THE country’s trade deficit posted a double-digit increase in July, the highest in eight months, according to the Philippine Statistics Authority (PSA).
Based on the latest International Merchandise Trade Statistics of the Philippines, the country’s trade deficit widened by 18 percent in July 2024, the fastest increase in the trade gap since the 30.6 percent growth in November 2023. In absolute terms, the trade deficit expanded to $4.87 billion in July. As of July 2024, PSA said the total trade deficit of the country reached $29.91 billion.
“In June 2024, the trade deficit
recorded an annual increment of 9.8 percent, while an annual decrease of 31 percent was registered in July 2023,” the PSA added.
Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said the absolute amount of the trade deficit was also the largest since March 2023 when the deficit reached $5.018 billion.
“[This] largely reflected the faster growth in imports, which are also the highest in more than a year or since March 2023 amid the further recovery of the economy with no more Covid restrictions for more than a year already or since July 22, 2023,” Ricafort said.
Wednesday, September
“[The] stronger peso exchange rate made exports more expensive from the point of view of international buyers, thereby resulting in the slower year-on-year growth in exports,” he added.
The wider trade deficit was mainly due to lower exports compared to imports in July 2024. Exports posted a growth of 0.1-percent growth while imports grew 7.2 percent.
The country’s total exports amounted to $6.25 billion in July 2024 and was at $42.66 billion in the January to July period this year.
PSA said that total export sales contracted 17.3 percent in June
2024, while a 0.1 percent growth was recorded in July 2023. Imports, meanwhile, amounted to $11.12 billion in July 2024 and reached $72.57 billion in the January to July period this year. In June 2024 and July 2023, the import value recorded contracted 7.3 percent and 15.1 percent, respectively.
Products IN terms of products, PSA data showed shipments of electronic products to and from other countries dominated the country’s exports and imports in July 2024.
FDI INFLOWS DECLINE TO 4-YR LOW IN JUNE
By Cai U. Ordinario @caiordinario
JOB-GENERATING investments from abroad fell to its lowest level seen at the height of the Covid-19 pandemic four years ago, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
TBy Bless Aubrey Ogerio
THE Philippines has shown impressive innovation output despite limited resources, but progress in improving the quality of life remains slow,
Ria Liza Canlas of the National Innovation Council told the third National Agri-Aqua Technology Business Incubation Conference and Incubatee Summit at SMX Convention Center Clark on Tuesday.
“You could see that the PH is above this straight line
because there is seemingly a straight relationship between output and input. Filipinos seem to be very resourceful in such a way that they come up with many outputs compared with very limited input. That’s a mindset,” she said. In 2022, the Philippines ranked fifth in the Global Innovation Index (GII), which evaluates how countries perform in terms of innovation performance. However, it lags significantly behind regional
See “Innovation,” A2
HE Philippines continues to be saddled with development constraints that prevent it from posting long-term sustainable economic growth, according to the Asean+3 Macroeconomic Research Office (Amro).
In a statement after its Annual Consultation Visit to the Philippines, Amro said these risks were recently discussed withthe Bangko Sentral ng Pilipinas (BSP) and the Department of Finance (DOF). These are expected to persist even if the economy is expected to grow by 6.1 percent this year and 6.3 percent next year, while inflation will trend downward to 3.3 percent in 2024 and 3.1 percent in 2025.
“The country’s long-term potential growth could be constrained by insufficient infrastructure investment, vulnerabilities to climate change, and the prolonged scarring effects caused by the Covid-19 pandemic,” Amro said. Other vulnerabilities of the Philippines in the near-term were higher inflation, particularly from expensive food prices. This could dampen consumption in the country leading to slower GDP growth. Amro said the country’s growth could also be threatened by the slowdown in the United States, Euro area, and China which are among the top trade partners of
See “Amro,” A2
Comelec makes last call for Alice Guo to rebut COC case
By Justine Xyrah Garcia
HE Commission on Elec -
Ttions announced on Tuesday that it can only wait for dismissed Bamban, Tarlac mayor Alice Guo’s counteraffidavit until September 12. This decision came after Guo’s legal camp requested for a second extension last September 5 to answer the misrepresentation case filed against her, for claming she is a Filipino citizen in her certificate on candidacy in the 2022 elections. Senate probers have ferreted out evidence that indicate she was born in China and is a Chinese national, not Filipino, as she claimed in her COC.
“Natanong natin ang Law Department at minarapat nilang bigyan ng
the Philippines.
“Heightened geopolitical risks could increase the likelihood of global supply disruptions and further global economic fragmentation,” Amro said.
In order to address threats and cushion the impact of risks, Amro said there is room for the Monetary Board to adopt a less restrictive monetary policy stance provided that the current macroeconomic trends continue.
It would also be pruden, said Amro, for the national government to accelerate the
10 araw na palugit pa.… Tutal ito naman ay discretion nila, hindi natin pinigilan ito,” Comelec Chairman George Garcia said. (We consulted with our Law Department and they decided to grant an additional 10 days. Since this is within their discretion, we allowed it.)
Garcia emphasized that the commission is not giving Guo special treatment and remains impartial in its jurisdiction.
“Sa isang preliminary investigation, kahit ordinaryong kaso, iyon ay pinagbibigyan sapagkat kasong kriminal ang hinaharap ng tao. Again, binibigyan natin ng due process at ‘yan naman ay ginagarantiya ng saligang batas,” Garcia explained.
(In a preliminary investigation,
pace of fiscal consolidation if conditions allow. The Asean think tank, however, said the government is expected to continue its fiscal consolidation plans albeit at a slower pace to support GDP growth.
Further, as external shocks remain a possibility, the national government should aim to build resilience through the creation of fiscal space to these and elevated uncertainties.
“With regard to the financial system, the authorities should consider a more active use of macroprudential toolkits, strengthen the institutional framework to safeguard financial stability, and deepen the bond and repo markets,” Amro said. In terms of addressing structural
even in ordinary cases, we provide leniency because the individual faces criminal charges. We are ensuring due process, as guaranteed by the Constitution.)
Regardless of whether Guo submits her counteraffidavit on Thursday, Comelec’s law department plans to release its recommendation “more or less” by September 20.
Plea to candidates
WITH the filing period for the 2025 midterm elections fast approaching, Comelec hopes that the investigation into Guo will deter aspirants from following her path.
“Dapat yung mga filers ay pinagiisipan nang mabuti yung kanilang ilalagay; bagama’t ito’y isang pahina lamang, dapat po ay lagi nilang
issues, Amro said the government should implement measures on labor upskilling and reskilling to raise labor productivity.
Effort should be undertaken to attract foreign direct investments and encourage technology transfer. A comprehensive strategy for enhancing the country’s competitiveness should be implemented. This should include raising infrastructure investment, continuing digitalization, and developing a sustainable economy, is crucial to bolster the Philippines’ economic growth potential.
Meanwhile, Amro said the discussions focused on the risks and challenges facing the Philippines, and policy options to
FDI. .
Continued from A1
pag-isipan nang mabuti kung anong isusulat doon,” the chairman said.
(Candidates should carefully consider what they include in their one-page filing. They need to think thoroughly about what they write.)
Comelec also warned that those who falsify documents or misrepresent themselves could have their certificates of candidacy (COCs) rejected.
For the local, national, and parliamentary elections, the commission anticipates around 500,000 candidates vying for 18,721 government positions next year.
Garcia also noted that the COCs of all aspirants will be uploaded to the Comelec website to help voters be make an informed decision in the May 2025 polls.
sustain the growth momentum, anchor inflation expectations, restore fiscal buffer and address long-term structural issues.
This preliminary assessment was made by Amro during its Annual Consultation Visit to the Philippines from August 27 to September 6, 2024. The Amro team was led by Principal Economist Runchana Pongsaparn.
Amro Director Kouqing Li and Chief Economist Hoe Ee Khor participated in the policy meetings. They also met with Department of Finance Undersecretary Joven Z. Balbosa and Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila Jr. Cai U. Ordinario
Continued from A1
peers in key areas such as research and development.
“We could see that the Philippines has 173.6 [researchers] as compared to the country nearest to us, Vietnam [fourth place], 756.7. And yet, we compare ourselves to Thailand, they are way, way ahead of us. They have 2,069.9. This is not a really good figure,” the Po-Lite Technology, Inc. Founder explained.
Similarly, the Philippines’s gross expenditure on research and development is 0.3 percent of the gross domestic product, whereas Vietnam invests 0.4 percent while Thailand is 1.3 percent.
In the area of utility models, the Philippines scored 1.7, higher than Vietnam’s 0.3 but lower than Thailand’s 2.7: “We are always to be reminded of these figures because we want to be guided by these outputs so that we know to plan very well and make the Philippines, at least, higher in rank in the global innovation index,” she said.
She also pointed out that Republic Act 11293, or The Philippine Innovation Act, is intended to integrate a crucial element of the nation’s development strategies for inclusive progress and to elevate the status and competitiveness of micro, small, and medium enterprises (MSMEs).
The law includes provisions for a P1billion innovation fund and mandates banks to allocate 4 percent of borrowings to innovation. Current funding is only available to government agencies, but there are plans to extend this to MSMEs by 2025.
“The Council is now coming up with various policies such as increased investments and expenditures, establish an agile regulatory standard, implementation of reforms and formulate guidelines, and act policies that will improve competition and align education and human capital programs,” she explained.
Per Canlas, the Philippines aims to improve its global innovation ranking to 34th by 2032.
Ruben Carlo O. Asuncion told the BusinessMirror on Tuesday.
On a cumulative basis, FDI net inflows reached $4.4 billion in January to June 2024, higher by 7.9 percent than the $4.1 billion net inflows recorded a year ago.
Asuncion, however, expects FDIs to improve in the coming months given the decision of the Bangko Sentral ng Pilipinas (BSP) to enter its easing cycle.
The Monetary Board cut the country's key policy rates by 25 basis points to 6.25 percent in August, ahead of the United States Federal Reserve.
‘“This data was June, and we expect it to get better as we have seen so far this July-August, particularly, as BSP did a rate cut within the period mentioned,” Asuncion said.
“Overall, we expect a better second semester 2024 versus the first half due mainly to the expected dismantling of interest rate structures that have affected investment sentiment,” he added.
Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said the decline in FDI also occurred amid relatively higher inflation and geopolitical tensions in the Middle East and West Philippine Sea.
Ricafort said investors may have adopted a waitand-see attitude given these factors as part of their due diligence efforts when it comes to their investments globally.
“For the coming months, further cuts on BSP and
Exports of these products reached $3.25 billion or 52.1 percent of the country’s total exports during the period. Electronic exports, however, contracted 11.9 percent from the $3.69 billion posted in July 2023.
This was followed by other manufactured goods with an export value of $421.25 million or 6.7 percent of total exports and other mineral products with $259.93 million or 4.2 percent of the total.
There were also commodity groups that posted faster export growth in July. The top five fastest growing exports were Copper Concentrates with a growth of 491.8 percent, followed by Automotive Electronics with 132.1 percent.
Other commodities with the fastest export growth were the Other Coconut Products with 126.9 percent; Medical/Industrial Instrumentation, 124 percent; and Other Products Manufactured from Materials Imported on Consignment Basis, 98.7 percent.
In terms of imports, shipments of electronic products cost $2.53 billion or a share of 22.8 percent to the country’s total imports. Imports of electronic products grew 11.8 percent from $2.27 billion in July 2023.
This was followed by mineral fuels, lubricants and related materials at $1.44 billion or 12.9 percent of the total and transport equipment at $1.03 billion or 9.2 percent of the total.
The fastest growing imports in July were Other Special Transac -
“That would help spur greater global investments, business, and other economic activities worldwide, thereby would help boost FDIs, jobs/ employment, and overall economic/GDP growth, going forward,” he added.
Data from the BSP said nonresidents’ net investments in debt instruments fell by 30 percent to $213 million from $304 million in June 2023. These consist mainly of intercompany borrowing/ lending between foreign direct investors and their subsidiaries/affiliates in the Philippines.
BSP said the remaining portion of net investments in debt instruments are investments made by nonresident subsidiaries/ associates in their resident direct investors, i.e., reverse investment.
Equity capital placements in June 2024 were sourced primarily from Japan, the United States, Sweden, and Singapore. These were invested mainly to the manufacturing, real estate, wholesale and retail trade, and financial and insurance industries.
The BSP FDI statistics are distinct from the investment data of other government sources. BSP FDI covers actual investment inflows. By contrast, the approved foreign investments data that are published by the Philippine Statistics Authority, which are sourced from Investment Promotion Agencies, represent investment commitments, which may not necessarily be realized fully, in a given period.
tions, which posted a growth of 93.7 percent and Office and EDP Machines which grew 91.7 percent. The country’s imports of Iron and Steel also posted a growth of 57.9 percent; Consumer Electronics, 54.4 percent; and Metalliferous Ores and Metal Scrap, 35 percent.
Markets
THE United States and China were the country’s top export market and import source in July 2023, according to the latest data from PSA.
Exports to the US amounted to $1.06 billion or a share of 16.9 percent to the country’s total exports in July 2024. This was followed by shipments to Japan worth $872.43 million or 14 of the total, and the People’s Republic of China worth $791.29 million or 12.7 percent of the total.
Other top markets were Hong Kong where export sales amounted to $744.82 million or 11.9 percent of the total; followed by the Republic of Korea, with total shipments amounting to $305.17 million or 4.9 percent of the total.
The country’s largest supplier of imported goods, China, billed the Philippines $3.08 billion for shipments. This accounted for a total of 27.7 percent of the country’s total imports in July 2024.
Other top import sources in July were Indonesia, which amounted to $947.55 million or 8.5 percent of the total followed by Japan, $893.54 million or 8 percent of the total; Republic of Korea, $810.32 million or 7.3 percent of the total; and US, $675.58 million or 6.1 percent of the total. Cai U. Ordinario
Remulla appoints Viado as BI officer-in-charge
JUSTICE Secretary Jesus Crispin Remulla on Thursday designated Deputy Commissioner Joel Anthony M. Viado as the Bureau of Immigration’s officer-in-charge following the removal of former Commissioner Norman Tansingco.
Remulla said Viado, a lawyer, will be in charge of the day-to-day operations of the bureau, which is under the supervision of the Department of Justice.
“Viado’s designation will be effective immediately until a new Commissioner is appointed by the President,” Remulla said.
The appointment of an OIC, according to Remulla, is necessary to ensure that the services of the BI remain uninterrupted despite the change in leadership.
It was Remulla who recommended to President Marcos the firing of Tansingco after the latter failed to coordinate some of its actions with the DOJ.
Remulla expressed his disappointment over Tansingco’s “lack of action and failure to oversee and manage matters under his watch which led to various immigration concerns which have compromised national security.”
“This has been a big problem for the longest time, we have not been lacking in reminders to the Immigration Commissioner about these problems,” Remulla said.
He earlier explained that he was offended by the former BI’s chief failure to notify him immediately about the escape of dismissed Bamban, Tarlac, Mayor Alice Guo, her siblings Shiela and Wesley and Cassandra Li Ong, the official representative of raided Philippine Overseas Gaming Operator (Pogo) hub Lucky South 99 in Pampanga. Guo’s group were arrested by Indonesian authorities more than a month after they managed to leave the country despite the existing immigration lookout bulletin order (ILBO) against them.
Last August 1, Remulla also ordered the withdrawal of Tansingco’s 60-day deadline for foreign nationals in Philippine Offshore Gaming Operators (Pogos) and Internet Gaming Licensees (IGLs) to voluntarily leave the country following the decision of President Marcos to ban their operations in the country effective December 31.
The DOJ chief castigated Tansingco for his failure to notify the DOJ before announcing the deadline.
The BI was also recently criticized when some of its agents took photos and selfies with Guo following her arrest in Indonesia. Remulla has issued a show cause order seeking explanation from the BI officials involved.
THE local government of Canlaon City in Negros Oriental has ordered the mandatory evacuation of residents within the four kilometer permanent danger zone of Kanlaon Volcano owing to heightened seismic activity.
Canlaon Mayor Jose Chubasco B. Cardenas issued Executive Order 63 s. 2024 ordered the evacuation following the recommendation of the city’s Disaster Risk Reduction and Management Office which assessed the situation within the four-km permanent danger zone.
At the same time, the local chief executive suspended classes in all levels in schools located within the danger zone.
City Health Office officials on the other hand were mandated to distribute face masks to communities affected by volcanic ash being emitted by the restive Kanlaon, one of the country’s most active volcanoes.
On Tuesday morning, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported that Kanlaon Volcano, which straddles the provinces of Negros Occidental and Negros Oriental, is under close watch by volcanologists after it demonstrated increasing unrest since Sunday night.
Phivolcs said such restiveness of Kanlaon Volcano, which is under Alert Level 2 status, could eventually further increase leading to eruptions that could endanger lives in nearby communities.
Approximately 30 km southeast of Bacolod, the capital and most populous city of Negros Occidental and the whole Negros Island, Kanlaon Volcano is one of the active volcanoes in the Philippines, which lies in the Pacific Ring of Fire.
Phivolcs reported that a total of 228 volcano-tectonic or VT earthquakes have been recorded by the Kanlaon Volcano Network since 8:30 pm. Monday.
QC, Pasig RTCs issue conflicting rulings on Quiboloy’s detention
TThe events were generated at between 0 to 9 kilometers depth beneath the north-eastern flanks of the volcanic edifice and the strongest events were felt at Intensity II in some barangays of Canlaon City, Negros Oriental, Phivolcs said in its latest Volcano Bulletin issued at 11 a.m. Tuesday.
Phivolcs also said that rumbling sounds were reported by some residents of Bago City, while strong sulfur fumes have been reported in a few barangays in Bago, La Carlota and Canlaon Cities.
VT earthquakes are generated by rock fracturing processes and the increase in VT activity strongly indicates progressive rock-fracturing beneath the volcano as rising magma drives a path towards the surface.
“The public is reminded that Alert Level 2 [increasing unrest] prevails over Kanlaon, but that current seismic activity may lead to eruptive unrest and an increase in the Alert Level,” Phivolcs warned.
“The public is strongly advised to be ready and vigilant and to avoid entry into the four kilometer-radius Permanent Danger Zone [PDZ] to minimize risks from volcanic hazards such as pyroclastic density currents, ballistic projectiles, rockfall, and others,” the agency added.
Meanwhile, in case of ash fall that may affect communities downwind of Kanlaon’s crater, residents were advised to cover their nose and mouth with a damp, clean cloth or dust mask.
Civil aviation authorities must also advise pilots to avoid flying close to the volcano’s summit as ash and ballistic fragments from sudden eruptions can be hazardous to aircraft.
The communities living beside river systems on the southern and western slopes, especially those that have already experienced lahars and muddy streamflows, were advised to take precautionary measures when heavy rainfall over the volcano has been forecast or has begun.
By Joel R. San Juan @jrsanjuan1573
HE Regional Trial Court in Quezon City on Tuesday ordered the transfer of Kingdom of Jesus Christ leader Apollo Quiboloy and his four other co-accused from the National Police Custodial Center to regular jails in connection with the child abuse cases filed against them.
However, Branch 159 of the RTC in Pasig City, where Quiboloy and several others are facing the more serious and non-bailable offense of qualified human-trafficking, ordered their continued detention at the National Police Custodial Center in Camp Rafael T. Crame in Quezon City.
Reports also said that Quiboloy and his co-accused are set to ask the courts that they be detained at the Intelligence Service, Armed Forces of the Philippines (Isafp) headquarters at Camp General Emilio Aquinaldo, Quezon City.
However, the Armed Forces said on Monday it would decline requests to transfer custody to it of the embattled pastor, saying the National Police was better suited to handle custodial duties for alleged criminals.
In a one-page order, Judge Noel Parel of Branch 106 of the RTC in QC, directed the chief of the PNP’s custodial center to transfer and commit Quiboloy and coaccused Cresente Canada to the New Quezon City Jail on Payatas Road, barangay Bagong Silangan, Quezon City.
Quiboloy’s three female coaccused—Jackielyn Roy, Ingrid Canada and Sylvia Cemanes— were ordered to be transferred to the Quezon City Jail-Female Dormitory in Camp Tomas B. Karingal, Maginhawa Street, Diliman, QC.
The jail wardens of the two detention facilities were ordered to produce the accused on September 13, 2024 at 8:30 a.m. for the arraignment and pretrial via videoconference hearing.
The religious leader is also facing a sexual abuse case before another court in QC and qualified human trafficking case in the RTC in Pasig City.
In the US, Quiboloy is facing charges of conspiracy to engage in sex trafficking by force, fraud and coercion, sex trafficking of children, sex trafficking by force, fraud, and coercion, bulk cash smuggling and conspiracy in committing those alleged offenses.
Quiboloy has an active arrest warrant in the US issued on November 10, 2021, according to the Federal Bureau of Investigation, which put him on its Most Wanted List.
The KOJC leader has denied all these accusations and claimed that the cases were politically motivated.
Quiboloy and his co-accused
surrendered to Isafp senior officers after the National Police gave him a 24-hour ultimatum to give up or the building where he was believed to be holed out will be stormed by elite troopers. He went into hiding early this year to elude the arrest warrants issued by several courts against him and his co-accused.
Pasig court’s order AT Camp Crame, the spokesperson of the National Police, Col. Jean Fajardo said a Pasig court has also ordered that Quiboloy and the others remain at the PNP Custodial Center.
Fajardo said the cases that Quiboloy and companions face in two courts in QC were bailable and they just may post bail there and be freed.
“The National Police has no control over that issue...we just have to harmonize these court orders,” she added in Filipino. In addition to the conflicting detention orders, the RTCs in QC and Pasig also scheduled Quioboloy’s arraignment both on Friday morning. Thus, National Police sources said, Quiboloy and his companions will be taken to the Pasig court for the hearing and will be presented to the QC court through videoconferencing.
Law enforcers file charges vs Ong, 53 others in Porac Pogo hub raid
THE Presidential Anti-Organized Crime Commission (Paocc) and the National Police’s Criminal Investigation and Detection Group on Tuesday filed qualified human trafficking complaints before the Department of Justice (DOJ) against Cassandra Li Ong and 53 others involved in the raided Philippine Offshore Gaming Operation (Pogo) hub in Porac, Pampanga. Paocc spokesman Winston Casio told reporters that among the respondents are Ronelyn Baterna, the corporate secretary of the Lucky South 99, and some John and Jane Does.
