CHEAPER food and oil as well as the appreciation of the peso may have contributed to cooler inflation in September, according to the Bangko Sentral ng Pilipinas (BSP).
BSP said inflation may have averaged 2 to 2.8 percent in September due to lower food and oil prices as well as the appreciation of the peso.
If this will be the case, this would be the first time the country’s inflation rate went below 3 percent since October 2020 when
inflation averaged 2.3 percent. In that year, inflation averaged 2.4 percent.
“Negative base effects along with lower prices of food commodities including rice, meat, and vegetables as well as lower domestic oil prices, and the appreciation of the peso are the primary sources of downward price pressures for the month,” the BSP explained. “These are expected to offset the higher prices of fish and fruits and electricity rates.”
Given this expectation by the
BSP and analysts here and abroad that inflation will continue to slow, Sumitomo Mitsui Banking Corporation (SMBC) Head of Asia Macro Strategy Jeff Ng said the central bank can be expected to continue cutting key policy rates.
Ng said SMBC expects the BSP to cut rates by 50 to 75 basis points this year. Larger rate cuts in the order of 100 to 200 basis points are expected next year.
For the Monetary Board’s meeting this month, Ng said the BSP could reduce rates by
25 basis points. The next meeting of the Monetary Board was moved earlier to October 16 instead of October 17.
“BSP started its rate cut cycle on 15 August, cutting by 25 bps to 6.25 percent. BSP chief sees 2 more rate cuts in 2024,” Ng said in a macroeconomic brief. “BSP’s inflation forecasts for 2024-2026 are all below 4 percent, paving the way for more rate cuts in the upcoming meetings,” he added. See “Inflation,”
‘SOLID’ IMPROVEMENT: PMI HITS 2-YEAR HIGH
By Cai U. Ordinario @caiordinario
FACTORIES nationwide increased their output in September 2024, posting the highest Purchasing Manager’s Index (PMI) level in two years, according to Standard & Poor’s (S&P) Global Market Intelligence.
In its latest report, the country’s PMI score reached 53.7 in September 2024 from only 51.2 in August 2024. S&P Global Market Intelligence said this is the “highest since mid-2022.”
This, S&P Global Market Intelligence said, also indicated “a solid improvement” in the state and health of the Philippine manufacturing sector.
“The Filipino manufacturing sector showed a significant improvement at the end of the third quarter, as indicated by the latest PMI data,” Maryam Baluch, Economist at S&P Global Market Intelligence, said.
“Overall new orders increased at a much faster pace, despite demand for Filipino goods taking dropping notably in international markets. Consequently, manu -
facturers boosted production at a strong rate,” she added. Baluch noted that while there was still weak international demand and there are supply chain issues, strong domestic demand is driving and will drive manufacturing sector growth moving forward.
She said this indicated improved confidence among manufacturers, especially since factories increased their hiring and purchasing activities, which was the highest since January 2023.
“Price pressures also rose due to supplier charge increases and recent weather events affecting raw material costs. However, inflationary pressures remain historically subdued which supports the central bank’s recent decision to
See “PMI,” A2
OUTSTANDING loans granted by Foreign Currency Deposit Units (FCDU) of banks posted year-on-year increases in the second quarter and first semester of 2024, the Bangko Sentral ng Pilipinas (BSP) reported.
The data showed outstanding FCDU loans increased by 1.6 percent or $240.7 million to $15.63 billion in the first quarter 2024, compared to the $15.39 billion posted in the same period last year.
In the January to June period this year, FCDU deposit liabilities reached $55.16 billion, which was 12.6 percent or $6.17 billion higher than the $48.99 billion posted in the same period last year.
On a quarterly basis, the BSP data showed FCDU loans granted contracted 2.7 percent or $438.58 million compared to the $16.07 billion posted in the period ending March 2024. The data also showed FCDU deposit liabilities were lower by about $3.46 billion or by 5.9
percent from the end-March 2024 level of $58.61 billion.
“The bulk of these deposits [$53.85 billion or 97.6 percent] continued to be owned by residents, essentially constituting an additional buffer to the country’s gross international reserves,” BSP said.
BSP said that for the reference quarter, the maturity profile of the FCDU loan portfolio remained predominantly medium to long term or those payable over a term of more than one year. This comprised 76.7 percent of total, slightly lower than 79.1 percent from the previous quarter.
FCDU loans granted to residents stood at $9.48 billion or 60.7 percent of total outstanding, of which majority went to the merchandise and service exporters at $2.49 billion or 26.2 percent; power generation companies, $2.12 billion or 22.4 percent; and towing, tanker, trucking, forwarding, personal and other industries,
See “FCDU,” A2
By Reine Juvierre S. Alberto @reine_alberto
THE national government’s outstanding debt rose by a trillion year-on-year,
reaching P15.550 trillion as of the end of August 2024. Latest data from the Bureau of the Treasury (BTr) showed
See “Debt,” A2
RACE TO THE POLLS SENATORIAL aspirants and Partylist candidates submit their certificates of candidacy from various locations across the country for the 2025 Philippine midterm elections, set for May 12, 2025. Over 18,000 positions will be up for grabs, including 318 seats in the House of Representatives and 12 in the Senate. Stories on pages A3 and A14 NONIE REYES & NONOY LACZA
BSP: Hot money inflows up 6-fold in January to August
By Cai U. Ordinario @caiordinario
HOT money inflows of the Philippines grew six-fold in the January to August period, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
The data showed foreign portfolio investments soared 542.9 percent or $1.69 billion to $1.1998 billion in January to August 2024 from $310.77 million in the same period last year. This, despite the contraction of 61.4 percent or $849.31 million from the $1.38 billion in net inflows posted in July 2024. The data showed the net inflows reached $533.95 million, resulting from the $1.37-billion gross inflows and the gross outflows of $836.78 million for the month.
“[This is] the highest/best in more than two years or since April 2022. [This was] largely brought about by the first local policy rate cut in nearly four years. The Fed also started to cut rates by a jumbo 0.50 on September 18,” Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said. The BSP said year-on-year, the registered investments in August 2024 are lower by $69.86 million or by 4.8 percent than the $1.44 billion recorded in August 2023, while gross outflows decreased by $450.35 million or by 35 percent versus the $1.29-billion gross outflows recorded for August 2023. The $533.95-million net inflows for August 2024 are larger by $380.49 million or by 247.9 percent than the $153.46-million net inflows recorded for the same period a year ago.
On a monthly basis, BSP said the $1.37-billion registered investments for the month are lower by $1.06 billion or by 43.7 percent compared to the $2.43-billion gross inflows recorded in July 2024.
The data also showed that the $836.78-million gross outflows for the month were lower by $212.54 million or by 20.3 percent, compared to the $1.05-billion gross outflows recorded for July 2024.
The US remains to be the top destination of outflows, receiving $436.33 million or 52.1 percent of total outward remittances.
Ricafort said given these positive data, he estimates the trend to continue on account of the recent 250-basis-point reduction in the reserve requirement ratio (RRR). This, he said, could infuse some P400 billion into the financial system.
“RRR cuts would increase banks’ loanable funds by about P400 billion with reduced intermediation costs and borrowing costs, thereby would help increase the demand for loans/credit. In turn, [this] would boost economic/ GDP growth and investment valuations, as part of monetary easing
PMI. . .
Continued from A1
ease monetary policy,” Baluch said.
measures, for as long as inflation remains well anchored and within the central bank’s target,” Ricafort said.
During the month, 51.2 percent of registered investments were in PSE-listed securities amounting to $701.83 million. Most of these were invested in banks; transportation services; holding firms; property; and food, beverage & tobacco. The remaining 48.8 percent were invested in Peso government securities worth $668.89 million.
Investments for the month mostly came from Singapore; the United States (US); the United Kingdom; Luxembourg; and Malaysia with combined share to total at 81.5 percent.
Earlier, the BSP said it could eliminate the RRRs in the next five years to help banks increase their lending and investment activities.
BSP Governor Eli M. Remolona Jr. said he is keen on bringing down the RRR to zero, effectively eliminating it, within his term. He assumed office in 2023 and is expected to end his term in 2029.
The BSP earlier reduced the RRR by 250 basis points (bps) to 7 percent from the initial 9.5 percent. The aim of the central bank is to bring this down to 5 percent in two years. (See: https://businessmirror.com.ph/2024/10/01/ gov-eli-eyeing-zero-rrr-in5-yrs-to-boost-bank-lending/)
Debt.
the country’s outstanding debt jumped by P1.201 trillion or 8.4 percent to P15.550 trillion as of end-August 2024 from the P14.349 trillion recorded in the same period in 2023.
Compared to the debt incurred in July 2024, debt declined by 0.9 percent from P15.690 trillion.
“This decline was primarily attributed to the revaluation effect of peso appreciation and the net repayment of external debt,” the Treasury said.
Broken down, the overall debt stock is composed of domestic securities at 69.40 percent while 30.60 percent are external obligations.
Domestic debt, mostly government securities, posted a doubledigit increase year-on-year, up by 10.2 percent to P10.791 trillion
FCDU.
Continued from A1
$1.68 billion or 17.7 percent.
Apart from these, Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said the appreciation of the peso versus the US dollar is helping factories manage their costs as well as lower oil prices which have registered 15 month lows and near three-year lows.
Ricafort added that prices of certain major global commodities have posted the lowest levels in 3-4 months. This is expected to help reduce the importation costs and overall input costs of some local manufacturers/producers.
Further, Ricafort noted the absence of Covid-19 restrictions for more than a year helped the manufacturing industry—and other industries—recover.
Inflation. . .
Continued from A1
SMBC’s own inflation forecast indicates that the increase in commodity prices could average 3.6 percent in 2024 and 3 percent in 2025.
This, the market analyst said, will also boost the country’s GDP growth to 6.2 percent this year and next year.
Earlier, the last two meetings of the Bangko Sentral ng Pilipinas (BSP) could see 25-basis-point reductions in key policy rates following expectations that inflation could be lower than the August inflation print.
from P9.791 trillion.
The amount of loans remained the same at P160 million from August 2023 to August 2024.
Month-on-month, domestic debt inched up by 0.4 percent or P38.46 billion from P10.753 trillion.
“The increase stemmed from the net issuance of government securities amounting to P45.05 billion, albeit partially offset by the P6.59 billion downward revaluation effect of peso appreciation on US-dollar-denominated domestic securities,” the Treasury explained.
Meanwhile, external debt grew by 4.4 percent year-on-year to P4.758 trillion as of end-August 2024 from P4.558 trillion.
Loans availed of by the government from foreign financers increased by 8.2 percent year-onyear to P2.245 trillion from P2.074 trillion. Government securities, such as bonds, also went up by 1.2
ICSC
Gross disbursements in the second quarter of 2024 reached $19.9 billion, higher by 3.9 percent than the previous quarter’s $19.15 billion mainly due to the increase in funding requirements of a foreign bank branch affiliate.
Meanwhile, loan repayments in the reference quarter of $20.33 billion were 11.5 percent higher than the previous quarter’s $18.23 billion. These, BSP said, resulted in overall net repayment. Cai U. Ordinario
Earlier, the Philippine Statistics Authority (PSA) reported that the country’s factory output posted a three-month high on the back of an increase in the production of electronics, transport equipment, and food products.
Based on the latest report on the Production Index and Net Sales Index or the Monthly Integrated Survey of Selected Industries, the Volume of Production Index (VoPI) was 5.3 percent in July 2024.
This was the highest since the 7.5 percent VoPI posted in April 2024. The VoPI was faster than the 3.6 percent posted in June 2024 and July 2023.
“When the Covid state of public health emergency was finally lifted, [it] led to further recovery of more businesses/industries, especially those hit-hard by the pandemic such as tourism, other services, among others, nearer or even exceeded prepandemic levels recently,” Ricafort said.
If this falls through, the key policy rate will be pegged at 5.75 percent by yearend. This will be the first time interest rates are below 6 percent since December 15, 2022 when key policy rates were raised to 5.5 percent from 5 percent.
On the sidelines of a seminar on deepening financial markets at the Asian Development Bank (ADB) on Wednesday, BSP Governor Eli M. Remolona Jr. also told reporters that a single rate cut of 50 basis points (bps) may be reserved for expectations of a “hard landing.” (See: https://businessmirror. com.ph/2024/09/26/rate-cutin-q4-likelier-to-be-dealt-as25-25-bps/) Cai U. Ordinario
percent to P2.513 trillion from P2.484 trillion. External debt contracted by 3.6 percent or P178.25 billion in August 2024 from P4.937 trillion in July 2024.
“The decline was brought about mainly by peso appreciation, which trimmed P194.90 billion, as well as net repayments of P4.17 billion, although stronger third-currencies added P20.82 billion in valuation effects,” the Treasury said.
The government’s outstanding debt is projected to reach P16.1 trillion at the end of 2024. This will further balloon to P20.7 trillion in 2028 or by the end of Marcos Jr.’s administration.
Debt-to-GDP (gross domestic product), or debt measured against economic growth, is currently at 60.9 percent and is expected to decline to 56.3 percent in 2028 as the economy is seen to expand.
Continued from A14
“This early though, we are looking at new technologies and alternative fuels to repower our natural gas plants, consistent with our own commitment to Net Zero by 2050,” said First Gen chairman Federico Lopez.
First Gen owns and operates in Batangas four natural gas-fired power plants with 2,017 megawatts of combined capacity. Most of its gas plants run on Malampaya gas.
“As it [falling hydrogen price] comes you will be able to do it; [so] you prepare for it,” said Lopez.
“Natural gas has the ability to do two things: it can generate a kilowatt-hour with half the emissions of a coal plant. Secondly, as more and more [REs] come into the grid, [which are] intermittent, you will need to have power plants that can ‘load follow,’ [or] that can ramp up and down very quickly. Natural gas can do that; coal cannot,” Lopez said. He said natural gas is the best bet for shepherding the energy transition in the country. “[But] they should not be there forever, and at some point we should really be able to take them down or utilize fuels, say like hydrogen to be able to power them,” he added. Lenie Lectura
House personalities file COCs
By Jovee Marie N. dela Cruz @joveemarie
PEAKER Ferdinand Mar -
Stin G. Romualdez filed his certificate of candidacy (COC) for another term as the representative of Leyte’s First District on Tuesday.
If elected, Romualdez will serve his sixth term in the House of Representatives. He submitted his COC at the Commission on Elections (Comelec) office in Tacloban City, overseen by lawyer Maria Goretti Canas, acting Provincial Election Supervisor of Leyte.
In his statement during the filing, Romualdez expressed gratitude to the people of Leyte for their continued trust and support, which has inspired him to continue serving both the province and the country. He was accompanied by several local officials, including Gov. Jericho Petilla, Vice Gov. Leonardo Javier, and the mayors from the First District of Leyte.
Under the leadership of Romualdez, the House passed significant laws, including Republic Act 10754, granting tax exemptions and benefits to persons with disabilities, and several key measures during the 18th and 19th Congresses, such as the SIM Registration Act, Maharlika Investment Fund law, and the New Agrarian Emancipation Act.
One of Romualdez’s legislative achievements is the passage of Republic Act 10754, a law that grants persons with disabilities (PWDs) exemption from the value-added tax (VAT), and other discounts and benefits during the Aquino administration.
Alongside Romualdez, several other political figures filed their COCs, including former President Gloria Arroyo for Pampanga’s Second District and Albay Rep. Joey Salceda, who filed his COC for governor through his lawyer.
Meanwhile, Bicol Saro Rep. Brian Raymund Yamsuan has committed to vigorously carry out his H.O.P.E. agenda focused on Health, Opportunities, Peace and Education now for the people of the Second District of Parañaque City in his bid to secure a district seat in the 2025 midterm elections.
Yamsuan unveiled his
H.O.P.E. platform before thousands of supporters gathered outside the Resurrection of Our Lord Parish in barangay BF Homes, Parañaque, where he attended mass with his wife, Cathy, before filing his COC. Yamsuan, who is going against incumbent Parañaque Rep. Gus Tambunting, was endorsed by sectoral leaders representing the youth, senior citizens, transport groups, women, and the LGBTQIA community during a brief program held at the parish’s parking area.
Yamsuan filed his COC as an independent candidate at the Comelec’s Office of the Regional Director-National Capital Region in San Juan City, where he again received a warm and exuberant welcome from women supporters belonging to the Progressive Ladies League of Parañaque.
Also, Agri Rep. Wilbert Lee, running under Aksyon Demokratiko, was the first to file a COC for senator. Lee pledged to continue his advocacy for affordable food, job security, and accessible healthcare in the Senate.
Former Manila Mayor Lito Atienza is aiming to return to Congress as the first nominee of the Buhay Party-list group for the 2025 elections. Atienza filed his Certificate of Nomination and Acceptance (Cona) at the Commission on Elections (COMELEC) Law Department Offsite Working Area in Manila City. “We are pro-life, we are against any threat to life, family, marriage, children, because we believe that all of us were created for a purpose,” Atienza said.
Meanwhile, Bayan Muna is also seeking a return to Congress, with human-rights lawyer and former Rep. Neri Colmenares leading the list of its nominees. If elected, Bayan Muna reiterated its commitment to fighting corruption and reducing the cost of essential goods and services.
Kabayan Party-list group, an advocate for health, housing, livelihood, education, and migrant worker welfare, also filed its Cona for the 2025 elections.
Represented by Rep. Ron P. Salo, the party renewed its pledge to champion the rights and welfare of Filipinos, particularly the underprivileged.
Go partners with local leaders
SEN. Christopher Go visited Gapan City, Nueva Ecija, on Monday, September 30 to provide aid and support to indigent residents from various sectors such as heads of families, solo parents, and Persons with Disabilities. These efforts are part of the senator’s commitment to uplift the lives of Filipinos in need, especially during these challenging times.
Go, who is an adopted son of Nueva Ecija, also attended the flag-raising ceremony of the city where he was conferred the distinction by Mayor Emary Joy Pascual as an adopted son of Gapan City for his continued service and unwavering support to its residents. Go then thanked the Gapan City Council for their resolution and assured them that he would continuously serve the Filipino people. He then recognized local officials for their untiring service. Among them were Congressman
Never trade short-term gains for long-term benefits–Gibo
By Rex Anthony Naval
NATIONAL Defense
Secretary Gilberto Teodoro on Tuesday said the people, particularly the government leadership, should never be inveigled by offers of assistance by countries or groups that want to intrude on its territory.
In the same way, Teodoro said local officials should not be tempted by offers of cash or other forms of bribes in order for foreign gangsters to be able to operate in their areas.
In a speech at the first Balangay Forum at Camp Gen. Emilio Aguinaldo in Quezon City, Teodoro said: “We should never trade short-term inflows of cash, cash inflows, for
Emerson Pascual, Mayor Pascual, Vice Mayor Inocencio Bautista, Jr., and the city councilors.
Later that day, the Senator gave additional assistance to the indigent residents of the city, highlighting in his speech that he remained focused on addressing the needs of the poor.
The relief operation was mounted at the Cong. Emerson Pascual Convention Center in Gapan City where they assisted a total of 1,667 beneficiaries.
Go, in partnership with the local government of Gapan City, gave financial support to the beneficiaries.
Mayor Pascual once again recognized the efforts and initiatives of Go in the city by saying, “Pero alam niyo ba mga batang Gapan, tayo po ay kusang naalala ni Senator Bong Go. Ibig sabihin, kusang pagmamahal. Ibig sabihin, kahit si Senator Bong Go ay umiikot sa buong Pilipinas, tayo ay nasa puso niya…si Senator Bong Go ay ating kapatid na isang batang Gapan.”
a long-term benefit in the future. “Likewise, in the same way, we should also make a call to action to our local officials and other people not to be tempted by spurious offers of cash or other assistance, in order for international criminal syndicates and their ilk to have a foothold in this country, because that is the easiest way to destroy the moral fabric, economic fabric,
and social fabric of this country.”
