in a dark room. But faulty thinking is much more difficult to remedy and is much more dangerous. It can be like a painless cancer, a silent killer, which has no easy cure.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Argentines yearn for Evita, 70 years after her death

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By Daniel Politi | The Associated Press

UENOS AIRES—María Eva Noble says she is carrying out the legacy of her namesake as she labors in a soup kitchen in a working class neighborhood of Buenos Aires.

She was named after iconic Argentine former first lady María Eva Duarte de Perón, better known as Eva Perón, or Evita, who died 70 years ago Tuesday. The soup kitchen where Noble does volunteer duty in the Flores district gives daily lunches to about 200 people and is run by an organization that also carries the name of the late leader.

Though not related to Eva Perón, Noble says, “I carry Evita in my DNA.” And she is hardly the only one who feels this way.

Seven decades after her death, Evita continues to awaken passions in Argentina as her followers believe her image as a champion of the poor is more relevant than ever at a time when inequality and poverty are rising as the economy remains stagnated amid galloping inflation.

Evita has been the subject of countless books, movies, TV shows and even a Broadway musical but for some of her oldest, most ardent followers the connection with the actress turned political leader is much more personal.

Juana Marta Barro was one of dozens of people who lined up Tuesday morning to leave flowers and pay

her respects at Evita’s tomb, located in the Recoleta neighborhood in Argentina’s capital.

With tears in her eyes, the 84-year-old Barro, daughter of a housekeeper, recalled how her life in northern Tucumán province improved after Evita came on the political scene, and she suddenly received better shoes and school uniform.

“It was thanks to her that I had my first backpack,” said Barro, who still recalls the excitement of seeing Evita pass by her town on a train. “She is a torch that shines in my heart.”

Evita was born in a modest home in Los Toldos, a small rural town some 300 kilometers (186 miles) from the capital, where she moved to when she was 15 to pursue her dream of becoming an actress. A decade later, she met Juan Domingo Perón, a military officer who was a government official.

Evita was by his side when Perón won the 1946 presidential election and went on to take an unprecedented role as a powerful first lady, putting herself at the forefront of women’s rights causes, including suffrage that was approved a year later and setting up a foundation to help

workers and the poor. As much as Evita was loved, she was equally hated by many of the country’s wealthy and powerful who were wary of her growing popularity and influence.

Her time in the spotlight was intense but brief as she died of cervical cancer at age 33, which led to an outpouring of grief in the streets as the South American country went into mourning.

Perón ended up being elected president two more times and was the founder of a political movement—Peronism—that dominates Argentine political life to this day, with many leaders of disparate ideological views claiming loyalty to the former general.

“Perón was respected, he was obeyed—you either agreed with what he said or not. But Evita was loved or hated and ended up contributing a strong dose of emotion to Peronism,” said Felipe Pigna, a historian who has written extensively about the former first lady.

For some, that emotion has lived on. María Eva Sapire joined with almost 100 others a day before the anniversary of Evita’s death to dress up like her as part of a performance that paid homage to the former first lady.

Sapire was named after Evita and now she talks about her with her own daughter.

“When you listen to her speeches it’s amazing how so many things still fit so many years later,” Sapire said.

Others who came to admire Evita later in life, often say that it was precisely the feeling that she was advanced for her time in many issues, particularly women’s rights, that led them to join her legions of fans.

“Young people in particular see a rebel in Evita, a figure who didn’t bow her head or give up” and ended up dying “young and beautiful,” which contributed to the construction of a “pop icon,” Pigna said.

“Eva is a character who bewitches,” said Alejandro Maci, director of new series “Santa Evita” that premieres Tuesday on Disney’s streaming services based on a 1995 novel by Argentine writer Tomás Eloy Martínez.

Perón and Evita continue to be the subject of criticism both within Argentina and abroad. Some, for example, say Evita used money from the state to carry out what she described as charitable works to build up her own image as a saintly figure and help her husband grow in popularity. Others also point to claims that the couple received money from the Nazis to help perpetrators of war crimes hide out in Argentina after World War II. Cristina Alvarez Rodríguez, a great-niece of Evita who is now a minister in the Buenos Aires provincial government, said she is particularly moved by the number of “very young girls who have tattooed Evita on their skin” and now “have her as a guiding light.”

www.news.businessmirror@gmail.com

Climate disinformation leaves lasting mark as world heats

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By David Klepper | The Associated Press

N 1998, as nations around the world agreed to cut carbon emissions through the Kyoto Protocol, America’s fossil fuel companies plotted their response, including an aggressive strategy to inject doubt into the public debate.

“Victory,” according to the American Petroleum Institute’s memo, “will be achieved when average citizens ‘understand’ (recognize) uncertainties in climate science...

Unless ‘climate change’ becomes a non-issue... there may be no moment when we can declare victory.”

The memo, later leaked to The New York Times that year, went on to outline how fossil fuel companies could manipulate journalists and the broader public by muddying the evidence, by playing up “both sides” of the debate and by portraying those seeking to reduce emissions as “out of touch with reality.”

Nearly 25 years later, the reality of a changing climate is now clear to most Americans, as heatwaves and wildfires, rising sea levels and extreme storms become more common.

Last week, President Joe Biden announced moves intended to expand offshore wind, though he stopped short of declaring a national climate emergency. A Supreme Court ruling last month limited the federal government’s ability to regulate carbon emissions from power plants, meaning it will be up to a divided Congress to pass any meaningful limits on emissions.

Even as surveys show the public generally has become more concerned about climate change, a sizeable number of Americans have become even more distrustful of the scientific consensus.

“The tragedy of this is that all over social media, you can see tens of millions of Americans who think scientists are lying, even about things that have been proven for decades,” said Naomi Oreskes, a historian of science at Harvard University who has written about the history of climate change disinformation.

“They’ve been persuaded by decades of disinformation. The denial is really, really deep.”

And persistent. Just last month, even with record heat in London, raging wildfires in Alaska and historic flooding in Australia, the Science and Environmental Policy Project, a pro-fossil fuel thank tank, said all the scientists had it wrong.

“There is no climate crisis,” the group wrote in its newsletter.

Years before Covid-19 set off a wave of misinformation, or former President Donald Trump’s lies about the 2020 election helped spur an insurrection at the US Capitol, fossil fuel companies spent big in an effort to undermine support for emissions reductions.

Now, even as those same companies promote investments in renewable energy, the legacy of all that climate disinformation remains.

It’s also contributed to a broader skepticism of scientists, scientific institutions and the media that report on them, a distrust reflected by doubts about vaccines or pandemic-era public health measures like masks and quarantines.

“It was the opening of a Pandora’s Box of disinformation that has proven hard to control,” said Dave Anderson of the Energy and Policy Institute, an organization that has criticized oil and coal companies for withholding what they knew about the risks of climate change.

Starting in the 1980s and 1990s, as public awareness of climate change grew, fossil fuel companies poured millions of dollars into public relations campaigns denouncing the accumulating evidence supporting the idea of climate change. They funded supposedly independent think tanks that cherrypicked the science and promoted fringe views designed to make it look like there were two legitimate sides to the

dispute.

Since then, the approach has softened as the impact of climate change has become more apparent.

Now, fossil fuel companies are more likely to play up their supposedly pro-environmental record, touting renewables like solar and wind or initiatives designed to improve energy efficiency or offset carbon emissions.

Aggressive approaches to address climate change are now dismissed not on scientific grounds but on economic ones. Fossil fuel companies talk about lost jobs or higher energy prices—without mentioning the cost of doing nothing, said Ben Franta, an attorney, author and Stanford University researcher who tracks fossil fuel disinformation.

“We are living within an extended multi-decade campaign executed by the fossil fuel industry,” Franta said.

“The debate (over climate change) was manufactured by the fossil fuel industry in the 1990s, and we are living with that history right now.”

The impact of that history is reflected in public opinion surveys that show a growing gap between Republicans and other Americans when it comes to views on climate change.

While the percentage of overall Americans who say they’re concerned about climate change has risen, Republicans are increasingly skeptical. Last year, Gallup found that 32 percent of self-identified Republicans said they accepted the scientific consensus that pollution from humans is driving climate change, down from 52 percent in 2003.

By comparison, the percentage of self-identified Democrats that say they accept that human activities are leading to climate change increased from 68 to 88 over the same time period.

Fossil fuel companies deny any intent to mislead the American public and point to investments in renewable energy as evidence that they take climate change seriously.

ExxonMobil CEO Darren Woods told members of Congress last fall that his company “has long acknowledged the reality and risks of climate change, and it has devoted significant resources to addressing those risks.” ExxonMobil’s public claims about climate change, he said, “are and have always been truthful, factbased... and consistent” with mainstream science.

Asked about its role in spreading climate misinformation, a spokesman for the Southern Company pointed to recent expansions in renewable energy and initiatives meant to offset carbon emissions.

The 1998 “victory memo” laying out the industry’s strategy was created by the American Petroleum Institute. In a statement e-mailed to The Associated Press, API spokesperson Christina Noel said the oil industry is working to reduce emissions while also ensuring access to reliable, affordable energy.

“That’s exactly what our industry has been focused on for decades,” Noel said. “Any suggestion to the contrary is false.”

The 1998 memo is one of several documents cited by climate activists and some Democratic lawmakers who say they could be used to hold them legally responsible for misleading ratepayers, investors or the general public.

“It’s time for these companies to answer for the harm they have caused,” said Rep. Ro Khanna, DCalifornia.

Republicans, however, have said Democrats want to focus on climate misinformation to distract from failed environmental policies that are driving up gas and energy costs.

Opinion BusinessMirror

Thursday, July 28, 2022 A15

Pope in Canada prays for healing for ‘terrible’ colonization

By Nicole Winfield, Peter Smith & Rob Gillies | The Associated Press

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AC SAINTE ANNE, Alberta—Pope Francis prayed for healing Tuesday from the “terrible effects of colonization” as he led a pilgrimage to a Canadian lake that has been known to Native peoples for centuries as a sacred place of healing.

The prayer service at Lac Sainte Anne in Alberta was one of the spiritual highlights of the pontiff’s six-day visit to Canada to atone for the Catholic Church’s role in running residential schools that forcibly assimilated the country’s Indigenous children into Christian society. On Monday he apologized for the “catastrophic” ways families were torn apart; the following day he transitioned to praying to help them heal from the “wounds of violence.”

“In this blessed place, where harmony and peace reign, we present to you the disharmony of our experiences, the terrible effects of colonization, the indelible pain of so many families, grandparents and children,” Francis said on the shore of the lake.

“Help us to be healed of our wounds.”

The ceremony fell on the Feast of St. Anne, the grandmother of Jesus and a figure of particular devotion for Indigenous Catholics, who every year make pilgrimages to Lac Sainte Anne to wade into its waters. Francis highlighted the importance grandmothers have in Indigenous families, and recalled the critical role his own grandmother Rosa had in transmitting the faith to him as a youngster in Buenos Aires, Argentina.

“Part of the painful legacy we are now confronting stems from the fact that Indigenous grandmothers were prevented from passing on the faith in their own language and culture,” he said.

More than 150,000 Native children in Canada were taken from their homes and made to attend government-funded Christian schools from the 19th century until the 1970s in an effort to isolate them from the

influence of their families and culture. The aim was to Christianize and assimilate them into mainstream society, which previous Canadian governments considered superior.

In his first event in Canada, Francis blasted the residential schools Monday as a “disastrous error” and apologized at the site of a former school in Maskwacis for the “evil committed by so many Christians against the Indigenous peoples.”

Emotions were still raw a day later as those words were digested and dissected.

Murray Sinclair, the First Nations chairman of Canada’s Truth and Reconciliation Commission, welcomed the apology but said Tuesday that it didn’t go far enough in acknowledging institutional blame for the papacy’s own role in justifying European colonial expansion and the hierarchy’s endorsement of Canada’s assimilation policy.

“It is important to underscore that the church was not just an agent of the state, nor simply a participant in government policy, but was a lead coauthor of the darkest chapters in the history of this land,” Sinclair said in a statement.

Sinclair said church decrees led directly to the “cultural genocide” of Indigenous peoples by underpinning colonial policy and the Doctrine of Discovery, a 19th-century international legal concept has been understood to justify colonial seizure of land and resources by European powers.

Trip organizers pushed back on his criticism, insisting that Francis had indeed “accepted full responsibility for the Catholic Church’s role

in the residential school system.”

“His decision to apologize on Canadian soil, in a year where he faces significant health challenges and has had to cancel other international travel, demonstrates his understanding of the Catholic Church’s institutional responsibility to contribute to the reconciliation journey,” Neil MacCarthy, communications chief for the papal visit, told The Associated Press via e-mail.

He added that Canada’s Catholic bishops were working with the Vatican on issuing a new statement on the papal bulls associated with the Doctrine of Discovery, even though the Holy See has already said the decrees have no legal or moral authority in the church today.

“We understand the desire to name these texts, acknowledge their impact and renounce the concepts associated with them,” MacCarthy said.

Gerald Antoine, Dene national and Assembly of First Nations regional chief, said he had hoped the pope might renounce the decrees while in Canada but he was grateful for the attention the visit and apology have brought to a history that his own family experienced.

“The world is seeing we are telling the truth,” Antoine said. “Our family got uprooted, displaced and relocated. This is what our people have been saying. Nobody ever cared to listen.”

Francis didn’t dwell on the apology or the church’s fraught history during a morning Mass in Edmonton’s Commonwealth Stadium dedicated to St. Anne and grandparents, which drew some 50,000 people. Due to knee problems, the 85-year-old pontiff celebrated the Mass from a seated position behind the altar.

“Thanks to our grandparents, we received a caress from the history that preceded us: We learned that goodness, tender love and wisdom are the solid roots of humanity,” Francis said. “We are children because we are grandchildren.”

He later carried the grandparental theme to Lac Sainte Anne, where an estimated 10,000 pilgrims gathered at and around the shores of the lake amid vast acres of bright yellow canola flowers that bloom at the peak of summer. Some traveled from faraway parts of Canada to participate in the pilgrimage, which was restarting after two years of Covid-19 closures.

“I am happy he apologized,” said Myles Wood, who came from Saint Theresa Point in remote northern Manitoba with his wife, mother and members of their parish. “I’ve got a lump in my throat,” he said after Francis passed by and blessed the crowd with holy water from the lake.

Francis arrived to the sound of drums and ululating and paused for a minute of prayer at the water’s edge.

Ahead of the visit, Alberta health authorities issued a blue-green algae bloom advisory for the lake, warning visitors to avoid contact with the blooms and refrain from wading where they are visible.

The lake is known as Wakamne, or “God’s Lake,” by the Alexis Nakota Sioux Nation who live nearby, and Manito Sahkahiga, or “Spirit Lake,” by the Cree. The name “Lac Sainte Anne” was given to it by the Rev. Jean-Baptiste Thibault, the first Catholic priest to establish a mission on the site.

For Lorna Lindley, a survivor of the Kamloops residential school in British Columbia, where the first presumed unmarked graves were discovered last year, the day was difficult. She attended the morning Mass to honor her late parents, who were taken to a residential school at age 5 in a cattle truck.

“For myself it’s really heavy,” Lindley said. “It’s hard. No matter how many times you apologize, it doesn’t take away the hurt and pain.” Winfield reported from Edmonton, Alberta, and Gillies reported from Toronto.

US military making plans in case Pelosi travels to Taiwan

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By Lolita C. Baldor & Ellen Knickmeyer | The Associated Press

YDNEY—US officials say they have little fear that China would attack Nancy Pelosi’s plane if she flies to Taiwan. But the US House speaker would be entering one of the world’s hottest spots where a mishap, misstep or misunderstanding could endanger her safety. So the Pentagon is developing plans for any contingency.

Officials told The Associated Press that if Pelosi goes to Taiwan— still an uncertainty—the military would increase its movement of forces and assets in the Indo-Pacific region. They declined to provide details, but said that fighter jets, ships, surveillance assets and other military systems would likely be used to provide overlapping rings of protection for her flight to Taiwan and any time on the ground there.

Any foreign travel by a senior US leader requires additional security.

But officials said this week that a visit to Taiwan by Pelosi—she would be the highest-ranking US elected official to visit Taiwan since 1997— would go beyond the usual safety precautions for trips to less risky destinations.

Asked about planned military steps to protect Pelosi in the event of a visit, US Gen. Mark Milley, chairman of the Joint Chiefs of Staff, said Wednesday that discussion of any specific travel is premature. But, he added, “if there’s a decision made that Speaker Pelosi or anyone else is going to travel and they asked for military support, we will do what is necessary to ensure a safe conduct of their visit.

And I’ll just leave it at that.”

China considers self-ruling Taiwan its own territory and has raised the prospect of annexing it by force.

The US maintains informal relations and defense ties with Taiwan even as it recognizes Beijing as the government of China.

The trip is being considered at a time when China has escalated what the US and its allies in the Pacific describe as risky one-on-one confrontations with other militaries to assert its sweeping territorial claims. The

incidents have included dangerously close fly-bys that force other pilots to swerve to avoid collisions, or harassment or obstruction of air and ship crews, including with blinding lasers or water cannon.

Dozens of such maneuvers have occurred this year alone, Ely Ratner, US assistant defense secretary, said Tuesday at a South China Sea forum by the Center for Strategic and International Studies. China denies the incidents.

The US officials, who spoke on condition of anonymity to discuss sensitive security issues, described the need to create buffer zones around the speaker and her plane.

The US already has substantial forces spread across the region, so any increased security could largely be handled by assets already in place.

The military would also have to be prepared for any incident—even an accident either in the air or on the ground. They said the US would need to have rescue capabilities nearby and suggested that could include helicopters on ships already in the area.

Pelosi, D-Calif., has not publicly confirmed any new plans for a trip to Taiwan. She was going to go in April, but she postponed the trip after testing positive for Covid-19.

The White House on Monday declined to weigh in directly on the matter, noting she had not confirmed the trip. But President Joe Biden last week raised concerns about it, telling reporters that the military thinks her trip is “not a good idea right now.”

A Pelosi trip may well loom over a call planned for Thursday between Biden and Chinese President Xi Jinping, their first conversation in four months. A US official confirmed

plans for the call to The Associated Press on condition of anonymity ahead of the formal announcement.

US officials have said the administration doubts that China would take direct action against Pelosi herself or try to sabotage the visit. But they don’t rule out the possibility that China could escalate provocative overflights of military aircraft in or near Taiwanese airspace and naval patrols in the Taiwan Strait should the trip take place. And they don’t preclude Chinese actions elsewhere in the region as a show of strength.

Security analysts were divided Tuesday about the extent of any threat during a trip and the need for any additional military protection.

The biggest risk during Pelosi’s trip is of some Chinese show of force “gone awry, or some type of accident that comes out of a demonstration of provocative action,” said Mark Cozad, acting associate director of the International Security and Defense Policy Center at the Rand Corp. “So it could be an air collision. It could be some sort of missile test, and, again, when you’re doing those types of things, you know, there is always the possibility that something could go wrong.”

