THE Bangko Sentral ng Pilipinas (BSP) believes further delays in the easing of monetary policy may lead to output losses for the Philippine economy.
In a forum hosted by the Economic Journalist’s Association of the Philippines and San Miguel Corporation on Monday, BSP Governor Eli M. Remolona Jr. therefore assured that they are on track to reduce policy rates.
If the Monetary Board decides to reduce policy rates in August, this will be the first time BSP cuts rates since November 2020. On that day, the monetary authorities cut rates by 25 basis points, reducing policy rates to 2 percent.
“We [can] not wait too long for easing because the longer we wait for easing, the more likely it is that we will cause a loss of output which we don’t want. So that’s basically
By Reine Juvierre S. Alberto
Finance Secretary Ralph G. Recto told reporters on the sidelines of the Ejap-SMC Economic Forum that the state’s revenue collection from January to June reached P2.13 trillion, higher by 14.6 percent than the P1.9 trillion it generated in the same period a year ago.
“It’s more or less half of what we intend to collect for the entire year. So far, we seem to be on track,” Recto said in the forum.
The government expects to collect P4.269 trillion in revenues, which makes up 16.1 percent of the GDP, in 2024, as set by the Cabinetlevel Development Budget Coordination Committee (DBCC).
Revenues from tax collection for the six-month period rose by 8.8 percent to P1.81 trillion from the P1.667 trillion it raised in the same period in 2023, according to the DOF. The Bureau of Internal Revenue (BIR) generated P1.34 trillion from its tax take, up by 10.2 percent, while the Bureau of Customs (BOC) collected P456.05 billion, also higher by 3.03 percent, as of end-June. Non-tax revenues expanded by
IBy Lenie Lectura @llectura
LOILO—The government may borrow P47 billion from multilateral lenders to achieve the country’s total electrification program by 2028.
64.5 percent to P316.52 billion during the six-month period, the DOF added.
For the remaining half of the year, Recto said that he expects the government to collect half of what is needed to reach the full-year revenue target. About P11.8 billion will be raised by the state daily, he added. In his presentation, Recto said the DOF anticipates a 10.3-percent average annual growth in total revenues, collecting P4.664 trillion in 2025, P5.063 trillion in 2026, P5.627 trillion in 2027 and reaching P6.249 trillion in 2028.
Increased tax take
TAX collections are also projected to increase by an average of 11.8 percent every year on the back of digitalization and plugging leakages in the tax system. In 2024, the DOF expects tax collection to reach P3.834 trillion, while it expects P4.332 trillion in 2025, P4.838 trillion in 2026, hitting the P5-trillion mark at P5.385 in 2027, and P5.991 trillion in 2028.
As of March this year, the household electrification level is 93.12 percent with 26.02 million households served, versus the estimated potential households of 27.94 million. This year’s target electrification is estimated at 94.83 percent or 26.51 million households. A 100-percent electrification will result in
and
percent, respectively.
where we stand. We’re not going to raise,” Remolona said.
Remolona said apart from the slowdown in inflation to 3.7 percent, the “single biggest piece of good news” for the monetary authorities is the reduction in rice tariffs to 15 percent from the current 35 percent.
The tariff rates are expected to reduce rice prices by around 6 to 7 percent, according to the National Economic and Development Authority (Neda). This is expected to offset any increases in inflation brought by other factors.
Based on data from the Philippine Statistics Authority (PSA), rice has a weight of 8.87 percent in the Consumer Price Index (CPI) for all income households and 17.87 percent for the Bottom 30 percent.
Apart from these, data points being monitored by the BSP include the natural rate of interest, which,
Remolona said is the interest rate that balances supply and demand for the Philippines.
“I think the data points include what we call the output gap, which is the difference between our output and our capacity, that’s one,” Remolona said. “Exchange rate is one of those numbers. Expectations of inflation is another number. We look at all those very carefully and we look at them together and then we decide,” he added.
Earlier, the Neda and BSP said inflation may have slowed in June, but they are not convinced that the worst is over in terms of the increase in commodity prices.
Remolona sees a 50-50 chance that inflation could still breach 4 percent in July. Given this, he said, “it’s not yet time to declare victory.”
Socioeconomic Planning Sec-
retary Arsenio M. Balisacan said rice prices, for one, are still high because of global prices. He also noted nonfood items were crucial in the 3.7-percent inflation in June 2024. (See: https:// businessmirror .com.ph/2024/07/06/ june-inflation-at-3-7-pricesstill-hurt-poor/).
Remolona said should inflation stay within the 3 to 4 percent target in July, this bodes well for the BSP’s plan to cut rates by August. However, he does not see this leading to larger rate cuts. Earlier, the BSP said the Monetary Board is poised to cut rates in August, ahead of the United States Federal Reserve, which is expected to ease monetary policy by September. (See: https:// businessmirror .com.ph/2024/06/28/lowerrice-tariff-fuels-bsp-interestrate-cut-optimism/). Cai U. Ordinario
TBy Cai U. Ordinario @caiordinario
HE National Economic and Development Authority (Neda) believes the country’s recent employment gains will be sustained in the coming months.
The Philippine Statistics Authority (PSA) reported Monday the country’s unemployment rate averaged 4.1 percent in May 2024, the highest since the 4.5 percent posted in January 2024. (See: https:// businessmirror com.ph/2024/07/08/unemployment-in-phl-the-highest-infour-months-psa/).
On the sidelines of a forum hosted
by the Economic Journalist’s Association of the Philippines (Ejap) and San Miguel Corporation (SMC), Socioeconomic Planning Secretary Arsenio M. Balisacan said the 4.1 percent is lower than the 4.3 percent posted in May 2023.
“I think the labor market is very robust. But as I said, our focus is not so much now on employment, it’s the quality of that employment,” Balisacan told reporters.
PSA said there were 2.11 million unemployed Filipinos in May 2024; this is 61,000 less than the 2.17 million posted in May 2023 and 65,000 more than the 2.04 million posted in April 2024.
PHL targets exit from FATF gray list by January 2025
By Cai U. Ordinario @caiordinario
THE Bangko Sentral ng Pilipinas (BSP) aims to exit the Paris-based Financial Action Task Force’s (FATF) gray list by January 2025.
In a forum hosted by the Economic Journalist’s Association of the Philippines and San Miguel Corporation on Monday, BSP Governor Eli M. Remolona Jr. said the country’s deficiencies may be “largely addressed” by October 2024.
In June, FATF President T. Raja Kumar said the Philippines fell short of addressing three of the 18 action items needed to fight money laundering, terrorist financing, and proliferation financing of
The country’s underemployment rate, meanwhile, slowed to 9.9 percent, the lowest since 2005 when the government adopted the International Labor Organization’s employment standards.
weapons of mass destruction in the country. (See: https:// businessmirror .com.ph/2024/06/29/3issues-thwart-phl-bid-to-exitfatf-grey-list/).
“We won’t get out of the gray list by October. [But] once we’ve been told we have largely addressed those three remaining items, there’s an exit process that then ensues,” Remolona said.
“If that works out, you have to come there in January to check
Visible, invisible underemployment
whether what we said is true. If that works out, then we will exit in January,” he also said.
One of the deficiencies of the country in terms of its efforts to exit the gray list is the issue of casino junkets. Remolona said, however, that the Philippine Amusement and Gaming Corporation (Pagcor) is already on top of this.
According to Remolona, Pagcor is tightening its monitoring of casino junkets, giving the government confidence that by October, the country may have already addressed its deficiencies.
“We’ve made very big progress. We have 18 action items to fulfill. We’ve officially fulfilled 15 of the 18. This has become classified as largely addressed and we still have three more action items to work on.
But in the recent meetings we’ve been told that we’re making good progress,” Remolona said.
Earlier, Kumar said that in order to
exit the grey list, the Philippines must “quickly address” the three of the 18 action items it needed to act on.
These three items, Kumar said, include implementing controls to mitigate money laundering and terrorist financing risks that are linked to “casino junkets.”
Kumar also said the Philippines needs to apply anti-money laundering and counterterrorism financing measures to all main ports “to essentially detect false declarations of currency and confiscate illicit proceeds in area that it still needs to work on.”
The FATF President added that the Philippines must also complete efforts to prosecute terrorist financing in the country.
On January 2, 2024, the AMLC said President Ferdinand R. Marcos Jr. directed all government agencies concerned to address all the remaining action plan items within the year to trigger the exit process.
Govt to shoulder shortfall in tariff take, to sustain RCEF
WITH the expected P9.2 billion in revenue losses from the reduction of rice tariffs, Finance Secretary Ralph G. Recto assured the public that the government will shoulder the shortfall in tariff collections to sustain its assistance to rice farmers.
Recto told reporters on the sidelines of the Ejap-SMC Economic Forum that he had suggested that the government bear the burden of the revenue shortfall following the tariff cut on imported rice to 15 percent from 35 percent.
To ensure enough revenues can support the planned increase of the RCEF, the DOF said it is working with Congress to support the needs of farmers and improve local production and competitiveness.
The agriculture sector’s budget for 2024 rose by 27.7 percent to P221.7 billion to install more irrigation systems, construct farm-tomarket roads, procure agri machinery and equipment and prioritize research and development.
“All these will set the stage for a modernized agriculture sector, transforming it into a principal engine that drives national growth,”
Recto added. Consumers can also expect rice prices to go down as early as August worth below 50 pesos, the Finance chief added.
“We anticipate an average of 10-percent reduction in retail prices for the rest of the year. This could lower the price of rice by at least 5 pesos per kilo,” Recto said. “Had we not taken this step, rice prices would have remained above 50 pesos, causing significant pain for consumers,” Recto noted.
Executive Order (EO) No. 62 was issued by President Ferdinand R. Marcos, Jr. in June to reduce tariffs on agricultural products.
Agricultural and farmers’ groups appealed to the Supreme Court last week to issue a temporary restraining order against EO 62. “I don’t think there’s a reason for the courts to get involved in that,” Recto said, adding that he does not expect the SC to issue a TRO on the policy.
Moreover, Recto said the reduction of rice tariffs is only a shortterm solution and is in tandem with the government’s long-term goal of enhancing agricultural productivity.
There were 4.82 million underemployed Filipinos in May 2024. This was 846,000 less than the 5.66 million recorded in May 2023 and 2.22 million less than the 7.04 million posted in April 2024.
visible and invisible underemployment declined in May 2024. Visible underemployed are Filipinos who are working less than 40 hours a week. Invisible underemployed is the category for those Pinoys who, despite working 40 hours a week or more, still desire more hours of work to increase their incomes.
THE PSA data showed both
The data showed visible underemployment declined 33.2 percent in May 2024 compared to April 2024 and 19.7 percent compared to May 2023.
The number of those visibly underemployed went down to 2.958 million. This represented a reduction of 1.468 million from April 2024 and 728,000 from May 2023.
The data showed there were a total of 1.857 million invisibly underemployed in May 2024, a reduction of 754,000 workers from April 2024 and 118,000 from May 2023.
“We must persist in our efforts to boost investments and implement key technological and innovative reforms to enhance productivity and create more high-quality employment opportunities,” Balisacan said in a statement.
The country’s chief economic planner also highlighted the role of digital technologies in enhancing public sector employment facilitation services and training programs and improving skills forecasting in policy planning and programming.
AI roadmap
THE recent launch of the National Artificial Intelligence (AI) Strategy Roadmap 2.0 is expected to fast-track AI development in the country, expand upskilling programs to equip the workforce and increase the uptake of AI-enabled processes and solutions by the business sector.
To sustain the country’s robust labor market trend and harness this development toward generating high-quality jobs amid a fast-changing work environment, Neda is currently crafting the Trabaho Para sa Bayan (TPB) Plan.
“Since June, we have been conducting public consultations for the TPB Plan across all regions in the country. We want to involve both employers and workers in understanding how various changes in the economy, society, and the environment have been affecting the world of work and how the different labor market actors have been adjusting to the changes. The key is to identify effective and efficient solutions to their challenges and may continue to encounter,” said Balisacan.
The TPB Plan will serve as the country’s blueprint for comprehensive employment generation and recovery. It will outline robust employment policies with strong implementation measures and concrete targets. Neda is committed to finalizing this plan by the end of the year.
However, to achieve total electrification on time, Guevara said a total of P72 billion must be shelled out to finance the power generation, transmission and distribution in underserved and unserved areas of the country. This will be sourced from the DOE’s total electrification budget and financial assistance from ADB or World Bank.
“We may need a loan for that, just a portion, because there is a budget for total electrification. It’s about three to five billion pesos per year, our budget. We can’t just suddenly increase the budget. What we need is still big because the budget is P25 billion only and we need P72 billion for this electrification program,” the DOE official said on Monday.
Guevara said this was already taken up during a recent meeting with other government agencies. “The meeting was good because it seemed to be accepted by DOF [Department of Finance] and then Neda [National Economic Development Authority] to be open to invest in total electrification. Because, just now, the economic benefit has never been seen. Nobody reported that part to them before,” Guevara said, referring to the economic benefits of expanding electricity access in the country.
“So, because of that, we’re think-
ing of a possible loan from ADB or World Bank. We’re discussing. We’re also thinking of government appropriations to the DBM to supply the P72 billion from now until 2028,” added Guevara.
Early this year, the University of the Philippines (UP), the National Electrification Administration (NEA), and Philippine Space Agency (PhilSA) established a partnership to support the Accelerated Total Electrification Plan. The Accelerated Total Electrification Plan is the DOE’s strategic plan to accelerate total electrification in the country, focusing especially on Mindanao, which has the greatest number of households still without adequate access to electricity.
The DOE and NEA are jointly implementing the total electrification plan, which will be significantly boosted by the effective use of satellite-technology and the Geographical Information System (GIS) in: the identification of households in the off-grid areas; and the analysis, planning and implementation of remote rural electrification. These will be undertaken through technical assistance by, and datasharing and collaboration with, the PhilSA and UP through the latter’s National Engineering Center.
“In fact, for 2025, we expect double-digit collection growth from the BIR and BOC as we enhance their administrative efficiency through digitalization and plug leakages in the tax system, especially from ecommerce,” Recto said.
With no new tax proposals, the DOF will bank on its refined revenue reforms awaiting congressional approval, which are poised to increase revenues by P42 billion annually starting in 2025.
ing sure Fili takes off and the Cebu [property].” (See, “Westin returns to Manila with luxurious Ortigas hotel,” in the BusinessMirror , December 4, 2023.)
The 379-room Fili Hotel in Cebu is located within RLC’s Nustar Resort and Casino complex, at the Cebu South Road Properties in Mactan. Its rooms range from 41 or 47 square meters, a generous space by most hotels in its category. Aside from Fili in Cebu and Nustar, RLC had 26 hotels at the end of 2023, and includes 13 Go Hotels, seven Summit Hotels and Resorts, One Grand Summit Hotel, and four international-branded
“These reforms promise fairness and efficiency, ensuring that they do not translate to unnecessary burdens to Filipino consumers and taxpayers,” Recto assured.
hotels—Westin Manila, Crowne Plaza Galleria, Holiday Inn Galleria, and Dustin Thani Mactan Cebu.
In a news statement, RLC said Robinsons Hotels and Resorts posted growth across all its brands “despite an elevated base last year.” In the first quarter of the year, revenues surged by 54 percent to P1.35 billion “driven by solid performance across all segments.” Also, earnings before interest, taxes, depreciation, and amortization (Ebitda) and EBIT surged by 140 percent and 770 percent to P402 million and P202 million, respectively.
Reine Juvierre S. Alberto
Philippines, Japan sign military pact
By Samuel P. Medenilla @sam_medenilla
FROM being foes during World War II, the Philippines and Japan have become close military allies with the friendship capped by the signing of the two countries’ Reciprocal Access Agreement (RAA) on Monday.
President Marcos witnessed the forging of the new pact, which will allow both countries to conduct joint military exercises amid China’s growing maritime aggression in Asia, after the courtesy call of Japanese Foreign Minister Kamikawa Yoko and Defense Minister Kihara
Minoru in Malacañang.
The RP-Japan RAA was finally signed by National Defense Secretary Gilberto C. Teodoro and Kamikawa more than two years after the Philippines and Japan announced their intention to enter into such a pact in April 2022.
Formal negotiations between Manila and Tokyo on the RAA only started last November.
The RAA with the Philippines is the first to be signed by Japan in Asia. It will take effect once the legislatures of both countries ratify it.
The President said the signing of the RAA marks another milestone in the country’s growing cooperation with Japan.
“I’m glad that having witnessed the commencement, the [beginning] of this agreement that it has now come to fruition and that we are ready now to sign the Reciprocal Agreement,” Marcos said.
Kamikawa said the signed RAA is a “great achievement” which will help ensure international order.
“To maintain and strengthen the free and open international order based on the rule of law,
we would like to strengthen our partnership under your excellency’s leadership,” she told the President.
This was echoed by Kihara, who said the new defense cooperation helped preserve a “free and open Indo-Pacific.”
“I am committed to working with my good colleague Secretary Teodoro to further enhance our defense cooperation and exchanges in order to realize a free and open Indo-Pacific,” Kihara said.
Both Philippines and Japan have been facing more incursions from the China Coast Guard (CCG) within their territorial waters.
These incidents include a CCG ship attacking a Philippine supply ship bound for the Ayungin Shoal last month and the presence of Chinese ships in the Senkaku Islands.
Chinese ‘invade’ Iloilo posh subdivisions
By Jovee Marie N. dela Cruz @joveemarie
LEGISLATOR from Iloi-
Alo has called on Justice Secretary Jesus Crispin Remulla to investigate reports that Chinese individuals have taken residence in upscale subdivisions in Iloilo City, raising concerns among local residents about potential security risks.
In a letter addressed to Remulla last week, Iloilo Rep. Julienne Baronda said these Chinese are living in high-end subdivisions such as La Paz, Monterosa Subdivision in
Mandurriao, and Ledesco Subdivision in La Paz. The lawmaker said that while these foreigners have not caused any trouble and have been amicable neighbors, their presence has raised eyebrows owing to their origin and limited English proficiency.
“What bothers the Ilonggo residents is that they are said to be from mainland China and could barely speak English. There are households where no one or only one of five speaks English,” Baronda noted. She added that it has also intrigued the locals
that these Chinese nationals have purchased properties worth between P30 million and P50 million and own luxury sports utility vehicles.
“While these are mere suspicions, it is better to validate the veracity of these reports and determine whether these alleged Chinese are engaged in nefarious activities or not, as the Filipino people are worried about the socalled Chinese ‘sleeper agents’ given the fact that your agency, the National Bureau of Investigation, has verified that Mayor Alice Guo [of Bamban, Tarlac] and a
Chinese national have the same fingerprints,” she added. Baronda also cited the arrest of 17 Chinese nationals in November 2023 in barangay Balantang, Jaro, Iloilo, on charges of involvement in cybersex and human trafficking.
“Given these, I would like to respectfully request that your good office investigate this matter through the National Bureau of Investigation and Bureau of Immigration in earnest. We want to ensure that our people are safe and that our national security is protected,” Baronda urged.
Alice Guo, siblings, pals evade Senate subpoena servers
By Butch Fernandez @butchfBM
THE suspended mayor of Bamban, Tarlac, Alice Guo, her three siblings and several of her associates have dodged subpoena servers from the Senate, indicating to senators looking into the Philippine Offshore Gaming Operators (Pogos) mess that they will most likely skip the resumption on Wednesday of a tri-committee hearing on illegal activities and crimes associated with those establishments.
In a letter to the Senate Committee on Women and Children chaired by Sen. Risa Hontiveros, the Senate Sergeant at Arms, retired Lt. Gen. Roberto T. Ancan, reported the futility of their mission to serve subpoenas on Guo, her siblings Seimen Leal Guo, Wesley Guo and Wenyl Lin, and officers associated with the Bamban Pogo hub that authorities raided in May.
