BusinessMirror March 04, 2024

Page 1

By Lenie Lectura @llectura

A $3.3- BILLION power deal meant to boost energy security in the country was forged among Pangilinan-led Meralco PowerGen Corp. (MGen), Aboitiz Power Corp. (AP) and San Miguel Global Power Holdings Corp. (SMGP) of Ramon Ang.  Under the deal, MGen and AP will jointly invest in two of SMGP’s gas-fired power plants—the 1,278 MW Ilijan power plant and a new 1,320 MW combined cycle power facility which is expected to start operations by the end of 2024‚and together with SMGP

will invest in almost 100 percent of the liquefied natural gas (LNG) import and regasification terminal owned by Linseed Field Power Corp.

A dditionally, all three companies will acquire the LNG import and regasification terminal of Linseed Field Power Corp. This will be used to receive, store and process LNG fuel for the two power plants, thus fully integrating the local energy sector into the global natural gas supply chain.

T his move is expected to steer the country towards a cleaner, more sustainable future in line with the Marcos administration’s push for more natural gas in the country’s

energy mix. More important, SMGP said this will make competitively priced and affordable power accessible to

END-JAN DEBT HITS NEW RECORD HIGH OF P14.8T

THE national government’s outstanding debt as of end-January this year rose to a new record high of P14.79 trillion, according to the Bureau of the Treasury (BTr).

billion to the January total,” the Treasury said.

Marcos to raise ‘key’ global peace issues in Melbourne

BA

T

“ The Philippines has signifi-

lagged behind its Asean neighbors, as a result of the relatively weaker growth since the mid-1960s. In 1965, per capita GDP in purchasing power parity

[PPP] terms in the Philippines was among the highest in the region,” the report stated.

Jonveaux explained that while the country’s poverty rate improved to 16.7 percent in 2019 from 26.3 percent in 2010, this was based on national thresholds.

Using the World Bank threshold for LMICs, poverty rate in the country was still at 18.3 percent in 2019 but was still lower than the 35.3 percent in 2010.

T he report said the country’s poverty rate remains higher than its Asean neighbors such as Vietnam, with a poverty rate of 5.3 percent and Thailand at 1 percent.

The poverty rate at the thresholds defined for UMICs [upper-middle-income countries, a status that the country should reach between 2025 and 2027] still stood at 52 percent of

RESIDENT Ferdinand R. Marcos Jr. said he will be raising “key issues” which affect global peace during the Association of Southeast Asian Nations (Asean)-Australia Special Summit this week.

I n his departure speech on Sunday, the chief executive said he will present the country’s position on the matter during the Leaders’ Retreat of the Summit.

H e will also be participating at the Leaders’ Plenary “where we will take stock of Asean-Australia cooperation and propose ways forward to further bolster relations.”

This administration continues to ensure that our constructive engagements with Asean, our External Partners, and stakeholders, will best serve our national interest, in as much as we promote the

region’s peace, stability, security, and prosperity, for the well-being of the Filipino and all our region,” Marcos said.

H e will participate in the Special Summit commemorating the 50 years of Asean-Australia Relations upon the invitation of Australian Prime Minister Anthony Albanese.

W hile in  Melbourne March 4 to 6, 2024,  the President noted he will also be discussing the same international security concerns in his keynote speech to the Lowy Institute.

“ I will highlight the Philippines’s role as an active participant in world affairs and a contributor to the rules-based regional security architecture,” Marcos said.  He is also scheduled to meet with the Filipino community and business groups in Australia as well as hold bilateral talks with New Zealand on “political, economic, and

a broader base of Filipino consumers.  T he collaboration will substantially augment the country’s power supply with over 2,500 MW of generation capacity once fully operational, backed by advanced LNG storage and regasification capabilities. This effort will not only meet the country’s energy requirements but also support its environmental objectives by significantly lowering emissions. U BS AG served as the financial adviser to MGen and AP on this transaction.
T he BTr reported that the national government’s (NG) debt increased by P173.91 billion in January from the P14.62-billion outstanding debt level in December.  Government data showed that the end-January debt is also higher by 7.97 percent or P1.091 trillion than the end-January 2022 level.  T he Treasury traced the increase in debt “to the net issuance of domestic securities and the effect of peso depreciation.” O f the total debt stock, 68.71 percent comprised domestic borrowings, while 31.29 percent came from foreign sources. T he NG’s domestic debt for the end-January level is at P10.16 trillion, indicating an increase of P144.25 billion or 1.44 percent from the end-December 2023 level due to the net issuance of government securities.  G ross issuance of domestic debt for last month reached P211.11 billion, while principal payments amounted to P69.67 billion, which resulted in a net issuance of P141.44 billion, the Treasury added. Meanwhile, the valuation effect of local currency depreciation against the US dollar on foreign currency-denominated domestic debt added P2.81
BusinessMirror ROTARY CLUB OF MANILA JOURNALISM AWARDS 2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award 2018 Data Champion EJAP JOURNALISM AWARDS BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY 2018 BANTOG MEDIA AWARDS w P25.00 nationwide | 2 sections 20 pages | n Monday, March 4, 2024 Vol. 19 No. 141 See “Debt,” A2 PHL MUST CUT POVERTY RATES BEFORE PURSUING UMIC DREAM By Cai U. Ordinario @caiordinario
EFORE fulfilling its dream of reaching Upper Middle Income Country (UMIC) status, the Philippines must first significantly bring down poverty, according to the French Development Agency
(AFD).
report
Country
Jonveaux
poverty
ippines
high,
when
UMIC
written by AFD
Risk Economist Benoît
said
in the Phil-
remains
especially
using
standards.
he World Bank
UMIC poverty lines are higher
$6.85 per day
to
dle-income
$3.65 per day.
said
at
compared
lower-mid -
countries (LMICs) at
cantly
PESO EXCHANGE RATES n US 56.1740 n JAPAN 0.3746 n UK 70.9309 n HK 7.1753 n CHINA 7.8152 n SINGAPORE 41.7464 n AUSTRALIA 36.4850 n EU 60.7072 n KOREA 0.0421 n SAUDI ARABIA 14.9789 Source: BSP (March 1, 2024) See “Marcos,” A2 MGen, AP, SMGP seal 1st integrated LNG deal See “PHL,” A2 HOW CHINESE SCIENCE FICTION WENT FROM UNDERGROUND MAGAZINES TO NETFLIX EXTRAVAGANZA EXPLAINER »B4 ALLIANCE GLOBAL GROUP EYES 100-PERCENT RENEWABLE ENERGY USE FOR MEGAWORLD, NEWPORT WORLD RESORTS; TAPS MERALCO’S MPOWER Andrew Tan’s Alliance Global Group Inc. (AGI), through its companies Megaworld and Newport World Resorts operator Travellers International Hotel Group, has tapped MVP-led MPower of Meralco to achieve its goal of sourcing 100 percent of its power requirements from renewable energy this year. MPower is set to supply a total of 100 megawatts of renewable energy to around 70 property developments of both Megaworld and Newport World Resorts. Leading the ceremonial signing
IMAGE CREDIT: DARYA PETRENKO DREAMSTIME.COM
of the landmark deal were Kevin Andrew L. Tan, chief executive officer of AGI (second from left) and Manuel V. Pangilinan, chairman and CEO of Meralco (second from right). Witnessing the signing were Lourdes T. Gutierrez-Alfonso, chief operating officer of Megaworld (left) and Redel M. Domingo, first vice president and head of MPower. TAYTAY TWILIGHT TAPESTRY In Taytay, Rizal, along Cabrera Road, travelers are greeted by a mesmerizing spectacle as a radiant sunset gracefully drapes the skyline of Metro Manila, evoking the image of a celestial canopy gently settling upon the earth’s embrace. This breathtaking vista invites observers to pause and immerse themselves in the splendor of nature’s artistry. BERNARD TESTA

Customs seizes ₧1-B vape, ‘ukay ukay’ products in raids

THE Bureau of Customs (BOC) reported seizing about P1 billion worth of illegally imported vape and ukay-ukay products on Friday, March 1.

T he BOC said that its antismuggling operations in several warehouses in Malabon City led to another seizure of vape products, including secondhand clothing.

T he series of raids in Malabon City and Parañaque City were conducted by the Customs Intelligence and Investigation Service (CIIS).

A ccording to Customs Commissioner Bienvenido Rubio, around 20 warehouses located at 67 Governor Pascual St., Potrero, Malabon City were being used as storage facilities for smuggled vape products.

“ Our operations against these smuggling groups will not stop un -

til they are all held liable for their crimes. This recent enforcement of our laws sends a clear message that these activities will not go unchecked on our watch,” Rubio was quoted in the statement as saying.

T he initial inspection of the location in Malabon City revealed a total of 20 warehouses, and the CIIS team was able to open one warehouse where it found 8,400 boxes of Flava-branded vapes from China, the Customs said.

T he total current market value of the smuggled vapes found was P462 million. Each box contains 100 pieces of vape which costs P550

Index (HDI).

the population in 2022,” the report stated.

A part from poverty, the AFD report cited the country’s slow progress in the Human Development

B etween 1995 and 2020, the report said the country’s HDI score only improved 17 percent compared to 31 percent in Vietnam, 28 percent in Indonesia, and 25 percent in Thailand.

The progress in other socioeconomic indicators is also either slightly below comparable Asean

per piece.

T

or

T

A ccording to CIIS Director

countries, or has improved at a slower pace,” the report stated.

I n order to catch up with its neighbors and attain its goals, the Philippines needs to post “a more sustained growth rate.” However, AFD noted, the country faces significant structural barriers.

M any of these barriers, AFD said, were identified by other insti -

Verne Enciso, the total aggregated value of the goods stored in the 16 warehouses inventoried to P1.073 billion.

M eanwhile, Deputy Commissioner for Intelligence Group Juvymax Uy said that the remaining three warehouses will be inventoried by the assigned Customs examiner from the Port of Manila on Monday, March 4.

A ll warehouse representatives were told that they have 15 days to provide proof of payment of duties and taxes covering the goods stored and found, the BOC added.

O wners of the goods will face charges if they cannot present the proper documents for violation of Section 1400 (Misdeclaration in Goods Declaration) in relation to Section 1113 (Property Subject to Seizure and Forfeiture) of Republic Act No. 10863 known as the Customs Modernization and Tariff Act (CMTA).

tutions. These include informality, access to financing and the relatively low productivity of workers since jobs are concentrated in low value-added sectors.

T he list includes the high cost of electricity since the price per kWh is the highest in the Asean region after Singapore; as well as the quality of infrastructure and connectivity between the islands of the archipelago.

T he AFD noted the Philippines suffers from poor progress in addressing corruption and improving government effectiveness as seen in the country’s performance in the World Bank’s governance indicators. I n terms of competitiveness, AFD said the country lags behind its Asean neighbors. Based on the World Economic Forum, the country was lagging behind in terms of institutional quality, infrastructure, and the competitive environment.

The successive crises between 1960 and 1997 held back the country’s industrial development: while the sector accounted for over 40 percent of GDP in the early 1980s [one of the highest levels in Southeast Asia], this level has decreased continuously since,” the report stated.

“ In 2022, it only accounted for just under 30 percent of GDP, the lowest level among comparable Asean economies,” it added.

Meanwhile, addressing climate change can also help the country prevent more Filipinos from falling into or back into poverty.

T he AFD report said climate change affects the poorest Filipinos more. Citing data from the World Bank, the report stated that a million Filipinos become poor due to climate change-related events every year.

Further, a third of the population in provinces on the eastern side of the country, AFD stated, is at risk of falling below the poverty line due to the impact of typhoons.

A FD also lamented that an average of 0.63 percent of GDP a year since 2013 was spent for post-natural disaster reconstruction and rehabilitation.

“ These resources could have been used for other development expenditure and financing them has increased the public debt,” AFD said.

A FD said the World Bank’s estimates showed the total cost of climate change could be situated in a median range of between 7.6 percent and 11 percent of GDP by 2050.

T his could reach up to 15 percent in the worst-case scenario of regular and more intense typhoons and with the occurrence of extreme events.

T his includes the impact of climate change on crop yields. The World Bank said climate change could reduce yields by up to 5.5 percent in 2040.

Garin, ex-OFW leader: Cha-cha curbs must go

ADEPUTY majority leader and a former overseas Filipino worker both agreed that making the 1987 Constitution less restrictive would increase foreign investments, create better-paying jobs, and potentially keep overseas Filipino workers from seeking employment abroad.

House Deputy Majority Leader Janette Garin thinks amending the economic provisions of the 1987 Constitution will pave the way for broader opportunities within the country.

D uring a session on Resolution of Both Houses (RBH) No. 7, Garin queried CoRRECT Movement

Principal Co-founder Orion Perez Dumdum, who held the view that economic charter change could address this concern, particularly by lifting restrictions and encouraging Filipinos with potential to work within the country.

“Yes, your honor. This will be answered partially. As a first enabling step, this will be addressed by economic constitutional reform,” Dumdum said, noting that many skilled Filipinos opt to work in Singapore, Europe, and America. Garin expressed concern over Filipinos being enticed by overseas companies due to the limited quality of job options in the Philippines,

Debt...

Continued from A1

On the other hand, external debt as of end-January soared by 7.29 percent to reach P4.63 trillion from P4.31 trillion a year ago. It also inched up by 0.65 percent from P4.60 trillion in December 2022.

T he Treasury attributed the increase to the P81.73-billion upward revaluation caused by local currency depreciation against the US dollar.  However, this was partially offset by favorable movements in third currencies (P28.52 billion), reducing the net increase by P52.07 billion, it added. E xternal loan availment contributed P61.86 billion for the month of January, which consisted of P5.36 billion in project loan disbursements and P56.50 billion from program loans.

T he program loans also included loans from the Asian Development Bank (ADB) amounting to USD400 million and the World Bank (WB)

leading to their separation from their families.

S he cited examples of Filipinos in Vietnam who were once managers or even company owners in the Philippines, but flew abroad due to a lack of significant capital and were recruited by foreign companies.

Ph ilippine Statistics Authority (PSA) data show an estimated 1.96 million Filipinos worked abroad from April to September 2022. This marked a 7.6-percent increase from the 1.83 million OFWs in the same period in 2021.

F ormer OFW Dumdum said making the 1987 Constitution less restrictive would increase foreign investments, create better-paying jobs, and potentially keep overseas Filipino workers from seeking employment abroad.

H e proposed the complete removal of restrictive economic provisions from the Constitution, saying the Organization for Economic Cooperation and Development (OECD) ranks it as the third most restrictive economy in the world.

“ The effect of reducing foreign equity restrictions is the strongest, denoting its relatively greater importance as a statutory barrier for investors,” he said, quoting OECD.  Jovee Marie N. dela Cruz

at USD600 million.

Total repayment of external loans amounted to P85.41 billion, resulting in a total net repayment of P23.55 billion for January 2024.

T he national government’s total guaranteed debt dropped by 11.47 percent year-on-year to P348.66 billion from P393.84 billion.

N et repayment for domestic guarantees amounted to P1.12 billion while P0.24 billion for external debt.

T hird currency appreciation against the US dollar further trimmed P2.40 billion, but this more than offset the P2.98-billion effect of revaluation of peso depreciation against the US dollardenominated guarantees.

By the end of this year, the national government’s outstanding debt is expected to reach a ballooning P15.8 trillion.

T he country’s debt-to-GDP ratio is at 61.6 percent by the end of 2023.

Continued from A1

socio-cultural relations” and with Cambodia on possible rice supply and air connectivity.

A lso part of his itinerary is to attend the launching of the Victoria International Container Terminal (VICT), Australia’s first, fully automated container

terminal.

“ The VICT is a subsidiary of the International Container Terminal Services Inc., ICTSI and is a testament to ICTSI leadership as a leading Filipino company in the field of global port management,” Marcos said.

Continued from A12

“ However, Makati asked: “If this were true, then why issue a closure order on a Sunday and serve it on the same day at 6:40am? Why deploy 100 uniformed personnel to serve a closure order on a garage?”

T hey also questioned the move of Taguig saying, “But Taguig, by insisting that Makati needs to secure a permit for the park, affirms our ownership of the property.”

“ This contradicts their earlier statement, but by now, we are accustomed to Taguig’s legal somersaults and twisted logic,” Makati added.

B y displaying overwhelming force, Taguig, according to Makati, clearly intends to intimidate.

But Makati will not be intimidated. We will not yield to a bully.

Taguig’s handling of the Makati Park issue, as well as other issues involving the EMBO communities, is childish, arrogant, and reckless,” Makati stressed.

M akati also said that at a time when the national government is working tirelessly to attract foreign investments, Taguig’s actions “can send the wrong signals to potential investors.”

M akati City Hall asked, “How can foreign investors feel secure and protected when a local government in Metro Manila  can behave with little regard for the law and the legal process?”

M akati also reiterated its call for the concerned national agencies to censure Taguig for its actions.  Claudeth Mocon-Ciriaco

PHL...
BusinessMirror www.businessmirror.com.ph Monday, March 4, 2024 A2 News
Continued from A1
he government could have collected around P898.8 million from the seized smuggled vapes coming from the excise tax worth P520 per 10 millimeters or one piece. Under the new sin tax reform law
the Republic Act (RA) No. 11467, a tax of P37 per millimeter will be imposed on salt nicotine vapor products in the first year, and an additional P5 per millimeter per year until the rate reaches P52 per millimeter in 2024. Thereafter, the tax will be increased by 5 percent every year.
estimated
worth of branded
unbranded shoes, hardware supplies, ukay-ukay or used clothing, unbranded clothes, household items, and others.
A part from the vape products discovered, the CIIS also found an
P174.2 million
and
15 other
hese items were seized from
warehouses that were opened and inspected.
Marcos...
Makati...

13

THE Bureau of Immigration (BI) announced last Sunday the arrest of 13 Vietnamese nationals found to be illegally operating health spas and clinics in Makati City.

The Vietnamese were arrested in four separate clinics in the cities of Makati, Parañaque and Pasay during operations conducted by immigration authorities and the police. The operation was launched after the BI received information about their presence and activities in these cities.

“The audacity of these illegal aliens to be running their [businesses] in the middle of the Metro,” BI Commissioner Norman G. Tansingco said.

Tansingco said the Vietnamese were unable to present documentation during the arrest, prompting the BI to declare them as undocumented aliens.

They are now facing criminal charges for working without a proper permit or visa in violation of the Philippine Immigration Act of 1940 and for being undocumented aliens, the Commissioner added.

Tansingco noted that one of those arrested has a working visa for a different company, which is a violation of the conditions of his stay.

“These illegal aliens are operating their business in broad daylight, perhaps thinking that they will not be caught. We urge local government units, barangays, and community members to report illegal aliens in your areas so we can immediately arrest and deport them,” Tansingco said. The BI said the 13 Vietnamese will be detained at the BI’s facility in Bicutan, Taguig, pending the resolution of the deportation cases filed against them. Joel San Juan

Sen. Go advocates for enhanced fire prevention measures as he gives support to victims in Cebu

SENATOR Christopher “Bong” Go emphasized the critical need for improved fire prevention strategies, especially as the country observes Fire Prevention Month this March. On Thursday, February 29, Go has mobilized his Malasakit Team to assist fire victims in Cebu City recover and rebuild.

The relief activity was held at the National Housing Authority’s Office, where 31 fire victims received snacks, grocery packs, vitamins, masks, shirts, and balls for basketball and volleyball.

“Sa mga nasunugan, huwag ho kayong mag-alala. Sabi ko nga sa inyo noon, ang gamit ay nabibili. Ang pera ay kikitain, subalit ‘yung perang kikitain ay hindi po nabibili ang buhay. A lost life is a lost life forever,” said Go in a video message.

“Pangalagaan at ingatan po natin ang buhay at kalusugan ng bawat isa. Ang importante po magtulungan tayo, sino pa ba ang magtutulungan kung ‘di tayo lang po kapwa natin Pilipino. Kaya po nandirito kami ngayon para tulungan kayong lahat mga kababayan ko, sa abot ng aming makakaya,” he added.

The senator’s office also partnered with the National Housing Authority (NHA) so that qualified fire victims may benefit from the Emergency Housing Assistance Program (EHAP), which Go continues to support to help disaster-stricken communities rebuild their homes.

“Itong programang EHAP, [nasimulan] panahon pa ni dating Presidente (Rodrigo) Duterte. Isa ako sa nagsulong nito noon. Ngayon, ito ay aking sinusuportahan para maipagpatuloy, para may maibili ng housing materials tulad ng pako, yero at iba pa ang mga nasunugan,” Go explained in a video message.

Acknowledging the unpredictable nature of such emergencies, Go, as Chairman of the Senate Committee on Health and Demography, assured the public that Malasakit Centers are ready to offer aid to cover medical expenses, ensuring that victims of fire incidents have access to the care they need without the burden of additional financial stress.

In Cebu City, residents may visit Vicente Sotto Memorial Medical Center (VSMMC), Cebu City Medical Center, and St. Anthony Mother and Child Hospital. There are also Malasakit Centers at Eversley Childs Sanitarium and Gen-

eral Hospital in Mandaue City, Cebu South Medical Center in Talisay City, Lapu-Lapu City District Hospital, and Cebu Provincial Hospital in Carcar City.

Go is the principal author and sponsor of Republic Act No. 11463, or the Malasakit Centers Act of 2019, which already established 159 operational centers and helped around ten million indigent patients, according to the Department of Health (DOH).

In addition to the Malasakit Centers, Senator Go highlighted that he advocated for 21 Super Health Centers in the province, which offer primary care services and free consultations, among other health services.

Go then highlighted RA 11959, known as the Regional Specialty Centers Act, a legislative measure for which he is the principal sponsor and one of the co-authors in the Senate. The new law aims to establish Regional Specialty Centers within existing DOH regional hospitals to make specialized medical services accessible in all regions.

Inside VSMMC are three specialty centers: cardiovascular care, neonatal care, and trauma care. There will be other specialty centers set to be established inside the hospital, such as renal care and transplant center, lung care, brain and spine care, orthopedic center, physical rehabilitation medicine, infectious disease, and tropical medicine, among others.

Furthermore, to enhance public services in the city, Go supported the rehabilitation and expansion of a multipurpose building in Brgy. Duljo Fatima is constructing a new multipurpose building in Bahay Silangan and acquiring a mini dump truck.

He also supported other projects in the province, including the construction of multipurpose buildings in Barili, Cordova, Ginatilan, Pilar, Tabogon and Talisay City; improvement of existing roads in Alcantara, Alcoy, Alegria, Asturias, Balamban, Boljoon, Borbon, Carmen, Madrilejos, Malabuyoc, Minglanilla, Moalboal, Pinamungajan, Sibonga, Sogod, Tabogon, Tabuelan, Carcar City and Naga City; improvement of flood mitigation structures in Catmon and Tuburan; installation of street lights in Asturias, Compostela, and Daanbantayan; and acquisition of ambulance units for Madridejos and Naga City.

Chinese Embassy to PHL’s envoy Babe Romualdez: Stop being US mouthpiece

THE Chinese Embassy in Manila lashed out at the Philippines’s top envoy to Washington D.C. and urged him to stop being the mouthpiece of the US.

The Chinese Embassy was reacting to the remarks made by Ambassador Jose Manuel “Babe” Romualdez last week on his worry that the West Philippine Sea might trigger a full-blown war.

“It is deplorable that the said individual [Romualdez], in ignorance of basic facts, again used the South China Sea issue to hype up and launch

a baseless accusation and malicious smear campaign against China,” the embassy spokesman said in a statement released Sunday.

Romualdez had earlier said that China’s aggression on Philippine Navy, Coast Guard and fisherfolks is “very real.” He is worried that the tension would escalate and a “major accident” would trigger either Washington D.C. or Manila to invoke the Mutual Defense Treaty.

Under the 1951 MDT, the two countries are obligated to help another when one is attacked in the Pacific.

Romualdez believes the flashpoint

in Asia is not in the Taiwan Strait but in the WPS.

“We urge the said individual [Romualdez] to stop spreading erroneous ‘China threat’ and ‘Sinophobia’ remarks, refrain from serving as mouthpiece for another country and do more for the benefit of his own people and his country’s relations with China instead,” the Embassy statement said.

It said bringing in “outside forces” and forming mini-alliances “will not help resolve” the territorial dispute. Such moves, it added, “only complicate the regional situation, undermine regional peace and stability, and back -

Romualdez vows expediting scholarship for WPS fishers’ children

THE leadership of the House of Representatives on Sunday vowed to expedite the granting of scholarships to over 1,000 children of the more than 600 Palawan fishermen affected by the West Philippine Sea (WPS) issues.

The leaders of over 600 fishermen in Aborlan, Palawan, went to the ACT-CIS office in Puerto Princesa City to seek help and convey their problems in the West Philippine.

Speaker Ferdinand Martin G. Romualdez happened to visit Palawan last Friday to inaugurate his office in Puerto Princesa, so House Deputy Majority Leader Erwin T. Tulfo, together with fellow ACT-CIS Party list Rep. Edvic G. Yap, took the opportunity to raise the fishermen’s issues.

Romualdez is also the caretaker of the third district of Palawan, following the passing of Rep. Edward S. Hagedorn.

The fishermen reported to the Speaker that their livelihoods in the area are already affected by larger Chinese boats that continue to impact their livelihoods.

Among their requests was assistance for their children’s education. They also pleaded for help in having their own ice plant and gas station in the area for the fishermen’s needs.

The fishermen also requested livelihood opportunities.

“Let’s do it straightforwardly; let’s gather all the lists of students, and let’s grant them scholarships. It’s that simple. If you’re facing challenges in education, let’s go with scholarships

straight away,” the Speaker promptly responded to the fishermen.

The Speaker also said he would consult with Rep. Jose C. Alvarez of the second district of Palawan to provide larger boats for the fishermen. He also said he would expedite the establishment of an ice plant and gas station in Aborlan.

“Then, one fuel storage facility there in Aborlan. Let’s talk to Mr. Ramon Ang to set up a fuel storage facility. And let’s fix the larger boats,” Romualdez added.

