REVISITING CREATE LAW URGED FOR BETTER PERKS
By Andrea E. San Juan
THE Philippine Economic Zone
(PEZA)
“ We know that this is all a con cern of the industry, particularly on the [Bureau of Internal Revenue Revenue Memorandum Circulars] BIR RMCs which have been limit ing the grant of incentives to our locators,” PEZA Officer-in-Charge Tereso O. Panga said at PEZA’s 2022 Investors’ Recognition Day last Friday.
Panga said Trade Secretary Alfredo E. Pascual, who is also PEZA’s Chair man of the Board, will bring this up in the upcoming meeting with the Fiscal Incentives Review Board (FIRB).
We are discussing this with the BIR and we hope we will be sustained soon, that all these in
consistencies will be resolved; that will now allow for full retention of incentives particularly on the avail ment of zero-vat by our locators,” the PEZA chief added.
T he current head of PEZA re vealed that they have been getting a lot of complaints from locators, with some filing cases with the Court of Tax Appeals (CTA) already.
We’re forcing now the issue... we have the secretary now work ing on this. He has discussed this with the President. On one side, we’re also trying to get a favor able [Department of Justice] DOJ opinion,” said Panga.
MAJORITY of young Filipinos do not want to leave the country to find work, according to the YouthLed 2021 National Youth Survey.
T he data showed 33 percent of survey respon dents believe they have enough opportunities with in their city or province.
Further, some 23 percent of them think they may not have opportunities there but are open to consider those else where in the Philippines; while
20 percent know there are better opportunities abroad but are not keen to leave the country.
“ We conducted this survey to provide an in-depth profile and insights on the youth’s perspec tive today on democratic, civic, and political engagement; their values, motivations, and aspira tions; and their wellbeing and outlook in life since the last youth survey of this scale was conducted in 1996,” the report stated.
By Jovee Marie N. dela Cruz @joveemarie
THE leadership of the House of Representatives on Sunday expressed confidence that they will reach common ground with senators on the P77-billion institutional amendments by the House to augment the budget for education, health, transportation and other critical social services.
I n a statement, Speaker Martin G. Romualdez expressed confi
dence that the Senate contingent to the bicameral conference commit tee on the proposed P5.268-trillion 2023 General Appropriations Bill (GAB) will agree to the P77-billion revisions.
“ We really feel that these insti tutional amendments will redound to the benefit of the people,” Ro mualdez said.
“And we are confident that the Senate and the House bicameral [panel] members will see eye-toeye on this. Our objectives are the
same: to pass a people’s budget that reflects President Marcos Jr.’s 8-point economic agenda that will help the country bounce back from the pandemic,” he added.
F or his part, House Appro priations Committee Chairman Elizaldy Co said the House priori tized the welfare of the people when it included the P77-billion institu tional amendments.
“Our amendments can speak for themselves. You can see that it is indeed pro-people and pro-devel
opment as we prioritized health, education and transportation. We are confident that if the Senate and the House approve these amend ments, we can recover well from the pandemic in 2023,” Co said.
C rafted by the House, the insti tutional amendments are “ayuda” programs that will directly benefit the people, such as Department of Social Welfare and Development’s (DSWD) P12.5 billion broken down into: Assistance to Individuals in
w P25.00 nationwide | 2 sections 20 pages | n Monday, November 28, 2022 Vol. 18 No. 47
Authority
said there’s a need to revisit the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law to make fiscal incentives “more competitive.”
pinoys,”
See “House,” A2 See “Revisiting,” A2 YOUNG PINOYS NOT KEEN ON GOING ABROAD TO SEEK JOBS PESO EXCHANGE RATES n US 56.7900 n JAPAN 0.4097 n UK 68.7954 n HK 7.2733 n CHINA 7.9382 n SINGAPORE 41.2988 n AUSTRALIA 38.4071 n EU 59.1184 n KOREA 0.0428 n SAUDI ARABIA 15.1146 Source BSP (November 25, 2022) House, Senate seen to allow ₧77-B amendments ECOGREEN At the Rotary Club of Greater Mandaluyong Ecogreen Recyclers booth at the RCC Showcase 2022 in Bicutan, Taguig, old newspapers and used plastic softdrink bottles, spoons and forks get a new lease on life and are transformed by senior citizens of Marilao, Bulacan, into bags and Christmas ornaments. NONIE REYES BusinessMirror 2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion EJAP JOURNALISM AWARDS BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY 2018 BANTOG MEDIA AWARDS
See “Young
A2
Carriers, hotels: Brisk holiday travel as airfare cost steady
By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror
erties “are running full occupancy for the holidays. This means our guests have bought their tickets in advance and vacation plans will not be affected.”
S he noted, though, “The chal lenges will be for the coming months.” Bluewater Resorts are located in Cebu and Bohol. Mun sayac is also chairperson of the Hotel Sales and Marketing As sociation.
Vista Hotel and Pico Sands Ho tel, respectively.
DOLE gives workers with NOS P770M in monetary benefits
I n a text message to the Busi nessMirror , Xander Lao, Chief Commercial Officer of low-cost flag carrier Cebu Pacific said, “While the cost of aviation jet fuel remains a huge factor in our operations, we are happy that there is no need to increase the fuel surcharge for December. This is especially significant as we ap proach the Christmas season, and expect more passengers to travel again.” CEB has the largest domes tic network among local carriers.
H e made this statement in re sponse to the Civil Aeronautics Board’s advisory on November 20 that “the fuel surcharge lev el for 1-31 December 2022 will be maintained at Level 8…. For
fuel surcharge to be collected in equivalent currency, the applica ble conversion rate for the same period is 1 USD-58.72PHP.” In November, the applicable conver sion rate used was P58:05 to the greenback.
L evel 8 will allow carriers to im pose a surcharge between P253 and P787 on a one-way domestic ticket, and between P853 and P6,208 on a one-way international ticket, de pending on the distance from the port of origin to the destination.
More expensive outbound travel
MARGIE MUNSAYAC , Vice Presi dent for Sales and Marketing of Bluewater Resorts, said their prop
Young Pinoys...
The data also showed 9 percent said they do not have any opportuni ties for work or career in their city or
province so they are forced to work elsewhere in the Philippines. A nother 8 percent said they pre
F or her part, SM Hotels and Conventions Corp. Executive Vice President Peggy Angeles said their properties outside Metro Manila “are picking up well. Hopefully, the increase in airfares will not deter the trav elers from proceeding with their travel/vacation plans.”
S he noted, “It is still more expensive to go overseas, espe cially with the exchange rate. So my view is, revenge travel do mestically will continue.” Out side of Metro Manila, SMHCC has hotels in Bacolod, Clark, Davao, and Iloilo under the Park Inn by Radisson brand; in Cebu under Radisson Blu; as well as Tagaytay and Batangas as Taal
ferred working and living abroad than in the Philippines and 7 percent said they do not know where they can find opportunities for work.
Meanwhile, young Filipinos, 72 percent of those who responded to the survey, consider helping their
New local PAL routes MEANWHILE , pioneering flag carrier Philippine Airlines (PAL) said it will also be able to keep airfares at a manageable level for the public’s welfare. Spokesperson Cielo Villaluna said, “We have ongoing program partnerships which provide promo rates that help ease the burden among our customers.”
S he added, “We are ramping up flights in time for the holiday season. Travel appetite is evident as flights are generating high pas senger turnout….We are ramping up new flights from our Cebu hub. On December 1, we are opening the Cebu-Cotabato-Tawi-Tawi route. On December 9, we are re storing our Cebu-Bangkok route. By December 16, we will launch our Cebu-Baguio flights and on December 19, our Cebu-Borongan route.”
E arlier, PAL announced revised terminal assignments for termi nals 1 and 2 at the Ninoy Aquino International Airport.
parents and siblings as their main aspiration.
T he next overall most important aspirations and life goals identified were: to live independently from parents at 36 percent; to get a col lege degree, 29 percent; to start your own business, 28 percent; and to have meaningful work, 28 percent. Only 3 percent of respondents aspired to migrate to another country.
T he data also showed that of the aspirations and life goals that re late to community and country be yond self and family, 10 percent of respondents wanted to be of service to Filipinos.
T he survey results also showed that 5 percent aspired to be actively involved in volunteer work that they believe makes a positive impact.
“ The Philippine Development Plan captures the collective aspira tions of Filipinos towards a matatag, maginhawa, at panatag na buhay [sta ble, comfortable and peaceful life].
The 2021 national youth survey essentially confirms that these are also the aspirations of the Filipino youth,” National Economic and De velopment Authority (Neda) Under secretary for Policy and Planning Rosemarie Edillon said.
In addition, the survey provides valuable insights as we strive to engage the youth as we implement economic transformation for a pros perous, inclusive and resilient Philip pines,” she added.
T he Youth Leadership for De mocracy (YouthLed) and the Social Weather Stations (SWS) said Filipi no youth today are more optimistic about their future than 25 years ago.
T hree-fourths or 76 percent of the 4,900 Filipino youth surveyed said their personal quality-of-life will improve in the next five years, revealing a higher net optimism score than when the same question was asked in April 1996.
It revealed comparisons on the state of Filipino youth in 1996 and 2021 in the areas of personal health, pride in being Filipino, and satisfac tion in the way democracy works in the Philippines.
W ith the forthcoming Philip pine Development Plan 2023-2028, YouthLed and SWS presented in a re cent media briefing the results of the latest national youth survey provid ing an updated and comprehensive profile on the Filipino youth to the government, civil society, academe, private sector, and researchers.
Moreover, the survey also pro vides baseline information on the current trends that can inform in terventions for youth development.
D epEd Assistant Secretary Dex ter Galban and NYC Commissioner Representing Luzon, Reena Pineda, also weighed in on the importance of youth engagement in, highlight ing key points from the report that can inform future government pro grams on civic education and youth development. Cai U. Ordinario
OVER P770 million worth of monetary benefits were awarded to workers this year with the disposition of their Notices of Strike (NOS), according to the Department of Labor and Employment (DOLE).
I n the latest Alternative Dispute Resolution (ADR) report, DOLE’s National Conciliation and Media tion Board (NCMB) Executive Di rector Maria Teresita D. Cancio said the awarded benefits covered 7,203 workers.
T he NOS are filed by the sole and exclusive bargaining agent of the company (SEBA) on the grounds of unfair labor practice (ULP) or bargaining deadlock (BD) if they plan to initiate an authorized work stoppage.
It may also be filed by a legiti mate labor organization, but only for ULP cases.
D uring the first 10 months of the year, NCMB registered 25,871 workers, who were involved in the 143 NOS.
T his was 22 percent lower com pared to the 33,010 workers cov ered by 134 NOS in the same period last year.
Most or 112 of the filed NOS this year were already settled, or a 78-percent disposition rate.
Not all of the disposed NOS re sulted in the awarding of monetary benefits to workers.
C ancio said they also regis tered six actual strikes this year from SOCCSKSARGEN, National Capital Region, Northern Mind anao, CALABARZON and West ern Visayas.
O nly one case was due to a bar gaining deadlock involving allow ances, overtime pay, and holiday pay, while the rest involved un fair labor practices such as illegal dismissal or harassment of union members.
F our work stoppages were disposed of within the regular process cycle time of 40 days, while the remaining two are still pending. S amuel P. Medenilla
Last week, the PEZA chief said some locators have raised concerns, noting that they want the govern ment to have uniform, simple and transparent guidelines for the con duct, particularly on tax assessment. Panga said there’s a need to resolve issues of locators related to the BIR’s rules on zero value-added tax (VAT) rating incentive.
If BIR can be more proactive in assisting the locators in terms of compliance with documentary/au dit requirements. This is where the government can enhance the regula tory relief mechanism so locators can bring up their concerns with higher authorities other than the BIR and the [Court of Tax Appeals] CTA,” Panga told the BusinessMirror
Apart from ironing out locators’ concerns, Panga also noted the need to amend the PEZA law, a 27 year-old
law, particularly to institutionalize the work-from-home policy and the “rationalization” of requirements for ecozone proclamation.
We’re saying there’s a need to in stitutionalize WFH policy although this is already the direction so that both BOI and PEZA will be put on an equal footing, both can avail of WFH with incentives,” Panga said. Meanwhile, the PEZA chief also said, “We want rationalization of requirements for our ecozone proc lamation because it’s only PEZA that goes through the presidential proc lamation process.”
In the case of [Authority of the Freeport Area of Bataan] AFAB, [Tourism Infrastructure and Enter prise Zone Authority] TIEZA, they can designate areas as ecozones with out having to go through presidential proclamation,” Panga added.
Crisis Situations or AICS (P5B); upgrade of senior citizens’ pension through the National Commission of Senior Citizens (P5B); and Sus tainable Livelihood Program (P2.5B).
Co also cited the Department of Transportation’s (DOTr) P5.5 billion for programs addressing the rising cost of fuel like the fuel subsidy pro gram (P2.5B), Libreng Sakay (P2B) and bike lane construction (P1B); and the Department of Labor and Employment’s (DOLE) P5 billion for the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program (P3B) and liveli hood (P2B), also part of the direct benefit to the people.
O ther parts of the P77-billion in stitutional amendments are:
■ Department of Health’s (D OH) P20.25 billion allotted for various programs such as Medical Assistance for Indigent Patients (P13B), health care and non-healthcare workers and frontliners (P5B); support for spe cialty hospitals (P2B); and Cancer Assistance Program (P250M).
■ Department of Education’s (DepEd) P10 billion for the school and classroom construction and special education programs (P50M).
■ Technical Education and Skills Development Authority’s (TESDA) P5 billion for the training and scholar ship programs.
■ Commission on Higher Educa tion’s (CHED) P5 billion for its Tulong Dunong Program.
■ Department of Public Works and Highways’ (DPWH) P10 billion for the construction of water systems in underserved upland barangays;
■ Department of Information and Communications Technology’s (DICT) P1.5 billion for the national broadband project.
■ Commission on Elections’ (COMELEC) P500 million for its new building.
■ Philippine National Police’s (PNP) P300 million to train law en forcement officers in coordination with the Department of Justice (DOJ).
■ Department of Trade and In dustry’s (DTI) P250 million to as sist the creative industry pursuant to Republic Act (RA) No. 11904.
■ Energy Regulatory Commis sion’s (ERC) P150 million.
■ Office of Solicitor General’s (OSG) P147 million.
■ National Electrification Ad ministration’s (NEA) P50 million for the barangay and sitio electrification program.
“ What we did was allocate more budget to pro-people programs without the need to sacrifice our national programs and projects for job creation. We are confident that there will be no contentions with our amendments here,” Co said.
Marikina City Rep. Stella Quimbo, senior vice chairperson of the House Committee on Appropriations, ex pressed hope of clinching approval of the national budget before Christmas.
“Although there are disagreeing provisions, and I believe amount ing to about P215 billion worth of increases in budget items, I think the House and the Senate will agree on these [items] because for the first time, we adopted the Medium Term Fiscal Framework under Eight Point Socio Economic Agenda of the Pres ident in considering these items,” added Quimbo.
T he House leadership assigned the following as the chamber’s con tingent to the bicameral conference committee: Co, Quimbo, Reps. Ralph Recto, Aurelio Gonzales Jr., Mannix Dalipe, Ferdinand Alexander “San dro” Marcos, Jay-Jay Suarez, Neptali Gonzales II, Joboy Aquino II, Raul Angelo Bongalon, Eleandro Jesus Madrona, Michael John Duavit, Mar celino Libanan and Edcel Lagman.
S enate contingent members are: Senators Sonny Angara, Loren Le garda, Pia Cayetano, Cynthia Villar, Imee Marcos, Win Gatchalian, Bato Dela Rosa, Bong Go, Risa Hontive ros, Nancy Binay, Grace Poe, Francis Tolentino, Mark Villar, JV Ejercito, Alan Cayetano, Chiz Escudero, and Jinggoy Estrada.
Continued
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THE cost of airfare will likely be the same in December and not likely affect holiday vacation plans of the public.
The Nation
BusinessMirror
Former health chief asks DOH to issue rules on 2G Covid vax
By Jovee Marie N. Dela Cruz @joveemarie
WITH the expected arrival of the updated Covid-19 vaccine next month, a former secretary of health and now Iloilo lawmaker called on the Depart ment of Health (DOH) to now draft the guidelines on how to adminis ter the second generation vaccines against the virus.
I loilo Rep. Janette L. Garin said in an interview there are still no guide
lines from health authorities on the use of the second-generation (2G) or the bivalent vaccines.
“There are no guidelines. All pro grams should have guidelines, there should be accompanying guidelines for implementation,” she said.
The doctor-lawmaker said the government should educate the public that a second booster shot is a prerequisite in getting the biva lent vaccines.
“Let’s prepare the community. They should be informed why the
people need their second booster against Covid-19,” she said.
As of November 20, there were 20,972,552 individuals who received their booster or additional dose. This was lower than 73,771,386 fully vac cinated individuals.
According to Garin, the bivalent vaccine contains protection against the Omicron variant.
The highly transmissible Omi cron variant is less virulent than the Delta variant, she added.
The DOH said the Omicron vari
ant is a mutated Covid-19 virus first described in South Africa last No vember 2021.
The health agency recommends people to receive one updated (bi valent) booster if it has been at least 2 months since their last Covid-19 vaccine dose.
The updated (bivalent) boosters are called “bivalent” because they protect against both the original virus that causes Covid-19 and the Omicron variant BA.4 and BA.5.
Previous boosters are called
“monovalent” because they were de signed to protect against the origi nal virus that causes Covid-19. They also provide some protection against Omicron, but not as much as the up dated (bivalent) boosters.
The DOH said the virus that causes Covid-19 has changed over time. The different versions of the virus that have developed over time are called variants.
Moreover, Garin said DOH should have the guidelines even before the bivalent vaccines arrived in the coun
try to save time.
During the first booster doses, Garin said the government did not allow them to be administered imme diately although the jabs are already in the country.
“We should ask them about the guidelines. Kapag dumating ba ang bakuna sa December, pwede na ibi gay, sino ang pwedeng bigyan at sino ang pwedeng magbigay?,” said Garin. [When the vaccine arrives in Decem ber, can it be given, who can give it and who can give it?”]
Party-list group wants help to individuals in crisis situations firmed up
APARTY-LIST group is propos ing to institutionalize the “Assistance to Individuals in Crisis Situation,” or AICS, program of the Department of Social Welfare and Development (DSWD).
Bill (HB) 1940, Tin
I
want the immediate provision of quarterly medical assistance worth P1,000 up to P150,000 to individu als and/or families who are deemed in crisis.
The 1987 Constitution mandates the State to ‘free the people from poverty through policies that pro vide adequate social services,” said
the bill’s explanatory note.
T he bill defines the AICS as a so cial safety net or stopgap measure to support the recovery of individu als and families who are indigent, vulnerable, disadvantaged or are otherwise in crisis situations. The program provides psychosocial in tervention through therapies, direct
financial or material assistance, which enables such individuals and families to meet their basic needs “food, transportation, medical, educational or burial expenses” and referral to other services of other national government agencies.
Section 4 of the measure propos es that the AICS program provide
integrated services to individuals and families in crisis or difficult situations in the form of psychoso cial intervention or direct financial and material assistance. The bill said recipients will be subject to screen ing, verification and assessment by social workers.
Under the bill, the amount of
transportation assistance will be based on actual ticket quotation and may be availed once a year.
T he medical aid may be from P1,000 up to P150,000 and may be requested every three months, according to the bill. It provides P5,000 up to P25,000 for burial assistance. Jovee Marie N. Dela Cruz
www.businessmirror.com.ph
• Monday, November 28, 2022 A3
Editor: Vittorio V. Vitug
n House
gog Party-list Reps. Yedda Marie K. Romualdez and Jude A. Acidre
BusinessMirror
Coal out in 10 years as RE tech gains traction–experts
By VG Cabuag @Villygc
renewable energy becomes a non-is sue and 24/7 power with renewables is now possible, according to him.
Power-sector players such as firms led by the Ayala and Aboitiz groups have already been leading in solar deployment, Carpio said. These storage systems are critical to retiring coal and crucial to ensur ing the Philippine grid can absorb more renewable energy sources, which happen to be more afford able, secure and reliable compared to fossil fuels such as coal, bunker and diesel.
pushed last year to increase the share of RE in the country’s power genera tion mix by 35 percent in 2030, and 50 percent in 2040.
To achieve this target, the DOE said it must increase the annual minimum increment of its renew ables portfolio standards from 1 percent to 2.52 percent beginning 2023, said Jonathan B. Teodosio, senior science research specialist of the DOE.
Bill seeks to hike pensions of Foreign Service officials
By Jovee Marie N. Dela Cruz @joveemarie
AMINORITY leader of the House of Representatives is batting for a new retroactive retirement plan for the country’s Foreign Service officers, in a bid to upgrade their pensions when they reach old age or suffer some other disability.
Law of 1991 (Republic Act 7157), “actually endorsed the creation of the very program” he’s pushing for. Libanan cited Section 63 of the 1991 law, which provides that: “The President, upon the recommenda tion of the Secretary of Foreign Af fairs, may, as soon as practicable, submit for enactment by Congress a foreign service retirement program.”
Matthew Carpio, transaction ad visory head of Climate Smart Ven tures Pte. Ltd., said energy firms recognize that they have to place their bets on RE projects today, de spite some challenges.
“Coal is out of the picture… be cause of this whole eye-opening event of the volatile fossil fuel costs,” Carpio said during a webinar orga nized by the Institute of Corporate Directors. “So it makes sense to have power sources that you can rely on. As long as your projections are correct
and you are putting your assets in the right place, you can place your bets accordingly and provide consistent 24/7 power from renewable energy.”
However, the executive said, the country must ensure “that the grid is ready to absorb more renewable energy.”
Carpio said the reality of energy storage systems, or batteries, fills the gap that constrains the increase of the share of RE in the power-gener ation mix of the Philippines.
With batteries, the variability of
As an archipelagic country, this is true for unserved or underserved small island grids and off-grid ar eas, as well as main island grids, he explained.
“[RE] and energy storage system (ESS) applications in small island grids are already very competitive,” Carpio said adding it is also projected that, with the right policies in place, RE and ESS will also be cost competi tive for 24/7 operations in on-grid areas by as early as 2027 or sooner.”
The Department of Energy (DOE)
“The increase in the annual RPS percentage opens more opportuni ties for developers to invest in RE power projects,” Teodosio said.
Apart from further developing RE, energy-efficiency methods are also crucial in future-proofing na tional and global economies, accord ing to Carpio.
Citing the International Energy Agency, Carbon Trust Singapore Pte. Ltd. Senior Associate Kalyani Basu said energy efficiency accounts for 38 percent cumulative emissions reduc tions by 2050 and has the potential to reach $550 billion worth of annual investments in the 2030s.
House Minority Leader Marcelino C. Libanan has filed House Bill (HB) 4077, a Foreign Service Retirement Program that would be launched under the state-run Government Service Insurance System (GSIS).
The new program would cover all foreign-service officers, includ ing those who previously retired or became disabled, as long as they had served for at least 15 years in the De partment of Foreign Affairs (DFA) or in other government agencies.
“We have to consider the finan cial challenges faced by our foreignservice officers in preparing for their eventual retirement, including their need to resettle and establish a home here in the country after complet ing their tours of duty overseas,” Libanan said.
He said that the Foreign Service
Under the bill, the monthly pen sion of retired Foreign Service offi cers would be automatically raised based on any future upward adjust ment in the pay rate of their last sal ary grade when they left their jobs.
Differential funding for the pro gram would be sourced from the DFA’s available savings and consular income, as included in the annual General Appropriations Act.
To guarantee program funding, the DFA and the GSIS would be re quired to meet yearly to ascertain the new money needed.
The DFA would then be obliged to remit to the GSIS as much additional contributions as necessary to sustain the program.
Based on the 2022 General Appro priations Act’s Staffing Summary, the DFA currently has a total of 3,300 authorized permanent positions.
DOE: Extended electricity lifeline rate subsidy to be implemented fairly
By Lenie Lectura @llectura
of Republic Act (RA) 11552. T he rules of “An Act Extending and Enhancing the implementation of the Lifeline Rate, Amending for
the Purpose Section 73 of RA 9136 (Electric Power Industry Reform Act of 2021)” now included safeguards in the provision of subsidies. The IRR will assure that the discount would be given only to eligible beneficia ries while making sure that there is very little impact to the subsidizing sectors, which are the non-lifeline electricity consumers.
“The approved extension of im plementation until the next 30 years will aid the marginalized sector in their economic sustenance and hope fully, recovery in the hope that by the end of the 30 year extension there will be less marginalized consumers and very minimal need for subsidy,” said DOE Assistant Secretary Mario C. Marasigan, who spoke on behalf of DOE Secretary Raphael P.M. Lotilla.
