BusinessMirror October 03, 2024 by BusinessMirror

IMF cuts ’24, ’25 growth forecast for PHL

THE International Monetary Fund (IMF) has decided to reduce its growth forecast for the Philippines on the back of a moderation in the growth of consumption in the coming months.

e IMF now expects the country’s GDP growth to average 5.8 percent this year and 6.1 percent next year. e IMF reduced its forecast by 0.2 percentage points in 2024 and 0.1 percentage points in 2025.

Inﬂ ation is also expected to average 3.3 percent this year and 3

percent next year on the back of lower food inﬂ ation as well as the slowdown nin core inﬂ ation.

“ e downward revision from our July forecast, reﬂects our view that private consumption is going to grow slightly with less momentum,” IMF Mission Head Elif Arbatli Saxegaard explained in a brieﬁ ng on Wednesday.

“So I would like to highlight that the downgrade is very small, 0.2, and reﬂects the fact that the ﬁ rsthalf private consumption growth was lower than what we had anticipated. And this might be in part driven by the high food prices,” she also said.

Saxegaard also noted that while there was a reduction in the forecast for the country’s GDP growth, this remained to be one of the highest in the region.

“I would also like to highlight that the growth forecast for the Philippines remains one of the highest in the region. Its 6.1 percent growth for 2025 is a very respectable growth rate. It’s a very small adjustment reﬂecting the outturns of the ﬁ rst half,” she added.

Given the expected slowdown in inﬂ ation, IMF also expects the Bangko Sentral ng Pilipinas (BSP) to ease monetary policy “gradu-

ally” to reach what IMF considers as a neutral interest rate.

While the IMF did not want to provide an outlook on the possible terminal rate of the BSP for 2024 and 2025, it noted that a neutral policy rate would be around 1 to 3 percent in real terms. e BSP, IMF said, is on track to reducing policy rates to this level.

“We do see many central banks gradually reducing policy rates to levels that what economists call the neutral level of the policy rate. But that remains very uncertain given the changes and the shifts

BIR PINS HOPES ON TAX

A FTER months of falling short of its high targets, the Bureau of Internal Revenue (BIR) is pinning its hope of reaching the P3.055-trillion revenue goal on taxing online sellers.

Internal Revenue Commissioner Romeo D. Lumagui told reporters on the sidelines of the Kapihan sa Manila Bay on Tuesday that the incoming withholding tax on online sellers will help in generating more revenues. Lumagui said the 1-percent deduction from earnings as withholding tax from local online sellers will be collected by the BIR this coming November.

When asked by reporters if he is confident of reaching the BIR’s P3.055-trillion target this year, Lumagui said, “Confident tayo na magiging maganda ang performance ng BIR. Ang growth maganda ang tinatakbo. [We are confident that the performance of the BIR will be www.businessmirror.com.ph

OREIGN direct investments

(FDI) are on a downtrend all over the world, despite the United States and Asia picking up some; this will eventually lead to a slowdown in global economic growth. In a new paper, Oxford Economics Lead Economist Adam Slater said, “In recent years, the pace of global foreign direct investment has slowed markedly. World FDI ﬂows rose rapidly from 1990-2016—by around 13 percent per year on average in nominal dollar terms. As a share of world GDP [gross domestic

product], FDI flows surged from less than 1 percent in the early 1990s to a peak of around 2.5 percent in the decade preceding the global fi nancial crisis, and stayed at around 2 percent of GDP up to 2017 based on Unctad [United Nations Trade and Development] data. But since then, FDI flows have declined in absolute terms and as a share of world GDP.”

e Bangko Sentral ng Pilipinas (BSP) recently reported that net FDI in the Philippines reached US4.4 billion in the ﬁ rst half of 2024, almost 8 percent higher than the same period last year. For June 2024 alone, net FDI fell 29 percent to $394 million

HE Department of Finance (DOF) on Wednesday gave assurances the valueadded tax (VAT) on digital services will not hinder the growth of the digital economy.

President Ferdinand R. Marcos Jr. signed Republic Act 12023 or the VAT on Digital Services on Wednesday, October 2. The 12-percent VAT will be imposed on all digital services, such as online marketplaces, including Shopee and Lazada; online media, such as YouTube, Net ix and Spotify; online advertising; online search engines, including Google and Yahoo; cloud services and digital goods.

In a press brie ng in Malacanan Palace on Tuesday, DOF Director Euvimil R. Asuncion said the possible price increases on digital services would a ect their businesses.

“We think there would be no impact as to the growth,” Asuncion said, adding that possi-

ble increases in service prices would not impact their services.

Internal Revenue Commissioner Romeo D. Lumagui Jr. said it is up to the businesses, the local and foreign digital service providers, to decide whether they would increase the prices of services they o er.

“Puwedeng magkaroon ng [There could be a] price increase but again think it would be minimal. Hindi naman iyan 12 percent automatically mag-i-increase [It doesn’t mean the prices would also increase by 12 percent] sila also commensurate the same rate,” Lumagui said.

Local creative industries are at an advantage since 5 percent of the collected revenues will be earmarked to foster innovation and empower Filipino creators and entrepreneurs.

“We think that would be really helpful as well,” Asuncion said.

Actor Alfred Vargas is seeking re-election as a councilor in Quezon City’s ﬁ fth district after he previously served as the district’s representative from 2013 to 2022.

Actor Enzo Pineda is likewise running for a councilor seat in the same district. His father, Enrico “Eric” Pineda, previously represented the 1-Pacman party-list in Congress.

Ion Perez, Vice Ganda’s husband and co-host of It’s Showtime, has also submitted his COC for councilor in Concepcion, Tarlac, and has joined the Nationalist People’s Coalition.

Meanwhile, actor Marco Gumabao is vying for a congressional seat in Camarines Sur’s fourth district.

His father, actor and convicted kidnapper Dennis Roldan, was a former councilor and representative for Quezon City’s third district.

Gumabao is part of the Team One CamSur slate led by Governor Luigi Villafuerte.

Rosemarie “Rosmar” TanPamulaklakin, social media influencer and skincare entrepreneur, has fi led her COC for councilor in Manila City’s fi rst district.

Tan-Pamulaklakin admitted that she did not originally plan to run for oﬃce in this election.

Sa social media po minsan po kolokoy ako, nang-aasar, patola... Ngayon po, makikita niyo ’yung Rosmar na seryosong tao,” she said.

3-4 yr window for signing FTA critical to PHL exports to EU

@andreasanjuan

ALMOST 28 percent of Philippine exports to the 27-member bloc European Union (EU) will be aﬀected if the free trade agreement (FTA) between the two parties won’t be signed three to four years from now, according to the Department of Trade and Industry (DTI).

“I mean, on a practical aspect, because of the ongoing beneﬁts enjoyed by our exporters, we should really have an FTA because otherwise, after three or four years, when we graduate almost 28 percent of our total exports to the EU will be aﬀected,” DTI Undersecretary for International Trade Group (ITG) Allan B. Gepty said at the

Stakeholder Consultations for the PH-EU FTA.

Gepty also noted that according to the International Trade Centre (ITC), the Philippines has $8.3 billion in untapped export potential to EU.

“And this is not to mention that in the study by ITC that I cited, we already have $8.3-bil-

lion untapped export potential to EU, so the eﬀ ect of having this disrupted is really big,” the Trade oﬃ cial said.

For her part, DTI-Export Marketing Bureau (EMB) Director Bianca Pearl R. Sykimte told the

that “bulk” of these products “would be under machinery and electronic products, then agriculture [bananas, pineapples, coconut products], followed by other manufactured goods [lenses, bags, syringes], garments, aerospace parts.”

Gepty noted that President Ferdinand R. Marcos Jr. said in one of his speeches that he wants the FTA negotiations to be concluded by 2027.

e Trade oﬃcial said the negotiating team is working hard to ﬁ nish the negotiations “as soon as possible,” adding that they have “inherent pressure” to conclude given that the Philippines is hitting the upper middle income status.

Under the EU Generalised Scheme of Preferences Plus (GSP+) rules right now, Gepty said, “For three consecutive years, if we are under the upper middle income status, then we will not qualify anymore to this preferential arrangement.”

Gepty said this is the “pressure point” on the part of the Philippine negotiating team.

e Trade oﬃcial told this paper that the negotiation between the Philippines and the 27-member bloc for the FTA is “about to resume this coming October 14-18.”

In 2023, the EU was the Philippines’s 5th largest trading partner, 6th export market and 6th import source.

Philippine exports to EU amounted to $8.37 billion while imports from the 27-member bloc reached $7.79 billion.

In 2023, the top Philippine exports to the EU were: electronics, semiconductors, coconut oil and tuna.

BIR PINS HOPES ON TAX FOR ONLINE SELLERS

good. e growth is going well].”

“Hopefully, because we will intensify our enforcement, which you will see in the coming weeks,

we will become even more aggressive in our enforcement,” Lumagui added.

Data from the Bureau of the Treasury (BTr) showed the BIR has collected P1.920 trillion in

revenues as of the end of August 2024, lower by P153 billion out of the P2.073-trillion target for the period. Notably, excise taxes declined by P27.359 billion to P167.480 billion from the P194.839-billion goal for the January-July 2024 period. is is also lower by 4.12 percent from the P174.684 billion recorded from January to July 2023.

Moreover, the BIR’s net income and proﬁts from January to July 2024 hit P860.143 billion— lower by P86.083 billion from the P946.226-billion target for the same period.

However, net income and prof-

Wages going up in Cagayan, CL, Soccsksargen

a worker in industry or a big ﬁ rm. And buys it for same cost given the same urban setting,” he told BM Velasco added that many employers see minimum wages as a ceiling, rather than a ﬂoor, of what they should pay workers.

“I do not observe many ﬁ rms voluntarily following this practice of increasing wages above the minimum in consideration of productivity diﬀerentials,” he said. As a result, many workers continue to receive the smallest portion of the economic pie—regardless of their level of productivity.

“Workers do not get their just share in the fruits of productions as mandated in the Philippine Constitution, even if the size of the economic bilao increases due to their eﬀorts,” Velasco said.

Justine Xyrah Garcia

In 2025, the government expects to collect P7.25 billion in revenues assuming a 50-percent compliance.

From 2025 to 2029, revenues are expected to reach P102.12 billion.

“We are con dent that this will not discourage [foreign investors] from coming here in the Philippines,” Lumagui said since the VAT on digital services is not a new tax but aligns with international standards on vatable sales.

Not a new tax

THE BIR chief said multinational companies are aware that they need to pay VAT where their products and services are consumed. In the Organization for Economic Cooperation and Development (OECD), tax administrators have discussed and agreed upon this tax policy.

Further, Asuncion noted that the VAT on digital services is done in countries and have

from the $555 million in June 2023. (See, “FDI inﬂows decline to 4-yr low in June,” in the BusinessMirror, September 11, 2024.)

e outlook for FDI in greenfield projects, i.e., new operations of foreign investors, is brighter though, having grown more in 2022 and 2023, and show a significant shift away from China to other Asian economies and the US. “ is suggests US industrial policies may be working. But detailed US data is more ambiguous, showing only modest increases in upfront greenfield FDI spending in manufacturing,” Slater noted.

He cautioned, however, that greenfield investments are announced plans, instead of actual inflows into the economy, and are thus minimal compared to total FDI. He cited US data in 2023, where “expansions of existing fi rms and establishments of new ones represented only $13.1 billion of $206 bil-

its rose by 6.88 percent year-onyear from the P804.788-billion collection recorded from January to July 2023. Further, collections of sales taxes and licenses and other domestic taxes reached P520.569 billion and P133.641 billion, respectively.

Earlier, Lumagui also banked on the imposition of revenue stamps on vape products and its strict monitoring on the imports of illicit vape and cigarettes to drive BIR’s collections for the rest of the year. e national government targets to raise a total of P4.269 trillion in revenues with no new taxes to be imposed this year.

already been complying with the rules.

“Actually, we are late in the game—in collecting from our non-resident DSPs,” Asuncion said.

Finance Secretary Ralph G. Recto added the VAT on digital services is not a new tax mechanism, but a correction in the current VAT system that creates an unfair advantage to foreign digital service providers and weakens the country’s tax base.

“By doing this, we foster fairness, competition, and inclusion in our tax system and marketplace. Whether you are a local entrepreneur or a global giant, everyone will play by the same rules,” Recto added. Foreign digital service providers with gross sales or receipts for the past year that have exceeded P3 million are now required to register for VAT. They are also required to designate a representative o ce or agent—a resident corporation registered under Philippine law to assist in compliance with the provisions of the Tax Code. Non-compliant businesses will be temporarily suspended.

lion in year-one new FDI expenditures. In addition, early indications for 2024 suggest a possible slowdown in global greenﬁeld investment plans.”

forecast for PHL

and the structure of the economy. at neutral rate may move up or move down,” Saxegaard said. “In terms of our estimates of the neutral rate, it lies somewhere between 1 and 3 percent in real terms. So we would see the BSP gradually moving towards the neutral rate, but there’s really high uncertainty, so I wouldn’t want to pick a number,” she added.

IMF Resident Representative Ragnar Gudmundsson said the BSP also closely follows market surveys and is mindful of the need to anchor inﬂ ation expectations. Monetary policy decisions, Gudmundsson said, require a combination of market analysis and careful examination of available data.

“ ese are really the key factors that would guide those monetary policy decisions. We see that these data, these surveys are compatible with a reduction in rates, but this needs to be monitored so it’s very diﬃcult for us to chart the path of reductions,” Gudmundsson said. Overall, the IMF believes the Philippines holds signiﬁcant potential in growing the economy, particularly because of its natural resources, untapped blue economy, and its demographic dividend. Unlocking medium-term economic growth will be crucial in undertaking much-needed structural reforms. ese will pave the way for higher job generation, resilience to climate change, and reducing poverty and inequality.

He stressed, “Overall, we view the recent slowdown in global FDI as another manifestation of the rapid globalization of recent decades giving way to ‘slowbalization.’ Weaker FDI is part of a story that involves weaker trade, higher barriers to both trade and investment linked to geopolitics, and changes in policymakers’ attitudes to open trade as an engine of growth. Not all the factors behind the recent weakening of FDI are necessarily negatives for growth, but the general process of slobalization—[which includes a weaker FDI]—is. And the evidence suggests middle-income emerging economies might be the biggest losers.” Slater attributed the FDI downtrend to fi rst, rising barriers to trade and investments, significantly impacting countries such as mainland China, because of a more cautious United States. “In the second quarter 2024, Chinese inward FDI was negative for the second quarter in the last four, and the four-quarter average inflow was zero—compared to over US$100 billion in the fi rst quarter 2022...China appears to be becoming uninvestable for new FDI investors, even if survey evidence suggests most existing investors are staying put.” e second factor comprises the changes in global value chain trends with a “fl attening out of the previous upward trend in the geographical complexity of production,” owing to increasing protectionism.

“But some of it also reﬂects factors such as the rise of robotics, supply chain digitalization, and other market-based changes in industrial organization [e.g. a desire to be closer to markets],” he added. ird, dampening cross-border mergers and acquisitions (M&A) due to high interest rates also result in FDI slowdown around the world. “It’s likely that this rate rise has hit all forms of investment and that the drop in M&A volume is in part at least just a symptom of this rather than an independent factor hitting global investment and growth,” said Slater.

Remulla in Timor Leste; Pogos, Teves on agenda

JQuadCom head asks DOJ to file murder case vs Garma, Leonardo

By Jovee Marie N. dela Cruz @joveemarie

THE lead presiding officer of the House Quad Committee on Wednesday called on the Department of Justice (DOJ) to swiftly file murder charges against retired police colonels Royina Garma and Edilberto Leonardo for the ambush-killing of retired police general Wesley Barayuga in 2020.

the report of the joint committee, which will include a recommendation to file such charges. The panel will take time to write the report since the inquiry is still ongoing,” he said.

Barbers, who also chairs the House Committee on Dangerous Drugs, stressed that the DOJ should immediately file charges based on the witnesses’ testimonies and affidavits without waiting for the completion of the committee’s ongoing investigation and final report.

By Joel R. San Juan @jrsanjuan1573

USTICE Secretary Jesus Crisp -

in Remulla went on an official visit to Timor Leste on Tuesday to meet with President José Ramos Horta to discuss two important issues—the total ban on Philippine Offshore Gaming Operators (Pogo) in the country and the bid of the Philippine government to bring back former Negros Oriental congressman Arnolfo “Arnie” Teves Jr. to the Philippines to face the string of criminal cases filed against him.

In a statement, the Department of Justice (DOJ) said Remulla was tasked by President Marcos to talk with Ramos-Horta about the government’s ban on Pogo because of reports indicating that Timor Leste is one of the possible destinations where Pogo operations could transfer.

“Given the shared Catholic heritage and values of both the Philippines and Timor Leste, the Philippine government deemed it essential to inform Timor Leste of the potential socio-economic and security challenges posed by allowing Pogos to operate within its borders,” the DOJ said.

During their meeting, Remulla narrated to Timor Leste’s highranking officials the difficulties experienced by the Philippines during the tenure of Pogo operations, including issues related to crime, regulatory evasion, and potential threats to public safety that led to the imposition of total ban against Pogos.

“The visit served as an important channel to encourage Timor Leste to critically examine the broader implications of welcoming Pogos and how these activities might affect its domestic affairs,” the DOJ said.

Also discussed during the visit was the case of Teves, who is considered a fugitive following the issuance of a warrant of arrest against and the cancellation of his Philippine passport which stemmed from his alleged role in the killing of Negros Oriental Gov. Roel Degamo and several others last March 2023.

Aside from the Degamo et al murder case, Teves is also facing trial for the killing of three persons from March to June 2019 in Negros Oriental, violations of the Comprehensive Firearms and Ammunition Regulation Act, and violations of the Law on Explosives following the discovery of high-caliber weapons and ammunition in his family’s compound. The Anti-Terrorism Council has also tagged him as a terrorist resulting in the cancellation of his passport.

Teves went on medical leave in the United States a month prior to Degamo’s killing.

He was eventually tagged as the mastermind in the killing, prompting him to seek political asylum in Timor Leste.

During his meeting with Ramos-Horta, Remulla expressed the hope that the Timor Leste government would continue to cooperate in ensuring Teves’s return to the Philippines.

Remulla assured Timor Leste officials of the government’s adherence to due process.

“This case is about delivering justice under the rule of law and ensuring that those responsible for these heinous crimes are held accountable. We continue to respect the sovereignty and legal processes of Timor Leste, but we are steadfast in our resolve to pursue justice for the victims in the Philippines,” Remulla said.

Both Teves and Remulla’s camps have made conflicting claims with regard to the status of the former’s extradition.

Last August 28, 2024, the DOJ issued a statement claiming that the Timor-Leste’s appellate court has junked Teves’ motion for reconsideration of its decision granting the Philippines request to extradite Teves.

Remulla, in a statement released by the DOJ, even praised Timor Leste’s decision and described it as “a significant step forward” in the quest for justice.

However, the DOJ admitted last month that the extradition request would undergo “new proceedings.”

Teves’s lawyer Ferdinand Topacio denied the DOJ’s claim, saying that the Timor Leste’s CA had actually invalidated the Philippine government’s request for extradition and that a new trial will be conducted.

Aside from Pogos and Teves’s case, the DOJ said Remulla’s visit also touched on matters concerning national security, international cooperation and involved sensitive diplomatic exchanges that remain confidential to safeguard the integrity of the meeting.

“The discussions between the two governments demonstrated the shared commitment to fostering closer cooperation and addressing critical issues affecting both nations,” Remulla said.

Topacio, however, called on the DOJ to be transparent on the actual purpose of Remulla’s visit to Timor-Leste.

“What was the purpose of your visit to Timor Leste? If official, why was it not announced,” Topacio asked.

“The public has a right to know because of the public nature of Secretary Remulla’s office, because public funds may have been expended and because, if private funds were involved, that there may be a violation of the laws on public accountability,” he added.

Surigao del Norte Rep. Robert Ace Barbers urged the DOJ to interview two key witnesses from the recent hearing and assess their testimony.

The witnesses—police Lt. Col. Santie Mendoza of the National Police Drug Enforcement Group and Nelson Mariano, a drug informant—testified that Garma and Leonardo, both closely associated with former President Rodrigo Duterte, were involved in orches -

trating Barayuga’s assassination on July 30, 2020.

“We are in close coordination with the DOJ. They have representatives monitoring our hearings precisely because we are unearthing evidence of criminal activities and other acts of wrongdoing in the course of our inquiry. They should interview our two witnesses last Friday and assess their testimonies,” Barbers said.

“They do not have to wait for

During the recent Quad Committee hearing, Surigao del Sur Rep. Johnny Pimentel supported the recommendation to include charges against Garma and Leonardo in the committee report. Pimentel said that the testimonies clearly implicated the two former police officers in Barayuga’s assassination.

Mendoza testified that in October 2019, Leonardo, allegedly acting on Garma’s request, instructed him to carry out an “operation” against a target later identified as Barayuga.

In the context of the Duterte administration’s war on illegal drugs, Mendoza explained that “operation” meant assassination. Following orders from

Bombings delay repatriation of Pinoy workers in Lebanon

By Samuel P. Medenilla @sam_medenilla

THE spate of bombings in Lebanon has not only led to the displacement of Filipino workers in that country but also caused delay in their repatriation the Department of Migrant Workers (DMW) said on Wednesday.

Sixty-three Filipinos, who were staying at the Migrant Workers Offices (MWO) in Dahieh, in the Lebanese capital of Beirut, were transferred to a new location owing to attacks near the said facility during the weekend.

“All of the Filipinos were safe from the recent attacks and were immediately transferred to a hotel in Beit Mery, Lebanon, for temporary shelter at much safer grounds,” DMW in a statement said.

Aside from those who were transferred, another 16 overseas Filipinos are staying in the Beit Mery Hotel.

The recent explosions has led to the continued cancellation of outbound flights by major airlines in Lebanon, which led to the deferment in the repatriation of 15 Filipinos.

Owing to the suspension of commercial flights to Lebanon, the DMW is now eyeing the use of chartered aircraft as well as land and sea routes in the effort to bring home more than 100 distressed Filipino workers from high-risk

areas in the southern part of that country.

In a press briefing in Malacañang on Wednesday, Migrant Workers Undersecretary Bernard P. Olalia announced that the department will charter a flight to bring home the 111 Filipinos with exit permits, who are currently staying in four shelters in Lebanon.

They came from Southern Lebanon, which is the scene of intense clashes between Israeli troops and Hezbollah militants.

The chartered flight, which can accommodate about 300 passengers, will fly from Manila to Beirut.

“The supposed September 25 flight which will facilitate the repatriation of 15 of the workers did not push through because the flights were cancelled due to the conflict and as a consequence, we are trying to provide for chartered flight,” Olalia said.

If they are unable to secure the landing rights for the chartered flight, Olalia said the department will use sea and land routes to bring the Filipinos out of Lebanon.

“The land route going to Damascus is ready,” Olalia said. “Apart from that, as I said there is also a yacht—we are talking to some vessel owners,” he added.

He said the Filipino team needed to transfer the distressed Filipinos to the airport since many of the streets in Lebanon are littered

with debris and there is no available public transportation.

Aside from transportation problems, DMW said it is facing other challenges to bring home the distressed OFWs in terms of exit clearances since many of the government offices in Lebanon are closed.

There are 110 OFWs in Lebanon, who are still waiting for their pending exit clearances.

Olalia said they are also currently trying to convince employers to allow five to 10 Filipinos to flee Lebanon.

DMW deployed veteran labor attache Adam Musa, who helped in the mass repatriation in Libya in 2019, to augment the repatriation team in Lebanon.

Since last year, the government has been able to repatriate around 450 of the estimated 11,000 Filipinos from Lebanon. Most of the said Filipinos are staying in Beirut, which remains safe as of press time, Olalia said.

At least 430 Filipino workers and 28 dependents have been repatriated by the government since Israel started attacking Hezbollah forces in Lebanon last month.

The Department of Foreign Affairs (DFA) is currently studying the possibility of elevating the Alert Level in Lebanon to 4 or Mandatory Repatriation amid the escalating tension in the Middle East country.

DOTr chief to airport parking lot users: Give new rates a chance

By Lenie Lectura @llectura

TRANSPORTATION Secretary Jaime Bautista agrees that the new parking rates imposed by the New NAIA Infra Corp. (NNIC) will discourage nontravelers from using the airport parking lot meant for passengers. “If you look at it, the regular rates are not that high. Those who complain are

those who used it for overnight parking. The airport [parking lot] should not be used for overnight parking. It is supposed to be for the passengers,” Bautista said, party in Filipino. Effective October 1, NNIC imposed a minimal incrasee to P50 from P40 for the first two hours of parking. However, for overnight

his Philippine National Police Academy (PNPA) seniors, Mendoza enlisted Mariano to find a hitman named “Loloy.” Mariano corroborated Mendoza’s account, stating that an aide of Garma, referred to as “Toks,” provided him with realtime information on Barayuga’s movements on the day of the killing, including a photograph of Barayuga during a meeting at the Philippine Charity Sweepstakes Office (PCSO). Barayuga, who was then PCSO board secretary, was reportedly opposed to Garma’s plans to expand small-town lottery (STL) operations, including granting STL franchises to Garma’s allies and close associates of President Duterte. This opposition, according to Antipolo Rep. Romeo Acop, was the true motive behind Barayuga’s murder.

