BusinessMirror March 24, 2023

By Cai U. Ordinario @caiordinario

WITH commodity prices still high, the Bangko Sentral ng Pilipinas (BSP) decided to continue raising interest rates in its meeting on Thursday.

The Monetary Board raised the BSP’s overnight reverse repurchase facility by 25 basis points (bps) to 6.25 percent, effective Friday, March 24, 2023.

The BSP said with this, the interest rates on the overnight deposit and lending facilities will be set to 5.75 percent and 6.75 percent, respectively.

“The Monetary Board’s decision was based on the sum of new information and its assessment of the effects of past policy actions, which warranted a continuation of monetary tightening to anchor inflation expectations,” the BSP said in a statement.

“With core inflation rising in February despite a modest decline in headline inflation, further monetary policy action was deemed necessary to address broadening price impulses emanating from robust domestic demand and lingering supply-side constraints,” it added.

By Samuel P. Medenilla @sam_medenilla

THE government is now eyeing the completion of 90 active investments leads from Chinese companies to generate more business activities in the country.

Gracing the 33rd Biennial Convention of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) in Pasay City on Thursday, President Ferdinand R. Marcos Jr. said the Board of Investments (BOI) is now closely monitoring progress on the deals.

“I am pleased to share that as

WHILE the average recruitment costs remain low in the Philippines, prospective Overseas Filipino Workers (OFWs) still resort to loans from family and friends as well as pawning assets in order to move, according to the World Bank.

In its recent report, the World Bank said the recruitment costs for Qatar-bound OFWs were on average about $483. This is only equivalent to 1.1 month’s salary and is considered one of the lowest cost corridors in the region.

However, family support still accounts for 40 percent of the recruitment cost; personal funds, including savings and salaries, 25 percent; employer support, 23 percent; and borrowing from friends and family, 18 percent.

“The share of migrants’ borrowing via formal sources such as banks is below 3 percent. A similarly small share [3 percent] reported pawning or selling their assets to finance their move abroad,” the report stated.

“The pandemic has further brought to the spotlight the is -

sue of recruitment costs as migration costs due to limited flights, quarantines, and repatriation increased while workers experienced job loss and reduced wages,” it added.

The data also showed women migrant workers are more likely to sell or pawn their assets and depend on family support to obtain the needed financing to cover recruitment costs.

The World Bank data also showed that male OFWs, meanwhile, were more likely to resort to loans from family and friends

as well as obtain formal loans such as through banks.

However, in terms of benefits, male OFWs are more likely to receive health insurance or medical allowance from their employers; get paid for overtime work; and be compensated for work-related accidents.

Male OFWs are also more likely to receive paid leave or vacation leave; get separation pay; paid sick leave; and get retirement pension.

See “OFWs,” A2

THE Bureau of Customs (BOC) has filed three criminal complaints before the Department of Justice (DOJ) against alleged sugar importers.

The first criminal complaint is against an importer and a customs broker for illegally importing 13 containers of refined sugar at the Manila International Container Port.

The other two criminal complaints were filed against another importer and their customs broker because of the alleged illegal importation of 58 containers of refined sugar at the Port of Subic.

The respondents are facing numerous counts of violation of Section 1401 in relation to Sections 1400 and 117 of the CMTA, SRA-BOC Joint Memorandum 4-2002, and Sections 3 and 4 of

of February 2023, the BOI, the Board of Investments is monitoring 90 active investment leads from Chinese companies engaged in manufacturing, information technology, business process management, and renewable energy,” Marcos said his speech.

The Presidential Communications Office (PCO) noted the country secured the said investment leads following Marcos's visit to China in January with the help of the FFCCCII.

The President urged FFCCCII members to take advantage of the pending investment deals to further expand their businesses.

“May you all take hold of and

maximize these prospects as you venture into your next endeavors for the benefit of our people and for our communities,” Marcos said.

He said his administration has already addressed the concerns of FFCCCII, which includes ensuring the country will have “sufficient power supply and lower electricity costs.”

To streamline the “documentary, legal, bureaucratic requirements” of FFCCCII and other potential investors, the President said the government will set up “green lanes” in every department.

“As President, it is my duty to create an enabling environment

for businesses and make the Philippines a preferred investment destination for everyone,” Marcos said.

“In return, I only ask that you continue to do what you do best: to remain industrious, innovative, and compassionate in improving the lives of our people through your business initiatives,” he added.

The FFCCCII is a non-stock, non-profit corporation composed of 170 member chambers and trade associations across the country.

It is currently holding its Biennial Convention from March 23 to 26, 2023.

jaine Sta. ana and Fa ma ana beatrice alvarez. Upon arrival in guam, Pr110 was welcomed by a water salute organized by Pal g uam and the g uam airport authority. PHOTO BY PHILIPPINE AIRLINES

ICC appeals court lets drug war victims’ kin comment on case

By Joel R. San Juan @jrsanjuan1573

Public Counsel for Victims (OPCV) to submit written observations on the government’s appeal brief in relation to the general interests of victims by April 18, 2023.

“The appeals Chamber considers it appropriate for victims to be involved in these appeal proceedings,” the decision read.

On the other hand, the Appeals Chamber granted the request of the Philippine government to be notified of public and confidential filings before the chamber, except filings that are considered confidential ex parte.

Sought for his comment on the ICC-Appeals Chamber decision, government chief counsel, Solicitor General Menardo Guevarra said: “For as long as the state will be given a fair opportunity to respond to the victims’ submissions during the appeals stage, the OSG will not make any further comment on their involvement.”

However, Guevarra pointed out that the government had not been given a chance to see the complaints of the alleged victims or an opportunity to address the same.

“We do not know who the 90 anonymous victim applicants are and where they are coming from,” Guevarra said.

Continued from A1

During the briefing, BSP Governor Felipe M. Medalla said while the US Federal Reserve also decided to raise interest rates by 25 bps on Wednesday, this did not factor in the decision of the MB.

the BSP, think tank Oxford e co nomics still expects monetary authorities to raise interest rates by another 25 bps at the next MB meeting in May 2023.

In an 11-page decision, the ICCAppeals Chamber granted the application to present victims’ views and concerns in connection with the Philippine government’s bid to overturn the order issued by the ICC-Pre-Trial Chamber to resume the investigation into the thousands of killings during the Duterte

OFWs…

Continued from A1

anti-illegal drug war campaign.

Thus, the Appeals Chamber directed the Victims Participation and Reparation Section “collect and transmit” representations from any interested victims or groups representing the victims and submit a report until May 22, 2023.

It also allowed the Office of the

Female OFWs, meanwhile, are more likely to receive housing or lodging benefits as well as rice or food allowance or other consumer goods.

“There is a huge gender differ -

“The appeals chamber is not persuaded that all filings concerning victims should be notified to the Philippines…Therefore, to the extent that the Philippines seeks to gain access to identifying information about victims, the Appeals Chamber notes that it would not be appropriate to grant the request in this regard,” the decision stated.

ence in accessing various types of benefits,” the World Bank said.

“Three-fourths of the men reported receiving overtime compensations whereas only 29 percent of women reported the same. Women were

The Philippine government earlier asked the Appeals Chamber to reverse 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.

In an appeals brief submitted last March 13, Guevarra maintained that the ICC has lost jurisdiction over the country following the withdrawal of its membership in 2019 upon the directive of Duterte.

also far less likely to have access to health and medical insurance, compensation for work accidents, paid leaves and sick leaves, and separation pay.”

The World Bank said this is possible given that many female OFWs are domestic workers and are live-in helpers. They are also not compensated for overtime work.

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

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 (US), 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. Cai U. Ordinario

BOC…

Continued from A1

the Anti-Agricultural Smuggling Act of 2016.

For the first three months this year, the customs bureau has already filed 45 agri-related criminal complaints against importers and customs brokers involved in alleged smuggling and customs fraud.

“Our continuous filing of criminal complaints against perpetrators of illegal importation manifests our commitment to end smuggling,” BOC Commissioner Bienvenido Rubio said.

“We will continue to strengthen our border control measures and file cases against violators of Customs laws to ensure compliance among stakeholders,” he added.

Moreover, Malacañang has approved a recommendation to sell confiscated smuggled sugar at P70 per kilo in Kadiwa stores.

Sugar Regulatory Administration (SRA) board member and planters’ representative Pablo Luis Azcona recently said a total of 12,000 metric tons (MT) of smuggled sweetener can now be sold at Kadiwa outlets.

“At least 8,000 tons of sugar were confiscated in Batangas and recently at least P85 million worth or roughly 4,000 tons of sugar were seized in Subic. Good thing, we got a memo from Malacañang that the apprehended sugar will be donated to the DA [Department of Agriculture] for sale to the public by Kadiwa,” Azcona said.

“Kadiwa has always sold sugar at P70 per kilo, so it will remain at P70 per kilo,” Azcona said, adding that the government targets to bring down the retail price of sugar with the release of imported sweetener in the local market.

SRA administrator David Alba, earlier asked President Ferdinand Marcos Jr. to approve the sale of the confiscated smuggled sugar at Kadiwa stores amid the spike in retail prices of the commodity. Raadee S. Sausa

He added that in the future, the BSP may no longer track the US Federal Reserve’s movements. Medalla said if the Federal Open Market Committee (FOMC) decides to pause on rate hikes, the BSP may not be keen on doing the same based solely on the movement of the US monetary authorities. Medalla said future actions by the Monetary Board will be “data-dependent.” He noted that while the recent headline inflation showed prices slowing, considering the seasonality of prices would show that inflation continued to increase.

Being data-dependent also means that if prices remain high, the MB may raise rates or in the event that there won't be movements on the Consumer Price Index (CPI), that will be the only time the BSP may decide to reverse interest rates.

“It’s easy to talk about when we might pause but when we'll start reversing, that will require quite a bit of data. Now, what will cause us to reverse? In an extreme case, the price index does not change from now until say July or August,” Medalla said during the briefing.

“So not only is inflation going down, the prices are not going up. Then in that case, we might consider reversing. But that is a very unlikely scenario,” he added.

During the briefing, BSP Deputy Governor Francisco Dakila Jr. said the BSP's baseline inflation forecast is now 6 percent for 2023. This is slightly lower than the initial estimate of 6.1 percent.

For 2024, Dakila said the BSP's inflation baseline was also reduced to 2.9 percent from the initial baseline of 3.1 percent.

With lower inflation expectations, the BSP said, its nowcast for economic growth is at 7 percent this year. However, its full-year forecast remains at 6.5 percent.

The optimism stems from expectations that the 25-bps rate hike on Thursday would only affect full-year GDP by 2 bps. This is as of March 2023.

“Anchoring inflation is our highest priority,” Medalla said.

Oxford Economics, RCBC

De S PIT e t he lower in -

flation estimates from

“We expect the BSP to raise the policy rate again by 25bps at its May meeting, before holding the rate at that level throughout the year,” Oxford e con omics said in a statement.

“We look for inflation to trend down barring another supply shock, which will make the BSP comfortable staying put. However, risk of further/ bigger hikes cannot be ruled out if the peso depreciates a lot given ongoing external pressures,” it added.

Rizal Commercial Banking Corporation (RCBC) Chief e co nomist Michael Ricafort also expects the BSP to raise interest rates by 25 bps or pause rate hikes in May 2023.

The odds of future Fed rate hikes were reduced recently amid stresses in some parts of the US financial markets after US bank failures—Silicon Valley Bank, Signature Bank—that would require more support measures such as less Fed rate hikes, at the very least, Ricafort said.

e a rlier, the BSP said the Philippine banking system and the entire economy can withstand the impact of the blight that recently engulfed some foreign banks.

BSP Governor told reporters on Monday that recent developments such as the collapse of some banks in the United States as well as the recent acquisition of Credit Suisse Group (CSG) AG by UBS Group AG through a “government-brokered deal” will not have an impact on the global economy, including the Philippines.

Medalla said the BSP will closely monitor these developments as well as “assess their impact on the banking system and respond accordingly.”

In a note, the BSP chief assured the President that the banking sector can “withstand possible shocks” that could emanate from the collapse of Silicon Valley Bank (SVB) and Signature Bank. Medalla also said losses of Philippine banks from rising interest rates are smaller relative to their counterparts in the United States.

He noted that the interest rate hikes of the US Federal Reserve were larger. The US Fed, as of Wednesday, has already raised key policy interest rates by 475 bps.

THE International Criminal Court-Appeals Chamber has allowed families of the victims of the bloody war against illegal drugs to comment on the case of crimes against humanity filed against former President Rodrigo Duterte and several others.

By Jovee Marie N. Dela Cruz  @joveemarie

APPROVAL ratings of the Vice President, Senate President, House Speaker and Chief Justice remained stable, while the President’s ratings dropped, a recent survey showed.

Pahayag First Quarter survey released to the public Wednesday said Vice President Sara Duterte-Carpio’s approval ratings remain stable, while President Bongbong Marcos Jr. ratings declined.

T he Pahayag 2023 First Quarter poll, which was held between March 2 and 6, 2023, showed that President Ferdinand Marcos Jr.’s performance as Chief Executive recorded a 60 percent approval rating, down from 64 percent in the corresponding quarter last year.

T he President’s trust ratings remain stable to 57 percent. Meanwhile, VP Sara Duterte-Carpio registered a 67 percent approval rating and a 63 percent trust rating.

I n Congress, Senate President Juan Miguel Zubiri continues to have a steady approval rating of 47 percent and 38 percent trust rating, while House Speaker Ferdinand Martin Romualdez had a stable approval rating of 42 percent and a 33 percent trust rating.

Meanwhile, Chief Justice Alexander Gesmundo’s approval (39 percent) and trust (32 percent) ratings remain steady.

Govt agencies

THE Technical Education and Skills Development Authority (Tesda) continues to receive the highest approval rating with 73 percent, followed by the Armed Forces of the Philippines (AFP) with 69 percent and the Department of Tourism with 68 percent.

T he Bangko Sentral ng Pilipinas (BSP) with approval rating 67 percent, the Department of Science and Technology (DOST) with 66 percent, Department of Education (DepEd) with 65 percent, the Department of Social Welfare and Development (DSWD) with 64 percent, and the Commission on Higher Education (CHED) with 63 percent.

Meanwhile, Tesda is the “most trustworthy” institution with a 61 percent trust rating, followed by AFP at 60 percent. BSP at 55 percent, DepEd at 54 percent, DOST at 53 percent, DOT at 52 percent, and DSWD at 51 percent.

Pahayag is a CSR program of Publicus Asia Inc. It is an independent and non-commissioned national survey of 1,500 registered Filipino voters randomly sampled by PureSpectrum, a US-based panel marketplace with multinational presence, from its national panel of more than 200,000 Filipinos. The sample-wide margin of error is +/- 3 percent.

The Nation

New Palace MC further tightens info access to details of terrorism probes

By Samuel P. Medenilla @sam_medenilla

RECORDS of surveillance of suspects as well as record -

ings of communications acquired pursuant to the Anti-Terrorism Act of 2020 are now included in the list of exemption from the right to access information from the Executive department.

E xecutive Secretary Lucas P. Bersamin recently issued Memorandum Circular (MC) No. 15, expanding the inventory of exceptions to Executive Order (EO) No. 2 (series

of 2016), which was issued by former President Rodrigo R. Duterte to provide greater transparency in the Executive department.

B ersamin noted the InterAgency Freedom of Information Exceptions Policy Committee (IAFOI-EPC), through its resolutions No. 2021-002 and the 2022-001, recommended the updated list.

A mong the salient changes in the provisions of MC 15 are information related to the Anti-Terrorism Act.

I t also banned the processing of requests for information in connection with investigations

conducted by the now defunct Presidential Anti-Corruption Commission (PACC).  President Ferdinand R. Marcos Jr. abolished PACC last July as part of his administration’s efforts to streamline government operations.

O ther new inclusions to the list of exemptions are records of cases and documents involving actions for support, including petitions of recognition and enforcement of foreign decisions or judgment of support; cases of gender-based streets and public spaces sexual harassment, including information

on the victim and the accused who is a minor; and the children in situation of armed conflict.

T he Executive department will also not entertain request for information of registered persons with the Philippine Identification System; investigation proceedings and records during the preliminary investigation in administrative cases in the civil services; information on a bank inquiry orders issued by the Court of Appeals, including its contents and its receipt; and failure to comply with regulations on access of records

imposed by the records custodian.    Bersamin instructed the new list under MC 15 to be disseminated to all government offices and instrumentalities and the general public for its implementation.  The foregoing list of exceptions shall be without prejudice to existing laws, jurisprudence, rules or regulations authorizing the disclosure of the excepted information upon satisfaction of certain conditions in certain cases, such as the consent of the concerned party or as may be ordered by the courts,” Bersamin said.

Marina finally issues CDOs vs MT Princess Empress owner

By Joel R. San Juan @jrsanjuan1573 & Jonathan L. Mayuga   @jonlmayuga

THE  Maritime Industry Authority (Marina) disclosed on Thursday that cease and desist orders (CDOs) have been issued against the company that owns  the sunken MT Princess Empress, which had caused a massive oil spill  in Oriental Mindoro and its environs.

Marina Administrator Hernani

Fabia said a CDO was issued  for the cancellation of RDC Reield Marine Services’ certificate of public convenience (CPC) and another CDO enjoining the operations of its remaining vessels.

T he ill-fated tanker was carrying 900,000 liters of industrial fuels when it sank.

“ We issued two cease and desist orders, one is for purposes of cancellation of franchise or the certificate of public convenience and the other one is to cease and desist in the operations, pending investigation and inspections,” Fabia told reporters in an ambush interview at the Department of Justice (DOJ) after attending the meeting of  inter-agency task force tasked to control the oil destructive spill.

He said the CDOs would remain in force pending the result of its  investigation on the February 28 sinking of the vessel. Justice Secretary Jesus Crispin Remulla earlier said the task force had issued subpoenas to various government agencies, including Marina and Philippine Coast Guard (PCG).

T he documents being sought from the PCG and Marina would determine whether there was negligence on the part of the two agencies that resulted in the latest sea tragedy.

T he DOJ is leading  the case build up for the possible filing of  appropriate civil and criminal charges to be lodged  in connection with the massive environmental consequences following the sinking of the ill-fated vessel.

R emulla earlier vowed there

would be criminal liability for all those involved in the sinking of the oil tanker.

All the details of the oil spill we want to get it too, because we think that there should be liabilities here, there should be criminal liability involved in this case,” Remulla said on Tuesday.

Fabia, however, denied that the agency is among those being investigated for possible negligence that led to the sinking.

“

We were asked for cooperation. We are cooperating in fact because this is a whole-of government-approach,” Fabia said.

He added the filing of charges was discussed during the meeting.  “We are not focused on accusing somebody, we are doing a cleanup, everything is ongoing,” Fabia added.

W hen asked why the agency  did not send a representative during the first meeting of the task force, Fabia said they did not receive any invitation.

Fabia also contradicted Remulla’s initial statements that the MT Princess Empress was a rebuilt scrap.

“It is newly constructed. Not new but newly-constructed,” Fabia explained referring to the sunken vessel.

A sked to explain further, the MARINA chief said new means it already exists.

But this [MT Princess Empress] is newly constructed, new from scratch,” Fabia pointed out.

“Based on our records, this is new construction. We will submit that to the National Bureau of Investigation,” he added.

T he DOJ earlier directed  the NBI to probe the liability of the ship owner and others involved in the sinking.        ‘Improved weather’

AS the Philippine government races against time to contain what’s left of the industrial oil from the sunken MT Princess Empress, scientists from the University of the Philippines-Diliman Marine Science Institute (UPD-CS MSI) have noted a “window of opportunity” to step up efforts to clean up the oil spill from the ill-fated vessel.

“ Weaker winds and calmer seas allow for larger oil slicks to form because of less disturbance from waves,” the researchers noted in their latest update.

Satellite data from the US National Oceanographic and Atmospheric Administration (NOAA) as of March 21 showed that the floating oil had accumulated into a 37.84-squarekilometer slick—“larger than Las Piñas,” the scientists noted.

T he accumulated oil, along with the improved weather, maybe a boon to cleanup efforts. “Calmer seas and larger slicks should be taken as an opportunity to collect the oil in slicks near the sunken tanker using booms and skimmers and ramp up cleanup efforts to prevent the oil from spreading further,” the UPD-CS MSI said.

T he researchers also warned that with the seasonal weakening of the Amihan Northeast Monsoon, the subsequent strengthening of easterly winds may push the oil further westward through the Verde Island Passage (VIP), one of the most bio diverse regions in the world and home to thousands of unique species.

With some of the highest concentrations of coastal fishes, corals, crustaceans, mollusks, seagrasses, and mangroves worldwide, VIP is the main source of food and livelihood for millions of Filipinos.

‘No immediate solution in sight’

UNFORTUNATELY, no immediate solution is in sight to contain the thick black oil being released by the sunken vessel as oil spill responders, led by the PCG, are still weighing their options.

