THE growth of the Philippine economy may have slowed in the third quarter of 2024 due to a slack in private consumption despite the easing of monetary policy, according to Moody’s Analytics.
In its latest economic brief, Moody’s Analytics said Philippine GDP growth will slow to 5.7 percent in the third quarter from the 6.3 percent posted in the second quarter. This will also be the slowest since the 5.5 percent posted in the fourth quarter of 2023.
“Government spending and private investment will drive growth, while private consumption
will be muted because recent rate cuts need time to filter through the economy,” Moody’s Analytics said.
“Exports could lose some shine due to soft external demand for Philippine goods and a slower increase in international tourist arrivals,” it added.
Inflation is also expected to be higher at 2.3 percent in October compared to the 1.9 percent posted in September this year, which was touted as the slowest in four years.
Moody’s Analytics inflation expectation is within the Bangko Sentral ng Pilipinas (BSP) month ahead forecast of 2 to 2.8 percent.
BSP earlier said higher prices of food commodities such as vegetables, fruits, and fish will increase inflation in October. Other factors such as the prices of domestic petroleum products and the peso depreciation will also lead to faster increase in inflation.
Nonetheless, BSP said lower prices of rice and meat along with reduced electricity rates are expected to cushion the impact on inflation by higher prices of select food items.
Earlier, ANZ Research said it also expects GDP growth to
average 5.7 percent in the July to September 2024 period due to slower private consumption.
The think tank expects the national government’s consumption to slow to 6.4 percent in the third quarter year on year compared to the 18 percent posted in the second quarter of 2024.
The Philippine Statistics Authority (PSA) will release the official estimates for the third quarter performance of the economy on Thursday, November 7.
Cai U. Ordinario
By Cai U. Ordinario @caiordinario
SUPPLY-SIDE challenges such as material shortages and longer delivery times have led to slower Purchasing Manager’s Index (PMI) in October for the country’s manufacturing sector.
In Standard & Poor’s (S&P) Global PMI report, the country’s PMI slowed to 52.9 in October 2024 from the 53.7 posted in September 2024.
Despite the slowdown, S&P Global Market Intelligence said the October figure was the secondhighest reading since January 2023 which marked a “solid improvement” in the manufacturing sector.
“However, firms revealed supply-side challenges, with material shortages resulting in longer delivery times, and cooling buying activity,” Maryam Baluch, Economist at S&P Global Market Intelligence, said.
“It was also one of the key factors for rising input prices, which was further exacerbated by the depreciation of the peso against the dollar,” she added.
Ateneo de Manila University economist Leonardo Lanzona Jr. told BusinessMirror that the decline in the PMI is expected to continue as the Christmas shipment season comes to a close.
Lanzona noted that the country’s PMI continues to be well above the 50-mark because of pent up demand thanks to lower inflation rates and the easing cycle of the Bangko Sentral ng Pilipinas (BSP). He added that the “ber” months of September to December are also known for holiday preparations that lead to higher consumer activity and demand for goods.
“This seasonal uptick often bolsters various sectors, including food, electronics, and consumer goods, as companies increase production to meet anticipated consumer spending,” Lanzona told BusinessMirror
tion rate, covering the period 2022-2026. Reinstated ERC chairperson Monalisa Dimalanta said on Monday that the lat -
est decision was made by the commissioners, which was then headed by ERC Officerin-Charge Jesse Hermogenes T. Andres, while she was placed on preventive suspension by the Office of the Ombudsman. She reported for work last October 31.
“I understand that during the last Commission meeting of Usec Jesse last week, the Commission agreed to modify the resolution dispensing
See “ERC,” A2
Labor groups to lawmakers:
Approve P150 wage hike
By Justine Xyrah Garcia
WITH seven months left in the 19th Congress, several labor groups urged lawmakers to prioritize the passage of the at least 150 increase in the daily minimum wage—a rate they deem essential to easing the financial burden of millions of workers due to rising living costs. The National Wage Coalition
(NWC), comprising the Trade Union Congress of the Philippines, Kilusang Mayo Uno, Bukluran ng Manggagawang Pilipino, and Nagkaisa Labor Coalition, voiced their concern in a protest outside the House of Representatives on Monday. The groups argued that the current system of wage reviews by regional boards has persistently
See “Labor,” A2
Palay output seen plunging on El Niño, storms’ impact
By Ada Pelonia
THE
Department of Agriculture
(DA) said the country’s palay production could plunge by the end of the year due to the gravity of damage inflicted on plantations by El Niño and typhoons.
“We can really expect palay output to be lower compared to last year because of the huge damage this year,” Agriculture Assistant Secretary Arnel de Mesa told reporters on Monday.
De Mesa listed the impacts of El Niño and the series of typhoons that struck the country as reasons behind the projected decline in unmilled rice output.
“We are really seeing a massive extent of damage, because typhoon Kristine hit hard our major riceproducing regions and areas,” he added, partly in Filipino.
According to the DA’s latest
bulletin, severe tropical storm Kristine destroyed agricultural commodities and infrastructure worth P5.75 billion.
Broken down, De Mesa explained that the Bicol Region sustained the most losses valued at P2.9 billion followed by Mimaropa at P746 million and Cagayan Valley at P621 million.
The DA noted that rice suffered most of the typhoon’s impact at 516,438 metric tons (MT); followed by damage of 35,616 MT for highvalue crops; 3,334 MT for corn; 2,047 MT for cassava; and 416 MT for fisheries.
“We will eventually determine the extent of the decline, but there will be a [decline in] output, especially for rice this year,” De Mesa said.
The DA recently said the Philippines may end 2024 with a palay output of 19.41 million metric tons (MMT), 3.24 percent lower than the record 20.06 MMT it produced last year. The projected 2024 palay output is equivalent to 12.69 MMT in milled terms.
Despite the projected decline in palay output, De Mesa assured the public that the local production would be supplemented by the arrival of imported rice.
Government data showed that rice import arrivals as of October 24 have surpassed actual shipments for the whole of 2023.
Figures from the Bureau of Plant Industry (BPI) showed that rice arrivals from January 1 to October 24 reached 3.676 MMT. The country imported 3.606 MMT of rice in 2023.
De Mesa also explained that the reduction in tariffs from 35 percent to 15 percent and India’s
recent lifting of its ban on nonbasmati white rice shipments would help augment rice supply. Because tariffs went down, and India lifted its ban on rice exports, the rice imported by the Philippines would not cost so much, he explained. Government official and industry sources earlier said India easing its export restrictions could affect world and domestic rice prices.
Labor…
failed to keep up with economic realities, only offering minor adjustments that barely address the daily needs of working families.
“The amounts are grossly inadequate. In the National Capital Region, the increase was a mere P33, which is insufficient to even buy a kilo of rice,” Nagkaisa President Sonny Matula said.
The coalition also said that the legislative response to wage concerns has been lethargic.
In addition to the inadequacy of wage board increases, labor leaders criticized the slow legislative response to wage concerns, describing it as “lethargic” and a betrayal of lawmakers’ commitments to improve the lives of
The United States Department of Agriculture (USDA) also said in its recent report that Asian export quotes “declined significantly” in response to India lifting its export ban on non-basmati white rice.
“Vietnam quotes decreased by $28 to $534 per ton, while Thailand declined by $60 to $517 per ton with increased pressure from India’s return to the market,” the international agency said.
Continued from A1
working-class Filipinos. Despite a public hearing held on May 8, the House Committee on Labor and Employment has yet to issue a report on proposed legislated wage hikes—a delay that the NWC characterized as “intolerable” and a “slap in the face” of workers who have been waiting for relief.
Matula and other coalition leaders contend that this inaction not only stalls potential financial support for workers, but also undermines the trust that Filipinos place in their elected officials.
“The House of Representatives must now prove itself worthy of the people’s trust by passing the proposed legislated wage hike now in response to
Continued from A1
with the Meralco 5th RP. I am still checking the minutes of the meeting for the details of the modification,” Dimalanta said.
As a result, there are two orders made by the commission en banc.
Last August 21, the Commission already voted, 3-2. Dimalanta said she was part of the two commissioners who dissented, along with Commissioner Maceda. “Our dissent vote was that there needs to be a proper reset for the 5th RP, which is the 2022 to 2026 period of Meralco,” she earlier said.
This decision—not allowing Meralco to undergo a rate reset in its 5th RP—was supposed to result in P16 billion worth of refund to Meralco customers, according to officials of the utility firm.
The next step now is for ERC to release the original order and the modified order, possibly within the month. “I suppose so because in both instances there was a quorum present and a resolution was passed by majority vote,” Dimalanta said when asked
Continued from A1
“Thus, as the country’s manufacturing base increases and the Christmas season completes by the end of the year, expect the growth rate of PMI to be much lower,” he added.
Meanwhile, former Socioeconomic Planning Secretary Dante B. Canlas also told BusinessMirror that the peak time for manufacturing production is in the third quarter.
This means, the above 50mark performance of the country in terms of PMI in the past few months have been linked to this.
But, Canlas said, the long-run prospects of the manufactured exports in semiconductors and electronics continue to be hampered by various factors.
“[These include] scarce supply of intermediate products, and high cost of electricity, to cite a few major factors. Overcoming these constraints will usher in smooth growth,” Canlas told this newspaper. Lanzona also noted that the “lack of skills, the poor adaptation of new technology, and absence of clear industrial policies” also contribute to the drag experienced by the manufacturing sector.
In October, S&P Global Market Intelligence noted a marked increase in employment which hit an 88-month high, allowing firms to work through the build-up in their backlogs.
Baluch said employment was “the real stand-out” in October as the job creation of the manufacturing sector recorded its strongest performance in over seven years.
Nonetheless, the report noted that purchasing activity was weaker compared to September. The report noted that firms reported higher prices of raw materials often dissuaded them from purchasing inputs.
if both orders are valid. She said the modified decision was arrived at “in response to the sentiments in the hearings,” referring to the budget hearings held earlier at the Senate.
Senator Sherwin Gatchalian, vice chair of the Senate Committee on Energy, said that without the rate reset, Meralco’s charges may not reflect the current economic conditions, potentially resulting in increased costs for households and businesses.
“As consumers, we are expressing our opposition to the ERC’s decision to forego the 5th regulatory reset of Meralco’s distribution rate. The rate must go through the resetting process,” Gatchalian earlier said.
“We did this to the National Grid Corporation of the Philippines, so we must apply the same rules to Meralco. Given its market power and status as a natural monopoly in NCR and nearby areas, Meralco has to undergo a rate reset as well,” the senator added.
Gatchalian also urged the ERC to come up with a study that
While labor groups see this as a step in the right direction, they argued that it still fell far short of meeting workers’ actual needs. According to IBON Foundation, workers across the country are short by an average of P772 daily to live decently. (Related: https://businessmirror.com. ph/2024/09/09/think-tank-average-minimum-wage-covers-athird-of-family-living-needs/)
would enable the regulatory body to catch up with its review of rates of various stakeholders in the power sector. “Why require a rate reset if the ERC isn’t even conducting it?”
Asked for comment on the modified decision, Meralco Senior Vice President and Head of Regulatory Management Atty. Jose Ronald Valles said the utility firm is hoping for the ERC to release its final decision very soon.
“We have filed our Motion to Withdraw more than a year ago and we believe that the ERC had more than enough time to make a fair Decision that is consistent with law and their own rules. 6th Regulatory Period is already fast approaching and under ERC’s own rules, we should be preparing for the 6th RP already at this time,” he said via Viber. A rate reset is a periodic process conducted by the ERC to review and adjust distribution rates charged by utilities like Meralco. It ensures rates reflect the actual costs of delivering electricity, considering factors such as inflation, operational expenses, and the Weighted Average Cost of Capital (WACC). Meralco’s current WACC is 14.97 percent, and it has not been updated since 2015. over three decades of falling purchasing power of workers’ wages which has always failed to catch up with rising prices,” he added. In February, the Senate approved a P100 daily minimum wage hike for all private sector workers nationwide.
Tripling of Rcef to ₧30B expected to hasten small farmers’ recovery
By Jovee Marie N. dela Cruz
W@joveemarie
ITH extensive agricultural losses owing to Severe Tropical Storm Kristine, the chairman of the House of Representatives’ Committee on Aquaculture and Fisheries Resources is optimistic that a soon-to-be enacted measure increasing the size of the Rice Competitiveness Enhancement Fund (Rcef) from P10 billion to P30 billion per year would help small farmers recover mounting losses.
Bicol Saro Rep. Brian Raymund Yamsuan said the proposed increase in Rcef, which has been approved by Congress and awaits the President’s signature, would directly aid 2.4 million small farmers cultivating two hectares or less.
Yamsuan said the expanded fund would also support the provision of farm machinery, quality seeds, credit assistance, training, solar-powered irrigation, and composting facilities.
On top of providing aid to farmers, the measure also increases the allocation for the provision of farm
machinery and equipment, quality inbred rice seeds, rice credit assistance, training and extension, solar powered irrigation projects, and composting facilities for biodegradable waste.
“Recovery from the effects of Tropical Storm Kristine will not be overnight. This is a continuing process that requires sustained funding and assistance to our farmers and fishermen,” said Yamsuan.
“I am optimistic that the President will sign the ratified bill soon so that the Rcef could become a more potent tool to help small farmers, especially those in Bicol, which was the worst hit by Kristine,” Yamsuan added.
The ratified measure, of which Yamsuan is among the principal authors in the House of Representatives, also aims to protect consumers as it gives the Department of Agriculture (DA) the authority to sell rice reserves of the National Food Authority (NFA) to government outlets and agencies in times of shortages and high rice prices.
Pantawid Pambangka Program AS chairman of the House Com -
mittee on Aquaculture and Fisheries Resources, Yamsuan also prodded Congress to act fast in passing the proposed Pantawid Pambangka Program outlined under House Bill 1803 to provide direct aid to small fishermen through the grant of fuel vouchers equivalent to at least P1,000 per month.
HB 1803, which benefits fishermen using motorized fishing vessels of three gross tons or less, provides for a yearly review of the monthly subsidy to determine if the amount is still sufficient when taking nto account the effects of inflation.
Beneficiaries of the Pantawid Pambangka Program shall also be automatically enrolled and covered under the National Health Insurance Program of PhilHealth.
The Social Security System (SSS) shall also provide microinsurance mechanisms for the beneficiaries under the bill.
As of November 2, the damage to the agriculture sector wrought by Kristine has already reached P5.75 billion and has displaced 131,661 farmers and fishermen,
Mixed movement of fuel prices this week
By Lenie Lectura @llectura
OIL companies will implement a mixed price adjustment of petroleum
Gasoline prices will go down by P0.10 per liter while diesel and kerosene will increase by P0.75 per liter and P0.50 per liter, respectively. The announcement was made by Petron, Shell, Caltex, Unioil, Seaoil, Total, PTT, Phoenix, and Jetti on Monday. Their pump prices will be adjusted at 6 a.m. of November 5 except Cleanfuel that will implement the new pump prices at 4:01 p.m.
Oil companies adjust pump prices every week to reflect movements in the world oil market.
Oil Industry Management Bureau Director Rodela Romero cited geopolitical uncertainties as the main reason for the price increase. The price rollback, on the other hand, was a result of the impending meeting
according to the DA.
Among crops, rice incurred the biggest losses, totaling P4.25 billion so far.
Losses to the fisheries sector were estimated at P446.22 million.
The DA Regional Office in Bicol initially placed losses to the agriculture sector at more than P2.1 billion in the region. Camarines Sur was the hardest hit, suffering an estimated P1.03 billion in losses, followed by Albay with P403 million as of the latest tally.
The ratified bill extending the life of Rcef reconciled the provisions under House Bill (HB) 10381 and Senate Bill 2779.
It amends Republic Act 11203, or the Rice Tariffication Act of 2019, which allowed private traders to import rice. Under this law, at least P10 billion of the tariffs collected from rice imports should go to the Rcef.
Amendments under the ratified bill increase this amount to P30 billion, of which the deficiency would be supplemented by allocations from the national budget.
It also gives the Agriculture Secretary the authority to designate importing entities during times of “extraordinarily” high prices.
The importing entity is required to ship rice at least cost following the conclusion of government-to-government supply agreements.
proposed by Israeli’s Prime Minister for a diplomatic solution to the war in Lebanon.
On October 29, oil companies implemented an increase of P0.20 per liter for gasoline and a rise of P0.50 per liter for both diesel and kerosene.
The year-to-date, total adjustment of gasoline and diesel stands at a net increase of P8.75 per liter and P6.55 per liter, respectively. On the other hand, kerosene has a total net decrease of P3.10 per liter.
Feedback: A Gift or a Curse?
By Henry J. Schumacher
IF all in a team think and do the same, it will not really move things forward.
The question is: How can managers and employees make feedback sessions lead to success?
Feedback is a gift. Without feedback, there is no development.
Are you familiar with these sayings? I am a strong advocate of feedback—provided it is done correctly. I particularly value 360-degree feedback, where input comes not only from leadership but also from employees, colleagues, and customers, offering diverse perspectives.
Accepting feedback is not easy. When it’s not positive, we quickly feel the urge to defend and explain ourselves. Suppressing this reflex and simply listening requires practice.
However, giving good feedback is even harder—especially in a way that the recipient can truly benefit from it. Feedback should not only be constructive and appreciative, but also timely (preferably soon after an event, but not emotionally “charged in the heat of the moment”). More importantly, we need to be aware of the standards we use when assessing a person.
Who actually decides what the norm is in our work environment? It’s rarely as clear-cut as some might believe. For example, a respected colleague I work with regularly asked me recently, “Hey, can I give you some feedback?”“Sure,” I replied. He continued, “Isn’t it normal that I see some things differently than you? That I behave differently?”
I asked if he thought that the person in
question had been treated too harshly. “No, no, that’s all fine,” he replied. He considered this and struggled to find the right wording. I had a hunch and asked if he essentially wanted to say that I had behaved differently than he would have. He paused and said, “Yes, exactly, that’s what I mean. I probably wouldn’t have said anything at all.” I couldn’t help but smile. “Look, there’s an age difference between us. Deviations from my norm—undesirable? That doesn’t motivate anyone. Feedback can only truly be effective if it is meaningful.”
According to a study by Gallup, only 26 percent of employees feel that the feedback they receive helps them perform their jobs better. However, this can easily be changed through genuine dialogue. When both parties share their perspectives on a situation, looking not only at the past but also considering the future, they can discuss concrete ways to improve things. Establishing this context takes effort and requires the ability to reflect on one’s own perspective, even to endure that other perceptions have their validity. But when successful, everyone benefits. Such exchanges not only foster personal development but also help the entire team tackle its tasks more effectively.
Leaders who understand how to give feedback that inspires, who know the limits and opportunities of their teams, will be more successful. After all, we are currently witnessing rapid changes in our world. Our assessments in politics and business have been shaken. It’s high time to break the homogeneity among decision-makers to find future-oriented solutions. Most companies recognize this and seek people with diverse viewpoints and opinions. However, only those who can accept these differing perspectives and not dismiss them out of habit will truly benefit.
In conclusion, I know from experience that the change in perspectives is fun! Why don’t you try it?
As I believe in feedback, I look forward to your feedback. Contact me at hjschumacher59@gmail.com
A4
Tuesday, November 5, 2024
PHL braces for Tropical Storm Marce
SBy Jonathan L. Mayuga @jonlmayuga
TILL reeling from the effects of Tropical Storm Kristine and Leon, typhoon-affected areas in northern Luzon are again threatened by another storm.
Tropical storm Marce, international code name Yinxing, entered the Philippine Area of Responsibility (PAR) Monday morning and slightly intensified, said the 11 a.m. Tropical Cyclone Bulletin of the state weather bureau on Monday.
Marce, the 13th severe weather disturbance to enter the Philippine Area of Responsibility this year and the first this month, is likely to induce heavy rain in Northern Luzon, the state weather bureau said.
“As Marce moves northwestward within the PAR region, it may enhance the northeasterly wind flow, which may occur within the week. This, and the trough of the tropical cyclone, will bring rains over Extreme Northern Luzon and the eastern section of Luzon beginning today [Monday] or on Tuesday,” the Philippine Atmospheric, Geophysical and Astro -
nomical Services Administration (Pagasa) said.
Pagasa however did not raise any Tropical Cyclone Wind Signal in areas that may be affected but said Signal 1 may be hoisted over portions of Cagayan by Tuesday.
The center of the eye of the storm was located at 775 km east of Borongan City, Eastern Samar as of 10 a.m. Monay. It is moving west northwestward at 35 kilometers per hour.
Marce is packing a maximum sustained winds of 75 kmh near the center and gustiness of up to 90 kmh.
Marce is expected to gradually intensify and may reach a severe tropical storm category by Tuesday. Furthermore, it may also reach the typhoon category by Tuesday evening or Wednesday early morning. Rapid intensification is likely, Pagasa said.
PHL, Brunei choppers bring aid to Calaguas Island
SIKORSKY UH-60 “Black Hawk” helicopters from the air forces of the Philippines and Brunei ferried
DSWD: 400K families waiting to join 4Ps
By Jovee Marie N. dela Cruz @joveemarie
THE Department of Social Welfare and Development (DSWD) has confirmed that more than 400,000 waitlisted households are eligible to join the Pantawid Pamilyang Pilipino Program (4Ps) once spots open up from families exiting the program.
DSWD 4Ps National Program Manager Gemma Gabuya said that as of September 30, these waitlisted households will be prioritized as replacement beneficiaries for those who have graduated through the “Pugay Tagumpay” program.
Last year, the DSWD conducted a re-assessment of the 4Ps beneficiaries who were tagged as “non-poor” by the Listahanan 3. The reassessment, Gabuya explained, resulted in the reinstatement of more than 700,000 beneficiaries.
“Some families previously identified as non-poor had become subsistence or survival households. Secretary Rex [Gatchalian] saw that many weren’t yet ready to exit, which delayed waitlisted families’ entry,” Gabuya said.
She said the exit of the households is in line with the provisions of Republic Act 11310, or the 4Ps Law, which states that “a qualified household beneficiary shall be deemed to exit from the program when the last monitored child in the household turns 19 years old.” At present, the DSWD is facilitating the graduation from the program of households that no longer have eligible children or those enrolled in elementary, high, and senior high school.
Gabuya said the DSWD will undertake a validation process to determine the eligibil -
ity of over 1 million households identified as potential 4Ps beneficiaries.
“These are the pool of poor households that were extracted from Listahanan 3, or the National Household Targeting System for Poverty Reduction (NHTS-PR),” Gabuya pointed out.
She explained that these are only potential households, and they are subject to further checking and validation to determine whether they are eligible or not qualified based on the program criteria.
