BusinessMirror May 22, 2024

PENTAGON COMMITS TO CONTINUOUS WEAPONS SUPPORT FOR UKRAINE AMIDST RUSSIAN ASSAULT

ROAD projects, defense modernization projects of the Department of National Defense (DND), and support for local government units (LGUs) boosted the government’s infrastructure spending in the first three months of the year, according to the Department of Budget and Management (DBM).

Based on the latest data, DBM said the government’s infrastructure and other capital outlays amounted to P216.8 billion, P20.1 billion or 10.2 percent more compared to the P196.7 billion posted in the same period last year.

In March 2024, the DBM data showed infrastructure and other

capital outlays rose to P96.3 billion, P12.6 billion or 15.1 percent higher than the P83.7 billion posted in March 2023.

“The sharp increase was largely due to the strong spending performance of the DPWH for payment of progress billings [i.e., completed/ partially-completed works] for various road infrastructure programs [e.g., road and bridge networks, flood control/mitigation structures, right-of-way acquisition], alongside payment of mobilization fees/advances to contractors for infrastructure projects under the FY 2024 budget,” DBM said in its report.

The DBM said the overall

infrastructure disbursements, which include infrastructure components of subsidy/equity to government corporations and transfers to LGUs, reached P266.3 billion. This was P22.5 billion or 9.3 percent higher than the P243.7 billion posted in March 2023.

“The sturdy growth of the total infrastructure spending resulted mainly from the implementation of road infrastructure projects of the DPWH and defense modernization projects of the DND, alongside the higher local development fund of LGUs—equivalent to 20 percent of their NTA [National Tax Allotment] shares,” DBM said.

The agency said this helped

boost public construction in the first quarter 2024 economic performance, where general government-led construction grew by 12.4 percent.

It contributed 2.9 percentage points to the 6.8-percent growth of the construction sector, and nearly 0.4 percentage point to the overall 5.7 percent real GDP growth.

In the first three months of 2024, Government Final Consumption Expenditure (GFCE) grew 1.7 percent. This was slower than the 3.8 percent posted in the same quarter in 2023 but faster than the 1 percent contraction in the fourth quarter of last year.

Cai U. Ordinario

TRADE GAP, DEBT WIDEN

APRIL BOP DEFICIT–BSP

By Cai U. Ordinario

DEBT payments led to a wider Balance of Payments (BOP) deficit in April 2024, according to the Bangko Sentral ng Pilipinas (BSP).

The BSP said the BOP deficit widened by 331.76 percent to $639 million in April 2024 from the $148-million deficit in April 2023.

This led to a reversal in the January to April 2024 performance to a BOP deficit of $401 million from a $3.3-billion surplus in the same period last year.

“The BOP deficit in April 2024 reflected outflows arising mainly from the National Government’s [NG] net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations and pay for its various expenditures,” BSP said.

In the January to April 2024 performance, the BSP noted that another contributing factor was the country’s trade in goods deficit.

Based on the preliminary data from the Philippine Statistics Authority’s (PSA) International Merchandise Trade Statistics (IMTS), the trade deficit for January-March 2024 reached $11.2 billion, down from the $14.5 billion deficit posted in January-March 2023.

“Based on preliminary data, this cumulative

By Andrea E. San Juan @andreasanjuan

INDO-PACIFIC Economic Framework (IPEF) countries are in talks to assist the Philippines in adding more value for processing nickel ores, according to an official of the Department of Trade and Industry (DTI).

“So there is an ongoing discussion among the IPEF countries to try to add more value for processing this further but in a green way and this is very important,” Trade Undersecretary Ceferino Rodolfo said

PHARMA DRAMA Atty. Joseph Vincent Go, representing BellKenz Pharmaceutical, files a cyber-libel case against Dr. Tony Leachon at the National Bureau of Investigation Cybercrime Division in Quezon City on Tuesday, May 21, 2024. The case alleges that Dr. Leachon spread malicious accusations against the pharmaceutical company, involving an alleged multilevel marketing (MLM) scheme in the medical industry. The allegation that the MLM scheme is corrupting doctors and hurting patients is part of a Senate investigation. NONOY LACZA

during the US Indo-Pacific Business Forum.

Rodolfo said this when he underscored that 70 to 80 percent of the nickel ore that the Philippines mines are exported in raw, unprocessed form to a “big country” that is dominant when it comes to batteries.

“And that particular country is dependent on our nickel ore,” Rodolfo noted, adding that about 89 percent of the volume of nickel ore that the said country imports comes from the Philippines.

See “IPEF,” A

TBy Ada Pelonia @adapelonia

HE agricultural damage caused by the El Niño phenomenon has climbed to P9.5 billion, according to the Department of Agriculture (DA).

In its latest report, the DA said the volume of production losses reached 426,798 metric tons (MT). Palay sustained the most damage at 185,561 MT; corn, 180,807 MT; and 48,949 MT for high-value crops.

Agriculture Assistant Secretary and Spokesperson Arnel De Mesa said the production losses are equivalent to P4.6 billion for

rice, P3.1 billion for corn, and P1.6 billion for high-value crops.

“Actually malaki ang inakyat nito from the last bulletin kasi ang last bulletin P6.3 billion so ito na siguro yung mga huling papasok na report. [Actually, the increase is higher from the previous bulletin which recorded P6.3 billion. This is probably the last incoming report],” De Mesa told reporters on Tuesday. According to de Mesa, Mimaropa remained the most affected region, with damage reaching P2.6 billion; Cagayan Valley, P2.1 billion; and Western Visayas, P1.7 billion.

See “El Niño,” A

‘PHL poised to be regional hub for smart manufacturing’

By Samuel P. Medenilla @sam_medenilla

WITH the country’s thriving economy and strategic location in the Indo-Pacific region, President Ferdinand R. Marcos Jr. said the Philippines is now poised to become a regional hub for smart and sustainable manufacturing and services.

The chief executive cited the country’s “economic strengths” when he urged the over 700 participants of the 6th Indo-Pacific Business Forum (IPBF) in Taguig City last Tuesday to invest in the country.

He said the Philippines is one of the top contributors of economic growth in Asia with 5.5-percent gross domestic product (GDP) last year resulting in strong inflow of foreign direct investments.

“So, we invite you to join us in this exciting journey and together let us make it happen in

the Philippines,” Marcos said.   The Marcos administration is currently prioritizing the development of the local electronics, semiconductors, and critical minerals industry to generate employment and allow the country to play a bigger role in the global supply chain.

Sustainable growth

THE President is confident the country can sustain its economic gains as it enhances its digital infrastructure, empower its micro, small, and medium enterprises (MSMEs) and continue to push

for business-friendly legislative reforms.

Some of the reforms, he said, include the Corporate Recovery and Tax Incentives for Enterprises (CREATE Act), Ease of Doing Business Act and Executive Order No. 18 on Green Lanes for Strategic Investments.

“Through these reforms, we assure you that the Philippine government is fully committed to supporting and facilitating your business endeavours in our country,” Marcos said, addressing the IBPF participants.

The government is also improving the local transportation network and supply of renewable energy to encourage more companies to expand their operations in the Philippines.

The ongoing creation of the Luzon Economic Corridor through the support of the Indo-Pacific Economic Framework (IPEF), as announced last April, is also part of the initiative, according to Marcos.

“These initiatives will enhance freight transport services, mobility, and access to key economic zones, ensuring business continuity and positioning the Philippines as a regional hub for agribusiness

BOP.

Continued from A

BOP deficit reflected mainly the NG’s repayments of its foreign loans coupled with the continued trade in goods deficit,” it added.

and logistics in the Asia-Pacific,” he said.

Strategic location

MARCOS said the country’s strategic location will allow companies with operations within its jurisdiction to access the 600-millionstrong Southeast Asian consumer market.

Likewise, he said the Philippines also has Free Trade Agreements (FTAs) and the Generalized System of Preference (GSP) allowing companies with operations within its jurisdiction to sell their goods in other countries with zero tariffs.

Among the country’s FTA is the Regional Comprehensive Economic Partnership (RCEP), and the Philippines-Japan Economic Partnership Agreement (PJEPA).

“It is important as well not just to be physically in the right location, but also to have access to other markets by way of FTAs and other tools. The Philippines is one of the best countries when it comes to all of these,” Marcos said.

He said the country will be forging more similar international collaborations and trade agreements.

“Therefore, I am confident to be able to say that the Philippines stands at a pivotal moment in its economic journey,” Marcos said.

El Niño. . .

Continued from A

The DA spokesperson also said the total affected area for rice reached 83,862 hectares (ha), of which 24,132 ha were totally damaged. However, de Mesa maintained that this was still below their projected 150,000 hectares of area that would be affected by the weather phenomenon.

The agency showed in its report that the rice production loss of 185,561 MT is equivalent to around 2.01 percent of the target production of 9.22 million MT (MMT), both for the dry cropping season this 2024. Also, the corn production loss of 180,807 MT is 4.02 percent of the 4.49 MMT target production in the same cropping season.

“Most of the corn and rice damaged are in the reproductive and maturity stages,” the DA said.

The report also revealed that the dry spell affected 163,694 ha of agricultural areas and 175,063 farmers and fishers.

The DA said it provided P9.71 billion worth of assistance for farmers and fisherfolks, among which were production support (agri-inputs, fertilizers, planting materials, pumps and engines, HDPE hose, drugs, and biologics), 616 water pumps, 847.8 kilometers of concrete irrigation canals, and ongoing conduct of cloud seeding operations.

The Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa) reported that El Niño weakened but its impacts continue. Meanwhile, the state weather bureau added that the country is moving into the wet season.

Meanwhile, BSP said the BOP position reflected a decrease in the final gross international reserves (GIR) level to $102.6 billion as of end-April 2024 from $104.1 billion as of end-March 2024.

Nonetheless, BSP explained that the GIR level in April indicates ample external liquidity as it represented 7.6 months worth of import goods and services payments as well as primary income payments.

BSP said the level of GIR ensures availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans.

BSP said the GIR in April is also about 5.8 times the country’s short-term external debt based on

IPEF.

Continued from A

Trade and Industry Secretary Alfredo E. Pascual  earlier noted that the Philippines is the only major producer of mineral ores that is still selling to the global market, particularly China.

“So, China is able to get, I think, 90 percent of our export of nickel ores, giving them a major hold on the nickel market, particularly the downstream products coming out from nickel, meaning battery precursors and batteries, themselves,” the Philippines’s trade chief said in April.

The Indo-Pacific Economic Framework (IPEF) for Prosperity is an economic framework led by the United States with 14 member countries, including the Philippines.

Rodolfo underscored the importance of positioning the Philippines in terms of green metals and the decarbonization of critical minerals.

“This is a unique opportunity for us because if you look at supply

original maturity and 3.6 times based on residual maturity.

Short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium- and long-term loans of the public and private sectors falling due within the next 12 months.

However, Rizal Commercial Banking Corporation (RCBC) Chief Economist Micheal L. Ricafort is optimistic that the BOP and GIR data will improve in the coming months.

Ricafort said this will be largely due to the proceeds of the national government’s foreign currencydenominated borrowings/debt from both commercial sources.

He noted that the country has the $2-billion ROP/global bond issuance in May 2024 and out of the total of $5 billion for 2024, that would also be added to the country’s BOP and GIR.

Ricafort also cited the steady increase in Overseas Filipino Workers remittances; net foreign direct investments; and trade growth.

chain resiliency, the Philippines is really rich in the type of nickel that we use for batteries,” the Trade official noted.

Apart from this initiative by IPEF member-countries to assist the Philippines in adding more value for processing its nickel ores, Pascual also earlier emphasized the need for the country to be part of the critical mineral agreement of Japan with the US to ensure “resiliency of supply” in countries like Japan and eventually the United States.

The Board of Investments (BOI) earlier emphasized that the country is focusing on attracting investments in nickel processing, particularly those that would produce battery precursor materials, among others, in the country’s bid to secure the No. 2 spot in the Asean region in terms of foreign direct investments (FDI).

In linking exports to industrial capacity, Rodolfo earlier said it is one of the thrusts of DTI and of the government to add value to the minerals that it is exporting in particular nickel, copper, and cobalt.

Marcos Jr. certain Senate shakeup won’t disrupt

Phis legislative agenda

RESIDENT Ferdinand R. Marcos Jr. on Tuesday said he is confident the legislative agenda of his administration will not be disrupted following the recent change in leadership in the Senate.

In a statement, the chief executive said he is confident newly elected Senate President Francis “Chiz” G. Escudero will prioritize the passage of “transformative laws” to support the goals of his administration.

“Senator Chiz steps into this role following the commendable tenure of Senator Migz Zubiri, and I am confident that under his leadership, the Senate will continue to prioritize transformative laws to achieve our shared vision for a Bagong Pilipinas [New Philippines],” Marcos said.

During his speech at the IndoPacific Business Forum (IPBF) in Taguig City on Tuesday, the President disclosed the Corporate Recovery and Tax Incentives for Enterprises  to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act is a key part of his administration’s legislative agenda.

The President said CREATE MORE will help bring in more investments in the country.

Track record

MARCOS backed Escudero’s leadership of the Senate, citing his good track-record.

“I extend my support to the new Senate President, Chiz Escudero. His legislative record and commitment to public service have distinguished him as a dedicated leader,” he said.

Escudero replaced Senator Juan Miguel “Migz” F. Zubiri, who resigned from his post as Senate President on Monday.

In a television interview, Zubiri said he lost the support from some of his fellow senators after he “failed to follow instructions” from influential individuals.  Zubiri added his heart was broken, because he felt betrayed by some peers, but expressed full support for Escudero, whose career ran parallel to his, with both starting out as young congressmen in the late nineties.

For his part, Escudero said he will maintain the independence of the Senate. Samuel P. Medenilla

“With CREATE MORE, we enhance the existing incentives by widening the range of eligible activities and providing greater flexibility in the application process. Additionally, it streamlines administrative procedures, reducing bureaucratic hurdles [and] making it easier for businesses to access these benefits,” he said.

Bamban mayor seeks senators’ forgiveness

THE embattled mayor of Bamban, Tarlac, on Tuesday night publicly sought forgiveness from a senator for not having properly answered questions during a Senate hearing.

In a television interview, Mayor Alice Guo said: “I’ll take this opportunity... humihingi po ako ng pasensya kay  Sen. [Anna Theresia] Risa Hontiveros, hindi po ako nakasagot sa kanya nang maayos... iyong  private life  ko kasi, ayokong mapag-usapan.  [I’m apologizing to Sen. Risa Hontiveros; I wasn’t able to respond to her properly... because I cannot stand having my private life talked about],” Guo told the television interviewer.

“Hindi ko nasabi ito sa Senado...Masyado pong private—hindi ko kayang sabihin na iniwan po ako ng sarili kong nanay [I wasn’t able to state this in the Senate—I couldn’t say that my own mother abandoned me],” she said.

“During the Senate hearing,  masyado po akong nablangko, hindi po ako sanay  [my mind went blank…I’m not used to it].”

Guo said she understood why people are puzzled why, despite being a public official, details of her past—her citizenship, parentage, schooling—are scanty. She explained that for her first years growing up, she was kept in her father’s farm, because she was sired by her Chinese father by the family’s maid, a Filipina. Her mother left her to her father’s family right after giving birth. She never attended formal school, but was tutored, because, she claimed, her father said the only things she needed to get by in life are to “read, to write and most important, to calculate [count].”

She insisted she is a Filipino, with “just one passport,” a Philippine passport that she acquired in her late teens.

She claimed she had never misrepresented her father’s citizenship in any Comelec form: she had always listed him down as Chinese, holding a Chinese passport. But, she stressed, it had always been her choice to be a Filipino, following her biological mother’s lineage. Despite her seeking apology to Hontiveros however, Guo has still a lot of explaining to do, the senator said.

Hontiveros earlier revealed information that some of Guo’s fellow incorporators in her company, Baofu Land Development Inc., have “criminal backgrounds.” “Ang daming  red flag  ni  Mayor Alice Guo.  Wala na ngang maayos na record sa Pilipinas, may mga koneksyon pa sa mga criminal.”

Senate investigators also wondered if “is this why she [Mayor

MAYOR Alice Guo

Guo] is able to afford her lavish lifestyle?” Guo reportedly commute in a helicopter and rides around in an expensive sportscar.

Moreover, Hontiveros also wants to know, among others: “Galing ba sa mga kriminal at pugante ang pambili niya ng  chopper at mga luxury cars?”

Hontiveros was also informed on the eve of the Senate hearing on Guo’s case, Senators were informed by authorities after the mayor landed at the center of a controversy with the raid of an illegal online gambling operation in her home turf.

“Given her connections to criminals, I welcome the DILG’s move to remove Mayor Guo’s power over the local police. Dapat wala nang access si Mayor sa ating kapulisan kung siya pala ay protektor din ng mga kriminal,” she added.

Senate investigators were also informed that in Baofu’s 2019 Securities and Exchange Commission documents, incorporators included Guo, Filipino national Rachel Joan Malonzo Carreon, Cypriot national Zhiyang Huang, Chinese national Zhang Ruijin, and Dominican national Baoying Lin.

The senators were also informed that Chinese national, Zhang Ruijin, was convicted last month for being linked to the reported “largest money laundering case in Singapore.” The Dominican national, Baoying Lin, also faces charges. According to a report by Channel News Asia, Zhang Ruijin has “$41 million in assets overseas, including shareholdings in a Philippine real estate development company.”

“Ayon mismo kay  Mayor,  tinulungan daw siya ng mga kaibigan niya para makatakbo sa eleksyon noong  2022. Itong mga kriminal at puganteng kaibigan ba ang sinasabi niya?” Hontiveros asked.“Kahit pa sabihin niyang nag -divest  na siya sa  Baofu  bago tumakbo, the fact remains: she has ties with these criminals.  Kaya ba siya tumakbong Mayor para maprotektahan niya ang mga kaibigan niya? I am looking forward to our hearing on Wednesday.  Sana naman may maalala na si  Mayor,” Hontiveros also said. Butch Fernandez

‘Slight increase in Covid cases not basis for travel restrictions’

By Claudeth Mocon-Ciriaco @claudethmc3

THE health department on Tuesday said that the slight increase in the number of Covid cases locally and the World Health Organization report that there are three now variants of the respiratory ailment that originated in China are not bases for rthe imposition of travel restriction.

The WHO earlier said that it is now monitoring three new variants—JN.1.18, KP.2 and KP.3.

“The above means that there is no evidence now that the KP.2 and KP.3 variants are causing severe to critical Covid-19, both locally and internationally. Further assessment is needed to determine transmissibility and capacity to evade immune response,” the DOH said.

The May 17, 2024WHO Covid-19 Epidemiological Update said variants KP.2 and KP.3 are

Gatchalian urges local govts to flush out illegal POGOs

By Butch Fernandez @butchfBM

ASENATOR on Tuesday urged local governments hosting Philippine Offshore Gaming Operators (POGOs) to flush out illegal establishments in their areas following the raid on an illegal hospital allegedly catering to victims of POGO-related crimes.

“The business permit or the mayor’s permit is precisely to enable local governments to monitor and keep track of

Teves’s

Tall businesses operating within their localities. The mayors should be able to clear out illegal establishments

operating in their cities and town,” said Gatchalian, himself a former mayor of Valenzuela City. The senator made the statement following a raid recently conducted by the Presidential Anti-Organized Crime Commission (PAOCC) on an illegal hospital operating at Hobbies of Asia Building, a stone’s throw away from the Senate office in Pasay City. The hospital, located amongst several restaurants, was being operated by foreign doctors and nurses not licensed to practice their profession in the country.

“POGOs are creating an underground illegal community,” he noted, emphasizing that local governments should take a more active role in monitoring establishments and ensure that they can make a clean sweep of their localities as far as illegal establishments are concerned.

application for asylum in Timor-Leste

By Joel R. San Juan @jrsanjuan1573

HE lawyer of former Negros Oriental congressman and designated terrorist Arnolfo “Arnie” Teves Jr. on Tuesday said the application for political asylum in Timor-Leste of his client is still pending.

