Development Advisory Council (Ledac) on Tuesday agreed to add five more priority measures to its list, bringing the total to 28. These bills are all anticipated to become law over the final 73 days of the 19th Congress. Speaker Ferdinand Martin G. Romualdez announced the status of the five new Ledac measures in the House of Representatives: amendments to the Foreign Investors’ Long-Term Lease Act (no bill filed); amendments to the Agrarian Reform Law (under committee
deliberations); the Archipelagic Sea Lanes Act (approved on third reading); reforms to the Philippine Capital Markets (approved on third reading); and amendments to the Rice Tariffication Law (RTL) (approved on third reading).
“Most of the bills [25] are already in their final stages and have been approved by the House of Representatives. We are committed to approving the remaining measures named during our Ledac meeting with President Bongbong Marcos, Senate President Chiz Escudero, and other officials. These legislative measures are crucial to the country’s development agenda,” Romualdez said.
“The President has emphasized the importance of passing these measures to advance the policies of the Marcos administration for the country’s continued economic recovery, progress, and stability,” Romualdez added.
On Tuesday, President Ferdinand R. Marcos Jr. presided over the 5th Ledac meeting at Kalayaan Hall in Malacañang Palace to discuss the approval of bills for inclusion in the Common Legislative Agenda (CLA). Attendees included Romualdez, Escudero, National Economic and Development Authority Secretary Arsenio M. Balisacan, Chief Presidential Legal Counsel Juan Ponce Enrile,
Special Assistant to the President Antonio Lagdameo Jr., Special Assistant to the President for Investment and Economic Affairs Frederick Go, Budget Secretary Amenah Pangandaman, and other government officials. The Ledac, chaired by Marcos and composed of representatives from the Senate, the House of Representatives, and the Cabinet, is a high-level advisory body that sets the legislative priorities of the government.
In its meeting, Ledac approved 18 bills as top priority, eight of which are already in advanced
ANALYSTS: NO KEY RATE CUTS IN PHL THIS YEAR
By Reine Juvierre S. Alberto @reine_alberto
ANY key policy rate cuts in the Philippines for this year are seen to be off the table, including the anticipated rate cut as early as August, according to foreign analysts.
ANZ Research reported on Tuesday that it only forecasts rate cuts in 2024 in South Korea, while saying it is likely impossible for the Philippines and Indonesia to reduce key policy rates this year.
“Rate cuts in Indonesia and the Philippines are also not on the table this year,” the report said. Earlier, BSP Governor Eli M. Remolona said monetary authorities may start gradually cutting policy rates by August, which may or may not come ahead of the actions of the US Federal Reserve.
Finance Secretary Ralph G. Recto has also said that the Monetary Board could reduce key policy rates by 150 basis points within two
SBy
Andrea E. San Juan @andreasanjuan
INGAPORE, Malaysia and the Philippines are among the “most exposed” to trade disruptions or could face strong threats to their output if Taiwanese exports are hampered, according to UK-based think tank Oxford Economics.
“Singapore, Malaysia and the Philippines are among the most exposed in our full scorecard covering 63 countries, and would face strong and immediate threats to their output were Taiwanese exports to be impeded,” the think tank said on Tuesday.
The UK-based think tank, in partnership with global leader in time-series data and
years. Remolona, however, said it is only possible to bring down key rates by 50 bps this year if there was a risk of a “hard landing.”
ANZ Research Chief Economist for Southeast Asia and India Sanjay Mathur pinned the high commodity prices, although receding but “still running close to the upper bound” of the national government’s inflation target of 2 to 4 percent, to the unlikely rate cut this year.
Inflation increased to 3.9 percent in May this year, close to breaching the government’s target. This is faster than the 3.8 percent in April 2024 but slower than
See “Key rate,” A
analytical software Haver Analytics, measured “direct trade exposure” by constructing a “cross country” matrix of bilateral trade with Taiwan.
This, as Oxford Economics laid out its analysis of “crosscountry [gross domestic product] GDP vulnerabilites” potentially brought about by tensions arising from China and Taiwan, which it said could lead to disruption of the global semiconductor supply chain.
“To measure direct trade exposure, we construct a cross-country matrix of bilateral trade with Taiwan, as well as Taiwanese and Chinese import penetration into the broader electronics sector, using data from national
See “Trade,” A
TBy Ada Pelonia @adapelonia
HE Rice Tariffication Law (RTL) and the Rice Competitive Enhancement Fund (RCEF) did not significantly improve the country’s rice productivity, according to the Congressional Policy and Budget Research Development (CPBRD).
A report by the CPBRD stated that despite the allocation of funds through the RCEF, there was “little” indication of significant productivity improvements.
Citing figures from the Philippine Statistics Authority (PSA), CPBRD noted that the compound
annual growth rate (CAGR) during pre-RTL production data of irrigated palay stood at 2.37 percent, higher than the CAGR from 2019 to 2022 at 1.07 percent.
It added that while the postRTL CAGR of 3.5 percent for rainfed farms is larger than its corresponding pre-RTL CAGR of 2.59 percent, this could be attributed to the “significant contraction and subsequent rebound in the productivity levels of rainfed farms in 2019 and 2020.”
“It is instructive to emphasize that while the period for evaluation appears to be short, it still
See “RTL,” A
DMW bans 3 shippers from sending OFWs to risky zones
By Samuel P. Medenilla
@sam_medenilla
AMID the rising number of Filipino seafarers who became victims to attacks in the Red Sea and Gulf of Aden, the Department of Migrant Workers (DMW) has banned three shipping companies from sending Filipino seafarers to the dangerous waterways.
It made the announcement after President Ferdinand R. Marcos Jr., called for safer working conditions for the around 500,000 Filipino seafarers working worldwide during the international celebration of the Day of Seafarer.
“This year’s theme is a clarion call for us to share the best practices that help make the maritime sector
statistical offices and the UN’s Comtrade database,” the UK-based think tank noted.
Oxford Economics said they included China in the electronics trade measure to capture Taiwanese exports that travel via China for further processing before reaching their destination as well as a “more general hit” to Chinese exports in the event of “cross-strait tensions.”
The think tank noted that 49 percent of Taiwan’s semiconductor exports went directly to Mainland China and Hong Kong in 2022.
The analysis pointed out that since Malaysia and the Philippines both play key roles in the installation of semiconductors
a better, safer, and more fulfilling workforce for our seafarers,” the President said in a statement.
Partial prohibition IN an online press conference on Tuesday, DMW Secretary Hans J. Cacdac said the restriction will cover the shipowners of Galaxy Leader, True Confidence , and Tutor
“We will no longer process or allow the boarding of seafarers onboard these three principals or shipowners who have been the subject of an attack,” Cacdac said.
However, he stressed the prohibition is not absolute and DMW will still process Filipino sailors for the said shipowners for routes which will not pass through the Red Sea or Gulf of Aden.
into new goods for re-export, this makes them another “key linchpin” in the global goods trade.
Moreover, according to the Semiconductor Industry Association (SIA), these goods account for 40 percent of exports in Malaysia and 60 percent in the Philippines.
The UK-based think tank explained that its “China-Taiwan vulnerability scorecard” can help decision makers conceptualize and quantify risks and “confidently reflect them in strategy and policy planning exercises.”
To further illustrate the impact of Taiwan on global growth and industry performance, the think tank said, “Taiwan is the primacy producer of high-end semiconductor cihps, with over 90 percent of semiconductors [<10 nanometers] produced in Taiwan.”
As such, the think tank explained,
“This is also our way of telling them and everyone else that route diversion is the best way to ensure the safety of Filipino seafarers at this stage,” the DMW chief said.
MV Galaxy Leader was hijacked by Yemen-based Houthi forces last November. Its 17 Filipino crew remain under the custody of their captors.
Meanwhile, MV True Confid ence was hit by a Houthi missile attack, while passing through the Red Sea, leading to the death of its two Filipino crew members.
As for MV Tutor, it sank last week after being hit by a Houthi missile attack on June 17, 2024. Twenty-one of the 22 Filipino crew were rescued and already repatriated. One of its Filipino crew remains missing.
“Continued technological advancement has placed renewed importance on high-end chips, which are a crucial component of a wide array of electronics, including smartphones, autos, video game systems, high-end military equipment, as well as powering [artificial intelligence] AI applications and data centers.”
That being so, Oxford Economics said disruption to Taiwanese trade or interruption to the production of semiconductors in Taiwan “poses a severe risk to global growth and industry performance through a combination of direct and indirect impacts.”
The think tank said the “severity” of countries’ GDP exposure to China-Taiwan tensions could be impacted by a combination of factors: trade exposure to Taiwan and mainland China; wider economic and industry reliance on semiconductors for producing
Additional security requirement
CACDAC said the restriction can cover more shipping firms that will violate their new security requirements, which includes a threat and risk assessment, maritime security escorts, as well as armed guards onboard ships.
Each shipping company must submit an undertaking that they will not board Filipinos on ships which will pass through the Red Sea and the Gulf of Aden.
Those which will violate the provision of the affirmation letter can face “harsh penalty” from DMW.
“They can face possible suspension or [or a processing ban] to voyage in other routes,” Cacdac said.
He said they can also impose the sanction for companies which fail to recognize the Right to Refuse sailing.
output; and “price ramifications” of shortages and disrupted shipping.
The latest data released by the Philippine Statistics Authority (PSA) showed that electronic products remained the country’s top exports which booked $14.04 billion in the January to April 2024 period, 17.9 percent higher than the $11.90 billion recorded in the same period in 2023.
The country’s electronics exports occupied 58 percent of the exports earnings pie in the first four months of the year, PSA data showed.
According to an earlier story, the Philippine semiconductor and electronics industry said it is seeing some “modest” growth based on global market demand.
This, Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) President Danilo C. Lachica told reporters in April, despite the industry gunning for flat growth this year.
“The projection is flat but there’s optimism based on global demand that we will see some modest growth,” Lachica said. (See:https:// businessmirror.com.ph/2024/04/11/seipibanks-on-global-market-demand-to-seemodest-growth/)
the 6.1 percent in May 2023; and settled within the target of Bangko Sentral ng Pilipinas (BSP) at 3.7 to 4.5 percent.
“The outturns are still not low enough to permit rate cuts, but even so they have allowed the BSP to dial down its hawkishness,” Mathur said in the report.
The Monetary Board, the highest policy-making body of the BSP which sets key policy rates in the country, will meet on June 27, Thursday.
Inflation, meanwhile, in Singapore, South Korea and Taiwan has been “stickier,” while it has “eased considerably” in developing Asia, such as the Philippines, where inflation remained in the official target range despite high food prices, ANZ Research said.
ANZ Research forecasts inflation in the Philippines to settle at 3.6 percent in 2024, lower than the 3.8-percent inflation outlook it released in the first quarter of the year.
represents multiple harvest cycles. The magnitude of the RCEF suggests that its major impacts should be, at least, observable within the first cycle after its full implementation,” the report read.
The CPBRD report also indicated that rice prices remained stable possibly because of the greater inflow of imported rice, noting the tradeoff between producer and consumer interests.
It added that the value of rice imports increased from P58 billion in 2021 to P90 billion in 2023, while duties increased from P19 billion in 2021 to P30 billion in 2023. Throughout this period, the effective aggregate duty rate stayed constant at around 33 percent.
The report also highlighted that Filipino consumers are charged a hefty premium for imported rice wherein a P25 per kilogram could reach P45 after tariffs and importation costs.
stages in the legislative process, and ten bills as second priority for passage.
The Ledac has identified 10 bills as top priority: Reformsto Philippine Capital Markets;Archipelagic Sea Lanes Act; Amendments to the Right-of-Way Act;Excise Tax on SingleUse Plastics; Rationalization of the Mining Fiscal Regime; Amendments to the Electric Power Industry Reform Act (Epira); the Department of Water Resources; CREATE MORE Act; Amendments to the Foreign Investors’ Long-Term Lease Act and Amendments to the Rice Tariffication Law.
In the advanced stages of development are the AntiAgricultural Economic Sabotage Act, Amendments to the Government Procurement Reform Act, Anti-Financial Accounts Scamming Act, Self-Reliant Defense Posture Revitalization Act, Philippine Maritime Zones Act, Academic Recovery and Accessible Learning (ARAL) Program Act, VAT on Digital Services, and the New Government Auditing Code.
In the second priority category, legislation being pursued includes the Blue Economy Act, Enterprise-Based Education and Training Framework Act, Amendments to the Universal Health Care Act, Open Access in Data Transmission Act, Waste-to-Energy Bill, Mandatory Reserve Officers’ Training Corps (ROTC), Unified System of Separation, Retirement and Pension of Military and Uniformed Personnel, E-Government Act / E-Governance Act, Amendments to the Agrarian Reform Law, and the Philippine Immigration Act.
“The timely passage of these bills is critical in strengthening the country’s economic governance and ensuring that we are on track in implementing infrastructure flagship projects and maintaining fiscal sustainability,” Neda
Secretary Arsenio M. Balisacan said in a statement.
Balisacan called for greater cooperation between the executive and legislative branches to develop consensus versions of the priority measures.
“We thank the leadership of both houses of Congress for their commitment to fast-track the passage of these important measures. These bills represent our concerted effort to shape the nation’s economic governance, foster
This is also the same as the BSP’s 3.6 percent inflation full-year forecast. ANZ Research noted that its policy rate forecasts are in response to its revised Fed Funds Rate (FFR) forecasts and economyspecific considerations, such as external position, inflation and growth.
Meanwhile, the report said the Philippines’s current account deficit has “considerable improvement,” narrowing due to lower trade deficits and a steady flow of remittances.
“In fact, BSP has progressively lowered its 2024 current account deficit forecast from around 3 percent of GDP to 1.6 percent now,” it added.
In terms of household consumption, ANZ Research said the slowdown in private consumption in the Philippines is “more genuine” on the back of weaker purchasing power.
“We view this slowdown positively as it should alleviate inflation and current account pressures. The current account deficit has been narrowing,” it said.
This could imply that every benefit that redounds to farmers through the RTL and RCEF is paid for by consumers and a reduction in the tariff rate has the outsized potential to significantly decrease retail prices of rice products, the CPBRD explained. “The subsidies to rice farmers [...] will be at the expense of consumer welfare. Any effort to limit rice imports or increase tariff rates will likely adversely affect Filipino consumers,” the report read. The CPBRD called for policymakers to conduct a thorough assessment of the RCEF’s usage before pushing through with its extension or expansion, noting the importance of “careful evaluation of the reasons behind the observed volatility of utilization rates and disbursement strategies.”
It also urged lawmakers to be aware of the tradeoff between consumer and producer welfare in deliberations concerning the RTL and the RCEF.
“The desire to lend support to rice farms must be carefully balanced with the interests of the consumers.”
growth, and ensure a prosperous future for all Filipinos,” Balisacan added. Chiz optimistic
SENATE President Francis “Chiz” G. Escudero emerged from his first Ledac meeting expressing confidence in the collaborative efforts among the Senate, the House of Representatives and the Executive Branch.
“Magandangkaranasan [It was a good experience],” Escudero said, reflecting on his first LEDAC meeting presided over by President Ferdinand R. Marcos Jr. in Malacañang on Tuesday.
He emphasized the shared commitment to prioritize essential and meaningful legislation in the remaining 73 session days of the 19th Congress.
Escudero said the Senate will prioritize the passage of six of the remaining 10 priority measures identified by the Ledac, along with three key Senate priority bills, when session resumes next month.
Set for plenary deliberation and approval on final reading in the Senate are the proposed Blue Economy Act, Enterprise-Based Education and Training Framework Act, amendments to the Universal Health Care Act, establishment of the Department of Water Resources, Open Access in Data Transmission Act, and Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy or CREATE MORE.