Barry Pavel, director of the Scowcroft Center for Strategy and Security at the Atlantic Council, scoffed at US officials’ reported consideration of aircraft carriers and warplanes to secure the speaker’s safety. “Obviously, the White House does not want the speaker to go and I think that’s why you’re getting some of these suggestions.”

“She’s not going to go with an armada,” Pavel said.

They also said that a stepped-up US military presence to safeguard Pelosi risked raising tensions.

“It is very possible that...our attempts to deter actually send a much different signal than the one we intend to send,” Cozad said. “And so you get into ... some sort of an escalatory spiral, where our attempts to deter are actually seen as increasingly pro-

vocative and vice versa. And that can be a very dangerous dynamic.”

On Monday, Chinese Foreign Ministry spokesperson Zhao Lijian said Beijing had repeatedly expressed its “solemn position” over a potential Pelosi visit. He told reporters that China is prepared to “take firm and strong measures to defend national sovereignty and territorial integrity.”

Milley said this week that the number of intercepts by Chinese aircraft and ships in the Pacific region with US and other partner forces has increased significantly over the past five years. He said Beijing’s military has become far more aggressive and dangerous, and that the number of unsafe interactions has risen by similar proportions.

Those include reports of Chinese fighter jets flying so close to a Canadian air security patrol last month that the Canadian pilot had to swerve to avoid collision, and another close call with an Australian surveillance flight in late May in which the Chinese crew released a flurry of metal scraps that were sucked into the other plane’s engine.

US officials say that the prospects of an intercept or show of force by Chinese aircraft near Pelosi’s flight raises concerns, prompting the need for American aircraft and other assets to be nearby.

The US aircraft carrier USS Ronald Reagan and its strike group is currently operating in the western Pacific, and made a port call in Singapore over the weekend. The strike group involves at least two other Navy ships and Carrier Air Wing 5, which includes F/A-18 fighter jets, helicopters and surveillance aircraft.

Prior to pulling into port in Singapore, the strike group was operating in the South China Sea. In addition, another Navy ship, the USS Benfold, a destroyer, has been conducting freedom of navigation operations in the region, including a passage through the Taiwan Strait last week.

Knickmeyer reported from Washington.

A16 Thursday, July 28, 2022

WIN TO DOE: WHERE’S P266-M NUKE STUDY?

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EN. Sherwin Gatchalian is pressing the Department of Energy to produce an updated report on a multimillion funded study on tapping nuclear energy, seen to open options to revive the mothballed Bataan Nuclear Power Plant (BNPP).

The senator said he is asking the DOE to also render a briefing on the department’s studies on using nuclear energy, noting that it was granted P266 million by the Duterte administration to conduct the study.

Gatchalian recalled that soon after assuming the chairmanship of the Senate Committee on Energy in the previous Congress, he learned that a huge amount was provided for a DOE study on the benefits, danger and opportunity in using nuclear energy, but he added that “until now” no report was submitted on that supposed study.

He stressed that such a scientific study is needed to guide lawmakers, now that President Ferdinand R. Marcos Jr. is considering an option to tap nuclear power to boost energy supply.

In his first State of the Nation Address (SONA) last Monday, President Marcos signalled it is time to study the option of putting up a nuclear power plant.

He noted that there are new technology options on smaller scale or modular nuclear plants that public-private partnerships can enter to bankroll the project, given the limited capacity of government.

At the Senate, the issue promptly divided the lawmakers for and against tapping nuclear energy.

Sen. Francis Tolentino declared he is 100 percent in favor of tapping nuclear for the country’s needs, adding that it is safe for the environment, will lower power bills and will not contaminate the air.

However, Sen. Risa Hontiveros contends that apart from its higher cost, nuclear power poses risks of a deadly accident, as what happened in nuclear power plants in Japan (Fukushima, 2011), Russia, the Ukraine and the US despite their stricter safety standards. Butch Fernandez

Salceda pushes RE lib in new Congress

By Jovee Marie N. dela Cruz @joveemarie

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HE 19th Congress should pass a bill liberalizing the renewable energy sector for foreign capital, according to Albay Rep. Joey Sarte Salceda, the senior vice chairman of the House Committee on Constitutional Amendments.

Salceda said he will work with the economic managers to see whether they can resolve the question of foreign capital in the country’s renewable energy sector through legislation of implementing rules.

“It’s urgent, because energy prices will continue to rise if we keep utilizing finite, non-renewable sources as fuel for our power plants. That’s basic economics.

Ultimately, these things run out or become more scarce, and when they do, prices go up,” Salceda explained.

Salceda said he will work with Energy Secretary Raphael Perpetuo Lotilla, “who was my best friend in the PGMA cabinet” to get liberalization done “piecemeal by rules, wholesale by constitutional amendments, whichever comes first and best.”

“I am also going to work with Senator Robinhood Padilla, who chairs constitutiona l amendments in the Senate, to get this through. We need both chambers,” he said.

Salceda said that his top priority as senior vice chair of the constitutional revisions panel will be “to liberalize the renewable energy sector, consistent with the President’s directive that we achieve energy security.”

Foreign capital, he stressed, “will be essential to expanding our renewable energy portfolio.

Our power generation sector is simply too oligopolistic, so there is very little incentive for innovation or expansion other than to pad profits. In many ways, that is the crux of the accusation of regulatory capture in our energy sector agencies. We have very few market players.”

“The credible threat of market competition, as well as new sources of fresh capital, innovation, net-

works, expertise, and strategic partnerships will boost our domestic power generation sector,” he added.

Under Article XII, Section 2 of the Constitution, “all forces of potential energy” are owned by the State. As such, “The State may directly undertake such activities, or it may enter into coproduction, joint venture, or production-sharing agreements with Filipino citizens, or corporations or associations at least sixty per centum of whose capital is owned by such citizens.”

“Obviously, the constitutional provision is insane. Imagine. All forces of potential energy. No exceptions made. Eh, everything has force of potential energy. So, it fails the very basic test of practicality in law. I don’t know if the scientists were okay with that broad provision, but it’s holding us back,” Salceda said.

“So, the simple fix is probably to just say, ‘unless provided by law,’” he said.

In 2020, Salceda said the power generation mix in the Philippines was 57 percent from coal-fired facilities, 21 percent from renewable energy, 19 percent from natural gas, and 2 percent from oil.

“We import around 80 percent of our coal needs. Natural gas will soon be imported as Malampaya runs out. So, unless we are able to tap our renewable energy source soon, we’re in very bad structural shape.”

“And we need USD 121 billion in renewable energy investments until 2040 to achieve clean energy. That’s around P338 billion in annual investments in energy. Currently, that’s about the entire capex of all energy companies in the countr y for all sources, including coal and gas,” he added.

“World energy prices are up 82.33 percent year on year. That might get better in the short run, as the Russia-Ukraine situation abates, but over the long term, if we don’t change our energy mix, we’re doomed to permanent baseload shortages, brownouts, and high costs of power. And that will hold industrialization back bigtime,” he said.

To boost connectivity, DICT eyes satellite internet services

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By Lorenz S. Marasigan

@lorenzmarasigan

HE government intends to procure satellite internet services—including that of Elon Musk’s SpaceX—by the first quarter of 2023 to provide connectivity to farflung areas in the country.

At a press briefing on Wednesday, Department of Information and Communications Technology (DICT) Secretary Ivan John Uy said he is now preparing the terms of reference for the auction for satellite internet services for far-flung areas for the first half of 2023.

He noted, however, that the ICT department is still in the preparation stage, pinpointing which communities will benefit from the project.

“We have to go through the procurement process. We cannot start with the procurement process unless we have proposals

sent out in terms of reference and so on. We are preparing those, but in the meantime, they need to get their earth stations and equipment and their operations running,” Uy said.

The government will have to identify the communities that will benefit from the project, particularly those deemed “geographically isolated and disadvantaged,” based on the data from the Department of the Interior and Local Government (DILG), he added.

“We very well know that those areas, because of their remoteness and because they are on the sadder

end of the digital divide . . . cannot afford technology such as this. The government will have to come in.

We do have funds in order to deploy this free WiFi program. And we will work with the local governments on how we can, not only set up the equipment, set up the connectivity and provide the linkage, but look at how these could be sustainable,” Uy explained.

He did not disclose how much the remaining budget for the year is, but said DICT will ask Congress to allot a specific budget for this project, which will be placed under the Broadband ng Masa Program.

Uy said the budget needs to be an “integrated package” as the government is looking at providing the connectivity service in areas that also don’t have electricity.

“What will happen is we will provide and shoulder the community until such time that the DSWD can give feedback that those communities have already grew out of poverty,” he said, noting that indicators include “increased economic activity such as e-commerce, communication, and other online services.”

The government intends to provide the free satellite connectivity for about a year or two, and then “perhaps the government can cut the umbilical cord” after signs of progress.

The budget, Uy said, will depend on “how much [legislators] are willing to provide.”

“We are optimistic because we are more proactive than we have been. We anticipate this technology so I am already preparing all the documentation and requirements as of now so it will be ready to launch. Elon Musk is very fast in sending these satellites up there and very fast in deploying those things down here,” Uy said.

SpaceX Senior Manager Rebecca Hunter, the local representative of Starlink, said the group intends to start commercial operations by the last quarter of 2022.

“We really can make a lot of positive changes, positive impact in the Philippines,” she said.

Based on prevailing market prices, a Starlink Kit costs $599 for installation and $99 per month for the connectivity services.

QUAKE UPDATE Undersecretary Renato Solidum, director of the Philippine Institute of Volcanology and Seismology (Phivolcs), briefs journalists on the magnitude 7.0 earthquake that hit Luzon on Wednesday morning (July 27, 2022). Solidum said areas affected by landslides should be avoided, and structures in quake-hit areas should be thoroughly checked for safety. NONOY LACZA

Neda chief pitches rail for mass transport push

By Cai U. Ordinario @caiordinario

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UILDING railways will make the Philippines a more inclusive country as mass transport provides the poor a means to reach more economic opportunities at a fraction of the cost, according to the National Economic and Development Authority (Neda).

At the sidelines of the Post-State of the Nation Address (SONA) Economic Briefing, Socioeconomic Planning Secretary Arsenio M. Balisacan told reporters that railways remain among the cheapest ways to transport goods and services.

Undertaking rail projects this time around would be more feasible for the Philippines since there is more financial headroom, he added. This will also benefit millions of

Filipinos, including the poor, who are looking for affordable transportation options to get to and from work or to sell their wares.

“We talk about inclusivity but you don’t provide the cheapest way of moving goods and services,” Balisacan said. “Railways are among the cheapest (means of transport compared to) highways, roads, and airplanes.”

In his presentation at Tuesday’s briefing, Public Works Secretary Manuel M. Bonoan said the rail projects of the administration will include but will not be limited to the North-South Commuter Railway (NSCR); Light Rail Transit (LRT) Line 1 Extension to Cavite; the Metro Manila Subway; and Metro Rail Transit (MRT) Line 7, among others.

Undertaking these kinds of in-

frastructure projects in the next six years will bring the country closer to the dream of reducing poverty down to single-digit at 9 percent.

The poverty incidence was at 23.7 percent in the first semester of 2021.

Efforts to lift millions of Filipinos from poverty is the overarching goal of the country’s Philippine Development Plan (PDP). Specifically, Balisacan said, the country’s medium-term socioeconomic blueprint aims to raise productivity to allow poor Filipinos to escape poverty.

“Our intention here and our aspirations is not to just achieve high growth, sustain a growth of 6.5 percent to 8 percent, even more importantly (we want) to ensure that growth is more inclusive this time than in the previous years. (This is) so that our Filipino people, the

majority of poor people, will also rise with the tide,” Balisacan said.

He noted, meanwhile, how vital it is to tap the private sector in undertaking the railway projects, especially through Public-Private Partnerships (PPPs), which allow the government to access not only resources, but also innovations that will allow for affordable and high quality railway projects.

This will also entail amending the Build-Operate-Transfer (BOT) Law and its Implementing Rules and Regulations (IRR).

Balisacan explained that addressing the weaknesses of the BOT Law and the “problematic” IRR, which was just revised by the previous administration, will encourage the private sector to undertake these PPPs. See “Neda,” A2

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, July 28, 2022

CREIT net income surges to P601M in January-June

C

By VG Cabuag

@villygc

iticore Energy REIT Corp.

(CREIT), the real estate investment trust (REIT) of Citicore Renewable Energy Corp., on Wednesday said it recorded a net income of P601 million in the first half, more than five times the P89 million it earned last year.

The company said its gross revenues for the first half rose to P664 million, also five times higher than last year, which mainly consisted of lease income from the guaranteed base lease from various solar plant companies.

“As the country’s first publicly-

listed renewable energy REIT, we are now seeing the recurring rental revenue stream from our green asset portfolio. As detailed in the REIT plan, we are committed to pay a steady dividend stream, with strong upside potential from new asset infusion from the sponsor moving

forward,” said Oliver Y. Tan, CREIT president and CEO. Last July 20, the company declared cash dividends of another P0.044 per share, representing the income for the second quarter, payable on September 14. Shareholders on record as of August 19, 2022 are entitled to said cash dividends.

The amount represents 107 percent of the distributable income for the second quarter and indicates an annualized yield of 7.33 percent, excluding special dividends, based on the July 20 closing price of P2.38 per share.

This is the second cash dividend for the year, bringing total cash dividends declared to P0.088 per share for the first six months of the year, more than double than the dividends declared and paid for the full year of 2021.

With the dividend payout, CREIT said it is well-positioned to achieve

the 7 percent annualized yield as per REIT plan, incorporating the possible upside from the variable lease at end of the year which will then be separately declared as special dividend, the company said.

“New fresh assets to be infused are expected to increase CREIT’s revenue base and earnings, which will eventually translate into higher dividends for our investors over the long-term,” Tan said.

CREIT’s portfolio currently consists of a solar power plant in Clark Freeport Zone, Pampanga, which it built on a land subject to a 25-year lease with the Clark Development Corp., as well as land leased to solar power plant operators, comprising of Company-owned parcels of land in Brgy. Armenia, Tarlac City and leasehold rights over parcels of land in Brgy. Dalayap, Tarlac City; Toledo City, Cebu; and Silay City, Negros Occidental.

Nlex allots ₧150M for SCTEX project

By Lorenz S. Marasigan @lorenzmarasigan

N

lex Corp. said on Wednesday it is spending P150 million in a road raising project to mitigate the risk of flooding in a 640-meter stretch of the SubicClark-Tarlac Expressway (SCTEX).

“We are always on the lookout for solutions that can help improve the reliability and safety of our roads and other structures. By elevating this portion of SCTEX, motorists can expect to traverse a safer and more accessible route especially during inclement weather conditions,” Nlex Corp. President Luigi

Danone raises sales forecast

D

anone SA lifted its fullyear sales forecast amid strong demand for baby formula and bottled water even after the company increased prices.

The maker of Activia yogurts and Evian packaged water said Wednesday that full-year comparable sales growth is expected to be 5 percent to 6 percent, up from its previous guidance of 3 percent to 5 percent.

The Paris-based company has been pushing up prices as it seeks to recoup its own climbing costs, and shoppers so far seem to be accepting the hikes. Danone follows rivals including Unilever Plc and Reckitt Benckiser Group Plc which have also raised their forecasts after successfully shunting higher prices onto shoppers grappling with the worst inflation in decades.

Despite a 6.8-percent increase in second-quarter selling prices, Danone still sold more products.

This was partly as it sent more Neocate and Aptamil baby formula to the US to help address a countrywide shortage. Growth in North America was also driven by coffee creamers, yogurts and plant-based foods.

Chief Executive Officer Antoine de Saint-Affrique is in his first year at the world’s largest yogurt maker and is planning a turnaround of Danone, which has underperformed in recent years. Bloomberg News

Bautista said. The project involves the construction of new pavement on top of the existing one and addition of new culverts or drainage structures.

Portions of the 640 -meter stretch will be raised to as high as two meters by filling them with layers of materials.

Once completed, the project will enable the infrastructure to be more resilient and further sustain severe weather events.

The project is expected to be finished by the third quarter of 2022.

Nlex Corp. is closing portions of the lane due to the project. It has deployed traffic management and

safety measures to guide motorists and reduce travel delays.

In June, the company announced that it plans to spend P1.2 billion on capital investments this year to enhance and maintain the North Luzon Expressway (Nlex) System.

Bautista said the capital outlays will be used for various initiatives to upgrade its infrastructure, toll collection system, and account management system.

These include the upgrade of the expressway’s core system and equipment, providing for a faster processing of lane transactions for RFID users, which constitute 70 percent of the expressway’s

customers. Aside from conducting software upgrades and system migration, Nlex Corp. will also replace its toll system equipment within the year.

Roughly 100 toll system equipment along the Nlex will be upgraded such as toll fare indicators, lane status indicators, traffic control gates, automatic vehicle classification devices, and loop detectors.

The company will equip its toll plazas with new traffic control gates, automatic vehicle classification devices, lane status indicators, and loop detectors, boosting operational efficiency and transaction accuracy.

Mekeni starts selling tocino in US

By Noel G. Tulabut

Special to the BusinessMirror

N

ew York City—Following the retail success of its marine products in the West Coast, Porac-based food processor Mekeni Food International (Mekeni) has started selling its tocino and marine products in Northeast America.

From sel l ing k i k i a m (a lso known as fish rolls) and fish balls in California and Nevada in January this year, the company will now sell the same products here, New Jersey, Connecticut and other parts of Northeast America.

“We want our kababayans, especially those who have not gone back to our country, to feel closer to home by bringing our products.

And we hope, that somehow helps them cope with homesickness,” Mekeni President Prudencio Garcia said.

The multi-awarded food maker recently gave away bags containing kikiam, fish, fish balls, and tocino to about 100 nannies, caregivers and housekeepers. They were distributed during “Pagpupugay”, a first-ever tribute to care service workers in Northeast America organized by the Philippine Consulate General New York with Mekeni and other partner organizations.

Consul General Elmer G. Cato welcomed the latest business

B1

Tomohiro Okada asks Kazuo camp to vacate casino T

omohiro Okada, the majority owner of the ultimate parent company of Okada Manila, has directed the camp of his father Kazuo Okada to immediately vacate the $3.3-billion integrated resort and casino in Entertainment City in Parañaque.

Tomohiro said he only recognizes the former board of directors of Tiger Resorts Leisure and Entertainment Inc. (TRLEI), the operator of Okada Manila, led by Byron Yip. Tomohiro’s statement came almost two months after his father took over the management of the facility.

“As the majority controlling shareholder in OHL [Okada Holdings Ltd.], I, Tomohiro Okada, condemn and disown the acts of my father Kazuo and his Filipino and Japanese cohorts in Okada Manila. Their perversion of the law must be put to an end. I am organizing the boards of OHL, UEC and TRAL to immediately address this issue, work with our legal teams, and seek redress from the High Court of the Philippines to put to rest the Kazuo group’s futile attempt at what is truly a shameful corporate heist,” Tomohiro said in a statement.

