BusinessMirror March 16, 2023

working abroad are still expected to continue increasing their remittances this year despite the threat of recession in advanced countries like the United States.

On Wednesday, the Bangko Sentral ng Pilipinas (BSP) disclosed that cash remittances from Filipinos overseas grew 3.5 percent to $2.76 billion in January 2023.

Ateneo de Manila University

Department of Economics Chairperson Alvin P. Ang told BM that remittances sent by Filipinos to their families back home are expected to increase 3 to 5 percent this year.

“Remittances may be invisible because even the pandemic did not cause it to post a negative growth,” Ang told this newspaper on Wednesday. “I expect remittances to post a growth of around 3 to 5

FINANCE Secretary Benjamin E. Diokno assured the public on Wednesday that the concerns and challenges faced by the US banking system following the collapse of the Silicon Valley Bank (SVB) would not harm the Philippine economy.

In a message to reporters, Diokno said the Philippine banking system remains “sound” and “well capitalized.”

fenced the banking turmoil,” he added.

Earlier this week, the Bankers Association of the Philippines (BAP) assured the public that the fallout from failed US banks will not have a “substantial” or “material” impact on the country’s banking system.

collapse of SVB and Signature Bank of New York. International news outfits have reported that the closure of the two lenders have been attributed to ill-timed decisions of their bankers.

the Philippine banking system to withstand economic shocks,” the BAP said.

MILLENNIALS are having the time of their lives, post-pandemic, thinking of traveling, and booking their vacations online.

In a news briefi ng on Tuesday, Michelle Ho, general manager for Klook Philippines and ailand, said Filipinos have been booking vacations to Singapore, Japan, and Hong Kong, as well as domestic destinations like Boracay, Manila, Tagaytay, Cebu, Clark, and Subic. As per the Klook Travel Pulse, bookings to these domestic

destinations grew by 87 percent last year versus prepandemic 2019.

For Hong Kong alone, bookings by Filipinos jumped by 230 percent month-on-month to January 2023 from December 2022. Ho said the bookings for Hong Kong continue to increase by “double digits” for February and March.

She attributed this growth to increasing digitalization in the tourism industry: “Travel has become even more accessible to consumers that more people are becoming digital-savvy, and we

“

ere is no reported exposure of Philippine banks to Silicon Valley Bank,” he said.

“ ink the Fed and US fi nance authorities have successfully ring

“ e Bankers Association of the Philippines assures the Filipino public that recent developments in the US fi nancial system have no substantial or material impact on Philippine banks,” the group said in a statement on Tuesday.

e BAP issued the statement after concerns were raised regarding the strength of the US banking system following the

Reports have also indicated that the sudden demise of the two US banks exposed the weaknesses in the US banking system, particularly in terms of regulation. (Related story: https:// businessmirror.com.ph/2023/03/13/ us-govt-moves-to-stop-potentialbanking-crisis-after-historic-svbfailure/

)

“ e prudential measures implemented by the BSP [Bangko Sentral ng Pilipinas] provide the necessary support that allows

DTI vows ease of doing biz for logistics sector in PHL

THE Department of Trade and Industry (DTI) vowed to make it easier for the Philippine logistics sector to do business in the Philippines.

Among the initiatives of the Trade department is to streamline the accreditation process for the logistics sector.

At the Supply Chain Trilogy 2023 Forum, DTI Assistant Secretary Mary Jean T. Pacheco said a streamlining initiative of DTI has been endorsed to the Anti-Red Tape Authority (ARTA) for Phase 2.

In a presentation at the forum, Pacheco said the Trade department has so far accomplished Phase 1 on cold storage, customs broker-

age, domestic shipping, freight forwarding, trucking and warehousing sectors.

In addition, the DTI inked a memorandum of agreement (MOA) with the Civil Aeronautics Board (CAB) of the Department of Transportation (DOTr).

In December 2022, the DTI reported that “In 2021, the Logistics Services Philippines [LSPH] Project Streamlining was carried out by DTI to identify regulatory constraints in the freight forwarding sector.”

Among the key fi ndings, the DTI noted, are the “separate and redundant” accreditation requirements and processes for sea and

e BAP explained that local banks have “diversified” deposit bases that include all sectors of the Philippine economy, allowing them “to continuously provide the liquidity needs of their clients.”

e group added that Philippine banks’ current capital and liquidity ratios continue to “exceed” the requirements set by the BSP.

“ e BAP continues to work with BSP and other stakeholders to pursue reforms that will lead to an even stronger fi nancial system that sufficiently provides the fi nancial needs of the banking public,” it said.

PBBM Tokyo trip drew $621-M trade, $23-M investment leads

PRESIDENT Ferdinand R. Marcos Jr.’s official working visit to Tokyo, Japan in February 2023 generated US$620.72 million and US$22.67 million in trade and investment leads, respectively, based on the submitted reports of private sector participants, according to the Department of Trade and Industry (DTI).

According to the Trade department, companies from manufacturing, construction and infrastructure, real estate, communication and information technology, energy, and other fields participated in the event.

“About 600 business meetings were set up, and 118 companies from the Philippines and 597 com-

panies from Japan signed up for the event,” DTI-Export Marketing Bureau (EMB) said in a statement on Wednesday.

According to the export marketing arm of DTI, the activity is part of the ongoing initiatives of the agency’s field office in Japan spearheaded by Philippine Trade and Investment Center (PTIC)-

censes to operate.

Pacheco gave an overview of the burden experienced by the logistics sector as result of the redundancies.

Tokyo Commercial Counsellor Dita Angara-Mathay, to strengthen the Philippines’s and Japan’s economic relations as well as collaboration between the government and the private sector in the promotion of Philippine products and services.

DTI-EMB said key supporters of the initiative included Foreign Trade Service Corps (FTSC) Coordinating Office, the Export Marketing Bureau (EMB), and the Asean-Japan Centre (AJC).

Angara-Mathay pointed to a “growing momentum” in the areas of trade and investment relations between the two countries.

“During the business matching event, which to date is the largest in the history of presidential trips overseas, both government and the private sector acknowledged that there are rising opportunities for economic engagement in areas that are critical to national priorities,” Angara-Mathay said.

In order to pursue the Philippines’s strategy of investment-led

have to apply for my permit with the DTI-[Fair Trade Enforcement Bureau] FTEB, but I’m also into air, so I have to file my accreditation with the Civil Aeronautics Board,” Pacheco noted.

air freight forwarders by DTI’s Fair Trade Enforcement Bureau (FTEB) and the Civil Aeronautics Board (CAB) of DOTr, which, it said are two agencies mandated to issue li-

“For example because of this study, one of the recommendations of freight forwarders, they know that I’m a freight forwarder and I’m a sea freight forwarder, I

With this, she said, the private sector prodded the government to streamline the accreditation because “it’s a bit methodical.”

export growth, Angara-Mathay noted the country needs to “actively seek out platforms” that promote exchange between the expanding networks.

Apart from the business matching activity, PTIC-Tokyo said it planned a full schedule for the members of the President’s official business delegation during his working visit to Japan.

This, the Japan-based trade center said, included a site visit to Japan’s manufacturer of the world’s smallest compact satellite in orbit, participation in the signing and exchange of business agreements, whose project value reached US$13 billion.

It added that this is the “largest” business forum that attracted close to 800 attendees and two major networking activities with portfolio and foreign direct investors, “all with the end goal of continuing and cementing dynamic bilateral relations of the Philippines and Japan.” Andrea E. San Juan

Pacheco invited IT firms present at the forum that are inclined to provide services to the government: “We want to see an IT solution to this particular problem, to merge the process of two agencies of government.”

Pacheco cited a study which DTI conducted together with the logistics industry on the life of a freight forwarding business. The illustration showed 8 to 19 regulatory agencies play a role in the life of a freight forwarding business; 21 to 62 permits/licenses; 97 to 614 documentary requirements; 63 to 410 client steps.

Meanwhile, the fees range from P43,005.35 to P703,923.19. For processing time, the life of a freight forwarding business can span from 2 months, 1 day, 1 hour and 22 minutes to 9 years, 2 months, 1 week, 2 days, 4 hours and 34 minutes, Pacheco said.

“We realized...so we gave this to ARTA because it has the mandate to streamline permits. But government agencies like DTI, we can do this, we need to automate,” Pacheco said. Through the lens of the logistics sector, Gilbert Singson, the National Cold Chain Head for Logistics, lauded the 10 commitments of DTI which included the streamlining of accreditations.

“At the end of the day, it’s really a matter of consolidating all of these steps into just one system, one person, one corporate entity, that would do the transactions,” Singson noted.

Apart from streamlining accreditations, DTI and the Cold Chain industry agreed on the need to “synchronize” the logistics operations in the country. Pacheco said the DTI had acknowledged that the problem with logistics “is that we’re not synchronized.”

For instance, she noted the port and terminal operators operate 24/7. In contrast, she said, “With the banks, the shipping lines, the customs brokers, even the government, we’re not. We’re 8 to 5.”

The Trade official said the entire system should be like a “well-oiled machine,” adding that if technology can carry out this objective, the DTI should make it happen.

Singson agreed that the Philippine logistics sector is not synchronized: “We need to look at the cold storage warehouses, the ports and logistics providers, the whole ecosystem and stakeholders of our industry because we know and we have identified that we are very fragmented, even as I speak, in terms of our trucking and the supply chain trucking industry itself.”

He also said the country does not have “one association that can represent the whole group.”

“I guess it’s really a matter of defragmenting the supply chain and making sure that we collaborate together,” Singson noted.

believe this digital transformation is contributing greatly to the accel eration of tourism growth in the region.”

In Boracay, for instance, book ings for water activities grew by 75 percent in the fourth quarter ver sus the same period in 2021, with 70 percent of total revenue coming from domestic bookings.

“Klook is bridging local tour operators to travelers, making dis coverability of activities easier and hassle-free,” she added.

Manila Ocean Park, for another, recorded a 40-percent increase in admission tickets in the fourth quarter of 2022 versus the same period in 2021. The park’s web site booking system, along with that of its sister park in Cebu, are powered by Klook through Flickket, “enabling direct entry for customers through a seamless mode of payment and QR code redemption system.”

Discounts with merchants

THE company also introduced Klook Pass, first in Boracay, giving users access to merchants offering 30-40 percent discounts on the latter’s products and services. The pass will also be available for Cebu and other domestic destinations soon, said Ho.

A leading travel and experiences platform in Asia which was founded in Hong Kong, Klook was first introduced in the Philippine in 2017. To date, it has 3.8 million active users in the Philippines, most of whom are aged 25-40 years old. These include solo travelers, friends, couples, and families who drive 3.4 million in monthly traffic to the app.

The study also shows 44 percent of its Filipino users prefer to travel from six to nine days, while 40 percent prefer three to five days, while 38 percent prefer 10 or more days, and only 15 percent travel for one or two days. The study also showed Filipinos favor booking theme parks, water sports, and hotels.

27% growth in monthly bookings forecasted

KLOOK Philippines was able to grow its business during the pandemic as it partnered with hotels and e-wallet mobile app GCash. Introduced in 2017, the app now has over 300 partner merchants in the country. The study showed 87 percent of Filipinos are eager to travel, with 17 percent of whom having actually made bookings. Ho considers this “moderate” and comparable to other users in Asia.

The company sees further growth in its business in the Philippines this year with international and domestic bookings continuing to drive this, said Ho. In February 2023, there was a 22-percent increase in Klook app downloads versus the same month in 2019. The company ended 2022 with a 62-percent growth in bookings, “showing that more and more Filipinos are flocking to the app to plan their next trip,” said Ho. “By the end of 2023, we expect a 27-percent increase in monthly bookings compared to our pre-pandemic numbers.” She said Klook will further reach out to local merchants to show how digitalization, i.e., the app, can transform their business, “and hopefully work more closely with our local tourism industry in general to help maximize the tourism prospects for the country.”

OFW REMITTANCES SEEN TO BUCK RECESSION RISK

Continued from A1

percent this year.”

Unionbank Chief Economist Ruben Carlo O. Asuncion told BusinessMirror that their latest outlook showed that remittances could post a growth of 3 percent this year.

However, this is slightly lower than the 3.6-percent average growth in 2022.

Asuncion said remittance growth is expected to remain robust in the first semester of 2023 but the expected slowdown in growth in advanced countries is expected to weaken remittance growth in the second half of the year.

“[The] anticipated soft or hard landings for the developed and emerging markets [will] likely affect the forecast path; the dips in the current remittance trajectory, especially for July and October, reflect the global downturn’s impact on broad labor demand in 2H [second half] [and] could result in subdued remittance flows,” Asuncion told this newspaper.

In the policy note the Hexagon Perspective, Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said the recession in the United States could slow down remittance growth.

This will also be driven by the slowdown in global trade and exports as well as investments or Foreign Direct Investments (FDIs), employment, and other business/economic activities.

Nonetheless, Ricafort said, remittances will continue

increasing on a year-on-year basis because of the need of the families of Filipinos overseas to cope with rising domestic inflation.

“OFW remittances, still near record highs on a monthly basis, are considered a bright spot for the Philippine economy in terms of spurring/supporting consumer spending, which accounts for at least 75 percent of the economy, and in turn, support faster GDP/economic growth,” Ricafort said.

Based on data from the BSP, the expansion in cash remittances in January 2023 was due to the growth in receipts from land- and sea-based workers.

The growth in cash remittances from the United States, Saudi Arabia, Japan and Singapore contributed largely to the increase in remittances in January 2023.

In terms of country sources, the US posted the highest share of overall remittances during the said month, followed by Singapore, Japan, and Saudi Arabia.

For personal remittances, the BSP data showed overseas Filipinos sent $3.07 billion in January 2023, also 3.5 percent higher than the $2.97 billion recorded in the same month last year.

The increase in personal remittances in January 2023 was due to higher remittances sent by land-based workers with work contracts of one year or more and sea-and land-based workers with work contracts of less than one year.

The Nation

Senate sets hearing on reso calling for Charter revision via Con-con

By Jovee Marie N. Dela Cruz  @joveemarie

FOLLOWING its passage in the House of Representatives, a leader of the lower chamber on Wednesday said the Senate is set to tackle Resolution of Both Houses (RBH) No. 6, which calls for a Constitutional convention (Con-con) on Monday.

C agayan de Oro 2nd District Rep. Rufus Rodriguez, chairman of the House constitutional amendments committee, said the Senate Committee on Constitutional Amendments and Revision of Laws will conduct a public hearing on RBH 6, which calls for a Con-con that would propose changes in the Charter’s economic provisions.

According to Rodriguez, his Senate counterpart Sen. Robinhood Padilla,

House panel tackles Rep. Teves’ absence without official leave

has invited him to attend the hearing.

I will attend it. I will explain to senators and the public that our intention in our Charter change initiative, as repeatedly stated by Speaker Martin Romualdez, is to rewrite the economic provisions so the country could attract more foreign investments,” he said.

“

That is our only objective. We do not want the other parts of the Constitution to be touched,” the lawmaker added.

Rodriguez said the present “restrictive economic provisions [of the 1987 Charter] have been, to quote Fitch Solutions, ‘historically a challenge for foreign investors.’”

Based on the invitation sent by Padilla’s committee to Rodriguez, RBH No. 6 is the only item in the agenda of Padilla’s hearing.

Rodriguez said he would suggest

THE House Committee on Ethics and Privileges on Wednesday conducted a motu proprio investigation into the absence without official leave and appropriate travel authority of Negros Oriental Rep. Arnolfo Teves Jr.

Panel chairman Rep. Felimon Espares, in an executive session, will determine if Teves violated any rule

to Speaker Martin Romualdez that House Bill No. 7352, which was approved by an overwhelming vote on Tuesday, be immediately transmitted to the Senate for inclusion in Monday’s hearing.

He said he hoped the bill could be discussed along with RBH No. 6 in Padilla’s committee.

“In the bill, we are giving the constitutional convention seven months to finish its job. The deadline is the best proof that we want this effort to be limited to the economic provisions. Rewriting the other parts of the Charter would entail a longer, perhaps an open-ended period,” Rodriguez said.

He added that the seven-month deadline is enough for the envisioned Con-con to rewrite the economic provisions.

A mong the salient features of the

of the House of Representatives.

“[This hearing is] to determine if there is violation [in our rule] and of course to protect the image of the House,” he said.

“ [This is] not necessarily a marching order [from the Speaker] but then it’s just a discussion and that’s why we called this meeting for the members to take whatever

bill is the seven-month term of office of the convention, starting from December 1, 2023, up to June 30, 2024.

If they could do it in three months to five months, the better for the country, the less expense the convention would require,” Rodriguez added.

T he bill provides that a convention delegate would receive no salary but would be entitled to a P10,000 allowance for every day of attendance in the assembly or any of its committees.

Under HB 7352, Charter amendments to be endorsed by the proposed Con-con shall be submitted to the people for ratification in a plebiscite to be held not earlier than 60 days nor later than 90 days after the submission of the convention report to the President and Congress.

T he envisioned Con-con shall be composed of elected delegates, one

possible action we could make to protect the institution,” Espares explained.

A ccording to the Office of the Speaker, the travel clearance granted to Teves for his personal trip to the US lapsed last March 9, 2023.

W ith this, Speaker Martin Romualdez appealed to Teves to report for work as soon as possible

from each legislative district, to be voted on October 30, 2023.

T he Con-con shall also have sectoral representatives, comprising 20 percent of the total number of delegates, to be appointed jointly by the Senate President and the House Speaker.

T he appointed sectoral representatives shall include three retired members of the Judiciary, three from the academe, three from the legal profession, two economists, and two each from the business sector, labor, urban poor, farmers and fisherfolk, indigenous cultural communities, women, youth, veterans, cooperatives, senior citizens and persons with disability, and such other sectors as the Senate president and House Speaker may determine.

T he Senate Secretary and House Secretary-General shall initially con-

as his stay outside the country is no longer authorized by the House of Representatives.

“Cong. Arnie Teves got in touch with me through a phone call from an undetermined location. He expressed fear for the safety of his person and his family, saying this is the reason why he refuses to return home at this time,” said the Speaker.

vene and preside over the Con-con at 10 in the morning at the Philippine International Convention Center on December 1, 2023, until it has elected its president and presiding officer.

A Con-con delegate shall enjoy the same parliamentary immunity accorded to a member of Congress. The Senate, the House, and other government agencies shall make available personnel, facilities, equipment, or office space needed by the convention without hampering public service.

T he Con-con shall submit its report to the President, Congress, and Comelec within 30 days after the completion of the proposed amendments, or on June 30, 2024. Funding for the convention shall initially be charged against any available appropriations in the 2023 national budget and subsequently included in next year’s budget proposal.

Romualdez also assured Teves that as the political and administrative leader of the House, he would exert all efforts to ensure the personal safety of all members.

Teves was tagged by one of the suspects in the recent killing of Negros Oriental Gov. Roel Degamo and eight of his constituents.

Jovee Marie N.  Dela Cruz

Rep. Co to govt agencies: Avoid poll ban spending, rainy season delays

By Jovee Marie N. Dela Cruz  @joveemarie

A ko Bicol Rep. Elizaldy Co, chairman of the appropriations committee, reminded that spending the national budget could provide jobs to the unemployed Filipinos.

“

Last January, the first month of the 2023 General Appropriations Act, the country’s economy had 4.09 million more employed workers than the 43.27 million employed in January 2022. In other words, 4.09 million found work or work found them. They were unemployed before but were no longer jobless last January,” he said.

These job figures confirm how the economy is recovering from the pandemic, and I credit some of that

to the 2022 national budget. Those January 2023 employment figures also serve as a good springboard for this year’s budget to follow through on what last year’s budget was able to restart,” he added.

A ccording to Co, most of the over P5-trillion national budget can give jobs to the unemployed, including the 334,000 construction workers who were jobless in January 2023 because they were not hired during the 2022 year-end seasonal dip in government spending. I remind the departments and other agencies with infra funds to obligate and spend those funds this year, and any infra funds obligated last year but not yet spent

should also be spent in 2023,” said the lawmaker.

I also remind all departments and agencies to make sure they avoid the election spending ban that comes with the Barangay and SK Elections in October this year and the rainy season that comes from July to September, while also following the  government procurement law and regulations,” he added.

T he lawmaker said government agencies should apply lessons learned by improving absorptive capacity and spending in those months where spending and projects could be hampered.

We are already in the month

of March, which means the government agencies have April, May, and  June and then from November to December for the infrastructure, and another major spending,” he said.

D uring the budget hearings, Co said members of Congress kept noting the billions worth of projects and programs delayed and not implemented.

We should have much fewer delays and non-implementation this year,” he said.

But the time the 2024 budget hearings get underway next August, we expect accomplishment reports, not apologies and excuses,” Co stressed.

DBM lauds House passage of rightsizing bill, says measure may still require consultation

By Jasper Emmanuel Y. Arcalas @jearcalas

THE Department of Budget and Management (DBM) said

the passage of the rightsizing bill entails necessary public consultations, even as the agency hailed the approval of the legislative measure by the House of

Representatives recently. In a statement, the DBM said the timely passage of the rightsizing law is necessary in achieving the current

administration’s “vision of a lean, efficient and responsive government workforce.”

Earlier this week, the House of Representatives endorsed for

institutional capacity to perform its mandate and provide better services while ensuring optimal and efficient use of resources,” the DBM added.

T he DBM said it will continue to “closely work” with senators and “cooperate” with Congress in ensuring the passage of the rightsizing bill into law.

Senate approval the legislative measure that would implement a rightsizing program in the national government (NG), which is expected to result in P14.8 billion in savings.

T he DBM explained that the NG Rightsizing Program (NGRP) will streamline the NG’s agencies through “regularization, merging, restructuring, abolition, or transfer of government agencies to create a more efficient bureaucracy.”

“ This will enable the government to save a significant amount of budget, which may be used to fund priority projects such as much-needed infrastructure, social services, programs in the health sector, agriculture, among others,” the DBM said.

Rightsizing will, likewise, upgrade the government’s

It is also important to note that the measure will involve public discussions and consultations,” it said. We are one step closer to making the bill a reality, with the strong support of our hardworking legislators, who share the Chief Executive’s vision of a wellfunctioning government that ensures quick and responsive delivery of public services,” it added.

Earlier, Budget Secretary Amenah F. Pangandaman expressed confidence that a law to rightsize the government would be passed within the year. “ If the rightsizing [law] will be passed within the year, then we can start it already,” Pangandaman added.

T he budget chief noted that the rightsizing law is among the administration’s priority measures and part of the common legislative agenda (CLA) of the executive and legislative branches of government.

THE chairman of the House Committee on Appropriations on Wednesday reminded government agencies with ongoing infrastructure projects to make sure they avoid election-spending ban that comes with the Barangay and Sangguniang Kabataan Elections in October as well as rainy season delays.

PANGANDAMAN

TWO vehicles bearing the same plate number are registered in the foreign-made information technology (IT) platform of the Land Transportation Office (LTO)—the Land Transportation Management System (LTMS).

T his was discovered when a private vehicle owner from Cebu City, Cecil Labang was barred from renewing the registration of her Toyota Avanza with plate number NEU 1976.

According to media reports, Labang sought the assistance of the Highway Patrol Group-Central Visayas (HPG7) after the LTO found in its database that another Toyota Avanza but with a different color carried the same plate number as hers. Labang purchased her vehicle through an auto dealer in Cebu City last year and was able to register it with the LTO.

Meanwhile, the other vehicle owner, who refused to divulge his identity, claimed that he also bought his vehicle from the same auto trader. He only learned that his plate number was registered with another vehicle when his application for an RFID sticker to access the Cebu-Cordova Link Expressway was denied due to a double entry of plate number.

The HPG-7 initially reported that the double plate incident is a possible scheme of criminals from Luzon, and that one of the two vehicles might be stolen. LTO-7 Regional Director, Victor Caindec already committed to cooperating with the HPG’s investigation.

Following the incident, Facebook users who commented on the post of Cebu-based media outlet, The Freeman, slammed LTO for the failure of its system to detect the registration of the “clone plate number.” Facebook user, Tita Merz said, “Everything is online already, thus, duplication should not happen.” They also hit the agency for its “continuous incompetence,” and “corruption.”

