BusinessMirror May 02, 2019

JAPAN’S FUTURE Japan’s new Emperor Naruhito receives the Imperial regalia of sword and jewel as proof of succession at the ceremony at Imperial Palace in Tokyo on Wednesday, May 1, 2019. Story on A9. JAPAN POOL VIA AP

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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A broader look at today’s business n Thursday, May 2, 2019 Vol. 14 No. 204

ADB allays debt trap fears, cites loans’ value N

By Cai U. Ordinario

@caiordinario

ADI, Fiji—As anxiety over falling into debt traps spreads among more countries in the region, the Asian Development Bank (ADB) has asserted that loans are still necessary to achieve high economic growth and address development constraints.

In a briefing on the sidelines of the 52nd ADB Annual Meeting here on Wednesday, ADB Chief Economist Yasuyuki Sawada said debts enable governments like those of the Philippines to increase public spending that boosts the

economy and eliminates infrastructure bottlenecks.

Sawada said as long as debts remain sustainable, it is important to support these kinds of measures by governments to provide better infrastructure for their people.

“I think having debt per se and also continuing public investment is not necessarily a bad idea. But rather, as we can see, Philippine economy is nearly driven by—one of the main drivers is—public investment. So in that sense, I think

“I think having debt per se and also continuing public investment is not necessarily a bad idea.

But rather, as we can see, Philippine economy is nearly driven by—one of the main drivers is —public investment. So in that sense, I think as long as debt is sustainable, I think this is a very important government initiative we need to support.”—Sawada

as long as debt is sustainable, I think this is a very important government initiative we need to support,” Sawada said.

Sawada said institutions such as the International Monetary Fund (IMF) have developed a framework on debt sustainability.

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@sam_medenilla

HREE new policies ensuring the protection and better welfare of Filipino workers here and abroad were signed on Wednesday during the government’s Labor Day Celebration in Pampanga.

Among those signed was the much-awaited joint guidelines of the Department of Labor and Employment (DOLE), Department of Justice (DOJ), Bureau of Immigration (BI) and the Bureau of Internal Revenue (BIR) “harmonizing” government policies in the issuance of Special Work Permits (SWP).

SWP is issued by the BI to foreign nationals (FN) who will be working in the country for less than six months.

Under the new guidelines, only FNs in identified 14 occupation

groups may now avail themselves of the SWP. The occupations under the socalled white list include professional athletes, coaches, trainers, and assistants; international performers with exceptional activities; artists, performers and their staff; service supplies; treasure hunters; movie and television crews; foreign journalists; trainees assigned in the government institutions; lecturers; researchers, trainers, and others pursuing academic work; religious missionaries and preachers; commercial models and talents; culinary specialists and chefs; professionals; and consultants and specialists.

Labor Secretary Silvestre H. Bello III said FNs with occupations not included in the list like construction workers will now no longer be allowed to apply for an SWP. See “Labor’s permits,” A2

PESO EXCHANGE RATES n US 52.1060

BUSINESS NEWS SOURCE OF THE YEAR

P25.00 nationwide | 6 sections 44 pages | 7 DAYS A WEEK

After 18 years, Epira failed to give PHL energy security Rene E. Ofreneo

LABOREM EXERCENS

A

FTER hearing for four grueling hours the testimonies of industry power players and government energy officials on April 26, the hardworking chairman of the Senate Committee on Energy was a picture of concern and frustration. Sen. Win Gatchalian failed to get any assurance from the hearing participants that no more red/yellow alerts shall be issued by the power industry in the coming El Niño weeks. Nor is there any assurance that brownouts/blackouts shall not occur during or after the midterm elections. And yes, Philippine electricity prices, among the highest in the world, are bound to rise when the demand spikes up.

Clearly, the Philippines has weak energy security. Simply put, energy security means the uninterrupted and sustained supply of electricity at reasonable prices to meet the needs of all households, offices and businesses. Every country in the world strives to develop a national energy security program, some stretching up to several decades. It is a strategic component in building up national stability, competitiveness and sustainability.

See “ADB,” A2

Continued on A11

Joint rules on alien labor’s permits, 2 others signed

By Samuel P. Medenilla

2017 EJAP JOURNALISM AWARDS

3 terminals get good ratings from USCG

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LABOR DAY FAIR Some 200,000 jobs were offered in simultaneous job fairs nationwide on May 1. This one is in Taguig City, where 109 companies participated. Nationwide, DOLE registered 30,920 applicants who participated in its 31 job fairs. During the simultaneous event, the Technical Education and Skills Development Authority (Tesda) provided skills training to 1,355 individuals, and the Department of Trade and Industry gave livelihood aid to 1,917 participants. NONIE REYES

HE United States Coast Guard (USCG) through its International Port Security Program (IPSP) has found three Philippine international container ports to “have significantly improved,” according to the Department of Transportation (DOTr).

The three terminals are: Subic Bay International Terminal Corp.

(SBITC), Davao International Container Terminal (DICT) and the Manila International Container Terminal (MICT).

The USCG conducts in-country visits in countries servicing USflagged vessels engaged in international trade.

See “USCG,” A2

n JAPAN 0.4668 n UK 67.4200 n HK 6.6435 n CHINA 7.7371 n SINGAPORE 38.2767 n AUSTRALIA 36.7608 n EU 58.2910 n SAUDI ARABIA 13.8946

Source: BSP (30 April 2019 )

News

BusinessMirror

A2 Thursday, May 2, 2019

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ADB to fund elevated greenways for M. Mla

N

By Cai U. Ordinario

@caiordinario

ADI, Fiji—Filipinos walking to and from the MRT and LRT will soon get some reprieve from the scorching heat of the sun and torrential rains as the Asian Development Bank (ADB) and the government are in the thick of preparing the construction of six to seven elevated greenways in congested parts of Metro Manila.

In a briefing on the sidelines of the 52nd ADB Annual Meeting here on Wednesday, ADB Southeast Asia Director General Ramesh Subramaniam told reporters that ADB will extend $100 million worth of loans

to construct the greenways.

The ADB and the government intend to complete at least one greenway by 2020. The first three locations for the greenways project, which is still being evaluated by

the National Economic and Development Authority (Neda), will be North Edsa in Quezon City, Pasig City and Taft Avenue.

“The idea is to promote pedestrian-friendly structures so their reliance on public transport will go down as the Philippines finds other solutions. So we are very optimistic about it. We’re going to start small, but there’s a good plan, good feasibility study that has been done and the Department of Transportation [DOTr], as well as the DPWH [Department of Public Works and Highways], are very keen, they’re very committed,” Subramaniam said.

ADB Southeast Asia Department Deputy Director General F. Cleo Kawawaki explained that the greenways can be used by both

$100M Worth of loans that ADB will extend to the Philippines to build the elevated greenways, officials said in a briefing on the sidelines of the 52nd ADB Annual Meeting in Fiji.

pedestrians and cyclists. She said the ADB and the government are currently designing a structure to turn this into a reality.

Kawawaki said by designing these greenways in this way, the structures will also solve two problems—road congestion and road

‘S&P upgrade to boost FDI inflows into PHL’

By Bianca Cuaresma @BcuaresmaBM

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CONOMIC managers lauded the country’s most recent ascent in the investment grade ladder, saying the “BBB+” rating from S&P Global is an indication of the country’s “sound economic expansion.”

Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo said the one-notch upgrade by S&P, which was announced on Tuesday, “simply affirms the [Philippine] economy’s sustained strong performance capped by impressive policy and structural reforms that would ensure its positive long-term prospects.”

“With such an upgrade, this would bring more interest among foreign investors to participate in the growth process and, in the end, further establish and strengthen the upward trajectory of the Philippine economy,” Guinigundo added.

Labor’s permits. . .

Tax-related requirement

THE six-page issuance also makes Tax Identification Number (TIN) a pre-application requirement for all FNs applying for all work permits issued by the government except for Special Temporary Permits issued by the Professional Regulation Commission (PRC).

Permits, where TIN is a mandatory requirement, include SWPs; Alien Employment Permit (AEP); and Provisional Work Permits (PWP).

“There was a time, I think in 2016, when BIR issued [a new policy] making TIN not a requirement in the issuance of new applications for AEP. We only require it for AEP. BIR replaced that policy through a letter they submitted to Secretary Bello.

This became our basis for our new issuance,” Tutay said.

Lawmakers blamed the BI’s lax issuance policy for the surge in the number of FNs in the country.

The DOLE-DOJ-BI-BIR issuance will take effect 15 days after being published in a newspaper of general circulation.

Longer leaves

ALSO signed yesterday was the new implementing rules and regulations (IRR) of Republic Act (RA) 11210 and the Expanded Maternity Leave Law. The IRR said the 105-leave benefit provided

by RA 11210 could be availed of by female workers in the public sector, private sector, informal economy, voluntary contributors of

DFA. . .

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ability of @ PhnLibya to respond to calls for assistance by Filipinos in distress becomes more difficult or even impossible to carry out.

That’s why this early we ask our kababayan to let us help lead them out of harm’s way,” Cato tweeted.

He added that 13 Filipino carpet-factory workers displaced by the fighting in Tripoli were repatriated by their employer via Misrata on Monday.

“This brings to 32 the number of Filipinos repatriated from Tripoli since fighting began on April 4,”he said.

According to Cato, there is an ongoing house-to-house fighting in the outskirts of Tripoli.

National Treasurer Rosalia de Leon also made a statement on the recent upgrade, saying the development is a “recognition of our sound policies on liability management.”

“We have kept our debt in check— even as we invest more on infrastructure and social services. We are committed to fiscal discipline, and this makes the Philippines a truly creditworthy sovereign in the eyes of the international financial community,” she added.

The head of the Investor Relations Office, Director Elizabeth Medina-Navarro, also celebrated the news, particularly citing the fact that with the new rating, the Philippines is just a notch away from “A minus,” which is within the “A” scale. A rating within the “A” scale will place the Philippines on the radar of even more investors, according to the IRO. “Since 2013 when the Philippines first bagged investment grade ratings from international debt watchers, the country has secured more rating upgrades. These are credited mainly to sound economic

policies and also to effective communication of the economy’s strengths to the right audience,” Medina-Navarro said.

“Now that we are just a step away from reaching ‘A minus’, the IRO’s efforts to communicate the Philippines’s favorable narrative to the international community will continue with even more fervor,” she added.

ING Bank Manila economist Nicholas Mapa said the upgrade limits the reliance on interest rate differentials to bolster the peso as foreign flows are seen to continue even with less attractive carry trade opportunities.

“The upgrade also shows that ratings agencies view the external position of the Philippines as favorable with its more than adequate level of gross international reserves and the proverbial ‘aces up our sleeves’ in overseas Filipino remittances and BPO [business-process outsourcing] receipts, two sources of FX [foreign exchange] akin to the Philippine dynamic,” he said.

Continued from A1

ADB. . .

the Social Security System (SSS) and female national athletes.

Those who will be qualify under the provision of the Solo Parent Welfare Act will be entitled to another 15-day paid leave.

Employers who violate the provisions of RA 11210 will be fined not less than P20,000 nor more than P200,000.

The IRR will take effect immediately even if it has yet to be published, since such immediate effectivity is stated in RA 11210.

Institutional certification

F I N A L LY, Overseas Workers Welfare Administration (OWWA) and the Technical Education and Skills Development Authority also finalized a memorandum of agreement (MOA) for the certification of OFWs. The new accord strengthens the coordination between the two agencies in providing skills training and certification even while they are abroad.

It designated OWWA to primarily promote skills training for OFWs, while Tesda will handle the training modules as well as maintain the database of OFWs, who availed themselves of the program.

“Bringing Onsite Assessment Program [OAP] and skills training to countries where OFWs are located, prioritizing assessment and certification, or have referred to local job opportunities,” the five-page MOA said.

The five-page MOA, which will be in effect upon signing, will be valid for two years subject to renewal by the concerned parties.

“It’s house-to-house in the outskirts of Tripoli and not in capital proper itself. Fighting taking place in areas where some Filipinos are located,” he said, adding that the mission has “already encountered undocumented household workers.”

News accounts from Tripoli said plumes of smoke were seen rising from the plain south of Libya’s capital as troops loyal to the UNrecognized government battle to fend off an assault on Tripoli.

The plumes of smoke appear to rise over the airport, which was heavily damaged in 2014 clashes and since then has not been used.

However, news accounts said the airport remains a strategic site in the battle for control of the capital.

Men loyal to the Government of National Accord (GNA) have been trying to take ground from forces of commander Khalifa Haftar, who

Continued from A1

This enables the Washington-based lender to determine whether a country’s debt sustainability is questionable or needs to be closely monitored.

He said the ADB follows the analysis of the IMF with regard to debt sustainability. The ADB Chief Economist said as long as the debts of a country are manageable, these debts are “not really a big concern.”

Economist Rene Ofreneo said the government has highlighted the fact that the country’s debt to GDP ratio declined to 42 percent from 75 percent in 2004. This, said the BusinessMirror columnist, has given the government the confidence that the country’s debt is sustainable.

Based on the latest report from the National Economic and Development Authority (Neda), the majority or 55 of the 75 flagship projects will be financed through Official Development Assistance (ODA).

These projects amount to P1.97 trillion or 92.56 percent of the total amount for the projects.

Japan, through the Japan International Cooperation Agency (Jica), provided the bulk of ODA assistance to the country, accounting for a 36-percent share worth $5.33 billion for 36 loans/grants of the active ODA portfolio, according to Neda’s ODA Portfolio Review in 2017.

This is followed by the World Bank with 21 percent or $3.07 billion for 26 loans/grants and ADB with 20 percent or $2.97 billion for launched an offensive on Tripoli on April 4.

A coalition of Tripoli militias and armed groups from western towns have, since April 20, been slowly repelling Haftar’s self-styled Libyan National Army.

DOLE’s mandate

IN an interview in Manila, DOLE chief Bello said they are now preparing to bring home more OFWs from Libya.

“If it is a mandatory repat [repatriation], then we would have to bring OFWs there home,” Bello said at the sidelines of the Labor Day celebration of the Department of Labor and Employment (DOLE) in Pampanga.

Bello earlier deployed a six-man augmentation team in Tunisia located in the northwest of Libya to help in repatriation efforts there.

As of Wednesday, he said the government

“The string of above-6-percent growth was likely considered as the Philippines enjoys a demographic dividend but also looks to evolve into a new investmentdriven growth narrative. Government officials must look to safeguard this growth momentum going forward,” he added.

On Tuesday, S&P announced that it is assigning a BBB+ rating on the Philippines’ long-term sovereign credit rating.

“We raised the rating to reflect the Philippines’s strong economic growth trajectory, which we expect to continue to drive constructive development outcomes and underpin broader credit metrics over the medium term,” S&P said.

“The rating is also supported by solid government fiscal accounts, low public indebtedness and the economy’s sound external settings,” the ratings agency added.

The new rating is given a “stable” outlook by the ratings agency, which means that no material change is expected of the rating in the next 12 to 18 months.

37 loans/grants.

Private-sector financing

MEANWHILE, apart from ADB’s sovereign operations, Subramaniam expects the Build, Build, Build program to usher in more opportunities for the ADB to extend private sector financing to firms in the Philippines.

Subramaniam said currently ADB’s private-sector operations in the country still have a small “footprint” but are “quite catalytic.” He said some of the projects financed by ADB’s Private Sector Operations Department (PSOD) include the MactanCebu airport, as well as support in green bond issuance for renewable power.

“Our private sector colleagues are anticipating that as the BBB program gains volume and traction, there could be a lot more financing, which will be beyond [what] the domestic financial sector would be able to service. So we are continuously looking at opportunities like, for example, in our education space, private sector is looking at getting in, supporting a series of institutions. We will be continuously looking for opportunities,” Subramaniam said.

ADB’s PSOD catalyzes, structures and funds investments in privately held and state-sponsored companies across a wide range of industry sectors throughout developing Asia.

The emphasis is on commercially viable transactions that generate financial returns while also delivering on ADB’s organization-wide mission to promote environmentally sustainable and inclusive economic growth. has only facilitated the repatriation of 38 of the estimated 2,600 remaining OFWs in Libya.

He earlier attributed the low number of repatriation takers to the OFWs’ hesitation in Libya to leave their work.

Most of the OFWs there are medical workers and engineers.

DFA said it will not compel OFWs in the identified danger zone to leave Libya against their will despite the mandatory repatriation phase there.

In terms of deployment of OFWs in Libya, Philippine Overseas Employment Administration (POEA) Administrator Bernard P. Olalia said they will await a recommendation from DFA on whether there is a need to expand their existing deployment ban in Libya.

POEA’s deployment ban in Libya only covers areas stipulated by DFA.

safety. Traffic along major thoroughfares has cost the economy billions worth of lost economic productivity while road accidents have increased.

Economic cost: P3.5B

THE Japan International Cooperation Agency (Jica) estimated that the economic cost of transportation is P3.5 billion a day in Metro Manila. If this is not addressed, the economic costs could reach P5.4 billion a day in 2035.

Based on the annual report of the Metro Manila Development Authority (MMDA), of the total 116,906 accidents reported in 2018, around 98,632 were damage-toproperty cases; 17,891 were nonfatal injuries; and 383 were fatal.

Further, the hit-pedestrian collision type accidents had the highest number of fatal cases at 141 or 36.81 percent of the total accidentrelated deaths in 2018.

“What we’re trying to do is to see if there are ways where we can have the bicycle but also on the elevated, so that the roads are reserved for the cars. So less accidents, less traffic,” Kawawaki said.

Subramaniam said the models being used for the greenways are those found in Hong Kong, Kuala Lumpur and Seoul. He added that the ADB is also looking at Europebased designs.

He said completing at least one greenway this year or next year would also serve as an example of how to do the succeeding greenways.

‘Unresolved US-China row to dent PHL growth’ Continued from A12

The US cornered 16.6 percent or $1.74 billion of total exports while China accounted for 21.3 percent or $3.65 billion of total imports during the period.

Over the long term, the trade tensions could increase exports, particularly in electronics and machinery as well as the apparel sector in other countries in the region.

Countries like Singapore, Malaysia and Thailand will benefit from a production shift in electronics and machinery while Vietnam and Cambodia will see a pickup in apparel exports.

“In other sectors, chemicals production would decline across the region, while services production would decline in the United States, China, Singapore and Cambodia, possibly due to second-round effects from dampened demand in the United States and China, and consequently from the rest of the world,” the report stated.

Other risks THE trade tension between the US and China is just one of the primary risks to the economy this year and next year. Amro said the Philippine economy is expected to post a growth of 6.4 percent this year and 6.7 percent next year.

Other risks include inflation and “pockets of financial vulnerabilities.”

However, Amro said inflation is still expected to average 3 percent this year and next year, which is within government targets.

The relatively low inflation in the country, Khor said, indicates that the Bangko Sentral ng Pilipinas (BSP) would have reason enough to ease monetary policy.

Khor said that while he could not say whether the BSP will indeed cut interest rates, as the monetary authorities

USCG. . .

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The visit includes assessments on port facility, vessel vulnerability, security plans and measures, and IPSP compliance.

The assessment aims to facilitate sharing of port security best practices and development of mutual interests in securing ships coming in and out of the United States.

The USCG last assessed the Philippine ports in 2015, when it suggested a number of corrective measures to improve the ports.

“We appreciate the USCG Team for the visit and the assessment, as this will give us the baseline for our security standards as maritime

Sniff dogs. . .

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“We need to deploy them this month. We can’t be complacent,”he told the BusinessMirror.

The deployment of meat-sniffing dogs is seen as a more convenient and cheaper way to detect illegal meat products brought into the country by tourists and returning overseas Filipinos.

The DA-BAI is set to deploy an initial 15

will be meeting next week, he said it is likely that the Central Bank will time its decision once inflation reaches a level that is within its “target band.”

In March, the country’s inflation rate averaged 3.3 percent while firstquarter inflation averaged 3.8 percent.

Both are within the BSP’s 2 to 4 percent target range this year. The Philippine Statistics Authority (PSA) will be releasing the April inflation numbers next week.

“I don’t know whether they will cut rates or not. What I showed in the chart is, there’s room, but I think they are all watching the inflation number.

If it falls below within the target band, I think then the central bank would be more comfortable easing rates as necessary,” Khor said.

Meanwhile, despite heightened global risks and stronger external headwinds, the Asean+3 region is expected to remain resilient, growing at only a slightly slower pace in 2019–2020, compared to last year.

In a statement, Amro said downside risks confronting the region are mainly external, stemming from an escalation in global trade tensions, a sharper slowdown in global growth and volatility shocks from financial markets.

Notwithstanding the softer outlook, Amro said the region’s long-term fundamentals remain intact, supported by robust consumption and growing intra-regional trade amid a rising middle class, rapid urbanization and adoption of digital technology.

However, as downside risks have become more pronounced, policymakers have little room for complacency. While current macrofinancial policy stances are generally appropriate, authorities in the region should be ready to recalibrate the policy mix to safeguard growth while preserving financial stability.

trading partners. We value all efforts that will futher enhance our interdependence leading to mutual prosperity,”Transportation Secretary Arthur P. Tugade said.

Areas for improvement

WHILE it noted positive results, the USCG also pointed out areas that need to be improved in the said ports such as continuous monitoring of CCTVs and the implementation of uniform security measures throughout the perimeter fence.

It also noted issues on employee ID and security tags, communication links between the security officers of the ports and the ships, and security concerns for cruise and cargo operations. Lorenz S. Marasigan meat-sniffing dogs followed by an additional 30 canines.

The DA is spending at least P27 million for the 15 meat-sniffing dogs, including the payment for their handlers, for one year.

The United Nations’s Food and Agriculture Organization and the DA-BAI have identified smuggled meat products, especially by tourists, as high-risk carriers of the dreaded ASF virus that has the potential of wiping out the whole local hog industry. The virus is not harmful to humans. Jasper Emmanuel Y. Arcalas

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PEF marks eagle pair to be sent to Singapore for captive breeding

By Jonathan L. Mayuga @jonlmayuga

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HE Philippine Eagle Foundation (PEF) has identified the Singapore-bound Philippine eagle (Pithecophaga jefferyi) pair covered by a Wildlife Loan Agreement (WLA) between the Philippines and Singapore.

In an interview with the BusinessMirror, Dennis Salvador, executive director of the PEF, said chances are high that the Philippine eagle pair will eventually produce offsprings under the care of Wildlife Reserve Singapore (WRS).

The WLA is a measure aimed at protecting and conserving the country’s national bird, also known monkey eating eagle, in case of the spread of the deadly disease that may affect its population in the Philippines.

Considered as “critically endangered” there are only about 400 pairs of the eagles left in the wild.

A prehistoric animal like the Philippine eagle, one of the world’s largest bird of preys in the world, is considered a national treasure.

The government, in partnership with PEF, is determined to prevent the species extinction, and has implemented a captive-breeding program along with the rescue and rehabilitation of injured raptors at the Philippine Eagle Center in Davao City.

Salvador has been involved in the captive-breeding program of the PEF, the conservation partner of the government through the Department of Environment and Natural Resources (DENR) since the program began in the 1990s.

The PEF has so far produced close to 30 captive-bred eagles, including the eagle pair, Geothermica, the male eagle and its mate, Sambisig, Jayson Ibañez, the director for Research and Conservation of PEF said.

Hatched on January 7, 2004, Geothermica, now 15 years old is an offspring of Junior and Kahayag. Geothermica is an adopted eagle of the Energy Development Corp. (EDC).

On the other hand, the 17-yearold Sambisig, hatched at the center on November 7, 2002, is an offspring of Sam and Diamante, the most prolific pair at the Philippine Eagle Center. Sambisig is an adopted eagle of the Dow Chemicals Philippines Inc. Both Geothermica and Sambisig have four previous pairing attempts, before their “partnership,” Ibañez said.

Philippine eagles pair for life, making it extra difficult for them to reproduce.

Each pair of eagles reproduce

once every two years, given the perfect living condition minus the distractions when they are out in the wild.

Asked what are the chances of the eagle pair producing offsprings in the first two years under the care of WRS, Salvador said: “The chances for pairing them successfully are high. I can’t ensure that they will successfully produce an offspring.…

These birds will be held in Singapore indefinitely unless the government asks for [them] back.”

He, however, cautioned against too much optimism, saying that PEF’s help is no guarantee that the eagle pair will reproduce in Singapore.

“These are wild living organisms which we cannot program [or] order to produce offspring. We will assist them by sharing information and techniques,” Salvador said.

Under the WLA which is set to be formally signed on May 20, 2019, the DENR and PEF will provide the pair of eagles, while the WRS will take care of the birds with the goal of making them produce offspring.

The offspring are to be returned to the Philippines for reintroduction back to the wild. WRS will provide training opportunities for PEF and DENR personnel, and provide financial support for the Philippine eagle conservation work, Salvador said.

WRS is the operator of Singapore’s award-winning Jurong Bird Park, Night Safari, River Safari and Singapore Zoo. According to the PEF, there are no other WLAs in the work for the Philippine eagle other than that with Singapore, although 10 years ago, the San Diego Zoo had already asked for a pair of the country’s iconic bird of prey. “[There’s] no other WLAs, yet.

San Diego Zoo cannot accept our birds now because we are now blacklisted due to a recent outbreak of avian flu in the country,” Salvador said.

It is because of the recent outbreak of avian flu that sending the Philippine eagle pair to Singapore becomes timely and justifiable, Salvador said.

“Sending the eagles over to Singapore Zoo/Jurong Bird Park for a breeding loan is an insurance measure to make sure we continue to have a gene pool in case of catastrophic events that could potentially wipe out our captive population in the country. We are especially worried about avian influenza that is why measures such as this were proposed to government as early as 2009,” he said.

Palace reminds workers on Labor Day: Don’t forget what govt has done for you

MILITANTS and members of labor groups stage a protest rally against the Duterte administration at the foot of the Mendiola Peace Arch on Wednesday in observance of International Labor Day. BERNARD TESTA

By Bernadette D. Nicolas @BNicolasBM & Rene Acosta @reneacostaBM

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ALACAÑANG took a swipe at Labor Day protesters on Wednesday for deliberately setting aside President Duterte’s prolabor initiatives, stressing that some workers’ anti-government activities would only serve to scare investors and create job losses.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said that the Duterte administration has been consistent in improving labor conditions of workers.

“The KMU [Kilusang Mayo Uno] criticizes the government for being anti-poor and anti-worker, while blaming the government for the lack of jobs and alleged worsening labor conditions. What seems to escape them is the truth that their anti-government activities could scare away foreign investors in the country resulting in job losses to the people they are fighting for and vow to protect,” the Palace official said.

He also took the opportunity to remind critics of the measures that the government has taken to im-

Navy joins regional maritime exercise in Busan, S. Korea

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HE regional sea exercise joined by the Philippine Navy along with maritime forces from 18 other countries opened on Wednesday in South Korea, with the host country’s prodding for a stronger regional response to maritime security issues.

The Navy’s contingent led by Capt. Roy Vincent Trinidad, commander of the Naval Task Group (NTG) 80.6 joined regional navies in the Asean Defense Ministers’ Meeting (ADMM)-Plus Maritime Security Exercise in Busan, South Korea.

Rear Adm. Lee Seong Yeoul, commander of the 3rd Fleet of Republic of Korea’s (ROK) Navy, who opened the exercise, said the maritime training should give the participating navies the opportunity to hone joint response capability in the area of maritime operations.

It should also promote friendship, partnership and even a “relationship” among the participating sea forces.

Lt. Maria Christina Roxas, public affairs officer of the NTG 80.6, said that other than the country, Australia, Brunei Darussalam, China, India, Japan, Malaysia, ROK, Singapore, Thailand, US and Vietnam are joining the actual exercise.

Six others countries, including Cambodia, Indonesia, Lao PDR, Myanmar, New Zealand

Editor: Vittorio V. Vitug • Thursday, May 2, 2019 A3

and Russia are also joining as observers. This year’s exercises are cochaired by the ROK and the Royal Singaporean Navy.

“The Philippine Navy’s participation in this exercise manifests its commitment in promoting multilateral cooperation in a multinational environment for peace and stability among Asean and other regional navies,” said Roxas.

The importance of the maritime combined exercise was highlighted by ROK-Navy Fleet Commander Vice Adm. Park Ki Kyun who pushed for maritime security in the Asia Pacific region.

“This year’s FTX [field training exercise] take the great meaning to establish defense cooperation system and promote friendships. The exercise will provide an opportunity to stabilize the maritime security environment in the region by promoting defense cooperation and trust among participating nations,” he said.

The Philippine Navy has been active of late in attending naval exercises and other events in the region following the steady arrival of its sea assets.

Late this month, the Navy is expected to launch from Korea its first brand new frigate built by Hyundai Heavy Industries. Rene Acosta

prove the plight of workers.

Panelo said that the President has signed laws and issuances that strengthened occupational safety and health standards (Republic Act 11058), making work from home as an alternative work arrangement (R A 11165), increasing female workers’ maternity leave period (RA 11210), providing a handbook on the rights and responsibilities of migrant workers (RA 11227), increasing the employment compensation funeral benefits for employees in the public and private sectors (Executive Order 33), protecting the right to security of tenure of all workers (EO 51), increasing employees’ compensation benefits in the private sector and career’s allowance in the public sector (EO 54) and granting of gratuity pay to job order and contract

service workers in the government (AO 2), among others.

“It is also during the current government when the welfare and concern of our overseas Filipino workers were given priority. We now have a one-stop service center for OFWs, a 24/7 OFW Command Center and an Overseas Filipino Bank. We have signed bilateral labor agreements with Cambodia, Saudi Arabia, United Arab Emirates and Kuwait, to name some,” Panelo said.

Malacañang also described the Filipino workers are the “President’s most valued resource as labor [and] is one of the engines that will propel the country’s growth and development.”

“The administration’s resolve is the promotion and protection of the rights and welfare of Filipino workers not only in the country but in foreign soil, as well. We are committed in creating jobs as we look forward to welcoming more Filipinos in the work force,” he said.

Generally peaceful

THE Philippine National Police (PNP), meanwhile, reported on Wednesday that workers’ rallies and protests to commemorate Labor Day were generally peaceful by midday and was hoping that the situation would prevail in the entire stretch.

“As of midday, the PNP finds the peace and order situation nationwide to be generally peaceful and orderly, with no untoward incidents reported,” said PNP

Spokesman Col. Bernard Banac.

Thousands of workers staged protests and rallies marking Labor Day in key cities and other areas around the country, with the PNP observing a full alert status to ensure security for the workers and for the commemoration.

“We laud the workers nationwide for commemorating Labor Day in an orderly and peaceful manner,” said Banac, adding the PNP is supporting the country’s labor force in expressing their concerns and grievances in an orderly manner.

In Metro Manila, more than 4,000 rallyists have converged at the foot of the Chino Roces Bridge and at the Liwasang Bonifacio in Manila as of 12 p.m., according to National Capital Region Police Office (NCRPO) chief Maj. Gen. Guillermo Eleazar.

Eleazar said they were one with the workers in observing the occasion although more than 8,000 policemen were deployed in converging areas in Metro Manila, still for the security of the rallyists, but with orders to maintain maximum tolerance.

“We are not the enemies of the rallyists. I assure that the NCRPO is always ready to secure the public from any eventuality, as well as guarantee that your police force will deal with those who will conduct rallies with maximum tolerance and outmost respect for human rights,” Eleazar said.

“Consequently, I would like to remind the public regarding the ‘no permit, no rally’ policy except for freedom parks. Protesters must follow existing laws and ordinances to ensure the successful conduct of this event,” he added.

The PNP urged the rallyists to guard their ranks against saboteurs who might want to take advantage of the situation and create trouble, and for the public also to be wary of criminals.

“We all know that in protests, there are instigators and there are people who are going to provoke our police but the PNP always exercise maximum tolerance,” Banac assured.

“We allow them up to the point that our police will get hurt but if they went beyond the limitation and we need to do an action, our police responds back for the safety of the general public” he added.

The police spokesman also reminded the rallyists not to destroy and vandalize their places of convergence and ensure that they are free from litters.

“We encourage a peaceful and orderly protest. We should not vandalize and destroy any public fixtures, and let’s not throw our trashes on the street,” Banac said.

3 agencies to localize work of federalism task force in Davao

By Manuel T. Cayon

@awimailbox Mindanao Bureau Chief

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AVAO CITY—Three national government agencies are currently working together here to lay down the ground work for a federal setup drafted by the Constitutional Consultative Committee led by former Supreme Court Chief Justice Reynato S. Puno, with local advocates already looking at some barangays as “federal-ready.”

Local federal advocates here said the Mindanao Development Authority (MinDA), Department of the Interior and Local Government (DILG) and the Mindanao unit of the National Anti-Poverty Commission (NAPC) are cooperating to localize the task of the interagency task force for the purpose.

To be localized is the Bayanihan Federalism draft of the committee, which would be consulted with the bureaucracy, the localities in

the country, as well as the other federal advocate groups such as the Kilos Pederal sa Pagbabago (KPP), led by Davao lawyer Aristeo Albay and Partido Demokratiko ng Pilipinas (PDP), the party of President Duterte.

The two federal groups have their own versions of a federal setup, and advocates here said the task force “need to do massive consultations among them and the citizens.”

What was emerging in the discussion of the draft was the importance of the barangays as federal-ready, said former University of Mindanao Prof., Adrian Tamayo, currently director for media relations of the MinDA. The MinDA is the government socioeconomic planning body for Mindanao.

He said the barangays “are in the process of becoming a federal system.” “ The barangay as support base of the federal advocacy is one we

should not miss,” Tamayo told a weekend news forum at the Basti ’s Brew at Victoria Plaza Mall. He added federalism must be inclusive and “massive grassroots participation is important.” “ W hen the proposa l to shift to federa l system is done in Congress and in the ratification the yes vote prevailed, the loca l gover nment executives wou ld be there until elections are held,” said Benjamin Velarde, the DILG Reg ion 11 foca l person on federa lism.

He said “once we have a federal constitution, the regions would come up with Organic Act which would be submitted to the citizens in the region for adoption.”

During this process, Velarde said, “the transition mechanism is needed to ensure smooth transfer of goverment control.”

“Once a warlord will challenge peace and order, the military will step in to check,” he said.

A4 Thursday, May 2, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

www.businessmirror.com.ph

Govt eyes postelection day issuance of JAO to end port congestion, regulate shipping fees

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By Elijah Felice E. Rosales

@alyasjah

TATE agencies are finalizing the joint administrative order (JAO) that seeks to address port congestion and regulation of high shipping fees for possible issuance after the May 13 midterm polls.

In a text message to reporters, Trade Undersecretary Rowel S. Barba said the government is nearing to conclude the JAO originally scheduled to be issued last month.

State agencies involved in the crafting of the order will meet for the last time to agree on its final provisions and probably promulgate it

after this month’s elections. “[The JAO is] for final scrubbing by agencies, [and we] hope to meet to finalize immediately after [the] elections,” Barba said.

He disclosed the government is “still working on the provision on suspension of charges.” Aside from stabilizing yard utilization

rate, the order will include measures regulating fees imposed by shipping lines in a bid to reduce the operating costs of traders.

The Bureau of Customs (BOC) in April reported the yard utilization rates for two of the major ports in Luzon were reduced due to efforts undertaken by the government and the private sector.

According to the BOC, the Manila International Container Port reported a yard utilization rate of 70 percent, while the Port of Manila at 69 percent for April. This was an improvement from the January level of 90 percent for MICP and 95 percent for POM. The BOC attributed the lower yard utilization rates to efforts implemented by the government and port operators Asian Terminal Inc. (ATI) and the Interna-

tional Container Terminal Services Inc. (ICTSI).

Overstaying laden containers at the POM were shipped out to the ATI yard in Batangas to free up space in the port. On the other hand, ICTSI has been offering waived fees, rebates and incentives to encourage importers to claim their laden containers on days when transactions and port activity are typically slow.

The Philippine Exporters Confederation Inc. (Philexport) in

March appealed to the government to roll out measures that will assist the sector recover, including the issuance of the JAO. Philexport President Sergio R. Ortiz-Luis Jr. pointed out it is urgent for the government to resolve the problems holding back the export sector from rebounding. He listed regulating shipping charges and decongesting the ports—both of which main components of the JAO—as measures that will certainly help exporters.

“[The JAO is] for final scrubbing by agencies, [and we] hope to meet to finalize immediately after [the] elections.”—Barba

House pushes creation SBMA to close down erring truck traders of TWG for water security master plan S

By Henry Empeño Correspondent

By Jovee Marie N. Dela Cruz @joveemarie

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O avert future water shortage, the House of Representatives has mandated six government agencies and offices to create a technical working group (TWG) that would formulate a water security master plan.

This, after the lower chamber adopted House Resolution 2547 and 2548, which seek to create a TWG on water shortage mitigation and formulate a water security master plan to secure and sustain the supply of water for household, commercial, and industrial uses in Metro Manila and other parts of the country.

House Resolutions 2547 and 2548, authored by former President and now Speaker Gloria MacapagalArroyo and Committee on Metro Manila Development Chairman Rep. Winston Castelo of Quezon City, both aim to avoid the recurrence of water shortage in Metro Manila.

At present, the resolutions said the National Capital Region (NCR) and Region 3 obtain most of their water from the Angat Dam, a hydroelectric facility in Bulacan, which may no longer sustain the needs of the regions in the coming years.

HR 2547 seeks to direct the Metropolitan Waterworks and Sewerage System (MWSS), the National Water Resources Board (NWRB), the Local Water Utilities Administration (LWUA), the Department of Agriculture (DA), the National Irrigation Authority (NIA), the Metro Manila Water Co. Inc. (MWCI), and the Maynilad Water Services Inc. (MWSI) to form a TWG to prepare and implement water shortage mitigation strategies.

These strategies would include cloud seeding by the DA, cross-border sharing, recycling of used water, arresting the causes/sources of nonrevenue water, and exploration of new water resources and technology.

It also prods the Philippine government and the private sector to work together to achieve a common goal of sufficient and sustainable water supply through a holistic and feasible plan.

Meanwhile, HR 2548 particularly calls for the MWSS, the MWSS Regulatory Office (MWSS-RO), the NWRB, the LWUA, the Bureau of Soils and Water Management (BSWM), the NIA, the MWCI, and the MWSI to put together a water security plan to identify sustainable water sources for the growing water supply requirements as soon as possible.

The recent water crisis faced by the Metro Manila residents serves as an eye-opener that urges the

government regulators to be more proactive in immediately addressing water service problems, especially in the dry season.

The measures also recognize that water sources, including rivers, lakes, reservoirs, groundwater and rainfalls, are currently being threatened by the following: (a) pollution caused by human tampering, (b) intense consumption due to urbanization, (c) inefficient use, (d) natural disasters that damage dams and waterways with debris and contaminants, (e) man-made disaster such as war and terrorism, and (f) climate change.