“I do not recognize the illegitimate occupation of Okada Manila or any of their claims that they now manage and control Okada Manila.

I only recognize the legitimate board of TRLEI led by Byron Yip, who was duly elected by shareholders, to run Okada Manila. My father’s minority voting stakes in OHL does not give him the right to control Okada Manila — much less appoint anyone as part of its board.”

Tomohiro has 53.27-percent voting rights in OHL; Kazuo, 46.38 percent; and Takako Okada, Kazuo’s estranged wife, holds 0.36 percent.

OHL owns Tokyo-listed Universal Entertainment Corp. (UEC), which then owns Hong Kong-based Tiger Resort Asia Ltd. (TRAL), the parent firm of TRLEI. In May, Kazuo’s group, which involved some of the ousted board of TRLEI including businessman Antonio Cojuangco Jr., has taken over the management of Okada Manila, ousting all of the operator’s board

of directors and replacing them with new ones including Kazuo as chairman. It managed to take over the casino after the Supreme Court issued its Status Quo Ante Order, which directed the management to revert to where they were in 2017, the time when Kazuo was ousted as its chairman.

TRLEI legal counsel Estrella Elamparo, in a forum, insisted that the takeover was illegal since Kazuo has no share in Tiger Resort Asia.

“The ownership structure is clear, Kazuo only has a minority stake in the parent company and does not own a single share in Okada Manila,” Elamparo said.

“The ‘Okada’ in Okada Manila does not pertain to him (Kazuo).

Okada is the family. And the Okada family business has long been controlled not by Kazuo Okada but by his son Tomohiro Okada.”

Meanwhile, the Kazuo group said Okada Manila may gain from the lockdown in Macau, Asia’s gambling destination. He said the country’s gross gambling revenues (GGR) may return to 2019 levels by next year.

“Should projections stay on track, the Philippines will be able to match Singapore in terms of GGR by next year and will potentially overtake it the following year to become the second largest market in Asia,” it said.

“As the country’s largest integrated resort, Okada Manila is one of the best travel and tourist destinations that the Philippines has to offer with world class hotel amenities, incomparable dining experiences and top-ofthe-line gaming facilities,” it added.

As of May, 33 permanent tenants have already been operating in the hotel with 11 more expected to open until August 2022, it said.

Okada Manila has been chosen as the location of World Travel Expo Manila 2022, an annual event that hosts stakeholders from both the local and international tourism industry in the Philippines.

In partnership with Okada Manila, Ad Asia Events will be utilizing 5,758 square meters of hotel space with 200 booths to be put on display for the duration of the event. VG Cabuag

Globe sends help to earthquake-hit areas

G

Photo from www.mekeni.com

venture of the Porac-based food company.

“It is just the beginning for Mekeni. Our fellow Filipinos here can expect more products from us in the future,” Garcia said during the awarding of Gawad Alab ng Lahi organized by Hiraya Foundation and the Philippine Consulate General New York.

In January, Mekeni started selling its marine products in California and Nevada through its partner, Island Pacific. It has since gained the patronage of FilipinoAmerican communities in various parts of the West Coast.

Bringing food products to the United States was met with enthu-

siasm by the Fil-Am communities.

In its FaceBook account, grocery chain Island Pacific said: “They (Mekeni) deliver the best-tasting and most authentic Flat Fish Ball and Kikiam in the market! Mekeni Fishball and Kikiam is 100% made in the Province of Pampanga and has been the most dominant street food brand in the market.”

Mekeni food products can be bought at Island Pacific Stores stores in Hayward, Long Beach, Temecula, Santa Clarita, Cerritos, Elk Grove, Pittsburgh, Vallejo, Union City, Fresno, National City, Oxnard, Canoga Park, West Covina, all in California as well as in Las Vegas, Nevada.

lobe is closely monitoring the aftermath of the powerful quake that struck North Luzon and other parts of the island group early Wednesday morning, sending connectivity support to the worst-hit areas.

The copmany deployed a Libreng Tawag, Libreng Charging and Libreng WiFi station at the Bangued Plaza in Abra, adjacent to Lagangilang town, epicenter of the 7.0-magnitude temblor that damaged buildings, heritage sites and other structures across the province.

Affected residents may place free calls to loved ones and charge their mobile phones at Globe’s free call, charging and connectivity station, which was established in collaboration with the local government of Bangued. This service will remain available for at least three days.

In the spirit of #AlagangGlobe, Globe also activated customer care platforms to address concerns from customers in affected areas.

Globe’s service has been stable as the quake had no impact on its network infrastructure. While certain areas experienced power outages due to the temblor, commercial power remains available in critical Globe sites.

“Our technical teams immediately assessed our network and we found no damage on our infrastructure.

Our network is stable. Customers, emergency workers and local authorities in quake-hit areas may expect reliable connectivity, which is crucial in addressing urgent concerns in the aftermath of this powerful temblor,” said Globe Chief Sustainability and Corporate Communications Officer Yoly Crisanto.

Meanwhile, for the safety of its employees, Globe had to close its stores in Vigan and Candon in Ilocos Sur, San Fernando in La Union, and the Globe Easy Hub in Laoag. Globe will issue further announcements on the status of these stores as we work towards immediate normalcy of their operations.

B2

Thursday, July 28, 2022

Companies BusinessMirror

Agfa wants a slice of PHL medical imaging market

B

elgium-based Agfa Group said Wednesday that it has forged a partnership with Mondial Medical Technologies (MTT) as it has set its sights on the local medical imaging market.

The company unveiled its European-sourced mobile imaging equipment in the Philippines. Touted as a new force in mobile direct radiology (DR), the newly-launched DR100s extends its patient-centered benefits in local hospitals and clinics.

The company said the mobile digital radiology system features “excellent” DR image quality that enables “first-time right” imaging at low radiation dose that allows for faster workflow in the department, better patient care and diagnosis.

The machine is very mobile and can be maneuvered even in small spaces with its Zero Force Tech-

nology. Its agility enables staff members to easily do imaging, in the bedside, wards, ICU and operating rooms.

Agfa and MTT said they see “substantial potential” in the launch of this product in the country on the back of the growing local medical imaging market.

According to data from Coccir, this sector has a market value of P1.75 billion in 2021, and is expected to grow by 7.5 percent up to 2024.

The total DR business here alone is estimated at $1.2 billion and that includes mobile x-rays, floor mounted, ceiling mounted, DR Ret-

rofits and digital RF. “For the Philippines, we hope to achieve at least for this type of products—the motorized, mobile and the flat panel detectors or the retrofits—25 percent market share,” Edison Laserna, Agfa Healthcare’s country business development manager for the Philippines, told the BusinessMirror on the sidelines of the product’s launch in Taguig City.

“Hopefully with the partnership with Mondial, we should be able to successfully get that market share.”

MFT Group, the holding company of MTT, is bullish on achieving such goal. Its market intelligence shows “great opportunities” in the medical imaging industry given the country’s growing population and increasing demand for medical imaging services, according to MFT Group CEO Mica F. Tan. “We’ve seen how machine like this is very cost-efficient for our hospitals. It is very seamless for patient data. We want to provide our doctors better tools that can

help them make do their jobs better and simpler. And this DR100S allows us to do that,” she said.

“We are confident that this partnership with Agfa will provide better diagnosis that will ultimately lead to better decision-making by our medical doctors and thus enhancing patient experience.”

The Mobile D100s will be offered to both private and government hospitals in all regions of the country.

“Our team from Agfa, together with Mondial, will be touring around the Philippines to show the product to our customers,” Laserna noted.

Having already serviced and supplied 500 hospitals and institutions nationwide, MTT expects positive clientele experience of the DR100s and how the machine can simplify the requirements of both hospital staff and patients alike.

“Our experts were very impressed with it and this is the type of innovation we would like to see more of here in the local setting.

This is only the beginning,” Tan said. Roderick L. Abad

Asia Brewery, Shell Energy ink deal mutual funds

By Lenie Lectura @llectura

A

sia Brewery Inc. (ABI), has tapped Shell Energy Philippines Inc. for the supply of renewable energy (RE) to the the Lucio Tan-owned diversified beverage company’s manufacturing facilities in Luzon.

The power supply deal, which involves 15 megawatts (MW), was signed by ABI President and COO Michael G. Tan and Shell Energy President and COO Bernd Krukenberg.

The RE contract is one way to reduce ABI’s carbon footprint. Other similar moves, it cited, include the recycling of broken or waste glass to produce new glass bottles. Another material used in manufacturing bottles is lahar, which comes from the 1990 Mt. Pinatubo eruption.

ABI said nothing is wasted and thrown, even powdered glass wastes, which are utilized in their pavements and walkways within the Cabuyao, Laguna plant premises.

Also, ABI cited other sustainable projects aimed at strengthening its sustainability thrust. These include its regular tree-planting activities, which started in 2016.

Its mission is to plant one million trees a year, with a cumulative target of 8.4 million trees planted by 2020 in Sta. Cruz, Ilocos Sur. With the help of local farmers, the company can plant fuelwood species for traceability and sustainability of wood for curing tobacco.

Shell Energy, for its part, aims to be a net-zero emissions energy business by 2050 and is committed to helping customers with cleaner energy solutions to enable them to lower their net emissions.

It offers gas, power including renewable power, and a range of environmental products to offset unavoidable emissions from energy use.

The Department of Energy, under the latest Philippine Energy Plan, aims to increase to 35 percent the share of renewables in the country’s power mix by 2030 and to 50 percent by 2040. This means an additional renewable capacity of 73.9 gigawatts (GW ) must be realized over the next two decades.

July 27, 2022

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 198.59 -3.28% -10.15% -6.5% -14.8% ATRAM Alpha Opportunity Fund, Inc. -a 1.2923 -3.12% -8.07% -4.23% -22.35% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7089 -4.23% -14.05% -9.21% -16.34% Climbs Share Capital Equity Investment Fund Corp. -a 0.6937 -5.71% -11.16% n.a.

-8.3% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6531 -8.2% -10.45% n.a.

-15.28% First Metro Save and Learn Equity Fund,Inc. -a 4.5189 -0.4% -7.28% -4.53% -12.81% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6693 -9.85% -7.19% -0.61% -14.55% MBG Equity Investment Fund, Inc. -a 76.48 -20.85% -14.22% n.a.

-19.01% PAMI Equity Index Fund, Inc. -a 41.0485 -2.12% -9.02% -5.07% -14.71% Philam Strategic Growth Fund, Inc. -a 425.38 -3.68% -9.16% -5.29% -15.04% Philequity Dividend Yield Fund, Inc. -a 1.2026 10.25% -4.51% -2.03% -11.33% Philequity Fund, Inc. -a 31.2052 -1.29% -8.31% -4.16% -14.73% Philequity MSCI Philippine Index Fund, Inc. -a 0.8082 -0.86% -9.48% n.a.

-14.15% Philequity PSE Index Fund Inc. -a 4.2533 -1.14% -8.39% -4.41% -14.26% Philippine Stock Index Fund Corp. -a 708.67 -1.54% -8.46% -4.48% -14.46% Soldivo Strategic Growth Fund, Inc. -a 0.6205 -5.67% -13.77% -7.6% -17.55% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.1681 -3.62% -11.13% -6.05% -16.09% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8066 -1.84% -8.74% -4.74% -14.6% United Fund, Inc. -a 2.9681 -1.66% -8.52% -3.86% -13.65% Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a 0.9802 -3.68% n.a. n.a.

-15.7% Philippine Stock Index Fund Corp. -a 862.84 n.a. n.a. n.a. n.a.

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 95.5498 -1.11% -8.23% -4.1% -14.29% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.913 -24.81% -2.92% -2.35% -18.95% Sun Life Prosperity World Voyager Fund, Inc. -a $1.4793 -18.74% 3.71% 4.51% -19.88% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.538 -6.45% -5% -3.03% -9.1% ATRAM Philippine Balanced Fund, Inc. -a 2.077 -2.41% -4.52% -2.78% -8.96% First Metro Save and Learn Balanced Fund Inc. -a 2.4754 -0.14% -3.23% -1.58% -8.01% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1922 3.78% n.a. n.a.

-8.04% NCM Mutual Fund of the Phils., Inc. -a 1.8539 -1.66% -2.19% -0.73% -8.07% PAMI Horizon Fund, Inc. -a 3.3643 -4.63% -4.46% -2.34% -10.65% Philam Fund, Inc. -a 15.0872 -4.64% -4.57% -2.39% -10.44% Solidaritas Fund, Inc. -a 1.9332 -1.94% -4.21% -2.27% -8.87% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2417 -3.47% -6.78% -3.33% -11.12% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8448 1.15% -6.2% -2.87% -11.47% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.8939 -6.38% -5.26% n.a.

-9.69% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8053 -5.37% -8.51% n.a.

-14.74% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7928 -5.02% -8.89% n.a.

-15.11% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03396 -11.31% -3.22% -1.06% -10.49% PAMI Asia Balanced Fund, Inc. -b $0.9187 -17.28% -2.92% -1.77% -13.91% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.0053 -16.14% 1.71% 2.84% -16.59% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.028 -14.69% -1.49% 0.12% -14.23% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 374.22 0.44% 2.08% 2.29% -0.02% ATRAM Corporate Bond Fund, Inc. -a 1.8904 -1.78% -0.26% 0% 0.3% Cocolife Fixed Income Fund, Inc. -a 3.2336 -0.02% 1.84% 3.25% -0.32% Ekklesia Mutual Fund Inc. -a -3.8% -0.37% 0.69% -3.33% 2.1765 First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4008 -1.76% 1.02% 1.64% -1.04% Philam Bond Fund, Inc. -a 4.1883 -6.76% -0.41% 0.53% -4.72% Philam Managed Income Fund, Inc. -a 1.3179 0.05% 2.48% 2.74% -0.09% Philequity Peso Bond Fund, Inc. -a 3.8759 -2.65% 1.62% 2.2% -2.27% Soldivo Bond Fund, Inc. -a 1.0112 -2.64% 2.24% 1.74% -1.65% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1377 -2.45% 1.52% 2.65% -1.56% Sun Life Prosperity GS Fund, Inc. -a 1.6969 -3.08% 0.64% 1.96% -1.95% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $481.74 -1.07% 1.52% 1.76% -1.6% ALFM Euro Bond Fund, Inc. -a Є210.78 -4.31% -1.24% -0.09% -4.2% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0999 -8.35% -2.5% -0.47% -8.64% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0243 -6.9% -1.85% -0.49% -6.54% PAMI Global Bond Fund, Inc -b $0.9089 -13.75% -5.82% -3.3% -11.14% Philam Dollar Bond Fund, Inc. -a $2.2405 -11.13% -1.7% 0.14% -10.58% Philequity Dollar Income Fund Inc. -a $0.060686 -3.74% 0.69% 1.17% -2.58% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.8288 -11.33% -2.97% -1.21% -11.49% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 132.33 1.49% 2.19% 2.55% 0.87% First Metro Save and Learn Money Market Fund, Inc. -a 1.0647 1.03% 1.54% n.a.

0.66% Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3274 1.59% 2.07% 2.46% 0.9% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0646 0.62% 1.12% n.a.

0.38% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a 44.5153 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2449 -6.3% n.a. n.a.

-9.98% Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a $0.8281 -16.35% n.a. n.a.

-14.63% a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

d - in Net Asset Value per Unit

(NAVPU).

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

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

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 27, 2022

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS IREMIT MEDCO HLDG PHIL STOCK EXCH SUN LIFE VANTAGE

458,420 253,160,782 4,812 303,231,412.50 318,640 598,784 42,710,925 202,574 11,207,570.50 7,556,082.50 147,360 10,400 31,000 10,140 2,800 334,974 232,000 17,520

-292,710 81,308,541 -4,812 -10,071,404.50 16,140 172,216 4,318,095 21,426 690,912 265,499.50 89,930 232,000 -

INDUSTRIAL AC ENERGY 8.3 8.31 8.31 8.33 8.18 8.3 4,071,200 33,612,406 0.95 0.96 0.94 0.97 0.94 0.95 52,000 49,060 ALSONS CONS 31.75 31.8 31.85 32.05 31.65 31.8 843,700 26,906,375 ABOITIZ POWER 1.73 1.74 1.76 1.76 1.71 1.74 2,829,000 4,902,180 RASLAG BASIC ENERGY 0.415 0.42 0.425 0.435 0.415 0.42 10,770,000 4,601,150 FIRST GEN 17.2 17.32 17.42 17.44 17 17.2 117,200 2,020,198 FIRST PHIL HLDG 64.75 64.85 64.8 64.85 64.8 64.85 8,330 539,865.50 MERALCO 365 366 359 366 355.2 366 138,590 50,463,888 15.36 15.38 15.66 15.66 15.3 15.36 708,500 10,890,928 MANILA WATER 2.82 2.87 2.9 2.91 2.82 2.82 1,458,000 4,183,440 PETRON 4.8 4.95 4.85 4.99 4.85 4.95 284,000 1,377,740 PETROENERGY 9.6 9.73 9.1 9.73 9.1 9.73 7,700 74,025 PHX PETROLEUM SYNERGY GRID 12.18 12.24 12.2 12.28 12.16 12.18 1,446,100 17,676,198 PILIPINAS SHELL 17.6 18 18 18 17.9 18 18,000 323,120 SPC POWER 9.85 9.89 9.75 9.9 9.75 9.85 72,800 715,650 SOLAR PH 1.63 1.64 1.65 1.66 1.62 1.64 6,756,000 11,036,680 15.64 18.32 18.36 18.36 18.36 18.36 2,800 51,408 VIVANT 5.7 5.72 5.7 5.75 5.65 5.72 2,023,200 11,555,584 AGRINURTURE 2.57 2.6 2.45 2.7 2.45 2.58 929,000 2,423,780 AXELUM 23.3 23.45 22.6 23.5 22.6 23.3 710,500 16,367,715 CENTURY FOOD DEL MONTE 13.32 13.7 13.5 13.8 13.3 13.7 10,300 139,356 DNL INDUS 7.03 7.04 7.06 7.08 7.04 7.04 317,300 2,237,330 EMPERADOR 18.82 18.84 19 19.06 18.78 18.84 4,842,700 91,247,312 SMC FOODANDBEV 44.2 44.25 43.8 44.4 43.6 44.2 475,900 20,799,835 0.67 0.68 0.7 0.7 0.67 0.68 20,416,000 13,831,460 FIGARO COFFEE 1.01 1.02 1.06 1.06 0.99 1.01 2,504,000 2,537,050 FRUITAS HLDG 96.6 97 97 97 96.55 96.7 1,690 163,640.50 GINEBRA 203.8 205.4 205.4 206 201.2 203.8 363,490 74,019,666 JOLLIBEE KEEPERS HLDG 1.17 1.18 1.19 1.19 1.15 1.17 1,102,000 1,286,380 MAXS GROUP 4.42 4.5 4.41 4.5 4.41 4.5 3,000 13,410 0.103 0.108 0.103 0.103 0.103 0.103 60,000 6,180 MG HLDG 14.12 14.5 14.18 14.5 13.9 14.5 2,919,300 41,703,288 MONDE NISSIN 7 7.2 7.02 7.02 7 7 4,000 28,002 SHAKEYS PIZZA 0.58 0.59 0.58 0.59 0.57 0.59 1,148,000 665,500 ROXAS AND CO 3.8 3.9 3.9 3.9 3.85 3.9 156,000 606,900 RFM CORP 110 110.2 113.9 113.9 108 110 2,882,130 316,570,169 UNIV ROBINA VITARICH 0.59 0.6 0.6 0.6 0.58 0.58 32,000 18,660 2.49 2.61 2.5 2.5 2.5 2.5 10,000 25,000 VICTORIAS 0.73 0.74 0.76 0.76 0.72 0.74 2,732,000 2,026,990 CEMEX HLDG EAGLE CEMENT 12.4 12.8 12.74 12.76 12.1 12.34 17,600 221,232 3.3 3.45 3.3 3.32 3.3 3.32 30,000 99,580 EEI CORP 4.59 4.6 4.6 4.65 4.6 4.6 350,000 1,612,520 HOLCIM 4.14 4.17 4.03 4.19 4.03 4.17 133,000 551,960 MEGAWIDE TKC METALS 0.66 0.72 0.72 0.72 0.72 0.72 9,000 6,480 0.78 0.79 0.8 0.8 0.78 0.78 135,000 105,800 VULCAN INDL 1.41 1.44 1.45 1.5 1.4 1.44 974,000 1,381,330 CROWN ASIA EUROMED 0.98 1.04 0.98 0.98 0.98 0.98 20,000 19,600 5.1 5.39 5.4 5.4 5.4 5.4 100 540 MABUHAY VINYL 5.25 5.3 5.3 5.3 5.25 5.25 11,900 62,500 PRYCE CORP 1.7 1.71 1.75 1.75 1.7 1.71 4,299,000 7,397,130 GREENERGY 6.8 6.9 6.82 6.9 6.58 6.9 123,100 828,111 INTEGRATED MICR IONICS 0.7 0.71 0.76 0.77 0.68 0.72 1,352,000 959,060 5.48 5.76 5.6 5.76 5.6 5.76 12,000 67,680 PANASONIC 1.55 1.59 1.62 1.63 1.53 1.55 1,810,000 2,846,110 SFA SEMICON CIRTEK HLDG 3.07 3.08 3.26 3.29 3.08 3.08 4,688,000 14,681,970