To be eligible for the program, identified poor and near-poor households or families must be willing to comply with the conditions and must have a 0–18-year-old family member and/or a pregnant family member at the time of registration.
Once validated and found to be eligible, they will replace the beneficiaries who have already exited from the program, according to Director Gabuya.
Launched in 2008 and institutionalized by Republic Act 11310 in 2019, the 4Ps is the national poverty reduction strategy and human capital investment program that provides conditional cash transfers to poor households for a maximum period of seven years to improve their children’s health, nutrition, and education.
Each household beneficiary receives P750 per month for health; P300 per child in elementary, P500 per child in junior high school, and P700 per child in senior high school for education, with a maximum of three children per household for 10 months in a school year; and a monthly rice subsidy of P600 for active and compliant households.
More than four million households nationwide are registered beneficiaries of the 4Ps.
Marcos signs 15 new laws during Congress recess
RESIDENT
PMarcos signed 15 new laws during the congressional recess, driving forward key reforms in agriculture, education, defense, and judiciary, Speaker
Ferdinand Martin G. Romualdez said on Monday.
“From strengthening our agricultural economy to enhancing judicial capacity and
relief goods to Calagaus Island, which was heavily-affected by the recent typhoons, on Saturday.
“Mobilizing their ‘Black Hawk’ helicopters, both air forces efficiently transported family food packs provided by the Department of Social Welfare and Development (DSWD) to the island’s residents, who have been severely affected by recent severe weather conditions,” the Air Force spokesperson, Col. Maria Consuelo Castillo, said in a statement Monday.
Castillo added this mission underscores the strong partnership between the Philippines and Brunei Darussalam and demonstrates the two countries’ commitment to regional security and humanitarian assistance.
“The mission is also in collaboration with the Army’s ground troops and personnel from the DSWD-Region 5 and the Office of Civil Defense,” Castillo said.
Globe Telecom initiates proactive measures
GLOBE Telecom Inc. on Monday said it has initiated proactive measures to bolster its network and
personnel readiness as Tropical Storm Marce entered the Philippine Area of Responsibility (PAR) on Monday, potentially affecting Northern Luzon.
Globe Spokesperson Yoly Crisanto, said the company is preparing for the storm’s anticipated intensification into a typhoon over the coming days.
She said as part of its preparedness strategy, Globe has deployed generator sets and batteries across its network facilities along Marce’s projected path to mitigate the effects of potential power outages.
Additionally, Globe has mobilized technical and support teams, complete with emergency equipment and supplies, to provide swift response when needed.
PPA activates safety protocols
WITH Tropical Storm Marce expected to bring powerful winds and heavy rains, the Philippine Ports Authority (PPA) has issued directives to all port management offices nationwide to activate standard safety protocols.
PPA General Manager Jay Santiago has directed ports across
the Philippines to implement proactive measures to safeguard passengers and port users, especially in areas still recovering from the impact of Severe Tropical Storm Kristine.
He assured that despite some damage to port facilities caused by Kristine, all PPA-managed ports are now fully operational, with services back to normal.
Ongoing repairs are underway, notably in Batangas, where solarpowered lamps, lighting facilities, and cyclone wire fences were damaged by the recent storm.
Santiago said that the PPA and the Department of Social Welfare and Development (DSWD) have pre-positioned emergency food supplies across ports to offer support for delayed travelers and those affected by adverse conditions.
The PPA is also providing free water refilling stations, charging points, and staffed Passenger Help Desks to assist travelers in need.
Leviste distributes relief packs in Batangas IN response to the devastation
Filing of certificates of candidacy for BARMM elections starts
By Justine Xyrah Garcia
AS the filing of certificates of candidacy for the 2025 parliamentary elections began on Monday, the Commission on Elections appealed for help in spreading awareness about the coming polls in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Speaking at a press briefing at the Comelec’s Regional Office in Cotabato City, Chairman George Erwin M. Garcia stressed the importance of ensuring that voters across the region are wellinformed and involved in the electoral process.
The poll chief’s request comes after a June study by the Institute for Autonomy and Governance revealed that over half—58.4 percent—of Moro voters are unaware of the new voting system set to take effect next year.
This finding underscored the need for extensive voter education in the region, which has previously seen limited electoral engagement and awareness.
According to the study, most BARMM voters rely on informal sources for election-related information, with 42.2 percent citing family and friends, 38
supporting education, these laws represent concrete steps to ensure a safer and more prosperous Philippines,” Romualdez said.
The newly signed laws, enacted between September 26 and October 30, address urgent issues such as agricultural smuggling, the ex -
percent turning to social media, 32.4 percent to barangay officials and other leaders.
About 26.3 percent of voters rely on radio, while 1 percent on newspapers.
A cause for concern however is the finding that only 1 percent of respondents said that they received information directly from Comelec, highlighting a critical gap in official communication efforts.
As part of its voter’s education campaign, the poll body shared that a nationwide “roadshow” would take place from December 3 to January 30 where the newly procured automated counting machines would be featured.
Garcia said that this initiative aims to help voters be familiar with the updated technology brought by the new machines.
Aside from selecting national and local officials in the May 12 polls, voters from BARMM will also cast their ballots for representatives that will fill the seats in the Bangsamoro Parliament.
Garcia said this first and historic election would mark a key moment in the region’s selfgovernance journey, shaping
pansion of judicial branches, and the creation of a nationwide academic recovery program. Congress resumes session on Monday.
Since Marcos assumed office on June 30, 2022, a total of 103 bills have been signed into law, 50 of which are of national impor -
brought by Typhoon Kristine, Leandro Legarda Leviste has provided over 150,000 relief packs to residents across western Batangas, aiming to support communities severely affected by the recent storm.
Leviste, recognized as one of the country’s youngest billionaire entrepreneurs, quickly mobilized relief efforts, beginning distributions on October 23.
The relief packs, coordinated through Leviste’s Lingkod Legarda Leviste Foundation, reached all 284 barangays in the affected areas, delivering essentials to families struggling with the storm’s aftermath. Beyond immediate relief, Leviste has also launched efforts to support long-term recovery, distributing construction materials to families with partially or fully destroyed homes. His personal funding of the relief operations highlights an urgent response to the needs of his home province, especially as local government resources remain constrained in responding to large-scale natural disasters. With Rex Anthony Naval and Lorenz S. Marasigan
Villar advocates early breast cancer detection
By Butch Fernandez @butchfBM
how laws can directly address the unique needs of Bangsamoro communities.
Of the 75 available parliament seats, 67 will be filled through the electoral process.
Forty of these seats are designated for regional political parties, which can secure seats by gaining at least 4 percent of the vote. If multiple parties meet this threshold, the seats will be distributed equally among the winning parties.
Meanwhile, another 25 seats will be designated for representatives from parliamentary districts across BARMM.
The remaining eight seats are reserved for representatives from sectoral organizations, such as women, youth, and indigenous communities.
Unlike the other seats, these representatives will not be elected directly but will instead be chosen through assemblies—based on the rules provided by the Bangsamoro Transition Authority.
While the Supreme Court has yet to rule on petitions to extend BARMM’s transition period and postpone the parliamentary elections, Garcia affirmed that Comelec will proceed with preparations as planned.
tance and 53 for local application.
The newly signed laws include Republic Act 12022, which defines agricultural economic sabotage crimes, enforces penalties, grants jurisdiction to the Court of Tax Appeals (CTA), and strengthens enforcement mechanisms, repealing the “Anti-Agricultural Smuggling Act of 2016.”
RA 12023 amends the National Internal Revenue Code of 1997 to enhance tax administration and compliance while RA 12024 revitalizes the self-reliant defense posture program, promoting a national defense industry and allocating necessary funds.
RA 12025 establishes five new Regional Trial Court (RTC) branches in Muntinlupa City to improve judicial efficiency, while RA 12026 creates four new RTC branches in Calauag, Quezon Province, to enhance access to justice. RA 12027 suspends the use of the mother tongue as the medium of instruction for kindergarten to Grade 3, amending the “Enhanced Basic Education Act of 2013.”
Further, RA 12028 establishes the Academic Recovery and Accessible Learning (Aral) program, providing funds to support
SEN. Cynthia Villar has underscored the urgent need for increased awareness and early detection of breast cancer in a speech at the Breast Cancer Awareness Seminar held in Las Piñas City.
With growing concerns about the rising number of cancer cases in the country, Villar emphasized the critical role of health vigilance.
“Health is wealth,” ika nga, kaya mahalaganabigyannatinngpanahonangating kalusugan. Dapat lagi tayong naka-alerto sa mga early signs and symptoms ng mga nakakabahalangsakit,kasamanadiyanang breast cancer,” said the senator.
Statistics reveal that breast cancer is the leading cause of cancer-related deaths among women in the Philippines, with estimates suggesting that 1 in every 13 Filipino women may develop the disease during their lifetime. Globally, breast cancer accounts for over 2.3 million new cases each year, according to the World Health Organization.
Villar cited the importance of expanding knowledge and awareness about breast cancer, noting its potential impact on individuals and their loved ones, regardless of gender.
Villar also addressed common misconceptions surrounding breast cancer, pointing out that men can also be affected. She called for improved communication of relevant health information and enhanced research capabilities to bolster public health services.
She urged people to remember that “information is a powerful weapon” and “prevention is always better than cure.”
educational recovery. RA 12029 adds two RTC branches in Silang, Cavite, addressing case backlogs, and RA 12030 creates three new Metropolitan Trial Court branches in Parañaque City to expedite legal proceedings. RA 12031 establishes two RTC branches in Cabagan, Isabela, improving judicial access. Additionally, RA 12032 creates three RTC and two Municipal Trial Court branches in Dinagat Islands to enhance accessibility, and RA 12033 designates a new RTC branch in Baybay City, Leyte, as a special court for drug cases.
RA 12034 establishes six RTC branches in Diplahan, Zamboanga Sibugay, strengthening legal services, while RA 12035 creates three more RTC branches in Valencia City, Bukidnon, to meet judicial needs. Finally, RA 12036 establishes four RTC branches in Tacloban City, Leyte, to boost judicial capacity.
“Our new law against agricultural economic sabotage directly targets those who seek to exploit our farmers and consumers through smuggling and other illicit activities,” Romualdez said, referring to RA 12022. Jovee Marie N. dela Cruz
DepEd’s answer to typhoon disruptions to classes: DLP
TO support education continuity in schools impacted by typhoons and other natural disasters, the Department of Education (DepEd) on Monday will deploy the Dynamic Learning Program (DLP) beginning this November.
The pilot implementation of DLP will be in affected schools in Regions I, II, III, IV-A, V, and Cordillera Administrative Region. The DLP initiative is designed to address disruptions caused by disasters and other challenges by promoting independent, resourceefficient learning.
“We’re bringing resilience to the heart of learning so that no student’s education has to pause when challenges arise,” explained Education Secretary Juan Edgardo “Sonny” Angara.
Under the DLP, affected schools have the flexibility to conduct make-up classes and utilize DLP learning activity sheets in temporary learning spaces. These activity sheets are designed to be simple, targeted, and adaptable.
The program’s features include:
parallel classes, activity-based engagement, student portfolios, and a reduced homework policy.
It encourages learners to engage deeply with lessons and build essential skills like writing, problem-solving, and critical thinking.
Through this initiative, DepEd seeks to restore educational opportunities for students by establishing resilient, adaptable learning practices.
The deployment of DLP is aligned with the directive of President Ferdinand R. Marcos Jr. as a proactive learning continuity measure during disaster and emergency contexts.
DLP was developed by Dr. Christopher Bernido and Dr. Ma. Victoria Carpio-Bernido, founders of the Central Visayan Institute Foundation (CVIF) in Jagna, Bohol.
It aims to improve learning outcomes through independent learning and minimal resource dependence, making it particularly effective in resource-limited environments.
Claudeth Mocon-Ciriaco
Lacson wants to replicate Misamis sanctuary for kids
FORMER senator Panfilo Lacson is looking to replicate the model set up by Misamis Occidental for a refugee center for abused children as he vows to continue championing the welfare of women and children by strengthening the mechanisms to protect them.
Lacson said he will prioritize the institutionalization by way of legislation - as well as funding - of refugee centers for children who are victims of sexual abuse and violence.
“If I am given a chance to serve as a senator in 2025, you can rest assured I will be your bridge in championing the welfare of our women and children,” he said Sunday afternoon at a program in Oroquieta City, as the Misamis Occidental Provincial Government marked its 95th anniversary with a campaign to end violence against women and children.
Earlier, Lacson assisted Misamis Occidental Governor Henry S. Oaminal in the blessing and formal opening of a refugee center building in Aloran that houses at least 18 children who were victims of sexual abuse and violence. He noted the children—the youngest of whom is six years old—are provided with care and psychological treatment, formal education, and legal assistance to ensure the conviction of the offenders. “(It was really) heartwrenching and heartwarming at the same time,” is how Lacson described his experience.
“My heart goes out to the victims who I saw in the refugee center, even as I laud the initiative
and efforts of Gov. Oaminal and the provincial government in collaboration with the entire government machinery in the province like the prosecutor’s office, judiciary, Department of Education, Department of Social Welfare and Development to make this laudable program a reality in spite of initial challenges owing to the influence, wealth and power of some offenders and the hopeless and resigned attitude of the poor victims,” he said. Lacson added: “I think it is worth trying to institutionalize by way of supporting this kind of endeavor in all LGUs in all 82 provinces in the entire country, with the assistance of the national government,” he added. Lacson said he shared the provincial government’s vision to protect the welfare of the “sectors that touch the softest parts of our hearts,” even during his days as a law enforcer when he witnessed “the worst of humanity” - or crimes against women and children. As a budget watchdog in the Senate, Lacson pushed institutional amendments that transferred questionable allocations to programs for the protection of women and children. Lacson likewise also conveyed his commitment to the principles that have guided him as a Public servant:”As I have consistently upheld in all of my personal and professional life, my credo remains: Ang tama ay ipaglaban, ang mali ay labanan (What is right must be kept right, what is wrong must be set right),” he added. Butch Fernandez
DMW prods overstayers in UAE: Apply for amnesty
THE Department of Migrant Workers (DMW) urged overstaying overseas Filipino workers (OFW) to avail themselves of the extended amnesty program of the United Arab Emirates (UAE) for migrant workers.
DMW Secretary Hans J. Cacdac welcomed the initiative since it will allow more OFWs to come home from UAE without penalties or regularize their status in UAE. He said the extension of two months was announced also in conjunction with UAE’s celebration of the 53rd Union Day.
“Filipinos who are covered by the amnesty are encouraged to
Comelec: BARMM poll preps go on while ‘reset’ bill pends
By Justine Xyrah Garcia
THE Commission on Elections announced on Monday that it will continue its preparations for the first parliamentary elections scheduled for next year, despite a push by Congress to defer the electoral process.
In a text message, Comelec Chairman George Erwin M. Garcia told reporters that the commission remains committed to conducting all election-related activities in a timely manner.
“A bill is not yet a law. So we will proceed with all the activities in relation to election preparation for the [Bangsamoro Region in Muslim Mindanao]. However, as in the past, we will defer to the wisdom of the legislature on this matter,” Garcia said.
The call for postponement was spurred by Senate President Francis “Chiz” G. Escudero, who filed a proposal to delay the BARMM elections until 2026.
Escudero highlighted several logistical and legal issues surrounding the current electoral setup, particularly in light of the recent Supreme Court ruling, which surprised many, excluding Sulu province from the BARMM framework.
With its exit, the senator said that the question of how parliamentary seats should be reallocated should be thoroughly examined.
“Kailangan lahat ‘yun pagpasyahan at kailangan ng kaunting panahon para magawa at maisaayos dahil importante at dahil bahagi ng peace talks ay konsultasyon sa mga stakeholders d’yan sa BARMM,” he said.
The BARMM parliamentary polls is intended to be a landmark event, marking the region’s first legislative assembly since the BARMM’s establishment under the Bangsamoro Organic Law.
Originally slated for 2022, the election was rescheduled to 2025 due to the disruptions caused by the Covic-19 pandemic in the region’s projects.
However, with Escudero’s current proposal, the timeline for the parliamentary elections could be further extended.
For its part, the Comelec is actively preparing for the election, with the ongoing filing of certificates of candidacy (COC) scheduled to conclude on November 9.
By the end of the first day of filing, the commission reported that there were 12 aspirants for parliamentary district seats and one candidate representing a regional political party had officially filed their intent to join the parliament race.
Garcia said that Comelec has a contingency plan should Congress ultimately decide to delay
CA denies GMA execs’ push for libel vs ABS over ‘pirated’ video
subscription contract.
Tthe elections, a decision he noted the commission will respect.
In this regard, the poll chief said that if the parliamentary polls will be held independently of the national elections, the shift could increase election costs, with estimates reaching P3 billion for an automated setup or P1 billion if the process reverts to a manual system.
avail of the program,” he said. Last Sunday, the Philippine Consulate General in Dubai announced that the amnesty program, which was supposed to end on 31 October 2024 has been extended to 31 December 2024. DMW earlier reported 483 OFWs have availed of the UAE amnesty program, which was launched in September. However, the Philippine Consulate General in Dubai, the OFWs, who applied for the amnesty could be as high as over 700. The United Arab Emirates (UAE) is one of the top destination markets of OFWs. Samuel P. Medenilla
By Joel R. San Juan @jrsanjuan1573
HE Court of Appeals (CA) has denied the plea television network GMA Network Inc. executives to hold several former and current talents and executives of rival network ABS-CBN Broadcasting Corp. for libel in connection with their accusation that the former pirated the video footage exclusively taken by the ABS crew during the arrival at the airport of kidnapped overseas Filipino worker Angelo Dela Cruz in 2004.
In a 37-page ruling penned by Associate Justice Eduardo Ramos, Jr., the CA’s Third Division affirmed the orders issued by the Regional Trial Court of Quezon City on February 10, 2022 and March 28, 2022 which granted the demurrer to evidence filed by Erwin Tulfo, Eugenio Lopez III, Lynda Jumilla, Luchi Cruz-Valdes, Beth Frondoso, Maria Progena Estonilo Reyes, Annie Eugenio, Dondi Garcia, Luis Alejandro, Jose Ramon Olives, Jesus Jake Maderazo, Jose Magsaysay Jr., and Alfonso “Pal” Marquez seeking the dismissal of the libel complaint.
The libel complaint was filed by GMA Executives Felipe Gozon, Gilberto Duavit, Jr., Marissa Flores, Grace Dela Peña Reyes, and John Oliver Manalastas.
GMA filed the complaint after it was accused by ABS-CBN of stealing and airing its live feed of the arrival of Iraqi captive Angelo dela Cruz at the Ninoy Aquino International Airport in July 2004.
GMA denied the accusation and argued that the feed came from Reuters Television Service (Reuters) with whom GMA had a video
In dismissing the complaint, the trial court held that the element of identification was not established because there were no references that connected the statements to any of GMA’s officers in their personal capacity.
This prompted the petitioners to elevate the case before the CA.
However, CA agreed with the RTC that the GMA executives were not personally defamed by the statements of the ABS-CBN anchors.
“In the present case, there is no question that Gozon, et al. were not referred to in the purported libelous statements of Tulfo and Jumilla aired on ABS-CBN. Only GMA was referred to in those statements,” the CA ruled.
“Pursuant to the doctrine of separate juridical personality, a corporation has a legal personality separate and distinct from that of people comprising it” it added.
The appellate court added that the petition filed by Gozon et al., would violate the constitutional protection of the respondents against double jeopardy, if granted.
“Thus, even assuming that public respondent (QC RTC Branch 104 Presiding Judge Catherine Manodon) incorrectly appreciated the evidence before it, she only committed an error of judgment, and not one of jurisdiction, which could not be rectified by a petition for certiorari because double jeopardy had already set in when public respondent acquitted Tulfo, et al.,” the CA noted.
Double jeopardy is a legal principle that an accused cannot be tried twice for the same offense based on the same conduct. Its purpose is to protect the accused from harassment, oppression, and abuse of power by the state.
PHL thanks Malaysia for deploying choppers
PRESIDENT Ferdinand Marcos Jr. thanked the Malaysian government on Monday after it deployed choppers to assist in relief efforts in areas devastated by Severe Tropical Storm (STS) “Kristine” (international name: Trami) and Super Typhoon (ST) “Leon” (international name: Kong-Rey).
In a brief statement, the Presidential Communications Office (PCO) said Marcos called Malaysian Prime Minister Anwar Ibrahim to express his gratitude over the gesture.
Malaysia sent Eurocopter EC-725, which “played a vital role in delivering urgently needed relief to flood-ravaged and isolated communities.”
Marcos said he appreciated the “critical support” of Malaysia in the disaster response.
“The air support they provided allowed us to reach areas that are still struggling with severe flooding, bringing relief to families who otherwise couldn’t be reached,” Marcos said in a social media post.
“In this time of mourning the lives lost, it is
also heartening to see how our friends in Asean have responded with support in our time of need. This kind of solidarity is what strengthens our region,” he added.
For his part, Prime Minister Anwar “reaffirmed Malaysia’s commitment to assisting the Philippines during times of crisis.”
Last month, Department of National Defense (DND) Secretary Gilberto Eduardo C. Teodoro, Jr. announced they will seek help from Singapore, Brunei, Indonesia, and Malaysia to augment the government airlift capabilities in bringing relief in disaster-hit areas.
Both STS Kristine and ST Leon reportedly caused heavy floods and landslides, which killed 151 people and injured 134, according to latest National Disaster Risk Reduction and Management Council (NDRRMC) data.
The two weather disturbances also affected over 8.6 million people, and caused damage to infrastructure worth around P8 billion and to agriculture worth over P5.9 billion. Samuel P. Medenilla
C. MELCHERS GMBH & CO. U-19c 19/f Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, City Of Makati
11. KOLBE, STEFAN General Manager
Brief Job Description: Supervising operations and overseeing daily activities.
CAPGEMINI PHILIPPINES CORP. 12f, Ten West Campus Bldg., Le Grand Avenue, Mckinley West, Fort Bonifacio, City Of Taguig
12. MISHRA, SUMIT KUMAR Senior Consultant
Brief Job Description: Responsible for engaging with clients to understand and finalize business requirements and for conducting workshops with product and development teams to ensure clear understanding and alignment.
CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 21st Floor Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig
13. CHEN, LIANG Chinese Speaking Cabling Infrastructure Technician
Brief Job
CHINESE INTERNATIONAL SCHOOL MANILA, INC.
Upper Mckinley Road, Mckinley Hill, Pinagsama, City Of Taguig
14. XIE, RONGRONG Modern Languages Coordinator Brief Job Description: Delivering language teaching convening language and supporting language teaching within the school of modern language, literature and culture.
44.