At the same time, Teodoro called on the people to support the government to secure the country’s maritime interests.
In his speech, Teodoro said, “The country needs to optimize the strong commitment of the country’s political leadership to further secure its maritime interests.”
“What we should do, because the leader’s political will is already there—no less than the President has already said time and time again that we will not waver—we will protect our maritime interests in accordance with international law, which is why in our Department and the Armed Forces we came up with the Comprehensive Archipelagic Defense Concept,” he added.
Teodoro also recognized the importance of engagements like the Balangay Forum for all Filipino citizens as they have a stake on the protection of the country’s jurisdiction and rights to the resources of our
maritime domain as stipulated by international law.
The Balangay Forum is the culminating activity of this year’s Maritime and Archipelagic Nation Awareness Month (MANAMo). Anchored on the MANAMo 2024 theme “Pamana ng Karagatan: Para sa Kinabukasan, Ating Ingatan,” the forum featured three panel discussions centered on key sub-themes: protecting the Philippines’ maritime domain, the role of science and technology in maritime security, and harnessing the potential of the Philippines’ blue economy.
These discussions tackled critical issues impacting the nation’s maritime interests and strategies for sustainable development and security.
Proclamation 316, series of 2017, designates September as Maritime and Archipelagic Nation Awareness Month, consolidating all maritime-related events to foster awareness and appreciation of the Philippines’ maritime and archipelagic identity.
SC denies Amparo plea of Roque’s daughter
TBy Joel R. San Juan @jrsanjuan1573
HE Supreme Court (SC) denied the petition for writ of amparo filed by the daughter of former presidential spokesman Herminio “Harry” Roque seeking to enjoin the House of Representatives Quad Committee (QuadCom) from ordering his arrest following his failure to attend the panel’s hearings on the alleged irregularities and criminal activities in illegal Philippine Offshore Gaming Operator (Pogo) hubs.
The Court reached the decision during its regular en banc session held on Tuesday.
Roque’s daughter Bianca Jacinta Roque sought the issuance of a writ of amparo claiming that the House Quad Committee’s (QuadCom) contempt and detention orders against his father threatened his rights to life, liberty and security.
But, the Court held that the writ of amparo “is not the proper remedy” against congressional contempt and detention orders.
“The scope of amparo is limited to extrajudicial killings and enforced disappearances or threats thereof, which are not present in this case,” SC Spokesman Camille Sue Mae Ting said at a press briefing.
However, the SC directed the respondent House QuadCom to comment on the petition for a writ of prohibition sought by Roque’s camp within 10 days from receipt of the Court’s resolution.
The issuance of a writ of prohibition was sought by the petitioner to permanently enjoin the QuadCom from requiring her father from producing any additional document or attending any future hearing in connection with the Pogo investigation.
She insisted that his father has the right to due process under Section 1, Article III of the Constitution.
The QuadCom’s inquiry, according to the petitioner, also violated Section 21, Article VI of the Constitution, “which requires the protection of the rights of persons appearing in, or affected by, such an inquiry.”
It can be recalled that the
QuadCom has required Roque to submit his Statement of Assets, Liabilities, and Net Worth (SALNs), his and his wife’s income tax returns, the documents per -
taining to their family corporation, and family matters such as the settlement of his aunt’s estate.
The petitioner said this order of the QuadCom is like compel -
ling his father to submit evidence against himself. Roques is currently in hiding to evade the arrest order issued by the House Quadcom.
DA rushes preparation of rice industry roadmap
VARIOUS government agencies, the academe, and the private sector have been tapped for the reconstructed technical writing team that would finalize the Philippine Rice Industry Roadmap (PRIR).
The Department of Agriculture (DA) issued Special Order 1463, taking cues from SO 599, Series of 2023 which indicated the need to provide clear, concise, and effective plans, ideas, and data, particularly on the crafting of a comprehensive industry roadmap of the commodity.
Under SO 1463, the team would have to settle on the overarching goals and objectives to guide the drafting of the PRIR enhancements and improvements and assess the existing draft document to identify any gaps and areas requiring refinement.
They would also collaborate with the National Rice Program (NRP) to arrange activities and establish timelines for finalizing the PRIR.
The team would have to present the draft report at a stakeholders’ summit or conference for review and feedback, consider and integrate the additional recommendations provided during the summit; and submit the final revised roadmap to Agriculture Secretary Francisco Tiu Laurel Jr. for approval.
Rice interventions
THE University of Asia and the Pacific’s Center for Food and Agribusiness (CFA) earlier said that rice interventions that aim to improve productivity and farm efficiency did
not make a “significant dent” in the industry.
Former CFA executive director Senen Reyes attributed this to “frequent changes in leadership, lack of continuity of programs, slow adoption of high-yielding varieties, and modern agronomic technologies, costly farm labor with still low usage of mechanization and post-harvest facilities, and low milling efficiency.”
According to Reyes, the utilization of the Rice Competitiveness Enhancement Fund (Rcef) and the budget for the NRP, together with the formulation and implementation of the Philippine Rice Industry Roadmap, was expected to improve and sustain the yields and incomes of farmers.
“One principle governing the implementation of the roadmap is the improvement of productivity, efficiency and profitability of small rice farmers,” he said in a statement.
However, Reyes noted that the final copy of the updated Philippine Rice Industry Roadmap 2021-2035, as mentioned in the National Agriculture and Fisheries Modernization and Industrialization Plan 2021-2030, “does not seem to be available among the commodity industry roadmaps in the DA’s website.”
“It is hoped that these legislative steps together with a yet to be finalized Philippine Rice Industry Roadmap will provide the directions towards increased rice productivity and farmers’ incomes, affordable and stable prices and supply to ensure food security,” Reyes said. Ada Pelonia
Sara getting bigger budget than what Leni got as VP
VBy Jovee Marie N. dela Cruz @joveemarie
ICE President Sara Duterte will receive a budget for 2025 that surpasses most of the allocations given to her predecessor, Leni Robredo, during her six-year term, a senior leader of the House of Representatives said on Tuesday.
Senior Deputy Speaker Aurelio Gonzales Jr. said the vice president will have sufficient resources to carry out her constitutional duties.
“The Office of the Vice President (OVP) led by VP Duterte will not be crippled despite the decision of the House to reduce her 2025 funding,” Gonzales, who represents the Third District of Pampanga, said.
Gonzales said to his credit, Speaker Ferdinand Martin G. Romualdez prevailed upon members of the minority, who were angered by the Vice President’s absence in plenary and committee deliberations on her budget, not to further cut it.
Gonzales said in 2023, Duterte’s first fullyear in office, she had P2.344 billion, including a P500-million confidential and intelligence fund (CIF) and a P920 million “financial assis-
tance” allocation; while Robredo had P428.6 million, without a CIF and a financial aid fund, on her first full-year in office in 2017.
Last year, her second full-year, VP Duterte had P1.874 billion, while Robredo had P543.9 million in 2018, he said.
Next year, the incumbent Vice President’s third year in office, she will have P733 million, while Robredo had P663.4 million in 2019, Gonzales added.
Robredo had P699.9 million in 2020, P900 million in 2021, which was her biggest budget, and P702 million in 2022, which she split with her successor.
The OVP had P500 million in 2016, which was shared by Robredo and his predecessor, Jejomar Binay.
“Clearly, VP Sara enjoyed much bigger budgets than what VP Leni had,” Gonzales stressed.
He pointed out that the House decision to reduce the OVP budget is consistent with the vision of Senate Minority Leader Aquilino Pimentel III on the principal job and duty of the Vice President.
Pimentel said Duterte should focus on her main duty as the country’s second highest elected official and successor to
the presidency and should not implement programs that are not included in her constitutional mandate.
On Wednesday, before adjourning for its recess, the House approved the recommendation of its Committee on Appropriations to reduce the OVP 2025 funding from P2.03 billion to P733 million.
The reduction was prompted by audit findings that OVP’s Financial Assistance (FA) schemes, such as the distribution of burial, educational, medical, and transportation funds, were redundant and duplicated similar programs efficiently being implemented by the Department of Social Welfare and Development (DSWD) and Department of Health (DOH).
The House realigned the entire P943 million FA fund of the OVP to the DSWD and DOH.
According to Marikina Rep. Stella Quimbo, senior vice chairperson of the Committee on Appropriations, the OVP and its FA beneficiaries could still access the FA allocation by sending their requests to the two departments.
She said no money was taken from OVP’s allocation for salaries.
Court convicts 10 UST Law frat members for Atio hazing death
The Regional Trial Court (RTC) in the City of Manila on Tuesday sentenced to reclusion perpetua 10 members of the Aegis Juris fraternity after they were found guilty of violation of Republic Act 8049 or Anti- h azing Law in connection with the hazing death of University of Santo Tomas law freshman horacio “Atio” Castillo III in September 2017.
Judge Shirley Magsipoc-Pagalilaun of Branch 11 also ordered the accused Ralph Trangia, Marcelino Bagtang, Arvin Balag, Mhin Wei Chan, Axel Munro h ipe, Oliver John Audrey Onofre, Joshua Joriel Macabali, Robin Ramos, Jose Miguel Salamat and Danielle h ans Matthew to jointly and severally pay the heirs of Atio the amount of P461,8000 as actual expenses; P75,000 as civil indemnity; P75,000 as moral damages; and P75,000 as exemplary damages.
The said amounts will earn interest of 6 percent per annum upon finality of the decision until fully paid.
The accused were found guilty beyond reasonable doubt of violation of Section 4(a) of RA 80499 which states: “If the person subjected to hazing or other forms of initiation rites suffers any physical injury or dies as a result thereof, the officers and members of the fraternity, sorority or organization who actually participated in the infliction of physical harm shall be liable as principals.”
The said provision also imposes the penalty of reclusion perpetua against those responsible for the death, rape, sodomy or mutilation of the person subjected to initiation rites.
“In this case, the act of hazing and the participation of the ten (10) accused in the hazing were duly proven not only thru prima facie evidence of their presence but also by direct evidence through the categorical statement of [Mark] Ventura, a hazing participant turned state witness.” Ventura testified that all the 10 accused were present when the final rites for Atio started at 2:00 a.m. of September 17, 2017 inside the fraternity library.
“Indeed, the presence of the 10
accused at the final rites for Atio and their actual participation were more than sufficient to establish their roles in the conspiracy of hazing,” the court decision read.
Atio was declared dead on arrival at the Chinese General hospital (CGh ) on September 17, 2017.
Based on the autopsy conducted by physicians of the CG h , the cause of his death was “severe blunt traumatic injuries to both upper limbs.”
In an interview after hearing the guilty verdict against those responsible for her son’s death, Carmina Castillo maintained that the University of Santo Tomas management should also be held responsible for Atio’s death.
“It has been proven that Aegis Juris has been practicing hazing and it is time to check your policies and laws in the school,” Carmina said.
Carmina also blamed the UST’s Faculty of Civil Law for its failure to prevent the death of Atio.
“They should have prevented the hazing, the crime of hazing from happening. And now we are very happy. We have gotten our conviction,” she added.
Atio’s father echoed his wife’s call to hold the school responsible for his son’s death.
“I think it’s about time heads should roll in the UST,” he added.
In a statement, UST Faculty of Civil Law Dean Nilo Divina expressed his sympathies and prayers to the parents of Atio and stressed that the Court’s decision “underscores the importance of the rule of law and our trust in due process and the legal system.”
h owever, Divina denied the claim of Atio’s mom that the UST Faculty Civil of Law failed in its duty to protect her son.
“The university and the faculty have always implemented and upheld policies that promote the safety and welfare of all students. Unfortunately, no institution is spared from the actions of individuals who choose to disregard these measures,” Divina said.
“We remain committed to ensuring a safe environment and continuously improve our efforts to prevent a repetition of such tragedy,” he added. Joel R. San Juan
TYP h OON Julian maintained strength as it moved outside the Philippine Area of Responsibility Monday morning but weather forecasters warned that residents of affected areas in Northern Luzon have not seen the last of the typhoon as it may again re-enter the PAR Wednesday afternoon and linger in the area before leaving the country by 2:00 p.m. Friday.
In its 5:00 p.m. bulletin issued on Tuesday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said Julian continues to affect the country’s weather system, inducing rains affecting some areas in Luzon that will have heavy to intense rain that may last until Thursday afternoon.
In the 11 a.m. Weather Bulletin, Pagasa said heavy to intense rains are expected on Wednesday in Batanes, Babuyan Island, and Ilocos Norte. Mainland Cagayan, Cordillera Administrative Region, and the rest of Ilocos Region will experience moderate to heavy rains.
heavy to intense rains which means 100 to 200 mm of rain will continue until October 3 in Batanes and Babuyan Island while 50 to 100 mm of rain will be experienced in Ilocos Norte and Ilocos Sur.
The eye of the storm was spotted 245 kilometers west of Itbayat, Batanes, outside PAR and is packing maximum sustained winds of 195 kilometers per hour near the center with gustiness of up to 240 kmh.
It is moving north northwestward slowly, according to Pagasa.
‘Appointed officials deemed resigned upon filing of COCs’
TBy Joel R. San Juan @jrsanjuan1573
he Supreme Court (SC) on Tuesday issued a temporary restraining order (TRO) enjoining the Commission on e lections (Comelec) from implementing its resolution which allows public appointive officials to hold office even after being nominated as a partylist representative.
The SC issued the TRO against the implementation of Section 11 of Comelec Resolution No. 11045 following its regular en banc session.
The said provision states that
“public officials who accept a nomination as a party-list representative may continue to hold office even after acceptance of their nomination.”
“The Court granted the prayer for TRO, effective immediately. Comelec is enjoined from implementing Section 11 of its Resolution No. 11045. All parties are required to observe the status quo that public appointive officials are deemed resigned upon filing their certificate of candidacy [COC],” SC Spokesman Camille Sue Mae Ting said during a press briefing.
The TRO was issued in response to the petition filed by election
lawyer Romulo Macalintal which seeks to declare the assailed section of the Comelec resolution unconstitutional.
In the said petition, Macalintal sought the Court’s immediate issuance of a status quo ante order (SQA), TRO and/or a writ of preliminary injunction directing the respondent Comelec to cease and desist from implementing the said provision.
Macalintal argued that the poll body “committed grave abuse of discretion amounting to lack or excess of jurisdiction” when it promulgated the questioned resolution. he claimed that the assailed
provision will allow public appointive officials to engage in partisan political activities and even facilitate the misuse of public funds to support partisan political activities.
The petitioner added that it will also give undue favor and unwarranted advantage to public appointive officials who will be allowed to seek elective offices without relinquishing their appointive posts, thus, violating the equal protection of the laws guaranteed under the Constitution.
The Court directed the Comelec to comment on Macalintal’s petition within a non-extendible period of 10 days.
BOI: Chinese firms keen on PHL expansion
TBy Andrea E. San Juan @andreasanjuan
he Board of Investments (BOI) said five Chinese firms are interested to invest and expand in the Philippines particularly in the areas of electric vehicle, consumer goods manufacturing, and “green” metals.
The investment promotion agency attached to the Department of Trade and Industry (DTI) said the 6-day Promotion Roadshow in China, which kicked off on September 8, generated “significant” interest from various sectors.
According to the BOI, the roadshow covered Beijing, h ong Kong and Xiamen, featuring three main activities: participation in the 2024 China International Fair for Investment and Trade (CIFIT), roundtable discussions with “strategic” partners, and one-on-one company meetings.
For one, BOI said during a roundtable meeting in Xiamen, five companies attended to discuss their investment and expansion plans in the Philippines in e V and consumer goods manufacturing, infrastructure, green metals, and mining activities.
The BOI said, however, that they
cannot disclose yet the names of the five companies due to the “confidentiality” of the investments.
“We regret that we are constrained to disclose the names of the companies noting the confidentiality of the planned investments at this stage,” BOI told the B usiness M irror in a Viber message on Tuesday.
A roundtable meeting in Beijing, which was hosted by the Bank of China, gathered DTI’s strategic partners in Beijing, AS e ANChina Centre (ACC), the Power Battery Applications Committee of China Industrial Association of Power Sources (CIAPS-PBA), China Overseas Development Association (CODA), and the RC e P Industry Cooperation Committee (RICC).
BOI said China is among the Philippines’s top sources of foreign investments.
“For BOI-approved investments from January to September 2024, China clinched the 7th spot, with investment approvals amounting to P1.004 billion, an increase of 237 percent compared to the same period last year,” BOI said in a statement.
The agency said Chinese firms have poured funds into financial and insurance activities, real estate and e V assembly sectors in the country this year.
In 2023, BOI said the projects it approved from Chinese firms amounted to P619 million.
On the Investment Promotion Agencies (IPA) approvals, BOI noted that China claimed the 6th spot last year, with approved investments of P6.778 billion.
In the first semester of 2024, China ranked 12th with P932.53 million in approved investments, an 81-percent uptick compared to the same period in 2023, wherein the Chinese investment approvals were at P515.46 million, ranking 11th.
Throughout the roadshow, the BOI and the Philippine Trade and Investment Centers (PTICs) in China engaged with 21 companies in various sectors such as renewable energy (R e ) equipment manufacturing, electric vehicle manufacturing, and agribusiness, “aligned with the featured and priority sectors for promotion to China.”
For his part, BOI Managing h ead and Trade Undersecretary Ceferino S. Rodolfo conveyed to the investors the goal of transforming the Philippine economy to enter a “virtuous cycle of sustained economic growth.”
e vents like this showcase the Philippine's proposition as the regional hub for smart and sustainable manufacturing
and services industries, that will ultimately generate green and sustainable jobs for the Filipino people, which has been our primary objective,” added Rodolfo.
From September 8 to 11, BOI said the Philippine booth at the CIFIT saw “a significant stream of visitors” with business interests in renewable energy, new energy vehicles, food manufacturing, solar PV manufacturing and trading activities.
“Since 2005, the Philippines has been an active participant in CIFIT, maintaining a consistent and prominent presence through some years, including the key participation as the Guest Country of h onor (GC h ) in 2020 and 2021,” BOI said. Through these meetings, Rodolfo discussed the Corporate Recovery and Tax Incentives for e nterprises (CR e AT e ) Act, the Philippines’ advantages on preferential market access, and the sectoral opportunities in the Philippines. BOI said Rodolfo also had an “institutional meeting,” particularly with Secretary Algernon Yau of the Commerce and e conomic Development Bureau (C e DB) of h ong Kong.
“Further cooperation and possible collaboration efforts between the two countries were discussed,” said the BOI.
The National Disaster Risk Reduction and Management Council (NDRRMC) reported in its Situation Report for TC Julian issued at 8:00 a.m. on Tuesday that 22,645 families or 77,249 persons were affected by Julian since it entered PAR on September 27. Of the affected population, 254 families, or 762 persons were served inside 38 evacuation centers, and 327 families or 1,031 persons were served outside eCs.
The inclement weather also compelled local governments to suspend classes and work in affected areas in Northern Luzon. heavy rains and strong winds brought by Julian have affected the operation of several airports, including the Laoag International Airport, Vigan Airport, Lingayen Airport, San Fernando Airport, Baguio Airport, Tuguegarao Airport due to flooding and poor visibility, prompting airport managers to cancel scheduled flights.
Operations of six seaports were also affected with some 150 passengers having been stranded by the cancellation of ferrying operations.
