Over the weekend, mango exporter Hi-Las Marketing Corp. thanked President Marcos for moving to put a stop to the hoarding of sugar by a cartel of millers, traders, and retailers. At the same time, Senator Sherwin Gatchalian said he suspects collusion among traders to make it appear there is a supply shortage to drive up the price of sugar, as evidenced by a series of raids on warehouses where thousands of metric tons of the commodity were found. As an active member of the Philippine Food Processors and Exporters Organization, Inc. (Philfoodex), Hi-Las said sugar is an important input in food manufacturing.
Visiting Minister Liu Jianchao of the International Department of the Central Committee of the Communist Party of China (IDCPC) said this as he met with Foreign Affairs Secretary Enrique Manalo, House Speaker and LakasCMD president Martin Romualdez, and Senate Minority Leader and PDP-Laban chairman Koko Pimentel. Liu, a former Chinese ambassador to the Philippines, hopes Manila will proceed with projects with Beijing after consensus has been reached, saying a “strong will” is needed to carry on what has been discussed.
ILOILO CITY’S 85TH. Vice President Sara Duterte takes a selfie with Pampanga 2nd District Rep. Gloria Macapagal-Arroyo and Iloilo City Mayor Jerry Treñas during the Mayor's Dinner at Iloilo Convention Center in celebration of the city’s 85th Charter Day over the weekend. Arnold Almacen/Iloilo CMO
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“Without a comprehensive in ventory, we cannot arrive at a wellcalibrated importation policy that answers consumer demand but also relieves our local growers from low farmgate prices,” she added.
The budget hike should be supported
By Othel V. Campos FOOD processing companies are starting to feel the impact of declining sugar prices, which they say will make their products more competitive.
Panares C HINA expressedhas administration.canceledthatoilparticularWest“cooperation”withresumewillingnessitstodiscussionsthePhilippinesoninthePhilippineSea,inthetalksonandgasexplorationwereearlierbytheDuterte Beijing official hopeful ‘strong will’ to move other joint projects forward Next page PNP to fake video spreaders:
SENATOR Imee Marcos yesterday pushed for a comprehensive inventory of local white onions to determine if there is really a shortage of the produce or whether these are being hoarded to jack up Marcosprices. made the call as the Department of Agriculture confirmed there was a lack of white onions in the market.“Trace the traders who bought white onions from local farmers and find out if they are hoarding the crop in cold storage,” she said in a statement.
OVER 70 private schools in Western Visayas have shut down as the new school year began this week, data released by the Department of Education's (DepEd) regional office on Saturday revealed. In an ABS-CBN report, regional DepEd authorities said a low number of enrollees and financial constraints were among the factors for the closures. Seventeen of the 76 schools closed permanently while 59 shut temporarily, Hernani Escullar, Regional Information Officer of DepEd estern Visayas said.
THE Department of Agriculture will get a budget of P102.15 billion in 2023 – a 44 percent increase from its capital outlay this year of P71 billion. Deputy Speaker and Batangas Rep. Ralph Recto said the DA’s funding drought is now over with President Ferdinand Marcos Jr. as agriculture chief. “You can say that this is the beginning of the end of a funding drought,” he said, adding that the department will “finally reap a budget increase.”
Full inventory of local white onions urged DA ends outlay‘drought’fundwithup44% manilastandard.net
HEROES REMEMBERED. A mother and daughter rest near the grave of their departed loved one in the military who perished serving the country at the Libingan ng mga Bayani in Taguig City, as workers arrange bunting to place on the Tomb of the Unknown Soldier (inset) on Sunday, on the eve of National Heroes Day today.
70 private schools shut down in W. Visayas, 17 permanently
Food processors feel effect of declining sugar prices
THE Philippine National Police AntiCybercrime Group on Sunday ordered its commanders to intensify the conduct of cyber patrolling and to validate all videos that have been circulating on social media.PNP ACG chief Brig. Gen. Joel Doria also urged the public to be wary of posting and sharing information on their respective social media accounts to avoid being charged with violations of the AntiCybercrime Law. Also on Sunday, Senator Jinggoy Estrada pushed his bill to create an interagency service to warn the public— particularly senior citizens who are targeted—against online scams. Under Estrada’s Senate Bill 671, or the proposed Senior Citizens’ Fraud Education Act, the Department of Trade and Industry (DTI) will be the lead agency and would be supported by the Departments of Justice (DOJ) and Health (DOH), and the Philippine Postal Corporation.Asmoreand more fake videos circulate
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He also expressed hope the Philippines will proceed with China-funded railway projects so that Filipinos “will have access to the convenience of railway transportation as soon as possible.”
Today’s a day to celebrate new heroes
China pushes oil probe talks
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By Rio N. Araja
Next page COVID AVERAGEDAILYCASESINPHDROPSTOBELOW3KNEWS/A2 INSIDE A 12-PAGE SPECIAL REPORT ON THE Full Reopening: PH Economy Nears Pre-Pandemic Level SectionS D, e & F
By Honor Blanco Cabie THE Philippines, a country of 114 million people, marks today National Heroes’ Day, remembering primarily the Cry of Pugad Lawin, a revolt that kicked off in 1896 the Philippine Revolution against the Spanish Empire. Historians say the date chosen is intended to mark that first act of insurrection against the Spanish colonizers by the Katipunan, a hitherto secret Filipino revolutionary movement led by Andres Bonifacio. Joyce Pangco ‘We’re watching
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PH-CHINA GAB. House Speaker Martin Romualdez (seated center) meets with Minister Liu Jianchao of the International Relations of Communist Party of China (seated, third from left) and some members of Congress and the Chinese Embassy as part of Liu’s three-day working visit to Manila. Walter Palma FB page
68k students get P300m in ‘ayuda’
President Ferdinand Marcos Jr. earlier ordered the Department of Transportation to renegotiate the loan agreements for three railway projects, namely the Philippine National Railways Bicol project, Subic-Clark Railway Project, and the first phase of the Mindanao Railway Project. The DOTr said the Chinese bank that will finance the projects was asking for a 3-percent interest on the loans, much higher than the 0.01-percent rate charged by AsJapan.for the oil and gas exploration talks, Liu said maritime disputes should not overshadow the bilateral ties between the two Asian neighbors.
Hernan Andres, a member of the Bongabon, Nueva Ecija Farmers' Association, said white onion supplies were running out fast since it could not be held in stock for long, and not all farmers plant the vegetable. Farmers were also grappling with the steep cost of fertilizers, Andres added. PNP... From A1 on social media, Doria told police regional commanders to do the monitoring “with a stricter approach.” “I appeal to the public not to easily believe videos or posts that you see online, especially if these posts have not been validated by your PNP. Your PNP ACG is working double time to ensure that the safety of every ‘Juan’ in cyberspace is attained.” “To all spreaders of fake news, remember this: ‘We are watching you,’” Doria said in a statement on Sunday. In another development, while the number of thefts and robberies has gone up, the total number of crimes recorded from January to August had gone down by 8 percent from the same period last year, the PNP said Sunday. In an interview on radio dzBB, PNP spokesperson Police Colonel Jean Fajardo said the total crime incidents and several index crimes –against persons and property—decreased from January to Aug. 15 this year. However, theft increased by 8.62 percent this year, as well as robbery by .49Commentingpercent. on recent abductions and killings reported in several parts of the country, Fajardo said many of these have already been solved. Fajardo on Thursday said the PNP recorded 25 incidents of kidnapping from January to July 2022, most of which were related to Philippine Offshore Gaming Operators (POGOs), and that these have been resolved. Macon Ramos-Araneta DA... From A1 because “to beat hunger, a country should not starve its farming sector of funds,” Recto added. At least eight big agricultural agencies deemed as government corporations would also receive hefty increases in budgetary subsidy from the national government. From P46.2 billion this year, subsidies to the National Food Authority, Sugar Regulatory Administration, National IrrigationAdministration, Philippine Rice Research Institute, Philippine Fisheries Development Authority, National Tobacco Administration, Philippine Coconut Authority, and National Dairy Authority would go up to P62 billion – a 33 percent bump. Of the eight, the NFA will get the biggest hike – a 71 percent jump from P7 billion to P12 billion – to allow it to raise its buffer stock capacity from nine days to 15Nextdays.isSRA with a P1-billion budget subsidy or up by 41 percent from this year’s P712.2 million. The so-called “DA Proper” – the Office of the Secretary – shall see its budget hike from P61 billion to P90.2 billion, a 48 percent or P29 billion increase, Recto said. DA-OSEC will run the National Rice Program, whose allocation shall be doubled from P15.8 billion this year to P30.5 billion in 2023, the senator said. Of this amount, P19.5 billion would fund fertilizer support, which Recto said “is a must at this time when fertilizer prices have gone through the roof.” Under the DA plan, P5.2 billion would be plowed for the corn sector, P5 billion for livestock, P2 billion for high-value crops, and P5.2 billion for fisheries. (See full story online at manilastandard.net)
From A1
Former Education Department Secretary Leonor Briones said the schools might have valid grounds for closure, but they should be probed as to whether their actions violated the country’s“Duringlaws.this pandemic, there was a notable number of private school students transferring to public schools. According to our data, before the start of the academic year 2020 to 2021, it was estimated that 250,539 students transferred from private to public schools,” Briones told reporters on Aug. 16. By Rey E. Requejo
The first distribution day for the educational cash aid was marred by confusion and long queues as huge crowds flocked to the DSWD's main and regional offices. On Saturday, DSWD spokesperson Assistant Secretary Rommel Lopez said the nationwide distribution of aid went more smoothly, except for isolated incidents in some areas. The financial assistance will be available in the DSWD central, regional, provincial, and other local offices starting on Aug. 24 and every Saturday until Sept. 24, 2022. (See full story online at manilastandard.net)
On Sunday, Gatchalian said the Senate would investigate corruption issues in the sugar industry, especially in the unusual quick release of import permits.The Bureau of Customs is leading surprise inspections nationwide, resulting in the discovery of stockpiles of sugar, which may or may not have been importedGatchalianlegally.did not see the involvement Executive Secretary Victor Rodriguez in the controversial sugar importation scandal, nor does he agree with the calls to abolish the Sugar Regulatory Administration (SRA). Instead, he said the focus should be on solving the sugar industry’s problems and making sure it won’t collapse as thousands of workers would be affected. In a radio interview on Sunday, Gatchalian said that based on information and Senate hearing last week, Rodriguez had no role on the unauthorized Sugar Order (SO) No. 4 which sought to approve the importation of 300,000 metric tons of sugar. The senator also said there was a “misunderstanding” in the signing, which led to the resignation of SRA officials. Senate President Juan Miguel Zubiri also attested to Rodriguez's efforts to bring down the price of sugar in markets. Last week, the leader of a sugar producers’ group has declared there is a “conspiracy between millers, traders, and retailers” to induce a shortage and drive up prices of the commodity in the country, Manuel Lamata, United Sugar Producers Federation (Unifed) president, and Philippine Food Processors and Exporters Organization, Inc. (Philfoodex) chief Ruben See also said in a television interview that there was no shortage of sugar from local suppliers or in local markets – but it was just too pricey. With Vince Lopez
Today’s...
• For actions filed after the finality of this Decision, Article 1711 of the Civil Code shall not be given any effect since Article 1711 has been repealed by the Labor Code. Thus, Article 1711 of the Civil Code can no longer be used against employers to claim indemnity for workrelated injury or death. Court records showed that prior to the controversy, Nedic’s counsel wrote a letter to Oceanmarine demanding damages by way of loss of future income for Ellao’s death which was denied by the latter. (See full story online at manilastandard.net)
The memorandum of understanding on cooperation signed by Chinese President Xi Jinping during his state visit to the Philippines in November 2018 was the basis for both parties to “negotiate on an accelerated basis arrangement to facilitate oil and gas exploration and exploitation."However, in June, then President Rodrigo Duterte decided to abandon the joint oil exploration talks amid tensions in the West Philippine Sea. “The President [Rodrigo Duterte] has spoken. I carried out his instructions to the letter. Oil and gas discussions are terminated completely...
From A1 Agriculture Undersecretary Kristine Evangelista earlier said the DA is considering importing white onion to address the demand. To understand the situation better, Marcos urged the DA to list the names of traders who bring in produce from Visayas and Mindanao as well as from major onion-growing provinces like Nueva Ecija and Mindoro. She warned that smaller harvests of white onions in November may not meet the higher demand during Christmas. The senator called on the government to link more local farmers with the restaurant industry ahead of the next major harvest in April. “We can shut out smugglers from the supply chain through contract-growing, wherein industrial buyers assure local growers of income from their upcoming harvests and, in turn, are assured supply of a staple ingredient in their food products,” Marcos said. “Next year’s national budget should provide more cold storage facilities for our local farmers. For now, an inventory and contract-growing must be done as soon as possible,” she added. Last week, the price of white onions in local markets spiked to as high as P400 a kilo, with few vendors selling the suddenly rare commodity – and those that did refusing to sell piecemeal to regular retail Televisionbuyers.reports indicated that local restaurants had already snapped up available stocks of white onions from supplies in Nueva Ecija, while middlemen said they had no white onions to sell for several days now because the local harvest season for the vegetable ended several months ago.
Properly, many say. And while many modern heroes remain nameless and faceless, they must be raised to the pedestal of heroes after standing up to the threats and challenges of this global health emergency, with at least 3.8 million infections and 61.5 million deaths in the Philippines to date. These frontliners – doctors, nurses, medical technologists, microbiologists, clinical laboratory scientists as well as those who clean up the garbage boxes to prevent further infections and possible deaths in hospitals – are deserving of the nation's gratitude. They have become role models that reinforce those values most esteemed by a country and stories about them, even when the coronavirus clout shall have beenTheycrushed.will continue to inspire and provide a legacy as well as a legend for the next generation to aspire to be, historians say. (See full story online at manilastandard.net)
• For actions filed during the applicability of Candano, i.e., from its finality on August 6, 2007 until the finality of this Decision, Article 1711 of the Civil Code shall be given effect based on the Candano ruling.
Three years on and we have not achieved our objective —developing oil and gas resources so critical for the Philippines, but not at the price of sovereignty. Not even a particle of it,” then-Foreign Affairs Secretary Teodoro Locsin Jr. said. Locsin said he "got as far as it is Constitutionally possible to go" in hammering out a deal with his Chinese counterpart as he likened the task of holding foreign intruders accountable to drawing "a blood-red line in the WPS." Meanwhile, Liu said the Communist Party of China (CPC) is looking at enhancing relations with political parties in the"WePhilippines.areopen, and we are very positive to promote and strengthen the interactions between the Communist Party of China and [political parties in the Philippines] and even with new parties, we would like to establish ties," he Liusaid.met with Romualdez and other Lakas members on Saturday while he held a dialogue with Pimentel on Sunday. The CPC established a connection with the PDP-Laban as early as 2017 after Pimentel attended the World Dialogue of Political Parties in Beijing.
Nedic’s common-law partner and father of her minor son identified as Romeo Ellao was shot dead by two unidentified motorcycle-riding assailants after he withdrew money from Oceanmarine’s banks. The assailants immediately took the bag of money in the vehicle and escaped. But the high tribunal noted that heirs of injured or deceased workers still have the option of filing a compensation claim under the Labor Code or proceeding against the employer in an action for damages under the Civil Code as the abandonment of its 2007 ruling in Candano Shipping Lines, Inc. v. Sugataon, also known as the Candano ruling, shall be applied prospectively. Thus, the Court issued several guidelines on the abandonment of Candano ruling and the application of the Title II, Book IV of the Labor Code on Employees Compensation and State Insurance Fund, which include the following:
COVID average daily cases drop to below 3,000
“It seems there are legal barriers or factors standing in the way, but I hope that both sides will move about these issues in a way that is feasible, in a way that is practical, so that cooperation could be realized,” Liu said. “I hope that the discussions will continue. I hope both sides will demonstrate some kind of flexibility… without prejudicing each other’s claims, of their own positions,” he added.
mean to demean the integrity of teachers but only observed that some observers might accuse them of favoritism if they had relatives who were students. The DSWD earlier announced that up to three students per indigent family can receive cash aid worth P1,000 for elementary students, P2,000 for high school, P3,000 for senior high school, and P4,000 for a tertiary student enrolled in a college or technical-vocational school.Upto 400,000 indigent students are expected to benefit from the educational cash support as P1.5 billion has been earmarked for the program.
Food... From A1 “So prices for the commodity should be at a level where we can remain competitive in the global market, most especially with our neighbors in the ASEAN, whose prices often undercut ours due to their lower costs of production,” said Hi-Las president Ram Amores II. Continuing profitability of manufacturing industries would help local agriculture, Amores said, adding that they see farmers as “valuable stakeholders” in their operations. Meanwhile, the beverage giant CocaCola Beverages of the Philippines, Inc. (CCBPI), over the weekend confirmed that the supply shortage of bottler’s grade sugar has affected the capability of some of its bottling plants to continue production.“Weare doing everything we can to minimize supply disruption and the impact of supply shortage to our bottling operations,” the company said. CCBPI is closely working with the government and the broader sugar industry sector to arrive at a sustainable solution for the benefit of the small retailers who also rely on product’s availability for their livelihoods, the company said.
“I hope that the two sides will have a serious, pragmatic, and reasonable discussions and consultations on these projects so once agreed upon, once consensus is reached, the projects will be carried forward,” he said.
This was seen by historians and political observers as the start of the Philippine Revolution and the movement towards independence, declared on June 12, 1898 by Emilio Aguinaldo, restored on July 4, 1946 before the former date was officially declared by then President Diosdado Macapagal as the true date of Philippine Independence. But as the country writhes from the infectious coronavirus disease, which muscled its way in last March 2020, this multi-ethnic Southeast Asian archipelago has gone beyond the frames of Jose Rizal, Bonifacio, Marcelo del Pilar, and Antonio Luna to the personal protective equipmentwearing front liners in different ICUs and medical centers across the nation. But the question begs itself: Do we need to celebrate heroes?
The Supreme Court has reiterated its new jurisprudence governing the awarding of indemnity for loss of future income covering work-related injury and death claims based on the provision of the Labor Code on Employees Compensation and State Insurance Fund. This came after the SC abandoned its previous ruling that allowed the payment of indemnity for loss of future income in connection with work-related injury and death claims based on a provision in the Civil Code. In an en banc decision, the SC through Associate Justice RodilZalameda declared that Article 1711 of the Civil Code had already been superseded by Title II, Book IV of the Labor Code on Employees Compensation and State Insurance Fund.The high court made the declaration in its ruling on the petition filed by Oceanmarine Resources Corporation seeking the reversal of the Court of Appeals decision that awarded loss of earning capacity to respondent Jenny Rose G. Nedic.
• For actions filed prior to August 6, 2007, which is the finality of Candano, Article 1711 of the Civil Code shall be considered to have been impliedly repealed by Title II, Book IV of the Labor Code. Thus, Article 1711 of the Civil Code cannot sustain any action for, or award of, indemnity. Candano was not yet a binding precedent at the time these actions were filed. In Candano’s absence, there is no legal basis to give effect to a repealed provision of the Civil Code.
China...
Newsmst.daydesk@gmail.comMONDAY,AUGUST 29, 2022A2
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SC stresses new jurisprudence in work-related cases
The average daily COVID-19 cases in the Philippines has gone down to less than 3,000 as the coronavirus transmission continued to drop, the OCTA Research Group said Meanwhile,Sunday.making COVID-19 vaccines commercially available to the public in the country will provide more options for Filipinos and promote the vaccination program further, Sen. Christopher "Bong" Go said. This developed as the Philippines recorded 2,318 new COVID-19 cases on Sunday, according to latest data from the Department of Health (DOH), bringing the country's total confirmed coronavirus infections to 3,874,641. This is the third straight day that additional daily infections were less than 3,000, ABS-CBN Data Analytics Team head Edson Guido noted. Fifty-four new deaths were also reported for the second day in a row, raising the total number of people in the country who succumbed to the respiratory disease to 61,667. Active cases stood at 28,525, while those who recovered from the illness have now reached 3,784,449. Of the new infections, 782 are from Metro Manila. Willie Casas and Macon Ramos-Araneta (See full story online at manilastandard.net)
By Rio N. Araja and Robert Evora T HE Department of Social Welfare and Development (DSWD) said on Sunday that it has distributed at least P300 million in educational assistance to poor students and their families over the last two weekends.
From A1
70... From A1 Ten private schools closed shop in Iloilo province, followed by nine each in Guimaras, Antique, and Silay City, seven each in Capiz and Negros Occidental, six each in Aklan and Bacolod City, four in San Carlos City, three in Passi City, two in Sagay City, and one each in Iloilo City, Bago City, Cadiz City, and Kabankakan City.Public schools were ready to accept students from the closed schools, DepEdWestern Visayas said. In-person classes in schools across the country started last week, after implementing blended learning methods due to the COVID-19 pandemic. Restrictions, however, paralyzed the operations of some small schools. Earlier this month, the education department launched a probe after a series of schools shut down across the country, allegedly over financial constraints stemming from the impacts of the COVID-19 pandemic. More than 860 out of 14,000 private schools in the Catholic-majority nation closed their doors since the pandemic hit two years ago, according to the DepEd. The closures have affected 58,327 students and 4,488 teachers. The Catholic Educational Association of the Philippines reported that nearly 85 percent, or more than 700 of the schools that folded, were Catholic ones.
Social Welfare Secretary Erwin Tulfo told a radio interview that as of 8 a.m. Sunday, the department had served 66,000 to 68,000 students. In total over two weekends, more than P300 million in assistance has been handed out, he added. At the same time, Tulfo apologized to teachers for suggesting they might favor certain students if they were tapped to distribute the cash aid. Several teachers’ groups protested the comment.OnSunday, Tulfo said he did not
CHURCH.OLD A sacristan rings the bell of the Parish of St. Francis of Assisi inPlasenciaMeycauayan,Bulacaninvitingparishionersforamass.Thechurchwasfoundedin1578byFr.JuandeandFr.DiegodeOropeza,thefirstbatchofFranciscanprieststoarriveinthePhilippines.
Norman Cruz
THE Philippine Amusement and Gaming Corporation’s (PAGCOR) new top man agement sent a team to distribute relief goods to the affected localities a day after severe Tropical Storm Florita lashed some provinces in northern Luzon. PAGCOR turned over a total of 6,000 food packs and non-food items worth P3.46 million to the provinces of Ca gayan and Isabela, which were among the hardest hit provinces. Bonifacio Cuarteros, Cagayan Chief of Center Management Divi sion and Focal Person on Provincial Social Welfare and Development Of fice (PSWDO) Disaster Response Relief said their agricultural crops was heavily damaged by Florita. The province reportedly lost about P344 million worth of agricultural products. Cuarteros said Cagayan Province has a population of 1.2 million population and many are farmers or depend on farming and fishing. Cagayan’s agricultural crops have been severely affected by the storm. Cuarteros also thanked PAGCOR for their donation and prompt response. He said PAGCOR was the first to as sist his “Malakingprovince.pasalamat ng pamunuan ng province of Cagayan dahil sa maagap at malaking tulong na naibigay ng ahensya.” Isabela PSWDO Officer Lucila Am batali likewise expressed her gratitude to PAGCOR for the relief goods they have donated to the province.
“The PNP has always acknowledged the crucial role that the citizens play in keeping peace and order in the commu nity. Recently, two ladies who were al legedly abducted by a Chinese national in Pasay City, were immediately rescued after residents in the area reported the in cident to Pasay City Police,” he said. Alba said the Chinese national was arrested and the PNP is now investigat ing the incident. He also said the police officers im mediately responded to an attempted abduction of Malaysian national in Bamban, Tarlac after a security guard reported the incident to the PNP.
“With the huge role that our barangay health workers perform in our health sec tor, it is only proper that the State likewise protect those who protect our people by giving them just compensation and other benefits and incentives that they rightfully deserve,” Padilla said. “This bill also includes the barangay health workers’ right to self-organiza tion in order to freely form, join or assist organizations to obtain redress of their grievances through peaceful concerted activities, in a manner not contrary to law,” he added. The proposed bill also sought to stop discrimination against barangay healthCoveredworkers.by the bill are barangay health workers who are registered and accredited with the municipal o city health boards.
Villafuerte is the principal author of RAHe11898.saidthe NSWMC is being estab lished as both the House of Represent atives and the Senate ratified before the sine die adjournment of the 18th Congress the proposed Extended Pro ducer Responsibility Act that amend ed RA 9003 or the Ecological Solid Waste Management Act of 2000.
“We treat all PUPC equally and no one is exempt from this policy,” he said.
AUTHORITIES arrested three highvalue targets drug suspects and seized P5.4 million worth of shabu from them in a buy-bust operation in Pasig City, National Capital Regional Office (NCRPO) chief Brig. Gen. Jonnel Es tomo said on Sunday. Estomo identified the suspects as Mohaimen Rangaig, 26, tagged as a regional high-value individual (HVI), ranked No. 5; Matet Make bel, 33 and Isabel Tobosa, 26, both tagged as HVIs. The Pasig City Police Station-Drug Enforcement Unit arrested the sus pects in a drug bust operation con ducted at around 5:05 p.m. Saturday at 683 R. Castillo St., Barangay Kala waan in Pasig. The police confiscated an estimated 800 grams of suspected shabu with a standard drug price of P5.4 million from the suspects. The suspects and the confiscated pieces of evidence were brought to the station for filing of appropriate charges and subsequently referred to NHQ-Forensic Unit, Camp Crame, Quezon City, for a drug test and labo ratory examination of drug evidence.
Danny Pata
By Macon Ramos-Araneta SENATOR Robin Padilla filed Senate Bill 232 which seeks to give additional benefits to barangay health workers. In filing the bill, Padilla also said he wants to grant barangay health workers the right to self-organize and to seek re dress for grievances in a peaceful manner.
CASH AID FOR STUDENTS. Residents receive educational cash assistance from the Department of Social Welfare and Development at the DSWD office in Gastambide, Manila on August 27. DSWD Secretary Erwin Tulfo announced that they will use a scheduling scheme for students-in-crisis and parents to claim the cash aid. Norman Cruz
Project leader Dr. Lourdes D. Taylo of the Institute of Plant Breeding, Col lege of Agriculture and Food Science, University of the Philippines Los Ba ños (IPB-CAFS, UPLB) reported that the project is almost complete in its target to discover the natural defense mechanisms of wild eggplant accessions against EFSB and LH. Butch Gunio
By Rio N. Araja CAMARINES Sur Rep. LRay Villa fuerte on Sunday said in three months’ time, a new commission under the su pervision of Malacañang shall begin work on upgrading the recycling or reuse of discarded plastic containers and packaging materials, in pursuit of a circular economy or the green model of production and consumption. He said the National Solid Waste Man agement Commission is mandated under a congressional proposal that lapsed into law last month, Republic Act No. 11898, to see to it that big producers and their distributors and retailers are responsible for the proper disposal of their waste products after their goods have been sold to and used by consumers.
Solons setting up commission on waste recycling Project aims to develop more resilient eggplants
“The crime was foiled and the five suspects were arrested. These two inci dents happened recently, and we com mend the vigilance of our citizens and the immediate response of PNP units,” heAzurinadded. said the participation of citi zens in these incidents shows the will ingness of the public to be a part in crime“Theresolution.participation of the citizens in crime reporting including the informa tion shared by netizens in social media of crime incidents are manifestations that every member in the community in all sectors are responding to our call to help restore law and order, and that the citizens are willing to participate in keeping the peace and security in their community,” he added.