Based on the videos and photographs produced by the remotely operated vehicle (ROV) Hakuyo, the tanker that sank off Naujan, Occidental Mindoro, last February 28 continues to spill oil from its cargo.  Authorities have no idea how much oil was left to salvage but there are a total of 23 holes that need to be plugged to stop oil from seeping out of the vessel.

At a depth of close to 1,000 me -

ters, Oriental Mindoro Governor Humerlito Dolor told reporters during an online news conference that it is not possible for divers to reach the vessel to plug the leaks.

T he ROV, on the other hand, is not equipped with the necessary accessory to plug or bag the oil and salvage it and prevent further environmental damage.  The special bags, he said, will have to be imported and one of the closest sources of the bags specially designed for bagging oil from under the water is in Singapore. Likewise, he told reporters that an accessory to the ROV Hakuyo will be shipped along with the bag to attempt oil-bagging or if possible, plugging the leaks.

But it will not happen in the immediate term as operators of the ROV may need to ensure the compatibility of the bag to the accessory of the ROV that would be attached to make it work as proposed by the team composed of Japanese experts, PCG and consultants hired by the owner of the vessel to address the problem.

A robotic arm would have to be attached to the ROV or another ROV with the capability may have to be flown to Mindoro, along with the specialized bag for the oil to make it happen.

Dolor said in the meantime, the decision is to contain the oil from ground zero, while waiting for the ROV with the capacity to bag the oil, or plug the leaks, to contain it.

Dolor also said floating the sunken vessel is not an option because there is a risk that the process will break the vessel which has shown signs of physical damage due to water pressure and strong currents nearly four weeks after its sinking.

Incident Management Team in Oriental Mindoro commander, Coast Guard Commodore Geronimo Tuvilla said the cleanup operation will be intensified in affected areas and more oil spill booms will have to be readied to prevent the oil from affecting VIP.

So far, the oil spill has affected nine towns in Oriental Mindoro, two towns in Palawan, and one in Antique Province. In Pola, Oriental Mindoro alone, around eight

hectares of mangroves have been affected by the oil spill. There are over 20 marine protected areas in Oriental Mindoro that are at risk.

In the last several days, scientists at UP-CS MSI said the oil has already reached Calapan, Oriental Mindoro, and is making its way into the vast water body called Verde Island Passage, the center of the world’s shorefish biodiversity and one of the most economically productive marine ecosystems in the world.

‘Oil spill could have been avoided’

THE Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) blamed the concerned government agencies that allowed he vessel to sail.

The group said the Mindoro oil spill could’ve been avoided if only these concerned government agencies strictly enforced the maritime protocols based on the vessel’s seaworthiness.

Pamalakaya noted that the Maritime Industry Authority (Marina) insists that it did not issue an amendment to the certificate of public convenience (CPC) to the owner of the MT Princess Empress to include the sunken tanker in its fleet.

It is clear that the oil spill that ravaged many coastal towns and waters could have been avoided had the concerned authorities been strict in enforcing its rules. It is therefore only right to hold the owner of the vessel and concerned government agencies that have been remised of its duties by allowing MT Princess Empress to sail,” the group said.

According to Pamalakaya national chairman Fernando Hicap, in the last three weeks, over 18,000 fishermen were affected by the oil spill.

We are calling for immediate action from the government by providing economic support to the fishermen affected by the spill.  More importantly, the government should ensure to hold those behind the oil spill accountable to prevent this from happening again in the future,” Hicap, a former partylist lawmaker and a fisherman based in Rosario, Cavite said.

DENR chief pitches call for global water sector resilience agenda at UN summit

THE Philippines is ready to commit to a global water sector resilience agenda that ensures a reliable and equitable access to safe water sanitation, improved health, and gender equality.

T his was affirmed by no less than the country’s chief steward of the environment and natural resources, Department of Environment and Natural Resources (DENR) Secretary Maria Antonia Yulo-Loyzaga in a speech delivered during the ongoing United Nations 2023 Water Conference happening in New York from March 22 to 24.

According to Yulo-Loyzaga, such commitment requires the country to address not only the physical risks through engineering solutions but the ecological socioeconomic, and governance challenges we face as

well, pitching that the UN water agenda prioritizes climate resilience through robust, equitable, and sustainable nature positive development pathways.

Yulo-Loyzaga further called for deeper integration of the water agenda into key agreements such as the Sustainable Development Goals, the UN Framework Convention on Climate Change, the Convention on Biodiversity, and the Sendai framework for disaster risk reduction. S he said such would render the water sector a globally important entry point to scaling up commitments to adaptation financing for reliable and safe water supply, management, and use.

“ The Philippines commits to foster knowledge, innovation and just partnerships in watching

governance, access to science and form equitable and sustainable financing and engagements with the private sector academia, multilateral development banks and other stakeholders in climate action are being strengthened while recognizing the vital importance of traditional and local knowledge,” she said.

Meanwhile, the official said the Philippines is further advocating the transfer of knowledge through science, technology, engineering, and innovation that addresses the water needs of developing countries while advancing global goals.

Increased support

“IN this light, we endorse increasing support for the Global Water operator program, which addresses the

vulnerabilities and capacity-building needs of water and water sanitation service providers, especially in Asia, Pacific, and Africa,” she said.

The water sector has the opportunity to lead change and deliver transformative solutions in our quest for climate resilient and sustainable development. Let us all unleash the potential for this today to ensure that no person, no community, no ecosystem is left behind,” she said.

In her speech, the DENR chief said attaining universal, adequate and equitable access to safely managed water and sanitation services are at the core of inclusive and sustainable development.

Yulo-Loyzaga said integrated water resource management approaches that overcome barriers to water

and sanitation access and improved health “are therefore imperative.”

Moreover, risk-informed and transformative governance that increases access and affordability of safe drinking water and sanitation services must be sustained in order to advance health, livelihoods, and the dignity of all while preserving ecosystem integrity for the benefit of generations to come,” she said.

Climate change disruptions

CLIMATE change has disrupted the world’s hydrological cycle, as extreme rainfall, and temperature changes amplify existing social vulnerabilities and threaten biodiversity.

Yulo-Loyzaga said more than ever, there is now a critical need for nexus governance for climate and disaster

resilience. “One that pursues a strategic balance between supply and consumption of water for health, food, energy, and environmental security,” she added.

According to Yulo-Loyzaga, the Philippines is moving decisively in this direction.

“Our President has directed the creation of a water resource management office other than the Department of Environment and Natural Resources to achieve water security by integrating the functions of all agencies with water-related mandates,” she said.

She said the Water Resource Management Office is a first in the country’s history, and it’s aligned with new legislation creating an apex body for comprehensive water resource management. Jonathan L. Mayuga

Survey shows ‘steady’ approval, trust ratings for PBBM, VP Sara

Vittorio V. Vitug

Pascual rallies Asean peers for ‘robust’ creative economy

By Andrea E. San Juan @andreasanjuan

T he Philippines’s trade chief stressed that the proposed working group will promote the growth and development of creative industries and the “wider culture-based” creative economy, which he said would heighten the region’s identity and rich history.

In fact, he said, the Philippines

is doing the same in line with the recently passed Philippine Creative Industries Development Act (PCIDA). Pascual said such is a “crucial enabling measure” in transforming the country’s creative industry and promoting economic growth.

We in the Philippines intend to make this effort of developing the

creative economy a whole-of-Asean initiative,” Pascual said.

L ast July 2022, citing the Creative Economy Roadmap, Pascual said the Philippines is targeting to become the top creative economy in the Asean region by 2030.

By 2030, the Philippines will be the number one creative economy in Asean in terms of size and value, as well as the competitiveness and attractiveness of our creative talent and content in international markets,” the Roadmap stated. I n response to Pascual’s call for support among Asean leaders, the Department of Trade and Industry (DTI) said the Asean Business Advisory Council “readily expressed support” for the proposal and noted that it would establish a private sector-led counterpart of the Working Group.

T he DTI said in a statement issued on Thursday that the Pascual

DMW extends aid to 30 OFWs, including 2 with injuries after building collapses in Qatar

By Butch Fernandez @butchfBM

DEPARTMENT of Migrant Workers (DMW) Secretary Susan Ople  confirmed Thursday  timely assistance was extended to 30 Overseas Filipino Workers (OFW), including two OFWs who suffered minor injuries, after a 7-story apartment building collapsed Wednesday in Doha, Qatar.

O ple reported the two injured OFWs, whose names are being withheld, suffered bruises and

have been discharged from the Hamad General Hospital. She added that three other OFWs residing in the same apartment building were at work when the incident happened.

T he DMW also extended immediate assistance in the form of food and basic necessities to 30 Filipino nationals, including two minors and a senior, who were residents of an adjoining 3-story building, Ople said, adding that they have been provided temporary shelter at the Qatar Youth Hostel.

In a report to the Secretary, Atty. Don Albert Pangcog, officer-in-charge of the Doha Migrant Workers Office (MWO-Doha) said the MWO is working closely with Philippine Embassy officials, the Doha Office of the Overseas Workers Welfare Administration (DMW-OWWA) and local authorities.

L ocal authorities are still investigating the cause of the incident which occurred at 8:18 a.m. Wednesday (1:18 p.m., Wednesday in Manila) at Doha’s Bin Durham neighborhood.

met with his fellow Asean Economic Ministers (AEM) at the 29th AEM Retreat in Magelang, Indonesia to “endorse” the economic priorities of Asean under Indonesia’s Chairmanship for 2023.

A ccording to the DTI, Pascual was joined by Indonesian Chair, H.E. Sulkifli Hasan; fellow Asean Economic Ministers: H.E. Dr. May Fa’ezah Ahmad Ariffin of Brunei Darussalam; H.E. Pan Sorasak of Cambodia; H.E. Dr. Jerry Sambuaga of Indonesia; H.E. Malaithong Kommasith of Lao PDR; H.E. Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz of Malaysia; H.E. Gan Kim Yong of Singapore;  H.E. Wanchai Varavtihva of Thailand; H.E. Tran Quoc Khanh of Viet Nam; and recently appointed Asean Secretary General Dr. Kao Kim Hourn.

A side from the creative industry, the Philippine trade chief said Asean should leverage its “niches.”

During the same event, Pascual stressed that as Asean is now at the center of the global economy as a “single market and production base,” there is a need to remain “united” in utilizing Asean’s niche in sectors such as manufacturing and the digital economy with the new normal.

Pascual said this could be further carried out once the Asean Trade in Goods Agreement (ATIGA) is upgraded. In line with this, he said the upgraded ATIGA must include “forward-looking” elements to resolve “long-standing” implementation issues.

It is imperative that we keep an open mind on the inclusion of elements or chapters that would meaningfully contribute to the region’s deeper economic integration and stability amidst future challenges or crises,” Pascual said.

Meanwhile, DTI said the economic representatives of Asean states

also welcomed the Philippine Senate’s concurrence with the ratification of the Regional Comprehensive Economic Partnership (RCEP), which is touted as the world’s largest free trade agreement.

A ccording to the DTI, the ministers emphasized the importance of ensuring the “full implementation” of the Agreement. Moreover, the trade deal was referred to as one of the “key mechanisms” to ensure that the region’s connectivity to the global value chain remains resilient against a “changing regional economic architecture.”

A s one of his priorities, Pascual also pitched to the ministers to develop an Asean Digital Economy Framework Agreement (DEFA). He said, “It is important that we maintain this momentum of accelerated growth, and ensure that the digital economy remains to be at the forefront of Asean’s priorities.”

BCDA, JICA ink deal to develop areas around railway stations

THE Bases Conversion and Development Authority (BCDA) announced it has inked an agreement with the Japan International Cooperation Agency (JICA) that will help BCDA develop the areas in and around railway stations being built by the Department of Transportation (DOTr).

A ccording to the BCDA, these sites are located in Fort Bonifacio, and would serve as models of the Philippines’s Transit-Oriented De -

velopments (TODs), as well as “prototypes” of sustainable mixed-use communities with access to highquality train systems.

On March 21, BCDA President and Chief Executive Officer (PCEO)

Aileen R. Zosa and JICA Philippines

Chief Representative Sakamoto Takema signed the Record of Discussions for the Capacity Enhancement for the TOD Project, BCDA said.

T he agency noted the TOD Project aims to maximize the “potential” of two major railway projects passing along BCDA properties in Metro Manila.

T hese railway projects, the BCDA noted, are the P500-billion Metro Manila Subway Project (MMSP) and the P800-billion North-South Commuter Railway (NSCR), which it said are also funded by the Japanese government.

In particular, BCDA said it would lead the development of TODs surrounding four stations of the subway project as these are traversing its properties, which include the Market! Market! mall in Bonifacio Global City (BGC).

Other properties, it noted, are the proposed Senate-Department of Education (DepEd), Kalayaan Avenue, and Lawton Avenue stations.

T he agency underscored the importance of Transit-Oriented De -

velopments, saying these will have economic benefits with the efficient development around the stations.  These TODs will serve as the backbone of the transportation network, effectively connecting to feeder systems, such as jeepneys and buses,” BCDA said.

According to BCDA, its technical cooperation agreement with JICA will “strengthen the capacity of BCDA in planning and implementing the TODs for the subway system.”

A s to the role of BCDA in this agreement, the agency said it is expected to identify “institutional arrangements” as well as develop TOD guidelines for the subway TODs, conceptual plans for the four TOD stations in Fort Bonifacio, and business plans for the TODs near the BGC and the proposed Senate-DepEd stations.

The agency said the conceptual and business plans would be used by BCDA as “critical parameters” in the design of the redevelopment of Market! Market! which stands on the 99,000-squaremeter “super block” in BGC.

T he said redevelopment of the property will improve Market! Market!’s “commercial viability” as well as the quality of urban life of those working and living in Fort Bonifacio and the areas surrounding it, BCDA said. Andrea E. San Juan

TRADE Secretary Alfredo E.

Pascual has proposed to Asean leaders the establishment of the Asean Creative Economy Working Group (ACEWG) to provide and bolster strategies for “capacity building” in the region.

Army showcases diverse roles, defense capabilities in 126th anniversary exhibit

By Rene Acosta @reneacostaBM

THE Philippine Army showcased its various non-traditional roles and its latest defense assets in an exhibit and static display as part of its 126th year anniversary celebration on Wednesday.

Various units, or PAMUs, put up booths to show the Army’s contributions to nation-building such as humanitarian assistance and disaster response, food security, environmental protection, socioeconomic development, local peace engagement and reserve force development.

T hey also placed on display command and control, communications, computer, intelligence, surveillance, target acquisition and reconnaissance (C4ISTAR) system that provide situational awareness and a common operating picture to commanders at all echelons of command.

O n the other hand, the First Scout Ranger Regiment showcased its capabilities in conducting raids, ambuscades, reconnaissance patrols and direct offensive actions, while the Special Forces Regiment (Airborne) highlighted its “triservice” capabilities in airborne operations, riverine operations and ground operations.”

Ground units put on display the Army’s latest defense assets like the Armor Division’s Sabrah light tank;

the Artillery Regiment’s ATMOS 155 self-propelled howitzer, the biggest gun in the Army arsenal today, and the Aviation Regiment’s two Bolkow air ambulances that bolster the Army’s life-saving capabilities for combat-wounded troops.

In his remarks during the anniversary celebration, Army chief Lt. Gen. Romeo Brawner Jr. highlighted the Army’s non-traditional roles in nation building.

Then as now, your Army continues to evolve, always in step with the demands of the times.

From its humble beginnings as a revolutionary organization formed during the secret meetings of the Katipunan to the presentday agile, credible, and modern force provider to the unified commands of our Armed forces, we remain resolute in our dedication to secure the peace and protect our sovereignty,” Brawner said.

President Ferdinand R. Marcos Jr. has ordered the Army to be always prepared as he thanked the organization for its contribution to security.

The Army must always be fully prepared and capable for any contingency, especially considering that you are the country’s last line of defense against any external security threat. Be vigilant against elements that will undermine our hard-earned peace and our hardearned stability,” Marcos said.

South Cotabato tribal leaders laud CA’s ‘pro-mining’ ruling

By Jonathan L. Mayuga @jonlmayuga

ALEADER of the Blaan tribe in South Cotabato on Thursday lauded a judicial ruling setting aside a provincial anti-mining ordinance that prohibits open-pit mining in Tampakan, South Cotabato.

“ We are happy with this stand of the Court of Appeals [CA] on the issue,” Indigenous People’s mandatory representative to the Tampakan Municipal Council Domingo Collado said.

T he CA ruling recognized the validity of the provincial ordinance that bans open-pit mining in any town in the province, but emphasized that it cannot be applied on largescale mining operations allowed by Malacañang, Collado added.

T he ruling will pave the way for the operation of Sagittarius Mines Inc. (SMI), whose copper and gold mining project in South Cotabato has been previously delayed by the open-pit mining ban method enacted by the Province of South Cotabato.

T he ban, which has been in effect

DepEd says skirmishes prompt return to online school learning in Masbate

By Claudeth Mocon-Ciriaco @claudethmc3

THE Department of Education (DepEd) has strongly condemned the “alarming” rate of communist rebel activities in Masbate, prompting affected schools to shift to a week-long modular distance learning (MDL) amid skirmishes between government forces and suspected members of the New People’s Army (NPA) since March 20.

A soldier reportedly died, while two other members of the Philippine Army’s 2nd Infantry Battalion (2IB) were wounded in the still raging between government troopers and rebels, affecting the towns of Placer, Dimasalang, Uson and Cataingan.

T he School Division Office (SDO) Masbate said the affected schools

are located in the towns of Placer and Dimasalang (all elementary and secondary schools); the town of Uson (elementary schools of Eugenio C. Clores Sr., Badling and Miaga); and the municipality of Cataingan (all elementary and secondary schools located at barangays Aguada, Concepcion, Curvada, Domorog, Gahit, Madamba, Malubago, Matayum, Mintac, Pawican, Poblacion, Quezon, San Pedro, Sta. Teresita, Sto. Niño and Tagboan).

Learning continuity

VICE President and Education Secretary Sara Z. Duterte has ordered DepEd Regional Office V and SDO Masbate are tasked to ensure that learning continuity shall take place.

The DepEd Regional Office V and SDO Masbate are tasked to

ensure that learning continuity shall take place. As such, there will be no blanket suspension of classes,” the DepEd said in a statement. It was sent to reporters past midnight Thursday.

T he suspension of in-person classes and immediate shift to blended learning, the DepEd said, shall be left to the discretion of the school heads/principals, after due assessment and proper coordination with the concerned local government units—keeping in mind the peace and order situation, as well as the mental health of learners and school personnel.

These acts of terrorism perpetrated by the New People’s Army have caused trauma to learners and school personnel who witnessed the senseless violence,” it added.

Order creating new water agency signed

A nd it is very gratifying to note that in fact, the technologies that are being used, that are being employed in terms of water treatment, in terms of water management, are well-known technologies,” Marcos said after touring the exhibits at the WPCE. We have of course fine-tuned it so that the filtration systems become better and better, our pumps become more efficient, our connections—water connections are more resilient to typhoons, to earthquakes and the other calamities that might happen along the way,” he added. O ver 300 exhibitors from participating international countries joined the WPCE, which will run from March 22 to 24, 2023.

Senators relieved SENATORS sitting in the Pub -

lic Services committee conveyed consumers’ expectations that the newly created water management office will “hopefully alleviate the creeping water crisis” in the country.

continued from a16

administration of water in the country, and this has “resulted in policy and regulatory conflicts” among these agencies.

Sen. Grace Poe, who chairs the committee, said the creation of a water management office is most welcome while the related bills in Congress are being threshed out.

This is a timely intervention from the Executive which will hopefully alleviate the creeping water crisis in the country,” said Poe. She pointed out that “as an archipelago surrounded with water, it is ironic that we have a water crisis in our hands due to a fragmented resource management.”

She added that currently, at least 30 line agencies are tasked with the

since 2010, was eventually lifted in May last year.

A resolution from the CA dated August 22, 2022, stating that the South Cotabato Provincial Environmental Code that bans mining in the province cannot be applied to firms permitted by Malacañang, particularly SMI, has further paved the road for the reopening of the mining operation.

“It is clarified that the ban on open-pit mining does not apply to large-scale mining operations of the said province, particularly the Tampakan project,” the CA said in its ruling.

P ro-mining tribal leaders and members released copies of the CA ruling to the media last Tuesday.

Dalena Samling, a popular tribal leader, was also quoted in the same

statement as saying that they “have long wished for the exploration of the copper deposits in Tampakan.”

“It can improve the municipality via revenues and the costly corporate social responsibility [CSR] projects of the SMI that Malacañang had contracted to mine for copper in our homeland,” Samling said.

It was the Blaan tribal councils in South Cotabato and prominent members of local business communities that sought the position of the CA about the extent of the applicability of the provincial ordinance prohibiting open-pit mining in the province. Mining experts believe copper deposits in the Blaan’s ancestral lands could reached by as much as $200 billion in the mineral-rich mountain municipality of Tampakan.

‘No action from LGU’

THE provincial government has decided not to appeal the case, citing that the decision did not invalidate the ordinance banning open-pit mining, it was learned. The provincial government, apparently, will adjust the ordinance to reflect the CA’s decision that the ban on open-pit mining is only applicable to small-scale mining.