With the signed IRR, those in the marginalized sector who consume electricity will continue to receive government subsidies in their elec tricity bills for another 30 years af ter the first 20 years in the original RA is up.
Marasigan said the IRR explic itly outlined the steps for obtaining the lifeline subsidy, beginning with the submission of an application, so that the government could ensure that subsidies being provided by the non-lifeline customers were appro priately targeted.
“We also leverage on the best available information from the Phil ippine Statistics Authrority and the Department of Social Welfare and Development (DSWD) for more ac curate targeting of lifeline beneficia ries and determination of threshold so that we can concentrate the sub sidies to consumers in our poorest areas,” Marasigan added.
The DSWD, he said, will ensure that those receiving the lifeline sub sidy are included in the Pantawid Pamilyang Pilipino Program benefi ciaries master list, while the Energy Regulatory Commission (ERC) will continue to be in charge of determin ing the threshold level and the life line rate per distribution utility. The distribution utilities, on the other
hand, will help validate and confirm the eligibility of such beneficiaries by submitting reports to the ERC.
“Such will lead to an achievement of a more equitable distribution of the lifeline subsidy, thus creating a more transparent and fair implemen tation of the lifeline subsidy among qualified marginalized electricity end-users and provision of assistance to electricity consumers living below the poverty threshold,” he said.
Marasigan also agreed that Presi dent Ferdinand Marcos Jr.’s Renew able Energy Agenda and the extended lifeline rate subsidy both support the DOE’s call for affordable elec tricity prices.
“We are aware that these tech nologies continue to grow and as such, costs of building capacities will continue to decline and we see that in the near future, costs of electric ity generation will be lower while the number of lifeline customers will also continue to go downwards resulting to lower subsidy requirement from non-lifeline customers,” he said.
ALEADER of the House of Representatives on Sunday reassured workers of the Re search Institute for Tropical Medicine (RITM) that there will be no abolition or layoffs in the government research unit as the Center for Disease Control (CDC) inches closer to becoming law.
House Committee on Ways and Means Chairman Joey Sarte Salceda, principal author of the CDC bill, said “that is not the intention, the objec tive, the letter, or even the execution of the law.”
“I don’t know where it comes from but. let me categorically say, on record, that the RITM will stay,” said Salceda adding the agency “will continue to perform most of its func tions; and there will be no layoffs.”
The lawmaker gave the reassur ance as workers in the RITM have protested recently about possible layoffs with the creation of the CDC.
The charter of the CDC has al ready been approved by the House Committees on Health, Ways and Means and Appropriations and is now ready for deliberations in Con gress. The measure was a priority of the Duterte administration and its successor as President Ferdinand R. Marcos Jr. said so in his first State of the Nation Address last July.
Salceda was quoted in a statement as saying that the CDC will primar ily be a national health emergency management, public policy and re search center.
“The RITM is and will continue to be, its own research center with a hospital, a testing center, the coun try’s central reference laboratory and will continue to perform its existing role over many diseases, including perennial ones like tuberculosis and malaria,” he added.
Salceda said that under the CDC,
the RITM will be part of a “total dis ease prevention ecosystem, rather than an island of epidemic preven tion under the current health gover nance structure.”
“Simply put, it will be a tree that’s part of a forest, rather than some thing more solitary as it currently stands,” he said.
“You can quote me on this: As champion of the CDC charter, we will not defund the RITM because of the new agency,” Salceda added.
The lawmaker said that plantilla units under the RITM may “at worse, be relocated to some other unit in the CDC; but no job reduction.”
The Senate Committee on Health is also already discussing the CDC bill.
Salceda said that, as both chambers have started deliberating on the mea sure early, the agency has a stronger chance of getting enacted this Con gress. Jovee Marie N. Dela Cruz
ALAWMAKER has filed a bill seeking to institutionalize a framework for the right to adequate food in the country.
In House Bill (HB) 4562 or the “Right to Adequate Food Framework” bill, Quezon City Rep. Patrick Michael D. Vargas seeks to address food avail ability, stability and security by estab lishing well-functioning distribution,
processing and market systems.
Sans citing sources, Vargas said the Philippines ranked 74th for food affordability, 63rd for food avail ability, 69th for quality and safety and 101st in terms of natural re sources and resilience. Among the sub-categories, the Philippines again ranked first in only one, nutritional standards pointing perhaps to our
perennial problem with being excel lent in law-making, but extremely poor in implementation, he added.
Vargas noted that President Ferdi nand R. Marcos Jr. vowed to exhaust all efforts to stabilize food supply and improve food production in response to the looming global food crisis as re ported by international institutions like the World Bank. Jovee Marie N. Dela Cruz
A4
www.businessmirror.com.ph Economy
Monday, November 28, 2022 • Editor: Vittorio V. Vitug
THE Department of Energy (DOE) assured over the weekend that
the extended electricity lifeline rate subsidy would be implemented fairly, following the signing of the imple menting rules and regulations (IRR)
THE use of coal as a source of power may be out of the picture in the next five years to ten years as the use of renewable energy (RE) technologies has become prevalent among energy players in the country.
RITM
Bill
to stay in rhythm with new law–Salceda
on right to adequate food framework filed
Editor: Angel R. Calso
By HUIZHONG WU and DAKE KANG Associated Press
TAIPEI, Taiwan—Protests against China’s restrictive Covid-19 mea sures appeared to roil in a number of cities Saturday night, in displays of public defiance fanned by anger over a deadly fire in the western Xinjiang region.
Many protests could not be im mediately confirmed, but in Shang hai, police used pepper spray to stop around 300 protesters who had gathered at Middle Urumqi Road at midnight, bringing flowers, candles and signs reading “Urumqi, Novem ber 24, those who died rest in peace” to memorialize the 10 deaths caused by a fire in an apartment building in Xinjiang’s capital city Urumqi.
A protester who gave only his fam ily name, Zhao, said one of his friends was beaten by police, and two friends were pepper sprayed. He said police stomped his feet as he tried to stop them from taking his friend away. He lost his shoes in the process, and left the protest barefoot.
Zhao says protesters yelled slogans including “Xi Jinping, step down, Com munist Party, step down,” “Unlock Xinjiang, unlock China,” “do not want PCR (tests), want freedom” and “press freedom.”
Around 100 police stood line by line, preventing some protesters from gathering or leaving, and buses carrying more police arrived later, Zhao said.
Another protester, who gave only his family name of Xu, said there was a larger crowd of thousands of dem onstrators, but that police stood in the road and let protesters pass on the sidewalk.
Posts about the protest were de leted immediately on China’s social media, as China’s Communist Party commonly does to suppress criticism.
Earlier Saturday, authorities in the Xinjiang region opened up some neighborhoods in Urumqi after resi dents held extraordinary late-night demonstrations against the city’s draconian “zero-Covid” lockdown that had lasted more than three months. Many alleged that obstacles caused by anti-virus measures made the fire worse. It took emergency workers three hours to extinguish the blaze, but officials denied the allegations, saying there were no barricades in the building and that residents were permitted to leave.
During Xinjiang’s lockdown, some residents elsewhere in the city have had their doors chained physically shut, including one who spoke to The Associated Press who declined to be named for fear of retribution. Many in Urumqi believe such brute-force tactics may have prevented residents from escaping in Thursday’s fire and that the official death toll was an undercount.
Anger boiled over after Urumqi city officials held a press conference about the fire in which they appeared to shift responsibility for the deaths onto the apartment tower’s residents.
“Some residents’ ability to res cue themselves was too weak,” said Li Wensheng, head of Urumqi’s fire department.
Police clamped down on dissent ing voices, announcing the arrest of a 24-year-old woman for spreading “untrue information” about the death toll online.
Late Friday, people in Urumqi marched largely peacefully in big puffy winter jackets in the cold win ter night.
Videos of protests featured people holding the Chinese flag and shouting “Open up, open up.” They spread rap idly on Chinese social media despite heavy censorship. In some scenes, people shouted and pushed against rows of men in the white whole-body hazmat suits that local government workers and pandemic-prevention volunteers wear, according to the videos.
By Saturday, most had been de leted by censors. The Associated Press could not independently verify all the videos, but two Urumqi residents who declined to be named out of fear of
retribution said large-scale protests occurred Friday night. One of them said he had friends who participated.
The AP pinpointed the locations of two of the videos of the protests in different parts of Urumqi. In one video, police in face masks and hos pital gowns faced off against shouting protesters. In another, one protester is speaking to a crowd about their de mands. It is unclear how widespread the protests were.
The demonstrations, as well as public anger online, are the latest signs of building frustration with China’s intense approach to controlling Co vid-19. It’s the only major country in the world that still is fighting the pandemic through mass testing and lockdowns.
Given China’s vast security appara tus, protests are risky anywhere in the country, but they are extraordinary in Xinjiang, which for years has been the target of a brutal security crackdown. A huge number of Uyghurs and other largely Muslim minorities have been swept into a vast network of camps and prisons, instilling fear that grips the region to this day.
Most of the protesters visible in the videos were Han Chinese. A Uyghur woman living in Urumqi said it was because Uyghurs were too scared to take to the streets despite their rage.
“Han Chinese people know they will not be punished if they speak against the lockdown,” she said, de clining to be named for fear of retali ation against her family. “Uyghurs are different. If we dare say such things, we will be taken to prison or to the camps.”
In one video, which the AP could not independently verify, Urumqi’s top official, Yang Fasen, told angry protesters he would open up lowrisk areas of the city the following morning.
That promise was realized the next day, as Urumqi authorities announced that residents of low risk areas would be allowed to move freely within their neighborhoods. Still, many other neighborhoods remain under lockdown.
Officials also triumphantly de clared Saturday that they had basically achieved “societal zero-Covid,” mean ing that there was no more community spread and that new infections were being detected only in people already under health monitoring, such as those in a centralized quarantine facility.
Social media users greeted the news with disbelief and sarcasm. “Only China can achieve this speed,” wrote one user on Weibo.
On Chinese social media, where trending topics are manipulated by censors, the “zero-Covid” announce ment was the No. 1 trending hashtag on both Weibo, a Twitter-like plat form, and Douyin, the Chinese edi tion of TikTok. The apartment fire and protests became a lightning rod for public anger, as millions shared posts questioning China’s pandemic controls or mocking the country’s stiff propa ganda and harsh censorship controls.
The explosion of criticism marks a sharp turn in public opinion. Early on in the pandemic, China’s approach to controlling Covid-19 was hailed by its own citizens as minimizing deaths at a time when other countries were suf fering devastating waves of infections.
China’s leader Xi Jinping had held up the approach as an example of the superiority of the Chinese system in comparison to the West and especially the US, which had politicized the use of face masks and had difficulties enact ing widespread lockdowns.
But support for “zero-Covid” has cratered in recent months, as tragedies sparked public anger. Last week, the Zhengzhou city government in the central province of Henan apologized for the death of a 4-month old baby. She died after a delay in receiving medical attention while suffering vomiting and diarrhea in quarantine at a hotel in Zhengzhou.
The government has doubled down its policy even as it loosens some mea sures, such as shortening quarantine times. The central government has repeatedly said it will stick to “zero Covid.” Kang reported from Beijing
Chiang Kai-shek’s great-grandson claims key Taiwan election victory
By Cindy Wang & Sarah Zheng
Chiang Kai-sheK’s great-grandson declared victory in the race to be mayor of Taiwan’s capital, as the ruling party suffered a resounding defeat in island-wide local elections a little more than a year before a new president is chosen.
Chiang Wan-an of the opposition Kuomintang will become, at 43 years old, the youngest-ever mayor of Taipei, a position that can serve as a spring board to the presidency.
“Everyone, we did it,” he told a crowd of several thousand people outside his campaign headquarters Saturday night. He didn’t mention simmering tensions between the US and China over the democratically ruled island’s autonomy in his brief remarks.
According to Central Election Com mission, KMT won 13 out of 21 cities and counties, while DPP only managed to secure five cities in the southern part of Taiwan, the least since its founding in 1986. KMT candidates took 50% of votes in the contests, versus 41.6% for the DPP, 11.39 million votes counted as of 11:53 p.m. in Taipei, according to the official election website.
That prompted President Tsai Ingwen to step down as party leader, saying in televised remarks: “In the face of these results, there are many areas where we need to engage in selfreflection.”
The elections represented the last major test of Tsai’s DPP before her second and final term draws to a close and Taiwan picks a successor in early 2024. The KMT, or Nationalist Party, hopes the gains in local races will help it mount a comeback after defeats in pres idential elections in 2016 and 2020.
The results will be closely watched in Washington and Beijing, since the DPP’s rise to power has prompted China to cut off communications with Taiwan and ramp up diplomatic and military pressure on the island. The KMT, which favors eventual uni fication with China, had previously overseen a historic expansion of ties with Beijing, easing travel, trade and investment across the Taiwan Strait.
The outcome Saturday “would count as a major victory for the KMT,” said Chang Teng-chi, profes sor of political science at National Taiwan University.
The strong showing could help KMT party head Eric Chu and New Taipei Mayor Hou Yu-ih in any run for president, Chang added. Hou was poised to win re-election.
“Eric Chu will take credit for the win, and will be qualified to run for presidency for sure,” said Arthur Wang, secretary general of Asia-Pa cific Elite Interchange Association. “However, New Taipei City Mayor Hou Yu-Ih is long favored as the next candidate in the party. Which of the two strong figures will stand out is yet to tell.”
Chiang’s great grandfather was the late KMT leader, who fought and lost a civil war against Mao Zedong’s Communists and is remembered by many Taiwanese for his repression. Taiwan marks a holiday on Feb. 28 each year to remember thousands of people killed in a military crack down by his government.
In the crowd of enthusiastic sup porters outside Chiang’s campaign headquarters, Denise Lee, who de scribed herself as an independent voter in her 60s, said she was highly con cerned about cross-strait ten sions. In August, China held un precedented military drills around the island that also included the People’s Liberation Army sending missiles overhead.
“It’s very concerning now,” she said. “It actually seems like war could break out.”
In other results, the KMT won four of six major cities, where some 70% of the population live. The DPP held on to its southern stronghold of Kaohsiung, where
Chen Chi-mai won.
Voters appeared to reject a refer endum to lower the voting age to 18 from 20. About 5.6 million people backed the first civil referendum in the island’s history, well short of the 9.6 million needed.
One key issue on the minds of vot ers was the economy as 2022 winds down. Exports dropped for a second straight month in October and offi cials have warned that overseas ship ments for November are expected to fall between 5% and 8%.
Jessica Drun, a specialist in crossstrait ties at the Atlantic Council think tank, said Beijing “will likely be reassured” by the results of Sat urday’s elections, and may soon make goodwill gestures to the KMT, possibly in the form of economic incentives.
“It will likely also seek to foster or deepen ties with successful candi dates and factions in order to shape the party’s policy approaches,” she said. With assistance from Chien-Hua Wan and Spe Chen / Bloomberg
By Huizhong Wu The Associated Press
TAIPEI, Taiwan—Taiwan President Tsai Ingwen resigned as head of the ruling Democratic Progressive Party following local election losses on Saturday in which voters chose the op position Nationalist party in several major races across the self-ruled island.
Concerns about threats from rival China, which claims Taiwan as its territory, took a backseat to more local issues in the elections.
Tsai had spoken out many times about “oppos ing China and defending Taiwan” in the course of campaigning for her party. But the party’s can didate Chen Shih-chung, who lost his battle for mayor of Taipei, only raised the issue of the Chinese Communist Party’s threat a few times before he quickly switched back to local issues as there was little interest.
Tsai offered her resignation on Saturday eve ning, a tradition after a major loss, in a short speech in which she also thanked supporters.
“I must shoulder all the responsibility,” she said. “Faced with a result like this, there are many areas that we must deeply review.”
While international observers and the ruling party have attempted to link the elections to the long-term existential threat that is Taiwan’s neigh bor, many local experts do not think China had a large role to play this time around.
“The international community has raised the stakes too high. They’ve raised a local election to this international level, and Taiwan’s survival,” said Yeh-lih Wang, a political science professor at National Taiwan University.
During campaigning, there were few mentions of the large-scale military exercises targeting Tai wan that China held in August in reaction to US House Speaker Nancy Pelosi’s visit.
“So I think if you can’t even raise this issue in Taipei, you don’t even need to consider it in cities in the south,” Wang said.
The World BusinessMirror Monday, November 28, 2022 A5
Chiang Wan-an speaks to supporters after winning the Taipei mayoral election in Taipei. B LOOMBERG PHOTO
Taiwan president quits as party head after local election losses
China’s growing anti-Covid protests triggered by deadly fire in Xinjiang
Civilians escape Kherson after Russian strikes on freed city
By Sam Mednick & Jamey Keaten The Associated Press
KHERSON, Ukraine—Fleeing shelling, civilians on Saturday streamed out of the southern Ukrainian city whose recapture they had celebrated just weeks earlier.
The exodus from k h erson came as u k raine solemnly re membered a s t alin-era famine and sought to ensure that Rus sia’s war in u k raine doesn’t de prive others worldwide of its vital food exports.
a line of trucks, vans and cars, some towing trailers or ferrying out pets and other belongings, stretched a kilometer or more on the outskirts of the city of k h erson.
Days of intensive shelling by Russian forces prompted a bit tersweet exodus: Many civilians were happy that their city had been won back, but lamented that they couldn’t stay.
it i s sad that we are leaving our home,” said Yevhen Yankov, as a van he was in inched for ward. “ n o w we are free, but we have to leave, because there is shelling, and there are dead among the population.”
Poking her head out from the back, sv itlana Romanivna add ed: “We went through real hell. Our neighborhood was burning, it was a nightmare. Everything was in flames.”
Emilie Fourrey, emergen cy project coordinator for aid group Doctors Without Borders in u k raine, said an evacuation of 400 patients of k h erson’s psychiatric hospital, which is s ituated near both an electri cal plant and the frontline, had begun on Thursday and was set to continue in the coming days.
u k raine in recent days has faced a blistering onslaught of Russian artillery fire and drone attacks, with the shelling espe cially intense in k h erson. Often the barrage has largely targeted
infrastructure, though civilian casualties have been reported. Repair crews across the country were scrambling to restore heat, electricity and water services that were blasted into disrepair. Russia has ratcheted up its attacks on critical infrastruc ture after suffering battlefield setbacks. a prominent Russian nationalist said s a turday the Russian military doesn’t have enough doctors, in what was a rare public admission of prob lems within the military.
i n t he capital ky iv, President Volodymyr Zelenskyy oversaw a busy day of diplomacy, welcom ing several European un ion lead ers for meetings and hosting an “ i nternational s u mmit on Food s e curity” to discuss food secu rity and agricultural exports from the country. a deal bro kered by the u n . a nd Turkey has allowed for safe exports of u k rainian grain in the Black s e a amid wartime disruptions that have affected traffic.
“The total amount we have raised for ‘Grain from u k raine’ is already about $150 million. The work continues,” Zelenskyy said in his nightly TV address. “We are preparing up to 60 ships. a l l of us together do not just send u k rainian agricultur al products to those countries that suffer the most from the food crisis. We reaffirm that hunger should never again be used as a weapon.”
The prime ministers of Bel gium, Poland and Lithuania and the president of hu ngary were on hand, many others partici pated by video. Zelenskyy said more than 20 countries sup
ported the summit.
u k rainian Prime Minister Denys s h myhal said u k raine—despite its own financial straits has allocated 900 million hryvna ($24 million) to purchase corn for countries including Yemen, s udan, k e nya and n i geria.
Our food security summit was sup ported by more than 20 countries. The total amount we have raised for ‘Grain from u k raine’ is already about 150 mil lion us dollars. The work continues. We are preparing up to 60 ships. a l l of us together do not just send u k rainian agri cultural products to those countries that suffer the most from the food crisis. We reaffirm that hunger should never again be used as a weapon.
The reminder about food supplies was timely: u k rainians were marking the 90th anniversary of the start of the h o lodomor,” or Great Famine, which killed more than 3 million people over two years as the s o viet government under dictator Josef s t alin confiscated food and grain supplies and deported many u k rainians.
German Chancellor Olaf s c holz marked the commemoration by drawing parallels with the impact of the war on u k raine on world markets. Exports from u k raine have resumed under a un bro kered deal but have still been far short of pre-war levels, driving up global prices.
“Today, we stand united in stating that hunger must never again be used as a weapon,” s c holz said in a video message.
“That is why we cannot tolerate what we are witnessing: The worst global food cri sis in years with abhorrent consequences
for millions of people—from a f ghani stan to Madagascar, from the s a hel to the ho rn of a f rica.”
he said Germany, with the un ’s World Food Program, will provide an additional 15 million euros for further grain ship ments from u k raine.
s c holz spokes as a cross-party group of lawmakers in Germany are seeking to pass a parliamentary resolution next week that would recognize the 1930s famine as “genocide.”
Last year u k raine and Russia provided around 30% of the world’s exported wheat and barley, 20% of its corn, and over 50% of its sunflower oil, the un has said. i n a post on the Telegram social net work on s a turday, ky iv Mayor Vitali k l itschko said more than 3,000 special ists for a local utility continued to work “around the clock” and had succeeded in restoring heat to more than more than 90% of residential buildings. While about one-quarter of ky iv residents remained without electricity, he said water serviced had been returned to all in the city.
The scramble to restore power came as Belgian Prime Minister a l exander De Croo met s aturday with Zelenskyy in ky iv.
“This might be a difficult winter,” he said, alluding to Belgium’s contributions of generators, and support for schools and hospitals in u k raine, as well as military aid such as “fuel, machine guns, propelled artillery and so on.”
“a n d by standing here, we hope that we provide you hope and resilience in fighting through this difficult period.” Keaten reported from Kyiv, Ukraine
New state voter fraud units finding few midterms cases
By Gary Fields, Anthony Izaguirre &And Sudhin Thanawala The Associated Press
WASHINGTON—State-level law enforcement units created after the 2020 presidential election to investigate voter fraud are looking into scattered complaints more than two weeks after the midterms but have provided no indication of systemic problems.
That’s just what election experts had expected and led critics to suggest that the new units were more about politics than rooting out widespread abuses. Most election-related fraud cases already are investigated and prosecuted at the local level.
Florida, Georgia and Virginia created special state-level units after the 2020 election, all pushed by Republican governors, attorneys general or legislatures.
“I am not aware of any significant detection of fraud on Election Day, but that’s not surprising,” said Paul Smith, senior vice president of the Cam paign Legal Center. “The whole concept of voter impersonation fraud is such a horribly exaggerated problem. It doesn’t change the outcome of the elec tion, it’s a felony, you risk getting put in jail and you have a high possibility of getting caught. It’s a rare phenomena.”
The absence of widespread fraud is important because the lies surrounding the 2020 presidential election spread by former President Donald Trump and his allies have penetrated deeply into the Re publican Party and eroded trust in elections. In the run-up to this year’s elections, 45% of Republicans had little to no confidence that votes would be counted accurately.
An Associated Press investigation found there was no widespread fraud in Georgia or the five other battleground states where Trump disputed his 2020 loss, and so far there is no indication of that in this year’s elections. Certification of the results is go ing smoothly in most states, with few complaints.
In Georgia, where Trump tried to pressure state officials to “find” enough votes to overturn his loss, a new law gives the state’s top law enforce ment agency, the Georgia Bureau of Investigation, authority to initiate investigations of alleged elec tion fraud without a request from election officials. The alleged violation would have to be significant enough to change or create doubt about the out come of an election.
GBI spokesperson Nelly Miles said the agency has not initiated any investigations under the statute. The agency is assisting the secretary of state’s office in an investigation of a breach of voting equipment in Coffee County in 2021, but that is its only recent election fraud investigation, she said in an email.
That breach, which came to light earlier this year, involved local officials in a county that voted for Trump by nearly 40 percentage points in 2020 and some high-profile supporters of the former president.
State Rep. Jasmine Clark, a Democrat who op posed the additional authority for the bureau, said the lack of investigations validates the criticism that the law was unnecessary. But she said just the pros pect of a GBI investigation could intimidate people who want to serve as poll workers or take on some other role in the voting process.
“In this situation, there was no actual problem to be solved,” Clark said. “This was a solution look ing for a problem, and that’s never the way that we should legislate.”
British leader’s plea for patience leaves him under constant attack
By Alex Wickham
Rishi s u nak may be about to discover that his political opponents are more difficult to pacify than investors.
The British prime minister managed to calm financial markets with an austere fis cal program based on major tax rises as his first move af ter taking office. s u nak and Chancellor of the Exchequer Jeremy hu nt are now devis ing a strategy for phase two, according to government of ficials.
hu nt is working on a raft of policies aimed at boosting the uk ’s lackluster growth and bringing people back into the labor market, the officials said. But the govern ment isn’t likely to announce most of those measures until the Budget in spring 2023.