Romualdez also assured the fishermen of the provision of alternative livelihoods for their families, such as food processing facilities.

“We will help with your livelihood,” the Speaker said. Jovee Marie N. Dela Cruz

Mayor

by Dr. Ester Jacob

wife; Bien Dayang, son; Engineer Dennis Martin, son-inlaw; Deena Martin, Emma Martin, Maggie Martin, grandchildren. Marison, the eldest child of Ben, is deceased.

Ben is the son of the late Buenaventura Delfin Dayang and the late Jovita Lachica Punzalan. Betty Dayang Villa and Emerita Dayang Ingat are his younger sisters.

A sportsman and native of Kalibo, Aklan, Ben Dayang has also served as a military officer.

Lady solons to take helm of Congress

IN observance of Women’s Month,

lady lawmakers are set to take the helm at the House of Representatives on Monday, March 3.

In accordance with Section 15 (h), Rule IV of the House rules, Speaker Ferdinand Martin G. Romuladez emphasized that this symbolic gesture highlights the House leadership’s commitment to the vital role of women members in lawmaking, nationbuilding, and society.

The speaker designated the following members to preside over the session successively: Linabelle Ruth Villarica (4th District, Bulacan), Stella Luz Quimbo (2nd District, Marikina City),

Maria Rachel Arenas (3rd District, Pangasinan), Anna Marie Villaraza-Suarez (ALONA Partylist), Laarni Lavin Roque (4th District, Bukidnon); Josephine Veronique Lacson-Noel (Malabon City), Mary Mitzi Cajayon-Uy (2nd District, Caloocan City), Marlyn Primicias-Agabas (6th District, Pangasinan), Glona Labadlabad (2nd District, Zamboanga del Norte), and Geraldine Roman (1st District, Bataan).

Bataan 3rd District Rep. Maria

Angela S. Garcia will act as House Majority Leader and Bagong Henerasyon (BH) Partylist Rep. Bernadette Herrera will be the House Minority Leader.

Marina, DOST renew partnership in R&D

Malaluan emphasized the vital role of emerging technology

She said

(MIDP) 2028.”

The MIDP has a strong emphasis on the development of the “blue economy framework,” which encompasses a wide

“The House leadership champions women empowerment, gender equality, and gender balance. Women have constantly become

fire on its own security.”

“Who are stirring up the situation in the South China Sea? Who are spreading ‘China threat’? Who are ganging up in small blocks? Who invented ‘economic coercion’? Where did it originate? Who weaponizes economic power and gets addicted to sanctions? The questions are selfexplanatory,” the Embassy added.

In an apparent reference to the US, the Embassy warned the Philippines against relying on the US for help.

“For those who habitually pay lip service, whether their promises will be kept this time is for all to wait and see,” the Embassy said.

Deaths due to respiratory disease, HIV rose in 2023

DEATHS caused by respiratory diseases and the human immunodeficiency virus (HIV) illness increased in the January to September period of 2023, according to the Philippine Statistics Authority (PSA). However, the PSA data showed that total deaths still contracted 11.5 percent in the January to September period of 2023.

A total of 449,206 Filipinos died in the January to September 2023 period, lower than the 507,516 posted in the same period in 2022.

Respiratory diseases such as pneumonia and respiratory tuberculosis increased by 9.1 percent and 2.5 percent during the period, respectively.

Pneumonia-related deaths accounted for 5.9 percent of total deaths, making it the fifth top cause of death in the country during the period.

This was followed by respiratory tuberculosis which accounted for 3.2 percent of the total or 14,340 deaths. This is higher than the 13,994 deaths recorded in the January to September 2022.

The data also showed deaths caused by other respiratory diseases such as upper respiratory infections, among others have increased 8.9 percent. These diseases caused the death of 4,750 Filipinos in January to September 2023 from 4,361 Filipinos in the same period in 2022. These deaths accounted for 1.1 percent of total deaths.

Meanwhile, other causes of deaths also posted increases. This included viral hepatitis which increased 2.4 percent; HIV, 8.5 percent; other intestinal infectious diseases, 10.9 percent; and deaths caused by the exposure to smoke fire and flames, 6.6 percent.

Viral hepatitis caused the deaths of 802 Filipinos; HIV, 470; other intestinal infectious diseases, 356; and exposure to smoke fire and flames, 321.

Meanwhile, PSA said the top three causes of death in the country from January to September of 2023 were ischaemic heart diseases, neoplasms, and cerebrovascular diseases.

These were also the leading causes of death in the same period in 2022.

From January to September of 2023, ischaemic heart diseases were the leading cause of death with 85,192 cases or 19 percent of the total deaths in the country.

Meanwhile, neoplasms came in second with 47,425 deaths which accounted for a 10.6 percent share of total deaths.

Cerebrovascular diseases were the third leading cause which accounted for 45,522 recorded cases or a 10.1 percent share of the total between January and September 2023.

Deaths due to diabetes mellitus recorded 28,593 cases or 6.4 percent share, making it the fourth leading cause of death, while deaths due to pneumonia, which ranked fifth, recorded 26,654 cases or 5.9 percent share.

Cai

A3 Monday, March 4, 2024 www.businessmirror.com.ph
DAYANG
U. Ordinario
our guidepost in making critical decisions affecting our families, our communities, and our nation. They are our strong moral pillars,” he said. The women legislators are expected to lead discussions on pro-women and children bills, as well as the adoption of resolutions. The House will resume regular plenary sessions following Committee of the Whole deliberations on proposed economic constitutional amendments. Jovee Marie N. Dela Cruz THE Maritime Industry Authority (Marina) and the Department of Science and Technology-Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD) have renewed their partnership on research and development for the maritime sector. Marina Administrator Sonia B. Malaluan and DOST-PCIEERD Executive Director Dr. Enrico C. Paringit signed a memorandum of agreement for the renewal of their partnership at the Maritime Science and Technology Forum 2024. The Marina added that a pre-resolution was also signed by the participants to formalize their commitment in participating in “research and development initiatives that would create a culture of safer people, cleaner environment and energy-efficient ships in the domestic shipping sector.”
Vietnamese national arrested for illegally operating spas, clinics Burial of Ben Dayang, 87 set on
T HE burial of Ben Lachica Punzalan Dayang, 87 years old, who died on February 22, 2024, of cardiac arrest in Kalibo, Aklan, is set on Monday, March 4, at the Kalibo Municipal Cemetery. Prior to the interment, a Requiem Mass will be held at 3pm at the Cathedral of Saint John the Baptist.
Sunday, March 3, the Northwestern Visayan Colleges (NVC) will hold a Necrological Mass for Ben Dayang. The deceased was NVC ROTC Corps Commander during his student days.
government service, Ben Dayang was an Official of the Department of Tourism (DOT) before joining his family in the United States. A younger brother of former Unesco Commissioner and former Kalibo
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PHL hails WTO role in seeking more convergence despite agri impasse

AFTER five days of negotiations at the 13th Ministerial Conference, Manila underscored the importance of the World Trade Organization (WTO) despite unresolved issues in areas such as agriculture, dispute settlement reform and fisheries subsidies.

“Given the different levels of development of the now 166 WTO Members, finding convergence on sensitive and important issues is expected to be challenging,” Trade and Industry Secretary Alfredo E. Pascual was quoted in a statement the Department of Trade and Industry (DTI) issued last Sunday.

While there remains a lot of work to be done in agriculture, dispute settlement reform and fisheries subsidies, the Philippines’s trade chief said the Ministerial Conference was

still able to deliver on key outcomes such as the extension of moratorium on the imposition of customs duties on electronic transmission, finalization of the Investment Facilitation for Development Agreement, the entry into force of Service Domestic Regulations Agreement and the accession of Timor Leste and Comoros as new WTO members.

Pascual also recognized the “good progress” in the negotiation of fisheries subsidies. The Philippines was the 70th Member to deposit its instrument of acceptance of the WTO agreement on fisheries subsidies, an accord meant to safeguard the world’s depleting fish stocks and curb harmful subsidies.

For such Agreement to enter into force, two-thirds of 110 of WTO members must formally accept the Protocol of the Agreement on Fisheries Subsidies by depositing an “instrument of acceptance” with the

intergovernmental organization.

Despite the conference concluding with unresolved issues, Pascual said, the WTO remains the “core” of the multilateral trading system.

He also highlighted that “multilateralism remains relevant in this complex environment,” adding that “what is important is that we are all working towards noble objectives and driven by a strong desire to serve the people.”

According to the DTI, the Ministers adopted the Abu Dhabi Ministerial Declaration which highlights the importance of the “development dimension” in the work of the WTO, recognizing the multilateral trading system’s contribution to achieving the UN 2030 Agenda and its Sustainable Development Goals.

The declaration also recognized women’s participation in trade, contributing to economic growth and sustainable development.

The ministerial declaration also

Sulu college graduates, interns receive cash aid from BARMM

DAVAO CITY—College graduates and those currently pursuing their bachelor’s degrees in Sulu were the recent recipients of cash aid from the Bangsamoro government’s Ministry of Labor and Employment (MOLE).

A total of 114 regular beneficiaries received a combined amount of P10,428 as stipend for the months of September and October last year, while 100 other

beneficiaries received P5,214 under the Ministry’s Bangsamoro Government Internship Program (BGIP) special program of the office of former Member of the Parliament (MP) Sahie Udjah.

The assistance was given on February 26 in the capital town of Jolo.

The cash assistance program was facilitated by the BGIP and the Overseas Bangsamoro Workers (OBW) Educational Cash Assistance Program (Ecap) “to address pressing social and economic challenges

in the Bangsamoro region.”

MOLE Administrative Assistant IV Gary A. Alix expressed gratitude to Bangsamoro leaders for making available the funds for the students and the recent graduates.

“On behalf of our Minister, Datu Muslimin Sema, and the Bangsamoro Director-General, led by Datu Surap Abutasil Jr., this would not have been possible without our Chief Minister’s visionary leadership, which has enabled us to establish such programs,” Alix said.

Aside from the college beneficiaries, the

highlighted the role of services to the global economy, generating more than two-thirds of global economic output and accounts for over half of all jobs.

Meanwhile, on agriculture, WTO said despite the “intense” negotiations during MC13, members were not able to find convergence.

“Divergences remained on public stockholding [PSH] for food security purposes and in respect of timelines, expected outcomes and the scope of the flexibility to be provided to food imports by the most vulnerable countries from export restrictions,” the international trade body said.

For her part, WTO Director General Ngozi Okonjo-Iweala said this has been in the works for over two decades.

“At MC12, we couldn’t even agree on a text. Even though there are challenges, for the first time we have a text. We couldn’t finish the work on it here. So let us get back to Geneva and deliver!” she said.

MOLE and the OBW gave 50 OBW dependents P20,000 each under the OBW Ecap.

The BGIP facilitates gainful employment for fresh college graduates and equip them with the necessary skills and experience for their job search endeavors.

“We are grateful for the job experience opportunity provided by MOLE within six months. This has been a great help, as it allows us to gain valuable experience that can be beneficial when applying for jobs,” said Adzmar Halik, one of the BGIP beneficiaries.

The OBW Ecap also supports Bangsamoro college students.

Hotels, restaurants now required to give out service charge to contractuals, agency-hires

AMirror , Philippine Hotel Owners Association (PHOA) Managing Director Benito C. Bengzon Jr. said the group had “no estimate of the percentage of hotel employees who are contractual/casual.”

But industry sources indicated that the bulk of a hotel or restaurant’s operations are run by contractual employees or those hired through third-party employment agencies and include concierges, bellhops, waiters, kitchen staff, housekeeping, banquet and the like.

The DOLE has started implementing its Department Order 242-2024, which revises the implementing rules and regulations of Republic Act 11360, the Service Charge Law, enacted on August 2019. In a meeting between Labor Secretary Bienvenido Laguesma and industry stakeholders February 9, “The stakeholders stated that the sharing of the SC among contractual/casual employees is estimated to result in a 30 to 40 percent reduction in regular employees’ take-home pay.”

Labor officials, however contended that, while there will be more recipients in the distribution of the SC, “it does not

constitute a ‘diminution of benefits’ among regular employees since SC amounts are not constant,” according to the minutes of the meeting shared to PHOA members.

Managers excluded ACCORDING to the Philippine Statistics Authority, there were 33,215 hotels and restaurants in the formal economy in 2021, up 15.2 percent from 2020. By industry group, restaurants and mobile food service activities accounted for 25,642 or 77.2 percent of total establishments; followed by beverageserving activities with 3,790 establishments

(11.4 percent); and short-term accommodations with 3,122 establishments (9.4 percent). The sector generated an estimated revenue of P556.62 billion, while expenses reached almost P500 billion in 2021, thus turning a profit of about P57 billion.

Laguesma told stakeholders the new DO was issued after consultations with employers’ and workers’ groups and “was therefore crafted to follow the spirit and intent of the Service Charge Law. He emphasized that nothing in the law or IRR should result in the diminution of benefits or impair contracts as this is unconstitutional,” as per the minutes.

The DOLE also clarified that those in managerial positions are excluded from receiving their share of the SC, unless they already have been receiving it before RA 11360 was enacted.

“However, if they have changed employers or were recently promoted as managers, they will not be entitled to SC anymore.”

Paid twice a month

AS per DO 242-2024, “All service charges collected by covered establishments shall be distributed completely and equally, based on actual hours or days of work or service rendered, among the covered employees.”

Covered employees are defined as “all employees, except managerial employees as defined herein, regardless of their position, designations, or employment status and irrespective of the method by which their wages are paid.”

The share of of the SC “shall be distributed and paid to the covered employees not less than once every two weeks or twice a month at intervals not exceeding 16 days.” The new rules, however, respects the collective bargaining agreement between an establishment and its employee union.

In 2019, the PHOA had fought for the inclusion of managers in the distribution of the SC and was able to get workers’ groups to agree to it. The group continues to maintain the same position and that “[o]nly workers under the direct employ of the hotel should be included in the distribution of the SC and managerial employees receiving SC prior to the passage of RA 11360 should continue to be included in the distribution of the SC.”

Filipino gamers spend lower vs other Asians

FBy Rizal Raoul S. Reyes

ILIPINO gamers have the lowest propensity to spend—totaling P620 and above in a month on in-game purchases—compared to their APAC counterparts, according to the Omnicom Media Group Asia Pacific’s (OMG APAC) latest research titled “Unlocking Gamers in Asia Pacific.”

The study noted Mainland Chinese gamers spend at least three times and those in Hong Kong spend two times more.

In general, OMG Philippines CEO Mary Buenaventura said, 50 percent bought an ingame skin, character, or accessory in the last three months. Other items purchased during the period included battle/season pass (38 percent), gears/weapons (33 percent), extra lives, hints, or boosters (29 percent) and gaming currency (28 percent).

While these items offer brands a variety of opportunities to create in-game collaborations, Buenaventura said companies might see lower than expected conversions due to low average monthly spend. Also, these branded collaborations might only work if there is high brand affinity and if they offer value to gamers.

She said the concept of creating value for Filipino gamers is crucial because when they do spend on microtransactions, the reasons are value-specific, e.g. when there is a sale (50 percent), in-game power-ups (36 percent), gifts (31 percent), a treat for oneself

or someone else (31 percent) and limited-time release (29 percent).

Therefore, branded micro-transactions require a variety of exciting, urgent and emotional messaging to persuade gamers to purchase. According to Newzoo, the global gaming market is expected to generate $189.3 billion in 2024. Asia offers the gaming industry a huge opportunity as it is home to 1.5 million gamers, according to Google, with a $70 billion gaming market. The industry is not losing steam in Southeast Asia either as it is now worth $6.9 billion and backed by 270 million gamers.

Buenaventura said the research aims to offer a better understanding of Filipino gamers and covers four areas: gaming behaviors, gaming preferences, online engagement and advertising and brand attitudes. “While Filipino gamers might experience Internet challenges such as penetration and speed, one should never underestimate the opportunities in gaming.

This research indicates that most gamers can no longer be stereotyped as hermits in their dark rooms. Instead, they are highly mobile and are playing during breaks or during their daily commute, thereby democratizing the gaming experience,” she said.

“To succeed in this space, brands are encouraged to invest in game development or in-store gaming experiences that meet the high expectations of Filipino gamers’ and offer them original, real-world moments,” she added.

Sen. ‘Bong’ Go emphasizes need for proper implementation of social programs for poor

SENATOR Christopher “Bong” Go emphasized the need to properly strengthen social programs for the poor, ensuring that these initiatives are implemented properly without being susceptible to corruption, delays or abuse. With proper implementation, he said that such programs must lead to exit mechanisms from poverty to achieve the goal of fully uplifting the lives of intended beneficiaries.

This pronouncement comes in the wake of a privilege speech made by Senator JV Ejercito during a Senate plenary session, revealing the reported exploitation done by some individuals where poor beneficiaries receive less of the amount intended for them during aid distributions from the government’s social programs.

“Unang-una, ang ayuda po alam n’yo, tinatawag po yan na halimbawa na AICS o Assistance to Individuals in Crisis Situations. Dapat po walang magsasamantala diyan. Ibigay po ang ayuda sa mga nangangailangan,” said Go in an ambush interview on Wednesday, February 27, after aiding fire victims in Manila City.

“Hindi n’yo ‘yan pera, pera ng gobyerno ‘yan, ibalik po sa kanila ang pera nila. AICS, TUPAD, pansamantalang trabaho. Kaya nga po bibigyan natin ng pansamantalang trabaho yung mga nawalan ng trabaho. Dapat makuha nila ang kabuuan na dapat nilang matanggap na ayuda mula gobyerno,” Go articulated. In response to the allegations of misuse of social aid, Go urged for accountability and legal action against those who exploit these programs for their personal benefit at the expense of intended beneficiaries. He highlighted the reports of individuals using multiple IDs to gain undue advantage, thereby disadvantaging the real beneficiaries of these programs.

“Dapat kasuhan, ‘pag nahuli ‘yung nananamantala, ‘yung mga multiple IDs na ginagamit ng isang tao lamang po, ‘wag n’yo pong pagsamantalahan ang kahinaan po ng mga kababayan natin na naghihirap na, mas pinapahirapan pa,” he asserted, calling for stringent measures against such

corrupt practices.

Meanwhile, Go emphasized that if these social programs are implemented properly, free from delays, corruption or abuse, the government can truly meet its goals of helping the poor and eventually providing ‘exit mechanisms’ so that beneficiaries will eventually overcome poverty and live more comfortable lives beyond reliance on government aid.

“Tama naman po ‘yun. Unang-una, dapat po lagyan po ng exit mechanism. Ibig sabihin, dapat rin po, kailangan na rin mag-graduate ang mga mahihirap sa kahirapan at makakuha na rin po sila ng maayos na mga trabaho at sapat na kabuhayan,” he stated. Go elaborated on the need for such programs to evolve from temporary relief to sustainable livelihood support, fostering a culture of hard work and entrepreneurship among Filipinos.

“I think around four million Filipinos walang trabaho, jobless. So, maraming magugutom. May mga pamilya po ‘yan. Kailangan nilang kumain. Umaga, tanghali, at hapunan. Tulungan natin,” urging the government to prioritize job creation and food security as fundamental needs.

“Bigyan natin ang mga Pilipino ng pagkakataon na magkaroon ng trabaho at maayos na pagkakakitaan. Mas masarap sa pakiramdam kapag pinagpawisan at pinaghirapan po ang inyong pagnenegosyo at napalago ninyo ito,” Go previously said. Moroever, Go inspired Filipinos to strive for progress and self-improvement, hinting at the possibility of rising to positions of influence and making significant contributions to the nation’s development.

“Kasi ika nga, pag may tiyaga, may nilaga. Kailangan rin nating turuan ang Pilipino na magtiyaga na maiahon ang pamilya mula sa kahirapan at umunlad. Bukod sa tulong mula sa gobyerno, bigyan natin sila ng mekanismo upang umasenso at mabuhay ng matiwasay. Malay n’yo, pagdating ng panahon, sila rin po ay maging senador ng bayang ito. Sipag lang po at pagmamahal sa kapwa Pilipino ang kailangan,” he remarked.

A4 www.businessmirror.com.ph Monday, March 4, 2024 Economy Subway Speed The P488.5-billion Metro Manila Subway Project (MMSP), receives a boost as Transportation Secretary Jaime J. Bautista (right) welcomes Finance Secretary Ralph G. Recto at a site visit at Valenzuela Depot last Monday, February 26, 2024. During the visit, Recto reaffirmed the commitment of the Department of Finance to secure funding for the third tranche of the MMSP this March even as Bautista reveals an overall project implementation progress rate at 40 percent as of January 2024. The MMSP is a 33-kilometer railway with 17 stations that will connect Valenzuela City to Pasay City with a spur line to Terminal 3 of Ninoy Aquino International Airport (NAIA). DEPARTMENT OF TRANSPORTATION
Special to the BusinessMirror
LARGE number of hospitality establishments are opposed to the new rules issued by the Department of Labor and Employment ( DOLE ), which now requires hotels, restaurants and similar establishments to distribute service charges (SC) they’ve collected to even contractual, non-regular and agency workers. In a Viber message to the Business

‘Linkages to cut PHL reliance on pork imports’

HOG producers’ link and network with institutional markets, such as restaurants and hotels, will lessen their dependence on imported pork, according to Senator Cynthia A. Villar.

“While recognizing the Filipinos’ love for pork,” Villar said, “it is imperative for our hog producers to provide consumers with good quality pork.”

The senator affirms “the love for pork of our kababayans will remain so we need to find a good source of juicy, tender pork with the ideal meat-to-fat ratio at affordable price,” Villar noted in her speech during the National Federation of Hog Farmers (NatFed) National Pig Day Celebration in Quezon City, which kicked off on March 1 and will run up to Marc 5.

The NatFed also set a Guinness Record for the most number of pork dishes on display and to be served.

(Related story: https://businessmirror.com.ph/2024/03/02/phlsets-new-guinness-world-recordfor-most-variety-of-pork-disheson-display/)

During the opening of the Hog

Festival event led by NatFed, the participants served 341 pork dishes. The Philippines surpassed the minimum 300 pork dishes with 313 qualified dishes following the records guidelines. The guidelines include the following: the dishes must be made from pork, the dishes must contain at least three kilograms of pork and each dish must be “unique.”

The chairperson of the Senate committee on agriculture related that Filipinos consumed 15 kilograms of pork, 11.6 kg of chicken and 3 kg of beef a year.

“We Pinoys love to eat meat particularly pork meat. We offer a variety of pork dishes. Some of the favorite pork dishes are lechon, barbecue, adobo, pochero, sinigang na baboy, tokwa at baboy, binagoongan, sisig, and crispy pata, among others.”

According to the Philippine Statistics Authority, as of September 2023, the top five regions with the highest volume of hog production at live weight are Calabarzon, Central Luzon, Northern Mindanao, Central Visayas, Davao Region and Zamboanga Peninsula.

“And about 67.5 percent of the country’s swine population came from small hold farms, while the

UN approves creation of food security and nutrition domain

THE United Nations Statistical Commission approved the creation of a new statistical domain on food security and nutrition statistics, marking the first time the highest standard-setting body in the international statistical system incorporates those topics alongside its existing focus on national accounts, population statistics, and agriculture.

The decision will bolster ongoing efforts by the Food and Agriculture Organization of the United Nations (FAO), the UN Children’s Fund (UNICEF) and the World Health Organization (WHO) on the development and harmonization of food security and nutrition (FSN) data and statistics.

With the creation of this new data domain, the three organizations will appear in front of the UN Statistical Commission every two years to report on the state of FSN data, and support the Commission in establishing and implementing a common agenda to advance work in the area in the coming years.

While those three agencies, along with other UN organizations, member countries and various other institutions, have long worked on and with food security and nutrition data, the world can benefit from further work to solidify existing definitions, methods and recommendations and address important gaps with member states to properly assess the state of food security and nutrition at national, regional and global level.

“This is a very important step in consolidating a more systemic approach and commitment to food security and nutrition, which are central to the mandates of FAO, UNICEF and the WHO. It generates a powerful space for dialogue, discussion and technical debates on the data needed for effective policies and actions between country members and UN agencies,” José Rosero Moncayo, FAO’s Chief Statistician and Director of Statistics Division, Joao

Pedro Azevedo, UNICEF’s Chief Statistician and Stephen Mac Feely, WHO’s Director of Data and Analytics, said in a joint statement.

The UN Statistical Commission is an intergovernmental body that brings together the heads of all UN members’ national statistics authorities. It is responsible for setting statistical standards, developing internationally agreed concepts and methods, and implementing them at the national and international level.

The decision to add a standalone food security and nutrition domain was prompted by the three agencies (FAO, UNICEF and WHO) and policy recommendations endorsed by the Committee on World Food Security, the foremost inclusive international and intergovernmental platform for stakeholders to work together to ensure food security and nutrition for all.

Data collection efforts on food security and nutrition themes have long been led by FAO, UNICEF and WHO agencies along with a proliferation of other regional and nongovernmental initiatives, underscoring the need for validation and harmonization of measurement methods. Broadly speaking, FAO has long provided authoritative data on food insecurity, UNICEF on key nutrition outcomes such as child stunting and diets in children, and WHO on topics related to healthy diets and nutrition.

The creation of the domain will foster a stronger discussion between UN and its members on topics such as closing data gaps that currently exists on food security and nutrition data, strengthening statistical capacities of country members to collect FSN data, foster the use of the existing data for data policy generation and evaluation, and the harmonization of measurement methods.

It will also give a platform to mobilize resources from international donors towards these efforts.

remaining 29.2 percent and 3.3 percent were from commercial and semi-commercial farms, respectively,” Villar said.

However, the senator noted that African swine fever (ASF) continues to threaten hog production in the Philippines.

Vaccine, bills

THE hog sector registered P200 billion in losses since ASF cases were recorded in 2019.

In November 2023, the Bureau of Animal Industry said only 11

provinces out of the 82 remain ASFfree. They are Batanes, Occidental Mindoro, Palawan, Bohol, Siquijor, Biliran, Bukidnon, Basilan, Lanao del Sur, Sulu and Tawi-Tawi.