10,748,081 -3,925,005.00 -76,000 -22,000 55,310 -272,078.50 8,028,506 -4,475,818 -1,337,470 -11,924,316 -115,200 1,950 -125,620 1,261,184 -52,000 1,073,835 5,320 -287,027 -52,238,664 2,501,100 -1,899,930 10,000 -48,500 -42,960,114 -5,850 20,676,842 128,850 2,550 -48,796,445 -213,200 13,830 187,000 33,250 1,710 -6,900 38,550 -469,680

HOLDING & FRIMS ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ATN HLDG A COSCO CAPITAL DMCI HLDG GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LT GROUP METRO PAC INV PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS

42.5 116.8 8.05 86.45 26.6 6.79 47 17.94 90 76.8 1.61 3.45 0.62 0.71 0.223 170 2,320 0.73

2.02 600 54.5 9.82 0.395 4.23 9.62 467.2 3.42 51.95 0.54 8.75 3.7 2.05 0.89 779.5 104 107.6 0.25

43 117 8.28 87 26.9 6.84 47.25 17.96 90.6 77 1.66 3.5 0.67 0.78 0.265 172.9 2,400 0.81

2.04 601 55 9.83 0.4 4.29 9.63 468 3.54 52.95 0.59 8.76 3.71 2.08 0.9 780 104.5 114.3 0.28

42.4 115 8.02 86.25 26.65 6.8 47.2 17.82 91 74 1.62 3.5 0.62 0.78 0.28 173 2,320 0.73

2.01 602.5 53.45 9.8 0.4 4.35 9.5 472.8 3.42 51.05 0.56 8.7 3.71 2.1 0.92 790 103.2 114.5 0.25

42.5 117.1 8.02 88 26.9 6.98 47.25 17.96 91 76.8 1.66 3.5 0.62 0.78 0.28 173 2,320 0.73

2.08 608 55.05 9.9 0.4 4.35 9.73 472.8 3.42 52.95 0.6 8.77 3.71 2.1 0.92 790 104.9 114.5 0.25

42.4 114.5 8.02 85.65 26.5 6.79 46.55 17.82 90 73.6 1.61 3.45 0.62 0.78 0.28 170 2,320 0.73

2.01 596 52.25 9.77 0.4 4.18 9.49 465 3.42 51.05 0.54 8.7 3.67 2.04 0.9 771 103 105.2 0.25

42.5 117 8.02 87 26.9 6.84 47.25 17.96 90 76.8 1.66 3.45 0.62 0.78 0.28 170 2,320 0.73

2.04 600 55 9.82 0.4 4.29 9.62 468 3.42 52.95 0.6 8.75 3.7 2.05 0.9 780 104.5 114.3 0.25

10,800 2,180,400 600 3,496,380 12,000 87,700 907,700 11,300 123,980 101,100 91,000 3,000 50,000 13,000 10,000 1,960 100 24,000

18,578,000 141,230 1,989,680 630,100 430,000 364,000 12,727,100 36,750 12,000 1,253,150 100,000 2,213,200 3,698,000 405,000 189,000 164,410 170,010 410 50,000

37,978,620 84,728,450 108,320,692.50 6,188,190 172,000 1,550,270 122,180,675 17,181,510 41,040 66,085,535.50 55,480 19,378,095 13,666,300 831,470 172,490 127,970,550 17,759,239 43,755 12,500

PROPERTY

ARTHALAND CORP 0.53 0.54 0.54 0.54 0.53 0.53 12,000 6,380 24.35 24.4 23.8 24.45 23.6 24.4 4,578,700 110,067,755 AYALA LAND 3.06 3.1 3.13 3.13 3 3.08 193,000 594,710 AYALA LAND LOG 13.04 13.52 13.04 13.04 13.04 13.04 100 1,304 ALTUS PROP ARANETA PROP 1.31 1.32 1.35 1.35 1.31 1.32 245,000 327,360 36 36.3 36.8 36.8 36 36 200,000 7,286,095 AREIT RT A BROWN 0.74 0.77 0.75 0.75 0.74 0.74 10,000 7,420 0.68 0.69 0.67 0.68 0.67 0.68 45,000 30,380 CITYLAND DEVT 2.48 2.5 2.46 2.5 2.46 2.5 15,000 37,230 CEB LANDMASTERS 0.385 0.39 0.385 0.39 0.385 0.385 700,000 269,750 CENTURY PROP 2.43 2.44 2.46 2.47 2.43 2.44 2,082,000 5,092,760 CITICORE RT 7.72 7.76 7.8 7.8 7.7 7.76 43,600 337,405 DOUBLEDRAGON DDMP RT 1.5 1.51 1.52 1.53 1.51 1.51 1,115,000 1,692,540 DM WENCESLAO 6.82 6.83 6.85 6.85 6.82 6.83 25,900 177,263 0.196 0.215 0.201 0.201 0.19 0.19 1,040,000 201,960 EMPIRE EAST 0.3 0.31 0.31 0.31 0.3 0.305 4,100,000 1,253,200 EVER GOTESCO 6.78 6.8 6.8 6.8 6.75 6.8 1,224,200 8,323,856 FILINVEST RT 0.9 0.93 0.92 0.92 0.9 0.9 7,324,000 6,625,780 FILINVEST LAND 0.85 0.87 0.83 0.85 0.83 0.85 453,000 377,050 GLOBAL ESTATE 9.18 9.78 9.55 9.84 9.55 9.84 7,800 75,386 8990 HLDG PHIL INFRADEV 1.06 1.08 1.08 1.12 1.06 1.08 71,000 77,020 0.7 0.72 0.71 0.72 0.71 0.72 49,000 34,890 CITY AND LAND 2.24 2.25 2.27 2.27 2.23 2.25 4,265,000 9,584,820 MEGAWORLD MRC ALLIED 0.177 0.179 0.18 0.18 0.179 0.179 480,000 85,990 15.94 16 16.1 16.1 15.94 15.94 434,500 6,967,124 MREIT RT 0.375 0.38 0.375 0.375 0.375 0.375 920,000 345,000 PHIL ESTATES 2.09 2.1 2.07 2.09 2.06 2.09 2,063,000 4,279,100 PRIMEX CORP 6.35 6.39 6.36 6.46 6.33 6.35 418,400 2,657,958 RL COMM RT ROBINSONS LAND 16.52 16.6 16.6 16.74 16.52 16.6 359,300 5,962,350 PHIL REALTY 0.225 0.23 0.23 0.23 0.23 0.23 200,000 46,000 1.23 1.3 1.2 1.2 1.2 1.2 2,000 2,400 ROCKWELL SHANG PROP 2.56 2.58 2.58 2.58 2.58 2.58 1,000 2,580 2.73 3.04 3.04 3.04 3.04 3.04 5,000 15,200 STA LUCIA LAND 36.1 36.15 36.5 36.6 35.9 36.15 6,331,500 229,010,200 SM PRIME HLDG 3.24 3.32 3.24 3.24 3.24 3.24 1,000 3,240 VISTAMALLS 1 1.03 1 1.03 1 1.03 21,000 21,030 SUNTRUST RESORT VISTA LAND 1.95 1.97 1.93 1.97 1.93 1.97 429,000 842,390 VISTAREIT RT 1.74 1.75 1.75 1.76 1.74 1.74 183,000 319,190

SERVICES ABS CBN 9.1 9.11 9.06 9.16 9.06 9.1 4,800 43,700 10.22 10.26 10.24 10.28 10.22 10.22 436,700 4,469,722 GMA NETWORK 2,100 2,116 2,130 2,148 2,068 2,100 81,775 170,971,800 GLOBE TELECOM 1,623 1,649 1,618 1,649 1,586 1,649 99,740 161,496,530 PLDT APOLLO GLOBAL 0.034 0.035 0.035 0.036 0.034 0.035 56,600,000 1,967,900 CONVERGE 19.86 19.88 19.92 20 19.82 19.88 6,047,800 120,250,626 DFNN INC 3.41 3.43 3.25 3.45 3.25 3.43 599,000 2,011,080 DITO CME HLDG 3.88 3.91 3.95 4 3.87 3.88 1,731,000 6,817,130 1.49 1.68 1.6 1.76 1.6 1.76 21,000 33,760 JACKSTONES 1.16 1.17 1.18 1.18 1.15 1.17 873,000 1,014,490 NOW CORP 0.275 0.28 0.275 0.275 0.27 0.275 1,170,000 321,650 TRANSPACIFIC BR 6.44 6.47 6.43 6.47 6.43 6.47 3,700 23,919 2GO GROUP CHELSEA 1.15 1.2 1.2 1.2 1.15 1.2 372,000 439,960 CEBU AIR 42.6 42.7 41.85 43 41.85 42.7 37,700 1,601,950 INTL CONTAINER 185 187 181 189.6 181 185 978,800 182,668,146 MACROASIA 4.25 4.3 4.21 4.28 4.21 4.25 181,000 768,920 0.86 0.93 0.86 0.86 0.86 0.86 8,000 6,880 METROALLIANCE A 5.52 5.53 5.51 5.51 5.51 5.51 5,500 30,305 PAL HLDG 1 1.03 1.01 1.02 1.01 1.02 108,000 109,200 HARBOR STAR 0.078 0.08 0.08 0.08 0.078 0.078 4,340,000 341,120 BOULEVARD HLDG WATERFRONT 0.43 0.455 0.43 0.43 0.43 0.43 30,000 12,900 550.5 588 550.5 550.5 550 550 350 192,510 FAR EASTERN U 1.19 1.2 1.2 1.2 1.2 1.2 20,000 24,000 BELLE CORP BLOOMBERRY 5.83 5.9 6 6 5.8 5.84 4,989,900 29,222,039 1.39 1.4 1.43 1.43 1.39 1.39 1,324,000 1,865,860 LEISURE AND RES 0.77 0.78 0.78 0.79 0.77 0.77 514,000 397,750 PH RESORTS GRP 0.4 0.405 0.4 0.405 0.4 0.405 70,000 28,250 PREMIUM LEISURE 3.2 3.27 3.4 3.45 3.2 3.25 2,485,000 8,161,530 PHILWEB ALLDAY 0.295 0.3 0.305 0.305 0.295 0.3 2,590,000 777,600 ALLHOME 4.6 4.7 4.77 4.78 4.7 4.7 26,000 122,920 METRO RETAIL 1.44 1.47 1.47 1.47 1.44 1.47 20,000 29,060 29.7 30 29.95 30.25 29.5 29.7 295,000 8,786,190 PUREGOLD 55.1 55.2 55 55.45 54.8 55.1 274,180 15,091,391.50 ROBINSONS RTL 63.5 64 65 65 63.5 63.5 2,630 169,610 PHIL SEVEN CORP 1.4 1.41 1.4 1.47 1.39 1.4 2,288,000 3,289,000 SSI GROUP 23.4 23.75 23.35 23.9 23.2 23.75 340,700 8,093,665 WILCON DEPOT APC GROUP 0.19 0.193 0.193 0.193 0.193 0.193 140,000 27,020 0.74 0.75 0.74 0.77 0.73 0.75 4,737,000 3,532,520 MEDILINES PRMIERE HORIZON 0.425 0.43 0.43 0.43 0.415 0.425 750,000 317,000 SBS PHIL CORP 3.65 3.71 3.66 3.7 3.66 3.7 7,000 25,820

MINING & OIL ATOK 6.58 6.8 6.58 6.84 6.57 6.82 47,600 315,511 1.47 1.48 1.51 1.51 1.47 1.47 445,000 659,440 APEX MINING 4.31 4.4 4.3 4.4 4.3 4.4 200,000 862,700 ATLAS MINING BENGUET A 5.15 5.2 5.26 5.26 5.15 5.15 42,000 218,160 5.1 5.15 5.19 5.19 5.1 5.1 12,700 65,513 BENGUET B 2.65 2.75 2.72 2.75 2.72 2.75 30,000 81,630 CENTURY PEAK DIZON MINES 3.8 4.93 3.81 3.81 3.8 3.8 5,000 19,020 2.27 2.28 2.29 2.3 2.26 2.27 496,000 1,127,870 FERRONICKEL 0.134 0.138 0.138 0.138 0.134 0.134 180,000 24,160 LEPANTO A 0.133 0.138 0.133 0.133 0.133 0.133 700,000 93,100 LEPANTO B 1.27 1.28 1.25 1.29 1.25 1.28 1,010,000 1,281,720 MARCVENTURES NIHAO 0.9 0.92 0.92 0.92 0.92 0.92 1,000 920 NICKEL ASIA 5.38 5.4 5.49 5.49 5.3 5.4 1,286,000 6,909,428 ORNTL PENINSULA 0.69 0.72 0.71 0.73 0.69 0.69 477,000 338,140 PX MINING 3.29 3.31 3.28 3.33 3.28 3.3 333,000 1,098,880 41 41.15 40.3 42 40.3 41 6,438,700 266,105,745 SEMIRARA MINING 14.04 14.06 14.08 14.48 14.02 14.06 559,100 7,957,060 ACE ENEXOR 0.01 0.011 0.011 0.011 0.011 0.011 7,100,000 78,100 ORNTL PETROL A 0.0087 0.0088 0.0088 0.0088 0.0086 0.0087 5,000,000 43,500 PHILODRILL PXP ENERGY 5.55 5.7 5.72 5.76 5.51 5.7 127,100 717,413

PREFFERED HOUSE PREF B 97.5 98.5 98.5 98.5 98.5 98.5 110 10,835 505 508 505 505 505 505 1,400 707,000 ALCO PREF D 41.2 41.8 41.8 41.8 41.75 41.8 4,700 196,455 CEB PREF 99.8 101.4 100 101.4 100 101.4 3,660 366,210 CPG PREF A DD PREF 98 99.95 98 98 96.2 98 8,860 861,512 106.5 107 106.5 107 106.5 107 23,320 2,483,590 EEI PREF B 995 1,000 1,000 1,000 990 1,000 1,155 1,150,700 GTCAP PREF B 98 100 100 100 100 100 17,000 1,700,000 MWIDE PREF 2B 92 96.85 99.95 99.95 96 96.85 290 28,074.50 PNX PREF 3B 826 844 847.5 848 826 840 3,100 2,580,580 PNX PREF 4 1,031 1,035 1,034 1,035 1,034 1,035 9,430 9,759,500 PCOR PREF 3A 76.45 77 76.45 76.45 76.1 76.45 19,660 1,501,901 SMC PREF 2F SMC PREF 2H 75 75.3 75.05 75.05 75 75 41,500 3,112,750 76.5 77 76.5 76.5 76.5 76.5 920 70,380 SMC PREF 2I 71.8 71.95 72 72 71.5 71.75 557,270 40,006,677.50 SMC PREF 2J 73 73.5 73 73 73 73 340 24,820 SMC PREF 2K

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 9.05 9.68 9.05 9.05 9.05 9.05 3,200 28,960 10.1 10.72 10.68 10.72 10.6 10.72 37,400 400,094 GMA HLDG PDR

WARRANTS TECH WARRANT 0.68 0.69 0.71 0.71 0.67 0.68 3,583,000 2,454,860

-3,684,890 -16,141,110 17,177,847.50 -1,620,017 -534,700.00 15,667,700 -5,449,234 5,416,124 -2,147,078 2,918,140 -53,178,070 114,669 -17,748,485 -33,590 -1,304 -1,380,090.00 -7,500 9,760 42,222 -31,920 -205,200 270,640 -5,514,860 -4,519,960 -132,736 -105,279 -2,063,790 2,400 -59,458,910 -146,830 34,900 -50,682,540 -34,029,375 70,000 42,732,420 476,770 1,212,790 -117,000 82,500 -58,850 1,238,925 69,835,930 0 -2,755 -2,400 -24,000 -20,691,012 75,790 231,500 -2,943,340 45,000 4,800.00 -4,021,125 -653,581 -8,700 1,297,760 680 12,450 -197,287 -50,320 -437,000 81,630 -266,090 30,240 920 -25,872 8,450.00 3,870 97,969,985.00 57,200 -57,000 188,095 116,005 28,960 170,178.00

SMALL & MEDIUM ENTERPRISES

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

0.6 1 0.88 0.74 1.25 0.3

0.61 1.01 0.92 0.75 1.27 0.31

EXHANGE TRADE FUNDS FIRST METRO ETF

95

96

0.62 1 0.89 0.74 1.31 0.305

0.62 1.02 0.89 0.76 1.31 0.32

0.59 0.99 0.88 0.73 1.26 0.3

0.6 1.01 0.88 0.76 1.26 0.3

6,763,000 1,284,000 195,000 331,000 775,000 240,000

4,074,000 1,283,100 171,720 249,650 990,240 74,250

-17,500 54,180 6,650 -

95.5 96 95 96 23,470 2,233,436 28,854

www.news.businessmirror@gmail.com

Banking&Finance

DAR chief to push for moratorium, condonation of farmers’ loan payments

By Jonathan L. Mayuga @jonlmayuga

T

HE Department of Agrarian Reform (DAR) will implement loan payment condonation as well as a moratorium on payments of amortization and interest for agrarian reform beneficiaries (ARBs), as instructed by President Ferdinand “Bongbong” R. Marcos Jr. In a news release, DAR Secretary Conrado Estrella III said the land reform program will continue under the Marcos administration, but vowed that it will be more vigorous this time around, starting with Marcos’ pronouncements at his first State of the Nation Address on July 25.