The long wait for a more optimistic message will leave s unak’s government vulner able to attacks from his own backbenchers as well as the opposition Labour party as he leads the country through a winter of strikes, recession and soaring energy prices.
s o me Tory lawmakers are demanding more radical pro-growth policies, another faction is concerned about protecting the rural way of life for their affluent voters. Most of them are worried about what s u nak can do to reduce the opposition Labour party’s 21-point lead in the latest opinion polls.
The first assaults have al ready begun.
Former cabinet minister s i mon Clarke, who served in Liz Truss’s short-lived gov ernment, has submitted an amendment to a leveling up bill that would ease the uk s effective ban on onshore wind farms.
i n a s ign of how serious this rebellion could become, both Truss and her prede cessor Boris Johnson have signed the amendment, in their first significant dis senting move against the new premier. The pro-growth lawmakers are determined to put s u nak under pressure, one MP said.
The faction is likely to cause problems for the gov ernment on a series of other policy issues in the near fu ture. They can be expected to demand action on Brexit op portunities, infrastructure, childcare ratios and measures to increase productivity.
“The uk s core problem is dreadful productivity even by G-7 standards and really weak investment spending,” economist Jim O’ n e ill, a for mer Tory minister who sub sequently left the party, told Bloomberg TV this week, ar guing that s u nak’s austerity strategy was a mistake. “We need a government that’s pre pared to borrow to invest.”
But s u nak finds himself caught in pincer movement, with those who want to block things like building new homes, staging also their own rebellion earlier this week.
The prime minister was forced to pull a vote in the h o use of Commons on its housebuilding targets, fol lowing a rebellion from a group of backbenchers largely in leafy, rural seats who don’t want large numbers of new homes built in their constit uencies.
That setback calls into question s u nak’s plans for
boosting living standards outside the wealthy southeast of England.
The government would have won the vote if it had decided to face down the rebels, because the main op position Labour party would have supported the proposal, a Labour official said, point ing out that su nak had chosen to protect party unity instead of pushing ahead with his vi sion for the country.
Media round
Wi T h no major policy plans to rally support, s u nak has baffled some MPs by also ceding ground in the daily media battle.
The prime minister’s com munications team has de cided to drop the custom of sending out a minister every morning to tour TV and radio studios and get its message out to the public. s u nak’s communications team has pared that back, believing the daily round is unhelpful and creates too many nega tive stories.
That’s a mistake, Tory MPs and strategists said, because it allows Labour to put their own spokespeople up to at tack the government unop posed. it ’s inevitable the gov ernment will u Turn on the decision, one Tory predicted.
The lack of direction and the scale of the challenges facing the party are sapping the morale of MPs and doz ens of Tories are likely to an nounce over the next couple of weeks that they will stand down at the next election, a government official said. MPs have until Dec. 5 to tell the party headquarters of their intentions.
Former minister Chris s k idmore, 41, told the Tele graph late s aturday he was stepping down because his seat was set to be abolished and he didn’t want a new con stituency. a day earlier, De henna Davison, the 29-yearold who won the northern seat of Bishop a u ckland for the Tories for the first time in 2019, said she wouldn’t be running again. Backbenchers William Wragg and Chloe s m ith have also announced their intention to quit Par liament.
Downing s t reet is also concerned that Deputy Prime Minister Dominic Raab may not be able to survive an in vestigation into allegations of bullying. On Friday, n o 10 announced a third formal complaint had been submit ted against Raab. h e denies all the allegations.
The government had ini tially hoped that by using formal complaints as the threshold for an investiga tion, Raab would be insulated as initially no complaints had gone in. s e nior government figures did not expect mul tiple complaints to then be filed, one official said. Their hope is that the probe will conclude that Raab is not a bully but just unpleasant to work for.
Government officials are also increasingly alarmed about a wave of strikes bring ing the country to a halt over the winter. nu rses, rail and postal staff are all planning strike action in the coming weeks. a government official said they were worried the amount of industrial action was approaching the level of a general strike. With assistance from Joe Mayes / Bloomberg.
A6 BusinessMirror
Monday, November 28, 2022 www.businessmirror.com.ph
The World
Ukrainian police conduct a security check on passengers before boarding the kherson-kyiv train at the kherson railway station, southern Ukraine on Saturday, november 26, 2022. Fleeing shelling, hundreds of civilians on Saturday streamed out of the southern Ukrainian city whose recapture they had celebrated just weeks earlier. AP PH OTO/B ER NAT A R MANGu E
Venezuela’s govt and opponents resume talks; US eases sanction
By Regina Garcia Cano The Associated Press
MEXICO CITY—Venezuela’s government and its opposition on Saturday agreed to create a UN-managed fund to finance health, food and education programs for the poor, while the Biden administration eased some oil sanctions on the country in an effort to boost the newly restarted talks between the sides.
t h e agreement signed in Mexico City by representatives of President nicolás Maduro and the opposition, including the faction backed by the United s t ates and led by Juan Guaidó, marked the resumption of long-stalled negotiations meant to find a common path out of the s outh American country’s complex crisis.
t he Us government, in response, agreed to allow oil giant Chevron to pump Venezuelan oil.
t h e broad terms of the agree ment for the United n ations-man aged social fund were announced by the head of a group of n o rwegian diplomats guiding the negotiations.
Venezuelan resources held in the international financial system will be directed to the fund, though nei ther side in the talks nor n o rway’s chief facilitator, d a g n ylander, said whether the U s or e uropean governments have agreed to allow frozen assets to be funneled to the new mechanism.
i n l ine with U n norms and procedures, (the fund’s) objective would be to support the implemen tation of social protection measures for the Venezuelan people,” n yl ander said. “ t h e parties have iden tified a set of resources belonging to the Venezuelan state frozen in the international financial system to which it is possible to progressively access, understanding the need to obtain the authorizations and ap provals” from foreign institutions and organizations.
A U n report published earlier this year estimated humanitarian needs at $795 million to help about 5.2 million people in Venezuela
through health, education, water and sanitation, food and other projects.
Under President d o nald tr ump, the U s ramped up economic sanc tions against Venezuela and grant ed Guaidó authority to take control of bank accounts that Maduro’s gov ernment has in the Federal r e serve Bank of n e w York or any other U s i nsured banks.
Guaidó declared himself Ven ezuela’s interim president in Janu ary 2019, arguing that his capacity as then-president of the country’s n a tional Assembly allowed him to form a transitional government be cause Maduro had been re-elected in a sham vote in late 2018. d o zens of countries, including the U s , C an ada and Colombia, recognized him as Venezuela’s legitimate leader.
e uropean banks also hold Ven ezuelan frozen assets.
About 7 million people have left Venezuela amid a complex political and humanitarian crisis. t h reequarters of those who remain in the country live on less than $1.90 a day, an international measure for extreme poverty.
About $3 billion is expected to be progressively directed to the fund.
t h e dialogue formally began in s e ptember 2021, but Maduro’s delegates walked away from ne gotiations in October 2021 after businessman Alex s a ab was extra dited on money laundering charges from Cape Verde to the U s Maduro conditioned a resumption on the release of s a ab.
t h e tr easury d e partment on
s a turday announced its decision to allow California-based Chevron to resume “limited” energy pro duction in Venezuela after years of sanctions that have dramati cally curtailed oil and gas profits that have flowed to Maduro’s gov ernment.
t h e decision by the Biden ad ministration is the latest step in the softening of hostile relations between the U s and Venezuelan governments. i t c ame weeks after a major prisoner swap in which Venezuela freed seven imprisoned Americans in exchange for the U s f reeing two nephews of Maduro’s wife. Maduro released two other Americans in March.
Under the new policy, profits from the sale of energy would be directed to paying down debt owed to Chevron, rather than providing profits to Venezuela’s state-run oil company Petroleos de Venezuela s A., commonly known as P dV s A tr easury’s move “brings added transparency to the Venezuelan oil sector,” Chevron said in a state ment. t h e company added that the decision “means Chevron can now commercialize the oil that is cur rently being produced from the company’s Joint Venture assets. We are determined to remain a con structive presence in the country and to continue supporting social investment programs aimed at pro viding humanitarian relief.”
A senior U s administration of ficial, briefing reporters about the U s action under the condition of anonymity, said that easing the
sanctions was not connected to the administration’s efforts to boost global energy production in the wake of r u ssia’s invasion of Ukraine and that the decision was not expected to impact global energy prices.
t he agreement over the social fund is part of a broad agenda that is expected to advance in d ecember, including the conditions for the pres idential elections that are supposed to take place in 2024, the release of political prisoners and the with drawal of decisions that bar many politicians from running for office.
t h e fund is a tangible result from a process that many see with skepticism after negotiations me diated by the international com munity in previous years failed to bring the sides to an agreement.
d a vid s m ilde, senior fellow at the Washington Office on Latin America and professor at tu lane University, said that after the long break in negotiations, “it is up to the two sides to show the exhausted Venezuelan population that they can actually address their needs and return the country to a func tioning democracy.”
“However, this should be seen not as the end point of the nego tiations but as a restart,” s m ilde said. “ t he more important issues of justice and democracy are on the agenda for future meetings. Making progress will be difficult, but both sides have much to gain by rising to the occasion.” Associated Press writer Zeke Miller contributed to this report from Washington.
American shoppers kick off holiday season with a muted Black Friday
By Brendan Case, Jeannette Neumann And Olivia Rockeman
US retailers discounted heavily on Black Friday to clear out bloated inventories but customers responded with only modest traffic, leaving profitability in doubt for many chains.
C rowds were thin in the late morning at Connecticut’s Stamford Town Center mall, with few shoppers at Kay Jewelers and just a small line at Forever 21. A couple at a Walmart Inc. supercenter near Dallas reveled in the lack of crowds as they bought presents for their grandchildren. At the Stonestown mall in San Francisco, shoppers were few and far between.
“ It feels like a normal day,” said Miguel Martinez, 35, a warehouse supervisor walking through a Target Corp. store on Chicago’s North Side with his 12-year-old daughter, Jaylen. Mar tinez said he’s been cutting back on cable TV and Netflix to afford presents for his four chil dren. He described the Black Friday discounts as “pretty good” as he picked up a couple of Amazon Echo Dot speakers, Nerf guns and a Disney Encanto doll.Brick-and-mortar retail ers, which were hit hard by Covid-19 closures and shoppers seeking to avoid the virus, saw in-store traffic tick up 2.9% this Black Friday compared to 2021, according to preliminary data compiled by Sensormatic Solutions.
US consumers are still spending, but they’re growing more cautious after contending this year with the highest inflation rates in four decades. They’re also keeping a sharper look
out for deals, and retailers — many of them still heavy with inventory after misjudging erosion in demand—are trying to stand out by dangling the deepest discounts since before the pandemic.
Modest growth
T HE US holiday shopping season is likely to see modest to break-even growth in annual sales, said Melissa Minkow, director of retail strategy at digital consultancy CI&T. “That’s still a win,” she said, contrasting the outlook with the UK, where high inflation has caused consumers to pull back noticeably on spend ing. Still, the steep Black Friday discounts are likely to squeeze retailers.
“Profits will not be where retailers want them to be,” Minkow said. That’s in part be cause they “couldn’t pass all of the inflationary costs off to consumers.”
E-commerce spending on Black Friday rose 2.3% to $9.12 billion, according to Adobe Analytics.
T hat’s far less than the US inflation rate of almost 8% during the 12 months ended in October. Salesforce Inc. said the average con sumer discount on Black Friday was expected to be greater than 30%, up from 28% last year and close to the 33% rate in 2019. The biggest discounts were in home appliances, apparel and health and beauty.
Shoppers are cutting back in reaction to higher prices, said Rob Garf, Salesforce’s vice president of retail.
“ People are just plainly buying less prod ucts because their dollar isn’t going as far as
it used to,” Garf said.
Lonely middle
AT C rossgates Mall in Albany, New York, lowcost brands and higher-end buzzy retailers had the most foot traffic, while the middle-market stores were desolate.
G ap Inc.’s Old Navy, which was offering 60% off most items, had a line so long that some shoppers turned around as soon as they entered the store.
D rawing big crowds at the higher end were athleisure favorite Lululemon Athletica Inc., which had only a few racks of discounted merchandise, and American Eagle Outfitters Inc.’s Aerie, a popular intimates brand among Gen Z shoppers. Meanwhile, stores like Gap’s Banana Republic, Macy’s Inc. and Urban Outfit ters Inc. had no lines at all, and only a handful of shoppers.
T he healthy traffic at some retailers shows that many US consumers are still spending at a robust clip. US retail sales on Friday were up 12% year-over-year, excluding automotive, ac cording to Mastercard SpendingPulse, which measures in-store and online purchases across all forms of payment. The spending increase is not adjusted for inflation.
At a crowded Best Buy Co. store near Dal las-Fort Worth International Airport had half a dozen cars pulled up by the door to pick up large televisions and other electronic goods. Grapevine Mills, a nearby discount mall, was so crowded that Shawanda Miller threw up her hands and left.
I don’t even want to talk about it, it was
so crowded in there,” said Miller, 43. “I’m go ing to come back another day.”
No wait B U T crowds like that appeared to be an excep tion. The checkout line at the toy section at a Macy’s in Stamford, Connecticut, had no wait and the cashier said the store had prepared for more shoppers. A Walmart in suburban Dallas also had cashiers standing at the ready with no lines, which was just fine with Veronica Gonzalez and Carlos Garcia, a couple visiting from Corpus Christi, Texas.
“ What’s good about it is you don’t have to come in at 5 o’clock in the morning, and every thing is here that we’re looking for,” Gonzalez said. Garcia said “everything’s for the grand k ids” as he pushed a shopping cart full of bed sheets, suitcases and toys.
T he era of Black Friday crowds came to a halt with the pandemic, and it probably isn’t coming back as more consumers shop online and spread their spending out over a longer pe riod. “The historic raucous atmosphere of Black Friday may be in the past,” Edward Yruma, a retail analyst at Piper Sandler, said in a report.
Behind the moderate crowds are people such as Therese Pociask, 60, who was shop ping at Target in Chicago for her small daycare center. She was also looking for gifts for her nieces and nephews. In her cart were an Epsom-salt gift pack, Fujifilm Instax camera film, three stuffed dinosaurs and a puzzle.
At Nantucket retreat, Biden family weighs 2nd term run
By Josh Wingrove
President Joe Biden and his family are tackling a weighty question during their t ha nksgiving holiday retreat to the chilly quiet of n a ntucket: whether he’ll seek a second term in 2024.
A final decision won’t be made on the Massachusetts island, where the Bidens are staying at a home owned by Carlyle Group i nc . co-founder and Bloomberg contributor d a v id r u benstein while enjoying beach walks, local restaurants and shopping. Biden insisted the weekend getaway was just a holi day celebration, but the presi dent and his closest relatives are expected to discuss a potential re-election bid there and during the Christmas holidays, current and former aides say.
t h e president and first lady Jill Biden arrived tu esday at n a ntucket, where they have regularly spent t h anksgiving dating back to before Biden was vice president. A few close fam ily accompanied them, including Biden’s daughter Ashley and his son Hunter, who is expected to be a target of House r e publi can investigations in the next two years.
Biden has the wind at his back, after his d e mocratic Party enjoyed a historically success ful midterm election. His aides widely expect him to run again, and his team is moving forward as if a final announcement is a formality. But the president has said his family will have an outsized say in the decision, which isn’t expected until next year.
“ i f h is heart is in it, they are there for him. it i s highly unlikely they will not support him,” said Michael La r o sa, a former aide to Jill Biden. “He’s running. And i don’t know who else but him should be running. He’s proven himself to be not just an effective campaigner, but an effective executive.”
‘A family decision’ Biden downplayed the stakes of the trip, ignoring shouted ques tions about 2024 on Friday and when asked again on s aturday how the discussions were going.
“We’re not having any, we’re celebrating,” he said to report ers as he, Jill Biden and family shopped on n a ntucket’s Main s treet.
e v en so, Biden has repeat edly said he intends to run and has cited only his family or a surprise development, such as a health crisis, as deterrents. t h e holiday getaway gives him the chance to weigh that decision outside of Washington.
“My intention is that i run again. But i m a great respecter of fate. And this is, ultimately, a family decision,” Biden said this month, adding a decision could come “early next year.”
t h e Bidens are a fixture on n a ntucket. t h e area skews d e mocratic, as does n e w e n g land, where the party swept U s House and s e nate midterm races. But there are GOP pockets on the island: r e publican s e nate candidates Herschel Walker, J d Vance and Mehmet Oz all raised money there.
But the smattering of pro testers and tr ump supporters who often harry Biden on his travels elsewhere in the country are absent in na ntucket. Cheers and encouragement greeted his every move; people lined up at restaurants for a chance to dine near him and huddled over their phones to compare photos after he passed by. t h e local pharmacy sells Joe Biden action figures.
Jill Biden, shopping on her own Friday morning, drew a
crowd of onlookers outside each shop she popped into. “We love you!” one woman shouted.
After lunch, as the president and first lady walked a few blocks through town and posed for a photo with one shopkeep er, bystanders shouted “we love you Mr. President!” and “no red wave, no red wave”—a ref erence to r e publicans’ fizzled expectations of broad midterm gains.
But even among a friendly audience, Biden’s age is an is sue. t h e president turned 80 on s u nday, making him the first octogenarian to occupy the White House. An admirer shouted “happy birthday” to him as he was shopping.
He would turn 82 the month of the 2024 election and would be 86 at the end of a second term.
Many d e mocrats want their party to embrace younger lead ers, polls have shown.
“His age is a little bit of a con cern,” Wendy Beardsley, 67, oth erwise a Biden supporter, said Friday in na ntucket as Jill Biden shopped down the street. s h e noted the president’s occasional stumbles in public remarks.
“ s o metimes, i don’t watch it because he makes me nervous that he’ll mess up,” she said.
But she said the president’s accomplished a lot and she’s gen erally happy with him compared to alternatives—especially for mer President d o nald tr ump, who has already announced a third run for the White House.
s h e would “most definitely” back Biden over tr ump, she said.
t h e White House declined to comment for this story. One aide said Biden was underestimat ed in 2020 and that questions about his age were overblown then and now.
Ugly campaign
Ji LL B iden, his children and grandchildren are all crucial sounding boards for Biden, who often recounts discussions with them before deciding on his 2020 run.
“ t h ey started off and said, ‘Pop, you got to run,’” Biden re called during a campaign stop on n o v. 1. “ t h e reason i was re luctant to run: i knew how ugly it was going to be.”
t he president said his grand son showed him a crude meme smearing Biden as a sexual predator—acknowledging that it would be ugly for the family regardless of whether he ran.
t h at’s when i decided to run —when they asked me to do it,” he recalled. “ t h ey knew what was coming; it wasn’t going to be a shock to them.”
s t orm clouds loom again for Biden’s family. House r e publi cans are planning a raft of in vestigations next year, includ ing into Hunter Biden’s business ties, which they allege could compromise the president.
Biden has largely shrugged off the threat. “ t h e American people will look at all of that for what it is. i t ’s just almost comedy,” he said earlier this month.
t h e investigations, though, will likely bring the family’s dealings and matters such as Hunter Biden’s battles with ad diction back in the public spot light. Biden wants to make sure his family is up for another run because the process will be more bruising than 2020, one former aide said.
t h e first lady holds the most sway in Biden’s decision, aides say.
t h e president has signaled she’s on board, telling M s n B C last month Jill Biden believes “we’re doing something very important, and i shouldn’t walk away from it.”
The World BusinessMirror Monday, November 28, 2022 A7 www.businessmirror.com.ph
Bloomberg News
With assistance from Leslie Patton, Deena Shanker, Martine Paris, Tiffany Kary and Victoria Cavaliere / Bloomberg
Norwegi AN diplomat Dag Nylander, left, and President of the National Assembly of Venezuela, Jorge rodri guez, confer during a signing ceremony for an agreement to create a U.N.-managed fund to finance health, food and education programs for the poor during a ceremony at a hotel in Mexico City on Saturday, Nov. 26, 2022. The agreement signed by representatives of Venezuelan President Nicolás Maduro and the opposi tion marked the resumption of long-stalled negotiations meant to find a common path out of their country’s complex crisis. The US government, in response, agreed to allow oil giant Chevron to pump Venezuelan oil.
AP PH OTO/F ER NANDO L L ANO
Russian nationalist says army has too few doctors
Kim’s daughter appears again, heating up succession debate
By Hyung-Jin Kim The Associated Press
SEOUL, South Korea—North Korean leader Kim Jong Un’s daughter made a public ap pearance again, this time with missile scientists and more hon orific titles as her father’s “most beloved” or “precious” child. She’s only about 10, but her new, bold photos are deepening the debate over whether she’s being primed as a successor.
named Ju Ae.
The comments by Leonid Slutsky, leader of the populist Liberal Democratic Party and chairman of the foreign relations commit tee in the lower house of parliament, was an unusually public admission of problems within the military as Russian forces suffer a series of battlefield setbacks.
“There are not enough doctors in the mili tary units; everyone says this. I cannot say they do not exist at all, but they are prac tically not seen there,” Slutsky said at the meeting in St. Petersburg.
Olga Suyetina, foster mother of a soldier mobilized for the Ukraine conflict said she
has heard from her son that the troops are underequipped.
“There are no gunsights, nothing, we have to buy them by crowdfunding,” she said, re ferring to a device on a gun that helps to aim it. “There is nothing; they left Kharkiv, there was zero, there was not even polyethylene to cover the dugouts.”
Slutsky, a strong supporter of Russia’s fight in Ukraine, said he would address the Defense Ministry about problems that troops face in Ukraine.
“We must understand that the whole world is watching us. We are the largest state and when we do not have socks, shorts, doctors, intelligence, communications, or simply care for our children, questions arise that will be
very difficult to answer,” he said.
The meeting came a day after President Vladimir Putin met with another group of soldiers’ mothers. At that meeting Friday he hit out at what he said were skewed media portrayals of Moscow’s military campaign.
“Life is more difficult and diverse that what is shown on TV screens or even on the Internet. There are many fakes, cheating, lies there,” Putin said.
Putin said that he sometimes speaks with troops directly by telephone, according to a Kremlin tran script and photos of the meeting.
“I’ve spoken to (troops) who surprised me with their mood, their attitude to the matter. They didn’t expect these calls from me,” Putin said. He added that the calls “give me every reason to say that they are heroes.” AP
Pakistan’s ex-PM Khan says his party to quit all assemblies
By Riazat Butt The Associated Press
ISLAMABAD—Pakistan’s former premier Imran Khan said Saturday his party was quitting the country’s regional and na tional assemblies, as he made his first public appearance since being wounded in a gun attack earlier this month.
Khan, a former cricket star turned politi cian, was ousted in a no-confidence vote in Parliament in April. He is now in the opposi tion and has been demanding early elections, claiming his ouster was illegal and orches trated by Prime Minister Shahbaz Sharif, with the US government’s help. Sharif and Washington have dismissed the al legations and the current govern ment says the next polls will be held as
scheduled in 2023.
Khan launched a protest march late last month from the eastern city of Lahore to ward Islamabad as part of his campaign for early polls, but stepped down from person ally leading the convoy after he was wounded by a gunman who opened fire at his vehicle.
One of Khan’s supporters was killed and 13 were wounded in the attack. The gunman was arrested.
On Saturday night, in the city of Rawal pindi near Islamabad, Khan rejoined the protest march, where he made his remarks.
He told tens of thousands of his cheering supporters that his Tehreek-e-Insaf party was leaving all regional and national assem blies and getting out of this “corrupt system.”
His party resigned from the national as sembly en masse in April ahead of a vote to elect a new prime minister, although most of the resignations have yet to be accepted.
Khan’s stronghold is in the northwest prov
ince of Khyber Pakhtunkhwa, and leaving the Punjab assembly would hand power to his rivals.
The politician spoke for more than an hour and included references to the Sufi mystic Rumi and the fall of the Soviet Union.
Toward the end of his speech, Khan did a U-turn on his demand for snap elections, saying his party would win the polls scheduled for nine months’ time. He also said he would no longer march on the capital.
“They (the government) cannot deal with a march in Islamabad, they can call as many police as they want, but they cannot stop the hundreds of thousands from entering Islamabad,” said Khan. “We could have cre ated a situation like Sri Lanka. I have decided against marching on Islamabad because I don’t want there to be anarchy in the country. I don’t want to cause any harm to this country.”
After months of protests over an economic crisis that has led to shortages of essentials such as food and medicine, thousands of Sri Lankans stormed the president’s residence in July, forcing then-President Gotabaya Rajapaksa to flee and later resign.
1 dead, up to 12 missing in landslide on Italian island
By Colleen Barry The Associated Press
and swept parked cars into the sea, leaving at least one person dead and up to 12 missing.
The body of a woman was pulled from the mud, the Naples pre fect Claudio Palomba, told a news conference.