“Attached herewith is the receiving copy of the Subpoena Ad Testificandum duly served by this office on July 03, 2024 addressed to MS. NANCY JIMENEZ GAMO which was received by Ms. Elizabeth Marcial,Liaison Officer of Ms. Gamo..,” Ancan reported to the Senate. He said that the Subpoena Ad Testificandum addressed to Guo, Sheila Leal Guo, Wesley
Leal Guo and Jian Zhang Guo, were not served at their known address at barangay Virgen delos Remedios, Bamban, Tarlac.
According to Jerry Baltazar Castro, a helper in the farm, Guo has not gone to the farm for several weeks now and he has no idea of her whereabouts.
Furthermore, Ancan report quoted him as claiming that he “does not know the siblings” Sheila, Wesley and Jian, hence, and he refused to receive the subpoena.
“Nevertheless, our Servers gave copies of the subpoenas to Mr. Castro if ever Mayor Guo and her siblings arrive at the farm,” the sergeant at arms reported. The servers then proceeded to Bamban Municipal Hall in an attempt to have the subpoenas received.
“Unfortunately, a certain Ms. Apple Dizon, personal secretary to the Mayor, refused to receive the subpoena addressed to the Mayor and her three siblings, including the letter of invitation addressed to Mr. Seimen Leal Gou and Ms. Wen and Ms. Wenyi Lin.
“Our servers again gave copies of the subpoenas and letter of invitation to the Mayor’s office.”
On the same date, the Subpoena Ad
Bong Go provides additional support during medical and dental mission
ON Friday, July 5, Sen. Christopher Go provided additional support to the beneficiaries of a medical and dental mission held in Guisijan Cover Court in Laua-an, Antique. This health initiative demonstrated the local government’s unified effort to bring quality health care to the people and improve public health. Through a video message, Go lauded the activity led by Vice Governor Edgar “Ed” Denosta, Laua-an Mayor Ontoy Aser Samillano Baladjay, and Vice Mayor Francisco “Bebong” Baladjay.
Aside from availing of free medical consultations, dental services, and medications, Go’s Malasakit Team also provided snacks, shirts, basketballs, and volleyballs
to the 400 beneficiaries of the medical and dental mission.
As the Chairperson of the Senate Committee on Health and Demography, Go also encouraged residents needing medical assistance to take advantage of medical assistance programs available at Malasakit Centers, specifically highlighting the one located at Angel Salazar Memorial General Hospital (ASMGH) in San Jose de Buenavista. Through Republic Act No. 11463, which Go principally authored and sponsored, qualified public hospitals now feature Malasakit Centers, enhancing medical assistance accessibility. Since 2018, 165 Malasakit Centers have been established, benefiting about 10 million Filipinos, according to Department of Health reports.
Testificandum addressed to Ms. Jamielyn S. Cruz was not served. “According to Arris G. Orlanda, President of Homeland Subdivision homeowner’s association, Novaliches, Quezon City, the name of the addressee is not on the list of residents in said subdivision. Mr. Orlanda issued a certification on this upon the request of our server,” said Ancan’s office.
A subpoena addressed to Roderick Pujante was not served as “no one was in the house when our server arrived at the address.”
“Instead a certification from barangay West Triangle was issued upon the request of our server claiming that Mr. Pujante is no longer a resident of said address and further stated that a Mr. Rodrigo Pujante, uncle of the addressee is the lone occupant of the house.” A copy of the subpoena was given to Arnold G. Samantilla, secretary of Barangay West Triangle.
Another subpoena for Juan Miguel Alpas was also not served. “A neighbor residing adjacent to the addressee’s house who declined to give his name, informed our server that the said house has a sole resident by the name of Ms. Teresa Alpas and the addressee is unknown to him. The neighbor added that the house has been vacant for several weeks now. Our server
then left a copy of the subpoena at the said house through a gap on its door.”
Earlier, Sen. Anna Theresia “Risa”Hontiveros had warned that if Guo continues to be absent at the hearings, she would have subpoenas issued. And if she defies even the subpoenas, she may be forced to cite Guo in contempt.
“Well, if she continues to ignore our invitation again, the committee will issue a subpoena. And I already warned the Mayor about this. I already warned Guo Hua Ping about this,” said Hontiveros, referring to Mayor Guo’s real Chinese name, which was revealed last week after the National Bureau of Investigation (NBI) said its examinations showed a perfect match on the fingerprints of Mayor Guo and Guo Hua Ping—listed in Philippine documents as the dependent of a Chinese investor visa holder.
“I will cite her in contempt,” Hontiveros has warned earlier when the mayor skipped the hearing. “And she knows, like other uncooperative resource persons in Senate hearings, the practical implication of being cited in contempt is to be detained in the Senate premises. So if she does not want that to happen, she simply has to honor the subpoena and show up at the next hearing.”
Intl think tank with Aussie, US embassies to hold conference on West Philippine Sea
By Rizal Raoul Reyes @brownindio
INTERNATIONALthink tank Stratbase ADR, in partnership with the Australian and the US embassies in Manila, announced on Monday it will conduct the biggest West Philippine Sea Conference of 2024 to stress the importance of a whole-of-society approach and celebrate the eighth anniversary of the Arbitral ruling that dismissed China’s expansive claims at the South China Sea.
The event will be held on July 12 in Makati City.
Expected to attend the conference are the ambassadors of the United States, Australia, Canada, France, and Japan to philippines.
Members of the National Security Council, top officers from the Philippine Navy, Air Force and Coast Guard, and officials of the Presidential Office for Maritime Concerns.
The Stratbase Institute president, Victor Andres Manhit, stressed that the event is very timely as the People’s Republic of China “continues to pursue aggressive, hegemonistic and coercive actions at the West Philippine Sea.” Further, Manhit said it is an opportune time to hold the forum because it will enable the participants to discuss and exchange views on the strategic value of the arbitral tribunal ruling, especially in maintaining a rules-based international order in the Indo-Pacific.
“The Arbitral Award accorded to the Philippines by the Permanent Court of Arbitration in 2016 underscored the importance of the rules-based international order. It brought to the forefront of global discussions the efforts of the Philippines to defend its national sovereignty, territorial integrity, and economic rights in the West Philippine Sea,” Manhit explained. He emphasized that it is of utmost
importance that Filipinos come together and strengthen the country’s sovereignty in the area.
“Confronted with asymmetric security challenges, the Philippines remains steadfast in its stance, employing a whole-of-society approach to asserting its rights in the West Philippine Sea. The current administration’s firm pronouncements are complemented by the military’s efforts to boost external defense capabilities through theComprehensive Archipelagic Defense Concept,” Manhit said.
“Moreover, civil society plays an active role through civilian missions in the West Philippine Sea and an assertive transparency strategy, publicizing incidents that undermine the rules-based international order,” he added. Manhit also noted the significance of having like-minded partners stand beside the Philippines in upholding the rulesbased international order in the West Philippine Sea.
“The firm stance and concrete steps taken by the Philippines to safeguard its rights has inspired renewed confidence in the international community. Like-minded partners such as the United States, Australia, Canada, Japan, France,and the European Union among others continue to stand shoulder-to-shoulder as part of collective efforts to ensure security, stability, and prosperity in the Indo-Pacific,” Manhit said.
“The Arbitral Award serves as a reminder of the Philippines’ victory in upholding its sovereign rights and the enduring strength of the rules-based international order. Underscoring the ongoing challenges and the need for sustained vigilance and collective action, renewing the shared commitment to maritime security among all participants forges stronger partnerships in exploring innovative strategies to safeguard common interests in the Indo-Pacific,” he added.
Comelec starts investigation on candidacy of suspended Bamban, Tarlac, mayor
THE Commission on Elections (Comelec) has officially formed a fact finding committee, which will look into the controversies surrounding the candidacy of the suspended mayor of Bamban, Tarlac, Alice Guo in the 2022 polls.
In his Memorandum 2024-0919 issued during the weekend, Comelec Chairman
George M. Garcia ordered the Comelec Law Department to create the committee.
“The Committee shall determine whether there was material misrepresentation in her certificate of candidacy which would warrant the filing of an election offense case,” Garcia said.
The Comelec panel will coordinate with the National Bureau of Investigation (NBI), the Solicitor General, and the Senate Committee on Women, Children, Family Relations and Gender Equality for information related to Guo.
Comelec Spokesman John Rex C. Laudiangco said the committee will be composed of Comelec Law Department lawyers and investigation staff.
The Committee will determine the possible culpability of Guo and recommend to the Commissionen bancthe filing of a case if evidence warrants it. Last week, the poll body started its case build up against Guo by requesting the NBI to be given a copy of the latter’s report on the fingerprint examination of Guo. The NBI concluded that Guo has the same fingerprints as Guo Hua Ping, a Chinese, who entered the country on January 12, 2003. The information contradicted Guo’s claim in her Certificate of Candidacy (COC), which she filed to run during the 2022 polls, that she is a Filipino citizen and not a permanent resident or immigrant from another country.
Aside from the material misrepresentation case Comelec is preparing to file against Guo, the suspended Bamban mayor is also facing human trafficking charges from the Department of Justice (DOJ) due to her alleged involvement in an illegal Philippine Offshore Gaming Operators (POGO) hub within her jurisdiction. Samuel P. Medenilla
Congressman presses Comelec to ban AI, deepfake technologies
ASENIOR lawmaker has cited a recent TikTok video, which falsely portrayed a senator as the leading candidate in a 2028 presidential “survey,” as a compelling reason for the Commission on Elections (Comelec) to prohibit the use of artificial intelligence (AI) and deepfake technology in election campaigns.
Camarines Sur Rep. Luis Raymund Villafuerte made a statement after the controversial video, which was falsely attributed to ABS-CBN, claimed that an opinion poll showed Sen. Robinhood Padilla as the frontrunner for the 2028 presidential election.
ABS-CBN later dismissed the video as a “false and fabricated” news clip, identifying it as a deepfake.
“This TikTok video of a supposed ABSCBN report on the results of a survey on the leading candidates for the 2028 presidential
race, but which this network subsequently dismissed as a ‘false and fabricated’ news clip, is one proof for the Comelec to consider banning the use of AI in next year’s election period,” Villafuerte said.
The video featured fabricated images and voices of a network anchor, a reporter, and a political analyst, Julio Teehankee, who all discussed the alleged survey results. Teehankee condemned the video as “fake news,” calling it “a chilling preview of how AI will be used in Philippine elections.”
Villafuerte expressed his support for Comelec Chairman George Garcia’s stance on the issue. Garcia has previously warned that the misuse of this technology could lead to “fraudulent misrepresentation” of candidates during campaigns.
“I agree with the Chairman [Garcia] that the use of deepfake technology with
malicious intent would subvert the very purpose of campaigns, which is for the electorate to have enough time to know poll contenders sufficiently and truthfully, so our voters can make informed choices come Election Day,” said Villafuerte.
Garcia has already submitted his AI-ban proposal to the Comelecen bancduring a recent meeting. Moreover, Villafuerte said he supported Garcia’s proposal for the Comelec to disqualify or file election offense cases or both against candidates found using AI and deepfake technology in the 2025 midterm polls.
Villafuerte also backed Comelec’s plan to enter into Memorandums of Agreement (MOAs) with different online platforms for detecting and fighting the spread of deepfakes via the internet. He emphasized that the rapid spread of
misinformation via social media could have severe consequences for the integrity of elections in the Philippines,
A4 Tuesday, July 9, 2024
Funding support for climate change projects hits $13.5 billion–DENR
By Jonathan L. Mayuga @jonlmayuga
TECHNICAL and funding support to the country’s climate initiative under its commitment in the Paris Agreement has reached $13.5 billion as of June 2024, the Department of Environment and Natural Resources (DENR) reported.
The country’s climate action initiatives under National Adaptation Plan (NAP) and Nationally Determined Contribution Implementation Plan (NDCIP) are supported by the collaborative effort of 31 development partners in 94 projects, of which 23 are loan-funded and comprising 96 percent of the total value of $13.5 billion. These projects are mainly in the transport, agriculture, waste and industrial processes, and energy sectors.
Transport projects alone account for $11.79 billion in loans, with 21 ongoing and two upcoming projects.
In the agriculture sector, $81 million in grants support livelihood enhancements and smart agricultural
technologies, while the waste and industrial processes sectors received $11.79 million and $9.22 million, respectively, in project funding. The energy sector also sees significant investment, with projects totaling $1.08 billion.
In a statement, Environment Secretary Maria Antonia Yulo Loyzaga said NAP and NDCIP are actively addressing climate change impacts and helping local governments become more resilient through greenhouse gas emissions reduction and capacity-building.
The NDCIP is a document containing the country’s contribution to the goals of the Paris Agreement on greenhouse gas emissions, while the NAP is the country’s plan to mitigate and adapt to the adverse impact of climate change.
Loyzaga, who represents President Marcos in the Climate Change Commission (CCC), emphasized the importance of strategic coordination with development partners and financial institutions to achieve mitigation and adaptation goals.
Expect higher Meralco bills for July
By Lenie Lectura @llectura
THE Manila Electric Company (Meralco)
is expecting an increase in generation charge for the June supply month, possibly resulting in higher power rates this month.
Generation rates make up bulk of an electric bill. The other components include transmission, distribution, taxes, among others.
“We may expect strong pressures for the generation charge to increase this July. To recall, the generation charge saw a reduction in June, after ERC [Energy Regulatory
Commission] directed the staggered collection of WESM [Wholesale Electricity Spot Market] charges over a four-month period. Thus, from an artificially low level in June, we should expect WESM charges to normalize in the July generation charge,” said Meralco utility economics head Lawrence Fernandez.
The expected increase in generation charge is also an offshoot of the series of red alerts experienced by the Luzon grid at the start of the June supply month, although their impact should be mitigated by the lower demand due to the onset of the rainy season, added the Meralco official.
The coordination ensures that adaptation and mitigation efforts are integrated across sectors, scales, and regions, she said.
To recall, she led the “Development Partners’ Forum on Climate Action: Mobilizing Support for the NDC Implementation Plan and National Adaptation Plan” on June 20 in Makati City.
Represented by Laure Beaufils and Asian Development Bank’s (ADB) Asean (Association of Southeast Asian Nations) Green Catalytic Finance Lead Scott Roberts, the UK, and ADB have been key supporters of the Philippines’ climate action efforts in line with fulfilling the country’s commitments to the Paris Agreement.
The UK provided financial, scientific and technical support towards drafting the NAP, while the ADB assisted the country in identifying the strategies and targets for the reduction of greenhouse gas emissions and cost of sectoral transitions in the NDCIP.
The development partners forum then aimed to sharpen the focus and
In its order promulgated last June 13, the ERC ordered all distribution utilities and electric cooperatives in the country, including Meralco, to stagger the collection of charges covering WESM purchases in the May supply month in four equal monthly installments starting this billing month until September 2024.
The ERC order brought down Meralco rates last month by P1.9623 per kilowatt hour (kWh), a reversal from an earlier projected rate hike of P0.6436 per kWh.
However, Meralco had warned that generation charges are likely to go up in the next three months. “We would like to advise this early that our customers can expect generation charge to increase in succeeding months as we collect the deferred amounts
accelerate the roles and contributions of partners from the World Bank, GIZ, Japan International Cooperation Agency (Jica), US Agency for International Development (USAid), the European Union (EU), United Nations Development Program (UNDP), the World Food Program and others in addressing the NAP and NDCIP targets in line with the implementation of the Philippine Development Plan 2023-2028.
Present at the forum were representatives from the CCC, the National Economic and Development Authority (Neda), and the Department of Finance (DOF). These agencies highlighted the need to target support towards the specific priorities, strengths, gaps, and needs in the country’s journey to inclusive, resilient, and sustainable development. Agency representatives such as Undersecretary Carlo Abad Santos and CCC Vice-chairman Robert Borje are also lead members of the Philippine Delegation in the United Nations Framework Convention on Climate Change negotiations.
on staggered basis as result of the recent developments,” Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga earlier said.
Quezon Power (Philippines) Ltd., San Buenaventura Power Ltd. Co., and South Premiere Power Corporation, deferred P500 million in generation costs to cushion the impact of higher pass-through charges to Meralco’s customers. These will be collected over the next three billing periods, as cleared by the ERC.
“With these already deferred costs, and the recent order of the ERC to also stagger the collection of WESM charges, around P0.77 per kWh will be added every month to the generation charge in the July to September bills,” Zaldarriaga had said.
Why the use of AI may well become an obligation!
By Henry J. Schumacher
IHAVE been writing about the integration of artificial intelligence into business many times. Why? Because AI changes the performance of companies, creates new opportunities, and puts organizations ahead of the competition. In other words, we may have no choice but to integrate AI into our operations; there are signs that AI may become compulsory for organizations...Why? I am outlining some of the reasons below:
The Predictive Economy will transform executive decision-making and central rules, altering demand and prompting service personnel. Predictive data analytics will manage workforce deployment based on economic, political, and seasonal forecasts, enhancing consumer engagement with personalized, location-specific offers. These examples highlight the megatrend of this decade: Predictive Economy.
What has been partially implemented in digital industries will gain overarching importance: tools of artificial intelligence (AI) and machine learning calculate events and outcomes using vast data sets, guiding managerial decisions. The benefits are manifold: proactive, target-specific and offer to boost revenue and margins.
Businesses integrating these models should adhere to four fundamental rules:
I. Boards must align corporate strategy and business models with Predictive Economy opportunities, frequently revising them. Key questions include adjusting monetization strategies based on customer payment preferences, potentially favoring data licensing and AI-generated service parameters over traditional product sales. Boards must also strategize network partnerships crucial for customer retention.
Marikina opens annual Back-to-School Shoe Bazaar
HE annual Balik Eskwela Shoe Bazaar
Tof the shoe capital of the Philippines officially opened on Monday, July 8, featuring 43 leather goods stalls.
The bazaar will run until August 18. The shoe bazaar is located at the Marikina Freedom Park, which is right in front of the City Hall.
The event aims to provide high-quality, affordable shoes at factory prices to students
and families as they prepare for the coming school year.
Marikina Mayor Marcelino “Marcy” Teodoro led the ribbon-cutting ceremony, to officially open the bazaar.
Emphasizing the significance of the event for the community, Teodoro highlighted that it is a tremendous service to our citizens, benefiting not only the people of Marikina but also those from surrounding areas.
“Napakalaking serbisyo po nito sa mga kababayan natin, hindi lang mga tagaMarikina, kundi pati sa mga karatig pook natin,” he said.
“Makakakuhasilangsapatosnamatibay, sapatosnamaganda,sapatosna functional, at reasonably priced,” he added.
IV. Executives shield decisions from personal liability by basing them on “adequate information.” Predictive data analysis aids in meeting this requirement for strategy adjustments and individual investments. AI tools can become part of new product offerings within this framework. In production, data gathered by sensors is compared to standard norms using artificial intelligence to identify faulty products early. Systems report maintenance or replacement needs promptly through data matching.
Although using artificial intelligence remains optional, it is likely to become mandatory. A first step in this direction is the EU’s General Data Protection Regulation which includes explicit rules governing automated decision-making. While this applies to companies operating in the EU, we have many companies in the Philippines which are dealing with European clients and will have to take these regulations seriously. Additionally, other countries may well follow the EU example. In conclusion, allow me to repeat that it makes good corporate sense to let AI policies allow you to innovate while ensuring the ethical use of AI, and demonstrate integrity-based leadership. look forward to your comments; email me at hjschumacher59@gmail.com.
II. Predictive Economy’s notable feature is extensive regulation. Data privacy and new AI laws add to product and industry regulations. It’s essential to integrate these rules early in product development—perhaps making them integral to products, termed “Compliance by Design.” Early compliance integration in research, development, and product design mitigates risks associated with data handling regulations, enhancing market entry and reducing costs. III. Predictive Economy is part of a new data economy shaped by cross-industry collaborations under platform agreements and minority venture capital investments. Bilateral joint ventures are less common. Business leaders must adopt a networkcentric approach, understanding their reliance on partners. Contracts should facilitate connectivity with partner offerings, enforcing uniform technical standards and delineating data usage rights to prevent misuse and cyberattacks, especially when competitors are involved.
