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Briefly Korean trader rescued ALERT police in Iligan City rescued a Korean national in the hands of kidnapping suspects in a brief gun battle Sunday evening, Pol. Supt. Ronnie Cariaga, spokesperson of the police regional command here said on Tuesday. Cariaga identified the rescued kidnapped victim as Ms. Yeung Ting Ting, 45, a Korean national, who was forcibly taken by six unidentified armed men at Hong Jek Merchandise along Quezon Avenue in Iligan City Sunday evening. He said the suspects forced Ms. Yeung to a waiting getaway van, a red Toyota Lite-Ace with plate number GSH-351. The Iligan police immediately put up blocking forces when informed of the kidnapping. The police intercepted the van along C-3 Road in Brgy Santa Elena, Iligan City, Cariaga said.
Coop’s appeal DIGOS City -- The Davao del Sur Electric Cooperative, Inc. has asked for public understanding and patience on the continuing brownouts in the province. DASURECO general manager Engr. Godofredo Guya raised the need for the residents to be more enduring of the power situation as they announced through text blast to the media that the province could experience longer brownout period starting April 25. Guya explained that the prolonged brownout was due to “severe power supply deficiency” after two of the four power barges of its supplier Therma Marine, Inc. were damaged.
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Solar power firm offers lower rates to utilities Lim Solar offers P7.47/KWh, 100% financing scheme for residences, SMEs
I
By BONG FABE, Associate Editor
N an effort to entice electric cooperatives as well as small and medium business enterprises (SMEs) in the southern Philippines to help in addressing the so-called Mindanao power crisis, a solar energy company is offering them P7.47 per kilowatt hour (KWh) as well as 100 percent financing scheme.
SOLAR PROJECT. Engr. Winston Mendoza, (L), chairman of Lim Solar Philippines, shows electricity bills from his “partners” in the US showing a significant reduction in their monthly bills after he installed solar power in their residences. photo by bong d . fabe
Biz group hails investment upgrade
Lim Solar Philippines (LSP), a subsidiary of the California and Nevada, USAregistered renewable energy company Mendoza Solar LLC, is also offering Mindanao electric cooperatives the lease of its 5 megawatt (MW) hybrid power plant (2 MW solar pv and 3 MW gas turbines) at a fixed price of P7.47 KWh for 15 years, after which the cooperatives have the option to purchase it.
“For Mindanao, I will offer P7.47 per KWh to the electric coops and large megawatt level users and P8.50 to sma l l users. I will also straight finance the residential and small businesses,” LSP chairman Engr. Winston L. Mendoza told private investors and electric cooperatives officials during a “Lunch and Learn” presentation at a posh hotel RATES/PAGE 11
Urges gov’t to do more in job generation, poverty reduction THE Philippine Chamber of Commerce and Industry (PCCI), the largest umbrella organization of businesses in the country hailed the announcement of S&P’s c re d it upg r ade on t he Philippines following an earlier upgrade made by Fitch Ratings. “PCCI is very pleased w it h t h i s de velopment a nd we ha i l t he cred it ratings agencies that have acknowledged the reforms instituted by our government
to ensure that our economy remains resilient and stable,” Atty. Miguel Varela, PCCI president said. PCCI also noted that the new investment upgrade, days before the mid-term election is an affirmation of the economy’s bullishness at the peak of election season. The Chamber further cited that this gives premium to the kind of confidence that the international community has placed on the Philippine economy regardless of a
forthcoming political activity where in the past, analysts viewed as a risky process that attracts market speculation. “It is pleasantly surprising to get this upgrade at the height of the election season, only because in the past, any political activity we undertake can be subjected to market speculation resulting in investment risks or even uncertainty. This upgrade HAILS/PAGE 11
OVERLOAD. An overloaded motorized trisikad plies the busy highway in Brgy. Puerto, Cagayan de Oro City despite local ordinance prohibiting them to pass the national highway. photo by gerry lee gorit
POWER OUTLOOK
PSALM sets rebidding of power barges J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
AFTER two failed auction, the Power Sector Assets and Liabilities Management Corp. (PSALM) plans to conduct another bidding for the power barges within the second half of the year,
the state-run firm said in a statement on Monday. With the approval of its board of directors, PSALM said that it will “again bid out power barges (PB) 101, 102, 103 and 104 in the
second semester this year.” “After due consideration, t he PSA LM boa rd has approved the privatization of the power barges through another round of public OUTLOOK/PAGE 11
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NGCP clarifies issues on ASPA Refund By Mike Baños
The Nationa l Grid Corporation of the Philippines maintains it has not been remiss in its obligations with regards to the mandated refund of P392 million ordered refunded by the Energy Regulatory Commission (ERC). The NGCP submitted on April 17, 2013 its recalculation of t he overcha rge s for a nci l la r y ser v ices, in compliance with an order from the ERC received July 9, 2012. “[NGCP) was tasked to track down the consumption of each of its load customers, then figure out how much of t he overcha rges per billing period corresponds to each of its Mindanao load customers,” said Atty. Cynthia P. Alabanza, NGCP Spokesperson and Adviser for External Affairs in an email reply to Business World. “It is a not neither a simple nor a minor matter. And NGCP was very careful in making its calculations.” Ms. Alabanza clarified the refunds calculated do not include interest but only the amounts specified in the ERC order. Ms. Alabanza said NGCP also had to stress in its official statement how it did not earn any money in the transaction due to consumer’s confusion over the manner with which ancillary services (AS) is lumped with “transmission
charges” in power bi l ls issued by many distribution utilities. “NGCP really does not make any money on the provision of AS. Unlike other transmission services where we have to opportunity to make a return on our investment, there is no such opportunity with AS. We can only bill what we pay,” she added. D u r i ng t he t i me of the 2010 power crisis in Mindanao, Ms. Alabanza said Therma Marine Inc. (TMI) was the only private power producer which was offering AS. “It is NGCP’s mandate to procure AS. So we contracted with TMI. It is the ERC’s job to review the contract and ensure that it is “just.” Which is why there is a refund in the first place. The refund is proof positive that the system works.” The ERC granted the provisional authority for t he ASPA w it h TMI so t hat t he contract cou ld immediately take effect, and NGCP would be able to immediately procure the
AS the Mindanao grid badly needed. At the same time, the nature of the authority to collect AS charges was provisional in nature, so that after thoroughly reviewing the application, the ERC could decide to uphold the provisional authority, or make the necessary adjustments (which, in this case, it did), she noted further. Engr. David A. Tauli, engineering consultant at the Office of Rep. Florencio Flores, Jr. (2nd District Bukidnon) initiated the filing of the intervention with the ERC in behalf of the Cagayan Electric Power and Light Co. (CEPALCO) questioning the computation of rates for AS during his tenure as Senior Vice President for Engineering. “The determination of rates for ancillary services is not rocket science, and it would have taken just a modicum of intelligence on the part of the NGCP to detect the error in the proposed rates of TMI,” Mr. Tauli noted. “The error in the ASPA was the attempt by TMI to collect Capital Recovery Fees for money that they did not infuse into the power barges, in the amount of 60 million US dollars. Such large amount could not just be overlooked by NGCP in its review of the proposed Ancillary Services
Procurement Agreement (ASPA) with TMI? “NGCP does not have oversight powers over any energy industry player. It needed only ensure that the technical requirements for the AS were met, and that the proposed supplier was tested and accredited by it,” Ms. Alabanza said. “Whether the capital recovery fee alleged by TMI was correct or not is none of our business. We haggled best we could in a
market where supply was low, and demand was high.” Despite its contract with TMI, Ms. Alabanza said NGCP launched a campaign as early as 2011 to procure cheaper AS especially in areas where other suppliers were present and still continues to do so all over its franchise area. “Even if we don’t make money off AS, [NGCP CEO] Mr. Henry Sy, Jr. personally directed the management
to exert effort to negotiate for bet ter AS cont racts and to broaden the base of accredited suppliers.” However, Mr. Tauli insists NGCP could have undertaken due diligence with its AS contract with TMI if it chose. “At any time during the lengthy hearings at the ERC on the ASPA, the NGCP could have stepped in and testified that they made a mistake in entering into the ngcp/PAGE 10
A boat tanker supplies much needed fuel to Power Barge 117 in Barangay Sta. Ana, Nasipit in Agusan del Norte as the power barge facility works overtime on 6 May 2013 to help provide electricity to parts of Caraga Region. Many parts of Mindanao have been experiencing power outages the past few months because of the energy shortage plaguing the island. mindanews photo by erwin mascarinas
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Motoring 3 GM recalls 43,500 Volvo launches new V40 C H IC AG O - G e n e r a l Motors is recalling nearly 43,0 0 0 hybrid vehicles in the United States and around 500 in Canada to fix a defect that could cause a fire in the trunk, the automaker said Monday. The reca l l a f fects Chev rolet Ma l ibu E co models f rom t he 2013 model yea r a nd Bu ick LaCrosse and Rega l seda ns f rom 2012 a nd 2013 which are equipped with eAssist hybrid gaselectric engines. “The issue is the potential overheating of the circuit boards in the generator control module, but it does not involve the eAssist battery,” GM said in a statement.
