BusinessMirror March 04, 2022

2022 ‘critical’ for PHL growth to outpace debt

By Bernadette D. Nicolas

F

@BNicolasBM

INANCE Secretary Carlos G. Dominguez III said this year will be a “critical” time for the country as it needed to outgrow its debt by stimulating robust economic growth.

Speaking at the Bureau of Internal Revenue’s (BIR) 2022 National Tax Campaign Kick-Off, Dominguez on Thursday stressed the need to bring back high GDP growth in order to reduce the Philippines’s debt-to-GDP ratio—now at a 16-year high of 60.5 percent as of end-2021 due to the unexpected costs of the pandemic. Apart from debt-to-GDP ratio, the national

ROTARY CLUB OF MANILA JOURNALISM AWARDS ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2006 National Newspaper of the Year 2011 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Patria Award 2021 ProPro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

government’s budget deficit as a share of the economy also spiked to a new record high of 8.61 percent of GDP in 2021.

While Dominguez called these levels still “manageable,” he said the Duterte administration is “determined to return quickly to fiscal consolidation.”

He added: “In fact, we have already formulated a program to limit the budget deficit and improve our debt-to- GDP ratio. This is part of our transition plan to the next administration. Essential to our fiscal consolidation program is the improvement of collections to meet our expenditure requirements. This year would be critical, we need to begin

“We have already formulated a program to limit the budget deficit and improve our debtto- GDP ratio. This is part of our transition plan to the next administration.”

outgrowing our debt by restoring our high growth.”

Topping the administration’s st rateg y for t he economy to quickly recover is spending more to modernize the country’s infrastructure, Dominguez said.

On top of these, he said the government needs to invest more in public health system and social services, continue procuring vaccines for the public, rebuild communities damaged by severe weather events caused by climate change.

In the same speech, he urged taxpayers to maximize digital channels to pay their taxes.

– Finance Sec. Carlos G. Dominguez III

See “2022,” A2

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Oil deregulation review faces tight window –lawmakers

By Samuel P. Medenilla @sam_medenilla & Jovee Marie N. dela Cruz @joveemarie

ITH only a few months left before the end of his term, President Duterte issued Executive Order (EO) No. 164, which “commits” the introduction of nuclear power in the country’s energy option to meet the rising local power demands by 2040.

By Butch Fernandez

S

ENATE President Vicente Sotto III is open to calls for Congress to revisit the oil deregulation law despite the very tight schedule of the 18th Congress, as government scrambles to ease the impact of surging world oil prices amid the Russia-Ukraine conflict.

However, the standard bearer of Partido Reporma, Senator Panfilo Lacson, is less optimistic about being able to review in such limited time what he described as a “complicated” law with many ramifications.

Relatedly, Minority Leader Fran k l in M. Dr i lon sa id t he Duterte administration should leave the oil deregulation review to the next administration and FROM STRAY TO PRODUCTIVE Stray dogs are seen at the Quezon City Animal Care and Adoption Center in Barangay Payatas, Quezon City, where for two months they are trained and Congress. rehabilitated before being deployed to government agencies in need of their services, such as the fire bureau, the police and homes for the elderly. BERNARD TESTA Palace officials had said the review of the law was necessary to focus on the need for unbundling of prices, which regulators had long pushed but oil companies resisted, and the mandatory stockpiling for petroleum firms.

By Malou Talosig-Bartolome tion to the commercial contract that arbitration, it’s been revealed that we Fielding questions while camdates back July 1878. are the real Kiram],” the 80-year old paigning in Camarines Norte, HE Paris Arbitration Court has Sultan Pujdalun Kiram II, one of leader said in a phone interview with Senate President Sotto sa id, ordered the Malaysian governthe nine heirs claiming to be direct dethe BusinessMirror. when sought for comment on ment to pay $14.92 billion to the scendants of the Sultan Jamal Al Alam, BusinessMirror sought the reacMalacañang’s plea to lawmakheirs of the Sultanate of Sulu as comsaid they were “very happy” when they tion of the Department of Foreign Afers to revisit the Downstream pensation for Kuala Lumpur’s alleged learned about this award. fairs of the news, but as of press time shows products, withhosts hostsand and consumers become morediscerndiscernOil Industry Deregulation Act, failure to pay theconsumers lease for Sabah formore “Ang sa amin lang, lumabas ang it was still crafting the statement. shows ofofproducts, with become guestsitproviding providing moredetails details and ingand and connected, weare are seeing that would “depend on and how more than seven years, Spanish mediawe katotohanan kung sino ang tunay na sulThe Philippines has been claiming guests more ing connected, seeing giving testimonies, Zalora said. incredible innovations happening giving testimonies, Zalora said. incredible innovations happening fast Congress and Malacañang portal La Informacion reported. tan of Sulu. Marami ang nagke-claim, Sabah as part of its territory, based would also helpbrands brandsininretailsector sectorthat thatcompletely completely ItItwould help ininthe retail would opt toalso do so.”

Gonzalo Stampa, athe Spanish arbitrapero as a result of arbitration, lumaon the contract drawn between the novate onflexible flexible sales promoreimagine the shopping shoppingbas experinovate on sales the experitor, released the reimagine award through The na kami ang totoong Kiram [For us, Sultanate of Sulu and British North He indicated that if promothe entions,such suchasasgiving giving discounts, ence,” Gunjan Soni, chiefexecutive executive tions, discounts, ence,” Gunjan chief Tribunal de Grande Instance inSoni, Paris what matters is the truth has come out Borneo Company. abling legislation is subjected to and offering easier and attracofficer of the Zalora Group, told an and offering easier and officer of the Zalora Group, told an after the heirs of the Sultanate brought about the real sultan of Sulu. Many review, it could take someattractime. tivepayment paymentoptions optionssuch suchasasthe the online presentation itsare Trender tive online presentation Trender See “Paris,” A2 before the arbitration tribunal a viola-ofofits making claims but because of the buy-now-pay-later (BNPL) opReport2021.

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Asian shoppers. across Southeast Asia.” n japan 0.4449 n UK 68.9153 n HK 6.5778 n CHINA 8.1302 n singapore 37.9746 n australia 37.4949 n EU 57.1622 n SAUDI arabia 13.6981 Source: BSP (March 3, 2022) Indonesia, for for example, example, “It’s a a digital digital diaspora,” diaspora,” she she InIn Indonesia, “It’s Google saw saw a a “10x “10x increase increase inin said,citing citingGoogle Googletrend trendmonitormonitorGoogle said, searchesfor fore-wallet e-walletservices servicesand and ingthat thatshows shows40 40million millionnew newInInsearches ing 15xrise riseininBNPL BNPLservices servicesininthe the ternetusers userscame cameonline onlineinin2021, 2021, 15x ternet lastfive fiveyears. years.Other Otherappealing appealing “bringingthe theinternet internetpenetration penetration last “bringing payment options options like like monthly monthly SoutheastAsia Asiatoto75 75percent.” percent.” payment ininSoutheast installments,toto00percent percentinterinter“Infact, fact,eight eightout outofof10 10InterInterinstallments, “In estfees feeson oncredit creditcards, cards,provide provide netusers usersininthe theregion regionare aredigidigiest net access toto quality quality products products and and talconsumers. consumers.Recognizing Recognizingthis this talsavviness savvinessand andtaste tastefor forluxury luxury Internetand andelectronic electroniccommunicommuniaccess tal tal Internet serviceswhile whilealso alsoimproving improvingfi-fishiftininadoption, adoption,brands brandsquickly quickly andsustainability. sustainability. cationgadgets gadgetsbybytheir theirside. side.Google Google services and shift cation nancialinclusion. inclusion. expandedtheir theironline onlinepresence presencetoto “Thereport reportisispositioned positionedasasa a trendshows showsMalaysian Malaysianshoppers shoppers nancial “The expanded trend Zalora,for forinstance, instance,offers offers21 21 reachthese thesenew newdigital digitalconsumconsumreferencepoint pointthat thathelps helpsZalora’s Zalora’s spendclose closetoto99hours hoursonline onlineon on Zalora, reference reach spend paymentmethods methodsacross acrossthe therereers,and andZalora Zalorareported reporteda a19-per19-per900brand brandpartners partnersnavigate navigatethe the average,“and “andare arethe themost mostlikely likelytoto payment 900 ers, average, gion, including including cash-on-delivery cash-on-delivery centincrease increaseininnew newbrands brandsthat that region’sdiversity diversityand andevolving evolvingrerevalue-driven.” gion, region’s cent bebevalue-driven.” andBNPL BNPLoptions optionsacross acrossthe themarmarjoinedthe theplatform platforminin2021,” 2021,”she she taillandscape,” landscape,”Zalora’s Zalora’sCEO CEOGunGunSingaporean shoppers shoppers are are and tail joined Singaporean kets.ItItlaunched launchedits itsfirst firstco-brandco-brandadded. janSoni Sonisaid. said. mostlikely likelytotoinvest investininluxury luxurypurpurkets. jan added. most creditcard cardininpartnership partnershipwith with Withmore moreSoutheast SoutheastAsians Asians Aside from from digital digital partners partners chases, with with Google Google search search data data ededcredit Aside With chases, RCBCand andMastercard Mastercardininthe thePhilPhilbrowsingnow nowand andgetting gettingthemthemlike Google, Google, Mastercard, Mastercard, H&M, H&M, showinga a21-percent 21-percentyear-on-year year-on-year RCBC like browsing showing ippines,the thefirst-ever first-everfashion fashionand and selves more more online, online, the the average average Lush,Paula’s Paula’sChoice, Choice,HABIB, HABIB,AtAtincreaseininSingaporeans’ Singaporeans’searches searches ippines, Lush, selves increase

‘DIGITAL DIASPORA’

This, as the government scrambles to ensure energy security and cut reliance on fossil fuels as the steady rise in global oil prices is driven further by the Russia-Ukraine conflict.

In the five-page issuance, Duterte ordered the Department of Energy (DOE) to develop and implement the Nuclear Energy Program (NEP) as part of the Philippine Energy Plan and assist the Nuclear Energy Program Inter-Agency Committee (NEP-IAC) in its functions.

The measure is part of the government’s initiative to address the expected 4.4-percent increase in demand for clean energy, requiring 68 gigawatts of additional capacity by 2040.

The NEP includes development of nuclear power infrastructure and encompasses the planning and construction, operational, commercial and postoperational stages of nuclear plants.

“The national government commits to the introduction of nuclear power energy in the State’s energy mix for power generation. The State shall ensure the peaceful use of nuclear technology anchored on critical tenets of public safety, national security, energy self-sufficiency, and environmenByManuel ManuelT.T.Cayon Cayon tal sustainability,” Duterte said.

By

PARIS COURT: KL MUST PAY $14.9B FOR SABAH LEASE

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House leaderAVAO supportive CITY—A leading The chairman of the House Committee on Ways and Means strongly backed Duterte’s policy of pursuing nuclear energy as an alternative energy source, calling this “good fiscal housekeeping.”

@butchfBM

News

BusinessMirror

A2 Friday, March 4, 2022

2022...

Continued from A1

“At the same time, the Bureau must continue making progress in applying digital technologies to all its processes for greater transparency and convenience for our clients. I highly encourage taxpayers to maximize the use of such digital channels. Let us file our tax returns and pay our tax dues electronically this year,” he said.

In 2021, the BIR collected P1.75 trillion or 84 percent of its over P2trillion revenue collection through electronic payment channels.

Likewise, the agency reported that majority or 71 percent of the taxpayers filed electronically inthe second year of the Covid-19 pandemic.

In the same year, the BIR also collected P5.85 billion from its two amnesty programs. Of the total, P4.966 billion was collected through its Tax Amnesty on Delinquencies (TAD) while P883.29 million came from the Voluntary Assessment and Payment Program (VAPP).

In February 2019, President Duterte signed into law Republic Act 11213, which allows taxpayers with delinquent accounts to take advantage of lower rates to settle their obligations. This also provided an opportunity to unclog the administrative and judicial dockets of slow-moving cases.

On the other hand, the VAPP lets taxpayers voluntarily settle their unpaid internal revenue tax, with or without an ongoing audit/ investigation. Those who do so shall not be audited for 2018 for the tax types availed.

www.businessmirror.com.ph

BSP to tie up with DFA to help OFWs in Russia with remittances

By Bianca Cuaresma

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@BcuaresmaBM

HE Bangko Sentral ng Pilipinas is looking to work with the Department of Foreign Affairs (DFA) to put up temporary measures to help Filipino migrant workers in Russia send money back home.

BSP Governor Benjamin Diokno on Thursday confirmed to the BusinessMirror that he has instructed central bank officials to work out coordination with the DFA or the embassy to help Filipinos gain better access to financial services as Russia’s banking system was sanctioned and excluded from world transfer channels after it invaded Ukraine.

Oil...

Continued from A1

Asked whether they see a need to hold a special session in Congress, Lacson replied, “it’s possible but there might be enough time. The problem is we adjourn

In an advisory to the Filipino community Tuesday, the Philippine Embassy in Moscow said major banks in Russia have been heavily impacted by the sanctions.

“Maaar ing makaranas tayo ng mga kaunting isyu sa pagpapadala ng ating pera sa labas ng Russia, partikular upang sustentuhan ang ating mga pamilya [We may experience

June 3.” From May 23 (when sessions resume after the election break) to June 3 is “just two weeks, and might not be enough to tackle the review” of the oil deregulation law.

“If there is a special session, that’s okay because it will add to the session days. Still, I see a very long debate,” Lacson added.

Sotto noted, though, that a special

a few issues with sending our money out of Russia, s pec i f ic a l ly to suppor t our families],” the advisory read.

The BSP chief said they are closely monitoring the situation.“I have instructed the BSP staff to start exploring the DFA/Embassy arrangement,” Diokno told the BusinessMirror.

“We can engage the DFA if temporary measures can be put in place to facilitate of remittances through the embassy,” he added.

Meanwhile, the governor said OFWs can send remittances through channels that do not use financial institutions based or headquartered in countries that impose sanctions against Russia, like Chinese financial institutions.

“If the remittance channels used by our OFWs are coursed through financial institutions headquartered in US, EU, UK or other jur isdictions that impose economic and f inancia l sanctions on Russia, their remittances will be covered by the sanctions,” he said.

He earlier said they are also still monitoring the effect of the conflict on local price movements. “ We cannot dev ise a forecast at this point, based on the changes in the oil prices now. That is very fluid. So it is not wise for us to speculate on that at this time,” Diokno earlier said.

Several economists have also earlier flagged the potential effect of the unrest to the country, particularly on inflation and the peso.

session after June 3 is not possible, “because it’s mandated in the Constitution that the next State of the Nation or the next Congress opens a certain timetable for the break. So, hindi pwede special session doon,” and Congress that time is already adjourned sine die.

“What’s really possible, is [call tne session] now. If they want a special session they should convene it—the president should call for one now, in the next few days, or in the next few weeks before May 9. That is the only time that a special session can be called if it’s that urgent for them.”

ly is happening now—we’ve been proven right again. I was also against GATT-WTO. Also against EPIRA. Only I and Enrile voted against it.]

He noted, partly in Filipino, that under the oil deregulation regime, “now we can see how government’s hands are tied, right? So, I’m in favor of what the Palace is now saying.”

For his part, Senator Panfilo Lacson pointed out that revisiting the law requires careful study.

“That Oil Price Stabilization Fund, that’s a difficult issue.

Can the government afford to set it up again. My only point is, we need to review the TRAIN 2 that we passed. Because it states that the tax on fuel will be suspended if the global oil price reaches $80 per barrel.

The problem with that is it became time-bound.”

Repeal possible

The Senate president, meanwhile, did not rule out the option for opponents of the bill to move for its repeal, something he will support since, he recalled, he had voted “no” to the law.

“Kung i-re-repeal okay din, payag na payag ako. Kasi boto ko diyan ‘no,’ Sotto said. “Yan ang isa sa mga voting records ko e. I voted ‘no’ against the Oil Deregulation dahil kinakabahan akong mangyari ‘yung nangyayari ngayon—tama na naman kami. Ganoon din ako sa GATT-WTO e. Ganoon din ako sa EPIRA e. Kami lang ni then Senator Juan Ponce Enrile who voted against doon sa EPIRA,” or the Electric Power Industry Reform Act. [I’m very much in favor of repeal, because I voted ‘no” to it. That’s part of my voting records. I voted against oil deregulation because I feared the scenarios of what precise-

Paris...

Continued from A1

KL ‘rejects’ award

Malaysia, which also claims Sabah and has been the controlling government over the d isputed ter r itor y, meanwhile “completely rejects” the award, saying it will not recognize both the arbitration proceedings and the subsequent award.

Drilon: Let next leaders do it

Senate Mi nor it y L eader Frank Drilon cautioned the outgoing Duterte administration against “tying the hands” of the next administration with a major policy shift involving a review of the oil deregulation law and instead fast-trac k d istr ibut ion of P2.5-billion subsidy and fuel vouchers to qualified public utility vehicles, including taxi, tricycles and ride-hailing delivery drivers.

“Leave to the next administration the review of oil deregulation law,” Drilon said, stressing that “what is crucial is the immediate distribution of ayuda to jeepney drivers.”

Malaysia has stopped paying the heirs of the Sultanate of Sulu since 2013, as a result of the attempt of some of the Sultanate soldiers to assert a claim over Sabah with the siege of the Lahad Datu island.

According to the La Informacion, the descendants of the Sultanate sought the services of Spanish law firm B. Cremades & Asociados to “recover” the unpaid rental dues by the Malaysian government, after their lawyers saw a clause stipulating that any disputes from the 1878 agreement may be resolved through arbitration.

The heirs of Sulu estimate they were owed $32 billion, which included the natural resources found on the island about 40 years ago, particularly its 1.5 billion barrels of oil and 11 trillion cubic feet of gas reserves.

“The operative part of the award states that said contract is an international private lease, of a commercial nature,” the Spanish portal reported.

Duterte...

Continued from A1

Albay Rep. Joey Sarte Salceda said the nuclear energy policy will reduce the country’s oil dependency.

Fossil fuel prices remain a key national security and economic threat, he said, adding that “energy sovereignty and our shift towards less pollutive energy sources absolutely requires nuclear energy, since solar, wind, and other less stable energy sources require large tracts of land that we do not have.”

Nuclear, he continued, “is also the most dependable source of energy, and it’s not even close.

Nuclear has the highest capacity factor, or the amount of times a power plant is producing at maximum capacity. The lowest is solar, which of course is dependent on sunny days.”

Salceda pointed out that “The problem with being overly dependent on fossil fuels, which accounts for as much as 75 percent of our electricity, is that when problems arise in oil-producing states like Russia or those in the Middle East, Filipino consumers suffer consequences no matter how remote we are from the causes of such problems.”

Salceda, a principal author of House Bill No. 10178 creating a regulatory framework for atomic energy in the country, also hopes the policy commitment from the President will “eventually pave the way for serious policy and financial investment in nuclear research.”

Meanwhile, he sees Duterte’s instructions to review the viability of the Bataan Nuclear Power Plant as “also good fiscal housekeeping.”

Duterte’s EO also directs an inter-agency panel to look intoreopening the mothballed Bataan Nuclear Power Plant (BNPP).

“We spend around P40 million every year to maintain Bataan Nuclear. That means we’re spending that much on a white elephant. I think part of the mandate of the EO, which is to review the BNPP, has to include whether we should already totally decommission the asset as scrap metal, if it’s really dangerous and unsafe,” Salceda said.

“I think at this point it is time to decide whether to revive it, or scrap it altogether and start over.

We can’t always be in suspended animation when it comes to Bataan.”

Franchise approach

Salceda said Congress may consider a “franchise approach” to operating the BNPP. “I think we should bid it out as a Public-Private Partnership and grant its operator a franchise. The thing with nuclear power plants is the gestation period for the investment requires several decades.

So our private partner will need the political and legal security of a franchise from Congress. That is definitely on the table, and I will tell President Duterte to consider that approach as well,” Salceda explained.

Strategic communication

As part of efforts to introduce nuclear power plants in the country, the NEP-IAC is tasked to come up with the legal and regulatory framework for the NEP, develop the needed infrastructure, which may include the possible revival of the Bataan Nuclear Power Plant.

It also contains the use of a “strategic communication” to promote nuclear energy.

This despite the result of the Perception Survey conducted by DOE in 2019, which showed that 79 percent of Filipinos “expressed approval or acceptability of the possible use of or rehabilitation of an existing nuclear power plant.”

The same survey also showed that 65 percent of the respondents approved the building of the nuclear power plants and 78 percent were willing to learn about nuclear energy.

“The national government shall endeavor to continually engage a broad range of stakeholders in completing the work required to implement the national commitment to introduce nuclear power.

It shall invest in programs on stakeholder involvement to enhance public acceptance and increase awareness on the advantages of nuclear power,” Duterte said.

EO 164 was signed last Monday and will take effect upon publication in the Official Gazette or in a newspaper of general circulation.

Dangerous and expensive

International environmental group Greenpeace opposed the new issuance as a major threat to the country’s environment and also economy.

“Nuclear is the most dangerous and most expensive source of electricity and is the last thing the Filipino people need at a time when we are already deep in debt and trying to recover from a major health crisis,” Greenpeace Campaigner Khevin Yu said in a news statement.

Greenpeace called on Duterte to revoke the issuance, which he said would expose the country to possible nuclear plant disasters like that from Chernobyl in Ukraine and Fukushima in Japan.

It also extended a similar appeal to the next administration to scrap the NEP. “The next administration will already inherit a huge debt burden and the pursuit of nuclear will make this even heavier due to steep capital costs for construction, operation of nuclear plants, enormous costs of radioactive fuel storage, and costs for managing a nuclear incident that can reach billions of dollars, as well as price volatility as almost all sources of uranium are in conflict areas,” Yu said.

The Nation BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Friday, March 4, 2022 A3

4 dead as Army foils new IS terror plot in Lanao del Sur

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By Rene Acosta

@reneacostaBM

HE military claimed on Thursday that it had thwarted a possible terror plot in Mindanao by the Islamic State’s (IS) local front Daulah Islamiyah-Maute Group as a result of an operation on Tuesday that resulted in the recovery of homemade bombs, anti-personnel mines and other weaponry.

The operation in Barangay Ilalag, Maguing, Lanao del Sur, against at least 40 terrorists led by Faharudin Hadji Satar alias Abu Zacharia, the reported emir of the IS in Southeast Asia, also resulted in the capture of the group’s camp, which can accommodate at least 100 individuals.

During the operation, three IS members were also killed along with a soldier. However, Brig. Gen. Jose Maria Cuerpo II, commander of the Army’s 103rd Infantry Brigade, said the terrorist group’s casualties could be higher.

“Our troops averted and countered possible desperate attacks employed by the Daulah Islamiyah

to inflict casualties not only to the Armed Forces but even the innocent civilians,” said Armed Forces Western Mindanao Command commander Lt. Gen. Alfredo Rosario Jr. Soldiers captured the camp following air and ground attacks. During the pursuit and clearing operations, they also recovered 22 improvised explosive devices and several anti-personnel mines.

Likewise, at least 45 assorted firearms were recovered, including three cal. 50 machine guns with tripod, a cal. 30 machine gun with tripod, two M60 machine guns, 12 M-16 rifles, an M-653 rifle, an M-4 Carbine, a 20-inch AR-15 rifle, five

M-14 rifles, a 7.62mm M4 rifle, six rocket propelled grenade launchers, two M-203 grenade launchers, six improvised .50 caliber sniper rifles, a Garand rifle, a Browning Automatic Rifle, an AK-47 rifle and a shotgun.

Other war materials seized also included assorted ammunition, magazines, homemade bomb components, propelled grenades, improvised rockets, a laptop, radio, cell phone, an improvised explosive mixer, IS flags and propaganda materials.

Aside from the weapons, the soldiers also recovered 5 kilos of shabu.

According to 103rd Infantry Bri-

gade commander Brig. Gen. Jose Maria Cuerpo II, the operation began in January when the terrorists were monitored to have relocated from the west side to the east side of Lake Lanao.

“They perpetrated a number of bomb attacks in cellular sites here in Lanao in the latter part of 2021 and early this year. We received a report that the remaining members of Daulah Islamiyah-Maute Group in Lanao provinces and Daulah Islamiyah-Hassan Group from Maguindanao are reorganizing in the target area hence the conduct of close air support followed by the combat operations,” Cuerpo said.

Groups hail government’s action vs plastic pollution at UNEA 5.2 Ides of March warning: PRC

By Jonathan L. Mayuga @jonlmayuga

E

NVIRONMENTAL groups hailed the adoption of a landmark mandate calling for the development of a global treaty on plastics as adopted upon the conclusion of the fifth session of the United Nations Environment Assembly (UNEA 5.2).

As governments take action to add ress pl a st ics at e ver y stage—from extraction, pro duction, use, and disposal to remediation—Break Free From Plastics (BFFP) described it as a

major progress towards a legally binding plastics treaty covering the full life cycle.

The mandate, titled “End plastic pollution: Towards an international legally binding instrument,” sets the stage for governments to negotiate a comprehensive and legally binding treaty that will cover measures along the entire life cycle of plastic. The mandate will serve to guide the development of the treaty itself, which an International Negotiating Committee (INC) will be tasked with drafting and ratifying over the next two years.

“This landmark decision sets the stage for an all-inclusive approach to resolve the plastic pollution crisis,” Von Hernandez, Global Coordinator, Break Free From Plastic said.

“Receiv ing the recognition that this problem needs to be addressed across the whole plastics value chain is a victory for groups and communities who have been confronting the plastic industry’s transgressions and false narratives for years. The #breakfreefromplastic movement stands ready to contribute meaningfully to this process and help ensure that the resulting treaty will re-

ally prevent and stop plastic pollution,” he stressed.

BFFP said in addition to laying the groundwork for a legally binding treaty that considers the full life cycle of plastic—from fossil fuel extraction to plastic production and consumption, to post-consumer waste—the mandate also sets a broad scope for the global treaty to cover all plastic pollution in any environment or ecosystem, which goes beyond earlier concepts of “marine plastics” that would have been insufficient to address the true scale of the plastic crisis.

reminds public on fire safety

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HILIPPINE Red Cross (PRC) Chairman and CEO Sen. Richard J. Gordon is calling on the public to prevent suffering losses from fire that may occur during the observance of the National Fire Prevention Month this March by practicing household level safety measures.

Since the start of this year, PRC has responded to 31 fire incidents nationwide. With a total fleet of 19 fire trucks, PRC is ready to help local government units to be always first, always ready, and always there to respond to fire emergencies.

Gordon also reiterated the importance of the organization’s 4Ps principle—Predict, Plan, Prepare, Practice—to uphold the safety of every family.

“Isang paalala po sa publiko ang pag o-observe ng tamang fire safety sa ating mga tahanan. Ang fire safety ay isang shared responsibility sa ating lahat upang maiwasan ang sunog at madamay ang iba. By practicing fire safety, you can not only save your family and loved ones but even those around you,” Chairman Gordon said.

A4 Friday, March 4, 2022 • Editor: Vittorio V. Vitug

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DA moves to raise domestic food production amid global challenges T

NTA to extend P100-M cash aid to Ilocos farmers affected by Jan off-season rains

By Jasper Emmanuel Y. Arcalas @jearcalas

T

HE Department of Agriculture (DA) said it is gearing up to implement various measures to mitigate the impact of global economic challenges and the worsening Russia-Ukraine conflict on domestic food supply and prices.

DA’s statement came a day after President Duterte approved numerous measures recommended by the department to ensure sufficient food supply and stable food prices.

“It is imperative and urgent for the Philippine government to ensure that we have adequate, affordable and accessible supply of basic food items, and agricultural inputs to ensure continued productivity and increased incomes of farmers and fisherfolk,” Agriculture Secretary William D. Dar

said in a news statement.

“The measures approved by the President will further boost higher food production in the country, and provide our farmers, fishers, and rural folk much-needed incomes amid the Covid-19 pandemic,” Dar added.

Dar emphasized that if the government fails to implement mitigating these measures, Filipinos would face high food prices and inflation.

He added such a situation would worsen food insecurity, hunger and malnutrition nationwide.

The measures approved by Duterte include an additional budget to fund the second part of the DA’s flagship “Plant, Plant, Plant” program that seeks to boost local food production, including urban agriculture.

The DA will also realign its budget this year to respond to pressing challenges to the country’s food security.

The DA, however, did not disclose the amount of additional funding it requested and the amount of funds that would be realigned.

“The bulk of the recommended additional budget would be allotted for the provision of fertilizer subsidy to farmers planting rice, corn, highvalue crops, sugarcane, and coconut; and respective budgets for urban and peri-urban agriculture, production of animal feeds using local materials, enhancement of aquaculture and mariculture fishery production, and food mobilization and logistics through the ‘Kadiwa ni Ani at Kita’ marketing program,” Dar said.

Dar added that it is now “working closely” with the Department of Budget and Management on the proposed realignment of its budget “to ensure more effective and targeted utilization of funds.”

Duterte also approved the provision of concessional loans by the Land Bank of the Philippines (LandBank) and Development Bank of the Philippines (DBP) to provincial local government units for palay procurement and rice buffer stocking.

Furthermore, Duterte also greenlighted the return of the oversight of the National Irrigation Administration to the DA to ensure streamlined programs to boost farm productivity.

Dar disclosed that Duterte would issue an executive order to formalize the transfer of oversight of NIA to DA. “Finally, we enjoin the provincial LGUs to tap the LandBank and the DBP, where they can apply concessional loans which they could use to buy palay from farmers, maintain rice buffer stocks, and establish their respective rice processing and storage facilities,” Dar added.

HE National Tobacco Administration (NTA) said it would provide at least P100-million emergency cash assistance to tobacco growersaffectedbyflooding’scausedby three-day “freak” rains in late January.

In a news statement, NTA said Agriculture Secretary William D. Dar approved the agency’s request for P50-million funding to assist rainaffected farmers in the Ilocos region.

The approval was made during the NTA Board meeting last February 24 in Candon City, Ilocos Sur. The approved fund will supplement the P50 million already provided last year by the Office of Senator Christopher Lawrence “Bong” Go for the agency’s emergency cash assistance (ECA) program, NTA said.

NTA added the fund from Go’s office is already included in the NTA’s budget for this year as a stand-by ECA for tobacco growers.

“Thanks to Senator Bong Go’s timely support, the agency now has available cash assistance to our farmers affected by the freak rain

last January,” NTA Administrator Robert Victor G. Seares Jr. “We are also very grateful to Secretary Dar for acting favorably on our requests for funding to supplement the P50-million NTA ECA Fund,” Seares added.

Seares pointed out that with the extent of the damage to tobacco farms last January, the NTA “needs additional funds to assist all the affected farmers.”