Tropical Cyclone Wind Signal 1 is still up in Ilocos Norte, Ilocos Sur, La Union, the northern and western portions of Pangasinan (Lingayen, City of Alaminos, Anda, San Fabian, Mangaldan, Burgos, Dagupan City, Bolinao, Sual, Labrador, Bani, Pozorrubio, Mabini, Binmaley, San Jacinto, Bugallon, Infanta, Agno, Calasiao, Dasol, Sison), Apayao, Abra, Kalinga, Mountain Province, Ifugao, Benguet, Batanes, Cagayan including Babuyan Islands, the northern and western portions of Isabela (Cabagan, Tumauini, Ilagan City, Santo Tomas, Delfin Albano, Alicia, San Mateo, Aurora, Quezon, Ramon, Naguilian, Roxas, Luna, City of Cauayan, Angadanan, City of Santiago, Reina Mercedes, San Manuel, Cabatuan, Quirino, Gamu, San Isidro, Mallig, Cordon, Burgos, Maconacon, San Pablo, Santa Maria, Benito Soliven), and the northwestern portion of Nueva Vizcaya (Diadi, Bagabag, Quezon, Solano, Villaverde, Ambaguio, Bayombong, Bambang, Kayapa)
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SKYWAY
Editor: Angel R. Calso
Israel launches ground offensive against Hezbollah in Lebanon, escalating conflict
By Josef Federman, Abby Sewell & Matthew Lee
The Associated Press
JERUSALEM—Israeli ground forces crossed into southern Lebanon
early Tuesday, marking a significant escalation of an offensive against Hezbollah militants and opening a new front in a yearlong war against its Iranian-backed adversaries.
The incursion follows weeks of heavy blows by Israel against Hezbollah— including an airstrike that killed its longtime leader, Hassan Nasrallah—and seeks to step up the pressure on the group, which began firing rockets into northern Israel after the start of the war in Gaza. The last time Israel and Hezbollah engaged
in ground combat was a month-long war in 2006.
The Israeli military said in a brief statement that it began “limited, localized and targeted ground raids” against Hezbollah targets in southern Lebanon.
“These targets are located in villages close to the border and pose an immediate threat to Israeli communities in northern Israel,” it said.
There was no word on how long the operation would last, but the army said soldiers had been training and preparing for the mission in recent months. Israel has said it will continue to strike the group until it is safe for displaced Israelis from border communities to return to their homes.
Ahead of the Israeli announcement, United States officials said Israel launched small ground raids inside Lebanon,
and Israel declared three small border communities to be a “closed military zone,” restricting access only to army personnel.
There were no reports of direct clashes between Israeli troops and Hezbollah militants. But throughout the evening, Israeli artillery units pounded targets in southern Lebanon and the sounds of airstrikes were heard throughout Beirut.
Smoke rose from the capital’s southern suburbs, where Hezbollah has a strong presence, shortly after Israel ordered residents of three buildings to evacuate.
Israel launches risky phase of fighting
ISRAEL has been emboldened by its recent battlefield gains against Hezbollah and appears intent on delivering a knockout blow to its archenemy. But a ground
operation marks a new and potentially risky phase of fighting. It also threatens to unleash further devastation on Lebanon, where hundreds have been killed in recent Israeli strikes and hundreds of thousands have been displaced.
Hezbollah is a well-trained militia, believed to have tens of thousands of fighters and an arsenal of 150,000 rockets and missiles. The last round of fighting in 2006 ended in a stalemate.
Both sides have spent the past two decades preparing for their next showdown.
While Hezbollah has built up a formidable arsenal, Israel has invested great sums into training and intelligence gathering.
Recent airstrikes wiping out most of Hezbollah’s top leadership and the explosions of hundreds of pagers and walkie-talkies belonging to Hezbollah
indicate that Israel has infiltrated deep inside the group’s upper echelons.
Hezbollah vowed Monday to keep fighting even after its recent losses. The group’s acting leader, Naim Kassem, said in a televised statement that Hezbollah would be ready for a ground operation. He said commanders killed in recent weeks have already been replaced. The man widely expected to take over the top post from Kassem is Hashem Safieddine, a cousin of Nasrallah who oversees Hezbollah’s political affairs.
Israel shifts attention from Gaza to Lebanon
ISRAELI strikes in recent weeks have hit what the military says are thousands of militant targets across large parts of Lebanon. Over 1,000 people have been
killed in Lebanon in the past two weeks, nearly a quarter of them women and children, according to the Health Ministry. Early Monday, an airstrike hit a residential building in central Beirut, killing three Palestinian militants, as Israel appeared to send a message that no part of Lebanon is out of bounds.
Israel declared war against the Hamas militant group in the Gaza Strip after Hamas’ cross-border attack on October 7, 2023, that killed 1,200 Israelis and took 250 others hostage. More than 41,000 Palestinians have been killed in Gaza, and just over half the dead have been women and children, according to local health officials.
Hezbollah began firing rockets into Israel on October 8 in solidarity with the
Continued on A10
Wednesday, October 2, 2024
UN General Assembly concludes amid escalating global tensions and calls for multilateral action
By Edith M. Lederer & Jennifer Peltz The Associated Press
UNITED NATIONS—They gathered at the United Nations surrounded by unsettling warnings of an escalating conflict that could engulf the Middle East and further shatter international relations that are based on “multilateralism”— nations working together and sharing power. A week later, world leaders headed home with the prospect of a broader war intensifying and global divisions front and center, not only in the Mideast but elsewhere.
There was no expectation of major breakthroughs in the public and private meetings at the annual UN General Assembly meeting of presidents, premiers and other leaders. There rarely is. But this year was especially grim, with no end in sight to the three major conflicts in Gaza, Ukraine and Sudan, and Israeli military action in Lebanon escalating.
ticularly tumultuous” and pointing to the “violent conflicts” that are raging.
“This is, unfortunately, not an exhaustive list of the crises and conflicts affecting member states of the United Nations,” he lamented.
Parts of the world are broken THERE was no disagreement that multilateralism is broken, that this founding principle of the United Nations—established in 1945 on the ashes of World War II—needs urgent resuscitation to deal with the challenges the world faces today.
One example: During the very hour on Friday when Israeli Prime Minister Benjamin Netanyahu told the General Assembly that his country genuinely wants peace— a goal stressed by virtually every leader—Israeli warplanes were bombing areas around Beirut in a lethal barrage.
“The world doesn’t stop for the general debate,” he told reporters Monday. “So we were focused very much on what member states said, but we continue to be very much focused on what is going on in the world outside of this building.”
There was one positive development welcomed by SecretaryGeneral Antonio Guterres and many leaders: The adoption of a “Pact for the Future” at a summit just before world leaders began their addresses to the General Assembly. The 42-page blueprint aims to bring the 193 UN member nations together to meet today’s challenges, from climate change and artificial intelligence to escalating conflicts and increasing inequality and poverty.
in the world, like others didn’t exist or didn’t count.”
Still, he said, the consensus on the Pact for the Future “shows that multilateralism is not dead and buried.”
From the vantage points where leaders of smaller or less powerful nations sit, the UN can’t change the world without changing itself.
Founded with 51 member countries, it now has 193, and many feel included only to a point.
“We must ensure that global institutions give developing countries, especially small, vulnerable ones like my own, seats at the tables of decision-making,” said Barbados’ prime minister, Mia Mottley. “The anger and mistrust of our citizens in institutions, in leaders and in multilateralism and its processes which exclude, while yielding much talk and little action, is very real.”
During the global gathering, the assembly heard from 190 countries—all but Brunei, Myanmar and Afghanistan. The speakers included 71 heads of state, 42 heads of government, six vicepresidents and crown princes, eight deputy prime ministers, 53 ministers, three vice-ministers and seven heads of delegations. Usually, the UN Security Council holds one meeting during the high-level week, but this year the council met about a half-dozen times because of the global conflicts and crises.
UN Secretary-General Antonio Guterres’ warning that multilateralism needs to be brought back “from the brink” added to the gloom, along with speech after speech decrying failures to tackle climate change and address growing inequalities between rich and poor nations, and warning of artificial intelligence with no guardrails and the potential of killer weapons with no human control.
In the last few days, Yang said, the world has seen “an extremely dramatic escalation” between Israel and Hezbollah in Lebanon that risks war in the entire Middle East. “As we speak, peace in the Middle East is hanging delicately on a shoestring,” he warned.
General Assembly President Philémon Yang concluded the weeklong, high-level meeting Monday afternoon, calling it “par -
UN spokesman Stephane Dujarric said this year’s meeting of leaders—with its marquee speeches known in UN-speak as the “general debate”—took place at “a very serious and a very intense time.”
It challenges leaders of countries large and small, rich and poor, to turn promises into actions. Whether that happens remains to be seen. Yang, the assembly president, said his office has already instituted “an awareness-raising campaign” to spur implementation.
Screeds against selfishness abounded
In an illustration of the blend of woe and weary hope that percolated through the gathering, Burundi’s foreign minister, Albert Shingiro, on Monday decried an international community where “most of us act like we were alone
Japan elects Shigeru Ishiba as new prime minister, snap election slated in October
By Mari Yamaguchi The Associated Press
TOKYO—Japan’s parliament on Tuesday formally elected Shigeru Ishiba, head of the governing Liberal Democratic Party, as the country’s new prime minister.
Ishiba was chosen as the party’s leader on Friday to replace Fumio Kishida, who then stepped down earlier on Tuesday to pave the way.
Ishiba will announce his new Cabinet later on Tuesday.
Kishida took office in 2021 but left so his party could have a fresh leader after his government was dogged by scandals.
Ishiba plans to call a parliamentary election for October 27.
“I believe it is important to have the new administration get the public’s judgment as soon as possible,” Ishiba said Monday in announcing his plan to call a snap election.
Opposition parties criticized Ishiba for allowing only a short period of time for
his policies to be examined and discussed in parliament before the national election.
Kishida had announced in August he would resign at the end of his three-year term.
Kishida and his ministers stepped down at a Cabinet meeting on Tuesday morning, Chief Cabinet Secretary Yoshimasa Hayashi said. Kishida left his office after a brief sendoff ceremony in which he was presented a bouquet of red roses and applauded by his staff and former Cabinet members.
“As we face a critical moment in and outside the country, earnestly hope key policies that will pioneer Japan’s future will be powerfully pursued by the new Cabinet,” Kishida said in a statement, citing the need to bolster security amid a deepening global divide, such as Russia’s war in Ukraine, while tackling a declining birthrate and population, as well as economic and political reforms at home.
Ishiba earlier announced his party’s leaders ahead of naming his Cabinet. Former Environment Minister Shinjiro Koizumi, who
came in third in the party leadership race, will head the party’s election task force. He is expected to name defense experts Takeshi Iwaya as foreign minister and Gen Nakatani as defense chief.
The majority of his Cabinet ministers, like Ishiba, are expected to be unaffiliated with factions led and controlled by party heavyweights, and none are from former Prime Minister Shinzo Abe’s powerful group linked to damaging scandals.
Ishiba’s lack of stable power base could also mean a fragility of his government, and “could quickly collapse” even though Ishiba hopes to build up party unity as it prepares for the upcoming election, the liberal-leaning Asahi newspaper said.
The move is also seen as revenge by Ishiba, who was largely pushed to the side during most of Abe’s reign.
Ishiba has proposed an Asian version of the NATO military alliance and more discussion among regional partners about the use of the US nuclear deterrence. He also
suggested a more equal Japan-US security alliance, including joint management of US bases in Japan and having Japanese Self Defense Force bases in the United States.
Ishiba outlined his views in an article to the Hudson Institute last week.
“The absence of a collective self-defense system like NATO in Asia means that wars are likely to break out because there is no obligation for mutual defense. Under these circumstances, the creation of an Asian version of NATO is essential to deter China by its Western allies,” he wrote.
Ishiba proposes combining of existing security and diplomatic groupings, such as the Quad and other bilateral and multilateral frameworks involving the United States, Australia, New Zealand, South Korea and the Philippines.
He also noted that the Asian version of NATO can also consider sharing of the control of US nuclear weapons in the region as a deterrence against growing threats from China, North Korea and Russia.
Israel launches ground offensive against Hezbollah in Lebanon, escalating conflict
Continued from A9
Palestinian militant group.
Israel and Hezbollah have exchanged fire almost every day since then, coming close to a full-fledged war on several occasions but stepping back from the brink.
In recent weeks, Israel’s war against Hamas has scaled back and it turned its focus northward toward Lebanon, stepping up the attacks on Hezbollah.
Israeli leaders say they want Hezbollah to implement the US resolution that ended the 2006 war, which required the group to withdraw some 20 miles (30 kilometers) from the Israeli border.
Key setbacks for Hezbollah
HEZBOLLAH has suffered key setbacks in recent weeks. Before Nasrallah’s assassination, a series of mysterious explosions of pagers and walkie-talkies blamed on Israel killed or wounded hundreds of people, many of them Hezbollah members. And Israeli airstrikes
have killed most of the group’s senior commanders.
But Hezbollah continued to launch rockets and missiles into Israel and is still believed to have thousands of fighters near the Israeli border.
Israeli leaders for years have accused Hezbollah of hiding weapons and fighters inside homes and other civilian structures in border villages. Tens of thousands of Lebanese civilians have fled southern Lebanon in recent weeks fearing an Israeli military onslaught.
Hezbollah has few air defenses, giving the Israeli air force freedom of action over Lebanon’s skies. But a ground operation will be much more challenging, with Hezbollah forces embedded and hiding in local communities and familiar with the local terrain.
Still, Hezbollah’s capabilities are unclear. It’s possible Hezbollah is holding back to save resources for a bigger battle. But the militant group might also be in disarray after Israeli intelligence apparently
penetrated its highest levels.
Some European countries began pulling their diplomats and citizens out of Lebanon on Monday. Germany sent a military plane to evacuate diplomats’ relatives and others. Bulgaria sent a government jet to get the first group of its citizens out.
Israel has a long and bloody history in Lebanon. It briefly invaded in 1978 in a strike against Palestinian militants. It invaded again in 1982 in an operation that turned into an 18-year occupation of southern Lebanon.
The stepped-up action against Hezbollah also could raise the risk of a broader regionwide war as Israel confronts a series of foes backed by archenemy Iran.
Israel carried out an airstrike in Yemen against the Houthi militia in response to a series of missile strikes. Israeli Prime Minister Benjamin Netanyahu has also threatened Iran, warning the Tehran government that Israel is capable of striking anywhere in the Middle East.
The United States and its allies—
including France, which has close ties to Lebanon—have called for a cease-fire, hoping to avoid further escalation that could draw in Iran and set off a wider war.
But Netanyahu has shown little interest, as his country racks up military achievements against a longtime foe.
French Foreign Minister Jean-Noël Barrot, visiting Beirut on Monday, urged Israel to refrain from a ground offensive. He also called on Hezbollah to stop firing on Israel, saying the group “bears heavy responsibility in the current situation, given its choice to enter the conflict.”
Lebanese Prime Minister Najib Mikati, speaking after meeting with Barrot, said the country is committed to an immediate cease-fire followed by the deployment of Lebanese troops in the south, in keeping with a United Nations Security Council resolution that ended the 2006 war but was never fully implemented.
Sewell reported from Beirut and Lee reported from Washington.
Nobel peace laureate Muhammad Yunus, head of Bangladesh’s interim government, said “time demands new attitudes, new values, new compacts, across communities and countries.”
“I believe, the world needs to engage on a shared vision of ‘three zeroes’ that we can materialize together, targeting zero poverty, zero unemployment, and, zero net carbon emissions -- where a young person anywhere in the world will have opportunities to grow, not as a job seeker but as entrepreneur,” he told the assembly.
For all the alarm, leaders here are politicians, and many made a point of appealing at least somewhat to optimism. Perhaps none stressed it as much as US President Joe Biden, making his last speech at the annual meeting after more than a half-century in public life. He noted that humanity has brought to a close some of the seemingly intractable threats, conflicts and injustices that beset the world when he was elected as a senator in 1972, from the Cold War to apartheid in South Africa.
“Things can get better,” Biden said. “We should never forget that.”
Edith M. Lederer, chief UN correspondent for The Associated Press, has covered international affairs for more than a halfcentury. She and Jennifer Peltz cover the UN General Assembly for AP every year.
5.4 million Haitians face starvation amid surging food insecurity, gang violence
By Evens Sanon & Dánica Coto The Associated Press
PORT-AU-PRINCE, Haiti—Nearly 6,000 people in Haiti are starving, with nearly half the country’s population of more than 11 million people experiencing crisis levels of hunger or worse as gang violence smothers life in the capital of Port-au-Prince and beyond, according to a new report released Monday.
The number of Haitians facing crisis, emergency and famine levels of hunger increased by 1.2 million in the past year for a total of 5.4 million as gang violence disrupts the transportation of goods and prevents people from venturing out of their homes to buy food, according to the report by the Integrated Food Security Phase Classification.
“This is one of the highest proportions of acutely food insecure people in any crisis around the world,” said UN spokesman Stéphane Dujarric.
The 5,636 people who are facing starvation, the worst level, live in makeshift shelters across the metropolitan area, according to the report, which noted that another 2 million Haitians face severe hunger.
“This is shocking,” said Martine Villeneuve, Haiti director for the nonprofit Action Against Hunger. “We were not expecting that level. Two million...is massive.”
Villeneuve told The Associated Press that she also was surprised that some of the 2 million people hit by hunger don’t even live in places directly affected by gang violence.
While much of the hunger is directly tied to gang violence, double-digit inflation also has limited what many Haitians can afford to buy, with food now representing 70 percent of total household expenditures.
The cost of a food basket increased more than 11 percent in the past year, with inflation hitting 30 percent in July.
In addition, parts of Haiti are still struggling to recover from the August 2021 earthquake, various drought episodes, and Hurricane Matthew, which struck Haiti as a Category 4 storm in 2016.
Gang violence, however, accounts for most of the hunger, with gangs controlling 80 percent of Port-au-Prince and the roads that lead to and from northern and southern Haiti, preventing farmers from delivering goods and nonprofits from delivering aid. From April to June, at least 1,379 people were reported killed or injured, and another 428 kidnapped. In addition, gang violence has left more than 700,000 people homeless in recent years.
A UN-backed mission led by Kenya that began in late June and is aimed at quelling gang violence in Haiti has liberated some communities. But officials say much work remains to be done as the US, Haiti and others call for a UN peacekeeping mission to secure funding and personnel that the current mission lacks.
“Haiti continues to face a worsening humanitarian crisis, with alarming rates of armed gang violence disrupting daily life, forcing more people to flee their homes and levels of acute food insecurity to rise,” the report stated.
In 2014, only 2 percent of Haiti’s population was food insecure, a number that has soared to nearly 50 percent, according to Mercy Corps, one of several nonprofits that called for an increase in funding on Monday. Dujarric said humanitarian food agencies and nonprofits in Haiti need an additional $230 million until year’s end.
Seventy percent of people living in makeshift shelters are experiencing crisis levels of hunger or worse, the report found.
Among those experiencing hunger is Joceline St-Louis, a 28-year-old mother of two boys, 5 and 1. “Food doesn’t come around very often,” she said, adding that she depends on others to feed her children.
“When an organization does provide food, there’s a major fight,” she said. St-Louis said she has to take her 1-yearold to a clinic so he can receive a peanut butter mix “so that his body doesn’t collapse in my arms.”
45,000 dockworkers strike across 36 US ports, risking supply chain disruptions
By Tom Krisher & Tassanee Vejpongsa The Associated Press
PHILADELPHIA—
Dockworkers at ports from Maine to Texas began walking picket lines early Tuesday in a strike over wages and automation that could reignite inflation and cause shortages of goods if it goes on more than a few weeks.
The contract between the ports and about 45,000 members of the International Longshoremen’s Association expired at midnight, and even though progress was reported in talks on Monday, the workers went on strike. The strike affecting 36 ports is the first by the union since 1977.
Workers began picketing at the Port of Philadelphia shortly after midnight, walking in a circle at a rail crossing outside the port and chanting “No work without a fair contract.”
The union had message boards on the side of a truck reading: “Automation Hurts Families: ILA Stands For Job Protection.”
Local ILA president Boise Butler said workers want a fair contract that doesn’t allow automation of their jobs.
Shipping companies made billions during the pandemic by charging high prices, he said. “Now we want them to pay back. They’re going to pay back,” Butler said.