GM said an overheating circuit board could lead to a loss of battery charge and cause the engine to stall. “In addition, there may be a burning or melting odor, smoke, and, in rare instances, a f ire in the trunk,” GM spokesman A l a n Ad ler s a id i n a statement. Most of the incidents occurred within the first 1,000 miles of operation, GM said and only t wo led to trunk fires. One was during an October screening in a dealership and the other occurred in March. No injuries or crashes were reported as a result of the defect, GM said.
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VOLVO Philippines has recently launched their allnew luxury 5-door, 5-seater hatchback dubbed the Volvo V40. In a statement, Volvo Philippines said that the V40 has the same characteristics of t heir la rger vehicles “wrapped in a sleek, compact package,” saying that it had combined “t rendset t ing design with class-leading driving dynamics.” L oi C onc e p c ion D e Gu zma n, assista nt v ice president for marketing services at Volvo, said that the V40 is a bold expression of challenging the conventional. “With great focus on the luxury look and feel of the car, the all-New Volvo V40
offers you a more engaging and personalized driving experience,” De Guzman said. “With keen attention to detail, the V40 also reflects Volvo’s promise of a car that is designed around you.” On t he ex terior, t he
h a t c h b a c k Vo l v o h a s “dynamically sculpted rear” set emphasize its widt h and muscular stance more, complemented by it “blacked out” lower area, creating an athletic, low and wide look. On the inside, the V40 has
a new fully graphic interactive dashboard with personalized layout a nd informat ion that enhances the intuitive and uncomplicated driver experience. “With the Volvo Sensus, a l l i n-ca r i nfota i nment settings are presented on a five-inch color screen in the upper part of the instrument panel,” the satement said. “The integrated screen makes it easy for the driver to keep his or her eyes on the road. All the functions can be operated from the steering wheel or via controls located directly below the color screen.” The hatch is powered by a four cylinder, 1.6-liter Volvo/PAGE 11
Brg y. Gat id, Sta. Cr uz, Laguna. The activity was to kick off the global partnership of Nissan Habitat for Humanity in the Philippines. The joint endeavor between Nissan and Habitat for Humanity dates back to 2005, but it has only been recently that this engagement was expanded to other markets including the Philippines. In total, Nissan Motor Company Ltd.
has donated US$1million to launch joint projects in India, Indonesia and the Philippines. The distribution activity in Laguna was immediately fol lowed by t he “Yout h Build Program” wherein NMPI employees joined an estimated 2,000 youth and corporate partners of Habitat for Humanity Philippines to rebuild houses in Navotas. I n t h e Ph i l ip pi n e s ,
N i s s a n ’s i n v o l v e m e n t includes the donation of one unit of our compact SUV, the X-TRAIL CVT, and in partnership with UMC, the engagement in “Ayos Bahay Challenge,” wherein around 300 emergency shelter kits will be provided for use in disasters and emergency preparedness training for the families located in disasterstricken areas. nissan/PAGE 10
Nissan partners with Habitat for Humanity to rebuild homes
NMPI employees led by Mr. Lee Junia (3rd from left) and Habitat CEO Charlie Ayco.
NMPI employees led by Mr Lee Junia (third from left) and Habitat CEO Charlie Ayco. Handout photo In a bid to enrich lives, employees of Nissan Motor Philippines, Inc. (NMPI) recently joined forces with representatives of Habitat for Humanity Philippines a nd Un i ve r s a l Mot or s Corporation to distribute shelter repair kits to disasterstricken communities in
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4 Comelec orders inventory of CdO election paraphernalia wednesday May 8, 2013
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By Froilan Gallardo
CAGAYAN DE ORO CITY –The Commission on Elections (Comelec) has ordered the inventory of all election paraphernalia in Cagayan de Oro City following allegations that poll forms, envelopes for voting and counting, pens and indelible inks were stolen Monday night. Comelec officer Raul Pabito handed Tuesday morning the order to city treasurer Marilyn Legaspi at the Cagayan de Oro City hall amidst the mounting political tension following the discovery of the alleged theft. “Please not if y t he different stakeholders and t his of f ice prior to t he schedule of said inventory and conduct the inventory in the presence of Comelec representative(s), citizens’ arm, candidates and representatives/watchers of political parties to erase doubts as to the integrity of the election paraphernalia,“ the order from City Comelec
chief Palmer Palamine said. Cagayan de Oro has a voting population of 277,931. Legaspi immediately ordered her personnel to notify all political parties, the National Citizens’ Movement for Free Elections (Namfrel) and the Parish Pastoral Council for Responsible Voting (PPCRV) to send their representative to witness the inventory scheduled at 2 p.m. today (Tuesday). She also provided the media with copies of the inventory report of the ballots and other forms of supplies that the City Treasurer’s Office (CTO) received from
the Comelec. Late Monday afternoon, tension ran high after a group of NAMFREL volunteers spotted three Cit y Ha ll workers spiriting out four boxes from the CTO. Fearing a repeat of the 2010 incident when ballots and compact flash memory cards for PCOS machines were found dumped at the sanitary landfill, the NAMFREL called in their volunteers to hold a vigil at the City Hall. Hundreds came, including suppor ters of M is a m is Oriental Gov. Oscar Moreno, who is running for mayor in Cagayan de Oro. The call elicited a similar response from supporters of reelectionist Mayor Vicente Emano, who is seeking a second term. Cit y Bud ge t of f ic er Grecilda Joson later came
Cagayan de Oro City treasurer Marilyn Legaspi (left) reacts as Comelec officer Raul Pabito reads her the order to inventory all election paraphernalia in Cagayan de Oro City on Tuesday, May 7. Comelec issued the order following allegations they were stolen or tampered. In between Legaspi and Pabito is Nestor Banuag, Namfrel head in Cagayan de Oro. mindanews photo by froilan gallardo
forward, claiming that the boxes contain her “personal effects.” But she refused to open the boxes unless there is a court order. Namfrel local chief Nestor Banuag said they welcome the Comelec order, saying
this would lower the political tension in Cagayan de Oro. “The inventory will allow us to see if anything valuable in the election paraphernalia is missing or not,” Banuag said. The inventory list provided by city treasurer Legaspi to
the media includes election forms, envelopes for voting and counting, indelible ink and other supplies from the Comelec. Banuag said they will also inspect if the 360 boxes containing the ballots are intact and not tampered.