Barbers, meanwhile, urged the DOJ to obtain mobile phone evidence, including the Viber messages and photo linking Garma and Leonardo to the assassination, to strengthen the case. Mariano also testified that Toks handed him P300,000 as payment for the killing, further implicating the former police officers in the crime.

Imee: I chose to be free

By Justine Xyrah Garcia

her rejection of the Alyansa para sa Bagong Pilipinas’s nomination, Sen. Imee Marcos on Wednesday filed her certificate of candidacy (COC) for reelection under the Villar-led Nacionalista Party (NP), that is part of the administration coalition.

In a short press briefing after she filed her COC, Marcos said she begged off from her brother’s proposal to join the Alyansa because she does not want to close her door to “other sectors.”

“It’s better if I have no enemies—I don’t want that. I don’t want to tread two rivers; I’d rather be just one where everyone runs, so I can engage with all sectors and stand on my own,” the President’s elder sister said in Filipino.

Marcos explained that being part of an alliance often forces politicians to draw a line between allies and non-allies, a situation she prefers to avoid. Last week, it can be recalled that the President introduced his “Magic 12,” a slate of candidates representing a coalition from key political parties including the NP, Partido Federal ng Pilipinas, Lakas-CMD, National Unity Party, and National People’s Coalition.

“I chose to be free so I won’t have to align or oppose others. It’s very important to cross the line and engage with all sectors to get the work done,” the female Marcos said. She reassured the public that despite her withdrawal from the alliance, her relationship with her brother remains strong.

“My brother said it’s okay, he’ll still support me. We’ve never really fought or argued,” she said.

Endorsement from the VP? WHEN asked if she would welcome an endorsement from Vice President Sara Duterte, Marcos stated that they have yet to discuss the matter.

“I don’t know yet. What I’m asking for is the endorsement of everyone—I hope the support continues from all sides,” she said. Duterte, who leads the regional party Hugpong ng Pagbabago, previously mentioned that she is not ruling out the possibility of endorsing certain candidates for the upcoming midterm elections. However, she emphasized that her current priority is “to defend” the Office of the Vice President.

TIMOR-LESTE President José Ramos-Horta poses with Justice Secretary Jesus Crispin Remulla during the latter’s visit on Tuesday. Remulla discussed the effects of offshore gambling operations in a country as well as the Philippine’s request for the extradition of former Negros Oriental congressman Arnolfo Teves.

Thursday, October 3, 2024

New law seen to generate ₧100 billion in taxes

By Samuel P. Medenilla @sam_medenilla

THE government is expected to generate more than P100 billion in five years with the implementation of Republic Act 12023, signed by President Marcos on Wednesday, that imposes a 12 percent Value Added Tax (VAT) on non-resident digital service providers (DSP).

“This [revenue] is enough to build 42,000 classrooms or more than 6,000 rural health units or 7,000 kilometers of farm-to-market roads,” Marcos said during the ceremonial signing of the new law in Malacañang on Wednesday.

Once RA 12023 takes effect in 2025, the Department of Finance (DOF) and the National Tax Research Center expects the government to collect P7.25 billionin taxes during the first year of its implementation.

With the assumption that 70 percent of the covered establishments will comply with the VAT payments, DOF expects the collection to continue

to increase to in 2026 (P21.37 billion), 2027 (P22.81 billion), 2028 (24.42 billion) and 2029 (P26.27 billion).

The new law mandates that 5 percent of the incremental revenue will be used for the development of creative industries.

“Then the rest would go to the general fund, so it could go to any program in the GAA [General Appropriations Act,” DOF Director Euvimil Nina R. Asuncion said in a press briefing in Malacañang after the law’s signing.

Non-resident DSP

MARCOS stressed that the new legislation is not a new tax, but merely aims to level the playing field for digital transactions by mandating non-resident DSPs to pay VAT just like local DSPs.

“But make no mistake, we are not imposing new taxes, we are simply strengthening the authority and streamlining the process of the [Bureau of Internal Revenue] to collect value-added tax on digital services,” Marcos said.

Under RA 12023, digital media, digital music, digital video, digital advertising like those from Google and Facebook, online marketplace, and video-on-demand like Netlflix, Disney and HBO from non-resident DSPs.

It will not cover online seminars, online trainings accredited by the Department of Education (DepEd), Commission on Higher Education (CHED), and the Technical Education and Skills Development Authority (Tesda).

Also exempted are digital services from banks, non-bank financial intermediaries and other non-bank financial intermediaries.

Tax compliance

BIR Commissioner Romeo Lumagui Jr. said non-resident DSPs, which will fail to comply with the new law, will have their websites and platforms blocked by the Department of Information and Communication Technology (DICT) and also face penalties and surcharges.

“Our immediate solution is to block

them here and they will lose that revenues that they are generating from the Philippines and I think, that alone, will be sufficient [to compel] them to comply with the VAT on DSP since they will lose their large revenues here,” Lumagui said.

Asuncion said erring non-resident DPS will also face “reputational risk” resulting in even more revenue losses for them.

With the said deterrents, Lumagui is optimistic most non-resident DSPs will comply with RA 12023 similar when they started collecting VAT from local DSPs last July.

“Thousands [resident DSPs] have registered [with BIR]. So we are expecting that there will also be a good turnout,” Lamagui said.

All DSPs are required to register with BIR for VAT collection if their gross sales for the past 12 months have exceeded the P3 million threshold or if they have reasonable expectation that their gross sales will exceed the threshold.

DOTr. . .

Continued from A3

1 series of 2024 and approved through Cabinet Resolution 1, series of 2024.

This order, issued by the Manila International Airport Authority (MIAA) before NNIC assumed airport operations, is the result of a comprehensive review of fees for various regulated airport services.

NNIC said previous parking rates unintentionally encouraged misuse of the airport’s limited parking spaces. Many individuals, including those from nearby establishments and with no airportrelated business, were taking advantage of the low rates for overnight or long-term parking. This created parking shortage for actual passengers, adding to congestion and frustration.

The new rates will not only prioritize passengers but also reduce congestion and improve efficiency, NNIC said.

“The goal is to optimize parking for our passengers. While the previous rates may have been convenient for some, they created significant disadvantages for travelers. We believe these changes will

create a more efficient and passengerfriendly airport experience,” NNIC said. NNIC plans to increase parking capacity by building new facilities, starting with Terminal 3, which currently accommodates 65,000 to 68,000 passengers daily. Aside from parking fees, the passenger terminal fees will go up to P390 from P200 for domestic flights, and to P950 from P550 for international flights beginning next year. The said fees will increase in the sixth and eleventh year of the 15-year concession period, the Miaa earlier said.

Other upward adjustments include passenger service fees and the landing and take-off fees.

“Let’s give it a chance muna, siguro. The AO is part of the concession agreement. But, as I mentioned earlier, we can review it. The dialogue with other airlines, with other stakeholders….But passengers won’t mind paying a little bit more than what they are paying now if you have very good airport experience,” added Bautista.

He said all these changes will “not necessarily” lead to higher fares “because the airlines can absorb part of it.”

Bautista sees ‘significant’ transformation in aviation

By Lenie Lectura @llectura

RANSPORTATION

TSecretary Jaime Bautista on Wednesday said that the country’s aviation sector is “on the cusp of a significant transformation,” fueled by growing investors’ appetite. Apart from modernizing and upgrading the country’s major airports, such as the Nino Aquino International Airport (Naia), Bautista also cited improvements in country’s air navigation management system. Further upgrades and improvements in Communications, Navigation, Surveillance-Air Traffic Management (CNS ATM) systems will be undertaken next month with help from the Japan International Cooperation Agency (Jica).

With this, the Philippines can “finally catch-up on the significant under-investment in airport development over the years,” Bautista said. There are other airports that will be rehabilitated to increase in passenger capacity, while generating employment and tourist arrivals. These include those in Tuguegarao, Cagayan; Bacon, Sorsogon; Loakan, Baguio City; Daet, Camarines Sur; Cauayan, Isabela and Vigan City and Candon in Ilocos Sur. In the Visayas and Mindanao, airports up for improvement are those in Catbalogan, Samar; Dumaguete, Negros Oriental; Kabankalan, Negros Occidental and Calbayog, Samar as well as those in Zamboanga City; Mati, Davao Oriental M’lang, Cotabato; Jolo, Sulu; Siargao, Surigao del Norte and Tandag, Surigao del Sur.

ERC chief approves COCs, PAOs to boost power supply

NEWLY-DESIGNATED Officer-inCharge Chairperson and Chief Executive Officer (CEO) of the Energy Regulatory Commission (ERC)

Jesse Hermogenes T. Andres has approved hundreds of applications of power firms seeking clearance to operate their generation facilities.

In a statement, the ERC said Wednesday Andres signed a total of 414 Certificates of Compliance (COCs) and 101 Provisional Authorities to Operate (PAOs). These approvals are set to boost the capacities of generation facilities and improve the reliability and supply of electricity.

The ERC issues the COCs to entities to operate a power plant or other power generating facilities. Meanwhile, pending the issuance of a COC, the ERC issues PAOs to enable a generation company to immediately operate its generation facility.

The Commission also granted interim relief to Clark Electric Distribution Corporation (CEDC) and Shin Clark Power Corporation (SCPC), allowing them to implement their Sale for Resale Agreement (SRA). Granting the provisional authority will enhance the access of New Clark City,

EJAP,

a developing industrial hub in the Clark Special Economic Zone in Pampanga, to quality and reliable power service at affordable rates.

“There is an urgent need to expedite the evaluation and approval process of ERC so that rollout and expansion projects of private sector proponents can immediately be accomplished. This will expectedly increase capacities and efficiency in energy generation, transmission, distribution and supply sectors,” Andres said.

Andres also committed to engage with energy stakeholders as part of ERC’s efforts to ensure a level playing field and fair administration of regulation within the industry.

During his first flag-raising ceremony with the ERC last Monday, Andres echoed his earlier call for ERC’s officials and technical personnel to be loyal to the institution and to carry out their tasks expeditiously, emphasizing the ERC’s vital role in improving the quality of life for all Filipinos.

He also said there will be a review of regulatory processes to further streamline the workflow within the agency. Lenie Lectura

Aboitiz Power to hold first RE forum on October 4

THE Economic Journalists Association of the Philippines (EJAP), the country’s premier organization of business journalists, in partnership with Aboitiz Power Corp., will hold its maiden renewable energy forum. The EJAPAboitizPower Renewable Energy Forum is slated on October 4, Friday, at the Securities and Exchange Commission’s SecECenter in Makati City. The forum, with the theme “Powering A Sustainable Future”, aims to tackle government and private sector initiatives towards achieving the Philippines’ 35 percent renewable energy (RE) target by 2030 and 50 percent by 2050.

Securities and Exchange Commission

(SEC) Commissioner Javey Paul D. Francisco will deliver the opening remarks on behalf of SEC Chairman Emilio B. Aquino. Energy Secretary Raphael P.M. Lotilla, in his keynote address, will discuss the government’s move to create an attainable roadmap for the transition.

Energy Regulatory Commission

Director Sharon O. Montaner will share her insights on creating market opportunities for RE investments while Board of Investments Director Ernesto delos Reyes, Jr. will explain the role of the Green Lane to further catalyze investments.

“This forum will give stakeholders and regulators a platform to showcase the importance of implementing comprehensive and sustainable

SC affirms life sentence for couple who raped daughter

age,” the SC said.

Tsolutions to address the country’s power challenges, including the development of more RE resources,” EJAP President Neil Jerome Morales said.

AboitizPower Chief Engineering and Project Officer Rolando “Don” Paulino will discuss the role of power diversification towards achieving a balanced economic growth and energy security while First Gen Corp. Vice President for power marketing, trading and economic Carlos Lorenzo L. Vega will discuss why energy transition and decarbonization need multi-faceted solutions.

BDO Capital & Investment Corp. President Eduardo V. Francisco will also share the banking industry’s role in supporting initiatives to accelerate RE growth.

The EJAP-AboitizPower RE Forum is also supported by PetroGreen Energy Corp., Energy Development Corp., Vivant Corp., Blueleaf Energy Philippines, Meralco PowerGen Corp., National Grid Corp. of the Philippines and Citicore Renewable Energy Corp. Kris Crismundo, EJAP Vice-President for Internal and business reporter of the Philippine News Agency, will be the master of ceremonies, while Philippine Daily Inquirer Business Editor Tina ArceoDumlao will be the moderator of the panel discussion for the government speakers, and Daxim Lucas, founder and CEO of InsiderPH News, will facilitate the panel discussion involving the private sector.

By Joel R. San Juan @jrsanjuan1573

HE Supreme Court has affirmed the reclusion perpetua or life term without eligibility for parole imposed against spouses who raped their 14-year-old daughter in 2018.

In a 13-page decision written by Associate Justice Mario Lopez, the Court’s Second Division denied the plea of the spouses to reverse the ruling issued by the Regional Trial Court in Pangasinan and affirmed by the Court of Appeals (CA), which found them guilty of qualified rape.

Likewise, the SC upheld the trial court’s and CA’s award of P300,000 to the victim as civil, moral and exemplary damages.

“The Court stresses that

incestuous rape is not a simple criminal offense that can easily be fabricated, especially in this case where both parents are accused,” the SC said in denying the appeal of the victim’s parents.

“To our mind, a daughter like AAA262581 would not have imputed false allegations against her own parents, on whom she depends for support, were it not for her desire to seek justice and to stop the sexual abuse that she had to endure at a very young

The father is also facing other rape charges committed against the victim when she was already 18 years but were raffled off to another branch.

In her complaint, the victim narrated that on December 15, 2008, at around 10 p.m, her mother woke her up and told her to lie down beside her father.

Her mother then held both of her feet while her father went on top of her and raped her.

After the incident, her mother ordered her to go back to where she was sleeping.

The victim said she did not immediately report the incident to anyone because she was afraid of her father.

She eventually narrated her ordeal on May 29, 2017 to her mother’s sister who helped her report the matter to the police.

In a decision issued on April 20, 2022, the CA upheld the conviction of the victim’s parents, noting that the victim’s failure to immediately report the incident should not be taken against her.

The SC, in upholding the trial court and CA rulings, noted that the mother is liable for the crime as conspirator.

“A wife helping her husband rape another person is not new, and our jurisprudence is replete with cases of fathers raping their daughters,” the SC said.

“However, a mother helping her husband rape their own daughter is uncommon, it can still happen. Its inconceivability cannot reduce the credibility of the victim’s testimony nor make her words less true,” it added.

In its decision issued on February 1, 2019, the RTC in Pangasinan held that the victim’s testimony was “positive and straightforward” and that her claims were corroborated by her medico-legal report, which showed signs that she was raped. On the other hand, it ruled that the spouses’ defense of denial and alibi were weak and failed to overcome the victim’s credible testimony.

Julian picks up pace, moves toward S. Taiwan

By Jonathan L. Mayuga @jonlmayuga

TYPHOON Julian slightly accelerated n Wednesday afternoon as it moved towards Southern Taiwan, the weather bureau said.

In its 5:00 p.m. bulletin issued Wednesday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said Julian was spotted 275 km west northwest of Itbayat, Batanes, outside the Philippine Area of Responsibility (PAR).

The typhoon is packing maximum sustained winds of 165 kilometers per hour near the center and gustiness of

Imported

Iup to 205 kph and is moving northward at 15 kph.

Julian, however, will continue to induce rain until Thursday morning and will bring moderate to heavy rains in Batanes and Babuyan Island.

As the weather improves, the Civil Aviation Authority of the Philippines (CAAP) reported that clearing and cleaning operations are ongoing at the Basco Airport in preparation for the 7:00 a.m. to 3 p.m. flight operations on Thursday.

Coordination was made with concerned authorities in Basco for the possible opening of the airport for the military rescuers and other agencies to help Basco residents.

Meanwhile, the Tuguegarao Airport in Cagayan and Cauayan Airport in Isabela has resumed normal operation as of Wednesday afternoon.

Cebu Pacific flights already took off and landed safely in the said airports.

At the Palanan Airport, also in Isabela, flights remain suspended for light aircraft as a safety measure.

Flights in the said airports are suspended once Tropical Cyclone Wind Cignal 1 is declared by the weather bureau.

Basco and Itbayat airports remained closed, while there are no flights in Bagabag Airport in Nueva Vizcaya as of Wednesday.

According to the National

Disaster Risk Reduction and Management Council (NDRRMC) Julian, the 10th severe weather disturbance to visit the country this year, affected 43,093 families or 149,293 persons, with 646 families or 2,176 persons served inside 58 evacuation centers, and 921 families or 3,255 persons served outside evacuation centers. The inclement weather the past few days prompted the suspension of work and classes in affected areas, with 23 cities and towns having been declared under the state of calamity. There were no fatalities but the NDRRMC said eight persons were reported injured, with one missing.

rice arrivals as of Sept hits 3.19MMT

By Ada Pelonia @adapelonia

MPORTED rice that arrived in the Philippines hit nearly 3.2 million metric tons (MMT) as of late September, higher than last year’s import volume in the same period, according to data from the Bureau of Plant Industry (BPI).

Figures from the BPI showed that 3.19 MMT of imported rice reached Philippine ports by September 26, which was higher than the 2.68 MMT recorded during the reference period.

The country’s actual purchases of imported rice stood at 3.61 MMT in 2023, based on BPI data.

Assistant Secretary Arnel de Mesa said that following the trajectory of rice import arrivals, it would be possible to surpass the total imports recorded in the previous year.

“Most of the imports arrive during the last quarter so historically [and] statistically speaking, it might breach the

3.6 MMT last year,” de Mesa told reporters in a briefing on Wednesday.

Earlier, the United States Department of Agriculture (USDA) adjusted downward its estimate of the Philippines’s rice imports this year to 4.6 MMT from its previous forecast of 4.7 MMT on the back of slowing purchases of Vietnam rice.

However, the volume of rice shipments as of September 26 is less than half of what was covered by the sanitary and phytosanitary import clearances (SPSICs) issued by the attached agency of the Department of Agriculture (DA).

The BPI approved and issued 7,540 SPSICs for the purchase of 7.55 MMT of imported rice.

Rice importers are required to secure an SPSIC from the BPI before bringing in foreign rice stocks.

An SPSIC would certify that an inbound shipment is safe for human and animal consumption, and would not

bring in any pests that could be detrimental to the local agriculture sector.

Meanwhile, of the volume that arrived in the Philippines, over 2.52 MMT came from Vietnam, which maintained its status as the country’s top source of imports. Thailand was the second-largest supplier as it accounted for 407,996.74 metric tons (MT).

BPI data also showed that the Philippines imported rice from other countries like Pakistan (157,564.48 MT), Myanmar (73,727 MT), and India (22,039.04 MT). Bloomberg recently reported that India lifted its ban on non-basmati white rice shipments and set a minimum export price (MEP) of $490 per metric ton (MT).

Roehlano Briones, a senior research fellow at the Philippine Institute for Development Studies (PIDS) said this would “significantly” push down world and domestic rice prices. (See: https://businessmirror. com.ph/2024/10/01/india-

easing-of-rice-exports-tocool-down-global-prices/)

“[This] will significantly lower world and domestic prices. However, the MEP will put a floor on the decline of export price,” Briones told the BusinessMirror University of Asia and the Pacific’s Center for Food and Agribusiness (CFA) Executive Director Marie Annette Galvez-Dacul said that for the Philippines, India is a minor source of imports, which accounts for less than one percent of total imports.

“Considering that it is cheaper compared to Vietnam and Thailand, it can be an option for additional rice supply and import diversification,” she said.

Meanwhile, BPI data showed that BLY Agri Venture Trading led the 154 rice importers with a total volume of 220,146.99 MT. Orison Free Enterprise Inc. trailed behind with 177,395.45 MT followed by Macman Rice and Corn Trading with 143,998.30 MT.

Brief

in the assembly stages. Ensures compliance with safety procedures and quality standards. Searches for the most efficient technical solutions.

Brief

for the most efficient technical solutions.

Basic Qualification: Able to coordinate and interface between fabrication/installation and pre-fabrication activities. Able to speak and communicate using Mandarin language is an advantage. Must be willing to

Salary Range: Php 30,000 – Php 59,999

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Mandarin

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44.

45. FU, YUDONG Mandarin

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46. LI, WEI Mandarin Translator

Brief Job Description: The Mandarin Translator will be a strategist and a leader able to steer the

47. LI, XINYU Mandarin Translator

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48.

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49.

Brief

50. LIU, HUARONG Mandarin Deputy Project Manager

Brief Job Description: The Mandarin Deputy Project Manager will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

51. CHENG, ZHI Mandarin

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BusinessMirror

83. YUZAS MEGAWAN

Indonesian

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84. GURJINDER SINGH Translator (Indian Hindi)

Basic

Brief Job Description: Translate written documents, audio recordings, or spoken conversations accurately and efficiently from one language to another. Basic

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SCV TEXTILE TRADING,

85. HU, WANQING

Multilingual

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company or department is on track to achieve its financial objectives.

Basic Qualification: Bachelor’s degree is preferred. With 1-2 years of working experience. Fluent in Mandarin, Hindu, Arabic, and English languages, both written and verbal. Familiar in the field of import and export.

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86.

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88. BAO, DANDAN

89. CHEN,

Bilingual Construction Marketing Consultant

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90. DU, WANGZHU Bilingual

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GAO, FEI

Bilingual Construction Marketing Consultant

91.

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GAO, JIANAN Bilingual Construction Marketing Consultant

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93. GAO, WEI Bilingual Construction Marketing Consultant

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94. GAO, ZHAN Bilingual Construction Marketing Consultant

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137.

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138. ZHANG, XIAOMING Bilingual Construction Project Consultant

Brief Job Description: Assist with project management, cost, and schedule risk analysis.

SHELL SHARED SERVICES (ASIA) B.V.

16/f-25/f Solaris One Bldg., 130 Dela Rosa St., San Lorenzo, City Of Makati

139. EDIMO TIKY, ANNICK FABIENNE Customer Success Specialist – French Speaker

Brief Job Description: Manages customer experience, relationship, and satisfaction.

SINOTECH ASIA CONSTRUCTION INC.

Suite 102 Ground Flr. Sunset View Tower, Roxas Boulevard, Barangay 13, Pasay City

140. WANG, KE Managing Director

Brief Job Description: In charge of directing the company’s operations to make sure it achieves its objectives effectively and efficiently.

TAISEI CORPORATION – PHILIPPINE BRANCH OFFICE

Qualification: Able to assess, manage and resolve problematic developments and situations.

U-902 9f Bdo Equitable Tower, 8751 Paseo De Roxas, Bel-air, City Of Makati

141. SEWAKI, YUSUKE Manager, Civil Estimation Department

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TELUS INTERNATIONAL PHILIPPINES, INC.

144.

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SAID HOUSSEIN, SAID SOILIHI BAFAKIH

French Operations CSR IV

Brief Job Description: Provides expedient and accurate customer service to French speaking clients and customers. Addresses French customer concerns, queries, issues, complaints and/or places sales orders and product information requests. Prepares reports by accessing account database, analyzing the information contained and providing useful accurate and appropriate data.

UMBA, DANNY ILUNGA KALANGWA French Operations CSR IV

contained and providing useful accurate and appropriate data.

TOTAL GAMEZONE XTREME INCORPORATED (ACES N SPADES SPORTS BAR, GAMEZONE

XTREME AND ARENA PLUS) 2/f, Starmall, Edsa Cor. Shaw Boulevard, Wack-wack Greenhills, City Of Mandaluyong

146. TANG, ZHIXIANG Mandarin Frontend Developer Brief Job Description: Implementing visual and interactive design that the users will engage.

Israel, Iran edge closer to all-out war as military confrontation intensifies

By The Associated Press

THE Middle East moved closer to a long-feared regional war the day after Iran fired a barrage of missiles at Israel and Israel said it began limited ground incursions into Lebanon targeting the Iran-backed Hezbollah militia.

Israel said it intercepted many of the missiles, and officials in Washington said US destroyers assisted in Israel’s defense. Iran said most of its missiles hit their targets. There were no immediate reports of casualties.

Israeli Prime Minister Benjamin Netanyahu vowed late Tuesday to retaliate against Iran, which he said “made a big mistake tonight and it will pay for it.” An Iranian commander threatened wider strikes on infrastructure if Israel retaliates against Iran’s territory.

The United Nations Security Council called an emergency meeting for Wednesday to address the spiraling conflict. Israel and Hezbollah have trad -

ed fire across the Lebanon border almost daily since October 8, the day after Hamas’ cross-border attack on October 7, 2023, which killed 1,200 Israelis and took 250 others hostage. Israel declared war on the militant group in the Gaza Strip in response. More than 41,000 Palestinians have been killed in the territory, and just over half the dead have been women and children, according to local health officials.

Iran’s foreign minister claims the ballistic missile attack on Israel was an act of self-defense.