He said the union will strike for as long as it needs to get a fair deal, and it has leverage over the companies.
“This is not something that you start and you stop,” he said.
“We’re not weak,” he added, pointing to the union’s importance to the nation’s economy At Port Houston, at least 50 workers started picketing around midnight local time carrying signs saying “No Work Without a Fair Contract.”
The US Maritime Alliance, which represents the ports, said Monday evening that both sides had moved off of their previous wage offers. But no deal was reached.
The union’s opening offer in the talks was for a 77 percent pay raise over the six-year life of the contract, with President Harold Daggett saying it’s necessary to make up for inflation and years of small raises. ILA members make a base salary of about $81,000 per year, but some can pull in over $200,000 annually with large amounts of overtime.
But Monday evening, the alliance said it had increased its offer to 50 percent raises over six years, and it pledged to keep limits on automation in place from the old contract. The union wants a complete ban on automation. It wasn’t clear just how far apart both sides are.
“We are hopeful that this could allow us to fully resume
collective bargaining around the other outstanding issues in an effort to reach an agreement,” the alliance statement said.
In a statement early Tuesday, the union said it rejected the alliance’s latest proposal because it “fell far short of what ILA rank-and-file members are demanding in wages and protections against automation.” The two sides had not held formal negotiations since June.
“We are prepared to fight as long as necessary, to stay out on strike for whatever period of time it takes, to get the wages and protections against automation our ILA members deserve,” Daggett said in the statement. “They must now meet our demands for this strike to end.”
The alliance said its offer tripled employer contributions to retirement plans and strengthened health care options.
Supply chain experts say consumers won’t see an immediate impact from the strike because most retailers stocked up on
goods, moving ahead shipments of holiday gift items.
But if it goes more than a few weeks, a work stoppage would significantly snarl the nation’s supply chain, potentially leading to higher prices and delays in goods reaching households and businesses.
If drawn out, the strike will force businesses to pay shippers for delays and cause some goods to arrive late for peak holiday shopping season—potentially impacting delivery of anything from toys or artificial Christmas trees to cars, coffee and fruit.
The strike will likely have an almost immediate impact on supplies of perishable imports like bananas, for example. The ports affected by the strike handle 3.8 million metric tons of bananas each year, or 75 percent of the nation’s supply, according to the American Farm Bureau Federation.
It also could snarl exports from East Coast ports and create traffic jams at ports on the West
Coast, where workers are represented by a different union.
Railroads say they can ramp up to carry more freight from the West Coast, but analysts say they can’t move enough to make up for the closed Eastern ports.
“If the strikes go ahead, they will cause enormous delays across the supply chain, a ripple effect which will no doubt roll into 2025 and cause chaos across the industry,” noted Jay Dhokia, founder of supply chain management and logistics firm Pro3PL.
J.P. Morgan estimated that a strike that shuts down East and Gulf coast ports could cost the economy $3.8 billion to $4.5 billion per day, with some of that recovered over time after normal operations resume.
The strike comes just weeks before the presidential election and could become a factor if there are shortages. Retailers, auto parts suppliers and produce importers had hoped for a settlement or that President Joe Biden would intervene and
Fed Chair Powell signals measured pace for future interest rate cuts
By Christopher Rugaber Ap Economics Writer
WASHINGTON—Fed -
eral Reserve Chair
Jerome Powell signaled Monday that more interest rate cuts are in the pipeline but suggested they would occur at a measured pace intended to support a still-healthy economy. His comments, at a conference of the National Association for Business Economics in Nashville, Tennessee, disappointed the hopes of many investors that the Fed would implement another steep half-point reduction in its key rate before the end of the year. The Fed cut its rate by a larger-than-usual half point earlier this month as it has moved past its inflation fight and pivoted toward supporting the job market.
The broad S&P 500 stock index initially fell 0.6 percent after his remarks, but recovered afterwards to close about 0.4 percent higher.
“We’re looking at it as a process that will play out over some time,” Powell said during a question and answer session, referring to the Fed’s interest rate reductions, “not something that we need to go fast on. It’ll
depend on the data, the speed at which we actually go.” Economists are already pointing to Friday’s jobs report as a key piece of data that could alter the Fed’s policy path. If the unemployment rate rises noticeably or hiring stumbles, officials could consider a sharper rate cut later this year.
At their last meeting September 18, Fed officials reduced their rate to 4.8 percent, from a two-decade high of 5.3 percent, and penciled in two more quarter-point rate cuts in November and December. On Monday, Powell said that remains the most likely outcome.
“If the economy performs as expected, that would mean two more cuts this year,” both by a quarter-point, Powell said.
In prepared remarks, Powell said the US economy and hiring are largely healthy and emphasized that the Fed is “recalibrating” its key interest rate, as opposed to cutting rapidly as it would in an emergency. He also said the rate is headed “to a more neutral stance,” a level that doesn’t stimulate or hold back the economy. Fed officials have pegged the socalled “neutral rate” at about 3 percent, significantly below its
current level.
Powell emphasized that the Fed’s current goal is to support a largely healthy economy and job market, rather than rescue a struggling economy or prevent a recession.
“Overall, the economy is in solid shape,” Powell said in written remarks. “We intend to use our tools to keep it there.”
Inflation, according to the Fed’s preferred measure, fell to just 2.2 percent in August, the government reported Friday. Core inflation, which excludes the volatile food and energy categories and typically provides a better read on underlying price trends, ticked up slightly to 2.7 percent. The unemployment rate,
meanwhile, ticked down last month to 4.2 percent, from 4.3 percent, but is still nearly a full percentage point higher than the half-century low of 3.4 percent it reached last year. Hiring has slowed to an average of just 116,000 jobs a month in the past three month, about half its pace a year ago.
Over time, the Fed’s rate reductions should reduce borrowing costs for consumers and businesses, including lower rates for mortgages, auto loans, and credit cards.
“Our decision...reflects our growing confidence that, with an appropriate recalibration of our policy stance, strength in the labor market can be maintained in a context of moderate
economic growth and inflation moving sustainably down to 2 percent,” Powell said. Since the Fed’s rate cut, many policymakers have given speeches and interviews, with some clearly supporting further rapid cuts and others taking a more cautious approach.
Austan Goolsbee, president of the Fed’s Chicago branch, said that the Fed would likely implement “many more rate cuts over the next year.”
Yet Tom Barkin, president of the Richmond Fed, said in an interview with The Associated Press last week, said that he supported reducing the central bank’s key rate “somewhat” but wasn’t prepared to yet cut it all the way to a more neutral setting.
A big reason the Fed is reducing its rate is because hiring has slowed and unemployment has picked up, which threatens to slow the broader economy. The Fed is required by law to seek both stable prices and maximum employment, and Powell and other policymakers have underscored that they are shifting to a dual focus on jobs and inflation, after centering almost exclusively on fighting price increases for nearly three years.
end the strike using the Taft-Hartley Act, which allows him to seek an 80-day cooling off period.
But during an exchange with reporters on Sunday, Biden, who has worked to court union votes for Democrats, said “no” when asked if he planned to intervene in the potential work stoppage.
A White House official said Monday that at Biden’s direction, the administration has been in regular communication with the ILA and the alliance to keep the negotiations moving forward. The president directed Chief of Staff Jeff Zients and National Economic Council Director Lael Brainard to convene the alliance’s board members Monday afternoon and urge them to resolve the dispute fairly and quickly—in a way that accounts for the success of shipping companies in recent years and contributions of union workers.
contributed to this report.
Krisher in reported from Detroit. Associated Press journalists Ben Finley in Norfolk, Virginia, Mae Anderson and Wyatte Grantham-Philips in New York, DeeAnn Durbin in Detroit, Josh Boak in Washington, and Annie Mulligan in Houston
FEDERAL Reserve Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington on September 18, 2024. AP/BEN CURTIS
Preparing PHL exports for EUDR: Opportunities and challenges ahead
LEss than three months before the European Union Deforestation Regulation (EUDR) comes into effect, there has been a growing chorus of calls for a delay in its implementation in recent weeks. Approved in December 2022, the EUDR covers seven commodities—palm oil, cattle, soy, coffee, cocoa, timber and rubber, as well as derived products, such as beef, furniture, or chocolate. The European Commission said these commodities have been chosen on the basis of “a thorough impact assessment” identifying them as the main driver of deforestation due to agricultural expansion.
The seven commodities covered by the EUDR are not considered major exports of the Philippines. Despite this, we agree with the Philippine Exporters Confederation Inc. (Philexport) that the country’s exporters should not be complacent. The country must continue to make the necessary preparations to shield local industries from EUDR’s impact on global supply chains. (See, “Philexport: Let’s be ready despite mild EUDR impact,” in the BusinessMirror , September 30, 2024).
For one, the Philippines continues to import coffee and cocoa in huge quantities. As the start of the implementation of the EUDR draws near, Bloomberg reported recently that European traders have started to stockpile on coffee beans. The rush to build up their inventories ahead of the new trade rules could put pressure on the price of coffee, which has been rising in recent months.
And while the EUDR presents opportunities, it does not automatically mean that local exporters would be able to take full advantage of it. The Department of Trade and Industry (DTI) said coconut oil, one of the top agricultural exports of the Philippines, could benefit from the implementation of the regulation. However, increasing shipments to European countries would depend on a number of factors, including the ability of exporters to meet the volume and sanitary and phytosanitary requirements.
A paper published by the Philippine Coconut Authority in 2022 noted that the full development of the coconut industry is hampered by a number of factors. The study noted that apart from the sustained low production level and low product quality due to non-diligence to compliance to quality and food safety standards, the industry also has to grapple with a limited variety of value-added coconut products for marketing particularly at the village level. Other major problems contributing to the stagnation of the industry include the unorganized supply chain, fragmented efforts of the value chain actors both in the government and private sector, and compliance with quality standards and market requirements is not strictly observed.
Farmers and local businesses will not reap the benefits of regulatory changes like the EUDR under a business-as-usual scenario. The government and the private sector must align their efforts and work toward a common trade goal, particularly since the current administration wants to turn the Philippines into an export powerhouse by 2028. Unless all stakeholders, such as small and medium businesses and planters, are truly able to participate in global trade, expectations that certain developments in international trade will benefit the Philippines could remain mere wishful thinking.
Water management
MTHE BUILDER
ALACAñAnG’s pitch for better water management in the Philippines couldn’t be more timely after the recent floods in Metro Manila and other parts of the country.
President Ferdinand Marcos Jr. saw the urgency of the matter when he pushed last week for the reorganization of water management in the country, starting with the creation of a Department of Water Resources.
For a country blessed with abundant water resources, especially during the rainy season, better water management is imperative. We have seen how heavy rains led to flooding and displaced many Filipinos. The extended and recent heavy downpour inundated our urban centers and disrupted economic activities.
Reorganizing the entire water management process in the Phil-
US
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ippines, in my opinion, involves a whole-of-society approach, including the participation of local government units, the central government and communities.
Climate change is partly to be blamed for the recent flooding. As President Marcos conceded, the exigencies of climate change are prompting us to direct our efforts and attention to water.
Controlling floods begin with the elimination of garbage and trash that block our waterways. This is the clear message of President Marcos when he urged lawmakers to immediately approve the Waste-to-Energy Bill.
Reorganizing the entire water management process in the Philippines, in my opinion, involves a whole-of-society approach, including the participation of local government units, the central government and communities.
“We have to look at it in a more urgent sense because it really becomes such an important part of the flood control program,” says President Marcos during the 6th LegislativeExecutive Development Advisory Council (LEDAC) full meeting at Malacañang Palace last week.
Converting waste to energy will clean our canals, rivers and other waterways, and prevent floods in the process.
Building higher floodwalls and an aggressive reforestation will also mitigate flooding in Metro Manila and other flood-prone areas during typhoons and heavy monsoon rains.
The flood control system, however, may not be enough. The growing population in Metro Manila is overwhelming the designs of these floodmitigating structures. Garbage and
dockworkers strike set to go ahead after no deal
By Laura Curtis
DOCkwORkERs are set to walk out of every major port on the Us East and Gulf coasts, marking the beginning of a strike that could ripple through the world’s largest economy and cause political turmoil just weeks before the presidential election.
The affected ports have the combined capacity to handle as much as half of all US trade volumes, and the strike will halt container cargo and auto shipments. Energy supplies and bulk cargo like municipal waste and road salt won’t be affected. Some exceptions will be made to allow for the movement of military goods and cruise ships.
The significance of a work stoppage at every major container port from Houston to Miami and New York-New Jersey depends on how long the strike lasts. The economic loss from the shutdown, which was set to start at 12:01 Tuesday morning Eastern Standard Time, will be between $3.8 billion to $4.5 billion a day, according to JPMorgan Chase & Co. A backup resulting from a weeklong strike would take about a month to clear, according to Grace Zwemmer
at Oxford Economics.
The International Longshoremen’s Association is seeking higher wages and a rollback of the language on automation in six-year contract that expired at midnight. Union leader Harold Daggett has for months threatened a strike starting on October 1 if no deal is reached before the deadline. The last time East and Gulf coast dockworkers went on strike was in 1977.
The ocean carriers and terminal operators represented by the US Maritime Alliance, also known as USMX, have accused the ILA of refusing to negotiate since the union called off talks back in June. A strike was all but certain until Monday afternoon, when reports emerged that the White House has been in communication with the two sides over the weekend and some progress has been made on wages.
The affected ports have the combined capacity to handle as much as half of all US trade volumes, and the strike will halt container cargo and auto shipments. Energy supplies and bulk cargo like municipal waste and road salt won’t be affected. Some exceptions will be made to allow for the movement of military goods and cruise ships.
President Joe Biden, who prides himself on being pro-union, has said the dispute is a matter for collective bargaining and he wouldn’t invoke his authority under national security laws to order dockworkers back to the ports while negotiations continue.
trash end up in waterways, rendering water pumping stations ineffective. I also believe that we need more impounding projects to store water coming down from parts of the Sierra Madre range during the wet season. As I’ve written in this column before, these are not large-scale dams. These are the Small Water Impounding Project or SWIP, which the Department of Public Works and Highways (DPWH) used to head. Impounding projects at the foot of the mountain range, or the watersheds bordering Antipolo, San Mateo and Rodriguez towns in Rizal province, is strategic because they could prevent the swelling of rivers in Metro Manila during typhoons and heavy monsoon rains.
President Marcos has supported water impounding projects in the past. He has pushed for the establishment of a water retention infrastructure in Pampanga as a long-term solution to the perennial flooding problem in Central Luzon, especially in Pampanga and Bulacan. Water retention basins will help in the management of the flow of
See “Villar,” A13
ILA leader Daggett has warned the White House not to intervene, and said if forced back to the ports, dockworkers would handle fewer containers than usual, slowing operations.
The union hasn’t endorsed a presidential candidate, though according to Daggett, former President Donald Trump, “promised to support the ILA in its opposition to automated terminals” during a Mar-a-Lago meeting last fall. Neither Trump nor Vice President Kamala Harris has drawn public attention to the strike threat. Earlier on Monday, New York Governor Kathy Hochul urged people not to rush out to grocery stores to stockpile supplies as they did during the pandemic. “The food supply is secure right now,” she said. While there are supplies and consumer goods in warehouses, residents could start seeing depleted store shelves if there’s a prolonged stopSee “US,” A13
Trade, transportation and retail industry groups have been urging the White House to intervene to prevent or stop a strike. “It would be unconscionable to allow a contract dispute to inflict such a shock to our economy,” Suzanne Clark, CEO of the US Chamber of Commerce, wrote in a letter to Biden on Monday. “Taft-Hartley would provide time for both parties in negotiation to reach a deal on a new labor contract,” Clark continued, referring to the 1947 congressional act that allows a president to intervene in labor disputes that involved national security.
Ambassador Antonio L. Cabangon Chua
Mark Villar
Triple COPs–Biodiversity, Climate and Desertification
By Dr. Selva Ramachandran
IN an unprecedented convergence, the three major environmental Conference of the Parties (CoPs)—Biodiversity CoP16, Climate CoP29, and Desertification CoP16—are occurring in the last three months of 2024. this presents a unique opportunity to underscore the interconnectedness of the crises they address. Climate instability, biodiversity loss, land degradation, desertification and drought are not isolated issues; they are deeply intertwined facets of a single planetary crisis.
As we navigate the convergence of these COPs, it is critical to emphasize that success in addressing climate change, biodiversity loss, and land degradation is directly tied to our ability to get the SDGs back on track by 2030. The integrated solutions we promote through the Tri-COPs will be pivotal in advancing key Sustainable Development Goals (SDG).
Biodiversity
THE Biodiversity COP16 is the first one, taking place in Colombia in October.
The COP16 isn’t expected to break new ground, but is more a stock take of progress since the last summit secured historic assurances for biodiversity. In 2022 in Montreal, nations agreed to place 30 percent of the planet under environmental protection by 2030 in a landmark pact aimed at arresting biodiversity loss and restoring ecosystems to health.
Described as the “first implementation COP” since the adoption of the Global Biodiversity Framework (GBF) in December 2022, governments will review the progress made in implementing the GBF, the number of updated National Biodiversity Strategies and Action Plans (NBSAPs) and the alignment of national targets with the GBF.
Climate
T HE COP29 on Climate Change, which will take place in Azerbaijan in November, is a pivotal opportunity to accelerate action to tackle the climate crisis. With global temperatures hitting record highs, and extreme weather events affecting people around the globe, COP29 will bring together leaders from governments, business and civil society to find concrete solutions to the defining issue of our time.
While the last summit in Dubai in 2023 delivered a commitment to transition the world away from fossil fuels, a key focus of COP29 will be on finance as trillions of dollars are required for countries to drastically reduce greenhouse gas emissions and protect lives and livelihoods from the worsening impacts of climate change. Current financial flows for climate change mitigation need to increase at least three times if we are to limit global warming to 2°C or below and achieve the Paris Agreement targets. COP29 offers an opportunity to unlock more climate investments from a wider range of public and private sources and to improve the quality of this finance.
Desertification
THE Desertification COP16 is critical to raise global ambition and accelerate action on land and drought resilience through a people-centered approach.
continued from A12
water during heavy rains. We need to prevent the large volume of water draining down right away to the rivers and other waterways to prevent flooding.
Water management should also be sustainable to secure the food and water requirements of our population. Water retention or impounding dams in the long-term period will also reduce the expenses of the government in coping with disasters.
Destructive floods that follow heavy rains and clogged waterways are proofs that we are not effectively managing our water resources well. We could have stored and im-
Nato’s new chief prepares to take on Putin with Dutch pragmatism
JuStAs we navigate the convergence of these COPs, it is critical to emphasize that success in addressing climate change, biodiversity loss, and land degradation is directly tied to our ability to get the SDGs back on track by 2030.
Coinciding with the 30th anniversary of United Nations Convention to Combat Desertification (UNCCD), COP16 will be the largest UN land conference to date to be held in December in Saudi Arabia and the first time the Middle East and North Africa region, which recognizes firsthand the impacts of desertification, land degradation and drought. COP16 is poised to be a gamechanger, marking a renewed global commitment to accelerate investment and action to restore land, boost drought resilience for the benefit of people and planet. The main focus areas of COP16 include land restoration, drought resilience, land at the heart of the SDGs, and women’s land rights, among others.
Reflections
THE Tri-COP underscores the critical interconnectedness of climate, biodiversity, and land and ecosystem restoration. There will be no stable climate without a stable natural environment, nor a sustainable future without healthy land. Climate instability, biodiversity loss, and land degradation are interconnected crises, and so are the solutions. Protecting and restoring biodiversity, land and ecosystems enhances resilience, which in turn improves humanity’s ability to adapt to environmental change, more effectively manage its land, concurrently supporting climate mitigation and the reduction of greenhouse gases.