With raining continuing to fall, rescuers were working gingerly with small bulldozers to pick through some six to seven meters (yards) of mud and detritus in the search for possible victims. Rein forcements arrived by ferry, including teams of sniffer dogs to help the search efforts.
The force of the mud sliding down the mountainside just before dawn was strong enough to send cars and buses onto beaches and into the sea at the port of Casamicciola, on the north end of the is land, which lies off Naples.
The island received 126 millimeters (nearly five inches) of rain in six hours, the heaviest rainfall in 20 years, according to officials.
Streets were impassable and mayors on the island urged people to stay home. At least 100 people were reported stranded without electricity and water, and about 70 were housed in a community gymnasium.
There was early confusion over the death toll. Vice Premier Mat teo Salvini initially said eight people were confirmed dead, followed by the interior minister saying that no deaths were confirmed, while 10 to 12 were missing.
“The situation is very complicated and very serious because probably some of those people are under the mud,” Interior Minister Matteo Piantedosi told RAI state TV from an emergency command center in Rome.
ANSA reported that at least 10 buildings collapsed. One family with a newborn that was previously reported missing was located and was receiving medical care, according to the Naples prefect.
Video from the island showed small bulldozers clearing roads, while residents used hoses to try to get mud out of their homes. One man, identified as Benjamin Iacono, told Sky TG24 that mud overwhelmed three adjacent shops that he owns, completely wiping out his inventory. He estimated damage at 100,000 euros to 150,000 euros ($104,000 to $156,000).
The daughter, believed to be Kim’s second child named Ju Ae and about 9 or 10 years old, was first unveiled to the outside world last weekend in state media pho tos showing her observing the North’s intercontinental ballistic missile launch the previous day with her parents and other older officials. The daughter wearing a white puffy coat and red shoes was shown walking hand-in-hand with Kim past a huge missile loaded on a launch truck and watching a soaring weapon.
On Sunday, the North’s offi cial Korean Central News Agency mentioned her for the second time, saying she and Kim took group photos with scientists, officials and others involved in what it called the test-launch of its Hwa song-17 ICBM.
KCNA described her as Kim’s “most beloved” or “precious” child, a more honorific title than her previous description of “(Kim’s) beloved” child on its November 19 dispatch. State media-released photos showed the daughter in a long, black coat holding her fa ther’s arm as the two posed for a photo. Taking after her mother Ri Sol Ju, who wasn’t visible in any of the photos Sunday, she had a more mature appearance than in her unveiling a week ago.
Some photos showed the pair standing in the middle of a line of uniformed soldiers before a mas sive missile atop a launch truck. Others showed Kim’s daughter clapping her hands, exchanging handshakes with a soldier or talk ing to her father as people cheered in the background.
“This is certainly striking. The photograph of Kim Ju Ae standing alongside her father while being celebrated by technicians and sci entists involved in the latest ICBM launch would support the idea that this is the start of her being positioned as a potential succes sor,” said Ankit Panda, an expert with the Carnegie Endowment for International Peace.
“State media underscoring her father’s love for her further un derscores this, I think. Finally, both of her initial public appear ances have been in the context of strategic nuclear weapons — the crown jewels of North Korea’s na tional defense capabilities. That doesn’t strike me as coincidental,” Panda said.
After her first public appear ance, South Korea’s spy service told lawmakers that it assessed the girl pictured is Kim’s second child, who is about 10 and whose name is Ju Ae. The National In telligence Service said her looks matched information that she is taller and bigger than other girls of the same age. It also said that her unveiling appeared to reflect Kim’s resolve to protect the secu rity of North Korea’s future gen erations in the face of a standoff with the United States.
South Korean media previ ously speculated Kim has three children—born in 2010, 2013 and 2017—and that the first child is a son while the third is a daughter. The unveiled daughter is highly likely the child who retired NBA star Dennis Rodman saw during his 2013 trip to Pyongyang. After that visit, Rodman told the British newspaper The Guardian that he and Kim had a “relaxing time by the sea” with the leader’s family and that he held Kim’s baby daughter,
North Korea has made no men tion of Kim’s reported two other children. But speculation that his eldest child is a son has led some experts to question how a daugh ter can be Kim’s successor given the deeply male-dominated, pa triarchal nature of North Korean society. Kim is a third-generation member of the family that has run North Korea for more than seven decades, and his father and grand father successively governed the country before he inherited power in late 2011.
“We’ve been told that Kim has three children, including possibly a son. If this is true, and if we as sume that the male child—who has yet to be revealed—will be the heir, is Ju Ae truly Kim’s most ‘precious,’ from a succession stand point?” said Soo Kim, a security analyst at the California-based RAND Corporation. “I think it is too early to draw any conclusions.”
She said that Kim Jong Un may think his daughter’s unveiling is an effective distraction while conditioning Washington, Seoul and others to living with the North Korean nuclear threat as “the spectacle of Ju Ae appears to eclipse the intensifying gravity of North Korea’s nuclear and missile threat.” She added that by parad ing his daughter around, Kim Jong Un may also want to tell his people that nuclear weapons are the sole guarantor for the country’s future.
In comments published by state media Sunday, Kim called the Hwasong-17 “the world’s stron gest strategic weapon” and said his country’s ultimate goal is pos sessing “the world’s most powerful strategic force.”
Experts say the Hwasong-17 is North Korea’s longest-range missile—designed to strike the mainland US—but is still under development. Its launch was part of a barrage of missile tests that North Korea says were meant to issue a warning over US-South Ko rean military drills that it views as an invasion rehearsal.
“Kim may be signaling to oth er North Korean elites that he is mentoring his daughter for a role in the leadership,” said Leif-Eric Easley, a professor at Ewha Uni versity in Seoul.
“Giving her such an early and public start is unusual but reflects the historical and political signifi cance Kim attaches to a nuclear missile that can reach the United States,” he added.
Analyst Cheong Seong-Chang at the private Sejong Institute in South Korea said that Kim Jong Un cannot make his son his suc cessor if he thinks he lacks lead ership. Cheong said Kim may be preventing potential pushback for choosing a daughter as a fourthgeneration leader, so he likely brought her to a successful ICBM launch event to help public loyalty toward him be carried on smoothly to his daughter.
“When a king has many chil dren, it’s natural for him to make his most beloved child as his suc cessor,” Cheong said. “Kim Ju Ae is expected to appear occasionally at Kim Jong Un’s public events and take a succession training.”
Revealing the young Ju Ae came as a huge surprise to foreign ex perts, as Kim Jong Un and his fa ther Kim Jong Il were both first mentioned in state media dis patches after they became adults. Cheong, however, said Kim Jong Il had Kim Jong Un in mind as his heir when his son was 8 years old. Cheong cited his conversa tions with Kim Jong Un’s aunt and her husband, who defected to the United States.
The fact that the South Korean spy agency said Ju Ae is about 10 years old despite reportedly being born in 2013 could be related to the country’s age-calculating system that typically makes people’s ages one or two years older.
A8 BusinessMirror The World Monday, November 28, 2022 www.businessmirror.com.ph
MOSCOW—One of Russia’s most prominent nationalist politicians said the Russian military does not have an adequate number of doctors among other problems, a message he delivered in a meeting Saturday with the mothers of soldiers mobilized for the fight in Ukraine.
u T NI k kR e M l N P
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Russian President Vladimir Putin meets with mothers of military personnel serving in the special military operation ahead of Mother’s Day at the novo-Ogaryovo residence outside Moscow, Russia on nov. 25, 2022. Mother’s Day is celebrated on the last sunday of november. Alex AN d e R SH CH e RBA k SP
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H OTO VIA AP
MI l A N—Heavy rainfall triggered a massive land slide early Saturday on the southern Italian resort island of Ischia that destroyed buildings
editorial
Is a Philippine CBDC coming?
OCtOBer 29, 1929 is marked as the day the US stock market “crashed,” the first falling brick in the Great Depression. November 2022 will be looked on in the financial markets in commemoration of the multibillion-dollar failure of the FtX crypto and its FtX coin or token.
By definition, “A crypto token is a virtual currency token. It represents a tradable asset that resides on its own blockchain and allows the holder to use it for economic purposes.”
While fiat or “paper” money is backed by “the full faith and credit” of the issuing government—and what that full faith and credit actually means is difficult to know—we do know that a government is going to do whatever is necessary to make sure that everyone continues to use its currency.
“Crypto” is backed by the full faith and credit of the user (not the issuer) who believes—not actually “knows”—that he can covert that token to paper money at any time.
There have been many instances of a government’s money becoming worthless because of a loss of confidence in that government. But with cryptos, the loss of confidence in the issuer comes after the token become worthless.
While all the “cryptonauts” have been telling us that eventually your paper money also will be worthless, since Bitcoin came into existence in 2009, many other cryptocurrencies have failed after their launch. By May 2022, at least 2,421 cryptocurrencies have gone worthless, according to Coinopsy. That is a significantly large number of dead coins, even when compared to the 10,025 cryptocurrencies that have been in existence.
Nonetheless, governments are keenly interested in creating their own form of “Bitcoin,” which are called Central Bank Digital Currency (CBDC).
They are similar to other cryptos but are issued by a country’s central bank. More importantly, their value in local currency never changes as they are “pegged” to that currency.
In practice there is no value difference between paper money and a CBDC unit because they are totally interchangeable. It is just the next step in paperless money.
We use “digital money” all the time from paying with a bank debit card or using services such as GCash. It is important to note that “credit cards” are not digital cash. With a debit card or a GCash service, paper money has been deposited into the account previous to the transaction. A credit card “creates” new money when you use that type of payment.
CBDC is an easier way to spread “financial inclusion.” We know that a large percentage of Filipinos do not have a bank account. Even in the US, 5 percent of adults do not have a bank account. An additional 13 percent of US adults have bank accounts but use expensive alternative services like money orders, payday loans, and check cashing.
Investopedia: “The main goal of CBDCs is to provide businesses and consumers with privacy, transferability, convenience, accessibility, and financial security. CBDCs could also decrease the maintenance that a complex financial system requires and provide those who currently use alternative money transfer methods with lower-cost options.”
Banks and services like GCash usually charge a fee someplace along the transaction/transfer chain. Presumably this would end with wide acceptance and use of CBDCs.
The US Federal Reserve plans to launch a 12-week pilot program in partnership with several large commercial banks to test the feasibility of a central bank digital currency. India is working on developing a digital rupee and recently announced the second phase of testing.
The Bangko Sentral ng Pilipinas will launch a pilot program for its own CBDC. Project CBDCPh aims to bring hands-on knowledge of the key aspects of CBDC’s nature and its implication for the country’s financial system. It is only a matter of time.
The legacy of a good name
RISING SUN
YeSterDaY, November 27, was the 90th birth anniversary of Senator Benigno “Ninoy” aquino Jr. who was shot dead on august 21, 1983. Yesterday was, incidentally, the First Sunday of advent. there was a celebration of the Holy Mass led by Fr. tito Caluag. there is also an online tribute for Ninoy on the Ninoy and Cory aquino Foundation Facebook page. titled “Ninoy 90: Called to be a Hero,” it aims to honor his life and heroism. Posts paying tribute to Ninoy may use the hashtags: #Ninoy90 #CalledtoBeaHero #NinoyIsaHero #aquinoLegacy #NinoyandCory #Ninoyaquino #PHhistory.
He leaves the greatest legacy, his name and honor. In a letter that Ninoy wrote for his son Benigno Simeon “Noynoy” Aquino III, he said: “I have tried my best during my years of public service to keep that name untarnished and respected, unmarked by sorry com-
promise for expediency.” He was proud to pass on to his only son a name that was as good as when Ninoy’s father and grandfather passed it on to him. Ninoy’s grandfather, General Servillano Aquino, was twice condemned to death by the Spaniards and the American
In a letter that Ninoy wrote for his son Benigno Simeon “Noynoy” Aquino III, he said: “I have tried my best during my years of public service to keep that name untarnished and respected, unmarked by sorry compromise for expediency.” He was proud to pass on to his only son a name that was as good as when Ninoy’s father and grandfather passed it on to him.
colonizers. Fortunately, he was able to survive both events. Ninoy’s father, Benigno Aquino Sr., who was also imprisoned by the Americans, was eventually vindicated. I believe former president Noynoy Aquino also protected this name very well, honestly serving his country and his people to the best of his ability. Some people leave behind wealth or material possessions, but as a true hero who was occupied with untiring service for his fellowmen, he was not able to amass riches for his own family. If Ninoy were your
father and you knew about his sacrifices—including the greatest of them all, his life—in the name of public service, would you take that lightly? I think not. For any child of such a great man, the natural reaction would be to maintain the family’s honor. Remember this the next time you read malicious stories about Ninoy or his family. This applies to all things: It is good to always keep an open mind and think critically, rather than believe everything we read.
Ninoy was assassinated almost 40 years ago. The pain it caused to his family and the Filipinos is great, and it is still there. But to this day, we continue to be grateful for his honorable life and sincere service. He had said that the Filipino is worth dying for—this was not mere lip service for indeed he courageously died for his countrymen. On this occasion, we pray for Ninoy’s eternal rest and also request for his unceasing guidance for us who remain as we continue to face the same challenges he so valiantly fought to overcome.
Kidnappings, looting cited in Ethiopia’s Tigray after truce
By Rodney Muhumuza | The Associated Press
KaMPaLa, Uganda—a llies of ethiopia’s federal military are looting property and carrying out mass detentions in tigray, according to eyewitnesses and aid workers.
The accounts raise fresh concern about alleged atrocities more than three weeks after the warring parties signed a truce that diplomats and others hoped would bring an end to suffering in the embattled region that’s home to more than 5 million people.
Tigray is still largely cut off from the rest of Ethiopia, although aid deliveries into the region resumed after the November 2 cease-fire deal signed in South Africa. There’s limited or no access into the region for human rights researchers, making it difficult for journalists and others to obtain information from Tigray as Ethiopian forces continue to assert control of the region.
Eritrean troops and forces from the neighboring Ethiopian region of Amhara—who have been fighting on the side of Ethiopia’s federal military in the Tigray conflict—have looted businesses, private properties, vehicles, and health clinics in Shire, a northwestern town that was captured from Tigray forces last month, two aid workers there told The Associated Press, speaking on condition of anonymity because of safety concerns.
Several young people have been kidnapped by Eritrean troops in Shire, the aid workers said. One said he saw “more than 300” youths being rounded up by Ethiopian federal
troops in several waves of mass detentions after the capture of Shire, home to a large number of internally displaced people.
“There are different detention centers around the town,” said the aid worker, who also noted that Ethiopian federal troops were arresting people believed to be “associated” with the Tigray People’s Liberation Front, or TPLF, the political party whose leaders led the war against the federal government.
Civilians accused of aiding Tigray forces are being detained in the southern town of Alamata, according to a resident there who said Amhara forces had arrested several of his friends. A former regional official said Amhara forces are also carrying out “mass” arrests in the town of Korem, around 20 kilometers (12 miles) north of Alamata, and in surrounding rural areas.
Both the Alamata resident and the former regional official, like some others who spoke to AP, requested anonymity because of safety concerns as well as fear of reprisals.
The continuing presence of Eritrean troops in Tigray remains a sore point in the ongoing peace process, and the US has called for their withdrawal from the region.
The military spokesman and government communications minister in Ethiopia didn’t respond to a re-
quest for comment. Eritrea’s embassy in Ethiopia also didn’t respond.
Eritrea, which shares a border with Tigray, was not mentioned in the text of the cease-fire deal. The absence of Eritrea from cease-fire negotiations had raised questions about whether that country’s repressive government, which has long considered Tigray authorities a threat, would respect the agreement.
A subsequent implementation accord, signed by military commanders in Kenya, states that the Tigray forces will disband their heavy weapons “concurrently with the withdrawal of foreign and non-[federal] forces from the region.”
Yet aid officials, diplomats and others inside Tigray say Eritrean forces are still active in several areas of Tigray, hurting the peace process.
Eritrean troops have been blamed for some of the conflict’s worst abuses, including gang rapes.
Tigrai Television, a regional broadcaster based in the Tigrayan capital of Mekele, reported on Nov. 19 that Eritrean soldiers killed 63 civilians, including 10 children, in an area called Egela in central Tigray. That report cited witnesses including one who said affected communities were being prevented from burying their dead.Ethiopian Prime Minister Abiy Ahmed and US Secretary of State Antony Blinken discussed the importance of implementing the peace deal, “including the withdrawal of all foreign forces and the concurrent disarmament of the Tigray forces” in a phone call Monday, according to State Department spokesman Ned Price.
Four youths were killed by Eritrean forces in the northwestern Tigray town of Axum on November 17, a humanitarian worker told the AP. “The killings have not stopped despite the peace deal…and it is being carried out in Axum exclusively by Eritrean forces,” the humanitarian worker said.
A statement from Tigray’s communication bureau last week said Eritrea’s military “continues committing horrific atrocities in Tigray.” That statement charged that Eritrean President Isaias Afwerki “is bringing more units into Tigray though [he is] expected to withdraw his troops” following the cease-fire deal.
The brutal fighting, which spilled into the Amhara and Afar regions as Tigray forces pressed toward the federal capital last year, was renewed in August in Tigray after months of lull.
Tigray is in the grip of a dire humanitarian crisis after two years of restrictions on aid. These restrictions prompted a UN panel of experts to conclude that Ethiopia’s government probably used “starvation as a method of warfare” against the region.
Ethiopian authorities have long denied targeting civilians in Tigray, saying their goal is to apprehend the region’s rebellious leaders.
Despite the African Union-led cease-fire, basic services such as phone, electricity and banking are still switched off in most parts of Tigray. The US estimates hundreds of thousands of people could have been killed in the war marked by abuses on all sides.
www.news.businessmirror@gmail.com Monday, November 28, 2022 • Editor: Angel R. Calso Opinion BusinessMirror A10
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Gathering of batchmates
Joel L. Tan-Torres
DEBIT CREDIT
MosT of us were in our mid-60s. A great number were already retired from their employment or had turned over their businesses to their successors. No question that all of us who attended our mini-reunion of high school classmates were enthusiastic about meeting and reminiscing about the good all days more than 50 years ago, as well as sharing the good things that happened thereafter.
My high schoolmates of the 1974 High School Batch of De La Salle Lipa gathered a few days ago in a Makati restaurant. We got together to host lunch for two of our United Statesbased classmates who were visiting. It was also a good opportunity for us to socialize and plan for our forthcoming golden jubilarian event. There were all 20 of us who came and we had a grand time just being there in a gathering of bosom friends and for some of us, long-lost batchmates. We immediately dispensed with the priority matters. We all agreed to continue our initial efforts of organizing and preparing for our grand golden anniversary celebration scheduled in 2024. These included forming a non-stock non-profit organization that will be registered with the Securities and Exchange Commission that will handle the financial aspects of our batch. This will be a good vehicle to perpetuate the “legacy” of our batch that can pursue the advocacy intent of our group. As typical of most social communities, we agreed to further expand our communication networks, such as our Viber group and batch directory. There was unanimity in organizing more frequent meetups, including those who are near each other in Metro Manila, Lipa City, or the East or West Coast of the United States, where a number of our batchmates are residing. We do not need to wait for a visit of classmates from abroad to gather together. Time is fast passing by all of us, so we would like to have more occasions to enjoy the company of friends and batchmates. Someone shared the amazing development in De La Salle Lipa and all wanted and planned to visit our alma mater soon even before our jubilarian event. A classmate performed his usual task of distributing giveaways. We all had an early Christmas as we all received customized T-shirts and mugs with prints of our batch event and the names of those who attended.
Then the fun activities started. We all had a grand time enjoying the stories and company over five hours with our lunch extending to taking coffee in a nearby shop. I was not there to participate and witness this, but some said that a number of our batchmates even continued the minireunion way past dinner into the wee
Giving is not and should not be dependent on one’s financial resources. In our own little way, we can give, and give with a gracious heart, either food as in the case of the pilgrims in America, time and money as in the case of my nephew Inno, talent as in the case of my son Jason, and even vital organs as in the case of Ezra Carpio. Let us all be good stewards of God’s resources that were sent our way.
hours of the following morning with invited “guests.”
There was a sharing of what’s up now with one another. Most mentioned that they are now adjusting to the life of a retiree. Some have taken well-deserved vacations out of the country after their retirement. A number had a wish list of places to travel, such as the Northern Lights in Iceland and a Holy Land pilgrimage in Jerusalem and Israel. There were those who can now give more time to their passion and interests, such as deep sea fishing, underwater diving, big bikes, farming, doing “apostolic” work, and many others. A game of Trivia was organized, with the revelation of who among us had the most children, grandchildren, and even wives and partners. There was sharing of medical and health conditions and the best cure for these. At least five of our batchmates are medical doctors. The classmate doctors in attendance at our minireunion were very generous in giving medical advice, including a cheaper and equally effective alternative to the little blue pill, Viagra.
Finally, our mini-reunion had to end. We bidded goodbyes and safe travels to one another and resolved to meet soon…sooner than later.
Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax practice and can be contacted at joeltantorress@ yahoo.com
Beyond financial giving
Siegfred Bueno Mison, Esq.
THE PATRIOT
Across the United states of America families and friends converge to celebrate Thanksgiving weekend, whose origin can be traced back to 1620. coming from England, a group of “religious separatists” (eventually known as pilgrims) on board a small ship sought a new home where they could freely practice their faith.
T here were others on board the same ship that joined the voyage, lured by the promise of prosperity in the “New World.” After crossing the Atlantic Ocean, they settled in Massachusetts to establish a community but failed principally due to a brutal winter and the lack of knowledge and experience of growing crops. With some help from Native Americans, the Pilgrims eventually enjoyed a harvest that led then Governor Bradford to organize a feast, which is now considered as America’s first Thanksgiving. And, of course, the feast was, based on Bradford’s account, filled with a “great store of wild turkeys, of which they took many, besides venison, etc.” Since then, turkey, typically roasted or sometimes fried, is almost always seen at any Thanksgiving table in America.
When it comes to Thanksgiving celebrations in America, I usually enjoy the Asuncion hospitality in the Bay Area with my sister Melinda and her family. This time around, since my sister and her husband Albert decided to give their time and energy accompanying my nonagenarian father and octogenar-
ian mother across America in their longest ever vacation (more than a hundred days), my port of entry was Los Angeles instead of San Francisco. This time around, my nephew Alberto Inigo, more known as Inno, was my welcoming committee in LA. Exhibiting the “generous genes” of his parents (Melinda and Albert), Inno, not surprisingly, gave his time, energy, and just about everything else, to make my short stay in LA action-packed, if not entertaining, together with my son Jason and daughter Nica. Years ago, Inno, whose online business Shareably with more than a million Facebook followers, was generous with his time as a 10-year-old as he helped me review for the California Bar exams by quizzing me during his study breaks. Giving does not have to correspond or even depend on one’s financial resources. My son Jason lent his talent in hosting a game show during our thanksgiving weekend celebration on top of sharing his talent in strength and conditioning coaching in the wee hours of the day/night. Despite the effects of jet lag, Jason managed to keep his grandparents, uncles and
aunts, nephews and nieces, amused and entertained, all in the spirit of generosity.
Giving is not dependent on age as well, as seen in Ezra Carpio. Ezra, was only three years old when he died in a drowning incident. Through his parents, Ezra became the youngest organ donor in the Philippines. And by coincidence or providence, Ezra means “helper” in Hebrew. In the Bible, Ezra was a priest who helped restore the Jewish faith in Jerusalem. As they decided to give fully functioning organs to others, the parents of Ezra said, “Ezra will live on through others. With the support of our families, we decided to donate viable organs left in his body.” They added that, “Ezra’s kidneys are currently being harvested so that he can allow another person to live longer, and his corneas will allow seven other people to see the beauty of the world. This is the legacy we can give our child, so he lives on in the lives of others through sacrifice and the gift of generosity.” Ezra’s kidneys have reportedly been transplanted in a 24-year-old recipient. I can say that due recognition should be given to Ezra and her parents who are great givers in the mold of the greatest giver of all time—Jesus Christ. “He who did not spare his own Son, but gave him up for us all—how will he not also, along with him, graciously give us all things?” (Romans 8:32).
Even though we do not deserve salvation (and any other “reward”) due to our sinfulness, we nonetheless receive them because of a generous and gracious God!
Our country, reeling from the effects of a lingering pandemic, needs a kind of generosity beyond the financial. While the Philippines does not have a thanksgiving holiday unlike
Ensuring the educational well-being of
By Mars A. Almazan
AS teachers and parents, our primary goal is to promote learning among our students, inspire them in order to bring out the best in them, and help them become productive members of the community.
Teachers can become popular by building good relationships with their students. They can do this by treating students well and helping the learners to understand instructions to be able to do their lessons and assignments with ease. But this is not possible without the help from all stakeholders of our schools.