While the Philippines awaits the approval of a vaccine against ASF, Villar said “we can only rely on our good animal husbandry practices in preventing disease and diseasecausing agents to spread for our hog farmers to earn, attain their maximum farm yield, protect the consumer food supply by making available clean and safe hogs for

slaughter.”

Agriculture Secretary Francisco

P. Tiu Laurel Jr. expressed optimism that the ASF vaccine be available in the country before yearend.

Laurel said over the weekend that a Vietnamese and an American company are now seeking Food and Drug Administration accreditation for their ASF vaccines while another Vietnamese firm and Thai firm are also planning to apply for vaccine approval.

“The good news is there are already vaccines that are on the way that may be accredited within the year by the FDA with assistance from DA,” he said. “Hopefully, we can eradicate ASF by next year.”

ASF has significantly reduced local swine production, with yearend inventory falling to 9.94 million heads in 2021, from a record high 12.8 million hogs in 2020.

Most of the reduction came from small holds whose inventory dropped to 7.18 million in 2022 from a high of 9.44 million in 2020. At the end of September last year, total inventory declined to 9.86 million heads from 10.1 million in the same period in 2022.

Laurel said the DA is collaborating with scientific institutions

and industry experts “to drive the development of innovative solutions for ASF management and eventual eradication.” He said the agency is also engaging other nations to draw from their experiences and best practices in successfully managing, if not eradicating, ASF.

“We understand the financial strain on our farmers and we’re committed to providing financial assistance and support programs. Additionally, extensive public awareness campaigns is a priority to educate farmers, industry stakeholders, and the public about preventive measures against ASF. Knowledge is a powerful tool, and through awareness, we aim to empower everyone to contribute to the eradication of ASF.”

Villar also renewed her call to stop agricultural smuggling to protect local hog producers. She is asking both houses of Congress to finish the bicameral conference on Anti-Agricultural Economic Sabotage Bill.

She urged Congress to pass the Livestock Poultry and Dairy Bill and the Corn Bill soonest to finance the strengthening of the industries from tariffs collected on imported animal products and feeds.

Solon asks PCA to hasten forging of MOAs with local govts

HE Philippine Coconut Authority (PCA) must expedite the forging of memorandums of agreement (MOA) with local government units (LGUs) for the agency’s replanting project, according to a lawmaker.

Camarines Sur Rep. LRay Villafuerte said the MOAs will “foster collaboration” on planting, replanting, seed farm development and coconut fertilization initiatives that the agency will undertake to revitalize the local coconut sector.

Villafuerte also said he supports the plan of the PCA to plant some 8.5 million seedlings this year alone in support of the government’s goal of planting 100 million trees by 2028 as part of the rehabilitation program for this sector.

“LGUs in coconut-producing provinces can perform a vital role in transforming the PCA’s ambitious planting and replanting project into a vehicle for reviving this once booming sector as the world’s No. 1 exporter

of coconut products,” he said.

“The all-out support of LGUs in coconut-producing localities behind the PCA’s development and rehabilitation plan is crucial to re-energizing this previously flourishing sector and lifting from poverty our coconut farmers, in step with the President’s ‘walang maiiwanan’ commitment not to leave any Filipino behind in his vision for a peaceful and prosperous nation.”

Villafuerte noted that an overwhelming majority of 2.5 million coconut farmers, representing a sizable part of the country’s farm population, are already living below the poverty threshold.

“And many more will join them there in the years ahead without any hope of deliverance—unless the Marcos government makes good on its PCA program to reverse in the long term the economic slump hounding this once formidable export sector.”

PCA Administrator Bernie Cruz revealed plans to plant 8.5 million coconut seedlings this year under the Massive Coconut

Planting and Replanting Project, addressing the senility of existing coconut trees.

The President had ordered the PCA to craft a rehabilitation plan for the coconut industry, including the planting of 100 million trees by 2028, so the Philippines could become the world’s biggest coconut exporter.

The lawmaker said a massive replanting program using hybrid varieties and giving farmers easier access to already available production technologies will easily double per-tree yields, thereby significantly boosting domestic production and increasing the income of local coconut farmers.

As of 2019, about 90 percent of coconut farmers lived below the annual poverty threshold of P125,775; a majority of these tillers listed in the National Coconut Farmers Registry are food insecure and without social protection.

Filipino coconut farmers are getting poorer, because the country’s per-tree productivity has been on a downtrend from 46 nuts per tree per year in 2009 to 44 in 2019—as against 80 to 100 nuts in India

DA chief announces additional appointments

AGRICULTURE Secretary Francisco

P.

Coffee craze forces Asia’s big exporters to buy Brazilian beans

SOME of Asia’s biggest coffee-producing nations are finding it more challenging to satisfy the caffeine cravings in their home markets.

From the streets of Ho Chi Minh City to the cafes of Jakarta, consumers are rapidly developing a taste for coffee, and that’s transforming Asian producers into large buyers. While Vietnam and Indonesia still rank as major shippers, they are increasingly sourcing coffee from agriculture powerhouse Brazil to meet the consumption boom.

“It’s pretty remarkable how people love their coffee,” consultant Judy Ganes said,

referring to Indonesia’s thriving cafe culture. Innovative drinks such as a coffee-avocado mix have enticed new consumers—part of a growing movement across Asia as increases in disposable income foster coffee consumption, she added.

Both Indonesia and Vietnam, big growers of the bitter robusta variety favored to make espresso and instant drinks, prefer to export their coffee production while importing for domestic consumption—their own beans are more expensive than Brazil’s. Coffee’s cool factor at home is a good indication that the imports will continue, especially after

extreme weather and insufficient yields over the past years have weighed on global production.

The world’s largest coffee trader, Neumann Kaffee Gruppe, is betting on the shift, opening an import office in Indonesia as it expects demand there will eventually be higher than what the nation’s crops will be able to handle.

Indonesian coffee consumption grew about 4 percent annually over the past decade, according to the local exporters association. That’s higher than the 2.2-percent growth in global demand expected this year

by the International Coffee Organization, following a period of ups and downs during the pandemic era.

Shipments from Brazil to Indonesia, the world’s fourth-largest producer, more than doubled last year, according to Cecafé.

“The potential for growth is still very large, especially because consumption per capita is lower than in other parts of the world,” said Márcio Ferreira, chairman of the exporters group. As coffee-drinking habits flourish, Indonesia’s bean production has mostly stalled. Demand may exceed output within

functions in the formulation, amendments, or revisions of regulatory policies or issuances to ensure harmonization of DA regulations.

Also appointed by Laurel were:

n Assistant Secretary Noel Padre as assistant secretary for Planning and Project Development;

n Arthur Dayrit, Ph.D., as regional technical director for operations at the Regional Field Office (RFO) 3;

n Dr. Irene Adion as officer-in-charge of the Regional Technical Director for Research, Regulations and Integrated Laboratory Sessions at RFO 3;

n Fidel Libao as regional technical

the next five to eight years if the same pace continues, said Moelyono Soesilo, head of downstream coffee industry at the Association of Indonesian Coffee Exporters and Industries.

The group is seeking to help farmers manage their estates, looking to boost yields above the current level of 1.1 metric tons per hectare. In comparison, areas that produce a similar coffee variety in Brazil have yields of about 2.5 tons per hectare, according to crop agency Conab. Meanwhile, shipments from Brazil to Vietnam are also surging—jumping more than sixfold in the 12 months ended in January, Cecafé reported. Imports from the South American country

and Indonesia. Villafuerte said coconut productivity is even worse in CamSur, where, because of the large number of old or senile trees there, the current annual yield average is a lower 34 nuts per tree. Even without replacing the standing trees, he said giving farmers access to already existing technologies to raise output and to inputs like fertilizer will already improve their yields, given that the Philippines’s yield average of 44 nuts per tree represents just 50 percent of the potential yield of the native tall variety and 30 percent of local hybrid varieties.

Citing data from the Philippine Statistics Authority (PSA), Villafuerte said the country’s coconut production fell to an average of 14 million metric tons (MMT) in the past three years from 15.86 MMT in 2012. This allowed Indonesia and India to overtake the Philippines, which used to be known as the world’s top coconut producer.

Despite falling harvests, he said the Philippines still managed to export $3.22 billion worth of coconut products in 2022.

director for operations at RFO 4-A;

n Celso Olido, Ph.D., as regional technical director for research and regulation at RFO 4-B;

n Maria Melba Wee as regional technical director for operations at RFO 9;

n Maria Gemma Genaldo as officerin-charge of regional technical director for research, regionals and integrated lab services at RFO 9;

n Engr. Redeliza Gruezo as officer-incharge of regional technical director for research and regulations, in concurrent capacity as chief, field operations division at RFO 4-A;

n Lawyer and director 4 Jennilyn Dawayan as regional executive director at RFO Cordillera Administrative Region; and

n Vener Dalig as regional technical director for operations at RFO 4-B.

are serving Vietnam’s instant coffee industry, said Trinh Duc Minh, head of the Buon Ma Thuot Coffee Association in Dak Lak province. Some companies have imported beans to honor signed contracts and make roasted coffee as well, said Tran Thi Lan Anh, deputy director of second-largest exporter Vinh Hiep Co. Weather is helping bring more imports to the region. The El Niño phenomenon has brought extreme dryness to Southeast Asia this season, reducing production in Vietnam and Indonesia and causing a spike in local prices. Vietnam coffee is currently trading at more than a $30 premium to Brazilian beans, making South American purchases even more attractive. Bloomberg News

A5 Monday, March 4, 2024 www.businessmirror.com.ph
Tiu Laurel Jr. has designated lawyer Paz Benavidez II as assistant secretary for policy and regulations. One of the primary tasks of Benavidez will be to head the secretariat of the Department of Agriculture’s (DA) oversight panel on the issuance of regulations, a body created in compliance with provisions of the Anti-Red Tape Act. Prior to lawyer Benavidez’s new assignment, Laurel issued Administrative Order 1 which sets guidelines on the conduct of Regulatory Impact Assessment, or RIA, for proposed DA regulations. Undertaking RIA, according to ARTA, will ensure regulations are subjected to proper consultations and evidence-based analysis before their issuance. The RIA process is expected to help government agencies, local government units and other government instrumentalities to pass sound and effective regulations that provide the most benefit to Filipinos. The administrative order issued by the agri chief also sets up a Regulatory Clearinghouse System to subject draft regulatory policies and guidelines to review. The DA’s Policy Research Service will conduct the initial review before forwarding it to the Assistant Secretary for Policy and Regulations to ensure they are consistent with other regulations. The Undersecretary for Policy, Planning and Regulations has been designated to exercise oversight
SENATOR Cynthia Villar and QC Mayor Joy Belmonte enjoy recipes from the participating booths at the HOGs Festival which broke the Guinness record on largest hogs recipes in one day at Gateway Mall, Araneta Center. BERNARD TESTA

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Republic of the Philippines DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 March 04, 2024 NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S) Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s: NO. ESTABLISHMENT NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION QUALIFICATION AND SALARY RANGE 1 BO CHENG RUBBER PHILIPPINES INC. Phase 3, Block 5, Lot 3, Lima Technology Center, San Fernando, Malvar, Batangas YOU, KAI Engineering Manager Brief Job Description: Responsible for managing ang overseeing daily operations of engineering work Basic Qualification: Must be knowledgeable in Engineering matter Salary Range: Php 30,000 - Php 59,999 2 BO CHENG RUBBER PHILIPPINES INC. Phase 3, Block 5, Lot 3, Lima Technology Center, San Fernando, Malvar, Batangas PAN, JUNHUA Factory Affairs In-charge Brief Job Description: Responsible in managing and overseeing factory work Basic Qualification: Must be knowledgeable in rubber printing company Salary Range: Php 30,000 - Php 59,999 3 BO CHENG RUBBER PHILIPPINES INC. Phase 3, Block 5, Lot 3, Lima Technology Center, San Fernando, Malvar, Batangas
GUANGJING Machine Technician Officer Brief Job Description: Responsible for doing technical support in factory Basic Qualification: Must be knowledgeable in maintenance and rubber company Salary Range: Php 30,000 - Php 59,999
ZHAO,
FCTEC PHILIPPINES MANUFACTURING AND TRADING INC. Block 4, Lot 4, Onda Compound, People’s Technology Complex, Maduya, Carmona, Cavite ISHIBA, TOSHIYA General Manager Brief Job Description: Responsible for improving efficiency and increasing departmental profits while managing the company’s overall operations Basic Qualification: Must have at least 5 years experience in manufacturing company Salary Range: Php 90,000 - Php 149,999
GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite KHIN WIN HTWE Burmese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Burmese language Salary Range: Php 30,000 - Php 59,999
GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite MYO MYINT LWIN Burmese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Burmese language Salary Range: Php 30,000 - Php 59,999
GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite SAI HAN PHA Burmese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Burmese language Salary Range: Php 30,000 - Php 59,999 NO. ESTABLISHMENT NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION QUALIFICATION AND SALARY RANGE 8 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite SAN SAI CHEE Burmese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Burmese language Salary Range: Php 30,000 - Php 59,999 9 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite THIHA KYAW Burmese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Burmese language Salary Range: Php 30,000 - Php 59,999 10 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite ZARNI OO Burmese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Burmese language Salary Range: Php 30,000 - Php 59,999 11 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite MARTINS BERTAO, JENNIFER VITORIA Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Brazilian language Salary Range: Php 30,000 - Php 59,999 12 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite LIM TAO SHEN Malaysian Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Malaysian language Salary Range: Php 30,000 - Php 59,999 13 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite CHEN, TSAI-YU a.k.a. CHEN, YU LIN Taiwanese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Taiwanese language Salary Range: Php 30,000 - Php 59,999 14 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite CAO THI HIEN Vietnamese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Vietnamese language Salary Range: Php 30,000 - Php 59,999 15 GLARION TECHNOLOGIES CORPORATION Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite DINH THI MAI Vietnamese Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries Basic Qualification: Able to speak, read and write Chinese and Vietnamese language Salary Range: Php 30,000 - Php 59,999 BusinessMirror A6 www.businessmirror.com.ph Monday, March 4, 2024
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The World

US military cargo planes airdrop thousands of meals into Gaza in emergency humanitarian aid operation

WASHINGTON—US military C-130 cargo planes dropped food in pallets over Gaza on Saturday in the opening stage of an emergency humanitarian assistance authorized by President Joe Biden after more than 100 Palestinians who had surged to pull goods off an aid convoy were killed during a chaotic encounter with Israeli troops.

Three planes from Air Forces Central dropped 66 bundles containing about 38,000 meals into Gaza at 8:30 a.m. EST (3:30 p.m. local). The bundles were dropped in southwest

Gaza, on the beach along the territory's Mediterranean coast. The airdrop was coordinated with the Royal Jordanian Air Force, which said it had two food airdrops Saturday in northern Gaza and has conducted several rounds in recent months.

“The amount of aid flowing to Gaza is not nearly enough and we will continue to pull out every stop we can to get more aid in,” President Joe Biden said Saturday in a post on the social media site X, formerly known as Twitter. US Central Command said on X that "the combined operation included US Air Force and RJAF C-130 aircraft and respective Army Soldiers

specialized in aerial delivery of supplies, built bundles and ensured the safe drop of food aid."

The US airdrop is expected to be the first of many.

Three Biden administration officials said the planes dropped the military Meals Ready to Eat (MREs)— shelf-stable meals that contain a day’s worth of calories in each sealed package—in locations that were thought would provide civilians with the greatest level of safety to access aid. Afterward, the US monitored the sites and was able to see civilians approach and distribute food among themselves, according to the officials, who spoke on the condition of anonymity

to provide additional details that had not been made public.

Biden on Friday announced the US would begin air dropping food to starving Gazans after at least 115 Palestinians were killed and hundreds more wounded in the Thursday attack as they scrambled for aid, the Health Ministry in Hamas-ruled Gaza said.

Hundreds of people had rushed about 30 trucks bringing a predawn delivery of aid to the north. Palestinians said nearby Israeli troops shot into the crowds. Israel said they fired warning shots toward the crowd and insisted many of the dead were trampled.

White House national security

spokesperson John Kirby said Friday that the airdrops were being planned to deliver emergency humanitarian assistance in a safe way to people on the ground. The United States believes the airdrops will help address the dire situation in Gaza, but they are no replacement for trucks, which can transport far more aid more effectively, though Thursday's events also showed the risks with ground transport.

Kirby said the airdrops have an advantage over trucks because planes can move aid to a particular location very quickly. But in terms of volume, the airdrops will be “a supplement to, not a replacement

for moving things in by ground.”

The C-130 is widely used to deliver aid to remote places because of its ability to land in austere environments. A C-130 can airlift as much as 42,000 pounds of cargo and its crews know how to rig the cargo, which sometimes can include even vehicles, onto massive pallets that can be safely dropped out of the back of the aircraft.

Air Force loadmasters secure the bundles onto pallets with netting that is rigged for release in the back of a C-130, and then crews release it with a parachute when the aircraft reaches the intended delivery zone.

BusinessMirror
Monday, March 4, 2024 A7

The World

US says Israel has agreed to the framework for Gaza cease-fire; Hamas must now decide

RAFAH, Gaza Strip—Israel has essentially endorsed a framework of a proposed Gaza cease-fire and hostage release deal, and it is now up to Hamas to agree to it, a senior US administration official said Saturday, a day before talks to reach an agreement were to resume in Egypt.

northern Gaza, which has borne the brunt of the conflict that began when the Hamas militant group attacked southern Israel on Oct. 7, killing 1,200 people, mostly civilians, and seizing around 250 hostages.

US military planes began the first airdrops of thousands of meals into Gaza, and the militaries of Jordan and Egypt said they also conducted airdrops. Aid groups say airdrops should be only a last resort and instead urge the opening of other crossings into Gaza and the removal of obstacles at the few that are open.

harmed people intentionally are baseless.”

Residents in northern Gaza say they are searching rubble and garbage for anything to feed their children, who barely eat one meal a day. Many families have begun mixing animal and bird food with grain to bake bread.

continuing to push this as hard as we possibly can,” the official said, speaking on condition of anonymity under ground rules set by the White House to brief reporters.

Officials from Israel and from Hamas did not immediately respond to requests for comment.

A senior Egyptian official said mediators Egypt and Qatar are expected to receive a response from Hamas during the Cairo talks scheduled to start Sunday. The official spoke on condition of anonymity because he was not publicly authorized to discuss the talks.

There is increasing criticism over the hundreds of thousands struggling to survive in

The European Union's diplomatic service said many of the hundreds of Palestinians killed or wounded in the chaos surrounding an aid convoy on Thursday were hit by Israeli army fire and urged an international investigation. It said responsibility for the crisis lay with “restrictions imposed by the Israeli army and obstructions by violent extremist(s) to the supply of humanitarian aid.”

Gaza’s Health Ministry raised the death toll from Thursday’s violence to 118 after two more bodies were recovered Saturday. It said the wounded remained at 760.

Israel’s chief military spokesperson, Rear Adm. Daniel Hagari, said Israel organized Thursday’s convoy, “and claims that we attacked the convoy intentionally and that we

KYIV,

Odesa

Kharkiv

He said there were no casualties, but that three people suffered an “acute stress reaction.”

In the partly occupied Kherson region,

Russian artillery shelling killed a 53-yearold man on Saturday morning, the Kherson regional prosecutor’s office said.

In Russia, a drone crashed into an apartment building in St. Petersburg on Saturday morning, according to Russian state news agency RIA Novosti.

Six people received medical help after the explosion rocked the building, the agency said, citing the press service of the city's health care committee.

The Mash news site said that a Ukrainian drone hit the apartment building. The Associated Press could not verify this claim.

The site published videos appearing to show the moment the apartment building was struck, showing a strong flash of light engulfing one side of the building and fragments of debris flying into the air. Another video showed car alarms going off.

Russia's Defense Ministry has not commented on the incident.

In Russia's Bryansk region, bordering Ukraine, an investigative team came under attack by a Ukrainian drone, according to the Russian Investigative Committee. Two members of the team were wounded and two others suffered shock, the committee wrote on Telegram.

At least 10 children have starved to death, according to hospital records in Gaza, the World Health Organization said.

Gaza’s Health Ministry said the Palestinian death toll from the war has climbed to 30,320. The ministry doesn't differentiate between civilians and combatants in its figures, but says women and children make up around two-thirds of those killed.

In the southernmost city of Rafah, where more than half of Gaza’s people now seek refuge, an Israeli airstrike struck tents outside the Emirati hospital, killing 11 people and wounding about 50, including health workers, the Health Ministry said. Israel’s military said it was targeting Islamic Jihad militants.

Israel’s air, sea and ground offensive has reduced much of densely populated northern Gaza to rubble. The military told Palestinians to move south, but as many as 300,000 people are believed to have remained.

Roughly one in six children under 2 in the north suffer from acute malnutrition and wasting, “the worst level of child malnutrition anywhere in the world,” Carl Skau, deputy executive director of the World Food Program, said this week. “If nothing changes, a famine is imminent in northern Gaza.”

People have overwhelmed trucks and grabbed what they can, Skau said, forcing the WFP to suspend deliveries to the north.

In the violence Thursday, people rushed about 30 trucks bringing a predawn delivery to the north. Palestinians said nearby Israeli troops shot into the crowds. Israel said they fired warning shots toward the crowd and insisted many of the dead were trampled. Doctors at hospitals in Gaza and a UN team that

Ship hit by Yemen’s Houthi rebels sinks in Red Sea, first vessel lost in the conflict

DUBAI, United Arab Emirates—A ship attacked by Yemen's Houthi rebels has sunk in the Red Sea after days of taking on water, officials said Saturday, the first vessel to be fully destroyed as part of their campaign over Israel's war against Hamas in the Gaza Strip.

The sinking of the Rubymar, which carried a cargo of fertilizer and previously leaked fuel, could cause ecological damage to the Red Sea and its coral reefs.

Persistent Houthi attacks have already disrupted traffic in the crucial waterway for cargo and energy shipments moving from Asia and the Middle East to Europe. Already, many ships have turned away from the route.

The sinking could see further detours and higher insurance rates put on vessels plying the waterway — potentially driving up global inflation and affecting aid shipments to the region.

The Belize-flagged Rubymar had been drifting northward after being struck by a Houthi anti-ship ballistic missile on February 18 in the Bab el-Mandeb Strait, a crucial waterway linking the Red Sea and the Gulf of Aden.

Yemen's internationally recognized government, as well as a regional military official, confirmed the ship sank. The official spoke on condition of anonymity as no authorization was given to speak to journalists about the incident.

The British military’s United Kingdom Maritime Trade Operations center, which watches over Mideast waterways, separately acknowledged the Rubymar’s sinking Saturday afternoon.

The US military’s Central Command said early Sunday the Rubymar sank at 2:15 a.m. local time Saturday. It released an image of the vessel on its side as it was sinking.

"The approximately 21,000 metric tons of ammonium phosphate sulfate fertilizer that the vessel was carrying presents an environmental risk in the Red Sea," it said in a statement. “As the ship sinks it also presents a subsurface impact risk to other ships transiting the busy shipping lanes of the waterway.”

The Rubymar’s Beirut-based manager did

visited a hospital said large numbers of the wounded had been shot.

Ahmed Abdel Karim, being treated for gunshot wounds in his feet, said he had spent two days waiting for aid trucks to arrive.

“Everyone attacked and advanced on these trucks. Because of the large number, I could not get flour,” he said.

Radwan Abdel-Hai, a father of four young children, heard a rumor late Wednesday that an aid convoy was on its way. He and five others took a donkey cart and found a “sea of people” waiting.

“Tanks started firing at us,” he said. “As I ran back, I heard tank shells and gunfire. I heard people screaming. I saw people falling to the ground, some motionless.” Many were shot in the back, he said.

Soad Abu Hussein, a widow and mother of five, said more than 5,000 people—mostly women and children—living with her in a school at the Jabaliya refugee camp have not received aid for more than four weeks. A group of people went to the shore to fish, but three were killed and two were wounded by gunfire from Israeli ships, she said.

The Israeli military did not immediately respond to a request for comment.

Mansour Hamed, a 32-year-old former aid worker living with more than 50 relatives in a Gaza City house, said some are eating tree leaves and animal food. It has become normal to find a child emerging from the rubble with a rotten piece of bread, he said.

Acknowledging the extreme need for food, US President Joe Biden said the US would look for other ways of delivery “including possibly a marine corridor.”

Also Saturday, Israel said three soldiers were killed and 14 injured Friday when they inadvertently triggered explosives in a boobytrapped building outside Khan Younis in southern Gaza. Magdy reported from Cairo. Associated Press writers Tara Copp and Seung Min Kim in Washington contributed to this report.

roring earlier video taken of the vessel.

The private security firm Ambrey separately reported Friday about a mysterious incident involving the Rubymar.

not respond to a request for comment.

Yemen’s exiled government, which has been backed by a Saudi-led coalition since 2015, said the Rubymar sank as stormy weather took hold over the Red Sea. The vessel had been abandoned for 12 days after the attack, though plans had been made to try and tow the ship to a safe port.

The Iran-backed Houthis had falsely claimed the ship sank almost instantly after the initial attack. Late Saturday, a Houthi leader tried to blame British Prime Minister Rishi Sunak over the Rubymar.

“You have an opportunity to salvage the ship M/V Rubymar by guaranteeing...that the relief trucks agreed upon at that time would enter Gaza,” Mohammed al-Houthi wrote in an online message.

Ahmed Awad Bin Mubarak, the prime minister of Yemen's internationally recognized government, called the ship’s sinking “an unprecedented environmental disaster.”

“It’s a new disaster for our country and our people,” he wrote on X, formerly Twitter. “Every day, we pay for the Houthi militia’s adventures, which were not stopped at plunging Yemen into the coup disaster and war.”

Greenpeace also raised concerns about the ship sinking.

“Without immediate action, this situation could escalate into a major environmental crisis,” said Julien Jreissati, program director at Greenpeace MENA.