Abbas Araghchi made the comments in a television interview on Wednesday in Tehran. “We sent a message to the

American side through the Swiss Embassy suggesting them not to get involved in the story,” Araghchi said. “We will confront and answer any third party that enters any operation against us in support of the Zionist regime and we will have a crushing response.”

He also reiterated that Iran’s response to Israel will be “harsher” if Israel attacks Iran in response.

Top Iranian commander warns Israel MEANWHILE , a top Iranian military commander has warned that

his country will hit Israel’s infrastructure if it takes any action against its territory.

Iran’s armed forces joint chief of staff Gen. Mohammad Bagheri said Wednesday that the Revolutionary Guard was prepared both defensively and offensively to repeat its missile attack with “multiplied intensity.”

“If the Zionist regime, that has gone insane, is not contained by America and Europe and intends to continue such crimes, or do anything against our sovereignty or territorial integrity, tonight’s

operation will be repeated with much higher magnitude and we will hit all their infrastructure,” he said.

Bagheri said Iran avoided targeting Israeli civilians although it was “completely feasible.”

Israeli ambassador’s response ISRAEL’S UN ambassador says his government will decide when and how to respond to Iran’s barrage of close to 200 ballistic missiles that forced Israel’s 10 million population into bomb shelters. “But I can tell you one thing, it will be noticed,” he said.

“It will be painful.”

Danny Danon reacted to a statement from Iran’s U.N. Mission that any new Israeli action would be met with a “crushing response,” saying: “I would not advise Iran to challenge our determination, our capabilities. In the past, we have proved it. We will prove it again.”

“We have no desire for war or escalation, but we cannot sit idly by when our civilians are being attacked in such manner,” the Israeli ambassador said. “Iran used to send boxes but now, when they send almost 200 ballistic missiles, that’s something that I don’t think any other nation in the world will ignore.”

After pressing an Israel-Hezbollah cease-fire, the Biden administration shifts its message

By Matthew Lee & Lolita C. Baldor Associated Press

WASHINGTON—The Biden administration says there is a significant difference between Israeli actions that have expanded its war against the Iranian-backed militant groups Hamas and

Hezbollah and Iran’s retaliatory missile attack against Israel, which it condemned as escalatory.

In carefully calibrated remarks, officials across the administration are defending the surge in attacks by Israel against Hezbollah leaders in Lebanon, while still pressing for peace and vowing retribution after Iran fired about 200 ballistic missiles at Israel on

Tuesday.

President Joe Biden praised the US and Israel militaries for defeating the barrage and warned, “Make no mistake, the United States is fully, fully supportive of Israel.”

Secretary of State Antony Blinken called the Iranian missile attack “totally unacceptable, and the entire world should condemn it.”

There was little criticism that Israel may have provoked Iran’s assault. “Obviously, this is a significant escalation by Iran,” national security adviser Jake Sullivan said.

Just a week after calling urgently for an immediate cease-fire between Israel and Hezbollah to avoid the possibility of all-out war in the Middle East, the administration has shifted its message as Israel presses ahead with ground incursions in Lebanon

following a massive airstrike Friday in Beirut that killed Hezbollah leader Hassan Nasrallah and Iranian Revolutionary Guard Gen. Abbas Nilforushan.

US officials stress that they have repeatedly come out in support of Israel’s right to defend itself and that any change in their language only reflects evolving conditions on the ground. And, officials say the administration’s goal—a cease-fire—has remained constant.

The US has been quick to praise and defend Israel for a series of recent strikes killing Hezbollah leaders. In contrast to its repeated criticism of Israel’s war in Gaza that has killed civilians, the US has taken a different tack on strikes that targeted Nasrallah and others but also may have killed innocent people.

At the Pentagon, Maj. Gen. Pat Ryder

Oil extends surge as Israel vows retaliation after Iranian assault

By Yongchang Chin & Weilun

OIL rose for a second day after Iran fired about 200

at Israel, drawing a vow of retaliation from Prime Minister Benjamin Netanyahu and raising the risks to crude supplies from the region. Global benchmark Brent climbed above $74 a barrel, after

made it clear that while the US is still “laser focused” on preventing a wider conflict in the Middle East, he carved out broad leeway for Israel to keep going after Hezbollah to protect itself.

“We understand and support Israel’s right to defend itself against Hezbollah,” Ryder said. “We understand that part of that is dismantling some of the attack infrastructure that Hezbollah has built along the border.”

He said the US is going to consult with Israel as it conducts limited operations against Hezbollah positions along the border “that can be used to threaten Israeli citizens.” The goal, he said, is to allow citizens on both sides of the border to return to their homes.

The Associated Press writer Tara Copp in Washington contributed to this report.

actual interruptions to oil output. Iran pumped about 3.4 million barrels a day in August, according to Opec.

While many participants have “faded the risk” of supply disruptions, energy infrastructure could become a target for either side, RBC Capital Markets LLC said in a note. Iran’s Kharg Island export facilities could be a target, and Tehran and its proxies could attack energy operations “to internationalize the cost if the current crisis devolves into an all-out war,” it said.

Tensions in the Middle East have increased markedly after the killing of Hezbollah’s chief, Hassan Nasrallah, last week. Israel bombed the center of Beirut on Monday and its troops have begun what it called “targeted ground raids” in Lebanon. Hezbollah is backed by Tehran. After Tuesday’s missile salvo, Iran’s Foreign Minister Abbas Araghchi said that his country’s action was concluded unless Israel “decides to invite further retaliation,” according to a post on X. In Israel, Netanyahu said Iran had made a big mistake, “and it will pay for it.”

Iran and Israel exchanged attacks earlier this year, with Tehran firing a barrage of missiles and drones in April that was flagged in advance and caused little damage. It was followed a few days later by a limited, retaliatory Israeli strike against Iran. That week, oil ended more than 3 percent lower. Bloomberg News

THIS image taken from video shows projectiles being intercepted over Jerusalem, Israel on Tuesday, October 1, 2024. AP

Palestinian officials say 51 killed in Israeli strikes on southern Gaza

By Wafaa Shurafa & Samy Magdy The Associated Press

DEIR AL-BALAH, Gaza Strip—

Gaza’s Health Ministry says at least 51 people have been killed and another 82 wounded in a large Israeli air and ground operation in the southern city of Khan Younis.

Israel’s military has yet to comment on the operation, which began early Wednesday. Palestinian residents say ground forces pushed into three neighborhoods.

Israel has continued to strike what it says are militant targets across Gaza nearly a year after Hamas’ October 7 attack ignited the war, even as attention has shifted to Lebanon, where Israel has launched ground operations against Hezbollah, and to Iran, which launched a ballistic missile attack on Israel late Tuesday.

In a separate development, Hezbollah said its fighters clashed with Israeli troops in the Lebanese border town of Odaisseh, forcing them to retreat.

There was no immediate comment from the Israeli military or independent confirmation of the incident, which would mark the first ground combat since Israeli troops crossed the border this week. Israeli media reported infantry and tank units operating in southern Lebanon after the military sent thousands of additional troops and artillery to the border.

The military warned residents to evacuate another 24 villages in

southern Lebanon after making a similar announcement the day before. Hundreds of thousands have already fled their homes as the conflict has intensified.

Palestinians describe massive raid in Gaza

THE European Hospital in Khan Younis said it received the bodies after heavy Israeli airstrikes and ground operations in the city. Hospital records show that seven women and 12 children as young as 22 months old were among those killed.

Another 19 people, including two children, were killed in separate strikes late Tuesday in central Gaza, according to hospitals there that received the bodies.

The Israeli military did not immediately respond to a request for comment.

Residents said Israel had carried out heavy airstrikes as its ground forces staged an incursion into three neighborhoods in Khan Younis. Mahmoud al-Razd, a resident who said four relatives were killed in the raids, described heavy destruction and said first responders had struggled to reach destroyed homes.

“The explosions and shelling were massive,” he told The Associated Press. “Many people are thought to be under the rubble and no one can retrieve them.”

Israel carried out a weekslong offensive earlier this year in Khan Younis that left much of Gaza’s second largest city in ruins. Over the course of the war, Israeli forces have repeatedly returned to areas of Gaza where they have previously fought Hamas and other armed groups as the militants have regrouped.

Hamas-led militants killed some 1,200 people, mostly civilians, on October 7 and took around 250 hostage. Around 100 are still in captivity in Gaza, a third of whom are believed to be dead.

Israel’s retaliatory offensive has killed over 41,000 Palestinians, according to local health authorities, who do not say how many were fighters but say a little

more than half were women and children. The military says it has killed over 17,000 militants, without providing evidence.

Iran fires missiles to avenge attacks on militant allies IRAN launched at least 180 missiles into Israel on Tuesday in what it said was retaliation for a series of devastating blows Israel has landed in recent weeks against Hezbollah, which has been firing rockets into Israel since the war in Gaza began.

Israelis scrambled for bomb shelters as air raid sirens sounded and the orange glow of missiles streaked across the night sky.

The Israeli military said it intercepted many of the incoming Iranian missiles, though some landed in central and southern Israel and two people were lightly wounded by shrapnel.

Several missiles landed in the Israeli-occupied West Bank, where

one of them killed a Palestinian worker from Gaza who had been stranded in the territory since the war broke out.

Israeli Prime Minister Benjamin Netanyahu vowed to retaliate against Iran, which he said “made a big mistake tonight and it will pay for it.”

President Joe Biden said his administration is “fully supportive” of Israel and that he’s in “active discussion” with aides about what the appropriate response should be.

Iran said it would respond to any violation of its sovereignty with even heavier strikes on Israeli infrastructure.

Hezbollah and Hamas are close allies backed by Iran, and each escalation has raised fears of a wider war in the Middle East that could draw in Iran and the United States, which has rushed military assets to the region in support of Israel.

Iran said it fired Tuesday’s missiles as retaliation for attacks that killed leaders of Hezbollah, Hamas and the Iranian military. It referenced Hezbollah leader Hassan Nasrallah and Revolutionary Guard Gen. Abbas Nilforushan, both killed in an Israeli airstrike last week in Beirut. It also mentioned Ismail Haniyeh, a top leader in Hamas who was assassinated in Tehran in a suspected Israeli attack in July.

The UN Security Council scheduled an emergency meeting for Wednesday morning to address the escalating situation in the Middle East.

Israel says its forces are operating in Lebanon Is RAEL is meanwhile carrying out what it says are limited

ground incursions into southern Lebanon. Israeli airstrikes and artillery have been pounding southern Lebanon as Hezbollah fires dozens of rockets, missiles and drones into Israel, where there have been few casualties. Israel has said it will continue to strike Hezbollah until it is safe for tens of thousands of its citizens displaced from homes near the Lebanon border to return. Hezbollah has vowed to keep firing rockets into Israel until there is a cease-fire in Gaza with Hamas.

Israel has warned people in southern Lebanon to evacuate to the north of the Awali River, some 60 kilometers (36 miles) from the border and much farther than the Litani River, which marks the northern edge of a UN-declared zone intended to serve as a buffer between Israel and Hezbollah after their 2006 war. The border region has largely emptied out over the past year as the two sides have traded fire.

Israeli strikes have killed over 1,000 people in Lebanon over the past two weeks, nearly a quarter of them women and children, according to the Health Ministry. Hundreds of thousands have fled their homes.

Hezbollah is a widely seen as the most powerful armed group in the region, with 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, and both sides have spent the past two decades preparing for their next showdown.

Magdy reported from Cairo. Associated Press writers Kareem Chehayeb in Beirut and Melanie Lidman in Tel Aviv, Israel contributed.

Helene death toll rises to 166 as Biden heads to Carolinas to survey hurricane’s destruction

By Erik Verduzco, Jeff Amy & Kimberlee Kruesi

The Associated Press

SWANNANOA, N.C.—President Joe Biden will survey the devastation in North and South Carolina on Wednesday as rescuers continue their search for anyone still unaccounted for after Hurricane Helene caused catastrophic damage across the Southeast and killed at least 166 people. Many residents in both states were still without running water, cellular service and electricity as floodwaters receded and revealed more of the death and destruction left in Helene’s path.

“We have to jump start this recovery process,” Biden said Tuesday, estimating it will cost billions. “People are scared to death. This is urgent.”

While Biden is in the Carolinas, Vice President Kamala Harris will be in neighboring Georgia.

Helene, one of the deadliest storms in recent US history, knocked out power and cellular service for millions. More than 1.2 million customers still were in the dark early Wednesday in the Carolinas and Georgia. Some residents cooked food on charcoal grills or hiked to high ground in the hopes of finding a signal to let loved ones know they are alive.

On Tuesday, cadaver dogs and search crews trudged through knee-deep muck and debris in the mountains of western North Carolina looking for more victims. At least 57 people were killed in Buncombe County alone, home to city of Asheville, a tourism haven known for its art galleries, breweries and outdoor activities.

In Swannanoa, a small community outside Asheville, receding floodwaters

revealed cars stacked on top of others and trailer homes that had floated away during the storm. Roads were caked with mud and debris and pockmarked by sinkholes.

Cliff Stewart survived two feet of water that poured into his home, topping the wheels on his wheelchair and sending his medicine bottles floating from room to room. Left without electricity and reliant on food drop-offs from friends, he has refused offers to help him leave.

“Where am I going to go?” the Marine Corps veteran said. “This is all I’ve got. I just don’t want to give it up, because what am I going to do? Be homeless? I’d rather die right here than live homeless.”

“Communities were wiped off the map,” North Carolina Gov. Roy Cooper said at a news conference.

Across the border in East Tennessee, a caravan including Gov. Bill Lee surveying damage outside the town of Erwin drove by a crew pulling two bodies from the wreckage, a grim reminder that the rescue and recovery operations are still very much ongoing and the death toll is likely to rise. In Augusta, Georgia, Sherry Brown was converting power from the alternator of her car to keep her refrigerator running. She has been taking “bird baths” with water collected in coolers. In another part of the city, people waited in line more than three hours to get water from one of five centers set up to serve more than 200,000 people. What is being done to help?

EXHAUSTED emergency crews worked around the clock to clear roads, restore power and phone service, and reach those still stranded by the storm, which killed at least 166 people in six states, including many who were hit by falling trees or

trapped in flooded cars and homes. Nearly half of the deaths were in North Carolina, while dozens of others were in South Carolina and Georgia.

More than 150,000 households have registered for assistance with the Federal Emergency Management Agency, and that number is expected to rise rapidly in the coming days, said Frank Matranga, an agency representative.

Nearly 2 million ready-to-eat meals and more than a million liters of water have been sent to the hardest-hit areas, he said.

The storm unleashed the worst flooding in a century in North Carolina, dumping more than 2 feet (61 centimeters) of rain in places.

Cooper’s administration said Tuesday that more than two-dozen water plants remained closed. Active-duty US military units may be needed to assist the long-term recovery, he said, adding that Biden had given “the green light” to mobilizing military assets soon.

A section of one of the region’s main arteries, Interstate 40, reopened Tuesday after a mudslide was cleared, but a collapsed

stretch near North Carolina’s border with Tennessee remained closed.

How some of the hardest-hit areas are coping

Residents and business owners wore masks and gloves while clearing debris Tuesday in Hot Springs, North Carolina, where almost every building along the tiny town’s main street was heavily damaged.

Sarah Calloway, who owns the deli and gourmet grocery Vaste Riviere Provisions, said the storm arrived in town frighteningly quickly. She helped fill sandbags the day the night before, but they turned out to be useless. The water rose so rapidly that even though she and others were in an apartment on an upper floor, she feared they would not be safe. They called to request a rescue from a swift water team.

“They tried to get to us, and at that point they couldn’t,” she said. “Luckily, that was when the water started to recede.”

“It was really challenging to watch how quickly it rose up and then just to watch whole buildings floating down the river.

It was something I can’t even describe,” she said.

In the Black Mountain Mobile Home Park in Swannanoa on Tuesday, Carina Ramos and Ezekiel Bianchi were overwhelmed by the damage. The couple, their children and dog fled in the predawn darkness on Friday as the Swannanoa River’s rapidly rising waters began flooding the bottom end of the park.

By then, trees were blocking the roads and the couple abandoned their three vehicles, all of which flooded.

“We left everything because we were panicking,” Ramos said. Their children were staying with Ramos’ parents and did not want to even see the devastated trailer.

“My daughter was crying, panicking,” Ramos said. “She says she doesn’t want to see her room full of toys, all thrown everywhere.”

Mobile service knocked out

THE widespread damage and outages affecting communications infrastructure left many people without stable access to the Internet and cellular service.

Mayor Zeb Smathers of Canton, North Carolina, expressed frustration Tuesday that so many of his constituents were still without cell service and given no clear timetable for when it would be restored.

“People are walking the streets of Canton with their phones up in the air trying to catch a cellphone signal like it’s a butterfly,” he told The Associated Press. “Every single aspect of this response has been extremely crippled by lack of cellphone communication. The one time we absolutely needed our cellphones to work they failed.”

Teams from Verizon were working to repair downed cell towers, damaged fiber

cables and provide alternative forms of connectivity across the region, the company said in a statement.

AT&T, meanwhile, said it launched “one of the largest mobilizations of our disaster recovery assets for emergency connectivity support.” The efforts to restore service was made more challenging by the region’s terrain and spread-out population, said David Zumwalt, president and CEO of the Association for Broadband Without Boundaries.

Destruction from Florida to Virginia HELENE blew ashore in Florida late Thursday as a Category 4 hurricane and upended life throughout the Southeast, where deaths were also reported in Florida, Tennessee and Virginia.

Across Georgia, Helene’s inland path knocked out power and shattered lives from Valdosta to Augusta, where a line of cars waiting to get water Tuesday stretched at least a half-mile (0.8 kilometers) down the road.

“It’s been rough,” said Kristie Nelson, who had no idea when her electricity would be restored.

“I’m just dying for a hot shower.”

With at least 36 killed in South Carolina, Helene passed the 35 people who were killed in the state after Hurricane Hugo made landfall north of Charleston in 1989.

Kruesi reported from Hampton, Tennessee. Contributing to this report were Associated Press journalists Gary D. Robertson in Raleigh; Jeffrey Collins in Augusta, Georgia; John Raby in Charleston, West Virginia; Rebecca Santana in New Orleans; Shawn Chen in New York; Colleen Long in Washington and John Seewer

Ohio.

AN Israeli mobile artillery unit fires a shell from northern Israel towards Lebanon on Wednesday, October 2, 2024. AP/BAZ RATNER

in Toledo,

CINDY WHITE looks over the devastation inside her home caused by Hurricane Helene on Tuesday, October 1, 2024, in Morganton, N.C. The adjacent Catawba River flooded due to the torrential rains destroying seven of family’s nine homes on the property. AP/KATHY KMONICEK

Mexico swears in Claudia Sheinbaum as first female president amid high hopes and looming challenges

By Fabiola Sánchez & Mariana Martínez Barba The Associated Press

MEXICO CITY—Claudia

Sheinbaum was sworn in Tuesday as Mexico’s first female president, riding the enthusiasm over her predecessor’s social programs but also facing challenges that include stubbornly high levels of violence.

After a smiling Sheinbaum took the oath of office on the floor of Congress, legislators shouted “Presidenta! Presidenta!” using the feminine form of president in Spanish for the first time in over 200 years of Mexico’s history as an independent country.

The 62-year-old scientistturned-politician receives a country with a number of immediate problems, also including a sluggish economy, unfinished building programs, rising debt and the hurricane-battered resort city of Acapulco.

In her inauguration speech, Sheinbaum said that she came to power accompanied by all of the women who have struggled in anonymity to make their way in Mexico, including “those who dreamed of the possibility that one day no matter if we were born as women or men we would achieve our dreams and desires without our sex determining our destiny.”

She made a long list of promises

to limit prices for gasoline and food, expand cash handout programs for women and children, support business investment, housing and passenger rail construction. But any mention of the drug cartels that control much of the country was brief and near the end of the list.

Sheinbaum offered little change from former President Andrés Manuel López Obrador’s ‘Hugs not Bullets’ strategy of addressing root causes and not confronting the cartels, apart from pledging more intelligence work and investigation. “There will be no return to the irresponsible drug war,” she said.

Sheinbaum romped to victory in June with nearly 60 percent of the vote, propelled largely by the sustained popularity of her political mentor, López Obrador. She has pledged to continue all his policies, even those that strengthened the power of the military and weakened the country’s checks and balances.

After the inauguration, Sheinbaum appeared at a mass rally in Mexico City’s colonial-era main plaza to participate in a ceremony involving an all-women committee representing Mexico’s approximately 70 Indigenous groups.

Sheinbaum was blessed and brushed with herbs and incense by Ernestina Ortiz, a “spiritual guide,” who told Sheinbaum “You are a voice for all of us who had no voice for a long time.” An Indigenous elder then handed Sheinbaum a wooden Indigenous “staff of authority,” like those carried by community leaders.

After the ceremony, Sheinbaum said she would push for a total ban on any public servant being re-elected to office—a tall promise, given that her party has now passed a law making all judges stand for election. That would suggest Mexico may have a new crop of inexperienced judges every few years.

Lucía Ruíz, a 42-year-old mother of three, was one of thousands trying to reach the main square to see the rally. She said she hopes Sheinbaum will be able to combat high rates of violence against women in the country.

“She is going to represent us,” said Ruíz. “We have always been governed by men, and they think we’re incapable, but we’re not. We are the head of our families.”

López Obrador took office six years ago declaring “For the good of all, first the poor,” and promising historical change from the neoliberal economic policies of his predecessors. Sheinbaum promised continuity from his

popular social policies to controversial constitutional reforms to the judiciary and National Guard rammed through during his final days in office.

Despite her pledge of continuity, Sheinbaum is a very different personality: a cautious scientist and ideological university leftist, as opposed to the outgoing president’s chummy, everyman appeal.

“López Obrador was a tremendously charismatic president and many times that charisma allowed him to cover up some political errors that Claudia Sheinbaum will not have that possibility of doing,” said Carlos Pérez Ricart, a political analyst at Mexico’s Center for Economic Research and Teaching.

“So, where López Obrador was charismatic, Claudia Sheinbaum will have to be effective.”

She will wield formidable power because López Obrador’s Morena party controls both houses of Congress. But the country remains deeply polarized between the outgoing president’s fanatic fans and almost one-third of the population who deeply resent him.

“If we want a strong government, the checks and balances also have to be strong,” said opposition Sen. María Guadalupe Murguía, suggesting that an all-powerful army and unchecked ruling party could come back to haunt Mexico. “Remember,” she said, “nobody wins everything, and nobody loses forever.”

Sheinbaum is not inheriting an easy situation.

Drug cartels have strengthened their hold over much of Mexico, and her first trip as president will

be to the Pacific coast resort of Acapulco, which was flooded last week by Hurricane John, which killed at least 17 people along the coast around the resort. Acapulco was devastated in October 2023 by Hurricane Otis, and had not recovered from that blow when John hit.

Sheinbaum must also deal with raging violence in the cartel-dominated northern city of Culiacan, where factional fighting within the Sinaloa cartel broke out after drug lords Ismael “El Mayo” Zambada and Joaquín Guzmán López were apprehended in the United States after they flew there in a small plane on July 25.

López Obrador has long sought to avoid confronting Mexico’s drug cartels and has openly appealed to the gangs to keep the peace among themselves, but the limitations of that strategy have become glaringly apparent in Culiacan, the capital of Sinaloa state, where gun battles have raged on the city’s streets. Local authorities and even the army—which López Obrador has relied on for everything—have essentially admitted that the fighting will only end when the cartel bosses decide to end it.

But that’s only the latest hotspot.

Drug-related violence is surging from Tijuana in the north to Chiapas in the south, displacing thousands.

While Sheinbaum inherits a huge budget deficit, unfinished construction projects and a burgeoning bill for her party’s cash hand-out programs—all of which could send financial markets

tumbling—perhaps her biggest looming concern is the possibility of a victory for Donald Trump in the November 5 US presidential election.

Trump has already vowed to slap 100 percent tariffs on vehicles made in Mexico. Though that would likely violate the current US-Mexico-Canada trade agreement, there are other things Trump could do to make life difficult for Sheinbaum, including his pledge of massive deportations.

Relations with Mexico’s northern neighbor were already tense after López Obrador said he was putting relations with the US embassy “on pause” after public criticism of the proposed judicial overhaul.

At her inauguration, Sheinbaum boosted the free trade agreement with the United States and Canada, saying “we know that economic cooperation strengthens the three nations.”

There are areas where Sheinbaum could try to take Mexico in a new direction. For example, she has a Ph.D. in energy engineering and has spoken of the need to address climate change.

But on Tuesday, she said she would cap oil production at 1.8 million barrels per day, which would be more than what the troubled state-owned company currently produces. “We are going to promote energy efficiency and the transition toward renewable sources of energy,” she said.

The Associated Press writers María Verza, Megan Janetsky and Mark Stevenson in Mexico City contributed to this report.

New Japanese PM pledges to strengthen US alliance, address economic challenges

By Mari Yamaguchi The Associated Press

TOKYO—Japan’s new Prime Minister Shigeru Ishiba pledged to stick to the vital Japan-US alliance while calling for it to be more equitable after he took office Tuesday vowing to tackle a slow economy and regain public trust before an upcoming election.