300 more cops deployed around R-12 for May polls By Allen V. Estabillo
GENERAL SANTOS CITY — T he Pol ice Reg iona l O f f i c e ( P R O) 1 2 h a s deployed 306 additional police personnel around the region in preparation for the May 13 midterm national and local elections. C h ie f Supt . C h a rle s Calima Jr., Region 12 police director, said Tuesday the additional policemen were specifically deployed to help address election-related i nc ident s a nd s e c u r it y problems that might emerge in the run-up, during and
after the elections. A formal sendoff ceremony was held at the police regional headquarters in Barangay Tambler for the 306 police personnel, which comprised commissioned a nd non-com m issioned officers, he said. “These police officers were earlier given orientations and trainings specific for election duty,” the police official said. Calima said they assigned the additional personnel to the different police units
within the region’s four provinces and five cities based on their manpower needs and t he loca lit y’s security condition. Reg ion 12 comprises t he prov i nces of Sout h Cotabato, Sultan Kudarat, Sa ra nga ni a nd Nor t h Cotabato and the cities of General Santos, Koronadal, Tacurong, Kidapawan and Cotabato. He sa id priorit y was given to police stations covering areas that have hig h vot i ng popu lat ion and those with the most number of polling centers
and precincts. Ca lima sa id some of t he police of f icers were assigned to help secure the precinct count optical scan or PCOS machines that will be delivered to the area’s polling precincts on election day. In Region 12, the official said the Comelec central office has assigned 2,843 PCOS machines for t he upcoming elections. C om e l e c R e g i on 12 has established a total of 2,807 clustered precincts out of t he area’s 13,999 original precincts. The total
number of registered voters in the region is presently at 2,015,062. In the 2010 national and local elections, the region only had 2,769 clustered precincts and 1,987,427 total registered voters. Calima said the areas that were prioritized for the augmentation were Cotabato City and the provinces of North Cotabato and Sultan Kudarat. PRO-12 had listed them as possible areas of concern for the May elections due to the emergence of violent incidents these past weeks
that might be connected with the upcoming polls, he said. T he of f icia l sa id a l l police units in the region are now on full alert in preparation for the May 13 p olls. He sa id Ph i l ippi ne National Police Director General Alan Purisima had canceled police vacation leaves to ensure maximum troop deployment. Ca lima added t hat the full alert status will remain in effect until all election-related activities are completed.
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PH’s ratings upgrade won’t change debt plan THE Philippines has no pla ns for a net foreig n issuance of bonds in 2013, even after being propelled to full investment-grade status with a second upgrade on Thursday, and will still meet almost all of its funding needs for the year in the local market, Treasurer Rosalia de Leon said. But she said the lower cost of borrowing that will come from the upgrade could see the country undertake liability management to get rid of some sovereign debt outstanding. “We have skipped the opening curtain this year, and because of the liquid tone of t he ma rket, we continue to finance in the local market,” she told IFR in an exclusive interview at the Asian Development Bank meeting after the upgrade was announced. “For 2013, all our funding will be coming from onshore.” Her remarks came less than an hour after Standard & Poor’s upg raded t he Republic of the Philippines to BBB- from BB+. Following a March upgrade from Fitch to BBB-, the sovereign has two IG ratings and is now eligible to be part of the Barclays US Investment Grade and Global Aggregate and Asia Pacific IG Aggregate indices, as well as others from Citigroup and JP Morgan. It is still unclear what weighting the Philippines might have in the key indices, but tens of trillions of dollars are benchmarked against these indices—and funds that benchmark against them would therefore have to buy Philippines sovereign debt (if they do not already own it) to reflect the underlying composition. “Given the two upgrades, the Philippines can also be included in the global index,” the treasurer said. “In terms of the demand for RoPs, there will be more interest—and it also give us a lot of interest from crossover investors who are not (only) investing in IG.”
The government sticks to its debt plan despite ratings upgrade.
But she said that there was no reason to change course from the policy—replacing shorter-term high-coupon debt with lower-yielding longer term bonds—that has helped escort the Philippines up to full investment-grade status. Announcement of the latest upgrade boosted prices of the sovereign’s bonds in the secondary market. The outstanding 2034s jumped almost US$1 in price terms to 140.75 within two hours of the upgrade announcement. The 2032s and 2030s moved similarly, up to 136.65 and 172.85, respectively. The higher prices mean that yields on bonds from the Philippines, which already were a mong t he lowest for sub-investment grade sovereigns in the world, will drop further. Expensive to buy But as those bond prices have risen in tandem with the country’s steady climb up to investment-grade, it has of course become that much more expensive for the sovereign to buy back the debt. For example, the outstanding 2030s have a coupon of 9.5 percent but currently offer a yield of 3.64 percent. To buy them back ahead of their call date, the sovereign would have to pay the market price of nearly 173.00. In November, the sovereign c a r r ie d out a l i a bi l it y management exercise, buying back $1.5 billion in high-
coupon bonds using treasury funds and the proceeds of a $750m-equivalent offshore peso bond. It’s not clear how the Philippines could undertake a similar operation in the current climate. “Prices right now, they have hit the roof,” De Leon said. “So we have to see if we can do that exercise we did last year.” But even if there is new issuance in the offshore market to fund a buyback, De Leon stressed that the goal is to continue to issue debt to foreign investors only in local currency—which has been the country’s policy over the past few years. “If ever we go back to the market, the global peso note is one structure we will continue.” Meanwhile local investors look like they may be the only ones to get a chance at d ol l a r- d e nom i n at e d sovereign paper. De Leon suggested that the Philippines may reopen the $500m bonds due in 2023 that it issued only to local investors in November last year, or go ahead and create a new local dollar benchmark. Last year’s bonds were i s s u e d t o c o nt r o l t h e appreciation of the peso. Philippine banks tend to have very high dollar liquidity - due to the high level of remittances from Philippine nationals working abroad - so the creation of local sovereign dollar bonds has debt/PAGE 11
1Q borrowings drop as gov’t keeps to regular T-auctions THE government borrowed substantially less from the financial markets in the first quarter, as it stuck to regular Treasury auctions for its funding requirements. According to the Bureau of Treasury, gross borrowings -- which exclude the impact of any payment made on debt maturing in the three-month period -- fell 75 percent to P46.345 billion last month from P184.731 billion in March last year. This brought the first-quarter tally to
P126.189 billion, down 62 percent from the P325.226 billion last year. The huge decline can be explained by the P179.8 billion that the government borrowed through the sale of retail Treasury bonds (RTBs) in the domestic market last year. Without a repeat of the RTB this year, domestic commercia l borrow ings amounted to only P122.959 billion, lower than last year’s P242.159 billion.
Fore i g n b or row i n g s accounted for the remaining P3.23 billion in fresh debt incurred in the first quarter. This was 96 percent lower than the P83.067 billion borrowed last year. All of the fresh foreign debt incurred in the first quarter was in the form of official development assista nce (ODA) or concessional loans from the country’s foreign donors. Of the total new debt incurred, P2.733 billion drop/PAGE 11
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Residents chase Moreno’s team
ESIDENTS at the city’s relocation sites in Cagayan ris iaz de Oro Cit y last Sunday reportedly chased candidates under the Liberal Party ticket of Oscar Moreno. Moreno’s party reportedly scampered for safety as bolo wielding residents ran after them. Fortunately, no one was hurt. Unconfirmed reports said that survivors of the Sendong tragedy were angered when LP candidates talked about Emano’s alleged neglect at the height of Sendong on Dec. 17, 2011. They said that survivors recalled the physical and emotional pains they suffered when LP candidates start talking about the Sendong tragedy. Instead of talking about hope of the future or a promise of a brighter day ahead, Moreno’s group reportedly took turns in lambasting and blaming City Mayor “Dongkoy” Emano of the tragedy. They talked about the “recall campaign” at the time when people were nursing from the loss of their loved ones and the destruction of their properties. Perhaps, Moreno’s team was telling the people at the relocation site that they (LP) were responsible for the distribution of free houses and lots to Sendong victims. Perhaps, Moreno’s group did not realize that using the Sendong tragedy in their campaign to discredit “Dongkoy” would incite people’s outrage. Honestly, Oscar Moreno and the Liberal Party have no moral ascendancy to talk about the tragedy brought about by Typhoon Sendong in Cagayan de Oro City. The people know pretty well that, right from the start, the Aquino administration has not done so much to bail the victims of Sendong out of misery. Everybody remembers when Pres. Aquino came to Cagayan de Oro City two days after the Sendong disaster. On that day, Pres. Aquino gave only P 50 million to the city government as an aid to typhoon victims. Aquino then proceeded to Iligan City where he extended P 300 million for Sendong victims there. Mayor “Dongkoy” Emano did not complain of the diaz/PAGE 7
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Making memories
hink a minute…A father once asked his adult children to tell him their happiest memories from when they were kids. The father expected his kid’s happiest childhood memories to be the big, special trips like when their family went to Disney World, or some special expensive toy they’d received. But this father was so surprised that those were not the things his children remembered best. Instead it was the very simple, every day things. Like when their dad would get on the f loor and wrestle with his 4 kids. Or when their parents would sit and tell them stories and jokes in the evening, so they all would laugh together until their sides hurt. Or the times they would sit around and sing songs together, or they all went into town for ice cream cones. They say: “The best things in life are free.” So we don’t need a lot of money to make happy memories for our kids. Even if we buy that latest, expensive toy for our children, sooner or later they go back to simple homemade fun. We just can’t bribe our kids by buying our way out
ATTY. MARIO T. JUNI