45. ZHANG,
Brief
46. ZHANG, YING Chief
Brief
47. ZHANG, YUEJIAN Chief Marketing Officer
Brief Job Description: To develop and implement comprehensive marketing strategies with company objectives to achieve revenue growth.
48. XU, JIAXIN Financial Consultant
Brief Job Description: Answers financial questions and addresses concerns.
49. GONG, JINHE International Consultant
Brief
50. TIAN, JUNHUIZI International Consultant
Brief Job Description: Provide a single point of
51. CHEN, SHUIYING Management Consultant
Brief
52. WU, TONG Management Consultant
Brief Job Description: Implement recommendations or solutions and ensure the client receives the necessary assistance to carry it all out.
53. CUI, XIA Marketing Executive
Brief Job Description: Promotes services and products for coordinating marketing campaigns and conducting product research. Basic Qualification:
54. ZHAO, FENGJUAN Marketing Executive
Brief Job Description: Promotes services and products for coordinating marketing campaigns and conducting product research.
55. ZHAO, YANZHEN Marketing Personnel
Brief Job Description: Contribute to the implementation of all marketing strategies and activities within the company.
Basic Qualification: Bachelor’s Degree in any related field. Excellent verbal and written communication skills.
107 T & D House, Magallanes St. 069, Barangay 655, Intramuros, City Of Manila
56. FANG, ZHAOXIN Strategic
Brief
84.
BusinessMirror
85.
Brief
86. SHEN, XIANFA Mandarin Sales Manager
Brief Job Description: The Mandarin Sales Manager will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.
87. LI, CHUNLIANG Mandarin Site Supervisor
Brief Job Description: The Mandarin Site Supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing
PARAÑAQUE ONLINE PALENGKE INC.
305 Mtf Building, Dr. A Santos Ave., San Isidro, City Of Parañaque
88. LI, XIANG Sales And Marketing Assistant
Brief Job Description: Assist in organizing and coordinating trade.
Basic Qualification: Proven experience as Mandarin Sales Manager. Excellent communication, interpersonal and presentation skills.
Salary Range: Php 30,000 - Php 59,999
the organization’s compliance with laws and regulations.
PH FIMEDIA NETWORK TRADE CORP.
Penthouse Cocolight Building, 39th Street Cor. 11th Ave., Bonifacio
Taguig
90. AN, WENXUAN Livestream Assistant Manager
Brief Job Description: Coordinating marketing strategies with the sales, financial, public relations, and production departments.
91. HE, LINYU Livestream Assistant Manager
Brief Job Description: Coordinating marketing strategies with the sales, financial, public relations, and production departments.
92. YANG, XIAO Livestream Assistant Manager
Brief Job Description: Coordinating marketing strategies with the sales, financial, public relations, and production departments.
PMFTC INC. Plant C & D, Champaca Ii, Fortune, City Of Marikina
93. HERMINWI Director Commercial Operations
Brief Job Description: Ensure that agreed sales volumes and financial targets are achieved for PM Products. Set clear objectives and deliver results that are consistent with goals.
Qualification:
Basic Qualification: Have excellent verbal and written communication skills and able to organize their work using tools.
Salary Range: Php 30,000 - Php 59,999
Basic Qualification: Bachelor’s degree in a relevant field such as marketing or business administration.
Salary Range: Php 500,000 and above
POCKETMARKET INTERNATIONAL ECOMMERCE CORP. Unit N 8th Floor Cyber One Plaza Bldg, Eastwood City Cyberpark Libis, Bagumbayan, Quezon City
94. HO, VI CHI Sales And Marketing Agent
Brief Job Description:
128. TCHUIMO NEMADEU, DONARD
129. WIYSENYUY, LARISSA DZESINYUY French Operations CSR V
133. MANDAL, PRASENJIT Instrumentation Inspection And Assessment Manager
Brief Job Description: Planning preventive maintenance and annual maintenance.
TIANJIN CUISINE GROUP INC. #250, Urban Ave., Pio Del Pilar, City Of Makati
134. WANG, HENGGAO Chinese Chef
Brief Job Description: Responsible for overseeing the production of Chinese cuisine for restaurants and banquets.
135. WANG, JINLI Chinese Chef
Brief Job Description: Responsible for overseeing the production of Chinese cuisine for restaurants and banquets.
TRANS-CARRIER MARINE SERVICES, INC. Suite 903 Ermita Ctr. Bldg., 1350 Roxas Blvd., 072, Barangay 668, Ermita, City Of Manila
136. KOMOHARA, YU Technical Superintendent
The World
Editor: Angel R. Calso
Tuesday, November 5,
Israel conducts first public ground raid in Syria, nabs Iranian-linked operative
By Melanie Lidman & Samy Magdy
The Associated Press
JERUSALEM—The
Israeli military said Sunday it has carried out a ground raid into Syria, seizing a Syrian citizen involved in Iranian networks. It was the first time in the current war that Israel announced its troops operated in Syrian territory.
Israel has carried out airstrikes in Syria multiple times over the past year, targeting members of Lebanon’s Hezbollah and officials from Iran, the close ally of both Hezbollah and Syria. But it has not previously made public any ground forays into Syria.
The Israeli military said the seizure was part of a special operation “that took place in recent months,” though it did not say exactly when it occurred. Syria did not immediately confirm the announcement, but a progovernment Syrian radio station, Sham FM, reported Sunday that Israeli forces carried out a “kidnapping operation” over the summer targeting a man in the south of the country.
Israel has waged an escalating campaign of bombardment in Lebanon for the past six weeks, as well as a ground invasion along the countries’ shared border, vowing to cripple Hezbollah. On Saturday, an Israeli military official said naval forces carried out a raid in a northern Lebanese town, seizing a man they called a senior Hezbollah operative.
The army identified the man as Ali Soleiman al-Assi, saying he lives in the southern Syrian region of Saida. It said the man had been under military surveillance for many months and was involved in Iranian initiatives targeting areas of the Israeliannexed Golan Heights near the border with Syria.
Body camera video of the raid released by the army showed soldiers seizing a man in a white tank top inside a building. The man was brought to Israel for interrogation, the military said.
Israeli Prime Minister Benjamin Netanyahu visited the border with Lebanon on Sunday, saying his focus was trying to keep Hezbollah from rearming itself through the “oxygen lifeline” of Iranian weapons transferred to Lebanon via Syria. Israel says its campaign in Lebanon aims to push Hezbollah away from the border and put an end to more than a year of fire by the group into northern Israel.
Israel’s strikes in Lebanon have killed more than 2,500 people over the past year. In Israel, 69 people have been killed by Hezbollah projectiles.
On the US presidential campaign trail this weekend, Vice President Kamala Harris acknowledged progressives and members of the state’s significant population of Arab Americans who are angry at the Biden administration for its continuation of the US alliance with Israel as the Netanyahu government presses its war against Hamas in Gaza.
“I have been very clear that the level of death of innocent Palestinians is unconscionable,” Harris told reporters. In East Lansing, Michigan,
she addressed the issue soon after beginning her remarks.
“As president I will do everything in my power to end the war in Gaza, to bring home the hostages, end the suffering in Gaza, ensure Israel is secure and ensure the Palestinian people can realize their right to freedom, dignity and selfdetermination,” she said.
Some students in East Lansing voiced their opposition Sunday with audible calls for a cease-fire in the Israel-Hamas war. At least one attendee was escorted out after the ceasefire calls.
Meanwhile, Israeli forces continued an offensive in the northern Gaza Strip, where the military has said it is battling Hamas fighters who regrouped there.
Shellfire hit Kamal Adwan Hospital in northern Gaza, injuring patients, including children, hospital director Hossam Abu Safiya said in a statement to the media. He said the shells hit the hospital’s nursery, dormitory and water tanks just after a delegation from the World Health Organization ended a visit.
Kamal Adwan and two other nearby hospitals have been hit by Israel several times during the fighting. Earlier this month, Israeli troops stormed Kamal Adwan, detaining a large number of people, including much of the staff, Abu Safiya said at the time of the raid. The military said those detained included members of Hamas, without providing evidence, and said weapons were found in the facility.
But the Israel Defense Forces in a statement denied striking Kamal Adwan on Sunday, blaming “an explosive device planted by the terrorist organizations in Gaza” for the attack.
“Attacks on civilians, including humanitarian workers, and what remains of Gaza’s civilian facilities and infrastructure must stop,” UNICEF Executive Director Catherine Russell said in a statement Saturday. “The entire Palestinian population in North Gaza, especially children, is at imminent risk of dying from disease, famine, and the ongoing bombardments.”
In southern Gaza, an Israeli strike hit a group of people gathered outside in an eastern district of Khan Younis, killing at least eight Palestinians, including four children and a woman, the territory’s Health Ministry’s emergency services said. The city’s Nasser Hospital, which received most of the bodies, confirmed the figures.
Palestinian officials said an Israeli drone strike on Saturday hit a clinic in northern Gaza where children were being vaccinated for polio, wounding six people including four children. The Israeli military denied responsibility.
Dr. Munir al-Boursh, direc -
tor general of the Gaza Health Ministry, told The Associated Press that a quadcopter struck the Sheikh Radwan clinic in Gaza City early Saturday afternoon, just a few minutes after a United Nations delegation left the facility.
UNICEF and WHO, which are jointly carrying out the polio vaccination campaign, expressed concern over the reported strike. Rosalia Bollen, a spokesperson for UNICEF, said the strike occurred when a “humanitarian pause” agreed to by Israel to allow vaccinations was in effect.
Lt. Col. Nadav Shoshani, an Israeli military spokesperson, said that “contrary to the claims, an initial review determined that the (Israeli military) did not strike in the area at the specified time.”
It was not possible to resolve the conflicting accounts. Israeli forces have repeatedly raided hospitals in Gaza over the course of the war, saying Hamas uses them for militant purposes, allegations denied by Palestinian health officials. Hamas fighters are also operating in the north, battling Israeli forces.
Northern Gaza has been encircled by Israeli forces and largely isolated for the past year. Israel has been carrying out another offensive there in recent weeks that has killed hundreds of people and displaced tens of thousands.
A scaled-down campaign to administer a second dose of the polio vaccine began Saturday in parts of northern Gaza. It had been postponed from October 23 due to lack of access, Israeli bombings and mass evacuation orders, and the lack of assurances for humanitarian pauses, a U.N. statement said. Administration of the first doses was carried out in September across the Gaza Strip, including the north.
At least 100,000 people have been forced to evacuate from areas of north Gaza toward Gaza City in the past few weeks, but around 15,000 children under the age of 10 remain in northern towns, including Jabaliya, Beit Lahiya and Beit Hanoun, which are inaccessible, according to the UN.
The final phase of the polio vaccination campaign had aimed to reach an estimated 119,000 children in the north with a second dose of the oral polio vaccine, the agencies said, but “achieving this target is now unlikely due to access constraints.”
They say 90 percent of children in every community must be vaccinated to prevent the spread of the disease. The campaign was launched after the first polio case was reported in Gaza in 25 years— a 10-month-old boy, now paralyzed in the leg. The World Health Organization said the presence of a paralysis case indicates there could be hundreds more who have been infected but aren’t showing symptoms.
The war began on October 7, 2023, when Hamas-led militants stormed into southern Israel, killing some 1,200 people, mostly civilians, and abducting another 250. Israel’s offensive has killed over 43,000 Palestinians, according to Gaza health authorities, who do not say how many were combatants but say more than half were women and children.
Magdy reported from Cairo.
UAE vows to boost energy output amid falling prices and political uncertainty
By Jon Gambrell The Associated Press
ABU DHABI, United Arab Emirates—The United Arab Emirates opened its annual oil-and-gas summit on Monday as it pledged to increase the country’s energy output even as global prices have fallen and world politics remain uncertain ahead of the US presidential election.
The massive Abu Dhabi International Petroleum Exhibition and Conference comes after the UAE just last year hosted the United Nations COP28 climate talks. Those talks ended with a call by nearly 200 countries to move away from planet-warming fossil fuels—the first time the conference made that crucial pledge.
But the UAE as a whole still plans to increase its production capacity of oil to 5 million barrels a day in the coming years as it pursues more cleaner energies at home. Meanwhile, UAE officials have made a point to dodge any questions about the US election while maintaining their close ties to Russia despite Moscow’s war on Ukraine.
“Allow me to say that we in the United Arab Emirates will always choose partnership over polarization, dialogue over division and peace over provocation,” said Sultan al-Jaber, who heads the state-run Abu Dhabi National Oil Co. and who also led the COP28 talks in Dubai.
Crude oil prices have been depressed this year. Benchmark Brent crude traded around $74 a barrel on Monday as prices have dropped after concerns over the ongoing Mideast wars growing into a regional conflict faded in recent days.
But slowing economic growth in China and ample supply in the market are additionally dragging down prices.
In his speech opening the summit, al-Jaber pointed to artificial intelligence as a future technology that could be deployed by the energy industry—and one with a voracious appetite for electricity.
“No single source of energy is going to be enough to meet this demand,” he said. He called for a variety of energy sources to meet that challenge, including fossil fuels.
“Oil will continue to be used for fuel and as a building block for many essential products,” al-Jaber added.
Scientists have called for drastically slashing the world’s emissions by nearly half in the coming years to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) compared with pre-industrial times.
Suhail al-Mazrouei, the Emirates’ minister of energy and infrastructure, separately stressed that “investments in the oil and gas need to be taken care of” to support demand in the market.
“We are committed to invest in making more resources in the future to ensure the world will have adequate oil and gas resources,” he said.
Hardeep Singh Puri, India’s minister of petroleum and natural gas, separately made a point to criticize what he described as his “ideologically motivated colleagues” who sought an end to fossil fuel production.
“As we accelerate other green energy transition, we will still need affordable traditional energy, at least for two decades, if not longer,” he said.
Politics was also close at hand at the summit on Monday. Whispers among the crowd attending the opening pondered who would be better for their businesses, Vice President Kamala Harris or former President Donald Trump.
Al-Mazrouei dodged the first question by a presenter over whether his country preferred Trump or Harris.
“Of course, we will be discussing energy politics here and I (would) rather not ... talk about the election in the United States,” al-Mazrouei said. “As a political contest, we wish both candidates the best.”
The UAE maintains close ties to Russia despite Western sanctions over Moscow’s war. An announcer told the crowd where to find Russian translation for the event, while one of the main partners of the summit was Lukoil, Russia’s largest non-state oil firm.
November 5, 2024
2024
US Election Day arrives: Historic stakes, uncertain outcome, and legal battles looming
By Steve Peoples Ap National Political Writer
WASHINGTON—Election Day is upon us. In a matter of hours, the final votes in the 2024 presidential election will be cast.
In a deeply divided nation, the election is a true toss-up between Democrat Kamala Harris and Republican Donald Trump.
We know there are seven battleground states that will decide the outcome, barring a major surprise. But major questions persist about the timing of the results, the makeup of the electorate, the influx of misinformation—even the possibility of political violence. At the same time, both sides are prepared for a protracted legal battle that could complicate things further.
Here’s what to watch on the eve of Election Day 2024: History will be made either way
GIVEN all the twists and turns in recent months, it’s easy to overlook the historical significance of this election.
Harris would become the first female president in the United States’ 248-year history. She would also be the first Black woman and person of South Asian descent to hold the office. Harris and her campaign have largely played down gender and race fearing that they might alienate some supporters. But the significance of a Harris win would not be lost on historians.
A Trump victory would represent a different kind of historical accomplishment. He would become the first person convicted of a felony elected to the US presidency, having been convicted of 34 felony counts in a New York hush-money case little more than five months ago.
Trump, who is still facing felony charges in at least two separate criminal cases, argued that he is the victim of a politicized justice system. And tens of millions of voters apparently believe him—or they’re willing to overlook his extraordinary legal baggage.
How long will it take to know the winner?
ELECTION Day in the United States is now often considered election week as each state follows its own rules and practices for counting ballots—not to mention the legal challenges—that can delay the results. But the truth is, nobody knows how long it will take for the winner to be announced this time.
In 2020, The Associated Press declared President Joe Biden the winner on Saturday afternoon—four days after polls closed. But even then, The AP called North Carolina for Trump 10 days after Election Day and Georgia for Biden 16 days later after hand recounts.
Four years earlier, the 2016 election was decided just hours after most polls closed. The AP declared Trump the winner on election night at 2:29 a.m. (it was technically Wednesday morning on the East Coast).
This time, both campaigns believe the race is extremely close across the seven swing states that are expected to decide the election, barring a major surprise: Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin.
The size of the map and the tightness of the race make it hard to predict when a winner could be declared.
Where can I find early clues about how the contest might unfold?
LOOK to two East Coast battleground states, North Carolina and Georgia, where the results could come in relatively quickly. That doesn’t mean we’ll get the final results in those states quickly if the returns are close, but they are the first swing states that might offer a sense of what kind of night we’re in for.
To go deeper, look to urban and suburban areas in the industrial North and Southeast, where Democrats have made gains since 2020.
In North Carolina, Harris’ margins in Wake and Mecklenburg Counties, home to the state capital of Raleigh and the state’s largest city, Charlotte, respectively, will reveal how much Trump will need to squeeze out of the less-populated rural areas he has dominated.
In Pennsylvania, Harris needs heavy turnout in deep blue Philadelphia, but she’s also looking to boost the Democrats’ advantage in the arc of suburban counties to the north and west of the city. She has campaigned aggressively in Bucks, Chester, Delaware and Montgomery counties, where Biden improved on Clinton’s 2016 winning margins. The Philadelphia metro area, including the four collar counties, accounts for 43 percent of Pennsylvania’s vote.
Elsewhere in the Blue Wall, Trump needs to blunt Democratic growth in Michigan’s key suburban counties outside of Detroit, especially Oakland County. He faces the same challenge in Wisconsin’s Waukesha County outside of Milwaukee.
Where are the candidates?
TRUMP will likely spend the very early hours of Election Day in Michigan, where he is scheduled to hold a final late-night rally in Grand Rapids as has become his tradition.
The Republican candidate plans to spend the rest of the day in Florida, where he is expected to vote in person—despite previously saying he would vote early. He’s scheduled to hold a campaign watch party in Palm Beach Tuesday night.
Harris plans to attend an Election Night party at Howard University in Washington, a historically Black university where she graduated with a degree in economics and political science in 1986 and was an active member of Alpha Kappa Alpha sorority.
Aside from Howard, she has no public schedule announced for Election Day.
Harris said Sunday that she had “just filled out” her mail-in ballot and it was “on its way to California.”
Who’s left to show up on Election Day?
ON the eve of Election Day, it’s unclear which voters will show up to cast ballots on Tuesday.
More than 77 million people participated in early voting—either in person or through the mail. So many people already cast ballots that some officials say the polls in states like Georgia might be a “ghost town” on Election Day.
One major reason for the surge is that Trump has generally encouraged his supporters to vote early this time, a reversal from 2020 when he called on Republicans to vote only in-person on Election Day. The early vote numbers confirm that millions of Republicans have heeded Trump’s call in recent weeks.
The key question, however, is whether the surge of Republicans who voted early this time will ultimately cannibalize the number of Republicans who show up on Tuesday.
There are also shifts on the Democratic side. Four years ago, as the pandemic lingered, Democrats overwhelmingly cast their ballots early. But this time around, without the public health risk, it’s likely that more Continued on A15
Russia sends nearly 100 drones into Ukraine, as Zelenskyy calls for increased allied support
KYIV, Ukraine—Moscow sent 96 drones and a guided air missile into Ukraine overnight into Sunday, Ukrainian officials said.
According to Ukraine’s Air Force, 66 drones were destroyed during the overnight barrage, along with the missile. A further 27 drones were “lost” over various areas, it said, likely having been electronically jammed, while one drone flew into Belarusian airspace. No casualties were reported. Ukrainian President Volody -
myr Zelenskyy said Sunday that Russia had launched around 900 guided aerial bombs, 500 drones and 30 missiles against Ukraine over the past week.
Zelenskyy appealed Sunday on X to Ukraine’s allies to provide “long-range capabilities for our security”, saying that these “attacks would have been impossible if we had sufficient support from the world.” Kyiv is still awaiting word from its Western partners on its repeated requests to use the long-range weapons they
Japan launches defense satellite on flagship H3 rocket, bolstering military capabilities amid regional tensions
By Mari Yamaguchi
TThe Associated Press
OKYO—Japan launched a defense satellite designed for information-gathering and military operations on a new flagship H3 rocket on Monday, as the country seeks to build up its military capability amid growing tension in the region.
The H3 No. 4 rocket lifted off from the Tanegashima Space Center on a southwestern Japanese island. Everything went as planned and the satellite placed at the top of the rocket was successfully separated about half an hour after liftoff, the Japan Aerospace Exploration Agency, or JAXA, said in a livestream.
JAXA will give further details
about the launch later Monday.
The rocket is carrying a Defense Ministry satellite, Kirameki No. 3, which uses X-band communication for military operations and reconnaissance, including information gathering for signs of North Korean missile activity. X-band satellite is less affected by weather conditions and is capable of supporting stable communication. Kirameki No. 3 adds to two earlier X-band satellites already in operation.
Monday’s launch was initially planned for Oct. 20 and came after four postponements due to a technical glitch and bad weather.
The launch was the third consecutive successful flight of the H3 system after the shocking failed debut flight last year when the rocket had to be destroyed with its payload.
Japan sees a stable, commercially competitive space transport capability as key to its space program and national security.
JAXA and its main contractor, Mitsubishi Heavy Industries, have been developing the H3 launch system as a successor to its current mainstay, H-2A, which is set to retire after two more flights. MHI will eventually take over H3 production and launches from JAXA and hopes to make it commercially viable by cutting the launch cost to about half of the H-2A.
provide to hit targets on Russian soil, including for preemptive Ukrainian strikes on camps where North Korean troops are being trained. The Ukrainian President also urged partners to enact “truly effective sanctions to prevent Russia from importing critical components for drone and missile production”. This appeal followed an address on Saturday, in which he said over 2,000 drones and missiles “still using Western components” were launched against
Ukraine in October, and underlined the need for more stringent export controls to prevent sanctions evasion. In Russia, the Defense Ministry said that 19 Ukrainian drones were shot down overnight into Sunday in three regions of Russia: 16 in the Rostov region, two in the Belgorod region and one in the Volgograd region. A man died Sunday in a Ukrainian drone attack in the Belgorod region, according to regional Gov. Vyacheslav Gladkov. AP
Volcanic eruption in Indonesia burns houses, claims 10 lives
By Jakobus Herin The Associated Press
AUMERE, Indonesia—Indonesia’s
MNational Disaster Management Agency said Monday that at least 10 people have died as a series of volcanic eruptions widens on the remote island of Flores.