He also pushed for the inclusion of three Senate priority measures in Ledac’s Common Legislative Agenda (CLA). These are the proposed amendments to the Right-of-Way Act (Republic Act 10752), the Investors’ Lease Act (RA 7652), and the Comprehensive Agrarian Reform Law (RA 6657).
“The amendments to these laws will provide the necessary legal framework to expedite infrastructure projects and attract more foreign investments, thereby creating more jobs and boosting our economy,” Escudero explained.
“Lifting restrictions on agrarian reform lands will also help increase agricultural productivity and improve the lives of our farmers,” he added.
Escudero said further clarification is needed for four Ledac measures: the Waste-to-Energy (Senate Bill No. 2267), the Mandatory Reserve Officers’ Training Corps (SB No. 2034), Unified System of Separation, Retirement, and Pension of Military and Uniformed Personnel (SB No. 2501), and the E-Government Act /E-Governance Act.
According to Escudero, the Senate’s legislative agenda is geared toward inclusive and sustainable development.
“By focusing on these measures, we aim to foster economic resilience, improve public service delivery, and enhance the quality of life for all Filipinos,” Escudero said. Working with the Senate MEANWHILE, Romualdez noted the House has approved 25 of the 28 priority bills. Still pending priorities in the House are the amendments to the Epira, which is currently under study by the technical working group; amendments to the Foreign Investors’ Long-Term Lease Act (no bill has been filed); and amendments to the Agrarian Reform Law, which is also under committee deliberations.
“The House of the People has done its homework. Our accomplishments reflect our proactive stance in catering to the needs of the people by passing this muchneeded legislation that is attuned to the Philippine Development Plan and the 8-point socioeconomic agenda under the Medium-Term Fiscal Framework of the President,” Romualdez said.
“We will await the version of the Senate for possible adoption by the House as an amendment to the House bill or for a bicameral conference committee meeting,” he said.
As of June 25, 2024, the Marcos administration has 64 priority measures, including Ledac bills, Sona priorities, and a common legislative agenda, 13 of which have been enacted into law. With Butch Fernandez and Samuel P. Medenilla
Imee to security officials: Revisit RORE strategies
By Butch Fernandez @butchfBM
HE chairman of the Senate Committee
Ton Foreign Relations on Tuesday urged the Executive Department to closely examine recent events at Ayungin Shoal, where Chinese Coast Guard elements boarded a Philippine vessel, to determine how the Philippine government can better protect Filipino servicemen and citizens during rotation and resupply (RORE) missions.
“There is a need to ascertain as well how the government can improve its strategies to make them more effective and safe while asserting the country’s sovereign rights,” Sen. Imee Marcos said while presiding at a committee hearing on the June 17 face-off at Ayungin, where a Navy sailor was seriously injured after Chinese vessels intercepted a resupply mission to BRPSierra Madre.
“Was it [Ayungin incident] an accident?” Marcos asked Seaman First Class Underwater Operator Jeffrey Facundo, the Filipino sailor whose thumb was severed during the incident. “What was the intention [of the attack], in your personal opinion?” the senator added. Facundo said it was not an accident and that the intention was to prevent Navy personnel
from conducting the RORE mission. President Marcos earlier conferred on Facundo the Order of Lapu-Lapu Rank of Kampilan.
Also at the hearing, National Defense Secretary Gilbert Teodoro stressed the government’s obligation to protect the territorial integrity and sovereignty of the country as enshrined in the Constitution. Queried by Marcos if the Philippine government was “flip-flopping” in its postincident stance in characterizing the June 17 Ayungin encounter, Teodoro said no. He clarified there was no direct conflict between the Palace pronouncements last Friday describing it as a“misunderstanding,” and the earlier position that the DND and the Armed Forces took, when they denounced China’s “aggressive and illegal use of force” as an act that is akin to “piracy.”
Teodoro said that when Executive Secretary Lucas Bersamin said last Friday (June 21) that it was an apparent “misunderstanding” of China’s true intentions—to block the RORE—Bersamin had qualified his statement with “probably.”
Marcos said she did not recall Bersamin saying it was “probably a misunderstanding,” but Teodoro insisted that the former Chief
Justice had been careful in his words and used “probably.”
Meanwhile, Foreign Affairs Secretary Enrique Manalo said his department was looking forward to the next bilateral dialogue with China, and was hoping it could resolve serious issues arising from the June 17 scuffle in the high seas.
Manalo said the Chinese Coast Guard acts were “incomprehensible” and only served to “magnify existing tensions.”
It is clear, the DFA chief said, that many recent incidents are “inconsistent” with the “declared intent” expressed by Chinese leader Xi Jinping during his earlier dialogue with President Marcos.
For her part, Sen. Risa Hontiveros said China had severely violated not only international law but also the Filipinos’ human rights. “This is unacceptable. Violence should not be committed on our seas. We must push for a de-escalation in the West Philippine Sea,” Hontiveros said.
“I call on government to put politics and diplomacy consistently at the captain’s wheel with the Coast Guard and Bureau of Fisheries and Aquatic Resources, fishermen and civilian actions. Let us optimize every legal, political and diplomatic potential to preserve Philippine national interest in the region,” Hontiveros added.
Ombudsman nixes Guo’s lift suspension plea
By Joel R. San Juan @jrsanjuan1573
HE Ombudsman on Tuesday junked
Tthe plea of embattled Bamban, Tarlac, Mayor Alice Guo to immediately lift the six-month preventive suspension order it issued in connection with the complaint filed by the Department of the Interior and Local Government (DILG) over her alleged involvement in the illegal operation of a Philippine offshore gaming operator (Pogo) hub in her town.
In a three-page resolution, the Ombudsman held that it found no compelling reason to set aside the preventive suspension order of Guo and his co-respondents, namely, Bamban’s Business Permit and Licensing Officer (BPLO) Edwin Ocampo and Municipal Legal Officer Adenn Sigua which was issued on May 31.
The Ombudsman maintained its preliminary findings that “there are sufficient grounds to hold that the evidence against the respondents Guo, Ocampo and Sigua is strong at this given time.”
It pointed out the undeniable business interest of Guo in Baufo Land Development Inc., an offshore gaming operations compound
in Bamban, Tarlac, as shown in one of the documents which was seized during the March 13, 2024 raid on the property.
The Ombudsman was referring to the Tarlac Electric Cooperative Inc. Statement of Account dated March 8, 2024 under Guo’s name.
Likewise, the Ombudsman gave weight to the document on record showing that Baofu and Pogo operator Zun Yuan ran their respective business with permits from the BPLO and issued by Guo.
The Ombudsman also said records would show that Sigua knew and had prior acquaintances with Guo since he was the one who notarized each of the Deeds of Absolute Sale covering the eight parcels of land that Guo bought that is now the Baofu compound where Hongshen and Zun Yuan operated.
“It is well to stress that a preventive suspension is not a penalty but is merely preventive measure, a preliminary step in an administrative investigation; the purpose thereof is to prevent the accused from using his witnesses or to tamper with records which may be vital in the prosecution of the case against him,” the Ombudsman said.
“The assailed 31 May 2024 order stands,” it added.
An administrative complaint for grave misconduct, serious dishonesty, gross neglect of duty and conduct prejudicial to the best interest of the service were also filed against Guo, Ocampo and Sigua.
Meanwhile, the Bureau of Immigration also on Tuesday said it has implemented the immigration lookout bulletin order (Ilbo) issued by the Department of Justice (DOJ) against Guo, a certain Guo Hua Ping and 17 others.
Immigration Commissioner Norman Tansingco said the Ilbo was issued by the DOJ on June 21.
An Ilbo is issued by the DOJ for prudence instructing immigration officers to double check if there are any pending arrest warrants against the subjects, any violation or infraction, or to monitor their itineraries and whereabouts should they attempt to leave the country.
The BI said the Ilbo noted that owing to the gravity of charges, the subjects may attempt to elude legal processes by fleeing the country. Thus, the DOJ directed the BI to relay to the department attempts to depart and to obtain information for the proper course of action to be undertaken by immigration officers.
www.businessmirror.com.ph
Economy
Kuwait lifts Filipinos’ travel, worker deployment ban
By Malou Talosig-Bartolome
KUWAIT has decided to lift the ban on the entry of Filipino travelers and workers after more than one year of diplomatic and labor impasse between the two countries.
In a joint statement released Monday night Philippine time, the Kuwait and the Philippine governments said they “finally resolved the issue of resuming the recruitment of Filipino workers to the State of Kuwait” after “extensive discussion” on June 23, 2024.
On one hand, the Philippines will allow the recruitment of domestic workers to Kuwait, but limited only to those “who have previously worked abroad and have work experience abroad.”
A bilateral meeting was held on Sunday afternoon at Seif Palace in Kuwait between the two sides headed by Philippine Migrant Workers Undersecretary Bernard Olalia and Sheikh Fahad Yousef Saud Al-Sabah, Kuwait’s First Vice President of the Cabinet, Minister of Defense and the Minister of Interior.
Both sides also agreed to establish a joint
technical working committee “to address issues related to employment and address all concerns that may arise in the future.”
It can be recalled that the DMW imposed a partial deployment ban of newly hired Filipino domestic workers to Kuwait following the death of Filipino maid Jullebee Ranara. Ranara was killed, burnt and thrown in the middle of the desert in Kuwait in January 2023. The Kuwaiti police immediately arrested the 17-year-old son of her employer and was sentenced to 16 years imprisonment by the Kuwaiti courts.
In retaliation to Philippine deployment ban, Kuwait also imposed a ban on issuance of visas not only to Filipino migrant workers but to all Filipinos, except those who have been previously issued visas.
According to the joint statement, the joint technical working committee shall be composed of the “competent authorities in both countries” and shall meet periodically. The agreement was reached “based on the friendly relations” between Kuwait and the Philippines and the “sincere desire of
MWSS fines Maynilad for poor water quality
FOR delivering poor quality water in some areas in Caloocan City, the Metropolitan Waterworks and Sewerage SystemRegulatory Office (MWSS-RO) announced that it imposed a P2 million fine against West Zone concessionaire Maynilad Water Services Inc. MWSS-RO chief regulator Patrick Ty said the total financial penalty of P2,038,396.50 will be settled by Maynilad in the form of rebates to a total of 3,841 water customers in affected areas in Caloocan City. Each customer will get a rebate of P530.69 starting July, Ty added.
MWSS-RO said the financial penalty was imposed for the water quality failure incident, specifically the failure in Total Coliform at a Regulatory Sampling Point (RSP) supplied by Caloocan Pumping Station and Reservoir (PSR).
Maynilad acknowledged the MWSS decision as it “reaffirmed commitment to quality and customer safety.”
Maynilad said in a statement that the water quality issue was “isolated.”
It added that the penalty will be distributed as rebates in the monthly bills of the
both sides to strengthen bilateral working relations” between the two countries, the joint statement said.
Both governments affirmed their “commitment to the approach and legal frameworks” based on the 2018 bilateral agreement related to the Filipino domestic workers employment in Kuwait.
In reaction to the Philippines-Kuwaiti agreement, a legislator who belongs to a party-list group that advocates for the welfare of overseas workers on Tuesday lauded the Kuwaiti government for lifting its ban, saying that it “signifies a significant development on the labor relations of both countries.”
Rep. Ron P. Salo, the nominee to the House of Representatives of the the party-list group Kabayan, commended the Kuwait government, the Department of Migrant Workers (DMW) led by Secretary Hans Cacdac, and the Philippine Embassy in Kuwait headed by Ambassador Jose Cabrera for addressing the labor concern that has greatly affected both migrant Filipino workers and their Kuwait employers.
specific affected customers.
“We want to assure our customers that these incidents were promptly addressed and resolved. In response, we have implemented enhanced process interventions, including intensified pipe flushing, accelerated pipe replacements, and expedited leak repairs and closure of illegal connections,” the water concessionaire said.
“The health and safety of our customers and the integrity of our water supply remain our top priorities. Maynilad is committed to providing the highest quality water and will continue to take proactive measures to ensure the reliability and safety of our services. We
“We thank His Excellency Fahad and the Kuwait government for opening their doors to Filipinos to be able to work in Kuwait. also thank the DMW led by Secretary Hans Cacdac and the Philippine Embassy officials in Kuwait for ensuring that appropriate measures are in placed that will provide greater protection to our workers while deployed in Kuwait. Such protection will ensure that our OFW’s overseas journey will become worthwhile,” Salo said.
During his sojourn in Kuwait, Salo also visited the shelter established by Kuwait for runaway workers. He was able to talk to most of the 120 workers living in the shelter who are awaiting repatriation to the Philippines. Salo noted that the Filipinos, including 21 children, are taken cared of by the Kuwait government.
Data from the Philippine Embassy in Kuwait reveal that there are now around 245,000 Filipino workers in Kuwait from around 268,000 Filipino workers prior to the ban. Further, 50 percent of the total domestic labor force in Kuwait are Filipinos. Fahad told Salo that all his 18 domestic workers, including nannies of his grandchildren, are all Filipinos. With Jovee Marie N. dela Cruz
also continue to work closely with the MWSS Regulatory Office and the Department of Health in monitoring the quality of the water supply distributed to our customers,” the Maynilad statement said.
Maynilad is the MWSS concessionaire for the West Zone of the Greater Manila Area— composed of the cities of Manila (certain portions), Quezon City (certain portions), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon all in Metro Manila; the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all in Cavite. Jonathan L. Mayuga
CLARK FIELD, Pampanga—The Clark International Airport Corporation (CIAC) is eyeing a modernized National Food Hub project at the civil aviation complex in Clark with the recent signing of a Memorandum of Understanding between the Ciac and global food technology companies Food Starter Philippines, a subsidiary of the Singapore-based Food Starter Pte. Ltd., and World Food Chain Pte. Ltd.
“This most recent MOU advances our efforts
With Perez as signatories to the MOU are Jeremy Nathaniel Gohkongwei, chairman and chief executive officer of the Food Security Pte. Ltd. and World Food Chain Pte. Ltd. group; Chief of Party Juanito Abaquin; Abdolrazagh Mohammadi, chief executive offficer of the Emirates International Holdings Group; and World Food Chain representatives Adam Cheng Tien Fook and Mark Joseph Perez.
“The partnership is the right move at the right time, as it guarantees a modernization of the national food hub, and that we’ll be able to address key challenges in its operation, maintenance and sustainability,” Perez added. Perez said the P8.5-billion 62-hectare Clark National Food Hub project is set on replicating state-of-the-art agro-logistics system of food hubs in advanced Asian countries, raise the standards of food safety and provide better opportunities for the local farmers, fishermen and growers. He added that the MOU will provide technical and advisory assistance on transport, trade and investment, warehousing and storage infrastructure development, and, trade visits to strategic logistics hubs within members of the Association of Southeast Asian Nations (Asean). Early this year, the Ciac secured the nod from the National Economic and Development Authority (Neda) for the project’s inclusion in the Public Investment Program for 2023 to 2028, along with the approval for its Project Development and Monitoring Facility application for project preparation and
Netanyahu’s rejection of truce proposal sparks uproar as war in Gaza continues
By Tia Goldenberg & Samy Magdy The Associated Press
TEL AVIV, Israel—The viability of a US-backed proposal to wind down the 8-monthlong war in Gaza has been cast into doubt after Israeli Prime Minister Benjamin Netanyahu said he would only be willing to agree to a “partial” cease-fire deal that would not end the war, comments that sparked an uproar from families of hostages held by Hamas.
