THE labor department said on Wednesday that it has completed the profiling of almost 27,000 Filipino workers who will be affected by the nationwide ban on all Philippine Offshore Gaming Operators (Pogos).
As of September, Department of Labor and Employment (DOLE) Secretary Bienvenido Laguesma said the department had already profiled 54 Pogos or Internet Gaming Licensees (IGLs), which directly employ a total of 26, 996
local workers.
Additionally, there are 2,549 Filipinos working indirectly for the profiled IGLs through their attached service providers.
According to the labor secretary, most of these IGLs are concentrated in the National Capital Region, with some operations in Region IV-A and Region VII.
“There are still six who haven’t submitted their list, but we won’t wait for them. If they don’t submit, we will go to them because the President’s directive is clear. We have to help the workers,” Laguesma said in Filipino.
During the profiling process, DOLE gathers basic information from the workers such as their age, employment status, nature of work, and salary level. The labor secretary said that this data will enable the department to determine what forms of intervention it can provide the affected workers.
“Expectedly, by the first week of October, we are ready to provide help for these workers,” he said.
To support the displaced employees, DOLE will hold a special job fair in October exclusive to those affected by the POGO ban.
“For those workers we’ve profiled who match available jobs, we will intervene through direct referrals to companies,” Laguesma added. Aside from employment facilitation, displaced employees will get access to different forms of assistance like livelihood projects, training, retraining or upskilling. With these efforts, DOLE aims to ease the transition for workers affected by the ban and help them find alternative sources of employment or income.
THINK TANK FLAGS PHL LOW-QUALITY GROWTH
By Cai U. Ordinario @caiordinario
THE decline in employment as inflation increased in the Philippines in recent months— and vice versa, as unemployment rose when inflation slowed —may have been due to poor quality economic growth, according to a United Statesbased think tank.
By Andrea E. San Juan @andreasanjuan
THE Contact Center Association of the Philippines (CCAP) is calling on the IT and Business Pro
cess Management (IT-BPM) industry to formulate solutions to strengthen cybersecurity among subsectors and business process outsourcing (BPO) firms to maintain global competitiveness. In a statement on Thursday, CCAP President Mickey Ocampo encouraged BPO companies
to prioritize cybersecurity as a “core component” of their operational strategies so they could contribute further to a “more secure and resilient industry.”
“Continuous engagement and investment in innovative security technologies are critical for maintaining global competitiveness and trust,” Ocampo said. The CCAP president underscored that digital trust is “pivotal” in the Contact Center and Business Process sector.
By Jovee Marie N. dela Cruz @joveemarie
HE
next week, with target final approval date of September 25, a leader of the lower chamber announced on Thursday.
Marikina City Rep. Stella Luz Quimbo, senior vice chairperson of the House Committee on Appropriations, announced that the committee's recommendations under House Bill 10800 have now been transmitted to the plenary for another round
of deliberations.
“The approved committee report, which includes the recommendation to reduce the OVP's [Office of the Vice President] budget, has moved forward for plenary debates beginning September 16,” Quimbo said during a news briefing.
“If we adhere to the schedule and nothing too eventful happens, we hope to approve the GAB on the third reading by September 25,” she added. Quimbo emphasized that there is still an opportunity for amendments during the plenary sessions from September 16 to 25.
Continued from A1
“There are available jobs, but what’s important is ensuring that these IGL workers are matched to the right opportunities,” Laguesma emphasized.
Foreign POGO workers
T HE labor secretary also clarified that foreign workers are not part of DOLE profiling.
“We need to prioritize our Filipino workers…Foreign workers should have an AEP [alien employment permit] if they are not exempted,” Laguesma said.
Instead of giving direct job or livelihood assistance, DOLE said it can give “guidance” and “advice” to foreigners affected by the Pogo ban.
The DOLE can facilitate foreign workers’ applications in finding a new employer— as long as their AEPs are still valid. However, if they fail to find new jobs by the end of the year, DOLE said it cannot do anything if the Bureau of Immigration (BI) will deport them.
IT-BPM...
“We must earn clients’ trust and assure them that their sensitive information is always handled with utmost
Pagcor: No plans to revive e-sabong sans PBBM order
By Reine Juvierre Alberto @reine_alberto
PHILIPPINE Amusement and Gaming Corporation (Pagcor) asserted that it would not revive online cockfighting, commonly known as e-sabong, as it received no marching orders from the president, according to its top official.
Pagcor Chairman and Chief Executive Officer Alejandro H. Tengco told reporters, “ Wala pong marching orders ang Pangulong Bongbong Marcos sa pagre -reopen ng e-sabong [The President has given no marching orders on the reopening of esabong],” Tengco said, adding that there is no such thing amid people
Continued from A1 integrity and security,” said Ocampo. With this, he called on BPO firms to give importance to transparency, accountability, and reliability in their cybersecurity practices to maintain the sector’s leverage in the global market. “We must also demonstrate our
going around claiming otherwise or speculating about its revival.
E-sabong is online betting on live cockfighting matches streamed or broadcasted live from cockpit arenas authorized by the local government units (LGUs) having jurisdiction over them. Pagcor’s role is to regulate e-sabong by issuing licenses to
strong commitment to digital trust to establish our sector as leaders in the IT-BPM industry and to cement our competitive advantage in the global market,” Ocampo explained.
CCAP, the largest subsector under the IT-BPM industry, noted that as
operators. In May 2022, former President Rodrigo Duterte suspended e-sabong operations, amid rising alarm over the dozens of cases of e-sabong workers or stakeholders who have gone missing and were feared abducted in the fallout of scams related to the operations. The current Marcos Jr. administration reiterated the suspenson through the issuance of Executive Order No. 9 in December 2022.
“Definitely, e-sabong is not on the horizon or not in the mind of the president at this very moment,” Tengco stressed.
Despite the ban, Tengco earlier said e-sabong operations still prevail and are unregulated by the government. The Pagcor chief also told Congress that the agency is studying the revival of e-sabong and enhancing its
early as 2022, there have been warnings about existing gaps in cybersecurity capacity in the Philippines.
Citing a report by the United States Agency for International Development (USAID), CCAP said up to 75 percent of the BPO segment could be at risk if cyberattacks and cyberfraud would not be properly addressed and prevented.
The USAID study also highlighted the shortage of cybersecurity professionals in the country.
As to the initiatives of the government, CCAP reported that in August, the Department of Information and Communications Technology (DICT) made public the national strategies for National Cyber Security Plan (NCSP) 2023-2028.
Those include the establishment of a national network of Computer Emergency Response Teams (CERTs) and a National Cybersecurity Intelligence Fusion Center that would oversee all sectors.
“There would also be an ICT Academy with a Cybersecurity Center of Excellence to bolster capabilities of cybersecurity professionals in the country,” added CCAP.
Think...
Continued from A1
However, the country’s unemployment rate slowed to 3.1 percent in July but increased to 4.7 percent in August. While this was consistent with the negative correlation between unemployment and wages in the economy, the reason could be poor quality economic performance.
“This short-run negative correlation implies that government may find it unwise to set unemployment targets below the natural rate. For central banks, aside from demand-pull and cost-push supply shocks, inflation could also be triggered by inflationary expectations which could cause the trade-off, or in a few cases, stagflation,” the analysts said.
“This seems to be happening in the Philippines in June and July. But a factor that could also explain it is structural, or the quality of economic growth. While the second-quarter 2024 growth stood at 6.3 percent, it looks like the job-creating impact of higher economic growth was not sustained in the subsequent month,” they added.
previous guidelines.
Meanwhile, Tengco said Pagcor will continue to abide by the order and await further instructions from Marcos Jr.
When asked if he sees the need to revive e-sabong, Tengco said, “Not at this moment. I do not know if that will even come.”
Economic managers opposed the revival of e-sabong, saying it is unnecessary as an additional source of revenue for the government.
Although foregone revenues were cited, Tengco also raised esabong’s social consequences. To recall, 34 individuals involved in online cockfighting activities went missing between April 2021 and January 2022. Until now, no one has been found as authorities have yet to find any proof of life.
Meanwhile, the call center group said it has already implemented a system that its members could use to reference online fraud-related issues.
The system has been fully reviewed by the National Privacy Commission and approved for use subject to policies and guidelines on the use of the system, said CCAP.
“CCAP has always been taking the proactive approach because we understand that security breaches can significantly and abruptly disrupt services and operations, which may lead to financial losses, damaged reputations, and undermined client trust,” said Ocampo.
CCAP also noted that it is gathering top executives and managers from business continuity planning (BCP), security, IT, compliance, and risk management departments of member companies for the Digital Trust Summit on September 16, 2024 at The Westin Manila in Mandaluyong City.
The day-long conference is aimed at equipping attendees with the tools and knowledge to navigate trust and risk in the digital age.
The analysts also said that the National Economic and Development Authority (Neda) may have “missed the point” when it said that the unemployment rate was comparable to the 7.9-percent rate in India and 5.1 percent in China.
“Any percentage increase in the unemployment rate means economic disenfranchisement of those who failed to land a job. The challenge of high incidence of poverty remains in the Philippines,” Guinigundo and Mañalac said.
Nonetheless, the analysts recognized that the Neda is already finalizing the Trabaho Para sa Bayan (TPB) Master Plan to enhance job opportunities and work skills for Filipinos.
The TPB Plan, they said, will serve as the country's comprehensive employment generation and recovery master plan, aimed at addressing issues on unemployment.
They also agreed that the Konektadong Pinoy Bill will be a good complement to the TPB as the proposed legislation has the potential to hasten upskilling and advance the country's digital transformation.
“Moving forward, the expected decline in the inflation rate may be expected to boost private
House...
Continued from A1
“Let me clarify that another round of amendments will take place during the plenary. We expect this process to occur within that one-week window,” she explained.
After the House passes its version of the GAB, the bill will be transmitted to the Senate for deliberations. The Senate will then work on its own version of the appropriations bill, which may differ from the House version.
Once both chambers of Congress approve their respective versions of the budget, a bicameral conference committee will convene to reconcile any differences between the two versions. After the bicameral meeting, the reconciled budget will be subject to ratification by both the House of Representatives and the Senate before it is forwarded to the President for final approval.
Quimbo assured the public the process would be transparent and involve a comprehensive review before the final approval.
The total budget is P6.352 trillion, or 22.1 percent of GDP, with P4.247 trillion for new appropriations and P2.105 trillion for automatic appropriations. For sectoral allocations, social services receive P2.121 trillion (33.38 percent of the budget) for health and education; economic services get P1.853 trillion (29.16 percent) for food security, natural resources, and infrastructure; general public services are allocated P1.083 trillion (17.05 percent), and defense receives P419.3 billion (6.60 percent). Under the GAB, P876.73 billion (13.80 percent of the budget) is allocated for debt payments. The GAB shows that education receives the largest share at P977.6 billion, the Department of Public Works and Highways follows with P900 billion for infrastructure projects, the Department of Health is allocated P297.6 billion for healthcare programs, the Department of the Interior and Local Government with P278.4 billion, the Department of National Defense with P256.1 billion, the Department of Social Welfare and Development with P230 billion, the agriculture sector with P211.3 billion, transportation with P180 billion, the judiciary with P63.6 billion, and justice with P40.6 billion are also prioritized.
consumption, thus supporting a strong GDP performance. This in turn can paint a more positive employment outlook,” Guinigundo and Mañalac said.
Metro Manila’s woes L AST week, the PSA data showed Metro Manila, the nation’s economic and political center, lost the most jobs and created the least employment in July 2024. With this, the number of jobless Filipinos increased to 2.38 million in July 2024. This represented a year-on-year increase of 86,000 workers and an increase of 334,000 workers in April 2024. While 47.7 million Filipinos were employed in July 2024 and this was 3.14 million higher than July 2023, this represented a 657,000 reduction in jobs compared to April 2024.
Mapa noted that 1.02 million youth, or those aged 15 to 24 years old, accounted for 43 percent of the total unemployed, which was at 2.38 million.
However, Mapa said things could improve starting this September, as it is the unofficial start of the Christmas season in the Philippines. The “ber” months could lead to the rise in jobs. (See: https://businessmirror.com. ph/2024/09/07/ncr-lost-most-jobs-hadfewest-new-ones/).
A4
Friday, September 13, 2024
House QuadCom cites Roque in contempt anew
TBy Jovee Marie N. dela Cruz @joveemarie
HE House Quad Committee once again cited former Presidential Spokesman Harry Roque in contempt and ordered his detention for failing to submit subpoenaed documents related to the investigation into his alleged connections with illegal Philippine Offshore Gaming Operators (Pogo).
The joint committee, chaired by Surigao del Norte Rep. Robert Ace Barbers, ordered that Roque be detained at a facility within the House of Representatives until he either submits the required documents or the investigation is concluded.
Bukidnon Rep. Jonathan Keith Flores moved to cite Roque in contempt and mandate his detention, invoking Section 11(d) of the House Rules of Procedure Governing Inquiries in Aid of Legislation, which addresses non-compliance with subpoenas and failure to provide requested documents. The motion was unanimously approved by the joint committee.
Additionally, acting on a motion from Batangas Rep. Gerville Luistro, the Quad Committee rejected Roque’s latest attempt to quash the subpoena demanding various documents, including business records, tax returns, and Statements of Assets, Liabilities, and Net Worth (SALNs). Roque had previously committed to submit these documents during the August 22 hearing.
This marks the second time Roque has faced contempt charges from the Quad Committee. At the August 22 hearing, he was cited in contempt for allegedly misleading the committee about his absence from the August 16 session in Porac, Pampanga. He was detained for 24 hours and warned that any further “contemptible” behavior on his part would result in more severe penalties.
Having missed the last three hearings, Roque was likewise issued a subpoena compelling him to appear and testify before the committee at its next scheduled hearing. The committee considers the documents
being required from Roque as crucial to its investigation into his alleged ties to illegal POGOs.
“It is the humble submission of this representation that the Quad Committee has established overwhelming circumstantial evidence showing the connection of Atty. Harry Roque to Lucky South 99, which is a Pogo operation,” Luistro said during Thursday’s hearing.
Lucky South 99 is an illegal Pogo hub in Porac, Pampanga, raided last June, where authorities uncovered evidence of human trafficking, torture, scam farms, prostitution, a pornography hub, and various other illegal activities.
Roque denied any involvement with Pogos, but Luistro pointed out the stark contrast between his modest government salary and the sudden surge in his assets, including shares in Biancham Holdings, a family-owned company.
Luistro argued that Roque’s inability to explain the sources of his wealth would
further bolster the evidence of his potential involvement in Pogo operations.
She also noted that the investigation could pave the way for legislative reforms, possibly revisiting laws such as the AntiGraft and Corrupt Practices Act, the Code of Conduct and Ethical Standards for Public Officials and Employees, the Anti-Money Laundering Act, Corporation Law, and even the Code of Professional Responsibility and Accountability for Lawyers.
The committee has requested several documents from Roque, including the deed of sale for land in Multinational Village, Parañaque City; documents on the transfer of Biancham shareholdings; the extra-judicial settlement of his aunt’s estate; SALNs from 2016 to 2022; and his 2018 income tax return.
During one of the previous hearings, Luistro questioned Roque’s business activities and financial records, pointing to significant inconsistencies between his declared assets and those of Biancham Holdings.
Go writes, co-sponsors E-Governance bill
SEN. Christopher Go, in a co-sponsorship speech delivered on Wednesday, September 11, highlighted the transformative potential of Senate Bill 2781, also known as the E-Governance bill. The proposed legislation aims to modernize government operations through digital means, allowing services to be more accessible, transparent, and efficient.
Go emphasized that he has long championed e-governance, having filed his own version of the bill. “I filed Senate Bill 194 because it is my belief that with e-governance, we are not just embracing new technology, we are also enhancing government’s transparency, efficiency, and accessibility,” he said.
“This bill represents a crucial step toward modernizing our governmental operations and ensuring that our institutions are not
just efficient but also resilient in the face of evolving challenges,” Go emphasized, pointing to the need for adaptation in the digital age.
He laid out the central goal of the bill: making government services more accessible to ordinary Filipinos, particularly workers, fishermen, farmers, students, and those seeking livelihoods.
Go directly referenced the social contract theory, which he used to emphasize the government’s duty to deliver services to the public.
As one of the authors and co-sponsors of the measure, Go thanked Senator Alan Peter Cayetano for principally sponsoring the bill and pointed out how the Covid-19 pandemic revealed the urgent need for such reforms.
Teodoro to stay at DND
By Samuel P. Medenilla @sam_medenilla
PRESIDENT Marcos on Thursday branded as “fake news” reports that Defense Secretary Gilberto C. Teodoro has resigned. In an interview with Palace reporters after the distribution of P43.4 million worth of government aid to oil spillaffected fishermen in Navotas, Marcos laughed off reports that Teodoro has already left his Cabinet.
After hearing of the said rumors circulating online, the Chief Executive said he personally called Teodoro to confirm the matter.
“Will you resign? He [Teodoro] said, ‘Why? Will you ask me to leave [the Cabinet]?’ told him ‘Why will I ask you to leave, when we have no problem [with one another]?’ That is not what is appearing in the news,” Marcos said in Filipino.
Teodoro wanted to ignore the issue, but Marcos said he decided to address the rumor to stop it from spreading causing public misinformation.
“If there will be any changes in the Cabinet, in the government, we will announce it. Not just anyone who will post [online],” Marcos said. In a brief statement issued on Thursday, Presidential Communications Office Secretary Cesar B. Chavez said that Teodoro continues to enjoy the President’s “full trust and confidence.”
“Rumors to the contrary are pathetic attempts to sow disunity in an organization united in protecting our people and defending our territory,” he said.
Chavez issued the clarification amid the claims, which are circulating online that Teodoro is no longer the head of the Department of National Defense (DND).
“Busy as they are with their mission, we should spare our fighting men of the corrosive politicking that has no place in their ranks,” he said.
The “fake news” on Teodoro surfaced following the recent changes in the Marcos Cabinet, which includes the firing of Immigration Commissioner Norman G. Tansingco and the resignation of Bases Conversion and Development Authority (BCDA) chairman Delfin N. Lorenzana. PCO Secretary Cheloy V. Garafil and National Youth Commission (NYC) Chairman Ronald L. Cardema were also recently replaced by new officials. Garafil was reassigned as head of the Manila Economic and Cultural Office in Taipei, vice Ambassador Silvestre Bello III.
As of Thursday, Marcos assured there were no new changes in his Cabinet.
At Camp General Emilio Aguinaldo, Quezon City, Director Arsenio Andolong, DND spokesman said: “There is no truth to the rumor perpetrated by certain sectors online about the supposed resignation of Secretary of National Defense Gilberto C. Teodoro Jr.”
In a statement sent to reporters, Andolong called on those who “purposely propagate unfounded lies” to be “circumspect and refrain from spreading misinformation and disinformation as this aims to sow disunity among Filipinos.” Andolong also said that Teodoro and the rest of the DND are focused squarely on boosting the nation’s capabilities to protect our territorial integrity and sovereignty.
