BusinessMirror March 07, 2023

DOTr, MMDA: Day 1 of transport strike fizzles out

By Lorenz S. Marasigan @lorenzmarasigan & Claudeth Mocon-Ciriaco @claudethmc3

THE first day of the weeklong transport strike had little impact on the economy, according to the chief of the Department of Transportation (DOTr), noting that only a handful of drivers and operators joined the protest.

Transportation Secretary Jaime Bautista said “only a few” were part of the first day of the jeepney strike, which

was called to highlight objections to the PUV modernization program.

“ Based on what we see, the impact is very minimal. Reports from Regions 9, 10, 11, and 12, showed that no one joined the strike. Here in Metro Manila, only a few joined. In Bulacan, Cavite, Laguna, the operations were normal,” he said.

M anibela and Piston led a supposedly weeklong strike in protest against the government’s Public Utility Vehicle Modernization Program (PUVMP).

W hen asked if the DOTr is keen on

having the franchises of those who joined the strike revoked, Bautista said he is not totally in favor of that.

I don’t think we will, but we will review the policy and there is due process. There has to be a hearing and they must explain who joined and explain why they didn’t ply the routes. We’ll see to it that there is ample discussion and dialogue,” he said.

MMDA report

A SIMILAR assessment was made by the Metropolitan Manila Development Authority (MMDA), which said the

start of the weeklong nationwide strike on Monday did not cripple jeepney routes in the metropolis.

MMDA acting Chairman Romando Artes described the traffic situation in the metropolis as “normal.”

It appears that their plans did not materialize fully,” Artes said, partly in Filipino, in a press conference also attended by representatives from the Department of Transportation, Land Transportation Franchising and Regulatory Board and the National Capital Region Police Office.

SOLON PITCHES DRIVE VS. BULK CASH SMUGGLING

By Jovee Marie N. dela Cruz @joveemarie

70% OF CHILDREN ALREADY WORKING IN 11 REGIONS–PSA

By Cai U. Ordinario @caiordinario

MAJORITY or over 70 percent of children in 11 regions nationwide were already working in 2021, according to data released by the Philippine Statistics Authority (PSA).

A s of February 24, 2023,  Albay

Rep. Joey Sarte Salceda, principal author of the proposal, said the FATF has kept the Philippines in the gray list, or “Jurisdictions under Increased Monitoring.”

Other than Myanmar, which is in the ‘black list,’ we are the only country in ASEAN in the gray list,” said Salceda during the hearing of his committee on his House Bill 374 and Rep. Alex Colada’s House Bill 3254.

S alceda’s proposal defines bulk cash smuggling as physically transporting or transferring foreign currency and/or foreign currency-denominated bearer monetary instruments in an amount that exceeds  $200,000 or its equivalent into and out of the Philippines.

U nder the proposal, bulk cash

smuggling also includes concealment and transport of or attempt to transport foreign currency and/or foreign currency-denominated bearer monetary instruments in excess of $10,000 or its equivalent in other foreign currency into and out of the Philippines, with the intent to evade the currency declaration requirement or to make a false declaration.

“ Bulk cash smuggling is suspected to be used for money laundering or terrorist financing. In the Philippines, bulk cash smuggling often involves inbound transport of large amounts of foreign currency, often undetected, or if detected, often made without apprehension or consequence,” he added.

PSA data also showed six of these regions have poverty rates of above the national average as of 2021. Four of these regions with high poverty rates and children working also saw an increase in poverty rates in 2021.

I n 2021, the total number of working children considered engaged in child labor was estimated at 935,000. This was higher than the reported working children engaged in child labor in 2020 at 597,000.

“Child labor includes: hazardous work [hazardous child labor] which encompasses undesirable activities or work done in a hazardous environment [as identified in DOLE Order No. 04 (1999) on ‘Hazardous work and activities to persons below 18 years of age’],” PSA explained.

“[This also includes] work done for long hours of more than 40 hours and/or night time or the entire day by chil -

dren in ages 15 to 17 years and those classified as other child labor, that is, work by children below 15 years of age in excess of the allowable work hours or less than 20 hours,” it added.

Based on the PSA, children include Filipinos aged 5 years old to 17 years old. The Cordillera Administrative Region (CAR) had the highest proportion of children working at 81.7 percent in 2021.

T he other regions with majority of children worked included Region I (Ilocos Region); Region II (Cagayan Valley); Region III (Central Luzon); Mimaropa Region; Region VII (Central Visayas); Region IX (Zamboanga Peninsula); Region X (Northern Mindanao); Region XI (Davao Region); Region XII  (Soccsksargen); and Region XIII (Caraga).

T he six regions that had a high proportion of children working and had higher poverty rates than the national average were Mimaropa; Central Visayas; Zamboanga Peninsula; Northern Mindanao; Soccsksargen; and Caraga.

T he PSA data showed 75.1 percent of children in Mimaropa worked and the region had a poverty incidence rate of 20.8 percent.

By Ma. Stella F. Arnaldo @akosistellaBM

region, which will again deprive stakeholders of their livelihood. Formerly the Southern Tagalog region, Mimaropa is composed of Mindoro Ori -

ental and Occidental, Marinduque, Romblon, and Palawan. In a news statement, Tourism Secretary Christina Garcia Frasco said,

“The Department of Tourism [DOT] notes with seriousness the grave impact of the oil spill on the tourism industry, including disruptions in the livelihood of the affected communities, tourism-dependent businesses, and recreational activities.”

AS the Philippines was once again placed in the gray list by the Financial Action Task Force (FATF), the House Committee on Ways and Means on Monday created a technical working group (TWG) to further study the proposal penalizing the smuggling of foreign currency and other monetary instruments in bulk into or out of the Philippines.

COMMUTERS board a truck provided by the local government of Parañaque to help ferry stranded passengers as the planned weeklong transport strike begins on Monday, March 6, 2023, in protest against the government’s PUV Modernization Program. (Right) Militant groups from Gabriela Youth, Piston and Migrante stage a protest rally at Mendiola in Manila opposing the phaseout of the country’s iconic jeepneys. NONIE REYES/ROY DOMINGO

RUSSIAN SHELLING HITS UKRAINIAN TOWN AS BAKHMUT BATTLE RAGES

Oil spill can set back tourism recovery of Mimaropa–DOT

Continued from A1

S he added, “Scuba diving, beach, and cruise tourism depend on the region’s coastal resources, and are also its major tourism products. If unmitigated, the oil spill can have adverse impacts on three of the world-class dive destinations in the Philippines, specifically the Verde Island passage and Apo Reef in Mindoro, and Coron’s World War II wrecks, and the Philippine Dugong.”

She noted that 34 cruise ships are scheduled to drop anchor in Mindoro, Romblon, Marinduque, and Palawan this year. Close to 40,000 cruise passengers are expected in the country this year, generating a spend of $100 per passenger.  (See, “Cruise tourists sent to bring PHL P216 million,” in the BusinessMirror , February 16, 2023.)

T he DOT is also closely coordinating with  the Tubbataha Management Office, which is monitoring the Tubbataha Reef, which is among the most popular dive sites in the country. So far, the oil slick has not yet reached the area,  and  the municipality of Cagayancillo in Palawan.

Continued from A1

Artes said contingency measures were put in place to counter the effects of the transport group strike.

“The President, through the Office of the Executive Secretary, organized this Inter-Agency Monitoring Team in response to the transport strike. Because of the unified efforts of concerned agencies, we were able

P rior to the pandemic, some 526,000 foreign and domestic tourists arrived in Mimaropa, the largest numbers going to Palawan (437,148), mainly to El Nido and Coron, and Oriental Mindoro (49,112), specifically to Puerto Galera.

Affected tourist areas

THE spill occurred after the oil tanker MT Princess Empress sank off the municipality of Naujan in Oriental Mindoro on February 28. The tanker was carrying some 800,000 liters of oil. Environmentalists and marine scientists have warned that the sludge could affect close to 36,000 hectares of verdant coral reefs in Oriental Mindoro and Antique.

T he DOT has confirmed several tourist areas and beach resorts in the municipality of Pola have already been affected by the oil spill.

DOT-Mimaropa reported that  marine protected areas have been affected such as King Fisher Reserve, St. John the Baptist Maroine Protected, Song of the Sea Fish Sanctuary, Stella Mariz Fish Sanctuary, Bacawan Fish Sanctuary, St. Peter the Rock Fish Sanctuary, and San

to prepare and address the needs of the riding public,” said Artes. Ahead of the transport strike, assets were prepositioned, contingency plans were in place, and routes that would be affected by the strike were identified,” said Artes. W hile a few cases of harassment of drivers who did not join the protest action were reported, NCRPO Col. Roman Arugay described the strike as peaceful, with no arrests made.

Isidro Labrador Fish Sanctuary.

A lso impacted were beach resorts such as Bihiya Beach, 3 Cottage, Long Beach K. I, Agauda Beach Resort, Olorosao Beach Resort, Munting Buhangin Tagumpay Beach Resort, and Buhay na Tubig White Beach Resort. “Coastal clean-up is being done in the affected areas as an immediate solution to prevent further damage,” said Frasco, as she advised tourists to avoid visiting these places in the meantime. She failed to mention if assistance was extended to any tourists already holidaying in those resorts.

She stressed though that tourist attractions in Naujan itself, as well as the municipalities of Victoria and Pinamalayan, have not been affected by the oil spill so far. Another major tourist attraction in the province, Naujan Lake, is also seen safe as it has no outlet to the ocean.

Boracay ready with booms

THE DOT chief ordered the regional offices in Mimaropa and Western Visayas to closely monitor developments and coordinate with the Department of Environment and Natural Resources and

10-point program

OFFICIALLY introduced in 2017, the PUVMP is a 10-point program that ultimately involves the phaseout of the old PUVs to make way for more modern and environmentally-friendly vehicles.

A crucial step in the plan is the consolidation of individual franchises into transport cooperatives or corporations, which will provide groups access to business financing to bankroll the acquisition of

Solon...

its Environmental Management Bureau,  the Philippine Coast Guard (PCG), and local government units (LGUs).

Frasco noted the oil slick has reached the municipality of Caluya in Antique, particularly along the shores of Sitio Sabang, Barangay Tinogbo, Liwagao Island, Barangay Sibolo, and Sitio Tambak in Barangay Semirara. “Although none of the tourist attractions have been affected,” she said, “the LGUs together with the Coast Guard have been cleaning up the area, with support from private sector, who provided personal protective equipment.”

Meanwhile, Boracay Island in Aklan is ready for any untoward effects from the oil spill. The PCG and the Malay Municipal Disaster Risk Reduction Management Office is monitoring the coastline of Boracay Island, “and has prepositioned oil slick booms in strategic areas around the island in anticipation of the oil spill,” she added.

D OT-Western Visayas is also actively coordinating with the LGU of Malay on helping tourists in Boracay if the spill reaches the island’s coast, she said.

modern vehicles.

Transport groups that backed the strike said that while they recognize the virtue of modernization, they are against consolidation and the need to shoulder payments for new units, given what they deem oppressive policies and financing schemes.

L atest data from the Land Transportation Franchising and Regulatory Board (LTFRB) showed that about 62.4 percent or about 98,000 jeepneyes have consolidated nationwide, while 71.7 percent or about 14,000 of the roughly 19,000 UV Express have consolidated.

T his means that about 65,000 drivers are in danger of losing their livelihoods if they fail to consolidate by December 31. The program, to date, has a 4.5-percent success rate with only 6,814 modern jeepneys deployed versus the universe of 158,000 PUVs with franchises.

Phased implementation

ON Monday, Move As One Coalition said it sympathizes with the drivers as well as the commuters affected by the strike.

It proposed that the modernization program be implemented in phases, starting with a number of routes.  Because of the limited budget and staff of the DOTr and LTFRB, there has to be prioritization in route rationalization. We cannot repeat the decade-long mistake of implementing this concurrently in all places,” the coalition said.

T he government should also provide a step-by-step support and remove roadblocks to enable transport workers to comply to the program, it added.

“

The government must also allot funds and staff for the program. The equity support should not go below P500,000 or better yet 50 percent of the cost of a new unit,” Move As One said.

The government should also provide social support and pension support,” it said.

M ove As One estimates that the government has to allot at least P16.4 billion every year for five years to allow jeepneys to comply with the modernization program.

The DOTr and LTFRB has to make it a policy to increase the supply of transportation so that commuters are supported. In Manila alone, we estimate that at least 2 million passengers are being served by public transport everyday,” Move as One said.

L astly, Move As One said, “the government should involve commuters and transport workers in designing and implementing the program.”  “ Form a multisectoral governance committee that will guide the DOTr at LTFRB in implementing the program—an initiative that should have been done in 2022,” Move As One said.

Continued from A1

W ithout government action, Salceda said unmitigated bulk cash smuggling could erode the Philippines’s standing in the FATF, which monitors whether countries are compliant with internationallyaccepted practices against becoming hubs or conduit points for funds related to transnational crime and terrorism.  S alceda estimated that at least P100.2 billion, or around 0.55 percent of the country’s GDP every year, may be coming into the country in cold cash.

Bulk cash smuggling happens through our ports of entry, without being reported or monitored, on top of whatever is declared but not monitored, tracked, or apprehended properly,” he added.

OFWs collateral damage

ACCORDING to Salceda, the inability of Philippine banks to transact with foreign banks could endanger as much as 13.18 percent of the national GDP.

“OFWs will be unable to send remittances to the Philippines and investors will be unable to send investments to partners in the country,” he said.

Philippine banks will be obliged to increase costs on Filipino consumers to sustain operations given the losses due to inability to transact with foreign banks. This will have profound implications on our ability to boost domestic enterprises and create jobs,” he added.

S alceda proposed to designate bulk foreign currency smuggling as a predicate offense to money laundering as defined in Republic Act No. 9160, or the Anti-Money Laundering Act of 2001; and impose penalties for the commission of the bulk foreign currency smuggling offense or the conspiracy to commit such offense.

S alceda said the proposal will also empower the country’s law enforcement.

“ [But] the final question for law enforcement, according to Salceda, is whether or not the anti-Money Laundering Council, the Bureau of Customs and the Bangko Sentral ng Pilipinas have the capacity to define and apprehend bulk cash smuggling in a series of closely related events.”

T he bill requires a written declaration under oath for the physical cross-border transfer into and out of the Philippines of foreign currency and other foreign currency denominated bearer monetary instruments in excess of $10,000, or its equivalent in other foreign currencies.

T he measure also requires the registration of persons or entities engaged in the regular or periodic transfer of bulk currency that exceeds $10,000 at one time with the Bangko Sentral ng Pilipinas.

Continued from A1

The data also showed 79.1 percent of children in Central Visayas, which had a poverty rate of 27.6 percent, worked in 2021; Zamboanga Peninsula, 78.7 percent of children working and a poverty rate of 30.1 percent; Northern Mindanao, 73.7 percent of children working and a poverty influence of 26.1 percent; Soccsksargen, 71.9 percent of children working and 28.1 percent poverty rate; and Caraga, 72.2 percent of children working and poverty rate of 33.2 percent.

Meanwhile, the four regions with a high proportion of children working; have higher poverty rates than the national average; and saw an increase in poverty rates compared to 2018 were Mimaropa, Central Visayas, Northern Mindanao and Caraga.

M imaropa saw its poverty increase to 20.8 percent in 2021 from 15.1 percent in 2018 while Central Visayas saw its poverty rate increase to 27.6 percent in 2021 from 17.7 percent in 2018.

For Northern Mindanao, the poverty rate rose to 26.1 percent in 2021 from 23.1 percent in 2018, while

Transactions rejected FOR his part, Atty. Matthew David of AMLC admitted that the council has received unofficial reports that some money transactions of Filipinos in Europe have been rejected.  Some of their transactions, for example wire transactions going to the Philippines have been disapproved. Some of them have been requested to submit more requirements and also with higher fees,” he said.

David said the AMLC has supported this proposal as it “resolves the question of the jurisdiction of the law enforcement agency concern including the BOC and the AMLC and further allows the AMLC to immediately conduct investigation for money laundering or terrorism, financing or proliferation financing upon determination that there is a suspicious activity as to the foreign currency declaration and as to the condition of the bulk cash smuggling.”

David said the bill also addresses the requirements of the FATF regarding the recommendation 32 on cash couriers.

However, it must be noted that the bill addresses only two out of the three shortcomings indicated in the 2019 mutual evaluation report of the Philippines, particularly recommendation number 32,” he said.

R ecommendation 32 was developed with the objective of ensuring that terrorists and other criminals cannot finance their activities or launder the proceeds of their crimes through the physical cross-border transportation of currency and bearer negotiable instruments.

O n February 24, the FATF recommended that the Philippines continue its action plan on the following fronts:

■ demonstrating that effective risk-based supervision of Designated Non-Financial Businesses and Professions is occurring;

■ demonstrating that supervisors are using AML/CFT controls to mitigate risks associated with casino junkets;

■ enhancing and streamlining law enforcement agencies’ access to information and taking steps to ensure that information is accurate and up-to-date;

■ demonstrating an increase in the use of financial intelligence and an increase in ML investigations and prosecutions in line with risk;  demonstrating an increase in the identification, investigation and prosecution of TF cases; and  ■ enhancing the effectiveness of the targeted financial sanctions framework for both TF and Proliferation Financing (PF) by demonstrating that DNFBPs understand their obligation.

Meanwhile, the TWG is expected to consolidate Salceda’s House Bill 374 and Rep. Alex Colada’s House Bill 3254 both on bulk cash smuggling.

Caraga’s poverty rate increased to 33.2 percent in 2021 from 30.5 percent in 2018.

Across regions, Northern Mindanao had the highest share of the country’s child laborers at 14.8 percent, followed by Central Visayas at 10 percent. NCR had the lowest share at 1.2 percent, followed by CAR and BARMM at 2 percent,” PSA said. A cross regions, Northern Mindanao posted the highest proportion of working children of 12.5 percent in 2021. This was followed by Caraga Region at 11.1 percent and Region XII or Soccsksargen at 7.4 percent in 2021.

I n terms of share to total working children, Northern Mindanao posted the highest at 13.7 percent, followed by Calabarzon at 10.1 percent, and Central Visayas at 8.7 percent.

Meanwhile, three regions had less than 3 percent each: National Capital Region (NCR) at 1.6 percent, Cordillera Administrative Region (CAR) at 1.7 percent, and Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) at 2.1 percent.

The Nation

PNP vows swift resolution of Degamo slaying

By Rene Acosta @reneacostaBM & Jovee Marie N. Dela Cruz  @joveemarie

establish the circumstances surrounding the incident and the identification of key players.”

These significant developments in this case are classic textbook examples of swift and decisive action by the DILG [Department of the Interior and Local Government], PNP leadership, Regional Special Investigation Task Group of Police Regional Office 7 and the AFP [Armed Forces of the Philippines] that is moving us closer to finding the participants and mastermind to this multiple murder case,” he said.

T he Department of Justice said it has been studying the possible inclusion of two suspects in the witness protection program.

‘No sacred cows’

others two days ago are hot on the trail of the person who masterminded the assassination.

Investigators have important leads as to who is the mastermind of this crime. They are working round the clock at the moment for case buildup,” he said.

He assured the people of Negros Oriental that the brains behind crime would soon be arrested and would “rot in jail.”

“Soon, we will have the mastermind of the crime arrested. We will make everyone responsible for this crime pay. Our authorities will make sure they rot in jail,” he said.

T he House leader reiterated that there is now peace in Negros Oriental.

Degamo and eight others were killed on Saturday morning by at least 10 suspects who barged into the compound of the late governor’s house in the town of Pamplona, Negros Oriental and shot him. Scores of others were also wounded.

Several hours after the killing, units from the police and military arrested at least three suspects and killed another during the ongoing manhunt operations. The three arrested suspects are former soldiers who have been dropped from the service years ago.

During a news briefing on Monday, Azurin hinted that the suspects are cooperating by talking about the attack, the perpetrators and even the possible mastermind.

“As of now, we have not seen ’yung extrajudicial confession ng mga witnesses, but we believe little by little we’ll get to the mastermind,” the Philippine National Police (PNP) chief said.

A zurin said their continuing investigation into the murder has “uncovered promising leads from evidence and testimonies that will

FOLLOWING the killing Degamo, Speaker Ferdinand Martin G. Romualdez on Monday said there would be “no sacred cows” in the government’s fight against criminality.

“ Whether it’s a big person or someone with influence, we will chase you down and hold you accountable for your sins,” Romualdez vowed.

“Let me reiterate the warning of President Marcos to criminals: you can run but you can’t hide,” he said.

T he Speaker revealed that law enforcement agencies looking into the killing of Degamo and several

We have restored peace and order in Negros Oriental. The local government is fully functional and in control of the situation with the swearing-in of the new governor and vice governor,” he said.

He said PNP, AFP, the National Bureau of Investigation, and other concerned agencies “are tasked to provide all assistance necessary for the new officials to carry out their functions.”

For her part, Iloilo Rep. Jullienne Baronda said authorities must leave no stone unturned in making all the perpetrators face the full force of the

law for the crime that also claimed five other lives.

“ I strongly condemn the brazen slaying of Negros Oriental Gov. Roel Degamo, who is a good friend,” she said.

I extend my deepest sympathies to the People of Negros Oriental, whom Gov. Degamo served well, and Mayor Janice Degamo and their family,” she added.

On Sunday, the Interior and Local Government Secretary Benhur Abalos assured that Degamo’s death has not left a leadership vacuum in the province by swearing in Vice Gov. Carlo Jorge Joan Reyes as governor and 1st Board Member Manuel Sagarbarria as vice governor.

Degamo, 56, died from gunshot wounds that he sustained after he was attacked in his home in Barangay San Isidro, Pamplona town Saturday morning while tending to beneficiaries of the government’s 4Ps or Pantawid Pamilyang Pilipino Program.

Five other individuals were also killed in the attack that was carried out by men in full combat gear and pixelized uniforms.

Raps filed

COMPLAINTS for multiple murder and illegal possession of firearms, ammunition and explosives have been filed against the three arrest-

RBH 6 for Con-con gets final approval of House

T he envisioned Con-con would be a hybrid assembly with elected and appointed members, with the election and appointment of delegates to be held simultaneously with the October 30, 2023 barangay and Sangguniang Kabataan (SK) polls.

T he details of the election and appointment of Con-con delegates will be contained in an implementing bill to be passed by Congress.

Despite investment-friendlier laws, Camarines Sur Rep. Luis Ray Villafuerte on Monday said he sees no dramatic jump in foreign direct investment (FDI) inflows unless the Constitution’s restrictive economic provision on limited participation of overseas investors is lifted.

Deal breaker VILLAFUERTE said this 40-percent ownership cap on foreigners in the country’s inward-looking Constitution has long been the deal breaker for prospective investors.