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of our responsibility as their Mom and Dad. A Minute Giv i ng ou r ch i ld ren By Jhan Tiafau Hurst money, toys, even the best schools and privileges, is never a true substitute for giving them our time. We must spend time with them to satisfy their need to be close to us. That’s what the richest, happiest memories are made of! So even if we work at a job every day, we can still fill many of our evenings and weekends with fun, simple things to do as a family. If you’ve forgotten to have fun with your kids daily, won’t you ask Jesus Christ to forgive you for failing to give your children the time and love they need? Then ask Jesus to take full control of your heart, so you can start changing to become the father or mother your kids need every day. Just Think a Minute …
THINK
Marketing as a symbolic value
F
ilipinos perceive consumption as an activity with a symbolic value. As Baudrillard has conveyed, attaching symbolic value to consumption is not a passive activity, but an active system of sign-value production. In this system, choices, self-image, and desire imbue products, and the activity of consumption, with meaning. In the Philippines, for example, the meaning of goods and symbols (which collectively drive consumption) are constituted using both local and global ideologies. Filipinos consume for four main reasons. The first is, of course, necessity. The second reason is the belief that their purchases will fulfill some sort of familial duty. In other words, shopping, or more specifically giftgiving, serves as a vehicle for the expression of love towards one’s family members, friends, relatives and colleagues. Filipinos also shop as a way of assessing consumer prices and product variety (i.e., “window shopping”). Most Filipinos purchase goods (especially the costly electronic ones) only after having comparison shopped and consulted with “experts.” The fourth, and final, reason why Filipinos shop is out of compulsion. Like many global shopaholics, compulsively-consuming Filipinos usually realize that the acquired object, product, or service loses its glitter once it has been purchased. The malling phenomenon, which has increased accessibility to new products, has undoubtedly exacerbated this condition, especially among middle and upper class individuals with disposable income. In the Filipino context, consumption best applies to the burgeoning youth consumer culture which has emerged out of the malling phenomenon. Consumption has shaped the identities of many Filipinos
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in their teens and twenties, and has also impacted the B uttresses ways in which they engage in By Amparo Pamela Fabe social relationships. Filipino university students spend an average of thirty percent of t heir mont hly a l lowa nce or i ncome on high-tech products such as computers, personal digital aids (PDA), cellular phones and compact disk players. About ninety percent of the students surveyed at the University of the Philippines have personal computers, five percent own PDAs, ninety percent have compact disk (CD) and/or MP3 players and nearly twelve percent own portable CD players. Increasing expenditure on Internet service and mobile telecommunications also reflects their pursuit of high-tech products. Designer brands play an important role in the consumption of commodities because they not only convey one’s identity to the outside world, but also bridge the gap between the local and the global. Young Filipinos tend to be more loyal to foreign brands than to local ones, with young Filipinos preferring Nokia cellular phones, Nike sportswear, Speedo swimwear and Tag Heuer watches. In addition to brand name, price and product function also constitute important factors inf luencing student purchases. Young consumers demand attractive packaging and product recognizability, both of which play an integral fabe/PAGE 11
Victory in defeat
HAT may sound funny, or a literary oxymoron, but in the lives of saints, in the life of Christ himself, yes, there can be victory in what may largely be considered as defeat. Just look at Christ’s own crucifixion and death. That event, from all human angles, could only mean defeat, a crushing defeat. But it was what led to his resurrection. It was what paid the price for all our sins to attain our redemption. From the spiritual angle, it can only mean victory. We need to look more closely at this very mysterious phenomenon, so that we can be more in line with God’s logic and ways, rather than remain in our very limited, time-and-earth-bound understanding of things. We need to expand and deepen our perspectives to accommodate this wonderful spiritual and supernatural reality offered to us. Of course, for this to happen, we have to pray, meditate, be humble enough to ask for God’s grace, for this is a truth of faith that can only enter our mind and heart when faith that requires humility is alive in us. Truth is, in this life of ours here on earth, often described as a “vale of tears,” we cannot help but experience contradictions, difficulties, mistakes, insults, ridicule, and all the other forms of failures. This is part of our human condition. It would, however, be naive on our part if we choose to get stuck with the merely earthly and temporal aspects of our life, when the reality that governs us includes the
HINTS
spiritual and supernatural that requires us to use our faith, and Traces more than just our senses and By Fr. Roy Cimagala intelligence. With faith operative in us, we may experience all sorts of weaknesses, but we still can manage to have hope and to wage an appropriate battle to tackle them. With faith, we can avoid falling into the paralyzing state of cowardice. We can spring into action. Faith lets us share in the power of God who knows how to draw life from death, rest from hard labor, light from darkness, good from evil. We have to learn how to access this reality that is abundantly offered to us by God himself. With faith, we can echo St. Paul’s: “In all things, let us exhibit ourselves as ministers of God, in much patience, in tribulation, in necessities, in distresses...as dying, and behold we live; as chastised, and not killed; as sorrowful, yet always rejoicing; as needy, yet enriching many; as having nothing, and possessing all things.” (2 Cor 6,9-10) With faith, we would know the value and meaning of pain, suffering and trials. These are sources of purificacimagala/PAGE 10
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PH running against time to enhance ASEAN competitiveness By ROMELDA ASCUTIA Contributor
THE Philippines is doing the right things in preparing for the ASEAN economic integration, but its efforts should be redoubled to ensure it is ready for the impact of a single regional market two years from now. Local manufacturing and expor ting of f icia ls underscored at a recent business forum the urgency for a globally competitive Philippines, saying bluntly that the country does not seem ready for the ASEAN Free Trade Area in 2015. Ra mon Kabig ting, executive director of the Ph i l ippi ne Automot ive Competitiveness Council, noted the rapid chain of e vent s le ad i ng towa rd regional economic unif ication, even as he warned that the Philippines could be relegated to the periphery if it failed to keep up with developments. Junie del Mundo, CEO of The Stakeholder Relations Firm, sees two key areas for i mprovement . For companies, they have to increase internal efficiency, innovation, and creativity. For the administration, corporate governance and reg u lat ions need to be strengthened. Kabigting said that the government must make it a point to deliver on its commitments on schedule. E x e c u t i v e o rd e r s , fo r example, have to be “issued on time and implemented on time” in order to avoid general confusion and bad relationships, he said.
Likewise, an inventory of laws and regulations that impede integration needs to be done, he added. Rom me l G ut i e r re z , president of the Chamber of Automotive Manufacturers of the Philippines, expressed concern that its neighbors seem to be preparing better than the Philippines for the launch of the ASEAN E conom ic C om mu n it y (AEC). Javy Yu v a l l o s , pre sident ia l appoi ntee to the ASEAN Business Advisory Council, said a survey they conducted on rating ASEAN members’ competitiveness showed the Philippines has been relegated to the “bottom half ” of the list, landing even behind Vietnam. He listed corruption, poor infrastructure, high cost of power, and licensing red tape as among the factors that undermine the nation’s competitiveness. At the same time, Sergio Ortiz-Luis, president of the Philippine Exporters Confederation, Inc (PHILEXPORT), urged the government to refocus its attention on supporting the struggling manufacturing and agriculture industries. He said their declining performance has had an adverse impact on GDP growth and employment a nd w i l l l ater i mp a c t t he cou nt r y ’s reg iona l competitiveness. Similar support should be given as well to the asean/PAGE 11
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Globe Labs and Voxeo Labs successfully launch Voice APIs in RP Over 100 developers attended the recently held Globe Labs Developers Day : Power up with Voice!, giving them a preview of the new Globe Labs Voice API, powered by Tropo, where they learned how to build and launch apps with voice capabilities that can be easily integrated to the popular programming languages of Ruby, PHP, Jav a s c r ipt , P y t hon , and Groovy. Globe Telecom’s partner, Voxeo Labs, was on site to conduct the workshop, including Voxeo Labs Chief Technology Officer Jose de Castro and Chief Evangelist Johnny Diggz. “It was an amazing event
organized between Globe and Voxeo Labs, the energy from the developers was intense, and the level of innovation astounding. In a few hours of coding, we saw demos with everything from a voice-based event management system to an app that reads you the latest posts from Reddit.com,” said Jose de Castro. “We’re very happy with the event, it was a great success, demonstrating the creative talent of the Philippines with voice APIs. Our previous voice API was very difficult to deploy so we decided to look for other ways and found the solution with Voxeo Labs through their platform called
Tropo which is very easy to use,” said Greg Igaya, head of Globe Strategic partnerships and innovation for Digital Media. Other demoed apps included a student/teacher scheduling system, real-time currency converter, and a customizable sur vey app running on Heroku. The functionality exposed by the voice API includes: » Ma k e a C a l l : A n application which dials a sip address or better yet an actual phone number. Calls to more than one number or sip address can also be made with just two lines of code. » Call Control : With the
API, a call can be routed to another phone number or sip address, it can be rejected without even answering or even have other callers join in for a conference call. » Speech Recognition: Not just the tone touch input. The API gives the caller the capability to talk back to the application by simply telling the API what the expected words are as the valid answer. » R e c ord i ng : G oi ng beyond speech recognition, the API has the capability to transcribe the caller’s responses to text and have it saved to a database, or even record responses in part or whole as audio files.