T he anti-mining group Alyansa Tigil Mina (ATM) has expressed

dismay over the inaction of the Provincial Government of South Cotabato over the CA ruling exempting large-scale mining from the ban. We are extremely disappointed at the Court’s decision, which virtually curtails local autonomy by modifying the applicability of the ban on open-pit mining. Yet, we are also deeply frustrated at the local government for keeping mum about the CA decision, which was issued last August 22, 2022. It’s seven months since the Court handed down its ruling but it is only now that we’ve heard of it,” said Jaybee Garganera, ATM National Coordinator. Being party to the case, the local government must have certainly known about the decision. But why did they choose to be quiet? Why did they not inform the public about this, especially the advocates against mining in Tampakan? We feel deceived and betrayed,” Rene Pamplona, ATM Chairperson and one of the local leaders opposing large-scale mining in Tampakan said for his part.

T here are eleven (11) Mineral Production Sharing Agreements (MPSAs) and one (1) Financial or Technical Assistance Agreement (FTAA) in South Cotabato.

We expect that this development lays down the groundwork for a more integrated and holistic approach to the water problem,” said Poe, suggesting that “a wholeof-government approach is also necessary to tackle the issues of sourcing and misuse of water in the country.”

A t the same time, the senator acknowledged that both the Executive and Legislative departments are “working hard at a more lasting solution” in the form of a new water reform bill to ensure sufficient, clean, and affordable water for all Filipinos.

Samuel P. Medenilla, Butch Fernandez

Blue Ribbon affirmed: Execs suspended over Pharmally

“ The DOH would like to clarify that the preventive suspension is a not a penalty imposed on officials of the Department. This is a procedure legally done to ease the investigation with the influence of the individuals in question,” added the statement.

T he DOH assured that they will cooperate in the investigation “and will continuously uphold all due processes as mandated by the Office of the Ombudsman and the Governemnt of the Philippines.”

Of the P42 billion Covid-19 funds moved  from DOH to PS-DBM,

continued from a16

P8.6 billion was used by PS-DBM to procure face masks, face shields, and personal protective equipment (PPEs) from Pharmally Pharmaceuticals Corp., a trading firm with no track record in health supply production and capitalized at only P650,000.

Brief Job Description: Adapt and implement the global best practices in Decathlon to Decathlon Philippines Inc. Responsible for the development of a sports ecosystem in the Philippines with a view to increase our brand awareness and market share in the sports retail industry. Aligning the company’s training needs with

China and Russia deepen nuclear concord that concerns Pentagon

By Jonathan Tirone

CHINA and Russia are deepening cooperation on a key atomic technology that has Pentagon planners on edge because of its potential to upset the global balance of nuclear weapons.

Russian President Vladimir

Putin and Chinese counterpart Xi Jinping announced a longterm deal to continue developing so-called fast-neutron reactors.

The announcement came among a raft of agreements presented late on Tuesday following Xi’s threeday visit to Moscow, which also touched on topics from energy to news broadcasting.

In December, the Kremlincontrolled nuclear giant Rosatom Corp. finished transferring 25 tons of highly-enriched uranium to China’s first fast reactor, the CFR-600—a facility which analysts say could produce fuel for some 50 nuclear warheads a year.

Congress has been pushing the White House to crack down on what it views as “dangerous” ties between Rosatom and the China National Nuclear Corp.

“Russia and the People’s Republic of China’s nuclear cooperation goes much farther than just civilian projects,” wrote the chairmen of Congress’s armed services, foreign affairs and intelligence committees last week in a letter to National Security Advisor Jake Sullivan.

Despite sanctions over its invasion of Ukraine, Russia’s nuclear exports have surged over the last year, boosting the Kremlin’s revenue and cementing its influence over a new generation of global buyers. It’s the world’s biggest supplier of nuclear reactors and fuel. China’s fast-reactors, which use liquid metal instead of water to moderate operation, are based on Russian technology.

US Department of Defense officials have repeatedly raised alarm over China’s nuclear-weapons ambitions since issuing a 2021 report to Congress. Military planners assess that the CFR-600 is poised to play a critical role in raising China’s stockpile of warheads to 1,500 by 2035 from an estimated 400 today.

China has repeatedly rejected US concerns that the CFR-600 will be used to increase its nuclear-weapons stockpile. The unit is connected to the power grid and is part of the country’s ambitious $440 billion program to overtake the US as the world’s top nuclear-energy generator by the middle of next decade.

Speaking at a regular press briefing Thursday in Beijing, Foreign Ministry spokesman Wang Wenbin said that “China and Russia carry out normal civilian nuclear cooperation within the framework of international obligations and bilateral governmental agreements.”

“This is normal and beyond reproach,” he said. Bloomberg News

Fed opts for hike-and-see in gamble that bank crisis will stay contained

By Craig Torres

LESS than two weeks after the secondbiggest bank failure in US history, Federal Reserve Chair Jerome Powell made clear that inflation remains policymakers’ top concern.

The Fed chief advised that more Fed tightening may be in store after Wednesday’s interest-rate hike, and that the central bank will raise rates higher than expected if needed. In a press briefing, he also said officials don’t expect to be cutting rates this year—even as the bond market showed traders doubling down on that outcome.

Officials are making a calculated risk that, while the recent banking turmoil will likely slow the economy, it won’t mushroom into a broader financial meltdown. While their predecessors got a similar calculation wrong in 2007, regulators are counting on higher capital and liquidity standards, and a more muscular response, to ring-fence problems today.

“They think they have the tools in place to contain the turmoil in the banking system,”

Wells Fargo Chief Economist Jay Bryson said.

“There certainly is a risk that this could be a bad decision.”

Powell, during the press conference Wednesday, repeatedly noted uncertainty about the spillover effects from the bankingsector problems on lending. He also shared his impression of the speed at which events unfolded, with “a very fast run” on Silicon Valley Bank that left regulators asking themselves, two weekends back, “How did this happen?”

The Fed at that time declared “unusual and exigent” circumstances in launching an emergency cash facility for banks to help limit contagion from SVB’s downfall. Fast forward to Wednesday, and Powell assured that regulators’ actions demonstrated “all depositors’ savings are safe,” as is the banking system more broadly.

O ne complication emerged, however:

Treasury Secretary Janet Yellen in a Senate hearing the same time as Powell’s press conference said that regulators aren’t looking to provide “blanket” deposit insurance.

Those comments contributed to a selloff in equities, with the KBW Bank Index sliding after a two-day rally—showcasing continued nervousness about financial risks. US stock futures advanced and the dollar fell in Asian trade Thursday.

“ The Fed weighed the pros and cons of a wait-and-see approach against a continuation of hikes, and chose the latter.

Ukraine: Russia shells apartments and student dorm, killing civilians

By Hanna Arhirova The Associated Press

That signals an unconditional commitment to the price-stability leg of the Fed’s dual mandate. We think they made the right decision,” said Bloomberg economists Anna Wong, Stuart Paul and Eliza Winger. Powell’s comments reflected uncertainty over the banking stress. “It is possible this will have very modest effects on the economy and inflation will continue to be strong,”he said—in which case the Fed might raise rates beyond a range of 5 percent to 5.25 percent, officials’ current median estimate for the peak.

It is also possible, he said, that a pullback in lending contributes to lower consumption and demand. “That means monetary policy may have less work to do.”

What’s missing from the coin-toss outlook is a third scenario: unemployment starts to rise amid an already-fragile financial system, triggering defaults on loans by newly income-constrained households, amplifying stress inside banks.

“This has been the most aggressive monetary policy tightening cycle for 40 years and by going harder and faster into restrictive territory you naturally have less control over the outcome,” said James Knightley, chief international economist at ING. “This heightens the chances of economic and financial stress.”

The Federal Open Market Committee voted unanimously to increase its target for the federal funds rate by a quarter percentage point to a range of 4.75 percent to 5 percent, the highest since September 2007, when rates were at their peak on the eve of the financial crisis.

“A key takeaway was how uncertain Powell and the FOMC seem to be on the extent, duration and impact of tightening of bank lending standards,” said Kathy Bostjancic, chief economist at Nationwide Life Insurance Co. Bostjancic said Wednesday’s rate increase could have been influenced by markets having mostly priced it in. Powell revealed that officials had considered a pause “in the days running up to the meeting.”

It’s the second straight increase of 25 basis points following a string of aggressive moves starting in March 2022, when rates were near zero.

“What we know is inflation is too high,” said Phil Orlando, chief equity strategist at Federated Hermes. “This Powell Fed in our view has quite literally ripped a page from Paul Volcker’s playbook 40 years ago and they are going to do what they need to do to get inflation back to target.” With assistance from Steve Matthew/Bloomberg

“Russia is shelling the city with bestial savagery,” President Volodymyr Zelenskyy wrote in a Telegram post accompanying video showing what he said was a Russian missile striking a nine-story apartment building on a busy road in the southeastern city of Zaporizhzhia. “Residential areas where ordinary people and children live are being fired at.”

At least one person was killed in the attack shown in the Zaporizhzhia video, apparently recorded by closed circuit TV cameras. Elsewhere, Moscow’s forces launched exploding drones before dawn, killing at least eight people in or near a student dormitory near Kyiv.

Ukrainian media showed several angles of the missile raining down on an apartment building across the street from a shopping mall in Zaporizhzhia, producing a huge plume of gray and black smoke, with bits of concrete flying into the air as cars whizzed by. Videos showed the violent outcome of the attack: charred apartments, flames and smoke billowing out of several floors of the buildings, and piles of broken concrete and shards of glass on the ground. Two children were among the wounded, said Zaporizhzhia City Council Secretary Anatolii Kurtiev, adding that 25 people needed hospital treatment, with three in critical condition.

Zaporizhzhia City is about 100 kilometers (60 miles) from the Zaporizhzhia Nuclear Power Plant, Europe’s largest, which has come under threat during the war and has been shut down for months. The UN’s International Atomic Energy Agency reported the plant had suffered another loss of a backup external power

source. Its six reactors still need power to cool nuclear fuel, and were relying on only a primary source Wednesday, the IAEA said. Russia has denied targeting residential areas even though artillery and rocket strikes hit apartment buildings and civilian infrastructure daily. Russian officials have blamed Ukrainian air defenses for some of the deadliest strikes on apartments, saying the deployment of air defense systems in residential areas puts civilians at risk. Russia sometimes also claims Ukraine is hiding military equipment and personnel in civilian buildings.

The war, which Russia started February 24, 2022, has evolved in two main directions: a front line mainly in eastern Ukraine, centered around the city of Bakhmut, and periodic Russian missile and drone strikes nationwide. In addition, periodic—although unconfirmed—Ukrainian sabotage attacks have been launched across the border into Russia. The frontline fighting largely stalemated over the winter, with expectations of major offensives by both sides expected in more favorable spring weather.

Earlier Wednesday, a drone attack damaged a high school and two dormitories in the city of Rzhyshchiv, south of the Ukrainian capital, officials said. It wasn’t clear how many people were in the dormitories at the time. The body of a 40-year-old man was among those pulled from the rubble on one floor, according to regional police chief Andrii Nebytov, adding that more than 20 people were hospitalized. Video showed what appeared to be a bloodied sneaker and a green ball on the ground

near a damaged building, whose top floor was ripped off at a corner.

The attacks occurred as dueling diplomatic missions were winding down. Japanese Prime Minister Fumio Kishida left Kyiv after meeting Zelenskyy to support Ukraine. Chinese leader Xi Jinping left Moscow after meeting with Russian President Vladimir Putin about Beijing’s peace proposal, which the West has rejected as a non-starter. No progress toward peace was reported. US National Security Council spokesperson Adrienne Watson noted the violent turn of events.

“Just one day after Russia called for peace, Russia is attacking Ukrainian homes as part of its brutal war,” she said in Washington. “What Russia is doing is horrific—and we are committed to continuing to help Ukraine defend itself against this Russian aggression.”

The drone barrage and other Russian attacks on civilian infrastructure also drew a scathing response from Zelenskyy.

“Over 20 Iranian murderous drones, plus missiles, numerous shelling occasions, and that’s just in one last night of Russian terror,” he tweeted in English. “Every time someone tries to hear the word ‘peace’ in Moscow, another order is given there for such criminal strikes.”

Zaporizhzhia’s regional administration said two missiles struck the apartment block, saying Russia’s goal is “to scare the civilian population of the city of thousands.”

“It’s hell in Zaporizhzhia,”

Ukrainian lawmaker Oleksiy Goncharenko wrote on Telegram, adding: “There aren’t any military facilities nearby.”

Vladimir Rogov, an official with the Moscow-appointed regional administration for the Russian-occupied part of the Zaporizhzhia region, claimed, without offering evidence, that a Ukrainian air defense missile launched to intercept a Russian missile had hit the apartment complex.

In other attacks, Ukrainian air defenses downed 16 of the 21 drones that Russia launched, the Ukraine General Staff said. Eight were shot down near the capital, according to the city’s military administration. Other drones struck west-central Khmelnytskyi province.

Also Wednesday, Zelenskyy made another in a series of battlefield visits, meeting with soldiers and officers in the eastern Donetsk region, stopping by a hospital to see wounded troops and giving state awards to the defenders of Bakhmut, a devastated city that has become a symbol of Ukraine’s dogged resistance under a threat of Russian encirclement and for months has been the scene of the war’s bloodiest fighting and longest battle. Zelenskyy’s last known visit to the Bakhmut area was in December. On Wednesday, the Ukrainian president also visited Kharkiv, Ukraine’s second-largest city, which his forces recaptured from the Russians last September.

Elise Morton in London and Andrew Katell in New York contributed

US: Chinese claim it drove away American destroyer is ‘false’

By David Rising The Associated Press

BANGKOK—The United States denied Chinese claims Thursday that its military had driven away an American guided-missile destroyer from operating around disputed islands in the South China Sea, in an incident that comes as tensions in the region between the two powers continue to rise.

The US Navy’s 7th Fleet said that a statement from China’s Southern Theatre Command that it had forced the USS Milius away from waters around the Paracel Islands—called Xisha by China—was “false.”

“USS Milius is conducting routine operations in the South China Sea and was not expelled,” said Lt. j.g. Luka Bakic in response to a query from The Associated Press.

“The United States will continue to fly, sail and operate wherever international law allows,” Bakic added.

Bakic would not comment on whether the ship had been operating in immediate proximity of the Paracel Islands, which are in the South China Sea a few hundred kilometers (miles) off the coast of Vietnam and the Chinese province of Hainan, or whether there had been any sort of a confrontation.

China occupies the Paracel Islands, but they are also claimed by Taiwan and Vietnam. Col. Tian Junli, a spokesman for China’s Southern Theatre Command, said earlier that the Chinese navy had followed and monitored

the USS Milius after it “illegally entered China’s Xisha territorial waters without approval from the Chinese government, undermining peace and stability in the South China Sea.”

He said that the Chinese navy and air force then forced away “the US warship in accordance with the law.”

“The theatre troops will maintain a state of high alert at all times and take all necessary measures to resolutely safeguard national sovereignty, security as well as peace and stability in the South China Sea,” he said.

The incident comes amid growing tensions between China and the United States in the region, as Washington pushes back at Beijing’s growingly assertive posture in the South China Sea and elsewhere.

China claims ownership over virtually the entire strategic waterway, through which around $5 trillion in global trade transits each year and which holds highly valuable fish stocks and undersea mineral resources.

The Philippines, Brunei, Malaysia, Vietnam and Taiwan also have

The US itself has no claims to the waters, but has deployed Navy and Air Force assets to patrol the waterway for decades and says freedom of navigation and overflight is in the American national interest.

China has frequently responded angrily, accusing the US of meddling in Asian affairs and demanding it leave the region where it has had a naval presence for more than a century.

KYIV, Ukraine—Russia stepped up its missile and drone attacks against Ukraine on Wednesday, killing students and other civilians, in a violent follow-up to dueling high-level diplomatic missions aimed at bringing peace after 13 months of war.

A RESIDENTIAL multi-story building is seen damaged after a Russian missile hit it in southeastern city of Zaporizhzhia, Ukraine on Wednesday, March 22, 2023. AP/KATERYNA KLOCHKO

competing claims.

IN this photo provided by the US Navy, the Arleigh Burke-class guided-missile destroyer USS Milius (DDG 69) steams in the Philippine Sea on March 13, 2023. The United States denied Chinese claims Thursday, March 23, that its military had driven away an American guidedmissile destroyer from operating around disputed islands in the South China Sea, in an incident that comes as tensions in the region between the two powers continue to rise. The US Navy’s 7th Fleet said that a statement from China’s Southern Theatre Command that it had forced the USS Milius away from waters around the Paracel Islands—called Xisha by China—was “false.”

Let’s help preserve humanity’s lifeblood

The earth is known as the “Blue Planet” because 71 percent of its surface is covered with water.

The oceans hold about 96.5 percent of all earth’s water. Of the waters occupying the planet’s surface, only 3 percent is considered freshwater. And most of this freshwater reserve is inaccessible to humans locked up in polar ice caps or stored too far underneath the earth’s surface to be extracted. Furthermore, much of the freshwater that is accessible has become highly polluted. This leaves us with roughly 0.4 percent of the earth’s water that is usable and drinkable to be shared among seven billion people.

The United Nations General Assembly adopted a resolution in 1992, declaring March 22 of each year as World Day for Water, to be observed starting in 1993. World Water Day is celebrated in order to raise awareness about the inaccessibility of water for billions of people.

The world’s precious water resources are “in deep trouble” and leaders are meeting at UN Headquarters this week to address what has become a multifaceted global crisis, before it is too late.

This historic United Nations Water Conference—the first in nearly 50 years—was organized this year as part of the global celebration of World Water Day. On Wednesday, the World Health Organization (WHO) and the United Nations Children’s Fund called on all nations to radically accelerate action to make water, sanitation and hygiene (WASH) a reality for all.

A new report—UN World Water Development Report 2023—launched on the eve of the first major UN conference on water, showed staggering numbers: Around the world, 2 billion people lack safe drinking water and 3.6 billion people—almost half the world’s population—use sanitation services that leave human waste untreated.

Millions of children and families do not have adequate WASH services, including soap to wash their hands. The consequences can often be deadly. The report said each year at least 1.4 million people—many of them children —die from preventable causes linked to unsafe water and poor sanitation. “Right now, for example, cholera is spreading in countries that have not had outbreaks in decades. Half of all health care facilities—where proper hygiene practices are especially critical—lack water and soap or alcohol-based hand sanitizing solution.”

Water is the lifeblood of humanity. It is vital for survival itself and supports the health, resilience, development and prosperity of people and planet alike.

As this year’s UN report reminds us, protecting and preserving this precious resource for future generations depends on partnerships. The smart management and conservation of the world’s water resources means bringing together governments, businesses, scientists, civil society and communities—including indigenous communities—to design and deliver concrete solutions.

At this week’s United Nations Water Conference, UN Secretary-General António Guterres underscored that water is a human right and critical to development that will shape a better global future. “But water is in deep trouble,” he warned. “We are draining humanity’s lifeblood through vampiric overconsumption and unsustainable use, and evaporating it through global heating. We’ve broken the water cycle, destroyed ecosystems and contaminated groundwater.”

The UN chief urged countries to come together and find solutions to ensure everyone, everywhere has access to clean and safe water. Guterres said: “Now is the moment to stand together and invest in the management and governance of the world’s water resources and freshwater ecosystems. We must strengthen accountability and equitable water access for all people, and place conservation of this precious resource first across national and global plans and priorities.” We can all help preserve the world’s water resources. We can all help protect the planet’s freshwater ecosystems. We all have an important role to play in helping preserve and protect the lifeblood of humanity.

A big push for micro, small and medium enterprises

come has also increased from only P30,000 to P180,000 a month.

sonny M. angara

Better Days

eArLier this week, we sponsored a measure that will institutionalize the Shared Service Facilities (SSF) Project of the Department of Trade and industry (DTi). Through the SSFs micro, small and medium enterprise (MSMe) qualified beneficiaries are provided with the appropriate machinery, equipment, and tools under a “shared” system that would address known gaps in the value chain, most notably the lack of adequate and appropriate facilities, which hinder them from elevating their products and services and enabling the creation of export-ready goods.