The mayor noted that by buying leather goods such as shoes, people are supporting local businesses, helping them thrive and flourish.
“At marami rin tayong natutulungan, patisakanilangkabuhayan,nakikitakoang ibangbumibilirito,hindilangnamanisang piraso lang, kundi may mga bumibili rin by bulk,” he said. Teodoro expressed his gratitude to Tony Andres, chairman of the Philippine Footwear Federation Inc., and everyone involved in organizing the shoe bazaar. Also present during the event were Marikina City councilors, and other officials of the city government. Claudeth Mocon-Ciriaco
MARIKINA Mayor Marcelino “Marcy” Teodoro officially opens the city’s annual Balik Eskwela Shoe Bazaar at the Freedom Park in front of the City Hall on Monday, July 8, 2024.
What are key provisions of Japan-PHL defense pact?
By Malou Talosig-Bartolome @maloutalosig
HE Philippines and Japan,
Tflanked by the East and South China seas and facing a common maritime threat, have signed a security agreement allowing Japanese and Filipino troops to hold military exercises in each other’s territory.
Philippine Defense Secretary Gilbert Teodoro Jr. and Japanese Foreign Minister Kamikawa Yoko signed the PhilippineJapan Reciprocal Access Agreement (RAA) in Malacañang Monday.
The RAA is similar to the Visiting Forces Agreement the Philippines and Japan have with the United States and Australia.
Japanese Ambassador to Manila Endo Kazuya that the Philippines is the first Asian country that Japan will have an RAA.
“This is a very important step forward for two Asian countries to make an important endeavor to facilitate mutual visits of the armed forces,” Ambassador Endo told Philippines Graphic in an earlier interview. Both sides outlined the legal framework on the presence of Japanese troops in the Philippines and Filipino troops in Japan.
Sources said both sides hammered on the nitty gritty details of jurisdiction and custody provisions of the RAA. They decided to use the Philippine-Australia VFA and Japan-Australia RAA as basis.
Kamikawa is with Defense Minister Kihara Minoru in Manila for the 2+2 Ministerial Meeting with their Filipino counterparts, Foreign Affairs Secretary Enrique Manalo and Teodoro.
The salient provisions in the agreement:
1. Japanese soldiers in the Philippines and Filipino soldiers in Japan will have limited immunity from suits during their stay.
2. Philippine jurisdiction. In case of criminal or disciplinary action committed by any Japanese soldier in the Philippines, the Philippines will have primary jurisdiction:
a. if they violated Philippines law while in the Philippines
b. if the Japanese soldier commits national security offenses such as treason, sabotage, espionage against the Philippines which are punishable only by Philippine law (exclusive jurisdiction)
c. Concurrent offense—meaning the offense is both punishable under Japan and Philippine laws, except on three conditions (see below)
3. Japan jurisdiction: In case of criminal or disciplinary action committed by any Japanese soldier in the Philippines, Japan will have primary jurisdiction if:
a. Japanese soldier violates Japanese law while in the Philippines
b. The Japanese soldier commits national security offenses such as treason, sabotage, espionage against Japan which are punishable only by Japanese law (exclusive jurisdiction applies)
c. Concurrent offense - Japan will have jurisdiction over erring Japanese soldiers for:
Offenses against the property of Japan
Offenses against the person or property of Japan
Offenses committed or in omission “done in the performance of official duty.”
* These provisions also apply to Filipino soldiers who visit Japan for military exercise or activities.
4. In the event that the Philippines deems as of “particular importance” a certain case where Japan has “primary jurisdiction,” the Philippines may request Japan to waive its right and Japan “shall give sympathetic consideration.” The same principle applies to Japan for erring Filipino soldiers.
5. Custody: The Philippines and Japan will either have custody of the erring Japanese soldier in the Philippines, depending on which side has primary jurisdiction.
If the Philippines has custody, it shall grant Japan consular access to Japanese soldier in Philippine prison. The same principle applies in Japan, for erring Filipino soldier.
DBM firm: Confidential funds will go only to agencies with intel work
By Reine Juvierre S. Alberto
ONLY agencies that truly need funding for confidential expenses for the year 2025 will receive the allocation, the Department of Budget and Management (DBM) underscored on Monday.
Budget Undersecretary Joselito R. Basilio said at the Ejap-SMC Economic Forum on Monday that the same agencies which obtained confidential funds under the 2024 General Appropriations Act (GAA) as allocated by Congress will likely receive the same funding for next year.
“The same agencies from the 2024 GAA will get confidential funds— usually those with security and intelligence functions. I don’t know the numbers yet but we will know by July 29,” Basilio said. However, he did not name the agencies expected to receive confidential funds.
The National Intelligence Coordinating Agency (Nica), National Bureau of Investigation (NBI), Philippine National Police (PNP), Armed Forces of the Philippines (AFP), Department of National Defense (DND), National Security Council
(NSC) and Office of Civil Defense (OCD) are among the government agencies mandated to maintain the security and conduct intelligence activities in the Philippines.
Confidential funds are lump sum allocations in the national budget for the purpose of purchasing information for national security and peace and order and rental of transport vehicles for confidential activities.
The fund can also be used for the rental and maintenance of safehouses, the purchase or rental of supplies and equipment for confidential operations, payment of rewards to informers, and uncovering and preventing illegal activities that pose dangers.
The House of Representatives realigned P194 billion in the proposed 2024 GAA and scrapped confidential funds from several agencies (See: https://business-
The Office of the Vice President (OVP), Departments of Education (DepEd), Information and Communications Technology (DICT), Agriculture (DA), Foreign Affairs (DFA) and the House of Representatives received “zero” confidential funds. Meanwhile, P1.23 billion in confidential funds has been reallocated to frontline agencies responsible for monitoring and protecting the country’s territorial rights in the West Philippine Sea.
The National Intelligence Coordinating Agency (Nica), National Security Council (NSC), Philippine Coast Guard (PCG), and Department of Transportation (DOTr) all received reallocated funds.
Additional allocations were also given to the Bureau of Fisheries and Aquatic Resources (BFAR), DICT, DFA, Office of the Ombudsman and DepEd’s Government Assistance to Students and Teachers in Private Education (GASTPE).
President Ferdinand R. Marcos Jr. approved the P6.352-trillion proposed national expenditures plan (NEP) for 2025. (See:
The approved amount is 10.1 percent higher than the P5.768-trillion budget for 2024 under the FY 2024 GAA. The lion’s share will be allocated to initiatives that will enhance the capability of the country’s students and labor force. Marcos Jr. is expected to present the proposed budget to Congress within 30 days of his Sona delivery, while Pangandaman targets to submit to Congress the proposed budget within one week from the President’s Sona.
DSWD, SSS ink MOA on 4Ps low-cost insurance
By Jovee Marie N. Dela Cruz @joveemarie
THE Department of Social Welfare and Development (DSWD) and the Social Security System (SSS) signed a memorandum of agreement (MOA) on Monday for a low-cost insurance program for beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps).
DSWD Secretary Rex Gatchalian said the MOA outlines the DSWD’s commitment to ensuring that 4Ps beneficiaries are educated on the importance and benefits of SSS membership
and savings schemes.
He added that it also ensures access to low-cost social insurance, contributing to the DSWD’s financial literacy efforts among its beneficiaries.
The SSS officials present during the MOA signing were Social Security System (SSS) President and Chief Executive Officer (CEO) Rolando Macasaet, Executive Vice President for Corporate Services Sector Elvira Alcantara-Resare, and Executive Vice President for Branch Operations Sector Atty. Voltaire Agas.
Dubbed the “4Ps AlkanSSSya Program,” this initiative aims to
establish a contribution subsidy table tailored to the 4Ps organized group, based on SSS’s actuarial study and the beneficiaries’ capacity to pay a minimum amount of P570 per month. The beneficiaries themselves will shoulder the SSS monthly premium.
The 4Ps beneficiaries, who are members of workers’ associations, informal sector groups (ISG), and Sustainable Livelihood Program Associations (SLPA), will also be covered by this
DOJ: PWD benefits limited only to cancer victims, not carers
By Joel R. San Juan @jrsanjuan1573
THE Department of Justice (DOJ) has declared that families of cancer survivors are not entitled to privileges and benefits granted to persons with disabilities (PWDs). In a three-page legal opinion signed “For the Secretary of Justice” by Justice Undersecretary Raul Vasquez, the DOJ noted that Section 3(e) of the Implementing Rules and Regulations of Republic Act No. 11215 also known as the National Integrated Cancer Control Act defines “cancer patients,” “persons living with cancer,” and “cancer survivors” as those who have actually received the diagnosis of cancer and not their family, friends or carers. The DOJ issued the legal opinion upon the request of National Council on Disability Affairs (NCDA) Executive Director III Glenda Relova which stemmed from the query of a certain Atty. Dennis Ausan addressed to DSWD
Secretary Rex Gatchalian, which was endorsed to the NCDA.
Ausan sought guidance on whether his wife and children who have seen him through with, and beyond cancer, can be considered as survivors and thus, can be accorded the benefits provided for PWDs under R.A. No 7277 or the Magna Carta for Disabled Persons, as amended. Relova sought the DOJ’s position on the issue in the context of Section 26 and Section 3(h) of R.A. 11215. Section 26 of R.A. 11215 states: “The cancer patients, persons living with cancer and cancer survivors are accorded the same rights and privileges as PWDs and the DSWD [Department of Social Welfare and Development] shall ensure that their social welfare and benefits provided under Republic Act 7277, as amended, are granted to them. Further the DOLE [Department of Labor and Employment] shall adopt programs which promote work and employment opportunities for able
persons with cancer and cancer survivors.
Section 3 (h), on the other hand, states: “Cancer survivorship refers to the period starting at the time of disease diagnosis and continues throughout the rest of the patient’s life. Family, carers, and friends are also considered survivors. Survivorship care has three distinct phases: living through, with, and beyond cancer.”
However, the DOJ said this provision should be read in conjunction with other pertinent provisions of R.A. 11215.
“Considering the foregoing and for the purpose of determining as to who are eligible to the benefits and privileges of PWDs under R.A. No. 7277, as amended, we agree with your position that cancer patients, persons living with cancer, and cancer survivors, as provided under Section 26 of R.A. No. 11215, refer to the actual patients or survivors themselves and not to their family, friends or carers,” the DOJ said.
partnership.
Under the agreement, the SSS will also assist the DSWD in the registration and processing of applications for all eligible beneficiaries.
The roles and responsibilities of both agencies in the conduct of seminars and orientation activities for the 4Ps organized groups are also included in the MOA.
The 4Ps, one of the DSWD’s flagship programs, is a national poverty reduction strategy institutionalized under Republic Act No. 11310, or “An Act Institutionalizing Pantawid Pamilyang Pilipino Program [4Ps],” signed on April 17, 2019. As of May 31, there are 4.3 million household beneficiaries nationwide that are receiving conditional cash grants under the program.
Chinese president urges world powers to help restart Russia-Ukraine talks as Hungary’s Orbán visits Beijing
BEIJING—Chinese President Xi Jinping has called on world powers to help Russia and Ukraine resume direct dialogue and negotiations during a meeting Monday with Hungary’s Prime Minister Viktor Orbán, according to state broadcaster CCTV.
Orbán made a surprise visit to China after similar trips last week to Russia and Ukraine to discuss prospects for a peaceful settlement in Ukraine.
Orbán praised China’s “constructive and important initiatives” for achieving peace and described Beijing as a stabilizing force amid global turbulence, according to CCTV.
“Peace mission 3.0” is how Orbán captioned a picture posted
early Monday on the X social media platform depicting him after having stepped off his plane in Beijing. He was being greeted by Chinese Vice Minister of Foreign Affairs Hua Chunying and other officials. Orbán later met with Chinese President Xi Jinping, according to state broadcaster CCTV.
Besides Russia and Ukraine, the end of the war “depends on the decision of three world powers,
the United States, the European Union and China,” Orbán wrote in a Facebook post showing him shaking hands with Xi. Orbán met with Xi just two months ago when he hosted the
Chinese leader in Hungary as part of a three-country European tour that also included stops in France and Serbia, which unlike the other two is not a member of the European Union or NATO.
Russia uses hypersonic missiles in an attack on Kyiv; fires break out in some
city districts
KBy Hanna Argirova & Illia Novikov The Associated Press
YIV, Ukraine—Russian forces launched multiple ballistic and cruise missiles against Ukrainian targets on Monday, Ukraine’s air force said, with explosions felt and heard across the capital, Kyiv.
The daylight attack included Kinzhal hypersonic missiles, one of the most advanced Russian weapons, the air force said. The Kinzhal flies at 10 times the speed of sound, making it hard to intercept. City buildings shook from the blasts.
The Kyiv city administration reported falling debris, presumably from intercepted missiles, in the Solomianskyi, Dniprovskyi, Holosiivskyi and Shevchenkivskyi districts of Kyiv, starting fires. Thick plumes of smoke rose from several Kyiv neighborhoods.
The head of Ukraine’s presidential office, Andrii Yermal, said the attack occurred at a time when many people were in the city’s streets.
Kyiv Mayor Vitali Klitschko
said at least three people were injured and that official assessments of the attack’s consequences were still being carried out. Ambulances were heading to the Solomianskyi district, he said, adding that a
children’s medical facility was hit. The attack came on the eve of a three-day NATO summit in Washington, which will look at how to reassure Ukraine of the alliance’s unwavering support and offer
Ukrainians hope that their country can come through Europe’s biggest conflict since World War II. Explosions were also reported by local officials in Ukraine’s central Dnipropetrovsk region.
Gaza destruction likely helped push Hamas to soften cease-fire demands, officials say
By Jon Gambrell The Associated Press
DUBAI, United Arab Emirates—Several officials in the Middle East and the US believe the level of devastation in the Gaza Strip caused by a nine-month Israeli offensive likely has helped push Hamas to soften its demands for a cease-fire agreement. Hamas over the weekend appeared to drop its longstanding demand that Israel promise to end the war as part of any ceasefire deal. The sudden shift has raised new hopes for progress in internationally brokered negotiations.
Israeli Prime Minister Benjamin Netanyahu on Sunday boasted that military pressure—including Israel’s ongoing twomonth offensive in the southern Gaza city of Rafah—“is what has led Hamas to enter negotiations.” Hamas, an Islamic militant group that seeks Israel’s destruction, is highly secretive and little is known about its inner workings.
But in recent internal communications seen by The Associated Press, messages signed by several senior Hamas figures in Gaza urged the group’s exiled political leadership
to accept the cease-fire proposal pitched by US President Joe Biden. The messages, shared by a Middle East official familiar with the ongoing negotiations, described the heavy losses Hamas has suffered on the battlefield and the dire conditions in the war-ravaged territory. The official spoke on condition of anonymity to share the contents of internal Hamas communications.
It was not known if this internal pressure was a factor in Hamas’ flexibility. But the messages indicate divisions within the group and a readiness among top militants to reach a deal quickly, even if Hamas’ top official in Gaza, Yahya Sinwar, may not be in a rush. Sinwar has been in hiding since the war erupted last October and is believed to be holed up in a tunnel deep underground. US officials declined to comment on the communications.
But a person familiar with Western intelligence who spoke on the condition of anonymity to discuss the sensitive matter said the group’s leadership understands its forces have suffered heavy losses and that has helped Hamas move closer to a cease-fire deal.
Two US officials say the Americans are aware of internal divisions within Hamas
and that those divisions, the destruction in Gaza or pressure from mediators Egypt and Qatar could have been factors in the militant group softening its demands for a deal. The US officials spoke on the condition of anonymity to discuss the Biden administration’s view of the current situation.
The Middle Eastern official shared details from two internal Hamas communications, both written by senior officials inside Gaza to the group’s exiled leadership in Qatar, where Hamas’ supreme leader, Ismail Haniyeh, is based.
The communication suggested that the war had taken a toll on Hamas fighters, with the senior figures urging the militant’s political wing abroad to accept the deal despite Sinwar’s reluctance.
Hamas spokesperson Jihad Taha dismissed any suggestions of divisions within the group.
“The movement’s position is unified and is crystallized through the organizational framework of the leadership,” he said.
The intelligence official showed The Associated Press a transcript of the communications in Arabic, but declined to share specific details about how the information was obtained, or the raw form
of the communications.
The official said the communications took place in May and June and came from multiple senior officials inside the group’s military wing in Gaza.
The messages acknowledged Hamas fighters had been killed and the level of devastation to the Gaza Strip wrought by the Israeli campaign in the enclave. They also suggest that Sinwar either isn’t fully aware of the toll of the fighting or isn’t fully communicating it to those negotiating outside of the territory.
It was not known whether Haniyeh or any other top officials in Qatar had responded.
Israeli officials declined to comment on the communications. Egypt and Qatar also had no immediate comment.
Egypt and Qatar have been working with the United States to broker a cease-fire and end the devastating nine-month war. After months of fits and starts, talks resumed last week and are scheduled to continue in the coming days.
The Associated Press writers Aamer Madhani and Matthew Lee in Washington contributed to this report.
Hungary under Orbán has built substantial political and economic ties with China. The European nation hosts a number of Chinese electric vehicle battery facilities, and in December it announced that Chinese EV manufacturing giant BYD will open its first European EV production factory in the south of the country.
His previously unannounced visit comes on the heels of similar trips last week to Moscow and Kyiv, where he proposed that Ukraine consider agreeing to an immediate cease-fire with Russia.
His visit to Moscow drew condemnation from Kyiv and European leaders.
“The number of countries that can talk to both warring sides is diminishing,” Orbán said. “Hungary is slowly becoming the only country in Europe that can speak to everyone.”
Hungary assumed the rotating presidency of the EU at the
start of July and Russian President Vladimir Putin suggested Orbán had come to Moscow as a top representative of the European Council. Several top European officials dismissed that suggestion and said Orbán had no mandate for anything beyond a discussion about bilateral relations.
The Hungarian prime minister, widely seen as having the warmest relations with Putin among EU leaders, has routinely blocked, delayed or watered down EU efforts to assist Kyiv and impose sanctions on Moscow for its actions in Ukraine. He has long argued for a cessation of hostilities in Ukraine but without outlining what that might mean for the country’s territorial integrity or future security. That posture has frustrated Hungary’s EU and NATO allies, who have denounced Russia’s actions as a breach of international law and a threat to the security of countries in Eastern Europe.
Indian Prime Minister Modi makes first visit to Russia since the start of its war on Ukraine
By Krutika Pathi & Jim Heintz
The Associated Press
INDIA’S prime minister begins a two-day visit to Russia on Monday, his first since Moscow launched its invasion of Ukraine, a war that has complicated the relationship between the longtime allies and pushed Russia closer to India’s rival China.
Prime Minister Narendra Modi’s visit will include a meeting with President Vladimir Putin, whom he last saw in Russia in 2019, in the far eastern port of Vladivostok. The two leaders also met in person in September 2022 in Uzbekistan, at a summit of the Shanghai Cooperation Organization bloc.
Russia has had strong ties with India since the Cold War, and New Delhi’s importance as a key trading partner for Moscow has grown since the Kremlin sent troops into Ukraine in February 2022. China and India have become key buyers of Russian oil following sanctions imposed by the United States and its allies that shut most Western markets off to Russian exports.
Under Modi’s leadership, India has avoided condemning Russia’s war in Ukraine while emphasizing the need for a peaceful settlement.
The partnership between Moscow and New Delhi has become fraught, however, since Russia started developing closer ties with India’s main rival, China, because of the hostilities in Ukraine.
Modi notably stayed away last week from the most recent summit of the Shanghai Cooperation Organization, in Kazakhstan.