T his is not the first time that the LTMS had inaccuracies in its database. It can be recalled that a vehicle owner was prohibited from renewing his driver’s license due to a motorcycle violation reflected in his LTMS account. In an interview with GMA 7’s 24-Oras in August 2022, complainant Leonyl Salvador said he was surprised to see an unpaid motorcycle violation in the LTMS, which occurred in 2018 in Iloilo. But Salvador claimed that he does not drive a motorcycle and had never been to Iloilo.

In October 2022, a rundown truck that was towed by the Metropolitan Manila Development Authority (MMDA) in Quezon City shocked authorities when they found out that it has a valid LTO registration. This prompted LTO to investigate how worn-out vehicles can pass the registration process without being detected by the LTMS.

T he LTMS is connected with the controversial Private Motor Vehicle Inspection Centers (PMVIC) that conducts a 70-point test for vehicles prior to renewal of registration.

Just recently, transport groups led by the National Confederation of Tricycle Operators and Drivers Association of the Philippines (NACTODAP) asked the Department of Transportation (DOTr) to suspend the operations of PMVICs until the issues on its legality, pricing, and standardization have been resolved.

N ACTODAP President Ariel Lim also slammed the unreasonable shutting down of Private Emission Testing Centers (PETC) to give way to PMVICs. Lim revealed that numerous motorists could not renew the registration of their vehicles due to the scarce number of PMVICs. While others, especially those living in far-flung islands and provinces are forced to spend more time and money on a vehicle test. According to the DOTr, there are only 99 PMVICs that are currently operating nationwide.

It can be recalled that the LTMS is part of the P3.19-billion Road IT Infrastructure project of the LTO that was awarded to the Joint Venture Agreement of German IT firm, Dermalog, and its local partners in May 2018. The project has been repeatedly flagged by the Commission on Audit due to delays and alleged undue payments.

S enate Minority Floor Leader Aquilino “Koko” Pimentel III has already filed a resolution in August 2022, urging the Senate Blue Ribbon Committee to investigate the alleged undue payments of the LTO to its foreign contractor despite the incomplete turnover of deliverables as reported in the 2021 COA report.

T he said COA report disclosed that all core applications within the LTMS, such as the Driver’s Licensing System (DLS) and the Motor Vehicle Inspection and Registration System (MVIRS) were already paid despite having several glitches and performance issues.

SC upholds DOTr order on fines against ‘colorum’ PUV operators, erring drivers

By Joel R. San Juan @jrsanjuan1573

THE Supreme Court (SC) has declared constitutional the orders issued by Department of Transportation (DOTr) and the Land Transportation Office (LTO) imposing higher fines against operators of “colorum” vehicles and erring drivers.

In a 69-page decision penned by Associate Justice Jhosep Lopez, the Court en banc held that the imposition of higher fines against erring motorists and operators of public utility vehicles (PUVs) under LTO Department Order (DO) No. 200839 and its amended version Joint Administrative Order (JAO) No. 2014-01 are necessary to promote public safety and welfare.

LTO DO 2008-39, which came to effect in March 2009, imposes a penalty of P5,000 on drunk drivers

and P10,000 on drivers under the influence of drugs.

It also imposes fines of P1,500 for driving without license; P400 for driving with an expired license; P2,000 for possessing a fake driver’s license; P3,000 for conviction for a crime perpetrated with the use of a motor vehicle; and P6,000 for driving a public utility vehicle out of line.

T he order also imposes a fine of P50,000 on public utility jeepneys plying the routes without franchise; P6,000 for motorcycles; P120,000 for sedans; P200,000 for vans; and up to P1 million for buses.

T he operators’ certificate of public convenience  (CPC) and registration will also be revoked and their vehicles will be impounded for three months.

However, the SC declared, “To aggravate the already pernicious nature of the roads is the proliferation of colorum vehicles. As their

continued conduct absent requisite authority immeasurably endanger the lives of the riding public, it is necessary for the State, pursuant to its police power devolving unto the DOTC [now Department of Transportation or DOTr] and its agencies, to place reasonable restrictions in the form of higher fees and stricter penalties upon the operation of motor vehicles.”

T he ruling stemmed from the consolidated petitions filed by various operators, drivers and various transport groups assailing the constitutionality of the said orders.

T he petitioners include Angat Tsuper Samahan ng Mga Tsuper At Operator ng Pilipinas (Angat Tsuper/Stop and Go) and its affiliate groups; Maria Basa Express Jeepney Operators and Drivers Association Inc.; Pagkakaisa ng mga Samahan ng Tsuper at Operators Nationwide (Piston); Ximex Delivery Express

Inc.; National Confederation of Transport Workers Inc. and its affiliate groups.

T hey named the Department of now DOTr, Land Transportation Office and Land Transportation Franchising and Regulatory Board as respondents.

T he petitioners argued that DO No. 2008-39 and JAO No. 2014-01 are unconstitutional for being arbitrary, unreasonable, excessive, confiscatory and oppressive considering that the income of PUV drivers and operators ranged from P100 to P500 per day only.

T hey added that the orders were issued in violation of their constitutional right to due process and equal protection clause.

T he petitioners also insisted that the orders are unconstitutional for being an invalid exercise of police power and for being vague and overbroad.

NBI ops

in Manila and QC yield ‘fake’ flour, packaging

THE National Bureau of Investigation (NBI) on Monday confiscated over a thousand sacks of counterfeit branded wheat flour following a raid of several warehouses in Manila and Quezon City.

NBI agents conducted the raid in Sampaloc, Manila and Novaliches, Quezon City based on a search warrant issued by Manila Regional Trial Court Presiding Judge Rainelda Estacio-Montesa.

Found and confiscated during the search were over 1,100 sacks of counterfeit Washington Gold Hard Wheat Flour packed in polypropylene sack or cotton sack and 145 restitched and resacked original sacks containing different flour.

A certain Alan, caretaker of the Novaliches warehouse, claimed the sacks were bought from the Divisoria Market but failed to identify the

House bill grants scholarship, offers government job to aspiring lawyers

By Jovee Marie N. Dela Cruz  @joveemarie

TO address the shortfall of practicing lawyers in the country, aspiring lawyers can complete their legal education for free in state universities and colleges (SUCs) in exchange for working in the government for two years after they pass the Bar exams.

In filing House Bill (HB) 7433, Davao City Rep. Paolo Duterte, Benguet Rep. Eric Yap and ACT-CIS Partylist Rep. Edvic Yap said this shortfall of lawyers “undermines the legal representation of every Filipino, and overall, the national justice system.”

Under the bill, all SUCs with a law program accredited by the Legal Education Board (LEB) are qualified to offer free legal education, but should create mechanisms to ensure that this does not apply to students with the financial capacity to pay for their studies.

T he bill’s authors pointed out graduate studies, such as medical and legal education are excluded from the coverage of the Universal Access to Quality Tertiary Education Act (Republic Act No. 10931), which institutionalizes free tuition and exemption from other school fees in SUCs and local universities and colleges (LUCs).

W hile the Doktor Para sa Bayan

Brooke’s Point RTC issues TRO vs mining project protesters

seller. Following the seizure of the fake products, Goldepost General Merchandising (or Gold Post General Merchandise or Gouldpost) and Godsway Marketing (or God’s Way Trading) could be held liable for alleged violation of Republic Act No. 8293 or Trademark Infringement Act.

Washington Gold Hard Wheat Flour is an original product of Philippine Foremost Milling Corporation (PFMC), one of the country’s biggest flour millers.

E arlier, PFMC received complaints from its bakery customers of alleged quality issues on one of its popular flour products, the Washington Gold Hard Wheat Flour. The company immediately conducted an investigation and discovered that the flour delivered to the said bakeries were fake PFMC Washington Gold Hard Wheat Flour products.  PFMC noted that while the 25-kilo

sacks of flour bore PFMC’s trademark, the printing of the label and the sacks used were of poor quality. Laboratory tests also confirmed that the flour inside the sacks were not real PFMC Washington Gold Hard Wheat Flour.

PFMC said the supplier of these fake products clearly intended to cheat and deceive bakeries into believing that they were purchasing PFMC’s high quality flour. Thus, sellers of these fake products could be held liable for trademark infringement and unfair competition, aside from violating the Consumer Act of the Philippines, the Food and Drugs Administration Act, and other laws.

“PFMC advises its customers to purchase flour only from authorized or reputable vendors that sell authentic PFMC flour for best quality bread,” the firm said.

Zambales pours ₧62M into ‘human infra’ devt

Act (RA 11509) was already enacted to offer the Medical Scholarship and Return Service (MSRS) program to deserving students, there is still no law that mandates scholarships for legal education and the corresponding return service program, they added.

“Our proposal, which is consistent with programs that advocate public service to graduates, includes a mandatory two-year return service program for scholars after passing their bar exams, in a bid to encourage more lawyers to serve in government,” Duterte said.

T he Integrated Bar of the Philippines (IBP) estimates that there are about 40,000 lawyers in the country, while the Foundation for Economic Freedom (FEF) reported that there is roughly only one lawyer for every 2,500 Filipinos. This is a relatively low figure compared to the United States, which has one lawyer for every 240 citizens.

Moreover, not all lawyers in the country are engaged in law firm work. Many lawyers work in corporations, or are in private business, the academe, or politics. Under HB 7433, the Free Legal Education Program will be open to all Filipino students either currently enrolled in the Juris Doctor program or shall enroll at any time after the effectivity of the measure, provided

they pass the entrance examinations and other admission and retention requirements of the SUCs where they are, or plan to be admitted.

Scholars under the program must carry a full load of subjects prescribed per semester by the SUC, and should not drop a course. They are required to finish the degree within the SUC’s prescribed time frame, but are allowed to file a leave of absence for valid and justifiable reasons.

T hey should also take the Bar examination within a maximum period of one year after completion of their Juris Doctor degree.

On top of tuition and student registration fees, the proposed Free Legal Education Program under HB 7433 also covers Bar exam and licensure fees; library fees; and expenses for prescribed books on a reimbursement basis as determined by the LEB upon consultation with stakeholders.

W ithin four years of passing the bar exams and conferment of a license to practice law, the scholar should render a mandatory twoyear return service to the government in the Public Attorney’s Office (PAO) or any government agency lacking lawyers, according to the bill. The scholar shall receive the appropriate salaries and other benefits for rendering the mandatory return service.

By Henry Empeño Correspondent

IBA, Zambales—The Zambales provincial government’s longterm capability-building program to improve “human infrastructure” here continues to make headway, with some P62 million allocated thus far in educational assistance to local students in the past four years.

G overnor Hermogenes E. Ebdane Jr. said the assistance is given to poor students who have good scholastic standing under the “Handog Edukasyon” project, which is funded through donations from some senators and provincial government allocations.

Figures from the Zambales provincial government showed a total of P54.49 million in total payouts given to 34,202 student-beneficiaries from 2019 to 2022.

T his year, the provincial government had so far distributed more than P7.44 million to students in various schools in the province.

T he assistance comprised cash payouts that students, including those taking up master’s and doctorate degrees, would need for matriculation fees and other incidentals for enrolment.

This assistance is very much a critical part of our program to build

the so-called human infrastructure in Zambales. And it’s the only viable way to develop adequate human capital by means of improving the education, skills, qualification, and experience of the populace,” Ebdane explained.

We might be building a lot of physical infrastructures like roads, markets and other facilities needed for economic growth, but if we didn’t invest similarly in human infrastructure, then all of these would amount to nothing. All these projects would simply fail,” the governor added.

T he biggest dole-out given in the past four years totaled P10.69 million for 3,505 students in Masinloc town; P10.66 million for 3,511 beneficiaries in Botolan; P10.49 million for 2,099 masteral students; and P5.75 million for 2,773 students in Subic.

M eanwhile, the biggest to be given as yet in 2023 was P2.12 million for 1,041 students of the Polytechnic College of Botolan; P2.27 million for 456 students taking up master’s courses; and P1.37 million for 137 students getting doctorate studies.

Program coordinators said the assistance given to college students consists of P2,000 cash that were handed out in scheduled payouts in various schools.

By Jonathan L. Mayuga @jonlmayuga

ATEMPORARY Restraining Order (TRO) was issued by a local court in Brooke’s Point, Palawan against an ongoing protest on the operation of the Ipilan Mining Corporation in the municipality.

RTC Branch 165 Presiding Judge Ramon Chito R. Mendoza issued the TRO in favor of Ipilan, which is now calling on the local government of Brooke’s Point to act against the harassment allegedly perpetrated by the protesters.

T he protesters, led by Pastor Job Lagrada, Dominador Magdaluyo, and Marcelo Polmones who were named respondents to the civil case, were accused of blocking the mine haul roads of the company for weeks, prohibiting the company from conducting its nickel mining operation.

T he TRO, essentially, prohibits the protesters from stopping, apprehending, searching, obstructing, or even approaching miners entering or exiting the mine using the access roads in the area.

In a statement, Ipilan maintained that as a company that adheres to the scientific, ethical, and regulatory framework, INC welcomes the court’s ruling that it says reinforces its core values.

“As such, INC [Ipilan Nickel Corporation] is urging Brooke’s Point Mayor Cesar R. Benedicto Jr., to demonstrate his sworn duty by leading the court personnel and the Philippine National Police contingent in implementing the court order peacefully and promptly,” Alex Arabis, resident mine manager said.

“As a good corporate citizen, we are complying with legal procedures and exploring all lawful and peaceful options against the threats and intimidation tactics used by propagandists and saboteurs,” he added.

A rabis said INC continues to remain dedicated to fostering private productive relationships with all of its stakeholders.

A joint undertaking between the government and INC, the Ipilan Nickel project in Brookes Point is critical to achieving sustainable economic recovery and genuine environmental protection, said INC.

I NC currently provides employment to over 1,500 workers, wherein 90 percent are residents of Brooke’s Point.

I NC added that Indigenous Peoples are also well represented as they make up 28 percent of the total workforce.

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Hundreds dead as Cyclone Freddy wrecks Malawi and Mozambique

By Vitus-Gregory Gondwe & Wanjohi Kabukuru The Associated Press

More clashes in Pakistan as police try to arrest former PM Imran Khan

By Babar Dogar & Munir Ahmed

The Associated Press

LAHORE, Pakistan—Sup -

porters of former Pakistani

Prime Minister Imran Khan threw bricks at police who fought back with clubs and tear gas for a second day Wednesday after officers tried to arrest the ousted premier for failing to appear in court on graft charges.

Police have been besieging the 70-year-old opposition leader’s house in the eastern city of Lahore since Tuesday while his supporters hurled rocks and bricks, and swung batons snatched from the officers.

Violence was also reported between Khan’s supporters and police in other major cities, including Karachi, Islamabad, the garrison city of Rawalpindi, Peshawar, Quetta and elsewhere in Pakistan. The government was sending additional police to tackle the situation in Lahore’s upscale area of Zaman Park, where Khan lives.

Early Wednesday, Khan emerged from his house to meet with his supporters, who had faced tear gas and police batons through the night to save him from arrest. He said he was ready to travel to Islamabad on March 18 under his arrest warrant, but police did not accept the offer.

The confrontation outside continued and later, Khan posed for cameras seated at a long table, showing off piles of spent tear gas shells he said had been collected from around his home.

“What crime did I commit that my house has been attacked like this,” he tweeted.

Fawad Chaudhry, a senior party leader from Khan’s party claimed Wednesday that hundreds of Khan’s supporters were injured so far.

At the Islamabad High Court, Khan’s lawyer Khawaja Haris and his team petitioned for the suspension of the arrest warrant for the former premier. The court was

expected to issue a ruling about the suspension later Wednesday.

On Tuesday, about a dozen police and some 35 of Khan’s supporters were reported injured as tear gas shells and pieces of bricks littered the pavement as Khan’s followers fought back with batons they had brought to resist police.

The Punjab provincial government in a statement Wednesday said more than 100 police officers were injured in clashes with Khan’s supporters. They denied Khan’s allegation that officers were using live ammunition.

Khan, who was ousted in a noconfidence vote in Parliament in April, was ordered to appear before a judge in Islamabad on Friday to answer charges of illegally selling state gifts he had received during his term as premier and concealing his assets.

The former premier has avoided appearances before the court since November, when he was wounded in a gun attack at a protest rally in eastern Punjab province, claiming he was not medically fit to travel from Lahore to Islamabad to face indictment.

Last week, he went to Islamabad to appear before three courts, but he failed to appear before the fourth court to face indictment in the graft case, which is a legal process for starting his trial.

Khan has claimed that the string of cases against him, which includes terrorism charges, are a plot by the government of his successor, Prime Minister Shahbaz Sharif, to discredit the former cricket star turned Islamist politician.

From his home, Khan urged his followers on Tuesday to fight on even if he is arrested. “They think this nation will fall asleep when Imran Khan is jailed,” he wrote on Twitter. “You need to prove them wrong.”

On Wednesday, he tweeted that there was a plot “to abduct & assassinate” him.

Ahmed reported from Islamabad

Australia’s submarine push runs into neighbors’ worries

By Ben Westcott

AUSTRALIA has embarked on a diplomatic campaign to ease regional concerns over its acquisition of a fleet of nuclear submarines under the Aukus agreement, as Malaysia warned against potentially unleashing an “arms race” in the Asia-Pacific.

Prime Minister Anthony Albanese will visit Fiji on Wednesday for his first meeting with newly elected leader Sitiveni Rabuka. Australian Chief of Navy Mark Hammond is also expected to travel to Singapore and Indonesia to brief the nations’ leaders on the Aukus plan that was unveiled in the US on Monday.  The Aukus security deal—Aus -

Heavy rains that triggered floods and mudslides have killed 199 people in Malawi, authorities said Tuesday. President Lazarus Chakwera declared a “state of disaster” in the country’s southern region and the now-ravaged commercial capital, Blantyre. Some 19,000 people in the south of the nation have been displaced, according to Malawi’s disaster management directorate.

“Power and communications are down in many affected areas, hindering aid operations,” said Stephane Dujarric, the UN Secretary General’s spokesperson at a press briefing Tuesday afternoon. The most affected regions remain inaccessible so the full extent of the damage is so far unknown.

Reports from Mozambique’s disaster institute on Tuesday confirmed that 20 people have died in the country and 1,900 homes have been destroyed in the coastal Zambezia province. Tens

of thousands of people are still holed up in storm shelters and accommodation centers.

Freddy will continue to thump central Mozambique and southern Malawi with extreme rainfall before it exits back to the sea late Wednesday afternoon, the UN’s meteorological center on the island of Réunion projected.

Human rights group Amnesty International has called on the international community to mobilize resources and boost aid and rescue efforts in the two countries. Relief efforts in the nations are strained and were already battling a cholera outbreak when Freddy struck.

“It is clear that the official death toll will rise in both Malawi and Mozambique, as will reports of wrecked infrastructure,” said Tigere Chagutah, Amnesty International’s east and southern Africa director. “The affected countries

must also be compensated for loss and damage caused by the cyclone.”

In November last year, nations agreed to compensate countries affected by extreme weather exacerbated by human-caused climate change. Cyclones are wetter, more frequent and more intense as the planet heats up, scientists say.

“Mozambique and Malawi are among the countries least responsible for climate change, yet they are facing the full force of storms that are intensifying due to global warming driven mostly by carbon emissions from the world’s richest nations,” Chagutah added.

Cyclone Freddy has been causing destruction in southern Africa since late February. It also pummeled the island states of Madagascar and Réunion last month as it traversed across the

Indian Ocean.

The cyclone has intensified a record seven times and has the highest-ever recorded accumulated cyclone energy, or ACE, which is a measurement of how much energy a cyclone has released over time. Freddy recorded more energy over its lifetime than an entire typical US hurricane season.

Freddy first developed near Australia in early February and is set to be the longest-ever recorded tropical cyclone. The UN’s weather agency has convened an expert panel to determine whether it has broken the record set by Hurricane John in 1994 of 31 days.

A lexandre Nhampossa and Tom Gould contributed to this report from Maputo, Mozambique. Kabukuru reported from Mombasa, Kenya

South Korea’s Yoon says Japan deal could help supply chains for chips

By Jeong-Ho Lee, Sohee Kim & Heejin Kim

SOUTH KOREA’s president sees a deal to end a feud with Japan opening the way to better business ties between the neighbors that could bolster global supply chains of semiconductors and steady their economic relations with China.

“If Korea and Japan—both global trade powerhouses and manufacturing industry leaders—work together on technology, I expect that it will create an enormous synergy,” Yoon Suk Yeol said in joint written interview with Bloomberg, the Associated Press, Agence FrancePresse, Reuters and Kyodo News that was released Wednesday.

Yoon said.

tralia, the UK and US—is part of a broader drive by Washington and its allies to boost their military assets in the Asia-Pacific region. The Biden administration is aiming to send a signal to China that the US will respond to Beijing’s push to reclaim land and build military installations on disputed islands and atolls across the South China Sea.

Albanese attended the announcement in San Diego on Monday alongside President Joe Biden and Prime Minister Rishi Sunak, ending 18 months of speculation about Australia’s nuclear submarine fleet following the signing of Aukus in September 2021.

Continued on A12

Yoon is set to start a two-day trip to Tokyo from Thursday where he will push to implement what could be a landmark deal on compensation for Koreans forced to work at mines and factories during Japan’s 1910-1945 colonial occupation of the Korean Peninsula. Friction over compensation had disrupted ties ranging from trade to security.

President Joe Biden’s administration welcomed the deal. The US has been seeking help from major chipmakers to secure supply chains that are less reliant on China as well as impose sweeping curbs on the sale of advanced semiconductor equipment to prevent the world’s second-largest economy’s progress in a range of cutting-edge technologies that could threaten America’s status as the world’s preeminent power.

“Stronger economic cooperation between Korea and Japan will likely contribute greatly to boosting global supply chains,”

Under Yoon’s plan for the colonial-era workers, South Korean companies, rather than Japanese ones, would finance a foundation to pay Koreans conscripted into labor. Japan has indicated it could roll back export controls that came into effect a few years ago as the feud flared, which could help secure supplies of crucial materials for South Korea’s chipmakers.

Firms tapped to pay would include beneficiaries from funds transferred under a 1965 treaty intended to resolve forced labor issues and wartime disputes between Japan and South Korea, such as Posco Holdings Inc. Japan has said South Korean court rulings on the workers unjustly awarded compensation and the issue was “settled completely and finally” under the agreement that normalized relations nearly 60 years ago.

“Both Korea and Japan also have close economic ties with China respectively,” Yoon said. “I believe that strengthening Korea-

Japan cooperation will help our two countries advance economic relations with China in a stable manner.”

He said there was an increasing need for cooperation with Tokyo due to threats posed by the likes of North Korea, which have the potential to rattle security and global markets.

North Korea regards Japan, South Korea and the US as its mortal enemies, and leader Kim Jong Un has been bolstering his state’s ability to deliver a nuclear strike that could hit the neighbors and deliver a warhead to the American mainland.

Yoon said the current North Korean nuclear situation is different from the past, and threatens peace and security on the Korean Peninsula and beyond. He said cooperation among his country, Japan and the US was more important than ever, and Seoul will continue to press Kim to abandon his atomic ambitions.

Yoon also said the US was not a part of the deal to remedy the forced labor issue.

“Since the complete denuclearization of North Korea is the clear and unchanging goal of the international community, the Republic of Korea will never acknowledge North Korea as a nuclear state under any circumstances,” Yoon said, referring to his country by its formal name.

His neighbor to the north is experiencing food shortages that have grown worse in some regions and led to deaths, Yoon said, adding Seoul is ready to provide humanitarian aid.

Resolving the feud on labor has become more urgent for the US and its allies as they attempt to present a more united front against China and North Korea in the wake of Russia’s full-scale invasion of Ukraine. Yoon and Japanese Prime Minister Fumio Kishida have sought to show their support for greater cooperation on security issues, with both leaders attending North Atlantic Treaty Organization meetings last year and publicizing joint military drills.