Voxeo Labs Chief Technology Officer Jose de Castro gives young developers hands-on training on the use of voice APIs during the Globe Labs Developers Day mini hackathon.
FUN RUN. Members of the 52nd Engineering Brigade of the Philippine Army headed by their commanders, Col. Reynaldo G. Mutiangpili and Maj. Michael N. Asuncion, along with 1st Lt. Allan S. Fuentes, joined the “Run for Secure and Fair Elections 2013,” organized by the Governance and Leadership Institute of Xavier University, in partnership with Comelec and Namfrel, held last Sunday, May 5. The Army officer were joined by their candidate-soldiers (CS), who placed in the 10-K and 5-K category. The 10-K winners were CS Pabillaran – 4th placer; CS Sabobo – 5th placer; CS Linatoc – 6th placer; and CS Betonio – 10th placer. In the 5-K run, CS winners were CS Tugonon – 3rd placer; CS Galacio – 4th placer; CS Buyate – 5th placer; CS Tacaisan – 6th placer; CS Ambos – 8th placer; and CS Nob – 9th placer. Ms. Nikee May Louise A. Sandoval, Bb. Manolo 2013 First Runner in Manolo, Fortich, Bukidnon, also participated in the Army’s team. The said fun run was aimed to mobilize the whole city in an awareness campaign of Filipinos’ constitutional right of suffrage and at the same time advocate for clean and honest elections this year. The event was a fun run for all ages, amateur or professional. It was for the benefit of Namfrel volunteers who will be safeguarding the votes for the upcoming elections, as well as for the capacity development projects of XU-GLI after the 2013 elections. text & photo by checai gamo & daisy agurob
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DAR distributes agri lands to 969 farmers in R9 By Jonathan L. Mayuga
ZAMBOANGA CITY—The Department of Agrarian Reform (DAR) has distributed 1,388 hectares of land to 969 farmer-beneficiaries in Region 9 (Zamboanga Peninsula or Western Mindanao). According to Agrarian Reform Secretary Virgilio de los Reyes, the farmers were awarded certificates of land ownership awards (CLOAs) for sma l l la nd hold i ngs in the municipalities of Godod, Dapitan, Polanco, Sindangan, Manukan and Roxas in Zamboanga del Norte province; Pagadian City and the towns of Ramon M a g s a y s a y, Ta m b u l i g , M i d s a l i p, D u m a l i n a o , Kumalarang, Dinas, Guipos, San Pablo, Tigbao a nd Vic en s o S a g u n i n Zamboanga del Sur province; and the municipalities of
Buug, Diplahan, Malangas, Mabu hay, A l ic ia , Siay, K a ba s a l a n, Na ga , Ipi l, Titay, Tungawan and R.T. Lim in Zamboanga Sibugay province. Aside from the CLOAs, proof of ownership of the Comprehensive Agrarian Reform Program (CARP)covered lands, the farmers were also provided with support services in the form of harvesters, hand tractors, reapers and threshers under t he Agraria n Reform Community Connectivity a nd E conom ic Suppor t Services (ARCCESS).
The farm equipment were distributed to two agrarianreform benef iciaries’ (A R B s) o r g a n i z a t i o n s : the Kumalarang Farmers Irrigators Association in Zamboanga del Sur that services 1,956 ARBs in the 26 villages of the province’s District 1, and the Dumingag Organic Farmers Credit and Service Cooperative in the Salug Valley Cluster that services 2,852 farmers in the nine villages of Zamboanga del Sur’s Dumingag town. ARCCESS is an alternative rural development approach wherein support services provided by the DAR are delivered directly to selected ARB organizations. De los Reyes said the distribution of the lands in only the beginning of the support services the farmerbeneficiaries will receive dar/PAGE 10
COMPLETE CARPER. Farmers belonging to the organization Task Force Mfrapalad (TFM) march on the streets in Manila on their way to Malacanang to demand from President Aquino to complete the distribution of agricultural lands to farmer beneficiaries under the Comprehensive Agrarian Reform Program with Extension and Reforms (CARPER). photo courtesy of tfm
Landbank, IRRI offer scholarhips for agriculture students T H E L a ndba n k of t he Philippines is partnering w it h t he I nter nat iona l Rice Research Institute to give deserving children of agrarian reform beneficiaries (ARBs) to pursue a college degree in agriculture through a scholarship program. The scholarship program, ca l led Gawad Pag-aara l Tungo sa Maunlad na Bayan (Gawad-PATNUBAY), offers grants to 50 scholars. Each scholar is entitled to a 100% tuition fee subsidy, a monthly stipend, a book allowance, and a uniform a l lowa nce. He/she w i l l also receive employment assistance upon graduation. Under the agreement, I R R I sha l l ad m i n i ster, manage, and implement the program in coordination with the partner-universities and the Landbank Countryside Development Foundation Inc. which will handle the monitoring and validation of the status of scholars. Landbank initia l ly identified five universities as partner-schools the program this coming school year, namely the University of the Philippines-Los Baños Campus, Centra l Luzon State University, Visayas State University, Central LANDBANK/PAGE 10
PHL exports rice to Dubai
ABACA DISEASES. An Abaca farmer sprays chemicals on his Abaca plants to insulate it from diseases. photo courtesy of fida
MANILA—The government is pushing to export fancy rice va riet ies, w it h t he initial shipment of these to Dubai in the United Arab Emirates (UAE) last Sunday representing a modest step by the Philippines to enter niche markets for the staple. Last year records of the National Food Authority (NFA) showed t hat t he country was able to export 900,000 kilograms of cereals (corn, rice and rice seeds), with rice seeds comprising the bulk. The biggest sellers of rice seeds were SL Agritech, Syngenta and Pioneer. T he big ge s t volu me
expor ted was 24,000 k i log r a m s of hei rlo om rice from the Cordillera Autonomous Region (CAR) to the United States. To spur such exports, Agriculture Secretary Proceso J. Alcala created the Task Force on Rice Exportation on January 14 under Special Order 43 to craft policies for exporting rice to niche markets, setting standards for quality and looking for production areas. This task force is led by Agriculture Assistant Secretary and National Rice Program (NRP) Coordinator Dante Delima. PHL/PAGE 10
THE Philippines’ premier ag ricu ltura l journa lism competition, t he Bright Leaf Agriculture Journalism Awards (BLAJA), is once again inviting entries for the 7th staging of the contest for the best agriculture stories and photos in the tri-media. David Isaac Buenaventura, project director, said during the recent media briefing at the Mallberry Suite Hotel that they are looking for the best agricultural stories and photos in print, radio, and television with special attention on their impact on current agricultural issues and best farming practices on environmental safety and crop sustainability. The BLAJA, which has become the most anticipated celebration of the country’s best ag ricu lture stories and journalists, is open to all professional Filipino journalists residing in the Philippines and at least 18 years old at the time of the submission of entry. BL AJA g ives specia l attention to the stories’ impact on current agricultural issues and the
best farming practices on environmental safety and crop sustainability. This year, the contest aims to heighten tri-media practitioners’ participation by actively searching a bigger number of nominees from more agricultural provinces whi le at t he sa me t ime sustaining and strengthening ties with previously covered provinces. Buenaventura said that this year, the judges revised some mechanics, foremost of which is the selection of the winner of the Agriculture Story of the Year, which was won by Cagayan de Oro City-based journalist Bong D. Fabe for two consecutive years during the 4th and 5th BLAJA (2010 and 2011). Unlike before in which journa lists ca n direct ly send their entries for this particular category, this year, the winner of the Agriculture Story of the Year will be selected from the winners of t he fol low i ng mi nor categories: Best Agriculture TV Program/Segment; Best Agriculture Radio Program/ ENTRIES/PAGE 10
FIDA hopes to win war against abaca disease 7TH BLAJA now accepting entries Q U E Z O N C I T Y—T h e Philippine abaca industry is banking on the work of scientists to develop trees that are resistant to major abaca diseases and thus assure the countr y’s continued domination of the global market for the commodity. Cecilia Gloria Soriano, chief of the Fiber Industry Development Aut horit y (FIDA), said Dr. Leny C. Ga lvez, a sta f f member who was trained at t he University of NebraskaLincoln, has succeeded in developing broad spectrum virus resistance (BSVR) in plants using oligoadenylate synthetase (OAS) phosphates in association with Drs. Z.