In an interview broadcast late Sunday on Israeli Channel 14, a conservative, pro-Netanyahu station, the Israeli leader said he was “prepared to make a partial deal— this is no secret—that will return to us some of the people,” referring to the roughly 120 hostages still held in the Gaza Strip. “But we are committed to continuing the war after a pause, in order to complete the goal of eliminating Hamas. I’m not willing to give up on that.”
Netanyahu’s comments did not deviate dramatically from what he has said previously about his terms for a deal. But they come at a sensitive time, as Israel and Hamas appear to be moving further apart over the latest cease-fire proposal, and they could represent another setback for mediators trying to end the war.
Netanyahu’s comments stood in sharp contrast to the outlines of the deal detailed late last month by US President Joe Biden, who framed the plan as an Israeli one and which some in Israel refer to as “Netanyahu’s deal.” His remarks could further strain Israel’s ties to the US, its top ally, which launched a major diplomatic push for the latest cease-fire proposal.
The three-phased plan would bring about the release of the remaining hostages in exchange for hundreds of Palestinians imprisoned by Israel. But disputes and mistrust persist between Israel and Hamas over how the deal plays out.
Hamas has insisted it will not release the remaining hostages
unless there’s a permanent ceasefire and a full withdrawal of Israeli forces from Gaza. When Biden announced the latest proposal, he said it included both.
But Netanyahu says Israel is still committed to destroying Hamas’ military and governing capabilities, and ensuring it can never again carry out an October 7-style assault. A full withdrawal of Israeli forces from Gaza, where Hamas’ top leadership and much of its forces are still intact, would almost certainly leave the group in control of the territory and able to rearm.
In the interview, Netanyahu said the current phase of fighting is ending, setting the stage for Israel to send more troops to its northern border to confront the Lebanese militant group Hezbollah, in what could open up a new war front. But he said that didn’t mean the war in Gaza was over.
On Monday, Minister of Defense Yoav Gallant discussed tensions on the border with Lebanon during his trip to Washington with Amos Hochstein, a senior adviser to Biden. He echoed Netanyahu’s comments that the war in Gaza is transitioning to a new phase, which could impact other conflicts, including with Hezbollah.
US Secretary of State Antony Blinken told Gallant that it was critical to avoid escalating the conflict in the Middle East and find a resolution that “allows both Israeli and Lebanese families to return to their homes.”
Israel is close to dismantling the Hamas military brigades in the southern city of Rafah, and maintains “full control” over the Philadelphi Corridor, a strategic buffer zone along Gaza’s border with Egypt, Israel’s military chief Lt. Gen. Herzi Halevi said. Israel says the corridor is awash with tunnels that Hamas uses to smuggle weapons and other goods. Halevi said Israel’s control over the buffer zone will bring an end to that. During the initial six-week phase of the proposed cease-fire,
the sides are supposed to negotiate an agreement on the second phase, which Biden said would include the release of all remaining living hostages including male soldiers and Israel’s full withdrawal from Gaza. The temporary cease-fire would become permanent.
Hamas appears concerned that Israel will resume the war once its most vulnerable hostages are returned. And even if it doesn’t, Israel could make demands in that stage of negotiations that were not part of the initial deal and are unacceptable to Hamas—and then resume the war when Hamas refuses them.
Netanyahu’s remarks reinforced that concern. After they were aired, Hamas said they represented “unmistakable confirmation of his rejection” of the US-supported deal, which also received the backing of the United Nations’ Security Council.
In a statement late Sunday after Netanyahu’s lengthy TV interview, the Palestinian militant group said his position was “in contrast” to what the US administration said Israel had approved. The group said its insistence that any deal should include a permanent cease-fire and the withdrawal of all Israeli forces from the Gaza Strip “was an inevitable necessity to block Netanyahu’s attempts of evasion, deception, and perpetuation of aggression and the war of extermination against our people.”
Netanyahu shot back and in a statement from his office said Hamas opposed a deal. He said Israel would not withdraw from Gaza until all 120 hostages are returned.
Hamas welcomed the broad outline of the US plan but proposed what it said were “amendments.”
During a visit to the region earlier this month, Blinken said some of Hamas’ demands were “workable” and some were not, without elaborating.
Netanyahu and Hamas both have incentives to keep the devastating war going despite the catastrophic toll it has had on civilians
in Gaza and the mounting anger in Israel that the hostages have not been returned and Hamas is not defeated.
The families of hostages have grown increasingly impatient with Netanyahu, seeing his apparent reluctance to move ahead on a deal as tainted by political considerations. A group representing the families condemned Netanyahu’s remarks, which it viewed as an Israeli rejection of the latest ceasefire proposal.
“This is an abandonment of the 120 hostages and a violation of the state’s moral duty toward its citizens,” it said, noting that it held Netanyahu responsible for returning all the captives.
Earlier Sunday, Netanyahu repeated his claim that a “dramatic drop” in arms shipments from the US was hindering the war effort. US State Department spokesman Matthew Miller said Monday that he doesn’t understand Netanyahu’s comments and that Biden has delayed only one shipment of heavy bombs over concerns about heavy civilian casualties.
“There are other weapons that we continue to provide Israel as we have done going back years and years, because we are committed to Israel’s security,” Miller told reporters in Washington. “There has been no change in that.” In its October 7 cross-border assault, Hamas-led militants killed 1,200 people and took 250 people captive, including women, children and older people. Dozens were freed in a temporary cease-fire deal in late November and of the 120 remaining hostages, Israel says about a third are dead.
Israel’s retaliatory war has killed more than 37,000 Palestinians, according to the Health Ministry in the Hamas-ruled territory. It has sparked a humanitarian crisis and displaced most of the territory’s 2.3 million population.
Magdy reported from Cairo. Associated Press reporter Matthew Lee contributed from Washington, D.C.
With another setback for cease-fire talks, worries of full-scale war for Israel and Lebanon escalate
By Abby Sewell & Melanie Lidman The Associated Press
BEIRUT—The prospect of a full-scale war between Israel and Lebanon’s Hezbollah militant group terrifies people on both sides of the border, but some see it as an inevitable fallout from Israel’s ongoing war against Hamas in Gaza, particularly as cease-fire negotiations have faltered.
Such a war could be the most destructive either side has ever experienced.
Israel and Hezbollah each have lessons from their last war, in 2006, a month-long conflict that ended in a draw. They’ve also had nearly nine months to prepare for another war, even as the United States tries to prevent a widening of the conflict that could spark a confrontation with Iran and endanger US forces in the region.
Here’s a look at each side’s preparedness, how war might unfold and what’s being done to prevent it.
What happened in 2006?
THE 2006 war, six years after Israeli forces that had occupied southern Lebanon withdrew, erupted after Hezbollah captured two Israeli soldiers and killed several others in a cross-border raid.
Israel launched a full-scale air and ground offensive and imposed a blockade that aimed to free the hostages and destroy Hezbollah’s military capabilities—a mission that ultimately failed.
Israeli bombing leveled large swaths of south Lebanon and Beirut’s southern suburbs. Hezbollah fired thousands of unguided
rockets into northern Israel communities.
The conflict killed some 1,200 Lebanese, mostly civilians, and 160 Israelis, mostly soldiers.
A United Nations resolution ending the war called for withdrawal of Israeli forces from Lebanon and a demilitarized zone on Lebanon’s side of the border.
Despite the deployment of UN peacekeepers, Hezbollah continues to operate in the border area, while Lebanon says Israel regularly violates its airspace and continues to occupy pockets of Lebanese land.
How probable is war?
AN Israel-Hezbollah war could be “a catastrophe that goes far beyond the border, and frankly, beyond imagination,” UN SecretaryGeneral Antonio Guterres warned last week, amid rising rhetoric and fears of a conflict.
Iran-backed Hezbollah initially seemed caught off-guard by Hamas’ October 7 attack on Israel, a regional ally, but began firing rockets into northern Israel the following day. Since then, Hezbollah and Israel have exchanged near-daily cross-border strikes, escalating gradually. Israel also carried out targeted killings of Hezbollah and Hamas figures in Lebanon.
More than 450 people, mostly fighters with Hezbollah and allied groups but also more than 80 civilians and noncombatants, have been killed on Lebanon’s side, and 16 soldiers and 11 civilians on Israel’s.
Tens of thousands have been displaced on both sides. There are no immediate prospects for their return.
Last week, the Israeli army said it has “approved and validated” plans for an offensive
in Lebanon, although the decision to launch such an operation would have to come from the country’s political leadership.
Hezbollah has released surveillance drone videos showing sites in Israel with the words “Whoever thinks of war against us will regret it.” And the group’s leader, Hassan Nasrallah, has warned of a fight “without limits” if Israel does.
Hezbollah says it won’t agree to a ceasefire on the Israel-Lebanon border before there’s one in Gaza, a prospect that looks increasingly unlikely.
How prepared are they?
BOTH Hezbollah and the Israeli military have expanded capabilities since 2006—yet both countries are also more fragile.
In Lebanon, more than four years of economic crisis have crippled public institutions, including its army and electrical grid, and eroded its health system. The country hosts more than 1 million Syrian refugees.
Lebanon adopted an emergency plan for a war scenario in late October. It projected the forcible displacement of 1 million Lebanese for 45 days.
More than 95,000 Lebanese are displaced from the border area now, according to the International Organization for Migration. The government has said it will compensate those who lost their homes, but it’s unclear where the money will come from.
Hezbollah has provided modest stipends to many of the displaced, but the response has largely fallen to cashstrapped municipalities.
Some have stockpiled supplies such as backup fuel and medical equipment in anticipation of blockades and shortages should war break out.
Israel is feeling economic and social strain from the war in Gaza, which is expected to cost over $50 billion, or about 10 percent of national economic activity through the end of 2024, according to the Bank of Israel. Costs would rise sharply if there’s war with Lebanon.
Israel has evacuated 60,000 residents from towns nearest the border, where there’s no warning time for rocket launches because of the proximity of Hezbollah squads. In a war with Hezbollah, there would be no point in additional evacuations since the militia’s rockets and missiles can reach all of Israel.
How would war play out?
A FULLSCALE war would likely spread to multiple fronts, escalating the involvement of Iranian proxies in Syria, Iraq and Yemen— and perhaps draw in Iran itself. It could also drag the US, Israel’s closest ally, deeper into the conflict.
Hezbollah has 150,000 to 200,000 rockets and missiles of various ranges, said Orna Mizrahi of the Israeli think tank Institute for National Security Studies. This arsenal is at least five times larger than that of Hamas and far more accurate, she said. The militia’s guided projectiles could reach water, electricity or communications
Local and international nongovernmental organizations and religious charities have picked up some of the slack, but their resources are also strained.
www.businessmirror.com.ph
UN launches global principles to fight online hate and demands big tech take action now
By Edith M. Lederer
The Associated Press
UNITED NATIONS—The United Nations chief on Monday launched global principles to combat online hate and lies and demanded that big tech companies use their power to reduce the harm they are doing to people and societies around the world.
Secretary-General António Guterres also demanded that advertising and public relations companies “stop monetizing harmful content” and strengthen information integrity. He urged media outlets “to raise and enforce editorial standards” and governments to commit to creating and maintaining a free and independent media landscape.
Guterres said the principles, laid out at a news conference, are the result of consultations with the 193 UN member nations, youth leaders, academia, the media and civil society including
tech companies.
The principles call on tech companies, advertisers, media and other key players to refrain from using, supporting or amplifying disinformation and hate speech.
All parties involved in the development of artificial intelligence should take urgent and transparent measures to ensure that all AI applications are designed, deployed and used safely, securely, responsibly and ethically, and uphold human rights, according to the principles.
They also call for tech companies to ensure safety and privacy and allow users greater choices and control over their online experience and personal data, and for all key parties to ensure special protections for children.
Guterres stressed that big tech companies have “an outsized responsibility.”
“Take responsibility,” he demanded.
“Acknowledge the damage your products are inflicting on people and communities.”
China’s premier calls for open markets and green tech to stabilize global growth, warns against trade tensions
By Simina Mistreanu The Associated Press
TAIPEI, Taiwan—Open markets and green technologies are vital for stabilizing global growth, China’s premier said Tuesday, while criticizing trade tensions as he opened a conference in northeastern China.
Premier Li Qiang told political and business leaders attending the World Economic Forum Annual Meeting of the New Champions, also known as the “Summer Davos,” that China is on track to attain Beijing’s growth target this year of 5 percent.
Countries should “work closely together, reject bloc confrontation, oppose decoupling and disconnection, maintain the stability and smoothness of industrial and supply chains, and promote trade and investment liberalization and facilitation,” Li said in a speech to the conference.
“We cannot slow down our pace in green transition in exchange for short-term economic growth nor practice protectionism in the name of green development or environmental protection,” he said.
China is facing pushback over its electric vehicle exports, which some governments fear will flood markets and hurt domestic producers.
The European Union and Canada among others are mulling surtaxes on Chinese EVs.
China and the E.U. said over the weekend they are open to talks over the tentative tariffs after Beijing last week announced an anti-dumping probe into European pork, largely seen as retaliation for the EV duties.
Polish President Andrzej Duda and Vietnamese Prime Minister Pham Minh Chinh joined the business leaders and economic and technology ministers attending the forum, held in the port city of Dalian.
China’s economy grew at a 5.3 percent annual pace in January-March, though it has slowed significantly in recent years. Shutdowns and other disruptions from the Covid-19 pandemic worsened a longer-term weakening of growth as authorities cracked down on excess borrowing by property developers, tipping the industry into a downturn.
Li compared China’s economy post-Covid to a person recovering from a serious illness who needs to readjust gradually. Beijing is aiding the recovery with tools such as industrial upgrades and support for the “silver economy”—businesses aimed at the country’s ageing population—he said.
The Associated Press video producer Caroline Chen in Beijing contributed to this report.
Indonesia won’t pay $8 million ransom after cyber attack compromised national data center
By Niniek Karmini The Associated Press
JAKARTA, Indonesia—Indonesia’s national data center has been compromised by a hacking group asking for $8 million ransom that the government says it won’t pay.
The cyber attack has disrupted services of more than 200 government agencies at both the national and regional levels since last Thursday, said Samuel Abrijani Pangerapan, the director general of informatics applications with the Communications and Informatics Ministry.
Some government services have returned— immigration services at airports and elsewhere are now functional—but efforts continue at restoring other services such as investment licensing, Pangerapan told reporters Monday.
The attackers have held data hostage and offered a key for access in return for the $8 million ransom, said PT Telkom Indonesia’s director of network & IT solutions, Herlan Wijanarko, without giving further details.
Continued from A
facilities, and densely populated residential areas.
In Lebanon, airstrikes would likely wreak havoc on infrastructure and potentially kill thousands.
Israeli Prime Minister Benjamin Netanyahu has threatened to “turn Beirut into Gaza,” where Israel’s air and ground incursion has caused widespread destruction and killed more than 37,000 Palestinians, according to Gaza’s Health Ministry.
Israel is far more protected, with several air defense systems, including the Iron Dome, which intercepts rockets with a roughly 90 percent success rate. But it can get overwhelmed if a mass barrage of rockets is fired.
Some 40 percent of Israel’s population live in newer homes with private safe rooms fortified
Guterres demanded that the companies take action.
“You have the power to mitigate harm to people and societies around the world,” he said, “You have the power to change business models that profit from disinformation and hate.”
As for advertisers and the PR industry, the UN chief singled out the coordinated disinformation campaigns seeking to undermine action to address the climate crisis.
“Creatives—don’t use your talents to greenwash,” Guterres said. “PR agencies—look for clients who aren’t
Wijanarko said the company, in collaboration with authorities at home and abroad, is investigating and trying to break the encryption that made data inaccessible.