THE Philippine National Police (PNP) on Sunday said all Persons Under PNP Custody (PUPC), including former senator Leila de Lima, are bound by strict rules on visitation. Col. Mark Pespes, Director of the PNP-Headquarters Support Service, said in a statement Sunday that they don’t deprive PUPC of their constitu tional right to be visited but it should be within the bounds of PNP Memo randum Circular 2018-02.
Robin files bill giving benefits to brgy
PNP OKs cops in witness protection
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T HE Philippine National Police (PNP) has given its approval to Department of Justice (DOJ) Secretary Jesus Crispin Remulla’s proposal to extend the government’s witness protection program to law enforcer witnesses.
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A GOVERNMENT project aims to continue to develop improved egg plant varieties resistant to eggplant fruit and shoot borer (EFSB) and leaf hopperFunded(LH).by the Philippine Council for Agriculture, Aquatic and Natural Research and Development of the De partment of Science and Technology (DOST-PCAARRD), the five-year pro ject, “Development of Improved Egg plant Varieties with New Plant Defense Genes for Multiple Insect Resistance using Innovative Technologies,” uses genomics, IT-based phenotyping plat forms, molecular marker technologies, and new breeding techniques to fasttrack this development.
PAGCOR turns over P3.46m relief aid to provinces hit by ‘Florita’
“The PNP high command supports DOJ Secretary Jesus Crispin Remulla’s pronouncements to amend some provi sions of Republic Act No. 6981 or ‘The Witness Protection, Security and Ben efit Act’ to include law enforcement officers in the government’s Witness Protection Program, especially those who may be called to testify in gov ernment-initiated investigations,” PNP chief Gen. Rodolfo Azurin Jr. said in a statement Saturday. He, however, said the PNP will con tinue to provide any possible assistance to ensure the availability of police wit nesses to DOJ investigations. This includes ongoing investigation of some police operations carried out in the implementation of the anti-illegal drugs campaign. As this developed, PNP spokesper son Brig. Gen. Roderick Augustus Alba urged the public to be more vigilant in reporting crime incidents to authorities.
MONDAY, AUGUST 29, 2022 A3News
Jun David Cops seize P5.4m shabu, arrest 3 in Pasig buy-bust
Friends of De Lima decried the de nial of their request to visit the for mer lawmaker on Saturday when she turned 63 but the PNP said it was be cause they failed to meet the deadline. Only immediate family members were allowed to celebrate with De Lima. Based on records, the PNP Custodi al Center received the letter of request from her supposed guests on the night of August 22, or five days before the intended“Visitsvisit.to PUPC by any person may be allowed only upon their submission of a written request at least 10 working days prior to the in tended date of visit subject to the ap proval of the Chief PNP for foreign requests or the Regional Director for local requests,” Paragraph 6 of the PNP memorandum states.
NEW SKAL BOARD. SKAL International Makati presents its new board of directors after its first meeting at The Heritage Hotel in Pasay City. The group is led by its new President, Farid Schoucair (seated center), General Manager of Heritage Hotel. Other SKAL officers are (from left seated) Ms. Deedee Ledonio (President, Coltran Exhibits, Inc.) as Secretary General, Ms. Angel Ramos Bognot, (President, Afro Asian World Events) as Vice President, (standing from left) Board Members Ms. Menchie Inc.)CorregidorCarrionDirector)(ConradMichaelManagementConsultant,(InternationalOrobiaProjectBisonCorp.),JaeyAlbañaHotelCommercialandMs.Cynthia(President,FoundationasTreasurer.
By Macon Ramos-Araneta
The IMEG National Capital Region Field Unit opera tives arrested Isidoro in a law enforcement operation at 6:20 p.m. on Saturday following a report from a con cerned citizen that the police commissioned officer was frequently seen playing slot machines inside the casino. The arrest was done in coordination with the Region al Intelligence Division (RID) and the Regional Special Operations Group (RSOG) of the National Capital Re gional Office, PNP-PSPG, and the Security Manage ment Office of Resorts World Casino. Isidoro will be facing charges for violation of Article 231 of the Revised Penal Code in relation to memoran dum circular No. 6, series of 2016, and Republic Act 6713 aside from administrative charges.
JUST PASSING BY. A woman walks past a mural of Filipino heroes Dr. Jose Rizal and Andres Bonifacio along the Manila City Hall Underpass on Sunday, a day before National Heroes’ Day today. Norman Cruz
Robin: Discussions on Charter for progress, not for bickering
SENATOR Win Gatchalian has filed a bill to protect taxpayers against any threat to their rights in paying their taxes. He cited many instances when a collecting agency uses its immense power and resources to go after the taxpayers to their undue prejudice.
A FIRE broke out at the ground floor of the Social Security System (SSS) building in Quezon City early Sunday morning. According to the Bureau of Fire Pro tection (BFP), the fire started at the data center (electrical room) of the building. The SSS management, in a separate statement, said the blaze broke out at 1:43 a.m. at the agency’s UPS Room. Firefighters raised the first alarm at 2:05 a.m. and declared the fire out at 5:11 a.m. “The building’s fire suppressant system effectively contained the spread to other areas,” SSS manage ment said in a statement. It assured the public that “all mem ber data records are not affected.” “There will be no interruption in the de livery of its services in all branches and via online thru My.SSS, SSS Mobile App, and uSSSap Tayo portals,” the agency said. “It likewise assures the public that all payments will be accepted and posted accordingly,” it added. SSS management thanked the BFP Quezon City Station 4 for their prompt action on the incident. Fire investigators has not yet deter mined the cause of the fire and the extent of damage as of press time. Rio N. Araja Gatchalian bill to guard rights of taxpayers Blaze hits part of SSS
By Rio N. Araja T O BOOST air travel, the Department of Transportation is investing P2.5 billion to upgrade three airports to accommodate more flights and passengers, Makati City Rep. Luis Campos Jr. said Sunday.
“Pickup trucks emit more carbon dioxide, are more expensive generally than sedans, which are the vehicle of choice for the middle class. Accord ing to vehicle statistics, pickup trucks produce at least 15 percent more emis sions than sedans. And sedans pay ex cise. So please, tell me why we should uphold the pickup truck exemption,” Salceda added. The tax exemption on pick-up trucks has been included in Package 4 of the comprehensive tax reform program, which President Ferdinand Marcos Jr. carried over as a priority from the Du terte administration. Rio N. Araja
Gatchalian stressed his proposed meas ure is meant to temper the government’s exercise of its taxing power and afford tax payers fair and reasonable treatment when dealing with revenue authorities. Investigations made by the Revenue Integrity Protection Service (RIPS) of the Department of Finance (DOF) in April 2022 found Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR) employees are engaged in irregular activities.
This developed as the Baguio City government aims to resume commer cial operations of the Loakan Airport for the Christmas season, following dis cussions with top officials in the avia tionUnderindustry.the DOTr’s aviation infra structure program in the 2023 national budget, Tacloban City’s Daniel Romual dez Airport would receive the bulk of the new funding at P1.42 billion, said Campos, the House appropriations committee vice chairperson. Antique’s Evelio Javier Airport
Macon Ramos-Araneta
Recordsbuilding;secure
HERO DOGS. Retiring police dogs Gordon, Wanda, and Bullet receive honors from the men and women of Police Regional Office Cordillera during the ‘Salamat Kapatid and Kaibigan Program’ at Camp Major Bado Dangwa, La Trinidad, Benguet on Sunday. Police Col. Elmer E Ragay said the three Aspin are now set for new homes and ready for adoption. Dave Leprozo
DISCUSSIONS on the 1987 Constitu tion are directed toward national pro gress and not bickering, Sen. Robin Padilla said Sunday. He stressed this in a statement after he suspended Friday the second public hearing conducted by the Committee on Constitutional Amendments which he“Butchairs.we are not closing the dis cussion on the subject, definitely not,” he Padillasaid.pointed out that the hearings, including the first done on Aug. 25, aim to gather enough information and knowledge on how the Charter can be enhanced to address the problems fac ing the country. “We are gathering information on how to benefit our people. We are not fighting. If you hear people raising their voices, it is out of passion for posi tive change. But what we are doing is necessary,” he said. “What we need is to discuss how we will ensure progress. We cannot rely on promises if we want change. We must act and not just talk,” the former movie starPadillaadded.said the committee hearings intend to determine the actions needed to solve the problems of Filipinos, in cluding joblessness, high electricity rates, and low wages. He added both sides in the debate, in cluding those favoring the 1987 Consti tution and those favoring amendments to it, have their respective merits. “This is why the committee does not favor one over the other,” he added.
Explain why pickup trucks should be tax-free, solon asks automakers would receive P500 million, while the Laoag International Airport would get P445 million, he added. The Civil Aviation Authority of the Philippines designates Tacloban City Airport as a principal class 1 domestic airport, Laoag International as a sec ondary/alternate international airport, and Antique Airport as a principal class 2 domestic Meanwhile,airport.Baguio Mayor Benjamin Magalong said the CAAP is set to spend some P68 million for the rehabilitation of the aviation facility. “They’re allotting P68 million for the rehabilitation of the terminal, so they are rushing to finish it by No vember, because (Transportation) Secretary Jaime Bautista asked me what’s my recommendation when to open it,” he said.
MEMBERS of the anti-scalawag unit of the Philippine National Police (PNP) have arrested an active police of ficer while gambling inside a casino in Pasay City. In a statement Sunday, Brig. Gen. Warren De Leon, chief of the PNP-Integrity Monitoring and Enforcement Group (IMEG), identified the cop as Maj. Rolando Isidoro, 51, is presently assigned to the Personnel Holding and Accounting Section of PNP Police Security Protection Group (PSPG).
PRO Cordillera honors 3 retiring police dogs
A4 MONDAY, AUGUST 29, 2022 News
Police major caught gambling in casino
THREE retiring police dogs received honors from the men and women of Police Regional Office Cor dillera during the “Salamat Kapatid and Kaibigan Program” at Camp Major Bado Dangwa, La Trini dad, Benguet on August 26. Police Col. Elmer E. Ragay led the retirement honors ceremony and presented Certificates of Recognition and treats to the canine honorees Gordon, Wanda, and Bullet. Gordon and Wanda are both Asong Pinoy (Aspin) who served the Philippine National Police for more than seven years as Combat Tracking Dogs (CTD). As the highlight of their accomplishments as CTDs, Gordon and Wanda helped in locating a missing Korean national in Barlig, Mt. Province, in 2017. Dave Leprozo
ALBAY Rep. Joey Salceda wants car manufacturers to explain why pickup trucks should be exempt from excise taxes on automobiles amid the indus try’s opposition to the Marcos admin istration’s effort to make pickup truck sales subject to excise taxes. “You had four years of tax exemp tions on pickup trucks. We project that we have lost at least P38 billion from the pickup truck excise tax exemption, and for what? 98 percent of pickup trucks are imported, according to the Department of Trade and Industry. The average Juan dela Cruz does not have a pickup truck,” he said. Salceda is the House of Representa tives tax committee chairperson. “I’m open to any argument, as debate is the basis of evidence-based policy making. But I want car manufacturers who oppose this policy to tell me what exactly the basis for an exemption of one line of vehicles is,” he said.
“This is why it is important to legislate the Taxpayer Bill of Rights and Obliga tions (TBORO) to address the system atic problem,” said Gatchalian, chair of the Senate Committee on Ways and Means. In filing Senate Bill No. 1199 or An Act Ordaining a Bill of Rights and Obligations of the taxpayers, he said taxpayers and their rights are one of the focuses of his committee. “We oftentimes think about increasing or extending taxes coverage,” said Gatchal ian. “But we have forgotten the rights of the consumers or those paying taxes.”
“I said if we can avail of the Christ mas season, that would be in the fourth quarter of this year, then (Bau tista) said, ‘Okay, let’s go for Novem ber’,” Magalong added. The rehabilitation of Loakan Air port will include the improvement of the instrument landing system (ILS), along with the extension of the run way by 100 meters. Magalong said the rehab work will also address the drainage issues, and re move the obstructions from the airport, with structures along the vicinity set to beThedemolished.mayorsaid some of the residents have already received two notices to va cate the area, as the Loakan Airport has a 150-meter buffer zone. Prior to the pandemic, diversified conglomerate San Miguel Corp. said it would submit an unsolicited proposal to rehabilitate and reopen the Loakan Air port to commercial flights.
P2.5b set for provincial airports’ upgrade
will not be so nice Politicians need to understand
And there are the aromatics: garlic, onions, even spices such as the no longer so hot siling labuyo.Apart from the smuggling “queen” who somehow never gets caught and, if exposed, never gets punished, we are really always in short supply of garlic and white onions. We import some 90 percent of our white on ion bulbs, and produce mostly the red variety which, while tasty, do not look good enough, whether for our bistek or the fast food onion rings.Months back, our farmers in Bongabon in Nueva Ecija and Occidental Mindoro were throwing away or burning their red onion har vest because the prices middlemen were offer ing were so low they could not even cover their cost.Why? Because mostly smuggled imports of white onions came in at the wrong time -- when our local farmers were harvesting. Now we are paying atrocious prices for these aromatics. And even chili is priced sky high, to the chagrin of Leni Robredo’s kalaylayan in Bicol.
A child afflicted with a rare disease is painful and burdened by expensive medications, check-ups, and therapies to alleviate the symptoms of their sickness
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WHO should we consider as heroes worthy of veneration and respect? But we also know that heroism can also emerge during times when con fronting foreign invaders and tyrants. What does heroism mean during normal times? We see it when ordinary citizens volunteer to help in fighting a deadly disease, which is what happened during the COVID-19 pandemic. We saw frontliners, from doctors to nurses and medical technologists, among others, helping contain the viral infection even at grave risk of catching the virus themselves. We see heroism when government, the private sector and civil society groups respond to natural as well as man-made disasters such as flooding and landslides from typhoons, earth quakes and volcanic eruptions through various means: providing food, shelter andWeclothing.seeheroism as well when people band together to help those suffering from hunger due to extreme poverty. But we should also consider as heroes those who fight crime and corruption even at grave risk to their own lives. Heroism indeed takes many forms. But is it true that unhappy is the land that has no heroes? No. Unhappy is the land that needs heroes.
After NFA’s commercial operations have been castrated, and its annual subsidy for buy ing palay limited to less than 500,000 metric tons of palay (we consume 22 million tons annually), government’s current stock is good only for four days. And because the Rice Tarrification Law left the whole trade to the private sector, NFA does not really know how much the privates have in theirMostwarehouses.ofourpalay farmers will harvest in mid-September till October. As it is, the US Department of Agriculture, about the most reliable when it comes to met rics of food supply and demand, estimates that our 2022 rice imports will be more than 3 mil lion tons, next to China with a population 14 times bigger than ours. Now, here’s more news that’s not so nice: China’s central and southern plains beside the Yangtze are suffering the worst drought ever. The provinces affected are apart from Hei longjiang in the northeast, the biggest paddy (palay in Filipino) fields of the country, produc ing some 60-65 percent of their rice supply: Hu bei, Hunan, Anhui, Jiangxi, Guangxi, Guizhou. Pakistan and Bangladesh have been suffer ing from heavy monsoon flooding. Now there is an informal rice trade between China and Vietnam, to include Cambodia even. Many Cambodian farmers sell their paddy to Vietnam where it is milled and re-sold to coun tries like the Philippines. There is an almost 1,300 kilometer land boundary between northern Vietnam and southeastern China, where trading in commodi ties happens even beyond official statistics. President Marcos and his DA officials have to act with stealthy dispatch. And apart from empty warehouses all over the land, NFA is hard put to be of assistance. Even if there are no strong typhoons hitting Luzon and other regions along our eastern sea board the rest of this year which will impact even in the last quarter, we will still have rice supply shortages in the first half or even the whole of 2023. There are immediate, short-term and medi um-term action plans that the DA under Presi dent Marcos’ leadership should have crafted, or are crafting, but there are also a lot of con straints, including resources, to contend with. Agriculture is the victim of neglect and myo pic planning plus the unintended side effects of the local autonomy law. Now the people are paying the wages of decades of neglect.
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National Heroes Day
and 8-5646229 (connecting all departments), (Editorial)
Our roster of national heroes includes those who figured prominently in the 1896 Philippine Revolution against Spanish colonial rule. Among them are Jose Rizal, whose writings, such as Noli Me Tangere and El Filibusterismo, awakened Filipinos to the harsh reality of Spanish rule; An dres Bonifacio who led the Katipunan to rise up against Spain; the revolutionary leader and statesman Apolinario Mabini who served first as a legal and consti tutional adviser to the Revolutionary Government; and Marcelo H. del Pilar, who led the Propaganda Movement that exposed oppression and abuses by the Spaniards.TheAmerican colonial period also saw the emergence of such heroes as Macario Sakay who led Filipino troops in fighting the Americans in the trench es. Many others took part in fighting the American colonial masters despite infe riorTheweapons.Japanese occupation from 1941 to 1945 also witnessed the gallantry of Filipinos in fighting foreign invaders. But it was not just those who gave up their lives in the anti-colonial struggles during the Spanish and American peri ods and during the Japanese occupation, that we consider as heroes. We also consider as heroes those who fought and died in struggle against the excesses during the martial law period from 1972 to 1986. That’s the reason the government helped set up with the private sector the Bantayog ng mga Bayani that pays trib ute to their sacrifices during a dark pe riod in our contemporary history.
Published Monday to
Now newly minted from retirement Doming Panganiban, who took over the unfortunate Leo Sebastian, tells us that in truth, 93 percvent of our salt is imported from Australia and China! Las Pinas and Paranaque salt beds have given way to massive housing projects. We have some in Ilocos, in Lian and Calatagan, and some other patches of land beside the sea. That’s about all.
understandup Honor Blanco Cabie, Editor mst.daydesk@gmail.com MONDAY, AUGUST 29, 2022 B1Opinion
‘Operation Thermostat’ The gas supply from Russia to Germany from the Nord Stream 1 pipeline has already been drastically cut back. “We now assume that Russian gas flows to Europe via Nord Stream 1 will fluctuate be tween zero and 20 percent capacity in the com ing months,” said Matt Oxenford of the Econo mist Intelligence Unit. And that, he added, would lead to a recession in Europe in the winter of 2022-2023. “Given current gas infrastructure, Germany cannot compensate for an 80 percent cut in Rus sian gas without a drastic reduction in demand, leading to a recession over the winter,” he added. And with Germany a centre of industrial sup ply chains, that would have a knock-on effect across Europe, wrote Oxenford. Businesses will suffer cuts before house holds, and the governments in France and Ger many are already looking at who will have to suffer first. AFP Full version on www.manilastandard.net
Third is the creation of health promotion, pub lic information, and education campaign materi als to increase the level of knowledge of health personnel, the academe, students and the general public.Fourth is to provide evidence for policy and program planning through Research and Devel opment.Fifthis to increase the availability and access of the orphan drugs and products through fiscal incentives and streamlined processes to fast-track both importation and access of these commodi ties.And sixth and most important is to provide fi nancial assistance through different mechanisms that are to be put in place.
medium term
Director for Healthcare Policy of the Phar maceutical and Healthcare Association of the Philippines Ms. Daisy Cembrano suggested to build an agile registration process to establish a health information system national registry that will provide data on the burden of disease, and in enabling patient support programs. She pointed out the need for faster Food and Drug administration donation processes includ ing importation, customs, clearance among oth ers.Most welcome was the remarks of the Sen ate Committee on Finance Chair, Senator Sonny Angara, who assured continued support in the legislature and recognized that current appropria tions are hardly enough and more should be al located in the next years to provide treatment and fundingDurhaneresearch.Wong-Rieger, Ph.D, President and CEO of the Canadian Organization for Rare Disorder, perhaps gave the most apt illustration of the tragedy of rare disease. She said that for a child with a rare disease, discrimination strikes very early in life with ac cess to education and adulthood difficult to find, maintain or return to work.
“Women are disproportionately discriminated and excluded from society, either with a person with rare disease or as mothers. Families with a member living with a rare disease are at greater risk of impoverishment and they have more ex penses and less income,” Reiger said. The capacity of the Philippine healthcare sys tem to address the needs of Filipino rare disease patients will greatly depend on the accessibility of universal health care coverage.
The pandemic has exposed the disjointed state of our healthcare system that will need deep focus in investments and policy reforms from government and the participation of all health stakeholders, which is all of us.
INTERSTITIAL Lung Disease, Agammaglob ulinemia, Dystrophic Epidermolysis Bullosa, Homocystinuria, Phenylketonuria, Tyrosinemia … these are just five of the estimated 5,000 to 8,000 rare diseases that have been discovered globally. Does not sound so rare, does it? According to the University of the Philippines National Institute of Health, there are at least 6,500 Filipinos suffering from rare diseases. Most patients belong to the most financially challenged segment of the population who can only rely on government to help them. Statistics show that approximately 80 percent are of genetic origin striking children with 30 percent dying before reaching the age of five. A tragedy for any parent and family. A child afflicted with a rare disease is painful and burdened by expensive medications, checkups, and therapies to alleviate the symptoms of theirAssickness.theyare dependents, their parents and fam ily must attend to the treatment and basic daily needs. You can imagine the difficulty and how economically catastrophic this is. There was hope for institutionalized support with the enactment of the 2016 Rare Diseases Law or Republic Act 10747. However, stake holders have since been lamenting on the appar ent neglect because of inadequate funding. In the recently held hybrid forum hosted by the Stratbase ADR Institute in partnership with the Philippine Society of Orphan Disorders and UHC Watch, the institute’s president, Prof. Vic tor Andres “Dindo” Manhit said “Due to the low prevalence and the widely dispersed distribution of patients with rare diseases, there is an evident disproportion in the availability of treatments and resources.”Hepointed out it took six years after the en actment of the Rare Disease Law for specific funding amounting to P104.9 million that it was successfully allocated in the 2022 General Ap propriations Act. “While inequality is a deeply complex issue with no clear-cut solution, good governance, political reforms, social investments, and multisector efforts are consistently considered essen tial steps to be taken,” Prof. Manhit said. UHC Watch co-convenor and Healthcare and Education convenor of CitizenWatch Philippines Mr. Alvin Manalansan emphasized that deliv ery of timely, responsive and sustainable health services should be provided to all and called on government and all of society to work together so that “everyone, every Filipino has the right to health” and that “no one should be left behind.”
EDITORIAL
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All because nobody bothers to do numbers crunching, and judgment comes easy against theButmiddlemen.letmetell you the truth: almost all com modities are cartelized, be it oil or grains.
It comes as a shocker to many that we are also importing salt. But in 2006, while traveling in the Ilocos Region, our group went to Pasuquin and visited their salt beds. There did not seem to be such a wide expanse of salt beds that produce the less coarse and very white salt crystals that we at tribute to the North. When I asked the salt farmer how many tons of salt they produce, he let me in on a secret: that they import most of their salt from Austra lia, and then mix these with their Pasuquin salt.
5550. P.O. Box 2933, Manila Central Post Office, Manila. Website: www.manilastandard.net MEMBER Philippine Press Institute The National Association of Philippine NewspapersPPI can be accessed manilastandard.netat: Former Chief Justice Reynato S. Puno Board Member & Chief Legal Adviser Anita F. Grefal Treasury Manager Baldwin R. Felipe Head—Ad Solutions Edgar M. Valmorida Circulation Manager Emil P. Jurado Chairman Emeritus, Editorial Board ONLINEManilaStandard Chin Wong/Ray S. Eñano Associate Editors Joyce Pangco Pañares News Editor Jimbo Owen Gulle City Editor Rolando G. Estabillo Publisher Honor Blanco Cabie Opinion Editor Lino M. Santos Chief Photographer bei, Hunan, Anhui, Jiangxi, Guangxi, Guizhou. In
I was once invited to address the Internation al Grains Council in London, and that is where I discovered that there are just a few big-time traders of rice, wheat, corn, barley and other grainsAndworldwide.whyisthat? Because it takes big money and long credit lines to trade profitably in com modities.
AFTER a series of raids by the Bureau of Cus toms on several warehouses, everybody and his mother have concluded that there is no real shortage of the commodity.
• • • Last week, the president called the NFA Council and its administrator to brief him on the rice situation, worried, as he should, about the supply of our basic staple grain. The NFA Council is such a high-caliber pol icy board: DOF, BSP, NEDA, DA, DTI, Land bank, DBP, plus a representative of the Office of the President (Executive Secretary) and a palay farming sector representative.
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The high prices obtaining in the markets are all “artificially manipulated” by greedy busi nessmen in the supply chain, at the expense of harried consumers, without benefiting the sugar laborers, or so they say. In the aftermath of this sugar fiasco, some medium term effects will not be so nice. One, agency heads and other high function aries of government will be afraid to act deci sively. The buck-passing, the “identification” of scapegoats will have a chilling effect on the entireTwo,bureaucracy.traders,always the usual suspects in the food supply chain, will think twice before stocking up on commodities in anticipation of predictable demand, or rent more warehouses at great expense, to ensure that they do not pack their bodegas to the rafters, which, seen on TV, always conjure images of “hoarding.”
Of sugar, salt, spice and nothing nice
global energy crisis in history,” Fatih Birol, executive director of the International Energy Agency, wrote last month. “The situation is especially perilous in Eu rope, which is at the epicenter of the energy marketNaturalturmoil.”gasis so important to so many coun tries – particularly Germany, which needs it for its heavy industries — that it was exempted from European sanctions against Russia. Coal, in contrast, is subject to a total embargo, while for oil, a progressive embargo applies.
The Department of Health Director for Dis ease Prevention and Control Bureau, Dr. Razel Nikka M. Hao, shared a Five-Year Strategic Plan that outlined six main objectives: First is to ensure that we have integrated and comprehensive care for rare disease patients. Second is to provide access to the entitlements and benefits in the form of reimbursements and government assurances for necessary services.
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Europe huddles down for a winter without Russian gas
But is it true that unhappy is the land that has no heroes? No. Unhappy is the land that needs heroes
A call to action from rare disease stakeholders
WOOLY socks and thermostats turned down a notch: Europeans are preparing for a difficult winter without gas supplies from Russia, part of the fallout from the war in Ukraine. Latvians have been adjusting since the end of July, when Russia stopped supplying gas to the Baltic former Soviet state. They know what to expect in the coming months.“Energy prices are so exorbitant that we al ready cut off the hot water from the city pipeline and installed our own hot water boiler,” said Ju ons Ratiniks, who lives in the city of Rezekne, near the Russian border. “It is cheaper to use it when we actually need it than pay for constantly heated hot water,” supplied centrally, the retired border guard ex plained.Politicians need to understand that people ex pected help when their energy bill started shoot ing up, said Ratiniks. With elections due in October, he warned, “they better support heating for us — otherwise we’ll give heat to them!” Bulgaria, Denmark, Finland, the Netherlands and Poland have also already had their gas cut, while other countries have seen their supply re ducedDeliveriesdrastically.ofRussian gas to Germany via the Nord Stream pipeline will be halted for several days at the end of this month, the second stop page this summer. While ostensibly for maintenance, Berlin has accused Moscow of halting supplies over West ern sanctions imposed over Russia’s invasion of Ukraine.Overall, supply was down in July by around 70 percent, year on year, according to several experts consulted by AFP. ‘Global energy crisis’ Governments around Europe are not relish ing the prospect of cold radiators and factories forced to stop operating. Many believe Russian President Vladimir Putin is using energy supplies as a strategic weapon to put pressure on nations that have ap plied sanctions against Moscow for its invasion of Ukraine.Thecutin supply has pushed the price of gas — and electricity – through the roof given that is what many power stations run on. A surge in oil prices has further complicated matters, even if its value has fallen back some what recently. “The world is experiencing the first truly Sunday by Philippine Manila Standard Publishing Inc. at 6/F Universal Re Building, 106 Paseo de Roxas, corner Perea St., Legaspi Village, Makati City. Telephone numbers 8-5646225 832-5554, (Advertising) 832the aftermath of this sugar fiasco, some effects that people expected help when their energy bill started shooting
Bolsonaro, Lula set to face off in electionpresidentialdebate
The Chinese People’s Liberation Army (PLA) said the US had “openly hyped up” the ships’ passage through the“TheStrait.PLA Eastern Theatre Command is following and warning the US ves sels throughout their entire journey, and is aware of all movements,” spokesman Senior Colonel Shi Yi said. “Troops in the (eastern) theatre remain on high alert and are prepared at all times to foil any provocations.”