Chietigj Bajpaee, senior South Asia research fellow at the U.K.-based Chatham House, said India is becoming increasingly estranged from forums in which Russia and China play a prominent role.
“This is evident in India’s relatively low key presidency of the Shanghai Cooperation Organization last year, and now the decision by Modi not to attend this year’s summit,” Bajpaee said.
A confrontation in June 2020 along the disputed China-India border dramatically altered their already touchy relationship as the rival troops fought with rocks, clubs and fists. At least 20 Indian soldiers and four Chinese soldiers were killed. Tensions have since persisted despite talks.
Those tensions have seeped into how New Delhi looks at Moscow.
“Russia’s relations with China have been a matter of some concern for India in the context of Chinese increased assertiveness in the region,” D. Bala Venkatesh Verma, a former Indian ambassador to Russia, told The Associated Press.
But Modi also will seek to continue close relations with Russia, an important trading partner and major defense supplier for India.
Since Western sanctions blocked Russian oil exports after the start of the Ukraine war, India has become a key buyer of Russian oil. It now gets more than 40 percent of its oil
imports from Russia, according to analysts. India is also strongly dependent on Russia for military supplies, but with Moscow’s supply line hit by the fighting in Ukraine, India has been diversifying its defense procurements, buying more from the US, Israel, France and Italy.
“Defense cooperation will clearly be a priority area,” Bajpaee said, adding that 60 percent of India’s military equipment and systems is “still of Russian origin.”
“We’ve seen some delay in the deliveries of spare parts...following the Russian invasion of Ukraine,” he said. “I believe both countries are due to conclude a military logistics agreement, which would pave the way for more defense exchanges.” India has adopted a neutral stance, neither condemning nor condoning Russia’s war on Ukraine, and has called for negotiations to end the fighting. That in turn has bolstered Putin’s efforts to counter what he calls the West’s domination of global affairs.
Facing an arrest warrant by the International Criminal Court for actions over the war in Ukraine, Putin’s foreign travel has been relatively sparse in recent years, so Modi’s trip could help the Russian leader boost his image.
“We kind of see Putin going on a nostalgia trip—you know, he was in Vietnam, he was in North Korea,” said Theresa Fallon, an analyst at the Center for Russia, Europe, Asia Studies. “In my view, he’s trying to demonstrate that he’s not a vassal to China, that he has options, that Russia is still a great power.” Alexander Gabuev, head of the Carnegie Russia Eurasia Center, said that Putin’s interactions on the world stage show he “is far from isolated” and that Russia is not a country to be discounted. Trade development also will figure strongly in the talks, particularly intentions to develop a maritime corridor between India’s major port of Chennai and Vladivostok, the gateway to Russia’s Far East. India-Russia trade has seen a sharp increase, touching
HUNGARY Prime Minister Viktor Orban, left, and Chinese President Xi Jinping, right, shake hands before a meeting at the Great Hall of the People in Beijing, China on February 13, 2014. Orban is making a surprise visit to China on Monday, July 8, 2024, after similar trips to Russia and Ukraine to discuss prospects for
MALOLETKA
The World
French left coalition secures majority in elections, resulting in hung parliament and political paralysis
By John Leicester, Lori Hinnant & Sylvie Corbet The Associated Press
PARIS—A coalition of the French left won the most seats in highstakes legislative elections Sunday, beating back a far-right surge but failing to win a majority. The outcome left France, a pillar of the European Union and Olympic host country, facing the stunning prospect of a hung parliament and political paralysis.
The political turmoil could rattle markets and the French economy, the EU’s second largest, and have far-ranging implications for the war in Ukraine, global diplomacy and Europe’s economic stability.
In calling the election on June 9, after the far right surged in French voting for the European Parliament, President Emmanuel Macron said turning to voters again would provide “clarification.”
On almost every level, that gamble appears to have backfired.
According to the official results released early Monday, all three main blocs fell far short of the 289 seats needed to control the 577-seat National Assembly, the more powerful of France’s two legislative chambers. The results showed just over 180 seats for the New Popular Front leftist coalition, which placed first, ahead of Macron’s centrist alliance, with more than 160 seats. Marine Le Pen’s far-right National Rally and its allies were restricted to third place, although their more than 140 seats were still way ahead of the party’s previous
best showing—89 seats in 2022.
A hung parliament is unknown territory for modern France.
“Our country is facing an unprecedented political situation and is preparing to welcome the world in a few weeks,” said Prime Minister Gabriel Attal, who plans to offer his resignation later in the day.
With the Paris Olympics looming, Attal said he was ready to stay at his post “as long as duty demands.” Macron has three years remaining on his presidential term. Attal made clearer than ever his disapproval of Macron’s shock decision to call the election, saying “I didn’t choose this dissolution” of the outgoing National Assembly, where the president’s centrist alliance used to be single biggest group, albeit without an absolute majority. Still, it was able to govern for two years, pulling in lawmakers from other camps to fight off efforts to bring it down.
The new legislature appears shorn of such stability. When Macron flies to Washington for a summit of the NATO alliance
this week, he will leave a country with no clear idea who may be its next prime minister and facing the prospect that the president may be obliged to share power with a politician deeply opposed to his policies.
Still, many rejoiced. In Paris’ Stalingrad Square, supporters on the left cheered and applauded as projections showing the alliance ahead flashed up on a giant screen. Cries of joy also rang out in Republique plaza in eastern Paris, with people spontaneously hugging strangers and several minutes of nonstop applause after the projections landed.
Marielle Castry, a medical secretary, was on the Metro in Paris when projected results were first announced.
“Everybody had their smartphones and were waiting for the results and then everybody was overjoyed,” said the 55-year-old. “I had been stressed out since June 9 and the European elections.... And now, I feel good. Relieved.”
New British PM Starmer aims to renegotiate EU trade deal
By Brian Melley Associated Press
LONDON—British Prime Minister Keir Starmer is seeking to reset relations at home and abroad.
During a visit Sunday to Edinburgh, that he billed as an “immediate reset” with the regional governments of Scotland, Northern Ireland and Wales, Starmer said he would also seek to improve the UK’s “botched” trade deal with the European Union.
“I do think that we can get a much better deal than the botched deal that (former Prime Minister) Boris Johnson saddled the UK with,” he said in reference to the pact negotiated after Brexit. Starmer said there were many discussions ahead to strengthen trading, research and defense ties with the EU. But he said those talks had begun as his top diplomat made his first visit abroad to Germany, Poland and Sweden. With two of Starmer’s ministers in Europe ahead of a NATO meeting next week, the premier made a point of visiting the leaders of the regional governments in the UK following his party’s landslide victory last week. Starmer, who said he has a “mandate to do politics differently,” met with Scottish First Minister John Swinney in an effort to “turn disagreement into cooperation.”
“We will serve every single person in Scotland,” Starmer told a group of enthusiastic supporters. “Performance, self-interest: they’re the politics of the past. The politics of this Labour government of 2024 is about public service, restoring standards of making sure that we always, always have in our mind’s eye the people who elected us into government.”
While each of the devolved nations in the UK elects members to the House of Commons in London, they also have their own regional parliaments.
Starmer’s Labour Party trounced Swinney’s
Scottish National Party for seats in Parliament. But the SNP, which has pushed for Scottish independence, still holds a majority at Holyrood, the Scottish parliament.
Swinney said after meeting the prime minister that he believed there’s an opportunity to work together to make a difference for the Scottish people.
The trip to build better working relations across the UK comes as Starmer’s government faces a mountain of problems.
The Labour government inherited a wobbly economy that left Britons struggling to pay bills after global economic woes and fiscal missteps. It also faces a public disenchanted after 14 years of chaotic Conservative rule and fiscal austerity that hollowed out public services, including the revered National Health Service, which Starmer has declared broken.
Starmer said he wants to transfer power from the bureaucratic halls of government in London to leaders who know what’s best for their communities.
After his two-day tour, he’ll return to England, where he plans to meet with regional mayors, saying he would engage with politicians regardless of their party.
“There’s no monopoly on good ideas,” he said “I’m not a tribal political.”
Starmer continued to speak with other world leaders, having separate calls with Israeli Prime Minister Benjamin Netanyahu and Palestinian President Mahmoud Abbas.
He spoke with both about his priorities for a cease-fire in the Gaza Strip, the return of hostages to Israel, and an increase in humanitarian aid, a spokesperson said.
He told Abbas that the recognition of a Palestinian state as part of a peace process was the “undeniable right of Palestinians” and told Netanyahu it was important to ensure the long-term conditions for a two-state solution, including ensuring financial means for Abbas’ Palestinian Authority to operate effectively.
Labour’s initial refusal to call for a ceasefire last year is blamed for costing it support and some seats in Thursday’s election.
In advance of Starmer’s attendance Tuesday at a NATO meeting in Washington, Foreign Secretary David Lammy reiterated an “unshakeable” commitment to the alliance during his first trip abroad.
Lammy said that the UK government would tighten relations with the European Union and remains “ironclad” in its support for Ukraine.
“European security will be this government’s foreign and defense priority,” Lammy said in Poland. “Russia’s barbaric invasion has made clear the need for us to do more to strengthen our own defenses.”
However, Lammy reiterated Starmer’s pledge not to rejoin the EU single market after British voters in 2016 voted to break from the political and economic union.
“Let us put the Brexit years behind us,” Lammy told The Observer. “We are not going to rejoin the single market and the customs union but there is much that we can do together.”
Business Secretary Jonathan Reynolds said Sunday on Sky News that the UK should look for ways to improve trade with the EU and that removing some trade barriers was sensible.
But he said the Labour government was not open to the free movement of people that was required as a member of the union.
Meanwhile, Defense Secretary John Healey met with Ukrainian President Volodymyr Zelenskyy in Odessa and said the UK would provide a new package of support to Ukraine, including more artillery guns and nearly 100 Brimstone missiles.
Healey also said he would make sure the remaining military commitments to Ukraine by the previous government would be delivered within 100 days.
A redrawn political map
EVEN before votes were cast, the election redrew France’s political map. It galvanized parties on the left to put differences aside and join together in the new leftist alliance. It pledges to roll back many of Macron’s headline reforms, embark on a massively costly program of public spending and take a far tougher line against Israel because of the war with Hamas.
Macron described the left’s coalition as “extreme” and warned that its economic program of many tens of billions of euros in public spending, partly financed by tax hikes for high earners and on wealth, could be ruinous for France, already criticized by EU watchdogs for its debt.
Yet, the New Popular Front’s leaders immediately pushed Macron to give the alliance the first chance to form a government and propose a prime minister.
The most prominent of the leftist coalition’s leaders, JeanLuc Mélenchon, said it “is ready
to govern.” While the National Rally took more seats than ever, the antiimmigration party with historical links to antisemitism and racism fell far short of its hopes of securing an absolute majority that would have given France its first far-right government since World War II.
“Disappointed, disappointed,” said far-right supporter Luc Doumont, 66. “Well, happy to see our progression, because for the past few years we’ve been doing better.”
After the party finished top of the first-round vote last weekend, its rivals worked to dash its hopes of outright victory Sunday, by strategically withdrawing candidates from many districts. That left many far-right candidates in head-to-head contests against just one opponent, making it harder for them to win.
Many voters decided that keeping the far right from power was more important to them than anything else, backing its opponents in the runoff, even if they weren’t from the political camp they usually support.
Still, National Rally leader Le Pen, expected to make a fourth run for the French presidency in 2027, said the elections laid the groundwork for “the victory of tomorrow.”
“The reality is that our victory is only deferred,” she added. But Le Pen’s older sister, Marie-Caroline, was among her party’s losers Sunday, defeated by a leftist candidate and just 225 votes in her district.
Jordan Bardella, Le Pen’s 28-year-old protégé who’d been hoping to become prime minister, rued that the national outcome “throws France into the arms of the extreme left.”
A statement from Macron’s office indicated that he wouldn’t be
rushed into inviting a potential prime minister to form a government. It said he was watching as results came in and would wait for the new National Assembly to take shape before taking “the necessary decisions.”
Unknown territory
UNLIKE other countries in Europe that are more accustomed to coalition governments, France doesn’t have a tradition of lawmakers from rival political camps coming together to form a majority. France is also more centralized than many other European countries, with many more decisions made in Paris.
The president was hoping that with France’s fate in their hands, voters might shift from the far right and left and return to mainstream parties closer to the center—where Macron found much of the support that won him the presidency in 2017 and again in 2022.
But rather than rally behind him, millions of voters seized on his surprise decision as an opportunity to vent their anger about inflation, crime, immigration and other grievances—including Macron’s style of government.
The sharp polarization of French politics – especially in this torrid and quick campaign – is sure to complicate any effort to form a government. Racism and antisemitism marred the electoral campaign, along with Russian disinformation campaigns, and more than 50 candidates reported being physically attacked—highly unusual for France.
The Associated Press journalists Barbara Surk in Nice, France, and Helena Alves, Diane Jeantet, Jade Le Deley, and Alex Turnbull in Paris contributed to this report.
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The poverty premium: A crushing burden on poor PHL households
DESPITE the slowdown in inflation in June, the uptick in commodity prices further eroded the purchasing power of Filipinos nationwide, according to the latest data from the Philippine Statistics Authority (PSA). The PSA reported that inflation slowed to 3.7 percent in June 2024 on the back of cheaper energy prices. However, this does not tell the whole story. (Read the BusinessMirror story: “June inflation at 3.7%, prices still hurt poor,” July 6, 2024).
T he recent slowdown in inflation, whi le a welcome respite, does little to allev iate t he plight of Fi lipinos struggling w it h t he ever-increasing cost of living. T he stark real ity is t hat t he poor pay a “pover ty premium,” a phenomenon where goods and ser v ices are signif icantly more expensive for low-income households compared to t he national average. T his burden, high lighted in t he Asian Development Bank (ADB) repor t, exacerbates ex isting inequalities and traps Fi lipinos in a cycle of pover ty.
T he repor t reveals t hat poor Fi lipinos are forced to buy in small quantities (ting i), which may seem cheaper at f irst but u ltimately proves more expensive in t he long run. T hey also face higher transpor tation costs due to poor inf rastructure in t heir communities, limiting t heir access to economic opportunities. Moreover, t he lack of access to affordable electricity and appliances forces t hem to rely on expensive alter natives li ke kerosene and biomass for cook ing and ref rigeration.
Unfor t u nately, t he Nat ional Econom ic and Development A ut hority and t he Bangko Sent r al ng Pi l ipi nas h ave expressed t he ir conce r n t h at t he wor st of i nflat ion may not be ove r yet, del ive ri ng some u nfavor able news.
Alt hou g h i nflat ion showed s i gns of slow i ng down i n Ju ne, BSP Gove r nor El i M. Remolona Jr sa id t he re i s a 50-50 c h ance of i nflat ion breac hi ng 4 pe rcent i n Ju ly. Soc ioeconom ic Plann i ng Sec reta r y A r sen io M. Bal i sacan sa id rice prices rema i n hi g h due to global factor s and nonfood items played a s i gn i f icant role i n t he 3.7-pe rcent Ju ne i nflat ion r ate. He sa id t he l i kel ihood of ext reme i nflat ion s it u at ions i s dec reas i ng, but he cannot g u a rantee t h at t he re w i ll be no u nexpected price i nc reases i n ut i l it ies. ( R ead the BusinessMirror report: “Neda , B S P: Worst not yet o ver on inflation ,” Jul y 8 , 2024).
T he “pove r ty prem iu m” extends beyond bas ic necess it ies. Poor hou seholds a re often prey to predator y payday lende r s w ho c h a rge exor bitant i nte rest r ates, f ur t he r deepen i ng t he ir f i nanc i al woes. T he repor t also hi g h l i g hts t he d i spropor t ionate i mpact of i nflat ion on low- i ncome Fi l ipinos, w ho expe rience faste r price i nc reases for essent i al goods l i ke food, elect ric ity, and f uel.
T he recent PSA data conf ir ms t hese f ind ings. W hi le overall inflation slowed to 3.7 percent in June, t he CPI for t he bottom 30 percent of Fi lipinos reached 129.1, ind icating a signif icantly higher cost of liv ing for t he poorest segment of society. T his translates to a purchasing power of only 0.7746 centavos for ever y peso, meaning low-income Fi lipinos need to spend P122.54 today for P100 wor t h of items in 2018.
T he gover nment’s effor ts to address inflation, such as t he reduction in rice tariffs and t he Ay uda sa Kapos ang K ita Prog ram (AKA P), are commendable but insuff icient. Addressing t he “pover ty premium” requires a mu ltifaceted approach t hat goes beyond shor t-ter m inter ventions.
T he “pover ty premium” is a harsh reality for mi llions of Fi lipinos. Addressing t his issue is not merely about economic g rowt h but about ensuring a fa ir and equitable society where ever yone has t he oppor tunity to t hrive. It requires a commitment f rom t he gover nment, businesses, and civ i l society to create a more inclusive and susta inable f uture for all Fi lipinos.
BusinessMirror
Combating African Swine Fever through community engagement and strategic communication
ABy Dr. Lionel Dabbadie & Dr. Constante Palabrica
FRICAN Swine Fever (ASF) continues to ravage wild and farmed pig populations across Asia and the Pacific. In the ongoing battle against this disease, the focus has increasingly turned towards innovative strategies like risk communication and community engagement, or RCCE. This approach, spotlighted during the ninth meeting of the Standing Group of Experts on ASF in Asia and the Pacific recently organized in Manila by the Food and Agriculture Organization of the United Nations, the World Organization for Animal Health and the Department of Agriculture-Bureau of Animal Industry, marks a significant shift from traditional technical strategies towards integrating social and behavioral factors in disease management.
ASF presents major challenges: it is a high ly contag ious v iral d isease, w it h a fatality rate close to 100 percent. T here is no cure as of today, so t hat trad itional control measures, such as cu lling infected and susceptible animals, enforcing stringent biosecurity protocols, and restricting t he movement of pigs and pork products, have been the main control met hods used so far Vaccines are promising, but t hey are not a panacea. Yet, t he economic repercussions of ASF are severe, w it h livelihoods, trade, and food supply cha ins deeply d isrupted. T he persistent nature of t he v irus in t he env ironment and processed products also complicates
eradication efforts. T hus, addressing ASF needs more t han just technical solutions: it demands an integ rated and holistic approach
T he emph asi s on RCCE u nderscores how hu man beh av ior i s key to cont roll i ng ASF spread. Indeed, d isease transmission among domest ic and w i ld pigs i s sign i f icantly i nfluenced by hu man act iv it ies suc h as fa r m v i sits, an i mal movements and t rade. T hi s high l ights a c rit ical gap i n our c urrent response st rateg ies, whic h effect ive RCCE st rateg ies can help i n bridg i ng. In t he Phi l ippi nes, t he Commu n ity ASF Biosec urity Inter vent ion pi lot demonst rated how i nvolv i ng fa r mers
The progress highlighted during the Ninth SGE-ASF meeting lays a solid foundation for future efforts. The battle against ASF is far from over and we need to remain committed to a multidisciplinary approach that integrates scientific innovation with strategic communication and genuine community involvement. Together, we can combat ASF more effectively, ensuring better production, a better environment, better nutrition, and a better life for all affected communities.
i n co-developi ng biosec urity measures can sign i f icantly en h ance ong round implementat ion and d isease spread prevent ion. It high l ighted how mu lt i lateral knowledge sh a ri ng, and en h anced coord i nat ion among va riou s stake holde r s a re key for developi ng comprehensive d i sease response f rameworks t h at a re bot h effect ive and adaptable to local contexts. As we move for ward, t he call to action is clear: we must invest and st r engt h en ev i dence-based ASF management and RCCE pol ic ies.