“ This is the reason we have yet to see any dramatic jump in FDI inflows even when the Philippines has been accorded investmentgrade status by international credit raters for over a decade now and the Congress has already written a slew of new legislations upgrading our investment laws as a way to better attract foreign capital,” Villafuerte said.

Proof of this is that instead of any bump in incoming investments, Villafuerte said, the latest Bangko Sentral ng Pilipinas (BSP) figures actually point to an over 13-percent drop in FDI inflows  from $9.74 billion in the January to November 2021 period to $8.43 billion in the same period last year, when the Philippines emerged as one of the region’s overperformers despite the lingering pandemic.

A ccording to Moody’s Investors Service’s earlier projections, the Philippine economy was expected to have grown  by 6.4 percent in 2023, the fastest in the AsiaPacific region, as against the estimated 6.1 percent print of Vietnam,  5.1 percent of China, 4.7 percent of Indonesia, and 3.9 percent of Thailand.

House Constitutional Amendments Chairman Rodriguez said Congress cannot turn its back on the “truth and reality” that the

1987 Constitution needs to be reviewed for being the third most restrictive in the world and the most restrictive in ASEAN.

“Its inflexibility and restrictiveness hampers foreign direct investments [FDIs] to come in as much as they do in other countries. And the fact remains, as was pointed out by the representative of the Management Association of the Philippines, an association of 1,100 memberexecutives of Philippine listed local and multinational companies, that it is only Congress which can do this, in the exercise of its constituent function reposed upon by the Constitution under Article XVII, Sections 1 and 2. That is to either propose amendments by itself or call for a Constitutional Convention to do the same,” said Rodriguez.

While we are on the way to recovery, our ASEAN neighbors, notably Vietnam, are already way ahead of us in economic performance. Inflation and fiscal deficits are among the highest in the region, as well as the number of businesses closed. If we are to catch up, we need more FDIs to come in,” he added.

Unconstitutional

ALBAY Rep. Edcel Lagman, who voted “No” to RBH, said the House of Representatives conducts an unconstitutional route to Charter change in holding sessions singly in considering the Joint Resolution without meeting with the Senate in joint session.

L agman reiterated that the constituent power of the Congress is exercised in three different modes: acting as a Constituent Assembly directly proposing amendments to the Constitution; calling for a Constitutional Convention to amend or revise the Constitution; and submitting to the electorate the question of calling for a Constitutional Convention.

“ When the Congress exercises any of the three modes of its constituent power, it must meet in a joint session because:  The Congress consists of two chambers, the House of Representatives and the Senate,” he said.

Verily, when the Constitution provides for “the Congress,” it indubitably refers to the two Houses. When the Congress

exercises non-legislative functions, it invariably meets in joint session like when it:  declares the existence of a state of war and confirms the President’s nomination of the Vice President in the event of a vacancy in that office during the term of the Vice President; decides whether to revoke the President’s proclamation of martial law or suspension of the privilege of the writ of habeas corpus; canvasses the vote for President and Vice President and, in case of a tie, to break the tie; and decides a dispute between the President, who has once declared himself unable to discharge the duties of his office but later claims to be fit to resume, and a majority of his cabinet, holds otherwise,” added Lagman.

According to Lagman, Chacha is out of step now, saying the Congress and the President must exert all efforts and allocate the necessary resources to addressing the present economic woes of the country particularly on gripping poverty, escalating inflation, lack of food security, and the adverse effects of a possible recession.

The Con-con’s agenda is open-ended. No less than the chairman of the sponsoring committee repeatedly admitted that the Congress has no power to restrict or control the agenda of the constitutional convention. Once the Con-Con convenes, it will have an existence and an authority of its own,” he said.

C onsequently, he said even if the Joint Resolution enjoins the Con-con to limit its amendments to the economic provisions of the Constitution, this has no legal binding effect.  “ Verily, the Constitutional Convention can amend the political provisions of the Constitution, including extension of term limits or changing term limits, which could be the furtive agenda for calling for Cha-cha,” he said.

L agman said liberalization of the economic provisions is not the sole magnet to foreign direct investments (FDIs), citing Taiwan and South Korea which achieved newly industrialized country (NIC) status without much inflow of foreign investments.

“Charter change is not the panacea to all our woes.  Chacha is not a magic wand to solve all of our pressing socioeconomic ills,” he added.

ed suspects in the killing of Degamo and five civilians last Saturday. At a news briefing held at the Department of Justice (DOJ), Interior and Local Government Secretary Behur Abalos identified suspects as Joven Javier, a 42-year-old discharged Army Ranger; Benjie Rodriguez, 45; and Joric Labrador, 50.   The three were earlier apprehended by joint police and Army troopers during a hot pursuit operation in Bayawan City, Negros Oriental.      T hey were believed to be among a group of at least 10 heavily armed men who barged into the compound of Degamo’s residence in Barangay Isidro in Pamplona, Negros Oriental and fired at the governor and some civilians availing of financial assistance being given to poor families.

Meanwhile, DOJ spokesman Jose Dominic Clavano disclosed that two of  three persons charged for the crime are now being considered to be included under the DOJ’s Witness Protection Program (WPP).      The DOJ is currently evaluating two of the respondents if they can be admitted to the Witness Protection Program,” Clavano said.

However, Clavano also declined to identify who among the three suspects in custody have signified their intention to cooperate with the ongoing probe.

continued from a12

NATIONAL Police chief General Rodolfo Azurin Jr. expressed confidence on Monday that they could get all the suspects and identify the mastermind in the killing of Negros Oriental Roel Degamo, as witnesses and even those who have been earlier arrested are willing to divulge the details of the brazen crime.

Pili nut producers regain EU export market–Palace

By Samuel P. Medenilla @sam_medenilla

M alacañang said this after the EU issued on February 8, 2023 its new Implementing Regulation (EUR) 2023/267, which restored dried pili nuts on its list of novel foods, which can be sold in its market provided it passed the necessary food safety and labeling requirements.

T he EU first started to significantly import dried pili nuts for consumption in 1997 before it was temporarily halted in 2015.

T he Presidential Communications Office (PCO) said President Ferdinand R. Marcos Jr. lauded the release of the new EUR since it opened once again additional markets for the country’s pili nut industry.

“ The EU market opening will benefit local pili processors and exporters, including thousands of pili farmers as this opportunity enables them to gain more income from higher value commodities such as

Risk management in a world in crisis

comprehensive third-party risk management.

pili,” the PCO said in a statement issued on Monday.

Currently, the Bicol Region produces the bulk or 90 percent of the country’s pili nut yield.

Based on the 2021 data of the Philippine Statistics Authority, the Bicol Region has 1,796.38 hectares of pili production area, which produced 4,932.60 metric tons of the edible nut.

T he top export markets for Philippine pili include the US, United Kingdom, United Arab Emirates and Canada.

T he Department of Agriculture (DA), which is also headed by Marcos, is now engaged in the “upscaling” of the production and quality of high value commodities (HVC) such as pili.

T he country’s diversified HVC export is expected to allow the country’s economy to be more resilient from “adverse global shocks.”

By Henry J. Schumacher

INtimes of upheaval and uncertainty, people

and organizations need a vision, and a clear value orientation that the organization and its employees can use. They need a clear “sense of belonging” and “sense of direction” so that their actions have meaning and impact.

Having said this, it is no secret that corporations around the world today struggle to manage their risks. At the center of that struggle are third parties.

T hird parties challenge business operations like never before. They can disrupt supply chains stretched around the world; open the door to cybersecurity attacks within your organization; or cause costly compliance failures such as anti-corruption, sanctions, or antitrust violations.

T he good news: most organizations can leverage their prior experience with corporate compliance programs into stronger, more comprehensive third-party risk management programs. Management teams can then turn that better risk management capability into a strategic advantage for years to come.

The changing nature of risk

THE challenge with third-party risk has several causes:

First, businesses today use more third parties than ever before. Even small companies rely on dozens of third parties.

Second, businesses use third parties in more ways, and often in mission-critical ways. For example, a global manufacturing business might use contracted labor at its plants (supply chain risk), overseas agents to drive its international sales (compliance risk), and cloudbased IT services to run R&D, finance, and other functions (cybersecurity risk).

Third, businesses operate at a scale and manner that leaves their operations “tightly coupled,” where a failure in one part of the enterprise can disrupt many other parts. With so little room for error, it becomes more important for all parts of the enterprise to run smoothly at all times.

And fourth, regulators around the world are paying more attention to business conduct since governments and the public are more exposed to the consequences of poor conduct. An environmental disaster might ruin the water supply; a cybersecurity failure could leave millions without access to power or bank accounts. A privacy data breach can expose millions.

T he risks themselves—supply chain, cybersecurity, compliance, financial—aren’t new, but their severity and unpredictability are, for all the reasons mentioned above. In such a world, third-party due diligence is no longer enough for success. Rather, companies must use their due diligence capabilities as the foundation for more

T hat, in turn, allows senior management to make better decisions about achieving business objectives, without worrying that an errant third party might derail your plans.

New pillars of risk management and response

TO achieve strong third-party risk management, a business must be able to do four fundamental tasks: Identify risks facing the business.

Implement controls to keep those risks at suitable levels. Monitor the risks to determine when they rise to dangerous levels. Respond with appropriate steps when a risk does come to pass. W orking backwards from those four tasks, companies can reverse-engineer the capabilities they’ll need to get those tasks done.

T he first capability is risk assessment, so the organization can identify and understand all the third-party risks it faces. Most likely, you’ll need to assemble an in-house risk committee from across the enterprise, to discuss how the business uses and depends on third parties and what might happen if those relationships falter. For example, the risk committee might be led by a company’s chief risk officer or head of internal audit, with representatives from legal, compliance, procurement, IT security, sales, and other important business functions.

Second is an ability to implement policies, procedures, and other controls, to keep the risks you’ve identified at acceptable levels. This might entail policy management tools, to assure that management develops one set of policies that communicate uniform messages across the enterprise. Training, internal reporting hotlines, and due diligence procedures would all be important tools too.

T hird is an ability to monitor how third parties interact with your enterprise and behave overall. Monitoring is seldom easy. Risk managers will need to track data across multiple business functions and weave them into a cohesive larger picture that connects back to your risk assessment.

T he goals in building a thirdparty risk management program are always transparency, agility, and responsiveness. Management teams need a clear understanding of the risks their third-party relationships pose, plus an ability to respond quickly (and effectively) when those relationships somehow go awry.

Conclusion

THIRD-PARTY risk management will be essential for corporate success in years to come. The question is whether organizations will react to third-party risks in a piecemeal fashion as adverse events happen; or manage third-party risks in a more holistic way, with deft and efficient incident response.

A strong compliance program will always be the foundation for third-party risk management—but businesses will need more, too.

T hey’ll need technology that can help with scenario-planning, data analytics, and reporting.

S eizing that opportunity will require leadership, focus, and technology. The payoff, however, will echo from the boardroom to the corporate hallways and to the bottom line.

I hope this highlight on risk management in unpredictable times is helpful; should you need assistance, let me know; I can connect you to the right people; you can contact me at hjschumacher59@gmail.com

LOCAL producers of dried pili nuts can now resume exporting their products to the European Union (EU).

It’s time for hybrids and EVs CSBANK launches its New Mobility campaign

MARCH 7, 2023. CSBank (Citystate Savings Bank) officially launches its Autoloans campaign focused on hybrid and electric vehicles that are available in the market. The “New Mobility for a Cleaner, Greener Philippines” aims to reduce, if not eliminate long waiting lines for HEV-EV vehicles. Upon approval of your CSBank Autoloan, the bank will help facilitate and source your vehicle reservation for the hybrid and electric vehicle of your choice. ”Our New Mobility campaign aims to address most of the pain points of buying a hybrid and electric vehicle and facilitate convenience for our customers,” CSBank EVP and COO Jaime Valentin L. Araneta said.

FUEL EFFICIENT AND GENTLER ON THE ENVIRONMENT. Hybrids burn less fuel and have fewer and cleaner emissions that lower pollution levels. Electric motors that typically assist the system also address noise pollution levels. With today’s fluctuating fuel prices and concern for the environment, it’s the best time to consider hybrid and electric vehicles for mobility.

NUMBER CODING EXEMPTION. Hybrids and electric vehicles are also exempt from the color-coding scheme according to Republic Act (R.A.) No. 11697, or the Electric Vehicle Industry Development Act (EVIDA). An article dated November 16, 2022, posted by Autoindustriya.com said that “EV and hybrid owners can now enjoy full exemption from coding, which nullifies the need for a second car, and puts them on a greener path to solving one of the biggest problems created by the transport sector: air pollution. Owners can also enjoy priority parking at establishments, which will soon be required to provide five percent of their spaces as dedicated parking for EVs. (ref: Coding Exempt: How to ID hybrids and EVs for Traffic Enforcers - Feature Stories (autoindustriya.com))

COLLABORATION WITH MULTI-BRAND DEALERSHIPS. The New Mobility campaign takes a step further by working closely with multi-brand dealerships Gateway Group, Grand Canyon Multi Holdings Inc., and other partners. “Our engagement with partner dealerships has enabled us to facilitate multi-brands of hybrid and electric vehicles, like Nissan, Suzuki, Toyota, Hyundai, and Geely for our customers,” according to Arvin Ison, CSBank’s Autoloans Head.

FLEXIBLE PAYMENT OPTIONS. Hybrids and electric vehicles have higher prices compared to petrol and diesel-fuel vehicles. CSBank’s offer includes Flexible Payment Options to address the higher price point of HEV-EVs.

TEST DRIVES AND VEHICLE DISPLAYS IN 8 LOCATIONS. For the March 7 launch, the New Mobility campaign has arranged a vehicle test drive and car displays in eight (8) locations. A Nissan Kicks Test Drive at Nissan Alabang and Nissan Bataan through Nissan Philippines Inc., and displays at 6 CSBank branches located at Las Piñas, Sta. Rosa, Shaw Boulevard Mandaluyong, Greenhills, Meycauayan, and Urdaneta. Visit Nissan Alabang, Alabang-Zapote Road and Nissan Bataan, McArthur Highway and experience the Nissan Kicks! You will also see vehicle displays at Gateway and Grand Canyon showrooms nationwide.

CONTACT DETAILS FOR INQUIRIES. Interested in the New Mobility for a Cleaner, Greener Philippines? Text or call the CSBank Hybrid-EV Hotline at 0906 375 1002, or email us at csbankhybridev@gmail.com. You may also visit our website: www.citystatesavings.com.

Our partners:

Grand Canyon Multi Holdings Inc.

Grand Canyon Multi Holdings Inc.'s success in the automobile sector is attributed to its "passion for cars, life, and service." Grand Canyon expanded its network from 5 dealers to 30 dealers nationwide during the last five years. Representing nine brands (Hyundai, Volkswagen, Subaru, Suzuki, Foton, Chevrolet, Kia, MG, and Mitsubishi), their dealerships ensure that each customer receives the highest quality service possible.

Grand Canyon Multi Holdings Inc. is a division of JMB Traders, Inc., a company that engages in the sale and financing of motorcycles as well as real estate, hotels, travel agencies, and publishing and media.

GATEWAY Group Gateway Group is a multi-brand automotive dealership company founded in Cebu in 2004 by the Goho Family.

The group successfully rose their ventures to Twenty (20) Global Automotive brands including Kia, BMW, Nissan, Suzuki, Peugeot, Foton, Geely, MG, Chery, Subaru, Fuso, Chevrolet, Volkswagen, Volvo, Maxus, Changan, Honda, Hyundai, GAC and Mitsubishi.

Gateway has a nationwide dealership presence in Metro Manila, North Luzon, South Luzon, Visayas, and Mindanao, and is the largest dealer group in the Philippines.

Gateway continues to grow by maintaining high customer satisfaction through good sales and service.

People’s General Insurance People’s Surety and Insurance Corporation was founded on May 22, 1950 by Filipino businessmen led by Ambassador Tomas C. Benitez. In 1981, the Mercantile Insurance Company and Yasuda Fire and Marine Insurance Co. LTD of Tokyo, Japan through a joint venture, took over the operation of the company. It was then when PEOPLE’S TRANS EAST ASIA INSURANCE CORPORATION came into existence.

In 1992, People’s Trans East Asia Insurance Corporation made an unprecedented move to operate as a 100% Filipino Controlled Corporation. The new management brought the company to unparalleled heights in terms of production and profits.

By 1999, the new Chairman of the Board Ernesto J. Del Rosario, together with Vice Chairman and President Alfredo D. Cruz, registered PEOPLE’S GENERAL INSURANCE CORPORATION with the SEC.

With over 68 years in existence, the People’s Gen journey continues. The quest for excellence in providing total customer satisfaction, remains their driving force in keeping up with the demands of cli-

ents. They remain committed to the ever changing needs of the insuring public, adhering to the guidelines set forth by the Insurance Commission.

A side from motor insurance, People’s Gen pro -

vides fire, personal accident, bond and special miscellaneous lines insurance, and is always committed to assisting the insurance needs of its partner banks and dealers.

PBBM orders PNP, AFP to list ‘hot spots’ after high-profile killing of politicians

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R. Marcos Jr. ordered authorities on Monday to tag political violence hot spots and launch a nationwide campaign against illegal firearms and private armies following the series of high-profile killings of politicians.

During a chance interview after the Kapatid Angat Lahat for Agriculture Program (KALAP) in Malacañang, the President said he gave the instruction to the Department of the Interior and Local Government (DILG) and Philippine National Police (PNP) to prevent similar future incidents.

“ That’s why we are looking and getting all the best intelligence we can from our people on the ground to tell us where the places we should be looking at,” Marcos said.

He also wants the PNP and Armed Forces of the Philippines to intensify their drive against illegal firearms and private armies, which he said, enable such brazen killings.

As long as there are few illegal firearms [in circulation], there will be few similar crimes. Also such private armies should also be dismantled,” Marcos said.

T he President made the pronouncement when asked about the killing of Negros Oriental Governor Roel R. Degamo.

Degamo and five others were killed after six armed men dressed in military uniform entered the governor’s residential compound last Saturday.

MARCOS said he was shocked and terrified by the brazenness of the people behind the said attack.

“ The killing of Governor Degamo is entirely unacceptable and it will not stand. This cannot go unpunished,” Marcos vowed.

T he President said he is pleased with the progress investigation into the incident as well as the hot pursuit operations against perpetrators.

To maintain peace and security in Negros Oriental following the incident, Marcos said the police and the Army have made their presence in the province more visible.

T his was in response to the request of Pryde Henry A. Teves for protection.

Teves was initially declared the winner of the Negros Oriental 2022 gubernatorial race, but was later replaced by Degamo after the Commission on Election (Comelec) denied the motion for reconsideration of Grego Guardia.

Guardia also ran in the 2022 polls using the name “Ruel Degamo” in the ballots thus was declared a nuisance candidate by Comelec.

T he poll body credited the votes of Guardia to Degamo.

Other incidents

ASIDE from Degamo, other politicians, who were attacked by gunmen last month were Lanao Del Sur Governor Mamintal Adiong Jr.; Aparri Vice Mayor Rommel Alameda; and Datu Montawal town Mayor Ohto Montawal.

Adiong and Alameda died from the separate shooting incidents, while Montawal was wounded.

L ast week, San Carlos Barangay chairman Vivencio Palo was shot dead in Lipa City.

Marcos, however, pointed out some of the said killings may not be politically motivated. He noted, however, that Degamo’s assassination might be “politically motivated.”

SASSMAPI lauds DTI-BPS for seizure, destruction of substandard angle bars

LOCAL manufacturers welcomed the seizure and subsequent destruction of P740,000 worth of substandard steel angle bars conducted by the Department of Trade and Industry—Bureau of Product Standards (DTI-BPS), noting that this is a big step toward protecting the public against the sale and use of hazardous sub-quality construction products. (See https://businessmirror.com.ph/?s=P740%2C000+worth+of+su bstandard+steel+angle+bars+)

T he Steel Angles, Shapes, and Sections Manufacturers Association of the Philippines Inc. (SASSMAPI) said its members fully support the DTIBPS in going after sources of substandard steel products, especially now that the country is bracing for powerful quakes that may be caused by the imminent movement of several active Philippine fault lines.

“ We laud the efforts of the DTI-BPS in strictly enforcing the product standard guidelines for critical products like angle bars that have multiple applications, including the construction of houses, buildings, and billboards. We have to make sure that these structures are only using angle bars that passed the quality standards set by the government because of the frequent typhoons and earthquakes that we are experiencing,” SASSMAPI President Ramon Tan stressed.

T he DTI-BPS reported that it prevented the sale and distribution of 600 pieces of substandard equal-leg steel angle bars worth P740,000 that were seized in Valenzuela City after they were found to be “non-conforming” with the elongation requirement of Philippine National Standard (PNS) 657:2008 (Hot-Rolled Steel Sections-Equal-leg Angles-Specifications) as confirmed by third-party testing.

T he substandard equal-leg steel angle bars were destroyed in the presence of DTI-BPS representatives last January 20 at the manufacturer’s warehouse in Valenzuela City using an oxy-acetylene torch prior to transfer to the manufacturer’s smelting facility. The agency did not disclose the identity of the manufacturer.

Tan noted that the PNS 657:2008 quality standard on elongation is critical as it sets the parameters for the permanent extension in the gauge length of a steel bar measured after rupture.

SASSMAPI, Tan said, is ready to lend its resources to the DTI-BPS in enforcing the quality standards for equal-leg steel angle bars. It is among the 111 products covered under the BPS’s Mandatory Product Certification Schemes.

Russian shelling hits Ukrainian town as Bakhmut battle rages

War, a Washington-based think tank, assessed last week that Kyiv’s actions may point to a looming pullout from parts of the city. It said Ukrainian troops may “conduct a limited and controlled withdrawal from particularly difficult sections of eastern Bakhmut,” while seeking to inhibit Russian movement there and limit exit routes to the west.

The town of Kupiansk is about 30 kilometers (18 miles) from the Russian border; the region has come under frequent attacks even though Russian ground forces withdrew from the area nearly six months ago. Gov. Oleh Syniehubov said at least five homes were razed in the latest attack that left a 65-year-old man dead.

Two civilians were killed over the past day in Bakhmut, Donetsk province Gov. Pavlo Kyrylenko said. Russian forces have spent months trying to capture the city as part of their offensive in eastern Ukraine, and the area has seen some of the bloodiest ground fighting of the war.

In recent days, Ukrainian units destroyed two key bridges just outside Bakhmut, including one linking it to the nearby town of Chasiv Yar along the last remaining Ukrainian resupply route, according to UK military intelligence officials and other Western analysts.