Communication and Informatics Minister Budi Arie Setiadi told journalists that the government won’t pay the ransom.
“We have tried our best to carry out recovery while the (National Cyber and Crypto Agency) is currently carrying out forensics,” Setiadi added.
The head of that agency, Hinsa Siburian, said they had detected samples of the Lockbit 3.0 ransomware.
Pratama Persadha, Indonesia’s Cybersecurity Research Institute chairman, said the current cyber attack was the most severe in a series of ransomware attacks that have hit Indonesian government agencies and companies since 2017.
“The disruption to the national data center and days-long needed to recover the system means this ransomware attack was extraordinary,” Persadha said. “It shows that our cyber infrastructure and its server systems were not being handled well.”
with blast protection to withstand rocket attacks.
Israel also has a network of bomb shelters, but a 2020 government report says about one-third of Israelis lack easy access to them.
Lebanon has no such network, and shelters would be of little use against massive “bunker buster” bombs Israel has dropped in some parts of Gaza. The US has halted some shipments of those bombs since May out of concern over civilian casualties.
Hezbollah has limited air defenses, while those of the Lebanese army are outdated and insufficient because of budget shortfalls.
The Lebanese army has remained on the sidelines since October 7. In 2006, it entered fighting in a limited capacity, but it’s unclear how it would react in the event of a new IsraelHezbollah war.
Lidman reported from Tel Aviv, Israel.
misleading people and destroying our planet.”
He called on the media to provide “quality journalism based on facts and reality” and find advertisers that are part of the solution, not the problem. And he urged governments to protect journalists, uphold human rights, refrain from Internet shutdowns and other drastic measures and respect the right to freedom of expression and opinion.
Guterres said all countries should have a vested interest in not promoting misinformation, “because sooner or later the truth is discovered.”
He stressed that the principles “aim to empower people to demand their rights.”
“No one should be at the mercy of an algorithm they don’t control, which was not designed to safeguard their interests, and tracks their behavior to collect personal data and keep them hooked,” he said.
Guterres, when asked how the UN can ensure that tech companies and advertising and PR agencies take the UN principles to heart and take action, pointed to their staff who are parents, citizens and “are interested in ‘do no harm.’”
Deadly weekend of mass shootings across US as gun violence surges
THE
By John Seewer & Sharon Johnson
The Associated Press
first weekend of summer brought a tragic yet familiar pattern for American cities wracked by gun violence as mass shootings left dozens dead or wounded at a party in Alabama, an entertainment district in Ohio and a grocery store in Arkansas.
It was the second straight weekend that saw an outbreak of mass shootings across the US, prompting mayors in places marred by the violence to plead for help.
In Michigan, a deputy was fatally shot while pursuing a suspected stolen vehicle in what the county sheriff described as an ambush.
A Philadelphia police officer was critically wounded Saturday after pulling over a car with four people.
Police in Montgomery, Alabama, said hundreds of rounds were fired at a crowded party early Sunday, leaving nine people wounded. Interim Police Chief John Hall said investigators recovered more than 350 different spent shell casings.
WikiLeaks
founder Assange will plead guilty in deal with US that will allow him
By Alanna Durkin Richer & Eric Tucker The Associated Press
WASHINGTON—WikiLeaks founder Julian Assange will plead guilty to a felony charge in a deal with the US Justice Department that will allow him to walk free and resolve a long-running legal saga that spanned multiple continents and centered on the publication of a trove of classified documents.
Assange left a British prison on Monday and will appear later this week in the US federal court in the Northern Mariana Islands, a US commonwealth in the Western Pacific. He’s expected to plead guilty to an Espionage Act charge of conspiring to unlawfully obtain and disseminate classified national defense information, the Justice Department said in a letter filed in court.
to walk free
by us, fought for us, and remained utterly committed in the fight for his freedom.”
“WikiLeaks published groundbreaking stories of government corruption and human rights abuses, holding the powerful accountable for their actions. As editorin-chief, Julian paid severely for these principles, and for the people’s right to know,” WikiLeaks said.
The deal ensures that Assange will admit guilt while also sparing him from any additional prison time. He had spent years hiding out in the Ecuadorian embassy in Londonafter Swedish authorities sought his arrest on rape allegations before being locked up in the United Kingdom.
One reason for so many shootings with multiple victims is the increased use of modified guns that can spray hundreds of shots, said Jillian Snider, a lecturer at John Jay College of Criminal Justice in New York.
“That’s why you’re seeing more victims that are not even involved in the initial confrontation,” she said.
Gunfire broke out early Sunday on the main street of a popular restaurant and entertainment district near downtown Columbus, Ohio.
“This senseless violence just has to stop,” said Montgomery Mayor Steven Reed, who called it a blessing that no one died while also asking for help in keeping guns out of the hands of criminals.
Ten people were injured, one in critical condition, leading the city’s mayor to call for more action from state and federal governments to keep guns off the streets and for parents to watch their children. Mayor Andrew Ginther said the gun violence “is outrageous, it’s unacceptable, and it must stop.”
FBI statistics show overall violent crime in the US has dropped after a pandemic-era spike but it might not feel that way to most people in the wake of these recent shootings, said University of Miami criminologist Alex Piquero. Summertime always brings a rise in violence because school is out, there are more social gatherings and warmer temperatures can cause tempers to flare, he said. “That creates that kind of opportune structure for violence to occur,” Piquero said.
Several of the shootings this past weekend happened at large parties. Police in Dayton, Ohio, said a 22-year-old woman was killed and six people were injured
early Monday, after a drive-by shooting at a vacant house where a big crowd had gathered.
Six people were wounded early Sunday at a park in Rochester, New York, after police said at least one person started shooting into a crowd. Elsewhere early Sunday, one man was killed and five others were wounded early in a downtown St. Louis shooting that police believe began when a fight broke out between several women and men stepped in with firearms.
The weekend of mass shootings began Friday in the small city of Fordyce, Arkansas, where four people were killed and another 11 injured—including the alleged gunman. The gunfire sent shoppers and store employees ducking for cover. Among those killed was a 23-year-old new mom. (Seewer reported from Toledo, Ohio, and Johnson reported from Atlanta.
The Associated Press writer Kimberly Chandler in Montgomery, Alabama, contributed to this report.
The guilty plea, which must be approved by a judge, brings an abrupt conclusion to a criminal case of international intrigue and to the US government’s years-long pursuit of a publisher whose hugely popular secretsharing website made him a cause célèbre among many press freedom advocates who said he acted as a journalist to expose US military wrongdoing. Investigators, by contrast, have repeatedly asserted that his actions broke laws meant to protect sensitive information and put the country’s national security at risk.
He is expected to return to his home country of Australia after his plea and sentencing, which is scheduled for Wednesday morning, local time in Saipan, the largest island in the Northern Mariana Islands. The hearing is taking place there because of Assange’s opposition to traveling to the continental US and the court’s proximity to Australia, prosecutors said.
Attorneys for Assange didn’t immediately respond to a request for comment on Monday.
In a statement posted on X, WikiLeaks said Assange boarded a plane and departed the United Kingdom on Monday after leaving the British prison, where he has spent the last five years. WikiLeaks applauded the announcement of the deal, saying it was grateful for “all who stood
Assange is expected to be sentenced to the five years he has already spent in the high-security British prison while fighting to avoid extradition to the US to face charges, a process that has played out in a series of hearings in London. Last month, he won the right to appeal an extradition order after his lawyers argued that the US government provided “blatantly inadequate” assurances that he would have the same free speech protections as an American citizen if extradited from Britain.
Assange has been heralded by many around the world as a hero who brought to light military wrongdoing in Iraq and Afghanistan. Among the files published by WikiLeaks was a video of a 2007 Apache helicopter attack by American forces in Baghdad that killed 11 people, including two Reuters journalists. But his reputation was also tarnished by rape allegations, which he has denied.
The Justice Department’s indictment unsealed in 2019 accused Assange of encouraging and helping US Army intelligence analyst Chelsea Manning steal diplomatic cables and military files that WikiLeaks published in 2010. Prosecutors had accused Assange of damaging national security by publishing documents that harmed the US and its allies and aided its adversaries.
Tucker reported from Fort Pierce, Florida. Associated Press writer Colleen Long in Washington contributed to this report.
This week’s televised debate crucial for Biden and Trump–and for CNN
By David Bauder Ap Media Writer
NEW YORK—Joe Biden and Donald Trump won’t be alone at Thursday’s debate. Moderators Dana Bash and Jake Tapper of CNN will be on camera, too, and there’s a lot on the line for their network as it fights for relevance in a changing media environment.
CNN has hosted dozens of town halls and political forums through the years, but never a general election presidential debate, let alone one so early in a campaign. No network has.
“This is a huge moment for CNN,” said former CNN Washington bureau chief Frank Sesno, now a media and public affairs professor at George Washington University. “CNN has to reassert itself. It has to show that it led a revolution in news before and can do it again.”
As a television network, CNN is struggling at a time many consumers are cutting off cable and most news outlets wonder if the campaign will ignite consumer interest.
Those that remain have expressed a clear preference for opinion programming. Fox News Channel has averaged 2.14 million viewers in prime time this month, with MSNBC at 1.22 million and CNN at 525,000, according to the Nielsen company. That’s down 17 percent from last June for CNN.
CNN’s chairman and CEO, Mark Thompson, has been with the company for less than a year and has spoken more about the Internet than television as an opportunity for growth. Yet it means something that both campaigns chose CNN for the first debate. A well-run, illuminating event can open some eyes and remind people of CNN’s legacy as the first all-news television network. If it goes off the rails, that’s a stain that could take years to wash away.
“This is a hugely consequential moment in this campaign,” said David Chalian, CNN’s vice president and political director.
“It’s the earliest presidential debate ever. It’s obviously a huge privilege and a huge responsibility for CNN to host it.”
Looking hard for more viewers
IT’S possible—even likely—that CNN won’t even have the biggest American audience on Thursday.
Choosing public service over pure profit, CNN offered to let other networks carry the debate feed; ABC, CBS, NBC, Fox News Channel, MSNBC, PBS and C-SPAN will all do so. The other networks also have the right to sell their own ad time during the two commercial breaks.
The networks had to agree to CNN’s rules—they must keep CNN’s insignia onscreen and can’t interrupt with their own commentators while the debate airs. Internationally, only CNN is carrying it. The event, in an Atlanta studio, won’t have a live audience. That was important to the Biden campaign but also to CNN. The network’s town hall with Trump in 2023 was panned in large part because of the presence of Trump partisans.
CNN will also control a mute button, to turn a candidate’s microphone off when his
opponent is talking. That’s also reactive; Biden and many viewers were frustrated by Trump’s frequent interruptions during the first of two debates between them in 2020.
When he conducted an unscientific poll among listeners to his SiriusXM radio show, Michael Smerconish said that 90 percent were in favor of the “mute” button. But Smerconish, who also hosts a weekend show on CNN, counts himself among the 10 percent who don’t like the idea.
“You run the risk that the debate will become an antiseptic experience,” missing some good give-and-take, Smerconish said in an interview with The Associated Press.
Stay tuned, though. Chalian, who would not say who would be in control of the mute button, said an opponent’s voice may still be picked up if he pipes up. It just won’t be the dominant voice.
The network will not attempt to factcheck the candidates in real time, he said.
“Obviously, if there is some egregious fact that needs to be checked or the record needs to be made clear, Jake and Dana can do that,” he said. “But that’s not their role. They are not here to participate in this debate. They are here to facilitate a debate between Trump and Biden.”
Will CNN offer a fair forum?
WELL before the debate, Trump and his supporters have been putting forward the notion that because of CNN’s presence, it won’t be a fair fight. At a campaign rally where he denounced “fake Tapper,” Trump said that he would be debating three people instead of one—even though his campaign agreed in advance to the rules and moderators.
On CNN Monday, the network’s Kasie Hunt cut off an interview with Trump press aide Karoline Leavitt after she repeatedly attacked the moderators.
“Our side has zero expectations that this is going to be a fair debate,” said Tim Graham, director of media analysis at the conservative Media Research Center. “When you watch Tapper and Bash anchor, you get the distinct impression that you’re not going to get a fair debate.” What Graham will be watching for: How many times will the moderators interrupt Trump and how many times do they stop Biden?
To a large extent, the attitude speaks to how CNN is boxed in commercially. Egged on by Trump, many of his supporters perceive CNN as biased against them, not as a network that follows the facts. And if you oppose Trump and want to see your view reflected, MSNBC is a more satisfying destination.
“Our job is simply to make sure that we are best prepared to facilitate and moderate the debate between the candidates,” Chalian said. “That is our focus. I really try not to pay too much attention to the pre-spin or post-spin. I’m really focused on the debate itself.” Days before the event, a keep-yourhead-down-and-work attitude seems to be how he’s dealing with a pressure-filled event that could choke you if you let it. “Let’s be clear,” he said. “The stakes are highest for Donald Trump and Joe
They’re
participants
MOURNERS gather for a candlelight vigil in the parking lot of the Mad Butcher grocery store in honor of the victims of Friday’s mass shooting in Fordyce, Ark., Sunday, June 23, 2024. COLIN MURPHEY/ARKANSAS DEMOCRATGAZETTE VIA AP
Biden.
the
in this debate.”
CNN anchors Jake Tapper, left, and Dana Bash, right, speaking to members of the audience before the start of the CNN Republican presidential debate in Des Moines, Iowa on January 10, 2024. Joe Biden and Donald Trump won’t be alone at the debate Thursday, June 27. Moderators Bash and Tapper of CNN will be on camera, too, and there’s a lot on the line for their network as it fights for relevance in a changing media environment. AP/ANDREW HARNIK
SC affirms junking of raps vs Army officers for failing to secure Maguindanao victims
By Joel R. San Juan @jrsanjuan1573
THE Supreme Court has affirmed the dismissal by the Office of the Ombudsman of the graft complaint filed against two high-ranking Army officials by several widows and relatives of the 32 journalists killed in the Maguindanao massacre on November 23, 2009.
In a 40-page ruling written by Associate Justice Marvic Leonen and made public on Tuesday, the Court’s Second Division held that there was no grave abuse of discretion on the part of the Ombudsman in issuing its June 22, 2011 Joint Resolution and October 4, 2012 Joint Order dismissing the complaint against Maj. Gen. Alfredo Cayton Jr. and Col. Medardo Geslani.
The petitioners are relatives of the journalists ambushed while on their
PCA: Rising demand to boost coco oil
Texports
HE Philippine Coconut Authority (PCA) expects a slight increase in coconut oil exports this year due to an increase in demand despite the ill effects of El Niño on production.
“ Yung ating oil ngayon ay nagagamit na sa biodiesel at yung aviation fuel malapit na [Our oil now is being used in biodiesel, and we’re close to doing the same for aviation fuel],” PCA Administrator Dexter Buted told reporters on Tuesday.
He noted that El Niño affected coconut production, particularly since the dry spell delayed and stunted the coconuts’ growth.
Buted also pointed out the coconut’s resilience from the possible effects of La Niña.
“Kahit bagyuhin iyan, bubunga pa rin iyan [Even if it’s hit by storm, it will still bear fruit]...we’re confident that with all regions where coconut trees are standing, we’re confident that we can raise our yield even more,” he said.
Despite the weather disturbances, Buted sees coconut production posting an uptick by 3 to 5 percent this year.
Figures from the Philippine Statistics Authority (PSA) showed that receipts from coconut oil, the Philippines’s top agriculture export, registered the biggest decline at 44.2 percent last year.