“As well as any

“A number of Yemenis were reportedly harmed during a security incident which took place” on Friday, Ambrey said. It did not elaborate on what that incident involved and no party involved in Yemen's yearslong war claimed any new attack on the vessel.

A satellite image taken Friday from Maxar Technologies showed new blast damage on the Rubymar not previously seen, with no other vessels around it. Additional satellite images taken Saturday by Planet Labs PBC of the area the Rubymar had been in recent days no longer showed the vessel.

Since November, the rebels have repeatedly targeted ships in the Red Sea and surrounding waters over the Israel-Hamas war. Those vessels have included at least one with cargo bound for Iran, the Houthis’ main benefactor, and an aid ship later bound for Houthicontrolled territory.

Despite over a month of US-led airstrikes, Houthi rebels have remained capable of launching significant attacks. That includes the attack on the Rubymar and the downing of an American drone worth tens of millions of dollars. The Houthis insist their attacks will continue until Israel stops its combat operations in the Gaza Strip, which have enraged the wider Arab world and seen the Houthis gain international recognition.

The attacks have also disrupted aid shipments to both Yemen and Sudan, which is gripped by its own monthslong war. In recent days, the International Rescue Committee said it suspended its aid shipments to Port Sudan through the Red Sea over long delays and drastically increased costs.

However, there has been a slowdown in attacks in recent days. The reason for that remains unclear. Between four to eight US and allied warships now patrol the Red Sea on any given day, said Maj. Pete Nguyen, a Defense Department spokesperson.

On Saturday, the Italian Defense Ministry said one of its vessels, the destroyer Caio Duilio, shot down a suspected Houthi drone in selfdefense that appeared to be flying toward it.

"The terrorist attacks by the Houthis are a serious violation of international law and an attack on the safety of maritime traffic, on which our economy depends," the ministry said. Associated Press writer Samy Magdy in Cairo contributed to this report.

BusinessMirror
Monday, March 4, 2024 A8 www.businessmirror.com.ph
Ukraine—Seven people were killed when debris from a Russian drone hit an apartment block in the southern Ukrainian port city of Odesa overnight, Ukraine's State Emergency Service said Saturday. A 3-month-old baby was among the dead.
further eight people were injured, authorities said.
A
regional Gov. Oleh Kiper said the Shahed drone was shot down by Ukrainian air defenses, and that the falling debris hit the apartment building.
Armed Forces reported that the Odesa region was attacked by eight drones, of which seven were shot down by air defenses. Across the country, air defenses shot down 14 of 17 drones launched against Ukraine, according to the armed forces.
Ukraine’s
regional Gov. Oleh Syniehubov reported Saturday morning that over 20 settlements in the eastern Ukrainian province had sustained Russian artillery and mortar attacks, while high-rise buildings in the regional capital, also called Kharkiv, were damaged by a drone attack.
further leaks of fuel oil from the engines, the sinking of the vessel could further breach the hull, allowing water to contact with the thousands of tons of fertilizer, which could then be released into the Red Sea and disrupt the balance of the marine ecosystems, triggering cascading effects throughout the food web.” The Houthis have held Yemen's capital, Sanaa, since 2014, expelling the government. The rebels have fought a Saudi-led coalition since 2015 in a stalemated war. Satellite pictures analyzed by The Associated Press from Planet Labs PBC showed smaller boats alongside the Rubymar on Wednesday. It wasn’t immediately clear whose vessels those were. The images showed the Rubymar’s stern sinking into the Red Sea but still afloat, mirRussian drone attack kills 7 in Ukrainian city of Odesa, including 3-month-old baby Palestinians wounded in an israeli strike while waiting for humanitarian aid on the beach in Gaza City are treated in shifa Hospital in Gaza City on thursday, February 29, 2024. AP Photo/M A h M o ud Ess A
International mediators have been working for weeks to broker a deal to pause the fighting before the Muslim holy month of Ramadan begins around March 10. A deal would likely allow aid to reach hundreds of thousands of desperate Palestinians in northern Gaza who aid officials worry are under threat of famine. The Israelis “have more or less accepted” the proposal, which includes the six-week cease-fire as well as the release by Hamas of hostages considered vulnerable, which includes the sick, the wounded, the elderly and women, said the official.
now, the ball is in the court of Hamas and we are
“Right
u k r A in iAn E M Erg Ency
E o ffic E v iA A P
in this photo provided by the Ukrainian emergency service, emergency workers clear the rubble on the site of a destroyed multi-store building after a Russian attack on residential neighborhood in Odesa, Ukraine on saturday, March 2, 2024.
sErvic

The World

US congressional leaders sound alarm as russian artillery strikes Ukraine while House republicans delay military aid

WASHINGTON—Ukrainian drones fly without ammunition. Russian artillery unleash deadly volleys from safe positions beyond the range of Kyiv’s troops. Shortages of ammo and supplies are resulting in lost ground to Moscow, US congressional leaders warn, yet the Republican-controlled House has shown little hurry to resupply Ukraine with military aid.

Across Washington, officials are viewing the drop-off in ammunition shipments with increasing alarm. It’s now been over two months since the US—which since World War II has fashioned itself as the “Arsenal of Democracy”—last sent military supplies to Ukraine.

But House Speaker Mike Johnson appears determined to chart his own course away from a $95 billion foreign aid package passed by the Senate—a decision that could stall the package for weeks to come after an already arduous months-long wait in Congress.

With US military shipments cut off, Ukrainian troops withdrew from the eastern city of Avdiivka last month, where outnumbered defenders had withheld a Russian assault for four months. Delays in military support from the West are complicating the task for Kyiv's military tacticians, forcing troops to ration ammunition and ultimately costing the lives of Ukrainian soldiers.

“If Ukraine gets the aid they will win. If they don’t get the aid they will lose—with dire consequences to the United States,” said Senate Majority Leader Chuck Schumer, who visited Ukraine last week.

Defense officials are discussing options, which include possibly tapping existing stockpiles even before Congress approves funding to replenish them, according to Sen. Jack Reed, the chair of the Senate Armed Services Committee. And at a White House meeting this week, President Joe Biden, the two top Democrats in Congress and Senate Republican Leader Mitch McConnell all took turns intensely urging Johnson to take up a Senate-passed package that would provide $60 billion worth of assistance for Kyiv.

So far, the Republican speaker has refused.

The Louisiana Republican—just

four months into the powerful job as speaker, second in the line to the presidency—is under intense pressure from all sides. The leaders of 23 European parliaments have signed an open letter urging him to pass the aid. And within his own House ranks, senior Republicans are growing restive at the inaction, even as other far-right members have threatened to try to remove him from leadership if he advances the aid for Kyiv.

“The House is actively considering options on a path forward, but our first responsibility is to fund the government and our primary, overriding responsibility—and it has been for the last three years—has been to secure the border,” Johnson said at a news conference.

Johnson responded to the pressure on Ukraine by saying the House had only received the funding legislation in mid-February after the Senate took four months to negotiate, including enforcement policies at the US-Mexico border. The deal on border security swiftly collapsed after Republicans, including Johnson, criticized the proposal as insufficient. Yet Johnson and other House Republicans are once again hoping to secure some policy wins on border security.

When Ukrainian President Volodymyr Zelenskyy visited Congress late last year, he told Johnson that the military aid would last into February. But as Congress entered March, Johnson so far has allowed House members to craft their own proposals and revealed little on his plans for the package.

“We’re beyond the time frame that this should have taken, this analysis and careful consideration by the House should have been completed before the end of the year or very shortly after the new year,” said Rep. French Hill, an Arkansas Republican. Hill and several other senior Re -

publicans are pressing Johnson to act by crafting a new national security package in the House. That bill, which is being drafted by Foreign Affairs Committee Chairman Michael McCaul and key appropriators, is expected to come in less than the $95 billion Senate package but include many similar provisions—including money that Ukraine, Israel and IndoPacific allies could use to purchase US military equipment, as well as some humanitarian assistance.

It may also include a version of the Rebuilding Economic Prosperity and Opportunity for Ukrainians, or REPO Act, which would allow the US to tap frozen Russian central bank assets to compensate Ukraine for damages from the invasion, Hill said. He said it would save taxpayer dollars in the long run and help gain Republican votes in the House.

“This is more a matter of finding out the way to move forward,” said seasoned Rep. Tom Cole, R-Okla., the chairman of the Rules committee. “But a substantial majority of both houses of Congress wants to help Ukraine. You had 70 over there,” he said about the robust Senate support, “and the vote here will be well north of 300.”

Rep. Annie Kuster of New Hampshire, who leads a caucus of centrist Democrats called New Dems, said many in her party are ready to help Johnson pass a military aid package if he brings it to the floor. But she said the bill already passed by the Senate would have the broadest support.

“We’re at a critical moment right now, and I encourage Speaker Johnson to work with us,” Kuster said. “He has such a slim majority.”

Meanwhile, any decision by the Pentagon to send Ukraine weapons before Congress approves funding is fraught with risk. Since there is no money to replenish the equipment and weapons sent, the military would

be depleting its stockpiles and potentially risking harm to unit readiness for war.

In addition, there are worries that action from the Pentagon could dissuade Congress from moving quickly on the funding bill.

Reed said it would make more sense for Congress to pass the supplemental package, because then the Pentagon “could immediately order the equipment they’re drawing down. We run the risk without that of drawing down the equipment and not being able to replace it or being confident of replacement.”

But he added, “There might be circumstances where the president would decide to ship equipment like ATACMS, even though it would be a difficult judgment.”

The US has sent medium-range ATACMS (Army Tactical Missile Systems) as well as HIMARS (High Mobility Artillery Rocket Systems). But there has been pressure for the US to send longer-range ATACMS. The US has resisted out of concerns Moscow would consider them escalatory, since they could reach deeper into Russia and Russian-held territory. Ukrainian leaders, however, could use the longer-range missiles to disrupt Russian supply lines—a capability that is seen as essential as Russian President Vladimir Putin looks to surge more troops this spring.

Ukraine also has made it clear that its forces also need additional artillery, including 155 mm howitzer rounds, as well as air defense ammunition.

Ukrainian officials have expressed confidence they can withstand a Russian offensive for several more months, said Shelby Magid, deputy director of the Eurasia Center at the Atlantic Council, which advocates for American cooperation with Europe. Yet she added that the Pentagon's consideration of using drawdown authority sent a somber message that officials view the conflict as having direct implications for US national security.

Some are warning that if Congress fails to provide the aid, US troops will next be called on to help defend NATO allies.

Schumer said that during his trip to Ukraine, “One leading American said to me if we don’t get the aid, Russian tanks could be at the Polish border by December.” Associated Press writer Lolita C. Baldor contributed.

Asia’s richest man celebrates son’s prenuptials with star-studded bash

NEW DELHI—What happens when the son of Asia’s richest man is about to get married?

His father throws a three-day prenuptial bash four months before the actual ceremony.

Tycoons from around the world, heads of state, as well as Hollywood and Bollywood stars descended on the small western Indian city of Jamnagar on Friday where billionaire industrialist Mukesh Ambani is kickstarting a big fat wedding celebration for his youngest son.

The nearly 1,200-person guest list includes pop superstar Rihanna, Bill Gates, Mark Zuckerberg, Sunder Picha, Ivanka Trump and Bollywood celebrity Shah Rukh Khan. All eyes are on Anant Ambani, 28, and his long-time girlfriend Radhika Merchant, 29, who will tie the knot in July. Radhika is the daughter of Viren Merchant, CEO of Encore Healthcare Pvt. Ltd., and entrepreneur Shaila Merchant.

Such festivities keep up with the Ambani family's tradition of lavish and over-the-top parties while displaying the Indian billionaire’s economic and political clout

Here is everything you need to know about the family and the bash that captivated the country.

Who is Mukesh Ambani?

Mukesh Ambani, 66, is currently the world's 10th richest man with a net worth of $115 billion, according to Forbes. He is also the richest person in Asia. His Reliance Industries is a massive conglomerate, reporting over $100 billion in annual revenue, with interests ranging from petrochemicals, and oil and gas to telecoms and retail.

Under Ambani’s leadership, Reliance—founded by his father in 1966—sparked a telecom price war with the launch of the 4G phone and broadband service Jio in 2016. Today, it has more than 420 million subscribers and offers 5G services. Earlier this week, Disney struck an $8.5 billion deal to merge its India business with Ambani's Reliance Industries, forming a new media giant. The Ambani family owns, among other assets, a 27-story private apartment building, named Antila, worth $1 billion in Mumbai. It has three helipads, a 160-car garage, a private movie theater, a swimming pool, and a fitness center.

Ambani’s critics say his company has flourished mainly because of political connections during the Congress governments in the 1970s and 1980s and subsequently under Prime Minister Narendra Modi’s rule after 2014. They say “crony capitalism” in India has helped certain corporations,

such as Ambani’s, thrive.

Mukesh Ambani, 66, has started passing the torch to his two sons and daughter. The oldest son, Akash Ambani, is now chairperson of Reliance Jio; his daughter, Isha, oversees retail; and the youngest, Anant—who will wed in July—has been inducted into the new energy business.

Do you want a party like no other?

The Ambanis have your back

Extravagant parties are the Ambanis’ specialty.

In 2018, when his daughter married, Ambani made the headlines because of the grand celebrations, with pop sensation Beyoncé performing at the pre-wedding festivities. At the time, Former US Secretaries of State Hillary Clinton and John Kerry were among those who rubbed shoulders with Indian celebrities and Bollywood stars in the western Indian city of Udaipur.

Later that year, the happy couple, Isha Ambani and Anand Piramal, officially celebrated their engagement overlooking the picturesque Lake Como in Italy. In December 2018, they got married at the Ambani residence in Mumbai.

What is so fascinating about the pre-wedding shindig?

The three-day pre-wedding bash offers a glimpse of the opulence ex -

S. korean doctors hold massive anti-govt rally over medical school recruitment plan

SEOUL, South Korea—Thousands of senior doctors rallied in Seoul on Sunday to express their support for junior doctors who have been on strike for nearly two weeks over a government plan to sharply increase the number of medical school admissions.

The rally came as the government said it would begin to take steps Monday to suspend the medical licenses of nearly 9,000 medical interns and residents for defying government orders to end their walkouts, which have disrupted hospital operations.

“The government's absurd medical policy has triggered immense resistance by trainee doctors and medical students, and we doctors have become one,” Park Sung-min, a senior member of the Korea Medical Association, said in a speech at the rally. “I’m asking the government: Please, stop the threats and suppression now.” Protesters chanted slogans, sang and held placards criticizing the government’s plan. There were no reports of any violence at the rally.

As of Thursday night, 8,945 of the country’s 13,000 medical interns and residents were confirmed to have left their worksites, according to the Health Ministry. The government has repeatedly said they would face minimum three-month license suspensions and indictments by prosecutors if they didn’t return by February 29.

The striking doctors are a fraction

of South Korea’s 140,000 doctors. But they account for about 30 percent to 40 percent of the total doctors at some major hospitals, where they assist senior doctors during surgeries and other treatments while training. Their walkouts have subsequently caused numerous cancellations of surgeries and medical treatments at the hospitals.

Senior doctors have staged a series of rallies backing the young doctors but haven't joined the walkouts. If they also launch strikes, that would pose a major blow to South Korea's medical service.

The government wants to increase South Korea’s medical school enrollment quota by 2,000 starting next year, from the current 3,058, to better deal with the country’s rapidly aging population. Officials say South Korea’s doctor-to-population ratio is one of the lowest among developed countries.

But many doctors have vehemently protested the plan, saying medical schools can't handle such a sharp increase in the number of students. They say the recruitment plan also does not address a chronic shortage of doctors in essential but low-paying specialties like pediatrics and emergency departments.

Doctors say adding too many new doctors would also result in an increase in public medical expenses since greater competition would lead to excess treatments. But critics say the doctors simply worry about receiving a lower income due to the rising number of doctors.

WTO extends e-commerce tariff moratorium for 2 years; no deals reached on trade issues

pected at the July wedding.

The Ambanis are celebrating it at the family’s hometown of Jamnagar— a city of around 600,000 in a neardesert part of Gujarat state—where they also have the business’ main oil refinery.

Guests will don jungle-themed outfits to visit an animal rescue center run by the groom-to-be, Anant. Known as “Vantara,” or “Star Of The Forest,” the 3,000-acre (about 1,200-hectare) center houses abused, injured and endangered animals, particularly elephants.

The invitation also says guests will start each day with a new dress code, mood boards and an army of hair stylists, makeup artists and Indian wear designers at their hotel to help them prepare. There will also be traditional Hindu ceremonies in a temple complex.

The guests, many arriving by chartered planes, will be served 500 dishes created by around 100 chefs.

The guest list also includes Mohammed Bin Jassim al Thani, the prime minister of Qatar; Stephen Harper, former Canadian prime minister; and Bhutan's King Jigme Khesar Namgyal Wangchuck and Queen Jetsun Pema.

On Wednesday, the Ambani family organized a community food service for 51,000 people living in nearby villages.

The World Trade Organization agreed to extend a moratorium on e-commerce tariffs for two years after marathon negotiations in Abu Dhabi, while failing to secure deals on other contentious trade issues including a crackdown on agriculture and fisheries subsidies.

Speaking at the closing session, DirectorGeneral Ngozi Okonjo-Iweala called the WTO a “source of resilience” in a world shaken by geopolitical turmoil. She encouraged negotiators to continue discussions on their unfinished business.

Adding to the challenges at the 13th biennial ministerial of the Geneva-based institution are dozens of elections this year in major economies as incumbent politicians from Brussels to New Delhi feel pressure from farmers, truckers and other workers protesting for relief from inflation and foreign competition.

At the start of the week “I said trying to get achievements gains these headwinds would be tough,” Okonjo-Iweala, whose term ends in August 2025, said during a press conference. “We didn’t achieve all we wanted to, but what we did achieve I think was pretty amazing.”

The US Chamber of Commerce, the country’s largest business lobbying group, applauded the extension, saying in a statement that “the global economy benefits when digital trade stays duty-free.”

As the talks ended past midnight after running for 16 hours on Friday, the lastminute pact to preserve the e-commerce

moratorium until 2026 was the most important breakthrough.

I t also surprised some observers who heard e u ropean Union officials say just minutes before a draft agreement was announced that the week-long negotiations were headed for total failure.

Still, falling short on agriculture and fisheries may renew criticism that the nearly 30-year-old WTO—with just two major multilateral accords to its credit—is incapable of brokering the required consensus among its 166 members as the global economy fragments into rival blocs, and wars in Ukraine and Gaza disrupt international trade.

“It’s clear that it is often difficult to reach consensus,” said Valdis Dombrovskis, e u ropean Commission’s vice president for trade. “Despite that, we were very close and there’s a willingness and determination of a vast majority of membership to continue negotiations until it gets over the line.”

India, Indonesia and South Africa had signaled their opposition to renewing the ecommerce moratorium, but supported it in the end. They’re among countries worried about losing control of data flows, as well as the market dominance of US Big Tech companies.

Tariff-free Internet

A BOUT 2 5 percent of all global trade is now conducted digitally and it’s expected to continue to rise faster than traditional trade in goods over the next decade. The problem the WTO faces is how to deal with some governments want the authority to collect customs duties from growing sectors of online commerce that are hard to track and measure across borders.

BusinessMirror
Monday, March 4, 2024 A9
www.businessmirror.com.ph
Bloomberg News Spe Aker of the House Mike Johnson, r-La., speaks at the Capitol in Washington on February 29, 2024. Shortages of ammunition and supplies are resulting in Ukraine losing ground, congressional leaders warn, yet the republican-controlled House has shown little hurry to resupply kyiv with military aid. Johnson appears determined to chart his own course on a foreign aid package, which could leave Congress stalled for weeks longer. AP Ph OTO/J. S COTT A PPle W h I T e
Do CTo r S stage a rally against the government’s medical policy in Seoul, South korea on Sunday, March 3, 2024. Thousands of senior doctors rallied in Seoul on Sunday to express their support for junior doctors who have been on strike for nearly two weeks over a government plan to sharply increase the number of medical school admissions. AP Ph OTO/Ah N YO UNG -J OON

editorial

Rising inflation and the struggle of Filipino minimum wage earners

The recent announcement by the Bangko Sentral ng Pilipinas (BSP) that inflation could average 2.8 to 3.6 percent in February is concerning news for Filipino consumers, especially for minimum wage earners who are already grappling with the rising cost of living. The increase in prices, particularly in essential food items such as rice, meat, and fish, will further strain the budgets of those who are already struggling to make ends meet. (Read the BusinessMirror story: “Costlier food items to fuel February inflation,” March 1, 2024).

According to the BSP, the surge in commodity prices, including petroleum and electricity rates, has contributed to the inflationary pressures. Rice prices, in particular, have reached their highest level in 15 years, with an average inflation rate of 22.6 percent in January. This sharp increase in the price of the staple food for many Filipino households has a significant impact on the overall inflation rate.

While it is reassuring that the BSP’s estimate for inflation is still within the target range of 2 to 4 percent, it is essential to address the challenges faced by minimum wage earners. These individuals, who form a significant portion of the workforce, are particularly vulnerable to the effects of rising prices. Their limited income makes it difficult to absorb the additional costs of essential goods, pushing them further into financial hardship. It would do well for the government to take proactive measures to alleviate the burden on minimum wage earners. One approach could involve increasing the minimum wage to ensure that it keeps up with the rising cost of living. Additionally, targeted subsidies or social welfare programs could be implemented to provide direct assistance to those most affected by inflation. These measures would help alleviate the financial strain faced by minimum wage earners and protect them from the adverse effects of rising prices.

Furthermore, it is crucial for the BSP to continue monitoring inflation and economic developments closely. A data-dependent approach to monetary policy decision-making is vital to ensure that appropriate measures are taken to maintain price stability and support economic growth. The BSP’s commitment to this approach is commendable, as it recognizes the importance of balancing the needs of the economy while safeguarding the welfare of the people.

The Marcos administration’s target of attaining upper middle-income status for the Philippines by 2025 reflects a strong commitment to driving economic growth and development. While economic growth is crucial for overall development, its benefits should reach the broader population to make a meaningful impact on poverty reduction and inequality. However, the projected high inflation in February has raised concerns about the potential challenges in ensuring that economic growth trickles down to the poor masses.

Inflation erodes the purchasing power of individuals, particularly those with low incomes. When inflation rises, the cost of basic necessities, such as food and utilities, can become burdensome for vulnerable populations. This can hinder poverty alleviation efforts and exacerbate income inequality.

Addressing the challenges posed by rising inflation requires a multifaceted approach involving government intervention, policy adjustments, and proactive measures. The concerns of minimum wage earners must be prioritized by our economic managers, who should take decisive action in implementing concrete measures to mitigate the impact of rising prices on their livelihoods. By doing so, the government can ensure that the benefits of economic growth are shared equitably and that no Filipino citizen is left behind in the face of increasing inflation.

BARAPTASAN 2024 grand finals set on April 6

Atty. Jose Ferdinand M. Rojas II

RISING SUN

JoSe CoR azon de JeSuS (huseng Batute), the writer who penned the Tagalog lyrics to the song “Bayan Ko,” was the same person who took part, along with Florentino Collantes, in the very first balagtasan held at Instituto de Mujeres in Manila in 1924. This event was staged as a tribute to the country’s foremost poet during that time, Francisco Balagtas, the writer of “Florante at Laura”—so it’s understandable that it was also named after him.

The balagtasan is a poetic joust, a debate in verse patterned after the duplo of the 19th century. Going back to that milestone event in 1924, out of the three pairs who participated in that first-ever balagtasan, the pair of Huseng Batute and Collantes emerged as a crowd favorite. About a year later, when they repeated their performance as a spontaneous round, Huseng Batute earned the title Hari ng Balagtasan

Versions of the balagtasan pro-

liferated in many places around the country, such as Ilocos and Pampanga, until it became a very popular form of entertainment during that time. Every poet (makata) worth his salt needed to display his skill in declamation and debate as a poet in the balagtasan. All this is relevant today as the Cultural Center of the Philippines (CCP) launched KANTO KULTURA: BARAPTASAN 2024 last year. Baraptasan (balagtasan + rap) is a national competition promoting balagtasan

All this is relevant today as the Cultural Center of the Philippines (CCP) launched KANTO KULTURA: BARAPTASAN 2024 last year. Baraptasan (balagtasan + rap) is a national competition promoting balagtasan with a modern twist. CCP opened it to all Filipinos 18 years old and above. Participants needed to form a group of three people—two will engage in the verbal joust, and one will act as a mediator. Then, they had to submit a video of their performance, debating on given topics in true balagtasan fashion but using rap to build their arguments.

with a modern twist. CCP opened it to all Filipinos 18 years old and above. Participants needed to form a group of three people—two will engage in the verbal joust, and one will act as a mediator. Then, they had to submit a video of their performance, debating on given topics in true balagtasan fashion but using rap to build their

arguments.

The judges deliberated on the submissions and decided on the 10 finalists who will battle it out in the grand finals slated for April 6, 2024 at the Rizal Park Open Air Auditorium at 3:00 in the afternoon.

The public is invited to witness the ultimate showdown of the following groups: Rapper sa Pinas (Bocaue, Bulacan), Harayasista Group (Labo, Camarines Norte), City of Koronadal (Koronadal City, South Cotabato), Ang Mga Supling ni Angela (Tabaco City, Albay), Waraptasan (Tacloban City, Leyte), Lakbay Iral (Dasmariñas City, Cavite), El Setecientos (City of Santa Rosa, Laguna), TANGLAW (Santa Cruz, Ilocos Sur), Barapbida Normalista (Tacloban City, Leyte), and DMD (Makati City, NCR).

Big cash prizes await the winners. The first prize winner will get P300,000 in cash, P200,000 for the second placer, and P100,000 for the third prize winner. All finalists will receive P50,000 each. For updates on this event, interested parties are encouraged to visit the Facebook pages of CCP and CCP Kanto Kultura.

The energy equation in PHL’s push for more investments

The need for lower energy costs is of paramount importance to rope in foreign investors and the thrust to have clean energy is a huge challenge that the department of energy (doe) a nd the energy Regulatory Commission (eRC) face. a nd yet, these two departments appear to be dragging their feet on ensuring energy stability.