Baterna is the subject of a writ of habeas corpus petition filed by his father Rogelio
Baterna against several congressmen who cited her in contempt and ordered her detention at the House of Representatives Custodial Center during the August 7 hearing of the chamber’s Quad Committee hearing on the alleged criminal activities linked to Pogos.
The Supreme Court, during a special session on Monday, directed the respondents, Reps. Robert Ace Barbers, Dan Fernandez, Antonio Ferrer, Joseph Stephen Paduano, Bienvenido Abante Jr., Aurelio Gonzales Jr. to file their comment to the petition within a non-extendible period of 10 days.
The Court also required the respondents to file a return under preliminary citation
within 72 hours from notice, explaining Ronely’s detention and why a habeas corpus writ should not be issued, without necessarily requiring the House to bring her to the Court.
In the complaint filed with the DOJ, authorities accused Ong, the official representative of Pogi hub Lucky South 99, and the other respondents were accused of violating Republic Act 9208, as amended by RA 10364, as further amended by RA 11862.
Other respondents in the case include Whirlwind Corporation Executive Duanren Wu, Lucky South former president Stephanie Mascarenas, representative Dennis Cunanan
Marcos transfers NIA to Office of the President
Pand several incorporators of Lucky South and Whirlwind Corporation, which leased the land where the former operates. The complaint was filed based on the testimonies of more than 10 witnesses who were allegedly victimized by Lucky South. Still pending with the DOJ is the complaint filed by the Paocc and the CIDG against dismissed Bamban, Tarlac, Mayor Alice Guo and several others over their alleged involvement in illegal Pogo operations in her town.
A complaint for money laundering has also been filed before the DOJ against Guo and several others. Joel R. San Juan
focus of the President,” Guillen said.
Based on NIA standards, he said high dams have a height of 100 meters.
By Ada Pelonia @adapelonia
RESIDENT Marcos transferred the National Irrigation Administration (NIA) from the Department of Agriculture (DA) to the Office of the President.
Executive Order 69 that mandated the transfer explained that there is a need to “streamline and rationalize the functional relationships of agencies with complementary mandates” to promote coordination, efficiency, and coherence within the bureaucracy.
The NIA would be attached to the OP for policy and program coordination. The NIA Board would also be reorganized under the order.
EO 69 said that the NIA Board would now be composed of the following: a representative of the OP; NIA Administrator, Department of Public Works and Highways (DPWH) Secretary; Agriculture Secretary; National Economic and Development (Neda) Secretary, and a representative from the private sector to be appointed by the President.
“Irrigation management and development is vital towards achieving food security and ensuring infrastructure development in the country, which are among the administration’s priority initiatives,” the order read.
In 2022, EO 168 transferred the NIA from the OP to the DA, directing the governance Commission for GOCCs to study the reorganization of the NIA Board of Directors.
Dam projects
IN March, NIA said four new high dams are set to be built until 2028 to help secure the country’s water needs and address flood control needs. (See: https://businessmirror.com. ph/2024/03/28/government-to-build4-new-high-water-dams-nia/)
NIA Administrator Eddie G. Guillen said the dams will be built in the Tumauini River, Panay River Basin, Ilocos Sur, and in Mindanao in line with the instruction of the President.
“Because as he said, if you have a high dam, you have irrigation, flood control, power generation, domestic water and aquaculture.
So what more can you ask for? You will get many returns if it is a high dam! So this is the
Go brings support to disadvantaged sectors
ON Monday, September 9, Sen. Christopher Go, personally visited Taysan, Batangas, to attend the Super Health Center inauguration and to aid displaced and disadvantaged workers at Taysan Municipal Gym.
During the inauguration of the Taysan Super Health Center, the senator highlighted his continuing advocacy for the establishment of Super Health Centers nationwide, which shall improve the healthcare system and bring primary care, consultations, and early disease detection closer to communities.
The Super Health centers are designed to offer various health services, such as
database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray and ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation centers, and telemedicine. Through the concerted efforts of Go, fellow lawmakers, the Department of Health (DOH) led by Secretary Teodoro “Ted” Herbosa, and local government units, adequate funding was allocated for establishing more than 700 Super Health Centers nationwide, including 18 in Batangas.
During their visit, Go and his Malasakit Team distributed grocery packs, snacks, and
shirts to 173 Barangay Health Workers and 44 Municipal Health Office staff in support and recognition of their crucial role in their community. Furthermore, Go lauded the local government for their efforts in bringing government services closer to their constituents, including Congresswoman Lianda Bolilia, Governor Dodo Mandanas, Vice Governor Mark Leviste, Board Member Melvin Vidal, Board Member JP Gozos, Board Member Jesus De Veyra represented by his son Pastor Eric De Veyra, Mayor Edilberto Adabay, Vice Mayor Luis Favorito, Former Board Member Caloy Bolilia husband of Congresswoman Lianda Bolilia, municipal councilors, among
Guillen noted that at least 20 high and medium-sized dams are expected to be completed by 2028. Ten of these will start construction this year.
Among those pending completion are dams that have been subjected to a catch-up plan through their design and build manual. These dams, the NIA official said, are scheduled to be finished this year.
“Our design and build manual shortened the implementation of the dam from conception to actual construction by three years,” Guillen said.
Aside from building new dams, he said the government is also targeting to rehabilitate major dams such as Magat and Pantabangan, which have existed for half a century.
others. Adabay warmly Go for his continuous support to the local community, underscoring the significant impact of Go’s initiatives. Meanwhile, through Go’s initiative of bringing government closer to the grassroots and in collaboration with various agencies, residents availed themselves of various government services, particularly 584 displaced workers who were oriented for the Department of Labor and Employment’s Tulong Panghanapbuhay sa Ating Disadvantaged/ Displaced Workers (TUPAD) program. Go also personally provided food packs, snacks, vitamins, shirts, masks, alcohol, basketballs and volleyballs to these beneficiaries while some of them also received bicycles, shoes, a mobile phone, and a watch.
Wednesday, September 11, 2024
Sara snubs House hearing on OVP’s budget
By Jovee Marie N. dela Cruz @joveemarie
ICE President Sara Duterte
Von Tuesday failed to attend the House of Representatives’ Committee on Appropriations hearing on the proposed 2025 budget of the Office of the Vice President prompting the panel to defer action on the proposal.
This marks the second postponement of discussions on the OVP’s budget request, which includes a P2 billion allocation, as Duterte and her office continue to face scrutiny from lawmakers over the management of public funds.
The OVP has become the only government agency whose proposed budget has not yet passed the House Committee on Appropriations.
Lawmakers described Duterte’s absence as “insulting to Congress and the people” of the Philippines. The OVP also failed to send any representative to present and defend their proposed budget for the coming year.
With this, the panel adopted the motion of House Assistant Majority Leaders Jil Bongalon to defer the termination of the deliberations of the proposed budget of the OVP, “subject to conditions either number one, reduce the proposed budget of the Office of the Vice President, and number two, place the certain funds on hold until further discussions are held, I so move.”
In a letter dated September 10, Duterte stated: “We defer entirely to the discretion and judgment of the Committee regarding our budget proposal for the upcoming year.”
She further explained that the OVP had submitted all necessary documentation to the Committee on
Appropriations, including a detailed presentation of the proposed budget for fiscal year 2025.
The absence of Duterte and other OVP officials follows the previous week’s deferment of the endorsement of the OVP’s budget owing to the Vice President’s refusal to answer lawmakers’ questions.
Despite this, Duterte maintained in her letter that she had already clarified her position during the previous budget hearing on August 27, 2024, saying, “I have also articulated my position on the issues outlined in my opening statement.”
Disrespectful to Congress and the Filipino people
THE chairman of the House Committee on Appropriation, Ako Bicol Rep. Zaldy Co, said that it is the duty of Congress to scrutinize the budget.
In exasperation, Co said he will recommend that funds proposed by the Office of Vice President for social services be transferred instead to line agencies like the Department of Social Welfare and Development and the Department of Education.
He criticized Duterte for her failure to answer legitimate questions during hearings and her absence from the latest budget hearing, calling it “disrespectful to Congress and the Filipino people.”
Co also brought up the issue of Duterte’s handling of confidential funds. He recalled a previous conversation with Duterte, during which she had assured him that she could justify the use of such funds.
However, Co expressed relief that he and other lawmakers did not approve the funds, citing the Commission on Audit’s (COA) findings that P73 million out of P125 million in confidential funds
were improperly spent in just 11 days.
“We should give this to the proper agencies, and we should not allow even a single centavo to be misused again,” he said.
Co also questioned why Duterte deserves to be entrusted with P2 billion for 2025, given her office’s track record of mismanagement and lack of transparency. “Why should she be trusted with this amount of money in 2025 after all these failures and irregularities?” Co asked.
House Assistant Minority Leader and Gabriela Rep. Arlene Brosas criticized the Vice President’s absence, calling it “an insult” to Congress and the Filipino people.
“She may not like our questions last hearing, Madam Chair. She may not like being questioned about the OVP expenses. She may not like sitting with us here in the House. But, Madam Chair, she is accountable to the people, and she has this sworn duty to the Constitution, being the head of the agency, to be here,” she added.
A visibly incensed Manila Rep. Bienvenido Abante manifested during the OVP’s budget hearing that the heads of agencies must be present during the deliberations of their funding for the next fiscal year.
“My goodness, I think her writing a letter to us telling us that she has completed, she still must be present,” Abante said.
“And I do not care even if she is the Vice President, Madam Chair. I will not allow that Congress will be insulted by the head of any agency,” he added.
Neglect
FOR his part, House Deputy Majority Leader Jude Acidre criticized Duterte for skipping the hearing, calling her absence a gross neglect of her constitutional duty to ensure accountability and transparency in the use of public funds.
“The Vice President’s deliberate snub of the budget hearing shows a blatant disregard for her constitutional duty to answer to Congress and the Filipino people. This isn’t just about skipping a meeting—it’s about intentionally avoiding accountability, which is fundamental to public service,” Acidre said.
“Public service is not a privilege; it is a responsibility. VP Sara’s absence is a remiss of her constitutional duty to ensure transparency and accountability in the use of taxpayers’ money,” Acidre stressed. “This act of dodging scrutiny undermines the very essence of democratic governance, which relies
on checks and balances.”
Acidre emphasized that, as the second-highest official in the country, the Vice President is expected to set an example of accountability.
Diverting
HOUSE Majority Leader Manuel Jose M. Dalipe accused Duterte of diverting attention away from the real issue of alleged mismanagement of Department of Education (DepEd) funds under her leadership.
In a statement, Dalipe criticized the Vice President for allegedly using “squid tactics” to avoid accountability regarding the unbuilt classrooms across the country.
“It seems the Vice President is pulling out all the stops to shift the spotlight, but the Filipino people are smarter than that. The real issue here is the glaring mismanagement of DepEd funds under her watch, where much-needed classrooms for our children were left unbuilt,” Dalipe said.
He stressed that instead of addressing the pressing needs of students who continue to study in overcrowded classrooms, the Vice President has been focusing on shifting the public’s attention elsewhere.
Dalipe emphasized that the funds allocated for classroom construction were released transparently, but the results have been lacking. “The truth is clear: the funds for classroom construction were allocated fairly and transparently, but where are the classrooms?” he questioned.
Meanwhile, House Deputy Minority Leader and ACT Teachers Rep. France Castro corrected what she described as the Vice President’s misconception regarding her appearance before Congress.
“We must correct the Vice President’s mistaken view that her appearance before Congress and the public to explain how she spent her past budgets and how she plans to use her proposed budget is an ‘opportunity’—one that she can choose to ‘forego’. She is wrong. It is her duty to answer our questions here, and this is not negotiable,” Castro said.
Castro emphasized that this obligation applies to every government agency, recalling an earlier objection raised when the OVP’s budget hearing was prematurely terminated. “There should be no sacred cows in budget hearings,” she argued, underscoring the importance of transparency and accountability.
“The OVP should be reminded that public office is a public trust. She should be faithful to that trust,” Castro added.
Use AI products and tools to make your job performance more effective!
By Henry J. Schumacher
HEY, all you AI product managers and aspiring AI-entrepreneurs! Looking for hot tips on what to build with AI? Today’s stories are for you!
1. Top 10 “high value” AI use cases that some of you would actually pay for:
We asked your colleagues what AI products don’t exist yet that they would actually pay for—call it our attempt to crowd-source “high value” AI ideas for all the AI companies who need to justify their expenses with real-world apps.
Here’s your top 10 AI product suggestions:
1. Comprehensive Data Protection: Identity theft protection, personal data removal, and privacy management—the bot would scrub your data from the web, summarize Terms of Service (ToS) agreements, and safeguard your digital footprint.
2. Financial Advisors: An intelligent stock and portfolio manager that analyzes market trends, optimizes investments, watches webinars + reads financial reports, and provides personalized financial advice.
3. Holistic Health Monitor: A personal healthcare assistant that tracks your diet, exercise, and even bodily functions, offering real-time recommendations for improving your overall well-being.
4. Empathy-Driven Content Generator: A service that creates and promotes factual content to decrease societal divisiveness and counteract the rage-driven engagement of current social media.
5. Advanced Medical Diagnostics: For accurate medical diagnoses based on patient imaging, lab tests, and physical/emotional assessments. This could extend to research for curing diseases and developing new drugs.
6. Intelligent CRM Assistant: Automatically updates your CRM system using data from LinkedIn and the web, keeping your contacts current across all your platforms.
7. Proactive Task Agents: Ondevice assistants capable of following complex instructions and carrying out tasks autonomously, adapting to your personal and professional needs.
8. Smart Consumer Advocate: A shopping agent that optimizes your spending by finding the best deals across online and brick-and-mortar retailers, factoring in sales, coupons, travel costs, and shipping to save you money.
9. Enterprise Sales Simulator: A system that generates on-demand digital twins of prospective buyers, allowing sales teams to practice and
refine their pitches for enterprise clients.
10. Comprehensive Virtual Private Assistant (VPA): A secure, offline assistant that manages your inbox, text messages, social media, and work personas, all while maintaining strict privacy.
Do you need advice regarding some of these AI product suggestions? Let me know: I will guide you.
Talking about the influence AI has on our jobs, allow me to add a second topic:
2. It’s looking increasingly more likely that AI won't lead to mass-unemployment, but mass “worker efficiency.”
You know the old AI adage, “AI won’t take your job, but someone who knows how to use it will”? That’s looking truer by the day. We found multiple examples of companies adding or re-skilling workers thanks to AI productivity gains:
n IKEA implemented a customerservice chatbot and retrained 8,500 employees for tasks like interior design advice.
n A Stanford study of 5,200 customer-support reps found AI increased productivity by 14 percent overall, and by 34 percent for the least skilled workers.
n Alorica introduced a new AI translation tool to help its reps communicate in 200 languages and is now “hiring aggressively.”
That last point is key: if productivity = growth, then growth = more jobs.
Think of it like this: previous historical breakthroughs (the steam engine, electricity, internet) all eliminated some jobs, but then created new ones. AI can handle enormous mountains of data and automate repetitive tasks, but it cannot replace the human touch, our empathy, our judgements and instincts.
So even if the job you have right now disappears, there will undoubtedly be new jobs in the future, and they will all require you to know how to use new tech. In that same spirit, below is a short list of AI tools to add to your workflow to speed up your efficiency today:
n Perplexity for search—in many cases, Perplexity might be faster for what you need than Google or ChatGPT. n Claude for project management + writing.
n Whisper for talk to text (dictation, transcription, etc)
n Midjourney or Ideogram for highquality imagery, and Topaz Gigapixel to upscale low-quality imagery.
n Dashworks or Guru to build an AI knowledge-base of all your apps + docs.
Why did I write this column? I want to inspire you to use AI products and tools to make you job performance more effective. If you need further advice, let me know. will try to find answers. Contact me at hjschumacher59@gmail.com.
15.
4.
substantial international experience and exposure to end-toend supply chain processes for industrial project, and special cargoes.
Salary Range: Php 150,000 - Php 499,999
Brief
17. PARDEEP KUMAR General
Brief
18. SANJEEV, KUMAR General Business Specialist
Brief Job Description: Identifying
19. SARPREET KAUR General Business Specialist
Brief Job Description: Identifying profitable business, negotiating and closing business goals.
20. SHARMA, ARTI General Business Specialist
Brief Job Description: Identifying profitable business, negotiating and closing business goals.
21. SUKHWINDER SINGH General Business Specialist
Brief Job Description: Identifying profitable business, negotiating and closing business goals.
22. ZHUO, FENG General Business Specialist
Brief Job Description: Identifying profitable business, negotiating and closing business goals.
23. HARRIS-JELLEY,
BusinessMirror
58.
59. SHI, YUYU
Software
Brief
60. HU, LONGHUI
Trade
Brief
MEAD JOHNSON NUTRITION (PHILIPPINES), INC. 2309, P. Tamo Ext, Magallanes, City Of Makati
61. BHATTI, MUHAMMAD SAFDAR ALI Regional Commercial Manager
Brief Job Description: Responsible for identifying business opportunities based on the gathered data and insights and create strategies to further boost sales and drive the business based on the business opportunities.
MERALCO POWERGEN CORPORATION 8th Flr. Tower I, Rockwell Business Center Ortigas Ave., Ugong,
KIYOSHI Fuel Supply Chain Management Head
Brief
NEW NAIA INFRA CORP. 40 San Miguel Avenue, Greenhills East, Wack-wack Greenhills,
PERFETTI VAN MELLE
developing PVM brands and for making recommendations to top management on investment and strategic partnerships for increased control and influence of PVM’s business.
POWERCHINA
of product from plans to actual construction is strictly implemented.
66. XI, WENXUAN Mandarin Quality Control Officer
Brief
Basic Qualification: College graduate, with extensive leadership experience, strong business background and excellent communication skills.
Salary Range: Php 500,000 and above
Basic Qualification: Must be knowledgeable in developing and reviewing project quality plans, contract documents and project specifications. Must have Knowledge to a wide range of construction materials, methods, and techniques.
Salary Range: Php 30,000 - Php 59,999
a wide range of construction materials, methods, and techniques.
Salary Range: Php 30,000 - Php 59,999
PRIME ENERGY RESOURCES DEVELOPMENT B.V. 17th-18th 19th & 20th Floor Asian Star Bldg, Asean Drive Filinvest, Alabang, City Of Muntinlupa
67. CLARK, DAVID MURRAY Project Logistics Lead
Brief Job Description: Accountable for building shared vision and mission and setting of long term goals for the project logistics organization.
Qualification: A minimum of 15 years international experience of Exploration, Drilling & Production Logistics, which includes at least 10 years’ experience in management roles. Must possess previous experience of implementing global OGP Standards (Aviation, Marine, Road Transport & Lifting & Hoisting) in remote locations. Must have extensive experience in Offshore
Israeli strike on Gaza humanitarian zone tent camp kills at least 40 people, Palestinians say
By Wafaa Shurafa & Samy Magdy The Associated Press
DEIR AL-BALAH, Gaza Strip—
An Israeli strike on a crowded tent camp housing Palestinians displaced by the war in Gaza killed at least 40 people and wounded 60 others early Tuesday, Palestinian officials said. Israel said it targeted “significant” Hamas militants, allegations denied by the militant group.
It was among the deadliest strikes yet in Muwasi, a sprawl of crowded tent camps along the Gaza coast that Israel designated as a humanitarian zone for hundreds of thousands of civilians to seek shelter from the Israel-Hamas war.
The Civil Defense, first responders operating under the Hamas-run government, said it recovered 40 bodies from the strike and was still looking for people. It said entire families were killed in their tents.
An Associated Press camera operator saw three large craters at the scene, where first responders
and displaced people were sifting through the sand and rubble with garden tools and their bare hands by the light of mobile phones. They pulled body parts from the sand, including what appeared to be a human leg.
Attaf al-Shaar, who was displaced from the southern city of Rafah, said the strike happened just after midnight and caused a fire.
“The people were buried in the sand. They were retrieved as body parts,” she told an Associated Press reporter at the scene. Nasser Hospital in Khan You -
nis, one of three hospitals to receive casualties, said around twodozen bodies were brought in from the strike.
The Israeli military said it had struck Hamas militants who were operating in a command-and-control center. It said its forces used precise munitions, aerial surveillance and other means to avoid civilian casualties.
Israel says it tries to avoid harming civilians throughout the war, which was ignited by Hamas’ October 7 attack. It blames Hamas for their deaths because the militants often operate in residential areas and are known to position tunnels, rocket launchers and
other infrastructure near homes, schools and mosques.
Hamas released a statement denying any militants were in the area. Neither Israel nor Hamas provided evidence to substantiate their claims.
The war has caused vast destruction and displaced around 90 percent of Gaza’s population of 2.3 million, often multiple times.
Israeli evacuation orders, which now cover around 90 percent of the territory, have pushed hundreds of thousands of people into Muwasi, a sprawling line of squalid tent camps along the coast.
Aid groups have struggled to provide even basic services in Muwasi,
and Israel has occasionally struck targets there despite designating it as a humanitarian zone.
Gaza’s Health Ministry says over 40,000 Palestinians have been killed in Gaza since the war began. It does not differentiate between fighters and civilians in its count.
Hamas-led militants killed some 1,200 people, mostly civilians, in their October 7 attack.
They abducted another 250 people and are still holding around 100 after releasing most of the rest in exchange for Palestinians imprisoned by Israel during a weeklong cease-fire last November. Around a third of the remaining hostages are believed to be dead.
The United States, Egypt and Qatar have spent much of this year trying to broker an agreement for a cease-fire and the release of the hostages, but the talks have repeatedly bogged down as Israel and Hamas have accused each other of making new and unacceptable demands.
The war has plunged Gaza into a humanitarian crisis, and humanitarian groups have struggled to provide aid because of ongoing fighting, Israeli restrictions, and the breakdown of law and order.
The international authority on the severity of hunger crises said in June that the territory is at high risk of famine.
The main United Nations agency providing aid to Palestinians said Israeli troops stopped a convoy taking part in a polio vaccination campaign for more than eight hours on Monday, despite it coordinating with the military.
UNRWA head Philippe Lazzarini said the staffers who were held had been taking part in the campaign in northern Gaza and Gaza City.
“The convoy was stopped at gun point just after the Wadi Gaza checkpoint with threats to detain UN staff,” he wrote on the social platform X. “Heavy damage was caused by bulldozers to the UN armored vehicles.”