The value of coconut exports, including crude and refined, reached $1.172 billion in 2023 compared with the previous year’s $2.1 billion.
Data from the World Bank showed that coconut oil from January to December last year averaged $1,075 per metric ton (MT), lower than the $1,635 per MT recorded in 2022.
In the fourth quarter of 2023 alone, coconut oil averaged $1,090 per MT, down from the previous year’s $1,147 per MT.
Meanwhile, Buted said the agency asked the government for P2.4 billion for their fertilization budget.
“Kasi iyong ating fertilization ay 1 percent lang sa buong 340 million coconut trees ang naibibigay na budget [...] sa ganun ay aalis na tayo diyan sa one percent na fertilization budget, aakyat naman tayo sa 15 percent. [In our fertilization, only 1 percent of the budget for the entire 340 million coconut trees has been provided. We need to move beyond that 1-percent frtilization budget, we should go up to 15 percent],” he said. Ada Pelonia
way to cover the filing of the certificate of candidacy for Maguindanao governor of then Buluan Vice Mayor Esmael Mangudadatu in 2009. Cayton was then the commander of the Army’s 6th Infantry “Kampilan” Division that has jurisdiction over Maguindanao and the 601st Infantry Brigade, where Geslani was the brigade commander.
The petitioners accused the two Army officials of violating Section 3 (e) and (f), of Republic Act 3019 otherwise known as the Anti-Graft and Corrupt Practices Act and Dereliction of Duty. They argued that the respondents failed to protect the journalists who joined the Mangudadatu convoy and acted “with manifest partiality, evident bad faith, or gross inexcusable neglect.”
The petitioners accused Geslan of partiality toward the Ampatuans since he had not refused to provide
them with security escorts allegedly as part of the government’s fight against threat groups.
Cayton’s manifest partiality, according to the petitioners, was shown when he extended military security escort to then candidate Mayor Andal Ampatuan Jr. while refusing to do the same to the Mangundadatu convoy.
The petitioners insisted that the two Army officials failed to secure the mediamen despite requests made by Mangudadatu’s camp and some journalists prior to the bloody incident.
They added that the respondents had prior knowledge about the impending grave threat to Mangudadatu’s convoy based on reports from their operatives and in consideration of the long-existing feud between the opposing camps.
However, the Court held that the Ombudsman did not err when
it ruled that the petitioners failed to provide evidence to show the presence of the elements of Section 3 (e) and (f), of RA 3019.
The Court explained that provision of security escorts by the Armed Forces to candidates is explicitly prohibited in the relevant memorandum of agreement between the Department of National Defense (DND) and the Commission on Elections.
It also did not give weight to the petitioners’ claim that the Amended Implementing Guidelines, Rules, and Regulations to the Memorandum of Agreement provides for an exception in cases of “exigency” to the prohibition in the deployment of security troops for candidates.
The SC pointed out that this exception covers only “members of the Board of Election Inspectors, personnel of the Comelec and other employees of the government performing election duties.”
“Moreover, it is within the Office of the Ombudsman’s discretion to evaluate the evidence submitted before it during preliminary investigation. Here, no grave abuse of discretion can be attributed to it since it pondered upon alI available evidence of the parties before concluding that no probable cause exists against private respondents,” the SC said.
“All told, we refuse to deviate from the long-standing rule on noninterference with the Office of the Ombudsman’s determination of probable cause,” the SC added.
The Court, however, did not dwell on the petitioners’ claim that the two Army officials should have acceded to the request for security escorts because it was not only Mangudadatu who asked for it, but also the journalists whom the private respondents allegedly have the duty to protect.
The SC noted that Cayton has
denied the petitioners’ claim, insisting that there was neither any member from the media nor any civilian, who asked for military escorts.
The Court held that these contradicting claims of the parties “is a question of fact, requiring the determination of whether the journalists really requested for security escort.”
“This Court is not a trier of facts, more so in the extraordinary writ of certiorari where neither questions of fact nor even of law are entertained, but only questions of lack of jurisdiction or grave abuse of discretion can be raised,” the SC declared.
“Hence, we delve on the core of the controversy that emanated from Vice Mayor Mangudadatu’s request for security escorts, an account undisputed by both parties and to which the assailed rulings of the Office of the Ombudsman were based,” it added.
Neda Board okays PHL digital infra project to boost connectivity
By Andrea E. San Juan @andreasanjuan
THE National Economic and Development Authority (Neda) Board on Tuesday approved a flagship infrastructure project intended to “boost” broadband connectivity nationwide, particularly in remote areas, and strengthen cybersecurity.
During its 18th meeting at Malacañang on Tuesday, the Neda Board gave the green light to the Philippine Digital Infrastructure Project (PDIP) and approved adjustments to the parameters of nine other ongoing projects.
With a budget of P16.1 billion
financed through Official Development Assistance from the World Bank, Neda said in a statement on Tuesday night, “The PDIP is set to enhance the country’s broadband connectivity and bring high speed internet connection even in disadvantaged areas, augment digital infrastructure to bridge the digital divide, stimulate private sector investments, and strengthen capacity for cybersecurity and for protecting critical information infrastructure.”
Socioeconomic Planning Secretary Arsenio M. Balisacan, who also serves
as the NEDA Board Vice Chairperson, highlighted the “transformative potential” of the project.
“Broadband services have already opened up numerous opportunities for Filipinos, from work-fromhome arrangements to digital access to critical public and private services, including the latest technological tools such as artificial intelligence,” Balisacan said.
“This project will enable us to connect more Filipinos to markets and networks, spurring economic development,” he added.
In addition to the PDIP, the Neda Board, chaired by President Ferdinand R. Marcos Jr., approved “adjustments” to various parameters of nine ongoing infrastructure projects, seven of which are part of the Infrastructure Flagship Projects list.
The changes pertain to project scope, cost, and extension of implementation period and loan validity.
According to Neda, these projects include the following: Local Governance Reform Project, Infrastructure Preparation and Innovation Facility, New Cebu International
Napocor unveils 3 power projects in Catanduanes
By Lenie Lectura @llectura
STATE-OWNED National Power Corporation (Napocor) on Tuesday inaugurated a transmission line, a substation, and a solardiesel hybrid power system in Catanduanes, boosting the reliability and power dispatch in the island province. The 23-circuit kilometer San Miguel to Viga 69 kiloVolt (kV) transmission line and the fiveMegaVolt ampere (MVA) Viga substation are meant to enhance the delivery of electricity in the northern part of the province.
“Equipped with the latest technology, the Viga substation will significantly boost the grid’s capacity and pave the way for new power resources,” said Napocor Vice President for Small Power Utilities Group (SPUG) Rene Barruela. Napocor emphasized that these projects will strengthen the province’s resilience against power disruptions. At the same time, the local grid could accommodate future growth in energy demand once these projects are operational.
The 30 kiloWatt peak (kWp) Palumbanes Island solar PV hybrid system, meanwhile, offers a sustainable energy solution for over 200 households in the off-grid area. The project also aims to lower the island’s dependence on diesel and gradually decrease fuel costs.
The state firm has lined up more hybrid projects in RapuRapu, Albay; Palanan in Isabela, and Cuaming in Bohol.
“We aim to also inaugurate these facilities this year for the corporation to reap the benefits of sustainable and clean energy solutions,” said Napocor Vice President for Power Engineering Services Atty. Rogel Teves.
Napocor, under Republic Act 9136 or the Electric Power Industry Reform Act of 2001, is mandated to bring electricity and associated power delivery systems to areas and communities not connected to the main grid. Currently, it operates 281 SPUG plants in the farthest islands and communities in the archipelago and manages the transmission systems of island provinces such as Palawan, Catanduanes, Masbate, Marinduque and Mindoro.
Container Port Project, Light Rail Transit Line 1 South Extension Project, Malolos-Clark Railway Project, Tranche 1, Metro Manila Flood Management Project, Phase 1, Reconstruction and Development
Plan for a Greater Marawi, Stage 2, Improving Growth Corridors in Mindanao Road Sector Project and the Panguil Bay Bridge Project. Balisacan said the adjustments to these ongoing infrastructure projects
were “necessary to ensure their successful completion,” adding that these will advance national efforts to expand and upgrade the country’s infrastructure, improve connectivity and create more jobs.
Editor: Angel R. Calso
How soaring temperatures, Russia’s war on Ukraine and China’s export restrictions threaten
PHL food security
NEW temperature records were broken in the United States and European countries in 2022. The severe heatwaves and prolonged drought experienced in several wealthy nations that year exacerbated the economic and humanitarian consequences stemming from Russia’s military assault on Ukraine. Aside from extreme heat, the conflict in Eastern Europe sent commodity prices to record levels two years ago. (See, “Global food prices in 2022 hit record high amid drought, war,” in the BusinessMirror, January 9, 2023).
Several commod ities that are v ital to the Phi lippines became more expensive in 2022. Data f rom the World Bank showed that Russia’s attack on Uk raine resu lted in more expensive coal, Dubai crude, natural gas, wheat, palm oi l, soybean oi l, and fer ti lizer T he average price of coal f rom Australia, for one, almost doubled to $344.9 per metric ton in 2022, f rom the prev ious year’s $138.1/MT.
T he spikes in energy prices meant that in countries like the Phi lippines, which rely heav i ly on impor ted oi l, factories saw their expenses sky rocket in 2022. T he war between the two Easter n European countries d isrupted the flow of trade in the reg ion, which contributed to the cost of goods being impor ted by the Phi lippines. More impor tantly, expensive fer ti lizer had made it d iff icu lt for local food producers to keep food costs stable.
Based on data f rom the World Bank, the average price of Easter n Europe urea in 2022 jumped to $700 per MT, f rom the prev ious year’s $483.2/MT. T he average price of DA P shot up to $772.2 per MT, f rom $601/MT recorded in 2021. T hese f ig ures translated to more expensive fer ti lizer g rades for far mers and put pressure on local food prices. W hi le fer ti lizer prices have declined f rom the levels seen in 2022, they remain elevated and cou ld even rise again in the coming weeks as Bloomberg repor ted that China has f ur ther restricted fer ti lizer expor ts. Beijing, accord ing to the repor t, wanted to contain domestic prices, cut far ming costs and bolster g rain security. Earlier this month, China imposed curbs on urea, a nitrogen-based fer ti lizer, and phosphates.
As recently as 2020, China was the world’s second-biggest fer ti lizer expor ter after Russia, accord ing to the Bloomberg repor t. Beijing was forced to limit sales after Moscow’s invasion of Uk raine and it has period ically relaxed and tightened the restrictions. Last year, China was sti ll the world’s top supplier of both urea and phosphate. This development is particularly worrisome for countries like the Philippines that rely heavily on imported fertilizers. Increases in international prices would naturally be passed on to importing countries and eventually to domestic producers and consumers. China’s decision could make it more difficult for the Philippines to keep food affordable.
T he f u ll implementation of Republic Act 10068 or the Organic Ag ricu lture Act of 2010 cou ld have shielded the Phi lippines f rom record-shattering fer ti lizer prices seen in 2022. Gover nment shou ld push for other means of increasing the productiv ity of the countr y’s far ms. As extreme weather events are becoming more f requent and the peso is weaker, reducing the countr y’s reliance on impor ted ferti lizers has become imperative.
Fine-tuning PHL infrastructure
ITHE BUILDER
’VE written several pieces here about the role of infrastructure projects on nation building. And I will continue to do so to stress their importance in generating jobs, producing livelihoods and creating a competitive economy.
T he i mplement i ng g uidel i nes of Exec ut ive O rder No. 59 on “St reaml i n i ng t he Per m itt i ng Process for Inf r ast ru ct ure Flags hi p Pr o j ects (IFPs),” released by t he Nat ional Econom i c and Development A ut hority (Neda) and t he Ant i-Red Tape Aut hority (ARTA) last week, a re anot her step to speed i ng up t he const ruct ion of v ital i nf rast ruct ure projects.
Much of t he delays in bui ld ing inf ra projects are in t he pre-construction stage. Such delays, I believe, have become systemic and are, perhaps, bor ne by t he lack of appreciation on and apat hy of some gover nment off icials and cer ta in sectors toward inf ra projects.
T he EO 59 g uidelines, thus, aim to add ress and el iminate unnecessar y delays in t he issuance of l icenses, clea rances, per m its, cer t if icat ions
or authorization to ensure the timely completion of IFPs. T he g uidel ines added teet h to t he enforceabi l ity of EO 59. T hey specif ically apply to national gover nment agencies, gover nment-owned and /or -controlled co r po r at i ons, ot h e r gove r nment instrumental ities and local gover nment units involved in t he issuance of such documents.
National Economic and Development Aut hority Secretar y A rsenio Bal isacan, t he chief economic planner of President Ferd inand Marcos Jr., is naturally pumped-up over t he release of t he g uidel ines.
M r Bal i sacan cons i de r ed t h e streaml ined process under EO 59 a signif icant stride toward enhancing t he count r y’s investment cl imate, improv ing the ease of doing business and strengthening the countr y’s economic foundation.
“Fast-t r ack i ng o ur ma j o r cap ital p r o j ects i s c ru c i al becau se we seek to catc h u p w it h o ur dynam i c ne i g h bor s i n t he reg ion and real i ze t
n it i es s u c h p
o j ects w i ll b ri ng. We hope to c r eate t h e enabl i ng cond it i ons fo r hi g h - qu al ity j ob c r eat i on fo r t ho u sands of F i l i p i nos,” says Bal i sacan. Fi n i shi ng t hese c rit ical i nf r ast ruct ure projects on t i me, as I’ve sa id before, w i ll en h ance reg ional connect iv ity and l i nk lead i ng and lagg i ng r eg i ons i n t h e co u nt r y. T hey w i ll def i n itely ra i se t he compet it iveness of our local i ndu st ries and, more i mpor tantly, lead to i nclu sive g rowt h I ag ree w it h t he obser vation of our c hief econom ic planner —t he nat ion’s compet it iveness w it h t he rest of t he world is at stake insofar as inf rastructure is concer ned.
T he Phi l ippines is not t he only nation t hat is racing to complete inf rastructure projects. T he US and ot her developed nations, as well as our neighbors in Asia, are rushing to bui ld mega projects, such as roads, a ir por ts, bridges and seapor ts, t hat w i ll g ive t hem an edge in trade and economic compet ition.
We don’t h ave to rem i nd ourselves of t he consequences i f we compete last i n t he i nf rast ruct ure race. A poor i nf rast ruct ure network i s a factor t h at l i m its econom ic out-
put and ra i ses t he cost of products and ser v ices. An i neff ic ient t ranspor tat ion system and t raff ic jams, for one, w i ll add to t he f i nal cost of a product. ARTA Secretar y Er nesto Perez, meanwhi le, cites t he signif icance of doing away w it h red tape to ensure t he eff icient and effective completion
www.news.businessmirror@gmail.com Printed by BROWN MADONNA Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila Ambassador Antonio L. Cabangon Chua Founder
BBy Isabella Ward
RITISH chipmakers warn that a UK crackdown on immigration is hobbling the sector’s ability to compete globally because of increased barriers to hiring foreign talent. Moreover, they expect those roadblocks to persist whoever wins next week’s general election.