“We urge the public to be vigilant against misleading claims that aim to sow discord among the Filipino people and divert our attention from the real challenges that beset our country,” Andolong said. With Rex Anthony Naval
Chavez called out the unscrupulous individuals, who are spreading such fake news against Teodoro and other Cabinet officials for political gain.
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SC nixes oil firms’ plea to stop DOE order to unbundle prices
THE Supreme Court (SC) has denied the plea of oil companies to reinstate the writ of preliminary injunction that the Regional Trial Court (RTC) in Makati City issued in 2019 that stopped the Department of Energy (DOE) from implementing its circular requiring them to “unbundle” or disclose the details of price adjustments with corresponding explanation and supporting documents.
In a 24-page decision written by Associate Justice Ramon Paul Hernando, the Court’s First Division affirmed the October 3, 2022 ruling of the Court of Appeals which reversed and set aside the Makati RTC’s grant of writ of preliminary injunction which the petitioners Philippine Institute of Petroleum, Inc. (PIP), Isla LPG Corporation, PTT Philippines Corporation and Total Philippines prayed for in its petition for declaratory relief which is still pending before the lower court.
The Court agreed with the CA that there was no basis for the trial court to stop the DOE from implementing its Department Circular
2019-05-0008 or the Revised Guidelines for the Monitoring of Prices in the Sale of Petroleum Products by the Downstream Oil Industry.
The said circular was issued by the DOE pursuant to Republic Act 8479 or the Downstream Oil Industry Deregulation Act of 1998.
The oil companies claimed that the circular violated their rights as it is tantamount to price control and contrary to the policy of full deregulation of the downstream oil industry as mandated under RA 8479.
The petitioners also argued that the circular affects their right to a truly competitive market and their right against disclosure of their
trade secrets and privileged or confidential information.
In affirming the CA’s decision, the SC held that the petitioners have “no clear and unmistakable right” that may be protected by a writ of injunction.
It explained that under Section 14 and 15 of RA 8479, the DOE through its secretary is allowed to require the oil companies to submit a detailed report on the petroleum products, in a form the Secretary may prescribe, as part of its mandate to monitor and publish daily international crude oil prices as well as the movement of oil prices.
Not price control
THE Court also dismissed the petitioners’ claim that the circular is tantamount to a price control mechanism.
The circular’s provisions, according to the SC, only requires oil companies to submit a formal notice and report to the Oil Industry Management Bureau (OIMB) any price adjustment, if any, of petroleum products subject of sale and detailed computation.
“As gleaned from the foregoing, it is implausible that these provisions can be construed as forms of price control. They neither mandate, fix, nor set restrictions on the prices for such petroleum products. They simply require oil companies to give notice and submit reports to the DOE, which is authorized under Republic Act 8479,” the SC said.
The Court, likewise, did not
give weight to the arguments of the oil companies that it would be impossible for oil companies and dealers to comply with the notification and reportorial requirements, which expose them to the penalties under DC2019-05-0008; that the DOE is not authorized to inquire into the components of oil prices, specifically on matters that are considered trade secrets.; and that they will lose whatever advantage they have against their competitors if they unbundle their price components.
“We fail to see how compliance with DC2019-05-0008 is impossible. While it may indeed be difficult or tedious for oil companies, surely, there is a way for them to compute and determine the required information based on the existing data or formula available to them,” the Court pointed out.
“We find it hard to believe that the prices these oil companies release are merely made up out of the blue and without any basis at all; verily, there is a systematic calculation or process on how they set their prices, and it is such information that the DOE needs to collect in order for it to accomplish its mandate under Republic Act 8479,” the SC declared.
The SC also found as “unsubstantiated” the argument of the petitioners that the price components enumerated in the circular are trade secrets, which if revealed, will unduly affect their competitive position.
House panel recommends ₧733M for OVP in 2025
By Jovee Marie N. dela Cruz @joveemarie
THE House Committee on Appropriations has unanimously voted to significantly reduce the 2025 budget of the Office of the Vice President (OVP) by moe than half, citing redundancy in social programs and the overextension of offices.
In a news conference, Marikina City Rep. Stella Luz Quimbo, senior committee vice chairperson, said the panel recommended slashing the proposed budget from P2.037 billion to P733 million, a reduction of approximately P1.3 billion.
Quimbo explained that the cuts primarily targeted allocations for financial assistance, professional services (including consultants), utilities, supplies, materials, and rental costs.
However, Quimbo assured that funding for “personal services,” which covers salaries, would remain untouched to preserve jobs within
the OVP.
“We are not touching that; we are preserving jobs in the OVP,” she said.
She added that the entire financial assistance (FA) fund of the OVP of P947 million would be transferred to the AICS (Assistance to Individuals in Crisis Situation) program of the Department of Social Welfare and Development (DSWD) and medical assistance program of the Department of Health (DOH), with the two agencies getting an almost equal share of about P646 million.
Quimbo said that OVP’s FA fund is the source of money for those seeking burial, medical, transportation, and similar aid.
She added that the OVP and beneficiaries of those projects could still access the same funds that would be transferred to the DSWD and DOH by communicating their requests to the two departments.
She stressed that the transfer was necessary owing to a report from the Commission on Audit
(CoA) that found inefficiencies in the utilization of OVP funds, along with redundancies in program implementation.
“The funds will be better utilized by the DSWD and DOH, ensuring they are properly allocated and reach those in need,” Quimbo said.
The lawmaker also addressed concerns over the OVP’s satellite offices. The audit report revealed that the OVP was maintaining 10 satellite offices and two extension offices, which the committee deemed excessive.
Quimbo said they wanted the OVP to revert to its 2022 operational structure, which only included one office.
She revealed that “rental-lease” allocation would be cut from P80 million to P32 million.
WITH confidence in its potential to give huge benefits to the local government and provide additional employment opportunities to Marikina City residents, Mayor Marcelino “Marcy” Teodoro on Wednesday signed the city council resolution approving the development of Armscor Global Defense, Inc. as the Armscor Manufacturing Special Economic Zone.
Armscor is a manufacturer of pistols, rifles and ammunition that are sold locally and exported abroad, particularly in the US under the brand name Rock Island.
Resolution 127 Series of 2024 was sponsored by Councilor Donn Carlo B. Favis and co-sponsored by majority of the council members
including Vice Mayor Marion S. Andres and Councilor Joseph B. Banzon.
Teodoro said that the resolution also endorses the project for Philippine Economic Zone Authority (Peza) registration, positioning it as a manufacturing economic zone.
The mayor noted that Armscor, as a pioneering industry in Marikina City, has created employment opportunities for many residents.
“We recognize the significant benefits and sustainable growth that the ‘Armscor Manufacturing Special Economic Zone’ will bring to Marikina City and its residents, once it is officially designated and registered as a Manufacturing Economic Zone with Peza,” he said.
She said the proposed outlay would still have to go through a long process.
“The proposed budget still has to go through multiple stages, including another round of amendments during plenary sessions, Senate approval, bicameral committee deliberations, and finally, ratification by both the House and Senate before it is submitted for the President’s approval,” she explained.
She added that the President has the power to resort to a lineveto or rejection of proposed appropriations.
“Given the lengthy budget approval process, many stakeholders are involved, and it will be up to the agencies to determine how to utilize the funds allocated by Congress and the President,” Quimbo said, emphasizing that budget execution falls under the purview of the executive branch.
She said the reductions “are just recommendations of the committee on appropriations,” chaired by Ako Bicol Rep. Zaldy Co, and are subject to the approval of the House of Representatives when the chamber starts plenary debates on the proposed 2025 national budget on September 16.
Special economic zone soon to rise in Marikina
“We anticipate that the Armscor Manufacturing Special Economic Zone will not only generate additional income for the local government but also create more employment opportunities for the residents of Marikina City,” the mayor added.
Armscor Global Defense, Inc., doing business as Arms Corporation of the Philippines, is currently developing several parcels of land in barangay Fortune into a manufacturing economic zone project known as Armscor Manufacturing Special Economic Zone with a total land area of 71,655.20 square meters.
Armscor’s senior executive vice president and deputy chief executive officer, Gina Marie G. Angangco, thanked Teodoro and the Marikina City Council for approving the resolution.
“Our dream finally came true. We are so close. We now have the approval of the Sanngunian,” she said. “The next step for this is the Office of the President. We really are very excited,” added.
The resolution stated that it has worked on the submission with the Peza requirements and currently undertaking important activities for the issuance of the certification as a manufacturing economic zone under Republic Act 7916 or the Special Economic Zone Act of 1995. The request was referred to the concerned council committee and after preliminary review and evaluation, the committee found the request in order.
Israeli airstrikes kill 34 Palestinians, target UN school and homes as violence escalates
By Wafaa Shurafa The Associated Press
DEIR AL-BALAH, Gaza Strip— Israeli airstrikes across Gaza overnight and Wednesday hit a UN school sheltering displaced Palestinian families as well as two homes, killing at least 34 people, including 19 women and children, hospital officials said. A UN official said six staffers were among the dead.
The war in Gaza is now into its 11th month, with tens of thousands of people dead, and international efforts to mediate a ceasefire between Israel and the Hamas militant group have repeatedly stalled as they accuse each other of making additional and unacceptable demands.
In the occupied West Bank, Israeli troops launched raids in several towns backed by airstrikes, continuing a crackdown across the territory that the military says is targeting militants but has wrecked neighborhoods and killed civilians. One airstrike killed five people the military said were militants threatening its troops. A second strike on a car killed at
least three people, the Palestinian Health Ministry said.
An attacker crashed a fuel truck into a West Bank bus stop near the Israeli settlement of GIvat Assaf, killing an Israeli soldier, the military said. Officials said soldiers and an armed civilian “neutralized” the attacker.
The strike on the UN’s al-Jaouni Preparatory Boys School in the Nuseirat refugee camp killed at least 14, including two children and a woman, officials from Awda and al-Aqsa Martyrs hospitals said. At least 18 other people were wounded, they said.
The Israeli military said it was targeting Hamas militants planning attacks from inside the
school. The claim could not be independently confirmed.
One of the children killed was the daughter of Momin Selmi, a member of Gaza’s civil defense agency, which rescues wounded and retrieves bodies after strikes, the agency said.
Gaza’s schools are packed with tens of thousands of Palestinians driven from their homes by Israeli offensives and evacuation orders.
The al-Jaouni school, one of many in Gaza run by the UN agency for Palestinians, or UNWRA, has been hit by multiple strikes during the war.
UNRWA said six staffers aiding
the displaced, including the manager of the shelter, were killed.
“Humanitarian staff, premises & operations have been blatantly & unabatedly disregarded since the beginning of the war,” the agency’s director, Philippe Lazzarini, wrote on X.
Israel frequently bombs schools, saying they are being used by Hamas militants. It blames Hamas for civilian casualties from its strikes, saying its fighters base themselves and operate within dense residential neighborhoods.
More than 90 percent of Gaza’s school buildings have been severely or partially damaged in
strikes, and more than half the schools housing displaced people have been hit, according to a survey in July by the Education Cluster, a collection of aid groups led by UNICEF and Save the Children.
Israel’s offensive in Gaza has killed at least 41,084 Palestinians and wounded another 95,029, the territory’s Health Ministry said. The ministry’s count does not differentiate between civilians and militants. Israel launched its campaign vowing to destroy Hamas after the Oct. 7 attack on southern Israel in which militants killed some 1,200 people and abducted 250 others.
Earlier Wednesday, a strike hit a home near the southern Gaza city of Khan Younis, killing 11 people, including six brothers and sisters ranging from 21 months to 21 years old, according to the European Hospital, which received the casualties.
A strike late Tuesday on a home in the urban Jabaliya refugee camp in northern Gaza killed nine people, including six women and children, according to the Health Ministry and the civil defense.
The civil defense said the home belonged to Akram al-Najjar, a professor at the al-Quds Open University, who survived.
The Israeli military said two soldiers died and seven were injured when their helicopter crashed in southern Gaza as they evacuated wounded troops. It said the over -
night crash was not the result of enemy fire and is under investigation. There have been 340 Israeli soldiers killed since the ground operation began in Gaza in late October, at least 50 of whom died in accidents, according to the military.
The West Bank also has seen a surge in violence. Israel has stepped up its military raids there, saying it is working to dismantle militant groups and prevent increasing militant attacks on Israelis. Palestinians say such operations are aimed at cementing Israel’s seemingly open-ended military rule over the territory. At the same time, Jewish settlers have accelerated attacks on Palestinians.
The military on Wednesday said it launched assaults around the West Bank town of Tulkarem and in two northern towns. It said it dismantled an explosives lab, a weapons manufacturing workshop and an explosives-rigged vehicle. The military said an airstrike backing troops operating in the town of Tubas killed five militants. The Palestinian Health Ministry confirmed five were killed but did not specify if they were militants or civilians.
The Red Crescent said three people were killed in a strike on a car in a village outside Tulkarem. The military confirmed it carried out a strike there but had no immediate details.
US and UK pledge $1.5 billion to help Ukraine during diplomats’ visit to Kyiv
By Matthew Lee & Illia Novikov
The Associated Press
KYIV, Ukraine—The United States and Britain pledged nearly $1.5 billion in additional aid to Ukraine on Wednesday during a visit to Kyiv by their top diplomats as Ukrainian officials renewed their pleas to use Western-provided missiles against targets deeper inside Russia.
US Secretary of State Antony
Blinken announced more than $700 million in humanitarian aid, while British Foreign Secretary David Lammy confirmed that his country would provide another $782 million in assistance and loan guarantees. Much of the effort was aimed at bolstering the energy grid that Russia has repeatedly pounded ahead of an expected difficult winter. Blinken and Lammy traveled together to the Ukrainian capital on a rare joint tour to underscore their commitment to the country in its
war. Air-raid sirens sounded repeatedly during the visit, causing delays in their schedule and forcing them to cancel a wreath-laying ceremony.
Blinken said he would bring the discussion with Ukrainian President Volodymyr Zelenskyy about the missiles “back to Washington to brief the president.” Blinken said US President Joe Biden and British Prime Minister Keir Starmer will “no doubt” talk about the issue when they meet Friday in
Washington.
“Speaking for the United States, we have adjusted and adapted as needs have changed, as the battlefield has changed. And I have no doubt that we’ll continue to do that as this evolves,” Blinken told a news conference.
The diplomatic visit unfolded as Russia’s bigger and betterequipped army bears down on Ukraine’s eastern Donetsk region and conducts aerial attacks on cities across the country using mis -
siles, glide bombs and drones that claim many civilian casualties.
Lammy said the 2 1/2-year conflict is at a “critical” juncture following Ukraine’s daring incursion last month into Russia’s Kursk region.
“We convey the deepest condolences for the shocking attacks that we have seen, over the loss of civilian life, particularly women and children—horrific, barbaric, unbelievable,” Lammy said.
But relations between Ukraine and its Western partners have been increasingly strained by Kyiv’s repeated appeals for the West’s authorization to use long-range weapons from the United States and other allies to strike targets deeper inside Russia.
That issue took on added urgency after Russia’s latest reported acquisition of ballistic missiles from Iran, but Western leaders have so far balked at Ukraine’s request, fearing that, if granted, it could escalate the war.
Biden has allowed Ukraine to fire US-provided missiles across the border into Russia in self-defense, but has largely limited the distance they can be fired.
Zelenskyy said he hoped for changes to those limitations.
“Let’s count on some strong decisions, at least,” he said. “For us, it’s very important.”
He said he hoped to speak to Biden later this month, noting that US military and financial support is crucial.
“We rely heavily on it, and frankly, we can’t prevail without it,” Zelenskyy said. However, US Defense Secretary Lloyd Austin last week pushed back on the idea that long-range strikes would be a game-changer.
“I don’t believe one capability is going to be decisive, and I stand by that comment,” Austin said at a meeting of allied military leaders in Germany. The Ukrainians have
other means to strike long-range targets, he added.
Ukrainian Prime Minister Denys Shmyhal told Lammy he hoped an agreement on using long-range assets “for strikes on the territory of our enemy” could be reached.
“We hope for your help and support in this issue.”
A hard winter likely lies ahead for Ukraine. Its power grid is under severe strain after Russian missiles and drones knocked out around 70% of the country’s generation capacity.
Kyiv officials will also have to navigate the outcome of the US election in November, which could produce important policy shifts in Washington. Former President Donald Trump said in a presidential debate Tuesday that he wants the war to end but did not clearly say he wants Ukraine to win.
“We remain committed to Ukraine’s victory,” Blinken said. “The bottom line is this: We want Ukraine to win.”
Ukrainian officials politely sidestepped making any comment on the debate. Zelenskyy said he did not watch it, while Ukraine’s foreign minister, Andrii Sybiha, insisted US policy was ultimately unlikely to change.
“Yes, it’s clear that there will be a new president. But we believe, and are convinced, in the strong support of the American people,” Sybiha said. “We are firmly, firmly convinced that this support will continue.”
The latest American aid package includes $325 million in energy support to help repair and restore Ukraine’s power generation facilities, provide emergency backup power for critical services and strengthen the physical security of energy infrastructure.
The Associated Press writers Jill Lawless in London and Derek Gatopoulos in Kyiv contributed to this report.
Pope Francis commends Singapore’s economic success while urging care for migrant workers
SBy Nicole Winfield The Associated Press
INGAPORE—Pope Francis on Thursday praised Singapore’s economic strength as a testament to human ingenuity but urged the city-state to look after the weakest, too, especially foreign workers, as he opened the final leg of his tour through some of Asia’s poorest countries in one of the world’s richest.
Singapore celebrated his arrival by unveiling a new hybrid orchid named for him, the “Dendrobium His Holiness Pope Francis.” Presented during an official welcome ceremony, the orchid “exudes a serene and pure beauty” of ivory white petals with a pink tinge at the center, according to the National Parks Board.
Francis arrived in Singapore from East Timor and began his official program Thursday by meeting with President Tharman Shanmugaratnam and Prime Minister Lawrence Wong before addressing government authorities and the diplomatic corps at the National University of Singapore.
There, Francis marveled at Singapore’s modern skyscrapers “that seem to rise from the sea” and the government’s commitment to sustainable development and providing public housing and quality education and health care
to its people. But he urged authorities to look out for the poorest and beware of rewarding excellence at all costs, a reference to Singapore’s highly competitive work and educational culture.
“I would like to highlight the risk entailed in focusing solely on pragmatism or placing merit above all things, namely the unintended consequence of justifying the exclusion of those on the margins from benefiting from progress,” he said.
In a common appeal from history’s first Latin American pope, Francis called especially for dignified pay and conditions for migrant workers, who have helped build Singapore into one of the world’s most advanced financial powerhouses.
“These workers contribute a great deal to society and should be guaranteed a fair wage,” Francis said.
Singapore has no minimum wage policy for locals or foreigners. Singapore was the last stop of Francis’ 11-day tour that is the longest and farthest of his papacy after earlier stops in Indonesia, Papua New Guinea and East Timor. The economic disparities were obvious upon arrival Wednesday as Francis landed in Singapore’s high-tech airport aboard the lone aircraft belonging to Aero Dili, the national carrier of East Timor,
where around 42 percent of its people live below the poverty line.