AFP
Two US Strait‘routine’warshipsNavymakeTaiwantransit
The Seventh Fleet is based in Japan and is a core part of Washington’s navy presence in the Pacific.
Turkey accuses Greece of ‘hostile action’ against F-16 jets
AFP
The “historic nature” of Monday’s flight, the first of several as the United States returns to the Moon, “certainly has increased public interest,” Meagan Happel of Florida’s Space Coast Office of Tourism told AFP. Traffic jams are expected to start by 4 a.m., with the launch scheduled at 8:33 am (1233 GMT). And even more people might show up if the launch faces a weather delay, as the make-up date falls on a weekend. Sabrina Morley was able to find an apartment to rent not far from the beach, and plans to bring her two chil dren and a few dozen other people on a boat chartered for the occasion by a company called Star Fleet Tours. For $95 a ticket, “we’ll go out into the ocean as close as they can get to the launch and we’ll watch the launch from the boat,” she said “I’ve never been this close to a launch before,” said the 43-year-old, who grew up in Orlando, less than an hour away.
“The plan is to drive very early in the morning and get a spot” on Cocoa Beach, she said, not far from the Ken nedy Space Center. “I know it’s going to be from a far distance, but I still think it’s going to be a sight to behold,” Bostandji told AFP as the family waited to enter a park dedicated to space exploration. Between 100,000 and 200,000 visi tors are expected to attend the launch of the mission, called Artemis 1, which will propel an empty capsule to the Moon as part of a test for future crewed flights.
DRAMATIC
FACEBOOK has reached a preliminary agreement in a longrunning lawsuit seeking damages from the social network for allowing third parties, including the company Cambridge Analytica, to access users’ private data. According to a document filed Friday in a San Francisco court, Facebook says it is submitting a draft “agreement in principle” and has requested a stay of proceedings for 60 days to finalize it. The social network did not indicate the amount or terms of the agreement in the class action. When asked by AFP, Facebook said late Saturday night they had “no comment to share at this time.” The deal comes as Meta boss Mark Zuckerberg and former chief operating officer Sheryl Sandberg, who announced her resignation in June, were due to testify in court in September as part of the scandal.
AFP
Manila Standard TODAY NOTICE OF LOSS NOTICE is hereby given that the whereabouts of the Stock Certificate in the Palms Country Club under the name of Oscar Llamas Arcinue with stock certificate no. 2883 representing one share cannot be determined and, thus, the said certificate is considered lost. This announcement will serve as notice to all parties concerned of the loss of the aforementioned stock certificate (MS-AUG. 15/22/29, 2022)
Pakistan flooding death toll tops 1,000
SEEING a rocket blast off to the Moon is “a once-in-a-lifetime thing to experi ence,” says Joanne Bostandji. The 45-year-old has traveled all the way from northern England to Florida with her husband and two children for a space-themed vacation, and they’re prepared to make sure they don’t miss a second of the action as NASA’s newest and most powerful rocket is scheduled to launch for the first time Monday.
Cambridge Analytica—which has since shut down—had collected and exploited, without their consent, the personal data of 87 million Facebook users, to which the platform had given it access.Thisinformation was allegedly used to develop software steering US voters in favor of Trump. In 2019, federal authorities fined Facebook $5 billion for misleading its users and imposed independent oversight of its personal data management.Sincethe Cambridge Analytica scandal broke, Facebook has removed access to its data from thousands of apps suspected of abusing it, restricted the amount of information available to developers, and made it easier for users to calibrate restrictions on personal data sharing.
AFP SPECTACLE. A controlled implosion demolishes the 100-meter-high residential ‘Twin Towers’ on the outskirts of New Delhi, on August 28, 2022. AFP
Facebook agrees to settle Cambridge privacy suit
Tourists flock to Florida for Moon rocket launch
WorldMONDAY, AUGUST 29, 2022B2 mst.daydesk@gmail.com
SAFETY GEAR. Pope Francis (center), wearing a protective helmet from the Vigili del Fuoco or the Italian Firefighters Corps., is escorted by Archbishop of l’Aquila, Italian Cardinal Giuseppe Petrocchi (right) as they hold a private visit of the Duomo cathedral on August 28, 2022 during a one-day pastoral visit to the 2009 earthquake-struck Abruzzo capital.
BRAZIL’S President Jair Bolsonaro is expected to face his biggest rival for the presidency, popular leftist Luiz In acio Lula da Silva, on Sunday for a de bate ahead of October elections, after days of uncertainty over whether they would“Seeparticipate.youatBand (broadcaster Rede Bandeirantes) tomorrow,” Lula, who was president of Brazil from 20032010, tweeted on Saturday. Bolsonaro has not officially con firmed his participation, but is also expected to appear, according to cam paign sources quoted by local media on“AtSaturday.onepoint I thought I shouldn’t go, now I think I should... I think my strategy is going to work,” the far-right leader said in an interview with Jovem Pan radio on Friday. The debate is the first in the cam paign calendar ahead of the October 2 elections. Organizers have also invited four other candidates, including for mer finance minister Ciro Gomes and Senator Simone Tebet. Polls have put Lula in the lead as the race heats up, with one published by the Datafholha Institute earlier this month showing the leftist leader taking 47 percent of the vote com pared to Bolsonaro’s 32 percent. In 2018, when Bolsonaro won the election, he participated in the first two presidential debates – but was then stabbed during a campaign rally, and after undergoing surgery he did not re turn for later debates. Neither Lula nor another former Bra zilian president, Fernando Henrique Cardoso, participated in debates before the first round when they sought re-elec tion in 2006 and 1998, respectively. On the eve of the debate, Bolson aro and Lula both released campaign ads thefocusingmainlyoneconomy.
AFP TURKEY on Sunday alleged fellow NATO member Greece has used a Russian-made air defense system to harass Turkish jets on a reconnais sance mission, calling it a “hostile action.”Theincident took place on August 23 when Greece’s S-300 missile sys tem deployed on the island of Crete put a lock on Turkish F-16 jets flying at 10,000 feet west of Rhodes, Turkish defense ministry sources said. That was “incompatible with the spirit of (NATO) alliance” and amounted to “hostile acts” under the NATO rules of engagement, the sources“Despiteadded.this hostile action, (Turk ish) jets completed their planned missions and returned to their base safely.”Turkey has in recent months com plained of what it calls provocative actions by Greece, saying such moves undermine peace efforts. The two uneasy NATO neighbors have long-standing sea and air bound ary disputes which lead to near-daily air force patrols and interception mis sions mostly around Greek islands near Turkey’s coastline. Athens accuses Ankara of overflying GreekTurkeyislands.says Greece is stationing troops on islands in the Aegean Sea in violation of peace treaties signed after World Wars I and II. Turkish President Recep Tayyip Er dogan cut off dialogue with Greece af ter charging that Greek Prime Minister Kyriakos Mitsotakis lobbied against US arms sales to his country. Washington has sanctioned Ankara for taking delivery of an advanced Rus sian missile defense system in 2019. The purchase saw the United States drop Turkey from the F-35 joint strike fighter program. But Joe Biden’s administration has signaled it may be willing to move past the dispute and there have been talks about F-16 purchases.
AFP
THE death toll from monsoon flooding in Pakistan since June has reached 1,033, according to figures released Sunday by the country’s National Disaster Management Authority (NDMA). It said 119 people had died in the previous 24 hours as heavy rains continued to lash parts of the country. The annual monsoon is essential for irrigating crops and replenish ing lakes and dams across the Indian subcontinent, but each year it also brings a wave of destruction. Officials say this year’s monsoon flooding has affected more than 33 million people or one in seven Pakistanis. It also destroyed or badly damaged near ly a million homes. The NDMA said more than two million acres of cultivated crops have been wiped out, 3,451 kilometers (2,150 miles) of roads destroyed, and 149 bridges washed away.
In a statement, the US Navy said the transit “demonstrates the United States’ commitment to a free and open IndoPacific.” Tensions in the Taiwan Strait soared to their highest level in years this month after US House Speaker Nancy Pelosi visitedBeijingTaipei.reacted furiously, staging days of air and sea exercises around Taiwan. Taipei condemned the drills and missile tests as preparation for an invasion.Taiwan lives under constant threat of an invasion by China, which claims the self-ruled, democratic island as part of its territory to be seized one day – by force if Washingtonnecessary.diplomatically recog nizes Beijing over Taipei, but maintains de facto relations with Taiwan and sup ports the island’s right to decide its own future. The US Seventh Fleet said the pair of Ticonderoga-class guided-missile cruisers—the USS Antietam and the USS Chancellorsville—conducted the “routine” transit on Sunday “through waters where high seas freedoms of navigation and overflight apply in ac cordance with international law.”
OF NAVIGATION. In this handout image courtesy of the US Navy taken on August 28, 2022 the Ticonderogaclass guided-missile cruiser USS Chancellorsville (CG 62) transits the East China Sea in the Taiwan Strait during routine underway operations.
“These ships transited through a cor ridor in the Strait that is beyond the ter ritorial sea of any coastal State,” a state ment said. “The United States military flies, sails, and operates anywhere interna tional law allows.”
In a lawsuit initiated in 2018, Facebook users accused the social network of violating privacy rules by sharing their data with third parties including the firm Cambridge Analytica, which was linked to Donald Trump’s 2016 presidential campaign.
AFP
TWO United States warships sailed through the Taiwan Strait on Sunday, the American navy said, the first such transit since China staged unprecedented military drills around the island.
AFPFREEDOM
Manila Standard TODAY NOTICE OF LOSS NOTICE is hereby given that the whereabouts of the Stock Certificate in the Palms Country Club under the name of Oscar Llamas Arcinue with stock certificate no. 2883 representing one share cannot be determined and, thus, the said certificate is considered lost. This announcement will serve as notice to all parties concerned of the loss of the aforementioned stock certificate (MS-AUG. 15/22/29, 2022) (MS-AUG. 22/29, SEPT. 5, 2022)
Taiwan’s defense ministry confirmed a pair of warships sailed from north to south through the channel. “During their southward journey through the Taiwan Strait, the military is fully monitoring relevant movements in our surrounding sea and airspace, and the situation is normal.”
b. A company is considered to have a track record of regular income payment if the said company has adopted a specific dividend policy.
Section 9. Effectivity The Circular shall take effect fifteen (15) calendar days following its publication in the Official Gazette or in two (2) newspapers of general circulation in the Philippines and filing with the University of the Philippines (UP) Law Center. For the Commission: EMILIO B. AQUINO Chairperson (MS-AUG. 29, 2022)
Market likely to consolidate this week; profit taking seen
DATE : 11 August 2022 Pursuant to Republic Act (R.A.) No. 9505 also known as the PERA Act of 2008 and its Implementing Rules and Regulations, the Securities and Exchange Commission (SEC) prescribes these Rules for the qualification and/or eligibility of PERA investment products falling under the purview of the SEC.
2. All the pertinent and applicable provisions of R.A. 8799, also known as the Securities Regulation Code and its implementing Rules and Regulations and other issuances shall apply to an eligible PERA Investment Product qualified under these Rules.
By Sophie Pons LA CLUSAZ, France—France’s record heat and drought have not spared the majestic pastures under the snow-capped Alps, where cows are struggling to find enough grass to produce milk for reblochon and other prized cheeses.“Everything’s yellow and parched, so we’ll have to bring them down from the pastures a month early,” said Theo Bargetzy, 28, as cowbells rang out in a field some 1,600 meters (5,250 feet) above sea level. Crowds of tourists in search of cooler climes have flocked to the Alps this summer where buying local raw-milk reblochon and other hand-made cheeses directly from local producers is a cherished ritual. But this year, some heading to Bargetzy’s Lorettes farm perched above La Clusaz are coming away empty-handed—cows are not getting their usual fill of fresh grass, and their milk is less rich as a result. July was the driest month on record for France overall since 1961, and heat waves pushed temperatures near La Clusaz above 30 degrees Celsius (86 Fahrenheit) on several days, unheard-of on the steep slopes. “We’re losing one reblochon per cow per day, so in a week that’s 300 fewer cheeses,” Bargetzy says later, while molding fresh curds into discs that will be carefully aged on wooden planks in a cellar until the distinctive orange-gold rind forms. It takes four liters of milk (just over a gallon) to make each cheese that weighs some 450 grams (just under a pound)— within the guidelines set by the National Institute of Origin and Quality (INAO), the guardian of France’s strict food and wine“Theappellations.worstthing is that this is when we have lots of tourists wanting to buy, and we don’t have enough for everyone—we run out, and can’t sell to all the people coming to visit,” he said.
3. A corporate bond issued by banks shall lose its eligibility in case: a. It is declared to be in default by a competent authority or person in accordance with the applicable laws, rules or contracts. b. Its credit rating is downgraded to a non-investible grade.
For purposes of Sections 2 and 3, the abovementioned criteria shall be defined as follows:
Section 1. Applicability These Rules are being issued in accordance with Section 15 of R.A No. 9505 and its Rules and Regulations, and shall cover the list of securities that the SEC considered as qualified and/or eligible as PERA Investment Products (SEC–eligible PERA Investment Products). Section 2. List of PERA Qualified and/or Eligible Investment Products
Taming inflation will inflict ‘pain’ on —Fed’sAmericansPowell
Let’s get physical Dry summer puts squeeze on French Alps cheese
In the case of a newly formed mutual fund including any sub-fund of an umbrella fund and Exchange Traded Funds, the existing approval process for investment companies shall be observed in the qualification or accreditation as PERA Investment Product subject to the requirements mentioned above.
The PSE shall submit the necessary certification to the Commission including any amendment/s thereto. The Commission shall disseminate the PSE-certified list of PERA eligible securities comprising the PSE Index by posting it in the SEC website. The Commission may also cause the posting of this list in the PSE and other websites.
c. A security shall be considered as readily marketable if said security can be redeemed anytime at the option of the investors.
Section 5. Losing Eligibility as a PERA Investment Product
AFP RULES ON QUALIFIED AND/OR ELIGIBLE PERSONAL EQUITY AND RETIREMENT ACCOUNT (PERA) INVESTMENT PRODUCTS
WASHINGTON, United States— Taming US inflation will inflict “pain” on American families and businesses, but failure to wrestle prices down from their current 40year high would be even more harmful, Federal Reserve Chair Jerome Powell said Friday in a hotly-anticipated speech to global policymakers. Addressing the annual gathering of central bankers in Jackson Hole, Wyoming, Powell did not hold back or leave room for doubt about the Fed’s plans, pledging to act “forcefully.”Hewarned that the world’s largest economy is likely to slow for a sustained period, and the strong US job market will suffer in order to get prices down—consequences he called the “unfortunate costs of reducing inflation.” The Fed this year launched an aggressive campaign to raise interest rates—and in his unusually short, notably direct remarks, Powell made it clear that the fight against inflation is not “Restoringover. price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance,” he told the gathering, held against the backdrop of the majestic Grand Teton mountains.“Whilehigher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” Powell said.“But a failure to restore price stability would mean far greater pain.” Modest signs of slowing in the US economy and easing price pressures spurred hope in financial markets that the central bank might ease up on its aggressive rate hikes, and perhaps even start to reverse course next year.But Powell doused hopes of a policy pivot, making it clear that Fed policy and the benchmark borrowing rate would have to remain “sufficiently restrictive” to bring inflation back down to the two percent target. US markets turned negative on the news, with all three major stock indices losing three percent or more, including a 1,000 point loss for the Dow.The supply chain issues that have beleaguered the global economy have continued, worsened by a series of COVID lockdowns in China, which have combined with Russia’s war in Ukraine to send prices soaring worldwide.
b. REIT shares c. Corporate Bonds with an investible rating issued by an accredited Credit Rating Agency d. Equity Securities which form part of the PSE Dividend Yield Index; ii. The following exempt securities are also considered as eligible PERA Investment Products: a. Government Securities b. Securities issued by Bangko Sentral ng Pilipinas c. Corporate Bonds issued by Banks in compliance with the requirements of the Bangko Sentral ng Pilipinas Section 3. Equity Securities which form part of the PSE Index Equity Securities which form part of the PSE Index may be qualified as eligible PERA Investment Products provided the PSE submits to the Commission a certification that the said equity securities meet the PERA requisites of being non-speculative, readily marketable, and with a track record of regular income payment to investors, as defined under these rules.
1. Non-speculativea.Aninvestment in shares of stock is considered to be non-speculative if the issuer of said shares has shown a history of positive income for at least three (3) of its last five (5) fiscal years and currently, the issuer is not in a deficit.
c. A company is considered to have a track record of regular income payment if the said company, even in the absence of a specific dividend policy, is able to show a history of dividend payment for at least three (3) of the last five (5) fiscal years.
WE TALKED about ergonomics for the bodily development module of my Integral Human Development class. The global COVID-19 pandemic has turned the world upside down, and nobody was prepared for the abrupt shift to working from home. The space at home is not conducive for teaching and learning compared to our setup on campus. Furniture and equipment at home weren’t inherently appropriate for work. I’ve set up my workspace in my bedroom, the living room and even the kitchen. However, despite my efforts to find a suitable place at home to work, it wasn’t as good as on campus. Working with a laptop on a dining table and sitting on a wooden chair may be fine for short periods, but if used long enough, it may cause discomfort and body strain. Changing your work environment may not be enough. The reality is that many of us had given up on our routine when we all had to work from home as we tried to adjust to the situation. Having a laptop rather than a desktop is great because you can move it around the house and use it wherever you want. But after a whole day in front of the laptop, I feel the back strain and discomfort. The tired feeling is worse compared to going around the classrooms and climbing the stairs back and forth during faceto-face classes. It may not be the ideal scenario or space, but we should make the best out of it. I still tried to decorate the wall in my room to make a good background for myself whenever I do synchronous classes. I remind everyone in the house whenever I do lectures to minimize noise, although this is hard to do for my pets. I try to get short breaks and go outside my room to have short conversations with my mother, play with my dogs or eat snacks. At least these small things let me release my daily stress for a little while. Our body is a temple. This means that our body is not our own, but it is God’s, which is why we should take care of it. We should also realize that we cannot be healthy in any other aspect if we will not care for our bodies
AFP
Section 8. Penalty If, after due notice and hearing, the SEC finds that there is a violation of these Rules and the laws, rules, regulations and other issuances identified in Section 6, it shall, in its discretion, impose any of the sanctions available and applicable under these Rules and the other applicable laws, rules, regulations and other issuances without prejudice to applying PERA Rule 18―Penalty and other civil and criminal liability provided for under the applicable laws for the same act or omission.
By Jenniffer B. Austria SHARE prices are expected to return to consolidation mode this week with a downward bias following the hawkish statement of US Federal Reserve chairman Jerome Powell over the weekend.Powellsaid in his speech higher interest rates would likely persist “for some time” to tame rising inflation rate. The US Fed’s next policy meeting is scheduled in September. Given Powell’s statement, analysts said local investors would be keeping tabs on the August inflation rate that could push up local interest rates further. The Bangko Sentral ng Pilipinas raised its policy rate by 50 bps [basis points] to 3.75 percent on Aug. 18, bringing the total increase this year to 175 basis points. “As the benchmark index at an ‘identity test’ towards 7,000, brace for bouts with selling pressure from hands looking to make a quick buck of the market’s mood and momentum,” online brokerage firm 2TradeAsia. com“Accumulatesaid. on weakness—the value of game is won before, not after the market price converges with value,” it added. The benchmark Philippine Stock Exchange Index last week declined 1.6 percent to 6,752.50 as investors succumbed to profit taking. The broader All Shares Index also dropped 1.6 percent to end the week at 3,577.45.Except for financial index, which rose 1 percent, all other sub-indices ended lower last week. The mining and oil index fell 4.1 percent; holding firms lost 2.6 percent; services dipped 1.9 percent; property slipped 1.90 percent; and industrial went down 1.3 percent.Foreign investors were net sellers during the week by P925 million, while the aver age daily value traded fell to P5.8 billion from the previous week’s average of P8.26 billion.Weekly top price gainers were mostly second and third liners, including PH Resorts Group Holdings Inc., which jumped 28.2 percent to P1.09; Cemex Holdings Philippines Inc., which advanced 11.4 percent to P0.78; and EEI Corp., which climbed 10.7 percent to P3.73. Weekly top price losers were led by Nickel Asia Corp., which declined 7.6 percent to P5.80; ACEN Corp., which fell 7.4 percent to P8.04; and Philex Mining Co., which dropped 6.8 percent to P3.30. With AFP
3. All the pertinent and applicable provisions of R.A. 2629, also known as the Investment Company Act and its implementing Rules and Regulations and other issuances shall apply to an eligible PERA Investment Product qualified under these Rules.
d. In the case of PSEi member security, it is removed from the PSEi.
Section 7. Applicability of the Provisions of PERA and Other Laws Implemented by the SEC 1. All the pertinent and applicable provisions of R.A. 9505, also known as the Personal Equity Retirement Account (PERA) Act of 2008 and its implementing Rules and Regulations and other issuances shall apply to an eligible PERA Investment Product qualified under these Rules.
b. An investment in debt securities is considered to be non-speculative if the issuer or the issue has been given an investment grade of at least a Bb rating by a Credit Rating Agency accredited by the SEC or allowed by another acceptable regulatory authority under applicable rules.
The author is an MBA student at the Ramon V. del Rosario College of Business, DLSU. She can be reached at nerisse_estrada@dlsu. edu.ph. The views expressed above are the author’s and do not necessarily reflect the official position of DLSU, its faculty, and its administrators.
Green LiGht NERISSE ESTRADA
1. A security loses its eligibility as a PERA investment product when it is declared as ineligible by the SEC.
Business MONDAY, AUGUST 29, 2022 || B3 extrastory2000@gmail.com Manila Standard SEC MEMORANDUM CIRCULAR NO. 7 Series of SUBJECT2022:
2. A registered equity security may lose its eligibility under the following circumstances: a. The Registration Statement pertinent to the security is suspended or revoked. b. In the case of corporate bond, it is declared to be in default by a competent authority or person in accordance with the applicable laws, rules and contracts. c. In the case of corporate bond, its credit rating is downgraded to a noninvestible grade.
Section 4. Other Securities that may be qualified as eligible PERA Investment Products The SEC may qualify other securities to be eligible as PERA Investment products provided that, the product is demonstrated to be non-speculative, readily marketable, and with a track record of regular income payment to investors.
5. An investment in a security that is later declared to be ineligible as such PERA investment Product shall continue to be authorized to be part of the PERA portfolio, provided that, any subsequent investments by a contributor in said security after being declared as ineligible, shall not qualify to be made part of the PERA portfolio.
An employee prepares the cheese in one of the cellars of the Reblochon cooperative in Thones, on August 22, 2022. AFP AFRICA INVESTMENTS. Tunisia’s President Kais Saied (from left) and Japan’s Foreign Minister Yoshimasa Hayashi attend the opening session of the eighth Tokyo International Conference on African Development (TICAD) in Tunisia’s capital Tunis on August 27, 2022. Japan opened the Africa investment conference seeking to counter the influence of rival China which has steadily grown its economic imprint on the continent. It takes place amid a ‘complex’ international environment caused by the coronavirus pandemic and the war in Ukraine. Some 30 heads of state and government are expected to attend the event at a time when the import-dependent North African nation is grappling with a deepening economic malaise. AFP
The issuers of securities that have been qualified by the SEC to be eligible as PERA Investment Products shall comply with any reports and other information that the SEC may prescribe and/or require.
first. I realized this during these past few years. Stress eating and eventually gaining weight affects my emotional and psychological health. I became very sensitive to people’s opinions, leading to random nervous breakdowns. In addition to this, my eyesight suffers, and I miss not wearing glasses. These instances make me more conscious of what I eat, encourage me to exercise regularly and remind me to care of myselfLifestylebetter.changes are never easy, and they require a high level of commitment to be a success. To address my bodily development, I will be allotting time to regularly do morning stretches and exercise to be as physically fit as possible, given the circumstances and available equipment. I’ll eat a proper, healthy and balanced meal every day. I also invested in a few things such as a high back office chair to reduce strain on my neck and back, an adjustable working table; a laptop stand to keep my screen on eye level; a wireless mouse and keyboard to provide enough room for movement and wrist support; a mallow-type pillow for added elbow support and comfort; a carpet to reduce stress on the feet, legs and back, reduce fatigue, and contribute to a more productive ambiance; and lastly, LED lights for added illumination to reduce eye fatigue and headaches. Although these might have affected my savings, it would be worth it as the future is still uncertain. I know that I should prioritize my health with the same effort as other vital things in my life.
4. A security identified under Section 3 of these rules shall lose its eligibility after it has been found to have lost one or all of the required characteristics to be eligible as PERA investment Products such as being non-speculative, readily marketable and provider of regular income payment.
Section 6. Reportorial Requirements
i. The following securities that are registered pursuant to the requirements of the Securities Regulation Code and Investment Company Act are deemed to be eligible PERA investment products. a. A newly formed mutual fund including any sub-fund of an umbrella fund and Exchange Traded Funds subject to the following requirements: i. The Fund Manager should have a track record that for the past 5 years prior to its application it has been responsible for the operation and management of a registered mutual fund which has been offered to the general public; and ii. The name shall contain the words “Personal Equity and Retirement Account” or “PERA”
3. Track record of regular income payment a. A company is considered to have a track record of regular income payment if the security issued is an interest-bearing debt security.
2. Readily Marketable a. A security shall be considered as readily marketable if said security is traded in a registered security exchange. b. A security shall be considered as readily marketable if said security is traded in an organized market authorized or recognized by the SEC.