Since its inception in 2013, the SSF Project has proven to be effective in assisting our MSMEs grow, particularly industries engaged in processed food, coconut, bamboo, meat, coffee, gifts, decor and housewares, handicrafts, dairy, furniture and furnishings, among others. Latest data from DTI shows that the 3,484 SSFs that have been established in all the regions of the country—including those that were enhanced and upgraded—benefitted nearly 580,000 individuals and created over 317,000 new jobs. In fact, according to a 2022 survey from the University of the Philippines Institute of Small Scale Industries (UP-ISSI), 52 percent of respondents noted an increase in income due to the said project. Meanwhile, 25 percent said that the SSF resulted in an increase in production while 18 percent reported an increase

in job opportunities. In addition, a 2021 Impact Evaluation Assessment submitted to the United Nations Development Programme (UNDP) underscored that the “shared” nature of the SSF Project makes it a viable strategy and is expected to have a positive impact on the performance of beneficiaries. Testimonials from beneficiaries or “cooperators,” as they are known under the project, also highlight the tremendous impact of SSFs to the growth of their businesses. For instance, the Samahang Magniniyog ng Pikit Multi-Purpose Cooperative in North Cotabato, a cooperative engaged in the production of coco sugar, noted that they were able to increase their production from 150 kilograms to 500 kilograms to a ton every month through the assistance of the SSF. Consequently, their in-

Another example is the Chokolate de San Isidro in Davao Del Norte, which, through the SSF Project, were provided with equipment and tools to process cacao and manufacture tablea and chocolate candy. According to the company, the facilities enabled them to make around 180 kilograms of tablea every day—far from their previous production of only 3 kilos on a daily basis. In fact, the company is now able to export their products.

Another feature of the proposed measure is to mandate the creation of an SSF Fabrication Laboratory or Fab Lab, which are SSFs equipped with advanced technology such as 3D printers, laser cutters, and other computer-aided machines, in every province. This is highly important as the existing Fab Labs empowered many businesses and individuals to harness their creative and innovative potential as they invent and make prototypes of new products. Fab Labs even played quite a significant role during the height of the Covid-19 pandemic by producing over 85,000 face shields, 60,000 face masks, 2,000 medical gowns, 250 aerosol boxes, and close to 4,000 liters of ethyl alcohol—supplies that were incredibly scarce during that time.

The SSF Project of DTI is among the select government initiatives that truly deserve more support because of the demonstrable success that it has garnered over the years. The contribution to economic development and poverty alleviation

Women, economics, and economy

Mildred M. es tanda

iN 1994, Ms. Universe Sushmita Sen gave her award-winning answer to the question of a woman’s true essence. Ms. Sen said, “Just being a woman is a gift of God that all of us must appreciate. The origin of a child is a mother, who is a woman.” her reply implies that a woman’s reproductive role centers on being a biological bearer of infants—something that is expected and natural.

Often, the various expectations that people, groups, and civilizations have of women define their gender and roles. When society divides what the appropriate type of work is for a man or for a woman, we also socially establish gender roles on what is considered suitable work for each sex. These appropriations of gender roles result in inequality and discrimination against women. According to savethechildren. org, gender norms and gender roles

describe how people of a particular gender and age are expected to behave in a given social context. Harmful gender roles result in many types of inequalities between girls and boys. However, while gender norms can affect all children, they are proven to disproportionately affect girls. More than 575 million girls live in countries where inequitable gender norms contribute to violations of their rights, such as health, education, marriage, and gender-based violence.

Gender norms are social principles that govern the behavior of girls, boys, women, and men in society and restrict their gender identity into what is considered to be appropriate. Gender norms are neither static nor universal and change over time. Some norms are positive (e.g., that children should not smoke), while others lead to inequality (e.g., that household chores are performed more by girls than boys). Gender roles are behaviors, attitudes, and actions that society feels are appropriate or inappropriate for a man or woman, boy or girl, according to cultural norms and traditions.

In many countries all over the world, women are not treated fairly. In terms of global literacy, female literacy rates lag behind that of males (Unesco Institute of Statistics, 2010). The current global labor force participation rate for women is a little under 47 percent, whereas the figure for males is 72 percent (International Labour Organization, 2022). This means that women around the world struggle

of these packages of equipment and facilities are tremendous, and should not be ignored. More importantly, it is consistent with the current administration’s goal of making more MSMEs be driven by Science, Technology, and Innovation.

This laudable program dovetails with our Tatak Pinoy (Proudly Filipino) advocacy aimed at increasing the productivity and innovativeness of Filipinos—particularly the MSMEs in the countryside by introducing technology-driven reforms and initiatives. With Tatak Pinoy, we aspire to make Filipino entrepreneurs and industries more competitive, produce more complex products and consequently, create more quality jobs for our people. The SSF program plays a key role in achieving this objective and it is only fit that this is institutionalized to ensure it gets the funding support and is continued in the years to come.

DTI’s tagline for this project is: SSFs equate to Shared Success for Filipino MSMEs. But as MSMEs are among the foremost job creators and income generators of the country, we are convinced that a scaled up, wellprovisioned, well-coordinated, and institutionalized SSF project will result in shared success for all Filipinos.

Senator Sonny Angara has been in public service for 18 years—9 years as Representative of the Lone District of Aurora, and 9 as Senator. He has authored, co-authored, and sponsored more than 330 laws. He is currently serving his second term in the Senate.

E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

more than men do to find employment, and when women find employment, they generally land in low-salary and dangerous jobs with little indication that their situation will improve.

The impact of these disparities have been a major topic of study in the social sciences. However, this has been less true in economics than in many other subjects because economic studies have concentrated primarily on market interactions throughout history. By contrast, much of women’s economic activity has occurred outside formal markets (Lundberg, 2022). Their labors are considered invisible or missing. In 1990, Nobel Prize winner economist Amartya Sen examined the conditions of these so-called “missing women.” Every year, six million women are considered “missing”—23 percent were never born; 10 percent disappeared while still in infancy; 21 percent disappeared while in their reproductive years; and 38 percent of those over 60 disappeared (World See “Eagle Watch,” A15

All quiet on the front Project Hulmahan: Turning discarded shoe molds into artworks

Tito Genova Valiente

annoTaTions

Dennis Gorecho

KuwenTonG peyups

PeOPLe wonder why we have a lot of stuff in our house that my father did not want to dispose, especially the shoes.

Papa justified this by saying that while he was growing up, he never had the luxury of owning new ones since both he and my mother came from a family with very modest means.

Long before ukay-ukay became famous, we were already wearing second-hand shoes and clothes, sleeping on beds, sitting on chairs and sofas that Papa bought from the shops in Bangkal, Makati.

He tried to instill in us the value of small blessings.

I again felt my father’s wisdom when I saw artworks made of discarded wooden shoe molds at the Project Hulmahan exhibit in Estancia Mall in Pasig City.

“Project Hulmahan” is an “artdriven, mutual aid fundraising initiative in support of communitybased food sovereignty, livelihood, and art programs.”

Zena Bernardo, a colleague from Sandigan Para sa Mag-aaral at Sambayanan of the University of the Philippines (UP SAMASA), narrated that in one of their visit in a small informal settlers community called Isla de Lata, she noticed that some shoe molds were already thrown or were being used as firewood for the community kitchen.

As Bernardo felt sad that the shoemaking tools are going to waste, their group Bayaning Marikenyo at Marikenya (BM+M) then met with shoe manufacturers who were closing shop in Marikina and selling family businesses that have been passed on to them by their grandparents.

They bought more than 500 pairs of shoe molds and developed the idea of turning it into artworks to raise fund for community-based programs. Ladies Who Launch, The Community Kitchen Project (TCKP), and the UP Artists’ Circle Fraternity (AC) were also involved in the endeavor.

“We thought that if we can just find a way to bring back the glory days of the shoe industry in our hometown, one community at a time, while simultaneously doing our community kitchens, we will be serving the name of our organization well,” Bernardo said.

With at least 700 artists nationwide participating, the exhibit proceeds will go to community kitchen, disaster relief, livelihood projects and art workshops.

Visual artist Toym Imao, also from UP SAMASA, said that Project Hulmahan is a community of artists that answers the call to use their art for the benefit of the marginalized and disadvantaged in society.

Imao noted that displaying the artworks, whether by a veteran or neophyte artist, side by side is like a flea market where one scavenges for hidden treasures.

“Those who participated with varying skills in the arts from the novice to the more professional have their works displayed side by side, each as important as the other. Collectively they represent the best of what we can do as creatives if we put our talents and hearts together for a noble pursuit,” Imao said.

Marikina, to many Filipinos, is

. . .

Bank, 2011). The data suggest that for every missing woman, many more women were denied access to education, career, or political positions that they would have had if they had been men (Duflo, 2012).

Marikina, to many Filipinos, is synonymous with shoes. It was in 1887 when shoemaking started to flourish in Marikina through the efforts of Don Laureano “Kapitan Moy” Guevara, also known as the “Father of the Shoe Industry.”

synonymous with shoes. It was in 1887 when shoemaking started to flourish in Marikina through the efforts of Don Laureano “Kapitan Moy” Guevara, also known as the “Father of the Shoe Industry.”

Kapitan Moy had bought himself a pair of imported shoes during one of his trips to Manila. He used this pair of shoes as an example for his workers to study and duplicate. They dissected its various parts and by trial and error, they learned how to put them back together.

Marikeños were later taught the skills of shoemaking as a source of livelihood in the town aside from the main activities of fishing and farming. The economic growth of Marikina became dynamic due to shoemaking.

It is also the home of the world’s largest pair of shoes certified by the Guinness Book of World Records. However, trade liberalization has allowed greater entry of imports in the country. The shoe industry has been adversely affected as it suffered losses due mainly to the competition posed by products coming from China, Malaysia, and Vietnam, among others.

At one point the industry was contributing 70 percent to the city’s economy, but this had dwindled to a mere 15 percent in December 2019.

Marikina 2nd district Rep. Stella Quimbo, who is also my classmate from the UP School of Economics, proposed to source additional funding for the local footwear, leather goods, and tannery industry from a portion of the taxes collected from importing footwear products.

Hulmahan artworks also reminded me of  “Sandosenang Sapatos”, a 2013 children’s musical at the Cultural Center of the Philippines based on a book by Palanca Awardee Dr. Luis Gatmaitan.

It is about a shoemaker’s love for his physically disabled daughter and his family. He vows to make the best ballerina shoes for her. But his dream gets shattered when they find out that the baby’s feet are not and will not be developed as normal limbs.

Bernardo stressed that each artwork is “a piece of the story of how people rise against all the challenges brought by the pandemic.”

Peyups is the moniker of University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com or call 0917-5025808 or 0908-8665786.

In recent years, countries, institutions, and several organizations have realized that underinvestment in women in education bears significant opportunity costs. If women are provided the same access as men, and if their voices are heard, poverty situations could be readily addressed. If the potential of women can be harnessed, enor-

Have we forgotten our frontliners? That was a question I got from some readers in response to my previous a n notations titled “Lockdown, happy anniversary” (See March 17, 2023 issue).

As with any wars, for the pandemic was another global war, when the entire world struggled against a virus, those in the front line were killed first, or suffered more, and then forgotten.

Think of our health system. On paper and in reports, we see a country where everyone is enrolled in a single-payer healthcare system. Reality on the ground tells a different story. When the pandemic overtook the entire archipelago (save a few villages that benefited from isolation), there was the Department of Health (DOH) tasked to oversee the responses to the worldwide affliction. As with central organizations, the DOH bore the burden of making its services accessible. In many cases, DOH had a basic critical problem—how to make itself known to far-flung sites and communities. Responding to this gap, which was at the core of any modernizing approach, were the so-called rural health units.

Underpaid, understaffed and supported by an army of volunteers, these health units, which were also found in urban barangay, composed the frontliners. As with physical confrontations, they were the ones who stood their ground, hungry and ill equipped. Without them, all of us, with no fear of exaggeration, would have perished by millions overnight.

To understand the function of these volunteers in the Philippine model is to see them against the honorarium they receive, P1,000 or a bit more each month. Picture these individuals as they belonged to a family

unit. In the most common scenario, these volunteers who were mostly women, had to continue their work outside beleaguered households. That time, they had the more difficult and most dangerous jobs of being there at the front—exposed, vulnerable against a disease that even the scientific community had no clear idea yet in the beginning of the pandemic. Ignorance was bliss for these beings. But that bliss would prove to be fatal to most.

Do we have a tally of volunteers who were infected with the virus during the initial surge of infections, when the virus was perceived to be most virulent? Did the government ever concern itself with the welfare of these health workers, including the volunteers?

Almost out of the woods, are we ready to reward these frontliners? To honor them not only with certificates of appreciation but also pay them for the risks they had incurred?

I have memories of these frontliners:

A few months after the pandemic, when the immediate response of local governments was to set up boundaries and checkpoints, I received messages from friends, most of them doctors and nurses. When

the local government nearest them asked for volunteers, they responded. One was manning the boundary between our city and the next town. He was with other individuals whose names were familiar as they came from the same high school I attended. I was proud of them. I try to imagine what it was to be there at the outpost in the dead of night, inspecting vehicles coming into the city. Each city, each town, assumed they were the purer place, free from the dreaded virus. My response was to pray for them.

The notion of frontliners became vivid; this was our generation’s own warfront.

In Manila and other cities, names of doctors and other health workers kept cropping up online and with their names were images of votive

ing a pair of boots also. Where did she get them? She was an amusing sight even as my heart went out to her— this individual who was, as with all mothers, gentle and protective of her own children. There she was, in the rain and cold, checking trucks, near midnight at the boundary between two towns, which we did not know was that important.

Gender distinction was dissipated by the pandemic. There were more women standing as sentry at the front line.

That night, I prayed even harder with a fervor I never thought I was capable of summoning from within. Protect them all Please save them

Abroad where our migration profile gave us links to nurses, midwives, medical technologists, and doctors—all sorts of health workers—cousins, nephews and nieces reported even more unique difficulties in groups of people who held onto their inalienable human rights and refused to wear masks. We were helpless even thinking of them. Our response was quiet resignation. When finally the vaccines became available, the same health workers proved to be indefatigable. They were our immediate succor. Hope became tangible in their persons. The volunteers, imperfect as they were, served as our connection to the socalled “ayuda” or economic aid, before the said term became a vulgar term for extreme dependency or sycophancy.

candles. Or, around their photos were garlands of flowers and loving thoughts of remembrance. My response was of fear. Anxiety.

The affliction would come close to home. A nephew would share photos of his mother, a nurse in a rural health unit. She was wearing what was becoming familiar to us—a raincoatlike costume called PPE. Personal Protective Equipment. She was wear-

Now, the front is quiet. The venues of distress have been vacated. The masks are still sometimes worn but the face shields now lie around, artifacts of bygone years. Gratitude is once more viewed as overrated, the frontliners and those who were brave enough, unthanked, unpaid, forgotten.

E-mail: titovaliente@yahoo.com

Analysis: China’s sway over Russia grows amid Ukraine fight

By Vladimir Isachenkov | The Associated Press

MOSCOW—It was a revealing moment during Chinese leader Xi Jinping’s tightly scripted visit to Moscow: Standing in the doorway of the Grand Kremlin Palace, he told Russian President vladimir Putin that the two of them were “witnessing the changes that haven’t been seen in more than a century, and we are pushing them together.”

“I agree,” Putin responded.

The remarks—caught on a Kremlin camera over a bodyguard’s shoulder—offered a rare glimpse into Xi’s ambitions and his relationship with Russia after more than a year of fighting in Ukraine.

While Moscow increasingly looks like a junior partner to Beijing, Xi is likely to offer a strong lifeline to Putin, his key partner in efforts to reshape the world to try to limit US domination.

Xi’s unusually blunt statement capped more than 10 hours of Kremlin talks, which ended with long declarations filled with florid rhetoric about expanding the “comprehensive partnership and strategic cooperation” between Russia and China, pledges to champion a multilateral approach to global affairs and criticism of Washington.

In his concluding statement, Putin hailed the Chinese proposal for a settlement in Ukraine, which the West had all but rejected as a non-starter. The Russian leader also rolled out a

mous gains for the family, society, and country are at hand. No less than the United Nations firmly believes that gender equality is the key to achieving sustainable development.

S ome international agency reports have shown pockets of progress in bridging the persistence of gender inequality, albeit at a very

slew of initiatives that cemented his country’s role as a key source of energy and other raw materials for China’s giant economy. He proposed building new energy pipelines, invited the Chinese to fill the niche left after the exodus of Western businesses, and vowed to boost the export of agricultural products to China.

Xi remained tight-lipped, avoiding any firm commitments regarding specific projects and mostly sticking to general and vague rhetoric about expanding ties.

“A lot of things that Vladimir Putin would have liked to happen did not, in fact, happen,” Rana Mitter, professor of Chinese history and politics at Oxford University, told The Associated Press. “There was no point at which Xi explicitly said that he accepted Russia’s position on the Ukraine war over the position of Ukraine.”

In fact, there was “a sense that China was reserving for itself the right to step away from a complete endorsement” of the Russian position, Mitter added.

slow pace. Some have stood up to challenge the inequality. Some are doing it individually. Others are fighting through their agencies, affiliations, as well as organizations. While there is still a long way to go before having a truly egalitarian society, many women are already several steps ahead in making sure that their future is what they want

Moscow and Beijing said they would increase contacts between their militaries and stage more joint sea and air patrols and drills, but there wasn’t even the slightest hint from China about helping Russia with weapons, as the US and other Western allies feared.

Speaking Wednesday before a Senate committee, US Secretary of State Antony Blinken said China so far has heeded strong US warnings against providing lethal material support for Russia in Ukraine. “We have not seen them cross that — cross that line,” he said.

A top analyst at the US Defense Intelligence Agency said Beijing wants to be seen as a peacemaker and diplomatic heavyweight.

“So I think China would be very reluctant to be seen openly supporting Russia with lethal aid,” said Doug Wade, head of the DIA’s China mission group. “It would undermine their whole narrative about their role in the world that they’re trying so hard to sell.”

US National Security Council spokesperson John Kirby described the Putin-Xi relationship as “a marriage of convenience,” in which they pool efforts to challenge US leadership, and the Russians “certainly are the junior partner.” He added at a briefing earlier this week that Putin sees Xi as “a lifeline of sorts” amid the fighting in Ukraine.

Many commentators argued that the summit marked Putin’s failure to win any specific aid from Beijing and cemented Russia’s increasingly subordinate role in the alliance with China.

“China’s domination of Russia is complete,” tweeted Sam Greene, professor in Russian politics at King’s College London. “While there were undoubtedly agreements we are not meant to know about, there is no indication here of a significant increase in military support for Russia—nor even of a willingness on Xi’s part to ramp up diplomatic support. A swing and a miss for Putin.”

After more than a year of fighting in Ukraine and bruising Western sanctions, Russia’s dependence on China has increased significantly. Facing Western restrictions on its oil, gas and other exports, Russia has shifted its energy flows to China and sharply expanded other exports, resulting in a 30% hike in bilateral trade.

Western price caps on Russia’s oil forced Moscow to offer it to China and other customers at a sharp discount, but despite those lower prices, the vast Chinese market ensured a stable flow of oil revenue to the Kremlin’s coffers. Isachenkov has covered Russia and other former Soviet nations for The Associated Press since 1992. Associated Press writers Michael Weissenstein in New York, and Matthew Lee, Zeke Miller and Nomaan Merchant in Washington contributed.

encourage significant participation in economic decision-making. An empowered woman contributes to the productivity of her family, organizations, society, and country. Happy women’s month!

A16 Friday, March 24, 2023

Blue Ribbon affirmed: Execs suspended over Pharmally

By Butch Fernandez @butchfBM & Claudeth Mocon-Ciriaco @claudethmc3

THE Office of the Ombudsman has suspended over 30 past and present officials in three agencies, including its own overall deputy ombudsman, in connection with alleged wrongdoing in handling billions of pandemic funds, affirming most of the findings of the Senate Blue Ribbon investigation.

S enator Risa Hontiveros on Thursday hailed the Ombudsman’s decision to issue a “preventive suspension” order related to the Pharmally investigation, but expressed hope the antigraft agency will also be able to pin down the brains behind the scandal, which saw P42 billion of funds for pandemic supplies awarded to a low-capitalized, unproven new firm.

T he funds were in the budget of the Department of Health, but then Health Secretary Francisco Duque III ordered its bulk transfer to the Procurement Service of the Department of Budget and Management (PS-DBM), on the ground that the

DOH was too busy with the pandemic response to handle the huge procurement chores.

T he PS-DBM handling of the funds caught the eye of state audtors, and the Commission on Audit (COA) report in August 2021 subsequently triggered a five-month Blue Ribbon inquiry led by its then chairman, Sen. Richard J. Gordon.

T he Office of the Ombudsman has validated the Senate probers’ findings that the evidence of guilt is strong, Hontiveros said in a reaction on Thursday, after the Ombudsman suspended former PSDBM head Lloyd Christopher Lao and his then colleague in PS-DBM

Warren Rex Liong, who is now the overall deputy ombudsman.

L iong denied wrongdoing, saying he merely followed established protocols for emergency procurement.

“

[We thank the] Ombudsman for being true to its mandate to run after those who commit wrongdoing,” said Hontiveros, who in October 2022 joined Gordon in filing a formal complaint with the Ombudsman. “My hope is that the investigation will also look into the masterminds behind this modus, well beyond the foot soldiers and mid-level officials,” she added.

T he senator noted that although the Ombudsman order only covers the Covid-19 test kits, “we look forward to an investigation of the PPEs and other overpriced procurements.”

S he expressed confidence the “COA special audit will paint an even fuller picture,” and that “any and all ill-gotten profit made from taxpayers’ money should eventually be seized and turned back over to the government where it belongs.”