Associated Press journalists near Bakhmut on Saturday saw a pontoon bridge set up by Ukrainian soldiers to help the few remaining residents reach the nearby village of Khromove. Later, the AP team saw at least five houses on fire as a result of attacks in Khromove, a nearby settlement.

The Institute for the Study of

Capturing Bakhmut would not only give Russian fighters a rare battlefield gain after months of setbacks but also might rupture Ukraine’s supply lines and allow the Kremlin’s forces to press on toward other Ukrainian strongholds in Donetsk province.

In southern Ukraine, a woman and two children were killed in a residential building in the Kherson region village of Poniativka, the Ukrainian president’s office reported. A Russian artillery shell hit a car in Burdarky, another Kharkiv province village, killing a man and his wife, the regional prosecutor’s office said.

Casualties increased from an attack earlier in the week. Ukraine’s emergency services reported Sunday that the death toll from a Russian missile strike that hit a

five-story apartment building in southern Ukraine on Thursday rose to 13.

One of the few areas where Russia and Ukraine have cooperated during the war is grain shipments. On that front, Turkish Foreign Minister Mevlut Cavusoglu said Sunday his country is engaged in “intense efforts” to extend an agreement that allowed Ukraine to export grain from its Black Sea ports.

The deal, which the UN and Turkey brokered in July 2022 and was extended by four months in November, is set to expire March 18.

In a speech at the opening of the UN Conference on Least Developed Countries in Doha, Qatar, Cavusoglu said he had discussed another extension with UN Secretary-General Antonio Guterres.

The agreement, which also allows Russia to export food and fertilizers, has helped temper rising global food prices. However, Russian officials have complained that shipments of the country’s fertilizer were not being facilitated under the agreement, leaving the deal’s renewal in question. AP

China’s planning officials promise 12 million jobs, economic rebound

By Joe Mcdonald AP Business Writer

BEIJING—Chinese economic officials expressed confidence Monday they can meet this year’s growth target of “around 5 percent” by generating 12 million new jobs and encouraging consumer spending following the end of anti-virus controls that kept millions of people at home.

The Cabinet planning officials announced no details of spending or other initiatives to revive growth that slumped to 3 percent last year, the second lowest in decades. But they said they plan an array of measures to meet goals announced Sunday by Premier Li Keqiang by raising incomes and encouraging innovation.

Efforts to revive the Chinese economy have global implications after weak retail, auto and housing sales depressed demand for

imports. The country is the biggest export market for its Asian neighbors and an important revenue source for Western companies.

“There are many policy tools in our toolbox,” the deputy chairman of the National Reform and Development Commission, Li Chunlin, said at a news conference held during the meeting of China’s ceremonial legislature.

The premier’s work report Sunday was unusually brief and gave few details, suggesting the ruling Communist Party will wait until a new premier and Cabinet ministers are appointed this month in a once-a-decade handover to announce tax, regulatory, subsidy and other changes.

This year’s job creation target is 12 million, up from last year’s goal of 11 million and below the 12.1 million that was achieved, according to Li.

The NDRC chairman, Zhao Chenxin, said the priority is to

“release consumption potential” and promote an “innovationdriven development strategy.”

That is in line with ruling party plans to nurture self-sustaining growth based on consumer spending instead of exports and investment and to generate prosperity and global influence by making China a creator of valuable technologies.

The NDRC’s Li warned that the global environment “is becoming more complex and severe,” a reference to weak export demand due to Western interest rate increases to cool inflation and strained relations with Washington and other trading partners over technology, security and territorial disputes.

That will add to pressure on Chinese export industries that support millions of jobs, increasing the importance of self-sustaining business activity at home.

“Ability to consume comes from employment and income,” so the

Scholz warns of ‘consequences’ if China sends arms to Russia

BERLIN—German Chancellor Olaf Scholz says there would be “consequences” if China sent weapons to Russia for Moscow’s war in Ukraine, but he’s fairly optimistic that Beijing will refrain from doing so.

Scholz’s comments came in an interview with CNN that aired Sunday, two days after he met US President Joe Biden in Washington.

US officials have warned recently that China could step off the sidelines and begin providing arms and ammunition to Moscow. Ahead of his trip, Scholz had urged Beijing to refrain from sending weapons and instead use its influence to press Russia to withdraw its troops from Ukraine.

nature of the consequences. Germany has Europe’s biggest economy, and China has been its single biggest trading partner in recent years.

Back in Germany on Sunday, Scholz was asked after his Cabinet met with European Commission President Ursula von der Leyen whether he had received concrete evidence from the US that China was considering weapons deliveries and whether he would back sanctions against Beijing if it helped arm Russia.

“We all agree that there must be no weapons deliveries, and the Chinese government has stated that it wouldn’t deliver any,” the chancellor replied. “That is what we are demanding and we are watching it.”

government must “increase the income of urban and rural residents,” Li said.

Li gave no details, but the ruling party has previously pressured ecommerce and other big companies to share more of their wealth with the public by raising wages and cutting charges for small vendors and other entrepreneurs.

The growth target is the lowest on record except for 2020, when the government dropped its goal at the start of the Covid pandemic.

“We view it as a relatively conservative but pragmatic proposal for delivering a healthy and organic economic recovery,” said Nomura economists in a report. “China’s economy is still set to face with multiple headwinds over the course of the year.”

The higher unemployment might be harder to achieve, so “job creation is likely to be a focus of work this year,” they wrote.

Stationmaster charged in Greece’s deadliest train crash that killed 57

By Demetris Nellas & Costas Kantouris

Associated Press

The

ATHENS, Greece—A stationmaster accused of causing Greece’s deadliest train disaster was charged with negligent homicide and jailed pending trial Sunday, while Prime Minister Kyriakos Mitsotakis apologized for any responsibility Greece’s government may bear for the tragedy.

An examining magistrate and a prosecutor agreed that multiple counts of homicide as well as charges of causing bodily harm and endangering transportation safety should be brought against the railway employee.

At least 57 people, many of them in their teens and 20s, were killed when a northbound passenger train and a southbound freight train collided late Tuesday north of the city of Larissa, in central Greece.

The 59-year-old stationmaster allegedly directed the two trains traveling in opposite directions onto the same track. He spent 7 1/2 hours Sunday testifying about the events leading up to the crash before he was charged and ordered held.

“My client testified truthfully, without fearing if doing so would incriminate him,” Stephanos Pantzartzidis, the stationmaster’s lawyer, told reporters. “The decision (to jail him)

was expected, given the importance of the case.”

Pantzartzidis implied that others besides his client share blame, saying that judges should investigate whether more than one stationmaster should have been working in Larissa at the time of the collision.

“For 20 minutes, he was in charge of [train]safety in all central Greece,” the lawyer said of his client.

Greek media have reported that the automated signaling system in the area of the crash was not functioning, making the stationmaster’s mistake possible. Stationmasters along that part of Greece’s main trunk line communicate with each other and with train drivers via two-way radios, and the switches are operated manually.

The prime minister promised a swift investigation of the collision and said the new Greek transportation minister would release a safety improvement plan. Once a new parliament is in place, a commission also will be named to investigate decades of mismanagement of the country’s railway system, Mitsotakis said.

In an initial statement Wednesday, Mitsotakis had said the crash resulted from a “tragic human error.” Opposition parties pounced on the remark, accusing the prime minister of trying to cover up the state’s role and making the inexperienced stationmaster a scapegoat. “I owe everyone, and especially the victims’

relatives, a big apology, both personal and on behalf of all who governed the country for many years,”Mitsotakis wrote Sunday on Facebook. “In 2023, it is inconceivable that two trains move in different directions on the same track and no one notices. We cannot, we do not want to, and we must not hide behind the human error.”

Greece’s railways long suffered from chronic mismanagement, including lavish spending on projects that were eventually abandoned or significantly delayed, Greek media have reported in several exposes. With state railway company Hellenic Railways billions of euros in debt, maintenance work was put off, according to news reports.

A retired railway union leader, Panayotis Paraskevopoulos, told Greek newspaper Kathimerini that the signaling system in the area monitored by the Larissa stationmaster malfunctioned six years ago and was never repaired.

Police and prosecutors have not identified the stationmaster, in line with Greek law. However, Hellenic Railways, also known as OSE, revealed the stationmaster’s name Saturday, in an announcement suspending the company inspector who appointed him. The stationmaster also has been suspended.

Greek media have reported that the stationmaster, a former porter with the railway company, was transferred to a Ministry of

Education desk job in 2011, when Greece’s creditors demanded reductions in the number of public employees. The 59-year-old was transferred back to the railway company in mid-2022 and started a 5-month course to train as a stationmaster.

Upon completing the course, he was assigned to Larissa on January 23, according to his own Facebook post. However, he spent the next month rotating among other stations before returning to Larissa in late February, days before the February 28 collision, Greek media reported.

On Sunday, railway unions organized a protest rally in central Athens attended by about 12,000 people according to authorities.

Five people were arrested and seven police officers were injured when a group of more than 200 masked, black-clad individuals started throwing pieces of marble, rocks, bottles and firebombs at officers, who gave chase along a central avenue in the city while using tear gas and stun grenades.

In Thessaloniki, about 3,000 people attended two protest rallies. Several of the crash victims were students at the city’s Aristotle University, Greece’s largest, with over 50,000 students.

The larger protest, organized by left-wing activists, marched to a government building. No incidents were reported at that event.

KantourisreportedfromThessaloniki,Greece

Asked by CNN if he could imagine sanctioning China if it did aid Russia, Scholz replied: “I think it would have consequences, but we are now in a stage where we are making clear that this should not happen, and I’m relatively optimistic that we will be successful with our request in this case, but we will have to look at [it] and we have to be very, very cautious.”

He didn’t elaborate on the

He didn’t address the sanctions question.

Von der Leyen said that “we have no evidence for this so far, but we must observe it every day.”

She said that whether the European Union would sanction China for giving Russia military aid “is a hypothetical question that can only be answered if it were to become reality and fact.” AP

Fire at Rohingya camp in Bangladesh leaves thousands of refugees homeless

COX’S BAZAR, Bangladesh—A massive fire at a crammed camp for Rohingya Muslims in southern Bangladesh left thousands of the refugees homeless Sunday, a fire official and the United Nations said.

No casualties were reported at Balukhali camp in Cox’s Bazar district, said Emdadul Haque, a fire service official.

The UNHCR in Bangladesh said in a tweet that Rohingya refugee volunteers responded to the fire with the agency and its partners providing support. It provided no further details.

More than 1 million Rohingya refugees have fled to Bangladesh from Myanmar over several decades, including about 740,000 who crossed the border starting in August 2017, when the Myanmar military launched a brutal crackdown.

Conditions in Myanmar have worsened since a military takeover in 2021, and attempts to send back the refugees have failed.

Last year, the United States said the oppression of Rohingya in Myanmar amounts to genocide after US authorities confirmed accounts of mass atrocities against civilians by the military in a systematic campaign against the ethnic minority. Muslim Rohingya face widespread discrimination in Buddhist-majority Myanmar, where most are denied citizenship and many other rights.

KYIV, Ukraine—Russian shelling destroyed homes and killed one person in northern Ukraine’s Kharkiv province, the region’s governor said Sunday, while fighting raged in the fiercely contested eastern city of Bakhmut.

GERMAN Chancellor Olaf Scholz arrives for a two-day closed meeting of the German government at Meseberg palace in Gransee near Berlin, Germany, on Sunday, March 5, 2023. AP/MICHAEL SOHN

ROHINGYA refugees look for their belongings after a major fire broke in Balukhali camp at Ukhiya in Cox’s Bazar district, Bangladesh on Sunday, March 5, 2023. A massive fire raced through a crammed camp of Rohingya refugees in southern Bangladesh on Sunday, leaving thousands homeless, a fire official and the United Nations said. AP/MAHMUD HOSSAIN OPU

The World

Oil retreats on China’s cautious growth goal as Fed concerns linger

By Yongchang Chin

OIL declined at the start of the week after China set a modest growth target for this year and avoided any large stimulus, while concerns lingered over further monetary tightening from the Federal Reserve.

West Texas Intermediate dropped toward $79 a barrel after closing more than 4 percent higher last week. China’s Premier Li Keqiang announced a goal for gross domestic product of around 5 percent at the annual National People’s Congress on Sunday, lower than economists had expected. The nation, the world’s largest oil importer, ended its restrictive Covid Zero policy late last year.

Investors will be watching speeches from Fed Chair Jerome Powell and jobs data this week for clues on the path for monetary

tightening. Federal Reserve Bank of San Francisco President Mary Daly reiterated in a speech on Saturday the central bank’s willingness to leave borrowing costs higher for longer.

“A modest weakness is coming back again,” said Charu Chanana, a market strategist for Saxo Capital Markets Pte. “China’s weakerthan-expected growth target set over the weekend may still keep oil prices choppy, with eyes also on any possibility of hawkish remarks from Chair Powell this week.”

Oil has held within a tight $10 range since the start of the year, whipsawed by optimism over China’s recovery and expectations of further interest rate hikes from the Fed. Saudi Arabia has signaled confidence in the near term outlook, raising most of its prices for crude shipments to Asia and Europe for April. Bloomberg News

Germany, EU pursue talks on deal to ban combustion engines in 2035

By Petra Sorge &

DUBAI, United Arab Emirates—Iran’s supreme leader said Monday that if a series of suspected poisonings at girls’ schools are proven to be deliberate the culprits should be sentenced to death for committing an “unforgivable crime.”

It was the first time Supreme Leader Ayatollah Ali Khamenei, who has the final say on all matters of state, has spoken publicly about the suspected poisonings, which began late last year and have sickened hundreds of children.

Iranian officials only acknowledged them in recent weeks and have provided no details on who may be behind the attacks or what chemicals—if any—have been used. Unlike neighboring Afghanistan, Iran has no history of religious extremists targeting women’s education.

“If the poisoning of students is proven, those behind this crime should be sentenced to capital punishment and there will be no amnesty for them,” Khamenei said, according to the state-run IRNA news agency.

Authorities have acknowledged suspected attacks at more than 50 schools across 21 of Iran’s 30 provinces since November.

Iran’s Interior Minister Ahmad Vahidi said over the weekend that “suspicious samples” had been gathered by investigators, without elaborating. He called on the public to remain calm and accused unnamed enemies of inciting fear to undermine the Islamic Republic.

Vahidi said at least 52 schools had been affected by suspected poisonings, while Iranian media reports have put the number of schools at over 60. At least one boy’s school reportedly has been affected.

Videos of upset parents and schoolgirls in emergency rooms with IVs in their arms have flooded social media.

Iran has imposed stringent restrictions on independent media since the outbreak of nationwide protests in September, making

it difficult to determine the nature and scope of the suspected poisonings.

On Monday, Iranian media reported that authorities arrested a Qom-based journalist, Ali Pourtabatabaei, who had been regularly reporting on the suspected poisonings. The hardline Kayhan newspaper in an editorial had called for the arrests of newspaper publishers who printed articles on the crisis critical of Iran’s theocracy.

The protests were sparked by the death of a young woman who had been detained by morality police for allegedly violating the country’s strict dress code. Religious hard-liners in Iran have been known to attack women they perceive as dressing immodestly in public. But even at the height of Iran’s 1979 Islamic Revolution, women and girls continued attending schools and universities.

The children affected in the poisonings have reportedly complained of headaches, heart palpitations, feeling lethargic or otherwise unable to move. Some described smelling tangerines, chlorine or cleaning agents.

Reports suggest at least 400 schoolchildren have fallen ill since November. Vahidi, the interior minister, said in his statement that two girls remain in hospital because of underlying chronic conditions. There have been no reported fatalities.

As more attacks were reported Sunday, videos were posted on social media showing children complaining about pain in the legs, abdomen and dizziness. State media have mainly referred to these as “hysteric reactions.”

The World Health Organization documented a similar phenomenon in Afghanistan from 2009 to 2012, when hundreds of girls across the country complained of strange smells and poisoning. No evidence was found to support the suspicions, and the WHO said it appeared to be “mass psychogenic illnesses.”

Scholz met with European Commission President Ursula von der Leyen on the sidelines of a government retreat in Meseberg north of Berlin on Sunday. The chancellor expressed optimism a deal could be reached and said discussions would continue in the coming days.

Germany has put pressure on the commission, the EU’s executive arm, to come forward with a proposal that would allow combustion cars running exclusively on so-called e-fuels to continue to be sold after cut-off date. A final vote on the issue was due to take place on March 7, but was indefinitely delayed amid fears that Germany could abstain, which would torpedo the regulation.

“We are in a constructive dialog,” von der Leyen told reporters after the meeting. “We give full support for technological openness, but it must be in line with our goal of climate change.” She added that the discussions were “good and constructive.”

Decarbonizing transport is seen as a key pillar of the EU’s goal to cut emissions by 55 percent this decade on the way to climate neutrality by 2050. But cars hold outsize importance

in Germany, where the auto industry employs about 800,000 people and has revenue of about €411 billion ($437 billion), making it the largest segment of the economy by far.

The intervention by Germany comes at a very late stage of the process—The EU’s 27 member states reached a deal with parliament on the rules in October. Substantial changes to the regulation now would require reopening the file—a process that could take many months and add uncertainty to the outcome. Instead, the commission could try to solve the matter with a statement or declaration making clear its intention to come up with a proposal.

Scholz said that the issue is what can be achieved regarding the outlook for vehicles that exclusively use e-fuels after 2035. “It’s not at all about differences of opinion but about the question of how it can work,” he said. “And that is such a solvable question that we’re all very optimistic—not just within the German government but also regarding our talks with the commission.”

The FDP, the junior partner in Scholz’s three-party alliance, has been the driving force behind

opposition to the combustion engine ban. FDP officials including Transport Minister Volker Wissing have been trying to raise the party’s profile in the government in recent months and he called on the commission to come up with a viable solution, such as making combustion engines that run on synthetic fuels exempt from the ban.

“The internal combustion engine itself is not the problem, the fossil fuels it runs on are,” Wissing said Sunday in a tweet. “Climate neutrality is the goal and at the same time an opportunity for new technologies,” he added. “To achieve this, we have to be open to different solutions.”

Climate goals

PROPONENTS of e-fuels say they’re essentially renewable electricity that’s been converted into a combustible, liquid fuel.

To make it, captured carbon dioxide is combined with hydrogen split from water in a process powered by renewable energy, creating a synthetic hydrocarbon fuel. When burned in a combustion engine, the e-fuels create carbon dioxide. But since it was

made from previously captured CO2, backers argue it’s climate neutral.

Opponents say e-fuels are a waste of renewable energy and should be saved for harder-to-decarbonize uses. There are also concerns in the industry itself that an e-fuel exception—even if limited to some sports cars—could blunt the impact of a clear 2035 ban on combustion engines.

The EU has been struggling to come up with assurances that would assuage the FDP, but is constrained by a tight time line ahead of EU elections next year. The bloc is due to review the regulation by 2026, but that is understood to be too far off for government in Berlin.

While German officials have signaled willingness to compromise, the issue has nonetheless raised fears over potential objections to other parts of the EU’s ambitious climate agenda.

The vote on carbon rules in cars this week was supposed to be a formality after a deal was struck between the bloc’s 27 member states and parliament in October. With assistance from Wilfried Eckl-Dorna/Bloomberg

Strange ideas being floated at China’s elite gathering

By Low De Wei

THOUSANDS of delegates have descended on China’s most important political gathering this week to vie for Beijing’s ear on a slew of unusual proposals, ranging from reinventing the weekend to offering free education as an incentive for parents to have more children.

Many of the quirkier or more high-reaching proposals aren’t likely to become law. Instead, they serve as an opportunity for attendees to go beyond their rubberstamp duties and offer their own solutions to China’s socioeconomic issues.

“It is an opportunity for a delegate to stand out and be noticed, especially if they are proposing an issue that is becoming salient,” said Anthony Saich, the director of the Rajawali Foundation Institute for Asia and the Daewoo Professor of International Affairs at Harvard University’s John F. Kennedy School of Government. That gives the attendees a chance to actually affect policy.

“Certain livelihood issues can be considered or spur the government into action,” said Christopher McNally, professor of political economy at Chaminade

University of Honolulu.

Here are some noteworthy proposals this year from the Chinese People’s Political Consultative Conference, an advisory body that meets at the same time as China’s parliament:

Ditching the two-day weekend

ONE controversial proposal from delegate Xiong Shuilong, a representative of Guangdong province, would completely change the workweek, as we know it. He argued for the country to swap the traditional two-day weekend to one that involves alternating six-day and fourday workweeks.

As Xiong sees it, the Saturday-Sunday system isn’t conducive for domestic tourism, since people usually reserve extended travel for China’s limited number of weeklong public holiday periods. By switching things up, people would get more three-day weekends over which they might be inclined to travel, even if that means having to take one-day breaks on alternating Wednesdays.

The suggestion has already backfired. Many users of China’s Twitter-like Weibo service greeted the proposal with cynicism, saying they already face having to work weekends.

“I will thank the heavens if we mandate two-day weekends first,” one wrote.

‘Forest food’ as a demand driver

PROPOSALS focused on how to revive the domestic economy are in abundance at the meeting, given the importance that consumption is expected to play in the economic rebound.

One idea is to create a national development plan for so-called “forest food,” or edible items like honey and fruits that are found or made in the forest. The thinking is that those products are not reliant on traditional agriculture, and so present an alternative way to increase the food supply.

Reversing the decline in birth rates

SEVERAL proposals took a stab at stemming the decline in China’s population, with particular emphasis on ways to raise the birth rate—a concern that Harvard’s Saich noted has been top of mind for President Xi Jinping.

One proposal would incentivize more births by offering free kindergartento-university education for a family’s third child. The government has been easing birth limits after for decades only allowing couples to have a single child, but the

population has continued to decline.

Another delegate keyed in on the rising costs of betrothal gifts as a possible reason why less couples are tying the knot. Shi Bingqi suggested discouraging the custom of offering presents like jewelry and other items to brides’ families by subsidizing wedding costs for those who choose to avoid the practice, which sometimes operate like dowries.

Textbook screening and Chinese language rules

A POPULAR nationalist blogger and delegate is seeking to make his mark this year after proposing a new rule to solicit public feedback for textbook content before publication.

Zhou Xiaoping—who catapulted to fame in 2014 after Xi praised the “positive energy” in his patriotic essays—put forward his plan after a public outcry last year over the illustrations in a set of its primary school textbooks. The designs were criticized as ugly, pornographic and racist. He also suggested requiring foreigners seeking to work or study in China to pass a Chinese proficiency test before they are allowed to submit an application. With assistance from Li Liu, Shirley Zhao and Jing Li/Bloomberg)

John Ainger

GERMAN Chancellor Olaf Scholz said talks were constructive with the European Union in resolving a dispute over plans to ban new combustion-engine cars in the bloc from 2035, after Berlin derailed the effort this past week.