Denying reports that Teves’s plea for political asylum has been denied by Timor-Leste, lawyer Ferdinand Topacio downplayed claims that Teves is expected to be deported soon.

“I am in constant touch with his lawyers in Timor-Leste who are on top of his legal affairs there, and as of this writing, we do not have any information on the status of the asylum request, much less that it has been denied,” Topacio said.

Teves has been detained in Dili, Timor-Leste since March after he was

arrested while playing golf at the Top Golf Driving Range and Bar.

His arrest came three weeks after the International Criminal Police Organization (Interpol) placed him on its red notice system and his was passport cancelled by a trial court in Manila.

The DOJ said Teves’s arrest was made possible through coordinated efforts of law enforcement agencies such as the Interpol in Dili, in coordination with East Timorese Police.

Topacio was reacting to a news report quoting Pamplona Mayor Janice Degamo, wife of slain Negros Oriental Gov Roel Degamo, saying that Teves’s application for political asylum has been denied and he would be deported within two days.

”Whoever is circulating the false rumors of the suppose denial of Rep. Arnolfo Teves’s request for political asylum in Timor-Leste, and his impending deportation to the Philippines in

two days, is talking through his hat or is abysmally ignorant of Timor-Leste laws,” Topacio said.

Topacio pointed out that the denial of asylum in Timor-Leste may still be subject to appeal, during which time the person requesting appeal cannot be deported.

Even when there is no appeal, Topacio explained, the deportation is not immediate and the law provides for a transitional period of 20 days.

“We have every intention to appeal. The information is thus erroneous…,” Topacio said.

Charges of murder, frustrated murder and attempted murder were filed against Teves in connection with the killing of Degamo and nine others last March 4, 2023.

Aside from the murder of Degamo, Teves and along with several other individuals have also been charged in connection with several

“Ano pa ang silbi ng  mayor’s permit o business permit  kung hindi naman namomonitor nang husto o napipigilan ng mga  local government ang mga ilegal na gawain sa kanilang mga lugar,” he said.

Also, the Department of the Interior and Local Government (DILG), which supervises local governments, should take a more active role in overseeing LGUs. “There should be a sense of urgency in terms of investigating and fact-finding by the DILG,” Gatchalian said.

The Senate is investigating the alleged links of Bamban, Tarlac Mayor Alice Guo to the operation of two POGOs, now termed Internet Gaming Licensees (IGL), in her town which were raided in March this year and February last year.

still pending

killings in Negros Oriental in 2019.

Teves was declared a fugitive from justice due to his failure to return to the country from the United States after the expiration of his travel authority on March 9, 2023.

Teves was allowed to travel to the US from February 9, 2023 to March 9, 2023 for medical purposes.

In August 2023, Teves, his brother Pryde Henry Teves and 11 other individuals were designated by the Anti-terrorism Council as terrorists belonging to the so-called Teves Terrorist Group (TTG).

The ATC took into consideration all sworn statements, CCTV footage showing Degamo’s assassination, various news footage showing the immediate arrest of the suspects, Senate inquiry in aid of legislation and other pieces of evidence gathered by various law government agencies in declaring Teves’ group as terrorists.

RP dares PROC: Allow intl inspection of Bajo de Masinloc

ASENIOR official of the National Security Council (NSC) on Tuesday challenged China to allow internationalo third-party inspectors to check on the current environmental condition of Bajo de Masinloc (Scarborough Shoal).

“In the face of China’s repeated denials, we call on China to open up Bajo de Masinloc to international inspection and we also call on thirdparty inspectors from relevant United Nations bodies or respected environmental organizations to determine the true situation therein in order to

nationwide.

the proper names of what is informally known as “FLiRT”variants. FLiRT is a nickname coined by some researchers to describe amino acid changes in the Covid-19 virus’ spike protein, specifically from phenylalanine (F) to leucine (L) at theposition 456, and from arginine (R) to threonine (T) at position 346. WHO observed that “there are currently no reported laboratory or epidemiological reports indicating any association between VOIs/VUMs and increased disease severity.”

The DOH assured that they continue to track Covid-19 case counts and newly designated variants under monitoring, in parallel with international developments.

All regions in the country remain to be at low risk for Covid-19.

The department also said that it is closely coordinating with international health authorities, and the Bureau of Quarantine is keeping watch over points of entry

As of May 12, 2024, only 11 percent (119/1,117) of dedicated Covid-19 intensive care unit beds were occupied. Only 13 percent (1,238/9,571) of dedicated Covid-19 non-ICU beds are currently being used. Severe and critical Covid-19 cases admitted in various hospitals total only 116, based on hospital reports in the DOH Data Collect application.

From May 7 to 13, 2024, 877 new Covid-19 cases were reported, with an average of 125 cases reported per day.

While there is an observed increase recently, it is small and lower than previously observed increases. Out of the new cases reported, 7 had severe or critical disease,the department said.

Five deaths were recorded, which occurred in the recent 2 weeks (April 30 to May 13).

“It is important to note that by law, doctors, their clinics, hospitals and other facilities are required to accurately and immediately report cases of Covid-19, whether tested by PCR or rapid antigen test. This will help guide public health decision-making,” the DOH said.

protect the environment,” NSC Assistant Director General and spokesman Jonathan Malaya said in a statement.

Malaya’s statement came after the Chinese Foreign Ministry denied reports of environmental degradation at Bajo de Masinloc, despite “incontrovertible proof” presented by the Philippine Coast Guard (PCG) on Monday.

“The PCG has presented clear and convincing evidence that since 2016, it has observed Chinese fishermen transporting large quantities of giant clams, sea turtles, puffer fishes, stingrays, top shells, eels, and other marine animals.

Chinese entities have been continuously engaged in large-scale harvesting of endangered species, unlawfully exploiting the vulnerable species with wild abandon,” Malaya said.

Giant clams, among others, are declared protected species under the Convention on the International Trade in Endangered Species of Wild Fauna and Flora (CITES).

Malaya also maintained that Beijing has no legal rights over Bajo de Masinloc and all of its expansive claims over the entire South China Sea have been invalidated and nulli-

fied by the 2016 Permanent Court of Arbitration ruling.

Aside from this, the arbitral ruling also noted that Chinese authorities were aware that their fishermen were harvesting endangered sea turtles, coral, and giant clams on a substantial scale in the South China Sea, using methods that inflict severe damage on the coral reef environment and had not fulfilled their obligations to stop such activities.

Exotic sea species fetch high prices in China, where they are considered aphrodisiacs or medicines to erectile disfunction. PNA

Go reaffirms solidarity with healthcare workers

SEN. Christopher Go reiterated his solidarity with healthcare workers and his firm commitment to help them follow up with concerned agencies the release of their pending Health Emergency Allowance (HEA) as the Senate Committee on Health and Demography, chaired by Go, conducted a public hearing on Monday, May 20.

The session marked the third hearing dedicated to look into the state of public health services in the country including addressing the release of the HEA for healthcare workers in accordance with the law.

“This Committee has been an avenue for healthcare workers in the previous hearings, and it will continue to be a platform for them to voice their concerns. To our healthcare workers, I am one with you in your call to release your much-deserved allowances,” he affirmed in his opening statement.

Go continues to advocate for the timely release of the HEA, a benefit he tirelessly supported to legislate through the Republic Act No. 11712 or the Public Health Emergency Benefits and Allowances Act. Go is one of the authors and co-sponsors

of the measure in the Senate. He highlighted the ongoing struggle of healthcare workers to receive what they have rightfully earned through services they already rendered during the state of public health emergency due to the COVID-19 pandemic.

“Paratikongsinasabi,silapoangherong panahonngpandemya.Pinaghirapannapo nilaito.Services rendered napoito,dapatpo ayibigaysakanilakunganopoangnararapat sakanila.Hindinasiladapatmagmakaawa parasabenepisyonaparanamanposakanila ayonsabatas,” he passionately stated.

Go also shared poignant stories from his visits to healthcare facilities nationwide, which underscored the dire situation of many healthcare workers. His recent encounter at the Philippine Nurses Association Convention, was particularly telling.

“May mga nurses na naka-alis na po ng bansa, iyong iba po’y namatay na, hindipanilanakukuha‘yungkanilangHEA. Wala ba itong katapusan? Hangga’t hindi nababayaranang HEA nilaayhindipotayo titigil,”he recounted, illustrating the critical

and ongoing need for governmental action.

During the hearing, Go also took a moment to play a video clip, where the voices of healthcare workers could be heard clamoring for their HEA, and this poignant moment served as a direct reminder to everyone present of the urgency and human impact of the administrative delays.

“Itopakinggannatinparamakaratingpo sakanila,”he urged as the room listened to the recorded pleas of the health workers chanting “HEA! HEA!” during Go’s recent engagements. The hearing also witnessed the commitment of Department of Health (DOH) Secretary Teodoro Herbosa and Department of Budget and Management (DBM) Secretary Amenah Pangandaman to prioritize the release of the HEA immediately based on their responses to the questions of Go who asked if the matter is part of their priorities.

Reflecting on President Ferdinand Marcos Jr.’s State of the Nation Address, Go reiterated the administration’s commitment for the release of the HEA to qualified health workers.

AI is around us–what

world are our children growing up in?

By Henry J. Schumacher

GIVEN this situation and understanding that our children will create the future we are going to live in, I would like to familiarize you how a number of parents wish to prepare their children for the future.

“Fear is not called for,” says one respondent. “We should embrace the new; it’s a beautiful thing.” He is confident that computers will not replace humans; instead, humans will get better with computers. “AI enhances our abilities and compensates for weaknesses.” And this is just the beginning.

However, the responding AI expert immediately follows up with his main concern: “The most important thing is: Our children need to learn how to learn.” AI is not “inherently intelligent”; it creates nothing genuinely new but is based on existing human knowledge. The high potentials of the future will be distinguished by their ability to “cleverly combine” this knowledge.

“We need to educate people who can create something new in collaboration with AI, so that the outcome is more than the sum of its parts.” Humans will remain the creators, but they will need new skills to do so.

How do you prepare children for the AI age? This question is currently preoccupying, many parents. AI can research and write texts, create summaries or presentations in more than 4,000 languages. AI can perform reproducible tasks faster and better than humans, gather and archive information. AI can code, and even create art—at least basic versions of it. Since the breakthrough of technology with ChatGPT about a year ago, the pressing question is: How can humans maintain their dominant role in the world when machines can do so much?

It is clear: Those in kindergarten today belong to the first true AI generation. But what do these children need to learn to be successful and happy in the future? Do they need completely new skills? Should human competencies be strengthened to distinguish them from AI as much as possible? Empathy instead of English? Personal development instead of physics? Mindfulness—or perhaps hard mathematics and statistics, so that technology does not dominate these fields alone?

The uncertainty is great, and no one from the pre-AI generations has a conclusive answer, not even the young business elite

who work a lot with digitalization and AI.

Even the elite boarding schools, usually reliable suppliers of career-guaranteeing education, are divided on this question.

A country like Sweden, long a digital frontrunner, has just banned tablets from classrooms, favoring books and pencils again. AI does not absolve us from basic competencies—reading, writing, arithmetic. Given the flood of information and sources, we need to filter competence to the 4 Cs: communication, collaboration, creativity, critical thinking.

An AI researcher and father of four, outlines that besides considering innovation as the most important skill, we also have to emphasize IT knowledge. If it were up to him, it would already be taught in primary school.

It is essential that children understand how AI models work and can evaluate the results.

“Otherwise, we make ourselves dependent.”

His concern is also that content production for apps like TikTok will happen much faster with AI. “The only way to survive as humanity is to activate our own education center.” He often sits down with his children to explain how algorithms determine what they like.

Another respondent sums it up clearly for herself and her two children (almost three and six): “If machines are now better at being machines, we have to be better at being human.” She emphasizes communication skills, empathetic and critical thinking, combined with problemsolving ability. At their dinner table, there is conversation and no smartphone gazing. She likes to ask her children open-ended questions so they can form opinions and tries to show them different perspectives and raise awareness of prejudices—like when the kindergarten teacher says a robot book is more for boys.

Her most important point comes from her own experiences: It takes a “positive mindset.” She teaches her children not to see failure as a defeat, but to ask: How do I react to this? How do I move on from here? “You have to play the ball from where it lies,” is her motto. “As long as haven’t given up, it’s not over.” Her goal: is to make children understand that AI “is not magic,” “no witchcraft, but a craft,” and that they can write algorithms and give instructions to machines themselves.

“When they understand that, they gain self-confidence. Then they no longer think Alexa is smarter than themselves.”

Let me close with the question: what competencies do children need additionally?

For me, emotional stability, self-confidence, and being able to adjust to a continuously changing world are on top. hope you will be able to assist your children who are growing up with AI. I would love your responses; contact me at hjschumacher59@gmail.com

We mistakenly published an old column of Mr. Schumacher in yesterday’s issue. This is the column that should have been run.

Support for extension of Meralco’s franchise snowballs in Congress

By Jovee Marie dela Cruz @joveemarie

THE House of Representatives on Tuesday recognized Meralco’s efforts to supply its customers within its franchise region with consistent and dependable electricity, but urged the power distribution giant to carry out more corporate social responsibility projects and programs.

Rep. Gus Tambunting of Parañaque, chairman of the House Committee on Legislative Franchises, for his part, said that while issues were raised, Meralco was able to respond to most of them, but there will likely be another hearing.

“They explained many things that we accept. We found them sound and reasonable, but of course there are some that would need further clarification,” Tambunting said. He, however, said the committee

is willing to schedule a special hearing while the Congress is on recess to provide an avenue for all concerns to be addressed before the lawmakers vote on the proposed bills authored by Reps. Joey Salceda, Rufus Rodriguez and Lord Allan Velasco of Albay, Cagayan de Oro and Marinduque respectively.

Meanwhile, during the hearing of the Committee on Legislative Franchises, Rep. Sergio Dagooc the nominee to the House of APEC party-list group and Rep. Presley de Jesus, the nominee of PHILRECA, expressed their support for the 25-year extension of the power distributor’s franchise. Both APEC and PHILRECA claim to represent electric consumers in the lower chamber.

Dagooc, who oversees several electric cooperatives in Mindanao, manifested that he would “vote for the approval” of Meralco’s franchise renewal, as he reiterated his position

on other issues that have been clarified by Meralco.

Similarly, de Jesus said he will join Dagooc in voting on the affirmative for the franchise renewal, adding that he recognizes that “Meralco is reliable and dependable” and has consistently delivered benefits to many Filipino consumers.

He further asked Meralco about implementing more corporate social responsibility projects and programs that would benefit consumers, to which Meralco responded in the affirmative.

Concerns on the delay of Meralco’s rate reset process were also raised during the three-hour deliberations, with the House Committee on Energy chairman, Velasco, saying “it’s up to the ERC” to act on the matter as it is the one responsible for the crafting of rules.

“We really have to look at the ERC because that’s the heart of the whole energy industry,” added Velasco.

Intl maritime body maintains Philippines on ‘white list’

By Lorenz S. Marasigan @lorenzmarasigan

THE Philippines has successfully maintained its position on the International Maritime Organization’s (IMO) “White List,” confirming the country’s commitment to high standards in maritime education, training, and certification for mariners.

In a statement, the Maritime Industry Authority (Marina) Administrator Sonia B. Malaluan said the reaffirmation underscores the Philippines’ role as a leading provider of seamen to the global maritime industry.

“Our inclusion on this list displays our unwavering commitment not only to comply with the requirements of the STCW Convention but also to continuously improve our system,” she said.

The IMO White List is a register of countries recognized for their adherence to the rigorous standards set by the IMO’s International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW). Inclusion on this list indicates that a country’s mariners are trained and certified according to these high international benchmarks.

In 2022, the Philippines underwent an independent evaluation to assess its compliance with the STCW Convention. Following this, the country submitted comprehensive information on measures taken to align with regulation I/8 paragraph 3 of the 1978 STCW Convention.

A panel of experts reviewed this submission and reported their positive findings to the IMO Secretary-General. The Secretary-General’s report was subsequently

SRA welcomes move to increase biofuel blend

By Ada Pelonia @adapelonia

THE Department of Energy’s (DOE) move to increase biofuel blend would lower the price of gasoline and diesel, the Sugar Regulatory Administration (SRA) said.

presented to the IMO Maritime Safety Committee (MSC) during its 108th session.

The MSC, after reviewing the SecretaryGeneral’s report, confirmed that the Philippines has fully met the STCW Convention’s provisions. This confirmation has led to the country’s continued inclusion in the updated IMO White List, which will be communicated to member-states through the latest revision of MSC.1/Circ. 1164.

“As one of the leading providers of seamen globally, it is incumbent upon us to ensure that our maritime workforce is wellequipped and compliant with international regulations. We thank all member-states who continue to put their trust in our seafarers and we will reciprocate this by continuing to provide you and the global shipping industry with competent and qualified seafarers,” Malaluan said.

“[This depends] on the type of ethanol plant, as some plants use sugarcane as feedstock, and some use molasses,” he said.

DOE says higher biofuel blend to slash diesel, gasoline prices

By Lenie Lectura @llectura

THE policy on higher biofuels blend will result in an estimated net savings of P4.17 per liter of diesel and P3.21 per liter of gasoline, the Department of Energy (DOE) said.

“Implementing the higher biofuels blend is a win-win solution as we promote economic growth, uphold environmental stewardship, and strive for cleaner energy utilization. It is also about investing in a future where sustainability drives progress,” Energy Secretary Raphael Lotilla said.

Under the new guidelines outlined in Department Circular 202405-0014, downstream oil industry participants are required to implement a 3 percent coco methylester (CME) blend in all diesel fuel sold nationwide, beginning October 1 this year. This percentage will gradually increase to 4 percent by October 1, 2025, and further to 5 percent by October 1, 2026.

The increase in the CME blend is expected to create additional market for coconut farmers, biodiesel producers, and other stakeholders in the coconut industry, with around 900 million additional nuts as feedstocks to produce around 100-120 million liters of additional CME requirements to satisfy a 1 percent mandatory increase in CME blend.

“This will also bring down the average price of ethanol without lowering the price of locally produced ethanol, as more imported ethanol is added to the mix,” Azcona said in a statement.

He added that it would benefit the sugarcane industry and increase demand for sugarcane and molasses.

SRA Administrator and Chief Executive Office Pablo Luis Azcona said the increase in blend would enable ethanol plants to maximize production using local feedstock.

Locally produced bioethanol uses sugarcane (mostly molasses) as feedstock, while biodiesel feedstock comes from coconut (coconut oil transesterified into coco methylester or CME).

“Following the drastic increase in the cost of fuel over the past years as a consequence of the Ukraine-Russia conflict, production cuts by the OPEC +, and global inflation, the National Biofuels Board [NBB] has determined that an increase in the bioethanol blend will reduce the pump price of diesel and gasoline fuel and help alleviate the burden of riding prices on consumers,” the circular stated.

The current diesel fuel in the country have 2 percent biodiesel blend (B2) and 10 percent blend of fuel ethanol (E10) since 2009 and 2011, respectively.

The country enacted the Biofuels Act of 2006 which ordered the use of biofuels to “mitigate toxic and greenhouse gas (GHG) emissions,” further requiring all liquid fuels for motors and engines sold in the country to have biofuel blend.

Azcona said the possible reduction of gasoline and diesel prices following the DOE circular would benefit 5 million Filipinos dependent on the sugarcane industry who use these for their farming and their daily life.

Based on a 30,000-kilometer onroad test with a higher CME blend of 5 percent, the DOE said an increase of around 10 percent in mileage corresponds to P4.17 per liter of savings for diesel.