Stakeholders are individuals or groups that have profound interest in the individual success of learners. These include teachers, parents, school administrators, board members, local government officials, and those who contribute for the welfare and development of the school community.
Developing a healthy relationship
Troubling Ukraine video of war crimes
LITO GAGNI
Th Er E is a troubling video of what the current Ukraine crisis has spawned and which the venerable New York Times has written about, which creates the need for people to look at the two sides of a coin before passing judgment. That video, corroborated by the NYT from satellite images, shows once and for all the atrocities that were committed by the Ukraine soldiers and from what the Us paper surmised can be considered as war crimes.
“Grisly,” is how the NYT described the video where Russian soldiers, apparently surrendering, were shot and killed by Ukraine soldiers, and most of them got bullets in the head. The article, with the joint byline of Malachy Browne, Stephen Hiltner, Chevaz Clarke-
Williams and Taylor Turner, detailed the gruesome murder of what can be considered as hors de combat soldiers that is now being looked at by the UN Human Rights Office. Much of Western media has pointed to the direction of Russia as being guilty of war crimes, such
as the one in Bucha, but Russia has been contesting this. And now that the NYT has documented what tantamount to war crimes from the side of Ukraine, will the world now look at the two sides of the coin and be disabused on the narrative that only Russia is at fault?
In the ongoing conflict, Russia is being portrayed as the villain and yet when one has to look at the war’s provenance, there is a need to zero in on the peace accords that were initiated in the capital of Belarus, Minsk. There was a Minsk 1 and then a Minsk 2 with Germany and France participating in the efforts to craft a peace agreement involving the Donbas, dominated by Russian-speaking population.
The two peace accords, with agreements signed by two separatist leaders in Donbas and which detailed what Ukraine should implement, simply collapsed. And now, peace overtures are again being
among teachers and stakeholders is of utmost importance because we all want to work together and have a positive impact on students. Parents desire a successful education system for their children, while the students themselves have an interest in receiving a good education. It’s also easy to imagine the influence that the education system has on government officials, like city councilors and state representatives, as voters may base their decisions on the way such officials support the school system.
In fact, the community as a whole is a stakeholder in the country’s education system. This is because local schools educate future employees, business owners, and community leaders. A solid education program builds a stronger community by better preparing the students to be responsible community members.
Since all members of a community are in a sense stakeholders in our education system, one may be wonder-
ing how each individual stakeholder contributes to ensure success.
Every stakeholder plays a different if not significant role in the success of the education system. For example, stakeholders’ input and relations with other groups are key components that can help enhance the planning and implementation of education programs in schools. The perceptions and understanding of parents, for instance, can provide ground level and highly applicable opinions that can help improve the school environment.
In addition, parents may help in monitoring and evaluating the implementation of the school curriculum. Engaged parents are key factors in helping students and schools succeed.
Furthermore, the parents may help teachers to monitor the behavior and social development of the student, especially for learners with special education needs.
As teachers, we are dealing with fragile human beings. Adolescence
in the US, we can celebrate it by simply putting others first, in line with the Bible in 1 Peter 3:8 tells us, “Now, this is the goal: to live in harmony with one another and demonstrate affectionate love, sympathy, and kindness toward other believers. Let humility describe who you are as you dearly love one another.” Such verse reminded me of what my sister Irene prayed for to formally end our festivities as she asked our Almighty God—“Help us to work together for peace and harmony in our relationships. Grant us the grace to accept each other’s faults and weaknesses. Protect us from harsh words and hurt feelings.
Assist us to encourage one another’s strengths and abilities, Lead us to mutual understanding and support.” Giving can be as simple as encouraging others and living in harmony!
Giving is not and should not be dependent on one’s financial resources. In our own little way, we can give, and give with a gracious heart, either food as in the case of the pilgrims in America, time and money as in the case of my nephew Inno, talent as in the case of my son Jason, and even vital organs as in the case of Ezra Carpio. Let us all be good stewards of God’s resources that were sent our way.
A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.
For questions and comments, please e-mail me at sbmison@gmail.com.
students
brings insecurities; it is a phase when children go through several changes as they journey from childhood to maturity. At this age, being accepted by their peers is the key to their selfesteem. It is also a vulnerable time for students since they may experience several problems of adolescence, such as unhealthy behaviors, which may lead to significant problems later in life.
For both teachers and parents, the best way to deal with students’ problems at this age is to know about them and be ready to face them. Based on our experience, a motivated student can become academically proficient.
To fulfill our goals of developing successful students, stakeholders must work together, plan together in building a better school community. This is the best way to ensure the educational well-being of students.
The author is Master Teacher 1 and assistant principal designate at Ballesteros National High School, Junior High School Division.
heard with Russia being faulted for its war crimes. But is it just Russia that is at fault? One needs not look far and for peace to reign there is a need to appreciate the fact that there is a Russian narrative that should be taken into account in the ongoing Ukraine conflict.
According to the report from the NYT, “a series of videos that surfaced on social media last week has ignited a debate over whether Ukrainian forces committed war crimes or acted in self-defense as they tried to capture a group of Russian soldiers that were then killed.
“The videos show the grisly before-and-after scenes of the encounter earlier this month, in which at least 11 Russians, most of whom are seen lying on the ground, appear to have been shot dead at close range after one of their fellow fighters suddenly opened fire on Ukrainian soldiers standing nearby.” This article, when placed side by side with another report about a French doctor who was at the war front, shines a light on the need to look at the other side of the coin. Read it to appreciate.
“Adrian Boquet did not come to Ukraine as a military man. He was there in the status of a medical volunteer. He spent a total of 16 days in Ukraine. The Frenchman returned from there a different person. According to Andre, “I have seen the heinous crimes committed by the Azov battalion. I have seen the Russian military, which were treated very cruelly.”
“They were connected. It was in some kind of shed. Russian prisoners were brought there in minivans, three or four at a time. Every time these prisoners were thrown out of these vans, the “Azov” interrogated them, demanding to know which of them were officers. They shot everyone they pulled out with a Kalashnikov in the knees.
“The bound prisoners had no way to resist. I wouldn’t be able to say such things if I didn’t have a video. I do not know why they shoot Russians in the knees before any questions. And then, if someone answered that he was an officer, he was shot in the head.”
With the troubling images from the NYT and this story from one Andre Boquet, perhaps it is time for a hoped-for peace to finally settle in Ukraine. But for this to happen, the need to appreciate the two sides of a coin should be made first and foremost.
Monday, November 28, 2022 Opinion A11
www.news.businessmirror@gmail.com
BusinessMirror
With the troubling images from the NYT and this story from one Andre Boquet, perhaps it is time for a hoped-for peace to finally settle in Ukraine. But for this to happen, the need to appreciate the two sides of a coin should be made first and foremost.
Ortigas Land keen on IPO to support expansion plans
ect dubbed The Galleon.
Center, Circulo Verde and Ortigas Center.
Jalandoni said Ortigas Land’s growth this year has reached prepandemic levels. however, he declined to disclose actual figures.
Ortigas Land President and C e O Jose e m manuel Jalandoni said the company plans to launch an initial public offering (IPO) in 5 years.
“I want to prepare the company for an IPO so we need to be seen,” Jalandoni told reporters in an interview.
In 5 years, Jalandoni said Ortigas Land would have completed the development of its five estates that would enable the company to have
a stronger market position and to double its revenues.
By then, he said the company will be in “a stronger position” to attract a big number of potential investors.
“Whether it’s an IPO or a real estate investment trust (R eI T), we’ll decide,” he said.
As a sign of confidence in the property market, Ortigas Land said it plans to develop a sixth estate. The five Ortigas Land estates are Capital Commons, Ortigas east, Greenhills
Overall, he said all of their business segments are recording growth. “Next year, we will be opening our mall in Greenhills and office buildings which are composed of almost 30 to 40 percent of the expansion of Greenhills.”
Jalandoni said Ortigas Land, which is doing well in the urban areas, aims to double the revenue growth of all business segments in the next five years. “Again, I cannot reveal the revenues because we are not a publicly listed company.”
Meanwhile, Jalandoni said he is bullish on the company’s latest proj-
LGU to help resolve Calax ROW issues
By Lorenz S. Marasigan @lorenzmarasigan
The local government of Silang, Cavite has pitched in its support to address the right-of-way (ROW) issues that have delayed the completion of the Cavite-Laguna e x pressway (Calax) for two and a half years.
Silang Mayor Kevin Anarna said the local government unit (LGU) will meet with the Department of Public Works and h i ghways (DPW h ) and private landowners to “speed up the completion of the project that is crucial to its development and achievement of cityhood status by 2025.”
“We are very willing to help MPCALA [h o ldings Inc.] and the national government to fast-track the opening of the Calax Silang (Aguinaldo) Interchange. Right now, we are planning to set up a meeting with the owner of the land to discuss the right-of-way issues. Maybe, we can get a compromise agreement before the end of the year,” he said.
STOCK-MARKET OUTLOOK
Last week
Share prices moved up for the sixth straight last week on investor optimism on the prospects for the local currency and the expected slowdown in interest rate hikes.
The benchmark Philippine Stock exchange index gained 169.56 points to close at 6,606.94 points.
The index retreated on Monday, but it recovered and stayed in the green until the end of the week.
Volume of trade, however, was still depressed, with the average value for the week pegged at P5.54 billion. Foreign investors, who cornered 46 percent of the trades, were net buyers at P2.38 billion. all other sub-indices ended in the green. The broader all Shares index gained 55.81 points to close at 3,452.44 points, the Financials index rose 65.74 to 1,682.87, the Industrial index climbed 34.30 to 9,519.07, the holding Firms index surged 205.71 to 6,307.52, the Property index soared 74.92 to 2,920.81, the Services index increased 29.55 to 1,687.91 and the Mining and Oil index was up 4.83 to 9,850.06.
For the week, gainers marginally edged losers 115 to 107 and 19 shares were unchanged.
Top gainers were easycall Communications Philippines Inc., Now Corp., republic Glass Corp., Dizon Copper-Silver Mines Inc., Leisure and resorts World
Currently, the Silang (Aguinaldo) Interchange subsection of the Calax is at 64 percent completion rate. One critical portion of the expressway lacks a parcel of land roughly 450 meters long that prevents the company from opening another section of the Calax.
This has caused the company to commit to open the said segment by the first quarter of 2023, a quarter delayed from the recent December 2022 commitment.
The delay in completion of the Calax subsection, Anarna said, hampered the development of inner roads of the municipality.
“Once the Calax Silang (Aguinaldo) Interchange is completed, we can now start the construction of inner roads so that we will be accessible to local tourists and investors who want to invest in Silang,” Anarna said.
This fifth of the eight segments of the 45-kilometer expressway spans at 3.9-km, with 2x2 lane expressway from Silang e a st Interchange to Aguinaldo h i ghway in Cavite. Upon completion, this
will serve more motorists, including the 298,000 residents of Silang, given the reduced traffic situation.
Current average daily traffic is 33,000 from Mamplasan to Silang e a st interchange. This is expected to increase to 40,000 when the Silang (Aguinaldo) Interchange finally opens, thus, easing the usual bottleneck along the 41-km Aguinaldo h i ghway—the busiest main thoroughfare in Cavite—as well as Governor’s Drive and Sta. Rosa-Tagaytay Road.
To date, Calax’s operational segment spans 14.24-kilometer with interchanges at GreenfieldMamplasan, Laguna Technopark, Laguna Boulevard, Santa RosaTagaytay, and Silang e a st. Other interchanges of Calax, namely, Open Canal, Governor’s Drive, and Kawit, are targeted to be completed by 2023. Upon completion of the entire public-private partnership (PPP) project of the DPW h and M h I , it will connect to the Manila-Cavite e x pressway (Cavitex) in Kawit, Cavite.
The Galleon is Ortigas Land’s two-tower, mixed-use development strategically situated in the heart of the Ortigas Central Business District. The master planned project boasts of stylish, luxurious finishes and upscale amenities for residential, office, and retail spaces.
e q uipped with built-in smart home systems and high-speed fiber connectivity, the company said The Galleon is also set to “future proof” and enhance the living experiences of its prospective tenants.
“It’s evident that post-pandemic buyers want greener homes and this is a demand The Galleon can address as it is compliant with the country’s green building code and its office offering is pursuing LeeD accreditation.” Rizal Raoul Reyes
AirAsia to offer flights from Manila to Tokyo
BUDGeT carrier AirAsia Philippines is beefing up its route network with the addition of Tokyo as its 10th active international destination and the transfer of some of its flights to Terminal 3 of the Ninoy Aquino International Airport (Naia).
The airline will start flying between Manila and Tokyo (Narita) on February 1, 2023, complementing its latest Japanese destination, Osaka, which will be launched on December 6.
“Our goal is to empower more Filipinos to travel and immerse in the diverse cultures of our country’s regions and our Asean neighbors. We are confident that Osaka and Tokyo have a high potential of being among our top-preferred international destinations. By adding our Manila-Tokyo route, we are well positioned to achieve full recovery for international operations early next year,” AirAsia Philippine CeO Ricky Isla said.
With the addition of Tokyo, AirAsia Philippines will have an international route network composed of 10 destinations, namely: Kuala Lumpur, Kota
Kinabalu, Bangkok, Singapore, Taipei, Osaka, Incheon, hong Kong and Bali.
In a related development, the carrier said its flights from Manila to Cebu and Caticlan are being transferred to Naia Terminal 3 due to the growing holiday-driven traffic.
The transfer, which will start on December 16, is expected to significantly ease the queues and passenger load at the much-smaller Naia Terminal 4 where the airline operates the remainder of its domestic flights.
A total of 109 combined weekly flights will be transferred to Naia Terminal 3, set to be operated alongside all the international flights of AirAsia Philippines. “The exponential growth in the holiday demand this year is expected, especially given the fact that travel restrictions today are way more relaxed compared to the previous years. We are optimistic that by moving our busiest domestic flights to Naia Terminal 3, we get to alleviate the travel woes of our kababayans in aspects such as queuing, waiting and boarding,” Isla said. Lorenz S. Marasigan
Corp. and City and Land Developers Inc. Top losers, meanwhile, were abaCore Capital holdings Inc., Ferronoux holdings Inc., Filipino Fund Inc., Manila Bulletin Publishing Corp., allhome Corp. and Kepwealth Property Phils. Inc. this week
Share prices may take a breather this week as the market is ripe for profittaking after six weeks of ascent.
Broker 2Trade a s ia said this week will be big for United States market data, which could rouse another round of volatility before yearend. These include the labor and manufacturing data that should impact the US Federal r e serve’s policy meeting on December 14.
“Growth stories have become slightly more compelling in this era, where expectations are low in light of high interest rates plus slower macro growth,” it said.
Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., meanwhile, said chart-wise, the local market has been able to maintain its position above the 6,400 level and has gotten past its 200-day exponential moving average last week.
however, the market has already been rallying for six straight weeks. With this, we may see episodes of profit-taking moving forward,” he said “The main index may test its resis-
tance at the 6,600 level. Its support is seen at 6,400 points. Investors may take cues from the upcoming bank lending and S&P Global Philippines’ Manufacturing PMI data for clues on the local economy.”
stock picks
BrOKer regina Capital Development Corp. placed a hold recommendation on the stock of Bank of the Philippine Islands (BPI) as market participants looked very undecided whether they should sell BPI while it is still on its strength or buy on low intraday areas.
“The stock ended with a bullish note, and we could assume that the stock still has demand despite climbing for months,” it said.
BPI shares were last traded at P102.10 apiece.
Meanwhile, it gave the same advice on the stock of ayala Corp. (aC) as it is seeing a good breakout in the next sessions.
aC just breached its resistance at P609, and from the looks of it, we can potentially see another upswing for this stock in the following days. Volume thickened as demand surged, which is a good sign for its trend,” it said.
all in all, aC may further move upwards and we suggest holders to hold their position for a little bit longer,” it said.
ayala’s shares closed Friday at P695 apiece. VG Cabuag
BusinessMirror Editor: Jennifer A. Ng Companies B1 Monday, November 28, 2022
ProPerty developer or tigas Land said it is planning to tap the capital markets to fund its expansion.
Banking&Finance
Perspectives The Future of Large Commercial Insurance
TO survive and thrive in this new environment, commercial insurers shouldn’t stand still. They need to evolve and build new differentiated capabilities that connect across the organization. Technology will be critical, but digital transformation goes well beyond technology.
Insurers need a clear, client-led business design of their end-to-end process that should be driven by the deep client, broker and market insights. It should be underpinned by a digitally enabled technology architecture and empowered workforce. In our view, it is only by taking this “connected” approach that insurers can achieve true value from their digital transformations.
Signals of change
THE traditional commercial insurance business model continues to function. The market remains buoyant. Profits are rising. Yet there are strong “Signals of change” swirling around the sector. And while commercial insurance businesses always face new challenges, from both internal and external factors, these “Signals of change” suggest the commercial insurance sector now stands on the cusp of a radical transformation. What are these “Signals of change”?
1. Client and broker expectations. Clients and brokers expect a cutting-edge experience— every bit as sophisticated and customized as they experience in their personal lives. Meanwhile, the rise of ‘insurtechs’ in the commercial space is starting to add competitive pressures focused on client pain points. Collectively, this is forcing commercial insurers to radically rethink their operating models, business models and channels. In our view, the winners will be those who secure the trust of their clients in the new risk landscape and can deliver innovative, tailored and commercial solutions and experiences
2. E conomic uncertainty. Uncertainty abounds. The longterm shape of the post-Covid-19 recovery remains uncertain. The crisis in Ukraine has unleashed an unprecedented range of business impacts and political instability. Inflation is on the rise. Governments are rethinking interest rates. And other risks are emerging—supply chain disruption, protectionism and regulation, for example. We believe that navigating this uncertainty will require commercial insurers to be able to dynamically adjust their strategy. For multinational commercial insurers, new digital capabilities and solutions may offer some muchneeded flexibility and agility as organizations strive to respond to this complex and interconnected web of challenges. They will certainly be needed to help anticipate and respond swiftly to clients’ needs.
3. R egulatory and legal deglobalization. The world order is changing and that has catalyzed a shift towards more assertive national regulation in some markets. Combined with ongoing concerns about business and supply chain resiliency, many commercial insurance players are starting to find the regulatory landscape more fractured and complicated than ever before. We expect that getting ahead will require a more holistic view of the changing regulatory landscape. Managing this increasing regulatory complexity is not likely to be easy for commercial insurers that often deal with multinational clients and risks. In our view, it will require them to establish trust with multiple regulators, understand and anticipate future
changes in regulators’ priority areas, embed values into their decision-making and create a culture where employees are rewarded for doing the right thing.
4. Technology evolution. New technologies are permeating the insurance industry, providing commercial insurers with a range of new opportunities to help meet expectations, drive efficiency and encourage innovation. Industrial automation and robotics are providing new opportunities for insurers to streamline processes, as well as gather and analyze data. Cloud-driven technologies, artificial intelligence (AI) and machine learning are helping to unlock leaner, more automated underwriting and claims settlement processes, supported by data-driven decision engines. To help ensure they are maximizing their technology investments, we anticipate commercial insurers will need to put digital and data capabilities at the core of their operating and business models to drive decisions across the business.
5. E nvironmental, social and governance activism. Environmental, social and governance (ESG) factors aren’t just impacting the risk landscape for commercial insurers. They are also influencing the scrutiny insurers face from key stakeholders, including regulators, investors, employees, clients and the public. While ESG may sometimes feel like a distraction from the core business, the reality is that it is critical both to stakeholders and future growth. By consciously investing in sustainable options, insurers should be able to create real and tangible value—not only by meeting customer demand for transparency and sustainability, but also by building innovative propositions and resilient business models. In our view, commercial insurers will need to embrace the shift towards ESG prioritization, both to differentiate and as an opportunity to innovate.
The ability to think “outsidein” is key to building a customercentric business. Ensure you know and act on what your consumers want, need and value. Keep continually looking up and outside of the organization and industry to help ensure alignment with the best consumer experiences in dayto-day life.
Build resilience TAKE on today’s challenges with resilience and determination and be prepared to expect the unexpected, fail fast and learn along the way. By developing a connected enterprise architecture, you will find your ability to change course at speed can be significantly enhanced.
Make use of new technologies
CONTINUALLY look at what new technologies are becoming available that could help you serve consumers better or connect your business more seamlessly. Experiment with the opportunities available through the cloud, machine learning and advances in data science.
The excerpt was taken from the KPMG Thought Leadership publication: https://home. kpmg/xx/en/home/insights/2022/07/the-future-of-large-commercial-insurance.html.
KPMG Intl. Ltd. is a private English company limited by guarantee and does not provide services to clients. For more information on KPMG in the Philippines, you may send a message through ph-kpmgmla@kpmg.com or visit www. home.kpmg/ph.
This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent KPMG Intl. Ltd. or KPMG in the Philippines.
NG subsidies to GOCCs, GFIs inched up 2.09% in Jan-Oct
By Cai U. Ordinario @caiordinario
SUBSIDIES extended by the national government (NG) to government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) inched up 2.09 percent in the January to October period this year, according to the Bureau of the Treasury (BTr).
Data from the BTr showed total government subsidies increased to P154.235 billion in January to October 2022 from P151.081 billion in
the same period in 2021. The bulk of the subsidies extended in the 10-month period accounted for subsidies to “other government cor-
porations” at P88.17 billion followed by “major non-financial government corporations” at P65.751 billion.
GFIs, particularly the National Home Mortgage Finance Corp., received a total of P314 million during the period. The only subsidies it received were in June worth P205 million and P109 million in August.
In terms of agency, data showed the Philippine Health Insurance Corp. (PhilHealth) received the largest sum at P64.088 billion in the January-to-October period.
This was followed by the National Irrigation Administration (NIA) at P36.365 billion and the National Housing Authority (NHA) at P13.658 billion.
The subsidies extended by the NG already account for 83.48 percent or P30.532-billion short of the subsi-
dies extended in the whole of 2021. The government extended a total of P184.767 billion in 2021.
Meanwhile, subsidies extended by the government grew 667.979 percent to P39.981 billion in October 2022 from P5.206 billion in October 2021.
The data also showed “other government corporations” cornered P21.838 billion of the total subsidies for October while “major non-financial government corporations” received P18.143 billion. GFIs did not receive any subsidy in October.
The data showed that for October, PhilHealth also received the largest sum at P19.164 billion, followed by NIA at P6.949 billion; NHA, P4.717 billion; and, the National Power Corp. at P4.026 billion.
BSP’s move to tweak card deal ‘legally infirm’–DOJ
By Joel R. San Juan @jrsanjuan1573
THE Department of Justice (DOJ) has advised the Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla that proposed amendments to its memorandum of agreement (MOA) with the Philippine Statistics Authority and its contract with AllCard Inc. for the personalization of the Philippine Identification (PhilID) card are “legally infirm.”
In a 5-page legal opinion made public last November 9, Justice Secretary Jesus Crispin C. Remulla did not give weight to BSP’s position that the proposed amendment is not substantial or material and, thus, may be allowed under the Implementing Rules and Regulations (IRR) of Republic Act (RA) 9184 (Contract Implementation Guidelines for the Procurement of Goods, Supplies and Materials).
The BSP sought the DOJ’s legal opinion on whether the modification of the agreement’s technical specifications to indicate monochrome personalization and amendment of the terms of reference of the card personalization contract with AllCard may be legally undertaken.
The BSP’s letter to the DOJ stemmed from the recommendation of the National Economic and Development Authority to shift from the current digital colored printing (using drop-on-demand, or “DOD,” technology) to monochrome laser engraving of the PhilID’s front-facing photograph to enhance photo quality. The Neda also sought to replace the DOD printers with laser engraving printers to increase the capacity of card personalization.
Council resolution
THE Neda issued its recommendations by Neda to achieve the government target of 50 million PhilIDs issued by the end of the year.
Complying with the recommendation of the Neda, the PhilSys Policy and Coordination Council (PSPCC) issued a resolution approving the recommendation to shift from digital-colored printing to monochromelaser engraving for the PhilID card at no additional cost to the government.
The council also approved the signing of the amended technical specifications indicating monochrome printing, which shall form part of the MOA.
Likewise, the PSPCC also allowed the BSP to amend its con-
tract with AllCard for the replacement of the DOD machines with laser engraving machines and start the full implementation not later than October 1, 2022. In light of PSPCC’s resolution, the BSP sought the DOJ’s legal opinion on the said recommendations.
Responding to BSP’s letter-request, the DOJ said: “We are of the opinion that the proposed actions are legally infirm.”
It noted that RA 9184 provides that an amendment to order may be issued in “emergency cases or during fortuitous events.”
“In the case at hand, it may be inferred that the proposed changes in technical specifications and terms of reference are to ensure that the set [of] 50 million PhilIDs issued at the end of 2022 are achieved,” the DOJ said.