Singapore has long touted as a success story its transformation from a colonial port lacking natural resources into a financial and trade power in just a few decades since independence from Malaysia in 1965. The former British colony enjoys one of the highest living standards in the world, and is known for its safety and low crime rate. But it is also one of the most expensive cities to live in and its competitive work environment makes for a stressful, overworked people.
Francis’ praise for the country’s astonishing economic growth was significant, given he has long been known to bristle at the excesses of capitalism. According to the International Monetary Fund, Singapore’s
gross domestic product per capita of $133,740 was the fourth highest in the world, above the US and other developed countries.
Foreigners account for over a third of Singapore’s workforce. According to official data, the foreign workforce of 1.5 million includes 286,000 domestic workers and 441,000 people in construction, shipping and maintenance jobs, helping to support Singapore’s trade-reliant economy. Many are migrant workers from Pakistan, Bangladesh and other poorer Asian countries.
Human Rights Watch said in a report last year that foreign migrant workers face labor rights abuses and exploitation through exorbitant debts owed to recruitment agents, non-payment of wages, restrictions on movement,
Vietnam death toll climbs to 199 as typhoon’s aftermath brings flash floods and landslides
HBy Hau Dinh & David Rising
The Associated Press
ANOI, Vietnam—Nearly 200 people have died in Vietnam in the aftermath of Typhoon Yagi and 128 are missing as flash floods and landslides take their toll, state media reported Thursday.
Vietnam’s VNExpress newspaper reported that 199 people have died while more than 800 have been injured.
In the capital, floodwaters from the Red River receded slightly but many areas were still inundated with water neck-high in some places.
In Hanoi’s Tay Ho district, people waded through muddy brown water above their knees to make their way along one street, some still wearing their bicycle and motorcycle helmets after abandoning their vehicles along the way.
A few paddled along the road in small boats as empty water bottles, a styrofoam cooler and other flotsam drifted by; one man pushed his motorbike toward drier ground in an aluminum sloop.
Pedestrians hiked up their shorts as high as possible to avoid being soaked by the wake caused by a delivery truck powering its way through the water.
Bakery owner Mai Anh evacuated the area with her family to shelter with her parents, but returned Thursday to check on her shop and found more than two feet (half a meter) of water still inside.
“I can’t do business with the flood like this,” she said. “The goods in my shop are all destroyed.”
The flooding in Hanoi has been reportedly the worst in two decades.
Residents started evacuating the area Tuesday as the flood waters rose, and power and drinking water have been cut since Wednesday.
The floodwaters damaged the doors to Hoang Anh Tu’s home, from which he operates a beer shop. Though he and his family were able to relocate to his parents’ house, they have had to take turns guarding the building.
“It’s very difficult,” he said. “We haven’t even been able to assess the damage because the flood came so fast.”
Yagi was the strongest typhoon to hit the Southeast Asian country in decades. It made landfall Saturday with winds of up to 149 kph (92 mph). Despite weakening on Sunday, downpours continued and rivers remain dangerously high.
The death toll spiked earlier in the week as a flash flood swept away the
New Thai Prime Minister Paetongtarn vows to address economic challenges, continues predecessor’s policies
By Jintamas Saksornchai
The Associated Press
Thursday in her inaugural speech to Parliament to continue many of her predecessor’s plans to solve the country’s economic woes. Paetongtarn, the leader of the ruling Pheu Thai Party and daughter of former Prime Minister Thaksin Shinawatra, took office last month after a
Srettha after members of the conservative Senate refused to endorse the prime minister nominated by the progressive Move Forward Party, which won the most seats in last year’s general election. Thailand is facing several economic challenges and Paetongtarn said Thursday her government will urgently address the issues of high household debt, the rising cost of living and lagging incomes “to bring the hope of Thai people back as soon as possible.”
Among the government’s more immediate plans are measures to relieve household debt and reduce the rising cost of electricity, petrol and transport, as well as to boost tourism and bring new technologies to the agricultural sector, she said.
Paetongtarn said the government will generate
entire hamlet of Lang Nu in northern Vietnam’s Lao Cai province Tuesday.
Hundreds of rescue personnel worked tirelessly Wednesday to search for survivors, but as of Thursday morning 53 villagers remained missing, VNExpress reported, while seven more bodies were found, bringing the death toll there to 42. Floods and landslides have caused most of the deaths, many of which have come in the northwestern Lao Cai province, bordering China, where Lang Nu is located. Lao Cai province is also home to the popular trekking destination of Sapa.
On Monday, a bridge collapsed and a bus was swept away by flooding, killing dozens of people.
The steel bridge in Phu Tho province over the engorged Red River collapsed, sending 10 cars and trucks along with two motorbikes into the river. The bus carrying 20 people was swept into a flooded stream by a landslide in mountainous Cao Bang province.
Experts say storms like Typhoon Yagi are getting stronger due to climate change, as warmer ocean waters provide more energy to fuel them, leading to higher winds and heavier rainfall.
Rising reported from Bangkok.
new income by legalizing and taxing the “informal economy” and the “underground economy.” Although she provided no details, it was an apparent reference to plans to legalize casinos, which are being promoted as “entertainment complexes” that can attract revenue windfalls. The draft of the law, sponsored by the Finance Ministry, says a casino would be allowed to operate within a complex that also houses other businesses such as a hotel, a convention hall, a mall or a theme park. Access to casinos will be restricted to those younger than 20 years old. They will be open for foreigners, while Thai citizens must pay 5,000 baht ($148) for an entrance fee, according to the draft. She said the government will protect small businesses from unfair competition from foreign operators, especially on online platforms. Industry groups in Thailand have expressed increasing concern about an influx of cheap products from China that they say have hurt sales by domestic producers.
confiscation of passports, and sometimes physical and sexual violence. It said domestic workers are excluded from many key labor protections, such as limits on daily work hours, sick leave and annual leave.
Francis is visiting Singapore to encourage its Catholics, who make up about 3.5 percent of the population of just under 6 million, while highlighting Singapore’s tradition of interfaith coexistence.
According to a 2020 census, Buddhists make up about 31 percent of the population, Christians 19 percent and Muslims 15 percent, while about a fifth of the population claimed no religious belief whatsoever.
In his remarks to the pope, President Shanmugaratnam highlighted Singapore’s commitment to environmental sustainability and interfaith harmony, saying both were the result of hard work and dedication over decades.
“We are a multiracial, multireligious, and multicultural society,” he said. “For us, solidarity and harmony have therefore been at the core, and will remain core features in our national development.”
He praised Francis’ consistent call to care for God’s creation, saying Singapore too had made sustainability a priority ever since independence nearly six decades ago. Singapore’s greening plan
through 2030 envisages greater reliance on solar energy, waste reduction and imposition of carbon taxes to transition to a lowcarbon economy.
“As a small city-state, we have sought to balance development with environmental responsibility,” he said. Francis said Singapore’s environmental policies were a model for the rest of the world, calling it “a shining example of what humanity can achieve by working together in harmony, with a sense of responsibility and a spirit of inclusiveness and fraternity.”
Francis celebrates Mass later Thursday in Singapore’s national stadium and will preside over an interfaith youth event Friday morning before returning to Rome.
Dozens of people came out to greet him Thursday morning as he arrived at Parliament House for the official welcome ceremony, cheering as his motorcade passed by.
“We just wanted to make sure that we caught his attention, and that we really communicated our love and warm welcome to him here in Singapore,” said Lissy Puno, who made posters and bracelets to commemorate the visit.
AP writer Eileen Ng contributed from Kuala Lumpur, Malaysia.
US inflation hits 3-year low, paving way for Fed rate cut
By Christopher Rugaber Ap Economics Writer
WASHINGTON—The post-pandemic spike in US inflation eased further last month as year-over-year price increases reached a threeyear low, clearing the way for the
Federal Reserve to cut interest rates and likely shaping the economic debate in the final weeks of the presidential race. Wednesday’s report from the Labor Department showed that consumer prices rose 2.5 percent in August from a year earlier, down from 2.9 percent in July. It was
the fifth straight annual drop and the smallest since February 2021. From July to August, prices rose just 0.2 percent.
Excluding volatile food and energy costs, so-called core prices rose 3.2 percent in August from a year ago, the same as in July. On a month-to-month basis, core prices
rose 0.3 percent, a slight pickup from July’s 0.2 percent increase. Economists closely watch core prices, which typically provide a better read of future inflation trends.
“Today’s report will add to confidence within the Fed that inflation is indeed on a sustainable path towards 2 percent,” the Fed’s target level, Carl Weinberg, chief economist at High Frequency Economics, wrote in a note to clients.
For months, cooling inflation has provided gradual relief to America’s consumers, who were stung by the price surges that erupted three years ago, particularly for food, gas, rent and other necessities. Inflation peaked in mid-2022 at 9.1 percent, the highest rate in four decades.
And Americans’ paychecks have risen steadily for the past three years. Overall incomes have even outpaced inflation for roughly the past 18 months, helping more households handle elevated prices.
On Tuesday, the Census Bureau reported that the median inflation-adjusted household income rose 4 percent last year to above $80,000, essentially matching the 2019 peak.
Wednesday’s inflation figures followed a presidential debate Tuesday night in which former President Donald Trump attacked Vice President Kamala Harris for the price spikes that began a few months after the Biden-Harris administration took office, when global supply chains seized up and caused severe shortages of parts and labor.
During the debate, Trump falsely characterized the scope of the inflation surge when he claimed, “They had the highest inflation perhaps in the history of our country.” In 1980, inflation reached 14.6 percent—much higher than the 2022 peak.
A key reason for last month’s drop in overall inflation was the third drop in gas prices in the past four months: Average gas prices fell 0.6 percent from July to August and are down 10.6 percent from a year ago. And used cars fell 1 percent last month. Measured from a year earlier, used car prices have tumbled 10.4 percent.
Grocery prices were unchanged from July to August, extending a cool-down in food costs even though they remain much higher than they were three years ago. Over the past year, grocery prices have ticked up just 0.9 percent,
similar to the pace of pre-pandemic food inflation.
Still, many Americans are taking steps to try to stretch their budgets. Kelsey Aubrey, who lives in North Palm Beach, Florida, and was shopping at the discount grocer Aldi on Tuesday, said she typically visits up to four or five stores in her search for the lowest grocery prices.
“We hop from store to store, trying to save where we can,” she said. “Our bills are still pretty high. And we’re working a ton to pay the bills.”
The tick-up in core inflation from July to August reflected acceleration in housing costs and some spikes in the prices of airfares and hotel rooms, which are likely to prove temporary.
Airline fares jumped 3.9 percent just from July to August after having dropped the previous five months. Hotel room prices climbed 1.8 percent last month; they had fallen in two of the previous three months.
Fed officials, who are watching housing costs closely, expect them to cool more consistently. According to the real estate brokerage Redfin, the median rent for a new lease rose just 0.9 percent in August from a year earlier, to $1,645 a month. But the government’s measure includes all rents, including those for people who have been in their apartments for years. It takes time for the slowdown in new rents to show up in the government’s data. Last month, rental costs rose 5.2 percent from a year ago, according to the government’s consumer price index.
The Fed’s policymakers have signaled that they’re increasingly confident that inflation is falling back to their 2 percent target and are now shifting their focus to supporting the job market, which is steadily cooling. As a result, they are poised to begin cutting their
benchmark interest rate next week from its 23-year high in hopes of bolstering growth and hiring.
A modest quarter-point cut is widely expected. The pickup in core inflation makes it unlikely that the Fed would consider cutting its key rate by a larger-thanusual half-point next week, as some Wall Street traders had hoped. Stock prices slid as a result, with the broad S&P 500 index falling about 1.6 percent in midmorning trading.
Still, over time, a series of Fed rate cuts should reduce the cost of borrowing across the economy, including for mortgages, auto loans and credit cards.
During the presidential campaign, Harris has proposed subsidies for homebuyers and builders in an effort to ease housing costs. She also backs a federal ban on price gouging for groceries. Trump has said he would boost energy production to try to reduce overall inflation.
A number of trends suggest that inflation will keep slowing. Those signs include a drop in oil prices to roughly $67 a barrel early Wednesday, down from a high of $80 last month.
Americans’ paychecks are also growing more slowly—an average of about 3.5 percent annually, still a solid pace—which reduces inflationary pressures. Two years ago, wage growth was topping 5 percent, a level that can force businesses to sharply raise prices to cover their higher labor costs.
In a high-profile speech last month, Fed Chair Jerome Powell noted that inflation was coming under control and suggested that the job market was unlikely to be a source of inflationary pressure.
The Associated Press Video Journalist Cody Jackson contributed to this report from North Palm Beach, Florida.
US companies see record-low profits in China amid geopolitical tensions and slow growth, report says
HONG KONG—American companies in China are seeing record-low profits, with business confidence at an alltime low amid US-China tensions and a slowing Chinese economy, according to a report published Thursday by a US business group.
Out of 306 companies polled, a record-low 66 percent were profitable in 2023, according to the China business report published by the American Chamber of Commerce in Shanghai.
The report also found that only 47 percent of respondents were optimistic about their business outlook in China over the next five years, the lowest in the survey’s history of more than two decades.
Beijing and Washington have been at odds in recent years over issues like trade and manufacturing, as well as China’s claims over the South China Sea.
China is also grappling with a slowing domestic economy, with lackluster consumer demand and
deflationary pressures persisting even post-Covid.
The geopolitical tensions between both countries were the top challenge to businesses’ operations in China, the report found.
“It’s a balance between risk and reward,” said Eric Zheng, president of AmCham Shanghai, during a news conference ahead of the report’s publication.
“The perceived risks of doing business in China have gone up in the past few years, but at the same time the market is slowing down, with soft demand and overcapacity,” he said.
Many businesses are now redirecting investments to other regions such as Vietnam, Malaysia and South Asia, Zheng said.
A record high of 25 percent of companies polled cut investment in China in 2023, AmCham’s report found, largely driven by concerns over China’s slowing growth.
While just over half of US companies expect their revenue to
increase over last year, only 37 percent are expecting growth in China to outpace global growth in the coming three to five years. The AmCham report came a day after the European Union Chamber of Commerce in China published a report with similar sentiments on the increasing risks of doing business in China. The report highlighted a lack of implementation on promised reforms and an increasingly politicized business environment.
The European Chamber’s report found that for some European companies, the risks of investing in China were beginning to outweigh the returns.
“We are concerned about there being a tipping point now, and therefore we have a call for action to the Chinese government to turn the tide,” said Jens Eskelund, the European Chamber’s president, at a news conference on Wednesday.
“China is becoming no longer a top priority but increasingly a top
SHOPPERS pause in the produce section at a Walmart Superstore in Secaucus, New Jersey on July 11, 2024. AP/EDUARDO MUNOZ ALVAREZ
Guo to Comelec: I’m Filipino
DISMISSED Bamban, Tarlac
mayor Alice Guo insisted her mayoral candidacy’s validity in a counteraffidavit filed before the Commission on Elections on Thursday.
Guo said that she fully complied with the citizenship and residency requirement under Section 39 of the Local Government Code.
“In relation to the above cited provision, it must be stressed that I am a holder of a Philippine Birth Certificate under the name Alice Leal Guo. With due respect, unless otherwise declared to be invalid, said birth certificate is deemed valid and regular on its face,” the dismissed official wrote.
Guo also included sworn testimonies from four residents of Bamban, Tarlac to prove that she has been
living in the province for 35 years and two months already.
The complaint against Guo originated from Comelec’s factfinding investigation that her mayoral candidacy might have breached Section 74 in conjunction with Section 262 of the Omnibus Election Code.
Under Section 74 of the code, a candidate must use their baptized name or, if not baptized, the name registered with the local civil registrar, unless they have legally changed their name through a courtapproved procedure.
Comelec earlier said initial findings showed inconsistencies between Guo’s certificate of candidacy from the May 2022 polls and a document from the National Bureau of Investigation.
E-gaming could draw ₧20B, but regulation lapses noted
Continued from A18
“Actually, because of the ban on POGO, one aspect remains unclear. That’s the special class BPO. These are like BPO but its clients are gaming companies outside the Philippines. So there are, for example, graphic design, customer service, marketing. So they provide these services to the gaming companies outside of the Philippines,” he said.
These special BPOs do not take bets, as they are simply service providers. Their status needs to be clarified in the Pogo ban, he added.
Gatchalian was responding to concerns that as the total ban, set to be finalized on December 31,
approaches, there might be initiatives to transform Pogos into other business models.
To obviate that, the senator said they will push through with legislating the ban, to bolster the executive order. A ban on Pogos, and another law to repeal the earlier pandemicera law taxing Pogos, would ensure that whoever is the administration, the ban on Pogos is “institutionalized,” he added.
Cannibalization of land-based casinos
MEANWHILE , Tengco admitted that the e-gaming industry will take away revenues of land-based casinos and integrated resorts. This, after Gatchalian posed the
The latter document had the exmayor’s fingerprints filed under the name of a certain Guo Hua Ping.
Guo asked Comelec to drop the charges, arguing that the commission’s findings were “unwarranted” and “unmerited” because she had not been given an opportunity to verify the results.
“I was not given the chance to check, verify, and validate if there was no room for alteration and manipulation in the said examination and documentation,” Guo said.
Comelec Chairman George Garcia welcomed the dismissed mayor’s last-minute submission.
“Filing the counter affidavit is a recognition of the exercise of jurisdiction of the Comelec. Now , we can terminate the preliminary investigation and proceed to the resolution of the controversy,” Garcia told reporters.
Justine Xyrah Garcia
question of cannibalization from brick-and-mortar casinos to e-gaming activities.
Integrated resorts would have to spend for infrastructure and a bigger workforce as well as meet Pagcor’s requirement of $1 billion in private investments to be granted a license to operate.
Tengco assured that integrated resorts will not be replaced by the emergence of e-gaming but should rather ride the wave.
“Diyan na po patungo yung industriya ng gaming at wala na pong recourse kundi sumabay na rin ang integrated resorts [This is where the gaming industry is headed and there is no recourse for integrated resorts but to join],” Tengco said.
The Pagcor chief said people do not just gamble but would also want to experience hotel hospitality, such as dining and entertainment.
DOJ to ask court to revive Ortega slay case vs Reyes
TBy Joel R. San Juan @jrsanjuan1573
HE Department of Justice
(DOJ) on Thursday said it would ask the Regional Trial Court of Quezon City to revive the murder case filed against former Palawan Gov. Joel Reyes in connection with the killing of environmentalist and broadcaster Gerardo “Gerry” Ortega in 2011.
The murder case against Reyes has been archived by the court after he went into hiding following the Supreme Court’s decision in 2023 ordering his re-arrest and detention.
The Presidential Task Force on Media Security (PTFoMs) announced on Wednesday that Reyes has surrendered to the National Bureau of Investigation-National Capital Region (NBI-NCR).
In its 2023 decision, the Court denied Reyes’s petition to reverse and set aside the amended decision issued by the Court of Appeals in November 2019 and resolution in February 2021 which set aside its 2018 ruling dismissing the murder case.