Meanwhile, downstream oil industry participants may have the option to raise the ethanol blend in all gasoline fuel by 20 percent, from the current 10 percent, to reduce domestic pump prices. The DOE said increasing the ethanol blend to 20 percent could bring about an estimated decrease of approximately P3.21 per liter in the gasoline pump price.

To ensure a smooth and timely transition to higher biofuel blend percentages, the downstream oil industry must maintain sufficient storage capacity, blending facilities, transport systems, and dedicated storage tanks and dispensing pumps.

The Biofuels Act of 2006 mandates that all liquid fuels for motors and engines sold in the Philippines be blended with biofuels. The current ethanol blend for gasoline has remained at 10 percent since 2012, while the CME blending last increased to 2 percent in 2007.

ENERGY Secretary Raphael Lotilla

House okays Rice Tariffication Law amendments amid rising rice prices

By Jovee Marie N. Dela Cruz @joveemarie

ACTING with urgency to stem the increasing market price of rice, the House of Representatives approved on Tuesday, on its third and final reading, House Bill 10381, amending Republic Act 8178, or the Rice Tariffication Law.

Voting 231-3-1, lawmakers approved amendments to RA 8178, which include giving the National Food Authority (NFA) the temporary authority to stabilize the price and supply of rice during food security emergencies as granted by the secretary of the Department of Agriculture (DA).

Another was the authority of the NFA to oversee and ensure compliance with all grain warehouses, and it will likewise be given the task of regulating foreign investments in the rice and corn industries.

Once the measure is enacted into law, it would also extend the P15-billion Rice Competitiveness

TripAdvisor recognizes Palawan as top trending destination in the world

By Ma. Stella F. Arnaldo @akosistellaBM Special

to the BusinessMirror

PALAWAN Island made it to TripAdvisor’s Travelers’ Choice Awards this year, ranking fourth among the world’s Best of the Best trending destinations. According to the top travel guidance platform, “Palawan is a slice of heaven, a silver of an island that terms with exotic wildlife, quaint fishing villages, and Unesco World Heritage Sites. Wave hello to endangered animals at the Calauit Game Preserve and Wildlife Sanctuary or explore the Japanese shipwrecks of Coron Island, regarded as one of the best dive sites in the world. A guided boat tour of the Puerto Princesa Underground River will take your breathe away.” Palawan was tagged as being great for multi-day and extended tours, resorts, snorkeling, and to unwind. It follows after Tokyo, Seoul, and Halong Bay in Vietnam in the list of 25 trending destinations, which represent the top 1 percent of listings on TripAdvisor. The Travelers’ Choice Awards is an annual recognition of destinations, hotels, restaurants, and things to do based on reviews and ratings on its website over a 12-month period. The trending destinations are described as “from lesser-known cities to new escapes, these places are on the up and up.”

Dubai topped TripAdvisor’s Best of the Best Top Destinations in the World, while Southeast Asian destinations which made the cut for the 25 were: Bali (2), Hanoi (4), Hoi An (10), Bangkok (15), Phuket (18), and Siem Reap (21).

Favored hotels MEANWHILE, of 2,242 properties in Metro Manila, named Travelers’ Choice awardees in its top 25 list of hotels this year included: Savoy Hotel Manila, Belmont Hotel Manila, Okada Manila Resort & Casino, Seda BGC, New Coast Hotel Manila, Seda Residences Makati, City Garden Grand Hotel, Red Planet Quezon City Timog, Hotel H20, and Red Planet Cubao Aurora.

Travelers’ Choice awardees, formerly Certificate of Excellence, are businesses that consistently earn great reviews and are among the top 10 percent of listings on TripAdvisor. There may be other Travelers’ Choice awardees beyond the top 15-35 listings of properties in each destination; BusinessMirror lists only the top 10 awardee-properties.

Among 692 properties listed on Boracay, Travelers’ Choice awardees among TripAdvisor’s top 25 list of hotels include: The Lind Boracay, Movenpick Resort & Spa Boracay, Crimson Resort and Spa Boracay, Henann Garden Resort, Discovery Shores Boracay, Shangri-La Boracay, Coast Boracay, Henann Park Resort, Belmont Hotel Boracay, Feliz Hotel Boracay, and Hue Hotels and Resorts Boracay.

Cebu Island has 1,991 properties listed on the platform, Travelers’ Choice awardees among its top 35 hotels were: Dustin Thani Mactan Cebu Resort, Crimson Resort and Spa Mactan, Radisson Blu Cebu, Bluewater Sumilon Island Resort, Quest Hotel and Conference CenterCebu, Movenpick Hotel Mactan Island Cebu, Seda Ayala Center Cebu, Belmont Hotel Mactan, Seda Central Bloc Cebu, and Quo Vadis Dive Resort.

Awardees in Palawan, Bohol, Pampanga WITH 1,452 properties on Palawan listed, TripAdvisor has awarded Travelers’ Choice certificates to hotels in its top 15 list: Sunlight Eco Tourism Island Resort, Daluyon Beach and Mountain Resort, El Nido Resorts Miniloc Island, Sea Cocoon Hotel, Princesa Garden Island Resort & Spa, Cauayan Island Resort, Charlie’s El Nido, Seda Lio, Lihim Resorts El Nido, and Cadlao Resort & Restaurant. In Bohol, overall, Travelers’ Choice awards were received by Amun Ini Beach Resort & Spa, Marqis Sunrise Sunset Resort and Spa, Loboc River Resort, while on Panglao Island alone, Traveler’s Choice awardees were: Amorita Resort, The Bellevue Resort, Oceanica Resort Panglao, BE Grand Resort Bohol, Bluewater Panglao Beach Resort, Bohol Beach Club, and Modala Beach Resort among TripAdvisor’s top 20 listing. With 478 hotels in Pampanga listed on the travel guide, Travelers’ Choice awardees among the travel guide platform’s top 20 list were: Park Inn by Radisson Clark, Widus Hotel Clark, Hilton Clark Sun Valley Resort, and Clark Marriot Hote. According to the Department of Tourism, the top regional destinations in the country last year were the National Capital Region (Metro Manila) and Cebu province based on the number of overnight travelers. (See, “Top destinations Foreigners flock to Palawan, Pampanga, Boracay, Bohol,” in the BusinessMirror, April 15, 2024.)

Enhancement Fund (RCEF) for another six years, with its mechanizationcomponentexpanded to include the construction and enhancement of postharvest and processing facilities.

The fund allocation will now be divided as follows: 53.5 percent for farm mechanization, 29.7 percent for seed components, 3.3 percent for training, 6 percent for rice credit assistance, 4 percent for soil management, 2 percent for pest management, and 1.5 percent for the Rice Industry Development Project Management Office (PMO).

House Committee on Agriculture and Food Chairman Mikaela Angela Suansing, one of the bill’s authors, said an average of P29 billion annually from tariff revenues is expected.

For his part, Speaker Ferdinand Martin Romualdez said the bill amending the five-year-old RTL marked a significant stride

towards fortifying the country’s rice industry and ensuring broader access to affordable, high-quality rice for all Filipinos.

According to Romualdez, the amendment to the RTL is not merely a policy adjustment, as it represents a firm commitment to bolstering the rice sector.

It aims to address the existing law’s shortcomings, providing much-needed support to farmers and ensuring they can compete effectively in an increasingly globalized market, he said.

By refining the RTL, the speaker said the government can offer rice farmers the tools and resources necessary to thrive, thereby ensuring food security for the nation.

Meanwhile, lawmakers urged the Senate to seize the opportunity to help ease the burden on Filipinos grappling with high rice prices by passing the proposed amendments to the RTL.

Deputy Speaker David Suarez

expressed hope the Senate would act on the RTL amendment bill, which provides safety nets to stabilize rice prices and ensures the viability of the local rice industry.

With rice prices steadily increasing, Suarez emphasized the need for government intervention to curb excessive hikes.

While acknowledging concerns about corruption within the NFA, Suarez urged senators not to lose sight of the primary objective, which is ensuring food security and affordable rice prices for all Filipinos.

House Deputy Majority Leader and Tingog Party-list Rep. Jude Acidre underscored the urgent need for Senate collaboration to address the pressing issue of rising rice prices, which continues to burden Filipino households.

Acidre appealed to senators to prioritize the welfare of Filipinos by supporting and passing the RTL amendment bill.

No unregulated commodity must slip through, Recto tells pre-border team

By Cai U. Ordinario @caiordinario

THE Department of Finance (DOF) has put the Committee for Pre-border Technical Verification in charge of ensuring that “no unregulated commodity” enters the Philippine market.

This statement came on the heels of the issuance of Administrative Order (AO) No. 23 which aims to enhance the monitoring of imported commodities shipped to the Philippines.

Finance Secretary Ralph G. Recto said he expects the Committee for Pre-border Technical Verification and Cross-border Electronic Invoicing, which he chairs, to fulfill its mandate.

“I expect (the) full cooperation from the members of our newlyformed Committee and look forward to working with them closely to ensure that no unregulated commodity slips past our borders,” Recto said.

These efforts will be aided by the Pre-border Technical Verification and Cross-border Electronic Invoicing System which is expected to be fully implemented within two years.

The Order’s date of effectivity is expected 15 days after its complete publication in the Official Gazette or in a newspaper of general circulation.

“This initiative is another significant step towards achieving a fully digitalized border protection system in the country where no import goes by unnoticed and unaccounted for. This will certainly go a long way in putting an end to smuggling, misdeclaration, and undervaluation,” Recto said.

The DOF will lead the formulation of guidelines and implementing rules and regulations for the PreBorder Technical Verification of all commodities to be conducted by accredited Testing, Inspection, and Certification (TIC) Companies prior to their export to the Philippines.

TIC Companies are qualified third-party companies that have legal, financial, and technical capabilities to implement the Preborder Technical Verification and Cross-border Electronic Invoicing System for the certification of all commodities bound for the Philippines.

The accreditation of such TIC Companies shall be in accordance with the guidelines to be issued by the Committee, which shall be competitive, transparent, and in compliance with international trade standards, as well as existing laws and regulations.

The Committee shall also

formulate procedures for the procurement of a Cross-border Electronic Invoicing System, which will serve as the sole electronic platform for the creation, uploading, and storage of electronic invoices for all imports with a digital verification certificate from the TIC Companies.

The committee members include the Secretaries of the Department of Agriculture (DA); Department of Trade and Industry (DTI); Department of Energy (DOE); Department of Health (DOH); and the Department of Environment and Natural Resources (DENR).

Other members include the Department of Information and Communications Technology (DICT); the Commissioner of the Bureau of Customs (BOC); the Director General of the Philippine Drug Enforcement Agency (PDEA); and two non-voting representatives from recognized industry associations.

Number of new voters breaches 3-M mark; Garcia cites info drive

By Samuel P. Medenilla @sam_medenilla

THE number of newly registered voters finally breached the 3 million mark, according to the Commission on Elections.

As of Monday, the poll body reported a total of 3,020,999 people have participated in the ongoing voter registration. Comelec is targeting to register

3.4 million newly registered voters for the 2025 National and Local Elections (NLE).

The top three regions with the most registrants are Calabarzon with 541,724, National Capital Region with 440,857 and Central Luzon with 349,96. Meanwhile, the regions with the least number of registrants are the Cordillera Administrative Region with 39,059; Mimaropa with 75,673, and Caraga with 77,348.

No Pinoy casualty in Indonesian eruption

NO overseas Filipino worker (OFW) was hurt from the recent volcanic activity of Mount Ibu in Indonesia, according to the Department of Migrant Workers (DMW).

In a Viber message on Tuesday, DMW spokesperson Toby Nebrida said they have yet to receive any report of a Filipino casualty from the incident.

“No further reports to date. But we remain vigilant due to the heightened volcanic activity,” Nebrida said.

Mount Ibu on the island of Halmahera erupted violently on the evening of May 18, 2024.

The Migrant Workers Office in Singapore (MWO-SG) and the Philippine Consulate General in Manado City (PCG-Manado) are now closely monitoring the status of the 550 Filipinos in the affected region.

“MWO-SG will maintain regular contact with PCG-Manado and provide the DMW Head Office with updates as these develop,” DMW said in a statement.

The Indonesian state volcanology agency hoisted the highest alert level for Mount Ibu on May 16 after its multiple eruptions this month.

Samuel P. Medenilla

Senate OKs procurement law revised version

THE Senate on Tuesday approved on second and third reading in one sitting a measure amending the over two-decade old procurement law, one of priority measures agreed on between the Executive and Congress in a bid to stem corruption and improve government efficiency.

Newly installed Senate President Francis “Chiz” Escudero invited his predecessor Juan Miguel F. Zubiri to preside over the plenary session when the measure was up for approval in plenary, saying the key measure had been largely shepherded during the latter’s tenure.

Sen. Juan Edgardo Angara, resigned chairperson of the Committee on Finance, accepted amendments to Senate Bill No. (SBN) 2593 as proposed by Minority Leader Aquilino “Koko” Pimentel III, Deputy Minority Leader Risa Hontiveros, Senators Loren Legarda, Joel Villanueva Nancy Binay, Ronald “Bato” Dela Rosa, Imee Marcos and Pia Cayetano. The measure, having been certified as urgent by President Ferdinand Marcos Jr., was unanimously approved in one day, dispensing the three-day rule. Angara, who defended the measure, thanked former Senate President Juan Miguel “Migz” F. Zubiri who oversaw SBN 2593 or the New Government Procurement Act from the start until its third and final approval.

Senators earlier forged a bipartisan consensus to frontload passage of a new Government Procurement Act before Congress adjourns sine die this month.

Senate Bill 2593 or the New Government Procurement Act, was identified by the Senate President among their 20 priority bills. Zubiri said the bill seeks to “improve and modernize” the two- decade old government procurement system in the country.

Angara earlier explained his refusal to accept Sen. Jinggoy Estrada’s amendment to section 15, which provides for the engagement of a procurement agent. In the May 15 plenary session, Angara conveyed concerns that the proposed amendment will result in the delay of procurements of government agencies if a procurement agent would be limited to just one contract.

Comelec George M. Garcia attributed the high number of registrants to their aggressive information drive.

The poll chief said they will continue to intensify their information campaign to encourage more people to register and prevent possible disenfranchisement. “A vote not cast is a voice not heard. That is the guiding principle of the Commission,” Garcia said.

”Because they think, the DepEd and DOTr say, that they engage procurement agents for many contracts, so if we limit them to one contract, then, that will result in delays in some of their procurements,” Angara pointed out.

The senator said his committee accepted all of Estrada’s proposed amendments except on section 15. On the other hand, Estrada explained that his proposed amendment is a possible safeguard against another Pharmally or overpriced laptop incident. The former case referred to the overpriced procurement of pandemic-era supplies after the Department of Health lodged P40

5.

1

Salary Range: Php 500,000 and above

Basic Qualification:

6. SARICI, GIZEM Quality Lead

Brief Job Description: Ensure VIP guests’ experience meet expectation from pre-arrival until departure. With regular and close interaction with hotel guest to collect feedback and ideas.

work as assigned.

CHEIL INTEGRATED MARKETING PHILIPPINES, INC. 10th Floor Science Hub, Tower 4, Campus Ave. Mckinley Hill Cyberpark, Pinagsama, City Of Taguig

SOUNG, SAMHYEON

CHROMELAB TECHNOLOGIES INC. 25/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

18. CHUA PEI ZI Bi-lingual Speaking Customer Service Officer

Brief Job Description: Resolves product or service problems by clarifying the customer’s complaint, determines the cause of the problem, selects and explains the best solution to solve the problem.

CJ FOODS PHILIPPINES CORP. Unit 16 17th Floor

19. LEE, CHAJIN Business Development Staff Brief Job Description: Responsible for conducting market research to identify potential business opportunities and market trends.

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the following languages: English, Mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese. Salary Range: Php 30,000 - Php 59,999

Basic

41.

Brief

BusinessMirror

ZHIMING Manager

Brief Job Description: Investigate and plan the most appropriate route for shipment, taking account of the perishable or hazardous nature of goods, cost, transit time and security. Negotiate rate contracts with carries/ airlines/vendors.

54. LI, TING Operation Supervisor Brief Job Description: Supervise and train employees.

LEIGHTON CONTRACTORS (ASIA) LIMITED 12th Flr Menarco Tower, 32nd Street, Bonifacio Global City, Fort

City Of Taguig

55. BARTLETT, RICHARD LEE NICHOLAS Procurement Manager

Brief Job Description: Responsible for Procurement Planning, Contracts Management, Warehouse Management, Strategic Product Sourcing, Implementation of Control Measures and People Management.

59. BAI, KANGZHI Chinese Customer Service

Brief Job Description: Customer support and data base services.

60. CHEN, DENGBIN Chinese Customer Service

Brief Job Description: Customer support and data base services.

108. ZIN

BusinessMirror

BusinessMirror

and other various systems.

RIZAL COMMERCIAL BANKING CORPORATION Rcbc Plaza

INCORPORATED

Cor. Paseo De Roxas, San Lorenzo, City Of Makati

152. TAN YU CHIANG Chinese Speaking Marketing Specialist

Brief Job Description: Conduct market research to identify costumer trends, competitor offerings and demographic data.

TELUS INTERNATIONAL PHILIPPINES, INC. Units 23/f, 31st/f - 37th/f Discovery Centre, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig

153. MOUANDA NSEMI, CHRYSVIE FRANJUL French Operations CSR II Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customer.

Skilled in French

Range: Php 30,000 - Php 59,999 THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED - PHILIPPINE BRANCH 3058 Hsbc Center, 5th Ave. West, Fort Bonifacio, City Of Taguig

154. CHAWLA, NIDHI MSS Business Finance

Brief Job Description: Act as liaison point between the regional team in HK and the Fin Ops team in India, providing guidance and direction to the Fin Ops team and acting as first point of contact for the review of the production delivered. Support the business partnership for the APAC market and Securities Services.

TOKYO CONSULTING

May 22, 2024

NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S)

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NO.ESTABLISHMENT

1 DONG-AH GEOLOGICAL ENGINEERING CO., LTD.

Covelandia

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION QUALIFICATION AND SALARY RANGE

Unit 1, The Junction Strip Mall, Carmelray Industrial Park 1, Canlubang, City of Calamba, Laguna KANG, DAEWOONG

2 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

3 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

4 GLARION TECHNOLOGIES CORPORATION

Construction Manager

Brief Job Description:

Monitor of Compliance for Construction and Safety regulations

PHYO WAI LIN

Myanmari Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

CHU THI VIEN

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite DANG THI THEU

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

GIANG BON HUNG

5 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

6 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

7 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

8 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

9 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN KHAC MINH

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN THI HUONG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN THI MAI ANH

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN VAN PHU

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

With a minimum of (10) years of experience in railway constructions

Salary Range:

Php 60,000 - Php 89,999

Able to speak, read and write Chinese and Myanmari language

Salary Range: Php 30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php 30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php 30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php 30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php 30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php 30,000 - Php 59,999

Able to speak, read and write Chinese and Vietnamese language

Salary Range: Php

Covelandia

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

16 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

17 MERIT LEGEND SOLUTIONS INC.

AH PAUK

Myanmari

Representative

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite YAN NAING

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

• Editor: Angel R. Calso

War crimes prosecutor seeks arrest of Israeli and Hamas leaders, including PM Netanyahu

By Josef Federman The Associated Press

JERUSALEM—The chief prosecutor of the world’s top war crimes court sought arrest warrants Monday for leaders of Israel and Hamas, including Israeli Prime Minister Benjamin Netanyahu, over actions taken during their seven-month war.

While Netanyahu and his defense minister, Yoav Gallant, do not face imminent arrest, the announcement by the International Criminal Court’s chief prosecutor was a symbolic blow that deepened Israel’s isolation over the war in Gaza.

The court’s prosecutor, Karim Khan, accused Netanyahu, Gallant, and three Hamas leaders—Yehya Sinwar, Mohammed Deif and Ismail Haniyeh—of war crimes and crimes against humanity in the Gaza Strip and Israel.