IN this picture released by the official website of the office of the Iranian supreme leader, Supreme Leader Ayatollah Ali Khamenei speaks in a meeting with members of the Revolutionary Guard’s all-volunteer Basij force in Tehran, Iran on November 27, 2019. Iran’s supreme leader said Monday, March 6, 2023, that if a series of suspected poisonings at girls’ schools are proven to be deliberate the culprits should be sentenced to death for committing an “unforgivable crime.”

Iran’s top leader says suspected poisonings ‘unforgivable crime’

GERMAN Chancellor Olaf Scholz, right, welcomes European Commission President Ursula von der Leyen, left, for a meeting as part of a two-day closed meeting of the German government at Meseberg palace in Gransee near Berlin, Germany, on Sunday, March 5, 2023. AP/MICHAEL SOHN

editorial

Finding ingenious ways to end Myanmar crisis

The Myanmar military, led by Army General Min Aung hlaing, launched a coup against the civilian government on February 1, 2021, declaring the results of the November 2020 general election invalid. President Win Myint and State Counsellor Aung San Suu Kyi and other senior officials of the governing National League for Democracy Party were arrested on the grounds of widespread fraud in the general election, which the NLD won with a large majority.

On April 24, 2021, Asean held a high-level summit in Jakarta to discuss the mounting crisis in Myanmar. In attendance was Junta Leader Min Aung Hlaing. A five-point consensus plan was agreed at the summit: An immediate cessation of violence in Myanmar, constructive dialogue among all parties, the appointment of a special Asean envoy to facilitate dialogue, the provision of humanitarian assistance, and a visit by the envoy to Myanmar. The summit failed to call for the release of Aung San Suu Kyi and other political prisoners.

The Asean’s five-point consensus plan to resolve the crisis in Myanmar miserably failed, mostly because of the junta’s uncompromising military leadership. More than two years after the 2021 coup, Myanmar remains in deep crisis, with the economy moribund and millions in need of humanitarian assistance.

The civilian death toll at the hands of the junta reached an estimated 3,000 last month, while more than 15,800 people remain in unlawful detention, according to the Assistance Association for Political Prisoners, which monitors regime killings and arrests.

The junta said national elections will be held in August. On January 26, 2023, the junta announced the Political Party Registration Law, which repeals a 2010 legislation. The new law prohibits anyone previously convicted of a crime or serving a prison term from joining a political party. This disqualifies many senior members of the NLD, including party leader Aung San Suu Kyi and President Win Myint, both serving lengthy sentences on fabricated charges.

From the Associated Press: “Malaysian Prime Minister Anwar Ibrahim urged the Association of Southeast Asian Nations to speak up and hold Myanmar’s military leaders accountable for blatant human rights violations, but said the country should remain in the regional bloc. Anwar, who took office in November, has become one of the most vocal critics in Asean of Myanmar’s military, which seized power from the democratically elected government of Aung San Suu Kyi in 2021.”

During his visit to the Philippines, Anwar discussed the Myanmar crisis with President Ferdinand Marcos Jr. and called on Asean to explore new ways to persuade Myanmar’s ruling generals to halt the violence, saying it is affecting the region. “They need to do more because it is causing us a major problem, we have 200,000 (Myanmar) refugees in Malaysia alone,” Anwar told The Associated Press after delivering a lecture Thursday at the University of the Philippines, at which he received an honorary degree for advocating democracy and fighting corruption.

In his lecture, Anwar urged Asean to speak up on atrocities in Myanmar and not be restrained by the group’s bedrock principles of deciding by consensus and non-intervention in each other’s domestic affairs. Deciding by consensus “does not mean that Asean should remain silent over developments in member states that affect the wider region or particularly egregious violations of the Asean charter by its own members,” Anwar said. “In all honesty, I believe that non-interference is not a license for indifference,” he added.

Western nations have taken strong actions, including political and economic sanctions against the Myanmar generals and their cronies. Under intense international pressure, Asean excluded top Myanmar officials from the bloc’s meetings starting in 2021. Pundits said the regional bloc can do more to help the people of Myanmar by declaring this early that they will not accept the military junta’s sham election. The generals are counting on Asean to accept the elections, which is seen conferring legitimacy on a military-dominated government that will emerge. It would do well for Asean members to help explore ingenious ways to end the Myanmar crisis.

Bullish on investments

Manny B. Villar

THE EnTrEprEnEur

ONe of the major economic indicators I monitor as an entrepreneur is the level of investments in the Philippines, both foreign and domestic. It is as critical as inflation, interest and exchange rates because investment provides you with a lead for your next economic opportunity.

Investment pledges or commitments as they suggest reap dividends in the future for both the businessman or entrepreneur and the government in terms of tax revenues. Foreign investments, aside from supporting the foreign exchange reserves, will generate new jobs, promote economic development and increase the purchasing power of a local community where the new business will open, and sustain growth. For the investor with links to the foreign markets, his investment opens up additional export opportunities and bolsters the nation’s overall performance in the outbound shipment category. Investments will also create business opportunities in other economic sectors as more locals increase their expenditures. The newly employed, for one, may buy new appliances, raise his household spending and even start thinking of acquiring a car or a house-andlot package.

The latest data released by the Board of Investments are encouraging. The agency has upgraded its 2023 investment registration target for this year to P1.5 trillion, or 50 percent higher than its original forecast of P1 trillion. I do not blame Trade Secretary and BOI Chairman Alfredo Pascual for his optimism, after noting the strong pipeline of investment leads that include those generated through the state visits of President Ferdinand Marcos Jr.

According to the BOI report, the nation’s primary investment promotion body, new applications for registration totaled P414 billion as of February 9, 2023, or 143 percent higher than the P170.5 billion posted in the same period in 2022. The investment commitments in the coming months will surely increase as the DTI expects the entry of P344 billion in investment leads generated during President Marcos’s state vis-

its, through the combined efforts of the BOI and other investment promotion agencies.

For the entrepreneur reading this column, you might be interested to find out where the investments would be pouring in. Per the BOI report, Western Visayas attracted the highest investment pledges with P293.3 billion, followed by Calabarzon with P111.7 billion. Eastern Visayas accounted for P3.5 billion of the pledges, while Central Luzon and Metro Manila shared P3 billion and P783 million, respectively.

I am certain that President Marcos’s recent state visits have placed the Philippines back on the radar of foreign investors with the chief executive himself leading the sales pitch. An increasing number of investors from Southeast Asia, the US, Belgium, China and Japan are now showing strong interest in placing their bet on the Philippines.

President Marcos has already visited nine nations to renew official ties and strengthen the economic relations of the Philippines with these countries.

His recent visit to Japan, which I wrote in my previous column, produced excellent results. The Philippines and Japan signed 34 investment agreements worth about $13 billion, comprising of closed deals and prospective ones.

The Philippines can expect more investment deals and pledges in the coming months, depending on the results of discussions from a large business forum during the Presi-

China’s potential technology monopoly

From the

John Mangun

OuTSIDE THE BOX

Sometime later one member of the clan kicked out of the watering hole is playing the bleached leg bone of a large animal. Wielding the bone, the ape pounds the ground until he smashes the skull of the dead animal.

His troop returns to the watering hole and now armed with their new weapons, kills the opposing leader and reclaims their territory. Technology wins, especially if you have a monopoly on it.

Ancient Rome conquered the Western world not only through its military but also through its construction technology. Their roads were built to withstand even the harshest environments and flood-

ing. Roman structures were so durable because of the use of concrete. Many Roman structures that are still standing today were built with this concrete.

England colonized the world because of its navy, a result of Britain’s technological lead, giving an increasing advantage over its enemies for nearly 200 years. Steam engines were developed to pump out deep mines to get at the coke that fired the iron founding process. The technology for boring cannon was subsequently used to make pistons for steam engines. Copper was mined in vast quantities for the first time to provide sheathing for the hulls, which

dent’s state visit that gathered 80 Filipino businessmen and 300 Japanese companies. Increased investments in the Philippines will naturally translate into a more robust economic growth. The conservative International Monetary Fund is already bullish on its Philippine economic growth estimates, even without the forthcoming investments and despite the global headwinds.

It is now revising upward its 2023 growth projection for the Philippines to 5.5 percent from the previous estimate of 5 percent after seeing the strong numbers recorded in the fourth quarter of 2022.

It backed up the higher growth estimates with declining Covid-19 cases in the country, the reopening of borders, the strong rebound in private consumption and investments and the steady increase in private sector credit.

It says further progress on attracting foreign direct investments and promoting structural change and boosting productivity, including the agricultural sector, could raise the potential growth to about 6.5 percent and closer to the government’s numbers.

Respective financial institutions like the IMF are optimistic on our growth and investments prospects. I will be the last person to disagree with them.

For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar.com.ph

eventually in 2001, the iPod. Now we have streaming music. The last half of the 20th century was a period of expecting and anticipating the next jump forward in technology.

The original iPhone came out in 2007 and we are now at iPhone 14.

The original PlayStation was first released in December 1994 and the PS5 in 2020. But with both of those products, there is not much fundamental difference between the “original” and the “latest.” Control of the latest technology created the Roman, British, and American empires. Who might be in charge now?

hugely improved their endurance.

The US virtually owned the 20th century because of the technology developed including the light bulb, electricity, and transmission systems with the single most important invention of the 20th century being the transistor.

I can remember seeing color television for the first time when I was eight years old. The hand-held transistor radio became a “Walkman” and

Similar to the US government’s RAND Corporation is the Australian Strategic Policy Institute (ASPI), a defense and strategic policy think tank founded by the Australian government and funded by the Australian and overseas governments, and defense and technology companies.

Published last week is the “ASPI’s Critical Technology Tracker: The global race for future power,” answering the question “Who is leading the Critical Technology race?”

From the 75-page report: “Western democracies are losing the

001: A Space Odyssey” is a 1968 epic science fiction film. The movie opens with a group of ape-like hominins being forced from their watering hole by a more aggressive rival tribe.

Party of Estonian PM, strong Ukraine backer, gains big win

By Jari Tanner | The Associated Press

TALLINN, Estonia—Voters in Estonia elected a new parliament Sunday with initial results suggesting the center-right Reform Party of Prime Minister Kaja Kallas, one of Europe’s most outspoken supporters of Ukraine, had won overwhelmingly with nearly all votes counted.

Kallas faced a challenge from the far-right populist EKRE party, which seeks to limit the Baltic nation’s exposure to the Ukraine crisis and blames the current government for Estonia’s high inflation rate.

Nine political parties in all fielded candidates for Estonia’s 101-seat parliament, or Riigikogu. Over 900,000 people were eligible to vote in the general election, and nearly half voted in advance.

With 99 percent of votes counted, Reform Party had taken 31.4 percent of the votes, followed by EKRE with 16.1 percent percent and the Center Party, traditionally favored by Estonia’s sizable ethnic-Russian minority, 15 percent.

“This result, which is not final yet, will give us a strong mandate to put together a good government,” Kallas told her party colleagues and jubilant supporters at a hotel in the capital, Tallinn.

“I think that with such a strong mandate, the (aid to Ukraine) will not change because other parties, except EKRE and maybe Center, have chosen the same line,” she said.

Preliminary results suggested six parties passed the 5 percent threshold of support needed to be in parliament, including newcomer Eesti 200, a liberal centrist party. Voter turnout was 63.7 percent, according to initial information.

The initial results mean the Reform Party is in a remarkably strong position to take a leading role in forming Estonia’s next government; its support translates into 37 seats in the legislature. But it will need junior partners to form a coalition with a comfortable majority to govern.

Kallas has ruled out being in a government with EKRE due to ideological differences, and is likely to turn to former coalition partner the Center Party and outgoing coalition partners—the small conservative Fatherland party and the Social Democrats—for a pact.

Newcomer Eesti 200 is also likely to be included in government talks with Reform.

National security in the wake of neighboring Russia’s invasion of Ukraine and socio-economic issues, particularly the rising cost of living, were main campaign themes.

Kallas, 45, became prime minister in 2021 and has emerged as one of Europe’s most outspoken supporters of Ukraine during the yearlong war. She is seeking a second term, with her standing enhanced by her international appeals to impose sanctions on Moscow.

Continued from A10

global technological competition, including the race for scientific and research breakthroughs, and the ability to retain global talent— crucial ingredients that underpin the development and control of the world’s most important technologies, including those that don’t yet exist. Our research reveals that China has built the foundations to position itself as the world’s leading science and technology superpower.” ASPI covered 44 technology areas. The US controls 28.3 percent of technology in the area of “Vaccines and medical countermeasures.”

China controls 48.4 percent in “Advanced aircraft engines” versus the US with 11.7 percent.

ASPI looked at the degree of “Technology Monopoly Risk.” Of

Kallas, 45, became prime minister in 2021 and has emerged as one of Europe’s most outspoken supporters of Ukraine during the yearlong war. She is seeking a second term, with her standing enhanced by her international appeals to impose sanctions on Moscow.

A Baltic nation of 1.3 million people that borders Russia to the east, Estonia broke away from the Soviet Union in 1991 and has taken a clear Western course, joining Nato and the European Union.

Kallas’ center-right Reform Party, a key player in Estonian politics since the mid-1990s, continuously held the prime minister’s post during 20052016 and regained it in 2021.

EKRE party leader Martin Helme, the prime minister’s main challenger, faulted Kallas for the country’s inflation rate of 18.6 percent, one of the EU’s highest, and accused her of undermining Estonia’s defenses by giving weapons to Ukraine.

“We’ve never questioned support for Ukraine. We’ve never questioned Estonia’s membership in Nato,” Helme said in an interview with The Associated Press. “That’s just crazy talk. But we have been very critical of the government because they have not assessed the risk to Estonia and to Estonian security and defense.”

“We have basically given away all our heavy weaponry to Ukraine, and the replacement comes within two or three years. Basically, that is an invitation of aggression,” he said.

The outspoken and polarizing EKRE entered into the mainstream of Estonian politics in the 2019 election, when it emerged as the third-largest party with nearly 18% of the vote. The euroskeptic party was co-founded by Martin Helme’s father, Mart Helme, and was part of a Center Party-led government during 2019-21.

Kallas argues it’s in her country’s interests to help Kyiv. The full-scale invasion of Ukraine sparked fears in Tallinn that a Russian victory could embolden Moscow to switch its attentions to other countries it controlled in Soviet times, including Baltic nations Estonia, Latvia and Lithuania.

She says that Estonia’s defenses remain strong as the United States and other Nato allies have supplied top-notch weapons like the HIMARS rocket system to Ukraine and also to Estonia. Kostya Manenkov in Tallinn, Estonia contributed to this report.

the 44 technology areas, eight carry a “HIGH” degree of monopoly risk. These include Nanoscale materials and manufacturing, Advanced radiofrequency communications, Hydrogen and ammonia for power generation, Supercapacitors, Electric batteries, and Synthetic biology. All eight with the high monopoly risk belong to China. There is a “Medium Risk” of US monopoly in “Quantum computing.”

The conclusions: “China is further ahead in more areas as the leading country in 37 of the 44 technologies evaluated. Urgent policy changes, increased investment and global collaboration are required from many countries to close the enormous and widening gap (with China).” Good luck with that.

E-mail me at mangun@gmail.com. Follow me

Vintage hardball negotiations

Siegfred

Bueno Mison, Esq.

THE PATRIOT

GIVEN that the looming transport strike this month will adversely impact the commuting public and disturb school and business activities, several initiatives have been announced from both the public and private sectors. Some private schools and companies, for instance, have decided to suspend synchronous classes and in-person office work, respectively. Some local government units have been reported to offer free rides and financial assistance to drivers, to which “Manibela,” the group that has called for this work stoppage, has criticized LGUs for doing so. The Land Transportation Franchising and Regulatory Board (LTFRB) has extended the deadline for the traditional jeepney phaseout to December 31 upon the direction/advice of Transport Secretary Jaime Bautista and President Ferdinand Marcos Jr.

Much has been said about this bold and necessary modernization program, which will ultimately lead to the phaseout of traditional PUV units, whose drivers are asking for a more balanced, transparent, and calculated implementation. As for Secretary Bautista, he said that affected transport groups will be given ample time to purchase new units in line with the PUV modernization program while traditional PUV units will continue to ply their routes if new units will not be available in those areas. Having worked with Secretary Bautista at the Philippine Airlines (PAL), I know that he will have a listening ear and flexible muscles to arrive at a win-win solution for all affected stakeholders. Meanwhile, President Marcos said that while the modernization program is a necessary first step to the shift to electric vehicles, it has to be implemented with a realistic timetable, hence the extension, twice already. On the part of the striking jeepney drivers and operators, they are still reeling from the adverse impacts of a double whammy—Covid-related transport restrictions and the unabated fuel price hikes, principally due to the war in Ukraine.

The scenario is altogether entrenched in the fabric of negotiations where a stalemate could be inevitable. Opposing parties with passionate sentiments for their respective beliefs laconically find themselves in a gridlock. Author Ken Gosnell offered biblical-based solutions in difficult negotiations, which can be used by “opposing” leaders in the transportation industry in negotiating a commendable modernization program and avert the use of paralyzing strikes. According to Gosnell, negotiations must start with a genuine understanding of the other side by considering their “why” before looking at your own side in keeping with what the Bible tells us in Philippians 2:3 —“Do nothing out of selfish ambition or vain conceit, but in humility consider others better than yourselves.” At PAL, recent collective bargaining agreements (CBA) have been concluded with painstaking union negotiations led by the triumvirate of FASAP leaders in the persons of Bob Anduiza, Andy Ortega, and Ricky Montecillo. While last year’s CBA can be seen as long overdue as the pandemic threatened PAL’s very existence, these FASAP

leaders understood the dire financial situation of PAL and, more importantly, the needs of the riding public first, before considering the earnings and retirement benefits of their union members. I can only surmise that FASAP chose not to wield the union power to strike during these past few negotiations because of its mindset of putting the interest of PAL and of the country first before FASAP. As a result, both FASAP and PAL managed to live out the message enshrined in 1 Corinthians 10:24— “Try to do what is good for others, not just what is good for yourselves.” As a side note, kudos to erstwhile FASAP VP Andy Ortega who was recently appointed as Chairman, Office of Transportation Cooperatives—joining forces with his former “opposing side,” now DOTr Secretary Bautista.

Armed with that “other side first” mentality, forward planning helps in anticipating these pushand-pull factors in any negotiation. The inherent animosity between government and the companies it seeks to regulate will admittedly impact the outcome of the discussion. Thus, leaders from both sides must develop and adopt a deliberate and time-driven strategy to slowly cultivate a middle ground in the implementation of this modernization program. Constant dialogue helps, but transparent exchange of information is key to uphold the principles of fairness and justice. Most importantly, anger and hatred are stumbling blocks to negotiations, which can be a negotiator’s nightmare. And in our case, it has already ripened much earlier than expected. With the transport groups crippling the commuting public through a weeklong strike versus the cancellation of provisional authority for the non-complying parties to the PUV modernization program, a standoff has indeed blossomed albeit uninvited. As to which side of the table should win is a matter best left to the mature experts and not to the onion-skinned participants.

One “blog” I read said one

can’t force another side to negotiate a “win-win” deal. And although a deadlock may be created intentionally to achieve a “win-lose” deal (great for one side, awful for the other), it can easily result in either no deal at all, or even a mutually bad “loselose” outcome. Hence, a far more different remedy is necessitated, and one that entails a more selfless attitude from the opposing parties. If only all the stakeholders can adopt an “other side first” mentality, chances are we will be generating a modern and responsive transport modernization program that not simply jettisons a legacy of World War II (our the traditional jeepney) but enables and equips the men and women behind its wheels, all for the common good. We are in the age of astonishing automotive innovations for fuel efficiency, aerodynamics, safety and feature comforts. Perhaps the opposing parties in this apparent deadlock can start by looking into the other party’s “whys”, per Author Gosnell. Why do they object? Why do they insist? If we walk along the essence of the 1 Corinthians 10:24 verse, mindful of what is best for the other person and not only of what is best for ourselves, then a win-win solution is never far-fetched. A huge chunk of the success equation rests in the indubitable partaking of the transport sector, drivers and operators in general. If this strike is a stumbling block that cannot be hurdled even by hardball negotiations, then we might as well consider ourselves as vestiges of a vintage style hardball negotiation—unapologetic and bereft of a will to move forward.

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.

New plan pushes end to South Korea-Japan forced labor disputes

By Kim Tong-Hyung & Hyung-Jin Kim | The Associated Press

SEOUL, South Korea—South Korea took a step toward improving ties with historical rival Japan by announcing a plan Monday to raise local civilian funds to compensate Koreans who won damages in lawsuits against Japanese companies that enslaved them during Tokyo’s 35-year colonial rule of the Korean Peninsula.

The plan reflects conservative President Yoon Suk Yeol’s determination to mend frayed ties with Japan and solidify security cooperation among Seoul, Tokyo and Washington to better cope with North Korea’s nuclear threats.

President Joe Biden hailed the plan as marking a new chapter of cooperation and partnership between two of the United States’ closest allies and said he looked forward to enhancing trilateral ties. Yoon and Japanese Prime Minister Fumio Kishida “are taking a critical step to forge a future for the Korean and Japanese people that is safer, more secure, and more prosperous,” Biden said in a statement.

The plan, however, has drawn immediate backlash from former forced laborers and their supporters, who have demanded direct compensation from the Japanese companies and a fresh apology from the Japanese government.

South Korean Foreign Minister Park Jin told a televised news conference the victims would be compensated through a local foundation that would be funded by civilian donations. He said South Korea and Japan were at a “new window of opportunity” to overcome their past conflicts and build future-oriented relations.

“And I think this is the last opportunity,” Park said. “If we compare it to a glass of water, (I) think that the glass is more than half full with

water. We expect that the glass will be further filled moving forward based on Japan’s sincere response.” Park didn’t elaborate on how the foundation would be financed. But in January, Shim Kyu-sun, chairperson of the Foundation for Victims of Forced Mobilization by Imperial Japan, which would be handling the reparations, said the funds would come from South Korean companies that benefited from a 1965 Seoul-Tokyo treaty that normalized their relations.

The 1965 accord was accompanied by hundreds of millions of dollars in economic aid and loans from Tokyo to Seoul that were used in development projects carried out by major South Korean companies, including POSCO, now a global steel giant.

Ties between the US Asian allies have long been complicated by grievances related to Japan’s brutal rule of the Korean Peninsula from 1910 to 1945, when hundreds of thousands of Koreans were mobilized as forced laborers for Japanese companies or sex slaves at Tokyo’s military-run brothels during World War II.

Their history disputes intensified after South Korea’s Supreme Court in 2018 ordered two Japanese companies—Nippon Steel and Mitsubishi Heavy Industries—to compensate former Korean forced laborers or their bereaved relatives.