Next month, the South Korean leader will visit Biden at the White House, where talks are expected to focus on sweeping US export controls unveiled in October that prevent chipmakers from sending advanced equipment to facilities in China.

Without a license extension, it is unclear how South Korean giants Samsung Electronics Co. and SK Hynix Inc. would proceed in the world’s No. 2 economy. Both firms depend on China as a key market and a manufacturing site for their memory chips.

“I look forward to trust-based relations formed through technological cooperation between Korea and Japan contributing to stabilizing the international economic order,” Yoon said. Bloomberg News

BLANTYRE, Malawi—The devastating Tropical Cyclone Freddy that has ripped through southern Africa in a rare second landfall has killed at least 219 people in Malawi and Mozambique since Saturday night, with the death toll expected to rise.

A ROAD connecting the two cities of Blantyre and Lilongwe is seen damaged following heavy rains caused by Tropical Cyclone Freddy in Blantyre, Malawi on Tuesday, March 14, 2023. The unrelenting cyclone that is currently battering southern Africa has killed at least 219 people in Malawi and Mozambique since it struck the continent for a second time on Saturday night, authorities in both countries have confirmed. AP/THOKO CHIKONDI

A SUPPORTER of former Prime Minister Imran Khan hurls back a tear gas shell fired by riot police officers to disperse them during clashes in Lahore, Pakistan on Wednesday, March 15, 2023. Clashes between Pakistan’s police and supporters of Khan continued outside his home in the eastern city of Lahore on Wednesday, a day after officers went to arrest him for failing to appear in court on graft charges. AP/K.M. CHAUDARY

YOON SUK YEOL BLOOMBERG

The World

US says Russian warplane hits American drone over Black Sea

By Karl Ritter The Associated Press

Traders worldwide herald end to rate hikes after US bank run

By Garfield Reynolds & Alice Gledhill

GLOBAL bond markets have declared that the steepest global monetary tightening campaign in a generation has nearly run its course.

In the span of days, traders have dramatically unwound bets on further rate hikes and current pricing shows the Federal Reserve is likely going to increase rates twice more at most. It’s a similar picture in the UK, where investors are pricing 50 basis points of tightening over the next four meetings, half of what was baked in last week.

turbocharged concern that policymakers’ efforts to quash inflation—led by the Fed’s 4.5 percentage points of rate hikes in the space of a year—will tip economies into recession.

US yields climbed on Tuesday, paring some of yesterday’s retreat. On Monday, two-year rates fell by more than half a percentage point in the biggest move since the 1980s.

Money mark ets see the central bank’s upper bound peaking at 5.15 percent by May, before coming down to 4.65 percent by the end of the year, according to swaps tied to policy dates.

But Russia insisted its warplanes didn’t hit the MQ-9 Reaper drone. Instead, it said the drone maneuvered sharply and crashed into the water following an encounter with Russian fighter jets that had been scrambled to intercept it near Crimea.

The incident, which added to Russia-US tensions over Moscow’s war in Ukraine, appeared to be the first time since the height of the Cold War that a US aircraft was brought down after an encounter with a Russian warplane.

US President Joe Biden was briefed on the incident by national security adviser Jake Sullivan, according to White House national security spokesman John Kirby. He added that US State Department officials would be speaking directly with their Russian counterparts and “expressing our concerns over this unsafe and unprofessional intercept.”

State Department spokesman Ned Price called it a “brazen violation of international law.” He said the US summoned the Russian ambassador to lodge a protest and the US ambassador to Russia, Lynne Tracy, has made similar representations in Moscow.

The US European Command said two Russian Su-27 fighter jets intercepted the drone while it was operating within international airspace. It said one of the Russian fighters struck the propeller of the MQ-9, causing US forces to bring it down in international waters.

Prior to that, the Su-27s dumped fuel on the MQ-9 and flew in front of it several times in “a reckless, environmentally unsound and unprofessional manner,” the US European Command said in a statement from Stuttgart, Germany. “This incident demonstrates a lack of competence in addition to being unsafe and unprofessional,” it added.

US Air Force Gen. James B. Hecker, commander of US Air Forces Europe and Air Forces Africa, said the MQ-9 aircraft was “conducting routine operations in international airspace when it was intercepted and hit by a Russian aircraft, resulting in a crash and complete loss of the MQ-9.” He added that “in fact,

this unsafe and unprofessional act by the Russians nearly caused both aircraft to crash.”

Pentagon spokesman Air Force Brig. Gen. Pat Ryder said the incident occurred at 7:03 a.m. Central European time (0603 GMT; 2:03 a.m. EST) over international waters, and well clear of Ukraine, after the Russian jets had flown in the vicinity of the drone for 30 to 40 minutes. There did not appear to be any communications between the aircraft before the collision, Ryder added.

The MQ-9 includes a ground control station and satellite equipment and has a 66-foot (20-meter) wingspan. It is capable of carrying munitions, but Ryder would not say whether it was armed. The US had not recovered the crashed drone, US Air Forces-Europe said in a statement, and neither had Russia, Ryder said.

He said it appeared the Russian aircraft also was damaged in the collision, but the US has confirmed that it did land, although Ryder would not say where.

Russia’s Defense Ministry said the US drone was flying over the Black Sea near Crimea and intruded in an area that was declared off limits by Russia as part of what it calls its “special military operation” in Ukraine, causing the military to scramble fighters to intercept it.

“As a result of a sharp maneuver, the MQ-9 drone went into unguided flight with a loss of altitude and crashed into the water,” it said.

“The Russian fighters didn’t use their weapons, didn’t come into contact with the unmanned aerial vehicle, and they safely returned to their base.”

The Russian ambassador to Washington, Anatoly Antonov, described the US drone flight as a “provocation” and argued that there was no reason for US military aircraft and warships to be near Russia’s borders.

Speaking after meeting with US Assistant Secretary of State for Europe Karen Donfried, Antonov insisted that the Russian warplanes didn’t hit the American drone or fire their weapons. He added that Moscow wants “pragmatic” ties with Washington, adding that “we don’t want

any confrontation between the US and Russia.”

Moscow has repeatedly voiced concern about US intelligence flights close to the Crimean Peninsula, which Russia seized from Ukraine in 2014 and illegally annexed. The Kremlin has charged that by providing weapons to Ukraine and sharing intelligence information with Kyiv, the US and its allies have effectively become engaged in the conflict.

Kirby emphasized that the incident wouldn’t deter the US from continuing its missions in the area.

“If the message is that they want to deter or dissuade us from flying, and operating in international airspace, over the Black Sea, then that message will fail,” Kirby said. “We’re going to continue to fly and operate in international airspace over international waters. The Black Sea belongs to no one nation.”

The US European Command said the incident followed a pattern of dangerous actions by Russian pilots while interacting with US and allied aircraft over international airspace, including over the Black Sea.

“These aggressive actions by Russian aircrew are dangerous and could lead to miscalculation and unintended escalation,” it warned.

Gen. David Berger, commandant of the Marine Corps, said this type of collision is his greatest concern, both in that part of Europe as well as in the Pacific.

“Probably my biggest worry both there and in the Pacific is an aggressive Russia or China pilot or vessel captain, or something gets too close, doesn’t realize where they are, and causes a collision,” Berger said, in response to a question at a National Press Club event Tuesday.

As fighting continued in Ukraine, a Russian missile struck an apartment building Tuesday in the eastern city of Kramatorsk, killing at least one person and wounding nine others in one of the major urban strongholds the

Donetsk region.

Ukrainian President Volodymyr Zelenskyy posted a video showing gaping holes in the façade of the low-rise building, which bore the brunt of the strike that damaged nine apartment blocks, a kindergarten, a bank branch and two cars, said regional Gov. Pavlo Kyrylenko.

Russian President Vladimir Putin, speaking with workers at a helicopter factory in southern Siberia, again cast the conflict in Ukraine as an existential one for Russia.

“For us, it’s not a geopolitical task,” Putin said, “it’s the task of survival of Russian statehood and the creation of conditions for the future development of our country.”

Russia had welcomed a Chinese peace proposal, but Kremlin spokesman Dmitry Peskov said Kyiv’s refusal to talk leaves Moscow with only military options.

“We must achieve our goals,” Peskov told reporters. “Given the current stance of the Kyiv regime, now it’s only possible by military means.”

The Russian onslaught has focused on the devastated eastern city of Bakhmut, where Kyiv’s troops have been fending off attacks for seven months and which has become a symbol of resistance, as well as a focal point of the war.

Zelenskyy discussed Bakhmut with the military brass and they were unanimous in their determination to face down the Russian onslaught, according to the presidential office.

“The defensive operation in (Bakhmut) is of paramount strategic importance to deterring the enemy. It is key for the stability of the defense of the entire front line,”

C.

Australia’s submarine push runs into neighbors’ worries

In the lead-up to the ceremony, Albanese and his leadership team, including Foreign Minister Penny Wong, made more than 60 calls to regional leaders to brief them on the plan, including Indian Prime Minister Narendra Modi.  Initial reactions were mixed to Australia’s plan to purchase up to five US Virginia-class nuclear submarines starting from 2032, followed by a new fleet based on a UK-design to be ready from the early 2040s.

In a statement late Tuesday, Malaysia’s Ministry of Foreign Affairs said while it appreciated the transparency from the Aukus partners, it maintained its previously critical position on the agreement.

The ministry said it was important for all countries to refrain “from any provocation that could potentially trigger an arms race or affect peace and security in the region.”

Meanwhile, Indonesia’s Ministry of Foreign Affairs said on Twitter it had been “closely following” the announcement on Australia’s plans for a fleet of nuclear sub -

marines.

“Maintaining peace and stability in the region is the responsibility of all countries. It is critical for all countries to be a part of this effort,” the ministry said, reiterating that it expected Australia to comply with its non-proliferation treaty obligations.

US Assistant Secretary of State Daniel Kritenbrink traveled to Kuala Lumpur and Jakarta last week to reassure Malaysia and Indonesia over the Aukus accord.

Chinese Foreign Ministry spokesman Wang Wenbin said

T he Reserve Bank of Australia, meanwhile, is already done hiking, according to pricing, after traders erased bets for two additional increases. Even in Europe, which kicked off its tightening cycle much later than peers, traders have wiped off around 80 basis points from terminalrate wagers, and another half-point hike on Thursday—all but certain last week—is no longer guaranteed.

Many strategists have followed suit, saying that the collapse of Silicon Valley Bank has sent such a shockwave through financial markets that it will force the Fed to go easier on its approach, taking pressure off other policymakers to follow suit. Goldman Sachs Group Inc. now expects the Fed to keep rates on hold at its March 21-22 meeting, while Nomura Securities has gone a step further and forecasts a cut and a halt to bond sales.

“ We believe the Fed is near its peak,” said Seyran Naib, a strategist at Skandinaviska Enskilda Banken AB. “When credit conditions and spreads are now tightened, the market does the job for the Fed, reducing the need for further rate hikes.”

To Amy Xie Patrick, head of income strategies at Pendal Group Ltd. in Sydney, the fact that two-year yields fell below cash rates is a sign that the hiking cycle will end.

T he first US bank failure since 2008 has

Investors risk another painful unwind similar to February’s rout by restoring bets on a rapid pivot from central banks, according to PGIM Fixed Income. The SVB crisis may end up being much like last year’s UK pension rout, which prompted intervention from the Bank of England, but didn’t stop UK policymakers from hiking rates, said Jonathan Butler, co-head of global high yield at the company, which manages $770 billion in assets.

“Markets believe that central banks will pivot before a recession, whereas my view is the central banks will tighten until they’ve got control of inflation,” he said. “Central banks are going to be more hawkish than the market believes.”

Australian three-year yields closed at 3.05 percent, some 55 basis points below the Reserve Bank of Australia’s cash-rate target. That’s the widest discount since 2015, when the RBA was busy cutting interest rates.

T he European Central Bank now stands as the leading hawk among global policymakers, according to swaps traders, who see it raising rates by more than 110 basis points by October.

But ther e too, the path isn’t certain. The ECB’s plans for more big rate hikes are set to meet stronger opposition this week after the collapse of SVB, according to officials with knowledge of the matter.

Bloomberg News

Garbage tarnishes Paris luster as pension strike continues

By ELAINE GANLEY The Associated Press

PARIS—The City of Light is losing its luster with tons of garbage piling up on Paris sidewalks as sanitation workers were on strike for a ninth day Tuesday. The creeping squalor is the most visible sign of widespread anger over a bill to raise the French retirement age by two years.

The stench of rotting food has begun escaping from some rubbish bags and overflowing bins. Neither the Left Bank palace housing the Senate nor, across town, street steps from the Elysee Palace, where waste from the presidential residence is apparently being stocked, was spared by the strike.

More than 7,000 tons of garbage had piled up by Tuesday. Some of that was seen being tossed into white trucks from a private company along the protest route ahead of a planned march Wednesday, the third in nine days. Police said the clean-up was for security reasons.

Other French cities are also having garbage problems, but the mess in Paris, the showcase of France, has quickly become emblematic of strikers’ discontent.

“It’s a bit too much because it was even hard to navigate” some streets, said 24-yearold British visitor Nadiia Turkay after touring the French capital. She added that it was “upsetting, to be honest,” because on “beautiful streets...you see all the rubbish and everything. The smell.”

ports, but Macron remains undaunted as his government presses ahead with trying to get the unpopular pension reform bill passed in parliament. The bill would raise the retirement age from 62 to 64 for most people and from 57 to 59 for most people in the sanitation sector. Sanitation workers say two more years is too long for the essential but neglected services they render.

“What makes France turn are the invisible jobs.... We are unfortunately among the invisible people,” said Jamel Ouchen, who sweeps streets in a chic Paris neighborhood. He suggested politicians go on a “discovery day” to learn first-hand what it takes to keep the city clean.

“They won’t last a single day,” Ouchen said. Health is a prime concern within the sanitation sector, officially acknowledged with the current early retirement at 57, though many people work longer to increase their pensions. With the exception of sewage workers, there appear to be no long-term studies to confirm widespread claims of shortened life expectancy among sanitation workers.

Still, health reasons were behind Ali Chaligui’s decision to switch his job as a garbage collector for an office position in logistics. Chaligui, 41, says he still suffers after-effects 10 years later, like tendinitis, shoulder and ankle problems.

the submarine deal would “exacerbate” a regional arms race.

Speaking at his regular press conference in Beijing on Tuesday, Wang said the Aukus partners had “totally disregarded the concerns of the international community and gone further down the wrong and dangerous path.”

Foreign Minister Wong said Wednesday that Australia was providing a briefing on the Aukus announcement to the diplomatic corps and that she understands a Chinese representative will attend. Bloomberg News

Turkay nevertheless sympathized with striking workers and accepted her discomfort as being “for a good cause.”

Even the strikers themselves, who include garbage collectors, street cleaners and underground sewer workers, are concerned about what Paris is becoming in their absence.

“It makes me sick,” said Gursel Durnaz, who has been on a picket line for nine days. “There are bins everywhere, stuff all over. People can’t get past. We’re completely aware.”

But, he added, President Emmanuel Macron has only to withdraw his plan to increase the French retirement age “and Paris will be clean in three days.”

Strikes have intermittently hobbled other sectors including transport, energy and

“Monsieur Macron wants us to die on the job,” said Frederic Aubisse, a sewer worker and member of the executive committee of the sanitation section of the leftist CGT union, at the forefront of the mobilization against the pension plan.

The stakes will be high on Wednesday for both the government and striking workers. Unions are organizing their eighth nationwide protest march since January. The action is timed to coincide with a closed-door meeting of seven senators and seven lower-house lawmakers who will try to reach a consensus on the text of the bill. Success would send the legislation back to both houses for voting on Thursday. But nothing is certain, and the ticking clock appears to have fed the determination of strikers.

AlexTurnbull in Paris contributed

KYIV, Ukraine—A Russian fighter jet struck the propeller of a US surveillance drone over the Black Sea on Tuesday in a “brazen violation of international law,” causing American forces to bring down the unmanned aerial vehicle, the US said.

said Valerii Zaluzhnyi, the commander in chief of Ukraine’s armed forces.

L olita

Baldor, Tara Copp, Zeke Miller, Aamer Madhani and Matthew Lee in Washington, and Lorne Cook in Brussels, contributed

A US MQ-9 drone is on display during an air show at Kandahar Airfield, Afghanistan on January 23, 2018. A Russian fighter jet Tuesday, Marc 14, 2023, struck the propeller of a US MQ-9 drone surveillance drone over the Black Sea, causing American forces to bring down the unmanned aerial vehicle in international waters, the US military said, an incident that highlighted soaring US-Russian tensions over Moscow’s war in Ukraine. AP/MASSOUD HOSSAINI

Agriculture/Commodities

DA urges S. Africa to import local fruits, tuna

By Raadee S. Sausa

THE Department of Agriculture

(DA) is urging South Africa to import tuna, sardines, coconut oil, mangoes, bananas and other tropical fruits from the Philippines.

S outh African officials paid a courtesy call on DA officials last March 13. Among those discussed was the DA’s final draft of the proposed memorandum of understanding (MOU) on Technical Cooperation in the Field of Agriculture between

the Philippines and South Africa for the latter’s approval.

T he MOU seeks to promote bilateral cooperation between the two countries on capacity-building, technology advancement, agricultural trade, agribusiness, and knowledge-sharing by conducting joint activities, projects, programs, and exchanges.

South African Ambassador to the Philippines Bartinah Ntombizodwa Radebe-Netshitenzhe took pride in South Africa’s vibrant pro -

duction of citrus and meat,” the DA said in a statement.

Since the establishment of diplomatic ties between the Philippines and South Africa in November 1993, the two countries have had a vibrant history of cultural, political, economic relations.

I n 2021 alone, South Africa ranked 42 among 223 top trading partners and was the largest African trading partner of the Philippines, recording a total trade amount of $125.1 million.

Data from the Philippine Statistics Authority (PSA) has showed that the Philippines’ $85.5 million worth of export products to South Africa include desiccated coconut, tobacco, coconut oil and its fraction, mucilage and thickeners, carrageenan, preparations suitable for infants and young children, tobacco that were not stemmed-flue-cured, sauces and preparations, coffee extracts, essences and concentrates, and coconut concentrate.

T he South African government

LandBank to extend low-interest loans to fishers in Bohol

THE Land Bank of the Philippines (LandBank) has approved a total of P162.8 million in loans for 17 fishers’ associations and seven fish trader groups in Bohol under a program that seeks to reduce fish prices in the province.

L andBank said groups availing of loans will enjoy an annual interest rate of as low as 2 percent, with a repayment period of five years, payable every six months from the date of the initial drawdown.

T he state-run financial institution and the local government of Bohol have rolled-out an “innovative” fish buy-back scheme that will provide fishers a sure market for their daily catch while reducing the price of fish in the province.

“ We are pleased to take part in this timely and impactful initiative to advance the local fishing industry, which will benefit both local fishers and consumers,” LandBank President and Chief Executive Cecilia Borromeo said.

Under the program, the Bohol government will directly buy the fish catch of local fishers’ associations and handle the sales to partner trader groups.

L andBank will ensure the availability of affordable financing to support the operations of the participating parties and facilitate the disbursement of cashless payments under the partnership.

Under the partnership, LandBank will provide loans to 25 participating fishers’ associations through the Department of Agriculture’s Agricultural Competitiveness Enhancement

Fund, to support the acquisition of fishing equipment such as fishing boats, marine engines, and fish nets, as well as production inputs for fish cage culture.

T he bank will also extend loans to 10 partner fish vendor and trader groups for the purchase of local fish catch from the provincial government, including its commercial distribution, at a price lower than the

prevailing market price.

For his part, Gov. Erico Aristotle Aumentado of Bohol said, “I’d like to thank LandBank for allowing us to have this project. We cannot do it without your support.”

Bohol is expected to officially implement the program in the four priority municipalities of Talibon, Bien Unido, Getafe and Buenavista this March at the earliest, with plans

mostly exported onion seeds, dog and cat food, fruit juice mixtures, undenatured ethyl alcohol, grape wine, peaches, mixture of juices, waters including mineral and aerated with added sugar, mandarins, and apple juice amounting to $39.6 million.

A lso discussed was the Bureau of Plant Industry’s visit to South Africa from February 27 to March 3 to perform pest risk analysis in select table grapes plantations.

T he delegation team from the attached agency of the DA is currently

finalizing its assessment.

I n a circular it issued in 2016, the DA said the pest risk analysis is the process of evaluating biological or other scientific and economic evidence to determine whether an organism is a pest, whether it should be regulated, and the strength of any phytosanitary measures to be taken against it.

DA Department Circular 4 detailed the guidelines on the importation of plants, planting materials and plant products to the Philippines.

ISAAA: Singaporean agri firm develops climate-resilient strawberry variety

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

DAVAO CITY— A Singapore-based agri-genomics firm that has developed a proprietary genomics technology platform has launched the world’s first climate-resilient strawberry, according to a scientific journal.

S ingrow said its purpose was to make strawberries more affordable while reducing the environmental impact of its production. The novel strawberry variety was featured in the February issue of the online weekly publication of the International Service for the Acquisition of Agri-biotech Applications (ISAAA).

It was also Singrow’s plant experts who applied genomics-based science to develop the new strawberry variety.

I SAAA said genomics-based science “is gaining popularity in the food industry, especially in developing nutrient-dense plant varieties resilient to drought and diseases.”

of eventual roll-out in other parts of the province.

Meanwhile, the program will adopt a cashless arrangement for faster and more secure disbursement of funds.

A ll payments between the provincial government, fishers’ associations and trader groups will be facilitated through LandBank’s iAccess and weAccess facilities. Raadee S. Sausa

Govt assists farmers in producing quality cassava products

By Jonathan L. Mayuga @jonlmayuga

CASSAVA chips, anyone? Or would you prefer to have cassava kropek for snacks?

T he Department of Agrarian Reform (DAR) is stepping up efforts to encourage farmers to produce better quality cassava and come up with byproducts like cassava chips.

T he move is aimed at boosting farmers’ income while contributing to the government’s food security and food self-sufficiency efforts.

In Bula, Camarines Sur, for instance, in partnership with the Department of Science and Technology Region V (DOST V) and the local government unit (LGU) of Bula, the

ON Friday at 6:30 in the morning, Connor McMahon, owner of Fulldraw Vineyard in Paso Robles, California, went into panic mode over the news of Silicon Valley Bank’s impending collapse.

W hen the 35-year-old winemaker finally connected with a bank loan officer at 7 a.m., it was too late to move the winery’s money into his SVB checking account so he could open a new account elsewhere. The FDIC had already taken over the bank and shut its systems down. What -

DAR is working to help members of the Sto. Nino Multi-Purpose Cooperative (SNMPC) increase their cassava “kropek” production and ensure a stable market for this innovative agricultural by-product.

T he upgrading of SNMPC’s production capacity, according to OIC-Provincial Agrarian Reform Program Officer II Ricardo C. Garcia, is part of the DAR V and DOST V convergence programs, which seek to increase and improve cassava kropek production to meet growing consumer demand and make the cooperative more competitive.

T he project will be implemented over a three-year period, with one year dedicated to performance and two years for monitoring.

ever was in progress—loans and deals—stopped dead.

Silicon Valley Bank, which was America’s 16th largest bank, was known as a key banker to the tech industry. Less well-known is how intertwined it has been with the wine industry. It has some 400 vineyard and winery clients in northern California, the Central Coast and into Oregon—and many in the winery businesses, often familyrun operations, describe such a long-standing and close relationship with SVB that its executives effectively functioned more like

Garcia said the SNMPC, as the project’s beneficiary, will receive P335,110 in total. DOST V will provide P289,610, while LGU Bula will give P30,000 and another P9,000 from DAR Camarines Sur 1. The SNMPC has agreed to provide P6,500 for the project.

D uring the ceremonial check release on March 6, Municipal Councilor Nelly Largo commended the government agencies for choosing SNMPC as the project’s beneficiary. She also reminded everyone of the obligations tied to the release of the funds.

Moreover, Patrocinio G. Felizmenio, director of DOST Camarines Sur, expects the project to be “a stepping stone to a larger effort” and as sustainable as other DOST-

their business partners.