Land and ecosystem restoration, and effective land management will help slow global warming, reduce the risk, scale, frequency, and intensity of disasters and facilitate the recovery of critical biodiversity habitat and ecological connectivity to avoid extinctions and restore the unimpeded movement of species and the flow of natural processes that sustain life on Earth. Finance is critical to addressing the interconnected planetary crises of climate change, biodiversity loss and land degradation.
The Tri-COPs are not only about environmental sustainability but are crucial for meeting the 2030 Agenda. Human activities are the root of our descent toward chaos. Now is the time to transform humankind’s relationship with the natural world and with each other, and we must do so together.
Dr. Selva Ramachandran is the UNDP Philippines Resident Representative.
pounded the excess water during the wet season to partly secure the drinking water requirements of Metro Manila residents in the dry season, instead of allowing it to just empty into the Manila Bay. We should also remedy the thinning vegetation cover of Metro Manila and the towns bordering it. Reforestation is among the solutions to flooding. It leads to a sustainable environment and reclaims river plains that guard against flooding. An efficient water management system, in summary, will secure our future and serve as our legacy to the next generation.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar.com.ph
By Andrea Palasciano & Cagan Koc
a few years ago, North Atlantic treaty organization (Nato) was reeling after being slammed by Donald trump and dismissed as “brain dead” by French President Emmanuel Macron. Now, after it expanded to counter the threat from Russia, the challenge of keeping the Cold War alliance a geopolitical force is in the hands of Dutchman Mark Rutte.
Affable in public but meticulous behind the scenes, the former prime minister of the Netherlands becomes secretary general of the North Atlantic Treaty Organization on Tuesday as the 32-nation defense pact enters a pivotal period.
If Trump wins the US election in November, transatlantic support will be in doubt, posing an existential threat to the alliance set up in 1949. That would destabilize Europe’s security architecture with Russia’s war in Ukraine in its third year and Kyiv reliant on a steady stream of military and financial aid for its defense.
Rutte will also have to handle pressure from some members to devote more attention to counter-terrorism and reinforce Nato’s southern flank—while keeping defense spending high enough to maintain a credible deterrence, especially with budgets tight in countries like Germany.
It’s a far cry from 2014, when Rutte’s predecessor Jens Stoltenberg was warned by his father that he faced “boring years” running the Brussels-based organization.
Known for his people skills, Rutte—an HR-manager-turnedpolitician—has shown he can handle difficult situations, and after nearly 14 years running the Dutch government, he has a deep network to draw upon.
“He knows the EU and all its leaders by heart. And he has dealt with Trump,” said Camille Grand, an analyst at the European Council on Foreign Relations and a former senior Nato official. “Politically, he will hit the ground running.”
His reputation for being able to manage Trump could be particularly valuable. Before meeting the then-president for the first time in 2018, Rutte was determined to build a relationship with him but also stand his ground, so he prac-
ticed his handshake and studied Trump’s habits of putting people on the spot, according to a person familiar with the matter.
The former Dutch leader subsequently managed to avoid public humiliation and appeared to maintain a good working relationship with Trump, unlike many other European leaders. The secret was careful planning and preparation, said people close to the matter, who asked not to be identified discussing private discussions.
One encounter stands out. During a testy summit in 2018 when Trump threatened to leave Nato unless European countries boosted military spending, Rutte managed to ease tensions by claiming that European allies were indeed stepping up and that was because of Trump. While the reality was at best debatable, the gambit changed the mood and allowed the US president to walk away vindicated.
Since then, Rutte hasn’t abandoned that line, saying in a Bloomberg TV interview in January that Trump was right to complain about Europe’s shortfall in defense spending. When asked about a potential second term for Trump, he added that “we have to dance with whoever is on the dance floor.”
He was similarly matter of fact at the Munich Security Conference earlier this year, when he urged Europeans to “stop moaning and whining” about a Trump comeback. His standing with Trump though could change, especially since Rutte owes his position largely to Joe Biden. Trump’s adversary pleaded with the Dutchman more than once to take the Nato helm. One approach was in 2022, which he turned down to stay in power in the Netherlands. But then his coalition collapsed a year later, opening the door for another push.
Ukraine may be a more dif -
Known for his people skills, Rutte—an HR-manager-turnedpolitician—has shown he can handle difficult situations, and after nearly 14 years running the Dutch government, he has a deep network to draw upon.
ficult point of contention. While Trump has been openly critical of aid for Ukraine, Rutte is a staunch supporter. That stance stems in part from his emotional response to the downing of Malaysia Airlines Flight 17 in 2014, which killed nearly 200 Dutch citizens and has been blamed on Russia.
“There has never been anything bigger and this will always remain number one by far in the 14 years that I have been doing this job,” he told a Dutch radio show earlier this year.
Despite that conviction, the Netherlands hasn’t provided as much aid as some other European peers— ranking ninth in terms of support for Kyiv as a percentage of the national economy. The Netherlands also only crossed the Nato threshold of spending at least 2 percent of GDP on defense this year. Part of that is due to the complexities in his fragmented coalition. Despite being hemmed in domestically, Rutte has still been a key figure on the international stage. He was instrumental in convincing the US of the need to send F-16s to bolster the Ukrainian defense. The Netherlands itself plans to transfer 24 of the jet fighters to Kyiv, as well as making 18 available for training.
A gifted piano player, he initially wanted to pursue a musical career, but ended up graduating in history and joining the human resources department of consumer goods company Unilever. He then entered politics full time after an active role in the youth organization of the center-right VVD—known as the Dutch liberals.
His survival skills were tested often during his tenure. In January 2021, his third cabinet collapsed over a scandal involving Dutch childcare benefits. Tax authorities made false allegations of fraud with the fallout tipping thousands of
Dutch families into poverty.
He managed to bounce back, securing a new term in office in a snap election in 2021. But last year, his fourth cabinet collapsed amid infighting over migration policy, prompting Rutte’s decision to leave national politics.
During his long tenure leading the Netherlands, he gained popularity by embodying Dutch pragmatism and frugality, and dismissing the trappings of high office.
Known for biking or driving a second-hand Saab in The Hague, he was known for paying for his own coffee and not requesting reimbursement for costs incurred on duty. He also taught at a secondary school in his hometown throughout his premiership, famously showing up for his weekly social studies class even after his cabinet collapsed in 2023. That demeanor has carried over to Nato, where he’s refused the usual security services granted to secretary generals, people familiar with the matter said.
The Nato job wasn’t his first choice after leaving Dutch politics. He had initially set his sights on leading the European Commission but had to relent after it became clear that Ursula von der Leyen was set for a second term. But even then, the Nato role wasn’t guaranteed. Romanian President Klaus Iohannis was also in the running and backed by eastern Europeans, who were initially reluctant to support Rutte because of concerns over an imbalance in the alliance. He will need to be careful to navigate those sensibilities. During Stoltenberg’s 10-year term, former neutral countries Finland and Sweden joined after the invasion of Ukraine following Montenegro and North Macedonia as new members. There’s also more spending on defense by allies and access to 500,000 combat-ready soldiers. That provides a solid starting point for Rutte to navigate the risks ahead.
“The last 10 years have seen a fundamental transformation at Nato,” said Oana Lungescu, an analyst at the London-based thinktank RUSI and a former NATO spokesperson. “It has the most robust defense plans since the Cold War.” Bloomberg
South Korea’s export growth stays strong on chip demand
By Sam Kim
South Korea’s export momentum stayed robust in September on the back of continued demand for semiconductors, keeping the outlook upbeat for economic growth and offering positive signs for global commerce and the tech cycle.
Exports adjusted for workingday differences gained 12.9 percent from a year earlier, just a tad shy of the previous month’s double-digit gain, data from the customs office showed Tuesday. Headline exports rose at a slower pace of 7.5 percent while imports increased 2.2 percent, widening the trade surplus to $6.7 billion.
South Korea serves as a barometer of global trade as one of the world’s largest exporters of technology products, including memory chips that are incorporated in products ranging from laptops to smartphones. The latest figures suggest external demand remains strong.
“Semiconductors are still the leading driver of exports and the strong numbers so far this year have also been amplified by a comparison with the deep slump last year,” said Cho Chuel, an analyst at the Korea Institute for Industrial Economics & Trade. “Given the chip recovery began late last year,
the strength may start to taper off, even though it’s unlikely to turn negative anytime soon.”
The gains in exports this year have already prompted the central bank and government to raise their annual growth forecasts. Still, with inflation back at 2 percent, the Bank of Korea is expected to start cutting interest rates in the near-future.
The latest export figures may provide the central bank with a reason to wait longer before pivoting on policy, but many economists expect a rate cut next week. They see the BOK focusing more on weakness in domestic consumption and forecast a rate move if officials have sufficient confidence that household borrowing is easing.
In another sign that tech demand is continuing to fuel Korea’s exports, a separate statement showed semiconductor shipments rose 37.1 percent from a year earlier in September, for its 11th monthly increase. The result was
only slightly weaker than August’s gain of 38.8 percent. The value of computer shipments jumped 132 percent and exports of wireless communications devices rose 19 percent, ministry data showed.
“South Korea’s exports held up well in September, suggesting external demand will continue to support the economy in the coming quarters,” said Bloomberg economist Hyosung Kwon.
Sustained demand for memory chips used in artificial intelligence development has been a key driver of the nation’s economic momentum this year. Samsung Electronics Co. and SK Hynix Inc. are vying for greater shares of orders from Nvidia, a US chipmaker at the vanguard of the AI chip industry.
Tuesday’s data show that Korea continues to benefit from a global recovery. Automobile exports rose 4.9 percent from a year earlier while the sales of ships surged 76.2 percent, according to trade ministry data.
The US has been a steady source of demand for South Korea’s products, while conditions in China have been choppier this year as the economy continues to limp along due to a property market slump.
Authorities in Beijing unveiled an unusually broad array of eco -
down operations ahead of the midnight deadline, and railroads are also pulling back service. “The most important thing is going to be for the carriers, shippers and workers to come to terms,”
nomic stimulus steps last month, and South Korea stands to benefit if the measures prove effective in reviving growth.
“Given the relationship with China has become more competitive, stimulus may have limited impact on South Korea’s exports,” Cho said.
Exports to China grew 6.3 percent from a year earlier in September on the back of demand for chips and mobile devices, the trade ministry said. Meanwhile, shipments to the US increased 3.4 percent and those to the European Union rose 5.1 percent. The outlook for demand from the US is a key area of interest for South Korea with growing economic and investment exchanges between the two countries. Having switched to an easing cycle with an outsized rate cut last month, the Federal Reserve is attempting to engineer a soft landing for the US economy.
Looming strikes across many of North America’s ports are among factors clouding prospects for commerce. Bloomberg’s Trade Tracker showed two out of 10 key measures of global commerce in “below normal” territory, while eight were in the normal zone. Bloomberg
said Transportation Secretary Pete Buttigieg on Bloomberg Television’s “Balance of Power.”
Villar . . .
Wednesday, October 2, 2024
Mix of prominent, ordinary people at 1st COC filing day
By Justine Xyrah Garcia
THE filing of certificates of candidacy (COC) and of nomination and acceptance (Cona) for the upcoming 2025 national and local elections kicked off on Tuesday with a mix of prominent figures and ordinary citizens declaring their intent to run. AGRI party-list Representative
Wilbert Lee was the first aspirant to file his COC at the Manila Hotel’s Tent City.
Lee, who is now vying for a senatorial seat, seeks to push for free healthcare for all—which he believes is more attainable once he is in the senate.
Earlier this year, Lee was declared the top Philippine public official spendor on Facebook advertisements.
Asked by the media about his spending, Lee said he has to maximize his social media presence so more people will know about the healthcare assistance he is offering.
“Itong ginagastos ko ay for awareness. Para malaman at mapalapit sa mga kababayan ang medical assistance na isinusulong ko,” he told reporters.
The incumbent House representative added that he does not know the exact amount that he spent, but will be willing to divulge if necessary.
Meanwhile, in terms of party-list groups, the Kabalikat ng Mamamayan (Kabayan) party-list is the first to file their intent for a House seat.
According to House Rep. Ron Salo, a principal author of the Magna Carta of Seafarers, Kabayan intends to continue the people-oriented policies it has been pushing since it won in the 15th Congress.
Prominent political figures like Senate Majority Leader Francis Tolentino, former Manila mayor and later Buhay party-list representative Jose “Lito” Atienza, former House Rep. Neri Colmenares, and current PDP Laban executive director Astra Pimentel also filed their candidacy for next year’s polls.
Tolentino is seeking re-election while Atienza, Colmenares and Pimentel are gunning for party seats as they run for the Buhay Hayaan Yumabong (Buhay), Bayan Muna, and Ang Bumbero ng Bayan party-lists, respectively.
The other side ASIDE from the familiar faces, some lesser-known individuals also filed their intent to run for Senate.
This includes David Chan (independent); Janice Padilla (independent); Jose Olivar (independent); Felipe Montealto (independent); Najar Salih (Partido Pederal ng Maharlika); Joseph Dee (independent); and Sunang Ditanongun (independent).
Lawyer-doctor Jose Montemayor (Partido Pederal ng Maharlika) is also vying for a senatorial seat after his failed bid for president in 2022.
Meanwhile, aspirants like Alexander Encarnacion (independent); Daniel Magtira (independent); Happy Lubarbio (independent); Norman Marquez (independent); Phil delos Reyes (independent); Miguel Caturan (independent) are once again trying their lucks after being declared by the Commission on Elections nuisance candidates in past elections.
“ Aanhin po natin yung mga mayayaman na tumatakbo, sila nang sila lang, at pag naka upo na, bulag, pipi, at bingi na…Bigyan po sana ng karapatan ang mga gaya ko
na makapagsilbi sa bayan ,” delos Reyes, who is a security guard, said.
Magtira, who also announced his intent to marry Sen. Imee Marcos, urged voters to also consider aspirants who are not as famous as the other candidates.
“Sana ang mga botante ay magkaroon ng pag-iisip sa pagboto,” he said.
Party-lists
ASIDE from Kabayan, Buhay, Bayan Muna, and Ang Bumbero partylists, nine more party-lists also filed their COC and Cona on Monday.
This includes party-lists like Manila Teachers, Liga ng Nagkakaisang Mahihirap (Lingap), Agricultural Sector Alliance of the Philippines (Agap), AkayY ni Sol, Cooperative NATCCO, Kamanggagawa, Magsasaka, Anti-Crime and Terrorism Community Involvement and Support, Coalition of Association of Senior Citizens in the Philippines (Inc.) and Dignidad sa Bawat Manggagawa (DIWA).
As of this writing, a total of 17 senatorial and 15 party-list representative aspirants have filed their intent to run for office in the 2025 midterm elections.
THE government must prioritize indigenous energy sources to ensure a continuous and stable supply in the country, energy expert Pete Maniego Jr., a senior policy advisor of the Institute for Climate and Sustainable Cities (ICSC), said Tuesday.
“Government should of course promote indigenous sources for energy security and independence,” the former chairman of the National Renewable Energy Board (NREB) said in a Viber message on Tuesday.
Indigenous sources include geothermal, natural gas, hydro, and other renewable energy sources while coal, which the country is heavily reliant on, oil and even LNG (liquefied natural gas) are mostly imported.
Senator Pilar Juliana “Pia” Cayetano, chairperson of the Senate Committee on Energy has strongly recommended prioritizing indigenous gas over imported LNG because it is cheaper.
“Let’s take a stand. Prioritize indigenous [natural gas]. Support indigenous. And buy indigenous,” said Cayetano, the sponsor of Senate Bill 2793 or the Philippine Natural Gas Industry Development Act.
Citing August data from the
natural gas market, Cayetano said the Malampaya gas costs 12.8 per million British thermal unit (MMBtu) while LNG costs $15.3 per MMBtu, inclusive of all regasification and other costs to generate power.
Senator Sherwin Gatchalian cited industry sources last week that LNG costs only $10.5 per MMBtu.
Cayetano said the proposed legislation will ensure that the country will not be dependent on foreign fuel, particularly when unpredictable events occur in the global market. The senator was referring to the unreliability of the supply of imported LNG as a result of conflicts like the Russian-Ukraine war, and even adverse weather conditions such as when coal plants suffer downtimes during heat waves and imported LNG vessels get unberthed during typhoons. She said the proposed law is key to revitalizing indigenous gas exploration, which has been nearly abandoned because of the absence of clearcut policies.
Meanwhile, First Gen Corporation said its gas plants could be upgraded to utilize hydrogen.
See “ICSC,” A2
Editor: Jennifer A. Ng
Golden MV to acquire firms owned, controlled by Villar
By VG Cabuag @villygc
Villar-led Golden MV Holdings inc. said its board approved the acquisition of three companies from those owned and controlled by businessman Manuel B. Villar Jr., in a transaction valued at about P5.19 billion.
The company said it will buy “a substantial amount” of the issued and outstanding capital stock of a lthorp l and Holdings Inc., Chalgrove Properties Inc. and l os Valores Corp. from Fine Properties Inc. and Hollinger Holdings Corp.
The three firms own a combined 396.88 hectares of prime land in the Villar City development.
“This strategic acquisition grants Golden MV access to 396.88 hectares of prime land in Villar City, a visionary development that spans 3,500 hectares across Metro Manila and portions of Cavite,” the company said.
ALC Group and PRC
Caloocan
tie up for blood donation drive
Golden MV said this acquisition reaffirms its commitment to becoming “a key player in shaping the future of this expansive and innovative development.”
While Golden MV focuses on the strategic development of Villar City, Vista l and and l ifescapes Inc. will continue to develop its own landbank, through Vista e state, across the country. Both entities will operate complementary development strategies, with each contributing to the Villar group’s overall vision for sustainable and inclusive urban development.
“The acquired companies will allow Golden MV to concentrate on the development of Villar City, a legacy project of Manuel B. Villar Jr.”
IMI: Job cuts to streamline operations
Ayala-led Integrated Micro- e lectronics Inc.
(IMI) on Tuesday said it made significant strides in its downsizing and global restructuring efforts as it struggles to make a profit.
The company said IMI US a will enter into a partnership with X l R8 Corp. a California-based firm renowned for its prototyping expertise.
Under this new agreement, IMI will channel prototyping needs of selected customers to X l R8, while X l R8 will transition mass production projects to IMI as its preferred manufacturing partner.
“Consequently, IMI US a will discontinue its prototyping and manufacturing operations by the end of 2024, with production functions to be transitioned to IMI facilities across North a merica, europe and a sia,” the company said.
IMI will also be closing its sales office in Japan and will soon initiate the process of the dissolution of the entity, in a move to better align support costs with current business needs.
Its extensive sales team, strategically positioned across various regions, will continue to address opportunities in Japan, eliminating the need for a physical office and reducing overhead costs.
There is also an ongoing downsizing of the Singapore and Malaysia office, the company said.
“These activities are part of IMI’s ongoing commitment to streamline operations and drive improved margins across its global footprint,” the company said.
IMI ranks among the top e MS providers in the world by the Manufacturing Market Insider, based on 2023 revenues and remains among the top ten in the automotive sector according to New Venture Research. VG Cabuag
The group recently announced that the group will construct of two golf courses, a church, an events arena, a university, and an integrated entertainment complex in Villar City, which spans across 15 cities and municipalities.
l aunched in a ugust last year, the massive integrated development is envisioned to become a thriving community where economic, lifestyle, cultural and leisure activities will converge.
Rising amid 10 million trees, 100 cafes and verdant pocket parks, the community will feature modern districts including a central business district, a Tech Valley, university town and a premier lifestyle hub, along with leisure
and recreational facilities meant to nurture health and well-being.
“We carefully selected the different components that will be included in Villar City to ensure that future residents and workers will get to live in a safe and healthy, yet modern and complete environment, where they can be near nature, have access to lush open spaces, walk around the community freely, while still enjoying top tier facilities, leisure hubs and other recreational options, all in an interconnected area,” Villar said.