Japan, which insists all wartime compensation issues were settled under the 1965 treaty, reacted fu-

riously to the 2018 rulings, placing export controls on chemicals vital to South Korea’s semiconductor industry in 2019, citing the deterioration of bilateral trust.

South Korea, then governed by Yoon’s liberal predecessor Moon Jaein, accused Japan of weaponizing trade and subsequently threatened to terminate a military intelligencesharing agreement with Tokyo, a major symbol of their three-way security cooperation with Washington.

The Seoul-Tokyo feuding complicated US efforts to reinforce its cooperation with its two key Asian allies in the face of confrontations with China and North Korea. Worries about their strained ties have grown in both South Korea and Japan as North Korea last year adopted an escalatory nuclear doctrine and testlaunched more than 70 missiles – the most-ever for a single year. Many of the missiles tested were nuclearcapable weapons that place both countries within striking distance.

Since taking office last May, Yoon has been seeking to improve ties with Japan and strengthen its military alliance with the United States and a trilateral Seoul-Washington-Tokyo security cooperation. Japan has also taken apparent efforts to improve relations, such as its recent pick of a former prime minister known for his close ties with South Korea to head a bilateral parliamentarian group that had been headed by a former Cabinet member.

During a parliamentary session on Monday, Kishida said he stands by Japan’s previous expression of regrets and apologies over its colonial wrongdoing but said whether to withdraw Japan’s export control is a separate issue. He said Japan w ill continue to seek appropriate

response from Seoul on its actions including its complaint filed with the WTO.

When asked about South Korea’s failure to ensure that the Japanese companies participate in the compensation of forced laborers, Park, the foreign minister, said he doesn’t expect Japan’s government to block “voluntary donations” by its civil sector. Japan’s Foreign Minister Yoshimasa Hayashi told reporters that Japan “appreciates” South Korean announcement and that he hopes political, cultural and economic ties between the two countries would deepen from now on.

Former forced laborers, their supporters and liberal opposition lawmakers berated the government plan, calling it a diplomatic surrender. Some activists supporting former forced laborers and their lawyers plan to hold rallies later Monday.

“Basically, the money of South Korean companies would be used to erase the forced laborers’ rights to receivables,” Lim Jae-sung, a lawyer who represented some of the plaintiffs, wrote on Facebook. “This is an absolute win by Japan, which insists it cannot spend 1 yen on the forced labor issue.”

The protests would pose a political blow to Yoon, who has a relatively low approval rating amid an intense domestic conservative-liberal divide.

“This is a big political gambling by Yoon,” said Bong Young-shik, an expert at Seoul’s Yonsei Institute for North Korean Studies. “So to speak, it seems he’ll do it his way as whatever steps his government would propose, there would be backlashes at home. I think he’s decided to reach an agreement to move forward.” Associated Press writer Mari Yamaguchi in Tokyo contributed to this report

SINGAPORE, MALAYSIA, PHL LEAD SUSTAINABLE BUSINESS REPORTING

LEADING Southeast Asian nations, including the Philippines, are emerging as a global leader for sustainable business reporting, with many companies in the region increasingly likely to publicly disclose their impacts.

A recent analysis by accounting firm KPMG revealed that Singapore and Malaysia are among the countries with the highest sustainability reporting rates for large companies at 100 percent and 99 percent, respectively. Leading firms in the Philippines are fast catching up, with a score of 87 percent.

I n all three countries, a majority of the top 100 companies use the Global Reporting Initiative (GRI) Standards for reporting.

As the economies of Southeast Asia continue to grow, it’s crucial that we do all we can to harness and support their sustainability potential. It’s encouraging therefore that, among the larger companies, the commitment to sustainability reporting is so widespread,” Eelco van der Enden, GRI’s chief executive said.

I see ASEAN (Association of Southeast Asian Nation) as having a key role in the broader sustainable development agenda, and look forward to engaging

with companies, financial institutions and capital markets in Singapore, Malaysia and the Philippines. I believe there are many opportunities for GRI to deepen our collaboration with stakeholders throughout the region,” he said.

Van Der Enden will be in Manila next week in Ateneo de Manila University and at the Securities and Exchange Commission for his lecture series.

H e will also have high-level meetings in the region, including those with the Monetary Authority of Singapore, the Singapore Accounting and Corporate Regulatory Authority, the Malaysian Ministry of International Trade and Industry, Malaysia Institute of Accountants, Capital Markets Malaysia, Bursa Malaysia, InvestKL, Bangko Sentral ng Pilipinas, and the Asian Development Bank.

GRI’s focus on Southeast Asia recognizes its significance as an economic force, with 2022 seeing ASEAN countries among those with the fastest growth, according to ADB’s projections. A research published by GRI last year said that while 70 percent of listed companies reported on climate, gaps exist when it comes to disclosing risks and targets VG Cabuag

E-Governance bill gets House 3rd reading okay

FOR faster and improved delivery of services to the public, the House of Representatives on Monday approved on third and final reading a Marcos administration’s priority bill that institutionalizes the government’s shift to E-Governance.

W ith 304 affirmative votes and 4 negative votes, lawmakers approved House Bill 7327 or “An Act institutionalizing the transition of the government to E-Governance in the digital age, creating for the purpose the Philippine Infostructure Corp. and appropriating funds therefor.”

Speaker Ferdinand Martin G. Romualdez, the principal author of the proposed law, said the measure aims to make government services accessible to the people.

The bill would make it easier for people to transact with and avail themselves of services from the government through digital platforms. It would make the delivery of services more effective, efficient, and transparent,”  Romualdez added.

HB No. 7327 is a consolidation of 21 related measures, including the first proposed E-Governance law filed in the House, HB No. 3, authored by the Speaker. His coauthors are Senior Deputy Majority Leader and Ilocos Norte Rep. Ferdinand Alexander A. Marcos, and Tingog Party-list Reps. Yedda Marie K. Romualdez and Jude Acidre.

T he bill seeks to adopt “a policy to create, foster and sustain a digitally empowered and integrated government that provides secure, responsible and transparent citizen-centered services and harnesses the potential of open data for promoting economic growth and a globally competitive Filipino nation.”

A mong other objectives, it would “promote the use of the internet, information and communications technology (ICT) and emerging technologies within and across government agencies to provide citizen-centric government information and services, and improve the public trust and citizen participation in the government.”

It would also encourage interagency collaboration in the delivery of services and in the use of ICT to enhance the efficiency and effectiveness of processes.

It shall cover all executive, legislative, judicial, and constitutional offices, including local government units, state universities and colleges, governmentowned or -controlled corporations, and similar state instrumentalities located in the country or abroad.

It would likewise apply to “backend government operations, within,

RBH 6 for Con-con gets final approval of House

By Jovee Marie N. dela Cruz @joveemarie

WITH supermajority votes of 301, the House of Representatives on Monday approved on third and final reading Resolution of Both Houses (RBH) 6 calling for a constitutional convention (Con-con) to propose amendments to the 1987 Constitution of the Philippines.

Speaker Martin Romualdez said that investment reform by way of tweaking the Constitution’s economic provisions could be the “final piece in the puzzle” of improving the country’s economic and investment environment.

He said the lower chamber aims to limit its Charter-rewriting initiative to the “restrictive” economic provisions of the basic law “in the hope that the changes would pave the way for the country to attract more foreign investments.”

“ We need additional investments that would create more job and income opportunities for our

between, and across agencies, government-to-government transactions, particularly those involving sharing and processing of data and information between and among government agencies for policy, planning and decision-making purposes, and other government operations.”

T he bill defines E-Governance as the “application of ICT in establishing interaction between the different levels of government, business and the citizenry.”

It also involves the implementation of internal government operations meant to simplify and improve both the democratic and business aspects of government,” the measure stated.

E -Government refers to the use of ICT by the government to enhance access to and delivery of services to bring about efficient, responsive, ethical, accountable, and transparent government.

T he bill designates the Department of Information and Communications Technology (DICT) as the principal implementer of the proposed law. It tasks the DICT to formulate and promote an E-Government Master Plan to serve as the blueprint for the development and enhancement of all electronic government services processes.

A gency heads are mandated to implement the proposed legislation in coordination with the DICT.

Each agency is directed to appoint a chief information officer who shall ensure that ICT systems are developed, implemented, and compliant with DICT standards and relevant laws, including the Data Privacy Act of 2012.

T he proposed law mandates that services needed for business and non-business transactions and documents, including permits, licenses, and clearances, shall be made efficient by integrating all agencies involved into one portal, mobile application, or similar platform.

It directs all agencies, including local governments, to continuously improve their websites and to establish an e-bulletin board for information dissemination.

H B No. 7327 creates the Philippine Infostructure Corp. to manage government ICT assets, including infrastructure, platform, and software.

T he corporation shall have an authorized capital of P5 billion.

T he DICT, in coordination with relevant agencies, shall issue implementing rules and regulations.

T he bill creates a joint congressional oversight committee to oversee the implementation of the proposed law.

Marie

people. We need increased capital to sustain our economic growth momentum,” Romualdez said.

O nly six lawmakers have voted against RHB 6 while one representative abstained.

T he voting was done after at least 300 members of the House of Representatives signified their intention to be coauthors of the resolution during a caucus held an hour before the resumption of the House session on Monday.

T he 300-strong caucus was attended by Romualdez and Senior Deputy Speaker Gloria MacapagalArroyo, along with key House lead -

ers that include Deputy Speakers, Deputy Majority Leaders, Assistant Majority Leaders, and all chairmen of House committees.

“ We now have 300 House Members as co-authors of RBH No. 6, and more are signifying their intention to be coauthors. This means we now have not 2/3 or 3/4 votes, but more than 93 percent of total House membership in solid support of the Con-con proposal,” said Majority Leader Mannix Dalipe said.

“ We are at the cusp of making history today. With this great number, we can now be likened to the 300 Spartans that made a last stand in the Battle of Thermopylae,” said Rep. Rufus Rodriguez, chairman of the House Committee on Constitutional Amendments.

R BH 6 is principally authored by Speaker Romualdez, Majority Leader Dalipe, Rep. Rodriguez, Camarines Sur Rep. LRay Villafuerte and the Kapatiran Party.

T he constitutional amendments panel endorsed RBH No. 6 after conducting public hearings and consultations in Luzon, Visayas and Mindanao.

T hrough the resolution, the House and the Senate resolve to call a con-con “for the purpose of proposing amendments to the eco -

nomic provisions, or revision of, the 1987 Constitution.”

T he resolution notes that among the three modes of proposing amendments to the Charter, the calling of a convention “would be the most transparent, exhaustive, democratic, and least divisive means of implementing constitutional reforms.”

Studies uphold change “EXTENSIVE studies show that particular economic provisions of the 1987 Constitution need to be revisited and recrafted so that the Philippines may become globally competitive and attuned with the changing times,” the resolution stated.

It further notes that such reform has been identified by reputable business and economic groups as a key policy instrument that needs to be implemented, and that these organizations feel that the economic reform by way of constitutional amendments “is now long overdue.”

It likewise cites a petition, filed by Kapatiran Party, for an indirect initiative under Republic Act (RA) No. 6735, otherwise known as the Initiative and Referendum Act, urging the House of Representatives to pass a bill calling for a Con-con.

PHL leads in SEA plastic upcycling facility

THE Philippines has been leading in pioneering new solutions that involve the whole community in becoming plasticneutral, a dairy company official said on Monday.

Globally, Royal FrieslandCampina is very strongly committed to making our packaging recyclable and more circular by 2023,” Corine Tap, senior vice president of Royal FrieslandCampina (RFC) said.

“ This is also important as the Philippines has been leading in pioneering new solutions that involve that whole community in becoming plastic neutral,” she said when asked how the upcycling facility can impact the company’s sustain -

ability goal.

T his environmental initiative is forward-thinking and while it is a small start, it serves as a big inspiration for other companies, especially for the different operating companies of RFC, Tap added.

R FC is a Dutch multinational dairy cooperative based in Amersfoort, the Netherlands.

Tap visited the Multi-Layered Plastic (MLP) Upcycling Facility of Alaska Milk Corp. (AMC) and D&G Pacific Corp. as part of her business review trip in the Philippines.

There is a big opportunity for this multi-layered plastic upcycling facility to be replicated by other operating companies in the Asian

region. To do that, we must look locally at the specific issues because plastic problems differ from country to country. But this is a benchmark for all RFC companies in the region and beyond,” she said.

T he site, she added, should be run and managed optimally to make this venture even more effective.

Since it is relatively new, ideas on optimizing the capacity, processes and flows should be focused on.

“ With the great cooperation we have here from the community and the government, especially with RePurpose Inc. and D&G Pacific, we are sure that we can generate more impact to make this even better in achieving a more circular economy

ultimately a greener future,” Tap added.

T he upcycling facility was inaugurated on February 1 and jumpstarted its commercial production.

T he facility is a first in Southeast Asia, which processes and converts single-use plastics into WoW boards.

A MC and D&G have formally opened their P45-million MLP.

T he inauguration of the facility signaled the start of the venture’s commercial operations, which involve the processing and recycling of single-use plastics into boards. The boards, in turn, can be used in furniture production or as construction materials. Raadee S. Sausa

FROM THE WAR ROOM Live feed of the traffic situation from major streets in the metropolis are seen at the Metropolitan Manila Development Authority’s headquarters as the transport strike gets under way on Monday, March 6, 2023. The MMDA said its regionwide monitoring showed the strike had minimal impact on public transport.

Editor: Jennifer A. Ng

Companies

Tuesday, March 7, 2023

ICTSI sets $400-M capex for expansion of terminals

By Lorenz S. Marasigan @lorenzmarasigan

lion it recorded the year prior. The growth in profits is attributable to the strong port operation in 2022, which resulted in a 20-percent increase in revenues to $2.24 billion from $1.87 billion.

in a year marked by geopolitical unrest and inflationary pressures, we took clear and robust actions to focus on our cost initiatives and implemented a selective and disciplined capex program which has pleasingly created value for our stakeholders,” iC Tsi Chairman and President enr ique K. r a zon, Jr. said.

in a disclosure to the stock exchange, iC Tsi said the amount will be used to expand its terminals in australia, Mexico, Philippines, and the Democratic republic of Congo.

The amount will also be used for the second tranche of concession extension-related expenditures in Madagascar, the yard expansion

in nigeria, the quay expansion in Brazil, the development of a newly acquired terminal in east Java in indonesia, and equipment acquisitions and upgrades as well as maintenance requirements.

iC Tsi booked $618.46 million in net income in 2022, a 44-percent increase from the $428.57 mil-

“While the weaker economic backdrop continues, our business fundamentals remain constructive and we remain strongly positioned to deliver sustainable growth. i would like to thank colleagues across the Group who have worked hard to deliver an excellent year of results during a choppy year and the strength of our

financial and operational results is testament to their hard work and commitment.”

The global port operator handled consolidated volume of 12,216,190 twenty-foot equivalent units (TeUs) in 2022, nine percent more than the 11,163,473 T eUs handled in the same period in 2021.

The company announced over the weekend that it is adding another berth to the Manila international Container Terminal (MiC T).

Berth 8, currently under phase two development, has a design depth of 15 meters that will allow the terminal to handle “ultra large container vessels” with capacities of up to 18,000 twenty-foot equivalent units (T eUs).

Currently, MiCT is capable of handling neo-Panamax ships through Berths 6 and 7, which are operated by five quay cranes.

Petron net income hits ₧6.7B in 2022

By Lenie Lectura @llectura

Pe T rOn Corp.’s net income last year rose by 9 percent to P6.7 billion from P6.1 billion posted in 2021 brought about by stronger sales.

sa les volume from its local and international operations increased for the second straight year to 112.81 million barrels, up 37 percent from last year’s 82.24 million barrels. in t he Philippines, the company sold 68.53 million barrels, higher than 2021’s 47.9 million barrels.

service station volumes in the Philippines and Malaysia posted a 26-percent growth as Petron’s gasoline and diesel products remained in high demand; while combined commercial sales grew by 30 percent fueled by the continued recovery of the industrial and aviation sectors. notable increases were recorded in the company’s sales of jet fuel, lPG, and in particular, polypropylene products with the resumption of Petron’s polypropylene production in 2022.

The price of crude continued its downturn in the second half of 2022 due to global inflationary and recession fears as well as demand slowdown in China due to its zero Covid tolerance policy. From $113 per barrel (bbl) in June, Dubai crude dropped by 32 percent to $77/bbl by end-December. Despite this, prices in 2022 remained elevated compared to 2021. Dubai crude averaged $96/

bbl in 2022, nearly 40 percent higher compared to last year’s average of $69/bbl.

Petron’s operating income for 2022 closed at P19.21 billion, surpassing the previous year’s P17.21 billion by 12 percent.

“We’ve been consistent in our recovery, with our profits already at pre-pandemic levels over the past two years. We continue to note an

increased and growing demand for our products even as we contend with pricing challenges, heavy competition, and the lingering effects of the pandemic.

With our full recovery within our reach, we’ve returned our focus on growing the business and beefing up our operational framework to ensure our continued success and sustainability,” said Petron President r amon s a ng.

Petron is set to build and operate its own coco-methyl ester (CMe) plant, another landmark development that will allow the company to produce its own CMe T he CMe plant will eliminate dependence on third-party suppliers and provide higher margins for diesel.

Both projects are aligned with Petron’s long-term vision to increase its resilience and further cut down its environmental impact. The company similarly followed through with its retail expansion program and logistics master plan in anticipation of future demand.

B1

Universal Robina profit up 12%

By VG Cabuag @villygc

Universal

r o bina

Corp.

(UrC), the food unit of the Gokongwei Group, on Monday said its net income from continuing operations in 2022 grew 12 percent year-on-year to P14.5 billion on higher sales.

The company said sales for the year reached P149.9 billion, up 28 percent from P116.96 billion recorded in 2021. sa les in the fourth quarter grew 35 percent year-on-year, as the strong reopening momentum from economies around the region was sustained into the end of 2022, it added.

UrC said its operating income for the full year reached P15.2 billion, up by 20 percent versus last year. absolute profit growth was driven by strong topline volumes, coupled with programmed price increases, and cost savings initiatives executed throughout the year.

“We have closed out the year strong, turning in a record performance across all our business units, and surging well above prepandemic levels. The structural work we have done over the last few years has allowed us to capitalize on the growth opportunities from the reopening of the economy in 2022,” i r win l e e, U rC president and C e O, said.

“We will continue to execute our plans to keep our margin recovery on track. We remain confident that

The Department of Trade and i n dustry (DT i ) has inked an agreement with s a n Miguel Yamamura Packaging Corp. (sM YPC) which aims to improve the packaging of the local products and to provide “costefficient” packaging solutions to micro, small, and medium enterprises (M sM e s).

a c cording to the DT i the Bureau of s m all and Medium e nt erprise Development (B s M e D) f acilitated the signing of the Memorandum of a g reement (MO a ) between the agency and s M YPC, the packaging business of s a n Miguel Corp. ( s M C).

Under the agreement, DT i and s M YPC plan to conduct roadshows nationwide to introduce “appropriate” packaging solutions

the strength of our portfolio of ‘Products and Brands that People l ove’ will continue to drive growth into 2023 and beyond, as we stay true to our purpose of providing good food choices for consumers.”

UrC ’s main revenue generator— the branded consumer foods from domestic and international branded consumer foods, excluding packaging—continued to accelerate, with sales for the year reaching P105.9 billion for 2022, up 29 percent from the same period last year.

sa les from the Philippines ended the year with P73.6 billion, increasing by 23 percent from the previous year, while international business units, including Munchy’s grew 46 percent to P32.3 billion. The core international business, excluding Munchy’s, grew 17 percent, with all manufacturing businesses growing significantly as economies around the region reopened postpandemic.

sa les of the company’s agro-industrial and commodities divisions grew by 26 percent to end at P42.1 billion, driven by the strong sales of feeds, with both the core animal feeds and the pet foods businesses performing well. The commodities group of flour, sugar and renewables also grew sales due to higher selling prices but saw double-digit declines in volumes due to supply challenges brought about by the global wheat market volatility, more severe typhoon impacts and lower milling outputs.

to the M s M e s through the small merchants’ network of authorized distributors.

The agency said this initiative will allow s a n Miguel’s packaging business to “better appreciate” and understand the packaging needs of the M sM e s. With this, DT i said the company can propose innovations “beneficial” to the target sectors.

Under the signed agreement, DT i said it will work together with s M YPC to “empower” the M s M e s through training and education, coaching and mentoring and other innovative and developmental interventions that would upgrade, upskill and even upsize the M s M e s

The project of DT i and s a n Miguel’s unit is set to begin this year. Andrea E. San

Juan

InternatIonal Container terminal Services Inc. (ICtSI) is increasing its capital expenditures (capex) to $400 million this year from $386.35 million the year prior, as it continues to expand its terminals around the world.

BSP doubles allowed contributions to Pera

By Cai U. Ordinario @caiordinario

On Monday, the BSP disclosed it has approved the increase in annual Pera contributions for employed and self-employed Filipinos as well as

overseas Filipino workers (OFWs). Filipinos working here can now invest as much as P200,000 annually from the P100,000 initially allowed

Conquering fear through education

FEAR is an emotion induced by a perceived threat, which causes entities to quickly pull far away from it and usually hide (Lang, P. J., Davis, M., & Öhman, A). It is a basic survival mechanism occurring in response to a specific stimulus, such as pain or the threat of danger. In short, fear is the ability to recognize danger leading to an urge to confront it or flee from it.

People have different kinds of fear. Examples are fear of darkness, noise, heights, pain, etc. The worst kind of fear is the fear of the unknown. People always tend to worry over things that have not yet happened to the point that they seem to be paralyzed and will do nothing as if in shock. Fear can then be defined as “False Expectation Appearing Real.”

One area where people usually have fear is the fear of investing.

Almost all of the time when I talk to people about investing, I always get similar responses. They always say they are afraid to invest because they might lose their hard-earned money. They prefer to keep their money in the bank where it is much safer. They are not aware that the same fear they possessed will just cause them to realize more losses.

A good antidote to fear is education: the right education. Without it, a person does not have the tool to make the right decision.

The right education can equip an individual to investigate and evaluate his current situation and where he wants to be in the future. The right education will expose him to the different approaches and instruments on solving his problem. If a person is literate, he will never need to be afraid. Instead of saying investing is risky, he will ask “how can I reach my goal?”

Actually, it is more expensive to be uneducated than to pay and be informed. Educated people can spot opportunities and make a sound decision based on logic and not on emotion.

In our current education system, students are taught the skills that are needed to become good employees. They are also taught to study well to minimize failures. This is in fact a way to teach students to be afraid of failure.

It must be noted that failures are just stepping stone to success. During a

by BSP. OFWs, meanwhile, can invest up to P400,000 a year from the initial P200,000 annually.