Netanyahu and other Israeli leaders condemned the move as disgraceful and antisemitic. US President Joe Biden also lambasted the prosecutor and supported Israel’s right to defend itself against Hamas.

A panel of three judges will decide whether to issue the arrest warrants and allow a case to proceed. The judges typically take two months to make such decisions. Israel is not a member of the court,

so even if the arrest warrants are issued, Netanyahu and Gallant do not face any immediate risk of prosecution. But the threat of arrest could make it difficult for the Israeli leaders to travel abroad.

Netanyahu called the prosecutor’s accusations against him a “disgrace,” and an attack on the Israeli military and all of Israel. He vowed to press ahead with Israel’s war against Hamas.

Biden said the effort to arrest Netanyahu and Gallant over the war in Gaza was “outrageous,” adding “whatever this prosecutor might imply, there is no equivalence—none—between Israel and Hamas.”

Hamas also denounced the ICC prosecutor’s actions, saying the request to arrest its leaders “equates the victim with the executioner.”

Netanyahu has come under heavy pressure at home to end the war.

Thousands of Israelis have joined weekly demonstrations calling on the government to reach a deal to bring home Israeli hostages in Hamas captivity, fearing that time is running out.

In recent days, the two other members of his war Cabinet, Gallant and Benny Gantz, have threatened to resign if Netanyahu does not spell out a clear postwar vision for Gaza. But on Monday, Netanyahu received

wall-to-wall support as politicians across the spectrum condemned the ICC prosecutor’s move. They included Israel’s president, Isaac Herzog, and his two main political rivals, Gantz and opposition leader Yair Lapid. It is unclear what effect Khan’s move will have on Netanyahu’s public standing.

The possibility of an arrest warrant against Netanyahu could give him a boost as Israelis rally behind the flag. But his opponents could also blame him for bringing a diplomatic catastrophe on the country. Yuval Shany, an expert on international law at Hebrew University and the Israel Democracy Institute, a Jerusalem think

tank, said it was far more certain that Netanyahu’s already troubled international standing could be further weakened. “This is going to make Netanyahu an outcast, and his ability to move around the world will be seriously compromised,” said Shany. Even if the ICC does not issue the arrest warrant, other countries may now be more reluctant to provide support and assistance, he said.

Hamas is already considered an international terrorist group by the West. Both Sinwar and Deif are believed to be hiding in Gaza. But Haniyeh, the supreme

Continued on A

World leaders plan new agreement on AI at virtual summit co-hosted by South Korea, United Kingdom

By Hyung-Jin Kim The Associated Press

SEOUL, South Korea—World leaders are expected to adopt a new agreement on artificial intelligence when they gather virtually Tuesday to discuss AI’s potential risks but also ways to promote its benefits and innovation.

The AI Seoul Summit is a followup to November’s inaugural AI Safety Summit at Bletchley Park in the United Kingdom, where participating countries agreed to work together to contain the potentially “catastrophic” risks posed by galloping advances in AI.

The two-day meeting—cohosted by the South Korean and UK governments—also comes as major tech companies like Meta, OpenAI and Google roll out the latest versions of their AI models.

On Tuesday evening, South Korean President Yoon Suk Yeol and British Prime Minister Rishi

Sunak are to meet other world leaders, industry leaders and heads of international organizations for a virtual conference.

The online summit will be followed by an in-person meeting of digital ministers, experts and others on Wednesday, according to organizers.

“It is just six months since world leaders met at Bletchley, but even in this short space of time, the landscape of AI has changed dramatically,” Yoon and Sunak said in a joint article published in South Korea’s JoongAng Ilbo newspaper and the UK’s online inews site on

Monday. “The pace of change will only continue to accelerate, so our work must accelerate too.”

While the UK meeting centered on AI safety issues, the agenda for this week’s gathering was expanded to also include “innovation and inclusivity,” Wang Yun-jong, a deputy director of national security in South Korea, told reporters Monday.

Wang said participants will subsequently “discuss not only the risks posed by AI but also its

UN Security Council rejects Russia-backed resolution on banning weapons in space

By Michael Weissenstein The Associated Press

UNITED NATIONS—The United States said Monday that Russia last week launched a satellite that could be part of weaponizing space, a possible future global trend that members of the United Nations Security Council condemned even as they failed to pass a measure against it.

The Security Council resolution drafted by Russia rivaled one backed by the US and Japan that failed last month. The rival drafts focused on different types of weapons, with the US and Japan specifying weapons of mass destruction. The Russian draft discussed all types of weapons.

The US and its allies said the language that the 15-member council debated on Monday was simply meant to distract the world from Russia’s true intention: weaponizing space.

“The culmination of Russia’s campaign of diplomatic gaslighting and dissembling is the text before us today,” US deputy ambassador Robert Wood told the council.

Russia’s U.N. ambassador, Vassily Nebenzia, denied that his nation was trying to mislead the world. Backed by China and others, he called the vote “a unique moment of truth for our Western colleagues.”

“If they fail to support this, then they will clearly show that their main priority remains keeping freedom of the way for themselves to expedite the militarization of outer space,” Nebenzia said.

Every nation says it wants weapons barred from space, and council members repeated that Monday.

But when it came time to vote, the council evenly split 7-7 between backers of the US and of Russia, with Switzerland abstaining. The measure failed under U.N. rules because it didn’t receive nine votes.

“We have this negative, squabbling attitude among leading space powers that seem more interested in scoring points off their adversaries rather than engaging in constructive dialogue,” said Paul Meyer, Canada’s former ambassador for disarmament and a fellow at the Vancouver-based Outer Space Institute.

Since before humans left the Earth, the world’s most powerful nations have worried about their enemies using outer space to attack them.

The Soviet Union and the United States sent men into space in 1961. Six years later, the Soviets, the US and the United Kingdom signed a treaty declaring outer space a global commons that could be used for only peaceful purposes.

Even though nations could not wage war without the space-based communications, reconnaissance and weather tools that satellites

Australia, New Zealand begin evacuating nationals from unrest in New Caledonia

By Keiran Smith The Associated Press

NEWCASTLE, Australia— Australia and New Zealand sent airplanes to New Caledonia on Tuesday to begin bringing home stranded citizens from the violence-wracked French South Pacific territory.

Australian Foreign Minister Penny Wong said Australia had received clearance from French authorities for two flights to evacuate citizens from the archipelago, where indigenous people have long sought independence from France. Hours later, a Royal Australian Air Force C-130 Hercules touched down in Noumea, the capital. The plane can carry 124 passengers, according to the Defense Department.

“We continue to work on further flights,” Wong wrote on the social media platform X on Tuesday.

The Department of Foreign Affairs said 300 Australians were in New Caledonia. It did not immediately confirm whether the Australian-organized flights would also evacuate other stranded foreign nationals, believed to number in the thousands.

New Zealand’s government also announced that it had sent a plane to New Caledonia to begin evacuating about 50 of its citizens.

“New Zealanders in New Caledonia have faced a challenging few days—and bringing them home has been an urgent priority for the government,” Foreign Affairs Minister Winston Peters said.

“In cooperation with France and Australia, we are working on sub-

sequent flights in coming days.”

Noumea’s international airport remains closed to commercial flights. Its reopening will be reassessed on Thursday.

At least six people have died and hundreds more have been injured since violence erupted last week in New Caledonia following controversial electoral reforms passed in Paris.

About 270 suspected rioters have been arrested as of Tuesday, and a 6 p.m.-6 a.m. curfew is in effect for the archipelago of about 270,000 people, which is a popular tourist destination with its idyllic beaches and climate.

France has sent in over a thousand security personnel, with hundreds more due to arrive Tuesday, to try to quell the unrest and restore control.

positive aspects and how it can contribute to humanity in a balanced manner.”

The AI agreement will include the outcomes of discussions on safety, innovation and inclusivity, according to Park Sang-wook, senior presidential adviser for science and technology for President Yoon.

The leaders of the Group of Seven wealthy democracies—the US, Canada, France, Germany, Italy, Japan and Britain—were invited

and spacecraft provide, the 1967 Outer Space Treaty requires them to keep their weapons on Earth.

“You realize what an important conflict-prevention measure that was,” Meyer said.

It’s become even more important, he said, as a growing number of nations have moved into space. About a dozen have the capacity to launch spacecraft, and about 80 have their own satellites, not to mention the private companies with assets in orbit.

All of that could be at risk if a conflict in space causes an explosion and shrapnel, which could disable the vital systems that millions of people around the world depend on.

“A lot of people have a stake in being able to operate in space safely and securely,” Meyer said.

The US has gathered highly sensitive intelligence about Russian anti-satellite weapons that has been shared with the upper echelons of government, four people who had been briefed on the intelligence said in February. The people, who were not authorized to comment publicly, said the capability was not yet operational.

Armed clashes, looting, arson and other violence turned parts of Noumea into no-go zones. Columns of smoke billowed into the sky, hulks of burned cars littered roads, businesses and shops were ransacked and buildings became smoking ruins.

There have been decades of tensions between indigenous Kanaks who are seeking independence and descendants of colonizers who want to remain part of France.

The unrest erupted May 13 as the French legislature in Paris debated amending the French Constitution to make changes to New Caledonia voter lists. The National Assembly in Paris approved a bill that would, among other changes, allow residents who have lived in New Caledonia for 10 years to cast ballots in provincial elections.

Opponents fear the measure will benefit pro-France politicians in New Caledonia and further marginalize Kanaks who once suffered from strict segregation policies and widespread discrimination.

to the virtual summit, along with leaders of Australia and Singapore and representatives from the UN, the EU, OpenAI, Google, Meta, Amazon and Samsung, according to South Korea’s presidential office.

China doesn’t plan to participate in the virtual summit though it will send a representative to Wednesday’s in-person meeting, the South Korean presidential office said. China took part in the UK summit.

In their article, Yoon and Sunak said they plan to ask companies to do more to show how they assess and respond to risks within their organizations.

“We know that, as with any new technology, AI brings new risks, including deliberate misuse from those who mean to do us harm,” they said. “However, with new models being released almost every week, we are still learning where these risks may emerge, and the best ways to manage them proportionately.”

The Seoul meeting has been billed as a mini virtual summit, serving as an interim meeting until a full-fledged in-person edition that France has pledged to hold. Governments around the world

have been scrambling to formulate regulations for AI even as the technology makes rapid advances and is poised to transform many aspects of daily life, from education and the workplace to copyrights and privacy. There are concerns that advances in AI could take away jobs, trick people and spread disinformation.

Developers of the most powerful AI systems are also banding together to set their own shared approach to setting AI safety standards. Facebook parent company Meta Platforms and Amazon announced Monday they’re joining the Frontier Model Forum, a group founded last year by Anthropic, Google, Microsoft and OpenAI.

In March, the UN General Assembly approved its first resolution on the safe use of AI systems. Earlier in May, the US and China held their first high-level talks on artificial intelligence in Geneva to discuss how to address the risks of the fast-evolving technology and set shared standards to manage it.

The Associated Press writer Kelvin Chan in London contributed to this report.

UK firms offer wage premium for AI workers in bid for growth

By Irina Anghel

UNITED KINGDOM employers are offering a 14 percent wage premium for jobs that require skills in artificial intelligence as booming demand for the technology reshapes the labor market.

Postings for AI roles have risen almost four times faster than the average for other jobs over the last decade, according to research by consulting firm PwC. It analyzed around 500 million advertisements across 15 countries and found nine AI openings in the UK for each 1,000 vacancies. That outpaced the global growth rate.

The report also found that the productivity boost seen in sectors like financial services, information technology or professional services, which are more impacted by AI, is more pronounced in the UK.

“Increased use of AI could turn the dial on productivity in the UK,” said Mehdi Sahneh, senior economist at PwC UK.

“With the gap widening in recent years, AI could be the missing piece of the UK’s productivity puzzle, bringing a boost to the economy, wages, and living standards.”

UK executives, politicians and economists are searching for a growth fix after one of the

worst productivity performances in the developed world since the 2008-09 financial crisis. At the same time, Prime Minister Rishi Sunak is trying to position the country as a global leader on steering the rollout of the technology. The government organized a summit on AI safety last year and is now co-hosting a major gathering in South Korea this week.

Surging demand is pushing up wages as companies compete for a limited pool of workers with technical skills like machine learning. A high wage premium relative to equivalent jobs without AI skills suggests that talent pool is relatively small.

In the UK, premiums can be as high as 27 percent for lawyers with AI skills or 58 percent for database designers and administrators. Globally, the US’s 25 percent average wage premium is the largest out of all countries analyzed, with the UK coming in second.

“Although on the surface lower wage premiums may sound less favorable, all else being equal, they suggest a balance between labor supply and demand, and could potentially foster greater AI adoption and innovation over the long term,” Sahneh said. Bloomberg News

A SCREEN shows an announcement of the AI Seoul Summit in Seoul, South Korea on Tuesday, May 21, 2024. World leaders are expected to adopt a new agreement on artificial intelligence when they gather virtually Tuesday to discuss AI’s potential risks but also ways to promote its benefits and innovation.

www.businessmirror.com.ph

Pentagon commits to continuous weapons support for Ukraine amidst Russian assault

By Lolita C. Baldor & Tara Copp

The Associated Press

ASHINGTON—Defense

WSecretary Lloyd Austin committed Monday to keeping US weapons moving to Ukraine as Kyiv faces one of its toughest moments against a renewed assault by Russia.

Austin and as many as 50 defense leaders from Europe and around the world met Monday to coordinate more military aid to Ukraine as it tries to hold off a Russian offensive in the northeast while launching its own massive assault on the Russia-occupied Crimean Peninsula.

“We’re meeting in a moment of challenge,” Austin said, noting that Russia’s new onslaught on Kharkiv, Ukraine’s second-largest city, showed why the commitment was vital. Austin vowed to keep US weapons moving “week after week.”

Austin told reporters the group spent a lot of time talking about Ukraine’s critical need for air defense systems, which he said are helping stave off the Russian attacks.

“We’ll continue to push to ensure that Ukraine owns its skies and can defend its citizens and its civilian infrastructure far from the front lines,” he said after the meeting ended.

Speaking alongside Austin, Gen. CQ Brown, chairman of the Joint Chiefs of Staff, said that while there are no plans now to put US trainers back into Ukraine to work with Ukrainian forces, the US could do that after the war.

“Once this conflict is over and we’re in a better place, then I would suspect we would be able to bring trainers back in,” he said.

The US announced no new aid packages Monday, even as Ukrainian forces continue to complain

that weapons are just trickling into the country after being stalled for months due to congressional gridlock over funding. Pentagon officials have said that weapons pre-positioned in Europe began moving into Ukraine soon after the aid funding was approved in late April.

It’s unclear how much of that has reached some of the front lines, where Russian troops have intensified their assault.

Russian President Vladimir Putin said on Friday during a visit to China that Moscow’s offensive in the northeastern Kharkiv region aims to create a buffer zone but there are no plans to capture the city.

Ukrainian troops have been fighting to halt Russian advances in the Kharkiv region, while also increasing their offensive attacks in Crimea, including on military infrastructure on the Black Sea coast and in the Russian-occupied city of Sevastopol.

Ukraine has struggled to get enough troops to the front lines, as the war drags on into its third year and fighting takes its toll. In an effort to increase troop numbers, President Volodymyr Zelenskyy signed two laws, allowing prisoners to join the army and increasing fines for draft dodgers fivefold. The controversial mobilization law goes into effect on Saturday.

In the four weeks since President Joe Biden signed the $95 billion foreign aid package, which included about $61 billion for Ukraine, the US has sent $1.4 billion in weapons pulled from Pentagon stockpiles and announced it was providing $6 billion in funding through the Ukraine Security Assistance Initiative. USAI pays for longer-term contracts with the defense industry and means that the weapons could take many months or years to arrive.

War crimes prosecutor seeks arrest of Israeli and Hamas leaders, including PM Netanyahu

Continued from A11

leader of the Islamic militant group, is based in Qatar and frequently travels across the region. Qatar, like Israel, is not a member of the ICC.

The latest war between Israel and Hamas began on October 7, when militants from Gaza crossed into Israel and killed some 1,200 people, mostly civilians, and took 250 others hostage.

Since then, Israel has waged a brutal campaign to dismantle Hamas in Gaza.

More than 35,000 Palestinians have been killed in the fighting, at least half of them women and children, according to the latest estimates by Gaza health officials.

The war has triggered a humanitarian crisis in Gaza, displacing roughly 80 percent of the population and leaving hundreds of thousands of people on the brink of starvation, according to UN officials.

Speaking of the Israeli actions, Khan said “the effects of the use of starvation as a method of warfare, together with other attacks and collective punishment against the civilian population of Gaza are acute, visible and widely known.”

The United Nations and other aid agencies have repeatedly accused Israel of hindering aid deliveries throughout the war. Israel denies this, saying there are no restrictions on aid entering Gaza and accusing the UN of failing to distribute aid.

Of the Hamas actions on October 7, Khan, who visited the region in December, said that he saw for himself “the devastating scenes of these attacks and the profound impact of the unconscionable crimes.”

In their rampage, Hamas militants gunned down scores of revelers at a dance party and killed entire families as they huddled in their homes. “These acts demand accountability,” Khan said.

International human rights lawyer Amal Clooney served on a five-member

In recent packages the US has agreed to send High Mobility Artillery Rocket Systems (HIMARS) and rockets for them, as well as munitions for Patriot and National Advanced Surface-to-Air Missile Systems, artillery, anti-aircraft and anti-tank munitions, and an array of armored vehicles, such as Bradley and Mine Resistant Ambush Protected vehicles.

The US is also providing additional coastal and riverine patrol boats, trailers, demolition munitions, high-speed anti-radiation

missiles, protective gear, spare parts and other weapons and equipment.

The State Department has also approved a proposed emergency sale of HIMARS to Ukraine for an estimated $30 million. State said Ukraine has asked to buy three of the rocket systems, which would be funded by the government of Germany.

The US has now provided about $50.6 billion in military assistance to Ukraine since Russia invaded in February 2022.

expert panel that advised Khan. She said the panel had agreed unanimously that there are “reasonable grounds” to believe that both the Hamas and Israeli leaders had committed war crimes, according to a statement.

South Africa, which has been leading a genocide case against Israel at the UN world court, welcomed Khan’s announcement seeking the arrest of Israeli and Hamas leaders. “The law must be applied equally to all in order to uphold the international rule of law,” the office of President Cyril Ramaphosa said.

The ICC was established in 2002 as the permanent court of last resort to prosecute individuals responsible for the world’s most heinous atrocities—war crimes, crimes against humanity, genocide and the crime of aggression.

The UN General Assembly endorsed the ICC, but the court is independent.

Dozens of countries don’t accept the court’s jurisdiction over war crimes, genocide and other crimes. They include Israel, the United States, Russia and China.

The ICC accepted“The State of Palestine”as a member in 2015, a year after the Palestinians accepted the court’s jurisdiction.

In 2020, then US President Donald Trump authorized economic and travel sanctions on the ICC prosecutor and another senior prosecutor. The ICC staff were looking into US and allies’ troops for possible war crimes in Afghanistan. Biden lifted the sanctions in 2021.

Last year, the court issued a warrant for Russian President Vladimir Putin on charges of responsibility for the abductions of children from Ukraine. Russia responded by issuing its own arrest warrants for Khan and ICC judges. AP journalists Molly Quell in Delft, Netherlands, and Mike Corder in Ede, Netherlands, contributed to this report.

DEFENSE Secretary Lloyd Austin, left, and Chairman of the Joint Chiefs Of Staff Gen. Charles Q. Brown, Jr. take part in a press briefing at the Pentagon on Monday, May 20, 2024, in Washington. AP/KEVIN WOLF

The Philippines’ reliance on imported food and its pursuit of agricultural exports

THE Philippines has been relying on food producers from other countries for decades. It continues to import rice in huge quantities years after the El Niño episode of 1997-1998 that ravaged swaths of ricelands. The country also purchases millions of kilos of meat products to prop up its domestic supply of pork as well as beef.