Zhang and Dr. A. Mitra. Galvez stressed that OAS is animal-based, making her scientific breakthrough technically transgenic since it requires using animal processes to develop the immunity of various plants from viral attacks. OA S , a c c o r d i n g t o Galvez, is comprised of “two enzymes, 2.5A synthetase that produces 5’-phosphorylated, 1’, 5’-linked oligodenylates [2-5A] upon activation by a double-strand RNA, and a 2-5A-dependent RNase L.” Galvez explained that the efficacy of the BSVR developed and propagated through animals—primarily rabbits—has been tested
“The discovery of agriculture was the first big step toward a civilized life.” -Arthur Keith
and proven among soybean, tobacco and wheat farms in Nebraska and elsewhere. On the other hand, Dr. Ver m a ndo M . Aqu i no, of the National Institute for Mole c u l a r Biolo g y and Biotechnology at the University of the Philippines in Diliman (UP Diliman), and his team reported their success in identifying and cha rac ter i zi ng t he t wo bunchy top viruses (BTVs) attacking abaca, as well their differences from the viruses hitting bananas. Aquino said this has led to the development and production of the antiserum to the recombinant protein, making it possible to contain infestation in abaca stands. Fides Angeli DLC Zaulda, a UP research assistant with the FIDA-UP Diliman Abaca Projec t , a lso d isc u ssed the characterization and expression of the coat protein gene of banana bract mosaic virus infecting abaca and the means to increase the production of the polyclonal fIDA/PAGE 10
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DAR... from page 8
from the government. He a lso said t he DAR, the Department of Agricu lture (DA), La nd Bank of the Philippines and other government are c o ord i nat i ng w it h one another to ensure that the program’s beneficiaries will have a better quality of life after receiving their land titles. De los Reyes said his department is now following a method wherein during the processing of the CLOAs, different support services w i l l a lso be faci l itated help streng then farmerbenef icia r ies a nd t hei r organizations. (BM)
FIDA...
producing the serum needed by Fida laboratories for use in experiments meant to contain the BTV assaulting abaca trees. Soriano said Galvez also collaborated with Zhang and Mitra in developing a method for “transitive gene silencing using direct repeat induced gene silencing.” Under this system, RNA interference is used to limit, c ont r o l or e m a s c u l at e powerful viruses using their segments to lull, dissipate and dismantle the disastrous elements, including proteins, that cause the disease to spread among abaca trees. Repeated introduction of different segments of viruses actually silenced the vectors that instigate the disease, Galvez said. (MNB/BM)
from page 8
Entries...
antiserum for its control. G a l ve z , a Fu l br i g ht scholar, argued that she is not really deeply concerned about the criticisms of detractors who have opposed using the genetic traits of animals to solve the problems of plants, particularly those considered to be food crops. She is now engaged in the varietal development of disease-free abaca. Ga lvez noted t hat t he appl ic at ion of t he biotechnolog y technique will be focused on abaca a nd ad m it te d t hat she has been rather busy with
Segment; Best Agriculture News Story (national and regional level); and Best Agriculture Feature Story (national and regional level). Prices for major awards (Agriculture Story of the Year, Tobacco Photo of the Year, Agriculture Photo of the Year, and Tobacco Story of the Year) are P50,000 cash, iPad-Mini, Philippine Art Awards (PAA) artist trophy and all-expense paid Asian trip. For the minor categories, winners will get P20,000 cash, iPad-Mini, PAA artist trophy and Asian trip.
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Entertainment A special category, the Oriental Leaf Award—which is equivalent to the Hall of Fame—is given to the agriculture journalist who won in the same category for three consecutive years. Fabe should have been eligible for this award this year had he won the Agriculture Story of the Year during the 6th BLAJA (2012). But he was beaten for the top prize by his colleague in the Business Mirror, Baguio-based Malou Guieb, by just a few points. Cozoz, Inc., this year’s BLAJA secretariat, is now accepting entries. Entries should be published, aired or broadcast locally between September 1, 2012 and August 31, 2013. Additionally, it should be written in English, Filipino or any Philippine regional dialects. (BDF)
PHL... from page 8
Sunday’s export of fancy rice varieties to Dubai was made due to the demand of the Filipino community t here and t he ef forts of the Vegetable Importers a nd E x por ters Vendors Association (Vieva). Vieva will be exporting 20 metric tons (MT) of Jasponica rice to Dubai on May 9. The rice will be sourced from SL Agritech’s farm in Talavera town, Nueva Ecija province. In addition, 15 MT of black rice will be shipped to t he UA E cit y by t he Don Bosco Foundation for
Sustainable Development, based in M’lang town, North Cotabato province. It will also send 20 MT of white and long grain aromatic rice to Dubai this month. Between September and October this year, 30 MT of Cordillera heirloom rice will be exported to the US through the efforts of a nongovernmental organization called Rice Inc. and the NRP. (BM)
Landbank... from page 8
Mindanao University, and the University of Southern Mindanao. “We are grateful to have IRRI as our implementing pa r t ner for t he col lege scholarship program. We are confident that through this program, we can help provide a solid base of education for the next generation of rice scientists and agri-preneurs and infuse much-needed fresh blood into the country’s agriculture and cooperative,” said Gilda Pico, Landbank president and CEO. (BDF)
NGCP... from page 2
contract with TMI. If they did, the error could have been corrected sooner than the two years that it took the ERC to finally decide that, yes, the ASPA will result in overcharging for ancillary services from the TMI power barges. The NGCP did not intervene, but supported TMI
all throughout the hearings at the ERC,” he added. Although it is part of NGCP’s mandate to procure AS, Ms. Alabanza said it does not have the authority to “detect the error in the proposed rates of TMI. That would mean investigating the books of TMI for this purpose,” she said. “NG CP i s a pr iv ate company. We do not have the authority to look into the books of another company even if we have cause to do so. Our power is limited to contracting for goods and services, and deciding whether to accept goods or services at the price it was offered. At that time, in a situation where the grid is in dire need of AS, we procured what we could. If we had not procured the AS as we did, the grid would have been vulnerable to collapse, and we would have failed in our mandate,” she added. She further clarified that the process for provisional/ final approvals and refunds was created by the ERC, not NGCP. “We just follow the rules. Mr. Tauli should take this up with the ERC, and we will gladly comply with any revision the ERC may make on it rules.” she said.