Bot h Prime Minister R ishi Sunak’s Conser vatives and Keir Star mer’s poll-lead ing Labour Par ty have pledged to slash net migration should they w in power on July 4. T hat stance f rustrates semiconductor company bosses who already compla
sa id Rodney Pelzel, chief technology off icer of IQE, which makes wafers used in chips for t he w ireless industr y, and w hose cl ients i nclude Apple Inc. “Find ing t he sk i llset so far hasn’t
t hird most impor tant issue for voters after t he economy and healt h care accord ing to YouGov—pol itic i ans’ pledges to bri ng nu mbe r s down under mines national effor ts to strengt hen t he domestic semiconductor industr y. T he Tor y gover nment last year publ ished a strategy for t he sector identify ing chips as “one of t he f ive technolog ies of tomorrow” that’s “v ital” to mak ing Brita in a technology super power T he need for more do-
With immigration looming large over the election campaign—it’s the third most important issue for voters after the economy and health care according to YouGov—politicians’ pledges to bring numbers down undermines national efforts to strengthen the domestic semiconductor industry.
Mark Villar
Larger US deficits pave the way for even more Treasury bills
By Alexandra Harris
US fiscal deficits are projected to grow over the next decade, likely pushing the government to increasingly rely on Treasury bills and healthy demand to plug the holes.
T he nonpar tisan Cong ressional Budget Off ice last week upped its def icit estimate for 2024 to almost
$2 tri llion f rom about $1.6 tri llion in Februar y, signal ing a higher t hreshold for federal borrow ing. Total def icits are expected to equal or exceed 5.5 percent of GDP in ever y year from 2024 to 2034, it sa id.
T hose latest projections sounded
t he alar m on Wall Street, prompting analysts to rev ise trajectories for bi ll sales. W hi le Treasur y is well f unded over t he next two years due to recent coupon auction increases, t he gap “w idens measurably” into t he 2030s, accord ing to Citig roup Global Markets. Analysis of the longter m f und ing shor tfall suggests t he depar tment has “few options but to g row T-bi ll share over time,” strateg ist Jason Wi ll iams w rote in a note to cl ients.
T he Treasur y Borrow i ng Adv isor y Comm ittee—comprisi ng dealers, i nvestors and ot her stakeholders—h as recommended t he Treasur y skew f ut ure i ssu ance towa rd shor ter mat urit ies where l iquid ity and i nvestor demand i s st ronger
T he g roup sa id it expects a meani ngf u l dev i at ion f rom its hi storical recommendat ion of T-bi lls mak i ng up 15 percent to 20 percent of all outstand i ng debt, before a ret ur n to t he suggested range over t i me.
Treasur y has issued roughly $2.17 trillion of bills on net since the beg inning of 2023 Issuance now stands at 21.7 percent of all outstand ing debt as of end-May and Citi strateg ists see t hat share g row ing.
“Coupon increases w i ll be needed at some point in t he f uture, but t hat is a 2026-2027 stor y in our v iew,” Wi ll iams w rote. “At t his juncture, we suspect Treasur y w i ll be comfor table w it h T-bi ll share head ing towa rds 25 percent, and perh aps even higher since t his wou ld fall in l ine w it h historical levels and T-bi ll
issuances help limit longer-end ter m premium risks.”
Boosting estimates
OTHER Wall Street strateg ists have rev ised t heir near-ter m outlook for bi ll supply higher Barclays Plc now sees net issuance of $600 bi ll ion in 2024 and $300 bi ll ion in 2025, bot h $200 billion higher than prev ious estimates, due to t he more pessimistic CBO numbers. T hat means bi lls as a share of total debt outstand ing is l i kely to cl imb above 22 percent t his year accord ing to strateg ist Joseph Abate.
Deutsc he Bank st rateg i sts Steven Zeng, Matt hew Rask i n and Bri an Lu sa id si nce Treasur y noted at last month ’s ref und ing announcement it ant ic ipated no f ur t her coupon si ze increases for at least several qu a r te r s—any nea r -te r m def i c it i nc reases w i ll be absorbed t hough higher bi ll i ssu ance. T hey now see net bi ll i ssu ance of $500 bi ll ion i n 2024 versu s t he prev iou s forecast of $350 bi ll ion.
St i ll, demand for s hor t-dated gover nment debts cont i nues u nabated g iven t h at y ields a re st i ll above 5 percent and money-ma rket f u nds a re sitt i ng on over $6 t ri ll ion of assets. At t he same t i me, t here’s st i ll more t h an $400 bi ll ion pa rked at t he Federal Reser ve’s over n ight reverse repo fac i l ity, whic h “ repr esents a so urce of demand fo r f ront-end investment alter nat ives,” accord ing to Morgan Stanley st rateg i st Ma r t i n Tobi as. “A backd rop of healt hy f ront-end demand shou ld continue to prov ide Treasur y w it h t he cond itions to increase t he pace of bi ll issuance to t he private market” in t he second half of 2024, he w rote. “ Given attractive y ields and sti ll-ample liquid ity in the front-end, we expect demand for bills to rema in strong for a key cohor t of t he market.” Bloomberg
Too late the hero
Atty. Nino Juan Conclusion
TOO late the hero: How invoking (or rejecting) police power does not make up for regulatory inaction. The second ERC issuance is the Order dated January 25, 2024 in ERC Case No. 2020-043RC, a case involving Meralco’s regulated distribution charges. In this Order, a divided ERC (by a vote of 3-2) ruled to deny the pending motions for reconsideration on its Decision dated June 16, 2022 or what it refers to as the Average Weighted Average Tariff (AWAT) Decision. In effect, the ERC upheld its June 16, 2022 AWAT Decision wherein the ERC, in the exercise of its rate-making authority, directed Meralco to refund the additional amount of P21,769,496,221.00, for a total refund of P40.5 billion.
For some context, t he ref und was caused by t he d iscrepancy in t he f inal Interim Average Rates (IAR) approved and conf ir med by t he ERC in its Decision rendered in ERC Case No. 2015-112RC (IAR Decision) and the actual interim rates implemented by Meralco for t he period f rom Ju ly 2015 to June 2022, or t he Lapsed Years as t he ERC puts it. Simply put, during t he Lapsed Years, Meralco’s implemented rates were higher t han what t he ERC subsequently and f inally deter mined in its IAR Decision to be t he appropriate and f inal rates of Meralco for t hose years. Consequently, t here were over-recoveries amounting to P40.5 bi ll ion as deter m ined by ERC, whic h Meralco was d irected to ref und under t he AWAT case. Meralco over-recoveries of P40.5 Bi ll ion? Anyare ERC ? Republ ic Act No. 9160 or t he Electric Power Industr y Refor m Act (EPIRA) vests t he ERC w it h ratemak i ng aut hority. It also g r ants ERC t he option to “adopt alter native for ms of i nter nat ionally-accepted rate-setting met hodology as it may deem appropriate.” Exercising t his option, t he ERC has adopted a for m of per for mance-based ratemak ing (PBR) for all private DUs. Generally, in setting t he rates, t he ERC deter mines t he DU’s total annual revenue requirement (ARR) or t he total amount t he DU w i ll need for its annual operating expenses, taxes, and allowance for depreciation, plus a reasonable retur n on its invested capital. T his capital in tur n
Nvidia enters correction territory as slump erases $430 billion
By Ryan Vlastelica
d rop weighed on c hipmakers
The stock fell 6.7 percent, its third straight negative session and biggest one-day percentage drop since April. The three-day drop erased about $430 billion from Nvidia’s market capitalization, the biggest three-day value loss for any company in history, according to data compiled by Bloomberg.
behind Super Micro Computer Inc., anot her favorite AI play.
T he stock suffered a d rawdown of about 20 percent earl ier t his year, alt hough it quickly retur ned to alltime highs.
is measured in ter ms of t he value of t he reg u lator y asset base (RAB) and the retur n on this is based on the cost of t he DU’s debt and equity comprising such invested capital. T he PBR, which is an inter nationally accepted rate-setting met hodology, is for ward look ing. It uses t he bui ld ing blocks approach where t he DU’s ARR is “bui lt up” based on its forecasted eff icient operating costs and retur n of (depreciation) and retur n on an eff icient RAB. It def ines a Reg u lator y Period composed of four or f ive years where in between Reg u lator y Periods, a rate reset is under taken. During t he reset process, t he reg u lator conducts major rev iew of t he bui ld ing blocks to be able to set t he ARRs for each of t he reg u lator y yea r s comp ri s i ng t he ensuing reg u lator y period. Because of PBR’s for ward-look ing approach t here are inherent f inancial incentives for t he DU to lower its costs and hit t he per for mance ta rgets set by t he reg u lator It can strive to operate more eff iciently during t he Reg u lator y Period, keep its actual costs at lower than the eff icient costs used in setting its ARRs during t he earl ier rate reset, and enjoy t he cost sav i ngs for t he rema i nder of t he Reg u lator y Period. Come t he next rate reset, however, t he reg u lator can already use as reference such actual lower costs incurred by t he DU in deter mining t he ARRs for t he next reg u lator y period and make t he downward eff iciency adjustments to t he rates. T his means lower power rates for t he consumers in t he long
Hostile.
run or after several reg u lator y periods and resets.
In t he case of Meralco, it was supposed to undergo already in late 2014 its rate reset for its Four t h Reg u lator y Period (4th R P) covering the fouryear period from Ju ly 1, 2015 to June 30, 2019. T he ERC, however, decided to rev iew its PBR Ru les and deferred any action on t he rate reset, not just of Meralco, but of all the other private DUs. Such rev iew of t he PBR Ru les took long to f inish Wit h no reset happening prior to t he star t of its 4t h R P, Meralco was constra ined to ask for ERC’s approval to implement an interim average rate (IAR) under ERC Case No. 2015-112RC. Consequently, t he ERC approved for Meralco an IAR of P1.3810/ kW h T his IAR was not contemplated under PBR, which as earl ier cited, is forward look ing. T his IAR was also set w it hout t he benef it of a major rev iew of t he bui ld ing blocks of Meralco’s revenue requirement. T he regulator y inaction continued and t he 4t h R P lapsed w it hout t he ERC completing t he rev iew and rev ision of its PBR Ru les and under tak ing t he reset of Meralco’s rates. On June 16, 2022, t he ERC issued its IAR Decision, approved a rev ised IAR of P1. 3522/ kW h for Meralco, and declared it as Meralco’s f inal d istribution rate for t he period f rom Ju ly 1, 2015 to June 30, 2022. Hence, Meralco’s interim rates became its f inal d istribution rates for t he sa id period or what was referred to as t he Lapsed Years and t he IAR Decision became f inal because no motion for reconsideration was f i led nor an appeal taken by any par ty f rom sa id IAR Decision. Because what t he ERC approved as Meralco’s f inal rates were lower t han t he interim rates Meralco was earl ier allowed to implement during t he Lapsed Years, t here were obv iously over-recoveries t hat accumulated. Because of t his, in ERC Case No. 2020-043 RC, entitled In the Matter of the Application for: (A) Confirmation of the True- Up Calculation of
“In t he near-ter m, it is plausible t hat investors beg in suffering f rom AI-fatig ue or become more broadly concer ned about index concentration,” sa id Nev i lle Javeri, por tfol io manager and head of t he Empiric LT Equity team at Allspring Global Investments.
Even w it h t he slump, Nv id ia remains up nearly 140percent this year, mak ing it the second-best per for mer among S&P 500 Index components,
w it h t he Phi ladelphi a Stock Exc h ange Sem iconductor Index falli ng 3 percent on Monday. Broadcom Inc. fell 4 percent whi le Qu alcomm Inc. d ropped 5.5 percent and ARM Hold i ngs Plc slu mped 5.8 percent. US-l i sted sh a res of Ta iwan Sem iconductor Manu fact uri ng Co. shed 3.5 percent. T he d rop put Nv id ia’s valuation back below t he $3 tri ll ion t hreshold, and under bot h Microsoft Cor p. and Apple Inc. in size. Nv id ia briefly cla imed t he title as t he world’s largest stock last week.
W hi le investors have flocked to Nv id ia g iven t he sky-high demand for its chips used in AI processing, t he scale of Nv id ia’s rally—it soared about 240 percent over t he course of 2023 has underl ined concer ns about its valuation. T he stock trades at 21 times estimated sales over t he next 12 mont hs, mak ing it t he most expensive in t he S&P 500 by t his measure. Sti ll, it rema ins well l i ked on Wall Street. Nearly 90 percent of t he analysts tracked by Bloomberg recommend buy ing, and t he average analyst price target points to upside of about 12 percent f rom current levels.
“T he momentum in Nv id ia and AI stocks in general has been staggering,” sa id Charl ie Ash ley, por tfol io manager at Catalyst Funds. “In ter ms of investing, I wou ld not be a contrarian right now.” With assistance from Tom Contiliano / Bloomberg
deep tech business, real d iff icu lty hiri ng people i n England,” Col i n Humphreys, co-founder of Parag raf, whic h develops c hip tec hnolog ies using t he cutting-edge material g raphene, sa id on a panel at t he Founders Forum in Oxford t his mont h “We want a gover nment which really pushes up t he investment in science and technology and industr y, and, also, when it makes decisions, t hey ask what effect w i ll t hese decisions have on industr y. T hat is not done at t he moment.”
H u mp hr eys sa i d P a r ag r af— which has had to pay more to hire f rom t he US and has been d isappointed by t he obstacles and lack of gover nment suppor t for its expansion—is considering mov ing its operations t here because “of t he ease of getting t hings done in America. It’s so d iff icu lt in England.”
Compan ies compla i n t he v i sa process is too bureaucratic and takes upwards of 18 weeks, compared to si x in France. Parag raf’s human resources manager Helen Dighton, sa id some cand idates w it hd raw applications when they realize the time and cost required to secure a v isa, as well as the £1,035 ($1,308) surcharge mig rants must pay to access t he National Healt h Ser v ice.
“T here’s just loads and loads of red tape,” sa id Mark Lippett, CEO of Bristol-based X MOS, which makes chips used in aud io equipment.
Nei l Dick ins, founder of semiconductor recruiter IC Resources, sa id hiring one inter national employee wou ld cost £9,000 or more in l icense and legal fees—which he called “a tax
on companies tr y ing to compete for global talent.” Moreover t hat comes on top of t he annual immig ration sk i lls charge, which depends on t he company’s size but on average costs about £600, he said. A similar process wou ld cost one tent h of t he price in Ger many. Anot her chief executive off icer of a British chip designer—who spoke on cond it ion of anonym ity whi le d i sc u ssi ng commerc i al matters— described a global war for talent in which bureaucracy and prohibitively restrictive immig ration ru les cou ld lead to devastating losses of potential employees to foreign compet itors.
T he executive sa id t he Home Off ice had been hosti le when t hey were tr y ing to secure foreign recruits in t he wake of Brex it, and t hat after mov ing to a new company, t hey’d opened a new off ice on t he continent where it was easier to employ foreign labor Half of the operation now runs from overseas—at a considerable loss to t he UK in income tax, t hey noted.
T he Home Off ice said its sponsorship system is designed to be
3 DUTERTES TO SEEK SEATS IN SENATE IN 2025: VP SARA
By Jovee Marie N. dela Cruz
her resignat ion as Sec reta r y of t he Depa r tment of Educat ion [DepEd], Sa r a repl ied, “T he re a re no talks about t h at.” W i t h o u t g i v i ng a r eason, D uter te on Wednesday tende r ed h e r “ irr evocable” res i gnat ion as Sec reta r y of Education and cochair person of the National Task Force to End Local Communist A r med Conflict (NTF-ELCAC).
Political dynasty?