The SC also directed the RTC Branch 52 in Puerto Princesa City, Palawan to also continue “with utmost dispatch” the proceedings on Reyes’s case.
“The case has been archived for several years. Now that he has been apprehended, the NBI will be bringing him before the court where the case is pending. Prosecutors will ask to have the case revived, taken out of archives and have it scheduled for arraignment and pre-trial,” Fadullon said.
Ortega was gunned down on January 24, 2011 in Puerto Princesa City
Biz group to DENR: EPR law must cover hazardous waste
Continued from A18
Section. 44-A National Framework for Extended Responsibility. Unless otherwise provided under Article 2 of this Chapter, within 3 months following the effectivity of the Extended Producer Responsibility Act of 2022, the DENR, in consultation with the NSWMC shall formulate a national framework on EPR for all types of product waste. According to Arranza, the DENR is mandated to come up with an IRR
that will operationalize the EPR on ULABs, as well.
“Simply put, we are calling on the DENR to strictly enforce the proper collection and recycling of ULABs by making sure entities engaged in the production, importation, and sale of brand new lead acid batteries will not be able to market their products in the country unless they have satisfactorily proven that they have collected their ULABs and channeled them to accredited recyclers,” he said.
after the airing of his radio program “Ramatak”. He was considered an “environmental hero” by many people and concerned groups in Palawan. Marlon Recamata, the gunman, was arrested and pleaded guilty to murder in February 2011. Reyes was tagged by a former bodyguard, Rodolfo Edrad, as the mastermind behind the killing of Ortega, who had criticized the former governor for the alleged destruction of the environment in the province.
Aside from the Ortega murder case, Reyes is also facing graft charges before the SandiganBayan for alleged misuse of the Malampaya funds during his term. Also implicated in the killing is his brother, former Coron Mayor Mario Reyes Jr.
He said that for these state-ofthe-art recyclers to thrive, they would need the support of the government to ensure the ULABs do not end up in the hands of fly-by-night recyclers that are operating shabby and unregulated facilities
“As much as possible, we are pushing for 1 to 1. This means that, as an example, an entity that managed to collect 1,000 ULABs should be allowed to sell 1,000 brand-new batteries, as well,” he said. The FPI, he added, is open to a phased implementation beginning at 20 percent in the first year, 50 percent in the second year, and 80 percent in the third year,” he added.
Enhancing PHL’s innovation future through strategic R&D investment
THE recent statements by Ria Liza Canlas of the National Innovation Council shed light on the Philippines’ commendable innovation output juxtaposed with its challenges in quality of life enhancement. While the country has demonstrated remarkable resourcefulness, its progress remains constrained by limited resources, particularly in critical areas such as research and development (R&D). (Read the BusinessMirror story: “PHL’s innovation output rising, yet progress lags,” September 11, 2024).
The country’s fifth-place ranking in the 2022 Global Innovation Index underscores its potential for innovation. However, the glaring gaps in R&D investment compared to regional counterparts like Vietnam and Thailand reveal a pressing need for strategic action. With only 0.3 percent of GDP allocated to R&D, the Philippines falls short of its peers, inhibiting its capacity for sustained innovation and growth.
The Philippines only has 173.6 researchers per million people, compared to 756.7 in Vietnam and a remarkable 2,069.9 in Thailand. Similarly, the country spends just 0.3 percent of GDP on R&D, while Vietnam invests 0.4 percent and Thailand a robust 1.3 percent. In the area of utility patents, a measure of practical innovation, the Philippines scores 1.7, lagging Thailand’s 2.7.
These gaps are troubling, as investment in R&D and innovation is vital for long-term economic growth and improvement in living standards. The Philippines has demonstrated an impressive ability to “do more with less” when it comes to innovation, but this resourcefulness can only take the country so far. Meaningful progress will require substantial, sustained increases in funding and resources dedicated to research, development, and commercialization of new technologies.
Canlas rightly emphasizes the importance of aligning national strategies with the goals outlined in Republic Act 11293, The Philippine Innovation Act, to drive inclusive progress and enhance the competitiveness of micro, small, and medium enterprises. The establishment of a P1-billion innovation fund and the forthcoming extension of funding to MSMEs in 2025 signify positive steps towards fostering a more innovation-friendly ecosystem.
To achieve the target of improving its global innovation ranking to 34th by 2032, the Philippines must prioritize substantial increases in R&D investment. This necessitates a concerted effort from the government to allocate greater resources towards research, technology development, and innovation initiatives. By enhancing funding mechanisms, streamlining regulatory frameworks, and promoting collaboration between industry and academia, the country can accelerate its innovation agenda and drive sustainable growth.
Moreover, enhancing our innovation ecosystem requires a holistic approach that integrates education and human capital development. By aligning education programs with industry needs and promoting a culture of lifelong learning and innovation, the Philippines can nurture a skilled workforce capable of driving technological advancements and economic prosperity. Looking ahead, it would do well for the country to prioritize investment in research and development. By placing innovation at the forefront of its agenda, recognizing its pivotal role in fueling economic growth and social progress, the Philippines can unleash its vast potential and pave the way for a brighter, more equitable future for all Filipinos.
BusinessMirror
Our trajectory towards a stabilized Earth or a hothouse
Earth
TIrish Joy A. Yparraguirre
EAGLE WATCH
HE theories of our early physicists have had a significant impact on today’s world. The discovery of the vital force, how it should be harnessed, the construction of thermodynamic rules, and the discovery of atoms have all contributed to the growth and fate of the Earth. For example, Rudolph Clausius’s concept of entropy suggests that the entire cosmos must be approaching its maximum temperature, and there is nothing we can do to halt it. Eunice Foote’s research and conclusion supported the idea that a carbon dioxide-rich atmosphere would cause our planet to heat up.
The Earth system’s paths began with the Ice Age, followed by the Holocene, and currently in the Anthropocene. The Holocene was a generally warm period with a stable landscape appropriate for civilization, but increased human activity has pushed the Earth into the Anthropocene. It is a proposed new epoch in Earth’s history where the Earth system is already unbalanced and will grow even more unstable in the future, unless critical environmental issues are solved. As a result, the Earth has been headed toward a maximum temperature that is harmful to humanity. Furthermore, it is currently estimated that four of the nine planetary boundaries have surpassed
T. Anthony C. Cabangon
Lourdes M. Fernandez
Jennifer A. Ng Vittorio V. Vitug
Lorenzo M. Lomibao Jr., Gerard S. Ramos
Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso
Ruben M. Cruz Jr.
Eduardo A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon
Benjamin V. Ramos Aldwin Maralit Tolosa
Rolando M. Manangan
BusinessMirror is published daily by the Philippine Business Daily Mirror
Unlocking
their limitations, including the two important ones of climatic stability and biosphere integrity. The Earth is rapidly warming, as demonstrated by an increase in global temperatures.
The Intergovernmental Panel on Climate Change (IPCC) estimates temperature rises based on a variety of scenarios for the future growth of anthropogenic forces. The scenarios show greenhouse gas emissions at various amounts, ranging from extremely low (1 degree) to extremely high (8.5 degrees). According to IPCC projections for 2100, global temperatures might rise by up to 5 degrees Celsius. In 2022, the average land and ocean surface temperature was 0.86 degrees Celsius.
The Earth has been experiencing crises related to economic inequality, climate change, and environmental destruction. It is now heading toward a maximum temperature that is detrimental to humanity. But somehow, there are steps we can undertake to lessen its adverse impact. There is still hope for the continuity of the planet, only if the world is willing to work. The goal of net zero emissions is necessary to get the Earth moving, but it takes a systematic effort to attain it.
The current atmospheric concentration of carbon dioxide is 398.5 parts per million (ppm), which exceeds the planetary threshold of 350 ppm. The continued use of fossil fuels appears to be a key contribution to the rapid warming of the world, which could reach 5 degrees Celsius.
Aside from greenhouse gas emissions, tipping points can induce temperature increases, potentially leading the system to lose control. These tipping points are linked like a series of dominoes, and tipping one, two, or three can accelerate some of the most catastrophic effects of climate change. Its effects are typically severe, irreversible, and occur at varying rates. The interruption of the South Asian/Indian summer monsoon is an
example of a circulation tipping point. We may be able to create a condition known as the “Stabilized Earth” if we can truly restrict warming to 1.5 to 2 degrees Celsius and start restoring the biosphere. This does not occur naturally in the Earth system. We must appropriately handle ourselves and the system. However, we are on a separate path that will lead us to a cliff for a waterfall or the tipping cascade. It can take us to the fourth-degree state known as “Hothouse Earth.” It is said that we are at an important point where we must consider our course of action. There is a need to arrest the tipping points before we can lose control of our system. The world is faced by a dilemma to get net zero by 2035 or 2040, or even by 2050. The IPCC assessment, as well as the Kyoto Protocol, had no effect until now. There is a high probability that the Earth will lead to the second trajectory, the “Hothouse Earth,” if the world continues to increase its greenhouse gas emissions. There is an annual exponential growth of 1.65 percent in the observed total carbon dioxide emissions from fossil fuels and land use change. If carbon emissions are not decreased, the Earth’s temperature will continue to increase. Carbon dioxide emissions should be lowered down, and biosphere integrity must be maintained.
The Earth has been experiencing
See “Eagle Watch,” A17
devt potential: The significance of South-South Cooperation in Asia-Pacific for sustainable progress
By Jong-Jin Kim
SouTH-SouTH Cooperation (SSC) has increasingly been recognized as one of the most efficient and effective means of exchanging technical know-how and experiences between countries of Asia and the Pacific.
Unlike the traditional “donor country—beneficiary country” relationships, South-South Cooperation is more like a collaboration between countries and has significantly evolved as a proven method for one country in Asia and the Pacific to learn from another that has overcome similar developmental challenges in its own recent history. Indeed, the United Nations and other multilateral development partners have increased their focus on SSC as an important complementary modality to bridge the technological gap in support of sustainable development and eradicating poverty, inequalities and, most notably, hunger.
SSC is underpinned by several principles that make it a highly desirable form of technical cooperation. These include Mutual respect for each other’s territorial integrity and sovereignty; Mutual non-aggression; Mutual non-interference; Equality and mutual benefit; and Peaceful co-existence.
The Food and Agriculture Organization of the United Nations (FAO) recognizes SSC as based on solidarity among partner countries for mutual benefits, whereby FAO plays a catalytic role in facilitating cooperation among countries and institutions that have proven development solutions to share with countries in need
It is important to emphasize the fact that SSC is not a replacement for North-South cooperation, which is highly significant and beneficial in and of itself, but rather complementary in its approaches. The main difference is SSC provides know-how, training, and knowledge exchange, rather than providing development assistance in the form of monetary grants. In any case, both are important.
of such solutions. Given its competitive advantage, FAO has provided a framework for such cooperation, reflecting its international experience in SSC initiatives, particularly to help drive an agrifood systems transformation for the benefit of all people in the Asia-Pacific region, and worldwide.
SSC is a partnership—not a replacement for financial development assistance I T is important to emphasize the fact that SSC is not a replacement for North-South cooperation, which is highly significant and beneficial in and of itself, but rather complementary in its approaches. The main difference is SSC provides know-how, training, and knowledge exchange, rather than providing development assistance in the form of monetary grants. In any case, both are important. The Asia-Pacific region is home to some of the world’s most cuttingedge technologies that have significantly contributed to poverty alleviation and reducing hunger. However, at the same time, the region is home to the world’s largest concentration of extremely poor and malnourished people. This anomaly is also reflected in the technologies among different See “Unlocking,” A17
Ambassador Antonio L. Cabangon Chua
New Thai PM’s reform agenda lacks specifics, economists say
By Suttinee Yuvejwattana
ThailaNd’S new prime minister has a roadmap to deal with the most pressing issues ranging from a near-record household debt to a tepid growth rate and an aging society. But the plan is short on details that would ensure time-bound outcomes, according to economists.
Paetongtarn Shinawatra, who was sworn into office last week, outlined her government’s top 10 priorities at a joint sitting of the parliament on Thursday. The blueprint includes steps to tackle the more than 16 trillion baht ($476 billion) of household debt, modernize the country’s farm sector, overhaul the energy and utility procurement terms to lower costs of living as among the priorities. She also highlighted the need for an urgent economic stimulus for the poor. Under Thai laws, a new government can begin its work only after making a policy statement before the parliament, with the blueprint serving as a framework for governance during its tenure. As the broad strokes of Paetongtarn’s plans were already out, the public and financial markets are keenly awaiting finer details including implementation timelines from ministers when they respond to questions from lawmakers through Friday.
In the case of the sweeping debt restructuring, the government hasn’t provided many details besides naming key beneficiaries such as home and auto loan borrowers, and small businesses and identifying the institutions to implement them.
“These are steps in the right direction, but it will boil down to details and policy execution,” said Krystal Tan, an economist at Australia & New Zealand Banking Group Ltd., referring to Paetongtarn’s blueprint. “A stable political climate and political will to carry out the required reforms will be critical to improving the economy’s long term growth prospects.”
With Paetongtarn’s rise to the top job coming in the wake of her predecessor’s ouster and the dissolution of the nation’s largest opposition party, political stability is seen as key to the new government’s ability to follow through with its pledges. The third member of Shinawatra clan to lead Thailand is already facing a barrage of legal petitions seeking her ouster, stoking concerns of fresh political uncertainty.
Paetongtarn’s immediate priority will be to take steps to sustain a post-pandemic economic recovery that has lagged the pace of neighbors like Indonesia, Philippines and Malaysia. The recovery is hindered by structural issues that have hurt the country’s manufacturing and exports and a chronic indebtedness among its 20 million households.
The new government is also set to announce this week a cash handout of about 145 billion baht to an
The Peñafrancia
TUnder Thai laws, a new government can begin its work only after making a policy statement before the parliament, with the blueprint serving as a framework for governance during its tenure. As the broad strokes of Paetongtarn’s plans were already out, the public and financial markets are keenly awaiting finer details including implementation timelines from ministers when they respond to questions from lawmakers through Friday.
estimated 14.5 million people classified as economically vulnerable and those with disabilities. The stimulus pales in comparison to former premier Srettha Thavisin’s pledge to give away 10,000 baht each to about 50 million adult Thais at an estimated cost of $14 billion.
A scaled down stimulus can free up funds that the government can use to assist small businesses and pursue other projects, according to Kirida Bhaopichitr, an economist at the Thailand Development Research Institute.
“I’m concerned about the government’s focus on cash handouts and debt moratoriums, rather than measures that improve the business climate and create jobs. The government’s costly giveaways will spur growth for only a quarter or two, and risk creating adverse incentives. I’d prefer to see an emphasis on reforms that reduce the need for handouts in the first place and on upskilling the labor force and creating better jobs—measures that would stoke growth for years,” said Bloomberg economist Tamara Mast Henderson.
While Paetongtarn is set to continue most of the policy initiatives introduced by Srettha, it also borrows heavily from an economic roadmap presented by her father, Thaksin Shinawatra, last month.
As Thailand’s youngest prime minister starts her term, she will need to reassure foreign investors that she can provide a stable administration, eschew any clashes with the central bank, and drive policies to sustain the economic recovery.
“The government very well know all the problems facing the country. The more important thing is to spell out how they will address them,” said Kirida. “We have seen mainly shortterm measures. What we now want to see is how they plan to do over the medium and long term.” Bloomberg
crises related to economic inequality, climate change, and environmental destruction. It is now heading toward a maximum temperature that is detrimental to humanity. But somehow, there are steps we can undertake to lessen its adverse impact. There is still hope for the continuity of the planet, only if the world is willing to work. The goal of net zero emis-
countries in the region. Some have developed highly sophisticated technologies across value chains, while others are struggling with very basic and primitive technologies in the same region. Less developed countries have historically been more in-
sions is necessary to get the Earth moving, but it takes a systematic effort to attain it. There is only one planet where we can live. The future of the next generations lies in our hands today. Let’s make the Earth a livable place for the next hundred years.
Ms. Irish Joy A. Yparraguirre is a graduate student at the Department of Economics of Ateneo de Manila University. She is a faculty member of the Department of Social Sciences, North Eastern Mindanao State University in Tandag City.
terested in learning from countries that had faced similar challenges not long ago.
Given this developed/underdeveloped mix of countries, the SSC approach is a logical neighbor-toneighbor initiative in Asia and the Pacific. But given that the region has accumulated a rich and diverse set of experiences in strategies and policies related to rural poverty, agricultural
devotion: From the peripheries to the center
Tito Genova Valiente annoTaTions
Part one
he 13th of September, 2024 is a Friday. For the Bikolano or, at least, those who hold on to certain beliefs about the number “trece,” hold no fear because at the heart of that day is the devotion to Virgin Mary that is not only seen as a local fiesta for the city of Naga but a celebration of faith in the region.
At the center of this devotion is a tiny image with the height of 42 cm, excluding its crown and base. The dimension of that icon is crucial because while it is tiny by comparison to other major Marian statues, the festivities around it have become massive, the rituals observed are majestic and monumental. No one would believe that this devotion began from the margin.
On September 6, 2024, noted historian and respected academic, Dr. Filomeno V. Aguilar, spoke on the Peñafrancia and, through thorough archival research and keen analysis of documents, answered what has remained disputed for a long time: how did the devotion to this image of Virgin Mother evolve into what it is now? More importantly in terms of popular devotion is also the question how did this icon become a symbol of a region instead of being an image regal but ensconced—limited—in her shrine, the observance of its feast clearly demarcated within a limited geographic space.
There have been conjectures already by local historians about the uniqueness of this devotion, the most common of which was the widespread theory that the image is the only one of its kind that was carved because the remontados (basically, those who were not covered by the colonial administration or office) wanted one that was close to what they believe in. This belief
is accompanied by certain claims that images, Marian or non-Marian, had always been produced through church patronage.
In the lecture of Aguilar, however, new insights surfaced. It traced the
skirts. Aguilar also emphasized how there was no religious order to back it up. Miguel Robles de Covarrubias, the seminarian who was studying at the Universidad de Santo Tomás, in whom the propagation of the devotion is attributed, is reintroduced as someone with the humanity and imperfection that makes his final project on the Peñafrancia even more credible. While he had always been written as an arduous founder of the shrine, he himself was not exactly focused on his plans. He had plans to leave Nueva Caceres. And yet certain afflictions brought him back to Nueva Caceres and to his original plan, to build a shrine for the Virgin. This, among many other factors, painted the area of what is now Naga and, by extension, the Bicol region, was not a choice assignment.
There was no local elite to support the devotion so much so that when
beginning of the devotion, linking the origin that fused history and hagiography.
What was apparent from the start of the devotion was that the belief in the Lady of Peñafrancia had a peculiar beginning. Its small “shrine” (for lack of a better word) was at the out-
Bishop Gainza was assigned to Nueva Caceres, he came upon a shrine that was not kept well. He could not find local informants to provide him data about the devotion.
The next question that Aguilar propounded was how did it come about that the icon was moved from
Canada doubts idea of ‘Asian Nato’
By Soo-Hyang Choi
CaNadiaN defense Minister Bill Blair cast doubt on the idea of an “asian Nato,” saying that any US-led military alliance in the region would look different due to the diverse strategic interests there.