Steady supply

HR 2548 said on March 18, 2019, the MWSS already reported numerous projects to the House Committee on Metro Manila Development which will ensure a steady supply of water.

During the recent hearing of the committee, MWSS Administrator Reynaldo Velasco announced the constructions of dams and other possible sources of water as longterm solutions on the water crisis in Metro Manila and nearby areas.

According to Velasco, the Manila Water will sign a joint-venture agreement with Enrique Razon and San Lorenzo Ruiz Water Development Corp. of Oscar Violago for the construction of a new dam, saying this dam will have a capacity of 500 million liters per day (MLD).

Also part of long-term solutions, Velasco said, is the construction of the Chinese-funded 600-MLD Kaliwa Dam. But Velasco said the MWSS is now reviewing the construction of the 1,800-MLD Laiban/Kanan Dam due to the high number of squatter residents in the area.

Velasco said the MWSS is now looking to other possible new sources of water which include: 500-MLD Rehabilitation of Wawa Dam; 800-MLD unutilized water from Angat-Norzagaray; 350-MLD Bayabas Dam, 188-MLD Sumag River Diversion Project.

Velasco also disclosed the constructions of tunnels and aqueducts from Ipo Dam to Bigte Norzagaray and from Bigte to La Mesa Dam. Velasco, meanwhile, said MWSS’s short-term solutions include Maynilad’s transfer of 10 MLD of their water allocation to Manila Water at the La Mesa Portal; energization of 100-MLD Cardona Rizal Water Treatment Plant; cross-border gate valve opening, which has a total of 50 MLD treated water from Maynilad, reactivation of standby 101 deep wells with approximately 100 MLD and deployment of mobile water tankers.

UBIC BAY FREEPORT—The Subic Bay Metropolitan Authority has given an ultimatum to some 88 truck trading companies here to shape up and comply with SBMA rules and policies in one month’s time, or face closure of operations.

SBMA Chairman and Administrator Wilma T. Eisma said the Subic agency has given truck traders here until June 1 to resolve issues on visa and correct violations of SBMA rules in order to keep doing business in Subic.

“I am sick and tired of businesses not following SBMA rules and regulations. I am sick and tired of businesses who think they could get away with [violating rules],” Eisma said during a meeting with vehicle trading firms at the Subic Bay Exhibition and Convention Center on Monday.

Eisma warned the business locators that the SBMA has the power to preterminate contracts, including those that govern industrial parks inside the Subic Bay Freeport, without need for court action upon any violation by an investor-firm of the terms and conditions of its lease agreement with the SBMA. The SBMA may also revoke, suspend or cancel the registration of any company if the firm violates any of the terms and conditions of its lease with the SBMA, she added.

The SBMA chief issued the ultimatum after the Subic agency found at least 11 violations and issues committed by several truck trading firms in the free port. These included problems on working visa and royalty, as well as violation of policies on working permit, importation, use of marshalling yard, subleasing, occupancy and use of leased property, parking, and environment.

SBMA records show a total of 88 vehicle trading companies operating in Subic, the only free port in the country wherein the

SUBIC Bay Metropolitan Authority Chairman and Administrator Wilma T. Eisma urges truck traders in the Subic Bay Freeport to comply with SBMA policies and rules, or else face revocation of their permit.

importation of used vehicles and heavy equipment from abroad is allowed by law.

Most of these companies are either owned by foreign nationals or employed alien workers.

During the meeting, Eisma specifically railed against the practice by some truck traders to secure only one work permit for multiple employees.

She added that some trading firms also sponsor foreign workers to secure work visa for a fee, or allow other firms to use their importation privileges also for a fee.

“It has been brought to my attention by the Bureau of Immigration that some of your employees are out here working without working visas. If your work visa is only for one company, you cannot work for another company here in Subic,” Eisma told the traders and their staff.

Eisma said that the SBMA has submitted the names of erring companies to the Bureau of Immigration. “If I were you, I will fix this problem before the investigators come,” she said.

The SBMA official also stressed that the locators’ importation privi-

leges are provided for under their individual Certificate of Registration and Tax Exemption, and hence was not transferable.

“If you allow your importation privileges to be used by somebody else, and make it appear as yours, it is a violation of the SBMA rules and regulations. For this, I will not hesitate to preterminate your contract,” Eisma said.

Eisma also noted a huge time lapse between the issuance of admission permit for imported trucks and the actual pullout of the vehicles. This and the practice of some companies to import more than the volume allowed for their leased areas lead to the illegal parking of these imports on the side of the roads, she said.

Calling the illegally parked vehicles a bane to road users, Eisma said she would press for stiffer penalties.

“I want to make it hurt for them because they seem not to mind the small fines,” Eisma said. “If they were selling the trucks for several million apiece, then they won’t mind shelling out a bit for illegal parking. The fines should be way, way much higher.”

BI tightens entry rules on aliens intending to work in Philippines

By Joel R. San Juan @jrsanjuan1573

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HE Bureau of Immigration (BI) has vowed to tighten the rules on the issuance of permits to foreign nationals working in the Philippines.

BI Commissioner Jaime H. Morente made the announcement after Justice Secretary Menardo I. Guevarra led the signing on Wednesday of the Joint Guidelines on the issuance of work permits to foreign nationals. Other signatories to the guidelines were Labor Secretary Silvestre H. Bello III and Revenue Commissioner Caesar R. Dulay and Morente.

The Joint Guidelines regulate the issuance of special work permits (SWP), provisional work permits (PWP) and alien employment permits (AEP).

It clarifies that the BI may only issue an SWP to an alien who intends to work in the country outside of an employment arrangement.

Meanwhile, an alien intending to work pursuant to an employment arrangement is required to obtain an AEP from the Department of Labor and Employment.

An AEP will be issued only if no Filipino is available to perform the work which the foreign applicant seeks to undertake.

Pending issuance of such AEP, the alien may work in the country only if he or she has secured from the BI a PWP which has a maximum effectivity of six months only.

Applicants for work and employment permits will also be required to obtain Tax Identification Numbers from the Bureau of Internal Revenue.

This shift in policy was implemented following concerns in the rising number of foreign nationals working in the Philippines.

“We saw a rise in the number of foreign nationals in the previous years due to emerging industries such as the online gaming industry,” said Morente.

“Issues and challenges only appear now. This has never been a problem in the past because of the relatively smaller number of foreign nationals working in the Philippines then,” he added.

Morente explained that the previous regulation in the issuance of SWP did not have any restrictions, apart from the duration.

“The old system was prone to abuse, hence we saw the need to tighten our regulations to ensure that jobs that can be done by Filipinos will not be given to foreigners,” he stated.

Based on its records, the BI said it had issued a total of 83,760 SWPs, while the Department of Labor reported issuing a total of 54,241 AEPs, which is the primary requirement for securing the 9(g) visa.

An SWP allows a foreign national with a tourist status to render service for a maximum period of six months, and does not bind a foreigner in an employeremployee arrangement.

On the other hand, a 9(g) visa is a working visa for aliens employed in the country, with contracts usually lasting for one to three years.

DENR official welcomes DILG order to enforce ‘no STP, no permit’ policy

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N official of the Department of Environment and Natural Resources (DENR) lauded the Department of the Interior and Local Government (DILG) for imposing on all local government units (LGUs) a “no STP, no permit” policy for business establishments.

“The policy will ensure compliance of the Clean Water Act and the order of DENR Secretary Roy A. Cimatu requiring all business establishments to either connect to sewer lines or put up their own sewage treatment plant [STP],” DENR Undersecretary Jonas R. Leones, Cimatu’s designated spokesman, told the Busi-

nessMirror in an interview.

“The interagency cooperation between the DENR, DILG and DOT [Department of Tourism] is ideal because it demonstrates the Duterte administration’s resolve to address water pollution, like in Boracay and Manila Bay,” Leones, also the DENR’s undersecretary for policy, planning and international affairs said.

Leones was reacting to Interior Secretary Eduardo M. Año’s call to LGUs not to issue building permits to establishments unless their design of the hygienic septic tank or wastewater treatment facility conforms to existing environmental laws and policies.

What happened in Boracay, Leones said, can be avoided in other beach resorts or tourism spots had the policy been implemented a long time ago.

“We also appreciate the DILG ordering every barangay to clean up esteros within their jurisdiction,” Leones said, noting that the indiscriminate dumping of garbage do not only pollute waterways but also cause clogging that cause flooding in many areas.

The DENR official said Cimatu has issued an order mandating all business establishments, particularly in Boracay, the country’s top tourist destination in Malay, Aklan,

and Manila Bay area to connect to sewer lines or have their own STPs installed as mandated by the Clean Water Act of 2004.

The DENR, DILG and DOT are major players in the rehabilitation of Boracay and Manila Bay, forming part of the interagency bodies tasked to conduct the massive rehabilitation.

While the DENR is issuing ceaseand-desist orders along with Notice of Violation to business establishments that fail to comply with environmental laws, the DOT is holding the issuance of accreditation to establishments that contribute to environmental degradation. Jonathan L. Mayuga

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Thursday, May 2, 2019 A5

BAI: Meat imports up 29.25% in Jan-Feb

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By Jasper Emmanuel Y. Arcalas @jearcalas

HE country’s purchases of imported meat jumped by nearly a third in the first two months of the year, with pork accounting for the bulk of the import volume, according to data from the Bureau of Animal Industry (BAI).

Data from the BAI showed that meat imports in January and February went up by 29.25 percent to 138,235.097 metric tons (MT), from 106,950.605 MT a year ago.

The Meat Importers and Traders Association (Mita) attributed the increase to the possible “spillover effect” from the Christmas season.

“Recall the high meat prices going into the fourth quarter of 2018.

This incentivized imports but not all could make the season,” Mita President Jesus C. Cham told the BusinessMirror via SMS. BAI data showed that pork imports during the two-month per iod accou nted for nea rly 40 percent of the total volume. Pork

imports expanded by 9.21 percent to 54,772.793 MT, from 50,152.813 MT on the back of higher purchases of offal and bellies.

Offal accounted for the bulk of the total pork imports as it reached 27,457.087 MT, 21.75 percent over the 22,552.840 MT recorded in the first two months of 2018.

Data from the BAI indicated that purchases of imported bellies grew 18.84 percent to 6,590.44 MT, from 5,545.692 MT a year ago.

Chicken meat imports during the period rose by 56.72 percent to 53,350.758 MT, from last year’s 34,041.139 MT. Figures from the attached agency of the Department of Agriculture

also showed that all chicken cuts, except for rind skin, posted increments, with some expanding by as much as 1,806.89 percent.

Chicken leg quarter imports nearly tripled year-on-year to 19,409.051 MT, while chicken cuts rose by 436.12 percent to 4,597.708 MT, from last year’s 857.590 MT. Purchases of imported chicken fat ballooned to 503.420 MT, from just 26.4 MT a year ago.

Data from the BAI indicated that purchases of imported mechanically deboned meat of chicken rose by 9.05 percent to 28,298.667 MT due to higher demand from local meat processors.

Beef imports were also higher by 50.88 percent on an annual basis, with shipments reaching 23,417.255 MT. All cuts registered double-digit growth.

Purchases of imported beef cuts rose by 62.87 percent to 15,733.136 MT, while choice cuts increased by 31.20 percent to 1,364.105 MT. Shipments of fats and offals expanded by 34.86 percent and 28.25 percent yearon-year, respectively.

The country’s meat imports in 2018 rose by over a fifth to a record high of nearly 850,000 MT as processors’ demand for raw materials expanded.

BA I d at a showed t h at to tal meat imports last year rose

by 22.73 percent, from 2017’s 691,462.564 MT. “I think the data will show that when local prices are expensive then the producers and consumers look for alternatives,” Cham told the BusinessMirror in an interview in February.

industry’s liberalization.

The wholesale and retail prices of both well-milled rice (WMR) and regular-milled rice (RMR) declined on a weekly and annual basis, PSA data also showed.

“Compared with the previous week’s level of P40.30 per kg, the average wholesale price of wellmilled rice at P40.16 per kg was lower by 0.35 percent this week.

Likewise, it decreased further by 1.79 percent from the same week of previous year’s level of P40.89 per kg,” the PSA said.

“From the previous week’s level of P43.98 per kg, the average retail price of well-milled rice at P43.87 per kg declined by 0.25 percent,” it added.

The wholesale price of RMR fell slightly to P36.40 per kg from the previous week’s P36.61 per kg, while it was 2.44 percent lower compared to its year-ago level of P37.31 per kg.

“Compared with the previous week’s level of P39.82 per kg, the average retail price of regularmilled rice at P39.55 per kg went

down further by 0.68 percent during the week,” the PSA said.

“Relative to its previous week’s annual level of P39.91 per kg, it dropped by 0.90 percent,” it added.

The average farm-gate price of unhusked rice usually declines during the harvest months of March and April. Farmers’ groups said, however, that the level would plunge below profitable levels due to the anticipated influx of imports.

Since mid-February, the farmgate prices of palay have been declining, which government officials attributed to speculation.

The NFA said it would “aggressively” purchase local palay to beef up its buffer stock and cushion the impact of uncertainties that may be created by a new trade regime on the rice sector.

The food agency said it is confident of hitting its paddy rice procurement goal of 14.46 million bags, or 723,000 metric tons (MT), this year after its purchases as of April 15 breached the 2-million mark.

wag Lechon Manok and Andok’s, as well as the booming business of unlimited samgyupsal, he said.

“Beef imports grew because there are now more burger companies locally and more fast-food services are into beef products,” Cham said.

HIGHLAND VEGGIES A vegetable dealer at the La Trinidad Trading Post in Benguet removes leaves from broccoli prior to

delivery to lowland markets. Prices of highland vegetables remain stable as supply remains ample, according to dealers. LAILA D. AUSTRIA

Average farm-gate price of rice slid further in 1st week of April–PSA T HE average farm-gate price of unhusked rice in the first week of April declined by 9 percent to P18.70 per kilogram, from the P20.55 per kg recorded in the same period last year, according to the Philippine Statistics Authority (PSA).

PSA data also showed that the average farm-gate price of palay as of the first week of April was slightly lower than the P18.80 per kg recorded in the last week of March.

Results of the PSA survey indicated that the lowest farm-gate price during April 3 to 9 was recorded in Caraga region at P16.33 per kg.

T he highest average pa lay quotation was observed in Central Visayas region at P21.21 per kilogram, PSA data showed.

Despite the decline in the price of unmilled rice, the National Food Authority (NFA) has retained its effective buying price at P20.70 per kg to protect farmers from the detrimental effect of the rice

“If you look at the historical data, when local prices are high, the volume of imports is also high,” Cham added.

The increase in imports also indicates the expansion of local restaurants that serve meat products. He noted as examples the popular Bali-

The NFA said last month that its “palay-buying spree” resulted in the procurement of 2.12 million bags, or 106,000 MT, as of April 15. Of that volume, the NFA said 845,891 bags were bought in April, almost two-thirds of the 1.26 million bags that the NFA bought in the first quarter.

The agency has shifted its focus to more aggressive palay procurement after the President signed the rice trade liberalization law or Republic Act (RA) 11203, and the subsequent signing of its implementing rules and regulations.

The NFA has increased its palay procurement target to 14.46 million bags, or 723,000 MT, for this year after the rice trade liberalization law took effect on March 5.

The NFA’s new goal is nearly double its original procurement target of 7.78 million bags, or 389,000 MT, for 2019. It is also significantly higher than the 1.24 million bags, or 62,000 MT, purchased by the food agency from farmers last year. Jasper Emmanuel Y. Arcalas

28 DOST-formulated herbal drugs up for clinical tests this year

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LOILO CITY—Twenty-eight standardized herbal drugs formulated under the Comprehensive Drug Discovery Program or “Tuklas Lunas” program of the Department of Science and Technology (DOST) are up for preclinical and clinical tests this midyear.

“We are doing formulation studies together with our pharmacists hopefully by the middle of this year we would have 28 formulated standardized herbal drugs ready for preclinical and clinical testing,” Dr. Amelia Guevara, former DOST undersecretary for Research and Development said in a press conference on Tuesday.

She said researchers started the formulation sometime in 2010 but pursued it in 2013 when project funding was released.

The formulations were passed from one laboratory to another as those plant extracts found active by chemists were passed to pharmacists for the formulation, she said.

Guevara said the formulations are targets to become anticancer, anti-diabetes, anti-inflammation and antihypertensive.

Dr. Jonel Saludes, associate vice president for Research and Global Relations of the University of San Agustin in this city, explained that formulation is “preparing plant extracts into something that can be taken or applied.”

“We are preparing something in a form that could be administered or it could be for topical applications,” Saludes said in a press conference.

“We are very hopeful that in a year or two there are several standardized drugs in the market,” she said, adding that the present administration wants many drugs to be reported by 2022.

Guevara said the department lacks researchers as most researchers are overloaded with some projects and administrative works.

Despite this, she assured that the department is ready to fund researches and good science. PNA

Donations, pigs part of Las Vegas’s efforts to cut food waste

IN this March 25 photo, Lisa Garcia packs up uneaten food from the convention area at the Aria resort-casino in Las Vegas. The food will be redistributed by Three Square, southern Nevada’s only food bank. AP PHOTO/JOHN LOCHER

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AS VEGAS—At a farm outside Las Vegas, a herd of pigs feasts on lobster, sausage links and beef. In town, people at a community center sit for a dinner that may include sliders and truffle mac and cheese.

The two meals have something in common: Both came from the kitchens of Sin City’s opulent ca-

sinos, where the axiom of excess is increasingly being reconsidered and waste reduction has taken hold.

The environmental and financial impacts of leftover food are more important than ever to Las Vegas’s world-famous casinos, which in recent years have developed and expanded innovative practices to cut back on what they send to the

landfill by thousands of tons a year.

Food scraps are turned into compost or taken to a farm to feed thousands of pigs. Expired minibar snacks are donated to community organizations. Banquet meals that were never served go to a food bank.

Oyster shells are even shipped thousands of miles to Chesapeake Bay. The comprehensive efforts vary slightly among operators, and some were recently recognized by the United States Environmental Protection Agency (EPA).

Guests of the glitzy mega resorts will never witness the not-so-glamorous efforts, but they exemplify the extent to which companies are going to improve their bottom line and make a dent on a global issue.

“Most people, when they think about recycling, they think about the standard metal, plastic, paper—and the reality is, for an organization like MGM, food, food waste, food scraps is a significant

part of our waste footprint,” said Yalmaz Siddiqui, vice president of corporate sustainability at MGM Resorts International. “Our main approach is to think about the type of food that’s coming out of our operations and directing that type of food to the best destination it could go to.”

In 2016, MGM began donating fully cooked but never-served meals from conventions and other large events to Three Square, southern Nevada’s only food bank.

The company has donated more than 700,000 pounds (317,500 kilograms) of cooked food, kitchen ingredients, minibar snacks and extra food stored at warehouses.

Food bank employees coordinate with MGM’s properties along the Strip and arrive with an empty truck.

They then take the temperature of every potential hot food donation, and if it is above 135 degrees Fahrenheit (57 degrees Celsius), it is pack-

aged in disposable foil pans, placed in a cart and driven to the food bank.

On a recent afternoon, food bank employees picked up more than 250 beef sliders, truffle mac and cheese and stir fry from the Aria casino-resort. Trays of chicken sliders did not meet the required temperature.

The food is then cooled in blast chillers, moved to a warehouse-sized freezer and entered into an ordering system used by charities, including a senior center, Catholic Charities and the Salvation Army.

“Knowing that they are going to help us fight this hunger battle is paramount,” said Maurice Johnson, director of operations at Three Square, adding the 700,000 pounds have been used for 600,000 meals.

“We update our inventory every day. We process orders every day.”

The federal government has estimated more than one-third of all

available food in the US is wasted.

An EPA initiative has partnered with more than 1,000 organizations—including grocers, restaurants and hotels—to tackle the issue. The agency estimated participants in 2017 prevented about 648,000 tons (587,856 metric tons) of food from going into landfills or incinerators, avoiding more than $30 million in landfill tipping fees.

The Trump administration declared April “Winning on Reducing Food Waste Month.” The EPA in March honored MGM’s Bellagio casino-resort for its food recovery efforts. The property last year sent 2,210 tons (2,005 metric tons) of food waste to the pig farm outside Las Vegas, up 16 percent from 2017 and 455 percent from 2015. It also diverted 20,000 pounds (9,072 kilograms) of oyster shells to Chesapeake Bay, where they help restore oyster habitat. AP

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TheBroa

Business

Thursday, May 2, 2019

Activated carbon: The new emb

By Cai U. Ordinario, Jasper Emmanuel Y. Arcalas & Manuel T. Cayon | Mindanao Bureau Chief

D

AVAO CITY AND MANILA— Black is the new color of money; and it grows on trees. Coconut trees, in fact, that are abundant in the archipelago.

According to University of the Philippines economist Ramon Clarete, coconuts grow best three kilometers from the shore and, being an archipelago, the Philippines is naturally endowed with what would seem an endless coastline peppered with rows of coconuts.

The size of the country’s coconut industry has allowed the Philippines to diversify into various products beyond coconut meat and juice. The Philippines produces coconut oil, coir—and, since the 1970s, activated carbon.

Activated carbon (AC), which is midnight black, is fast becoming the Philippines’s major export, a $100-million revenue-generating industry.

The traded commodity, which is made from coconut shells, has been posting a compound annual growth rate (CAGR) of 17.92 percent since 1991.

Demand comes from markets that use activated carbon— charcoal that has been heated or otherwise treated to increase its adsorptive power—for industries that cater to health care, mining, water filtration, air purification and others.

At the consumer level, activated carbon is used for health products such as toothpaste and toothbrush, and skincare products, including facial masks and creams.

Demand for food infused with AC has been also steadily growing in the domestic market such as lemonade and frozen yogurts.

AC trade

THE global trade in activated carbon in terms of US dollar value has been growing at a CAGR of 8.21 percent, which is projected to hit a faster pace in the short term to medium term due to global environmental laws encouraging the use of AC. The major players in terms of value are China, the United States, India, Germany and the Netherlands, according to International Trade Center (Intracen) data.

The Philippines is the seventh top exporter of AC in the world just behind Belgium.

The major AC importers in terms of value are the US, Belgium, Germany, Japan and China, Intracen data also showed.

The Philippines, to note, has been exporting AC for over five decades already, according to industry sources.

Last year alone, the country exported 76,992 metric tons (MT) of AC, which was valued at $135.187 million, the third straight year that total export receipt is above $100 million.

Total outbound shipment volume last year was 5.73 percent higher than the 72,819.893 MT exported in 2017, while the revenue was 20.03 percent over year-onyear.

Shipments of AC accounted for 7.18 percent of the total $1.882-billion worth of coconut products the country exported in 2018.

The Philippines exports AC to over 68 countries today, more than double the 25 markets it used to ship the commodity to way back in 1991, PSA data showed.

In 2018, Germany was the top buyer of Philippine-manufactured AC, with a market share of 16.2 percent in terms of value, with Japan trailing slightly behind at 15.1 percent.

Industry sources attributed the growth of Germany’s imports to its laws encouraging the use of

organic materials to reduce pollution, provide cleaner water and better health options.

And yet, in 1991, Germany could have been easily bumped off the Philippines’s radar as it only accounted for a measly 0.0429-percent market share of the total exports.

Commodity ‘unknown’

ACTIVATED carbon is one of the country’s global leaders, Philippine Coconut Authority (PCA) Trade Information and Relations Chief Luz Brenda P. Balibrea told the BusinessMirror.

Global leaders are export products that earn hundred millions of dollar but below the $1-billion mark, she explained. In fact, Balibrea noted, AC ranks third among the country’s traditional exports of coconut products.

Despite the export receipt that the country earns from AC, the commodity remains “unknown” to Filipino consumers, coconut planters, and even to policy-makers.

“It is one of our global leaders and yet it is unknown to many,” she said. “It is unknown not just to coconut farmers but to the Filipino people—they do not know it as a whole.”

Clarete said the lack of awareness on AC stems from various reasons, one of which is the fact that the Philippines seemed to have rested on its laurels, having been a major player in coconut oil exports in the 1970s. He said the Philippines, knowing it had secured a position in the global coconut oil market, did not see the need to explore other uses for the coconut, such as dealing with waste or coconut shells. He said it took a Japanese investor to see the incredible potential that the country had in producing activated carbon.

The Philippine-Japan Active Carbon Corp. (PJACC), according to its website, was established in 1972 as “the only company granted by the government to operate at 100-percent Japanese capitalization.” It is a pioneer in the field and is now one of the largest coconutbased AC manufacturers in the world.

“Japan saw the importance of activated carbon in a particular industrial product, which can be found in the Philippines,” Clarete said.

Tool for mining

ACCORDING to Balibrea, while “activated carbon is part of our daily lives”—AC could be found from a tablet of a popular loperamide brand to water purifiers—it is used in gold mining operations.

According to Philippine Activated Carbon Manufacturers Association (Pacma) Inc. President Isidro T. Ang, the local small-scale mining operations at the height of the gold rush in Mindanao were big users of activated carbon as it is used with cyanide in extracting gold dust.

Small-scale miners use two methods of extracting gold. One is the ball mill method, where the machines pound and crush the ores and stones into finer grains and then subject them to mercury for the extraction of the gold dust.

The other method is the “carbon in-pulp,” which processes pulverized ores in a vertical tank by immersing these in cyanide. Activated carbon, in 4x8 mesh-sized granules, is used to magnetize the gold dust from cyanide.

Likewise, burning the AC is

one of two methods to get the gold from the carbon.

“One good thing these miners like with AC is that the used carbon can still be reused,” Ang said in an interview with the BusinessMirror at his office in Davao City on April 24.

Innovations hobbled

UNIVERSITY of Asia and the Pacific (UA&P) Center for Food and Agribusiness (CFA) Executive Director Rolando T. Dy explained that production of coconut-based products like activated carbon is based on where the raw materials are sourced. This reduces the logistics costs, which is still steep in the Philippines.

This is the reason a lot of coconut products come from Mindanao, particularly Davao and General Santos, where a lot of coconuts are planted, Dy explained.

Ultimately, Dy told the BusinessMirror, what prevented the Philippines from becoming a top producer of activated carbon is the fact that very little support is given to the coconut sector in general.

This would explain why innovations could not be introduced in the sector.

Despite these problems, activated carbon can be a sunrise industry, according to Dy. But for this to happen, coconut farmers should be organized. This will help address supply challenges and determine how best to maximize their earnings.

He said farmers can determine how much coconut shell is needed to produce a kilo of AC and how best it can be collected.

In the process, this can also help determine logistics costs and challenges to bring these products to manufacturers and eventually to consumers.

COCONUT trees on the island of Siargao in the Mindanao region. DARREN GREEN/DREAMSTIME.COM

Textile route: from boom to bust

CLARETE said, however, only by adopting a value chain approach can the government see other potential winners. Hence, this must be accompanied by necessary public investments in research and development.

He said in order for the country to seize the opportunities in the global activated carbon market, researches should be done to determine other uses for the product and how best to produce it. He said institutions such as the UP College of Home Economics can study its properties and this, in turn, can be funded by a grant from the Department of Science and Technology (DOST).

Clarete said failing to do this will only repeat the country’s mistakes in industries such as textiles. Initially, the Philippines was a major player in textiles but innovations made by other countries diminished the country’s competitiveness in textile production. The lack of investments in creating more innovative products caused the Philippine textile mills to suffer great losses which they have not been able to recover from until today.

Dy also lamented that 75 percent of the government support extended to the farm sector goes to rice. This despite the fact that in terms of hectares, land planted with coconut is more than the 3 million hectares that is dedicated to rice production.

“This is the reason why you cannot ‘see’ activated carbon. In fact congressmen and senators do not know this. [For them,] our major export is coconut oil then desiccated, refined,” he told the BusinessMirror. [Demand is also increasing for] other products [such as] VCO [virgin coconut oil], coconut water, coconut shell, coco coir. But there is no powerful interest pushing for self-sufficiency [in coconut].”

Average capacity utilization

CLARETE also believes the Philippines must determine whether

ACTIVATED carbon from coconut PAKPOOM MUONGTONGLRANG/DREAMSTIME.COM

activated carbon is a concern of the Department of Trade and Industry or of the Department of Agriculture.

“So that’s coordination at the level of the government. The roles and involvement of DA and DTI must be clarified, where their responsibilities begin and end,” he added. “[It is also important to determine] what are the value-chain issues [in AC] that are supposed to be addressed. Policy or information [and] the last is really giving free credit.”

Dy said these studies can help determine the average capacity utilization of manufacturers and the challenges they face in producing activated carbon. He said that a capacity utilization of 50 percent is not enough reason to increase businessmen’s interest in activated carbon. The average capacity utilization of the entire manufacturing sector averaged 84.3 percent based on the results of the Philippine Statistics Authority (PSA) Monthly Integrated Survey of Selected Industries (MISSI) in February.

Ultimately, Dy said the government must adopt a multiproduct approach when it comes to coconut. This will also address wastage issues in the coconut industry, especially where AC is concerned.

Threat: raw coco charcoal export surge

COCONUT-SHELL charcoal is the primary raw material for the country’s activated carbon manufacturing. But that same material is now threatening the country’s global stature as top exporter of activated carbon.

The local AC industry has been self-sustaining for years that it has been thriving and even expanding without any government support.

Balibrea noted that the spike in exports of coco charcoal has been flagged by local AC manufacturers as a threat to their industry.

“Our export of raw charcoal has been rising and it’s a threat to the supply of local AC manufacturers,” she told the BusinessMirror. “And according to AC manufacturers, it is also dangerous to

export raw charcoal if not properly packaged or stored as it could catch fire while being shipped.”

Balibrea said shipments of raw coco charcoal rose in recent years due to high demand from other AC manufacturers such as China and Japan, especially since Philippine coconuts are the best source of charcoal.

Since, the government has no existing laws or orders that regulate raw coco charcoal exports, the PCA could not do anything about it, Balibrea added.

“So, that is one of the things we are studying or looking into right now. We are thinking of how to regulate the coco charcoal exports,” she said.

The country’s coconut-based charcoal exports in 2018 expanded by 136.39 percent to a record-high 88,357.008 MT, from 37,377.190 MT recorded in 2017, PSA data showed.

Exports receipt

TOTAL exports of coconut-based charcoal last year was 15,537.115-

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, May 2, 2019

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ber warming up PHL economy lize in their operations, she added.

Desiccating factories purchase de-husked coconuts from farmers with the coconut shell becoming a waste after the whole extraction process.

“Imagine if you can capture the volume of coconut shells being wasted in coconut oil production for activated carbon manufacturing,” she added. “Plus if you can cluster the producers and improve their production and integrate the whole value chain.”

Reducing waste

ISIDRO T. ANG, president of Pacma MANUEL T. CAYON

MT higher than the total AC shipped by the country to the global market.

In March this year, Pacma members exported 3,350 tons. Including the country’s biggest producer based in Cebu, exports would reach 4,350 tons, which would be equivalent to $7.5 million.

“This is roughly the monthly production of the industry,” Ang said.

Export receipts from coconutbased charcoal more than doubled to an all-time high of $47.634 million from $21.680 million in 2017, PSA data showed.

From 1991 to 2018, coconutbased charcoal export receipts posted a CAGR of 16.80 percent, while its shipment volume had a CAGR of 45.87 percent.

In 2018, China dethroned Japan as the top buyer of Philippine coconut-based charcoal, a position held by the latter since 1991, PSA data showed.

China’s import volume of coconut-based charcoal expanded by 232.55 percent year-on-year to 30,398.636 MT, which overshadowed the 29.06-percent increase in purchase of Japan, trimming its market share to 30 percent from the usual above 50-percent level.

However, in terms of export receipts, Japan still remains on top. Total purchase by Japan last year was valued at $20.282 million (a 34.36-percent increase year-on-

year) compared to the $12.626-million export receipt to China.

Nonetheless, the sudden surge in purchase of coconut-based charcoal by China drove its import bill to expand by 228.96 percent yearon-year.

Dealing with supply

THERE are about 21 AC manufacturers/traders/exporters in the country, the 2018 Philippine Coconut Authority (PCA) trade directory showed.

Aside from supply competition with raw charcoal exporters, AC manufacturers are facing a problem now that seems to be their own doing.

Davao, the country’s top AC producer and where six manufacturers are located, is experiencing saturated supply conditions due to stiff competition.

Since most of the AC manufacturers are in the Davao region, they tend to elbow each other out to grab the available domestic coconut shell supply.

“In fact our charcoal utilization—considering our total exports abroad—compared with our annual coconut production, is very minimal,” Balibrea said.

“But the problem and issue now is that most of our AC manufacturers are in one region, in the Davao region. So right now, they are competing with one another to get coconut shell supplies.”

AC manufacturers and investors located themselves in Davao since it is the country’s top coconut-producing region with an annual nut output of 1.9 million metric tons.

Furthermore, the region is a strategic export location as it has logistical capacities such as ports and airports.

“Perhaps the investors also overlooked that there are already a lot of AC manufacturers in Davao since investments are not being regulated,” Balibrea said.

In 2018, Davao Region accounted for more than half of the total coconut shell-based AC exports with its total export receipt reaching $67.285 million, 56.71 percent over $42.933 million recorded in 2017, PSA data showed.

Capital-intensive

ASIDE from coconut shell charcoal, activated carbon is being sourced from wood, coal and shells. Coconut shell charcoals are commonly preferred by local clients because of their capacity to be reactivated, or recycled.

Activated carbon is classified into three types according to the size and density of porosity: the macro type, with bigger pores (wood); the micro type (coconut shell) and the meso type, which is mid-macro and mid-micro (coal).

Due to supply issues in Davao, the PCA is now promoting other coconut-producing regions as an alternative area for new interested AC investors in the country, Balibrea said.

Among the regions that PCA is promoting to be a next hot spot for AC manufacturing are Bicol, Zamboanga and Soccsksargen, she added.

Balibrea said that establishing an AC manufacturing plant is capital-intensive, with just one component of the whole process costing at least P40 million. The total investment for a new AC player could reach at least P100 million.

Based on PSA data, Region 10 is the next top coconut-producing region with an annual output of 1.82 million metric tons followed by Re-

gion 9 with 1.63 million metric tons.

However, the promotion of alternative areas for AC production could be hindered by some logistical concerns, particularly the sourcing of raw materials.

For one, most of the Filipino coconut farmers are small-holders and unorganized, which makes it difficult to consolidate and procure coconut shells, the primary source for coconut charcoal production.

Worse, the procurement of coconut shells in some areas like Bicol and Samar is challenging due to lack of proper infrastructure that would facilitate shipment of goods.

“Our real problem is that our coconut producers are small-holders who are at the mercy of the traders. They are unclustered and that is a logistical issue,” she said.

“Unlike in Davao, it’s one huge cluster and you can just buy all the shells. Perhaps it is because the essence of cooperatives or collective marketing is not yet rooted in our industry,” she added.

Appraising prospects

THE Philippines produces around 15 billion coconuts annually, more than half of which goes to coconut oil production, based on a BusinessMirror analysis.

A metric ton of coconut oil requires about 8,316 nuts.

This means if the Philippines exports about 1 MMT of CNO annually, then it needs 8.316 billion nuts to produce such volume.

Majority of these coconut shells are just left rotting in the farms or used by planters for fuel purposes, as they only need the dried coconut meat or copra to sell to traders and CNO producers, Balibrea said.

The sale of coconut shells to AC manufacturers could provide additional income for copra farmers.

However, it’s a logistical nightmare for AC manufacturers to collect the coconut shells from small-holder farms since they are dispersed, Balibrea said.

What AC manufacturers could do is to partner up with desiccating factories to purchase left-over coconut shells which they do not uti-

BILLIONS. This is what cost the government for being myopic in its policy regime on the coconut industry by focusing on one export product while shying away from diversification, Balibrea pointed out.

“It’s just like love: someone comes to your life, loves you, but you are looking [the other way],” she said.

“There’s really a disconnect.”

And in this love story, AC could be the hopeless romantic. “That’s why if you look at it, my God, for so many years we’re throwing away billions of money!” Balibrea remarked.

Furthermore, the PCA official pointed out that there is also a disconnect between policy-makers and the people on the ground.

More likely than not, information on coconut product diversification does not reach the ground or is properly disseminated to farmers.

This, Balibrea pointed out, has resulted in farmers focusing merely on producing copra for the extraction and export of CNO. “That’s the only thing our farmers know, coconut oil. But in reality, a lot of products could be made out of coconut,” she said.

“From generations to generations, farmers only know to make copra for CNO. This is the only thing the industry knows. There are just some disconnects, especially in information. We have a lot of products—not just copra—which we did not focus on,” she added.

Boosting competitiveness

ANG is appealing to the government to stop businessmen and business groups from continuing their export of raw coconut shell charcoal, citing the critical low level of supply during the last two years.

He said this is one of Pacma’s several recommendations so that businessmen could stay afloat in the stiff competition among the four leading Asian exporters of AC—India, the Philippines, Sri Lanka and Indonesia—that all rely heavily on coconut shells for production.

Ang said the export of coconut shell charcoal has been going on for years to the detriment of the industry. Direct exportation of the charcoal hurt the industry worst during the long dry spell years of 2016 and 2017, he said.

Before the damaging El Niño two years ago, Pacma members would buy the charcoal at P12 a kilo, according to Ang. In the aftermath of the dry spell, “we have to pay P21 a kilo, erasing the margin of profit.”

He added that with scarce supply, only 50 percent of the respective production requirements of companies engaged in producing AC is met.

At Premium AC Corp. in Davao, of which he is also the president, Ang said only two or three rotary kilns would be operated.

The factory would need 100 tons of charcoal daily to run all its five rotary kilns.

Besides, he added, the dwindling supply would also force the market to shell out additional money to scramble for the available charcoal.

“It’s a double whammy actually: there’s a lack of raw material and the available materials carry a high price,” Ang said.

Open to competition

ANG told the BusinessMirror Pacma also hopes that “companies and the public would stop using coconut shell charcoal as their direct

source of fuel.”

Some companies, like those engaged in desiccated coconuts, also use coconut shells to feed their boilers.

The combined charcoal used directly by these companies and households for fuel would add up to the competition for coconut shell charcoal.

The industry has yet to come up with the current total accounting of the coconut shell charcoal exported directly and the total volume of these charcoal used directly as household fuel.

With the lack of materials, AC producers have to spend more to acquire the raw materials.

Pacma also hopes the PCA would “be more aggressive with replanting coconut lands” as majority of existing trees are senile.

“It would also help the industry well if [the PCA] would also set up a good transport system to bring the copra [coconut meat], the coconut shells and all other coconut tree products onto highways and [to] the markets,” Ang said.

He said there had been steady feedback from farmers and visitors that coconut shells were being dumped along farm roads and empty lots but away from the roads and highways.

What Pacma also wants to happen “is to control or contain the competition for the raw materials,” a “very good source” of which is Mindanao.