T hi s i nvolves develop i ng rob u st commu n icat ion f r ameworks t h at are infor med by best practices and ta i lored to meet specif ic local needs. Fur t her more, fostering global and reg ional cooperation rema ins crucial for improv ing d isease sur vei llance and management strateg ies. Empowe ri ng commu n it i es
control and prevention of ASF. T he prog ress high lighted during t he Nint h SGE-ASF meeting lays a solid foundation for f uture effor ts. T he battle aga inst ASF is far f rom over and we need to rema in
a better env ironment, better nutrition, and a better life for all affected communities.
Dr. Lionel Dabbadie is the FAO Representative in the Philippines, and Constante Palabrica is the Chief Veterinary Officer of the Philippines.
More House Democrats want Biden out of race as tension rises
By Billy House, Erik Wasson, Akayla Gardner & Alicia Diaz
to 36. E-mail: news.businessmirror@gmail.com www.news.businessmirror@gmail.com Printed by
Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila Ambassador Antonio L. Cabangon Chua Founder
SEVERAL influential congressional Democrats said privately on Sunday they want Joe Biden to step aside as the party’s White House nominee, as the US president enters a pivotal week for his teetering reelection campaign.
T he latest defections include several Democrat ic leaders of House committees, a signal t hat even some par ty stalwar ts in Cong ress want a new person at t he top of t he ticket follow ing Biden’s stumbling debate aga inst Donald Trump last mont h
T he defect ions include Jerrold Nadle r and Joe Morelle of New York; Adam Smit h of Washington; and Mark Takano of Califor nia, accord ing to people fami liar w it h t he d iscussion. T he members expressed t heir v iews in a private v ir tual call on Sunday after noon organized by House Minority Leader Hakeem Jeff ries. T hat amounts to a total of nine House Democrats who have called for Biden to step aside.
T he fallout f rom Biden’s Ju ne
27 show ing aga inst Trump continues to reverberate. T he incumbent president has been def iant aga inst calls for him to step aside, repeatedly say ing t hat he has no plans to suspend his reelect ion campa ign.
But t his week presents f resh challenges as Biden hosts members of
t he Nor t h Atlantic Treaty Organization in Washington and members of Cong ress retur n to t he Capitol after largely being away since t he debate. Most, if not all, of t he par ticipants in t he call w it h Jeff ries are Democrats not facing much danger of losing their November campaigns. T heir posts atop cong ressional panels reflect, in part, their seniority and relat ive reelect ion security. Many have worked w it h Biden in some capacity over his nearly f ive decades in gover nment.
Sen i o r Democ r ats, i ncl u d i ng R ichie Neal of Massachusetts and Don Beyer of Virg inia, sa id in statements after t he meeting t hat t hey want Biden to stay in t he race.
A reg u la rly sc hedu led meet ing w it h all House Democrats set for Tuesday mor ning w ill be more telling of t he sentiment across t he caucus, and w i ll include t hose members facing compet itive reelection contests and who fear down-ballot repercussions f rom Biden voter fallout. Panic is more pronounced in t he
House t han in t he Senate, because Democrats in that chamber had high hopes of tak ing t he majority prior to t he debate.
Jeff ries’ spokesman declined to comment on t he meeting, say ing it was a private call.
Democrats doubt SEVERAL lead i ng Democ rats also spoke publ icly Su nday i n telev i sed i nter v iews: None d irectly called for Biden to leave t he race, but t hey quest ioned whet her he shou ld go for wa rd.
“T he per for mance on t he debate stage, I t hink, rightf u lly ra ised questions,” Representative Adam Schiff, Democ r at of Cal i for n i a, sa id on NBC’s Meet t he Press. “He shou ld be mopping t he floor w it h Donald Trump.”
“It shou ld not be even close,” Schiff added. “And t here’s only one reason it is close, and that’s the president’s age.” A repor ted meeting t hat was being arranged for Monday by Senator Mark War ner of Virg inia so Senate Democrats cou ld d iscuss t heir suppor t of Biden rema ining on t he presidential ticket isn’t going to occur a person fami liar w it h War ner’s t hink ing
By Ellen Knickmeyer | T he Associat
in Washington confronting the prospect that the military alliance’s most prominent critic, Donald Trump, may return to power over its mightiest military. Nato—made up of 32 European and Nor
nations in Nato are meeting defensespend ing goals.
Output VAT credit on uncollected receivables
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ance t
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ever been. But behind the scenes, a dominant topic w i ll be preparing for possible d iv ision, as t he power of far-right forces unf riendly to Nato g rows in t he US and ot her countries, including France, ra ising concer ns about how strong suppor t w i ll stay for t he alliance and t he mi litar y a id t hat its members send to Uk ra ine.
At t he presidential debate, Biden asked Trump: “You re going to stay in Nato or you ’ re going to pu ll out of Nato? Trump ti lted his head in a shrug.
Biden’s poor debate per for mance set off a f renzy about whet her t he 81-yea r-old president is f it for off ice or shou ld step aside as t he Democratic presidential cand idate. Even before the debate, European gover nments were deep in consu ltations on what t hey cou ld do to ensure t hat Nato, Wester n suppor t for Uk ra ine and t he security of ind iv idual Nato countries w i ll endure shou ld Trump w in back t he presidency in November and temper US contributions.
Some Americans and Europeans call it “Trump-proof ing” Nato—or “f uture-proof ing” it when t he political advances of far-right political blocs in Europe are factored in.
T his week’s summit, held in t he city where t he mutual-defense alliance was founded in 1949, was once expected to be a celebration of Nato’s endurance. Now, a European off icial sa id, it looks “gloomy.”
T here a re two reasons for t he gloom: Russian advances on t he battlef ield in t he mont hs t hat Trumpall ied cong ress ional Repu bl icans delayed US a r ms and f u nd ing to Uk ra ine. And t he possibi lity of farrig ht gover nments u nf riendly to Nato coming to power T he off icial spoke to repor ters last week on cond ition of anonymity to d iscuss private conversations among gover nments.
Rachel R izzo, a senior fellow on Nato w it h t he nonpar t isan t hink tank t he Atlantic Counci l, says she has a blunt message for Europeans: “Freak ing out about a second Trump ter m helps no one.” For allies at t he summit, she sa id, t he key w i ll be resisting t he temptation to dwell on the details of unprecedented events in US politics and put t heir heads down on ready ing Wester n mi l itar y a id for Uk ra ine and preparing for any lessening of US suppor t. Trump, who before and after his presidency has spoken admiringly of Russian President Vlad imir Putin and harsh ly of Nato, often focuses his compla ints on t he US share of t he alliance’s costs. Biden himself, as a US seNator in 1997, war ned t hat if t here were any sense ot her Nato allies were “tak ing t he United States for suckers, t he f uture of t he alliance in t he next centur y w i ll be ver y much in doubt.”
T he 1991 collapse of t he Sov iet Union lu lled t he West into t hink ing the Russian threat had been neutralized, lead ing to mi litar y spend ing cuts. Now, Nato allies are bolstering t heir forces aga inst any w ider agg ression by Putin, and a record 23
One of Trump’s for mer national security adv isers, John Bolton, says Trump in a second ter m wou ld work to get t he US out of Nato. Cong ress passed leg islation last year mak ing t hat harder, but a president cou ld simply stop collaborating in some or all of Nato’s missions. Trump’s campa ign d id not immed iately respond to an e-ma i l seek ing comment.
Elect ions i n France saw a Natoadverse fa r -right pa r ty u nder Mari ne Le Pen g reatly i nc rease t he nu mber of seats it holds i n pa rl i ament. Fa r -right forces also a re ga i ni ng i n Ger many.
Some European off icials and analysts say t hat’s simply t he rise and fall of voter alleg iance in democracies, which Nato has dealt w it h before. T hey point to Poland, where a right-w ing par ty lost power last year and whose people have been among Nato’s most ardent suppor ters. T hey also note Italy, where right-w ing popu list Prime Minister Giorg ia Meloni has won pra ise as an ally. In pa r t i n response to t he Un ited States’ pol it ical upheaval, Europeans say t hey want to “ i nst it ut ional i ze” suppor t for Uk ra i ne w it hi n Nato, lessen i ng t he dependence on t he US.
European allies also fa i led to get enough weapons to Uk ra ine during t he delay in a US foreign a id package, outgoi ng Nato Sec reta r y-General Jens Stoltenberg acknowledged in a v isit to Washington last mont h T hat’s “one of t he reasons why I believe t hat we shou ld have a stronger Nato role—is t hat role in prov iding t he suppor t,” Stoltenberg told repor ters.
An initiative likely to be endorsed at t he summit is Nato tak ing more responsibility for coordinating training and mi litar y and f inancial assistance for Uk ra ine’s forces, instead of the US. Europeans also are talk ing of g iv ing Uk rainians a g reater presence w it hin Nato bod ies, t hough t here’s no consensus yet on Uk ra ine joining t he alliance.
Europeans say Nato countries are coordinating statements on Ukraine for t he summit to make clear for example, t hat add itional Russian escalation wou ld trigger substantial new sanctions and ot her penalties f rom t he West. T hat’s even if t he US, under Trump, doesn’t act. As fo r Nato sec urity ove r all, besides European allies upping defense spend i ng, t hey’re huddl i ng on defense st r ateg ies t h at don’t rely as much on t he US. T here’s also g row ing emphasis on ensuring each countr y is capable of f ield ing ar mies and f ighting wars, t he European off icial sa id. T he possibi lity of a less dependable US pa r tner u nder Tru mp i s generating d iscussions about Europeans play ing a bigger role in Nato’s nuclear deterrence, accord ing to t he Poland-based Cent re for Easter n Stud ies, a security t hink tank. T he US now plays t he deter minative role in t he nuclear weapons stationed in Europe.
B u t E ur opean co u nt ri es and Canada, w it h t heir smaller mi litar y budgets and economies, are years f rom being able to f i ll any US-sized hole in Nato.
“If an American president comes i nto off ice and says, ‘We’re done w it h t hat,’ t here is def initely w i ll in Europe to backf i ll t he American role,” sa id John Deni, a senior fellow on security at t he Atlantic Counci l. “T he Brits wou ld jump on it.”
Atty. Rodel C. Unciano
TAX LAW FOR BUSINESS
NE significant amendment introduced by the Ease of Paying Taxes (EOPT) Act is the seller’s right to deduct and claim output value-added tax (VAT) credit on uncollected receivables, subject only to compliance with certain requisites provided under the rules.
As you know, t he EOP T adopts the accrual basis of recognizing sales for bot h sales of goods and ser v ices, and t his applies not only for income tax repor ting pur poses but also for VAT compliance and repor ting purposes. T hus, in case of cred it sales, it may happen t hat t he seller w i ll pay in advance t he VAT passed on to t he buyer notw it hstand ing t hat the receivables from such credit sales rema in uncollected. In order to be elig ible for output VAT cred it, t he EOP T law and t he implement ing reg u lat ions require compliance w it h cer ta in requisites, among which are as follows: t he output VAT credit can be made only after t he lapse of t he ag reed-upon period to pay, t he sale is on cred it or on account, t here is a w ritten ag reement on t he period to pay t he receivable, t he seller has f u lly pa id t he VAT on the transaction, and the VAT component of t he uncollected receivables has not been cla imed as allowable deduction. In case of recover y of un-
collected receivables, the output VAT per ta ining t hereto shall be added to t he output VAT of t he taxpayer during t he period of recover y. In case t he seller ava i ls of t he output VAT cred it on its uncollected receivables, Revenue Memorandum C irc u la r (RMC) 65-2024 requires t hat t he seller shall stamp “Cla imed Output VAT Credit” on the duplicate/ triplicate copy/ies (seller’s copy) of t he correspond i ng i nvoice i ssued for t he u ncollected receivable. In case t here is a par tial payment on t he sa id uncollected receivable, t he amount collected t heref rom and t he balance of the uncollected receivable shall also be ind icated.
T h e co rr espond i ng i np ut tax cla imed by t he buyer shall not be allowed as input VAT cred it by t he buyer t he moment t he seller cla ims output VAT cred it on such uncollected receivable. For t his pur pose, t he seller has to prov ide t he buyer a copy of t he sa id stamped invoice so t he buyer can adjust and deduct t he
The good thing is, under RMC 65-2024, availing of the benefit of claiming output VAT credit is merely an option. This means that despite eligibility to claim output VAT credit on uncollected receivables, the seller may opt not to avail of it.
corresponding input VAT claimed accord ingly. In case t he seller fa i ls to prov ide t he buyer such documents, t he buyer can voluntari ly reverse its cla imed input VAT cred it in its VAT retur ns. If t he buyer fa i ls to deduct in its ava i lable input taxes t he correspond ing input VAT f rom the unpaid account f rom t he seller
France set for political gridlock after left-wing vote win
By Samy Adghirni, William Horobin & Ania Nussbaum
FRANCE looks headed for political instability after a surprise win by a left-wing coalition in Sunday’s legislative election offered no party a path to claim the majority needed to govern.
T he New Popu lar Front—which includes t he Socialists and far-left France Unbowed—won 178 seats in t he National Assembly, according to data compi led by t he Interior Ministr y. Marine Le Pen’s National Rally, which pollsters last week had seen w i nn i ng t he elect ion, came t hird w it h 143, whi le President Emmanuel Macron’s centrist all iance notched up 156.
Even w it h smaller par ties or ind iv idual lawmakers aligning w it h t he larger g roups, all w i ll fall far shor t of t he 289 required for an absolute majority in the 577-seat lower house.
It’s unclear t herefore how t he countr y, which doesn’t have a trad ition of coalitions, w i ll for m a gover nment t hat is able to pass laws.
French Prime Minister Gabriel Attal announced t hat he wou ld present his resignation to Macron on Monday, which would start the process for t he for mation of a new gover nment.
T he euro and French bond f utures slipped at t he star t of trad ing, as investors d igested a resu lt t hat few had anticipated and brings back to t he fore concer n about t he countr y’s f iscal problems, g iven par ties’ commitment to a major increase in public spend ing.
T he Institut Montaigne estimates t hat t he campa ign pledges by t he New Popu lar Front wou ld require nearly €179 bi llion ($194 bi llion) in extra f unds per year T he far-right Nat ional Rally’s plans wou ld cost about €71 bi llion, whi le Macron’s par ty and its allies wou ld incur extra spend ing of close to € 21 bi llion.
Friday, and t hen made stops on Sunday in must-w in Pennsylvania, t he state where he was bor n but which a Bloomberg News/Mor ning Consu lt Poll shows him tra i ling by seven percentage points.
“If it wasn’t for Biden, Tru mp wou ld be at t he W hite House and he wou ld be campa igning for his t hird ter m,” said Senator John Fetter man,
French legislative election: Second round results
LE PEN put a positive spin on t he resu lts, pointing out t hat National Rally, which had 89 spots in t he prev ious leg islature, is on course to get t he most seats of any single par ty. “T he tide is rising,” Le Pen said. “It hasn’t risen high enough t his time, but it’s sti ll rising.” T he unexpected resu lt means no single alliance has t he numbers to gover n w it h an absolute majority, f r agment i ng t he leg i slat ure i nto t hree d istinct g roups w it h d ivergent agendas. Macron w i ll wa it for t he new conf ig uration of t he National Assembly before mak ing any f ur ther decisions on naming t he next prime minister accord ing to a statement f rom an Elysee off icial.
France w i ll now face two options, which have little precedent in the histor y of t he moder n republic. Macron cou ld tr y to cobble toget her a coalition among w i lling but not always li ke-minded par ties, but t hat wou ld require t he New Popu lar Front to break apar t and reconf ig ure behind t he president w it hout its more rad ical elements.
Or Macron cou ld name a technocratic administration t hat cou ld bridge t he period of political turmoi l. Bot h solutions w i ll li kely mean a weakened gover nment t hat w i ll have trouble passing any meaningfu l leg islation and w ith less influence on t he inter national stage.
“T he absence of majority and t he absence of gove r nment w i ll expose Fr ance and Frenc h people
t he Pennsylvan i a Democ r at w ho noted he also had a d iff icu lt debate after suffering a stroke—and went on to w in his race. He expressed his strong suppor t at a Biden event w it h campa ign workers in Phi ladelphia. “I know I don’t look li ke I’m 40 years old,” Biden joked at t he Mount A ir y Church of God in Christ, a Black cong regat ion in Phi ladelphia. “All k idd ing aside, you know I’ve been doing t
to for m idable dange r,” Mac ron’s f ir st p ri me m i n i ste r , Edo u a r d Phi l ippe, wa r ned on Su nday n i g ht.
“Cent r al pol it ical forces now h ave a respons ibi l ity t hey cannot duck: T hey mu st work for an ag reement w it hout d i shonor t h at w i ll stabi l i ze t he pol it ical s it u at ion.” Jean-Luc Melenchon, t he leader of France Unbowed, told suppor ters Sunday t hat t he New Popu lar Front wou ld implement its prog ram in its entirety and t hat he wou ld ref use to enter into a deal w it h Macron. But Socialist leader Oliv ier Faure struck a more conci liator y note, say ing it’s t he par ty’s job to “f ind a pat h to respond to t he needs and demands of French people.
French assets tumbled in the days after Macron announced t he snap election four weeks ago, but bounced late last week when traders star ted to price out an absolute majority for Le Pen’s far-right par ty, and embrace t he prospect of a g ridlocked gover nment in which neit her right nor left had unchecked power
“Debt was on an unsusta inable pat h even before t he vote, and trend g rowt h is slow. Wit h t he chances of f iscal slippage and policy paralysis up, t he li kelihood of t hese serious problems being tackled is down,” said Bloomberg economists Eleonora Mav roeid i Maeva Cousin and Jamie Rush W hile a lower-than-expected seat count for Le Pen’s par ty and a bump for Macron’s bloc thus came as a relief to some traders, t he w in for t he left bloc is li kely to hur t French assets in t he weeks to come.
cer ta in races to bolster votes aga inst t he National Rally. Macron’s par ty w it hdrew 76 cand idates f rom runoff contests where t hey had little chance of w inning, in order to avoid splitting t he antiLe Pen vote. T he New Popu lar Front w it hdrew 130. National Rally President Jordan Bardella criticized t he strategy, saying t hat t he approach orchestrated by t he Elysee palace is not going anywhere.”
Antonio Barroso, deputy d irector of research at Teneo, w rote in a note t hat t he for mation of a new gover nment would be complicated and could take a long time.
“T his indecision runs a risk for the countr y t hat nobody shou ld underestimate,” Phi lippe sa id. “T he credibi lity of our countr y cou ld be hit, as well as its cred it ruined.” With assistance from Julien Ponthus, Albertina Torsoli, James Regan and Tara Patel / Bloomberg
For Vincent Juvyns, global market strateg ist at JPMorgan Asset Management, t hat cou ld pop up in t he spread between French and Ger man bond y ields, which he sees w idening. “T h e E ur opean Comm i ss i on and rat i ng agenc ies a re expect i ng € 20 bi ll ion to €30 bi ll ion euros of c uts
By Ada Pelonia
k -sc-tostri k e-down-eo-62-reducingtariffs-on-rice-farm-products / )
“[T he i mpact if a TRO is issued aga i nst EO 62] depends on [how] quickly SC w i ll ru le to stay t he EO. If quickly, t hen stat u s quo,” Briones told t he B usinessM irror v i a SMS.
“Bi gger quest ion i s legal ity. Impor ters may slow down i mpor t i ng whi le wa it i ng for ru l i ng on legal ity of t he EO,” he added. For Un iversity of Asi a and t he Pac i f ic Center for Food and Ag ribu si ness (CFA) Exec ut ive D irector Senen Reyes, “Si nce t he EO h as ba rely been i mplemented, a TRO i f g r anted w i ll put t hi ngs i n stat u s quo.”
Ag ri c u lt ur e Ass i stant Secreta r y and Spokesperson A r nel De Mesa sa id it wou ld affect t he
cou nt r y’s rice stocks and hi nder t he expected reduct ion of rice prices i n t he ma rket i f t he Cour t i ssued a TRO.