DOH reacts

THE DOH, meanwhile said it welcomes the Office of the Ombuds -

ORDER CREATING NEW WATER AGENCY SIGNED

PRESIDENT Ferdinand R. Marcos, Jr. finally signed the Executive Order creating the new government office to tackle the country’s “water crisis.”

man’s decision after several officials of the agency were ensnared for the alleged corruption in the Pharmally transactions of Covid-19 response supplies.

Placed under 6-month preventive suspension were former Assistant Secretary Nestor Santiago, Jr., procurement service director Crispinita Valdez, also Research Institute for Tropical Medicine (RITM) officials Amado Tandoc, Lei Lanna Dancel, Dave Tangcalagan, Jhobert Bernal, Kenneth Aristotle Punzalan, Rose Marasigan and Maria Carmela Reyes. These officials have been with the agency for decades, and we continue to recognize their service, sacrifice, and commitment to the Filipino people. While we commit to religiously comply with all the procedures, the DOH vouches for the integrity of these officials, who have played significant roles in the country’s Covid-19 response,” the DOH said in a statement.

T he DOH also reiterated the role of the DOH and RITM was limited to “providing technical inputs” as end-users in the conduct of the procurement of commodities for Covid-19 pandemic.

Gracing the 6th edition of Water Philippines Conference and Exposition (WPCE) at the SMX Convention Center in Pasay City on Thursday, Marcos disclosed the Office of Water Management (OWM) will help address the shortage of reliable water supply in some parts of the country.

“ It is something that we must always keep in mind, especially now. And that’s why, we in the government—I just signed an executive order wherein we have created the Office of Water Management,” Marcos said.

L eft unresolved, the crisis will have detrimental effects on the economy, particularly agriculture, the President said.

And so these are the things that we really have to attend to. So it really—it impacts the area of food supply, in a food crisis,” Marcos said.

T he creation of the OWM, Marcos said, will help plug the gaps in the government’s water policies.

“ There are many agencies that are involved in water sup -

ply and water management and it has just evolved that way,” Marcos said.

But what we are going to try to do is to make it a more cohesive policy so that there is planning at the national level and in that way we can maximize the management of what water we have,” he added.

I n February, Marcos already approved in principle the creation of the OWM to coordinate the initiatives of the Metropolitan Waterworks and Sewerage System (MWSS) and Local Water Utilities Administration (LWUA) and the Department of Environment and Natural Resources (DENR) through the creation of an Integrated Water Management Policy (IWMP).

He said he hopes the OWM will be eventually institutionalized into the Department of Water Management (DWM) through legislation.

A side from the IWMP, the President is also eyeing new technologies to help address local water supplies issues, which are being worsened by climate change. “ I happened to—have been given the opportunity to walk around a little bit and see some of the exhibitors.

Red tape nixed for cancer-patient trials

By Rizal Raoul S. Reyes @brownindio

THE Philippines should create a conducive environment to enable multinational drug companies to conduct their free clinical trials in hassle-free conditions especially for the country’s cancer patients.

That’s where we should work on. We should make it easier for the drug companies to bring their research to us,” Dr. Jorge Ignacio, chairman of the Cancer Institute of the Philippine General Hospital said on Thursday in a press briefing held in Manila.

“ Unfortunately, we’re acting quite slow in this matter because of our technical and ethics review,” Ignacio pointed out. Ignacio urged the government to establish an agency dedicated to handling matters regarding cancer diseases from consultation, chemotherapy, financial assistance, counseling, among others.

R ight now, Ignacio said drug companies are required to get the approval of the institutional review board of several institutions before undergoing clinical trials.

Since cancer treatment requires a gargantuan amount of financial resources, Ignacio pointed out that P1-billion cancer fund is not quite sufficient. “I don’t know if there was a feasibility study done on the preventive side. It did not include economic experts who can project the real cost of such a project,” he said.

“ If they had included me in the consultation, I would tell them P1 billion is not enough,” he added.

I n PGH alone, the annual budget for cancer patients is P600 million. The hospital receives 60,000 to 70,000 patients annually.

In February this year, the government restored government funds totaling P1.56 billion for cancer.

House Deputy Speaker Ralph Recto recently said in a statement that the initiative result is a “product of a multipartisan, bicameral push.”

O f the P1.56 billion, the House allotted P1.054 billion for cancer prevention, detection, treatment, and care, as laid out in Republic Act No. 11215 or the National Integrated Cancer Control Act.

A portion of the budget, Recto said, will be assigned for the acquisition and delivery of cancer, supportive care and palliative care medicines under the eight treatable cancer types.

M eanwhile, the remaining P500 million under the Cancer Assistance Fund, will be assigned for “cancer prevention, detection, treatment, diagnostics, and care for eight priority cancer types.

A ccording to a study conducted  by the University of the Philippines’ Institute of Human Genetics, National Institutes of Health, 189 of every 100,000 people are affected by cancer, with four Filipinos dying of the dreaded disease. The top five causes of cancer in the Philippines are breast cancer, lung cancer, colorectal, liver and prostate.

‘ATTACK’ DRILL Members of the Bureau of Fire Protection (BFP) and

Companies

Editor: Jennifer A. Ng

Friday, March 24, 2023

Budget overrun cut to ₧33B; profit down by 60%–PLDT

By Lorenz S. Marasigan @lorenzmarasigan

With the execution of the said program, PldT was able to taper its capital expenditures (capex) overspend to P33 billion.

Marilyn v i ctorio a q uino, the company’s chief legal counsel, said the telco titan has completed the discussion with its major vendors, which represent 80 percent of the outstanding capex commitments as of end-december.

“That effort resulted in the company’s entry into Settlement and Mutual Release a g reements with its major vendors in March 2023. Those agreements have the effect of reducing the company’s outstanding commitments to these vendors for the acquisition of property and equipment post-2022 to approximately P33 billion, net of advances paid to these vendors,” she said.

aquino noted that the company plans to engage in similar discussions with non-major vendors to achieve similar results.

“We have the entire 2023 to finish discussion with other vendors. The outcome will be reflected in the financials of 2023,” she said.

To recall, the company announced in the fourth quarter of 2022 that it incurred P48 billion in “budget overrun.” it has since conducted a forensics review of the transactions in question. The review has been “substantially” completed.

“The review, which was conducted by external counsel with the assistance of accounting and audit consultants, focused on the period 20192022 and identified no evidence of fraud, intentional concealment, or bad faith conduct on the part of any employee of the company and no basis to restate the company’s historical financial statements,” she said.

The budget overrun was primarily driven by multiyear projects since 2019, aquino said.

it ’s roughly because of the huge multiyear projects that we embarked into during that period 2019 to 2022,” she said.

a s a result of the incident, PldT officers that were in question had to take an indefinite leave of absence to give way to the forensics exam.

When asked when officers on leave will be asked to report back to their offices, PldT Chairman Manuel v Pangilinan said the company will announce their status “tomorrow (March 24).”

“We have been, for the past five or so months, trying to solve this issue of this capex. The persons in question are still on leave, i think tomorrow we will try to address the question of the status. now that we put 80 percent of this issue, we will address those issues,” he said.

Financial results

ThE budget overrun had a huge

effect on the company’s financial results. PldT saw its profits plunging by 60 percent to P10.49 billion in 2022 from P26.37 billion the year prior, no thanks to the “accelerated depreciation” that it booked last year, referring to the capex issue.

its telco core income, meanwhile, was 10 percent higher to P33.12 billion from P30.23 billion the year prior, as the company recorded a 6-percent rise in total revenues to P205.25 billion from P193.26 billion. individual service revenues accounted for the lion’s share of the revenue pie at P82 billion, which is 5 percent lower than the P86.2 billion.

The company’s home business, meanwhile, was its best performing segment at 20 percent revenue growth to P57.4 billion, followed by the enterprise vertical, which booked P47.5 billion in revenues.

international and carrier business remains the least performing of all the verticals, booking a 23-percent drop in revenues to P3.1 billion from P4.1 billion.

The telco group’s expenses ballooned by 38 percent to P210.75 billion from P152.50 billion, mainly driven by higher depreciation costs.

Pangilinan said he expects the capex overspend to continue to have an effect for the 2023 full year results of PldT, but said this will have a smaller effect versus the year prior.

“There’s likely to be [an effect], but not at the same quantum that we saw in 2022. The level of outstanding commitments that we reduced from P48 billion to P33 billion. This is part of an overall clean up. These are writing down or writing off existing assets that are either obsolete or no longer in use,” he said.

These clean ups, Pangilinan noted, unveils “that the purchase orders we have now are those that PldT really needs.”

For 2023, Pangilinan said the

Ovialand files for maiden share sale

Ovialand inc., a socialized housing developer, hopes to raise as much as P2.21 billion from its initial public offering (iPO).

The company said it has filed paperwork for its iPO with regulators. in its registration statement, Ovialand said it plans to offer 336 million primary common shares, up to 24 million in secondary common shares and an over-allotment option of up to 36 million secondary common shares. The offer could reach up to P5.60 per share.

The offer period is set for the week of June 19. SB Capital investment Corp. has been picked as the sole issue manager, lead underwriter and sole book runner for the iPO.

“Our public listing marks a new chapter in our history, as this is a launchpad for us to achieve greater milestones in providing the Premier Family l i ving experience to our customers,” Pammy Olivares-vital, the company’s president and CEO of Ovialand, said. “a s we aim to ex-

QU iC K service restaurant (QSR) Mc d o nald’s Philippines said it achieved “record-breaking sales” in 2022, surpassing its pre-pandemic sales performance in 2019. “Mcdonald’s Philippines’s strong

pand our presence beyond the core markets we operate in, this iPO will be key to us in meeting our clients’ ever-evolving needs,” she said.

Ovialand plans to use the net proceeds from the offering for land banking initiatives in l a guna and in Bulacan, development of pipeline real estate projects in l a guna, Batangas, Quezon and Bulacan and for other general corporate purposes

“The concept of premier family living is about making the dream of homeownership accessible to all Filipinos—whether it be building homes sold at accessible price points or assisting clients in all stages of the homebuying process,” vital said.

“This concept is central to Ovialand’s operations and as such, this iPO serves to strengthen the company’s commitment towards helping more Filipinos achieve that dream in the years to come.”

The company said its net profits last year reached P227 million, a 37 percent increase from the previous

performance in 2022 wouldn’t have been possible if not for the trust and continuous support of our customers all over the country.

a s we aim to consistently improve how we serve Mcdonald’s favorites to every Filipino, we are equally com-

company expects service revenues to grow “in the mid single digit range.”

“We anticipate that we’ll have better guidance numbers by the time we announce first quarter results. it is likely to be better than the P33 billion reported, that is our sense. how much higher we can’t say with some level of precision,” he said.

The company also reduced its capex range for 2023 to P80 billionP85 billion from P96 billion in 2022, as it starts to focus on freeing its cash flow.

it plans to raise as much has P19 billion in local financing to bankroll the capex, complemented by the gains that it will post from the sale of its tower assets.

now that the dust has seemingly settled and the company has resolved 80 percent of its capex spend mess, Pangilinan said he feels relieved and is determined to show investors and the public that PldT will remain to be healthy.

Continued on B2

B1

San Miguel saved 34B liters of water–Ang

COnglOMER aTE San Miguel Corp. (SMC) said its businesses collectively saved some 33.86 billion liters of water from 2017 to 2022, equivalent to the annual consumption of over 94,000 households, or the monthly use of over 1.129 million families.

The water savings, which it reported on World Water day, represent a 21 percent reduction in the use of water across the larger conglomerate. This includes Petron Corp., San Miguel global Power, San Miguel Foods, San Miguel Brewery inc., ginebra San Miguel inc., San Miguel Yamamura Packaging Corp., northern Cement, SMC infrastructure and San Miguel Properties inc.

“Water issues have always been a priority for San Miguel, especially since much of our operations and all our communities, depend on access to water. This is why we have not let up on our efforts to continuously increase water savings at our facilities across the whole San Miguel group,” San Miguel President and CEO Ramon S. a ng said.

Petron topped the list with the most water savings, accounting for over 17 billion liters saved throughout the six-year period, due largely to its use of water desalination tech-

nology, which enables the safe and sustainable use of seawater for cooling facilities at its state-of-the-art refinery in limay, Bataan. For 2022, Petron was also the top performer, saving 2.08 billion liters of water, followed by San Miguel global Power at 1.5 billion liters. ginebra and San Miguel Packaging came in third and fourth with 1.1 billion liters and 1.03 billion liters, respectively. a ng said that through its established Water Council, made up of water and technical experts across its different businesses, programs and innovations in support of water recycling and reuse have now become commonplace at all its installations.

For example, San Miguel’s newer plants are constructed with built-in rainwater harvesting facilities. Older facilities meanwhile invest to put up rainwater catchment and collection systems.

For 2022, San Miguel said it collected and used some 473.86 million liters of rainwater, a significant jump from 114.36 liters saved in 2021.

The use of recycled water for various processes across the different SMC businesses was significantly higher, topping out at 1.46 billion liters in 2022 from 1.08 billion liters in 2021. VG Cabuag

year’s P166 million, and a three-fold increase from P76 million in 2020.

Revenues grew 64 percent yearon-year to P1.4 billion, and Ovialand said it has grown its revenues by four times in the past three years on the back of rising demand for its projects.

Revenues of the company are based on houses turned over and with financing taken out from partner institutions.

Ovialand continued to invest in growing its portfolio as its total assets grew to P1.6 billion in 2022 from P1.1 billion in 2021.

“We are on track with our fiveyear growth strategy that was launched in 2021. Our strategy involves a regional growth approach,” vital said.

“l ast year, we began our entry to the Bulacan region that will cater to the northern Metro Manila market. We continue to be bullish with our growth so that we can support the demand for premium quality housing at an affordable price point for our growing economy.” VG Cabuag

mitted to providing feel-good experiences to our people [crew and managers] who make it all happen in our stores, and in communities where we operate for many years to come,” Mcdonald’s Philippines President and CEO Kenneth Yang said. Roderick L. Abad

PLDT Inc. has so far reduced its P48-billion budget overrun by a third, after executing a settlement and mutual release program that cuts its outstanding purchase orders from vendors.

McDonald’s PHL ‘22 sales breach pre-Covid levels

BDO deposit rating stays at ‘Baa2’

MOODY’S Investor Service (Moody’s) has affirmed the “Baa2” local and foreign deposit rating for the country’s largest bank, BDO Unibank Inc. (BDO) on the back of expectations that it will benefit from the country’s pandemic recovery.

In a statement, Moody’s said it affirmed BDO’s Baa2/P-2 longterm (LT) and short-term (ST) local and foreign currency bank deposit ratings as well as Baa2 foreign currency senior unsecured rating.

The credit watchdog also said BDO’s “(P)Baa2/(P)P-2” foreign currency senior unsecured medium-term note (MTN) and other ST program ratings, and “baa2” Baseline Credit Assessment (BCA) and “adjusted BCA” were also affirmed.

“The affirmation of BDO’s ‘Baa2’ deposit and senior unsecured debt ratings reflects the bank’s stabilizing asset quality, strong capital and adequate profitability. Funding will remain a key credit strength, underpinned by its extensive deposit franchise as the largest Philippine bank by deposits,” Moody’s said. “BDO’s asset quality should continue to benefit from the strong post-pandemic economic recovery in the Philippines.”

The ratings agency, however, noted that BDO’s gross non-performing loans (NPL) ratio at the end of 2022 declined to 2 percent from 2.9 percent last year while other asset quality indicators such as “net NPL formation” and “stage-2 loans ratio” improved.

The bank’s problem loan coverage was 138 percent as of the end of 2022, which is at a strong level, Moody’s said. However, it noted that the bank’s credit concentration to large domestic corporates, a structural feature of the Philippine banking system, remains a key asset risk.

The credit watcher also expects the bank’s profitability to remain stable over the next 12-18 months, driven by a stable net interest margin.

Moody’s also expects the bank to benefit from a flight to quality during periods of market stress. BDO’s credit strength is also expected to remain stable over the next 12-18 months.

BSO reported total assets of P4.1 trillion as of December 31, 2022. Cai U. Ordinario

‘Prexy power over PhilHealth perilous’

By Cai U. Ordinario @caiordinario

AER said while they recognize the need to suspend PhilHealth premium increases during calamities and national emergencies, this should be accompanied by well-defined conditions and parameters. Without clear guidelines, this

may be abused and allow arbitrariness in making decisions on premium hikes. This could have “devastating consequences on our health system and the economy.”

“Invoking a nebulous concept

of ‘public interest’ as an excuse to suspend or prolong premium payments deceives,” a statement by the organization read. “This will reduce the provision of health goods and services and at the same will increase the out-of-expenses for health care, especially among the lower-income groups.”

The AER appealed to the Senate to reject House Bill (HB) 6772 that, the organization believes, could “aggravate” the country’s fiscal position. If there are no increases in premiums, the government could incur more debt and resort to greater deficit spending.

“We appeal to the Senate to reject House Bill 6772 in its current form. The passage of this bill endangers the steady financing of PhilHealth, which in turn can

Strategic transformation: Playing to win

IWAS researching on strategic transformation and found this article from Emeritus, an organization that specializes in making accessible and affordable high-quality education by collaborating with top-tier universities worldwide.

The article, “Everything You Need to Know About Strategic Transformation,” provided me with a simple definition and context, together with a separate case study by Prof. Roger Martin, former chairman of Tennis Canada (TC), the governing body of the sport, which did a strategic transformation a decade ago and is now reaping the fruits from its success.

A true strategic transformation is not limited to isolated or cosmetic changes to a single product or operational strategy but involves reimagining and reconfiguring the way an enterprise operates across the entire organization and bringing all employees along for the journey.

Strategic transformation can take many forms and may include digital transformation, marketing transformation, leadership transformation, sustainability transformation and business strategy transformation, among others. It is in the last form, i.e., business strategy transformation that TC undertook using these five key strategy questions which associations may use in their own context:

1. What is your winning aspiration?

TC set out the goal of becoming a leading tennis nation which meant

Association World

Octavio Peralta

always having players ranked in the top 50 men’s and women’s singles world rankings, being part of the elite world groups in the Davis and Fed Cups, and winning a gra nd Slam tournament.

It is important for an organization to be focused and to work towards its aspiration at all times. Only with a clear and specific vision will it be able to move towards its goal.

2. Where to play?

TC focused on the very hardest game: singles, the most important market in international tennis. It also chose to identify and develop talent in an organized fashion at a young age (8 years old to 9 years old) rather than waiting until a later age.

Knowing your market inside and out is a great asset for an organization. Don’t expend energy on markets or competition that doesn’t precisely fit with your vision.

3. How to win?

TC has two major thrusts for winning. One was to benchmark and adopt select practices of successful organizations and another was to get the highest possible funding to funnel the resources to high performance tennis.

Similarly, associations can seek out best-performing counterparts for insights and inputs and generate funding to achieve success.

4. What capabilities must be in place?

It was clear that great coaching and a modified national tennis center were needed.

TC spent money on its best chances of success, rather than saving money by focusing on cheaper but more mediocre options. As a result, its ROI (return on investment) improved.

5. What are the management systems?

TC developed a unique development path and criteria that players had to achieve to gain and maintain funding which enable it to focus its very limited resources on the players with the brightest future.

Organizations undertake strategic business transformations in response to significant and sustained pressures from the market, the process of which may involve pivoting products, services, or offerings, or realigning how it does business to maximize consumer satisfaction and shareholder returns. TC has definitely built a sustainable platform for success. And like any organization that effectively competes for success, TC continues to play to win.

Octavio Peralta is currently the executive director of the UN Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” E-mail: bobby@pcaae.org.

Hedge funds as dollar bulls at wrong time

HED g E funds couldn’t have picked a worse time to turn bullish on the dollar.

After betting against the greenback for 13 straight weeks, speculators flipped to a net long position in the week ended March 14, according to data from the Commodity Futures Trading Commission. The shift came days just before the Federal Reserve tempered its language around how much additional policy tightening might be needed, sending the dollar sliding.

“Many, including some hedge funds, have been caught out by the lack of the dollar safe-haven bid amid the US regional bank woes,” said Rodrigo Catril, a senior currency strategist at National Australia Bank Ltd. in Sydney. “Expectations of Fed easing are trumping other forces” and dampening the dollar’s outlook, he added.

Forecasting the dollar’s moves has become an increasingly tricky task as turmoil in the global banking sector complicates the Fed’s attempts to tame elevated price pressures. Treasury yields have whipsawed in recent sessions, highlighting the fast-changing bets on the US rate-hike outlook.

The Bloomberg Dollar Spot Index tumbled as much as 0.9 percent Wednesday after the Fed tweaked its language around the outlook even as it signaled more tightening may follow its latest

quarter-point hike. The gauge slipped 0.4 percent Thursday, with traders boosting bets on rate cuts for this year.