HOUSE Dep u ty M i no ri ty Leade r and ACT Teac h e r s P a r tyl i st Rep. F r ance Cast r o st r ongly c ri t i c i zed t h e
D ute r te fam i ly’s p ur po r ted plan to expand pol it ical dynast ies i n nat ional pol it ics. “T his is t he height of bureauc rat capital ism, where a si ngle fam i ly wants to cont rol ever y aspect of a nat ion’s pol it ics. Ru nn i ng for gover nment posit ions has become not just a means for corruption but also a shield to cover up t heir w rongdoi ngs aga i nst t he people.” Cast r o, meanw hi le, ur ged t he Fi l i p i no people to rema i n v i g i lant and to oppose t he effo r ts of pol it i cal dynast i es to monopol i ze powe r and pe r pet u ate t h e ir aut ho rity, w hi c h u nde r m i nes democ r acy and neglects t he i nte r ests of t he masses.
as Vice President follow i ng
DA chief vows to lead push for rice tariffs
By Ada Pelonia
AGRICULTURE Secretary
Franciso Tiu Laurel Jr. is willing to file a petition to increase rice tariffs by November if rice prices plunge to as low as P42.
“To ma i nta i n a price of P42 to P45 wou ld be t he ri g ht r ange,” Laurel told repor te r s duri ng a med i a foru m organ i zed by t he Phi l ippi ne C h ambe r of Comme rce and Indu st r y ( PCCI) on Tuesday.
Howeve r t he ag ric u lt ure c hief sa id t h at i f t he decl i ne i n rice prices i s not
Comm i ss
(TC) wou ld not be real i zed yet. Despite t hi s, Laurel ma
i nflat i ona r y p r ess ur e of va ri o u s commod i t i es cons i stent w i t h t h e Phi l i pp i ne nat i onal i nte r est: t h e ob j ect i ve of safeg u a r d i ng t h e p ur c h as i ng powe r of F i l i p i nos,” Ma r cos sa i d i n t h e t hr ee-page i ss u ance.
EO 62 noted t h at t he comprehensive and /or spec i f ic MFN (Most Favored Nat ion) ta ri ff r ates l i sted u nde r Annex A of EO 26 w i ll be s u b jected to a Nat ional Econom ic and Development Aut hority (Neda) rev iew eve r y four mont h s f rom t he effect iv ity of t he new orde r Unde r t he new i ss u ance, t he ta ri ff for local food staple w i ll be reduced f rom 35 percent to 15 percent
LAUREL JR.
Php
777 KORPHIL HOLDINGS CORP.
City Of Pasig
20. HWANG, JUNGIL
21. NOH, SANGHYEON
INC.
Room 202 Apc Building, Quezon Ave., Paligsahan, Quezon City
23. HUANG, WENLIANG Assistant Consultant
To guide clients through all procedures
24. XIE, SHUJUAN Assistant Consultant To guide clients through all procedures
25. BAO, LONGDONG
To guide clients through all procedures required
26. XU, HUAIJIN
To guide clients through all procedures required
27. YANG, YUEHUA
To guide clients
The
60. YANG, JIAN Field Sales Consultant
Php
The one responsible to “get the sale” using
customer sales methods. Can
CEBGO, INC.
61. SUBRAMANIAN, PRAVEEN Pilot
Php
Licensed Pilot.
Php 90,000 - Php 149,999
CHINA INTERNATIONAL WATER AND ELECTRIC CORP. (BRANCH OFFICE) 5/f, Two E-com Mall Of Asia Complex Bldg., Harbor Drive St., District
62. CAO, JINLONG Bid Coordinator
CINE EQUIPMENT PHILS., INC.
63. TAN HWEI YEE, JADE Vice President And General Manager
Lead the sales, technical and admin teams, manage the of the company.
CRONYX INC.
64. LE SY
65. CAI, BIHONG Chinese Speaking Business Development Associate
70. YANG, JIN Chinese Speaking Business Development
12th Flr Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig
223. DIXON, STUART MACAULAY Project Manager
Responsible for project planning, monitoring and management, commercial management, quality management, HSE management, risk and opportunity and people management.
MACHINE VENTURES INC.
projects. Php
and above
224. SHABIBI, SEYED SHAHABODDIN assets. College graduate. With 10
MALAYAN INSURANCE CO., INC. Q Paredes St, 500, Barangay 289, Binondo, City Of Manila
225. KOSUGE, MITSUHIRO Japanese Sales Department Head Marine Division.
NAVARRO AMPER & CO.
226. ADRIAN CHIA JET WUI Consultant
Responsible for management and supervision of & Measurement. These include, but not limited
316. CHAI, YU Mandarin Operations Specialist
Brief Job Description: Maintain accurate sales record.
317. CHUMWANGWAPEE, CHANIN Food Specialist
Brief Job Description: Preparing food in accordance with recipes and quality and standard.
321. HUANG, WEIHONG Chinese Customer Service Representative
Brief Job Description: Manage large amount of incoming phone calls.
RRA ONE GLOBAL CONSULTANCY CORP.
Blk 1 Lot 6 Progressive St., Lucky Homes Subd., Barangay 168, City Of Caloocan
322. LI, YINGHONG Management Consultant
Brief Job Description: Analyze financial data including expenditure reports revenue data and employee reports.
323. CAI, CHAOFENG Mandarin Speaking Consultant
Brief Job Description: Identifying and addressing problem.
324. WANG, QINGBAI Mandarin Speaking Consultant
Brief Job Description: Identifying and addressing problem.
RUBEN AND RODEL VENTURES CORP.
Unit 618 6th Floor Aic Burgundy Empire Tower, Adb Avenue, Ortigas Center, San Antonio, City Of Pasig
325. DOKKO, YUNG Korean Business Development Consultant
Brief Job Description: Responsible in dealing with purely Korean transaction and importation of raw material from Korea. Basic Qualification: College graduate. With previous work experience in a similar role. Salary Range:
RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati
326. FHERRIN TANU WIJAYA Indonesian-language Customer Support Staff
Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment.
327. NATASHA OKTARINA HAWILA Indonesian-language Customer Support Staff
Brief Job Description: Identify effective marketing campaigns that will reach targeted audiences effectively and efficiently.
Basic Qualification: Strong knowledge of sales and persuasion
Editor: Jennifer A. Ng
Telcos to govt: Safeguards in place to thwart criminals
By Lenie Lectura @lle
PLDT Inc. and Smart Communications Inc. (Smart) said they are intensifying efforts against fraudulent activities over mobile services by collaborating with the Cybercrime Investigation and Coordinating Center (CICC).
countr y to help f ight SMShing-based c ri mes. It h as r ecently la u nc h ed “Watc hdog,” an int uit ive cybersecurity tool where employees can send screenshots and other details of SMShing messages.
PLDT and Smar t sa id t hey are improv ing t heir repor t ing mec hanisms to make it easier for customers to repor t text scams and simi lar f raudu lent sc hemes.
of Saudi A rabia, Canada, among others. At present, c u stome r s can purc h ase food g i ft ca rds on D i ng’s platfor m or mobi le app for one-t i me u se and redeemable i n select br anc hes i n t he Phi l ippi nes, as well as Lazada and S hopee vouc he r s. T hrou g h t hi s pa r tne r s hip w it h PLDT Global, Fi l ipi nos can also h ave access to g i ft vou c he r s for mWell onl i ne doctor cons u ltat ions and C i gnal TV prepa id ca rds on D i ng.
“O ur long-stand i ng pa r tnership w it h Ding suppor ts our goal of bringing d ig ital ser v ices closer to Fi l ipinos l iv ing overseas and enabl ing t hem to prov ide for t heir fami l ies’ needs even f rom afar,” sa id Alber t V. Vi lla-Real, President and CEO at PLDT Global, the inter nat ional reta i l ar m of PLDT Inc.
Globe’s assurance
he PLDT g rou p h as also “engaged and empowe r ed” i ts ove r 14,000-strong workforce across t he
Meanwhi le, PLDT Global Cor porat ion (PLDT Global) has expanded its offerings on lead ing inter nat ional mobi le top-up platfor m Ding. T hrough Ding.com and t he Ding app, overseas Fi l ipinos can purc hase and send Smar t and TNT prepa id load products to t heir fami ly members in t he Phi l ippines. T hey can also buy g ift cards f rom d ifferent Fi l ipino brands, allow ing t hese brands to reac h a w ider market in t he United States, K ingdom
GLOBE Telecom Inc. assured that there is no unreg istered SIM in act ive use w it hin its network. Globe, whic h has 58.8 mi ll ion mobi le customers, sa id it does not allow any customer to use an unreg istered SIM. Under its current system, a new SIM is only act ivated once reg istered
t hr o u g h Globe’s SIM r eg i st r at i on platfor ms.
“We designed our SIM Reg istration system in suc h a way t hat no SIM can be used on t he network unless reg istered. T herefore, all active SIMs w ithin our network are in our system. Even as we cont inue to enhance our SIM reg istration platfor m, we already have
measures in place t hat defend aga inst
t he i llegal use of unreg istered SIMs,” sa id Darius Delgado, Globe Vice President and Head of Consumer Mobi le Business.
T he SIM Reg istrat ion Act ensure t hat all SIMs currently in use are registered. Follow ing t he reg istrat ion period f rom December 27, 2022 to Ju ly 30, 2023 whic h covered SIMs already in use before passage of t he law, Globe deact ivated over 30 mi ll ion unreg istered SIMs.
Since then, Globe has also strengthened security measures for SIM reg istrat ion to ensure t he integ rity of t he reg istrat ion process for new SIMs.
T hese i nclude advanced enc r ypt ion protocols to sec ure data t r ansm itted duri ng t he reg i st r at ion process, l i ve photo capt ure tec h nology to prevent t he u se of stock or preex i st i ng photos, and l i m ited ID s u bm i ss ion ret ries to prevent r andom or repeated attempts to reg i ste r w it h f ict it iou s doc u ments. Globe reminds SIM users to submit accurate infor mat ion and photo IDs as submission of false infor mat ion is punishable under t he law. T he telcos made t heir pronouncements after t he CICC sa id it is pursuing legal act ion aga inst telecommunicat ions companies and t heir agents t hat fa i led to account for t housands of unreg istered SIM cards t hat have been used in f raudu lent act iv it ies.
Continued on B
SM Prime lists bonds on PDEx
SM Pri me Hold i ngs, Inc. (SM Pri me) l i sted its P 25-bi ll ion f i xed r ate bonds on t he Phi lippi ne Deal i ng and Exc h ange Cor p. ( PDEx). T he company’s Series V, W, and X due i n 2027, 2029, and 2031, respect ively, for m pa r t of t he f irst t ranc he of SM Pri me’s P 100-bi ll ion shelf reg i st r at ion of f i xed- r ates bonds t h at we re approved by Sec urit ies and Exc h ange Comm i ss ion (SEC) last mont h “T he s uccessf u l l i st i ng of SM
THE Philippine Economic Zone Aut hority (Peza) sa id it has off icially sealed t he proclamation of Tupi IT Park, which w i ll be located in Sout h Cotabato. Last June 19, Peza Deputy Director General for Operations Viv ian Santos and Matutum Hold ings
Pri me’s F i xed Rate Reta i l Bond Se ries V, W, and X h ave been met w it h ove r w helm i ng demand f rom t he i nvest i ng pu bl ic, res u lt i ng i n a t hree-fold ove r s u bsc ript ion t h at h as allowed u s to r a i se an i mpress ive P 25 bi ll ion,” sa id SM Pri me C hi ef F i nance Off i ce r Jo h n Na i Peng C. Ong. Proceeds w i ll be u sed to ref inance SM Pri m’s debt and expand its por tfol
CITYSTATE Sav i ngs Bank (CSBank) held an engag ing Spor tsfest at t he Amoranto Spor ts Complex in Quezon City on Saturday, June 15, 2024. T he event, t hemed Palarong Pinoy,” was designed to promote wellness, camaraderie, and spor tsmanship, whi le foste ri ng st ronge r bonds among employees.
T he festiv ities k icked off w it h a v ibrant parade of colors, where employees, g rouped accord ing to clusters, proudly d isplayed t heir team spirit. T he prog ram off icially began w it h t he sing ing of t he national ant hem, followed by a doxology. T he torch-l ighting ceremony, symbol izing unity and t he compet itive spirit, featured representatives f rom each team, cu lminating in t he torch being received by CSBank President Ja ime Valentin L. A raneta. CSBank Vice Chair man Benjamin V. Ramos war mly welcomed t he participants and encouraged t hem to make t he most of t his oppor tunity to connect w it h colleag ues beyond t he usual phone and onl ine interactions. He high l ighted t he importance of bui ld ing strong workplace relationships.
After t he Oat h of Spor tsmanship, t he event burst into a d isplay
of talent and teamwork. T he Cheerdance Competition, in which teams showcased spirited routines, f i lled t he venue w it h energy and ent husiasm, followed by t he Ti kTok Dance Competition, which added a moder n tw ist w it h teams showcasing dance sk i lls and creativ ity.
T he trad itional Palarong Pinoy games, including Batuhang Bola, Bao or Bunot Relay, Sack Race, Sipa or Pitcha, and Pinoy Henyo, saw teams fiercely competing to ear n points and demonstrate t heir sk i lls.
After t hese activ ities, t he excitement cont i nued w it h t he awa rding of w inners for t he Cheerdance, Ti ktok Dance, and Palarong Pinoy compet itions.
In his speec h CSBank President Ja ime Valentin A raneta expressed
This g rat it ude to t he management and employees for mak ing t he event possible. He emphasized t he importance of celebrating t he spirit of toget her ness.
Moreover, “ALC ie,” t he off ic i al mascot of t he ALC Group of Companies, made his f irst appearance at the Spor tsfest, add ing an extra element of f un and cheer to t he event.
T he event concluded w it h t he high ly anticipated basketball championship and t he award ing of t he w inning team, capping off a day filled w it h f un, teamwork, and spirited compet ition. Citystate Sav ings Bank is par t of t he ALC Group of Companies founded by t he late Amb. Antonio L. Cabangon Chua and currently cha ired by D. Edgard A. Cabangon.
ization at f u ll capacity are critical in accommodat i ng add it ional power generation to t he g rid to prevent Luzon-w ide power interruptions. Of t he actual cost of t he Her mosa-San Jose l ine component of t he project, the ERC has allowed NGCP to recover only P19 mi ll ion, or only 0.1 percent of t he cost of t he project.
“With the completion of this critical project, NGCP is optimistic t hat t he ERC w i ll act on t he overdue recoveries appl ied for by NGCP.”
Line 1 of t he Her mosa-San Jose 500kV l ine was energ ized on May 27, 2023 to accommodate power generation in Bataan w it h a 2,000MW transfer capacity. It was f u lly completed on May 19, 2024, enabl ing a 4,000MW l ine capacity. T he f u ll completion of Line 2 cou ld accommodate 8,000MW in generation capacity, more than enough for existing
and any incoming generation.
“NGCP completes t his landmark energy project under t he leadership and g uidance of President Ferd inand Ma rcos, Jr T his ma rks t he f u ll completion and energ ization at f u ll capacity of t his critical faci l ity, strengt hening and expand ing t he g rid under NGCP.”
T h e Ma ri veles-He r mosa-San Jose 500kV l ine is comprised of 395 transmission towers, 275.6 circuit k i lometers of transmission l ines, 2 new substations, and 2,000 MVA in substation capacity. W hi le cer tif ied as an Energy Project of National Signif icance (EPNS), t he project sti ll encountered various d iff icu lties par ticu larly on right-ofway due to opposition of landowners, long and ted ious jud icial processes, and protracted per mitting process by local gover nment units. In Ju ly 2023, a por tion of t he l ine owned by PHirst Park Homes Inc., became t he subject of a temporar y restraining order (TRO) issued by the Supreme Cour t. NGCP immed iately stopped activ ities along Towers 170178, stall ing t he ongoing string ing of t he l ine’s rema ining circuit f rom Ju ly 2023 to Apri l 2024. NGC P ass ur es t he p u bl i c and its stake h olde r s t h at i t w i ll cont i n u e to del i ve r on i ts comm i tment to i mp r ove, expand, st r engt h en, and r e i nfo r ce t h e co u nt r y’s powe r g ri d. Lenie Lectura
Govt hits borrowing target for June
By Reine Juvierre Alberto
TAHE national government reached its borrowing target for the month of June, raising P60 billion from the sale of Treasury bills (T-bills).