“It w i ll cau se delay i n t he i mpor tat ion by our private i mpor ters [ ] i f t here i s a delay i n i mpor tat ion, it w i ll also...i mpact on our nat ional stock i nventor y,” De Mesa told repor ters i n a press conference, speak i ng pa r tly i n Fi l ipi no. T he Depa r tment of Ag ric u lt ure (DA) expects t he cou nt r y’s yearend rice inventor y to settle at 3.64 m i ll ion met ric tons (MMT), equivalent to about 93 days of nat ional rice consu mpt ion. Data f rom the Phi lippine Statistics Authority (PSA) the countr y’s total rice stock inventor y registered a 10.3-percent increase to 2.08 MMT as of May 1. Meanw hi le, Nat i onal Econom ic and Development Aut hority (Neda) Sec r eta r y A r sen i o Bal i sacan sa id t hey a re awa re of t he dec i sion by cer ta i n fa r mers’ g roups to i n it i ate legal proceedi ngs aga i nst t he i mplementat ion of EO 62. “We a re c urrently awa it i ng t he rece ipt of t he pet it ion and w i sh to express our utmost respect for t he legal process. Please be assured t h at Neda, t hrou g h t he Off ice of t he Sol ic itor Gener al, w i ll respond appropri ately i n due course,” Bal i sacan sa id i n a statement.
T he Un ited States Depa r tment of Ag ricu lt ure (USDA) projects t he cou nt r y’s rice i mpor ts to hit 4.6 MMT t his yea r follow i ng t he reduct ion of i mpor t ta ri ffs to 15 percent u nt i l 2028.
RLC expanding its Fili brand with new hotel in Bridgetowne estate
By Ma. Stella F. Arnaldo
li Hotel at the company’s newest estate development, the 30-hectare Bridgetowne in Pasig and Quezon City. C h ad Sotelo, sen ior v ice president and b u s i ness u n i t gene r al
w i ll be connected to t he newly opened Opu s Mall along t he [Ma ri k i na] river It w i ll open i f not late next yea r [2025] or at t he most, t he f irst half of 2026,” he later told t he BusinessMirror W hi le h e decl i ned to r eveal h ow m u c h RLC w i ll be i nvesti ng i n t h e new h otel, Sotelo sa i d, “I wo u ld g u ess t h e n u mbe r of r ooms wo u ld be t h e same as o ur Ceb u F i l i h otel. It w i ll be t h e same F i l i p i no-foc u sed [ p r ope r ty] ,” b u t added h e h ad yet to see i ts f i nal des i gn. (See , “F inding m y wa y at N ustar,” in the BusinessMirror , Sept. 16 , 2022.) Si m i la r to Fi l i i n Cebu , whic h h as a v iew of t he Cebu St r a it, Fi l i Bridgetowne w i ll h ave a v iew of t he Ma ri
f r om t h e u s u al to uri st h a u nts i n Met r o Man i la, Sotelo sa i d, “We’r e ve r y conf i dent, f ir st and fo r emost, on B ri dgetowne. It’s t h e only estate t h at connects Qu ezon C i ty and P as i g. And i f yo u look at t h e closest a r ea, t h e O r t i gas CBD [cent r al b u s i ness d i st ri ct] , t h e r e a r e not a lot of new h otels as i de f r om o ur West i n Man i la.” He sa i d t he open i ng of Fi l i i n B ri dgetowne w i ll cate r p ri ma ri ly to b u s i ness t r avele r s and events, espec i ally w i t h t h e open i ng of many new condom i n iu ms and res i dences, i nclu d i ng RLC’s own development project, along t he C-5 corri dor Along sa i d corri dor w i ll also open res i dences i n Pa r kl i nks, an ur ban estate j o i ntly developed by Ayala Land Inc. and Eton Prope r t i es, w hi le p rope r t i es i n Megawo r ld Co r p.’s Eastwood C i ty i n L i b i s, Qu ezon C ity a re also be i ng eyed to s u ppor t Fi l i B ri dgetowne’s ma r ket. Sotelo sa id t hree major t horoughfa res feed t r aff ic i nto Bridgetowne —C-5, Eu log io Rod ri g uez Jr., and O r t i gas Ave. Extension —and w it h open i ng of t he Bridgetowne Bou leva rd connect i ng C-5 and Eu log io Rod ri g uez Jr Ave. t hrou g h t he Rosa rio Bou leva rd Bridge, “t raff ic h as become substant i al and flows t here [to t he estate] “t h at plus t he locators i n t he a rea makes [Bridgetowne] a pretty good locat ion,” he st ressed.
RHR rev up 54% in 1Q 2024
ASKED about any new pa r tnerships w it h i nte r nat ional hotel c h a i ns, Sotelo sa id, “We’re always look i ng for sensible st r ateg ic joi nt vent ure pa r tners [ but] I t hi nk t he team i s foc u sed on t he s hor t-te r m, and
Manufacturing’s declining share in GDP alarms Neda
By Cai U. Ordinario @caiordinario
THE share of the country’s manufacturing sector to GDP has been declining for the past 22 years and is the greatest threat to the prospects of reducing poverty nationwide, according to the National Economic and Development Authority (Neda).
In a forum hosted by the Economic Jour nalist’s Association of the Phi lippines and San Mig uel Cor poration on Monday, Soc ioeconom ic Planning Secretar y A rsenio M. Balisacan cited a need to boost manufacturing g rowth to increase productiv ity and incomes nationw ide.
In a presentat ion, Bal i sacan sa id t he sh a re of manu fact uri ng to GDP was at 20.2 percent i n t he 2001 to 200 3 period, but it decl i ned to 16.2 percent i n t he 2011 to 2013 period and 15. 3 percent in t he 2021 to 2023 period.
“Given t he cou nt r y’s low level of development, t he steady decl i ne of manu fact uri ng sh a re i n GDP si gn i f icantly l i m its our oppor t u n it ies for pover ty reduct ion,” Bal i sacan sa id i n a speec h at t he foru m. “In t he recent econom ic hi stor y of nat ions, espec i ally i n Asi a, manu fact uri ng g rowt h was a pri ma r y d river
of pover ty reduct ion.”
On t he sidel i nes of t he foru m, Bal i sacan expla i ned t h at t he manufact uri ng sector i s assoc i ated w it h hig h- qu al ity jobs,
OF
With
By Lorenz S. Marasigan @lorenzmarasigan
Editor: Jennifer A. Ng
Aboitiz: New China feedmill will broaden customer base
By VG Cabuag @villygc
GOLD Coin China, a subsidiary of Aboitiz Equity Ventures Inc.’s (AEV) Pilmico and Gold Coin Group, on Monday said it has increased its animal feed production capacity after completing its new feedmill in Yunan, China.
“T he launch of t his new faci lity in Yu x i, Yunnan Prov ince, is a testament to our commitment to expand our presence in key markets t hrough investments in more eff icient faci lities across t he reg ion,” sa id Tristan Aboitiz, Pilmico and Gold Coin Group president and CEO.
and premi x and reach an even broader customer base.
“For t hi s feedm i ll spec i f ically, we worked w it h key stake holde r s to embed some of t he latest tec hnology and automat ion e quipment to en h ance our processes and opt im i ze feedm i ll eff ic iency. T hi s m i ll i s t he second of its k i nd i n our C hina-based ope r at ion. It w i ll ens ure
BBy Lorenz S. Marasigan @lorenzmarasigan
UDGET
t h at our c u stome r s a re prov ided w it h t he hig hest qu al ity feed ac ross mu lt iple categories.” T he Yunnan feedmi ll for ms par t of t he Aboit i z Group’s food and ag ribusiness subsid iar y’s “strateg ic moves” to strengt hen its feedmi ll capacity in Asia Pacif ic, alongside t he upcoming 200,000-MT feedmi ll in Long An, Vietnam. AEV h ad sa i d i ts food b u s iness u nde r Pi lm ico and Gold Coi n Group w i ll get P4 bi ll ion as capital expend it ure t hi s yea r, to be u sed mostly for its ag ribu s i ness expans ion projects.
DoubleDragon ends bond offer period
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J u ly 5, ea r l i e r t h an o ri g i nal
of J u ly 10.
Cap ital Co r p., Un i cap ital Inc. and t h e Development Bank of t h e Phi l i pp i nes we r e t h e deal’s j o i nt lead u nde r w ri te r s, j o i nt i s-
T h e t hr ee- and t h e fo ur -yea r pape r s we r e bot h t r ad i ng at 6.2 pe r cent at t h e seconda r y ma r ket.
T h e bond set fo r l i st i ng on t h e Phi l i pp i ne Deal i ng and Exc h ange
fo r ove r f i ve yea r s and DD i s ext r emely g r atef u l to t h e u nwave ri ng s u ppo r t of t h e i nvest i ng p u bl i c on i ts r et ur n to t h e r eta i l bond ma r ket. “As DD cont i n u es to expand i n t h e Phi l i pp i nes and i n va rio u s co u nt ri es ove r seas, t h e sol i d s u ppo r t of t h e i nvest i ng p u bl i c demonst r ated i n t hi s r eta i l bond offe ri ng means a lot as we ac hi eve d r eams toget h e r.” T h e company h as p ri ced i ts 3 .5-yea r P 10-b i ll i on bonds at 8.008 pe r cent, w hi c h p r ov i des a p r em iu m ve r s u s t h e seconda r y ma r ket t r ad i ng r ates.
Co r p. on J u ly 16. “We a r e glad to tap t h e peso r eta i l bond ma r ket aga i n afte r ove r f i ve yea r s. We bel i eve t h at t h e p ri c i ng of t hi s r eta i l bond offe ri ng at 8.008 pe rcent w i ll enable a w i de r ange of people to ava i l of t h e good co u pon r ate fo r a Tri ple A r ated r eta i l bond and g i ven t h e m i n i m u m i nvestment s i ze of only P 50,000.
On top of that, 8 is also believed by many to be an auspicious or ‘swer te’ number and hav ing two 8’s in the coupon rate cou ld be even more auspicious,” Edgar Sia, t h e company’s cha ir man sa id. VG Cabuag
Banking&Finance
MIF managers to proceed with investment plans
By By Reine Juvierre Alberto
DESPITE the appeal to the Supreme Court (SC) to declare the Maharlika Investment Fund (MIF) law unconstitutional, managers of the sovereign wealth fund remain unfazed, vowing to continue with investment plans for the year.
Consing
sets, it will use the proceeds from the issuance to support its lending activities and expand its funding base. SECB EV P and Financial Markets Segment Head A r nold Q Bengco was quoted in t he lender’s statement submitted to the Phi lippine Stock Exchange as say ing t he peso bond offering “w i ll suppor t our strateg ic initiatives and d iversify our f und ing sources.”
“We’re conf ident t his offering w i ll del iver value to our cl ients look ing to invest in a high-quality i nst ru ment w it h att r act i ve re-
tur ns,” Bengco added. T he public offer period w i ll run from July 8 to Aug ust 13 2024. T he m i n i mu m denom i nat ions h ave been set for P100,000 and increments of P10,000 t hereafter SECB w i ll list t he bonds on t he Phi lippine Dealing and Exchange Cor p. on Aug ust 20, 2024, to prov ide secondar y market liquid ity to investors who wou ld li ke to trade t he instruments.
T he instruments w i ll be issued out of t he bank’s P200-bi llion peso bond and commercial papers prog ram, accord ing to t he lender SECB has mandated t he Phi lippi ne Commerc i al Capital Inc. (PCCI) and SB Capital Investment Cor p. as joint book runners, joint lead arrangers and selling agents for t his issuance.
SECB is a private domestic universal bank in t he Phi lippines w it h total assets of P887 bi llion as of March 31, 2024.
T he bank has been operating for 73 years since it was established in 1951. To date, SECB has a total of 327 branches and 660 ATMs, Cash Recycler Mac hi nes (CRMs) and Cash Acceptance Machines (CAMs).
T he lender d isclosed to t he PSE t hat it posted net prof it of P2.6 bi llion in t he f irst quar ter, “reflecting g rowt h in its reta i l and MSME businesses.”
On a yea r -on-yea r basis, net prof it g rew 11 percent. Total revenues increased 27 percent to P12.5 billion. Net interest income rose 44 percent over t he year to P10.7 bi llion. Total non-interest income was at P1.8 billion. Ser v ice charges, fees and commissions increased 136 percent year-on-year to P3.1 bi llion, boosted by the bancassurance mi lestone fee. Exclud ing extraord inar y items on bot h revenue and expense, which offset each ot her nor malized net income wou ld be largely unchanged. Cai U. Ordinario
teg ic investment for
he benef it of t he nation.
“We acknowledge t he ongoi ng d iscussions surround ing t he MIC. We respect t he jud icial process and believe in transparency and accountabi lity,” t he executive added.
Consing emphasized t hat a “wellmanaged” sovereign wealth fund can contribute to sustainable growth and benef it t he Fi lipinos as a company invested in t he Phi lippines.
Finance Secretar y Ralph G. Recto, who also cha irs t he MIC, told repor ters on t he sidelines of t he EJA P-SMC Economic Forum last Monday, t hat t he MIC is not unconstitutional.
“Once we star t investing t hose resources and we’re able to get a signif icant retur n, t hen in t he f uture,
THE Bureau of the Treasur y (BTr) borrowed P20 billion from the domestic debt market through the sale of Treasur y bills (T-bills) on Monday’s auction.
T he state successf u lly reached its P20-bi llion borrow ing prog ram f rom t he tender of 91-day, 182-day T-bi lls and 364-day gover nment securities despite t he week-on-week increase in investors’ ask ing y ields.
T he Treasur y made a f u ll award of the bids for the shor t-ter m debt papers as all average rates for t he t hree tenor gover nment securities settled below the prevailing secondar y market rates.
Average y ields for 91-day T-bi lls increased to 5.698 percent f rom 5.686 percent in t he prev ious auction. Bids ranged f rom 5.650 percent to 5.724 percent for t he 91-day T-bi lls.
Meanwhi le, investors’ average asking y ield for t he 182-day T-bi lls also inched up to 5.968 percent compared to last week’s auction at 5.959 percent. T he gover nment security rates
Celebrating pride with inclusive financial education
nances w it hout sac ri f ic i ng your well-be i ng. Tip #2: Build an Emergency Fund–Your financial safety net. Life t hrows c ur veballs. Maybe your ca r breaks down or you face unexpected med ical bi lls.
wor t h of l iv ing expenses. Imag ine you re a lesbian couple want ing to sta r t a fami ly. Adopt ion can be an expensive process. Bui lding an emergency f und allows you to plan for t hese mi lestones and unforeseen costs w it hout jeopa rd i zing your f inancial stabi l ity. Tip #3: Slay the Debt Dragon–Conquer high-interest debt. Debt can be a major roadblock to f inancial f reedom. High-interest debt, l i
T he key is to f ind a strategy t hat works for you and st ick to it. Imag ine you ’ re a gay man who’s just moved into your own apartment. Fur nishing a new place can be excit ing, but it’s
settled between 5.920 percent and 5.995 percent.
Investors’ average rate for t he 364day T-bi lls went up to 6.073 percent w it h a y ield range f rom a low of 6.030 percent to a high of 6.095 percent. Tbi lls’ y ields averaged 6.050 percent i n t he Treasur y’s prev iou s auct ion on Ju ly 1.
Total tenders reached P43.815 bi llion w it h t he auction 2.2 times oversubscribed. T he amount tendered per tenor was P14.810 bi llion for t he 91day, P15.560 bi llion for t he 182-day and P13.445 bi llion for t he 364-day T-bi lls.
“Wit h its decision, t he Committee ra ised t he f u ll prog ram of P20.0 bi llion for the auction,” the Treasur y said. Accord i ng to R i zal Comme rc i al Bank ing Cor p. (RCBC) Chief Economist Michael L. R icafor t, whi le t he T-b i lls ave r age au ct ion y i elds a r e sl ightly higher week-on-week, t hey we re sl i g htly lowe r t h an t he PH P BVAL y ields.
ifference.
QIA+
you
t, t he more t ime your money has to g row. Let’s imag ine you ’ re a non-binar y teenager who’s just sta r ted a pa r tt ime job. Even a small amount invested consistently can make a big d ifference over t ime. T his cou ld help you ac hieve your long-ter m goals, l i ke pay ing for college or sta r t ing your own business.
Tip #5: Find your financial tribe–The power of community. Financial literacy isn’t
suppor t can make a world of
roup.
inancial experiences w
h people who understand your
c hallenges can be incred ibly empowering. Remembe r bui ld i ng f i nanc i al wellness takes t i me and effo r t. Don’t get d iscouraged if you don’t see resu lts over n ig ht. Be pat ient w ith yourself, celebrate your w ins (no matter how small) and keep mov ing for ward. T here w ill be setbacks along t he way, but w it h t hese t ips and t he power of your community behind you you can bui ld a bright f inancial f ut ure t hat allows you to l ive your trut h and c hase your d reams w it h conf idence.
T his Pride Mont h, let’s celebrate not just t he d iversity of t he LGBTQIA+ community, but also the strength and resi l ience it embod ies. Financial wellness shou ldn’t be a priv i lege reser ved for a select few. Let’s create a world where f inancial l iteracy is accessible to ever yone, rega rdless of who t hey love or how t hey ident ify. Together, we can build a f uture where f inancial security empowers ever y member of our v ibrant community to t hrive and shine brightly!
Janice Sabitsana is registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 108th RFP program this July 2024. To inquire, e-mail info@rfp.ph or text at 0917-9689774. For more personal finance tips, visit her blog at www.thepinayinvestor.com.
Art BusinessMirror
Cambodia welcomes the Met’s repatriation of centuries-old statues looted during past turmoil
The Associated Press
PHNOM PENH, Cambodia—The return to Cambodia this week of 14 sculptures that had been looted from the country during a period of war and unrest is like welcoming home the souls of ancestors, Cambodia’s culture minister said on Thursday.
The items repatriated from New York’s Metropolitan Museum of Art arrived on Wednesday and were displayed to journalists and VIPs on Thursday at the National Museum in the Cambodian capital Phnom Penh.
They “were made between the 9th and 14th centuries in the Angkorian period and re lect the Hindu and Buddhist religious systems prevailing at that time,” the museum said in a statement this week.
A statement from Cambodia’s Ministry of Culture and Fine Arts said the “historic homecoming of national treasures” followed several years of negotiations between Cambodia’s art restitution team, US federal prosecutors in New York, investigators from the US Department of Homeland Security and the Metropolitan Museum.
Cambodian Culture Minister Phoeurng Sackona said the return of the artifacts was very important for the Cambodian people for recalling the heritage of their ancestors through good times and bad.
“The pieces were staying a long, long time abroad, but today they returned to Cambodia, like a blessing for our people for peace, stability in our country now,” she said. To Cambodians, the returned artworks carry with them the souls of their ancestors, she said. Bringing back the souls of ancestors also includes bringing history, admiration and knowledge, Phoeurng Sackona said.
She said without elaborating that Cambodia hopes to receive very soon another 50 artifacts from the US. Cambodia claims that other items illegally tra icked from the country are still at the Metropolitan, as well as at other museums and in the hands of private collectors.
“These returns contribute to the reconciliation and healing of the Cambodian people, who endured decades of civil war and su fered tremendously from the tragedy of the Khmer Rouge regime,” Phoeurng Sackona said. “They also demonstrate the truly positive partnership we have developed with the United States.”
For the art world, their return is the fruit of a reckoning in recent years over art and archaeological treasures taken from their homelands. These include not only ancient Asian artworks, but also pieces lost or stolen in turmoil in other places, such as Syria, Iraq and Nazi-occupied Europe.
The pieces returned to Cambodia from the Met were looted during a long period of civil war and instability in Cambodia, which was ruled by the brutal communist Khmer Rouge regime in the 1970s.