The NTA estimated that the twoday “freak rains” in late January damaged P505 million worth of tobacco produce across 5,304 hectares in major tobacco-growing provinces, including Ilocos Sur, Ilocos Norte, La Union, and Abra. The NTA added 15,300 farmers were affected by the floods caused by the off-season rains.

“The assistance will be given to the farmers as soon as the funds and the implementing guidelines are released,” Seares said, assuring farmers of the agency’s “absolute commitment to helping and supporting them in their farming endeavor.”Jasper Emmanuel Y. Arcalas

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Friday, March 4, 2022 A5

BI reports 40% jump in intl passenger arrivals in Feb

By Joel R. San Juan @jrsanjuan1573

T

HE Bureau of Immigration (BI) has recorded a more than 40-percent increase in the number of travelers who arrived in February compared to the previous month following the reopening of

the country’s borders on February 10 amid the steady decrease in the number of Covid-19 cases.

Last month, BI said there were a total of 211,899 Filipinos and foreigners who entered the country as compared to 150,740 last January.

“This is also more than 130

percent higher than the 91,000 passenger arrivals in February of 2021,” BI Commissioner Jaime Morente said.

Out of the 211,899 who arrived last month, 154,661 or 72 percent were Filipinos, according to BI port operations chief lawyer Carlos Capulong.

This was followed by Americans at 21,383 arrivals, Canadians at 4,026, and British at 3,250.

The BI assured that it is ready to address the challenges brought about by the continued increase in foot traffic in the airports.

“The foresight on international travel is getting better. We have

deployed enough officers and improved our e-gate services at our international ports to guarantee efficiency at the BI stations,” said Capulong.

Morente said the increase in the number of arriving travelers is an indication that the travel industry is on its way to recovery.

“After almost two years of battling the effects of travel bans and border closures, it is a breath of fresh air to see families and binational couples reunite once again. I am positive that with our continued adherence to health protocols, we are slowly on the road to recovery,” he said.

UniTeam urges govt to take urgent measures as Russia-Ukraine conflict spurs oil price hikes

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HE government must take mitigating measures right away to cushion the impact of the expected increase in fuel prices in the world market as the conflict between Russia and Ukraine rages.

The BBM-Sara UniTeam made the appeal while noting that Filipinos still reeling from Covid-19 pandemic’s effects could face further sufferings if fuel prices continue to spike, triggering in turn a rise in the prices of basic commodities.

“Masyadong magiging mabigat para sa ating mga kababayan kung lalo pang tataas ang presyo ng langis dahil alam naman natin na magbubunsod rin ito ng pagtaas ng mga bilihin, [It will be such a heavy burden for our people if oil prices rise further because we know this will jack up prices of essential goods], ” the tandem said in a statement.

“Nagtaasan na nga ang mga presyo ng mga bilihin ngayon matapos ang ilang sunodsunod na oil price hikes, lalong magtataasan kung tataas pa

lalo ang presyo ng langis, [As it is, prices of goods have already risen from the series of oil price hikes; they will rise further if oil prices keep increasing],” they continued.

The UniTeam proposes that oil companies stock up on oil and other petroleum products while market prices are still at manageable levels and have not yet reached beyond $103.9 per barrel.

They said the government should also suspend excise tax on fuel imports as a form of subsidy for oil companies.

“But oil companies should not take advantage of succeeding increases in fuel prices in the world market as the conflict between Russia and Ukraine continues. They expressed hope, partly in Filipino, that oil firms would not chase after so much profits that will further burden the public.”

Based on statistics, the country’s consumption in 2020 reached 142,715,000 barrels, while according to the US Energy

Information Administration, the average value for Philippine oil reserves was at 0.14 billion barrels in 2021.

In 2018, the country’s total storage capacity stood at 5,397 million liters.

Oil prices surged to $103.9 a barrel for the first time since 2014 on Thursday after Russian President Vladimir Putin ordered a full-scale military assault on Ukraine, prompting widespread international condemnation.

Many analysts expect prices to rise as high as $150 to $170 per barrel, amid fears of major disruptions to the global energy supply because Russia is the world’s third-biggest oil producer and second-biggest producer of natural gas.

In the Philippines, motorists have been warned to brace for higher costs of petroleum products as another round of price hike was implemented this week, marking the ninth straight week of increases since the beginning of the year.

LEADING presidential contender Ferdinand “Bongbong Marcos Jr. waves the flag with Vice Presidential candidate Mayor Inday Sara Duterte-Carpio during a well-attended grand rally at the Balayan Government Center in Balayan, Batangas, with thousands of supporters attending the event. Joining the UniTeam tandem are local officials of Batangas led by Governor Dodo Mandanas, Balayan Mayor JR Fronda and Congresswoman Aileen Ermita-Buhain and other senatorial candidates running under the UniTeam ticket. ROY DOMINGO

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The World

Friday, March 4, 2022

BusinessMirror

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

Russians start feeling the heat of sanctions imposed by West

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OSCOW—In the days since the West imposed sanctions on Russia over its invasion of Ukraine, ordinary Russians are feeling the painful effects—from payment systems that won’t operate and problems withdrawing cash to not being able to purchase certain items.

“Apple Pay hasn’t been working since yesterday. It was impossible to pay with it anywhere—in a bus, in a cafe,” Moscow resident Tatyana Usmanova told The Associated Press. “Plus, in one supermarket they limited the amount of essential goods one person could buy.”

Apple announced that it would stop selling its iPhone and other popular products in Russia along with limiting services like Apple Pay as part of a larger corporate backlash to protest the invasion.

Dozens of foreign and international companies have pulled their business out of Russia. Major car brands halted exports of their vehicles; Boeing and Airbus suspended supply of aircraft parts and service to Russian airlines; major Hollywood studios halted their film releases; and the list will likely keep growing.

That’s on top of the United States and other Western nations hitting Russia with sanctions of unprecedented breadth and severity. They have thrown major Russian banks off the SWIFT international payment system, limited high tech exports to Russia and severely restricted Moscow’s use of its foreign currency reserves.

Russians in Moscow and other cities talked to The AP about how those moves have played out in their daily lives, pointing to problems with converting rubles into foreign currency, long lines at ATMs and certain bank cards failing them.

Irina Biryukova in Yaroslavl, in a city about 250 kilometers northeast of Moscow, said she could only deposit a limited amount of money into her bank account through the bank ATMs. “The majority of ATMs (of this bank) don’t work to deposit (money),” Biryukova said.

Food prices, according to some businesses, have started soaring, too.

“All the main ingredients we prepare our products from have gone up in price by 30 percent-40 percent,” said Ilya Oktavin, who runs delivery service at a Perm sushi bar.

Certain goods are also harder to come by because of actions by companies like Nike, which on Tuesday night halted online sales with a statement on the company’s website saying it “can’t guarantee delivery of the goods to shoppers in Russia.” On Wednesday, H&M

People stand in line to withdraw US dollars and Euros from an ATM in St. Petersburg, Russia on February 25. In the days since the West imposed sanctions on Russia over its invasion of Ukraine, ordinary Russians are feeling the painful effects—from payment systems that won’t operate and problems withdrawing cash to not being able to purchase certain items.

AP/Dmitri Lovetsky

announced suspending “all sales” in the country.

Kremlin critics are painting a bleak picture for Russia.

“We’re facing growing prices, mass layoffs, delays in payment of benefits or pensions,” opposition politician Yulia Galyamina wrote on Facebook Wednesday. “Shortages of medicines and medical equipment. Aging and impoverished car and aircraft fleet. ... We’ll be remembering the 1990s as hardly the worst time. But I have only one question: for what?”

In what looked like an effort to prevent panic, Russian authorities on Tuesday launched a special website, titled “We’re explaining,” that talks about how various areas of life are functioning under the pressure of sanctions. Worrying reports, like the ones anticipating a spike in prices, or saying that certain services don’t work, are debunked on the website as “fake.”

Some Russians, in the meantime, say that it’s not so much the

sanctions that worry them, but the deadly attack Russia waged on a neighboring country.

“You know, sanctions bother me the least. I’m worried about Russia killing people in Ukraine,” said Moscow resident Ivan Kozlov.

“I wish it stopped the war no sane person with a conscience and capable of mercy and compassion in Russia wants.”

Anti-war sentiment in Russia has been widespread. Thousands of people have signed open letters and online petitions demanding to stop the invasion, with the most widely supported online petition garnering over 1 million signatures in several days.

Russians across the country have been taking to the streets almost every day since the attack started last Thursday. More than 7,000 protesters have been detained in the past week, according to OVD-Info, rights group that tracks political arrests, with nearly 600 arrests taking place on Wednesday. AP

Indian students in Ukraine in fear as Russian invasion intensifies

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EW DELHI—Indian student Abrar Sheikh has been waking up to the loud thuds of bombs that have pummeled Sumy, a city in northeastern Ukraine near the Russian border, for the last three days. When he hears the sounds of shelling, he rushes to a nearby bunker, praying the bombs don’t find him.

On Tuesday, the blare of the bombs became louder. The food inside the bunker got scarcer and the cries of children inside grew.

“At that moment, all I could think of was my family,” Sheikh, 22, said by cellphone from the underground bunker on Wednesday, his voice thick with fear.

“Sometimes the bunker goes all silent after we hear the sound of the bombs and I think, ‘Is this it?’” he said. “At night we pull the curtains in our rooms to keep them dark, hoping Russian troops don’t know we are inside.”

Thousands of Indians studying in Ukraine have suddenly found themselves in the midst of the war after Russia invaded the country last week, with many hunkered inside bunkers and fearful of what lies ahead.

Pressure on the Indian government to pull out its citizens has intensified in recent days, especially after one student died in shelling in Kharkiv on Tuesday.

The government says about 17,000 out of an estimated 20,000 Indian citizens in Ukraine have left the country and that India is trying to evacuate the rest to nearby countries from where they can be flown back home. Many of those who remain stranded are in conflict areas such as Kharkiv and Sumy.

Sheikh, a medical student at Sumy State University, has been trying to leave the city for several days. But shelling by Russian forces has left him and about 500 other Indian students in the city trapped.

They are about 50 kilometers (30 miles) from the Russian border. But they are hundreds of kilometers and at least 10 hours away from Ukraine’s western border, considered to be safer, where Indian officials have so far focused their evacuation efforts.

Evacuation flights have taken off from countries bordering western Ukraine, such as Poland, Slovakia, Hungary and Romania, with more scheduled. A group of Indian Cabinet ministers has flown to these countries to help with rescue efforts.

But for those stuck in the eastern region, there appears no safe way out yet. India has sent a team from its embassy in Moscow to Belgorod, a Russian city close to the border with Ukraine, foreign secretary Harsh Vardhan Shringla said Tuesday.

“This team is in place and ready to see whatever we can do to extract our students and citizens from the Kharkiv and Sumy area,” he said.

India has asked all its citizens to immediately leave Kharkiv after receiving information from Russia, External Affairs Ministry spokesman Arindam Bagchi said.

They have been advised to move to three safe zones about 15 kilometers (9 miles) away using any means, including on foot, he said.

Bagchi did not describe the information provided by Russia.

In Sumy, about 180 kilometers (110 miles) from Kharkiv, an oil

depot was reportedly bombed, railway tracks have been destroyed, and there is fighting in the streets, students said.

“We cannot leave. We have no way of getting to the western part. There is no train or bus or any transport to take us there,” said Chandra Reddy, 22, another medical student at Sumy State University.

Reddy said he was in touch with Indian authorities, who urged him to stay put for now.

He said he risked his life on Tuesday to go to a nearby grocery store, leaving the bunker where he has spent most of his time over the last six days. He quickly bought packets of rice, vegetables and fruit—enough to last a few days—before rushing back.

On the same day, Indian student Naveen S. Gyanagoudar was killed in Kharkiv when he left his bunker to go buy food.

“When I heard that, it hit me that I had just done the same thing, that this can be me next,” Reddy said.

Approximately 18,000 Indian students were in Ukraine, most of them studying medicine. The state-run universities are popular with Indian students for their high-quality education at affordable prices, and as an alternative to India’s overcrowded and competitive public universities.

Following the invasion last week, a number of Western and Asian countries slapped sanctions on Russia, but India sought to appear neutral. It has refrained from criticizing Russia or directly acknowledging Ukraine’s sovereignty, instead pushing for diplo-

macy and dialogue. On Wednesday, it abstained from voting on a U.N. General Assembly resolution demanding an immediate halt to Moscow’s attack on Ukraine - similarly, it abstained from voting on a U.N. Security Council resolution last week. Experts said the decision didn’t signal support for Moscow, but reflected India’s historic partnership with Russia, a Cold War ally it continues to rely on for energy, weapons and support in conflicts with neighbors.

Stranded Indians have appealed for help on social media. In one video, a crying student begged the Indian government for assistance. Another showed dozens of students walking toward crowded borders where they waited for hours before being allowed into neighboring countries.

Such images have sparked sharp criticism of the government’s rescue operation, with some, including opposition political leaders, saying India should have reacted sooner.

India issued an advisory on Feb. 15 telling those who didn’t have essential work in Ukraine to consider leaving temporarily—four days after the United States urged all Americans to leave immediately.

Government officials have rejected the criticism. Many have rushed to New Delhi’s airport in recent days to welcome returning students with flowers.

Nimshim Zimik, who returned to India on Tuesday, said she spent a week in a basement in the Ukrainian city of Vinnytsia, ready with her luggage and essential documents. At night, she and her friends took turns sleeping. AP

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Russia-China trade stifled by yuan’s surge vs ruble

I

t has just got a lot more expensive for Russia to deal with its biggest trade partner China.

The yuan hit a record high against the ruble this week—surging by as much as 25 percent on Tuesday alone—as sanctions were levied against the Russian central bank.

Some Chinese banks have suspended trading of the currency pair, with signs of distress showing up in the widest ever bid-ask spread.

The sudden spike, and how it has put off currency trades, raises questions over the strategic relationship between both countries as Russia’s ties with global markets gets cut off one by one. Total bilateral trade between the two countries was valued at $112 billion in 2020, according to Bloomberg calculations based on data from the International Monetary Fund.

“China trade with Russia could face challenges like higher transaction costs and limited channels, but could still continue,” said Xiaojia Zhi, analyst at Credit Agricole CIB Hong Kong Branch. Russian demand for Chinese goods could deteriorate, but both nations could start promoting trade settlements in yuan, she said.

For now, dwindling volumes in the yuan-ruble currency pair are adding to concerns. The gap between the bid-ask price had been widening even before Russian invaded Ukraine, and reached a record 152 pips Thursday. This implies waning interest from brokers to trade due to the ruble’s wild swings.

At least two mid-sized Chinese

banks have suspended proprietary trading of ruble-yuan and rubledollar to control risks, according to traders who asked not to be identified as they’re not authorized to speak publicly.

The ability to trade ruble against the dollar had also almost vanished for international investors this week.

The Russian currency dropped about 25 percent this week in onshore markets, spurring the central bank to hike rates and impose capital control.

China was seen a potential bulwark for Russia, with Beijing saying it won’t impose any financial sanctions, and that it hopes to keep trade normal.

Reserve buffer However, Russia’s yuan-denominated reserves could help mitigate some of the challenges. About 13 percent of the nation’s reserves, or an estimated $77 billion, were in Chinese assets as of June 2021, according to the most recent figures from the Bank of Russia.

Moscow could use its foreign reserves in China to finance imports from the country, Natixis SA economist Alicia Garcia Herrero said in a report Wednesday. It could also utilize the swap line with the People’s Bank of China to pay for imports when the reserves are drawn down, she said.

The limited size of the reserves though means that they could “be depleted within a year” or even earlier due to the ruble’s depreciation versus the yuan, Herrero said. Bloomberg News

Friday, March 4, 2022

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Neutral Finland, Sweden warm to the idea of Nato membership H

ELSINKI—Through the Cold War and the decades since, nothing could persuade Finns and Swedes that they would be better off joining Nato—until now.

Russia’s invasion of Ukraine has profoundly changed Europe’s security outlook, including for Nordic neutrals Finland and Sweden, where support for joining Nato has surged to record levels.

A poll commissioned by Finnish broadcaster YLE this week showed that, for the first time, more than 50 percentof Finns support joining the Western military alliance. In neighboring Sweden, a similar poll showed those in favor of Nato membership outnumber those against.

“The unthinkable might start to become thinkable,” tweeted former Swedish Prime Minister Carl Bildt, a proponent of Nato membership.

Neither country is going to join the alliance overnight. Support for Nato membership rises and falls, and there’s no clear majority for joining in their parliaments.

But the signs of change since Russia began its invasion last week are unmistakable.

The attack on Ukraine prompted both Finland and Sweden to break with their policy of not providing arms to countries at war by sending assault rifles and anti-tank weapons to Kyiv.

For Sweden, it’s the first time offering military aid since 1939, when it assisted Finland against the Soviet Union.

Apparently sensing a shift among its Nordic neighbors, the Russian Foreign Ministry last week voiced concern about what it described as efforts by the United States and some of its allies to “drag” Finland and Sweden into Nato and warned that Moscow would be forced to take retaliatory measures if they joined the alliance.

The governments of Sweden and Finland retorted that they won’t let Moscow dictate their security policy.

“I want to be extremely clear: It is Sweden that itself and independently decides on our security policy line,” Swedish Prime Minister Magdalena Andersson said.

Finland has a conflict-ridden history with Russia, with which it shares a 1,340-kilometer (830-mile) border.

Finns have taken part in dozens of wars against their eastern neighbor, for centuries as part of the Swedish Kingdom, and as an independent nation during the world wars, including two fought with the Soviet Union from 1939-1940 and 1941-1944.

In the postwar period, however, Finland pursued pragmatic political and economic ties with Moscow, remaining militarily nonaligned and a neutral buffer between East and West.

Sweden has avoided military alliances for more than 200 years, choosing a path of peace after centuries of warfare with its neighbors.

Both countries put an end to traditional neutrality by joining the European Union in 1995 and deepening cooperation with Nato. However, a majority of people in both countries remained firmly against full membership in the alliance—until Russia’s aggression against Ukraine.

The YLE poll showed 53 percentwere in favor of Finland joining Nato, with only 28 percentagainst. The poll had an error margin of 2.5 percentage points and included 1,382 respondents interviewed February 23 to 25. Russia’s invasion began on February 24.

“It’s a very significant shift,” said senior researcher Matti Pesu from the Finnish Institute of International Affairs. “We’ve had a situation in the past 25-30 years where Finns’ opinions on Nato have been very stable. It seems to now to have changed completely.”

While noting that it’s not possible to draw conclusions from a single poll, Pesu said no similar shift in public opinion occurred after Russia’s 2008 war with Georgia and the 2014 annexation of the Crimean Peninsula, “so this is an exception.”

In Sweden, a late February poll

commissioned by the Swedish public broadcaster SVT found 41 percentof Swedes supported Nato membership and 35 percentopposed it, marking the first time that those in favor exceeded those against.

The Nordic duo, important partners for Nato in the Baltic Sea area where Russia has substantially increased its military maneuvers in the past decade, has strongly stressed that it is up to them alone to decide whether to join the military alliance.

In his New Year’s speech, Finnish President Sauli Niinisto pointedly said that “Finland’s room to maneuver and freedom of choice also include the possibility of military alignment and of applying for Nato membership, should we ourselves so decide.”

Nato Secretary-General Jens Stoltenberg noted last week that for Helsinki and Stockholm “this is a question of self-determination and the sovereign right to choose your own path and then potentially in the future, also to apply for Nato.”

There are no set criteria for joining Nato, but aspiring candidates must meet certain political and other considerations. Many observers believe Finland and Sweden would qualify for fast-track entry into Nato without lengthy negotiations and membership could be a reality within months. AP

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Friday, March 4, 2022

UN: Refugee count tops 1 million; Russians seize Ukraine seaports T

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Great Russian exodus tees up tricky deals as firms cut ties

By Jim Heintz, Yuras Karmanau, Vladimir Isachenkov & Dasha Litvinova

K

The Associated Press

YIV, Ukraine—The number of people sent fleeing Ukraine

by Russia’s invasion topped 1 million on Wednesday, the swiftest refugee exodus this century, the United Nations said, as Russian forces kept up their bombardment of the country’s second-biggest city, Kharkiv, and laid siege to two strategic seaports.

The tally from the UNrefugee agency released to The Associated Press amounts to more than 2 percent of Ukraine’s population being forced out of the country in less than a week. The mass evacuation could be seen in Kharkiv, where residents desperate to get away from falling shells and bombs crowded the city’s train station and tried to press onto trains, not always knowing where they were headed.

In a videotaped address, Ukrainian President Volodymyr Zelenskyy called on Ukrainians to keep up the resistance. He vowed that the invaders would have “not one quiet moment” and described Russian soldiers as “confused children who have been used.”

Moscow’s isolation deepened when most of the world lined up against it at the United Nations to demand it w ithdraw from Ukraine. And the prosecutor for the International Criminal Court opened an investigation into possible war crimes.

With fighting going on on multiple fronts across the country, Britain’s Defense Ministry said Mariupol, a large city on the Azov Sea, was encircled by Russian forces, while the status of another vital port, Kherson, a Black Sea shipbuilding city of 280,000, remained unclear.

Russian President Vladimir Putin’s forces claimed to have taken complete control of K herson, which would make it the biggest city to fall yet in the invasion.

A senior US defense official disputed that.

“Our view is that Kherson is very much a contested city,” the official said, speaking on condition of anonymity.

Zelenskyy’s office told the AP that it could not comment on the situation in Kherson while the fighting was still going on.

The mayor of Kherson, Igor

Kolykhaev, said Russian soldiers were in the city and came to the city administration building. He said he asked them not to shoot civilians and to allow crews to gather up the bodies from the streets.

“We don’t have any Ukrainian forces in the city, only civilians and people here who want to LIVE,” he said in a statement later posted on Facebook.

The mayor said Kherson would maintain a strict 8 p.m.-to-6 a.m. curfew and restrict traffic into the city to food and medicine deliveries. The city will also require pedestrians to walk in groups no larger than two, obey commands to stop and not to “provoke the troops.” “ The f lag f lying over us is Ukrainian,” he wrote. “And for it to stay that way, these demands must be observed.”

Mariupol Mayor Vadym Boychenko said the attacks there had been relentless. “ We cannot even ta ke the wounded from the streets, from houses and apartments today, since the shelling does not stop,” he was quoted by the Interfax news agency as saying.

Russia reported its military casualties for the first time since the invasion began last week, saying nearly 500 of its troops have been k i l led and a lmost 1,600 wounded. Ukraine did not disclose its own military losses but said more than 2,000 civilians have died, a claim that could not be independently verified.

In a video address to the nation early Thursday, Zelenskyy praised his country’s resistance.

“We are a people who in a week have destroyed the plans of the enemy,” he said. “They will have no peace here. They will have no food. They will have here not one quiet moment.”

He said the fighting is taking a toll on the morale of Russian

soldiers, who “go into grocery stores and try to find something to eat.”

“These are not warriors of a superpower,” he said. “These are confused children who have been used.”

Meanwhile, the senior US defense official said an immense column of hundreds of tanks and other vehicles appeared to be stalled roughly 25 kilometers (16 miles) from Kyiv and had made no real progress in the last couple of days.

The convoy, which earlier in the week had seemed poised to launch an assault on the capital, has been plagued with fuel and food shortages, the official said.

On the far edges of Kyiv, volunteers well into their 60s manned a checkpoint to try to block the Russian advance.

“In my old age, I had to take up arms,” said Andrey Goncharuk, 68. He said the fighters needed more weapons, but “we’ll kill the enemy and take their weapons.”

Around Ukraine, others crowded into train stations, carrying children wrapped in blankets and dragging wheeled suitcases into new lives as refugees.

In an e-mail, UNrefugee agency spokesperson Joung-ah GhediniWilliams told the AP that the latest data indicates the refugee count surpassed 1 million as of midnight in central Europe, based on figures collected by national authorities.

S h a b i a M a nt o o , a n o t h e r spokesperson for the agency, said that “at this rate” the exodus from Ukraine could make it the source of “the biggest refugee crisis this century.”

A large explosion shook central Kyiv on Wednesday night in what the president’s office said was a missile strike near the capital city’s southern railway station.

There was no immediate word on any deaths or injuries.

Russian forces pounded Kharkiv, Ukraine’s biggest city after Kyiv, with about 1.5 million people, in another round of aerial attacks that shattered buildings and lit up the skyline with f lames. At least 21 people were killed over the past day, said Oleg Sinehubov, head of the Kharkiv regional administration.

Several Russian planes were shot down over Kharkiv, according to Oleksiy Arestovich, a top adviser to Zelenskyy.

“Kharkiv today is the Stalingrad of the 21st century,” Arestovich said, invoking what is considered one of the most heroic episodes in Russian history, the five-month defense of the city from the Nazis during World War II.

From his basement bunker, Kharkiv Mayor Igor Terekhov told the BBC: “The city is united and we shall stand fast.’’

Russian attacks, many with m i s s i l e s , b l e w t he r o o f o f f K hark iv’s f ive-stor y reg iona l police building and set the top f loor on fire, and also hit the intelligence headquarters and a university building, according to officials and videos and photos released by Ukraine’s State Emergenc y Ser v ice. Of f icia ls said residential buildings were also hit, but gave no details.

The head of the UNnuclear watchdog agency warned that the fighting poses a danger to Ukraine’s 15 nuclear reactors.

Rafael Grossi of the International Atomic Energ y Agency noted that the war is “the first time a military conflict is happening amid the facilities of a large, established nuclear power program,” and he said he is “gravely concerned.”

Russia already has seized control of the decommissioned Chernobyl power plant, the scene in 1986 of the world’s worst nuclear disaster.

In New York, the UNGeneral Assembly voted to demand that Russia stop its offensive and immediately withdraw all troops, with world powers and tiny island states alike condemning Moscow.

The vote was 141 to 5, with 35 abstentions.

Assembly resolutions aren’t legally binding but can reflect and influence world opinion.

T he vot e c a me a f t e r t he 193-member assembly convened its first emergency session since 1997. The only countries to vote with Russia were Belarus, Syria, North Korea and Eritrea. Cuba spoke in Moscow’s defense but ultimately abstained.

Ukraine’s UNAmbassador Sergiy Kyslytsya said Russian forces “have come to the Ukrainian soil, not only to kill some of us ... they have come to deprive Ukraine of the very right to exist.” He added: “The crimes are so barbaric that it is difficult to comprehend.”

Russia ramped up its rhetoric.

Foreign Minister Sergei Lavrov reminded the world about the country’s vast nuclear arsenal when he said in an interview with Al-Jazeera that “a third world war could only be nuclear.”

In t he nor t her n cit y of Chernihiv, two cruise missiles hit a hospital, according to the Ukrainian UNI A N news agenc y, whic h quoted t he hea lt h ad m i n ist rat ion c h ief, Serh iy Pivovar, as say ing authorities were working to determine the casualty toll. AP

he energy sector is leading a corporate pullback from Russia after the country’s invasion of Ukraine. Getting out won’t be easy and may be costly.

Finding a buyer could prove extremely difficult, given punishing sanctions, unless gutsy Chinese, Indian or Middle East investors make opportunistic moves. That makes the likeliest outcomes selling back to Russian companies or the winding down of operations.

“It’s getting harder and harder to sell assets to anybody outside of Russia,” said Harr y Clark, head of Orrick Herrington & Sutc l if fe LLP ’s inter nat iona l trade and compliance practice.

“From the seller’s perspective you have something approaching a fire sale.”

Here’s a list of high-profile examples of European and US companies that have announced planned exits from Russia, including potential asset sales—a list which is likely to grow the longer the invasion drags on.

BP

The UK company shocked the world when it announced plans to exit its roughly 20 percent stake in state-controlled Rosneft, risking a financial hit of as much as $25 billion. The move marks a huge reversal for BP, which was one of the first western oil majors to establish a presence in Russia after the collapse of the Soviet Union. The likeliest outcome would be BP selling its stake back to the Russian explorer at a huge discount, Bloomberg News reported.

Shell

Shell quickly followed in BP’s footsteps, saying it would end partnerships with state-controlled Gazprom, including the SakhalinII liquefied natural gas facility, and its involvement in the Nord Stream 2 pipeline project.

Equinor

Norway’s biggest energy company is withdrawing from joint ventures in Russia, including with Rosneft, after more than 30 years in the country. It’s already warned the decision will affect the book value of its assets and lead to impairments, without quantifying the size of the hit.

Eni

The Italian energy company said it’ll sell its 50 percent stake in Blue Stream Pipeline Company BV, a joint venture it set up with Gazprom in 1999. Eni has partnered with Gazprom on projects for over 50 years.

Glencore

The commodity trader, traditionally known for operating in some of the world’s most difficult jurisdictions, announced a review of its stakes in En+ Group International, the controlling shareholder of aluminum giant United Co. Rusal International, as well as Rosneft.

The fair value of the investments at the end of 2021 was $789 million and $485 million, respectively.

Daimler Truck

The truck spinoff of MercedesBenz Group AG will discontinue its business activities in Russia until further notice and may review ties with local joint venture partner Kamaz, in which it owns a 15 percent stake.

Exxon Mobil

Exxon plans to hand over its stake in a Russian oil development to Kremlin-controlled Rosneft and other partners as sanctions make it harder to operate in the country. Chief Executive Officer Darren Woods has said banking sanctions imposed in response to the invasion of Ukraine will “degrade” the oil giant’s ability to operate the Sakhalin-1 development in Russia’s far east.

Wintershall Dea

Management of the German oil and gas producer has decided not to advance or implement any additional production projects in Russia and to write off its financing of Nord Stream 2 totalling around 1 billion euros ($1.1 billion).

Wait or withdraw?

Beyond companies exiting their businesses, several global corporates have announced plans to review or halt operations in Russia.

These include Ford, General Motors, and Harley-Davidson. Others like energy giant TotalEnergies SE, and Renault, the European carmaker most exposed to Russia through AvtoVaz, are sitting tight for now.

More than $14 billion worth of pending transactions have been announced in the last 12 months that involve Russian or Ukrainian targets, sellers and buyers, according to data compiled by Bloomberg. Many of these deals are expected to collapse or, at the least, be postponed.

Austrian energy company OMV has just backed out of a potential Russian acquisition. In January, Italian bank UniCredit withdrew from a possible deal to take over Russian lender Otkritie Bank, with Chief Executive Officer Andrea Orcel signaling that the military buildup in the region was a factor in the decision. Bloomberg News

Communist Party to focus on China’s economic slump B

EIJING — China’s r u ling Communist Party is temporarily turning away from its longer-term ambitions to focus on pulling the economy out of a slump as the country heads into the annual meeting of its ceremonial legislature.