“We don’t stop at just giving lands to ARBs, we also think about their welfare. After two years of the pandemic, just like us, our ARBs have been experiencing financial difficulties too. These plans of the President will be a very big help to them,” Estrella said.

In his SONA, Marcos said he will issue an executive order imposing a one-year moratorium on the payment of land amortization and interest payments.

The President said the moratorium will allow farmers “to channel their resources in developing their farms, maximizing their capacity to produce and propel the growth of our economy.”

Reacting to this, Estrella said that the Office of the President is already drafting the executive order that will unburden the farmers of their dues.

“Once drafted and approved for implementation, this moratorium would be beneficial to 654,047 ARBs,” Estrella said.

The President also urged Congress to pass a law that will lift the burden off ARBs who have loan dues so they could concentrate on farm productivity.

He said an amendment to Section 26 of Republic Act (RA) 6657, or the Comprehensive Agrarian Reform

Law of 1988, is needed to unburden the farmers from their loans and interests. In this law, the loans of ARBs with unpaid amortization and interest shall be condoned.

“We are ready to work and coordinate with Congress and the Senate for whatever they need for this bill to be passed,” Estrella said.

Estrella said that prior to the President’s SONA, the DAR submitted to the President a report that there are 52,000 hectares of unused government agricultural lands that are up for distribution under EO 75.

“According to Section 40 of RA 6657, agricultural lands can also be distributed to landless war veterans, landless surviving spouses and orphans of war veterans, and landless retirees of the Armed Forces of the Philippines [AFP] and the Philippine National Police [PNP],” Estrella said.

He added that under DAR Administrative Order (AO) No. 03 issued in 1997, returnees, surrenderees, and similar beneficiaries—aside from AFP and PNP beneficiaries—shall be considered in the disposition of agricultural lands.

“The President, upon knowing these, ordered us to reserve 50,000+ hectares of land for distribution to them. And to encourage the youth to farm, agricultural graduates are also included,” he said.

Executive Order No. 75, Series of 2019 directs all government agencies, bureaus, departments, and instrumentalities to turn over agricultural lands owned by the government for distribution to qualified agrarian reform beneficiaries.

“At present, we are continually distributing lands and are focused, too, on providing the needed support services of farmers. I want our farmers to be extraordinary. So, we are not only providing farm machines and inputs but also training them to become modern farmers adept at using modern technology and training them too, to become entrepreneurs,” Estrella said.

GSIS offers emergency loans for quake victims

S

TATE-RUN Government Service Insurance System (GSIS) also announced on Wednesday that they will grant emergency loans to assist members and pensioners who are residing or working in the quake-hit areas.

GSIS President and General Manager Wick Veloso said they have allocated P5.4 billion for the emergency loan program this year.

“We will ensure that our members and pensioners will receive financial assistance, through our emergency loan, to tide them over during the crisis. We are also in touch with all public entities affected by the earthquake to check if there are damaged government properties that may claim insurance from GSIS,” Veloso said.

GSIS members with existing emergency loan balances may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Those without existing

emergency loans as well as pensioners may apply for the P20, 000 loan.

Active members residing or working, as well as old-age and disability pensioners residing in affected areas in Northern Luzon may apply for the loan after these have been declared under a state of calamity.

The GSIS emergency loan is payable in 36 equal monthly installments at a 6 percent interest rate computed in advance. It is also covered by loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided that the loan payment is up to date.

Qualified to apply are members who are in active service and not on leave of absence without pay; have at least three months of paid premiums within the last six months; have no pending administrative or criminal case, and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted. Bernadette D. Nicolas

BusinessMirror

Editor: Dennis D. Estopace • Thursday, July 28, 2022

NG to borrow ₧215B through local debt market in August

T

By Bernadette D. Nicolas

@BNicolasBM

HE national government plans to borrow P215 billion through the local debt market next month, banking on longer tenors to raise the bulk of the amount.

The Bureau of the Treasury wanted to raise P140 billion through Treasury Bonds (T-Bonds) and another P75 billion through Treasury Bills (T-bills).

Based on the schedule released by the Treasury, P35 billion in T-bonds will be offered in each auction day for

all four Tuesdays of the month. New 3.5-year T-bonds will be offered on August 2 while 7-year debt papers will be sold on August 9. Apart from these, 10-year and 5.5-year T-bonds will be auctioned off on August 16 and August 23, respectively.

On the other hand, P15 billion in

91-day, 182-day and 364-day T-bills will be offered for each of the first four Mondays of the month and on August 30. There will no be auction on August 29 as it falls on a regular holiday (National Heroes Day).

In recent auctions, investors have been seeking for higher yields as Bangko Sentral ng Pilipinas and the US Federal Reserve have been raising rates to ease inflation’s impact on economic recovery.

Locally, Inflation has hit a threeyear-high in June at 6.1 percent, bringing the year-to-date figure at 4.4 percent. This is beyond BSP’s original target band for inflation at 2 to 4 percent.

On Tuesday, investors continued to gobble up longer-term government securities while they sought

for higher yields.

National Treasurer Rosalia V. De Leon earlier said longer tenors will still be offered in August given the auction results.

As of end-May, the national government’s outstanding debt dipped to P12.5 trillion from a record high of P12.76 trillion as of end-April due to its repayment of a P300 billion shortterm, zero-interest loan from BSP. The national government’s debtto-GDP ratio has also risen to a 17-year-high at 63.5 percent, above the internationally recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines. It is also the highest since the country’s debt-to-GDP ratio hit 65.7 percent in 2005 under the Arroyo administration.

DBM: Govt has enough funds for quake relief

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WELCOME BACK

Bangko Sentral ng Pilipinas Governor Felipe M. Medalla (left) administers the oath of office to Department of Finance Secretary Benjamin E. Diokno as President Ferdinand R. Marcos Jr.’s designated Cabinet member representative to the Monetary Board. Diokno, who was previously the MB Chairman and Governor of the BSP, is the sixth member of the Central Bank’s policy-making body chaired by BSP Governor Medalla.

PHOTO COURTESY OF BSP

Chiz to economic team: Cite funding for PBBM’s list

By Butch Fernandez @butchfBM

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HE economic managers were asked to provide Congress with “detailed funding” for the programs the new administration intends to implement in the next six years, as expressed in President Ferdinand R. Marcos Jr.’s first State of the Nation Address (SONA).

Senator Francis Escudero suggested Tuesday that the country’s economic team “flesh out the details” of Marcos Jr.’s “very compelling vision” of how he wants to navigate the nation in the next six years, “particularly the sources of funds to implement his initiatives.”

Beyond that vision, Escudero said, “what follows is the hard part of funding those dreams.”

Addressing the joint session of Congress on Monday, the President committed to “modernize and further improve the healthcare system by duplicating in other parts of the country specialty hospitals” such as the Philippine Heart Center, National Kidney and Transplant Institute, and Lung Center of the Philippines—all built during the time of his father’s presidency.

In the past four decades, these specialty hospitals have benefited an increasing number of people from all over the country, but there has been a clamor to build more of them at least

in the center of each major iland group, to avoid forcing patients to travel for hours, even days to Metro Manila.

Besides the specialty hospitals, Marcos also vowed to a “even expand the previous administration’s massive infrastructure Build Build Build” by adding more “Public-Private Partnership” projects to spur economic growth in the countryside.

Escudero, a three-term senator from Bicol, called on the government to divulge the cost of the SONA programs and how these will be financed, noting that ultimately, “the taxpayers will pay for these projects.”

Every government program, he reminded, “carries a price tag, often hidden, while the purported benefits are highly praised. Lost in the euphoria is the fact that it is the people, and nobody else, who will eventually pay for them. The buck begins with the taxpayer.”

Speaking partly in Filipino, Escudero wanted to know, “How do they plan to fund the projects cited by the President? Will it be through new taxes or new borrowings? Will the people pay in pain right now through higher taxes or will the government just take a mortgage on our children’s future?

We need to know.”

Moreover, the lawmaker cautioned the Department of Finance against imposing new taxes that will “make life harder for the majority of Filipinos.”

For instance, he cited the proposed value-added tax imposition on Netflix and online digital transactions via ecommerce sites Lazada and Shopee, saying the economic managers should be able to present a clear and comprehensive proposal.

Some critics of this proposed digital tax have said that proponents mistakenly believe they would only impact the rich and middle class who heavily patronize e-commerce sites or entertainment platforms, but reminded them that majority of poor households also will be impacted by a digital tax because of their heavy use of the internet for schooling and work from home duties.

“There is no doubt that the people have united behind the President’s articulation of their aspirations. But unity is soluble in taxes—high and unfair taxes,” Escudero stressed. He indicated that he is now looking forward to receiving the proposed P5.2-trillion national budget for 2023 “at the soonest possible time to determine if the SONA promises are indeed funded.”

A tabulation of how much these programs cost and how each will be funded “must be highlighted in the administration’s 2023 national budget,” Escudero said, signalling he is also committed to “work for the expeditious passage of next year’s budget to ensure timely implementation of various programs.”

HE Department of Budget and Management (DBM) assured the public that the government has available funds for its relief operations in areas hit by the magnitude 7 earthquake that jolted Abra and other parts of Luzon on Wednesday morning.

Budget Secretary Amenah F. Pangandaman said the government can tap its National Disaster Risk Reduction and Management Program (NDRRMP) Fund on top of the Quick Response Fund (QRF), which it said “may be mobilized if necessary.”

“Our hearts and prayers go out to all affected by the earthquake.

Rest assured that we are ready to support all operations for disaster relief with the necessary budget,” Pangandaman said in a statement on Wednesday.

Of the P19.36 billion NDRRMP Fund (excluding those appropriated for the Marawi rehabilitation), the remaining balance (net of earmarks) as of end-June this year now stood at P12.296 billion, data from the DBM website showed.

The NDRRMP Fund may be used for the reconstruction, rehabilitation, repair, aid, relief, and other works or services, including pre-disaster activities, in connection with the occurrence of natural calamities occurring in the current year.

On the other hand, the QRF refers to the standby funds of agencies to immediately assist areas stricken by catastrophes and crises.

Unlike the Calamity or the NDRRMP Fund, the QRF does not require the recommendation of the National Disaster Risk Reduction and Management Council or the approval of the Office of the President (OP) to trigger the use and release of funds. When the QRF gets depleted, the agency may request replenishment with a request to the DBM and to be approved by the OP. Bernadette D. Nicolas

Deutsche Bank yields profitability goal amid rising costs and inflation headwinds

By Steven Arons Bloomberg News

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EUTSCHE Bank AG scrapped an efficiency target for the year and warned a key profitability goal was getting harder to reach, as the economy weakens and the war in Ukraine, surging inflation and litigation drive up expenses.

The muted outlook, published Wednesday along with second-quarter results, overshadowed a strong perfor-

mance at the corporate bank, which benefited from higher interest rates, as well as in fixed-income trading, which beat Wall Street in a volatile market.

Chief Executive Officer Christian Sewing has so far stuck with the key pledge of his four-year turnaround plan, an 8 percent return on tangible equity this year. He’s benefited from a years-long trading rally and, more recently, rate increases by the European Central Bank and the Federal Reserve.

But with the economy slowing, infla-

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tion showing no signs of easing and multiple other challenges piling up, prospects for the rest of the year have clouded over.

“We see some of the challenges lying ahead and we’ve reflected that in our outlook,” Chief Financial Officer James von Moltke said in an interview on Bloomberg TV. Deutsche Bank “had some setbacks in the first half that were outside our control and we continue to see pressure in the second half of the year on expenses.”

Shares of Deutsche Bank swung between gains and losses, declining 1.2 percent at 9:13 a.m. in Frankfurt.

Pretax profit in the second quarter, at 1.55 billion euros ($1.57 billion), came in well ahead of analyst estimates for 1.39 billion euros. That’s the best second quarter since 2011, Deutsche Bank said.

At the corporate bank, higher rates fueled a 26 percent increase in net revenue to 1.6 billion euros, the highest since the unit was formed in 2019 when

Sewing unveiled his restructuring plan.

The private bank, which houses the lender’s retail operations, saw revenue increase by 7 percent from a year earlier. Both businesses had struggled with the impact of negative interest rates in Europe, which the ECB ended last week.

Fixed-income trading, which drove much of Deutsche Bank’s rebound under Sewing, rose 32 percent from a year earlier, capping two years of market-share gains. The five biggest US investment banks, which all re-

ported second-quarter results earlier this month, saw fixed-income trading rise 31 percent on average.

At the same time, revenue from advising on deals and capital raisings slumped 63 percent from a year earlier, prompting Deutsche Bank to lower its guidance for the investment bank, the biggest revenue contributor. The lender said it now expects the unit’s revenues to be essentially flat this year, compared with a previous guidance for a slightly higher top line.

Envoys&Expats BusinessMirror

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Thursday, July 28, 2022

PBBM: United States remains close friend, partner and ally

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RESIDENT Ferdinand Marcos Jr. has assured that the Philippines will continue to have strong relations with the United States of America under his leadership.

The Chief Executive articulated his administration’s stance regarding these long-standing bonds when he received the credentials of MaryKay Loss Carlson, US ambassador to the Philippines, at Malacañang Palace on July 22. “[Echoing the commitment of the US to the Philippines, our country is also committed to yours, and to the continuing relationship between our two countries in many dimensions and its multifaceted nature],” Marcos Jr. told Carlson.

For the President, traditional ties between the Philippines and the US continue to be “deep and enduring.”

The two countries established formal diplomatic relations on July 4,

1946 when the Philippines gained its status as an independent and sovereign state. Both have expanded and deepened bilateral cooperation in many fields, including defense and security, trade and commerce, as well as culture and education.

Marcos Jr. said the US will stay as the Philippines’s “friend, partner, and ally.”

“In the face of a very volatile global political and economic situation, it is this from the ties that we have with our friends and perhaps, the longest of those, [with the US, we depend on them] to keep the stability of not only our country, but also the region and for that matter, the world,” he said.

By Michele Boccoz

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OUR excellencies, secretaries, Assistant Secretary Jaime Victor Ledda representing Secretary Enrique Manalo, [Apostolic] Nuncio Charles John Brown, speaker, senators, distinguished guests: It is with great pleasure that I welcome you tonight at our residence, as we are almost back to normal again.

Weeks ago many of you participated in the launch of the 75th year of bilateral relations between France and the Philippines at the Pinto Museum. Fifty more events are lined up until yearend that will celebrate the creativity of Filipino and French artists, athletes, chefs and entrepreneurs. Today is a time to celebrate, but it is also in times of hardship that we can see the full extent of our friendship.

Today the rules-based international order—that is, the foundation of peace that both our nations have committed to uphold since the end of World War 2—has been threatened by the unprovoked and illegal invasion of Ukraine by Russia. France fully supports the Ukrainian people and government [via] unprecedented sanctions against Russia. Global consequences of the aggression, like the sharp rise in food and fuel prices, remind us that our strategic interests are closely linked.

The ties with the Philippines are at the heart of our Indo-Pacific strategy. Our two countries share a strong will to maintain the prevalence of the rule of law, and the United Na-

BOCCOZ

tions Convention on the Law of the Sea, in particular. Our cooperation has steadily deepened in the areas of defense and security, through the frequency of our military deployments, joint drills, port calls, and the modernization of maritime capabilities. Protecting our sovereignty, safeguarding natural resources, including fishing resources, or dealing with natural disasters, are common regional concerns.

The emergence of nontraditional threats such as climate change, pandemic or food security, require us to work even more closely together.

In support of the government and UN response to Typhoon “Odette” last December, France mobilized— thanks to the remarkable support of the Navy and the Coast Guard, civil society and the private sector—to bring relief aid and much-needed equipment to affected populations.

France also supports long-term climate change resilience, [as it provided] a $250-million loan on disaster-risk reduction. We also support innovative, green-energy projects— thanks to our expertise in sectors such as hydrogen or nuclear-power generation to address the Philippines’s needs.

R AMBASSADOR Carlson and President Marcos Jr.BBM FACEBOOK

President Joe Biden earlier invited Marcos Jr. to visit the US. His Filipino counterpart was given the assurance that he will have “full diplomatic immunity” as head of state, despite a long-standing contempt order that had prevented the latter from entering the US. On July 1 Marcos Jr. vowed to further boost the Philippines’s re-

lations with its allied countries, including the US, by “exploring areas of mutual interest.”

The Chief Executive likewise received the credentials of Thailand’s ambassador Tull Traisorat, who recently served as the kingdom’s consul-general in Hong Kong, and chargé d’affaires in London. Ruth Abbey Gita-Carlos/PNA

Responding to the pandemic, France donated 6.2 million vaccines to the Philippines through the COVAX platform, which was created to ensure equal access to Covid-19 response tools.

As early as last March, to address the global food crisis, France has been spearheading the FARM initiative, aimed at ensuring equal access to food products for numerous countries, as well as strengthening food-production capacities. As inflation is rising and food products are getting scarce, food security is our new global challenge.

Now is also the time to embrace new opportunities, the time to increase our exchanges, and take our relationship to the next level.

In 2021 our bilateral trade went up 51 percent. With 121 businesses enlisted in the Philippines and 62,000 local jobs, these are good news showing the resilience of our entrepreneurs.

[Our countries] have a strong trade relation in aeronautical equipment, as well as pharmaceutical and food products, while the Philippines provides electronic products.

French firms are very active in the infrastructure sector, exemplified by a $1-billion project [that is] part of the first underground line of the Manila Subway.

As the home of French technology and being a highly innovative research and development nation, we encourage dynamic projects in the field of technology and innovation, both in academic and business development. As a concrete example, our cooperation

on the design of electronic circuits contributes to the boosting of local capacities. These efforts are supported by the French Tech network in 13 capital cities, including Manila, fostering interactions between entrepreneurs, investors, and engineers, aiding the empowerment of the tech movement in the Philippines.