They were bought and tra icked by well-known art dealer Douglas Latchford, who was indicted in 2019 for allegedly orchestrating a multiyear scheme to sell looted Cambodian antiquities on the international art market. Latchford, who died the following year, had denied any involvement in smuggling.
Cambodia’s Culture Ministry highlighted two works among those returned that are expected to be restored by reuniting them with other parts already in their possession
The repatriation includes the “extraordinary” stone sculpture from the 10th century of the female goddess Uma from the ancient royal capital of Koh Ker, it said, adding that the sculpture’s foot had already been retrieved from its original site.
“At last, the Uma can be reuni ied to achieve its full magni icence as one complete statue.” it said.
“Moreover, a signi icant returned artifact is a 10th century bronze head of the deity Avalokiteshvara, which the Ministry highly anticipates inally being reunited with its matching torso, currently on display at the National Museum of Cambodia,” it said.
AYALA MUSEUM, BSP ‘REUNITE’ INCREDIBLE PRECOLONIAL GOLD TREASURES FROM SURIGAO
PRICELESS and historically important artifacts from the country’s two preeminent precolonial gold collections are on view and run until 2027.
Titled Reuniting the Surigao Treasure, this new exhibition adds a select 38 goldworks loaned from the Bangko Sentral ng Pilipinas (BSP) to around 1,000 gold items on permanent display at the Ayala Museum. This joint exhibit demonstrates the rich artistic traditions, complex social hierarchies, and sophisticated economic practices of precolonial Philippines.
Curated by former Ayala Museum director Dr. Florina Capistrano-Baker, this showcase brings to the Philippines a larger precolonial gold exhibit than another display, the successful joint exhibit in 2015 at the Asia Society Museum in New York City co-curated
by Dr. Capistrano-Baker and Dr. Adriana Proser.
“For the irst time ever in the Philippines, these once-dispersed gold objects have inally come together in the exhibition Reuniting the Surigao Treasure here at the Ayala Museum. Because of the collective e fort between us and the Bangko Sentral ng Pilipinas, Filipinos young and old alike can visit, revisit and marvel at these breathtaking objects, inspiring and reminding us of our country’s glorious precolonial past and what it says about us as a people,” said Mariles Gustilo, senior director of Ayala Museum, in her remarks during the launch of the exhibition. The new Reuniting exhibition run until 2027.
More information on the lecture or the free admission day is available at www.ayalamuseum.org/ events.
By Eugenia Last
CANCER
LEO (July 23-Aug. 22): Think big but start small. Putting a long-term plan in place will give you the wiggle room to reach your target while maintaining your budget. Give yourself a break to regenerate and grow. Let your intuition take over.
VIRGO (Aug. 23-Sept. 22): Consider your next move. Spontaneity will meet with opposition; review information, do more research and regroup. Emotions will surface if you engage in a heated conversation with someone who doesn’t share your beliefs.
LIBRA (Sept. 23-Oct. 22): Pay attention and put your energy into something mentally and emotionally enriching. Refuse to let physical or professional setbacks drag you down. Turn things around with a positive attitude and a desire to learn something new, and proceed in a direction that excites you.
SCORPIO (Oct. 23-Nov. 21): Proceed with caution. You may crave change, but consider the cost before participating in a venture. Financial or legal partnerships require more thought, patience and intuition to avoid loss or disappointment.
SAGITTARIUS (Nov. 22-Dec. 21): Keep an open mind, closed wallet and tabs on what’s possible. Use intelligence to sort through matters, and do your best to approach each situation with a positive attitude. Arguing will set you back. Protect your reputation and cash by keeping your thoughts and intentions to yourself.
CAPRICORN (Dec. 22-Jan. 19): Change what’s necessary. Additional expenses will lead to emotional stress and uncertainty. Pay attention to where your money goes and to worthwhile investments. A partnership can save you time and money and stabilize your life if you compromise.
AQUARIUS (Jan. 20-Feb. 18): Share your feelings and intentions. Don’t let anger set in when patience is necessary to resolve issues between you and what you want to pursue. Adjust your surroundings to accommodate your plans, and you’ll find the road to happiness you seek.
PISCES (Feb. 19-March 20): Consider what’s necessary and let go of what isn’t. Balance, integrity and fair play will help you avoid the pitfalls of overindulgence
ADAM SIMPSON
FROM left: Ayala Museum senior director Mariles Gustilo, Ayala Foundation chairman Fernando Zobel de Ayala, BSP governor Eli Remolona Jr., Ayala Foundation president Tony Lambino, and exhibition curator Dr. Florina Capistrano-Baker at the opening reception of the exhibition.
Show BusinessMirror
Bea Alonzo takes it a day at a time
WITH everything that has happened in her colorful past, A-list actress Bea Alonzo continuously a irms that she is ready for all of life’s beautiful surprises.
“I just take things a day at a time,” she told us, adding, “It’s true that not all days are smooth and happy, but life has made me more resilient and experience has taught me to be in control of many things—my emotions, my decisions, my moves. As we work on our maturity, we learn to take responsibility for our actions, and I guess the secret to happiness, aside from acceptance, is to be realistic with our goals and expectations, and at the same time embrace whatever life gives us wholeheartedly. And be thankful for all the blessings that come our way.”
Alonzo is happy that she has been entrusted another wonderful acting role in the newest drama series of GMA Network, Widow’s War. “I am grateful that since I moved to GMA, the network has always given me wonderful projects and amazing people to work with, too.”
Pitting talents with Alonzo in this drama series are the likes of Jackie Lou Blanco, Rita Daniela, Jeric Gonzales, Juancho Trivi o, Lito Pimentel, Jean Garcia, Tonton Gutierrez and Carla Abellana.
Like Alonzo, Abellana has also experienced rough
BTS MEMBER JIN EXPECTED TO TAKE PART IN PARIS OLYMPICS AS A TORCHBEARER FROM SOUTH KOREA
LOS ANGELES—Jin, the oldest member of K-pop supergroup BTS, will be an Olympic torchbearer at the Paris games after recently completing his mandatory military service.
The 31-year-old singer is expected to represent South Korea in the torch relay in hopes of spreading the message of “harmony” and “peace,” according to a statement. He finished his 18-month military service last month. Jin along with the other torchbearers are scheduled to go across various historic sites of the host country. The specific schedule has not been disclosed.
The torch relay began in April.
Jin began his military service at a front-line South Korean military boot camp in late 2022. His other group members— comprised of Jung Kook, V, Jimin, Suga, RM, and J-Hope— are currently serving their military duties.
A day after being released from military duty, Jin hosted the annual BTS debut anniversary celebration FESTA in Seoul with activities including trying out foods, performances and dance challenges. AP
sailing in her personal life in recent years, and she has publicly announced recently that she and her former husband Tom Rodriguez were o icially divorced in the US, and their divorce has already been recognized by the Philippine court.
Alonzo remains single a ter the controversial termination of her engagement to former actor Dominic Roque, and many observe that she and Abellana are on a parallel path at this time.
Experts reckon that healing from a failed relationship takes time, and people heal in manners and ways that are di ferent from each other. A psychiatrist friend of ours from Los Angeles explained that celebrities tend to need to have a longer period of working out their emotions and picking up the broken pieces since their lives are always magni ied and their every move is watched and followed.
But we believe that Alonzo has been amazing in how she is handling her heartbreak. She doesn’t give out statements more than she should. She knows when to retreat from the o ten noisy showbiz jungle, and go to her quiet and safe sanctuaries. She accepts people for who they are and places them where they belong. And more importantly, she has learned to never run back to what broke her.
Alonzo can be classi ied as a rarity among our local actors, because she continues to rise above any challenge that is thrown at her, and she knows where to draw the line between what is personal from what is professional. And when she needs to work, she doesn’t bring any unnecessary emotional baggage with her, because she just gets to the working set always prepared, and delivers brilliantly as an actor as is expected of her.
Like many, we are quietly cheering for Bea Alonzo, and we know that all the love that she has given away will ind its way back to her, and will one day inally stay.
GMA Network launches ‘Isa sa Puso ng Pilipino’ station ID
GMA Network proudly proclaims its unwavering dedication to Filipinos worldwide with the launch of its new station ID, “Isa sa Puso ng Pilipino.”
Unveiled in anticipation of the network’s 75th anniversary next year, the station ID is not merely a lyrical celebration of GMA Network’s legacy in the broadcast media industry but it also delivers a powerful message that serves as a promise and a call to always stand united with Filipinos.
Bannered by some of the network’s biggest stars and personalities, “Isa sa Puso ng Pilipino” is a testament to GMA’s commitment to Filipinos. Throughout their various journeys, the network stands with them not just as a witness but as one in heart, epitomizing the essence of being “Isa sa Puso ng Pilipino.”
At its core, being “one in heart” celebrates the collective experiences and intrinsic values that shape our identity as a people. Promoting the ideals, traditions and aspirations that unite us, the station ID encourages everyone to “take to heart”
these values as it subtly incorporates the phrase “isasapuso.”
Over the decades, GMA Network has grown into the biggest and most trusted media institution that continues to inspire, stands up for, and empowers Filipinos. Devoted to enriching lives, GMA has consistently created relatable and inspiring characters and heroic figures that resonate with Filipinos. Its commitment to the truth and balanced reporting remains steadfast, championing individuals and communities, and fostering a culture of integrity, resilience, and hope. Alongside Filipinos everywhere, GMA will continue to be a beacon of trust and inspiration for future generations.
“Isa sa Puso ng Pilipino” was performed by Julie Anne San Jose and other GMA singers. GMA’s station ID was accompanied by the Orchestra of the Filipino Youth (OFY), a full orchestra under the organization Ang Misyon Inc., dedicated to offering free music education
and support to talented, underprivileged Filipino youth. Under the baton of Gerard Salonga and the guidance of professional mentors, the OFY curriculum is specifically curated for a high-quality youth orchestra. The lyrics were penned by Brian James Camaya, Christine Autor, Samantha
and Rina L. Mercado, with
weren’t particularly good for the latest installment, which includes a witness protection plot and a group
of Minions transformed into a superhero squadron. But in their 12-year run, little has slowed down the Minions.
“This is one of the most beloved franchises, quite frankly, in the history of ilm, and certainly animation,” said Jim Orr, distribution chief for Universal. “Chris Meledandri and Illumination have their inger on the pulse of what families and audiences around the world want to see.”
Family movies are powering the box o ice. Despicable Me 4 performed strongly despite the still considerable drawing power of Inside Out 2. In its fourth weekend of release, the Pixar sequel added another $30 million domestically and $78.3 million overseas.
The continued strong sales for Inside Out 2 were enough to put the ilm in second place for the domestic weekend. Last week’s top new ilm, A Quiet Place: Day One, slid to third with $21 million in its second weekend, with another $21.1 million from overseas theaters. That was a steep decrease of 60 percent, though the Paramount prequel has amassed $178.2 million worldwide in two weeks. The weekend’s other top new release was Ti West’s MaXXXine, the third in a string of slasher ilms from A24 starring Mia Goth. In 2,450 locations, MaXXXine collected $6.7 million in ticket sales, a
Toloza
composition by Rina L. Mercado and arrangement by Roxy E. Fabian and Joe L. Cruz. The jingle was produced by Rocky S. Gacho. GMA Network’s new station ID “Isa sa Puso Ng Pilipino” can also be viewed on its official YouTube channel and Facebook page, or visit www.gmanetwork.com.
GMA’s new station ID “Isa sa Puso ng Pilipino” was performed by Julie Anne San Jose and other GMA singers. It was accompanied by the Orchestra of the Filipino Youth (OFY), a full orchestra under the organization Ang Misyon Inc.
‘BETWEEN THE LINES’ WINS BEST SHORT DOC IN PARIS AND SCREENS AT FESTIVAL DE CANNES 2024
foodpanda releases social advocacy report, highlights impact on sustainability
ONLINE food and grocery delivery platform foodpanda has unveiled its latest corporate social advocacy (CSA) report, pandapurpose, which outlines the social and economic contributions of its various programs and initiatives.
“The company has implemented numerous measures to minimize food wastage and address hunger, partnering with various vendors and organizations to maximize its impact,” a foodpanda representative stated.
“This detailed report shows how committed we are to sustainability, cutting food waste, and fighting hunger. Releasing it during our 10th anniversary celebration highlights how important these efforts are for the environment and society.”
A notable collaboration is with Scholars of Sustenance Philippines (SOS PH), a reliable partner that rescues food items for donation to communities in need. This initiative also includes rescuing items from pandamart for distribution.
foodpanda’s commitment extends further with its partnership with the World Food Programme through the ShareTheMeal initiative. This program allows app users to donate meals to local beneficiaries directly through the app, facilitating community support and engagement.
Since 2023, these combined efforts have resulted in the donation of over 16,000 meals, addressing hunger and malnutrition across the nation.
“These initiatives ensure that surplus food reaches those in greatest need, helping to combat hunger and ensure no food goes to waste.”
Beyond combating hunger, foodpanda’s diverse range of services, including food delivery, grocery delivery, and pick-up, help consumers effortlessly manage their daily needs, but the platform is also giving app users a chance to practice eco-friendly choices.
With their opt-out cutlery feature in the app, foodpanda reported that more than 24 million orders in 2023 alone opted to skip single-use cutlery. This move highlights the company’s commitment to reducing plastic waste and promoting eco-friendly practices among its users.
“We’re ramping up our support for initiatives that promote a balanced, thriving, and sustainable ecosystem for our people, partners, and communities,” said the company’s representative, emphasizing the company’s holistic approach to sustainability.
“Through pandapurpose, we continue to demonstrate our dedication to creating a positive social and economic impact.” As the company moves forward, it remains steadfast in its mission to support sustainability, reduce food wastage, and combat hunger, benefiting communities nationwide.
THE short documentary “Between The Lines,” directed by Elvin Jay Macanlalay, has garnered acclaim by winning the prestigious Best MegaCity-ShortDocs Award at the MegaCities-ShortDocs Festival held in Paris on May 23, 2024.
Following this achievement, the film was screened during the 9th Semaine du Cinéma Positif Week at the Festival de Cannes 2024 which took place last May 22 to 25, 2024.
“Between The Lines” delves into the transformative impact of a community library initiative in Bagong Silang, Caloocan. In a digital era dominated by social media and individualism, the documentary highlights the crucial role of community libraries in empowering children to engage with societal issues through relatable stories. It aims to foster empathy and critical thinking among young community members, bridging personal experiences with broader social contexts.
The featured community library gained significant recognition last year, appearing on major TV stations such as CNN, TV5 Frontline Tonight, ABS-CBN’s Bayan Mo Ipatrol Mo, Tao Po A2Z, Net25 Responde Mata Ng Mamamayan, and One PH Balita. It was also prominently covered by online news outlets including Philippines Star and Manila Bulletin, as well as on Teleradyo 630.
Macanlalay, a distinguished Q ueer Artist, brings a wealth of artistic expertise to “Between The Lines,” having showcased his works at esteemed venues such as Pineapple Lab, Gravity Art Space, Ayala Museum, and NCCA Gallery. He is recognized for his previous achievements, including the Ani ng Dangal Award for Cinema from the National Commission for Culture and the Arts for his short documentary “Di niyo ba naririnig ? ” For Elvin, “Between The Lines” signifies a paradigm shift. It is important to see the library as a form of resistance because activism carries a detrimental and divisive stigmas in the Philippines. From this perspective, the filmmaker hopes to present dissent as more effective when done collectively, without the need for harm or danger to those participating and who want to get involved and take action.
This does not only show a local initiative but also stands as a testament to collective resilience amidst educational challenges in the Philippines. The documentary demonstrated how nurturing the initiative can in still a love for reading among children, given the appropriate space. It highlights that the challenge lies not in children’s reluctance to read, but rather in the lack of opportunity or capacity. Establishing such a space will also lay the groundwork for fostering empathy among them.Its impact has inspired replication of similar projects in cities including Cebu, Iloilo, Taytay, and Bacolod, emphasizing the documentary’s advocacy for empathy and community engagement.
The community library aims to render itself obsolete, challenging the incompetence of those who are benefiting from the deliberate prevention of literacy in the country’s educational system. Ultimately, we demand accountability from those responsible for the library’s existence—read between the lines.
MegaCities-ShortDocs is a Citizen short documentary-films Festival highlighting initiatives and /or sharing unacceptable situations seeking to bring effective solutions to Megacities’ challenges in order to improve the life of citizens.
Semaine du Cinéma Positif Week is an annual event during the Cannes International Film Festival. It aims to engage audiences, provoke reactions, and encourage collective action for a better world.
Semaine du Cinéma Positif Week provides a platform for impactful cinema and encourages filmmakers to create works that inspire societal improvement.
After his successful premiere in Europe, Elvin is preparing for his first producing stint for his documentary editor ; an Experimental Narrative short film directed by Anjella Cruz set to start shooting in the 4th quarter of the year.
HEDCOR, an Aboitiz Power Corporation renewable energy asset manager, launched a sewing skills training program for the indigenous and tribal communities of Barangay Guihean, Impasugong, Bukidnon, along with Aboitiz Foundation Inc.
The members of the Guihean IP Women’s Association received education and training in sewing technology, machine setup, measurements, pattern drafting, and the sewing process, exposing them to hands-on experience in producing rags, draft patterns, and curtains. The remote area has very limited access to such opportunities.
Hedcor and Aboitiz Foundation also donated two sewing machines, sewing kits, cloth, and other materials, which are now housed in their tribal
LEADING global travel service provider, Trip.
com Group has recognized Holiday Inn Express Manila Newport City among the Top Engaged Hotels across over 50 countries and regions during its Envision 2024 Global Partner Conference held in Shanghai China this year. This achievement places the hotel among the top performers globally.
Online travel agency operator, TripAdvisor has recognized Hotel Okura Manila as Tripadvisor Travelers’ Choice for 2024, giving merit to the best of the best destinations, hotels, restaurants, and things to do around the world based on customer feedback over 12 months.
According to the Travel + Leisure Luxury Awards Asia Pacific 2024, the Vega Pool–the picturesque oasis between Hilton Manila and Sheraton Manila Hotel—is one of the best hotel pools in the country, and Hilton
hall and community production area.
“We will practice regularly to learn more. This is a huge help because we can sew more items, which will increase our income,” said program participant Elisa Anlicao. With upskilled women and new equipment, the Guihean IP Women’s Association plan to further expand their capabilities to sewing school uniforms and traditional indigenous people attires.
“We support sustainable livelihood projects that empower our host communities. By equipping these women with valuable sewing skills and the necessary tools, we hope to inspire future generations to pursue a dignified and proud livelihood,” said Hedcor President and COO Rolando Pacquiao.
Okada Manila Unveils New Campaign: “Beyond Flavors, A Feast
OKADA Manila is thrilled to announce the launch of its new food and beverage campaign, “Beyond Flavors, A Feast for the Soul,” aimed at redefining the dining experience for guests from around the world. With over 40 dining options that span a wide array of global cuisines, Okada Manila continues to set the standard for culinary excellence in the heart of Entertainment City.
The campaign emphasizes the emotional and transformative power of food, highlighting how dining at Okada Manila offers more than just culinary delights. It promises an experience that satisfies deeper emotional and spiritual needs, akin to a feast for the soul. Each restaurant at Okada Manila, from the Italian-authentic La Piazza to the intimate Ginza Nagaoka, is designed to offer a unique and enriching culinary adventure.
“Our goal with this campaign is to convey the essence of what makes dining at Okada Manila so special,” said Andreas Balla, Vice President for Food and Beverage at Okada Manila. “It’s about creating moments that resonate, memories that linger, and connections that last long after the meal is over. We believe in the unique ability of our venues to elevate dining to an emotionally fulfilling experience.”