ERC has yet to determine the pricing and policy on renewable energy (RE) projects, while the energy department seems to have overlooked the fact that the availability of RE supply is in question with its planned Green Energy Auction this August.

The path to renewables, as part of the clean energy transition, will result in lower energy costs. After all, solar power is free. And so does the wind. And with the decline in the prices of solar panels and wind turbines, the energy costs should go down.

But the push for renewables is not without challenges. With at least 20 typhoons visiting the country annually, the operation of wind turbines during inclement weather is in question, while solar power is not that stable.

Aside from the problems associated with energy stability from re-

newables, there is the big question on the stability of the grid. Even with the RE projects churning out their power, there is the problem of the capacity of baseload plants, an important component in ensuring a stable supply of electricity.

On this, the grid cannot rely on coal-fired power plants for the required baseload capacity, one big challenge that should not be overlooked by the two agencies tasked with clean energy and lower energy costs to drum up investments.

It is noteworthy that the DOE is moving ahead with planned green energy auctions (GEA) set five months from now that would allow renewables to be part of the energy equation, but there are several issues lurking around the corner that should not be overlooked.

In this GEA auction where com-

In the energy equation that the DOE came up with, 1,400 megawatts of hydro, biomass, solar and wind will come from Luzon, 400 megawatts from Visayas and 200 megawatts from Mindanao. Solar power has the biggest contribution, as it will be tapped to provide 900 megawatts in Luzon, 200 megawatts in Visayas and 100 megawatts in Mindanao.

panies vie for the right to be part of building solar, wind and run-of-river hydro, there is the question on the availability of these RE solutions. And on this aspect, the problem is the lack of urgency from the ERC in setting forth the parameters on pricing and the policy framework to govern the same.

Another issue is the question on whether the power grid can handle the load coming from the RE.

In the energy equation that the DOE came up with, 1,400 megawatts of hydro, biomass, solar and wind will come from Luzon, 400 megawatts from Visayas and 200 megawatts from Mindanao. Solar power has the biggest contribution, as it will be tapped to provide 900 megawatts in Luzon, 200 megawatts in Visayas and 100 megawatts in Mindanao.

But while the auction has been set, the ERC has not yet pushed the envelope in setting the rates for RE sources, much less act on a regulatory

framework for the transmission of green energy.

The ERC appears complacent in moving forward on the pricing parameters. For instance, the agency has yet to craft the pricing determination methodology and cost parameters for the Non-Feed-In-Tariff (Non-FIT) eligible RE Technologies.

So far, no policy foundation has been formulated yet.

And for the DOE, while its GEA auction is paved with good intentions, it seemed to have missed out on the fact that should the RE capacity dot the energy equation, the question on the stability of the grid crops up.

The DOE has projected a 28,000 megawatt demand and supply of 50,000 megawatts with increasing share from RE. It has programmed raising the RE share in total energy supply to 35 percent by the year 2030, and then 50 percent 10 years after.

The two agencies are brimming with enthusiasm on their mandates for RE. However, the DOE and ERC have conveniently forgotten, either wittingly or unwittingly, the question of grid stability, which is the weakest link in the path to more renewables. It is also equally important that our leaders, in the quest for lower energy costs to spur foreign investments, should bear in mind that the road to RE and green energy should go hand in hand with assuring a stable supply of electricity. And the bigger question revolves around maintaining reasonable costs.

www.news.businessmirror@gmail.com Monday, March 4, 2024 • Editor:
Opinion BusinessMirror A10
Angel R. Calso
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GAGNI

Philippines as a global tax leader

DEBIT CREDIT

Part 14

hE Advance Pricing Agreement (APA) is a globally accepted mechanism to address taxation issues about cross-border transactions. These issues include, among others, the reasonableness of transfer prices on transactions between related parties, the documentation to support such transfer prices, and a host of other concerns. The overriding objective of this APA is to mitigate double taxation and tax calculation discrepancies between taxpayers and the tax collecting authorities, which can involve the different taxing jurisdictions where taxpayers are separately operating and residing. This is arrived at when the taxpayers and tax administrators can agree upon an APA that will govern the transfer pricing considerations in cross-border transactions.

It was in the early 1990s when the practice of APA in Asia was first introduced by the National Tax Administration of Japan. In the Southeast Asian region, Singapore was the first country to adopt the APA in the early 2000s. In the Philippines, the Bureau of Internal Revenue (BIR) issued in 2013 the Revenue Regulations No. 2-2013 providing for the Transfer Pricing guidelines. Section 11 of said regulations recognized the concept of APAs. The guidelines stated that there are two kinds of APA available for taxpayers, the Unilateral APA and Bilateral or Multilateral APA. A unilateral APA is an agreement involving only the taxpayer and BIR, while a bilateral/multilateral APA is an agreement involving the taxpayer, the BIR, and one or more of the treaty countries that have taxing rights on the taxpayer. However, other than these general provisions, the guidelines did not provide more details on the APA procedures and merely stated that separate guidelines would still have to be issued.

During the ensuing years, BIR drafted implementing regulations for the APAs and exposed these to the taxpaying public. I was involved then, as a partner of one of the leading auditing and tax firms, in the discussions with the BIR on these draft guidelines. Among others, these included rules on the application process for the APA, the documentation requirements, the fees to be paid by the applicants, the benefits and outcomes of the APA, and others. Unfortunately, these draft regulations were never finalized and approved for implementation. Despite the interest of a great number of taxpayers in moving forward with the detailed APA guidelines, I understand that the reason for the non-finalization of the draft rules was the lack of technical competence and financial budget to acquire the necessary software to assist the BIR in assessing the transfer prices and methodologies for the APA applications.

The Philippines is now one of the laggards in the region in the implementation of the APA. It is high time that the BIR catches up. The APA rules and regulations should be reviewed again by the BIR and taxpayers to include the latest best practices and provisions, and thereafter be released for full implementation. The country can show then that it can be at par with the rest of the world in the APA practices and for the BIR to assume global leadership in this APA technology and practice.

The BIR can refer to the Bilateral Advance Pricing Arrangement Manual (Manual) of the Organization for Economic Co-operation and Development (OECD) in moving forward with the APA program. This Manual can be sourced at https://www.oecd.org/finance/bilateral-advance-pricing-arrangementmanual-4aa570e1-en.htm. The Manual provides tax administrations and taxpayers with informa-

Unity: Fare thee well?

IThe Philippines is now one of the laggards in the region in the implementation of the APA. It is high time that the BIR catches up. The APA rules and regulations should be reviewed again by the BIR and taxpayers to include the latest best practices and provisions, and thereafter be released for full implementation. The country can show then that it can be at par with the rest of the world in the APA practices and for the BIR to assume global leadership in this APA technology and practice.

tion on the operation of APAs and identifies 29 best practices for such APAs. The Manual also provides a discussion on what tax administrations expect from taxpayers in the APA process to facilitate a cooperative and collaborative process.

The Philippines recently became involved in the global efforts against tax avoidance by joining the OECD/G-20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) in October 2023. This BEPS group is an international collaboration with over 140 member countries and jurisdictions. The group commits to the implementation of Action 14 (Making Dispute Resolution Mechanisms More Effective) of the BEPS minimum standard on timely and complete reporting of mutual agreement procedure (MAP) statistics under an agreed reporting framework. The most recent 2022 MAP statistics were recently released. This report does not include the Philippines as among the 133 countries that are engaged in the APA process.

(https://www.oecd.org/tax/dispute/mutual-agreement-procedurestatistics-2022-per-jurisdiction. htm). This non-inclusion may be attributed to the Philippines having just recently joined tthe BEPS group in November 2023 or the lack of APA engagements of the BIR.

Whatever the reason may be, it is best for the BIR to be able to actively be involved in the BEPS, APA, and other global tax developments so that the country can gain the appropriate recognition from the global tax community of its involvement in these important initiatives and the derivative benefits resulting therefrom.

To be continued.

Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held the various positions of Dean of the University of the Philippines Virata School of Business, Chairman of the Professional Regulatory

his firm JL2T Consultancy.

THE

PATRIOT

T was a team so powerful that it practically decimated the opposition in the last May 2022 elections. As political analysts have projected the short life span of the Marcos and Duterte alliance for convenience, the leaders of both camps, President Marcos Jr. (BBM) and former President Rodrigo Duterte played their part of disintegrating the UNITEAM, through a verbal tussle with undertones of a larger war. Former president Rodrigo Duterte flip-flopped on his statements about his successor’s state of being a drug addict and being on the Philippine Drug Enforcement Agency’s (PDEA) drug watch list. Duterte is singing a different tune as of late but, being “consistently inconsistent.”

I will not be surprised if he will say another version in the coming months especially if the Marcos administration decides to rejoin the International Criminal Court. Should the Philippines do so, it exposes Duterte to criminal prosecution, which may likely hold him accountable for the thousands of extrajudicial killings during his infamous “war on drugs.”

The two leaders were also at loggerheads on the issue of charter change, another factor that may lead to the complete destruction of the Marcos-Duterte alliance. Marcos seems to echo the perennial reason behind amending the economic provisions of 1987 constitution, saying changes are necessary to ease regulations for business and lure investors, while Duterte has used the same argument hurled against him when he was promoting federalism thru charter change during his administration, that is, staying in power.

Yet, there are greater concerns beyond this open warfare. A few months into his administration, BBM reversed Duterte’s pro-China stance and pivoted back to the United States—a seemingly similar flashback to how former President

Noynoy Aquino did the same thing to his own predecessor, former President Gloria Macapagal Arroyo. Ka Leody De Guzman, a presidential candidate in 2022, categorically declared that this recent pivot can turn into a larger proxy war between China and the United States with both countries using Philippine leaders as mouthpieces to serve their interests. I agree with Ka Leody to the extent that China has been extra aggressive in the West Philippine Sea (WPS) likely due to the presence of military bases built thru the RPUS Enhanced Defense Cooperation Agreement (EDCA). That bigger issue of territorial claims remains not just a matter of national security but also of economic survival as fishermen folk are adversely affected by this ongoing conflict. I am not sure whether the WPS issue is connected to our importation of fish—tuna, sardines, and even galunggong, mackerel scad, more known as poor man’s fish. The Filipino people will be the victims of this latest episode of a colorful telenovela.

In biblical history, unity is just as elusive as we see today. Even the disciples of Jesus demonstrated discord as James and John caused envy and

jealousy among them. On the night Jesus was betrayed, there was a dispute as to who among them is the greatest (Luke 22:24). Centuries after this dissension among Jesus’ followers, some would say that Christians are essentially Catholics or vice versa while others would vehemently object to such notion. Obviously, there are notable differences. For some, myself included, we should focus on the commonalities rather than argue on the differences for the sake of unity. Within the Protestant movement, there have been various groups of denominational families—the Adventists, Lutherans, Methodists, Baptists, and Presbyterians, to name a few. Knowing that these believers use the same Bible, save for a few differences in terms of interpretation if not translation, I rather see all of these God-loving believers to reflect on the appeal of the apostle Paul in 1 Corinthians 1:10, “in the name of our Lord Jesus Christ, that all of you agree with one another in what you say and that there be no divisions among you, but that you be perfectly united in mind and thought.”

I am far from being a biblical scholar and I do not pretend to be one. But I have seen unity in churches to be extremely difficult to the point that, even within the same organization of the same faith, members cannot agree on simple terms. Thus, as a recurring theme, when disagreement escalates, the other creates a breakaway group.

If all believers can promote living in harmony and in unity within themselves, within fellow believers, and within the same Holy Spirit, then there is oneness, which is necessary to receive God’s blessings. Unity among Filipinos and among believers will never be easy. It can even be considered impossible unless with the help of the Holy Spirit. Being united is neither rhetorical nor idyllic. Being united is simply a matter of being IN CHRIST just as Christ is IN US. Otherwise stated, unity in this divided world can only be achieved

when we have a clear grasp of the best metaphor on unity amidst adversity, as founded in 1 Corinthians 12:1214, which states: “Just as a body, though one, has many parts, but all its many parts form one body, so it is with Christ. For we were all baptized by one Spirit so as to form one body—whether Jews or Gentiles, slave or free—and we were all given the one Spirit to drink. Even so the body is not made up of one part but of many.”

This spiritual foundation teaches us to look to one unifying factor, made possible only by the Holy Spirit as we make Jesus our common habitation. The phrase used by the apostle Paul in that verse, So it is with Christ,” instructs us that Jesus is the head of the church (us) and is the “essential expression of our unity.” Hence, regardless of our racial, social, or political distinctions, the truth cannot be gainsaid—we were all baptized with the one Spirit. Any type of disunity—be it about charter change, the seemingly lackadaisical state of our country’s leadership, or current foreign policy, only fabricates superficial things that mark a disruption in our culture. Such disunity in political or religious affiliations should not be tolerated to divide us, since we are considered as the body of Christ—the intrinsic unity forged by our having been incorporated with Christ!

Yes, indeed, no matter how divided this world can be, saying farewell to unity is never an option.

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.

Ambassador Koshikawa Kazuhiko’s farewell letter to PHL media

The Embassy of Japan in the Philippines has shared this Letter of Appreciation for Philippine Media by outgoing Ambassador Koshikawa Kazuhiko, who ends his Manila tenure on March 5, 2024.

DEAR Esteemed Media Partners, I would like to extend my sincerest gratitude to your esteemed company for your unwavering support to our Embassy. I would also like to express my appreciation for the kindness, support, and friendship you have extended to me and

my wife, Yuko, during the last three years and three months.

In recent years, our two nations have forged stronger bonds, marking a golden age in our bilateral relations. This achievement would not have been possible without your commitment and dedication in highlighting the significant milestones that have defined our journey. Your insightful coverage and tireless efforts have also played a pivotal role in fostering mutual understanding between our peoples.

As I approach the end of my term as Ambassador on March 5, I am

deeply appreciative of your continued support and collaboration as Japan and the Philippines embark on the next chapter of its diplomatic journey.

I look forward to your continued partnership with our Embassy and my successor Ambassador ENDO Kazuya. Lastly, I hope to visit the Philippines again as a tourist soon.

Sincerely yours, Koshikawa Kazuhiko Ambassador Extraordinary and Plenipotentiary of Japan to the Philippines

Sunak struggles to halt UK Tories drifting toward rival Badenoch

RISHI S UNAK S chances of winning the next UK election have already been written off by most in Westminster. Yet close allies worry the challenge is becoming even harder than it should be because one of his own Cabinet ministers is positioning to succeed him as Conservative Party leader.

The prime minister’s office is increasingly concerned by Business Secretary Kemi Badenoch, according to ministers, lawmakers and aides who spoke to Bloomberg on condition of anonymity to discuss internal party politics. One said the 44-year-old Badenoch, who is also the bookmakers’ favorite to be the next Tory leader, is rapidly emerging as Sunak’s chief political headache.

A glance at recent newspaper headlines is enough to explain why. Badenoch has made a series of interventions on high-profile issues viewed as priorities for grassroots Conservative Party members who get to choose the next leader.

In December, it emerged Bad-

enoch had pushed for a harder line on Sunak’s flagship migration policy to deport asylum seekers to Rwanda, something Tory members view as one of the most important issues facing the country.

Weeks later, a group of former government advisers briefed journalists that Sunak was leading the party to electoral oblivion and that he should be replaced by Badenoch. She swiftly distanced herself from the group, though she faced some embarrassment when it was then reported she was in a WhatsApp group called—jokingly, some members said—the “Evil Plotters.”

The noise has picked up this month. She waded into a row over transgender rights with a post on the social media site X—not signed off by Sunak’s aides—accusing opposition Labour Party leader Keir Starmer of trying to politicize the murder of a teenager. She also became embroiled in a public spat with a former Post Office official she alleged was the subject of a bullying investigation when she fired him. Sunak’s spokespeople refused to endorse her claim.

In some respects, it’s consistent

with the abrasive reputation Badenoch has built up. She’s publicly argued with journalists and often inserted herself into conversations about core Tory issues in a way that her colleagues suspect is motivated by her leadership ambitions, one Conservative MP said.

Observers say it appears more calculated recently. After Sunak triggered outrage with a jibe about gender identity backfired in the House of Commons, Badenoch’s decision to double-down played directly to the audience of Tory members who are critical of transgender rights.

Targeting a former Post Office official is also safe ground politically amid the furor over wrongful convictions of staff, yet her intervention did Sunak few favors by drawing further attention to the slow payment of compensation.

Spokespeople for Sunak and Badenoch declined to comment.

Skepticism about Badenoch’s motives is growing in Sunak’s inner circle, according to people familiar with their thinking. There’s frustration because they want to focus on an economy expected to improve

before voters cast their ballots, and build a presidential-style campaign led by the premier.

One said Badenoch had replaced Suella Braverman, the Home Secretary sacked by Sunak, as his team’s least favorite Cabinet member.

It’s a far cry from when Sunak’s chief of staff, Liam Booth-Smith, used to praise Badenoch at weekly meetings of government advisers.

That has stopped in the last few months, one person said. According to a Conservative MP, Sunak doesn’t have any leverage over Badenoch to rein her in, and warned he cannot afford to lose her from his Cabinet without facing a leadership challenge.

Badenoch, a former associate director at the private bank Coutts, has risen up the ministerial ranks rapidly since becoming an MP in 2017. A keen supporter of Brexit, she stood in the leadership contest ultimately won by Liz Truss in 2022. Under Sunak, she first served as trade secretary before the premier added the business department to her portfolio. She’s also the equalities minister, though the right-leaning press have dubbed her the “anti-woke warrior.” Bloomberg

Monday, March 4, 2024 Opinion A11 BusinessMirror www.news.businessmirror@gmail.com
Accountancy,
Co. and the
Gorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and
Board of
Tax partner of Reyes Tacandong &
SyCip
nes
AmbAssAdor Koshikawa Kazuhiko Photo from
the official facebook Page of the embassy of JaPan in the PhiliPP

Manufacturer prices of food, drinks buck Jan downtrend DOF LEADS PANEL MEETINGS OF G-24 ON ECONOMIC ISSUES

MANUFACTURER prices overall contracted in January but those of beverages and food continued to increase, according to the latest data from the Philippine Statistics Authority (PSA).

T he Producer Price Index (PPI) for manufacturing contracted by 1 percent in January 2024. This is the steepest contraction in manufacturing PPI in at least 12 months.

T he manufacturer prices for beverages posted an increase of 7.6 percent while the manufacture of food posted a 1.1-percent growth in January 2024.

“ Producer Price is the unit price [ex-plant] of a product or commodity as it leaves the establishment of the producer. It includes any indirect tax paid by the producer less any subsidies on the products received by the producer,” PSA explained.

Under food manufactures, the items that posted the highest in -

crease were the processing and preserving of fruits and vegetables which posted a year-on-year growth of 5.9 percent, the highest at least in the last 12 months.

T his was followed by the PPI of the manufacture of grain mill products, starches and starch products and manufacture of other food products which both posted growth of 1.3 percent in January 2024.

T he processing and preserving of meat also grew 1.2 percent growth in January 2024 while the manufacture of dairy products increased 0.9 percent.

T he manufacture of vegetable and animal oils and fats, meanwhile, had the largest decline of 5.4

percent in January 2024.

M eanwhile, the negative annual growth rate of PPI in January 2024 from a positive growth in the same month in the previous year was primarily due to the decline in the annual growth rate of the PPI for the manufacture of computer, electronic and optical products industry division at 1.7 percent in January 2024.

T he manufacture of computer, electronic and optical products contributed 38.7 percent to the downtrend in the annual rate of the PPI for manufacturing in January 2024.

A mong the 22 industry divisions for manufacturing, manufacture of computer, electronic and optical products has the second highest weight  in the computation of PPI.

O f the remaining 19 industry divisions, 13 exhibited annual decreases during the period, while six industry divisions registered annual increases during the month.

P SA explained that the PPI measures the average change over time in the prices of products or commodities.

THE two-day Intergovernmental Group of Twenty-Four (G24) Technical Group Meetings (TGMs) discussed strategies to effectively address current economic challenges including climate financing, changes in the global trade regime, domestic resource mobilization, and sovereign debt resolution.

The Department of Finance (DOF) led the TGMs on February 21 and 22 in Manila as the Philippines currently sits as chair of the G-24.

In a statement on Friday, the DOF said the G-24 explored the measures necessary to ensure financial stability, particularly during crises, in the first panel discussion titled “Reforms of the Global Financial Safety Net for the 21st Century Challenges.”

Acknowledging that the global financial safety net is unsuitable for the current environment, the Group emphasized the need for reform to make the global financial safety net more responsive to developing countries’ needs. It noted as well the need for strong macroeconomic fundamentals to protect the world economy from shocks.

In the second panel discussion, “Changes in the Global Trade Regime and Impacts on the Global South,” the Group examined how rising trade protectionism and the global challenges wrought by the pandemic impact the levels of poverty and inequality, and how these delay the achievement of

sustainable development goals (SDGs).

Emphasis was also placed on global cooperation to focus on facilitating, rather than restricting, trade. Member states focused on matters pertaining to the current international tax framework at the panel discussion on “Domestic Resource Mobilization for the 21st Century.”

Delegates shared insights on how to collectively shape this to be more inclusive to developing countries, it added. “In addition, the G-24 amplified its call for a more democratic global tax governance that considers the rights and interests of developing economies,” the DOF said.

During the “Climate Action and Financing” panel, the Group called on international financial institutions to increase their efficiency in leveraging their capital and to improve the accessibility and concessionality of financing instruments. This, it said, is to help address existing financing gaps in developing countries for climate adaptation and mitigation initiatives.

The discussion on“Sovereign Debt Resolution”noted that while progress has been made for countries seeking debt treatment under the G-20 Common Framework initiative, coordinated action towards restoring debt sustainability would need to consider mechanisms to resolve debt challenges in middle-income countries

that are not eligible.

I t also advised that countries need to advance fiscal frameworks that promote stronger fiscal positions and prudent debt management.

National Treasurer Sharon P. Almanza, acting as Chair of the TGM Sessions on behalf of Finance Secretary Ralph G. Recto, likewise emphasized the importance of cooperation amidst country differences.

“ While we recognize that there is not a one-size-fits-all solution to our development woes considering our countries’ unique contexts and situations, we acknowledge the importance of international cooperation in this interconnected world, of making our voices heard, and of ensuring that no one is left behind as we tackle global challenges and build our resilience moving forward,” Almanza was quoted in the statement as saying.

Recto, on the first day of TGMs, called on international financial institutions to “redouble their efforts” in helping developing countries mitigate economic headwinds. (See: https:// businessmirror.com.ph/2024/02/22/ recto-to-ifis-move-faster-to-helpblunt-headwinds/).

Recto urged international financial institutions such as the Asian Development Bank (ADB), the World Bank (WB) and the International Monetary Fund (IMF) to counter the factors that threaten growth prospects. Reine Juvierre Alberto

Tsaid, the closure order was served at 6:40 a.m.

The park’s gate was padlocked by men with scarves covering their

faces. Several Makati employees remain trapped inside the park.  They then proceeded to block all entrances, erected barricades, and deployed some 100 Taguig personnel to surround the perimeter of the park,” Makati said.

Under Taguig’s jurisdiction

MEANWHILE , Taguig insisted that the park, a public facility under its jurisdiction, was temporarily closed for operating without the necessary permits from the local government.

local ordinances to regulate any business, trade, or activity within the City of Taguig through issuance of a Mayor’s permit after submission of documents and payment of fees and taxes. Makati Garden and Park has no permits from Taguig City Hall,” Taguig said. Taguig claimed that the park and garden, which has been effectively closed as a park by Makati and used as garage for its heavy equipment and storage for various objects, is “subject to Taguig’s jurisdiction which has the right to possess and administer the same notwithstanding Makati’s unlawful possession.

See “Makati,” A2

A12 Monday, March 4, 2024
Makati cries foul as Taguig padlocks park, traps staff
AGUIG personnel padlocked the gate of Makati Park Sunday morning and allegedly trapped Makati employees inside after the Taguig city government issued  a closure order on the park for supposedly not having a business permit. Taguig is a bully. Inaangkin nila ang hindi sa kanila [They are claiming something that doesn’t belong to them],” the Makati city government said, adding that Taguig is also bending the law in using violence to possess something. O n Sunday, Makati
The closure is in line with the LGU’s[local government unit] authority under the Local Government Code, jurisprudence,  and JOB FAIR AT SM CITY Job seekers converge at SM City North Edsa in Quezon City every Friday for the weekly job fair, a collaborative effort between SM, the Private Sector Advisory Council Jobs Committee of Malacañang, the Department of Labor and Employment, and the Quezon City government. NONOY LACZA
T hese commodities are produced by domestic manufactures and sold at factory gate prices to wholesalers and/or other consumers in the domestic market relative to a base period.

Terra Solar Philippines Inc. is on the lookout for international investors that will help finance its solar farm in Nueva ecija and Bulacan which will consist of 3,500 megawatts (MW) of solar panels and 4,000 megawatt-hours (MWh) of battery storage.

into Terra Solar to help us in financing the total project. The estimate cost was P200 billion to implement that project in full. nothing definitive. we’re just in the process of talking to potential investors. most likely foreign investors, [which will acquire] up to a 40-percent equity stake into Terra Solar,” SPnEC Chairman manuel V. Pangilinan said.

Pangilinan said they have organized a team dedicated to the execution of the project and ensure its timely completion. “We intend to meet our targets, which is our

THE second phase of the Wawa Bulk Water Supply Project of Razon led-Prime i n frastructure Capital i n c. has reached 93-percent completion.

The Upper Wawa Dam, touted as the largest water supply infrastructure to be built in 50 years, is expected to ease water supply fears once construction is finished.

“With its substantial capacity and innovative design, the dam holds immense potential to enhance water security and resilience, which will be a massive step in avoiding a water crisis in

Gcommitment to the government to energize this by 2026.” SPn EC announced in January that work has begun on clearing the site, ahead of the construction of the project’s interconnection facilities with the national gr id Corporation of the Philippines (ngCP) and the installation of over 5 million solar panels to meet its construction timeline.