He said the staff and the convoy later returned to a—base, but it was unclear if a polio vaccination campaign would take place Tuesday in northern Gaza.
The Israeli military did not immediately respond to a request for comment.
The vaccination drive, launched after doctors discovered the first polio case in the Palestinian enclave in 25 years, aims to vaccinate 640,000 children during a war that has destroyed the health care system.
Magdy reported from Cairo. Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.
Pope Francis’ East Timor final Mass draws 600,000
By Helena Alves, Nicole Winfield
& Niniek Karmini
The Associated Press
Tpeople, nearly half the population
ASITOLU, East Timor—
An estimated 600,000 people—a figure nearing half of East Timor’s population— packed a seaside park Tuesday for Pope Francis’ final Mass, held on the same field where St. John Paul II prayed during the nation’s fight for independence from Indonesia. While other papal Masses have drawn millions of people in more populous countries and there were certainly other nationalities attending Tuesday’s Mass, the crowd in small East Timor was believed to represent the biggest turnout for a papal event ever, in terms of the proportion of the population.
The Tasitolu Park was a sea of yellow and white umbrellas—the colors of the Holy See flag—as Timorese shielded themselves from the afternoon sun awaiting Francis’ arrival for the afternoon service. They got occasional spritzes of relief from water trucks that plied the field with hoses.
“We are very happy that the
pope came to Timor because it gives a blessing to our land and our people,” said Dirce Maria Teresa Freitas, 44, who arrived at the field at 9 a.m. from Baucau, more than seven hours early. Tasitolu is said to have been a site where Indonesian troops disposed of bodies killed during their 24-year rule of East Timor. Now it is known as the “Park of Peace” and features a larger-than-life-sized statue of John Paul to commemorate his 1989 visit, when the Polish pope shamed Indonesia for its human rights abuses and encouraged the overwhelmingly Catholic Timorese faithful.
John Paul’s visit helped draw attention to the plight of the Timorese people and the oppressiveness of Indonesia’s rule, during which as many as 200,000 people were killed over a quarter-century.
Francis was following in John Paul’s footsteps to cheer on the nation two decades after it became independent in 2002. East Timor, known also as Timor-Leste, remains one of the poorest countries, with some 42 percent of its
1.3 million people living below the poverty line, according to the UN Development Program.
But the Timorese are deeply faithful—the territory has been overwhelmingly Catholic ever since Portuguese explorers first arrived in the early 1500s and some 97 percent of the population today is Catholic. They have turned out in droves to welcome the first pope to visit them as an independent nation.
Government authorities said some 300,000 people had registered through their dioceses to attend the Mass, but President Jose Ramos-Horta said he expected 700,000 and the Vatican had predicted as many as 750,000.
Vatican spokesman Matteo Bruni cited crowd estimates by local organizers that 600,000 people were attending in the Tasitolu Park and surrounding areas. They lined up before dawn to enter the park, on the coast about 8 kilometers (nearly 5 miles) from downtown Dili. With hours to go until the service, the roads leading to it were jammed by cars, trucks and buses packed with people; others walked down the middle of the street, ignoring the sidewalks. Temperatures reached 31 degrees Celsius (88 degrees Fahrenheit), and felt even hotter with humidity over 50 percent.
“For us, the pope is a reflection of the Lord Jesus, as a shepherd who wants to see his sheep, so we come to him with all our hearts as our worship,” said Alfonso de Jesus, who also came from Baucau, the country’s second-largest city after Dili, about 128 kilometers (80 miles) east of the capital.
De Jesus, 56, was among the estimated 100,000 people who attended John Paul’s 1989 Mass, which made headlines around the world because of a riot that broke out just as it was ending. John Paul looked on as baton-wielding Indonesian plainclothes police
clashed with some 20 young men who shouted “Viva a independência” and “Viva el Papa!”
According to Associated Press reporting at the time, the men unfurled a banner in front of the altar and hurled chairs at police. One banner read “Fretilin Welcomes You,” a reference to the independence movement that fought Indonesian rule since East Timor was annexed in 1976 after Portugal dismantled its centuries-old colonial empire.
Four women were reported hospitalized with injuries suffered after being crushed in the surging crowd. The pope wasn’t harmed.
Amnesty International later expressed concern that some 40 people had been detained and tortured, though Indonesian authorities at the time denied any arrests or torture.
“The Mass was run very neat and orderly with very tight security,” De Jesus recalled more than three decades later. “But it was crushed by a brief riot at the end of the event.”
Many of the reports at the time quoted Dili Bishop Carlos Ximenes Belo in trying to draw attention to the plight of the Timorese people. Belo would go onto win the Nobel Peace Prize with Ramos-Horta for their efforts to peacefully resolve the Timorese conflict.
But Belo has since had his reputation discredited, at least outside of East Timor, after the Vatican revealed in 2022 that he had been sanctioned for sexually abusing young boys. Now living in Portugal and blocked by the Vatican from having contact with East Timor, Belo’s historic role has been seemingly erased from any official mention during Francis’ visit, even while ordinary Timorese still revere him as a hero.
AP researcher Randy Herschaft contributed from New York.
Huge Ukrainian drone assault hits Moscow region, killing one and damaging buildings
By The Associated Press
OVER 140 Ukrainian drones overnight targeted multiple Russian regions, including the capital Moscow and the surrounding areas, Russian officials
TRUCKS of humanitarian aids wait to cross the Rafah border crossing between Egypt and the Gaza Strip, in Rafah, Egypt on Monday, September 9, 2024. AP/AMR NABIL
UN chief calls the death and destruction in Gaza the worst he’s seen, offers to monitor cease-fire
By Edith M. Lederer The Associated Press
UNITED NATIONS—The
UN chief said Monday that the United Nations has offered to monitor any cease-fire in Gaza and demanded an end to the worst death and destruction he has seen in his more than seven-year tenure.
Secretary-General António Guterres said in an interview with The Associated Press that it’s “unrealistic” to think the UN could play a role in Gaza’s future, either by administering the territory or providing a peacekeeping force, because Israel is unlikely to accept a UN role.
But he said “the UN will be available to support any cease-fire.” The United Nations has had a military monitoring mission in the Middle East, known as UNTSO, since 1948, and “from our side, this was one of the hypotheses that we’ve put on the table,” he said.
“Of course, we’ll be ready to do whatever the international community asked for us,” Guterres said. “The question is whether the parties would accept it, and in particular whether Israel would accept it.”
Israel’s military assault on Gaza, triggered by Hamas’ attacks in southern Israel on October 7, has stretched for 11 months, with recent cease-fire talks failing to reach a breakthrough and violence in the West Bank reaching new highs.
Stressing the urgency of a ceasefire now, Guterres said: “The level of suffering we are witnessing in Gaza is unprecedented in my mandate as secretary-general of the United Nations. I’ve never seen such a level of death and destruction as we are seeing in Gaza in the last few months.”
The war has killed over 40,900 Palestinians, according to Gaza’s Health Ministry. The ministry, part of Gaza’s Hamas government, does not differentiate between fighters and civilians in its count though it says about half of the
dead have been women and children. Israel says at least 17,000 militants are among the dead.
The war has caused vast destruction and displaced around 90% of Gaza’s population of 2.3 million people, often multiple times.
Israel’s UN Ambassador Danny Danon reacted to Guterres’ comments saying, “It is disappointing to see the UN advocate for a cease-fire without mentioning the hostages and without condemning Hamas.”
“A cease-fire cannot—and will not—take place so long as our remaining hostages taken from us on October 7 remain in captivity in Gaza,” he said in a statement. “I urge the UN Security Council to urgently convene and condemn Hamas in the strongest possible terms and demand the release of all 101 hostages in Gaza.”
Israeli Prime Minister Benjamin Netanyahu and his government have accused the UN of being anti-Israel and have been highly critical of UN humanitarian operations in Gaza, including accusing UN workers of collaborating with Hamas. He also has voiced skepticism about peacekeeping missions, saying only Israel can protect itself.
Facing protests at home and increasing urgency from allies, Netanyahu has pushed back against pressure for a cease-fire deal and declared that “no one will preach to me.”
Looking beyond an agreement, Guterres stressed that a two-state solution to the decades-old IsraeliPalestinian conflict is not only viable, “it’s the only solution.” The United States and others
Israeli strikes in Syria leave 18 dead, dozens injured in large-scale attack
By Albert Aji & Abby Sewell
The Associated Press
MASYAF, Syria—The number of people killed in overnight Israeli strikes in Syria has risen to 18 with dozens more wounded, Syria’s health minister said Monday—the largest death toll in such an attack since the beginning of the war in Gaza.
One of the sites targeted was a research center used in the development of weapons, a war monitor said. Syrian officials said civilian sites were targeted.
Israel regularly targets military sites in Syria linked to Iran and the Lebanese militant group Hezbollah. Those strikes have become more frequent as Hezbollah has exchanged fire with Israeli forces for the past 11 months against the backdrop of Israel’s war against Hamas—a Hezbollah ally—in Gaza.
However, the intensity and death toll of Sunday night’s strikes were unusual.
There was no immediate comment from the Israeli military. Israel has carried out hundreds of strikes on targets inside government-controlled parts of war-
torn Syria in recent years, but it rarely acknowledges or discusses the operations. The strikes often target Syrian forces or Iranian-backed groups.
Israel has vowed to stop Iranian entrenchment in Syria, particularly since Syria is a key route for Iran to send weapons to Hezbollah.
Israeli strikes hit several areas in central Syria, damaging a highway in Hama province and sparking fires, Syrian state news agency SANA said. Speaking to reporters, Syrian Health Minister Hassan al-Ghabbash described the strikes as a “brutal and barbaric aggression.”
He said the death toll had risen to 18 with nearly 40 wounded.
The Syrian Observatory for Human Rights, a U.K.-based war monitor, said 25 were killed, including at least five civilians, while the others included Syrian army soldiers and members of Hezbollah and other Iran-linked armed groups.
One strike targeted a scientific research center in Masyaf, and other sites where “Iranian militias and experts are stationed to develop weapons in Syria,” the observatory said. It said the research center was reportedly used for developing
support Palestinian statehood in lands captured by Israel in the 1967 Mideast war, but Netanyahu, who is leading the most conservative government in Israel’s history, has opposed calls for a two-state solution.
Guterres asked rhetorically whether the alternative is viable.
“It means that you have 5 million Palestinians living there without any rights in a state,” he said. “Is it possible? Can we accept an idea similar to what we had in South Africa in the past?”
He was referring to South Africa’s apartheid system from 1948 until the early 1990s when its minority white population marginalized and segregated people of color, especially Black people.
“I do not think you can have two peoples living together if they are not in a basis of equality, and if they are not in a basis of respect— mutual respect of their rights,” Guterres said. “So the two-state solution is, in my opinion, a must if we want to have peace in the Middle East.”
The Palestinians have circulated a draft UN resolution demanding that Israel end its “unlawful presence” in Gaza and the West Bank within six months.
The proposed General Assembly resolution follows a ruling by the top United Nations court in July that said Israel’s presence in the Palestinian territories is unlawful and must end.
In the wide-ranging interview, the UN chief painted a grim global picture, saying, “Our world is in total disarray—I would say in total chaos.”
Conflicts are spreading and the most dramatic ones like Ukraine and Gaza have no end in sight, he said. Climate change is having devastating effects and artificial intelligence is developing without serious guardrails.
At the same time, Guterres said, “we see dramatic inequalities” and developing countries struggling, many submerged in debt and without resources to educate their children and or provide basic infrastructure.
The secretary-general has invited world leaders to a summit in the days before their annual high-level meeting at the
weapons, including short- and mediumrange precision missiles and drones.
Minister of Electricity Mohammad alZamel said the strikes had caused “truly significant” damage to water and electricity infrastructure.
“This brutal attack targeted civilian targets, and the martyrs were mostly civilians, as were the wounded,” he said.
Muhammad Sumaya, a firefighter with the Hama Fire Brigade, was wounded when shrapnel from one of the strikes hit his foot.
When the strikes began, he said while being treated in the Masyaf hospital Monday, “we moved from one place to another to deal with the fires and work to extinguish them.” While they were working, he said, “a missile landed right next to us.”
Azzam al-Omar, a SANA photographer, said he was hit by shrapnel in the chest when a missile landed while he was photographing the aftermath of a strike.
Local media also reported strikes around the coastal city of Tartous, which the observatory said were the result of air defense missiles falling.
On Monday afternoon, a charred car remained at the scene of one strike and smoke was still rising from some spots where fires had been put out.
Sewell reported from Istanbul. Associated Press journalist Samar Kassaballi in Damascus contributed to this report.
“The situation in Ukraine is stuck, and I do not see a cease-fire in the immediate future,” he said.
The secretary-general also said UN humanitarian operations are in crisis because needs have increased dramatically “with the
UN General Assembly later this month to recommit to working together to meet those challenges and reform multilateral institutions established after World War II, including the UN Guterres said Ukraine’s recent incursion into Russia’s Kursk region shows that the war, now in its third year, will not end quickly or easily.
proliferation of conflicts, proliferation of natural disasters, with climate change moving fast.” But funding has not.
Unfortunately, the priorities of the world’s leaders “do not correspond to the real needs of humankind at the present moment,” he said.
The Harris-Trump debate becomes the 2024 election’s landmark event
WBy Michelle L. Price & Zeke Miller
The Associated Press
ASHINGTON—Kamala
Harris and Donald Trump will meet for the first time face-to-face Tuesday night for perhaps their only debate, a high-pressure opportunity to showcase their starkly different visions for the country after a tumultuous campaign summer.
The event, at 9 p.m. Eastern in Philadelphia, will offer Americans their most detailed look at a campaign that’s dramatically changed since the last debate in June. In rapid fashion, President Joe Biden bowed out of the race after his disastrous performance, Trump survived an assassination attempt and both sides chose their running mates.
Harris is intent on demonstrating that she can press the Democratic case against Trump better than Biden did.
Trump, in turn, is trying to paint the vice president as an out-of-touch liberal while trying to win over voters skeptical he should return to the White House.
in the past six weeks, to a rare moment of sustained questioning.
“If she performs great, it’s going to be a nice surprise for the Democrats and they’ll rejoice,” said Ari Fleischer, a Republican communications strategist and former press secretary to President George W. Bush. “If she flops, like Joe Biden did, it could break this race wide open. So there’s more riding on it.”
Tim Hogan, who led Sen. Amy Klobuchar’s debate preparations in the 2020 Democratic presidential primaries, said Harris, a former California attorney general, would bring a “prosecutor’s instincts to the debate stage.”
Harris has sought to defend her shifts away from liberal causes to more moderate stances on fracking, expanding Medicare for all and mandatory gun buyback programs—and even backing away from her position that plastic straws should be banned—as pragmatism, insisting that her “values remain the same.” Her campaign on Monday published a page on its website listing her positions on key issues.
Venezuelan opposition leader Machado stands firm on presidential victory claim amid exile of candidate
CARACAS, Venezuela—Venezuelan opposition leader
Maria Corina Machado tried to reassure supporters Monday that her coalition still hopes to gain control of the presidency despite the departure into exile of their candidate Edmundo González Urrutia.
Machado’s group maintains that it has evidence that González won the July 28 presidential election by a wide margin against Venezuela’s authoritarian incumbent president, Nicolás Maduro, despite his claim to have won.
Their assertions stunned supporters and critics alike, because the National Electoral Council had declared Maduro the winner hours after polls closed, giving him a third six-year term set to begin on Jan. 10. The panel, stacked with ruling party loyalists, never released detailed vote tallies to support Maduro’s claim to victory.
The vice president, for her part, will try to claim a share of credit for the Biden administration’s accomplishments while also addressing its low moments and explaining her shifts away from more liberal positions she took in the past.
The debate will subject Harris, who has sat for only a single formal interview
Trump, 78, has struggled to adapt to Harris, 59, who is the first woman, Black person and person of South Asian descent to serve as vice president. The Republican former president has at times resorted to invoking racial and gender stereotypes, frustrating allies who want Trump to focus instead on policy differences with Harris.
“That is a very strong quality in that setting: having someone who knows how to land a punch and how to translate it,” Hogan said.
The first early ballots of the presidential race will go out just hours after the debate, hosted by ABC News. Absentee ballots are set to be sent out beginning Wednesday in Alabama.
Trump plans to hit Harris as too liberal TRUMP and his campaign have spotlighted far-left positions she took during her failed 2020 presidential bid. He’s been assisted in his informal debate prep sessions by Tulsi Gabbard, the former Democratic congresswoman and presidential candidate who tore into Harris during their primary debates.
The former president has argued a Harris presidency is a threat to the safety of the country, highlighting that Biden tapped her to address the influx of migrants as the Republican once again makes dark warnings about immigration and those in the country illegally central to his campaign. He has sought to portray a Harris presidency as the continuation of Biden’s still-unpopular administration, particularly his economic record, as voters still feel the bite of inflation even as it has cooled in recent months.
Trump’s team insists his tone won’t be any different facing a female opponent.
“President Trump is going to be himself,” senior adviser Jason Miller told reporters during a phone call Monday.
Gabbard, who was also on the call, added that Trump “respects women and doesn’t feel the need to be patronizing or to speak to women in any other way than he would speak to a man.”
His advisers suggest Harris has a tendency to express herself in a “word salad” of meaningless phrases, prompting Trump to say last week that his debate strategy was to “let her talk.”
The former president frequently plows into rambling remarks that detour from his policy points. He regularly makes false claims about the last election, attacks a lengthy list of enemies and opponents working against him, offers praise for foreign strongmen and comments about race, like his false claim in July that Harris recently “happened to turn Black.”
Harris wants to argue Trump is unstable and unfit
THE vice president, who has been the Biden administration’s most outspoken supporter of abortion access after the Supreme Court overturned Roe v. Wade in 2022, is expected to focus on calling out Trump’s inconsistencies around women’s reproductive care, including his announcement that he will vote to protect Florida’s six-week abortion ban in a statewide referendum this fall.
Harris was also set to try to portray herself as a steadier hand to lead the nation and safeguard its alliances, as war rages in Ukraine more than two years after Russia’s invasion and Israel’s war with Hamas in Gaza drags on with no end in sight.
She is likely to warn that Trump presents a threat to democracy, from his attempts in 2020 to overturn his loss in the presidential election, spurring his angry supporters to attack the US Capitol on Jan. 6, 2021, through comments he made as recently as last weekend. Trump on social media issued yet another message of retribution, threatening that if he wins he will jail “those involved in unscrupulous behavior,” including lawyers, political operatives, donors, voters and election officials.
Harris has spent the better part of the last five days ensconced in debate preparations in Pennsylvania, where she participated in hours-long mock sessions with a Trump stand-in. Ahead of the debate, she told radio host Rickey Smiley that she was workshopping how to respond if Trump lies.
“There’s no floor for him in terms of how low he will go,” she said.
AP Polling Editor Amelia ThomsonDeVeaux in Washington and Associated Press writers Thomas Beaumont in Las Vegas, Bill Barrow in Atlanta and Josh Boak in Pittsburgh contributed to this report.
Machado told an online meeting Monday of opposition leaders, reporters and others that her group still hopes to see Maduro leave office in January, even if for voters those hopes seem increasingly tenuous since González’s decision to flee into exile to Spain over the weekend.
She said the former diplomat could fulfill the role of opposition candidate “with much greater protection and security” from abroad. She herself has gone into hiding in the weeks since the election, while Maduro’s government has arrested more than 2,000 people and cracked down on demonstrations throughout the country protesting the election results.
“Nothing has changed,” she insisted from an undisclosed location in Venezuela.
González, 75, landed Sunday at a military airport near Madrid, accompanied by his wife and Spanish officials. His departure was announced late Saturday by Venezuela’s government, which days earlier had ordered his arrest.
González had not been seen publicly since the week after the vote, when he and Machado announced not only that their campaign had obtained vote tallies from over two-thirds of the electronic voting machines used in the election but also that they had published them online to show the world that Maduro had lost the contest.
González had never run for office before the presidential election. The leadership of the Unitary Platform opposition coalition chose him as candidate after the government banned Machado from running for office and did not allow her handpicked successor to register for the contest.
Machado became his key surrogate, and they campaigned together.
González said in a statement Monday that he is not motived by “personal ambition.” He wrote that he remains committed to “the realization of the popular will,” but he did not explain how he intends to continue to work toward that goal.
“My commitment is not based on personal ambition, this decision is a gesture that reaches out to everyone, and I hope that it will be reciprocated as such,” González said.
Machado told reporters that González is “Venezuela’s presidentelect” regardless of his location and will remain so “until the day he is sworn in as president.” She did not offer any details of the strategy that could lead to that result.
Experts from the United Nations and the Carter Center, which at the invitation of Maduro’s government observed the election, determined the results announced by electoral authorities lacked credibility.
In a statement critical of the election, the UN experts stopped short of validating the opposition’s claim to victory, but they said the faction’s voting records published online appear to exhibit all of the original security features.
Flooding kills more than 20 people in Morocco and Algeria
By Sam Metz The Associated Press
RABAT, Morocco—Torrential downpours hit North Africa’s normally arid mountains and deserts over the weekend, causing flooding that killed nearly two-dozen people in Morocco and Algeria and destroyed homes and critical infrastructure.
In Morocco, officials said the two days of storms surpassed historic averages, in some cases exceeding the annual average rainfall. The downpours affected some of the regions that experienced a deadly earthquake one year ago.
Rachid El Khalfi, Morocco’s Interior Ministry spokesperson, said in a statement on Monday that the government was working to restore communication and access to flooded regions in the “exceptional situation” and urged people to use caution.
In neighboring Algeria, which held a presidential election over the weekend, authorities said at least five died in the country’s desert provinces. Interior Minister Brahim Merad called the situation “catastrophic” on stateowned television. Algeria’s state-run news service APS said the government had sent thousands of civil protection and military officers to help with emergency response efforts and rescue families stuck in their homes. The floods also damaged bridges and trains.
Meteorologists had predicted that a rare deluge could strike North Africa’s Sahara Desert, where many areas receive less than an inch of rain a year. Officials in Morocco said 18 people were killed in rural areas where infrastructure has historically been lacking, and 56 homes collapsed. Nine people were missing. Drinking water and electrical infrastructure were damaged, along with major roads. Among the dead in the region, where many tourists go to enjoy desert landscapes, were foreigners from Canada and Peru.