The greenback has lost ground against all but one of its group-of-10 peers this week, and strategists expect the weakness to persist. T. Rowe Price sees the dollar declining as the rate gap between the Fed and some of its biggest peers shrinks, while Commonwealth Bank of Australia’s Carol Kong predicts support for the pound as UK inflation remains elevated.

The euro hit a 1 1/2-month high on Thursday, while the risk-sensitive currencies of New Zealand and Australia both rose as much as around 1 percent against the dollar. In Asian trading, the South Korean won led gains, advancing more than 2 percent against the greenback.

“The Fed’s ‘dovish hike’ should clear the way for broad dollar weakness over the coming days and weeks, provided market turmoil and liquidity issues continue to subside,” Wells Fargo & Co. strategists including Mike Schumacher wrote in a note. “Support from relative real rates and economic performance is likely to wane over the coming period, particularly within a backdrop of credit tightening.”

Renewed rout

BUT some strategists say the dollar

briefs

yet stage a comeback. The greenback remains the preferred haven in times of stress as demonstrated by the rush to the world’s reserve currency at the height of pandemic fears in March 2020. The US currency also rose 0.9 percent last Wednesday as jitters surrounding Credit Suisse group Ag convulsed markets.

“A renewed rout in US banking stocks, especially to the extent that it impacts the flagship names, will likely keep risk conditions on a tentative footing which should continue to support the dollar on a tactical basis,” Simon Harvey, strategist at Monex Europe, wrote in a note.

Even so, a growing number of market participants believe that the dollar’s strength has probably peaked.

Despite the Fed’s rate hike on Wednesday, the US central bank’s rhetoric was noticeably more dovish compared to the European Central Bank and that should help the euro climb more than 5 percent to around $1.15 by year-end, according to INg groep NV.

US “rate cuts in the second half 2023 remains our call,” INg strategists including Francesco Pesole wrote in a note. With risk sentiment improving as panic around the banking crisis eases, the dollar has been “left without a floor.” Bloomberg News

negatively affect the lives of millions,” AER said.

Influenced by politics

THE AER explained that “the premium contributions provide more Filipinos with access to life-saving healthcare services.”

However, the organization of economists said that “allowing the suspension of PhilHealth premium hikes to be influenced by politics will only move us further away from our dream of Universal Health Care (UHC) for all Filipinos.”

On March 21, 2023, the House of Representatives voted in favor of HB 6772 on its third and final reading. This bill grants the President of the Philippines the power to suspend and adjust the increase in premium rates for direct contributors of the Philip-

pine Health Insurance Corporation (PhilHealth).

The lawmakers, through the bill, gives power to the president to suspend premium hikes during “national emergencies or calamities, or when public interest so requires.”

The AER noted that data from the Department of Health (DOH) showed that in the medium term, there is still a funding gap of at least P163.6 billion for the DOH-OSEC and PhilHealth to meet the funding requirements for the Universal Health Care (UHC) Law (Republic Act 11223).

This funding gap will only widen further if PhilHealth premiums do not increase in the next few years, consequently delaying the full implementation of the UHC, the AER said.

LandBank funds Ilagan City infra projects via ₧3.5-B loan

By Raadee S. Sausa

THE Land Bank of the Philippines (LandBank) announced it has financed the major infrastructure projects of the Ilagan City local government worth P3.5 billion (about $55.244 million at current exchange rates).

The state-run lender said it and the local government “maintain a strong partnership geared toward the development” of Ilagan City, a first-class component city and capital of the province of Isabela.

“LandBank really helped us a lot,” Mayor Josemarie L. Diaz was quoted in a statement issued by the Landbank as saying. “Almost all the improvements in Ilagan City are due to our collaboration with LandBank.”

According to the lender, LandBank financed the construction of four essential bridges in the city, including the Baculud Overflow Bridge in Barangay Baculud and the Cabisera 8 Overflow Bridge in Barangay Santa Maria.

“These two overflow bridges significantly increased the mobility of Ilagueños, who previously used boats and bamboo rafts to travel across rivers to reach other parts of the city,” the Landbank statement read.

It claims that the bridges improved the access of residents from remote barangays to basic and support services, such as to the local hospital and public market.

The state-run lender added it also financed the concreting of road networks in the city to “enhance the connectivity” between its 91 barangays. The Landbank said this road network is 90-percent completed as of end-January.

“Built with street lamps and concrete drainage, the concrete road network has

➜ PDIC bags P1.46B via asset disposal

THE Philippine Deposit Insurance Corp. generated P1.46 billion in total sales from 216 corporate and closed bank assets sold in 2022 as part of its asset disposal initiatives for corporate and closed bank assets. Total sales were higher by P30.9 million or 2.2 percent than the sold properties’ aggregate minimum disposal price of P1.43 billion. Sale proceeds were also 327 percent more than the P341.6 million sale made in 2021 through public biddings and negotiated sales. Sold assets comprised 182 residential lots, 18 commercial lots, 15 agricultural lots and one memorial lot. Of the total, 155 were owned by closed banks while 61 were acquired assets of the PDIC.

➜ LandBank, Filinvest eye projects

EXECUTIVES of the Land Bank of the Philippines (Landbank) and the Filinvest Group of Companies (Filinvest) recently discussed various potential collaboration projects for the conglomerate’s business ventures in real estate, power and energy, hospitality and sugar production, a statement from Landbank said.

Landbank President and CEO Cecilia C. Borromeo and FDC President and CEO Lourdes Josephine Gotianun-Yap led the exploratory meeting at the Landbank Plaza, for funding FGC’s real estate businesses under the Filinvest Land Investment, among its 18 other corporations. Funding requirements were also discussed to support Filinvest’s water desalination project in Cebu and the expansion of its hotel operations, Landbank said.

➜ GSIS opens new branch

THE Government Service Insurance System (GSIS) announced it has inaugurated its new branch at the newly-constructed office building in Tagum branch along National Highway (corner Purok Pioneer), Tagum City, Davao Del Norte last March 17. The 2-story office offers convenience and accessibility to more than 47,000

made transportation safer and more efficient even in remote areas, especially for farmers who previously struggled to transport their agricultural produce to the market,” the LandBank’s statement read.

The lender said it also supports the LgU ’s priority projects for healthcare and public services like the City of Ilagan Medical Center (CIMC).

From having a small infirmary, the 100bed CIMC now provides advanced medical services, such as endoscopy, radiology and hemodialysis.

The hospital has already received three International Standardization Organization (ISO) Certifications for Quality Management System, Environment Management System and Occupational Health and Management System.

The LandBank said it also financed the construction of the then-Ilagan Municipal Hall (now a City Hall) and multi-purpose barangay halls in the city.

Other projects of the LgU backed by the bank include a sanitary landfill for sustainable waste disposal, a new public market that serves as a central hub for vendors and daycare centers.

Furthermore, the loan will also be utilized for the expansion of the Ilagan City Hotel and Convention Center, as well as the establishment of CIMC’s Contagious Disease building.

The loan is also expected to fund the construction of a public market building in Barangay Hacienda San Antonio and a center with cold storage for agricultural products in Barangay Marana 1st. The lender didn’t say when these projects would commence.

The local government’s assets grew from P700 million in 2007 to P7 billion in 2022, according to LandBank.

members and pensioners from Davao del Norte, Davao de Oro and Davao Oriental. The GSIS said its Tagum branch serves 39,222 members, 8,122 pensioners, 147 remitting agencies and 200 sub-agencies. The new site will become even more accessible to clients as Tagum City is poised to be the new center of Davao Region as the local government is working toward becoming a “highly urbanized” city by 2025.

➜ BMAP shares plans with Medalla

THE Bank Marketing Association of the Philippines 2023

Officers and Board of Directors met with the Bangko Sentral ng Pilipinas Governor Felipe M. Medalla for their oathtaking and courtesy call at the BSP Complex in Manila. In a meeting, the BMAP officers shared its plans and ongoing programs and assured the BSP of its continuing support to strengthen and promote the industry welfare and interests of the banking public. Areas of collaboration were also discussed to further strengthen their longstanding partnership. The BMAP and the BSP jointly promote financial education and inclusion among Filipinos through various programs. The BSP, BMAP and the Bankers Association of the Philippines have also been working together to raise awareness on cybersecurity.

➜ Citigroup’s PHL office awarded CITIGROUP S Philippines branch announced last March 16 it was recognized as “The Best Bank for Sustainable Finance” by the Singapore-based Asset Publishing & Research Ltd., organizer of the “2022 The Asset Triple A Awards.” This is the 17th consecutive year that Citi Philippines has won this top honor, it said. The recognition is one of the industry’s most prestigious awards for banking, finance, treasury and the capital markets, Citi Philippines said. IT added it was also recognized in two additional categories, winning “Best Sustainability Bond for the Republic of the Philippines” and “Best Social Loan for Home Credit Philippines.”

EMERGENCY powers granted to the President to suspend PhilHealth premium increases may pose a danger to public health, according to local economists at the Action for Economic Reforms (AER).

Good neighbors

EVERYDAY, for the past five years or so, whenever I’d head out of our three-story apartment building’s tiny gate in a rush, I’d try not to slam into the neighbor’s maroon van parked on the street, along our sidewalk. I honestly don’t know who even owns it, but it’s always been sitting there, that I eventually used it as a landmark for delivery riders (“Kuya, so and so address, x colored gate, with a maroony-brand van parked outside”).

But it’s not just this van that blocks our gateway; there’s usually a line of other parked vehicles outside my other neighbors’ homes and apartments as well. And when that happens, we all have to walk along the sidewalk until the very end of that line of vehicles, just to get out to the main road to either hail a tricycle or cab, or, in my case, wait for my Grab car.

Under the 18th Congress, Senator Sherwin Gatchalian filed Senate Bill 368, or the Proof-ofParking Space Act, which forces a car buyer to execute an affidavit to prove that he has a garage or a leased parking space before he is able to register his vehicle at the Land Transportation Office. Suffice to say, that bill was not passed, only reaching a second hearing in the Senate. Gatchalian ought to revive this bill.

Fortunately last August, former House Speaker and Marinduque Rep. Lord Allan Velasco filed House Bill 31, or the No Garage, No Registration Act. What Gatchalian’s proposed legislation lacked, Velasco’s bill provides, such as stiff penalties for the vehicle owner and LTO officer who processed the registration despite the presentation of fake documents showing proof of parking space. Among the penalties are a fine of P50,000 and the suspension of the car owner from registering his vehicle for three years. The LTO officer who colluded with the vehicle owner will be suspended from his office for three months, without pay.

Velasco’s bill likewise enjoined citizens to report illegally parked vehicles to government authorities. This time, I hope Velasco’s bill is passed; we just have way too many vehicles in the metropolis, most of them contributing to our worsening air quality. Pulmonologists will be able attest to the increasing number of Filipinos now suffering from adult-onset asthma due to the poor quality of the air we breathe. To be honest, I am one of them. I don’t smoke (well, not anymore for the longest time), have never had

asthma as a child, but now suffer from the pulmonary condition. But I do understand the need for a vehicle to move about, of course. You can leave your home (or office) on your own time, having enough space for family or friends, and taking along the daily junk you need to operate at optimal conditions everyday. I’d probably own one if I liked driving and didn’t feel that taking care of my car, paying for its registration and renewing my license, or looking for a parking space were too much of a nuisance.

Owning a motor vehicle these days has become almost a necessity considering the state of our public transport system. Why suffer the agony of waiting in queues for hours just to squeeze into an MRT train or a public bus, sniffing all sorts of earthly aromas emanating from fellow passengers or listening to onesided conversations of people on their mobile phones, when you can sit it out in traffic, cooled by your car’s airconditioning system, listening to your favorite tunes or chatting with your carpooling friends?

But just because it’s more convenient for you to own a vehicle, it doesn’t mean it’s convenient to your neighbors, especially if you don’t have a garage. It’s bad enough that many car owners don’t even bother to ask permission from their neighbors to allow them to park in front of the latter’s gates or driveways. (There was even a time when my neighbor thought it a brilliant move to drive up half of his van and park this right on my sidewalk, with the other half on the road. It was during the pandemic that our barangay officials decided to impose the one-side parking system. I suppose Mr. Genius thought that by keeping half of his van on the sidewalk, this didn’t constitute a full

Project to benefit local gymnasts

ON March 17, 2023, the Embassy of Japan held a “Grassroots Assistance Handover Ceremony for the Project for Improvement of Training Environment of Philippines Gymnastics Association” with the Gymnastics Association of the Philippines (GAP) at the Gymnastics Area, Rizal Memorial Sports Complex in the City of Manila.

The Government of Japan donated Japanese gymnastics equipment through the Grassroots Cultural Grant Assistance Scheme to support the GAP’s plan to open a training facility for future gymnasts.

TODAY’S HOROSCOPE By

Eugenia Last

CELEBRITIES BORN ON THIS

Amanda Brugel, 45; Peyton Manning, 47; Alyson Hannigan, 49; Jim Parsons, 50.

HAPPY BIRTHDAY: Don’t procrastinate when there is so much to do and so little time to finish what you start. Be thorough in your decisions of what to keep and what to discard. Take less time to think and more to act, and what you accomplish this year will carry you to a place that makes you feel comfortable.

Your numbers are 3, 10, 17, 26, 33, 37, 49.

ARIES (March 21-April 19): Sign up for something that makes you proud and grateful. Get involved, take your place and make a statement. Be the guiding light for others and instigate what you want to happen. ★★★

TAURUS (April 20-May 20): Make the changes that will improve your life and point you in a direction that brings you the joy and contacts you need to feel good about yourself and the world around you. Participate in what matters and see what happens. ★★★

GEMINI (May 21-June 20): You’re on the right path; now join forces with like-minded people and see how powerful of a statement you make. Don’t hide in the background; make your mark, be proud of who you are and influence others to put their best foot forward.

★★★

parking space on the road and wasn’t in violation of the barangay’s rule.)

While Velasco tries to reclaim our roads, Pangasinan Rep. Ramon Juico is also trying to reclaim our sidewalks as he filed last August House Bill No. 1252, or the proposed Unobstructed Sidewalks Act. I don’t know how far along this proposed legislation has gone, but I look forward to its passage as well. You see, I’ve been on a semi-semi health kick since December, working on my steps, and supplementing this with my yoga practice at home. But in striving to reach my 10,000-steps target every other day, I have to walk along our barangay’s roads, always in danger of being mowed down by passing vehicles, because our sidewalks host benches, potted plants, cast-off tires, parked motorbikes, and even extended garages. Juico’s bill prohibits “activities that obstruct the free passage of people on sidewalks, unless otherwise authorized by law,” and proposes penalties from P10,000 to P30,000, or imprisonment of six months to a year for violators. Local officials who also don’t implement the measure has to answer administrative charges under the Local Government Code and fined anywhere between P100,000 and P500,000. Good neighborly conduct shouldn’t be legislated. We should treat everyone in our community in the same manner we want to be treated. It’s all about respecting each other’s personal spaces, asking our neighbor’s permission to if we need to encroach on their space, or apologizing if our actions violate said spaces, and addressing issues with our neighbor directly and discussing these matters in a

The aim of the facility is to produce gymnasts who will represent the Philippines in the future. At the same time, the facility is not just for top athletes but also aims to provide an opportunity for many children to experience the joy of sports through gymnastics.

Ambassador Koshikawa Kazuhiko, GAP president Cynthia Carrion, former president and senior deputy speaker of the House of Representatives Gloria Macapagal-Arroyo, Rep. and Youth and Sports Development Committee chairman Faustino Michael Carlos T. Dy III, world-class gymnast Carlos

Yulo, coach Kugimiya Munehiro, Philippine Sports Commission (PSC) commissioner Walter Torres, Japan Gymnastics Association acting secretary general Nishimura Kenji, and Philippine Olympic Committee (POC) deputy secretary general Carl Sambrano graced the ceremony with their presence.

Ambassador Koshikawa expressed his sincere respect for the leadership and passion of GAP President Carrion and Coach Kugimiya in making this facility a reality. The ambassador also expressed his gratitude to the PSC for providing a portion of the

Rizal Memorial Sports Complex for the grassroots gymnastics facility. He shared Japan’s hopes for the training facility to contribute to the development of sports in the Philippines, especially in enabling the discovery and nurturing of the next generation of Filipino gymnasts.

World-class gymnast Yulo, presently the most recognizable figure in Philippine gymnastics, spearheaded his career through the mentorship of Coach Kugimiya.

Both Yulo and Coach Kugimiya aim to represent the Philippines at the 2024 Paris Olympics.

‘topped

CANCER (June 21-July 22): Silence is golden when you don’t have anything but criticism to offer. Look for the good in yourself and those around you. Encouragement is the best way to get things done and to get along with others. Choose to help, not control. ★★★★

LEO (July 23-Aug. 22): Don’t overestimate what you know when there is plenty to learn. Open your mind and dive into available knowledge, and you’ll gain a different perspective and angle regarding what you can and will do next. Let go of the nonsense. ★★

VIRGO (Aug. 23-Sept. 22): You are in a position to improve your life. Travel, meetings and personal growth are all possible if you take the path that will help you connect with the people who can help you reach your goal. Romance will improve your life. ★★★★★

LIBRA (Sept. 23-Oct. 22): Be practical, and you’ll discover how to gain financial freedom and ease stress. Take better care of what and who matters to you. Look for opportunities, projects and proposals that will give you the mental and physical boosts you need to achieve peace. ★★★

SCORPIO (Oct. 23-Nov. 21): Use your imagination and make home improvements that will promote efficiency and peace of mind. A change of plans someone makes will make you question some of your connections and redesign how you do things in the future. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Search and devise a plan to make your home and lifestyle more convenient and cost-efficient. Refuse to argue with someone too stubborn to see things your way. Discard what isn’t working for you anymore. ★★★

CAPRICORN (Dec. 22-Jan. 19): Don’t start something you cannot finish. Be a good listener, think matters through and do what’s best for everyone. Build your home on love, compromise and compassion. Your actions will rub off on those you deal with daily. Love is on the rise. ★★★★★

AQUARIUS (Jan. 20-Feb. 18): Keep your eyes on what matters. Dismiss whatever is in your way. Having a clear passage forward will encourage drive and initiative to reach your mark and outperform anyone trying to compete. Protect your home and meaningful relationships. ★★

PISCES (Feb. 19-March 20): Consider what you enjoy doing and turn it into something lucrative. How you go about achieving your dreams will make a difference. Be open to suggestions, verify information and implement change that puts a smile on your face. Romance is featured.

BIRTHDAY BABY:

You are intelligent, ambitious and persistent. You are sensitive and loving.

GMA le Ads PHl continGent to 2023 new York FestivAls t v & FilM AwArds

MEDIA giant GMA Network is set to represent the Philippines at the 2023 New York Festivals TV & Film (NYF) Awards with nine entries making it to the short-listed candidates, again earning the most number of nominees for the country.

Spanning three decades of blazing the trail in producing compelling stories, GMA Public Affairs leads the network’s contingent with eight entries, while GMA Entertainment cements its world-class programming with the primetime masterpiece Maria Clara at Ibarra.

The 2022 NYF Gold World Medal awardee The Atom Araullo Specials is gunning for another win this year with two entries. “Mata sa Dilim [Eye in the Dark],” Atom Araullo’s documentary on the online sexual exploitation of children, was shortlisted under Documentary: Social Issues. “Ang Nawawala [The Missing],” which chronicles missing persons and their loved ones’ heartbreaking search, is also nominated under the Documentary: Human Concerns category. Also earning double nominations is 2022 NYF Bronze winner Kapuso Mo, Jessica Soho (KMJS), hosted by multiawarded GMA Public Affairs host Jessica Soho. KMJS is short-listed for “Onse [Eleven]” and “Sugat ng Pangungulila [Wounds of Woes]” under the Documentary: Human Concerns and Documentary: Health/Medical Information categories, respectively. “Onse” tells the story of a teenager who thought her growing stomach was a tumor but she turned out to be pregnant, while “Sugat ng Pangungulila” is about a 14-year-old boy suffering from wounds all over his body that was discovered to be lamellar ichthyosis.

Nine-time World Medalist Reporter’s Notebook, hosted by Maki Pulido and Jun Veneracion, returns to the NYF stage with its entry “Baha to School [Our School is Sinking]” nominated under the Documentary: Community Portraits category. The said episode narrates the story of students who had to trek through floods to go to school in the Philippines.

Long-running public affairs program I-Witness earns another short-list nod this year with Atom’s documentary “Ang Langaw na Hindi Binubugaw [Black Soldier Fly].” The story about the black soldier flies and their benefits is nominated under the Documentary: Science & Technology category.

Environment and wildlife show Born to be Wild is nominated for “Primate Planet” under the Documentary: Environment & Ecology category. In the special, Doc Ferds Recio and Doc Nielsen Donato enable viewers to learn more about the life of primates in Banton, Romblon and in New Israel Makilala, North Cotabato.

Completing the list of GMA Public Affairs entries is “Runaway Child Brides: Ang Kuwento ng mga Tumakas sa Buya [Stories of Escape from the Manobos’ Buya],” which made it to the Documentary: Cultural Issues shortlist. The documentary by Lilian Tiburcio, produced by GMA Public Affairs and GMA Digital Lab’s online newscast Stand for Truth, tackles arranged marriages or a tradition called “buya” among Manobo tribe.