Robinsons Land raises P15b from fixed-rate bonds
The Regional Airport PPP Projects were originally approved under a bun dled PPP structure by the National Eco nomic and Development Authority-In vestment Coordination Committee and the NEDA Board. The board approved the unbundling of the five airports in November 2016. Among the companies that earlier ex pressed interest in the privatization of air ports are the Aboitiz Group, Dennis Uy’s Chelsea Logistics Holdings Corp. and Udenna Infrastructure Corp., Philippine Airport Ground Support Solutions Inc., Mega7 Construction Corp. and Prime As set Ventures Inc. of the Villar Group. The DOTr also mulls over the bid ding for the development and rehabili tation of the Ninoy Aquino International Airport, which was scrapped by the past administration.TheNAIAproject aims to alleviate the worsening air traffic congestion at the main gateway and resolve capacity constraints by reconfiguring and reno vating facilities and enhancing opera tion and maintenance. The rehabilitation project also aims to broaden NAIA’s role as a key economic and tourism driver for Metro Manila and the whole Philippines, deliver capi tal infrastructure investment to improve the airport’s efficiency and increase its capacity to meet the growing passenger demand from the Philippines and the Asia Pacific region.
THE Department of Transportation plans to offer the operations of four major airports under the public private partnership program, a top official said over the weekend.“Wewillreview it [regional airports]. PPP should continue, and we will invite the private sector to offer and support our PPP projects,” Transportation Sec retary Jaime Bautista said. Bautista said the airports under review for PPP are the development, operations and maintenance of the New Bohol (Pan glao), Davao, Iloilo and Kalibo airports. The Duterte administration earlier can celled the development, operations and maintenance of the Bacolod-Silay, Davao, Iloilo, Laguindingan and New Bohol (Panglao) airports under the PPP procure ment process and, instead, decided to pur sue the projects through official develop ment assistance or general appropriations.
DOTr to privatize operations of 4 major airports under PPP
SMART Communications Inc. and Globe Telecom Inc. expressed opti mism the country’s anti-trust body will clear them of anti-competitive behav ior allegation in the complaint filed by DITO Telecommunity Corp. Smart said it was “confident that the PCC will, in due course, clear it of any wrongdoing in respect of DITO’s re ported complaint.”
Darwin G. Amojelar
to Section 8 or PRA Adminis trative Order No. 2021-02 or the policy and guidelines of SEF, the effectivity of the No tice to Proceed, or in this case the Notice to Mobilize and Notice to Commence Actual Reclamation Works shall only commence upon PRA receipt of the full payment of the SEF and upon PRA confirmation of such re ceipt,” he said.
Additional subsidy in remote areas to hike power rates
SPNEC expects to spend P400b to achieve 10-GW project portfolio
Alena Mae S. Flores
Othel V. Campos
RLC also remains aggressive with residential launches with four more projects in the second half after open ing four projects in the first half, he said.
Robinsons Land Corp. returns to the local debt capital markets with the historic listing of P15-billion worth of fixed-rate bonds at Philippine Dealing and Exchange Corp. The transaction drew total bids of P120 billion, or 12 times the base offer, prompting the company to exercise oversubscription of up to P5 billion. Attending the bell-ringing ceremony are (from left) First Metro Investment Corp. executive vice president Daniel Camacho, China Bank Capital Corp. president Ryan Martin Tapia, BPI Capital Corp. president Rhoda Huang, Robinsons Land Corp. chief financial, risk and compliance officer Kerwin Max Tan, RLC president and chief executive Frederick Go, PDEx president and chief executive Antonino Nakpil, BDO Capital & Investment Corp. president and chief executive Eduardo Francisco and FMIC president Virgilio Chua.
“Specifically, Globe welcomes the opportunity to present to the PCC how DITO violated the terms and conditions of its Interconnection Agreement with us which prompted the filing of a previ ous case with the NTC,” Globe said. “Globe is committed to comply with regulatory requirements while continuing to advocate for fair business practices,” it said. DITO chief administrative officer Adel Tamano welcomed the PCC find ing to move forward with its complaint against Globe and Smart for alleged abuse of their dominant position.
Ray S. Eñano, Editor Roderick T. dela Cruz, Assistant Editor
AWARD.CEBUANA’SCebuana Lhuillier Bank, the banking arm of Cebuana Lhuillier, wins the
Smart, Globe Telecom agree to cooperate with anti-trust body on investigating DITO’s complaint
Jenniffer B. Austria
By Darwin G. Amojelar
Julito G. Rada PEZA to endorse 30 new ecozones THE Philippine Economic Zone Authority will likely endorse applications for 30 new economic zones to the Office of the Presi dent, an official said over the weekend. PEZA officer-in-charge Tereso Panga said in a board briefing on Friday that 30 ecozone developers submitted plans to put up new ecozones. “A total of 64 items were discussed, [in cluding] 30 ecozone developers and locator application projects with a total capital in vestment of P8.685 billion. Policy admin istrative, finance concerns, the inclusion of ecozone logistics services and the 30 per cent extension of work-from-home arrange ment [were] also presented to the PEZA board,” he said. PEZA, which oversees more than 400 economic zones, focuses on the creation of more oil depots, refineries, agro-industrial, aquamarine, pharmaceutical, agro-forestry, minerals processing and renewable energy special economic zones for self-reliance and sustainable economy.
The company said it was willing to assist and cooperate in the preliminary inquiry by PCC’s Competition Enforcement Office. The PCC earlier said it found “reasonable grounds” to probe into the complaints filed by DITO against Globe and Smart over the alleged anti-competitive behavior. “Smart’s dealings with its competi tors have always been animated by the spirit of fair play and good faith, be cause it believes that its core strength lies in its superior network and overall customer experience that have gained it millions of happy subscribers, and its actions relating to DITO are no excep tion,” the company said. “To this end, Smart takes its duty to interconnect with other telcos seriously. Thus, beyond simply facilitating net work interconnections, it has invested and continues to invest heavily in infra structure that secures the interconnec tion ecosystem, including effectively detecting and blocking fraudulent calls emanating from its network for the pro tection of its own and its competitors’ subscribers, DITO’s included,” it said. Smart said DITO should address the serious and continuing deficiencies in its network before the company could act on DITO’s request for increase in interconnection capacity. Globe said a fair and healthy com petitive environment is necessary to promote consumer welfare.
The DUs and electric cooperatives is sued separate notices of the ERC resolu tion to inform consumers of the impact on power rates starting the August bill ing period.
THE World Bank recognized former Fi nance Secretary Carlos Dominguez III for his contributions on the anti-COVID cam paign and other priority programs of the DuterteWorldadministration.BankGrouppresident David Mal pass, in a letter to Dominguez on Aug. 22, said his “leadership on developing the Na tional Vaccine Program” during the admin istration of former President Duterte was “instrumental in expanding access of CO VID-19 vaccines to all Filipinos. Malpass told Dominguez this strong part nership between the WBG and the Duterte administration on his watch as DOF chief also extended to other government priority initiatives backed by the multilateral insti tution.These included, the expansion of safety nets via the Pantawid Pamilyang Pilipino Program for underprivileged Filipinos; the reform programs in the fiscal, financial and business sectors; increased investments in agriculture and infrastructure development as well as in disaster risk management; improvement of state transparency and ac countability; and the continued pursuit of peace and development in Mindanao.
RENEWABLE energy company Solar Philippines Nueva Ecija Corp. said over the weekend its planned 10 gigawatts of solar projects will require capital spend ing of roughly P400 billion ($7 billion) and generate P60 billion in annual sales. SPNEC chairman Leandro Leviste said in a news briefing the P60-billion annual revenues and $7-billion capital spending estimates were based on the industry standard cost of $700,000 per megawatt and P6 million in revenues perLevisteMW. said SPNEC would invest P10 billion on the planned solar proj ects. They will also be partly funded by the ongoing P2.8-billion stock rights of fering.SPNEC’s joint venture partners will invest P60 billion, while the balance will be funded through project financing. “As a project developer, our job is to consolidate land and permits so the projects can secure off-take and become construction-ready to enable the proj ects to raise financing to complete the capital expenditures with the help of partners,” Leviste said. “If we execute successfully, then this SRO can catalyze an order of magni tude more in funding, for the benefit of SPNEC’s shareholders, its partners and other stakeholders,” he said. Leviste said that after the rights offer ing, the company would conduct more equity offering through private place ment to complete the P10-billion equity needed.Hesaid that under the plan, the com pany would offer up to 3 billion shares in private placement which would be sold predominantly to foreign institu tions.The shares will be issued from the proposed increased in the company’s authorized capital stock to 50 billion from 10 billion shares. The increase in capital stock will also pave the way for the implementation of SPNEC’s property-for-share swap with parent Solar Philippines. SPNEC’s share swap involves the is suance of 24.37 billion shares at P2.50 apiece in exchange for shares of Solar Philippines in over 20 companies.
RLC’s P15-billion bond offer ing represents the first tranche of its P30-billion debt securities program approved by the Securities and Ex changePhilippineCommission.Rating Services Corp. assigned the highest issue credit rat ing of PRS Aaa, with a stable outlook on the bond offering, indicating the company’s stability and strong capac ity to meet financial commitments. The bonds carry a coupon of 5.3789 percent per annum and 5.9362 percent per annum for the three-year and five-year tenors, respectively. Go said the RLC ramped up ex pansion into office, malls, hotels, residential and industrial sectors as it expected the business environment to improve.Hesaid malls and hotels were ex pected to recover to pre-pandemic levels before the end of the year.
Darwin G. Amojelar Dominguez lauded for vaccine program
“We are delighted with the over whelming market reception and re cord oversubscription of our bond offering, which signify strong inves tor confidence in RLC’s brand of ex cellence and demonstrated resilience. Proceeds from the first tranche will support business expansion and in vestment aimed at generating sustain able value for shareholders,” Go said.
“This notice is being issued due to ap parent lack of material time in promul gating the official decision in the abovesubject petition, which will be issued shortly,” the ERC said.
ROBINSONS Land Corp., a lead ing real estate developer, raised P15 billion in fresh capital from the issu ance of fixed-rate bonds amid strong support from retail and institutional investors.RLCpresident and chief executive Frederick Go said during the listing ceremony Friday that total demand reached P120 billion, or 12 times the base offer of P10 billion. This prompted RLC to exercise the over subscription option for another P5 billion.Gosaid the company planned to use the proceeds to partially fund 2022 capital expenditures for project development and land acquisition, refinance maturing debt and support overall business operations.
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Waterfront gets nod to start reclamation
By Jenniffer B. Austria
IN BRIEF
extrastory2000@gmail.combusiness@manilastandard.net B4 MONDAY, AUGUST 29, 2022 PSE INDEX CLOSING Friday, August 26, 2022 46.076,752.50PTS. F oreign e xchange r ate Bangko Sentral ng Pilipinas • FRIDAY, AUGUST 26, 2022 Currency UnitUS DollarPeso United States Dollar 1.00000056.0080 Japan Yen SaudiBahrainDinar2.653224148.6018UKPound1.18390066.30790.0073270.4104HongKongDollar0.1274457.1379SwitzerlandFranc1.03831458.1539CanadaDollar0.77363543.3297SingaporeDollar0.71999440.3254AustraliaDollar0.69790039.0880ArabiaRial0.26624114.9116BruneiDollar0.71741240.1808IndonesiaRupiah0.0000670.0038ThailandBaht0.0279491.5654UAEDirham0.27227915.2498EuroEuro0.99770055.8792KoreaWon0.0007490.0419ChinaYuan0.1460498.1799IndiaRupee0.0125220.7013MalaysiaRinggit0.22371412.5298NewZealandDollar0.62240034.8594TaiwanDollar0.0331311.8556 Source: BSP TOTAL VOLUME 63,5061,468,666,930 TOTAL VALUE (IN PHP) 10,563,843,011.15 DECLINES 89 UNCHANGED 47
PRA Reclamation and Regulation Office general manager Joseph John Literal said in a letter to WMPDI president Kenneth Gatchalian that its board approved the additional 60 days extension of time within which to comply with the second tranche payment of the initial regulatory fee and social environment fun until Oct. 18, 2022 for the P34.3-billion reclamation and horizontal development of 318 hectares in Manila Bay. Literal also said that the PRA board ap proved MWPDI’s permit to commence mobilization and actual reclamation works upon payment of the required initial regula tory“Pursuantfee.
Business
CONSUMERS will experience slightly higher power rates with the Energy Regulatory Commission’s issuance of a resolution that allows the collection of subsidy to cover the budget shortfall in the universal charger-missionary electrification. The ERC allowed state-run National Power Corp. to recover the P2.6-billion shortfall from the consumers “All distribution utilities and the National Grid Corporation of the Philippines are hereby directed to collect from the consumers the UCME true-up rate of P0.0239 per kWh, on top of the existing UC-ME basic rate of P0.1561 per kWh, for a period of 12 months or until such time that the full amount shall have been collected, whichever comes earlier,” the ERC said in the Aug. 4 resolution. The UC-ME funds the programs and projects of the NPC, which is mandated under the Electric Power Industry Re form Act of 2001 to perform the mis sionary electrification function through the Small Power Utilities Group. The ERC asked the DUs to remit the funds to the Power Sector Assets and Li abilities Management Corp.which man ages the assets and liabilities of NPC on or before the 15th day of the succeeding month.The case stemmed from ERC Case No. 2013-191 RC on the petition of NPC for approval of the recovery from the universal charge of the shortfall in the missionary electrification subsidy for 2012 and the corresponding adjust ment of the UC-ME, with prayer for the issuance of provisional authority. It said that after due deliberation and evaluation, it granted final authority on NPC’s petition for the recovery of the shortfall in the UC-ME subsidy for 2012, subject to conditions. The ERC directed PSALM to dis burse the approved UC-ME recovery to NPC in accordance with the true-up adjustment mechanism.
THE Philippine Reclamation Authority granted the request of Waterfront Manila Premier Development Inc. to defer the pay ment of regulatory fee and start the mobili zation of its reclamation project in Manila after a Makati court issued the greenlight to the project.
By Peter Atencio M ORE time together in practice and in its next game will hopefully make the Gilas Pilipinas national men’s basketball team a much better, cohesive squad than it was against Lebanon.Coach Chot Reyes said this as Team Philippines heads into a 7 p.m. clash Monday against Saudi Arabia before a home crowd at the Mall of Asia Arena in the 2023 FIBA World Cup Asian Qualifiers’ fourth window. “We are not familiar with each other. If we get some more time to practice together, then we should be able to address that,” said Reyes after Team Philippines took a 85-80 setback to Lebanon on Thursday in anReyesaway-game.pointed out their 21 turnovers as one of the culprits when they fell to the Cedars.Saudi Arabia heads into action against Gilas, reeling from a 65-80 loss to the New Zealand Tall Blacks in a home game in Dammam.
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THE Philippines edged Australia, 21-25, 25-19, 19-25, 25-18, 15-12, in a five-set thriller to boost its chances of finishing fifth in the AVC Cup for Women Sunday at the Philsports Arena. Tots Carlos produced 26 points, including the match-clinching kill to close out the intense two-hour, 31-minute contest that gave the national women’s team the victory in the event hosted by the Philippine National Volleyball Federation.Looking fatigued after losing to Thailand, 18-25, 25-23, 20-25, 9-25, in the quarterfinals late Saturday, the Philippines still showed steely resolve to prevail despite trailing 1-2 in sets. “We have nothing to lose. They have gone through in those kind of situations before so they have experience. I just told them to simply just enjoy the game and then limit your basic errors,” said coach Sherwin Meneses. Already assured of its best finish in only its second participation in the AVC Cup for Women, the Philippines hopes to end its campaign on a high note against Chinese Taipei, which earlier pulled off a 25-23, 25-19, 25-17 victory over Iran, in the 5th-6th place classification match at 1 p.m. Monday. The country placed ninth in its debut in the 2018 edition in Nakhon Ratchasima,JemaThailand.Galanza also played big for the national women’s team with 18 points, while Ced Domingo had three blocks for a 18-point effort for the national women’s team. “It was a lot of teamwork really,” said setter Jia de Guzman. “Everyone came together. Everyone did their roles. We really wanted it more this game.” The Philippines lost its receive in the opening set, allowing Australia to nail six aces and claim the upper hand. Finally getting into the groove of things, the women’s national team was able to level in the second set, but things didn’t go its way in the third, as the Volleyroos, with Caitlyn Tipping scattering for nine points, raced to a 14-3 advantage and weathered their foes’ late comeback to take the upper hand. With the Philippines on the ropes, Galanza, Carlos and Domingo joined forces in the fourth set to extend the match.Tipping eventually finished with 25 points, including six blocks and five service aces, while Stef Weiler and Rebecca Redgen chipped in 17 and 12 points, respectively, for Australia.
THREE separate countdown ceremonies have began over the last four days, marking the days, hours, minutes and seconds before the 2023 FIBA Basketball World Cup begins a year from now. Japan was the first to reveal the Countdown Clock on August 25 (Thursday) in Tenbusu Naha Plaza in NahaTheCity.second ceremony on Saturday unveiled the country’s own countdown timer, done at Mall of Asia Music Hall in Pasay, with cultural presentations, firework displays, a synchronized drone exhibition at bayside and lots of music highlighing the celebrations broadcast live nationally by Cignal TV. Indonesia’s festivities were held on Sunday at the Bundaran HI, one of the striking landmarks which dominate Jakarta’s cityscape, with Indonesia’s basketball chief Erick Thohir leading theFIBArites.
A big crowd of fans is expected to cheer on the Gilas squad, which has a 2-3 win-loss record in Group E for fourth place, while Saudi Arabia is behind at 1-4. Above the Philippines are New Zealand (5-0), Lebanon (4-1), and Jordan (3-2). India is 0-5. Filipino fans will be rooting for Utah Jazz guard Jordan Clarkson, who will be playing before home fans for the first time. In the Lebanon game, Clarkson was ably backed up by Dwight Ramos, Kai Sotto and Japeth Aguilar, who logged a lot of minutes inside the floor. Also expected to provide support are Scottie Thompson, Chris Newsome, Bobby Ray Parks Jr., Jamie Malonzo, Calvin Oftana and Ravena brothers Kiefer and Thirdy. “For us, it’s about getting this team together,” said Clarkson after the match. Gilas won’t have big man Carl Tamayo in its next encounter, but he will be replaced by Roosevelt Adams. Adams, a 6’5” sniper and the first overall pick in the 2019 PBA Rookie Draft, takes the place of Tamayo, who will join reigning UAAP champion University of the Philippines Fighting Maroons in their training camp in South Korea.
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Filipina spikers celebrate their ve-set thriller of a win over Australia to boost their chances of nishing fth in the AVC Cup for Women.
president Hamane Niang, who was in Manila on Saturday was glad at what he witnessed and was present in the functions done by the three countries, which will play host to the games.
C1MONDAY, AUGUST 29, 2022
Sports
THE country’s biggest and most prestigious taekwondo competition -- the 45th SMART/MVP Sports Foundation National Taekwondo Championships – will be held on September 3 and 4 at the Ayala MallsManila Bay in Pasay City. The organizing Philippine Taekwondo Association announced that over 2,000 taekwondo jins from 20 different regions including the BARMM, CAR, CARAGA, and the National Capital Region, as well as all branches of the Armed Forces of the Philippines, including the Philippine National Police, members of the Philippine Team and major collegiate leagues such as UAAP and NCAA, are confirmed to participate in the two-day event supported by the Philippine Sports Commission, Philippine Olympic Committee and MILO.The competition features the Advance & Novice category for men and women with four (4) divisions, namely Senior, Junior, Cadet, and Grade School. The event is an Individual competition. PTA said the tournament will utilize the Taekwondo officiating system KPNP as the Protector and Scoring System (PSS) with IVR (Instant Video Replay) system being used in all PTA tournaments to ensure fairness and eliminate human error.Martial arts enthusiasts, sports aficionados, and children who are interested to learn the sport are invited to witness the event, which is set to start at 9 a.m. after an elaborate opening ceremony. The Philippine Demonstration Team will perform at 1 p.m.
A FILIPINA is set to play Division I volleyball in the United States. Outside hitter Jillian Santos has transferred from Ateneo de Manila University to University of Illinois at Chicago.TheUIC Flames play in the Missouri Valley Conference. Santos, 19, went to Ateneo last year after graduating from University of Santo Tomas High School. However, she was a “COVID-19” reserve for the Blue Eagles during UAAP Season 82 as she was recovering from an injury. During the past few months, Jill and her brother Jericho -- who is attending Ateneo High School -- had to go to America due to a family emergency. It was there where they were discovered.“Iwentto the US to attend to an urgent family matter that lead to a decision to relocate to the US. We saw that my brother had opportunities and resources that would be beneficial for their futures,” shared Jill. “I also wanted to try to continue my college degree here. I was then able to speak with the coaching staff and was very fortunate to be given the chance to train and play for the university.” Jill and her dad Jeffrey are staunch supporters of Chooks-to-Go Pilipinas 3x3, even owning a team during the league’s competition in 2021, the Bocaue Homegrown Rice.
National taekwondo meet lures over 2,000 jins
Jillian Santos 1-year countdown for FIBA World Cup begins
Riera U. Mallari, Editor; Randy M. Caluag, Assistant Editor
Utah Jazz player and Gilas Pilipinas standout Jordan Clarkson holds a basketball clinic for Tenement residents in Taguig City. Norman Cruz
president Rep. Abraham Tolentino joined SBP chairman emeritus Manny Pangilinan and SBP president Al Panlilio in the festivities, along with FIBA organizing committee chairman Richard Carrion, FIBAWC2023 Ambassador Miss Universe 2018 Catriona Gray and Tissot representative Denise Dy in initiating the countoff, with FIBA executive director David Crocker. The basketball lights up at the Music Hall of Mall of Asia ion Saturday to mark the oneyear countdown before the Philippines co-hosts the FIBA World Cup 2023 with Japan and Indonesia. SBP chair emeritus Manny Pangilinan and president Al Panlilio, FIBA World Cup chair Richard Carrion, POC president Rep. Bambol Tolentino and Ms. Universe 2018 Catriona Gray graced the event. Avito Dalan
Niang, who is also the president of FIBA Africa since 2014, expressed his satisfaction of the Philippines’ hosting preparations to officials of the Samahang Basketbol ng Pilipinas before he left for Jakarta. “Maganda ang ating preparation. Nakita niya iyung paghahanda. He was happy to see our Miss Universe 2018 as one of the ambassadors. We are the only one with such a local ambassador,” said SBP executive director and spokesman Sonny Barrios as he referred to the venues that will be used, the operations and local ambassadors.SBPneverexpected to earn the hosting rights again after it lost the bid back in 2019, only to learn later that three countries will co-host it in 2023. Philippine Olympic Committee
Expect more cohesive Gilas at home turf vs. Saudi Arabia
Other Warriors who delivered were Dhon Reverente with 16 points and 12 rebounds, Nico Elorde with 13 points and 6 assists and Nikko Panganiban with 12. Actor Gerard Anderson also did his part with 7 points in 13 minutes of action. The Muntinlupa Cagers slid to 2-9 despite the 27-point, 10-rebound output of Harold Arboleda, the 14-point, 6-rebound, 5-assist contribution of Domark Matillano and the 14-point, 10-rebound line of John Cantimbuhan Jr. Other games saw Caloocan Victory Liner dominates Manila Stars, 80-69, and Laguna Krah Asia subdues Mindoro, 82-74, in a battle of also-rans.
The par-72 design of Arnold Palmer at the Forest Hills Golf and Country Club proved it can be a championship layout with its own character and merits.
Nadal eyes 23rd tennis major; Djokovic gives up
LONG-TIME tennis patron and Unified Tennis Philippines president Jean Henri Lhuillier lauded the recent victory of national tennis player Ruben Gonzales at the ATP Challenger Circuit after the Filipino netter won the Republica Dominicana Open with doubles’ partner American Reese Stalder. “I am extending my heartfelt congratulations to Ruben for this achievement. Just to be able to compete regularly in the professional tennis circuit is, by itself, impressive, more so that he has been very competitive in his event. He has been representing the country for a long time in the Davis Cup and SEA Games, where he and partner Treat Huey won the doubles’ gold event in 2019,” said Lhuillier.
NEW YORK—Rafael Nadal targets a fifth US Open and 23rd Grand Slam title in New York from next week with his path to the title no longer blocked by Novak Djokovic, whose refusal to get vaccinated has ruled him out of a second major this year.
“Despite its challenging nature, though, our members and guests keep coming back to Palmer, each time trying to conquer and have a better score,`` said Bunquin, who is spearheading the preparation of Forest Hills’ 25th year this November. Jacob Cajita took the crown in the Developmental Division with 145 (73-72). Kirby Lachica 155 (80-75) walked away with the Mid-Amateur 1 title. The other division winners were Roy Nudalo 154 (76-78) in MidAmateur 2, Lee Jin Soo 153 (7479 in (Senior and King Sumulong 162 (82-80) in Super Senior.
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Warriors sustain rise; Caloocan, Laguna tame Gonzalesrivals lauded for Challenger Circuit victory
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Lhuillier added: “It was doubly impressive since Ruben and his partner were not seeded at all. But right from the start of the tournament, they beat the third-seeded team. He has the heart of a champion and I take pride in knowing Ruben personally. I look forward to seeing him don the national colors anew in the near future.” Gonzales thanked Lhuillier for his kind words. “It was a tough fight for us and I am happy that we won the finals. And I am happy, too, that our Philippine tennis benefactor Jean Henri found the time to recognize our achievement. Now, I am looking ahead to another opportunity to play for the Philippines in the future.”
FOREST Hills Golf and Country Club’s Palmer course hosted its first major tournament via the 2022 NGAP Forest Hills Open over the weekend and it passed the test with flying colors. Ranged against some of the best junior, amateur and senior golfers, the par-72 design of Arnold Palmer proved it can be a championship layout with its own character and merits. “One cannot take the Palmer lightly,” says General Manager Raymond Bunquin, adding: “The terrains are hilly, the fairways are rolling and the greens are uneven andIndemanding.”fact,from among the more than 100 participants in five divisions, it was only Edison Tabalin, a bubbly teener out of Davao, who managed to break par in the 36hole collaboration between Forest Hills and the National Golf Association of the Philippines.
“Not having one of the best players of the history in the draw of Grand Slam is always an important miss, no?” was Nadal’s take on Djokovic’s absence. “Tough for the fans, tough for the tournament, tough for the players, too, because we want to have the best fieldWithpossible.”RogerFederer still absent from the tour and with question marks over Nadal’s fitness and Djokovic’s absence, the race for the men’s title is likely to be as open as recentMarinyears.Cilic, Stan Wawrinka, Dominic Thiem and Medvedev have all broken the New York stranglehold of the “Big Three” since 2014. Medvedev will be especially fired up having been banned from Wimbledon along with all other Russian players following the invasion of Ukraine. On his reappearance on the tour following the All England Club cold shoulder, the 26-year-old claimed the hardcourt title in Los Cabos.World number two and 2020 runner-up Alexander Zverev misses out through injury while fourthranked Carlos Alcaraz, a quarter-finalist in 2021, looks to convert potential into a maiden Slam triumph at 19. AFP
Nineteen years after making his debut, the 36-year-old Nadal drags his injuryprone body into a tournament he won in 2010, 2013, 2017 and 2019, the year of his lastTheappearance.Spaniard has had to sit out the US Open four times in his career and there are once again fresh doubts over his physical ability to survive a gruelling two weeks at Flushing Meadows. Since an abdomen injury forced him to hand Nick Kyrgios a walkover into the Wimbledon final, Nadal has played just once—a first-up loss to Borna Coric in Cincinnati.Nadaladmitted on Friday that he had been protecting his injury in Cincinnati but had been able to practice with intensity in the build-up to the US Open. “I take it very easy in the Cincinnati, too, in the practices. The match, I try my best without putting all the effort there on the serve,” Nadal said. “I hope to be ready for the action. That’s the only thing that I can say. “Taking care with the serve, being honest. But in general terms, yes, I am practicing at high level of intensity.”