“I think there’s different elements of strategic competition taking place in the Indo-Pacific,” Blair said in an interview with Bloomberg News in Seoul late Wednesday. “It may take a different form than what we see in Nato.”
Blair is visiting Seoul and Tokyo this week, becoming the first Canadian defense minister in more than a decade to travel to South Korea.
He highlighted China’s growing assertiveness in the region in what he called “the most rapid military buildup” of any nation in decades to “reshape the international system to suit its own goals.”
Touching also on the US presidential election and Ukraine, Blair said he expected America’s support for Kyiv to continue no matter who will be in the White House next year.
The US and its Asian allies, Japan and South Korea, have been stepping up their cooperation as Washington pushes to clip China’s efforts to increase its military and economic might. Beijing has bristled at the moves, calling them an
development, prices, trade and institutional development, it can and does share its know-how with countries in other parts of the world. Other counties within and outside the region are quite keen to know such recipes for success, adopt and adapt them, and build on successful experiences. Ultimately, SSC allows countries, not only to understand the results of successful experiences and effective
The US and its Asian allies, Japan and South Korea, have been stepping up their cooperation as Washington pushes to clip China’s efforts to increase its military and economic might. Beijing has bristled at the moves, calling them an attempt to sow discord among the Asian neighbors.
attempt to sow discord among the Asian neighbors.
“I think what we’re seeing is the emergence of a lattice of security arrangements and cooperation, information sharing. I think there is value in that,” Blair said.
The idea of a North Atlantic Treaty Organization-like collective security arrangement in Asia was raised this week by Shigeru Ishiba, a frontrunner in the race to become Japan’s next prime minister. Ishiba, a former defense minister, said such a pact would provide better deterrence against regional threats and highlighted the role of Nato in deterring Russian aggression in Europe.
technical know-how, but also the processes and mechanisms involved in their development, implementation and institutionalization.
that shrine by the river to the Cathedral? There was not much reason cited for this practice except that, because of the distance of the “shrine” and the absence of a priest assigned to it, something was happening in the place of the Virgin. The archive, in this regard, yielded an observation of Bishop Gainza about certain bad practices in that place. What are these “practices”? The closest one could conclude from these words was how, in the absence of a clergy to administer, the remontados and the other believers had started to infuse rituals that were not Christian but more related to their preSpanish ceremonials, i.e. animistic traditions. Using the novena, which involved seven days in the center and two days in the original shrine, the colonial administration was able to affect not only control but also continuous evangelization.
The fiesta, one might say, began as a novena. And the celebration is now having this impact not so much because the population wanted a long duration but because religion and its ritual warranted such time. The move was literally the beginning of a devotion that was peripheral now gloriously dominating the center, said presence manifesting its scale, reach, and power.
On February 11, 2024, Thursday, I was invited by the Odiamar family through their daughter, Trixie, to witness the vesting of the Lady of the Virgin of Peñafrancia. The Odiamars were the donor of this year’s manto or cape to be worn during the Traslacion, the transfer of the Ina or Mother from her home by the river to the cathedral. Unlike in the past where there were no principalias to fund the upkeep of the icon, that night saw the local elites behind the crowns, capes and other adornments of this tiny icon, who is lauded as the Celestial Queen of the Region. The many banners proudly declare: Se siempre la Reina.
More of the Lady of the Penafrancia next week.
E-mail: titovaliente@yahoo.com
amid diverging interests
China and North Korea occasionally accuse the US of trying to build an Asian version of Nato, but security analysts say such a deal is unlikely because the region is more diverse politically and economically than Europe and North America.
While views on the threat from Russia are largely uniform among Nato members, ties to China vary widely around Asia and sometimes shift when administrations change in individual countries.
Asian countries also have a deep undercurrent of distrust from legacies of past wars.
Turning to the US election, the Canadian minister played down the significance of comments made by candidates in the run-up to the vote.
On Tuesday, former President Donald Trump twice declined to say if he wants Ukraine to win the war against Russia, instead telling the night’s debate with Vice President Kamala Harris that he wanted the fighting to end.
“A lot of things get said in a political campaign, but they don’t necessarily turn into future government policy,” Blair said. “The United States commitment to peace and security around the world, it’s been enduring for a very long time.”
His remarks echoed those of Admiral Rob Bauer, the chair of NATO’s military committee, who said it was
While the middle-income countries in Asia and the Pacific have accumulated significant experiences and technical know-how in their own agrifood systems, some may not have access to the required financial means to facilitate the exchange with other countries. In this regard, FAO has been approaching other development partners to participate in envisaged technical cooperation. This is referred to as South-South and Triangular Cooperation, where a third party provides financial resources to facilitate the exchange.
unlikely the US would stop supporting Ukraine.
The race for the White House remains tight ahead of the Nov. 5 election and the two candidates differ significantly on a solution to the conflict in Ukraine, currently well into its third year.
While President Joe Biden and Harris have pledged to back Kyiv for as long as needed, Trump has repeatedly raised doubts over US commitments to Nato. Russian President Vladimir Putin, meanwhile, has given little indication that he’s ready to negotiate, except on his own terms. Canada is among a minority of Nato members that do not meet the alliance’s requirement of spending 2 percent of gross domestic product on defense. Prime Minister Justin Trudeau promised in July that Canada would hit the target by 2032, but provided few details of how it would get there.
Blair said Canada would need to acquire “big things” to achieve that goal. The country is in the market for up to 12 submarines, which will cost billions.
“We’ve got some significant new investments to make in people and in platforms and equipment for our Canadian Armed Forces,” he said. “We know we’ve got to do more and we’re going to do more.” With assistance from Alastair Gale /Bloomberg
At the end of the day—or more to the point at the end of this decade— there is much work to be done to meet the Sustainable Development Goals. On 12 September’s International Day for South-South Cooperation, let’s remember that SSC and NorthSouth assistance can both help this region—and the world—achieve those goals.
E-gaming could draw ₧20B, but regulation lapses noted
By Reine Juvierre Alberto @reine_alberto & Butch Fernandez @butchfBM
THE government stands to gain up to P20 billion in tax collections from the rise of the electronic gaming (e-games) industry, according to the Department of Finance (DOF).
In the Senate hearing of the Committee on Ways and Means on Thursday, Assistant Secretary Karlo F. Adriano said tax collections from e-gaming could be around P15 billion to P20 billion in 2024.
The Bureau of Internal Revenue (BIR) has collected P10.7 billion in franchise tax and gross income tax, among others, from the e-gaming industry from January to July 2024.
Preliminary data from the BIR showed tax collections from e-games rose by 56.47 percent to P13.3 billion in 2023 from the P8.5 billion raised in 2022. About P2.7 billion was racked up in 2021, significantly higher by 214.81 percent year-on-year.
The Philippine Amusement and
Gaming Corporation (Pagcor) is mandated to remit the 5 percent franchise tax it collected from its licensees to the BIR. In 2024, the BIR received P3.65 billion as a 5-percent franchise tax and P285.20 million for corporate income tax paid by Pagcor.
Meron nang kapalit ang Pogo [Philippine Offshore Gaming Operations]. Kahit wala na yung Pogo, pinalitan naman ng e-games,” said Sen. Sherwin Gatchalian, the chairperson of the Committee on Ways and Means.
Pagcor Chairman and Chief Executive Officer Alejandro H. Tengco said the sunrise industry is projected to become a P250-billion business, al -
though his figures are unofficial yet.
“This new trend of e-games is a reality that we're not only seeing in the Philippines but in the world,” Tengco added.
Despite the rise of e-games, Tengco said the gray market has to be regulated properly to generate revenues for Pagcor, which it gives back to the government for nation-building.
Gatchalian: Tighter regulation
I N a news conference later, Gatchalian expressed confidence that revenue losses to Pagcor and the BIR from the total, permanent ban on Pogos, can be more than filled up by the steadily rising state income from e-gaming. He agreed with Tengco’s point, however, that regulators must keep closer track of the sector—given Tengco’s concern about revenue leaks, and Gatchalian’s warning about loose rules enabling money laundering, among other crimes.
Gatchalian, the chairman of the Senate Ways and Means Committee noted the surge in e-gaming revenue in his news conference.
“It’s growing. From Pagcor alone, it is P22 billion. For BIR it is almost P12 billion,” the senator said, recalling that “three years ago, that amount
was unheard of. Pagcor was only P6 billion. BIR was P2 billion. So, the revenue derived from what we call e-gaming is growing.”
Gatchalian conceded there are still big “lapses in regulation” in egaming. “For example, it’s so easy to open an account for e-gaming. Even if you give a fake name, as we’ve seen in the last hearing; you can also give a fake age. You’re 16 but you can say you’re 21.”
Speaking partly in Filipino, he added: “And because you can give a fake name, you can also get involved in money laundering. You can use your drug profits and pretend they’re winnings from gaming. So we’ve seen the regulatory weaknesses here in e-gaming. The police say they get minimal reports on crimes in e-gaming. So we’re looking at that. But the mere fact that there is a weakness in regulatory, that situation might worsen in the future.”
Besides e-gaming, they are also looking at the special class of BPOs in ecozones, which are seeking exemption from the Pogo ban.
Continued on A15
THE national government and the Asian Development Bank (ADB) launched the $12.4-billion six-year Country Partnership Strategy (CPS) aimed to advance the country's development agenda.
President Ferdinand R. Marcos Jr. said on Thursday the multiyear funding commitment reflects the multilateral's vote of confidence in the country's growth potential, which the government must take advantage of.
The ADB’s proposed lending program for 2024 to 2027 is composed of 28 new programs and project loans amounting to $12.4 billion, averaging $4.13 billion per year.
The strategy priorities will focus on strengthening human development, boosting economic competitiveness and quality infrastructure, and scaling up nature-based development and disaster resilience.
The new country strategy, titled “Building Strong Foundations for a Prosperous, Inclusive, and Climate-Resilient Future,” targets to achieve sustained, inclusive growth above 6 percent annually by building strong foundations for a prosperous and resilient future while advancing digital transformation, governance and gender equality.
The National Economic Development Authority (Neda) said in a separate statement that the projects to be supported under the partnership are the Bataan-Cavite Interlink Bridge and the North-South Commuter Railway.
“These flagship infrastructure projects will improve travel convenience, strengthen regional integration, and stimulate economic growth throughout the Greater Manila Bay area,” it said.
Moreover, priority investments include enhancing access to quality education, healthcare services and social assistance programs, particularly for marginalized and low-income communities to safeguard the vulnerable population against economic shocks.
Marcos Jr. said the new CPS for 2024 to 2029 is about turning lofty goals into tangible improvements in the daily lives of Filipinos, such as renewable energy, climate solutions and private sector support for innovation.
“Your contributions have turned hope into reality and made a profound difference in countless lives here in the Philippines. For that, we are very grateful,” Marcos Jr. added. The CPS was approved by the ADB Board of Directors on September 4, 2024. It embodies the multilateral institution’s strategic blueprint in support of the Philippines’ development agenda for the next six years. ADB has a total net commitment of $8.84 billion, comprising 26 official development assistance (ODA) loans and 23 ODA grants to the Philippines, as the country's leading multilateral development partner and the second-largest source of ODA.
Biz group
TBy Jonathan L. Mayuga @jonlmayuga
HE Federation of Philippine Industries (FPI) on Thursday urged Department of Environment and Natural Resources (DENR) Secretary Maria Antonia Yulo-Loyzaga to implement the Extended Producer Responsibility scheme on used lead acid batteries (ULABs) and other hazardous waste.
Dr. Jesus Aranza, FPI Chairman said the implementation of EPR is long overdue. He said it should include ULABs and other hazardous waste, as mandated by the EPR Act of 2022 or Republic Act 11898.
The DENR should have issued a Department Administrative Order (DAO) for the purpose a month after the signing into law of the EPR, he added.
However, the DENR’s implementation of the EPR is focused on the waste recovery of plastics by big companies with over P100 million in capital or investment, particularly
single-use plastic. This should not be the case, according to Aranza, as he noted that the concept of EPR is particularly important to ULABs because recycling hazardous waste requires advanced technical know-how and state-ofthe-art facilities that only accredited private recyclers may have.
According to the FPI, with around 14 million registered vehicles, the market for car batteries is huge, which is why illegal smelters and ULAB recyclers are thriving, affecting the operation of those with legitimate business permits and regular taxpayers.
Compared to ordinary waste types like plastics, currently covered by the EPR rules, “ULABs should be treated with more urgency because of their immediate harmful effects on the environment and the people,” Arranza said.
Aranza said a DAO implementing the EPR for ULAB will help regulate and prevent the illegal recycling of used lead acid batteries.
A DENR DAO will further regulate the entities engaged in the
tion, importation, and sale of
acid batteries, he said, with the end view of promoting proper recovery and recycling of ULAB that are considered hazardous waste, consistent with laws such as Republic Act 6969 or Toxic Substances and Hazardous and Nuclear Waste Control act of
Reine Juvierre
Editor: Jennifer A. Ng
B1 Friday, September 13, 2024
Higher transmission charge benefited gencos—NGCP
By Lenie Lectura @llectura
The National Grid Corporation of the Philippines (NGCP) on Thursday said it does not earn from the upward adjustment in transmission charge this month as the ancillary services (AS), which is a component of transmission charge, is a pass-through cost that benefited the power generation companies (gencos).
Electricity rates this month rose by P0.15 per kilowatt-hour (kWh) mainly because of a spike in the transmission charge due to NGCP’s AS, which rose after commercial operations of the reserve market resumed last August 5. Transmission charge is made up of AS and wheeling rates. AS are support services used to balance and stabilize the grid during power supply-demand imbalance. Wheel-
ing charges, meanwhile, refer to the fees imposed for the use of NGCP’s transmission facilities for the delivery of electricity.
“NGCP did not benefit from the increase in prices. The AS cost is a pass-through cost, and generating companies benefitted from this increase.”
For the September bills of the Manila Electric Co. (Meralco), there was a reduction in transmission wheel-
ing rates but AS charges rose owing to the resumption of the AS Reserve Market (AS-RM).
Transmission wheeling rates have gone down by 5.5 percent, from P0.5038/kilowatt-hour (kWh) in July 2024 to P0.4761/kwh in August 2024.
AS rates for the August 2024 billing period went up by 125.92 percent, with P0.6127/kWh compared to P0.2712/kwh in July 2024. This cost pertains to the AS sourced from the AS-RM, which resumed last August 5, and does not include the settlement of the remaining 70 percent AS cost for the March 2024 billing period.
Last May 9, the Energy Regulatory Commission (ERC) ordered the partial lifting of the suspension on settlement amounts in the AS-RM and approved the 30-percent partial
settlement for March 2024 billing period to mask the spike in AS charge.
“NGCP clarifies that while consumers may notice an increase in transmission charges, this is a result of the resumption of the AS Reserve Market.
In compliance with directives from the Department of Energy and ERC, NGCP contracts 50 percent of its AS requirement from firm agreements and 50 percent from the AS Reserve Market,” the company said.
NGCP is a privately owned corporation in charge of operating, maintaining, and developing the country’s state-owned power grid, an interconnected system that transmits gigawatts of power at thousands of volts from where it is made to where it is needed.
for
‘Breach of AllCard deal with BSP now with COA’
By Cai U. Ordinario @caiordinario
THE Philippine Statistics Au-
thority (PSA) clarified that any contract violations between the Bangko Sentral ng Pilipinas (BSP) and AllCard Inc. (ACI) has already been “deferred” to the Commission on Audit (COA).
In a statement the PSA issued last Thursday, the agency echoed the statement of the BSP stating that the central bank has complied with Agency-to-Agency Procurement Guidelines under Republic Act 9184 on the printing of the National IDs.
“As the primary stakeholders in the ongoing implementation of our National ID system, we affirm our alignment with the BSP’s commitment to transparency, accountability, and compliance with our procurement laws,” the PSA said.
The PSA noted that the COA cited their May 2023 audit report finding that subcontracting is not allowed under the Memorandum of Agreement (MOA) between the PSA and the BSP for the printing of the National ID cards.
In its recent statement, the central bank warned that subcontracting issues aside, the ACI failed to meet its deliverables in the National ID project.
The BSP stressed it “did not subcontract the activity” to the ACI. The central bank said it provided the personnel for the National ID production while the ACI provided the equipment, raw materials and technical support.
Banking&Finance Tax collection efficiency seen from PHL entry in MAAC pact
The BSP also stressed that it fully complied with the Agency-to-Agency Procurement Guidelines and its agreement with the PSA regarding the printing of National IDs.
The BSP said the matter is currently under arbitration following ACI’s filing of a case in January, which also restricted both entities from making public statements on certain issues under arbitration.
“The ongoing issue with ACI, concerning its failure to meet contractual obligations is now under arbitration. This independent proceeding serves as the proper venue to resolve all issues raised by ACI, and the BSP shall abide by the decision of the arbitration committee,” read a statement the BSP issued last Thursday.
“Considering the ongoing arbitration, the BSP will refrain from making further public statements on specific matters pertaining to the proceedings,” it added.
Meanwhile, the ACI earlier said it has filed a motion for reconsideration urging the BSP to revisit its termination decision.
According to the company, it is prepared to clear the National ID backlog within the next 12 months once the BSP reverses its recent decision to terminate its contract.
In the statement, the ACI asserted that it is capable of meeting its deadline and that “unforeseen challenges” disrupted its ability to meet its deadline. The company didn’t say what these challenges were and its ability were “disrupted.”
BPI starts learning plan for employees’ growth
THE Bank of the Philippine Islands (BPI) announced it launched a learning program as it aims “to foster a stronger culture of learning and growth among its employees, solidifying its position as an employer of choice.”
“Demonstrating its consistent investment in employee learning and development,” the BPI said it recently introduced the program’s physical and digital platforms. These facilities “are designed to improve employees’ access to cuttingedge training tools and resources,” with the training center equipped with combined 14 learning rooms, learning pods, and meeting rooms as dedicated areas for employee growth and skill development, a statement from the lender read.
“In BPI, nothing makes us happier than seeing our employees building a productive, long-lasting career in the company. This is why we continuously strive to Do More by investing in our employees’ career development through the BPI University,” BPI Chief Human Resources Officer Maria Virginia O. Eala was quoted in the statement as saying.
Learning academies
THE lender said its training center, located on the 20th and 21st floors of BPI Buendia Center, features 14 learning rooms, pods, and meeting rooms with state-ofthe-art facilities. According to the lender, the program, called “BPI University,” has three learning academies, each offering structured learning programs to effectively promote a strong culture of learning.
First is the “Functional Academy,” which includes a set of programs designed to help employees develop and strengthen specific functional and technical competencies to enable them to perform their roles effectively.
Second is the “Leadership Academy,” which offers a range of courses and programs aimed at enabling incumbent managers to lead, inspire, and motivate their team members and the broader organization in line with BPI’s core values. It likewise offers Officership Training Programs for seasoned staff employees and promising fresh graduates.