The National People’s Congress, usually used to showcase big initiatives, is overshadowed this year by a “policy pivot” begun in December

by President Xi Jinping’s government to revive anemic consumer spending and housing sales.

Beijing is easing off multi-year campaigns to cut surging debt that Chinese leaders worry is dangerously high, rein in carbon emissions and narrow the gap between a wealthy elite and China’s poor majority. “ They probably need to be put on the back burner for this year, while actively prioritizing

stabilization goals,” said Helen Qiao, the chief China economist for Bank of America.

The NPC session, which opens Saturday, takes place against a backdrop of Russia’s attack on Ukraine, which has pushed up oil prices and added to uncertainty over a global recovery from the coronavirus pandemic.

China’s economic growth slid to 4 percent over a year earlier in the final three months of 2021, down from 18.3 percent in the first quarter, after a crackdown on borrowing in the real estate industry set off a plunge in construction, a major employer.

Manufacturing was hurt by power shortages, weak export demand and anti-disease controls that cut off access to major cities.

Share prices of e-commerce and other Internet companies plunged after Beijing tightened control

over the industry.

In response, ruling party leaders in December promised tax cuts for entrepreneurs who generate jobs and wealth. Banks were ordered to lend more.

“The defining theme for 2022 could be a race between slowdown and stimulus,” Larry Hu and Xinyu Ji of Macquarie Group said in a report. However, they said, “stimulus is so costly that they don’t want to overdo it.”

Forecasters expect Premier Li Keqiang, the No. 2 leader and top economic official, to announce an annual growth target as low as 5 percent. It would be the lowest in decades but better than last year’s anemic 2.3 percent growth.

Companies and investors will watch how large a budget deficit the ruling party will allow.

“A lot of people were asking me

recently if we can see a significant step up in the pace and intensity of policy easing during or after the NPC,” Qiao said.

However, it might be too early to expect more changes while Chinese leaders are waiting to see how the economy performed in Januar y and Februar y. Qiao said they want to avoid resorting to their traditional tool of encouraging spending on real estate, which might push up pol it ic a l ly sensit ive hou si ng costs and debt.

“While many people are saying, maybe there is something big coming out, I am a nonbeliever,” she said.

T he meeting of the NPC ’s 3,000-plus delegates does little lawmaking. The high-profile event is used to announce broad goals for the economy, social welfare and other issues. Companies and

the public wait months to learn details of policy changes.

Over the past two years, however, Li has tried to reassure the public by using the NPC to announce measures that put more money in consumers’ pockets.

This year’s NPC was cut to one week from the traditional two and takes place under strict anti-disease controls. News conferences will be held by video link. Few big gatherings are scheduled.

China was the first major economy to rebound from the pandemic in 2019, allowing Xi’s government to shift its focus back to structural changes aimed at nurturing selfsustaining growth based on consumer spending instead of trade and investment.

Meanwhile, Beijing launched anti-monopoly and information security crackdowns on e-commerce and other Internet com-

panies. It pushed them to divert money from their core businesses into initiatives like rural job creation and developing processor chips and other technology to reduce reliance on US and other foreign suppliers.

The crackdown on debt that Chinese leaders worry is dangerously high has pushed some smaller real estate developers into bankruptcy. One of the biggest, Evergrande Group, is struggling to avoid defaulting on 2 trillion yuan ($310 billion) owed to banks and bondholders. Uneasy apartment buyers have put off purchases, fueling a downward industry spiral.

After the growth slump, “the basic policy tone this year has turned to stability,” said He Fan, a professor at Shanghai Jiaotong University’s Antai College of Economics and Management. AP

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A9

Oil skyrockets to highest since 2008 as Russian invasion upends market O

il soared to the highest level since 2008 as buyers continued to shun Russian crude following its invasion of Ukraine, while Opec+ is doing its best to ignore the war started by one of its key members.

The invasion has sparked supply concerns across commodity markets from energy to grains, prompting consumers including China to scour the globe for raw materials.

Buyers are continuing to avoid Russian crude as they try and navigate financial sanctions on Russia, and traders are betting prices will keep rising. Despite the turmoil, Opec+ is sitting on the sidelines.

The group stuck with the 400,000 barrel-a-day production increase that was scheduled for April and wrapped up a Wednesday meeting in record time of just 13 minutes, delegates said.

Mexican Energy Minister Rocio Nahle tried to raise the subject of Russia, but other members of the coalition led by Saudi Arabia swiftly moved on to other matters without any discussion, they said.

The International Energ y Agency has warned that global energy security was under threat and a planned emergency release of crude reserves by the US and others has done little to quell market fears. Surgutneftegas PJSC failed to sell any of the Russian crude it was offering for a third time.

The US and its allies have so far refrained from sanctioning Russia’s crude exports due to concerns about the impact of rising energy prices on consumers, but trade is seizing up as banks pull financing and shipping costs spike. Even before the invasion, American retail gasoline was at its highest since 2014.

“There are real fears of a supply squeeze,” said Kim Kwangrae, a Seoul-based senior commodities analyst at Samsung Futures Inc. “If the situation in Ukraine deteriorates, then we’re looking at another rally.”

West Texas Intermediate for April delivery rose 4.9 percent to $116 a barrel on the New York Mercantile Exchange at 7:44 a.m. in London after surging as high as $116.24.

Brent for May settlement

gained 5.5 percent to $119.18 a barrel on the ICE Futures Europe exchange.

Nymex gasoline futures rose as muc h as 6.2 percent to $3.5122 a gallon, the highest level since 2008.

Brent remains in deep backwardation, a bullish structure where prompt barrels are more expensive than later-dated cargoes, indicating nervousness over tightening supply. The benchmark’s prompt spread was $5.30 a barrel, compared with $1.39 at the start of last month.

The Biden administration said Wednesday it is seeking to degrade Russia’s status as a leading producer of oil and natural gas by restricting exports of technology related to the energy sector. The world’s oil majors including BP Plc, Shell Plc and Exxon Mobil Corp. have also pledged to exit Russia.

Separately, the Energy Information Administration reported that US crude stockpiles fell by 2.6 million barrels last week. Inventories at the storage hub in Cushing dropped for an eighth week, while gasoline supplies also shrunk. Bloomberg News

Powell eyes quarter-point Fed rate hike this month

W

ASHINGTON—Chair Jerome Powell said Wednesday that he supports a traditional quarterpoint increase in the Federal Reserve’s benchmark short-term interest rate when the Fed meets later this month, rather than a larger increase that some of its policymakers have proposed.

But Powell did open the door to a bigger hike in the event that inflation, which has reached a four-decade high, doesn’t noticeably decline this year, as the Fed expects it to.

“I’m inclined to propose and support” a quarter-point rate hike to fight the acceleration of inflation that has engulfed the economy in recent months, Powell told the House Financial Services Committee on the first of two days of semiannual testimony to Congress.

Most other Fed officials have in recent weeks supported a similar modest rise, while a few have said they back a halfpoint hike or are at least open to such an increase. Higher Fed rates typically lead, in turn, to higher borrowing costs for consumers and businesses, including for homes and auto loans and credit cards.

“We have an expectation that inflation will peak and begin to come down this year,” Powell said. But he added: “To the extent inflation comes in higher ... then we would be prepared to move more aggressively” by raising rates by more than a quarter point later this year.

The stock market rose in response to Powell’s support of the smaller increase.

The S&P 500 jumped 1.7 percent in midday trading.

The Fed chair cautioned that the economic consequences of Russia’s invasion of Ukraine, and the resulting sanctions by the US and Europe, are “highly uncertain” and said “it’s too soon to say” how they might affect the Fed’s policies.

Before Russia’s invasion, the Fed planned to carry out “a series” of rate increases this year, Powell said, potentially at each of the remaining seven Fed meetings. For now, the Fed will “proceed carefully along the lines of that plan.”

Economists have forecast that the Fed will implement five to seven quarter-point hikes this year.

Powell spoke a day after President Joe Biden said in his State of the Union address that “my top priority is getting

Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing before the Senate Banking, Housing and Urban Affairs Committee on January 11, on Capitol Hill in Washington. The Federal Reserve will lift its benchmark short-term interest rate at its next meeting in two weeks, Powell says in prepared testimony to a congressional committee on March 2. Brendan Smialowski/Pool via AP prices under control.”

This month’s increase would be the first since 2018. And it would mark the beginning of a delicate challenge for the Fed: It wants to increase rates enough to reduce inflation, now at a four-decade high, but not so fast as to choke off growth and hiring. Powell is betting that with the unemployment rate low, at 4 percent, and consumer spending solid, the economy can withstand modestly higher borrowing costs.

The Fed’s rate is now pegged near zero, where it has been since the pandemic struck in March 2020 and the Fed responded by slashing interest rates to help support the economy.

Powell acknowledged that consumer price increases have jumped far above the Fed’s target of 2 percent—inflation hit 7.5 percent in January compared with a year earlier—and that higher prices had persisted longer than expected. He also pledged to use the Fed’s tools to bring inflation back down to its target.

“We understand that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing, and transportation,” the Fed chair said.

Under questioning by Rep. Roger Williams, a Texas Republican, Powell said he believes the Fed can reduce inflation without tipping the economy into recession. One reason he thinks so, Powell said, is that the economy is strong now, with solid growth and the unemployment rate at a low 4 percent.

The Fed chair added that the central bank expects inflation to gradually decline this year as tangled supply chains unravel and consumers pull back a bit on spending. Many economists agree with him but nevertheless think inflation will stay elevated. Rising prices are spreading beyond items that were disrupted by the pandemic— autos, electronics, furniture and other household goods—into broader categories of spending, especially rental costs.

Goldman Sachs has raised its forecast for inflation and now predicts that prices, according to the Fed’s preferred measure, will still be rising at a relatively high annual rate of 3.7 percent by year’s end.

That is far above the Fed’s own most recent projection, issued in December, of 2.7 percent.

Powell said the Fed will also begin reducing its huge $9 trillion balance sheet, which more than doubled during the pandemic when the Fed bought trillions of dollars of bonds to try to hold down longer-term rates. He said the central bank’s policymakers will likely agree on a plan for how to shrink its bond holdings when it meets in two weeks but declined to say when the plan might be implemented.

Oxford Economics, a consulting firm, projects that the Fed will reduce its holdings by about $400 billion this year, which it estimates would have the effect of rates hikes adding up to roughly one-half of a percentage point. AP

A10 Friday, March 4, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Face-to-face classes are better for learners

Z

oom meetings became so popular during the pandemic, thanks to the lockdowns and social distancing mandates. After a while, though, the video calls became exhausting. That’s because doing a Zoom meeting requires more mental processing than face-to-face interactions, according to experts. Then we started hearing about this new “disease,” called Zoom fatigue, which is defined as mental exhaustion that occurs after a day of videoconferencing.

Psychologists say several factors lead to Zoom fatigue. The technological hiccups—video glitches, sound issues, and WiFi interference—that frequently happen during virtual meetings can disrupt our ability to interpret messages and add to our unease. Stanford University researchers recently published the first peer-reviewed article on the topic, which said that Zoom fatigue is real.

Their findings: In-person communications make our brains happier.

If adult professionals complain about Zoom fatigue after a day of videoconferencing, imagine the travails of young learners on Zoom for two years now. No wonder millions of learners and parents suddenly became awake, active, alive and enthusiastic after hearing the news that Malacañang has placed Metro Manila and 38 other areas under Alert Level 1 starting March 1.

Most parents know that Education Secretary Leonor Briones has recommended to Malacañang the progressive expansion of limited face-to-face classes in areas placed under Alert Levels 1 and 2. They also know that President Duterte has given the green light for Briones to authorize all DepEd regional directors to commence the progressive expansion phase of face-to-face classes for both public and private schools.

Secretary Briones said that learners who want to participate in face-toface classes are not required to be vaccinated against Covid-19. “It is voluntary because the parents will be the ones to decide on that. But, of course, we will encourage them,” she said during a televised public briefing. She said the DepEd has a similar policy with the Department of Health regarding the needed consent from the parents on pediatric vaccination.

Face-to-face learning is much better compared to online learning because, as the Stanford researchers found out, “in-person communications make our brains happier.” In a classroom setting, teachers can manage their topics very well because there is no longer a need to compress their topics to fit the modules. Having to go to class with a real teacher is livelier for learners compared to reading a pile of modules. Students can grow more and feel more comfortable interacting with and learning from each other in a classroom setting.

The benefits of placing almost the entire country under Alert Level 1 will not be maximized if schools remain closed, according to the National Economic and Development Authority. Socioeconomic Planning Secretary Karl Kendrick T. Chua said this is because a fourth of parents would not be able to report to work if their children continue studying from home. For every week that schools remain closed, the economy loses P12 billion, Chua said.

“Parents, schools and the government must work together to open schools for the sake of their children’s future. No other country closed schools for almost two years,” Chua told BusinessMirror (Read, “Neda bares P12-billion weekly loss if schools remain closed under AL 1,” in the BusinessMirror, March 1, 2022).

Acting Presidential Spokesperson and Cabinet Secretary Karlo Nograles said on Monday that government is finalizing the guidelines on the resumption of face-to-face classes in the country, particularly in areas under Alert Level 1 status. He said the Department of Education, Commission on Higher Education, and Technical Education and Skills Development Authority are contributing inputs in the ongoing discussion regarding the new guidelines to be included for the reopening of in-person classes.

Once deemed safe, reopening our schools must be made a top priority for the mental well-being of millions of learners. The pilot implementation of face-to-face classes involved 15,000 children, and Secretary Briones cited zero cases of Covid among them, prompting her to say that young children have high level of immunity against diseases. But it’s wiser to be cautious, and the DepEd would do well to ensure that teaching and non-teaching personnel who will participate in the face-to-face classes already got their Covid jabs. Unvaccinated personnel who need to report to schools must be tested for Covid-19.

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ver the past month, we have seen a drop in the number of new Covid-19 cases, a decline in the hospitalization of people with severe or critical ailments brought about by the virus, and arguably the early signs of the revitalization of our economy.

These developments are more than welcome, especially since the country draws closer to the second anniversary that lockdowns were enforced in light of the pandemic. However, it appears parallel problems have emerged to possibly result in even more hardship for our people.

Among them is the skyrocketing price of oil. Brent crude has jumped to $103/barrel, while the benchmark Dubai crude is currently at $92/ barrel. These have resulted in corresponding increases in domestic pump prices—with gasoline up by P8.75/liter, diesel by P10.85/liter and kerosene by P9.55/liter since the start of the year.

Ironically, much of these price increases were due to the reopening of the world’s economies after a twoyear slump. This revival of activity came with a corresponding increase in the demand for oil but unfortu-

nately, supply levels were still low and this exerted upward pressures on prices. Meanwhile, the low supply could be attributed to two years of dampened demand as countries closed their borders, restricted the mobility of their citizens and imposed limitations on the operations of businesses. At one point the price of oil plunged to negative $40/barrel. Of course, the Organization of the Petroleum Exporting Countries (Opec) has already started scaling up its production but it would take some time before we can see a stabilization of supply.

These sharp increases in fuel prices will no doubt have an impact on all of us. Public utility vehicle (PUV) operators and drivers, as well as private motorists have been cringing from the almost weekly increase in pump prices. It has been reported that the price of gasoline in some petrol sta-

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Relief from oil price hikes

‘W

ould you patent the sun?”

These are words attributed to Jonas Salk, an American virologist best known for developing the vaccine for polio, which earned him a place in the history books for that noteworthy achievement. He is likewise famous for posing this same thought-provoking question in a philosophical position that had him effectively giving up millions—perhaps even billions—of dollars by waiving his rights to profit from the formula of his polio vaccine.

Will there be a Jonas Salk for Covid-19 vaccines, too?

By definition, patents are legal barriers that prevent entry into an industry by granting exclusive use of a patented product or process to its inventor. Patents provide an incentive for invention and innovation.

New products and new processes are developed through research undertaken by individual inventors and by firms. Research requires resources and time, which have opportunity costs. Without the protection that a patent provides, the results of re-

search would become available to the general public quickly. If research did not lead to expanded profits, less research would be done. On the negative side, however, patents do serve as a barrier to competition, and they slow down the benefits of research flowing through the market to consumers.

The expiration of patents after a given number of years represents an attempt to balance the benefits of firms and the benefits of households.

tions has already hit the P80 per liter mark. For the PUV operators and drivers, this means reduced earnings since they have to pay more for fuel.

The same goes for the agriculture and fisheries sector that need fuel to fire up their equipment and boats. Once their goods are transported to the markets, consumers will also have to pay more because of the mark up in the unit prices due to the higher cost of fuel.

We anticipated these price increases and their domino impacts on the economy—most especially on specific sectors like agriculture and transport—when we were going over the 2022 General Appropriations Act (GAA) last year. This is why we introduced two provisions in the GAA that will hopefully provide the hard-hit sectors with some relief now that the price of fuel is starting to cut into their earnings.

The first is the allocation of P2.5 billion for the provision of financial assistance or fuel vouchers to qualified PUV, taxi, tricycle, and full-time ride hailing and delivery services drivers nationwide. We also introduced a P500 million allocation for the provision of fuel discounts to farmers and fisherfolk. For both subsidies, the trigger for the release of funds will be when the average price of Dubai Crude based on the Mean of Platts Singapore averages at least $80 per barrel for three months. On top of the P3 billion for the two sec-

tors, the GAA, under unprogrammed appropriations, also has P5 billion for the provision of fuel subsidies.

We are also studying more longterm solutions that we can utilize whenever such drastic movements in world oil prices occur. These include the possible suspension of taxes on oil products, a move that some argue will provide immediate relief to consumers. One option will be to limit the suspension to diesel, since this is the product predominantly used by the transport sector, and to LPG and kerosene as the products consumed by households. As in every piece of legislation that will have an impact on national revenues, we are involving in the discussions the Department of Finance and the National Economic and Development Authority, alongside the various stakeholders and sectors that will be affected by these proposed measures.

There is no question that we have to do something in response to the oil price hikes. Every household and almost all businesses are feeling their effects. Doing nothing about this issue could very well add to the suffering our people have already endured throughout the pandemic.

Sen. Sonny Angara has been in public service for 17 years. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate.

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On the one hand, it is important to stimulate invention and innovation; on the other hand, invention and innovation do society less good when their benefits to the public are constrained. It is typically argued that profits are justified by high research and development costs.

While the political or social implications of vaccines without patents bring out controversial problems for a host of other reasons, there are some compelling economic arguments to support vaccines being freed from their intellectual property protections. The defense of the physical private property of individuals is undoubtedly a very important concern, but intellectual property, including patents, come with certain issues when scrutinized under economic or moral frameworks of these perspectives.

One argument against vaccine patents is that they lead to the risk of being monopolized. Sadly, countries all over the world are feeling the effects of such monopolies in place, and people in developing countries like the Philippines, who might voluntarily want a vaccine for Covid-19, for instance, find themselves in a situation without many options. Regard-

less of differences in opinions about the pros and cons of being vaccinated, not having a choice in the matter is unwished for.

Patents are an example of intellectual property protections that are, in theory, supposed to benefit society by preserving the rights of those who come up with novel ideas or innovations. Other such protections include copyrights, trademarks, design laws, or even trade secrets. Yet, we can also see how society at large can suffer when a significant finding or creation is held back by these forms of intellectual property, such as in the very relevant case of Covid-19 vaccines.

That said, taking a position to waive vaccine patents also requires a bit of nuance. In our world today, whom do patents protect? A vaccine without a patent would, despite different arguments hurled against such a thing, allow this important discovery to leave the hands of big pharmaceutical companies and governments. This, in turn, might enhance further innovation for better vaccines, which could be incentivized and created within the rest of the private sector, or would allow it to be produced and proliferated by smaller See “Eagle Watch,” A11

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The women’s votes

Spreading the ashes on the virus

BusinessMirror

Manny F. Dooc

Tito Genova Valiente

TELLTALES

annotations

lection is a numbers or statistics game. The critical demographic factors that figure in politics include age, gender, education, religion, social and political affiliation, cultural background and economic status. Every candidate and his political operatives consider these factors and attributes in mapping their campaign strategies. Of these, gender plays a major consideration and every political strategist worth his salt regards the women’s votes as a decisive component in getting his candidate elected into office.

sh Wednesday is happening as I annotate. On TV screen, the news says, the ritual of inscribing ashes on the foreheads of the faithful would take place once more. For the last two years, the Church looking to the body and not the soul, decided that it was wise for priests not to touch the foreheads of the believers. They, the bearers of truths about us coming from dust and to dust returning, had resolved the issue of tactility and possible infection through containers with the proxy artefact of our immortality. Dipped into them, our own hands swam with a newly found authority in the ashes/dusts as we became the minister of our own complex religion.

E

Until 1937, Filipino women did not have the right to vote. At the start of American rule, our womenfolk strongly demanded that they be given equal political rights as the men. They worked feverishly to gain the rights of suffrage. On April 30, 1937, a plebiscite was held during the Commonwealth Period to determine whether women would be allowed to vote or not. Women’s suffrage won when 90 percent of the voters gave women the right to vote. Since they have been empowered to vote, female voters have trooped to the polls in droves. In 1939, barely two years after women were allowed to vote and be voted upon into public office, the Philippines elected its first woman senator in the person of Geronima T. Pecson. As fittingly observed by the noted election lawyer, Atty. Romulo Macalintal, “from then on and up to the present, Filipino women were allowed to vote and be voted that paved the way for active women participation in the government as we saw the emergence of great and powerful elected Filipino women leaders in our country.” And we’re one of the first countries in the world to have a democratically elected female president or head of state, courtesy of President Cory C. Aquino. Three presidential elections later, another woman, Gloria M. Arroyo, was elected as the president of our republic.

Based on Comelec’s Election Records and Statistics Division, out of the 65.7 million eligible voters for the 2022 elections, 33.6 million are women while only 32.07 million are men. This tells us that registered female voters outnumber males by 1.5 million. Indisputably, women’s support is critical in any election. This fact alone shows the vital role of women in our elections, which no serious office seeker can ignore.

Over the years, women have demonstrated that they are responsible voters. They have higher literacy rates than men. Records provided by the Philippine Statistics Authority on statistics on men and women in the country indicate that there are more female college graduates than men. Average annual income and average annual expenditures by sex of household head showed that households headed by females have higher incomes and expenditures than their male counterpart.

Based on these socio-economic indicators, females are expected to vote wisely and go for leaders who are competent and qualified. It would seem that they are less susceptible to corruption and would not be easily lured by the false promises of dishonest candidates. This phenomenon is not isolated in the Philippines. In fact, in the US, more women have voted than men since 1964. American women voted at higher percentages. Studies show that the majority of voters in recent presidential elections are women and that they vote to protect their interests. This only indicates that our female population cares about politics and the affairs of government. It would be foolhardy if a person running for a public office overlooks the women’s votes.

What are the characteristics of women voters? Do women have a distinctive voting behavior or pattern? A study in the US revealed that men and women differ in their inclination as their political knowledge increases. Scott Keeter of the Pew Research Center and Michael Delli Carpini of the University of Pennsylvania found that as they get more im-

Over the years, women have demonstrated that they are responsible voters. They have higher literacy rates than men. Records provided by the Philippine Statistics Authority on statistics on men and women in the country indicate that there are more female college graduates than men. mersed in politics, “both single and married men become slightly more conservative, while married women move slightly in the liberal direction, and single women become quite a bit more liberal.” Knowledge seems to liberate women when it comes to their politics.

Another interesting study showed that women will not necessarily vote for a woman candidate. Having a woman candidate, however, increases “gender consciousness” and this encourages women to get involved in the political arena. This was the thesis of political scientists led by Nancy Burns of the University of Michigan in their book, The Private Roots of Public Action.

In our case, VP Leni’s candidacy will increase the turnout of female voters although it may not necessarily be to her advantage. It is critical that our women voters should see VP Leni as a robust and viable candidate so that they will flock to her. VP Leni should demonstrate her competence and qualification for the office; sisterhood alone is not enough to propel her to the presidency.

We had entrusted the presidency to women, not once, but twice in the past. American women have not broken this glass ceiling despite very serious efforts by former First Lady and New York Senator Hillary Clinton. So far the highest elective position they got is the vice presidency, which was won by Senator Kamala Harris in the 2020 election.

We may have a third female president if VP Leni can solidify the women’s votes behind her. If she can drive up women’s active participation in the coming election and spur them to support her, then Malacañang will be her official residence for the next six years. But that’s easier said than done. VP Leni should know what appeals most to women voters so that she can focus her campaign on them.

So, what is the female agenda? Let’s borrow a page from political scientists and authors. Drew Westen, who wrote The Political Brain, said that voters act on their feelings toward their party and its candidates more than their understanding of the issues. Ann Lewis, campaign director of Hillary Clinton, claimed that women voters “are simply more practical” to which Marion Just, professor of Wellesley and Kennedy School of Government, agreed. According to Lewis, what is important to women are “family, education, things that affect the household budget, health care,” and, she added, “war and peace.” In fact, I can see my own wife and daughters glued to the TV set watching the coverage of the war in Ukraine. Page Garner, who holds an elective office, confirmed that all her women constituents care about are “about economic opportunity—health, education for their children, wages and energy costs.” All our presidentiables may pay heed to them if they desire to harness the power of the women’s votes.

A

The wind, it seems, has blown away the unseen sources of the disease, which isolated us from each other and we are once more submitting the corporeal in us to the default spiritual in the church ministers. If we are to believe the updates, the priests in Roman Catholic Churches and in other denominations are recalling their power to be the ultimate appendage officially allowed to brand us with the ashes of life. These are the same artefacts that inhere in us the thought that we cannot go on living but, in a compromise which is a strategy for conversion, rudimentarily handing us the lesson how life, as with death, is transitory in our chosen religion. This is the baggage as well as the product line of our doctrine: hoping for in a life that will not go on and hoping against hope in a death that is not the end of everything.

Shall the ashes usher us to the end of the pandemic, or are we seeking

succor in metaphors? Think kindly of metaphors and other figures of speech, for they have launched books and wars, gave birth to careers and conscience, or entertained us during those years when the act of moving into the sun was initiating the loss of the sunshine.

Allow me then these claims: Outside of the launch of the candidacies of individuals who promise us heaven on earth, or, at least, a respite from killings outside the judgement of courts (States do kill their own people), or a break from hunger amidst plenty, there is no sign at all that the pandemic is gone.

Friday, March 4, 2022 A11

But as there has been no reported surge after thousands of people jostled each other for a look at their own presidents, then election, the instrument of democracy, is the cure for the virus that respects no popular choice.

Looking back, the lockdown of the entire island of Luzon in March 2020 and the disclosure of towns and cities possessing boundaries are now part of our histories. And history is the best teacher. The only problem with history and the learning curve it brings us into contact with is that the events of the past, the historical accounts of our behavior to the events that transpired are pedagogies of the I-told-you-so. We learn from hindsight, and the courses taught by that past make sense if we so much glance backward.

The plot of Lot, however, twisting her head to become a pillar of salt is a misplaced cautionary lesson about sitting at the feet of historians.

The lessons of the pandemic is that we do not learn from the past because we do not live in the past. We go on living with the future that remains unseen, very much like the virus that came to us in the first three months of 2020. There was no way the world was prepared for the pandemic as there was no way for the world to fight the vital signs of the future.

History works with footnotes

and endnotes. See how in the last months of the year 1918, the First World War was sensing its end.

But as the war was ending, somewhere what began as common cold brought upon the killer influenza.

The succeeding years saw the rise of a pandemic in the form of what was wrongly attributed as Spanish flu.

With war raging in other places, flu was observed more in Spain which remained neutral. This led to the perception that the virus originated from the said country.

What is happening at present seems to be the opposite. As the pandemic appears to be winding down, there is a war in the offing.

Ukraine and Russia may be far but in the highly globalized world, no country is isolated enough not to be affected by any event impinging on other territories. Then comes the discovery of airspaces being closed by countries. This war teaches us a new lesson – the clouds and the span of sky up there are not owned by God but by countries with their own ideologies about war and peace; the grounds below—the bogs, the muds, the trodden soil—territorializes our misgivings, fears and tight embrace of redemptions in our own humanity.

Was there wisdom then in allowing us, carriers of our own mortality, to be given the tender, trembling right to mark our foreheads with the sign that makes us, contrary to the Humanist tradition, not the power center of this discordant universe?

Or was that an acclamation that the body was prized more than the spirit on this viral Earth? Whatever it was and whatever will be, the dust is here to stay.

E-mail: titovaliente@yahoo.com

From ‘great resignation’ to ‘great renegotiation’ and ‘great furlough’

their families.

Another group is composed of workers who fear getting infected through face-to-face interaction with patients or customers. These include the health workers, mostly nurses and hospital orderlies, and workers in the service industry requiring in-person interactions such as the service crew of restaurants and fast-food chains.

Mental stress is the reason given by the third group. There are numerous stories on how Covid and the series of lockdowns affected the psychological outlook of young workers. They suffered periodic bouts of pandemic fatigue, depression and anxiety. There are even reports of a spike in suicide attempts by distraught and disoriented workers.

The fourth group is made up of those who are simply unhappy with their jobs because of low pay, harsh working conditions, dreary nature of the tasks assigned to them and personal and work problems that they have at the work sites.

The “resignation” of the above

workers is facilitated by the strong safety net in place in developed countries. Full health insurance, unemployment benefits and other welfare programs enable some workers to go jobless for a few months or longer.

Now what is the situation in the Philippines?

This writer interviewed some HR managers who are following the global HR discourse on the so-called great resignation phenomenon in the OECD countries. Their opinion: the high quit rate trend would have happened in the Philippines had the economy been robust and the labor market tight. The quit reasons in the global North—work flexibility under work-from-home arrangement, infection avoidance, mental stress and unhappiness at the work place—also obtain in the global South. In fact, resignations based on the foregoing reasons have been happening. But not at a rate similar to what is happening in the developed countries.

The reality is that many workers cannot afford to lose jobs in a jobscarce country like the Philippines.

What is happening is not great resignation but “great renegotiation,” another buzz term coined by Western HR managers to describe those unhappy with their jobs and yet unprepared to resign for economic and other reasons.

Great renegotiation is common in buoyant industries employing skilled and mobile workers. This is particularly true in the case of the call center-BPO sector, which remained robust in 2020-2021. Many IT/ICT workers have been undertaking individual and group negotiations with their employers on possible improvements on compensation, work conditions and so on. Despite the absence of unionism in the call

center-BPO sector, the workers are able to undertake such negotiations, formally or informally, individually or collectively, with the facilitating help of HR and employee relations managers in the sector. Some of the issues taken up: special allowance for Internet and power usage at home, retention of the work-from-home arrangement, etc.

The problem is that majority of the wage workers are not as empowered as the IT/ICT workers in the call center-BPO sector. In the 2020-2021 series of lockdowns, what happened in a large number of manufacturing companies and service establishments was a “great furlough.” Workers were not outrightly dismissed despite company losses or temporary closures or downsized operations.