The eruption at Mount Lewotobi Laki Laki around midnight spewed thick brownish ash as high as 2,000 meters (6,500 feet) into the air and hot ashes hit several villages, burning down houses including a convent of Catholic nuns, said Firman Yosef, an official at the Mount Lewotobi Laki Laki monitoring post.
He said volcanic material was thrown up to 6 kilometers (3.7 miles) from its crater, blanketing nearby villages and towns with tons of volcanic debris and forcing residents to flee.
Rescuers were still searching for more bodies buried under collapsed houses, said Abdul Muhari, the National Disaster Management Agency’s spokesperson. Muhari said all the bodies, including a child, were found within a 4-kilometer (2.4 mile) radius of the crater.
He said at least 10,000 people have been affected by the eruption in six villages of Wulanggitang district, and four villages in Ile Bura district. Some have fled to relatives’ houses while the local government is readying schools to use as temporary shelters.
The country’s volcano monitoring agency increased the volcano’s alert status to the highest level and more than doubled the exclusion zone to a 7-kilometer (4.3-mile) radius after midnight on Monday as eruptions became more frequent.
A nun in Hokeng village died and another was missing, said Agusta Palma, the head of the Saint Gabriel Foundation that oversees convents on the majority-Catholic island.
“Our nuns ran out in panic under a rain of volcanic ash in the darkness,” Palma said. Photos and videos circulated on social media showed tons of volcanic debris covering houses up to their rooftops in villages like Hokeng, where hot volcanic material set fire to houses.
Lewotobi Laki-laki is one of a pair of stratovolcanoes in the East Flores district of East Nusa Tenggara province known locally as the husband—“Laki-laki”means man—and wife mountains. Its mate is Lewotobi Perempuan, or woman.
About 6,500 people were evacuated in January after Mount Lewotobi Laki Laki began erupting, spewing thick clouds and forcing the government to close the island’s Frans Seda Airport. No casualties or major damage were reported, but the airport has remained closed since then due to seismic activity. In a video conference on Monday, Muhammad Wafid, the head of Geology Agency at the Energy and Mineral Resources ministry said there was a different character between January’s eruption and Monday’s eruption due to a blockage of magma in the crater, which reduced detectible seismic activity while building up pressure.
“The eruptions that occurred since Friday were due to the accumulation of hidden energy,” Wafid said.
The Associated Press writers Niniek Karmini and Edna Tarigan in Jakarta contributed to this report.
Unprecedented outrage: Spanish royals face fury of flood survivors
By David Melero & Joseph Wilson
The Associated Press
PAIPORTA, Spain—A crowd of enraged survivors hurled clots of mud left by storm-spawned flooding at the Spanish royal couple on Sunday during their first visit to the center of their nation’s deadliest natural disaster in living memory.
Spain’s national broadcaster reported that the barrage included a few rocks and other objects and that two bodyguards were treated for injuries. One could be seen with a bloody wound on his forehead.
It was an unprecedented incident for a royal house that carefully crafts an image of monarchs adored by their country of more than 48 million people.
Spanish fury has been unleashed against a state that appears overwhelmed and unable to meet the needs of people used to living under an effective government.
Officials also rushed Prime Minister Pedro Sánchez from the scene soon after his contingent started to walk the mud-covered streets of one of the hardest-hit areas, where over 60 people perished and thousands of lives were shattered. The disaster fueled by climate change killed at least 205 people in eastern Spain.
“Get out! Get out!” and “Killers!” the crowd in the town of Paiporta shouted, among other insults. Bodyguards opened umbrellas to protect the royals and other officials from the tossed muck.
Police had to step in, some officers on horseback, to keep back the crowd of several dozen, some wielding shovels and poles.
Queen Letizia broke into tears sympathetically after speaking to several people, including one woman who wept in her arms.
Later, one of the queen’s bodyguards had a bloody wound on his forehead and there was a hole in the back window of the prime minister’s official car.
But even after being forced to seek protection, King Felipe VI, with flecks of mud on his face, remained calm and made several efforts to speak to individual residents. He insisted on trying to speak with people as he tried to continue his visit. He spoke to several people, patting two young men on their backs and sharing a quick embrace, with mud stains on his black raincoat.
Still, one woman smacked an official car with an umbrella and another kicked it before it sped off.
While far from awakening the passion that the British hold for their royals, Felipe and Letizia’s public events are usually greeted by crowds of fans.
The 56-year-old Felipe took the throne when his father, Juan Carlos, abdicated in 2014 after he was tarnished by self-made financial and personal scandals. Felipe immediately cut a new figure, renouncing his personal inheritance and increasing the financial transparency of his royal house. He and the 52-year-old Letizia, a former journalist, dedicate a significant part of their public
agenda to cultural and scientific causes. Visits to sites of national tragedies are also part of the royal duties for monarchs seen as a stabilizing force in a parliamentary monarchy restored following the death of dictator Francisco Franco in 1975. The king later told regional authorities at the command post of emergency response efforts that they had to give “hope to those affected by the flood and attend to their needs, guaranteeing that the state is there for them.” Public rage over the haphazard management of the crisis has been building. Felipe heard some jeers when he took part in a tribute to the dead of a deadly 2017 terror attack in Barcelona, but that was nothing comparable to Sunday’s reception.
The queen had small glops of mud on her hands and arms as she spoke to women.
“We don´t have any water,” one woman told her.
Many people still don’t have drinking water five days after the floods struck. Internet and mobile phone coverage remains patchy. Most people only got power back on Saturday. Stores and supermarkets are in ruins and Paiporta, population 30,000, still has many city blocks completely clogged with piles of detritus, countless totaled cars and a ubiquitous layer of mud.
Thousands have had their homes destroyed by a tsunami-like wave of muck and indignation at mismanagement of the disaster has begun. Wilson reported from Valencia, Spain.
A NEW flagship H3 rocket carrying a defense ministry communications satellite is launched from Tanegashima Space Center, Kagoshima prefecture, southern Japan on Monday, November 4, 2024. KYODO NEWS VIA AP
IN this image made from video released by the Russian Defense Ministry on October 31, 2024, Russian soldiers attend combat training for assault units at an undisclosed location in Ukraine.
Tuesday, November 5, 2024 A15
2024 US Election Day arrives: Historic stakes, uncertain outcome, and legal battles looming
Continued from A13
Democrats will show up in person on Election Day.
That balance on both sides is critical as we try to understand the early returns. And it’s on the campaigns to know which voters they still need to turn out on Tuesday. On that front, Democrats may have an advantage.
Trump’s campaign and the Republican National Committee have outsourced much of their get-outthe-vote operation to outside groups, including one funded largely by billionaire Trump ally Elon Musk that’s facing new questions about its practices. Harris’ campaign, by contrast, is running a more traditional operation that features more than 2,500 paid staffers and 357 offices in battleground states alone.
Could there be unrest?
TRUMP has been aggressively promoting baseless claims in recent days questioning the integrity of the election. He falsely insists that he can lose only if Democrats cheat, even as polls show that the race is a true toss-up.
Trump could again claim victory on election night regardless of the results, just as he did in 2020. Such rhetoric can have serious consequences as the nation saw when
Trump loyalists stormed the Capitol on Jan. 6, 2021 in one of the darkest days in modern American history. And unfortunately, there is still a potential of further violence this election season.
The Republican National Committee will have thousands of “election integrity” poll monitors in place on Tuesday searching for any signs of fraud, which critics fear could lead to harassment of voters or election workers. In some key voting places, officials have requested the presence of sheriff deputies in addition to bulletproof glass and panic buttons that connect poll managers to a local 911 dispatcher.
At the same time, Trump allies note that he has faced two assassination attempts in recent months that raise the possibility of further threats against him. And police in Washington and other cities are preparing for the possibility of serious Election Day unrest. As always, it’s worth noting that a broad coalition of top government and industry officials, many of them Republicans, found that the 2020 election was the “most secure” in American history.”
AP writers Tom Beaumont and Will Weissert in Washington and Jill Colvin in Grand Rapids, Michigan contributed.
PHL mineral wealth: A key to developing our own EV industry editorial
THE Philippines stands on the brink of a pivotal shift that holds the potential to not just boost the economy but also steer it towards a sustainable, environmentally friendly future. The push to leverage the country’s rich mineral resources to establish a thriving battery industry for electric vehicles (EVs) is not merely a business proposition; it’s a strategic move towards national progress and self-reliance. (Read the BusinessMirror story: “PHL has critical minerals to develop battery industry,” October 31, 2024).
Recognizing the rich potential of the Philippines, global EV battery makers have voiced their support for the development of a local battery industry. Alvin Lee, representing Chongqing Beidou Jiean Neo-Energy Technology Ltd. (BDJA), highlighted the country’s unique strengths—a substantial local market for EVs and a rich repository of critical minerals needed for battery production.
The vision extends beyond domestic consumption. The prospect of the Philippines becoming an exporter of EVs and electric tricycles holds immense promise. With the right partnerships and investments, the country has the potential to meet its own requirements while also expanding into neighboring markets, including Pakistan, Bangladesh, Sri Lanka, and India.
The recent inauguration in New Clark City, Tarlac of the StB Giga Factory, the first manufacturing plant for advanced Lithium Iron Phosphate (LFP) batteries in the country, marks a significant milestone in this journey towards self-sufficiency and innovation. Supported by StB Capital Partners, this venture is poised to create thousands of jobs and contribute to the growth of the local economy.
The abundant nickel reserves in the country highlight the vast opportunities for exploration and utilization. Places like Surigao, Palawan, Samar, and Zambales hold immense potential for nickel ore exploitation, while other areas like Camarines Norte, Quezon province, and Isabela boast known reserves waiting to be tapped.
The Board of Investments has emphasized the importance of forging strategic partnerships with firms that possess the appropriate technology. This guidance from the BOI leadership underscores the value they place on leveraging technological capabilities to drive progress and development. In a rapidly evolving industry like EVs, collaboration with tech-savvy companies becomes not just important but imperative for success.
The growing EV ecosystem in the Philippines is not just about economic gains; it is about paving the way for a greener, cleaner future. The modernization of public utility vehicles (PUVs) presents a golden opportunity to kick-start local assembly and manufacturing of EVs, driving the country towards sustainability and reduced carbon emissions.
As the world shifts towards cleaner energy sources and sustainable transportation, the Philippines has the chance to position itself as a key player in the global EV market. The country’s abundant nickel reserves, a key component in EV batteries, provide a significant competitive advantage. The strategic utilization of these resources, coupled with a forwardlooking industrial policy, can help transform the country into a regional leader in the EV sector. Successful collaboration between policymakers and industry stakeholders is crucial to realizing this potential and securing the Philippines’ prominent position in the global electric vehicle market.
BusinessMirror
T. Anthony C. Cabangon
Lourdes M. Fernandez
Jennifer A. Ng Vittorio V. Vitug
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D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa
Rolando M. Manangan
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Harris or Trump: Still big trouble ahead
VJohn Mangun
OUTSIDE THE BOX
oTErs in the United states are going to the polls today to elect their next president. I had written before that initially there will be little variance in policy regarding Us-China relations. Except that under a new Trump administration, China may be less likely to push Trump about Taiwan.
The Democratic Party has moved from an economic focus since Bill Clinton was in charge. Remember the famous “It’s the economy, stupid.” from Clinton strategist Jim Carville in 1992. That was a message to campaign workers and the voters as to what to focus on. In the current election, the economy and abortion are equal concerns for Harris supporters (68 percent) while for all voters, the economy is number one at 81 percent and abortion is important to only 51 percent. Likewise, “climate change” is on the minds of Democrats at 62 percent while all votes see it as the lowest priority at 37 percent.
But any and all economic policies come back to taxation. The Tax Foundation is an international research think tank based in the US and founded in 1937. For the Harris proposals, Tax Foundation says: “We estimate the proposed tax changes would reduce long-run GDP by 2.0 percent, wages by 1.2 percent, and reduce employment by about 786,000 full-time jobs. We find the tax policies would raise top tax rates on corporate and individual income to among the highest in the developed world, slowing economic growth and reducing competitiveness.”
For the Trump proposals, “Trump’s tax proposals would increase long-
By Tom Rees & Greg Ritchie
THE Bank of England may extinguish hopes of a shift to quicker interest-rate cuts this week after the budget reignited inflation concerns and triggered a selloff in UK bonds that evoked memories of the 2022 market meltdown.
Economists and traders expect the Monetary Policy Committee to push ahead with only the second rate cut this year on Thursday, lowering the benchmark rate by a quarter point to 4.75 percent.
However, investors will be focused on whether Governor Andrew Bailey and his colleagues provide more cautious messaging on future reductions after Chancellor Rachel Reeves announced one of the largest fiscal loosenings in decades.
The meeting of the nine-member MPC is now a high-stakes event for UK assets after markets were rattled by plans to ramp up spending and borrowing to boost investment and public services. A dramatic repricing of rate expectations has left the BOE lagging further behind the easing cycles of the Federal Reserve and the European Central Bank over the next year.
“The market will be much more focused on whether there are signs that December is clearly in play for easing or not,” said George Buckley, chief UK economist at Nomura.
“Higher growth and inflation should lead to a less dovish BOE.”
Prior to the budget, below-target inflation, and crucially a slowdown in services prices, had raised the prospect that the BOE could move to successive rate cuts in November and December. Bailey had also fanned speculation by saying the central bank could be a “bit more aggressive” if the good news on inflation continued.
But those hopes evaporated after Reeves shocked markets with her fiscal plans, which raised spending by £70 billion ($90.5 billion) a year on average. Tax rises cover little more than half the increase with the rest financed through extra borrowing —a recipe for inflation. While a BOE cut on Nov. 7 is still largely priced in, investors put the chance of another reduction in December at under 20 percent.
Reeves on Sunday sought to assure voters that she will not repeat the huge package of tax hikes, which were the largest in over 30 years. She said that she would “never need
run GDP by 0.8 percent, wages by 0.8 percent, and employment by 597,000 full-time equivalent jobs. However, the proposals would increase the 10year budget deficit by $3 trillion.” Under the Harris plan, the budget deficit would be $1 trillion less.
Good luck to the Americans trying to figure out which candidate will do the best for the economy. But one thing is certain: The US economy is in big trouble regardless of who wins. You can blindly accept the nonsense that the politicians and “experts” spew, but the truth is radically different. Consumer price increases follow the money supply, augmented or diminished by crude oil prices. The US money supply has risen for 11 straight months and has increased by 37 percent since January 2020. The only mitigating factor is that the oil price is down 39 percent since June 2022 when US inflation peaked at nine percent, a 43-year high.
I could make a long list of the economic deficiencies—from job creation (1.98 percent y-o-y in 2000/1.49 percent in 2024) to Capacity Utilization (84 percent in 1999/78 percent in 2024), but these are only symptoms of the two diseases—price inflation and interest rates or the cost-of-money.
The Federal Reserve reduction of interest rates is supposed to boost the US economy. Except, the yield on 10-year US government bonds has now risen by over 70 basis points since the Fed cut rates by 50 bps on September 18.
But even price inflation and the cost-of-money are also symptoms of the greater cancer of government debt. I was told last week that US government debt really does not matter since it is a small part of the total economy and besides, when Bitcoin becomes the universal money, all problems will be solved.
If government debt in a major developed economy “is not alarming” and needs to be taken in “economic perspective,” then respond to this. Studies have shown that for every dollar of new debt, the GDP growth might be as low as $0.40 to $0.58 but never close to $1 to $1. I am not sure how much of “A New Way Forward” the US is going to get or how “Great America is going to be Again”. But I am not seeing viable solutions that can save it economically.
E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
to do that again” and admitted that she was wrong to tell voters before the July 4 election that she would not announce new tax increases.
“I was wrong on the 11th of June,” she said on Sky News, explaining she underestimated the scale of the UK’s budget shortfall. “Just under a month after I said those words, I was taken into a room by the senior officials at the Treasury, and they set out the huge black hole in the public finances.”
With focus now turning to how officials on Threadneedle Street will react to the budget, Ales Koutny, head of international rates at Vanguard Asset Management, said even a move by the BOE next week is now in doubt, putting the odds of a cut at 50-50.
“It may now be that much of the bad news is in the price,” said Mark Dowding, RBC BlueBay Asset Management chief investment officer. “However, we struggle to build much of a bullish narrative, and we also retain a relatively downbeat assessment on the valuation of the pound.”
The fact that the rise in gilt yields last week was most pronounced in the short-end of the curve contrasted with the Truss episode, where long bonds tanked. It suggests investors are concerned about how the budget affects the outlook for BOE rates.
“Ultimately, the budget will be too big for the BOE to ignore,” said Modupe Adegbembo, an economist at Jefferies in London. The scale of the fiscal giveaway “increases the risk the BOE skips the December cut and undermines Governor Bailey’s hopes of the BOE becoming more activist with rate cuts.”
The timing of Thursday’s MPC meeting presents a major communiSee “Investors,” A17
The budget sent the pound and bonds sliding. The yield on benchmark 10-year gilts ended the week at 4.45 percent—21 basis points higher than five days earlier. It was the largest weekly rise since January. Two-year yields were up about 27 basis points on the week. The rout quickly spread to stocks and the pound, with the British currency posting its fifth straight week of decline against the dollar, the longest losing streak since 2018. Many played down parallels with the market turmoil unleashed by former premier Liz Truss’s £45 billion package of unfunded tax cuts in 2022. However, the mere comparison is unwelcome for Prime Minister Keir Starmer’s new Labour government, which swept to power in July on a pledge to end the financial and political turmoil that marked recent years under the Tories.
China’s next stimulus package is unlikely to put market fully at ease
ChInESE lawmakers are gathering in the shadow of the uS election to sign off on a fiscal package that’s set to run into the trillions of yuan yet is unlikely to put the market fully at ease.
The stakes have grown for this week’s conclave of the Standing Committee of the National People’s Congress, the executive body of the nation’s top legislature, as it’s expected to round out China’s largest effort to lift growth since the pandemic. The session in Beijing on Nov. 4-8 will probably unlock additional resources meant to take the pressure off local governments and recapitalize major state lenders, according to banks such as Goldman Sachs Group Inc. and HSBC Holdings Plc.
But with the US presidential race still tight and Chinese policymakers putting priority on the more immediate challenges facing the $18 trillion economy, it may be months before detailed plans to support consumption come into focus. Policy-setting meetings in December or March are the next key dates to watch for clues about measures to prop up consumer spending power, which will be crucial to turning around sentiment.
“They don’t want to come up with a big number and then not be able to get it done,” said Nicholas Yeo, head of China equities at abrdn. “The government is very cautious about spending.”
The lingering suspense over the pacing and targets of fiscal support will complicate investment decisions for traders already whipsawed by the volatility stalking Chinese markets since a stimulus blitz in September sought to encourage lending and offered support for the stocks and property markets.
The outcome of the US election could also force Beijing to strengthen efforts to bolster domestic demand, given the threat by Republican nominee Donald Trump to impose hefty tariffs on Chinese goods if elected.
Economists at Goldman Sachs, Macquarie Group, and Nomura Holdings Inc. predict lawmakers this week will back at least 1 trillion yuan ($140 billion) in quota of special sovereign bond issuance to replenish bank capital. They also expect approval for an increase in local government bond sales either this week or in the coming months to swap so-called hidden debt over several years, with forecasts ranging from about 6 trillion yuan to 10 trillion yuan.
Nomura anticipates the eventual scale of China’s fiscal stimulus package to reach 2 percent to 3 percent of gross domestic product annually over the next several years, with a Trump win to push its size toward the higher end.
“For us, the specific size of the stimulus package is less important than the area of focus for the package to be deployed,” said Herald van der Linde, head of Asia-Pacific equity strategy at HSBC. “Property is important to stabilize sentiment and growth. And China could focus on stimulating consumption.”
The capital injection will aim to improve the capacity of state-owned banks to extend credit as they heed the government’s call to lend more at lower interest rates to help the economy. It’s an approach that’s narrowed margins to record lows and undermined their ability to boost capital with profits.
China’s local governments have meanwhile been scaling back spending as the economic downturn and a years-long property slump erode revenues from taxes and land sales. Many are also cautious about taking on new borrowing to finance investment amid falling returns and as they scramble to comply with President Xi Jinping’s crackdown on hidden liabilities.
The debt swap program will bring local governments’ off-balancesheet borrowing onto their books, lowering the interest costs and giving the authorities more time to repay,
The Capital Markets Efficiency Promotion Act
OWith the US presidential race still tight and Chinese policymakers putting priority on the more immediate challenges facing the $18 trillion economy, it may be months before detailed plans to support consumption come into focus.
which in turn will free up resources for regions to ramp up spending.
“The NPC standing committee might provide more information on fiscal resources the government will devote to stimulus. In our view, the meeting is unlikely to increase the budget for 2024. But given the strong hints by the government on potentially stronger fiscal support, the committee is likely to give some topline figures on resources for debt resolution and support for households and companies,” said Bloomberg economists Chang Shu, Eric Zhu and David Qu.
While a swap of 1 trillion yuan may add just 2 basis points directly to GDP growth, the boost would be “larger” if some proceeds from refinancing bond issuance can be used to repay overdue wages to civil servants and arrears to businesses, according to estimates by Goldman economists including Lisheng Wang. An additional 1-2 trillion yuan in government borrowing per year may also be put in place to ease local fiscal stress, with the relevant “extra budget” to be passed by the legislators this week, Nomura economists led by Lu Ting wrote in an Oct. 28 note.
The government could announce additional spending programs worth up to 4 trillion yuan—probably financed mainly through more bond sales—at the annual full session of the NPC in March or even later to strengthen the social safety net for low-income groups, encourage childbirth, and ensure the delivery of pre-sold homes, they said.
“The old playbook that they have always used is infrastructure and real estate—but there’s a need for domestic consumption to do some of the lifting,” said Abrdn’s Yeo. “That shift has to happen at some point. That is the one thing that we want to see.”
But Beijing has been hesitant to hand out massive, direct subsidies to consumers. A main factor behind the reluctance is the potential cost of such programs in a nation of 1.4 billion people where GDP per capita is less than $13,000, or just 15 percent of that in the US, along with a greater propensity to save.
Another concern centers on the effectiveness of consumption stimulus given the lack of a proper system to identify those most in need and therefore more likely to actually spend the money.
That said, analysts broadly anticipate Beijing would open the fiscal taps to support consumption if the US slaps more tariffs on China’s exports after the election, a scenario likely to put the brakes on growth.
This week’s legislative huddle may not be the “deadline” for raising the government debt limit, according to Goldman economists. A later meeting by lawmakers around year-end and the NPC’s full session in March are also “possible windows” to watch, they said.
Investors may get a glimpse of what may be on the government’s planning board even before that.