TOR proviso “HOWEVER, it must be stressed that except in emergency cases of fortuitous events and in cases where necessary for the protection of the goods, it is our opinion that the provisions of the guidelines pertinent to amendment to order is not applicable as there is no emergency of fortuitous event existing that would warrant
the changes,” the DOJ said. Instead, the DOJ advised BSP that it may opt to utilize item XIV (Reservation Clause) of the terms of reference (TOR). This clause states that the “BSP reserves the right to require the contractor to provide additional equipment, at no additional cost to [the] BSP, in case target card personalization per day needs to be increased.”
The DOJ said applying the said provision would not require amendment or modification in the contract.
In can be recalled that on June 10, 2022, the PSA and BSP entered into a MOA for the production of 116 million pieces of cards for the period of four years to be used for the PhilIDs. The provision, management and maintenance of the personalization equipment will interface with the PSA System.
The PSA, for its part, will manage the PhilSys database and ensure the availability, confidentiality, integrity, accuracy and readiness of the data that would be personalized in the BSP-produced and pre-personalized cards.
The production and delivery of the cards were to be done from 2021 to 2023, with a total budget of P3.48 billion.
Ease of Paying Taxes bill seen passed before Jan. 1
By Jovee Marie N. dela Cruz @joveemarie
THE chairman of the House Committee on Ways and Means has assured the passage of the Ease of Paying Taxes bill—expected to boost the country’s exports and trade—before New Year’s Day.
Albay Rep. Joey Sarte Salceda made this assurance in a message to 6,000 attendees of the 77th Annual National Convention of the Philippine Institute of Certified Public Accountants (Picpa) in Cebu City.
Salceda said he is optimistic that the bill, which is pending in the 19th Congress, will be enacted into law before January 1, 2023, when most of the bill’s important provisions “could be implemented with the best possible timing.”
“[The] Train [Tax Reform for Acceleration and Inclusion law or Republic Act 10963] is cutting personal income taxes across the board by around 5 percent by January 1, 2023. So, we hope to couple that with a few other provisions,” the lawmaker was quoted in a statement as saying.
Among the provisions Salceda hopes to have implemented by the start of next year is the indexation of the VAT-exempt sales threshold to the annual consumer price index. The threshold is currently at P3 million.
“The threshold has not been updated for several years already and
no longer responds to the needs of businesses,” said the solon. “The threshold for what is considered a ‘small corporation’ in the tax code is P10 million in sales. It doesn’t make sense that the VAT [value-added tax] threshold stagnates.”
Unified requirements
SALCEDA also seeks to unify documentary requirements for VAT into the sales invoice, as opposed to the current system of requiring official receipts for goods and sales invoices for services.
The lawmaker doing so would “reduce the documentary discrepancies and make electronic invoicing easier.”
“Easier invoicing means faster VAT refunds; [this] makes our export sector more competitive.”
Under the current system, indirect exporters are liable to VAT but are expected to pass this on to direct exporters who, in turn, can recoup their VAT costs through the 90-day VAT refund system.
This, Salceda said, was supposed to address VAT leakages, “but could actually harm export competitiveness and actually reduce the volume of trade and downward linkages, and therefore, actually lead to lower tax collections.”
The EOPT bill proposes to amend the National Internal Revenue Code as amended by introducing administrative reforms that will simplify tax compliance and strengthen tax-
payer rights.
The proposal gives power to the Bureau of Internal Revenue to create taxpayer classifications relative to the following: capacity to comply with tax rules and regulations; amount and type of tax paid; gross sales and/or receipts as well as inflation; volume of business, wage and employment levels; and similar economic and financial factors.
Simplified rules
THE EOPT bill also calls for the implementation of simplified tax rules and regulations for ease of compliance.
To simplify VAT administration, the bill seeks to eliminate the distinction between the documentation and basis of sales as against services subject to VAT. At present, sales subject to VAT should be evidenced by invoices while services subject to VAT should be covered by official receipts. The bill makes the basis and documentation uniform to just be VAT invoices, according to Salceda.
The bill also proposes to add a provision that the P3-million VAT threshold—increased by the Train Law—may be adjusted to its present value not later than January 31, 2021 and every three years after based on the consumer price index published by the Philippine Statistics Authority.
The EOPT bill also proposes to allow the payment of the taxes before they are due. This impliedly al-
lows payment of tax not necessarily simultaneously with the filing of the return.
Salceda also says that the EOPT is aligned with Department of Finance’s priority of digitalization of the taxpaying process.
To allow full digitalization of the taxpayer experience, the bill proposes to delete various provisions in the Tax Code that require taxes to be paid in the BIR offices or banks within the jurisdiction of the taxpayer’s legal residence, principal place of business or principal office, thereby giving taxpayers payment flexibility.
Bill of rights
The EOPT bill also seeks to introduce provisions on taxpayers’ rights in the Tax Code and create a taxpayers’ advocate office.
Hence, Salceda enjoined the Picpa to help him “craft a better Taxpayer Bill of Rights.”
“You would know best how to operationalize the ‘Bill of Rights’ and to identify which processes can be improved. As tax practitioners, your suggestions are most welcome and requested,” he added.
Salceda also said he will invite Picpa representatives to hearings at Congress on concerns with the 90day VAT refund system and the imposition of VAT on indirect exporters.
He said there is already a House resolution on inviting Picpa representatives and that “the House will act on the resolution.”
BusinessMirror
• Monday, November 28, 2022 B3 www.news.businessmirror@gmail.com
Editor: Dennis D. Estopace
Banking&Finance
Perspectives The Future of Large Commercial Insurance
TO survive and thrive in this new environment, commercial insurers shouldn’t stand still. They need to evolve and build new differentiated capabilities that connect across the organization. Technology will be critical, but digital transformation goes well beyond technology.
Insurers need a clear, client-led business design of their end-to-end process that should be driven by the deep client, broker and market insights. It should be underpinned by a digitally enabled technology architecture and empowered workforce. In our view, it is only by taking this “connected” approach that insurers can achieve true value from their digital transformations.
Signals of change
THE traditional commercial insurance business model continues to function. The market remains buoyant. Profits are rising. Yet there are strong “Signals of change” swirling around the sector. And while commercial insurance businesses always face new challenges, from both internal and external factors, these “Signals of change” suggest the commercial insurance sector now stands on the cusp of a radical transformation. What are these “Signals of change”?
1. Client and broker expectations. Clients and brokers expect a cutting-edge experience— every bit as sophisticated and customized as they experience in their personal lives. Meanwhile, the rise of ‘insurtechs’ in the commercial space is starting to add competitive pressures focused on client pain points. Collectively, this is forcing commercial insurers to radically rethink their operating models, business models and channels. In our view, the winners will be those who secure the trust of their clients in the new risk landscape and can deliver innovative, tailored and commercial solutions and experiences
2. E conomic uncertainty. Uncertainty abounds. The longterm shape of the post-Covid-19 recovery remains uncertain. The crisis in Ukraine has unleashed an unprecedented range of business impacts and political instability. Inflation is on the rise. Governments are rethinking interest rates. And other risks are emerging—supply chain disruption, protectionism and regulation, for example. We believe that navigating this uncertainty will require commercial insurers to be able to dynamically adjust their strategy. For multinational commercial insurers, new digital capabilities and solutions may offer some muchneeded flexibility and agility as organizations strive to respond to this complex and interconnected web of challenges. They will certainly be needed to help anticipate and respond swiftly to clients’ needs.
3. R egulatory and legal deglobalization. The world order is changing and that has catalyzed a shift towards more assertive national regulation in some markets. Combined with ongoing concerns about business and supply chain resiliency, many commercial insurance players are starting to find the regulatory landscape more fractured and complicated than ever before. We expect that getting ahead will require a more holistic view of the changing regulatory landscape. Managing this increasing regulatory complexity is not likely to be easy for commercial insurers that often deal with multinational clients and risks. In our view, it will require them to establish trust with multiple regulators, understand and anticipate future
changes in regulators’ priority areas, embed values into their decision-making and create a culture where employees are rewarded for doing the right thing.
4. Technology evolution. New technologies are permeating the insurance industry, providing commercial insurers with a range of new opportunities to help meet expectations, drive efficiency and encourage innovation. Industrial automation and robotics are providing new opportunities for insurers to streamline processes, as well as gather and analyze data. Cloud-driven technologies, artificial intelligence (AI) and machine learning are helping to unlock leaner, more automated underwriting and claims settlement processes, supported by data-driven decision engines. To help ensure they are maximizing their technology investments, we anticipate commercial insurers will need to put digital and data capabilities at the core of their operating and business models to drive decisions across the business.
5. E nvironmental, social and governance activism. Environmental, social and governance (ESG) factors aren’t just impacting the risk landscape for commercial insurers. They are also influencing the scrutiny insurers face from key stakeholders, including regulators, investors, employees, clients and the public. While ESG may sometimes feel like a distraction from the core business, the reality is that it is critical both to stakeholders and future growth. By consciously investing in sustainable options, insurers should be able to create real and tangible value—not only by meeting customer demand for transparency and sustainability, but also by building innovative propositions and resilient business models. In our view, commercial insurers will need to embrace the shift towards ESG prioritization, both to differentiate and as an opportunity to innovate.
The ability to think “outsidein” is key to building a customercentric business. Ensure you know and act on what your consumers want, need and value. Keep continually looking up and outside of the organization and industry to help ensure alignment with the best consumer experiences in dayto-day life.
Build resilience TAKE on today’s challenges with resilience and determination and be prepared to expect the unexpected, fail fast and learn along the way. By developing a connected enterprise architecture, you will find your ability to change course at speed can be significantly enhanced.
Make use of new technologies
CONTINUALLY look at what new technologies are becoming available that could help you serve consumers better or connect your business more seamlessly. Experiment with the opportunities available through the cloud, machine learning and advances in data science.
The excerpt was taken from the KPMG Thought Leadership publication: https://home. kpmg/xx/en/home/insights/2022/07/the-future-of-large-commercial-insurance.html.
KPMG Intl. Ltd. is a private English company limited by guarantee and does not provide services to clients. For more information on KPMG in the Philippines, you may send a message through ph-kpmgmla@kpmg.com or visit www. home.kpmg/ph.
This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent KPMG Intl. Ltd. or KPMG in the Philippines.
NG subsidies to GOCCs, GFIs inched up 2.09% in Jan-Oct
By Cai U. Ordinario @caiordinario
SUBSIDIES extended by the national government (NG) to government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) inched up 2.09 percent in the January to October period this year, according to the Bureau of the Treasury (BTr).
Data from the BTr showed total government subsidies increased to P154.235 billion in January to October 2022 from P151.081 billion in
the same period in 2021. The bulk of the subsidies extended in the 10-month period accounted for subsidies to “other government cor-
porations” at P88.17 billion followed by “major non-financial government corporations” at P65.751 billion.
GFIs, particularly the National Home Mortgage Finance Corp., received a total of P314 million during the period. The only subsidies it received were in June worth P205 million and P109 million in August.
In terms of agency, data showed the Philippine Health Insurance Corp. (PhilHealth) received the largest sum at P64.088 billion in the January-to-October period.
This was followed by the National Irrigation Administration (NIA) at P36.365 billion and the National Housing Authority (NHA) at P13.658 billion.
The subsidies extended by the NG already account for 83.48 percent or P30.532-billion short of the subsi-
dies extended in the whole of 2021. The government extended a total of P184.767 billion in 2021.
Meanwhile, subsidies extended by the government grew 667.979 percent to P39.981 billion in October 2022 from P5.206 billion in October 2021.
The data also showed “other government corporations” cornered P21.838 billion of the total subsidies for October while “major non-financial government corporations” received P18.143 billion. GFIs did not receive any subsidy in October.
The data showed that for October, PhilHealth also received the largest sum at P19.164 billion, followed by NIA at P6.949 billion; NHA, P4.717 billion; and, the National Power Corp. at P4.026 billion.
BSP’s move to tweak card deal ‘legally infirm’–DOJ
By Joel R. San Juan @jrsanjuan1573
THE Department of Justice (DOJ) has advised the Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla that proposed amendments to its memorandum of agreement (MOA) with the Philippine Statistics Authority and its contract with AllCard Inc. for the personalization of the Philippine Identification (PhilID) card are “legally infirm.”
In a 5-page legal opinion made public last November 9, Justice Secretary Jesus Crispin C. Remulla did not give weight to BSP’s position that the proposed amendment is not substantial or material and, thus, may be allowed under the Implementing Rules and Regulations (IRR) of Republic Act (RA) 9184 (Contract Implementation Guidelines for the Procurement of Goods, Supplies and Materials).
The BSP sought the DOJ’s legal opinion on whether the modification of the agreement’s technical specifications to indicate monochrome personalization and amendment of the terms of reference of the card personalization contract with AllCard may be legally undertaken.
The BSP’s letter to the DOJ stemmed from the recommendation of the National Economic and Development Authority to shift from the current digital colored printing (using drop-on-demand, or “DOD,” technology) to monochrome laser engraving of the PhilID’s front-facing photograph to enhance photo quality. The Neda also sought to replace the DOD printers with laser engraving printers to increase the capacity of card personalization.
Council resolution
THE Neda issued its recommendations by Neda to achieve the government target of 50 million PhilIDs issued by the end of the year.
Complying with the recommendation of the Neda, the PhilSys Policy and Coordination Council (PSPCC) issued a resolution approving the recommendation to shift from digital-colored printing to monochromelaser engraving for the PhilID card at no additional cost to the government.
The council also approved the signing of the amended technical specifications indicating monochrome printing, which shall form part of the MOA.
Likewise, the PSPCC also allowed the BSP to amend its con-
tract with AllCard for the replacement of the DOD machines with laser engraving machines and start the full implementation not later than October 1, 2022. In light of PSPCC’s resolution, the BSP sought the DOJ’s legal opinion on the said recommendations.
Responding to BSP’s letter-request, the DOJ said: “We are of the opinion that the proposed actions are legally infirm.”
It noted that RA 9184 provides that an amendment to order may be issued in “emergency cases or during fortuitous events.”
“In the case at hand, it may be inferred that the proposed changes in technical specifications and terms of reference are to ensure that the set [of] 50 million PhilIDs issued at the end of 2022 are achieved,” the DOJ said.
TOR proviso “HOWEVER, it must be stressed that except in emergency cases of fortuitous events and in cases where necessary for the protection of the goods, it is our opinion that the provisions of the guidelines pertinent to amendment to order is not applicable as there is no emergency of fortuitous event existing that would warrant
the changes,” the DOJ said. Instead, the DOJ advised BSP that it may opt to utilize item XIV (Reservation Clause) of the terms of reference (TOR). This clause states that the “BSP reserves the right to require the contractor to provide additional equipment, at no additional cost to [the] BSP, in case target card personalization per day needs to be increased.”
The DOJ said applying the said provision would not require amendment or modification in the contract.
In can be recalled that on June 10, 2022, the PSA and BSP entered into a MOA for the production of 116 million pieces of cards for the period of four years to be used for the PhilIDs. The provision, management and maintenance of the personalization equipment will interface with the PSA System.
The PSA, for its part, will manage the PhilSys database and ensure the availability, confidentiality, integrity, accuracy and readiness of the data that would be personalized in the BSP-produced and pre-personalized cards.
The production and delivery of the cards were to be done from 2021 to 2023, with a total budget of P3.48 billion.
Ease of Paying Taxes bill seen passed before Jan. 1
By Jovee Marie N. dela Cruz @joveemarie
THE chairman of the House Committee on Ways and Means has assured the passage of the Ease of Paying Taxes bill—expected to boost the country’s exports and trade—before New Year’s Day.
Albay Rep. Joey Sarte Salceda made this assurance in a message to 6,000 attendees of the 77th Annual National Convention of the Philippine Institute of Certified Public Accountants (Picpa) in Cebu City.
Salceda said he is optimistic that the bill, which is pending in the 19th Congress, will be enacted into law before January 1, 2023, when most of the bill’s important provisions “could be implemented with the best possible timing.”
“[The] Train [Tax Reform for Acceleration and Inclusion law or Republic Act 10963] is cutting personal income taxes across the board by around 5 percent by January 1, 2023. So, we hope to couple that with a few other provisions,” the lawmaker was quoted in a statement as saying.
Among the provisions Salceda hopes to have implemented by the start of next year is the indexation of the VAT-exempt sales threshold to the annual consumer price index. The threshold is currently at P3 million.
“The threshold has not been updated for several years already and
no longer responds to the needs of businesses,” said the solon. “The threshold for what is considered a ‘small corporation’ in the tax code is P10 million in sales. It doesn’t make sense that the VAT [value-added tax] threshold stagnates.”
Unified requirements
SALCEDA also seeks to unify documentary requirements for VAT into the sales invoice, as opposed to the current system of requiring official receipts for goods and sales invoices for services.
The lawmaker doing so would “reduce the documentary discrepancies and make electronic invoicing easier.”
“Easier invoicing means faster VAT refunds; [this] makes our export sector more competitive.”
Under the current system, indirect exporters are liable to VAT but are expected to pass this on to direct exporters who, in turn, can recoup their VAT costs through the 90-day VAT refund system.
This, Salceda said, was supposed to address VAT leakages, “but could actually harm export competitiveness and actually reduce the volume of trade and downward linkages, and therefore, actually lead to lower tax collections.”
The EOPT bill proposes to amend the National Internal Revenue Code as amended by introducing administrative reforms that will simplify tax compliance and strengthen tax-
payer rights.
The proposal gives power to the Bureau of Internal Revenue to create taxpayer classifications relative to the following: capacity to comply with tax rules and regulations; amount and type of tax paid; gross sales and/or receipts as well as inflation; volume of business, wage and employment levels; and similar economic and financial factors.
Simplified rules
THE EOPT bill also calls for the implementation of simplified tax rules and regulations for ease of compliance.
To simplify VAT administration, the bill seeks to eliminate the distinction between the documentation and basis of sales as against services subject to VAT. At present, sales subject to VAT should be evidenced by invoices while services subject to VAT should be covered by official receipts. The bill makes the basis and documentation uniform to just be VAT invoices, according to Salceda.
The bill also proposes to add a provision that the P3-million VAT threshold—increased by the Train Law—may be adjusted to its present value not later than January 31, 2021 and every three years after based on the consumer price index published by the Philippine Statistics Authority.
The EOPT bill also proposes to allow the payment of the taxes before they are due. This impliedly al-
lows payment of tax not necessarily simultaneously with the filing of the return.
Salceda also says that the EOPT is aligned with Department of Finance’s priority of digitalization of the taxpaying process.
To allow full digitalization of the taxpayer experience, the bill proposes to delete various provisions in the Tax Code that require taxes to be paid in the BIR offices or banks within the jurisdiction of the taxpayer’s legal residence, principal place of business or principal office, thereby giving taxpayers payment flexibility.
Bill of rights
The EOPT bill also seeks to introduce provisions on taxpayers’ rights in the Tax Code and create a taxpayers’ advocate office.
Hence, Salceda enjoined the Picpa to help him “craft a better Taxpayer Bill of Rights.”
“You would know best how to operationalize the ‘Bill of Rights’ and to identify which processes can be improved. As tax practitioners, your suggestions are most welcome and requested,” he added.
Salceda also said he will invite Picpa representatives to hearings at Congress on concerns with the 90day VAT refund system and the imposition of VAT on indirect exporters.
He said there is already a House resolution on inviting Picpa representatives and that “the House will act on the resolution.”
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• Monday, November 28, 2022 B3 www.news.businessmirror@gmail.com
Editor: Dennis D. Estopace
Explainer
What’s the effect of Russian oil pRice cap, ban?
By David Mchugh The Associated Press
FRANKFURT, Germany—
Western governments are aiming to cap the price of Russia’s oil exports in an attempt to limit the fossil fuel earnings that support Moscow’s budget, its military and the invasion of Ukraine.
The cap is set to take effect on December 5, the same day the European Union will impose a boycott on most Russian oil—its crude that is shipped by sea. The EU was still negotiating what the price ceiling should be.
The twin measures could have an uncertain effect on the price of oil as worries over lost supply through the boycott compete with fears about lower demand from a slowing global economy.
Here are basic facts about the price cap, the EU embargo and what
they could mean for consumers and the global economy: w h at is the price cap and how would it work?
US Treasury Secretary Janet Yel len has proposed the cap with other Group of 7 allies as a way to limit Russia's earnings while keeping Russian oil flowing to the global economy. The aim is to hurt Moscow's finances while avoiding a sharp oil price spike if Russia's oil is suddenly taken off the global market.
Insurance companies and other firms needed to ship oil would only be able to deal with Russian crude if the oil is priced at or be low the cap. Most of the insurers are located in the EU or the United Kingdom and could be required to participate in the cap. Without insurance, tanker owners may be reluctant to take on Russian oil and face obstacles in delivering it.
How would oil keep flowing to the global economy?
Un I v E RS al enforcement of the insurance ban, imposed by the EU and UK in earlier rounds of sanc tions, could take so much Russian crude off the market that oil prices would spike, Western economies would suffer, and Russia would see increased earnings from what ever oil it can ship in defiance of the embargo.
Russia, the world's no. 2 oil pro ducer, has already rerouted much of its supply to India, China and other a s ian countries at discount ed prices after Western customers shunned it even before the EU ban.
One purpose of the cap is to provide a legal framework “to al
low the flow of Russian oil to con tinue and to reduce the windfall revenue for Russia at the same time,” said Claudio Galimberti, a senior vice president of analysis at Rystad Energy.
“It is essential for the global crude markets that Russian oil still finds markets to be sold, after the EU ban is operative,” he added. “In the absence of that, global oil prices would skyrocket.”
w h at effect would different cap levels have?
a C a p of between $65 and $70 per barrel could let Russia keep selling oil and while keeping its earnings to current levels. Russian oil is trading at around $63 per barrel, a considerable discount to inter national benchmark Brent.
a lower cap—at around $50 per barrel—would make it diffi cult for Russia to balance its state budget, with Moscow believed to require around $60 to $70 per bar rel to do that, its so-called “fiscal break-even.”
However, that $50 cap would still be above Russia's cost of pro duction of between $30 and $40
per barrel, giving Moscow an in centive to keep selling oil simply to avoid having to cap wells that can be hard to restart.
w h at if Russia and other countries won’t go along?
R USSI a h as said it will not ob serve a cap and will halt deliver ies to countries that do. a lower cap of around $50 could be more likely to provoke that response, or Russia could halt the last of its remaining natural gas supplies to Europe.
China and India might not go along with the cap, while China could form its own insurance com panies to replace those barred by US, UK and Europe.
Galimberti says China and India are already enjoying dis counted oil and may not want to alienate Russia.
“China and India get Russia's crude at a huge discount to Brent, therefore, they don't necessar ily need a price cap to continue to enjoy a discount,” he said. “By complying with the cap set by the G-7, they risk alienating Russia. a s a r esult, we do believe that the
compliance with the price cap would not be high.”
Russia could also turn to schemes such as transferring oil from ship to ship to disguise its origins and mixing its oil with other types to skirt the ban. So it remains to be seen what effect the cap would have.
w h at about the eU e mbargo? T HE b iggest impact from the EU embargo may come not on De cember 5, as Europe finds new suppliers and Russian barrels are rerouted, but on February 5, when Europe's additional ban on refin ery products made from oil—such as diesel fuel—come into effect.
Europe will have to turn to al ternative supplies from the US, Middle East and India. “There is going to be a shortfall, and this will result in very high prices,” Galimberti said.
Europe still has many cars that run on diesel. The fuel also is used for truck transport to get a huge range of goods to consumers and to run agricultural machinery—so those higher costs will be spread throughout the economy.
Germany, Poland take over natural gas firms tied to Russia
BERLIN—Germany and Poland an nounced separate takeovers of natu ral gas companies that had links to Russian energy giant Gazprom on Monday, saying the moves were aimed at securing supply as Europe struggles with an energy crisis tied to the war in Ukraine.
Germany said it is nationalizing the former German subsidiary of Gazprom months after it was put under the control of a government agency, its latest nation alization in the energy industry since Rus sia's invasion.
The government cited the debt load of the company, which has been renamed Securing Energy for Europe, and said it was making the move to head off the danger of bankruptcy and ensure that it keeps running.
The Economy Ministry said that SEFE, which is involved in the trade, transport and storage of natural gas in Germany and neighboring countries, is “a key company for Germany’s energy supply.”
Poland’s government, meanwhile, said it
has taken “temporary compulsory manage ment” of Gazprom’s share in the Yamal gas pipeline system in Polish territory. It said the takeover was needed for the country’s energy security and to ensure smooth deci sion-making in a company vital for gas flows.
As European countries supported Ukraine, Russia slashed supplies of natural gas used to heat homes, generate electricity and power industry, creating an energy cri sis that is fueling inflation and forcing some factories to shut down as prices have risen.
Germany, a major importer of Russian gas before the war, hasn’t received any gas from Russia since the end of August, while Poland was cut off in April.