“What we wish also is for the competition to be controlled because we would not like to be in a situation where we would all be scrambling and competing for raw materials.”

This year, two more companies are going into activated carbon production using coconut shell as raw materials.

“There is one in Pagadian, and another one in Tupi, South Cotabato; the latter is still in the construction stage,” Ang said.

Wake-up call; time to move fast

JUST like any lover, Balibrea remains hopeful that change will come to policy-makers for the better future of the coconut industry.

Or maybe sooner, Balibrea hopes, since the coconut industry is struggling to survive amid declining global CNO prices due to a glut in the world vegetable oil market that has sent domestic copra prices plunging below profitable levels.

Domestic copra prices are dictated by global CNO prices since the commodity is the primary source of the Philippines’s top exported agricultural product.

“This is a wake-up call for policymakers and government planning. It is only when you are hurt that you think of other things to do, other things to survive,” she said.

“We were just slow in paradigm shifting—really slow. We move two steps forward, but we also move two steps backward afterward,” she added.

The government has proposed various actions to hike domestic copra prices but to no avail, as much of the recommendations of the PCA and the Department of Agriculture remain pending before economic managers and higherranking officials.

Having a more organized sector will increase not only the number of farmers but also act as impetus for the government to approach activated carbon from a “value chain approach.”

Balibrea believes diversifying into other coconut-based products, such as AC, is the only way for the industry to sustain growth and survive in the long term.

“The activated carbon industry could expand beyond its current growth if the government would support it,” she said. “If ganoon tayo ka-advance mag-isip [If we have foresight] then, we won’t have any problems, unlike today. I would like to believe, it’s not too late; it’s not too late,” Balibrea said.

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Thursday, May 2, 2019

The World BusinessMirror

Editor: Angel R. Calso

POLITICAL CRISIS Violent clashes rock Venezuela VENEZUELA’S EXPOSES DIVISIONS IN E.U. as Guaidó, Maduro vie for power M

AN anti-government protester sits by ammunition being used by rebel troops rising up against the government of Venezuela’s President Nicolás Maduro as they all take cover on an overpass outside La Carlota military airbase where the rebel soldiers confront loyal troops inside the base in Caracas, Venezuela, on Tuesday, April 30, 2019. Venezuelan opposition leader Juan Guaidó and jailed opposition leader Leopoldo Lopez took to the streets with a small contingent of heavily armed troops early on Tuesday in a bold and risky call for the military to rise up and oust Maduro. AP PHOTO/BORIS VERGARA

C

ARACAS, Venezuela— Opposition leader Juan Guaidó took a bold step to revive his movement to seize power in Venezuela, taking to the streets on Tuesday to call for a military uprising that drew quick support from the Trump administration and fierce resistance from forces loyal to socialist Nicolás Maduro.

The violent street battles that erupted in parts of Caracas were the most serious challenge yet to Maduro’s rule. And while the rebellion seemed to have garnered only limited military support, at least one high-ranking official announced he was breaking with Maduro, in a setback for the embattled president.

In a Tuesday night appearance on national television, Maduro declared that the opposition had attempted to impose an “illegitimate government” with the support of the United States and neighboring Colombia. He said Venezuela had been a victim of “aggression of all kinds.”

Meanwhile, Guaidó sought to keep the momentum going at the end of the day by releasing his own video message in which he pressed Venezuelans to take to the streets again on Wednesday.

The competing quests to solidify a hold on power capped a dramatic day that included a tense moment when several armored vehicles plowed into a group of anti-government demonstrators trying to storm the capital’s air base, hitting at least two protesters.

US National Security Adviser John Bolton said the Trump administration was waiting for three key officials, including Maduro’s defense minister and head of the Supreme Court, to act on what he said were private pledges to remove Maduro.

He did not provide details.

The stunning events began early Tuesday when Guaidó, flanked by a few dozen national guardsmen and some armored crowd-control vehicles, released the three-minute video shot near the Carlota air base.

In a surprise, Leopoldo Lopez, Guaidó’s political mentor and the nation’s most prominent opposition activist, stood alongside him. Detained in 2014 for leading a previous round of anti-government unrest, Lopez said he had been released from house arrest by security forces adhering to an order from Guaidó.

“I want to tell the Venezuelan people: This is the moment to take to the streets and accompany these patriotic soldiers,” Lopez declared.

As the two opposition leaders coordinated actions from a highway overpass, troops loyal to Maduro fired tear gas from inside the adjacent air base.

A crowd that quickly swelled to a few thousand scurried for cover, reappearing later with Guaidó at a plaza a few blocks from the disturbances. A smaller group of masked youths stayed behind on the highway, lobbing rocks and Molotov cocktails toward the air base and setting a government bus on fire.

Amid the mayhem, several armored utility vehicles careened over a berm and drove at full speed into the crowd. Two demonstrators, ly-

ing on the ground with their heads and legs bloodied, were rushed away on a motorcycle as the vehicles sped away dodging fireballs thrown by the demonstrators.

“It’s now or never,” said one of the young rebellious soldiers, his face covered in the blue bandanna worn by the few dozen insurgent soldiers.

The head of a medical center near the site of the street battles said doctors were treating 50 people, about half of them with injuries suffered from rubber bullets. At least one person had been shot with live ammunition. Venezuelan human-rights group Provea said a 24-year-old man was shot and killed during an antigovernment protest in the city of La Victoria.

Later on Tuesday, Lopez and his family sought refuge in the Chilean ambassador’s residence in Caracas, where another political ally has been holed up for over a year. They later moved to the Spanish embassy. There were also reports that 25 troops who had been with Guaidó fled to Brazil’s diplomatic mission.

Amid the confusion, Maduro tried to project an image of strength, saying he had spoken to several regional military commanders who reaffirmed their loyalty.

“Nerves of steel!” he said in a message posted on Twitter.

Flanked by top military commanders, Defense Minister Vladimir Padrino López condemned Guaido’s move as a “terrorist” act and “coup attempt” that was bound to fail like past uprisings.

“Those who try to take Miraflores with violence will be met with violence,” he said on national television, referring to the presidential palace where hundreds of government supporters, some of them brandishing firearms, had gathered in response to a call to defend Maduro.

Meanwhile, Foreign Minister Jorge Arreaza said the “right-wing extremists” would not succeed in fracturing the armed forces, which have largely stood with the socialist leader throughout the months

of turmoil.

“Since 2002, we’ve seen the same pattern,” Arreaza told The Associated Press. “They call for violence, a coup, and send people into the streets so that there are confrontations and deaths. And then from the blood they try to construct a narrative.”

But in a possible sign that Maduro’s inner circle could be fracturing, the head of Venezuela’s secret police penned a letter breaking ranks with the embattled leader.

Manuel R icardo Cristopher Figuera, the head of Venezuela’s feared SEBIN intelligence agency, wrote a letter to the Venezuelan people saying that while he has always been loyal to Maduro it is now time to “rebuild the country.”

He lamented that corruption has become so rampant that “many highranking public servants practice it like a sport.”

“The hour has arrived for us to look for other ways of doing politics,” he wrote. “To build the homeland our children and grandchildren deserve.”

The letter circulating on social media was confirmed by a senior US official who spoke on condition of anonymity because he was not authorized to divulge details of the case. He said the general’s wife is currently outside the country.

Guaidó said he called for the uprising to restore Venezuela’s constitutional order, broken when Maduro was sworn in earlier this year for a second term following elections boycotted by the opposition and considered illegitimate by dozens of countries.

He said that in the coming hours he would release a list of top commanders supporting the uprising.

“The armed forces have taken the right decision,” said Guaidó. “With the support of the Venezuelan people and the backing of our constitution they are on the right side of history.”

Anti-government demonstrators gathered in several other cities, although there were no reports that Guaidó’s supporters had taken control of any military installations.

As events unfolded, governments from around the world expressed support for Guaidó while reiterating calls to avoid violent confrontation.

Bolton declined to discuss possible actions—military or otherwise— but reiterated that “all options” are on the table as President Donald J. Trump monitors developments “minute by minute.”

He said he was waiting for key power brokers including Padrino, Chief Justice Maikel Moreno and head of the presidential guard to make good on their commitments to achieve the peaceful transfer of power to Guaidó.

“All agreed that Maduro had to go. They need to be able to act this afternoon, or this evening, to help bring other military forces to the side of the interim president,” Bolton said. “If this effort fails, [Venezuela] will sink into a dictatorship from which there are very few possible alternatives.” AP

Rural Catholic church defies Sri Lanka threats, holds Mass

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HANNAMUNAI, Sri Lanka—The checkpoints started just outside of an east Sri Lanka village, the strictest seen in the days after Islamic State-aligned militants launched suicide attacks that killed over 250 people.

The trucks stopped first, soldiers digging through crates and produce. Buses disgorged their passengers. Cars lined up single file so soldiers could open their hoods to inspect engine blocks and pull everything out of trunks.

The reason became clear soon after, as the sound of hymns filled the air of Thannamunai.

The small village in eastern Sri Lanka held likely the first Mass since Catholic leaders closed all their churches for fear of further attacks.

Under incredibly tight security, worshippers watched a priest be ordained as they hoped for a future when Mass wouldn’t require hundreds of troops armed with assault rifles to defend it.

“People wanted to celebrate Mass, they wanted to participate in this, but they — even myself — were afraid,” Father Norton Johnson told Associated Press journalists who witnessed the Mass. “However, security personnel gave us good protection.”

The Mass in Thannamunai, about 225 kilometers (140 miles) northeast of the capital, Colombo, had been planned at least two weeks earlier to mark the ordination with the participation of some 200 priests. They had expected thousands to attend the ceremony at Saint Joseph’s Catholic Church.

Then came Easter. The morning of April 21, suicide bombers attacked three churches and three hotels. Soon after, the US Embassy in Colombo warned against attending services at any place of worship in the multiethnic nation of 21 million Buddhists, Christians, Hindus

and Muslims.

Catholic leaders closed all their churches.

Cardinal Malcolm Ranjith, the archbishop of Colombo, celebrated Mass this past Sunday at his residence, with the country’s leaders attending. The faithful prayed on their knees at home, watching his homily on television.

Ranjith said on Tuesday that parishioners would form “vigilance committees” to check IDs at church doors and keep anyone with a bag from entering when some Masses resume this weekend.

But the invitations for the ordination in Thannamunai already had been sent out. After confirming with the military, Johnson and other Catholic leaders agreed to quietly hold the Mass for the community. Johnson said he believed it to be the first Mass held in the country, outside of small gatherings for prayers quietly held at

believers’ homes.

What had been expected to be a crowd of 3,000 turned into several hundred. The 200 priests expected instead became 80. But still they came on Tuesday morning, the priests laying their hands on the new priest’s forehead as he knelt before them.

Security personnel remained tense, in part because Thannamunai is wedged between Muslim neighborhoods and authorities believe militants remain at large. The alleged mastermind of the Easter bombings also preached a violent interpretation of the Quran nearby, promising heaven to those who killed nonbelievers. Islamic State leader Abu Bakr al-Baghdadi, who hasn’t been seen in nearly five years, appeared in a video on Monday and praised the Sri Lankan attackers, who earlier pledged their loyalty to him. AP

ADRID—European countries urged restraint in Venezuela on Tuesday and called for new elections as a way to settle the political crisis in the South American country, but there wasn’t a unified voice immediately on whether to support or condemn the opposition’s move to oust President Nicolás Maduro.

In a statement released late in the day, the European Union said it rejected any form of violence and would continue to push for “free and fair elections.”

The president of the bloc’s Parliament, Antonio Tajani, came out as the strongest European voice in support of the opposition. In a tweet in Spanish, Tajani called the events “a historic moment for the return to democracy and freedom in Venezuela,” and described the release of activist Leopoldo López from house arrest as “great news.”

“Let’s go Venezuela free!” wrote Tajani, a prominent conservative leader.

All but four EU members endorsed the initial, Europe-wide call in February to back opposition leader Juan Guaidó when he appointed himself interim president.

The four who did not join the other EU members were Italy, Greece, Cyprus and Slovakia.

Italy has declared itself to be neutral on Venezuela, reflecting divisions within the coalition government in Rome between the right-wing League, which favors Guaidó, and the 5-Star Movement, which has warned against recognizing him.

The left-wing Greek government also has rejected pressure to endorse Guaidó and has not voiced support for Maduro as it has in the past, saying instead that elections are the only way out of the crisis.

A similar approach has been followed by Cyprus and Slovakia.

Slovakia does not recognize Guaidó as an interim president, Foreign Ministry Spokesman Boris Gandel said. But he added that no Slovak representative attended Maduro’s inauguration, and that showed that the country does not recognize the results of last year’s presidential election.

Spain, which has been credited for setting the EU’s line on Venezuela, has walked a fine line until now. Although the Spanish centerleft government was the first among European peers to back Guaidó and recognize one of his aides as the “special envoy of the interim president” in Madrid, it fell short of using the term “ambassador.”

That allowed Spain to maintain diplomatic ties with Maduro’s administration, keeping the official Venezuelan Embassy in Madrid open.

Spanish Foreign Minister Josep Borrell has warned against taking the US government line of “all options on the table” to seek a “change

of regime” in Venezuela, rather than facilitating free and fair elections.

A government spokeswoman said Spain “rejects a military coup,” while it backs Guaidó’s “legitimacy to lead democratic transition” in Venezuela.

“Guaidó represents the alternative,” said the spokeswoman, Isabel Celaá, urging restraint from all sides to avoid bloodshed.

The Venezuelan crisis resonates strongly in Spain, where the issue divides parties across the political spectrum.

Thousands of Venezuelans have migrated to Spain in recent years or are seeking asylum in the country, including prominent members of the opposition and former officials who worked closely with late Venezuelan President Hugo Chávez. More than 177,000 Spaniards live in Venezuela.

Spain has promoted the role of the EU-led International Contact Group, which seeks elections and a safe channel for humanitarian aid into Venezuela. The ICG has been criticized by the Venezuelan opposition, which says the group helps Maduro hold onto power.

US officials, including Vice President Mike Pence, Secretary of State Mike Pompeo and national security adviser John Bolton, were quick to issue statements of support for the opposition. Pence tweeted: “We are with you! America will stand with you until freedom & democracy are restored.”

The Trump administration has led calls for countries to recognize Guaidó as Venezuela’s legitimate leader and has won the support of 54 countries. But the effort to recruit more has largely stalled as Maduro clings to power.

In Moscow, Russian President Vladimir Putin discussed the crisis in Venezuela with his top security body. Russia is a key ally of Maduro and one of his government’s main suppliers of weapons.

Russian news agencies quoted Kremlin Spokesman Dmitry Peskov as saying that Putin raised the topic during his scheduled meeting with his Security Council.

Peskov said the meeting “paid significant attention to the news reports about a coup attempt in that country,” but he did not elaborate.

The Russian Foreign Ministry called on “the radical opposition” in Venezuela to stand down and “refrain from violence.”

“It is important to avoid unrest and bloodshed,” the ministry said in a statement, adding that Venezuela’s problems “should be resolved through a responsible process of negotiation without preconditions.”

It also urged the opposition to avoid “destructive interference from abroad.”

The UN said Secretary-General Antonio Guterres urged all sides in Venezuela to exercise “maximum restraint,” avoid any violence and take immediate steps to restore calm. AP

Oil gives up gains as increase in US supplies counter Venezuelan turmoil

O

IL erased gains after a surprise jump in US crude inventories allayed some concerns that rising violence in Venezuela is threatening supplies.

Crude futures dipped to a loss late on Tuesday after the American Petroleum Institute was said to report a 6.81-million-barrel increase in stockpiles last week, well above estimates in a Bloomberg survey.

Prices had advanced earlier in the day after Venezuelan opposition forces clashed with police in the streets of Caracas, escalating tensions in the home of the world’s biggest crude reserves.

If the stockpile increase is confirmed by government data on Wednesday, “that’s certainly going to be a negative for the market,” said Andrew Lebow, senior partner at New York consultant Commodity Research Group. “Expectations are nowhere near that type of build.”

Global benchmark Brent crude rose 1.1 percent on Tuesday after Saudi Energy Minister Khalid Al-Falih said Opec and its partners remain focused on reducing oil inventories.

That could leave global supplies thin as the US chokes off Iranian exports and unrest flares elsewhere.

Oil reached a six-month high last week after the Trump administration announced the end of waivers that shielded some buyers of Iranian crude from American sanctions.

While the Saudis pledged to fill any gaps, the kingdom also remains committed to a pact with Russia and other producers to keep a lid on output.

West Texas Intermediate crude for June delivery slipped 4 cents to $63.46 a barrel at 4:59 p.m. on the New York Mercantile Exchange, after ending the official trading session up 0.7 percent. US refiners are more reliant on Venezuelan supplies than competitors in other parts of the world, which means civil unrest and political chaos in the nation have an outsize impact on North American prices.

Brent for June settlement, which expires on Tuesday, gained 76 cents to $72.80 on the London-based ICE Futures Europe exchange. The more active July contract added 52 cents to $72.06. Opec will try to reduce commercial inventories and focus on “global oil output, trying to correct it via our Opec+ agreement,” AlFalih told Russian news agency RIA in Riyadh. Most ministers involved in the current cuts agreement favor an extension, perhaps through the end of the year, he said.

The Saudis face a tricky task to balance the market and help revive their economy while fielding US President Donald Trump’s public jibes to accelerate output and help lower gasoline prices.The developments in Venezuela triggered a spate of buying early on Tuesday, but that could reverse just as quickly if the opposition’s chances look shaky, said Michael Hiley, head of OTC energy trading at LPS Futures in New York. In the longer term, the ouster of current President Nicolas Maduro could lower prices if it means an end to US sanctions, he said. Bloomberg News

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Thursday, May 2, 2019

A9

New Emperor Naruhito vows to pursue peace

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OKYO—Emperor Naruhito inherited the sacred sword and jewel on Wednesday that signaled his succession as the 126th member of his family to rule Japan, pledging in his first public address to follow his father’s example by devoting himself to peace and sharing the people’s joys and sorrows.

Naruhito, the first Japanese emperor to have studied abroad and the first born after Japan’s defeat in World War II, formally succeeded to the Chrysanthemum Throne at midnight after his father Akihito abdicated on Tuesday. It was the first abdication in more than two centuries.

“When I think about the important responsibility I have assumed, I am filled with a sense of solemnity,” Naruhito said in his address.

While noting his father’s devotion to praying for peace, Naruhito said he’ll “reflect deeply” on the path trodden by Akihito and past emperors. He promised to abide by the constitution that stripped emperors of political power, and to fulfill his responsibility as a national symbol while “always turning my thoughts to

the people and standing with them.”

“I sincerely pray for the happiness of the people and the further development of the nation, as well as the peace of the world,” he said.

Naruhito is considered a new breed of royal, his outlook forged by the tradition-defying choices of his parents. Akihito devoted his threedecade career to making amends for a war fought in his father’s name while bringing the aloof monarchy closer to the people. Naruhito’s mother, Empress Emeritus Michiko, was born a commoner and was Catholic educated. Together, they reached out to the people, especially those who faced disability, discrimination and natural disasters.

Naruhito was presented with the sacred sword and jewel, each in a box

JAPAN’S new Emperor Naruhito, accompanied by new Empress Masako, makes his first address during a ritual after succeeding his father Akihito at Imperial Palace in Tokyo on Wednesday, May 1, 2019. JAPAN POOL VIA AP

and wrapped in cloth, at a morning ceremony that marked his first official duty as emperor.

His wife and daughter, Empress Masako and 17-year-old Princess Aiko, were barred from the ceremony, which only adult male royals—his brother, now Crown Prince Fumihito, and his uncle Prince Hitachi— were allowed to witness. Their guests included a female Cabinet minister, however, as the Imperial House Law has no provision on the gender of commoners in attendance.

The banning of female royals at the ceremony underscored the uncertain future of a paternalistic imperial family that faces declining numbers and fewer male heirs.

Nevertheless, Japan was in a festive mood as it celebrated an imperial succession prompted by retirement rather than death. Many people stood outside the palace on Tuesday to reminisce about Akihito’s era; others joined midnight events when the transition occurred, and more came to celebrate the beginning of

Naruhito’s reign.

Dozens of couples lined up at local government offices to submit marriage documents to mark the first day of Naruhito’s era, known as Reiwa, or “beautiful harmony.”

At Tokyo’s Chiyoda district office, Natsumi Nishimura, a 27-year-old saleswoman who was at the office to register her marriage with Keigo Mori, a 32-year-old government worker, said they decided to tie the knot at the start of a new era to mark their new life together.

“Opportunities like this don’t come by often so we thought it would be a day we won’t forget,” Nishimura said. From a car window on his way to and from the palace, Naruhito smiled and waved at the people cheering on the sidewalk. He and his family will still live at the crown prince’s Togu Palace until they switch places with his parents.

He is the nation’s 126th emperor, according to a palace count that historians say likely included mythical figures until around the fifth century.

The emperor under Japan’s Constitution is a symbol without political power. Wartime militarist governments worshipped the emperor as a living god until Naruhito’s grandfather renounced that status after Japan’s 1945 war defeat.

Naruhito has promised to emulate his father in seeking peace and staying close to the people. Palace

watchers say he might focus on global issues, including disaster prevention, water conservation and climate change, which could appeal to younger Japanese.

In an annual news conference marking his February 23 birthday, Naruhito said he was open to taking up a new role that “suits the times.”

But he said his father’s work will be his guidepost.

He also faces uncertainties in the imperial household. Only his younger brother, Prince Akishino, 53, and Akishino’s 12-year-old son, Prince Hisahito, can currently succeed him. The Imperial House Law confines the succession to male heirs, leaving Naruhito’s daughter, Aiko, now 17, out of the running.

Naruhito’s wife Masako is a Harvard-educated former diplomat who may prove an adept partner in his overseas travels and activities. But much will depend on her health, since she has been recovering from what the palace describes as stress-induced depression for about 15 years.

Naruhito is the first monarch raised by his own parents, as Akihito and Michiko, who was born a commoner, chose to take care of their children instead of leaving them in the hands of palace staff. They also supported his choice to attend Oxford University, where he researched the history of the Thames River transportation systems. AP

FED SEEN AS SURE TO LEAVE RATES ALONE DESPITE TRUMP PRESSURE

W THE US Food and Drug Administration has given the green light to put the IQOS device on store shelves in the US. BLOOMBERG NEWS

Philip Morris ‘heat not burn’ device is cleared for US sales

P

HILIP Morris International Inc.’s tobacco-heating device has been approved for sale in the US as American health officials grapple with how to help current smokers quit while keeping teens and nonsmokers from starting a tobacco habit.

The US Food and Drug Administration (FDA) gave the green light to put the device called IQOS on store shelves, it said on Tuesday. The agency hasn’t yet ruled whether the product, already sold in dozens of countries, can be advertised as less risky than traditional cigarettes— but it did weigh in on how it stacks up health wise.

“The agency determined that authorizing these products for the US market is appropriate for the protection of the public health because, among several key considerations, the products produce fewer or lower levels of some toxins than combustible cigarettes,” the FDA said in a release.

The marketing clearance is a boon to both Philip Morris and sister company Altria Group Inc., which will market and sell the device in the US. The companies began codeveloping the device before Philip Morris’s 2008 spinoff from Altria. They are vying to convert users of their own cigarettes, and those of competitors, as the FDA examines lowering nicotine levels in cigarettes to make them less addictive.

“In just two years, 7.3 million people around the world have abandoned cigarettes and switched completely to IQOS. Today’s decision by FDA makes this opportunity available to American adult smokers,” Philip Morris Chief Executive Officer Andre

Calantzopoulos said in a statement.

Still, it wasn’t a total win for the tobacco companies. The FDA approved the device but said it was akin to a cigarette, meaning advertisements will be restricted. A postmarket process to monitor youth use will keep an eye on how people use the products, the FDA said.

“We’ll be keeping a close watch on the marketplace,” it said, including making sure “that the company complies with the agency’s marketing restrictions to prevent youth access and exposure.”

Shares of Philip Morris climbed as much as 3.1 percent on Tuesday in New York. Altria rose as much as 2.8 percent.

IQOS approval for the US had once been mission-critical for Altria, which has been looking for ways to diversify as Americans move away from traditional cigarettes. It’s still important, but maybe less so after Altria took steps last year to hedge against Big Tobacco’s troubles—taking stakes in popular vaping startup Juul Labs Inc. and Canadian pot company Cronos Group Inc. Altria said it would initially introduce IQOS in Atlanta, with a number of retail locations. That rollout will help it “learn as much as possible, as quickly as possible, and intends to make the most of the company’s firstmover advantage in heated tobacco,” said Altria CEO Howard Willard.

Meanwhile, Philip Morris Fortune Tobacco Co. Inc., the local affiliate of PMI in the Philippines, said while this certainly is good news, the company said it will continue to evaluate market and regulatory conditions for the introduction of IQOS in the Philippines. Bloomberg News

ASHINGTON—The Federal Reserve is all but sure to keep interest rates on hold Wednesday—and for the foreseeable future—even as President Donald J. Trump keeps up his attacks on the Fed for not cutting rates.

The Fed will likely reiterate a message that has reassured consumers and investors since the start of the year: No rate hikes are likely anytime soon. The Fed’s low-rate policy is keeping borrowing costs down, helping boost stock prices and supporting an economy that’s growing steadily.

And with inflation remaining tame, the Fed is seen as able to stay on the sidelines at least through this year.

Yet, Trump insists the economy can do better, and to that end he is demanding what almost no mainstream economist would favor: Cutting rates further.

On Tuesday, Trump tweeted that the US economy has “the potential to go up like a rocket” if the Fed would only slash rates and resume the emergency bond buying programs it unveiled after the Great Recession to ease long-term loan rates to stimulate spending and growth.

“Yes, we are doing very well at 3.2 percent GDP [growth in the first quarter], but with our wonderfully low inflation, we could be setting

major records,” Trump tweeted on the first day of the Fed’s two-day policy meeting.

The central bank will disclose its policy decisions in a statement and in a news conference by Chairman Jerome Powell. Economists overwhelmingly expect no major change in its rate policy. The Fed raised rates four times last year but has indicated that it foresees no hikes at all this year.

“The Fed is in a sweet spot right now, with moderate growth and low inflation,” said Brian Bethune, an economics professor at Tufts University in Boston. “If growth were any stronger or inflation higher, the Fed would have no choice but to raise interest rates.

The brighter outlook marks a sharp rebound from the final months of 2018, when fears about a possible global recession and of further Fed rate increases had darkened the economic picture. Stock prices tumbled in the final quarter of the year, especially after the Fed in December not only raised rates for the fourth time in 2018 but signaled that it was likely to keep tightening credit this year.

Yet, beginning in January, the Fed engineered an abrupt reversal, suggesting that it was finished raising rates for now and might even act this year to support rather than re-

strain the economy. In characterizing its stance, the Fed’s new watchword became “patient.” And investors have responded by delivering a major stock market rally.

The market gains have also been fed by improved growth prospects in China and some other major economies and by the view that a trade war between the world’s two biggest economies, the United States and China, is moving closer to a resolution.

On Friday, the government reported that the US economy grew at a surprisingly strong 3.2 percent annual rate in the January-March quarter. It was the best performance for a first quarter in four years, and it far surpassed initial forecasts that annual growth could be as weak as 1 percent at the start of the year.

If economic prospects were to brighten further, could Fed officials rethink their plans to suspend further rate hikes and perhaps resume tightening credit?

Possibly. But investors don’t seem to think so. According to data tracked by the CME Group, investors foresee zero probability that the Fed will raise rates anytime this year. And in fact, their bets indicate a roughly 66 percent likelihood that the Fed will cut rates before year’s end.

One factor in that dovish view

is that the economy might not be quite as robust as the latest economic figures suggest. The first quarter’s healthy 3.2-percent annual growth rate was pumped up by some temporary factors—from a surge in restocking of companies’ inventories to a narrowing of the US trade deficit—that are expected to reverse themselves. If so, this would diminish the pace of growth and likely hold down inflation.

Indeed, for all of 2019, growth is expected to total around 2.2 percent down from last year’s 2.7 percent gain, as the effects of the 2017 tax cuts and billions of dollars in increased government spending fade.

At the same time, the Fed is still struggling to achieve one of its mandates: To produce inflation of roughly 2 percent. On Monday, the government reported that the Fed’s preferred inflation gauge rose just 1.5 percent in March from 12 months earlier. Many analysts say they think the Fed won’t resume raising rates until inflation hits or exceeds its 2 percent target.

Too-low inflation is seen as an obstacle because it tends to depress consumer spending, the economy’s main fuel, as people delay purchases in anticipation of flat or even lower prices. AP

Thousands march on May Day, demand better working conditions

S

EOUL, South Korea—Thousands of trade union members and activists were marking May Day on Wednesday by marching through Asia’s capitals and demanding better working conditions and expanding labor rights.

A major South Korean umbrella trade union also issued a joint statement with a North Korean workers’ organization calling for the Koreas to push ahead with engagement commitments made during a series of inter-Korean summits last year. Many of the plans agreed between the Koreas, including joint economic projects, have been held back by a lack of progress in nuclear negotiations between Washington and Pyongyang.

May Day rallies were also being held in other parts of Asia, including the Philippines, Malaysia, Indonesia, Taiwan, Cambodia and Myanmar. Other parts of the world were set to have rallies, as well.

In Sri Lanka, major political parties called off traditional May Day rallies due to security concerns following the Easter bombings that killed 253 people and were claimed by militants linked to the Islamic State group.

French authorities announced tight security measures for May Day demonstrations, with the

interior minister saying there was a risk that “radical activists” could join anti-government yellow vest protesters and union workers in the streets of Paris and across the country. More than 7,400 police will be deployed, aided by drones to give them an overview of the protests and a quicker way to head off potential violence.

Wearing headbands and swinging their fists, the protesters in Seoul rallied in streets near City Hall, marching under banners denouncing deteriorating working conditions and calling for equal treatment and pay for nonregular workers.

The protesters also called for the government to ratify key International Labor Organization conventions that would strengthen South Korean workers’ rights for organization and collective bargaining, and take firmer steps toward reforming “chaebol,” or huge family-owned conglomerates that dominate South Korea’s economy and are often accused of corruption and monopolistic behaviors. South Korean laws ban government employees and laid-off workers from forming or joining labor unions.

The Korean Confederation of Trade Unions, which organized the protests and issued the joint statement with the North Korean organization, said more than 27,000 demonstrators

turned out for Wednesday’s marches in Seoul, which proceeded peacefully with no immediate reports of injuries or major clashes. Police didn’t immediately provide a crowd estimate. May Day rallies were also held in other major South Korean cities, including Busan, Gwangju and Daejeon.

Liberal President Moon Jae-in, who won office in May 2017 following the ouster of his conservative predecessor over a corruption scandal, had pushed a labor-friendly agenda that promised to expand workers’ rights, reduce the country’s notoriously long working hours and address the problems of inequality by elevating minimum wages and reining in the excesses of chaebol.

However, critics say a decaying job market and bad economy, which unexpectedly shrank 0.3 percent during the last quarter due to sluggish investment, has softened the government’s approach on labor rights and corporate reform.

Thousands of low-paid workers took to the streets in Indonesia to demand higher wages, better benefits and improved working conditions in Southeast Asia’s largest economy.

Laborers in Jakarta, the capital, gathered at national monuments and other places, shouting their demands. “We demand the rights of

workers and their families,” said Joko Harianto, head of the national trade union. “People think things are good, but actually these rights are very difficult to obtain.”

In Taiwan, several thousand workers were marching through the streets of Taipei, the capital, to demand better working conditions. They carried banners and flags and chanted for more days off and higher overtime pay.

Many wore baseball caps and colorful clear plastic ponchos over their clothes, though a light rain ended as the march got under way. Taiwan’s official Central News Agency said 6,000 people joined the march.

In the Philippines, thousands of workers and labor activists marched near the Malacanang presidential palace in Manila. They demanded that the government of President Duterte address labor issues including a minimum wage increase and the end of contractualization for many workers.

Police said about 5,000 people joined the march, which comes just over a week before senatorial elections are held in the country. One labor group said its members would not vote for any candidate endorsed by Duterte and burned an effigy of Duterte. AP

A10 Thursday, May 2, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

The country’s badge of creditworthiness

T

HE Philippines on Tuesday got its badge of creditworthiness after S&P Global Ratings announced that it is assigning a “BBB+” on the Philippines’s long-term sovereign credit rating. This is the highest credit rating we got from a major credit watcher since 2013, when Fitch gave the country its first investment grade rating of BBB-. The new rating is given a “stable” outlook by the ratings agency, which means that no material change is expected of the rating in the next 12 to 18 months.

S&P said the rating upgrade reflects the country’s strong economic growth trajectory, which it expects to continue “to drive constructive development outcomes and underpin broader credit metrics over the medium term.” S&P added: “The rating is also supported by solid government fiscal accounts, low public indebtedness and the economy’s sound external settings.”

Finance Secretary Carlos Dominguez III attributed the ratings upgrade to President Duterte’s leadership. “Credit belongs to PRRD’s strong leadership and his 10-Point Economic Program,” he said. The 10-point agenda bids for the continued implementation of macroeconomic policies, institution of progressive tax-reform program and more effective tax collection, improvement in the country’s competitiveness and ease of doing business, increase in public spending on infrastructure, and promotion of rural and value chain development. It also ensures security of land tenure to entice more investments; invest in human capital development; promote science, technology and creative arts to spur innovation; and improve social protection programs.

The credit watcher said the Philippine economy is growing “consistently faster than that of its peers and that its strong economic growth should continue as long as investment is maintained.” S&P added that the Philippine economy is among the fastest-growing economies in the world on a 10-year weighted average, per-capita basis, which is a reflection of the country’s improving investment climate.

The continued expansion of the Philippine economy since 2013 has prompted S&P, along with Fitch Ratings and Moody’s Investors Services, to elevate the country’s credit ratings to investment grade. An investment grade is a seal of good housekeeping that tells investors it is safe to do business in the Philippines. It encourages big investors to put huge capital in the Philippines because, as a borrowing country, it has a strong ability to pay its debt.

For ordinary Filipinos, the S&P ratings upgrade will mean lower interest on government debt, which translates to bigger budgets for infrastructure projects and better social services like education and health. It can also mean possible fewer taxes. For companies, it means cheaper funds to expand operations, which will generate more jobs.

Last year, the Philippine economy grew at 6.2 percent on account of sustained domestic spending and investment despite rising inflationary pressures and widening trade gap. For 2019, S&P forecasts Philippine growth to hit 6.3 percent before it gradually rises to 6.7 percent by 2022. The optimism in the country’s economic dynamics is being attributed to the government’s efficiency to put in place economic policies in recent years.

S&P said the Duterte administration has been enacting “increasingly effective fiscal policies, marked by improvements to the quality of expenditures, manageable fiscal deficits and low levels of general government indebtedness.”

In other words, the Duterte administration has been effectively doing its job in managing the country’s economy despite global headwinds. To quote the finance chief, “this is due to President Duterte’s strong leadership.”

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua

My stock market mentor John Mangun

OUTSIDE THE BOX

I

F you ask people if they use “creative thinking” in decision-making, you will get one of two answers. A small group will say that of course they do and give you numerous examples of “creativity.”

The larger group will say that they want to be more creative.

Consider that stock-market analysis and investing are both an art and a science. Yet nearly all investors, analysts, experts and “gurus” use more creative thinking making a bowl of instant noodles than they do for the stock market.

Joseph Ensign Granville was a financial writer (The Granville Market Letter) and stock-market seminar speaker who died in 2013 at the ripe age of 90. He started in 1963 and became popular in the 1970s when I became a professional Wall Street stockbroker.

Joe became famous for developing the technical indicator “OnBalance Volume,” which all Tech Analysts are familiar. OBV was a big

breakthrough because until Granville, no one cared anything about volume as a potential predictor of future price movement. Many investors still ignore volume.

Joe was my mentor and I learned about tech analysis from him. He also helped shape me to become what I am today, even as an old man.

He taught me discipline in the stock market by giving example after example of when his lack of discipline—and ignoring his own “rules”—cost him money. He took his business very seriously and was completely “unserious” about himself. He always had fun trading the market, win or lose. He was humble with the attitude that Socrates

One wrong policy after another in the multibillion-peso energy industry

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described: “The wise man is he who knows he knows nothing.”

He enjoyed being called out for a wrong market forecast by saying, “Well, you always said I didn’t know what I was doing and I’m sure you made a fortune betting against me.”

The greatest gift Joe gave me was challenging me to challenge everything he taught me.

Joe said that OBV was valuable because when volume went up sharply without a significant change in a stock’s price, the price will eventually increase rapidly or drop dramatically. He was partially wrong. OBV needed a better predictive interpretation to back up the “numbers” and I told him so.

After a price run-up, high volume without price movement is almost always “distribution” before a fall.

After a declining price trend, high volume without price movement is almost always “accumulation” before a significant upside trend change.

Joe saw OBV as a “momentum” indicator—low momentum preceding a strong price movement—and not as a good predictor of future price movement, which it is.

With a 100 plus year history of “modern stock analysis,” the analysis is treated as if it came from a heavenly

DATABASE

W

HAT came about after the abolition of the Marcoscreated Ministry of Energy was another presidential boo-boo: the abandonment of the Bataan Nuclear Power Plant Project. This nuclear plant was designed to provide cheap electricity for the country.

Evidently, President Corazon Cojuangco Aquino’s decision to scrap the nuclear plant was more emotional rather than rational. Her decision totally ignored important details and that she was influenced by her suspicion that the nuclear plant was grossly overpriced and unsafe.

Some also believed that she was affected by her well-known aversion to anything “Marcosian.” Of course, everybody knew that the nuclear plant was a pet project of the Marcos regime. Others pointed to the pressure from powerful players in the nuclear plant on their electric power businesses.

Another reason offered to explain her action was the danger of radiation leak should a strong earthquake

hit the vicinity of the plant. As things turned out, the fear was unjustified.

The Bataan nuclear plant was patterned after the Krisko nuclear power plant in Yugoslavia. The same design was also followed in the Korei nuclear power plants 1 and 2 of South Korea. The Yugoslavian and the South Korean plants have had no operational problems ever.

The Bataan nuclear plant was scheduled to go into commercial operation in November 1983. This was deferred to 1986 so that additional work could be done to ensure the maximum safety of the plant. This deferment was an offshoot of the accidents in the Three Mile Island nuclear power plant in the United States and in the Chernobyl nuclear

power plant in Russia. In the end, the commercial operation of the Bataan nuclear plant never materialized.

As if by design, nature itself disproved the possibility of radiation leak. A very strong earthquake occurred in central and northern Luzon in 1990. Mountain slopes crumbled; buildings, roads and bridges collapsed; and parts of the coastal cities of Dagupan in Pangasinan and San Fernando in La Union sunk. Even Mount Pinatubo, standing a few miles from the nuclear plant, violently erupted. And yet the nuclear plant stood with no damage.