They were simply classified as workers on temporary leave without pay.

This great furlough phenomenon is likely to become a continuing one.

Certain segments of the formal sector of the economy such as those in the hotel and restaurant industry, tourism industry, light manufacturing and so on are still unable to recover to their pre-Covid level. With inflation rearing its ugly head and with the world economy rattled by the Russia-Ukraine war, the Philippine economic recovery is likely to stall and bring in more uncertainties in the labor market.

Under this emerging economic scenario, the focus of the workers, organized and unorganized, will likely be a negotiation for the retention of jobs and a call for a halt to furlough unlimited.

the world, where it is thus possible to effectively control the supply of vaccines through patents. Consider how the availability of generic versions of medicines is a great boon in these times, allowing Pinoys to purchase potentially life-saving drugs without having to spend even more for them. If the affordability of these medical wonders increases through a removal of

patents—and via the subsequent widespread production of them by doing so—is that not a boon for civilized society?

No matter the veracity of, and other effects that came after, Jonas Salk’s famous quote, it is undeniable that the reduction of polio cases worldwide following it was a blessing to humanity in the 1950s. We do not expect that everyone should be as

personally generous as Jonas Salk, but on a practical level, it does reveal that certain economic benefits for society can be derived by waiving the protections of intellectual property.

Calls to free the vaccine formulas are not without their merits.

Dr. Rene E. Ofreneo

LABOREM EXERCENS

L

ast year, American and European human resource managers noticed an unusual trend in the labor market—high “quit rates” in the labor market, meaning more workers leaving their jobs compared to the situation in earlier years. Accordingly, the rates exceeded the 2.5 percent maximum recorded in previous years. In Germany and in some American states, the rates went up to as high as 6 percent.

HR managers and labor market analysts promptly dubbed the high quit rate phenomenon as the “great resignation.” They uniformly attribute this phenomenon to Covid and the business/organizational changes the pandemic caused in the corporate world. Most of the job quitters are either millennials or members of Generation Z. There are four groups of job quitters: The first group consists of those able to switch to remote work. Working from home has enabled them to avoid dressing up for office work and staying 8-to-5 in enclosed high-rise buildings. There is a sense of “liberation” in being able to do remote work at home or anywhere convenient to an online worker, such as a Starbucks coffee shop. The prospect of being asked to go back to the old working set-up is dreadful to those who have gotten used to flexible online work arrangement. Covid lockdowns have also created opportunities for these workers to re-think their careers and to re-imagine what is the ideal work-life balance for themselves and

Eagle Watch. . . continued from A10

health-and-medicine-related businesses to help increase availability and eventually lower the costs in the market.

Having the vaccine formulas protected under such legal regimes is not necessarily helping the case of

Dr. Rene E. Ofreneo is a Professor Emeritus of the University of the Philippines.

For comments, please write to reneofreneo@ gmail.com.

Mr. Harald Eustachius A. Tomintz teaches at the Department of Economics of the Ateneo de Manila University.

A12 Friday, March 4, 2022

Flag exclusive internet deals of developers–PCC to public

T

By Tyrone Jasper C. Piad @Tyronepiad

HE Philippine Competition Commission (PCC) urged aggrieved residents to come forward and report if their property developers are offering exclusive Internet deals, preventing them from subscribing to other service providers.

“As remote work, distance learning, and e-commerce have become part of the new normal, PCC understands the value of consumer choice for fast, stable, and affordable internet connection.”

ARSENIO M. BALISACAN

BM

PCC Chairman

In a news statement on Thursday, the competition watchdog reminded the public that exclusive dealings with Internet service providers (ISPs) by property developers are considered an anticompetitive practice.

“As remote work, distance learning, and e-commerce have become part of the new normal, PCC understands the value of consumer choice for fast, stable, and affordable internet connection,” PCC Chairman Arsenio M. Balisacan said.

“The lack of competition in this space forced by exclusivity dealings by property developers is an issue that we are determined to solve. We encourage the public to continue reporting to us similar cases and for developers to open their doors

to different ISPs,” he added.

Last month, the PCC said it was finalizing a draft memorandum circular preventing property developers from limiting access to a single or in-house ISPs to their residents.

PCC Commissioner Johannes R. Bernabe said they hoped to jointly issue the circular with other regulatory agencies engaged in property development and information and communication technologies.

“So, this memorandum circular will provide for the kind of competitive selection process like mechanism that would ensure that there are no exclusivity arrangements and if there are in extraordinary circumstances, that this would not be down to the disadvantage

of consumers,” he said in an earlier virtual event.

PCC said it has issued enforcement advisory letters (EALs) to developers of condominiums and subdivisions who were the subject of complaints by the residents and tenants regarding the exclusive Internet deals. EALs, the competition authority said, serve as a “tool to advise companies to correct competition concerns immediately.”

So far, eight developers have voluntarily complied with the advisory: DMCI Homes, Urban Deca Homes, Vista Residences Inc., Victoria Towers by New San Jose Builders Inc., Amaia Land Corp., CHMI Land Inc., Avida Land Corp. and

Kirkwood Development Corp.

The PCC established a task force in March 2021 dedicated to handling concerns about exclusive Internet deals.

It has received over 104 complaints with most of them having led to further investigation, cases or issuance of EALs. T he competition watchdog said more complainants have been coming forward following the anti-competitive case lodged against Urban Deca Condominiums in 2019 for imposing an ISP exclusivity deal. Its property developer was ordered to pay a fine of P27.11 million.

“The lessons of previous abuse of dominance cases filed by PCC should already inform property developers of putting exclusive ISP deals to a stop.

Through the Enforcement Advisory Letters, voluntary compliance will add to the firms’ badge of good corporate governance while giving residents the benefit of consumer choice,” Balisacan said.

PHL ONE OF 3 COUNTRIES WITH MORE FEMALE SOLE PROPRIETORS THAN MEN

T

HE Philippines is one of only three countries where female sole proprietors exceeded males, based on data from the World Bank.

The data was shared by World Bank Private Sector Development Specialist Frederic Meunier; Private Sector Development and Female Entrepreneurship Analyst Sabrina Fantoni; and Analyst Sarah Kouhlani-Nolla in a World Bank Blog titled, “We-Data: Measuring the gap in female entrepreneurship around the world.”

Austria, the Philippines, and Jamaica were the only countries which saw a higher share of sole women entrepreneurs from a list of 62 countries, per the data.

“The gap in female entrepreneurship remained widespread and stable over the past years.

From 2014 to 2020, the average share of female entrepreneurs was way below the share of male entrepreneurs,” the authors said.

Based on the data, women in the Philippines accounted for 52.2 percent of sole proprietors in 2015 and 53.1 percent in 2016.

This meant the gender gap in terms of sole proprietorship is in favor of women.

However, the average share of female sole prioprietors in many countries only saw a slight increase or 2 percentage points between 2014 and 2020.

This was largely due to the increase of female sole proprietors in several low-income countries such as Benin, Guinea and Rwanda, where the share of female sole proprietors increased.

In Rwanda, there was a 15-percentage point increase to 49 percent; Guinea, 10-percentage point increase to 32 percent; and Benin,

7-percentage point increase to 34 percent during the period.

“The gender gap in entrepreneurship reflects recurring underlying disparities and tends to signal strong inequalities in access to institutions,” the authors said.

“When the rule of law is weak, it hinders development and can prevent women from safely entering the entrepreneurial world. When the rule of law is stronger, the share of female entrepreneurs also tends to be higher,” they added.

Other factors also affect the gender gap in entrepreneurship. Apart from the rule of law, education, access to technology, and social norms can sometime hinder women from becoming entrepreneurs.

The authors said economies where women have more years of education also have more female entrepreneurs at the level of both business owners and sole proprietors.

In terms of technology, the digital divide between men and women can be stark. Based on the data, the authors said women are 26 percent less likely than men to have access to smartphones and this can be a barrier for ease to do business.

Further, an economic bias exists in that overall, 40 percent of men and women feel that men can make better business executives and that men have more rights in getting employed.

“This is part of the invisible barriers that women face in achieving equality. Measuring those barriers and quantifying the various sides of the equality gap help design better policies and provide a level playing field for all,” they said. Cai U. Ordinario

Govt to spend ₧180M for 2 surveys on PHL biz and industry, health

By Cai U. Ordinario @caiordinario

T

HE national government w i l l be spend ing some P179.9 million to conduct two surveys on the state of Philippine business and industry as well as in health, according to the Philippine Statistics Authority (PSA).

The amount will cover the P98.2 million that will be needed to conduct the 2021 Annual Survey of Philippine Business and Industry (ASPBI) and the P81.7 million for conducting the National Demographic and Health Survey (NDHS).

The ASPBI aims to determine and compare regional economic structures and performances, and analyze the performance and contribution of the Micro, Small, and Medium Enterprises (MSMEs) to the total economy.

“The PSA granted clearance to the conduct of the 2021 ASPBI.

The survey will collect and generate information on the levels, structure, performance, and trends of economic activities of the formal sector of the economy for the year 2021,” the PSA said.

PSA said the ASPBI questionnaires will be distributed to about 38,500 establishments between April 11 and May 13 this year and will be collected between April 18 and June 17. Results of the survey are expected to be released in February 2023.

The major data items that will be collected in the survey include employment; revenue; expense; e-commerce Sales; capital expenditure; book value; and capacity utilization.

Meanwhile, the NDHS 2022 will be the 12th series of national demographic survey which has been conducted every five years since 1968.

The last survey was conducted in 2017.

The survey will interview about 35,000 households and women ages

15 to 49 years old from the sampled households on 02 May to 21 June 2022 and results are expected to be released in March 2023.

“Information from the survey is essential for informed policy decisions, planning, and monitoring and evaluation of programs on health in general and reproductive health in particular, for both the national and regional levels,” PSA said.

The major data items to be collected include marriage and exposure to the risk of pregnancy; fertility and fertility preferences; teenage pregnancy; family planning practices; childhood/infant mortality; and maternal and child health.

The list of data also includes breastfeeding, complimentar y feeding and micro-nutrient supplementation; health-care utilization and financing; knowledge and attitudes regarding HIV/AIDS; women empowerment; and violence against women.

Number of HK OFWs with Covid breaches 200

By Samuel P. Medenilla @sam_medenilla

T

HE number of overseas Filipino workers (OFW) infected with Covid-19 in Hong Kong has now breached the 200 mark, according to a labor official.

Labor attaché Melchor B. Dizon said the number continues to rise as Hong Kong is still trying to contain its load of Covid-19 cases.

He noted the number of Covid-19 cases in Hong Kong had reached 55,000 on Wednesday from just 6,000 last month.

Of the affected OFWs, he said 43 have already recovered, while 95 are under isolation in the home of their employers.

At least 22 are staying in government quarantine facilities, 22 in a similar facility run by nongovernment organization (NGO), 23 in boarding houses, six in hotel facilities, and eight in a hospital.

Currently, Dizon said none of the infected OFWs was retrenched after being infected by Covid-19.

He noted three of the OFWs were initially dismissed, but were later retained by their employers with

the intervention of the Philippine Consulate.

The concerned employers were warned they would have to pay a fine of 100,000 Hong Kong dollars (P650,000) if they illegally terminate a worker for being infected with Covid-19.

Dizon urged other OFWs who are illegally dismissed for being afflicted with Covid-19 to report their case to the Philippine Consulate or the Philippine Overseas Labor Office in Hong Kong, so they could call the attention of the concerned employer.

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

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

ONO, SATORU Software/application Technical Support Analyst 1.

Brief Job Description: Communicate with the Japanese clients and providing necessary feedback to Filipino counterparts

Basic Qualification: Requires analysis and solving of lower complexity problems.

Authority to influence and complete assignments independently and ability to make decisions as measured by latitude to devise work products of plans, reliance on instruction and decision making Salary Range: Php 90,000 - Php 149,999

LAU NGOC TRANH Chinese Customer Service 16.

MADDI, PRASANTHI App/cloud Support Specialist

2.

Brief Job Description: Provide dynamic services identifying and solving issues within multiple components of critical business systems. Use problem solving skills to keep our world class systems delivering value to our clients by maintaining custom and/or software application code. Work in challenging and dynamic environments. Increase efficiency by optimizing work across one or more clients.

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

17.

3.

Brief Job Description: Managing incoming calls and customer service inquiries CHI NHIT LAY Chinese Customer Service

4.

Brief Job Description: Managing incoming calls and customer service inquiries DAO DUC CANH Chinese Customer Service

5.

Brief Job Description: Managing incoming calls and customer service inquiries EDIYANTO Chinese Customer Service

6.

Brief Job Description: Managing incoming calls and customer service inquiries ELITA Chinese Customer Service

7.

Brief Job Description: Managing incoming calls and customer service inquiries ERIC HURYANTO Chinese Customer Service

8.

Brief Job Description: Managing incoming calls and customer service inquiries GIANG DIEU MAN Chinese Customer Service

9.

Brief Job Description: Managing incoming calls and customer service inquiries HOANG CHI HOA Chinese Customer Service

10.

Brief Job Description: Managing incoming calls and customer service inquiries HOANG THI HOA Chinese Customer Service

11.

Brief Job Description: Managing incoming calls and customer service inquiries HONG CONG LONG Chinese Customer Service

12.

Brief Job Description: Managing incoming calls and customer service inquiries HUYNH DANG KIM Chinese Customer Service

13.

Brief Job Description: Managing incoming calls and customer service inquiries HUYNH DOAN QUOC VUONG Chinese Customer Service

14.

Brief Job Description: Managing incoming calls and customer service inquiries JULITA Chinese Customer Service

15.

Brief Job Description: Managing incoming calls and customer service inquiries

Basic Qualification: Able to speak, Read, and Write Chinese language

18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

28.

29.

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

Brief Job Description: Managing incoming calls and customer service inquires REBY Chinese Customer Service

30.

Brief Job Description: Managing incoming calls and customer service inquires RUDIANTO Chinese Customer Service

31.

Brief Job Description: Managing incoming calls and customer service inquires THONG CONG HUNG Chinese Customer Service

32.

Brief Job Description: Managing incoming calls and customer service inquires TRAN VAN LONG Chinese Customer Service

33.

Brief Job Description: Managing Incoming calls and customer service inquiries VONG NGOC LINH Chinese Customer Service

34.

Brief Job Description: Managing Incoming calls and customer service inquiries VU ANH TUAN Chinese Customer Service

35.

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

Brief Job Description: Managing incoming calls and customer service inquires PHU CA SINH Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquires PHAM VAN DAT Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquires PHAM THI NGA Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN VAN TIEP Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN TIEN HUNG Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquires NGUYEN THI CAM TU Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN HONG VINH Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries NGUYEN DUC TAM Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries LY VI CUONG Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries LUU PHACH HAO Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries LIEU THANH HUYEN Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries LE HOAI ANH Chinese Customer Service

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

Brief Job Description: Managing incoming calls and customer service inquiries LAY CHI HA Chinese Customer Service

AIG SHARED SERVICES - BUSINESS PROCESSING, INC. Aig Operations Center, North Bridgeway Avenue, Northgate Cyberzone, Alabang, City Of Muntinlupa Basic Qualification: Bachelor’s degree in computer science / information technology / or computer related field. Technology skills – middleware software development, mulesoft anypoint studio, ibm integration bus, IBM data power, mq, soap, json, sql, sdlc, agile. 3 to 5 years of experience. Team player and collaborator, able to work under pressure and deliver quality software.

Able to coordinate and communicate with users, attend project and team meetings. Ability to assess impact, analyze, estimate, develop, test and deploy software requirements with focus on good quality and secured development.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing Incoming calls and customer service inquiries VU DUC AN Chinese Customer Service

36.

Brief Job Description: Managing Incoming calls and customer service inquiries

Friday, March 4, 2022

A13

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

No.

VU THI CAM VAN Chinese Customer Service 37.

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

38.

39.

40.

Brief Job Description: Managing Incoming calls and customer service inquiries YAP SOON YI Chinese Customer Service

41.

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

Brief Job Description: Managing Incoming calls and customer service inquiries WILLIAM NIELSEN Chinese Customer Service

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

Brief Job Description: Managing Incoming calls and customer service inquiries WENLA ALFIAN Chinese Customer Service

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

Brief Job Description: Managing Incoming calls and customer service inquiries WENDY Chinese Customer Service

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

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Managing incoming calls and customer service inquires

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

WOO (SPOUSE OF OH), SUNJUNG Lecturer 42.

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

43.

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 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: PhD in Korean Language education, Korean History, and or any related field, 5 or more years of work experience in an academic institution related to Korean Language, history and culture, no criminal records, strong recommendation from 2 colleagues or supervisors

Brief Job Description: Responsible for leading sales teams to reach sales targets.

Basic Qualification: Must have an experience on selling machines, can’t speak English and Chinese Salary Range: Php 60,000 - Php 89,999

BOUTIQUE OUTSOURCE SOLUTIONS PTY LTD-PHILIPPINE BRANCH Units C & D, 21/f Wynsum Corporate Plaza, Don F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

FORD, JASON RODNEY Head Of Lending Operations - Philippines 44.

Brief Job Description: Manages the day-to-day operations of the company’s branch in the Philippines and ensures that the standard quality and efficiency is being observed

Basic Qualification: Implements team structures, policies & procedures. Creating greater awareness around conversion rates & striving towards faster customer turnaround.

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

COGNIZANT TECHNOLOGY SOLUTIONS PHILIPPINES, INC. 2nd, 3rd, And 4th Floors, Science Hub Tower 4 Bldg., Mckinley Hill Cyberpark, Fort Bonifacio, City Of Taguig RIVERA DAVILA, CRISTHIAN A Systems Engineer 45.

Brief Job Description: Provide first level resolutions for EUC and Business Applications; Ticket creation/Categorization / Prioritization; Ticket update and Closure

Basic Qualification: Any Science / Technical Diploma or Bachelor Degree; 3+ years’ experience in 24x7 operations Salary Range: Php 60,000 - Php 89,999

COLBELLA DEVELOPMENT CORPORATION 910, Pasay Road, San Lorenzo, City Of Makati

REATEGUI OLGUIN, CECILIA CRISTINA Market Research Analyst 46.

Brief Job Description: Assist project managers with a variety of the firm’s assignments. Professionally interact with clients in person, phone conversations and email

Basic Qualification: Bachelors degree in real state business economics or related proven market research analysis experience SPSS SAS or similar familiarity with CRM programs Salary Range: Php 60,000 - Php 89,999

DAXIFA CORPORATION Mpire Center 93 West Avenue, Project 7, 1, Bungad, Quezon City PENG, JINGWEN Mandarin Speaking Customer Service Representative 47.

Brief Job Description: Delivering excellent customer service and managing the needs of customer through phone calls and emails

Basic Qualification: Ability to communicate fluently in Mandarin Chinese with customers Salary Range: Php 30,000 - Php 59,999

FLASH EXPRESS SOFTWARE (PH) CO., LTD. INC. 11/f Cybersigma, Lawton Ave., Mckinley West, Fort Bonifacio, City Of Taguig WANG, WUJING Hub Support Manager 48.

Brief Job Description: to provide accurate and reliable business management information to support performance measures within the directorate.

Basic Qualification: job-relevant degree/ 5-10 yrs. supervisory/ managerial experience in logistics or operations/ multilingual Salary Range: Php 30,000 - Php 59,999

FLY ASIAN INTERNATIONAL CORPORATION Eighty One Bldg. Newport Blvd., Newport City Vab St., Barangay 183, Pasay City

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

Brief Job Description: Part Time faculty with expertise in the field of Korean Language, History and Culture

HAO, SHUAI President/sales Manager

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

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

BGMTECH INDUSTRY CORP. #6085, Tatalon St., Ugong, City Of Valenzuela

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

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

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

ATENEO DE MANILA UNIVERSITY, INC. Ateneo De Manila University, Katipunan Ave., Loyola Heights, Quezon City

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

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

QUALIFICATION AND SALARY RANGE

SEE ZHAO CHUAN Marketing Consultant (Mandarin Speaking Clients) 49.

Brief Job Description: Studying company profile and operations to understand its marketing needs. Implementing a marketing strategy according to objectives and budget. Preferably 6 months experience with the above position.

Basic Qualification: Can multi-task and keen to details. Any nationality who can speak and write Chinese fluently.

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

BusinessMirror

A14 Friday, March 4, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

FLYING DRAGON NETWORK PHILIPPINES INC. Ri Rance Ii Bldg., Block 2 Lot 3 Aseana City, Tambo, City Of Parañaque

50.

51.

52.

WANG, CHENHAO Customer Service Representative Brief Job Description: Customer service representative

WANG, CHIEN-FANG Customer Service Representative Brief Job Description: Customer service representative

ZHANG, XINGHONG Customer Service Representative Brief Job Description: Customer service representative

Basic Qualification: College graduate/level and fluent in mandarin/basic English

53.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

LIN, RUEI-SHIANG Mandarin Operations Specialist

54.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

LYNETTE LAU CHUEN SYN Mandarin Team Leader

55.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

HSUEH, WEI-HAN Mandarin Technical Support

56.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

YANG, CHUN-HAN a.k.a. MARY YANG Mandarin Technical Support

57.

Brief Job Description: Responsible in answering customer questions about products and services of the company.

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

58.

Brief Job Description: Conduct marketing research to identify industry trends and commercial opportunities.

59.

Brief Job Description: Build sustainable relationship of trust through open and interactive communication in Mandarin speaking

60.

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

CHU, HAIBO Mandarin Construction Operations Specialist 61.

Brief Job Description: The Mandarin Construction Operations Specialist will be strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goal.

HAN, QINGWEN Mandarin Construction Operations Specialist 62.

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

LONG, JIANJUN Mandarin Contract Administrator 63.

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

YU, CHUN Mandarin Field Service Coordinator 64.

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

LI, MING Mandarin Finance Supervisor 65.

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

69.

Basic Qualification: Proficiency in English, Mandarin and other multilingual language.

70.

71.

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

Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin Construction operations specialist, excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

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

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

72.

Basic Qualification: Proven experience as a Mandarin Finance Resources Supervisor, excellent communication, interpersonal and presentation skills.

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

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

SUN, XIAOYU Mandarin Project Supervisor

73.

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

SHEN, YUN Mandarin Senior Project Supervisor 74.

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

HUANG, SHAOPENG Mandarin Senior Project Supervisor 75.

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

HUANG, SHUPENG Mandarin Senior Project Supervisor 76.

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

ZUO, YONGHUA Mandarin Senior Project Supervisor 77.

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

CHEN, ZHIJIN Mandarin Site Officer 78.

Basic Qualification: Proven experience as mandarin field service coordinator, excellent communication, interpersonal and presentation skills.

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

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

LU, CHANGYE Mandarin Operation Specialist

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

Basic Qualification: Knows how to recommend potential products or services to management by collecting customer information and analyzing customer needs

Brief Job Description: The Mandarin Mechanical and Electrical Maintenance Supervisor will be strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goal.

FAN, ZHANSONG Mandarin Operation Specialist

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

Basic Qualification: Excellent oral and written communications in Korean language.

Brief Job Description: The Mandarin Mechanical and Electrical Maintenance Supervisor will be strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goal.

QU, HONGWEI Mandarin Mechanical And Electrical Maintenance Supervisor

Basic Qualification: Proficiency in English, Mandarin and other multilingual language.

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

Brief Job Description: The Mandarin Construction Operations Specialist will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision , mission and long term goals DONG, XIAOLONG Mandarin Mechanical And Electrical Maintenance Supervisor

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

GUANGXI HYDRO ELECTRIC CONSTRUCTION BUREAU (GHCB PHILIPPINES CORPORATION) #58, Road 1, Project 6, Quezon City BIAN, QIANG Mandarin Construction Operations Specialist

68.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficiency in English, Mandarin and other multilingual language.

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

HAN, YOULIANG Mandarin Head Operation Project Supervisor

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

GLOBALLGA BUSINESS PROCESS OUTSOURCING Ground Level, Level 2-5 Floor, Silver City 4, Ortigas East, Ugong, City Of Pasig

LI KAN HTIN Customer Service Representative Mandarin Speaking

67.

Basic Qualification: Proficiency in English, Mandarin and other multilingual language.

Basic Qualification: Proficiency in English, Mandarin and other multilingual language.

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

HAN, JIAWEI Mandarin Head Operation Project Supervisor

Basic Qualification: College graduate/level and fluent in mandarin/basic English

G&G COMMUNITY SOLUTION INC. 3/f Suite 301 #47 Aguirre Avenue Cor., Tirona Street, B. F. Homes, City Of Parañaque SHIN, SANGMOK Korean Marketing Consultant

66.

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

FRONTIER POINT MANAGEMENT SOLUTIONS INC. 29/f Techzone Bldg., Sen. Gil Puyat Ave., San Antonio, City Of Makati SY XUONG VI Mandarin Customer Service

MO, SHUIXIAN Mandarin Financial Officer

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate/level and fluent in mandarin/basic English

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

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

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Proven experience as mandarin financial officer, excellent communication, interpersonal and presentation skills.

No.

XIN, XUEFU Mandarin Site Officer 81.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

82.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin Mechanical and Electrical Maintenance Supervisor, excellent communication, interpersonal and presentation skills.

83.

CAO, JINGHUI Mandarin Project Supervisor 84.

79.

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

HUI, JINGPENG Mandarin Site Officer 80.

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

Brief Job Description: Responsible For Coordinating All Labor Needs for a Given Project

PI, JUN Mandarin Project Supervisor 85.

Brief Job Description: Responsible For Coordinating All Labor Needs for a Given Project

WANG, HONGLIANG Mandarin Project Supervisor 86.

Brief Job Description: Responsible For Coordinating All Labor Needs for a Given Project

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin Project Supervisor, excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

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

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

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

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

YANG, XUEJIAO Mandarin Project Supervisor 87.

Brief Job Description: Responsible For Coordinating All Labor Needs for a Given Project

NGUYEN LE HONG HAN Mandarin Digital Marketing Officer 88.

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

DINH THI HAI CHI Mandarin Human Resources Supervisor 89.

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

DUAN, XULEI Mandarin Human Resources Supervisor 90.

Brief Job Description: The Mandarin Human Resources Supervisor will be strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goal.

NGUYEN THI NGOC HA Mandarin Human Resources Supervisor 91.

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

SHEN, WEI Mandarin Sales Manager 92.

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

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

Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

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

Basic Qualification: Bachelor’s Degree with at least 3-5 years of working experience in the related field , Fluent in Mandarin Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree with at least 3-5 years of working experience in the related field , Fluent in Mandarin Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree with at least 3-5 years of working experience in the related field , Fluent in Mandarin Basic English Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Bachelor’s Degree with at least 3-5 years of working experience in the related field , Fluent in Mandarin Basic English Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proven experience as mandarin digital marketing officer, excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin human resources supervisor, excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin Human Resources Supervisor, excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin human resources supervisor, excellent communication, interpersonal and presentation skills.

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

Basic Qualification: Proven experience as Mandarin Sales Officer, excellent communication, interpersonal and presentation skills.

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

IIRMA INTERNATIONAL CONSULTANCY INC. 12 Rhapsody St., 09982083880, Talon Dos, City Of Las Piñas

RANA SHAH, AYUSHMA English Language Translator

Basic Qualification: MBA

Brief Job Description: To translate difficult countries languages to English.

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

JARDINE SCHINDLER ELEVATOR CORPORATION 20th Floor, Insular Life Fcc Tower 1, Alabang, City Of Muntinlupa

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

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

I SUITES HOTEL MANAGEMENT CORP. 730 Goldmine Tower, P. Ocampo St., 078, Barangay 719, Malate, City Of Manila

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

Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

HECTECHURE CORP. Units A&b 20/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati

93.

HAN, DAJIANG Mandarin Site Officer

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

QUALIFICATION AND SALARY RANGE

HAMMERTIME CONSTRUCTION INC. Unit 203-s3 2nd Flr., Fbr Arcade Bldg., Loyola Heights, Quezon City

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

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

SHI, CHENGMIN Mandarin Structural Maintenance Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as a Mandarin Mechanical and Electrical Maintenance Supervisor, excellent communication, interpersonal and presentation skills.

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

HE, XIAOLONG Mandarin Structural Maintenance Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven Experience as Mandarin Construction Operations Specialist, Excellent Communication Interpersonal and Presentation Skills.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

LEUNG, HOI YEE Assistant Manager, Large Project 94.

Brief Job Description: Assist in the Large Project Sales Operations in Accordance with the Business Strategies and Policies of Scholarships

Basic Qualification: Graduate of an Engineering and Business Related Degree with Strong Communication Skills (Chinese Speaking an Advantage) Salary Range: Php 150,000 - Php 499,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHOW, MAN FAT Project Manager

95.

Brief Job Description: Manage special projects in the new installation operations in accordance with the business strategies and policies of schindler

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Graduate of an Engineering and Business Related Degree with Strong Communication Skills (Chinese Speaking an Advantage)

96.

Brief Job Description: Carefully aware of what clients want, follows marketing trends, and observe competing companies to learn new insights.

113.

Salary Range: Php 30,000 - Php 59,999 114.

KKJ AUTO LAND CORPORATION 264, Aguirre Avenue, B. F. Homes, City Of Parañaque KIM, DOHYEONG Korean Marketing Agent

No.

Basic Qualification: Strong oral and written communication skills, and can speak Korean language.

LI, KAI Customer Service Representative Brief Job Description: Customer service

YU, XIAOMEI Customer Service Representative Brief Job Description: Customer service

115.

YU, DAN Chinese Customer Service Brief Job Description: Customer support and data base services

ZHANG, LE Digital Marketing Specialist

97.

Brief Job Description: Execute campaigns and promotion, collect preliminary data and result in order to gain new market penetration, maintain market share and assist in campaign effectiveness analysis. Project management onsite changes, improvements and new features on the platform for marketing strategies. Works with marketing team to identify a target market, create a brand image and create and maintain a marketing campaign for the internet and for digital technologies both Chinese and Vietnamese client and the company. Responsible developing strategy in online, utilizing such techniques in the field of social media, web analytics, e-mail marketing and search engine optimization

Basic Qualification: Preferably 6 months -1-year as Marketing Specialist; Fluent in Mandarin or Vietnam and English Language Salary Range: Php 30,000 - Php 59,999

116.

98.

117.

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

MOA CLOUDZONE CORP. 4th-11th Flr. Nexgen Tower, C4 Rd. Edsa Ext., Barangay 76, Pasay City DAI, HONGXIA Chinese Customer Service 99.

Brief Job Description: Managing incoming calls and customer service inquiries JEMMY LIM Chinese Customer Service

100.

Brief Job Description: Managing incoming calls and customer service inquiries JONI Chinese Customer Service

101.