“The increase in the limits provides our kababayans [compatriots] with greater opportunities to ensure their financial security. It also supports the government’s broader thrust of mobilizing individual savings for capital market development and generating funds for long-term projects,” BSP Governor Felipe M. Medalla was quoted in a statement as saying.

Aside from increasing the Pera contribution limits, the BSP has also removed the basic security deposit for the faithful performance of a Pera Administrator’s duties, which

was previously set at 0.5 percent of the book value of Pera assets.

The move is expected to lower the cost of administering Pera assets, which may impact contributors through lower charges on Pera.

The BSP sees this as a means to encourage more BSP-supervised financial institutions to participate in the PERA ecosystem.

Pursuant to Republic Act 9505 (Pera Act of 2008), Finance Secretary Benjamin E. Diokno approved the increase in allowable yearly Pera contributions effective immediately starting 2023 upon the recommendation of the PERA Inter-Agency Board.

The board is composed of the

Bangko Sentral ng Pilipinas (BSP) as the lead agency, the Securities and Exchange Commission, the Insurance Commission and the Bureau of Internal Revenue.

Launched by the BSP in 2016, the Pera is a voluntary retirement savings program that supplements state-based pension plans and employer- sponsored retirement plans.

Last month, the BSP disclosed that the increase in the level of contributions to the Pera was at its slowest in the past five years.

The number of contributions to the voluntary savings program increased by only 16 percent to 5,100 in 2022 from 4,382 in 2021. This is

the slowest increase since the central bank started collecting Pera data in 2017.

The fastest growth in the number of contributions to Pera, a pool that aims to supplement retirement funds, was recorded in 2020 when there was a 92.435-percent increase in contributions to 2,671 from 1,388 in 2019.

Last year, the bulk of the Pera contributors or 3,594 were employees while 785 were self-employed and 721 were OFWs.

The BSP said, however, that Pera contributions reached P329.55 million at end-2022, a 30-percent increase from the P253.35 million recorded a year earlier.

BTr raises only 64.7% of target ₧15B from T-bill sale

DESPITE oversubscribed, the national government only raised P9.7 billion at the auction of Treasury Bills (T-Bills) on Monday, according to the Bureau of the Treasury (BTr).

seminar I attended, I learned from the speaker that there was once a survey on what happened to a certain batch of graduates. I was surprised to hear that Class A students (even belonging to the honor group) lagged behind the Class B students in the real world.

Apparently, those in Class A seem to fear failure as compared to the other. I had seen successful people who were Class B students in my high school years as compared to the cream section, where some are still employees who make their employers richer.

What the current educational system lacks today is the inclusion of financial education in the current curriculum.

There is truth to what Robert Kiyosaki said: “Investing is like driving a car. If you have no driver’s education or driving experience, driving a car is very very risky. Get educated.” With proper education and experience, one is certain to conquer his fear and test the waters. For if one does not make calculated risk and act on the information, how can he know the result?

Instead of letting fear get in the way, let fear be your strength. Use your fear to your advantage. In that way you conquer your fear. If you fear investment, use your fear of loss as a motivation to learn how to win and minimize losses. The definition of fear will then become Face Everything And Rise. Let me end this article by quoting the Bible on a right kind of fear: “The fear of the Lord is the beginning of knowledge; but fools despise wisdom and instruction.” (Proverbs 1:7 )

Edmund Lao is a registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 100th RFP program this March 2023. To inquire, e-mail info@rfp.ph or text <name><e-mail> <RFP> at 0917-6248110.

Crypto fugitive’s company under probe by SG police

SINGAPORE police said they have begun a probe linked to Terraform Labs Pte, the company co-founded by crypto fugitive Do Kwon. In an e-mailed statement on Monday, the force said “investigations have commenced in relation to Terraform Labs” and added the inquiries are “ongoing.” It also said Kwon isn’t currently in the city state. Terraform Labs didn’t immediately reply to a request for comment.

The US Securities & Exchange Commission (SEC) last month accused Kwon and Terraform Labs of fraud. Kwon also faces charges in his native South Korea over the $60 billion wipeout of digital assets that he created. The 31-year-old developed the TerraUSD stablecoin, which was meant to have a constant $1 value via a mix of algorithms and trader incentives involving a sister token, Luna.

This only represented 64.7 percent of the P15 billion it intended to raise from the 91-day, 182-day and 364-day securities. The Auction Committee made a full award for the 364-day Tbills but only made a partial award for the 91-day and 182-day notes.

“The auction was 1.3 times over-

subscribed, attracting P20.1 billion in total tenders. With its decision, the committee raised P9.7 billion of the P15 billion offering,” BTr said.

The BTr data showed the government raised P5 billion from the 364day T-Bills. The securities fetched a 5.707 percent interest rate. A total of P8.157 billion tenders were received for the offer and the Auction Committee rejected a total of P3.157 billion.

For the 91-day T-Bills, the Committee accepted P2.455 billion worth

of tenders at an average annual interest rate of 4.586 percent.

The government received a total of P5.172 billion tenders for the notes and rejected P2.717 billion.

In terms of the 182-day T-Bills, the BTr said the Auction Committee accepted P2.25 billion worth of offers for the security at an average annual rate of 5.378 percent.

The government received total tenders of P6.8 billion for the T-Bills and ended rejecting P4.55 billion of these tenders.

Last week, the national government also failed to raise P15 billion from the sale of T-bills as some investors sought higher than secondary market yields.

The BTr said it was only able to borrow P10 billion from the domestic market during its T-bills auction that ended mixed last week.

The Treasury’s auction committee did not award a single 91-day T-bill while making full awards on both the 182-day and 364-day tenors of the government security. Cai U. Ordinario

Lower House endorses bill to refund VAT for

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representatives

on Monday endorsed for Senate approval a bill creating a value-added tax (VAT) refund mechanism for non-resident tourists.

This, after lawmakers—voting 304 affirmative and 4 negative— approved on third and final reading House Bill (HB) 7292 to expand the country’s competitiveness in tourism vis-à-vis its peers in the regions.

The bill seeks to allow foreign tourists to claim a VAT refund on purchased goods worth at least P3,000 per transaction from accredited retailers. The measure also entitles tourists to claim VAT refund through service providers on goods purchased.

The bill, however, provides that

goods must be taken out of the country within 60 days from the date of purchase.

HB 7292 also seeks to empower the secretary of the Department of Finance to adjust the threshold, taking into account administration costs in process refunds, consumer price index and other market conditions, upon the recommendation of the Tourism Secretary and the chief of the Bureau of Internal Revenue.

The bill defines tourist as a foreign pass holder who is a non-resident individual not engaged in trade or business in the Philippines,

The principal author of the bill, House Committee on Ways and Means Chairman Joey Sarte Salceda, said this proposal was already approved in principle by President Ferdinand R. Marcos Jr. when it was

tourists

brought up by the Private Sector Advisory Council.

Captured audience

SALCEDA said he expects between P10 billion to 40 billion in increased sales from local suppliers for the first year of the implementation of the provision in the bill, if it’s enacted into law.

“That has the same nature, consequence and character as exports,” the lawmaker added. “And we don’t even have to compete with other exporters: the audience is already captured.”

The proposal added a new Section to the National Internal Revenue Code, which allows outbound tourists to refund goods to be taken out of the country, with a per transaction value of at least P3,000 (nearly $55 at current exchange rates). These

goods must be purchased from accredited suppliers.

“A VAT refund, as global studies show, increases the propensity to spend. Generally, for every P1 refunded, the tourist spends an additional P1.50,” Salceda said. “That will create an additional 20,000 to 80,000 jobs and will also improve our gross international reserves.”

The Philippines recorded 2.65 million (2.02 million foreign tourists and 628,445 Filipinos overseas) visitors from February to December 2022.

This figure is higher than the 2021 tourist arrivals of 163,879 but still significantly lower than the prepandemic level of 8.26 million.

This year, the Department of Tourism targets to welcome 4.8 million visitors, which could generate P2.58 trillion in revenue.

Pagcor gives cash incentives to PHL team to Turkey

THE Philippine Amusement and Gaming Corp. (Pagcor) announced it turned over a total of P4.1 million in cash incentives to the 82 members of the Philippine Inter-Agency Humanitarian Contingent to Turkey.

The edifice blew up in May 2022, exacerbating a crypto-market rout and contributing to the downfall of a range of digital-asset outfits.

Kwon’s whereabouts became unclear after South Korea issued a warrant for his arrest and he exited Singapore, where Terraform Labs had a base. South Korea has said Kwon, who has previously denied wrongdoing, is the subject of an Interpol red notice.

The US SEC in its lawsuit also said that Kwon and Terraform Labs transferred over 10,000 Bitcoin out of their doomed project and turned some of the tokens into cash via a Swiss bank.

Kwon used to be active on Twitter — at one point last year he poked fun at the saga surrounding him, trolling the “cops” and posting a picture of a gun with the words “pew pew.”

He hasn’t tweeted since February 1.

Each member of the contingent will receive a P50,000 (around $908.13 at current exchange rates) cash incentive from Pagcor. The contingent consists of volunteers from different agencies including the following: Department of Health (DOH); Philippine Army (PA); Philippine Air Force (PAF); Metro Manila Development Authority (MMDA); Subic Bay Metropolitan Authority (SBMA); and, the Office of Civil Defense (OCD).

“Before the volunteers returned to the Philippines last February 28, Pagcor Chairman and CEO Alejandro H. Tengco committed to give incentives to them as tokens of appreciation for their selfless acts,” Pagcor Assistant Vice President (AVP) for Community Relations and Services Eric I. Balcos was quoted in a statement as saying. “They sacrificed themselves to help and were able to conquer the challenges including bearing the extreme weather conditions. It was a huge task, but they all did it and made the whole country proud.”

The ceremonial turnover of check was held during the welcome ceremony and recognition of the volunteers at Camp General Emilio Aguinaldo in

Quezon City last Monday. Aside from Balcos, the following officials attended the event: Department of National Defense Officer-in-Charge (OIC) Senior Undersecretary Carlito G. Galvez

Jr.; DOH OIC and Undersecretary Maria Rosario Clarissa S. Vergeire; OCD Administrator Undersecretary Ariel F. Nepomuceno; MMDA Chairman Romando S. Artes; AFP Chief of Staff

Gen. Andres C. Centino; and, Pagcor AVP for Corporate Communications Carmelita V. Valdez.

Full volunteerism

THE Philippine response team was sent to Turkey last February 8 to help the victims of the devastating magnitude 7.8 earthquake that hit the country and the northern border of Syria last February 6.

During their 2-week deployment, the team was able to serve 1,022 patients and help recover bodies of six earthquake victims. They were also able to help assess 36 buildings in Turkey, according to Galvez. They also distributed blankets, bonnets and gloves to the victims.

Expressing gratitude, DOH Chief of Medical and Professional Staff Alfonso C. Danac said none of the volunteers, which included him, expected the cash incentive from Pagcor.

“We were deployed in full volunteerism. Malaking bagay ito dahil yung iba sa amin ay mababa lang ang salary grade [This is a big deal because the rest of us have a low salary grade] but they willingly volunteered,” the physician added.

Danac said the DOH team did not just render medical services in Turkey but also served as cooks, electricians, plumbers and cleaners as well as performed administrative work, among others.

Our team is “based on self-sufficiency,” he added.

FILIPINOS here and abroad can now invest more annually for their retirement through the Personal Equity and Retirement Account (Pera), according to the Bangko Sentral ng Pilipinas (BSP).

This Monday, March 6, 2023 photo, shows some of the 82 members of the Philippine inter-Agency humanitarian Contingent to Turkey who were recognized during the welcome ceremony and recognition hosted by the National Disaster Risk Reduction and Management Council at the Camp General Emilio Aguinaldo in Quezon City. Each of them will receive P50,000 cash incentive from the Philippine Amusement and Gaming

Mindanaoan artists, cultural formators unite in ‘Panaghiusa’ art fest, forum

ADVOCATES of Indigenous Peoples (IP)Moro culture converged at the recent Panaghiusa (unity/oneness): Indigenous Peoples-Moro Arts Fest and Forum in Koronadal City.

Mounted by the Cultural Center of the Philippines, through its Cultural Exchange Department and the Ramon Magsaysay Memorial Colleges Marbel Inc., Panaghiusa amplified voices and shared experiences through exchanges of ideas and knowledge, performances and interactions. The idea was to enable settlers understand and appreciate IP-Moro’s right to self-determination and sovereignty.

Datu Victorino Saway of the Talaandig community, Nestor Horfilla of Davao City and other prominent leaders of various cultural communities and organizations spearheaded the open discussions and strategic planning on priority concerns of the IPs and Moros. The talks covered a broad range of topics, including food security, women leadership, disaster risk reduction, resiliency building, and cultural appropriation, among other activities. The featured activities were aptly titled as Kastulen SEE “PANAGHIUSA,” B5

BY STEPHANIE NICHOLE HO

THERE’S no love greater than a mother has for her child, as proven by Catherine Cham, owner of the Vico’s Artism Gallery.

“We are raising awareness about autism and this is because of my son who has autism but is very gifted,” Cham told BUSINESSMIRROR at the Eastwood Mall Atrium, where the artworks of her son Victor Francesco “Vico” Cham and other children were displayed during a three-day exhibit that ended last February 26.

According to Cham, they decided to establish a gallery for Vico “because we know that this will be one of his future sources of income.”

“You know [that] PWDs [persons with disabilities] especially, there is no definite future in corporate.”

INCLUSION

INITIALLY, Cham envisioned that the gallery would be Vico’s studio where he has a table to draw and do his paintings. However, she said they decided to make the gallery open to help, develop and train young artists with autism to unleash their potential.

“Can you imagine that they can sell their artworks? That they can make a name

TODAY’S

HOROSCOPE

By Eugenia Last

CELEBRITIES BORN ON THIS

DAY: Giselle Eisenberg, 16; Jenna Fischer, 49; Rachel Weisz, 53; Bryan Cranston, 67.

HAPPY BIRTHDAY: Zigzag your way to victory. Be prepared to act, make changes and do things your way. Your fate rides on your ability to reach your target on time. You’ll have to spread yourself thin to accommodate what’s going on in your personal and professional life. Don’t mix business with pleasure or neglect one for the other. Balance and completion are the keys to your success. Your numbers are 7, 13, 24, 29, 32, 37, 44.

ARIES (March 21-April 19): Slow down, figure out the best way to maintain what you have worked so hard to achieve and don’t let anyone come between you and your goal. Having tunnel vision and targeting your skills to get things done on time will pay off. ★★★

TAURUS (April 20-May 20): Use your experience and know-how to gain insight into bringing about positive change for yourself, someone you love or a cause that concerns you. Call on people who are charitable and have the aptitude required to help. ★★★★★

GEMINI (May 21-June 20): Distance yourself from anyone trying to persuade you. Put your money, time and effort into personal gain, selfimprovement, and being and doing the best you can. Keep any changes you make a secret until you are ready to present.

★★

CANCER (June 21-July 22): Take the initiative to rearrange your space to suit your needs. Having a designated area to explore possibilities will lead to a window of opportunity. A joint venture will tempt you, but first, do your due diligence and consider working alone. ★★★

LEO (July 23-Aug. 22): Don’t let what others do confuse you or make you feel that you must follow their lead. Romantic opportunities are apparent but may interfere with prior obligations. Rethink your situation and legal concerns before taking a risk that can jeopardize your reputation or position.

★★★

VIRGO (Aug. 23-Sept. 22): Ignoring situations you must address will worsen matters. Step up, say what’s on your mind and implement whatever change is necessary to avoid discord and promote the things you enjoy doing most. Pick up information and skills that offer personal growth.

★★★

LIBRA (Sept. 23-Oct. 22): Get into the swing of things and look for opportunities to expand your circle of friends. Taking a day trip, visiting a friend or relative, or learning something that will contribute to your physical well-being or encourage professional gain is within reach. ★★★

for themselves? That’s what I say to other parents: Why not make them more famous than you? Just allow them to express themselves. Allow them to show what they can do. And let other people appreciate it. If the child has a talent or a gift, share it with the world,” Cham told BUSINESSMIRROR

“Allow them to be them to be what they are and do what they want to do. And you will see this through their paintings,” she added. Cham said the gallery is working on inclusion of people with the autism spectrum disorder (PASD) into the art world. She believes that PASD are gifted “and they have what it takes to be part of this world” of artists.

ABILITY, NOT DISABILITY

THE US Centers for Disease Control and Prevention (CDC) web site defines the autism spectrum disorder (ASD) as “a developmental disability caused by differences in the brain.” The CDC continues: “People with ASD often have problems with social communication and interaction, and restricted or repetitive behaviors or interests. [They] may also have different ways of learning, moving or paying attention.”

Cham said Vico was diagnosed with ASD

when he was two years old. She dubbed the gallery with the portmanteau of “art” and “autism” and, thus, “Artism.”

“The artists are in the spectrum, which means they are autistic. But look at their works, they are beautiful,” Cham told BUSINESSMIRROR. “We prefer that you see their abilities than their disabilities.”

Aside from Vico, the artworks exhibited by the Vico’s Artism Gallery at the mall included a dozen other PASD.

“If I can do it, you can do it!” Vico said. Cham expressed gratitude to executives behind the Eastwood Mall for giving them the opportunity to celebrate Arts Month through the Vico’s Artism Gallery exhibit.

“Now that it is past the pandemic period, this is our first face-to-face art exhibit for Vico’s Artism Gallery [after the continuous virtual exhibit],” she said. “That’s why we are so excited. We are so thankful to Eastwood for choosing us, and we are really flattered to hold our face-to-face art exhibit.”

RIGHT GROUP MEGAWORLD Lifestyle Mall Inc. Deputy General Manager Ritchie G. Pascual told BUSINESSMIRROR the company is “very aware there are situations where members of the autistic community are misunderstood

as they cannot communicate in our usual language.”

“So when we thought of Vico and learned how he was able to express what he thinks and feels through art, we thought this is the right organization or group to tap,” Pascual added. She said they are one with the goal of Vico’s Artism Gallery, which is to understand the community of PASD.

According to Pascual, they have been tapping partners and giving them the platform to showcase talents.

She said the firm, a subsidiary of Megaworld Corp., is a strong believer and supporter of Filipino talents and they make sure that they make the most out of every opportunity to showcase the artist and bring them closer to the public.

“It’s going to be beneficial either way. If the people are able to appreciate that, at the end of the day they would go around (the mall), they will dine, they will watch a movie after visiting the art exhibit and then they will shop afterwards,” Pascual said. “So, it’s really win-win situation.”

“But on our end, it’s the other way around. We see to it that our organic community would be able to give them the support that they need. It’s more of them,” she added.

SCORPIO (Oct. 23-Nov. 21): Put your best foot forward and show everyone what you offer. Don’t give in to someone trying to monopolize your time or spend your money. Say no to bad behavior and poor influences. ★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Stick close to home and the people you love. Refuse to let an outsider influence your beliefs or tempt you with something that may not be valid. Trust and invest in yourself, not someone trying to talk you out of your cash. ★★

CAPRICORN (Dec. 22-Jan. 19): Find an outlet for your energy, talent and skills, and you’ll find happiness and bring in additional cash. A domestic change will lower your overhead, add to your comfort and ease stress. ★★★★★

AQUARIUS (Jan. 20-Feb. 18): Adjust to your surroundings and situations and prepare to make concessions that will help others feel at ease regarding prospects. Don’t give up on love or someone you no longer see. Reach out, reconnect and discuss your intentions and feelings. ★★★

PISCES (Feb. 19-March 20): Nothing appears stable, but that can work in your favor if you sidestep controversy and work behind the scenes to get things done on time. Showing confidence will result in support and hands-on help.

BIRTHDAY BABY:

You are adventuresome, innovative and charitable. You are imaginative and social.

The

Crossword/Edited by David Steinberg

‘counter culture’ BY SAM KOPERWAS AND JEFF CHEN

Mom showcases artistic talent of kids with autism

GMA shows now available for widescreen viewing

GMA Network now makes all its shows here and abroad available in widescreen format, the rollout beginning on February 27. Flat-screen TV viewers can enjoy their favorite programs in a wider scope in terms of what can be seen onscreen.

The 16:9 widescreen format will be made available on GMA and GTV, as well as on digital channels Heart of Asia, Hallypop, I Heart Movies, and Pinoy Hits. Viewers abroad can have the same viewing experience via GMA international channels GMA Pinoy TV, GMA Life TV, and GMA News TV.

“Recognizing that a majority of TV homes in the country have already shifted to wider flat-screen TVs from the traditional box type, and more importantly that our viewers deserve the best that we can offer, GMA now provides its viewers with a true widescreen viewing experience for all its TV channels. The 16:9 widescreen format allows content creators of GMA to provide better storytelling which translates to a more immersive viewing experience for our audiences. Through a higher spatial resolution, there is more freedom in composition and visual expression,” shares GMA Network first vice president and head of post production Paul Ticzon.

“GMA Network budgeted over P139 million in capital expenditure for the acquisition of attendant electronics equipment that facilitate the 16:9 widescreen format delivery through our existing analog and digital terrestrial broadcast network nationwide, as well as re-distribution partners here and abroad.  The 16:9 widescreen format can display 33 percent more distinct picture information than what we are used to seeing with the traditional screen format.  We have chosen to utilize the full height anamorphic process or FHA to make this possible,” adds GMA Network senior vice president and head of engineering group Elvis Ancheta.

From sun up to sun down—whether it’s news, entertainment, or sports—GMA gives TV audience an enhanced viewing experience with this latest format. The widescreen format further complements the network’s cutting-edge shows, such as the flagship newscast 24 Oras, the award-winning public affairs program Kapuso Mo, Jessica Soho, the action-packed National Collegiate Athletic Association (NCAA) games, the new prime-time program Mga Lihim ni Urduja, and the highly anticipated upcoming series Voltes V: Legacy, among others.

More information is available at www.gmanetwork. com.

Show BusinessMirror

A box office K.O.: ‘Creed III’ debuts to $58.7M

By Lindsey Bahr The

Associated Press

CREED III punched above its weight at the domestic box office in its first weekend in theaters. The MGM release knocked AntMan and the Wasp: Quantumania out of first place and far surpassed both industry expectations and the opening weekends of the first two movies in the franchise.

Playing in 4,007 locations in North America, Creed III earned an estimated $58.7 million in ticket sales, according to studio estimates on Sunday. Going into the weekend, analysts expected the film to open in the $30 million range. The first Creed debuted to $29 million in 2015 and Creed II opened to $35 million in 2018.

Michael B. Jordan made his directorial debut with Creed III, which pits his character Adonis against a childhood friend, Dame, played by Jonathan Majors. It’s the first in the Rocky/Creed films to not feature Sylvester Stallone, who chose not to return because of creative differences.