Shigeru Ishiba replaced Fumio Kishida, who stepped down to pave the way for a fresh leader after scandals dogged his government.

In a show of Japan’s respect to its most important ally, the United States, Ishiba spoke by telephone with President Joe Biden early Wednesday and told reporters he reassured Biden of his plan to further strengthen the Japan-US alliance that Biden and Kishida have significantly elevated.

His new Cabinet emphasizes

defense and a majority of its members, including Ishiba himself, are unaffiliated with factions led and controlled by Liberal Democratic Party heavyweights, and none is from the late Shinzo Abe’s faction that has been linked to damaging misconduct.

Speaking to reporters at the prime minister’s office for the first time following a palace ceremony, Ishiba called for stronger military cooperation with like-minded partners. He has been vocal about his wish to form a NATO-like alliance in the region.

He said that one of his policy’s main goals was to protect Japan as “the security environment surrounding us is the toughest since the end of World War II.”

Ishiba renewed his proposal of a more equal Japan-US security alliance, including joint management of US bases in Japan and having Japanese bases in the

United States, which would require changes to a bilateral forces agreement. He called the current alliance “asymmetrical.”

“The measure would contribute to further strengthen the JapanUS alliance,” Ishiba said. “I’ve advocated the idea for more than 20 years and obviously it’s not going to happen suddenly just because I became prime minister.” He also said he hadn’t assigned the matter to his Cabinet as an urgent task. “But I will not give up and will steadily work on it.”

He said Wednesday that he did not raise the issue on his call with Biden but would find the chance to do so later.

Ishiba said he told Biden that he will strengthen Kishida’s defense and diplomatic policies while bolstering networks that include South Korea and other like-minded countries. Japan’s national security strategy adopted

by Kishida’s government in 2022 calls for accelerating a Japanese military buildup.

Ishiba earlier said he would call for a snap election on October 27 and named former Environment Minister Shinjiro Koizumi to head the party’s election task force. On Tuesday, he said he intended to dissolve the lower house on October 9 so his new administration could obtain “the people’s verdict” as soon as possible. During Tuesday’s parliament session, opposition leaders criticized Ishiba for announcing such a plan before even becoming prime minister and allowing only several days for his policies to be examined and discussed before a national election. They delayed the vote required to approve his new post for about half an hour, despite not having the power to affect it, signaling a rocky beginning for Ishiba.

Banana exporters pin hopes on FTA with UAE

By Andrea E. San Juan @andreasanjuan

LOCAL banana exporters are hoping that the Philippines’s trade deal with the United Arab Emirates (UAE) will allow them to regain their market share in the Middle Eastern country.

Yvette Asunto of the Philippine Banana Growers and Exporters Association (PBGEA) raised the market access concern of banana exporters during the stakeholder consultation for the PhilippinesUAE Comprehensive Economic Partnership Agreement (CEPA) on Wednesday.

“In 2021, our market share in UAE is 83 percent. Last year, it’s down to 8.2 percent,” Asunto said, adding that Ecuador is now dominating the UAE market for bananas.

“I don’t know if Ecuador is now enjoying zero [tariffs] but since they have secured our market, most likely bananas from Ecuador are imported at zero tariffs.”

She said, however, that bananas from the Philippines enter the UAE at zero tariffs.

“Actually, we’re now the third top exporter in UAE. Ecuador is number 1 while India is number 2.”

For his part, Trade Undersecrtary Allan B. Gepty said the Philippine trade negotiating team will look into the competitiveness of bananas in UAE.

“So basically, I think we checked

Group: Penalize traders for unused rice import permits

TBy Ada Pelonia @adapelonia

HE government should penalize traders who will fail to use their rice import clearances, the Philippine Chamber of Agriculture and Food Inc. (PCAFI) said Wednesday.

PCAFI issued the statement after the Bureau of Plant Industry (BPI) recently released a report which indicated that the agency improved and issued 7,540 sanitary and phytosanitary import clearances (SPSICs) for the purchase of 7.55 million metric tons (MMT) of imported rice.

However, data from the attached agency of the Department of Agriculture (DA) showed that only 3.19 MMT of imported rice reached Philippine ports as of September 26.

“I think the traders that were given SPSICs who do not (use)

the import permit that they were [given] should be penalized by collecting penalties for the unused permits,” PCAFI

President Danilo Fausto told the BusinessMirror

“This will discourage traders from speculating, manipulating, and taking advantage of price fluctuations (profiteering) to the disadvantage of consumers and farmer producers.”

Agriculture Secretary Francisco Tiu Laurel Jr. earlier signed Memorandum Circular (MC) 35 which urged rice traders to “fully utilize” their applied SPSICs.

“The actual product/consignment must be shipped out within 60 days from the date the SPSIC is issued, regardless of the country of origin. This shipment is still subject to plant quarantine procedures at the port of entry upon arrival,” the circular read.

It added that traders may face

sanctions and penalties for noncompliance.

“Low or no utilization of SPSICs may result in sanctions and penalties in accordance with the guidelines as this can create discrepancies in the forecasting being done in relation to the availability of rice supply.”

Rice importers are required to secure an SPSIC from the BPI before bringing in foreign rice stocks.

An SPSIC would certify that an inbound shipment is safe for human and animal consumption and would not bring in any pests that could be detrimental to the local agriculture sector.

Reasons

MEANWHILE , Laurel said a number of factors would account for the nonuse of the import clearances issued by the government.

For one, the lack of ships and

tropical storms discouraged traders who will have to comply with the directive of the government to bring in rice within a prescribed period.

“When there is news that tariffs will decline, importers put on hold their importation plans. So, they reapply after their SPSICs expire,” the DA chief told the BusinessMirror.

“Then when there was a tender from Indonesia and Malaysia. There were Vietnamese suppliers who canceled contracts to try to get a better price so traders were not able to use their SPSICs.”

Executive Order 62 signed by President Ferdinand Marcos Jr., which reduced the tariff on rice to 15 percent from 35 percent, took effect in July.

“Basically, because (rice) is liberalized, we cannot really stop anyone from applying for an import permit,” Laurel said.

NFA to earn ₧557M from sale of rice to govt agencies

THE National Food Authority (NFA) is set to rake in P557.3 million in additional revenues from the hike in the price of rice sold to other agencies.

The NFA Council chaired by Agriculture Secretary Francisco Tiu Laurel Jr. earlier approved an increase in the selling price of rice to P38 a kilo from P25 per kilo to the Department of Social Welfare and Development (DSWD) and other government agencies.

“The higher selling price agreed to by the DSWD will help not only reduce NFA losses but also give it additional resources to buy more palay from our farmers,” Laurel said in a statement.

In 2023, NFA said it posted a net

loss of P6.19 billion as it pursued its mandate to buy palay from local farmers to build a 9-day buffer stock of about 300,000 metric tons (MT) of rice.

NFA administrator Larry Lacson said the additional revenue would allow the grains agency to buy more palay from farmers that would boost the government corporation’s rice buffer and increase farmers’ income.

“At a buying price of P28 a kilo of palay the additional revenue from our sales to DSWD will allow us to buy an additional 400,000 50-kilo bags of palay. That’s easily 12,600 metric tons of incremental rice supply,” Lacson said. “We thank the DSWD

for their understanding and support to this price adjustment.”

Lacson assured that the higher rice prices quoted to the DSWD, other relief agencies, and local government units (LGUs) would not have an impact on the market price of the national food staple.

Earlier this year, the NFA Council approved a higher buying price range of P17 to P30 a kilo from last year’s P16 to P23 a kilo to allow the grains agency to compete with private traders who have driven prices higher due to El Niño and the lingering effect of India’s rice export ban.

India recently lifted its ban on non-basmati white rice shipments

and set a minimum export price (MEP) of $490 per MT.

According to NFA, the adjustment in its palay procurement price has allowed the grains agency to purchase around 3.5 million 50-kilo bags of palay at the end of the first half, after only procuring less than 200,000 bags prior to the NFA Council decision to increase the buying price.

For this wet season, the NFA said it plans to buy between 6.4 million to 8.7 million bags of palay. It has sought from the Department of Budget and Management the immediate release of P9 billion of rice procurement funds, increasing its war chest to around P11 billion. Ada Pelonia

EU poised to delay landmark deforestation rule for one year

THE European Commission will propose a delay of its landmark law to tackle deforestation globally, submitting to immense pressure from commodity-producing countries and industry. The move is the latest sign of backlash over the reach of its environmental program. The bloc has put forward a draft amendment to postpone by 12 months the rules that aim to curb the portion of deforestation the European Union is responsible for through its imports of key commodities, like coffee, cocoa, soy and beef, according to people familiar with the matter. The regulation was slated to take effect December 30. The delay will now need the sign-off of both the European Parliament and 27 member states. European Commission spokesperson

Arianna Podesta told reporters Wednesday that “no decision has been taken.” Global agricultural heavyweights from Brazil to Indonesia have fiercely criticized the EU’s plans over concerns that the regulation will unfairly penalize smallholder farmers and curb exports of key crops. But the bloc has more recently faced complaints from its own member states and numerous industry groups have warned of impending supply disruptions and inflation. The rules necessitate complex tracking systems, with importers required to collect precise data to identify the plots of land where the goods were grown. Companies must ensure the products they bring in weren’t made on areas deforested or degraded after 2020. Worries over compliance sparked coffee traders to stock up on beans ahead of the

deadline and a major roaster warned European consumers would pay more as the regulation kicked in. A cocoa group in September said the law was headed toward “critical failure.”

Robusta coffee futures fell about 2 percent in London.

Cotton crops

COTTON growers are facing devastating losses and delays from Hurricane Helene just as harvest was beginning, marking the latest blow to profits in an already weak market. The storm ripped through the cottongrowing regions of Georgia and the Carolinas after making landfall in Florida last week. It has killed more than 100 people and caused widespread destruction, with the full impact of the storm still being assessed.

Between 400,000 to 800,000 bales may

(and) the MFN [most favored nation rate] for bananas is already at zero. If that is the case, the issue of competitiveness may be based on other factors, such as transportation cost or production cost,” he said.

“But definitely, we’ll look into this, how this FTA can address some of the concerns.

Let us know if you’re having difficulties in complying so we can factor that into our negotiations.”

According to Department of Trade and Industry-Export Marketing Bureau (EMB) Director Bianca Pearl R. Sykimte, the Philippines and UAE aim to exchange second requests and offers before the next negotiating round in the second half of October.

She said the two countries aim to conclude market access negotiations within the year. The Philip -

pines and UAE exchanged initial request and offer lists in August. The Philippines’s initial request covers 5,422 tariff lines for tariff elimination valued at $548.7 million, of which 1,143 are agricultural and 4,279 are industrial. For agricultural lines, Sykimte said products with substantial trade requested by the Philippines and offered by UAE for tariff elimination include fisheries, fresh fruit and nuts, pastry products and ingredients, processed fruit and vegetables, food and preparations. Industrial lines include essential oils and cosmetic products, plastics and articles thereof, leather goods, garments/clothing articles, footwear, articles of stone and cement and similar materials, pearls and precious metals and stones, machinery and mechanical appliances, and electrical machinery and equipment and its parts.

‘Prioritize hogs in backyard farms for free anti-ASF shots’

ASENIOR lawmaker on Wednesday expressed support for the government’s plan to provide free African swine fever (ASF) vaccine to hogs from backyard farms, as this initiative is key to eradicating the deadly ASF, boosting local pork production, and eventually lowering prices.

Camarines Sur Rep. LRay Villafuerte, National Unity Party (NUP) president, noted that backyard hog raisers account for 70 percent to 80 percent of the country’s pork supply.

Villafuerte backed the Department of Agriculture’s (DA) plan to offer free vaccinations, following President Ferdinand Marcos Jr.’s directive to accelerate the vaccine rollout to curb the spread of ASF.

The Presidential Communications Office (PCO) recently reported that President Marcos, in a sectoral meeting, ordered the DA to fasttrack the vaccine distribution to combat ASF and reduce food inflation.

“As I have proposed since last year, the government needs to shoulder the cost of the vaccines for small-scale or backyard raisers, considering that many of them are still reeling from the twin impacts of ASF, which resurfaced locally in 2019, and the three-year Covid-19 pandemic, and are thus in no position to pay for this extra medical expense amid their business losses,” Villafuerte said.

“Hence, I support this (livestock industry) proposal for the government to give priority to giving free anti-ASF shots to the hogs of backyard raisers as the DA, through its BAI (Bureau of Animal Industry), fast-tracks its vaccine rollout as ordered by the President.”

He also expressed support for involving local government units (LGUs) in speeding up the vaccine rollout by deputizing local vaccinators in ASF-affected areas.

be lost due to the hurricane, though it will take at least four to six weeks to get more clarity, said Peter Egli, an independent consultant to the cotton industry. That would represent as much as 5.5 percent of total US production for this season, according to a calculation based on US Department of Agriculture data. Helene hit cotton at its most vulnerable stage, with bolls containing seeds and lint open and exposed.

“The highest yield and highest-quality cotton is produced in that lower part of the plant—and that’s what’s going to be most vulnerable to a storm like this,” said Camp Hand, an assistant professor at the University of Georgia who is working with farmers to assess impacts. “Most of that stuff is on the ground now.”

As a former governor of Camarines Sur, one of the ASF-hit provinces, Villafuerte said there is a need to immediately implement the immunization program to restore the confidence of swine raisers in reinvesting in the industry.

Villafuerte cited the DA and the BAI for their initiatives to support the swine industry, such as the hog repopulation program under the Integrated National Swine Production Initiatives for Recovery and Expansion and the barangay-based ASF control system.

However, he noted that many backyard growers remain hesitant to reinvest fully in swine farming due to the persistent threat of ASF outbreaks and the absence of a readily available vaccine.

The DA is targeting a significant jump in the total hog population to 14 million, from the current 7.5 million head.

ASF is a viral disease infecting pigs with a fatality rate of up to 100 percent, and that has decimated swine industries worldwide since its resurgence, first in China, in 2018.

This disease was responsible for a 50-percent drop in our local swine population after ASF resurfaced in the Philippines in 2019 and devastated commercial pig farms and backyard raisers, causing an annual revenue loss of P100 billion for allied industries.

Because of the dwindling local supply, the retail prices of pork products went up to P400 a kilo and above by 2021, from the per-kilo average of P250 in 2019 and 2020.

As of October 1, DA’s Bantay Presyo monitoring reported the per-kilo cost of pork liempo ranging from P310 to P395, and that of pork kasim at P270 to P370. Jovee Marie N. Dela Cruz

Greening the 2025 polls: A call for environmental stewardship among all aspiring public servants

AS the Philippines gears up for the 2025 midterm elections with over 500,000 aspirants expected to file their certificates of candidacy from October 1 to 8, the call for environmental stewardship and sustainability in electoral campaigns could not be more urgent. (Read the BusinessMirror story: “Pols urged to cut back on waste during campaign,” September 30, 2024).

The Ecowaste Coalition’s appeal for aspiring individuals and party-list groups to prioritize public health and the environment in their campaign strategies resonates deeply in a nation where post-election waste has become a significant issue. The staggering figures of garbage generated during past elections—206 tons in 2016, slightly over 200 tons in 2019, and a worrying 254 tons in 2022—underscore the pressing need for change.

It is imperative that candidates vying for the 18,000 national and local elective posts, including 12 Senate seats, 254 district seats in the House of Representatives, and various other positions, embrace a new paradigm of campaigning—one that is environmentally conscious and sustainable.

The EcoWaste Coalition’s challenge to candidates to eschew the label of “garpol” and embody the principles of servant leadership for both the people and the planet is a call to action that cannot be ignored. A “garpol,” as defined by the coalition, is a politician who neglects environmental protection, wastes resources, and prioritizes personal gain over ecological well-being.

As candidates file their certificates of candidacy, let us heed the coalition’s call for simplicity, devoid of fanfare, pollution-causing motorcades, and litter. Let the act of filing symbolize a commitment to a clean and sustainable electoral process.

During the campaign period, candidates must lead by example, using resources judiciously, avoiding hazardous materials, and refraining from practices that harm the environment, such as defacing trees with posters or leaving campaign sites in disarray for others to clean up.

In the face of the triple planetary crisis of climate change, biodiversity loss, waste, and pollution, there is no room for dirty and wasteful campaigning. It is incumbent upon all participants in the electoral process to prioritize environmental protection in both words and actions.

As the campaign season unfolds, let us challenge our leaders to “green” their campaigns, incorporate environmental issues into their platforms, and champion a zero-waste, toxics-free society. Voters should demand that candidates put environmental stewardship at the heart of their platforms and actions, ensuring that the leaders they elect will be true servant-leaders for the people and Mother Earth.

The time for hollow promises and dirty campaigning is over. The 2025 elections must be a catalyst for a new era of green politics, where the health of our planet and its people take precedence over short-term political gains. It is time to usher in a future where environmental protection is not an afterthought, but a fundamental pillar of good governance.

In the words of EcoWaste Coalition national coordinator Aileen Lucero, let us show that we truly care for Mother Earth and her people through our commitment to environmental stewardship in this electoral campaign and beyond.

Potential good inflation news for next year

TOUTSIDE THE BOX

hE timeline of human civilization is the progression of widely available, inexpensive, and efficient energy from coal used for heating and cooking since 3490 B.C. in China to the first nuclear power plant in 1954.

Coal as a primary energy source in Europe increased from 10 percent in 1560 to 35 percent in 1660. At the beginning of the Industrial Revolution in 1760, coal represented 67 percent of all energy sources. The “Wonders of Modern Technology” beginning with the industrial revolution could not have happened without coal.

The Union of Concerned Scientists says that “before the industrial revolution, our energy needs were modest” circling the idea that we should return to the “good old days” before pollution, climate change, etc. In the 16th and 17th centuries, the prices of firewood and charcoal skyrocketed due to shortages. These were driven by increased consump -

Ation from households and industries as economies grew.

The industrial revolution did not create the demand for coal. Coal created the Industrial Revolution. In 1800, 98 percent of all energy was derived from biomass, firewood and charcoal. By 1900, biomass accounted for 50 percent and coal was up to 47 percent from 7 percent 50 years earlier.

Widely available, inexpensive, and efficient energy has fueled human development and our standard of living.

The primary global energy source in general is crude oil for transportation, electricity generation, and for the 6,000 derived products such

T 11:12 p.m. in Shenzhen on Sunday, China’s least affordable city eased rules for homebuyers. Less than an hour later, the first batch of prospective customers showed up at a sales center for a suburban project by local developer Excellence Group.

The burst of excitement came as China’s so-called tier-1 cities further relaxed restrictions for homebuying, following through on central government calls to prop up the embattled property sector. Policymakers are betting that a recovery in mega cities will spread nationwide, reviving confidence in Asia’s largest economy.

“It’s good that we arranged for some agents to stay on call at the showroom,” said an agent surnamed Zhao, who asked not to give his full name because he wasn’t authorized to speak to the media. “We ended up working overnight.”

Others also saw an immediate spike in buyer interest. Multiple agents in Shanghai said they received apartment-viewing requests from people who intend to cancel travel plans during the week-long National Day celebrations to scout properties. Some projects in Beijing scrapped discounts originally planned for the holiday period that started Tuesday, local media reported.

worldwide. The swift turnaround in sentiment of retail investors toward Chinese equities has fueled hopes that the property market freefall may finally be halted.

Regulators have been relaxing property curbs across China in recent years to put a floor under housing prices that have slumped around 30 percent in tier-1 cities from recent peaks, shattering consumer confidence in a country where real estate accounts for the bulk of households’ wealth.

Yet questions remain over whether the latest efforts in the biggest metropolitan areas will spark a recovery across the nation or divert demand away from struggling smaller cities, where most of the country’s massive excess housing inventories lie.

“This could fuel a short-lived rebound like in previous rounds of easing measures,” said Bloomberg Intelligence property analyst Kristy Hung. “This may put a stop to the property downward spiral in tier-1 cities, but probably won’t move the dial for smaller cities.”

A continued slump in the lowertier municipalities that make up most of China’s new-home sales

as fertilizer and plastics. Therefore, economies run on oil. As a result, the price of oil influences all other prices in virtually every economy.

In the 21st century, individual nation inflation tracks the price of oil. That is not to say absolutely in that a 2 percent increase in oil price means a 2 percent increase in inflation. But overall inflation absolutely tracks the trend of oil prices. Granted that during the Covid subsequent “revenge buying” period, inflation often overshot the oil price. But that was an exception. Interestingly, prior to that period, inflation in Saudi Arabia was inverse—inflation up when oil prices were down.

The inflation rate in the Euro zone peaked and troughed with oil prices as also in China, the US, Norway, and even in Japan, for example. The Philippines is not an exception. Now the good news.

The Financial Times – September 26, 2024: “Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices.” Opec has been cutting oil output to support prices. However, prices are down nearly 5 percent this year, amid increasing

Chinese developer shares jumped by a record in Hong Kong trading on Wednesday, continuing a rally that began last week as government stimulus enticed investors back to one of the most beatendown markets worldwide. The swift turnaround in sentiment of retail investors toward Chinese equities has fueled hopes that the property market freefall may finally be halted.

will impede a broader recovery, said Hung. Underscoring the challenge, sales by the nation’s 100 biggest developers slid 37.7 percent in September from a year earlier, worsening from 26.8 percent in August, China Real Estate Information Corp. figures showed this week. China’s Politburo last week made its most determined pledge yet to stabilize the real estate sector after prices of new homes fell in August at the fastest pace since 2014. The People’s Bank of China also allowed refinancing of as much as $5.3 trillion of existing mortgages for millions of families.

On Sunday, the trading hub of Guangzhou became the first tier-1 city to remove all housing restrictions, saying it would stop reviewing buyers’ eligibility and no longer limit the number of homes owned. Shang-

supply from other producers as well as weak demand growth in China. From the analysts. Goldman Sachs: “While we still see some modest upside to oil prices in the nearterm, we see more significant downside risks in 2025. The risks to our $70-$85/bbl Brent range are still to the downside.”

“ANZ forecasts Brent crude at $65 a barrel in December.” “Analysts at Bernstein said an oversupplied market and rising inventories could drive Brent down, averaging around $60 a barrel in 2025.” Brent crude is currently trading around US$72. According to FxPro, a price drop in the $30-a-barrel region represents a very pessimistic scenario but is still possible.

Combined with a stable peso exchange rate, when Brent traded below $70 from January 2015 to March 2018, Philippine inflation averaged less than two percent. Wouldn’t that be nice even if unlikely since the Philippine exchange rate averaged less than 50 to the dollar back then?

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE

and

hai and Shenzhen said they will let more people purchase residences in suburban areas, and allow some others to buy more homes. Beijing city followed on Monday by expanding eligibility for non-residents to purchase properties.

A Bloomberg Intelligence gauge of Chinese property shares climbed an unprecedented 26 percent on Wednesday morning. Shimao Group Holdings Ltd., CIFI Holdings Group Co. and Agile Group Holdings Ltd. surged more than 60 percent in Hong Kong. Mainland stock trading is closed for the holiday. The BI index has doubled since the start of last week. Authorities are reacting to warnings that China risks missing its economic growth target of around 5 percent this year. The policy barrage is expected to put the goal back within reach, but doubts remain whether it’s enough to break the country’s longer-term deflationary pressure.

Sales in Shanghai’s second-hand market rose even before the announcements, climbing to 872 transactions on September 28 alone, the highest in two months, the Securities Times reported, citing real estate platform Fangdi. That brought total used-home sales in the financial hub to more than 14,000 for the month. The easing in the big metropolitan areas may spell trouble for smaller cities, as many are running out of policy easing tools and buyers’ inSee “Chinese,” A15

Ambassador Antonio L. Cabangon Chua

2005

John Mangun

White House and Trump echo dockworkers in blaming shipping lines

By Laura Curtis

The Biden administration and former President Donald Trump lined up behind the dockworkers who walked out of every major east and Gulf coast port on Tuesday, each accusing the ocean carriers of exploiting workers during the pandemic.

The White House is also calling on the carriers to withdraw any surcharges related to the strike— which halted about 50 percent of US container trade—and warning them not to exploit any emergencies for profit. The two largest carriers have already announced plans to impose extra fees tied to the work stoppage if it continues more than a few weeks.

President Joe Biden “and Vice President Harris are closely monitoring any attempts by companies to opportunistically raise prices, including ocean shippers or others, during the labor dispute,” Transportation Secretary Pete Buttigieg said a statement Tuesday.

The International Longshoremen’s Association—the 47,000member labor organization that represents workers in every major port on the Atlantic and Gulf coasts—went on strike after their contract with the US Maritime Alliance, which represents ocean carriers and terminal operators, expired.

ILA President Harold Daggett told longshoremen at the picket line to prepare to stay off the job for as long as it takes to get a deal for even higher pay—the latest demand is a 61.5 percent raise, according to CNBC—and protections from automation, which could prove to be the bigger obstacle.

The USMX, as the group is known, maintains that the union hasn’t bargained in good faith since calling off negotiations back in June. Hours before the midnight deadline, and with urging from the White House, the USMX extended an offer that would increase dockworker wages by nearly 50 percent over the new six-year contract, up from a previous offer of almost 40 percent.