Nadal has become accustomed to overcoming setbacks, winning a 14th French Open in June despite playing the whole tournament with pain-killing injections in his foot. An added incentive for Nadal is the opportunity to reclaim the world number one spot from defending champion Daniil Medvedev, the man he defeated in the 2019 final. While Nadal trains in New York, career-long rival Djokovic will remain in Europe after finally giving up hope of a last-minute change of Covid policy by the USTheauthorities.famously unvaccinated Djokovic, who won the last of his three US Open crowns in 2018, is barred from entering the United States for refusing to take the vaccine. The 35-year-old, who saw his bid for a first men’s calendar Grand Slam since 1969 ended by Medvedev in the 2021 US Open final, hasn’t played since securing a seventh Wimbledon title last month, a victory which extended his Slam record to 21. His controversial vaccination stance also saw him deported in January from Melbourne, where he had been hoping to defend his Australian Open title.
THE General Santos Warriors sustained their rise with a 96-87 victory over the Muntinlupa Cagers late Saturday in the OKbet-MPBL (Maharlika Pilipinas Basketball League) 4th Season Presented by Xtreme at the Caloocan Sports Complex. GenSan stormed ahead, 40-19, before going to cruise mode and securing its fifth straight win and a 9-5 slate in the single round-robin elimination phase of the 22-team tournament. Mark Cruz, the smallest guy on the court at 5-foot-6, played the biggest role for the OKbet-supported Warriors with a game-high 29 points, 8 assists and 3 rebounds.
Damian Lasco drives through for Caloocan Victory Liner Excellence. Sports
THE Penong’s 5150 Davao unfolding Sunday guarantees nothing but a vigorous relentless action and pace among a mix of bidders all primed in a race against time on a well laid-out Olympic-style course in Tagum City, Davao del Norte. The local government, through Davao del Norte Gov. Edwin Jubahib and Tagum City Mayor Rey Uy, and the sponsoring Penong’s Barbecue Seafood and Grill have thrown their full support to ensure the smooth staging of the 1.5k swim, 40k bike and 10k run event at The Wrec, Hijo Resort Davao. The organizing IRONMAN Group/ Sunrise Events, Inc. have twice postponed the holding of Penong’s 5150 in 2020 and 2021 due to pandemic. But after the successful conduct of the Sun Life 5150 Bohol and the IRONMAN 70.3 Philippines in Cebu, things are looking up for the return of the endurance race in Mindanao. “It is both challenging and exciting to host this event delayed by Covid-19 pandemic. We are confident that our dynamic partners – IRONMAN, Hijo Resorts, the City of Tagum and the Province of Davao del Norte – will be able to give everyone a safe and memorable race experience,” said Penong’s operations manager Jose Sebastian Regis. “As we did with the pandemic, let us all persevere through the challenges, let us all race with courage and let us all finish with pride,” he added. Penong’s actually made its way to the triathlon calendar in 2019 but reduced it to a duathlon format due to concerns over the quality of water in the swim stage. But with all the routes checked and all in place, it’s all go for the swimbike-run race sponsored by Penong’s Barbecue Seafood and Grill, Powerball/Go for Gold, Davao del Norte, Hijo Resorts Davao and Tagum City. “It is actually our inaugural race in Tagum City for 5150 and Sprint and we have prepared an excellent and safe race on a breathtaking racecourse for everyone to enjoy,” said race director Neville Manaois. Meanwhile, the field is all geared up for a duel of speed and staying power not only in various age-group categories but also in the relay all-male and relay all-female and the relay mixed. Spicing up the event, backed by Lightwater, Finis, Rudy Project Sante (Barley), Manila Bulletin and Tempo, is the Sunrise Sprint, a 750m openwater swim, 20km bike and 5km run race for for athletes making a comeback in the ever-growing sport or those seeking to practice and build up to reach IRONMAN level.
In climbing to 2-8, the Caloocan Excellence drew power from Damian Lasco with 20 points, 6 rebounds and 4 assists and 14 points each from James Martinez and Buenaventura Raflores, who also snagged 7 rebounds. The Stars, who got 17 points and 18 rebounds from Ronnie Mathias, skidded to Laguna,6-10.which improved to 2-12, drew 20 points from Mico Bren Pallares, 15 from Paolo Pontejos and 11 each from Floyd Dedicatoria and Darius Duane MindoroEstrella.(1-14)got 20 points each from Drake Santos and Marlon John Espiritu and 12 from Khen Osicos.
Beauty for brawn: Catriona Gray joins FIBA local ambassadors
Entertainment MONDAY, AUGUST 29, 2022 C3 E-mail: lifeandshow.manilastandard@gmail.com
SOMETIMES, a light, inspiring, feel-good show on TV is all we need after a long day of work. As if to heed this call from viewers, GMA-7 and Quantum Films bring to us the latest series we can all look forward to starting tonight on GMA Telebabad.Thismuch-awaited primetime soap, What We Could Be, brings together exciting stars Miguel Tanfelix as Franco, Ysabel Ortega as Cynthia, and Yasser Marta as Lucas. The story follows three young individuals in the quaint town of Sta. Barbara, who are juggling personal aspirations, family issues, and love problems while they navigate their way towards their goals. Sensitive, at times maybe hearttugging, What We Could Be is a story we can all relate to, not in its entirety but in some of the characters who play different roles.
By Patricia Taculao IT’S NO secret that the Philippines stops for three non-holiday significant events, specifically, the three Bs: beauty pageants, boxing, and basketball. Miss Universe 2018 Catriona Gray knows how it felt when the country celebrated her success as she wore the Miss Universe crown. Today, she holds a significant role in the Philippines as an influencer who inspires her audience to leave a positive impact on the community.Thisyear, Catriona has a new title that allows her to train the spotlight on Filipino talent again, but this time on the basketball court.Basketball is a popular and well-loved sport among Filipinos. If fans aren’t out playing the sport, they usually spend ample time watching local and international bouts. As the return of the FIBA World Cup slowly nears, Catriona joins former Gilas Pilipinas players LA Tenorio Jeff Chan Larry Fonacier, and Gary David as an ambassador of the Philippines. It’s not the first time LA will be working with Catriona, but it’ll be the first for his fellow former Gilas Pilipinas players. Regardless, they’re all looking forward to joining the beauty queen as they promote basketball and the FIBA World Cup around the country. “There is such a joy in being part of a community that is all cheering for the same team,” the beauty queen said during the “One Year To Go” milestone leading to FIBA Basketball World Cup 2023 last August 25, Thursday. Catriona is no stranger to sports, especially martial arts as she owns a black belt in Choi Kwang-do and pursued karate as a child. However, she doesn’t share the same prowess for basketball. The Filipina-Australian stunner jested that if basketball only required height, then she’d happily show off her skills on the court. On the other hand, she added she’ll try to get on the court when she and her fellow ambassadors work through the local provinces. Since her success in 2018, Catriona has had several opportunities as an ambassadress. However, she’s brimming with pride and gratitude to see Filipinos supporting their athletes. “It gives me so much pride and joy, and I look forward to warmly welcoming the world’s eyes to the Philippines. I know that we will have a celebration like no other. We will show them there are no better fans than here in the Philippines,” she said. Aside from showing the Filipinos’ love for basketball, Catriona also wants to highlight the local culture and values in all aspects. Catriona and the 2013-2014 Gilas Pilipinas team will also join the local ambassadors of co-hosts Japan and Indonesia, with the FIBA Global Ambassador that will be named later this year.The “One-Year-To-Go” milestone also marks the launch of the second phase of the FIBA Basketball World Cup 2023 ticket sales, with Final Phase packages becoming available. Two exciting new packages are now for sale to the public: the Finals Ultimate Fan Pass and the Finals Superfan Pass. The media conference encouraged fans to register to the “Win For All” community at https://register. worldcup.basketball and avail of these passes at early bird rates.
Wang, Editor Patricia Taculao, Editorial Assistant
Miss Universe 2018 Catriona Gray (center) with former Gilas Pilipinas players and FIBA and SBP executivesCatriona hopes to highlight Philippine culture through her position as FIBA Philippines’ local ambassador of starringover 15.5 million plays on Spotify moreaccumulatedandthan17millionviewsonYouTube,includingitslyricvideo,lyricvisualizer,and On president Eugene
HBO announced Friday that the House of the Dragon fantasy drama would return for a second season after the Game of Thrones prequel debuted to nearly 10 million US viewers. Set years earlier in the same universe of George R.R. Martin’s books, House of the Dragon depicts the glory days of the ancestors of popular Thrones characters, such as Daenerys Targaryen. It is based on his book, Fire and Blood HBO’s return to Westeros, and its prequel show’s addictive blend of scheming dynasties, gory violence, and arguably gratuitous sex, has boasted solid numbers and drawn generally warm praise from critics. The show’s premiere drew 9.98 million viewers in the United States, making it “the largest audience for any new original series in the history of HBO,” the television network’s owner, WarnerMedia, said in a statement earlier this week. Game of Thrones ran for eight seasons between 2011 and 2019, and other spin-offs are in the works. Some analysts noted that that title drew a whopping 17.4 million viewers to the debut of its final season. Still, the House of the Dragon premiere represents a success for newly merged Warner Bros Discovery, which is under intense scrutiny as it tries to navigate the rapidly changing entertainment landscape dominated by the so-called “streaming wars.” On September 2, fierce competition will arrive in the form of The Rings of Power, another swords-and-dragons-themed epic of the small screen, this time taking place in J.R.R. Tolkien’s Middle Earth, and created by retail giant Amazon’s own streaming platform Prime Video. In the Philippines, House of the Dragon debuted same time as the U.S. on August 22 on HBO GO.
AFP
KAPAMILYA artists Moira Dela Torre, Gigi De Lana, and BGYO show no signs of slowing down when it comes to demonstrating the impact of Original Pilipino Music (OPM) as some of their songs recently recorded streaming milestones on Spotify and YouTube. Moira, who breached one billion all-time streams on Spotify last December, continues to prove her songwriting talent and unique storytelling through music as two of her recent singles “Kumpas” and “Dito Ka Lang” recorded millions of digitalThestreams.theme song 2 Good 2 Be True starringBernardoKathryn and Daniel Padilla moreaccumulatedonmillionovergarneredhas“Kumpas”sofar15.5playsSpotifyandthan17millionviewsonYouTube,includingitslyricvideo,lyricvisualizer,and official audio. the other hand, “Dito Ka Lang,” Moira’s Tagalog ofinterpretation Flower of Evil’s theme song “In My Heart,” has already earned over 2.6 million YouTube views and a million SpotifyMeanwhile,streams.breakout singer Gigi De Lana’s version of “Bakit Nga Ba Mahal Kita” – the very song she performed online that made her viral—has also reached 1.1 million streams on Spotify. It is part of Gigi’s eponymous debut album released this January.BGYO also continues to reap highlightscareeras Gelo, Akira, JL, Mikki, and Nate’s “Best Time” single, the theme song of the popular youth series He’s Into Her season 2, now has over 1.1 million streams on Spotify. BGYO and sibling group BINI were also among the four P-Pop groups that won Group of the Year at the recent TikTok PH Awards 2022. Moira, Gigi, and BGYO are under the rich talent roster of ABS-CBN Music, which regularly produces and releases songs from its music labels Star Music, Star Pop, DNA Music, and Tarsier Records that cater to niche audiences in the Philippines and worldwide.
Asis (seated, second from right) with friends and members of SPEEd
Cynthia, a determined young woman from a hardworking but happy family, works as a nurse to support herself and her loved ones. She got laid off from her job leading her to take on a new gig as a home care nurse for a grumpy old lady. Challenges come her way, and it was then that she found support from a stranger named Franco. Franco, on the other hand, is this charismatic guy who walks easily in the world of business, yet hides some secret and deepseated pains. Cynthia would later fall in love with Franco but as their relationship deepens, Franco shows his other side. She begins doubting him and questions if he is still worth fighting for. Meanwhile, here comes Lucas, with his romantic playboy persona yet is actually a very sensitive guy, who will try to mend Cynthia’s broken heart. This is when viewers will really feel the need to be glued to the show as questions arise. Is it possible to succeed both in love and in your career or do you only have to choose one, and let the other suffer? How far must someone go and sacrifice for the sake of his/her family? Such old-age questions. These are all serious issues yet the cast under the helm of award-winning director Jeffrey Jeturian was able to put together a light, warm-hearted story that’s worth following from start to finish. At a recent media conference via Zoom, the Kapuso stars bared their feelings on this latest project they are working on. “Isa ito sa mga dream role ko, someone with a complex background kaya mysterious Perfect project siya para sa age namin dahil ito ‘yung phase na ang daming uncertainties sa buhay, hindi pa masyadong kilala ang sarili and may mga what ,” Miguel shares. Ysabel, on the other hand, admits that she feels pressured on her first lead role, Definitely kinakabahan ako pero at the same time, confident ako na maganda ang nagawa namin. Nakatulong din sa akin ‘yung support system at teamwork namin ni Miguel. This project is a good chance for us to experiment and learn as actors.” Yasser considers this show as a major turning point in his career, “Ang laking project nito at achievement siya sa buhay ko. Nagsimula ako from scratch sa showbiz and ngayon, binigyan ako ng opportunity to work with a great cast. Para sa akin, kahit ano namang i-offer na project, lagi ko lang binibigay ang best ko.” Joining them is a powerhouse cast of some of the country’s most respected artists in film and television including Soliman Cruz, Aleck Bovick, Pamela Prinster, Hailey Mendes, Lia Salvador, Bimbo Bautista, EJ Jallorina Joel Saracho, Art Acuña, Vince Crisostomo, Joyce Ann Burton, and Celeste Legaspi Known for producing box office movies like English Only Please, #WalangForever, Ang Babae sa Septic Tank, and Ekstra, Quantum Films now ventures into the TV scene in collaboration with the Philippines’ leading broadcast company, GMA Network.GMA’s First Vice President for Program Management Department Joey R. Abacan reveals why the network green-lighted the first collaboration with Quantum Films, It was a walk in the park and I wouldn’t endorse itkung hindi maganda. When I watched the output, nagulat ako. Kasi sa script pa lang at pagkaka-direk, ang husay na. I hope masundan pa ang aming collaborations. Quantum Films Chief Operating Officer Atty. Joji Alonso, in turn, is grateful to GMA-7 for giving them the platform to tell this heartwarming story, I’ve been pitching kay Joey for so many years dahil gustung-gusto ko talaga gumawa ng TV series GMA was very helpful in seeing this projectCatchthrough.”thepremiere telecast of What We Could Be tonight at 8:50 on GMA.
Nickie
By Joba Botana
These music acts reach millions of streams on Spotify, Youtube
BGYO Yasser (left) considers the show as a major turning point in his career and is grateful for the opportunity to work with a great cast Miguel (left) sees the project as his dream role while Ysabel admits to feeling pressure at firstseries to melt
Feel-good
ready
THE Society of Philippine Entertainment Editors (SPEEd) has announced that the group unanimously elected Eugene Asis, People’s Journal entertainment editor, as president. Asis co-founded what initially began as a social club for entertainment editors of the national broadsheets and top tabloids with the late Manila Standard entertainment editor and SPEEd’s president emeritus, Isah V. Red Immediate past president Ian Farinas of People’s Tonight, turned over the post to Asis, full of confidence his decades-long experience in the industry and unwavering vision to help uplift the quality of Filipino movies to global standards will steel the group and further its success. Asis started his career in journalism in the early ‘80s as writer for Kislap, Liwayway, Jingle Extra Hot, and Orig Magazine where he eventually became editor in 1982. He has been editor of People’s Journal’s entertainment section since 1990. Eventually dabbling into writing and directing movies, it is his front-row seat in the ups and downs of the local movie industry that has long made Asis an authority in local show business. He is also a recipient of the Gawad Amerika and Guild of Educators, Mentors and Students (GEMS) awards as Entertainment Editor of the Year. Asis’ top priority as he assumes the leadership of SPEEd is to mount the 5th edition of The Eddys or The Entertainment Editors’ Choice movie awards by November. Meanwhile, the group unanimously decided as well to keep the current roster of officers through to the new biennial term as follows: Tessa Mauricio-Arriola (The Manila Times) is Vice President External; Salve Asis (Pilipino Star Ngayon and Pang-Masa), Vice PresidentInternal; Maricris Nicasio (Hataw), Secretary; Gie Trillana (Malaya Business Insight), Asst. Secretary; Dondon Sermino (Abante), Treasurer; Dinah Ventura (Daily Tribune), Asst. Treasurer; Nickie Wang (Manila Standard) and Ervin Santiago (Bandera) as co-PROs; and Nestor Cuartero (Tempo) as director and advisor. The rest of SPEEd’s members include Rito Asilo (Philippine Daily Inquirer), Jerry Olea (Philippine Entertainment Portal), Rohn Romulo (People’s Balita), Janiz Navida (Bulgar), and Neil Ramos (Tempo).
viewers’ hearts
A scene from HBO’s ‘House of the Dragons’ ‘House of the Dragon’ renewed for second season Journal’s Eugene Asis is new SPEEd
‘What We Could Be’ stars (from left) Miguel Tanfelix, Ysabel Ortega, and Yasser Marta from to secret very din hindidamingpa ifs Thisteamworkproject projectcareer, delaMoiraTorre LanaDeGigi
Break the fast with ‘silog’ and Pinoy fare
By Glaiza Lee WE’VE heard it a thousand times: Don’t skip breakfast.Andthere are good reasons for why we should always make room for the most important meal of the day. For one, breaking the fast jumpstarts the body metabolism which, in turn, helps burn more calories. Studies show that people who often skip break fast tend to have a higher body mass index (BMI). This is because when a person skips eating a meal in the morning, the body conserves rather than burn the Severalcalories.studies found different benefits of eat ing breakfast to start your day. Aside from hav ing a lower BMI, people who eat breakfast tend to consume less fat and have high calcium and fi ber intake. They also meet the recommended fruit and vegetable consumption, and avoid unhealthy snacks. With a full tummy early in the morning means having better performance throughout the day. It is also easy to manage weight, meaning less likely to be Eatingoverweight.breakfast doesn’t mean eating just any thing. It also entails making good breakfast choic es, not to mention it should be sumptuous. Guevarra’s by Chef Rolando Laudico offers breakfast buffet that will have anyone scrambling out of their Availablebed.every Sunday from 7:30 to 10:00 a.m., the breakfast buffet features a spread of Filipino all-time breakfast favorites, including silogs.“My inspiration for our breakfast buffet is based on Pinoys’ love for silogs (sinangag-itlog) so you can pretty much create your own garlic sinangag rice with any style of eggs and mains,” describes Chef Laudico, popularly known as Chef Lau. He heads the Guevarra’s kitchen together with his wife, Chef Jackie Choices for the silog mains include: the gar licky Vigan longganisa daing na bangus , crispy Danggit , and chicken pork adobo , plus the typical morning mainstayshotdog, bacon, and corned beef. Angus beef tapa, the house specialty, is also part of the buffet offerings. Be sure to be an early bird for this best-seller because the queue can get crowded in this part of the buffet.
“It’s [really] good that we’re having this face-to-face now. You can [really] feel the Kadayawan vibe. The festival is spearheaded by the LGU of Davao. We are supporting in terms of promoting the festival,” she said. Dabawenyos celebrate Kadayawan as a thanksgiv ing event for nature’s blessings, rich cultures, bountiful harvests, and peace. It also pays tribute to the region’s 11 indigenous and Moro tribes. The word “Kadayawan” comes from the Dabawenyo greeting “Madayaw,” from the word “dayaw,” meaning good, valuable, superior, or beautiful.The37th Kadayawan Festival lasted for several days, with various events happening across the city. Our group, composed of several lifestyle writers and vlog gers, went on the last three days, from August 19 to 21. On the first day, we, among other Dabawenyos, flocked to the People’s Park to witness the 11 tribes participate in Dula Kadayawan, a showcase of indigenous games to raise awareness about the culture of the indigenous and Moro communities in the region. By the time our group arrived at the park, we had seen two tribes battling each other in a game of tug-of-war. My favorite, on the other hand, was the Sipa Mangis Participants kicked a ball upwards to hit several balls in a hanging pyramid. The tribe that kicked the most balls down and scored the highest points wins. It was refresh ing to see because the tribe members thoroughly enjoyed the games. They encouraged, consoled, and supported each other no matter the outcome of the games.
Tourism industry, bustling once again
Among Guevarra’s house specialties is the Angus Beef Tapa
Life
By Patricia Taculao
PHILTOA’s 33rd Philippine Travel Mart The Philippine Tour Operators As sociation (PHILTOA) is back with the longest-running interactive tour ism expo, the Philippine Travel Mart (PTM), now on its 33rd year. After a two-year hiatus, this year’s theme is “Safe Travels”. With at least 70 mil lion Filipinos fully vaccinated and tourism outlets welcoming foreign tourists, a safer and more relaxed environment awaits eager travelers looking for memorable adventures.
YOUR MONDAY CHUCKLE Grandchildren don’t make a man feel old. It’s the knowledge that he is married to a grandmother that does!
PHILTOA President Fe AblingYu has lined up very affordable domestic and international tour packages at the 33rd Philippine Travel Mart
IT’S been four years since I first went to Davao for bleisure. I’ve always admired the province’s rich culture, which the locals highlighted with every chance they get. Although I went in August then, I didn’t get the opportunity to experience Davao’s Kadayawan Festival. Davao is known as the King City of the South, Mind anao’s Crown Jewel, and the Fruit Basket of the Philip pines, among others. Despite several festivals and cel ebrations highlighting its diverse culture, its Kadayawan Festival takes the cake. This year, I got the chance to witness the province’s highly-anticipated festival firsthand. The best part about it is that after two years of holding the Kadayawan Fes tival online, the local government unit, under the leader ship of Davao City Mayor Sebastian Duterte, decided to bring the festival back to the streets of Davao. Since it was the first festival across the country held physically, the Davao LGU and the Department of Tour ism (DOT) Regional Office XI worked hand-in-hand to promote the event to ensure everyone enjoyed the fes tival.DOT XI regional director Tanya Rabat Tan was ec static to see the Dabawenyos and members of the tribes enjoying the festivities as they braved the tropical heat and adhered to strict health protocols.
Participants of the competitions during the 37th Kadayawan Festival showcase their talent through well-prepared performances
People’s Park Davao is a spacious area that highlights the region’s heritage, making it the prime location to celebrate the first day of the 37th Kadayawan Festival
“Our Angus Beef Tapa takes a long time to pre pare. We first marinate it, then it’s oven-dried and finished on the grill to give that distinctive smoky flavor,” discloses Chef Lau. To complete your silog , head to the egg station where you can have your eggs any which way you want – scrambled, omelette, sunny-side up and what have you. But of course, Guevarra’s buffet offers much more than just silogs . They have a bread cor ner piled with ensaymada pan de coco , Spanish bread, along with various pizzas with uniquelyinspired local flavors such as tocino and tuyo , to name a few. The salad section, meanwhile, have enticing options like ensaladang talong with salted egg, macaroni salad, and potato salad, among others. There are also the breakfast staples such as champorado, arroz caldo , waffles, pancakes, ce reals, and yogurt, among others. There should always be a room for desserts with a medley of popular kakanin such as the palitaw, sapin-sapin, pichi-pichi, and others. Guevarra’s breakfast buffet has roughly 40 dish es, more than enough to satisfy all your cravings and power you through the day. At P499 net per person, it is an excellent deal.
THOSE of us in the tourism indus try are now grinning from ear to ear as we see the surge of events that signal the movement of our indus try towards its pre-pandemic hey day. Although not quite there yet, with all sectors coming alive with their respective promotional activi ties, we know we’ll get there in no time.
The buffet set up at Guevarra’s
The return of the king
“Everything is prepared from scratch using the freshest and best ingredients. No shortcuts, no ar tificial flavorings, and no MSG,” guarantees Chef Jac who shares that lunch and dinner buffet are also available daily at P699 net per person. Guevarra’s by Chef Laudico is located at 387 P. Guevarra corner Argonne Streets, Ad dition Hills, San Juan. For inquiries and reser vations, you may reach them through (02) 8705 1811 / (02) 8705 1874 / (0998) 881 3200 or visit @guevarrasph on Facebook and Insta gram.