The latest data from the Philippine Statistics Authority (PSA) attest to the fact that the countr y remains reliant on foreign farmers for its food supply. Even as millions of local farmers and workers depend on the farm sector for their livelihood, the countr y’s food imports accounted for nearly 72 percent of agricultural trade in the first quarter (See, “Report: PHL agri imports reach $4.34B in Q1,” in the BusinessMirror, May 20, 2024). As expected, cereals (including rice and wheat), topped the list of food items that the countr y imports, followed by residues and waste from the food industries, miscellaneous edible preparations, and meat and edible meat offal.

Despite this, the latest PSA record also gives us hope that the Philippines is progressing toward its goal of becoming an export powerhouse by 2028. This is because agricultural exports in the first quarter went up by 10.7 percent to $1.72 billion from $1.56 billion recorded in 2023 PSA said the Philippines’s top exports include edible fruits and nuts and preparations of vegetables, fruit, buts or other parts of the plants.

There is a lot of room for growth for the Philippine farm exports given the world’s increasing need for more food to feed an expanding population. Of the $6.07-billion agricultural trade recorded in Januar y to March exports accounted for only 28 percent. Given the right resources and support, local producers can expand outward shipments and eventually tilt the balance of agricultural trade in favor of the Philippines.

For one, food producers need assistance in hurdling the stringent sanitary and phytosanitary requirements and other nontariff barriers of importing countries. Those who wish to export more food items to countries in Europe would have to deal with a new law that aims to prevent the shipment of products linked to deforestation. The Philippine Exporters Confederation Inc. noted that the EU Deforestation Regulation or Regulation 2023/1115, which will enter into force in December, applies to entities exporting cattle/beef, soy, coffee, coco, palm oil, rubber and wood. (See, “Brace for EU deforestation law, ex porters told,” in the BusinessMirror, April 8, 2024).

The Philippines is a party to a number of free trade agreements, including the Regional Comprehensive Economic Partnership. The countr y should help its producers take full advantage of the benefits offered by these free trade deals to expand their food shipments. In particular, the government should step up efforts to encourage micro, small and medium enterprises to participate in free trade deals that will not only enhance their viability but also allow them to create more jobs in rural areas.

Construction remains a growth driver

TTHE BUILDER

HE gross domestic product growth story in the first quarter of the year will sum it up. Construction is still a key driver of GDP growth, underscoring its significant contribution to the Philippine economy.

The construction sector expanded 7.0 percent in the first quarter of 2024, playing a crucial role in the economic uptick. The growth, while slower than in the previous year still outpaced the overall economy’s performance.

That can be largely attributed to the government’s continued focus on infrastructure projects under the “Build Better More” program, with public spending on infrastructure surging 12.4 percent. It highlights the program’s momentum, particularly with the accelerated implementation of the Public-Private Partnership (PPP) Code.

The growth in construction was slightly slower than the 11.0 percent recorded in the same period of 2023 likely due to higher temperatures this year that make long exposure to the heat risky. The situation might have extended to April and May when dangerous heat indexes were declared in many parts of Luzon.

Building permit applications also saw a temporary slowdown amid prevailing high interest rates. However the Bangko Sentral ng Pilipinas’ an-

Crypto lifted

Cticipated monetar y easing in the latter half of 2024 is expected to reignite private sector interest in residential, commercial and industrial projects.

The first quarter of 2024 presented a positive picture for the overall economy, with all sectors experiencing growth The countr y’s GDP grew 5.7 percent year-on-year during the period, per the Philippine Statistics Authority (PSA). Agriculture, forestr y and fishing (AFF) expanded 0.4 percent; industr y by 5.1 percent; and ser vices by 6.9 percent.

On the demand side, household f i nal cons u mpt ion expend it ure (HFCE) increased 4.6 percent, while government final consumption expenditure (GFCE) rose 1.7 percent. Gross capital formation went up 1.3 percent; exports of goods and services by 7.5 percent; and imports of goods and ser vices by 2.3 percent.

The gross national income (GNI), a broader measure of the economy, grew 9.7 percent in the first quarter of 2024, boosted by the 57-percent surge in net primar y income (NPl) from the rest of the world. Remit-

By David Pan, Olga Kharif & Isabelle Lee

RYPTO prices have surged on signs of momentum toward US approval of exchange-traded funds investing directly in second-largest token Ether, a shift from a more downbeat outlook as recently as last week.

asked not to be identified as the matter is private. That’s a sign that odds for SEC approval may be rising, one of the people said. The dialog is an unexpected shift but a green light is by no means guaranteed, the person added.

ETF paperwork

THE 19b-4 filings are just some of the required paper work. Issuers also need the regulator to sign off on S-1 registration statements before launching products. A decision on at least one spot-Ether ETF application is due by May 23 An SEC spokesperson said the agency doesn’t comment on individual filings.

familiar with the matter, who

Social media is alive with speculation that “the SEC might be more likely to lean toward potential approval, and traders are now scram-

tances, inter national tourism receipts, business process outsourcing revenues and other foreign inflows kept the economy afloat. Major foreign investments are also beginning to flow into the countr y. Within the industr y sector, manufacturing was the primar y growth engine, recording a 4.5-percent expansion in the first quarter

T he ser v ices sector d i splayed promising signs, with the Department of Tourism (DOT) reporting a significant rise in international tourism receipts, reaching P157.6 billion.

The sector’s 6.9-percent expansion was driven by a 13.9-percent surge in accommodation and food services, illustrating a sustained recover y in tourism-related activities.

Filipinos spent more on recreation, hotels and restaurants, supported by a healthy job market with low unemployment and underemployment rates. The steady inflows of remittances from Filipinos working overseas boosted domestic spending.

The agriculture sector, despite the challenges posed by El Niño, managed to eke out a 0.4-percent growth in the first three months. We hope this sector will recover in the coming months despite the lingering threat of El Niño and the possible onset of La Niña in June.

The sustained growth in manufacturing and ser vices sectors will inevitably translate into a construction boom. Increased demand for factories, hotels, resorts and entertainment establishments will necessitate further construction activity to meet the rising demand.

The housing sector will also soon

bling to put on positions since many had completely written off even the remote possibility of an approval,” said Chris Newhouse, an analyst at Cumberland Labs.

Ether is the native token of the Et hereu m blockc h a i n, t he most important commercial highway in crypto. The network is popular for decentralized financial services, where investors trade, borrow and lend via automated software protocols rather than traditional intermediaries.

Rising odds ON Monday, Bloomberg Intelligence ETF analyst Eric Balchunas said he and his colleague James Seyffart had increased the estimated probability that a spot-Ether ETF gets approved to 75 percent from 25 percent.

Some fund companies had expected a rejection because their private talks with the SEC hadn’t been as robust compared with the runup to the launch of spot-Bitcoin ETFs, Bloomberg News reported on Friday, citing two people familiar with the matter who asked not to be named discussing private conversations.

catch up. The government’s National Housing Program or “4PH” aims to bridge the significant housing gap of over 6.5 million units. While high interest rates pose a hurdle for private developers, the government is actively encouraging its financing arms to offer flexible terms for low-income homebuyers. The high-income segment of theresidentialmarket,however,seems less susceptible to these challenges.

The government plays a crucial role in stimulating economic growth through sustained infrastructure spending. This will ensure the Philippines remains on track to achieve its med iu m-to-long-te r m goals. President Ferdinand Marcos Jr.’s issuance of Executive Order (EO) No. 59 in April 2024 deser ves plaudits as it aims to expedite the rollout of 185 flagship infrastructure projects (IFPs), valued at over P9 trillion, by streamlining the permitting process. The full implementation of the PPP Code, w ith its implementing rules and regulations, is anticipated to attract greater private sector participation in financing major infrastructure initiatives. W it h t hese developments i n mind, I am optimistic about the nea r -to-med iu m-te r m econom ic outlook. A collaborative effort between the government and the private sector focusing on erecting more houses, buildings and infrastructure projects, will create jobs, address social needs and enhance the economy’s competitiveness.

For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

Caution was still evident among some investors. Ravi Doshi, head of markets at FalconX, said that the company’s “derivatives desk has seen the majority of our counter parties fade the move with the expectation that the SEC will move slower than the markets are anticipating.”

A skeptical SEC, which other wise has been cracking down on cr ypto, reluctantly acquiesced to US spotBitcoin ETFs at the start of the year in the wake of a court reversal in 2023 The products from the likes of BlackRock Inc. and Fidelity Investments have amassed $58 billion in assets, one of the most successful debuts ever for a fund categor y. BlackRock and Fidelity are also seeking to start Ether funds. The digital-asset industr y views US ETFs as a way of widening crypto’s investor base. Retail investors, hedge funds, pension funds and banks have sprinkled capital into the Bitcoin funds— Millennium Management, Steven Cohen’s Point72 Asset Management and Elliott Investment Management are among the well-known buyers. With assistance from Ryan Weeks / Bloomberg

Mark Villar

PHILIPPINE

Philippines seeks Asia logistics hub status, banking on US ties

By Cliff Venzon & Ditas Lopez

Tt

6t h Indo-Pac i f ic Bu si ness Foru m i n Man i la on Tuesday. Ma rcos sa id t he cou nt r y’s i nf r ast ru ct ure prog r am t h at i nclu des 185 priority pro j ects wor t h P 9.5 t ri ll ion ($16 3 b i ll ion) wou ld help t he nat ion become t he next log i st ics cente r i n As i a. T hi s aspirat ion puts t he Phi lippi nes i n compet it ion w it h ne ig hbors t h at h ave deepened t he ir pu sh i n t hese a reas l i ke V ietnam and Indonesi a. Sout heast Asi an cou nt ries,

w it h its pool of sk i lled and affordable talent, a re rac i ng to get a sl ice of t he bi ll ions of dolla rs of i nvestment t h at may spread

out i n t he reg ion as pa r t of deri sk i ng effor ts by t he US and its all ies away f rom C hi na. W hi le t he Phi l ippi nes, one of t he fastest-g row i ng econom ies i n t he reg ion, h as opened up more sectors to fore ign i nvestors, i nclud i ng renewable energy, it h as lagged ne ig hbors i n att r act i ng overseas f u nds to bui ld more factories.

Net i nflows of fore ign d irect i nvestments to t he cou nt r y d ropped 7 percemt to $8.9 bi ll ion last yea r f rom 2022. T h e b u s i ness fo ru m i s pa r t of Was hi ngton’s effo r ts to t i g hten econom i c r elat i ons w it h t h e Phi l i pp i nes, as t h e all i es bolste r defense t i es am i d g r ow i ng tens i ons w it h Be iji ng ove r t h e d i sp u ted So u t h C hi na Sea.

It comes afte r last mont h ’s f ir st-eve r t ri late r al s u mm it between t he US, Phi l ipp i nes and Japan at t he W hite Hou se w he re t he long-t i me all ies pledged to g row i nvestment pa r tne r s hips afte r rek i ndl i ng sec urity t ies. “We bel ieve f u ndamentally t h at t he prosperity of ever yday Americans i s i next ricably l i nked to t he Indo-Pac i f ic,” US Assi stant Sec reta r y of State for East Asi an and Pac i f ic Affa irs Daniel K ritenbri nk sa id i n t he same foru m. Ma rcos sa id t he Phi l ippi nes i s seek i ng g reater pa r t ic ipat ion i n global value c h a i ns and i nc reased fore ign d irect i nvestments to su sta i n econom ic g rowt h “An econom ically st rong Phi l ippi nes w i ll be a valu able ally i n t he reg ion,” he added. Bloomberg

London remains top pick in Europe for financial investors; Paris comes second

By Charlotte Hughes-Morgan

LONDON still leads European cities in attracting foreign direct investment in financial services, with the UK’s share of new projects reaching the highest level in a decade, a survey by Ernst & Young showed.

London secured 81 projects in 2023, 76 percent more than the previous year and more than double that of second-placed Paris, which saw an 11% decline, the New York-based consultancy said in a report after a survey of 900 decision makers. It also said the French capital was slowly winning over hearts and is likely to challenge London’s dominance in the coming years.

‘Indigenous

peoples as stewards of Philippine biodiversity’

By Selva Ramachandran

THE Philippines is one of the 18 mega-biodiverse countries in the world, and safeguarding its rich biodiversity is critically important. Nearly half the plants and animals found in the country exist nowhere else on Earth. The Philippines is home to two-thirds of the earth’s biodiversity and between 70 percent and 80 percent of the world’s plant and animal species. These wonders thrive within 228 identified Key Biodiversity Areas.

T hus, the Philippines has comm i tted to t h e amb i t i o u s K u nming-Montreal Global Biodiversity Framework (KMGBF) that aims to address biod iversity loss, restore ecosystems, and protect indigenous peoples’ rights. It includes protection and conser vation of at least 30 percent of the world’s land, fresh water and sea by 2030 (also known as the 30x30 targets).

T he ambitious GBF targets w ill entail a whole of society approach that is inclusive and leaves no one be hi nd. T hi s means h av i ng t he national gover nment agencies, local gover nment units, indigenous peoples and local communities, civ il society organizations, academic and research institutions and the private sector, all doing their share. Appropriate gover nance mechanisms, increased financing, local innovat ive solut ions, capac ity-bui ld ing, gender mainstreaming and youth par ticipation w ill definitely be crucial as we work towards the 30x30 targets.

One cannot deny the fact that indigenous peoples are significant onsite stewards of the rich biodiversity of the Philippines. In fact, there is an almost a 1:1 correspondence of Key Biodiversity A reas and ancestral domains in the Philippines. To emphasize, many of the remaining Key Biodiversity A reas that are not protected areas are ancestral

domains. T his data prov ides tang ible ev idence that the traditional knowledge, systems, and practices of Ind i genou s Peoples t h at a re deeply rooted in their cu lture and belief are in fact sustainable. T hus, the Indigenous Peoples, being the holders of vast natural resources, are in the forefront of env ironmental management.

T he theme of this year’s International Day for Biodiversity—“Be par t of the plan”— i s a rem i nder of the significance of indigenous peoples’ inclusion and participation in the work towards biodiversity protection.

T he Un ited Nat ions Development Programme (UNDP) in the Philippines, alongside our partners, has made it a commitment to safeguard the env ironmental and social rights of the IP communities in our biodiversity work. In key areas, we ensure that prov isions of the United Nations Declaration on the R ights of Indigenous Peoples (UNDRIP) are integrated. We uphold the Philippine Constitution, the Indigenous Peoples R ights Act (IPRA) and the countr y’s Free Prior and Infor med Consent (FPIC) policy in all initiatives dealing w ith IP communities. With suppor t from the Global Env ironment Fac i l ity (GEF), t he Depar tment of Env ironment and Natural Resources (DENR) and the National Commission on Ind ige-

The ambitious GBF targets will entail a whole of society approach that is inclusive and leaves no one behind. This means having the national government agencies, local government units, indigenous peoples and local communities, civil society organizations, academic and research institutions and the private sector, all doing their share.

nous Peoples (NCIP), UNDP Philippines, since 2010, has worked w ith 17 IP communities on delineating boundaries and mapping precious ecosystems, conducting inventor y of resources and documentation of indigenous knowledge, systems and practices. Some 25 IP organizations were also suppor ted in their establishment of community-led livelihood initiatives. It is impor tant to engage the indigenous communities as resource group rather than as benef iciaries alone. Another major milestone to date is the inclusion of a salient prov ision on Indigenous Communities Conser ved A reas (ICCAs) i n t he enhanced National Integrated Protected A reas System (ENIPAS) law. T h e GEF-s u ppo r ted UND PDENR Biod iversity Management Bureau Phi l ippi ne ICCA Project prov ided oppor tunities to ensure indigenous peoples were well represented in the drafting of the ICCA Bill, which recognizes the contributions and the effective conser vation measures by the indigenous peoples. Select IP organizations were prov ided technical and financial assistance by PICCA P and the 5th Operational Phase of the GEF Small Grants Programme for the establishment and operation of biodiversity-friendly enter prises.

T he ongoing effor ts led by the DENR-BMB to update the Philippine Biod iversity Strategy and Act ion Plan (PBSA P) ensures its alignment w ith the GBF, including the 30x30 target. One of the key developments is for the ICCAs to be considered as a stand-alone conser vation measure alongside protected areas and Other Effective A rea-Based Conser vation Measures (OECMs). UNDP through our GEF suppor ted projects, i ncluding the GBF Early Action Suppor t, the BD Corridor, Access and Benefit Sharing, the Small Grants Prog ramme and t he Biod iversity Finance Initiative projects suppor t this under tak ing for it ser ves as an avenue for a par ticipator y and inclusive process.

Moreover, UNDP, together w ith other development par tners have suppor ted DENR in institutionalizing the recognition, management and strengthening of Local Conservation Areas as OECMs, in strengthening the access and benefits of IP commu n it ies f rom t he cou nt r y’s

g-compi

est rival France, EY found. Britain attracted 108 projects in 2023—an increase from 76 projects in 2022. That puts it significantly ahead of other European destinations like France and Germany, which notched up 39 and 38 projects, respectively. France, which is seeking to present itself as an attractive post-Brexit alternative to the City of London, secured 39 financial ser vices projects last year representing a drop of 13 percent. Yet the data showed that investors ranked Paris above London as the most attractive European city for future financial investment over a three-year horizon, EY said. Many Wall Street titans have been touting Paris as

GSK faces whistleblower suit from lab that found Zantac risk

By Jef Feeley & Anna Edney

GSK Plc. is facing a whistleblower lawsuit that could potentially cost it billions of dollars from the laboratory that revealed the presence of a probable carcinogen in Zantac, the heartburn medication that the UK drugmaker invented and turned into a blockbuster.

An amended complaint filed

Monday contends that GSK hid Zantac’s cancer risks for decades while Medicare, Medicaid and other US government health programs covered prescriptions for the antacid. The lawsuit, which hasn’t been reported before, was brought by Connecticut-based Valisure, the independent lab that raised the alarm about Zantac’s cancer risks in 2019.

GSK’s American depositar y receipts fell 1.7 percent on the news before bouncing to $44.59 at the close in New York trading.

Big drugmakers already face some 80,000 state suits from users of the drug who say their cancers were caused by Zantac contaminated with NDMA, the dangerous chemical Valisure discovered.

Bloomberg Intelligence estimates they could cost GSK as much $1.2 billion. The lab’s whistleblower suit addresses potential fraud on the part of the company and, if successful, would seek repayment of billions of dollars the government paid for Zantac, along with fines.

“Our argument is that ever y dollar the government—state or federal—paid for Zantac, was fraud,” Brent Wisner of Wisner Baum in Los Angeles, one of Valisure’s attorneys in the case, said in an inter view. “It may rise to the level of posing an existential threat to GSK.”

GSK said it will vigorously defend itself.

“This is a lawsuit with no merit brought by Valisure, a private, litigation-driven laborator y whose 2019 Zantac tests were determined scientifically flawed and unreliable” by the US Food and Drug Administration and by a federal judge in Florida, the company said in a statement.

Val isure used t he test met hod FDA had come up w it h to test for NDMA at t he t ime. T he agency later rev ised t he met hod to test for t he c hem ical in Zantac and d id f ind elevated levels of t he ca rc inogen.

W histleblower cases are typically brought by company employees or other insiders who report wrongdoing. Valisure filed the suit because it had non-public information about GSK when it discovered NDMA in Zantac. The lab also gave its findings to the FDA several months before making them public. Wisner and Jennifer Moore of Moore Law Group in Louisville, Kentucky, took on Valisure’s case this month The pair is known for large verdicts they won against Bayer AG on behalf of people who claimed the company’s herbicide Roundup caused their cancers. The German company’s shares have lost about 70 percent of their value since investor concern arose about Bayer’s liability, eventually leading to the departure of former Chief Executive Officer Werner Baumann.