Brief Job Description: Managing incoming calls and customer service inquiries KEVIN LEE Chinese Customer Service

102.

Brief Job Description: Managing incoming calls and customer service inquiries KUICANG Chinese Customer Service

103.

Brief Job Description: Managing incoming calls and customer service inquiries LEONG KAR WEI Chinese Customer Service

104.

Brief Job Description: Managing incoming calls and customer service inquiries LI, JIPING Chinese Customer Service

105.

Brief Job Description: Managing incoming calls and customer service inquiries LYU, LIANGLIANG Chinese Customer Service

106.

Brief Job Description: Managing incoming calls and customer service inquiries MA, SHAOKANG Chinese Customer Service

107.

Brief Job Description: Managing incoming calls and customer service inquiries TAN, FUDE Chinese Customer Service

108.

Brief Job Description: Managing incoming calls and customer service inquiries TAN, WEIZHENG Chinese Customer Service

109.

Brief Job Description: Managing incoming calls and customer service inquiries WENDY LEONARDO Chinese Customer Service

110.

Brief Job Description: Managing incoming calls and customer service inquiries WILLIAM PHETER Chinese Customer Service

111.

112.

Brief Job Description: Managing incoming calls and customer service inquiries LI, CONG Customer Service Representative Brief Job Description: Customer service

Brief Job Description: Customer support and data base services

YAMADA, MAKOTO Operational Excellence Manager

Basic Qualification: Preferably 6 months -1-year as Marketing Specialist; Fluent in Mandarin or Vietnam and English Language

118.

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

119.

Brief Job Description: Provide leadership and direction to a project team in the planning, scheduling, work organization, monitoring of an assigned project based on agreed budgets WEE ENG WUU Project Manager

120.

Brief Job Description: Provide leadership and direction to a project team in the planning, scheduling, work organization, monitoring of an assigned project based on agreed budgets

OU, JINYAN Business Development Analyst

121.

Basic Qualification: Able to speak, Read, and Write chinese language

Brief Job Description: Develop, implement and communicate metrics reporting processes and documentation across plants and companies in collaboration with operations, marketing and sales functions, fluency in English and Mandarin language is a must. Leading and executing various special projects with senior leadership primarily related to the evaluation of possible growth strategies or driving operational improvement. Must be flexible, analytical and good communicators.

TAN, ZHENJIE Business Development Analyst

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

122.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak, Read, and Write chinese language

Brief Job Description: Develop, implement and communicate metrics reporting processes and documentation across plants and companies in collaboration with operations, marketing and sales functions, fluency in English and Mandarin language is a must. Leading and executing various special projects with senior leadership primarily related to the evaluation of possible growth strategies or driving operational improvement. Must be flexible, analytical and good communicators.

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

ZHOU, KE Financial Services Consultant 123.

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

124.

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

Brief Job Description: Creating and implementation of a trade marketing strategy. Managing brand awareness across various categories and products. Develop, implement and communicate metrics reporting processes and documentation across plants and companies in collaboration with operations, marketing and sales functions, fluency in English and Mandarin language is a must TCHOUAMO, ANDRE EMMANUEL Trade Marketing Specialist

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

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

Brief Job Description: A commendable sales performance specializing in financial services and in corporate banking or wealth management / financial planning services to high net worth clients, fluency in English and mandarin is a must

KIM, JOONHAN Trade Marketing Specialist

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

Basic Qualification: College graduate/level and fluent in mandarin/basic English

126.

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

Basic Qualification: Understanding of store operations (Japanese and Filipino culture. The FTE should also be aware of CI and project management applications)

127.

128.

Salary Range: Php 500,000 and above

Basic Qualification: must be flexible, analytical and good communicators.

In the next few sections, we look at the academic requirements, professional certifications and soft skill requirements for BA roles. Fluency in English and Madarin language is a must.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Excellent communication, interpersonal and listening skills. The capability to explain complex information simply and clearly, the ability to network and establish relationships with clients, negotiation and influencing skills as well as determination and tenacity. fluency in English and Mandarin language is a must

125.

Brief Job Description: Creating and implementation of a trade marketing strategy. Managing brand awareness across various categories and products. Develop, implement and communicate metrics reporting processes and documentation across plants and companies in collaboration with operations, marketing and sales functions, fluency in English and Tswana language is a must

Basic Qualification: Strong knowledge of consumer industry. Strong range management.

Ability to think critically and creatively. Fluency in English and Mandarin is a must.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Strong knowledge of consumer industry. Strong range management.

Ability to think critically and creatively. Fluency in English and Tswana is a must.

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

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

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

Basic Qualification: Attended Management course; with relevant experience in managing site operations.

Brief Job Description: Management of site operations in accordance with individual contract’s; Ensure compliance to local laws and legislation with regard to site operations such as safety and other requirements; Ensure compliance to company rules and regulations with regard to site operations such as safety and other requirements; develop the team with skills and understanding.

CHUEH, YU-CHEN Customer Relation Representative (Mandarin Translation) 129.

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

SHEN, SHIN-YI a.k.a. PATRICIA SHEN Customer Relation Representative (Mandarin Translation)

130.

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

TAI, YI-FANG Customer Relation Representative (Mandarin Translation)

131.

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

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

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

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

WIKITECH SERVICES INC. Unit 25d 2/f Zeta Ii Bldg., 191 Salcedo St., San Lorenzo, City Of Makati LIU, YI Mandarin Marketing Specialist 132.

Brief Job Description: Undertake a market analysis to include details on the market characteristics and competitor characteristics.

FANG, JIN Mandarin Technical Support

133.

Brief Job Description: Monitoring and maintaining computer systems and networks

Basic Qualification: Proficient language skills and skills to match job Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient language skills and skills to match job Salary Range: Php 30,000 - Php 59,999

YULON FINANCE PHILIPPINES CORPORATION 17/f The Curve, 32nd St. Corner 3rd Avenue Bonifacio Global City, Fort Bonifacio, City Of Taguig

134.

SHIH, YU-CHIEN a.k.a. RACHELLE SHIH Business Planning Specialist And Translator Brief Job Description: Assist BP department head in all business activities

Basic Qualification: College graduate with more than 5 years of relevant experience.

Fluent in Mandarin and English Salary Range: Php 30,000 - Php 59,999

ZHENGBANG CROP PROTECTION (PHILIPPINE) INC. Unit 2509 Prestige Tower, F. Ortigas Jr. Road, Ortigas Center, San Antonio, City Of Pasig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: must be flexible, analytical and good communicators.

In the next few sections, we look at the academic requirements, professional certifications and soft skill requirements for BA roles. Fluency in English and Madarin language is a must.

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

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

Salary Range: Php 500,000 and above Basic Qualification: Must have 12 years of relevant experience in development of high end to luxury projects and 8 years as project manager

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

BRADLEY, THOMAS Site Manager Philippines

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

Basic Qualification: Must have 12 years of relevant experience in development of high end to luxury projects and 8 years as project manager

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

VESTAS SERVICES PHILIPPINES, INC. 12/f Five E-com Center, Harbor Drive, Barangay 76, Pasay City

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

Basic Qualification: University graduate with at least 10 years of relevant work experience. Fluency with and/or native speaker of Korean language is a must

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

ZHOU, YUSHI Mandarin Customer Support Representative

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

QUALIFICATION AND SALARY RANGE

CHEN, YUSHENG Mandarin Customer Support Representative

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

TRIVES TECHNOLOGY CORPORATION Tower 4 Bayport West, Naia Garden Residence, Naia Road, Tambo, City Of Parañaque

Basic Qualification: College graduate/level and fluent in mandarin/basic English

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

Basic Qualification: Able to speak, Read, and Write chinese language

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

No.

TANZILA TRADING INC. U-29 3/f Bac., Bagong Milenyo F.b. Harrison St., Barangay 76, Pasay City

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

Basic Qualification: Able to speak, Read, and Write chinese language

Brief Job Description: Responsible for heading research and explore techniques on supporting services based on advanced technology such as machine learning, data intelligence and etc.

TAN HER SHYAN Project Manager

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

SHANG PROPERTIES, INC. Shangri-la Plaza Edsa, Cor Shaw Boulevard, Wack-wack Greenhills, City Of Mandaluyong

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

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

Brief Job Description: Supports operations and establishing governance, which is critical in driving integrity between JPFM and PFM process performance

HAN, SANGBUM Technical Advisor For Cloud Operations Team

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

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

Basic Qualification: College graduate/level and fluent in mandarin/basic English

SAMSUNG ELECTRONICS PHILIPPINES CORPORATION 7th-10th Floor Science Hub Tower, 4 Mckinley Hill, Pinagsama, City Of Taguig

Basic Qualification: Able to speak, Read, and Write chinese language Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

PHILIPPINE FAMILYMART CVS, INC. 4/f Alco Building, Sen. Gil Puyat Ave. Cor. Geronimo St., Bel-air, City Of Makati

ZHANG, XIUYU Digital Marketing Specialist Brief Job Description: Execute campaigns and promotion, collect preliminary data and result in order to gain new market penetration, maintain market share and assist in campaign effectiveness analysis. Project management onsite changes, improvements and new features on the platform for marketing strategies. Works with marketing team to identify a target market, create a brand image and create and maintain a marketing campaign for the internet and for digital technologies both Chinese and Vietnamese client and the company. Responsible developing strategy in online, utilizing such techniques in the field of social media, web analytics, e-mail marketing and search engine optimization

ZHI, JINGRUI Chinese Customer Service

A15

ESTABLISHMENT / ADDRESS

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f, Pearl Marina Building Pacific Drive, Don Galo, City Of Parañaque

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

LUCKY BINTANG CONSULTANCY INC. Unit G-02 Makati Executive Tower 2, 7652 Dela Rosa St. Cor. P. Medina St., Pio Del Pilar, City Of Makati

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Friday, March 4, 2022

ZHANG, YANG Mandarin Finance Supervisor 135.

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

HU, BIN Mandarin Management Supervisor 136.

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

KUANG, CHENGLONG Mandarin Marketing Manager 137.

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

Basic Qualification: Proven experience as Mandarin Finance Supervisor, excellent communication, interpersonal and presentation skills.

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

Basic Qualification: Proven experience as Mandarin Management Supervisor, excellent communication, interpersonal and presentation skills.

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

Salary Range: Php 30,000 - Php 59,999 *Date Generated: Mar 3, 2022

In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 16, 2022, the name and position of CHEN, LU under BIGCAT SOFTWARE SOLUTIONS, INC., should have been read as BUHA ASIH SIHOMBING, JAROENNAMTHONGKAM, KAMPON, THANOMWAT, MALINEE, and SATIPA, JUTIPAN with a position of Bahasa Indonesian LanguageOfficer Risk Management and Thai Language-Officer Customer Service respectively, 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.

Companies BusinessMirror

Editor: Jennifer A. Ng

Friday, March 4, 2022

ICTSI sets $330-M capital expenditures for this year

Photo shows Manila International Container Terminal, ICTSI’s flagship operations. From www.ictsi.com

I

By Lorenz S. Marasigan

@lorenzmarasigan

nternational Container Terminal Services Inc. (ICTSI) is increasing its capital expenditures for 2022 to $330 million from $165 million last year to fund expansion projects for its ports in the Philippines as well as in other territories.

The company said the amount will be used to pay for concession upfront fees for its port in Madagascar, the

ongoing expansion of its port in the Democratic Republic of Congo as well as in Australia and in Mexico.

The amount will also be used to finance the expansion of Berth 8 of the Manila International Container Terminal and for the purchase of equipment as well as for the maintenance of its ports.

ICTSI saw profits ballooning by 321 percent to $428.57 million in 2021 from $101.76 million the year prior. Its revenues rose by 24 percent to $1.87 billion from $1.51 billion on the back of a 10-percent increase in consolidated volume to 11.16 million twenty-foot equivalent units (TEUs) from 10.19 million TEUs the previous year.

While ICTSI remains hopeful heading into 2022 that the worst of the Covid-19 crisis has passed,

ICTSI Chairman Enrique K. Razon Jr. said, the company is “aware of the potential social, political and economic impact arising as a result of the disconcerting events unfolding in Ukraine and as such are monitoring the situation closely.”

“We are a resilient business and our performance over the last year reflects the actions we’ve taken to create long-term value for all our stakeholders. I extend my thanks to all of the ICTSI colleagues who have helped us achieve these positive outcomes for the business,” Razon said in a statement.

The company reported last month that its Subic port has been added to the Mediterranean Shipping Company’s (MSC) expanded Seahorse Service, linking Northern and Central Luzon to global markets.

ICSTI said Subic Bay International Terminals now provides the region “a reliable link to global markets especially Europe and the United States” through the inclusion of the port to the rotation of the Seahorse Service.

“Industries including agriculture, automotive, electronics, construction and garments can take advantage of the service’s connection to major transshipment hubs like Singapore, Vung Tau and Tanjung Pelepas, as well as the seamless connectivity to MSC’s global ocean liner network, to ship their products worldwide,” ICTSI’s statement read.

B1

BOC: Petron among PHL’s top taxpayers

By Lenie Lectura @llectura

P

etron Corp. has been cited by the Bureau of Customs (BOC) as among the country’s top taxpayers and importers for 2021.

The country’s lone oil refiner said Thursday that it has consistently ranked as the highest contributor to the government’s Fuel Marking Program which seeks to address tax leakages from fuel smuggling. Of the 35.92 billion liters of fuel marked since September 2019, Petron accounted for 8.69 billion liters or 24 percent.

The awarding was held last February 23 at BOC’s 120th year celebration.

Over the years, other Petron facilities nationwide have also been cited for their contributions in helping the country realize its tax targets.

At the Petron Bataan Refinery in Limay, Bataan, representatives

from the BOC, Bureau of Internal Revenue, Philippine Ports Authority, and Authority of the Freeport Area of Bataan regularly witness every import, domestic, and export activity, underscoring the company’s transparency.

Petron is building new power plant facilities in the refinery, which will replace some of its old generators, increase steam production, and expand power generation capacity from 140MW to 184MW. This is part of Petron’s planned capital expenditure projects to ensure reliability and efficiency of critical refinery process. Other projects include putting up more retail service stations, expand its retail network of its LPG, lubes and non-fuel segment, upgrade its logistics capacity, and expand its Malaysia operations with new service stations and facilities improvement in the Port Dickson refinery and terminals.

Jollibee opens new store in Vancouver

‘PLDT towers fetch bids of ₧50B’

I

nvestors are keen on buying the tower assets of telco titan PLDT Inc., whose tower business fetched “north of P50 billion” in bids, an amount that will allow the company to leverage its debts.

The telco is selling 6,000 of its towers—or roughly half of its 12,000 towers — to two entities. It received initial bids from 19 bidders, which were later brought down to six.

From those six groups, which PLDT President Alfredo Panlilio described “as common tower players

globally,” PLDT will award two contract packages of 3,000 towers each.

“We went through a very disciplined and tedious process,” he said, adding that the group expects to award the deals within the second quarter of the year.

PLDT Chairman Manuel V. Pangilinan said that the bids received reflect the value of the telco group.

“We’ve always said that PLDT is undervalued and what further evidence can we have if tower prices can fetch higher than P1 billion,” he said.

Pangilinan noted that aside from the financial bid, PLDT is looking at technical capabilities and capacities in choosing the auction winners.

“It’s not a total let go of those towers—it’s a sale and lease back,” he said. “The nature of the relationship with the buyers of those towers will be a partnership…it’s a symbiotic relationship.”

After the award, PLDT and the winners will enter into a so-called transition period, wherein PLDT will

transfer the tower assets on a staggered basis. This is expected to be completed “within the year.”

The proceeds of the tower sale will go to leveraging PLDT’s existing debts. It is also seen as beneficial for the company as it will generate savings in capital expenditures and operations and maintenance expenses.

PLDT first floated the idea of selling its tower assets in mid 2021, when it was “persuaded” to sell a portion of its towers to tower companies. Lorenz S. Marasigan

SariSuki SEC issues rules on removing directors bags $10.7M in new funds

By VG Cabuag @villygc

L

ocal e-commerce startup SariSuki, founded by former Grab Philippines country head Brian Cu, raised $10.7 million in funding from regional and global investors.

SariSuki said Openspace, Susquehanna International Group (SIG), Global Founders Capital (GFC), Saison Capital, JG Digital Equity Ventures, and Foxmont Capital Partners are among its investors.

“With the new funds, SariSuki aims to deepen the breadth and depth of its operations to serve more Filipino consumers,” the startup said in a statement.

The e-commerce grocery sector player was introduced in May last year. It was able to grow its gross merchandise value by 36 times in the past nine months.

It has served over 60,000 consumers from the Greater Metro Manila Area, Bulacan, Cavite, Laguna, Rizal and Pampanga.

“We are a set of founders that grew up in the Philippines and have an understanding of our market. This combined with our background in scaling up large tech companies in the region made us realize we can do more by increasing efficiencies in our supply chain infrastructure,” Cu said. Tyrone Jasper C. Piad

T

he Securities and Exchange Comm ission (SEC) h a s tightened the rules governing the disqualification and removal of directors, trustees, and officers of corporations.

The SEC issued a memorandum circular for the said guidelines that operationalize Sections 26 and 27 of Republic Act 11232, or the Revised Corporation Code of the Philippines last February 15.

Section 26 of the law provides that a person shall be disqualified from being a director, trustee or officer of any corporation if, within five years prior to their election or appointment, the person was convicted by final judgment of an offense punishable by imprisonment for a period exceeding six years, as well as for violating the RCC. A person will also be disqualified if found administratively liable for any offense involving fraudulent acts, or found liable by a foreign court or equivalent regulatory authority for acts, violations or misconduct similar to the conditions.

“Persons convicted of tax eva-

sion by final judgment are disqualified from becoming a director, trustee, or officer of a corporation within five years from election or appointment in the position, as well as during his tenure as officer at the time when the conviction by final judgment was given,” the SEC said.

Under the rules, disqualification refers to the fact or condition that disqualifies a person from being a director, trustee, or officer, while removal pertains to the act of taking away a person from such position.

An independent administrative action for the removal of a director, trustee and officer of a corporation may be started upon the issuance of a formal charge by the SEC operating department that has jurisdiction over the subject matter, or upon filing of a verified complaint with the operating department.

The formal charge will specify the grounds for removal of the company official, provide a statement of material or relevant facts, and direct the respondent to file a verified answer within 15 days from receipt thereof. Meanwhile, a verified complaint may be filed by a real party in interest for the

removal of the director, trustee and officer.

The SEC may remove a director, trustee and officer of a corporation as a sanction in its proceedings if, during its administrative or adjudicative proceedings, it has been established that the grounds for their disqualification are present.

In addition to the removal of the director, trustee, and/or officer, the SEC may also issue a permanent cease and desist order, and impose a fine from P10,000 to P400,000 for each violation of its orders, or any relevant laws and regulations.

For a one-person corporation whose sole director has been removed, the nominee shall take the place of the single stockholder as director and manage the corporation’s affairs.

The SEC will keep a record of all those removed directors, trustees or officers along with its orders, decisions or resolutions.

The said index will only be for the use of the SEC, and may not be accessed or asked about by outside parties, except with the authority of the individual concerned, and the approval of the SEC operating department’s director.

Contributed photo

J

ollibee Food s Cor p. on Thursday said thousands of people lined up during the opening of its branch in Vancouver in Canada.

Its new store is situated on Granville Street in the heart of Vancouver’s downtown entertainment district. The new store marks Jollibee’s premier first location in the Province of British Columbia and its 23rd store in Canada.

“Jollibee’s entry into the Vancouver market is a milestone for the Jollibee group as we continue to expand in North America in line with our vision of becoming one of the top five restaurant companies in the world,” Ernesto Tanmantiong, Jollibee president and CEO said.

“We are extremely delighted by the enthusiastic reception to our first Jollibee store, and we look forward to serving our greattasting food.”

The new Granville Street store is not only the first Jollibee to open in Canada’s western region, but it also means the brand now has a presence in four of the five most populous Canadian provinces – Ontario, British Columbia, Alberta and Manitoba.

Jollibee said fans began showing up around Thursday 8:30 p.m. during its opening late last month, where they camped out

over 12 hours to be among the first in line for Friday’s 9 a.m. opening. Among them was Vancouver resident and long-time Jollibee fan, Kei Kondo, who secured the coveted spot of being the store’s first official customer.

By lunchtime, the line was wrapped around the corner of Robson and Howe Streets, and it grew even longer, spanning more than three blocks by the afternoon. By the time the doors closed at 10 p.m., Jollibee had served up thousands of its signature menu items to customers that came in droves.

The company said the excitement remained high, as the long line of customers could still be seen even on the fourth day from store opening.

“We are so fortunate to have such a devoted fan base here in Vancouver, and I was personally humbled by how many first-timers to our brand came out to experience our delicious food and cheerful service for themselves,” Maribeth Dela Cruz, business group head of Jollibee North America, said.

Jollibee said it has plans to open two more locations in the metro area by the end of this year at the Strawberry Hill Shopping Centre in Surrey and Cambie Street near Downtown’s Vancouver City Hall. VG Cabuag

B2

Companies BusinessMirror

Friday, March 4, 2022

Meralco sees power sales growing by 6% this year

T

By Lenie Lectura

@llectura

HE Manila Electric Co. (Meralco) is expecting to register over a 6-percent increase in electricity sales volume this year as restrictions eased under Alert Level 1.

“Six percent is achievable and more if commercial picks up because, well, industrial sales continue to be robust, while the commercial establishments open up, I think, it will bring the numbers up for Meralco to 6 percent or even more,” said Meralco chief commercial officer and head of customer retail services Ferdinand Geluz.

Meralco reported that consolidated distribution utility energy sales volumes in 2021 rose by 6 percent to 46,073 GWh (gigawatt hours) from 43,572 GWh in 2020.

Energy sales volumes from Meralco and Clark Electric Distribution Corp. went up by 6 percent and 10 percent, respectively.

The improvement was driven by

sustained residential consumption, ramp-up in commercial volumes amid more relaxed quarantine restrictions, and strong industrial rebound within the franchise areas. In terms of the sales mix, residential sales accounted for 37 percent, while commercial and industrial sales accounted for 33 percent and 30 percent, respectively.

In January this year, Geluz said Meralco’s consolidated sales volume grew to 3,506GWh. “This is actually 2 percent better than 2021”.

For February, Meralco is still finalizing the numbers. “But all indications lead to an increase of 6 percent at least for Meralco. So, we estimate Meralco volume to be more than 3,700 GWh and plus north of 3,700 GWh if we include Clark. That’s a 6-6.5 percent increase.”

Meralco reported robust earnings in 2021 due to higher energy sales volume and contributions from its power generation business.

Core profit grew by 13 percent to P24.6 billion last year from P21.7 billion in 2020. Net income, meanwhile, jumped by 44 percent year-on-year to P23.5 billion from P16.3 billion due to the absence of exceptional charges arising from the impairment recognized in 2020 on its investment in PacificLight Power Pte. Ltd. Consolidated revenues went up by 16 percent to P318.5 billion from P275.3 billion, mainly driven by electricity revenues, which grew by 15 percent to P309.2 billion.

Energy sales volumes returned to near pre-pandemic levels as customer count reached 7.4 million at end-2021.

DMCI Mining net income surges to ₧1.7B

D

MCI Mining Corp. posted a net income of P1.7 billion in 2021, nearly three times the P575-million profit it booked in 2020.

The company said its net income in 2021, its highest ever, is due to the record high shipments of nickel ore.

DMCI shipped 1.9 million wet metric tons (WMT) of nickel ore in 2021, 18 percent higher than 1.6 WMT the prior year. This is also an “all-time high” for the company.

“2021 was a banner year for us.

We were able to take advantage of the strong China demand and elevated nickel prices because our two mining assets were operational the whole year,” DMCI Mining President Tulsi Das C. Reyes said in a statement.

Of the total nickel ore shipments, more than 1 million WMT came from Berong Nickel Corp. while Zambales Diversified Metals Corp. accounted for nearly 900,000 WMT. Average selling prices jumped 40 percent to $42 from $30 on low global inventory amid a strongerthan-expected recovery in stainless

steel production, steady build-up in electric vehicle battery demand, and the continuing Indonesian nickel ore export ban.

Meanwhile, the average nickel grade of the shipped nickel slightly improved to 1.36 percent from 1.33 percent.

DMCI Mining revenues grew 63 percent to P4 billion in 2021 from P2.5 billion. Excluding a nonrecurring income of P247 million mainly due to deferred tax liability remeasurement, its core net income soared 144 percent to P1.4 billion, from P575 million.

“We expect significant market volatility due to the worsening conflict between Russia and Ukraine.

The economic sanctions on Russia will lead to significant supply disruptions,” said Reyes.

Accounting for roughly 7 percent of global nickel production, Russia is a major exporter of high-grade nickel to Europe and China. London Metal Exchange nickel prices hit $26,105 per ton on February 24, the highest level in more than 10 years, as Russia invaded Ukraine. Jonathan L. Mayuga

mutual funds

March 3, 2022

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

233.37

5.88%

-3.32%

-1.54%

0.12%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5895

20.58%

0.3%

2.61%

-4.49%

-7.06%

-4.2%

0.03%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2388

6.81%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7619 -1.54%

-6.14% n.a.

0.71%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7363 5.91%

-4.31% n.a.

-4.49%

9.31%

-1.13%

0.32%

0.75%

First Metro Save and Learn Philippine Index Fund, Inc. -a

First Metro Save and Learn Equity Fund,Inc. -a

5.2217

0.7809

10.39%

-2.93%

-3.16%

MBG Equity Investment Fund, Inc. -a

91.75

-8.44%

-9.4% n.a.

-2.84%

PAMI Equity Index Fund, Inc. -a

47.8027

5.26%

-1.92%

-0.05%

-0.67%

Philam Strategic Growth Fund, Inc. -a

500.99

5.66%

-2%

-0.48%

0.06%

Philequity Dividend Yield Fund, Inc. -a

1.3708

20.94%

2.28%

2.32%

1.07%

Philequity Fund, Inc. -a

36.6465

8.53%

-1.01%

1%

0.14%

0.9496

7.79%

-1.91% n.a.

0.87%

Philequity PSE Index Fund Inc. -a

4.9473

6.45%

-1.15%

0.66%

-0.27%

Philippine Stock Index Fund Corp. -a

823.56

5.91%

-1.23%

0.57%

-0.6%

Soldivo Strategic Growth Fund, Inc. -a

0.7526

7.28%

-5.7%

-2.37%

0%

7.44%

-3.53%

-0.7%

0.06%

0.938

5.42%

-1.56%

0.29%

6.69%

-1.52%

1.31%

0.4%

Philequity MSCI Philippine Index Fund, Inc. -a

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7776 Sun Life Prosperity Philippine Stock Index Fund, Inc. -a United Fund, Inc. -a

3.4512

Philequity Alpha One Fund, Inc. -a

1.1947

13.41% n.a. n.a.

-0.31%

-0.69%

2.75%

1007.57 n.a. n.a. n.a. n.a.

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

110.9878

6.34%

-0.97%

1.06%

-0.44%

Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b

$1.0649

Sun Life Prosperity World Voyager Fund, Inc. -a $1.6552

-18.93%

1.77%

3.19%

-5.47%

-4.16%

9.84%

8.57%

-10.36%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a

1.6634

0.45%

-0.66%

-0.59%

-1.69%

ATRAM Philippine Balanced Fund, Inc. -a

2.2767

2.19%

0.08%

0.06%

-0.21%

5.55%

1.34%

1.6%

0.44%

First Metro Save and Learn Balanced Fund Inc. -a 2.7029

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2116

9.92% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

2.08%

2.0082

3.15%

1.91%

PAMI Horizon Fund, Inc. -a

3.7387

1.48%

1.39%

0.72%

-0.7%

16.7644

1.44%

1.08%

0.69%

-0.48%

Solidaritas Fund, Inc. -a

2.1205

3%

0.15%

0.63%

-0.04%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6369 3.61%

-1.18%

0.2%

-0.28%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.14%

0.73%

0.45%

0.9585

10.05%

1.24%

-0.42%

Philam Fund, Inc. -a

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.9675

-1.81%

-0.15% n.a.

-2.25%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.9285

1.85%

-1.23% n.a.

-1.69%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.9194

2.33%

-1.51% n.a.

-1.55%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a

$0.03577

-6.43%

0.06%

0.27%

-5.72%

$1.0431

-10.01%

1.84%

2.55%

-2.25%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.4244 -4.08%

6.92%

6.29%

-7.87%

3.1%

2.84%

-5.81%

PAMI Asia Balanced Fund, Inc. -b

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.129 -4.54%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a

373.9

0.83%

2.65%

2.44%

-0.11%

ATRAM Corporate Bond Fund, Inc. -a

1.8861

-1%

0.4%

0.02%

0.07%

Cocolife Fixed Income Fund, Inc. -a

3.2444

0.85%

2.71%

3.73%

0.01%

Ekklesia Mutual Fund Inc. -a

2.2235

-1.45%

1.16%

1.19%

-1.24%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4195 -0.45%

2.83%

1.79%

-0.27%

Philam Bond Fund, Inc. -a

3.33%

1.19%

-1.51%

4.3291

-4.03%

Philam Managed Income Fund, Inc. -a

1.3162

-0.33%

3.47%

2.77%

-0.22%

Philequity Peso Bond Fund, Inc. -a

3.9384

-0.67%

3.22%

2.52%

-0.69%

Soldivo Bond Fund, Inc. -a

1.0231

0.02%

3.99%

1.97%

-0.5%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1667

-0.62%

3.76%

3.08%

-0.65%

Sun Life Prosperity GS Fund, Inc. -a

-1.41%

2.92%

2.37%

-0.87%

1.7156

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a

$486.82

0.74%

2.52%

2.26%

ALFM Euro Bond Fund, Inc. -a

Є216.93

-1.14%

0.31%

0.63%

-1.4%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1345

-6.15%

-0.54%

0.4%

-5.76%

-0.56%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0252 -3.08%

0.27%

0.24%

-3.08%

PAMI Global Bond Fund, Inc -b

$0.9683

-9.04%

-2.69%

-1.85%

-5.33%

Philam Dollar Bond Fund, Inc. -a

$2.3802

-4.25%

2.28%

1.67%

-5.01%

$0.0613245

-1.98%

2.11%

1.53%

-1.55%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.0074 -4.37%

0.85%

0.52%

-5.91%

Philequity Dollar Income Fund Inc. -a

Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a

131.44

1.13%

2.56%

2.54%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0597

1.01%

1.84% n.a.

Sun Life Prosperity Peso Starter Fund, Inc. -a,1

1.51%

2.44%

2.51%

1.319

0.19% 0.19%

0.26%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0617

0.69%

1.34% n.a.