The Politburo, made up of the ruling Communist party’s top 24 officials including Xi, usually holds a meeting with a focus on the economy in early December, days before the Central Economic Work Conference takes place to set the agenda for the coming year. With assistance from James Mayger, John Cheng, Winnie Hsu and Tania Chen / Bloomberg
atty. Mabel L. Buted
Tax Law for Business
ur tax laws are significantly evolving. Our government is trying and continuing to develop and improve our system in taxation as the tax system and tax administration play a key role in the attainment of the objectives of easing the doing of business in the country, attracting more foreign investments, increasing revenues, and reducing poverty. In this year alone, three crucial laws were enacted—republic Act 11976 (the Ease of Paying Taxes Act or EOPT), r A 12001 (the real Property Valuation and Assessment reform Act or rPVAr A), and r A 12023 (the law on value-added tax on Digital Services).
The Comprehensive Tax Reform Package Program of the government started in 2018. The CTRP Program was created to make the tax system more equitable and efficient. It consisted of four packages, three of which had already been passed.
The first package (Package 1) is the Tax Reform for Acceleration and Inclusion Law (TRAIN or RA No. 10963) that took effect on January 1, 2018. TRAIN sought to provide tax relief to individual taxpayers who are earning less by reducing the personal income tax rates applicable on their income. Package 2 is the CREATE Law (Corporate Recovery and Tax Incentives for Enterprises or RA 11534). It was signed into law in early 2021, a time when the country was in the middle of recovery from the challenges brought by the Covid-19 pandemic. The law focused on the rationalization of income tax and fiscal incentives of corporate entities to make the Philippines a more
competitive and attractive venue for foreign investments. Package 3 is, as mentioned, the RPVARA, which was recently enacted this year. The Act harmonizes the country’s system in the valuation of real properties. The last package (Package 4) is still pending enactment. This is the Passive Income and Financial Intermediary Taxation Act or PIFITA. PIFITA seeks to simplify taxation of capital income and financial services. The bill was approved by the House of Representatives on final reading in November 2022. To date, it is awaiting passage by the Senate.
Pending the enactment of PIFITA, an “alternative” bill was introduced through the Capital Markets Efficiency Promotion Act (CMEPA). CMEPA is a “smaller bill” that is easier to pass according to Senator Gatchalian (https://www.bworldonline. com/economy/2024/10/07/626343/ govt-revenue-seen-taking-hit-fromhouse-capital-reform-bill/). Similar
The Comprehensive Tax Reform Package Program of the government started in 2018. The CTRP Program was created to make the tax system more equitable and efficient. It consisted of four packages, three of which had already been passed.
to PIFITA, CMEPA aims to improve the country’s competitiveness in the capital markets.
One of the significant changes that we are expecting from CMEPA is the reduction of the stock transaction tax from 0.60 percent to 0.10 percent on sale of shares of stock listed and traded through the local stock exchange. Also, under CMEPA, cash and property dividends received by nonresident alien individuals, whether or not engaged in trade or business in the Philippines, from domestic corporations and regional operating headquarters of multinational companies will be subjected to the same tax rate of 10 percent applicable to dividends received by Filipino citizens and resident aliens. At present, dividends of nonresident aliens are subject to higher tax rates—nonresident aliens engaged in trade or business are subject to tax at 20 percent while those not engaged in trade or business are taxed at 25 percent.
Documentary stamp tax on property and fidelity insurance will be imposed in the same manner as DST is imposed on life insurance policies. Currently, life insurance policies are exempt or subject to one-time DST ranging from P20 to P200, depending on the amount of the insurance. On the other hand, insurance upon property and on fidelity bonds are
Angry crowd chases Spanish prime minister out of flooded town
By Rodrigo Orihuela & Clara Hernanz Lizarraga
ThE king and prime minister of Spain arrived at the scene of a national tragedy to a hostile crowd chanting “murderers” and hurling mud at them. As Felipe VI walked on and spoke to survivors, Pedro Sánchez instead slipped into his black car as protesters followed him shouting insults, kicking the tires and banging at his window.
The contrast between the two— one stayed, the other fled—was stark and the optics couldn’t be more damning for the Socialist leader known as one of Europe’s most cunning political survivors.
As the top institutional figures, they were visiting the devastated town of Paiporta, five days after the flash floods that killed at least 211 people in the Valencia region along the Mediterranean coast. But traveling from Madrid, 400 kilometers (248.5 miles) away, they had both misread the mood.
“Now may not have been the time” to visit, said Transport Minister Óscar Puente, speaking to broadcaster La Sexta in one of the first statements by a government official. “There is a feeling of abandonment, of help that hasn’t arrived for many days.”
Anger had been building about why the authorities had been so slow to react to the disaster as regional and central governments—from opposite sides of the ideological spectrum—gave conflicting accounts over the timing of the alerts.
As the bickering continued and the death toll climbed, thousands of volunteers stepped up where the state failed. Meanwhile apocalyptic footage of the aftermath of the torrential rains—homes submerged, cars piled on top of each other, streets strewn with debris—sat uneasily
Investors.
. . Continued from A16
cations challenge for Bailey, coming a week after the budget and only a few days after the US election.
The BOE is expected to provide its initial assessment of how the budget
with Spain’s modern image as one of the continent’s best-performing economies.
One particularly unfortunate turn of phrase by Sanchez is doing the rounds on social media sites: If the Valencia government needs anything, he said, “what it needs to do is ask.” It was directed to Valencia’s regional president, Carlos Mazón, at a news conference on Saturday when the prime minister announced the largest peacetime deployment of troops following criticism of the response to one of the deadliest floods in Europe this century.
But in the worst hit places, such as Paiporta and neighboring Alfafar, it smacked of political score settling in a broader blame game. It was also seen as too little, too late after residents were trapped alone for days without water or electricity, with mud oozing on streets and inside houses while they waited helplessly for emergency services.
The crisis puts both the toxicity of Spanish politics and its fragile system of decentralized power in the spotlight and exposes the consequences of the dysfunction at the heart of government.
Valencia is where those longsimmering tensions came to a head and the prime minister now finds himself—not for the first time—in political danger.
affects its projections. However, it is unclear whether the measures came soon enough to be incorporated into the BOE’s new growth and inflation forecasts that will accompany the rates decision.
The Office for Budget Responsibility’s verdict suggested that the budget policies added 0.4 percent-
subject to DST at P0.50 for each P4 of the premium charged. If CMEPA is passed into law, similar with life insurance, property insurance, and fidelity policies worth less than P100,000 would be exempted from DST while those worth more than P1 million will enjoy maximum rate of P200.
Further, in CMEPA, winnings from Philippine Charity Sweepstakes Office (PCSO) and lotto above P10,000 will be taxed at lower 10 percent rate from the present 20 percent. PCSO and lotto winnings not exceeding P10,000 would continue to be exempt from income tax. DST on horse race tickets or PCSO lottery tickets will be reduced from 20 percent to 10 percent. There are other pending tax legislations. One of them is the CREATE MORE bill, which I discussed in my previous article. Others are the Taxpayer’s Bill of Rights and Obligations Act (SB No. 1806) and Single-Use Plastic Bags Tax Act (SB No. 1844). With all these significant developments, it is critical for taxpayers to be informed so they can timely adjust and assess the implications to their businesses and obligations. Stay tuned for more updates.
The author is a junior partner of Du-Baladad and Associates Law Offices (BDB Law) (www. bdblaw.com.ph), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at mabel.buted@ bdblaw.com.ph or call 8403-2001 local 160.
A year ago, when Sánchez called snap elections, his party suffered a blow by losing to the conservative opposition in the region it had historically controlled. Ultimately, Sánchez clung to power nationally by striking a controversial amnesty deal with Catalan separatists. He’s not had an easy year, and flirted with the idea of resigning after his wife was accused of peddling influence.
When disaster struck in Valencia, Sánchez could have declared a state of emergency, which would have given him control over the rescue efforts and taken it from Mazón. But he chose not to. He had made use of them during the Covid pandemic only to see judges rule that he exceeded his power. It’s a rarely used tool and is politically loaded.
In the US, hurricanes in Republican states such as Florida often require help from federal government and a partisan fight on relief often follows. In Spain, the antipathy between parties was similarly laid bare after a year’s worth of rain fell in a single day.
The embattled prime minister cannot afford to lose the support of pro-independence lawmakers and the only example in modern Spanish history of Madrid overtly intervening in an autonomous region was when Catalonia tried to break away in 2017 and it was briefly put under oversight of the central government.
Not since 1962 had so many people died from floods in Spain, and the death toll—expected to keep rising—is already higher than the 193 killed in the 2004 train bombings by terrorists in Madrid.
“Politicians have to realize that their management is disastrous, no matter which party they belong to,” said Alfonso Tarazona, a local of Pai-
age points to inflation at the peak impact in 2026. That is expected to bear down on living standards, which are predicted to only improve slightly from the last parliamentary term when they grew by the weakest on record.
porta who was on the street cleaning during the official visit.
Although Sánchez and Mazón have gone out of their way to avoid criticizing each other publicly, it’s clear that their communication privately has been dismal. That much was made clear by the way the Valencia government requested support from the armed forces, first in small quantities of soldiers over three days and then 5,000 all at once Saturday. Alberto Núñez Feijóo, head of the People’s Party to which Mazón belongs, has publicly said it’s time to cooperate and not blame others. But he also specifically pointed his finger at the national government for the delayed alerts on October 29. Since the morning of October 30, when people started to take stock of the previous night’s storm, thousands of homes have been wrecked and thousands of people continue to be missing. Yet leaders seemed to be clueless about the ire they were about to face.
Rescuers on November 1 were still pulling bodies from the mud in Paiporta, population 27,000. An endless stream of volunteers from Valencia, caked in mud head to toe, walked 10 kilometers back home at sunset along the side of the highway. By the time Sánchez and Felipe showed up 24 hours later, the townspeople had run out patience. The police, on foot and horse, swiftly moved to shield the VIPs. Sánchez was whisked away by his security detail. The monarch, dripping mud, went up to a group of protesters who had called them shameless and engaged them in conversation. He, at least, was seen as having somewhat redeemed himself.
Bloomberg
“All the market moves that have happened recently won’t have come into the Monetary Policy Report, which is also a bit of an issue in terms of how you position the messaging,” said Andrew Goodwin, chief UK economist at Oxford Economics. “It is probably the worst timing they could possibly have, to be honest. There are so many moving parts.” With assistance from James Hirai / Bloomberg
By Andrea E. San Juan @andreasanjuan
AHEAD of the change in the leadership in the United States, Center for Strategic and International Studies (CSIS), a US-based think tank has laid out its recommendations for the governments of both the US and the Philippines in order to strengthen the economic ties between the two nations.
The US-based think tank released a study on October 31 on its website after it pointed out that the “quantitative and qualitative impacts” of the economic relationship are “poorly understood.”
“The size and scope of USPhilippine economic cooperation is well documented; however, the quantitative and qualitative impacts on the Philippines are poorly understood,” the study conducted by Japhet Quitzon, Research Associate, Southeast Asia Program, CSIS and Gregory B. Poling Senior Fellow and Director of the Southeast Asia Program and Asia Maritime Transparency Initiative, CSIS noted.
The researchers explained that without “comprehensive, accurate, and easily accessible” data on US invest-
ments and their effects in the Philippines, “malign actors may promote false or harmful narratives, thereby weakening public support for the USPhilippines alliance,” the study noted.
The study titled, “US Investment In the Philippines: More Than Meets the Eye,” laid on the table the think tank’s recommendations to realize the impact of US investments into the Philippines.
Among the proposals: the US should work on diversifying the span of its investments throughout the Philippines.
“Expanding investment projects into emerging regions—from Iloilo and Cebu in the central Philippines to Davao and its surroundings in the south-would offer excellent opportunities for Filipinos,” the CSIS study said.
The research paper noted that the expansion of the IT and Business Process Management (IT-BPM) sector throughout the Philippines helped to “more evenly distribute” work away from Manila, leading to the development and “revitalization” of other urban hubs.
Quitzon, one of the authors, emphasized that most investments are “funneled into Metro Manila and its surrounding areas,” adding, “But we
Fadullon, veteran from the
ranks, new prosecutor general
By Joel R. San Juan @jrsanjuan1573
HE Department of Justice
T(DOJ) yesterday announced the appointment of homegrown prosecutor Richard Anthony Donayre Fadullon as the new Prosecutor General, replacing former Prosecutor General Benedicto Malcontento, who resigned on October 16, 2024.
In a statament, Justice Secretary Jesus Crispin Remulla expressed full confidence that Fadullon will adhere to the rule of law with “tenacious resolve and ensure justice for all.”
Fadullon’s appointment was signed by Executive Secretary Lucas P. Bersamin on October 30.
As Prosecutor General, Fadullon heads the National Prosecution Service (NPS).
His appointment, according to
Malacañang, was in line with the “unwavering efforts of the present administration under the Bagong Pilipinas brand of governance to continuously advance the criminal justice system.”
Fadullon is a seasoned prosecutor who has served the DOJ for 30 years, starting his career as Prosecutor II (State Prosecutor I) on April 6, 1994.
Prior to his appointment as Prosecutor General, Fadullon was assigned as Senior Deputy State Prosecutor (SDSP) for several years.
Fadullon finished his Law degree in San Beda College in 1987.
“I am extremely confident in your skill, experience and resolve that you are the perfect fit for the title of Prosecutor General capable of upholding the rule of law with fearlessness and utmost integrity,” Remulla told Fadullon.
felt like that limits the scope.”
He added: “There are so many different urban centers within the Philippines that are just as deserving of investments.” The “opportunity is ripe” for US businesses to scout new areas for collaboration in the country.
Meanwhile, following two consecutive trade missions of US businesses in the Philippines, the CSIS noted that the US’ “personto-person exchanges” with the Philippines should remain consistent regardless of administration.
“The 2024 Presidential Trade and Investment Mission was successful in bringing representatives from 22 US businesses to the Philippines. Similarly, the 2023 Agricultural Technology Trade Mission to Mindanao brought together key stakeholders from the private sector and government to brainstorm future opportunities for improving the Philippines’ agricultural supply chain,” the study noted.
“Both recent US government-led trade missions were the first of their kind. The United States, regardless of administration, should ensure the continuation of such exchanges,” the research noted.
For the Philippines, the authors proposed that the Philippine Eco -
nomic Zone Authority (PEZA) and the Philippine Statistics Authority (PSA) “better aggregate incoming investments into the Philippines’ many economic zones and investment promotion agencies within unified charts, demonstrating aggregate total investments from specific countries in specific sectors.”
“Remember how I told you there are over 400 different special economic zones and 19 Investment Promotion authorities? They all collect their data in very different ways,” said Quitzon.
He noted that finding a way to create a comprehensive database of US investments and US-Philippine cooperation using the same unit of measure located in the same place “would go a long way in showing what the two countries have achieved together.”
According to the CSIS study, between 2013 and the first quarter of 2024, the Philippine Statistics Authority (PSA) recorded the US as the fifth-largest source of approved foreign investment, accounting for 7 percent or roughly $3.6 billion.
Moreover, the US remains a top export destination for the Philippines.
The 2024 United States presidential election will be held on November 5, 2024.
was raised by 15 percent in a one-time adjustment to cover the rising prices of products and services required for entertainment,
contributions, flowers, and wreaths. This will cover expenses related to official functions for diplomatic engagement.
Moreover, Education Allowance (EA) granted to school-aged children of personnel assigned overseas enrolled in primary to high school levels has also been adjusted, benefiting dependents up to the age of 18.
The allowances are part of the System of Allowances for the Foreign Service Personnel (FSP) under Republic Act (RA) No. 7157 or the Philippine
“It is imperative that we continue to support those who serve on the front lines of our diplomatic efforts. This development will surely help boost their morale and enable our foreign service personnel to carry out their duties with greater focus and dedication, especially since it has been a
The EO
By Malou Talosig-Bartolome @maloutalosig
IT’S Day 7 since the devastating flood swept Valencia, Spain and the sight of cars atop one another from the window of her flat does not offer much solace.
“I’m Bicolana. I’m used to flooding, to typhoons in the Philippines. But I didn’t expect this level of catastrophe in Spain,” Ma. Cherishsa Lou Magayanes Montero told BusinessMirror in a video call.
Montero is one of the four Filipinos in Valencia, Spain who were directly affected by the unprecedented flood that killed more than 200 people.
The 36-year-old OFW hails from Daraga, Albay, and had experienced Super Typhoon Rosing, countless other typhoons and lahar mudflow from Mt. Mayon.
“Joke nga ng high school friend ko, ‘Dinala mo yata bagyo dyan eh,’” she mused. Montero, an assistant social media manager, was working from home when she got a text alert via Whatsapp that there will be heavy rains on October 29.
So, she immediately went to fetch her 2-year-old daughter at the daycare center. They arrived around 7pm at their flat which is at the mezzanine floor of their apartment building.
“While preparing dinner, bigla kong narinig sa labas na maraming commotion. I could see police cars flashing lights. When I looked at the window, many cars were parking across our building. And the water was going higher and higher,” she narrated.
So she packed her daughter’s diapers, clothes and other necessities and left their flat. At the patio of their building, one of the
residents saw them from the upper floor and took them in.
“In Valencia, it only rains here 3 days, maximum 5 days. unlike in Bicol where it rains almost every month, flooding. But still I was shocked, the community is in shock,” she said. When she returned to her flat to check on her belongings, she found that the flood had reached about knee-deep and mud about ankle-deep inside.
The “saddest scene” was the Christmas tree sprawled on the muddied floor, together with other belongings.
“I haven’t left Spain since 2019 and my daughter hasn’t seen my family. It was very symbolic for me because we were supposed to celebrate Christmas. September pa lang, sinetup ko ang [As early as September, I set up the] Christmas tree,” she said, crying. Asked about the difference
between her experience in Albay and her experience in Spain, she replied, “I have a daughter now. I have to prioritize her. Before, you’re just chill. You take it as part of your life, you embrace. It’s part of the Bicolano culture.”
While electricity and water supplies have returned in their area, she thinks post-recovery efforts may not be as forthcoming.
“Trying to clean the house, it’s so humid. You can almost smell death, like decomposing. They still haven’t [taken] the cars from the garage, many were trapped in the garage at the basement parking. They haven’t retrieved these yet,” Montero said. She said she has reached out to the Philippine Consulate General in Barcelona and the Honorary Consulate in Valencia to help her with finding a new flat and hopefully bring normalcy to her and her daughter’s life.
Reine
General Richard Anthony Fadullon
CARS remain strewn, some piled atop others, outside the flat where Fillipina Ma. Cherisha Lou Magayanes Montero lives in Valencia, days after unprecedented flooding transformed eastern Spain into rivers of water and mud. PHOTO CREDIT: MA. CHERISHA LOU MAGAYANES MONTERO
Editor: Jennifer A. Ng
8990 earnings fall as sales of low-cost homes decline
By VG Cabuag @villygc
Mass housing builder 8990
Holdings Inc. said its income in January to september plunged by 24 percent to P4.72 billion from the previous year’s P6.21 billion as sales of low-cost homes plummeted.
t he company said revenues during the period fell 8 percent to P15.68 billion from the previous year’s P17.21 billion.
Real estate sales, meanwhile, also declined by 8 percent to P15.46 billion from P16.87 billion recorded in the same period last year.
t he company said its consolidated deposits from customers from the period were only at P671.9 million as of September 30, less than half of the previous year’s P1.83 billion.
t he said deposits represent down payments made by the real estate buyers for the purchase of residential
housing units and timeshares. Once the residential unit is ready for occupancy, delivered and accepted by the buyer, the amount is removed from the liability account and is classified as part of sales.
t he fall was due to the increase in direct to Pag-IBIg loan takeouts and direct to bank loan takeouts collections from urban deca Homes Ortigas, urban deca Homes Banilad and deca Homes Pampanga.”
t he company mainly relies on cash flow from operations, cash generated from the sale or transfer of receivables to private financial institutions such as banks or to government housing related institutions such as the Home development Mutual Fund (Pag-Ibig) and financing lines provided by banks, for its revenues.
Cost of sales and services for the
nine-month period was up at P8.78 billion from the previous year’s P8.38 billion. “ t he increase was mainly attributable to higher level of resale which normally carries higher cost of sales than fresh units.”
8990 said it signed a memorandum of agreement with the local government of Quezon City to provide residential housing units to its employees and informal setters.
t he company said the deal involved some 2,699 housing units of the company’s new four-tower urban deca Homes Commonwealth project in Litex near Commonwealth Avenue.
8990 Chairman Mariano Martinez Jr. said this agreement marks the first housing project undertaken by the company with a local government unit.
Watsons to expand PHL store network
By Andrea E. San Juan @andreasanjuan
Watsons Philippines said it will “aggressively” expand next year as it aims to add 90 more stores which will be built in business districts and condominiums.
“We are in a very good position. In fact, very aggressive expansion next year. t he target is about 90 stores to open for next year,” Sharon P. decapia, the company’s senior assistant
Cebu Pacific launches seat sale
Budget carrier Cebu Pacific said on Monday it has kicked off a seat sale with over 750,000 available for booking as part of its latest push to make travel accessible to more Filipinos. until November 7, passengers can book one-way flights to any of Cebu Pacific’s domestic destinations for as low as P99, exclusive of additional fees and surcharges.
t he sale covers a travel period from January 1 to March 31, 2025.
t hroughout 2024, Cebu Pacific expanded its network, reintroducing routes and opening new ones, especially in the Visayas and Mindanao.
From davao, passengers can now enjoy direct flights to 12 destinations, including Cagayan de Oro, Puerto Princesa, and Clark, while Iloilo connects to nine destinations such as tacloban and Zamboanga.
In Cebu, the gokongwei-led carrier offers flights to over 20 destinations, with newly launched routes to Masbate and San Vicente in Palawan, renowned for its sprawling white sand beaches. travelers can conveniently pay via credit or debit cards, e-wallets, or use their Cebu Pacific travel Fund, providing flexibility in payment options.
Cebu Pacific currently operates in 35 domestic and 26 international destinations, including routes across Asia, Australia, and the Middle e ast. Lorenz S. Marasigan
AyALA-L ed Integrated Micro- e lectronics Inc. (IMI) on Monday said its net losses shrank to $2.67 million in the January-to-September period from the previous year’s $88.85 million.
vice president, told reporters at a press briefing on Monday. decapia said a huge chunk of the 90 stores that the flagship health and beauty brand of A.S. Watson group aims to open in 2025 would be “community pharmacies.”
“Majority of it would be the community pharmacies. We will be in communities. Right now, we’re in all SM malls and we’re not just exclusive to SM. We are also available in Robinsons, Ayala, even in greenbelt.” decapia said the company selects
the location of its new stores based on its proximity to its target market.