Obviously, President Aquino was hopelessly misled. She decided a major and highly technical policy issue on the advice of persons with cursory knowledge of the facts.

Clearly, she was unaware that the nuclear reactor of the Bataan Nuclear plant was so designed and constructed to withstand the crashing impact of a 747 jumbo jet at full speed.

Surely the decision to abandon the nuclear plant has contributed greatly to the present high cost of electricity in the country. Instead of producing cheap electricity for the people, the nuclear plant has become “the most expensive white elephant project in Philippine history.” It has cost our electric consumers over $2 billion, and the people are still paying mil-

roundtable and cast in stone. Tech analysts use the same parameters for their indicators as the “stones” were used when Moses came down the mountain.

Fundamental analysts use the same valuation formulas as when accountants did the numbers using a quill pen and ink made from burned animal bones.

For example, corporate revenues and corporate profits tell two different important stories. Simply, revenues reflect the “health” of the business itself, while profits reflect management performance. Therefore, a company with flat revenues and low profits can become a great turnaround situation if a couple of key executives are fired. But knowing that takes creative thinking.

You will never see Joe Granville quoted by any of the social-media stock-market gurus or experts. But he did start some of his seminars by rising out of a coffin. Does that count for creative thinking? I may have to try that sometime.

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

lions of dollars to service the foreign debt incurred to build the Bataan nuclear plant, which now sits idle not far from another multibillionpeso white elephant: the Centennial complex built on the order of President Fidel V. Ramos.

Midway in her administration, the country’s power supply deteriorated progressively until it worsened.

Everybody suffered and complained because of long power brownouts.

The public was angry. Business was badly hurt. Those who could afford had to incur additional cost to buy their own generators.

She panicked. And to her great embarrassment, she was compelled to resurrect the Ministry of Energy.

She had to because the people were angry and restive. But it was too late.

The damage was done.

In her desire to control the fullblown energy crisis and to placate the people, she thoughtlessly issued Executive Order 215. This executive order authorized private parties to own power-generating plants and to sell electricity to distribution utility companies in direct competition with the NPC. By the stroke of her pen, she wittingly or unwittingly removed the control of the NPC over the generation and supply of electric power, See “Arillo,” A11

Opinion BusinessMirror

www.businessmirror.com.ph

Thursday, May 2, 2019 A11

Belarus has chance to hit The community’s life in the risen Lord Russia where it hurts

can haul ashore the multitude of believers and accommodate all plurality and diversity.

Msgr. Sabino A. Vengco Jr.

ALÁLAONG BAGÁ

Leonid Bershidsky

BLOOMBERG

T

HE Russian energy ministry says clean oil is flowing in the Druzhba pipeline, which was shut down last week because it was conveying contaminated crude to European clients. But neighboring Belarus insists it will take “months of hard work” to restore the flow. That reveals a political aspect to the contamination, which last week helped drive Brent crude prices above $75 a barrel.

Belarus made public the problem with Russian oil in the Druzhba (“Friendship” in Russian) on April 19, saying there was an abnormally high concentration of organic chlorides in the crude. The chemicals are used to increase the yield of old, nearly exhausted oil wells; Russia lifted a ban on their use in 2012. During refining, the chemicals tend to convert into hydrogen chloride and then, on contact with water, into a hydrochloric acid solution, which corrodes the refining equipment. Contamination happens sporadically, and it’s possible that the Russian oil flowing through the Druzhba—a pipeline built in Soviet times to supply the Communist empire’s European satellites—has contained more organic chlorides than normal for quite some time. Russian oil producers or the pipeline monopoly, Transneft, haven’t been testing for them systematically enough.

So why did Belarus sound the alarm? Reasons likely go beyond the contamination itself.

On April 10, Russia’s sanitary authority banned the import of apples and pears from Belarus. It suspected that the fruit was really coming from the European Union and that Belarus was helping Europeans beat the Russian food embargo, introduced in 2014 in response to the EU’s Ukraine-related sanctions. This was clearly part of a Russian pressure campaign for a closer union between the two dictatorships, which could provide an option for Russian President Vladimir Putin retain power in 2024 by heading up a hypothetical union state. The campaign is multipronged. Apart from increasingly frequent trade restrictions, it includes loan delays and squeezing Belarus by cutting off its ability to sell the Russian oil it buys at reduced prices.

A merger with Russia is unpopular in Belarus, and President Alexander Lukashenko, who has been running the country since 1994, has his own reasons to resist it. So he’s not above playing some hardball in response.

On April 11, the day after the

Arillo . . .

continued from A10

which was so essential and effective in maintaining a calibrated balance between the demand for and supply of electricity in the country.

“President Aquino, it would seem,” said Juan Ponce Enrile, now running for the Senate under the Pwersa ng Masa, “was never really familiar with the power industry, let alone with the policies involved.

apple ban, Lukashenko said the Belarussian part of the Druzhba pipeline should long have been closed for repairs. “We didn’t do it because we understood that it would hurt the Russian Federation,” Lukashenko told a meeting of top officials. But now, he continued, “all the good we do the Russian Federation is paid back with evil.”

A week later, the tainted oil was found, the Polish and Ukrainian pipeline systems stopped accepting the Russian crude, and the Druzhba was shut down. This was the best possible way for Belarus to launch its counteroffensive. The chlorides were actually there, and if Russia had insisted the oil was fine, it would have destroyed trust with European customers — something it avoids at all costs. So Russia went into all kinds of contortions to prove that the contamination was a one-off.

Transneft has announced that it found the source of the contaminants—a specific part of the pipeline. Putin has called for an investigation, and Russian prosecutors are looking into the possibility of deliberate sabotage. The Russian energy ministry, meanwhile, has assured customers that the supply of normalquality crude would resume as soon as possible, and indeed, the Belarussian arm of Transneft plans to start pumping it to Europe by Thursday.

It has warned, however, that by May 10, the pipeline would carry less than two-thirds of its average crude volume and that getting back to full capacity would take months.

According to the company, some 36 million barrels of tainted crude are still locked in Belarussian, Ukrainian and Polish pipelines. It’s unlikely that the short-lived price increase went far enough to compensate Russian oil companies, especially Transneft, for the potential losses.

Lukashenko is not about to throw away his trump card: He can use Druzhba repairs and shutdowns, as well as compensation demands, in negotiations with Russia for months.

Otherwise, she would not have recklessly issued Executive Order No. 215, which brought the injurious and much-hated Purchased Power Adjustment or PPA into the country.”

In spite of Executive Order No. 215 and the influx of independent power producers, long hours of power brownouts, lasting from 12 to 15 hours a day, went on.

To reach the writer, e-mail cecilio.arillo@ gmail.com.

T

HE appearances of the resurrected Jesus highlight certain fundamentals in the life of the Christian community in the context of His Easter triumph. For the Third Sunday of Easter, John (21:1-19) wanted to complement the gospel’s prologue with yet a third determining appearance of the glorious Christ.

Apostolic and catholic THIS resurrection appearance of Jesus underlines the catholicity of the apostolic mission illustrated by the story of the extraordinary catch of fish. This episode is included by other evangelists in the public ministry of Jesus (Luke 5:1-11; Matthew 14:2831), but the Johannine author typically wanted to associate this event, and the concomitant renewed call to Peter, with the post-resurrection development. Thus, mission and leadership service in the Church are to be seen as participation in and extension of the glory and the power of the risen Lord.

The fishermen-disciples seemed incapable of catching anything on their own, fishing all night and catching nothing. But with the dawn came Jesus, the light ending

the darkness, the daybreak introducing a new day and new hope.

Things changed dramatically when their fishing came under the direction of the risen Jesus, with His authorization and in His power. Their sudden and enormous catch of 153 large fish did not tear up their net, but neither could they pull it in. As to the symbolism of the number of fish caught, Saint Jerome’s interpretation seems close to the intent of the gospel writer that the number totaling all the known species of fish then indicates that the apostolic mission of the followers of the risen Christ is universal or catholic, all-inclusive and irrespective of race, culture and religion. There is a place for everyone in the saving net of the Church as the community of salvation, and without tearing apart, it

Bloomberg Opinion

J

PMORGAN Chase & Co. is the latest global bank to take a stand against Brunei Darussalam after the oil-rich sultanate introduced legislation that punishes gay sex with death by stoning. The idea that financial leaders will choose their business partners on the basis of ethical principles marks a notable shift. But praise for this push onto the moral high ground should be limited.

The financial crisis left lenders with tens of billions of dollars in fines for scandals ranging from rigging to misselling, and substantial reputational

damage. The industry’s long haul to recover its position has, for the past decade, put it squarely on the receiving end of new rules and regulations, including a fresh push to abide by environmental, societal and governance standards.

Concerns about the recent changes to Brunei’s penal code align with this — the laws have drawn condemnation from the United Nations, criticism from the United States and outrage from the entertainment world.

So it’s good to see that banks are doing their part by banning staff from staying at luxury hotels owned by Brunei’s sovereign wealth fund. JPMorgan has joined the boycott, the Financial Times reported this week. At least seven

AS catholic, the Christian community of faith reconciles, not excludes, sinners. Reconciliation is delicately signified by the meal Jesus prepared for His disciples, a meal of bread and fish, like when he fed the multitude on the edge of the sea of Tiberias (John 6:11).

Happy truly are those called to His table. The very invitation is a sign of reconciliation whatever the past might have been. The example of forgiveness and healing at the top is exemplified by Simon Peter himself. Three times he had denied knowing Jesus at all (John 18:17.25.27). The risen Lord now asked him three times, “Do you love me?” And three times Peter affirmed his love for Jesus. As the chosen servant-leader of the faithful, Peter himself healed and reconciled can now nourish and lead the community of reconciliation for the world.

Life with the risen Jesus means reconciliation and service, ministry amidst the imperative of constant healing. With his imperfections, Peter knew also how to weep for his sins.

And he was willing, humbled as he was, to do what was asked of him in the service of the Lord’s flock. The

Alálaong bagá, a disciple’s commitment and fidelity to Jesus can really be absolute and unstinting in the light and in the power of Easter.

Martyrdom is sweet for those who have identified themselves with the one who was crucified and rose again.

His victory is theirs. To follow Jesus as fishers of salvation and shepherds of peace and unity may most likely cost them martyrdom, but the palm of glory and eternity is assured them by the risen Lord.

Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

After 18 years, Epira failed to give PHL energy security Dr. Rene E. Ofreneo

LABOREM EXERCENS Continued from A1

I

RONICALLY, energy security is precisely one of the overarching goals of the “Electric Power Industry Reform Act”, or the Epira law. The Epira was passed in 2001, or 18 years ago. The list of objectives outlined in the Epira are truly ennobling: “a) To ensure and accelerate the total electrification of the country; “b) To ensure the quality, reliability, security and affordability of the supply of electric power; “c) To ensure transparent and reasonable prices of electricity in a regime of free and fair competition and full public accountability to achieve greater operational and economic efficiency and enhance the competitiveness of Philippine products in the global market; “d) To enhance the inflow of private capital and broaden the ownership base of the power generation, transmission and distribution sectors; “e) To ensure fair and nondiscriminatory treatment of publicand private-sector entities in the process of restructuring the electric power industry; “f) To protect the public interest as it is affected by the rates and services of electric utilities and other providers of electric power; “g) To assure socially and environmentally compatible energy sources and infrastructure; “h) To promote the utilization of

indigenous and new and renewable energy resources in power generation in order to reduce dependence on imported energy; “i) To provide for an orderly and transparent privatization of the assets and liabilities of the National Power Corp. [NPC]; “j) To establish a strong and purely independent regulatory body and system to ensure consumer protection and enhance the competitive operation of the electricity market; and “k) To encourage the efficient use of energy and other modalities of demand-side management.”

Consumer groups, CSOs and even some LGUs and small business groups have been raising and filing complaints on the failure of the Epira to deliver the above promises of the law. In particular, we have seen the continuing rise in electricity rates, especially those charged by Meralco.

Which is the reason why there is a proposed bill on “Murang Kuryente,” and there is a party-list group that has adopted the monicker Murang Kuryente.

The unchecked growth of electricity rates is very much related to the

Banks’ Brunei boycott deserves a small cheer

By Elisa Martinuzzi

Reconciling and serving

risen Jesus wanted Peter associated with Him in His role as shepherd (John 10:1-18). Notwithstanding the past, Jesus reissued Peter the call to follow Him. “Follow me!” What a healing, rehabilitating word for Peter to hear. But he should know now what that actually meant. To follow Jesus is to imitate someone who carried the cross to Calvary and offered Himself for the life of others. It means someday to stretch out your hands in compliance and to be led where you do not want to go. To follow Jesus is to live everyday literally in the shadow of the cross. But this was Jesus’ love and trust in him the second time around, and Peter would love too and measure up to Jesus more faithfully the second time around.

others, including Deutsche Bank AG, have similar restrictions in place, according to Financial News.

That so many firms are on board with the restrictions is unprecedented, and demonstrates a renewed appetite within the industry to assert itself as an agenda-setter instead of merely a rule-taker. And even if driven by the demands of customers and millennial employees, the desire to make a stand in such fashion is welcome.

Yet the practical impact of this policy will be limited. The move may strain the finances of the hotel properties, which include the Dorchester in London and the Beverly Hills Hotel in California. But with oil back on a tear, Brunei’s fiscal

position probably won’t change much.

Nor does it appear that firms are giving up a pipeline of lucrative business.

Brunei represents less than 0.03 percent of the global economy. It’s not exactly the IPO or bond issuance capital of the world. At the moment, it doesn’t appear that the big lenders have the appetite to repeat this approach elsewhere.

The Cato Institute’s Human Freedom Index shows a number of other, larger countries score little better than Brunei on repression, if not worse. However, financiers appear to be perfectly willing to do business in some of these locations.

One example is Saudi Arabia. Ranked 155 out of 162 for personal freedom,

failure of the implementors of the Epira to “broaden the ownership base of the power generation, transmission and distribution sectors.” What the implementors of Epira did was to transform public monopolies into private monopolies under a program of all-out privatization of the power generation, transmission and distribution sectors. In short, the whole system of power development and marketing is now built around the investment plans of the corporations engaged in the transmission, power generation, distribution and operation of the so-called Wholesale Electricity Spot Market (WESM).

Some distributor companies such as Meralco even source their power from generation companies controlled by the owners of Meralco. One study pointed out that the rates for more than 90 percent of distributed power is based on the nontransparent and hazy relationships between the generation companies and distribution utilities. Which raises questions as to what exactly is the purpose of WESM and how WESM prices are really determined. Paging the PCC of Arsy Balisacan!

Meantime, the leadership of the Department of Energy of the Philippines, treated as a critical and strategic agency in China, Japan and other countries, has been weakened by the all-out system of privatization. A check at the web site of DOE shows that its main function has been reduced to monitoring, nudging and even cajoling the big private-sector players. But its power to provide strategic leadership in power development, intervene in areas where the private corporate sector fails and discipline corporations which engage in predatory pricing practices or fail to coordinate with the government

on their planned/unplanned power maintenance programs and outages —all these are not spelled out in the DOE TOR. It is also obvious that much of the time of key officials of DOE is eaten up by looking for investors/contractors who can be engaged in different areas of the privatized power-development program such as the establishment of new powergeneration projects.

Meantime too, the Energy Regulatory Commission has been the object of so many complaints coming from the consumer associations, CSOs, trade unions and local business groups. The Mindanao Coalition of Power Consumers has reacted angrily to the failure of the ERC to review the various power-supply contracts, 27 in all, involving the generation companies and distribution utilities and purge these contracts with onerous provisions that the Coalition blames for the high prices of power that the people of Mindanao have to endure.

From the foregoing, it is abundantly clear that this is an opportune time for the government, especially the Senate and the House, to undertake a rigorous assessment of the Epira based on the failure of the Epira to deliver the promises outlined above. There is a need to restore the role of the State as the leader in the overall management of the power development.

There is also a need to truly put people at the center of power development. As a starter, why not put consumer/CSO representatives (nonvoting) in the boards of the big transmission, generation and distribution companies, and empower them to give public reports on the true state of power development in the country?

just last week the kingdom drew the world’s top bankers and investors to a financial summit in Riyadh. In attendance were some of the very executives who had pulled out of a conference there in the autumn after the murder of US-based journalist and Saudi critic Jamal Khashoggi. This year, conference participants expressed their excitement about the role they can play in an economy with a bright future, in the words of one finance chief.

One element of this is absolutely right: Saudi Arabia is enticing, financially. Amid a dearth of deals in Europe, Saudi Aramco’s $12-billion bond sale has been a bright spot in the capital markets this year and the kingdom’s

economic transformation promises plenty more.

The reality is that pulling out of Saudi Arabia would be very expensive for global banks that have decades of shared business dealings, and hundreds of employees on the ground. It may not be possible for them to easily adopt the playbook of hedge fund Pharo Management, which decided in December to return about $300 million that it was managing for the kingdom’s central bank.

Big finance’s hard line against repressive regimes will be tested for consistency. The progress banks have made deserve praise—but lenders should recognize that standing firm on principles might be a little harder next time.

2nd Front Page BusinessMirror

A12 Thursday, May 2, 2019

‘Strong govt spending offset effect of delayed budget OK’

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By Elijah Felice E. Rosales

@alyasjah

HE Philippine economy likely expanded 6 percent in the first quarter on strong government spending that made up for the delayed approval of the 2019 national budget, according to a think tank.

In its April edition of The Market Call report, the First Metro Investment Corp. and University of Asia and the Pacific Capital Markets Research estimated GDP growth in the first quarter to be 6 percent or higher. Further, it kept its fullyear projection of 6.5-percent to 7-percent GDP growth, as the second quarter signing of the 2019 national budget will provide the government the means to accelerate spending in the second half.

“Positive economic data releases in March outweighed negative ones

and so we retain our view that Philippine economy grew by 6 percent or higher in the first quarter despite the pending approval of the national government budget for 2019,” the report read.

President Duterte on April 15 approved the P3.757-trillion national budget for the year. However, he vetoed P95.3 billion of appropriations for not being part of the administration’s priorities.

“The surge in the national government spending in February offsets its slowdown in January,

6%

The likely expansion of the Philippine economy in the first quarter, according to the think tank First Metro Investment Corp. and UA&P Capital Markets Research and shows that despite the delay in budget approval, the pace of government spending can run on an elevated track, since the 2019 budget will likely be signed in April or May; thus, the impact of the delay in first-quarter GDP growth would be limited,” the report read.

National government spending in February jumped 20.9 percent to P278.5 billion, the report added, citing data from the Philippine Statistics Authority (PSA).

The double-digit rebound followed two straight months of declines, and resulted in a deficit of P76.4

billion for the month.

“We believe that national government spending will continue to increase in March as the administration remains focused on finishing key infrastructure projects, but the delay in budget approval constitutes a downside risk,” the report read.

It said big-ticket infrastructure and public-private partnership projects proceeded seamlessly in the first quarter, and should go on its full course in the second quarter.

On top of that, the report claimed election spending should spur consumer spending in the January-toMarch period.

The government is calendared to release the first-quarter GDP data on May 9.

The Philippine economy grew 6.2 percent last year, lower than the government’s revised target band of 6.5 percent to 6.9 percent, largely due to spikes in inflation rates, which peaked at 6.7 percent last September and October. GDP in the first quarter of last year expanded 6.6 percent.

‘Unresolved US-China row to dent PHL growth’

By Cai U. Ordinario

N

@caiordinario

ADI, Fiji—If the United States and China fail to resolve the trade tensions between them, the Philippine economy stands to lose 0.10 percentage points in real GDP growth this year and next year, according to the Asean+3 Macroeconomic Research Office (Amro).

In its Asean+3 Regional Economic Outlook (Areo) 2019 report, Amro said this failure in resolving the trade tensions will lead the US to impose a 25-percent tariff on all its imports from China and vice versa.

The US stands to lose 0.3 percentage points while China stands to lose as much as 0.6 percentage points from its real GDP growth.

Howe ver, cou nt r ies l i ke t he

EASTERLIES AFFECTING SOUTHERN LUZON, VISAYAS AND MINDANAO as of 4:00 pm - May 1, 2019

Philippines will not be spared from the adverse effects on their economy. “ R eg ion a l econom ies w it h greater GVC [global value chain] participation and linkages with China that are oriented toward final demand outside the region are more valuable to trade protectionism risks,” Amro Chief Economist Hoe Ee Khor said in a briefing at the sidelines of the

52nd Asian Development Bank A n nu a l G o v e r nor ’s Me e t i n g here.

Based on data from the Philippine Statistics Authority (PSA), the US and China are among the country’s top trade partners. In the January-to-February period, the US emerged as the country’s top export destination while China was the top import source.

Continued on A2

Sniff dogs fail airport dry run for meat in bags

www.businessmirror.com.ph

DFA RAISES LIBYA ALERT TO LEVEL 4, AS MORE OFWs GET TRAPPED IN CONFLICT

By Recto Mercene @rectomercene

& Samuel P. Medenilla

@sam_medenilla

T

HE Department of Foreign Affairs has ordered the mandatory evacuation of overseas Filipino workers (OFWs) based within 100 kilometers of the Libyan capital Tripoli by raising Alert Level 4, the highest and most urgent level of awareness issued in a conflict area.

Foreign Affairs Secretary Teodoro L. Locsin Jr., announced this on Twitter, saying he has informed President Duterte of his decision.

In Manila, Labor Secretary Silvestre H. Bello III said the Department of Labor and Employment is ready to do its part in the repatriation of more OFWs, who in the past weeks have been reluctant to leave their work places in the violencewracked North African country.

“Yesterday [I] informed [the] President that I raised the Alert Level [AL] to 4 in Tripoli + 100 kms around. More mortar fire, more Filipinos hurt,” Locsin said on Twitter.

“AL 4 is mandatory evacuation but we cannot compel—and rightly so. What is mandatory is that DFA stays in Tripoli until last OFW goes—& then it stays.”

The DFA elaborated on Locsin’s directive, saying Alert Level 3 was raised to AL 4 “due to increased threats to the safety and security of the more than 1,000 Filipinos who are still there.”

“Foreign Affairs Secretar y

Teodoro L. Locsin Jr. raised the alert level upon the recommendation of the Philippine Embassy in Tripoli which said the current situation on the ground could no longer guarantee the safety and security of Filipinos who chose to remain despite repeated appeals for them to go home.”

Chargé d’Affaires Elmer G. Cato said that with the declaration of Alert Level 4, the embassy will redouble its efforts in persuading Filipinos to go home.

The DFA said the AL 4“was raised after a number of Filipinos suddenly found themselves in the middle of fierce fighting on Monday. It also followed the shelling of several hospitals and residential areas that left at least two Filipinos wounded.”

Locsin appealed to Filipinos still in Tripoli to seriously consider repatriation before the situation escalates further. He also requested the help of families in the Philippines in persuading their loved ones in Tripoli to accept the repatriation offer before it’s too late.

Locsin and head of mission to Libya, Cato, had earlier announced that despite their plea for migrant Filipinos to leave the war zone, many have opted to stay where they work, or otherwise stay there to help Libyan friends endangered by the fighting.

Cato tweeted that the mission’s ability to respond to emergencies becomes limited as the fighting closes in on them in Tripoli.

“As the fighting gets closer to us, the See “DFA,” A2

PHL GOVT CITES JAPAN FOR TRANSPORTATION INFRASTRUCTURE HELP

T

HE deployment of sniff dogs in airports nationwide to help prevent the entry of swine flu-contaminated meat on passengers’ luggage was pushed back by two weeks as a recent dry run showed that canines hired by the Department of Agriculture (DA) failed to detect beef and processed pork products in luggages.

Agriculture Secretary Emmanuel F. Piñol said the Bureau of Animal Industry (BAI) conducted its first dry run for the meat-sniffing dogs on April 30 in Naia terminals.

However, Piñol added that BAI OIC-Director Ronnie Domingo informed him that the meat-sniffing dogs were able to detect frozen pork in a bag. Nonetheless, they failed to detect beef and processed pork in other luggages.

Furthermore, the dogs also failed to sniff meat products inside luggages and bags in the bag carousel.

The agriculture chief said the dog handlers informed them that the canines would be retrained again for two weeks to improve their sniffing capabilities. Another dry run in airports is expected to be conduced after two weeks.

Nonetheless, Piñol said the DABAI would have to deploy the meatsniffing dogs within the month to strengthen the government’s biosecurity measures against African swine fever (ASF).

See “Sniff dogs,” A2

AMBASSADOR Koji Haneda of Japan (right) receives the Embassy Award for Transportation Infrastructure Support from Transportation Undersecretary Ruben S. Reinoso Jr. at the recent awards night for Mission: PHL, the BusinessMirror Envoys&Expats Awards. ROY DOMINGO

T

HE Japanese government was recently cited for its significant support for transportation infrastructure in the Philippines at the culminating ceremony of Mission: PHL, the BusinessMirror Envoys&Expats Awards.

Ambassador Koji Haneda of Japan received the Embassy Award for Transportation Infrastructure Support from Transportation Undersecretary Ruben S. Reinoso Jr. “It is such an honor and I thank the Department of Transportation for this award. This is another accolade, validating that our collaboration with the Philippine government is headed in the right direction.

We take pride in our partnership with the Philippines to help build an efficient transportation system through railways and airports,” Haneda said in brief remarks on

receiving the recognition.

“We are thrilled to be a huge part of the Build, Build, Build program, knowing that these infrastructure projects will bring progress closer to the Filipino people. Trust that we will build our past achievements and help pave the way for sustainable development to flow in the regions,” added Haneda.

Mission: PHL is the first and only recognition awards for the Philippines’s best partners in development cooperation. It gives due recognition to the development efforts of countries as represented by their embassies, as well as bilateral and multilateral development aid partners.

Watch for the next round of Mission: PHL, the BusinessMirror Envoys&Expats Awards in 2021.

Read updates on Mission: PHL in BusinessMirror’s Envoys&Expats Section.

Editor: Efleda P. Campos

Companies BusinessMirror

Thursday, May 2, 2019

B1

DOF wants private sector to help build country’s ports

T

By Rea Cu

@ReaCuBM

HE Department of Finance (DOF) is urging the private sector to participate in more infrastructure projects aimed at improving the country’s ports and building more terminals around the country.

ity. This will enable the port facility to handle over 450,000 20-footer containers annually from its previous annual capacity of 300,000 20-footer-equivalent units.

Dominguez said a new passenger terminal within the BCT will also be completed by 2021.

BCT handles the growing trade volumes of the Calabarzon area, namely, Cavite, Laguna, Batangas, Rizal and Quezon.

He said modernizing the ports in the country will open alternative gateways to enable trade with other countries in the region, and ease Manila’s port congestion that has long been the woe of investors.

Dominguez added that among t he k e y go a l s o f P re s i d e nt Duterte’s “Build, Build, Build” infrastructure program is to create economic opportunities outside Metro Manila. The BBB consists of 75 flagship projects aimed at

improving the infrastructure of the Philippines.

In 2018, it was reported the government was eyeing to implement the Cebu International Container Port Project in Consolacion, Cebu, as well as the Davao Sasa Port Modernization Project for Mindanao, as it improves the country’s infrastructure backbone.

In line with ports, the Manila International Container Port (MICP) of the Bureau of Customs reported on Wednesday it breached its target revenue collections of P13.6 billion for April this year with actual collections reaching P13.822 billion, based on preliminary data.

MICP District Collector Erastus Sandino B. Austria thanked businesses and individuals who contributed their respective shares to the national coffer, helping ensure government projects are realized through their contributions.

During a speech on Monday at the inauguration of Berth 2 of the Batangas Container Terminal (BCT), Finance Secretary Carlos G. Dominguez III encouraged Asian Terminals Inc. (ATI) and its shareholder Dubai’s DP World to participate in the infrastructure projects of the government.

“Thank you again to the proponents of this project, ATI and DP

World. We hope this won’t be the last project you’ll have. There are many other ports to be modernized.

There will be a new port in Consolacion, Cebu; there will be four ports in Mindanao. We look forward to your participation in those areas,” Dominguez said.

On Monday, the ATI unveiled the newly completed Berth 2 at the BCT with its improved crane capac-

SEC revokes incorporation papers of Yeheey

Power players face grilling over brownouts at Senate hearing

T

HE Securities and Exchange Commission (SEC) said it has revoked the certificate of incorporation of Yeheey iTraffic System Inc. for serious misrepresentation and for engaging in what appears to be a pyramid scheme.

The agency’s Enforcement and Investor Protection Department (EIPD) issued the order of revocation against Yeheey on April 4 on the ground of serious misrepresentation of what the corporation can do or is doing to the great prejudice of or damage to the general public.

The EIPD said the corporation enticed members of the public to register as “premium subscribers” by paying P1,000 and to recruit more members in exchange for high returns.

Yeheey then offered various ways for members to earn points and money. For instance, a member could earn 1,200 points by simply logging in and out four times daily for six days and $2 for every new member recruited.

The agency said such a scheme constitutes a public offering of securities, in the form of investment contracts, and requires a secondary license from the SEC, pursuant to Sections 8 and 12 of the Securities Regulation Code.

Separate certifications from the agency’s Markets and Securities Regulation Department, Corporate Governance and Finance Department and Company Registration Monitoring Department showed Yeheey neither obtained nor sought a permit to offer securities.

Besides, selling or offering for sale or distribution of securities in the Philippines was beyond the powers that Yeheey could have exercised under its articles of incorporation.

“Considering that nowhere is it stated in the primary purpose that Yeheey is authorized to engage in the selling or offering for sale of securities to the public, the activity of Yeheey of selling or offering for sale of investments is considered an ultra vires act and, therefore, constitute serious misrepresentation,” the agency said. In addition, the EIPD found that Yeheey engaged in a Ponzi scheme, an investment program that offers impossibly high returns and pays these returns to early investors out of the capital contributed by later investors. This is prohibited under Section 26 of the Securities Regulation Code. VG Cabuag

By Butch Fernandez @butchfBM

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EGULATORS, generation companies and power distribution firms face grilling at Thursday’s Senate Energy committee hearing on the series of unplanned brownouts that disrupted industries and caused massive inconvenience to households.

Energy Committee chairman, Sen. Sherwin Gatchalian, confirmed that among those called to testify at the Senate inquiry to assess the need for crafting remedial legislation are the major players of the power industry.

These include officials of the Department of Energy (DOE), Energy Regulatory Commission (ERC), power-generating companies (gencos), Manila Electric Co. (Meralco), the privately owned National Grid Corp. of the Philippines (NGCP) and other power stakeholders.

A bicameral oversight panel is mulling over the imposition of stiff sanctions against major players of the multibillion-peso power industry in the wake of the recent Luzon brownouts.

“We are looking into penalizing and disincentivizing forced and unplanned outage that led to massive brownouts a few weeks ago,” Gatch-

alian told the BusinessMirror on the eve of Thursday’s hearing.

Gatchalian said concerns by inconvenienced consumers, as well as businesses affected by the prolonged brownouts prompted the inquiry.

“The gencos should do a better job in maintaining their power plants and improve their performance,” he added. Gatchalian earlier affirmed the need for the oversight panel to conduct fact-finding inquiries to verify claims by energy players on the cause of sudden outages.

Senators were also keen to get firm assurances from power providers there will be no brownouts during the May 13 midterm elections.

J. Rotbart & Co. seeks to retain 20% gold transactions from PHL by year-end

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ONG KONG-BASED company J. Rotbart & Co. said on Tuesday that 20 percent of its global transactions in gold during the first quarter of 2019 originated from the Philippines since the opening of its local office last January.

Without citing the exact amount, the family-owned boutique firm specializing in physical precious metals and tangible assets is estimated to have generated about $10 million in gold deals here in the first three months of the year, as Founder and Managing Partner Joshua Rotbart hinted a ball-park figure they “trade about $200 million a year” worldwide.

“It’s still not extremely high, but again it’s growing,” he told reporters during their media briefing held at the Manila House Private Members Club in Bonifacio Global City, Taguig. “So for us, it’s a very important key market.”

Based on the World Gold Council (WGC) report, gold has a strong history in improving the risk-adjusted returns of investment portfolios, reducing losses and providing liquidity in times of market stress.

Being a low-risk, low-maintenance investment instrument, it usually shows a good performance even during financial uncertainties.

In fact, gold has a positive record in protecting investors against

extreme inflation, as its price increased by more than 14 percent on average during years when it was higher than 3 percent, per the WGC. Hence, investment demand for this precious metal internationally has grown at an average of 18 percent annually since 2001.

In the Philippines alone, gold has always been considered as a strategic tangible asset for wealth preservation and diversification.

But interested Filipino investors need direct and streamlined access to the gold market. This is where J. Rotbart & Co. comes in as it brings its in-depth experience and years of managing around $1 billion in precious metals to serve local investors.

Its physical metal services include sourcing and liquidation of gold, silver, platinum and palladium bars and coins. The firm offers 10 secure tax-free vaults globally and delivery of bullion to over 35 destinations worldwide.

Also, it specializes in authentication and assaying of bullion, as well as lending using physical metals holdings as collateral. Its services lately include the conversion of cryptocurrencies to gold and vice versa through JR-Crypto.

“Gold is more than just a status symbol or a commodity. Its track record has shown it can be a strategic asset for wealth protection and

diversification to help investors become more than ready when financial market stress strikes. And, we at J. Rotbart & Co. are here to provide Filipino investors the opportunity to access the gold market with a streamlined process that will help them meet their investment goals,” said Rotbart.

Currently, the company is working with BDO private bank to offer gold as an investment tool for their clients. It is open to partner with more local banks and other investment houses to sustain the growth of its business.

“We’re going to keep this 20-percent ratio for this year,” Rotbart said of their target to sustain the local market’s contribution to their overall transactions worldwide.

He added they plan to get onboard 2 percent of the estimated 20,000 “million dollar” networth individuals in the country by the end of 2019. At present, the company serves only “less than 1 percent” of these wealthy Filipinos.

Industry-wide, J. Rotbart & Co. also remains bullish on its expectations of the gold trade investment in the country even though it’s not yet fully developed in the Philippines. The country is still in a “very sporadic” state, where it’s very individual-based and mostly coursed through offline entities or banks overseas. Roderick L. Abad

PHL’s first coal-fired plant with supercritical tech to be completed by September

By Lenie Lectura @llectura

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HE country’s first coal-fired power plant to use supercritical technology is on track for completion in September this year.

“San Buenaventura Power Ltd. [SBPL] is at 99.29-percent EPC [engineering, procurement, construction] accomplished and still tracking commercial operation date [COD] by end-September 2019. So, we expect full positive results by end 2020,” Meralco PowerGen (MGen) President Rogelio Singson said.

SBPL is a partnership between MGen and New Growth BV, a wholly owned subsidiary of Electricity Generating Public Co. Ltd. of Thailand.

It is constructing a 455-megawatt (MW) supercritical coal-fired power plant in Mauban, Quezon, worth P56.2 billion.

The electricity to be generated by the plant will be sold to Meralco, the country’s largest distribution utility, under a 20-year powersupply agreement. This project would bring in additional revenues to Meralco in 2020.

The plant’s capacity and energy are contracted to Meralco, pursuant to a 20-year power-supply agreement which is extendable for up to an additional five years.

The SBPL power plant will play a crucial role as electricity demand grows, especially in Luzon which accounts for about 70 percent of the country’s gross domestic product.

“Power generation will be our game changer. We are looking forward to September this year when Meralco finally reenters baseload

power generation and can better assure customers in its strategic franchise area adequate, reliable and affordable power supply after our 455-MW SBPL coal plant comes on stream,” Singson said.

The company tapped the consortium of Daelim Industrial Co. Ltd. and Mitsubishi Corp. as the EPC contractor for the project.

SBPL achieved financial close for the power project in December 2015 for a total debt of P42.1 billion.

MGen is also currently working on several opportunities in wind, solar and hydropower development.

In particular, MGen’s development and investment list of targeted projects is a total of 224MW, land-based solar facilities that will be completed this year and in 2020.

Singson said the large renewableenergy requirement of distribution utilities (DUs) and electric cooperatives under the Renewable Portfolio Standards (RPS) is more than compelling reason for MGen to allocate resources into this area.

“We continue to pursue RE opportunities. There is going to be room for more RE because of RPS. We are confident there should be heavy project implementation by end of this year and hopefully, bigger capacity by next year,” Singson added.

The RPS policy of the Department of Energy (DOE) mandates power generators, distribution utilities and suppliers to source a specified portion of their electricity requirements from eligible RE resources.

MGen is targeting to scale up its RE portfolio to as much as 1,000 MW, mostly solar power, in the next three years.

First mini-grid project to boost rural electrification nationwide

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HE country’s first hybridpowered mini-grid project in Sabang, Palawan, which will be completed this month, is a muchneeded boost to help government achieve a 100-percent household electrification by 2022.

“Sabang Renewable Energy Corp.’s [SREC] hybrid mini-grid project is the first hybrid—solar, diesel and battery—system in off-grid areas under the Qualified Third Party [QTP] program to support the country’s total electrification program.

The area to be served by the project will experience 24/7 electricity services,” Department of Energy (DOE) Undersecretary Felix William Fuentebella said.

QTP was designed to attract alternative service providers and private investments in rural electrification.

In order to qualify for the QTP, the DOE said interested firms must pass the accreditation process. QTP firms must have the power generation and distribution facilities to service remote areas where the distribution lines of power cooperatives cannot be immediately extended. Once accredited, QTP firms can select areas for development and implement their plan upon approval from the DOE. The Energy Regulatory Commission issued a provisional authority to SREC to operate as QTP on October 26, 2018.

When asked why the DOE approved the project, Fuentebella said this was consistent with Section 59 of the Electric Power Industry Reform Act of 2001 (Epira), which introduced alternative service providers to areas that cannot be served by the franchised distribution utility.

“The area was waived by the Palawan Electric Cooperative [Paleco] be-

cause it was found to be unviable for energization through conventional grid connected electrification,” he said.

Moreover, he said, the solar-battery-genset hybrid system “serves as a showcase for off-grid/mini-grid electrification projects” that supports the DOE. SREC’s project will provide stable, reliable and renewable energy that will power further growth in Sitio Sabang, Barangay Cabayugan, where the Puerto Princesa Subterranean National Park is located.

SREC is a consortium of Vivant Energy Corp., Gigawatt Power Inc. and WEnergy Global. It will operate a hybrid power plant—combining solar panels and diesel engines—and an electricity distribution system in Barangay Cabayugan, Puerto Princesa City.

“We are not merely installing four diesel engines and a 1.4-megawatt peak [MWp] solar energy system.

We’ve been building our own grid from the ground up, and erecting electrical poles and cables spanning 14 kilometers since April 2018,” SREC Chairman Emil Garcia had said.