HSMA’s SOS The Hotel Sales and Marketing Association of the Philippines (HSMA) is, once again, mak ing it easy for everyone to have their dream staycations anywhere in the country at very affordable rates. Now in its third year, HSMA’s Sep tember Online Sale (SOS), with this year’s theme “Eat. Stay. Love,” offers as much as 75 percent discount on hospitality packages, which include room stays, weekend getaways, reju venating spa experiences, enriching recreational offers such as packaged group tours, and delicious food and beverage deals. Travelers can also look forward to planning more life milestones through SOS, since the fair will also offer discounts on res taurants, meetings and conferences packages, and banquet occasions, such as weddings, debuts, and en gagement parties, among many oth ers. From Metro Manila to the South ern Tagalog region, to popular beach destinations in Boracay, Palawan, Bohol, Cebu, and Davao, there’s a deal for everyone at this month-long travel fair that will showcase 78 re sorts and hotels. The best part is that anyone can avail of these gigantic discounts from the safety and com fort of home, by just clicking on the SOS website https://www.hsma.org. ph/sos/ All vouchers bought will have no expiry date. Last year’s SOS sold over 5,100 vouchers, or an equiva lent of P29.2 million in gross sales. To stay updated on additional offer ings, follow HSMA’s Facebook page at www.facebook.com/HSMAPH and Instagram account at @HSMAPhil ippines. Park Inn By Radisson North EDSA The hotel has now reopened its doors to purely leisure and business travelers, after two years of being a multi-use hotel, taking in guests on health quarantine. To celebrate its new status, the ho tel has pumped up the guests’ crav ings with delicious and hearty offer ings at its main dining room, the Casa Urban Table. To start with, the most sought-after Grill and Serve Unlim ited Korean Barbecue is back on weekends (Friday to Sunday). New delectable a la carte dishes like Beef Ribs Adobo, Salpicao, Shrimps and Cashew Pasta, Sopa de Arroz, and many more are available any day. Guests can cool down after a long day with the hotel’s Sundown Chill out Happy Hour (5:00 p.m. to 7:00 p.m.) where two alcoholic drinks can be had for the price of one. Of course, those guests in a hurry, need ing a quick bite, can easily get salads, breakfast bowls, sandwiches, pasta and baked desserts from Dash, the grab-and-go outlet that is open 24/7. For those looking for an events venue, the Park Inn by Radisson North EDSA has two versatile spaces that are perfect for intimate gather ings or large events. Its additional advantages are the location, which is right next to the SM City North EDSA shopping complex, the 24hour transportation service, and free parking.The hotel may be reached through (02) 7944-1888 or rado@gmail.comcomervations.northEDSA@parkinn.resForfeedback,I’matbobzozobGuests can view the exterior and interior of tribal houses at the newly renovated Kadayawan Tribal Village
Davao brings 37th Kadayawan Festival back to the streets
On the second day, our group observed the Indak Indak sa Kadayawan from a good vantage point. The event is an annual street dancing competition where par ticipants take to the streets to give a lively performance that interprets a story, legend, myth, or tradition based on the lives of Davao’s 11 indigenous and Moro tribes. Aside from their performance along the city streets, par ticipants also battled it out for a grand showdown at San PedroParticipants,Square. Davao-based and hailing from other parts of Mindanao, clearly missed the adrenaline of performing for a crowd. Aside from their well-prepared costumes, props, and choreography, their energy was compelling as they kept the crowd engaged throughout theirYetpresentations.thefestivities didn’t end there. We traveled to the Kadayawan Tribal Village in Magsaysay Park in the af ternoon to get a firsthand glimpse of the culture of the tribes, from their housing, clothing, food, accessories, lifestyle, and more. It was a humbling experience to see the rich heritage of the tribes and even more so when they invited us to try it for ourselves. The Kadayawan Tribal Village is among the sig nificant locations during the Kadayawan Festival. The Davao LGU fast-tracked its renovation to coincide with its reopening last August 5. However, bringing back old traditions wasn’t the only surprise the LGU had in store for the guests at the festival. For the first time, the Kadayawan Festival welcomed a new musical competition: the Agong Kulintangan The contest features the region’s musical instruments, such as a large hanging kettle gong called the agong and a row of small gongs called kulintang. Seven groups representing some of the 11 tribes gave spellbinding performances. Cash prize aside, they gave it their all to showcase how their community values mu sic. They incorporated songs, stories, and choreography to make their presentation more compelling. Moreover, the groups also featured members of different ages, from young to old, and how they uphold their musical heritage. By its last day, the 37th Kadayawan Festival ended with a grand floral float parade called Pamulak sa Da lan. Besides the floral elements, participants, ranging from private to public individuals and organizations, added their flair to their floats. Many added symbols of Davao, while others embellished theirs with designs particular to their organizations, and several incorporat ing music or featured known celebrities to become more distinct.Onething’s for sure, the people in Davao reveled in the Kadayawan Festival’s return to the physical world. Throughout our three-day visit, we stayed at the Roy al Mandaya Hotel. We also visited other tourist sites, in cluding the Davao City Library and Information Center, Poblacion Public Market, and Davao Crocodile Park. Our tummies were also satisfied thanks to our stops at Hilltop View Deck and Life Cycle Coffee, Marina Tuna Seafood Restaurant, Balik Bukid Farm and Kitchen, and Eden Nature Park and Resort, completing our ex perience of Davao. With the Kadayawan Festival marking Davao’s open ness to welcoming tourists again, the LGU and its stake holders are intensifying their efforts to ensure that the region remains a prime tourist destination. On August 24, Cebu Pacific Air increased its flight frequency between Davao and Zamboanga from five to seven times weekly. The airline currently flies eight times daily from Manila to Davao, three times daily from Davao to Cebu, three times weekly from Davao to Bohol (every Wednesday, Friday, and Sunday), and daily from Davao to Iloilo. The airline continues to offer its guaranteed low fares to stimulate travel across its broadest domestic network and implements a multi-layered approach to safety. Visit www.cebupacificair.com for more information.
C4 MONDAY, AUGUST 29, 2022 Nickie Wang Editor Joba Botana Associate Editor Patricia Taculao, Editorial Assistant E-mail: lifeandshow.manilastandard@gmail.com
PHILTOA President Fe Abling-Yu announced that the three-day event starts on September 30 and will fea ture very affordable travel packages to 200 local and international destina tions. With sustainable tourism and community engagement in mind, the PTM only partners with reputable agencies and businesses. This yearly event highlights new discoveries for travelers to explore, while also showcasing the best is lands in our archipelago. With all regions in the country participating, availing of the attractive tour pack ages in the PTM is the best way to experience the wonders of Luzon, the riches of the Visayas, and the colors of Mindanao. You will also be daz zled by the interesting tour packages to breathtaking Bali, historic Siem Reap, and bustling Ho Chi Minh and, of course, the highly popular desti nations in Japan, China, and South Korea. More information on the PTM, which will be held at the SMX Con vention Center Manila, is available at www.philtravelmart.com or through the PHILTOA Secretariat at (632) 8812-4513, (632) 8822-6964, (632) 8925-6265, (+63) 922-816-2772, or philtravelmart@philtoa.com
HSMA Chairperson Margie Munsayac has enlisted more resorts and hotels this year, offering gigantic discounts at HSMA’s September Online Sale
MONDAY, AUGUST 29, advertise@manilastandard.netextrastory2000@gmail.comwww.manilastandard.net2022 D1
THE Philippine economy is way past the green shoots of recovery. It is close to firing on all cylinders and is about to reach the pre-pandemic level of business activities. All the economy needs now is to step on the gas and go full speed ahead. Economic managers are pushing for the full reopening of the economy to further increase domestic activities to sustain the robust gross domestic prod uct expansion of 7.8 percent in the first half of 2022. The first-half growth was significantly faster than the pre-pandem ic level average of around 6 percent in 2019.Economic Planning Secretary Arsenio Balisacan said the full reopening should include the resumption of face-to-face classes, which the government just did on Aug. 22. “We are committed to pursuing the country’s full reopening, including the return of face-to-face schooling to ad dress the learning losses and increase domestic activities. This push will be gin with the health sector’s efforts to increase [COVID-19 vaccine] booster uptake,” Balisacan said following the release of the first-half GDP data early thisBalisacanmonth. was referring to the recent launch of the “PinasLakas’ campaign of the Department of Health, which aims to boost 50 percent of the 78 million target population within the first 100 days of the Marcos administration. The move will allow more areas to de-escalate to Alert level 1 and, eventually, fully re move restrictions that hinder economic activity.“The full reopening of the econ omy will indeed generate more in come-earning opportunities,” said Balisacan.Timely changes in COVID-re lated policies, such as easing alert levels, removal of tourism restric tions, and accelerated vaccine roll out, helped increase economic ac tivities in the first half. Around 85 percent of the Philippine economy is already under Alert Level 1 as of June“That2022.these changes were implement ed during the recently-held national and local elections demonstrate that, indeed, ‘living with the virus’ is possible,” Bali sacanFinancesaid. Secretary Benjamin Dio kno said the second-quarter GDP growth of 7.4 percent affirmed the country’s bright economic outlook despite headwinds coming from ac celerating inflation rate, the war in Eastern Europe and rising interest ratesDioknoglobally.reassured the public that the economy is on a steady path to recovery and expansion, adding that the strong growth in the second quarter reflected the increase in mobility, better labor conditions, and government’s support to growth.“Inorder to achieve the lower bound of the growth forecast of 6.5 percent, the Philippine economy has to grow by only 5.2 percent in the second half of the year. To achieve the upper bound of 7.5 percent, the economy has to grow by 7.6 percent,” said Diokno.
By Julito G. Rada
Significant economic gains show ‘living with the virus’ is possible
Emerging industries
Trade Economic ArsenioSecretaryPlanningBalisacan
More jobs: Safe reopening pays dividends to economy
THE pandemic ushered in a new normal—a working lifestyle that features innovations, greater reliance on digital technology and a reconfigured sup ply chain. It is a new normal that will stay on for a much longer time and an affir mation of the adage that necessity is the mother of invention The Department of Trade and In dustry plans to build on the ruins of COVID-19 by encouraging all in dustries to embrace and pivot to the new normal and use the pandemic as an opportunity for economic trans formation.“Aswe have experienced in the last two years, the pandemic has marked a shift toward digitalization, hybrid working setups, and reconfig ured supply chains. We view these structural changes as an impetus for accelerated growth and inclusive development,” said Trade Secretary Alfredo Pascual. The DTI is keeping tabs on a set of strategic priorities as it leads trade and manufacturing industries to transform toward increasing the share of science, technology and in novation (STI) sectors in the coun try’s gross domestic product (GDP). The DTI stressed the importance of implementing an inclusive, sus tainable and resilient industrial policy to build a more competitive economy, as the country enters the post-pandemic future.
The DTI will support a leapfrog into emerging industries by modernizing the country’s manufacturing base, implementing innovation and digital transformation plans for manufacturing development, and upgrading the nation’s participation in global technological platforms, leveraging fourth industrial revolution (4IR) technologies and existing industrial strengths and competencies.Itcommitted to focus on pro moting three strategic clusters that are currently undergoing global reconfiguration. These clusters –industrial, manufacturing,and transport; technology, media, and telecommunication; and health and life science—will allow the Philippines to upgrade, diversify and reposition its global value chain participation. The industrial, manufacturing, and transport cluster provides the coun try with upgrading opportunities in aerospace, automotive and semicon ductors.The Philippines already hosts the number one aircraft interiors company in the world—Collins Aerospace—and the world’s lead ing aircraft maintenance, repair, and overhaul company—Lufthansa Technik. The DTI recognizes the need to attract other suppliers and expand the cluster.
“The quality of jobs has improved, too. The average weekly hours worked by an em ployed worker in June was estimated at 40.3 hours per week, up from the mean hours worked in May (39.8 hours),” said Diokno said.
More value-added Since the common thread among all the three industrial, manufactur ing, and transport subsectors is the electronics and electrical parts and components global value chains, the DTI plans to attract foreign direct in vestments to design capacity, so that more value-added is captured and manufacturing is expanded in the country.Thesecond cluster—technology, media, and telecommunication— gives the Philippines opportunities for digitalization of services. One of the key players in the sec tor, the business process outsourcing (BPO) industry, follows a key trend, which is to switch from cost saving to value addition. It is expected that the next decade will be notable to the BPO segment as a cross-cutting contributor to the competitiveness and efficiency of other global value chains it supports. Since 82 percent of BPOs and shared services centers in the Philip pines serve global markets, the DTI said BPOs can be channeled and used to leverage the country’s par ticipation in the technology, media, and telecommunication global value chain.The third cluster is health and life science, where the DTI aims to make the Philippines self-suf ficient in pharmaceuticals, medi cal devices, healthcare services, personal health wellness technol ogy products, therapeutic systems addressing chronic diseases, tele medicine solutions, and AI-assist edPascualdiagnoses.noted the DTI is well aware that this particular cluster plays a strategic security role and opens income-generating opportuni ties in the country. The DTI is working at having smaller, innovative, more agile phar maceutical companies taking a more critical role in bringing medicines to the market.
By Othel V. Campos
Digitalization, hybrid working set-ups emerge after COVID-19
In terms of hours of work, full-time em ployment, or those who worked for more than 40 hours a week, increased substantially by 11.0 percent or an additional 3.0 million in dividuals, while part-time workers declined 8.0 percent or 1.4 million fewer individuals compared to June 2021. Correspondingly, the mean hours of work improved from 39.0 in June 2021 to 40.3 in June 2022. Balisacan said that the immediate and safe resumption of face-to-face classes is anticipated not only to increase domestic activities but also to prevent future productivity losses. Stronger health system With this, the Department of Health launched its new campaign, “PinasLakas,” which aims to scale up the vaccination of booster doses nationwide. To increase their accessibility, vaccination stations are placed in high-traffic areas such as terminals, schools, malls, plazas and places of worship.
“We will initially bank on foreign investments that bring in technolo gy and capital to spawn the growth of our industrial base with local companies as component suppli ers. For instance, the transition to electric vehicle (EV) production will fundamentally transform the automotive global value chain. We will encourage local companies to enter the EV global value chain with components supply,” said Pascual.Onthe other hand, the semicon ductor industry can benefit from the recent boost in digitalization amid the COVID-19 pandemic. Out sourced Semiconductor Assembly and Test, or OSAT, is vulnerable to disruptive technologies and, thus, needs to be supported by improving the skills set for research and devel opment.
By Julito G. Rada LESS COVID-19 restrictions and the shift to an endemic mindset are creating more jobs in theAPhilippines.safeandfull reopening of the economy, says the National Economic and Develop ment Authority, will reinvigorate job creation as proven by the latest employment data. Data from the Philippine Statistics Author ity showed the country’s unemployment rate in June 2022 significantly declined to 6 per cent from 7.7-percent in the same period last year.Over 1.5 million Filipinos joined the labor force in June from the same month in 2021, bringing total employment to 46.6 million. Employment also grew across all sectors, particularly in the industry, agriculture, and services sectors amidst the easing of restric tions.“In the near term, we will prioritize the immediate issues of rising inflation, the vul nerability of certain groups to shocks, and the pandemic-induced scarring to ensure that growth and employment gains are sus tained,” says Economic Planning Secretary Arsenio Balisacan. Boost to economy The reopening of the economy, including the resumption of face-to-face schooling, is expected to boost domestic activities further and insulate the economy against external headwinds.TheJune 2022 round of PSA’s Labor Force Survey showed the country’s under employment rate―the proportion of those already employed but still wanting more work―dropped further to 12.6 percent from 14.2 percent in June 2021.
“As we continue to fully reopen the econ omy, we must remain vigilant and adhere to minimum health standards to ensure that Filipinos remain healthy and productive. We will also strengthen our health system to en sure that it is able to effectively and quickly respond to health situations as and where needed,” Balisacan said. He said adjusting to the “new normal” and gradually shifting to an endemic mindset is critical in generating more employment and strengthening the domestic economy. Finance Secretary Benjamin Diokno said the jobs market has continued to improve.
AlfredoSecretaryPascual
“The latest data show a significant increase in the number of workers employed on a fulltime basis. While this is a good indication of the improving quality of work in our country, the government should incessantly boost its efforts towards providing an environment conducive to the creation of more and better employment opportunities,” Balisacan said.
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“By adopting science, technology, and innovation, as well as digital technologies, industries will be bet ter positioned to face competition in both domestic and export mar kets and pave the way for industrial transformation,” said Pascual. “We will push for upgrading to high-val ue-added activities, shifting to clean and efficient production, and ad dressing gaps in the local and global value chains.”
“We will put priority on projects that would contribute to the immediate turnaround of our economic recovery, and this means focusing on ongoing projects that are very vital in transpor tation continuity,” he says. Bonoan said the weak connection between the centers of economic activities has been an obstacle to economic development and a cause of the increasing income disparity between urban and rural areas.
“We will build more tourism infra structure to further enhance the experi ence and entice tourists to explore and spend more, for the benefit of micro small and medium enterprises in the localities, creating more jobs and in come for everyone,” he added.
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By Darwin G. Amojelar
“We shall see to it that the interisland mega bridges with on-going construction will be fully completed,” he added.
Bigger railway network
In terms of railway network, Bonoan said the government aims to improve the total passenger experience in Metro Manila’s existing railway lines by implementing expansion and reliability improvement programs with the cooperation of the current and future railway operators.
A HOME OF ALLVALUEINNOVATION—THEADVANTAGE
LIKE FAMILY—VISTA MALL AND ITS CLOSENESS TO THE COMMUNITY
More roads, rails and bridges
NOMO―A Vista Lifestyle Center―in Bacoor will have you walk through a lush selection of flora as your opening salvo before you regard its many retail outlets. This is the DNA of design implemented across the Vista Mall chain and seen especially in community favorites such as Vista Mall Bataan, Vista Mall Global South in Las Piñas, and Vista Mall Malolos. Beautiful scenery and ambiance like these, while uncommon in the Philippine mall landscape, are fixtures for the Vista Mall chain.
“We believe in breathing new life into Filipino experiences―and this is clearly evident in each Vista Mall,” says Camille Villar, Managing Director of the Vista Land Commercial Division. “Vista Malls are built to elevate the experience of simply malling―an experience where people can enjoy a curated selection of shopping outlets crafted for true joy, but mindful of the essentials. Our mall experience integrates wonderful retail and food finds as well as innovative customer touchpoints into a decidedly beautiful space―a beyond-the-box experience that is not limited to “four-wall” templates common with most malls today. We believe our mall experience uplifts the Filipino because they simply deserve better,” she adds.
Bonoan said the government would also prioritize the construction of more bridges crossing Pasig River, Marikina River and Manggahan Floodway to improve the logistics network of Metro Manila.
MODERN and infrastructureefficient projects are the ideal landscape for an expanding economy.Theyconnect the countryside to major urban centers and, thus, bridge the income gap, lead to the creation of new economic hubs, and provide more job opportunities.
The agency will build infrastruc ture that supports the development of priority tourism areas to jumpstart the growth of the emerging destinations.
The government will also strengthen is efforts to promote active transport by building more pedestrian infrastructure and bike lane networks,” he says.
The government vowed to build more road and bridges over the next six years to address the perennial traffic congestion in highly-urbanized areas in the country as well as revive the Philippine economy from the global Presidentpandemic.Ferdinand Marcos Jr. has ordered Public Works Secretary Manuel Bonoan to prioritize the implementation of ongoing projects, especially unfinished bridge projects and critical infrastructure that will address traffic congestion, and promote interregional connection.
“The government will also intensify its efforts to implement programs that will ensure that the country will have a sustainable, secure, sufficient and accessible energy,” Bonoan said. “Despite all these infrastructure developments, we have to balance progress without compromising the environment.
Vista Mall, in addition to being a destination for well-loved food and retail concepts, is the home that incubates new and exciting ideas from AllValue, the Villar Group’s holding company for its investments in the retail industry. In each Vista Mall, one will typically find the pioneering one-stop home center AllHome, an elevated grocery shopping experience in AllDay Supermarket, the absolutely Instagrammable Coffee Project, the country’s first letter-writing café Dear Joe, freshbaked artisan pastries from Bake My Day, and hip watering holes like Sombrero―components of a unique retail ecosystem that provide a distinct advantage and convenience to shoppers. In addition, the mall experience is a family affair after all, and sometimes, it is actually the children who decide which mall to go to. This is why Vista Mall is the home for unique concepts such as Kinder City and AllToys, experiences crafted for children that allow for both wonder and discovery. Of course, you cannot have a mall without a cinema―another industry in which the Villar group prizes innovation. Vista Cinemas are decidedly the best when it comes to bringing the best silver screen experiences to the people through premium, state-ofthe-art cinema technology in each of its theaters. In fact, the Evia cinemas feature the first iMAX with Laser Theatre in Southeast Asia. When taken together, this retail ecosystem offers a robust store line-up that caters not only to the shopper’s essentials but home improvement needs, food options, a cup of coffee, and even a short break for your kids through playtime―practically anything they might need at a given time. This allows each shopping trip to be efficient, comprehensive, and fulfilling.
“We will fast track the completion of the projects under the Luzon Expressway Network Program to reduce travel time from Ilocos to Bicol from 20 hours to 9 hours,” he says.
“We will also prioritize the early completion of the on-going railway projects to further expand the total rail network of the country,” he added.The government targets to increase the total route length of the country’s railway from 77 km in 2016 to 1,209 km.The country’s railway length of 77 km is the shortest among major Asian cities, including Jakarta’s 170.2 km., Seoul’s 490 km., Tokyo’s 700 km. and Shanghai’s 690 km.
Where other malls are typically located in the crushing urban grind of Metro Manila’s dense cities, Vista Malls― owing to its synergy with Vista Land, the country’s largest homebuilder―are located closer to where people actually live. Vista Malls have earned its place as centers of community. Each location is adjacent to large swathes of established residential areas anchored by Vista Land developments, making them more accessible, and in turn, providing convenience and delight to millions of loyal customers.
“Expanding the country’s highways and expressway network will alleviate over concentration of population and development in the urban areas and will give way to regional development,” he added. Under the ‘Build Better More’ of President Marcos, the government committed to spend some five to six percent of the gross domestic product (GDP) for infrastructure annually between 2023 and 2028. Bonoan said the government aims to further increase the country”s standard highways and expressway from 510 kilometers to 1,816 kilometers.From July 2016 to May 2022, the DPWH has constructed, maintained, widened and improved a total of 40,080 kilometers of national roads, 6,854 national bridges and 13,917 flood-control projects.
Tourism development
Further, Vista Malls are key transport hubs of yet another Villar affiliate, MEX, allowing for the free and easy commute of mallgoers.Inaddition to providing them the essentials, Vista Mall curates tenants specifically towards the needs of each location―such as kid-friendly services and businesses, petcare, outdoor sports, and most especially, a stage for local entrepreneurs and craftsmen. Vista Mall works closely with the Department of Trade and Industry (DTI), the Department of Agriculture (DAR), and the Villar Group’s own Villar SIPAG to initiate programs such as LIKHA and Go Lokal to help small businesses not only survive, but be given the proper spaces to thrive in challenging times.
INFRASTRUCTURE THRUST
VISTA MALL REDEFINES THE MALL
The government has vowed to enhance linkages towards seaports, airports and railways stations to further integrate infrastructure across modes of transport supporting all industries in the country. “To ensure food security, the government will be building more inclusive and sustainable farm-to-market roads based on a comprehensive network plan,” Bonoan said, adding access and connectivity to priority irrigation areas will also be improved.
MALLING is a national pastime, and albeit the short break we Filipinos had from strolling around carefree in these ubiquitous places thanks to the pandemic, there is no denying it―doing whatever it is that we do in malls is back, and with a vengeance. This is the stage on which Vista Mall shines. Developed by the Villar Group’s Vista Land & Landscapes, the Vista Mall chain is one that is punctuated with a single world: elevated. Each time you step into a Vista Mall, you feel a distinct design flow: wide, welllit walkways, seamless integration of both unique and well-loved retail concepts, essential stops and services, and innovative customer touchpoints―all wrapped in a world-class feel and ambiance. With lush greens, open plazas, and picturesque views, simply walking through a Vista Mall becomes a journey that distinctly feels outside the box of the ordinary.
“This should enable areas around the country to better prepare in the resurgence of arrivals of domestic and foreign tourists, as COVID-19 becomes endemic from pandemic,” Bonoan said.
FILIPINO
The government will also prioritize programs and projects that will further accelerate the build-up of digital in frastructure in the country and expand digital technologies and transforma tion efforts for good governance.
BEAUTIFUL SPACES FOR A LIFE MADE BEAUTIFUL With the economy again open to safely accommodate mall-goers, Vista Mall took the opportunity to highlight its many beautiful spaces. Leveraging a design sensibility inspired by the best shopping malls in the world, Vista Mall features locations such as Alabang’s Evia Lifestyle Center―famous for its luxurious and relaxed ambiance, thanks to a sunkissed feel all across the mall from its titanic glass atrium. Vista Mall Sta Rosa has also earned repute for its Singaporestyle hanging gardens―a welcome wash of greens in a traditional commercial setting.
Anothercategory.Meralco nomination that merited a bronze award was “Pay it Forward: Online Payment Options for Meralco Customers” under the Award for Innovation in the Use of Social Media category. Likewise, under the Award for Innovation in Brand Renovation / ReBranding category, “Meralco Advisory: Evolving for the Digital Audience” and “Meralco’s Bayad Center to Bayad: How a traditional bills payment brand authority in the Philippines adapted to the digital age” also received bronze citations for the proactive response to the evolving communication landscape.
OMF’s “Teacher Frontliner: A Back-to School Program to support Filipino Teachers as frontliners during the Pandemic” was also awarded gold as it was recognized as the most valuable non-profit COVID-19 response in the Awards for COVID-19 Response
The prestigious Stevie International Business Awards is an annual awards program started in 2002 and joined by top utilities and corporations to compete on professional achievements. It honors and generates public recognition of the achievements and positive contributions of organizations and working professionals around the globe and is one of the world’s most coveted prizes.
Meralco’s 2020 Corporate Reports was awarded Gold in the Award for Innovation in Annual Reports category at the 2022 Stevie Asia-Pacific Awards. It also won an Excellence Award for Communication Skills under the Publications category at the 2022 Gold QuillMeralco,Awards.through its internal campaign #AyokoMagViral, recognizes the importance of providing accurate information to its employees to keep them protected, healthy and safe, especially amid the pandemic. This campaign received an Excellence Award under the Internal Communication category at the 19th Philippine Quill Awards.
Besides winning at the Stevie IBA, the Meralco Group also received two (2) golds and three (3) bronzes at the 2022 Asia-Pacific Stevie Awards, which extends to organizations from 29 nations in the re gion, focusing on recognizing innovation in all its Bestingforms.various companies from different industries in the region in the Award for Innovation in Annual Reports category, Meralco won gold for its “2020 Corporate Reports”.
One Meralco Foundation’s (OMF) nomination, School Electrification Program: Energizing the country’s off-grid public schools during the COVID-19 pandemic, was awarded Gold as it was recognized as the Corporate Social Responsibility Program of the Year among nominations from Asia, Australia, and New Zealand.
The Quill Award is bestowed to compa nies, organizations, and institutions for the use of excellent communication programs, research, learning and development, and skills to achieve business goals and make a difference in society. None other than IABC President Belle Tiongco expressed her high regard for Meralco’s consistent excellent perfor mance in the Philippine Quill Awards, say ing: “For as long as I have been involved with the Quills, Meralco has always been a beacon of communications excellence. Meralco is a communicator that priori tizes its role as a mover, a force for good, in Philippine society. That’s a mindset, I believe, that organizations should emulate so that communications can really be a platform for national development. Mabuhay Meralco, for your performance in this year’s Quills.”
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Meralco PowerGen Corporation sub sidiary Atimonan One Energy, Inc. (A1E), meanwhile, received two (2) Excellence Awards under the Corporate Social Respon sibility category. “Kaisa sa Kabuhayan: Aplaya Sardines Enterprise with Atimo nan Fisherfolks” and “Kaisa sa Kalusugan radio health program” are both pandemic response programs that benefitted A1E’s host communities in Quezon province. One Meralco Foundation (OMF), the company’s social development arm, bagged four (4) Merit awards for “Household Elec trification Program: Powering-Up Com munities Amidst the Pandemic” “Meral co One for Trees: Helping Farmers Survive the Pandemic through Sustain able Reforestation”, “COVIDCOMMS 2021 Farmers to Frontliners and Mar ginalized (F2FM) Project: Invigorating the Livelihood of Farmers”, and “Stron ger Together-The 2020 MVP Academic Achievement Awards Virtual Ceremony” Other Meralco initiatives that received Merit citations were the following campaigns: “Unwavering Service and Malasakit amid the Pandemic and May-June 2021 Power Shortage” “Providing Consumers the Power During Summer”, “Meralco Corporate Partners Viber Community—Engagement When Connectivity is a Must”, “Ensuring our Stakeholders are Informed Despite Social Distancing: Quarterly Operating and Financial Media Briefings” “Putting Things in Perspective: Meralco Communicates the Upward Trend of Power Rates 2021” “Meralco’s 2020 Corporate Reports (Power On, Live Life and Give Hope)”, “Biyaheng Meralco: A Virtual Townhall with our CEO”, “Customer Experience Index (CXI): The Case of Meralco Business Centers”, “COVIDCOMMS2021: Meralco’s Facebook Page Keeping the Lights On in the New Normal”, and “MVP: The Man and His Art—A Visual Inventory of Filipino Artistry Gracing the Halls of Philippines’ Major Companies” Furthermore, Meralco also received two (2) recognitions from the Gold Quill Awards, an awards program organized by IABC that distinguishes excellence in stra tegic communication worldwide. The company won an Excellence Award for Communication Skills under the Pub lications category for its “Meralco 2020 Corporate Reports”, and a Merit Award for Communication Skills under the Social Media Category for its initiative, “Meralco Corporate Partners Viber Community: En gagement when connectivity is a must”. MERALCO GETS TOP AWARD FOR DEMONSTRATION OF TRANSPARENCY Another award-giving body that recog nized Meralco’s excellence in communi cations was the Anvil Awards, which is or ganized annually by the Public Relations Society of the Philippines (PRSP). Dubbed as “the Oscars of Philippine Public Relations”, Anvil Awards recogniz es outstanding programs, campaigns, and tools that showcase the highest standards of PR practice in the country. “Meralco’s 2020 Annual Report, “Power On,” won a Gold Anvil under the category of Public Relations Tool. In its Annual Report, the company reinvented its visual vocabulary, turning constraints into something fresh and new. Its writing was crisp in its narration of the challenges that brought out the grit and heroism of the company, its employees, and its partners. In addition to Power On’s Gold Anvil, Meralco also won four (4) Silver Anvils for its various campaigns that demonstrated customer service excellence and transparency. These are the “#AYOKOMAGVIRAL: A Meralco Internal Campaign Against COVID-19”, “Meralco: Providing Consumers the Power During Summer”, “Give Hope: 2020 One Meralco Foundation Annual Report”, and “Life Life: 2020 Meralco Sustainability Report” All these awards and recognitions serve as a testament to Meralco’s purposeful and impactful programs and initiatives that not only promote sustainability, but also prove to be beneficial for customers and industry stakeholders during the pandemic. Excel lent and clear communication is essential to ensure that Meralco’s programs and ser vices are well understood and appreciated by its customers and stakeholders.