“We have the transmission facilities. i think that’s been agreed with ngCP. So, we have to acquire the land that’s about 15 kilometers from the site. Then, the supply chain is something we are concerned about. i think not so much on the solar panels. The pricing appears to be less declined.

But we are feeling that the bat-

teries could be problematic. So, we have to face that issue sooner rather than later. a s we get more involved in the project, we are getting to see the complexities flow from the execution of the project on this scale,” said Pangilinan.

The company has secured over 3,000 hectares for its projects, primarily in nueva Ecija and Bulacan, most of which have already been converted to industrial use.

SPnEC is now controlled by the m V P group, through mgen Renewable Energy inc. (mgreen), a whollyowned subsidiary of meralco Powergen Corp. (mgen) after a series of acquisitions. mgreen recently raised its stake in the company to 55.96 percent from 50.53 percent previously after acquiring 2.17 billion shares of SPnEC from Solar Philippines Power Project Holdings, inc. for P2.50 billion, representing 4.34 percent. Prior to this, mgreen invested P15.9 billion for 15.7 billion common shares of SPnEC as well as 19.4 billion preferred shares.

meanwhile, the manila Electric Co. (meralco) has set aside P40 billion in capital expenditure (capex) this year, higher than the P30 billion capex spent in 2023.

The utility firm has budgeted over P20 billion for its distribution and P4 billion for its generation business.

it will also allot funds for its retail electricity supply and other systems.

“That’s about close to P40 billion,” said meralco CFO Betty Siy-Yap. meralco said its capex for 2024 will come from internally generated funds and possibly bank loans.

“We continue to explore borrowings on top of our internally generated funds.For distribution utilities, the tariff should take care of it although there’s a time between billed and when we’re able to collect from our customers. For new projects, these will be under project finance agreements,” said Yap.

Last year, meralco spent P20.2 billion for network capex that covered new connections, asset renewals, and load growth projects, as well as pole relocation works to support various government infrastructure projects.

The remaining P10 billion was spent for 334 telecom towers transferred to m i escor i n frastructure Development Corp. under a sale and leaseback arrangement and additional 36 build-tosuit telecom towers; completion of Phase 1 and the ongoing construction of Phase 2 of the Baras solar power by PH Renewables i n c., a joint venture between m g e n and m it-Renewables Philippine Corp.; and continued facilities build-out of Radius Telecoms i n c.

me tro m a nila and nearby provinces,” said WawaJVCo i nc., a unit of Prime i n fra.

it is already 93 percent complete as of February 28 and the company said construction of the 85-meter roller compacted concrete (RCC) dam will be completed ahead of schedule.

The company said the project should start supplying water by end-2025.

The Upper Wawa Dam has a capacity of at least 710 million liters per day ( mL D) which would provide a steady source of raw water and

FOR 43 years, Eternal Plans has remained devoted to its commitment to faithfully serve Filipinos in preparing financially for their future, weathering countless challenges, and consistently striving to fulfill its promise to secure the futures of families through its pre-need plans.

Eternal Plans’ Vice Chairman D. a ntoinette Cabangon-Jacinto affirmed the company’s commitment to its “Karamay mo sa Buhay” promise, emphasizing that they will remain a steadfast companion to their clients, no matter the challenges. “Through the years, we have weathered storms and learned many lessons that have helped us navigate challenges. in an industry fraught with challenges and uncertainties, we remain firmly committed to our pledge that, no matter what happens, we will deliver on our promises,” Cabangon-Jacinto said. Since its establishment in 1981, Eternal Plans has carved a unique path. For more than four decades, the company has maintained its foothold in the pre-need industry and continues to serve the Filipino people. Throughout its journey, it has prioritized delivering benefits to its plan holders, providing substantial financial support

reduce dependence on the aging a n gat- i b a System.

“The Upper Wawa Dam will help address water security and ensure sustainable water supply to benefit over 700,000 households or about 3.5 million Filipinos within the service area of m W SS [me tropolitan Waterworks and Sewerage System],” the company said.

WawaJVCo, a joint venture of Prime i n fra and San Lorenzo Ruiz Builders and Developers g r oup i nc., said 518 m L D of the dam’s capacity would be allocated to supply m a nila Water Co. i nc. under a

30-year agreement. The remaining 192 m L D of excess raw water supply remains available for contract. it said that the Upper Wawa Dam flagship project of the national government is emerging as the most reliable source of water in greater me tro m a nila with excess supply that can be tapped by suburbs and areas near the metropolis. a l so, the project is seen to is ease concerns on climate changerelated challenges, including a prolonged dry spell that the El n i ño phenomenon was expected to bring. Lenie Lectura

regardless of the economic climate.

With a clear vision established by its founder, the late amb. antonio L. Cabangon Chua, Eternal Plans has continued to offer affordable products tailored to meet the evolving needs of Filipino families. in celebrating its 43rd anniversary, Eternal Plans commemorates the individuals and institutions who have helped and been a part of their journey.

“But above all else, we praise god for His Divine gu idance and for sustaining us through the years. it is through His grace that we have reached this far,” Cabangon-Jacinto added.

To further celebrate this mile-

stone, Eternal Plans will hold a simple ceremony for its anniversary, coinciding with its a nnual awards on ma rch 7. This event will be an opportunity to recognize the dedication of its employees and sales force, who have played a vital role in the company’s legacy.

as the company steps into the future, it does so with a renewed commitment to its “Karamay mo sa Buhay” pledge, ensuring that Filipino families continue to find a reliable partner in navigating life’s journey, together.

Eternal Plans continues to live up to the legacy of its founder, ambassador antonio L. Cabangon Chua. it is part of the aLC group of Companies.

THE m a nila Electric Co. ( m e ralco) and g n P ower Dinginin Ltd. Co. (gn PD) are asking the regulators to approve their 300-megawatt (m W ) power supply agreement (PSa) which recently underwent competitive bidding. in their joint application, the two companies asked the Energy Regulatory Commission (ERC) to approve the 15-year PSa so gnPD could begin supplying power to meralco starting December 2024.

gn PD operates the 1,366m W coal-fired power plant in mariveles, Bataan. The PSa stated that gnPD offered meralco a total levelized cost of electricity (LCOE) rate of P6.8580 per kilowatt-hour (kWh) for 300mW

“By sourcing the capacity through the meralco- gnPD PSa , meralco’s average blended generation rate will be reduced by about P0.0505 per kWh resulting in savings to consumers of about P1.9 billion,” the joint application read.

The 300 m W is part of the 1,800m W total baseload requirement in the recently concluded competitive selection process (CSP). The remaining 1,500mW will be supplied by mariveles Power generation Corp. (mPgC) and Excellent Energy Resources inc. (EER i)

mPgC offered P6.9971 per kWh LCOE for another 300 m W of supply. EER i meanwhile, put in the bid for the biggest 1,200-m W supply at P 7.1094 per kWh LCOE. ma sinloc Power Co. Ltd. (mPCL), the other generation company that participated in the bidding, offered for 300 m W at a rate of P7.1417 per kWh. However, with EER i ’s bid completing the required 1,800 m W total supply requirement, m P CL’s bid was designated as a possible next best bid.

a l l offers received were below the reserve prices set for this CSP. This CSP was meant to replace the capacity covered by meralco’s 2021 PSa s that were terminated in 2023 after securing regulatory approval. Based on meralco’s latest Distribution Development Plan and Power Supply Procurement Plan, the utility firm foresees a baseload capacity deficit in its portfolio covering 1,800m W based on its power situation outlook for 2024 and succeeding years.

“Thus, in order, to ensure continuous and reliable electricity for meralco’s customers, there is a need for me ralco to source additional baseload capacity through bilateral power supply contracts,” meralco said. Lenie Lectura

HE Securities and Exchange Commission (SEC) signed data-sharing agreements with nine law enforcement agencies and authorities, granting them access to beneficial ownership information of corporations registered with the agency.

The SEC said the move is aimed at boosting efforts to combat money laundering and terrorism financing.

Signatories include the Philippine Drug Enforcement a g ency, i n surance Commission, Cagayan Economic Zone authority, national Bureau of i nvestigation, Department of Justice, Philippine Center on Transnational Crime, Department of a g riculture, intelligence Service of the a r med Forces of the Philippines and the Philippine Economic Zone authority.

“in this era where data is gold and financial fraud, including cyber fraud, loom large—collaboration between the SEC and law enforcement is not just beneficial; it’s imperative,” SEC chairman Emilio B. aquino said in his keynote speech during the signing ceremony held in the agency’s ma kati headquarters.

Beneficial owners of a corporation are distinguished from legal owners,

which are defined as persons who, in accordance with the law, owns or has the controlling ownership interest over the corporation, or has the ability of taking relevant decisions within the corporation and impose those resolutions.

“First and foremost, sharing corporate data with law enforcement is a powerful tool in combating crime. By providing law enforcement agencies access to pertinent data, we empower them to investigate and apprehend these perpetrators swiftly and effectively,” a quino said.

Since 2022, the SEC has been signing agreements with several government agencies, including the Bureau of i nternal Revenue, Bureau of i m migration, Department of Trade and i ndustry- Strategic Trade m a nagement Office, national i ntelligence and Coordinating a gency and Philippine a musement and ga ming Corp.

The list also includes the government Procurement Policy Board, Philippine national Police, and the Department of the interior and Local government.

The adoption of these agreements has yielded requests for beneficial ownership information for more than 5,400 corporations and individuals.

BusinessMirror Editor: Jennifer A. Ng Companies B1 Monday, March 4, 2024
Solar keen on
foreign investors
Dam project ahead of schedule’ SEC inks data-sharing deals with 9 agencies DigiPlus hikes CSR budget
Terra
forging ties with
‘Wawa
aming firm DigiPlus interactive Corp. said it will spend some P100 million on various corporate social responsibility (CSR) projects and initiatives that provide support to important causes through the BingoPlus Foundation. The amount allocated for 2024 is 5 times more than the previous year’s budget of P20 million for corporate outreach projects, the company said. “Through the foundation, we provide concrete support to members of the community that have helped make us such a successful business to begin with. That’s why this year, we’re going the extra mile to strategically offer the best possible support and assistance to Filipinos via four pillars of advocacy,” company president andy Tsui said. The company’s foundation identified “four pillars of advocacy” it is seeking to focus on. The first is on education, which hopes to alleviate the financial strain for promising young students studying technology, so that they may focus on developing their skills and abilities instead. VG Cabuag Eternal Plans marks 43rd anniversary Meralco, GNPD seek ERC nod for 15-year deal “Right now, SPnEC [SP new Energy Corp.] owns 100 percent of Terra Solar. We will have to get new investors
BusinessMirror file photo

Banking&Finance

NG borrowed ₧30B more from foreign debt market

Tpercent from the P1.643 trillion recorded in 2022.

The national government’s gross domestic borrowings last year comprised P1.175 trillion worth of fixed-rate (net) T-bonds, P355.448 billion retail T-bonds (RTBs), and net availment of T-bills amounting to P119.531 billion.

The national government has also successfully borrowed P15 billion from its maiden Tokenized bond offering in November 2023.

From rates as low as 4.212 percent to a high of 5.387 percent in January 2022, the auction of T-bills had rates ranging between 4.996 percent and 5.732 percent

by the end of last year. The net borrowings of T-bills last year amounted to P119.531 billion from -P385.782 billion in 2022, indicating that the government was able to raise more from the short-term debt papers than pay for the amount of its maturities.

Net fixed rate T-bonds issued by the Treasury last year, meanwhile, declined by 1.59 percent to P1.175 trillion from P1.194 trillion in 2022. Treasury data also showed that RTBs issued by the national government last year posted a sharp double-digit decrease by 69.79 percent year-on-year to P252.091 billion from P834.479 billion.

In terms of external borrowings, the national government borrowed a total of P559.035 billion, 6.97 percent higher than the P520.091 billion recorded in 2022, Treasury data showed.

Last year’s external borrowings were composed of P163.607 billion global bond issuance, P135.858 billion project loan, P204.279 billion program loan, and P55.291 billion Islamic certificates.

Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said that the narrower budget deficit for 2023 accounted for the growth in borrowings last year despite higher debt servicing costs.

“Low growth in borrowings would bode well to temper the growth in the outstanding national government debt stock and would help bring down the debt-to-GDP ratio to below the international threshold of 60 percent,” Ricafort said.

This, the RCBC executive said, would help debt management sustainable over the long term and for the coming generations.

“Possible [US Federal Reserve] rate cuts later this year that could be matched locally could somewhat help ease debt servicing costs and overall borrowings,” Ricafort added.

Solon backs Philhealth hike for cancer patients

THE office of Speaker Ferdinand Martin G. Romualdez said last Sunday the lawmaker backed the decision of the Philippine Health Insurance Corp. (PhilHealth) to increase from P100,000 to P1.4 million the “Z benefit package” for breast cancer patients, while reiterating his call to further expand other benefit packages and services to include early detection of cancer.

Romualdez emphasized the importance of expanding benefits and services, particularly early cancer detection, to improve accessibility to cancer care and address various diseases, as he highlighted the rising incidence of breast cancer in the Philippines.

“We applaud PhilHealth for its substantial increase in support for breast cancer patients, marking a significant stride towards advancing healthcare,” the Speaker said. “Expanding other benefits and services, particularly in early cancer detection for timely interventions, is essential to ultimately enhance accessibility to cancer care and for addressing other diseases.”

The House chief also emphasized the significance of early detection in improving cancer survival rates and urged PhilHealth to further expand its benefit package and services to include comprehensive cancer screening programs.

“While increasing the benefit package for breast cancer patients is a commendable step, we must not overlook the importance of early detection in saving lives. I encourage PhilHealth to consider expanding the package to cover the cost of cancer screenings, enabling early detection and intervention,” Romualdez said. Breast cancer is the most common cancer among women in the Philippines, with a rising incidence rate in recent years. Romualdez highlighted the need for comprehensive support, including financial assistance and quality healthcare services, to effectively combat the disease.

In alignment with the Speaker’s vision, PhilHealth also increased all benefit packages by 30 percent, reflecting a commitment to accessible and affordable healthcare, the statement read.

Last month, Romualdez directed the House Committee on Health to conduct a

Electronic transmissions still

duty-free until March 2026

MEMBERS of the World Trade Organization (WTO) have agreed to maintain the current practice of not imposing duties on electronic transmissions until March 31, 2026, or the 14th Ministerial Conference (MC14), taking into consideration the economic, financial and development needs of developing and least-developed country members.

“We agree to maintain the current practice of not imposing customs duties on electronic transmissions until the 14th Session of the Ministerial Conference or 31st March 2026, whichever is earlier. The moratorium and the Work Programme will expire on that date,” the draft ministerial decision of the members read.

In its draft ministerial decision dated March 1, 2024, the WTO said “We agree to hold further discussions and examine additional empirical evidence on the scope, definition, and the impact that a moratorium on customs duties on electronic transmis-

thorough review of the PhilHealth Charter, aiming to expand patients’ benefits, particularly in early cancer detection. This directive seeks to enhance healthcare coverage comprehensively for Filipino patients, emphasizing the necessity for more inclusive services.

The Speaker’s directive targets increasing benefits to cover at least 50 percent of costs in private hospital wards and providing free examinations for early detection of diseases like cancer. Preventive measures include critical diagnostic exams such as x-rays for lung cancer, mammography for breast cancer, and the HPV vaccine to prevent cervical cancer.

The Speaker emphasized the need for PhilHealth to function similarly to a health maintenance organization, or HMO, redirecting resources towards safeguarding public health rather than investing in commercial banks and bonds.

During the ensuing hearing of the House Committee on Health, PhilHealth officials pledged to adhere to the Speaker’s directive to improve their services and the benefits provided to members.

In addition to augmenting the benefits for cancer patients, Ledesma noted that PhilHealth also improved other patient benefit packages. For instance, high-risk pneumonia saw an increase from P32,000 to P90,100, marking a 182-percent rise. Acute stroke ischemia rose from P28,000 to P76,000, reflecting a 171-percent increase, while acute stroke hemorrhagic increased from P30,000 to P80,000, a jump of 111 percent.

During the hearing, Philhealth President and CEO Emmanuel R. Ledesma Jr. noted that the Z Benefit Package for colon and rectal cancers has been recently enhanced, enabling patients with metachronous colorectal tumors to access the package for both colon and rectal cancer treatments.

Ledesma said that PhilHealth has revised its policy on select orthopedic implants, allowing beneficiaries to utilize a maximum of two “Z benefit packages,” regardless of laterality, for procedures performed on different dates or on the same day within the same confinement period.

The package rate for select orthopedic implants has been increased to address rising costs and reduce surgery delays, Ledesma added.

sions might have on development, and how to level the playing field for developing and least-developed country Members to advance their digital industrialization.”

Further, the international trade organization said its over-160 member countries agreed to engage on the “main trade-related challenges” faced by developing and least-developed country Members in the development of their digital economy.

This includes providing training and technical assistance and identifying gaps in support of addressing the digital divide especially for

Perspectives

micro-sized, small-scale and medium-sized enterprises to realize the potential of the digital economy, the Ministerial Conference noted.

For the Philippines’s part, Trade and Industry Secretary Alfredo E. Pascual underscored the “critical role” of the WTO moratorium on ecommerce custom duties, saying this will help increase digital inclusion, especially in developing countries like the Philippines to “actively participate” in the global digital marketplace.

“Like many developing Members, digital trade, including electronic commerce, is of key strategic interest to the Philippines. Specifically, we see digital innovation among the many aspects of the broad digital trade and digital economy as a primary mover in accelerating economic development,” Pascual was quoted in a statement the Department of Trade and Industry (DTI) issued last Friday.

The DTI emphasized that the extension of the moratorium on imposing customs duties on electronic transmissions is “one crucial issue” that needs to be resolved at the MC13 as its extension is viewed to “bridge the digital divide.” Pascual said he sees the value in extending the moratorium to “ensure stability in the business environment and prevent unintended consequences or disruptions in trade.”

Charting a course through complexity

THE business landscape, as illustrated by the 2023 KPMG CEO Outlook survey, is undergoing a profound transformation, shaped significantly by geopolitical challenges. This annual survey, drawing insights from more than 1,300 CEOs of the world’s largest businesses, has become a barometer of corporate sentiment, reflecting the concerns and strategies of global leaders.

Out of 1,325 corporate executives across the globe, with 400 business leaders from the Asia Pacific (ASPAC) region, they have provided their perspective on the dominant trends in the business landscape and revealed their crucial next steps.

Geopolitical Challenges: Redefining Risk in Business

IN the field of business risks, geopolitical uncertainties have surged to the forefront, surpassing previous concerns. This shift is remarkable, especially considering that these concerns didn’t even make the top five in the 2022 survey. The volatile interplay of global politics, trade dynamics, and international relations has created an atmosphere of unpredictability, forcing CEOs to reevaluate their strategic approaches. Geopolitics and political uncertainties are now perceived as the most significant threats, prompting a reassessment of risk management strategies across industries.

Workplace Dynamics in Flux:

Tradition Versus Change

THIS year’s challenging global landscape underscores the pressures CEOs feel to make decisions on a variety of critical issues—and they impact how CEOs plan to support and attract talent over the next three years.

The survey highlights a clear divide in how CEOs view the future of work. Even though hybrid work models have gained popularity, a significant 64 percent of global CEOs expect a complete return to the way things were before the pandemic, where everyone worked from the office. This remains consistent with their views in the 2022 CEO Outlook. Moreover, this raises concerns about how well this traditional setup aligns with the changing needs and expectations of the modern workforce.

The responses align with those from CEOs in the Asia Pacific region, including the Philippines. When asked, “In three years’ time, how do you envision the working environment for corporate employees whose roles were traditionally based in-office?,” sixty two percent of the respondents expressed their expectations of going back to the traditional setup where employees are in the office.

This sentiment underscores the persistence of traditional office-centric thinking among CEOs. It comes against a backdrop of the debate surrounding hybrid working, which has had a largely positive impact on productivity over the past three years and has strong employee support, particularly among the younger generation of workers. As organizations continue to roll out their return-to-office plans, it is crucial that leaders take a long-term view that embraces the employee value proposition and encompasses the considerations and needs of employees to ensure that talent is nurtured and supported.

Additionally, ASPAC CEOs are inclined to reward employees who choose to return to the office voluntarily. Ninety percent of them state that they are likely to provide those making an effort to come into the office with favorable assignments, raises, or promotions. This percentage is higher than the 87 percent of Global CEOs surveyed worldwide.

With more employees demanding greater flexibility in their work environment—especially among younger workers and female employees—the 62 percent of ASPAC CEOs who expect a complete return to in-office work may confront workplace tensions that could challenge their perspective. Executives in the region must learn to manage employee expectations on flexible work setups, while maintaining openness to workplace solutions that do not always require staff to be present in-office.

KPMG in the Philippines Chairman and CEO, and Head of People, Performance and Culture Sharon G. Dayoan shares, “The Philippine business community is also grappling with the balance between traditional office setups and the evolving preferences of the workforce, especially considering the widespread adoption of remote and hybrid work models.”

“This concern with providing a flexible work set up to retain talent while also establishing measures to ensure work integrity, mirrors the discussions happening in Philippine boardrooms. Industry leaders are seeking appropriate approaches to ensure they remain competitive while meeting the needs of their employees,” Dayoan added.

In essence, while there is a pull towards the familiarity of traditional office norms, there’s also an openness to adapt and recognize the changing nature of work. This suggests a delicate balance between maintaining established practices and embracing the need for flexibility and employee preferences in the evolving work landscape.

“In the workplace, a tension between tradition and adaptability persists, where a pull towards familiar office norms coexists with an openness to adapt to employee preferences. Amidst these uncertainties, KPMG CEO Outlook suggests that pragmatic strategies are the need of the hour, where business leaders must navigate diverse workforce needs with tailored solutions,” Dayoan concluded.

Inclusion, Diversity and Equity: The Imperative for Progress

AS the workplace transforms to account for greater inclusion, diversity and equity (IDE), ASPAC CEOs are cognizant of the role they must play to create a level playing field in their organizations. Yet companies in the region fare poorly compared with their global peers when it comes to achieving equity and diversity in their organizations—especially at higher levels of corporate leadership. Considering that 90 percent of CEOs in ASPAC are likely to reward workers who strive to appear in-office, business leaders should be alert to the potential of encouraging gender disparities in the workplace—more so for female workers, especially mothers, who will require slightly more time off than their male peers. Favor given to employees who appear in-office can also slow the progress on gender diversity in the C-suite. Executives in the region are encouraged to be vigilant to these risks, and to create a stronger push for inclusion, diversity and equity in their organizations.

Companies in the Asia Pacific region

The Trade Secretary said the Philippines’s digital economy is expected to continue its double-digit climb towards $35 billion by 2025, which he added is largely fueled by e-commerce.

In a statement last February 2, the International Chamber of Commerce and over 170 business associations from across the world called on the members of the WTO to renew the WTO moratorium on customs duties on electronic transmissions at the WTO’s MC13.

The international business groups highlighted that without the renewal, the future of e-commerce and digital trade “hangs in the balance.”

“Governments could start to experiment with unilateral tariffs on everything from software, e-books, and cloud services to the data underlying popular streaming services, disrupting the digital economy and creating havoc for businesses across the world who all depend on the Moratorium to grow and operate their businesses,” the groups stressed.

The statement further noted that allowing the moratorium to expire would be a “historic setback” for the WTO, representing an “unprecedented termination of a multilateral agreement in place since 1998,” which it said is more critical than ever at a time of “unprecedented digital transformation.”

may have to reevaluate their positions on strengthening these IDE values, or be left behind by other firms. It remains to be seen if this will happen, given that only 54 percent of ASPAC CEOs believe that progress on diversity and inclusion has moved too slowly in the business world, compared to 66 percent of CEOs globally, illustrating that the push for change from the top is not as strong as it ought to be.

“Many local and global companies are recognizing the importance of fostering diverse and inclusive workplaces. Philippine businesses should continue exploring more proactive measures and transformative changes at the leadership level to push forward their own IDE narratives,” Dayoan added.

How KPMG can help

CONNECT with our KPMG professionals from the Global Mobility Services team and see the big picture about the importance of Talent when it comes to making a true impact and explore actionable approaches in various areas, such as technology solutions and services around your businesses’ policy reviews, vendor management, sustainable compensation, reporting and data management and flexible work arrangements. With our wide array of client experience and thought leadership materials (e.g., flash alert, webcast/podcast, etc.), we can collaborate and help you transform how you and your company face the challenges posed by talent constraints while leveraging technology, making your HR functions become more agile and responsive to your employees’ needs.

This article contains information from the 2023 KPMG Global CEO Outlook Survey (https://kpmg. com/xx/en/home/insights/2023/09/kpmg-globalceo-outlook-survey.html) and the 2023 KPMG ASPAC CEO Outlook Survey (https://kpmg.com/xx/ en/home/insights/2023/12/kpmg-2023-ceo-outlook-asia-pacific.html). © 2024 R.G. Manabat & Co., a Philippine partnership, is a member firm of a global organization of independent member firms affiliated with KPMG Int’l Ltd. All rights reserved. This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent the BusinessMirror KPMG International or KPMG in the Philippines.

BusinessMirror
Estopace • Monday, March 4, 2024 B3 www.news.businessmirror@gmail.com
Editor: Dennis D.
HE national government’s total borrowings last year posted a low single-digit growth at 1.38 percent on an annual basis to P2.193 trillion due to a narrower budget deficit posted in 2023. The latest Bureau of the Treasury (BTr) data showed the national government’s total borrowings last year was P30-billion higher than the P2.163 trillion recorded in 2022. Moreover, the national government’s borrowings last year were P9 billion below its P2.202 trillion target amount, based on government data. The government’s target borrowings were anchored on a 75:25 mix, wherein 75 percent of the amount would come from the local debt market while the remaining quarter would be borrowed externally. Treasury data showed that the national government’s foreign borrowings climbed to P559.035 billion, 7.49-percent higher than the P520.091 recorded in 2022. Meanwhile, the country’s borrowings from the domestic debt market through the sale of Treasury bills (T-bills) and Treasury bonds (T-bonds) declined to P1.634 trillion, down by 0.54

How Chinese science fiction went from underground magazines to Netflix extravaganza

For a few days in october 2023, the capital of the science fiction world was Chengdu, China. Fans traveled from around the world as Worldcon, sci-fi ’s biggest annual event, was held in the country for the first time.