“Our current offer of a nearly 50 percent wage increase exceeds every other recent union settlement, while addressing inflation, and recognizing the ILA’s hard work to keep the global economy running,” the USMX said Tuesday.

It’s the first time in nearly 50 years these ports have shut down because of a strike and the implications for the world’s biggest economy could be dire, depending on how long the walkout lasts. With just weeks to go before the November 5 election it could also shape the campaigns.

“The strike will disrupt production and lead to loss of income for affected workers, with spillovers down the supply chain,” according to Bloomberg Economics’ Anna Wong and Nicole Gorton-Caratelli. “We estimate a hit to GDP of as much as $3 billion per day from forgone spending and production.

A week-long strike could knock 0.3 percentage point off annualized GDP,” they said.

So far, Biden, who considers himself the most pro-union president in American history, has defied calls from various industry and trade groups to intervene, first to prevent the strike, and now to end it using his authority under the TaftHartley Act.

Instead, Biden has echoed Daggett’s position that dockworkers deserve a larger share of profits won by foreign-owned container

“The strike will disrupt production and lead to loss of income for affected workers, with spillovers down the supply chain,” according to Bloomberg Economics’ Anna Wong and Nicole GortonCaratelli. “We estimate a hit to GDP of as much as $3 billion per day from forgone spending and production. A week-long strike could knock 0.3 percentage point off annualized GDP,” they said.

liners during the trade boom— and supply chain crisis—of the pandemic.

“Now is not the time for ocean carriers to refuse to negotiate a fair wage for these essential workers while raking in record profits,” Biden said, adding his administration was watching for any price gouging activity that benefits the companies—including those on the USMX board.

The president met with his chief of staff and other senior aides on Tuesday evening to discuss the strike, and reiterated his desire for his team to continue urging the carriers to present a strong offer to the longshoremen. Federal agencies have so far assessed only “limited impacts to consumers,” the White House said, and aides plan to meet daily to help prepare for more substantial supply chain disruptions.

The ILA hasn’t endorsed a presidential candidate, though according to Daggett, Trump “promised to support the ILA in its opposition to automated terminals” during a meeting at his Mar-a-Lago resort last fall. Both campaigns are working hard to win working class and union votes.

Trump faulted his Democratic rival for the high prices he says are behind the impasse at the ports.

“This is only happening because of the inflation brought on by Kamala Harris’ two votes for massive, out-of-control spending, and her decision to cut off energy exploration,” the Republican nominee said Tuesday. He also blamed the ocean carriers.

“American workers should be able to negotiate for better wages, especially since the shipping companies are mostly foreign flag vessels, including the largest consortium One,” Trump said, referring to Ocean Network Express. At an event in Wisconsin later on, the Republican nominee said the dockworkers “also don’t want to see certain new technologies, which in many cases don’t work very well.”

The Harris campaign referred a question about the strike to the White House.

Acting Labor Secretary Julie Su, who helped to broker a deal between West Coast dockworkers and their employers last summer, said she’d spent much of the past week urging both sides to reach a fair contract.

“The parties need to get back to the negotiating table, and that must begin with these giant shipping magnates acknowledging that if they can make record profits, their workers should share in that economic success,” Su said. With assistance from Josh Wingrove and Dave Merrill / Bloomberg

Vance softens tone as Walz seizes on election claims at debate

By Nancy Cook, Josh Wingrove, Skylar Woodhouse & Hadriana Lowenkron

RePuBliCan JD Vance largely succeeded in sanding down his hardline reputation while Democrat Tim Walz’s nerves were on display as the vice presidential candidates battled over immigration, abortion, and climate change during Tuesday’s debate.

Likely the final major set piece before voters head to the polls, the face-off was a last opportunity for both sides to frame their plans, policies and personalities before Election Day. The bout saw the two Midwesterners seek to maintain a personable veneer and policy focus as they delivered punishing attacks on each other’s running mate.

Vance came across as the more technically skilled, self-assured debater, seeming at ease talking about policy while parrying tough questions about his and Republican presidential nominee Donald Trump’s record and past remarks.

His objective was clear: to address his position as the least likable of the four people on the ticket, according to polls, repeatedly wrapping his jabs on Walz in niceties. He also did his best to define Democratic nominee Kamala Harris as the incumbent candidate, as the Trump campaign continues to struggle to tether her to President Joe Biden’s record.

Meanwhile, Walz gave meandering and halting answers and occasionally misspoke, including a clip that reverberated through social media in which he inadvertently suggested he had befriended school shooters.

Still, neither candidate struck a knockout blow. Vance’s performance was not without flaws of its own. The Ohio senator, who desperately needs to reverse his standing with women voters, talked over the two female moderators before CBS cut off his microphone. His refusal to say during an exchange later in the evening whether he believed Trump had lost the 2020 election delivered Democrats a signature moment.

The session was far less fiery than the presidential debate in early September, where Kamala Harris baited Donald Trump into delivering answers largely on her terms. Tuesday’s event was a far more respectful exchange of ideas, even as the two men offered starkly different visions for the country.

“My guess is that when voters are asked about this, they are going

to say this was more of a draw than we’re depicting it,” former top Obama aide David Axelrod said on CNN, summing up the debate’s potential impact on the election, which is less than 40 days away.

Vance did his best to cast Harris as the incumbent candidate who did not deserve another four years in office. He repeatedly returned to the theme that Harris should have fixed things already, which Republicans see as one of their most potent attack lines against the Democratic ticket.

“What you won’t hear is that Kamala Harris has already done it because she’s been the vice president for three and a half years. She had the opportunity to enact all of these great policies,” he said.

‘Knucklehead’ VANCE leaned on his bio as kid from a working-class neighborhood in Ohio, beset by job losses and the flood of drugs.

But when asked about false allegations he made about the Haitian community in Springfield, Ohio, he refused to back down. Local officials in the town have said claims by Trump and Vance that the Haitans were eating neighbor’s cats and dogs were unfounded.

For his part, Walz tried to play the role of Harris’ happy warrior and potential second-in-command. But that worked less well on the debate stage against a singular opponent than at campaign rallies. He gave a long-winded and awkward answer when one moderator asked him why he falsely claimed to have been in China during the 1989 Tiananmen Square protests and massacre.

“I’ve not been perfect and I’m a knucklehead at times,” he said.

Walz appeared visibly nervous at times, stumbling in particular during responses to tensions in the Middle East. He seemed reluctant to criticize Vance, even saying they both hold similar views on issues like gun control and child care where Democrats traditionally hold an edge with voters.

Walz seemed most animated

Neither candidate struck a knockout blow. Vance’s performance was not without flaws of its own. The Ohio senator, who desperately needs to reverse his standing with women voters, talked over the two female moderators before CBS cut off his microphone. His refusal to say during an exchange later in the evening whether he believed Trump had lost the 2020 election delivered Democrats a signature moment.

when he spoke about the way Republicans threatened reproductive rights by appointing justices who overturned the federal right to an abortion.

“Donald Trump put this all into motion. He bragged about how great it was that he put the judges in and overturned Roe v. Wade,” Walz said.

But Vance’s response—in which he acknowledged the Republican Party needs to do more at “earning the American people’s trust back on this issue, where they frankly just don’t trust us”—underscored the extent to which the Ohio Republican, who previously has voiced support for stringent abortion restrictions, was seeking the middle ground.

“I think that’s one of the things that Donald Trump and I are endeavoring to do. I want us as a Republican Party to be pro-family in the fullest sense of the word,” Vance said, expressing support for procedures like fertility treatments but saying abortion should be left up to the states.

Foreign policy

THE contest opened with a sharp exchange over Iran after Tehran fired about 200 ballistic missiles at Israel on Tuesday in reprisal for a dramatic series of attacks on Lebanon in recent days and the killing of Hezbollah leader Hassan Nasrallah.

“It’s those that were closest to Donald Trump that understand how dangerous he is when the world is this dangerous,” Walz said at the forum hosted by CBS News in New York.

Vance diverted the conversation to talk about his own biography. But he defended his running mate.

“As much as Governor Walz just accused Donald Trump of being an agent of chaos, Donald Trump actually delivered stability in the world, and he did it by establishing effective

Malaysia defies China with offshore drilling, US think tank says

By Philip J. Heijmans

Malaysia is expanding oil and gas exploration in the disputed south China sea despite pressure from Chinese vessels that have maintained a constant presence in waters where both sides have overlapping claims, according to a new report.

Short-range coastal tracking data show that China’s coast guard ships operated in waters claimed by Malaysia “like clockwork,” with at least one of its vessels stationed in Malaysia’s exclusive economic zone or continental shelf area nearly every day of the year, according to the Washington-based Asia Maritime Transparency Initiative.

“Despite the CCG’s efforts, Malaysia has not only continued its existing oil and gas production but also expanded exploratory activity,” according to the report published Tuesday. It adds that Chinese vessels spent most of their time near Luconia Shoals, a group of mostly submerged

reefs 80 nautical miles (150 kilometers) northwest of Sarawak state on Borneo that sits between a number of major Malaysian oil and gas projects.

The study comes after the leak of a diplomatic letter weeks ago in which Beijing privately urged Malaysia to halt its offshore oil and gas activities near Luconia Shoals, prompting a rare public acknowledgment of the long-running dispute from Prime Minister Anwar Ibrahim just as his government seeks to foster deeper economic links with China.

“China is a great friend, but of course we have to operate in our waters and secure economic advantage, including drilling for oil in our terri-

“While China’s presence at Luconia Shoals is continuous, it doesn’t come close to matching the scale of activity farther north in the Spratly Islands, where Beijing has deployed dozens of coast guard and hundreds of militia ships to contest Philippine activities in disputed waters,” the AMTI report said. “However, with Malaysia’s expanding drilling and a potential reduction in China-Philippine tensions, Beijing could ratchet up the pressure on Malaysian hydrocarbon production,” it said.

tory,” he said during a visit to Russia.

Stretching from the Chinese mainland and Taiwan down to Malaysia and Indonesia, the South China Sea is a critical artery for global trade, including about 37 percent of the world’s maritime crude. China has laid claim to a vast swath of

deterrence,” Vance said.

Vance attacked Harris on immigration, one of the Democratic presidential nominee’s biggest political vulnerabilities—and argued for Trump’s pledges to finish building the border wall and deport illegal migrants.

Walz accused Republicans of “blaming migrants for everything” and criticized Trump for killing a bipartisan immigration bill that would have brought more resources to handle the border crisis and bolster border security.

Climate change

THE candidates also debated climate change policies in the wake of Hurricane Helene, which has devastated states across the US southeast.

Vance repeatedly sidestepped questions about whether he believed climate change was real, saying that either way he wanted to bring back manufacturing and produce energy domestically because it was cleaner than energy production overseas.

“Kamala Harris’ policies actually led to more energy production in China, more manufacturing overseas,” Vance said.

Walz touted “massive investments” in electric-vehicle technologies and solar manufacturing. The two also sparred over high housing costs with Walz defending a proposal from Harris that would give downpayment assistance to some first-time homeowners and insisting it would not drive prices higher. And he pointed to efforts in Minnesota to invest in building more homes and reducing red tape. Vance though highlighted immigration, saying it was contributing to rising housing costs.

Capitol attack

A BOUT 90 minutes into the debate, the topic turned to the January 6, 2021 riot at the US Capitol by supporters of Trump seeking to stop then-Vice President Mike Pence from allowing certification of President Joe Biden’s election victory.

“Mike Pence made the right decision,” Walz said, and he asked Vance directly if Trump had won or lost the 2020 election.

“I’m focused on the future,” Vance replied. The senator sought to shift the conversation to censorship, which he cast as a greater threat to democracy.

Walz said the response was a “damning non-answer.” Bloomberg

incomes via other macro

the waters, based on a vague 1940s map that has broadly been rejected by other nations and a UN tribunal. To assert its expansive claims, China has utilized a maritime militia of fishing fleets and coast guard vessels to swarm resource rich waters, effectively blocking other claimant nations like the Philippines and Vietnam from tapping the deposits beneath the surface.

“However, with Malaysia’s expanding drilling and a potential reduction in China-Philippine tensions, Beijing could ratchet up the pressure on Malaysian hydrocarbon production,” it said. Bloomberg

stimulus, Morgan Stanley analysts led by Stephen Cheung wrote in a research note.

“It may take time and could still prove challenging to turn around residents’ bearish views with existing policies,” Cheung said. Bloomberg

Despite ‘critical’ talent gap threat, IT-BPM sector upbeat

THEPhilippine IT and Business Process Management (IT-BPM) industry will hit $38 billion in revenues and a headcount of 1.82 million employees by the end of 2024 despite the “critical threat” of talent gap, among others.

“With three months to go, we expect revenues of $38 billion and a headcount of 1.82 million, adding 120,000 new jobs. is represents 7 percent growth,double the global rate. Despite challenges, our industry continues to be resilient,” IT and Business Process Association of the Philippines (Ibpap) President Jack Madrid said at the International IT-BPM Summit 2024 on Wednesday in Parañaque City. However, Madrid said Ibpap might recalibrate the industry’s revenue and employment targets in 2025 due to global headwinds.

“But as we continue to push forward, we must acknowledge that the environment has changed.

ese numbers were established more than two years ago, and context is evolving fast, and the situation continues to unravel,” Madrid said.

e Ibpap chief noted that the headwinds that the industry faces “require diﬀerent interventions that we must increase.”

“We constantly review our roadmap projections but we felt that in 2024, we are going to achieve our targets. So the scheduled recalibration of roadmap will happen in 2025,” Madrid told reporters on the sidelines of the IT-BPM summit.

Madrid unveiled the challenges confronting the sector.

Sotto-Lacson tandem, Magdalo party seek political comeback

ORMER senators Vicente

F“Tito” Sotto and Panﬁ lo

“Ping” Lacson, and House representative Garry Alejano were among those who sought to return to politics as they ﬁ led their certiﬁcate of candidacy (COC) on Wednesday.

Sotto and Lacson were running mates in the 2022 elections where they bid for the vice presidential and presidential seats.

Now, the two are running for senator under the Marcos administration-backed Alyansa para sa Bagong Pilipinas and the “Macho bloc” where they are joined by incumbent senator Lito Lapid, who also ﬁ led his COC for re-election.

According to Sotto, the impending return of Senate old-timers like him will be a huge help in ensuring the checks and balances in the government.

“We need to review law enforcement and look at how the eﬃcacy of government services is being executed so the issue of Alice Guo never happens again,” he said. Lacson added that their bloc will also bring back the lost proper decorum and parliamentary rules in the members of the Congress, as well as its resource speakers during hearings.

e two former senators believe that their extensive political experience will be beneﬁcial in continuing and strengthening the projects of the current administration.

Sotto had already served the Senate for 24 years, including four years as Senate president, while Lacson had served for 18 years. Meanwhile, the Magdalo Para sa Pilipino (Magdalo) party-list, known for representing retired uniformed personnel, urban poor and the youth, is also eyeing to return to the lower House.

According to Alejano, its ﬁ rst nominee, there is a need for “strong and courageous” leadership that will serve the best interest of the nation.

Kailangan po natin ng matapang

at matibay na tatayo sa pangangailangan ng mamamayan lalong lalo na ngayon sa issue ng West Philippines [We need a brave and strong representative to stand up for our people’s needs, especially on the issue of West Philippines],” he added.

Magdalo has been active in the political arena since the 16th Congress. Its winning streak ended in the 2022 elections, when it secured only 0.32 percent of votes.

Aside from its then-consistent representation in the lower House, the group is also known for being the only party-list to have ﬁ led an impeachment against former president Rodrigo Duterte.

When asked regarding the current governance of Vice President Sara Duterte, Alejano said that they would not hesitate to ﬁ le for an impeachment—if they secure a House seat—against her.

“Sa nakikita kong violations sa Constitution, malaki po ang posibilidad na maghahain ako ng impeachment against the VP [With all the constitutional violations I’ve seen, there’s a big possibility I will ﬁ le an impeachment complaint against the VP],” he said.

Sectoral representation

AMONG the 11 political parties that ﬁ led their intent to run on Wednesday, various groups are vying to shed light on the diﬀerent issues that their sectors are facing.

Each of these parties has unique needs and challenges: Ang Kumadrona which aims to empower midwives, United Senior Citizens which seeks for better social protection and healthcare for the elderly, A Teachers that advocate, for improved salaries and working conditions of educators, and Vendors which pushes for fair policies and market access.

According to the Commission on Elections, after the two days of COC ﬁ ling, there are now a total of 26 aspirants for party-list representative seats and 27 for senatorial positions.

Political aspirants can still ﬁ le for their intent to run until October 8.

“First, the talent and skills gap. In our midyear survey, this remains the top challenge, with 21 percent of respondents identifying as critical. e demand for advanced digital skills like data analytics, programming, and machine learning, as well as soft skills and domain-speciﬁc skills in healthcare, accounting and banking, outpaces our workforce’s current capabilities,” the Ibpap head said.

He emphasized that, “ is talent gap is a critical threat to our industry.”

Moving forward, he said Ibpap will continue to execute talent interventions, including collaborations with the Department of Education (DepEd) and the Technical Education and Skills Development Authority (Tesda).

“We’re also working with Google to provide industry-recognized certiﬁcates in IT support, data analytics, cybersecurity and Artiﬁcial Intelligence [AI],” he added.

Another challenge the industry faces is the rising cost of doing business. Madrid said the country’s operating costs are higher than other IT-BPM destinations.

“We’re actively pushing for the revocation of additional taxes, and we’ve initiated discussions on ris-

ing healthcare costs,” the IBPAP chief noted.

Madrid said the local IT-BPM sector is facing “intensifying” global competition.

With countries like Colombia, South Africa, and Poland emerging, Madrid emphasized that while these countries lack the Philippines’ demographic advantage, “We must innovate, diﬀerentiate, and leverage our strengths in language proﬁciency, cultural adaptability, and technical expertise.”

Meanwhile, considering the “transformative time,” the Ibpap head said artiﬁcial intelligence (AI) is already changing how the world works and what skills the country needs.

“In our latest survey, 67 percent of members are implementing AI initiatives in areas such as customer service, data entry and quality assurance,” he added.

“ e impact of AI on operations has been mostly positive, improving employee productivity, operational eﬃciency, and service quality. However, challenges such as the cost of implementation, system integration, data privacy, and the lack of skilled talent remain barriers to adoption,” Madrid underscored.

CELEBRITIES and social media stars are making their mark beyond the screen as they enter the political arena.

Two days into the fi ling of certificates of candidacy (COC) and nomination acceptance (CONA), several entertainment figures declared their bids for various posts at the national and local levels.

TikTok sensations Deo “Diwata” Balbuena, and Eli San Fernando are among the nominees of the party-lists they intend to represent.

Balbuena, the Pasay-based beef pares vendor who became viral in the internet, is the fourth nominee of the newly established Vendors Party-list.

“Hindi po ako nag-atubiling sumama sa kanila para ipaglaban ang mga karapatan ng bawat maninindang Filipino na ang intensyon lang namin ay mabuhay nang patas,” he said on Wednesday.

Balbuena said their group will help vendors raise capital for their businesses and protect them from sudden displacement.

Meanwhile, San Fernando— known for his outspoken political views—ﬁ led his COC and CONA on Tuesday as the ﬁ rst nominee of the Kamanggagawa Party-list,

vowing to abolish the provincial rate for workers.

Oo tatakbo ako para k*****n lahat ng politiko sa Kongreso at para maisulong ang adbokasiya natin. Pero hindi ibig sabihin na pag nanalo tayo ay mabubuwag ko na ’yan,” he said in his Facebook post. He also denounced claims of bias, saying, “ Wala akong pake dyan [sa kulay]. Kasi pag nagtaas ang presyo ng bilihin walang pinipiling kulay. ’Yung provincial rate walang pakialam kahit anong kulay mo.

YouTube vlogger Mark Gamboa, who is behind the “Models of Manila” channel, ﬁ led for senator on Monday as well. He aims to advocate for content creators and proposes establishing a round-the-clock “fake news watchdog” for people to report misinformation, especially now that people have been exposed to social media. “I want to prove that lots of money and fame are not needed to win; one needs to have only pure intentions,” he said, partly in Filipino.

Local level A HANDFUL of celebrities are also eyeing local government seats in the upcoming 2025 elections.

THE National Wages and Productivity Commission (NWPC) on Wedneday granted a daily minimum wage hike of P30 in Region II, P50 to P66 in Region III, and P27 to P48 in Region XII.

With the wage order, the new daily minimum wage the Cagayan Valley region is P480 for the nonagricultural sector and P460 for the agricultural sector.

Househelp in Region II will also receive a P500 monthly minimum wage increase, bringing their salary to P6,000 per month or around P272 daily for 22 working days. Meanwhile, the Regional Tripartite Wages and Productivity Board (RTWPB) of Central Luzon

simpliﬁed its wage structure to the main sector/industry classiﬁcations of non-agriculture, agriculture, and retail and service.

e daily minimum rates are as follows: P500 to P550 in non-agriculture; P485-P520 in agriculture; and P435-540 in retail and service establishments upon full implementation of all tranches.

Among the seven provinces in the region, only Aurora has a different salary matrix. Its non-agriculture workers receive P500, agriculture with P485, and retail and service with P435.

e RTWPB of Soccskargen has a similar classiﬁcation. e new rates are P430 for non-agriculture and retail and service, and P410 for agriculture.

Di erentiating wages across industries

THE wage orders in the three regions emphasized the wage disparity between industries, with higher wages concentrated in certain sectors while others lag behind.

According to Assistant Professor Benjamin Velasco of the School of Labor and Industrial Relations in University of the Philippines Diliman, the wage gaps across industries hugely depend on the sectors’ labor productivity. Such productivity is deﬁ ned by the International Labour Organization as the total volume of output (measured in terms of gross

domestic product) produced per unit of labor (measured in terms of the number of employed persons or hours worked) during a certain period. However, Velasco argued that using productivity to justify wage diﬀerences is misplaced. He contended that minimum wage policies should protect all workers equally, regardless of their industry or the size of the ﬁ rm they work for. “It should not discriminate across economic

size of

Editor: Jennifer A. Ng

EDC bags drilling rights for Indonesia energy projects

By Lenie Lectura @llectura

EnErgy Development Corp. (EDC) is expanding overseas after it was granted drilling rights for two greenfield geothermal projects in Indonesia.

The Lopez-led firm said on Wednesday it was awarded surface exploration and drilling rights, also known as the preliminary survey assignments plus exploration (PSPE), by Indonesia’s Ministry of Energy and Mineral Resource at the 10th Indonesia International Geothermal Convention and Exhibition held last September 18 to 20 at the Jakarta Convention Center.

Under the concession agreement, EDC will explore and drill geothermal prospects—the Koto Sani Tanjung Bingkung and Bora Pulu—in Indonesia.

“This achievement marks a significant milestone in realizing

EDC’s mission to forge collaborative pathways to a decarbonized and regenerative future, not only in the Philippines but in the region as well and beyond,” said Joeffrey Caranto, EDC’s Head of Business Development–International. Caranto received the concession awards at the event, where Indonesian President Joko Widodo was also present to underscore the importance of geothermal energy in the country’s energy transition targets. According to Caranto, the move aligns with EDC’s growth strategy as part of the 13,000-megawatt (MW) low-carbon energy portfolio of parent firm First Gen Corp. targeted

by 2030, 9,000 MW of which will be from renewable energy (RE).

EDC continues to produce 24/7 renewable energy and is currently working to reinforce its steam supply to ensure that it produces even more clean power with the completion of 83 megawatts (MW) of new geothermal plants by year end.

The company has over 1,464.5MW total installed capacity that accounts for almost 20 percent of the country’s total installed RE capacity. Its 1,169.85MW geothermal portfolio comprises 80 percent of the country’s total installed geothermal capacity, making the Philippines the third largest geothermal producer in the world.

Last August, First Gen reported that its net income fell by 10 percent to $150 million in the first half from last year’s $167 million due to lower earnings from its geothermal unit.

The Lopez-led firm said EDC’s geothermal portfolio continued to produce lower recurring net income this year mainly due to the decline of its revenues combined with an in-

crease in operating expenses. However, higher profits from the natural gas business were able to partially offset the decline from First Gen’s geothermal business. Consolidated revenues hit $1.28 billion slightly lower from last year’s numbers due to lower volumes of electricity sold across all platforms except for the hydro platform. The natural gas portfolio accounted for 67 percent of First Gen’s total consolidated revenues, while 30 percent came from EDC’s geothermal, wind, and solar plants. The balance comes from the company’s hydro business unit.

The natural gas business unit reported a 26-percent increase in recurring earnings for the first half of 2024 to $115 million from the previous year’s $91 million. The 420 MW San Gabriel Power Plant (San Gabriel), 1,000 MW Santa Rita Power Plant (Santa Rita) and 500MW San Lorenzo Power Plant (San Lorenzo) all delivered higher operating income due to savings in operating expenses, and high spot market prices in the case of San Gabriel.

EZconn to start operations in 2025

EBy Andrea E. San Juan @andreasanjuan

Z C onn Corp., a Taiwan -

ese firm that specializes in manufacturing high-precision optical fiber communication components, cables and connectors, is set to begin operations in Batangas by the first quarter of 2025, according to the Philippine Economic Zone Authority (Peza).