Polish Minister for Development and Technology Waldemar Buda said the man agement takeover was necessary to ensure the proper functioning of EuRoPol Gaz pipe line company, owned by PAO Gazprom and Poland’s energy giant PKN Orlen.
After Poland sanctioned PAO Gazprom over the war in Ukraine, Buda said there was a
AP/D M ITRI LOv ETSKY
“decision stalemate” at EuRoPol Gaz, with the Polish operator having “no partner” to decide on the necessary maintenance work with.
“We are doing everything possible to eliminate the effects of Russia’s aggression and to eliminate Russian capital and Russian influence,” Buda said.
In Germany, confusion over ownership and sanctions also played into the decision to nationalize a former Gazprom subsidiary.
In early April, the German government put its network regulator in charge of what was then Gazprom Germania after an opaque move by the former parent company to cut ties with the unit. The regulator was ap pointed as the company’s trustee, with the right to dismiss and appoint managers.
The company was subsequently hit with sanctions by Russia in a tit-for-tat move for Western sanctions over Ukraine.
Germany's Economy Ministry said the Russian sanctions put the company in a dif ficult financial situation and that business partners and banks have either ended ties
with it or declined to build new ones as a result of the unclear ownership situation.
SEFE already had received €11.8 billion ($12.2 billion) in government loans to stabi lize the company. That is now being increased to €13.8 billion.
The government is taking over SEFE via a capital cut that removes previous stockhold ers, along with an injection of some €225.6 million in new capital under the umbrella of a government-held holding company.
It's the latest energy sector nationaliza tion by Germany. In September, the govern ment said German authorities were taking control of three Russian-owned oil refineries to ensure energy security. Two subsidiaries of Russian oil giant Rosneft were put under the administration of the national network regulator.
Shortly afterward, the government an nounced the nationalization of the country’s biggest natural gas importer, Uniper. The company’s losses had mounted as Russia reduced gas supplies. AP
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BusinessMirror Monday, November 28, 2022
An oil tanker is moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in novorossiysk, Russia, Tuesday, October 11, 2022, one of the largest facilities for oil and petroleum products in southern Russia. AP
A view of the business tower Lakhta Centre, the headquarters of Russian gas monopoly Gazprom in St. Petersburg, Russia, April 27, 2022. Germany said Monday, november 14, 2022, that it is nationalizing the former German subsidiary of Russian natural gas company Gazprom months after it was put under the control of a government agency, marking its latest nationalization in the energy industry since the war in Ukraine.
Learning the ropes of customer experience
ALMOST six months ago, I relinquished my marketing and public relations hat to embark on a jour ney into the unknown. With bare ly two weeks’ notice, I was cata pulted to the world of customer experience (CX). I had some idea of how things worked on that side of the fence, having worked with the team as the head of the marketing function. But I had no inkling how complicated it really was – or how useful my communi cation and marketing background would be in my new role.
PR Matters
By Abigail Ho-Torres
A few days before officially stepping into the new function, my new team gave me a crash course on the various aspects of the department. In the Mayni lad universe, the CX function is in charge of all processes, poli cies, and standards within the Customer Experience and Retail Operations (CXRO) division, in cluding internal and external au dit findings that need corrective actions or improvements.
It also handles the develop ment and execution of programs that aim to enhance customer satisfaction. This includes all technology-driven improvements and enhancements, both on the front-end and the back-end. On top of that, the team thought of ways to make work easier for our frontline personnel.
From my old department, I brought with me the market re search practice, which we later renamed Strategic Insights. It made perfect sense, given that our most frequent internal client was the CX team and the rest of the CXRO division. With direct access to the frontline services team, the customer-facing func tions, we are better positioned to use consumer insights to improve what takes place on the ground.
I am not going to lie—the first few weeks were tough. It’s still tough, almost six months in. But during those months, I have learned so much from my teammates in CX and the rest of CXRO. I have come to realize how difficult it is to be on the opera tions side of a water utility. We literally do not sleep when we have big scheduled service inter ruptions. There are update and alignment meetings all through out the workday, and some more well into the night.
But while there were a lot of differences from my previous PR, government relations, and mar
portant to drop any notion of wanting to deliberately steer clear of potential sounds and themes we may have already done when being unapologetic and honest in songwriting and arranging,” the folk-pop collec tive said in a statement. “Like in love, the more you fight the feeling, the more one might feel internally dissonant.”
keting roles, there were also a lot of similarities. I found the transi tion relatively painless (or maybe I just have high pain tolerance?), with many of my skills as a com munication practitioner coming in handy. Years of formulating and executing strategies, reading various forms and layers of data to guide strategy formulation, and operating with a customer-first mindset helped me seamlessly transition into the new role. I would like to share some of my learnings over the past month.
1. Communication is key, no matter where you go A S P R professionals, it is manda tory for us to have strong com munication skills, both oral and written. The same is true in CX. Knowing how to talk to customers and engage with them can spell the difference between an irate customer and a satisfied one, and between a satisfied customer and a delighted one. Communication should not be viewed as a second ary skill, or a nice to have, for CX professionals. It is a necessary skill, if you want to succeed in this field.
less feeling of nostalgia and earnestness, while captur ing the sound of a generation drawn into 70s singer-song writer calm and pop-rock vigor.
2. Your crystal ball comes in handy, too PR practitioners, along with mar keting professionals, have to be the best trend-spotters in an orga nization. They have to anticipate questions that the media will ask or how people might react to a certain campaign. In CX, you also have to be some sort of “prophet” as well. Anticipate customers’ needs before they are even aware of those needs. Have solutions in place for problems that have not even surfaced yet. Be ready with re sponses to whatever question your customer may throw your way.
3. Connections matter H Av I n g a wide network is equal ly important for both PR and CX professionals. The same way PR executives get their stories picked up by the biggest media agencies when they have good relationships with reporters and editors, CX people are more likely to positively influence customer behavior when they have good relationships with influencers in their communities. By influenc ers, I don’t mean the social media kind. These are ordinary people
way that they remember the people in their lives whom they can really call ‘Dear’ as well.”
in certain groups or communities that command respect from their circles. A word from them can result in an irate customer com munity or a satisfied one.
4. Information is king W E h ave known this for a fact for a long time, as information can be both a weapon and a shield for PR practitioners. The same can be said for CX professionals. Every strategy, program, innovation, or engagement is guided by table upon table of all sorts of numbers and by a long string of informa tion culled from different sources. Even your gut feel and knowledge from experience can be corrobo rated and supplemented by data and information.
5. No man is an island T H IS is true for any function within an organization, and in real life, for that matter. But this is even more crucial for both PR and CX professionals, as neither can function without connecting with other moving parts within a company. n o s trategy can be formulated or executed without the help of others. Cooperation
and collaboration are necessary to make any plan work.
While my CX journey has just started, I am grateful for the things that I have already learned along the way. Each day brings a new challenge, and each chal lenge brings another opportunity to learn, collaborate with others, and put my communication skills to good use. We in PR are quite a versatile lot. Let’s make that versatility work for us and our organizations.
PR Matters is a roundtable col umn by members of the local chapter of the United Kingdom-based Inter national Public Relations Associa tion (Ipra), the world’s premier orga nization for PR professionals around the world. Abigail L. Ho-Torres is AVP and Head of Customer Expe rience of Maynilad Water Services, Inc. She spent more than a decade as a business journalist before mak ing the leap to the corporate world.
We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or com ments to askipraphil@gmail.com.
ter bagging five wins including Album of the Year at the re cently concluded Awit Awards 2022, Ben&Ben returns with a new single that captures the es sence of romantic love without forcing or expecting anything in return.
Setting itself apart from the conventional themes often as sociated with the subject, the nine-piece band encapsulates love that is earned through perfect timing and experience.
On “Dear,” Ben&Ben inter prets a love song that is un apologetically bare in its mes saging.
“We think it’s equally im
Penned by Paolo Benjamin and Miguel Benjamin, “Dear” serves as a reflection of the band’s collective and individual experiences with love so far and how one becomes stron ger after going through bitter sweet lessons in life. The song was recorded at A.R. Rahman’s Firdaus Studio during their time at Expo 2020 Dubai.
“Dear is a song that tries to capture the feeling of a deeper kind of romantic love; one that begins when a person surren ders the pursuit of a lover itself to a higher power,” revealed Ben&Ben.
From a production stand point, “Dear” evokes the time
not only were we able to use their world-class studio space and equipment, but we also h ad the pleasure of work ing with the stellar team at Firdaus Studio, including Peter El Khoury, Alexander Theux, Theodore Danso, and Ali Has san,” said the multi-award-win ning band. “Unlike most of our tracks that we record individu ally in the studio, we decided to record this one together as a full band, and we feel the final track really reflects that more ‘old-school’ feeling of looseness and authenticity.”
Ben&Ben hopes that mu sic fans will connect instantly with the song and get a very valid answer to the question, “How do I know when I’m sure about somebody?” As the Pa ninindigan Kita act put it, “We also just really hope this song connects people together in a
Ben&Ben’s “Dear” is out now on all digital music platforms worldwide via Sony Music En tertainment.
n INdepeNdeNt ageNCY gIgIl wINs sIlvers, BroNze for ph at the 2022 ClIo eNtertaINmeNt awards
MA n I LA, PHILIPPI n ES —Cel ebrating creativity in the en tertainment business, the Clio Entertainment Awards recently announced its winners span ning the globe. One Philippine agency had the good fortune to be recognized with wins for their work with streaming gi ant ne tflix.
gIgI L was shortlisted for the medium of Theatrical/Film: Social Media in the Social Con tent Campaign category. This particular campaign (dubbed “globe”) promoted the ne tflix film Red notice on ne tflix and saw the iconic SM Mall of Asia globe seemingly stolen.
The same agency won a Bronze Clio for the Theatrical/ Film: Out of Home medium and Other category also for ne tflix. This time around, to promote the ne tflix film The gr ay Man starring Ryan g o sling and Chris Evans, the “Reel to Real” campaign went interactive.
A combination of fireworks, active billboards, and even stunt fighting were coordinat ed across B g C , Pasay, Manila, and Ortigas. The desired effect saw people taking to the streets and pulling out their phones to record the events prior to post ing on their respective social media accounts.
gIgI L’s work for netflix also netted it two Silver Clios. One for Television/Series: Digital Mobile in the v i rtual/Augmented Reality category, the other in Television/Series: Social Media for Long Form Social v ideo.
The former was for the cam paign “Literal Money Heist” done to coincide with the final season of the Spanish-produced Money Heist a.k.a. La Casa
de Papel. The agency marked several Philippine peso bills with scenes from the show that could then be seen using a spe cial filter on smartphones.
For the latter, the “Jaywalk ing” campaign celebrated the surprise global hit from South Korea that is Squid ga me. gIg I L shared the Metro Manila De velopment Authority’s statis tic that 54% of road accidents in Metro Manila are caused by Filipinos blatantly jaywalking.
The agency then placed the creepy doll from Squid ga me, known as Young-hee, in sev eral spots to indicate if people can cross or not on pedestrian lanes. With the doll’s creepi ness and calling out violators, the campaign went viral to the tune of 279,000 shares and 87,700,000 views.
The recognition for gIgI L’s campaigns for netflix is no small feat for the independent agency but a testament to their creativity despite the continuing challenges posed by the pandemic over the past few months.
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Monday, November 28, 2022 B5 www.businessmirror.com.ph
Marketing
VECTORJUICE
f R EE p k. O m
n Be N&Be N d el I v ers a love so N g t hat Is u N apologet IC a llY B a re w I th ‘d e ar’
MA n IL A, PHILIPPI n E S—Af
MPIF, MMCF Bring ‘Health It Up!’ to Siargao; provides hospital-in-a-bike for accessibility
METRO Pacific Investments Foundation Inc. (MPIF), the corporate social responsibility arm of infrastructure conglomerate Metro Pacific Investments Corporation (MPIC), mobilized Health It Up! (HIU), a two-day medical mission for coastal community residents of nine municipalities in Siargao last November 18 to 19, 2022.
Health it Up is a partnership of MPIF and Makati Medical Center Foundation (MMCF) to address the health concerns of fisherfolks and coastal communities in Shore it Up’s partner sites that help protect and restore the ocean.
MPIF flew in 40 doctors, nurses, and medical practitioners to provide quality healthcare services such as surgery, optical, dental, pediatrics, general medicine, OBGYN, E.N.T., and orthopedics to almost 2,000 Siargaonons from the municipalities of General Luna, Del Carmen, Burgos, Dapa, San Benito, Pilar, San Isidro, Socorro, and Santa Monica.
“We realized that a healthy environment involves healthy stewards ably taking care of our ocean’s natural resources,” says MPIF President Melody M. del Rosario. “MPIF’s commitment to our partner sites nationwide goes beyond environmental and socioeconomic impact and now promises to bolster the health and wellbeing of its people as part of a healthy ecosystem in the years to come.”
MMCF and its volunteer doctors devoted two full days of delivering healthcare services to the island of Siargao, first in Burgos to cater to its community and nearby municipalities such as Sta. Monica, San Isidro, San Benito, Pilar, and Del Carmen; and in General Luna for residents of General Luna and Dapa.
Their efforts resulted in over 2,150 patients served: 400 for optical, almost 200 for dental, over 260 for pediatrics, 800 for adult general medicine services, almost 250 for OB-GYN, 93 minor surgical operations, and 42 trainees of the Hospital-in-a-Bike BLS Training.
“This public-private partnership between MPIF, MakatiMed Foundation, the LGUs and the Armed Forces of the Philippines is built upon our mutual
purpose – to help those who need it most, when they need it most,” says MMCF President Dr. Victor L. Gisbert. “We hope that this program strengthens both their physical and mental wellness and helps them move onwards with the new normal.”
Parallel to the Health It Up! medical mission, MPIF likewise gave a gift of health and wellness with its mWell-onthe-Go bag per municipality to aid in augmenting their telehealth connectivity, healthcare accessibility, and disaster preparedness. MMCF, along with other sister companies under Tulong Kapatid, PLDT-Smart Foundation and Maynilad, also supplemented these efforts by donating Hospital-in-a-Bike units per municipality.
Each mWell-on-the-Go kit contains a tablet, a Smart Pocket Wi-Fi, a power station, a solar panel charger, and an mWellness kit with an oximeter, BP monitor, and digital thermometer. In addition, MPIF also provided portable water filters which will enable the beneficiaries to produce clean, drinking water through filtering the likes of rainwater, muddy water, and others, sans saltwater.
MMCF’s Hospital-in-a-Bike contains a basic Trauma Kit that includes medical
supplies and equipment such as nasal tracheostomy tube, surgical tools, and portable oxygen, as well as specialized communications equipment – housed in a bag attached to a mountain bicycle.
“The provision of efficient and accessible healthcare imparted to us by the MVP Group, truly makes a life-changing impact to the public health services that we can provide to our people,” says Province of Surigao del Norte 1st District Representative Cong. Bingo Matugas. “We are very thankful to their entire group for always being there for Siargao and we hope to give back to them by continuing the good work we do.”
The efforts of the MVP Group through Tulong Kapatid launches the second year of Tuloy Pa Rin Ang Pasko, its nationwide Christmas initiative aimed to keep the Christmas spirit alive, no matter the situation.
Health It Up! Siargao and the commitment to strengthen the quality and accessibility of the province’s healthcare, is aligned with MPIC’s efforts to contribute to the United Nations Sustainable Development Goals (SDG), particularly SDG 3 Good Health and Well-being and 17 Partnerships for the Goals.
Media, motor vloggers get to experience the all new Suzuki Avenis during fun ride in Rizal, and Quezon
Infanta Highway or more popularly known as Marilaque Road and back. Then the Southern route was a journey totaling 128 kilometers from the Suzuki Philippines plant in Calamba, Laguna to the famed Villa Escudero Plantations and Resort in Tiaong, Quezon via the Los Baños-Calauan-San Pablo-Tiaong route and back as well. On both challenges, the Avenis performed well much to the delight of the participants.
PHL Chamber of Commerce to hold LGBT-centric job fair on November 29 at Ayala South Park, Muntinlupa
THE Philippine Chamber of Commerce and Industry-National Capital Region South Sector is spearheading a job fair and forum with inclusivity of marginalized sectors central to its theme.
The Job Fair For All is scheduled on November 29, from 8:30 am to 5 pm, at Ayala South Park in Muntinlupa. The job fair will be held at the mall’s lower ground area while a program takes place at the Activity Center.
The job fair with its theme of “embracing diversity and taking pride at work” will accommodate everyone, especially members of the LGBTQIA+, PWD (Persons with Disability), and senior citizens.
PCCI NCR South Sector Elvie Sanchez–Quiazon shared, “PCCI NCR South Sector addresses the roadblocks in the runway and takes responsibility to spearhead a string of job fairs, the pilot project of which is in Muntinlupa, to be followed by ones in Las Pinas, Makati, Paranaque, and consequently in all other PCCI NCR cities.”
“We believe that job creation is paramount to wealth creation. A string of job fairs will maximize productive employment and help poverty reduction by providing an unprecedented full-scale employment,” Quiazon said.
Nigel Aguilar Masangkay, founder of Diversity and Pride at Work and also the PCCI Muntinlupa City director, said that each of the participating company will present their vision, mission, objectives, core values, branding and competitive advantage and qualifications for their required manpower. The list of job vacancies will be played during the event and posted on a website for access by all of job seekers from different Muntinlupa barangays, graduates of Lyceum Alabang, STI College of Alabang, San Beda College Alabang, MCTI, and Pamantasan ng Lungsod ng Muntinlupa.
Lolita Duria, PCCI Paranaque President, said, “The challenges that we are grappling with provides meaningful opportunities
for collaboration. With effective synergy, the Philippine Chamber of Commerce and Industry NCR’s initiative and partnership with stakeholders Rotary Clubs, corporate companies, manpower agencies, PESO, LGU, the academe, and barangay officials may help reduce the unemployment rate, inspire entrepreneurship, and accelerate flourishing livelihood for inclusive growth.”
The forum will feature notable inspirational speakers led by Vice President Sara Duterte, Senator Cynthia Villar, Labor Secretary Bienvenido Laguesma, Muntinlupa Rep. Jaime R. Fresnedi, Muntinlupa Mayor Rozzano Rufino B. Biazon, Cecilio Pedro, Freddie Marquez, Atty. Josephus Jimenez, and other dignitaries.
“Let this be an avenue to shop for possible employment opportunities. For corporate companies, let this be an opportunity for your workforce pooling and showcasing of your products. Your brand just might be the avenue for not merely networking but meeting future investor or partners,” Jana Benjamin, president of Rotary Club Muntinlupa Business District, said.
Radenta Technologies offers free trial for Acronis Cyber Protect Cloud with upgrade to Acronis Cloud Partner
RADENTA Technologies, one of the country’s premier IT solutions integrators, is offering a one-month free trial for Acronis Cyber Protect Cloud with an upgrade to Acronis Cloud Partner.
The trial includes basic provisioning and installation of Acronis Cyber Protect VM or Workstation License, access to Acronis Cyber Protect Cloud’s integrated security, management and disaster recovery.
According to the Cyber Protection Week Global Report 2022, 76 percent of companies suffered IT downtime in the last 12 months, 36 percent of which was caused by cyber attacks. Ransomware and malware continue to be the topmost threats to large and mediumsized businesses. Global ransomware damages are estimated to exceed US$30 billion by 2023.
The survey further showed that 61 percent of IT experts employed by global organizations prefers integrated solutions instead of complicated stacks of cybersecurity and data protection tools.
a cost saving of up to 50 percent.
“Acronis Cyber Protect Cloud is an incredible solution for our partners looking to equip their end-users with high-end, sophisticated, allin-one cyber protection solution,” according to Radenta Service Delivery Manager Denis Bermudez.
The AI-based unified data protection and cyber security solution of Acronis meet a critical need to secure remote and hybrid networks against emerging cyber threats.
“The cyber threat landscape has changed dramatically over the past two years. Organizations are seeking not only greater security, but lower costs and improved efficiency thus creating unique opportunities for service providers who offer in-demand cyber protection services,” said Neil Morarji, Acronis General Manager in APAC.
AS things get back to normal, more riders have been heeding the call of the open road to celebrate the postpandemic days in full force. Leading the charge is Suzuki Philippines and its loyal customers who have been raring to get back on the road as well, to simply relax and enjoy the scenic routes all over the country.
Just recently, several media and motovlogger friends of Suzuki Philippines had fun rides on the all new Suzuki Avenis, the Japanese company’s latest muscular sporty scooter. Two groups were able to ride the Avenis and experience its performance, comfort, agility, handling and even fuel economy for the first time on two separate occasions—one headed East, and another South of Manila.
Participants took the Suzuki Avenis from city roads to the outskirts of Rizal and Quezon. Travelling from one town to another, they rode through the network of concrete and rough trails typical of Philippine roads. What surprised them were their initial experiences on the Avenis on these long rides.
Pag long rides naman ok na ok siya dahil yung power at comfort nandun yun eh.Yung hindi ka mangangalay lalo na sa suspension side,” explained Joel Joya of Motorsikolo
“
Ang nagustuhan ko rito, number one, ipinapakita niya ang average fuel economy. Second, temperature. Usually yung mga ganitong mga bagay makikita mo siya sa mga mamahaling big bike pero dito sa Avenis, standard feature siya,” Brando Rosales of MotoPinas said.
“I really liked the muscular and chiseled design. Kumbaga sa mga tao may mga cuts,” said Lucas Reyes also known as Tormots of Tropang TopBikers.
James Orlanda of Speed Magazine gushed “Grabe, mukhang macho talaga!”
“It is a really stylish bike. Medyo looker talaga siya so may road presence,” said Leandre Mari Grecia of Top Gear Philippines, while Alex Alo of Lifestyle of Wheels added “Sporty talaga ang itsura niya. From the front hanggang sa back. Aesthetically ang ganda!”
Gilbert Chao of MotoPh.com/Pilipino Star Ngayon praised one unique and practical feature of the Avenis. “Gusto ko particularly yung pagkakapuwesto nung gas filler na nasa likod. Hindi mo na kailangan buksan yung saddle para makapagkarga ka ng gas.”
The Eastern route was a 133-kilometer ride from Bonifacio Global City (BGC) to the Pinto Art Gallery in Antipolo City, then Bukid Café in Morong, Rizal, through the Marikina-
“We’re happy to have prepared this day for our media friends to test and to give an overall ride evaluation of the new Avenis. We have designed routes that will provide interesting backdrops to the new product that we have just recently launched, knowing that these will add interest to the stories they will create” said Nenuka Guba, Motorcycle Marketing Manager, Suzuki Philippine Inc.
The Avenis, with its all-aluminum fourstroke, single cylinder, with Suzuki Eco Performance 125cc fuel injected engine scooter was put to the test through traffic, twisties, and up and down roads. And even in such conditions the Avenis, had the riders feel safe and comfortable.
“Maganda yung riding position na binigay sa akin nung Suzuki Avenis. Kahit na 6’2’ ako, hindi sumakit ang likod ko,” recalled Fort Manahan of Carmudi/Zigwheels/ Yahoo PH.
Naging confident ako kahit na sumingit sa mga traffic at saka magaan siyang gamitin para sa isang girl rider,” Donna Alo of Lifestyle on Wheels, shared on her pleasant experience.
Messages and reactions of riders and scooter enthusiasts were also posted on Suzuki’s Facebook page and most mentioned about positive and wonderful experience they had while riding on their own, new Avenis scooter.
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Monday, November 28, 2022 B6
News/Sakay Pilipinas.
METRO Pacific Investments Foundation, represented by its President Melody M. del Rosario (4th from left), and MakatiMed Foundation, led by its President Dr. Victor Gisbert (2nd from right), turn over Hospitals-in-a-Bike to Del Carmen Mayor Alfredo M. Coro II and Burgos Mayor Angie B. Arcena
NASUGBU TECHVOC STUDENTS GRADUATE. Fifteen technical vocational graduates recently received their certifications on Shielded Metal Arc Welding (NCII) and Electrical Installation and Maintenance (NCII) during the graduation ceremonies led by SM Foundation (SMFI). SM, through SM Foundation, has been providing deserving and qualified students with access to technical-vocational studies to facilitate equitable access to employment opportunities since 1993. To date, SMFI has produced more than 4,500 tech-voc scholar graduates nationwide.
‘Maria Clara at Ibarra at Klay’
IN 1998, GMA Films produced José Rizal, a historical drama about our National Hero.
The landmark film involved future National Artists—director Marilou Diaz-Abaya (Film), cowriter Ricardo Lee (Film and Broadcast Arts), Tony Mabesa (Theater) and Kidlat Tahimik (Film).