Confidential settlements

GSK has reached a string of confidential settlements in Wisner’s and Moore’s state-court cases in California involving claims Zantac caused users’ cancers. The accords came on the eve of trial in some cases. The whistleblower case, however poses a different kind of financial risk than individual Zantac suits. Medicaid alone spent some $5.2 billion from 1991 to 2020 on Zantac, while Medicare’s costs over a seven-year period starting in 2012 were almost $800 million, according to the suit. Valisure’s lawyers will ask a judge to triple

Whistleblower cases are typically brought by company employees or other insiders who report wrongdoing. Valisure filed the suit because it had non-public information about GSK when it discovered NDMA in Zantac. The lab also gave its findings to the FDA several months before making them public.

any recover y under provisions of states’ and the US government’s false-claim laws. GSK may also face fines of as much as $11,000 for each false claim it submitted, according to the filings. Also called qui-tam complaints, whistleblower suits are filed under seal and given to the US Justice Department for review. Government prosecutors can inter vene if they choose.

Valisure originally filed its whistleblower complaint in 2019, but the case was kept under seal until the government had a chance to review it. Laborator y officials filed the case on behalf of US taxpayers and those in 25 states. A judge unsealed Valisure’s suit in March after the government declined to either join the suit or recommend dismissal. The amended complaint offers more details about the lab’s claims.

Potentially lethal IN the suit, Valisure contends that NDMA is a potentially lethal carcinogen no matter how small the exposure and GSK officials knew Zantac could degrade into that substance in certain circumstances, but never warned consumers. Just the second medication to garner more than $1 billion in annual sales, Zantac hit the US market as a prescription drug in 1983 before becoming an over-the-counter heartburn treatment in 1996. Some versions of the drug continued to require a prescription, such as those for infants.

French drugmaker Sanofi, which acquired over-the-counter Zantac in 2017, recalled the brand-

name version shortly after Valisure released test results in 2019 showing elevated levels of NDMA in the medication and its generics. The lab’s research indicated the drug’s active ingredient, ranitidine, formed NDMA over time or at higher temperatures. An odorless liquid chemical once used to make rocket fuel, NDMA is often found as a byproduct of manufacturing processes. The International Agency for Research on Cancer classifies it as a group 2A carcinogen, meaning that it’s probably carcinogenic in humans.

In 2020, the Food and Drug Administration confir med Zantac and its generics cou ld for m NDMA and ordered drugmakers to take all versions of the medicine, including generics, off the market. Sanofi has since retur ned Zantac to store shelves but replaced ranitidine w ith famotidine, the active ingredient in competitor Pepcid, which hasn’t been shown to for m NDMA.

Bloomberg reported last year that a study done in 1982 by GSK, then called Glaxo, showed the potential for Zantac to form NDMA. GSK kept the findings secret until sharing it with regulators after Valisure’s findings came out.

GSK said in its statement that the FDA found that the test method Valisure used in sampling ranitidine for NDMA was inappropriate and caused the levels of the chemical to be artificially high

“There have been 16 epidemiological studies analyzing human data regarding the use of ranitidine,” the company said. “The scientific consensus continues to be that there is no consistent or reliable evidence that ranitidine increases the risk of any cancer.”

Ever y public-health agency, from the Environmental Protection Agency to the FDA to the World Health Organization, says NDMA likely causes cancer in humans. But proving that a particular person’s cancerous cells were mutated by a company’s drug is complicated. Bloomberg

EPeso falls to 18-month low as Fed signals rate cut delay VISA: MSME EXPANSION PLANS COULD DRIVE REMITTANCES

By Cai U. Ordinario @caiordinario

THE Philippine peso fell to its weakest level in almost two years on expectations that the United States Federal Reserve could delay its rate cuts, according to the Bangko Sentral ng Pilipinas (BSP).

services abroad to allow them to respond to the needs of the local market.

Navarro said 60 percent of these firms are also eyeing to sell their wares abroad through an expansion of their operations elsewhere in the world.

At times, these MSMEs also fuel the growth of the travel industry because the firms would go abroad to test products and services before bringing them to the country to sell or use.

In terms of education, Navarro said there are 55,000 to 60,000 Filipino students abroad. This number is expected to grow ahywhere from 8 to 10 percent.

irst breac hed t he P58 level i n September 2022 and cont i nued t rad i ng at t his level u nt i l November 2022.

“T he peso weakened beyond 58 to t he US dolla r today, in l ine w it h ot her currencies in the reg ion. T he dollar continued to strengthen as t he Federal Reser ve signaled delay in cutt ing interest rates,” BSP Gover nor El i M. Remolona Jr sa id in a statement.

Remolona assured that the BSP will continue to monitor the foreign exchange market. However it will allow “the market to function without aiming to protect a certain exchange rate.”

“Nonetheless, the BSP w ill participate in the market when necessar y to smoothen excessive volat i l ity and restore order during periods of stress,” Remolona sa id. On Tuesday, t he peso opened at P57.97 to t he dolla r and traded at its lowest at P58.28 and its highest at P57.97 to t he g reenback.

With the increase in students overseas, parents need to remit to them allowances and tuition while they complete their studies outside the country.

Navarro said apart from these, other reasons for outbound remittances include about 175,000 to 200,000 foreigners in the Philippines

T he weighted AM average of t he peso was at P58.087 to t he dolla r on Tuesday, lower t han t he P57.747 average in t he same period on Monday. As for t he PM weighted average, it was at P58.169 to t he US dolla r, also lower t han t he P57.778 to t he g reenbak posted on Monday. T he total volume traded reac hed 1,620, which is 34.27 percent higher than the 1,206.5 total volume reac hed on Monday. T h e total AM volu

“I

together so we can also do outbound and really set up that structure where cross-border money movement in-out is really happening here in the Philippines,” he added.

He noted that there are 1.1 million MSMEs nationwide and majority or 70 percent of these firms confirmed that they procured goods and

Editor: Jennifer A. Ng

By VG Cabuag @villygc

Fcannot be compet i t i ve, g i ven o ur t r ack record i n develop i ng mega i nf r ast ru ct ure pro j ects.”

By Lenie Lectura @llectura

DMCI i s also set to f ur t he r i mprove its off-g rid powe r bu s i ness as it expects to prov ide a total of 40 megawatts of power i n t he va riou s i slands t h at it se r ves. In pa r t ic u la r DMCI i s ope r ati ng a 2x8-megawatt (MW) plant i n Palawan, and an 8-MW bu nkerf ired plant i n Masbate. Consu nji also sa id DMCI Power h as a 4-MW sola r pro j ect i n Masbate and a 12-MW w i nd powe r i n Sem ir a r a Island to d i splace d iesel i n t he wor ks. As for DMCI Homes, Cons u nji sa id it cont i nues to g r apple w it h c h allenges, s u c h as t h e excess s upply of f i n i s hed u n its.

“At t he moment, DMCI sales a re goi ng to be sl i g htly below prepandem ic level. But t hey expect by 2025 w it h t he le i s ure projects and ot he r uppe r - and lowe r -ma r ket segments, sales of DMCI Homes w i ll exceed prepandem ic levels.”

Meanw hi le, t he g roup i s wor ki ng on t he pe r m its for its n ickel projects, whic h a re not ope r at ional. Cons u nji sa id t he company expects to complete t he pe r m itt i ng process before t he end of t hi s yea r “So, hopef u lly, two a r eas i n pa r t ic u la r, one i n Zambales and one i n B r ooke’s Po i nt Palawan s hou ld be ope r at ional before t he end of t hi s yea r.” Last Ma r c h , DMCI r epo r ted t h at its i ncome fell 20 pe rcent to P 24.9 b i ll ion last yea

Pa re purc h ase ag reement to acquire Pet r a Cement Inc. Phi lcement M i ndanao Cor p., a s ubsid i a r y of Phi lcement, w i ll pay P500 m i ll ion i n exc

Pet r a plant, and to manu fact ure and produ ce, d i st ri bute and sell cement produ cts.

T he Pet r a Plant i s i n Pres ident Manuel A. Roxas, Zamboanga del Nor te. “T hi s i s al i gned w it h Phi lcement’s g rowt h st r ategy and its prom i se to ass ure Fi l ip i no cons u me r s w it h rel i able, hi g h qu al ity s upply of cement produ cts u nde r its legacy b r and, Un ion Cement,” t he company sa id. Edu a rdo A. Sa h ag u n, Phi nma’s exec ut i ve v ice pres ident for const ru ct ion mate ri als g roup, sa id t h e ac qui s i t i on w i ll pos i t i on Phi nma as “t he only company to se r ve t he cement needs of nor t he r n M i ndanao.”

“We act u ally look at t h at as an oppor t u n ity. W hen we look at w he re it i s located, it’s almost l i ke we’re t he only one t he re se r v i ng no r t h e r n M i ndanao. We t hi nk t h at h as a good potent i al for u s. And bri ng u s more close r to w he re we want to be as we act u ally put i nto toget he r our

Charisma is not enough

THROUGH the years, I met numerous sales leaders who were overflowing with charisma—that distinct dynamism that attracts both attention and admiration of others. Unfor tunately, only a handful remain in their posts. T his is because charisma is not enough to build and sustain a high per for mance organization.

C harisma can get you inside the room, but it takes 4-C’s (competence, connection with people, character and consistency) to stay there.

Competence

TO effect ively lead people, you need to be able to d i splay a hig h level of competence for t he job. W h at you know matters becau se people a re closely look i ng at how you approac h your work and t he c h allenges t h at conf ront it.

Alt hou g h you don’t need to be t he exper t i n all aspects of t he job, you shou ld be able to show a hig h level pf competency i n a reas t h at matter and a healt hy apprec i at ion for ot her f u nct ions and expert i se. Besides, you can never be conf ident enou g h i f you a re not competent enou g h After all, conf idence i s a f u nct ion of competence.

Connection with people

ACCORDING to T heodore Roosevelt, People don’t ca re how muc h you know u nt i l t hey know how muc h you ca re.” And t h at’s prec i sely why we need to connect w it h people. Please take note t h at establ i shi ng connect ion i s beyond mere commu n icat ion.

Philippine startup ecosystem still has much room to grow

By Lorenz S. Marasigan @lorenzmarasigan

Tv ide tec h nology and i nnovat ion for,” he sa id.

ent reprene ur s hip.

Belani highlighted the challenges some sectors face, even in established markets like Indonesia. For instance, the logistics and supply chain sector has seen multiple companies fail due to the difficulty of disrupting entrenched players.

Character GENUINE connect ion can only be establ i shed once people recogn i ze t he sales leader ’s t rue i ntent ions. And t h at’s why c h a racter i s of t he utmost i mpor tance. It i s t he sales leader ’s moral and et hical compass. T hi s means t h at one’s h abits, act ions and emot ional responses a re consi stent w it h moral and et hical standa rds. One’s i nteg rity i s u su ally assoc i ated w it h c h a racter Hence, i f you a re v iewed as a person of i nteg rity, you a re most l i kely seen as a person of c h a racter

Consistency LASTLY, sales leaders mu st be consi stent w it h t he ir d i splay of competence, connect ion w it h people and c h a racter Consi stency bui lds t ru st and conf idence among team members, and t hi s deter m i nes whet her t hey can cou nt on t he sales leaders’ words and dec i sions, all t he t i me, ever y t i me. Lead i ng a hig h per formance team does not require c h a ri sma. All you need i s consi stency i n competence, connect ion w it h people and c h a racter

Alexey Rola Cajilig is the President of ARCWAY Consultancy Inc., Executive Director of ARC DOCENDI, and Senior Vice President & Chief Operations Officer of EM-CORE DOTNET Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of The effective Seller. He is also the creator of ARCH Styles, a behavioral and personality assessment tool. If you have questions and suggestions, you may send an e-mail to alexey.cajilig@ gmail.com.

T hi s per ta i ns to know i ng more about t hem t hrou g h i nfor mal yet professional i nteract ions. Invest t i me i n knowi ng your team members and t r y to u nderstand wh at t hey value t he most, wh at makes t hem st rive and persevere, hobbies, i nterests, and even relevant experiences. As you ga i n deeper apprec i at ion of your team members, you may ac hieve hig h per for mance by connect i ng organ i zat ional goals w it h personal aspirat ions, i nterests and st rengt h s.

HE Philippine startup ecosystem is still considered nascent compared to its counterparts in Southeast Asia and this provides it with a huge room to grow with more successful models from its neighbors to replicate.

Startup platform e27 CEO Moh an Belan i sa id t he Phi l ippi nes must adopt a strategic approach in enabling its startups to grow by leveraging data from more established startup ecosystems in the region.

Belani emphasized the importance of learning from neighboring countries, for instance, Indonesia, which has seen significant success in various sectors such as ride-hailing, fintech agritech and consumer business marketplaces.

“Indonesia has a ver y significant number of families, cor porate venture firms, and local investors. It’s a diverse pool,” Belani said in an inter view with the BusinessMirror “The Philippines, on the other hand, has a smaller audience pool.

But over time, there will be a pool of entrepreneurs that will be able to build these up.”

Belani suggested that the Philippines could benefit immensely by analyzing past data from Indonesia’s startup landscape. Indonesia, just like the Philippines, is an archipelago.

This data could provide insights into which sectors are most promising and how technology and innovation can be effectively applied.

“I t hi nk t he oppor t u n ity now i s for t he Phi l ippi nes to look to capital i ze on past data t h at t hey can get f rom ma rkets l i ke Indonesi a to see whic h a re t he sectors t h at make more sense to g row, whic h a re t he sectors t h at t hey can pro-

“Not all sectors can be disrupted,” Belani cautioned.

For the Philippines, this means ca ref u l cons ide r at ion i s needed when c hoosing whic h sectors to target for innovation and disruption. By studying the successes and failures in countries like Indonesia, Fi lipino entrepreneurs can make more informed decisions, avoiding pitfalls and seizing opportunities with greater precision.

Leveraging youth and economic momentum

As the Philippine economy continues its upward trajector y, the co u nt r y’s sta r t u p ecosystem i s uniquely positioned to capitalize on this growth

Accord ing to recent economic data, the Philippines is one of the fastest growing economies in Southeast Asia, with its gross domestic product expanding by 5.7 percent in the first quarter of the year F ur t h e r mo r e, Belan i sa i d a you ng popu lat ion presents a fe rt i le g rou nd for i nnovat ion and

“You h ave an economy t h at’s growing, and you also have an economy that’s young. Entrepreneurs should look at capitalizing on this growth,” Belani advised.

“As ever y economy grows, there are typically ser vices or problems that emerge, which founders can capitalize on.”

For the Philippines to enhance its competitiveness in the startup space, founders need to identify and address market gaps effectively. This involves understanding the evolving needs of a more affluent and discerning market and developing innovative solutions that cater to these demands.

“The goal is for founders to look at where areas have gaps. In a different sector they are building for how can they capitalize on an increasingly affluent market? And how can they build products and services that cater to increase appetite for new things?” Belani said.

The long-term outlook for Philippine startups appears promising, especially with a balanced approach to growth and profitability.

“I’m definitely bullish and excited about the future of Philippine startups,” Belani said.

“The key for companies is to continue balancing growth with profitability.”

When ‘the incubator’ works truly well, even small businesses will survive: a pandemic success story

IBy Mila M. Lumactao

N the worst days of Covid-19, the economic impacts rippled ruinously across communities throughout the Philippines. Such was the case of an entire farming community in barangay Zumigui in Luna, Apayao, which struggled as selling prices of their traditional monocrop product—rice—kept dropping.

The Dumapay family, rooted in the community, enjoined their relatives, lifelong friends, and neighboring farmers to revisit another product naturally abundant in the area but largely ignored: coconuts.

Fast for ward to April 2022, and Dumapayao Farms Cor poration (DFC) was born: with a company brand fusing family name and their treasured Apayao heritage, and the proponents and co-founder Reynold and Judith Dumapay envisioning, “to honor God as we enable farmers in the countr yside to experience a better life through sustainable secondar y crops.” Regionally, DFC has effectively pioneered high-value coconut-based production and processing in Apayao; over the long-term, DFC seeks to establish Apayao as the “Coconut Capital of the North.”

Enter the incubator BUCKING twin challenges—the typical attrition rate of Philippine MSMEs, and the cumulative economic effect of the pandemic and lockdown measures— Dumapayao Farms found a wholistic enabling environment. First to throw support was the local government, led by the office of Mayor Josephine Bangsil of Luna, Apayao; Rep. Eleanor Bulut-Begtang, the lone congresswoman of the province, and the Provincial Government of Apayao, led by Gov. Elias Bulut Jr

Because the company was new to its first and flagship product, Virgin Coconut Oil (VCO), national government representatives filled in crucial gaps. The Department of Agriculture (DA) provided the list of accredited suppliers of the VCO cold processed machines, and assisted DFC’s participation in the 2023 Philippine Food Expo Exhibition.

An attached cor poration of the DA, the Philippine Coconut Authority spearheads the development of the countr y’s coconut and other palm oil industr y to their full potential. The Dumapays’ firm, now registered under the PCA, has a suite of benefits, including access

to important updates (especially trade trends and policies) on the local and global coconut markets, and support in terms of endorsement to potential domestic and foreign buyers.

For its part, the Department of Trade and Industr y’s DTI-Cordillera Administrative Region (CAR) office offered robust support, including intellectual property training to protect the firm’s corporate and product brands (Dumapayao Farms Corp. and Zumigui Gracefield, respectively).

For act u al product development, marketing, and distribution support, the DTI backed DFC via three programs in the agency’s extensive assistance ecosystem: DTI Apayao’s ONE TOWN, ONE PRODUCT (OTOP) Philippines, a priority stimulus program for that endeavors to capacitate MSMEs—“OTOPreneurs”— to innovate and produce market-ready products and ser vices; ARISE Plus Philippines, which aims to foster inclusive economic growth and poverty reduction in the through improved international trade performance and competitiveness; and, through efforts of the Export Marketing Bureau The DTI also brought in DFC to form part of the CAR contingent in regional, national, and internationalscale events, the most recent being the International Food Exhibition (IFEX) Philippines held last May 10-12. The Department of Science and Technology (DOST), meanwhile, prov ided technical assistance: earlier on DFC’s coconut vinegar production, and most

recently, for the development of the Zumigui Gracefield all-natural coconut flour product. DOST funneled the latter grant through its Small Enterprise Technology Upgrading Program (SETUP). Equally important, the agency, particularly through its DOST Apayao office, also provides training and mentoring for the DFC farming and production team, the majority of whom are members of Apayao’s local Indigenous People (IP) community. From ‘crab mentality’ to ‘coconut mentality’ EVEN with multi-agency and LGU support, however a number of businesses fai to thrive due to unfair practices of direct competitors: another example of the notorious Filipino “crab mentality” of pulling

others down. However, DFC’s Reynold and Judith Dumapay discovered to their relief and surprise that the Philippines’ main trade group for VCO, Virgin Coconut Oil Producers and Traders Association of the Philippines Inc. (or VCO Phi ippines), were, in their own experience, incredibly supportive, and we received a lot of mentoring, and even practical tips such as the distinctions between [VCO centrifuge] machine types and brands.”

Also a welcome partner in the entire growth journey for MSMEs such as DFC: large enter prises and their Cor porate Social Responsibility (CSR) arms that invest in other forms of capability building. In DFC’s case, BPI Foundation, Inc sponsored mentoring sessions through its BPI Sinag Synergy business challenge for social enter prises. DFC emerged as one of the top 25 out of the initial field of 59 finalists, and thus qualified for the program’s Online Bootcamp.