TH e al C Group of Companies joined forces with the Philippine Red Cross (PRC) Caloocan City Chapter to host a successful blood donation drive on September 27, 2024, at its office in Makati City.
This noble initiative, which the alC Group has been championing for years, aimed to support the critical need for blood donations and reinforce the company’s commitment to
corporate social responsibility. employees from various member companies of the alC Group participated in the drive, showcasing their commitment to helping those in need. Their voluntary donations contribute to the essential blood supply in hospitals and health facilities, making a significant impact on the community.
Continued on B2
Photo shows (from left to right) Philippine Red Cross (PRC) Caloocan City representative Irene Lapitan, Volunteer Physician Patricia Mikchaela Feliciano, MD, and ALC Group of Companies officers: o perations Executive Dannica Nicole A. Cabangon, Central human Resources Department (ChRD) head Carisa Angela De Mesa, ChRD Jr. Supervisor John Paul Estrella, and ChRD Psychometrician Alex Alcantara Jr.
THE country’s net international investment position (IIP) indicated a net liability position in the period ending June 2024, according to the Bangko Sentral ng Pilipinas (BSP).
The latest data showed the country’s net IIP declined 6.5 percent to $55.2 billion at the end of June from the $59.1 billion recorded in end-March 2024. BSP explained that the IIP is a statistical statement that shows at a point in time the value of financial assets of residents of an economy that are claims on non-residents or are gold bullion held as reserve assets and the liabilities of residents of an economy to non-residents.
“This development was driven by the 1.7 percent contraction in the country’s external financial liabilities, which outpaced the 0.5 percent decline in external financial assets,” BSP said. The BSP data showed that the country’s total stock of external financial liabilities decreased by 1.7 percent as of end-June 2024. The central bank said this was due to the 11.3 percent decline in net foreign portfolio investments (FPI) in the form of equity securities to $34.8 billion. There was also a 6.5 percent decline in net foreign direct investment (FDI) in the form of equity capital to $58.2 billion in the end of June 2024 from $62.2 billion at the end of March this year.
The data also showed there was also a 0.5 percent contraction in the total stock of external financial assets. This was due in part to the 6.2 percent decline in the outstanding value of residents’ net portfolio investments in foreign debt securities to $31.4 billion. Other factors include the 1.7 contraction to $41.9 billion of net direct investments in debt instruments and 3.1 percent decline to $14.4 billion in residents’ net placements of foreign currency and deposits in foreign banks at the end of June 2024. The BSP said these declines offset the 19.5 percent year-on-year growth in the country’s net external liability position in June 2024. This growth was on account of the 6.4 percent growth in total external financial liabilities from $280.7 billion, notwithstanding the 3.8 percent growth in total external financial assets from $234.5 billion. The data also showed that total external financial liabilities grew by 6.4 percent year-on-year stemming from the collective increases in the nonresidents’ net outstanding loans extended to residents by 16.1 percent to $75.2 billion from $64.7 billion. There was also a 10.9 percent growth in nonresidents’ net outstanding direct investments in debt instruments to $65.4 billion from $59 billion and 11.2 percent increase in nonresidents’ net outstanding investment in portfolio debt securities to $53.2 billion from $47.8 billion.
Meanwhile, the 3.8 percent annual growth to $105.2 billion fin total external financial assets was mainly on account of the country’s accumulation of reserve assets.
“The rise in reserves year-on-year reflects the national government’s (NG) net foreign currency deposits with the BSP; BSP’s net income from its investments abroad; upward adjustments in the BSP’s gold holdings and foreign currency-denominated reserve assets, excluding gold; and BSP’s net foreign exchange operations,” the BSP explained.
The other factors that contributed to the expansion in total external financial assets were the growth in residents’ net investments with foreign affiliates in the form of equity capital placements by 8.1 percent to $30.6 billion from US$28.3 billion and intercompany borrowings by 3.1 percent to $41.9 billion from $40.7 billion.
The BSP also said it continued to hold 45 percent or the largest share of the country’s total external financial assets valued at $109.7 billion as of end-June. This represented a growth of a percent from the central bank’s end-March 2024 level of $108.6 billion.
“Other Sectors” accounted for 41 percent of the country’s outstanding external financial assets at $99.7 billion while banks accounted for the remaining 14 percent of the country’s total external financial assets, amounting to $34.1 billion. Cai U. Ordinario
Govt, firms economy’s net debtors in Q1
By Cai U. Ordinario @caiordinario
THE country’s net external liability position widened in the first quarter of the year as the liabilities of the government and non-financial corporations (NFCs) increased during the period, according to the Bangko Sentral ng Pilipinas (BSP).
Data from the BSP showed the net external liability position widened by 33.3 percent to P3.01 trillion in the first quarter 2024 from the P2.26 trillion posted in the same period last year.
The country’s net external liability also posted a double-digit increase of 17.1 percent compared to the P2.57 trillion recorded in the last quarter of 2023.
“The GG (general government) and the NFCs continued to be net debtors of the domestic economy (DE). Meanwhile, the households (HHs), the other depository corporations (ODCs), the Central Bank (CB), and the other financial corporations (OFCs) remained net creditors,” BSP said.
The BSP said GG’s net financial li-
ability position grew 17.1 percent to P9.86 trillion in the first quarter of 2024 compared to the P8.41 trillion posted in the same period last year.
On a quarter on quarter basis, GG’s net financial liability position widened by 1.6 percent from the P9.71 trillion posted in the last quarter of last year.
“This ensued as non-residents provided additional financing to the general government in the form of loans and debt securities, while the other depository corporations and the other financial corporations expanded their holdings of government securities. However, these developments were moderated by the rise in the general government’s deposits with the central bank,” BSP explained.
“On an annual basis, the sector’s
net financial liability position rose as the government security holdings of the other depository corporations, the rest of the world, and the other financial corporations increased. Similarly, the sector’s loans payable to non-residents grew,” it also said.
Meanwhile, NFC’s net financial liability position widened by 12.5 percent to P9.54 trillion in the first quarter of the year compared to the P8.48 trillion posted in the first quarter of last year. The BSP said NFC’s net financial liabilities expanded due to the sector’s loans payable and equity and investment fund shares issued to the non-residents increased.
The BSP’s data also showed NFCs posting a 4.9 percent quarter-onquarter increase in net financial financial liability from the P9.09 trillion posted in the fourth quarter of 2023.
The quarterly performance, BSP said, was due to the rise in external financing in the form of equity and investment fund shares and loans payable to non-residents as well as the declinin non-financial corporations’ bank deposits.
“The non-financial corporations’ loans payable to the other depository corporations grew, while the nonfinancial corporation-issued equity and investment fund share holdings of the other financial corporations expanded (on a year on year basis),” BSP said.
Meanwhile, households’ net fi-
Catching up with the Vietnamese economic miracle
HANOI, Vietnam–This metropolis of almost 20 million people is the political and cultural capital of the Socialist Republic of Vietnam. Created by law in 2008, the Hanoi Metropolitan Area consists of nine provinces that surround the capital city of Hanoi in the northern Vietnamese region. The core city itself is bordered by the Red River and the Black River, from which Hanoi derives its name that literally means “inside the river.”
Emperor Ly Thai To established Hanoi as the capital of the imperial Vietnamese nation known as Dai Viet in the year 1010 AD. During my first visit here in 2010, the city was observing its 1,000th foundation year with the inauguration of major commemorative projects as part of its millennial anniversary celebration.
From 1902 to 1945, Hanoi was the capital of French Indochina encompassing France’s colonies in Southeast Asia such as Vietnam, Cambodia, Laos, and the Chinese city of Zhanjiang in present-day Guangdong province. Vestiges of its French colonial past can still be seen in Hanoi’s Old Quarter, the historical urban core bordering Hoan Kiem Lake that serves as the city’s central business district (CBD).
The West of Hanoi is the city’s new CBD that is home to the Vietnam National Convention Center, Museum of Ethnology, Keangnam Landmark Tower, Indochina Plaza, Lotte Center, Takashimaya’s The Loop shopping mall, and numerous technology firms. It also houses the current terminus of Vietnam Railways’ Hanoi Metro train line that started operations last month.
By Reine Juvierre Alberto @reine_alberto
THE Bureau of the Treasury (BTr) raised P15 billion through the issuance of Treasury bonds (T-bonds) as yields fell amid strong investor demand. On Tuesday, the auction committee fully awarded the reissued 7-year T-bonds with an average yield of 5.508 percent, lower than the original coupon rate of 6.500 percent. Bids for the long-term debt pa-
Finex Free enterprise
Since 2020, Vietnam has overtaken the Philippines in terms of gross domestic product (GDP) per capita. The total Vietnamese population of 100.9 million is lower than the 119.1 million Filipinos as of mid-2024; but its real GDP has already surpassed ours starting 2022.
Despite a series of political resignations over the past three years that involved several Vietnamese presidents and prime ministers, the country’s economy has remained stable. Its two securities trading centers in Hanoi and Ho Chi Minh City recently merged into the Vietnam Stock Exchange.
Vietnam’s economic boom is exemplified by the rapid growth of the Vingroup Joint Stock Co., a private conglomerate headquartered in Hanoi. Founded as a food company in 1993 by Vietnamese entrepreneur Pham Nhat Vuong (now Vietnam’s richest man), Vingroup has expanded into the property development and retail industries as well as in the health care and education sectors. Its latest foray is in automobile manufacturing through subsidiary VinFast Auto Ltd. based in Haiphong City, which introduced the first Vietnamese car brand in 2017. It is now churning out sedans and SUVs designed by Pininfarina of Italy. With its recent expansion into electric vehicles, VinFast has
pers, with a remaining term of four years and seven months, reached P86.380 billion. The auction was 5.8 times oversubscribed, according to the Treasury. The average auction yield was also lower than both its previous reissuance and the prevailing secondary market rate. In the 7-year T-bonds auction on September 10, the average auction yield was at 6.058 percent. Compared to the PHP Bloomberg Valuation Service Reference Rates
nancial asset position grew 12.6 percent to P13.78 trillion in the first quarter 2024 from the P12.24 trillion posted in the same period last year.
On a quarterly basis, the growth recorded was 2.6 percent from P13.43 trillion in the last quarter of 2023. BSP said this was driven by the increase in the sector’s bank deposits as well as household’s holdings of equity and investment fund shares, as well as insurance, pension, and standardized guarantee schemes issued by the other financial corporations increased.
On an annual basis, BSP explained that households’ net financial asset position increased due to the sector’s higher bank deposits and increased investments in equity and investment fund shares and insurance, pension and standardized guarantee schemes issued by the other financial corporations.
The BSP data also showed that other depository corporations’ net financial asset position decreased 18.7 percent to to P1.4 trillion in the January to March period this year from the P1.72 trillion posted in the same period last year.
On a quarterly basis, ODC’s net financial asset position also contracted 21.3 percent from the P1.8 trillion recorded in the October to December period last year due to the higher savings and time deposit placements by the households in the banking system.
been named by the Time magazine among the world’s 100 most influential companies in 2024.
Another Vingroup subsidiary, Vinhomes, is considered the biggest commercial real estate developer in Vietnam. It was spun off in 2018 and had an initial public offering shortly after, becoming Vietnam’s second-largest publicly-traded company next only to its parent firm Vingroup.
Vinhomes has property developments in 40 cities across Vietnam and owns 16,000 hectares of land nationwide. Two of its minority shareholders are the Government of Singapore Private Ltd. and the KKR Viking Asia Holdings Fund. On a family trip last week to Halong Bay northeast of Hanoi, we passed by the luxurious Vinhomes Ocean Park township that looks like a massive version of Rockwell Center in Makati combined with Bonifacio Global City in Taguig.
Compared to the phenomenal growth of Vietnam in less than 50 years after the Fall of Saigon in 1975, the Philippines has fallen far behind. And to think that the Vietnamese people had to undergo two decades of civil war vis-à-vis our 13 years of martial law. Yet they were able to bounce back while we have not fully recovered. We will have to play catch-up in the next decades–otherwise the likes of Myanmar, Laos, and Cambodia would also overtake us if we don’t shape up soon.
Joseph Gamboa is the vice-chairman of the Ethics Committee of the Financial Executives Institute of the Philippines (Finex) and director of Noble Asia Industrial Corp. The views he expressed herein do not necessarily reflect the opinion of Finex and the BusinessMirror . #FinexPhils www.finex.org.ph.
(PHP BVAL) yield of 5.571 percent for the 5-year tenor, the T-bonds average rate is lower by 6.3 basis points (bps). Rates for the T-bonds ranged from a low of 5.500 percent to a high of 5.525 percent. Increased investments in government securities is
BSP said ODCs placements in reverse repurchase agreements with the Bangko Sentral ng Pilipinas declined. However, ODCs increased their investments in governmentissued debt securities, while deposits from the non-financial corporations declined.
“On a year-on-year perspective, the other depository corporations’ net financial asset position also declined driven mainly by the growth in deposits from the household sector. However, this was partly offset by the sector’s higher holdings of government- and BSP-issued debt securities and the sector’s increased loans receivable from the non-financial corporations,” BSP said. The data also showed the central bank’s net financial asset position expanded by 33.5 percent to P962.6 billion in the first three months of the year from the P721.3 million posted in the same period last year.
On a quarterly basis, the data showed the BSP’s net financial asset position grew 10.1 from P874.1 billion due mainly to the decline in reverse repurchase agreements owed to the banks and the decline in the household sector’s currency holdings.
The BSP said, however, that its external assets rose. On a year-onyear basis, the central bank’s net financial asset position widened as the country’s gross international reserves increased.
Ex-officials: Avoiding tax won’t solve fund paucity
THE firm stance by the Department of Finance (DOF) on not imposing new or higher taxes has made the government desperate to source more funds, sweeping those from the Philippine Health Insurance Corp. (PhilHealth), according to New York, United States-based GlobalSource Partners Inc. One of its country analysts, former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo joined ex-cabinet secretaries and former high-ranking officials in the list of oppositionists in the transfer of P89.9 billion in excess funds of PhilHealth to the Bureau of the Treasury (BTr).
Guinigundo, former National AntiPoverty Commission Secretary Joel M. Rocamora, former Commission on Higher Education Chairman Patricia Licuanan, former Presidential Adviser on the Peace Process Teresita Quintos Deles and former PhilHealth President and CEO Alexander Padilla were among those who opposed the fund transfer.
The “sweeping” of the funds is contained in a DOF circular mandating the PhilHealth and the Philippine Deposit Insurance Corp. (PDIC) to remit P89.9 billion and P110 billion, respectively, to the Treasury this year to finance the P203.1-billion expenditures under unprogrammed appropriations (UA) in the 2024 General Appropriations Act (GAA).
The UA has no cash cover and can only be executed when revenue collections exceed targets, new revenue collections from new tax or non-tax sources, approved loans for foreign-assisted projects and excess funds of state-run corporations.
“By all measures, this policy seriously jeopardizes the mandate to promote universal healthcare,” read a joint statement issued last Monday by former officials of the Government of the Republic of the Philippines. (See https://
Earlier, the DOF said if the fund balances of PhilHealth and PDIC were not tapped, the government would have to inflict additional taxes, which would affect everyone. The state would also incur more debt had the funds not been transferred.
To generate additional revenues without new taxes, the DOF also hiked the mandated dividend remittance rate of state-run corporations to at least 75 percent of their net earnings from a minimum of 50 percent.
Aside from PhilHealth, Guinigundo underscored that the policy of tapping the funds of government-owned and -controlled corporations (GOCCS) is a “one-size-fits-all approach that disregards the unique characteristics of GOCCs.”
The Government Service Insurance System and the Home Development Mutual Fund (Pag-Ibig), as such, are exempted from remitting dividends.
“Such special provision in the GAA allows additional resources to be taken from the GOCCs in excess of what their charters authorize,” Guinigundo explained.
While the PDIC’s charter states it must preserve, maintain and build up its insurance fund, it must also remit dividends to the national government.
“This brings to question the intent of the GAA’s special provision, whether it is intended to extract more resources beyond what the PDIC charter allows,” Tuesday’s published joint statement read.
The former officials also demanded transparency from the DOF and the PDIC to disclose to the public the kind of resources or income that was remitted to the government. Reine Juvierre Alberto
Joseph Araneta Gamboa
Leaders as information managers
IN today’s fast-paced, knowledge-driven work environments, the role of a people manager has expanded beyond traditional boundaries of performance reviews and project supervision. One critical and often overlooked responsibility is that of an information manager—ensuring that the right information flows through the team to help them make informed decisions, and fostering an environment of transparency and collaboration.
In most organizations today, data and information are key assets. Whether it is industry insights, project updates, technical knowledge, or cross-departmental communication, the ability to effectively manage and utilize information is a determining factor for a team’s success. For teams to remain responsive and adaptable, people managers must ensure their team members have access to the right data at the right time. When people managers step into the role of information managers, they not only contribute to productivity but also build a culture of trust, openness, and informed decision-making.
One of the primary responsibilities of a leader as an information manager is curating relevant information for their team. With the volume of data circulating within organizations, it is easy for team members to feel overwhelmed by what information to gather and from where. Managers must sift through the noise and provide team members with the most relevant information, whether it is company announcements, industry trends, or new tools and resources. This also means ensuring that the shared information aligns with the team’s goals, eliminating distractions and unnecessary information overload. As an information curator, the people manager becomes a filter, providing clarity and focus amid the incessant flow of data.
It is not enough for managers to simply have access to information; they must also ensure it reaches the right people. A great manager excels in distributing information effectively, ensuring that it is delivered in a timely manner to the appropriate recipients, and through the right channels. Whether it is delegating tasks based on new insights or updating the team on changes in project scope, the distribution of information needs to be both strategic and seamless. In hybrid teams, where information can easily get lost in digital communication threads, the role of information distributor is even more critical.
Managers must be proficient in leveraging digital tools and communication platforms to keep everyone aligned and informed. Information hoarding, where valuable insights and data are kept by a few, can stifle a team’s potential. Managers should create systems and processes that encourage the free flow of information across all team members. Facilitating regular meetings, establishing shared knowledge bases, and promoting open forums for discussion are all part of managing team information effectively. Encouraging peer-to-peer learning, mentoring, and collaborative brainstorming also contributes to a dynamic team environment where information is continuously exchanged, leading to better problem-solving and innovation. Transparency is fundamental to building trust within a team. As information managers, people managers must be transparent about decisions, goals and feedback. Keeping the team in the dark on key information can lead to misunderstandings, disengagement, and a lack of ownership over projects. This does not mean oversharing or releasing sensitive information irresponsibly. Instead, managers should provide context when necessary, give clear reasons for decisions, and maintain an open-door policy for questions and concerns. When transparency is embedded in team culture, it encourages a sense of shared purpose and mutual accountability.
Managers today are increasingly expected to make decisions based on data rather than intuition. In their role as information managers, they need to not only gather and synthesize information but also to analyze
ON September 27, the signing ceremony of a Memorandum of Cooperation (MOC) among the Japan International Cooperation Agency (Jica), Korea International Cooperation Agency (Koica) and United States Agency for International Development (USAID) to Advance Primary Health Care toward Universal Health Care (UHC) in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), Philippines, was held in Metro Manila.
Ambassador Endo Kazuya witnessed the signing together with US Ambassador Marykay Loss Carlson, Embassy of Korea in the Philippines Minister Sang Seung-Man and Koica vice president Kim Dong Ho. Also in attendance were Health Secretary Teodoro J. Herbosa and BARMM Minister of Health Dr. Kadil M. Sinolingding Jr. The MOC was signed by Jica Philippines
and interpret it to guide strategic choices. Whether it is setting performance measures, assessing project risks, or allocating resources, data-informed decisionmaking leads to more reliable outcomes. A good people manager will also encourage their team to adopt a data-driven mindset, providing tools and training to help them analyze information critically and use it to enhance their own performance. In times of uncertainty or crisis, information becomes even more crucial. Managers must act swiftly to gather accurate information, assess its implications, and communicate clearly with the team. Whether it is a trend, an organizational restructuring, or a sudden project obstacle, how managers handle information during crises will determine how well the team adapts and overcomes challenges. In this role, managers need to be both calm under pressure and deliberate in ensuring that the team receives information that is not only timely but also actionable so that panic or misinformation does not spread.