“With an estimated project cost of P70 million, $3.135 million in exports, and over 50 initial direct jobs, EZconn is set to begin operations at the Lima Technology Center—Special Economic Zone in Lipa City, Batangas, by January-March 2025,” Peza said in a statement on Wednesday.

According to the investment promotion agency, EZconn is a Taiwan-

Globe to build more cell sites in Pangasinan

GL oBE Telecom Inc. is expanding its network coverage in Pangasinan as it has put up four more cellular sites in the province.

The new sites, built in Bayambang, Binalonan, Mangatarem, and San Manuel, aim to deliver robust mobile and internet connectivity. To further boost Pangasinan’s agriculture and tourism sectors, Globe will also upgrade 13 cellular sites. These are all meant to support connectivity needs in the province, Globe said on Wednesday.

“The new and expanded Globe sites are expected to benefit the local agricultural sector, enabling farmers to access up-to-date information on weather, market prices, and modern farming techniques. These improvements in digital connectivity will help farmers optimize their operations, leading to increased productivity and profitability,” the telco said in a statement.

Globe’s expanded network in Pangasinan aligns with the local government’s efforts to digitalize services and promote economic development. Lenie Lectura

By VG Cabuag @villygc

ConGLoMERATE SM Investments Corp. (SMIC) said its retail outlets and shopping malls, which record a daily foot traffic of 4 million, provide a platform to support some 900 micro, small and medium enterprises (MSMEs) across the Philippines.

“ o ur support for small businesses is comprehensive. We host weekly bazaars where MSMEs can present their products without the burden of space rental fees. Instead, they contribute a percentage of their earnings to SM, providing them with an affordable avenue to connect with more customers,” Jojo Tagbo, president of SM Supermarket said.

SM Markets said it is sourcing its goods from regional suppliers to bolster local economies.

or Sanicare, illustrates another success story.

Founded in 1996, Sanicare began its partnership with SM Markets in 2000, shortly after the Asian financial crisis.

Renato Sio, Sanicare’s founder, credits the opportunity provided by SM Markets for their growth.

“SM allowed us to start with a small shelf space, which was crucial for us as a startup. our product’s success was driven by its quality and consumer demand,” Sio said. From a single shelf in an SM Market in Megamall B, Sanicare’s products are now available nationwide.

ese firm that specializes in manufacturing high-precision optical fiber communication components, cables, connectors, and related products for export to the United States, Indonesia, and Europe.

Peza Director General Tereso o Panga said EZconn’s registration “highlights the Philippines’s appeal to foreign investors, particularly in the rapidly growing telecommunications and fiber optics industry.”

In January to September, Peza said investments approved from Taiwanese firms have reached P634 million.

Last week, Peza said it approved 179 new and expansion projects worth P115.89 billion, up 4.21-percent compared to the pledges recorded in the 9-month period last year.

In a statement on Sunday, the

investment promotion agency said these projects are projected to generate $2.513 billion in exports and create 35,871 direct jobs.

The P115.89 billion in investments is 4.21-percent higher than the P111.21-billion investment pledges recorded in January to September 2023.

Such investments are “strengthening” the outlook for hitting a P200-billion investment target for the year, Peza said.

Manufacturing led the number of projects in the 9-month period this year with 88 investment projects, followed by IT-BPM, with 45; Ecozone Development, 21 projects; Facilities, 11 projects; Logistics, 8 projects and Domestic, 5 projects.

In September alone, Peza approved 16 new and expansion projects expected to bring in approxi -

mately P54.19 billion in investments, seen to generate $541.04 million in exports and provide 4,044 new jobs for Filipinos.

Peza noted that the investment projects approved in the past month alone “stand out” as the set of largest investment approvals this year.

“From the 16 approved new and expansion projects, there is a staggering 285 percent increase in investments amounting to P54.19 billion compared to P14.04 billion last September 2023.”

The 16 newly approved and expansion projects for September 2024 consist of 8 export manufacturing, five under IT and Business Process Management (IT-BPM) sector, one in facilities development, one dedicated to ecozone logistics services and one in ecozone development.

Holcim pushes ‘sustainable’ cement brand

By Jonathan L. Mayuga @jonlmayuga

HoLCIM Philippines has set its sights on rebranding its cement product as it targets the pro-environment market.

Samuel Manlosa Jr., Holcim senior vice president and head of sustainability, expressed confidence that awareness of environmentally friendly products bodes well for its “sustainable” cement.

“Last year, at least 60 to 70 percent of our portfolio is already blended cement.” Blended cement means the carbon footprint in the production of the cement is 30 percent lower than other cement products.

“We believe that the Filipino consumers, whether they are contractors, eventually will realize that that it is inescapable that sustainability is becoming a must.”

In Mindanao, a program of Holcim makes use of agricultural wastes as fuel to sustain its operations.

“Holcim controls about 70 percent of biomass in Mindanao,” said Manlosa, citing the plants’ increasing use of rice hull to fuel operations in its Davao City and Misamis oriental.

The company also runs two plants in Luzon but the biomass use is not as big as Mindanao, which covers at least 5 regions. Through its program, Holcim said rice farmers can earn from their rice hull collection, eventually reducing the cost of fuel use.

Since 2018, Holcim Philippines has reduced its carbon footprint by more than 20 percent by producing more blended cement, replacing coal with qualified waste as alternative fuels and raw materials, shifting to renewable energy, and improving the efficiency of operations.

In 2023, Holcim and the social impact organization Alalay sa Kaunlaran Microfinance Social Development, Inc. (ASKI) completed a proj-

ect to strengthen homes in Central Luzon against extreme weather by providing access to housing loans to low-income families while raising awareness of the importance of climate resilience.

Holicm’s Circular Explorer, a marine waste collection and research vessel sent by the Holcim Group helps in the rehabilitation of Manila Bay. The company eventually converts tens of thousands of qualified waste to alternative fuels and raw materials through the waste management unit Geocycle and co-processing, a government-approved and internationally recognized process disposing of waste in an environmentally sound manner.

“As we expand into provincial areas, we prioritize finding local suppliers to enhance efficiency and support regional growth,” Tagbo said. “This approach ensures we can offer a diverse range of products and improve the overall shopping experience for our customers.”

In Davao, Royal Breadhaus, founded by Emil and Vivian Sison, has been a supplier since 2001. Vivian Sison’s commitment to product innovation has allowed Royal Breadhaus to supply to 10 SM Markets branches.

Sanitary Care Products Asia Inc.,

THE Department of Energy (D oE) has added another feather to its cap after one of its top officials received the 2024 Asean Excellence in Energy Management Award-Individual Category.

The ASEA n Excellence in Energy Management Award-Individual Category was conferred upon DoE-Energy Utilization Management Bureau (EUMB) Director Patrick T. Aquino, who serves as the Philippines’s focal point for energy efficiency and conservation initiatives.

“This recognition is a testament to Aquino’s outstanding leadership and significant contributions to advancing sustainable energy practices, both in the Philippines and throughout the Asean region.”

Also, two Philippine establishments were recognized for their outstanding practices in maximizing efficiency through innovate technologies and construction techniques aimed at reducing energy consumption and enhancing performance.

SM City Butuan was awarded 2nd Runner-up in the new and Existing Building subcategory of the Energy Efficient Building Category while Ayala Malls Vertis north earned 2nd Runner-up in the Small and Medium Building sub-category of the Energy

The family of Christine Biongcog of Under the Sea Products Marketing Corp., meanwhile, has been supplying seafood to SM Markets for 22 years, starting from a small stall in the public market. Her journey with SM began in 2002 when she submitted a letter of intent to supply seafood to the newly opened SM Cagayan de oro. Today, Under the Sea Products has expanded its reach, supplying to seven SM Markets branches across Cagayan de oro, Davao, and Zamboanga.

“SM provided us with a larger space compared to our previous stalls, which required us to be more resourceful and adaptable,” Biongcog said.

SM Markets also offers financial support through BD o Unibank, facilitating easier access to capital needed for business growth.

Management in Building Category. DoE Secretary Raphael Lotilla congratulated the awardees and expressed the hope that their accomplishments will inspire other private organizations to aim for the same commitment.

“With EEC as a whole-of-nation approach to reduce consumption and ultimately realize savings, I encourage others to also approach this advocacy creatively and with fervor. I also express my appreciation to Director Aquino for demonstrating strong leadership in advancing energy efficiency through innovative programs and policy recommendations that commits to sustainability and the country’s energy savings goals,” said Lotilla. Spearheaded by the Asean Center for Energy (ACE), the Asean Energy Award is Southeast Asia’s highest accolade, designed to encourage and recognize greater private sector participation in energy development within the Asean region in partnership with the public sector. The awards are categorized into three main segments: the Asean Coal Awards, the Asean Energy Efficiency and Conservation Best Practices Award, and the Asean Renewable Energy Project Awards. Lenie Lectura

Photo from www.holcim.Ph

Photo from the facebook Page of Sm city Valenzuela

Power spot market prices decline

EBy Lenie Lectura @llectura

lectricity spot market pric-

es plunged by 34.7 percent to P3.88 per kilowatt hour (kWh) during the August 26 to September 25 period from P5.94 per kWh

a month earlier, the independent electricity Market Operator of the Philippines ( ieMOP) reported on Wednesday.

t he operator of the Wholesale e lectricity Spot Market (W e SM) attributed the decline in average power price to sustained large system

supply margin, primarily because of cooler weather. electricity demand went down to 13,700 megawatts (MW) from 14,186MW. Supply, meanwhile, rose by 3.2 percent to 20,348 MW from 19,718MW.

For luzon, the spot price fell 39.1

percent to P3.8 per kWh. Supply on the main island went up by 4.9 percent to14,327MW, while demand dropped 4.3 percent to 9,746MW. For Visayas, the average spot price in the Visayas fell 34.2 percent to P4.56 per kWh. Supply stood at 2,387MW, up 5.3 percent, while

demand declined by 1.3 percent 1,955MW.

Mindanao’s average W eSM price went up 3.3 percent to P3.48 per kWh. Supply fell 4.2 percent to 3,635 MW. Demand declined by 1.3 percent to 1,999MW.

ieMOP said the supply-demand scenario in Mindanao went up due to outages in some baseload plants, resulting in a minimal increase in spot prices.

W eSM is the country’s trading floor for electricity. it is where energy companies can buy power when their long-term contracted power supply

is insufficient for customer needs. t he W e SM operator said spot market prices for the remaining months of the year could remain the same or even lower if there will be no large plant outage incidents. l ast July, the energy regulatory commission (erc) ordered the resumption of full operations of the reserve market. t he agency announced the lifting of the suspension on the implementation of Section 8 on Billing and Settlement of the Price Determination Methodology (PDM) in the co-optimized energy and reserve in W eSM. t he lifting of the suspension paves the way for the resumption of full operations of the trading of reserves in the W eSM for contracted and merchant plants. in a Notice of resolution dated July 26, 2024, the commission determined that the grounds for the suspension are no longer present, following the compliance of Philippine electricity Market corp. and ieMOP with the erc ’s directives for the evaluation of their application for the proposed amended PDM.

Banking&Finance

US imposes duties on solar panels from Southeast Asia

THE US Commerce Department set preliminary duties on solar imports from Southeast Asia, after an initial finding the equipment is benefiting from illegal government aid.

The determination marks an early victory for domestic panel makers who say cheap imports are harming their operations and threatening investments meant to cultivate a US solar supply chain. They asked the government to impose the duties, arguing the equipment benefits from unfair foreign subsidies and is being sold at prices below the cost of production.

The targeted nations provide the bulk of US solar cell and module imports, and the swift imposition of countervailing duties means renewable developers will face higher prices for that equipment right away. For many imports from Thailand and Vietnam, rates will apply retroactively, going back 90 days to early July.

The case marks only the latest bid by US manufacturers to confront overseas rivals, beginning with similar duties on solar imports from China roughly 12 years ago. Chinese manufacturers responded by setting up operations in other Asian nations that weren’t affected by the tariffs.

Companies pursuing the latest claims as part of the American Alliance for Solar Manufacturing Trade Committee include First Solar Inc., Hanwha Qcells USA Inc., and Mission Solar Energy LLC.

Chinese officials have argued new tariffs threaten to slow the speed of the US energy transition and its fight against climate change. The case has drawn opposition from some foreign manufacturers and domestic renewable power developers who argue tariffs could give an unfair advantage to larger incumbent US manufacturers while raising the cost of solar power projects.

“We need effective solutions that support US solar manufacturers and, at the same time, help us deploy clean energy at the scale and the speed we need to tackle climate change and serve growing electricity demand here in the US,” said Abigail Ross Hopper, president of the Solar Energy Industries Association. “While we recognize the challenging market landscape for domestic manufacturers in the short term, these cases alone will not solve for our macro challenges.”

The investigation is set to reach into next spring—and final rates could be raised, lowered or jettisoned altogether

based on the results of the probe.

Under Tuesday’s action, preliminary general rates for companies not specified by Commerce are 8.25 percent for Cambodia; 9.13 percent for Malaysia; 23.06 percent for Thailand; and 2.85 percent for Vietnam. Company-specific rates include 14.72 percent for imports from Hanwha Q Cells Malaysia Sdn. Bhd.; 3.47 percent for imports from certain JinkoSolar Holding Co. Ltd entities in Malaysia; 0.14 percent for Trina Solar Science & Technology (Thailand) Ltd; and 2.85 percent for certain JA Solar Technology Co. entities in Vietnam.

The preliminary rates generally were lower than anticipated, analysts said. However, final rates likely are to be higher than initially assessed, as in past solar trade cases, and Commerce has only recently begun probing several newly lodged subsidy allegations, said Tim Brightbill, partner at Wiley Rein LLP and lead counsel to the petitioners.

“We’re confident that by the final determination there will be significant subsidies, not only on all four countries, but on the major Chinese producers,” Brightbill said. “Many of these companies are adept at hiding their subsidies and where they’re coming from.”

For the largest importers such as Trina and JA, the preliminary rates were “so low as to be meaningless,” KeyBanc Capital Markets said in a research note. The outcome could further weigh on shares of First Solar, because it has been a prime potential beneficiary, but should be “supportive of the downstream solar industry,” KeyBanc said.

The Commerce Department preliminarily agreed with the manufacturers’ alliance that climbing imports in recent months constitute “critical circumstances”—a benchmark under trade law—and warrant retroactive duties for imports from Vietnam and Thailand dating back to July 2. Under the initial finding, that retroactive duty collection doesn’t apply to equipment from Trina Solar Science & Technology (Thailand) Ltd. and imported solar cells from Boviet Solar Technology Co., Ltd. in Vietnam and JA Solar Vietnam Company Limited. The Commerce Department is still conducting its initial investigation into claims solar imports from the targeted countries are being dumped in the US and sold below the cost of production; it is expected to reveal a preliminary finding in that case in November.

Bloomberg News

More revenues seen if govt resolves vape PS-mark issues

By Reine Juvierre Alberto @reine_alberto

BUSINESSMEN organized under the Philippine e-cigarette Industry Association (Pecia) believes resolving issues on the productstandard (PS) markings on vape products could lead to more revenues for the national government.

According to Pecia President Joey Dulay, resolving such issues are important in the light of the Bureau of Internal Revenue (BIR) lagging on revenue collections from tax stamps and excise taxes as vape products await the affixture of PS marks.

Data from the Bureau of the Treasury (BTr) showed excise taxes declined by P27.359 billion to P167.480 billion from the P194.839 billion goal for the January to July 2024 period. This is also lower by 4.12 percent from the P174.684 billion recorded

AUB

THE Asia United Bank (AUB) announced it has recently received the “Operational Excellence Special Recognition Award” from financial services firm Wells Fargo N.A.

The lender quoted Jasper Lim, executive director and senior relationship manager for Banks APACSouth at Wells Fargo, as saying that only the top 25 percent globally gets recognized and receives the award.

According to the statement issued by the AUB, it received the award “for consistently showing improvement in the straight-through processing (STP) rate for the past three years: 99.38 percent in 2021, 99.59 percent in 2022, and a near perfect 99.9 percent in 2023.”

“The Special Recognition Award was a first for AUB, which has previously been awarded for ‘Operational Excellence,’ Wells Fargo’s highest global operational award,” the lender added.

According to Lim, the AUB processes dollar payments “for its cus-

TBy Cai U. Ordinario @caiordinario

HE clients of Security Bank Corp. (PSE: SECB) can now obtain non-life insurance products through the bank’s latest partnership with Philippine British Insurance Co. Inc. (PhilBritish Insurance), according to the country’s eighth-largest lender in terms of assets. These clients can benefit from preferential rates, ease of processing applications, payments and renewals and improved compliance with government-mandated insurance requirements, it added.

“Partnering with PhilBritish Insurance aligns perfectly with our mission to empower businesses with holistic and comprehensive financial solutions,” SECB Business Banking Segment Head John David G. Yap was quoted in a statement as saying.

“By offering non-life insurance products tailored to the needs of MSMEs [micro-sized, small and medium-sized enterprises] and corporate clients, we can help them safeguard their assets and comply with government regulations more efficiently. This collaboration underscores our commitment to being the most customer-centric bank in the Philippines,” Yap added.

According to SECB, it designed with PhilBritish Insurance a range of a la carte non-life or business insurance products such as office/

store property insurance, company car/auto fleet insurance and comprehensive general liability insurance.

The products also included fidelity guarantee insurance, money inside and outside insurance (or money, salary, payroll and robbery), contractor’s all risk insurance (Cari) and performance bonds.

PhilBritish is a 100-percent Filipino owned non-life insurance company that has been serving the Filipino community since the 1960s. Today, it writes more than P2 billion in premiums from 31 branches and agencies nationwide.

“We are pleased to collaborate with Security Bank to provide specialized non-life insurance products designed for MSMEs and corporate clients,” PhilBritish Insurance Chairman Rosario W. Cuyegkeng was quoted in the statement as saying.

“This partnership enhances our dedication to protecting Filipino enterprises while ensuring they stay compliant with regulatory standards,” Cuyegkeng added.

According to SECB, its partnership with the non-life insurer comes on the heels of several recent initiatives to strengthen the lender’s support for MSME and corporate clients.

This includes a program that provides business clients with preferential discounts and exclusive access to third parties and a digital payment platform that enables realtime monitoring and reconciliation of payments.

THE FWD Life Insurance Corp. (FWD

PHL) announced having launched a program to accommodate a market segment concerned with mental health.

Called “Mind Strength Support” (MSS), the fourth-largest insurer in terms of premium income explained the program “is the first of its kind, offering a holistic approach to mental, emotional, and financial wellbeing.”

The insurer’s statement read that the MSS program includes the following: a free online test providing valuable insights into mental health; a customizable insurance plan with an exclusive voucher for the mental wellbeing; and, financial literacy resources that offer easily accessible content to support overall wellbeing.

“With more young Filipinos learning to prioritize their wellness, it is important that we recognize the often-overlooked challenges related to mental health,” Roche Vandenberghe, the firm’s chief marketing and digital business officer, was quoted in the statement as saying.

“Which is why we need to raise greater awareness and make mental health resources more accessible to help more people address their personal battles, be it with a professional or through self-care.”

According to the insurer, it provides a 30day free-access option for those who completed a free online test “mind strength assessment test.”

“Upon completion of the test, individuals may sign up for 30 days of free access to the ‘ThoughtFullChat’ app, where they can start their self-care plan by engaging in multiple

from January to July 2023. Hirap na hirap na po ’yung retail vape industry dahil marami pong mga brands, importers, manufacturers ang hindi pa nakakakuha ng PS mark,” Dulay said during a forum on the trade in e-cigarettes last Wednesday. [The retail vape industry is really struggling because many brands, importers, and manufacturers have not yet obtained the PS mark.]

Under Republic Act (RA) 11900 (Vape Law), vape products barred

from entering the Philippine market are those not bearing PS marks/ license or Import Commodity Clearance (ICC) stickers. These should be affixed on the product itself.

The PS marks and ICC stickers not only serve as a guide but also assures consumers that what they purchase are certified quality and safety products conforming to the relevant Philippine National Standards (PNS), according to the Department of Trade and Industry (DTI).

Dulay said about 10 percent to 20 percent of retailers have already closed shop citing inability to meet overhead costs with sales of only one to two products.

“Sana maresolve na ang issues ng mga ibang brands at magtulungan ang gobyerno at mga brands na ito, importers at manufacturers para may mabenta naman kaming mga retailer,” said the Pecia officer. [I hope the issues of other brands are resolved, and that the government and these brands, importers, and manufacturers can work together so that we retailers have products to sell.]

Aside from the erosion of rev-

tomers in a very efficient manner by channeling such payments to Wells Fargo.”

“With majority of the USD payments being processed straight-

through (no manual intervention), funds are being sent to recipients in a timely manner,” he added. “Wells Fargo was one of the very few US banks that saw the potential of AUB

and confidential text-based mental wellness coaching sessions with a mental health expert of their choice, in their preferred language,” according to FWD PHL.

“Individuals can also freely access mindfulness and financial literacy resources that offer a variety of content to help individuals strengthen their minds, improve their finances, and better their mental wellbeing,” it added.

The firm is also selling to these individuals a 1-year life insurance plan “with customizable benefits for accidental death and critical illnesses associated with mental health conditions including cerebral aneurysm, chronic lung disease, and cancer.”

“Additionally, policyholders get a yearlong subscription for mental health support through the ‘ThoughtFullChat’ app to continue their self-care journey,” it added.

These new services complement a recent FWD study that highlights that a significant majority (63 percent) of Filipinos surveyed recognize mental health as a crucial priority, especially in the face of current economic challenges, according to FWD Life. With the Department of Health reporting that over 3.6 million Filipinos are affected by mental, neurological, and substance use disorders, more mental health resources are needed now, more than ever.

“As the insurer of the next generation, we are committed to offering innovative services that champion the next generation of Filipinos and their mental health, while providing financial security as they build their best future and celebrate living,” Vandenberghe added.

enues, Dulay said vape retailers are also forced to lay off employees or leave the industry. Nonetheless, he expressed hopes the issues on PS marks would be resolved within this month as RA 11900 comes into full effect.

“This is a very important legislation [that] could help the government, consumers and protect the minors,” Dulay added.

Meanwhile, Internal Revenue Commissioner Romeo D. Lumagui Jr. said the government lost P300 million in tax revenues from the crackdown by the Bureau of Internal Revenue (BIR) on vape products the BIR alleges are “illegally” sold in the local market. Lumagui said the BIR has seized 270,000 vape products since it began its crackdown. Lumagui has called for vape industry players to comply with regulations.

Nandito po ang BIR para po tulungan ang lahat ng players na mag- comply at magbayad ng tamang buwis,” the BIR chief added. [The BIR is here to help all players to comply and pay the right taxes.]

and has since supported AUB in the payments business.”

Zita Los Baños, AUB first vice president and head of Treasury Operations, was quoted in the same statement as saying that the award is a result of “the consistent collaboration among our Treasury, IT, and Quality Assurance in ensuring 99.9 percent STP of transactions and with minimal inquiry at 1.4 percent of the volume.”

“Challenges in global payments have been on the rise due to the shift in consumer and business behavioral patterns, enabled by advances in technology and the availability of unconventional payment channels coming to market,” the lender’s statement read. “These challenges include cyberfraud, money laundering and terrorist financing activities that continue to threaten the stability of the banking system as money payments become more complex, and go through several channels before reaching the ultimate beneficiaries.”

BOND traders are beginning to cash out of their bets for a further rally in US Treasuries as they scale back on expectations the Federal Reserve will deliver another half-point interest-rate cut.

The unwind comes days ahead of the September jobs report which will provide the latest read on the health of the labor market. Fed

Chair Jerome Powell on Monday said policymakers will lower rates

“over time” as the US economy remains on solid footing. The remarks triggered the biggest open interest drop since September 6 in 10-year note futures, and yields for that tenor climbed 3 basis points on the day in a signal of traders taking off some long positions.

There’s tension in the market

“between structural longs where profits are getting squeezed versus recent short profits and steepeners,” Citigroup Inc. strategist David Bieber said.

The profit taking is occurring as the swaps market continues to price in diminishing odds of another half-point rate cut at the November Fed policy meeting. Currently, about 34 basis points of cuts is priced into the market, or around a 36 percent odds of another over-sized reduction compared to a 60-percent chance just

a week ago. The past couple of trading sessions in the options market linked to the Secured Overnight Financing Rate, which closely follows central bank policy, has also reflected a similar sentiment as traders start to favor hawkish hedges, targeting just two quarter-point rate reductions over the remaining Fed policy meetings scheduled for the year. According to the latest Commodity Futures Trading Commission data, both asset managers and hedge funds remained net long SOFR contracts, a possible source of the increased demand for options protecting against higher policy rates than current market expectations. Meanwhile, the Treasury

Japan, SoKor, US forge partnership to boost BARMM’s health outcomes

DEVELOPMENT agencies of Japan, South Korea and United States have partnered to boost health outcomes and advance Universal Health Care in the Bangsamoro Region.

They have committed to fund over five years P1.6 billion, or some $29 million, in addition to existing forms of assistance which the three development agencies have provided and will continue to extend to the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)— deemed by the agencies as a “significant step toward strengthening health care in the Philippines.”