Guests can expect to be transported into a world where refined ambiance meets exceptional service, and each meal is crafted with passion and the finest ingredients. The variety of dining experiences includes La Piazza, where guests can enjoy “la dolce vita” with fine Italian cuisine and an extensive collection of
WOMEN from the Guihean IP Women’s Association in Bukidnon proudly showcase their sewing
Vladimir Putin warns NATO: Military support for Ukraine risks nuclear conflict with Russia
By The Associated Press
THE message to NATO from
President Vladimir Putin was simple and stark: Don’t go too far in providing military support for Ukraine, or you’ll risk a conflict with Russia that could quickly turn nuclear.
As the war in Ukraine turns slowly in Moscow’s favor, Putin declared he doesn’t need nuclear weapons to achieve his goals. But he also says it’s wrong for the West to assume that Russia will never use them.
“It mustn’t be treated in a light, superficial way,” Putin said in June, reaffirming that Russia’s nuclear doctrine calls for using atomic weapons if it perceives a threat to its sovereignty and territorial integrity.
Moscow’s nuclear messaging— coming as NATO allies move to shore up exhausted and outgunned Ukrainian forces—heralds what could become the most dangerous phase in the war.
Drills, threats and signals
MOSCOW has carried out drills with its tactical—or battlefield— nuclear weapons in southern Russia and with ally Belarus, where some were deployed in 2023. Russian Defense Ministry videos showed Iskander missile launchers, nuclear-capable warplanes and sea-launched missiles.
The Kremlin described the exercises as a response to the West pondering the deployment of NATO troops to Ukraine and allowing Kyiv to use longer-range weapons for limited strikes on
Russian territory.
“Reliance on nuclear threats and signals is an enduring trend in Russia’s activities amid the war in Ukraine,” said Heather Williams, senior fellow at the Washingtonbased Center for Strategic and International Studies. “Russian leadership may be assuming it has more at stake in Ukraine than NATO, and nuclear threats are one means of signaling its commitment to winning the war in the hopes of scaring off Western intervention.”
Ever since launching the Feb. 24, 2022 invasion, Putin has repeatedly referred to Russia’s nuclear might to discourage Western intervention. The United States and NATO criticized the nuclear saber rattling but said they haven’t seen any changes in Russia’s nuclear posture warranting a response.
After early setbacks in Ukraine, Putin said Moscow was prepared to use “all means” to protect Russian territory, fueling fears he could turn to tactical nuclear weapons to halt Kyiv’s advances. Putin later toned down his rhetoric after Ukraine’s 2023 counteroffensive didn’t achieve its goals.
Amid Russia’s recent military successes, Putin said Moscow doesn’t need nuclear weapons to win in Ukraine. Simultaneously,
however, he warned that Kyiv’s strikes on Russian soil with Western-supplied longer-range weapons would mark a major escalation because they would involve Western intelligence and military personnel—something the West denies.
“Representatives of NATO members, particularly in small countries of Europe, should be aware of what they are playing with,” he said, adding they could be mistaken to rely on US protection if Russia strikes them.
“The constant escalation could lead to grave consequences,” he said. “If those grave consequences come to Europe, how will the US act in view of our parity in strategic weapons? Hard to say. Do they want a global conflict ?
Aiming the ‘nuclear pistol’
IN May, Russian radar facilities were attacked by Ukrainian drones. One damaged a radar in the southern Krasnodar region, according to satellite images. Another targeted a similar facility in the southern Urals, about 1,500 kilometers (930 miles) east of the border.
Both are part of Russia’s early warning system to spot intercontinental ballistic missile launches thousands of kilometers (miles) away. Moscow and Washington rely on such systems to track each other’s launches.
Along with earlier Ukrainian raids on Russian nuclear-capable bomber bases, the radar strikes could qualify as triggers for atomic-weapons use under Moscow’s nuclear doctrine. Russian hawks urged the Kremlin to respond forcefully.
At a June forum in St. Petersburg, Kremlin-connected foreign policy expert Sergei Karaganov urged Putin to “aim a nuclear pistol at our Western adversaries” to achieve victory in Ukraine.
Putin responded cautiously, saying he saw no security threats that warranted using Russia’s nuclear arsenal. At the same time, he indicated Moscow was pondering changes in its nuclear doctrine.
Amending the nuclear doctrine SINCE the war began, hawks have urged a revision of the doctrine, which says Moscow could use nuclear weapons in response
to a nuclear strike or an attack with conventional weapons that threatens “the very existence” of the Russian state. Some of them argue the threshold is too high, leaving the West with the impression that the Kremlin won’t ever touch its nuclear arsenal.
Foreign affairs analyst Dmitri Trenin of the Institute of World Economy and International Relations, a Moscow think tank advising the Kremlin, urged modifying the doctrine to declare that Russia could use nuclear weapons first when “the core national interests are at stake,” like in Ukraine.
“It’s important to persuade the ruling elites in the US and in the West as a whole that they won’t be able to stay comfortable and fully protected after provoking conflict with Russia,” Trenin said.
Climbing the ‘ladder of escalation’ WITH the West allowing Ukraine to hit Russian territory, Putin threatened to respond by providing weapons to Western adversaries worldwide. He underscored the message in June by signing a mutual defense pact with North Korea, signaling Moscow could start arms deliveries to Pyongyang.
He also declared that Moscow would start producing intermediate-range missiles banned under a Cold War-era pact that Washington and Moscow scrapped in 2019. The Kremlin wouldn’t say where Moscow could deploy the new weapons that were prohibited by the 1987 Intermediate-Range Nuclear Forces Treaty, which outlawed ground-launched missiles with a range of 500 to 5,500 kilometers (310 to 3,410 miles).
Such nuclear-capable missiles are seen as particularly destabilizing because they can reach targets faster than ICBMs, leaving
practically no time for decisionmakers and raising the likelihood of a global nuclear war over a false launch warning.
Hawks urged Putin to move quickly up a “ladder of escalation” to push the West to back off.
The exercise with battlefield nuclear weapons was one such move, Trenin said, while another could be an atomic test on Russia’s Arctic Novaya Zemlya archipelago. Putin has left the door open for resuming such tests, which are banned under a global pact that Russia has signed, although he noted “there is no need for that yet.”
Some Russian military experts said Moscow could declare a no-fly zone over the Black Sea to curb US intelligence flights that help Ukraine strike targets in Russia. In late June, the Defense Ministry threatened to take unspecified measures against US drones there.
Trenin and other experts said possible escalatory moves could include cyberattacks on US and European infrastructure, conventional strikes on Western troops if any go to Ukraine, and attacks on military supply hubs for Kyiv on the territory of NATO members. US military bases also could be targeted, they said.
At the top of the ladder, Russia could threaten nuclear strikes on NATO targets in Europe to “sober up the enemy and force it into the talks,” Trenin suggested.
“Active nuclear deterrence means the possibility of using nuclear weapons first in the ongoing conflict—not necessarily on the battlefield and not on the territory of Ukraine,” he said. “The enemy must have no doubt: Russia won’t allow itself to be defeated or blocked from achieving its declared goals by keeping nuclear weapons out of the conflict.”
Scammers swiping billions from Americans every year as criminals outsmart authorities
By Michael Rubinkam The Associated Press
THE scammers are winning.
Sophisticated overseas criminals are stealing tens of billions of dollars from Americans every year, a crime wave projected to get worse as the US population ages and technology like AI makes it easier than ever to perpetrate fraud and get away with it. Internet and telephone scams have grown “exponentially,” overwhelming police and prosecutors who catch and convict relatively few of the perpetrators, said Kathy Stokes, director of fraud prevention at AARP’s Fraud Watch Network.
Victims rarely get their money back, including older people who have lost life savings to romance scams, grandparent scams, technical support fraud and other common grifts.
“We are at a crisis level in fraud in society,” Stokes said. “So many people have joined the fray because it is pretty easy to be a criminal. They don’t have to follow any rules. And you can make a lot of money, and then there’s very little chance that you’re going to get caught.”
A recent case from Ohio, in which an 81-year-old man was targeted by a scammer and allegedly responded with violence, illustrates the law enforcement challenge.
Police say the man fatally shot an Uber driver after wrongly assuming she was in on a plot to extract $12,000 in supposed bond
money for a relative. The driver fell victim to the same scammer, dispatched to the home midway between Dayton and Columbus to pick up a package for delivery, according to authorities.
Homeowner William Brock was charged with murder in the fatal March 25 shooting of Lo-Letha Hall, but the scammer who threatened Brock over the phone and set the tragic chain of events in motion remains on the loose more than three months later.
Brock pleaded not guilty, saying he was in fear for his life.
Advantage scammers ONLINE and telephone rackets have become so commonplace that law enforcement agencies and adult protective services don’t have the resources to keep up.
“It’s a little bit like drinking from a fire hose,” said Brady Finta, a former FBI agent who supervised elder fraud investigations. “There’s just so much of it, logistically and reasonably, it’s almost impossible to overcome right now.”
Grifts also can be difficult to investigate, particularly ones that originate overseas, with stolen funds quickly converted into hard-to-track cryptocurrency or siphoned into foreign bank accounts.
Some police departments don’t take financial scams as seriously as other crime and victims wind up discouraged and demoralized, according to Paul Greenwood, who spent 22 years prosecuting elder financial abuse cases in San Diego.
“There’s a lot of law enforcement that think that because a victim sends money voluntarily through gift cards or through wire transfers, or for buying crypto, that they’re actually engaging in a consensual transaction,” said Greenwood, who travels the country teaching police how to spot fraud. “And that is a big mistake because it’s not. It’s not consensual. They’ve been defrauded.”
Federal prosecutors typically don’t get involved unless the fraud reaches a certain dollar amount, Greenwood said.
The US Justice Department says it does not impose a blanket monetary threshold for federal prosecution of elder financial abuse. But it confirmed that some of the 93 US attorneys’ offices nationwide may set their own thresholds, giving priority to cases in which there are more victims or greater financial impact. Federal prosecutors file hundreds of elder fraud and abuse cases annually.
The Federal Trade Commission says the “vast majority” of frauds go unreported. Often, victims are reluctant to come forward.
A 74-year-old woman recently charged with robbing a credit union north of Cincinnati was the victim of an online scam, according to her family. Authorities say they believe the woman was preyed on by a scammer, yet there is no record she made a formal police report.
“These people are very good at what they do, and they’re very good at deceiving people and
prying money out of them,” said Fairview Township, Ohio, police Sgt. Brandon McCroskey, who investigated the robbery. “I’ve seen people almost want to fist fight the police and bank tellers because they ... believe in their mind that they need to get this money out.”
A devastating scheme
Older people hold more wealth as a group and present a ripe target for scammers. The impact can be devastating since many of these victims are past their working years and don’t have much time to recoup losses.
Elder fraud complaints to the FBI’s Internet Crime Complaint Center rose by 14 percent last year, with losses increasing by 11 percent to $3.4 billion, according to a recent FBI report.
Other estimates put the annual loss much higher.
A 2023 AARP study calculated that Americans over 60 lose $28.3 billion each year to fraud. The Federal Trade Commission, seeking to account for unreported losses, estimated fraudsters stole a staggering $137 billion in 2022, including $48 billion from older adults. The authors of that study acknowledged a “considerable degree of uncertainty.”
In San Diego, 80-year-old William Bortz said criminals stole his family’s nest egg of almost $700,000 in an elaborate scheme involving a nonexistent Amazon order, a fake “refund processing center” in Hong Kong, doctored bank statements and an instruction that Bortz needed to “syn-
chronize bank accounts” in order to get his money back.
Bortz’s scammer was relentless and persuasive, harassing him with dozens of phone calls and, at one point, taking control of his computer.
Even though he was the victim of a crime, Bortz struggles with self-blame.
“I understand now why so much elder abuse fraud is never reported. Because when you look back at it, you think, ‘How could I have been so stupid? ’” said Bortz, who retired after a career in banking, financial services and real estate.
His daughter, Ave Williams, said local police and the FBI were diligent in trying to track down the overseas scammer and recover the money, but ran into multiple dead ends. The family blames Bortz’s bank, which Williams said ignored multiple red flags and facilitated several large wire transfers by her father over the course of eight days. The bank denied wrongdoing and the family’s lawsuit against it was dismissed.
“The scammers are getting better,” Williams said. “We need our law enforcement to be given the tools they need, and we need our banks to get better because they are the first line of defense.” The Justice Department contends industry needs to do more, saying the US can’t prosecute its way out the problem.
A way forward
BANKING industry officials told a Senate subcommittee in May they are investing heavily in new technologies to stop fraud, “and some hold great promise.” The American Bankers Association says it’s working on a program to coordinate real-time communication among banks to better flag suspicious activity and reduce the flow of stolen funds.
But industry officials said the banks cannot singlehandedly prevent fraud. They said the US needs an overarching national strategy to combat scammers, calling the federal government’s current efforts disjointed and uncoordinated.
Law enforcement agencies and industry need to join forces to fight fraud more quickly and efficiently, said Finta, the former FBI agent, who launched a nonprofit called the National Elder Fraud Coordination Center to cultivate better cooperation between law enforcement and major corporations like Walmart, Amazon and Google.
“There’s very, very smart people and there’s very powerful, wealthy companies that want this to stop,” he said. “So we do have the ability, I think, to make a greater impact and to help out our brothers and sisters in law enforcement that are struggling with this tsunami of fraud.”
“Private industry—including the tech, retail, banking, fintech, and telecommunications sectors—must make it harder for fraudsters to defraud victims and harder to launder victim proceeds,” the agency said in a statement to The Associated Press.
RUSSIAN President Vladimir Putin speaks during a meeting at the Russian Foreign Ministry in Moscow, on June 14, 2024. AP/ALEXANDER ZEMLIANICHENKO
By Josef Ramos
ILAS Pilipinas flew back home Tuesday with Tim Cone bringing with him renewed and invigorated hope for the men’s national team program.
“It’s hard to feel good about anything at this point, but if we put this in proper perspective that we’re trying to keep this team together, instead of it being a tough ending with the loss to Brazil, it’s actually a good beginning as we continue to shape and develop this team,” Cone told BusinessMirror via chat message.
Cone wanted to keep the team intact and next up for Gilas are the (FIBA) Asia Q ualifiers starting in November.
The Philippines had a rolling start in the Olympic Q ualifying Tournament in Riga last week with a stunning opening victory against host and world No. 6 Latvia, 89-
80, and a missed opportunity but nevertheless a satisfying loss to No. 23 Georgia, 94-96. Brazil ended all of Gilas’s hopes of playing in the Olympics in Paris for the first time since 1972 with a 60-71 victory over the weekend.
“It was a very tough ending for all of us,” Cone said. “We all had our dreams shattered.” Brazil routed Latvia, 9469, to top the OQ T and advance to Paris along with Greece, which won 80-69 over Croatia ; Puerto Rico, which booked a 79-68 victory over Lithuania ; and Spain, which downed Bahamas, 86-78, all at home also over the weekend.
UNIVERSITY of the Philippines (UP)Diliman leads the early entrants in the National Capital Region as University of San Jose-Recoletos heads the field in the Visayas for the preliminaries of the Estudyante Esports: The National Championships. Holy Angel University joined the cast in Luzon, while Mindanao State University-Iligan leads the charge in Mindanao in the national esports event featuring competitions in Mobile Legends: Bang Bang, Valorant, League of Legends and Tekken 8. Also set to vie for spots in the national championships in September are National University, Jose Rizal University,
A good beginning –Coach Tim Cone
Obiena misses podium in Paris
ERNEST JOHN “EJ” OBIENA will be reeling from a missed podium in the Paris Diamond League as he heads to his second straight Olympic appearance.
Obiena cleared 5.75 meters at the Stade Sebastian Charlety to finish fourth in the event where world and Olympic champion and record holder Armand Duplantis of Sweden soared to 6.0m for the gold medal.
“He failed to jump 5.85 and left himself one at [95], but unfortunately, he didn’t go,” Obiena’s longtime physiotherapist Antonio Guglietta told BusinessMirror on Monday. “But everything else was okay.” Two-time world champion Sam Kendricks of the US bagged the silver medal with 5.95 while Thibaut Collet of France claimed
They will join host France, Germany, USA, Japan, South Sudan, Australia, Canada and Serbia in the Olympics set July 26 to August 11.
The home-and-away Fiba Asia qualifiers kick off on November 21 with Cone stressing the need for 7-foot-3 Kai Sotto, who missed the
UP, USJ-R lead bets in Estudyante Esports
Pamantasan ng Lungsod ng Muntinlupa, Polytechnic University of the Philippines and University of Makati.
Lyceum Subic Bay, University of Science and Technology Southern Philippines and Central Philippine University have also enlisted for the esports festival organized by Dark League Studios (DLS) with a prize pot of P1.6 million.
“It’s not just tournaments. There will be loads of activities and programs designed to boost school pride and spirit. This is more than a competition, it’s an esports celebration of our schools and local communities,” DLS chief executive officer AC Valdenor said. Registration is still ongoing nationwide. Schools and campus esports organizations may inquire via estudyanteesports. dls@gmail.com or the Estudyante Esports Facebook account.
“Through the national championships, we are fulfilling Dark League Studios’ thrust and intent to bring esports more
guys back as we move forward,” said Cone, who also hopes Bennie Boatwright will be naturalized soon.
The 6-foot-10 Boatwright, who helped San Miguel Beer win the Philippine Basketball Association Commissioner’s Cup last season, expressed willingness to be naturalized for the Gilas program.
The Philippines booked its best campaign in Latvia after failing to win in previous OQ Ts in Manila 2016 and Serbia 2020.
Brownlee earned a spot in the Latvia OQ T All-Star Five with Brazil’s Bruno Caboclo and Leo Meindl, Latvia’s Rihards Lomazs and Cameroon’s Jeremiah Hill after averaging 23 points, 8.3 rebounds and 6.3 assists.
The other members of Cone’s team in Riga wereCalvin Oftana, Japeth Aguilar, Mason Amos, and Kevin Q uiambao. Scottie Thompson was
PSouth Pacific, Del Monte and Pueblo de Oro with the top two players from each category advancing to the finals. The player’s top four results will be counted for the Luzon series, while only the best two results will be considered in the Mindanao swing. Keen competition is also expected in the other age divisions with Maurysse Abalos, who claimed victory in the girls’ 10-12 category in the Visayas Series 3 in Negros Occidental, seeking another win against Georgina Handog, Q uincy Pilac, Aerin Chan and Lily Agamata.
ARIS—Ukraine’s best high jumper captured a world record on Sunday to go with her world championship—and now she has a good reason to think she might bring home an Olympic gold medal to her war-torn country. Yaroslava Mahuchikh erased a mark that had stood for 37 years at a Diamond League meet in Paris, jumping 2.10 meters (6.88 feet) in one of the last big tuneups leading into the Olympics. The previous record of 2.09 was set by Bulgaria’s Stefka Kostadinova in Rome in 1987. “Coming into this competition, I had feelings that I could jump 2.07 meters and maybe 2.10 meters,” Mahu-
Handog previously split top honors with Abalos in the 8-10 class at Splendido and Pradera, respectively, before the age-group format was modified from three to four brackets. Patrick Tambalque returns from a stint in the Singapore Open to pursue a second leg crown in the boys’ 16-18 category following a dominant win in Visayas Series 2 in Murcia, Bacolod. But out to foil the Cavite native’s title drive are Harry Sales, Alonso Espartero, Francis Slavin, Mark Kobayashi, Abram Lim, Rolly Duran and Alejandro Arabia.
chikh said. “Finally I signed Ukraine to the history of world athletics.” The 22-year-old Mahuchikh and world indoor champion Nicola Olyaslagers both cleared 2.01 meters on their second attempt. After Olyslagers failed three times at 2.03, Mahuchikh cleared that height to secure victory. She then cleared 2.07 meters to set a Ukrainian record and had the bar raised to 2.10, which she cleared on her first try. Mahuchikh left her hometown of Dnipro shortly after the war with Russia began. Like virtually all elite athletes in her country, she has been training in foreign countries while keeping tabs on the war back home. She has been outspoken about the role Ukrainian sports can play to give signs of hope to those fighting for