“This is beyond all of our expectations. And we knew that we had something special—we tested the movie and it tested great, but the public responded so resoundingly to it,” said Erik Lomis, MGM’s head of distribution. “Everything went right here starting with the movie itself...It was just up to us not to break it when they gave it to us and we didn’t.”

Strong reviews helped Creed III, which is currently sitting at an 87 percent on Rotten Tomatoes, while audiences gave it an “A-” CinemaScore. The audience was largely male (63 percent), diverse (36 percent Black, 28 percent Latino, 23 percent white and 13 percent Asian/other) and young (55 percent between 18 and 34) according to exit polls.

Over 80 percent of general audiences said the film was a “definite recommend.” With Black audiences, that number ballooned to 89 percent.

“I’ve been doing this a long time and that’s rarefied air,” Lomis said. “People love the movie.”

It’s also the most expensive Creed film, with a reported production budget of $75 million, compared to the others which cost $35 million and $50 million. Internationally, Creed III earned $41.8 million from 75 markets, making its global debut $100.4 million.

It’s a big moment for Amazon, who acquired MGM for $8.5 billion last year, and could have simply released Creed III on its streaming service with a limited theatrical run. But they chose theatrical, and it paid off.

“Amazon threw their weight behind this movie like only they can do,” Lomis said. “They supercharged the campaign with marketing support across all their verticals on the platform and beyond the platform. That shows a commitment to the theatrical business model from Amazon and MGM, which I think should be exciting to everybody.”

The company’s next major theatrical release is the Ben Affleck-directed Air, starring Matt Damon, out next month.

Ant-Man 3 slipped to a distant second in its third weekend in theaters with $12.5 million from North America and $22 million internationally. The Marvel and Disney film’s global cume now stands at $419.5 million. Third place went to Universal’s Cocaine Bear, which added $11 million in its second weekend in theaters to bring its domestic total to $41.3 million.

Crunchyroll’s Demon Slayer: Kimetsu No Yaiba—To The Swordsmith Village placed fourth with $10.1 million. The series is based on Koyoharu Gotoge’s manga about a boy avenging his family. Lionsgate and Kingdom Story Company’s Jesus Revolution rounded out the top five with $8.7 million. The film starring Kelsey Grammer as a pastor in the 1970s has made $30.5 million in two weekends in theaters against a $15 million production budget.

Basking in their big breaks

Continued from B4 (conversations), Hegefan (performances), Pagana (traditional cooking) and Kalyak (valuable material).

There were 20 cultural communities represented in the two-day fest and forum. These were Manobo, Talaandig, Daraghuyan, Tagolwanen, Blaan, Iranun, Tboli, Arumanen, Sama, Tausug, Sangir, Maguindanao, Teduray, Maranaw, Subanen, Yakan, Kagan, Higaonon and Mamanwa.

Special performances were lined up as well, showcasing the rich and colorful dances, music and rituals of some of the participating groups. These featured special participation from the Hinugyaw Dance Troupe, Bayang Barrios, Carlito Amalla, Helobung Cultural Dance Troupe and the Marbel Youth Choir.

Meanwhile, the Pagana cooking demos featured traditional cuisine of the Maranaws, Sama, Tboli and Subanen. Then, a General Santos City artist, educator and curator curated an exhibition, titled Tawid: Shifts in Gender Roles in Traditional Visual Arts

The exhibit featured the Iranun Art of Binalodan Inaul, an enduring expression by a small community of weavers that produce the Ikat, or resist dyeing technique, on weft thread. Works by Moamar A. Garcia and Jala Daudl were also exhibited and featured in a demonstration of the balod, or tying of patterns.

Panaghiusa is one of the projects of CCP Kaisa sa Sining (KSS) Mindanao Collaborative for 2023, which was planned during the KSS Regional Caucus and Dialogue held from June 11 on 13, 2022 in Koronadal City. The key representatives of the KSS Mindanao crafted action plans to prioritize and implement attainable cultural and artistic programs and projects that would benefit the community. n

NOT every aspirant who’d like to enter show business or who dreams of becoming a big star will get the big break. Some wait for years. Some do not even get a taste or feel of it at all. And destiny oftentimes plays a big part—if it’s meant to be, the elements of the universe will conspire to make it happen.

Eat Bulaga, the country’s undisputed longest running variety program, has a new star in the making. Danish-Filipino teen Carren Eistrup won the “Bida Next” search of the program, and this big win automatically makes her the newest addition to the noontime show’s roster of regular celebrities.

Eistrup, who hails from Cebu, admitted in a recent talk with us that she has long dreamt of being in the entertainment business.

“It has always been a childhood dream. I love to perform, specifically to sing in front of people. I have joined singing competitions in my province and even overseas, but Eat Bulaga gave me my biggest win. And I am more than happy that it is a talent search of sorts. I was evaluated in many aspects—hosting, personality, talent, singing, dancing, and what kind of overall appeal I can bring to the show.”

Many noticed that Eistrup looks a bit like Miley Cyrus, but the 14-year-old asserts that she’d like to showcase her unique individuality. She has dislodged former child star Ryzza Mae Dizon as the youngest co-host of the show but Eistrup looks up to Dizon as an inspiration.

“I am learning a lot from Ryzza and the other more senior members of the show. I am happy that they are so open with their support and their encouragement for a newcomer like me,” she said.

The Grade 9 student is happy that she can continue her schooling via online classes. “My family and

I value education, that’s why I still prioritize my schooling despite this new chapter in my life. I guess it’s a matter of managing my time well and seizing every good opportunity that my agency, Merlion Entertainment, gives me as far as this very young career of mine is concerned. Eat Bulaga has given me my biggest break and I will nurture this as much as I can. I am still young and I have a lot to learn and a long way to go. I really want to stay long in the entertainment business and make my family and kababayans in Cebu proud.”

LIFE AFTER FIDEL FOR DAVID LICAUCO

THERE’S no denying that the recently concluded GMA series Maria Clara at Ibarra gave David Licauco the biggest break of his seemingly lackluster career. His Fidel character endeared him to viewers, thanks to lead star Barbie Forteza who was paired with him and gave him the biggest push that he needed. It took Licauco nine years from the time he bagged runner-up honors in the Mister Chinatown pageant to finally get noticed. “I guess the secret is to never give up. If you really want something badly, you have

Opening outside of the top five was Guy Ritchie’s Operation Fortune: Ruse de Guerre, a spy caper with Jason Statham, Hugh Grant and Aubrey Plaza that made $3.2 million from 2,168 locations this weekend. The film, originally an STX release, was in distribution limbo for some time. Lionsgate recently stepped in to oversee the domestic rollout.

The success of Creed III bodes well for other releases coming in March, including John Wick Chapter 4 and Shazam! Fury of the Gods

“We’re going to have an incredible March,” said Paul Dergarabedian, the senior media analyst for comScore. “It’s going to feel more like summer than spring with hits coming one after the next that will create incredible momentum for the summer movie season.”

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore, with Wednesday through Sunday in parentheses.

1. Creed III, $58.7 million

2. Ant-Man and the Wasp: Quantumania, $12.5 million

3. Cocaine Bear, $11 million

4. Demon Slayer: Kimetsu No Yaiba—To The Swordsmith Village, $10.1 million

5. Jesus Revolution, $8.7 million

6. Avatar: The Way of Water, $3.6 million

7. Operation Fortune: Ruse de Guerre, $3.2 million

8. Puss in Boots: The Last Wish, $2.7 million

9. Magic Mike’s Last Dance, $1.2 million

10. 80 for Brady, $845,000. n

to be patient,” he said, adding that this newfound popularity takes getting used to.

“Sometimes I wish that I can just drive off to the nearest mall to hang around or eat or kill time. But after Fidel, life has taken on a different route. Don’t get me wrong, I am thankful that things have evolved in this manner, and I am not complaining. It’s just that sometimes in life, one has to make some compromises.”

Licauco is also glad that he is now being taken seriously as a celebrity endorser. He was recently welcomed as the new face of BlueWater Day Spa. “I am just thankful that the blessings continue to come in. I recall those times that I would have to line up for go-see and auditions, hoping to be included in the final casting for TV commercials and fashion shows. Rejections here and there, but I guess such is life,” he shared.

The 27-year-old celebrity added that he is ready for new adventures but asserted that he needs to always find the balance.

“I am at the peak of my life, and although things tend to come easier at this stage, I am very much aware that there should always be balance. I cannot overwork myself because my body and mind will suffer. I am glad that BlueWater Day Spa gives me all the perks to recharge, rejuvinate and relax when I need to slow down and counter the many stresses that come with the job.”

Licauco also told us that although he is presently uncommitted, he’d like to find the right one soon and hopefully get settled in a few years. “The romance department is one that I should also find time to look into seriously,” he ended, shaking our hands and unleashing a big wink.

‘Panaghiusa’...

THE widescreen format further complements the network’s cuttingedge shows, such as the new prime-time series Mga Lihim ni Urduja.

DOW Philippines, PBSP, local org lead planting of mangrove seedlings in Batangas

Home Credit exec appointed FinTech Alliance PHL committee chairman

HOME Credit Philippines (HCPH)

Executive Director and Treasurer

Zdenek Jankovsky was recently appointed by the country's leading association of fintech and digital players FinTech Alliance Philippines as committee chairman of financing and lending.

With a solid commitment to helping build a more sustainable and financially inclusive country, Jankovsky brings to his role expertise in promoting responsible lending with emphasis on protecting Filipinos’ financial health. His leadership also aims to lead the discussion of loans, lending, and credit and address any negative perception to provide more Filipinos with a better understanding of these topics.

“It is an honor to be appointed as the committee chairman for financing and lending of the FinTech Alliance Philippines. With the same vision with all the members of this prestigious organization, I am one with them in creating opportunities to open conversations and pursue innovative efforts toward a progressive digital financial space in partnership with regulators and other business organizations in the country,” says Jankovsky.

Home Credit Philippines, where Jankovsky serves as executive director

and treasurer, has been at the forefront of promoting innovation and digital inclusion, and championing financial literacy and empowerment reaching more than 20 million Filipinos last year. The company stands for responsible lending, empowering almost 10 million customers nationwide by providing them with financial access through consumer finance services and solutions.

“The FinTech Alliance PH is thankful to Jankovsky for taking on the committee chairmanship, who will take a proactive role in further promoting consumer protections and enabling policy reforms,” shares Lito Villanueva, FinTech Alliance PH’s founding chairman.

The Fintech Alliance Philippines is the country’s leading and largest digital trade organization comprised of different strategic players in the digital finance space in the Philippines. With over 70 corporate members, the Alliance generates over 90 percent of digital-initiated financial transactions nationwide. It contributes to the realization of the Digital Payments Transformation Roadmap of the Bangko Sentral ng Pilipinas (BSP).

The Organization took an active role during the deliberation and consultation on the regulatory initiated interest rate

cap framework. It also introduced Asia's first industry-led code of conduct and code of ethics.

Learn more about the latest updates of Home Credit by visiting its official website www.homecredit.ph. Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and by the Bangko Sentral ng Pilipinas (BSP).

State-owned DBP to expand programs for pivotal industries identified under PHL Development Plan

STATE-OWNED Development

Bank of the Philippines (DBP) is prepared to work with the National Government to broaden financing to pivotal industries identified under the Philippine Development Plan (PDP) which serves as the country’s economic development roadmap, a top official said.

DBP President and Chief Executive Officer Michael O. de Jesus said the Bank expresses its full support to the government’s push for “servicification,” which targets high-growth industries such as information and communications technology, creatives, tourism, and logistics including technology start-ups that could spur employment generation.

“DBP is one with the national government in filling the financing gap especially for emerging and so-

called sunrise industries that are heavily anchored on innovation and technology,” de Jesus said. “DBP is in a prime position to support the goals outlined in the PDP.”

DBP is the eighth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises (MSMEs); the environment; and social services and community development. It is one of the oldest financial institutions in the country and was established primarily to fund postwar recovery and rehabilitation efforts.

De Jesus said DBP could also provide the needed credit support for the digitalization and innovation programs of private firms and businesses as well as

local government units as part of their efforts to expand markets and scale up in the global value chain.

He said DBP’s developmental mindset and vast experience in bankrolling pioneering high-impact projects in areas such as infrastructure, tourism, transportation, logistics, and health care could serve as a template for engagement to strengthen operational resilience and financial muscle of these industries amidst a changing socioeconomic landscape.

“In fact, the recent ratification of the Regional Comprehensive Economic Partnership makes it imperative for Philippine firms and businesses to enhance its competitiveness, to which DBP can readily provide its resources towards that end,” de Jesus said.

Leading independent advertising agency Gigil Philippines expands services to include public relations, media services

LEADING independent advertising

agency GIGIL Philippines is taking its game to a new level as it now offers full public relations, media planning and buying services to the public.

The strategic move to launch the two departments is not only to complement GIGIL’s compelling ideas but also to boost the performance of clients’ campaigns at the same time.

The PR arm of GIGIL just started two years ago and has earned over P100 million in PR values combined from its various projects. The Media Planning & Buying services, on the other hand started in 2021, and has since done amazing executions that

made it to the headlines and have gone viral.

Netflix campaigns like “All Of Us Are Dead” https://bit.ly/41DcotU, “Red Notice” (the MOA Globe disappearance) https://bit.ly/3y5Ez71, and “The Gray Man” https://bit.ly/3J5P7JI are some of the projects that have benefited from the agency’s efforts.

GIGIL PR services include media relations, crisis management, digital PR, KOL/Influencer management, community relations, events management, strategic communications, brand awareness, content management, CSR, and activation.

GIGIL media will continue to provide comprehensive media strategies and

employ creative-driven media tactics. It will offer 360-degree media channel planning, management and execution that cover traditional, digital, and social media.

“We have always envisioned GIGIL Philippines to be an ‘ideas’ agency, first and foremost. With our full-service PR and media departments, our ideas will have a greater chance to move culture, so our clients can move more products off shelves," says Managing Partner Jake Yrastorza. For inquiries about GIGIL‘s new PR and media services, email margie. husmalaga@gigil.com.ph Visit GIGIL’s website at https://gigil. com.ph/.

OVER 5,000 mangrove seedlings were planted to help preserve the nearby coastlines of Brgy. Lagadlarin, Municipality of Lobo in Batangas province last January 27, 2023.

The conservation and protection program was spearheaded by Dow Chemical Philippines, Inc. in partnership with Philippine Business for Social Progress (PBSP) and the Samahan ng Maliliit na Mangingisda sa Pangangalaga ng Kalikasan sa Barangay Lagadlarin (SMMPKBL).

Dow Philippines Country Manager Roberto Batungbacal emphasized the importance of mangroves and expressed his gratitude to all the volunteers and partners of the activity.

“Mangrove forests contribute to the reduction of global warming, acting as traps and filters for marine litter. This will support a collective effort in reducing the impact of climate change and marine debris, which is in line with Dow’s sustainability rargets to protect the climate and to stop plastic waste. I wish to thank all our sustainability volunteers, students, industry members, government representatives, NGOs, friends and families for working together to help the local community protect and grow the mangrove ecosystem of Lagadlarin,” Batungbacal said.

The planting activity was participated by more than 200 volunteers from Lobo Local Government Unit, Barangay Lagadlagarin leaders and residents, SMMPKBL members, Batangas Coastal Resource Management Foundations with their members from Metro Industries, First Gen, Petron and Mitsubishi, the faculty and students from three campuses of the Batangas State University, Dow distributors - Connell, Suntra, Tradeton, Ellsworth and Krayden, Dow Philippines, and PBSP.

“As one of the volunteers for the mangrove planting, I am grateful for the opportunity to contribute something to the environment and help protect coastlines such as Lagadlarin. I

also had the chance to witness collaboration at its finest, with volunteers from government sectors to private companies and students, all in attendance,” Janice Jane Doria-Esteban, Customer Manager of Dow Philippines, said.

“What seemed like a daunting task, hundreds of volunteers all gathered to protect existing mangroves and plant new ones proved this otherwise. Thank you Dow for leading this meaningful activity and partnering with PBSP,” Doria-Esteban added.

In 2019, the municipality of Lobo was alarmed when a dredging vessel suddenly appeared off Barangay Lagadlarin and anchored close to its 30-hectare mangrove.

Maureen Relorcasa, President of SMMPKBL, the people’s organization in charge of protecting the mangrove forest ensured the sustainability of the project.

“Our organization is grateful to DOW for choosing our place, the Lagadlarin Mangrove Forest, to hold the planting. Planting is a very significant activity because it helps to fight the climate crisis. We are ready to take care of everything you planted while it was still small until it grows up,” Relorcasa said.

Foresters from the Department of Environment and Natural ResourcesNational Capital Region, Mark Gabriel de Guzman and Abegail Orfano were also present during the planting activity as they highlighted the importance of mangroves for carbon sequestration and how it protects coastlines by decreasing the risk of flooding and erosion.

Dow Chemical Philippines, Inc. is a PBSP member and a constant partner and supporter of PBSP’s programs particularly in the environment and education. During the past three pandemic years, Dow has worked hand in hand along with other PBSP members and partners for initiatives supporting learning continuity and assistance to the health sector, particularly to the frontliners.

mWell by Metro Pacific Health Tech makes history; brings home the coveted Global Mobile Awards

down geographic boundaries through technology, giving 24/7 access to primary care doctors, specialists, mind health experts, home care experts, emergency services, fitness, and food and nutrition programs.

METRO Pacific Investments Corporation’s (MPIC) mWell gains its spot as among the best players in the digital world as it bagged the highly-coveted 2023 Global Mobile Awards (GLOMO) Best Mobile Innovation for Digital Life Award, Digital EverythingCategory, in the Mobile World Congress, Barcelona Spain. This prestigious accolade, judged by the mobile industry’s most prominent experts, affirms mWell’s position at the forefront of the digital shift as it rose above all other global brands.

In her acceptance speech, MPIC Chief Finance, Risk and Sustainability Officer and mWell CEO Chaye Cabal-Revilla said, “Your appreciation of our efforts inspires us to keep going and to remain at the forefront of digital health care in the Philippines. As the country’s first and only health and wellness mega app, our innovative digital solutions continue to respond to our country’s needs, ensuring good health and enabling economic productivity and nation-building through a fully integrated, sustainable and future-proof digital platform. This award fuels our passion for inspiring positive change and continuing to be an instrument for our country’s sustainable development. At mWell, we make health and wellness affordable, available, and accessible to every Filipino anytime, anywhere.”

mWell continues to blaze trails in digital health care as it became the #1 health and fitness app in Google Play Store starting February.In its awards entry, mWell showcased its winning edge.

In a country like the Philippines where access to basic health care is a privilege rather than a right, Filipinos are still considered the unhealthiest in Asia. Believing that uplifting the lives of Filipinos is a prerequisite to national progress, mWell, the country’s first fully integrated and fully digital health and wellness app vetted by data privacy and cybersecurity experts, brings healthcare closer to Filipinos wherever they may be. At their fingertips, users have access to quality but affordable healthcare and wellness programs anytime, anywhere. It breaks

Through the mWell ecosystem, doctors can serve patients beyond their geographic areas. To consult, patients simply need to download the app and sign in. After the video consultation, they will receive the doctor’s notes, medical certificate, and e-prescription. They can even have the medicines delivered right at their doorstep.

With the health and well-being of Filipinos in mind, mWell promotes preventive healthcare. It has an mWellness Score developed by data scientists, which measures your physical health based on your activities – exercise, light activity, steps, sleep. It has specialized fitness programs, including diabetes prevention and post-partum exercise designed to assist new moms to get back in shape safely and healthily; and nutrition programs designed by experts.

Both a digital health service and an advocacy, mWell’s line-up of firsts covers product features, innovations not only for patients but also for doctors. For example, itlaunched the biggest nationwide digital medical mission where Filipinos can consult for free with hundreds of volunteer doctors and mind health experts during the mWellness Day.

For affordable consultations, mWell was the first to offer telemedicine through a sachet health pass, the Healthsavers Plan P399, which comes with one consult and free accident insurance worth P20,000. This may also be sent as a gift to loved ones and friends, allowing mWell app users to easily be agents of good health.

Breaking barriers through digital healthcare, mWell has made the Healthsavers Plan available globally to over 10 million Filipino migrant workers who sacrifice being away from families to provide food on the table and education for their children.They may easily send their families the health pass as a gift and allow them to conveniently consult with mWell partner-doctors.

mWellis the only healthcare app among the convenor organizations and supporting companies in the GoDigitalPilipinas movement which advocates digitalization initiatives toempower Filipinos through technology.

Download the mWell PH app from the Apple App Store or Google Play Store and register. Follow mWell on Facebook and mwellph on Instagram for more updates.

HOME Credit Philippines Executive Director and Treasurer Zdenek Jankovsky

China Premier Li Keqiang bows out as Xi loyalists take reins

Lebanon adopts ‘dollarization’ as currency, economy crumble

By Kareem Chehayeb The Associated Press

BEIRUT—When Moheidein Bazazo opened his Beirut mini-market in 1986, during some of the fiercest fighting in Lebanon’s civil war, he didn’t expect it to thrive. But several years later, he had shelves full of food and needed 12 employees to help him manage a bustling business.

Those days are over. Bazazo now mostly works alone, often in the dark to reduce his electric bill. Regular customers are struggling to make ends meet, and as they buy less so does he, leaving some shelves and refrigerators bare.

With the Lebanese economy in shambles and its currency in free fall, Bazazo spends much of his time trying to keep up with a fluctuating exchange rate. Businesses like his are increasingly leaning on one of the world’s most reliable assets—the US dollar—as a way to cope with the worst financial crisis in its modern history.

“I once lived a comfortable life, and now I’m left with just about $100 after covering the shop’s expenses” at the end of the month, Bazazo said, crunching numbers into a calculator.

“Sometimes it feels like you’re working for free.”

The Lebanese pound has lost 95 percent in value since late 2019, and now most restaurants and many stores are demanding to be paid in dollars. The government recently began allowing grocery stores like Bazazo’s to start doing the same.

While this “dollarization” aims to ease inflation and stabilize the economy, it also threatens to push more people into poverty and deepen the crisis.

That’s because few in Lebanon have access to dollars to pay for food and other essentials priced that way. But endemic corruption means political and financial leaders are resisting the alternative to dollarization: long-term reforms to banks and government agencies that would end wasteful spending and jump-start the economy.

Other countries like Zimbabwe and Ecuador have turned to the dollar to beat back hyperinflation and other economic woes, with mixed success. Pakistan and Egypt also are struggling with crashing currencies but their economic crises are largely tied to an outside event—Russia’s war in Ukraine, which has caused food and energy prices to soar.

Lebanon’s woes are much of its own making.