It was a rare moment when Chinese and international fans could get together to celebrate the arts without worrying about the increasingly fraught politics of China’s relationship with the West or Beijing’s tightening grip on expression.

For Chinese fans like Tao Bolin, an influencer who flew from the southern province of Guangdong for the event, it felt like the world finally wanted to read Chinese literature. Fans and authors mingled in a brand new Science Fiction Museum, designed by the prestigious Zaha Hadid Architects in the shape of a huge steel starburst over a lake.

But three months later, much of that goodwill turned sour as a scandal erupted over allegations that organizers of the Hugo Awards— sci-fi’s biggest prize, awarded at Worldcon—disqualified candidates to placate Chinese censors.

The event embodied the contradictions that Chinese science fiction has faced for decades. In 40 years, it’s gone from a politically suspect niche to one of China’s most successful cultural exports, with author Liu Cixin gaining an international following that includes fans like Barack Obama and Mark Zuckerberg. But it’s had to overcome obstacles created by geopolitics for just as long.

With a big-budget Netflix adaptation of his The Three-Body Problem set to drop in March, produced by the same showrunners as Game of Thrones, Chinese sci-fi could reach its biggest audience yet.

Getting there took decades of work by dedicated authors, edi -

tors and cultural bureaucrats who believed that science fiction could bring people together. “Sci-fi has always been a bridge between different cultures and countries,” says Yao Haijun, the editor-in-chief of Science Fiction World, China’s oldest sci-fi magazine. “Every author can have their own vision of the future, and they can coexist and be respected even if they clash.”

A SMALL STEP FOR A PROVINCIAL BUREAUCRAT

C H INESE s ci-fi’s journey abroad started with another convention in Chengdu three decades ago, but politics nearly derailed that one before it could get off the ground.

Science Fiction World planned to host a writers’ conference in the city, known for its panda sanctuary and countercultural bend, in 1991. But as news of the brutal crackdown on student protesters in Beijing’s Tiananmen Square circled the globe in 1989, foreign speakers were dropping out.

The magazine sent a small delegation to Worldcon 1990, hosted in The Hague, to save the conference. Its leader was Shen Zaiwang, an English translator in Sichuan province’s Foreign Affairs Department who fell in love with sci-fi as a child after reading Jules Verne books like Twenty Thousand Leagues Under the Sea. He packed instant noodles for the weekslong train journey across China and the fragmenting Soviet Union.

In The Hague, Shen and former magazine editor Yang Xiao used toy

pandas and postcards of Chengdu to make the case that the city—more than 1,800 kilometers (1,000 miles) from Beijing—was friendly and safe to visit.

“We tried to introduce our province as a safe place, and that the people in Sichuan really hope the foreign science fiction writers can come and have a look and encourage Chinese young people to read more science fiction novels,” Shen says.

In the end, a dozen foreign authors attended the conference. It was a small start, but it was more than anyone could have imagined a few years earlier.

A GIANT LEAP FOR THE GENRE C H INESE s ci-fi had faced decades of suspicion at home.

The genre flourished in China in the first half of the 20th century, fueled by an interest in new technology and translated stories from abroad. But it disappeared during the Cultural Revolution, a tumultuous decade beginning in 1966 when Maoist radicals targeted “bourgeois” elements including both scientists and many types of literature.

Sci-fi saw a resurgence as China began opening to the world after the Mao era in the late 1970s and early 1980s. Authors like Zheng Wenguang and Ye Yonglie wrote stories about traveling into space, while China’s nascent space program launched its first satellites into orbit. Regional magazines such as Chengdu’s Science Fiction World mushroomed.

But in the early 1980s, Beijing initiated a nationwide “spiritual pollution cleaning” campaign to quash the influence of the decadent West, and sci-fi was accused of being unscientific and out of line with official ideology. Most of the young publications were shuttered.

Down in Chengdu, Science Fiction World’s editors kept going.

“They believed if China wanted to develop, it needed to be an innovative country—it needed science fiction,” Yao, the editor, said in a recorded public address in 2017.

The magazine set out to change negative public perceptions about

sci-fi. In 1997, six years after the Chengdu conference, it organized another international event in Beijing, headlined by American and Russian astronauts. The conference got attention in the Chinese press, giving sci-fi a cool new aura of innovation, exploration and imagination, Yao says. It also paved the way for an international liftoff.

LIU CIXIN’S BIG BANG

C HI NA S g rowing sci-fi fandom was devouring translated works from abroad, but few people abroad were reading Chinese stories. Liu Cixin was going to change that.

A soft-spoken engineer at a power plant in the coal-dominated province of Shanxi, his stories—which mixed massive engineering projects capable of moving whole planets with moments of quiet human emotion—were hits with genre fans.

But The Three-Body Problem, first serialized by Science Fiction World in 2006, reached a level of popularity unseen by other Chinese works, says Yao, who edited the novel.

When it came out as a book, fans in Chengdu mobbed the release at a local bookstore, says Yang Feng, the founder of local independent publisher Eight Light Minutes Culture. They encircled the building, holding signs with “I love you, Liu Cixin!” Authorities took note. The China Educational Publications Import & Export Corporation, the stateowned publications exporter, picked up the novel and its two sequels.

The trilogy’s plot, ironically, centers on the disastrous consequences of sending a message to a distant alien world. The Dark Forest, the second volume, is named for a view of the universe as a dog-eat-dog struggle for survival in which the best way to survive is to hide.

The translations were intended from the start as “a big cultural export from China to the world, something very highly visible,” says Joel Martinsen, who translated The Dark Forest. But no one could have anticipated the critical and popular success: In 2015, Liu became the first Asian author to win a Hugo Award

for a novel.

“There was something quite fresh and raw and eye-catching, and even sometimes very dark and ruthless in his work,” says Song Mingwei, a professor of Chinese literature at Wellesley College. “That made readers feel like, ‘Wow, this is impressive.’”

Song says Liu hit a sweet spot between familiar Western genre tropes and references to China’s difficult history. The trilogy is now “a classic,” he added. The next year, Beijing-based writer Hao Jingfang beat Stephen King to win a Hugo for short fiction with a story she originally published on a university web forum, about social inequality in a surreal version of China’s capital.

INTERCEPTED BY BEIJING

L I U ’ S t ranslations were also a political breakthrough for the genre: In two decades, it had gone from barely tolerated to a flagship export of China’s official cultural machine. The government encouraged the growth of an industry spanning movies, video games, books, magazines and exhibits, and set up an official research center in 2020 to track its rise. A blockbuster set in the world of Liu’s short story The Wandering Earth broke domestic box office records and spawned two sequels; however, it saw limited distribution and mixed reviews abroad.

Worldcon Chengdu was to be the crowning achievement of these efforts.

When the location was announced, some international fans criticized the choice, citing human rights, censorship and concerns about the voting process.

The event itself was seen as a success.

But in January, when the Hugo committee disclosed vote totals, the critics’ suspicions seemed to be confirmed. It turned out several candidates had been disqualified, raising censorship concerns. They included New York Times bestselling authors R. F. Kuang and Xiran Jay Zhao, both politically active writers with family ties to China.

Leaked internal emails—which The Associated Press could not independently verify—appeared to show that the awards committee spent weeks checking nominees’ works and social media profiles for statements that could offend Beijing, and sent reports on these to Chinese counterparts, according to an investigation by two sci-fi authors and journalists. They don’t show how the reports were used or who made the decisions about disqualification.

The Hugo awards organizers did not respond to requests for comment by the AP.

Liu himself is not a stranger to controversy. He faced backlash for defending the Chinese government’s oppressive policies toward the Uyghur ethnic minority in Xinjiang in a 2019 interview with The New Yorker magazine. Netflix has faced calls to cancel the series over the controversy. Netflix representatives have not answered emailed questions by the AP.

NEW HORIZONS DE SPITE t he frictions, Chinese scifi remains poised to continue its international rise. Netflix’s adaptation of the The Three-Body Problem could bring it to a vast new audience, a coming-out orders of magnitude bigger than Shen Zaiwang’s trip to The Hague.

And insiders like Song and Yao are looking forward to a new generation of Chinese sci-fi authors that’s starting to be translated into English now.

It’s led by younger, female writers who were educated abroad, such as Regina Kanyu Wang and Tang Fei. Their works explore themes that resonate with younger audiences, Song says, including gender fluidity and environmental crises.

“When doing anything with the endorsement of either the market or the government, imagination can dry up very quickly,” Song says. “I think often the important thing happens on the margin.”

Yao continues to believe in sci-fi’s role as a bridge between cultures, even in turbulent times.

Explainer B4 BusinessMirror Monday, March 4, 2024 www.businessmirror.com.ph
A MAN looks at copies of The Three-Body Problem on display at a bookstore in Beijing on Monday, February 19, 2024. The series, written by former engineer Liu Cixin, helped Chinese science fiction break through internationally, winning awards and making it onto the reading lists of the likes of former US President Barack Obama and Mark Zuckerberg. AP/Andy Wong

Selena Antonio-Reyes: The power of representation

ExCLUSIVE

PROMOS FOR RUSTAN S BE AUTY ADDICT MEMBERS

iT is Rustan’s Women’s Month and the retail brand’s celebration extends with gifts for the ladies. From March 1 until April 30, Rustan’s Beauty Addict members who shop at least P30,000 worth of products and services at Rustan’s The Beauty source are entitled to a complimentary exclusively designed Zarah Juan Mobula Bag. Available in natural white, black and tan colorways, the fashionable accessory also serves as a testament to Rustan’s commitment to promoting local craftsmanship and style.

Also, during the GRLPWR event on March 7, the first 100 Beauty Addict members who purchase any amount in the beauty department will receive an exclusive Rustan’s The Beauty source Macrame Water Tote. This accessory not only completes your summer gear but also adds a cute touch to your beauty essentials (because hydration is definitely a beauty-must!).

Moreover, there is the retailer’s biggest summer raffle promo: for every purchase of P5,000 at Rustan’s The Beauty source from now until May 31, Rustan’s Beauty Addict members are entitled to one e-raffle entry for a chance to win an all-inclusive four-day stay for two in the Garden view villa of Nay Palad Hideaway in siargao, inclusive of round-trip flights. so, not only can you enhance your beauty collection, but you also stand a chance to win an unforgettable getaway this summer.

Finally, from March 8 to 31, 2024, Rustan’s Beauty Addict members can enjoy five times the Beauty Addict points for any purchase at Rustan’s The Beauty source. More information is available at rustans-thebeautysource.com.

AT the 1957 Miss Universe pageant, Miss USA Mary Leona Gage was among the Top 15 semifinalists. However, it was revealed that she was a married woman with two young kids. She violated the rules which stated that contestants must be unmarried, never married, and never had children. Gage was eventually stripped of her title and wasn’t allowed to compete at the finals.

(Gladys Zender of Peru was crowned. Our bet was Mary Ann Corrales, who was unplaced.)

But those were the bygone days of pageantry.

Nowadays, the Miss Universe Organization has lifted the restrictions on age, married women and mothers, thereby opening the floodgates for aspiring candidates who have been prevented from pursuing their dreams. One of the most inspiring—and intriguing—delegates at Miss Universe Philippines

2024 is Selena Alexis Antonio-Reyes. She is 38. She is married to Dino Reyes. She is a mother to two young kids, son Theon and daughter Savi. She is representing Pasig City. “I embody the essence of today’s woman: mother, wife, businesswoman, and fitness advocate. My story showcases resilience, strength, and the power of chasing dreams at any age. I represent inclusivity, empowerment, and the beauty of embracing every aspect of womanhood. I represent you,” Selena stated in her Instagram. Selena, who competed at Binibining Pilipinas 2010 and Century Tuna Ageless Superbods 2022, still believes that “it’s never too late to chase your dreams and redefine yourself.”

Here, the feisty Pasigueña shares her thoughts at her special meet-and-greet with the press at the St. Gerrard Construction Building in Pasig City.

ANAK NG PASIG

“[MAyOr Vico Sotto and I] talked about how important it is for moms to take care of themselves mentally and physically. We want to organize fitness classes, yoga sessions, and workshops on managing stress and self-care, all designed for moms. It’s also crucial to show moms that they have support networks and community resources to help them. Our goal is to empower moms to focus on their health and happiness, which benefits both them and their families.”

FAMILY AS FIERCEST CHEERLEADERS

Linen Blend easy Pants (from P990 to P790).

For every minimum spend of P2,500 on LifeWear items from March 1 to 7, you earn one free Uniqlo Limited edition Novelty item through an exciting arcade game of pachinko. More surprises are in store for early-bird shoppers at Uniqlo venice Grand Canal. From March 4 to 7, the first 100 customers will receive one P100-off voucher from Grab Philippines.

More information can be found at www.Uniqlo.com/ph

“IF your suitor has this black backpatch on his Levi’s jeans, it means that he’s rich,” someone jokingly remarked during the Levi’s 2024 Press Preview.

The leather patch is usually a light tan. A black backpatch on Levi’s jeans means it’s a pair that was Made in Japan. The prices for Levi’s Made in Japan jeans start at around P8,000+ and could reach up to P18,000.

Why are they so expensive?

Denim in Japan is woven on vintage shuttle looms.

These fabrics are more durable, they are thicker, and have better fades. Levi’s Made in Japan jeans are

My kids and my family have always been my No. 1 support system ever since I joined pageants even for work. They have always been there for me cheering me on during the pregnancy, my little girl, my son, my husband, they’ve graciously accepted what I love doing, which is modeling, doing pageants. Trying to inspire women, and trying to inspire moms that there’s no age limit if you want to be someone and if you want to achieve something in your life.”

ON POSTPARTUM STRUGGLES AND OVERCOMING THEM

“AS a mom, it was hard when you give birth obviously.

going to change. I’m going to be better, be a better person. So that’s when I started to workout and that’s when I found out the perfect link of depression or anxiety to fitness.

“Doing workouts became my stress-reliever. During the pandemic, since everybody was stuck at home, ’yung iba kumakain. I turned to working out. I would workout morning, afternoon, dinner. So three times a day, I worked out every single day during the pandemic. So that’s why I was able to reach the body that I have now. Grabe, hard work and dedication ’yung binuhus ko talaga.

“And then hanggang sa ngayon, I’m happy naman na—I think for four years na—na maintain ko pa din. Kala ko kasi, before, I didn’t naman want na magka abs or, alam mo ’yun, as in sobrang maging okay ’yung katawan. Naging plus na lang siya na, ay, may abs ako. Ay may cuts ang arms ko. So parang mas na motivate ako na to workout pa. Up to now nagagawa ko pa rin siya kahit I have a family. I have businesses to take care of. And also my influence on other moms and friends. That’s one plus side, I think, of also me being fit. Being fit kasi, unconsciously I didn’t know I was already motivating my friends, motivating family.

“My daughter is a Spartan obstacle course athlete. I didn’t expect her to like it kasi lalambitin ka, nandun ka sa putikin, nandun ka sumasabit wherever, mainit. I didn’t expect her to enjoy it. My husband also is a

made from selvedge denim. Selvedge is a process that utilizes the edge of the fabric as the garments out-seam and it contributes to a denser weave that prevents the out-seam from fraying with wear. To know if a pair of jeans was made from selvedge denim,

you can cuff the pants. A smoothly woven out-seam means the jeans are made from selvedge denim. By the way, selvedge is derived from self-edge to refer to the finished edges that do not fray. For the Levi’s Spring/Summer 2024 “Made in Japan”

as possible, I would like to just focus on myself and try to not entertain any negativity.”

ON THE ISSUE OF OLDER, TRANS, MARRIED AND MOM CONTESTANTS NOT WINNING

“IN light of the recent discussions suggesting that individuals like myself—mothers, those of us considered above the traditional pageant age, or members of the transgender community—face unwinnable odds in prestigious competitions like Miss Universe. Each perceived ‘disadvantage’ has only served to strengthen my belief in the power of diverse representation.

“I am happy that diversity and inclusivity have been considered for Miss Universe, whether it is for communications purposes only or for any other reasons. What is important is it had opened opportunities that was not previously available. Now is my chance to prove that this opportunity of mine to be in @themissuniverseph is now a reality and can now be a possibility. I am grateful for that.”

MOTHERHOOD STATEMENT

“I MEAN, it’s not bad to shoot your shot, right? I tried my shot. It was offered to me. So, I grabbed that opportunity to make the most out of it. I want to make each and every one of you proud and I’m just really grateful and thankful for all your support.” n

collection, you’ll find colored embroidery and a unique approach to patch and repair featuring a range of simple as well as intricate finishes.

The Levi’s Made in Japan line is made from textile sourced from the renowned Hiroshima-based Kaihara Denim Mill, which is known for its vintage shuttle looms and unique rope-dyeing techniques. For this collection, Levi’s collaborated with SAAB, a sewing and finishing company renowned for its artistry. Each piece in this collection becomes a testament to human ingenuity and skill.

The Levi’s Made in Japan collection has traditional fits updated with premium fabric and fine craftsmanship.

The line’s flagship 501 model has either an “Atlas” patch that resembles a map of the Earth or a series of tiny stitches down the leg. The 505 Regular Fit jeans come with embroidered tonal patches.

The “Made in Japan” Classic Type II and III jackets come in a dark, moody wash with the former’s silhouette featuring distinct embroidery. The Type III jacket’s design is made for versatile styling.

All pieces, of course, have the “Made in Japan” backpatch, an inner flag-inspired label, and a hidden indigo tab.

na rin.
B5 Style Editor: Gerard S. Ramos • Monday, March 4, 2024 www.businessmirror.com.ph BusinessMirror Levi’s Made in Japan collection intertwines the richness of history with contemporary flair. PHOTO BY DINNA CHAN VASQUEZ Miss Universe Philippines Pasig 2024 selena Alexis Antonio-Reyes with her kids Theon and savi. @MUPH PASIGCITY
are more expensive UNIQLO PHL OPENS VENICE GR AND CANAL STORE WITH WEEK-LONG PROMOS MARK your calendars as global apparel retailer Uniqlo opened its newest store at the ground floor, san Marco wing of venice Grand Canal Mall in Taguig City on March 1 with week-long special promos and exclusive offers. From limited-edition Uniqlo novelty items to free parking, there are tons of exciting rewards that await the first shoppers in the new Uniqlo Philippines store in Mckinley Hill, Fort Bonifacio. Make sure to take advantage of all these deals, available only during the new store’s first week. exclusive offers on until March 7 range from everyday casual wear like the Uniqlo U Crew Neck T-shirt (from P590 to P390) and the easy Cargo Pants (from P1990 to P1490). everyone’s favorite, the Round Mini shoulder Bag (from P790 to P590), is up for grabs, as well as its Uniqlo Marimekko variation. Be ready for summer with these essential Linen items like the Linen Blend Camisole Dress (from P2490 to P1990) and the
Why Made in Japan jeans

TANDUAY’S PREMIUM RUMS

ENHANCING the airport experience, Tanduay has opened a bespoke bar for guests at the newly inaugurated Philippine Airlines (PAL) Mabuhay Lounge of the Ninoy Aquino International Airport (NAIA) Terminal 1 in Pasay City.

Designed by Atelier Almario, the PAL Mabuhay Lounge occupies a 1,200-sq.m. area and has a seating capacity of 294. It is a place where passengers can enjoy respite and good food before taking their international flights.

It is exclusive to PAL’s Miler members who have a scheduled flight for the day.

The PAL Mabuhay Lounge has a seating area where passengers can enjoy plane spotting and a panorama of the suburban Manila skyline, a quiet area for relaxation, an exclusive room for Million Milers, work stations, and a dining area serving delicious Filipino and international dishes.

With the addition of the Tanduay Bar inside the lounge, guests are given the unique opportunity to enjoy exceptional spirits before takeoff at no extra cost. All the drinks are free.

“The Tanduay Bar offers a selection of

drinks that include some of the brand’s premium rums. Tanduay’s products are well-known among our guests, including our foreign passengers. So, having the Tanduay Bar helps further elevate the dining experience at the Mabuhay Lounge,” said Emalyn Lira, Manager for Lounge Services at PAL. She has been with PAL for 39 years and currently oversees its domestic airport lounges.

“We believe in providing an oasis for travelers, and the Tanduay Bar perfectly aligns with our vision. We offer them moments of relaxation amid the hustle and bustle of travel,” she said.

Among the cocktails available at the lounge are the Captain’s Punch made with the Tanduay Superior Rum; Planters’ Punch, Cuba Libre, and Long Island made with the Tanduay Asian Rum Gold; and Mojito made with the Tanduay White Rum.

PAL Mabuhay Lounge Bar Supervisor Jennifer Escaño shared that, among all the Tanduay products available at the bar, the Tanduay Double Rum is the most popular.

“Many passengers want to try the Double

TThe

by president and CEO Anthony L. Almeda, and DICT Secretary Ivan John Uy, signed the lease agreement for the power grid operator’s infrastructure, including its private telecom network infrastructure and substations, on February 28, 2024 at the NGCP Head Office in San Juan City.

RADENTA Technologies, one of the country’s leading solutions integrators, featured the latest security suite from Trend Micro at the recent CyberSecPhil Conference 2024.

T he security predictions of Trend Micro for 2024 touched on how digital innovations can invariably provide opportunities for cybercriminals. “In 2024, tailor-made worms crafted to exploit cloud technologies and misconfigurations will serve as an easy entry point for attackers.”

It was reported that 60 per cent of surveyed API in the form of Kubernetes clusters experienced attacks from malware campaigns and data will be weaponized against cloud-based machine learning (ML) models.

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Rum because it is uncommon for them. They are amazed at its taste, and some of them would even ask us where they could buy a bottle of the Double Rum,” she said. Cocktails, which are created using Tanduay rums, are also popular among passengers.

“Natutuwa po ang mga passengers sa dami

technology, thereby improving internet speeds and accessibility across the country.

Central to NBP is the establishment of a demand-responsive neutral fiber backbone, leveraging NGCP’s private telecom network infrastructure. This backbone will facilitate the laying out of fiber optic cables in 23 strategic sites across Luzon, bolstering ICT infrastructure and fostering improved internet connectivity.

The agreement will help enable the deployment of a robust national broadband infrastructure, enabling the government to leverage a two-terabyte connection originating from the eastern seaboard.

“The signing of the Specific Site Lease Agreement will lead us closer to providing lighting-fast broadband connectivity to Filipinos,” DICT Secretary Ivan John Uy noted.

“We are pleased to stand as a key contributor to the National Fiber Backbone Project of DICT, a transformative initiative that aims to yield tangible benefits for the Filipino people,” Almeda said.

“Together with DICT and the government under the leadership of President Ferdinand Marcos Jr., we work tirelessly to ensure the successful implementation of the NFB project, bringing us one step closer to realizing our shared vision of a digitally inclusive Philippines,” he added.

The National Fiber Backbone (NFB) aligns with the objectives of the National Broadband Plan, a strategic blueprint devised by DICT to accelerate the deployment of fiber optic cable and wireless

a person to give a ransom in exchange for a loved one’s return and voice cloning that is increasingly used for identity theft.

Trend Micro offers a suite of security solutions made for specific threats.

Trend Micro™ Deep Discovery™ Inspector provides network wide detection of targeted attacks, advanced threats, and ransomware. It is a physical or virtual network appliance that monitors 360 degrees of your network to create complete visibility into all aspects of targeted attacks, advanced threats, and ransomware.

D eep Discovery Inspector finds advanced and unknown malware, ransomware, zero-day exploits, command and control and evasive attacker activities that are invisible to standard security defenses. Detection is enhanced by monitoring all physical, virtual, north-south, and east-west traffic.

Deep Discovery Inspector has several key capabilities. It inspects all network content, has extensive detection techniques, comes with custom sandbox analysis, manages detection and response, turns unknown threats to known threats, and provides network analytics.

D eep Discovery Inspector virtual appliances are available at 100/250/500/1000 Mbps capacities and are deployable on VMWare vSphere5 and above as well as KVM.

Trend Micro Managed XDR - Managed Detection and Responsive Service provides expert threat detection, investigation, and hunting. Trend Micro

“I’d like to express my sincerest gratitude to the National Grid Corporation of the Philippines for your proactive response to the President’s vision of the “Bagong Pilipinas”, where every Filipino has access to boundless opportunities and benefits from robust and inclusive digital infrastructure,” Uy emphasized.

The project’s Phase 1 illuminated 26 nodes spanning from Laoag, Ilocos Norte, to Roces, Quezon City, utilizing NGCP’s dark fiber. Subsequent phases will extend network reach, connecting regions across the country and providing broadband internet access to government entities and public places.

In preparation for the operationalization, the DICT has commenced civil works and installation activities for Telecom Shelters within NGCP substations, ensuring the proper housing for Optical Transport Networking (OTN) equipment essential for the project’s success.

is the only vendor that can use its native security stack to offer an integrated managed service across email, endpoints, servers, cloud workloads, and networks. Managed XRD drives unparalleled improvements in security teams, time-to-detect and time-to-respond while minimizing the risks and impact of threats.

Managed XDR supplies 24/7 monit oring and detection, rapid investigation and mitigation, expert threat identification and hunting, investigation, response, reports, and service reviews.

Trend Vision One™ Endpoint Security is the leading endpoint security solution that is purposebuilt for endpoints, servers, and cloud workloads, integrating advanced threat protection, EDR/XDR, and threat intelligence.

It helps str eamline IT/security operations, reduce complexity, and achieve optimal security outcomes across your on-premises, cloud, multicloud,

ng mga products sa Tanduay Bar at nasasarapan po sila sa mga cocktails (Passengers are delighted to see the many product offerings at the Tanduay Bar, and they really enjoy the cocktails),” said Mabuhay Lounge senior bartender Reymond Galang. Galang added that most passengers are

curious about the Tanduay Double Rum. “Nagtatanong po sila kung paano inumin, kung masarap po ba pag neat or may halo (They would ask how it is best enjoyed, whether neat or mixed),” he said.