CREATE MORE bill secures bicam approval
TBy Jovee Marie N. dela Cruz @joveemarie
HE congressional bicameral committee on Tuesday approved the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) bill, which seeks to lower taxes on domestic and foreign companies to 20 percent from 25 percent.
House Committee on Ways and Means Chairman Joey Sarte Salceda said the CREATE MORE bill was expected to be ratified by Tuesday.
The measure was approved on third and final reading in the Senate late Monday, paving the way for the bicameral panel to sit down.
According to Salceda, CREATE MORE builds on the progress of the CREATE Act and addresses emerging global economic challenges.
Salceda announced that the Senate has agreed to several key proposals from the House, includ -
ing extending tax refund eligibility to petroleum suppliers for all tax-exempt entities, allowing local government units to set the Registered Business Enterprise (RBE) local tax rate below 2 percent, and applying a 20-percent corporate income tax rate to both CREATE-era and CREATE MOREparticipating enterprises. Currently, excise tax refunds are only in effect on the basis of a 2021 Supreme Court ruling. The RBE local tax, meanwhile, is a tax rate in lieu of all local taxes and fees, minimizing the administrative burden and interface of registered firms with local government units.
Salceda also said the 20-percent corporate income tax rate will now be applied to all RBEs benefiting from the enhanced deduction regime. According to Sacleda, the manufacturing sector has earlier expressed a need for clarification, particularly regarding whether existing LGU rates would apply if they were lower than the proposed two percent rate in CREATE MORE.
“It’s also a big win for manufacturing. We solve their VAT issues, which cost some 120,000 jobs over the past three years. We also address the country’s high power cost with the additional or enhanced deduction on power cost, basically making power cheaper by around P3 per kwh for manufacturing,” he said.
Salceda noted the rapidly evolving global landscape since the enactment of CREATE, including
VP Sara told: Justify intelligence expenses or face graft raps
ICE President Sara Duterte
Vcould potentially face graft charges if she fails to justify the disallowed P73.2 million in intelligence expenses flagged by the Commission on Audit (COA), as well as the P12.3 billion in questioned expenditures from her tenure as secretary of the Department of Education (DepEd) in 2023, a leader of the House of Representatives said on Tuesday.
House Majority Leader Manuel Jose “Mannix” M. Dalipe has urged the COA to expedite its final report on these contentious disbursements along with its recommendations.
“More than just allegations of mismanagement, she may be held liable for graft, for possible violation of the anti-graft laws, if she cannot adequately explain and justify the adverse findings, and if the COA does not accept her explanations and justifications,” Dalipe said.
As it is, he said the COA has been asking VP Duterte to return the P73.2 million disallowed from her spending of P125 million in intelligence funds that were used up in just 11 days, or P11.36 million a day. He also pointed out that COA had previously required Duterte and other DepEd officials to reim -
City in 2025 and bring in $1 billion in investments next year, according to Tengco.
In May 2024, the integrated resort casino Solaire North was established in Quezon City.
“[This] has boosted economic activity and tourism, while setting the bar higher for world-class Filipino hospitality in the northern part of Metro Manila,” Tengco added.
Tengco said these projects will generate more job opportunities, boost tour -
burse the government P12.3 billion for expenses deemed illegal or invalid. Duterte served as DepEd secretary at the beginning of the Marcos administration until her resignation on July 19.
The COA’s audit of the P125million intelligence fund identified several irregularities, including delays in submitting liquidation reports, issues with notarization dates, and failure to provide required accomplishment reports promptly.
Dalipe stressed that the most concerning issue is the unexplained disallowance of over half of the confidential funds used by the OVP in 2022.
“This raises serious questions about the propriety of how these funds were used. The fact that P73 million was flagged means that the public deserves answers. If the Vice President’s office cannot explain or rectify these discrepancies, this could lead to more than just administrative penalties. It could point to criminal liability for graft,” he said. The COA’s audit also revealed ongoing scrutiny of the 2023 confidential fund liquidations, with two Audit Observation Memorandums (AOMs) issued for the first three quarters. While no official disallowance notices have been
ism and encourage more foreign investments in the country.
“While these expansions are expected to further increase our gross gaming revenues, they will also create a multiplier effect across various industries,” Tengco added.
The Pagcor chief credited the entry and operation of more integrated resort casinos in the country to the sustained growth of the Philippine gaming industry.
With this, Tengco expressed optimism that Pagcor is on track to hit its P335- billion industry GGR
issued yet, the AOMs indicate serious deficiencies that must be addressed to prevent future disallowances.
“No one, regardless of position, is above the law. If public funds were misused, we owe it to the Filipino people to hold those responsible accountable,” Dalipe stressed.
In calling on COA to make a concluding report accompanied by recommendations, Dalipe pointed out that in the past, the audit commission had submitted its final finding to the Office of the Ombudsman in the case of public officers unable to return suspended and disallowed expenses.
“So I am asking the COA to submit its final report to the Office of the Ombudsman and Congress ASAP. Its rules should apply to all public officers, regardless of rank,” he reiterated.
For his part, House Committee on Appropriations Chairman Zaldy Co asked Duterte to address these issues directly and stop resorting to “smokescreens” and “diversionary tactics” to avoid accountability.
Co also pointed to several concerns, including the misuse of P125 million in confidential funds, the poor performance of Filipino students in math and
target by the end of 2024. Pagcor recorded a 14.62-percent growth in its GGR, reaching P170.93 billion in the first half of 2024 from the P149.13 billion posted in the same period in 2023.
About P81.70 billion in gaming revenues was generated by Pagcor in the first quarter of 2024, up by 18.54 percent year-on-year from P68.92 billion.
In the second quarter of the year, Pagcor’s GGR reached P89.23 billion, 32.32 percent higher than the P67.43 billion GGR recorded in the same quarter a year ago.
the decline of China as the manufacturing hub, the introduction of a global minimum corporate tax, and rising global commodity prices due to ongoing conflicts.
“The global environment has also changed rapidly since the enactment of CREATE, particularly in three key areas: the rapid decline of China as the global manufacturing hub, the introduction of the global minimum corporate tax, and the increase in global commodity prices, particularly fuel, due to ongoing world conflicts. In this regard, we cannot afford to bungle our tax treatment of investors,” he said.
He stressed the importance of resolving any ambiguities in the CREATE Law to avoid misinterpretations in its implementing rules and regulations (IRR).
“That is why any ambiguity in the CREATE Law that has led to misinterpretations either in the IRR or in the application of the law must be resolved. The VAT regime must be simple, clear, and transaction-based. The incentive regime under the CREATE transition period must be without any ambiguity. And the VAT refund system must work,” he added.
Salceda also highlighted the need for an agile tax incentive approval mechanism while retaining government oversight.
“Our tax incentive approval mechanism must also be agile—
science under her leadership as DepEd Secretary, and allegations of spoiled food and corruption in the DepEd’s feeding programs.
Co questioned why Duterte deserves to be entrusted with P2 billion for 2025, given her office’s track record of mismanagement and lack of transparency. “Why should she be trusted with this amount of money in 2025 after all these failures and irregularities?” Co asked.
Based on its audit report on DepEd for 2023, the last full year VP Duterte headed the agency, the COA issued notices of suspension amounting to P10.1 billion, notices of disallowance totaling P2.2 billion, and notices of charges worth P7.38 million due to “noncompliance with existing laws and regulations.”
The COA said it had required “management,” meaning DepEd officials led by Duterte, to return the funds and that they had agreed to do so.
“We recommended, and the management agreed, to cause the immediate settlement of the suspensions, disallowances, and charges in accordance with the revised RRSA (Rules and Regulations on Settlement of Accounts),” the COA said in its report.
Jovee Marie N. Dela Cruz
Cebu Pacific echoed similar sentiments, stressing the importance of extensive consultations and preparation.
“To ensure a seamless transition with minimal disruption to passengers, a thorough consultative process and sufficient preparation time are essential for every terminal transfer,” the Gokongwei-led carrier said.
Citing its experience at Singapore’s Changi Airport, where discussions for terminal reassignment took a year, Cebu Pacific highlighted the importance of comprehensive planning to ensure minimal disruptions for passengers.
“If sufficient time and consultation are given, terminal transfers can be handled smoothly. With proper planning and open communication, airlines can successfully manage these transitions,” the airline noted. NNIC will take over the operations and maintenance of the Naia on Saturday.
while maintaining the government’s oversight of the process. That is why the power to grant incentives is being reverted to the Investment Promotion Agencies (IPAs), but the FIRB’s [Fiscal Incentives Rationalization Board] policy making and oversight functions are being maintained,” he said.
Salceda pointed out that while CREATE improved job creation in the services sector due to lower corporate income tax (CIT), the VAT-sensitive manufacturing sector has suffered due to deviations from legislative intent in the CREATE IRR. This has resulted in the loss of 41,840 more jobs annually since the issuance of these IRRs.
“High power costs are an existential threat to Philippine industries, especially in the manufacturing sector. Because we cannot afford to subsidize power costs as our neighbors do, an enhanced deduction for power costs will be more targeted towards those who need competitive power rates to create jobs,” he said.
Salceda expressed hope that President Marcos will sign the measure soon, considering his previous certification of urgency.
“It sustains the President’s very strong pro-investment record, and could cement his legacy as the President who fixed manufacturing,” said Salceda.
No facilities for Taylor Swift concert–DOT official
By Ma. Stella F. Arnaldo @akosistellaBM
Special to the BusinessMirror
ATOURISM official on Monday cited the lack of concert facilities as the reason for the Philippines’s inability to host the recent Taylor Swift Eras concert.
At the Economic Journalists Association of the Philippines (Ejap)-San Miguel Corp. Aviation Forum on Monday, Officerin-Charge for the Undersecretary of Tourism Development Planning of the Department of Tourism (DOT) Verna Buensuceso said, “We don’t have available facilities to host international events like that.” The pop star, however, has performed twice in Manila in 2011 at the Smart Araneta Coliseum and in September 2014 at the Mall of Asia Arena in Pasay.
Singapore was supposed to have paid Swift $2-3 million per day to perform exclusively in the city state for six nights, locking out other Southeast Asian countries like the Philippines. The funds came from the $383-million post-Covid tourism rehabilitation fund of Singapore government.
Buensuceso also told forum participants the DOT will not recalibrate its foreign arrivals targets from 2025 to 2028, despite the real possibility it will miss its 7.7-million target this year, which the agency has recently been describing as a “moving target.”
‘NTDP targets won’t be adjusted’
SHE said, “If you take a look also at the NTDP (National Tourism Development Plan 2023-2028), I think next year, the baseline [scenario target] will be something like 8.4 million. That one, I think, is something that, at the moment, achievable. We are not adjusting any targets whatsoever.”
Pressed further on what assumptions were made for this year’s arrivals that were probably too bullish, she explained, “There are certain headwinds that we have experienced, for example, geopolitical situations that are new developments that have come up, border control…. For example, our competitors in the region have instituted visa-free [entry policies] for some of our markets, but on the part of the Philippines, we are still in the process of putting together [policies] for ease of entry into the country.”
Buensuceso pointed out that it was
“much cheaper” for many tourists to travel to other countries than to the Philippines. “So these are certain situations and certain factors that were maybe, not considered when the original targets were done. But in terms of recalibration [of arrivals targets], this is something that perhaps can be looked into in the future, but at the moment, we are still keeping the targets.”
Under the baseline scenario or the most conservative targets under the NTDP, the Philippines is seen attracting 11.5 million foreign tourists by 2028, the last year of the Marcos Jr. administration. SoKor tourists top arrivals market IN a recent Senate hearing, DOT Undersecretary for Tourism Regulation Coordination and Resource Generation Shahlimar Tamano said arrivals in the Philippines this year will likely just be “5-6 million.” Separately, Tourism Secretary Christina Garcia Frasco has acknowledged the slow arrivals of Chinese tourists in the Philippines as among the reasons this year’s arrivals target will not be met. Almost 1.8 million mainland Chinese tourists visited the Philippines in prepandemic 2019. (See, “7.7-M arrivals goal now a‘moving target’—DOT,”in the B usiness M irror , August 20, 2024.)
Meanwhile, there were 4.08 million visitor arrivals in the Philippines as of September 5 this year, of which 3.75 million were foreign tourists, and the rest, at 326,154, were overseas Filipinos, or Philippine passport holders permanently residing abroad. The arrivals were 27-percent less than the 5.6 million who visited the Philippines from January to August 2019.
South Korea topped the list of arrivals this year with 1.09 million travelers, representing a 26.74-percent share of total. It was followed by the United States at 645,632, with a 15.82-percent share; Japan, 265,534 (6.51 percent); China, 243,263 (5.96 percent); and Australia, 168,964 (4.14 percent).
Arrivals from Taiwan reached 156,961, making it the sixth top market for the current period, and accounting for a 3.85-percent share of total arrivals in the Philippines. Canada followed with 146,850
PHOTO from the Facebook page of the House of Representatives
FAO report highlights PHL banana export success and domestic production challenges
AccOrding to a report by the Food and Agriculture Organization of the United nations, the cavendish bananas produced by the Philippines remain the preferred choice among its Asian neighbors. in its “Banana Market review 2023,” FAO said the Philippines supplied some 60 percent of Asia’s requirement for cavendish bananas (See, “FAO: Disease, logistics issues cut PHL banana exports,” BusinessMirror, July 29, 2024). The country remains as one of the world’s largest exporters of the yellow fruit, despite losing its number two rank to guatemala last year.
Bananas remained in high demand due to their affordability. The UN agency noted that global exports of bananas, excluding plantain, grew by 0.3 percent year-on-year to 19.3 million metric tons (MMT) in 2023, a positive performance compared with the 6 percent year-on-year decline in 2022. The world will continue consuming the fruit in huge quantities in the coming years, with the global banana industry expected to expand at a compound annual growth rate of 4.5 percent between 2022 and 2027, according to market intelligence firm Mordor Intelligence.
Although this forecast is favorable for the Philippine banana industry, the country may not be able to capitalize on export market opportunities unless it resolves the challenges faced by local producers. Efforts of the government to open up new markets are encouraging and the increase in the banana purchases of nontraditional buyers last year give exporters the hope that they will continue to earn more from the yellow fruit. However, a detail in the report released by FAO is worrisome and should be given due attention by policymakers.
The FAO report noted that “higher growth in quantities was hindered by a reduced availability of export supplies from key producing countries, especially from Colombia, Costa Rica, the Dominican Republic and, during the first nine months of the year, also the Philippines.” China, the European Union, Japan, the United Kingdom of Great Britain and Northern Ireland, which account for around 50 percent of global imports, received fewer supplies last year. More customers wanted to buy Philippine bananas in 2023, but there were fewer fruits available.
Citing official government data, FAO said that Philippine banana exports rose by 3.4 percent year-on-year to 2.3 MMT. The volume of shipments would have been higher had it not been for Fusarium wilt Tropical Race 4 (TR4), which affected as much as 18,000 hectares of plantations last year. The affected areas represent around 20 percent of the estimated 86,000 hectares of farms planted with Cavendish for export.
The race to reduce tariffs in major importing countries like South Korea should be complemented by the rollout of initiatives that aim to make banana production more efficient and cost-effective. The Department of Agriculture crafted a roadmap for the banana industry during the term of former President Duterte. Policymakers should reassess this matter and carefully identify which interventions they should actively pursue to assist the industry, especially small-scale growers, in combating pests and diseases and lowering production costs.
Lower inflation and growth
LMark Villar
THE BUILDER
Ower prices of goods and services are always a positive economic trend. They induce spending and investments—and boost the confidence of businessmen and traders.
A reduced inflation rate also perks up builders. The pressure on the costs of construction materials to rise, like cement, steel and labor, is lessened and gives them the momentum to push through early with their projects.
A more manageable inflation rate bolsters my confidence that the Philippine economy will have a strong fourth-quarter performance, backed by lower interest rates.
The Bangko Sentral ng Pilipinas’ decision to cut key interest rates, followed by the Philippine Statistics Authority’s announcement of a softened inflation rate last month, is a boon to the economy.
The Monetary Board, per BSP Governor Eli Remolona Jr., lowered the interest rates based on forecasts that inflation would trend downward to settle within the government’s target range of 2 percent to 4 percent, despite the July uptick.
Per the PSA report last week, inflation softened to 3.3 percent in August from 4.4 percent in July, aligning with expectations. The figure brought the average inflation for
dthe first eight months of 2024 to 3.6 percent, also within the government’s target range.
The National Economic and Development Authority (Neda) believes both households and businesses will benefit from easing inflation, which supports increased consumer spending and stimulates economic activity.
PSA Undersecretary Claire Dennis Mapa reported that prices of several food products and transportation declined in August, contributing to the lower overall inflation. Food inflation decelerated to 4.2 percent from 6.7 percent in July, primarily due to a significant drop in rice prices to 14.7 percent from 20.9 percent.
Food is the biggest contributor to the basket of goods used to compute the inflation rate. It constitutes 51.4 percent of the consumption of the bottom 30 percent of Philippine households.
Economists expect inflation to further decline in the coming months with the reduction in rice import tariffs. President Ferdinand Marcos Jr. issued Executive Order 62 in June to reduce the rice tariff from 35 percent
A lower inflation rate, coupled with a stable peso-dollar exchange rate, boosts the purchasing power of consumers. It also makes businesses more confident in making additional investments and hiring more employees. It leads to lower interest rates, making it cheaper for businesses and households to borrow money.
to 15 percent. According to Neda Secretary Arsenio Balisacan, the moderation in inflation would encourage investments, especially as borrowing costs are declining. “Most importantly, the appetite for business expansion will improve as consumer spending increases,” he said.
I also believe that the recent appreciation of the peso against the US dollar contributed to lower inflation.
A strong peso minimizes the impact of imported inflation, such as the prices of petroleum and food products. We are a net importer of fuel and food items, such as rice, milk and meat.
I hope that the BSP, the main agency in charge of ensuring price stability, will continue to keep the foreign exchange rate stable in the coming months. Aside from the currency exchange rate, the BSP monitors liquidity or money circulation to ensure it supports demand without causing inflationary pressures.
The BSP ended its monetary tightening cycle in August, anticipating that inflation would ease in the second half of 2024. Its risk-adjust-
ed inflation forecasts for 2024 and 2025 now stand at 3.3 percent and 2.9 percent, respectively, which are within the target range. According to the BSP, the balance of risks to the inflation outlook continues to lean toward the downside for 2024 and 2025, which are primarily linked to lower import tariffs on rice.
If our gross domestic product (GDP) grew 6.3 percent amid elevated inflation and interest rates, I believe it will perform better in the third and fourth quarters amid a more stable price environment, achieving the government’s target of 6 percent to 7 percent for the year.
A lower inflation rate, coupled with a stable peso-dollar exchange rate, boosts the purchasing power of consumers. It also makes businesses more confident in making additional investments and hiring more employees. It leads to lower interest rates, making it cheaper for businesses and households to borrow money.
I hope the government will match the increased private sector and household spending in the coming months by ramping up its infrastructure projects including railways, roads and flood-control projects. This will lead to higher investments and employment. An efficient transportation system contributes to lower inflation and supports a stable economic environment that benefits both businesses and consumers.
For feedback e-mail to senatormarkvillar@
Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila
eFLATiOn stalking china since last year is now showing signs of spiraling, threatening to worsen the outlook for the world’s second-largest economy and raising calls for immediate policy action.
Data released Monday confirmed that apart from food costs, consumer price growth barely registered in large swathes of the economy at a time when incomes are sagging.
A broader measure of economywide prices known as the gross domestic product deflator will likely extend its current five-quarter drop into 2025, according to Bloomberg Economics and analysts at banks including BNP Paribas SA. That would amount to China’s longest streak of deflation since data began in 1993.
“We are definitely in deflation and probably going through the second stage of deflation,” said Robin Xing, chief China economist at Morgan Stanley, citing evidence from wage
decreases. “Experience from Japan suggests that the longer deflation drags on, the more stimulus China will eventually need to break the debt-deflation challenge.”
The danger for China is deflation could snowball by encouraging households reeling from falling paychecks to cut back on spending, or delay purchases because they expect prices to fall further. Corporate revenues will suffer, stifling investment and leading to further salary cuts and layoffs, bankrupting families and firms.
Private surveys show that’s already starting to happen. In sectors of the economy favored by the government—such as electric vehicle manufacturing and renewables—
entry-level salaries declined by almost 10 percent in August from a peak in 2022, according to findings by Caixin Insight Group and Business Big Data Co.
A survey of 300 company executives by the Cheung Kong Graduate School of Business showed growth in labor costs last month was the weakest since April 2020, when China’s initial Covid lockdowns began to ease.
Separate data from Zhaopin Ltd. shows average hiring salaries in 38 major cities barely changed in the second quarter, in contrast to the 5 percent growth seen in the two years before the pandemic.
It’s a cycle the world has seen before in Japan starting in the 1990s during a period that came to be known as its “lost decades”—when a grinding stagnation followed a burst bubble in real estate and financial markets. While Chinese officials have
sought to stifle discussion about deflation, warning analysts to avoid using the term, it’s beginning to enter public dialogue. Former central bank Governor Yi Gang last week said rooting out deflation has to take priority for policymakers, a rare admission by a prominent figure in China that falling prices are threatening the outlook.
Yi called for “proactive fiscal policy and accommodative monetary policy” and said officials “should focus on fighting deflationary pressure,” at a panel discussion at the Bund Summit in Shanghai on Friday. China’s immediate goal should be to turn its GDP deflator positive in the coming quarters, he said. So far, officials have given no sign of any significant shift from their cure-all of encouraging production rather than addressing weak demand with steps such as greater governSee “China,” A13
Ambassador Antonio L. Cabangon Chua
2005
Kim Jong Un vows to increase nuclear weapons exponentially
By Soo-Hyang Choi
NoRth Korea’s leader vowed to bolster his nuclear weapons capabilities exponentially and prepare his troops for combat as he accused the US and its allies of expanding a “nuclearbased military bloc” in the region.
In a speech marking the 76th founding anniversary of his country, Kim Jong Un said he’ll get his nuclear force “fully ready for combat” and there’s no limit to how much he’ll expand his military muscle, official Korean Central News Agency reported on Tuesday.
“We are now perfectly carrying out the policy on building the nuclear armed forces on increasing the number of nuclear weapons by geometrical progression,” Kim said, characterizing the task as a “duty and right to existence.”