Under optimal conditions, the hybrid plant will generate as much as 2.6-MW once it is completed. This will allow the mini-grid to provide power to approximately 10 public buildings, 18 small businesses, 19 hotels and restaurants, and 583 households.

“By combining solar panels and diesel-fueled power generation, SREC will save the environment from over 25,000 metric tons of carbon dioxide while providing stable and reliable energy that will improve everyday living in Cabayugan,” the chairman said. Lenie Lectura

B2

Companies BusinessMirror

Thursday, May 2, 2019

PSE STOCK QUOTATIONS

April 30, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

58 133.4 83.6 26.5 11.58 75.95 12.5 21.4 52.25 58.15 25.6 179.6 60.55 1.28 18.9 4.8 1.38 0.485 780 0.91 177 1815

58.6 133.8 83.7 26.7 11.6 76 13.5 21.5 52.4 58.9 25.65 180 60.95 1.3 18.94 4.84 1.42 0.49 820 0.94 178.7 1825

58 133.8 83.9 26.8 11.6 75.75 13.5 21.5 52 58.95 25.9 180.9 61 1.3 18.94 4.62 1.42 0.495 785 0.96 181 1830

58.6 134.1 83.9 26.8 11.66 76.85 13.5 21.5 52.8 58.95 25.9 180.9 61 1.3 18.94 4.9 1.42 0.51 800 0.97 181 1830

58 133 83.6 26.5 11.58 75.5 13.5 21.5 51.85 58 25.6 179.1 60.5 1.28 18.92 4.6 1.38 0.475 780 0.91 181 1815

58.6 133.8 83.7 26.5 11.6 76 13.5 21.5 52.4 58 25.6 180 60.55 1.3 18.94 4.84 1.38 0.49 800 0.91 181 1815

9180 805020 2728110 231800 247000 2790080 500 100 44370 310 65200 96640 670 17000 3400 428000 5000 2848000 830 1275000 160 200

535458 107507134 228444966 6149110 2867806 211923256 6750 2150 2316419.5 18257.5 1671790 17394105 40684.5 22000 64390 2058450 6940 1390525 661650 1206400 28960 364650

INDUSTRIAL ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHINMA ENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA EUROMED LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

1.39 37.35 0.236 21.5 79 383 22.6 6.4 4.4 1.57 11.9 45.2 6.91 15.58 14.62 15.36 5.98 10.78 7.39 113.7 0.85 28.6 304 50 10.06 14.92 0.194 1.23 12.9 1.63 4.75 2.01 0.128 145.5 1.44 2.5 66.5 2.07 5.4 15.98 9.31 11.72 22.45 9.04 0.96 1.18 108 1.95 1.56 3.83 3.41 5.05 45 2.59 11.22 1.74 5.97 1.25 27.1

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANGLO PHIL HLDG ATN HLDG A ATN HLDG B BHI HLDG COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT JOLLIVILLE HLDG LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG MJC INVESTMENTS METRO PAC INV PACIFICA PRIME ORION PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES WELLEX INDUS ZEUS HLDG

0.6 18.4 885 54 14.82 0.77 1.38 1.4 1251 7.55 11.48 14.9 0.241 850 6.41 64.05 5.5 0.495 5.02 16 0.55 2.76 4.43 0.038 2.86 1.12 1.33 434 944 174.9 0.93 0.236 0.33

1.44 37.5 0.245 21.6 79.6 383.2 22.85 6.41 4.5 1.58 12.08 45.3 6.95 15.6 16.28 15.38 5.99 10.88 7.42 114.4 0.87 28.8 304.8 52.5 10.46 15 0.202 1.24 12.98 1.7 4.8 2.12 0.13 145.7 1.45 2.66 70.4 2.08 5.85 16 9.38 11.76 22.5 9.1 0.98 1.2 110 1.98 1.69 3.9 3.55 5.22 45.5 2.6 11.24 1.75 6.1 1.29 27.5

1.38 37.4 0.245 21.7 78.3 384 22.5 6.22 4.47 1.42 11.82 45.55 6.9 16.08 16.3 15.5 5.99 10.76 7.39 114.9 0.87 28.55 303.4 52.5 10.08 15.02 0.194 1.24 12.7 1.65 4.85 2.11 0.128 142.3 1.38 2.5 68.35 2 5.85 15.9 9.4 11.44 22.05 9.1 0.96 1.2 110 1.99 1.69 3.84 3.6 5.1 45 2.43 12.46 1.77 6.04 1.25 28

1.44 37.7 0.245 21.7 79.1 384 22.85 6.43 4.5 1.57 12.08 45.6 7.08 16.2 16.3 15.5 5.99 10.94 7.42 114.9 0.87 28.65 304.8 52.5 10.54 15.14 0.2 1.25 12.92 1.71 4.85 2.12 0.128 145.6 1.44 2.52 68.35 2.1 5.85 16 9.42 11.78 22.5 9.1 1 1.21 110 1.99 1.69 3.88 3.6 5.25 45 2.66 12.56 1.77 6.04 1.29 28.7

1.38 37.1 0.244 21.5 78.3 380.6 22.5 6.12 4.42 1.42 11.82 45 6.8 15.6 16.3 15.34 5.8 10.76 7.38 113 0.85 28.55 302.8 52.5 10.08 14.9 0.194 1.22 12.7 1.65 4.8 2.11 0.128 142.3 1.37 2.5 66 2 5.85 15.8 9.15 11.24 22.05 9.1 0.96 1.17 110 1.95 1.69 3.83 3.41 5 45 2.33 10.84 1.75 6.02 1.24 27.1

1.44 37.5 0.245 21.5 79 383 22.6 6.41 4.5 1.57 12.08 45.2 6.95 15.6 16.3 15.38 5.98 10.88 7.4 114.4 0.86 28.6 304 52.5 10.08 15 0.2 1.25 12.9 1.71 4.8 2.12 0.128 145.5 1.44 2.5 68.3 2.07 5.85 15.98 9.38 11.72 22.5 9.1 0.96 1.2 110 1.95 1.69 3.83 3.55 5.05 45 2.6 11.22 1.75 6.02 1.29 27.5

41000 1011500 510000 645100 246300 100960 1414400 3898200 32000 30609000 212200 88500 64600 587200 1000 1123600 7400 1941200 1120900 50980 1256000 4500 284530 10 9300 381900 140000 1500000 280100 13000 146000 112000 470000 1277220 5916000 521000 1100 38348000 200 498600 90200 3185100 720600 200 619000 1448000 310 69000 6000 116000 3000 44200 150300 14020000 5152100 70000 27900 69000 116400

56920 37900685 124650 13893810 19450305 38621120 32009970 24433269 143410 46580300 2550194 3996685 446672 9331402 16300 17255354 43927 21036960 8286737 5817083 1083680 128740 86318928 525 94008 5747636 27760 1863310 3610880 21510 702990 237420 60160 185697633 8391300 1304500 73835 79056270 1170 7968250 835900 37226368 16133930 1820 598030 1711370 34100 135010 10140 445180 10560 223253 6763500 35071240 58461196 122860 168208 86280 3236555

HOLDING & FRIMS 0.61 18.48 890 54.25 14.84 0.78 1.39 1.46 1699 7.56 11.52 14.92 0.25 860 6.57 65 5.58 0.52 5.03 16.08 0.58 3.39 4.44 0.04 2.9 1.13 1.34 471.2 950 175 0.94 0.241 0.335

0.62 18.76 885 55.15 14.5 0.76 1.39 1.4 1251 7.6 11.78 14.92 0.241 852 6.42 65.65 5.5 0.52 5.17 15.8 0.55 3.38 4.4 0.039 2.93 1.13 1.34 430 951.5 177.2 0.98 0.236 0.33

0.62 19 894 56.1 14.86 0.78 1.4 1.4 1251 7.6 11.78 15.2 0.25 868.5 6.42 65.65 5.5 0.52 5.17 16 0.58 3.39 4.47 0.04 2.93 1.13 1.34 473 953 178 0.98 0.241 0.34

0.59 18.46 883 54 14.5 0.75 1.37 1.39 1251 7.54 11.4 14.88 0.241 828.5 6.41 63.7 5.5 0.5 5.02 15.5 0.55 3.38 4.4 0.038 2.84 1.13 1.34 430 935.5 173.8 0.93 0.236 0.325

0.6 18.48 885 54 14.82 0.77 1.39 1.4 1251 7.56 11.52 14.92 0.25 852 6.41 65 5.5 0.52 5.02 16 0.58 3.39 4.44 0.04 2.86 1.13 1.34 434 950 175 0.94 0.241 0.335

9388000 22200 254930 1299830 6762700 904000 3501000 414000 10 359200 3846300 1219200 40000 516500 14900 1743150 5500 11000 289500 1888300 5000 6000 23351000 5700000 1043000 2000 21000 190 183520 256830 1251000 210000 2830000

5602450 414462 225800370 70734549.5 99356454 683040 4862580 579590 12510 2716836 44309948 18227490 9810 441944095 95559 112753678 30250 5680 1460804 29783940 2840 20310 103662610 221000 2993240 2260 28140 84310 173739845 44953206 1182180 49610 932550

226300 34785074 6996535 -4394645 -96204 -21940888.5 1155258 -905360 7939609 -19981 51132 -233210 10348740 122200 -2172445 -16892092 -2686068 -4136145 -2669791 145300 -211258 -2058225 1360 -555094 -1324334 -9261050 -100575 2076518 -43790324 447408 477380 -38160.0002 -58309489 13700 1052500 -22414450 -936000 13980 526536 8172715 -5950 -36650 -187718 -76500 1468970 24088798 -713425 -5070 7588 -81113920 -37402525.5 -11492604 576790 -911662 -27469982 1950090 -45789695 3487480 -941338 -7688860 -36965330 -0 -23086185 -31354197 -

PROPERTY

ARTHALAND CORP 0.78 0.79 0.79 0.8 0.77 0.77 576000 451110 ANCHOR LAND 10.04 11.18 11.2 11.2 10.02 11.18 6000 61436 AYALA LAND 48.9 49.5 48 49.5 47.95 49.5 18473500 901647970 272334205 ARANETA PROP 1.93 1.99 1.99 2 1.99 1.99 220000 437810 BELLE CORP 2.43 2.44 2.45 2.47 2.43 2.44 286000 700790 -29370 A BROWN 0.76 0.77 0.77 0.78 0.75 0.77 985000 747810 CITYLAND DEVT 0.91 0.92 0.91 0.92 0.91 0.92 8000 7310 CROWN EQUITIES 0.237 0.245 0.24 0.242 0.237 0.237 7290000 1746570 -456140 CEBU HLDG 6.33 6.5 6.33 6.5 6.33 6.5 2200 14263 CEB LANDMASTERS 4.3 4.35 4.3 4.38 4.3 4.35 1886000 8172570 1188640 CENTURY PROP 0.51 0.52 0.51 0.52 0.5 0.51 7892000 4016540 -697680 DOUBLEDRAGON 25.65 25.7 25.85 26 25.4 25.7 645200 16589325 6945185 DM WENCESLAO 10.76 10.78 10.82 11 10.6 10.76 574700 6139780 372300 EMPIRE EAST 0.49 0.495 0.495 0.495 0.49 0.49 280000 137550 FILINVEST LAND 1.52 1.53 1.52 1.54 1.52 1.53 8042000 12237040 435580 GLOBAL ESTATE 1.3 1.31 1.29 1.32 1.29 1.3 1388000 1809410 -156000 8990 HLDG 14.46 14.5 13.94 14.7 13.94 14.5 2178600 31064506 -255342 PHIL INFRADEV 1.65 1.66 1.75 1.75 1.64 1.66 6173000 10425400 358030 CITY AND LAND 0.83 0.85 0.82 0.83 0.82 0.83 5000 4130 MEGAWORLD 5.57 5.59 5.6 5.6 5.56 5.59 36098000 201848961 -16128126 MRC ALLIED 0.335 0.34 0.335 0.34 0.33 0.335 14140000 4705950 13200 PHIL ESTATES 0.475 0.49 0.49 0.49 0.49 0.49 20000 9800 PRIMEX CORP 2.41 2.47 2.41 2.5 2.4 2.41 332000 804260 -243000 ROBINSONS LAND 24.4 24.5 23.8 24.5 23.8 24.5 3484200 84718635 16999790 PHIL REALTY 0.42 0.435 0.42 0.43 0.42 0.43 540000 226900 ROCKWELL 1.97 2 1.99 2.01 1.96 2 846000 1690490 435990 SHANG PROP 2.95 3.04 3.01 3.04 2.95 3.04 1050000 3127300 94400 STA LUCIA LAND 1.68 1.69 1.69 1.7 1.68 1.7 868000 1468420 -338000 SM PRIME HLDG 40.6 40.8 40 40.8 39.65 40.8 10315000 416676840 59334605 STARMALLS 7.08 7.12 6.99 7.12 6.87 7.12 258900 1810033 547883 SUNTRUST HOME 0.73 0.74 0.74 0.74 0.74 0.74 408000 301920 148000 VISTA LAND 7.31 7.32 7.3 7.4 7.29 7.32 4679600 34263821 4741625

SERVICES ABS CBN 19.02 19.04 19.2 19.2 19 19.04 95800 1823484 GMA NETWORK 5.12 5.13 5.19 5.19 5.1 5.13 337800 1730949 MANILA BULLETIN 0.59 0.6 0.62 0.62 0.58 0.6 685000 407020 MLA BRDCASTING 15.12 16.8 15.1 15.1 15.08 15.08 1000 15092 GLOBE TELECOM 1759 1780 1790 1837 1755 1780 53280 94930560 23716855 PLDT 1220 1234 1237 1237 1202 1234 99875 122224560 7298800 APOLLO GLOBAL 0.039 0.04 0.04 0.04 0.04 0.04 4700000 188000 DFNN INC 6.53 6.95 6.52 6.95 6.52 6.95 28000 191670 ISLAND INFO 0.126 0.129 0.126 0.129 0.125 0.126 1760000 222180 ISM COMM 5.1 5.11 4.9 5.11 4.8 5.11 2627000 12967530 -1156390 JACKSTONES 2.97 3.04 2.97 3.04 2.96 3.04 30000 89170 NOW CORP 2.32 2.33 2.39 2.39 2.3 2.33 1700000 3981780 -7000 TRANSPACIFIC BR 0.365 0.37 0.37 0.375 0.365 0.37 2060000 759700 PHILWEB 3.02 3.04 3.05 3.14 3 3.04 1654000 5065430 -191700 2GO GROUP 12.6 13 13 13.02 12.6 13 48900 629262 ASIAN TERMINALS 15.02 15.54 15.38 15.48 15.38 15.48 3000 46290 CHELSEA 5.28 5.29 5.1 5.29 5.09 5.29 2360300 12212391 -2826380 CEBU AIR 81.2 82 82.2 82.3 81 81.2 88870 7262670 -105723.5 INTL CONTAINER 123.3 124 121.4 125 121.4 124 3219290 398531417 83345697 LBC EXPRESS 15.16 15.76 15.16 15.16 15.16 15.16 300 4548 LORENZO SHIPPNG 0.81 0.82 0.83 0.87 0.8 0.83 1498000 1218890 82000 MACROASIA 21.65 21.7 21.6 21.8 21.6 21.7 739800 16054630 3332575 METROALLIANCE A 1.74 1.84 1.69 1.89 1.68 1.84 164000 297900 PAL HLDG 10 10.02 10.4 10.4 10 10 5900 59820 HARBOR STAR 2.83 2.84 2.83 2.88 2.83 2.84 484000 1379720 142500 BOULEVARD HLDG 0.07 0.071 0.07 0.071 0.07 0.07 7990000 560860 16100 DISCOVERY WORLD 2.06 2.18 2.05 2.05 2.05 2.05 1000 2050 WATERFRONT 0.66 0.67 0.67 0.68 0.66 0.67 1319000 878830 CENTRO ESCOLAR 7.03 7.99 7.04 7.04 7.03 7.03 2000 14071 IPEOPLE 11.02 11.48 11.02 11.02 11.02 11.02 6500 71630 STI HLDG 0.67 0.68 0.68 0.68 0.67 0.68 1160000 781830 -190710 BERJAYA 2.55 2.57 2.27 2.7 2.27 2.55 2525000 6401780 -20110.0001 BLOOMBERRY 12.98 13 12.52 13 12.52 13 9408200 120634382 23959054 PACIFIC ONLINE 4.27 4.29 4.31 4.31 4.25 4.27 11000 47210 -60 LEISURE AND RES 3.74 3.77 3.82 3.82 3.72 3.75 806000 3024560 -1598250 MANILA JOCKEY 4.75 4.79 4.75 4.75 4.75 4.75 3000 14250 PH RESORTS GRP 4 4.17 3.9 4.18 3.9 4.18 89000 361340 PREMIUM LEISURE 0.74 0.75 0.76 0.76 0.73 0.74 2541000 1882240 73380 PHIL RACING 7.15 8.15 8.15 8.15 8.15 8.15 200 1630 TRAVELLERS 5.62 5.64 5.62 5.63 5.62 5.63 86700 487552 -96153 METRO RETAIL 3.44 3.45 3.47 3.48 3.44 3.45 4101000 14155060 583370 PUREGOLD 43.55 44 43.35 44 43.25 44 3794900 166508285 -22433055 ROBINSONS RTL 77 78.3 78.3 78.3 76.75 78.3 97890 7618293.5 -3022072.5 PHIL SEVEN CORP 116 116.5 115.5 116 115.5 116 1300 150650 -1155 SSI GROUP 2.68 2.7 2.7 2.74 2.68 2.7 6812000 18419950 6317610 WILCON DEPOT 16.7 16.8 17 17.04 16.5 16.8 858500 14333438 3655102 APC GROUP 0.415 0.425 0.415 0.42 0.41 0.42 150000 62350 EASYCALL 13.5 13.52 11.9 14.26 11.2 13.5 2083000 28010848 -30272 GOLDEN BRIA 408 421 409 430 408 408 2790 1150408 20400 IPM HLDG 7.04 7.05 7.05 7.05 7.05 7.05 6000 42300 PAXYS 3.11 3.19 3.11 3.11 3.11 3.11 15000 46650 PRMIERE HORIZON 0.96 0.97 0.96 0.98 0.93 0.96 46727000 44608970 82160 SBS PHIL CORP 9.04 9.05 9.04 9.04 8.81 9.04 10500 94258 -37023

MINING & OIL ATOK 11.46 12.06 12.4 12.78 11.34 12.08 35300 435482 123802 APEX MINING 1.36 1.38 1.39 1.4 1.35 1.38 1722000 2354860 32520 ABRA MINING 0.0019 0.002 0.002 0.002 0.002 0.002 152000000 304000 ATLAS MINING 2.82 2.89 2.9 2.9 2.8 2.89 182000 513860 -286630 BENGUET A 1.29 1.54 1.29 1.57 1.29 1.57 8000 12280 BENGUET B 1.21 1.49 1.55 1.55 1.21 1.21 16000 21730 COAL ASIA HLDG 0.29 0.3 0.29 0.29 0.29 0.29 500000 145000 CENTURY PEAK 2.7 2.72 2.71 2.72 2.7 2.72 381000 1031400 -537330 DIZON MINES 8 8.05 8.08 8.1 7.99 8.01 6400 51280 FERRONICKEL 1.49 1.52 1.5 1.52 1.48 1.52 10954000 16491260 2126230 GEOGRACE 0.25 0.255 0.255 0.255 0.247 0.255 620000 154800 LEPANTO A 0.112 0.113 0.115 0.115 0.113 0.113 560000 63570 LEPANTO B 0.113 0.122 0.113 0.113 0.113 0.113 10000 1130 MANILA MINING A 0.0085 0.0089 0.0089 0.009 0.0087 0.0087 3000000 26600 MANILA MINING B 0.0084 0.009 0.0086 0.009 0.0085 0.0086 6000000 52400 MARCVENTURES 1.08 1.09 1.06 1.09 1.05 1.09 80000 85110 NIHAO 0.98 1 1.01 1.01 0.98 1.01 55000 54220 NICKEL ASIA 2.47 2.49 2.46 2.49 2.44 2.47 933000 2307900 33200 ORNTL PENINSULA 0.91 0.92 0.92 0.92 0.9 0.92 238000 218940 PX MINING 3.15 3.16 3.19 3.19 3.15 3.15 366000 1158200 SEMIRARA MINING 23.7 23.75 23.7 23.95 23.5 23.7 627700 14883505 7253665 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 8300000 99700 PHILODRILL 0.011 0.012 0.011 0.012 0.011 0.012 100100000 1201100 PHINMA PETRO 3.11 3.19 3.11 3.11 3.1 3.1 9000 27950 12400 PXP ENERGY 8.57 8.58 9.41 9.8 8.53 8.57 19632700 182927943 4194168

PREFFERED

HOUSE PREF A 94 95.95 95.9 95.9 95.9 95.9 200 19180 AC PREF B2 497 497.2 497 497 497 497 70 34790 DD PREF 96.2 97.9 96.1 97.9 96.1 97 2710 264386 SMC FB PREF 2 970 980.5 975 975 975 975 1070 1043250 FGEN PREF G 101.1 104.2 103 104 103 104 54660 5684530 LR PREF 1 1.01 1.01 1.01 1.01 1.01 221000 223210 MWIDE PREF 100 102.9 100.1 102.9 100.1 102.9 1010 103901 PNX PREF 3A 100 100.5 100 100 100 100 30000 3000000 PNX PREF 3B 104 106 105 105 105 105 500 52500 SFI PREF 1.45 1.75 1.45 1.45 1.45 1.45 10000 14500 SMC PREF 2B 75 75.9 75 75 75 75 4480 336000 SMC PREF 2C 76 76.9 76.9 76.9 76.05 76.05 9030 690327 SMC PREF 2D 72.55 72.95 72.5 72.5 72.5 72.5 10 725 SMC PREF 2E 71.55 73 72.55 72.55 72.55 72.55 44800 3250240 SMC PREF 2G 73 74.15 73 73 73 73 4010 292730 SMC PREF 2H 72.75 73.65 73.65 73.7 73.65 73.65 26930 1984450.5 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.08 5.01

18.5 5.23

18.5 5.12

18.5 5.12

18.06 5.01

18.08 5.01

14300 2000

258710 10108

WARRANTS LR WARRANT

1.91

SMALL & MEDIUM ENTERPRISES ITALPINAS 5.3 XURPAS 1.16

1.92

1.98

1.98

1.91

1.91

59000

114540

-

5.33 1.17

5.05 1.13

5.4 1.18

5.02 1.12

5.3 1.17

2414100 4869000

12660255 5614040

644394 -255200

EXHANGE TRADE FUNDS FIRST METRO ETF

117.2

5846.0002 -

117.9

117.5

117.5

117.2

117.5

13830

1623833

-

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Prodded on ‘endo,’ Duterte seeks passage of Security of Tenure bill

P

By Bernadette D. Nicolas

@bdnicolas

RESIDENT Duterte has once again prodded Congress to pass pending bills on security of tenure and self-organization to improve the plight of workers.

In his L abor Day message sent to Malacañang reporters on Wednesday, Duterte said he remains hopeful that his counterparts in Congress will also do their part to protect workers’ rights.

“I remain optimistic that one year since I issued Executive Order [EO] No. 51 implementing existing constitutional and statutory provisions against illegal contracting, my counterparts in Congress will consider passing much needed legislative measures

that will fully protect our workers’ rights, especially to security of tenure and self-organization,” Duterte said.

Time is running out for the passage of Security of Tenure (SOT) bill since the 17th Congress will soon be ending its session.

Although President Duterte has certified as urgent the passage of SOT, it is still stuck in the period of amendments and has not hurdled second reading at the Senate.

Meanwhile, the bill on workers’ right to self-organization is still pending at the committee level at the Senate.

A year ago the President signed an EO prohibiting illegal contractualization, after mounting pressure from workers for the President to make good on his promise to end contractualization.

However, critics said this EO will not really end contractualization in the country.

Still, the administration has since argued that the Executive branch already did what it can do within its powers.

“It is unfortunate, however, that despite this yearly observance, the plight of our workers, especially those who choose to leave their families so they may earn better compensation abroad, remains the same. This is why my administration has implemented measures within its powers to afford full pro-

tection to labor and promote equal work opportunities for all,” Duterte added in his Labor Day message.

Nonetheless, the President lauded the hard work, grit and perseverance of the labor force as he expressed hope that Labor Day will inspire everyone to work toward improving the plight of workers “by creating an environment conducive to their personal and professional growth and development.”

“Every year, we set aside this day to celebrate their valuable contributions not only in the struggle to provide a better life for our people, but in building the foundations of a more promising future for succeeding generations of Filipinos,” Duterte said.

“Today, we celebrate the working class not as a tool of employers and capitalists, but as an essential catalyst for our nation’s overall progress,” he added.

Duty Free Philippines eyes more shoppers for 32nd anniversary sale

By Roderick L. Abad

@rodrik_28

Contributor

D

UTY Free Philippines (DFP) expects its highly anticipated anniversary sale to draw more customers to Fiesta Mall in Parañaque City as it turns 32 this year.

The promo, which runs on May 4 and 5, is projected to double the number of 3,300 shoppers that participated in a similar event in 2018.

Mallgoers can avail themselves of maximum discounts of 50 percent on toys, baby products, home and office supplies; 30 percent on perfumes, cosmetics, jewelries, watches and electronics; 25 percent on chocolates and snacks; 20 percent on sporting goods; 15 percent on wine and liquor; and 10 percent on grocery items.

Participating brands include Lacoste, Dolce and Gabbana, Ralph Lauren, DKNY, Giorgio Armani, Calvin Klein, Tiffany and Co., Salvatore Ferragamo, Bvlgari, Marc Jacobs, Calvin Klein, Yves Saint Laurent, Hugo Boss, Kate Spade, Ray-Ban, Jo Malone, Lamer, Charriol, Keleo, Estee Lauder, Victoria’s Secret, and more.

Over the last 32 years, the retail company has provided a duty and tax-free merchandising system to

overseas Filipino workers, repatriates and regular local travelers.

“I am fortunate to have grown up professionally in DFP—rose from the ranks and have witnessed different management strategies that shaped DFP today,” said Vicente Pelagio A. Angala, chief operating officer of DFP. The first store located at the arrival area of the Ninoy Aquino International Airport (Naia) was opened on May 2, 1987. It had a capitalization of only $91,000. Another DFP outlet with sleek and modern designs opened at the departure area of Naia a month after.

It was then followed by a third branch at the Mactan International Airport in Cebu by end of the same year. The flagship store, Fiestamall, opened in April 1997.

Half of the revenues of DFP, a government-owned and -controlled corporation, is remitted to the Department of Tourism. The latter allocates it to finance tourism development projects.

“The story of DFP is still being written, and as the next chapter unfolds, I am confident we will be able to exceed the market needs and expectations in providing worldclass service to uphold our mission to be service to Philippine tourism,” Angala said.

Global battery energy storage market to grow by 7% to $13.13 billion by 2023

T

HE global battery energy storage market is forecast to grow by 7 percent to $13.13 billion by 2023. Asia-Pacific and Europe, Middle East and Africa (EMEA) will be the dominant markets for battery energy storage systems over the forecast period 2019-2023, said GlobalData, a leading data and analytics company.

The company’s latest report “Battery Energy Storage Market, Update 2019—Global Market Size, Competitive Landscape and Key Country Analysis to 2023” reveals that the fall in technology prices and increasing pace of development in the power market are the primary driving factors for the battery energy storage market. Asia-Pacific will continue to be the largest market, reaching

$6.05 billion in 2023, as countries are increasing investments for improving their grid infrastructure and improving the market structure to attract foreign investments. With respect to technology, Lithium-ion is and will continue to be the preferred technology for market deployment.

Bhavana Sri, Power Analyst for GlobalData commented: “The US has been the largest market for Battery Energy Storage System both in terms of cumulative installed capacity and by market value for projects installed up to 2018, and is likely to continue to lead the market at the country level. The US market for battery energy storage is estimated to reach $2.96 billion in 2023, accounting for 23 percent of the global market.”

MUTUAL FUNDS

April 30, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 263.42 -0.23% 1.56% 1.35% 4.44% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.607 3.13% 10.34% 2.91% 11.54% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.1225 -1.43% 2.07% 0.33% 5.62% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9359 0.98% N.A. N.A. 5.1% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8686 2.65% N.A. N.A. 5.84% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4951 2.11% 1.41% 1.08% 4.25% MBG EQUITY INVESTMENT FUND, INC. -A 127.08 10.63% N.A. N.A. 9.12% ONE WEALTHY NATION FUND, INC. -A 0.8764 -0.59% -3.32% N.A. 5.29% PAMI EQUITY INDEX FUND, INC. -A 52.0814 2.53% 2.59% N.A. 5.85% PHILAM STRATEGIC GROWTH FUND, INC. -A 544.01 2.02% 1.53% 1.2% 5.69% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3116 2.94% 3.03% 3.88% 4.59% PHILEQUITY FUND, INC. -A 38.6855 3% 3.93% 3.32% 5.6% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0415 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2752 2.85% 3.54% 3.52% 6.38% PHILIPPINE STOCK INDEX FUND CORP. -A 880.53 2.97% 3.21% 3.48% 6.28% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9357 5.53% 2.55% N.A. 8.65% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3258 4.12% 3.51% 2.65% 6.58% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0124 2.46% 3.21% N.A. 6.09% UNITED FUND, INC. -A 3.7362 4.85% 5.59% 3.39% 6.72% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 117.801 3.28% 4.3% 4.55% 6.37% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0324 -5.67% 6.91% 1.67% 11.12% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2987 2.27% N.A. N.A. 17.52% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7205 -0.02% -0.27% -1.31% 4.2% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3136 -0.09% 1.43% 0.86% 4.73% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6389 1.86% -0.27% -1.38% 3.74% GREPALIFE BALANCED FUND CORPORATION -A 1.3535 -0.45% N.A. N.A. 3.77% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9183 2.63% 1.54% 1.47% 4.08% PAMI HORIZON FUND, INC. -A 3.6738 0.86% 0.14% 0.56% 4.09% PHILAM FUND, INC. -A 16.5963 1.94% 0.42% 0.63% 4.33% SOLIDARITAS FUND, INC. -A 2.1408 1.68% 1.73% 2.22% 3.31% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.85 3.51% 1.62% 1.71% 5.44% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.9978 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9969 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9952 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9806 3.53% 1.57% N.A. 6.39% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03611 3.29% 0.44% 1.55% 2.44% PAMI ASIA BALANCED FUND, INC. -A $0.9914 -4.73% 3.55% -0.28% 5.9% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7295 2.27% 6.27% 3.19% 12.73% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.0941 1.2% N.A. N.A. 8.33% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.94 2.88% 2.06% 2.16% 1.33% ATRAM CORPORATE BOND FUND, INC. -A ,1 1.8849 1.03% -0.16% -0.1% 1.38% COCOLIFE FIXED INCOME FUND, INC. -A 3.0187 5.3% 5.22% 5.28% 1.61% EKKLESIA MUTUAL FUND INC. -A 2.1601 2.4% 1.15% 1.86% 1.39% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2569 1.85% 0.39% 0.91% 2.15% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6038 1.05% -0.76% 0.32% 2.52% PHILAM BOND FUND, INC. -A 4.0316 1.71% -0.53% 0.82% 2.85% PHILEQUITY PESO BOND FUND, INC. -A

3.6101 3.26% 1.08% 1.21% 2.64% SOLDIVO BOND FUND, INC. -A 0.9187 1.19% -0.73% N.A. 2.92% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8852 4.77% 1.3% 1.83% 4.31% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5996 4.32% 0.75% 1.34% 3.88% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $454.56 2.9% 1.82% 2.85% 1.4% ALFM EURO BOND FUND, INC. -A Є216.08 1.45% 1.42% 1.57% 1.61% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1677 4.75% 1.7% 2.36% 3.72% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0253 2.02% 0.8% N.A. 2.02% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7133 0.23% -1.29% 0.86% 1.37% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0633 2.84% -0.58% -2.31% 2.48% PHILAM DOLLAR BOND FUND, INC. -A $2.2624 4.59% 0.47% 2.79% 4.2% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0582356 2.91% 1.18% 1.78% 2.2% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9763 2.35% -0.11% 2.07% 3.63% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.62 3.55% 2.23% 1.8% 1.47% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0093 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1974 2.83% 1.24% 0.79% 1.31% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2357 3.34% 2.51% 1.88% 1.37% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0242 2.09% N.A. N.A. 0.82%

* - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE.

**** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.).

***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018.

********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

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Thursday, May 2, 2019

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Money supply in slow growth of 4.2% in March

By Bianca Cuaresma

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@BcuaresmaBM

ONEY supply circulating in the economy reached P11.4 trillion by the end of the year’s first quarter, posting a slow growth from its level in the same period last year, the Bangko Sentral ng Pilipinas (BSP) reported.

Data from the BSP showed domestic liquidity—broadly measured as M3—grew by 4.2 percent in March this year, significantly slower than the 7.1-percent expansion rate in the previous month.

A growing cash supply is often beneficial for an expanding economy such as the Philippines, as it provides fuel to the productive sectors of the country.

However, an excessively slow growth in M3 could be detrimental to the country’s overall growth, especially if it is not enough to fuel the productive activities in the economy. An excessively high cash supply growth, meanwhile, could stoke inf lationary pres-

sures and pull prices upward for the economy.

An imbalanced growth of M3 is also an indicator that the economy is potentially overheating.

At this level, however, the BSP vowed to keep a close watch on domestic liquidity growth to ensure its appropriateness to the dynamics of the local economy. “ T he BSP w il l continue to closely monitor domestic liquidity dynamics to ensure that overall monetary conditions remain in line with maintaining price and financial stability,” the BSP said.

The expansion in money supply during the month largely came from demand for credit.

Chatbots for associations?

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HERE are all kinds of tasks that once were the domain of humans but can now be done by machines. Enter the chatbots!

According to Technopedia, a chatbot, also known as artificial conversational entity (ACE), chat robot, talk bot, chatterbot or chatterbox, is an artificial-intelligence (AI) program that simulates interactive human conversation by using key pre-calculated user phrases and auditory or textbased signals.

It said modern chatbots are frequently used in situations in which simple interactions with only a limited range of responses are needed. This includes customer service and marketing applications, where the chatbots can provide answers to questions on topics such as products, services or company policies. If a customer’s questions exceed the abilities of the chatbot, the customer is endorsed to a human operator.

Chatbots are often used online and in messaging apps, but are also now included in many operating systems as intelligent virtual assistants, such as Siri for Apple products and Cortana for Windows. Dedicated chatbot appliances are also becoming increasingly common, such as Amazon’s Alexa.

Tim Ebner, in an article entitled, “Chatbot at your Service,” published by the American Society of Association Executives (ASAE), wrote that most associations have yet to explore the potential of chatbots. That may soon change, says Arun Qamra, head of product for Radiance Labs, who has been studying the practical uses of chatbots since his days working for Google Research on machine learning initiatives.

“Chatbots come in many different ‘flavors.’ The sort of applications we’ve seen so far have included e-commerce and customer service applications, as well as internal employee-driven applications,” Qamra says. “Each one handles a simple task. These bots are only semi-intelligent and can, therefore, take on the load of humans, handing it off when real expertise is needed.”

Bot-plus-human teamwork can improve efficiency so it’s no longer necessary for, say, a member services coordinator to take a call from a member seeking basic renewal information. The coordi-

Association World Octavio Peralta nator can step in whenever a more complex interaction is needed.

The Philippine Retailers Association, at its National Retail Conference and Stores Asia Expo, put out the “NRCE Chatbot,” a robot version of its customer-service agent and virtual assistant. PRA came up with the chatbot to enhance its engagement with members by delivering fun and entertaining interactions. The chatbot has the ability to talk to millions of Facebook users in concurrent, personalized and real-time conversations.

Before the introducing the chatbot, most of PRA’s members were sending inquiries via fax and e-mail or communicate via phone.

With the chatbot, they can now access all the information they need that concerns an event (registration, program, speakers and their profiles, games, raffle, exhibition, etc.). The chatbot takes 35 percent of the workload from the secretariat as it serves as virtual assistant.

The tech world is “building out solutions to solve some very specific problems,” Qamra says. “An association CEO doesn’t necessarily need to know about the latest algorithms. What they need to know is all the tech companies that are building tools which might help them to problem solve.”

So, chatbots, anyone?

The contributor, Octavio “Bobby” Peralta, is concurrently the secretary general of the Association of Development Financing Institutions in Asia and the Pacific (Adfiap), founder and CEO of the Philippine Council of Associations and Association Executives (PCAAE), and president of the Asia-Pacific Federation of Association Organizations.

The purpose of PCA AE—the “association of associations”—is to advance the association-management profession and to make associations well-governed and sustainable. PCAAE enjoys the support of Adfiap, the Tourism Promotions Board (TPB) and the Philippine International Convention Center (PICC).

E-mail: obp@adfiap.org.

BusinessMirror FILE PHOTO

Parallel to the M3 slowdown, bank lending also grew at a slower rate of 9.9 percent in March, from 13.7 percent in February.

Data from the BSP show that loans for production activities— which comprise 89.5 percent of banks’ total loan portfolio—increased at a slower pace of 11.4 percent in March from 13.6 percent in the previous month.

The growth in production loans was driven primarily by increased lending to the following sectors: financial and insurance activities at 32.7 percent; wholesale and retail trade, repair of motor vehicles and motorcycles at 11.6 percent; realestate activities at 8.7 percent; manufacturing at 10.6 percent; construction at 41.7 percent; and, electricity, gas, steam and air-

conditioning supply at 9.4 percent.

Bank lending to other sectors also increased during the month except those in other community, social and personal activities which declined by 59.7 percent; professional, scientific and technical activities by 19 percent; mining and quarrying with a 3.3 percent decline; and, human health and social work activities by 0.2 percent.

Meanwhile, loans for household consumption also declined by 5.8 percent in March from a growth of 14.9 percent in February. The BSP attributed this to the deceleration in credit-card loans and contraction in motor vehicle loans, salary-based general purpose consumption loans and other types of household loans during the month.

Pagcor’s first-quarter gaming income rises 15.6% to ₧18.3B, exceeds target

By Rea Cu

@ReaCuBM

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H E Ph i l ip pi ne A mu s e ment and Gaming Corp.

(Pagcor) has reported a total income from gaming operations of P18.265 billion as of end-Ma rc h 2019, breac hing its first-quarter target of P16.588 billion.

In its latest statement of comprehensive income posted on its web site, the gaming regulator said its total income from gaming operations for the first quarter of 2019 was higher by 15.62 percent than the P15.798 billion in the same period for 2018.

For the period, gaming taxes and contributions made by Pagcor amounted to P9.589 billion, or an increase of 15.62 percent

from last year’s P8.294 billion.