Our innovative capacity is recognized again this year with awards, such as the Fields Medal—the Nobel Prize for mathematics. France has provided 13 out of the 44 laureates since the creation of this award, as well as 14 Nobel Prize Laureates in physics, 9 in chemistry, and 13 in medicine.

In 2022 France remained as the most attractive destination in Europe for foreign investors for the third year in a row. We had 1,222 projects in 2021—more than 20 percent of foreign-direct investments in Europe. It is an all-time record.

Thanks to assets like decarbonized energy, high-skilled labor, and good quality of life, the French economy has been able to attract 37-percent more industrial and logistics projects. We welcome you with open arms! Please come and visit, and make projects with us.

To conclude, let me profusely thank all the companies, from Philippines and France, who brought their generous support to this National Day event, as well as to our 75th anniversary program. I hope you will enjoy our many events lined up until the end of the year, as we look towards the next 75 years of our friendship.

Envoy, team visit Thai prison on Nelson Mandela Intl Day

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ANGKOK—Ambassador Millicent Cruz-Paredes, together with the Philippine diplomatic corps in Bangkok, joined the “Enriching the value of prisoners’ lives through social rehabilitation and artistic activities” special event, in observance of Nelson Mandela International Day at the Thonburi Remand Prison on July 18.

The United Nations Office on Drugs and Crime Regional Office for Southeast Asia and the Pacific set up the event, with support from

the Thai Ministry of Justice.

Thonburi Remand Prison has been operating since August 9, 1994.

It hosts almost 3,000 male prisoners with sentences of 15 years or less. In 2017 it was the first in Thailand to pilot the implementation of the revised UN Standard Minimum Rules for the Treatment of Prisoners, better known as the “Nelson Mandela Rules.”

In this year’s commemorative event, visitors saw first-hand ways the prison has implemented the said

Sri Lanka supplements synergies in ICT sector

SECRETARY Uy and Ambassador Gunasekera (third and fourth from left, respectively), with officials from the DICT and the Sri Lankan Embassy EMBASSY OF SRI LANKA FB

Embracing opportunities, boosting ties, taking PHL-France linkages to next level Ambassador of France to the Philippines

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AMBASSADOR Millicent Cruz-Paredes receives a memento from Director General Ayuth Sintoppant. UNODC REGIONAL OFFICE FOR SOUTHEAST ASIA AND THE PACIFIC/DFA

rules in the Thai context. It focuses on rehabilitation activities, including vocational training in traditional Thai craftsmanship and the arts.

Guests were given special access to the reception, classification, health care, and prerelease support facilities for prisoners, which are closed to the public. They were also treated to a cultural performance by the inmates.

Nelson Mandela International Day is marked every July 18th “to promote humane conditions of imprisonment, raise awareness about prisoners being continuous parts of society, and value the work of prison staff as a social service of particular importance.”

ECOGNIZINGopportunitiesto enhance collaborations in various fronts, Sri Lanka recently initiated a dialogue with the Department of Information and Communications Technology (DICT).

Ambassador Shobini Gunasekera, together with a delegation from her country, met with DICT chief Atty.

Ivan John Uy and briefed him on Sri Lanka’s interest to work with the Philippines in the ICT sector, where, according to her, both countries can complement strengths and capabilities, particularly in e-government, e-commerce, business-process outsourcing, and software development.

Gunasekera elaborated on the growing interest among the Sri Lankan ICT industry to introduce their services, expand their network, and establish their presence in the Philippines.

A delegation from two Sri Lankan ICT companies led by Sanji De Silva of Bileeta Pvt Ltd. and Dinesh Saparamadu of hSenid Group of Companies also attended the said meeting.

Speaking on behalf of their industry, the entrepreneurs discussed innovative solutions and products that Sri Lanka offers.

Meanwhile, Uy expressed his interest to study and explore the possibility of engaging further with the South Asian country in this sector.

According to him, the new Philippine administration is in the process of finalizing its ICT-development agenda under the economic plan of President Ferdinand Marcos Jr. The Sri Lankan ICT industry has already made its presence in the Philippines in various sectors. Companies

like the two aforementioned, as well as FBC Asia Pacific, Tech One Global, among others, have already set up their operations serving clients from small- and medium-sized enterprises, up to the country’s biggest firms.

With the goal of further expanding engagements between the two countries in this industry, the Sri Lankan Embassy has been facilitating interactions, dialogues, and introductions between relevant stakeholders such as the IT and Business Process Association of the Philippines or IBPAP and Sri Lanka Association of Software Service Companies, among others, to provide a platform to expand linkages, share best practices, and foster collaboration.

Further, the embassy, in its efforts to promote Sri Lanka as a destination for Philippine-based IT-BPM companies, has facilitated the entry of foreign firms like EMAPTA, which has now established its operations in the country.

Moreover, the embassy has also tied up with the Center for International Education Global Colleges Inc. of the Philippines for an ICT-scholarship program for 500 Sri Lankan beneficiaries, which will be implemented through the Rotary Club of Colombo Reconnections and the Rotary Club of Makati Circle of Friends.

A lawyer by profession, Uy is an expert in technology law, computer forensics, cyber security, e-commerce and digital ethics, among others, with extensive experience in the public and private sector. He assumed the position of ICT secretary upon the inauguration of the new administration on June 30.

Japan sets up water-supply facilities in South Cotabato

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FFICIALS of the Japanese Consulate-General in Davao led by Consul General Yoshihisa Ishikawa and Vice Consul Rie Mitsuhashi, as well as Third Secretary Yumi Yamada of the Embassy of Japan, attended the turnover ceremony of “The Project for the Construction of Level-II WaterSupply System in Barangay Kablon, Municipality of Tupi, Province of South Cotabato” on July 20, with local executives gracing the event.

Approved in 2018, the project is part of Japan’s official development assistance (ODA) through the Grant Assistance for Grass-Roots Human Security Projects (GGP), and is also connected with both the embassy and consul-general’s efforts to support the peace and development in Mindanao under the Japan-Bangsamoro Initiatives for Reconstruction and Development program, or J-BIRD. Due to budget limitations, the installation of water systems in South Cotabato has yet to materialize in many areas where residents lack access to clean water. Tupi had one of the lowest rates of access to safe potable water in the province.

The embassy shared that in several sitios of Barangay Kablon, it takes as much as 2 hours to fetch water on foot and the water, that the time it takes to walk renders the water unsafe for drinking. As a result, approximately 10 percent of the residents suffer every year from conditions such as diarrhea and skin diseases, which can be commonly attributed to drinking unclean water.

Addressing the issue, the em-

CLEAN water is sampled from one of the supply systems. JAPANESE EMBASSY

bassy of Japan has provided a grant amount of $75,149, or approximately P4 million, to the South Cotabato Provincial Government. The grant covered the construction of Level-II water system in three sitios in Kablon.

Ishikawa hopes that residents are now free from worries of contracting waterborne diseases, as well as the physical burden and time consumed in fetching water from afar. He anticipates future community development in the areas, as residents can now allocate their time to more productive activities.

As the top ODA donor for the Philippines, the government of Japan launched the GGP scheme in 1989 to reduce poverty and help various communities engage in grassroots activities. At present 553 grassroots projects have been implemented under such. Japan believes that these projects will strengthen its friendship, and contribute to sustaining strategic partnerships, with the Philippines.

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Parentlife BusinessMirror

Editor: Gerard S. Ramos

• Thursday, July 28, 2022

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My post-pandemic back-to-school guide: The ‘phygital’ community collaboration GETTING IN ON ALL THE FUN

KIDS and kids-at-heart had lots of creative fun during the recent “Play-Doh Fun ‘N’ Play” exhibit at The Block at SM City North Edsa. The fun continued as the exhibit later traveled to the Mall of Asia’s Central Mall and SM Southmall’s Event Center.

Life-sized 3D Play-Doh characters gave shoppers lots of photo opportunities, while 30-minute Play-Doh webisodes series, fun games and prizes, and a Meet-and-Greet with Play-Doh’s Doh Doh mascots added to the excitement.

Everyone had a lot of fun checking out the Play-Doh toys and merchandise, and other Hasbro toys during the exhibit.

Kids were able to get a free Play-Doh activity mat for every P1,000 purchase and a free Play-Doh String bag for every P500 purchase.

First manufactured in Cincinnati, Ohio, USA, as a wallpaper cleaner in the 1930s, Play-Doh was then reworked and marketed over the years until it became one of the most popular educational toys for kids—a soft colored substance like clay that is used for making models which promotes creativity and fun in their playtime.

The fun continues with Toy Kingdom’s Play Doh Collections in-store or at www.toykingdom.com.ph.

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AST week, I shared how I discovered the “magic of STEAM” (Science, Technology, Engineering, Art, Math) and how it helped developed my children’s confidence.

This week, let me share how we can involve our community, amid a “phygital” (physical + digital) world, in building a nurturing environment for our children.

With back-to-school nearing, and our children attending either face-to-face or hybrid classes, we as parents cannot help but wonder what our children’s adjustments would be. As we already know and pointed out in the book A Mind of Their Own: Building Your Child’s Emotional Well-being in a Post-Pandemic World by Katherine Hill, “our children are growing up in a world of incredible opportunity. The digital age means that at the touch of a screen, they have access to a world of information and the possibility of connections and relationships across the world.

There are increasing opportunities to study, and many young people are far more socially and globally aware than previous generations at a similar age. The challenge our children face is how to navigate this complex world full of both opportunity and challenge, potential and risk. In this, we can take heart from the fact that the people most able to help them are us, their parents. But if we are to do this, it’s not enough for us to be aware of the potential issues and their impact on mental health. We also need to know what action we can take to help our children be confident, resilient and emotionally healthy adults.”

The next question is how will we be able to support our children in this highly digital world. First, let us look at the facts. From the same resource: “New research has found, perhaps unsurprisingly, that the more time young teenagers spend on social media, the greater impact on their mental well-being. The Millennial Cohort Study found that the average 13to 15-year-old spends one to three hours on social media every day. Our brains are highly tuned to social acceptance and rejection, and the need to accumulate likes and followers means that for the first time and history our children have a number allocated to their worth. Social media provides fertile soil for anxiety and other negative emotions, particularly among those who are the most vulnerable to mental health issues. It is ironic that reducing use of social media has

TRI-COLOR PlayDoh cans for color variety that can be used for the Crazy Cuts Stylist Hair Salon Pretend Play Toy.

SOME of our family’s nurturing support system includes my dad and my sister, shown here with my kids last Chinese New Year.

been found to make young people feel less lonely.

“Cyber bullying is prolific. In a YouGov survey of 5,000 children, parents and grandparents, bullying was cited as the biggest impediment to a good childhood as children deal with it both on- and offline. And Instagram highlights that magnifying issues surrounding appearance and body image, combined with a lack of strong friendships, are driving factors for plummeting happiness levels for boys now as well as girls.”

I have witnessed this to a certain degree with my own children, especially when my daughter entered her teens. The period of 13 to 15 years of age was quite pivotal in developing a healthy mental well-being amid her digital environment. The most important ingredients, as I look back, was developing what I call her “CORE” or emotional well-being; and collaborating with our loving community.

“We use the term emotional well-being to refer to the quality of our emotional experience—the barometer of how we think, feel and relate to others and also to ourselves. Our emotional well-being affects how we see and understand the world, and it is an important part of our overall health. People who are emotionally healthy are able to cope with life’s challenges, keep problems in perspective and bounce back from setbacks. Poor emotional well-being, on the other hand, is related to mental health concerns

such as anxiety and depression, which can also affect physical health and set back the emotional growth of young children, stopping them from making friends, taking part in social activities, sitting exams successfully and fulfilling their potential.”

Our child’s familiarity and love for content and other activities like sports, art and other hobbies can build up our child’s “CORE.” So when inevitable issues from friends on social media crop up, our child can have other “life pockets” to draw out from.

The second ingredient of collaboration with our community is an interesting and critical one. I truly believe that it takes a village to raise a child. It is critical for us parents to identify the community that can positively support our child’s well-being.

My in-laws, my father and my sister Joan have always been great cheerleaders for my kids. Even though we do not live together, they never fail to communicate with them either through Messenger or a phone call. My children’s school teachers and administrators have provided great academic and emotional support to my children. They are always just a chat or e-mail away. Last but not the least are my children’s mentors. Our close friends have been great confidantes to us—and also to our kids. I cannot thank enough my children’s coaches and fellow athletes especially during this pandemic for honing such strong purpose and will in them. ■

PLAY-DOH Peppa’s Ice Cream Playset.

Food stories from a childhood past

BY PAULINE JOY M. GUTIERREZ THE rain came as a surprise but signaled a welcome break after the dust and heat of summer in March.

Our small group gathered inside a small restaurant somewhere in Quezon City, awaiting a provincial bus to take us to Pampanga. Then it arrived, big and beckoning us to come aboard.

To Alvin Lim, grandson of Teresita “Mama Sita” Reyes, the matriarch and namesake of the Mama Sita’s holding company, its presence is reminiscent of the out-of-town trips his family would bring him to as a kid. “Mama Sita has 11 children, and I have more than 30 first cousins. We can fill a bus very much like this one,” he said.

Lim serves as communications officer for the Mama Sita Foundation, a nonprofit organization dedicated to promoting Philippine culinary heritage and agricultural sustainability.

The foundation’s work, through its Mga Kuwentong Pagkain initiative, fosters awareness of where Filipino food dishes and traditions come from, as well as stories from the families who cook them and the memories conjured.

“It encourages the practice and preservation of food writing and continues the advocacy that lola started. In all the places that she went to, she talked to the people who were there,” Lim said.

Celebrating its 10th year, the culinary excursion took place in San Roque in Mexico. Like many areas in Central Luzon, Pampanga harvests an abundance of carabao mangoes, which are sold to exporters and local markets.

Harvest season is usually from late May to early July. There are also 14 different strains, which include the Talaban and Fresco of Guimaras, MMSU Gold of the Ilocos Region, and Lamao and Sweet Elena of Zambales.

The Mexican Ataulfo and Manilita mango cultivars

ONE of the condiments that brighten up Filipino dining staples.

descended from the Philippine mango through the Manila galleon trade between 1600 and 1800. Both of these cultivars are sometimes referred to as “Manila mangoes” in trade.

Over lunch of Kapampangan cuisine, Peach Reyes, which belongs to the third generation of the Reyes clan and would often refer to herself as “the only granddaughter with a Reyes last name,” shared that their family would go on mango-picking picnics where stories were told as they passed plates of dishes around.

“Like Alvin said, lola would also rent a bus and bring us to places. One of the most memorable ones was in Iloilo. We have relatives there who had a barge because they distributed beer. We would go islandhopping every day. There were picnics on each island.

We were able to go to Gigantes, and then there was

PARTICIPANTS view a visual guide of how mangoes are planted, maintained, and harvested. A lot of thought is put into mango farming, even down to the distance between the trees.

a private beach in Sicogon. We weren’t able to dock there but we were able to swim,” she said.

With a family tracing its roots to Engracia “Aling Asiang” Reyes of Aristocrat fame, the question had to be asked: “Who cooks?”

“Initially, it was lola, but she was helped by the sons and the daughters. She would bring her pans, along with three kitchen helpers. Sometimes there were would be 40 of us, and the restaurants would get overwhelmed because everyone was there and everyone was hungry,” Reyes said.

When the weather was nice outside, food was stored in floral casseroles. For special occasions, it’s served in precious china and silverware.

This tradition continued every Sunday in Manila, where they would gather at the ancestral home in Mandaluyong.

“It’s a big compound. We’ll harvest duhat [java plum] and aratilis [cotton candy berry] fruits and climb through the neighbor’s roof. Mandaluyong was not yet developed at the time, and so there were plenty of small hills planted with sweet potatoes and we would go hiking there,” Reyes continued.

Often, recipes are passed down from one generation to the next when family members would meet.

“The most memorable food for me was adobo, because it doesn’t spoil easily and so lola cooked it everywhere. But in the house, she liked to serve lumpiang hubad [vegetable spring rolls].” For dessert, there’s leche flan [caramel flan]. Under her bed were cans after cans of evaporated and condensed. For Reyes, it’s just the way they remember holidays and big life events—with good food on the table.

B6 Thursday, July 28, 2022

SMFI brings its health caravan to Manila via SM City Sta. Mesa

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M Foundation, Inc. (SMFI) will provide free medical consultation and medicines to pre-listed 300 patients during the medical mission at SM City Sta. Mesa, on July 29, 2022, starting at 9:00 AM. Other diagnostic services to be given include x-ray, sugar test, cholesterol test, uric acid test, and hemoglobin test.

This social good initiative is made possible through collaboration with the Philippine Red Cross-Quezon City Chapter, SM Supermalls, and other volunteer doctors and specialists.

Intended beneficiaries are members of the Philippine Movie Press Club, Inc. (PMPC) and their families, other members of the entertainment media, and the communities within Sta. Mesa, Manila.

The medical mission will be held at the 3rd level of SM Sta. Mesa. Entrance 2 opens at 9:00 AM. Registration starts at 9:00-12:00NN. Stubs for the medical mission will be distributed among the pre-listed participants.

SMFI’s Health and Medical Program is headed by Ms. Connie Angeles, former Quezon City vice mayor, and currently host of the longest-running

THE SMFI Health and Medical Program headed by Ms. Connie Angeles (standing, center) and her team composed of Dr. Bless Bertos, Dalfhen Samson, Jennifer Serrano, Albert Uy, Roma Hierro and Rolando Sagun. health and public service program, Kapwa Ko, Mahal Ko. The medical mission is part of the advocacy project of the PMPC for the entertainment industry.

Aside from the health caravan, the Foundation, through its Health and

Medical Program, upgrades public health centers in its host communities across the country. To date, it has renovated more than 170 health and wellness centers around the country and has served more than 1 million patients during its medical missions.

BRIA Homes featured at NREA-DHSUD’s 26th Housing Trade Exhibit

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WARD-WINNING housing developer BRIA Homes recently participated in the 26th Housing Trade Exhibit organized by the National Real Estate Association (NREA) and Department of Human Settlements and Urban Development (DHSUD), one of the alliance’s first highly successful onground events, post-pandemic.

Held last July 1 to 3, 2022 at the Glorietta Activity Center, Makati, the trade exhibit came in the wake of NREA’s and DHSUD’s June 16 and 17 online convention where property developers joined other industry stakeholders in a virtual discussion of vital real estate concerns and their possible solutions.

As envisioned, the on-ground activity gave BRIA Homes and other exhibitors a chance to connect with potential home buyers. BRIA’s sales teams were, of course, on hand to answer inquiries and even handle actual transactions.