Luna’s local brand meets global markets

AS a relatively new social enter prise rooted in the second-class municipality of Luna, Apayao, DFC further benefited from the two-pronged support from DTI—through the agency’s on-ground,

THE enterprising Dumapay couple, Judith and Rey, stand in front of their IFEX booth, proud visionaries for a progressive Cordillera. CONTRIBUTED PHOTO

THE Dumapay Farms Exhibit at the IFEX showcasing its best sellers: Zumigui virgin coconut oil and coco vinegar. CONTRIBUTED PHOTO

BTr sells ₧22.7B in T-bonds

By Cai U. Ordinario @caiordinario

THE national government failed to raise P30 billion from the auction of 20-year Treasury bonds (T-bonds) on Tuesday, according to the Bureau of the Treasury (BTr).

The Auction Committee accepted P22.72 billion worth of bids for the bonds during the auction out of the P37.92 billion worth of tenders received.

The BTr said the Auction Committee rejected P15.2 billion worth of bids on Tuesday.

“The Auction Committee partially awarded the new 20-year Treasur y Bonds at today’s auction, setting the coupon rate at 6.875 percent,” BTr said.

“The auction was 1.3 times oversubscribed as total submitted bids amounted to P37.9 billion,” it added.

The 20-year bonds are expected to mature on May 23 2044. The issue fetched an average interest rate of 6.797 percent.

During the auction, the highest

By Jovee Marie N. dela Cruz @joveemarie

HOUSE Committee on Ways and Means Chairman Joey Sarte Salceda on Tuesday said the depreciation could have “mild to moderate impacts” on inflation.

Salceda made a statement in response to the Philippine peso drop-

interest rate fetched by the Treasur y bonds was 6.95 percent while the lowest was 6.6 percent.

Ea r l ie r g ross borrow i ngs by t he nat ional gover nment fell to P830.389 billion as of the first quarter, down by 12.41 percent from a year ago, due to the state’s reduced reliance on foreign lenders.

Latest data from the BTr showed the state’s gross borrowings dipped by P117.701 billion from P948.09 billion posted from Januar y to March last year Of the P830.389-billion g ross borrowings for the quarter the bulk or 85.87 percent went to domestic borrowings, reaching P713.132 billion. The remaining 14.12 percent went to exter nal borrow i ngs at P117.257 billion.

ping past the key 58-per-dollar level as he weighed in on the economic implications. However the economist-lawmaker cautioned against overreacting and depleting the countr y’s foreign reser ves to counter the trend.

“It could have some mild to moderate impacts on inflation. But I’d caution against overreacting and using up our foreign reser ves to fight the trend,” he said.

“Apart from the fact that that is usually a futile exercise, we need to mind our reser ves during this volatile global trading environment,” he added. He suggested that the countr y focus on bolstering its economic sectors to mitigate the effects of the peso’s depreciation.

“W hat we could do is boost our expor ts [which g rew well during

billion, based on Treasur y’s data.

last quarter’s GDP report] encourage OFWs to invest in the countr y more, and strengthen our BPO and other dollar-earning domestic sectors. Let’s just make the most of the situation,” Salceda added.

Salceda also noted the importance of strategic economic adjustments over short-term inter ventions, emphasizing the need for resilience in the face of global economic volatility.

DA: El Niño-hit farmers get indemnity checks

TBy Ada Pelonia

HOUSANDS of farmers have received indemnity checks amounting to P214 million from the Philippine Crop Insurance Corp. (PCIC) as compensation for the damage caused by El Niño, according to an official from the Department of Agriculture (DA).

“The amount is for the insurance claims of 28,084 farmers all over the countr y,” Agriculture Assistant Secretar y and Spokesman Arnel de Mesa told the BusinessMirror in an inter view last Monday.

De Mesa also said farmers should apply for PCIC’s insurance cover as their inclusion in the Registr y System for Basic Sectors in Agriculture (RSBSA) does not mean that they are automatically insured.

Hindi ibig sabihin na registered ka sa RSBSA eh automatically insured ka so kailangan

for those three hectares and above kailangan pa rin nila magbayad ng certain amount [Premium is free for those tilling three hectares and below, but for those tilling more than three hectares, they will have to pay a certain amount],” he added.

In the DA’s latest report, the damage caused by El Niño has climbed to P9.5 billion, affecting 175,063 farmers and fishers in 163,694 hectares of agricultural areas.

Marcos recently issued Executive Order 60 which reverted the PCIC to the DA, citing the need for “a strong organizational link between the PCIC and DA…with policies and programs aimed at ensuring food security and modernization of agriculture.”

PCIC, established in 1995 as a government-owned and -controlled cor poration (GOCC), was originally attached to the DA, compensating farmers against losses from natural disasters, pests, and diseases.

In September 2021, former President Rodrigo Duterte ordered the transfer of the PCIC to the Department of Finance (DOF) following the recommendation of the Governance Commission for GOCCs to rationalize and centrally monitor the insurer’s operations as well as for policy and program coordination.”

“We are pleased that the PCIC is back under the wings of the DA. This gives us the scope to assure farmers, livestock and poultr y raisers, aquaculturists, and others in production side so we could shield them from losses that may be caused by disasters, pests, and diseases,” Agriculture Secretar y Francisco Tiu Laurel Jr said in a statement.

Unlocking investment opportunities and navigating Group tells BIR to plug revenue leakages

THE Financial Executives Inst i t u te of t h e Phi l i pp i nes (Finex) partnered with global law firm Latham & Watkins in hosting a forum on “Unlocking Philippine Investment Oppor tunities in the Year of the Dragon” last May 16 at Shangri-La BGC in Taguig City.

Fi nex President Au g u sto Bengzon welcomed t he foru m pa r t ic ipants prior to t he mor ning keynote add ress of Depa r tment of Fi nance (DOF) Undersec reta r y Renato Reside, who spoke about t he DOF’s role i n suppor t i ng t he g rowt h of Fi l ipi no compan ies.

T hi s was followed by a panel d i sc u ssion on t he latest t rends, i ssues, and st rateg ic approac hes i nvolv i ng foreign i nvestments i n t he Phi l ippi nes. Panel i sts came f rom Globe Telecom, Navega r, Morgan Stanley, and Romu lo Law.

Anot her keynote add ress was del ivered by Phi l ippi ne Stock Exc h ange ( P SE) Pres ident Ramon Monzon, whic h set t he tone for t he panel d i sc u ssion on local, reg ional, and du al l i st i ngs w it h panel i sts f rom PSE, V i sta Land, UBS Si ngapore, and Picazo Law.

T he after noon session on t he “State of t he Phi l ippi ne Energy

THE Action for Economic Reform (AER) said the Bureau of Internal Revenue (BIR) must intensify its tax collection and administration efforts and to step up its campaign against the trade of illicit tobacco and vape products.

Baños Assistant Professor Ju lieta A. Delos Reyes said smuggling losses of the tobacco industr y amounted to $224.586 million between 2018 and 2022.

Sit u at ion” was keynoted by Depa r tment of Energy (DOE) Sec reta r y Raphael Per pet uo Lot i lla, who compa red t he c urrent problem of u nder -capac ity w it h hi s f irst st i nt as DOE c hief i n t he m id-2000s, w hen t he i ss ue t hen was ove rcapac ity.

A panel d i sc u ssion on explori ng t he real potent i al of renewable ene r gy i n f u lf i ll i ng t he Phi l ippi nes’ f ut ure needs feat ured panel i sts f rom ACEN, Aboit i z Power, Bank of America Hong Kong, and D iv i na Law. Depa r tment of Transpor tat ion Unde r sec r eta r y T i mot h y Jo h n Batan del ivered t he f inal keynote add ress on t he “State of t he Phi l ippine Econom ic and Inf rast ruct ure Situation.” His talk was a prelude to t he panel d isc ussion on t he latest t rends influenc ing inf ra projects and investments that involved panel ists f rom Phi lTower, Prime Inf ra, Ayala Cor p., and SyCip Salazar Law. To w rap up t he foru m, speakers f rom San M ig uel Cor p. and Lat ham & Watk ins d isc ussed t he latest developments in t he internat ional a rbit rat ion space w it h a pa r t ic u la r foc us on mergers and acquisit ions as well as investmentrelated d isputes. High l ight ing t he f u ll-day conference for many of

t he attendees were t he sessions on cross-border investments, sustainable energy, and private capital. Meanw hi le, S i ngapo r e-based tec h f ir m Has h stacs P te. Ltd. (STACS) and Global Compact Netwo r k Phi l i pp i nes (GCN P) h ave joi ned forces to help Fi l ipi no bu sinesses i n nav igat i ng Env ironmental, Soc i al, and Gover nance (ESG) reg u lat ions t hrough a su sta i nabi lity workshop last May 15 at t he Ayala Triangle Ga rdens Tower Two. T hr o u g h t h e ir pa r tne r s hi p, t he ESGped i a d ig ital platfor m of STACS w i ll enable GCN P ’s ecosystem of bu si nesses to easi ly k icksta r t t he ir ESG repor t i ng jour ney, espec i ally t he small and med iu m enter pri ses (SMEs) t h at accou nt for 99.5 percent of ex i st i ng bu sinesses i n t he cou nt r y. Am i d u pcom i ng r eg u lato r y r e quir ements, SMEs a r e u nde r i nc reas i ng press ure to embr ace su sta i nabi l ity repor t i ng and f u ll s u pply c h a i n t r anspa r ency. In 2025, t he Sec urit ies and Exc h ange Comm i ss ion (SEC) w i ll r e quir e publ icly l i sted compan ies to u se t he Susta inabi l ity Repor t ing For m (S u Re), w hi c h i s sc h ed u led fo r lau nc hi ng later t hi s yea r STACS w i ll i nteg rate t he Su Re

For m i nto its ESGped i a repor ti ng platfor m. T hi s tool sh all be i n t he for m of a d ig ital assessment —equipped w it h g uidance notes to p r ov i de add it ional i nfo r ma-

t ion to bu si nesses on d i sclosure requirements.

SEC Director for Cor porate Gover nance & Fi nance Rac hel Remalante expla i ned t he su sta i nabi l ity repor t i ng ru les for publ icly l i sted compan ies u si ng t he Su Re For m, whic h w i ll become mandator y i n t he next two yea rs. GCPN Chair person Ma. Victoria Tan said: “In the Philippines and across Asia, the reg u lator y landscape surrounding ESG is rapidly evolv ing, reflect ing t he g row ing recognition of sustainability as a critical driver of economic development.”

For hi s pa r t, STACS Manag i ng D irector Benjam i n Soh bel ieves t h at “d ig ital enablement i s key i n helping companies and SMEs nav igate t he evolv i ng ESG reg u lat ions and ma i nta i n compet it iveness i n t he global supply c h a i n.” As a network u nder t he Un ited Nat ions Global Compact, GCN P i s pa r t of t he world’s la rgest corpor ate s u sta i nab i l ity i n it i at i ve. T hi s global movement h as more t h an 20,000 bu si nesses, f ive reg ional hubs, and over 60 nat ional networks coveri ng 167 cou nt ries.

Joseph Gamboa is the vice-chair of the Finex Ethics Committee and director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the B USINESSM IRROR . #FinexPhils   www.finex.org.ph

T his is crucial, AER said, because the Depar tment of Finance (DOF) has recently said it has no plans of increasing sin taxes amid a decline in the amount collected from alcohol and tobacco excise taxes.

Earlier, Finance Secretar y Ralph G. Recto told BusinessMirror that the gover nment’s revenue collection cou ld drop this year due to the slowdown in household consumption, including spending on v ices. (See: https://businessmirror.com.ph /2024/05/16/revenue-take-may-dip-on-slowerspending/).

“As the economy grapples w ith a tightened fiscal space and a large debt-to-GDP ratio, it all the more becomes critical for the revenuecollecting agencies to plug revenue leakages,” it said.

T he nongover nment organization also said the illicit tobacco trade is not just an issue of foregone revenues for the gover nment but also a public health and safety concer n.

“T he products circu lating as a resu lt of this trade lack the necessar y identifiers and tax stamps, and have not undergone the testing mandator y to ensure that they obser ve food and drug safety standards,” it added.

Meanwhile, in a separate statement, Agricu ltural Economist and University of the Philippines Los

T he amount covered 41.18 million k ilograms of illicit tobacco and vape products that circu lated nationw ide between 2018 and 2022.

T he est i mates were pa r t of Delos Reyes’ st udy t h at hig hl ig hted t he i mpor tance of a collaborat ion between t he Nat ional Tobacco Adm i n i st rat ion, t he academe, local fa r mers’ assoc i at ions, and t he Depa r tment of Trade and Indu st r y to combat tobacco smu ggl i ng.

“To effect ively combat smuggl ing act iv it ies, t he academe shou ld spea rhead resea rc h on tobacco value-add it ion and tec hnical eff ic iency st ud ies to assess how fa r mers’ incomes can be improved g iven t heir l im ited resources,” added Dr Delos Reyes.

“T his st rategy has t he potent i al to benef it fa r mers, d iversify indust r y offerings, and m it igate t he impact of global smok ing bans.”

Delos Reyes also recommended the conduct of technical efficiency studies to assess how far mers’ incomes can be improved g iven their limited resources. With these measures implemented, she anticipates that the missed oppor tunities for potential innovations and suppor t that cou ld have been f unded by the gover nment, such as the Universal Health Care program and employment and livelihood assistance in tobacco-producing reg ions, w ill be addressed. Cai U. Ordinario

BUSINESSMIRROR file photo FINEX FREE ENTERPRISE

Joseph Araneta Gamboa

Cebu Pacific honors top PHL, intl travel agencies at 18th Eagle Wings Awards

Get it done. How to overcome procrastination

ONE-MAN SHOW OF FERNANDO C. MODESTO

A MEMBER of the country’s artistic community since the early 1970s, Fernando Modesto was born in 1952. His work is characterized by a style that is irreverent, whimsical and colorful.

The study of Indonesian culture that Modesto did in Jakarta during the two decades when he and his family were based there, resulted in the formation of his visual sensibility. As a recipient of a scholarship from the British Council, he attended the Central School of Art and Design in London in 1982.

The exhibition Looking Back, which is Modesto’s first exhibition since Covid-19, is a celebration of the artist’s unconventional and zany approach to art and painting. It takes viewers on a joyful journey through seven decades of colorful and eccentric creations.

The transformative nature of the theme is highlighted by the artist’s life and work, which together span five decades from his one-man show at the CCP which sold out in 1972. When one examines Modesto’s body of work through the lens of abstract expressionism, one is able to observe the evolution of his artistic style, technique and vision over the course of his career.

The artist Modesto’s exhibition in Galerie Hans Brumann in Legazpi Village, Makati, ongoing until June 30, 2024 which follows the development of his art alongside his personal life, is centered on the concepts of time, creativity and the artist’s never-ending search for self-expression. These are all themes that run throughout the exhibition.

PHOTO BY NUBELSON FERNANDES ON UNSPLASH

PHILIPPINE RAILWAY DEVELOPMENT PLAN IS KEY TO ECONOMIC PROGRESS

Iate sectors emphasized the transformati v e impact of this endea v or stating, “T he Phi l ippine

Rai lw ay De v e opment P l an is not just about bui l ding tracks; it s about bui l ding the foundation to a brighter future for our nation. By in v esting in modern and re iab e rai l systems p l us techno l ogy transfer , w e are l aying the foundation for economic gro w th food security en v ironmenta l sustainabi ity, impro v ed producti v ity and qua ity of ife for a ll F i l ipinos.” One of the t w o major rai lw ay f l agship projects to be un v ei ed soon is the N orth L uzon Rai lw ay Project a so kno w n

ery of

and

in N orth

uzon and in Mindanao. The Phi ippine rai lw ay p l ans extends its reach to underser v ed regions , w ith p l ans to construct ne w ines in Bico l, Pa a w an and Visayas. T his inc l usi v e approach aims to bridge the gap

MRai lw ay Academy in 2032 future F ipinos w ll be se f - re l iant and capab l

of doing design and de v e l opment , construction , operate and manage ne w and existing rai lw ay system on their o w n. T hese t w o major rai l projects ha v e garnered w idespread support from both the pub l ic and pri v ate sectors w ith internationa l partners from Korea Singapore , J apan , E urope and the U nited States expressing sincere interest in co ll aboration and in v estment. With the Korean E xim Bank signifying strong support for the Amianan E xpress project other internationa l partners are expected to fo ll o w soon. As construction commences and ne w ines become operationa l, F i l ipinos can ook for w ard to a future characterized by efficient affordab l e and en v ironmenta ll y friend y transportation options.

As the Phi l ippines embarks on this historic journey to w ards a modernized rai lw ay net w ork it sets a precedent for sustainab l e de v e opment and progress in the country. With inno v ation dri v ing e v ery rai l aid and e v ery station bui l t the nation stands poised to reap the benefits of this transformati v e endea v or for generations to come.

to about 50 percent. T he initiati v e marks the beginning of G SM I’s many efforts to l essen the use of p l astic across its product l ine. I n the next fe w months other G SM I brands w i ll fo ll o w, inc uding G SM I’s f agship brand , G inebra San Migue Vino Ku l afu ’s ( 350 m L) p l astic Sea l- O - Band ( SOB ) w ll be shorter and its thickness reduced , making it 0.22 grams ighter. With the effort , Vino Ku afu s annua tota p astic footprint w i ll be reduced by a l most ha l f or 4 9 percent equi v a l ent to 11 metric tons each year. As a eader in the Phi ippine

Editor: Tet Andolong

Happy days for the F&B and fashion retailers

By Rizal Raoul S. Reyes @brownindio

F&B and fashion retailers continue to lord it over the retail space take-up. Meanwhile, the boom in the local retail sector has also gotten a great degree of attention from foreign retailers that are checking out the scenario in the regional and super regional malls.

From Q4 2023 to Q1 2024, Colliers Philippines director for research Joey Roi Bondoc said they monitored the completion of regional and super-regional malls. “From 2024 to 2026, the Bay Area and Quezon City will contribute to the new retail space completion,” Bondoc pointed out.

“For the Metro Manila retail sector, innovation is the name of the game. We see aggressive transformation of retail spaces as operators scramble to attract new foreign retailers and sustain footfall. Expect more refreshed leasable spaces in the years to come. Retailers are also likely to be more strategic especially with transit-oriented retail becoming the norm, Bondoc added.

Bondoc also stressed the need to relocate in transit-oriented retail spaces.

In 2023, Colliers observed that some local and foreign brands transferred from standalone malls in Metro Manila to transit-oriented retail spaces like One Ayala. Colliers believes that more foreign and local retail tenants are likely to gravitate towards transit-oriented retail spaces for the remainder of 2024.

Adding excitement to the local F&B sector

MALAYSIABASED ZUS Coffee is one of the foreign players that has recognized the growth of

the local F&B market. The coffee startup says it will open 150 outlets this year as part of its rapid expansion in the local market.

Venon Tian, COO of ZUs Coffee, told reporters that the support of their local partner has built up their confidence on the local market.

“We would like to commend the support of the Lao family for their valuable support,” Tian said in an interview on the sidelines of their latest outlet in SM Makati. ZUS Coffee currently has 12 branches in the country.

“Our growth stems from understanding our customers’ needs,” said Tian, emphasizing ZUS Coffee’s mission to blend premium quality with accessibility.

Tian said ZUS is adopting a different marketing strategy in promoting their products. Having worked with tech startups. Tian said ZUS Coffee is implementing an app-driven marketing strategy.”Before launching our coffee brand,” we have already been developing the app,” he said.

He said ZUS Coffee wants to be known more as an e-commerce brand that uses technology to push the brand.

Since its inception in 2019, ZUS Coffee experienced a meteoric rise in innovation, accessibility, and swiftly expanding to over 400 stores in just five years in Malaysia. “ZUS

NEXTASIA Land eyes P7.7 billion in revenue for new residential projects in South Luzon

By Roderick L. Abad

REALESTATEcompany NEXTASIA Land Inc. has simultaneously unveiled three residential projects in South Luzon, which are expected to generate a total of P7.7 billion in revenue.