The pledge comes as Pyongyang seeks to counter South Korea’s moves to strengthen its defense partnership with the US and Japan after the three nations signed a pact on military training in July. The agreement built on a major trilateral summit hosted by President Joe Biden at Camp David in August of 2023. North Korea last month said it would deploy to frontline military units 250 new mobile launchers for ballistic missiles that can deliver nuclear strikes on its neighbor to the south and US forces stationed there, in one of its biggest displays of its rocket prowess under Kim. It followed the missile initiative by unveiling new suicide attack drones.
North Korea may be considering a nuclear test near the time of the November US presidential election to raise its profile, South Korean President Yoon Suk Yeol’s national security adviser Shin Wonsik said in July, when he was serving as defense minister.
In his remarks this week, Kim said North Korea “secured wonderful military strength by making important achievements” in “recent months,” without elaborating.
On Sunday, North Korea unveiled a new 12-axled missile launcher, generating speculation over a new
ment spending on public services and consumer subsidies.
In a sign price pressures are becoming even more subdued, China’s core inflation—which strips out volatile items such as food and energy—cooled in August to the weakest in more than three years. Expectations for deflation are spilling into markets, stoking a bond rally that’s sent yields to record lows and stoked official concerns that banks have become too exposed to interestrate risks.
The weak price pressures are evident in the growth pace of China’s nominal GDP, which expanded just 4 percent in the second quarter— well under the nation’s real economic growth goal of around 5 percent this year.
At times of weak price gains, nominal expansion is a more useful indicator because it better reflects changes in wages, profits and government revenue, Luo Zhiheng, chief economist at Yuekai Securities Co., wrote in a note earlier this month.
For Jack Liu, a 37-year-old sales engineer of aluminum products in southern China, the impact hit home after realizing he no longer ordered extra eggs at breakfasts.
Plummeting market demand forced his company to cut prices and sell at a loss last year. That slashed his income to less than a 10th of what once exceeded 1 million yuan ($141,000), making mortgage payments a struggle.
“The country doesn’t admit there’s deflation,” said Liu, who lives in Foshan in Guangdong province.
World’s top oil traders see boom years fade as volatility tanks
By Archie Hunter, Devika Krishna Kumar & Serene Cheong
thE world’s top commodity merchants are grappling with a tougher environment for trading oil as seismic market events of the past few years start to lose their impact.
North Korea last month said it would deploy to frontline military units 250 new mobile launchers for ballistic missiles that can deliver nuclear strikes on its neighbor to the south and US forces stationed there, in one of its biggest displays of its rocket prowess under Kim. It followed the missile initiative by unveiling new suicide attack drones.
intercontinental ballistic missile.
North Korea has lashed out at joint military drills between the US and South Korea and sent thousands of trash-laden balloons across the border in recent months.
“The DPRK will steadily strengthen its nuclear force capable of fully coping with any threatening acts imposed by its nuclear-armed rival states,” Kim said, using the acronym for the North’s official name, the Democratic People’s Republic of Korea.
On the economy, Kim said crop harvests have been good so far this year despite severe flood damage in the northern region.
The city of Sinuiju, a trade hub connected to China by bridge, and the nearby county of Uiju were hit by torrential rains and floods in the last week of July. The downpours damaged about 4,100 homes, swept over roads and rail links, and wiped out about 3,000 hectares (7,410 acres) of farmland, according to North Korean state media reports. The exact number of casualties was not immediately known, but South Korean media outlets have said at least hundreds were estimated to have been killed, citing government sources they did not identify. North Korean media hasn’t mentioned any deaths. Bloomberg
He has a modest following of 1,100 people on the Instagram-like Xiaohongshu, where he warns regularly about the danger of deflation.
The speed of the deterioration in China’s price outlook has taken the market by surprise.
Inflation was weaker than forecast in three of the past four months, growing just 0.6 percent in August— an increase due largely to a 2.8 percent pickup in food prices. Core inflation last month rose just 0.3 percent to remain below 1 percent for an 18th month.
Underscoring the drag on inflation, producer prices have been falling since late 2022. Manufacturers’ raw material and selling prices both contracted for the second month in August, official data shows, while charges by services and construction companies shrank at the fastest pace since April 2020.
The dilemma is that even monetary expansion in China could be deflationary by being mainly directed at the supply side of the economy, Michael Pettis, a senior fellow at the Carnegie Endowment for International Peace, wrote in an article last month.
Meanwhile, the deflationary mindset is starting to take hold.
Consumer confidence is hovering at a record low, and households report a growing willingness to save instead of spending or buying homes.
For Liu, the aluminum industry worker, as the pain deepens, the solution lies with policymakers in Beijing. “The government needs to at least take some concrete measures,” he said, “to lift consumption and improve people’s expectations.” With assistance from Fran Wang /Bloomberg
The slowdown is being felt everywhere, from the likes of Glencore Plc and Gunvor Group—where profits are down—to hedge fund boss Pierre Andurand, who ditched oil trades for bets on copper and cocoa. While industry titans are still profitable, these are no longer the blockbuster figures banked since 2020.
Back then, oil prices briefly flicked into negative territory when Covid-19 trashed demand at a time when Saudi Arabia-led Opec was maintaining high levels of supply. Just under two years later, Russia invaded Ukraine bringing rich pickings as futures surged and diesel spreads boomed. Now, the volatility that’s the lifeblood of trading has been depressed because the market has absorbed those issues.
“The markets over the past several years were trending markets,” said Kurt Chapman, the former head of crude oil at Mercuria Energy Group, who now heads up the oil division at Levmet UK Ltd. “Whether they were massively bearish because of Covid and physical traders could store barrels, or going the other way with Ukraine. This year has been a challenging year because there hasn’t
been obvious physical trading opportunities.”
So far in 2024, price swings have been significantly more muted than in years past, even in the face of crude’s recent slump toward $70. Brent futures are— for now—heading for the smallest annual price range since 2004 while a gauge of market volatility touched its lowest in almost a decade earlier this year.
That’s fueling a shift away from surfing big bets on derivatives. The traders are instead hiring more people who specialize in winning new business. There’s also a fresh push into acquiring assets like refineries and tankers that can give merchants an edge.
As oil traders descend on Singapore this week to strike deals during one of the biggest weeks in the industry calendar, the tough trading environment is a key conversation topic. Another, though, is the change to oil flows around the world as a result of global conflicts.
G-7 sanctions on Russia in response to the war have cut the amount of barrels that the big traders were willing to buy and sell. How-
ever, those same barrels—which once would have gone to refineries in Europe—are still finding their way to customers in Asia, often at knockdown prices that the traders must compete with.
Merchants also have to cope with competition from increasingly sophisticated competitors. China has seen an increase in so-called term supplies from Saudi Arabia into the likes of Rongsheng Petrochemical, in which Saudi Aramco recently took a stake. The kingdom has also taken shares in other Chinese refining assets, giving it a toehold in a key demand center.
“A lot of the organizations that have historically relied on traders to supply or off take their oil have been building up commercially,” said Roland Rechtsteiner who heads up McKinsey & Company’s commodity trading and risk practice. “While that adds liquidity and more counterparties, it’s certainly making the ability for merchant traders to access new flows more difficult.”
Lower profits
THE tougher market environment can already be seen in published earnings.
“It’s a little bit of a challenging environment,” Törnqvist said in an interview in Singapore, discussing the wider oil market.
The firm is trading more partly in an effort to counteract the tough market. Gunvor’s latest financial results show it has increased the volumes of crude and oil products it trades to record levels in the first half of the year.
A Swiss oil trading pod of Freepoint Commodities LLC saw significant drawdowns earlier this year before traders departed, according to a person familiar with the matter. Freepoint declined to comment.
Trafigura Group, another major merchant, saw its profit decline 73 percent in six months through March, although it doesn’t split out how its oil business performed. Ben Luckock, the firm’s head of oil, said that the lack of a trend, and rangebound crude, mean it hasn’t been “particularly easy to trade.”
Vitol Group, the largest independent oil trader, doesn’t publicly report half yearly profits. However, Chief Executive Officer Russell Hardy said in an interview in Singapore that volatility has diminished.
“Volatility has reverted back much closer to the mean,” Vitol’s Hardy said. “Opportunity within trading companies has some proportionality to that.” With assistance from Alex Longley and Jack Wittels /Bloomberg
The energy division at Glencore notched its lowest half yearly profits since 2018 due to lower margins trading oil and coal. Meanwhile at Torbjörn Törnqvist’s Gunvor—the firm’s shipping and freight division was a bigger contributor to earnings.
UK can tax wealthy to close £20 billion fiscal gap, report says
By Tom Rees & Philip Aldrick
UK Chancellor of the Exchequer Rachel Reeves could push through over £20 billion ($26 billion) of tax hikes at the upcoming budget without breaking any election pledges by targeting inheritances and capital gains, according to the Resolution Foundation.
Reeves is under pressure to plug what she claims is a £22 billion fiscal hole left by the previous Conservative government. However, her hands are tied by Labour manifesto promises not to raise a number of big revenue-raising taxes, including income tax and VAT.
In a report published Tuesday, the Resolution Foundation identified a range a tax rises, many of them targeting wealth, that Labour could not only do, but also meet its principle that the costs fall on those with “the broadest shoulders.”
It came as separate analysis by Boston Consulting Group revealed a potential £19.5 billion prize from slashing long-term sickness, and the House of Lords Economic Affairs Committee sounded the alarm over the “unsustainable” state of the public finances.
The three reports laid bare the challenges facing Reeves at her first budget on Oct. 30, as she attempts to put borrowing back on track and calm anger from Labour lawmakers
over spending cuts.
The pressures will come to a head on Tuesday when the House of Commons votes on plans to remove winter fuel subsidies from all but the poorest pensioners. Prime Minister Keir Starmer is hoping an inflationbusting increase in the state pension, set to be confirmed earlier in the day, will head off a potential rebellion.
“The Labour manifesto included £10 billion of tax rises, but fresh ones will be needed in order for Rachel Reeves to sufficiently fund public services and investment while still hitting her fiscal rules,” said Adam Corlett, principal economist at the Resolution Foundation.
Inheritance tax reforms that remove business and agricultural reliefs and subject pension pots to the levy would raise £2 billion, the think tank found. Aligning capital gains tax on shares with dividend tax rates and taxing property gains like wages, while reintroducing inflation indexing, would raise up to £12 billion. Another £9 billion could be
found by ending national insurance relief on staff pension contributions by employers.
The think tank said that new governments have raised on average £21 billion in tax in their first budgets after being elected. The government needs around £19 billion a year of extra spending to avoid real-terms per head cuts to unprotected departments like justice and transport.
The BCG analysis found that the government could save £20 billion a year by 2029 by bringing back 450,000 of the workers who dropped out of the labor force due to long-term sickness. This would help generate higher tax revenues and shrink a ballooning benefits bill. Boosting worker participation among this group could also increase UK GDP by up to £177 billion, or 3 percent, by 2029, it said.
Britain has been uniquely hit by a near 700,000 rise in sick workers leaving the labor market since the pandemic struck, worsening staff shortages and holding back economic growth. On Tuesday, Work and Pensions Secretary Liz Kendall said the surge in inactive workers is the “greatest employment challenge for a generation,” as she launched a new panel of experts to advise the government on the crisis.
“When you’re thinking about things that move the dial on the Of -
fice for Budget Responsibility and on their forecast, this is one of the big things,” said Raoul Ruparel, director of BCG’s center for growth. “If you can actually convince them that you can get these people back in the workforce, it would make a meaningful difference to the fiscal forecast.”
The House of Lords Economic Affairs Committee said that Britain’s debt pile is at risk of becoming “unsustainable” unless Reeves takes corrective action in the coming years. It urged Reeves to toughen up her debt target, which requires debt to be falling as a share of GDP in five years, and highlighted mounting pressures from interest rates, military spending, an aging population and the climate transition. It also warned ministers that high immigration cannot ease the country’s debt bind.
“Unless difficult decisions are taken in this parliament, there’s a risk—and I stress a risk—that the UK debt may become unsustainable,” said George Bridges, who chairs the committee in Parliament’s upper chamber.
“Our concern is the trajectory and the lack of a fiscal buffer to help us withstand economic shocks,” he said. “If we want to continue to deliver the state to deliver the level and quality of services we want, taxes will need to rise or the state will need to do less.” Bloomberg
US House passes bill to blacklist some China biotech firms
CBy Steven T. Dennis
HINA hawks in the US House overcame a last-ditch lobbying effort and passed legislation Monday night that would blacklist Chinese biotech companies and their US subsidiaries.
The bill, approved by a vote of 306 to 81, now goes to the Senate. At stake, the bill’s backers argued, is whether a rival will dominate another field the US pioneered, amid fears China could engineer bioweapons or otherwise capitalize on biological data vacuumed up from the rest of the world.
The legislation which passed the House Oversight Committee 40-1 in May, would affect five companies to start: BGI Group, BGI spinoffs MGI Tech Co. and MGI’s US subsidiary Complete Genomics Inc., WuXi AppTec Co., and WuXi Biologics. Dubbed the Biosecure Act, the measure is the latest power flex by lawmakers who have already succeeded this year in requiring Chinese-based parent company Bytedance Ltd. to divest from TikTok or face a US ban on the popular social media site. Bloomberg Intelligence gives the bios-
ecurity bill a 70 percent chance of becoming law given strong support in both the House and the Senate. Numerous other bills targeting China are set for votes this week, including legislation targeting the Chinese supply chains for electric vehicles as well as other industries.
The companies, whose stocks have fallen this year amid the blacklisting effort, have argued they aren’t a national security threat and are focused on health innovation.
Complete Genomics has said the bill would bolster the already dominant market share of US rival Illumina Inc., and said it sells DNA sequencing machines but does not collect or access genetic data, which is controlled by their clients. Complete Genomics expressed disappointment after the vote and that the legislation would inhibit research and wouldn’t protect data.
On Tuesday, WuXi AppTec WuXi Biologics said they did not pose a security risk to the US or any nation, according to filings to the Hong Kong stock exchange.
A prominent House Democrat, Representative Jim McGovern of Massachusetts, tried to persuade colleagues to sink the bill, sending a letter arguing that it selects companies to punish with no
clear standard and should be reworked.
“In the United States of America, Congress does not just pick companies to punish at random with no clear criteria or due process,” wrote McGovern, who also opposed the TikTok measure. He pointed out that his own work against the Chinese regime led Beijing to sanction him last month.
While McGovern’s concerns were ignored by most of the House, he did win over Representative Jamie Raskin of Maryland, a fellow Democrat who had backed the measure in committee.
Raskin said he had been assured his concerns about how the bill was drafted would be addressed before it reached the floor, but said they weren’t.
Like McGovern, he said the underlying issue was that Congress shouldn’t be targeting individual companies, and instead ought to set rules and task agencies with enforcing them.
“We should be setting forth the law, not implementing the law,” said Raskin, a constitutional law professor.
Complete Genomics announced in May it’s opening a lab in Massachusetts’ high-tech corridor, near McGovern’s district. And China-based WuXi Biologics announced in January it is expanding a
facility in his district, which is expected to add 200 new jobs. McGovern said on the House floor Monday he would be prepared to shut down companies, even the one in his district, if there was evidence of bad behavior.
“This is how they do things in China. The PRC officials decide they don’t like you—so they blackball you,” he said of the legislation. Representative Brad Wenstrup, an Ohio Republican and the bill’s primary sponsor, said the companies were named because they are aligned with the Chinese Communist Party, which is intent on dominating the biotech industry, and said millions of Americans’ data is potentially at risk. After the vote, Speaker Mike Johnson’s office said in a statement that he “is not stopping here and is committed to advancing further China-related legislation on investments and other predatory practices.” The legislation also has implications for the global pharmaceutical industry, as much of the
Pagcor: More integrated resorts to bring tourists, jobs
By Reine Juvierre S. Alberto @reine_alberto
MORE integrated resorts are expected to launch and expand in the Philippines to bring in tourists and local employment, according to a top official of the Philippine Amusement and Gaming Corporation (Pagcor) on Tuesday.
“We see more industry players investing in the Philippines, as they recognize the country’s unique selling point as a prime tourism and entertainment destination in this part of the world,” Pagcor Chairman and Chief Executive Officer Alejandro H. Tengco said in the Inside Asian Gaming (IAG) Academy Summit.
Tengco told reporters Solaire is slated to open another property resort in Southern Luzon by the end of 2028.
Meanwhile, Clark, the economic zone in Central Luzon, is also
on the radar for a new integrated resort in 2027, Tengco said. In 2026, Tengco said Newport will launch potential projects in Boracay and Lapu-lapu City in Mactan, Cebu.
At least $300 million in investments will be generated from each integrated resort to be built in the province, Tengco added. Newport World Resorts’ developer Travellers International Hotel Group will open up an integrated resort casino in Entertainment
See “Pagcor,” A11
PHILIPPINE Amusement and Gaming Corporation chief Alejandro Tengco addresses the IAG Academy Summit in Manila on Tuesday, September 10, 2024. PAGCOR
CLOSE REVIEW OF AIRLINES’ AIRPORT ASSIGNMENTS URGED
By Lorenz S. Marasigan @lorenzmarasigan
UDGET carriers AirAsia
BPhilippines and Cebu Pacific have called for thorough consultations and meticulous planning regarding the New Naia Infrastructure Corp.’s (NNIC) planned terminal reassignments at Ninoy Aquino International Airport (Naia).
While expressing support for the long-term vision of NNIC, the two carriers emphasized the need for detailed coordination to minimize passenger disruptions during the transition.
NNIC General Manager Angelito Alvarez said at Tuesday’s Aviation Forum hosted by the Economic Journalists Association of the Philippines (EJAP) and San Miguel Corp. (SMC) that the company has engaged “several consultants” to optimize the utilization of Naia’s four terminals.
Initially, the proposal is to make Terminal 2 a purely domestic facility, while Terminal 1 will be for the exclusive use of Philippine Airlines (PAL). All
foreign airlines, including some operations of Cebu Pacific and AirAsia, will be moved to Terminal 3. It also includes the proposal to transfer AirAsia back to the smaller Terminal 4.
“It will happen only in three years once the Terminal 2 extension is completed,” he noted, referring to the construction of a new terminal building beside Terminal 2, where the abandoned Philippine Village Hotel is located.
“Such terminal reassignment requires careful planning, including time and motion studies, consideration of environmental factors, and adequate time for implementation to minimize disruptions, especially as we are also nearing the peak season,” AirAsia said. It added: “In fully supporting NNIC’s great plans for Naia, we trust that optimizing airport utilization will benefit everyone involved, especially our passengers who deserve the best experience possible.”
See “Airlines,” A11
Editor: Jennifer A. Ng
Monde Nissin will purchase controlling stake in Amico
By VG Cabuag @villygc
Monde nissin Corp. on Tuesday said it is acquiring a controlling stake in goods trader Amico Innovations Inc. for P17.5 million.
In its disclosure, Monde said it will subscribe to 87,500, or some 70 percent, of the outstanding common shares of Amico, a Philippine domestic corporation that is currently in the process of being incorporated.
Amico has the primary purpose of “engaging in the importing, exporting, repacking, processing, buying, selling, marketing, distributing, trading or otherwise
dealing in on wholesale basis and to the extent allowed under Philippine law, on retail basis all kinds of goods, wares, and merchandises, which are or may become articles of commerce, among others,” said Monde Nissin.
The subscription will happen on or before September 30.
The company said it is buying the company “for the exploration of start-up opportunities in new
categories and businesses.”
Last May, Monde Nissin reported that its core income in the first quarter rose 53 percent to P2.88 billion, from the previous year’s P1.87 billion due to the record profits of its branded food group.
Revenues for the period went up by a mere 2 percent to P20.31 billion from the previous year’s P19.9 billion as the Holy Week holiday in the Philippines dampened sales.
“The first quarter saw significant expansion in gross margin and overall profitability driven by our (branded) business,” Henry Soesanto, the company’s CEO, said. “Our (branded) margins and profitability have substantially rebounded from last year’s levels, and we believe, given current conditions, that the second quarter will continue to reflect these improvements.”
The company was was recently
honored as Supplier of the Year 2023 by grocery operator Puregold Price Club Inc., recognizing their two-decade partnership that has empowered small businesses across the Philippines.
Its partnership with Puregold began in 1998 when the supermarket chain opened its first outlet. Over the years, the two companies have collaborated on numerous programs aimed at supporting small businesses.
“It’s a tremendous honor to receive this recognition from Puregold, and we sincerely appreciate their ongoing support,” Monde Nissin Chief Commercial Officer Samuel C. Sih, said.
“With their assistance in distributing our products, we have been able to carry out our mission of reaching more Filipino households and supporting independent vendors.”
SPNEC eyes other sites for solar project
TBy Lenie Lectura @llectura
HE Pangilinan-led SP New Energy Corp. (SPNEC) will pursue its planned 280-megawatt (MW) solar power project, but in a different location.
SPNEC earlier asked the Department of Energy (DOE) for the termination of the solar power contract that was awarded to the company during the first round of the green energy auction (GEA) program.
The Sta. Rosa Nueva Ecija 2 solar power project was supposed to
deliver 280MW by December 25, 2025 at an offered rate of P3.6700 per kilowatt hour (kWh). However, transmission line constraint, “which is beyond our control,” promoted the company to seek for a termination of the contract.
The Department of Energy (DOE) said the termination request was not resolved and that SPNEC cited force majeure as reason for the request.
SPNEC, for its part, said it has not yet received a reply to its request.
Company president and CEO Emmanuel Rubio said the plan now is
to relocate the solar power project.
“We’re looking for possible replacement of the capacity but in a different location,” he said. “I don’t know when that transmission line is going to be available.”
He, however, did not specify the areas under consideration.
Rubio said the DOE will be informed about this, including the plan to relocate the solar project.
“We are now drafting a reply, looking for a legal basis. We are actually willing to replace the capacity in other areas where we can evacuate the energy. But we will ask DOE if
they can consider a certain level of repricing and we are willing to accept some concessions on the penalties but not the bond.”
Under the GEA terms of reference, “failure to deliver after the period of extension shall cause the calling of the performance bond in full or in part.”
The GEA program was designed to continuously trigger the increase of renewable energy (RE) capacity in the country. The DOE wants the GEA to be conducted on a yearly basis, in a bid to promote RE as the country’s primary source of energy.