McMahon’s story is like those of many other small and medium boutique wineries in a region that had already been hit hard in recent years by climate change-related challenges, from fires to frost. Weather, bugs and bad harvests are expected hazards of the industry. Bank failures are not.

For three hours on Friday morning, McMahon and his wife, Rebecca, made 70 phone calls to try to ensure their small, 2,000-casea-year winery could keep functioning. “Mother Nature doesn’t stop

supported projects.

Augusto S. Medina Jr., chief of the Agrarian Reform Beneficiaries Development and Sustainability Program, said DAR continues to collaborate with other line agencies to give viable businesses to agrarian reform beneficiaries.

S NMPC Chairperson Augusto

G. Consorte assured that the funding will be utilized entirely to improve cassava kropek and other products, such as mushroom food seasoning.

“ We will do this not only for our cooperative but for the entire community of Bula.”

T he SNMPC was formed on August 6, 1993, and was registered with the Cooperative Development Authority (CDA) on March 5, 2010.

for bank failures,” McMahon said in a phone interview.

For him, as for other winemakers, March is the beginning of the growing season, when he needs more workers in the vineyard, ships spring releases to his wine club, and gets ready to purchase bottles, corks and labels for the past vintage. All that requires cash, from bank accounts and operational lines of credit that suddenly were frozen.

A focus on wine

BACK in 1994, executive vice president Rob McMillan founded

“Advanced genomics is expected to aid strawberries’ large-scale production in tropical countries by breaking seasonal and temperature barriers. This provides opportunities for growers and potentially reduce costs for consumers,” ISAAA added.

It said strawberries are traditionally grown in temperate climates and then exported to tropical areas like Southeast Asia.

“Exporting them adds costs, and makes the fruit more expensive to consumers and also leaves a huge carbon footprint behind.”

T hrough genomics, Singrow developed a sustainable commercial strawberry variety that can withstand temperature changes and exhibit high-yield qualities, ISAAA said.

A ccording to Singrow developers, “genome-based technology is more productive than conventional breeding. The same technology can be used for other staple crops like rice, corn, and selected vegetables facing challenges brought on by climate change.” ISAAA said Singrow will expand its list of crop products.

O n its web site, Singrow said “using techniques such as marker-assisted cross breeding and advanced technology including

Silicon Valley Bank’s unique Wine Division and it became a significant lender to the industry. “We understand the wine industry and its particular kinds of risks,” he said in an interview. “We have deep expertise. Some employees were former winemakers with MBAs; some even volunteered regularly to work harvest at wineries. These are family businesses.”

McMillan told early clients such as Rob and Maria Sinskey of Robert Sinskey Vineyards that the wine businesses had the appeal of hard assets—land, buildings, equipment.

CRISPR-Cas9, we are able to create our own proprietary crop varieties that are more energy efficient, faster growing and tastefully delicious.”

“Our flagship products: Rouge strawberry, Blanc strawberries and Japanese Spinach [Komatsuna].”

Singrow said it also discovered a faster cultivation method. “Using customized cultivation methods, we are able to control every aspect of the crop development, and no pesticide. Our strawberry plants normally take 3.5 months from planting to harvesting compared to over six months.”

Some of our methods include precision hydroponics, greenhouse hybrid lighting and tissue cultures. Our indoor farm can produce 20 times more compared with what a conventional strawberry farm of the same size can achieve. The controlled environment of the indoor farm has helped reduce the time needed to cultivate the strawberries by around 30 percent.”

T he company plans to expand overseas such as in China, Indonesia, Vietnam, and the Middle East. Meawhile, ISAAA reported that the two-year collaborative work by Japanese and Chinese researchers has succeeded in sequencing the whole genome of the cultivated strawberry and four closely-related wild strawberries.

“ The research found genes that can be used for future breeding, including genes unique to the cultivated strawberry, and genes related to disease resistance.”

S achiko Isobe, head of the Kazusa DNA Research Institute’s Laboratory of Applied Plant Genomics in Kisarazu, Japan, led the research team. Researchers from Japan’s Chiba Prefecture Agriculture and Forestry Research Center, Kyushu University, Kagawa University and the Nanshan Botanical Garden in Chongqing, China, collaborated in the work.

We expect the research’s findings will help in discovering genes related to serious diseases affecting strawberries worldwide such as powdery mildew, anthracnose, and Fusarium wilt,” Isobe said.

T he researchers also expect their findings to make it easier to discover and study the functions of genes related to traits such as color, shape, taste and health benefits of strawberry.

W inemaker Adam Lee, founder of Siduri and Clarice Wine Co. in Sonoma posted a letter on the latter’s website on Sunday morning, about the ways SVB’s wine department took an active interest in small mom-and-pop wineries and their success, including his. “They came and helped us sort grapes,” he says. In a subsequent interview with Bloomberg, Lee says that Silicon Valley Bank was a significant lender to them. The closeness between the bank and the industry meant that “those wineries are quite exposed.” Bloomberg News

After SVB fail, California winemakers dodged a crisis–but worry for future

What’s the penalty for spilling oil in PHL?

THe massive oil spill caused by the sinking of oil tanker MT Princess Empress, which was carrying 800,000 liters of industrial fuel, off the coast of Naujan, Oriental Mindoro on February 28 showed how unprepared we are to face this kind of disaster. It also exposed our inability to learn from the environmental damage caused by a similar accident in the past.

On August 11, 2006, an oil spill occurred in Panay Gulf when the oil tanker MT Solar 1 sank off the coasts of Guimaras and Negros, causing what is considered to be the worst oil spill in the country’s history. The oil spill adversely affected marine sanctuaries and mangrove reserves in four municipalities in Guimaras. It also threatened 27 communities in Iloilo province and 17 others in Negros Occidental.

Unfortunately, the public outrage engendered by the spill was not enough to push the government to design a program that could help contain future oil spills. Despite the heavy damage caused by the oil slicks, we didn’t create or identify a government agency manned by people who have the expertise to deal with these kinds of challenges. The oil spill nightmare in 2006 should have inspired the formation of a body tasked to prevent, prepare for, and respond to oil spills that occur in the country.

The massive oil spill in Mindoro continues to affect not only the livelihood of fisherfolk, but also the country’s marine biodiversity and tourism as it heads towards the famous beaches of Coron in Palawan and in Boracay.

Marine scientists at the University of the Philippines said about 36,000 hectares of coral reef, mangroves and sea-grass were potentially in danger of being affected by the oil slick.

At the Senate hearing on the massive leakages of oil on Tuesday, Sen. Cynthia Villar expressed dismay over the extent of the damage caused by the oil spill, noting that it “is emerging to have more extensive effects,” compared to the 2006 Guimaras incident.

Citing the National Disaster Risk Reduction and Management Council Situation Report dated March 12, 2023, Villar said the oil spill in the province affected 21,691 families in 117 barangays of Region 4-B; 7,616 families in four barangays of Region 6; a total of 13 marine protected areas and 61 tourist attractions; and about 8 kilometers of coastline in Caluya, Antique.

The Senate hearing also exposed grave regulatory lapses by the owner of the sunken tanker, dashing hopes that thousands of people impacted by the massive leak could promptly get financial help for the damage and lost livelihood from the $1-billion indemnity insurance taken out by the owners.

Maritime Industry Authority representatives told the Senate panel that the ship didn’t have the permit to sail. RDC Reield Marine Services (RDC) –the owner of M/T Princess Empress – has yet to secure an amendment of its certificate of public convenience (CPC) for the ill-fated vessel; thus it should not have been allowed to sail.

Sen. Francis “Chiz” Escudero grilled Philippine Coast Guard and officials of the oil tanker over the incident, pointing out the failure of the PCG to check the ship’s certificate of public convenience. In questioning Fritzee Tee, vice president of RDC Reield Marine Services Inc. that owns MT Princess Empress, Escudero found out that the vessel was newly acquired and has sailed nine times already even though it technically had no permit to operate yet. Tee said they applied for an amended CPC in November 2022. However, the senators learned that the ship was not issued an amended CPC because the owner did not apply for one.

Senator Francis Tolentino, who earlier spurred the Senate environment panel to demand an in-depth assessment of the huge damage brought by the Mindoro oil spill incident following his privilege speech last week, urged authorities and the owners of MT Princess Empress to hasten the distribution of compensation for those affected by oil spill. The Senate should also ask compensation from the company that owns the oil cargo for its failure to exercise due diligence when it chartered the sunken MT Princess Empress, which is now spilling 800,000 liters of highly polluting industrial oil into Philippine waters.

The end of US hegemony?

John Mangun

OUTSIDE THE BOX

THe United States of America was founded by europeans united in one singular purpose: to get away from europe. They were tired of wars that moved boundaries of kingdoms. They were fed up with absolute hereditary monarchs that ruled by whim. They could no longer tolerate government and social institutions being controlled by and for the benefit of the elite. No longer would they tolerate religious persecution and the freedoms to speak and think only if approved by the ruling class.

Ethnically these people were Dutch, Flemish, French, Dane, Norwegian, English, Scots, Irish, Germans, Portuguese, and Italians. The people conversed and wrote in English, German, Dutch, French, Swedish, Spanish, and Hebrew.

They called themselves Lutherans, Presbyterians, Baptists, Anglicans, Roman Catholics, Baptists, Quakers, Jews, and Dutch Reformed. In his farewell address, the first president George Washington urged the American people to take advantage of their isolated position and avoid attachments and entanglements in foreign affairs, especially those of Europe.

The national motto might as well have been “Leave us alone.”

The Monroe Doctrine was an attempt not so much to extend US

influence in the hemisphere, but to keep the Europeans out. In 1902, a naval blockade against Venezuela by Great Britain, Germany, and Italy began after its president refused to pay foreign damages suffered by European citizens in recent Venezuelan civil wars. President Theodore Roosevelt refused to intercede as he saw the Doctrine as applying only to European seizure of territory, not intervention per se.

The first “Progressive” US president changed US foreign policy. Woodrow Wilson lowered tariffs to encourage global trade and wanted to broker peace during World War One. But he hesitated on the peace negotiations and decided that the US needed “to make the world safe for democracy” because “Germany threatened American global ideals of democracy and peace through

militarism.”

Nothing has been the same since. Every subsequent US president has believed that the US had an obligation, and its president himself had a personal responsibility, to be the leader of the “free” world.

Joseph Stalin broke his promise to Franklin Roosevelt that he would hold free elections in Eastern Europe, a pledge that presidential successor Harry Truman never forgave. Truman was a nationalist, who had “a colony image of China” and could have but did not work with victorious Communist China, which then defied Truman in the Korean War.

An attack on Richard Nixon’s motorcade occurred in Caracas in 1958 while Nixon was Vice President. The visit took place only months after the overthrow of Venezuelan dictator Marcos Pérez Jiménez, who was later granted asylum by the US.

In 1977, President Jimmy Carter hosted the Shah of Iran, even as the most influential leader of the opposition to the Shah Ayatollah Khomeini was in exile. On November 4, 1979, a demonstration organized by Iranian student unions loyal to Khomeini took over Carter’s US embassy in Tehran.

Barack Obama “campaigned” for US president in Europe and later described Vladimir Putin as “One of the sorts of men who had once run the Chicago machine, and who viewed patronage, bribery, shakedowns, fraud, and occasional violence as legitimate tools of the trade.” Obama proclaimed himself “America’s first

Pacific president” as China was taking the regional waters.

These are but a few examples of the US moving as far away from Washington’s 1796 foreign policy admonition as possible.

China just “brokered” a deal between Saudi Arabia and Iran to resume diplomatic relations, with some saying this will bring peace and stability to the Middle East. Nothing could be further from the truth. The Sunni/Shiite proxy war in Yemen will continue as that conflict is for domestic political consumption in Sunni Saudi and Shiite Iran. This was a Russian (ally of Iran)/ Chinese initiative with Xi Jinping as the “pretty face.”

It is about BRICS (Brazil, Russia, India, China, and South Africa) and soon will be “BRICSSI” with the addition of Saudi and Iran.

A high-level gathering of Gulf Arab states and Iranian officials is to take place later this year in Beijing with all parties agreeing not to use English in the negotiations, with speeches and documents conducted in Arabic, Farsi, or Mandarin.

The century-long US political/ economic supremacy is being challenged as never before. And in truth, the current US administration does not have any clue how to respond. That fact makes the situation more dangerous.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Honduras will seek ties with China, spurning Taiwan

TeGUCIGALPA, Honduras—Honduras President Xiomara Castro announced Tuesday that her government will seek to establish diplomatic relations with China, which would imply severing relations with Taiwan. The switch would leave Taiwan recognized by only 13 countries as China spends billions to win recognition for its “One China” policy.

Castro said on her Twitter account that she instructed Honduran Foreign Affairs Minister Eduardo Reina to start negotiations with China and that her intention is “expand frontiers freely in concert with the nations of the world.”

Castro said during her presidential campaign in 2021 that she would look for ties with China if elected, but once in power, her government backtracked on those comments.

In January 2022, the foreign affairs minister told The Associated Press that Honduras would continue strengthening ties with Taiwan and that establishing a diplomatic relationship with China was not a priority for Castro.

Reina, the Foreign Affairs Minister, had said the government weighed up the benefits that Honduras had received from a good relationship with Taiwan and decided that there was

no reason to change at that moment.

In Taipei, the Ministry of Foreign Affairs said it had “expressed serious concerns to the Honduran government. Our country has made it clear to Honduras many times that Taiwan is a sincere and reliable cooperative partner to our allies. Honduras is requested to consider carefully and not fall into China’s trap or make wrong decisions that damage the long-term friendship between Taiwan and Honduras.”

Beijing has not commented on the issue.

China claims self-ruled, democratic Taiwan is part of its territory, to be brought under its control by force if necessary, and refuses most contacts with countries that maintain formal ties with Taiwan, and threatens retaliation against countries merely for increasing contacts.

China expelled Lithuania’s am-

bassador, downgraded diplomatic ties and blocked trade with the Baltic country of 2.7 million people after it boosted relations with Taipei in Oct. 2021. Lithuania has since closed its embassy in Beijing and opened a trade office in Taiwan.

It’s not clear what made Honduras’ government change its mind. However, China, which is building a massive dam in Honduras, generally uses trade and investment as incentives for switching ties, as it has done successfully with Costa Rica, Panama, El Salvador, Nicaragua and, most recently, South Pacific nations including the Solomon Islands.

Taiwan supplies its dwindling number of formal diplomatic partners with agricultural experts, vocational training programs and other forms of economic aid.

However, budgetary restraints imposed by the democratically elected legislature prevent it from splashing out on sports stadiums, conference halls and government buildings as China does.

China’s multi-billion dollar “Belt and Road” initiative has also offered developing nations ports, railways,

power plants and other infrastructure, funded by loans provided at market rates.

The loss of Honduras would leave Taiwan with formal diplomatic ties to just 13 sovereign states, including Vatican City. In Latin America, it also has relations with Belize and Paraguay, with most of its remaining allies being small, poor island nations in the Caribbean and South Pacific.

It’s sole remaining African ally is Eswanti, formerly known as Swaziland, whose Prime Minister Cleopas Sipho Dlamini visited Taiwan this month and expressed support for the island’s re-admission to the United Nations and its agencies.

Despite China’s campaign of isolation, Taiwan retains robust informal ties with more than 100 other countries.

Earlier this month, Micronesian President David Panuelo accused China of “political warfare” in a letter to other national leaders and discussed switching diplomatic allegiance from China to Taiwan in exchange for $50 million to recharge the tiny Pacific island nation’s trust fund. aP

By Mari Yamaguchi & Kim Tong-Hyung | The Associated Press

TOKYO—South Korean and Japanese leaders will meet in Tokyo this week, hoping to resume regular visits after a gap of over a decade and overcome resentments that date back more than 100 years. The two major Asian economies and US allies have long hoped to cooperate on shared security concerns about China and North Korea, but previous rounds of diplomacy have foundered on unresolved issues from Japan’s 35-year occupation of the Korean Peninsula.

Seoul has offered Tokyo concessions on South Korean demands for compensation over wartime forced labor, but it remains to be seen whether the South Korean public will accept reconciliation.

The AP explains what’s kept the two neighbors apart, what they’re expected to talk about, and why it matters for the region.

What are the issues?

JA PA n effectively colonized the Korean Peninsula between 1910 and 1945, in a regime that imposed Japanese names and language on Koreans and conscripted many into forced labor or forced prostitution in military brothels before and during World War II. Japan paid $800 million in reparations to South Korea’s military-run government in 1965, but this money was never distributed to victims.

A semi-government fund offered compensation to former “comfort women” when the government apologized in 1995, but many South Koreans believe that the Japanese government must take more direct responsibility for the occupation.

The two sides also have a longstanding territorial dispute over a group of islands controlled by South Korea and claimed by Japan.

Seoul and Tokyo have attempted to establish better ties before. In 2004, leaders began regular visits, but these ended in 2012 after South Korean President Lee Myung-bak visited the disputed islands. Tensions escalated in the past 10 years as conservative Japanese governments moved to rearm the country while stepping up attempts to whitewash Japan’s wartime atrocities, and in 2018 South Korea’s Supreme Court ordered Japan’s nippon Steel and Mitsubishi Heavy Industries to compensate forced labor victims. In 2019, Japan, in apparent retaliation, placed export controls on chemicals used to make semiconductors and displays used in smartphones and other high-tech devices.

What’s expected at the summit?

Sou T H Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida are to hold a summit and have dinner together during Yoon’s March 16-17 state visit. Though leaders have met in multilateral settings, including on the sidelines of a un ited nations meeting in ne w York in September, this is the first formal bilateral summit since a meeting in Seoul in 2015.

Kishida is expected to reaffirm Japan’s past expressions of remorse over its wartime actions.

Both sides have signaled hopes that this summit will lead to a resumption of regular bilateral visits, although Kishida hasn’t yet announced plans for a visit to South Korea. Tokyo is also considering an invitation to Yoon to return to Japan as an observer at the Group of Seven summit Kishida will host in Hiroshima in May.

A major business mission accompanying Yoon is expected to meet their Japanese counterparts. Masakazu Tokura, chair of the Japan Business Federation, said the two sides are considering establishing a separate, private fund to promote bilateral economy, security, culture and other key areas of cooperation.

What’s at stake for the region?

I MProved ties between South Ko-

rea and Japan could pave the way for the two uS allies to cooperate more closely on shared security concerns related to China and north Korea.

Washington is eager to get its allies on the same page, and appears to have worked intensively to bring about the summit. uS Ambassador to Japan r a hm em anuel said his country and its two allies had about 40 trilateral meetings and he thinks cooperation in the process helped to build up trust. While Japan increasingly bolstered defense ties with the u K., Australia, India and the Philippines, challenges in Japan-South Korea relations were obvious and their closer relationship “in the larger context of our strategic alignment … is a very big deal.”

South Korean officials have denied direct pressure from the Biden administration to resolve the historical discord with Tokyo, but the plan is apparently part of South Korean efforts to strengthen alliances to counter north Korea, which has been expanding nuclearcapable missiles and issuing threats of preemptive nuclear strikes.

While pushing to expand uSSouth Korea joint military exercises, the Yoon government has sought Washington’s stronger reassurances to swiftly and decisively use its nuclear weapons to protect its ally from north Korea. Seoul and Tokyo last week also announced plans for talks to restore the country’s trade relations, which could relieve pressure from global high-tech supply chains. South Korean officials say stronger economic cooperation with Tokyo has become more crucial in the face of industrial supply chain disruptions and other global challenges.

“The need to strengthen South Korea-Japan cooperation has never been greater in the era of complex crises, brought by uncertainties in global geopolitics, north Korea’s continued nuclear and missile testing activity and the disruption in industrial supply chains,” South Korean v ice Foreign Minister Cho Hyundong said last week.

How are Japan and South Korea addressing history?

e x PerT S say that the two countries will have to find an accommodation on history if this round of diplomacy is to achieve lasting results.

Choi eu n-mi, an analyst at South Korea’s Asan Institute for Policy Studies, said the Kishida-Yoon summit wouldn’t change South Korean public opinion if it’s all about security and economic matters. “There must be some sort of expression of apologies and selfreflection by Japan, in particular by the Japanese government and the defendant companies,” she said.

Seoul made a significant concession prior to the summit, announcing plans to use its own funds to pay out compensation from the 2018 court order. South Korea will offer reparations to the plaintiffs through an existing state-run foundation that will raise the money from South Korean companies that benefited from the 1965 accord accompanied by $800 million in economic aid and loans from Tokyo to Seoul. It’s a major relief for Tokyo, which fears that further South Korean court orders could impose massive compensation demands on hundreds of other Japanese companies that used wartime forced labor.

By Alaric Nightingale & Rakesh Sharma | Bloomberg Opinion

EN route to New Delhi this month, US officials proclaimed themselves satisfied that India is buying Russian oil below G-7 price caps designed to undercut Moscow’s war in Ukraine without disrupting global energy flows.

Market experts—and even some of those involved in the energy trade—say it’s not so clear.

India’s consumption of russian crude was minimal and sporadic before President v l adimir Putin’s forces attacked u k raine, but it has soared since, becoming a key tool for Prime Minister narendra Modi’s bid to fight energy inflation.

Yet the structure of India’s oil trade means that the final price it pays includes shipping, insurance and other costs upon arrival at its ports, without a detailed breakdown. That makes it hard to know how much it’s actually paying russia, and whether it’s undercutting the goal of limiting Moscow’s revenue from crude sales.

“The reality is this market has become extremely opaque,” said vandana Hari, founder of vanda Insights in Singapore. “It is near-impossible to get middlemen costs.”

uncertainty about how much India pays is part of the murkiness around russian oil flows more generally, as the trade shifts from the Atlantic basin to Asia and from large traders to smaller entities. And it highlights the uphill struggle by u k raine’s allies to enforce or even encourage compliance with the curbs imposed over the past year.

India’s oil ministry, Ministry of Commerce and Ministry of ex ternal Affairs did not respond to requests for comments.

Since Modi’s government never signed up to the G-7 cap, it doesn’t have an obligation to comply with it—so long as it is not using Western insurance or shipping services. And

while people familiar with the matter say the government won’t break the sanctions—and has asked banks and traders to adhere to the rules— the challenge comes in monitoring or enforcing such vows.

For instance, to supply buyers in places such as India and China, which continue to rely on russian crude, a “gray fleet” of tankers has emerged.

That’s helped push down the costs of crude transport overall, according to vi ktor Katona, lead analyst at Kpler. But the rise of the gray fleet and other middlemen in the russian oil trade makes dissecting price data even harder, and official figures are of little help.  data from India’s Ministry of Commerce show that the nation’s average price for russian crude in January was $79.80 a barrel, significantly higher than the $60 cap. That final price, which includes shipping, insurance and other expenses, would imply extraordinary logistics costs if the cap wasn’t breached during that month.

The difference between the landed price—the cost when oil arrives at port—and the free-on-board price, which doesn’t include shipping, insurance and other ancillary fees, is the crux of the problem. Moreover, India often secures its oil after it’s in transit, having already left russia and adding to the complexity of determining the original price.

According to the two companies that have long published russian oil prices—Argus Media Ltd., whose data have for years determined the export duties that Moscow gets from overseas sales, and S&P Global

Insights, which is better known by traders as Platts—the price paid at the point of export is far below the price cap.

Japan, South Korea summit must overcome history to renew ties India’s opaque purchases of Russian oil emerge as sanctions test

Argus data for the end of February showed the export price of ura ls, russia’s flagship grade and the variety that India is really snapping up, at about $45 per barrel. Platts, which assessed it at similar levels, also publishes a delivered-to-India price for the ura ls grade. That price—which includes delivery costs—has been above $60 a barrel since Jan. 18, when Platts started it, and stood at $64.31 on March 10.

If correct, those analyses are good news for the Biden administration, which is eager to have large emerging nations support its efforts to stymie the russian war machine while ensuring uninterrupted flows.

A uS government official, who asked not to be identified discussing non-public information, said pointof-export (FoB) prices published by Argus Media and Platts are seen as the best indicators of russian revenues, and the data are consistent with what the Treasury heard anecdotally, even if he acknowledged the opacity of the situation.