0.1%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

45.4983 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2882

8.53% n.a. n.a.

-6.85%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.9155

-6.58% n.a. n.a.

PSE STOCK QUOTATIONS

March 3, 2022

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

44.25 130.8 98.4 27.25 6.91 9.14 57.5 9.51 18.22 19.88 56 22.5 113.8 98.5 2.15 4 0.79 0.33 0.63 216 2,598

44.35 131 98.5 27.3 7.5 9.17 57.55 9.87 18.28 19.9 57 22.65 114.7 98.6 2.21 4.06 0.82 0.335 0.69 224 2,600

44 131.2 98.6 27.4 8.34 8.99 57.1 9.88 18.22 19.94 57.8 21.6 113.8 98 2.02 4.05 0.79 0.33 0.68 223.8 2,598

44.25 131.3 99 27.4 8.35 9.19 58.15 9.9 18.22 19.98 57.8 22.7 114.8 99.85 2.21 4.06 0.79 0.33 0.69 224 2,600

44 130.2 98.2 27.2 8.34 8.99 57.1 9.51 18.22 19.8 56 21.6 113.7 97.65 2.02 4.05 0.79 0.33 0.68 211.2 2,598

44.25 131 98.5 27.3 8.35 9.14 57.5 9.51 18.22 19.9 57 22.5 113.8 98.5 2.21 4.06 0.79 0.33 0.69 224 2,598

2,000 4,079,510 2,951,750 128,600 4,100 151,400 2,110,170 45,300 200 259,600 170 159,300 122,630 25,460 1,797,000 18,000 9,000 190,000 344,000 5,130 40

88,250 533,795,672 290,683,184 3,508,780 34,234 1,380,509 121,767,754.50 447,006 3,644 5,158,272 9,688 3,525,145 13,960,319 2,502,029.50 3,881,900 73,060 7,110 62,700 237,230 1,128,664 103,960

INDUSTRIAL

-5.62%

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."

-53,254,478 -6,923,801 618,575 -331,759 25,832,645 -125,192 1,652,095 -4,749,435 48,914.50 -931,742 -

AC ENERGY 8.25 8.34 8.1 8.35 8.1 8.34 10,748,900 88,394,586 ALSONS CONS 1.01 1.02 1 1.01 1 1.01 81,000 81,710 ABOITIZ POWER 34.55 35 35.5 35.65 34.5 34.55 1,686,400 58,563,820 0.51 0.52 0.5 0.52 0.5 0.51 5,864,000 2,973,330 BASIC ENERGY 27.3 27.35 27.4 27.5 27.3 27.35 38,600 1,055,290 FIRST GEN FIRST PHIL HLDG 70.5 70.7 70.5 70.7 70.4 70.5 68,560 4,838,400 MERALCO 360 361.2 355 362 354 361.2 298,890 107,457,396 21.55 21.65 21.7 21.7 21 21.55 634,100 13,672,555 MANILA WATER 3.63 3.64 3.45 3.63 3.45 3.63 13,870,000 49,566,150 PETRON 4.75 4.76 4.52 4.76 4.52 4.75 696,000 3,263,030 PETROENERGY PHX PETROLEUM 10.6 10.68 10.7 10.7 10.34 10.7 27,600 289,486 SYNERGY GRID 12.12 12.2 12.12 12.24 12.1 12.2 2,090,000 25,366,798 19.3 19.32 18.5 19.52 18.4 19.32 522,200 9,975,328 PILIPINAS SHELL 14.26 14.4 14.2 14.4 14.2 14.4 74,800 1,074,770 SPC POWER SOLAR PH 2.12 2.13 2.15 2.17 2.08 2.13 187,664,000 398,750,990 VIVANT 14.02 16.06 16 16 16 16 1,500 24,000 AGRINURTURE 5.58 5.59 5.44 5.6 5.42 5.59 6,197,900 33,837,758 2.62 2.65 2.76 2.76 2.6 2.61 685,000 1,793,680 AXELUM 25.25 25.3 24.8 25.6 24.8 25.3 216,700 5,476,040 CENTURY FOOD DEL MONTE 15.84 16 15.66 16 15.66 15.98 38,600 614,176 DNL INDUS 7.99 8 8.09 8.1 7.92 8 2,146,200 17,122,034 19.14 19.36 19.18 19.38 19.1 19.36 2,680,000 51,733,246 EMPERADOR 65.15 65.5 66.6 66.6 65.15 65.15 82,120 5,376,544.50 SMC FOODANDBEV FIGARO COFFEE 0.66 0.67 0.68 0.69 0.66 0.67 23,883,000 16,022,440 ALLIANCE SELECT 0.61 0.63 0.58 0.63 0.58 0.58 24,000 13,970 FRUITAS HLDG 1.2 1.21 1.18 1.21 1.18 1.2 3,139,000 3,758,350 110.3 112.3 113.5 113.5 110 110.3 214,870 24,118,401 GINEBRA 240.2 242.8 238.8 243.4 238.6 242.8 274,550 66,243,080 JOLLIBEE KEEPERS HLDG 1.3 1.31 1.27 1.32 1.27 1.3 4,200,000 5,425,210 MACAY HLDG 5.64 6.69 5.64 5.64 5.64 5.64 400 2,256 6.35 6.4 6.45 6.45 6.32 6.4 69,100 441,237 MAXS GROUP 0.15 0.159 0.15 0.159 0.148 0.159 640,000 95,350 MG HLDG MONDE NISSIN 14.84 14.9 15.4 15.5 14.84 14.84 15,189,600 227,999,588 SHAKEYS PIZZA 8.52 8.7 8.39 8.71 8.3 8.52 277,300 2,346,207 ROXAS AND CO 0.69 0.71 0.68 0.72 0.66 0.72 3,432,000 2,358,990 4.5 4.6 4.6 4.6 4.5 4.6 10,000 45,300 RFM CORP ROXAS HLDG 1.2 1.25 1.2 1.2 1.2 1.2 3,000 3,600 SWIFT FOODS 0.102 0.105 0.104 0.108 0.102 0.102 1,120,000 115,430 UNIV ROBINA 120.5 120.8 119.9 121.4 119.9 120.8 297,070 35,865,099 0.66 0.67 0.66 0.66 0.66 0.66 84,000 55,440 VITARICH CEMEX HLDG 1.03 1.05 1.04 1.05 1.02 1.05 8,868,000 9,190,240 13.66 13.7 13.7 13.7 13.7 13.7 27,100 371,270 EAGLE CEMENT EEI CORP 5.94 5.98 6.18 6.18 5.9 5.94 53,700 320,602 HOLCIM 5.93 5.99 6.1 6.2 5.85 5.93 260,500 1,544,552 5.41 5.47 5.45 5.5 5.35 5.45 1,216,900 6,648,210 MEGAWIDE 20 20.8 20.9 20.9 20 20 70,300 1,415,980 PHINMA TKC METALS 0.77 0.81 0.78 0.78 0.78 0.78 27,000 21,060 VULCAN INDL 1.11 1.12 1.01 1.14 1 1.12 12,920,000 13,993,620 EUROMED 1.28 1.32 1.35 1.35 1.28 1.28 17,000 22,100 4.32 4.43 4.4 4.43 4.4 4.43 5,000 22,090 MABUHAY VINYL PRYCE CORP 5.7 5.76 5.81 5.81 5.7 5.7 407,600 2,323,801 CONCEPCION 20.8 22.15 20.5 22.45 20.5 22.25 16,000 329,850 GREENERGY 1.86 1.87 1.86 1.88 1.82 1.87 6,572,000 12,129,640 8.8 8.9 8.41 8.9 8.41 8.9 1,377,600 11,964,023 INTEGRATED MICR 0.72 0.75 0.75 0.76 0.75 0.76 115,000 87,150 IONICS PANASONIC 6 6.18 6.1 6.18 6.1 6.18 4,600 28,258 SFA SEMICON 1.16 1.19 1.17 1.18 1.12 1.18 402,000 463,340 CIRTEK HLDG 3.6 3.61 3.68 3.73 3.6 3.6 1,339,000 4,873,530

-4,440,984 3,000 1,705,850 20,400 366,660 76,825 57,956,776 -1,024,000 14,474,090 5,112,678 -1,965,748 -16,887,450 -13,694,526 32,160 -373,835 9,480 1,910,654 -5,280,354 -3,132,202.50 6,800 -119,908 20,505,944 2,723,370 12,900 -103,179,070 -991,087 553,380.00 4,664,705 827,200 -19,154 4,680 4,359,650 165,520 -12,650 -307,500 159,960 8,124,467 -299,990

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

-104,400 4,188,525 3,375,946 -1,595,526 874 22,346 -3,597,844 -13,266,345 18,952,709.50 -1,006,320 1,497,469 -17,460,140 -1,040 26,171,025 142,700 24,750

HOLDING & FRIMS

0.86 847 61 12.9 8.73 1.03 0.69 0.68 5.1 9.26 0.24 587.5 3.7 60.55 2.96 9.49 0.335 3.8 1.23 0.99 942 107 119.2 0.17

0.87 848 62.4 12.92 8.8 1.04 0.7 0.7 5.12 9.27 0.25 590 3.75 61 2.97 9.54 0.405 3.81 1.25 1.04 957 107.4 121.9 0.178

0.88 861 61 13.26 8.68 0.98 0.68 0.71 5.12 9.15 0.25 589 3.7 61.5 2.95 9.54 0.335 3.82 1.23 1 932 107.2 121.9 0.17

0.89 861 62.4 13.28 8.79 1.04 0.7 0.71 5.12 9.35 0.25 590 3.7 61.5 2.96 9.56 0.345 3.84 1.25 1.04 957 107.5 121.9 0.178

0.86 844 61 12.8 8.68 0.98 0.68 0.68 5.09 9.15 0.25 575 3.7 60.4 2.95 9.41 0.335 3.79 1.23 0.98 925 106 119.1 0.165

0.87 848 62.4 12.9 8.79 1.03 0.69 0.68 5.1 9.27 0.25 590 3.7 61 2.96 9.54 0.34 3.8 1.23 1.04 957 107.4 119.2 0.178

3,127,000 311,750 320,410 2,138,300 81,700 2,508,000 3,060,000 60,000 81,400 23,082,900 290,000 106,180 37,000 657,270 455,000 1,061,100 410,000 11,658,000 43,000 12,000 329,900 31,140 600 3,100,000

2,718,430 264,905,970 19,880,480.50 28,085,202 711,678 2,570,490 2,101,400 41,710 415,069 213,942,587 72,500 62,399,565 136,900 40,038,540.50 1,346,570 10,062,267 139,150 44,438,530 52,910 12,000 311,022,490 3,336,448 71,615 515,560

PROPERTY

Primarily invested in Peso securities (units) Philippine Stock Index Fund Corp. -a

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ARTHALAND CORP 0.59 0.6 0.59 0.6 0.59 0.59 167,000 98,600 AYALA LAND 37.8 38 37.95 38 37.4 38 4,612,500 174,028,195 AYALA LAND LOG 4.86 4.87 4.91 4.93 4.83 4.86 1,113,000 5,423,470 50.5 51.35 51.9 51.9 50.5 50.5 951,340 48,698,011 AREIT RT 0.92 0.93 0.88 0.92 0.85 0.92 1,453,000 1,319,640 A BROWN CITYLAND DEVT 0.71 0.73 0.72 0.72 0.7 0.71 36,000 25,670 CROWN EQUITIES 0.095 0.099 0.098 0.098 0.098 0.098 390,000 38,220 2.92 2.93 2.92 2.95 2.9 2.93 394,000 1,151,880 CEB LANDMASTERS CENTURY PROP 0.415 0.42 0.41 0.42 0.41 0.42 1,020,000 428,250 CITICORE RT 2.73 2.74 2.75 2.78 2.72 2.74 14,230,000 39,001,770 DOUBLEDRAGON 11.32 11.38 11.2 11.42 11 11.38 2,195,200 24,768,292 DDMP RT 1.77 1.78 1.78 1.78 1.76 1.77 5,404,000 9,568,960 6.98 6.99 6.8 7 6.8 6.99 84,900 590,673 DM WENCESLAO 0.247 0.25 0.255 0.255 0.25 0.25 210,000 52,550 EMPIRE EAST EVER GOTESCO 0.28 0.29 0.28 0.295 0.28 0.29 3,810,000 1,096,000 FILINVEST RT 7.41 7.42 7.45 7.48 7.38 7.42 778,900 5,770,001 FILINVEST LAND 1.08 1.09 1.1 1.1 1.08 1.09 1,016,000 1,100,740 0.92 0.95 0.91 0.91 0.91 0.91 25,000 22,750 GLOBAL ESTATE 8990 HLDG 13.4 13.72 13.68 13.74 13.38 13.72 134,000 1,825,082 PHIL INFRADEV 1.01 1.02 1.02 1.02 1.01 1.01 157,000 159,720 CITY AND LAND 0.83 0.86 0.83 0.86 0.83 0.86 110,000 91,960 3.18 3.19 3.2 3.21 3.15 3.18 17,425,000 55,317,650 MEGAWORLD 0.275 0.28 0.275 0.28 0.27 0.28 4,320,000 1,188,000 MRC ALLIED MREIT RT 19.8 19.92 20.1 20.1 19.8 19.8 1,939,400 38,727,477 PHIL ESTATES 0.45 0.46 0.46 0.46 0.45 0.45 2,410,000 1,089,200 PRIMEX CORP 2.06 2.07 2.01 2.08 2.01 2.06 1,538,000 3,163,470 7.97 7.98 8 8 7.87 7.98 4,625,200 36,869,992 RL COMM RT 19.98 20 19.98 20 19.62 20 3,883,700 77,379,054 ROBINSONS LAND PHIL REALTY 0.242 0.25 0.234 0.255 0.234 0.242 2,120,000 519,380 ROCKWELL 1.43 1.49 1.43 1.48 1.42 1.48 116,000 166,910 2.57 2.61 2.61 2.61 2.61 2.61 2,000 5,220 SHANG PROP STA LUCIA LAND 2.77 2.85 2.76 2.92 2.75 2.86 68,000 189,790 SM PRIME HLDG 39 39.25 38.4 39.7 38.4 39.25 11,517,700 450,813,575 SOC RESOURCES 0.6 0.64 0.6 0.6 0.6 0.6 1,000 600 VISTAMALLS 3.54 3.55 3.54 3.54 3.54 3.54 20,000 70,800 1.05 1.11 1.07 1.11 1.06 1.11 30,000 31,940 SUNTRUST HOME VISTA LAND 3.08 3.09 3.19 3.2 3.06 3.09 2,135,000 6,604,210

SERVICES ABS CBN 12.6 12.62 12.5 12.8 12.5 12.6 35,100 443,786 GMA NETWORK 15.34 15.4 15.18 15.44 14.9 15.4 2,442,500 37,291,132 MANILA BULLETIN 0.41 0.42 0.41 0.42 0.405 0.42 90,000 37,000 9.38 9.97 9.38 9.38 9.38 9.38 100 938 MLA BRDCASTING GLOBE TELECOM 2,550 2,562 2,580 2,586 2,520 2,560 88,740 225,999,200 PLDT 1,815 1,830 1,750 1,830 1,732 1,830 199,625 356,784,970 APOLLO GLOBAL 0.074 0.075 0.069 0.075 0.068 0.074 545,720,000 39,880,920 26.5 26.75 26 26.75 25.95 26.75 6,710,300 177,197,330 CONVERGE 2.32 2.35 2.36 2.38 2.3 2.32 127,000 297,050 DFNN INC 5.64 5.65 5.58 5.71 5.47 5.65 16,436,600 91,939,298 DITO CME HLDG JACKSTONES 1.6 1.64 1.64 1.64 1.64 1.64 3,000 4,920 NOW CORP 1.23 1.25 1.23 1.26 1.21 1.25 535,000 658,370 0.365 0.37 0.375 0.38 0.36 0.365 10,530,000 3,864,800 TRANSPACIFIC BR 7.31 7.5 7.5 7.5 7.3 7.5 22,900 169,510 2GO GROUP ASIAN TERMINALS 14.1 14.2 14.4 14.4 14.2 14.2 10,300 147,000 CHELSEA 1.69 1.7 1.7 1.72 1.67 1.69 297,000 503,240 CEBU AIR 47.75 47.9 47.05 48.2 47.05 47.75 238,400 11,409,005 227.8 228 219.8 228.8 218.2 228 3,495,840 790,803,262 INTL CONTAINER 22 23.3 21.85 23.35 21.85 23.3 1,200 27,415 LBC EXPRESS LORENZO SHIPPNG 0.9 0.92 0.86 0.92 0.86 0.92 22,000 19,700 MACROASIA 6.01 6.03 5.97 6.05 5.8 6.03 2,482,200 14,886,919 0.81 0.83 0.81 0.83 0.79 0.83 736,000 593,390 HARBOR STAR ACESITE HOTEL 1.43 1.53 1.46 1.5 1.38 1.38 237,000 330,370 DISCOVERY WORLD 1.73 1.76 1.76 1.76 1.76 1.76 16,000 28,160 WATERFRONT 0.46 0.49 0.46 0.46 0.46 0.46 250,000 115,000 CENTRO ESCOLAR 6.54 6.88 6.87 6.87 6.86 6.86 1,100 7,547 0.365 0.37 0.36 0.37 0.36 0.365 840,000 303,300 STI HLDG 1.33 1.35 1.35 1.35 1.34 1.34 223,000 298,870 BELLE CORP BLOOMBERRY 7.71 7.79 7.51 7.8 7.51 7.79 5,944,900 45,913,145 PACIFIC ONLINE 1.75 1.85 1.84 1.84 1.83 1.84 120,000 220,750 1.32 1.33 1.34 1.34 1.31 1.33 641,000 851,000 LEISURE AND RES PH RESORTS GRP 1.21 1.22 1.18 1.23 1.17 1.22 5,660,000 6,834,780 0.455 0.46 0.465 0.465 0.455 0.46 3,550,000 1,631,400 PREMIUM LEISURE PHILWEB 2.34 2.35 2.34 2.36 2.34 2.36 253,000 592,890 ALLDAY 0.495 0.51 0.51 0.51 0.495 0.495 23,357,000 11,671,125 5.69 5.85 5.69 5.84 5.69 5.84 12,100 68,864 BERJAYA 8.72 8.78 8.74 8.9 8.71 8.72 518,900 4,535,724 ALLHOME METRO RETAIL 1.4 1.42 1.42 1.43 1.4 1.42 109,000 153,940 PUREGOLD 35.15 35.3 36.5 36.5 35.15 35.15 2,944,900 104,122,445 59.8 60 60.2 61 59.5 60 470,580 28,202,383.50 ROBINSONS RTL 72 73 74.5 74.95 72 72 71,350 5,261,547.50 PHIL SEVEN CORP 1.09 1.1 1.12 1.12 1.07 1.09 3,481,000 3,798,920 SSI GROUP WILCON DEPOT 27.65 27.7 28.9 28.9 27.65 27.65 1,013,600 28,473,885 APC GROUP 0.246 0.255 0.242 0.255 0.242 0.255 720,000 183,470 4.02 4.48 4.48 4.48 4.47 4.47 2,000 8,950 EASYCALL MEDILINES 1.03 1.04 1.04 1.06 1.02 1.04 1,065,000 1,101,930 PAXYS 1.98 2 1.98 1.98 1.98 1.98 37,000 73,260 PRMIERE HORIZON 0.69 0.7 0.71 0.76 0.69 0.7 36,289,000 26,092,390 SBS PHIL CORP 3.8 3.88 3.8 3.8 3.8 3.8 101,000 383,800

MINING & OIL ATOK 6.02 6.34 6.01 6.38 6.01 6.35 45,200 280,518 APEX MINING 1.75 1.76 1.72 1.8 1.72 1.76 6,746,000 11,958,700 7.38 7.39 7.2 7.46 7.2 7.38 2,117,000 15,615,971 ATLAS MINING 5.47 5.57 5.4 5.58 5.4 5.57 195,800 1,081,734 BENGUET A BENGUET B 5.23 5.45 5 5.4 5 5.4 41,000 212,050 COAL ASIA HLDG 0.31 0.315 0.27 0.335 0.27 0.315 19,550,000 5,938,350 2.65 2.69 2.61 2.69 2.57 2.69 161,000 416,180 CENTURY PEAK 2.72 2.74 2.68 2.74 2.65 2.74 14,977,000 40,433,390 FERRONICKEL 0.209 0.215 0.206 0.215 0.206 0.215 3,030,000 636,000 GEOGRACE LEPANTO A 0.175 0.176 0.166 0.175 0.16 0.175 97,760,000 16,732,530 LEPANTO B 0.175 0.176 0.168 0.175 0.165 0.175 6,900,000 1,178,960 0.01 0.011 0.011 0.011 0.011 0.011 5,100,000 56,100 MANILA MINING A MARCVENTURES 2.03 2.04 1.99 2.09 1.99 2.04 10,147,000 20,649,250 NIHAO 1.08 1.1 1.06 1.08 1.06 1.08 157,000 168,760 NICKEL ASIA 8.15 8.18 7.95 8.3 7.94 8.15 29,932,100 243,340,903 ORNTL PENINSULA 1.06 1.07 1.02 1.08 1.02 1.07 5,074,000 5,348,720 6.19 6.2 6.2 6.25 6.1 6.2 2,549,400 15,734,821 PX MINING 32.7 32.75 31 32.7 31 32.7 17,777,600 568,009,245 SEMIRARA MINING UNITED PARAGON 0.0076 0.008 0.0076 0.0082 0.0076 0.008 86,000,000 676,000 ACE ENEXOR 27.95 28 25.65 28 25.65 28 780,400 21,342,085 0.012 0.013 0.012 0.013 0.012 0.012 23,100,000 280,900 ORNTL PETROL A ORNTL PETROL B 0.012 0.013 0.012 0.012 0.012 0.012 100,000 1,200 PHILODRILL 0.01 0.011 0.0099 0.011 0.0099 0.01 312,000,000 3,123,800 PXP ENERGY 6.51 6.58 6.8 6.8 6.41 6.51 1,137,700 7,511,208

PREFFERED HOUSE PREF A 100.1 100.9 100.9 100.9 100.9 100.9 40 4,036 AC PREF B1 504 515 504 504 504 504 460 231,840 BRN PREF A 104.1 105 105.8 105.9 105.8 105.9 150 15,877 47 47.45 47.9 47.9 47 47 3,600 169,290 CEB PREF CPG PREF A 101.5 102 101 102 101 102 30,100 3,040,200 DD PREF 100.9 101.1 101 101.1 100.9 100.9 6,200 625,702 MWIDE PREF 2A 98 100 98 98 98 98 1,000 98,000 100 101.5 100 100 100 100 2,000 200,000 MWIDE PREF 2B MWIDE PREF 4 100 100.5 100 100 100 100 30,530 3,053,000 102.5 103.1 103.1 103.1 102.5 103.1 250 25,745 PNX PREF 3B PNX PREF 4 980 989 988 989 980 980 5,370 5,270,070 PCOR PREF 3A 1,050 1,060 1,050 1,050 1,050 1,050 20 21,000 76.8 76.85 76.7 76.8 76.6 76.8 10,880 835,058 SMC PREF 2H SMC PREF 2K 76 76.5 76 76.05 76 76 27,700 2,105,205 TECH PREF B2C 50.3 52.5 52.5 52.5 52.5 52.5 100 5,250 TECH PREF B2D 54.5 55 55 55 55 55 4,860 267,300

PHIL. DEPOSITARY RECEIPTS GMA HLDG PDR 14.38 14.44 14.3 14.38 14.12 14.38 124,000 1,768,716

WARRANTS TECH WARRANT 0.77 0.78 0.81 0.81 0.76 0.77 3,016,000 2,303,780

8,850 -45,114,320 -349,910 9,422,328 2,100 -1,273,280 -6,146,656 -3,944,470 -34,950 -174,000.00 260,592 76,220 671,558 -21,868,620 5,400 -25,467,451 -9,000 -1,863,000.00 15,242,536 49,060,738 151,975,540 -2,411,580 -693,920 86,090,010 36,700.00 -27,204,560 94,400 -2,339,210 -1,230 37,400 -914,545 190,134,472 60,737 4,600 6,860 14,650 -17,420 4,621,828 -1,230 -119,600 -407,370 17,700 -68,280 3,533,744 -20,815,020 10,986,311 -2,321,196 -398,460 -14,280,415 9,940 -61,380 -234,490 -30,050 -69,380 -217,259 31,000 258,580 8,640,280 349,750.00 57,335,183 1,640,611 40,899,285 337,915 -140,000 -6,960

SMALL & MEDIUM ENTERPRISES

ALTUS PROP HAUS TALK ITALPINAS MERRYMART XURPAS

16.6 0.98 1.06 2.29 0.405

17.34 0.99 1.08 2.3 0.415

EXHANGE TRADE FUNDS

FIRST METRO ETF

112.2

112.5

16.5 0.98 1.06 2.19 0.41

17.36 1 1.08 2.32 0.415

16.5 0.98 1.04 2.19 0.395

16.54 0.99 1.07 2.29 0.415

7,300 999,000 361,000 4,201,000 980,000

121,332 981,560 384,950 9,558,850 395,800

-53,000 -21,000 16,720 3,308 836,050 90,800

111.3 112.2 111 112.2 6,640 741,788 43,520

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LandBank re-opens Marawi branch

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OV E R N M E N T- owned Land Bank of the Philippines reported on Thursday that it has re-opened its branch in Marawi, five years after a clash between government troops and Islamic separatists razed the city.

LandBank said the branch has reopened earlier this year and will be serving the banking needs of the city’s public and private customers, as well as the 37 neighboring municipalities in the area.

Previously located at the C&D Centerpoint, Quezon Avenue in Marawi City, the LandBank Marawi branch was left devastated during the armed conflict between militants and government security forces in 2017.

To continuously serve its customers while government troops conducted clearing operations in the area, the LandBank Marawi Branch temporarily relocated to a shared office space with the LandBank Iligan City Branch in May 2017.

After the military ascertained the safety of the bank’s personnel, the Marawi branch resumed its automated teller machine (ATM) operations and activated two offsite ATMs in Marawi City in August 2017. The branch later moved to its temporary site at the Sultanate Building, New Capitol Complex, Marawi City, which was under a lease agreement with the Provincial Government of Lanao del Sur. In 2018, the bank was offered a 20-year usufruct agreement by the Mindanao State University (MSU) for the branch’s permanent site, which officially reopened three years later in January 2022.

“LandBank is one with the people of Marawi City. Through our reopened Branch, we are ready to finance the development and rehabilitation requirements of the city and nearby municipalities to advance recovery and build more resilient communities,” LandBank President and CEO Cecilia C. Borromeo said.

LandBank said it has extended P2.7 billion in loans to the Provincial Government of Lanao del Sur since 2004 for various infrastructure and developmental projects.

The loans were allocated for the upgrading and concreting of major roads, acquisition of heavy equipment, and the construction of a sports complex, a new capitol complex, provincial hospital building, water system and river wall.

Bianca Cuaresma

Banking&Finance BusinessMirror

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BSP backs laws for finance sector reforms

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By Bianca Cuaresma

@BcuaresmaBM

angko Sentral ng Pilipinas (BSP) governor Benjamin E. Diokno said the BSP will continue to work closely with Congress, government agencies and relevant stakeholders on key legislative reforms.

Diokno identified seven key legislative measures that they seek to monitor and push for this year.

“The seven BSP-supported bills include measures taken up by the 18th Congress,” Diokno said. “These reforms aim to strengthen the Philippine financial system, promote financial inclusion, enhance the delivery of financial services, address issues experienced by the public when using financial products and services and support economic recovery and growth.”

The Senate has approved on third

and final reading the following measures: Financial Consumer Protection Act (FCPA); Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022 (Agri-Agra bill); and, the Amendments to the Philippine Deposit Insurance Corporation (PDIC) Charter.

The Senate is now preparing the enrolled bills for the FCPA and the PDIC Charter Amendments for the signature of President Rodrigo Roa Duterte, while the Agri-Agra bill is awaiting a bicameral conference.

Meanwhile, the House of Representatives has approved on third and final reading the Use of Digital Payments Act of 2022 (Digital Payments bill) and the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery Act (Guide bill).

The Senate is currently deliberating on these measures. “The BSP will continuously provide technical input for bills relevant to the fulfillment of its mandates and sustainable economic growth,” Diokno said.

Singaporean firm launches online ‘quick-commerce’ platform

By VG Cabuag

@villygc

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KPH Technologies Pte. Ltd. of Singapore, the company behind the MyKuya mobile application (app), has launched another app that allows users to shop online from a specific shopping mall, which will use a personal assistant they can chat or call online.

The service called “MyMall” is the country’s first quick-commerce platform, the company claims.

According to MKPH, the service currently has a limit of 15 kilograms of shopping and only has service in some 39 malls in Metro Manila.

The company said it will expand to other locations depending on users’ response to its new service that is now online.

MKPH Co-Founder Shahab Shabibi said the service promises buying from an unlimited number of stores and brands in the mall upon payment of a standard fee of P79.

The personal shopper hired by the company will do the shopping for the customer and then hands the goods over to the delivery rider. The latter will charge another fee depending on the location of the customer.

“We want you to use our service,” Shabibi said. “We want you to challenge us.”

Payment will be done within the platform through Visa, Mastercard, Gcash or Paymaya.

After purchase, users can specify

Meaningful Virtual Networking

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ASED on many membership survey results I have read over the years, offering networking opportunities always ranks as one of the three top benefits an association can provide its members.

In today’s environment where events are usually held in virtual platforms, networking sessions have become challenging to organize and manage for most associations. This prompted Matchbox Virtual Media’s CEO Arianna Rehak and Kaiser Insights LLC’s Amanda Kaiser to team up and put together a “Virtual Networking Incubator” with a super-engaged group of over 150 powerhouse association professionals to explore the future of virtual networking.

Over the course of two-and-a-half months, the group empathized, experimented, ideated, and tested diverse platforms and methods. It also developed new networking strategies for virtual and in-person events. The results of this networking incubator were shared in a recent webinar organized by the Australia-based Answers for Association entitled “Enabling Meaningful Human Connections with Networking Events of the Future.” My key takeaways from Amanda’s presentation: 1. Focus on the emotional side and not only on the logical aspect.

Usually, associations focus networking events from the logical standpoint such as sharing ideas, identifying solutions, spotting trends or discovering vendors/sponsors. However,

Association World Octavio Peralta equally essential is to cover the emotional side such as making friends, having a feeling of belongingness, getting emotional support, or normalizing experiences. This is similar, in a way, to how the human’s left and right brain sides function.

2. Consider these three kinds of virtual networking dynamics: connectedness with the larger community; solving a problem; and, identifying people to connect with.