After making waves on-air and online, GMA’s groundbreaking historical fantasy series Maria Clara at Ibarra looks to raise the Philippine flag globally as it earned a short-list nomination under the Entertainment Program: Drama category. The highly successful series was headlined by 2016 Fantasporto International Best Actress Barbie Forteza as Klay, Julie Anne San Jose as Maria Clara, and Dennis Trillo as Ibarra.

At the 2022 New York Festivals, GMA was the sole Philippine awardee and gave the country four World Medals.

‘The Banshees of Inisherin’: A mad, sad folk tale of friendship

THE tale begins with a land opening right onto the sea and a man walking past meadows. He is Pádraic. He becomes a shadow as we trail him. He reaches a house, the walls washed white. He pets a dog. He knocks. No one answers. He looks into the window and sees the man whose name he is calling. That is Colm. They are friends until the knocking on the door. Well, the knocking is not the reason why their friendship has ended. There is a deeper reason. Colm has stopped liking Pádraic. It is a reason that borders on madness. It is also an original mode of breaking away from a relationship. Untried. That makes the reason deep.

Pádraic does not believe Colm refuses to talk to him anymore. He leaves his friend’s home and goes back to his place, where his sister, Siobhán, is surprised he is back too soon. Pádraic tells Siobhán what has recently occurred.

Pádraic returns to his friend’s home, finds the door open, and goes inside. A gramophone is playing a song, the voice of a tenor rising above the empty place. He moves around and, as he reaches another window, he sees the figure of a hulking man, walking away. Pádraic follows Colm and he knows where his friend is going—to the pub. In there, Pádraic finds out his friend would not even sit beside him. Colm steps out.

Where is Colm going? And where is this friendship bound to be? Herein is that conversation.

“You do like me? I don’t. You liked me yesterday.”

We are confronted by this dialogue where one friend confesses his dislike of his old friend. For the next few minutes, we think somewhere there is a prank, that Colm is teasing his friend. That there will be loud laughter to follow, an embrace and— once more—a friendship. Then we will feel bliss, satisfaction.

Or, we might put it this way: there is a dark secret uncovered that is so grave, it might justify the end of a friendship. Nothing of that sort happens. A man has decided he will follow a different path where his old friend does not figure in anymore. He realizes this friend is boring and has nothing to do with the loftiness of his plans—music and composing.

Who makes this kind of tale? As the film The Banshees of Inisherin will show us, only the Irish, in their isolation and grace, to the tune of their magical music, and aided by the lilt of the words in their language, can conjure this plot and bring us to experience the mysticism and dark humor of human relationships.

In the story and screenplay of Martin McDonagh, the ordinariness of the human universe is enough to engage us. In this small island, at the tailend of the civil war dividing a nation, a cluster of homes is inhabited by men and women whose versions of the

quotidian are even more vibrant than the lores we link to Ireland. In The Banshees of Inisherin, a man can vow to cut his finger if only to stop a former friend from talking to him, where donkeys are brought into one’s home to assuage one’s loneliness, and homes are burned down not out of revenge or cruelty but to bring back the equilibrium in the habitable space.

The story always has primacy in any good cinema but The Banshees of Inisherin is a diligent experience of how a chronicle can urge the actions, the epiphanies bouncing on discoveries and rediscoveries, a relentless narrative happening in a wondrous landscape where at each turn, plots and subplots— characters leading and misleading—materialize, dissipate, and re-create narratives to the bells and strings that belong to sylvan landscape than to violent confrontations (the music of Carter Burwell composes a legion of unseen elementals).

With a cinematography (Ben Davis is the director of photography) that scans the horizon for signs of distress but disclosing only an awesomeness and silent grandeur, the two main characters are left to look at each other as if they are anticipating the world before them to crumble or glow like the birth of a star, and to understand, as Arthur Miller puts it, “the lines between the lines.” To these two protagonists/antagonists, Colm and Pádraic, their interchangeability is the molten core of this tiny planet of sad human beings. As Colm, Brendan

Musicmaker returns with new sound, new look

frustration over repeated arguments in a relationship.

“The song talks about that point in the relationship where the fights are getting repetitive. It’s just the same argument over and over, and nothing gets resolved,” he shares. “It’s about whether the relationship is worth saving, or it is heading toward the end.”

SINGER Jason Dy is back with a new song. And a new look.

Based on his latest publicity photos, the former clean-cut, dapper balladeer is now channeling a more flamboyant style. Now decked in animal prints, floral accessories, flare suits and stacked heels, it’s discernible he’s copying the style of Harry Styles. But unlike Harry Styles who detangled himself from his previous boy band antics with a retro-rock sound, Jason is still rooted in R&B but tinged with a more EDM sound as evidenced on his new single “Ulit-Ulit.”

According to Jason, the song is about one’s

Jason says that he wrote the song a few years ago. With such lyrics as “Away bati, oh sandali puro na pighati/ Ang nadarama, oh pwede ba nating ibalik/Ang suyuan, pagmamahalan/‘Wag nating pahirapan/Nagmamakaawa na ‘ko sa’yo,” it’s obvious this was written during his balladeer years that, had it been given to a Martin Nievera or a Vehnee Saturno, he would’ve turned it into a soaring love song. But for “Ulit-Ulit,” Jason collaborated with fellow Star Music artist Theo Mortel, coming up with a song that should make its way to mainstream radio as it’s a pastiche of what is in most of the kids’ playlist nowadays popularized by Drake, Doja Cat, Dua Lipa and many more: discoinfluenced pop.

While there seems to be wanting in the execution of the song as it sometimes feel juvenile, you will laud the effort of how different musical elements

Gleeson has the scary heft and yet he has his temper checked always. We fear him exploding but he is possessed of a resignation that is so terrifying, he is willing to cut his fingers to prove his point. Almost clueless and dumb to a point, Colin Farrell’s Pádraic is a study of man’s natural gift for insisting that the world can be reformed by selfless intentions. To the fans, Farrell’s face has no more of that handsome recklessness; what he has is a gaze—whether he is looking out to the vastness of the sea or pondering upon the fate of friendship—that puts meaning to speciousness.

There are two disturbing women characters in the film: Kerry Condon’s Siobhán and Sheila Flitton’s Mrs. McCormick. Siobhán leaves the island for a better prospect in the mainland. That she can leave home is terrifying to patriarchy. Mrs. McCormick’s eccentric diviner can read the future and that is horror for men who believe they control destinies.

All throughout the film, the sound of guns and cannons can be heard from a distance. Is this the end of war or the beginning of another? In Inisherin, men are abandoning their friends, their rage not needing any reason. On this island, we learn how wars begin for no reason at all.

Nominated for nine categories in the Oscars, including the Best Picture and Best Actor for Colin Farrell, The Banshees of Inisherin is directed by Martin McDonagh. The film is streaming over Disney+. n

have been brought together. There is promise to this sound change and with a few tweaks here and there, Jason Dy may be heading to the right direction.

After all, “Ulit-Ulit” is just the first single and may be his bridge between his two images and two genres. And this may just be a way to ease his fans into this change. Maybe he can get a page or two from those who have successfully done a switch from wholesome teenybopper to a more mature, acclaimed artist. The master of this is, of course, former boyband member Justin Timberlake who burst into the scene years ago with an image filled with sex and a throbbing sound by Pharrell Williams to match. Others like Nick Jonas and Justin Bieber followed and have had their own share of success.

It’s obvious that Jason Dy has the voice, the looks and even a glimmer of songwriting chops, and maybe with a defined roadmap thanks to his new home in Star Music, we’ll be sticking for a while and watch out for him.

Jason Dy’s “Ulit-Ulit” is available on various music streaming platforms. For more details, follow Star Music on Facebook, Twitter, Instagram, Tiktok, and YouTube.

Accountancy profession marks its centenary in the Philippines

for under RA 10968, The Philippine Qualifications Framework Law.

Since its founding, the Board has done its best to address challenges that beset the accountancy profession.

Dr. Quiñanola identified one of the biggest challenges of the profession as “the presence of ‘notarial auditors’ who issue audit report without adhering to prescribed auditing standards.”

To address this concern, the Board implements the Quality Assurance Review (QAR) aimed to strengthen the practice and eliminate the so-called “notarial auditors.”

Enjoy an evening of ballads, jazz, inspirational songs with the Soul Sisters @ Erehwon Center for the Arts

she was part of Asia Pacific Media Films’ “Ama, Anak”, a winner of the Gideon’s Flame Award for Best Film, among other high profile film productions.

THE Board of Accountancy in collaboration with the Philippine Institute of Certified Public Accountants and other sectoral organizations celebrated the centenary of the accountancy profession in the country last March 17, 2023. It is the culmination of the year-long celebration which was launched on March 17, 2022. Organizers adopted “Celebrating the Past, Transforming the Present, Shaping the Future” as the theme of the centennial celebration.

Accounting is defined, according to Merriam Webster, as the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results. It plays an important role not only in business but in government as it enables government to monitor and control its resources in the most efficient way.

Accountancy was recognized as a profession on March 17, 1923 when the Philippine Legislature enacted Act No. 3105, also known as the Accountancy Act of 1923. With the passage of the law, Filipinos were empowered to practice accountancy in the country, a profession that was once limited to foreign accountants. The law also created the Board of Accountancy which was tasked with the regulation of the profession and is responsible for the Certified Public Accountants licensure examinations.

In 1967, the Accountancy Act of 1967 was passed. Under this legislation, only Filipinos and citizens of countries offering the same privileges to Filipinos

can become Certified Public Accountants in the Philippines. The law was later superseded by the Revised Accountancy Law of 1975. The new law stipulated that only registered Filipino CPAs are allowed to be partners in accountancy firms in the country. On May 13, 2004 Congress passed Republic Act No. 9298, the Philippine Accountancy Act of 2004, which now governs the practice of accountancy in the country.

The current Board of Accountancy is chaired by Dr. Noe G. Quiñanola, PhD.

Other members of the board are Samuel B. Padilla, Gloria T. Baysa, Thelma S. Ciudadano, Rosalinda D. Evangelista, Gervacio I. Piator, and Maria Teresita Zuñiga-Dimaculangan.

Under Dr. Quiñanola’s leadership, the Board of Accountancy follows the mandate set forth by the Philippine Accountancy Act of 2004.

“We also abide by some laws relevant to the practice of profession. We continued the programs that were introduced by virtue of the current professional regulatory law like accreditation of CPAs in public practice and those in the academe. We continuously oversee the conduct of professional development programs which are aimed at improving the knowledge and skills of Filipino CPAs. Recently, we implemented Quality Assurance Review which is an oversight activity over the quality of audit of financial statements done by public practitioners.”

He added that the Board is implementing the Career Progression and Specialization Program as provided

Like other professions regulated by the PRC, accountants are required to undertake Continuing Professional Development (CPD). This is to ensure they are updated on new developments in the field of accounting, are abreast with major developments in information technology, and compliant with new provisions required by regulatory bodies. On the present CPD program, Dr. Quiñanola believes there is always room for improvement.

“The delivery of CPD programs is not perfect. However imperfect it may be, the effectiveness of CPD programs also depends on the participant. CPD should be treated as something personal and is premised on the professional’s desire to improve his craft and not only complying with required number of units,” he said.

Another mandate of the Board is the administration of the licensure examination for CPAs. Questions given in the licensure examinations are formulated by the BOA based on subject syllabus. “It is our objective to formulate questions that will test the examinees’ knowledge and proficiency in concepts and principles related to the various areas in the examination,” Dr. Quiñanola said.

As the highlight of the centennial celebration, 100 Filipino CPAs were recognized with the Accountancy Centenary Award of Excellence in ceremonies at the Manila Hotel on March 17. They are “the Filipino CPAs who demonstrated unquestionable integrity, contributed immensely in the advancement of the accountancy profession, and participated remarkably in national development,” the Board said.

Leading fabrication company Southtech Metal Fabrication participates at PSMEX 2023 back-to-back with i-MTAP 2023

PHILIPPINE Subcon and Manufacturers Exhibition

2023 (PSMex 2023) themed as "Make it in the Philippines," a biennial exhibition that will be held from April 26 to 29, 2023, Hall B and C of World Trade Center Metro Manila.

The ultimate objective of PSMEX 2023 and I-MTAP is to provide a one-stop venue to feature business and networking opportunities, partnerships, technical education, and the dissemination of information about the best practices in the manufacturing world of the metallurgical and related industries, how we address the global world trend towards recovery.

It is an event that will cater to both local and international audience which covers whole business platform that will be beneficial to suppliers, distributors and end-users. It is an event that will showcase the capabilities of Philippine products and services to the world. It will be held back-to-back with i-MTAP 2023.

With the support and optimism of well-established and respected local and international exhibitors, PSMEX 2023 and I-MTAP 2023 will be an emerging gathering for manufacturers, suppliers, distributors and end user, as well as its related industries and expecting 10,000 visitors for the four-day event. Both entrance to the exhibition and technical seminars are for free.

During the event, Southtech Metal

Fabrication Inc will showcase their services and finished products.

Southtech Metal Fabrication provides a one stop shop solution for production requirements. Its Silang plant has the latest machines and equipment which can provide products with precise design and measurements. The company’s engineers work closely with clients to produce new designs as well as value engineering for current products.

Southtech offers fabrication and finishing services like cutting using Fiber laser, plasma cutting and turret punching; forming using press and roll forming;

EREHWON Center for the Arts is proud to present Soul Sisters at Behn Cervantes, The Roofdeck, on March 31, 2023, Friday. Enjoy the evening of ballads, jazz, and inspirational songs featuring the melodies and harmonies of seasoned performers Emlyn Olfindo-Santos and Jeanne Velasco Vicars. Show starts at 6 pm and tickets are priced at P300 per person.

Emlyn is a multi-awarded director, soprano, an actor in theater, television and film, as well as a composer who has a heart for helping people with their gift in music and voice. Voice coach Jeanne sings a variety of genres including ballads, jazz, inspirational songs and gospel music. She comes from a musical family of classical singers, choristers and choir conductors.

As a thespian and actor for theatre and television, Emyln is part of Repertory Philippines, the Dulaang UP, and the Cultural Center of the Philippines’ Tanghalang Pilipino 2011 production, “Banaag at Sikat.” She was part of the UP College of Music’s Centennial Pilipino Opera “Diwata ng Bayan.” For film,

Emlyn has been awarded the 2010 Dangal ng Pilipinas for Music Excellence as singer and composer, the 2012 University of the Philippines Alumni Association Presidential Service Awardee, the 2013 Metro Manila Film Festival for “Pedro Calungsod: Batang Martir,” the 2014 Star Awards for Best Original Theme Song “Huwarang Kabataan” and the 2016 Grand Prize for the Nationwide Theme Song Writing Contest for the Metro Manila Film Festiva Jeanne has been performing in concerts since she was a child. At the age of 9, Jeanne became part of the University of the Philippines Cherubims and Seraphims. As an on-call voice instructor at ABS-CBN Workshops and recording coach for ABS-CBN Talent Center, Jeanne was voice coach for the pre-launch of Pinoy Dream Academy’s Cebu Dorm in 2005, as well as voice coach for wellknown stars, which include Sarah Geronimo, Jennylyn Mercado, Kathryn Bernardo, Jason Fernandez, Isabelle de Leon, Carmi Martin, Jonalyn Viray, and Richard Yap. For recording, Jeanne has coached Gary Valenciano, Piolo Pascual, John Lloyd Cruz, Bea Alonzo, Yeng Constantino, Billy Crawford (for rap), Nikki Gil, Karylle, Jericho Rosales, Vina Morales, Sam Milby, John Estrada, KC Concepcion, Maja Salvador, Jason Abalos, Kitchie Nadal, Dingding Avanzado, Kim Chu and Charice. Erehwon Center for the Arts is located at #1 Don Francisco St., Villa Beatriz Subdivision, Old Balara, Quezon City.

CNC Machining; assembly using Fiber laser, Tig and Mig Welding machines; and powder coating application (using batch type and conveyorized system).

SMFI is ISO certified and is committed to provide excellent service with on specs quality and on time delivery.

See them at PSMEX 2023 at Booth no. 11 and “TOGETHER WE BUILD A BETTER FUTURE for the Philippines’ Manufacturing Industry”

To register online visit https://psmex. weebly.com or email psmex01@gmail.com or mai_mgt@compass.com.ph or call +63-2 8985-3375

SUMMER is just around the corner – you know what that means? It’s the perfect time to start planning for your next getaway with the fam! This March, Toyota Motor Philippines is offering payment options and perks that are sure to bring in the fun to your next family road trip. Make new memories with the fam with a brand-new Innova. Get the 2.8 J Dsl M/T variant for only P178,650 downpayment under the Pay Low option. This option allows customers to purchase a new vehicle for as low as 15 percent downpayment with free insurance for the first year, free LTO registration for three years, and no chattel mortgage at 60 months to pay via all-in cash out.

Other models available under the Pay Low option are the Wigo 1.0 G AT at P101,100 per month, the Rush 1.5 GR-S A/T at P176,400, the Fortuner 4x2 G A/T at P274,200 and more! With Toyota, there’s sure to be a model that fits your fam.

With the Avanza, everyone can join in the fun! You can get the 1.3 J M/T variant for a monthly payment of P9,147 under the Pay Light option. Through this option, customers can enjoy low monthly plans with 50 percent downpayment at 60 months to pay.

For the families who find fun in adventure, the Hilux 4x2 J M/T is available for P10,662 per month under the Pay Light option, while those running a business may find the Hiace Commuter Deluxe M/T or Lite Ace 1.5 Pickup M/T the fun choice for their venture. These vehicles are available under the Pay Light option for P18,930 and P6,865 monthly, respectively.

Those who pay in cash also get a discount for every purchase of a brand-new Toyota!

Save P50,000 for the Corolla Altis V HV and V variants under the Cash Savings option, up to P30,000 for the Vios, depending on the variant, and P20,000 for the Veloz G CVT.

Ensure safe drives by regularly bringing in your vehicle for maintenance! Every purchase of a brand-new Corolla Altis, Raize, Veloz, Rush, Fortuner, and selected variants of the Vios, Avanza, Innova and Hilux are entitled to a FREE Basic Periodic Maintenance Service

(PMS) during the promo period, given that they are purchased from an authorized Toyota Dealer nationwide.

Customers may avail of the free PMS package up to the 20,000KM check-up within 18 months from the release date of the vehicle.

New owners of the Lite Ace are also in for a fun treat! All variants of the Lite Ace sold and released within the promo period quality for a fixed 1,000KM to 40,00KM PMS. Customers will only need to pay P1,999 (VAT inclusive) per PMS until the 40,000KM check-up. This fixed PMS promo can be availed within 24 months from the release of the vehicle.

Level up the fun when you upgrade your Toyota this month! Customers who trade in their Wigo for a Vios during the promo period will get P35,000 in rebate, while Vios owners who upgrade to the Raize G CVT will receive a P30,000 rebate. Avanza owners who will trade in their unit for a Veloz also get a P20,000 rebate.

The trade-in rebate can be used as cash discount or to buy accessories when you purchase the participating model during the promo duration.

Additionally, all brand-new Wigo, Veloz, and selected models of the Vios, Corolla Altis, Innova, Hilux, Avanza, Rush, and Fortuner come with a FREE one-year insurance provided by Toyota Insure. The one-year comprehensive insurance covers 24/7 personal accident, passenger auto personal accident, three-year CPTL, own damage (OD), loss/theft, excess bodily injury (EBI), property damage (PD), acts of nature (AON), and includes emergency roadside assistance.

All brand-new G, E and XLE variants of the Vios bought from authorized Toyota dealerships nationwide also have a warranty coverage of five years or 150,000KM, whichever comes first.

The fun never ends with Toyota! Promo runs from March 11 to 31, 2023 only. Check out the full mechanics, offers and participating models here: https://toyota.com.ph/promos/ StartTheFun

THE CPD Council of PICPA and its National Board regularly attend meetings with the BoA for CPD matters.

Editor: Jun Lomibao

UY STAYS IN CONTROL

DANIELLA UY took a step closer to matching her runaway breakthrough win at Riviera two years ago as she closed out with a birdie-birdie feat for a 70 in steamy conditions and doubled her overnight three-stroke lead over Rianne Malixi after two rounds of the International Container Terminal Services Inc. (ICTSI) Iloilo Golf Challenge presented by MORE Power in Iloilo on Thursday.

M alixi actually matched Uy’s closing birdie but the country’s leading amateur could only save a 73, enabling the former Junior World champion to pull away by six on a 137 total and move in the threshold of scoring a follow-up to her five-shot romp over Chihiro Ikeda in the 2021 Riviera Ladies Championship at the hazard-laden Langer course in Cavite.

M alixi’s last-hole birdie also somewhat cushioned the impact of her double-bogey mishap on the parthree 16th but she dropped farther behind at 143 while erstwhile joint second-running Harmie Constantino also reeled back with a double bogey on the par-five 14th for a 74 and a 144 heading to the final 18 holes of the P875,000 championship.