The role of a people manager is increasingly intertwined with the ability to manage information effectively. By acting as curators, distributors, facilitators, guardians of transparency, and decisionmakers, people managers ensure that their teams are well-informed and equipped to succeed. A good people manager should not be just a mere supervisor but become the knowledge and information checkpoint of their team. This is not just a matter of aligning the team, but about leveraging information as an asset to drive performance, innovation, and growth. ■
chief representative Sakamoto Takema, Koica Philippines country director Kim Eunsub, and USAID Philippines mission director Ryan Washburn.
Ambassador Endo, in his keynote speech, highlighted the importance of the collaboration among these three countries to promote a more resilient and efficient regional healthcare system accessible to the community and vulnerable groups within BARMM. urthermore, Ambassador Endo mentioned that Japan will focus on strengthening maternal and newborn health services, as well as pursue improved nutrition for the region. These goals are aligned with Japan’s long commitment to human security and peace-making efforts within BARMM, and promotes Japan’s “Women, Peace and Security” agenda.
TAURUS
finishing what you start and saving for the future. ★★★★★
CANCER (June 21-July 22): You’ll do best working toward and tidying up loose ends. Someone will interfere with your progress if given the chance. Don’t share information or allow anyone to interfere in your business or progress. Avoid run-ins with associates, friends and relatives. Choose peace over discord. ★★
LEO (July 23-Aug. 22): Pay attention to detail, how others respond and broadening your awareness of your pursuits. Facts are vital to decision-making and are best acknowledged before committing time, money or skills. Focus on personal gains, growth and better health while you sort out how you want to proceed with others. ★★★★
VIRGO (Aug. 23-Sept. 22): Lower overhead and reduce commitments. Assess your current needs and distribute your energy wisely. Taking on a physical challenge will help alleviate stress and encourage you to adjust your lifestyle to achieve your goals. Love, romance, fitness and self-improvement are on the rise. ★★★
LIBRA (Sept. 23-Oct. 22): Now is not the time to sit on the sideline. Embrace the future with optimism and confidence, and put your energy into a physical move that offers better prospects and returns. Take your skills to the next level and utilize them. Be a forerunner, not a follower.
SCORPIO (Oct. 23-Nov. 21): Make your life better by pursuing your goals. Home improvements and expanding your skills to include something you enjoy doing that can bring in cash will give you a new lease on life. Don’t wait for things to come to you. ★★★
SAGITTARIUS (Nov. 22-Dec. 21): Integrate what you love into your daily routine. Being a part of something that offers excitement, challenge and expansion will motivate you to mix business with pleasure to ensure you enjoy every aspect of your life. ★★★★
CAPRICORN (Dec. 22-Jan. 19): Listen, but refrain from buying into someone else’s plans. Live by your rules and follow your dreams. Learn from your mistakes and be true to yourself. Forget the past and let go of the anger it harbors. It’s forward-thinking and perpetual motion that will encourage solitude and happiness. ★★
AQUARIUS (Jan. 20-Feb. 18): Pay attention to your investments, health and contracts. Go over every detail and give your stamp of approval to whatever resonates with you. Be open and receptive to embracing new beginnings and updating your skills, qualifications and what you have to offer others. ★★★★★
PISCES (Feb. 19-March 20): Take your time with your next move. Check the facts and any applicable costs, and adjust your plans to meet your demands. Time is essential, especially when dealing with investments, challenges or a physical change you want to pursue. Refuse to let anger displace your drive to reach your destination on time. ★★★
BIRTHDAY BABY: You are charming, intelligent and forceful. You are imaginative and optimistic.
SOCIALITE’S SCANDAL
A YOUNG socialite, who is associated with people in power, reportedly committed fraud by cheating her business partner out of millions of pesos. The scam was said to be uncovered when a brand was charged for a luxury bag that would have been given as a gift to a popular online celebrity. However, the brand became disturbed when the said celebrity did not even say thank you for the gift. The young socialite was the one who was supposed to have purchased the luxury bag and handed it to the celebrity. When it was exposed that the socialite failed to do so, her business partner did some investigating and she uncovered a web of lies. A lawsuit has reportedly been filed against the young socialite.
ROLE PLAYING
THIS beautiful girl portrays herself to be a good mother in the face of a marital spat. But those who have known her before all this happened know that she always ignored her child and is now using her child for publicity. She has never been the maternal type and is one of those who use their kids for social media clout. It was so easy for people to sway the child’s opinion to their favor because there was no closeness with the parents to begin with. The child was mostly brought up by nannies.
IN LIMBO
IT’S been months since the actress’ contract expired and her network has yet to renew it. The higher-ups are reportedly hesitant to give in to the demands of her management. What they are interested in is a controversial actress who seems not to have official representation yet. Will the controversial actress take the plunge and sign up with the network, or will she stay where she is as she’s happy and thriving even if she has yet to achieve her ultimate goal?
REFRESHED FACE
THE reason why the actress is not getting any offers for movies and TV shows is that filmmakers are said to be uncertain about what to do with her. The thing is that the actress “refreshes” her face every year and observers say the look, while still very beautiful, becomes scarier every time something new is done. It’s a pity because she is quite a competent actress and did well in her past body of work. These days, all she can do are endorsements, which are not a
Kris Kristofferson, singersongwriter and actor, dies at 88; stars pay tribute
By Andrew Dalton & Kristin M. Hall
The Associated Press
LOS ANGELES—Kris Kristofferson, a Rhodes scholar with a deft writing style and rough charisma who became a country music superstar and an A-list Hollywood actor, has died. Kristofferson died at his home on Maui, Hawaii, on Saturday, family spokesman Ebie McFarland said in an e-mail. He was 88.
McFarland said Kristofferson died peacefully, surrounded by his family. No cause was given. Starting in the late 1960s, the Brownsville, Texas native wrote such country and rock ‘n’ roll standards as “Sunday Mornin’ Comin’ Down,” “Help Me Make it Through the Night,” “For the Good Times” and “Me and Bobby McGee.” Kristofferson was a singer himself, but many of his songs were best known as performed by others, whether Ray Price crooning “For the Good Times” or Janis Joplin belting out “Me and Bobby McGee.” He starred opposite Ellen Burstyn in director Martin Scorsese’s 1974 film Alice Doesn’t Live Here Anymore, starred opposite Barbra Streisand in the 1976 A Star Is Born, and acted alongside Wesley Snipes in Marvel’s Blade in 1998.
Kristofferson, who could recite William Blake from memory, wove intricate folk music lyrics about loneliness and tender romance into popular country music. With his long hair and bell-bottomed slacks and counterculture songs influenced by Bob Dylan, he represented a new breed of country songwriters along with such peers as Willie Nelson, John Prine and Tom T. Hall.
Kristofferson retired from performing and recording in 2021, making only occasional guest appearances on stage, including a performance with Cash’s daughter Rosanne at Nelson’s 90th birthday celebration at the Hollywood Bowl in Los Angeles in 2023. The two sang “Loving Her Was Easier (Than Anything I’ll Ever Do Again),” a song that was a hit for Kristofferson and a longtime live staple for Nelson, another great interpreter of his work.
FILIPINO singers wanted. Universal Pictures Philippines wants aspiring singers from across the country to take a leap and submit their rendition of the song “Defying Gravity” from the hit musical Wicked. Winners will get a chance to sing the Philippines’ rendition of the song in a music video in the Awiting Wicked contest. The official Universal Pictures Philippines TikTok account (@UniversalPicsPH) has posted the Awiting Wicked announcement and clips from the upcoming film Wicked, with the instrumental version of “Defying Gravity” that contestants can duet with. Entries should be tagged #AwitingWicked and entrants should set their accounts to public privacy setting so the video is visible.
The promo will run from September 18 to September 29, after which 30 winners will be given the chance to sing their rendition of “Defying Gravity,” and be part of the music video that will debut alongside Wicked as it arrives in Philippine cinemas on November 20, 2024.
For more information on Awiting Wicked, full mechanics can be viewed at tinyurl.com/bdfx6vz5
Follow the social media accounts of Universal Pictures Philippines for the latest updates on Awiting Wicked and the highly anticipated film adaptation of beloved musical classic Wicked
After two decades as one of the most beloved and enduring musicals on the stage, Wicked makes its longawaited journey to the big screen as a spectacular, generation-defining cinematic event.
Directed by acclaimed filmmaker Jon M. Chu (Crazy Rich Asians, In the Heights), Wicked is the first chapter of a two-part immersive, cultural celebration. Wicked Part Two is scheduled to arrive in theaters on November 26, 2025.
Here, stars react to the death of Kris Kristofferson:
“The first time I saw Kris performing at the Troubadour club in LA. I knew he was something special.”—Barbra Streisand, Kristofferson’s co-star in A Star is Born, on X and Instagram.
Right now, I’m on a small boat between Ustica and Palermo, listening to ‘Me and Bobby McGee,’ remembering Kris Kristofferson. Just like half of the world. I was lucky enough to work with Kris. He was a poet. Truly. Inside and out. And a damn good actor, a remarkable screen presence. Spending time with Kris when we made Alice Doesn’t Live Here Anymore was one of the highlights of my life.”—Martin Scorsese in
“It is hard to imagine a world without Kris
PPO
Kristofferson in it. Knowing and singing with him has been one of the greatest blessings of my life. I feel certain he will be holding court in heaven.”—Sheryl Crow, via Instagram.
“What a great loss. What a great writer. What a great actor. What a great friend. I will always love you, Dolly.”—Dolly Parton on X.
“Hey Whistler...you keep making those weapons— love, passion, skillmastery, and swag—and I’ll keep using them.”—Wesley Snipes on X, calling Kristofferson by the name of the mentor and armorer he played to Snipes’ title character in Blade.
“Every experience I had with Kris Kristofferson had the touch and feel of magic. Tough & kind. Authentic. Genuine. Real.”—Ethan Hawke on Instagram.
“The ultimate life well lived. Thank you for being a beacon of light in a darkening world. You were my hero and my role model. And even then, you managed
to exceed my expectations when you became my friend.”—Eric Church on Instagram.
“Loved this man, his talent, his mind and his beautiful heart. Journey well, my friend.”—Melissa Etheridge on X.
“Rest in peace singer, songwriter, veteran, working class hero.”—Tom Morello of Rage Against the Machine, on Instagram.
“An epic human with the biggest heart. you will be so, so missed. rest easy, my friend.”—LeAnn Rimes Cibrian on X.
“What a gentleman, kind soul, and a lover of words. I am so glad I got to meet him and be around him. One of my favorite people. Rest in peace, Kris.”— Reba McEntire on X.
“This legend was so good to me when we worked together on Dreamer. What an honor to have spent time in his presence.”—Dakota Fanning on Instagram. n
celebrates 40 years of music excellence with ‘Forte’
THE Philippine Philharmonic Orchestra (PPO), the resident orchestra of the Cultural Center of the Philippines (CCP), embarks on its 40th concert season with Forte, an inspiring series of performances. Under the baton of acclaimed music director and principal conductor Maestro Grzegorz Nowak, the milestone season pays vibrant tribute to Filipino culture and the universal spirit of celebration, featuring a diverse repertoire that takes audiences on a profound journey through life’s emotional
spectrum.
Bask in the astounding feeling of success and grandeur with Concert II: Triumph on November 15, 2024, at 7:30 p.m. Grammy Award-winning cellist Sara Sant’ Ambrogio joins the orchestra in a program featuring Rimsky-Korsakov’s Capriccio Espagnol, op. 34, Edward Elgar’s Cello Concerto, op. 85, E minor, and Robert Schumann’s Symphony No. 2, op. 61, C Major. Embark on a journey of imagination with Concert III: Fantasy on December 6, 2024, at 7:30 pm.
Featuring violin prodigy Andrea Obiso, the PPO concert presents Gioacchino Rossini’s William Tell Overture, Camille Saint-Saëns’ Violin Concerto No. 3, op. 61, B minor, and Peter Ilich Tchaikovsky’s Symphony No. 5. Wander through European sensibilities with Concert IV: Europa, slated on January 17, 2025, 7:30 pm. The PPO plays majestic melodies with Cleveland concertmaster David Radzynski.
The program includes Zoltán Kodály’s Dance of Galanta,
Tchaikovsky’s Violin Concerto No. 1, and Dvořák’s Symphony No. 8, op. 88, G Major. More concerts under the Forte series will be showcased in 2025. All concerts, except Concert V, will be at the Samsung Performing Arts Theater in Circuit Makati. Concert V: Hope will culminate at the Metropolitan Theater (MET), Manila. Tickets are priced at P3,000, P2,500, P2,000, P1,500, P800, and P500. More information can be found at www.culturalcenter.gov.ph.
Damian Lewis herds sheep over a London bridge in homage to a medieval tradition
LONDON—Actor Damian Lewis drove a flock of sheep across the River Thames on Sunday in homage to a centuries-old tradition.
Lewis is among thousands of people granted the honorary title of Freeman of the City of London, which in medieval times came with the right to bring livestock across the river to market without paying tolls. More than 1,000 freemen exercised that right on Sunday in the annual London Sheep Drive, many wearing black hats and red cloaks. Lewis wore his grandfather’s wool coat and carried a crook as he led the throng herding the animals over Southwark Bridge.
“It was fabulous,” said Lewis, star of Band of
Brothers, Homeland and Wolf Hall.
Lewis was asked to represent the Worshipful Company of Woolmen, a trade guild dating to the 12th century. He said he was pleased to be part of “this eccentric, very British day, honoring an old tradition.” Manny Cohen, Master Woolman at the Worshipful Company of Woolmen, said the ancient sheep-driving tradition was revived about 15 years ago and has become a major charity fundraising event. There are no plans to bring back other ancient freemen’s privileges such as the right to carry an unsheathed sword in public and to be escorted home if found drunk. AP
BDO Capital is PHL’s Corporate, Investment Bank of the Year for 7th Consecutive Time
BDO Capital & Investment Corporation
(BDO Capital) was recognized as the Philippines’ Corporate and Investment Bank of the Year for the 7th straight year at the Asian Banking & Finance Awards 2024 in Singapore. BDO Capital has continued to provide outstanding advisory services to its clients and has prioritized digital transformation and business continuity, improving client coverage and market presence. This strategic approach has enabled BDO Capital to secure engagements from both new and repeat clients as the market recovers.
BDO Capital remains focused on leading in debt capital markets and selectively pursuing public and private equity transactions. The firm continues to engage in high-value acquisitions and project finance transactions, leveraging the strong balance sheet of its parent bank, BDO Unibank. With a comprehensive suite of products that includes investment banking, stock brokerage, and commercial banking, BDO Capital has attracted significant client engagements and built a robust transaction pipeline cementing its leadership in the investment banking sector.
In addition to this recognition, BDO Capital received the Project Infrastructure Finance Deal of the Year award as it played a key role in financing the MRT-7 Project, a 22-kilometer Metro Rail Transit system
set to significantly ease congestion on Metro Manila’s roads. Slated for completion in 2025, MRT-7 is expected to serve up to 850,000 passengers daily, boosting economic growth along its route. The MRT-7 Project Finance loan, the largest-ever peso-denominated syndicated term loan in the Philippines, amounted to P100 billion (approximately US$1.7 billion).
BDO Capital also earned the Green Deal of the Year award for serving as Joint Issue Manager and Joint Lead Underwriter in ACEN Corporation’s issuance of P25 billion perpetual preferred shares. This innovative offering, featuring a pioneering fixed-for-life structure, was crafted to accelerate ACEN’s renewable energy expansion and diversify its funding sources. The successful issuance, which fully exercised an oversubscription
option, will enable the development of more than one gigawatt of renewable energy projects in the Philippines.
BDO Capital has garnered international and local recognition as the Best Investment Bank in the Philippines from prestigious publications and associations such as the Investment House Association of the Philippines, The Asset, Finance Asia, Asiamoney, Alpha Southeast Asia, Global Finance, Acquisition International, and the Asia Pacific Loan Market Association.
The company’s continued dominance in the domestic investment banking industry is attributed to its robust capital strength and stability, strong distribution capability, and customer-centric approach, offering customized, optimal solutions to achieve the business goals of clients, issuers, and investors.
Physical rehab clinic Vital Kinetics opens new branch in MOA Complex
EXPANDING its reach to provide cutting-edge physiotherapy and rehabilitation services to Filipinos, Vital Kinetics recently opened its newest branch at Five ECom Center, Mall of Asia Complex, Pasay City. The clinic’s other location is at Spark Place Mall, Cubao.
Vital Kinetics offers comprehensive rehabilitation services to those diagnosed with neurologic and musculoskeletal issues or injuries like movement disorder, stroke, sports, and spinal cord injuries. The clinic boasts a wide range of modern equipment that include therapeutic ultrasound, shockwave therapy, and
dry needling – a technique, which targets affected muscles or trigger points, is not commonly available in other clinics due to its specialized certification requirement.
To ensure patients receive comprehensive expert care, the clinic has assembled a highly qualified team of physiotherapy therapists and inhouse orthopedic and rehabilitation doctors.
“Opening our new branch is an exciting milestone for us,” Vital Kinetics clinic manager Princess Pepito said. “It will allow us to serve more patients who need our services, especially in the fast-growing and
STATE-OWNED Development Bank of the Philippines (DBP) has intensified its corporate social responsibility (CSR) efforts by partnering with the Department of Education to expand its assistance to public schools especially those located in low-income areas, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said that the Bank has disbursed over P4 milion for the DepEd’s Adopt-a-School Program (ASP).
“DBP has stepped up its CSR initiatives in solidarity with President Ferdinand Marcos Jr.’s vision of enhancing the inclusive quality of education,” De Jesus stated. “Through these recent efforts, DBP has been able to reach far-flung areas and aid the poor and underprivileged students in the country.”
DBP is the 10th largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small, and medium enterprises; environment; social services and community development.
The ASP was established by virtue of Republic Act No.8525 or “Adopt-a-School
Act of 1988” which aims to improve the quality of education in the country by addressing the shortage of resources in public schools.
De Jesus said under the ASP, DBP has released a total of P4 million to eight partner schools nationwide such as Saguday National High School in Quirino, Balud National High School in Masbate, Beniton Integrated School - Bontoc 1 in Southern Leyte, Sultan Mamarinta Panandigan Integrated School in Iligan City, Lanao Del Norte, B.A. Calamba National High School in Cotabato, Lintugop National High School in Zamboanga Del Sur, and Samboan National High School and Argao National High School in Cebu.
He said DBP’s financial assistance was used in the procurement of computers, installation of stable internet connection, distribution of learning equipment, and improvement of facilities.
“DBP would closely coordinate and collaborate with other government agencies to look for ways to maximize support to disadvantaged sectors and at the same time, promote social inclusion and drive positive change,” De Jesus said.
for manifesting the Christian values and teachings of St. Francis of Assisi, the school’s patron saint, in promoting peace and goodness, or Pax et Bonum, the school’s motto. The first of its kind in the history of LSQC, the award was given by the LSQC administration in cooperation with the LSQC Alumni Association. Shown in photo, from left, are the awardees with LSQC and LSQCAA officials: Jose Agoncillo, LSQCAA Assistant Secretary; George Mercado, master of ceremonies; Roman Escueta for Antonio Cruz, Class ‘67 (medicine); Mariusse Chars Esquillo, Class ’99 (oral medicine); Ramoncito Fernandez, Class ‘72 (infrastructure and utilities); Nestor Tan, Class ’74 (universal banking); Enrico Mina, Class ’68 (academe); Adrian Borja, LSQCAA President; Enrico Cruz, Class ’73 (commercial banking); Emmanuel Lat, Class ’64 (medicine); Adelio Angelito Cruz, Class ’83 (government service); Lorenzo Fromoso, Class ’76 (retailing); Richard Fadullon, Class ’79 (government service); and Fr. Aristotle Padama, Cap., Rector.