“We really want to make sure that the locations that we identify are really close to our target customers. Somehow, we don’t oversaturate a specific area,” she said. “Also, we want to be in areas where there are no Watsons stores.” As to its financial performance, decapia said the health and beauty brand has been seeing double-digit growth in terms of revenues in the past five years.
Some of its biggest stores, such as
the ones in SM Mall of Asia and SM North edsa, have posted revenues of P1 million a day.
Currently, Watsons has over 1,000 stores in the Philippines. t he company said it is “committed to expanding its reach, especially in provincial areas with limited access to health and beauty products.”
“We are continuously opening more community stores and strengthening our e-commerce platform in line with our O+O [Offline+Online] strategy.”
Pratt & Whitney Canada, INAEC hold roadshow
AssociAte Director of Field o perations Barry Demmert providing an overview of the P
AeROSPAC e engine manufacturer Pratt & Whitney Canada (PWC) recently held its Customer day Roadshow in partnership with INA eC Aviation Corp. last October 15 in Manila. In attendance were representatives from the biggest general aviation operators from around the country.
t he second of two roadshows held this year and part of PWC’s tour around Asia-Pacific, the event focused on the P t6 engine series –one of the most successful general aviation engines globally and used in both civilian and military aircraft. As a long-standing customer of PWC, operating the Beechcraft King Air powered by the P t6 engine since the 90s, INA eC was chosen to host the Philippine leg of the roadshow series.
t he event featured updates on customer support and services, engine maintenance solutions, and Sustainable Aviation Fuels (SAF).
As it stands, Pratt & Whitney engines can take up to a 50/50 blend of SAF and conventional fuel (Jet A1), with no additional maintenance required.
t he PWC team also introduced maintenance management programs which can serve as a valuable tool for enhancing planning, minimizing aircraft downtime, and, most importantly, cutting costs. Also discussed were the issues on bird strikes and foreign object debris (FOd) damage, incidents that occur more frequently than it should.
“In today's environment— marked by supply chain disruptions and fluctuating oil prices—these topics are timely and the programs we offer are particularly beneficial. With built-in safeguards against inflation, we can provide operators with essential protection, helping to stabilize operational expenses in a volatile market,” said Rakesh Misir, Senior Regional Manager of PWC
Asia Pacific.
“We are honored to contribute to these roadshows initiated by an equipment manufacturer like Pratt and Whitney. Whether as a manufacturer like Pratt and Whitney, or as a service provider and an end-user, like INA e C, we share common goals in terms of enhancing safety and improving our technical expertise. e vents like this underscore this fact and create stronger bonds within our aviation community,” said d exter Ampong, g eneral Manager of INA e C.
In August, INA eC also hosted the kickoff for Pratt & Whitney’s roadshow series in the country which centered on helicopter engines. Representatives from various helicopter operators and MROs attended the event which focused more on maintenance practices for the harsh tropical operating environment of the Philippines.
Its revenues, however, remained depressed and were down by 18 percent to $841.01 million from the $1.03 billion recorded a year ago.
Of this year’s revenues, the company said some $758 million was generated from its core businesses which navigated soft market conditions leading to a 9-percent year-onyear decline in core sales.
t he automotive market’s continued uncertainty, coupled with industrial customers’ rightsizing of inventory levels has led to reduced ordering patterns and pushouts of new product ramp-ups.”
t hese developments resulted in lower utilization across multiple IMI sites, affecting profitability for the company.
IMI’s consolidated gross margin for the three quarters was at 8.2 percent, a 63-basis point decline against the same period last year.
Including restructuring expenses and other non-operational one-offs, the group reported a net loss of $9.2 million for the period.
VIA Optronics, in which IMI
THe Securities and exchange
Commission (SeC) reminded corporations that they have only less than a month to clear their record and avoid higher fines and penalties for the late and non-filing of reportorial requirements.
SeC said its enhanced Compliance Incentive Plan (eCIP) will be in place only until the end of November.
t he said plan provides eligible corporations a final chance to regain their good standing and pay penalties at significantly lower rates.
“With less than a month left before we officially close eCIP, we encourage non-compliant, suspended and revoked corporations to complete their applications to ensure the continuous operations of their businesses,” SeC Chairman emilio B. Aquino said.
“We remind corporations that the submission of reportorial requirements is mandated by law, and failure to comply could result in the suspension or revocation of their corporate registration.”
t he Revised Corporation Code of the Philippines requires all S e C-registered corporations to submit their annual financial
holds a 50-percent stake, is currently navigating “substantial challenges” in its business environment, the company said.
VIA Optronics reported revenues of $83 million, reflecting a 37-percent decline compared to last year, primarily attributed to reductions in its laptop business, loss of orders from certain automotive customers as well as bankruptcy of another customer in the mobility camera segment.
“We are navigating the turbulent waters of the electronics market this year with both agility and decisiveness. While securing order demand remains a challenge, we have managed to mitigate the impact of the headwinds we face,” company CeO Louis Hughes said.
Hughes said through its downsizing efforts, the company was able to reduce core fixed overhead and selling, general and administrative expenses by about $25 million for the year.
“By operating more efficiently with a flatter, leaner support structure, we are positioning ourselves to enhance profitability as customer ordering patterns normalize. Furthermore, we are increasingly more selective of the projects we pursue, focusing on businesses that align with our core competencies.” VG Cabuag
statements and g eneral Information Sheets.
Noncompliance could lead to the imposition of applicable fines and penalties and, for extreme cases, the suspension or revocation of corporate registration. t his strips a company of the powers and privileges granted to a registered corporation, including separate juridical personality, limited liability, and perpetual existence, among others. Corporations who have incurred fines and penalties for the late or non-filing of their AFS or g IS, as well as noncompliance with Memorandum Circular No. 28, Series of 2020, which requires corporations to designate official and alternative contact details, may apply for e CIP. under the program, non-compliant corporations, including those under the delinquent status, shall pay only P20,000 to settle their fines and penalties for the covered violations, while suspended or revoked corporations will only have to pay 50 percent of their total assessed penalties and a petition fee of P3,060 to lift their order of suspension/revocation. VG Cabuag
Photo from the facebook Page of Im
Banking&Finance
Oct inflation pace propels passion for T-bills
By Reine Juvierre Alberto @reine_alberto
THE national government fully awarded all bids in its Treasury bills (T-bills auction) on Monday with P20 billion on offer, on the back of strong demand from investors amid anticipation of faster inflation in October.
According to the Bureau of the Treasury (BTr), total tenders reached P69.9 billion, which is more than thrice or 3.5-times oversubscribed, from the initial offering of only
P20 billion. The amount in the bidding process is also higher than the P56.046 billion in demands tendered in last week’s auction. The 91-day government securi-
Asset quality, higher income drive PSBank
By Cai U. Ordinario @caiordinario
THE favorable interest environment and expecting strong consumer loans will drive the performance of the Philippine Savings Bank (PSBank) toward the end of the year, the thrift banking arm of the Metrobank Group said through a statement.
The lender’s stance us based on the increase in its net income by 19 percent to P4 billion in the Januaryto-September period this year.
PSBank said its financial performance in the nine-month period ending in September this year was driven by higher operating income and better asset quality.
“We remain well-positioned to serve the growing needs of our customers as we approach the final stretch of 2024. PSBank is gearing up for a more favorable interest rate environment which is seen to further boost consumer loan demand,” PSBank President Jose Vicente L. Alde was quoted in the statement as saying.
On Monday, PSBank shares traded at P60.50 per share. This was 0.82 percent lower than the P61 per share recorded in October 31. Both rates are below the 52-week high of
P61.7 per share.
The bank also reported that its core revenues, which include net interest income, service fees and commissions, grew by four percent to P10.52 billion. However, PSBank reported the increase in operating expenses was capped at four percent, ending at P6.91 billion after three quarters.
In terms of gross loans, the bank said these grew 12 percent to P138 billion on the back of higher auto, mortgage, and business loans.
The bank’s asset quality also improved as gross non-performing loans ratio dropped to 2.8 percent in the first three quarters of 2024 from 3.4 percent in the same period last year.
PSBank said its total assets stood at P219 billion while total deposits amounted to P167 billion as of the end of the third quarter. Capital funds grew to P43 billion with total capital adequacy ratio and common equity tier 1 ratio at 24.2 percent and 23 percent, respectively.
The bank noted that both ratios are above the regulatory minimum set by the Bangko Sentral ng Pilipinas and are among the highest in the industry.
US dollar drops as some polls favor Kamala Harris
THE dollar fell as investors walked back bets on Donald Trump winning the US presidential election after weekend polls indicated Kamala Harris was gaining ground. Oil advanced after OPEC+ delayed an output hike.
An index of the greenback dropped the most in more than a month, while the Mexican peso— which tumbled in the aftermath of Trump’s 2016 victory—was the top performer among 16 major currencies tracked by Bloomberg. US Treasuries and European stocks rose. Harris received some encouraging signals from an ABC News and Ipsos poll giving her a 49 percent-46 percent edge nationally against Trump in the race for the White House, while the New York Times/Siena survey released Sunday showed the Democratic nominee ahead in five of seven swing states.
A survey by the Des Moines Register that pointed to a lead for Harris in Iowa—a state that Trump has won in both of his previous contests—was a likely outlier, but served to underscore the evershifting dynamics of the race. Still, Harris’ advantage across all of the surveys was within the margin of error, and a NBC News poll released Sunday showed the race deadlocked 49 percent-49 percent.
The dollar gauge and 10-year Treasury yields both had reached their highest since July in recent weeks, after investors ramped up wagers on a second term for Trump. The
ties, while sold at the full amount of P6.5 billion, attracted tenders amounting to P19.155 billion. However, the auction committee rejected P12.655 billion worth of offers.
As a result, the 3-month tenor interest rates averaged 5.605 percent, higher by 1.9 basis points (bps) from 5.586 percent at the previous auction. Rates ranged from a low of 5.598 percent to a high of 5.648 percent.
The 182-day tenor was similarly sold at the full amount of P6.5 billion after attracting tenders totaling P26.065 billion and prompting the auction committee to reject P19.565 billion.
Yield for the six-month tenor averaged 5.735 percent, which is 1.7bps lower than the 5.752 percent set at the previous auction as accepted
THE high interest rate environment and the bank’s feebased income boosted the net income of the Philippine Business Bank (PBB) in the first three quarters of 2024.
In a disclosure to the Philippine Stock Exchange (PSE), PBB reported that its net income grew 57.1 percent to P1.8 billion in the January-to-September period this year from P1.15 billion in the same period last year.
On Monday, PBB traded at P9.07 per share, a 1.41 percent decline from the P9.2 per share close in October 31. These share prices are below the 52-week high price of P9.5 per share.
PBB’s interest income grew 16.1 percent to P7.83 billion in January to September 2024 while its fee-based
THE Bank of the Philippine Islands (BPI) announced recently it has been recognized as the “Sustainability Company of the Year” at the Asia CEO Awards.
“This accolade highlights BPI’s unwavering commitment to sustainability and environmental responsibility through responsible banking and operations, solidifying its leadership in sustainable finance in the Philippines, which began in 2008,” the lender said.
rates ranged from 5.724 percent to 5.760 percent.
The 364-day tenor was also sold in full, amounting to P7 billion with the auction committee receiving tenders amounting to P24.650 billion and rejecting P17.650 billion.
The average auction yield for the one-year debt papers settled at 5.786 percent, higher by 3.5 bps from 5.751 percent at the previous auction. The rate settled between 5.750 percent and 5.795 percent.
Secondary market levels for the government securities were quoted at: 5.327 percent for the three-month tenor; 5.796 percent for the sixmonth tenor; and, 5.801 percent for the one-year tenor, according to the PHP Bloomberg Valuation Service Reference Rates.
income grew 50 percent in the same period.
“The bank’s financials showed remarkable performance and growth in the first nine-months of 2024 earning P1.8 billion net income, an accomplishment that took PBB the full year to reach in 2023,” PBB President and CEO Rolando R. Avante said.
“The bank also generated trading gains of P402 million further boosting net income despite economic volatility,” Avante added.
The PBB vice-chairman also attributed the bank’s interest income growth to its focus on expanding its consumer business and its support for the small and medium enterprise (SME) sector.
According to Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort, average auction yields corrected higher a day before the local inflation data that is expected to pick up in October. Ricafort explained that markets have already priced in the possibility that Donald Trump would trump Kamala Harris in the United States election on November 5. Such condition could lead to higher inflation and higher US Treasury yields, with the benchmark 10-year tenor at a new four-month high of 4.38 percent, he explained. Nonetheless, future rate cuts by local monetary authorities due to lower tariff rates on imported rice could be offsetting positive factors, Ricafort said. The latter, he added,
He explained that this latest performance is “a testament to the bank’s resilience and adaptability to weather high interest rate pressures while ensuring its profitability and growth.”
“As PBB moves into the fourth quarter of 2024, it will remain wellpositioned for sustained growth and profitability. It remains steadfast in its commitment to its clients by offering products that cater to their needs,” Avante said.
“These will ensure that the Bank is ready to face future challenges while continuing to deliver value to its stakeholders,” he added.
Core income reached P2.4 billion and profit before tax was at P2.25 billion. Total loans and receivables
Company
grew 13.1 percent to P120.6 billion as of the end of September 2024. The bank’s total resources stood at P161.3 billion as of end-September 2024 while on the funding side, deposit liabilities were at P131.9 billion in the first three quarters of the year. Shareholders’ equity was at P19.7 billion, equivalent to a book value per share of P23.31 net of preferred shares. Annualized returns on assets and equity improved to 1.49 percent and 12.18 percent, respectively. The bank’s capital adequacy ratio was 12.92 percent and minimum liquidity ratio at 24.55 percent at the end of the first half of 2024, above the adjusted statutory requirement of 10 percent and 20 percent, respectively. Cai U. Ordinario
argument goes that his support for looser fiscal policy and steep tariffs will deepen the federal deficit and fuel inflation, pushing up interest rates to the detriment of Treasuries but the benefit of the dollar.
“It’s impossible to call at this point,” Bill Maldonado, chief executive officer at Eastspring Investments, told Bloomberg TV. “We’ve heard Trump talking about tariffs and other measures, but do we really know what’s going to get implemented in what manner? It’s almost impossible to position for it.”
US futures edged higher after Wall Street’s gains Friday following robust earnings from the likes of Amazon. com. Nvidia Corp. rose 2.5 percent in early trading after an announcement that the chipmaker will replace Intel Corp. in the 128-year-old Dow Jones Industrial Average. Intel dropped 2.8 percent, while Apple Inc. fell 0.6 percent after Warren Buffett’s Berkshire Hathaway Inc. continued its sale of shares in the iPhone maker.
In addition to the US election, trading across financial markets this week also will be shaped by central bank decisions for the US, UK and Australia, among others. The Federal Reserve is expected to cut rates by 25 basis points Thursday, after the latest jobs data showed US hiring advanced at the slowest pace since 2020 while the unemployment rate remained low. Even so, the numbers were distorted by severe hurricanes and a major strike.
Bloomberg News
According to BPI, its ongoing efforts to integrate environmental, social, and governance (ESG) principles into its core strategies were key to this recognition. The bank said its “Sustainability Agenda” emphasizes responsible banking and operations, ensuring that its activities contribute to financial inclusion, sustainable development, nationbuilding, environmental responsibility, and social responsibility.
According to BPI, it has been “a trailblazer in sustainable financing, becoming the first Philippine bank to implement a time-bound coal phase-out commitment.”
It also launched the Sustainable Development Finance (SDF) program in 2008, which has funded over 417
BITCOIN speculators are bracing for potentially pronounced market volatility in the aftermath of Election Day in the US on Tuesday.
A 30-day gauge of implied swings in the largest digital asset has hit the highest level since a global market rout roiled investors in August. The index, compiled by CF Benchmarks Ltd., is derived from CME Group Bitcoin options pricing.
The options market also signals expected moves of about 8 percent in either direction the day after the vote, compared to typically 2 percent up or down on a normal day, said Caroline Mauron, co-founder of Orbit Markets, a provider of liquidity for trading in crypto derivatives.
“No significant volatility pre -
ESG projects worth P277 billion since. These projects have contributed significantly to reducing greenhouse gas emissions and fostering inclusive economic growth, according to the lender.
The bank said its “responsible lending policy” ensures that environmental and social factors are rigorously assessed in its credit decisions, further promoting sustainable business practices among its clients. The lender added that its “Sustainable Funding Framework” supports projects with clear environmental and social benefits, including renewable energy, energy efficiency, and green buildings.
The lender said it mandates all its employees have at least 10 percent of their key results areas focused on sustainability. “This ensures that the bank’s sustainability agenda is deeply embedded across all levels of the organization,” it added.
BPI said it has also shifted three of its corporate offices to 100-percent renewable energy while 18 of its branches have been certified by the International Finance Corp. “EDGE” for meeting at least 20 percent savings in electricity, water, and embodied energy in materials.
mium is priced in after November 7, suggesting the market expects a fairly quick resolution,” Mauron added. “This might prove optimistic, considering how close a race the polls are showing.”
The contest between Republican nominee Donald Trump and Democratic rival Vice President Kamala Harris is going down to the wire, leaving investors across asset classes preparing for market upheavals. During campaigning, Trump took an avowedly pro-crypto stance, while Harris, in a measured approach, pledged to back a regulatory framework for digital assets.
Trump trade
BOTH stances stirred optimism in the crypto community given
the contrast with an industry crackdown under President Joe Biden. But Trump’s tight embrace of the sector turned Bitcoin into one of a number of socalled Trump trades.
The former president’s lead over Harris in betting markets helped to lift Bitcoin to the verge of a record high a week ago but his odds have since dropped, pushing the token lower. Polling indicates a photo finish, though there are also some encouraging signs for Harris in last-ditch surveys of voter intentions.
An even distribution of bearish and bullish options for Bitcoin throughout October indicates speculators are equally poised for upward and downward movements leading up to
the US vote, according to a report from Derive.xyz, a trading venue focused on crypto derivatives.
For the weeks after the election, data from the Deribit exchange hint at a possible $60,000 to $80,000 trading range based on peak open interest—or outstanding contracts— for bearish and bullish wagers, respectively.
Bitcoin churned near $69,000 as of 9 a.m. Monday in London. The digital asset reached an alltime high of $73,798 in March, aided by inflows into dedicated US exchange-traded funds. The original cryptocurrency has rallied more than 60 percent so far in 2024, outperforming assets like stocks and gold. Bloomberg News
This undated photo courtesy of the Bank of the Philippine islands shows BPi’s (from lef to right) safety and Disaster Management head Dan Erwin Nabayo, Chief human Resources Officer Maria Virginia O. Eala Chief Finance Officer and Chief sustainability Officer Eric Roberto M. Luchangco and sustainability Office head Jo Ann Bueno-Eala. CREDIT: Bank of ThE PhIlIPPInE IslanDs
Clarence Chun, Luis Lorenzana collaborate on shared canvasses
ON view at MONO8 in San Juan City is CCxLL, a two-person exhibition between Clarence Chun and Luis Lorenzana, featuring the visual artists’ first collaborative series on shared canvases.
Chun primarily works in abstraction. Splitting his time between Manila and Honolulu, the
Tacloban-born artist explores his relationships with the significant settings in his life, particularly the influence of bodies of water in these places. In 1999, Chun was awarded the Ellen Battell Stoeckel Fellowship from Yale University School of Art and later received his BFA in Painting (cum laude) from the University of Houston School of Art and his MFA in Painting from the School of Visual Arts in New York.
In CCxLL, Chun visualizes the abstract concepts of speed and time. His works transport the audience to otherworldly dimensions, wherein allusions to the artist’s memories and quirky pop culture references abound. Meanwhile, Lorenzana’s presentations in the show challenge established norms in painting. Of note is his “Head” series, which turns the historical tradition of portraiture art on its, well, head.
The Manila-born artist started his practice working with illustration. His early works reflected socio-political aspects informed by his experience
working at the Philippine Senate, before transitioning to more formalist approaches in the deconstruction and construction of profiles through portraiture anchored in abstraction and pop surrealism. Lorenzana was a finalist in the Philip Morris Philippine Art Awards, the International Book Illustration Competitions, and the Metrobank Art and Design Excellence (MADE) Awards.
A highlight of CCxLL are the joint works between Chun and Lorenzana. The collaborative pieces “riff on one another’s exploratory strategies,” pushing the limits of painting as a medium.
MONO8 was founded in 2017 as a Philippine-based contemporary art space committed to redefining the gallery platform as a place for artistic exchanges and the critical understanding of contemporary art.
CCxLL runs until November 24 at MONO8’s Manila space in BLK 113, 53 Connecticut Street, Greenhills, San Juan City. ■
WARSAW OPENS A NEW MODERN ART MUSEUM AS IT TRIES TO LEAVE POLAND’S COMMUNIST LEGACY BEHIND
WARSAW, Poland—A modern art museum designed by American architect Thomas Phifer opens its doors in the Polish capital on Friday—a minimalist, light-filled structure that is meant to be a symbol of openness and tolerance as the city tries to free itself from its communist legacy.
The Museum of Modern Art in Warsaw sits like a bright white box on a major city street. Inside, a monumental staircase with geometric lines rises to upper floors, where large windows flood the gallery rooms with light.
City and museum officials say the light and open spaces are meant to attract meetings and debate—and become a symbol of the democratic era that Poland embraced when it threw off authoritarian communist rule 35 years ago.
Warsaw Mayor Rafał Trzaskowski said the museum’s opening is a “historic moment for Warsaw” and that the project, which will later include a theater, will help to create a new city center no longer dominated by a communist symbol.
“This place will change beyond recognition, it will be a completely new center,” he said on Thursday. “There has not been a place like this in Warsaw for decades, a place that would be created from scratch precisely to promote Polish
art, which is spectacular in itself.”
Warsaw was turned to rubble by occupying German forces during World War II and was rebuilt in the gray, sometimes drab, style of communist regimes across Eastern Europe. But years of economic growth in the post-communist era have produced modern glass architecture, cutting-edge museums and revitalized historic buildings.
The museum was built on the site of a former parking lot near the Palace of Culture and Science, a dominating Stalinist skyscraper. Though long hated by many who saw in it as a symbol of Moscow’s oppression, the ornate palace remains an icon of the city today—perhaps even the city’s most recognized building. The museum responds with its bright white minimalism and smaller scale.
“It is very important that this building is located opposite the Palace of Culture and Science and symbolically changes the center,” museum director Joanna Mytkowska said. “This is a building dedicated to open, equal and democratic culture.”
American and other Western architects are putting their mark on Warsaw. The city skyline includes a soaring luxury tower created by Daniel Libeskind, the renowned Polish
American architect. The firm of British designer Norman Foster created the Varso Tower, which at 310 meters (1,017 feet) is the tallest skyscraper in the European Union. A Finnish architectural team designed the city’s landmark Jewish history museum.