Pagcor’s gaming ta xes and contributions include a 5-percent franchise tax and 50 percent of its gaming share, as well as dividends to the Dangerous Drugs Board of P15 million, as mandated under Republic Act 9165, or t he Comprehensive Dangerous Drugs Act.

Pagcor’s total income—when ga m i ng t a xes a nd cont r ibutions are netted out—amounted to P9.690 billion for the first quarter, a growth of 14.71 percent compared to last year’s P8.447 billion.

Meanwhile, its expenses for the three-month period amounted to P8.139 billion, or 15.76 percent higher than the P7.031 billion reported in the same period for 2018.

Expenses for the first quarter also breached the agency’s target for the period, P6.951 billion.

T h i s i nc ludes operat ion a l expenses, funding for cor porate social responsibility projects, as well as contributions to other agencies as mandated by special laws.

In the end, Pagcor reported a

net income of P1.550 billion for the first quarter of 2019, which is higher by 9.51 percent from last year’s P1.416 billion. This also breached the first-quarter target of P1.249 billion.

In January this year, the Department of Finance Corporate Affairs Group reported collections of a total of P40.17 billion from gover nment-ow ned and -controlled corporations for remittance to the Bureau of the Treasury.

This represented a 32-percent jump from the P30.46 billion collected in 2017.

Among those which remitted dividends to the government was Pagcor, which was included among the top dividend contributors in 2018, with remittances of P2.593 billion.

China bares plans to further open up banking and insurance sectors

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HINA took another step in opening its $44-trillion financial sector to the world, announcing plans to remove limits on ownership in local banks and scrap size requirements for foreign firms that operate onshore.

Among the changes, overseas insurance groups will be allowed to set up units in the world ’s second-big gest economy, t he China Banking and Insurance Regulator said on Wednesday as high-level trade talks between China and the US got under way in Beijing.

The new rules open the door for full-blown local bank takeovers, giving overseas lenders a potential shortcut to expanding in a market where they currently account for less than 2 percent of assets.

The changes build on steps leaders have taken in the past 18 months to level the playing field in China’s financial industry, as they came under increasing pressure from US President Donald Trump’s administration.

“China is delivering on promises made to further open the financial markets to foreign companies, both big and small,” said Liao Chenkai, a Shanghai-based analyst at Capital Securities Corp.

“This may also be a possible response to the trade war with the US, pushing China to further open its markets.”

HSBC Hold i ngs Plc. hold s shares in Bank of Communications Co., and while the London-based firm hasn’t recently commented on increasing that ownership, Bocom’s board secret a r y sa id l ast yea r t hat it would be open to such a move.

Wall Street titans from Morgan Stanley to UBS Group AG operate securities joint ventures in China, and have seized on the financial opening to seek greater stakes in the units.

Policy-makers in Beijing have repeatedly stressed their determination to further integrate China into the global economy and boost the inflow of overseas investment.

Fresh funds would provide timely support for a banking industry under pressure from a slowing economy and rising bad loans. International firms, meanwhile, are seeing an opportunity to fully compete for locals business after two decades spent mostly on the sidelines.

Key changes:

n Remove asset requirements for foreign banks wanting to set

up branches and those wanting to be locally incorporated in China.

The thresholds were previously $20 billion and $10 billion, respectively. n A llow overseas financial institutions to invest in foreign insurers in China. n Remove limit that foreign insurance brokerage companies must have more than 30 years of operating experience and assets of more than $200 million to carry out related business in China. n Relax requirements for both foreign and Chinese companies to invest in and set up consumer finance companies.

T he C BI RC i n Au g u st re moved some limits on foreign ownership of Chinese lenders and bad-debt managers, following through on a pledge made in late 2017 to amend rules and welcome global players.

The latest changes scrap all ownership restrictions, though the regulator will still have to approve deals.

Following the previous rounds of easing, ING Groep NV became the first foreign firm announcing plans to take a 51-percent stake in an onshore retail-banking venture under China’s new ownership regulations.

The Dutch firm is also the larg-

est shareholder in Bank of Beijing Co., with a 13-percent stake.

It hasn’t publicly declared any interest to raise that holding.

“This time it’s not just about opening the door wider to the biggest global firms, but also to smaller and niche players,” said Dong Ximiao, deputy dean of C hon g y a n g I n s t it ute for Financia l Stud ies at Renmin Universit y in Beijing. “China is going to to see a full blossoming of players and embrace more competition.”

The pace of opening has received some criticism from foreign CEOs. Oliver Baete, chief executive officer of Allianz SE, the first overseas company to win approval to set up an insurance holding unit in China, said last month that the country must speed up the process of allowing foreign firms to open local branches.

Despite the potential on offer, international companies will face challenges as they try to establish themselves in China.

T he main competition comes f rom gover n ment - cont rol led r iva ls t hat dom inate t he f inancial system and have longstanding relationships with the state-ow ned enter pr ises that drive much of China’s economic activity. Bloomberg News

B4 Thursday, May 2, 2019

LUNG HIN PRESENTS 19 AUTHENTIC DIM SUM DISHES

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OMMITED to deliver authentic Cantonese flavor, Lung Hin proudly presents 19 premium dim sum dishes showcasing tradition and culinary expertise. These special dishes will bring each guest on a trip to the orient with every bite, especially with the restaurant offering these delights at 25-percent savings until the May 31.

Whether steamed or fried, dim sum brings delicious comfort for even the most discerning palates.

This season indulge in steamed selections as scallop, kimchi and shrimp, pork siu mai with truffle sauce, and vegetarian dumplings. Deep-fried bean-curd skin rolls with prawn, taro puffs and pan-fried radish cake with XO sauce are also featured in the pan-fried and deep-fried menu.

These unlimited orders of dim sum come with choices from appetizers, Hong Kong barbecue, soup and dessert. A special menu for the main course is also included in this package.

Lung Hin is on the 44th-floor level of Marco Polo Ortigas. For more information about, visit www. marcopolohotels.com.

VOTERS SHALL CHOOSE CANDIDATES WITH BUSINESS SOLUTIONS—THINK TANK

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LET YOUR BRANDS SHINE AT THIS YEAR’S PANATA AWARDS

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OW on its 11th year of championing brand building and honoring brilliance of the people and organizations behind the industry’s most successful and exemplary brand-strengthening campaigns engaging consumers and add value to their lives, the Panata Awards continues its search for gamechangers to be named as Brand Builder champions.

With bigger, more successful and more innovative campaigns launched last year, the apparent growth of new brands entering the market vying for the Panata Awards 2019 is expected to stir excitement and grit to win the Panata recognition. Each winner will receive the Panata trophy whose design is a representation of Brand Builders’ legacy and relevance to the industry.

Each corner and every side possesses a great meaning where words exemplify Panata’s values, ethics and principles; and the colors signify the diverse personalities of the brand builders that bring to life extraordinary and novel works.

Panata Awards chairman Jake Lugay articulates that, “The PANAta is a league of its own. With its refreshed identity, it differs from other award-giving bodies in the marketing and advertising industries because this is about you, the people behind the thriving campaigns. It places high regard not solely on the masterpiece, but to the masters behind these creations who are advocates of truth in advertising and who unceasingly elevate industry standard to a higher level.”

Join the ranks of Panata’s Brand Builder champions!

Let your creativity and brand result speak for you, and make your mark in the following categories: Excellence in Marketing Innovation (brand executions that have

incorporated new marketing styles or ridden in current trends to achieve respective objectives), Excellence in Brand CSR (brand campaigns whose objective is to give back to the community or country), Excellence in Brand Positioning (brand executions that clearly showcase the brand strength and solidify brand personality within the competing market), Excellence in Customer Empowerment (brand campaigns that aim to inspire consumers, empower minorities and bind the brand promise to social issues), Excellence in Internal Communications (communications to employees or business or trade partners) and Brand Rookie of the Year (new brands that have entered the market in the past year and shown success in its launch based on criteria given).

Submission of entries through is until May 3. For inquiries, e-mail at alucero@pana.com.ph.

PR I VATE think tank asked Fi l ipi no voters to c hoose senatorial and local candidates who have balanced solutions for workers and businesses that will generate more jobs and lift more Filipinos out of poverty.

“Voters should ask senatorial and local candidates what they will do to generate jobs and increase the income of workers. They should have balanced solutions that will go beyond myopic political terms,” Albert del Rosario Institute for Strategic and International Studies (ADRi) President Dindo Manhit said in a recent roundtable discussion.

The ADRi held a forum on labor productivity and wage-stagnation paradox at the Tower Club in Makati City on April 5. The forum was led by ADRi nonresident fellow Dr. Vicente Paqueo and Phi lippine Institute for Development Stud ies (PIDS) research fellow Dr. Michael Abrigo, who presented a paper on the topic.

Manhit said that, for the poorest and most vulnerable Filipinos, employment and wages represent critical factors in poverty reduction. The challenge for politicians, he said, is how to promote increasing income while generating jobs and maintaining economic growth.

“This will need a shifting to a more strategic mindset that focuses on long-term competitiveness and sustainability, instead of myopic political cycles,” he said.

Pacqueo and Abrigo presented a paper that looked at labor productivity and the so-called wage-stagnation paradox, and highlighted the importance of raising productivity growth and opportunities through factors, such as technological catchup, building of complementary capabilities and instituting policy reforms.

Pacqueo said wage stagnation is a misleading paradox because it

does not reflect nonwage benefits.

He disputed wage stagnation as an indicator of worker ex ploitation from a macrolevel point of view “due to factors, such as compensation schemes, acquisition of advanced technology and [that] wages don’t take into consideration the labor output.”

He cited the need to increase capital to raise compensation, while pointing out that the government should temper down on “unrealistic regulatory mandates” that would not have sustainable and positive long-term impact on labor and productivity.

This was supported by Employers Confederation of the Philippines (Ecop) director general Jose Roland Moya, who said that the factors leading to disparity between labor productivity and real wages “do not consider business realities and capabilities,” especially in relation to technological advancement, changing consumer preferences and the changing minimum wage.

Moya said small and medium enterprises (SMEs), which comprise the majority of local businesses, bear the brunt of these factors compromising their expansion plans, technology acqu i sit ion t a rget s a nd overa l l innovation strategy.

Ecop Governor Rene Almeda cited, for example, his company’s approach to boost labor productivity in relation to the findings of the paper. He said Yazaki-Torres Manufacturing Inc. makes use of a two-tiered wage system: Setting a minimum wage higher than the poverty threshold and setting voluntary productivity incentives and bonuses based on mutual agreements.

The incentive scheme provides for a performance-based incentive pay, productivity incentives and a special bonus based on the profitability target for the year.

Foundation for Economic Freedom President Toti Chikiamco said the onus of increasing productivity is on [the] government. “If the government really has a heart for the labor sector, they should focus on productivity.

Productivity allows [businesses] to grow bigger and enable employers to share productivity gains [to] their employees,” Chikiamco said.

Chikiamco added that his own company has a “personalized” incentive and compensation scheme. Aided by technology, it gathers data to set productivity objects according to the employee’s nature of work, capabilities and experience.

He said any mandated policies that have no productivity direction will not make the country more globally competitive. As such, he stressed the need for greater foreign-investment liberalization to increase competition in the local market and, at the same time, facilitate technology transfer.

Makati Business Club executive d i re c tor Co co A lc u a z s a id t he Philippines has a lot of catching up to do in terms of science and technology in the industry. Forcing technological innovation to a labor force not trained for it might take 20 to 30 years, he said.

A lcuaz said what can be done is improving the skill-set level of the labor force. Key in this regard will be improving education and training, b o o s t i n g m a r k e t c o m p e t it i o n , protecting job-generation investments with smart incentives and establishing a flexible labor market by focusing on quality jobs.

Pacqueo, in conclusion, said that “the name of the game is sustainability,” meaning “we should not rock the boat too hard on the positive growth of the economy with uncertainties, and this includes legislation and agreements.”

FANS SHOW BRAND AFFECTION IN ‘I LOVE ISUZU’ CAMPAIGN LAUNCH

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T was the kind of warm reception that could outshine the hottest of summers.

On April 25 hundreds of Isuzu vehicle owners and their families — all loyal fans of the world-renowned maker of diesel-powered vehicles— gathered to witness the launch of the first I Love Isuzu campaign at the Carousel Court, on the upperground f loor of Festival Supermall in Alabang.

T he launch has been the culminating event and collaboration among Isuzu Philippines Corp. (IPC) and its dealers, business partners, suppliers and various Isuzu clubs across the country.

IPC President Hajime Koso said in his welcome remarks: “Isuzu vehicles are really something to take pride on. Let me tell you that we are more than just a truck brand. Our pickup and SUV models deliver the same outstanding per for mance coming from our expertise on diesel engines.

He added: “ T he D-Max has been with u s for more t h a n a decade, a nd it has proven durability and f ue l - e f f ic ie nc y o v e r and over again. The muX, captivated the hearts of Fi l ipino fa m i l ies, re ac h i ng more t h a n 45,000 units since its launch in 2014.

The impressive design of these models, coupled with comfort, convenience and, most special, global safety stand ards, is what makes our customers love it even more.”

The I Love Isuzu campaign has hinged on not just Isuzu vehicles’ exceptional durability, reliability, p o w e r, p e r f o r m a n c e a n d f u e l efficiency, but also on the entire motor ing-lifest yle ex per ience of their owners, and their families and friends—the kind of lifestyle that have evolved into fond memories throughout the decades.

A fter the 4 p.m. opening ceremonies, the affair was opened to the public, w ith free admission to va r ious e xc it ing act iv it ies, such as displays of the Isuzu mu-X S U V a nd I s u z u D - M a x p i c k u p, and a specia l per for mance from Mor issette A mon.

The guests and mall-goers were also treated to the premier of the I Love Isuzu AVP, as well as the launch of the “My Isuzu Story” videos depict ing hear tfelt test imonia ls

from Isuzu customers.

Various Isuzu clubs, such as the mu-X Owners Club of the Philippines, Team Isuzu Pilipinas and Team Isuzu Car Enthusiasts, also held their club meet and new member signups at the launch.

Special promos and discounts on selected Isuzu models were also offered, and free public test-drives were also conducted, apart from the mini games wherein participants won premium Isuzu items.

The I Love Isuzu mall display, test-drives, special discounts and mini games continue daily up to April 28, from 10 a.m. to 9 p.m.

The I Love Isuzu campaign aims to encourage Isuzu customers to actively promote and share their experiences of the Isuzu brand, and to ultimately grow the community of Isuzu owners in the Philippines.

DURANT, WARRIORS DO MEAN BUSINESS Durant scored 29 points and established an early defensive tone against Harden, leading the Warriors past the Rockets, 115-109, on Tuesday night as the focus refreshingly returned to basketball after two days of constant chatter about the officiating.

By Janie Mccauley The Associated Press

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AKLAND, California—Kevin Durant and the Golden State Warriors brought it on both ends, kept their mouths shut and handled business at home against James Harden and the Rockets.

Now, the two-time defending champions are headed to Houston with a 2-0 lead in the Western Conference semifinal.

Durant scored 29 points and established an early defensive tone against Harden, leading the Warriors past the Rockets, 115109, on Tuesday night as the focus refreshingly returned to basketball after two days of constant chatter about the officiating.

“Tonight I think it was a great officiated game,” Golden State’s Draymond Green said.

“They let us be physical, both teams, and they made the calls they needed to make. It was kind of disheartening for a game that I love since I was a child to see the talk over the last two days was nothing about basketball and everything about foul calls. Is that what this game is coming to?”

Harden got hit in both eyes early but was able to return and finished with 29 points and seven rebounds “I barely could see,” said Harden, who was treated with eye drops.

Boos regularly greeted both Harden and Chris Paul at deafening Oracle Arena, where the Rockets complained after a 104-100 Game One defeat that the officials missed foul calls when the Warriors closed out on Houston’s three-point shooters.

Paul celebrated and cheered when Harden drew a foul on Durant in the closing seconds of the third on a very such play. Harden converted three free throws to pull Houston within 82-75 going into the final 12 minutes.

Harden scored seven straight Houston points during one stretch midway through the fourth, including a three at 7:25 that go the Rockets

Sports BusinessMirror

THE Bucks’s Giannis Antetokounmpo tries to drive past the Celtics’ Al Horford. AP

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| Thursday, May 2, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

with it taped.

Curry missed his first four three-point tries before hitting late in the first and played in foul trouble once more. He picked up his fourth with 6:43 in the third on a reach in, something he’s been working to stop doing.

Harden injured his eyes with 6:39 left in the first, grabbing at his face after he and Green fought for a loose rebound and Green’s left hand got Harden in the face.

When Harden went to the locker room with 6:27 left and a towel over his left eye for a cut, Green patted him on the back and checked to make sure he was OK. Harden returned at the 7:09 mark of the second.

“That’s him. I didn’t have a doubt he was coming bac k unless it was something catastrophic,” Coach Mike D’Antoni said.

Both teams were more composed when it came to mouthing off at the referees.

Harden already had a history with official Scott Foster, who worked Tuesday’s game. The reigning MVP was fined $25,000 for calling Foster “rude and arrogant” following a 121111 loss at the Lakers on February 21 in which Harden fouled out.

In Game One, Paul was automatically ejected with 4.4 seconds left following a second technical and fined $35,000 by the National Basketball Association (NBA) on Monday for making contact with official Josh Tiven.

D’Antoni emphasized the scrutiny of officials “shouldn’t continue.”

Durant’s run of five straight performances scoring at least 30 points was snapped. With 201 points over his previous five games, he became the fourth player in NBA history to score 200 or more in such a span—joining LeBron James, Allen Iverson and Michael Jordan.

BUCKS FIGHT BACK IN GAME 2

THE Warriors’ Kevin Durant tries to elude the Rockets’ Eric Gordon during the first half of Game Two on Tuesday. AP

Harden plays with blurred vision and stinging eyes O AKLAND, California— James Harden’s eyes were still red and stinging well after the final buzzer.

He could barely see on the court let alone read the box score after the game.

The reigning Most Valuable Player hopes he will feel better with a few days off before the Rockets’ Western Conference semifinal series against Golden State resumes on Saturday in Houston with his team trailing 2-0 following a 115-109 loss on Tuesday night in Game Two. Harden scored 29 points on nine-for-19 shooting to go with seven rebounds, four assists and six turnovers. Eye drops he received only helped so much to relieve the discomfort.

He injured his eyes with 6:39 left in the first quarter, grabbing at his face after he and Green fought for a loose rebound and Green’s left hand got Harden in the face.

“I can barely see. Just tried to go out there and do what I can to help my teammates,” Harden said. “It’s pretty blurry right now.

Hopefully it gets better day by day.”

When Harden went to the locker room with 6:27 remaining and a towel over his left eye for a cut, Green patted him on the back and checked to make sure he was OK. Harden returned at the 7:09 mark of the second.

“We were fighting for a

within 92-89. Stephen Curry connected for a key three at the 6:31 mark on the way to 20 points.

Harden’s eyes were still red and bothering him postgame.

“It’s pretty blurry right now. Hopefully it gets better day by day,” Harden said.

Klay Thompson scored 21 points and hit consecutive 3-pointers late in the third. Green had 15 points, 12 rebounds—three on the offensive end over two possessions in the opening quarter—and seven assists.

Game Three is on Saturday in Houston.

Players on both sides stayed poised with cool heads.

“I felt like both teams, both coaches, just let the refs do their jobs all night,” Durant said.

“I think the refs did an amazing job, the players did a great job, and the coaches.”

Durant set a tone when took an early charge from Harden and blocked one of his shots as Houston committed five quick turnovers that led to 10 points. Andre Iguodala, who also handled much of the load defending Harden, added 16 points, five rebounds and four assists.

Curry dislocated his left middle finger in the first quarter but x-rays were negative and he returned

JAMES HARDEN injures his eyes with 6:39 left in the first quarter, grabbing at his face after he and Green fought for a loose rebound and Green’s left hand got Harden in the face. AP

rebound. I made a mistake and hit him in his eye,” Green said.

“It’s not about hurting anybody out here. So many times people forget, when a guy has an injury, you live with that every day, every second of every day. It’s not just about this game. If his eye is messed up, he’s got to live that every day. Just want to check on the guy. At the end of the day it’s bigger than basketball when it

comes to injuries.”

Harden scored seven straight Houston points during one stretch midway through the fourth, including a three at 7:25 that got the Rockets within 92-89. Stephen Curry then connected for a key three at the 6:31 mark.

As good as he still was, Harden didn’t seem completely comfortable.

“He fought through some stuff.

The guy looked like he was not in great shape the first half, I think it might have cleared up a little bit,” Coach Mike D’Antoni said.

“But he got raked pretty good in the eyes. But that’s him. I didn’t have a doubt he was coming back unless it was something catastrophic. I’m sure he would have loved to have played better.

Under the circumstances, I thought he played great.” AP

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ILWAUKEE— Giannis Antetokounmpo attacked the rim, Khris Middleton connected from long range and Eric Bledsoe turned in an effective performance.

The Milwaukee Bucks looked more like themselves in Game Two. Antetokounmpo had 29 points and 10 rebounds and Middleton made seven of Milwaukee’s franchise playoff-high 20 threepointers, helping the Bucks even their second-round playoff series against the Boston Celtics with a 123-102 victory on Tuesday night.

Antetokounmpo, one of the top candidates for National Basketball Association Most Valuable Player, went seven for 16 from the floor, and 13 of 18 at the foul line. It was an important turnaround for Milwaukee after he had 22 points on seven-for-21 shooting in Game One on Sunday.

Middleton finished with 28 points. Bledsoe, who was held to six points in the series opener, finished with 21 points and five assists.

The Bucks led by as many as 31 points after a closely played opening half. Game Three of the Eastern Conference semifinal series is on Friday night in Boston.

“I think that’s more what we’re accustomed to seeing,” Bucks Coach Mike Budenholzer said. “I liked our spirit, our activity, our competitiveness all up and down the roster. Giannis and Khris and Bled really set a tone.

“We need to capture that, take it to Boston with us and play that way up there.”

Marcus Morris paced Boston with 17 points. Jaylen Brown had 16, and Al Horford finished with 15.

Kyrie Irving, who had 26 points and 11 assists in the Celtics’ 112-90 victory in Game One, had nine points on four-of-18 shooting.

“We weren’t very good on either end,” Coach Brad Stevens said.

Milwaukee broke it open by outscoring Boston 39-18 in the third quarter. Antetokounmpo scored 15 points in the period, including a 3-pointer over Horford to give the Bucks an 81-71 lead with 5:33 left.

Antetokounmpo tipped in his own miss and made another three to help Milwaukee pull away. The Bucks went on a 24-2 run to carry a 98-73 lead into the fourth.

“I think in Game One I didn’t do a good job finding my teammates,” Antetokounmpo said. “So of course I wanted to be aggressive, but then you’ve got to make the right plays.

At the start of the game tonight, the right play was the pass.”

Irving credited the Bucks’ defensive plan.

“They did a great job of switching tonight and forcing me left,” Irving said. “I started the game off well getting downhill and setting an example for my teammates of how we want to play. I just didn’t put my stamp on that.”

Brook Lopez and George Hill each finished with 10 points for Milwaukee, which went 20 for 47 from beyond the arc.

Pat Connaughton grabbed 11 rebounds to help the Bucks to a 54-45 advantage on the glass.

Milwaukee switched on screens more often than usual and held Boston to 39.5 percent shooting (34 of 86).

“That’s an easy thing for them to adjust to and I thought they did a very good job of it,” Stevens said.

“Basically, Giannis and smaller were doing that and they kept Lopez as a protector. They have a lot of defensive versatility. Everybody knew Game One was not going to repeat itself.

“They did a good job of owning the space on both ends of the court.”

Middleton went seven for 10 from deep. He also grabbed seven rebounds. AP

Spo

Business

C2 Thursday, May 2, 2019

LAWSUIT CLAIMS U.S. OLYMPIC BODY LIED T

HE Philadelphia Indemnity Insurance Company has filed a lawsuit against the United States Olympic Committee (USOC), claiming its leaders falsely said they had received no sexual-assault claims when in fact the problem had been prevalent for decades and included a large number of victims.

As reported by The Denver Post, the lawsuit was filed by Denver Attorney L. Kathleen Chaney in the US District Court in Denver.

It details numerous examples of sexualassault allegations dating back to at least 2010 to make its case.

The lawsuit cites a report by the US Senate’s Energy and Commerce Committee that stated sexual abuse had been happening within the Olympic community for three decades.

The report also said the USOC had

determined in 2010 that “the issue of sexual abuse is very real in sport and that a call to action is needed.”

Philadelphia Indemnity Insurance Co. wants a judge to determine that it is not accountable for multiple lawsuits filed in recent years against the USOC. This includes those that have come in the wake of the sexual-abuse scandal surrounding former USA Gymnastics team doctor Larry Nassar.

More than $75,000 is also being sought in damages by Philadelphia Indemnity Insurance Co. According to the lawsuit, the USOC applied for the insurance in 2015, filing applications for two sexual or physical abuse liability cover policies with limits of $2 million and $10 million.

The USOC denied it had ever had an

allegation or claim of sexual abuse when filling out its applications for insurance cover, and claimed an insurer had never denied it cover.

The policy was signed by the USOC’s director of risk management Eric Marsh on March 11, 2015.

Last month, it was reported that a group of 51 women were suing the USOC for failing to prevent sexual abuse carried out by Nassar.

The Denver Post stated a 134-page lawsuit had been filed on March 12 in Colorado, where the USOC is based, asking for an “unspecified amount” in damages.

The claimants are also demanding reform and accountability at the USOC to protect athletes in the future, alleging they could have prevented the abuse of young female athletes, but instead actively tried to conceal the case and were negligent with

reports and investigations.

It continues to assert, The Denver Post says, that even today the USOC’s directors are not taking proper measures against employees or representatives who are accused of sexual abuse.

Nassar is serving up to 175 years in prison having been found guilty of sexually abusing dozens of young American gymnasts under the guise of medical treatment.

An independent report published in December by law firm Ropes & Gray claimed both the USOC and USA Gymnastics had facilitated Nassar’s abuse and had failed to act when allegations against him first emerged.

The majority of the claimants in the case, which covers abuse from the 1990s to 2018, were children at the time of the abuse.

Insidethegames

Barça manages Messi’s time ahead of Champions League

M

ADRID—For the biggest moments, there is always Lionel Messi.

The 31-year-old Argentine has been the key to Barcelona’s success ever since he made his debut, but more and more this season he has been rested.

Wednesday won’t be one of those days, as Barcelona faces Liverpool in the first leg of the Champions League semifinals.

“I’ve rested Messi more than usual but this has been a month with two Champions League clashes, and twice we had to play three games in a week,” Barcelona Coach Ernesto Valverde said on Tuesday. “We wanted to clinch the Spanish league title, but at the same time we also wanted to make sure he was prepared for this tie. I think I’ve probably got the balance right.”

A few days ago, Messi won the Spanish league trophy for the 10th time in his 15 seasons with the Catalan club. He scored the decisive goal—yet another one—that allowed the team to clinch its eighth league title in 11 seasons.

He has also helped the team advance to a fifth straight Copa del Rey final, and reach the Champions League semifinals for the first time in four seasons.

“Messi is the centerpiece of our success,” Valverde said after Barcelona won the league.

“Obviously, since he arrived the club has won numerous titles. If there’s a player above everyone else, it’s him. He sets our style and his level of competitiveness improves everyone.”

Barcelona knows it will need the best of

Messi when it plays Liverpool at the Camp Nou, so the team has worked as hard as ever to manage his playing time and make sure he will be in top form at the Camp Nou. Valverde has been using Messi only at key moments in recent games, saving him for the decisive stages of the Champions League— which the club has not won since 2015. Barcelona was eliminated in the quarterfinals of the European competition the last three seasons.

Valverde has often left Messi on the bench in recent Spanish league matches, sending him on if the team was struggling. That was the case last weekend in a match against Levante, which Barcelona needed to win to secure the league title. Messi came off the bench at halftime and scored the winning goal in the 62nd minute.

Messi also didn’t start in the previous league match, against Alaves, entering the game with about 30 minutes left to help the team hold on to a 2-0 win.

The Argentina forward historically got little rest time in his career with Barcelona, being one of the players with the most minutes nearly every season. He hasn’t missed a lot of time because of injuries, with his latest long-term absence coming last year when he was sidelined for about three weeks because of a broken forearm.

Valverde started managing Messi’s playing time more aggressively this season as the team reached the final stretch. Messi had been playing nonstop as Barcelona played a difficult period that included games against Real Madrid and French club Lyon in the last

16 of the Champions League. Valverde then sat him for a league match at Villarreal, using him off the bench midway through the second half and seeing him help the team erase a late two-goal deficit in a 4-4 draw.

Messi played two consecutive decisive matches after that, against Atletico Madrid in the league and Manchester United in the first leg of the Champions League quarterfinals, but then didn’t make the squad for the 0-0 draw at last-place Huesca.

Liverpool Coach Juergen Klopp said he knows what to expect from Messi.

“Out of the players I’ve seen, I’d say that Messi is No. 1,” Klopp said. “I’ve coached a few good players. My father always said Pelé, but I was too young to watch him live.”

Klopp also said Barcelona has plenty of quality aside from Messi, and that he wouldn’t mind leaving Camp Nou with a point.

“A draw would not be the worst result in the world tomorrow,” he said. “So many people came to play Barcelona and had a plan, and then they got a proper knock.” AP

T

stored there for a minimum of two years in case new evidence appears.

Regardless, the gathering of the samples is a success for Wada, which was heavily criticized for its decision to reinstate Russia’s anti-doping agency before receiving the data and samples, as had been a precondition of reinstatement. Instead,

E

DWARD NYMAN’S appointment as the first full-time director of sports medicine and science at USA Gymnastics lasted just one day.

The embattled organization announced it had removed Nyman on Tuesday, barely 24 hours after naming him to the position. USA Gymnastics cited an unspecified conflict of interest as its reason for reopening the job.

“We will immediately renew our search to identify a qualified individual to lead our sports medicine and research efforts,” the organization said in a statement.

Nyman came to USA Gymnastics with a lengthy history in the sport. He was a competitive gymnast from 1987-93, spent time as a coach—including a stop at the University of Pittsburgh as an assistant with the women’s program—before eventually getting a doctorate in biomechanics at the University of Toledo.

The director of sports medicine and science at USA

LIONEL MESSI is the centerpiece of Barcelona’s success. AP

Wada gathers 2,200 samples from Russian lab HE World Anti-Doping Agency (Wada) said it has gathered more than 2,200 samples from a Russian laboratory that can be used to potentially corroborate doping positives uncovered by an investigation into a massive governmentdirected program designed to win Olympic medals.

Obtaining the samples, along with data still being analyzed by Wada scientists, was a key goal for the agency as it tries to proceed with hundreds of cases from earlier in the decade.

Wada announced on Tuesday that it had retrieved 2,262 samples, split them into “A’’ and “B’’ collection bottles and shipped them to a lab outside of Russia for testing.

Once the samples and underlying data behind them have been analyzed, Wada is expected to turn over evidence to international sports federations and national anti-doping agencies, which can bring forward cases.

If those organizations don’t act on cases, Wada has the right to bring them to the Swissbased Court of Arbitration for Sport.

Wada’s director of intelligence and investigations, Gunter Younger, said his five-person team “decided to take any and all samples that corresponded to data...that was even remotely [suspicious], even where an anti-doping rule violation [ADRV] was not suspected.”

Unknown is what percentage of cases the 2,262 samples represent; Wada has not provided that figure. But other samples that are not being removed from the lab will be

USA Gymnastics names, fires medical director all in one day

CC Sabathia could finally celebrate a milestone only 16 other players in 143 years of major league baseball had accomplished. AP

Wada said the data had to be handed over

by December 31, 2018, and the samples made available by June 30, 2019. Russia missed the first deadline by two weeks but did allow access to the data.

Younger’s team is expected to present an update to the Wada board at its meeting on May 16. AP

Gymnastics will take on various roles within the organization, including overseeing and managing the team’s medical staff—from physicians to athletic trainers and physical therapists—ensuring all medical and training personnel comply with athlete safety policies and procedures and communicating with the US Olympic Committee and the US Anti-Doping Agency.

The director will not directly treat male or female athletes across the five disciplines at USA Gymnastics: artistic and rhythmic gymnastics, trampoline and tumbling and acrobatic. It’s an important distinction for an organization still dealing with the fallout from the Larry Nassar scandal.

The former team doctor at both USA Gymnastics and Michigan State University is serving decades in prison for molesting girls and young women, including dozens of elite gymnasts.

Still, Nyman’s appointment seemed to catch some in the gymnastics community off guard.

Olympic champion Simone Biles, who came forward publicly in January 2018 to say she was one of Nassar’s victims, tweeted ”I’m sorry....what” after Nyman’s hiring was announced.

USA Gymnastics said in a statement to The Associated Press later on Tuesday “the decision to terminate Dr. Nyman’s employment was not based on any comments made on social-media platforms or anywhere else. In accordance with our employment policies, we cannot comment further on this personnel matter.”

Nyman served as the chairman of the Department of Health and Human Performance in the College of Health Professions at the University of Findlay (Ohio) and was a tenured assistant professor of biomechanics and athletic training and developed the Exercise Performance and Rehabilitation Technology Laboratory.

USA Gymnastics President Li Li Leung called Nyman “uniquely qualified for this role” when his appointment was announced on Monday.

“My goal is to strengthen and grow the trust of the greater gymnastics community through transparency and open communication with all stakeholders,” Nyman said.

Now he won’t get the chance. At least not at USA Gymnastics.

Nyman’s very short stint with the organization is the latest in a series of high-profile missteps that have one of the US Olympic movement’s marquee programs reeling just 15 months before the start of the 2020 Tokyo Games.

Former US Rep. Mary Bono lasted less than a week as interim president and CEO last fall following backlash for a social-media post that took aim at former National Football League quarterback Colin Kaepernick. AP

3,000 CAREER STRIKEOUTS!

P VERDICT DAY FOR SEMENYA

South Africa’s Caster Semenya competes alongside Britain’s Lynsey Sharp, United States’s Charlene Lipsey and Switzerland’s Selina Büchel in the women’s 800m semifinal during the World Athletics Championships in London in August 2017.

Semenya will find out on Wednesday if she has won her appeal against the International Alliance of Athletics Federations rules to curb female runners’ high natural levels of testosterone. AP

HOENIX—CC Sabathia struck out a former teammate for No. 3,000 of his career, celebrated with the rest of the New York Yankees on the field and tipped his cap to the appreciative Arizona crowd.

As the big left-hander walked toward the batter’s box, he looked up to see Carter Sabathia waiting in the front row. The father slid his massive frame through the netting and gave his youngest son a huge hug, followed by embraces with the rest of his family.

After months of anticipation and three starts with his family in tow, Sabathia could finally celebrate a milestone only 16 other players in 143 years of major league baseball had accomplished.

“It’s been a fun time these past couple weeks, these guys following around with me,” Sabathia said on Tuesday night after becoming the 17th player in major league history and third left-hander to reach 3,000 career strikeouts. “It’s a special time.”

The Yankees lost the game, 3-1, to the Diamondbacks, thanks to a sterling performance

by Arizona’s own ace Zack Greinke.

The night still belonged to Sabathia, the affable ace who can still dominate at 38.

Sabathia (1-1) arrived in the desert needing three strikeouts to hit 3,000 and got them all in the third inning.

The milestone whiff came when John Ryan Murphy, his former batterymate in New York, swung through a changeup, sending the Yankees

spontaneously pouring out of the dugout. The crowd roared and continued cheering until Sabathia tipped his cap before hugging his kids.

“It’s disappointing to lose, but tonight’s about celebrating the man in what’s been an amazing career,” Yankees Manager Aaron Boone said. “To be a part of it was special.”

Playing his final season, Sabathia became the first pitcher to reach 3,000 strikeouts since Atlanta’s John Smoltz in 2008, and joined Randy Johnson and Steve Carlton as the only lefties to do it.

Wilmer Flores hit a solo homer and a runscoring single off Sabathia. He allowed two runs and five hits, and struck out five before being lifted with two on and one out in the sixth inning.

“I was a baseball fan tonight,” Diamondbacks Manager Torey Lovullo said. “What he did is a pretty amazing accomplishment.”

Greinke (5-1) won his fifth straight game and stretched his scoreless innings streak to 18 before Gleyher Torres’s run-scoring double in the fourth inning.

Greinke allowed one run and five hits in 7 2/3 innings. He struck out seven and has 2,481 in his career to move past Jack Morris (2,478) for 38th all-time.

“It was cool, nice facing him,” Greinke said of Sabathia. “Always like seeing what some guys have and what makes them good.”

Greg Holland worked a perfect ninth for his sixth save in six chances. AP

orts

sMirror

Thursday, May 2, 2019 C3

17 GOLDS FOR PHL SWIMMERS

I

VO NIKOLAI ENOT captured his third gold medal to cap the Philippines’s campaign in swimming in the Arafura Games on Tuesday night at the Parap Swimming Pool in Darwin, Australia.

The 13-year-old Davao City pride Enot won the men’s 13 to 14 years old 50-meter backstroke in 29.80 seconds to add to his 100-meter and 200-meter backstroke gold medals in the campaign supported by the Philippine Sports Commission and Standard Insurance.

Samuel Alcos, 21, also ruled the men’s 17 over 100-meter breaststroke in 1:05.63

SOCCSKSARGEN’S John Mark Dalagan (No. 9, white) challenges Central Luzon’s Al Nazer Aguell (No. 9, red) while Norwally Salibo (No.1, white) and Moises Christian Macaspac (No.3, red) also mix it up in sepak takraw boys secondary action on Wednesday. NONOY LACZA

NCR MAKES MOVE

By Ramon Rafael Bonilla

D

AVAO CITY—Records fell in swimming and athletics and so did a heavy downpour that dampened the third day of action in the Palarong Pambansa.

National Capital Region (NCR) showed who’s boss in medal-rich swimming to distance itself from Western Visayas and the rest of the field midway through the multisport competition organized by the Department of Education and supported by the Philippine Sports Commission.

Xiandi Chua won two gold medals in record times for NCR, which scooped 13 victories at the Davao City-University of the Philippines aquatics center.

Just before the rain provided relief to the relentless summer heat, Chua, a high-school

Repaja wins in Liloy meet

A

NGEL REPAJA scored an expected romp in her age bracket then pulled off a surprise in the premier division as she shared the spotlight with young Pete Bandala in the Palawan PawnshopPalawan Express Pera Padala (PPS-PEPP) Liloy national age-group tennis at the Liloy Tennis Club in Zamboanga del Norte on Tuesday.

Repaja claimed the girls’ 16-under crown, capping her dominant run with a 6-3, 6-1 victory over doubles partner Yvonne Cuevas then the local bet bucked the odds in 18-under play by disposing of top seeded Jane Echon, 6-0, 6-2, in the semifinals then beating No. 2 Faith Regencia, 6-4, 6-1, to complete a twin-kill in the Group 2 tournament presented by Dunlop.