Under their Memorandum of Cooperation (MOC) signed on September 27, the Japan International Cooperation Agency (Jica), the Korea International Cooperation Agency (Koica), and the United States Agency for International Development (USAID) will work closely with BARMM’s Ministry of Health (MOH), the Department of Health (DOH), local communities, and other key stakeholders to improve health-information systems; raise public-health financing; pro -

mote good public-health practices; expand quality health-care services; as well as improve access to essential medicines, facilities, and equipment.

The agencies have pledged to effectively and innovatively share their expertise and resources to advance BARMM’s cross-cutting health-system reforms and initiatives.

In his keynote, Amb. Kazuya Endo highlighted the collaboration’s significance among the three countries to promote a more resilient and efficient regional health-care system accessible within BARMM’s community and vulnerable groups. Further, Endo said Japan will focus on improving maternal- and newborn-health services, as well as pursue the region’s improved nutrition. These goals, he shared, are aligned with his country’s long commitment to human security and peace-making efforts within

BARMM, and promotes the “Women, Peace and Security” agenda.

“Together with our partners, we aim to promote a more resilient and efficient regional health-care system accessible to the community and the vulnerable groups within the region,” the ambassador remarked at the signing ceremony at the Philippine International Convention Center. “Our efforts toward a more inclusive and responsive health system reflects Japan’s long-standing commitment to human security and peace-making efforts within the BARMM.”

“[South] Korea’s experience rising from the ashes of war to prosperity drives our commitment to

GPCCI, Arta launch portal enhancing EODB linkage

THE German-Philippine Chamber of Commerce and Industry (GPCCI) has launched the German-Philippine Business Action Portal (GPBAP) during the Economic Forum it organized with the German Embassy, and the German Club last September 11. Key stakeholders at the event included GPCCI president Marie Antoniette Mariano, Sec. Ernesto Perez of the Anti-Red Tape Authority (Arta), and Deputy Head of Mission Matthias Kruse of the Embassy of the Federal Republic of Germany.

“Today’s launch marks a significant milestone in our partnership with Arta,” said Mariano. “The German-Philippine Business Action Portal underscores our dedication to promoting a business-friendly environment that benefits both the private sector and government agencies. We are proud to initiate this platform, setting a precedent for other ARTA champions.”

Simplifying govt transactions

ACCORDING to the GPCCI, the GPBAP is a pioneering platform that boosts linkages among the GermanPhilippine business community and Philippine government agencies. The first of its kind initiated by Arta’s private-sector partners, it is designed to streamline business transactions, gather feedback, and address issues related to government services supporting the “Ease of Doing Business Act.”

The portal allows users to sub -

mit complaints and feedback on their interactions with government agencies, providing real-time insights for reforms. Available in both English and German, it caters to a wide range of businesses in the German-Philippine community. The portal serves as a crucial tool to improve transparency, efficiency, and overall business operations in the Philippines.

“This innovative portal marks a major [leap] in digitizing our country’s business operations and improving efficiency,” stated Perez. “We extend our gratitude to GPCCI for their invaluable partnership, and we believe this initiative will set a new norm for public-private cooperation in enhancing business efficiency.”

GPCCI: Arta champ

GPCCI is proud to be one of the first “Arta Champions:” a designation it received through a memorandum of understanding signed in November 2023. This designation solidifies its commitment to actively supporting government efforts to reduce red tape and enhance ease of doing business in the Philippines.

GPBAP’s launch further demonstrates the chamber’s leadership by being the first chamber to initiate a platform that enables real-time communication among businesses and government agencies.

With the portal’s launch, GPCCI and Arta reaffirm their commitment to the continued success of the initiative, and improving the local busi-

ness environment.

The event also featured a live demonstration of the platform by GPCCI Policy and Advocacy chair Dr. Marian Majer. The official highlighted its user-friendly interface and features. Attendees were encouraged to explore the portal and experience firsthand the ways it simplifies the submission of feedback and concerns.

“This platform reflects our unwavering commitment to fostering a more transparent and efficient business environment for the German-Philippine community.” said Dr. Majer. “Our aim is to support businesses by providing a streamlined process that helps drive government accountability and enhances the overall ease of doing business in the Philippines.”

The event concluded with a message from the German Embassy, which has also been a strong supporter of the portal. The deputation emphasized its role in strengthening economic relations between Germany and the Philippines.

“The German Embassy is thrilled to witness this initiative come to fruition, and [anticipates its positive impact] on both the private sector and government interactions,” mentioned Deputy Head of Mission Mathias Kruse.

“We look forward to seeing the continued development and success of this platform—confident that it will serve as a catalyst for even greater advancements in business efficiency and collaboration.”

supporting peace and development, reflected in our 30-percent increase in official development assistance, and a 48-percent boost in [our agency’s] budget for 2024,” Koica vice president Kim Dong-ho remarked.

“Through this unprecedented partnership, Koica will play a crucial role in delivering vital maternal- and child-health services, strengthening health systems, and improving emergency readiness.”

“Through this partnership, we envision a future where mothers and their children are in the care of highly capable professionals; where [tuberculosis] patients receive treatment; where young adults receive culturally sensitive reproductive-health

services; and where families are protected from infectious diseases and pandemic threats,” Amb. MaryKay Carlson of the US averred.

This cooperation marked the first partnership in health in the AsiaPacific Region among the development agencies of the governments of Japan, South Korea (Republic of Korea), and the US. Minister Sang Seung-Man of the Embassy of South Korea also witnessed the signing.

Areas of assignments

EACH agency will have a unique focus and expand their priority health programs in BARMM. Jica will advance maternal and newborn health and nutrition, bolster community health services, aid listing in facilitybased deliveries under the Philippine Health Insurance (PhilHealth), and facilitate contribution to gender mainstreaming.

Meanwhile, Koica will enhance sustainable health financing through PhilHealth, provide culturally sensitive maternal care, upgrade facilities and equipment, and boost emergency preparedness with the DOH-certified Field Epidemiology Training Program.

For its part, USAID will strengthen health systems, enhance the delivery of family planning, adolescent reproductive health and tuberculosis programs, while improving preparedness and response to emerging health threats.

“This collaboration reinforces the shared journey of DOH, BARMMMOH, USAID, Jica and Koica toward our vision of Universal Health Care and the [United Nations’] Sustainable Development Goals for health— including quality service delivery, health-care financing, health governance and health regulations,” Health secretary Dr. Teodoro Herbosa added.

“The [MOC is a call to action and a commitment to harness our organizations’ synergy] to create a healthier, more equitable, and more prosperous Bangsamoro, with an end in mind to build a stronger Philippines,” implied Dr. Kadil Sinolinding Jr, who is BARMM’s health minister. “By working together, we can amplify our [unified] action, enhance our efficiency, and ensure every peso, dollar, won, and yen invested shall translate to tangible improvements in people’s health and quality of life.”

Also, the strategic partnership will more effectively provide training and aid to local governments and communities in expanding health outreach to vulnerable populations, laying the foundation for BARMM’s long-term stability and prosperity. Efforts of the three agencies also support the UN Security Council Resolution 1325 on “Women, Peace, and Security.”

Deposit-return system set to accelerate PHL circularity

THE Royal Norwegian Embassy, the Department of Environment and Natural Resources (DENR), Deutsche Gesellschaft für Internationale Zusammenarbeit (German Agency for International Development, or GIZ), and World Wildlife Fund (WWF) hosted a workshop on September 24 centered on the continued promotion of the inception of the deposit-return system (DRS) as a complimenting mechanism for extended producers responsibility (EPR) in the Philippines.

The workshop follows last year’s edition, in line with the Philippines goal to achieve its target of 80 percent plastic waste recovery by 2028. The DRS can boost the country’s circular economy, where consumers can refund deposits from plastic products upon the return of their packaging at an accessible collection point.

DRS is a high-performing recycling scheme that incentivizes consumers for returning packaging and containers. The system is a proven and tested model to have accelerated circularity of beverage containers up to 90 percent. It is currently implemented in more than 60 markets all over the world—including countries in Europe, Oceania, Africa and the Middle East, states in America and Australia, as well as, provinces in Canada. DRS is influencing consumer behavior toward solidwaste management by encouraging consumers to return beverage bottles.

“The DRS is deeply rooted in Norwegian society,” said Amb. Christian Halaas Lyster of Norway, as he highlighted the system’s importance to his country’s circular economy and its development: “Norway is one of the first… to have set and implemented the DRS… Its success resulted in a very impressive return rate of 92.8 percent of plastic bottles throughout the country today.

We are confident that the introduction of closed-loop solutions would be an effective response to the waste challenges of the Philippines.”

Undersecretary Atty. Analiza Teh of the DENR shared the department’s drive to collaborate with civil-society partners in creating a sustainable DRS program, and eventually scale it up.

‘Mitigating the plastic menace’ THE workshop issued the “Phase 1 Feasibility Study” which aims to finetune DRS mechanism for the Philippines, and sets the tone on ways it would fit in terms of social dynamics, economic development, and available infrastructure in context. Its implementation can vary from one place to another, while the feasibility study is an approach to tailor-fit the design of the circularity to its setting.

Said workshop also was an avenue for discussions to share best-practices with the Philippines from among high-performing DRS-practicing countries such as Norway, Germany, Australia and Estonia. The feasibility study was conducted by international consulting agency Earth Care based in the latter, and was funded by the Royal Norwegian Embassy in Manila for its first two tranches.

“The DRS’ success key is a simple message to the consumer: Each beverage package has mon -

etary value, and therefore needs to be returned. Different [DRS are unique, so is the potential of the Philippines executing best practice systems with] vital elements such as not-for-profit, versatile collection infrastructure, foodgrade recycling of collected packages, and green economy-created jobs, among others,” said Earth Care consulting partner and consultant Rauno Raal.

TOMRA’s vice president for Public Affairs and System Design in Asia Lovish Ahuja shared that the “Philippines government’s decision to roll out [the ‘EPR Act of 2022’] is testimony of its commitment in resolving the gauntlet of plastic pollution. This will go a long way in promoting circularity into action and contribute toward larger goals of Sustainable Development—including climate change.”

Ahuja continued that the DRS is an established and potent tool in mitigating the menace of plastic containers such as polyethylene terephthalate, or PET, and other packaging types for beverage applications. DRS is known for achieving the highest collection for beverage containers such as PET, metal cans, glass and liquid paper board, compared to any other EPR scheme. It also acts as a catalyst for promoting the recycling sector by generating clean feedstock in a required volume. For an archipelago like the Philippines, economy of scale is a pivotal element for promotion and feasibility of the recycling sector. According to the Norwegian Embassy, this is where DRS will come handy with a proven highest collection rate. The embassy funds the second phase of the feasibility study for the DRS program, with support from WWF. It is setting the target for pilot project approval and implementation for the first DRS pilot site by 2025.

HEALTH secretary Dr. Teodoro Herbosa (standing, from left), Amb. Endo Kazuya, Minister Sang Seung-man, and Amb. MaryKay Carlson witness the MOC signing among BARMM-MOH and the development agencies of Japan, South Korea, and the United States: minister Dr. Kadil Sinolinding Jr. (seated, from left), chief representative Sakamoto Takema, country director Kim Eun-sub, and mission director Ryan Washburn.

AMB. Christian Halaas Lyster

STAKEHOLDERS from GPCCI and Arta display the portal running on various devices.

&Expats

Envoys&Expats BusinessMirror

THEMATIC EXHIBITION IN CELEBRATION OF THE 75TH ANNIVERSARY OF THE FOUNDING OF THE PEOPLE’S REPUBLIC OF CHINA

REMARKS BY CHINESE AMBASSADOR HUANG

XILIAN AT THE EVENT OF THE 11TH CHINESE CULTURAL COURIER @ THE PHILIPPINES

YOUR Honorable Mr. EDUARDO DE VEGA, Undersecretary of Philippine Department of Foreign Affairs,

Your Honorable Mr. YIRU LETU, Head of Inner Mongolia Delegation,

Your Honorable Mr. DANTE CHUA, Chairman of the Federation of Filipino-Chinese Association of the Philippines, Distinguished Guests, and Dear Members of Chinese Communities, Ladies and Gentlemen,

Mabuhay! It is my great pleasure to be here again for this episode of the Chinese Cultural Courier @ the Philippines, joining you all to relish and delve into the vibrant tapestry of Chinese culture.

On behalf of the Embassy of the People’s Republic of China, let me begin by extending a warm welcome to Chinese delegation from the Inner Mongolia. Alongside my hearty greetings and good wishes to everyone in attendance today, I want also to thank the China Federation of Literary and Art Circles, the Federation of Filipino-Chinese Association of the Philippines and other stakeholders who have made this event possible.

The 3rd Plenary Session of the 20th CPC Central Committee convened not long ago, has outlined efforts for further deepening reform comprehensively to advance Chinese modernization. It is nothing less than China’s commitment to continuous reform and opening-up, and the pulse the country stays on to promote highquality development and high-standard opening-up as well.

In this context, China is consistent in embracing the world with a more open posture. There are stronger connections with the rest of the world thanks to expanding visa-free access and implementation of the 72/144-hour visa-free transit policy for 54 foreign countries. China recorded 14.64 million inbound trips by foreigners in the first half of this year, up by 152.7% year on year. Lately, various travel videos tagged “China Travel” have gone viral on social media, which leads to increasing exposure of China’s unique charm, and more importantly, an open and inclusive Chinese society and the hospitable Chinese people. This is happening because of aspiration for mutual understanding and exchanges not only between peoples but also across civilizations.

Thriving on both vast land and sea, China has been a multiethnic country, with a rich heritage of its own civilization based on agricultural, nomadic and marine lifestyles. Since its inception early in 2022, the Chinese Cultural Courier @ the Philippines has presented about 10 amazing theme activities, showcasing some highlights of Chinese civilization that include Minnan culture, Wuyue culture and Zhongyuan culture, etc. Now, the focus has been shifted to the beautiful and endless grassland of the Inner Mongolia, where local people boast of their own cultural excellence, a cherished distinctiveness born and bred in the nomadic environment through the ages. Prioritizing eco-environmental conservation and pursuing green development, Inner Mongolia has undergone transformations over past years. It has turned barren deserts into oasis while still driving the growth of the regional economy, enabling itself to serve as the forefront of China’s opening-up in the Eurasian hinterland.

This evening, the Ulan Muqir will take center stage, and bring closer to us the grassland culture through dancing, singing, playing instrument and photography. There is an ongoing effort to present this region’s latest development to the Philippines, and enable more Filipinos to get a real feel of ethnic diversity in China.

Without further ado, let’s enjoy the show, and I wish all of you a pleasant evening here.

Thank you!

H.E. Ambassador Huang Xilian addressing the Chinese Cultural Courier @ the Philippines.

Ethnic folk shows presented through singing, dancing and playing instrument.

H.E. Ambassador Huang Xilian (central) posing for family photo with dignitaries and performers at the end of the said event.

Health& Fitness

Bridging digital divide to help increase family planning awareness–study

By John Eiron R. Francisco

As social media use continues to surge in the Philippines with 86.75 million users, or 73.4 percent of the population, active in early 2024, it begs the question: can these digital platforms play a transformative role in family planning (FP) awareness?

a recent study by the c ommission on Population and d evelopment (c Pd) and Bayer Philippines i nc. investigated this possibility, analyzing the impact of family planning content shared on social media platforms among men and women aged 18 to 49. a mong 1,336 respondents (650 from c Pd and 686 from Bayer), 71.24 percent of c Pd respondents and 78.99 percent of Bayer respondents found digital initiatives on Facebook, YouTube, and TikTok with c Pd ’s “ Usap Tayo sa Family Planning” page and the Bayer Philippines “a sk Mara PH” page very helpful for family planning.

However, the findings also indicated that a small percentage, 4.44 percent (c P d) and 0.81 percent (Bayer), felt these resources were unhelpful. a dditionally, while 14.86 percent (c Pd) and 9.09 percent (Bayer) rated them as moderately helpful, there remains a notable gap in digital literacy that hampers effective usage.

Transformative potential

T H e S e findings, which were presented to the media and guests by c Pd a cting d ivision c hief Mylin Mirasol Quiray, prompted Kevin d e Vera, d irector for Program and a dvocacy at The Forum for Family Planning and d evelopment

i nc., to highlight the transformative potential of online platforms.

He said that traditionally, family planning advice was sought from female relatives. However, digital platforms are now fostering gender equality by giving both men and women easy access to life-saving family planning information.

d e Vera said findings from the study

indicate that many users felt motivated to seek family planning services and products after engaging with relevant content on these platforms. However, he raised concerns about the motivations behind this interest. “The primary reason is exploration,” he stated, noting that while curiosity is encouraging, it is also troubling.

Globally, nearly half of all pregnancies are unintended, according to the u nited n ations Population Fund, with around 12 million unintended pregnancies occurring annually. i n the Philippines, while the total fertility rate has been declining, the country still ranks 56th out of 160 nations for unintended pregnancies. This issue is further compounded by the rise in adolescent pregnancies, with over 56,574 live births among minors in 2022, up from 50,790 the previous year.

Moreover, the study reveals a notable divide in FP methods among respondents from the c P d and Bayer Philippines. a mong c P d respondents, 60.69 percent reported using natural methods, such as withdrawal and periodic abstinence, along with various folk practices, while 39.31 percent opted for modern artificial methods, which include short-term options like pills and condoms, long-term solutions like injectables and implants, and permanent methods like sterilization. i n contrast, Bayer respondents showed a more balanced preference, with 50.42 percent using modern artificial methods and 49.58 percent relying on natural methods.

High conversion rate a ddi T iOnallY, the study highlighted

a high conversion rate for FP consultations and counseling, with 77 percent to 79 percent of participants seeking advice and 92 percent to 96 percent adopting some form of family planning. a mong the respondents, a majority of those from the c Pd sought services at private clinics (68 percent), while Bayer respondents preferred public health facilities (61 percent). This shift in preferences may be attributed to targeted boosting strategies on Facebook that influenced where individuals chose to seek care.

c onsultations and counseling were primarily provided by physicians, with oral pills and condoms being the most preferred methods, available at both public health facilities and pharmacies. More complex procedures, such as the insertion of progestin subdermal implants and intrauterine devices ( iud s), were predominantly performed in public health facilities, underscoring their critical role in providing access to comprehensive family planning services.

d espite a strong likelihood of continuing with their chosen methods, many individuals cited reasons for not utilizing family planning options. These include need for more information or time to make a decision, difficulty in locating preferred healthcare facilities, affordability issues, and the necessity to discuss options with their partner.

Digital literacy gaps

de SPi T e the growing reliance on social media for family planning information, significant challenges persist. a ngel Michael e vangelista, Managing d irector of Bayer Philippines i nc., acknowledged the potential of digital platforms to disseminate expert-led content but highlighted their vulnerability to misinformation, especially in critical areas such as reproductive health and family planning, where inaccuracies can have serious consequences.

i llustrating this point, d e Vera, likened the situation to a pot on the stove, explaining that if someone knows a pot is hot, they wouldn’t put their hand in it.

“That is the power of information. The choices individuals make about

MBy Claudeth Mocon-Ciriaco

The Department of h ealth (DO h) is expediting the procurement of flu vaccines, reiterating the importance of prevention, including regular hand washing, proper mask-wearing in crowded places, and timely vaccinations.

These practices are vital for reducing infection risk as flu season continues, the DO h said. Furthermore, the department highlighted the need for early consultation and reporting of cases to prevent potential complications.

“While the nationwide decline in flu-like cases is a positive sign, we must remain proactive. We cannot afford to be complacent. Prevention, early detection, and vaccination are our strongest defenses against this illness. Together, we can protect our families and communities towards our journey to a Bagong Pilipinas kung saan Bawat Buhay Mahalaga,” said h ealth Secretary Teodoro J. h erbosa.

ILI cases

The DO h reported a total of 117,372 Influenza-like Illness (ILI) cases from January 1 to September 14, 2024.

This is 15 percent lower compared to the 137,980 cases recorded during the same period last year. The DO h emphasized that prevention is needed to sustain this downtrend.

A total of 126 deaths due to ILI were reported from January to September 14, 2024, representing an 11 percent reduction in fatalities compared to the 142 deaths during the same period in 2023.

eg AWO r LD Lifestyle Malls has announced a landmark partnership with The Medical City to enhance health services on the island of Boracay. This collaboration will establish a medical facility within the Newcoast Beachwalk property, located inside Megaworld’s Boracay Newcoast township. The partnership was formalized with a ceremonial signing. r epresenting Megaworld Lifestyle Malls were Alliance g lobal g roup Inc. Chief e xecutive Officer Kevin Tan, First Vice President and h ead g raham Coates, and Assistant Vice President and Cluster g eneral Manager of Boracay Newcoast Vanessa Vicente. The Medical City executives were led by Chairman Jose Xavier g onzales and Chief Strategy Officer Christopher Delos r eyes.

This highlights the company’s dedication to delivering world-class healthcare services to both residents and visitors of

Boracay. Through this partnership, the community will gain access to a comprehensive range of medical services, including emergency care, outpatient services, and specialized treatments.

“Boracay has a need for more healthcare facilities that can cater to the needs of its population and tourists from around the world. By establishing a state-of-the-art medical clinic in the island, we are taking a significant step towards ensuring that Boracay is not only a world-class destination for leisure but also able to provide the best healthcare and safety for its community,” said Coates.

Clinical excellence

The Medical City is renowned for its clinical excellence and state-of-the-art facilities and will bring its extensive medical expertise and innovative healthcare solutions to the island.

their health, future, and families are profoundly influenced by the information they receive—or, in many cases, the information they lack,” he said.

However, d e Vera raised additional concerns, noting that although social media exposure significantly impacts the contraceptive decisions of Filipino women and men, not everyone in the Philippines has reliable internet access.

“Many young people still do not have access to accurate, timely information on reproductive health. This isn’t just about physical access to technology; it’s also about understanding how to find, verify, and act on information they encounter,” he said.

The study emphasizes that socioeconomic barriers, along with cultural sensitivities, further limit the effectiveness of family planning communication.

Bridge the digital divide e x Per TS in the field urge the national government, n GOs, and civil society to address these gaps and bridge the digital divide.

“We need to invest in expanding not just the available resources in our d epartment of e ducation ( d ep e d), but also includes digital infrastructure, particularly in rural areas so that no young person is left behind,” he said.

He emphasized the need for digital literacy initiatives that empower young people to navigate online spaces safely and effectively. Moreover, he advocated for integrating comprehensive sexuality education both online and offline to give young people a well-rounded understanding of their reproductive health.

“We want a future where information poverty no longer prevents a young person from accessing family time services and where the digital divide is nothing but a memory of a past we have overcome. But the future will only come if we act now,” d e Vera concluded.

a nd this aligns with the call from the c Pd nGOs focused on family planning, and private sectors for the approval of Senate Bill n o. 1979, also known as the Prevention of a dolescent Pregnancy a ct of 2023.

“The Medical City wants to address the need for proper healthcare in Boracay Island, for its tourists and its community. We are very committed to health care quality. We have been a Joint Commission International (JCI) accredited hospital since 2005, and we have a strong medical travel market, right now oriented towards Micronesia, so we have a good feel for what it takes to take international customers in,” g onzales.

Boracay, famous for its stunning beaches and tourism, will now benefit from enhanced medical services that align with global standards. This development is set to boost the island’s appeal as a premier destination that also prioritizes the health and safety of its inhabitants and visitors.

Newcoast Beachwalk is a premier Megaworld Lifestyle Malls nestled on the pristine shores of Boracay Island. This vibrant beachfront destination offers shops, restaurants, and cafes of renown, all designed to enhance the beach paradise experience of its visitors.

For more information and updates on the latest happenings, follow their social media accounts on Facebook ( https://www. facebook.com/boracaynewcoastofficial ) and Instagram (@sboracaynewcoastofficial).

hospital in the NC r to have this package.

It is also the pioneer institution under the enhanced Phil h ealth breast cancer Z Ben package, which increased the financial assistance of patients from P100,000 to P1.4 million. With the awarded package to the institution, CSMC aims to accommodate more patients by giving outstanding care.

For inquiries about the Breast Cancer Z Benefit package, contact the Breast Clinic at 8727-0001 ext. 2116. Their office is available from Monday to Friday, 9:00 a.m. to 5:00 p.m., and Saturdays 9:00 a.m.to 12:00 p.m.

Editor: Anne Ruth Dela Cruz

Medical community backs reinstatement of school-based HPV immunization program

By Candy P. Dalizon Contributor

Medical professionals and health advocates are rallying behind the reinstatement of the School-based i mmunization Program (SB i P) targeting girls aged nine to 14 for HPV vaccination to combat cervical cancer.

cervical cancer remains a pressing public health issue in the Philippines, claiming 12 women’s lives daily. Health experts agree that this initiative is crucial to address this problem.