Third is the “Future Tech Academy,” which features a series of programs focused on developing in-demand capabilities essential for future-proofing the organization.
The BPI added it also has a group of employees who have interest in training their colleagues. The members of this group, according to the lender, also provides “additional learning pathway by facilitating the exchange of expertise and best practices among employees in various areas relevant to their role.”
As of June 2024, BPI has 21,438 employees. Of these, over 16,000 have already completed at least one learning activity, ranging from mandatory courses to leadership and technical programs.
“The participation rate reflects BPI’s commitment to continuous professional development and fostering a culture of learning within the organization,” the lender’s statement read.
“The ‘BPI University’ will keep evolving to meet the demands of the changing times. When employees can clearly see opportunities for personal and professional growth, they feel more satisfied in their roles and are more likely to stay with the organization,” Eala added. “Improving our employees’ skills and training translates to quality service and contributes to the community, and ‘BPI University’ makes this vision a reality for Unibankers.”
MBy Reine Juvierre Alberto
ANILA’S ratification of the Convention on Mutual Administrative Assistance in Tax Matters (MAAC) is expected to enhance tax administration and combat evasion through data exchange and international cooperation.
“To fund our people’s growing needs, we need more tools like this to enhance our revenue-generating capacity,” Finance Secretary Ralph G. Recto said through a statement issued after Senators approved the participation of the Philippines in the MAAC.
Recto anticipates Manila’s entry into the pact, via Senate Resolution
Asia
S139, will improve tax administration in the country as it would allow the government access to data exchange, assessment and enforcement tools with over a hundred partner signatories.
“This [participation in the MAAC] is definitely a crucial weapon in our arsenal to fight tax evasion that ultimately denies every Filipino’s right
funds unite to help
EVERAL regional private equity firms have banded together to establish a Vietnamese alliance, aiming to facilitate $35 billion of investment into the Southeast Asian country over the next decade.
The newly-established Vietnam Private Capital Agency, founded by five partners from funds including Golden Gate Ventures, Do Ventures and Monk’s Hill Ventures, will organize seminars, support private equity firms and both lobby and work with the government on policy. Its goal is to facilitate investment in sectors from agriculture to education and health care, said Vinnie Lauria, a
to have the quality public goods and services they deserve,” the chief of the Department of Finance (DOF) added.
Developed jointly by the Organization for Economic Co-operation and Development (OECD) and the Council of Europe, the MAAC is a comprehensive “Multilateral Instrument” or treaty for administrative cooperation between signatories in tax assessment and collection. Participating in the pact will enable the Philippines to enter into agreements on simultaneous tax examinations and exchanges of information (EOI).
As such, the Bureau of Internal Revenue (BIR) is expected to benefit from third-party information to enhance its “Run After Tax Evaders,” or Rate, program.
With the MAAC in place, the DOF said the Philippine government can access tax information of other
board member for the agency. It’s unclear how the association arrived at its investment projection, which is several times higher than Vietnam’s tech sector attracts annually, at present. But many investors tout the country’s potential at a time US-China tensions are prompting businesses to relocate factories and target new markets for growth. Vietnam’s digital economy is expected to surpass $90 billion in 2030 from $30 billion last year, according to a joint report from Google, Temasek Holdings Pte and Bain & Co. “Vietnam is a hot market,” said Lauria, a Golden Gate founding part-
Unexpected Apple tax payment ‘exciting’ for Ireland–PM Harris
RISH Prime Minister Simon
IHarris said his country has “exciting opportunities” as it considers how to spend an almost €14 billion ($15.4 billion) windfall it will receive as a result of Apple Inc. losing a European court fight over its tax bill.
“This is a situation where we do have finality, we will have about 14 billion and there are exciting opportunities as to how we can invest that in the infrastructure for future generation,” he said Thursday on RTE radio.
On Tuesday, the European Union’s Court of Justice in Luxembourg backed a landmark 2016 decision that Ireland broke state-aid laws by giving the company tax benefits that resulted in an unfair advantage.
The Irish government has always maintained that it didn’t think Apple owed these taxes and denied having given the tech giant any preferential treatment, but the money involved has been sitting in escrow since the initial 2016 ruling.
Ireland is now in the enviable position of having a windfall to spend that is the equivalent of 14% of government spending this year, or some €2,700 for every man, woman and child in the country.
“I don’t want to get into specific projects because I do want government to make a considered and informed decision on this. But there is an opportunity here,” said Harris.
The money will take a few
months to be transferred to the Irish exchequer, said Harris, adding that he isn’t aware of any other claims to it.
Ireland is grappling with a housing crisis caused by a shortage in supply, along with other infrastructure issues. “When it comes to things like housing, water and energy, there are real constraints in this country and we need to invest in them,” said Harris.
The Apple funds won’t be part of the upcoming budget, he added. “It cannot be spent on day to day, for example you can’t put it in the state pension,” he said. “You only get this money once.”
The funds have been accruing interest since the bill was paid by Apple into the escrow account. The Irish government said in July the total value of the fund stands at €13.8 billion, after generating €400 million in 2023.
The Irish government has come in for criticism from opposition parties that it had sided with Apple and fought the court case.
“Any responsible government would stand by the independence of its tax system and its revenue system,” Harris said in defending the stance. “Six thousand people in Ireland are employed by Apple today. Hundreds of thousands of people are going to work in multinational companies the length and breath of this country. And actually standing by multinationals and tax policy is an important thing.” Bloomberg News
jurisdictions, decrease the risk of a downgrade on the country’s tax transparency and save time, financial, and human resources on treaty negotiations.
The MAAC includes safeguards to protect the confidentiality of information exchanged between tax authorities to uphold taxpayers’ right to privacy and ensure the integrity of the cooperation, according to the DOF.
“With the ratification of the MAAC, we empower our country to fight deceptive tax avoidance methods. Those who use complex strategies to evade their tax responsibilities will no longer be able to escape,” Senate Committee on Foreign Relations Chairman Sen. Imee Marcos said.
With its entry into the MAAC, the Philippines joins a global network of 147 signatory countries, more than a hundred of which have ratified the treaty.
funnel $35B to Vietnam
ner. “The motivation to establish the VPCA stemmed from key developments in Vietnam, including rising wages and GDP, increasing FDI, export growth post-Covid, government innovation programs, and rapid infrastructure development.”
The industry association hopes to broaden its membership to 100 individuals by the end of next year, from more than 40 now. Existing member firms also include Vertex Ventures, Ascend Vietnam Ventures and Mekong Capital.
Vietnam’s startup scene has exploded in past years, driven by the rise of firms such as games devel-
oper VNG Corp. But as with much of Southeast Asia, the country’s tech sector has struggled to raise capital since a post-Covid economic downturn.
In 2021, Vietnam drew a record $2.6 billion through 233 private deals, up from $700 million via 140 deals a year prior, according to the Google report. But total capital invested in Vietnamese tech startups last year plunged 17 percent to $529 million, placing it third among Southeast Asian countries, according to a separate report from Do Ventures and the Vietnam National Innovation Center. Bloomberg News
Associations and the Spartans
IGREW up watching action movies and TV series about the Spartans and was fascinated by their inspiring traits as a people.
The Spartans were a prominent ancient Greek warrior society that emerged in the city state of Sparta, located on the Peloponnesian Peninsula in southern Greece. They were known for their military prowess, disciplined lifestyle, and adherence to a strict code of conduct. They played a significant role in Greek history, particularly during the classical period from the 4th- to the 6th-century BC.
What are the key attributes of the Spartans and what can association leaders learn from them? Here are five I’ve picked up from my brief research:
1. Discipline. The Spartans were renowned for their unparalleled discipline, both in their military training and in their daily lives. Association leaders can emulate this trait by instilling a culture of discipline within their organizations and by establishing clear expectations, enforcing accountability, and promoting a work ethic that prioritizes commitment and consistency.
2. Leadership by example. Spartan leaders were always on the forefront and also actively participated in training and battles alongside their warriors. Association leaders can mirror this act by adopting a leadership style that leads by example such as engaging actively in the organization’s activities, demonstrating a strong work ethic, and embodying the values and principles that define the association.
3. Unity and teamwork. Spartans have placed a significant emphasis on unity and teamwork, recognizing the strength that comes from a cohesive group. Association leaders can foster a sense of unity among members by promoting collaboration, communication, and a shared vision, as well as encouraging a team-oriented culture that values collective suc -
cess over individual achievements.
4. Resilience and adaptability. The Spartans were known for their resilience, facing adversity with determination and discipline. Association leaders can follow this trait by promoting resilience within their teams, encouraging a mindset that views challenges as opportunities for growth, and emphasizing the importance of adaptability in navigating an ever-changing business environment.
5. Strategic thinking. Spartans were skilled in strategic thinking, both in military campaigns and in their overall approach to governance. Association leaders can adopt a strategic mindset by engaging in thoughtful planning, anticipating future trends, and making informed decisions, as well as developing a strategic vision for the organization and guiding their team and its members toward achieving their longterm objectives.
By incorporating these attributes into their leadership approach, association leaders can create a dynamic and disciplined organizational culture that fosters teamwork, resilience, and strategic thinking. These Spartan-inspired traits can contribute to the growth, adaptability, and overall success of modern associations. Are you a Spartan association leader?
Octavio Peralta
This undated photo courtesy of the Bank of the Philippine islands shows the executives with
(fourth from left): (left to right)
Relationships BusinessMirror
Why is Ramon Ang praying a lot these days?
BILLIONAIRE tycoon Ramon S. Ang was in an uncharacteristically exuberant mood on Monday, when he attended the Economic Journalists Association of the Philippines (EJAP)-San Miguel Corp.’s inaugural Aviation Forum. He discussed his plans for the Ninoy Aquino International Airport (NAIA), gabbed with Transportation Secretary Jaime “Jimmy” Bautista and leaders in the local airline industry, as well as gamely answered questions from us nosy biz journos (and traded jokes with us, too!).
He kept saying, rather loudly, even if he wasn’t onstage, “Ipagdadasal ko nalang sila [I will just pray for them],” when we asked his executive, Angelito Alvarez, general manager of the New Naia Infrastructure Corp. (NNIC) in an open forum, how the latter could control the corrupt government personnel at the airport, giving the Philippines a bad name. Then again, RSA made the same remark to our table, fully cognizant there were certain quarters operating at the Naia, who might try to challenge his plans there. “Well, that’s the only thing I can say if they want to disrupt our plans,” he said in Filipino. And, boy, do they have a lot of those in store, which he and GM Lito promise will enhance the travel experience for all. Improvements that will be immediately felt by passengers in the first three to 12 months, for example, include new toilets and refurbishment of existing ones; additional seating capacity at the passenger terminals; installation of new airconditioning units and refurbishment of existing units; reliable high-speed Internet; additional backup generators and UPS units; repair of walkalators, escalators, and elevators, to name a few. There will be terminal reassignments, too, but local carriers, while overall supportive of NNIC’s plans, want to discuss this further.
RSA said it hurt, that Naia has always been tagged as “one of the worst airports in the world,” so he claimed that even if he won’t earn much from rehabilitating and operating the country’s main gateway, “it’s a public service.” When he worked up their bid for the project, RSA said he told his people to “make it so that even if we don’t earn, at least we
won’t lose much,” which his people thought was counterintuitive. And with an offer of 82.16 percent in revenue share to the government, RSA beat out all the competitors which had offered much, much lower revenue shares.
The more difficult part, of course, is changing the culture of corruption at the Naia, for which RSA’s prayers are greatly appreciated. And I suppose that’s why Sec. Jimmy has a wider smile than usual these days, as he looks forward to NNIC as it takes over the airport starting September 14. There were just constant “assassination” on the character of Sec. Jimmy and that of his trusted lieutenants, as they tried to dismantle syndicates at Naia, and overturned illicit agreements between former airport executives and some private companies.
I managed to have a quick tête-à-tête with RSA, as we discussed Boracay Island, where he has some interest, as his Trans Aire Development Holdings Corp. is currently upgrading the Caticlan Airport. He also has some property on Caticlan and on Boracay, which can be developed into resorts, but since he doesn’t have the expertise in that area, “I will have to look for partners.”
He expressed strong feelings about building a 1.2-kilometer bridge that will connect Caticlan to Boracay. Personally, I’ve always thought there is a certain charm in traveling by pump boat to the island.
What happens to the boatmen and their livelihood if that bridge is built?
But RSA challenged me: “We should take a survey. I think you’ll get 90 percent in favor of a bridge and 10 percent from those who oppose it.” He added that “the former boatmen will be the ones to operate the electric bus,” that will ferry tourists from Caticlan to Boracay via his proposed bridge. (Actually, sir, the Boracay Foundation Inc. and the Aklan government have opposed the bridge.)
He asserted that with the bridge, garbage will be easily transported off the island, and “eliminate the algae” which still blooms in its waters off the main white beach, despite the supposed rehabilitation undertaken by the Duterte-era Boracay Inter-Agency Task Force. “So it’s really better if that bridge will be built and we can transfer the garbage out of there daily. That will make Boracay more attractive.” Decongesting the island of its workers, RSA stressed, will even ensure its current carrying capacity of 19,215 tourists per day, at any given time, will not be exceeded. “The employees on Boracay can transfer [and live on] the mainland,” while tourists can stay in Caticlan and just visit the island for the beach.
As I wrapped up our little chit-chat, in deference to the speaker onstage, RSA ended: “I don’t need to
SEE “ANG,” B5
CCIP plants 500 trees for more sustainable future
THE Chamber of Cosmetics Industry of the Philippines (CCIP), a leading organization representing the personal care and cosmetics industry in the Philippines, held a tree-planting initiative, titled Rooted in Beauty, Committed to the Future, at Mount Purro, Antipolo Rizal.
This event marks a significant milestone in CCIP’s 50th anniversary goal of planting 500 trees, a target they successfully surpassed with the enthusiastic participation of their member companies. A total of 98
member companies’ representatives were present in the active tree-planting event.
Popular local clean beauty brands like Ever Bilena Cosmetics, Ellana Cosmetics, and Pili Ani were among the prominent participants.
Well-known personal care companies, like Biogenic Alcohol, Splash Wipro, Personal Collection, and Bevi Manufacturing Inc. also joined the initiative. Leaders in the manufacturing industry such as DJM Corp., Connell Caldic, Bestpak, and
Zizmore, among many others, lent their support as well. CCIP vice president for CSR, Linda Yu of Amchem, expressed hope that this activity would inspire a new generation to advocate for sustainability and environmental protection. “These 500 tree seedlings are just the beginning,” Yu said. “We foresee a new era where various companies in the industry join hands to create a better world for the future.” Ever Bilena, a CCIP member company, echoed this sentiment. Denice Sy, Ever
Bilena’s chief sales and marketing officer, revealed the company’s aspiration to become a net-zero company. “This year, we are on track to achieve our recovery and plastic footprint offset goal of 40 percent,” Sy shared.
Planting trees is a powerful act with significant environmental benefits. Trees not only beautify surroundings but also play a crucial role in combating climate change by absorbing carbon dioxide, a major greenhouse gas.
By Eugenia Last
acting prematurely or making promises you cannot fulfill. Consider what is possible and what will contribute to something you aspire to achieve. Be open to suggestions, but don’t back yourself into a corner. ★★★ VIRGO (Aug. 23-Sept. 22): Invest in what makes you happy. Stop denying yourself the opportunity to explore the possibilities. Put your energy where it counts and offers you peace of mind and reassurance that you can move forward. Adjust, compromise and make your dreams come true. Don’t get angry; get moving.
LIBRA (Sept. 23-Oct. 22): Don’t jeopardize your health, emotional well-being or domestic situation. It’s essential to give yourself enough breathing room to figure out what’s best for you and how to make the most of what you have. A chance to experience or learn something new will help you gain clarity. ★★
SCORPIO (Oct. 23-Nov. 21): You are in a better position than you realize. Consider your long-term plan and contact someone to help you reach your objective. Pay attention to detail but add innovative ideas that will motivate others to get involved in helping you achieve your goal.
SAGITTARIUS (Nov. 22-Dec. 21): Only share your plans with someone you trust. Focus on something you enjoy doing, or sign up to participate in a challenge that stimulates you. Explore the possibility of spending more time with someone who enjoys the same pastimes. ★★★
CAPRICORN (Dec. 22-Jan. 19): RCount your pennies and review your investments. Reviewing your assets will give you the confidence to make changes to improve your life. Start the process, ease stress and engage in activities and pastimes that encourage better physical health and emotional well-being. ★★★
AQUARIUS (Jan. 20-Feb. 18): PPut more time, money and effort into being your best. A new look, educational pursuit or better money management will pay off. Look at your surroundings and adjust whatever is necessary to accommodate what you want to pursue. Home improvement and joint ventures will encourage success. ★★★
PISCES (Feb. 19-March 20): Don’t go overboard, even if someone tempts you. Indulgent behavior or overspending will leave you in a vulnerable position. Put your energy into something that offers
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Kate’s soft-focus Insta-ready video marks a shift in how royals tell their story
Kokoy De Santos is Ultimate Runner of ‘Running Man Philippines Season 2’
FROM “Boy Kabado” to “Boy Panalo,” Kokoy De Santos had successfully faced his fears and claimed victory as the “Ultimate Runner” of GMA Network’s toprating reality game show Running Man Philippines Season 2. After a series of exciting games and mind-blowing missions with epic guest superstars, Kokoy won the final race, beating the rest of the runners—Mikael Daez, Glaiza de Castro, Lexi Gonzales, Buboy Villar, Angel Guardian, and Miguel Tanfelix. The finale weekend was made even more special and thrilling after they reunited with Season 1 runner Ruru Madrid.
It was not a walk in the park for Kokoy, as the whole cast showed competitiveness and smart tactics against each other throughout the season.
During one of the final missions, Kokoy had to overcome his fear of heights and rappel down an 11-meter lookout tower. To everyone’s surprise, he was able to finish in second place, following Ruru as the fastest runner to complete the heart-stopping challenge.
This time, Kokoy became more determined to win in the climax of the season—the iconic Name Tag Race. Kokoy, Glaiza, Ruru, Lexi and Miguel received multiple name tags based on their rankings from previous missions.
But after everyone gave out their strongest energy and creative strategies, the Name Tag Race went down to just Kokoy and Buboy. In the end, Kokoy and Buboy were able to rip each other’s tags. But Kokoy had still one left, thus, making him the season’s ultimate runner.
In an Instagram post, Kokoy expressed gratitude to his supporters and co-runners: Maraming salamat sa inyong lahat na nagtiwala sa akin na kaya ko. Noong simula pa lang, may mga bagay na tumatakbo sa utak ko na kung bakit ako parte ng napakalaking proyekto na ito. Pero nandyan kayo para palaging ipaalala sa akin na kaya ko. Para sa inyo ito, sa pamilya ko, mga tropa ko at sa mga Kolokoys ko. Sa lahat ng bumubuo ng Running Man Philippines at sa mga co-runners ko, mahal ko kayo. Hanggang sa muli, tatakbo tayo ulit.