Bandala, on the other hand, continued to sizzle in 10-unisex category of the circuit put up by PPS-PEPP, holding off doubles teammate Rose Mesiona, 5-3, 4-1, to add the crown to his growing list of victories.

Bandala from Dipolog and Mesiona from Sindangan also ran away with the doubles plum, beating Rasta Baje and Kevin Gallenero, 8-3.

The other singles winners were Dipolog’s Andrei Tan (boys’ 12-under), local bet Angelo Cadavedo (boys’ 14-under), Dumingag’s Aldree Pan (boys’ 16-under), Liloy’s Rastyley Baje (boys’ 18-under), Mesiona (12-under) and Cuevas (14-under).

“I’m happy to see these youngsters’ games being raised to a higher level through their regular participation in the PPS-PEPP circuit. [Pete] Bandala and [Andrei] Tan both started from scratch but have now joined the growing list of winners in the circuit aimed at discovering fresh talents and producing new set of stars,” Palawan Pawnshop President and CEO Bobby Castro said.

Tan trounced Miggy Omos, 6-2, 6-1; the unranked Cadavedo crushed No. 3 Marc Fernandez, 6-1, 6-0; the fourth-ranked Pan stunned top seed Russel Daarol, 6-3, 6-2; Baje also shocked Daarol, 6-4, 6-4; Mesiona routed No. 1 Neach Domiguez, 6-1, 6-1; and Cuevas turned back top seed Jalia Elumba, 7-5, 6-3.

student at Immaculate Concepcion Academy-San Juan City, broke records in the 200-m backstroke and 200-m individual medley.

With a vast experience in Southeast Asia-level competitions, Chua clocked two minutes and 43.08 seconds in the 200-m backstroke to erase the 2:46.36 mark set by Thanya Angelyn de la Cruz last year in Vigan.

Roz Ciaralienn Encarnacion of Calabarzon claimed silver with 2:46.18 to also surpass the previous record, while Mary Sophia Mamantan of Mimaropa settled for bronze with 2:47.16.

Chua returned to the pool and set the bar higher when she broke the 21-year-old record of Althea Lim in the 200-m IM. Chua clocked 2:23.86 to beat Lim’s 2:25.66 she made in the Bacolod City 1998 Centennial Palaro.

Michaela Jasmine Mojdeh landed second in 2:30.11 to make it a 1-2 NCR finish, with Davao

Region’s Alissa Ysabelle Lazzaraga (2:31.07) settling for the bronze.

“Coming here I did not expect anything, so I focused on swimming my own races,” the 17-yearold Chua said. “I did not join last year’s Palaro to focus on training and international competitions.

It paid off here.”

Jerry Vasquez, meanwhile, shattered another record set in 1998 in 3,000-m steeplechase for secondary boys at the University of MindanaoMatina Campus.

The pride of Central Luzon won in 9:35.2 seconds to erase the 9:41.7 mark of Crisanto Canillo. Ritchie Estampador of Western Visayas checked in at 9:37.23 to claim silver, while Jaspher Delfino of Bicol region clocked 10:00.92 for bronze.

In high jump for secondary boys, Kent Bryan Celeste of Ilocos region was in tears after leaping

2.02 meters to beat his own Palaro record of 1.99 m he set in Vigan last year.

Celeste, a native of Anda in Pangasinan, dedicated his feat to his parents who left him when he was still young. He took athletics as a source of strength.

“At least I proved my worth even without the guidance of my parents,” Celeste said. “Yes, they abandoned me, but still I thank them. I wouldn’t be here if not for them.”

Central Luzon’s Shane Patrick Tolentino (1.97 m) and Calabarzon’s Patrick Botabora (1.88 m) completed the podium.

Central Luzon’s Gail Santos, on the other hand, harvested four gold medals in artistic gymnastics for elementary girls at the University of Immaculate Concepcion. She topped the vault, balance beam and floor exercise for the individual all around title.

CARGO MOVERS EYE CROWN VS. BLAZE GALS

F

2 LOGISTICS goes out to complete one of the biggest upsets in league history when it clashes with Petron in Game Two of their Philippine Superliga Grand Prix best-of-three finals showdown on Thursday at the Filoil Flying V Centre in San Juan.

The match is set at 7 p.m. with the Cargo Movers looking to carry the momentum from their 25-20, 16-25, 25-23, 25-23 victory in Game One. The Cargo Movers played like champions in the opener with Lindsay Stalzer and Maria Jose Perez, two imports who thrive well when the stakes are high, towing their team to a red-hot start before unleashing a strong finishing kick in the third and fourth sets to shock the erstwhile unbeaten Blaze Spikers.

Perez, the Most Valuable Player two years ago, fired 24 points with 11 excellent receptions while Stalzer torched her former team with 21 points and 17 digs to put the Cargo Movers on the brink of one

of the biggest upsets in Superliga history since RC Cola-Army stunned the Thailand juniors team in the 2016 Invitational Conference finals.

Middle blockers Majoy Baron and Aby Maraño were also instrumental as they registered six of their 10 blocks in the fourth set, leaving Petron imports Stephanie Niemer and Katherine Bell struggling for form.

“We came into the match with a mindset that we have nothing to lose,” said F2 Logistics Coach Ramil de Jesus, who also engineered the Cargo Movers’ come-from-behind win over the Blaze Spikers in the Grand Prix finals in 2017.

“But our imports wanted it more. They were very hungry to win against a very strong and talented team like Petron,” he added.

But de Jesus knows that bringing down Petron require more than just a stroke of luck.

Niemer and Bell are tipped to bounce

back while the core of Mika Reyes, Rhea Dimaculangan, Aiza Maizo-Pontillas, Frances Molina and Denden Lazaro are expected to bring their A-game now that they are staring defeat into the eye.

“The big question to the team is: Can we sustain this? We know this is worthless if we couldn’t finish the job,” said de Jesus, whose wards survived a 30-point outburst from Bell and a 20-point effort from Niemer in Game One.

Santo Tomas U beats DLSU, bags No. 2 seed in Final Four

U

NIVERSITY of Santo Tomas (UST) rolled past a De La Salle side that seemed to have lost sting late in Season 81 and forged a 25-14, 25-23, 23-25, 25-19 victory to claim the No. 2 spot in the Final Four and a twice-to-beat bonus in the University Athletic Association of the Philippines women’s volleyball tournament on Wednesday at the FiloIl Flying V Centre in San Juan City.

Sisi Rondina caught fire and exerted her veteran smarts to the hilt and rookie sensation Eya Laure was indefatigable in playing the support role as the duo powered the Golden Tigresses to the semifinals incentive where they face anew the defending champion Lady Spikers on Sunday.

“This is a big morale booster for the team. What we need to do is to prepare well and recover for the Sunday game,” UST Head

Hungarians, Filipinas in cage friendly

H

UNGARY celebrated the return of diplomatic representation in the Philippines with a friendly women’s basketball game between the youth teams of both countries recently.

The sports activity was part of the Memorandum of Understanding on Sports Coordination between the Philippine Sports Commission (PSC) and Hungary during the Philippines-Hungary Joint Economic Meeting in Budapest early last month.

Hungary has not maintained an embassy in the Philippines for 22 years.

Hungarian Ambassador to the Philippines Dr. József Bencze said during the welcome dinner hosted by the PSC on Wednesday that Dr. Tamaz Sterbenz, vice rector for General Affairs of the University of Physical Education in Budapest, forged an agreement in sports relations

with Ateneo de Manila University.

Ateneo hosted the friendly basketball games and accommodated the Hungarian women’s basketball team from the University of the Physical Education-Budapest.

“This proves that sports is a vehicle to bridge borders and allows us to work together and do our little part to make this place a better place,” said Erica Dy, assistant director of Ateneo’s Athletics Office.

Department of Foreign Affairs Office of European Affairs Director Jeffrey Valde graced the gathering and said that sports is one of the priorities of the Philippines-Hungary Joint Economic Meeting.

The Hungarian players will play a series of games with Ateneo University of the Philippines squads.

seconds to claim his second gold after the 50-meter breaststroke.

The Philippine swimming wound up with the most number of gold medals with 17 that were laced with 27 silver and 17 bronze medals.

The Philippines wound up with a 30-47-28 gold-silver-bronze tally on Tuesday.

The Philippines, meanwhile, began the badminton preliminaries with an 8-0 sweep of Guangzhou to win its first tie in the team event at the Darwin Convention Centre.

Karylle Kay Molina beat Lan Xu, 21-6, 21-9, in women’s singles and teamed up with Estarco Bacalso in the mixed doubles to beat Yin Du and Chongwei Lu, 21-3, 21-3.

Bacalso also defeated Runjun Yu, 213, 21-4; while Arthur Samuel Salvado beat Peiyu Wu, 21-4, 21-4, in men’s singles.

Macy Anne Patricia Salvado outplayed Limin Xiang, 21-4, 21-9, in women’s singles; as Salvado and Jackie Lynn Pana also won in women’s doubles after beating Jianhua Huang and Xiang, 21-5, 21-2.

Pana also topped the mixed doubles as her partnership with Arthur Samuel Salvado produced a 21-3, 21-10 win over Dongqiu Chen and Lan Xu. John Rodney Pana and Johan Art Rivas beat Dongqiu Chen and Peiyi Wu, 21-3, 21-6, in men’s doubles.

In beach volleyball, Hachaliah Gilbuena and Johnrel Amora beat Northern Territory, 21-17, 21-13, to start the preliminaries of Pool D at the Darwin Waterfront.

In basketball, the Philippine men’s team defeated New Caledonia, 86-75, to book its second win in as many outings at the Darwin Basketball Stadium.

Leomer Losentes had 35 points, while Jumabon Bulac had 12 points including three triples as the Philippines stayed unbeaten in the tournament.

Bulac also hit a triple with 34.5 seconds left in the game that sealed the win for the Filipinos.

THE University of Santo Tomas Tigresses celebrate their playoff victory over the Lady Spikers.

Coach Kungfu Reyes said.

Rondina unloaded a monstrous effort of 29 points off 25 attacks, two blocks and two aces. Laure, on the other hand, contributed 17 points on 15 spikes.

After tucking the first set with relative ease, UST jumped to a 15-7 advantage behind a 10-0 rally in the second set. But Des Cheng took control and initiated De La Salle’s comeback for a semblance of a challenge in the third set.

But there was no denying UST as the Tigresses pulled away at 19-13 and never looked back, Jolina dela Cruz had 12 points, while Cheng and May Luna chipped in nine points apiece for De La Salle.

No.1 seed Ateneo clashes with Far Eastern University in the other semifinal on Saturday.

Ramon Rafael Bonilla

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submission of entries FOR CMMA: Student— FEBRUARY 18 TO MAY 10, 2019 professional—February 18-May 17, 2019

Cry out with joy

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RY out with joy to the Lord, all the Earth. Serve the Lord with gladness. Come before God, singing for joy. Know that the Lord is God. who made us, to whom we belong. We are God’s people, the sheep of God’s flock. Enter the temple gates with thanksgiving and its courts with songs of praise. Give thanks and bless God’s name. Indeed, how good is the Lord, eternal God’s merciful love. God is faithful from age to age.

GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

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Life BusinessMirror

REELING: DATELINE SORSOGON: A PLACE CINEMATIC AND CONSTANT D4

Thursday, May 2, 2019

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ARCHIPELAGOS Institute of Marine Conservation members carry a dead dolphin at a beach of Samos island, Aegean Sea, Greece, on February 9. AP

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Aegean Sea sees ‘very unusual’ spike in dolphin deaths

BY NICHOLAS PAPHITIS The Associated Press

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DE Luxe Twin Suite

❷ SWIMMING

pool at Ibiza Roof Deck

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THE bikefriendly Le Charmé Suites Subic

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THE Front Desk and Reception Area

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THE fourstory high rock climbing wall

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Charmed in Subic S

BY BENJAMIN LAYUG

UBIC Bay, once the site of the largest US naval base in the world, is now, due to its accessibility (it is just a three-hour drive from Manila) and attractions, a favorite vacation spot among Manila local and foreign tourists, offering world-class and unparalleled safaris and ocean parks, amusement spots, beaches, water sports, discount shops and activities.

A three-day and two-night media tour brought us to the hub for visiting these attractions—the conveniently located, Department of Tourismaccredited, four-star Le Charmé Suites Subic, opened in March 2017 by Grand Pillar International Development Inc. (a Filipino and Taiwanese-owned company). On hand to welcome us, with authentic Nai Cha Milk Tea, was Josephine “Jho” Floresca, the super hands-on managing director of the hotel. The French-themed hotel’s name is French for “charm” or a “charmer,” but Jho jokingly said she named it after her youngest daughter, Charm.

This accidental hotel was supposed to be a furniture showroom but has been converted into a handsome, sleek and modern, one-stop leisure and business boutique hotel with 46 beautiful, stylish and spacious rooms. Each room, accessed by equally spacious hallways, have a 50-inch digital LED flat screen cable TV; electronic door access; high ceiling, individually controlled centralized air-conditioning,

in-room safety box, personal refrigerator with complimentary minibar, coffee/tea set-up, bike rack, bathrobe and slippers, daily complimentary bottled water, and complimentary Wi-Fi connection. The private en suite bath has motion-activated lights, hot/ cold water, hair dryer, bathtub, bidet, a separate glass shower enclosure with rainshower head and free French-made Rosslyn toiletry.

We had breakfast and dinner at the elegant, Spanishinspired Mi Tapas, Le Charme’s in-house restaurant.

Promoting LOHAS (Lifestyles of Health and Sustainability), it serves an a la carte menu of Europeaninspired dishes. We also had dinner at the hotelowned Teppan 101, the only Asian-fusion restaurant in Subic. It offers hibachi, sushi and teppanyaki dining plus a cigar and lounge deck. Its engaging chef cooked the food on a griddle right in front of us.

The rooftop Ibiza Roof Deck, with its Game of Thrones motif and backdrop, plus a captivating, almost 360-degree view of the city, the Subic mountainside, and sunset and sunrise, has a world-class, 25-meter long, 4-feet deep, half Olympic-sized swimming pool, a children’s pool, sunken sofa area, shower rooms (male and female) and palm-shaded sun loungers. Nearby is a 200-pax ballroom for wedding receptions and company conferences.

It’s more fun, as well as healthy, to tour around the Freeport Zone and Le Charme Suites Subic using bicycles, a true haven for those who go and visit Subic with their bikes, it is the only “bike-friendly” hotel

in town and in Central Luzon. This can be seen from its elevator (with its bench for the elderly, it is also wide and spacious enough to bring in a bike and other recreational equipment); slip-free and wide carpeted hallways to its rooms and lobby with built-in bicycle racks. The Spin Cycle Station of the Johnson Fitness and Wellness Center also offers the first-ever spin bike class in Subic Bay. Here you can groove and workout in style, and also enjoy a sunset spinning session prepared to have your workout session in style. The hotel also has an outdoor rock climbing wall reaching all the way up to the four-story height of the building The hotel and the building itself use green technology—from the motion sensor LED lights to the soft-touch switch panel (including the Don’t Disturb sign) used to operate everything. It is also reducing its carbon footprint by utilizing solar panels to power the common areas, and a unique rainwater catchment system to water the plants and flush the toilets.

After a tiring day exploring Subic’s sights, I relaxed my tired muscles at Taichi Wellness Spa. With its sauna and jacuzzi, they offer Traditional Chinese Dry Massage, Tai Chi Foot Reflexology, Hilot Massage, Sports Massage, Swedish Massage, Shiatsu Massage, Combination Massage, Body and Foot Massage, Ventosa, Hot Stone, Quaasa (Gua Sha), and Hand and Scalp Massage.

On our last day, prior to leaving, we experienced advanced virtual reality immersion at The Cube. n

ATHENS, Greece—The Aegean Sea has seen a “very unusual” spike in dolphin deaths over the past few weeks, a Greek marine conservation group said in early April.

The Archipelagos Institute said, while it’s still unclear what caused the deaths, the spike followed Turkey’s largest-ever navy drills in the region—the February 27 to March 8 “Blue Homeland” exercises that made constant use of sonar and practiced with live ammunition.

Fifteen dead dolphins have washed up on the eastern island of Samos and other parts of Greece’s Aegean coastline since late February, the group said. Its head of research, Anastassia Miliou, told The Associated Press that 15 is a worryingly high number compared to “one or two” in the same period last year.

The deafening noise of sonar, used by warships to detect enemy submarines, can injure dolphins and whales, driving them to surface too fast or to beach themselves—with sometimes fatal consequences—as they try to escape the underwater din.

“We can’t say that the Turkish exercises killed the dolphins, but the fact that we had such an unusual increase in the number washed up dead—and what we have seen must be a small percentage of the total, because the Aegean has a long coastline—coincided with exercises that used more than 100 ships,” Miliou said. After several mass beachings of whales, Nato, to which both Turkey and Greece belong, adopted a code of conduct for using sonar to better protect marine mammals.

Miliou said the alliance’s rules are respected by the US Navy and the Greek navy but said it was unclear whether Turkey has implemented the guidelines. She urged the Greek government to raise the issue in talks with Ankara.

“With these giant exercises...strain is placed on the entire marine ecosystem, including fish and plankton, because [they] cause intense noise pollution from which marine life can’t escape,” she said.

Turkey did not immediately respond to requests for comment on the issue.

Miliou also said the Aegean “can barely handle” other strains humans are putting on the sea, such as pollution, overfishing and heavy marine traffic.

DOT invites the public to visit Museo de Intramuros AS the Philippines celebrate National Heritage Month this May, the Department of Tourism (DOT) invites the public to explore and learn about Philippine culture and history by visiting Museo de Intramuros in Manila.

Managed by the Intramuros Administration, Museo de Intramuros is located in two important reconstructions inside the walled city: the San Ignacio Church and the Mission House of the Society of Jesus. The museum was designed to house the period art collections of IA that includes ecclesiastical art, furniture, vestments, and textiles and other artifacts.

The museum will be open to the public starting today, May 2. Admission is free.

Museo de Intramuros’s official opening, which took place on April 29, was among the highlights of the IA’s 40th anniversary as an institution. The current in-house exhibition presents the story of the evangelization of the Philippines from the perspective of Filipinos. It explores changes in the “Filipino” psyche as colonization introduced a new religion and culture to the natives.

With the display of religious images belonging to the IA collection, the exhibition is able to highlight Filipino artistry and craftsmanship that developed from the merging of the indigenous and the foreign.

Curated by Dr. Esperanza Gatbonton, Gino Gonzales, Dr. Cecilia de la Paz, Santiago Pilar and Martin Tinio, the exhibition has six components: The Immaculate Conception, The Religious Order, The

ROMULO PUYAT tours the three-story museum, which showcases the religious images belonging to the Intramuros Administration collection.

Patronato Real and the establishment of Parishes, Religious Colonial Paintings, The Establishment of a Parish and Sacred Vessels, and The Indio Response.

In her 1981 book Philippine Religious Imagery, cocurator Dr. Gatbonton writes, “This collection of the Intramuros Administration is extremely valuable because it represents the first real attempt to collect and preserve within the Philippines an important aspect of the country’s cultural heritage.

“The collection affords the viewer a panorama of the various styles and enables him to compare them with the artifacts done abroad in the same medium.

We, Filipinos, have always tended to accept that we

MUSEO de Intramuros will be open to the public starting today, May 2. Admission is free.

were the passive receiver of artistic stimuli from abroad. This collection proves that the Philippines was as much a giver.”

At the museum’s opening, Tourism Secretary and Chairman of the IA Board of Administrators Bernadette Romulo Puyat said, “IA’s dedication in ensuring that the tangible treasures that immortalize our history are now accessible to the public is commendable.”

She congratulated IA Administrator Guiller Asido and the cultural workers behind the museum, adding, “This project, rooted in passion and a deep love of country, must be emulated and replicated.”

“The Department of Tourism will be investing in the promotion of cultural tourism in the years to come. We’re doing it not just because we need to expand our tourism products, engage a specific market and increase revenue. Cultural tourism is telling the world our narrative. It is also a platform to ensure that our heritage structures and objects such as these will be preserved and enjoyed by our progeny,” Puyat said.

The Intramuros Administration is an attached agency of the DOT in-charge of the restoration, development and promotion of the historic walled city of Intramuros.

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Thursday, May 2, 2019

THE versatility of the pepper sauce brand was among the highlights of the recent two-day Taste Setters workshop.

Entertaining BusinessMirror

Tabasco spices up global food trends F OR those who love to keep things hot, you probably have a bottle of Tabasco Sauce always ready in the kitchen. The pepper sauce brand is one of the few kitchen staples that has lasted the test of time, tracing its origins all the way back from 1868. However, not everyone knows it can also be a very versatile cooking ingredient, something you can add to pretty much anything.

International Chef Gary Evans compares Tabasco to salt or pepper, something that helps to bring out the flavor of the ingredients.

“I like to tell people to use it the same way you would use salt. Just like salt, when you add it to food and the cooking process, it takes on a different role.

It’s almost like an umami effect and helps bring out the flavors of ingredients. It helps lift the dish without adding an overwhelming spice—you can put Tabasco in anything and everything,” said Chef Evans.

“If you’re going to use it in a sauce or a soup, add Tabasco at the beginning, and you’ll be surprised, how much you add without adding heat. If you add Tabasco at the beginning, the vinegar evaporates during the heating process, and you’re left with a much fuller flavor, a lot of depth, but not necessarily the heat.

What you find is that, just like with salt, it helps to lift the flavors.”

The versatility of the pepper sauce brand was among the highlights of the recent two-day Taste Setters workshop organized by premium food brand importer-distributor Sysu International Inc. TasteSetters is a workshop series that celebrates the thriving food culture in the Philippines, and puts the spotlight on the country’s emerging food scene.

Through the TasteSetters workshops, local culinary enthusiasts and food entrepreneurs get the chance to be front and center as new food and flavor trends emerge. It also seeks to provide a venue to discover new food trends, and challenge and thrill foodies as they discover new flavors during the workshop.

“Sysu developed the workshop series as part of its mission to develop a noteworthy program that elevates the art and science of food. By being part of TasteSetters, the attendees will gain the opportunity to be on the forefront in the introduction of emerging food trends which, in turn, positively impacts the country’s thriving food industry,” says Sandy Go Cu, product and business development director of Sysu International.

During one of the sessions, Chef Gary shared the shared the trend predictions made by global market leaders Whole Foods and Tyson Foods, as well as the top foodie searches on Pinterest.

Pinterest has always been the go-to app for people in search of inspiration, and foodies are no exception.

The social media platform determines if an idea is trending by looking at what people are progressively searching for.

Finding ways to drink enough water is always a popular Pinterest search. The platform predicts water infusion recipes will again trend, and it has gone beyond citrus. Ginger slices will be big in 2019 as not only flavor boosters in water bottles, but also for their health benefits.

We Pinoys are quite familiar with oxtail and now the it seems the entire world is also hungry for oxtail recipes they can try at home. Pinterest boards focusing on integrating vegetables into meals are perennial favorites and this year, two specific veggies are claiming the spotlight. First are mushroom recipes that include them in everything from coffee concoctions to chocolate bars, while the second veggie trend prediction is more unique—chocho.

The superfood chayote, or chocho, is often still an unknown option but with a 76-percent growth in

www.businessmirror.com.ph

z

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Ellie Kemper, 39; David Beckham, 44; Dwayne Johnson, 47; Christine Baranski, 67.

HAPPY BIRTHDAY: Take care of personal matters that can affect your financial, legal or health matters. Leave nothing to chance. Trusting others to look out for your best interests will not measure up to your standards. A change of attitude or to the way you handle your affairs will pay off. Your lucky numbers are 4, 11, 20, 23, 27, 35, 42.

a

ARIES (March 21-April 19): Opportunity is heading your way. Channel your energy into getting what you want in all aspects of life.

Wheeling and dealing will pay off, and celebrating with someone you love should be on your agenda. HHH

b

TAURUS (April 20-May 20): Don’t make assumptions based on what others tell you.

Transparency will be lacking when dealing with joint ventures. Protect your reputation and stick to the rules and regulations to avoid setbacks. Deal with institutions and red tape with honesty and integrity.

HHH

c

GEMINI (May 21-June 20): Set the pace instead of letting someone else take the lead.

Use your skills, intelligence and charm to outmaneuver negativity and opposition. Form alliances with people who are forward-thinking and eager to bring about positive change. HHHH

d

CANCER (June 21-July 22): Be careful who you choose to associate with personally or professionally. Don’t be fooled by a smooth talker. Look for people who offer sound advice and practical options that you know you can afford and incorporate into your life. HH

e

LEO (July 23-Aug. 22): A change may not appeal to you initially, but with a little finagling, you’ll find a way to move forward.

Personal improvements will pay off and encourage others to support your efforts. HHHHH

f

SCRUMPTIOUS FREEBIE FOR GRADUATES

INTERNATIONAL Chef Gary Evans compares Tabasco to salt or pepper.

chayote recipe searches, Pinterest sees the unique gourd option as trend.

Last, with all those new food trends, Pinterest adds a potential weight loss trend to their 2019 list.

Going “pegan”—part paleo, part vegan—is a diet that is taking root with people on the hunt for healthy habits, and has become one of the top pins as well. The “pegan” diet is already starting to climb the Pinterest search lists with a 337-percent increase in searches.

Meanwhile, “Flavor Your World” is Tabasco’s first global campaign in celebration of its 150th anniversary. As an ingredient or condiment, Tabasco can make your food or drink taste better. By the drop, dash or splash, the pepper sauce brand offer a variety of heat levels and flavor profiles for exploration and personalization, providing excitement whenever, wherever you are cooking, eating or drinking.

Adding even more choices to its lineup of sauces is the new Tabasco Sriracha, a blend of authentic flavors unique to Southeast Asian cuisine. It is flavored with oak barrel-aged tabasco peppers, with no preservatives or fat, is gluten free, with no food coloring or dyes, and made with the Tabasco brand Original Red Sauce. n

HONOR the milestone of your loved one’s graduation and revel in the special treat Eastwood Richmonde Hotel (www. facebook.com/EastwoodRichmondeHotel) has for the class of 2019 at its chic all-day dining restaurant, Eastwood Café+Bar. What better way to pay tribute to the hard work of the newest diploma-holders than with a complimentary lunch or dinner meal in the company of their greatest supporters?

Choice grilled entrées are on the house for all graduates celebrating at Eastwood Café+Bar with at least four family members or friends ordering at least a main course dish from the à la carte menu.

The graduate can choose from grilled beef tenderloin, grilled pork chop or grilled half chicken. What’s more, the entire group gets complimentary chilled juices and 10-percent discount on all food and beverage orders.

Graduates just need to present any valid proof of graduation in 2019 (e.g. diploma, graduation program, etc.) to enjoy their free meal. This offering is available until May 31 for lunch and dinner.

VIRGO (Aug. 23-Sept. 22): Financial, contractual or health issues will surface.

If you take on too much or you are unable to adjust to what’s happening, it will be difficult to get ahead. Make sure you know what you want before you engage in negotiations. HHH

g

LIBRA (Sept. 23-Oct. 22): Walk away from negativity and toward enlightenment.

Seize the moment, and follow your heart and your dreams. Make relationships, love and gaining experience your priorities. Romance will improve your attitude and your personal life. HHH

h

SCORPIO (Oct. 23-Nov. 21): Look for something new and exciting to occupy your time and to help you make a change to the way you move forward. Traveling, learning and new experiences will prepare you for what’s to come.

Embrace life to build your future. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Put more emphasis on personal growth, home and family. Mental, emotional and physical changes will prompt you to engage in relationships with people who share the same interests. Simplifying your life will free up more time to spend with someone you love. HHHHH

j

CAPRICORN (Dec. 22-Jan. 19): Stay calm, and don’t worry so much about what others do or say. Pay closer attention to your home, how you live and the changes you want to make to ensure your stability, security and comfort moving forward. HH

k

AQUARIUS (Jan. 20-Feb. 18): An unexpected offer should be looked at carefully. If you are uncertain, say so and move on to something more suitable. Make decisions that serve you well. HHHH

l

PISCES (Feb. 19-March 20): Get involved in something you believe in, and make a difference. The experience will be satisfying and change your attitude toward life and the way you want to live. HHH ONE of the lip-smacking grilled meats on offer as a treat to graduates.

BIRTHDAY BABY: You are active, unyielding and protective.

You are reserved and observant.

‘rustling leaves’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Brazilian dance 6 Java neighbor 10 Dined 13 Job-terminating declaration 14 Accountant’s assignment 15 Unfavorable vote 16 Clergymen after big meals?

18 Often-patterned garment 19 Land cultivation, or cultivated land 20 Online letters 22 Senators’ golf course helpers?

25 Last Stuart dynasty queen 28 Up to, for short 29 Tiny bit 33 Espionage org.

34 Bird song critics?

38 Moses parted it 40 Warnings 41 Buffet server’s exasperated words to a gluttonous patron?

45 Victorian ___ 46 Hot pastrami seller 47 Compete 48 Have ___ in (influence)

9 Classy guy on parole?

4 54 Cloth bag 57 Italian dumplings 61 Human, for one 62 Green side dish, and a hint to this grid’s eighth-column letter swaps 65 Pedicure digit 66 Swift 67 Author Zola 68 Flesh-bone connector?

69 Black gemstone 70 Leopard features DOWN 1 Do a flour task 2 Here, in Spanish 3 Ponder 4 Holiday in the music industry?

5 Equal to face value 6 Schoolchild’s ride 7 Stir 8 Like some paper and pockets 9 Arrival announcement 10 Not pro 11 Expressive dog part 12 Windows to the soul, supposedly

4 Coy comeback 1 17 In the past 21 “All kidding ___...”

23 Be sick 24 Sick 25 Unpleasantly sharp 26 She may cry “Uncle!”

27 Tennis star Rafael 30 Trolls’ relatives 31 Popular aquarium fish 32 Evaluate 34 Asian New Year 35 “Yay!” syllable 36 ___ alai 37 Last: Abbr.

39 What bloodhounds love to do 42 Night before 43 Kool or Band follower 44 Identified 48 Where kids make s’mores 50 Back in fashion 51 Online finance site 52 Burnt barbecue bit 53 :) and :( don’t have them 54 Pie chart inputs

5 Atop 5 56 Nourish 58 Muse of history 59 Sentry’s warning 60 Bad day for Caesar 63 Catch sight of 64 Lowest clock number

Solution to yesterday’s puzzle:

Parentlife BusinessMirror

www.businessmirror.com.ph

Thursday, May 2, 2019

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CLOCKWISE: With Suwanna, a Thai CEO, who I consider a great mentor and friend, as we were at a short dinner cruise in Hawaii; during my last trip to Indonesia where, after days of spending time with “culturally proud” locals, I was as proud to wear a “batik” overcoat; and me in the streets of Germany, a country I look up to in culturebased education through the arts, and where a historic church is preserved in the midst of a nice shopping area

ANOTHER SLEEPING ROCKER RECALLED AFTER 5 INFANT DEATHS ANOTHER brand of sleeping rockers is being recalled, after five infants died in them over the past seven years.

Kids II said on Friday that it is recalling nearly 700,000 rocking sleepers that were sold since 2012 at Wal-mart, Target and Toys “R” Us. It comes just two weeks after Fisher-Price recalled about 4.7 million of its similar Rock ‘n Play sleepers in which more than 30 babies died over a decade.

The deaths in both sleepers occurred after infants rolled over from their backs to their stomachs or sides while unrestrained. The sleepers are soft padded cradles that rock or vibrate to help put babies to sleep.

The US Consumer Product Safety Commission said on Friday that anyone who bought the Kids II sleeper should stop using it right away.

Consumers can get a refund or voucher by contacting Kids II. The recall covers all models of Kids II sleeping rockers, which were sold for between $40 and $80. AP

I vote for ‘Glocal Education’ MOMMY NO LIMITS

MAYE YAO CO SAY

mommynolimits@gmail.com

E

LECTIONS are coming up soon. I see all the well-designed profiles and catchy copies of candidates on billboards and posters. Last week, I heard my 13-year old daughter ask me why a candidate runs for office. She asked why voters would vote for particular candidates. The answers might seem straightforward but in today’s Philippine electoral setting, I could not give her a solid answer.

For the past year and a half, I have been finishing my units for BS Education. My very last paper was to give my view on globalization in education. Thanks to Prof. Regie’s guidance, I premised my paper this way: “A true global education must ensure the strengthening and non-dilution of nationalistic identity, while applying the vision and competencies available for a global education. Hence, a ‘glocal’ education is necessary for an education system that truly contributes to long-term ‘nation-building.’”

As I was reading through materials on global education, I felt our Philippine education is quite global relative to what I see from my friends in Thailand and Indonesia. Their curricula are more culturally ingrained. In Thailand, local schools are purely taught in Thai language in all subjects. I learned that the local elite found it more prestigious to study in local Thai schools than international

schools. When I was discussing fashion brands with a local Thai CEO of a multinational company, she found their local brand, Jaspal, far better than international brands like Zara. I found it refreshing. I had to ask myself if our local education is too “global” that it has actually and continuously diluted our nationalism. As parents, how many of our kids have the hardest time in their Filipino subjects?

In my opinion, our education system has aimed to develop a profile that puts us ahead in the English language. English schooling has seen greater importance over the years because of the lucrative jobs available. From nursing to medical technicians, BPO agents, and men and women working in ships, you will always hear that Filipinos are preferred and get premium benefits because of our English proficiency. The result is a strong migrant economy that generates around $2.7 billion in remittances from Filipinos working largely in the United States, Saudi Arabia, the United Kingdom, Japan, United Arab Emirates, Singapore, Italy, Germany and Norway.

This started in the 1970s when Philippine economy was slowing down and the Middle East had high job requirements. I would like to think this was thought of as a stopgap.

Today, I believe our country is poised toward a better economic environment. I believe our government can spend resources in injecting proactive nationalism and pride in the future voters.

In turn, voters can become more discerning to choose honest candidates who run to serve true Filipino interests.

A “culture-based education”, according to Assoc.

Prof. Ferdinand M. Lopez from the University of Santo Tomas, aims to make students knowledgeable and appreciative of our national and local history, heritage and language. The benefits, among others, include nurturing a sense of identity that, in turn, demands a

sense of responsibility to develop, value and protect our country.

My work entails a lot of travel. I have always been fascinated to speak to people of different nationalities and learn how their country evolved to where it is today. In many conversations, I would be fascinated by certain cultures that exude so much national pride.

Then I would correlate it to their national economic performance.

I was tasked to set up a project in Thailand in 2008.

I had a hard time with the language because most of the locals spoke only Thai. The only ones who could speak English were those who studied abroad. But what was amazing was that those who studied abroad were so proud of their King, their culture and their own local products. Back then Thai’s GDP per capita was $4,378.69; today, it is $6,593.82.

Among the countries and cultures I have researched on, I am particularly amazed at Germany.

What I was particularly drawn to was how they fostered nationalism through artistry not to the chosen few but to the critical masses. The importance of operas like those by Richard Wagner and other musical pieces, novels, popular fiction on German culture helped to bring a diverse set of Germanspeaking people together. This enabled them to spread the language, as well as allowed nationals to bind each other with common stories and experiences.

These eventually led to a more united social mores, norms and customs that make them truly “Deustche.”

Germany’s current GDP per capita is $44,469.91.

The question that comes from the preceding information is: Is there hope for the Philippine education system to produce nation-loving and highly competent individuals?

Next week, let me share new things I discovered about colonial mentality and my wish as a parent for a “glocal education.” n

Unicef stresses importance of immunization on World Immunization Week INDULGENT TREAT FOR MOTHER’S DAY

THE famous Singaporean global tea brand TWG Tea pays tribute to the unconditional love of all mothers with a feast of a Mother’s Day Set Menu.

Redefining dining once again, the leader of tea gastronomy artfully integrates the finest teas to its unique culinary creations to ensure the perfect gastronomic experience on this special day.

Begin the memorable celebration with the seared halibut fillet wrapped in a chive crepe with baby potatoes and shallot confit, served with a tartar sauce infused with Genmaicha.

Express your gratitude and affection with a delectable squid and scampi pasta served with shimeji mushrooms, garlic and parsley infused with Tokyo-Singapore Tea. Accentuating the sweetness of the seafood, pair this dish with a warm cup of Geisha Blossom Tea, a vivacious blend of green tea and refreshing, ripe southern fruits; or the French Earl Grey Tea, a fragrant black tea delicately infused with citrus fruits and French blue cornflowers.

Complete the unforgettable meal with an alluring heartshaped gateau of honeycomb layered with strawberries and banana, coated with Silver Moon Tea-infused white chocolate topped with dried roses—an impressive dessert that will put a smile on your mum’s face.

TWG Tea’s Mother’s Day Set Menu can be enjoyed from May 5 to 26 at the TWG Tea Salon in Greenbelt 5, Shangri-La Plaza and Central Square.

AN estimated 2.9 million Filipino children are unvaccinated and remain vulnerable to life-threatening diseases such as measles, rubella and polio, Unicef highlighted as it marked World Immunization Week from April 24 to 30.

The measles immunization coverage in the country has declined at an alarming rate, from 88 percent in 2013 to 73 percent in 2017. In 2018, measles immunization coverage was recorded at less than 70 percent, far below the 95 percent required for population immunity. Public hesitancy, vaccine stock-outs, the lack of aptly trained health workers, and accessibility of hard-to-reach areas put many children susceptible to diseases.

This leads to more outbreaks and put more children at-risk of getting sick from life-threatening diseases.

“Every child has the right to the best possible health care and access to disease protection through timely vaccination. Vaccines are the safest and most effective way of saving lives,” says Unicef Representative a.i. Julia Rees.

Philippine laws support immunization through the Mandatory Infants and Children Health Immunization Act, or Republic Act 1052, which makes basic immunization mandatory and free at

any government hospitals or health centers for infants and children up to five years of age. Unicef advocates that the unfinished business of immunization is every child’s right and everyone’s business.

Increasing immunization coverage requires everyone to work together urgently, not only health workers.

While parents and caregivers are mainly responsible in having their children immunized. Everyone in the community has a role in ensuring that all children, especially the most vulnerable and marginalized, are immunized according to schedule.

Local leaders, religious groups, academe, friends and family of parents with children, and influencers have a role in making sure every child is reached with the right information, and that parents are empowered to make the right decisions.

Unicef works with the Department of Health, the World Health Organization, and other partners to protect and promote immunization.

Throughout its seven decades in the Philippines, Unicef has helped the government through: n Procuring vaccines and other immunization supplies such as

GENNIE OLIVA stands holding her child Kivet Marten-Oliva after receiving vaccination for the child against measles, mumps and rubella (MMR) at the Lower Bicutan Health Center in Taguig City.

