ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year
BusinessMirror
www.businessmirror.com.ph
A broader look at today’s business n
Sunday, May 17, 2020 Vol. 15 No. 220
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)
DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
PHILIPPINE STATISTICS AUTHORITY
DATA CHAMPION
P25.00 nationwide | 2 sections 12 pages | 7 DAYS A WEEK
The Green ‘Antidote’ Soldiers set aside guns in favor of plows to hike farm production in time of Covid-19
T
By Rene Acosta
HE leadership of the 140,000-strong Armed Forces of the Philippines (AFP) has directed troops to intensify the war against an enemy that may yet to prove to be a lot more sinister than insurgents of all shades and colors, terrorists of all types of warped grievances, jihadists—an invisible lethal virus.
For soldiers of the Southern Tagalog region, the war, however, goes beyond the regular run-ofthe-mill mission of carrying a gun and firing the big artillery, or even wearing a face mask and the prescribed fatigue uniform while manning a quarantine checkpoint. It involves the timeless and fulfilling vocation of tilling the land. Maj. Gen. Arnulfo Marcelo Burgos Jr., commander of the Army’s 2nd Infantry Division (ID), said the project to cultivate vegetables and fruit-bearing trees as well as engage in the art and science of animal husbandry would ensure Filipinos of food sufficiency during and even beyond the period of the enforced community quarantine
amid the Covid-19 outbreak.
Guns for plows
WITH the mission spelled out in clear terms, Burgos and his men temporarily traded off their guns for pickaxes, bars and other farming tools and implements and began working last month, initially on a two-hectare proposed vegetable plot within the 2nd ID’s compound in Tanay, Rizal. The soldiers even took a crack course in the scientific method of crop production and raising livestock, where they gained more skills and knowledge in the nittygritty of agriculture farming. They learned the proper way of planting and growing various
NOLCOM spokesman Maj. Ericson Bulosan: “To be part of the solution, the Northern Luzon Command is engaging in farming, even if this is not the line of soldiers.”
crops, and were given hands-on training on the scientific method of caring, raising and mass producing poultry, goat, rabbit and other livestock, including sheep. Burgos said the innate ability of rabbits to quickly thrive and multiply could ensure an adequate
supply of meat for Filipinos, especially in times of crisis. The commander of military forces in Southern Tagalog pushed the idea of farming as Filipinos affected by the community quarantine, especially in Luzon, require greater access to and supply of farm products. “The idle lands of vast military reservations which are to be developed will be put to good use,” he said, adding that the project would also allow the soldiers to contribute in ensuring food security. The farming project turned out to be a precedent for other military camps which soon began duplicating the initiative of the senior Continued on A2
Virus drives deeper rift between EU’s rich North and poor South By Alberto Brambilla, Stefan Nicola, Alessandro Speciale & Catherine Bosley | Bloomberg News
T
HE coronavirus is threatening to turn the long-lasting fault line cleaving Europe between its richer north and poorer south into an economic chasm putting its currency at risk.
In Rome, some churches are now food banks, charity boxes crop up in city squares and the 15thcentury hotel where philosopher Jean-Paul Sartre once stayed is giving away its mattresses from a pile by the entrance. Paolo Stella, a 57-year-old barber, says he’d rather burn his shop down than reopen in the current conditions, with the Italian government dithering over a €55-billion ($60 billion) stimulus package adding to the problems. Five hundred miles north near the German city of Stuttgart, 63-year-old entrepreneur Ernst Prost has rejected state aid despite
a 25-percent hit to sales of his high-grade motor oils. Instead of letting people go, he dipped into his company’s cash reserves to pay nearly 1,000 employees a bonus of €1,500 with the conviction it would help his firm emerge stronger from the crisis. The diverging fortunes of the two halves of the monetary union are reviving the age-old question of whether Italy can stick with the currency. The euro was supposed to elevate living standards across the board. But the South fears it’s being left behind. “It’s a really dangerous moment,” said Jana Puglierin, head of
PESO EXCHANGE RATES n US 50.3720
A CYCLIST wearing a protective face mask passes a construction site near the Colosseum in Rome, Italy, May 4, 2020. With Italy still in the throes of Europe’s deadliest coronavirus outbreak, more than 4 million people are cleared to return to work on Monday. ALESSIA PIERDOMENICO/BLOOMBERG
the Berlin office of the European Council on Foreign Relations. Italy, Spain and even France, to an extent, were still recovering from the sovereign debt crisis when the coronavirus swept in, public finances strained by multiple bank bailouts and repeated recessions, their health-care systems frayed by years of austerity. The German-dominated north has had more success in containing infections and more fiscal firepower to ride out the economic pain. Chancellor Angela Merkel has vastly outspent her allies in the European Union with stimulus equal to around 4.5 percent of GDP. Germany, which in the end agreed to bail out Greece when push came to shove, is now under pressure to ditch its red lines again to ensure the EU holds together. For Prost, a businessman, the answer should be straightforward. “We can’t just sit by and watch Italy and Spain go to the dogs,” he said in an interview. “That can’t be in the interest of the European idea.” German GDP will be less than Continued on A2
n JAPAN 0.4698 n UK 61.6251 n HK 6.4981 n CHINA 7.1006 n SINGAPORE 35.3985 n AUSTRALIA 32.5554 n EU 54.4471 n SAUDI ARABIA 13.4129
Source: BSP (May 15, 2020)