RECOGNITIONS IN EXCELLENCEBUSINESS
The Meralco Group also emerged as one of the top companies at the recently concluded 19th Philippine Quill Awards, taking home 22 wins, and the Company of the Year 1st Runner-up award.
Among Meralco’s campaigns that received Excellence Awards include those that ensured customers, stakeholders, and employees were protected, healthy and equipped with helpful information against the COVID-19 pandemic such as “#AyokoMagViral: A Meralco internal campaign against COVID-19” under the Internal Communication category and “Safety First: Empowering Enterprises to Fight an Invisible Enemy” under the Safety Communication category.
Meralco’s initiative to make customer payment process more convenient via the “Fitting the Bill: Meralco makes paying bills easier with the Customer Account Number”, and its relentless ef forts to ensure its external stakeholders remain safe and informed despite the pan demic through the “Meralco Power Up Live: Empowering Business Customers Amidst the Pandemic” both won Excel lence Awards in the Customer Relations category. Also recognized with an Excellence Award under the Customer Relations category was the “Safeguard the Economy at All Costs by Waiving Energy Demand Charge” program, which demonstrated Meralco’s efforts to support its business customers amid the global health crisis. On the other hand, the Company’s push towards sustainable transportation through “Electric Motorcycle Deployment for Meralco Business Center Field Representatives” campaign likewise earned an Excellence Award in the Change Communication category.
CONSISTENCY IN EXCELLENCECOMMUNICATION
THE Manila Electric Company (Meral co), the largest electric distribution util ity in the country, continues to exemplify excellence in the fields of business and communications as it received multiple recognitions from reputable local and in ternational award-giving bodies this year. Recognized for its initiatives cen tered on customer centricity, sustainabil ity, transparency, and pandemic response, Meralco and its subsidiaries amassed wins at the Stevie International Business Awards (IBA), the 2022 Asia Pacific Ste vie Awards, the 2022 Gold Quill Awards, the 19th Philippine Quill Awards, and the 57th Anvil Awards. “The Meralco Group has always been steadfast in its commitment to implement meaningful initiatives that help empower our customers and the public, even in the midst of challenges like the pandemic. The recognitions we receive from local and international prestigious awards pro grams serve as a testament to the Group’s customer-centric, goal-oriented, and im pactful programs that not only improve customer experience and promote sus tainability, but also contribute to nationbuilding, ” Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga said.
Meralco emerged as one of the top companies at the recently concluded 19th Philippine Quill Awards as it was recognized as the Company of the Year 1st Runner-Up.
The Meralco Group shone brightly in the global stage as it bagged 12 wins for its customer service initiatives, corporate social responsibility, and thought leadership. The Group won two (2) golds, four (4) silvers, and one (1) bronze at the 2022 Stevie International Business Awards (IBA), which received over 3,700 nominations from organizations from 67 nations. Besting other nominations in the Best Use of Social Media - COVID-19-related Information category, the “Meralco Corporate Partners Viber Community: Engagement when connectivity is a must” was given a gold award. This Viber community served as the Company’s channel in providing relevant updates to its enterprise customers that may impact their business operations. Another gold went to the “One Meralco Foundation’s (OMF) School Electrification Program: Energizing the country’s offgrid public schools during the COVID-19 pandemic”, which was recognized as the Corporate Social Responsibility Program of the Year among nominations from Asia, Australia, and New Zealand. Meralco’s social development arm OMF, in partnership with the Philippines’ Department of Education, has been implementing the school electrification program in public schools located in unserved and underserved areas in the country. Meanwhile, OMF President Jeffrey O. Tarayao received a silver Stevie under the Thought Leaders for Government or Nonprofit Organizations category. Tarayao, who has been leading OMF since 2011, has been instrumental in deeply developing a consciousness where “inclusion” and “in clusive development” became fundamental principles of the design, implementation and sustainability of community and sustainable development programs of OMF. The other programs that won silver international Stevies were: “Meralco’s 2021 Annual Reports: “Bayanihan,” “Malasakit,” and “Kalinga””, OMF’s “One for Trees: Empowering People and Communities to Nurture our Forests” program and “One Meralco Foundation’s Household Electrification Program: Powering-Up Communities in the Pandemic”; while OMF’s “From Farmers to Pantries: A COVID-19 initiativeInspire Hope Amid the Pandemic and Economic Crisis in the Philippines” received a bronze award.
MERALCO GROUP DEMONSTRATES BUSINESS AND COMMUNICATION EXCELLENCE IN 2022
PSE president and chief executive Ramon Monzon said this projection was based on the pipeline of IPO applications pending with the regulators and the completed maiden share offerings. “Given the lineup of maiden offers in the next half of the year, we may see a 26-year high in terms of the number of IPOs in a year,” Monzon said. Eight companies conducted IPOs in the first half, with five listed on the main board and three on the small, medium and emerg ing board. Among the listed firms that debuted in the first half were Haus Talk Inc., Figaro Cof fee Group Inc., Citicore Energy REIT Corp., Bank of Commerce, CTS Global Equity Group Inc., Raslag Corp., VistaREIT Inc. and Balai ni Fruitas Inc. Four companies have pending IPO appli cations with the regulators, including Altern ergy Holdings Corp. (P2.18 billion), ORCA Cold Chain Solutions Inc. (P1.6 billion), Prime Infrastructure Capital Inc.(P28.1 bil lion) and Upson International Inc. (P5.4 bil lion). Monzon is hopeful that more companies will file their IPO applications as the bench mark index starts to recover from recent de cline caused by market volatility. The exchange put in place rules on ini tial listing through preferred shares offering to sustain the listing activities. This gives companies the flexibility to tap the equities market by selling preferred shares, instead of common shares. The PSE expects value offerings to hit P200 billion this year because of robust IPOs and other capital raising activities such as rights offering and follow-on offerings.
Marcos scales up jobs with 5 priorities endorsed by Private Sector Advisory Council
By Jenniffer B. Austria LOCAL conglomerates expect to sustain their recovery from the pandemic in the second half this year amid the continued reopening of the economy.
PSE RamonexecutiveandpresidentchiefMonzon
The conglomerate, which has investments banking, real estate, telecommunications and pow er generation, reported a 56-percent growth in net income to P16.3 billion in the first semester as the country’s reopening revitalized mobility and con sumer“However,confidence.Ayala is cognizant of the current mac roeconomic headwinds that have impacted our busi nesses in varying degrees. While this is the case, we believe that there is still growth to be realized for the rest of the year with what we are seeing on the ground,” Zobel de Ayala said.
WITH support from the Private Sector Advisory Council (PSAC), President Ferdinand “Bongbong” Marcos, Jr. is firming up concrete plans to create more jobs and attract more investors.
IPOs and bond listings seen hitting record levels this year
PDEx president and chief executive An tonino Nakpil said many companies tapped the local bond market in the first half ahead of the expected interest rate increase by the Bangko Sentral ng Pilipinas. Companies are also looking to diversify their funding sourc es to finance projects. The largest bond listing this year was the P52.7-billion Asean sustainability bonds is sued by BDO Unibank Inc., the country’s largestOtherlender.topbond offerings this year were SM Prime Holdings Inc. ( P30 billion), San Miguel Corp. (P30 billion), Bank of the Philippine Islands (P27 billion), SM In vestments Corp. (P15 billion), Rizal Com mercial Banking Corp. (P 14.75 billion), Converge Information and Communica tions Technology Solutions Inc. (P10 bil lion), Aboitiz Power Corp. (P10 billion), Ayala Land Inc. (P12 billion) and Century Properties Group Inc. (P3 billion). Jenniffer B. Austria
FUND-RAISING activities at the stock and bond markets are poised to achieve record levels this year, as companies embark on ag gressive expansion. Initial public offerings at the Philippine Stock Exchange and corporate bond listings at the Philippine Dealing & Exchange Corp. may reach new all-time high as more com panies raise funds with the reopening of the economy.
Mall operators SM Prime Holdings Inc. and Ayala Land Inc. resumed charging full rental fees in their malls after more than two years of offering conces sions to tenants at the height of the pandemic. This move would translate into higher profits for these companies as the second half is seasonally stronger than the first semester.
Conglomerates sustain strong rebound
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The target is 14.5 percent lower than the record P234 billion achieved in 2021, which was boosted by Monde Nissin Corp’s P55.89billion maiden share offering, the largest IPO in PSE history. Meanwhile, corporate bond listings at PDEx is also expected to set a new record high this year as more companies return to the domestic bond market for funding re quirements.Listings from 19 companies reached P352.12 billion in the first half, within strik ing distance from the all-time high of P387.8 billion registered in 2020.
SM Investments Corp., which has investments in market-leading businesses in retail, banking and property, also has a positive outlook for the secondSMIChalf.president and chief executive Fred eric DyBuncio said the company was encour aged by robust spend ing in the first half de spite the rising inflation rate. “This is a bright spot in the Philippines and in the region amid global headwinds,” DyBuncio said. Amid increased consumer spending, SMIC’s re tail business posted strong sales and foot traffic in its shopping malls, even matching pre-pandemic levels and signifying strong pent-up demand from consumers.
PSAC convenor and Aboitiz Group president Sabin Aboitiz disclosed the five priority recommendations that the Council has endorsed to PBBM to create more jobs— (1) scale up MSMEs, (2) identify laborintensive, high-potential industry segments, (3) attract more investors by making it easier to do business, (4) make labor regulation more flexible, and (5) build skills for short-term productivity and longterm competitiveness. Aboitiz, along with the Council’s Jobs sector lead RFM CEO Joey Concepcion and members JG Summit President & CEO Lance Gokongwei, SM Investments Vice Chairperson Tessie Sy Coson, Magsaysay Group President & CEO Doris Magsaysay Ho, Alliance Global Group CEO Kevin Tan, and Ayala Corporation Independent Director Rizalina Mantaring, met with PBBM in Malacañang on August 17 to co-create solutions to generate more jobs, upskill more owners of MSMEs, and enable more Filipinos to participate in a digital economy. New Labor Secretary Bienvenido “Benny” Laguesma also joined the meeting and provided his full support for the top 5 priorities recommended by PSAC.TheCouncil will again be meeting with PBBM in the coming weeks to lay out a roadmap that will help the Build, Build, Build and Tourism sectoral groups secure quick and substantial wins in the first 100 days of the administration.
San Miguel Corp., one of the largest and most diver sified conglomerates with revenues equivalent to about 4.9 percent of the gross domestic product in 2021, re ported a 24-percent increase in recurring consolidated net income in the first half to P32.5 billion. San Miguel president and chief executive Ramon Ang said the group achieved strong first-half earnings growth despite the challenging inEuropeenvironmentgeopoliticalinEasterthatresulteduncertaintiesand serious supply and cost issues. “This shows that our country’s economic recov ery and growth are gaining pace. We will maximize every opportunity to further strengthen our perfor mance in the second half,” said Ang. Ayala Corp. president and chief executive Fer nando Zobel de Ayala believes the ngrowth momentum would con tinue in the second half despite the headwinds in the market.
JG Summit Holdings Inc. of the Gokongwei Group is also optimistic about the prospects for the second semester with the easing of international travel restrictions and the resumption of face-to-face classes.JGSummit president and chief executive Lance Gokongwei said the group’s overall business ben efitted from the reopening of the economy. Gokongwei said, however, that some businesses, particularly airline and petrochemicals, were still reeling from cost pressures, rising interest rates and pesoJGdevaluation.Summitincurred a P2.7-billion net loss in the first half. “Our business units have implemented measures on how to mitigate the margin erosion through selective pric ing actions and pro ductivity initiatives,” Gokongwei said. “Given the strong demand for products and services despite the high inflationary environ ment in the first half, we remain optimistic that the further easing of restrictions especially on international travel as well as the resumption of face-to-face classes in the second half will sustain the topline growth momentum,” Gokon gwei said.
Listed companies are banking on the resumption of face-to-face classes, return to onsite work by of fice workers and “revenge spending” in the third and fourth quarters.
The Jobs sectoral group of the Private Sector Advisory Council with President Bongbong Marcos after endorsing recommendations to create more jobs for Filipinos. From left to right, Kevin Tan of Alliance Global Group, Joey Concepcion of RFM, Rizalina Mantaring of Ayala Corporation, Tessie Sy Coson of SM Investments, PBBM, Doris Ho of the Magsaysay Group, Lance Gokongwei of JG Summit, Sabin Aboitiz together with Gie Polanco and Ginggay Hontiveros of the Aboitiz Group
THE energy sector braces for the further surge in power demand which has already breached the pre-pan demicPresidentlevels.Ferdinand Marcos Jr. said in his first State-of-the-Nation address that the availability of cheap and reliable energy is one of the fundamental requirements for economic growth. Marcos said the country should look at all power technologies such as renewable energy and nuclear power.
The DA though the Agriculture Credit Policy Council offers credit programs with flexible loan terms, recognizing the impor tance of providing affordable and acces sible financial services to small farmers, fisherfolk and micro- and small-scale en terprises.Theagency serves 439 unbanked mu nicipalities, representing 90 percent of all unbanked towns in the country.TheACPC said that from 2019 to 2022, it dis bursed P24.09 bil lion worth of loans to 408,834 small farmer- and fisher folk-borrowers in partnership with fi nancial institutions as conduits.
By Allen Guo, Country Manager for the Philippines, Alibaba Cloud Intelligence THE pandemic forced organizations everywhere to re think how their employees could remain productive at a time when so many were forced to work from home. Part of the challenge was about ensuring that employ ees enjoyed a high quality of secure connectivity to es sential data and workloads regardless of their location. But there’s more to nurturing a successful workforce than providing good broadband. The pandemic meant looking for new ways to sustain a sense of connection between people no longer able to meet and collaborate in person. It was about making sure that everybody felt involved in a shared endeavor. Although the pandemic is largely over, it has left be hind a legacy of changed attitudes to work and the lo cation of that work. Many employees have, of course, returned full time to the office, but others are continu ing to work remotely, where that option exists. It is undeniable that the workforce has come to appreciate the benefits of remote work options. In fact, a study conducted by Robert Walters Philippines revealed that over half (collectively at 64 percent) of Filipino work ers would like the opportunity to work from home frequently (on a weekly basis) or more often (on a monthly basis).1 As such, some organizations are flipping between these models, opting for a mixed approach according to what suits the work they are engaged on at any one time. Some organizations are opting for a localized approach with different return-to-office plans based on regional needs. Welcome to the world of hybrid working patterns. Smart organizations will want to explore ways of enabling a flexible approach, where appropriate, rec ognizing that making efforts to fit in with employee preferences is a route to a happy, empowered and pro ductive workforce. But whichever way they approach it, making a success of a flexible approach to modern working patterns necessitates the implementation of suitable technology. Innovative ideas about getting the most out of workers while prioritizing their wellbeing are of no use unless backed by innovative tools to Thematch.beating heart of any modern enterprise lives in the cloud, and today’s cloud-native technology is helping workforces stay in closer touch than ever with essential applications, regardless of location. A new generation of cloud-focused compute power has the ability to reduce the latency between applications held in a data center and the user of those applications to a handful of microseconds. Tasks that rely on intel ligence-intensive AI and the handling of intelligence can be sped up by a generous margin. Accessing ultra-high-definition video with 8k reso lution is now near instantaneous. Backed with this sort of power, videoconferencing can now replicate face to face collaboration with remarkable accuracy helping workers at home to feel fully involved in a project.
Evangelista said the DA’s National Rice Program continues to provide aid to farm ers as prices of farm inputs remain high. The NRP is fast-tracking the arrival of cheaper fertilizers in time for the next planting season in October, she said.
The Department of Agriculture said the new law would boost productivity and competitiveness of the agriculture and fisheries sector by enhancing the accessibility of af fordable financial services and programs, expanding its coverage and giving more flexibility to financing“Agriculture,institutions.fisheries and rural develop ment financing shall consist of loans and investments to finance activities that shall enhance productivity and increase income of an agricultural and fisheries household, thereby promoting agricultural sector pro ductivity and competitiveness, as well as sustainable development of rural communi ties,” the DA said. The law requires banking institutions to design and offer financial products and services that suit their agricultural clients’ specific requirements.
The simulations showed that new build ca pacities from RE should be added to the grid with a total of 44,903 MW. This would com prise 31,316 MW solar, 11,565 MW hydro, 1,452 MW wind, 480 MW geothermal and 90 MW biomass.
Productivity in the New Normal: Innovative Solutions for Hybrid Work
The DOE said to support this demand, the Philippines’ installed capacity should in crease by four times to 91,701 MW by 2040, coming from existing, committed and new build capacities from 22,317 MW in 2019.
The Department of Energy’s Power Devel opment Plan originally forecasted a higher Luzon peak demand at 11,841 MW in 2021 and 12,387 MW in 2022, but the COVID-19 pandemic tempered this. It forecasts Luzon’s peak demand to con tinue to increase, reaching 13,125 MW by 2023, 13,917 MW by 2024 and 14,769 MW by“Peak2025. demand is expected to increase by almost four folds from 2020 to 2040 under the low and high gross domestic product growth scenarios, equivalent to about 7 per cent AAGR [average annual growth rate],” the report said. The DOE said Mindanao would have the highest annual growth at 8 percent, followed by the Visayas grid at 7 percent and Luzon at 6 percent Energy Secretary Raphael Lotilla ac knowledged that the power supply remained “inadequate” to meet the anticipated increase in “Thedemand.President pointed out that our power supply is, however, inadequate. This is par ticularly true with the loss of Malampaya natural gas for the 1,200-MW Ilijan plant due to declining field production,” Lotilla said. More capacity
The DA is looking into possible govern ment-to-government agreements and start ed initial discussions with China, Indone sia, Malaysia and the United Arab Emirates for the procurement of cheaper fertilizers.
Energy sector braces for surging demand New rural financing law to recharge farms, fisheries
By Othel V. Campos
“Financial assistance is available. It is just a matter of applying whether as an indi vidual farmer or a cooperative. As of now, we are really pushing for clustering and cooperativism. That is where we set our direction,” said Agriculture undersecretarydesignate for consumer and political affairs and spokesperson Kristine Evangelista. Evangelista said the DA’s program would focus on increasing production, while bringing down prices of fertilizer and other farm inputs. The new administration will also focus on food mobilization to ensure that con sumers have access to quality food items at affordable prices, she said.
A NEW rural financing law will revitalize the agriculture and fisheries sector. Republic Act No. 11901 or the Agricul ture, Fisheries and Rural Development Fi nancing Enhancement Act of 2022 lapsed into law in July 2022 to repeal RA 10000 or The Agri-Agra Reform Credit Act of 2009.
The Bangko Sentral ng Pilipinas agreed to efficiently implement RA 11901, con sidering the needs of the rural community beneficiaries and how the law would help in the recovery of the sector. President Ferdinand Marcos Jr., in his first State of the Nation Address, said the DA would extend financial and technical assistance to farmers in the next planting season to ensure increased harvests.
“There is some room to expand our present power supply through existing power sourc es, but this is only to a very limited extent. We must build new power plants. We must take advantage of all the best technologies that are now available, especially in the areas of renewable energy,” Marcos said. Data from the Independent Electricity Market Operator of the Philippines showed that peak demand for 2022 reached 14,380 megawatts in May, up 4.57 percent from the 2021 peak of 13,752 MW and 6.91 per cent from the pre-pandemic level in 2019 at 13,450 MW. In Luzon, where most businesses are situ ated, peak demand reached 12,103 MW in May, up 4.32 percent from 11,601 MW in 2021 and 7 percent from 11,307 MW in 2019.
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By Alena Mae S. Flores
New cloud-based Desktop-as-a-Service (DaaS) so lutions are great news for IT teams looking for ways to quickly create a secure, high-performance, and cost-efficient virtual desktop for any employee with out making large hardware investments upfront. This new approach to what constitutes a workstation has potential use cases in verticals like finance, design, and education, or indeed any industry that has require ments for secure intelligence management backed by high-performance computing. Parallel computing capabilities based on new GPU technology mean that employees in fields like deep learning, video processing and scientific computing now get the power they need delivered in the form of a service.Let’snot forget security, perhaps the biggest per ceived drawback of hybrid working models. The latest cloud-based security protects all types of network con nection, for example by allowing unique identification for different departments while letting IT staff retain overall control through a central executive network. New tools like these are redefining the meaning of collaboration and communication. As the traditional workplace continues to evolve, these tools can foster the kind of connection between employees that suc cess is based on. Hybrid working patterns don’t mean the end of the office, and they don’t mean that remote workers feel cut off from the center. It’s all about using the right technology to bind all the people in an or ganization together, providing opportunities to nurture talent, reward endeavors and foster a winning culture.
Championing
“At present, our demand for energy far ex ceeds our reliable supply. We must increase the level of energy production. We must look at every possible option that would be appropriate for the Philippine situation,” the president said.
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MPIC
PLDT Inc. and Smart Communications Inc. president and chief executive Alfredo Panlilio said the continuous network invest ments are proof of the group’s long-standing commitment to provide more Filipinos ac cess to fast, reliable and affordable internet.
“We are also prepared to assist in the gov ernment’s digitalization efforts, empowering its vision of an agile bureaucracy that is re sponsive to the needs of the public,” he said. PLDT extended its fiber infrastructure to 803,000 kilometers as of end-March. The infrastructure also supports Smart’s mobile network. Smart deployed around 76,600 total base stations nationwide, supporting 3G, 4G/ LTE and 5G customers. The PLDT Group said it spent P518.5 billion in the last 10 years up to 2021. Net work-related initiatives made up the bulk of the P89 billion spend for 2021. Capex guid ance for 2022 is P85 billion.
“The administration can count on the uni verse of Globe’s digital solutions―from new technologies our core telco business offers to our portfolio companies in fintech health tech, edutech and more―to provide innova tive services to make its digitalization and connectivity goals a reality,” he said.
Embracing MPIC’s reinforced thrust towards sustainability, Metro Pacific Investments Foundation’s (MPIF) one-year food security program Bayan Tanim! and its alternative livelihood program Puhunang Pangkabuhayan were recognized for the opportunities it provided for Filipinos to get back on their feet. With a recurring theme of resurgence, these efforts aimed to kickstart self-sufficiency and allow beneficiaries to take responsibility for a better future moving forward.
MPIC Chairman, President & CEO Manuel V. Pangilinan. Sharing our narratives of making progress and inspiring change in every endeavor we undertake is a significant part of the work we do.
METRO Pacific CorporationInvestments (MPIC), the country’s leading woninvestmentinfrastructurecompany,14covetedhonors at the 19th Philippine Quill Awards.Hosted by the International Association of Business Communicators (IABC), MPIC’s accolades included recognitions for media relations, events, publications, and corporate social responsibility, primarily its COVID-19 initiatives.
Our goals
MPIC Vice President for PR and Corporate Communications Melody del Rosario.
By Darwin G. Amojelar
Globe Telecom president and chief exec utive Ernest Cu said the company is at the forefront of introducing pioneering digital solutions to address various pain points in daily life, whether in personal finance, enter tainment, education or healthcare.
“Our goals remain unchanged— to achieve national progress and uplift the lives of our countrymen. Seeing how our work helps Filipinos is, by itself, rewarding. But being recognized for our passion adds more fuel to our fire,” said MPIC Chairman, President & CEO Manuel V. OfPangilinan.its14awards, MPIC garnered five excellence and 9 merit trophies. Sharing Stories Worth Telling Amid a challenging 2021, MPIC prioritized service continuity and maximized its reach to various audiences on several platforms, all while broadening its corporate social responsibility initiatives to aid the most vulnerable sectors affected by the“Sharingpandemic.our narratives of making progress and inspiring change in every endeavor we undertake is a significant part of the work we do,” said MPIC Vice President for PR and Corporate Communications Melody del Rosario. “The initiatives are meaningful enough on their own, but the stories behind them show the purpose embedded at the heart of our company.”MPICcreated publications and media engagements that highlighted the consistent delivery of essential services throughout the year. Its 2020 Annual & Sustainability Report and In the Heart of MPIC, its six monthlong radio engagement with DWIZ, both gave in-depth narratives on the strategic moves the group has made to keep the country going.
passionrecognizedrewarding.Filipinoshowcountrymen.theprogressachieveunchanged—toremainnationalandupliftlivesofourSeeingourworkhelpsis,byitself,Butbeingforouraddsmore fuel to our fire.
Globe is spending P89 billion this year, up 17 percent from last year’s P76 billion to ex pand its network nationwide.
TELECOM companies are accelerating network expansion to support the government’s goal to digitalize processes and provide universal connectivity across the country.
Notably, the MVP Group GABAY Concert served as the launchpad for the group’s six GABAY Advocacies for a Sustainable Philippines. Introduced during its Chairman’s 75th Birthday, these umbrellas encapsulate the group’s contributions toward the attainment of the United Nations Sustainable Development Goals for livelihood, youth and leadership, environment, community work, health and sports, and education. MPIC’s recognized programs not only acknowledged the bravery of the country’s frontliners and the flourishing bayanihan spirit that was awakened in adversity, but the man at the heart of it all, its President, Chairman, and CEO Manuel V. Pangilinan—fondly known as MVP. Metro Pacific’s 75th Birthday Tribute music video to MVP saw its company and foundation executives expressing how his passion to help the Filipino people has inspired them to do the MPICsame.and MPIF’s recognition in the 19th Quill Awards is a testament to the group’s efforts to contribute to the United Nations Sustainable Development Goals (SDG), particularly SDG 8 Decent Work and Economic Growth, 11 Sustainable Cities and Communities, and 17 Partnerships for the Goals.