For both major events, BRIA signed up as partner and sponsor, sharing in the real estate industry’s buoyant prospects for the year 2022 and beyond. As one of the trade exhibit’s most popular draws, BRIA’s showcase of its popular house models encouraged aspiring Filipino homeowners to see for themselves why its superior quality, value-for-money abodes have become the ‘home of choice’ for Filipinos here and abroad.

At the exhibit, BRIA Homes and other members of the NREA paid tribute to special guests DHSUD Secretary Eduardo del Rosario and Department of Interior and Local Government (DILG) Undersecretary Epimaco Densing for their valuable contribution to the housing industry during the last six years.

Aside from the exhibits of top residential developers and allied industry participants, the event also featured presentations by sponsors, performances from the Center for Pop Music, and an on-the-spot postermaking contest.

Other important guests at the trade exhibit included Makati City’s Mayor Abigail “Abby” Binay; Vice Mayor Monique Yazmin Lagdameo representing Marlen Acosta; Senior Vice President Benjamin Felix, Jr. representing Pag-IBIG Fund President Acmad Rizaldy Moti; NREA Adviser Marcelino Mendoza and Glorietta general manager Hamm Katipunan.

Apart from BRIA Homes, exhibitors included several other real estate companies and stakeholders in the housing industry.

BRIA Homes Division Head Eduardo Aguilar expresses the company’s appreciation for the chance to reach out to potential homebuyers and present BRIA’s viable housing options in its fiftyplus residential projects nationwide.

“It was truly an incredibly productive way to entertain casual walk-ins and passersby and offer them BRIA’s contemporary designed units, its leisure facilities, and its security features, among BRIA’s various value propositions.

Property buyers and investors can still check out BRIA house models via virtual tours in the BRIA website (www. bria.com.ph), inquire through the official BRIA Facebook page, or reserve a BRIA home online via https://www.bria.com. ph/online-reservation/.

BRIA Homes is a subsidiary of GOLDEN MV Holdings, Inc., one of the top real estate companies in the country.

Acclaimed for its massive footprint of over 50 developments in major Philippine cities and municipalities, BRIA Homes is committed to bring quality and best-value residential communities closer to everyday Filipino families. Through a diverse portfolio of properties such as house-and-lots and condominiums, BRIA Homes promises to provide the right property option for every Filipino’s needs.

To know more, visit their website at www.bria.com.ph, like and follow “Bria Homes, Inc.” on Facebook, Twitter, Instagram, YouTube, Pinterest, Spotify, Viber Community, Telegram Channel, Kakao Talk, LINE and WhatsApp, or call 0939-887-9637.

SEVERAL important real estate personalities attended the 26th NREA-DHSUD Housing Trade Exhibit, including Makati City’s Mayor Abigail “Abby” Binay; Vice Mayor Monique Yazmin Lagdameo representing Marlen Acosta; Senior Vice President Benjamin Felix, Jr. representing Pag-IBIG Fund President Acmad Rizaldy Moti; NREA Adviser Marcelino Mendoza and Glorietta general manager Hamm Katipunan; DHSUD Secretary Eduardo Del Rosario; and DILG Usec Epimaco Densing III.

Fil-Global celebrates its 8th anniversary with new programs and scholarships for ethnic minorities

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IL-GLOBAL Immigration Service Corporation is celebrating its 8th year anniversary on August 12, 2022, with the theme: ” One step closer, one flight to success”.

Established in 2014, the company has been successfully processing visas for Filipino students wishing to study abroad. It has earned its position as a top-notch immigration service company and has dedicated itself to helping Filipinos, study, work and immigrate to countries like the United States, Canada, Australia, and the United Kingdom, to name a few.

The company is running a lifetime membership program whereby its members enjoy its consulting services for life. They can call any of the Fil-Global service staff any time of the day or night for help, and these service personnel will respond to their needs no matter what time it is.

The company partners with known schools abroad and have been able to help so many students land a part-time job while studying. The possibility of bringing in family members such as spouses, parents, or children is not remote for students while studying and working abroad.

One of its flagship programs of Fil-Global is the “Fly Now Pay Later” promo and its members can avail of air tickets paid by the company in advance as a loan. This is the company’s way of extending its services a mile farther particularly benefitting the students leaving the country without so much funds in their pocket.

According to its managing director, Bertch Ian Ranis, his business will remain an obliging and humanitarian company not only for the “haves” but also for the “have nots” in the economic circle. “Even if we become a multimillion-dollar company we will never cease helping people, especially those who are

BERTCH Ian Ranis, Managing Director of Fil-Global Immigration Services Corporation in so much need ”, says Mr. Ranis.

In the Philippines, it is the only immigration service firm that has an ISO certification. ISO 9001:2015 specifies that Fil Global has met all requirements for a quality management system and has demonstrated its ability to consistently provide products and services that meet enhanced customer satisfaction, including processes for improvement, as well as all applicable statutory and regulatory requirements.

During the anniversary celebration this August, many more programs and activities will be announced by the company, including some scholarships for talented Filipino students belonging to ethnic minorities.

Security Bank continues BetterBanking service delivery with new branch in Macapagal Avenue, Pasay City

SECURITY Bank opens its 316th branch in Macapagal Avenue, Pasay City

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ECURITY Bank continued to expand on its BetterBanking footprint by opening its latest branch in Macapagal Avenue, Pasay City.

The Bank hopes to tap into a mix of retail, commercial, and corporate clients in an area which is fast becoming one of Metro Manila’s most exciting business, residential, leisure, and cultural hubs, As part of its BetterBanking promise,

the Macapagal Avenue branch will have a fully transformed look and setup, consisting of three areas: 1) an automated area where clients have access to ATMs, CAMs, and a service phone to easily contact the Bank’s customer service hotline; 2) a self-serve area equipped with an iPad, a laptop, and a queue machine, and 3) a face-to-face area where clients can easily transact with tellers and speak with other branch personnel.

“We, at Security Bank, will continue to expand our branch network to reach Filipinos and provide them with innovative, BetterBanking branch experiences, tailored to their needs. We look forward to serving more clients as we achieve our vision of becoming the most customer-centric bank in the country,” said Leslie Y. Cham, EVP, Branch Banking Group.

To know more about Security Bank’s branch locations and to find the one nearest you, visit Security Bank’s website or its official Facebook page for more information.

Mary Johnston Hospital and WeGen Energy PH hold Project Healing Light switch on

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ARY Johnston Hospital, in partnership with WeGen Energy Philippines, held the Project Healing Light switch on July 27, 2022, at 1:30 pm.

Mary Johnston Hospital is the only Methodist Church hospital in the whole of the Philippines and has been serving for 105 years in Tondo, Manila, where the majority of the patients are poor. Through the years, the hospital is credited with drastically reducing infant mortality with its advice on proper nutrition, care, and sanitation.

Project Healing Light is a green initiative project by Mary Johnston Hospital. It is powered by 389.12kwp through its solar PV system. The system is expected to produce 10, 217.659 kwh od solar-generated electricity in 25 years.

The savings from the solar panel yield will help cross-subsidize the health needs of the hospital’s indigent patients.

This project which will also help mitigate carbon emissions and the process help the environment against climate change, is made possible by WeGen Energy Philippines, a renewable energy company which harnesses the main source of energy on earth-the power of the sun and the benefits of solar energy.

WeGen specializes in state-of-the-art solar PV systems for homes, infrastructures from small, medium and big business, government

buildings, large industrial and commercial properties, resorts, churches, schools, and offgrid communities and islands.

WeGen believe in the #thepowerofsharing and brings renewable energy for underserved communities. The company aims to bring down electricity costs and help communities produce their own electricity which they can also share.

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Thursday, July 28, 2022 B7

Constant monitoring needed for better heart health, hypertension awareness

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By Rory Visco | Contributor

he Covid-19 pandemic has been ongoing for more than two years. With gloomy reports of deaths at the height of this global health crisis, it was still not the leading cause of death among Filipinos.

The Philippine Statistics Authority (PSA) revealed that for 2021, the second year of Covid-19, coronary heart disease remained the country’s top killer, where hypertension, a condition often linked with coronary heart disease, is often called the “silent killer.”

That is why, according to Dr. Alejandro Diaz of the Philippine Society of Hypertension (PSH), it is important to continue building and promoting awareness for conditions like this.

“Cardiovascular disease affects a third of adults in the world, and it is

the largest epidemic ever known to mankind. So therefore, raised blood pressure continues to be the biggest contributor to the global burden of disease and to global mortality leading to around 10 million deaths each year,” said Diaz, who leads the PSH campaign called “May Measurement Month 2022” or the MMM, which kicked off in May and will run until August 31 this year.

Given the reluctance to go to doctors’ clinics, Filipinos are advised to make a habit of monitoring their health with useful and convenient tools especially with the increasing

number of Covid-19 cases—again— in the country.

Preventive care

Dr. DIAZ emphasized that the practice of constantly monitoring one’s health contributes to what he calls “preventive care” which helps mitigate the risks of diseases. “Essentially, we know that it is better to prevent the disease from happening rather than curing it when it is already there. Moreover, heart-related conditions such as hypertension are best managed when one is on top of health monitoring,” he explained.

“If you look at the economic estimates in managing hypertension, it’s US$370 billion annually. That is the estimated global direct medical cost of hypertension. But if you prevent it, you can actually save US$100 billion per year—that is if you effectively manage the blood pressure, and more so if you prevent them from developing hypertension,” explains Dr. Deborah Ona, PSH President.

Dr. Ona said that through the MMM, they aim to provide diet and lifestyle treatment advice to participants with high normal to hyperten-

sive blood pressure ranges and gather significant data on hypertension to motivate the government to improve local screening facilities and contribute to the reduction of the global burden of diseases related to raised blood pressure.

Ideally, she said a monthly checkin on the blood pressure is advised, which can be done through health centers. Nevertheless, she said more frequent checking can also be done, especially for hypertensive patients.

That is why, she emphasized, it is advisable to keep a blood pressure monitor handy at home.

There is also no need to wait for a doctor’s recommendation before implementing a monitoring regimen.

In fact, she said having this information ready in advance can help physicians have a better-guided diagnosis and tweak prescriptions as needed.

Many health experts emphasize the importance of a consistent monitoring regimen in the proper management, and more ideally, the effective prevention of hypertension.

During the May Measurement Month 2022 kick-off, Dr. Ona reiterated the need to screen and measure

all patients, regardless of age. “Those who are 18 years old and above should know their cardiovascular risks. And then, we need to encourage them to institute lifestyle modification at the outset so that we can prevent them from developing cardiovascular disease.”

Manual or digital blood pressure monitors

What was highlighted when speaking of preference for either manual or digital blood pressure monitors are the benefits of the latter. “For one, digital blood pressure monitors offer convenient features such as easy-to-use cuffs and highly developed algorithms for blood-pressure measurement that allow quick measuring. Digital blood pressure monitors are also more user-friendly for those measuring their blood pressure from the comforts of their homes as it does not require any medical background or skill to practice,” Dr. Ona explained.

But most importantly, she said the major reason automatic blood pressure monitors are more advantageous over the auscultatory method

WHO issues temporary guide Eating healthy is the foundation for good health to aid response vs monkeypox

By Claudeth Mocon-Ciriaco.

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orld Health Organization (WHO) Director-General Dr. Tedros Adhanom Ghebreyesus declared on July 23 that monkeypox is a public health emergency of international concern (PHEIC).

The WHO also issued Temporary Recommendations (TRs) to guide the response.

For countries like the Philippines with no history of monkeypox in humans, these include the following: 1. Activate multi-sectoral coordination mechanisms for readiness and response to stop human to human transmission; 2. Avoid stigmatization and discrimination against any individual or population group that may be affected to help prevent further undetected transmission; 3. Intensify epidemiology and disease surveillance; 4. Intensify detection capacity by raising awareness and training health workers; 5. Raise awareness about virus transmission, related prevention and protective measures, and symptoms and signs among communities that are affected as well as among other population groups that may be at risk; 6. Engage key community-based groups and civil society networks to increase provision of reliable and factual information; 7. Focus risk communication and community support efforts on settings and venues where close contact takes place; 8. Immediately report to WHO probable and confirmed cases of monkeypox; and 9. Implement all actions necessary to be ready to apply or continue applying further “Up to now, there has been no finding in the Philippines that fits the definition of a suspected monkeypox case. The clinical presentation is often explained by other diseases that look like monkeypox, but is not the same,” said Undersecretary Maria Rosario Vergeire, Officerin-Charge of the Department of Health.

“The DOH will keep the Filipino public updated with factual information,” Vergeire added.

Monkeypox virus

The DOH said that monkeypox is an illness caused by the monkeypox virus, which is related to other viruses like smallpox.

It is called such because it was first detected in monkeys in the 1950s, even though it has always been detected in other animals like rats and primates.

The first human case was documented in the 1970s.

The virus is transmitted through direct contact with an animal, human, or materials contaminated with the virus.

The virus can enter the skin, respiratory tract, or the mucous membranes (e.g. eyes, nose, or mouth). Human-to-human transmission through droplets is also believed to occur, hence the possibility of transmission through prolonged faceto-face contact.

Symptoms

Symptoms of monkeypox are generally mild and include fever, headache, back pain, cough, and sore throat; it can also include the presence of swollen lymph nodes.

Like chickenpox, the typical feature is a blister-like rash that appears around one to three days after the appearance of other symptoms. The rash usually starts in the face and goes down to the rest of the body, and can be characterized under the following stages: n Macules n Papules n Vesicles n Pustules n Scabs Overall, the duration monkeypox can last from two to four weeks and is typically self-limiting, although it can also cause death. It is important to note that symptoms of monkeypox can look like those of other diseases.

Right now, the DOH said, there is no readily available way to diagnose monkeypox,otherthanusinglaboratorytests that detect genetic material.

“There is no definitive treatment, only supportive care while the usuallyself-limiting disease runs its course. If you need clinical attention for monkeypox, consult your doctor for other possible treatments like immunoglobulins,” the DOH said.

Prevention

n Avoid contact with animals including monkeys who could harbor the virus; n Practice good hygiene including hand washing; and n Isolate yourself if experiencing any of the symptoms listed above.

The DOH also appealed to the public to visit its web site https://doh.gov.ph/ for advisories, and the websites of public health agencies in the countries you are traveling to.

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healthy diet, which is part of a healthy lifestyle, is the foundation of good health.

It is a diet that should satisfy one’s energy and nutrient needs for proper body functions, growth and development, daily activities and maintenance of health, keeping well within one’s caloric needs.

Hence, it takes into consideration both quality and quantity of food consumed by a person.

It also provides just enough energy for one’s daily activities without going beyond one’s caloric needs to maintain a healthy body weight.

Energy requirements differ from person to person and the energy provided by a healthy diet should balance with one’s energy expenditure.

“Kaya naman ngayong July, alalahanin na kumain ng gulay at iba pang mga masusustansyang pagkain upang mabuo ang kinakailangang Go, Grow, and Glow food ng ating katawan, [This is why this month of July, remember to eat vegetables and other nutritious food so that you will be able to get the Go, Grow and Glow food for our body],” Health Undersecretary Maria Rosario Vergeire, Officer-in-Charge of the

Department of Health, said.

Go food gives a person energy. They contain fat and carbohydrates. Butter and cheese are sources of fat while bread, rice and pasta are rich in carbohydrates.

Glow food keeps your body well. They are rich in vitamins and minerals. They help maintain good eyesight, healthy skin, and prevent many diseases. Fruits and Vegetables are glow food.

Meanwhile, grow food helps a person grow tall and strong for they are rich in protein. Protein-rich foods build muscles. Protein can be found in meat, chicken, peanuts, and beans.

Nutrition month

NUTRITION Month, an annual campaign held every July, has been institutionalized by schools and local government units as well as other stakeholders to create greater awareness on the importance of nutrition among Filipinos.

The campaign aims to increase awareness on the importance of healthy diets which protect against both underand overnutrition and non-communicable diseases (NCDs) such as hypertension, diabetes, cardiovascular diseases and certain types of cancer.

The DOH said a healthy diet encom-

passes a wide range of benefits, with positive impacts on nutrition, overall health, economy as well as the environment.

According to the World Health Organization (WHO), a healthy diet emphasizes regular intake of vegetables, fruits, whole grains, root crops, fat-free or lowfat milk, lean meats, poultry, fish, egg, beans and nuts. It is also low in saturated fats, trans fats, cholesterol, sodium and added sugars.

Meanwhile, healthy diets during emergencies mean providing adequate nutrition, and not just adequate amount of food or calories.

Energy needs can be met by providing a range of commodities while protein needs could be satisfied with mixtures of animal and plant-based food.

Dietary guidelines

In 2012, the Food and Nutrition Research Institute of the Department of Science and Technology (FNRI-DOST) released a set of dietary guidelines based on the eating pattern, lifestyle, and health status of Filipinos called the Nutrition Guidelines for Filipinos (NGF).

Basically, the NGF summarizes the most important nutrition messages for Filipinos of all ages. Claudeth Mocon-Ciriaco

Nutrition program expanded to help nourish more children nationwide

By Roderick L. Abad Contributor

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ONSISTENT with its thrust to bring positive change to the lives of Filipino families, especially in addressing the problem of malnutrition, Mega Global Corp.

(MGC) recently rolled out its Mega Bigay Sustansya program which had more sustainable feeding days, broader coverage, stronger engagement, and additional partners.

Launch at the Prime Hotel in Quezon City, Mega Bigay Sustansya Year four has the Mega Tiu Lim Foundation (MTLF) teaming up with both the public and private sectors.

Meals and recipes were co-created and nutrition workshops for the parents were developed with the Department of Science and Technology, Food and Nutrition Research Institute (DOST-FNRI).

The Department of Social Welfare and Development (DSWD), on the other hand, helped in gathering volunteers and identifying areas that mostly need assistance to address malnutrition.

Meanwhile, the Reach Out Feed Philippines (ROFP) extended aid with meal preparation and distribution, coordina-

tion with local government units, and assessment of beneficiaries.

Expanded initiatives

TO ensure that this program reduces malnutrition among Filipino children, the number of feeding days has been doubled from 60 to 120, consisting of two meals a day for six days per week, for a total of 160,800 meals.

In addition, geographic coverage of the program has been expanded to cover seven locations, including Metro Manila and Regions 3, 4A, 4B, 6, 8, and 9. Beneficiaries are four to 12 years old kids.

To top it all, the DOST-FNRI has conducted nutrition and meal management training for the parents and guardians of the beneficiaries for them to have the right knowledge on the proper sustenance of their children.

Affordable yet nutritious

For MGC and MTLF, solving malnutrition in the country can be achieved by providing high-quality, nutritious, value-for-money products—not only for beneficiaries but for customers as well.