The d epartment of Health ( d OH) earlier announced that the nationwide school vaccination program for public schools will commence on October 7, 2024. Through the program, the d OH, in partnership with the d epartment of e ducation ( d epe d) will be giving vaccines to students from Grades 1 to 7. These include vaccines for human papillomavirus (HPV), measles, rubella, tetanus and diphtheria. The HPV vaccines will be administered specifically to Grade 4 female students to prevent potential cervical cancer.

a ccording to the World Health Organization (WHO), cervical cancer is highly preventable through vaccination against HPV, the leading cause of this disease.

d OH and d epe d are working together to ensure that health education and vaccination efforts reach children where they are—at school. d r. c armina Vera, Medical Officer i V of the d OH, highlighted the importance of this partnership.

“We aim to identify eligible populations to ensure equitable access for the most vulnerable groups in the country. By administering vaccines in schools, we can implement health education and collect parental consent more effectively,” said d r. Vera.

Isang Boses Laban sa Cervical Cancer durinG the recent media forum titled “ i sang Boses l aban sa c ervical c ancer” hosted by the Philippine Foundation for Vaccination (PFV), various medical societies have come together to emphasize the importance of HPV vaccination.

r epresentatives from various medical groups presented their unified response and commitment to eliminate cervical cancer in the Philippines. Their statements highlighted a shared dedication to increase vaccination rates, improve screening programs, and provide accurate information about HPV and cervical cancer.

“The Foundation supports the reinstatement of the School-Based i mmunization Program to prevent cervical cancer and meet WHO’s 90 percent coverage target. We advocate for a coordinated national and local effort to prevent cervical cancer through vaccination, screening, and improved treatment access,” said d r. l ulu Bravo, PFV e xecutive d irector.

d r. Mildred Manalac-Mariano from the Philippine Medical a ssociation (PM a ) stated, “We support the promotion of the importance of vaccination against the human papillomavirus to prevent cervical cancer and decrease the cases.”

d r. Martha Millar- a quino of the Philippine i nfectious d isease Society of Obstetrics and Gynecology (Pid SOG) pledged, “We are dedicated to implementing comprehensive strategies to tackle this disease head on. We pledge to increase the screening rates among women.”

d r. Kristine Bajandi, Philippine Society for Microbiology and i nfectious d iseases (PSM id) added, collaborative efforts among stakeholders are essential to ensuring access to cost-effective vaccines to protect future generations from vaccine-preventable diseases.”

d r. d eborah r ed from the Soci -

ety of a dolescent Medicine of the Philippines (S a MPi ) and Philippine Society of a dolescent Medicine Specialists (PS a MS) affirmed, “We commit to provide accurate information on HPV vaccination to healthcare providers, adolescents, and parents.”

d r. Therese Mallen of the Pediatric and a dolescent Gynecology Society of the Philippines (PaGSPH il) highlighted the need for empowerment through education, stating, “We advocate for empowerment of adolescents through early comprehensive reproductive health education and awareness about cervical cancer and HPV.”

Finally, d r. Joan Millonado and d r. Margaret a lfonso from the Philippine a mbulatory Pediatric a ssociation (Pa Pa ) expressed optimism about ongoing health literacy initiatives.

“Through these initiatives, such as our continuing medical education activities, we are moving a few steps closer towards our goal of achieving cervical cancer elimination and promoting health across all populations,” said d r. Millonado.

Wider HPV Genotype Protection Urged durinG the forum, the importance of comprehensive education about HPV and cervical cancer was also discussed since many parents remain unaware of the critical role vaccination plays in preventing the disease.

d r. Orlaud Tantengco from the deFeaT HPV study likewise shared his insights.

“HPV viruses can be categorized into different types, much like a family tree. HPV 16 and 18 are among the more aggressive strains, classified as high-risk types because they are more likely to lead to cervical cancer. However, our study showed that HPV 52 was the most prevalent genotype,” said d r. Tantengco.

The de F eaT HPV study aims to determine the molecular epidemiology and natural history of HPV infection among reproductive-age Filipino women using a communitybased prospective cohort design.

d r. i ngrid Magnata, Jhpiego c ountry Program Manager, emphasized “the HPV vaccine has been available since 2006, and it was introduced in the public sector around 2014.” However, experts urged the government to aim for protection against a wider array of genotypes.

“We support the use of a costeffective HPV vaccine that targets the most number of prevalent and emerging types, and advocate for catch-up vaccinations for girls who missed previous doses,” d r. Bravo added.

Broader protection

T H e 9-valent HPV vaccine which offers broader protection against emerging high-risk HPV genotypes (including HPV types 31, 45, 52, and 58) has yet to be integrated into the national immunization program. The 9-valent vaccine, already available in private healthcare settings since 2017, is said to be a crucial component in the country’s cervical cancer prevention strategy.

d r. Vera explained that the process of procuring vaccines involves a lot of in-depth reviews and studies.

“So as part of the process in the procurement of vaccines by the department, we only roll out, we procure vaccines which have regulatory clearance from our health technology assessment facility. a nd we also ensure that there is a proper pre-qualification to the database.”

“Once the vaccine has received its regulatory clearance from our authorities, then we can conduct further studies and other situational analysis to incorporate the said vaccine. a lso, we account for the cost of the vaccine. So again, if it takes a lot of review and studies,” said d r. Vera.

PAGHIloM sa Pagkain, a friendly community cook-off, gathered members of indigent Filipino families in a showdown of creativity and ingenuity.

The competition challenged constituents from Barangays 43, 44, 45, 46, and 48 of Pasay City and Barangays 730, 733, and 746 of the City of Manila to prepare a set meal complete with soup, main dish, and dessert or drink within the provided budget of P500.

Organized in celebration of the National Nutrition Month, the initiative was hosted by the Center for Social Action of the De la Salle-College of Saint Benilde (DlS-CSB) in partnership with the School of Hotel, Restaurant, and Institution Management (SHRIM)

The participants were guided by some students from the Nutrition and Wellness laboratory class of Athena Rueda Tiglao, RND, a SHRIM culinary nutritionist.

The entries were meticulously screened based on meal planning and food costing, food safety practice and mise-en-place, taste and consistency, nutritional value and content, and teamwork.

Among the eight participating teams, Barangay 44 Pasay City emerged as the Grand Winner. The group, which was composed of Althea Ofalla, Diane ofalla and Gio Vincent Micaroz, presented a nourishing serving of pumpkin soup, tortang okoy (shrimp fritters), and kamote turon (sweet potato spring rolls).

Barangay 746, City of Manila, comprised of John Blitzen Bonifacio, Mary Rose Quiambao and Karen Julia Inesoria, secured second place. Their menu included malunggay (moringa) soup with egg, buttered garlic fish fillet with vegetables on the side, and palitaw (glutinous rice dumplings with coconut and sesame seeds).

Barangay 46, Pasay City landed third place. Shrelyn Erno, Kurt Acelyn Tinao and Analito Castillo arranged a wholesome plate of banana blossom mushroom steak with potato carrot soup and sweet potato bites.

The panel of judges was comprised of industry experts Josefina Gonzales, RND, from the Food and Nutrition Institute (FNRI); Maria Victoria lucasan, RND, MBA; chef Shirley Joseph; and Benildean Parents in Action (Be-PIA) president Rosalie Pañares.

The winners received cash prizes from Be-PIA.

Parentlife

Makati Medical Center celebrates wins at investors in People Philippines Awards inDiGent fAMilies sHowCAse inGenuit Y in CoMMunit Y Cook-off

lEADING health institution Makati Medical Center (MakatiMed) continues to lead the way in promoting sustainable healthcare practices and investing in its workforce, as it received the Social Responsibility Award and was named Runner-up for People Investor of the Year at the Investors in People (IIP) Philippines Awards recently.

The Social Responsibility Award reflects the hospital’s ongoing efforts to positively impact both society and the environment. Through its Environmental, Social and Governance (ESG) Council, MakatiMed has driven hospital-wide sustainability projects. Among its most notable programs is the Sustainable Waste Management initiative, which has increased the hospital’s waste diversion rate to 27 percent by Q1 2024, diverting 49 metric tons of waste from landfills. MakatiMed’s partnership with Plastic Flamingo (Plaf) also made a big contribution to environmental

Bless Aubrey Ogerio

CRoWNING glory is not just a dream, but a legacy. The country has solidified its reputation as a beauty pageant powerhouse, consistently ranking among the elite in international competitions, as highlighted in the top spots of a beauty pageant analysis organization on September 21. With an impressive total score of 15,574 in Missosology’s Big 5 Ranking, the Philippines clinched the third overall position. The country’s strong performance is reflected in its scoring breakdown: 4,000 points from Miss Universe, 2,820 from Miss World, 4,580 from Miss International, 2,974 from Miss Earth, and 1,200 from Miss Supranational.

Notable winners include Pia Wurtzbach (Miss Universe 2015), Catriona Gray (Miss Universe 2018),

Diary of a mom with no limits: Our stories of wisdom, love and play–Part II

LAST week I started to share stories and lessons from my dad as a tribute and also as a source of inspiration. This week, let me continue with my other stories of wisdom, love and play with my dad.

LEARN AND BE GRATEFUL TO MENTORS

MY dad had two mentors in his life—Henry Sy Sr. and Kaypee Yao. Since I was a child, he would share how his mentors opened his world to business, to operational work, and even to the value of traveling

the world. He shared how his full trust in them—with just doing what they say, even when he did not fully understand why—brought him to experiences that paved the way to all he has built today. My dad’s face would light up the same way whether it was a story about him learning how to pack boxes from heaviest to lightest on top in SM; or how he went all around the Philippines putting up Zenco footsteps stores; and even when he had a car accident riding an owner jeep and dislocated his shoulder. Even when he had his own business already, he continued to seek advice and then shared those with us, so we could all work together to make things happen.

BE READY FOR NEW OPPORTUNITIES AND FAILURES

stewardship, ensuring that non-hazardous plastic waste is repurposed into eco-friendly materials. In addition to its environmental efforts, MakatiMed has been recognized for investing in its people. The hospital fosters a workplace culture that values employee engagement and well-being through initiatives like the Earth Day Celebration and ESG Week which encouraged eco-friendly activities and employee participation. The hospital also raises awareness on the health impacts of climate change through its ESG Webinar Series, with topics aligned with the Sustainable Development Goals (SDGs), and regularly engages its 600-plus participants, including employees, partners, and stakeholders, in critical discussions on health and sustainability. Makati Medical Center’s accolades from the IIP Awards affirm its dedication to creating a sustainable, people-first workplace that benefits both its employees and the community.

Megan Young (Miss World 2013), Kylie Verzosa (Miss International 2016), and Karen Ibasco (Miss Earth 2017). At the top of the rankings, the United States retains first place with an impressive score of 22,606, followed closely by Venezuela in second place with 20,516. other notable countries in the top 10 include Brazil (4th, 15,059), Colombia (5th, 14,762), India (6th, 12,277), Australia (7th, 11,913), Spain (8th, 11,227), Japan (9th, 10,575), and Finland (10th, 10,480).

RISING COMPETITION

CoMPETITIoN is increasing, particularly from fellow Southeast Asian nation Indonesia, which has made significant strides by securing two Big 5 titleholders— Harashta Haifa Zahra at Miss Supranational 2024 and Kevin lilliana at Miss International 2017. Indonesia is now holding 42nd place with a total

THE picture above shows the very first computer our office ever had back in the late 1980s. He continuously pushed for new systems as our business was growing. I remember how he emphasized the importance of speaking Fukien. He would not reply when I spoke to him in any other language. It was frustrating then, but when I started going to buying trips in Fujien province and was able to converse so easily with suppliers, I was so grateful for his firm resolve to prepare us for our future. After two years of law school, I really wanted to improve our human resource management. We only had an administrative department then. I was really not sure how he would take my proposal, so I worked hard and did my research. When I finally found a consulting firm, referred by my uncle Ronald Chua, I worked with them with a comprehensive proposal and presented this to him. He supported this and paved my way of loving the field of human resources. Hence, thanks to him, I bear the attitude “Bring it on!” whether for myself, my family or our business.

BE A RAINY-DAY FRIEND

MY dad always told me that it is more important to be there when your friends are down, than when things are going well. He taught me that friendships and relationships should be true and unconditional. More than that, it should go beyond status or wealth. I saw how my Dad would bend over backwards for people who meant a lot to him—be it an old friend or even the children of his cousins—and all while doing this without broadcasting to people. It is no wonder how my dad has friendships that span over even 60

score of 4,455. Although still behind the powerhouse countries, their standing reflects significant progress, particularly with notable performances in recent years. Their scoring breakdown reveals 650 points from Miss Universe, 1,160 from Miss World, 1,120 from Miss International, 400 from Miss Earth, and 1,125 from Miss Supranational.

HOLDING STRONG IN the battle for the Top 10, Finland has surprisingly managed to cling to its position, currently ranking above countries like South Africa, France, Puerto Rico, and Mexico. Considered an old powerhouse, Finland has accrued points in the rankings from its glory days in the 1960s to 1970s.

It currently ranks 10th with a total score of 10,480, which includes 3,110 points from Miss Universe, 2,690

years. My ninong Jone Wong was his buddy since he was in his 20s, even if ninong was maybe more than a decade his senior.

YOUR DECISIONS

TRUST

MY dad has taught us to do our “homework” diligently and meticulously. Whether it was in school, a simple task or a complex situation. He also wants me to always be equipped with information. His staple resources—newspapers. Then he said that when you are faced with an opportunity or an issue, you can make that quick decision and trust it. This was how he decided many of his ventures, whether big or small. I remember in our trip to Germany before the pandemic. We saw so many brands of strollers. Then we landed on a fairly new brand, called Kinderkraft, where the European owner spoke to us and personally demonstrated each product. He would usually allow me to make the choices already, but he suddenly said, “Get this brand!” Today, Kinderkraft is the Top 2 midpriced stroller brand in Europe.

WORK LONG-TERM AND WITH PURPOSE...IN

ALL ASPECTS

MY dad has always seen things farther than most. He dreamed big at 17 and embraced hard work. He taught us the harder lessons early for us to take on more. Later he saw the inevitable and did all he could to protect his family. Today, my dad’s legacy stands firm and full of benevolence. What is his ultimate legacy? That his family’s well-being comes first so they can bear the wealth and wisdom to do better for the work and purpose he has built for us. We are so proud on how he established his ARFI (ASY Richphil Foundation Inc.) during the pandemic. He started small with a few scholars then helped infrastructure in smaller schools. Today, he has over 20 and still growing in number, as well as projects.

HAVE FUN

I COULD remember how my dad would repeatedly share his priceless memory of watching movies with his only brother, Alejo, beside their dad’s textile shop Reliance Emporium. He would share how he loved sharing Johnny Walker whisky with his work buddies. He shared this thought of always knowing how to have fun with us. So, when he heard I could take 20 shots of tequila, you could see his proud eyes, because he was the one who taught me how to hold my liquor even at a young age. n

from Miss World, 4,200 from Miss International, 230 from Miss Earth, and 250 from Miss Supranational. Although its last placement at Miss Universe was a second runner-up finish by lola odusoga back in 1996, and its last semifinal finish at Miss World was nearly a decade ago, it remains a strong competitor at Miss International.

This year will serve as a litmus test for Finland’s continued relevance in the pageant scene. All eyes will be on Matilda Wirtavuori, the reigning Miss Suomi, as she competes for the title of Miss Universe 2024. With strong performances anticipated from her runners-up, it will be intriguing to see if Finland can maintain its top 10 status this year.

Missosology is a renowned beauty pageant analysis organization that provides comprehensive rankings and evaluations of contestants from various international beauty competitions.

Tamayo, Manhit gain top seeding; JPGT Match Play Finals unwrap

BRITTANY TAMAYO and Race Manhit were impressive with one-under-par 71s in scorching and challenging conditions at The Country Club in Santa

will face No. 7 Casedy Cuenca, who scored a 97. Other quarterfinals pairings were No. 3 Rafella Batican (79) against Quincy Pilac (84) and Maurysse Abalos (80) against Kelsey Bernardino (84). Tamayo, 12 and a student at Notre Dame Marbel University, remained humble about her comeback but expressed determination for the headto-head phase.

“I will focus on my game and play for par,” she said. In the boys’ side, Pasig City’s Manhit secured the top ranking with a steady performance on a course he calls home.

The Ateneo grade-schooler broke a one-birdie, one-bogey streak on the back nine by carding two consecutive birdies from No. 1, although a bogey on the tough par-4 ninth hole tempered his 35-36 scorecard.

His 71, however, was enough to edge Ralph Batican, who finished with a 73. Ryuji Suzuki (74) and Vito Sarines (75) secured the third and fourth spots, respectively, followed by Jared Saban (79), Javie Bautista (82), and Inigo Gallardo (84).

Unfortunately, Kurt Flores had to withdraw due to injury after six holes, giving Manhit a free ride to the semis, while Saban and Sarines fight it out in the quarters, while Suzuki faces Bautista, and Batican tangles with Gallardo.

“Technically, there’s no advantage except maybe being familiar with the course,” said Manhit, 11. “But without that, we’re all on the same level. I’ll practice and prepare for whoever my opponent is.”

Top Japanese sponsors end Olympic contracts

TOKYO—The International Olympic Committee’s (IOC) three major Japanese sponsors—Toyota, Panasonic and Bridgestone—are terminating their contracts.

This leaves the IOC without a Japanese sponsor with the focus now expected to shift to the Middle East and India for new sponsorship income.

Japanese sponsors have turned away from the Olympics, likely related to the one-year delay in holding the 2020 Tokyo Olympics. The delay reduced sponsors’ visibility with fans not allowed to attend competition venues, increased costs, and unearthed a myriad of corruption scandals around the Games.

The three are among 15 of the socalled TOP Olympic sponsors and 15 paid a total of more than $2 billion to the IOC in the last four-year Olympic cycle.

Toyota Motor Corp. confirmed it would not renew its sponsorship after the Paris Games, which closed in August.

Chairman Akio Toyoda told a meeting of US dealerships last month that the IOC’s goals didn’t match the automaker’s vision.

“Honestly, I’m not sure they [IOC] are truly focused on putting people first. For me, the Olympics should simply be about watching athletes from all walks of life with all types of challenges achieve their impossible,” Toyoda said in English.

Toyoda promised to continue to financially support individual Olympic and Paralympic athletes, as well as the Paralympics Games.

Toyota had a contract reported to be valued at $835 million, the IOC’s largest when it was announced in 2015. It included four Olympics beginning with the Pyeongchang 2018 Winter Games in South Korea and ran through to the just-completed Paris Olympics and Paralympics.

The IOC TOP sponsors are ABInBev, Airbnb, Alibaba, Allianz, Atos, Bridgestone, Coca-Cola, Deloitte, Intel, Omega, Panasonic, P&G, Samsung,

Toyota and Visa. Tiremaker Bridgestone Corp., an Olympic sponsor since 2014, said this week it was not renewing its deal with the IOC after it ends this year.

“The decision comes after an evaluation of the company’s evolving corporate brand strategy and its recommitment to more endemic global motorsports platforms,” the Tokyobased company said in a statement.

Electronics giant Panasonic Corp., an IOC sponsor from 1987, said last month it was terminating its sponsorship and did not give a reason. The decision came after “reviews how sponsorship should evolve.” AP

Holt in a whole new world with Ginebra in semifinals

STEPHEN HOLT will now play big time after Barangay Ginebra San Miguel swept Meralco in their quarterfinals series of the Philippine Basketball Association Governors’ Cup.

“It’s a whole lot different now,” said Holt, last season’s top rookie. “It’s big time for my career since playing for Terrafirma, my goal then was just to make the playoffs.”

“The goal now is to make the semiinals and to win championship,” he said.

Wicked week

Yulo: Domo arigato gozaimasu

By Josef Ramos

Yulo was barely 16 years old when he started training in Tokyo in 2016 and was also a scholar at the Teiko University where he took Literature.

Gracing the dinner were International Gymnastics Federation president Morinari Watanabe of Japan, Joseph Victor “JV” Ejercito, Philippine Olympic Committee president Abraham “Bambol” Tolentino, Philippine Sports Commission chairman Richard Bachmann, Cavite 8th District Rep. Aniela Tolentino, 1-Pacman Party List Rep. Mikee Romero and his daughter Milka, Philippine gymnastics head Cynthia Carrion-Norton and some members of the House of Representatives and Japanese Embassy officials.

Endo presented Yulo the Ambassador’s Special Award stressing that the gymnastics champion helped boost the Philippines and Japan relation as cultural exchange and people-topeople ties are fundamental pillars of Japan’s foreign policy.

Yulo trained under Japanese coach Munehiro Kugiyama until the middle of 2023 and in between, he became floor exercise world champion in 2019 and vault in 2021 while also qualifying for his first Olympics in pandemic-delayed Tokyo.

“I am planning to visit Japan soon. I am going to the university [Teikyo University] and say thank you for the support they gave me, of course the scholarship they provided, and for taking care of me,” Yulo said. “I want to see everybody there and I will show them my medals.”

Despite controversies surrounding Yulo cutting ties with Kugiyama, the pride of Leveriza in Manila whose earnings from his Olympic golds breached P100 million said he remains on good terms with the Japanese coach.

“Coach Mune has thought me to try and try and never be afraid, not to give up on what you want to achieve in life,” Yulo said. The partnership also produced 15 gold medals in various international competitions.

“It was fitting for the Japanese Embassy to celebrate Caloy’s [Yulo] double victory in Paris,” Tolentino said. “It was in Japan where Caloy honed to become a two-time world and double Olympic champion.”

Dragon boat races in Puerto Princesa qualifier for Chengdu ’25

World Games

THE International Canoe Federation (ICF) sanctioned the ICF Dragon Boat World Championships set October 27 to November 4 in Puerto Princesa City as a qualifier for the 2025 World Games.

Dragon boat will make its debut at the World Games’

“The

Governors Cup in the quarterfinals of the Philippine Cup where they were beaten by the topseeded Beermen.

Terrafirma drafted the 6-foot-4 combo guard in 2023 but was traded to Ginebra with Isaac Go and a third overall pick in this season’s rookie draft turned out to be RJ Abarrientos and in favor of Christian Standhardinger and Stanley Pringle.

Ginebra completed a 3-0 sweep of Meralco on Monday to advance to the best-of-seven semifinals against either San Miguel Beer and Converge. The Beermen could win the series at 7:30 p.m. on Friday at the Ninoy Aquino Stadium. TNT Tropang Giga is also a semifinalist-in-waiting in the other bracket with Magnolia and Rain or Shine knocking each other out in Game 5 of their own series at 7:30 p.m. on Saturday at the Ynares Center in Antipolo.

The versatile Holt led the Dyip to their first playoff since 2016

Thus the Growling Tigers strung up its third victory by creeping behind NU, Ninja-style, leaving the Bulldogs shaking their heads in disbelief. September 22, the unthinkable happened. Defending champions De La Salle University suffered ignominious defeat at the hands of the University of the East Red Warriors. The Green Archers never led during this lopsided game as the Warriors stormed out of the gates, 10-2, and maintained control from start to finish. The defending champions threatened several times to reverse the

but

Wello Linglingo and Rain Maga stayed ferocious and dropped “Bomba” like falling rain. It was a shocker of an afternoon, to say the least.

Holt is averaging 11.9 points, 6.2 rebounds and 4.2 assists in the eliminations and made 19 points, seven rebounds and five assists in Ginebra’s 113-106 win over Meralco in Game 3 to complete the sweep. Josef Ramos

Dragon Boat Commission chairman, of China. “It’s an honor for Puerto Princesa to host an event of this magnitude,” Bayron said. “This is a significant challenge for us, but once we get started and achieve

it means that organizing and hosting larger events will become much easier for us.”

Wednesday, September 25, the basketball gods had another field day. This time NU battled an opponent from the sky. The Bulldogs and the Adamson University Soaring Falcons were playing a game you might describe as blah, marked by 34 turnovers, changing leads and tentative seesaw battles. Then in the last few seconds the gods went to work. Adamson University lost a 6-point lead. NU’s Jolo Manansala tied the game. The media crew at the press room groaned in unison as it seemed the season would experience its first overtime and it was already 9:20 p.m.

But in a stunning development, a game clock review found there was still 0.3 of a second left. Ball with Adamson University, but what the heck. What can you pull off in that sliver of time? A lot, said the basketball gods. A side throw-in by Jhon Calisay to a waiting Joshua Yerro turned out to be a shocker of an alley-oop that found its mark and gave the game to Adamson University. No overtime! What a sad day again for the NU Bulldogs.

Saturday, September 28, the league-leading University of the Philippines (UP) Fighting Maroons faced the same last second-artists, the Adamson University Soaring Falcons. For a while there, the still undefeated State U squad looked as if it would suffer the same fate as the Green Archers against the Red Warriors.

The Falcons toyed with the Maroons, leading by 22

points as UP experienced a horrendous nothing-seems-togo-right first quarter.

But this time the surprise did not come from an upset win. The jolt came from how UP battled back with a steamrolling 24-2 barrage between the first and second periods, and how Adamson University stayed scoreless from 7:43 of the second quarter to the first half of the third. In the end,

TOYOTA, Panasonic and Bridgestone are among 15 of the so-called TOP Olympic sponsors and 15 paid a total of more than $2 billion to the International Olympic Committee in the last four-year Olympic cycle. AP

THESE young golfers—(from left)

Manhit, Vito Sarines and Ralph Batican—are having fun while seeing action at The Country Club.