Fans of Kokoy, in return, greeted him for his triumph. Some of the comments he got on GMA Network’s YouTube channel included: Soooo proud of Kokoy, [you] earned this!...We witnessed Kokoy’s determination talaga para maipanalo ’to and he did his best. You deserve it!”
Ltreatment in a soft-focus, Insta-ready video, she ventured into realms not previously inhabited by Britain’s royal family, traditionally known for the stiff-upper-lip, “never complain, never explain” ethos of the late Queen Elizabeth II.
Here was the most popular royal, a public figure usually known simply as Kate, using the tools of social media to share the fact that for all her wealth and privilege, her life had been upended by cancer, just like millions of other people.
But it wasn’t just what she said, it was how she said it. Unlike earlier updates on Kate’s health, which sounded like factual news reports, this had an entirely different tone. The slickly produced mini-movie released on Monday showed the princess hugging Prince William and their three young children and sharing intimate moments at home with her parents.
There’s even a chaste kiss on her cheek.
“It is a real break,’’ said George Gross, a royal historian at King’s College London. “But I think people will look at it and won’t necessarily realize that. I think they will think: This is just right, this is normal.
KATE’S video marks the royal family’s latest experiment with greater openness since King Charles III assumed the throne in 2022. That has been tested
The British public wasn’t told that King George VI, Charles’ grandfather, had lung cancer before his death at the age of 56 in February 1952. The public death announcement said only that the king had “passed peacefully away in his sleep.”
King George V died in 1936, after suffering from heart and lung disease. Far from being open about the king’s health, palace officials manipulated the timing of his death to gain more favorable coverage. Diary extracts published 50 years later revealed that the king’s physician injected the terminally ill monarch with morphine and cocaine to speed his death— partly so it could be announced in the morning newspapers “rather than the less appropriate evening journals.”
A NEW GENERATION OF ROYALS
KATE and William, both 42, are of a new generation that is more comfortable sharing personal issues on social media. Kate’s video was shot by William Warr, creative director of Detail Films, which says it combines film production techniques and strategic marketing to create “beautiful branded films.”
“We exist to help brands tell stories that speak to their audience,” the firm says on its website.
In the video, Kate described how difficult the past nine months had been for her family and expressed “relief” at completing her course of treatment.
Ordering of Gods in ‘Kaos’
mythological time again. Or is this a case of Zeus is a snappy senior citizen in white shorts wondering about the wrinkles on his forehead. Hera, the mother of gods and goddesses, is still the termagant matriarch, a bit imbued with fresh looks, less scheming, but, if you care to miss her powers, then look at the screen for there is her name. Prometheus is engaging and he reminds us that in the world of divinities, with power comes thieves— the act of stealing a virtue until it is discovered and therefore punished. And the sentence is always creative, engaging; thus we see the guy who stole the fire from the gods. (In some accounts, there is as well Epimetheus. Prologue and epilogue of the gods).
Continued from B4
build any project if people don’t want it, because I’m not looking for profits. Barya lang ’yan. [That’s small change.] I don’t want to force a construction just to earn profits. I’m not like that. I want to build to improve the lives of people.”
Meanwhile, I am challenged by the fact that RSA, despite his age, has a blood pressure of 110/70. I expressed my complete disbelief and said he probably took anti-hypertension meds (like I do). “Hindi ah. I just don’t eat that much anymore.” Whoa. Not even Purefoods Chicharon Bulaklak?!
Seriously, I hope his BP remains normal after his group takes over Naia. It’s a nasty business but, yeah, someone’s gotta do it. n
The two leads are a giveaway: the young woman is called Eurydice. And if you are weaned on Greek mythology, by way of Homer and Edith Hamilton (remember the book for required reading in freshman literature), then you expect Orpheus to surface—descending or ascending, the plot will tell us later. Again, if you still are not caught in the web of storytelling, the names of the lovers are emblazoned on the screen, the better to put the audience in place in terms of memory and understanding.
Now, here is the problem with the gods in the narrative of Kaos. One, the story has been told for thousands of years already that it has become incumbent on the storyteller to create a twist or at least dress up the plot with something cool as the age of Singularity. Second, a huge part of the enjoyment of the audience depends greatly on how much they still know the Old Book. The experience is like a bookreading society in a cafe: you’ve got to be updated with the old as well as the new. A sort of snobbery in the Age of Starbucks, tablets, and doughnuts. Are we on the same page?
I am talking about Netflix’s Kaos, a retelling of Greek mythology. As with any kind of retelling, the same old question is there: Is the retouch wonderful? Or has it made the characters dowdier, forgettable. Believe me, I am a lover of myths, any kind of myth. Anything that has been defined as a lie telling a truth the way C.S. Lewis put it, there is certainly gold. I must admit I was kind of bored with the opening of Kaos via its Episode 1. One of the troubles with what I saw as a classical foreword was its palette - beige and pink and white and egg yoke yellow suffused the horizon. Allow me to be flippant: I still demand that the pantheon of gods and goddesses be occupied by pure gravitas.
I may date myself: in my generation, this kind of story, reinterpreted, was peopled by Sirs and Dames—the souls of John Gielgud, Ralph Richardson, Margaret Leighton, Diana Riggs and their personality templates need to be summoned. We want our Zeus to be able to survive meters and to transcend the elocution, to speak with gilded inflection. I think Hera in the person of the classically trained Janet McTeer fits the qualification; Jeff Goldblum, however, is a cultivated taste. The actor is much too quirky, too very much in the present. Or, maybe I am indeed dating
Some see the film as a reflection of a family bonded their thoughts with others.
“It is a love story,” former BBC royal correspondent Michael Cole told TalkTV. “You’re seeing it there. You’re seeing what it means to a family.’’
IT’S THE AGE OF SOCIAL MEDIA
THE fact that the royal family needed new techniques for controlling its story in the age of TikTok and Instagram was underscored after palace officials announced in January that Kate would be hospitalized for abdominal surgery. While the palace released few details about her condition, social media sites were filled with speculation about what was really going on as Kate retreated from public view to focus on her recovery.
When the princess announced that she had cancer two months later, she spoke directly to the public in a somber video in which she asked for “time, space and privacy” while she underwent treatment.
In June, Kate released a video update, saying she had good days and bad days.
The video should be seen as part of the king’s effort to increase the openness of the royal family as he seeks to build support for the monarchy, Gross said.
“It’s an operation. It’s the whole firm together,’’ he said. “And, I think, it really matches that sense of we’re being as open as we can, whilst retaining a natural sense of privacy that you need over these things.’’ n
myself. Now, why are the others so unattractive? In the physical sense of things. Now, do not be alarmed even if criticism is, by definition, a sort of a clarion call. Indulge me. Think of this initial review as your dear old critic plodding through the early episodes of Kaos
Was I interested in continuing to watch Kaos after Episode 1? Heart half in and half out—that was my state of being then. But I persisted. A change of heart began to consume the chill enveloping my combative position vis-a-vis this narrative unfolding before me—slow at times, ponderous at some turns, grandly sophomoric in humor.
But, surprise of surprises, I still was shocked at how the story of Eurydice (cornily called “Riddy”) and Orpheus turned out! Now, this is not the spoiler: if you know your myth, you know that Eurydice is going to die and she is not going to Heaven but to Hades. And whether you like it or not, Hades is not Glory. But we also know why their love story is immortal—because the love of Orpheus is so great—as the fun-loving, orgy-addict Dionysus says it, that love is greater than Death—that it could conquer mortality.
Change of heart: actually it is when this sleazy Dionysus played by Nabhaan Rizwan turns into a Cupid that I began to warm to the deconstruction of this aspect of Greek mythology. We also know this cinematic form has become compelling when the screen turns into black-and-white, a rendition of Death in all its restraint and gloomy poetry.
Kaos is marketed as dark comedy but I am hopeful that the other episodes will reengineer this ancient romance. As the structuralists put it, the elements of the myth may change but its structure will remain the same. Kaos streams on Netflix.
KATE, Princess of Wales, and Prince William with their children Prince George (right), Princess Charlotte and Prince Louis, left. AP
KOKOY DE SANTOS
‘Olympics’ of HR: Globe triumphs at 2024 Stevie® Great Employer Awards
GLOBE has emerged victorious at the prestigious 2024 Stevie® Great Employer Awards, securing an impressive tally of one Gold and three Silver awards. This achievement not only underscores Globe’s leadership in human resources but also highlights its relentless pursuit of creating a worldclass workplace.
Globe secured the Gold Stevie Award for Engagement/Happiness Team of the Year, for the first time joining this category. This win stands as a testament to the company’s innovative approach to fostering a vibrant and fulfilling work environment.
Globe’s Silver victories, meanwhile, further cement its status as a beacon of HR excellence:
• Employer of the Year –Telecommunications: Globe continues to dominate this category, marking yet another year of being recognized as the telecom industry’s employer of choice. This sustained excellence demonstrates Globe’s commitment to setting new benchmarks in employee satisfaction and industry leadership.
• Achievement in Organizational Culture: As the only Philippine company to clinch a Silver in this new category, Globe’s innovative and inclusive approach to building a dynamic organizational culture has set it apart on the global stage.
• Best Reward & Recognition Strategy: Globe’s unique and people-centric approach to employee recognition has once again placed it in the spotlight, being the sole Philippine winner in this category.
This accolade underscores Globe’s dedication to celebrating and valuing its employees in ways that resonate deeply with them.
Renato Jiao, Globe’s Chief Human Resources Officer, shared his pride in the company’s landmark wins in this year’s Stevies.
“Winning these awards is a testament to the incredible commitment of our people. At Globe, we believe that our employees are the heart of our success, and this recognition affirms the passion we pour into fostering an environment
where every team member feels valued, supported, and inspired to reach new heights,” said Jiao.
He added, “Our focus on employee well-being is not just a strategy, but a deep-seated belief that by empowering our people, we are fortifying Globe’s mission to enrich the lives of Filipinos through innovative digital solutions.”
Now in its 9th year, the Stevie® Great Employer Awards, often dubbed the “Olympics of HR,” attracted over 1,000 nominations from organizations spanning 35 nations and territories. Globe’s multiple accolades amidst such intense global competition speak volumes about its exceptional HR practices and its role as a global leader in employee engagement and satisfaction. Globe’s resounding success at the awards is a clear manifestation of its #AlagangGlobe philosophy— a commitment to caring for both employees and customers alike. As Globe continues to innovate and lead, its workforce remains motivated, engaged, and aligned with the company’s vision of driving positive change through technology.
SCG reports strong H1 growth, focuses on navigating economic challenges
Enchanted Kingdom celebrates Filipino talent, modern-day heroism at dance competition
ENCHANTED Kingdom, the first and only world-class theme park in the Philippines, paid a magical tribute to our modern-day heroes through the 2024 Agilakas Gumalaw Dance Competition at the Spaceport Grounds on August 24, 2024
The Agilakas Gumalaw Dance Competition is an annual event in EK that gathers talented dance performers in the country to show off world-class Filipino talent. This year, ten spectacular dance groups took their synchronized moves to the stage to show the world that “Pinoy, Magaling Ka!”
The NU Dance Company from Sampaloc, Manila highlighted the rich, dynamic Filipino culture through their winning performance. The group clinched the grand winner title and bagged P20,000, 20 return passes to EK, and a chance to perform in one of EK’s upcoming events.
amazing dance moves on the EK stage.
This magical celebration was made even more magical with the following sponsors: Surf, Dove Deo, Minute Maid, Pretzels Stick Snacks, Australia’s Own, Hello! Chocolate, Nips, Krrrrunch, C2 Cool and Clean, White Flower, and Selecta.
Taking part in the celebration of Buwan ng Wika this August, EK brought back BAYANI, its original musical production featuring OPM songs with their very own cast members performing. This year’s installment of the musical follows the story of Joana Makabayan in her journey of self-discovery as she joins the Girl Scouts of the Philippines.
The musical show will run until September 15 from Fridays to Sundays, 12:00 p.m. and 2:00 p.m. at the Eldar’s Theater.
and is focusing on innovative solutions to meet customer needs. The company is also capitalizing on infrastructure development in Indonesia and Vietnam, where government spending is on the rise.
THAMMASAK Sethaudom, SCG President and CEO
SCG announced its operating results for Q2/2024, demonstrating continuous improvement in sales, efficiency, sustainability
SCG reported a surge in secondquarter profit, buoyed by economic upturns in Vietnam and Indonesia. The company is implementing strategies to counter domestic economic headwinds and global uncertainties, including costcutting measures, AI integration, and a push into low-carbon cement.
Thammasak Sethaudom, SCG President and CEO, revealed that total revenue for Q2 reached P202.456 billion (US$3.542 billion), a three percent quarter-on-quarter increase. Net profit surged by 53 percent to P5.856 billion (US$102 million) during the same period. For the first half of the year, SCG generated a total revenue of P398.707 billion (US$6.976 billion), nearly matching the previous year’s figures. The company’s revenue streams were diversified across its business units, with SCG Chemicals contributing the most significant portion at 39 percent.
Despite facing headwinds such as the petrochemical downturn, intense competition, and a sluggish domestic economy, SCG has managed to sustain its growth trajectory through a series of strategic initiatives.
To mitigate rising energy costs, the company has boosted alternative fuel use
in its cement operations, achieving a 47 percent utilization rate in Thailand. SCG also focuses on high-growth segments like solar energy solutions and has invested in technology to optimize its supply chain and distribution network.
Furthermore, the company has leveraged artificial intelligence to enhance operational efficiency by tailoring its product offerings to meet customer needs, such as CPAC’s compact concrete mixer trucks designed for urban construction.
SCG had robust sales in the first half of 2024, with new products and green initiatives contributing significantly to its overall performance. High-valueadded products and services accounted for 39 percent of total sales, while environmentally friendly products under the SCG Green Choice brand made up 54 percent. The company also saw strong growth in its overseas operations, with 44 percent of total revenue generated outside Thailand.
By the second quarter, SCG had a strong financial performance, driven by robust economic recovery in Vietnam and Indonesia. However, the company cautioned that the overall economic landscape remains challenging, particularly in Thailand, where recovery has been slower.
To navigate these conditions, SCG has built up a substantial cash reserve of P124,616 Million (US$2,180 million)
SCG is ramping up its global presence and product offerings. The company is aggressively promoting its Low Carbon Cement, with exports to the US surpassing 1 million tons. Expansion into Vietnam and Australia is underway. In addition to cement, SCG is diversifying its portfolio. Its distribution arm, SCG Distribution and Retail, is expanding its retail footprint in ASEAN, with Mitra10 leading the charge. SCG Smart Living is introducing new landscape materials and HVAC systems.
The company is also making significant strides in the construction materials sector, with a focus on high-value products and expanding into new markets like India. SCG Chemicals is recovering from plant disruptions but faces industry challenges. To mitigate risks, the company is investing in green innovations and plastic recycling. The upcoming Long Son Petrochemicals project is a key growth driver.
SCG Packaging is expanding its capacity to meet rising demand, especially in tourism and services. The company is also venturing into medical supplies and labware. SCG Cleanergy is focusing on solar energy solutions and energy storage.
Despite economic challenges, SCG’s ASEAN operations have shown strong growth, driven by the recovery in Vietnam. The company continues to invest in research and development, with a focus on sustainability and innovation.
SCG’s commitment to the local market is evident through initiatives like the NATCON-CONEX 2024 exhibition and dealer appreciation programs. The company is poised to capitalize on growth opportunities in the ASEAN region and beyond.
NEW BREEDZ from Muntinlupa City and League of Monsters-Brothass from Calamba City, Laguna also took home cash prizes and tickets along with the runnerup titles. Rising P-Pop boy group sensation BILIB spiced up the night with a mesmerizing performance of their newest music along with their rendition of popular P-Pop hits.
The show also featured its judges, G-Force member Myka Espina Gonzaga and internet personality Xai Smith, as they turned up the heat by showing off their
Create more magical memories with your loved ones with EK’s newly launched attraction, the Midway Mirror Maze. Drop by the Midway Boardwalk, and help Eldar the Wizard and Princess Madeline in finding Princess Victoria by threading your way towards the center of this thrilling labyrinth.
For only P150, guests will be able to have special access to this EKciting and immersive adventure filled with captivating lights and visuals waiting at every turn. Special ticket rate is also available for students at P120, and senior citizens and PWDs at P107.14 only.
AMERICAN business news channel, CNBC, and market research firm, Statista, hve named Tala as one of the World’s Top Fintech Companies for 2024. Particularly, it was listed under the Alternate Finance segment comprised of digital platforms offering companies and consumers a way to raise money online, using technologies like the cloud and AI algorithms.
Tala is a global technology firm building the world’s most accessible financial services. It first entered the Philippine market in 2017 and has grown exponentially. As the first international fintech company for the global majority, it provides customers with flexible, convenient online credit that they can use to manage day-to-day needs, start/ expand small businesses, and improve their financial lives.
“We are honored to be recognized again by CNBC, this time as one of the top fintech companies globally. This, together with our inclusion in the CNBC Disruptor
50 list and the Forbes 9th Annual Fintech 50, is a reflection of our success in the industry measured by the positive impact we make in the lives of the Global Majority,” said Tala Philippines General Manager Moritz Gastl. “Currently, Tala is serving over nine million customers across four different markets.” Its mobile app uses next-generation technology, such as alternative data and machine learning to assess creditworthiness, enabling customers sans a traditional credit history, for example, to access loans.
“The top list is based on the analysis and weighting of overarching and segment specific KPIs. In consideration for the top list, overarching KPIs had a weight of 40 percent while segment specific KPIs had a weight of 60% to derive the final score. The companies with the highest score within their market segment were awarded,” CNBC and Statista said. Over 2,000 firms were considered before the final cut of 250 companies to be included in the list.
PHL, VIETNAM FIRMS RENEW BUSINESS TIES Viettel High Tech Corp. General Director Nguyen Vu Ha (left, seated) and Contactpoint Inc. President Cesar J. Manuel (seated, right) ink the new business cooperation contract during their signing ceremony held at Discovery Primea Hotel in Makati City last Aug. 29, 2024. Under the partnership, Viettel will supply state-ofthe-art and high technology products for the clients of Contactpoint in the Philippines. Viettel Group Chairman and General Director Tao Duc Thang (left, standing) together with Police Brigadier General Jerich Tan Royales (center) and PBGeneral Radel DL. Ramos witnessed the signing of the contract. Early this year, the two companies signed a contract for
The two latest full-electric models serve as counterparts to BMW’s internal combustion engine versions. Both electric vehicles join other EV models in the roster, representing the Bavarian automaker’s German brand’s emission-free driving pleasure in the Philippines. The first-ever BMW iX1 eDrive20 xLine
DESIGN-WISE , it has muscular proportions, squared-off wheel arches, and signature BMW X styling elements. The front end features sleek adaptive LED headlights with advanced lighting functions, a prominent kidney grille, and distinctive X-shaped design elements. A sloping roofline highlights its sculpted silhouette. The BMW iX1 eDrive20 xLine SAV rolls on 18-inch aerodynamic wheels.