Phifer’s New York-based practice is known in the United States for projects including the North Carolina Museum of Art, the Corning Museum of Glass and the Glenstone Museum expansion in Potomac, Maryland.
Asked by a reporter if he viewed the Warsaw museum as his masterpiece, the 71-year-old did not hesitate with his answer. “Of course,” he said. He said from the time he began working on the museum 10 years ago, he was aware that his work was part of Warsaw’s “remarkable renaissance.”
The city financed the 700,000 million zloty ($175 million) project. In the first weeks it will hold performances and present several large-scale sculptures and installation pieces by female artists, including Magdalena Abakanowicz, Alina Szapocznikow, Sandra Mujinga and Cecilia Vicuña. The full opening with its larger collection is scheduled for February. AP
By Eugenia Last
GEMINI
trusting people to take care of your concerns or business. ★★★
LEO (July 23-Aug. 22): Apply pressure where needed and use physical labor to ensure things get done on time. Participate in an event that offers a challenge you find gratifying or that will encourage an encounter with someone who enriches your life. Personal and physical improvement will disclose opportunities. ★★★
VIRGO (Aug. 23-Sept. 22): Keep an open mind and try not to overreact to situations or comments. Criticism will make matters worse, but if you put your energy into educational pursuits or self-improvement instead of trying to change others, you'll feel good about your achievements and avoid negative interactions. ★★
LIBRA (Sept. 23-Oct. 22): Short trips, with destinations that teach you something or bring you in contact with someone who makes you think, will prompt inner change and a better lifestyle. Put your best foot forward and explore the possibilities. A change will encourage you to concentrate on personal happiness and gratification. ★★★★
SCORPIO (Oct. 23-Nov. 21): A steady pace will deter others from standing in your way. Stay on top of money matters to avoid overpaying for something you can get cheaper elsewhere. Research and dedication are your ticket to finishing what you start and being happy with the results. ★★★
SAGITTARIUS (Nov. 22-Dec. 21): Think, develop and perfect your idea before you share your plan with others. Your objective is to avoid interference. Use your time effectively to ease stress and point you in a direction that offers personal and financial gains. Implement positive change, and you'll prosper.
CAPRICORN (Dec. 22-Jan. 19): Refuse to suffocate your dreams when, realistically, they will stimulate your mind and encourage you to focus on personal contentment, happiness and health. Spend time working through any issues that may slow you down. Taking a unique approach is beneficial, if your plan is feasible. ★★★
AQUARIUS (Jan. 20-Feb. 18): Be demonstrative if it will help you raise interest in something you have to offer. Take the initiative to physically follow through instead of just talking about your dreams. Opportunity begins with you and your enthusiasm. Don't limit what you can do or let outside influences discourage you.
PISCES (Feb. 19-March 20): Focus on what you want to achieve and refuse to let anyone's behavior deter you from what you want to accomplish. Choose your words carefully to sidestep criticisms, arguments or demands that help others more than you. Moderation and a simple lifestyle are in your best interest. ★★★★
BIRTHDAY BABY: You are fun-loving, entertaining and optimistic. You are energetic and adventurous.
‘chess with friends’ BY JARED CAPPEL
The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Adrian Johnson/Jared Goudsmit/Taylor Johnson
Show BusinessMirror
GMA Network recognized for child-friendly content at 2024 NCCT Awards
LEADING broadcast media company GMA Network won five awards at the 2024 National Council for Children’s Television Awards (NCCT) on October 18, 2024. The awarding ceremony was part of a series of activities celebrating NCCT’s 27th anniversary.
For its commitment to producing world-class and meaningful entertainment programs with values and purpose, GMA was conferred with NCCT’s Child-Friendly Content Standards Compliant Broadcast Television Award. The recognition is granted to television networks that fulfill the requirement of allocating a minimum of 15 percent of their daily total airtime to children’s programs and/or child-friendly programs to be shown during child-viewing hours.
Meanwhile, GMA’s advocacy campaign “Dapat Ganito, Kapuso” received a Special Citation Award. The campaign champions the network’s mission to celebrate and uphold Filipino beliefs, traditions and values.
“Dapat Ganito, Kapuso” featured seven captivating short stories, with each highlighting a core Filipino value: MakaDiyos, Makabayan, Mapagmahal sa Pamilya, Mapagmalasakit sa Kapwa, Maabilidad, Malikhain, and Masayahin. The campaign featured Sparkle GMA Artist Center talents, and is in partnership with Unilab, UL Skin Sciences, Nestlé Philippines, Unilever, Glucerna and Bioderm. The short stories are available online on GMA Network’s YouTube Channel.
Two of GMA’s infotainment programs, iBilib and AHA!, won the Child-Friendly Television Program awards. Produced by GMA Entertainment Group and hosted by Chris Tiu and Shaira Diaz, iBilib features bizarre and interesting trivia on science and further entertains audiences with fun and enjoyable scientific experiments. AHA!, under GMA Public Affairs, is hosted by Drew Arellano and features pop culture topics while sharing relevant and relatable information.
Receiving a Certificate of Recognition as Grantee of National Endowment Fund for Children’s Television is “OK AKO,” a three-episode miniseries produced by GMA Entertainment Group. The program aired last September and featured light and heartwarming stories focusing on mental health, which highlighted the youth’s feelings of loss, anger, anxiety, bulimia, and depression. The episodes are also available online on GMA Network’s YouTube Channel.
The NCCT champions high-quality Children’s Television and Child-Friendly Television programs and child-friendly media. It supports networks that play an invaluable role in shaping entertaining and enriching content for young viewers. More information is available at www.gmanetwork.com.
Waiting for their big breaks
FOR aspiring actors, all it takes is one breakthrough role to find his place or redefine his worth in the world of entertainment.
Many wait for years, while a few get their big breaks after waiting only a short period of time.
All these years, we have always cheered for the underdogs in this rat-race industry that usually opens the biggest doors for those who are well-connected— some are products of showbiz families or are children of newbie film producers, while others take the easiest route by getting into more than working relationships with filmmakers, producers, managers, casters, fashion stylists and make up artists, oftentimes leaving those who are truly promising and naturally gifted with innate acting skills at the far end of the line.
But a few remain steadfast and patient, and work their way to success, no matter how challenging the road ahead maybe.
Three names come to our mind who deserve to get the big breaks they deserve.
MIGS VILLASIS
A FORMER athlete who dabbled in basketball and martial arts before being lured by show business, Migs has what it takes to be a future leading man. Up close and personal, he is charming and straight forward.
“What you see is what you get. I speak what I feel, but I am also aware that one can be frank without
being rude, and one can be honest and still be polite and pleasant,” he said.
For some years now, Migs has managed to get good supporting roles, specifically on GMA, his home studio. He told us that he treats every new character he plays very seriously, and he believes that one day soon he will snatch that role that will catapult him to the big league.
“Of course, it’s every actor’s dream to land that life-changing role, that is why I work hard and stay in focus, whether I am given a guest role or a regular one, because every assignment gives me the chance to learn and improve, and also to observe other actors.”
BRYAN BENEDICT
CURRENTLY sporting sexy, curly locks, Bryan Benedict is a product of GMA’s Protege: Artista Search some years ago. Although he didn’t win the contest, it paved the way for a lot of opportunities to jumpstart his dream career. Bryan graduated with university honors and tried working in the hotel industry before being bitten by the acting bug.
“I am happy when I get to play different characters. Acting is not only an outlet but it has become a passion as I get more and more experience. I wish that I can find my niche in this industry and evolve into becoming a better and more seasoned actor.”
A few months ago, his life story was featured in the long-running GMA drama program Magpakailanman, and that episode struck a cord in many viewers’ hearts. Bryan’s parents are both hearing impaired and his mom is also afflicted with Alzheimer’s.
Life is tough but Bryan is tougher. “I have to be both resilient and responsible as I deal with life’s many challenges. I continue to reach for my dreams of being a good actor and I hope that I will become successful someday.”
BRUCE ROELAND
THIS early, Bruce Roeland is being described as the complete package—good looks, amazing physique, and effortless masculinity.
PROSECUTORS SAY LAWYERS FOR SEAN ‘DIDDY’ COMBS WANT TO ‘HIJACK’ CRIMINAL CASE TO FIGHT CIVIL CLAIMS
NEW YORK—Federal prosecutors say lawyers for Sean ‘Diddy’ Combs are trying to “hijack” the music mogul’s criminal case from them by asking a judge to force early disclosure of evidence, including his accusers’ identities.
The prosecutors urged a judge in papers filed late Wednesday to reject the requests, saying the effort to reveal the identities of prospective witnesses, in particular, was “blatantly improper.” They said it was inappropriate for defense lawyers to seek the disclosure of victim identities and details about other evidence that would preview the government’s case.
Defense lawyers also have asked for a gag order to stop accusers’ lawyers from commenting publicly and have claimed government leaks to the media have threatened the rapper’s
chance at a fair trial.
Prosecutors said the requests were “a thinly veiled attempt to restrict the government’s proof at this early stage of the case and to hijack the criminal proceeding so the defendant can respond to civil lawsuits. This demand should be squarely rejected, especially in light of the risk it poses to witness safety.”
Prosecutors added: “As the defendant well knows, there is zero legal authority for his attempt to coopt this criminal proceeding to defend against civil litigation.” Combs, 54, has remained in a federal jail in Brooklyn since his September 16 arrest, awaiting a trial scheduled to start on May 5.
Part of the grounds on which a judge rejected a bail package suggested by his lawyers was that he was a
danger to obstruct justice and engage in witness tampering.
He has pleaded not guilty to charges that he coerced and abused women for years, aided by associates and employees.
Prosecutors said that since at least 2008, Combs engaged in a racketeering conspiracy, using his power and prestige in the entertainment industry to force women to engage in extended sex acts with male commercial sex workers in what were known as “Freak Offs.”
They said he used videos of the attacks as collateral to threaten victims, and they said he also physically assaulted women and others by striking, punching, dragging and kicking them.
Prosecutors said defense claims that the government leaked a video
of Combs assaulting his ex-girlfriend Cassie at a Los Angeles hotel hallway on March 5, 2016, to CNN were not true. They said defense lawyers were engaged in a “bald attempt to suppress a damning piece of evidence against him—a video of him violently beating a victim.”
More than a dozen lawsuits filed in Manhattan federal court have been assigned to different judges, leading to varying early rulings on whether allegations were sufficiently made.
In one instance, a judge on Wednesday ruled that a Tennessee woman who alleges Combs raped her in 2004 when she was 19 must proceed without anonymity or not at all. The judge wrote that defendants have a right to investigate those who sue them and the public has a right to know who uses the courts. AP
This Belgian-Filipino started facing the cameras as a newbie who just got out of puberty, doing small, forgettable roles mostly on television. As he grew older, Bruce quietly trained and prepared himself, and he surprised everyone when he showed off his welltoned physique recently. He came out in high-profile photoshoots with renowned photographers that highlighted his assets, and he recently scored an endorsement for Bench Body. “I am incredibly thankful for this milestone in my young career. At 19, and being the youngest Bench Body endorser is a proof that age or background do not define what one can achieve. Dreams are just waiting for you to open them, and it’s always up to you to take that big step and make your dream a reality.” Bruce is now managed by Sparkle and ready to take on assignments for the big and small screens. “I look forward to share and show what I’ve got, and hopefully make a mark soon in being an actor.”
Migs Villasis, Bryan Benedict and Bruce Roeland are all aware that patience is a virtue, and that hard work beats talent when talent doesn’t work hard. They might still be underdogs at this time but we will be cheering for them as they continue to chase their respective dreams and make it big. n
Moments allows you to save, relive, and share your Netflixfavoritescenes
NOW Polin’s steamy kiss or Barb’s last breath on Stranger Things can live forever in your My Netflix tab.
Ever find yourself hooked on a Netflix scene that sticks with you long after it’s over? Now, with Moments—a new mobile feature launching globally today on iOS and in the coming weeks on Android—you can easily save, relive and share your favorite Netflix scenes.
Whether you’re replaying the intense final showdown in Beef or a spooky twist in Wednesday, Moments lets you save and share it all. And with Season 2 of Squid Game coming on December 26, it’s the perfect time to revisit those nail-biting game sequences from Season 1 and get ready for what’s next.
Here’s how it works: Let’s say you’re watching the latest season of Bridgerton on your phone and want to save the scene where Colin and Penelope share their long-awaited kiss in the carriage. All you have to do is tap Moments at the bottom of your screen, and it’ll automatically save to your My Netflix tab. You can revisit your Moments anytime on your phone, and if you rewatch the episode, it will start playing right from the scene you bookmarked. Sharing Moments on Instagram, Facebook and other social platforms is just as easy. You can share a Moment as you create it, or from the My Netflix tab you can select a scene and tap to share it across all of your platforms. The roll-out of Moments coincides with a new Netflix global brand campaign, called “It’s So Good,” featuring some of the most beloved and memorable moments that captivated fans worldwide—including Cardi B, Simone Biles and Giancarlo Esposito. Moments will hopefully expand in the future, offering even more ways for members to use and enjoy the feature.
FROM left: Migs Villasis, Bryan Benedict and Bruce Roeland
BYD Pampanga Opens Doors to Electric Vehicle Innovation in Central Luzon
IN a significant move to enhance its presence in the country, BYD Cars Philippines, together with its official distributor in the country and mobility solutions platform of Ayala Corporation ACMobility, proudly announced the opening of BYD Pampanga, a state-ofthe-art dealership dedicated to promoting electric vehicle (EV) adoption in the region.
This flagship facility in Central Luzon underscores BYD’s mission to position itself as the leading EV brand in the Philippines and to provide exceptional mobility solutions to Filipino consumers.
Notably, BYD Pampanga is the EV maker’s first operational dealership in Central Luzon and its first dealership north of Metro Manila. It is also part of BYD’s rapidly expanding dealership network, which plans to have 25 facilities by the end of 2024.
“We are thrilled to partner with Oscar Chng and the entire BYD Pampanga team to bring this cutting-edge facility to life,” said Jaime Alfonso Zobel de Ayala, Chief Executive Officer of ACMobility.
“This dealership not only represents our commitment to expanding mobility solutions in the Philippines but also highlights our dedication to making electric vehicles more available to the people of Pampanga. In response to the growing demand for convenient EV options, this facility marks just the beginning of our journey. We are excited to continue our expansion into different regions, ensuring that more Filipinos can embrace the advantages of electric mobility.” he concluded.
Located at Villa del Sol, Jose Abad Santos Avenue, San Fernando, Pampanga, the new dealership is strategically placed to ensure convenient customer access.
This thriving economic area is known for its agricultural processing capabilities, making it an ideal location for promoting innovative transportation solutions.
The new facility is likewise designed to serve not only Pampangeños but also Filipinos in the Central Luzon region, creating a welcoming space for those interested in BYD electric vehicles.
Spanning a substantial 4,469 sqm, the three-story dealership features a 1,988 sqm display area that proudly showcases an impressive lineup of BYD’s latest electric vehicle offerings.
The dealership facility is also being expanded. Once completed next year, it
will have a total floor area of 5,455 sqm, making it the largest BYD dealership in the country.
“As the global # 1 New Energy Vehicle brand, BYD is keen on expanding its presence to more areas around the Philippines,” shares Lovelyn Labrador, Deputy GM for corporate services, BYD Philippines. “BYD Pampanga is the latest of many dealerships that will bring our brand’s technology and innovation to within reach of more Filipinos. We look forward to sharing the message of sustainable mobility to the people of Pampanga and Central Luzon,” adds Labrador.
Inside, customers will find a modern display area designed to reflect BYD’s global standards. The dealership is equipped to showcase up to 13 vehicles, including the popular BYD Sealion 6 DM-i electric SUV and the recently launched entry-level subcompact electric BYD Seagull. This welcoming environment is complemented by professional sales and after-sales associates, who are dedicated to guiding customers through their electric vehicle journey.
The BYD Pampanga dealership also features an impressive service area with eight work bays and a dedicated New Energy Vehicle (NEV) assembly repair room spanning 21 square meters. This ensures that customers receive top-tier support for their vehicles.
To further enhance customer experience, the dealership includes a 110-square-meter service lounge where clients can relax while their vehicles are being serviced.
Bob Palanca, Managing Director of BYD Cars Philippines, emphasized the importance of this opening: “Pampanga is set to play a crucial role in our nationwide expansion. With its strategic location and increasing demand for electric vehicles, we are confident that BYD Pampanga will significantly contribute to our mission of promoting electrified transport solutions across the region.”
Rangoon Ruby opens
BYD Pampanga is currently equipped
its
with electric vehicle chargers: one 7 kW AC charger, an additional 22 kW AC charger, and a single 60 kW DC charger. This setup not only supports efficient servicing of electric vehicles but also provides convenient charging options for customers visiting the dealership.
Oscar Chng, president of ValueSales, Inc., which manages BYD Pampanga, shared his enthusiasm for being part of the BYD family. “As a BYD dealer, we aim to serve the Pampanga community with highquality electric vehicles and exceptional service. We are dedicated to meeting the needs of our customers while contributing to a greener future for the region,” he stated.
Together with its inauguration, BYD Pampanga also announced its Electrify Your Drive promotion. BYD customers who purchase a BYD vehicle from the dealership and have it invoiced between October 15, 2024, and February 28, 2025, will qualify for a raffle to win a brand new BYD Seagull electric vehicle. “We want more people to experience going electric, and giving them this opportunity to drive home a BYD Seagull in addition to the BYD EV they already own will surely make owning a BYD a rewarding experience,” added Chng.
BYD Pampanga is open from 8:30 AM to 5:30 PM, Monday to Saturday, and from 9:00 AM to 4:00 PM on Sundays, making it easy for customers to visit and explore the latest in electric mobility. For more information, please visit https:// bydpampanga.com.
The opening of BYD Pampanga is a key part of a strategy to expand BYD’s dealership network in the Philippines, reinforcing ACMobility’s commitment to enhancing electric mobility for more Filipinos. As demand for electric vehicles rises, BYD Pampanga is poised to meet community needs with innovative solutions, positioning itself as a vital player in the local market and contributing to a movement toward greener modes of transportation nationwide.
first restaurant in
the
Philippines. creamy coconut chicken sauce, and Ruby Shrimp, stirfried in the wok with a special blend of spices. Guests can also enjoy Samosas, filled with mashed potatoes, red onions, and served with signature tamarind sauce.
Another highlight is the Tea Leaf Salad, a traditional Burmese delicacy made with fried garlic, yellow beans, peanuts, sesame seeds, sunflower seeds, lettuce, tomatoes, green chilis, and dried shrimp— topped with authentic fermented Burmese Tea Leaves, specially imported from Burma. This vibrant dish offers a distinct savory and refreshing flavor, providing an authentic taste of Burmese culture.
Rangoon Ruby seeks to introduce Filipinos to a new and exciting culinary experience that will help enrich the local food culture further. “We are excited to introduce the vibrant flavors of Burma to our local dining scene,” shares Ng, President of G2G All Spice Eatery Group Inc. “Filipinos have always embraced diverse cultures with open arms, and I believe Rangoon Ruby will be a place where we can experience not just delicious food but also the richness of Burmese heritage and the warmth of its culture.”
With its rich history, flavorful menu, and inviting ambiance, Rangoon Ruby is poised to become a mustvisit destination for food lovers seeking a taste of authentic Burmese cuisine.
Visit Rangoon Ruby and experience the vibrant flavors of Burma like never before.
Like and follow Rangoon Ruby on Instagram and on Facebook (@rangoonruby.ph)
FOR those who grind through the daily commute and crave the thrill of the weekend outdoors, having the perfect ride is key. Your car should be your best-suited partner for an active and adventurous lifestyle, able to keep up with you in terms of capabilities and style.
Mitsubishi Motors Philippines prides itself on vehicles that offer a seamless fusion of style, performance, and versatility. Cars like the Montero Sport and Xpander Cross empower active lifestyles with their blend of intuitive design, elevated comfort, and utilitarian features. This year, Mitsubishi Motors takes its popular models, the Montero Sport and Xpander Cross, to new heights with limited edition releases: the Montero Sport Black Series RALLIART and the Xpander Cross Outdoor Edition. Gear up for a bold escape with the Montero Sport Black Series RALLIART. Inspired by Mitsubishi Motors’ rich history in the off-road motorsport scene, this limited release brings RALLIART’s iconic and dynamic legacy to the, the 25MY Montero Sport Black Series. This edition stands out with its striking White Diamond with Black Roof exterior body color and RALLIARTinspired side decals. Mitsubishi Motors Genuine Accessories drive up the model’s sporty and active demeanor. This is further enhanced with black front and rear under garnishes with red accents, giving the vehicle a powerful presence from every angle. Red mud flaps add an extra layer of style and function, keeping the ride ready for the road’s kickbacks. Black wheel arch moldings complement the vehicle’s fenders. Inside, exclusive RALLIART-branded floor mats await you, adding a dash of excitement to Montero Sport’s comfortable and sophisticated interior. Carry the legacy beyond the wheel with exclusive RALLIART merchandise. When you purchase The Montero Sport Black Series RALLIART, it comes with a RALLIARTbranded umbrella, bag, and two caps. With superior capabilities, advanced safety features, exceptional comfort, and a standout design, the Montero Sport Black Series RALLIART boasts a style and edge fit for adventure. Drive it today for only P2,277,000 SRP*. It includes a P15,000 surcharge for White Diamond with Black Roof color (equipped for all Montero Sport Black Series RALLIART units) Our spacious seven-seater MPV is constantly a top choice for families, outgoing folks, and lovers of the great outdoors. That being said, we’re excited to announce that the Xpander Cross Outdoor Edition is BACK to take your
IN the photo are, from left, Antonio “Toti” Zara III, Head of Retail and Distribution, ACMobility; San Fernando City Mayor Benedict Jasper Lagman; Oscar Chng, President, ValueSales Inc.; Lovelyn Labrador, Deputy GM for Corporate Services, BYD Philippines; Jaime Alfonso Zobel de Ayala, CEO, ACMobility; Bob Palanca, Managing Director, BYD Cars Philippines; and Joseph Chng, CEO, ValueSales, Inc.
COURTESY CALL. Vice President Sara Duterte recently welcomed Mongolian Deputy Prime Minister H.E. Sainbuyan Amarsaikhan at the Office of the Vice President, Mandaluyong City.
Gaza’s hospitals under siege: A year of devastation and death as Israel wages war on medical facilities
By Isabel Debre, Julia Frankel & Lee Keath
The Associated Press
JERUSALEM—They
were built to be places of healing. But once again, three hospitals in northern Gaza are encircled by Israeli troops and under fire.