Nissan... from page 3
“We are proud to support Habitat for Humanity in its efforts to make build homes, communities and hopes,”
NMPI VP for Marketing, Sales & After-Sales Lee Junia said. “This partnership reinforces our global vision to improve the quality of life in the communities in which Nissan operates and provides an opportunity for our employees to make a difference in the very neighborhoods where they work.” Lee adds that it is but natura l for Nissan and Habitat for Humanity to forge a partnership, since both corporations complement Nissan’s vision of ‘Enriching People’s Lives,’ a cornerstone of the Blue Citizenship approach to creating a sustainable society. “For NMPI, t his c om m it ment h a s b e en ingrained to us for the past 30 years – just recently, we marked our third decade of operations in the Philippines. In shifting the way Filipinos move, we have gone a long way since the establishment of our first plant in Quezon City in 1982, until today, with our state-ofthe-art Nissan Technopark in Sta. Rosa, Laguna.” The recent event was just one step towards building homes, communities and hope. Together with Habitat for Humanity Nissan Motor Philippines, Inc. and Universal Motors Corporation are pledging to its customers, employees, shareholders and the communities where they do business to deliver engaging, valuable and sustainable mobility for all.
Today’s HOROSCOPE AQUARIUS (January 20 – February 18) -You can definitely make your own choices in life and don’t need anyone to tell you what to do. If you choose to entertain other’s advice then so be it, but you need to make your own choices. Just make sure if someone tries to strong arm you into doing what they want you to that you stand your ground and don’t back down.
GEMINI (May 21 – June 21) - You will need to exercise patience as you fight yourself from pressing the fast forward button on love. Each stage in a blossoming relationship is important to its longevity and if you attempt to dive in head first you may not like the results. Explore each phase of the relationship and take your time actually getting to know your partner.
LIBRA (September 23 – October 22) - Although you may not have the ability to control every fiscal circumstance in your life you can make certain decisions. The best way to bolster your bank account is to reduce your expenses. The easiest way to accomplish that is to avoid making impulse purchases and stick to your budget.
PISCES (February 19 – March 20) - Be very careful about withholding information from anyone. You may not think certain details are important to impart, but if you don’t and word gets out anyway you will not be shown in your best light. You may not intentionally be deceptive, but it may appear that way if you aren’t totally forthcoming from the start.
CANCER (June 22 – July 22) - It is time to refocus your attention on the present. Each step you take today determines your future success. Organize your thoughts and make a plan of action you can begin utilizing this moment. There is no better time to act than right now. Accept responsibility for what happens from this point forward and act accordingly.
SCORPIO (October 23 – November 21) - A connection today between your ruling planet Pluto and communication planet Mercury can open your eyes to your truest feelings. You know and accept yourself and if you make an attempt to become aware of your feelings toward someone else you can use this energy to share your feelings.
ARIES (March 21- April 19) - When it comes to managing money particularly between yourself and others meticulous record keeping is essential. If there is ever a question as to how much money changed hands you will have no doubt about your ability to access the data. When you develop a reputation for sound fiscal practices, it will at times precede you.
LEO (July 23 – August 22) - On your ascent up the ladder of success there may be a few haters trying to trip you up. Keep your head focused on the direction you’re traveling in and invest all your available effort. You’ve got a team of staunch supporters ready and willing to encourage and support you. Rely on them to assist you in keeping your focus and recognizing your success.
SAGIT TARIUS (November 22 – December 21) - An unexpected occurrence at work can switch circumstances instantaneously. A new and exhilarating opportunity can come out of the clear, blue sky and land right in your lap. Of course there will be some obstacles to overcome, but the chance to excel appears to be a promising one.
TAURUS (April 20 – May 20) - You are in the midst of a crucial phase of success. You will need to make certain the choices you make now reflect your desire to reach your intended destination. There will be no shortage of responsibilities and you will want to handle them quickly. There looks to be love and social pursuits also on the agenda so get your obligations out of the way first.
VIRGO (August 23 – September 22) - Change of any kind can be difficult to adjust to and usually takes some sort of time period for you to be accustomed to new circumstances. During this period you may be a bit uncomfortable with your new surroundings or situation, but trust that it won’t be more than you can handle.
CAPRICORN (December 22 – January 19) - The art of delegation is one you are highly adept in and over this next period you will need to utilize it. Not everyone can be a leader and since you do assume that role you should make the most of it. You can rely on a handful of others to complete a task up to your standards. If no one is available it may be necessary to teach someone new.
CROSSWORD puzzle
CIRCLE A WORD On course
aintree ascot ayr bath carlisle cartmel catterick
doncaster edinburgh epsom fakenham goodwood hexham kelso
leicester newbury newcastle new market perth plumpton redcar
across 1. A s se r ted a s va l i d, if f ra m ed incorrectly (8) 5.Urges the provision of layers (4) 8.Change course when the vicar out East returns (4) 9.Dance for girl musicians (8) 10.I’m sure I am in a sort of trance (7) 13.Later if may be wide-awake (5) 14.Led a postman to experiment with marzipan (6,5) 18.As unstable as the mountains (5) 19.Lee lets her run wild (7) 23.And so I repaired to an ancient place to find an ancient beast (6) 24.Restoration mark found in most etchings (4) 25.Food that upset Eric (4) 26.Stable measures on new order for the best type of binding (4-4) DOWN 1.It is least heeded when most needed, the say (6) 2.Refer elsewhere for pardon (5) 3. Af r ican people l i ke mo r ni ng rising, one concludes (5) 4. What the irate husband said
when he found a hole in his sock (4) 6. Serious way to become most sober (7) 7.Seated somehow composed (6) 11.Try to disrupt any torment (5) 12.Leaves sta r t- points, with no design in view (5) 13.Diminish a temptation, say (5) 15.Very brief, like shattered image set in loer case (7) 16.Man of commerce set back by marxist cunning (6) 17.Continental going by rail to school (6) 20.Wader in a spot of bother on the water (5) 21.It goes up on the tenth (5) 22.Cut out fifty to make one belt (4)
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Volvo... from page 3
GTDi T4 engine with 180 horsepower and a maximum torque of 240Nm, including a 30Nm overboost a nd will come in an automatic s i x- s p e e d P o w e r s h i f t transmission. Roselyn Dimalanta, first executive vice president of Viking Cars Incorporated, said that they are happy with their latest outing as they welcome the new V40 in the country. Viking Cars Incorporated is the exclusive distributor of Volvo cars locally. “With keen attention on vital aspects such as design, functionality, engine performance, chassis and driving dynamics, the Volvo V40 is set to create a whole new level of fun driving experience,” Dimalanta said. The Volvo V40 will be available at an introductory price of P2,288,888.
Cimagala... from page 6
occasions to grow in maturity and other virtues, moments to refine our awareness we are children of God who “chastises whom he loves, and scourges every son he receives.” (Heb 12,6) Thus, we need to exercise our faith more forcefully and consistently, something that we can do if we pray, meditate on God’s word, study the doctrine of our faith, develop the virtues, have recourse to the sacraments, wage a lifelong interior struggle, etc. Unfortunately, these are activities that are hardly appreciated by the people of today. They are even considered as a waste of time, a repression of the human spirit and freedom, useless relics of antiquity and of the dark ages, etc., the exact opposite of what these activities actually achieve if done properly. We need to rescue ourselves from such ignorance or misinformation. That’s why we have to talk a lot about the role of faith in life of all of us. Faith, like our reason, is not supposed to be practiced by a few. Though we can refuse the use of faith, just like what we can do with reason, we have to understand that faith is meant to be used by all. We are actually beings not only of senses and reason, but also of faith. We use faith, knowingly or unknowingly. So, we have to realize that faith also has a valid and legitimate place in our public discourses—be it in the media or in the halls of congress and government. We cannot say that just because it is a Catholic faith or a Protestant or Muslim one, it is optional and therefore does not have a necessary role to play in our discourses. Truth is, faith is always in the middle of our discussions—if not a faith in God, then a faith in something else, including a faith only in oneself. Whether we are
aware of that or not, the fact is some kind of faith is always involved.
Fabe... from page 6
role in the socialization of consumption in peer groups. The media has an indelible impact on t he choices they made: more than eighty-eight percent of survey respondents believe that they are inf luenced by advertising, while only two percent indicated that advertisements are “a waste of time.”
falling short of expenditures. Thus continued deficits bloat the country’s debt. At end-Februar y, the Philippines’ outstanding debt stood at P5.325 trillion. The government this year expects to incur a budget deficit of P238 billion, equivalent to two percent of the domestic economy as measured by the country’s gross domestic product (GDP). The additional deficit is expected to bloat the country’s liabilities to P5.779 trillion, or 48 percent of GDP, by yearend.