But then there are recent purchases by Indian refiners of russian eSPo crude loading from the Far east and trading at a price above the flagship ura ls blend, according to Asian traders, suggesting higher values are not out of the question.

Another group of researchers who got access to invoice data for russia’s oil exports estimated that Indian firms paid an average of $64 per barrel for russian oil in the weeks after the price cap began.

refinery officials in India, who asked not to be identified discussing sensitive issues offered no explanation for how precise compliance with a $60 cap would be established. From the delivered price, one official pointed out, it is simply not possible to be

sure of the purchase price. Murkiness in the market helps both sides.

While the uS and its allies say they believe India is buying below the cap, they would be loathe to single out de lhi for criticism regardless. no government wants to alienate the world’s most populous nation, which, beyond the dynamics of the war in u k raine, is seen as a critical swing-state in rising uSChina tensions.

on Tuesday, a uS official said the bulk of russian seaborne oil — about 75% — is being traded without the use of western services. And the official, Assistant Treasury Secretary Ben Harris, said that while there is some “subversion” of the price cap likely taking place, he said russian Finance Ministry data show that revenue to Moscow is down.

For now, though, the uncertainty threatens to slow purchases, as Indian refinery executives and banks struggle with the additional information required because of sanctions and the price cap. That’s because even if India isn’t a party to the price cap, its banks and other companies want to avoid potentially breaking sanctions.

The looming question in the months ahead is whether the Western approach will last. Will Washington and its allies seek to tighten penalties on russia as the war enters its second year, or opt for a more laissez-faire approach in favor of ensuring continued flows?

“They are trying to tailor the carrots and the sticks,” sanctions expert Maria Shagina of the International Institute for Strategic Studies said, explaining uS assertions on compliance, and the avoidance of accusations. “It is impossible to have it watertight. It’s about the scale of the leakage.” With assistance from Sharon Cho, Ruchi Bhatia, Adrija Chatterjee, Daniel Flatley and Sudhi Ranjan Sen / Bloomberg.

‘Nazi’ references: BBC sportscaster’s tweet revives debate

By Hillel Italie | AP National Writer

NEW YORK—The references seem endless, and they can come from anywhere. In recent days, Pope Francis compared Nicaragua’s repression of Catholics to Hitler’s rule in Germany. In Britain, a BBC sportscaster likened the nation’s asylum policy to 1930s Germany, resulting in his brief suspension and a national uproar.

For Holocaust and anti- n a zi scholars and organizations, the two sentiments were understandable — but concerning. Invoking Hitler and na zi Germany, they warn, often serves to revive a familiar and unwelcome line of argument.

“We have to be aware of, and confront, contemporary instances of discrimination, hate speech and human rights abuses across the world,” says r afal Pankowski, a Polish sociologist who heads the anti-na zi never AGAIn Association. But he added: “of course, the historical analogies must not be overused and devalued. The label `na zi’ should not be trivialized and reduced to a term of abuse against anybody we don’t like.”

Last week, Pope Francis was quoted as criticizing the government in nicaragua, where religious leaders have been arrested or fled, for acting as “if it were a communist dictatorship in 1917 or a Hitlerian one in 1935.” nicaragua responded by proposing to suspend vatican ties.

Around the same time, the BBC’s Gary Lineker tweeted that a plan announced by Britain’s Conservative government was “immeasurably cruel” and included language “not dissimilar to that used by Germany in the 30s.”

The bill, intended to stop tens of thousands of migrants a year from reaching the country in small boats across the english Channel, would bar asylum claims by anyone who reaches the united Kingdom by unauthorized means and compel the government to detain and deport them “to their home country or a safe third country.” At first, the broadcaster sus-

pended Lineker, its highest paid T v commentator. But it reversed itself on Monday and praised Lineker as a “valued part of the BBC.”

Alternative wording

PeT er Fr I TzSCHe , author of “An Iron Wind: europe under Hitler,” among other books, calls Lineker’s comments poorly expressed and misguided, given that “na zi Germany had no immigration policy”.” r ather than comparisons to the nazis, Fritzsche believes Lineker would have been better off describing the policy with the words “racist” or “inhumane.”

“Great Britain, in its rhetoric about immigrants and its policies regarding asylum-seekers ... generates quite rightly enormous outrage, because we believe Great Britain is in the family of democratic humane nations,” says Fritzsche, a history professor at the university of Illinois. “The sportscaster’s sentence is inaccurate. The spirit is laudable.”

Sometimes, scholars and activists say, events do call for na zi comparisons, whether it’s the white supremacist march in Charlottesville, virginia in 2017 or the annual Independence day march in Warsaw, Poland organized by extreme-right groups. But nazi references have also been used to criticize fiscal policy (anti-tax activist Grover nordquist once invoked the Holocaust when criticizing estate taxes) or insult rival heads of state (Saudi Arabia and Iran recently re-established diplomatic ties, six years after Prince Mohammed bin Salman referred to Iran’s Ayatollah Ali Khamenei as the “new Hitler”).

on the Internet, na zis have been mentioned so often, and for so long, that in 1990 author-attorney Mike Godwin formulated “Godwin’s Law” for them: “As an online discussion continues, the probability of a reference or comparison to Hitler or na zis approaches 1.” They come up so often that the un ited States Holocaust Memorial Museum in Washington, d C. has crafted a standard response, which it cited when contacted this week by The Associated Press.

“na zism represented a singular evil that resulted in the murder of 6 million Jews and the persecution and deaths of millions of others for racial and political reasons,” the statement reads.

“Comparing contemporary situations to na zism is not only offensive to its victims, but it is also inaccurate and misrepresents both Holocaust history and the present,” the statement says. “The Holocaust should be remembered, studied, and understood so that we can learn its lessons; it should not be exploited for opportunistic purposes.”

A range of references

nA zI references can be outlandish (actress Megan Fox once compared “Transformers” director Michael Bay to Hitler); self-evident (Kanye West, who years ago complained of being looked at like “he was Hitler,” declared in 2022 that there were “good things about Hitler”); and strategic (russian President v l adimir Putin listed “denazification” of u k raine as one of the main goals of his “special military operation,” falsely alleging that there are na zis in u k raine’s leadership).

The Putin accusation isn’t new. It has been part of the Kremlin’s propaganda effort for years, used to justify a Moscow-backed insurgency in u k raine’s east and bash Kyiv’s proWestern government, which took over after a popular uprising ousted a pro-russian president in 2014.

Analysts say the narrative appears to play well in russia, where

the Soviet army’s defense against na zi Germany forces in World War II is still a fundamental part of the national identity. of ficials and state media routinely use the term “ na zi” to describe the u k rainian government and its army.

Moscow’s rhetoric has prompted some international backlash. Asked in an interview with an Italian news channel about r u ssian claims that it invaded u k raine to “denazify” the country, r u ssian Foreign Minister Sergey Lavrov said that u k raine could still have na zi elements even if some figures, including the country’s president, were Jewish.

“So when they say, ‘How can nazification exist if we’re Jewish?’ In my opinion, Hitler also had Jewish origins, so it doesn’t mean absolutely anything. For some time we have heard from the Jewish people that the biggest antisemites were Jewish,” Lavrov said, speaking to the station in russian, dubbed over by an Italian translation.

Israeli Foreign Minister Yair Lapid called Lavrov’s statement “unforgivable and scandalous and a horrible historical error,” adding that “the government of russia needs to apologize.”

In Israel, the Holocaust is seen as unique, and comparisons to the na zis or na zi Germany in the modern context are typically dismissed as cheapening the victims’ memory. But comparisons do happen. Prime Minister Benjamin netanyahu has likened Iran to na zi Germany, and ultra- or thodox protesters call the police in Israel “na zis” when they arrest people. ef raim zu roff, director of the Simon Wiesenthal Center in Jerusalem, says Lineker’s comparison is flawed. The Conservatives’ proposal, he says, is more like the British policy toward Holocaust survivors who tried to enter British Mandate-era Palestine after 1945 on boats such as the exodus—and were turned back. AP journalists Vanessa Gera, Daria Litvinova and Laurie Kellman contributed to this report .

A16 Thursday, March 16, 2023

Ex-MARINA chief Mejia to head World Maritime University

FORMER administrator of the Maritime Industry Authority (MARINA) who is credited with pushing sweeping reforms in maritime education, training, and certification system and safety improvement programs has been named the new president of the Sweden-based World Maritime University.

T he appointment of Prof. Maximo Q. Mejia Jr., who served as MARINA chief from 2013 to 2016, was announced by the International Maritime Organization (IMO) recently.

F ollowing a competitive selection process, Mejia was selected by the Secretary-General of the International Maritime Organization, Chancellor of the university, to succeed Dr. Cleopatra Doumbia-Henry as the new President of WMU, based in Malmö, Sweden.

Mejia is expected to take over the president’s role on June 29, when Dr. Doumbia-Henry’s term expires, according to a posting on the IMO web site.

A s MARINA Administrator, Mejia was chief architect and implementer of a comprehensive reform of the country’s maritime education.

Before joining WMU, he saw duty on board various naval and coast guard vessels as well as in shorebased facilities in the Philippines.

A mong others, he served as

Commanding Officer of Port State Control Office Manila, Commander of Coast Guard Station Iligan, Deputy Executive Director of the Presidential Task Force on Maritime Development, and Assistant Chief of Staff for

Navigational Safety.

D r. Mejia took a sabbatical from the World Maritime University to serve as Administrator (Director General) of the Maritime Industry Authority (MARINA) from 2013

to 2016.

I n 2013, Lloyd’s List included Dr. Mejia in its list of the world’s 100 Most Influential Persons in the Shipping Industry.

T he World Maritime University was founded in 1983 by the

PHL to ICC: Take back green light for probe

By Joel R. San Juan @jrsanjuan1573

THE Philippine government has asked the International Criminal Court-Appeals Chamber to abandon the January 26  decision of the Pre-Trial Chambers (PTC)  authorizing the resumption of the investigation on the abuses and deaths related to the anti-illegal drug of the Duterte administration.

I n a n appeals brief submitted last March 13,  the Office of the Solicitor General (OSG) maintained that the ICC has lost  jurisdiction over the country following the  withdrawal of its membership in 2019 upon the directive of then President Duterte.

T he Philippine government through Solicitor General Menardo Guevarra also asked the ICC to suspend, pending the resolution of its appeal,  the implementation of the PTC’s decision that allowed Prosecutor Karim Khan to resume the investigation of the Philippines’s bloody anti-illegal drug campaign.

T he PTC, in granting Khan’s request, said the information and materials submitted by the Philippine government before the ICC “do not amount to tangible, concrete and progressive investigative steps in a way that would sufficiently mirror the Tribunal investigation.”

T he OSG raised four grounds in seeking the reversal of the PTC’s decision.

In the first ground, the OSG said the PTC erred in finding that the ICC could exercise its jurisdiction on the basis that the Philippines was a State party at the time of the alleged crime and that the ensuing obligations of the Statute remain applicable notwithstanding Ma -

nila’s withdrawal from the Statute.

It also said the PTC made an error in its admissibility assessment under Article 18 concerning the situation in the country.

Finally, the OSG said the PTC erred in its failure to consider all Article 17 factors.

Article 17(1) of the Rome Statute declares that a case is inadmissible in its tribunal if it is being investigated or prosecuted by a State which has jurisdiction over it, and could only open one if the State is unwilling or unable genuinely to carry out the investigation or prosecution.

O n the other hand, Article 17(2), also held an inquiry can be done if there is “unwillingness by a State or country to participate, if the proceedings were or are being undertaken or the national decision was

made for the purpose of shielding the person concerned from criminal responsibility for crimes within the jurisdiction of the Court, including crimes against humanity.

“ The reality is the Philippine Government has withdrawn from the Rome Statute and the  Court does not have jurisdiction over the situation.

“ However, even with this in mind,  the Philippine Government remains committed to the goals of the Court and actively  engaged with the Prosecution and the Court in the context of article 18 on this basis,” the OSG said.

T he Philippine government warned of “far-reaching and inimical consequences” should the appeals chamber decide to affirm the PTC decision.

“

Should the Court proceed in

the absence of a jurisdictional basis “its mandate would be adversely affected due to the implications  such acts would have for those affected by the Court’s operations, in particular suspects, witnesses and victims,” the OSG said.

“ The Court cannot overstretch its jurisdiction and it cannot unreasonably and unnecessarily exert its dominance over a State’s primary right to investigate and prosecute serious crimes. This neither serves the prosperity of the Court and more fundamentally erodes its contribution to global justice,” the OSG added.

E arlier, the DOJ said  investigation on the drug war-related deaths is ongoing and that there are 290 cases under different stages of investigation, prosecution and in court.

International Maritime Organization (IMO). The mission of WMU is to be the world center of excellence in postgraduate maritime and ocean education, research, and professional training, while building global

capacity and effective implementation of the IMO Conventions and regulations and promoting maritime sustainable development. It also promotes the roles of women in the maritime and ocean sectors.

A s an entity within the UN system, WMU has been delivering the United Nations Sustainable Development Goals (UN SDGs) on education, gender equality, affordable and clean energy, decent work and economic growth, sustainable industrialization and innovation, climate action, the oceans, peace and justice, and working in partnership.

T o date, WMU has 5,807 alumni from 170 countries and territories.

Mejia Jr. is currently Director of the PhD Program and Associate Academic Dean at the WMU.

H e studied Political Science at the United States Naval Academy, Annapolis, Maryland and went on to obtain a Master of Arts in Law & Diplomacy at the Fletcher School at Tufts University, United States.

H e is himself a graduate of WMU, having received a Master of Science in Maritime Safety Administration in 1994. Professor Mejia also has a Licentiate of Engineering and Doctor of Philosophy from Lund University in Sweden.

D.O.T. MUST HAVE MORE POWER OVER TOURISM INFRA FUNDS–SOLONS

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

THE House of Representatives will be introducing legislation to amend Republic Act 9393, otherwise known as the Tourism Act of 2009, to allow the Department of Tourism (DOT) to gain a more comprehensive control of the tourism development in the country.

Speaking at the Tourism Stakeholders’ National Summit on Wednesday, Romblon Rep. Eleandro Jesus Madrona, chairman of the chamber’s Committee on Tourism, said the revisions “will give more teeth to the Department of Tourism… and make them be on top of the funding of tourism industries. In spite of its mandate [to develop and promote tourism], it has no say on tourism infrastructure.”

At present, tourism infrastructure projects are carried out by the Tourism Infrastructure and Enterprise Zone Authority (Tieza), an attached agency of the DOT. But funding is limited to how much Tieza collects in terms of travel taxes, of which it retains 50 percent.

For instance, Tieza plans to resume the implementation of infrastructure projects  in local government units (LGUs) this year, but this will still be subject to the availability of funds. (See, “Tieza to resume implementation of at least 82 LGU projects halted by coronavirus pandemic,” in the BusinessMirror , March 8, 2023.)

T he DOT also has a convergence program with the Department of Public Works and Highways for the construction of roads that will connect gateways to key destinations in the country.

New tourism slogan by mid-year

MEANWHILE , Tourism Secretary Christina Garcia Frasco revealed an “enhanced” tourism slogan will  be rolled out, likely replacing the popular It’s More Fun in the Philip

pines tagline. “The Philippines continues to have its existing slogan, which has been around for 12 years, and this mid-year we are launching an enhanced and evolved Filipino slogan that will reflect the best of

the best of the Philippines and the Filipino brand,” she told reporters after the summit.

Tourism stakeholders groups have been lobbying for the retention  of the ‘fun’ slogan because of its effectivity. Even Senator Nancy Binay, chair of the chamber’s Committee on Tourism, cited other countries that have not been changing their respective slogan for years. Thailand, which has been using Amazing Thailand for the last two decades, launched a new branding campaign at the recent ITB Berlin, with a play on the same tagline —Visit Thailand Year 2023: Amazing New Chapters.

A bout 350 representatives from government agencies, LGUs, tourism stakeholders’ associations and organizations attended the National Summit held at the Sheraton Manila Bay Hotel. In her presentation, Frasco unveiled the long-awaited National Tourism Development Plan (NTDP) for 2023-2028, a blueprint of strategies and projects to transform the Philippines into a “tourism powerhouse in Asia.” S he noted, “The Philippines is already a global destination upon the strength of our islands and beaches, our diving and biodiversity, and our hospitality as a people. Our future growth hinges on investments in meetings and conventions, health and wellness, lifestyle and entertainment, as well as domestic and international cruising. But most importantly, becoming a truly global destination demands that we provide an authentic Filipino experience for our visitors—creating distinctly Filipino experiences through our food and farms, our fashion and festivals, our arts and crafts, our traditions and practices, and the Filipino brand of service,”

I n consultation with tourism stakeholders, the NTDP’s goals are: the improvement  of tourism infrastructure accessibility, Cohesive and Comprehensive Digitalization and Connectivity, Enhancement of Overall Tourist Experience, Equalization of Tourism Product Development and Promotion, Diversification of Portfolio through Multidimensional Tourism, Maximization of Domestic and International Tourism, and Strengthening Tourism Governance through Close Collaborations with National and Local Stakeholders.

AIM, HOUSTON U PARTNERSHIP Asian Institute of Management President and Dean Jikyeong Kang (left) and Dr. Paul Pavlou (right), University of Houston C.T. Bauer College of Business dean, sealed a Memorandum of

between AIM and the University

Editor: Jennifer A. Ng

Companies

B1

Thursday, March 16, 2023

PAL plans to double capital expenditure budget for 2023

By Lorenz S. Marasigan @lorenzmarasigan

At the media launch for PAL’s 82nd anniversary, PAL President

Stanley K. Ng said the company is investing “significantly” in improving its assets, namely the Mabuhay Lounge, a new office, as well as the upgrades and maintenance of its existing fleet.

It is also reactivating seven of its parked aircraft to end 2023 with a fleet of 75 working jets.

This, he said, requires a “huge investment,” but PAL is determined to increase its capacity, leveraging the increased demand for travel.

“The capex might be almost double because of the all the improvements that we want to invest in, including system upgrades, customer relationship management systems,” Ng said. he did not disclose an absolute

figure for both actual capex spend in 2022 and the forecast capex for 2023. he noted, however, that the outlays are already funded this year.

PAL is also optimistic about the prospects of turning a profit in 2023, with Ng saying that the results of the first quarter were positive.

“The first quarter is looking good. We are optimistic [about the full year of 2023],” he said, adding that average load factor for its domestic operations reached 85 percent, while its international operations were at 80 percent.

PAL is leveraging the growing demand for travel, now that government in territories that it operates are relaxing pandemic-related restrictions.

The airline is introducing new services to Perth, Australia and is resuming its flights to destinations in China.

“We expect that flight frequencies will increase and we will create

Meralco commissions new substation in QC

stronger connectivity locally and internationally,” Ng said.

he noted that PAL’s complete recovery from the pandemic, in terms of operations, will be far off to as late as 2028.

PAL used to have a fleet of 98 aircraft, but it had to let go of some of its planes following its restructuring in 2022.

“The Philippines is emerging as one of the highest growth markets. There are so much opportunities. The idea is to really grow back the network slowly but surely,” Ng said.

This means that PAL will achieve its 2019 level of aircraft in operation by “2027 or 2028” as it takes delivery of 13 more Airbus A321s through 2026.

It plans to also “revisit” its order and might “add” more wide body orders, specifically Airbus A350-1000s.

Ng said PAL will firm up its new order “maybe within the month or next month.”

D.M. Wenceslao 2022 income flat

By VG Cabuag @villygc

D.M. Wenceslao

and Associ-

ates Inc. (DMW), a property developer and a construction firm, on Wednesday said its income last year was relatively flat at P2.1 billion compared to the previous year’s P2.07 billion, due to economic headwinds.

Core net income, which excludes CREATE-related tax gains and other one-off gains resulting from the termination of a joint venture agreement, grew at a faster pace of 13 percent, the company said.

The company’s rental revenues consisting of rentals from land, building, and other revenues, including common use service area (CUSA), and parking fees improved 9 percent to P2.2 billion, accounting for 52 percent of total revenues.

The growth in rental revenues was driven by increased take-up in

the newly opened commercial buildings. Parking revenues increased significantly due to better mobility throughout the year, the company said.

“DMW’s business philosophy emphasizes the significance of remaining mindful of risks in the pursuit of growth opportunities. We kept our leverage ratios low with peso-denominated and fixed-rate debt that kept us insulated from forex [foreign exchange] fluctuations and the rise of interest rates,” Delfin Angelo C. Wenceslao, the company’s CEO, said.

“We also proactively locked-in favorable pricing for majority of construction materials at the outset of our projects, safeguarding our costs from the run-up in prices.”

Residential revenues rose over two-fold to P1.3 billion on the back of an increase in the number of units qualified for revenue recognition and faster construction progress. In September last year, DMW topped off the

fourth and final tower of MidPark.

“Beyond current risks, the longterm growth prospects of Philippine real estate remain bright. The Philippine Development Plan 2023-2028 aims to bring the country on-track toward achieving upper middleincome status by 2025, with annual GDP growth targets of up to 8 percent until 2028,” Wenceslao said.

“DMW heeds to this challenge through our continued build-out of Aseana City based on social and environmental sustainability principles. We remained all systems go on our expansion plans all through 2022. We signed a 1.4 hectare land lease contract with St. Luke’s Medical Center; residential construction remained in full-swing, allowing us to top-off the final tower of MidPark; and the construction of our flagship commercial project, Parqal, remained in full throttle, reaching 89 percent completion rate as of December 2022.”

Converge video experience gets Ookla nod

LISTED Converge ICT Solutions

Inc. won the Ookla Speedtest

Award for Best ISP Video Experience in the Philippines for the second half of 2022.

The company sustained its leadership in the consumer-initiated rating category after it finished at the top with a total of 80.99 video score out of 100 points.

Converge bested other internet service providers (ISP) in the country in all five criteria: adaptive start failure (the proportion of tests that failed to start), median adaptive start time (the time to first frame of video playback), median adaptive average bitrate (low bitrate means user experiences a fuzzy, low resolution video while a higher bitrate supports better viewing experience), adaptive stall events (the proportion of users with at least one stall event), and media adaptive stall severity (users who experience stalling event).

“Filipinos have spoken, and we have emerged as the ISP giving the superior video experience to them. This speaks for itself: our high speed, high capacity internet produces the best experience in streaming and consuming video content whether for gaming or entertainment,” said Dennis Anthony Uy, chief executive

officer and cofounder of Converge.

The firm has proven its leadership in the fiber internet service business, winning Most Consistent Network across five regions in the last quarter of 2021, being crowned as the Top Rated Fixed Network for the first half of 2022, and topped video streaming giant Netflix’s ISP Speed Index in December 2022.

Last November, Converge doubled the speed of its base plan to 200 Mbps from 100 Mbps at no extra cost and still offering unlimited bandwidth with no data caps. It is the first and only ISP in the Philippines to upgrade its network backbone data transmission capacity to 800 Gbps, which is capable to facilitate high-speed data transfers that are vital for streaming.

Streaming live videos can consume a huge bandwidth, but the company’s FiberX base plan enables users to play online games and stream 4K videos on their Ultra hD-enabled

devices where at least 25 Mbps is needed. With the 200 Mbps offering, it seeks to provide an optimal viewing experience to subscribers so they have the luxury of using multiple connections and activities on different devices without lag or interruption.

“Our mission has always been to give Filipinos the best digital experience. Winning this award attests to our hard work of continuously upgrading and expanding our network and diversifying our products and services,” Converge Chief Operations Officer Jesus C. Romero said.

“This award confirms the value of our end to end network design objective to implement and operate a network that is high availability, low latency and non-blocking. Video applications whether video streaming or video conferencing are very susceptible to network quality issues such latency, packet loss and jitter.” Roderick L. Abad

By Lenie Lectura @llectura

Th E Manila Electric Co.

(Meralco) said on Wednesday

it recently commissioned its new North Caloocan 115 kilovolts (kV)–34.5 kV Gas-Insulated Switchgear (GIS) Substation to serve the growing demand for electricity in its franchise area.