Galang, who has been working at PAL’s Mabuhay Lounges for seven years, shared that it is always great to see passengers having a good time with the drinks they prepare at the new Tanduay Bar.

“It’s a good feeling to see that they are enjoying their drinks,” he said.

Tanduay International Business Development Manager and Senior Brand Manager Marc Ngo said they wanted the bar to mirror the brand’s quality and excellence.

“From the premium rums to the cocktails, the drinks cater to the diverse tastes of discerning travelers. Passengers can now indulge in the flavors of an iconic Philippine rum while enjoying the comfortable ambiance of the Mabuhay Lounge, giving them an elevated journey that begins well before boarding,” he said.

Tanduay is a sister company of PAL under the Lucio Tan Group, Inc.

PRSP celebrates 67 years of service as PHL’s premier organization for PR professionals

THE Public Relations in the Philippines (PRSP) announced last February 20, 2024 that it is celebrating more than six decades of service to Filipino public relations professionals, supporting young practitioners and helping further hone their talents. With a celebrated history that dates as far back as 1957, post-World War II, the organization has been dedicated to recognizing the importance of PR in business and empowering the people that drive it in motion. Composed of practitioners from various industries including business, government, non-profit organizations, medical, education, tourism and other professional services, PRSP aims to “advance the welfare of the Filipino people through dignified, effective and relevant practice of the art and science of public relations.” This mission of PRSP is fulfilled by continuously cultivating PR as an avenue that builds public confidence in an individual or organization, encouraging the study and improvement of PR among the aspiring and seasoned practitioners, correcting and preventing abuses in PR that tend to undermine public trust and serving as a center of information of latest data to its members.

Throughout its service, the organization has

held prestigious events that uphold the important contributions of PR practitioners, cultivate stronger relationships among the members of the organization and the industry and accompany them in honing their talent in PR.

These events include the Anvil Award, an awards program that recognizes the use of outstanding PR tools and programs; the National Public Relations Congress, a gathering of PR and communication experts all over the country to discuss the latest trends and techniques in PR; the Professional Development Seminar, a quarterly hands-on training on effective PR communication strategies; and the Student Congress and Grand Prix Competition for aspiring PR practitioners to provide them with hands-on PR experiences led by industry professionals.

This year, with the theme “PR for All,” PRSP will continue to fulfill its mission by creating an inclusive, ethical, honorable and transparent community where all professionals, whether young or veteran, can thrive.

“Congratulations to PRSP for 67 years of advancing the practice of PR profession in the Philippines and for continuing to uphold the integrity and maintaining the highest ethical standards in the PR industry,” said PRSP President Andy Saracho, APR.

Corsa Motorcycle Tires join Fedpublika 2024 in Malolos

CORSA Motorcycle Tires Philippines participated last February 24, 2024 at the Malolos Febpublika 2024 event held at the Malolos Convention Center. This collaboration with the Local Government Unit (LGU) of Malolos marked the company’s significant contribution to celebrating the founding of the First Republic, enriching the festivities with an exhilarating display of skill and precision.

As part of the event, Corsa Motorcycle Tires Philippines supported the Motostunt Riding Competition, aimed at uplifting the spirit of stunt masters across the Philippines. The competition served as a platform to foster the development of riding skills in a controlled environment through healthy competition. Emphasizing the belief that riding is not merely a mode of transportation but an art form requiring precision control, the event aimed to hone skills and discipline among riders.

“We are thrilled to be part of Malolos Febpublika 2024 and to support the Motostunt Riding Competition,” said Janis Crisostomo, Marketing Consultant of Corsa Motorcycle Tires Philippines. “At Corsa, we understand the importance of providing riders with the necessary tools and support to enhance their riding experience. Our high-performance tires are

designed to offer superior grip and control, ensuring riders push the boundaries of their skills safely.”

The highlight of the competition was undoubtedly the Corsa Traction Masters’ prowess, showcasing their remarkable showmanship of skills with their bikes. By demonstrating the capabilities of Corsa Motorcycle Tires, the Corsa Traction Masters underscored the importance of having reliable and trusted equipment for riders to maximize their potential.

In support of this endeavor, Febpublika 2024 was also graced by Jabbre Motocom, Omega, Respol, Aeropak, and Blaupunkt, further reinforcing the commitment to enhancing riding skills and safety within the community.

Corsa Motorcycle Tires Philippines is committed to supporting the riding community and fostering a culture of excellence and road safety. Through initiatives like the Motostunt Competition at Malolos Febpublika 2024, Corsa aims to inspire riders to continually improve their skills while emphasizing the importance of responsible riding practices.

For more information about Corsa Motorcycle Tires Philippines and their products, please visit and follow them on their FB Page https://web. facebook.com/CORSATIRESPH.

B6 Monday, March 4, 2024 www.businessmirror.com.ph
TANDUAY BAR
NEW PAL MABUHAY LOUNGE OFFERS A TASTE OF
ENJOY the new Tanduay Bar at the newly inaugurated Philippine Airlines (PAL) Mabuhay Lounge of the Ninoy Aquino International Airport (NAIA) Terminal 1 in Pasay City.
AT
HE National Grid Corporation of the Philippines (NGCP) has been tapped by the Department of Information and Communi
cations Technology (DICT) to help accelerate its National Fiber Backbone (NFB) Project, which the administration of President Ferdinand Marcos Jr. aims to complete in 2026.
-
NGCP, represented
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Keep your team happy: Know what they want

THE best communication and marketing plans cannot achieve their desired outcomes without a thorough knowledge of target audiences. It is important to look at various facets, beyond just demographics, for us to be able to give our stakeholders what they need and want—which can then, hopefully, alter their behavior or shift their perception in our favor.

This is why it is imperative for public relations and marketing professionals—and customer experience executives like myself—to look at various forms of consumer studies so we can craft the communication and engagement plans that can give us the best possible outcomes.

Just recently, healthcare provider PhilCare released the results of its “The ABCs of Xs and Ys” study, which aimed to discover the work priorities and preferences, financial state and practices, and values and mindsets of Millennials or Gen Yers (27-42 years old) and Gen Xers (43-58 years old) in the Philippines. The online survey, which covered all 17 regions in the country, ran from October to November 2023 and had 400 respondents. Each respondent had to answer 40 questions divided into eight sections.

One of the findings that I believe would have the most impact on the way we engage with our workmates is the desire of both age groups to be entrepreneurs. The majority of respondents, or 53 percent, said they would rather set up their own businesses than be employees.

“The result suggests a growing desire for autonomy and ownership, a desire to create something that they will be proud of in years to come. That’s why I believe employers who want to attract top Gen X and Y talents should capitalize on their entrepreneurial spirit by finding ways to keep them engaged, and how to give them a sense of ownership and purpose that will help drive performance,”

PhilCare Wellness Index Chairman Dr. Enrique Ona said in a statement.

Bosses can no longer expect their employees to be engaged just

Ikea Ph I l IPPI nes strengthens comm I tment to qual I ty but affordable PI e ces w I th Pr I c e reduct I o n MANILA, PHILIPPINES— Swedish home furnishing brand IKEA announces even

lower prices on 430 of its most loved products starting March 1.

Committed to offering quality home furnishings at affordable prices, IKEA is lowering prices for up to 50 percent on products ranging from sofas, shelves, tables, drawers, storage boxes, and other home furnishing accessories.

“At IKEA our goal is to offer well-designed, functional, durable, affordable and sustain -

because they are being paid to do their jobs. They are no longer as beholden to their jobs as they used to be, as they have now been exposed to options beyond the four walls of the office.

This is very likely an offshoot of the Covid-19 pandemic. Thousands of workers lost their jobs then, forcing them to find ways to make a living elsewhere, outside of being an employee. The mass layoffs and business closures that happened starting 2020 proved that even the most seemingly stable jobs can be lost in the blink of an eye.

To prevent good talent from leaving, make them feel that they are your partners and not just employees—or worse, means to an end.

Second on the list of work preferences of the Gen X and Gen Y workforce was work flexibility. According to 38 percent of all respondents, they preferred flexible work arrangements vs. fixed working hours.

“The shift in mindset of Gen X and Y signals a departure from the traditional 9-to-5 structure, with both generations seeking greater control over their schedules. This demand for flexibility underscores the importance of prioritizing health, well-being, and work-life balance. Any business or organization that wants to win the war for talent should make creating

able home furnishing solutions for people with big dreams and thin wallets,” said Leontina Bucur, Country Selling Manager of IKEA Philippines.

“We know Filipinos are feeling the pinch right now, and there’s no other better time to offer even lower prices at the same great quality than today to help Filipino people create a better everyday life at home,” she continued.

The price reduction covers

a flexible work arrangement top of mind,” PhilCare Wellness Index lead researcher Dr. Fernando Paragas said.

Another thing worth noting here is that remote work was no longer a young people thing, he added. Even Filipinos in their 50s—traditionally more inclined to survive and thrive in a face-toface work environment, viewed “the opportunity to work remotely as a strong motivating factor to consider a job.”

Again, this is very likely the result of the remote work arrangement that the Covid-19 pandemic forced most of the world to resort to during the early stages of the outbreak. Working outside the office was almost unheard-of in the Philippines, even among many multinational firms with offices here. Forced by circumstances, however, there was no choice but to let employees who can do their work remotely do just that: work outside the office.

Workplaces that can strike a balance between onsite and offsite work arrangements can reap the benefit of a more engaged and satisfied workforce, if the results of this study will be considered.

In terms of what Gen X and Gen Y employees would like to get from their employers, health benefits, job satisfaction, monetary benefits, and ease of travel are their top four. For millennials, health

a range of home solutions, including those for better sleep like the VADSÖ spring mattress now priced at P5,990 down from P6,990 and the UTÅKER stackable bed now at P9,990 reduced from P10,990. For those looking to refresh their living room, the SÖDERHAMN section sofa is now only P27,990 from its former price of P31,990. Other notable reductions include the

benefits and job satisfaction were their No. 1 and No. 2 priorities. These same elements were the top two priorities for Gen Xers as well, but in reverse order. Coming in at No. 3 No. 4 for millennials were monetary benefits and ease of travel. The same was true for Gen Xers, but again in reverse order.

As with their work priorities, both age groups had the same top three: get to protect my privacy, act responsibly for the environment, and am mentally healthy. Both the Gen X and Gen Y respondents stated protecting their privacy as the value that was most important to them.

Millennials placed more emphasis on environmental responsibility over mental health, while Gen Xers prioritized their mental health over environmental responsibility.

Among 12 values given to the respondents for ranking, both millennials and Gen Xers named “actively seek information about Philippine politics” as their least priority. They also placed low value on taking action about social issues and supporting the LGBTQIA+ community.

In terms of support systems, both age groups placed the most importance on keeping their family intact and ensuring that they are responsible for themselves and not a burden on anyone else. Millennials prioritized engaging in

JUSTINA chair pad for P250, down from P400, and the MOPSIG cutlery set for P150, down from P250, ideal for upgrading your dining setup. For a more productive work from home setup, the LINNMON / ADILS table is now priced at P 1,490, down from P1,990, and the HUVUDSPELARE gaming chair is available for P2,990, down from PHP 4,490. Lastly, the JONAXEL shelf unit now retails for

social events over being in a satisfying relationship. Gen Xers, on the other hand, deemed a satisfying relationship more important than being socially engaged.

This is but one study that reflects what’s important for millennial and Gen X employees, both in the workplace and in their personal lives. There are many more out there that may delve into other aspects of their lives. While you do not need to look through all of those to be able to engage them well and keep them happy enough to stay in your organization, at least consider finding out what they need and want. They are human beings that contribute to the success of your businesses, after all.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world.

Abigail L. Ho-Torres is AVP and Head of Customer Experience of Maynilad Water Services, Inc. She spent more than a decade as a business journalist before making the leap to the corporate world.

We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail.com.

P2,750, down from P3,500, and SAMLA boxes are available for P250 for 22L and P100 for 5L, down from former prices of P400 and P150 respectively, perfect for decluttering and organizing your home.

Visit IKEA Pasay City or IKEA.ph starting March 1 to bring home your favorite IKEA products at even lower prices. For more information, visit IKEA Philippines official Facebook page.

BusinessMirror Marketing www.businessmirror.com.ph Monday, March 4, 2024 B7
TIRACHARD WWW.FREEPIK.COM

Lebron James: 40,000-pt man

LOS ANGELES—LeBron James reached 40,000 points Saturday night, still going strong in his 21st National Basketball Association (NBA) season as he tries to put the career scoring record out of reach.

James drove past Michael Porter Jr. and hit a layup with 10:39 left in the second quarter of the Los Angeles Lakers’ game against the Denver Nuggets for the historic basket.

James received a standing ovation at the next timeout, while coach Darvin Ham gave him a congratulatory pat on the chest. There was an in-arena video presentation, which was preceded and followed by James raising the ball over his head.

James shot an airball on his first attempt of the night but responded by getting out in transition for a layup for his first points and prompting the Nuggets to use their first timeout. He then made a corner 3-pointer before subbing out with 3:19 left in the first quarter.

James checked back in to start the second quarter, attacking the basket 14 seconds into the period to set up the milestone score.

James passed Kareem AbdulJabbar’s mark of 38,387 points to become the league’s leading scorer on February 7, 2023, against the Oklahoma City Thunder. He reached 39,000 points on November 21 in an

In-Season Tournament game against the Utah Jazz.

H am was a young fan when AbdulJabbar was finishing out his career and assumed the record would never be challenged, let alone surpassed in the way James has.

But here we are,” Ham said before the game. “It’s a testament to Bron, just the time and resources he spends on himself, making sure not only he is healthy but he’s healthy at a high level.” James, 39, has also played the second-most regular season and most playoff minutes in league history. He is the only NBA player with at least 10,000 points, 10,000 rebounds and 10,000 assists. Nuggets coach Michael Malone spent five seasons with James as an assistant coach for the Cleveland Cavaliers from 2005-10 and remains in awe of how he is able to still play at such a high level.

“ I don’t get caught up in the number per se, but you just have to marvel at the continued greatness,” Malone said. Just to do what he’s doing at this stage of his career, and it doesn’t appear like he’s slowing down at all, which is even scarier. Really, when you take a step back, you just have to marvel at the longevity. But he’s just not playing at this. He is playing effectively.” AP

Biado world 10-ball champion!

CARLO BIADO won the Predator World Pool Association (WPA) men’s 10-ball championship in Las Vegas on Sunday to add to his collection of world titles.

and 4-1, to bag the title. He started the tournament with a 2-0 victoriesin over Justin Sajich of Australia, Shane Van Boening of US and Lin Wu Ku of Taiwan in the eliminations.

Southwoods, a dramatic showdown looms at Pueblo de Oro on Monday.

Eastridge hangs on tough J

job. Let’s hope for the best.” Del Monte had a disappointing result in its home course, shooting 98 points to slip further in third place with 309, 14 points behind Eastridge.

R aul Minoza and Julius Bautista carded 35 and 34, respectively but Romeo Jaraula could only come up with 29 points.

South Pacific Davao was a far fourth with 264 with Nino Villacencio scoring 36 points. W ith only five points separating

added 33.

Defending champion Manila Southwoods brought in the big guns in the third round in the hope of seizing the momentum. It nearly did.

Ryan Monsalve fired 39 while Aidric Chan and Lanz Uy chipped in 38 apiece as Southwoods found no need for Masaichi Otake’s 36 points.

The 115 was the best score by any team this week, auguring well for Manila Southwoods’ bid for a ninth championship.

We played very well today, my last man scored even par and did not count,” said Southwoods non-playing captain Thirdy Escano. “Another one like today should be able us to do the

Tolentino, Hoffman shown door

JOHN CABANG TOLENTINO and Lauren Hoffman exited early from the World Indoor Athletics Championships on Sunday leaving world No. 2 Ernest John “EJ” Obiena to carry the fight at the Emirates Arena in Glasgow.

Tolentino, bronze medalist at the recent Asian indoor in Tehran, advanced as a fifth-placer in his heat in the men’s 60-meter hurldes with a time of 7.68 seconds but could not get past

the formidanle 24-man semifinals.

A merican Grant Holloway ran 7.29 seconds to win the gold medal, followed by Italian Lorenzo Ndele Simonelli (7.43) and Frenchman Just Kwaou-Mathey (7.47).

Hoffman, on the other hand, ranked 21st among 24 runners in her head in the women’s 400 meters.

Paris Olympics-bound Obiena competes on Monday morning in men’s pole vault. Josef Ramos

Journey is everything

IN the last 18 years working in media, I have pitched a few books or even documentaries to several teams—professional and collegiate.

Some teams expressed apprehension not because it’s an inside look, but more because “what if they do not win.”

I found the answer utterly ridiculous.

For one, they know all too well that they cannot win everything. Second, they bring up that “it’s a journey” or “it’s a process” when it suits them.

Th at, in my opinion, is why there isn’t much in terms of Philippine sports literature. Many previous sports books were merely culling columns from newspapers and magazines then compiling them into a book.

I tried changing that by writing several sports books—The 18th Banner and Five (both about the Ateneo Blue Eagles), and A NU Champion and Rise (about National University’s University Athletic Association of the Philippines men’s basketball title in

E astridge has Ronel Taga-an, Jeffren Lumbo, Chris John Remata, and Gary Sales while Southwoods boasts Shinichi Suzuki, Zach Castro, Miko Granada, and Otake.

“Final round will be exciting,” said Asuncion. Super round from our player Jhondie Quibol. We battled all day. One more day. Proud of team effort. A lso heading to a climactic conclusion is the close fight in the Founders division.

Cebu Country Club (CCC) stayed on top with 290 points but close on its heels was Valley Golf with 286. Running third with 282 was Pueblo de Oro which made the biggest move with 103 points.

Julius Pierre Neri led CCC with 33 with Mark Anthony Dy and Peter Tyler Po adding 32 and 31, respectively.

Valley leaned on the 35 of Tom Marcelo, 32 of Marvin Mendoza, and 30 of Meynard Ko.

P ueblo, on the other hand, drew 37 points from Mark Benedict Javier and a pair of 33s from Seve Gonzales and Gerard Arriola.

A lso with an outside chance to win are Del Monte Team 2 with 279 and Forest Hills with 274.

Th e 75th staging of the PAL Interclub is supported by diamond sponsors Mastercard and Asian Journal. Platinum sponsors include Airbus, Primax Broadcasting Network and Araw Hospitality while gold sponsors are Tanduay and Asia Brewery.

Joining the event as silver sponsors are ABS-CBN Global, Radio Mindanao Network and Philippine National Bank. Visa is a minor sponsor while Must Glow is joining as a donor.

Biado, 40, won the US Open in 2021 and was world 9-ball champion in 2017, and in the final against Japan’s Naoyuki Oi, he escaped with a 3-1 victory at the Rio All-Suites Hotel and Casino to run away with the title with at $75,000 cash prize. “ It’s overwhelming and I’m very happy that I won this match,” Biado said during the post-match interview. “I finally got the world 10-ball championship.”

When our national anthem was being played, it made me cry, tears of joy,” he said. “I finally won a championship.”

A merican Fedor Gorst and Estonian Dennis Grabe settled for the bronze medals.

Biado, the only Filipino in the tournament, grabbed the final opener with Oi, 4-1, before the Japanese took the second game, 4-3. But he won two straight racks, 4-2

UAAP suspends UE’s Yee on ‘ethical breach, but....

HE University Athletic Association of the Philippines (UAAP) announced on Sunday the suspension for the rest of Season 86 of University of the East (UE) women’s volleyball head coach Jerry Yee. Yee admitted he couldn’t contest the suspension, but left a trail on what triggered the sanction and who was behind it.

“ For the record, the decision to part ways with Adamson [University] was a mutual one,” Yee told BusinessMirror in a phone interview also on Sunday. “We agreed the partnership had run its course, and I felt like the time was right for me to take a new step in my career and face a new challenge.”

Yee got his release from Adamson University on June 7 last year because of a conflict with a sponsor and on June 21, he was signed by UE.

T he UAAP Board’s statement released to the public on Sunday didn’t mention the specifics behind his suspension with the organization saying “the decision follows a complaint raised by a member school against Coach Yee on account of conduct violative of the purposes of the UAAP—a

Season 77 and the Cheerdance team’s “three-peat”).

Do they not realize that even during campaigns that do not end with a championship, the overall story can be just as or even more compelling?

H.G. Bissinger’s Friday Night Lights tells of the 1988 Permian High School Panthers’ run to the Texas State Championship that falls short. The Netflix Series Last Chance U has featured American Football and basketball squads. Not many end with a title.

A nd there’s Sunderland ‘Til I Die.

platform for Member Universities to foster camaraderie and fair play.”

The statement added: “After a thorough deliberation by the UAAP Board of Managing Directors [BMD], a recommendation was elevated to the Board of Trustees [BOT].

On February 29, 2024, the BOT concurred with the BMD findings that Coach Yee had engaged in acts inconsistent with the league’s objectives.”

It furthered: “The UAAP, as an organization of educational institutions,  prioritizes maintaining a close-knit relationship among its eight member schools through healthy competition and demands the highest ethical and professional standards from those expected to mold the student-athletes.”

Yee is one of only three Filipinos with a Level 3—the highest—coaching license from the International Volleyball Federation (FIVB) and chairs the Coaching Commission of the Philippine National Volleyball Federation (PNVF).

A lso across his name are two recent National Collegiate Athletic Association women’s championships with the College of Saint Benilde. So disappointed. I’m powerless to do anything. I’m sad, it’s

embarrassing, and I don’t like to be in this situation, but what can I do?” Yee further told BusinessMirror

“I cannot clarify their decision because nothing has been spoken of and written of [to] what they’re saying,” he said. “I maintain that that there was no ethical breach in my decisions.”

A s a football fan, my loyalties—since 1979 reside with Liverpool Football Club. But as a football fan, I try to watch as many matches as I can so I have informed decisions and thoughts about teams and the game in general.

I h ave never been a fan of Sunderland but the first two seasons (the first details that year following relegation from the Premier League in 2017-18) for the sheer drama of an ongoing saga. I came away feeling empathetic more so seeing them continuously relegated and laying off employees because of economic hardship. The stories introduced us to the lives of team executives, coaches, administrative staff, and even supporters and how the team’s sub-par performance affected not just their lives but also that of the community.

A fter two seasons (the second featured 2018-19 campaign), there was no more third season.  I surmised, it got tiresome because of all the misery. Following the Black Cats’ (as the Sunderland squad is n icknamed) dramatic 2021-22 season that saw them promoted from the League 1 to the Championship, a third season was hastily cobbled together.  I surmise that this was put together during their late run

Biado conquered the Taiwanese Ko-Ping Chun, 3-2, in the quarterfinals before beating American Gorst, 3-1, in the semifinals. Josef Ramos

CARLO BIADO makes the country proud anew.

He added: “I know the deeper reason, but they didn’t discuss it… which was the first six of the entire school [Adamson University] went with me Farm Fresh in the PVL [Premier Volleyball League].”

“ I have nothing to do with that… it’s their decision though,” he said.

Ironically on Sunday, UE, with assistant coach Dr. Obet Vital subbing for Yee, and Adamson University squared off at the SM Mall of Asia Arena with the Lady Falcons winning a four-setter, 25-19, 25-19, 26-28, 29-27. A damson University improved to 2-2 won-lost while UE dropped to 1-3 in the eliminations.

PNVF president Ramon “Tats” Suzara expressed his frustration over the UAAP’s suspension on Yee. He’s one of the few coaches who know volleyball and he’s a highlevel FIVB coach,” Suzara said. “He regularly attends PNVF coaching seminars here and internationally and he develops a lot of players in the grassroots level throughout the years.” He doesn’t deserve this kind of treatment,” Suzara added.

U E officials said they will be appeal for the lifting of the suspension.

The other Filipino Level 3 FIVB coaches are Francis Vicente, a former UE coach who’s now plying his trade in the Cook Islands, and De La Salle assistant coach Benson Bocboc.

that saw them in contention for promotion which is why there are only three episodes in total and more of than not, missing the drama of the previous seasons.

At times, they featured certain players or people, but as it was hastily put together, it at times seemed disjointed or even lacking. A nd yet, in spite of my small quibbles, it was satisfying. A fter two painful seasons, there is a happy ending for the Black Cats and their supporters.

O f course, what happened afterwards (and not seen in the documentary) is a mixed bag of results.

That first season back, they finished in sixth place. Unfortunately, in this current 2023-24 season, they are 10th in the 24-team The Championship and have had five managers since Alex Neill guided them to The Championship. Ne vertheless, hope springs eternal and they are far from being relegated. At least for now.

I f anything, sports has demonstrated that even the most compelling stories (check out Point Break on Netflix too) need not be title runs.

It is always the journey and what you take away from it.

Now, if only we will see something similar locally.

But I am not holding my breath for that.

BusinessMirror B8 Monday, March 4, 2024 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
Sports
HONDIE QUIBOL softened Manila Southwoods’s day-long charge with a blistering seven-under-par 65 at the Del Monte Golf Club on Sunday to help Eastridge to a five-point lead into the final round of the 75th Philippine Airlines Men’s Interclub golf team championships. Quibol, one of six Davao-born players in the squad, shot a tournament and personal-best 43 points as Eastridge held on to keep the driver’s seat with 323 points in the Manolo Fortich layout in Bukidnon. My putting and driving worked prettty well,” said the 25-year-old Quibol who gunned down an eagle and six birdies against one bogey. Q uibol left his hometown last year to join the Eastridge golf program under general manager Gimo Asuncion and said he plans to turn pro next year. A lexander Bisera backed up Quibol with 36 points while Edison Tabalin
JHONDIE QUIBOL churns in the numbers for Eastridge. ROY DOMINGO LEBRON JAMES at 39 is still going strong in his 21st National Basketball Association season. AP JERRY YEE reveals where the suspension is coming from.
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