ASEAN...
Rates...
micro, small and medium enterprises to integrate them into the regional trade ecosystem. Both forum speakers and panelists agreed that while the country is responding correct ly to the coming market liberalization, the times call for “the political will to come up with decisive action,” said Ortiz-Luis. “Government agencies mu st ac t a s one a nd be consistent a mong t hem s elve s ,” Gut ier re z pointed out.
here recently. L SP is t he biggest promoter in the country of the use of state-of-the-art portable fuel cell electric systems that address base energy needs, especially of isolated areas. Mendoza, who also chairs the Mendoza Solar LLC as well as another affiliate, t he L ore n z a n a E ne r g y International, said that the hybrid power plant will be operational within six months from the signing of contract with electric cooperatives. “The price compares favorably with your coal contracts, which I expect w il l cost you P8.00 per kWh or more when it is operationalized in 2016. In contrast, Lim Solar can have t he hy br id power plant operational within six months from signing of the lease contract.” For further drive home the point that he is serious in his offer, he challenge electric cooperatives to penalize him P10,000 for every week that LSP is delayed in building the hybrid power plant. “But once we finished the construction ahead of schedule, you have to pay us P10,000 for every week we deducted from the delivery target,” he added. Mendoza — whose companies have ongoing power development and integration projects with De La Salle University, Subic Bay Metropolitan Authority and Camp Aguinaldo, as well as in Malaysia, Hawaii, Guam, California and Nevada — said that solar energy is very appropriate for Mindanao, especially since the island is in dire need of electricity to meet development demands. “Solar energ y as well as other renewable energy sources is very appropriate for Mindanao if we look at the long term and the impact of climate change, which exacerbates natural phenomenon such as typhoons and storms. For the last several years, Mindanao is now the favorite of natural disasters, whose impacts were exacerbated by climate change-inducing fossil fuels. We can no longer afford to let Mindanao suffer. Solar energy is abundant in the island and it provides clean energy,” he said. Mendoza said that his companies’ vision is to wean
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Debt... from page 5
helped drain off excess hard currency. “We continue to see a problem of capital surges,” De Leon said, suggesting that was a key reason why 90 percent-95 percent of the P700 billion ($17 billion) of the sovereign’s funding needs will be raised in the local market. She said the Philippines this year also plans to issue inflation-linked bonds—an instrument now absent in the sovereign’s debt portfolio— aiming at the “sweet spot” of 10-year maturities. But De Leon noted there are still some hurdles in the way to such an issuance. “There are some regulatory approvals we want to secure,” the treasurer said. “And (we need to) educate investors.” — Reuters
Drop... from page 5
were project loans and P497 million, program loans. The government earlier s a id it wou ld t a p t h e local market for all of its c om merc i a l b or row i ng re qu i rement s , l i m it i ng the foreign component to ODA. This move is meant to harness the excess liquidity in the domestic market as well as the low interest rates this huge supply of money has brought about. R e m o v i n g P 74 . 4 5 7 billion worth of payments of m at u r i n g d e bt , t he government’s net domestic borrowings reached only P48.502 billion. Besides money owed local creditors, the government also settled P52.529 billion worth of debt owed to foreigners in the first quarter. The government borrows money to plug a budget deficit resulting from tax revenues
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COWD CONSTRUCTS ADDITIONAL WELLS IN CALAANAN AND MACASANDIG As it seeks to address the city’s growing demand for water specially in areas like Calaanan where relocation sites abound, COWD has contracted out drilling of two additional production wells-PW No. 10A in Calaanan and PW No. 30 in Macasandig. The construction of these facilities brings to 27 the total number of COWD production wells where CDO residents and establishments source their water needs. COWD also purchases treated water from a bulk supplier to augment its existing supply. Drilling has already started and is to be completed in 90 days. Completion of these 2 wells is expected to bring an additional supply equivalent to 100 liters per second or about 15% increase in COWD’s production capacity in the West Service Area and another the Philippines from its dependence on fossil fuels as well as “reduce our power cost per kilowatt hour by 30 percent by 2020.” “O u r v i sion for t he Philippines is to transition 30 percent of our electric generation to renewable energ y. Cu rrent ly most of our electrical power is generated by coal-burning, diesel generators, natural gas, geothermal and hydroelectric power plants,” he stressed.
Hails...
from page 1 truly affirms the richness of ou r mac roeconom ic fou ndat ion rega rd less of forthcoming midterm elections,” Varela suggested. While PCCI hails this noteworthy accomplishment by the government, the largest business group in the country urged government to do more in resolving the twinproblems of poverty and job generation. Citing recent findings by the NEDA and NSCB on the lackluster performance of the government in further reducing t he pover t y incidence in 2012, it noted the need to use these investment r at i n g s a s le ve r a ge to encourage and expand longterm investments that can translate to poverty reduction and job generation especially in the rural areas. “At the end of the day, all investment upgrades we generate will be useless unless we translate these into specific employment opportunities that increase the potential of our communities to become productive economic agents thereby reducing poverty incidence in the country,” Varela stressed. Varela suggests the need to propel investment generation and expansion for poverty reduction and job generation to be mainstreamed in the economy. He cited the need to revisit regulations that hinder
20% in its Central Service Area. Even as it continues with its rehabilitation from Sendong with the grants from both the Office of the President and JICA, COWD continues to undertake measures to improve and expand its services consistent with its mission and vision. PR
investor conf idence and adopt policies that encourage long-t er m i nve s t ment s especially in agriculture and manufacturing as well as lower cost of doing business in areas related to power and utilities, raw materials s ou rc i ng a nd bu si ne s s licenses. “We need investors not just to invest their money, but to stay and expand their operations—support the value chain activities of ou r ag r icu lt u re a nd manufacturing industries and open opportunities for our MSMEs to be part of their supply chain. We can only achieve this if we look into the specific reforms that will support the broader participation of investors in our now-recognized resilient and stable economy,” Varela emphasized. (PNA)
Outlook... from page 1
bidding that includes some changes in the terms of the sale,” the statement quoted PSALM President and Chief Executive Emmanuel R. Ledesma, Jr. as saying. PSALM said it will sell PBs 101, 102 and 103 -- which are all located in the province of Iloilo -- as one package. “These barges will not be required to be transferred to Mindanao,” Mr. Ledesma said. “On the other hand, the buyer of PB 104, which will be sold as a separate package, will be required to operate the barge in Mindanao for at least five years,” Mr. Ledesma said. Under PSALM’s previous bidding parameters, the three barges were required to be transferred and operated in Mindanao. Mr. Ledesma said the board has also agreed to sell the power barges on an “as is, where is” basis. “This means that no purchase request or purchase order
will be attached to the sale agreement,” he explained. “Having addressed the concerns of interested parties, we are positive that the new round of bidding for PBs 101, 102, 103 and 104 will be successful,” Mr. Ledesma said. Energy Secretary Carlos Jericho L. Petilla said that the previous terms of bidding c on s t r a i ne d i nt ere s t e d bidders. “The minimum price approved plus other cond it ions a f fected t he bidding. Other conditions like the power barges should be sent to Mindanao. Plus it should be rehabilitated to the fullest of which the cost is like buying a new power barge,” Mr. Petilla said in a text message. “The less conditions, the more interested parties,” Mr. Petilla added. The first two rounds of bidding that PSALM held for the power barges were declared a failure after only one bidder participated in both exercises. In the first bidding held on May 16 last year, only ACTA Power Corp. -- a joint venture of Ayala Corp.’s AC Energy Holdings, Inc. and Trans-Asia Oil and Energy Development Corp. -- submitted an offer. In the second auction held on Aug. 17 last year, only Trans-Asia submitted a bid. PBs 101 and 102, which were commissioned in 1981, are located in barrio Obrero in Iloilo City. PBs 103 and 104, which began operating in 1985, are located in Estancia, Iloilo, and Ilang, Davao City, respectively. All these power facilities have a capacity of eight megawatts each. PSALM is the agency mandated by Republic Act No. 9136, or the Electric Power Industry Reform Act of 2001, to handle the sale of remaining state power assets and financial obligations of the National Power Corp. – CAMCF, BusinessWorld
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