The substation is located along Quirino highway, Novaliches, Quezon City which unloads the forecasted critical load of Novaliches and Camarin power transformer banks, Meralco said.

The project, it added, involved the commissioning of a new 83-Megavolt ampere (MVA) power transformer, one 115-kV GIS, one 34-kV GIS, four new distribution feeders, and other substation equipment.

“The new substation will serve the growing demand in the areas of Quezon City, Caloocan City North, and portions of San Jose del Monte in Bulacan, including the expected power requirement of the MRT-7

once operational,” said the utility firm.

Mderalco earlier commissioned three more GIS substations that operate over modern networking technologies to perform monitoring, metering, real-time protection, and control. These three are located in Escoda in Manila, Pamplona Uno in Las Piñas; and Commonwealth in Quezon City.

All four smart substations have added a total of 332 MVA capacity to accommodate the growing demand of its customers.

Signifying the Meralco’s commitment to providing safe and reliable electricity service, the utility firm said it successfully passed the surveillance audit by SOCOTEC Certification Philippines, Inc. for its ISO 9001:2015 Quality Management System Certification which covers the planning, design, construction, operation and maintenance of distribution and subtransmission facilities, and provision of electric metering services to customers.

Legacy carrier Philippine airlines (PaL) is “doubling” its capital expenditures (capex) for 2023 from the year prior, as it focuses on improving its brand image while increasing the number of operating jets this year.

GSIS offers emergency loan in oil-spill areas

By Jasper Emmanuel Y. Arcalas @jearcalas

STATE-RUN Government Ser-

vice Insurance System (GSIS) said over 5,100 active government employees and pensioners, who were affected by the recent Mindoro oil spill, may now start applying for an emergency loan of up to P40,000.

In a statement, the GSIS said the application for the emergency loan is now open for the 5,170 members, composed of 4,043 active members and 1,127 old-age and disability pensioners, based in municipalities of Bansud, Bongabong, Bulalacao, Gloria, Mansalay, Naujan, Pinamalayan, Pola, and Roxas in Oriental Mindoro.

“The oil spill has affected more than half of Oriental Mindoro.

With our P129 million emergency loan program, we hope to alleviate the plight of 5,170 GSIS members who are working or residing in the affected areas and pensioners who reside there,” GSIS President and General Manager Jose Arnulfo A. Veloso was quoted in a statement issued last Wednesday.

Under the emergency loan, GSIS members who do not have existing emergency loans may borrow up to P20,000 while those with an existing loan could borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000.

The GSIS said the qualified mem-

bers are those in active service and not on leave of absence without pay; have at least three months of paid premiums within the last six months prior to application; have no pending administrative or criminal case; have no due and demandable loan; and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.

For old-age and disability pensioners, they should have a net monthly take-home pension after loan availment of at least 25 percent of their basic monthly pension.

The emergency loan is payable in three years or 36 equal monthly installments with an interest rate of 6 percent per annum.

“We are closely monitoring the situation for developments. Should the Oriental Mindoro oil spill further spread and affect other towns and provinces, we assure members and pensioners in said areas that GSIS is ready to open the emergency loan program once a state of calamity declaration has been done and required documents have been submitted to GSIS,” Veloso said.

The GSIS announced last week that it earmarked at least P315 million in emergency loans for its members and pensioners who were affected by the oil spill. The GSIS added that its emergency loan has sufficient budget for the year programmed at P6.2 billion.

BankCom net income up 49% from IPO, bond float

PUBLICLY-listed Bank of Com-

merce (BankCom) posted its highest net income since being acquired by San Miguel Corp. (SMC).

In a statement to the Philippine Stock Exchange (PSE), BankCom said its net income surged 49 percent to P1.8 billion in 2022 from P1.2 billion in 2021.

The bank said the increase in its net income was driven by the P3.37 billion of common stock capital through its initial public offering and maiden issue of P7.5B bonds.

The bank also said its stellar performance was also boosted by the Bangko Sentral ng Pilipinas’s conferment of universal bank status in November. Apart from net income, BankCom said its gross revenue increased by 30 percent to P8.12 billion from the P6.22 billion in 2021.

“[This is] due to the growth in net interest income, service charges, fees, and commissions, foreign exchange and gains on foreclosure and sale of property and equipment and foreclosed assets,” BankCom said.

Net Interest Income for 2022 surged to P6.68 billion, up 24 percent from last year’s P5.40 billion. This was mainly boosted by the increase

USAid gives ₧37.9-M grant for women in power sector

By Cai U. Ordinario @caiordinario

The grant funds will finance two projects under the “women in energy leadership, innovation and resilience” segment. The projects will boost women’s participation in renewable energy and energy efficiency innovations.

The funds were extended to the

Philippine Technological Council Inc. (Women Engineers Network) and Diwata-Women in Resource Development Inc.

“When we talk about sustainable operations, it’s not just about transitioning to cleaner energy. It also means opening management

positions to women, giving them a voice in the energy transition,” Engie Services Philippines Inc. General Manager Louella Caridad said in a statement.

As part of the grants launch, USAID gathered 180 women leaders, entrepreneurs and innovators in a two-day forum on Women Champions in Sustainable Climate Solutions, wherein participants shared their valuable insights and solutions for better addressing climate risks.

“Perhaps, this would be unthinkable, having women at the driving seat, holding the steering wheel in an agency and a sector that is predominantly still male-dominated. Yet here we [women] are powerful agents of change, playing an instrumental role, not only in the energy industry, but also in various sectors

of Philippine society,” Energy Regulatory Commission Chairman Monalisa C. Dimalanta said.

Through the Energy Secure Philippines Activity, USAid positions women at the forefront of climate action and sustainable energy development in line with its 2022 to 2030 Climate Strategy.

Based on the Official Development Assistance Portfolio Review of the National Economic and Development Authority the USAid provided the bulk of ODA capacity development grants to the country in 2021.

The USAid accounted for 46 percent share amounting to $129.03 million of the grants assistance portfolio followed by the Australia Department of Foreign Affairs and Trade with 16 percent or $46.01 million and the European Union with 14 percent or $39.55 million.

Solon asks Marcos to make investments affordable

By Jovee Marie N. dela Cruz @joveemarie

AN economist-lawmaker on Wednesday said the government should make it easier and cheaper for Filipinos to invest by passing into law the proposed Collective Investment Schemes Act.

companies [mutual funds], unit investment trust funds, and separate account funds or variable unit linked insurance products,” he said.

A collective investment scheme is an “arrangement where funds are pooled for the purpose of investing in securities and other investments.”

markets – and that is why OFWs are susceptible to scams. We are trying to solve that with the Ease of Paying Taxes Act,” Salceda said.

in interest on loans and receivables and investment securities.

Other income also supported the bank’s profit as it reached P1.43 billion, 74 percent more than the previous year’s P826.34 million. This is primarily due to the 61 percent surge in service charges, fees and commissions to P857.63 million.

The significant increase was mainly brought about by a new revenue stream, investment banking, as well as foreign exchange gains of P150.32 million which more than tripled.

BankCom also said it posted gains due to the foreclosure and sale of property and equipment and foreclosed assets amounting to P340.45 million and strong growth in trade and digital transactions.

The bank has a network of 140 branches and aims to deploy more automated teller machines (ATMs) in addition to the 259 count at end December 2022.

It traces its origins to the Overseas Bank of Manila, established in Binondo, Manila in 1963. In December 2020, the Intellectual Property Office granted the copyright license for BankCom as the bank’s official short name. Cai U. Ordinario

House Committee on Ways and Means Chairman Joey Sarte Salceda issued the statement after getting elected by the House Committee on Economic Affairs to chair the technical working group on Collective Investment Schemes, under his House Bill (HB) 642.

According to Salceda, the proposal will make it easier and cheaper for working Filipinos to invest in legitimate securities.

“Countries, including the United Kingdom, Japan, Australia, Korea and Singapore, have adopted a single law to regulate all types of CIS. Presently, the Philippines has various laws governing investment

Under current laws, which do not expressly provide for collective investment schemes, Salceda said investors need to shell out significant amounts of cash in order to make investments in “clunky” assets such as real estate or businesses.

Salceda also said entering into an investment itself is “tricky” for ordinary Filipinos.

“Only around 27 percent of households have any savings at all, and many of them are excluded from investing. If you are an OFW and you never had a TIN, you won’t be able to get one while abroad because you can only get a TIN onsite.

That is potentially $58 billion that is not being fully tapped in the formal

“But the other problem is that our assets tend to be “clunky,” In finance, we call this asset divisibility. The idea is that assets can be divided into infinitesimally small units so that the smallest retail investor can participate in investing an asset. Because we do not have a legislated CIS framework, most of our assets cannot be divided among smaller investors,” he added.

Salceda said the country needs a stronger and broader market for collective investment schemes.

“Collective investment schemes reduce the fixed costs of fund management and administration,” he said.

“There is already a working model in the REIT [Real Estate Investment Trust] law, which is basically a collective investment scheme, except the supply of investment products

comes first. This proposal simply defines a CIS as an arrangement where funds are pooled for the purpose of investing in securities and other investments,” he added.

But, the lawmaker said the government should set ground rules.

“First, the duties and responsibilities of the fund manager need to be outlined, and this bill tries to do that. The agreement to manage funds has to follow certain parameters. The decision-making for the fund, as well as custodianship arrangements need to be set,” he said.

Salceda also wants attractive tax perks for such schemes.

“As with the PIFITA [Passive Income and Financial Intermediary Taxation Act], we also propose to apply the tax treatment for shares not listed in the exchange for shares of participation for the CIS. We also propose to provide the same tax incentives we give to REITs, since the characteristics are analogous,” he said.

SVB crisis unlikely to spread to Japan–regional banker

CONCERNS about Silicon Valley Bank’s failure are “extremely unlikely” to spread to Japan, according to the nation’s top regional banker.

Renewed worries about a US recession in the wake of the lender’s collapse, and waning expectations for early rate hikes by the Bank of Japan contributed to a selloff in the stocks of local lenders in recent days, Tsutomu Yonemoto, chairman of the Regional Banks Association of Japan, said at a briefing last

Wednesday.

The sudden plunge came after bets on a shift in central bank policy—which would lift lending margins—boosted Japan’s financial stocks in recent months.

On Wednesday, most banking stocks rose across Asia Pacific as concerns over a broader fallout from Silicon Valley Bank’s sudden collapse eased. Japanese shares dominated the leaderboard, as the Topix Banks Index gained 3.3 percent, paring its 16 percent drop over

the previous three sessions.

Japanese Finance Minister Shunichi Suzuki said it was unlikely that a collapse such as SVB’s would happen in the country, and there was no need to provide liquidity like in the US. Still, Bank of Japan Governor Haruhiko Kuroda told parliament that there’s a need to carefully watch for any impact from SVB’s collapse.

Authorities have been rushing to stem the fallout and assure investors as the SVB crisis drove atten-

tion to unrealized losses related to bond and equity holdings at lenders globally.

Although SVB is an idiosyncratic event, there is also now renewed awareness of such paper bond losses, Yonemoto said.

Japanese publicly traded regional banks had 1.4 trillion yen ($10 billion) in unrealized losses on foreign bonds and other securities as of Dec. 31, according to SMBC Nikko Securities Inc. analyst Masahiko Sato. Bloomberg News

Traders in China’s $21-T bond market turn to WeChat after price feeds halted

CHINA’S bond trading was disrupted last Wednesday morning after the regulator reportedly told money brokers to suspend their data feeds due to security concerns.

Some information platforms that provide real-time bond quotes from money brokers were showing blank screens, said traders, who asked not to be identified because they’re not authorized to speak publicly. Traders have resorted to social media platforms such as Tencent’s QQ and WeChat to share quotes, they said.

Brokers including the joint ventures of Tullett Prebon and NEX International Ltd. were instructed to stop providing data to third parties in coming days due to data security concerns, Reuters reported late Tuesday, citing people familiar with the matter. Brokers previously fed price quotes to data vendors such as Ningbo Sumscope Information Technology Co. and Wind Information Co.,

Reuters said. The result of the reported ban will be falling trading volumes and a rise in conflict of interest due to inconsistent information, said Li Kai, founding partner of Beijing Shengao Fund Management Co.

“Without these data platforms to provide bond quotes, market liquidity will definitely decrease,” Li said.

“There are already issues arising in trading today. Some can’t sell their bonds while others have difficulty buying the bonds they want. There is no good alternatives apart from adding WeChat and QQ chat groups at the moment.”

Market history CHINA’S 145-trillion yuan ($21 trillion) bond market is predominantly an over-the counter market where identifying counterparties and accessing market quotes have been a long headache for traders. About a decade ago, various private-

ly-owned data

emerged to consolidate real-time bond quotes from money brokers.

Five of China’s six money brokers, which also include joint ventures of BGC Partners and Compagnie Financiere Tradition SA, received the

notice from the regulator to halt their feeds, Reuters said. Conducting data feed operations was outside the remit of brokers’ licensed business, the news agency reported.

None of the money brokers responded to requests for comment.

An official who declined to be named at Wind told Bloomberg News that starting from Wednesday, bond quotations from China’s money brokers will no longer be available on Wind’s terminal. Instead the firm will only provide trading data from China Foreign Exchange Trade System and the stock exchanges, the official said.

No quotes

AN official at another platform, Dealing Matrix, said the company wasn’t able to receive quotes from brokers on Wednesday. There have been many rumors about the data, but they haven’t been verified and there are no official documents,

said the official, who didn’t want to be named.

The regulator of the nation’s money brokers, China Banking and Insurance Regulatory Commission, didn’t immediately respond to a request for comment, nor did Sumscope, which operates the popular Qeubee data platform.

Bloomberg LP, the parent company of Bloomberg News, also offers fixed-income trading, data and information to the financial services industry. The reported move comes just after China announced plans to set up an enlarged national regulator that will absorb the banking and insurance watchdog and oversee all financial sectors except the securities industry.

Time needed

QU Qing, head of Huachuang Securities Co.’s investment advisory unit, said traders will ultimately adjust to the change. Bloomberg News

vendors such as Qeubee and Dealing Matrix

THE United States Agency for International Development (USAid) has extended P37.9 million ($690,000) in grants to promote the role of women in energy resilience and security.

This Monday, January 30, 2023, photo shows the 128-story shanghai Tower, in Lujiazui, Pudong, shanghai. Citing security concerns, Chinese regulators ordered money brokers to suspend their data feeds; they turned to social media platforms. BloomBerg News

Health& Fitness

Unprotected sex is the leading cause of HIV in the PHL—DOH

By Claudeth Mocon-Ciriaco

“If you think that you have engaged in risky behavior, get yourself tested for h I V. The test and treatment for h I V is free. All you have to do is to go to your local governments,” Vergeire said.

The DO h said that h I V is a viral infection that attacks and slowly destroys the immune system of the infected person that leads to “immune deficiency.”

It is progressive and can lead to the lack of body defense to all kinds of infection including those that don’t normally infect people and can also lead to cancer susceptibility.

Unprotected sex

Ve RG e I R e s aid that unprotected sex remains to be the leading cause of the transmission of h I V in the country.

“The most common cause ng h I V here in our country and even around the world is unsafe sex,” she said.

Likewise, Vergeire said they are also looking at mobile dating apps that tend to influence risky sexual behaviors.

This is aside from lack of awareness and peer pressure, she said.

Hiv c ases in January

The DO h said that based in the h I V/ AIDS Registry in January, of the 1,454 new h I V cases, 79 were adolescents aged 10 to 19 years old and seven were children less than 10 years old.

The report stated that most of the adolescent cases acquired h I V through sexual contact. One case, however, had no data on the mode of transmission.

transmission

The virus is passed on to another person through infected blood like blood stained needles/medical instrumentations, sexual contact be -

tween casual acquaintances or with strangers/multiple partners, or partners of infected OFW, sharing of needles among drug users or accidental needle pricking or trauma among health professionals, according to the DO h h I V infected individuals can infect unsuspecting contacts because of their normal looking physique.

The spread of the disease happens before identification of the disease is the most treacherous of all possibilities.

Not a death sentence

Ve RG e I R e s aid that h I V is not a death sentence.

h I V is no longer a death sentence.

It is not like before where people thought that h I V is a death sentence,” the DO h official said.

“The medicines that you will be taking can maintain and sustain your life and you become productive

for a very, very long time,” she added.

Action plans

I N J anuary, the DO h and the Philippine National AIDS Council (PNAC) had a strategic planning assembly to address the high number of cases of h I V and acquired immunodeficiency syndrome (AIDS) in the country.

Vergeire also assured that the D O h is committed to combat the discrimination and stigma associated with h I V.

“Through this strategic planning, the actions to address the h I V crisis combined with factors that fuel the epidemic such as social and gender inequalities, stigma and discrimination, structural barriers that prevent equitable access of affected populations to prevention, treatment, and care, and challenges placed on health, non-health and community systems, will be harmonized and concretized,” Vergeire said.

AsiAN HospitAl keeps tHe beAt Alive iN HeArt MoNtH

ON e o f the most common causes of genital cancers is the human papillomavirus, or h P V.

It infects a staggering 85 percent of sexually active men and women at least once in their lifetime.

And while many experience no health problems, there are those that do develop h P V-related diseases— from distressing genital warts to life-threatening cancers.

It is for that reason that MSD in the Philippines is re-launching Guard Against h P V, a campaign to raise awareness and encourage people to take the necessary steps to keep infections at bay, not just for themselves, but also for their significant others and the whole family.

h P V remains the most common sexually transmitted infection. Because it often shows no symptoms, people can spread it without realizing it,” explained Dr. Mary Ann Galang- e s calona, Country Medical Lead of MSD in the Philippines.

She added, “What this means is that, for many infected people, they may already have passed it on to someone they care about—their partners. If it goes untreated, it can lead to cancer.”

A silent killer

A CCORDING t o a 2019 report by the h P V Information Center, cervical cancer remains the third leading cancer killer among Filipino women. The study also says that h P V has caused virtually all of these cases.

h P V is a large group of viruses that cause growths on the body. Some strains infect the skin, such as with common warts.

Others infect mucous membranes or surfaces lining body parts that open outside, such as the genitals, anus, throat, and mouth. The latter is called genital h P V. This type can be transmitted via vaginal, anal, and oral intercourse, or rarely by genital

to genital contact without actual sex.

Genital h P V infects people in two ways. Low-risk h P V strains, such as h P V 6 and 11, are often benign, causing warts around the genital and anal area.

On the other hand, high-risk h P V strains such as h P V 16 and 18 are cancerous. h i gh-risk h P V strains that remain in the body for many years can cause changes in normal cells, turning them into abnormal cells and then into cancer when left untreated.

love that cares

A N important step in guarding against h P V is immunization. In fact, health experts recommend h P V immunization to children as young as nine years old to protect them in later life.

Parents are also encouraged to talk to their pediatricians and take advantage of school-based immunization programs for free shots.

Currently, h P V immunization is given in public schools by the Department of h e alth for fourth grade female learners with parental consent. h e alth experts also recommend adults, both males and females, to get immunized. While adults may already be exposed to h P V, the vaccine may help lower their risk for new infections.

This will allow them to take better care of their health while protecting others when they enter new relationships.

“ h P V and cancer don’t have to rob our loved ones of their future,” Galang- e s calona said. “ e v eryone deserves a future free from disease.

Let’s create that future by making a commitment to keep our partners and families safe from h P V.”

Learn more about h P V immunization by following the Guard Against h P V page on Facebook and @guardagainsthpv on Instagram. Claudeth Mocon-Ciriaco

The month of February is heart month not only because we celebrate Valentine’s Day but also because it is the month when awareness is raised about cardiovascular health.

Asian h o spital and Medical Center, one of the leading hospitals located in the south of Metro Manila, lined up a series of activities to raise awareness and prevent cardiovascular disease among Filipinos.

The hospital’s h e art Month celebration kicked off with the theme “Listen to the B e AT” last February 21, 2023 at the Asian h o spital main lobby. One of the highlights of the day’s celebration was the launch of the Asian Cardiovascular Institute’s new service offerings which include the Peripheral Artery Disease (PAD) Clinic Services the Cardiopulmonary e x ercise Testing or CP e T, and Cardio Oncology.

New services

The Peripheral Artery Disease (PAD) Clinic offers the Intermittent Pneumatic Compression (IPC), a regimen designed to promote growth of new supporting blood vessels to increase the arterial blood flow to the lower extremities, using the ArtAssist® device. PAD is a condition where the arteries in the legs narrow or become clogged, resulting in reduced blood flow. These blockages can be dangerous because they restrict circulation to the limbs and organs.

The Cardiopulmonary e xe rcise

Testing (CP e T ) is a specialized type of stress test or exercise test that measures your exercise ability.

Information about the heart and lungs is collected to understand if the body’s response to exercise is normal or abnormal.

In Cardio Oncology, the heart needs to be taken cared of during and after cancer treatment. Adverse effects on the heart may be avoided by consulting a cardiologist and an oncologist.

The Association of Mouth and Foot Painting Artists (AMFPA) of the Philippines mounted an art exhibit at the hospital lobby from February 21 to 24, 2023. Proceeds from the sale of the paintings will go to the AMFPA and the Asian ho spital Charities Inc. The day ended with the entire Asian h o spital community participating in “Talented h e

Jorge Garcia, founder of Asian Hospital and Medical Center, at the dedication ceremony. talents. A total of P125,000 worth of paintings were sold at the exhibit.

By Roderick L. Abad Contributor

MORE and more adult vapers and smokers will soon have their last puff of either of the two as they begin switching to e-cigarettes as a better alternative for their habit, according to experts at RELX International.

These specialists from the leading electronic cigarette company emphasized the significance of dependable vapor products and quality testing standards for the best interest of consumers.

tH e members of Asian Hospital’s Department of Dental Medicine headed by Dr. peachy

An online symposium was held on February 22, 2023 with the title “ h e art-to- h e art Talk: Raising Awareness on Innovative Cardiovascular Care.” Guest speakers included Dr. Fabio e n rique B. Posas, h e ad of Asian h o spital’s Structural h eart Disease and e n dovascular Therapy, who spoke about “Minimally Invasive Procedure for Structural and Vascular h e art Disease,” and Dr. e d uardo O. Yambao, h e ad of Preventive Cardiology and Cardiac Rehabilitation, who tackled “Overview of Cardiopulmonary e x ercise Testing.” The online webinar was well attended by doctors, nurses and allied medical staff.

Dedication of surgery suites

PROBABLY the highlight of the he art Month Celebration is the dedication and renaming of Asian h o spital’s Operating Room Complex to “Dr. Jorge M. Garcia Surgical Suites” to celebrate the man who embodies what Asian h o spital is and will be in the future.

Dr. Garcia, together with his fam -

ily, were on hand to witness the unveiling of the brass marker and signage also on February 21, to honor his contribution to nation building and his desire to build Asian h o spital for patients and the communities that it serves.

Leading the dedication ceremony were Dr. Beaver R. Tamesis, Asian h o spital’s President and C e O, and Dr. Jose M. Acuin, the hospital’s Chief Medical Officer.

social responsibility

Fe B RuA RY i s also National Dental h e alth Month and this year’s theme is “Ngiping Protektado, Ngiting Panalo.” To celebrate this, Asian h o spitals’ Department of Dental Medicine, headed by its chairman Dr. Peachy Tala-Sunico, together with Asian Charities Inc., conducted a Dental Medicine Mission last February 22, 2023 at the Marillac h i lls National Training School for Girls.

The goal of the outreach program is to raise awareness on the importance of oral health. In addition to the health talk, there were games with prizes for lucky winners and food packs for participants.

B ecause of this, the firm is strengthening its capability to make sure that it is providing them with products that meet international quality and reliability standards.

“Quality is our key priority. Only products that meet our high-quality standards are delivered to retailers and customers,” said Di Yang, general manager at RELX International.

B y doing so, the company maintains stringent testing and quality standards that follow government benchmarks in markets where it operates and guidelines for e-cigarette products.

With its unrelenting focus on quality while staying true to the brand’s “Super Smooth” promise, RELX has established five laboratories in China over a period of five years to produce the best products and create vaping experience that raise the bar for the quality, reliable and product experience for the industry.