New members often have a sense of connection to the community even though they don’t know many people there yet. It’s that feeling you get when you hear the first speaker at a conference and know you’ve found your peers. This same effect can happen also in the virtual world.

Members have problems as professions and industries do, too. Virtual networking events can be the perfect place for solving a problem, big or small. Hosting a “solve” event, for example, can be one.

Members may want to talk to someone who is one step ahead, to commiserate with someone who ex-

perienced the same thing or, to connect with someone like-minded. Virtual networking can help members identify these people to connect with.

3. Consider also these three building blocks of great networking: creating a safe space; communicating in a new tone; and, planning structure variations.

The moment people sense they are in a safe space, they wholeheartedly participate. Being in a safe and trusting community means showing kindness, empathy, listening, nonjudgment, openness, compassion, respectfulness, vulnerability, curiosity, and supportiveness.

Many organizations are using a more conversational, uber-enthusiastic, and super friendly tone in their communications. They do this because it’s fun and engaging. Striking just the right tone can help your members feel more comfortable before they even log into your event.

Structure is important for all types of virtual networking events. It helps participants know what to do and eliminates awkward times. Guiding participants through a whole event of fun, fast, exciting activities where they can have meaningful conversations, will enable them to serendipitously meet the people they need to meet.

Octavio Peralta is currently the executive director of the Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” E-mail: bobby@pcaae.org.

Isko vows to condone farmers’ amortization

F elected president, Aksyon Demokratiko Standard-bearer Isko Moreno Domagoso has vowed to prioritize the passage of a measure condoning the loans of agrarian reform beneficiaries (ARBs) from the Land Bank of the Philippines as part of his government’s efforts to support and protect Filipino farmers and ensure Philippine food security.

“Gagawin kong batas ’yung proposed measure ni Senator Ralph Recto na ’yung condonation ng amortization, penalties and surcharges ng ating magsasaka na benepisaryo ng CARP [Comprehensive Agrarian Reform Program],” Moreno said during the Radio Veritas Catholic E-Forum last Monday. [I will make into law the proposed measure of Senator Ralph G. Recto, which is the condonation of amortization, penalties and surcharges of our farmers who are beneficiaries of CARP.] “Para magkaroon na ng sense of ownership ’yung ating mga magsasaka, na yung lupa nila ay kanila na. Sa hirap ng buhay, hindi na nababayaran, nababaon pa sila sa interest at surcharges.”

The 47-year-old presidential candidate said condoning the total amount of land reform loans is a small amount compared to the hundreds of billions of pesos lost to corruption every year.

“It only costs about P75 billion. Any-

Editor: Dennis D. Estopace • Friday, March 4, 2022

way, lista sa tubig lang naman yan. Ang may ari ng pera is the Land Bank of the Philippines, which is a government-owned and controlled corporation (GOCC). Eh hindi naman kaila sa atin, nawawalan tayo ng P700 billion every year dahil sa corruption,” the Manila City mayor pointed out.

Moreno also made the same assurance Sunday during CNN Philippines’ Presidential Debates at the University of Santo Tomas when asked how he intends to balance the interest of consumers and that of the manufacturing and agriculture sectors.

“Nakita ninyo, kung tayo’y nagparaya, di may pag-aari na yung ating mga magsasaka na lupa, kanila na. Then pagyayabungin lang nila yon, palalakasin lang nila yon.

Then papasok ang LandBank and government financial institutions para sila bigyan ng ayuda na kung saan makapagtanin sila katulad ng mga bagay na kinakain natin, ginagamit natin araw-araw nang hindi tayo nag-iimport,” he said.

Under Recto’s proposed Senate Bill 268, all unpaid amortizations, interest, penalties and surcharges on loans secured

by ARBs under CARP will be written-off.

Once this mass amnesty of farmer’s obligations is approved by law, “the agrarian reform beneficiaries shall be deemed rightful owners of the lands awarded to them.”

“This is one Covid-response measure worth approving. If greater food production is what we should be doing to cushion the economic impact of the pandemic, then it is an incentive for those who feed us all. Emancipation from debt is what they also need,” Recto said in pushing for the passage of SB 268.

Agriculture is one of the main pillars of Moreno’s 10-point “Bilis Kilos Economic Agenda,” which is his administration’s blueprint to accelerate human and economic growth once elected.

Besides giving ARBs rightful ownership of the lands awarded to them, Moreno said among the first economic policies that his government will introduce is to cut the excise tax of petroleum products by 50 percent to bring down the cost of food production, especially rice, raise the income of farmers and fisherfolk, bring down the prices basic commodities and sustain food production.

In the same manner, he said that a 50-percent tax cut on electricity would mean more food on the table and more money to spend on basic needs, including medicines.

Furthermore, Moreno said his administration will buy the surplus produce of farmers at the right price to assure them of their income and help

them rise from poverty.

To further assure farmers of their income, he will also issue clear guidelines about the strict importation of agricultural products to make sure that local producers can sell their products first before importation is made.

The presidential bet also vowed to clamp down on smuggling of agriculture products to protect the interests of local producers, and to guarantee that no products will come into the country illegally and of inferior quality.

Moreno also assured Filipino fishermen unimpeded fishing in abundant fishing grounds within our sovereign territory, particularly in the West Philippine Sea. Additional support to the agriculture sector includes providing risk-free capitals to farmers and fishermen; building more irrigation systems while improving the efficiency of existing ones; establishment of cold storage facilities across the country and in major production areas; and establishing the Department of Fisheries and Aquatic Resources, among others.

Moreno said government will also lead the effort for farmers to adopt new technologies to further increase their productivity, and help them connect with reputable businessmen for their products.

when they want their items delivered. They can have it sent instantly right after the shopping is done, or they can have it scheduled for later in the day when the user gets home from work.

“In one go, you can have a few groceries, and that bubble tea you’ve been craving for, picked up and brought straight to you. It’s really as if you went to the mall yourself, except you’re doing it from the comfort of your own home,” Shabibi said.

Mymall said its users benefit from the company’s partnerships with a variety of mall operators. Users are not limited to specific stores but have the freedom to pick their favorite mall and shop from any store within.

Users are then instantly matched with a shopper, send their shopping list and the shopper will then get items from as many stores as needed. Users can call, text, or even video call their shopper to get regular updates.

Eternal Plans fast-tracks recovery as IC puts it under conservatorship

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HE Insurance Commission (IC) has ordered Eternal Plans Inc. (EPI) to be placed under conservatorship beginning January 2022, citing its failure to comply with a directive to fill the cash deficiency in its 2018 Trust Fund as required under the PreNeed Code of the Philippines.

IC Commissioner Dennis B. Funa signed the conservatorship order against EPI on January 20, 2022, citing as reason the company’s “continuing inability or unwillingness to comply with the Order of the Commission pursuant to Section 49 of the Pre-Need Code (Republic Act or RA 9829).”

Funa named John A. Apatan, the division manager of the IC’s Conservatorship, Receivership and Liquidation Division, as exofficio conservator for the EPI. The company, in a statement, vowed to fast-track its rehabilitation, having submitted a plan to regulators.

For four decades, EPI said it has remained committed to its mission and service to planholders has always been a priority.

“We have lived up to our commitments and we will continue delivering the promised benefits,” stressed EPI President and COO Elmer M. Lorica.

“Eternal Plans made a substantial deposit to the trust fund in the amount of P200 million and manifested to the Insurance Commission its desire to go on a supervised rehabilitation after the non-cash contributions were declined. The company desired to address the remaining deposit balance and address in particular the issue of the asset-liability mismatch for the ‘old basket’ of plans.

The company believes that supervised rehabilitation will provide an enabling environment that will fast-track the implementation of its recovery plan,” EPI’s statement added.

Funa had noted, in a report to Finance Secretary Carlos G. Dominguez III on January 31, 2022, that the “required Trust Fund deficiency remains deficient.”

The IC had directed EPI to infuse cash into its Trust Fund within five days from the receipt of the IC’s letter dated November 18, 2021. The EPI then made the deposit of P200 million into the trust fund.

The IC wrote EPI in December directing it to further fill up the

deficiency with cash.

Funa told Dominguez in January that EPI had asked for regulatory reprieve with an additional request to undergo rehabilitation after failing to meet the IC’s deadline to make a cash infusion sufficient to fill its Trust Fund deficiency.

“We find this request consistent with the regime of conservatorship. Hence, the case of the company falls under the conservatorship process under the Insurance Code,” Funa said in his report to Dominguez.

IC said EPI’s previous non-cash contributions were provisionally approved with the condition to sell the same within one year, or to replace the same with cash if the said assets remain unsold after the given period.

Funa said the IC also made it clear to EPI that non-cash contributions cannot be accepted as the Pre-Need Code requires that deposits to the trust fund should always refer to cash.

Fast-track recovery

WHILE vowing to fast-track recovery under the plan it crafted, EPI noted the debacle faced by most preneed firms.

Preneed plans sold before the passage of the Pre-need Code of the Philippines, dubbed the “old basket of plans” have double-digit growth rates that current investment portfolio cannot sustain, it said.

To address the fund shortage, pre-need plan companies have to contribute yearly to fill the gap.

This out-of-pocket contribution adversely affected all pre-need plan companies, causing a lot of them to fold; despite the financial difficulties, Eternal Plans said it continues to deliver the plan benefits.

With the Covid-19 pandemic, tens of thousands of companies closed and investments are at their lowest. Lorica added: “We have the resources, and we want to maximize earnings on alternative investments because traditional investments are not earning and even in some cases at a loss.”

EPI stressed it is “is one with the Insurance Commission in protecting the interests of its planholders. The company assures the planholders that we will come out stronger from these financial difficulties within a short period of time.”

B4

Friday, March 4, 2022 • Editor: Gerard S. Ramos

Relationships BusinessMirror

Can we pick up where we left off in 2019?

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Chaz Bono, 53; Patricia Heaton, 64; Mykelti Williamson, 65; Catherine O’Hara, 68.

HAPPY BIRTHDAY: A pragmatic approach to running your life will help you avoid emotional interference. Show concern for others, but put yourself first. It’s important to protect your interests and follow through with your plans. Don’t feel you have to follow the crowd or please others at your expense. Follow your heart, and take responsibility for your happiness. Your numbers are 5, 16, 21, 24, 33, 40, 42.

ARIES (March 21-April 19): Think and plan before you act. Keep the peace, control your emotions and do whatever it takes to proceed with a positive attitude. How you conduct business and your relationships with others will impact what comes next. Honesty and integrity count. HHH

TAURUS (April 20-May 20): Don’t let uncertainty set in when action is required.

Round up all your choices and possibilities and picture the outcome. Don’t limit what you can do by disengaging from talks and negotiations. Participation is necessary if you want to excel. HHH

W

ITH many parts of the country returning to Alert Level 1 (AL 1) on March 1, we are trying to pick up from where we left off in December 2019... that is, normal everyday living.

People are now out in the malls, with their kids tagging along. A piece by a TV news network showed the indoor playground in one Quezon City mall already revved up, its merry-go round ready for the tiny ones.

Personally, after two long years in this Covid-19 world, everyone should have all learned by now that we all need fresh air, especially children, not cooled air in confined spaces.

I hope parents try their neighborhood parks, or—even better—Luneta and Intramuros for pasyal with the kiddies.

But now, parents don’t have any reason to oppose the reopening of schools. If they can bring their kids malling on weekdays, there’s no reason the little ones can’t attend faceto-face classes, right? Just mask up and wash those tiny hands with soap and water always. (And no picking of the nose.)

Many government agencies have required all their employees to return to work, physically at the office, while there are still a few private companies still practicing some form of work-from-home setup. So, generally, people are back to their brick-and-mortar offices—thus, explaining the massive traffic buildup.

While the Metropolitan Manila Development Authority has yet to decide if it would bring back the number-coding scheme for vehicles under AL 1, the Makati City government has just announced it would reinstate the traffic control measure starting March 16.

Of course, I have slowly ventured out of the apartment for brief trips to the supermarket or drug store even before AL 1.

What I found a bit daunting, although in the end it was worth the effort, was getting a relaxing spa treatment finally in the metro. Prior to the pandemic, I would submit myself fairly regularly (maybe once every quarter) to a spa for even just a 60-minute body massage. So, imagine having to live with all the aches and pains this pandemic has wrought on me for two years. Which is like five years in actuality.

So given the chance, I tried out Conrad Manila’s “Rhythm and Harmony” Apricus Wellness treatment at its in-house spa, which, honestly, I no longer remember when I last visited. But stepping out of the elevator and walking into its hushed environs, it felt like coming home and being comforted—a promise that all my stresses and concerns would be eased. (For inquiries, contact 833-9999 or conradmanila@conradhotels.com.)

GEMINI (May 21-June 20): Ask someone you trust to discuss confusing details. Getting a different perspective on what you can do will help you come to terms with what’s possible. Live within your means and follow through. Avoid rash people and temptation. HHHH

CANCER (June 21-July 22): Bypass an emotional confrontation. Do something creative by expanding your interests and outlook. Share your dreams with someone you love or look up to. You will get helpful feedback and encouragement. Romance and personal improvements are favored. HH

I received the two-hour treatment, which was meant to balance my microbiome, and energize my body and mind.

Micro...what, you ask. The “microbiome,” as was explained to me, consists of the microorganisms, bacteria, fungus, virus, and other microscopic entities that live in and on the body.

While that may sound scary, each of these microorganisms are actually beneficial to our bodies.

“The bacteria in the microbiome help digest our food, regulate our immune system, protect against other bacteria that cause disease, and produce vitamins including B vitamins B12, thiamine and riboflavin, and Vitamin K, which is needed for blood coagulation,” according to a briefer by the University of Washington (UW).

However, a dysfunction in the microbiome may lead to illness. “Disease-causing microbes accumulate over time, changing gene activity and metabolic processes and resulting in an abnormal immune response against substances and tissues normally present in the body,” the UW briefer added.

This can lead to medical conditions diabetes, rheumatoid arthritis, muscular dystrophy, multiple sclerosis, and fibromyalgia.

The first part of the treatment included a Dead Sea salt scrub, which helps get rid of dead skin cells, and a microbiome-balancing full-body collagen therapy. This was followed by a therapeutic immunity boosting oil bath with transdermal microbiome alginated therapy. In this part, I stepped into a tub full of flowers and fruits, as the therapists put herbs on my body. They left me for about 20 minutes, as I closed my eyes, and tried to relax in the water. I sluiced the

sliced oranges on my skin, breathing in the citrusy smell of wellness.

The Full Body Transdermal Human Microbiome Targeted Therapy is the only transdermal human microbiome therapy in the Philipppines, I am told. It improves the body’s metabolic rate and strengthens the immune defense system.

This signature treatment is a natural healing therapy that aids in longevity and age reversal, which is ideal for those with hormonal imbalance and autoimmune diseases. So all you pre-menopausal and menopausal women out there, along with diabetics, this treatment is for you! (Okay, us.)

As I received the full body massage, I completely blacked out. In a good way, of course. As soon as the therapists started kneading my tight shoulders and back, along with the presses on the soles of my feet, I fell asleep and snored peacefully away. I had been looking forward to a full body and mind treatment such as this, and was completely relaxed and seemingly stripped of all concerns upon awakening. I woke up with a smile on my face and actually felt myself glowing, to be honest.

My initial hesitation came from the fact the spa space is enclosed, and I would be staying in the air-conditioned room for two hours. The treatment also called for two therapists, which I felt a bit overwhelming as I was used to being around only a few people, like family and close friends. But their expert hands and the body treatments melted away my initial hesitation and opened me up to a renewed world of health wellness.

If this is the “New Normal” under AL 1, then I’m all for it. n

‘Cut and Paste,’ free collage webinar set for March A two-part workshop-webinar, Cut and Paste will be headlined by 2012 Cultural Center of the philippines (CCp) thirteen artist awardee Kaloy olavides, who will guide young artists how to overcome their fear of painting through collage art.

Hosted by the Arts and Culture Cluster of the De La Salle-College of Saint Benilde, the multimedia artist and musician will highlight how combining and forming an assemblage of different photos, clippings and small accents can serve as an ideal study and reference for aspiring artists to achieve their concepts. the Benilde School of Design and arts educator will introduce Magic Eye pictures or autostereogram,

in painting, whose rich body of art ranges from painting, installation and collage, olavides’s artist profile and works are featured in the prestigious CCp Encyclopedia of philippine art.

He has earned recognitions from the Manila art awards and the philippine art awards for his collage work The Key. Cut and Paste is free and open to the public. It will be conducted online via Zoom on March 9 and 16 at 2 pm. Each session will conclude with a question-andanswer portion as well as a collage workshop.

More information can be found at www.facebook. com/benildearts.

which creates the visual illusion of a threedimensional (3D) scene from a two-dimensional image.

He will showcase some of his personal drawings in the style, as well as the most significant works of his students from 2012 to the present. olavides will introduce the leading influences in the genre, such as the thought-provoking surrealist art collages of american artist, illustrator and cover designer winston Smith, popularly known for his artworks for the punk rock group Dead Kennedys. a graduate of the University of the philippines Diliman with a degree in Fine arts and a major

LEO (July 23-Aug. 22): Touch base with someone who offers good advice. The information you receive will help you decide whether to change your direction, living arrangements or lifestyle. Forming a partnership with someone will add stability to your life. Divvy up responsibilities. HHHHH

VIRGO (Aug. 23-Sept. 22): Take the pressure off yourself and those around you.

Take a timeout to relax or have some fun.

Showing your playful side will win points with someone you love. Don’t be afraid to share your intentions and thoughts. Romance is encouraged. HHH

LIBRA (Sept. 23-Oct. 22): Keep a watchful eye over what’s going on around you. Reach out to someone who is experiencing a tough time, and respond compassionately. Being a good listener will help you realize how someone feels about you and what they expect. HHH

SCORPIO (Oct. 23-Nov. 21): Connect with friends and catch up. The information you receive will help you figure out what to do next. A change of plans will convince you to follow a path you prefer. Explore the possibilities, and start something new. Love is favored. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Spend more time at home. Fixing your surroundings to suit your needs will spark your imagination and push you in an informative and life-changing direction.

Don’t let an outsider interfere with your plans. Follow your heart, and do what’s best for you. HHHHH

CAPRICORN (Dec. 22-Jan. 19): Initiate your plans and keep moving forward. Refuse to let an emotional incident fester or slow your progress.

Distance yourself from people who tend to overreact or bring you down. Be positive and embrace what life has to offer. HH

AQUARIUS (Jan. 20-Feb. 18): Rethink your long-term strategy; you’ll discover what you want to pursue. Don’t follow anyone; it’s time to please yourself. Set guidelines to help you reach your goal, regardless of what others do or say. Take responsibility for your happiness. HHHH

PISCES (Feb. 19-March 20): Know what you are up against before you engage in something that has emotional consequences.

Explain your position, what you have to offer and what you want to happen. Honesty is the best policy, regardless of what others do or say. HHH BIRTHDAY BABY: You are abstract, patient and steadfast.

You are questioning and humorous.

‘crunch time’ BY ADRIAN JOHNSON The Universal Crossword/Edited by David Steinberg

ACROSS 1 Pass out cards 5 Dells, e.g.

8 Perfume compound 13 Start of a texter’s view 14 Paper purchase 15 Word after “toy” or “candy” 16 Parting words at mass (In this clue’s answer, unscramble letters 4-8) 18 Game with resources 19 Amorphous lump 20 In the manner of 22 Stop playing, or a “stop playing” symbol 23 Widely known individuals (...letters 7-12) 27 Honda Civic or Hyundai Ioniq 28 Conservationist’s prefix 29 Jaden, to Will Smith 30 Mosque leader 32 Foldaway beds 35 Fancy country home 39 Stress-free laundry machine (...letters 9-14) 42 “Rigoletto,” e.g.

43 Brown quickly

44 45 47 49

House overhang National Mall tree The “it” in “It’s on me,” often Body of water that sounds like a letter 50 Government-funded medical center (...letters 5-13) 56 Home of the Hindu Kush mountains 57 Note before la 58 WNBA player, e.g.

59 Totaled, as a bill 61 Hiking snack found in 16-, 23-, 39and 50-Across?

66 Goaded (on) 67 “When will I ___ learn?”

68 Mini golfer’s hold 69 Tractor maker 70 Color on Peru’s flag 71 Strategic partner DOWN 1 Excavate 2 Punk offshoot 3 Tuna in poke 4 Sound of confusion?

5 Split ___ soup 6 Chocolate source

7 8 9 10 11 12 14 17 21 23 24 25 26 27 31 33 34 36 37 38 40 41 46 48 50 51

Get a whiff of Top-left key Chinese spice named for its shape Sacred emblem Wipe away Monopoly payments “Friday” singer Black FX show about drag ball culture Spots on a screen, say?

Overplay, as a role Speak grandiloquently Owl sounds Celestial flare-up “I’m outta here!”

“I’ll tell you the rest in a bit” 20-20, e.g.

Improvises at the mic Tibet’s “Forbidden City” Video game stage ___ code (phone number part) Timbuktu’s land Candy bar discard Rap battle VIPs Satanic nightjar or nightingale Whittled (down) Utility bill datum

52 53 54 55 60 62 63 64 65

Spree Base-clearing hit Yellowish green South Pacific kingdom Praise-filled poem Crossed (out) www.aclu.org, for one No later than, in brief Intel worker?

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Friday, March 4, 2022

A not-so funny ‘Funny Girl’ and other random cinematic thoughts GMA ROLLS OUT DIGITAL VOTERS’ EDUCATION SERIES

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OOK who’s here! It’s Funny Girl!

That was my reaction while surfing the film list on Netflix. Personal, familiar. It felt like seeing an old friend. It wasn’t just a film; it was a film I watched without knowing who the funny girl was. The lead, Barbra Streisand, was a veritable unknown among audiences when the film was released.

I believe it was in 1969 or thereabouts when the film came to our city. It was then a hilarious film with lovely melodies interspersed in between the dialogues. It helped a lot that my generation was exposed to films where characters suddenly burst into songs. However, from the late 1960s onward, musicals had lost their magic. We were bookended by the froth and fluff of The Sound of Music, released in 1965 (Pauline Kael called the film “the sugarcoated lie that people seem to want to eat” and “the single most repressive influence on artistic freedom in movies”), and Cabaret plus Lady Sings the Blues, both coming out in 1972. The last two films reintroduced the musical genre as a form that could confront the dark sides of society. No more would be the candy- and pastel colored world where happiness was lurking always around ready to banish even the most convoluted of conflicts.

Cabaret, with Liza Minnelli, was about, to use her character Sally Bowles’s words, divine decadence. The setting was Berlin before the rise of the Nazis. Bob Fosse’s choreography was risqué and the denizens of the nightclub where most of the showstopper songs took place reeked of dank sexuality and the coupling in the films involved persons with fluid genders. Lady Sings the Blues, on the one hand, was about a jazz giant, Billie Holiday, her music and her drug-addiction.

Unforgiving, the film bio left the audience not with the memory of the singer’s style but her fall.

Funny Girl was almost an anomaly and Barbra made use of her own original charm and physical features. But did the people then catch the humor in that American beauty rose and the American beauty nose? Were we even conscious of the Jewishness of the film, traits that would form the base for the humor of many wonderful 197os films and literatures?

But Pauline Kael, my favorite film critic, liked Funny Girl and wrote: “It has been commonly said that the musical Funny Girl was a comfort to people because it carried the message that you do not need to be pretty to succeed. That is nonsense; the ‘message’ of Barbra Streisand in Funny Girl is that talent is beauty.”

Who knew about Fanny Brice? The film was based on the life of this star from the 1910s to 1930s. She did not become as big as Sophie Tucker, and not as controversial, as Tucker was hauled to jail for singing “obscene” songs. This was both a boon and bane for those who loved the film: bane because there was no recall of the person now being immortalized onscreen; boon, for Streisand who became Fanny Brice altogether to her fans.

Viewing the film presently creates a lot of mixed feelings. There is the production design, which is

BARBRA STREISAND (right) and Omar Sharif in Funny Girl.

very much late 1960s and early 1970s, fashion and all.

I bet when women from the age of 60 up would watch the film again, they would not recall the tumultuous 1910s and the roaring 20s but the mode of dressing and accessorizing when they attended parties and balls then.

There is the casting, too. Was Omar Sharif so popular he had to be Nicky Arnstein, the gambler who became Fanny Brice’s husband who was also a con man? The Egyptian actor was deemed perfect, when he played an Arab opposite Peter O’Toole in Lawrence of Arabia. He would win awards for it. It is said he so impressed the director David Lean in this film that he cast Sharif as a Russian in Dr. Zhivago. Around the time Funny Girl was made, the actor was the Mongol emperor in Genghis Khan (1965) and the Cuban revolutionary in Che (1969). What escaped me and, I assume, many fans then, was the controversial kiss between Sharif, an Arab, to Streisand, a Jew, onscreen with the backdrop of the Israeli-Egyptian Six Day War that occurred in 1967.

How do I value Barbra and Funny Girl now?

Whether she was approximating the broad comedic gestures of Fanny Brice or developing her own approach to building a character, the tragicomic person onscreen came across to me as camp. The affectations would mark Streisand in her future outings. Susan Sontag’s Notes on Camp came out in 1964, a few years before Funny Girl, but no one it

seemed pointed this trait about the film and the lead actress. And for Sontag, camp is when everything— the artifice, theatricality, etc.—is bracketed in quotation marks.

The pull-out-all-the-stops number “Don’t Rain on My Parade” happens in the middle of the film, bringing the scene to a rousing mid-section finish, and somewhat flash-forwards that ship scene in Yentl where Streisand’s character sings “Piece of Sky.” The song “People” still manages to steal my heart for a few minutes. Staged with dialogues breaking the song at the middle, and continuing after Nicky bids goodbye to Fanny, the song remains a gem. The film would end with Brice’s hit, “My Man,” later transformed into a dirge in the 1930s by Billie Holiday. That scene comes across as detached from the narrative.

Funny Girl is directed by William Wyler, who helmed Jezebel and Ben-Hur, among other classics.

Barbra Streisand would win the 1969 Oscar for Best Actress in an unprecedented tie with Katharine Hepburn (as Eleanor of Aquitaine for The Lion in Winter), with both actresses receiving, according to documents, 3,030 votes each. Streisand received it alone because Hepburn, by tradition, never attended the Oscars until she was asked to present the Irving Thalberg Award to a producer in 1974.

In 2016, Funny Girl was declared “culturally, historically, or aesthetically significant” by the United States Library of Congress. n

A FEW months before the country selects its next set of leaders, GMA News and Public Affairs Digital Media takes electoral literacy to another level as it rolls out its voters’ education campaign, billed as #eLeksyonSerye.

With more than 172 million followers across popular social-media platforms, GMA News and Public Affairs utilizes a multimedia approach to equip voters with the right information for the upcoming Eleksyon 2022.

“This digital effort continues our commitment to the ‘Dapat Totoo’ campaign for Eleksyon 2022, in line with our goal of empowering Filipino voters to choose the right leaders that will chart the future of our country at this critical juncture in history,” said Marissa L. Flores, senior vice president for GMA News and Public Affairs.

For its maiden season, #eLeksyonSerye kicks off with “#eLeksyon2022 Quiz.” Using Facebook and Instagram filters powered by GMA New Media Inc. and fun duets on TikTok, the #eLeksyon2022 Quiz challenges netizens about their actual knowledge on elections. How well do they know their rights and their responsibilities as voters? How familiar are they about the country’s political system? Their score will determine if they are indeed #Eleksyon2022 ready.

To make it more exciting and engaging, GMA News reporters, public affairs hosts, radio personalities, and celebrities are joining the challenge as well. The #eLeksyon2022 Quiz is also available on GMA News Online (bit.ly/3K6rBtG).

The largest news creator on TikTok Philippines, GMA Public Affairs leverages on its huge following to deliver facts in a fun, digestible manner. Partnering with TikTok, one of the fastest-growing social-media platforms, the #eLeksyonSerye: Voters’ Education Series puts the spotlight on misinformation and disinformation, spotting fake news, and responsible social-media usage.

In 2021, GMA News and Public Affairs became the largest news creator on TikTok in the Philippines. As of February 28, its TikTok accounts have reached a total of 1.7 billion views with over 90 million cumulative likes. GMA Public Affairs alone has over 2.5 million followers, 27.9 million likes, and 471 million total views. GMA News, on the other hand, already has over 824,000 followers, with 9.3 million likes and over 222 million views.

“The campaign showcases our innovation and reach on digital platforms. We engage users in a fun way while underscoring the main purpose of our elections: choosing leaders who will come up with meaningful policies that will affect the lives of every Filipino,” said Jaemark Tordecilla, senior assistant vice president for GMA News and Public Affairs Digital Media.

More information can be found at www.gmanetwork.com and www.gtv.ph.

This Star continues to create magic THE virtue of loyalty is what prompted Filipino music icons Regine Velasquez-Alcasid and Gary Valenciano and stars Zanjoe Marudo, Erich Gonzales, Jake Cuenca, Jolina Magdangal, Loisa Andalio, Ronnie Alonte, Sam Milby, Shaina Magdayao and Gerald Anderson to remain as Kapamilyas as they all signed new contracts with the network.

“I’m very happy and very excited and very proud.

That’s how I feel. I mean, after the things that the network has been through, all of us, after all we’ve been through, parang I just feel [happy] to be called a Kapamilya,” said Regine during the network contractsigning held in ABS-CBN’s Studio 10, the first part of the Kapamilya Strong 2022 back-to-back events that culminated with the announcement of Star Magic’s year-long 30th anniversary celebration.

Regine is currently a guest host in Magandang Buhay apart from being a mainstay of ASAP Natin ’To with Gary. Gary also shared his thoughts about being a Kapamilya. “’Pag sinabing Kapamilya, we are there for each other.... Kahit na may mga ibang pagsubok na dumadapo sa isang pamilya, the fact is you are still a family. It’s a dynamic ng isang pamilya. Minsan may good times, minsan may hard times, but in the end nakikita mo ’yung value ng isa’t isa, value sa isa’t isa, and you treasure that and then you carry it on.”

Their fellow ABS-CBN stars also expressed gratitude as they continue to entrust their careers to Star Magic, a leading talent agency that champions Filipino talent all over the world.

Fresh from the success of La Vida Lena, versatile actress Erich will star in the biggest dramatic project of her career that will be revealed soon. Sought-after leading man Gerald will soon star in the TV series A Family Affair and the film To Russia with Love. Jake Cuenca of Viral Scandal is part of the all-star ensemble of upcoming international series Cattleya Killer.

Reel- and real-life sweethearts Loisa and Ronnie will star in upcoming soap Love in 40 Days, while Jolina and Shaina will continue to bring joy to

viewers in Magandang Buhay and FPJ’s Ang Probinsyano, respectively.