Davao bulk water supply project gets nod of UK award-giving body
By Manuel T. Cayon | Mindanao Bureau Chief @awimailbox
DAvAO City—The river water extraction project for potable water use here was conferred the Best Public-Private Partnership (PPP) in the Philippines for 2024 by the United Kingdombased International Finance Awards (IFA).
The Davao City Bulk Water Supply Project (DCBWSP) is a joint venture of the Davao City Water District (DCWD) and Apo Agua Infrastructura Inc. (Apo Agua), the water subsidiary of Aboitiz InfraCapital (AIC).
The award is one of 41 award categories of the IFA. “The provision of quality utilities is an indicator of economic prosperity. Quality utilities are a prerequisite for effective poverty eradication. Governments are ultimately responsible for ensuring reliable universal access of service under accountable regulatory frameworks. Increased competition in the utilities sectors in recent years has entailed changes in regulatory frameworks and ownership structures of enterprises, in addition to business diversification.”
The AIC described the award as “a prime example” of the transformative potential of PPPs in driving sustainable urban development. “This recognition, coming within the first year of the project’s commercial operations, underscores Davao City’s commitment to innovative solutions for critical infrastructure needs and delivery of basic services.”
“This award underscores the essential role of public-private partnerships in driving critical infrastructure development and meeting the evolving needs of communities,” Aboitiz InfraCapital Head of Water Business and Apo Agua President Eduardo v. Aboitiz said. Under the joint venture, Apo Agua handles the water production, managing the country’s largest operating private bulk water supply facility with an over 300 million liters per day of treatment capacity.
The project features a unique water-energy nexus design in Southeast Asia, incorporating an integrated hydroelectric power plant that fully powers the facility. This innovative system uses the same water for power generation and treatment before distribution.
“For more than five decades, Davao City has relied on groundwater sources to meet its growing water demands.”
The project taps the Tamugan River water from its northern watershed area to be the main source of potable water for the city’s commercial, industrial and household use of the estimated 1.7 million population of the city. The water district would now rest its aquifers to recharge.
The AIC said the DCBWSP’s success “sets a compelling precedent” for other fast-growing cities in the Philippines to effectively address critical infrastructure needs, stimulate economic growth, and enhance citizens’ quality of life by tapping into the synergistic potential of the public and private sectors.
B1
Peza: Chinese firms to expand projects in economic zones
By Andrea E. San Juan @andreasanjuan
THE Philippine Economic Zone Authority (Peza) said 6 Chinese registered business enterprises (RBEs) are investing around P4.5 billion for the expansion of their projects within ecozones, particularly in electrical vehicle (Ev ) battery charging, industrial bearings, and solar panels.
Peza Director General Tereso O. Panga said among the Chinese foreign direct investment (FDI) commitments that the investment promotion agency secured were P2.7 billion from C&U for the construction of a new building and production line to increase its daily output for industrial bearings to 500,000 pieces from the current 200,000 pieces.
Panga said Peza also secured a commitment to invest P700 million from Bocheng for the construction of a three-storey, 30,000 square meter gross floor area building for its production of plastic injection moldings at the LIMA Estate.
According to the PEZA chief, the investment promotion agency also bagged a P1-billion commitment from Huading for additional 1.3 hectare production facility at the Suntrust Ecotown Tanza.
In renewable energy, Panga said Peza secured $3 million worth of investments from Tide Solar for the construction of another solar panel manufacturing facility in ANFLO Industrial Estate, on top of its existing $7-million facility in LIMA Estate.
Peza said it also bagged invest-
ments from Mass Power for the construction of a 4-story building over a 4,500 sqm lot at the First Cavite Industrial Estate. The company, however, did not provide the project cost.
Panga said Boamax is increasing its production capacity with the relocation of its Ev battery charging pile equipment manufacturing from China to Philippines.
He issued the statement after Peza went on its first investment mission to China which was held from September 4 to 10. As for the new Chinese FDI leads that Peza generated from the investment fora in Shanghai and Dongguan, Panga said a number of medium-sized companies have expressed their interest to engage in ecozone domestic and export-manufacturing activities.
These include GNK (tooling), Binsen Herr (mechanical PC keyboard), Helioway (motor components), Huayu Precision (Plastic injection/ stamping), Mankun Technology (electronics), Jenshan Precision (electronics), Apeman innovations (electronics), Huiye (power transformers), Dongguan Eswin Technology (electronics), Huide (electronics), and Ebfec (e-bike manufacturing for export to the US).
For January to August, Peza said it approved a total P2.02 billion from the combined investments of Mainland China and Hong Kong, three times higher than the P769 million approved in the same period last year. There are now 189 Chinese RBEs in Peza, which generated by far P47.3 billion in investments and 46,501 direct jobs, according to the agency.
First Cavite industrial Estate
thE Davao City Bulk Water supply Project. Photo by Manuel t Cayon
The art of getting there
IT’S that time of the year again when most organizations engage in strategic planning sessions in order to plan for next year’s business.
According to Pete Johnson: “Strategy is a style of thinking, a conscious and deliberate process, an intensive implementation system, the science of insuring future success.” Currently, there are a gamut of tools being used for strategic planning. However, when you think about it, the art of getting from where you are to where you want to be actually boils down to these simple steps.
Know what you want. As Norman Vincent Peale said, “the great secret to getting what you want in life is to know what you want and believe you can have it.”
Know exactly what you want and where you want to be. This represents both your objective and key result, and refers to what you want to achieve within a specific timeframe. Make sure that you use “Smart” (specific and measurable, ambitious but realistic and time-bound.
Determine where you are today. Knowing where you want to be is not enough to ensure success. You also need to determine your current situation. Where are you currently? What do you have? What is not working for your business? Take a closer and honest look at your strengths, weaknesses, areas for improvement, needs, and opportunities. Remember, the first step to get to where you want to be
is to know where you currently are.
Identify the gap. The third step to planning is to identify the gaps between where you and where you want to be.
What is the distance between your circumstance and your goal. What are the challenges and potential road blocks for success. At the same time, identify key enablers and required capabilities that may help you succeed.
Formulate a plan. Address the gap by formulating a plan of action. What do you need to do to achieve your key result areas? Be mindful of schedules and put enough time to implement specific action points. It will also help if you can identify the doer, accountable, consulted, informed people to make the plan work.
Implement the plan. Finally, implement the plan.
Nothing happens until you work on that plan. Avoid the trap called analysis by paralysis and adopt a mindset of “ready, fire aim!” Once the plan is set, implement it. At any rate, you can still make adjustments later. Don’t worry, you can do it.
Alexey Rola “Coach Lex” Cajilig is the president of Arcway Consultancy Inc., executive director of ARC Docendi and senior vice president and chief operations officer of EM-Core Dotnet Inc. He is a sales leadership coach, strategic sales operations consultant, Christian motivational speaker, human ecologist and author of “The Effective Seller.” He is also the creator of “ARCH Styles,” a behavioral and personality assessment tool. His views do not necessarily reflect those of the BusinessMirror’s. If you have questions and suggestions, you may send an email to alexey.cajilig@gmail.com.
US small-business optimism dips by most in over 2 years
US small-business optimism declined in August by the most in more than two years as earnings tumbled and firms grew more downbeat about prospects for sales and the economy. The National Federation of Independent Business optimism index dropped 2.5 points, the most since June 2022, to 91.2 last month. The decline erased nearly half the advance over the previous four months.
Eight of the 10 components that make up the index weakened, led by a 9-point slide in sales expectations. Some 37 percent of firms reported deteriorating earnings, the largest share since 2010, as elevated prices, interest rates and labor costs continue to take a toll. Among those reporting lower
DTI, Converge to aid MSME competitiveness via Internet
By Andrea San Juan
THE Department of Trade and Industry (DTI) signed an agreement with Converge ICT Solutions Inc. (PSE: Cnvrg) that is expected to expand Internet connectivity to far-flung areas to help micro, small and medium enterprises (MSMEs) become more dynamic locally and globally competitive.
Connectivity is really important for the MSMEs because there’s really no Internet connection in farflung areas, Acting Trade Secretary Cristina Aldeguer-Roque said at the signing of a Memorandum of Understanding (MOU) between DTI and Converge last Tuesday.
“The first and foremost is to get the internet to the far-flung areas,”
Aldeguer-Roque added.
As to the areas that DTI wants to prioritize to be covered by expanded internet connectivity in the far-flung areas, the acting DTI chief said she’s handing a list of priority areas to Cnvrg CEO Dennis Anthony H. Uy.
“I have a list here to give to [Uy] and then for him to review which
DTI-Laguna teaches biz owners on capital devt
THE Laguna Provincial Office of the Department of Trade and Industry (DTI) announced that it has conducted a blended learning activity featuring the third module of the DTI “Sari-Sari Store Advancement” (SSA) program, which was participated by owners of micro, small, and medium enterprises (MSMEs) in Luisiana, Laguna.
According to a statement issued by the DTI-Laguna Provincial Office, the blended learning activity shared a video presentation, which provided a comprehensive overview of the SSA program. It was followed by the introduction of Program Moderators Isis Valencia and Danica Caynap and the delivery of opening remarks by Assistant Trade Secretary Grace F. Baluyan.
Baluyan highlighted that the SSA program involves upskilling MSMEs with digitalization and sustainable practices.
Unobank Inc. Retail Ecosystems and Channels Head Florice B. Tan discussed the different sources of income, proper budgeting and inflation and how these affect the financial management of an individual. Tan also presented how mobile wallet and digital payments work as well as how the digital bank helps MSMEs. She further elabo -
profits, 31 percent blamed weaker sales and 17 percent said the decline was due to prices of materials. Labor costs were cited by another 13 percent. Nearly a quarter of business owners indicated inflation was their single most important problem, well above the 3 percent long-term average from 1986 to mid-2020, according to the report. As a result, small companies dialed back hiring plans. A net 13 percent of owners said they plan to create jobs in the next three months, down 2 percentage points from the prior month. The NFIB’s uncertainty index rose 2 points to the highest since October 2020.
Results of the NFIB survey were based on 590 respondents through August 29. Bloomberg News
rated how MSMEs can open a savings account and apply for the offered loan programs to support and expand their businesses.
G-Xchange Inc. cash of Globe Fintech Innovations Inc. Distributive Trade Head Gian Paolo Besa iscussed the “Gcash Pera Outlet” that he said can help sari-sari store owners and retailers to earn additional income by providing online digital payment and cash-in and cash-out transaction services.
Fuse Lending Inc. Business Development Head Racquel Holazo, meanwhile, shared how loans can be availed by registered business establishments.
Jose Milo Abelo, training lead of Smart Communications Inc., shared about the firm’s app that he said provides “easier and more convenient” loading business to micro-retailers and gives business opportunities to earn more.
Wally Don G. Calderon, head of the Innovation and Advocacy Group of Small Business Corp. (SBCorp). shared the various loan programs of SBCorp and how MSMEs can apply and get approved through its website by uploading necessary documents and attachments for the validation process.
areas will be the top priorities. But of course, the areas where there are negosyo [business] centers, because in [these] centers, a lot of the MSMEs really go there. That’s where they apply for the business name. That’s also where they, you know, they check what’s the latest. These [are] also where they give their concerns or where they also look for opportunities,” Aldeguer-Roque said.
She also noted the list of priority areas contains some remote and “not-so” remote areas.
Aldeguer-Roque emphasized that the need for MSMEs to digitalize prompted the two parties to enter into a partnership, underscoring that without connectivity, “it’s [doing business] a waste of time.”
Fighting chance
MEANWHILE, Uy emphasized: “We want to give them [MSMEs] a fighting chance to reach not just nationwide audience but global audience when they put their business services online.”
The Converge CEO emphasized this amid the evolution of social me-
dia marketplaces.
“We have a nationwide network span over 700,000 kilometers. We have one to embrace MSME around the Philippines,” Uy said.
Citing figures from the DTI Ecommerce office, Cnvrg Chief Commercial Officer Benjamin Rex Emilio B. Azada said MSMEs ranked very low in terms of digitalization. Out of 400 MSMEs surveyed, 23 percent did not utilize ICT tools for business and 51 percent used only basic digital tools such as Microsoft Office, e-mail, etc., according to Azada.
On the other hand, he noted, “only a fraction had advanced usage of digital tools with six percent of respondents noted having purely online businesses or using advanced tools like ERP, CRM, data analytics, and so forth.” Azada said this data tells them that they have a “market to serve.”
“Like what we do for consumers and large enterprises, Cnvrg exists to serve the unserved and underserved MSMEs in terms of connectivity,” Uy said.
THE PLDT Inc. announced that PLDT-Smart Foundation Inc. (PSF) livelihood carts sponsored personally by employees of the firm’s enterprise unit for the recent birthday of PLDT Chairman, President and CEO Manuel V. Pangilinan (MVP) were received by beneficiaries of Alagang Kapatid Foundation Inc. (AKFI).
Aimed at helping underprivileged micropreneurs start up small food ventures, the PLDT’s corporate business arm was the first donor of the newest livelihood program of the PSF, the Group’s social outreach arm, read a statement
issued by the telecommunications company.
“The symbolic birthday present to [Pangilinan] aligns with the vision of the PLDT enterprise [unit] to make a positive impact on businesses of all sizes—from large corporations, to micropreneurs—while reinforcing [the] PSF’s economic and social entrepreneurship focus area,” the telco added. Each PSF “Smart Cart” includes Smart Communications Inc. retailer kits, monetary capital for the beneficiaries to purchase initial food cart supplies and basic business training, the PLDT statement read.
Mini-marts could upend FRG’s store closure laws
FOR many people, a particularly vexing aspect of life in Germany is that it’s nearly impossible to buy groceries on Sundays or public holidays. Since 1956, national law has dictated that almost every store close on those days, and although federal states can now decide their own rules, most have held firm to the idea that workers and shoppers need a mandated day off. Recently, however, automated mini-markets have convinced several states to make an exception. These shops, most of which are operated by the German supermarket chain tegut...gute Lebensmittel GmbH & Co. KG, are just over three times the size of a parking spot, open 24/7, can be accessed via an app or a bank card, and offer self-checkout. All without a salesperson present. As plans to open more such
stores move ahead—and as retailers in other parts of the world experiment with AI-based supermarkets—the fate of Sunday shopping in Germany, as well as other European countries with similar policies, is likely to be influenced by automated options.
In the last four years, tegut has opened 40 so-called tegut teos— small wooden containers with plantcovered roofs and mini-markets inside—in three states. Each offers around 950 items, from basics such as toothbrushes and sauces to perishables including vegetables and steaks. Laws governing these shops vary from state to state. While BadenWuerttemberg looks the other way when it comes to teos’ opening hours, Hesse—where tegut is headquartered—amended its laws last month to allow mini-markets to
operate around-the-clock, including on Sundays and holidays. Bavaria is currently adapting its legislation to do the same.
“We need to get the laws changed in every federal state to get out of the legal gray area,” Thomas Staeb, the project manager overseeing all teos, said in an interview at a location in Hesse.
Getting states to reconsider the store closure law hasn’t been easy.
Last December, after dozens of teos had already opened in Hesse, the state court issued a ruling banning micro-markets from operating on Sundays and holidays. Staeb launched a one-man campaign to get the law changed—he couldn’t remember “how many times I went in the front door of the ministry, was kicked out and went back in through the back door”—before finally suc-
ceeding in July.
According to the Federal Research Institute for Rural Areas, about half of Germany’s rural population lacks access to groceries within walking distance. This is one reason why Staeb, among others, believes micromarkets fill an important niche. They can improve access to essential goods as well as “the equality of living conditions,” the German Trade Association wrote in an email.
“Such markets could help revitalize local economies,” noted Dirk Binding, head of digital economy, infrastructure, and regional policy at the German Chamber of Industry and Commerce. “If people can do their daily shopping locally, more purchasing power remains in the region, which could also attract other small stores and services in the long term.”
Editor: Vittorio V. Vitug
This August 30, 2024, photo shows (left to right): PLDT inc. First Vice-President and head of Enterprise Business Enablement Mary Julie C. Carceller, beneficiary shiela sagao, PLDT senior VP and head of Enterprise Business Group Joseph ian G. Gendrano, PLDT-smart Foundation inc. President Esther O. santos, beneficiary Maritess Pontanares with her family and Alagang Kapatid Foundation inc. Executive Director Menchie silvestre during turnover ceremonies. CREDIT: PLDT InC
Editor: Dennis D. Estopace
Pagcor to slash license fee rates by up to 10% to entice investors
By Reine Juvierre Alberto
THE Philippine Amusement and Gaming Corp. (Pagcor) will slash online gaming license fee rates up to 10 percent starting 2025 to curb illegal gambling and attract more investments in the country.
Pagcor Chairman and CEO Alejandro H. Tengco announced during the Inside Asian Gaming (IAG) Academy Summit on September 10 that license fee rates of integrated resorts involved in online gaming will be reduced further by 5 percent to 30 percent from the prevailing 35 percent. License fees for brick-and-mortar casinos with online gambling platforms will also decrease by 10 percent to 25 percent from 35 percent.
Pagcor’s licensees were left to compete with the underground market and make do with their remaining 45-percent GGR to cover the costs of operations, which eventually led to them closing shop.
Tengco added the rate reduction would leave the operators with 70 percent to 75 percent of their GGR to cover various expenses and more profit. “So, that encourages everybody to be registered and become legal.”
sector is projected to rake in almost P100 billion in GGR.
“We also expect the continuing phenomenal growth of the electronic games sector to boost the overall performance of the Philippine gaming industry in the coming years,” Tengco said.
Moreover, the Pagcor chief expressed confidence that the decrease in licensee fees will not affect Pagcor’s GGR, noting that the reduction caused its earnings to increase.
Probe banks on dubious Pogo deals, solon urges
By Butch Fernandez @butchfBM
ENATOR Sherwin T. Gatchal-
Sian aims to file an enabling resolution to mount an inquiry to unravel the apparent failure of banks to flag financial transactions that may have “allowed unscrupulous individuals to establish Philippine Offshore Gaming Operators (POGOs) linked to criminal activities in the country.”
as QJJ Farms and QJJ Embroidery, were likely used as conduits for money laundering to fund the construction of the POGO hub in Bamban, estimated to have cost over P6 billion.
According to Gatchalian, bank transactions involving Guo companies amounted to hundreds of millions of pesos—far beyond what their financial statements indicated as their financial capacity.
“By lowering our license fees to be at par with the global industry standards, we hope to attract and keep more investors in place. It should also help encourage and curb illegal online gaming operations so that they abandon the grey market and hopefully embrace the mainstream,” Tengco said.
THE national government released P16.664 billion in calamity funds as of end-August to repair damages caused by natural and human-induced disasters.
Latest data from the Department of Budget and Management (DBM) showed it disbursed P16.664 billion of the National Disaster Risk Reduction and Management Fund from January to August this year. Broken down, national government agencies received P16.164 billion in calamity funds while P499.936 million were allotted to government-owned and -controlled corporations during the eight-month period.
THE government raised P30 billion on Tuesday’s auction of Treasury bonds (T-bonds), according to the Bureau of the Treasury (BTr). The auction committee made a full award of the reissued 7-year T-bonds with a remaining term of four years and eight months.
Tenders for the issuance of the longterm debt papers reached P69.808 billion, of which P30 billion was accepted and P39.080 billion was rejected by the committee, according to the Treasury. The auction was 2.3 times oversubscribed. The T-bonds fetched an average yield of 6.058 percent, with yields ranging from a low of 5.990 percent to a high of 6.075 percent. The average yield is lower than the 6.107 percent average rate when it was last reissued. Month-on-month, the T-bonds average auction yield improved by -0.049 percent compared to the 6.107 percent yield in the previous 5-year T-bond auction on August 7, 2024. In the secondary market, the T-bonds average auction yield is slightly higher than the comparable 5-year PHP Bloomberg Valuation Service Reference Rates (PHP BVAL) yield of 6.050 percent as of September 9, 2024.
Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the T-bonds yield slightly increased after the latest inflation eased to a seven-month low of 3.3 percent in August 2024.
TOnline gaming licensees remit 55 percent of their gross gaming revenues (GGR) to Pagcor as license fees before it was brought down to 35 percent in April 2024, Tengco told reporters on the sidelines.
In August alone, P3.126 billion was released to the Department of Public Works and Highways (DPWH), the Department of Social Welfare and Development (DSWD) and the Department of Finance (DOF). A total of P2.393 billion or 74.80 percent of the calamity funds released in August were allocated to DSWD, of which P875 million was used to replenish its Quick Response Fund (QRF) this year. The QRF is a stand-by fund used to cover relief and rehabilitation in case of disasters and calamities. The DSWD’s remaining budget was used for the rehabilitation of
After the Pagcor gradually reduced the license fee rates this year, Tengco said it bodes well for both the regulator and its licensees as no more closures were recorded and its GGR significantly increased.
As of the first half of 2024, Pagcor’s GGR increased by 14.62 percent to P170.93 billion from the P149.13 billion recorded in the same period in 2023.
The gaming regulator attributed the growth in revenues to the electronic games (e-games) sector, contributing P53.35 billion in the six-month period. By year-end, the
various infrastructure projects in the provinces of Leyte, Ilocos Norte, Western Visayas, Cagayan and the Municipality of Pantukan, Davao de Oro.
Meanwhile, the DPWH received P645.669 million to cover the repair and of various calamity-related projects in Region VII and Caraga damaged by Typhoon “Odette” in 2021.
About P87.500 million was also given to the DOF to finance the rehabilitation of 11 local infrastructure projects of the Municipality of Tadian, Mountain Province affected by Tropical Cyclones “Egay” and “Falcon” in 2023.
“Many unregistered operators wanted to become legitimate and the current licensees at the low rate can spend for marketing now. They can give more bonuses, they can give more free games, so it encourages more business,” Tengco added.
The Pagcor will likewise continue to implement rationalized regulatory policies, monitor licensees’ compliance and strengthen its partnerships with other government and law enforcement agencies to crack down against persistent illegal online gaming operators.
Agencies may only access the calamity funds under the FY 2024 General Appropriations Act upon completion of damage assessment and recommendation by the National Disaster Risk Reduction and Management Council and the approval of the President. The calamity funds may be utilized for aid, relief and rehabilitation services to communities and repair, rehabilitate and reconstruct works when natural or human-induced calamities occur in the current year or the proceeding two years.
Of the P22.736-billion calamity fund, P6.072 billion is still available to be tapped. Reine Juvierre Alberto
“Money laundering is one of the biggest crimes committed in the POGO hubs that were raided,” reports Gatchalian on the verge of an upcoming Senate committee meeting within the week.