Inside, the raised seating position provides a premium feel, along with a slim instrument panel, a BMW Widescreen Display,
a floating armrest with a control panel, and a wireless smartphone charging tray in the front center console. The sports seats come in Veganza leather upholstery, with electric adjustments, memory, and lumbar support. The rear has three full-sized seats with better comfort and a 40:20:40 split for adjustable backrests. Boot space ranges from 540 to 1,600 liters. Two-zone automatic climate control, Sport leather steering wheel, and BMW Maps as standard. The BMW Maps navigation system, a Sport leather steering wheel, intelligent two-zone automatic climate control, and a rain sensor with automatic headlight activation all come as standard in the new generation of the BMW iX1 eDrive20 xLine, as do four USB-C ports, two 12V power sockets and a far greater number of driver assistance systems. Motivation comes from a robust electric motor generating 204 hp and 247 N-m of torque. Paired with a single-speed automatic transmission, BMW claims the iX1 accelerates from 0 to 100 km/h in just 8.6 seconds with a top speed of 170 km/h. Powered by a 64.8 kWh battery, the total drive range is 430 to 473 km, with an efficient energy consumption of 17.2-16.7 kWh/100 km. For safety and convenience,
Cruise Control with brake function and the front-collision warning system, Parking Assistant including Reversing Assist Camera and Reversing Assistant, Steering and Lane Control Assistant, Active Cruise Control with Stop-and-Go function, Active Navigation with Real-Time Traffic Information, and exit warning function are all standard.
Also available are the BMW Operating System 9 and the new BMW iDrive.
The standard-fit BMW Live Cockpit Plus is the latestgeneration BMW iDrive multisensory vehicle experience. Based on BMW Operating System 9, it comprises the BMW Widescreen Display with graphics and menu structure along with the BMW Intelligent Personal Assistant.
The fully digital screen clusters the 10.25-inch information display and the 10.7-inch diagonal control display screen equipped with intuitive touch and voice control. Moreover, The BMW ID functionality and smartphone integration use Apple CarPlay® and Android Auto™. The BMW iX1 eDrive20 xLine will be equipped with BMW ConnectedDrive, accessible through the MyBMW App.
The BMW iX1 eDrive20 xLine retails at P3.990 million, which
THE new Coolray from Geely will be in Geely dealerships shortly. As reported by Angela Patricia A. de Luna, the company’s brand marketing manager, the SUV has undergone key upgrades for technological adaptations.
It is now equipped with NordThor Power 1.5TD engine with a maximum net power of 128kW and maximum torque of 290N.m.
“These new upgrades will allow the driver to enjoy faster acceleration and easy gear shifting at a more fuel efficient rate,” De Luna said. “The new Coolray is now supported by BMA global new
generation modular architecture chassis for a more stable, smoother and more comfortable ride. Lastly, this sweet ride boasts of a smart driving mode feature that can identify driving habits and road conditions for a better driving experience.”
It has a redesigned robust air inlet grille, energy matrix LED headlamp and Tomahawk-style 18-inch wheels and sport calipers. The interiors have premium leather multi-function steering wheel, suspended integrated 10.25-inch LCD instrument panel + 12.3-inch HD touch screen, and rhythmic ambient lighting.
Parking allows the car to park horizontally, vertically or inclined and made safe by its adaptive parking brake and 12 parking sensors, plus 6 airbags for collision protection.
“This flagship model that introduced the Geely brand to the Philippine market in 2019 has now captured the hearts of many
Filipinos,” said Will Wan, the head of Geely Philippines.
De Luna invites customers to visit Geely dealerships at https:// geelyph.com/find-a-dealer/.
Less Toyota EVs by 2026
NIKKEI has reported that Toyota Motor of Japan will implement a big slash in its production of electric vehicles (EV) in 2006, citing a slowdown in the global EV market.
Nikkei’s full report:
“NAGOYA—Toyota Motor plans to significantly slow its production of electric vehicles, cutting its global output forecast for 2026 to 1 million cars, some 30 percent lower than the previously announced sales forecast for the same year, Nikkei has learned.
“The Japanese automaker’s decision to cut EV production was prompted by the slowdown in the global EV market. Toyota has notified its parts suppliers of the decision.
includes a 5-year BMW factory warranty and a BMW Wallbox Charger (home installation is free of charge). Available colors are Mineral White, Black Sapphire, Space Silver, Phytonic Blue, San Remo Green, and Cape York Green.
The first-ever BMW iX2 eDrive20 M Sport
THE BMW iX2 eDrive20 M Sport is a pioneer Sports Activity Coupé (SAC) in the premium compact segment. It has a larger frame and pronounced coupe silhouette with dynamic lines. Its front end features Adaptive LED headlights and a distinctive hexagonal grille. The back end complements with muscular shoulders, eye-catching horizontal lights, and a performance-inspired spoiler and apron.
The first-ever BMW iX2 has a unique, visually expressive design showing clear differentiation from the brand’s compact Sports Activity Vehicle (SAV) X1 and iX1, instantly identifiable as a pure-bred Sports Activity Coupé (SAC).
The vehicle has a standard with 19-inch light-alloy wheels and a maximum load capacity of 5251,400 liters.
Inside, it’s modern and sporty, with a sleek dashboard featuring the BMW Widescreen Display. The center console has wireless charging and cup holders. It also features
upgraded seats and improved safety in premium Veganza and Alcantara leather. Standard equipment includes dual-zone climate control, BMW Maps navigation, a leather sport steering wheel, automatic tailgate operation, and multiple charging options, including four USB-C ports and a 12V power outlet. Other premium features are a mirror package and a Harman Kardon sound system. Also fitted is the latest version of the BMW iDrive display and control/ operation system featuring QuickSelect rapid access tech.
Based on BMW Operating System 9, it is packaged with the BMW Widescreen Display and BMW Intelligent Personal Assistant for touchscreen and natural language operation. There is also a cloudbased BMW Maps navigation system. In addition, the BMW ID functionality and standard smartphone integration have both Apple CarPlay® and Android Auto™ compatibility.
Motivation comes from a 204-horsepower electric motor also delivering 250 N-m of torque. Paired with a single-speed automatic transmission, enabling 0 to 100 km/h sprint in 8.6 seconds with a top speed of 170 km/h. Its 64.8 kWh battery pack provides an electric range of 439 and 478 kilometers with an estimated
efficiency of 16.9 to 15.3 kWh/ 100 km. Damping-wise, the adaptive M suspension features frequencyselective damping, sport steering, and a lowered ride height. The front single-joint spring strut and rear three-link axle, near-actuator wheel slip limitation, and lift-related damping assist in the car’s handling and stability.
For safety and convenience, standard features include the latest version of the front collision warning system, Cruise Control with brake function, Speed Limit Info, and Lane Departure Warning with lane return. Moreover, there is a Parking Assistant, including a Reversing Assist Camera and Reversing Assistant. Other added features are Steering and Lane Control Assistant, Blindspot Monitoring and Rear Cross Traffic Alert, Active Navigation with Real-Time Traffic Information, and the exit warning function. The car also offers enhanced noise insulation and a new airbag between the front seats for added protection. The BMW iX2 eDrive20 M Sport retails at P4.290 million and comes with a 5-year BMW factory warranty and a BMW Wallbox Charger (home installation is free of charge). The available colors are Brooklyn Grey, Portimao Blue, Alpine White, and Black Sapphire.
New Coolray here; Toyota to slash EVs
“Under the new plan, Toyota aims to produce a little more than 400,000 EVs in 2025 and to more than double production the following year.
“The Japanese automaker, which has focused on hybrid vehicles, sold about 100,000 EVs in 2023 and around 80,000 EVs from January through July this year. The new 2026 forecast still amounts to a big rise in EV sales, but production will noticeably slow, compared with the previous plan.
“Last May, Toyota announced a plan to lift its global EV sales to 1.5 million vehicles by 2026. It has said that the number was intended to provide a benchmark to gear up its supply chain for batteries and other products to keep pace with the expected rapid growth of the EV market.
“Toyota’s decision comes as the global EV market has been cooling. According to U.K. research specialist GlobalData, global EV
sales reached 9.7 million units in 2023, a 32 percent increase from the previous year.
“However, the growth rate has decelerated: In 2022 EV sales rose 65 percent on the year to 7.4 million cars.
“US based EV maker Tesla’s global sales from January to June fell 7 percent on the year to 830,000 units. This marks the first time that Tesla’s half-year sales have fallen below the previous year’s figures.
“China’s BYD sold 720,000 EVs during the same period, an 18 percent increase, but its sales of plug-in hybrid vehicles (PHVs) jumped 40 percent to 880,000 units, topping its EVs in terms of both growth rate and total units sold.
“Toyota is not the only big global automaker revising its EV strategy. Germany’s
THE first-ever BMW iX2 eDrive20 M Sport
THE first-ever BMW iX1
eDrive20 xLine
PBBM hails Paralympians in fitting Palace ceremony
By Reine Juvierre S. Alberto
RESIDENT Ferdinand
PR. Marcos Jr. rendered a heroes’ welcome to the country’s representatives to the recently-concluded Paris Paralympics and gifted each of the six athletes with P1 million incentives.
That’s President Marcos again showing that sports have a special place in his heart.
“Today, we honor our incredible Filipino Paralympians who have brought pride to the Philippines at the 2024 Paralympic Games in Paris,” President Marcos said. “They are a glaring reminder that greatness is measured by heart and spirit, not by physical ability.”
He added: “The whole country has been left inspired by your journey and achievements. Furthermore, we thank each of you for inspiring us to push beyond limits.
Paralympian swimmers Ernie Gawilan and Angel Otom, javelin thrower Cendy Asusano, wheelchair racer Jerrold Mangliwan, archer Agustina Bantiloc and taekwondo jin Allain Ganapin were warmly welcomed in Malacañang by the President, along with First Lady Louise Araneta-Marcos and their sons, Vincent and Simon. Joining them were Executive Secretary Lucas Bersamin and Philippine Paralympic Committee
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Friday, SeptemBer 13, 2024
mirror_sports@yahoo.com.ph
Editor: Jun Lomibao
of P20 million for his two gold medals and Petecio and Villegas P2 million each while giving P1 million each to the 19 other Paris Olympians in a similar Palace ceremony last month.
Gymnasts Aleah Finnegan,
“They also endured
POC back to work from Paris euphoria
HILIPPINE Olympic Committee
P(POC) members savored the success from the Paris Olympics campaign during their General Assembly on Wednesday with the preparations for the 33rd Southeast Games in Thailand next year and the POC elections this November keeping the body busy at the East Ocean Seafood Restaurant in Pasay City.
“The SEA Games next year in Thailand is a concern, we’re bound to lose eight gold medals in four sports dropped by the Thais from their program,” POC president Abraham “Bambol” Tolentino said. “But we’re not losing hope, the appeal is there, and it will be decided in a SEAG Federation meeting next month.”
The SEAG Federation will meet on October 15 to update preparations for the SEA Games Thailand is hosting from December 9 to 20, 2025, in Bangkok, Chonburi and Sonkhia.
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in dominant
POC’s—and that of other SEA Games nations—appeal for weightlifting, wushu, jiu-jitsu and karate, all traditional SEAG sport, to be inserted in the program.
“It’s a tough task considering that the Thais will be hard-pressed to dominate the games,” said Tolentino, who was hailed by the assembly for his election to a four-year term as Olympic Council of Asia Legal Committee chairman during the organization’s meeting last Sunday in New Delhi.
Also discussed were:
n The reappointment of karate’s Richard Lim as chef de mission to the Asian Winter Games from February 7 to 14 next year in Harbin, China, following the cancelation of the Asian Indoor and Martial Arts Games (AIMAG) in Thailand this November, n Saudi Arabia will host the canceled AIMAG in still-to-bedetermined dates and specific venue in 2025,
for the International Container Terminal Services Inc. (ICTSI) Junior Match Play Championships.
Zaragosa closed out the Luzon Series 7 at Sherwood Hills Golf Club on Thursday with a 77 to rule the girls’ 13-15 division title with a 54-hole total of 234 and solidify her top ranking in her group after the seven-leg Luzon series. In what began as a close contest with Kendra Garingalao in intermittent rains, Zaragosa pulled away from Kendra Garingalao under intermittent rain in the last nine holes to turn a fierce duel into a convincing nine-stroke victory.
Winner at Splendido Taal and Luisita, Zaragosa’s consistency paid off as she also vaulted past twins Lisa and Mona Sarines in the final rankings. Only the best four scores counted, and the top four players in each of the 8-9, 10-12 and 16-18 groups advanced to the Match Play Finals set October 1 to 4 at The Country Club (TCC) in Laguna.
Levonne Talion, who did not compete this week along with the Sarines sisters, secured the last spot, while Alexie Gabi also advancing in the category through the multiple series format. Looking ahead to the finals, 13-year-old Zaragosa stressed the importance of sharpening her short game as she prepares for the challenging TCC layout.
“I’ll be focusing on my short game for the finals,” said Zaragosa, after weathering a tough day-long battle
n Initial details of the 20th Asian Games in Nagoya from September 19 to October 4, 2026.
n Members of the Commission on Elections for the POC elections on November 29.
Chartered Arbiter and Accredited Mediator Atty. Teodoro Kalaw IV returns as chairman of the POC electoral body after his stints in 2020 and 2024 and he will be joined by Colegio de San Juan de Letran Rector President Fr. Napoleon Encarnacion, OP, and Philippine Sports Commission Commissioner Olivia “Bong” Coo as members.
The POC assembly unanimously approved the appointments.
“The COMELEC led by Atty. Kalaw will lay down the rules of the elections and they will set the deadline for the filing of candidacy and handle screening of the candidates,” said Tolentino, who will seek another full four-year term as president.
Container Terminal Services Inc. Global Corporate PR manager Bambi Marfil (left) and Sherwood Hills golf operations head Gerlie Resmundo (right).
she said. “I played it safe the entire round and concentrated on my putting, which made the difference.”
Top-tier prizes in Highlands Ladies Cup
Adams returns as SMB import
By Josef Ramos
JORDAN ADAMS is back in a San Miguel Beer uniform when the Beermen play the Phoenix Super LPG Fuel Masters in the Philippine Basketball Association Governors’ Cup Friday at the Smart Araneta Coliseum. Adams was recalled in lieu of Sheldon Mac, who played one game in the Beermen’s 119-114 victory over the NLEX Road Warriors that gave them a 4-2 win-loss record in Pool B.
“We just have to reactivate Adams because of chemistry,” team manager Gee Abanilla told BusinessMirror on Thursday. “Sheldon Mac is a good import, but he plays 1-2-3 positions which is loaded in our team. We need somebody who plays in the post or 4-5 positions.”
The 6-foot-5 Mac, a former Washington Wizards guard, scored 16 points in 26 minutes against NLEX but only had one rebound, one assist, one steal and one block.
Adams, formerly with the Memphis Grizzlies, played in the Beermen’s first five games and averaged 34.8 points, 7.6 rebounds, 4.0 assists and 2.8 steals before the coaching staff tried a new system with Mac.
“The coaches agreed to stick with Adams,” Abanilla said. “We just have to stay competitive because all the teams have improved.”
San Miguel Beer plays winless Phoenix (0-6) on Friday at 5 p.m. at the Smart Araneta Coliseum.
Rain or Shine (5-1) goes for a repeat of its 73-64 win over Barangay Ginebra San Miguel (4-2) in Candon, Ilocos Sur, last August 24 when the Elasto Painters and Gin Kings (4-2) clash anew in a Pool B at 7 p.m.
Senator Pia leads groundbreaking activity for new athletes dormitory
SENATOR Pia Cayetano joined sports officials and national athletes at the groundbreaking ceremony of a future seven-storey Athletes’ Dormitory inside the Rizal Memorial Sports Coliseum on Thursday. Cayetano, a former national volleyball player and student-athlete, has been instrumental in funding this milestone infrastructure project and as Senior Vice Chairperson of the Senate Committee on Finance, she has been at the forefront of advocating for more support for Filipino athletes and sports development.
“I really believe that athletes can be the symbol of perseverance and success for this country,” Cayetano said. “This project [was undertaken] with the leadership of Philippine Sports Commission [PSC], your coaches and my colleagues in the Senate, who are supportive of this. We hope to continue to invest in sports for this country.”
The project, initially announced by Philippine Sports Commission (PSC) chairman Richard Bachmann earlier this year, is envisioned to provide both living quarters and training facilities for national athletes.
The new building will be constructed on the site of the former
pencak silat and boxing gyms, adjacent to the Teofilo Yldefonso Swimming Center.
The new structure will serve as living quarters for the athletes with the sixth and seventh floor housing training venues for pencak silat and boxing, respectively.
National athletes are currently housed in various spaces at the Rizal Memorial Sports Complex in Manila and the PhilSports Complex in Pasig City. Cayetano recalled living in the South Tower of the Rizal Memorial Stadium when she was a national volleyball player and emphasized the athletes’ need for better support systems and facilities, including sports psychology and mental health programs, underscoring the importance of community support in developing athletes.
“They always say it takes a village to raise a child,” she said. “It also takes a village to raise an athlete. It really does.”
Joining Cayetano in the groundbreaking ceremony were Bachmann, and commissioners Olivia “Bong” Coo and Walter Francis Torres, former long jump
Elma Muros, national athletes of indoor hockey, softball, baseball weightlifting and sepak takraw.
Team PHL rips 1st round foes in Olympiad
THE Philippines got off to rousing start after shutting out Aruba in the men’s division and Malawi in the women’s side at the start Wednesday of the 45th FIDE Chess Olympiad at the BOK Sports Hall in Budapest.
Midlands Lucky 9 course. The Grass Shark, a lightweight and foldable electric caddy worth P200,000, will also be available for golfers who ace No. 9 of the Lucky 9 course. However, if no one wins these prizes during the competition, they will not be included in the raffle draw. After a three-year hiatus due to the pandemic and the Taal Volcano eruption, the tournament made a successful comeback in April of last year, celebrating the 18th anniversary of the Tagaytay Highlands Ladies team.
International Master (IMs) Daniel Quizon and Ruelle Canino, only 16, played true to form in their Olympiad debut with impressive results—Quizon beat FIDE Master Juan Pablo De Mey in 35 moves of a Sicilian Dragon on the top board and Canino weaving through the English Opening for a 35-move win over Anne Simwabe on the fourth board. Woman International Master Jan Jodilyn Fronda, on the other hand,
SENATOR Pia Cayetano with national athletes and Philippine Sports Commission officials led by chairman Richard Bachmann, commissioners Walter Torres and Olivia “Bong” Coo and national athletes.
women’s
Jayson Gonzales, Jan Jodilyn Fronda, Bernadette Galas, Ruelle Canino, Shania Mae Mendoza, Janelle Mae Frayna, Daniel Quizon, Jem Garcia, Pau Bersamina, John Paul Gomez and men’s coach Eugene Torre.
PRESIDENT Ferdinand R. Marcos Jr., First Lady Louise Araneta-Marcos and their sons, Vincent and Simon, with Paralympians Angel Atom, Ernie Gawilan, Cendy Asusano, Agustina Bantiloc, Jerrold Mangliwan and Allein Ganapin. MALACAÑANG PHOTO