To meet international standards, all its products undergo various rigorous procedures for quality control (QC).

S o for each production and development stage, the process involves 58 inspection methods, 18 strict QC measures, and over 200 trials to guarantee consistency and reliability.

What makes your e-liquid RELX is very keen about the high-value

ingredients that comprise its e-liquids.

O ther e-liquids available in the market, especially bogus ones and altered vaping tools, do not comply with regulated standards or ingredients’ list that do not match the contents on their packaging.

O ther than quality, honesty and transparency are important to ascertain if a product is good or bad.

The firm has ensured the safety of consumers by using ingredients from the food industry, including vegetable glycerin and propylene glycol.

T he former is commonly used in baking and e-liquids to get a thicker consistency, as the latter is usually utilized to make bread or keep the e-liquid stable in different environments.

bioscience lab

IN order to give insights on the effects of e-cigarettes, RELX has also put up an exclusive e-cigarette bioscience laboratory in Shenzhen, China.

This facility conducts research on the evaluation and comprehensive impact of vapor products.

T he lab also aims to provide global outlooks on the areas that need more long-term research, such as the actual harm reduction elements of e-cigarettes and other potential effects of vaping, especially to the user’s health.

“For us, it is crucially important to increase our knowledge on the effects and mechanics involved with e-cigarettes to become a more trustworthy and better solution for existing smokers to successfully quit,” said Yang.

“As the vaping industry is under a lot of scrutiny, we are committed to ensuring that our products are backed by technology. Our state-of-the-art production capabilities and bioscience laboratory will help us bring better and reliable alternatives,” he added

Editor: Anne Ruth Dela Cruz

tala-sunico.

Dr.

If you think you have been exposed to the HIV virus, Department of Health officer-in-charge Maria Rosario Vergeire said that it is important to get tested and to start treatment.

pHArMA CoMpANy re-lAUNCHes ‘GUArD AGAiNst Hpv’ CAMpAiGN

E-cigarette maker sets industry benchmarks for a quality product

THERE is nothing quite like the bond between a cat and its owner. Earning your cat’s love isn’t as hard as you might think. It’s all about taking steps to keep your cat healthy and happy, such as giving your pet the right cat food for every stage of its life. But with so many cat food options to choose from, where do you even begin?

To simplify things, here are some useful pointers from Goodest, an affordable wet cat food brand, to help you choose the best cat food for your adorable feline friend.

For starters, cat owners need to keep in mind that cats are obligate carnivores which means that they need meat in their diet to thrive. When choosing cat food, be sure to always check the ingredient list to confirm that it has high-quality meat ingredients like chicken, tuna, beef, or turkey.

Luckily, Goodest Cat (www.goodestpetfood.com), a locally made wet cat food brand, makes this easier for you by offering three extra-scrumptious flavors made with the freshest meat ingredients that are enriched with vitamins and minerals that will give your cat the complete nourishment that it needs: Tender Tuna, Chicken Chomp, and Meaty Mackerel. One pouch contains 85g of pure goodness that’s available for as low as P26.15 with a shelf-life of up to 24 months.

Another thing to consider when choosing the right cat food for your furbaby is your cat’s life stage. Whether you’re searching for kitten food or senior cat food, selecting one that provides your cat with the optimum nutrition it needs at each life stage can help to ensure a long and healthy life. Good thing, Goodest Cat is a nutritious cat food that is fit for kittens, pregnant cats, and even for adult and senior cats. No need to worry about switching your cat’s food as it ages. With Goodest Cat, you can be sure your cat will get all the nourishment they need as they grow and mature.

It’s also vial to look for a cat food product that is certified by the Association of American Feed Control Officials (AAFCO), which means the pet food brand abides by industry standards and has been independently tested and deemed safe for pets. Goodest Cat is approved by experts and follows the standards of quality and safe pet food set by AAFCO, making sure that your furry family member only enjoys the best, healthy, and safer mealtime every time.

By learning everything you can about what’s best for your cat, the more you can give your much loved fluffer the right nutrition they need to stay happy and healthy, throughout its life. Remember, the healthier and happier your cat is, the deeper your bond and love will grow.

Parentlife BusinessMirror

Preschool edition of family love and laughter ‘play list’

LAST week, I discussed my “play list” for toddlers. I enumerated five types of activities that can build toddler-needed skills in a fun and play-based approach. There is no need to worry if your preschoolers were not able to go through the toddler activities I laid out. Your preschoolers are still in their formative years. They will be open to preschool activities if we make them as fun and loving as we can.

For my own preschoolers at the time, my husband and I decided to send my children to a traditional school with larger class sizes. However, at home and in their extra-curricular activities, I would augment with play-based and more explorative activities. I injected discipline with routines at home but allowed them to be free on their “hows” when they played. For example, during art time, I did not hover over what they would draw or whether they were coloring within the lines.

At this stage also, try to check how your child is developing basic skills like listening, following instructions, and understanding logic because they are the foundations of how information is picked up by children and how will perform in subjects in school. If you feel there is any topic your child is having difficulty on, try to tackle the “why” as well as the “what.” For example, when your child is having difficulty learning to read basic words, it might help to discuss with experts like teachers if the issue is really the reading skill, or might it have something to do with the child’s listening or logic skills. I am sure that like me, many parents’ main concern for their preschooler is how to make them “Big School Ready.”

According to renowned developmental pediatrician Dr. Francis Xavier Dimalanta, in his Dr. D’s Happy Learning World Learning Boxes with Ogallala, we need to “provide activities that allow them to enjoy learning literacy and numeracy through games, puzzles and art-infused learning. We also build their confidence through developing critical thinking and motor skills through games and active play.”

Personally, being an early childhood educator and a parent, I recommend play tools and activities that build our children’s skill-building, brain-building and socio-emotional learning (SEL) skills. My main emotional goals for my preschoolers then were their sense of security, patience, understanding how they learn, and them enjoying adventures.

These goals became the basis of how I picked the activities, as well as the play tools/toys, that I would buy and prepare each month.

Below were my top picks for building love and laughter as a family during my children’s preschool years:

1. Performing. We had weekend performance nights on some Saturdays, where each of us got to pick a song to sing and dance to. I remember my daughter’s phase of singing Katy Perry’s “Roar” so intensely. For boys, I would suggest bringing out your children’s stash of musical instruments, then let them choose

TikTok sets new default time limits for minors

TIKTOK said on Wednesday that every account held by a user under the age of 18 will have a default 60-minute daily screen time limit in the coming weeks. The changes arrive during a period in which there are growing concerns among different governments about the app’s security and ability to alter its algorithm to push certain posts.

The update also mirrors gaming rules imposed on minors in China, where TikTok’s parent company ByteDance was formerly based. ByteDance now says it has no headquarters because it is a global business and that instead it has leaders in Singapore, New York and elsewhere managing its business. In 2021, Chinese authorities issued new rules that let minors play online games for only an hour a day and only on Fridays, weekends and public holidays—an effort to curb internet addiction.

In the US, families have struggled with limiting the amount of time their children spend on the Chineseowned video sharing app. According to the Pew Research Center, about two-thirds of Americans teens use TikTok.

Cormac Keenan, head of trust and safety at TikTok, said in a blog post Wednesday that when the 60-minute limit is reached, minors will be prompted

to enter a passcode and make an “active decision” to keep watching. For accounts where the user is under the age of 13, a parent or guardian will have to set or enter an existing passcode to allow 30 minutes of extra viewing time once the initial 60-minute limit is reached. TikTok said it came up with the 60-minute threshold by consulting academic research and experts from the Digital Wellness Lab at Boston Children’s Hospital.

There have long been concerns about what minors are exposed to on social media and the potential harm it might do. A report released late last year suggested that TikTok’s algorithms are promoting videos about self-harm and eating disorders to vulnerable teens.

Instagram, which is owned by Facebook parent Meta, has also faced similar accusations.

Social-media algorithms work by identifying topics and content of interest to a user, who is then sent more of the same as a way to maximize their time on the site. But social-media critics say the same algorithms that promote content about a particular sports team, hobby or dance craze can send users down a rabbit hole of harmful content.

TikTok also said Wednesday that it will also begin prompting teens to set a daily screen time limit if they

their instrument. I remember Marcus picking a guitar and freely just played laughingly in front of us. I think this might have contributed to him playing the violin for 8 years.

2. Puzzle play and games. Since both my husband and I were not the most patient people by nature, I researched on activities that can build patience. Aside from learning an instrument, I discovered puzzle play is a good play tool for this. I also discovered how the texture and thickness of a puzzle makes a difference in building a child’s interest in forming them. We started with wooden puzzles, then progressed to tangrams and thick cardboard puzzles. If the puzzle pieces were a lot for my preschooler, I would divide the puzzle into 4, then would ask her to form a quarter of a puzzle, then I would do the rest. As we did it again, they we would do half each and so forth until they were able to do the whole puzzle themselves. We also played games each Saturday Game Night. Each family member chose their preferred game and waited for turn until their game was played.

3. Art and exploration activities. I introduced regular crayons and colored pencils to develop their soft motor and writing skills. On weekends, I also brought them to art museums and encouraged them to do their own “masterpieces” at home. We annually attend the art fair at The Link. Like in their toddler years, we also explored many places during weekends. I would bring them to science museums, zoos, and other provinces. There, we would learn about facts or see the real-life subjects from what they were learning in school.

4. Chores. This was a fun time for my children to get to try out the skills they learned during pretend play. Because their pretend play cooking or cleaning toys then were closest to the real tools as well as childsized, they were eager to use real-life mixing bowls, wisks and other household tools in their preschool years. At least once a month in our weekend play nights would be either cooking or baking. I loved using IKEA kitchen tools because they had similar ones to my children’s Melissa and Doug toys. n

opt out of the 60-minute default. The company will send weekly inbox notifications to teen accounts with a screen time recap.

Some of TikTok’s existing safety features for teen accounts include having accounts set to private by default for those between the ages of 13 and 15 and providing direct messaging availability only to those accounts where the user is 16 or older.

TikTok announced a number of changes for all users, including the ability to set customized screen time limits for each day of the week and allowing users to set a schedule to mute notifications. The company is also launching a sleep reminder to help people plan when they want to be offline at night. For the sleep feature, users will be able to set a time and when the time arrives, a pop-up will remind the user that it’s time to log off.

Outside of exorbitant use by some minors, there is growing concern about the app around the world. The European Parliament, the European Commission and the EU Council have banned TikTok from being installed on official devices. That follows similar actions taken by the US federal government, Congress and more than half of the 50 US states. Canada has also banned it from government devices. AP

FURBABIES TAKE THE SPOTLIGHT

A FAVORITE creative studio concept for socialmedia content is back at SM City Fairview. This time, the furbabies of families are the superstars at the Creator Studio for Pets at the mall’s Upper Ground Level, Central Walk.

Snap paws, enjoy a furry fun moment, or showcase your pet’s amazing personality in a fun, unique, interactive and creative space for furbabies and their families at the Creator Studio for Pets PAWtraction.

The PAWtraction features four different unique themed studios: the Beach Studio, Celebrate With Me Studio, sPAWtlight Studio, and Bath Time Studio.

With summer on the horizon, The Beach Studio brings summer to the city as pets bask in the sun in a giant chair. Don’t forget to dress them up in summer perfect OOTD fashion.

Get the party started and surround furbabies and buddies with gift boxes and party balloons in the Celebrate With Me Studio. Capture that memorable milestone and special pet love moment.

Each studio is equipped with fun props, a camera stand, a ring light, lightbox so users can capture the perfect moments of every family and individual’s beloved furbaby, creating perfect Instagram-worthy photos or entertaining TikTok videos. Access to the studios is free to all members of SM Super Pets Club (www.smsuperpetsclub.com).

PHOTO BY KRISTIN BROWN ON UNSPLASH

THE Beach Studio and Celebrate With Me Studio are equipped with camera stands, ring lights, and lightboxes to create the perfect Instagram-worthy photos and entertaining TikTok video.

Simple guide in choosing right food for feline family members

NGCP, NICA seal partnership for enhanced safety, security of transmission assets

POWER transmission network operator National Grid Corporation of the Philippines (NGCP) reinforces its commitment to deliver reliable transmission services across the country by enhancing the safety and security of its transmission assets through the signing of a Memorandum of Understanding (MOU) with the National Intelligence Coordinating Agency (NICA).

NGCP sealed its partnership with NICA in a signing ceremony at the Malacañan Palace on March 13, 2023 witnessed by President Ferdinand R. Marcos, Jr.

Signing the MOU were NGCP President and CEO Anthony L. Almeda and NICA Director General Retired Police Lt. Gen. Ricardo F. De Leon.

Under the MOU, NICA commits to supply NGCP with intelligence information to support the protection of power transmission assets operated and maintained by NGCP across the country. NGCP, on the other hand, commits to provide technical assistance to NICA to support and further establish their cybersecurity capability.

“NGCP has dealt with sabotage and bombing incidents in the past years which affected not only the reliable delivery of power in the areas affected, but other incidents also resulted in the injury of transmission line personnel and military escorts patrolling the areas to conduct line clearing and maintenance activities. The Memorandum of Understanding between NGCP and NICA will be a shared commitment to exchange intelligence and provide support to accomplish our respective mandates,” NGCP said.

In his speech, President Marcos highlighted the importance of the MOU in reinforcing the country’s security measures. "Since NGCP is a

critical, critical part of our security, now we have made more robust the defenses against any possible attacks on our power systems, on any other elements in our everyday lives that require power, and for that matter, that require the exchange of secure information amongst ourselves in society,” he said.

“I thank the NGCP for taking the initiative here. There have been fears that the involvement of any foreign entity in our power transmission system would present a security threat to the Philippines. This is a very good step towards answering that challenge,” the President added.

President Marcos also emphasized that, “it is but one step because we are continuing to do this not only with NGCP but we are developing our cybersystems so that we are secure and so that the data that we need to collect and to disseminate

Grill expert Mang Inasal wins Silver Anvil for Mother's Day digital, PR campaign #MomsRuleAt MangInasal

is available to us, and we are able to do and handle the data in a secure fashion without the risk of it being used somehow against the Philippines. Let this be an example to all the other sectors that could be assessed to be at risk when it comes to cybersecurity. It is a good signal to all of us who have concerns in this regard – that we are doing many things to make sure that the Philippines remains secure, that the Philippines remains in accordance with international law, that the Philippines and its people can rest assured that their territory, their data, their personal information will not be used against us, and that they can feel secure.”

The MOU Signing was also witnessed by Department of National Defense Officer-in-Charge Senior Undersecretary Carlito Galvez, Jr., and representatives from the National Security Council and the Department of Energy.

Nonprofit group I am MAD reunites, announces full in-person volunteer opportunities at ‘MAD Meet’

TO reignite the “MADgic” of volunteerism, I am MAD (Making A Difference) Volunteers Inc., a nationwide nonprofit, non-governmental organization, gathered recently in Botolan, Zambales for its annual “MAD Meet.”

Formerly known as “MAD Convention,” the annual volunteers’ get-together was rebranded as MAD Meet to coincide with the celebration of the NGO’s 13th anniversary and the return of its full faceto-face community engagements.

With the theme “Reignite the MADgic: Celebrating 13 Years of Volunteerism,” the two-day grand reunion of volunteers from all over the country focused on rekindling the spark among past and present members, relighting their paths forward, reawakening their vision for the organization, renewing their passions, and reliving the MADgic of volunteerism for the community.

“This is one of our initiatives to bring back or reignite the MADgic within us.

We tried to rebrand the gathering into a more intimate and purposeful type while maintaining the fun that we always apply in all our MAD Camps,” explained Maco Ravanzo, co-founder and chief executive volunteer of I am MAD, during the prelude program at Sambali Beach Farm.

Ravanzo also added that the organization wants the volunteers to experience the MADgic again together and “learn something new” before they start the camps scheduled this year.

During that short visit to the farm, volunteers had the opportunity to explore, experience, and educate themselves more about organic and sustainable farming. This was initiated by the owner, Philip Camara, who then showed how the eco-farm uses biochar, or carbonized biomass, which is agricultural waste made into charcoal, to grow various vegetables and raise livestock.

Sambali Beach Farm is an organic farm in Botolan, Zambales, founded by Ching Camara, that promotes sustainable farming,

agritourism, and community enterprise support. The farm’s goal and vision in the long run is for the farm to be a center for sustainability and healing, as well as a place where people can go to be with nature, have clean air, and clean food.

The volunteer group continued the remainder of the MAD Meet activities by staying at Simoy Norte Private Resort, where they were served a sumptuous meal courtesy of Ahyanella’s Samgyupsal in a Bowl and Chef’s Corner Meat Outlet.

Highlighted in a Havana-themed night, the event likewise presented the organization’s accomplishments and a fresh set of leaders, including its “Dream Team” leads for each of the 10 target areas in the Philippines, along with the official list of the 2023 MAD Camp volunteer opportunities, which are open to all.

In his short message, Christian Marx Rivero, I am MAD co-founder and chairman, reminded the volunteers about the goal and advocacy of the organization.

“A volunteer’s registration fee to a MAD Camp is not a payment for comfort. It is an investment for a lifetime experience,” said Rivero as he emphasized that joining the volunteer work is for the lessons they will gain in making a difference together with each other and the communities it serves.

The night was capped off with “Gawad I am MAD” (Star MADgic Night), which recognized all the volunteers behind the successful conduct of I am MAD programs, initiatives, and engagements from the onset of the pandemic in 2020 to 2022. Some of the special awardees and raffle winners received gift certificates and other items courtesy of its sponsors — Power Mac Center, Metrobank, and CID Communication.

MANG Inasal, the country’s Grill Expert, bagged a Silver Anvil under the Public Relations Tool

- Social Media category at the 58th Anvil Awards held recently at the Marriott Grand Ballroom in Newport City, Pasay.

The recognition was for Mang Inasal’s Mother’s Day Digital Marketing and PR campaign titled #MomsRuleAtMangInasal

that utilized Facebook as its primary tool in generating awareness and engagements for its week-long dine-in promo in May 2022. The campaign engaged social media users by creating diverse content, such as hosting a virtual Mother’s Day Conference, and running a dine-in photo challenge that drove customers to stores to celebrate the season. Conferred annually by the Public Relations Society of the Philippines, the Anvil is a symbol of excellence in public relations in the country. The Anvil Awards recognize outstanding public relations tools, programs, and practitioners discerned by select PR professionals and assessed by a distinguished multi-sectoral jury.

In 2022, Mang Inasal was also honored by the Marketing Excellence AwardsPhilippines with a Silver Award – Excellence in Viral Marketing for the brand’s “16 Cups Challenge.”

Thinking of starting your own business but short on funds? Eligible GCash users can do so with GLoan

THE pandemic brought the country to a nearstandstill when, according to the Philippine Statistics Authority, around 7.3 million Filipinos lost their jobs and were forced to find new means of living. However, with openness to using digital innovations and the perseverance to bounce back, some saw it as a turning point and a start of new beginnings.

Such is the case of Cocoy Rubio, who only had P700 when he started his mobile bike cafe business, fresh out of being laid off as a bartender for six years.

Taking a leap of faith, Cocoy used GCash to easily purchase supplies and enable customer payments, eventually building what is now known as The Bike Coffee in Cagayan de Oro. Cocoy’s journey of determination and grit is only one of the stories of the 70 million Filipinos who use GCash, retold through the #GCashStories digital series.

Just like Rubio, many Filipinos aspire to start their own business, but are held back by the lack of starting capital. To fund their enterprise or expand their existing ventures, Filipino business owners consider seeking loans from formal lending institutions, such as traditional banks. However, a report from the Bangko Sentral ng Pilipinas (BSP) shows only 56 percent of Filipinos are banked or own formal bank accounts, making access to resources greatly limited.

The BSP also reports that 65 percent of adult Filipino borrowers perceive loan application from banks as difficult. Most lack the necessary documentary requirements, do not have enough IDs, do not meet the minimum salary or income, and do not have collateral to support their application.

As the nation strives to bounce back, GCash inspires Filipinos to take a step towards funding their future by providing a more accessible and convenient way of borrowing money without judgment. To provide more Filipinos with easy access to extra funds, GCash offers GLoan, its cash loan product. This offers a credible and easier alternative to traditional banks and other formal lending agencies without sacrificing their safety.

GLoan allows eligible GCash users to

borrow up to PHP 125,000 cash sent straight to their GCash wallet, which can be used for multiple purposes, whether for restocking supplies, upgrading equipment, funding rental fees and even enrolling for a course that will help them upskill.

While typical traditional bank approvals take multiple days or months, GLoan offers instant approval for eligible users with no additional requirements needed. As GLoan eligibility is predetermined, there is no need for users to disclose their financial situation through income documents and trade references. Loan applications can be accomplished within the app, minimizing the need for face-to-face transactions, filling out application forms or submitting physical documents.

Eligible GCash users who wish to avail GLoan can choose their loan amount from P1,000 to a maximum of P125,000, and receive it straight to their GCash wallet. With competitive interest rates as low as 1.59 percent per month for five to 24 months, GLoan provides the same credible and secure experience of loaning from banks.

To be eligible for GLoan, users must have a fully verified GCash profile and must maintain a qualified GScore, which is the app’s trust rating reflecting their GCash activity. Increasing or maintaining one’s GScore can be done by maintaining an active GCash wallet balance, regularly using different GCash services and paying dues early or on time.

Inspired by Cocoy and ready to start your biz? Sagot ka namin. Access GLoan through the GCash dashboard under “Borrow.” Download the GCash app on the App Store or Google Play now and jumpstart your dreams. Kaya Mo, I-GCash mo.

history. During the event, PDO President Prim Nolido thanked and congratulated everyone on their record-breaking sales performance in 2022 and challenged the group to set a new record again this year. To support upcoming project launches, the residential property developer is expanding its sales network across the country by hiring more brokers and in-house sellers.

ORO

SALES RALLY. Pueblo de Oro Development Corporation (PDO) recently gathered sales and marketing teams, led by PDO Vice President for Sales and Marketing Lemuel Branal, for a sales kick-off and rally held simultaneously nationwide at all four of its sites in Pampanga, Batangas, Cebu, and Cagayan de Oro – a first in the company’s

Envoys&Expats

PHL ambassador: China defense budget hike ‘normal’

especially the United States…they have been increasing their military capability budget all these years, and again, the Chinese compare theirs with America.”

of the first session of the 14th NPC on March 5, Chinese Premier Li Keqiang said China’s “armed forces should intensify military training and preparedness across the board.”

The Philippine’s ambassador to the People’s Republic of China Jaime FlorCruz believes the Asian superpower’s “defense strategy is more conditioned with their rivalry with [others,] and…not aimed at any regular region like ours.”

According to FlorCruz, Chinese officials explained that the defense budget for 2023 has grown by 7.2 percent to 1.55 trillion yuan, or about $225 billion, for their national interest.

In a media interview at the Philippine Embassy in the Chinese capital city, the Filipino envoy said he is hoping that “big powers” will pursue peaceful approaches to resolving issues, “especially in our region, in our backyard.”

The Philippines, as one of the 10 member-countries of the Asean, including China, have overlapping claims in the West Philippine Sea/ South China Sea.

FlorCruz said it is not surpris-

ing that rising powers like China, the world’s second-largest economy, keep on beefing up their defense capabilities.

“I think the Chinese concept is: to prevent war, we have to prepare in case of war,” he said. “If you think of the other countries,

Canada boosts international immigration-processing capacity

GIVEN the importance of the Indo-Pacific and the impact of such on its citizens, a comprehensive and inclusive strategy is deemed crucial to guide Canada’s actions.

To this end, the North American country is investing in fostering ties between Canadians and the region as part of its Indo-Pacific Strategy.

Rechie Valdez, a member of Parliament for Mississauga, Streetsville recently announced on behalf of Minister of Immigration for Refugees and Citizenship Sean Fraser the opening of a new application processing center in Manila. This initiative supports Canada’s IndoPacific Strategy and helps boost immigration application processing within Canada’s centralized network, as well as abroad.