Spanning a total area of 30 hectares (ha), the upcoming horizontal developments are Estonia Calamba (5 hectares) that boasts of a modern living experience, offering 500 house and lot units; Florence Lipa (10 hectares), which features innovative lifestyle amenities, with 1,088 units; and Cyprus Calauan (15 hectares) that sets a new benchmark for integrated community development, with 1,500 units.

All these developments located in Laguna and Batangas are catered to primary users, either newlymarried couples, singles or starting families, hence, lot cuts range from 36 square meters (sq m) to 75 sq m, and prices are between P1.6 million up to P2.5 million. Each project combines modern amenities and facilities with serene surroundings, ensuring residents enjoy an unparalleled quality of life.

“At NEXTASIA Land, we go beyond mere development; we craft harmonious living spaces that enrich the lives of our residents,” NEXTASIA Land President and Chief Executive Officer Cris Carreon said during their launch event held at the Shangri-La The Fort in Bonifacio Global City, Taguig last May 16.

The debut of these residential communities supports President Ferdinand “Bongbong” Marcos Jr.’s agenda to address the country’s current 6.5 million housing backlog.

“Through these projects, we are not only addressing the housing needs of the region but also contributing to the overall progress of the nation,” he noted.

Promising developments

NEXTASIA Land’s three groundbreaking residential communities in the South Luzon region redefine what sustainable urban living is and set a benchmark for modernity in residential spaces.

According to NEXTASIA Land Chief Operating Officer (COO) Dustin Y. Carreon, the company integrates all of its “green” initiatives, from high-speed broadband Internet access to solar-powered street lights and provision for electronic vehicle charging stations. What’s more, sustainable construction materials are being utilized like the load bearing block, which uses less steel and is three times stronger than

traditional ones.

In a sideline interview, he told reporters that Estonia and Florence will start construction in 2025, including turnover of house and lots until the following year. Cyprus will commence with the building of houses in 2026, alongside the turnover that will last until the succeeding years.

Takeup-wise, the COO bared that Estonia is already “30 percent to 50 percent” sold, as they are just about to begin pre-selling Florence and Cyprus in June and July of this year, respectively.

Looking forward, Dustin anticipates their latest ventures to generate an additional 30 percent in the company’s topline, as 70 percent of the projected combined revenue of P7.7 billion represent the overall investments for the three projects. He broke down the aggregate revenue contribution into P3.7 billion courtesy of Cyprus, P2.5 billion from Florence, and P1.5 billion to be accounted for by Estonia.

“It’s still a good revenue in our segment,” he said, while citing that they will continue to build low-cost housing in South Luzon areas where the demand for innovative dwelling solutions continues to rise.

“So far, the addressable market there is still really big. Even if there are a lot of competitors or developers in the same city, still the demand for housing is there. Actually, many have approached us to do projects in Dumaguete, Davao, etc. But for now [and] in the next years, we’re still [continuously developing] in Southern Luzon,” he stressed.

Coffee is a necessity, not a luxury, which is a driving factor for us to tirelessly make specialty coffee accessible from the perspective of price point, taste, and location,” emphasized Tian.

With the ZUS app, Tian said customers have complete control over their coffee experience, from taste to temperature and order time.

He said ZUS Coffee specializes in locallyinspired specialty coffees, including Filipino favorites like hot and iced Spanish Latte and Gula Melaka, alongside an exciting array of Buttercreme Lattes, Frappes, and more.

A brew-tiful beginning

RACHEL FALLARME,Senior Vice President and Chief Operating Officer, Bo’s Coffee, told the BusinessMirror in an interview the growing demand for quality and affordable coffee had led the company to broaden its reach in the local market. Right now, DAILY has 150 branches and projects that it will overtake the number of branches of its older sibling Bo’s Coffee next year.

Born in May 2020 at the height of the pandemic, DAILY is the younger sibling to Bo’s Coffee, the nation’s largest homegrown coffee chain, which has been putting the spotlight on Philippine coffee for 28 years. It was created to cater to the market’s evolving needs, a demographic that’s always on-the-go and needs a beverage to keep them on their toes.

Leveraging Bo’s Coffee’s expertise in the industry with a hefty dose of customer experience, DAILY capitalized on the emerging popularity of iced and blended coffee globally. “We started with 10 cloud stores in 2020, all of which were operating at Bo’s Coffee locations to serve grab-and-go coffee. By 2021, we already had 40 cloud stores across Metro Manila and Cebu,” said Fallarme. She says DAILY was launched as a response to providing accessible coffee for the daily needs of the tech- and social media-savvy set, who have always relied on the digital space for almost everything. Apart from its official Facebook page, customers were also able to order via delivery apps, making coffee drinking as convenient as ever. A young brand with a cool, playful vibe, she believes DAILY immediately struck a chord with Gen-Zs, young professionals, and college students who love affordable but quality handcrafted iced and blended coffee. As this market segment leads a fast-paced life, DAILY’s on-the-go coffee became an instant hit.

Exploring the wonders of Puerto Princesa

THE beautiful city of Puerto Princesa continues to impress not only as a premier tourist destination but also as the thriving, highly urbanized capital of Palawan province.

With its pristine beauty and rich natural resources, travelers seeking unparalleled experiences and promising adventures are attracted to the Philippines’ largest city. World renowned destinations such as the iconic Underground River, a Unesco World Heritage site, can be found here, among other equally famous attractions.

At the same time, Puerto Princesa attracts investors and companies wanting to expand to this city. Its improving infrastructure, peace and order situation, and ease of doing business are helping boost the influx of investors here.

Intensive efforts by the local and provincial governments are now turning Puerto Princesa into a true model city in terms of security, cleanliness and nature preservation.

While much has been done, there seems to be no stopping the LGU as its programs are now focused on ensuring that government services will be more accessible, and that economic progress will be sustained in the city and the whole province.

Indeed, many are finding even more reasons to visit Puerto Princesa City— a model city, a conducive hub for businesses, a tourist destination in itself, and the perfect jump off point to a host of adventures in Palawan. Tourists can also explore the pristine beaches, historical sites, food joints and rainforests in this tropical paradise.

If you’re planning to visit this city any time soon, consider these gems as you explore the wonders of Palawan.

Puerto Princesa Subterranean River National Park

CONSIDERED the longest navigable underground river in the world, it flows directly underneath St. Paul Mountain Range, passing through caves and rock formations.

Honda Bay ISLAND hop and explore beautiful islands including Starfish Island, Snake Island and Pandan Island. You can snorkel or just laze around the beach and be one with nature.

Crocodile Farm and Nature Park

KNOWN as the Palawan Wildlife Rescue and Conservation Center, this DENRmanaged park is home to endangered species of crocodile, including the saltwater crocodile and the endemic Philippine freshwater crocodile.

City tour

EXPLORE more of the city by going to Baker’s Hill, where you can get some delish pasalubong like hopia and crinkles; Butterfly Garden; Palawan Museum; and Ihawig Firefly Watching. And if you’re

FROM left: Karl Michael Perez-Operations Support Officer; Laine Vallar-AVP-Director

Rain Ramos-Digital Marketing Manager; Rachel Fallarme-SVP-COO; Shyla Ngo-Brand Lead; Jason Carl Vasquez-Coffee Master

Rafa in French Open: Will he or will he not?

ARIS—Rafael Nadal returned to Roland Garros on Monday to practice and try to figure out whether to compete at the French Open, a tournament he has won a record 14 times.

tomorrow, and in one week,” Nadal said in Rome. “If I feel ready, I [am] going to try to be there and fight for the things that I have been fighting [for] the last 15 years, [even] if now [that] seems impossible.”

into tennis will now include a multiyear deal to sponsor the Women’s Tennis Association (WTA) women’s rankings.

THE Gilas Pilipinas U18 women’s team will be tested right away as it faces host Thailand in a must-win opener of the Southeast Asia Basketball Association (SEABA) U18 women’s tournament which kicks off Friday in the province of Ratchaburi.

The 6 p.m. game (Manila time) against the Thais serves as the outright gold medal play as the two other participating teams in Malaysia and Indonesia have already qualified to the FIBA U18 Women’s Asia Cup Division A. The winner between the Filipinas and the host country will qualify to the FIBA U18Women’s Asia Cup Division B next month in Shenzhen, China.

The team will be leaving for Thailand on Wednesday.

“Playing against the host country and against Thailand, that would be tough,” said head coach Julie Amos of Gilas’ all-important game against the Thais on opening day. “As much as possible, we’ll dictate the tempo from the first quarter

until the fourth quarter.”

Gilas Pilipinas women’s team coach Pat Aquino said: “I’ve seen some of the names [Thai players] and some played previously in the U16. That’s the only thing we’ve known about them. They’ve been very secretive din.”

Samahang Basketbol ng Pilipinas (SBP) Executive Director Erika Dy accompanied Aquino and Amos in the weekly Philippine Sportswriters Association Forum on Tuesday at the conference hall of the Rizal Memorial Sports Complex together with the entire team led by captain Ava Fajardo.

The other members of the squad are Gabby Ramos, Naomi Panganiban, Alyssa Rodriguez, Jolzyne Impresso, Margaret Villanueva, Aubrey Lapasaran, Sophia Canindo, Ashley Abong, Tiffany Reyes, Venice Quinte and Margarette Duenas.

“As a team, we’re going to play to the best of our ability, play with our hearts, and hopefully, we can come up with the gold,” Fajardo, younger

Beermen try to move closer to Finals

SBy Josef Ramos

AN MIGUEL BEER shoots for win No. 3 on Wednesday against a back-against-thewall Rain or Shine to move closer to another Finals appearance in the Philippine Basketball Association Philippine Cup at the Dasmariñas City Arena in Cavite.

“We just have to keep our intensity high, keep pushing ourselves high,” Fajardo said. “We know Rain or Shine is capable of bouncing back and we expect them to play as a different team on Wednesday.”

Game 3 is set at 4 p.m.

Fajardo’s performance in Game 2 was another day at the office for Fajardo—22 points 18 of them he made in the third quarter, 10 rebounds and four assists in a 106-89 win. Rain or Shine’s frontline defenders—6-foot-7 rookie Keith Datu and veteran big man Beau Belga—were no match to Fajardo’s towering presence as the Beermen moved to a commanding 2-0 lead in

the best-of-seven series.

“I guess we just have to do the same in Game 3 and keep the energy up and keep on pressing the gas,” said Beermen coach Jorge Gallent, who got some sort of a scare in Game 1, 10198. “We did a better job compared to Game 1. We sprinted back on defense and got good shots.”

Rain or Shine’s guards Anton Asistio and Adrian Nocum made 20 and 17 points, respectively, in Game 3, but the Elasto Painters had 15 turnovers which San Miguel Beer converted to 18 points.

Barangay Ginebra San Miguel and Meralco, meanwhile, try to break a 1-1 tie in Game 3 of their own series at 7:30 p.m.

Meralco overcame Christian Standhardinger’s 41 points to beat Ginebra, 103-91, behind Allein Maliksi’s 25 points and Chris Newsome’s 20 points.

“They were successful of shutting everybody else down except for Christian,” Ginebra coach Tim Cone said. “We need contributions from everybody.”

Catantan’s all focused on Paris campaign

SAMANTHA CATANTAN is hoping for the best in her Olympics debut in Paris in July.

But Catantan will be in Paris unfazed.

“Nothing is impossible,” she told the weekly forum presented by San Miguel Corp., Philippine Sports Commission, Philippine Olympic Committee, Smart/

The 37-year-old Spaniard showed up late in the afternoon with his coach, Carlos Moya, and a couple of sparring partners at Court Philippe Chatrier, which was open to the public.

About 6,000 fans were there at the French Open’s main stadium, cheering loudly as Nadal stepped onto the court. After the practice, which lasted about an hour and a half, Nadal signed several autographs before disappearing through a doorway and into a tunnel that leads toward the locker rooms.

The training session gave Nadal a chance to reacquaint himself with the red clay at Roland Garros—he hasn’t played a match there in two years— and test his fitness.

The tournament begins on Sunday and it remains uncertain if Nadal will enter.

He is still regaining his match readiness after missing nearly all of 2023 with a hip injury that required surgery, and much of this season because of problems with a hip muscle and an abdominal muscle.

sister of national team member Ella Fajardo, told the session presented by San Miguel Corp., Philippine Sports Commission, Philippine Olympic Committee, Milo, Smart/PLDT, and the leading sports entertainment gateway in the Philippines ArenaPlus.

The team has been practicing twice a day as the tournament approaches and played tune-up matches against the Gilas women, Adamson University, Far Eastern University, National University and the University of the Philippines Integrated School.

After Thailand, the Philippines will play Malaysia on May 25 and Indonesia the next day.

“We hope they will play well in Thailand. The federation is here to support them with what they need, and we would love for them to come back with the gold medal,” Dy said.

His recent loss in his second match at the Italian Open—61, 6-3 against Hubert Hurkacz—left Nadal unsure about whether he would consider himself ready for the French Open.

As of Monday, Nadal still had not announced whether or not he would play in Paris. This is expected to be his final season on tour—and so this would be his final appearance at a tournament he has won more times than any other tennis player has won any Grand Slam title.

He won the French Open in 2022 for his 22nd major championship overall, which ranks second among men to Novak Djokovic’s 24. Nadal missed the French Open last year because of the hip.

Saudi Arabia

The WTA released word of its partnership agreement with Saudi Arabia’s Public Investment Fund (PIF) on Monday, a move that follows last month’s news that the kingdom will host the tour’s season-ending championships in Riyadh starting this year and February’s announcement that it will sponsor the ATP men’s rankings.

Both tours’ rankings deals are for five years.

The PIF is the first namingrights partner for the WTA rankings and the new arrangement also includes plans to promote tennis at lower levels of the sport.

“Let’s see what’s going on, how I feel myself mentally tomorrow, after

AVC Challenge Cup for Women on

VIETNAM opens defense of its title against former champion Hong Kong at the start of pool action in the Asian Volleyball Confederation (AVC) Challenge Cup for Women on Wednesday at the Rizal Memorial Coliseum.

The Vietnamese, who won its first Challenge Cup crown in 2023 in Indonesia, and 2022 winner Hong Kong clash in a Pool A match at 4 p.m. in the continental competition

have any control of,” said Catantan, who will spend the next couple of weeks practicing with members of the Philippine men’s team.

PLDT, Milo and the 24/7 sports app in the country, ArenaPlus. Catantan is not discounting the possibility of facing Maxine Esteban, her former teammate in the Philippine team who made it to Paris carrying the colors of Ivory Coast.

“It’s an external factor that we don’t

SMB lead looms

“Where ever we stand, we’ll be competing against the best and toughest in the world,” Catantan’s long-time coach, Amat Canlas, told Tuesday’s Philippine Sportswriters Association Forum at the Rizal Memorial Sports Complex.

Tennis has been consumed lately by the debate over whether the sport should follow golf and others in making deals with Saudi Arabia, where rights groups say women continue to face discrimination in most aspects of family life and homosexuality is a major taboo, as it is in much of the rest of the Middle East.

Chris Evert and Martina Navratilova are among those who urged the WTA to stay out of Saudi Arabia, while another former star player and Hall of Famer, equal rights pioneer Billie Jean King, advocated for engagement.

The WTA Finals will be in Saudi Arabia as part of a threeyear deal that will increase the prize money for this November’s season-ending championship to a record $15.25 million, a 70 percent increase from 2023. AP

Makati Shangri-La, Rebisco, Cignal, OneSports, OneSports+ and PilipinasLive.

hosted by the Philippine National Volleyball Federation (PNVF) headed by Ramon “Tats” Suzara. Singapore battles Kazakhstan at 10 a.m. in Pool B to be followed by India and Iran match at 1 p.m. in Pool A. Australia and ChineseTaipeitake the court also in Pool A at 7 p.m. in the event supported by Meralco, PLDT, Smart, Akari, AyalaLand, Nuvali, Foton, POC, PSC, Mikasa, Senoh, Asics, Maynilad,

The Pilipinas Alas—a team of Premier Volleyball League and University Athletic Association of the Philippines players—are in Pool A and will see action against Australia on Thursday night at 7 p.m. Indonesia, which also drew a bye, takes on Hong Kong 10 a.m. and Chinese-Taipei faces India at 1 p.m. in Pool A and Vietnam clashes with Singapore in Pool B at 4 p.m. also Thursday.

Del Rosario looks to steal thunder as LPGT action returns in Villamor

By Aldrin Quinto

PAULINE DEL ROSARIO tries the formula anew, this time to a little less fanfare.

Without the pressure of being defending champion, Del Rosario seeks a title in the Ladies Philippine Golf Tour (LPGT) at the spruced-up Villamor Golf Club while on a break from the Epson Tour.

Eyes will be on defending champion and money list leader Harmie Constantino when the 54-hole championship opens on Wednesday, while Del Rosario is back again to try and steal the show.

Del Rosario did it last year, when she took a break from the Ladies Professional Golf Association’s (LPGA) development tour and claimed the Caliraya Springs championship. She also got close to retaining that title in Cavinti, Laguna last month, before Constantino rallied in the back nine of the final round to take the win.

Del Rosario made the cut in her first six tournaments in the Epson Tour but had to withdraw from this week’s Copper Rock Championship in Utah due to a pollen allergy. She took a flight from Utah to compete in this week’s championship, the fourth leg of this year’s LPGT.

It will be a brief stay, and del Rosario is hoping to make it count as she prepares for her next Epson Tour event in Michigan next month.

“Villamor is very different than what we play on the Epson Tour, but I welcome that as a challenge,” Del Rosario said. “I love being at home and

with ticks to go. It was an entirely different result in Game 2, when the Beermen revived their vaunted firepower to bamboozle the Painters, 106-89, at the MOA Arena in Pasay. With such an outcome as emphatic as Minnesota’s shock dethronement of Denver in the National Basketball Association on Monday, I see not even an iota of doubt that San Miguel will not prevail again in today’s 4:30 p.m. game at Dasmariñas Gym in Dasmariñas, Cavite.

I’m glad the LPGT scheduled an event during my off-week.”

Constantino, on top of the Order of Merit after back-to-back titles at Palos Verdes in Davao and Caliraya Springs in Laguna, looks to notch a treble on a course where she trained as a top junior golfer.

Lois Kaye Go, meanwhile, is looking to finally earn a win on the LPGT. A member of the champion Philippine team in the 2019 Asian Games, Go hopes to clinch the evasive victory on the professional series organized by Pilipinas Golf Tournaments Inc. and supported by official apparel Kampfortis Golf. Go held the 36-hole lead at Palos Verdes only to falter in the end. The Cebuana finished tied for 10th at Caliraya Springs and was 22nd in the International Container Terminal Services Inc. (ICTSI) Luisita International, a co-sanctioned event by the LPGT and the LPGA of Taiwan Tour last month. Winner at Apo, Sarah Ababa seeks a return to the top after a runner-up finish at Palos Verdes and fifth place in Caliraya. She is running second on the Order of Merit.

Ababa defends men’s crown THE ICTSI Villamor Philippine Masters also unwraps Wednesday with a highly anticipated showdown in Villamor. Defending champion Jhonnel Ababa aims for a consecutive title, while Guido van der Valk seeks redemption and both Clyde Mondilla and Lloyd Go are determined to secure their second victories on the Philippine Golf Tour.

SMB’s killer offense has always been omnipresent as repeatedly demonstrated by June Mar Fajardo, CJ Perez and even the recovering Terence Romeo. Double-double outputs came from Fajardo with 22 points and 10 rebounds and Perez with 19 points and 11 rebounds.  Romeo had 16 points and five assists. “Two wins is nothing,” SMB coach Jorge Gallent said. OK, but how about three wins?  Kid me not.

THAT’S IT Jose “Boyet” Lim III’s “Rainbows of The Deep” is a book about survival and hope, and the true grit of a man too enamored with challenges, adventures and discovering the unknown—making