“The pandemic and global economic challenges have made it difficult for families from impoverished commu-

nities to provide nutritious meals for their children. We hope that Mega Bigay Sustansya will be of substantial help to Filipino families and will keep children nourished, so that they can attain good health which is so essential for their development,” said MGC Chief Growth and Development Officer Marvin Tiu Lim. “Mega Global’s relentless efforts to alleviate the malnutrition problem in the country will go a long way in building a generation of healthy Filipinos who can make a difference in their communities and the country,” noted Dawn Marie Cabigon of ROFP. Agreeing with them was DSWD’s Jason Quejada, who said: “Mega Bigay Sustansya Year four is a timely effort to help more families sustain proper nutrition for their children. We commend Mega Global’s efforts to address this important concern.”

Dr. Imelda Angeles-Agdeppa, Director IV and Scientist IV at DOST-FNRI, underscored the importance of sharing knowledge on nutrition to the people.

“Mega Bigay Sustansya provides us with a good opportunity to engage families and teach them about the importance of feeding nutritious meals to their children,” she stressed.

is the accuracy of readings is ensured.

An important consideration for choosing a blood pressure monitor is that it is clinically validated, such as the OMRON digital blood pressure monitors.

OMRON, a staunch supporter of MMM since 2017, hosted the streaming of MMM 2022 kick-off program via its official social media channels.

OMRON has been a partner of the PSH in enhancing awareness levels on the benefits of home blood pressure monitoring by providing free checkups in pharmacies and densely populated areas across the country.

“OMRON Healthcare has been advocating to decrease the prevalence and ease the burden of hypertension. Through our support, we hope to encourage more Filipinos to practice blood pressure monitoring as a health habit,” said Yusuke Kato, General Manager for OMRON Asia Pacific Pte. Ltd–Philippine Branch (Healthcare Division).

Nonetheless, what matters most is that Filipinos ensure that their blood pressure is regularly being measured following the safe and correct procedure.

Asian Cancer Institute celebrates 7th anniversary

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he Asian Cancer Institute (ACI) of Asian Hospital and Medical Center celebrated its 7th anniversary this month with a series of activities that raised awareness against the different cancers.

It was also the opportune time to give thanks to the ACI doctors and staff for their dedication and hard work.

The start of the month saw the launch of the “Your Onco Cares” video series. The initial four episodes had Dr. Michelle Rodriguez talking about childhood cancer, Dr. Jose Vincente Prodigalidad on prostate cancer; Dr. Jaemalyn Marie Fernandez-Ramos on brachytherapy and Dr. Esther Ganzon on cervical cancer and Loop Electrosurgical Excision Procedure.

Cupcakes were distributed to ACI doctors, staff and other Ancillary units as tokens of appreciation for all the work that they do to make cancer patients comfortable during their visits.

For the patients, 20 ACI patients received via raffle draw 50 percent off CBC vouchers which they can use during their next visit to Asian Hospital.

Cancer can also be tough on the skin of patients. Dr. Claire Marie Reyes-Habito, a dermatologist and CEO of Skin Care for Home, gave away 100 pieces of hand creams that she personally developed to cater to the needs of cancer patients and sensitive skin.

The cream also came with a patient education guide on taking care of the skin during radiation.

“We hope to bring hope and healing to our patients’ cancer journey and encourage them to finish and continue their cancer treatments at ACI,” Dr. Habito said.

Are you tired of your long hair and planning to have it cut? ACI will be accepting hair donations until the end of the year, Mondays to Fridays from 9 am to 4 pm at the Lower Ground Floor, Tower 2 at Asian Hospital.

Donors must have at least 12 inches of hair in length, and it must be clean and dry without styling products like hair spray or mask. The pre-cut hair bundle must be placed inside a sealed plastic bag with complete name and contact details. For inquiries, call Jon Nasaan at 632 8771-9000 local 8246.

Sports BusinessMirror

WILLIAMS POWERS TNT TO PHL CUP SEMIFINALS

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| Thursday, July 28, 2022 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao

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IKEY WILLIAMS renegotiated a threeyear contract the other day with TNT TropangGigaandonWednesdaynight, he proved he’s worthy of the deal.

Williams unleashed 22 of his 26 points in the second quarter—less than 24 hours after signing his new contract—asTNT entered the semifinals with a resounding 116-95 win over Converge in the quarterfinals of Philippine Basketball Association Philippine Cup at the Araneta Coliseum.

“I think this is a great boost for us and everybody’s moving forward in a good direction,” said Williams, who made 7 of 13 shots from the field. “I think it’s just the flow of the game as everything comes at the right time and making the right decision, but there’s still a lot of things to be done.”

Williams scored only two points in the first quarter which TNT led, 30-20, but returned scorching in second quarter to lead the

EJ ON 6.0-M MARK:

THAT’S THE PLAN

Tropang Giga to their biggest lead at 40-22.

Troy Rosario, back from a calf injury, posted 18 points and seven rebounds, while Roger Pogoy and Jayson Castro added 16 and 15 points, respectively, for Tropang Giga.

Kelly Williams contributed 10 points also for TNT. But TNT coach Chot Reyes said there’s still a lot to be done in the semifinals.

“We are still far from this game and there’s still a lot of things to improve on,” Reyes said.

“We cannot take anything for granted.”

Reyes thanked his coaching staff for taking over the team for 17 days while he tended to the national team in the FIBA Asia Cup in Jakarta.

TNT will be face the winner of the Magnolia-NLEX quarterfinals series. The semifinals start on Friday.

Rookie Tyrus Hill led Converge with 18 points. Josef Ramos

Former NBA players reinforce Dragons in PBA, EASL stints

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By Josef Ramos

RNEST JOHN “EJ” OBIENA almost shunned expounding on a question if he’ll, sooner or later, break the so-called “Holy Grail” of men’s pole vault—the 6.0-meter barrier.

“That’s the plan, that definitely I want to achieve,” Obiena told a virtual news conference with a select group of Filipino sportswriters the day after he clinched the country’s first medal at the World Athletics Championships in Eugene, Oregon, on Monday.

“There are only 24 people who have made the 6-meter mark, I want to be the 25th,” he said with confidence and caution.

“There are a lot of things I want to do in the sport. I am still happy to win the bronze but missing six meters is like…there’s something I need to do.”

World record holder Armand Duplantis tops “6-Meter Club”with 6.21 meters he achieved in Oregon, with the legendary Russian-Ukrainian Sergey Bubka first breaking the 6-meter bar exactly on July 13, 1985.

Also on the list are Russians Rodion Gataullin, Igor Trandenkov, Maksim Tarasov, Yevgeniy Lukyanenko and Timur Morgunov; Americans Jeff Hartwig, Toby Stevenson, Brad Walker, Tim Mack and Sam Kendricks; Germans Danny Ecker and Bjorn Otto; Frenchmen French Jean Galfione and Renaud Lavillenie; Australians Paul Burgess and Steve Hooker; South African Okkert Brits; Belarusian Dmitry Markov; Canadian Shawn Barber; Brazilian Thiago Braz; and Pole Piotr Lisek.

Jim Lafferty and Philippine AthleticsTrack and Field Association president Terry Capistrano are confident Obiena could break 6 meters anytime soon.

“He is ready and all he needs is a bit of luck,”said Lafferty, Obiena’s long-time confidante and coach. “The right jump at the right time.”

“His clearance of 5.94 showed under video analysis that had the bar been at 6 meters, he would have cleared it,” Lafferty said. “So we know he can do it and he has already done it.

The bar just wasn’t set there at that time.”

“I have a feeling once he breaks the 6-meter mark, EJ will have his chance to do it over and over again to become the first ever Asian to do it,” said Capistrano who just got back from Oregon on Wednesday. “I believe he can do it after resetting the Asian record.”

“He tried to break it during the competition. He’s just a few centimeters away, but I think it is more of the mental aspect of the game,”said Capistrano, adding that pole vault requires a lot of great skill set and focus to achieve something extraordinary like what Duplantis has been doing.

“Duplantis has been playing the sport since he was five, that’s why his skills and concentration are very impressive,” he said.

Height won’t also be a factor , according to Capistrano—Obiena is 6-foot-2 while Duplantis stands three inches shorter.

Capistrano thanked revered Ukranian coach and training Vitaly Petrov for helping mold Obiena despite his busy schedule that includes coaching athletes from Brazil and China.

THERE are 24 athletes who have broken the 6.0-meter barrier in men’s pole vault and Ernest John “EJ” Obiena wants to be the 25th. AP

“Vitaly treats EJ just like his own son,” Capistrano said.

Capistrano said Obiena will definitely compete at the Cambodia 32nd Southeast Asian Games from May 5

Helping hand for ‘Diay’ C

HOOKS-TO-GO extended a helping hand to two-time Olympian and former Asia’s “Sprint Queen” Lydia De Vega on Wednesday.

De Vega, 57, is currently in critical condition after undergoing brain surgery earlier this month—an offshoot of her breast cancer.

Upon knowing the situation, Chooks-to-Go president Ronald Mascariñas immediately asked for the release of P250,000 to the De Vega’s family to help with the mounting cost they have incurred in hospital bills.

“Madame Lydia is a living legend in Philippine sports, a true queen,”Mascariñas said. “During her heyday, she was someone we looked up to as she broke barriers for the Filipina athlete.”

“Imagine, she won numerous Asian championships and dominated the Southeast Asian region for years,” he said. “And she did it with class and flair that have yet to be matched up to this day,” he added.

Receiving the check were Lydia’s daughter Stephanie and son-in-law David Koenigswarter. Olympian boxers Onyok Velasco, silver medalist in Atlanta 1996 and Eumir Felix Marcial, bronze medalist inTokyo 2020, presented the check to the couple.

“It’s very heartwarming. We are very happy at we are very thankful to everyone who’s helping her recover,”said Stephanie, a former volleyball player. “This is no ordinary race, this is one big race she has to hurdle, and we’re happy that Chooks-to-Go is helping her win this one.”

LDT Home Fibr and Creamline take the first of two cracks at the semifinals against rivals whose respective campaigns had taken separate courses with two playdates left in the elimination round of the Premier Volleyball League Invitational Conference.

While the High Speed Hitters brace for a stiff challenge from the back-to-the-wall Choco Mucho Flying Titans thrilled over the expected return of their stalwarts in their 2:30 p.m. clash at the Filoil Ecooil Centre on Thursday, the Cool Smashers set out for their 5:30 p.m. match confident but wary against the also-ran Chery Tiggo side seeking to end their unsuccessful campaign with a flourish.

Tied at second with 3-1 won-lost records, PLDT and Creamline need to hurdle at least one of their last two assignments to join early semifinalist Cignal HD in the next round with idle Army gaining solo fourth at 3-2 following a sweep of Chery Tiggo last Tuesday.

Despite its 1-3 card, the fifth-running Choco Mucho remains hopeful of barging into the next round via backdoor.

But the FlyingTitans must not only sweep its last two games, including against Petro Gazz, but also hope that Army would drop its final game to Creamline, both on Saturday.

One thing that could go for Choco Mucho is that top hitter Kat Tolentino and fellow starters Des Cheng and Cherry Nunag and back-up libero Thang Ponce are likely to suit up after failing to suit up in their last two games due to various reasons.

Theywereactuallycleared to play as early as last Saturday against sister team Creamline but coach Oliver Almadro had opted to sit them out for conditioning.

Middle hitter/blocker Aduke Ogunsanya, however, is out with an ankle injury.

That makes the PLDT-Choco Mucho clash a match to watch with Jules Samonte, Fiola Ceballos, Chin Chin Basas and the towering pair of Dell Palomata and Mika Reyes expected to crank up their respective games to foil the Flying Titans and tow the Cool Smashers and the Lady Troopers into the next round Two guest teams from Taiwan (KingWhale) and Japan (Kobe Shinwa) will join the top four squads in the next round, another single round robin phase with the top two disputing the crown in a winner-take-all match.

Meanwhile, under the PVL points system, teams receive 3 points for a 3-0 or 3-1 victory, 2 points for a 3-2 win, and 1 point for a match lost via 2-3. No points are awarded for games lost in 0-3 or 1-3 fashions or via forfeit.

Army has so far gained 9 quotient points while Choco Mucho has 4.

Games are aired live on One Sports (free to Air Ch 41 and Cignal CH 6) and One Sports+ (Cignal Ch 91 SD, Ch 261 HD). Both channels are also available on Cignal’s OTT Platform, Cignal Play, with video on demand also available on the platform.

Matches can also be streamed on social media application KUMU and on the league’s official website pvl.ph.

F

AR Eastern University (FEU) jumped to a 19-1 first quarter lead but had to stay tough on defense in the final period to post a 62-55 win over San Sebastian College-Recoletos, 62-55, for the Tamaraws’ first victory in the Filoil EcoOil Preseason Cup on Wednesday at the Filoil EcoOil Centre in San Juan.

L-Jay Gonzales scored five points in the first four minutes as the Tamaraws trampled and gored Golden Stags who missed all 16 field goal attempts and committed 12 turnovers in the first quarter alone.

Dylan Garcia split his free throws for San Sebastian’s lone point in the opening period and could only score again after more than three minutes in the second quarter on Garcia’s short jumper.

FEU led by as many as 20 points but saw its comfortable advantage reduced to 54-51 when Rommel Calahat scored in the shade with 52.7 seconds left.

Royce

Russia eyes Paris 2024 Olympics despite sports bans

P

ARIS—With two years to go until the Paris Olympics open, Russia is making plans for its athletes to live and compete in the French capital even though many remain barred from upcoming qualification events because of the war in Ukraine.

Russian Olympic Committee president Stanislav Pozdnyakov wrote on the Telegram messaging app Tuesday that the country was working to get its athletes access to qualification events and already making plans for the Olympic village in 2024. Most Olympic sports have suspended athletes from Russia and Belarus since the invasion of Ukraine began in

February, following a recommendation from the International Olympic Committee (IOC).

However, the IOC has not suspended the Russian Olympic Committee, the body which enters Russian teams for the Games.

“In exactly two years, the Olympic Games start in Paris. Despite all of the circumstances, the Russian Olympic Committee is a fullfledged participant in the Olympic movement,” Pozdnyakov wrote. “We are continuing our systematic preparations for the Games and are also carrying out work to ensure qualifying opportunities and equal presence of our athletes in the Olympic village and at the venues, their

The 6-foot-2 Powell was also a member of Team USA that took home the bronze in the 2019 Pan American Games in Peru.

The Dragons’ management was ecstatic about having Nicholson and Powell coming on board with the team as imports.

“Andrew Nicholson is someone that we’ve been keeping an eye for a while.

His size is undeniably an advantage on the court, but it’s his skillset and his approach to the game that really attracted our attention,” Dragons general manager Liu Quansheng said.

“He was a strong inside presence and can knock down shots from beyond the arc as many Chinese fans have seen when he played three season the Chinese Basketball Association,” Quansheng said.

“We can’t wait to start working with Andrew.”

Brian Goorjian, the multi-titled coach of Bay Area Dragons, is also high on acquiring the service of Powell.

“We have signed a standout young scoring guard who has had a sensational college career and worked his way up from the G League to the NBA. I’m very excited he has chosen to play for the Bay Area Dragons which Myles sees as a pathway back to the NBA,” said the 68-year-old Goorjian, who steered the Australian national team to the bronze medal in the Tokyo Olympics last year.

Tamaraws stop Golden Stags’ PLDT 6, Cool Smashers seek semis berths mighty rally in preseason tilt

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LYDIA DE VEGA’S daughter, Stephanie (third from left) and son-in-law David Koenigswarter, receive the check from Olympian boxers Onyok Velasco (left) and Eumir Felix Marcial.

to 16, as well as the Hangzhou 19th Asian Games from September 23 to October 8 next year.

The world championships from August 19 to 27 in Budapest is also on Obiena’s 2023 program.

HE Bay Area Dragons are dead-serious both in their coming campaigns in the Philippine Basketball Association (PBA) Commissioner’s Cup and the East Asia Super League (EASL) inaugural Season 1.

The club announced on Wednesday the signing of former National Basketball Association (NBA) players Andrew Nicholson and Myles Powell as the Dragons’ imports in their bid to win the championships in the two separate meets.

The 6-foot-10 Nicholson of Canada spent five seasons in the NBA where he was a first round pick of the Orlando Magic in the 2012 draft. He also suited up for the Washington Wizards and the Brooklyn Nets, and most recently, played for the Daegu KOGAS Pegasus in the Korean Basketball League (KBL).

He also represented Canada in the 2015 FIBA AmeriCup and 2015 Pan American Games.

Nicholson is expected to reinforce the Dragons in the mid-season Commissioner’s Cup, where the PBA height limit for imports is 6-foot-10.

Powell meanwhile, stands as the second import for the team that will represent Greater China in the EASL. The 25-year-old Powell signed a two-way contract with the Philadelphia 76ers during the 2021-22 NBA season and appeared for 14 games with the team. He last played for the Delaware Blue Coats in the G League.

participation in events during the Games.”

Qualifying for some Olympic sports has already begun, but others won’t start until next year. If sports federations lift bans on Russian athletes competing in international events such as Olympic qualifiers, that could lead to boycotts

by Ukraine. The International Judo Federation has allowed Russia’s team to keep competing as neutral athletes without their flag or anthem. In response, Ukraine refused to participate when Olympic judo qualifying began last month, in particular because it said that 11 of 24 athletes on the Russian team at the event were members of the military. AP

THE High Speed Hitters go all-out for the all-important win against the Choco Mucho Flying Titans.

Alforque kept the Tamaraws ahead with an insurance layup with 32.4 seconds to go.

“We had to remind them about the fundamentals. Our team, especially our guards, likes to gamble. We always have to tell them to stay disciplined,” said FEU’s acting head coach Eric Gonzales following their first win in three games in Group B. Alforque wound up with 11 points and seven rebounds, while Patrick Sleat had 13 points, four rebounds and three assists. Gonzales also had four assists before fouling out midway the fourth quarter.

“We really need to step up. We lost one of our main guys, so everyone who’s sent in has a role to play,” said Sleat as key reserve Bryan Sajonia also had to be stretchered out of the court because of muscle fatigue in the third quarter.

Raymart Escobido scored 13 points, while Michael Are added 12 points for San Sebastian.

Jielo Razon was rebounding and dishing out assists pretty well but missed eight attempts only to find himself making his ninth try, a threepointer over the outstretched hands of over EAC’s Kriss Gurtiza —that hoisted University of Perpetual Help over Emilio Aguinaldo College, 66-63, in the other game.

“My coaches and teammates told me to make the shot and luckily I did make the game-winner,” said Razon, who had seven rebounds and seven assists in the game.

“The play wasn’t for him [Razon] but he insisted of making the shot,” Perpetual head coach Myk Saguiguit said of the gunner he’s been mentoring since high school. “He’s been missing a lot of shots, but at any given time, I’ll give it to him.”

Cyrus Nitura also had a 17-point and 10-rebound double-double stint for the Altas, who improved to 1-1 in Group A. RalphRobinhad23points,whileGurtiza and Allen Liwag chipped in 12 points apiece for the Generals, who also hold a 1-1 card.