This year, GMA Network produces the top-rating Maria Clara at Ibarra, based on the characters of Rizal’s provocative novels Noli Me Tangere and El Filibusterismo
The TV series, which airs weeknights, is a timetraveling/fantasy tale that has been mesmerizing the Gen Z demographic.
People applaud the show for its powerful but non-didactic take on history. It may also be credited for a rising interest in Rizal’s life and books, as well as a resurgence on the dying artisanal skills of our craftsmen.
The cast performances are acclaimed across the board, as well as the production and writing. What’s also most impressive is the faithful depictions of the fashions of the era. Kudos goes to the stellar work in the styling of the characters by Janra Raroque and Roko Arceo (with Mikaella Borinaga).
STYLING VS COSTUME DESIGNING
RAROQUE studied fine arts at the Far Eastern University. Arceo studied multimedia arts at the College of Saint Benilde, and courses in pattern making, sewing and styling at the Fashion Institute of the Philippines.
Arceo says: “As stylists, we source the pieces, set the mood, curate and decide on what the characters will wear based on the scenes. We study the character sketches, read the script and collaborate with the designers, giving them the artistic freedom to create the garments.”
Raroque: “It is a more appropriate term because costume designing usually implies that we are the ones who make the costumes ourselves.”
knowledgeable
CONSULTANTS ON HISTORY
Arceo: “Besides [fashion historian/scenographer] Gino Gonzales, we have also been working closely with Dr. Siao Campoamor, vice chancellor and professor of the Department of Filipino and Philippine Literature in University of the Philippines Diliman. We consult every scene with him, especially when we can’t understand Rizal’s detailed description in the book. We also referenced some of the looks on Juan Luna’s Bocetos and Leonard Tayao-Cruz’s Noli Me Tangere paintings.
JACKETS DU JOUR
WHETHER you’re dressing for cooler weather and rainy days, planning a holiday getaway, or visiting family and friends abroad, it’s time to bundle up again in style with the latest outerwear collection from Surplus with stores in most SM Malls nationwide. If you’re in revenge travel mode or simply making that long delayed visit to relatives in cooler climes, there are classic trench coats, as well as winter jackets so soft and supple they’re a dream to pack.
After flying under the radar for the past few seasons, bomber jackets are back in a big way for 2022, with everyone from Prada to Loewe showcasing them on the runways. This street style staple finds expression today in oversized, minimalist styles. Other jackets du jour: biker jackets, the classic puffer, hoodies and cardigans livened up with layering, pops of color and floral prints.
Surplus can also be found online at Lazada, SM Malls Online and ShopSM, an order-to-deliver is available via their Viber community.
MOST TECHNICALLY CHALLENGING COSTUMES
Raroque: “We think that all of the costumes are all technically challenging because we’re basing our costumes on paintings and sketches. We only have a couple of photos from books and online as references but no actual garments. The procurement process of the fabrics and accessories was the most challenging because most of it was difficult to source out.
“We went all over Luzon to source out fabrics. We scoured through all the shops in Divisoria selling vintage lace, trimmings and menswear fabrics, Vigan for the nipis, a super thin gauze-like material used by the working class, and inabel, a woven cotton fabric made by the Ilocanos. “We also went to Lumban, Laguna, for the embroidered piña fabri. Margie Sorio, our costylist, went all the way to Abra for the upo salakot worn by Elias.
“We also had to seek out local artisans who are
“Francis Gum, a noted fashion photographer who is based in the US, also took photos of the Pineapple to Piña exhibit at the SFO Museum. The photos helped us pattern our garments and gave us a closer look on the early embroidery designs. We also used online copies of Edward Minister and Son’s The Gazette of Fashion from the 1860-1890s for Ibarra’s Western looks.
“For this project, we tried to stay true to the garments used in that era, thus all of our garments are custom-made. A great deal of effort came from the tailors, designers and artisans who painstakingly worked on all our garments and accessories. We worked with R Casedo’s Embroidery for all the embroidered piña fabrics, Ben Torres Metal Crafts for our repoussé accessories, Kianna Lazaro of Bride House for executing all of our womenswear, and Ryan Chris Baylen for all of our menswear looks. They poured all of their passion and hard work into this project and we can’t thank them enough.”
COSTUMES
ARE INTEGRAL TO DRIVE THE NARRATIVE Arceo: “For Ibarra, we incorporated 1880s
houses Japanese beauty brands and salon
European menswear patterns and tailoring into his look. This is to reflect the character’s European upbringing. The Western fashions of the time consisted of coats, waistcoats and trousers— completing the look with a top hat, cravat tie, pocket watch and a walking stick. But as the show progresses, we will be adjusting his looks to more weatherappropriate fabrics and colors and adding a couple of barong Tagalog outfits in the mix.
“This European silhouette is in contrast to Elias, which is inspired by the working-class Indio men. We tried to keep him as simple as possible, utilizing fabrics that reflect his social status.”
Raroque: “For Barbie’s character Klay, since she is from the year 2022, we wanted to make her look as if she is from the outside looking in—in a sense, she stands out from the rest of the characters. Her silhouette is inspired by the 1860s, since she is mostly wearing hand-me-downs from Ibarra’s mother. The shape of her skirts are much more of a ball shape, which was the trend at the time. Her skirts are also pleated in the style of siete cuchillos, or a skirt with seven panels.
“These details, I believe, differentiate Klay, a ‘modern Maria Clara’, from our OG ‘Maria Clara’. To create Julie Ann’s look for the show, we wanted to create the essential Traje de Mestiza, the traditional dress that was named after the character. The silhouette is inspired by the 1880s— her saya comes with trails in floral and damask prints. She also has elaborate accessories, the peineta, the Porta Abanico, her Victorian cameo choker, a tambourine necklace and earrings—all of which are gilded in gold, to signify her social status as an Illustrado woman.
“With Sisa, we took inspiration from the baro’t saya worn by Filipinas who were lower class. Even though it lacks the embellishments and finer details of the Traje de Mestiza, there is beauty in how the Indio women draped the tapis and the saya to match their lifestyle, working in the fields during the day.
“Costumes are integral for the world-building that the narrative requires, especially that social status is a huge component in the original novel.” n
Standard, and La Casta.
La Casta is a line of soaps, hair products, lotions and essential oils, while Waphyto offers personal-care products in the Clean Beauty category. Meanwhile, E Standard is a haircare brand. I have tried their shampoo and conditioner and I liked them a lot.
I have seen displays of New Summit Colors Distribution, which carries Revlon Professional, Cynos, American Crew, Orofluido, and many others. I’m glad that I can now buy these brands from a physical store because I am a big fan, especially of Revlon Professional and American Crew.
WHEN it comes to makeup and skin-care products, I always say that if they’re from Japan, they must be really good. I love Japanese lotions (Hada Labo) and sunscreens (Anessa). My skin care is mostly Shiseido and my favorites from the brand are Ultimune Power Infusing Serum and Essential Energy Hydrating Cream. For the past year, my frequently-used face base is the Shiseido Synchro Skin Radiant Lifting Foundation.
I recently attended the soft opening of Mitsukoshi BGC, which isn’t fully complete yet but already houses some retail and food stores. Once you enter the mall (8th Avenue corner 36th Street, Grand Central Park, North BGC, Taguig City), you’ll see The Matcha Tokyo to your left and Shiseido to your right.
Before I talk about the beauty aspect of the development, here’s some information about it. Mitsukoshi BGC is a tripartite development of Isetan Mitsukoshi Holdings Ltd., one of the largest department store groups in Japan; Nomura Real Estate Development Co., Ltd., a Japanese real-estate giant, and Federal Land.
“It took eight years to get to this dream,” said Federal
that those who touch the Mitsukoshi lion will be blessed with good luck. There is also monument called “Joining Hands,” which symbolizes Philippine-Japan ties.
The geometric patterns on the façade and a modern take on the traditional Japanese hemp leaf were designed by interdisciplinary artist Asao Tokolo, whose work includes the victory ceremony podiums and emblem of the Tokyo 2020 Olympics.
The 4-story mall will showcase Japanese design elements in a casual but elegant setting, and feature a selection of shops and highlight the Japanese way of polite service known as “Omotenashi.”
such as Japanese-style beef curry, soup, and Japanese mixed rice. There is even a Sake & Shochu section where you can enjoy a glass of liquor with your fresh sushi to round out your authentic Japanese meal. Shochu is a distilled beverage that is similar to brandy and vodka.
Another in-house brand is The Bakery, which will offer more than a hundred types of high-quality bread and pastries such as thick-sliced white bread and deep-fried “curry bread.”
Now for the best part (for me, at least): Mitsukoshi Beauty will house Japanese brands and a beauty salon with bespoke services. This section of the mall has gorgeous displays. Making their debut in the Philippines are Waphyto, E
Beauty Box Corp., which distributes Japanese brands like Kracie, K-Palette, Ichikami, Himawari, Kiss Me (I love their hand cream!), momo puri, Cure, and many others, also has a kiosk in Mitsukoshi Beauty.
Mitsukoshi Beauty also has a Laneige counter and I know that Laneige is a Korean brand but it’s nice to see a physical counter with all the shades of their famous Neo Foundation, which was awarded for its design.
Curated salon services will also be available in Mitsukoshi Beauty in collaboration with Kiyosa Japanese Total Beauty.
Once open, the salon will offer Japanese-quality treatments such as nail, eyelash, and hair blowout services. Kiyosa, according to many beauty enthusiasts, is the best place to get gel nail art. Their technicians are trained for three months before they’re allowed to do the nails of customers. Kiyosa also uses gel polish brands from Japan so it’s understandable that their prices are more expensive than those of regular salons.
So I’ve been asked if making a trip to Mitsukoshi BGC is worth it and here’s my answer: If you live in Makati and BGC, yes. If you live up North, maybe you should wait until early 2023 when all the stores should already be open.
of repoussé, or pukpok—the metal art technique for our peinetas, tambourine accessories, escapulares, fan guards, metal embellishments attached to the corchos and even the buttons and belt buckles used by the guardia civil. This method is a rare and dying craft but we were lucky to have worked with the very few local artisans who knew this technique.”
Gerard S. Ramos • Monday, November 28, 2022 B7 Style BusinessMirror www.businessmirror.com.ph
Editor:
BARBIE FORTEZA is Klay, the nursing student transported to the Spanish colonial period to learn more about our history but whose feminist, modern views is shaking up the world of Ibarra (the always dependable Dennis Trillo), Maria Clara (Julie Ann San Jose), Sisa (the awesome Andrea Torres) and Elias (Rocco Nacino).
MITSUKOSHI Beauty carries Japanese beauty brands and will have a salon offering bespoke services.
BGC
ACTIVE style meets color with this yellow bomber jacket worn with jogger pants. EASY getaway style: hooded jacket, honeycomb T-shirt, and lightweight pants.
Mitsukoshi
MESSI AND ARGENTINA: FROM TEARS TO CHEERS
LUSAIL, Qatar—Lionel Messi was almost in tears as he grabbed and shook his jersey in front of Argentina’s celebrating fans, then blew a kiss and looked to the sky.
W ith one of the most important goals of his career, Messi led Argentina to a 2-0 victory over Mexico on Saturday to ignite his team’s World Cup chances.
H is dream of winning soccer’s biggest prize in likely his last attempt is still alive.
“ It’s a weight off our shoulders,” Messi said. “It gives us joy and peace of mind to start again.”
M essi took a touch from Angel Di Maria’s pass across the face of the area and drove a low shot from 25 meters into the bottom corner to give Argentina the lead in the 64th minute.
H is arms outstretched, he ran toward the team’s supporters who were celebrating behind the goal and was soon mobbed by his teammates. He whirled his arms in an emotional response to scoring his 93rd—and perhaps most crucial—international goal.
Substitute Enzo Fernandez added a second goal in the 87th minute, ensuring Argentina bounced back from a 2-1 loss to Saudi Arabia that ranked as one of the World Cup’s biggest ever upsets.
We lived with discomfort and
kept the defeat in the opening match in our minds,” Messi said. “The days were very long,” he said. “We were eager to have the chance to turn the situation around and luckily we won.”
A rgentina is second in Group C ahead of its last match against first-place Poland on Wednesday, and might need to win it to advance.
We can’t let our guard down now,” Messi said. “All of our matches are finals now. We can’t mess up.”
It was an eighth World Cup goal for Messi, the same number scored in the tournament by rival Cristiano Ronaldo and also Diego Maradona—the Argentina great with whom he is so often compared.
For some, Messi needs to win the World Cup—the only major title missing from his collection—to join the ranks of Pele and Maradona as soccer’s greatest ever players. Thanks to this win, it could still happen.
We already know for many years he is the world’s best player,”
Hidilyn faces two formidable foes in Bogota worlds: Kazakh, herself
By Josef Ramos
HIDILYN DIAZ-NARANJO
has two opponents to conquer when she competes at the International Weightlifting Federation World Championships in Bogota next month—Kazakhstan’s Zulfiya Chinshanlo and herself.
“ Hidilyn really needs to show up and dominate,” Samahang Weightlifting ng Pilipinas secretary general Patrick Lee told BusinessMirror over the weekend. “But I do believe she can win the gold there [Bogota].”
D iaz-Naranjo is honing for the world championships—set December 5 to 16 at the Colombia capital—at the Power and Grace Performance Gym in Georgia, USA. She will fly to Bogota with husbandcoach Julius on Thursday.
The country’s first Olympic gold medalist is seeded No. 2 in Bogota behind Kazakh Chinshalo, who settled for bronze in the women’s 55 kgs last year in Tokyo.
There are 26 other competitors in the weight class of the worlds that serves as the first of six qualifiers for the Paris 2024 Olympics.
L ee, a member of the 1993 University of the East weightlifting team, stressed that Bogota ranks as a short-term goal for Diaz-Naranjo
and that Paris should be a more onerous objective.
He said that Diaz Naranjo should improve on the 206 kgs total lift—92 kgs in snatch and 114 kgs in clean and jerk—that won her a second consecutive Southeast Asian Games gold in Hanoi last May.
“ Her lift at the SEA Games wasn’t that heavy, but she still won gold. So she needs to go a little bit heavy in Colombia because of the presence of strong weightlifters from around the world,” Lee said. “It’s a different level in the world championships.”
D iaz-Naranjo entered a total lift of 210 kgs to Chinshanlo’s 215 kgs in the world championships.
Her Paris campaign, Lee said, would be totally different from how she came to and conquered Tokyo—the 55 kgs class for women was scrapped for Paris leaving Diaz Naranjo with two choices, to lose weight for 49 kgs or bulk up for 59 kgs.
She cannot go down to 49 kgs because she will be required to lose six pounds and that’s not absolutely advisable for her body,” Lee said. “That will surely affect her power and strength.”
A lso a gold medalist at the Jakarta 2018 Asian Games and owner of a silver from the Rio de Janeiro 2016 Olympics, Diaz-Naranjo has yet to win a world championships gold.
Forgive doubting Rick
LET’S start off by being a man about it.
I w as wrong for not picking Ateneo to make the Final Four. Wherever they finish after this, they have gone farther than anyone figured.
Me? Yes, seriously.
I h ave had an incredible batting average from the
Championship
L uisita also got solid support from Danilo Cruz and Rodel Mangulabnan, who each had 29s, for the team output of 123 points.
Argentina coach Lionel Scaloni said. “Messi should enjoy this World Cup. All fans enjoy seeing him play.”
Scaloni made five changes from the Saudi Arabia game in a bid to inject some more energy into the team but initially they made little difference in what proved to be a tense game lacking in quality. Argentina’s build-up play was slow and Mexico had little problem snuffing out its opponent’s attacks.
Messi was often seen walking around the field and mostly found himself with two defenders on him each time he got the ball. Frustration was starting to show on his face before the first half had even finished as he implored his teammates to relax.
I ndeed, the goal Messi scored came from one of the first times he found himself in space.
A rgentina’s fans inside the 89,000-seat Lusail Stadium hugged each other. Some cried. Argentina defender Lisandro Martinez fell to the ground and appeared to bury his face in the turf.
I don’t think during the match he
found many spaces in the last third of the field,” Mexico coach Gerardo Martinez, an Argentine who led his native country from 2014-16, said of Messi. “But he only needs a few seconds to be the difference.”
T he momentum of the game changed completely and Mexico suddenly became ragged, with substitute striker Julian Alvarez proving much more effective for Argentina than Lautaro Martinez, the player he replaced.
Fernandez’s goal was his first for Argentina and it was an excellent one. He feigned to go to his left before shifting the ball to his right foot and curling a shot high and beyond Mexico goalkeeper Guillermo Ochoa.
A rgentina’s substitutes poured onto the field to join the celebrations at the same stadium where there was so much despair after the shocking loss to Saudi Arabia.
We knew we had to win today, that another World Cup was starting for us,” Messi said, “and we knew how to do it.” AP
HD Spikers stun Cool Smashers, zero in on finals
RIRI MENESES froze as she spread her wings in a gesture of triumph as the Cignal HD Spikers whooped it up on their side of the court to celebrate a key 23-25, 25-23, 28-26, 25-18 victory over the fancied Creamline Cool Smashers before a big Sunday crowd at the Smart Araneta Coliseum.
The HD Spikers actually haven’t nailed the Premier Volleyball League Reinforced Conference crown, not by any means. But at 2-0 won-lost in the semifinal round and upend ing the grand slam-seeking team in the race for the first finals slot, the back-to-back third placers in this
year’s Open Conference and Invita tionals took a step closer to a dream championship appearance.
“Creamline is a great team, with so many fans. But for us to be able to do it, it’s great in our confidence. It showed in our character, our ability to keep getting better,” Cignal import Tai Bierria said.
Bierria came off the bench late in the opening frame and fired 21 points, matching her record output in leading the team past Chery Tiggo last Thursday. Lightly regarded among the reinforcements for her youth and demeanor, the 25-year-old American continued to prove her worth as
Arcilla, Joven headline Brookside Open field
MULTI-TITLED Johnny Arcilla seeks another open crown to his vast collection but faces a slew of hungry rivals in the Brookside Open National Tennis Championships unfolding Tuesday at the Brookside Hills courts in Cainta, Rizal.
Hostilities actually kicked off over the weekend with the two-day qualifiers to accommodate the big
last 14 years picking winners (playoff bound squads and brackets) not only in the University Athletic Association of the Philippines (UAAP), but also in the National Basketball Association, boxing and the FIFA World Cup.
Th at’s all right. I am happy to be proven wrong.
I h onestly didn’t think the Ateneo Blue Eagles would make the semifinals of the current UAAP season. For real. It was the first time that I was pessimistic about a whole year. Maybe if SJ Belangel, Gian Mamuyac, Raffy Verano and Dwight Ramos were around, I would have felt much different.
I t hought that they were a work in progress and the lack of big game experience for many players would hurt.
W hile it is true there is a lack of experience on the part of many players, I also thought the weak bench would hamper their progress.
But they are in the Final Four.
So my hats off to the Blue Eagles and Coach Tab Baldwin for proving me wrong.
Coach Tab is a brilliant coach and my friends and I have often debated what was his best coaching job.
Well, taking New Zealand to the world championships
number of players hoping to join the Group A tournament that also features Jose Maria Pague, Vicente Anasta, Charles Kinaadman, Ronard Joven, Zion Guia, John Tomacruz and Noel Damian Jr.
A rcilla is coming off a couple of title romps in the Puerto Princesa Open, where he repulsed doubles partner Joven, and in the Pintaflores
Cignal campaign progresses, embrac ing her role as bench player ready to step up at any given time.
She led her team in the last three sets and was in sync with the Cignal locals, both in offense and defense, while sneaking in a number of smart plays with her drop shots and power tips.
It’s the first time we beat Creamline in the semifinals, so it’s a bit opportunity for us to get better,” said Cignal coach Shaq delos Santos, who drew 11 points from Meneses, who won the battle of middles with Creamline’s Pangs Panaga and Ced Domingo, who finished with 10 and six points, respectively.
Festival Open, where he ruled after Pague retired due to injury.
But the 22-year-old Pague, playing out of Zamboanga Sibugay, is coming into the event, sponsored by Palawan Pawnshop-Palawan Express Pera Padala, Rep. Jack Duavit, BHTC president Allan del Castillo, Ret. PNP Dir. Gen. Oscar Calderon, Ret. Gen. Louizo Ticman and Selective Security Services, in good shape with his singles and doubles titles in the Buglasan Open last month.
and the Olympics is tops anywhere. So no argument.
O nce you get past the national team stuff, and talk about Ateneo, there was his first year with them in 2016 when they lost to La Salle in the finals. That was a young team he took there. Then there was the next year where they stopped La Salle once more in the finals. And of course, 2019 when the Blue Eagles swept the league.
Now, this season with Ateneo has to count among them—again wherever they finish from here.
W ith all due respect to their opponents, but the one that did the singular biggest damage to Ateneo’s dynastic title hopes is Covid-19. Because of the pandemic, Ateneo lost many players who never completed their five-year collegiate stint or even played in the UAAP (Dwight Ramos). Even worse, Angelo Kouame is not at 100 percent.
T here’s a terrific University of the Philippines (UP) team plus La Salle (that has had its own share of bad luck with illnesses and injuries) that won the recent Philippine Basketball Association D-League title. National University won a pre-season title despite also losing key players to poaching by UP, and they have been a tough customer all season long.
Manila Southwoods assembled 121 on the 34 of Raul Miñoza, 30 of Junjun Plana, 29 of Theody Pascual and 28 of Manfred Guangko. Playing captain Sumulong said they could have scored better if not for first-day jitters.
We haven’t had a competition as big as this in the last three years. Everybody is adapting to team play again,” Sumulong said. “We just have to keep grinding, especially in the last two rounds at the short but tricky Baguio Country Club, where the real scoring battle is.”
R iviera was a distant third with 111 followed by Mamala Bay 106 and Leeward Filam of Hawaii 92.
I n the Am-A division, Bibak NY/ NJ iGolfers collected 79 points for a front-running 160 total in two rounds. Herbert Donglasan led all scorers with 34, while Diman Felipe, Ramon Gaoat and John Dangos had 18, 15 and 12, respectively.
At second spot was Pradera Verde (81-151) with Willy Cabalce scoring 24, Bobby Inigo 23, Butch Bakunawa 18 and Jojo Mercado 16.
Chan squares off with UFC veteran Chope in URCC 81
VETERAN mixed martial artist
Arvin Chan eyes a big win against American former UFC campaigner Will “The Kill” Chope for the interim welterweight belt in the Universal Reality Combat Championship (URCC) 81 Decades of Success (DOS) on December 6 at the Okada Manila in Parañaque City.
F resh off an inspiring firstround stoppage of Norwegian Abdi Farah in the United Arab Emirates Warriors 33 last September, the 33-year-old wrestler and striker from Zamboanga City is excited to face a seasoned fighter Chope (3818 record with 25 submissions).
It’s a big event on my part to fight in one of the main events at URCC 81 and face Will Chope who already fought in the UFC and other promotions,” Chan, a father of three kids, said. “I’m not nervous but excited to do my best and win that fight so I have to train smarter.”
I fight for them, they are my motivation,” he said, referring to his son Jotam (15) and daughters JD (14) and Kyla (9). “As a single parent, I raise them and send them to school. I want them to be successful in life.”
C han, who is 9-5 won-lost with six knockouts and three by submissions, said he has fought foreigners before, giving him added confidence against Chope in the main event of the card sponsored by Winzir and presented by Okada Manila. Josef Ramos
Far Eastern University, Adamson University, and the University of the East also have very good teams with the former two strong Final Four candidates.
W ith a thin bench and inconsistent if not underwhelming play from many players, they are in the Final Four with a twice-to-beat advantage.
A nd if they defeat Adamson University in their final elimination round game, they could be tops in the standings. Could be.
I magine that!
O f course, the goal is a championship. It is Ateneo after all. Maybe for others making the playoffs is morale boosting and is an indicator of going in the right direction. Some programs are like that after all. But in this age of big boy sponsors, anything less than a title is a failure.
Yet, this season, or even in the next few, consider everything that has happened or not happened to Ateneo… this is pretty good.
Sure, some will disagree. Maybe many. Wherever they end is already an accomplishment because many did not see them getting here or being in this position.
Now, it will still be nice to continue to be proven wrong.
Sports BusinessMirror B8 Monday, noveMBer 28, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao
THE Cignal HD Spikers are a win shy of shocking their extremely popular opponents.
Sumulong, Luisita ahead in Fil-Am golf
CHAN CHOPE
WITH one of the most important goals of his career, Messi leads Argentina to a 2-0 victory over Mexico to ignite his team’s World Cup chances. AP
BENJAMIN SUMULONG scored 35 points while Martin Ilagan added 30 as Luisita opened a two-point lead over Manila Southwoods at the start of the Fil-
division of the 72nd Fil-Am Men’s invitational at the Camp John Hay Golf Club in Baguio City Sunday.
BENJAMIN SUMULONG has 36 points to lead his team’s charge.