Bombardment is pounding around them as Israel wages a new offensive against Hamas fighters that it says have regrouped nearby. As staff scramble to treat waves of wounded, they remain haunted by a war that has seen hospitals targeted with an intensity and overtness rarely seen in modern warfare.
All three were besieged and raided by Israeli troops some 10 months ago. The Kamal Adwan, al-Awda and Indonesian hospitals still have not recovered from the damage, yet are the only hospitals even partially operational in the area.
Medical facilities often come under fire in wars, but combatants usually depict such incidents as accidental or exceptional, since hospitals enjoy special protection under international law. In its yearlong campaign in Gaza, Israel has stood out by carrying out an open campaign on hospitals, besieging and raiding at least 10 of them across the Gaza Strip, some several times, as well as hitting multiple others in strikes.
It has said this is a military necessity in its aim to destroy Hamas after the militants’ October 7, 2023 attacks. It claims Hamas uses hospitals as “command and control bases” to plan attacks, to shelter fighters and to hide hostages. It argues that nullifies the protections for hospitals.
“If we intend to take down the military infrastructure in the north, we have to take down the philosophy of (using) the hospitals,” Israeli military spokesman Rear Adm. Daniel Hagari said of Hamas during an interview with The Associated Press in January after the first round of hospital raids.
Most prominently, Israel twice raided Gaza City’s Shifa Hospital, the biggest medical facility in the strip, producing a video animation depicting it as a major Hamas base, though the evidence it presented remains disputed.
But the focus on Shifa has overshadowed raids on other facilities. The AP spent months gathering accounts of the raids on al-Awda, Indonesian and Kamal Adwan Hospitals, interviewing more than three-dozen patients, witnesses and medical and humanitarian workers as well as Israeli officials.
It found that Israel has presented little or even no evidence of a significant Hamas presence in those cases. The AP presented a dossier listing the incidents reported by those it interviewed to the Israeli military spokesman’s office. The office said it could not comment on specific events.
Al-Awda Hospital: ‘A death sentence’ THE Israeli military has never made any claims of a Hamas presence at al-Awda. When asked what intelligence led troops to besiege and raid the hospital last year, the military spokesman’s office did not reply.
In recent weeks, the hospital has been paralyzed once again, with Israeli troops fighting in nearby Jabalia refugee camp and
no food, water or medical supplies entering areas of northern Gaza.
Its director Mohammed Salha said last month that the facility was surrounded by troops and was unable to evacuate six critical patients. Staff were down to eating one meal a day, usually just a flat bread or a bit of rice, he said.
As war-wounded poured in, exhausted surgeons were struggling to treat them. No vascular surgeons or neurosurgeons remain north of Gaza City, so the doctors often resort to amputating shrapnel-shattered limbs to save lives.
“We are reliving the nightmares of November and December of last year, but worse,” Salha said. “We have fewer supplies, fewer doctors and less hope that anything will be done to stop this.”
The military, which did not respond to a specific request for comment on al-Awda hospital, says it takes all possible precautions to prevent civilian casualties.
Last year, fighting was raging around al-Awda when, on November 21, a shell exploded in the facility’s operating room. Dr. Mahmoud Abu Nujaila, two other doctors and a patient’s uncle died almost instantly, according to international charity Doctors Without Borders, which said it had informed the Israeli military of its coordinates.
Dr. Mohammed Obeid, Abu Nujaila’s colleague, recalled dodging shellfire inside the hospital complex. Israeli sniper fire killed a nurse and two janitors and wounded a surgeon, hospital officials said.
By December 5, al-Awda was surrounded. For 18 days, coming or going became “a death sentence,” Obeid said.
Survivors and hospital administrators recounted at least four occasions when Israeli drones or snipers killed or badly wounded Palestinians trying to enter. Two women about to give birth were shot and bled to death in the street, staff said. Salha, the administrator, watched gunfire kill his cousin, Souma, and her 6-yearold son as she brought the boy for treatment of wounds.
Shaza al-Shuraim said labor pains left her no choice but to walk an hour to al-Awda to give birth. She, her mother-in-law and 16-year-old brother-in-law raised flags made of white blouses. “Civilians!” her mother-in-law, Khatam Sharir, kept shouting. Just outside the gate, a burst of gunfire answered, killing Sharir.
On December 23, troops stormed the hospital, ordering men ages 15 to 65 to strip and undergo interrogation in the yard. Mazen Khalidi, whose infected right leg had been amputated, said nurses pleaded with soldiers to let him rest rather than join the blindfolded and handcuffed men outside. They refused, and he hobbled downstairs, his stump bleeding.
“The humiliation scared me more than death,” Khalidi said. The hospital’s director, Ahmed Muhanna, was seized by Israeli troops; his whereabouts remain
unknown. One of Gaza’s leading doctors, orthopedist Adnan alBursh, was also detained during the raid and died in Israeli custody in May.
In the wreckage from the November shelling, staff found a message that Abu Nujaila had written on a whiteboard in the previous weeks.
“Whoever stays until the end will tell the story,” it read in English. “We did what we could. Remember us.”
Indonesian Hospital: ‘Patients dying before your eyes’ SEVERAL blocks away, on October 18, artillery hit the upper floors of Indonesian Hospital, staff said. People fled for their lives. They’d already been surrounded by Israeli troops, leaving doctors and patients inside without enough food, water and supplies.
“The bombing around us has increased. They’ve paralyzed us,” said Edi Wahyudi, an Indonesian volunteer.
Two patients died because of a power outage and lack of supplies, said Muhannad Hadi, the UN humanitarian coordinator for Palestinian territories.
Tamer al-Kurd, a nurse at the hospital, said around 44 patients and only two doctors remain. He said he was so dehydrated he was starting to hallucinate. “People come to me to save them. … I can’t do that by myself, with two doctors,” he said in a voice message, his voice weak. “I’m tired.”
On Saturday, the Israeli military said it had facilitated the evacuation of 29 patients from Indonesian and al-Awda hospitals.
The Indonesian is Northern Gaza’s largest hospital. Today its top floors are charred, its walls pockmarked by shrapnel, its gates strewn with piled-up rubble—all the legacy of Israel’s siege in the autumn of 2023.
Before the assault, the Israeli army claimed an underground command-and-control center lay beneath the hospital. It released blurry satellite images of what it said was a tunnel entrance in the yard and a rocket launchpad nearby, outside the hospital compound.
The Indonesia-based group that funds the hospital denied any Hamas presence. “If there’s a tunnel, we would know. We know this building because we built it brick by brick, layer by layer. It’s ridiculous,” Arief Rachman, a hospital manager from the Indonesia-based Medical Emergency Rescue Committee, told the AP last month.
After besieging and raiding the hospital, the military did not mention or show evidence of the underground facility or tunnels it had earlier claimed. When asked if any tunnels were found, the military spokesman’s office did not reply.
It released images of two vehicles found in the compound—a pickup truck with military vests and a bloodstained car belonging to an abducted Israeli, suggesting he had been brought to the hospital on October 7. Hamas has said it brought wounded hostages to hospitals for treatment.
During the siege, Israeli shelling crept closer and closer until, on November 20, it hit the Indonesian’s second floor, killing 12 people and wounding dozens, according to staff. Israel said troops responded to “enemy fire” from the hospital but denied using shells. Gunfire over the next days hit walls and whizzed through intensive care. Explosions sparked fires outside the hospital courtyard where some 1,000 displaced Pal -
estinians sheltered, according to staff. The Israeli military denied targeting the hospital, although it acknowledged nearby bombardment may have damaged it.
For three weeks, wounded poured in—up to 500 a day to a facility with capacity for 200. Supplies hadn’t entered in weeks. Bloodstained linens piled up. Doctors, some working 24-hour shifts, ate a few dates a day. The discovery of moldy flour on November 23 was almost thrilling.
Without medicines or ventilators, there was little doctors could do. Wounds became infected. Doctors said they performed dozens of amputations on infected limbs. Medics estimated a fifth of incoming patients died. At least 60 corpses lay in the courtyard. Others were buried beneath a nearby playground.
“To see patients dying before your eyes because you don’t have the ability to help them, you have to ask yourself: ‘Where is humanity?’” asked Dergham Abu Ibrahim, a volunteer.
Kamal Adwan: ‘This makes no sense’
KAMAL ADWAN Hospital, once a linchpin of northern Gaza’s health system, was burning on Thursday of last week.
Israeli shells crashed into the third floor, igniting a fire that destroyed medical supplies, according to the World Health Organization, which had delivered the equipment just days before. The artillery hit water tanks and damaged the dialysis unit, badly burning four medics who tried to extinguish the blaze, said the hospital’s director, Hossam Abu Safiya.
In videos pleading for help over the past weeks, Abu Safiya had fought to maintain his composure as Israeli forces surrounded the hospital. But last weekend, there were tears in his eyes.
“Everything we have built, they have burned,” he said, his voice cracking. “They burned our hearts. They killed my son.”
On October 25, Israeli troops stormed the hospital after what an Israeli military official described as an intense fight with militants nearby. During the battle, Israeli fire targeted the hospital’s oxygen tanks because they “can be booby traps,” the official said.
Israeli forces withdrew after three days, during which Palestinian health officials said nearly all of Kamal Adwan’s medical workers were detained, an Israeli drone killed at least one doctor and two children in intensive care died when generators stopped working. Days later, a drone struck Abu Safiya’s son in nearby Jabalia. The
21-year-old had been wounded by Israeli snipers during the first military raid on Kamal Adwan last December. Now he is buried in the yard of the hospital, where just Abu Safiya and one other doctor remain to treat the dozens of wounded pouring in each day from new strikes in Jabalia.
The Israeli military said troops detained 100 people, some who were “posing as medical staff.”
Soldiers stripped the men to check for weapons, the military said, before those deemed militants were sent to detention camps. The military claimed that the hospital was “fully operational, with all departments continuing to treat patients.” It released footage of several guns and an RPG launcher with several rounds it said it found inside the hospital.
Kamal Adwan staff say more than 30 medical personnel remain detained, including the head of nursing, who is employed by MedGlobal, an American organization that sends medical teams to disaster regions, and Dr. Mohammed Obeid, the surgeon employed by Doctors without Borders who previously worked at al-Awda Hospital and had moved to Kamal Adwan.
The turmoil echoed Israel’s nine-day siege of Kamal Adwan last December. On December 12, soldiers entered and allowed police dogs to attack staff, patients and others, multiple witnesses said. Ahmed Atbail, a 36-year-old who had sought refuge at the hospital, said he saw a dog bite off one man’s finger.
Witnesses said the troops ordered boys and men, ranging from their mid-teens to 60, to line up outside crouched in the cold, blindfolded and nearly naked for hours of interrogation.
“Every time someone lifted their heads, they were beaten,” said Mohammed al-Masri, a lawyer who was detained.
The military later published footage of men exiting the hospital. Al-Masri identified himself in the footage. He said soldiers staged the images, ordering men to lay down rifles belonging to the hospital guards as if they were militants surrendering. Israel said all photos released are authentic and that it apprehended dozens of suspected militants.
As they released some of the men after interrogation, soldiers fired on them as they tried to reenter the hospital, wounding five, three detainees said. Ahmed Abu Hajjaj recalled hearing bursts of gunfire as he made his way back in the dark. “I thought, this makes no sense—who would they be shooting at?”
Witnesses also said a bulldozer
lumbered into the hospital compound, plowing into buildings. Abu Safiya, Abu Hajjaj and alMasri described being held by soldiers inside the hospital as they heard people screaming outside. After the soldiers withdrew, the men saw the bulldozer had crushed tents that previously sheltered some 2,500 people. Most of the displaced had evacuated, but Abu Safiya said he found bodies of four people crushed, with splints from recent treatment in the hospital still on their limbs. Asked about the incident, the Israeli military spokesman’s office said: “Lies were spread on social media” about troops’ activities at the hospital. It said bodies were discovered that had been buried previously, unrelated to the military’s activities. Later, the military said Hamas used the hospital as a command center but produced no evidence. It said soldiers uncovered weapons, but it showed footage only of a single pistol. The hospital’s director, Dr. Ahmed al-Kahlout, remains in Israeli custody. The military released footage of him under interrogation saying he was a Hamas agent and that militants were based in the hospital. His colleagues said he spoke under duress.
The fallout HAGARI , the military spokesperson, said hospitals “provide a life of their own...to the (Hamas) war system.” He said hospitals were linked to tunnels allowing fighters movement. “And when you take it, they have no way to move. Not from the south to the north.”
Despite often suggesting hospitals are linked to Hamas’ underground networks, the military has shown only one tunnel shaft from all the hospitals it raided—one leading to Shifa’s grounds. In a report last month, a UN investigation commission determined that “Israel has implemented a concerted policy to destroy the health-care system of Gaza.” It described Israeli actions at hospitals as “collective punishment against the Palestinians in Gaza.” Some patients now fear hospitals, refusing to go to them or leaving before treatment is complete.
“They are places of death,” Ahmed al-Qamar, a 35-year-old economist in Jabalia refugee camp, said of his fear of taking his children to the hospital. “You can feel it.”
Zaher Sahloul, the president of MedGlobal who has also worked in Gaza during the war, said the sense of safety that should surround hospitals has been destroyed.
“This war has become a scar in the minds of every doctor and nurse.”
A PALESTINIAN woman weeps over the body of a child as she sits beside the bodies of Palestinians killed by Israeli airstrikes in Jabaliya refugee camp, at the Indonesian hospital, northern Gaza Strip on November 18, 2023. AP/AHMED ALARINI
Holt steps up big time in Finals–Coach Tim
By Josef Ramos
BARANGAY Ginebra San Miguel clawed back with rousing victories over TNT Tropang Giga in the last two games that tied at 2-2 the Philippine Basketball Association Governors’ Cup Finals.
The reason for the comeback?
“The biggest key in the last two games was Stephen Holt,” said head coach Tim Cone on Monday, the day after the Gin Kings equalized with a lopsided 106-92 win in Game 4 at the Smart Araneta Coliseum. Holt became TNT import Rondae Hollis-Jefferson’s shadow the last two games and the result saw Ginebra sending the best-of-seven series to an anybody’s game.
“It was about the defense that he
played in the last two games, he’s a huge key why we are back in this series,” Cone said. “If Rondae’s very amazing, Stephen’s doing an amazing job as well.”
The numbers don’t pretty well show how Holt stopped Hollis-Jefferson in Games 3 and 4, but Cone was obviously referring to the intangibles the top rookie last year did on the TNT reinforcement.
Hollis-Jefferson had 19 points and 10 rebounds and 37 points, 13 rebounds and seven assists in TNT’s first two wins in the series.
In the last two games which Ginebra won, he made 24 points, 14 rebounds and seven assists and 28 points and nine rebounds—all looking like a normal day in the office for the conference’s back-toback Best Import. Holt, on the other hand, punched impressive stats of 18 points and five
NATIONAL University (NU) and University of Santo Tomas (UST) swept separate foes to complete the Shakey’s Super League Collegiate Preseason Championship semifinals cast late Sunday at the Rizal Memorial Coliseum. Veterans Bella Belen and Alyssa Solomon led the way for the twice-tobeat Lady Bulldogs in their dominant 25-12, 25-22, 25-17 victory over University of the Philippines (UP) in their quarterfinal clash. The Golden Tigresses, on the other hand, fought back from a six-point deficit in the third set to boot out the University of the East (UE) Lady Warrriors, 25-22, 25-21, 25-21, and forge a semifinals meeting with undefeated De La Salle University on Wednesday. Belen pounded nine attacks, two aces and a kill block for a game-high 12 points while Solomon scored 10 points as NU advanced to a third straight semifinals appearance.
The Lady Bulldogs hurdled a tough challenge thrown by the Fighting Maroons in the second set before cruising the rest of the way to set up an exciting knockout semis duel with unbeaten Far Eastern University on Saturday. “We don’t want our effort in training to go to waste. Why work so hard in practice and not apply what we do in an actual match?” said Solomon, the reigning tournament Most Valuable Player. NU and FEU will meet once again following the thrilling National Invitationals gold medal showdown that the Lady Bulldogs won last July. Middle blocker Kassandra Doering was the lone bright spot for UP, which was relegated to the classification round, with 10 points.
steals in Game 4, over and above his 12.75 points, 5.5 rebounds, 2.5 assists and 2.5 steals average in the series.
“It’s been the biggest challenge for me in this series to lock him [ up one-onone defense. It takes my aggressiveness offensively, but I was able to do my job tonight to limit him [Hollis-Jefferson] and make some big shots,” Holt said. “But the end of the day, it’s just our competitive spirit.”
“I just keep saying that don’t get discouraged if Rondae hits some big shots,” he said. “We just have to be humble but hungry.”
The two teams meet again in Game 5 at 7:30 p.m. on Wednesday and same time in Game 6 on Friday both at the big Dome.
Cone hopes to carry the momentum—which his TNT counterpart Chot Reyes said shifted to
PCanoe Kayak
Federation (PCKF) president Leonora Escollante has a grand plan on how Filipino paddlers could further excel in international play after the country’s emergence as the overall champion of the just-concluded International Canoe Federation (ICF) Dragon Boat World Championships in Puerto Princesa City.
“While I am proud of what we achieved at the worlds, I believe that there is still some room for improvement,” Escollante said on Monday. “There are so many aspects to improve on, that’s what we will work on so that our paddlers can be more competitive in international competition.”
Armed with months of intense training and cheered by a hometown crowd, the Filipino campaigners thrived and captured overall honors with a glittering haul of 11 gold, 20 silver and eight bronze medals for their best finish in the world meet sanctioned by the ICF. They relegated traditional regional power Thailand to second place with a tally of eight golds, while the squad composed of Individual Neutral Athletes were in third place with six gold,
the Gin Kings—in the next two games.
“We’re going to try to keep the momentum, but it looks like they may make a run out of this, maybe they chase the momentum, or we make big shots when we needed to, and it’s one of those games,” Cone said. “Every game is different and Game 4 was one of the games where we we hit the big shots.”
Justine Brownlee showed up with 34 points—15 in the first quarter, two fourpoint bombs and three three-pointers— to lead his team in Game 4. Maverick Ahanmisi and Japeth Aguilar posted 18 points and Scottie Thompson had 12 points in Game 4 for Ginebra.
Calvin Oftana finished with 26 points for TNT but couldn’t get their defense to work just like in their first two victories in the series where they kept Ginebra to below 90 points.
three silver and three bronze medals.
“I believe our athletes can deliver more as they work on the areas they can improve on because the proper technique and execution is already there,” said Escollante, a former longtime coach of the national dragon boat squad. “Among them is boosting their power and we can only do that with the proper nutrition and supplements. Power comes with the right nutrition.”
National coach Duchess Co and team skipper OJ Fuentes echoed Escollante’s views after the four-day competition supported by the Philippine Sports Commission, Tingog party-list, Puerto Princesa City government led by Mayor Lucilo Bayron and Lacoste watches.
“We practically have the same stroke and technique as our foreign rivals, but we lack power and that’s where nutrition sets in,” Co said.
“Build more muscles to get more power for the strokes,” said the 26-year-old Fuentes. “That’s the advantage especially of the Europeans, tough and strong.”
Escollante said that the federation needs support and financial resources not only from government but from the private sector to meet the nutritional requirements and other needs of the national paddlers to boost their competitiveness in overseas competitions.
UNIVERSITY of Santo Tomas’s Kyla Cordora beats the defense put up by University of the East ace Faye Gajero at the net.
ABy Aldrin Quinto
LAS PILIPINAS new guy Lerry John Francisco is determined to prove his worth as he makes his international debut in the Asian Senior Beach Volleyball Championships starting on Wednesday at the Nuvali Sand Courts in the City of Santa Rosa.
The 6-foot-1 Francisco is eager to deliver for flag and country while hoping to play to the standard of partner Rancel Varga when they battle some of the best teams in Asia and Oceania in the fiveday tournament.
“I will do everything I can, I will play my best and try to execute during the tournament everything I learned in
How I evolved
practice,” said the 26-year-old Francisco, noting the pressure and excitement of teaming up with one of the most established young players in the country will fuel his drive to perform well.
“He’s done quite a lot at the age of 24,” Francisco said of Varga, twice MVP in the University Athletic Association of the Philippines while at the University of Santo Tomas and silver medalist with Alas Pilipinas in the 2024 FIVB Volleyball World Beach Pro Tour Futures alongside James Buytrago.
“There’s pressure on me to perform, and I embrace it,” said Francisco two days before the first serve of the tournament hosted by the Philippine National Volleyball Federation and sanctioned by
the Asian Volleyball Confederation, both headed by Ramon “Tats” Suzara.
An Alas Pilipinas recruit following fine performances with the Coast Guard in the Philippine National Volleyball Federation Champions League and a local domestic commercial volleyball series, Francisco is also keen to repay Alas Pilipinas coaches’ trust—and Varga’s patience in training—as he plays in his first international tournament.
“It feels great to be given the chance to show what I can do, on a big stage like this, so I am seizing the opportunity,” Francisco added. Varga, for his part, had said he is not resting on his laurels. After the silver
Editor: Jun Lomibao
as the Philippines’ primary and only professional volleyball league.
medal finish with Buytrago, he was paired with Ran Abdilla in Qingdao in September and is now tasked to guide Francisco to deliver for Alas Pilipinas.
Also expected to shine in the 35-teams men’s competition are Buytrago and Ran Abdilla, two players from the four-man men’s beach volleyball team that bagged the bronze medal in the Southeast Asian Games last year in Cambodia. Abdilla and Butrago are among the 20 seeded pairs, with 15 other tandems battling in the qualifying rounds for the remaining four spots in the main draw.
Among those looking to enter the main draw are former Perpetual Help player Ronniel Rosales and Edwin Tolentino from the National University.
During the 2024-25 All-Filipino Conference press conference in Manila, Suzara expressed full support for the country’s premier women’s volleyball league, calling it the top organization in the nation. This acknowledgment underscores the PVL’s progression from its beginnings as the Shakey’s V-League in 2004 to becoming a professional league in 2021.
The league’s upcoming AllFilipino Conference will be its longest tournament to date, stretching over six months and aligning with the international FIVB calendar.
Sponsored by Arena Plus, Fabriano Appliances, Milcu, Watsons, iColor and Argan Beauty, this conference provides participating teams with a significant preparation period for future international tournaments, including the 2024 AVC Champions League in Seoul, South Korea. The champion of the All-Filipino Conference will also represent the Philippines in the AVC Champions League. To reduce financial stress on the competing club, the PVL will cover all travel and accommodation expenses, allowing the team to focus solely on the competition. Each team is permitted to recruit two foreign players thus enhancing the roster’s competitiveness as
STEPHEN HOLT provides the intangibles as Barangay Ginebra San Miguel levels the series.