For instance, the senator also noted that companies owned by Guo
Hua Ping, also known as Alice Guo, were involved in bank transactions amounting to hundreds of millions of pesos, which may have enabled her to construct and establish the POGO hub in Bamban.
“Bakit umabot ng apat hanggang limang taon bago naimbestigahan?,” Gatchalian said. [Why did it take four to five years before this was investigated?]
“If the banks had complied with the requirements of the anti-money laundering law, this would have been nipped in the bud,” the solon pointed out, noting that suspicious transactions involving Guo companies started as early as 2019.
The senator surmised that companies set up by the Guo family, such
IT has been repeatedly raised with a note of ascending alarm that our government borrowings are exceeding the limits of prudence. At the rate our national debt is growing, when do we get to the edge of the cliff?
“If you examine the financial statements of Guo-related businesses, including their tax returns, you won’t be able to trace where the money came from. For me, this is a classic case of money laundering, as we cannot detect the source of funds,” he said.
Gatchalian highlighted the money laundering case that the Anti-Money Laundering Council (AMLC) filed against Guo and 35 others. The case involves funds, initially intended to pay Baofu Land Development’s electricity bills, which were systematically laundered through multiple bank accounts to conceal their illicit origins. Baofu is the property developer that owns the land where the POGO hub in Bamban was constructed.
“The bigger crime is how they were able to erect buildings, and we still don’t know how the money came in. I’m sure the same thing happened in the Porac O hub,” Gatchalian said. In addition to the Bamban POGO, the AMLC is also looking into bank compliance issues related to the Porac POGO hub.
“[This] reverted back to the Bangko Sentral ng Pilipinas’ (BSP) 2-percent to 4-percent inflation target range, thereby could justify further local policy rate cuts in the coming months that could match future U.S. Federal Reserve (Fed) rate cuts,” Ricafort said. Moody’s Analytics said the country’s latest inflation print supports the view of the BSP on another cut in key policy rates this year. (See: https://businessmirror.com.ph/2024/09/10/augustinflation-affirms-bsp-on-1-morerate-cut-in-2024/) Meanwhile, BSP Governor and Chairman of the Monetary Board Eli M. Remolona Jr. said the BSP may have entered its easing cycle as additional rate cuts could be on the horizon after the BSP reduced interest rates for the first time in four years. (See: https://businessmirror.com.ph/2024/08/17/bsp-easingcycle-seen-as-governor-remolonasays-another-rate-cut-possible/ ) For September, the government aims to borrow a total of P115 billion from the sale of T-bonds and P80 billion from auctioning Treasury bills (T-bills).
The government will borrow P2.570 trillion this year, following a borrowing mix of 75:25, of which P1.923 trillion will be raised domestically while P646.084 billion will come from foreign sources. The country’s gross domestic borrowings reached P1.484 trillion as of end-July 2024, up by 30.69 percent year-on-year from P1.135 trillion. Reine Juvierre Alberto
By Claudeth S. Mocon-Ciriaco @claudethmc3
ATHINk-TANk group urged government to offer concrete support to startups and small online businesses, many of which lack the resources to register and comply with tax obligations, instead of threatening to close them down.
Nicasio A. Conti, Convenor of the Click Partylist and CEO of Capstone-Intel Corp., said that while they support the Bureau of Internal Revenue’s (BIR) recent statement regarding the possible suspension of unregistered online businesses under Revenue Regulations 15-2024, they are also looking at how it can potentially kill small online sellers.
“The Internet Transaction Act of 2023, coupled with the BIR’s enforcement, aims to level the playing field between online and brick-andmortar businesses, which is essential for consumer protection and trust in e-commerce,” said Conti, a former officer-in-charge of the Maritime Industry Authority.
Under the new regulations, online businesses that fail to register with the BIR could face suspension through closure or take-down orders affecting their websites, ac-
counts, or platforms.
Inclusive approach
CONTI, also a lawyer, said that while the regulation seeks to ensure fair taxation across physical and digital platforms, there is growing concern that many unregistered online sellers may be driven out of business.
He also emphasized the need for a more inclusive approach, where the government actively helps startups transition into the formal economy.
“In other countries like Singapore and the United States, startups receive government assistance through grants, tax breaks, and legal guidance to encourage compliance. The Philippines should adopt a similar model to help our small businesses grow rather than penalizing them prematurely,” he added.
“With the BIR now closely monitoring platforms like Lazada, Shopee and TikTok to ensure sellers are registered, it is essential that we find a balance. [We] fully support fair taxation; but we must also ensure that our small entrepreneurs are not left behind,” Conti said.
“The digital economy thrives on innovation, and by supporting our startups, we help them scale into legitimate, tax-paying enterprises.”
The crusading mayor of Baguio City, Benjamin B. Magalong, was the one who loudly raised the issue of our bloated national debt, making front page news. Setting aside a prepared speech to “let me speak from my mind and from my heart,” he said. “Last April, news came out that our national debt is already at P13.86 trillion ($230 billion to $250 billion). Remember that when we started, when President Duterte started his administration as president of the Philippines, our national debt was just 5.7 trillion pesos (nearly $ 100 billion) accumulated for decades. In just a matter of seven years, our national debt increased by as much as 142 percent; we’re now at 13.86 trillion.”
In fact, the updated national government debt as of end-June 2024 was P15.48 trillion, an increase of 9.4 percent from P14.62 trillion a year earlier.
It is the increasing debt servicing from our borrowings that concerns us all. The interest payments (excluding amortization) as a percentage of our total budget disbursements) have progressively–some will say alarmingly–increased from: 11.8 percent in 2023; 13.3 percent in 2024 (program); 13.7 percent in 2025 (projections); and, 14.9 percent in 2026 (projections).
Note that big increase in 2026. These are the key percentages to closely watch. And likewise, we should monitor in parallel our government debt-to-GDP ratio, which is a measure of the burden to the ability of the country to manage its debt obligations and still grow the economy. Not to worry, says Secretary of Finance Ralph G. Recto. He assures, our total debt today is roughly P15 trillion; the size of our economy is P26.5 trillion. Our country’s debt-to-GDP ratio as of June 2024 stands at 60.9 percent versus 61.0 percent as of end-June 2023. By comparison, other peer countries have these debt-to-GDP ratios: Vietnam, 34.5 (2022); Indonesia, 39.4 (2024 June); Malaysia, 61.1 (2022); and, Thailand, 61.8 (2023). And if we want to “feel good”
about comparisons, the debt-to-GDP ratio of Japan is 263 percent (2023) and the US, 123 percent (2023).
Mayor Magalong is quoted to continue: “Our ability to pay our debt would depend on our ability to manage our financial leakages.”
Of course our ability to pay depends on several other factors, but the good Mayor makes a particularly relevant point. The financial leakages are a very major drain on our resources, more specifically, our national budget from which to source our payments.
He was specifically referring to leakages from corruption. This is why guarding and preventing these financial leakages in the national budget are our continuing concern. The ongoing congressional budget hearings are informative and instructive as government agencies are scrutinized about past and proposed spending. Media coverage has been extremely helpful in enforcing public transparency in budget formulation.
But transparency is not, and cannot, be enough. We must demand accountability from those who cause, perpetuate or allow these financial leakages which, in their effects, cascade to worsen our debt-to-GDP ratios. This ratio was at its lowest at 39.6 percent in December 2019; highest at 72.3 percent in September 2024.
Our Congressmen are doing their job of scrutinizing proposed spending in the current budget hearings, well-publicized by media coverage. But perhaps they should give as well a critical look at their “pork barrel insertions” disguised as legitimate public work projects.
FInex Free enterprIse
s antiago F. Dumlao Jr.
he Ads up, fell As—your beer belly is more dAngerous thAn you think FrOM homer simpson to post-thanos snap thor and maybe even your dad, pretty much every guy knows what a beer belly is. the noticeable lump of excess fat around the midsection has been the butt of many jokes and gentle ribbings over the years, to the point that some guys even jokingly wear it as a badge of honor. (hello, dad bods!) But how much do we really know about beer bellies?
Jimmy B. Aragon, MD, from the section of endocrinology of the top hospital in the Philippines Makati Medical center (MakatiMed, www.makatimed.net.ph), points out that beer bellies are more dangerous than just being a dad bod staple.
“A beer belly may be linked to alcohol consumption, but it shouldn’t just be the bottles of beer that one should worry about. A beer belly is usually developed because of consumption of too many calories, from binge-drinking to unhealthy diet,” explains Aragon. “it’s basically belly fat, a result of excess buildup of visceral fat inside your abdomen, which wraps itself around vital organs and even forces your abdominal wall outward. Visceral fat inflames your body’s tissues and organs, narrowing blood vessels and leaving you more vulnerable to problems like high blood pressure.”
According to Aragon, belly fat is also linked to a higher risk for various kinds of health problems for guys including heart disease, erectile dysfunction, fatty liver disease, and type 2 diabetes. A study conducted by the Annals of internal Medicine revealed that men with a beer gut faced an astonishing 87 percent risk of death compared to men with the same body mass index but a normal waist-to-hip ratio. still, MakatiMed assures that it doesn’t have to be all doom and gloom. the same proven methods that promote overall weight loss—eating better and exercising more—can also help banish pesky belly fat.
“eat a healthy diet that is rich in fruits, vegetables and whole grains, while limiting your intake of processed food and saturated fats. saturated fats cause a greater increase in the amount of fat in the liver and abdomen region,” says Aragon. so, it isn’t just alcohol you need to cut down on, but also animal products like beef and pork.” Aragon also recommends getting a lot more physically active, even in small ways. “try to get at least 30 minutes of moderate aerobic activity every day and add strength training at least twice a week. Avoid prolonged sitting by taking a break from your work desk to stand or take a short walk. the point is to not fall into a sedentary lifestyle,” reminds Aragon. A beer belly, no matter how long you might have accepted living with it, is no laughing matter. they carry serious long-term health risks that should not be underestimated. By taking proactive steps toward a healthier lifestyle, you can shed unwanted belly fat and safeguard your well-being— cutting down health risks and improving overall quality of life.
Unlearning in the workplace: Part 2
Unlearning is the process of letting go of outdated knowledge, beliefs, or habits that no longer serve us. it is essential for personal growth, professional development, and adaptability, as it helps us release old patterns that hinder progress and embrace new ideas, fostering innovation and creativity.
Unlearning helps individuals and organizations stay relevant by discarding outdated methods and limiting beliefs, and opening up new possibilities. it clears mental clutter, enabling easier absorption of new knowledge especially in rapidly evolving fields like technology and medicine. Letting go of outdated beliefs or habits can also lead to greater self-awareness and personal development, and allows individuals to evolve and grow, both personally and professionally.
To jump-start the process of unlearning, first recognize the need for it. identify outdated beliefs, habits, or knowledge through self-reflection and a willingness to question long-held assumptions. When i transitioned from the academe to corporate training, I realized that adult learning differs significantly from academic teaching, which focuses on theoretical
problems. adults learn better when they can relate theory to practice, are self-directed, and when training aligns with their goals. Understanding this helped me design more effective training materials for adult learners.
Once you have identified what needs to be unlearned, actively challenge these assumptions. ask yourself why you believe what you do and whether it still holds true. When I first read that adults learn differently, there were a lot of hesitations applying the adult learning principles because they were still new to me and i had doubts whether they worked. When i got feedback from my manager, i realized the activities where i applied those principles were the ones that trainers appreciated because they were directly related to the learners’ work. it prompted me to look for other ways of making the training more practical and relevant to the learners.
i have also learned that unlearning can be uncomfortable because it often requires admitting we were wrong or have outgrown certain ways of thinking. When this happens, it is important to embrace the discomfort as a natural part of growth. To truly evolve, we must step out of our comfort zones and apply the new skills and principles we have acquired to solve new challenges we face. We need to understand that growth thrives in discomfort and adaptability.
After unlearning, it is important to replace outdated beliefs with new and more accurate ones. This may involve learning new skills, adopting different perspectives, or forming new habits. When i started designing training materials, i learned how to use microlearning by designing modules that can be taken by learners in less than 5 minutes. After
some time, it became easier for me to design and develop these kinds of training modules. Practice new learnings consistently until they become second nature.
Your environment plays a significant role in the unlearning process. it is important that you immerse yourself with new influences by engaging yourself with people, media, and experiences that support and strengthen your updated ways of thinking. This will help solidify the changes you are trying to make and help you adopt new processes consistently. Your environment will also help hinder slippage or going back to the old ways of working. When i was already managing my own team of content developers, one way that helped us consistently use new processes was to have regular huddle sessions where team members showcase their projects.
lastly, be patient because unlearning is not an overnight process. it takes time, repetition and effort to let go of old patterns and replace them with new ones. Be patient with yourself and celebrate small victories along the way. in those huddles, my team would discuss what worked well and what can be improved, and we would take turns providing alternatives and suggestions to improve their learning modules.
Unlearning is a powerful tool for personal and professional development. in a world where change is the only constant, the ability to unlearn is just as important as the ability to learn. By letting go of outdated beliefs and habits, we make room for growth, innovation and adaptability. embracing unlearning is a lifelong process that will help you stay relevant, resilient, and ready to face whatever the future holds. n
World’s best designers collaborate for elevated home spaces
the smallest details matter for anyone who wants to put together a thoughtfully designed space. this philosophy extends to the bathroom and kitchen, spaces that serve both as personal sanctuaries and reflections of one’s refined sensibilities. the most discerning homeowners and tastemakers show appreciation for good design and craftsmanship, and showcase a distinct aesthetic with Kallista, masterfully crafted interior design solutions for kitchen and bath spaces.
exclusively available at sanitec, Kallista offers a diverse portfolio of innovative and design-driven bath and kitchen solutions, engineered for optimum performance and crafted from the finest materials. it further pushes the envelope by partnering with world-renowned designers, architects, and artists to reimagine every detail.
Kallista highlights artful collections made in collaboration with international sensation, interior and product designer Laura Kirar, and 2011 Wall street Journal innovator of the Year for architecture and celebrated Danish visionary Bjarke ingels. Kirar’s Pinna Paletta collection is jewelry-inspired artistry that evokes elegance with the blending of tactile details and sculptural forms. From hand showers and faucets to towel bars and hooks, each bathroom fixture features textural etchings in luxurious finishes such as chrome, stylish unlacquered brass, and polished nickel with antique accents. sanitec carries another spectacular Kirar collection called the Kallista Foundations. having gained popularity among those looking for versatile solutions, the collection
complements everything from the traditional to the contemporary. Bjarke ingels and influential Danish design firm KiBisi collaborated on the taper collection, marrying advanced engineering with the principles of classic Midcentury Danish design. the concept removes the multiple components or parts that would usually go into a fixture, and instead keeps it at just one streamlined piece. the iF Design Award-winning taper sink Faucet, with
how much does aging affect mental acuity? it’s debatable
its signature cone-to-cylinder, forward-leaning profile, and 90-degree bend merges the countertop, faucet and running water into one visually seamless design and embodies the collection’s unconventional, playful approach without excess. elevate spaces with these designer pieces from Kallista by Kohler (www.kohler.ph). home owners can visit the sanitec showroom to learn how design-driven solutions can transform your home.
By Donald Jurivich University of North
Dakota
i cringed recently while driving to the clinic where i specialize in geriatric medicine when i heard a young radio announcer refer to old people as “wiggy,” a pejorative for wacky.
as a doctor who has extensively researched aging and age-related diseases for over 30 years, this to me is the sound of ageism unleashed.
The quip immediately underscored how easily society regards age as the sole measure of how well a person functions, rather than the person’s ability to think clearly, make decisions and perform daily tasks.
Aging And mentAl Acuity
THe tension between age and function certainly have played out on a world stage in the 2024 US presidential campaign. Prior to President Joe Biden’s withdrawal from the election process in July 2024, a writer for a national magazine asked my expert opinion as to whether either or both presidential candidates exhibited signs of dementia. My answer was that i could not make that kind of determination in the absence of neuropsychiatric testing, some laboratory tests and a comprehensive geriatric assessment. This evaluation measures the patient’s physical and mental health and assesses their ability to perform daily tasks and live independently.
The reporter then asked whether older people can be more susceptible to the effects of fatigue, stress and other psychological pressures that might be reflected in altered verbal performance. My answer was yes, and i cited examples of how an aging brain under duress may lose a train of thought or engage in excessively long pauses or disconnected topics. What’s more, our organs’ ability to self-regulate and maintain stability, known as homeostasis, declines as we age. in other words, our body does not bounce back from stressful situations as well as when we were young. For example, an older person may take two to three times longer to recover from jet lag than a middle-aged person.
the conundrum of the Aging br Ain
WHILE each organ ages at different rates, gerontologists can now estimate more accurately how a person’s biological age may differ from their chronological age. Biological age represents the physiological, biochemical or molecular profile that changes with age. The rate of this change may be slower or faster depending somewhat on genetics but mostly on lifestyle and environmental factors. The results are often surprising. One 2021 study suggests nearly half of the 38-year-old participants were up to five years older in biological age than their actual age, while the other half were as many as five years younger. But generally, in the absence of neurodegenerative disease, the aging brain works
well. research shows both good and not-so-good changes; the good changes include adaptations such as new learning strategies—such as using notes to augment memory. among the less desirable changes may be longer reaction time and reduced information processing— in other words, as we age, it may take longer to complete a task. Some older adults may also lose high-frequency hearing and miss some points in conversation, especially in a crowded environment. researchers are beginning to recognize a “no man’s land” between normal brain aging and latelife diseases of the brain. For example, periodic memory lapses may be recognized as mild cognitive impairment, which can represent a fork in the road, with half of these situations progressing to dementia and the other half either getting better or not worsening. Through adequate blood pressure control, regular exercise and cognitive engagement, many people show improvement.
cognitive fr Ailty
PHYSical frailty is characterized primarily by slowness, weakness and fatigue. But what’s now called “cognitive frailty” relates to increased sensitivity to stressors and less ability to bounce back from physical or mental stress.
although cognitive frailty is not dementia, it is a potential precursor to dementia—when patients exhibit subtle but demonstrable cognitive changes.
This is an area that many clinicians, even those working in the field every day, do not fully understand. Many of them don’t dig deeply enough into those subtle changes expressed by older patients. indeed, one study found that rural primary care doctors underrecognized dementia among their patients. Primary care is lacking in sufficient screening for cognitive disorders.
things you cAn do
PerHaPS the most important question: What can all of us do to protect our brains and bodies from the negative effects of aging and disease as we get older?
Physical activity, cognitive stimulation and good blood pressure control are the key interventions for preventing the most common form of alzheimer’s disease. research suggests that low-meat Mediterranean diets or asian indian diets, with spices such as turmeric, are buffers against brain aging. One emerging geriatrics concept is that slowing or reversing aging may circumvent dementia and other diseases. current methods to slow aging include exercise and caloric restriction, or fasting. Yet others are looking toward oral supplements or alternative medicinals.
While old age itself should not be a factor for limiting people’s service to others, former presidents and senators have shown signs of cognitive impairment and frailty while in office. the
photo by nAte hollAnd on unsplAsh
DTI Trade Fair Concludes with Record-Breaking Success, Championing Sustainability, Local Innovation
THE Department of Trade and Industry (DTI) successfully wrapped up its 2024 Bagong Pilipinas National Trade Fair (NTF), leaving a lasting impression of the nation’s dedication to sustainability, innovation, and the promotion of high-quality Filipino products. Held at the Megatrade Halls of SM Megamall in Mandaluyong City from August 21 to 25, 2024, the event, themed «Go Green! Go Local!» drew thousands of visitors and generated impressive sales for participating micro, small, and medium enterprises (MSMEs).
Organized by the DTI through the Bureau of Market Development, Promotions and OTOP (BMDPO), this year’s NTF brought together over 270 exhibitors from across the regions, showcasing a diverse range of artisanal and non-food products crafted from sustainable raw materials such as bamboo, natural fibers, and native grass. In addition, the fair featured unique food items, Halal products, coconutbased innovations, novelty items, holiday decor, and home furnishings, providing a comprehensive showcase of Filipino craftsmanship and ingenuity.
A major draw of the event were the special pavilions that featured curated selections of sustainable and innovative products. These included:
• The Philippine Sustainability Pavilion, highlighting eco-friendly products made from bamboo and natural fibers.
• The Coconut Philippines Pavilion, showcasing innovative coconut-based products.
• The Obra Pavilion, displaying creative outputs from design scholars.
• The KAPEtirya Coffee Pavilion, celebrating the rich coffee culture of the Philippines.
• The RAPID Growth Project Pavilion, promoting products from farmer-beneficiaries of the DTI’s Rural Agro-Industrial Project for Inclusive Development and Growth (RAPID Growth) project.
Additionally, the Innovation and Services Cluster provided an information hub for both the MSMEs and visitors, offering free consultations by government agencies and private sector partners.
Key accomplishments include:
• Record-Breaking Sales and Attendance: The 2024 NTF was not just a showcase of Filipino creativity but also a resounding success in terms of sales and attendance. Attracting almost 28,000 visitors, the fair
generated an impressive P72.377 million in cash sales, booked orders, and orders under negotiation for participating MSMEs, demonstrating strong consumer interest in locallymade, sustainable products.
• Business Matching and Networking: The event facilitated numerous business matching and networking opportunities, further broadening the market reach and collaboration potential for local entrepreneurs. This fostered an environment conducive to growth and expansion for MSMEs.
• Promotion of Sustainability and Innovation: The fair successfully highlighted the Philippines’ commitment to sustainability and innovation, showcasing products made from eco-friendly materials and featuring cutting-edge technologies. This emphasis on sustainable practices underscores the country’s dedication to responsible and ethical business practices.
• Empowerment of MSMEs: By providing a platform for MSMEs to showcase their products and connect with potential buyers and partners, the NTF played a crucial role in empowering local entrepreneurs. The event offered valuable opportunities for business growth and development, contributing to the overall economic progress of the country.
DTI Acting Secretary Cristina A. Roque expressed her gratitude to all participants,
Globe announces appointment of new Chief Commercial Officer
GLOBE is pleased to announce the appointment of Darius Jose R. Delgado as its new Chief Commercial Officer (CCO), effective September 1, 2024.