F lorence Bisera carded a 72 for a 145, while amateur Laurea Duque fought back with a 73 to tie Sunshine Baraquiel, who made a 75, and Sarah Ababa, who shot a 76, at 148.

Chanelle Avaricio, who rallied from 8 strokes down to beat Ababa by one at Marapara last week, battled back with a 72 after a 77 but she stood way off at 149 with Chihiro Ikeda, who put in a 72, Pamela Mariano, who carded a 74, and amateur Mafy Singson, who made a 75.

Despite her huge lead, Uy has opted to tone down expectations, aware of the exacting playing conditions and Ababa’s final round meltdown in Bacolod.

Same mindset, not to expect anything, don’t get too emotional and just try to be calm out there,” said Uy, who like the rest of the field, is putting premium on stamina and on how to cope with the debilitating summer heat.

It’s going to be really hot again tomorrow [Friday], so I need to drink a lot of water,” she added.

Malixi, Constantino and the rest of Uy’s pursuers will also need to drain a lot of birdies to get a shot at the crown and the top P105,000 purse.

“I struggled with my fairway shots and GIRs [greens-in-regulation], I

Zaragosa hikes lead to 2 shots with 68

RUPERT ZARAGOSA recovered his touch, kept his poise then produced clutch shots that checked an impending frontside skid for a 68 and a two-stroke lead over an equally gutsy Elee Bisera midway through the International Container Terminal Services Inc. (ICTSI) Iloilo Golf Challenge presented by MORE

Power on Thursday.

A l ate birdie and a brave run of pars spiked Zaragosa’s closing 36, more than preserving his superb backside 32 marred by a bogey on No. 10 but marked by a three-birdie binge from No. 12 as the diminutive but talented former national champion moved 36 holes away from scoring a career breakthrough on the Philippine Golf Tour (PGT).

I’m not going to pressure myself.

I will just follow the game plan, my routine and hopefully, I’ll be able to produce good results (in the last two days),” said Zaragosa, who took charge by one over Ferdie Aunzo with a first round 65 and padded his lead to two on a 36-hole aggregate of seven-under 133 at the Iloilo Golf and Country Club.

Breathing down his neck are two unlikely contenders who both missed the cut at Marapara last week but are now in hot pursuit of a maiden victory with back-to-back under-par rounds in the P2.25 million event put up by ICTSI and organized by Pilipinas Golf Tournaments Inc.

Bisera, a rookie pro, followed up his opening 67 with a 68 to grab second place at 135 while Paul Echavez, looking for a first win in 14 years, holed out with back-to-back birdies to fire a 67 and tied fancied Guido van der Valk, who shot a 65, at third at 136.

Zanieboy Gialon pulled within one off Zaragosa with a scorching fourbirdie run in the first seven holes at the front but drove out-of-bounds on the eighth and made a double-bogey then missed an eight-footer for par on the last to tumble to fifth at 137 after a 67.

A fter making the backside turn at 32, Zaragosa stepped up his assault on the challenging par-70 layout with a birdie on No. 1. But he lost his putting touch and bogeyed the next two on three putt miscues and scrambled with a birdie-bogey-birdie card in the next three before holding sway with three straight pars.

“After making those three-putt bogeys, I told myself that I needed to focus on the allowance and speed (of the greens). So I was able to birdie two of the next three,” said Zaragosa, who also led in the middle rounds in the PGT bubble tournament at RivieraCouples in 2021 but lost to Lascuna by four.

Th is time, he believes he would need a six-under card in last two days to join the elite circle of Tour winners.

But Bisera also continued to show flashes of brilliance and resiliency as he rebounded with birdies on Nos. 6 and 14 after blowing a two-birdie feat in the first three holes with back-toback bogeys from No. 4. He then put himself in strong contention with a slew of scrambling pars at the back.

E chavez, who missed the cut last week by just one stroke, also hopes to sustain his two-day fine display of shotmaking and short game in an attempt to surpass his career-best fourth place effort at Anvaya Cove in 2015.

I should be careful on driving and around the green,” said Echavez,

Bach defends Russia stance amid pro-Ukraine protest

ESSEN, Germany—

International Olympic Committee (IOC) president Thomas Bach defended his organization’s efforts to create a pathway for Russian and Belarusian athletes to return to competition in a speech in his home country of Germany which took place amid a pro-Ukraine protest Wednesday.

B ach reiterated the IOC’s position tha t it would be discriminatory to exclude Russians and Belarusians based on citizenship alone and argued the Olympics can help promote dialogue at a tense time.

P ublic broadcaster WDR reported nearly 200 pro-Ukraine protesters gathered outside the venue calling for Russia to be excluded entirely from the Olympics. The IOC recommended excluding

Russia and Belarus on safety grounds soon after the invasion last year but now argues for letting the two countries’ athletes compete as neutrals without national symbols ahead of a packed calendar of qualification events for the 2024 Paris Olympics.

B ach said he opposed political influence on sports and any suggestion that Russians should be treated as if they have “collective guilt.” The Olympics, he added, need to remain neutral to be a unifying force. The IOC previously said it wants to keep out athletes deemed to be “actively supporting the war,” with a final decision lying with the international federations running individual sports, but it has given few details of how that would work.

who gunned down six birdies against three bogeys, including a three-putt mishap.

But if there’s one player likely to make a charge in moving day, it is van der Valk, whose blistering 65 anchored on solid iron play put the recent The Country Club Invitational winner within sight of Zaragosa after a so-so 71 Wednesday. I hit the ball close to the flag, actually with most of my shots into the green. So my iron play was really good, except for a couple of swings that I missed the greens,” said van der Valk, who drained three birdies within three feet and could’ve shot lower if not for a

Karting ace Go gets 3 awards

CEBU’S 14-year-old champion karter William John Riley

Go thanked the Philippine Sportswriters Association (PSA) for honoring him with the Tony Siddayao Award—a recognition given to outstanding athletes aged 17 years old and below.

“ I am truly honored and humbled to receive these,” said Go, who took a brief break from his European training earlier this month to also receive an award from Cebu City. “

It’s a dream come true to represent the Philippines in karting and I hope this inspires other young athletes to pursue their dreams and have that ‘will to win,’” Go added.

T he San Miguel Corp.-PSA

Annual Awards Night was held March 6 at the Diamond Hotel with Go also named as one of

C-STAN EXPECTS INTENSE SEMIS

By Josef Ramos

BARANGAY Ginebra San Miguel and San Miguel Beer clash in Game 1 of their semifinals series in the Philippine Basketball Association Governors’ Cup—a clash between sister teams Gin King big man Christian Standhardinger expects to be intense.

“ I believe it’s going to be a very, very hard series, there are many talents from there [Beermen] who we need to contain,” the 6-foot-7 Filipino-German Standhardinger told BusinessMirror on Thursday.

The opener of the best-of-five series is set 3 p.m. at the Ynares Sports Center in Antipolo City.

“ It’s going to be an intense bestof-five series,” said Standhardinger, who’s getting more minutes manning the shade and grabbing rebounds as Japeth Aguilar sits out with an injury.

S tandhardinger said that the Beermen’s high-scoring import,

Cameron Clark, will be a force to reckon with.

“ It’s a very tough match up and he’s a great import,” said Standhardinger of Clark, who’s weaving averages of 29.5 points, 10.9 rebounds and 3.5 assists. “You just can do your best and focus on defense to contain him, but it’s always a collective effort in defense.”

But Standhardinger himself has been playing big with norms of 22.9 points, 10.2 rebounds and 6.0 assists to lead the statistical points race with 42.8 ahead of Beermen CJ Perez (39.3 SPs) and June Mar Fajardo (37.6 SPs).

S tandhardinger’s a top contender for the Best Player of the Conference award, but stressed that’s not his priority.

“ I’m so honored but I have to focus on winning the semifinals and then win more championships for my team, for my family and teammates,” he said.

The Gin Kings were 8-3 won-lost

Fierce duels up in IM 70.3

LOCAL endurance athletes look to share the spotlight in the various age groups in the Alveo Ironman 70.3 Davao this Sunday at the Azuela Cove in Lanang.

The men’s 25 to 29 years old category promises to be a slam-bang battle with a deep roster of talents all geared up for the 1.9-km swim, 90km bike and 21-km run race foreseen to be fast, challenging and searing.

Jonathan Pagaura of Filipino Homes-Go for Less and Tri SNB Barracuda teammates Satar Salem and Jailani Lamama banner the stellar cast that also features homegrown bets Jan Capon of Tri Association of Davao, Eduardo Catoc

couldn’t make up-and-down and kind of scrambled for pars,” rued Malixi, who bogeyed three of the first six holes. “I also didn’t take advantage to make the best out of every birdie opportunity I had, so that was a struggle.”

But she added she was able to reach her goal at the finish, that is, to conserve energy for the last few holes.

“ I know it’s going to be really hot tomorrow, so I’ll do the same thing. But then I’ll be reflecting on what I did today and kind of adjust for tomorrow,” said the 16-year-old rising star, who swept all her three Ladies PGT events last year but struggled to finish tied for third with Mariano last week.

Constantino said she also faltered in hot conditions and on the unreceptive greens but hinted at opting for conservative play in the final round to give herself a chance for another championship after closing out the 2022 season with a victory in the inaugural ICTSI Match Play Invitational.

It was way hotter today, so it was way harder (to score),” she said.

“Tomorrow, hopefully the greens will be a lot softer but I’m assuming it will still be hard. I’ll just try to play it before the flag.”

A side from her blazing finish, Uy needed to gun down an eagle on the par-5 No. 4 to negate a two-bogey miscue on Nos. 1 and 3 where she overshot both greens in a rather shaky start that sparked hopes for Malixi and Constantino to make it a three-way fight to the finish.

Milo’s Junior Athletes of the Year alongside fellow achievers in archery, gymnastics, karate, swimming and chess. He also received an award as one of Cebu City’s “Outstanding Individuals” during the recent 86th Cebu City Charter Day Testimonial Dinner.

G o has been karting since he was seven and has achieved notable feats he highlighted by being the first Filipino with podium finishes in three European competitions. I n 2022, he won world champion at the ROK Super Finals in Lonato, Italy, along with getting the pole position and fastest lap.

G o also finished second at the FIA Karting Academy in Genk, Belgium, and third at the WSK Euro Series in Lombardia, Italy.

in the eliminations and eliminated NLEX outright, 127-93, in the quarterfinals.

T NT Tropang Giga and Meralco also begin their best-of-five semifinals series at 5:45 p.m. Christian [Standhardinger] stepped up exactly when we needed him to,” Gin Kings coach Tim Cone said. “He’s always been in a time-sharing position with Japeth [Aguilar] and that has shortened his minutes.”

San Miguel Beer, coach Jorge Gallent, meanwhile, said playing crowd-favorite Ginebra in a bestof-five series is a “very difficult challenge.”

Nothing comes easy now. We are in the playoffs. I am expecting we are going to have a hard time in the semifinals,” said Gallent, whose team will be playing without the injured 6-foot-11 June Mar Fajardo (left knee).  Top seed TNT routed No. 8 Phoenix Super LPG, 132-105, behind Rondae Hollis-Jefferson’s triple-double of 18 points, 12 rebounds and 10 assists, while Meralco beat Magnolia in overtime, 113-107, on Wednesday to advance to the semifinals.

Davao age-group bets

of Tri Mati and Biboy Ballenas of Tri DavSur along with the likes of Rey Estrosos of Tribo, Tri Iloilo’s Nikko Eulatic, Rey Chan of Tri Amigos Phi and U Can Tri’s CJ Custodio.

On top of the 30 berths offered in the age-group categories, the event is also staking 25 extra slots for women to the 2023 VinFast Ironman 70.3

World Championship on August 26 and 27 in Lahti, Finland, ensuring a spirited chase among the more than thousand bidders in the premier endurance race powered by Petron, the only pro-laced race this year under The Ironman Group/Sunrise Events Inc. banner. Meanwhile, 18 pros have stepped up their preparations for the grueling race

with Filipe Azevedo of Portugal and fellow Ironman 70.3 winner Tuan Chun Chang of Taiwan raring to dispute the men’s crown and the top $30,000 purse. Slugging it out for the women’s title in the first triathlon race of the season in Asia are veterans Dimity-Lee Duke and fellow Australian Sarah Crowley, United Arab Emirates’ Lottie Lucas, Ai Ueda of Japan and Americans Amy Vantassel and Lauren Brandon.

The blue-ribbon event will also unveil a 12-man team competition (Tribu Maisugon) held in honor of the 11 tribes of the host city with a winnertake-all cash prize of P550,000 at stake, including P500,000 from Davao City and P50 thousand from Aboitiz.

WILLIAM JOHN RILEY GO poses with his trophies.

CHRISTIAN STANDHARDINGER and the Gin Kings start their battle with the Beermen.

THOMAS BACH: The Olympics need to remain neutral to be a unifying force. AP

RUPERT ZARAGOSA is 36 holes away from scoring a career breakthrough on the Philippine Golf Tour. ROY DOMINGO

DANIELLA UY carefully studies the line of her putt. ROY DOMINGO

Motoring

EVOxTErrabringsinChina’s TOpluxurybrandhOngqi

Established in 1958, Hongqi, which means “Red Flag,” is one of China’s most prestigious luxury automobile brands with a long, rich, illustrious history. Its line of limousines and SUVs continues to be the vehicle of choice for high-ranking government officials, visiting heads of state, influential leaders of industries, prominent business personalities, and opulent celebrities.

EVOxTerra, is the mobility group of Transnational Diversified Group (TDG) Holdings.

“We are extremely proud to bring this legendary car marque to the Philippines and let Filipinos finally experience for themselves the many reasons why Hongqi remains such an enduring international brand,” said Rashid Delgado, EVOxTerra president, during the press conference.

Delgado also stressed that the partnership with Hongqi proves EVOxTerra’s commitment to promoting sustainability that brings forth progressive brands firmly entrenched in the future of mobility.

For his part, FAW Hongqi Oversees General Manager Wang Zuoquan shared his excitement for the brand finally entering the Philippine market to provide Filipino car enthusiasts with the Hongqi brand of utmost luxury, state-of-the-art design, and top-notch performance.

FAW (Hongqi) and EVOxTerra sealed the formal partnership a few months after Hongqi’s first appearance at the 10th Philippine Electric Vehicle (EV) Summit late last year. The Hongqi E-HS9 full-electric full-size SUV was showcased during the event, boasting

European-inspired styling and ultra-plush interiors.

“Local customers are assured of the excellent after-sales support that EVOxTerra is known for. We are also inviting and looking forward to working with local partners and dealers who want to bring Hongqi to the rest of the country,” added Shaw.

The initial line of Hongqi vehicles that will be made available in the Philippines consists of four models, classified into two categories, New Energy Vehicles (NEV) and Internal Combustion Energy (ICE) models fuel-efficient, modern, and environmentfriendly. Soon, Hongqi will open its first showroom in BGC.

E-HS9 Full-Size Smart Electric SUV

ONE of the two models previewed was the E-HS9 full-electric luxury SUV. It exudes that familiar guise of an opulent Englishmade SUV at a glance. The E-HS9 is offered in Executive, Flagship (two-tone), and Deluxe variants. It provides what the brand calls “Flashy Welcome Light,” representing the sense of lit ceremony and the advent of future technology. According to Hongqi, batteries are large-capacity, high-performance, and capable of a 10-minute supercharge to deliver a 100-kilometer driving range.

Dimension-wise, the vehicle is 5209mm long, 2010mm wide, and 1713mm tall with a wheelbase of 3110mm. The huge frame rolls on 21-inch multi-swirl spoke alloys wrapped with 265/45 R21series tires. The front overhang is 916mm, while the rear is 1183mm.

The massive front grille is complemented by an intelligent matrix LED Headlight. Doors are electromagnetic with hidden handles. Moreover, there is a panoramic sunroof, rear body privacy glass, and an electric back door with a memory.

Inside is a luxurious cabin layout with fine quality. Of course, the hi-tech factor is evident. There are multi-touchscreen panels, and it even offers an extended version for the top-spec variant. Seats’ trim material combinations are Alcantara+PVC synthetic leather and NAPPA+PVC synthetic leather. These are just a few from the long list of features. Convenience and safety features include Super Adaptive Cruise Control (SACC), Driving mode select (long range, comfort, sport, all-terrain, and off-road), Auto Park Assist, Intelligent damper control system (exclusive to top spec), Steering wheel memory, Hands Off Detection (HOD), Wireless phone charger, Driver/Front passenger airbag+Front side airbags, Rear side airbags, and Dual sides air curtain.

Standard driver-assist functions are Acoustic Vehicle Alerting System (AVAS), Tire Pressure Monitoring System (TPMS), Electronic Stability Program (ESP), Front Collision Warning (FCW),

Discounts galore from Toyota; Honda deals

HUGE discounts await Toyota buyers this March. Amazing, indeed, how this car giant can so generously offer pressed-down prices. When you are No. 1, sky is the limit, indeed.

L et’s give way to Allana Faith Rufo for the full details of the Toyota promo.

This March, Toyota Motor Philippines (TMP) is offering payment perks that are sure to bring in the fun to your next family road trip.

“Grab the Innova 2.8 J Dsl M/T for only P178,650 downpayment. The promo also includes free insurance for the first year, free LTO registration for three years, and no chattel mortgage at 60 months to pay via all-in cash out.

The Wigo 1.0 G AT goes at P101,100 downpayment, the Rush 1.5 GR-S A/T 176,400, and the Fortuner 4x2 G A/T P274,200.

“

The Avanza 1.3 J M/T is a giveaway at P9,147 a month instalment anchored on a 50-percent downpayment at 60 months to pay.

The Hilux, Tini Arevalo’s favorite, can be had at P10,662 a month with the 4x2 J M/T model.

“ To the business-minded, the Hiace Commuter Deluxe M/T or Lite Ace 1.5 Pickup M/T are perfect, coming at P18,930 and P6,865

monthly, respectively.

“Buy in cash and save P50,000 with the Corolla Altis V HV and V variants, the Vios at P30,000 and the Veloz G at P20,000 discounts, respectively.

Likewise, every purchase of Corolla Altis, Raize, Veloz, Rush, Fortuner, Vios, Avanza, Innova and Hilux gets a free Periodic Maintenance Service (PMS), the package offering up to the 20,000-km check-up within 18 months of the sale.

“Lite Ace buyers can avail of the PMS from 1,000km to 40,000km promo at a minimal cost of P1,999 up to the 40k-km check-up.

A rebate of P35k in a Wigo trade-in for Vios, and P30k in a Vios swap for Raize G CVT. Avanza owners upgrading to Veloz will get a P20k rebate.

“All G, E and XLE variants of the Vios will have a warranty coverage of five years or 150,000KM, whichever comes first.”

A llana counsels us to hurry as the promo runs only from March 11 to 31.

Visit your preferred Toyota dealership now, or go to toyota.com.ph/dealer.

Honda youth program

HONDA recently drew 24 students from eight schools in a training driving event in its sustained efforts to contribute to

Rear Cross Traffic Alert (RCTA), Lane departure warning system (LDW), Lane Keeping Assist (LKA), Autonomous Emergency Braking (AEB), and Blind Spot Detection (BSD).

better road safety.

Partnering with the International Organization of Student Youth Leaders (IOSYL), Honda held a guided experiential drive through the Honda SENSING–equipped models of the All-New BR-V, Civic and HR-V. During the actual driving exercises, the students were guided by Honda’s technical experts and certified driving instructors. The participants were highly engaged as they got a first-hand experience with Honda’s advanced driver-assist system using vehicles equipped with Honda SENSING, such as the Civic, AllNew HR-V, and All-New BR-V 1.5 VX CVT. “ This program is designed to strengthen our consciousness about how our own actions can help reduce road accidents,” said Honda president Masahiko Nakamura. Such a noble move.

PEE STOP Spencer Yu will launch the BMW 7 on March 27. A big bash coming up at Rockwell… Stroke survivor Ray Butch “Elvis” Gamboa had the surprise of his life when we visited him last weekend in his Paranaque home. He continues to improve, having already recovered his appetite for food—and drinks as well. “He now takes a double of single malt whiskey every night,” said Wii, Elvis’s handsome son. Our group included Maricar Parco, Tey Sornet, Ron delos Reyes, Jeff Reyes, Aris Ilagan, Manny delos Reyes, Vernon Sarne and Danny Isla. Fond memories were shared in wild abandon while the band feasted on Jake P. Ayson's guinatang kuhol (escargot) and Korean pancit. Vince Socco was supposed to be with us but for a prior appointment. Being Mr. Generous non pareil, he offered his Lexus ES to me—including his personal driver. What a dude, this Sir Vince.

The hongqi e-hS9 full-electric full-size luxury SUV

UlTr a-lUxUrioUS and high-tech cabin

Story & photos by Randy S. Peregrino

EVOxTerra has been appointed by First Automotive Works (FAW) of China as the official distributor of Hongqi vehicles in the Philippines.