Joining them in the grand contract-signing, which was hosted by Robi Domingo and streamed live on various Star Magic and ABS-CBN digital platforms, were ABS-CBN chairman Mark Lopez, ABS-CBN president and CEO Carlo Katigbak, ABS-CBN chief operating officer of broadcast Cory Vidanes, ABS-CBN Group CFO Rick Tan, and Star Magic and ABS-CBN entertainment production head Laurenti Dyogi.

“We are very, very proud to have been able to develop very talented artists who have the passion for global excellence, but who remain grounded and committed to serving with us, and who are driven to give the audience the most meaningful stories and engaging experiences through the years. Maraming salamat to our Star Magic artists,” said Cory, who also dedicated the celebration of Star Magic’s 30 years to the founders, mentors, partners, advertisers, comanagers, and fans.

After the signing, Lauren Dyogi shared the exciting plans they have to celebrate the 30 glorious years of talent management and development of Star Magic in the presscon with the Star Magic artists hosted by Edward Barber and MYX VJ Ai dela Cruz.

This year, Star Magic will bring its stars all over the world once again through global events in collaboration with TFC. It will also bring back the star-studded sports events, and the iconic Star Magic Ball red carpet event together with ABS-CBN’s Creative Programs Inc. Star Magic Studio will also partner with Star Cinema, Mavx Productions, and Regal Entertainment for films showcasing the talent of its stable of stars and offer more music from its formidable singers via Star Magic Records. Star Magic artists Kyle Echarri, CJ Navato, Jelay Pilones, Lara Maigue and Jed Madela also performed the agency’s latest theme song, “Tatak Star Magic,” composed by another member of the Star Magic family, the King of Philippine Acoustic Pop Nyoy Volante.

For three decades, Star Magic has served as the home and training ground to some of the biggest and brightest names in Philippine entertainment. It has provided workshops in acting, dance, art, script appreciation, styling and voice production as well as physical fitness training to develop well-rounded performers with discipline and the proper work ethic.

Star Magic artists are also encouraged to use their influence for good through supporting advocacies like those of ABS-CBN Foundation’s.

B5

B6 Friday, March 4, 2022

Eastwood Café+Bar serves up eats, feasts, and more

MPIC, ACB forge partnership for biodiversity conservation

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ETRO Pacific Investments Corporation (MPIC), the country’s leading infrastructure investment company and the ASEAN Centre for Biodiversity (ACB) have signed an agreement to collaborate towards biodiversity conservation, social development, and nature-based solutions in the ASEAN following the triple bottomline approach.

MPIC and ACB will provide the needed support for each other’s initiatives and promote the importance of mainstreaming biodiversity in core business processes.

The partnership aims to implement joint programs that communicate the values of biodiversity and ecosystem restoration.

“MPIC has always strived to go beyond providing essential services, purposefully operating our businesses with the future of both our people and our planet in mind,” says MPIC Chairman and CEO Manuel V. Pangilinan. “We acknowledge that this goal is more within reach if we have partners like ACB who share our principles and our passion to put them into action.”

Meaningful Partners in Conservation

ACB, an intergovernmental regional center with a commitment towards conservation and sustainable use of biological diversity, engages the private and various other sectors in the ASEAN in promoting collaboration among the ASEAN Member States (AMS). It plays a valuable role specifically in policy development and coordination, human and institutional capacity development, knowledge management, and strategic communication, education, and public awareness on the value of biodiversity in business and finance.

The partnership underscores MPIC and ACB’s reputable credibility in

championing biodiversity conservation in the ASEAN. Through this collaboration, both parties will zero in on protecting and restoring ecosystems, enhancing synergies to address deforestation and forest degradation, strengthening support for the conservation of coastal and marine biodiversity, promoting the value of the ASEAN region’s natural capital and advancing transformative change towards a circular economy, and enhancing investments and naturepositive contributions to biodiversity as a fundamental component of pandemic recovery and prevention.

“This partnership is a timely contribution to the call to forge and strengthen collaborations with the business sector, at the time when the world continues to discuss important steps towards living in harmony with nature through the post-2020 global biodiversity framework,” says ACB Executive Director Dr. Theresa Mundita S. Lim. “We thank the MPIC for recognizing that indeed, biodiversity is everyone’s business, and that we are all part of the solution.”

Since the signing of the Memorandum of Understanding (MOU), both MPIC and ACB have determined

areas of collaboration that each can beef up with the required help and support, including efforts such as the ASEAN Green Initiative, business and biodiversity dialogues, and the ASEAN Biodiversity Heroes Program. ACB will likewise integrate its expertise to aid Metro Pacific Investments Foundation’s (MPIF) interventions for the Tubbataha Reefs Natural Park in Palawan through its environmental flagship program, Shore It Up! (SIU).

“Through this collaborative effort, MPIC is determined to be ACB’s ally in protecting our natural ecosystems not only in the Philippines, but the entire Southeast Asia,” says MPIC Chief Finance, Risk, and Sustainability Officer Chaye A. Cabal-Revilla. “Together, we can create a wave of purpose that takes us one step closer to securing a sustainable and resilient future for us all.”

The partnership with ACB is aligned with MPIC’s efforts to contribute to the United Nations Sustainable Development Goals (SDG), particularly 13: Climate Action and 17: Partnerships for the Goals. The collaboration also intends to bolster programs under MVP’s Gabay Advocacies for a Sustainable Philippines – primarily Gabay Kalikasan.

Globe Business, TNL Tech Solutions make digital learning accessible to over 5,000 students in Valenzuela City

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OR cash-strapped Filipino students weighed down by the extra cost of remote education, Globe Business and TNL Tech Solutions forged a partnership to make digital learning more accessible and more affordable, ensuring they continue to get the quality education they deserve.

TNL Tech Solutions Corp., a local technology services investor, provider and distributor, partnered with the local government unit of Valenzuela City to provide assistance to marginalized students whose budget constraints make it difficult for them to attend online classes.

Through the partnership, TNL

provided 5,561 students with tablets that allowed them to keep up with their virtual classes. To complement these, TNL tapped Globe Business to provide them with the right connectivity and essential digital tools for all their learning needs. TNL Tech Solutions invested in Globe Business’ DIGILEARN as a SIMonly plan through the Rewards API, a prepaid mobile data that includes 10GB and predefined applications useful for online learning such as Canvas, Blackboard, Brightspace, FB Messenger, WhatsApp, Hangout, Viber, Office 365, G Suite, Course Hero, Zoom and Google Classroom.

With a bigger data allocation they can use for schoolwork, the students can fully maximize these tools, particularly Google Classroom, which was approved by the Department of Education as a learning platform in Valenzuela City.

“We are glad to be in this partnership with Globe Business who shares the same vision of quality and inclusive education for all Filipinos by giving students access to digital learning tools to help them cope with the demands of the new normal in education,” said William Namoco, Operations Manager of TNL Tech Solutions, Inc. TNL Tech Solutions has been engaging local government units nationwide for various initiatives in education and the environment.

They have also received support from various private organizations to help them implement these projects.

“Globe Business has long been an advocate of quality education for all Filipinos, and as part of our commitment to help the country achieve 21st-century learning despite challenging times, we continue to hold hands with kindred spirits like TNL to bring reliable and affordable digital tools and solutions to more educators and learners nationwide,” said KD Dizon, Head of Globe Business, MSME Group.

Discover Globe’s suite of digital tools and solutions for education at http://glbe.co/GoLearn.

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ASTWOOD Richmonde Hotel’s Café+Bar is back to serving dine-in guests with three special offerings that celebrate good food at great value!

And with options for indoor and al fresco dining, you can choose your kind of safe restaurant space.

First in the list is the long-awaited return of the daily breakfast buffet from 6am to 10am. Early risers and bacon lovers will get to relish the carefully curated and satisfying spread of well-loved favorites, not to mention unlimited bacon. At the discounted promotional rate of PhP 500 nett per person, you can start the day right and fill up on energy with flowing coffee and juice to boot!

Second is the perfect kick-off to the weekend and venue for your catch-up sessions with the gang. Eastwood Café+Bar’s Bites and Brews gives you an assortment of mouthwatering bar chow displayed at the self-serve stations, which you can pair with your brew of choice, be it coffee, beer, or cocktails. Some of the tasty grubs cooked up

by Executive Chef Victor Barangan include South American fare like Peruvian Chicken and Birria Tacos, Neopolitan pizzas, grilled sandwiches, and DIY dessert pies like peach almond, apple, and tablea smores. Bites & Brews is available every Friday and Saturday from 3pm to 10pm.

Bites and Brews Lastly, end the week with a bang as you gather the family for a luncheon feast.

Watch out as the kitchen team fires up the grill and cooks up a storm to serve up a scrumptious Pinoy-themed buffet every Sunday. From lechon to sugba and sutukil— sugba (grill), tuwa (stew) and kilaw (raw seafood in vinegar)—these buffets are sure to satisfy your comfort food cravings at a very reasonable price. The Sunday Buffet Fiesta is served every week from 11am to 2pm and is priced at only PhP 825 nett per adult and PhP 450 nett per child 6 to 12 years old, inclusive of iced tea. Toddlers 5 years old and below eat for free.

Eastwood Café+Bar is Safety Seal certified by the Department of Tourism and the Department of Trade and Industry, and strictly follows enhanced safety protocols.

For inquiries and table reservations, call +632 8570 7777 or +63 917 821 0333.

PhilHealth, OTC secure health of coop members

PHILHEALTH President and CEO Atty. Dante A. Gierran shows the signed MOUC to secure the health of transport cooperative members.

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HE Philippine Health Insurance Corporation (PhilHealth) and the Office of the Transport Cooperatives (OTC) have recently signed a Memorandum of Understanding and Cooperation to ensure the provision of health insurance coverage to the members of transportation service cooperatives (TSCs) including their qualified dependents.

PhilHealth President and CEO Atty.

Dante A. Gierran and OTC Office-in-Charge Engr. Eugene M. Pabualan led the virtual signing ceremony in Pasig City and in Quezon City respectively.

Under the agreement, the two agencies

shall collaborate to ensure that OTC members will be adequately provided with timely information on their PhilHealth benefits as well as important pertinent provisions of the Universal Health Care Law. PhilHealth also commits to facilitate the membership registration of over 610,000 TSC officers, members and employees while the OTC pledges to assist the state health insurer to heighten their members’ awareness on PhilHealth benefits and services.

Gierran acknowledged the critical role of public transportation especially at this time of the pandemic. “Napakahalaga ng inyong papel sa pagtugon sa pang araw-araw na biyahe ng ordinaryong mamamayan upang makarating sa kanilang paroroonan at mapayapa ring makauwi sa kanilang mga pamilya”, Gierran said. He further reiterated PhilHealth’s commitment not only to OTC members but to all Filipinos on their automatic inclusion into the National Health Insurance Program under the UHC. On the other hand, Pabualan committed that OTC “will ensure that Transport Service Cooperatives and their members will not only access the right information on the benefits of being PhilHealth members, but also commit to embracing the importance of securing their health protection and wellness”.

The two agencies also pledged to continuously work together and exert efforts to ensure the active participation of organizations in their respective programs such as the National Health Insurance Program, Public Utility Vehicle Modernization Program and Cooperativism.

Las Piñas City gov‘t launches“Bayanihan sa Bakunahan”

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HE Las Pinas City government launched the “Bayanihan sa Bakunahan sa Las Piñas” to ensure that all residents will receive their vaccines against coronavirus disease (COVID-19).

Mayor Imelda Aguilar said “Bayanihan sa Bakunahan sa Las Piñas” program aims to bring closer to the residents the city’s health services particularly the inoculation of COVID-19 jabs to individuals who remain unvaccinated and to those who are set to receive their booster shots.

Mayor Aguilar said 21 vaccination teams, with each team composed of four to five members and will be led by City Health Office (CHO) chief Dr. Juliana Gonzales who will act the overall head, will be dispatched in the different barangays in the city for the inoculation of COVID-19 vaccines to the residents.

The city chief executive said the vaccination teams deployed in the different barangays will also be distributing paracetamol and Vitamin C to those individuals who will receive their COVID-19 jabs.

According to Mayor Aguilar, 20 fixed posts will be set up in every barangay in the city in order for the residents to have an easy visit for their inoculation and the administering of booster shots.

The lady mayor also said there will be also a team who will conduct house-to-

house vaccination that will render their services to senior citizens and persons with disabilities (PWDs).

The program will be conducted for the whole month of March.

Meanwhile, Vice-Mayor April Aguilar said the city government wanted to ensure city residents on the importance of getting the COVID-19 jabs and booster shots through the Bakunahan program that will give them protection against the virus.

The vice-mayor said placing the National Capital Region (NCR) under Alert Level 1 also meant that all activities will be at 100 percent operational with health protection through vaccination against the virus must be administered to the city residents.

Sports BusinessMirror

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao | Friday, March 4, 2022 B7

LEADERSHIP AWARD FOR CHAIR ‘BUTCH’

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ERNEST JOHN “EJ” OBIENA says he’s asking for endorsement, not reinstatement to the national team.

OBIENA ON BID TO COMPETE: WHAT DO I STILL NEED TO DO?

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By Josef Ramos

HE athletics federation turned down Ernest John “EJ” Obiena’s request for endorsement for four major international competitions the closest of which are the World Indoor Championships in Serbia later this month.

Obiena, the Asian record holder in men’s pole vault, is appalled—and so is the Philippine Olympic Committee.

“What do I still need to do? I don’t know how far or how humble I need to be in order to get an endorsement to jump for my Philippines?” Obiena told BusinessMirror by I nternet call on Thursday.

The participation confirmation deadline for the March 18 to 20 in Belgrade is on Monday.

Obiena is trying to become the firstever full-bred Filipino to qualify in the world indoors, according to Philippine Athletics Track and Field Association (Patafa) Training director Renato Unso.

Ironically, it was Unso who signed a letter on behalf of the Patafa board denying Obiena’s request for endorsement.

The POC slammed the Patafa for denying Obiena’s request.

“Again, how many more gold medals or what more achievements does EJ need to get Patafa’s endorsement?” POC President Rep. Abraham “Bambol” Tolentino asked. “He’s the best in Asia and his numbers have been rising consistently, but still he’s bound to be denied more medals for the country.”

Obiena’s rift with the Patafa has reached the Court of Arbitration for Sport after association president Philip Ella Juico filed a complaint against the Tokyo Olympian and the POC last February 11.

The rift revolves around Obiena’s liquidation of his coach Vitaly Petrov’s salaries that evolved into the athlete’s accusation of harassment by

his national sports association.

Obiena, 26, qualified for the world indoors with his 5.81-meter gold medal-clinching leaps at the Orlen Cup last February 13 and Orlen Copernicus Cup last February 23 both in Poland.

“My 5.81m jump in my two title wins in the Orlen Cup [February 13] and the Orlen Copernicus Cup [February 23] both in Poland officially made the standard required for the 2022 World Indoor Athletics Championship and 2022 World Athletics Championship,” Obiena said in his letter to Patafa he addressed to the federation’s board. “It is also better than my 2019 SEA Games gold medal standard and the 2018 Asian Games Gold medal standard.”

The Patafa denied his request citing the non-completion of mediation procedures.

“By authority of the Patafa Board of Trustees, please be informed that the Patafa Board of Trustees will not act on your letter…pending completion of the mediation process being conducted by the Philippine Sports Commission,” the Patafa said in a letter signed by Unso.

Obiena’s letter dated February 24 also sought for his endorsements for the 31st Southeast Asian Games in Hanoi (May 12 to 23), World Championships in Eugene (Oregon, July 15 to 24) and the 19th Asian Games in Hangzhou (September 12 to 25).

“I didn’t ask for reinstatement, just endorsement for me to represent the flag,” Obiena said. “So what if mediation doesn’t end or start on Monday? A late entry is also not allowed in the world championships.”

“I still hope they will endorse me, this is not about me anymore,” the Tokyo Olympian said. “It’s about our country’s national interest. It’s not only my opportunity but the opportunity to bring home a medal. I hope they will do the right thing not for me but for the Philippines.”

FIRST-EVER Olympic gold medal amid a global pandemic, several world champions, a golden quartet in the Asian Games and regaining the overall championship of the Southeast Asian Games.

In a nutshell, they define a few of the major accomplishments William “Butch” Ramirez achieved as the man at the helm of the Philippine Sports Commission (PSC) since being re-appointed to the agency’s helm in 2016.

And as his second term as chairman of the government sports agency comes to an end, Ramirez will be honored with an Excellence in Leadership Award in the San Miguel Corp.-Philippine Sportswriters Association (SMCPSA) Annual Awards Night for his relentless support his office tendered in uplifting the state of Philippine sports to a new level.

Ramirez, who was PSC chairman for the first time in 2005 to 2009, is one of 38 awardees who will be recognized by the country’s oldest media organization during the March 14 special event presented by the Philippine Olympic Committee, PSC and Cignal TV. The gala night will be held faceto-face at the Diamond Hotel and is backed by Milo, Philippine Basketball Association, 1Pacman, Rain or Shine, ICTSI, Chooks To Go, Smart, Philippine Racing Commission and the MVP Sports Foundation.

An educator, former athletic director of Ateneo de Davao and

ex-chairman of the Davao City Sports Commission, the 71-yearold Ramirez was honored by the PSA with the Executive of the Year award in 2019 for successfully preparing the country’s hosting of the SEA Games three years ago with Team Philippines emerging overall champion for the second time since it began participating in the biennial meet in 1977.

The SEA Games overall championship was just one of several bright spots in Ramirez’s second term as PSC chairman, who works with a board of commissioners—Ramon Fernandez, Charles Maxey, Celia Kiram and Arnold Agustin.

The country bagging its breakthrough gold medal in the Olympics through weightlifter Hidilyn Diaz in Tokyo will forever be associated with Ramirez’s watch at the PSC. The Tokyo Olympics campaign goes down in memory, too, as the most productive ever in Philippine sports history with boxers Nesthy Petecio and Carlo Paalam bagging silver medals each and Eumir Marcial clinching a bronze medal to complement Diaz’s success in women’s 55 kgs division.

It was also under Ramirez’s watch that the country produced several Filipino world champions among them gymnast Carlos Yulo, golfer Yuka Saso, pool player Carlo Biado, pole vaulter EJ Obiena, bowler Krizziah Lyn Tabora and Petecio.

In the 2018 Asian Games in Indonesia, Diaz and Saso also led an all-female gold medal cast for the

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an impact on in their lives, and I’m definitely one of those people.”

The 75-year-old Krzyzewski coaches his final home game at Cameron Indoor Stadium on Saturday, fittingly against rival North Carolina. At most, he has 10 games left in a career that began with five seasons at Army followed by 42 at Duke, assuming the Blue Devils reach both next week’s Atlantic Coast Conference Tournament final in New York and the NCAA championship game in New Orleans on April 4.

Regardless of when or how the end comes, Krzyzewski’s place is unquestioned among the greatest coaches in the history of American sports. AP

PHILIPPINE Sports Commission Chairman William “Butch” Ramirez will receive the Excellence in Leadership Award.

‘Rise Up Shape Up’ on Women’s Month

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HE Philippine Sports Commission’s (PSC) “Rise Up Shape Up” web series tackles this weekend the vital role of women in sports and society during the celebration of Women’s Month.

On Saturday, the spotlight will be on the hardworking people behind successful sports programs, projects and activities, particularly Gintong Gawad 2021 “Babaeng Lider ng Isport sa Komunidad” awardee Ma. Janelyn Fundal.

Fundal is a veteran in sports education and management. Through hard work and dedication, she became an Education Supervisor for Physical Education and School Sports in La Paz, Iloilo City.

She also served as the Provincial Government Department Head for Iloilo Sports Development and Management Office in 2017.

On Sunday, the program will support International Women’s Day as it rounds up a powerful line-up of top-notch women managing the national sports associations in the country in a special feature.

“With women sports administrators comprising only a minority, their representation is all the more impactful.

Their presence is a statement that women can break gender bias as sports is a maledominated area, and women often have to deal with the glass ceiling,” PSC Women in Sports Oversight Commissioner Celia Kiram said, referring to this year’s International Women’s Day theme #BreakTheBias.

Retirement looms, but Coach K’s legacy in basketball built to last IKE KRZYZEWSKI’S unparalleled coaching career is down to a few basketball games, with no more than a month left before the retiring Duke Hall of Famer walks off the sideline for the last time.

His influence on the sport will remain long past that final farewell. The fingerprints of the man known simply as “Coach K” are all over the highest levels of the game as he winds down his nearly five-decade head-coaching career.

Nearly two dozen of his former players currently are on National Basketball Association (NBA) rosters.

Another dozen or so are coaching or working for NBA teams. There are others who lead their own Division I college programs. And some of the NBA’s biggest stars of the past two decades have won Olympic gold medals under his direction.

“He’s got a small army of people that are working in basketball that believe in his values and things that he felt were important,” said Arizona State coach Bobby Hurley, the point guard on Krzyzewski’s first two NCAA championship teams in 1991 and 1992. “That’s regardless of whether you coached with him or if you were a player, because they’ll have such incredible experiences and memories of things that he did that you still use in your own situations.

“His legacy is going to continue to grow through others that he’s had

Philippines, which produced its best medal tally in the quadrennial showpiece since 2006.

Saso won the gold in lady’s individual golf and added another in the team event along with Bianca Pagdanganan and Lois Kaye Go, while Diaz and Margielyn Didal accounted for the two others in weightlifting and skateboarding, respectively.

Actually, just two months since Ramirez returned to his PSC post, Diaz clinched the country’s first Olympic silver in 20 years in the 2016 Rio De Janeiro Games, setting the tone for what would be a truly magical ride along the way for the sports official from Davao.

Even when the chips were down, Ramirez rose to the occasion and managed to steer the agency in one of the most difficult times in history after the PSC suffered a financial crisis from the national budget amid the Covid-19 pandemic.

Also to Ramirez’s credit were the revival of the Philippine Sports Institute, the establishment of the National Training Center in the provinces, intensified grassroots sports development program among local government units and strengthening the partnerships among the PSC, POC, national sports associations and sports stakeholders.

SWITZERLAND’S Hans Burgener throws a rock during a wheelchair curling practice session on Thursday at the 2022 Winter Paralympics in Beijing. The Games open Friday. AP MIKE KRZYZEWSKI’S fingerprints are all over the highest levels of the game as he winds down his nearly five-decade head-coaching career. AP

RUSSIANS OUT OF PARALYMPICS I

N a stunning reversal, Russian and Belarusian athletes have been banned from the Winter Paralympic Games for their countries’ roles in the war in Ukraine, the International Paralympic Committee (IPC) said Thursday in Beijing.

The about-face comes less than 24 hours after the IPC on Wednesday announced it would allow Russian and Belarusian athletes to compete when the Games open on Friday, but only as neutral athletes with colors, flags and other national symbols removed.

The IPC received immediate criticism for its initial decision. It was termed a betrayal that sent the wrong message to Russia’s leadership. The IPC also said it was evident that many athletes would refuse to compete against Russians or Belarusians, creating chaos for the Paralympics

and damaging the reputation.

IPC President Andrew Parsons, in announcing the initial measures Wednesday in a Beijing news conference, sympathized openly with the Ukrainian people but said his actions were constrained by his organization’s rules and the fear of legal action.

Parsons said almost the opposite in announcing his reversal, noting his constituents had pushed back.

“In the last 12 hours, an overwhelming number of members have been in touch with us,” Parsons said in a statement. “They have told us that if we do not reconsider our decision, it is now likely to have grave consequences.”

Parsons added: “What is clear is that the rapidly escalating situation has now put us in a unique and impossible position so close to the

start of the Games.”

The IPC now joins sports like soccer, track, basketball, hockey, and others that have imposed blanket bans on Russians and Belarusians.

The International Olympic Committee (IOC) on Monday pushed sports bodies to exclude Russian and Belarusian athletes from international events, but it left the final decision to individual governing bodies.

The IOC has been slow to crack down on Russia, allowing its athletes to compete in the last four Olympics following a state-sponsored doping scandal and coverup in the 2014 Winter Olympics.

Russia was expected to have 71 athletes competing in Beijing. It was not immediately clear how many Belarusian athletes were involved.

Ukraine has said it would have 20. AP

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

B8

Friday, March 4, 2022

Editor: Tet Andolong • www.businessmirror.com.ph

Get ready for more driving action with

Avanza advancing; $20-B Toyota profit

Suzuki’s Triple Deal Promo

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HE first quarter of the year may be coming to an end but the surprises continue for Suzuki Philippines Inc. (SPH). The country’s pioneer compact car distributor recently shared some exciting news to kick off the month of March, announcing its Triple Deal Promo, which runs from March 1 to 31, 2022.

“We at Suzuki always strive to ensure our devoted patrons experience the best level of service our brand has to offer,” Keiichi Suzuki, Vice President and General Manager for Suzuki Automobile, shared. “This includes finding ways to ensure greater reach and accessibility of our wide range of products and services to all Filipinos.”

The March Triple Deal Promo mechanics feature low down payment schemes and large cash reductions on the Suzuki XL7 and all

variants of the Suzuki Carry and Suzuki Dzire. n XL7—Ready for more action?

More than its sleek appearance, the Suzuki XL7 is engineered to move the human spirit by providing unrivaled comfort, especially on long rides. The XL7 is now available with an affordably low down payment of P120,000 and discount of P65,000 through the brand’s Triple Deal Promo. n Carry—Go beyond excellent driving with all of the Suzuki Carry variants that provide drivers

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the sense of strength, enthusiasm, and comfort whilst pursuing any kind of journey. On top of its three-Year Free PMS Program, any and all variants of the Suzuki Carry can now be purchased for a

down payment as low as P82,000 and with a notable discount of up to P23,000. n Dzire—Suzuki’s original subcompact sedan is what drivers have always wanted. The Suzuki Dzire is well renowned for making owners see driving in a new light. Its comfortable interiors, sleek appearance, convenient city proportions, and the extra benefit of being low maintenance all reflect a relentless pursuit of perfection in designing a vehicle that’s worth every cent. Budding customers can now indulge their Dzires for down payments as low as P39,000 and discounts of up to P60,000. http://suzuki.com.ph/auto/.

NSTOPPABLE in its vehicledevelopment binge, Toyota Motor Philippines (TMP) will unveil the All-New Avanza on March 7 in an event seen as another proof of the company’s undisputed industry leadership.

With P813,000 as the salivating start-up price of the all-new iteration Avanza, TMP is sure to shake once again the ever-volatile market for the compact MPVs (MultiPurpose Vehicles) segment.

The Avanza launch comes on the heels of TMP’s unwrapping of its latest addition to the Toyota family, the Raize.

Quickly touted as the junior version of the best-selling Fortuner, the Raize quickly joins the CV (commercial vehicle) category that is designed, according to JM Oleo, “under Toyota’s global architecture platform.”

The Avanza, redesigned last in 2019, had already started accepting reservations on March 1, even as test-drives are now being done in earnest in select dealerships nationwide.

“Our mobility requirements are rapidly evolving, especially after the disruptions caused by the pandemic, but one thing remains constant—Filipinos will always need a reliable car that can offer ample, comfortable space for the family, including extended family members,” said Sher win Chualim, TMP’s first vice president for Vehicle Sales Operations. “This has always been the strength of the Avanza, but for this 2022 release, expect even more value-for-money features on top of its striking style upgrades inside and out.”

Full features and specifications of

the All-New Avanza can now be seen at toyota.com.ph, on Toyota’s Facebook and Instagram @ToyotaMotorPH, on Twitter and Toyota PH on Viber.

Meanwhile, Nikkei has just reported that Toyota recorded a net profit of 2.3 million yen ($20 billion) during a nine-month period from April-December 2021, which was an astonishing leap of 58 percent from the same period the previous year.

This means that Toyota has led global car sales for the second straight year as the world No. 1 automaker successfully navigated its way out of the pandemiccaused chip crunch.

Not only that. Toyota’s overall performance for 2021 beat GM’s output in total US sales for the first time ever.

So confident is Toyota of its expansion activities that it will start manufacturing next month 11 million cars, maintaining its illustrious standing as the global leader in vehicle production.

In the same dispatch, Nikkei said Toyota aims to sell 3.5-million EVs (electric vehicles) in 2030 in a bid to shed the company’s laggard image in the EV race.

Indeed, when you are No. 1, you continually assert your leadership, in the words of Vince Socco, “with firm vigor and brave vision.”

PEE STOP Glad that we are now almost on the road to recovery—thank God. But let us not use Level 1 as an excuse to drop our guard down. Let us continue wearing our face mask, washing our hands often, and keeping a 6-feet distance from the person next to you. Always, better to be safe than sorry.

Pilipinas Shell gives back Shell Go+ points to celebrate 108 years

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ILIPINAS Shell is giving back to its most loyal customers as they celebrate 108 years together with the Great 108 promo. Shell Go+ app or card owners can avail of more rewards and discounts from any of the participating Shell stations as they purchase Shell lubricants, oils, gasoline, and other goods from Shell Select stores.

Shell Go+ is a Loyalty Program wherein members earn and redeem rewards points for perks like fuels, products, and services from Shell and its partners. Exclusive offers from other brands and companies are also made available all throughout the year to cater to the different tastes and passions of the customers. The points and rewards can be accessed through a physical card or through the downloadable app.

“Pilipinas Shell has been serving the energy needs of the Philippines for over 100 years. To celebrate that milestone, we invite motorists, passengers, and pedestrians to join us as we mark the 108th year of Shell in the country,” said Arvin Obmerga, Pilipinas Shell Mobility Marketing Manager. “Customers who are Shell Go+ members will enjoy more treats in our Great 108 promo. Shell users who are not yet Shell Go+ members may find this the opportune time to join as we celebrate. We look forward to continue serving Filipinos in the next 108 years as we keep moving the Philippines forward.”

With Pilipinas Shell’s Great 108 promo, customers will receive 108 Shell Go+ points for every minimum purchase of Shell V-Power at Php 1,000 or Shell FuelSave at Php 1,500. The promo is also effective when customers purchase participating Shell Rimula motor oils or Shell Advance motorcycle oils. The Shell Go+ points earned can be used to pay for

Shell products and services to help with customers’ day to day expenses.

Doubling down on the celebrations, customers can also receive twice more Shell Go+ points for their purchases in Shell Select stores by either buying two of Selecta’s Magnum Classic, Almond, or Cookies and Cream for a discounted price of Php108. Shell also offers as options

Red Bull drinks or Select water, satisfying customers in more ways than one.

During the Great 108 which will be running until April 3, 2022, customers will only need to present their Shell Go+ app or card. For more information or complete mechanics, visit https://www.shell.com. ph/motorists/campaigns-and-promotions/ the-great-108-shell-anniversary.html.