Beyond its response to the pandemic, MPIF continuously mobilized Shore it Up!, its flagship program for the environment. In January 2021, the Foundation inaugurated its third Mangrove Propagation and Information Center in Cordova, Cebu, in partnership with the Cordova LGU and the Cebu-Cordova Link Expressway Corporation (CCLEC). The event also served as the induction for the Mangrove Eco-guides, four locals employed to serve as stewards of ecotourism in the area. Collaborative programs with the MVP Group of Companies and Tulong Kapatid, the corporate social responsibility alliance of the group, directed towards providing support to frontliners and vulnerable communities were also recognized. Bags 14 Laurels at 19th Philippine Quill Awards
Converge ICT Solutions Inc. co-founder and chief executive Dennis Anthony Uy also expressed support to the government’s push for digital democracy. The company acceler ated by two years its target of covering 55 percent of Philippine households with fiber connectivity to 2023. Last year, it teamed up with a foreign sat ellite company to provide satellite broad band connection to more than 2,000 public schools.“Wehave ensured that we have the correct infrastructure in place and built our own do mestic backbone and network so that worldclass, resilient and high-speed pure fiber connectivity is ready for service to Filipinos nationwide. With this digital infrastructure, we are more than ready to assist the govern ment in the efforts to achieve universal con nectivity,” Uy said.
Telecom boostspendingcompaniesmoretoconnectivity
HOME Credit, the leading consumer finance company in the Philippines, strengthens its programs to promote financial inclusion and serve the unbanked and under served Filipinos in line with the Philippine government’s strategy to widen financial inclusion to more Filipinos.
“That’s a big no-no; you cannot be promot ing something and saying you are regulating it at the same time. These are the kind of things we have to address,” he said.
“We will comply, of course, with the Inter national Atomic Energy Agency regulations for nuclear power plants as they have been strengthened after Fukushima. In the area of nuclear power, there have been new technolo gies developed that allow smaller scale modu lar nuclear plants and other derivations there of,” Marcos said. The International Atomic Energy Agency de fines SMRs as advanced nuclear reactors with a capacity of up to 300 megawatts, or about a third of the generating capacity of traditional nuclear power reactors. SMRs are smaller in size than conventional power reactors and easier to install. Energy Secretary Raphael Lotilla said the previous administration laid the groundwork for the country’s nuclear energy policy.
“We will be forward-looking and attend to this during this administration. So we would be ready once the technologies are available to fill them.
THE government now entertains the nuclear power option in its quest to attain energy security in the future.President Ferdinand Marcos Jr., in his first State-of-the-Nation-Address, said it was time to re-examine the strategy for building nuclear power plants in the Philippines.
nuclearconsidersoptionforenergysecurity
“The challenge before us, which the Presi dent has also indicated, is that we will be open, and we’ll look into the options for nuclear be cause nuclear is non-carbon emitting,” Lotilla said.“For the small modular power plants, we will attend to them when they become commercially available. But right now, we will focus instead on one, for example, establishing the regulatory framework,” he said. The energy chief said, however, that the Phil ippine Nuclear Research Institute is both the regulator and promoter of nuclear power.
By Alena Mae S. Flores
IAEA compliance The IAEA Milestones Approach is a phased comprehensive method to assist countries in considering or planning their first nuclear pow er Lotillaplant. said nuclear has the highest capacity factor among power technologies.
Gov’t
Home Credit empowers Filipinos through financial inclusion
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In 2021, Home Credit Philippines signed a groundbreaking ESG-linked loan with Deutsche Bank to reinforce the company’s digitalization efforts with 60% of its loans availed by customers via digital channels to enable more equitable loan rates and terms to customers regardless of their economic or social background. In 2022, Home Credit also inked a pioneering loan facility with Citi aimed at providing access to digital fi nancial services to women with 120 million out of the 420 million of this loan facility are dedicated to women for the purchase of basic digital devices such as smart phones and tablets. Home Credit has provided more than 18 million loans to its 8 million strong customer-base. More than 70% of these loan applications were processed via Home Cred it’s digital channels. As June 2022 alone, Home Credit has served almost half a million new customers, over half were women and over a quarter of them were in the younger bracket. Home Credit has also launched its flagship financial literacy radio block time segment in partnership with Praxis and the Manila Broadcasting Company in June which airs 2-minute financial tips across all DZRH stations nationwide. It’s set to launch its Wais sa Home financial literacy microsite featuring financial literacy quizzes and other resource this August and its Wais sa Home national roadshow aimed at expanding its financial literacy programs for youth across the country. “Home Credit Philippines remains committed to sup port equitable post-pandemic recovery in the Philippines through our consumer finance services and solutions. We believe that our financial inclusion programs and fi nancial literacy initiatives builds on the bigger vision of empowering more Filipinos,” said David Minol, CEO of Home Credit Philippines.
Credit’sthroughapplyTheydigitalpurchasewherepartnerthousandsatapplyBorrowersanyFilipinosexperienceCreditoffered‘point-of-sale’theasbyHomeisthefirstmanyhaveofkindofcredit.canforaloanHomeCredit’sofmerchantstheycantheirdevices.canalsoforaloanHomeapp.
Home Credit Philippines believes that the key to accelerating financial inclusion is making finance more accessible to more people especially for the unbanked and underserved Filipinos. Among its key thrust for 2022 include broadening access to responsible finance, championing financial literacy and empowerment, and promoting innovation and digital inclusion.
Among the company’s efforts to empower Filipinos include loan facility to first-time borrowers, especially women, to help them own gadgets
Lotilla said the president conveyed the need to fully consider and abide by the requirements of the IAEA, especially after the Fukushima accident, where compliance requirements were reinforced and strengthened.
In July 2022, the Bangko Sentral ng Pilipinas (BSP) launched the National Strategy for Financial Inclusion (NSFI) 2022-2028, the country first financial inclusion blueprints that is expected to transform the country into a more inclusive society with a more empowered citizenry in the next six years. BSP’s 2020 Financial Inclusion Initiative report re vealed that in 2019, only 29% of adult Filipinos own bank accounts and only 19% had formal credit. 31.2% of Local Government Units (LGUs) still do not have banking presence while 4.6% of LGUs are still considered underserved. Despite the availability of digital financial services, BSP data also revealed that while 69% of Filipino adult own mobile phones and 53% use the internet, only 12% of mobile phone owners and 9% of internet users use their devices and the internet for financial transactions.
Borrowing at
“Thesaid.Philippines is one of the highly min eralized countries in the region, and it must take advantage of the opportunity consider ing the stable metal prices, global direction to move into green energy, in which copper and nickel are very important,” he said.
“The Department of Transportation launched programs geared at improv ing transportation efficiency and re ducing emissions and pollutants from the public transportation sector,” Bau tistaHesaid.said the establishment of the na tional development plan for the elec tric vehicle industry is a big push for the promotion of electric vehicles. Bautista said the DOTr would sup port and assist in the advancement of the Republic Act 11697 or the Development of Electric Vehicle In dustry in the Philippines to provide sustainable transport alternatives to Filipinos.
Lowering of the first Tunnel Boring Machine (TBM) for the Metro Manila Subway
Bautista also underscored projects which aim to improve transportation efficiency and reduce carbon emis sions through the Public Utility Ve hicle Modernization Program.
The project is expected to reduce travel time between Quezon City and NAIA from one hour and 30 minutes to just 35 minutes. It is expected to serve around 370,000 passengers a day in its first year of full operations, with capacity to serve up to 1 million passengers a day in later years. The MMSP is physically intercon nected and interoperable with the North-South Commuter Railway System’s south segment, enabling a passenger to board a subway train, for example, in North Ave. Station and get off at the Calamba Station of NSCR.Other projects include the PNR Clark Phase 1 (Tutuban to Malolos), the P50.03-billion Subic -Clark Rai way Project and the P142-billion Phil ippine National Railway Bicol Project from Banlic, Calamba to Daraga, Al bay, among others.
Miners expect golden opportunities this year
Philex Mining Corp. AustinpresidentEulalioJr.
The agency through former Trans portation Secretary Arthur Tugade signed the design-build contract with the joint venture of China Rail way Group Ltd., China Railway No. 3 Engineering Group Co. Ltd. and China Railway Engineering Con sulting Group Co. Ltd. The agree ment covers the design, construction and electromechanical works of the project. The first 380 kilometers of PNR Bi col from Banlic, Calamba to Daraga, Albay will span 39 cities and munici palities, four provinces and two re gions. It will involve the construction of 23 stations, 230 bridges, 10 passen ger tunnels and a 70-hectare depot in San Pablo, Meanwhile,Laguna.the P82-billion Mind anao Railway Project: Tagum-DavaoDigos segment of the Mindanao Rail way is expected to reduce travel time from Tagum City, Davao del Norte to Digos City, Davao del Sur from 3.5 hours to 1.3 hours once it starts opera tions.The P51 billion Subic-Clark Rail way Project, on the other hand, will cut the travel time between Clark in northern Pampanga province and Ma nila from two to three hours by bus to one hour by train, with a maximum rail speed of up to 160 kilometers per hour.Discussions with the Chinese gov ernment for the financing of several projects continue. Green transport Bautista said the government would also promote green transport projects and electric vehicles throughout the country.Hesaid that the agency would ensure that transport policies and projects are dovetailed on the preservation of the environment and compliant with inter national environment standards towards alleviating the impact of transportation on the environment.
By Jenniffer B. Austria MINING companies turned bullish on in dustry prospects as the administration of President Ferdinand Marcos Jr. seeks to re invigorate the sector as part of the strategy to grow the domestic economy. Mining industry, which has stagnated since 2012 following the imposition of moratorium on new mining contracts, is en joying the benefits of prevailing high metal prices.“We are very happy that the new admin istration is pro-mining,” DMCI Holdings president and chief executive Isidro Con sunji said in a recent investors forum. DMCI’s mining unit has operations in Zambales and Palawan provinces, but at least 90 percent of its assets have yet to re ceive government permits.
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By Darwin G. Amojelar
Rail projects One of the big ticket projects is the Metro Manila Subway Project― a 33-kilometer subway, dubbed as the “project of the century”, which stretches from Valenzuela City in the northern part of Metro Manila to Ninoy Aquino International Airport Terminal 3 in Paranaque City.
THE government plans to transform the trans portation sector and elevate it to global standards by building big-ticket infra structureTransportationprojects.Secretary Jaime Bautista said the priority is to enhance passenger experience at all stages of their journey and provide affordable, safe and accessible travel. “We should focus our efforts at moving passengers and goods that use our roads, airports, seaports and rail ways,” he said. Bautista said the Marcos govern ment would sustain the infrastructure program of the previous administra tion.“I would like to assure that we will seriously consider continuing the various programs implemented under [former] President Duterte’s ‘Build, Build, Build’ initiative,” he said. “We do not need to reinvent the wheel. These big-ticket projects truly deserve continuity to strike the maxi mum benefits for the Filipino people,” heThesaid.Duterte government allocated P8 trillion to P9 trillion for infrastruc ture projects, raising the budget for the sector from only 2 percent of gross domestic product in the previous four administrations to an average of 5 per cent of GDP.
Gov’t seeks to upgrade transport sector
The Philippines is considered the fifth most mineralized country in the world, with the third largest deposits of gold, fourth for copper, fifth for nickel and sixth for chromite. Most of country’s mineral resources, however, remain untapped be cause of strong opposition from various sectors.Itwas during the Aquino administration when a moratorium on new projects was imposed following a series of mining in cidents. Former President Rodrigo Duterte also had an anti-mining stance at the onset of his administration and threatened to impose a total ban on open pit mining. He ordered mining companies to rehabilitate mined-out areas.Towards the end of of 2021, President Duterte lifted the ban on new mining proj ects to boost the economy which was badly affected by the pandemic. Philex Mining Corp. president Austin Eu lalio Jr. said the industry holds the greatest potential to drive economic recovery and growth.“Webelieve that mining, being an export industry, will play an important role in the economic recovery of the country, particu larly in increasing our dollar reserves,” Eu lalio
SecretaryTransportationJaimeBautista
The DOTr in January 2022 signed a P142-billion contract with Chinese companies to build the first 380 kilo meters of the Philippine National Rail way Bicol Project.
THE meanquarterPhilippinesregisteredeconomic7.4-percentgrowthbytheinthesecondof2022isnofeat.
The economy expanded despite soaring inflation rate, the disruption in the global supply chain caused by Russia’s invasion of Ukraine and the lingering pandemic. Some would argue that the eco nomic growth slowed from the more robust 8.2-percent expansion in the first quarter of the year. That might be true but the lower gross domestic product growth fig ure in the second quarter came from a high base in the same quarter last year. The economy grew at a faster rate of 12.1 percent during the com parative period in 2021.
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mum.torusducingfurthermylownowAuthoritiesshouldaltheeconotoexpandbyrethevirestrictionsabaremini
GDP GREW 7.4% IN Q2
Economy buoyant amid challenges
The Philippine economy actually fared well amid the headwinds buf feting Asia and the rest of the world. The nation’s GDP growth was the second fastest in this corner of the world, next to Vietnam’s 7.7 per cent. It was faster than Indonesia’s 5.4 percent and China’s 0.4 percent. Elections spending and the easing of COVID-19 restrictions greatly contributed to increased economic activities in the second quarter. Lowering the COVID-19 alert lev el status allowed more Filipinos to go out, dine in restaurants and travel to tourism spots. Living with the virus, as BalicasanretaryPlanningEconomicSecArsenioputs it, is possible and has led to a higher tivity.economiclevelofacFitchSolu tions, a unit of ratinginternationalagency Fitch Group, is impressed with the ousfromtotheforecastitstheperformanceeconomicofPhilippines.Itjustraised2022growthforPhilippines6.6percentitspreviestimate of 6.1 percent, taking into ac count the ro bust expansion in the first two quarters.The Philip pines could have expanded more in the sec ond quarter if it reopened fur ther the econo my.The resump tion of face-toface classes, for one, is certain to create more economic ac tivities and lastsamepercentloweragosameleveljoblessnessinatploymentlizedhasofsector.foropportunitiesjobtheinformalTheeasingrestrictionsalsostabitheunemrate6percentJune.Thewastheamonthbutmuchthan7.7inthemonthyear.ThePhilip pine economy, it seems, is poised to ex pand further in the coming months given the strong per formance in the second quarter. It has shown that it can grow despite COV ID-19.
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THE banking system is another strength of the Philippine economy as it remains sound and stable despite the risks coming from domestic and external fronts. The banking industry maintained its resilience and robust footing as shown by continued growth in assets, deposits and profit, as well as stable capital and liquidity buffers and ample provision for credit losses.Total assets of the industry expanded 6.7 percent year on year to P20.7 trillion as of end-April 2022. The growth rate was higher than the 3.9 percent in April 2021 but slightly lower than the 6.9 percent a monthDepositago. generation mainly funded the year-on-year asset growth. By banking group, the share of universal and commercial banks was maintained at 94 percent (P19.4 trillion) of total assets of the banking system, followed by thrift banks at 4.4 percent (P917.8 billion), and rural and cooperative banks at 1.6 percent (P329 billion). Total loan portfolio further grew 7 percent year on year to P11.4 trillion as of end-April 2022. This growth rate was a turnaround from the 2.5-percent contraction in April 2021 and relatively better than the 5.8-percent growth a month ago. It also marked the ninth Taming inflation rate a big challenge to policy makers
THE twists and turns of the Ukraine war are causing global oil prices to gyrate. Consum ers across the globe are feeling the pinch from higher crude prices, while a couple of nations have decided to curb their key exports to se cure domestic supply and assure food security. The war in Ukraine will likely keep crude prices high for some time, unless the Organization of Petroleum Export ing Countries led by Saudi Arabia does the unlikely move to sharply increase oil production. Oil and gas supplies from Russia are being squeezed by the United States and its European allies in retaliation for the invasion of Ukraine. Surging crude prices are hurting develop ing nations like the Philippines. The elevat ed prices have led to higher pump prices of gasoline, diesel and other petroleum prod ucts. They in turn raised the transportation cost of commuters as well as vegetables, meat and other food items shipped and de livered around the Philippines. The Bangko Sentral ng Pilipinas, whose job is to manage the inflation rate, is finding itself in uncharted territory. The monthly inflation rate in the Philippines before and during the pandemic has generally been stable, rarely surpassing 4 percent. But with the war in Ukraine, the calm is being disturbed. The inflation rate in July rose to an over three-year high of 6.4 percent from 6.1 per cent in June—mainly driven by the weaker peso and higher food and petroleum prices. The central bank will not allow a runaway inflation because it erodes the purchasing power of consumers. The BSP from its end can raise the interest rates to induce savings and curb spending to arrest inflation. Other government agencies can move to increase the supply of certain food items like rice by way of imports. Or the state can remove some of the taxes and duties attached to pe troleum products and other sensitive food items.Trimming the taxes imposed of petro leum products and sensitive items, howev er, will require a delicate balancing act from the government. It needs revenues to fund healthcare and social welfare programs for the poor, while taming the inflation rate at the same time. Slowing the inflation rate is a big challenge for our economic managers. An unstoppable inflation will ultimately lead to economic recession, which the Filipinos cannot afford after grappling with COVID-19. ON THE ECONOMY consecutive month of positive yearon-year growth rate in the total loan portfolio of the banking industry. The loan expansion largely came from the real estate, manufacturing, information and communication, wholesale and retail trade, and financial and insurance sectors. Collectively, these sectors accounted for around 53 percent of the total loans of the domestic banking system. Bangko Sentral ng Pilipinas has generally kept policy rates low and maintained an accommodative policy stance, which enabled banks to pass on lower interest rates to their clients during the However,pandemic.withthe reopening of the economy amid favorable market conditions, the BSP has started to gradually raise the policy rate after a series of policy rate cuts in 2020. The BSP has already raised the policy rates this year four times to 3.75Overall,percent.a declining trend has been observed in both mean and median weighted average interest rates (WAIR) since the start of the pandemic. But lending rates have started to inch up in 2022. For the period ending March 2022, the overall mean WAIR on loans of big banks stood at 6.4 percent, lower than the 8.2 percent in March 2020 (the start of quarantine period) but higher than the 5.5 percent in March 2021.The total amount of new loans granted by big banks for the month of March 2022 stood at P827.8 billion. Loans to private corporations had the largest share of new loans granted at 69.2 percent (P572.6 billion), followed by loans to individuals at 15.6 percent (P129.1 billion). Meanwhile, agri-agra loans and micro, small and medium enterprises loans had 8.9 percent share (P73.3 billion) and 4.6 percent share (P38.2 billion), respectively, of new loans granted for the same period. Banks likewise continued to provide credit and relief to their borrowers. As of end-April2022, the level of restructured loans expanded by 40.7 percent year on year to P340.5 billion, equivalent to 3 percent of the total loan portfolio of the banking system. Amid the pandemic, the sustained confidence of depositors was evident in the continued deposit growth. Total deposit liabilities of the banking system grew by 7.2 percent year on year to P16.1 trillion as of end-April 2022, higher than the 6-percent growth rate in April 2021. The banking system sustained its profitability as combined net profits climbed 26.3 percent year on year to P66.3 billion for the period ending March 2022.
RAY S. EÑANO Business Editor RODERICK T. DELA CRUZ Assistant Business Editor DARWIN G. AMOJELAR JENNIFFER B. AUSTRIA OTHEL V. CAMPOS ALENA MAE S. FLORES JULITO G. RADA Reporters VICKIE R. AYENG Layout Artist ROLANDO G. ESTABILLO Publisher ANITA F. GREFAL Operations Head BALDWIN FELIPE Advertising Head PAULA REYNOSO Head-Supplements MERCEDITA PASCUAL SHIRLEY UMALI CHARIES VILLACARLOS Advertising Solutions Managers SHEILA SUAREZ JOAN VELASCO PETER PAUL DURAN Advertising Support Group FELICIANO BUSCAS GUILLER ALANGUILAN LEA BASBAS CHARLES ARVIN DANTES ANGELICA VILLANUEVA MIS Technical Support EDGAR VALMORIDA Circulation Manager RANDY LUMACANG Printing Support Full Reopening: PH Economy Nears Pre-Pandemic Level SPECIAL REPORT
PH banks sound amid headwinds
By Julito G. Rada
The DOT plans to offer incentives to pri vate sector entrepreneurs who will imple ment green policies that give value to the preservation of the environment, as well as introduce measures that promote environ mental protection and energy-efficient usage.
THE Ukraine-Russia war has exposed the vulnerability of the Philippines to geopoliti cal tensions. Short of oil and gas discoveries, the nation has time and again capitulated to the vagaries of oil prices in the world market. For several years, the government and the private sector have acknowledged the need to find a new Malampaya, a new oil and gas discovery that could help secure the coun try’s fuel requirements. Oil and gas exploration slowed down amid geopolitical issues and tax disputes. Today, the supply from the Malampaya proj ect in northwest Palawan, commissioned in 2001, is facing gas depletion leading to supply constraints to power plants in Batangas. Malampaya has proven reserves of about 2.7 trillion cubic feet (TCF) of natural gas and 85 million barrels of condensate, located some 3,000 meters below sea level. It is the most significant gas discovery in the Philip pines to date. The actual consumption of Malampaya gas reached 2.47 TCF as of June, while the remaining recoverable reserves from July to February 2024 are 191 billion cubic feet (BCF). The estimated remaining recoverable reserves after February 2024 are about 150 BCF.There is optimism the Marcos administra tion will be able to revive investor interest in oil and gas exploration in the country, which has been lagging compared to other countries in Southeast Asia. The Philippines ranked 9th in the region in terms of exploratory drilling, according to the 2021 IHS report. “We are also looking at the areas that are clearly undisputed. And we are looking at the near fields around Malampaya. And that’s why the President has indicated that he wants to have all legal and policy issues that have been a sword of Damocles over investments in the upstream, clarified fully,” says Energy Secretary Raphael Lotilla. He said the new administration is “on track towards the resolution on a number of this uncertainty.”“Oneofthe major focus of the President is on the upstream natural gas development of our indigenous resources. He wants to ensure that the policy environment for investors in the upstream is going to be one, certain; two, stable; and three, absolutely clear,” Lotilla said. Legal panel To ensure that the policy recommendations from the DOE to the President and Congress are fully grounded on the Constitution, the laws of the land, and sound legal principles, Lotilla created an Advisory Panel composed of distinguished senior legal advisors from the private sector who will advise the DOE on energy law reform and various energyrelated legal matters. These advisors from the private sector are retired chief justices Artemio Panganiban and Reynato Puno.
The DOT identified the objectives as fol lows: improvement of tourism infrastruc ture and accessibility; cohesive and com prehensive digitalization and connectivity; enhancement of overall tourist experience; equalization of tourism product development and promotion; diversification of portfolio through multidimensional tourism; maximi zation of domestic tourism; and strengthen ing governance through collaboration with local government units and stakeholders.
“In our view, it’s also very, very important to ensure that we examine all existing strate gies that have been set in place, continue the good programs that have been implemented, and introduce innovations and strong coor dination with tourism-enhancing agencies in the national government, to be able to en sure that we build a strong foundation for the tourism industry, so that it becomes resilient against any crisis,” says Frasco.
Frasco said the department plans to stream line travel protocols on visitors and review accreditation requirements for businesses. The department vowed to provide conve nient and better tourism experience for both foreign and domestic travelers through stan dardized travel protocols.
“It’s also very, very important to continue to harness the relationship with the private sector, especially in the grassroots, for the adoption of sustainable development not only as a policy and theoretical notion, but rather as a way of life so that eventually, sustain able tourism is not only a matter of govern ment regulation but rather of self-regulation, in that the community takes an active part in the implementation of all of these policies,” she said.
Members of LRT-1 Riders Club are entitled to different membership benefits, such as unlimited shuttle service rides with route from Parañaque Integrated Terminal Exchange (PITX) to Ayala Malls Circuit Makati and vice versa with designated loading and unloading points in Mall of Asia area and Makati Central Business District linking to LRT-1 EDSA and Gil Puyat stations. This initiative is in partnership of LRMC with Global Electric Transport (GET) Philippines, a Mobility-as-a-Service company engaged in providing a world-class, emissions-free transport system.The shuttle service features the Community Optimized Managed Electric Transport (COMET) —a world-class, air-conditioned, fully electric, and zero-emission minibus with a capacity of 30 passengers and travel range of over 100 kilometers on a single full charge. It is also equipped with on-board cameras, media system, display monitors, Internet connectivity, as well as wheelchair slot and retractable electric ramp for Persons with Disabilities. “At LRMC, we are always on the lookout on how we can better serve our passengers and make their commute more convenient. LRT-1 passengers get to enjoy the first end-to-end emissions-free transport system in the Philippines as both LRT-1 and COMET help in reducing carbon footprint. LRMC has made a commitment to achieve net zero greenhouse gas emissions, and part of this is adopting the use of digital management systems and promoting zero-emission transport solutions. Our partnership with GET aligns well with LRMC’s sustainability initiatives, and is anchored on UN Sustainable Development Goal 11 (Sustainable Cities and Communities) and Goal 13 (Climate Action),” LRMC President and CEO Juan F. Alfonso shared. LRT-1 passengers can enjoy these benefits and more by signing up to become members of the LRT1 Riders Club on the GETPASS App available for download on Google Play and App Store. Membership passes for the LRT-1 Riders Club come in the following amounts and validity of unlimited rides: Bronze—P50 (1 day pass), Silver—P150 (1 week pass), and Gold—P500 (1 month pass). The membership pass also provides access to ride the COMET buses in other routes within the GET Philippines network. For more updates and information on the COMET shuttle service for LRT-1 passengers, download the GETPASS App for free on Google Play and App Store, and follow LRT-1 Riders Club on Facebook at facebook.com/lrt1ridersclub
“We will also see to it that the quality of our tourist destinations and product offerings meet international standards through rigor ous establishment accreditation and product audits. Currently, our Office for Standards Regulation is reviewing our accreditation re quirements to address gaps and incorporate emerging tourism standards that cater to the needs of modern travelers,” Frasco said.
LRMC’s LRT-1 Riders Club offers electric shuttle service and more
Philippine tourism is back on the map PH revisits oil, gas drillings in wake of Ukraine invasion
Following directive of President Ferdinand Marcos Jr. to revive the tourism industry, the Department of Tourism (DOT) has outlined seven main objectives that will help stake holders reclaim the Philippines’ primary standing in the global tourism space. Despite the recurring COVID-19 surges, the DOT expressed confidence the Philip pine will bounce back from the ravages of the pandemic and the many calamities that have struck the country.
The Malampaya Deepwater Gas-to-Power project utilizes state-of-the-art technology to extract natural gas and condensate from the depths of the Palawan basin.
The DOT has reached out to the Depart ment of Interior and Local Government (DILG), the Bureau of Immigration (BI), and the Bureau of Quarantine (BoQ),to ensure that entry protocols and requirements are streamlined and that updates are easily avail able to tourists.
PRIVATE operator of LRT-1 Light Rail Manila Corporation (LRMC) remains committed in providing a safe, reliable, efficient, and comfortable journey as it offers its passengers convenient transport feeder service to and from select LRT-1 stations thru LRT-1 Riders Club.
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By Alena Mae S. Flores
Tourism Secretary Christina Agnes Frasco
FOR many in the rural areas, tourism is their lifeblood. It is one sector that directly creates jobs and boosts the income in the countryside.Itgeneratesforeign exchange and gives rise to small entrepreneurs. It disperses wealth and narrows the poverty gap.
To date, the DOT recorded 1.1 million for eign arrivals since the Philippines reopened its borders to international leisure travelers on February of this year. Sustainable tourism Frasco stressed the importance of incentiviz ing sustainable tourism policy implementation.
By Othel V. Campos
“This is line with the vision of the Presi dent for the tourism industry to become a major pillar in our country’s national postpandemic recovery,” says Tourism Secretary Christina Agnes Frasco.