Delgado succeeds Maria Louisa “Issa” GuevarraCabreira, who will transition into the role of Leadership Adviser to the Chief Human Resources Officer (CHRO). Delgado, 51, brings over three decades of experience and leadership to the position. As Vice-President for Consumer Mobile Business at Globe, he has been instrumental in shaping the company’s strategic direction across various domains, including strategy, sales and marketing, and audit. His deep understanding of market dynamics, coupled with a proven track record in P&L management, has consistently driven profitability and increased share value for Globe.
“As Darius steps into his role as Chief Commercial Officer, he will report directly to me, leading our Commercial Group to unlock even greater opportunities for our business. With over two decades of experience in critical roles across Audit, Strategy Management, and leadership in B2B, Broadband, and Consumer Mobile, Darius has consistently demonstrated his ability to drive growth and sustain momentum. Over the past year, as Officerin-Charge of the Commercial Group, he has led us to new
exhibitors, and partners, underscoring the fair’s significant contribution to the growth and development of MSMEs in the Philippines. “Let this fair be a reminder that together, we can do great things. Together, we can create a future where sustainability and prosperity go hand in hand, and where Filipino products are celebrated not just here, but around the world,” she stated. Further, Roque reiterated the Bagong Pilipinas development agenda for MSMEs: “The government, the private sector, and the entire nation stand with you. We are
committed to providing you with the support, resources, and opportunities you need to thrive.”
As the 2024 NTF closed, the theme “Go Green! Go Local!” resonated strongly, leaving attendees inspired by the rich cultural heritage and innovative spirit that characterize Filipino craftsmanship. The DTI looks forward to building on this success in future events, continuing its unwavering support for the growth and prosperity of Filipino businesses.
Broadband, and B2B teams successfully executed strategic initiatives pivotal in meeting the company’s business commitments in the face of intense market competition and rapid technological changes.
“I’m deeply honored and grateful for the trust and confidence our leaders have given me. This opportunity reflects the hard work and dedication of our entire team, and I am committed to leading with the same passion and purpose that has brought us this far. Together, we will continue to drive innovation, achieve our goals of a digital nation, and create lasting value for our customers, company, and various stakeholders,” said Delgado.
DARIUS Jose R. Delgado has been named the new Chief Commercial Officer at Globe
heights, ensuring our continued leadership in Consumer Mobile. I would also like to sincerely thank Issa for her remarkable leadership and invaluable contributions. Her commitment has created a strong platform for Darius and the rest of the Commercial Leadership Team to continue our journey of growth and success,” said Ernest Cu, Globe President and CEO.
Under Delgado’s leadership, the Consumer Mobile,
Join hands: SM’s collaboration for social good
Prior to joining Globe, Delgado served as a Director at SGV & Co. (Ernst & Young) for nine years, gaining extensive experience across multiple industries. He holds a degree in Accountancy from the University of Santo Tomas, where he graduated Magna Cum Laude. In 2024, he also completed the Executive Development Program at the Kellogg School of Management, Northwestern University.
This leadership change reflects Globe’s ongoing commitment to maintaining high standards of corporate governance and adhering to all pertinent disclosure rules and regulations.
promotes health, education, jobs
services to remote areas. Just recently, SM Foundation refurbished the Polomolok East Community Clinic, a health center that caters to nearly 50,000 individuals, predominantly in GIDAs, in South Cotabato.
The renovated facility now includes areas for specialized programs such as Animal Bite and Treatment, TB-Dots, Nebulization, Counseling, and Family Planning. To support healthcare workers in their roles, the project provided an enhanced dental clinic, operation room, conference room, physicians room, and PWD-friendly restroom.
Embracing digital transformation, SM DigiKonsulta was also launched for teleconsultations and digitalization of patient records. The foundation also partnered with an NGO for a renovated pharmacy to provide the communities with reliable access to medicines. SM Foundation’s education programs place particular focus on serving underprivileged learners and communities. Its partnership with the government, particularly in the Department of Education’s Adopt-A-School Program, aims to address crucial infrastructure needs and classroom deficits. To date SM Foundation’s partnership with DepEd has resulted in 366 classrooms built, benefiting 18,300 students.
Among the beneficiaries is the San Antonio Elementary School (SAES) in Batangas, where SM Foundation constructed a two-floor, four-classroom building.
“Instead of class hours being from 6 a.m. to 12 noon, it will now be from 7 a.m. to 3 p.m. Our students will now have enough time for intervention activities such as reading, numeracy and more,” said Joy Obreo, principal of SAES.
The SM Store’s Shop & Share for Education program is likewise focused on education, helping address the lack of basic school supplies. It’s an innovative program as it invites shoppers to contribute to the effort by sponsoring a school kit for a minimum single-receipt purchase. Shop & Share for Education aims to distribute back-to-school kits to 12,000 grade school pupils in more than 70 public schools nationwide. The first Shop & Share initiative in 2023 benefited
Fover three
Cravings has been celebrated for its home-style cooking and luscious desserts. Also renowned for its exceptional
Cravings Catering is
for any occasion or celebration, whether
or
in any venue or location. As it enters its 36th year, Cravings continues to delight both loyal patrons and new customers with exciting updates. The expanded menu, curated products, and enhanced catering service options offer something for everyone to enjoy.
Introducing the “House of Cravings” — a Dessert Bar and Events Place located in the heart of Quezon City’s renowned food district, Maginhawa Street. A standout feature of the House of Cravings is its monthly “Unlimited Cake and Coffee Buffet,” showcasing Cravings’ signature offerings.
The Dessert Bar boasts an array of classic cakes, including Chocolate Caramel, Devil’s Food Cake, Carrot Cake, Cherry Walnut Cheesecake, Mango Cashew Torte, and Strawberry Shortcake. To make the selection more exciting, seasonal favorites such as the unique Polvoron Cake and the delectable Dayap Cake will also be featured.
For those with a sweet tooth, the selection extends to Fudge Walnut Bars, Mango Butterscotch, and Red Velvet Brownies. Freshly baked croissants and Pain Au Chocolat add a touch of classic elegance, while Gelato Manila flavors and Homemade Chocolate Sauce with Bread and Butter Pudding offer delightful pairings.
For the “Unlimited Cake and Coffee Buffet,” pair your cakes with a perfect cup of coffee from a selection that includes Cravings Blend, Latte, Cappuccino, or Frosted Java. The House of Cravings also offers savory delights such as Roast Beef Open-Faced
in Geographically Isolated and Disadvantaged (GIDA) areas, are geared to meet PhilHealth Accreditation standards. The foundation works with the
and
SM Foundation refurbished the Polomolok East Community Clinic in South Cotabato
FACADE of Cravings and CCA Manila in 28 Maginhawa Street, Quezon City.
Editor: Tet Andolong
Calabarzon remains a favorite of property developers
By Rizal Raoul S. Reyes @brownindio
Southern Luzon has always been recognized as a major economic growth driver of the country. Furthermore, it is one of the key contributors to the country’s annual economic output, accounting for about 14.5 percent of the gross domestic product (GDP).
Aside from being a major industrial hub hosting high-value manufacturers, Region IV-A (Calabarzon) is also the choice of property developers for building their landbanking to meet the demand from both investors and end-users. As of January 2024, Lamudi reports that Calabarzon and Central Luzon have the highest supply of affordable homes for sale in Luzon Island. Cavite in Calabarzon and Bulacan in Central Luzon were the provinces with the highest number of housing units worth P1.5 million and below, based on Lamudi data for 4Q 2023.
“Colliers Philippines believes that residential demand in Calabarzon will continue to thrive and the following macroeconomic indicators only bolster the region’s growth prospects,” says Colliers Philippines research director Joey Roi Bondoc.
He points out that infrastructure projects further enhance the competitiveness of Calabarzon as an industrial hub. Moreover, Bondoc believes public projects likewise motivate property developers to beef up their landbank here and establish integrated communities as well as stand-alone
residential projects that can cater to rising demand for such spaces in the region.
“As Colliers Philippines highlighted previously, the infrastructure projects implemented by the Philippine government have helped redefine and redirect developers’ expansion strategies,” says Bondoc.
Japanese-inspired project joins the boom W I t H the slowdown in the Metro Manila residential market, developers have given a serious look at the market outside the capital region. “Disruptions in the Metro Manila market have been compelling developers to rethink their strategies and capture steady end-user demand especially in key growth areas outside of the capital region,” says Bondoc. Hana Garden Villas, the pioneering Japanese designer enclave south of Metro Manila, recently held a groundbreaking ceremony for the construction of its clubhouse led by officials of its developer, Chan toei Properties (C t P), along with project team consultants, partners and special guests from the local government. t he development—located in
Cabuyao, Laguna, less than an hour from Metro Manila—offers modern homes inspired by Japanese design and constructed using state-of-the-art Japanese engineering and building technology. C t P is a partnership between Filipino-owned Prime Eastern Spring Holdings (PESH) and t OEI Housing Corporation ( t OEI) of Japan.
Hana Garden Villas boasts a design team made up of renowned local and international firms and consultants. t he clubhouse was designed by Jorge Yulo Architects and Associates (JYAA). t he overall master plan was conceived by Joel Luna Planning and Design, while the landscaping was created by CLARQ Design Studio. t he villas come in three- and four-bedroom options, featuring design concepts by Leandro V. Locsin Partners, t OEI and Fedore O. Yap Architects (FOYA).
At the event, C t P Chairman Jose Mari Chan underscored the vital role that the clubhouse will play in shaping Hana Garden Villas as a truly distinctive neighborhood. “ t he clubhouse will be a place where our homeowners can gather together in friendship and camaraderie—a community of
shared joy,” he said. Architect Jorge Yulo reflected on his childhood memories, growing up on the former agricultural estate that now houses Hana Garden Villas. “Be -
ing able to design a structure to be built here is an amazing opportunity for me,” he shared. “I can guarantee you a project where future residents can create their own memories, become part of the place and happily call it home.”
C t P Chief technical Officer tomokazu Aoyama enumerated the amenities that Hana Garden Villas homeowners will be able to enjoy, namely, a function hall, gym, swimming pool, kids’ playroom and garden. In a video message from Japan, t OEI President Chihiro Sato expressed his pride in the continued realization of C t P’s vision of Hana Garden Villas. “We held the groundbreaking ceremony for the site development work two
years ago, and now we are finally able to achieve another groundbreaking for the clubhouse. I am happy for our progress, and I would like to express my deep gratitude for everyone’s support, including our buyers who have appreciated our product,” he stated. Having been launched in 2022, construction at Hana Garden Villas is now in full swing. Its well-planned, contemporary home designs have all been warmly received by the market, such that 95 percent of the inventory in its first three phases is now sold out. t he development recently opened its fourth and final phase for prospective buyers and hopes to turn over its first set of units to owners in the next several months.
COLLIEr
Filipino coaches need to be schooled–Tats
By Aldrin Quinto
MORE international events are expected to be held in the country as the Philippine National Volleyball Federation (PNVF) seeks to help boost not only the level of play but also the caliber of coaching.
PNVF chief and recently-elected Asian Volleyball Confederation (AVC) president Ramon “Tats” Suzara is encouraging coaches of domestic professional teams to watch the foreign clubs when they are in town as he revealed plans to put up an AVC Champions League.
“It’s not all about spiking,” Suzara said during the Philippine Sportswriters Association Forum on Tuesday. “We need to learn more effective floor and net defense.”
The AVC chief is set to discuss plans with the professional leagues from Korea, Japan, Thailand, China and other top leagues in the continent to establish a series much like the European club competitions.
The Alas Pilipinas teams played Japan V.League clubs Osaka Bluteon and Saga Hisamitsu Springs over the weekend, just a month after the country hosted the Southeast Asian V.League with the Philippine men’s national team clinching bronze against Indonesia, Vietnam and Thailand. Before that, PNVF hosted a leg of the prestigious Volleyball Nations League featuring Olympic champion France, world No. 3 United States, sixth-ranked Japan, No. 8 Germany, 11th-ranked Canada and No. 13 the Netherlands.
Suzara said that it is good that the Philippine team is currently working with two of the best coaches in the country,
Dante Alinsunurin and Odjie Mamon, as Alas Pilipinas learns under Italy’s Angiolino Fridoni, who has coached the Italian women’s team in the Olympics.
But the AVC chief hopes to see other coaches at the venues and said he has asked Alas Pilipinas program chairman Ricky Palou, who is also president of the women’s domestic professional series Premier Volleyball League, to encourage local coaches to be there.
“We’d like to encourage the coaches to advance themselves,” Suzara said. “I would like for the coaches to study more advanced coaching.”
Gearing up for SEAG, FIVB Worlds ALAS PILIPINAS gears up for training in Italy later this month as part of the preparations for the FIVB Volleyball Men’s World Championship next year.
“We need to improve, improve, improve,” Suzara told the forum presented by San Miguel Corp.,
Philippine Sports Commission, Philippine Olympic Committee, Milo, Smart/PLDT and the country’s 24/7 sports app Arena Plus.. “Our national teams need 30 international matches a year. And we will do this. If possible, they’ll be abroad for a year, we will do that though it’s expensive.”
The international exposure—Alas Pilipinas Women posted back-to-back bronze medals in away events in the SEA V.League—should also boost the country’s chances in the 2025 Southeast Asian Games.
Suzara made a bold prediction that the teams would earn medals in Thailand.
“We have a big chance to get the gold next year,” Suzara said. “We are now beating Vietnam in the men’s tournaments and Indonesia in the women’s events.”
Suzara said that when he came on board as PNVF president in 2021, the Philippine teams were ranked No. 117
in the world. After nearly three years under his watch, the men are now at No. 56 and the women at No. 63.
“I want them to go up higher in the rankings like what Gilas Pilipinas is doing,” added Suzara, adding that improvement should not only come from players but the coaches as well.
On the national team level, Suzara is looking at more international exposures, and down the line, the sports organization genius wants to strengthen the grassroots development while looking for new talents, younger and taller, in the 14-under, 16-under, 18-under and 21-under age groups.
“We will go back to the grassroots in Luzon Visayas and Mindanao. There’s still a lot of tall players in the provinces. I’m sure there are many.”
Go, Cayetanos hail Alas Pilipinas teams in Senate banquet
TBy Josef Ramos
HE Alas Pilipinas Men and Women took centerstage at the Senate on Monday afternoon and provided a welcome relief from the legislators taxing day to start the week.
Senators Christopher “Bong” Go, Alan Peter Cayetano and Pia Cayetano led their colleagues in welcoming the members of the national teams who came in full force as the year-to-go countdown to the Philippines’ solo hosting of the FIVB Volleyball Men’s World Championship 2025 starts this week.
Pilipinas Men were rewarded with cash incentives of P100,000 each for their bronze medal finishes in the first two legs of the Southeast Asian V.League two weeks ago in Manila and Jakarta.
“You all proved how great Filipino athletes are on the international stage,” Go said. “You may not have walked away with a gold medal, but you have achieved something extraordinary and in doing so, you have inspired millions of Filipinos.” Go extended the incentives to the athletes through the Philippine Sports Commission with the Alas Pilipinas Women already
bonuses in May for their bronze medal in the Asian Volleyball Confederation Challenge Cup at the Rizal Memorial Coliseum.
“I really mean this from the bottom of my heart, you inspire us,” Senator Alan Cayetano told the athletes in a private banquet at the Senate. “[Philippine National Volleyball Federation president Ramon] Sir Tats [Suzara] and to all the officers, it’s really a privilege for Ate (Senator Pia) and I to share in your victories. Keep pushing us.”
The 24 athletes from both teams were hailed through Senate Resolutions Nos. 1182 and 1183 introduced by the Cayetanos and supported strongly by Go.
Thistoric landmarks making it a must-do event in the country’s running calendar.
To ramp up excitement, a pre-run race dubbed the EVO City Front Act Run will take place on October 20 at EVO City in Cavite.
The Ironman Group, organizer of the Rock ‘n’ Roll (RnR) Series, is gearing up for the event’s third edition with more than 4,000 runners in various categories already in the roster two months before the event.
“It’s all about having fun. It’s about memories, miles, music, medals and Manila,” said Princess Galura, general manager of Sunrise Events,
This Sinner has big heart
IS the changing of the guards now for real?
Seemingly, that’s on the lips of everyone in the tennis
part of the Ironman Group, during Tuesday’s Philippine Sportswriters Association Forum at the Rizal Memorial Sports Complex. Galura was joined by race director Julian Valencia and Manila Sports Council’s Ruel de Guzman in the forum presented by San Miguel Corp., Philippine Sports Commission, Philippine Olympic Committee, Milo, Smart/PLDT and the country’s 24/7 sports app Arena Plus.
Registration fees are P2,150 for 5K, P2,650 for 10K, P3,500 for 21K and P3,950 marathon. The fees will increase starting October 1.
world after Jannick Sinner won the US Open men’s singles on Monday. Sinner, the 23-year-old Italian who’s been world No. 1 for quite some time now, was thoroughly unforgiving in beating American Taylor Fritz, 6-3, 6-4, 7-5, before a jampacked crowd at Flushing Meadows’ famed Arthur Ashe Stadium in New York City. Among those at ringside were Hollywood stars Matthew McConaughy, Eddie Redmayne and the legendary, in his eighties, Dustin Hoffman. They were joined by superstar singers Taylor Swift, Usher and Bon Jovi. All six were rooting for Fritz— naturally. Fritz, 26, was aiming to end the American drought in the US Open after Andy “The Rocket” Roddick last won it in 2003.
“I know we have been waiting for a champion for a long time, so I’m sorry I couldn’t get it done,” Fritz said. How could he get it done when he could only be at a
“We asked the athletes to be present today so they know that many of us here are big supporters of the budget of sports in the Philippines,” Senator Pia Cayetano said. “I need them to know and understand that we believe that sports is one of the pillars for development in our country.”
Senate President Chiz Escudero, President Pro tempore Jinggoy Estrada and Senators Joel Villanueva, Imee Marcos, Nancy Binay, Robinhood Padilla, Bong Revilla, Ronald De la Rosa, Koko Pimentel, Risa Hontiveros, JV Ejercito and Majority floor leader Francis also hailed the volleyball players.
Zaragosa,
Suzuki
lead as pressure mounts at JPGT Sherwood Hills
Team PHL plunges into Olympiad action
THE Philippines sees action in the 45th FIDE Chess Olympiad starting Wednesday at the BOK Sports Hall on Budapest with a modest goal of matching or surpassing its 32nd place finish in the men’s contest and 39th-spot performance in the women’s division two years agoin Chennai, India.
“We are ready,” said 20-yearold grandmaster (GM)-aspirant Daniel Quizon, who arrived in the Hungarian capital on Tuesday with the first batch of athletes whose participation in the Olympiad is bankrolled by the Philippine Sports Commission.
Quizon will man the top board for the men’s squad in the first two rounds—possibly three—with GM Julio Catalino Sadorra scheduled to arrive in Budapest only on Friday.
International Master (IM) Paulo Bersamina will play second board while GM John Paul Gomez and Jan Emmanuel Garcia will be on the third and fourth boards, respectively.
Woman GM Janelle Mae Frayna
PRECIOUS ZARAGOSA hung tough with a one-shot lead and Ryuki Suzuki pulled ahead by four strokes in the 13-15 category in Tuesday’s first round of the International Container Terminal Services Inc. (ICTSI) Junior Philippine Golf Tour (JPGT) final leg for the Luzon Series at the Sherwood Hills Golf Club in Trece Martires, Cavite. Zaragosa overcame a late-round mishap for a 79 and a one-stroke lead over Kendra Garingalao while Suzuki engaged with Korean Chan Ahn shot-for-shot and closed out with a 36 on the frontside highlighted by a chipin birdie on the fifth for a 74. The windy conditions and the demanding course layout added further challenges to the field, with several players fighting for crucial ranking points in this final leg of the nationwide series organized by Pilipinas Golf Tournaments Inc. for the Match
dismal 38 percent in serving, coming up with an awful 11/29 on first serve?
As a result, Sinner relentlessly pounced on it, making him only the second Italian to win the US Open after Flavia Pannetta ruled this major’s women’s singles in 2015.
At the same time, it made Sinner the fourth man to win both the Australian Open in January and the US Open this month in the same season after Mats Wilander, Roger Federer and Novak Djokovic.
will lead the women’s campaign along with battle-scarred Jan Jodilyn Fronda, Shania Mae Mendoza and Bernadette Galas and young and talented Olympiad first-timer Ruelle Canino.
The other members of the delegation are coaches GMs Eugene Torrre and Jayson Gonzales and delegation head Atty. Roel Canobas. The pairings were drawn on Tuesday night for the 11-round Swiss System tournament where a win merits two points and a draw one point. Gomez is seeing action in his seventh Olympiad.
“We are eyening a top 20 finish, it’s just that the field is too strong,” said Gomez, the eldest on the team like Sadorra. Frayna opted to play for the women’s team instead of becoming the first Filipina to play for the men’s squad.
“This is for the country,” she said.
Play Championship set October 1 to 4 at The Country Club in Laguna. Zaragosa, winner at Splendido Taal and Luisita, lost a two-shot advantage at the par-five No. 8 but capitalized on Garingalao’s last-hole miscue to stay ahead.
“My long game was off, but I made up for it with decent putting,” said the 13-year-old Zaragosa, who is determined to solidify her hold on the No. 3 spot in the rankings for a national finals berth.
“The course is tough, especially the greens, which are very unpredictable,” she said. “It was also pretty hot, but I drank a lot of water to keep cool.” Zaragosa has 46 points in the series to trail main rivals, twins Lisa and Mona Sarines, who are 1-2 with 50 and 48 points, respectively, with Levone Talion, absent at Sherwood, in fourth with 43. Montserrat Lapuz (36 points) and Garingalao (28 points) are still in contention, hoping to secure finals spots with strong finishes in the final two rounds of the 54-hole tournament.
The other two of the year’s four majors went to Spaniard Carlos Alcaraz in the French Open last June and the Wimbledon earlier, fueling the feeling that Alcaraz and Sinner are out to begin a new tennis reign for youngsters. With both Sinner and Alcaraz, who turned 21 last May 5, halving all 2024 majors, it marked the first time since 1993 that two players 23 years or younger won all four majors in one season. “It is nice to see for the sport with some new champions,” said Sinner, who dismissed Fritz in 2 hours and 16 minutes in a dazzling display of controlled firepower practically all throughout. “I feel like the new generation we push
RAMON “TATS” SUZARA comments on Filipino coaches: They need to learn more effective floor and net defense. NONIE REYES
PRECIOUS ZARAGOSA and Ryuki Suzuki are on track in Trece Martires.