Bulacan gubernatorial candidate pushes for real, tangible progress for province
SALVADOR “Bogs” Violago, the officially endorsed candidate for Governor of Bulacan by Partido Federal ng Pilipinas (PFP), met with the local press at Midas Hotel to unveil his vision for the province, just two weeks before formally filing his candidacy.
The event, expertly managed by SOCEX Consulting Corp., allowed Violago to share his unwavering commitment to “Asenso Bulakenyo” and his platform of “Tunay na Pagbabagong Ramdam ng Lahat”.
During the press meet, Violago outlined his plans to enhance Bulacan’s infrastructure and disaster preparedness. His strategies to push for resilient development include fortifying public facilities and implementing comprehensive disaster response plans to ensure the province can effectively recover from various challenges.
He also discussed his commitment to create jobs, improve educational access for all and expand healthcare services. Violago aims to ensure that every Bulakenyo has the opportunity to thrive through equitable opportunities.
highly urbanized MOA district.”
She added that with the expansion, they “hope to continue setting the standard for physiotherapy services in the Philippines, with the goal of giving Filipinos access to high-quality recovery care that aims to help them get back to their best physical condition as quickly and safely as possible.”
Vital Kinetics accepts bookings, walk-ins, home services, and PhilCare members. To know more about Vital Kinetics or to schedule an appointment, visit their branch or call 09618703148 or contact Princess Pepito at 09950549922.
Violago vowed to exercise accountable leadership. This he pledged to practice through transparent governance via open data policies and regular updates, emphasizing the importance of community engagement in decisionmaking processes.
To have a lasting impact, his vision includes promoting environmental sustainability, preserving Bulacan’s cultural heritage, and implementing progressive policies for enduring development.
“My vision for Bulacan is not just about promises but about real, tangible progress,” Violago stated. “Asenso Bulakenyo reflects my commitment to creating a thriving and inclusive province where every Bulakenyo can achieve their full potential.”
The press meet successfully showcased Violago’s dedication and strategic approach to governance. SOCEX Consulting Corp’s role was crucial in delivering a polished and impactful presentation of Violago’s vision for Bulacan’s future. He invites the people of Bulacan to experience his leadership and find the “real change” they have been waiting for.
CANDICE Lee, Manager of Institutional Banking of BDO Singapore; and Sonny Marpuri, First Vice President and Head of Accounting & HR of BDO Singapore received BDO Capital’s awards from Nick Atkinson, Contributing Editor of Asian Banking & Finance magazine. BDO Capital won the Corporate and Investment Bank of the Year, Project Infrastructure Finance Deal of the Year and Green Deal of the Year awards in Singapore.
IN the photo are, from left, Medical Director Dr. Eilyn E. Ayuste; Chief Finance Officer Victor Tan; Associate Medical Director Dr. Ultra Tan; Health Benefits from U.S. Embassy Manila Francis L. D. O’Dell.
LOURDES SCHOOL QC HONORS ALUMNI. At its annual alumni homecoming this year, Lourdes School Quezon City (LSQC) recognized ten of its alumni for exemplary leadership and outstanding service in their respective fields. The ten alumni received the St. Francis of Assisi Peace Fellow Award
Editor: Tet Andolong
BusinessMirror
Shift to suburban development benefiting developers
By Rizal Raoul S. Reyes @brownindio
The shift to suburbia is one bright spot in the local property sector as developers and investors developers and investors looking for properties to develop and acquire in major growth areas outside of Metro Manila, including central Luzon, southern Luzon, western Visayas, central Visayas, and Davao region, according to Colliers Philippines.
“Colliers encourages developers to continue seizing growth opportunities in the abovementioned regions. g iven this strategy, ‘sustained, strategic, and on schedule’ infrastructure will remain pivotal in guiding developers’ expansion. We expect more attractive promos to be extended given the rising ready for occupancies [r FOs],” says Joey r oi Bondoc, research director at Colliers Philippines.
In his blog posted on the web -
site of Santos Knight Frank, a njo Sumait, Manager r esidential Services of Santos Knight Frank points out the different factors behind the tremendous growth of the sector such as the ongoing process of gentrification in the nearby provinces, a recalibrated transportation system, and the turnover of new infrastructures, which will greatly improve interconnectivity between provinces and cities.
Sumait says gentrification in
nearby provinces plays an important role in influencing the real estate landscape, providing opportunities for developmentand investment outside of traditional urban centers. “This presents a promising prospect for both developers and potential homeowners, as it offers the potential for new urban centers to emerge, thereby spreading economic activities and real estate,” says Sumait. He points out that movements in the fringe regions have already shown various indicative signs of flourishing township developments, presenting a forceful argument for diversifying real estate portfolios beyond the traditional urban centers.
Sumatit says this presents an opportune time for investors and stakeholders to consider the diverse and evolving landscape of real estate opportunities beyond the metropolitan sphere development.
Benefiting from investing outside NC r T H e a ntonio-led PHirst Park Homes Inc. made the right move
Filinvest Land unveils new phase in Amarilyo Crest
Residences, Rizal
Full-range property developer Filinvest l and Inc. (F l I) opens a new phase in a marilyo Crest r esidences within the sprawling Havila e state in Taytay, r izal. Moving up to a brighter living is now possible with more residential lots awaiting aspiring homeowners.
During the recent unveiling ceremony held at Phase 1 a of the project, the company announced the successful completion of land development. a mong the distinguished attendees was Taytay Councilor Patrick a lcantara, who joined key representatives from Filinvest l and and other invited guests in celebrating this significant milestone.
a marilyo Crest r esidences features a vast expanse of greenery and a collection of coveted, spacious lots ranging from 140 to 258 square meters. Its new phase currently has 35 exclusive lots available, offering the ideal property size to build a dream home located near various conveniences for modern living. a mong the many benefits of living in this thriving community is its accessibility to Metro Manila, the Ortigas Central Business District, and multiple key destinations. n estled in the 300-hectare Havila township that spans across Taytay, a ntipolo, and a ngono in r izal, this vibrant enclave ensures effortless connectivity to essential establishments. r esidents enjoy proximity to prestigious educational institutions such as San Beda u niversity and Pare F r osehill, as well as major commercial centers, making it an ideal location for both work and leisure.
Placed in one of the highest landscapes in Havila, a marilyo Crest
r esidences is carefully planned to elevate life and leisure experience. r esidents here can unwind and spend countless moments in healthy, family-friendly amenities surrounded by stunning hillside views and the refreshing mountain breeze. The clubhouse with swimming pool creates the perfect venue for simply relaxing with loved ones while the basketball court and children’s play area are for those seeking active pursuits. There are also
as it embarked on a rapid expansion, with 23 developments across key areas in northern and southern l uzon and the Visayas region.
Moreover, PHirst, the first-home brand of Century Properties group, continues to garner recognition in the affordable housing sector by delivering attainable homes in wellplanned communities.
PHirst’s e VP and COO, l oren Sales says the company’s strong performance in the industry was underscored by its recent recognitions with three notable awards from two prominent award-giving bodies.
Further, Century PHirst Corporation’s PHirst e ditions Batulao earned the Best Townhome Developer in l uzon,at the 9th Dot
Property Philippines awards; “This distinction reflects the company’s commitment to addressing the demand for accessible housing in the Philippines. PHirst is known for its 4Cs philosophy which has been the company’s guiding force in developing its communities,” Sales explains.
e ach unit is delivered fully complete, with a perimeter fence, gate, ceiling, flooring, garden or carport provision, and an expandable layout. These homes are built within communities designed to promote a holistic and healthy lifestyle through Conceptive amenities intended for residents of all ages,” Sales adds.
PHirst is also aware of the im -
portance of connectivity as a major need of the homeowners. It has established WiFi nodes and a shuttle service to major transport hubs. This attention to detail extends to the entire home-buying process, where PHirst facilitates a Convenient experience, from selection to ownership, tailored to meet the needs of future homeowners.
Further, the company received two more honors at the Property g uru Philippines as PHirst Park Homes Inc. received the Highly Commended award for Best Housing Developer, while one of Century PHirst Corporation’s standout projects, PHirst e ditions Batulao, was also named as Best Housing Development in l uzon.
Veteran MLB scout shifting mindset of PHL batters
By Aldrin Quinto
THE men’s baseball team is raring to assert its supremacy in the Southeast Asian region and bracing for battle against powerhouse squads in the continent.
Coach Vince Sagisi, tapped to take over the men’s team at the start of the year, vowed that the double-digit runs scored against Singapore in recent tune-up matches will translate into victories against strong opposition Japan, Korea and Taiwan. Sagisi said the first step is transforming the mindset of the hitters and they hope to show the changes when the country hosts the 14th East Asia Baseball Cup from October 29 to November 4 in Clark, Pampanga.
“When you allow hitters to
hit, good things happen,” Sagisi, a native of Ilocos Sur who went on to become a Major League Baseball scout for 13 years, told the Philippine Sportswriters Association Forum on Tuesday at the Rizal Memorial Sports Complex Conference Room. “We give them the green light to swing at any pitch. They’ve become more confident in their approach.”
The tournament serving as a qualifier for the Asian championship features teams from Thailand, Indonesia, Singapore, Malaysia, Cambodia, Hong Kong and the Philippines.
On the West side of the competition are India, Sri Lanka, Pakistan, Iran and Iraq with the top two teams advancing to the continental championship.
Working on hitting tendencies
will help the Philippines to not only maintain its place as a favorite in the region but also give the Filipino batters a chance to challenge for the bigger titles, according to Sagisi.
The former Texas Rangers, St. Louis Cardinals and Cleveland Guardians scout said the Philippine team has quality hitters, but the approach needed some change—the majority were dead pull hitters and some would resort to bunts when there is a chance to swing at it.
“We let our hitters hit every count, we don’t bunt. I’m not a big proponent of the bunt because that’s a wasted out.”
“We also teach our hitters to hit left center to right center because that’s where the hits are. That’s the different approach that these guys are taking.”
Future stars clash in JPGT Match Play Finals
THE International Container Terminal Services Inc. (ICTSI) Junior Philippine Golf Tour (JPGT) National Match Play Finals kicks off Wednesday at The Country Club in Laguna with 62 of the country’s top junior golfers hoping to keep their momentum from the grueling elimination rounds in Luzon, Visayas and Mindanao.
The competitions in the 8-9, 1012, 13-15, and 16-18 age groups for boys and girls promise excitement with the unpredictable nature of match play bringing dramatic headto-head battles.
Stroke play c begins Wednesday to determine the players’ rankings for the knockout stages, with the 13-15 and 1618 categories immediately moving on to their match play duels in the afternoon. The quarterfinals for all age groups are scheduled Thursday followed by the semifinals, finals and third-place playoffs on Friday.
Stroke play tiebreaks will be decided by scores on the last nine holes (10-18), with further scrutiny on the final six holes (13-18) and the final three holes (16-18). For match play, any tie will lead to a hole-by-hole playoff.
It will be a fierce showdown of skill,
strategy and mental toughness among the emerging young talents in the series organized by Pilipinas Golf Tournaments Inc. and sponsored by ICTSI. Luzon’s Patrick Tambalque, Mark Kobayashi, Zachary Villaroman and Francis Slavin are ready as well as Simon Wahing and John Rey Oro from the Visayas and Cliff Nuñeza and Aldrien Gialon from Mindanao with multi-series finalist John Paul Oro as a strong contender.
The girls’ 16-18 category is also expected to go unpredictable with Luzon’s Lia Duque, Angelica Bañez and Rafa Anciano facing off against the Visayas’s Dominique Gotiong and Rhiena Sinfuego and Mindanao’s Ally Gaccion and Crista Miñoza and Necky Tortosa, a multi-series finalist. In the 8-9 division, Athena Serapio, Tyra Garingalao and Amiya Tablac from Luzon, Eliana Mendoza from Visayas, and Francesca Geroy from Mindanao are competing for the girls’ title, while the boys’ division will see intense competition among Jesus Yambao, Michael Ray Hortel II (Luzon), Kvan Alburo, Tobias Tiongko (Visayas), and Shaqeeq Tanog and James Rolida (Mindanao).
Jaworski’s Miss Universe
THE last time I saw Robert Jaworski was about 10 or so years ago. I bumped into him at the SMX Convention Center in Pasay City, where cultural artifacts from China and the Philippines were on exhibit. We share the same passion about archives, history and a country’s exquisite era in medieval times.
“How is Miss Universe?” Jaworski said in his opening salvo to me.
“Oh, she is very, very fine,” I said to him.
“It’s been years since we last met,” he said. “How’s the family?”
“Fine, very fine, thank you,” I said. “And you, the family?”
“The family’s fine, too, thank God,” he said.
He’s been always like that: Wanting to know if your family is good, doing well. Miss Universe is my daughter, Malaya—she with the beautiful brown eyes.
New faces settle into new homes
By Tim Reynolds The Associated Press
KLAY THOMPSON walked through the Dallas Mavericks’ facility in his new uniform for the first time, Chris Paul posed side-by-side with Victor Wembanyama in San Antonio, one standing about a foot and a half taller than the other. And LeBron James and Bronny James officially headed to work together in Los Angeles as the National Basketball Association’s (NBA) first father-and-son teammates.
Basketball is back. Monday was Media Day for 28 of the 30 NBA teams, featuring new faces—Paul, Thompson, Paul George in Philadelphia among them—in new places and tons of optimism everywhere before training camps truly begin for those clubs on Tuesday.
The exceptions are Boston and Denver—they got to start camp last week because they’ll be heading to the United Arab Emirates for preseason games this week.
San Miguel Beer, Meralco open EASL
“Nice to meet you, Miss Universe,” he said to Malaya upon introduction.
Jaworski never forgets life’s essentials.
“I’m sure Miss Universe now has a family of her own,” Jaworski said.
“Yes,” I said. “She now has a daughter and a son.”
“Great!” he said. “Lolo ka na rin pala.”
In parting, Jaworski said, “Hugs to Miss Universe, to your
my dear kumare and to Dayong and his family.”
Jaworski stood as Dayong’s wedding godfather in 1997.
I couldn’t say no to Dayong when he wished for Jaworski to
DE LA SALLE’S basketball teams appear headed toward different directions in Season 87 of the University Athletic Association of the Philippines (UAAP) but in terms of individual play, Michael Phillips and Luisa San Juan are drawing strength from the same well of skills.
The Collegiate Press Corps for the UAAP named both Green Archers as Players of the Week covering September 25 to 29—Phillips for his consistency in carrying the men’s team to a secondrunning 5-1 win-loss record and San Juan for her gallant and record-breaking performance for the women’s squad that are 1-5 near the bottom of the cellar.
Phillips posted a double-double in De La Salle’s victories over Far Eastern University (FEU), 68-62, and University of Santo Tomas (UST), 88-67—he had
SAN MIGUEL Beer and Meralco get the Philippine side going in the East Asia Super League (EASL) that kicks off Wednesday as they face separate opponents in the opener of the Home and Away Season 2 at the SM Mall of Asia Arena. The Beermen will parade imports EJ Anosike and Quincy Miller against the Korean Basketball League’s Suwon
“It’s the NBA. Everyone starts 0-0 at the beginning of the year,” said another of those new faces in new places, guard Alex Caruso of the Oklahoma City Thunder.
“And everyone thinks that they could win a championship or reach the playoffs, whatever it is, that big trophy for that team at the end of the year. You have to show up and play the games.”
Media day might be the happiest, most lighthearted day of the NBA year. Players make silly poses for the camera, sometimes commandeer the cameras themselves, do a ton of interviews and generally seem to be enjoying themselves.
The hard work starts Tuesday. About half the teams in the league will be holding at least some of their training camp on the road—for example, Miami and Philadelphia are going to the Bahamas, while Golden State and the Los Angeles Clippers are off to Hawaii—in an effort to bond and limit distractions.
“We’ve got a lot of new faces and a lot of guys trying to take next steps in their careers and it is going to be fun from Day 1 tomorrow when we hit the court and start getting our reps in,” said Stephen Curry, the Golden State star guard and now Olympic gold medalist as well. “We say it all the time in training camp. It is a way of thinking if you want to be great in this league, but it is true for us more than ever. Every day does matter for us to be able to figure this thing out.”
For the Warriors, they’re figuring out life without Thompson. There’s a flip side of that coin: The Mavericks, who went to the NBA Finals last season, now get to figure out what life will be like with the veteran sharpshooter.
“I’m excited that he decided to come
here, that he decided to commit to us for the next few years,” Dallas guard Kyrie Irving said of Thompson. “And I feel like our dreams can be possible because he’s here now and he’s added some great value to our championship aspirations.” The 76ers feel the same about George, who comes to Philly to pair up with Joel Embiid and Tyrese Maxey after being part of the Clippers.
“I think we’re kind of right in the middle of where you need to be to compete for a championship,” George said. And even though they couldn’t talk about it—the trade wasn’t official during their media day events Monday—the New York Knicks surely feel the same about Karl-Anthony Towns, who is on the move after a surprise trade from Minnesota.
“KAT’s an amazing player,” the Knicks’ Josh Hart said, which is about all that anyone from New York could say because the trade was still pending. In San Antonio, the 6-foot Paul posed next to the 7-foot-4—or more— Wembanyama. Paul barely reached the shoulder of the reigning rookie of the year. Paul was brought in to help lead a team that the Spurs hope is on the rise, after years of being someone tough for the team to deal with in opposing uniforms.
“I have despised Chris for many years,” Spurs coach Gregg Popovich said.
Collegiate league scribes pick DLSU aces week’s best
KT Sonicboom in the 6:10 p.m. curtain
be his ninong. Mostly, fathers bow to their children.
“Been following Dayong’s coaching career at San Miguel Beer,” Jaworski said. “At San Miguel, his career will grow.”
Jaworski spent years as coach-player of Ginebra San Miguel, the sister-team of San Miguel Beer.
And why, for the umpteenth time, is Jaworski my topic today?
He just resurfaced—in spirit, that is—to receive the Lifetime Achievement Award last week from the Philippine Basketball Association (PBA) Press Corps.
Unwell for some time now, Jaworski sent his message of acceptance that was read by his son, Dodot, the vice mayor of Pasig City.
Eloquent as ever, Jaworski said: “Reflecting on my career, I am truly grateful for the opportunities I have had and the people who have supported me. From my early days with Toyota to my years with Barangay Ginebra, my journey in the PBA has been extraordinary, to say the least.”
Always a family man, Jaworski, the winner of 13 PBA titles, emphasized in his speech the importance of family support, singling out his wife.
“To my family, with special mention to my wife, Evelyn, thank you for your unwavering support and sacrifices,” he said.
“Your love and encouragement have been my foundation, and I share this honor with you.” Jaworski, now 78, reportedly caught a mysterious blood disease during the Covid-19 pandemic; he hasn’t been seen in public since. He may be down, but to his legion of fans, he is never out. His never-say-die mantra dwells in their hearts like bees to flowers. And, unabashedly, may I shout, at the top of my lungs: Long live “The Living Legend!” Miss Universe can only agree. THAT’S IT Hat’s off to Philippine Olympic Committee president Bambol Tolentino for joining forces with Gennady Golovkin, the former world middleweight boxing champion and who is now
Brown and Terrence Fortea, FEU’s Jorick Bautista and Mo Konateh and University of the East’s John Abate. “I think I kind of speak for every one of my teammates,” Philips said. “We can’t really do this on our own. I don’t want to put myself in a partial light, because I’m