SHEHZAD NOORANI

vaccine fridges, vaccine carriers and temperature monitoring devices; n Strengthening the immunization supply chain; n Building the capacity of health workers involved in immunization at the national and local levels; n Developing guidelines and monitoring tools; n Introducing innovations in the vaccine cold chain like the use of solar refrigerators in case of disasters; n Empowering local health actors

by establishing health boards and enacting ordinances; and n Helping health workers communicate health messages effectively.

Unicef has been relentless in saving children’s lives through immunization against preventable childhood diseases. The UN Children’s agency has helped the Philippine government eradicate polio and maternal and neonatal tetanus, proving that vaccines work and are safe and effective.

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Show BusinessMirror

Thursday, May 2, 2019

MASSACHUSETTS Institute of Technology’s signature Great Dome draped with a giant cloth version of Captain America’s red, white and blue shield, in Cambridge, Massachusetts. AP

Cover-up: Students deck out dome with Captain America shield CAMBRIDGE, Massachusetts—Student pranksters at the Massachusetts Institute of Technology (MIT) have struck again, drawing inspiration from America’s hottest movie.

MIT students over the weekend draped the university’s signature Great Dome with a giant cloth version of Captain America’s red, white and blue shield. Their efforts drew a Twitter “Very cool!” from actor Chris Evans, the Massachusetts native who plays Captain America in Avengers: Endgame.

The shield went up on Saturday night and was taken down on Monday morning.

MIT students have for generations centered similar pranks, which they call “hacks,” on the dome.

A realistic police cruiser was placed on the dome in 1994. In 1999, it was decked out to look like R2D2, the robot from Star Wars.

Raymond Huffman, a 20-year-old from New York’s Long Island, says he didn’t have anything to do with this year’s prank, but posted on YouTube aerial video that he shot from his drone of the final product that’s since generated tens of thousands of views.

Huffman said a friend involved in the prank told him the group had spent about six months planning the effort.

The prank tradition isn’t an annual event at MIT and tends to happen spontaneously by groups of students that, for the most part, want to remain anonymous, he added.

“It’s kind of cool to see the hacking culture has been maintained,” Huffman said. “These are things you hear about when you first come to MIT.” AP

Daniel Radcliffe to return to London stage in Beckett play LONDON—Daniel Radcliffe is returning to the London stage in a Samuel Beckett double bill.

The Old Vic Theatre says the former Harry Potter star will appear alongside Alan Cumming in a production of Beckett’s bleak comedy Endgame that opens in February. It will be performed along with Beckett’s rarely produced short play Rough For Theatre II. The 29-year-old Radcliffe appeared at the Old Vic in 2017 in Tom Stoppard’s Rosencrantz and Guildenstern Are Dead.

The Old Vic’s 2019-2020 season will also reunite Claire Foy and Matt Smith, stars of the first two seasons of The Crown, as a couple grappling with the fate of the planet in Lungs.

The theater also plans to stage Lucy Prebble’s A Very Expensive Poison, based on the killing of former Russian agent Alexander Litvinenko. AP

www.businessmirror.com.ph

Dateline Sorsogon: A place cinematic and constant REELING

TITO GENOVA VALIENTE

titovaliente@yahoo.com

I

T has been almost 70 years after my mother studied in Sorsogon Provincial High School, now Sorsogon National High School. I am in Sorsogon as I write this. Two days ago, I stood in front of the grand façade of the high school, feeling unashamedly sentimental for I never thought I would return to my mother’s alma mater—and give a lecture there.

Sorsogon must be the loveliest province in the entire Bicol region. The mountains loom close to the towns. As one turns from the highway, a cove appears and one looks from the highway to the blue sea. Trees with giant trunks guard the roads and keep the noise of the developed world from the woods of silence and isolation.

Sorsogon is a place that has the charming cliché and sole contract, one feels, for loss and remembering that a short film, elliptical in the telling, can capture. It is a lovely place—this small new city that has retained the open charm and embrace of a still quiet town. One sees plots and narratives unfolding behind the old, old windows of the old homes of Juban. From afar, Bulusan, the smaller (by perception) of the three major volcanoes in the region, has its own allure. It is a mountain that people climb but nevertheless is stubborn enough not to submit to the conquest of the lowlanders. From the sea or the mouth of a green river, Bulusan is majestic without being forbidding.

I have been here in Sorsogon for two days now.

I am here to talk about cinema, in this place that makes you think the streets and tall trees are part of a thought-out production design. It is therefore appropriate that I came to this place for the sake of a film reading workshop and film education.

The Film Development Council through its program Faculty Film Symposium, which is delivered through its FDCP Film School, has brought us all to

Sorsogon City. The outreach program usually involves three speakers: one to talk about the basic tools in filmmaking and another to discuss how to create synergy among students with regard to programs and events on film education and filmmaking.

I am usually assigned to talk and facilitate a lecture-workshop on how to understand films through education.

One must understand that the technologies—the form and content—of cinema or film has become part of the curriculum especially for junior and senior high schools. Films are not only shown in social science subjects and other value-forming disciplines; they become projects of students.

In subjects that focus on the person and valueformation, students are expected to do films that will capture stories about values and appropriate social behavior in public places or in some other spaces.

There is a current movement at present that appeals to educators to incorporate in the subjects they teach the old GMRC (Good manners and Right Conduct).

When we go to the field, we bring, as K.O.L. Burridge puts it, our biases and prejudices. This perception affects as well film educators who descend upon local communities bringing innovations and techniques to improve what they have or do not have. But this is not correct. I always begin my workshop with a “diagnosis,” a kind of test on what the participants already know. And, given how pervasive cinema is in our life, it is amazing to listen to these teachers speak not only about their favorite films but also the elements that make a film compelling.

On the first day of the workshop in Sorsogon, I merely asked two questions: What is your favorite film and why?

The responses were varied. One thing was common with the respondents. They could tell the details of the narrative but they could not remember the name of the director.

From an almost rambling conversation in the morning, I went into the elements of cinema, emphasizing the more obscure aspects like sound design and editing.

With regards to editing, I posed the question: Was the decision of the director to lengthen or shorten the scene justified? Was the film fast or slow? What was the rhythm of the film? Did you feel it? Where was the beat coming from? Was the beat obvious, or did you merely sense it? All these processes are brought about in editing.

“Is silence a sound?” The question may come across as absurd but it is a question that demystifies the value of sound design. We had a long discussion about how many of the films in our country can be “talkative.”

We went into the merits of a film where, for maybe 10 or 20 minutes the images pass across without any music and without any sound.

What is a forum on film without the mention of classification, moral codes and cultural gatekeeping?

Pauline Kael served an elegant purpose to that point when I presented a quote from the late film critic: “Irresponsibility is part of the pleasure of all art; it is the part schools cannot recognize.”

The quote is appropriate because the participants were all public-school teachers. The crisis always of the pedagogue is whether art that disturbs and is not about the harmony of colors is good art to share with the young mind or those in the process of being “educated.” Does violence as depicted graphically in films have a place in the discussion of cinema in the classroom?

The second day looked at how to introduce film education and filmmaking. We went through the intersections of Literature and Cinema. The question was to what degree can the cinema alter a book by editing out some parts of the piece?

We also detailed the other engagements of cinema: Cinema and History, Cinema and Politics, and so on.

My session ended with a scanning of the environment, which sought to answer the following question: What are the events the school has which are related to film education and filmmaking? The teachers were asked to enumerate the events and then to assess them in terms of effectiveness.

The other question was: Is there an audience for good film in my schools and communities? This was followed by the question: What can I do to create an audience for a good films?

Finally, we grappled the two questions: How do I create an enabling environment for film education and filmmaking? What groups can I organize that will contribute to cinema?

At the end of the session, one teacher said that she was eager to learn more about filmmaking: “I do not want to teach how to make films; I want to make films myself.”

I wish she would make a film about coves and crabs, and the most splendid pili nut, and those houses and the secrets they would only reveal to a good camera, to splendid cinematography. n

Mayday Parade live in Cebu and Manila THERE’S a reason Mayday Parade has always been a crowd favorite—it’s rare for a band to make a connection with their fans, no matter where in the world they are from, that is strong and genuine enough to last more than a decade. It is an even rarer sight when you see that connection grow ever stronger through the years, with every show and with every album release.

On June 15, 2018, Mayday Parade released their sixth album, Sunnyland, and opened a new chapter in their incredible journey as a band.

The Philippines has had the pleasure of seeing them more times than any other country in Southeast Asia, yet fans are always eagerly waiting for the next show. And every time Mayday Parade comes back, they would play to a crowd larger than the last.

This 2019, Mayday Parade is sure to see even more of their Filipino fans on the Welcome To Sunnyland Tour Tour. The band will be playing two legs of the tour in the Philippines,

presented by PULP Live World (www.pulp.ph): Manila and, for the very first time, Cebu. The first show is on May 3 in Cebu, happening at the Sky Hall Seaside Cebu.

The second leg follows on May 5 in Manila, at the New Frontier Theater in Cubao. Tickets to Mayday Parade for the Cebu show are available through SM Tickets outlets nationwide and online (www.smtickets.com), while tickets to the Manila show will be available at Ticketnet outlets and online (www.ticketnet.com.ph).

Tickets for the Cebu show are priced at: PULP Royalty-P6,000 (includes VIP A Ticket, Priority Entrance, and Meet and Greet with the band), VIP A-P3,500, VIP B-P2,500 and General Admission-P1,500.

Tickets for the Manila show are priced at: PULP Royalty-P6,000 (includes Exclusive Royalty Pit, and Meet and Greet with the band), VIP Orchestra A-P3,500, VIP Orchestra B-P2,500, Loge-P2,000 and Balcony-P1,500. Ticketing charges apply. Doors open at 6 pm and the shows start at 8 pm. For the PULP Royalty package, send an e-mail to royalty@pulp.ph or call 727-4957 for assistance.

MAYDAY Parade

Ken Chan, Rita Daniela team up anew for special concert

KEN CHAN and Rita Daniela

FOLLOWING the success of the top-rating GMA afternoon series My Special Tatay, the well-loved pair of Ken Chan and Rita Daniela reunite on the concert stage for My Special Love: #BoBreyinConcert on May 11, 7 pm, at the Music Museum.

The highly anticipated event is Ken and Rita’s way of expressing their heartfelt gratitude to everyone who supported them throughout the successful run of their drama series.

Ken shares: “Iku-kwento namin kung paano namin narating ’yung mga pangarap namin sa buhay through our concert and through the songs we will be performing. Maraming throwback na mangyayari.”

Rita adds, “We’re really excited for the people we’re going to collaborate with. Isa sa

mga guests namin ’yung mga batang may autism at intellectual disabilities. They’re part of our success. Whatever we have right now, they’re part of it. Dapat kasama rin namin sila.”

But before they bring the #BoBrey kilig on the concert stage, the two multitalented Kapuso stars also treat their fans with their individual singles.

Ken released his newest single “1 Like” under GMA Music on April 30. It is now available for streaming on Apple Music, iTunes and other digital stores worldwide. Its music video, directed by Miggy Tanchanco, is also available for streaming on GMA Music’s YouTube channel (GMAMusicOfficial).

Meanwhile, Rita recently released her single “Florita.” It is composed by Rita herself and Randy Salvador. Distributed by GMA

Music, “Florita” is now available for streaming on Apple Music, iTunes and other digital stores worldwide. The concert will surely be a night to remember as it promises heartwarming classics and pure entertainment with The Clash alumni Jong Madaliday, Garrett Bolden and Anthony Rosaldo.

My Special Love is copresented by GMA Music, GMA Network (with Barangay LS 97.1 as official media partner), and Starmedia Entertainment. Creative direction is by Mcoy Fundales with musical direction by Marc Lopez. Ticket prices are available at P3,500 for VVIP (with meet and greet with Ken and Rita after the concert), P2,500 for VIP, and P1,500 for Gold via www.ticketworld.com.ph. For ticket inquiries, contact Ticketworld at 891-999, or Music Museum Ticketron at 721-0635.

Envoys&Expats BusinessMirror

www.businessmirror.com.ph | Thursday, May 2, 2019 E1

Chiropractor spreads good messages and miracles from his practice

S

By Excel V. Dyquiangco | Contributor

INCE he was young, Rob Walcher had always preached and practiced an active lifestyle.

One day in his 20s, while working out inside his home in Reno, Nevada, Walcher suddenly sprained his back.

It was so severe that he was unable to study, or even bend forward to tie his shoes.

He trooped to an orthopedic, who directed him to a physical therapist and advised him to take some medicines. However, despite two weeks of constant medication and therapy, his condition didn’t improve, or his physical movements return to normalcy.

“My father recommended that I go to a chiropractor. And that changed my whole life,” he recalled.

“The chiropractor ‘adjusted,’ me and within the first five minutes, I felt I got a lot better, and that was amazing. It hit me right there and then that I wanted to become one.”

After finishing his major in Biology, he studied at the Palmer College of Chiropractic West in San Jose, California, where in five years, he

learned the science behind chiropractic medicine.

“It was equivalent to medical school because we are responsible for diagnosing people,” Walcher said. “We just do not prescribe drugs, so we do not learn pharmacology.”

He emphasized one fact about his practice: “Chiropractors believe that the body has the power to heal itself, so we don’t prescribe medication.”

After graduating from chiropractic school in 2000, Walcher transferred to San Diego because he loved the beach and the sun. Eventually, he opened a clinic in the said city.

Spine specialist

ACCORDING to “Doc Rob,” chiropractic medicine has a different approach compared to physical therapists, massage therapists and acupuncturists.

This is because, while doctors focus on a person’s symptoms,

chiropractors look more for the source of their physical malady.

“Somebody comes in with a shoulder pain or a muscle tension,” he explained. “What [other] doctors will do is that they will focus on that particular area. They will put needles there. They will rub the knee.”

“For us, we don’t focus on the symptoms. I, [for instance, dwell] on the misalignment so that if, for instance, the pelvis is out of [place], that’s what we work on.

We allow the body to function and heal itself.”

Walcher continued: “By caring for your spine, your joints are [supposed to move] properly, [as well as] your shoulders, pelvis, knees, ankles, elbows and wrists. Everything is dictated by the spine. If [it does not move] properly, other ailments such as a frozen shoulder, tendonitis of the elbow, knee pain, ankle pain [and the like] will manifest over the years.”

“In all,” the American chiropractor pointed out, “we keep your joints and your nerves healthy, especially if you are getting regular care.”

Falling for a Filipina

WALCHER recounted that a major life event happened three years

after establishing his clinic.

It was then when he met his future wife, a Filipina named Genesis Canlapan, who is better known in the local entertainment industry as actress Patricia Javier. They met while she was top billing a concert in California.

They tied the knot in 2006. Early in their marriage though, the chiropractor admitted that theirs was a long-distance relationship.

They described their setup as: “I was coming here, and she was going there.”

In 2007 the couple welcomed their first child and a few years later, was blessed with a second one.

Six years after, Walcher sold his clinic in the United States, as both decided to relocate to the Philippines afterward.

“I told my wife that [since] I’m free from my business, let’s go to the Philippines and just spread the chiropractic message.”

Spreading the chiropractic message

IT did not take too long, however, before people began lining up at his house for an “alignment.”

Using a portable adjusting table, Doc Rob began curing his clients in his garage. He and Mrs. Walcher soon began making the rounds in

churches, gyms and other businesses to discuss chiropractic care and nutrition.

Because of the Filipinos’ enthusiastic and appreciative reception to his practice, Walcher decided to open a clinic in Diliman, Quezon City in 2016.

To serve even more people with the natural healing brought about by chiropractic care, a second location in the neighborhood of San Lorenzo, Makati City, was founded in 2018.

He admitted that opening a business in the Philippines wasn’t much of a “backbreaking” effort. Perhaps, his union to a Filipina helped his cause.

“There were not many challenges, because we went through all the proper steps.”

He finds his job fulfilling as it enables him to help a lot of people and be part of the miracles in their lives.

“To be able to give them hope and give them answers—that’s the reward in itself. We are confident to tell people that this is the reason they have this, and this is what they should do to make it better.”

Just this year, Walcher released his book, Doc Rob’s Guide To Better Health and Wellness, a guideline and a map for people who just want to get healthy. In its pages are sample

exercises and cooking recipes that, according to him, people can both do at home.

“People started asking me about diet and nutrition. That’s how the book started,” he shared. “[There,] we talk about having a positive mental attitude and detailed information on sleeping properly, and positions they should practice. Of course, we also give extensive information about the benefits of chiropractic care, and in [caring for] your nervous system.”

Aside from his practice and his book, Walcher currently markets pillows and other products in his clinics. He also conducts seminars and trainings in schools and other learning institutions. The chiropractor also plans to open other branches in the southern part of Metro Manila, particulary in Alabang, Muntinlupa City, and toward the north in Bulacan.

His message for those who have concerns about their back and spine: “I know a lot of people who are scared to go to a chiropractor.

I suggest they should find a good, licensed [one] in their area with an extensive training.”

Lastly, on getting an “alignment” from a chiropractor: “Experience it, try it and see that it works!”

Envoys& BusinessMirror

E2 Thursday, May 2, 2019

HEALTH CARE IN FOCUS

Cyborg-type robots to aid Filipinos with limb disabilities

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ERSONS with limb disabilities due to severe damage in their nervous and muscular systems can now stand or walk again with the Hybrid-Assistive Limb (HAL), the first cyborg-type robot which provides support and improves bodily functions of the wearer.

CYBERDYNE CEO and Hybrid-Assistive Limb (HAL) inventor Dr. Yoshiyuki Sankai (left) says the technology has long been used in Japan, as he is looking forward to see many Filipinos benefit from his invention. PNA/GIL CALINGA

“Severe accidents and diseases can cause lower limb disabilities. In those cases, the brain cannot use ordinary neural pathways and cannot order the legs to move,” said Cyberdyne CEO and HAL inventor Dr. Yoshiyuki Sankai in a press briefing in Manila.

Sankai explained that HAL is used in the medical field to teach the patients’ brains to move their legs in accordance with their intention to carry out the movement.

Such technology has long been used in Japan, he said, and is looking forward to see many Filipinos benefit from his invention.

“We want to strengthen our relationship with the Philippines in the medical aspect, and the Philippines is the perfect venue [to] spread of this technology all throughout Asia.”

Life 1 Corp. CEO Dr. Albert Zarate also pointed out during the press briefing that victims of stroke and other cardiovascular diseases could also benefit from HAL: “Cardiovascular diseases [are among the] top 3 leading causes of death in the country.

We’ve seen a lot of rehabilitation programs related to them, and this technology created

by Cyberdyne is actually given to patients with these diseases. It is with great honor that we’re bringing it [here],” he said.

Life 1 Corp. is the local partner of the HAL and Cyberdyne technology.

Zarate added people who have been bedridden for a long time could also benefit from the said technology as long as they are conscious.

“Per session, the ideal time is between 60 to 90 minutes. As a doctor, I’m happy with the improvement I see among the 17 patients who have received the treatment,” he said.

Citing that HAL and the Cyberdyne technology are not exclusive for the rich, the Filipino doctor said he plans to collaborate with the government to make them available in private and public hospitals nationwide.

“If we have government support, we can make this assistive technology more affordable and accessible to all Filipinos,” he said, then clarified that his company is not selling the machine.

Zarate revealed that the HALs are offered to hospitals and individuals on a “rental basis.” Ma. Teresa Montemayor/PNA

WHO urges countries to invest on primary health care

WHO Western Pacific Regional Director Takeshi Kasai (left) calls on leaders in the region to take strong action by investing in primary health care. PNA/MA. TERESA MONTEMAYOR

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HE World Health Organization (WHO) has urged countries in Asia and the Pacific to invest more on primary health-care services as it celebrated the recent World Health Day. In a press briefing at their headquarters in Manila, WHO Regional Director for the Western Pacific Takeshi Kasai emphasized that health is a human right and to enjoy it, “no one should have to decide between their mother’s medicine and their child’s education.”

“You need not be a rich country in order to provide primary health care to everyone. This World Health Day, I want to emphasize it is a very wise investment for health. Unfortunately, there’s not much investment on it in the past.” Kasai said.

“Now we want to appeal; we want to change that.”

The regional director explained that primary health care is not only about treating people’s diseases. It includes a range of services throughout life: from health promotion to screening for health problems, vaccines and information on disease prevention, family planning, treatment for long, as well as short-term conditions, rehabilitation and palliative care, as well as treatment for common ailments.

Through primary health-care services, Kasai said noncommunicable diseases (NCDs), such as diabetes, cancer and heart disease could decrease in number.

“We need strong primary health care so we can detect, screen and treat people at the community level, as well as provide informa-

tion and advice to communities to prevent and manage these diseases.

We need to act now to address the health challenges of the future, as NCDs will be devastating for people and governments unless we invest today in primary health care,” he explained.

Kasai added that investing in primary health care is key to the economic development of any country.

“Healthier people miss work less and contribute more to national prosperity. They are also able to improve prospects for their families.

Robust primary health-care systems are the fairest, most affordable way to meet the health challenges we face today,” Kasai said.

WHO Countr y Rep. Gundo Weiler, who was also in the press briefing, said the Universal Health Care (UHC) law is the Philippines’s best chance to put the whole nation on the right track in the midst of economic and health challenges, ensuring that more Filipinos can get access to primary health-care services.

“UHC is a sign of political will from all sides of the parliament, [which says] that health is the masterpiece of socioeconomic development in the Philippines. The next steps would actually be to grow further the investments through the contributions from those who are able, [as well as] taxes on alcohol and tobacco. We are one with the Health Department in the drafting of the implementing rules and regulations, and in this whole journey,” he added. Ma. Teresa Montemayor/PNA

Japan grants mobile clinic to Zamboanga City

OFFICIALS from the Embassy of Japan and Zamboanga City Medical Center grace the turnover rites of the mobile clinic donated to the said hospital.

M

INISTER for Economic Affairs Makoto Iyori, Consul General Yoshiaki Miwa and Second Secretary Atsushi Kobayashi of the Embassy of Japan attended the turnover of a mobile clinic for the Zamboanga City Medical Center (ZCMC) on April 25.

The project was approved in 2016 and is part of Japan’s official development assistance (ODA) through the Grant Assistance for Grassroots Human Security Projects (GGP). ZCMC Chief Dr. Nida Casco Tan and the Department of Health-Region 9’s Assistant Regional Director Joshua Brillantes also graced the ceremony.

Many underprivileged residents living in the rural barangays of Zamboanga City lack access to proper medical services. Due to insufficient financial resources and distance from service providers, these residents opt to self-medicate and seek nonscientific alternative medicines instead.

In addition, the armed and violent conflicts between the Armed Forces of

the Philippines and the Moro National Liberation Front in 2013 have caused more than 15,000 individuals to be classified as internally displaced persons who sought refuge within the city. These situations led the ZCMC to propose a mobile clinic to address the concerns of the IDPs and the underprivileged communities.

In line with the Japan-Bangsamoro Initiatives for Reconstruction and Development (J-BIRD) and through the GGP, the embassy provided assistance to the ZCMC with a grant of $92,857, or approximately P3.9 million. It covered the procurement of the mobile clinic with an x-ray machine.

The facility aims to provide improved access to medical services not only to the IDPs still based in the city, but also across 13 rural barangays, with an estimate of 1,900 residents to be served.

The government of Japan, as the top ODA donor for the Philippines, launched the GGP in the Philippines in 1989 to

reduce poverty and help communities engaged in grassroots activities. At present, it has implemented 543 projects.

Japan believes that these undertakings will not only strengthen the friendship between its peoples and those of the Philippines, but also contribute in sustaining the strategic partnership between the two countries.

Since 2006 Japan has been intensively implementing the GGP and other ODA projects for conflict-affected areas in Mindanao under J-BIRD, with a total amount of more than $200 million.

Furthermore, during former President Benigno S. Aquino’s state visit to Japan in June 2015, Japanese Prime Minister Shinzo Abe expressed at their meeting his support to the efforts by the government of the Philippines in securing enduring peace in Mindanao. The latter stated that his government will promote J-BIRD II, in view of the establishment of a new autonomous political entity.

&Expats

envoys.expats.bm@gmail.com | Thursday, May 2, 2019 E3

THE FILIPINO EXPAT

Filipinos in Kuwait exercise right of suffrage, display solidarity in strengthening PHL democracy

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HE Philippine Embassy in Kuwait announced that a week after the Overseas Absentee Voting (OAV) started on April 13, it has received more than 3,300 votes.

It said the high voter turnout is a sign that the patriotic side of Filipinos in Kuwait has been awakened, with their eagerness to participate in this electoral exercise apparent as some of them rushed to the embassy as early as 6 a.m. to cast their votes.

The embassy’s Commission on Electionsdeputized personnel constantly encouraged the voters to inform their relatives and friends to visit the embassy to exercise their right of suffrage.

Before the start of the OAV exercise, Foreign Affairs Secretary Teodoro L. Locsin Jr. made an appeal to overseas Filipinos around the world in a video statement: “The aim of overseas voting is to return the electoral power to those who give sweat and tears for the security of their families and the progress of our nation. We need more of you to vote.”

Locsin was the principal author of the Overseas Voting Act and also its chief proponent in Congress.

To reach out to a larger member of Filipinos in Kuwait, the embassy tapped members of mainstream media as well as bloggers and vloggers to support its omnimedia campaign.

The embassy’s Chargé d’ Affaires, a.i.

Mohd. Noordin Pendosina N. Lomondot appealed to fellow kababayans to exercise their right of suffrage. “Their enthusiasm... is a good sign.This shows the patriotism of Filipinos here in Kuwait, that despite being miles away from our country, they still want to have a voice and reshape the political landscape of the Philippines.”

Throughout cyberspace and various social-networking pages, the embassy continues to carry the battle cry and slogan throughout this election period: “Let’s strengthen our democracy. It’s our right and duty. Let’s all vote!”

It will be open for overseas voting everyday until May 12 from 8 a.m. to 5 p.m., and on May 13 from 8 a.m. to 1 p.m. DFA

SCENES at the Philippine Embassy in the State of Kuwait during the period of the Overseas Absentee Voting

OFWs in Cambodia access government services

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HNOM PENH—Filipinos working and residing in Cambodia flocked in record-breaking numbers to the Philippine Embassy as they availed of frontline government services at the 10th Multi-Agency Service Mission (MASM) held on April 6 and 7.

In the biggest-ever staging of the onestop shop event, the embassy announced that almost 800 Filipinos were provided services ranging from the processing of overseas employment certificates (OEC), Overseas Workers Welfare Administration (OWWA) membership registration and renewal, the issuance and renewal of National Bureau of Investigation (NBI) clearance as well as driver’s license courtesy of the Land Transportation Office (LTO), the application for a Development Bank of the Philippines (DBP) savings account and also for housing and multi-purpose loans (including the Modified Pag-IBIG II [MP2]), PhilHealth membership updating and registration, and consultation services on civil-registry concerns.

Representatives from eight government agencies, namely the Department of Labor and Employment’s Philippine Overseas Employment Administration (POEA) and OWWA, LTO, NBI, Philippine Statistics Authority (PSA), PhilHealth, Home Development Mutual Fund (Pag-IBIG Fund) and the DBP participated in the biannual event initiated by the embassy since 2013.

The consular section was also open during the weekend to process passport renewals, issue and renew embassy identification cards, process civil-registry records, as well as perform notarial services.

Filipino community members hailed the conduct of the one-stopshop MASM as it enabled them to avail of on-site document processing and

OVERSEAS Filipino workers queue to register and renew their Overseas Workers Welfare Administration membership and process their Balik Manggagawa-Overseas Employment Certificates. PHNOM PENH PE

AMBASSADOR Christopher B. Montero (right) renews his Philippine driver’s license. PHNOM PENH PE

services from various agencies, which would have taken them several days to complete if done in the Philippines.

“The embassy continues to exert all efforts in responding to the needs of the growing number of Filipinos in Cambodia. From four government agencies in 2013, we now have eight. And because of the clamor from our kababayans, we invited the LTO to come and provide their services in Cambodia

this year,” Ambassador to Cambodia Christopher B. Montero said. The embassy schedules the conduct of the MASM prior to a long holiday in Cambodia when most OFWs go home to the Philippines for vacation. Instead of transacting business directly with frontline government offices in Manila or in the provinces, OFWs are able to spend more quality time with their respective families during their holidays in the Philippines. DFA

Jeddah-based chefs give Pinoy workers 2nd career option

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EDDAH—More than 30 overseas Filipino workers (OFWs) with regular day jobs received their certificates as newly minted chefs and bakers after undergoing six sessions of intensive training in culinary arts and baking from the International Center for Culinary Arts and Hospitality Management (ICCAHM).

The awarding of certificates took place on March 29 during the 7th commencement exercises of ICCAHM, the premier Filipino chefs group in Jeddah.

Consul General to Jeddah Edgar B. Badajos, who attended the ceremony, commended ICCAHM and its President and Founding Chairman Roger Cabacang for giving OFWs in Jeddah a second career option when they finally return to the Philippines.

“By making the course available to any OFW with a passion for cooking, ICCAHM is, in a way, complementing our government’s reintegration program for returning OFWs,” Badajos said.

The consul general also expressed admiration for ICCAHM’s objectives and noted that “you are giving our fellow Filipinos not only abilities in aspects of the culinary arts, but also widening their doors to opportunities in the Philippines for those who wish to open their own bakeries and restaurants when they go back to the country for good.”

The evening concluded with a wide variety of different dishes ICCAHM’s graduating class prepared themselves. DFA

JEDDAH Consul General Edgar Badajos congratulates the new Filipino culinary professionals in the Saudi Arabia city. JEDDAH PCG

Envoys&Expats BusinessMirror

E4 Thursday, May 2, 2019

www.businessmirror.com.ph

EMBASSIES, EVENTS, ETC.

M.O.A. SIGNING News and Information Bureau Director Virginia Arcilla-Agtay (left), on MUTUAL DEFENSE COMMITMENT US Ambassador Sung Y. Kim attends the opening

ceremony of the Balikatan Exercises 2019 between Philippine and US military personnel in Camp Aguinaldo, Quezon City, early in April. Kim said the commitment and dedication of both Filipino and American forces in planning the annual exercises have resulted in a huge success for both countries. PNA PHOTO: JOEY O. RAZON

behalf of the Philippine News Agency (PNA), and Anadolu Agency Deputy Director Mustafa Ozkaya (right), sign a memorandum of agreement at the PNA Newsroom inside the Philippine Information Agency Building in Quezon City on April 22. The agreement, which aims to improve the cooperation between the Philippines and Turkey, entitles both news agencies to use and transmit to their subscribers news in English, as well as photos and videos. PNA PHOTO: JESS M. ESCAROS JR.

BOOSTING TRADE TIES Indonesian company Mayora Group’s President Andre Atmadja

(third from left) presents an investment plan to Trade Secretary Ramon M. Lopez (third from right) on the establishment of a coffee-manufacturing plant in Malvar, Batangas. The project is stipulated in a memorandum of understanding between Mayora and local real-estate firm Lima Land Inc. Indonesia’s Ambassador to the Philippines Sinio Hari Sarundajang (from left), Minister of Trade Enggartiasto Lukita, Agriculture Secretary Emmanuel F. Piñol and Lima Land Inc. First Vice President Rafael de Mesa witnessed the signing. PNA PHOTO: JESS M. ESCAROS JR.

A week of Mexican gastronomy in Manila LA VOZ DE MÉXICO

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Amb. Gerardo Lozano

T is a great pleasure to be back in the pages of the BusinessMirror to inform all its readers and the Filipino people about an exciting project that our embassy “whipped up” for the celebration of Cinco de Mayo.

We will be staging the “Flavors of Mexico: Gastronomic Week in Manila,” with the main objective of promoting our national gastronomy. The global celebration of “Flavors…” was declared by the Unesco in 2010 as an intangible world heritage.

Moreover, it is with enthusiasm that I announce the participation of a special guest, Chef Jose Carlos Redon—one of the most iconic Mexican specialists in organic and ancestral traditional cuisine of my country.

Through his organic farm “Teotlacualli,” Chef Redon finds himself at the forefront of Mexico’s gastro-

nomic industry efforts in bringing back interesting elements and edible vegetation from the Mexican vails to the table as a way to highlight the rich indigenous heritage in its gastronomy.

Today, Chef Redon is in the Philippines for his first presentation in Asia with “Flavors...” in Manila. In this regard, I encourage you to not miss the unique opportunity to savor and taste the bursting flavors of Mexico, as created by the chef’s Mexican menu from May 2 to 5 at the Spectrum in Makati City.

The forecast for his presentation is promising, as the booming presence of Mexican restaurants

World Press Freedom Day calls for courage, responsibility among media practitioners

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HE embassies of the United Kingdom and Canada jointly spearheaded the commemoration of World Press Freedom Day at the Ateneo de Manila University with a forum, which featured top journalists in the country who are at the forefront of today’s news.

Broadcast journalist Karen Davila moderated a forum which delved deep into the concerns and challenges facing today’s media practitioners vis-à-vis the government’s current stance on their profession.

Ambassador of Canada John Holmes commented, “Journalists are frontliners in the battle for truth,” while British envoy Daniel Pruce took note of the palpable tension between the government and the local press professional.

Pruce introduced acclaimed British photojournalist Stefan Rousseau, who has covered important events in the world for more than 30 years. The latter staged an exhibit of his most remarkable photos,

all over the Philippines, particularly noticeable in Metro Manila, represents a clear sign of the interest that the Filipino palate finds in Mexico’s cuisine.

It is not a matter of surprise, considering our countries have a shared history that goes back 450 years, through which strong ties and a deep cultural affinity developed.

Day by day, it is more common to see Filipino restaurateurs trying to include more authentic methods, techniques and ingredients on its Mexican menus, taking our country’s food scene in Manila to another level, while presenting fusions with other rich Asian cuisines like Filipino, Japanese, Korean and Chinese gastronomies.

that the iconic Filipino pineapple is not originally from the Philippines, but from Mexico?

Even more examples of Mexican products that maintained its nahuatl name (the language of the Aztecs) in Tagalog is obvious: achuete, and vegetables like kalabasa and mais.

After this introduction, we hope the reader will appreciate that knowing about Mexican gastronomy—its ingredients and techniques—is also, in a way, learning more about the Philippines and its foods. It is, without question, another area in which Mexicans and Filipinos can see through each other in themselves, as close friends with a common past.

What’s in a name?

EVEN while writing this column, dear reader, as I am getting hungry with all the mention of food and gastronomic delights above, I wish to avail myself of this opportunity to express my gratitude to Cemex Holdings Phils. for its kind support and sponsorship of “Flavors…”

Furthermore, the embassy congratulates Cemex for its successful groundbreaking ceremony of the Solid New Cement Line on April 25.

May the expansion of the investment of this Mexican company in the Philippines serve as an example of the true potential for the mutual trade and economic development that our countries can achieve by working together for the well-being of our people.

Muchas gracias!

THE blend of Filipino and Mexican dishes deserves a special mention.

The contributions that the Philippines has made to our cuisine, and vice versa, are worth highlighting.

Thanks to the Acapulco-Manila Galleon exchange, Mexico’s gastronomy was influenced by Asian cooking techniques and ingredients such as cinnamon, coconut oils and rice.

On the other hand, Filipinos have even adopted Mexican plates like adobo, menudo, chicharron, Ilocos’s and Cavite’s chicken pipian and champorado, among others.

Curiously enough, did you know that the most popular variety of mango in Mexico is called “Mango Manila?” Further, are you aware

Emirates unveils Expo 2020 Dubai pavilion

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REMIER partner and Expo 2020 Dubai official airline Emirates has unveiled the design and visitor experience concepts of its ultramodern pavilion for the six-month mega-event.

The Emirates Pavilion’s design and visitor experience will utilize interactive technologies and design-thinking focusing on the future of commercial aviation.

Emirates Airline and Group Chairman and Chief Executive Sheikh Ahmed bin Saeed Al Maktoum said: “We are incredibly proud to unveil the

BRITISH photojournalist Stefan Rousseau

which captured world leaders and personalities.

Photojournalists’ Center of the Philippines’s Fernando “Jun” Sepe Jr. also introduced the prints of his peers, which documented mostly the struggles of Philippine society in recent years.

According to Pruce, “This campaign is not antigovernment, it is not antibusiness, it is not [against] any single individual or political party. It is pro-media freedom.”

Bilateral investments

first details of the Emirates Pavilion today, which celebrates the themes of Expo 2020 Dubai. The aim for our pavilion is very much in line with that of the [expo]: to stimulate connections, create experiences and foster creativity and innovation, inspiring a commitment for a better future. The forward-thinking experiences will highlight the best that is yet to come in aviation, and will be a platform to showcase how important mobility is for the world today and in the future.”

“Emirates and the wider transportation eco-

system here in the United Arab Emirates (UAE) will play a key role in providing connectivity for a successful Expo 2020, and the economic impact of the transport, hospitality and tourism sector will contribute AED 16.4 billion to the UAE economy, underscoring the vital role these industries play in generating economic value by bringing people together and breaking down barriers.”

The 3,300 square-meter, three-storey multifunction structure will be located near the UAE Pavilion and within walking distance of the Al

Wasl Pavilion, the center of the expo. It will have the capacity to welcome more than 56,000 visitors per month during the event.

The Emirates Pavilion will offer a glimpse into the changing world of commercial aviation and will help drive the discussion around the power of mobility and its advancements both in the air and on the ground, which ultimately enables the physical connectivity for people and products to move across the globe in a modern, efficient and environmentally sustainable way.

Czech classical guitarist to serenade Filipinos this May

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HIS May, the Philippines will hear for the first time the serenade of renowned Czech guitarist and composer Lukáš Sommer as he brings to the country his music and artistry.

Displaying an innovative style of classical guitar combined with the philosophy of yoga and meditation, the Czech Embassy in Manila is proud to bring in the country one of the Czech Republic’s leading personalities in the generation of young musicians.

The Philippine tour will commence with a free concert open to the public on May 6 where he will be

playing at the National Museum of Natural History his 11 original compositions highlighting his genius style in music. Following this is a performance at the Euro-Pinoy concert organized jointly by the EU Delegation, EU embassies and cultural institutions at The Ruins, Poblacion in Makati City on May 7.

Thereafter, Sommer will have a performance on May 8 at the Palm Grove Rockwell Center Makati. The Philippine tour will culminate with a concert at Room Gallery in Puerto Galera on May 10, where Sommer will open the exhibition “Merge” of Filipino artists

as well as glass sculptures of Czech artist Jiří Pačinek.

Aside from these performances, Sommer will also be conducting master classes at the University of the Philippines-Diliman College of Music and at the International School of Manila on May 6 and 8.

Apart from composing music, Sommer is also a sought-after arranger of popular cuts in the film soundtracks of Ondrej Soukup, Michael Kocáb, Oh Yoon Suna and Johnny Mayer. The guitarist has worked with variety of Czech and international agencies.

LUKÁŠ SOMMER