The new hub is located within

Canada’s Embassy in Manila and will be supported by 37 new employees. The added capacity is part of its ongoing efforts to accommodate the high volume of visa applications from around the world, and will aid ongoing efforts to also improve client service while helping achieve Canada’s planned increases to immigration levels in the years to come.

By expanding its presence overseas, Canada is making strategic investments, with the goal of welcoming more people: whether to visit, study, work or immigrate permanently.

“[Our] Indo-Pacific Strategy is crucial in addressing the impact of the region on Canadians, including the Filipino community,” Valdez imparted. “The opening of the new application processing center in Manila is a strategic investment that will benefit Filipinos by providing more

efficient processing of visas and supporting Canada’s planned increases to immigration levels.”

“Canada is set to welcome a record number of newcomers in the years ahead to fuel our economic growth,” Fraser said. “This will give us an advantage in the global race for talent, and support key sectors and industries. [It is another example of my country’s work in boosting immigration processing, as we continue to promote greater diversity among those looking to visit, study, work and live there].”

Minister of Foreign Affairs Mélanie Joly shared: “This operations center will help facilitate travel, attract highly skilled workers…and meet the needs of our economy today and in the future.”

Canada’s Immigration Levels Plan has set targets of 465,000 permanent residents in 2023, 485,000 in 2024

Envoy bats for greater PHL exports to Qatar

DOHA—Exportation of more products could enhance bilateral trade between the Philippines and Qatar.

During the two-day businessmatching session in the capital city of Qatar in February, Ambassador of the Philippines Lillibeth Pono said 2021 annual bilateral trade between the two countries was around $224 million, of which $46 million were exports from the latter.

Pono said this gap in the balance of payment in favor of the Gulf State can be minimized, considering an International Trade Center report that cited the Philippines having the potential to increase its exports of food- and agro-based products to Qatar by over $19 million.

“These are not only trade of products in the [Qatari] market; it is promoting the great name of

the Philippines in this region,” the envoy said.

She added that Philippine products meet global standards of quality. As such, these are marketable and can withstand the dynamics of ups-and-downs in the global trade and economic environment.

Philippine goods and personal health-care items are not just for Filipinos and Asians, explained Pono, but these also cater to the taste of all other cultures, as she noted the enormous opportunities that can enhance trade between the two countries.

According to her, Qatar ranks 41st among the trade partners of the Philippines. The Middle Eastern country is home to over 260,000 Filipinos and a large number of other Asian expatriates; thus, a substantial size of the Qatari population has similar tastes.

In the same event, Foreign

Trade Service Corps Assistant Secretary Glenn Peñaranda thanked the ambassador for her presence and support to the visiting delegation and the Philippine products.

Peñaranda said his delegation was not visiting just to trade their products, but also pursue mutually beneficial business relationships.

He said the Philippines is blessed with fertile lands, rich and diversified marine resources, as well as highly skilled manpower, as the country aims to serve Qatar’s mainstream market.

The assistant secretary headed the 14-member Filipino exporters’ delegation to the businessmatching event organized by the embassy of Philippines in Qatar, in collaboration with the Department of Trade and Industry. The delegation previously visited Bahrain and Kuwait. Ashraf Siddiqui/PNA

and 500,000 in 2025.

Immigration, Refugees and Citizenship Canada has visa offices in more than 50 locations in Canadian embassies, high commissions, and consulates around the world.

As part of its Indo-Pacific Strategy, the government of Canada, according to its embassy, is investing $74.6 million over five years, and $15.7 million ongoing, to boost the department’s application-processing capacity both domestically and in the region.

It also said that ever-increasing people-to-people ties between Canada and the Philippines contribute to the growth of both societies. According to the 2021 census, 960,000 Filipinos live in Canada, with a growing number visiting family and friends there, studying at Canadian colleges and universities, or staying there for good.

In the March 4 press conference, spokesperson for the first session of 14th the National People’s Congress Wang Chao described China’s defense budget increase as “appropriate and reasonable.”

The figure is slightly higher compared to last year’s 7.1 percent, marking eight consecutive years that China has increased its defense spend. Wang said the hike is needed for meeting complex security challenges, and for China to fulfill its responsibilities as a major country.

In delivering the government’s work report during the opening

“The people’s armed forces [has] intensified efforts to enhance their political loyalty; to strengthen themselves through reform, scientific and technological advances, and personnel training; and to practice law-based governance,” Li said. “They stepped up military training, increased combat preparedness, and became a much more modernized and capable fighting force.”

The premier also said China's economy is expected to grow around 5 percent this year.

PNA/Liza T. Agoot

Switzerland: Tourism from Asean

recovers impressively in 2022

SWITZERLAND Tourism (ST)-

Philippines has just announced the remarkable recovery of overnight stays from Southeast Asia to the European country in 2022, which reached 96.4 percent of 2019 prior to the pandemic.

That growth is forecast to be sustained in the upcoming years. During its spring media briefing at the Swiss ambassador’s residence on March 7, ST introduced its strategy to attract more Southeast Asian families as they discover Switzerland by public transport on the “Grand Train Tour.”

With 623,646 overnight stays in 2022, Southeast Asian—particularly those from Singapore, Thailand, Malaysia, Indonesia and the Philippines—is considered the “best-recovering market in the AsiaPacific Region.” Within Asean, Singapore (+26.5 percent) and Malaysia (+13.8 percent) recovered quickly, with yearly results already overperforming 2019.

The Philippines, where ST opened a new antenna last year, followed a similar trend but at a different pace. January to July still generated 48-percent fewer overnights compared to 2019. However, a strong growth of +21 percent was observed from August to December.

Ambassador Alain Gaschen expressed his satisfaction: “I am impressed to see the quick recovery of the Philippine market for the Swiss tourism industry. Switzerland has much to offer Filipinos: from its natural landscapes, to its rich cultural heritage. We look forward to welcoming more visitors and families in the coming years.”

According to ST's and Oxford Economics' forecast, overnights from Southeast Asia will continue their strong growth in 2023, with a 19-percent increase compared to last year.

“We are confident that Switzerland will continue to be a preferred travel destination for Southeast Asian travelers,” said Batiste Pilet, Director of Southeast Asia for ST. “We have been working hard…to ensure that Switzerland remains top-ofmind, and is perceived as a safe and sustainable destination. We are thrilled to see that our efforts are paying off. In spring this year we concentrate on tapping into the family travel segment and promoting extended stays in Switzerland.”

Grand Train Tour

SWITZERLAND is an ideal destination for family travel. Its Grand Train Tour is the ultimate train journey to discover the said country’s scenic spots, combining famous panoramic lines into one breathtaking route over eight stages. Available year-round, this route spanning 1,280 kilometers leads from some of the most charming Swiss cities to Alpine villages. The itinerary encompasses some of that country's most well-known sights and landmarks.

Some of the top family-friendly activities along the Grand Train Tour are:

Zurich - Enjoy magnificent cherry blossoms while picnicking in the park, or learn about the secrets of chocolate Easter bunnies at Lindt (home of chocolate).

Jungfrau Region - Ride the train to the “Top of Europe,” or the cable car in Grindelwald to find an idyllic playground with swings, climbing structures, sand, and a water-play area.

Schilthorn - Visit Spy World at Piz Gloria, and become a special agent, or challenge your courage on the Thrill Walk in Birg.

Matterhorn Region - Spend time with Saint Bernard dogs: Switzerland's mascots at Barryland in Martigny, or venture into Switzerland's largest underground lake in St. Leonard.

Zermatt–Matterhorn - Glide down the mountain with FunVenture carts or bikes, or take a family photo in front of the iconic Matterhorn on Gornergrat.

Graubünden - Train for winter at the Freestyle Academy in Laax, or try the Madrisa Land toboggans in Davos Klosters.

RhB–Bernina Express - Try the historical train, then cross the famous Landwasser bridge or admire the bridge from below, taking the Landwasser Express.

Lake Lucerne Region - Enjoy a cruise aboard the panoramic yacht Saphir on Lake Lucerne and climb Mount Pilatus to play in the Fräkmüntegg rope park.

Titlis - This certified family destination offers a free vacation program for children. There are countless activities, family-friendly hikes, spectacular playgrounds, and plenty of action on the mountain or in the valley.

MOVING PEOPLE To promote safe, efficient and sustainable mobility solutions, the Embassy of Sweden and the European Chamber of Commerce-Visayas Chapters staged the "European Sustainable Transportation for the Visayas Market: Urban Transportation and Decarbonization" forum on March 1. Ambassador Annika Thunborg provided the keynote and joined the panel, along with Mayor Jerry Treñas of Iloilo City and key industry officials. FB: OFFICIAL JERRY TREÑAS

‘TVET’ TACKLED Ambassador William Carlos paid a courtesy call to Technical Education and Skills Development Authority director general Danilo Cruz on March 1 to personally discuss the possible partnership between Ireland and the Philippines on skills and technical education toward an industry-driven technical-vocational education and training or TVET. FB: TESDA

APPRECIATION FOR ADB Ambassador Dr. Imtiaz A. Kazi (left) delivered a letter of thanks from Pakistan’s prime minister Shehbaz Sharif to Asian Development Bank president Masatsugu Asakawa (right) for the multilateral financial institution’s support of the “Climate Resilient Pakistan International Conference” in Geneva in January 2023. The envoy also thanked the ADB chief for its consistent support in post-flooding rehabilitation and the “vibrant country” program for Pakistan from 2021 to 2025. FB: PAKISTAN EMBASSY PHILIPPINES

BEIJING’S move to increase its defense budget is usual among big economies in boosting their military capabilities.

AMBASSADOR Lillibeth Pono PNA

Coach Ana pulls off master stroke as Adamson U goes 1-0 over UP

By Eddie Alinea

ADAMSON University

edged University of the Philippines

(UP), 2-1, in Game

1 of the University Athletic Association of the Philippines softball finals that was decided at the bottom seventh inning and with Lady Falcons head coach Ana Santiago pulling out a masterful play from his deep arsenal of strategies.

But Santiago, the most successful coach in the UAAP with 14 titles all with Adamson University, downplayed her master stroke she pulled off right on the Lady Maroons’ turf in Diliman.

I see no brilliancy in what we did,” Santiago said. “In all sports, there are privileges that are there to make the team win … and we availed ourselves of those—at the right time and circumstances.”

P recisely at the right time and circumstances as the battle between the UAAP softball titans of today didn’t give each other an inch in the opener of the race-to-two series, much in the same manner as they did in the regular season.

Tied 1-1 with UP shut down at the top of the seventh and last inning when those circumstance came the Lady Falcons’ way.

A laiza Talisik reached first base after getting hit on the leg by eventual loser Kacelyn Valino from the mound.

That’s where Santiago inserted Madelene Domaug as pinch runner.

With 21-year-old Ilongo rookie Mae Langga at bat, Domaug stole second during Valino’s third pitch tearing down UP’s defense in the process.

A d isoriented play in that stolen base saw UP catcher throwing to ball high to second base, giving Domaug an opportunity to steal third.

Then Langga drilled a line drive single to shallow center field for the walk off and the Adamson University victory.

It was instinct,” said Santiago, whose Lady Falcons go for the crown in Game 2 at 2:30p.m. on Saturday also at the UP field.

Francis “Kiko” Diaz, UP’s representative to the UAAP board, praised Santiago’s amazing job at the dugout.

She really lifted the Lady Falcons to that win,” said Diaz, UP Dean of the College of Human Kinetics. “They’re good, really good, with nearly half a dozen of them Blu Girls.”

A damson University is eyeing a 19th championship, two short of Far Eastern University’s league record 21. A Game 3, if necessary, will be played Tuesday.

Sports

B8 | Thursday, March 16, 2023

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

ABABA UP; MIÑOZA, ENGINO SHARE LEAD

PHOTOS BY NONIE REYES

SARAH ABABA churned out a near-impeccable one-under 69 round in tough conditions for a huge four-stroke cushion over Chanelle Avaricio and two others at the start of the International Container Terminal Services Inc. (ICTSI) Negros

Occidental Golf Classic presented by MORE Power on Wednesday. That she hit all the fairways and greens spoke well of the preparations and mindset of the player who last won on the Ladies Philippine Golf Tour (LPGT) at Sherwood Hills in 2015 and the shotmaker from the talented golfing clan from Davao could be on her way to ending the long spell with a sustained charge in the next two days.

I think I hit all the fairways and also 14 greens,” said Ababa, whose superb round netted her birdies on Nos. 2 and 14 against a bogey on the 11th for the lone under-par card in the day of floundering fortunes.

I’ll just stay patient. The greens are hard to read, you need to match

the speed and allowance,” added Ababa, who honed and sharpened her skills for the resumption of the circuit at South Pacific Golf and Leisure Club in Davao and at Orchard Golf and Country Club in Cavite.

Avaricio, winner of three LPGT legs last year who also toughened up in the US and Thailand tours, kept Ababa within sight in a separate flight but double-bogeyed the par-four 17th and finished with a 73, enabling Harmie Constantino and Danielly Uy to tie her at second.

Constantino, who foiled Avaricio’s back-to-back title bid at Pradera Verde then won the inaugural ICTSI Match Play Invitational at Villamor late last year, also preserved a one-over card after 15 holes. But like Avaricio, she wavered at the finish, bogeying Nos. 16 and 18 for a similar 36-37 card, while Uy, who scored a breakthrough in wicked conditions at Riviera-Langer in 2021, birdied the 16th but holed out with a bogey for a 73.

Mostly, everything was tough— wind and the greens—and had unlucky bounces on the fairways,” said Avaricio, who nevertheless remained upbeat of her chances with 36 holes remaining in the P875,000

event organized by Pilipinas Golf Tournaments Inc.

I’ll try to keep my drives on the fairway and my iron shots just around the green for easy up-and-down tomorrow (Thursday),” she added.

Despite her flawed finish on the par-5 18th, Uy said: “My round today is better than I expected because the course is narrow and playing long. But I hope to hit the fairways and make a lot of putts tomorrow (Thursday) and just be calm and try not to be too excited.”

Top amateur Rianne Malixi, meanwhile, groped for form in her first foray at Marapara, going fourover after three holes and spending the rest of the day trying to regain the form that netted her LPGT victories at Luisita, Valley and Riviera last year. She wound up with a 78.

My challenge was I couldn’t execute the shots that I wanted to hit and I missed spots that I was not supposed to miss. Those gave me a hard time to recover and kind of like scramble for par,” rued the 16-yearold ace, who placed fourth in the Queen Sirikit Cup at Southwoods and tied for 13th finish in the Women’s Amateur Asia-Pacific Championship in Singapore the last two weeks.

Engino, Miñoza joint leaders with 68s

OBSCURE Albin Engino and legend Frankie Miñoza took different routes but produced the same results as they matched two-under 68s in varying fashions to seize control at the start of the International Container Terminal Services Inc. (ICTSI) Negros Occidental Golf Classic presented by MORE Power in Bacolod City Wednesday.

Engino, still in search of a breakthrough win in a long pro career, birdied two of the last four holes in a big frontside finish to save a 35-33, while Miñoza fumbled with a bogey No. 16 from the bunker in a late mishap that spoiled what could’ve been an explosive start for the multi-titled campaigner who posted his last victory here in 2016.

He signed for a 32-36 card that still netted him a shared view of the top with Engino, one stroke ahead of an equally hot-finishing Ira Alido and gutsy Korean rookie pro Hyun

BATANGAS City Embassy Chill is back in action in the Maharlika Pilipinas Basketball League (MPBL) with head coach Cholo Villanueva leaving no room for complacency despite the team reaching the southern division finals last year.

The new season, Villanueva stressed, is a totally different ballgame.

We start from the ground up. It’s back to zero, the former Green Archer said. “It doesn’t mean that because we were in the division finals last year, we’re guaranteed to be in it again this year.”

V illanueva said he wanted

intensify fan adulation for this volleyball icon. Jaja Santiago, Dindin Santiago-Manabat, Rachel Daquis, Fille Cainglet-Cayetano and Aby Maraño shared the women’s volleyball pantheon with Alyssa, making volleyball the next most popular Philippine sport to basketball.

By Josef Ramos

EXPECT a Justin Brownleeenforced team as the Philippines sets out to regain the gold medal it lost to Indonesia last year in Vietnam in the Cambodia 31st Southeast Asian Games in May. We have to redeem ourselves, and we’re eager to do that,” Samahang Basketbol ng Pilipinas president Al Panlilio told BusinessMirror on Wednesday.

Panlilio said national team head coach Chot Reyes will form the team at the end of the month—time enough to prepare for the basketball competitions set May 9 to 16 in Phnom Penh.

And naturalized player Brownlee could be part of that team.

“Passport only,” said Philippine Olympic Committee president Rep. Abraham “Bambol” Tolentino, referring to the basic requirement for an athlete to play for a particular country in the SEA Games. The SEA Games are unlike the International Basketball Federation or FIBA tournaments where players must have secured passports from the country they intended to play for before the age of 16.

A mong the Philippine passport holders who are actively playing in the Philippine Basketball Association but are ineligible to play in FIBA tournaments are Stanley Pringle, Christian Standhardinger and Chris Newsome.

The Philippines owns 18 men’s basketball gold medals and three silvers— the first two after losses to Malaysia in 1979 and 1989— and the most recent in May last year to Indonesia, 85-81.

Volleyball supernovas

ALYSSA VALDEZ almost singlehandedly brought women’s volleyball to the forefront of the national consciousness with her superb mastery of the game and her smashing achievements.

The top high school player from the University of Santo Tomas crossed over to Ateneo de Manila to play college volleyball and made the Blue and White the most popular collegiate women’s volleyball team for years and years.  Her transition into the pro league only served to

A younger batch of volleyball Wonder Women quickly continued the fascination with women’s volleyball. Mika Reyes, Ira Galang, Kim Fajardo, Kim Keanna Dy, Dawn Macandili, Majoy Baron, Isa Molde, Tots Carlos, Sisi Rondina, EJ Laure, Bernadette Pons, Remy Palma, Buding Duremdes, Jema Galanza, Thang Ponce, Kath Arado, Shaya Adorador, Jhoanna Maraguinot, Gia Morado-De Guzman, Bea De Leon, Deanna Wong, Maddie Madayag, Risa Sato, Jasmine Nabor, Myla Pablo, Aiko Urdas, among others, made women’s volleyball a must-watch event and TV spectacle.

W hat makes this female-dominated sport so astounding is that it has its own set of live fans and a social media following even more rabid that goes even more viral than basketball fans.

W hy the sport‘s following cuts across demographics and extends beyond the walls of the schools to include nonstudents, non-alumni and other school-affiliated personnel is food for thought indeed. The good news is that volleyball talent, just like basketball’s, seems to be never ending. There are more

Ho Rho as majority of the stellar field struggled in the heat and wind around the short but tricky par-70 Marapara layout and ended up with soaring scores.

I didn’t expect to go under. I just played it shot-by-shot and hole-byhole. But it came out okay, so I’m so happy,” said Miñoza, whose mere presence in the tour crowded by young, long hitters continues to be a troubling sight for the rest of the bidders.

He tied for eighth in last month’s The Country Club Invitational.

I’m just enjoying the game. The winds are strong and the greens vary—some are slow, others are fast,” said Miñoza, who beat Miguel Tabuena in sudden death here seven years ago for his last title win on the Philippine Golf Tour (PGT).

Engino likewise used a conservative approach to break a two-birdie, two-bogey card after 14 holes, birdying No. 6 then holing out

with another feat on the ninth to join Miñoza at the helm.

I played it safe and short throughout and made the most of my birdie chances,” said Engino, who wound up tied at 17th at TCC.

A mix of aces and lesser lights stayed in early contention with Ferdie Aunzo, Jun Bernis, Reymon Jaraula, Korean Kim Min Seong, Tony Lascuña, Gerald Rosales, Nilo Salahog and Rupert Zaragosa all matching par 70s for joint fifth, and Jhonnel Ababa, Mars Pucay, Bonifacio Salahog and Dino Villanueva carding identical 71s.

But things loom to get wilder in the next three rounds of the Pilipinas Golf Tournaments, Inc.-organized circuit with Alido and Rho just behind by one after the former birdied the last two holes at the back for a 69 and the latter holding his ground against Van der Valk and fellow rookie Kristoffer Arevalo with a superb frontside spiked by a three-birdie string from No. 7.

JUSTIN BROWNLEE could again don the country’s colors in Cambodia.

Batangas-Embassy Chill aims high in MPBL

the team to develop keeping its composure down the stretch— especially when they lead by a big margin.  “ Knowing how to execute and finish the game strong are things we need to improve on this year,” Villanueva said.  He also wants the team to have a quicker pace and, at the same time, continue with its defensive identity of limiting bigger opponents.  The team kept its core of Rudy

Lingganay, Jeckster Apinan, Cedrick Ablaza, John Rey Villanueva, and King Importante.

After last year’s performance, we assessed the needs of the team and we added another guard, CJ Isit, who can help with our guard rotation,” team manager Jean Alabanza said.

“We also added two versatile forwards Oneal Arum and Raffy Oktubre.”

Team Manager and Tanduay Distillery General Manager Gerry Tee, meanwhile, said that they are

Alyssas in the making as we speak. New Super Girls of the sport are currently making waves in the collegiate leagues and should be the next stars to captivate the hearts and minds of sports fans of all ages.

It is volleyball season in the University Athletic Association (UAAP) and the Philippine National Collegiate Athletic Association (NCAA). Volleyball supernovas are already in full display in the tournaments, ensuring the continued flow of talent and stars to admire for a long time to come.

Since I am more exposed to the UAAP, I can mention only for now the amazing athletes who make eyes pop and hearts beat faster in UAAP women’s volleyball.

First on my list is De La Salle rookie Angel Canino from Bacolod who has wowed the UAAP crowd from Day 1. Already accomplished as a high schooler—both in Tay Tung High School and De La Salle Zobel—she owns an MVP title, several awards as Best Outside Hitter, Best Outside Spiker and has played twice for the national team in the under-23 division. Her constant smile and aura of calmness are wickedly deceiving. When she unleashes her powerful whacks and arches her body in mid-air to deliver the deadly blows, she has a close to perfect kill-rate. Even her service style is worth watching; it’s a beautiful dance move. She dribbles the ball low, then holds it out front with her left hand. She executes a fan-like hand gesture with her right, then pauses

fortunate to have the unwavering support of Batangas City Rep. Mario Vittorio “Marvey” Mariño and Mayor Beverley Rose Dimacuha since they started in the league in 2018, when they emerged as champions.  “ They share the same passion and commitment to grassroots sports development with Sir Lucio Tan,Jr.,” Tee said.

The late Tan is known for being a patron of sports development, particularly basketball.

for a second with that hand poised like a cobra ready to strike. Finally she serves and the ball journeys to the other side. It is a work of art.

Th is early, people and media are calling her the next Alyssa Valdez. She has been described as “young, talented and fearless,” nakakakilabot (fearsome) and a “super rookie.” She may be one of the big reasons why the De La Salle Lady Spikers are 5-0 in the standings. But of course, she is surrounded by teammates who are just as skilled and impressive.

If La Salle goes on to the Final Four and eventually the Finals, blame it on its strong, well-balanced line-up. Jolina De La Cruz, Mars Alba, Fifi Sharma, Leila Cruz, Thea Gagate and teammates are coloring UAAP Volleyball green this season. But wait, there’s more. Bela Belen, Cess Robles, Alyssa Solomon and Jen Nierva of National University, Faith Nisperos and Vanie Gandler of Ateneo De Manila University, Eya Laure and Aimee Hernandez of the University of Santo Tomas, Chenie Tagaod and Jovelyn Fernandez of Far Eastern University, Trisha Tubu and Louie Romero of Adamson University, Ja Lana and KC Cepada of the University of the East and Niña Ytang and Steph Bustrillo of the University of the Philippines. These are twinkling stars and supernovas to look out for in women’s volleyball. They’re definitely ready to serve!

THE Lady Falcons whoop it up after scoring a close 2-1 seven-inning victory in Game 1 of the finals.

SARAH ABABA has a huge four-shot lead as Frankie Miñoza and Albin Engino take different routes but produce the same results.