As the country felt the impacts of the Covid-19 pandemic, a deadly Beirut port explosion in 2020 and Russia’s invasion Ukraine, its central bank simply printed more currency, eroding its value and causing inflation to soar.

Three-quarters of Lebanon’s 6 million people have fallen into poverty since the 2019 crisis began. Crippling power cuts and medicine shortages have paralyzed much of public life.

Currency shortages prompted banks to limit withdrawals, trapping millions of people’s savings. It’s led some in desperation to hold up banks to forcibly take back their money.

The damage of the last few years was magnified by decades of economic mismanagement that allowed the government to spend well beyond its means. The head of the country’s Central Bank was recently charged with embezzling public funds and other crimes.

The pulverized Lebanese pound fluctuates almost hourly. Though officially pegged to the dollar since 1997, the pound’s value is dictated now by an opaque black market rate that has become standard for most goods and services.

Last month, its value fell from about 64,000 pounds to the dollar to 88,000 on the black market, while the official rate is 15,000. Making things worse for a country reliant on imported food, fuel and other products priced in dollars, the government recently tripled the amount of tax—in Lebanese pounds—that importers must pay on those goods.

This will likely lead to more price hikes. For small businesses, it could means selling products at a loss just minutes after stacking them on the shelves.

Dollarization could give the impression of greater financial stability, but it also will widen already vast economic inequalities, said Sami Zoughaib, an economist and research manager at Beirut-based think tank the Policy Initiative.

“We have a class that has access to dollars...[and] you have another portion of the population that earns in Lebanese pounds that have now seen their income completely decimated,” Zoughaib said.

The shift to a more dollar-dominated economy happened not by government decree, but by companies and individuals refusing to accept payment in a currency that relentlessly loses value.

First, luxury goods and services were priced in dollars for the wealthy, tourists and owners of private generators, who have to pay for imported diesel. Then it was most restaurants. And now grocery stores.

Caretaker Economy Minister Amin Salam said the Lebanese pound was “used and abused” over the past three years and that dollarizing grocery stores will bring some stability to fluctuating exchange rates.

As more people and businesses reject the local currency, the dollar gradually becomes the de facto currency. The lack of trust in the Lebanese pound has become irreversible, said Layal Mansour, an economist specializing in financial crises in dollarized countries.

“People are fed up with the fluctuation of the dollar rate, and having to spend lots of time changing it, so practically, on a societal level, it’s better to use dollars,” Mansour said. “This is the end of the Lebanese pound as we know it.”

Without a strategy to address the economy’s underlying problems, the government “is allowing this to happen,’’ said Lawrence White, an economics professor at George Mason University.

Dollarization means the Central Bank can’t keep printing currency that fuels inflation, and having a more reliable currency might create more confidence for businesses. But many people could be further squeezed if Beirut officially adopts the greenback as its currency.

Millions in Lebanon who tolerated the dollarization of luxury items may not respond similarly to groceries, whose prices were already surging at some of the highest rates globally.

Over 90 percent of the population earns their income in Lebanese pounds, according to a 2022 survey by the International Labor Organization and the Lebanese government’s statistics agency. Families that receive money from relatives abroad spend much of it keeping the lights on and covering medical expenses.

They would have to be paid in dollars to adequately adjust, which most businesses and employers, especially the Lebanese state, are short on. AP Business Writer Paul Wiseman in Washington contributed to this report

After exiting the ruling Communist Party’s all-powerful Politburo Standing Committee in October—despite being below retirement age—Li’s last major task was delivering the state of the nation address to the rubber-stamp parliament on Monday. The report sought to reassure citizens of the resiliency of the Chinese economy, but contained little that was new.

Once seen as a potential top leader, Li was increasingly sidelined as Xi accumulated evergreater powers and elevated the military and security services in aid of the “great rejuvenation of the Chinese nation.” Li’s lack of visibility sometimes made it difficult to remember he was technically ranked No. 2 in party.

Li “was a premier largely kept out of the limelight by order of the boss,” said Steve Tsang, director of the China Institute at the London University School of Oriental and African Studies and a longtime observer of Chinese politics.

In an era where personal loyalty trumps all, the fact that Li wasn’t seen purely as a Xi loyalist may end up being “the main reason why he will be remembered fondly,” Tsang said.

For most of his career, Li was known as a cautious, capable, and highly intelligent bureaucrat who rose through, and was bound by, a consensus-oriented Communist Party that reflexively stifles dissent.

As governor and then party secretary of the densely populated agricultural province of Henan in the 1990s, Li squelched reporting on an AIDS outbreak tied to illegal blood-buying rings that pooled plasma and reinjected it into donors after removing the blood products, allegedly with the

collusion of local officials.

While Li was not in office when the scandal broke, his administration worked to quiet it up, prevented victims from seeking redress and harassed private citizens working on behalf of orphans and others affected.

But Li also cut a modestly different profile, an English speaker from a generation of politicians schooled during a time of greater openness to liberal Western ideas. Introduced to politics during the chaotic 1966-1976 Cultural Revolution, he made it into prestigious Peking University, where he studied law and economics, on his own merits rather than through political connections.

After graduation, Li went to work at the Communist Youth League, an organization that grooms university students for party roles, then headed by future president and party leader Hu Jintao. Higher office soon followed.

Among the largely faceless ranks of Chinese bureaucrats, Li managed to show an unusually candid streak.

In a US State Department cable released by WikiLeaks, Li is quoted telling diplomats that Chinese economic growth statistics were “man-made,’’ and saying he looked instead to electricity demand, rail cargo traffic, and lending as more accurate indicators.

Though no populist, in his speeches and public appearances, Li was practically typhonic compared to the typically languorous Xi.

Yet, he largely failed to make effective use of the platforms he was given, unlike his immediate predecessors. At his sole annual news conference on the closing day of each congressional annual session, Li used up most of his time repeating talks points and

reciting statistics. Throughout the upheavals of China’s threeyear battle against Covid-19, Li was practically invisible.

Li, who hailed from humble backgrounds, had been seen as Hu’s preferred successor as president. But the need to balance party factions prompted the leadership to choose Xi, the son of a former vice premier and party elder, as the consensus candidate.

The two never formed anything like the partnership that characterized Hu’s relationship with his premier, Wen Jiabao— or Mao Zedong’s with the redoubtable Zhou Enlai—although Li and Xi never openly disagreed over fundamentals.

“Xi is not the first among equals, but rather is way above equal,” said Cheng Li, an expert on the Chinese leadership at the Brookings Institute in Washington, D.C. Ultimately, Li was a “team player” that put party unity foremost, he said.

Meanwhile, Li’s authority was being gradually shrunk, beginning with a reorganization of offices in 2018. While some may have wished Li had been more “influential or decisive,” the ground was crumbling under his feet as Xi shifted more of the powers of the State Council, China’s Cabinet, to party institutions, Cheng Li said. That shift to expanded party control is expected to continue at the current congress meeting on an even greater scale.

At the same time, Xi appeared to favor trusted long-time brothers-in-arms such as economic adviser Liu He and head of the legislature Li Zhanshu, over Li,

leaving him with little visibility or influence.

His departure leaves major questions about the future of the private sector that Xi has been reining in, along with wider economic reforms championed by Li and his cohort. His expected replacement, Li Qiang, is a crony of Xi’s from his days in provincial government, best known for his ruthless implementation of last spring’s monthslong Covid-19 lockdown in Shanghai.

“Li Keqiang has been associated with a more economics-focused take on governance, which contrasts strongly with the ideological tone that Xi has brought to politics,” said Rana Mitter of Oxford University.

“Li may be the last premier of his type, at least for a while,” Mitter said.

Li may be remembered less for what he achieved than for the fact that he was the last of the technocrats to serve at the top of the Chinese Communist Party, said Carl Minzner, an expert on Chinese law and governance at New York’s Fordham University and the Council on Foreign Relations. Politically, Xi’s authoritarian tendencies risk a return to Mao-era practices where elite politics become “yet more byzantine, vicious, and unstable,” Minzner said.

Li’s departure “marks the end of an era in which expertise and performance, rather than political loyalty to Xi himself, was the primary career criterion for ambitious officials seeking to rise up to higher office,” he said. AP

Turkey keeps status as world’s biggest gold buyer in January

By Asli Kandemir

TURKEY bought 23 tons of gold in January, making it the biggest buyer of the precious metal among central banks globally over the period.

The country now holds 565 tons of gold, the highest level on record, according to data from the World Gold Council.

In total, central banks around the world added a net 31 tons of gold to their reserves in January, increasing their purchases by 16 percent from December. The People’s Bank of China and National Bank of Kazakhstan were the second and third biggest acquirers of the commodity, adding 15 tons

and 4 tons, respectively.

Turkey has been accumulating gold for some months and was the biggest buyer of the metal among monetary authorities last year. Gold is also a popular commodity among Turkish households who use it as a hedge against currency and inflation pressures.

Last month, Turkey temporarily suspended some gold imports as part of an emergency plan to mitigate the economic fallout from the devastating earthquakes. The government is also trying to limit gold imports, which are seen as the biggest threat to deteriorating external finances. Bloomberg News

BEIJING—After a decade in Chinese President Xi Jinping’s shadow, Li Keqiang is taking his final bow as the country’s premier, marking a shift away from the skilled technocrats who have helped steer the world’s second-biggest economy in favor of officials known mainly for their unquestioned loyalty to China’s most powerful leader in recent history.

MOHEIDEIN BAZAZO changes price tags from Lebanese pound to the US dollar in

CHINESE Premier Li Keqiang, right, bows after delivering his state of the nation address during the opening session of China’s National People’s Congress (NPC) at the Great Hall of the People in Beijing on Sunday, March 5, 2023. After a decade in Chinese President Xi Jinping’s shadow, Li Keqiang is taking his final bow as the country’s premier, marking a shift away from the skilled technocrats who have helped steer the world’s second-biggest economy in favor of officials known mainly for their unquestioned

loyalty to China’s most powerful leader in

red-hot PLDT

Creamline eyes semifinals berth vs

THREE of the four leading teams and one trying to crash through the backdoor collide in a pair of matches that could either clear or mess up the semifinal race in the Premier Volleyball League All Filipino Conference at the PhilSports Arena in Pasig Tuesday.

C reamline goes for the first Final Four berth against a PLDT side hot on a four-game run while joint third-running F2 Logistics faces a Choco Mucho crew seeking to stay in the conversation heading to the final stretch of the single round eliminations.

The Cool Smashers rebounded from a tough five-set setback to the F2 Logistics squad with big victories over the Chery Tiggo Crossovers and the Army Lady Troopers as the defending champions regained the solo lead at 5-1 following a couple of reversals that stymied the bids of the Cargo Movers and the Crossovers.

But the High Speed Hitters silently but effectively put themselves in strong contention with a sweep of their last four matches after dropping a five-setter to the Cargo Movers last February 7, making them the hottest squad among the chief semis contenders in the season-opening conference of the league organized by Sports Vision.

W ith both teams coming off a week-long rest, the CreamlinePLDT duel at 4 p.m. is expected to be tight and fierce although the Cool Smashers will most likely bank on their firepower to halt their rivals’ charge and formalize their stint in post-elims play.

B ut PLDT coach Rald Ricafort has whipped his squad—made up of Mika Reyes, Jovie Prado, Dell Palomata and Mean Mendrez and reinforced by Michelle Morente— into one fighting, cohesive unit with their new recruit norming 13.2 points in their last four games.

C reamline, however, boasts not only of talents in Tots Carlos, Jema Galanza, Ced Domingo, Michele Gumabao and Kyla Atienza, but also of championship experience, having reigned in this conference, the former Open, the last three editions.

F2 Logistics, meanwhile, tries to recover from a stinging shutout loss to Petro Gazz last Thursday after shocking Creamline in five and thumping Cignal in three but the Cargo Movers will be as much tested as the Flying Titans in their 6:30 p.m. encounter.

W hile F2 Logistics, in joint third with Petro Gazz with 4-2 marks, will have winless Army as its final elims assignment on Saturday, the Cargo Movers won’t rely on that chance to advance but will set out against the Flying Titans with the same winning mindset and determination.

Diaz, Maravilla shine in Biñan

B8 Tuesday, March 7, 2023

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

PhilCycling women’s road team joins Vietnam race

A10-MEMBER women’s team of the PhilCycling arrived in Ho Chi Minh City on Monday morning for the 13th Biwase Cup—a 10-stage women’s road race that Vietnam hosts annually in celebration of the International Women’s Day.

The team is composed of five members of the national women’s team and two other riders who subbed for national athletes who couldn’t join the race because of school duties.

US, JAPAN TRAINING FOR HIDILYN

By Josef Ramos

DIAZ-

HIDILYN

NARANJO flies to Georgia in the US on Wednesday to rev up her campaign for a fifth Olympic appearance in Paris next year—and a potential second gold medal after the historic feat she pulled off two years ago in Tokyo.

D iaz-Naranjo and her husband coach Julius Naranjo are taking the US flight two days after the country’s first Olympic gold medalist was hailed for the second straight time as Athlete of the Year during the San Miguel Corp.-Philippine

Sportswriters Association Annual Awards on Monday night at the Diamond Hotel.

I’m returning to the US to continue building up and strengthen my Olympic qualifying bid,” DiazNaranjo said.

The couple will again train under a two-week program at the Power and Grace gym—where most of the US and Canadian Olympic weightlifting team members train—in Swanee, Georgia.

It was in the same Swanee Gym where Diaz-Naranjo trained ahead of

the 2022 world championships in Bogota last December. The Georgia program worked as she swept all three gold medals in the women’s 55 kgs category in Colombia.

A fter Georgia, they will return to Manila before shifting the training program in Japan from April 16 to May 2.

D iaz-Naranjo is preparing for the second of six qualifying tournaments for Paris 2024—the Asian Weightlifting Championships in Jinju City, South Korea, from May 3 to 13.

D iaz-Naranjo has already declared she’s uavailable for the May 5 to 17 Cambodia 32nd Southeast Asian Games and the

Hangzhou 19th Asian Games to concentrate on the Olympic qualifiers.

It’s going to be a change of environment each time in the US and Japan,” she said. “I’m 80 to 90 percent in good condition because I continued training since January.”

The couple maintains a personal training facility in Jala-Jala, Rizal.

D iaz-Naranjo moved up to the 59 kgs class after the 55 kgs category was scrapped from the Paris program.

S he admitted it would take a lot of hard work and tedious training to get her body to gold medal-potential at 55 kgs.

Malixi, elite field brace for tough battle

“I have not played in SICC, so it will be interesting on how we’ll play with the course,” said a thrilled Malixi, a three-time winner on the Ladies Philippine Golf Tour.

It will be a question of length with the softened, hilly par-72 Island course that weaves through old trees expected to play longer with a forecast of another rainy week in the island state.

It will also be about iron play and the ability to set up birdie chances on the receptive greens and make them.

A fter losing in the countback for the bronze in Queen Sirikit, Malixi buckled down to work and shuttled to and from two tough courses to polish her craft while keeping herself fit and in shape.

I’ve been training at Royal Northwoods [Bulacan] and at The Country Club [Laguna], so it was more practicing more under gusty conditions. I’ve also had my fitness sessions with my conditioning coach,” she said.

led by three Japanese in the world’s top 10, a crew of talented Koreans and Thais, a solid New Zealand side and India’s Avani Prashanth, who ran away with a 10-stroke victory in individual play of the Queen Sirikit Cup at Manila Southwoods recently.

Emerging stars from the AsiaPacific region make up the 85-player field in a four-day test of ball-striking with emphasis also on mental toughness with the weather likely to be a big factor the way it was in last week’s Ladies Professional Golf Association Tour’s Women’s World Championship marred by a number of rain delays and suspension because of threats of lightning.

But winning the championship and mirroring the exploits of Thai Atthaya Thitikul, who topped the inaugural staging in 2018 at nearby Sentosa Golf Club and went on to gain the world No. 1 ranking in one stretch last year, will be more than enough motivation for this crack set of bidders from 22 countries.

RIANNE MALIXI plays the Singapore Island Country Club (SICC) course for the first time as she vies in the Women’s Amateur Asia Pacific Championship which gets going Thursday in Singapore.

JANA DIAZ pulled off a two-title romp while Reign Maravilla posted a win and a runnerup finish as the rising Cavite stars shared the spotlight in the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Rep. Len Naguiat National Junior Tennis Championships at the South City Homes Recreational courts in Biñan Sunday.

The top-seeded Diaz flashed top form coming off a victory in the Escudero Cup, crushing Joy Ansay, 6-2, 6-2, in the girls’ 16-under finals before the Bacoor, Cavite find blasted Sandra Bautista, 6-3, 6-0, for the 18-under crown in the Group 1 tournament presented by Dunlop and marked by a couple of reversals.

M aravilla, on the other hand, foiled Escudero Cup leg winner Kendrick Bona, 6-3, 6-3, in

KRISTINE PARAON won a gold medal and a silver to lead the country’s successful campaign in the recent hybrid World Rowing Indoor Championships (WRICH).

O nly 20, Paraon topped the 2,000 meters and 500 meters event in the women’s 19-20 age category of the event, the first hybrid competition in WRICH history.

Joining the Internatonal Container Terminal Services Inc.backed Malixi are Mafy Singson, Lois Kaye Go and reigning national stroke play champion Junia Gabasa. They will face challenges from an elite field

the boys’ 16-under championship although the Dasmariñas, Cavite bet came up short and bowed to Vince Serna of Butuan City, who hacked out a 6-1, 6-7(4), 10-8 decision in the premier 18-under finals of the week-long event hosted by Biñan City Mayor Len Alonte-Naguiat and part of country’s longest talent-search put up by Palawan Pawnshop president and CEO Bobby Castro.

M aristella Torrecampo of Los Baños likewise came away with a “double” in varying fashions, dispatching Ayl Gonzaga, 6-0, 6-1, for the girls’ 12-under diadem then surviving Erynne Ong, 3-6, 6-4, 13-11, in the 14-under finals.

O ther winners were Tyronne Caro (10-unisex), Iloilo’s Bjorn Castigador (boys’ 12-under) and Cabanatuan’s Lexious Cruz (boys’ 14-under).

Rower Paraon shines in hybrid worlds

Tokyo Olympian Cris Nievarez and Athens Greece Tolentino placed third in the 2,000 meters and lightweight 500 meters in the men’s 21-22 age group for the country’s bronze medals.

T he hybrid competition was supervised in Mississauga, Canada, with the Filipino rowers,

including student athletes from Ateneo de Manila University, competing from the national rowing association’s headquarters inside the La Mesa Dam compound in Quezon City.

P araon, Nievarez and Tolentino qualified for the hybrid world championships later this year along

M alixi tied for third after contending for the championship in the last WAAP ruled by Taiwanese Ting-Hsuan Huang in Thailand last November.

The goal is for our women’s team to get at least one foreign exposure ahead of the Southeast Asian Games,” said Philippine Olympic Committee (POC) president Rep. Abraham “Bambol” Tolentino, also head of the PhilCycling.

T he team is composed of national athletes Mathilda Krog, Kate Yasmin Velasco, Avegail Rombaon, Marianne Dacumos and Mhay Ann Lina and additions Jelsie Sabado and Maura de los Reyes.

M arita Lucas, Alfie Catalan and Joey de los Reyes are coaching the team supported by the POC, Philippine Sports Commission, Tagaytay City, MVP Sports Foundation, Standard Insurance, Excellent Noodles and 7-Eleven.

T he race starts Wednesday— right on the global celebration of the International Women’s Day— with a 66-km criterium around Binh Duong New City.

The race organized by the Vietnam Cycling Federation covers 1,101 kms and ends on March 17.

A fter this pre-Cambodia 32nd SEA Games prep race in Vietnam, the entire national team will head to training camp for both the road and mountain bike disciplines

The race will be livestreamed on https://www.facebook.com/vcfchannel/ posts/pfbid0JWL3EfCcczQdEMuN7aZTHTpnDKxn8QG2dB7Y8Ur9VwC7NLw8yYkS8zKTxEWA54bcl.

THE team—(from left) coaches Alfie Catalan and Marita Lucas, Marianne Dacumos, Jelsie Sabado, Mathilda Krog, Kate Yasmin Velasco, Avegail Rombaon, Maura de los Reyes and coach Joey de los Reyes—arrive at the Tân Sơn Nhất International Airport in Ho Chi Minh City on Monday morning.

Curry shakes off rust in return, but Warriors yield to LA Lakers

LOS ANGELES—For three quarters, Stephen Curry looked like a player who had not been on the court in over a month.

That rust quickly disappeared in the fourth quarter against the Los Angeles Lakers on Sunday.

The All-Star guard scored 19 of his 27 points in the final 12 minutes of the Golden State Warriors’ 113-105 loss.

He looked great. He is who he is. He strikes fear in opponents and opens up a lot of things for his teammates,” Warriors coach Steve Kerr said.

Curry was on a minutes restriction after missing 11 games with a left leg injury. He ended up playing 32 minutes in an important game for both teams.

“ I felt like I got stronger as the game goes on,” Curry said. “It felt great to get thrown back in there right away. It was a little sluggish as far as the sharpness of skills early on, but then you start to feel the spirit of the game. If I get better as the game goes on, that’s always a great sign for me individually.”

Curry missed his first three shots and didn’t get on the board until midway through the second quarter, when he scored eight straight points. His run started with a step-back 3-pointer with 7:26 remaining in the first half.

with Roque Abala Jr., Edgar Ilas, Christian Joseph Jasmin, Feiza Lenton, Amelyn Pagulayan, Kharl Julianne Sha and Zuriel Sumintac.

T he student athletes from Ateneo who competed in the event were Emilia Abalos, Mariana Hermoso, Carmela Miranda, Alynn Pagayatan, Joseph Andaya, JC Berdin, Rupert Custodio, Nico Duque, Jasper Go, Shaun Tan, Gian Largo and Lorenzo Caballa.

A fter going 3 for 11 from the field in the first three quarters, Curry looked more like himself in the fourth. He was 5 of 9 from the field—including 3 of 6 on 3-pointers—and made all six of his free-throw attempts.

The Warriors, who trailed by 20 late in the first quarter, rallied back to tie it at 91 midway through the fourth, but never regained the lead as their five-game winning streak ended. AP

STEPHEN CURRY scores 19 of his 27 points in the final 12 minutes of his return from injury bay. AP

RIANNE MALIXI is playing the Singapore Island Country Club course for the first time.

KYLA ATIENZA and the Cool Smashers want a clear path to the playoffs.

JANA DIAZ (second from right) and Reign Maravilla post with Luz Maestrado (left) of the South City Recreation Tennis Center and Jonathan Bernardo, United Tennis Philippines OIC for Calabarzon.

IT’S back to serious work for Hidilyn Diaz-Naranjo two days after she’s hailed as the country’s best athlete for 2022.