T he Bureau of t he Treasur y (BTr) capped its June auctions by making a f u ll award of t he bids for t he t hree tenor shor t-ter m debt papers on Tuesday.
T he average rates of 91-day tenor, 182-day T-bi lls and 365-day gover nment securities are all lower than the preva i l ing secondar y market rates, but mi xed week-on-week.
he launch of new products such as savings, lend ing, insurance, and Atome Card (Pay Later Anywhere) in t he Phi l ippines, as well as in neighboring markets like Singapore, Malaysia, and Indonesia. Accord ing to Ra hu l Sha h par tner at Evolution X , t he loan faci l ity for Atome Financial is t heir f irst f intech investment in Sout heast Asia. “T he launch of innovative and f itfor-market solutions l i ke t he Atome Card (PayLater Anywhere) and lending products demonstrates their ability to expand offerings whi le leverag ing local market exper tise,” Sha h said. “We’re excited to support Atome Financial in t heir ongoing jour ney to improve f inancial inclusion and access to mobi le-f irst f inancial serv ices in large under-ser ved markets in Sout heast Asia.” Atome Financial is comprised by Atome Buy-Now-Pay-Later (BNPL) and Indonesian d ig ital lend ing platfor m K red it Pintar It for ms par t of Si ngapore-headqu a r tered Advance Intell igence Group, which is backed by top-tier investors, namely, SoftBank Vision Fund 2, Warburg Pincus, Nor t hstar and Singapore-based global investor EDBI. For f iscal year (FY) 2023, Atome recorded nearly doubled its operating income almost to $170 mi ll ion. T his cou ld be ma inly attributed to the profitability of its BNPL business, d riven by a 40 percent year-on-year increase in g ross merchand ise value to $1.5 bi ll ion and 130 percent YoY revenue g rowt h T h e pos i t i ve moment u m h as continued in FY2024, w it h Atome Financial announcing in Apri l t hat it rema ined prof itable in t he f irst quar ter Advance Intell igence Group Cofounder and Chief Executive Off icer Jefferson Chen sa id t he company is “excited” to also tie up w it h Evolution X for their “next stage of growth.” “T hi s new fac i l ity r ecogn i zes Atome Financial’s operational excellence and platfor m value as we look to accelerate t he momentum of our d ig ital f inancial ser v ices business, t he expansion of reg ional strateg ic par tnerships l i ke Ti kTok Shop and Lazada as well as t he launch of t he new Atome Card, sav ings and lending products across key Sout heast Asian markets,” he said. Roderick L. Abad
T h e 91-day T-b i lls’ ave r age y i elds r ema i ned u nc h anged at 5.666 pe rcent f rom t he prev iou s auct ion. Bids r anged f rom 5.648 pe rcent to 5.675 pe rcent for t he 91-day T-bi lls.
By Lenie Lectura @llectura
Fintech Innovations
LOBE
GInc., operator of GCash, has par tnered with Meridian, an instant payments technology company based in New York C ity.
T he par tnership allows cash-ins and rem ittances f rom a select ion of over 12,000 banks in t he United States to any GCash account. Each transaction incurs a $1 fee.
Upon cash-in f rom a US bank account, dollars are automat ically conver ted to Phi l ippine pesos using compet itive foreign exchange rates and i nstantly deposited i nto t he GCash wallet.
T he feat ure i s ava i lable to all GCash app users who have US-based f unds in accounts w ith banks including Wells Fargo, Bank of America, and Chase, among ot hers. US bank accounts must f irst be l inked to a GCash account.
“T his seamless integ ration w it h
V i etnamese lende r So ut h east Asia Commercial Joint Stock Bank (SeABank) plans to issue t he countr y’s f irst blue bond as par t of a $150 mi ll ion f inancing package f rom t he Inter national Finance Cor p. (IFC). IFC w i ll subscribe t he $25 mi ll ion dollar-denominated f ive-year blue bond issued by t he bank, as well as $50 mi ll ion in f ive-year dollar-denominated g reen notes, accord ing to a joint statement between IFC and t he lender, known as SeABank. Blue bonds are used to finance marine and ocean-based projects that are meant to have positive env ironmental, economic and climate benefits. Proceeds from the blue and green bonds will be used by the Hanoi-based
Meanwhi le, i nvestors’ ave r age ask ing y ield for t he 183 -day T-bi lls increased to 5.930 percent compared to last week’s auction at 5.914 percent. T he gover nment security rates settled between 5.912 percent and 5.950 percent.
Investo r s’ ave r age r ate fo r t h e 3 64-day T-b i lls went down to 6.0 31 pe rcent w it h a y i eld r ange f r om a low of 6.029 pe rcent to a hi g h of 6.0 3 4 pe rcent. T-b i lls’ y i elds ave r aged 6.046 pe rcent i n t h e Tr eas ur y’s p r ev i o u s au ct i on on Ju ne 18. T he auction committee ra ised P5
US f inancial institutions eases t he rel iance on mu lti-appl ication, f ragmented remittance processes,” t he company sa id.
GCas h and Me ri d i an plan to implement simi lar initiatives in t he United K ingdom and throughout the European Union.
T he new f unctional ity is par t of GCash ’s global expansion, catering to about two mi ll ion overseas Fi l ipino workers as well as outbound Phi l ippine tourists.
“We have been stay ing true to our comm itment to suppor t our kababayan ab r oad, empowe ri ng t hem to have more control over t heir f i nances and ensuri ng t h at t heir transactions are more convenient at ever y step of t he process,” sa id Pau l Albano, general manager of GCash Inter national.
Merid ian sa id it is ded icated to developing f inancial solutions t hat improve ever yone’s d ig ital bank ing experience as well as innovations
lender to expand its funding for activities such as sustainable aquaculture and fisheries, as well as investments in environmentally friendly buildings and renewable energy.
Vietnam w i ll need about $368 bi ll ion t hrough 2040 w it h probably half f rom t he private sector to reach its goal of net-zero carbon em i ssions by 2050, sa id T homas Jacobs, IFC cou nt r y manager for Vietnam, Cambod ia and Lao PDR.
Blue and g reen bonds can help
Vietnam attract t he level of f inanci ng it needs to add r ess cl i mate change, he sa id in an inter v iew Monday. IFC is tr y ing to help bring in new investors, he sa id. T he gover nment’s commitment
i nuou s development as a mu lt i-ser v ice f intec h inst it ut ion, Bayad launc hes Bayad Asenso, an easyto-operate business payment solut ion t hat is embedded w it hin t he Bayad App. Bayad Aseno a i ms to empowe r MSMEs into becoming Bayad Agents, essent ially transfor ming t heir sa ri-sa ri stores, eateries, pet shops, water ref i lling stat ions, and ot her small business establ ishments into payment centers. PLDT, Converge, Globe, SkyCable, C ignal, Home C red it, Manu l i fe, Su n Life, SSS, Pag-IBIG, Sma r t, Easytrip and Autosweep RFID, Meralco, Mayni lad, Mani la Water and ot her electric and water ut i l ity bi llers in reg ional a reas suc h as Davao Light, Cotabato Light, Albay Power CAGELCO, BATELEC, ISELCO, ANTECO, LEYECO, PANELCO, VECO, Subic Enerzone, Bocaue Water District, Lag una Water, Legazpi Water, Bal ibago Water works, Subic Water Tag um Water District, Ca r mona Water District, and many ot hers a re now already being processed by Bayad Agents. As Bayad reac hes out to t he community level, t he company sa id it does not only preser ve t he value of its bricks-andmor ta r business but also equ ally promotes d ig ital transfor mat ion to cater to t he ever-c hang ing needs of Fi l ipinos f rom all walks of l ife. Bayad’s President and CEO Law rence Y. Ferrer said, “We believe in empowering ever y Fi
t hat al ign w it h t he company’s mission of bring ing t he world closer toget her—two key goals t hat it shares w it h GCash, sa id Merid ian CEO Wi ll Haering.
“We are t hri lled to par tner w it h GCash, t he lead ing f intech company in t he Phi l ippines, and we look forward to our ser v ice mak ing a d ifference in t he l ives of GCash users,” added Haering.
GCash announced last March that it h as expanded its i nter nat ional reach and f u lly launched its global push follow ing approval f rom t he Bangko Sentral ng Pi l ipinas. Fi l ipinos in 14 territories—t he US, Canada, Italy, t he UK, Austral ia, Japan, t he United A rab Emirates, Qata r Sout h Korea, Ta iwan, Hong Kong, Spa in, Ger many, and Singapore— can now use inter national mobi le numbers to sign up for and use t he GCash app. Kuwa it and Saud i A rabia w i ll follow suit in t he next half of 2024.
“to put Vietnam on t he map in ter ms of climate f inance” and t he countr y’s strateg ic location in Asia are creating investor interest, Jacobs sa id. He noted that “there’s more to be done in ter ms of the reg ulator y env ironment for g reen and blue assets” in Vietnam and “ it’s going to take some time.”
Vietnam is estimated to have experienced a loss of about 3.2 percent of g ross domestic product in 2020 due to cl imate change, and t he costs of it are expected to escalate rapidly, accord ing to t he joint statement. In add ition to t he bonds, IFC w i ll prov ide $75 mi ll ion in loans to t he lender for small and med ium businesses, and to promote f i nanc i al inclusion, it sa id. Bloomberg News
Strengthening trade relations between sister cities
distance, Busan is even closer to Japan with only 220 kilometers separating this coastal metropolis from the Japanese city of Fukuoka. Its sister city in the Philippines is Cebu City, which is also our second biggest metropolitan area. Made famous in contemporar y times by the 2016 zombie apocalypse f i lm “Tra in to Busan” t hat became a global box-off ice hit, t his city can best be accessed by plane or by tra in. Its Gimhae Inter national A ir por t is just a one-hour fl ight f rom Greater Seou l’s two inter national a ir por ts in Gimpo and Incheon. But t he most convenient way to travel f rom Seou l to Busan is v ia t he KT X high-speed tra in operated by Kora i l, which only takes two and half hours w ith the scenic Korean countr yside as backd rop. Along t he KT X route f rom Seou l to Busan, t hree ot her cities stand out: Sejong, Daejeon, and Daeg u T he special self-gover ning city of Sejong also ser ves as t he de facto administrative capital of Sout h Korea since t he Prime Minister and 15 Cabinetlevel ministers hold off ice in t he new gover nment complex t here.
As Sout h Korea’s f i ft h la rgest metropol is, Daejeon is known for its research and technology institutions as well as its mounta ins and rivers in t he central par t of t he peninsu la. On t he ot her hand, Daeg u has a rich histor y t hat dates back to ancient times during t he Si lla dynasty, t hough it is more popu lar nowadays for its fashion and high-tech industries.
W hen South Korea was under Japanese occupation f rom 1910 to 1945, Busan developed into a moder n por t city. Today, its industrial parks attract many high-tech manufacturers whi le tourism is ga ining impor tance because of its beach resor ts and hot springs. Among its ot her major industries are shipbui ld ing, electronics, ceramics, paper, steel, chemicals, and automobi les.
T his week, t he 2024 Busan Inter national Mobi l ity Show (BIMOS) w i ll be staged at t he BE XCO or Busan Ex hibition and Convention Center BIMOS is held ever y two years since t he tur n of t he mi llennium to promote t he reg ional automotive industr y and galvanize t he local economy. It attracted more t han one mi ll ion v isitors prior to t he pandemic when it became an u ltra-large-scale event. However fewer ex hibitors a re expected t his year when BIMOS resumes for t he f irst time since 2018 after its 2020 and 2022 editions were cancelled due to Cov id-19. Accord ing to t he Korea Times, only si x global car makers w i ll par ticipate in t his year’s event: Hy unda i, K ia, Genesis, Renau lt, BMW, and Mini Automotive eng ineering professor
electric vehicles. One of t hem is KG Mobi l ity or KGM, which was for merly called SsangYong Motors unti l it was f u lly acquired in 2023 by t he KG Group, a Korean chaebol t hat also
BUSINESSMIRROR FILE PHOTO
‘Inside Out 2’ scores $100M in its
The Associated Press
NEW YORK—Weekend number two was just as joyous for Inside Out 2 The Pixar sequel collected $100 million in ticket sales in its second weekend, according to studio estimates Sunday, setting a new record for an animated movie in its follow-up frame in theaters. The previous best second weekend for an animated title was the $92 million for The Super Mario Bros. Movie. Only six movies ever have had better second weekends. In just a week and a half, Inside Out 2 has become 202 s highest-grossing ilm to date with $ 2 million globally, including $355.2 million in US and anadian theaters. That passes the $ 11. million worldwide total of Dune: Part Two. Inside Out 2 will likely blow through the $1 billion mark in about a week, which would make it the irst ilm since Barbie
WOMANIZER
THE actor has had a number of relationships and one failed marriage, and it is always him leaving his partner. At first, people thought that the break-ups were caused by different reasons as is the case with most people. But apparently, there was only one cause: The actor is a womanizer. His last girlfriend is lucky that he didn’t get her pregnant as he is also somewhat of a deadbeat dad. So why did he break up with his most recent girlfriend? He has allegedly found someone new, someone who is younger and prettier.
CAREER-ORIENTED
SO the actor and his gay benefactor have parted ways and he is now with a new gay lover. It’s not clear why he and his former partner split but it’s clear that it was not an amicable break-up. The actor used to have girlfriends. In fact, his two exes are very popular internet celebrities. His break-up with girlfriend No. 2 was quite controversial. Everyone thought he left her for another woman but the split was really because he
to do so. The extent of the Inside Out 2 success startled Hollywood, which had grown accustomed to lower expectations as the ilm industry watched ticket sales this year slump about 40 percent below pre-pandemic totals, according to data irm comScore, before Inside Out 2 came along.
The record haul for Inside Out 2, though, recalled past years when $1 billion grosses were more commonplace for the Walt Disney Co. It is also a much-needed blockbuster for Pixar, which a ter experimenting with direct-to-streaming releases, reconsidered its movie pipeline and approach to mass-audience appeal.
Now, Inside Out 2, which dipped a mere 35 percent from its $154 million domestic debut, is poised to challenge The Incredibles 2 ($1.2 billion) for the all-time top grossing Pixar release. It could also steer the venerated animation factory toward more sequels. mong its upcoming ilms is Toy Story 5, due out in 2026.
For theater owners, Inside Out 2 could hardly have been more needed. But it also reminded exhibitors of how feast-or-famine the movie business has become in recent years. Since the pandemic, movies, like Barbie, Spider-Man: No Way Home and Top Gun: Maverick have pushed ticket sales to record heights, but fallow periods in between box-o ice sensations have grown longer. Ticket sales over Memorial Day last month were the worst in three decades.
Some of 2024’s downturn can be attributed to release-schedule juggling caused by last year’s writers and actors strikes. The biggest new release over the
chose his gay benefactor over her. The actor is very careeroriented. He likes being in a relationship but for him, work is more important.
POLITICIAN OR INFLUENCER?
THE politician has had two relationships with different celebrities, something that isn’t unusual. However, what is
weekend was e f Nichols’ motorcycle gang drama
The Bikeriders, a ilm originally slated to open in 2023 before the actors strike prompted its postponement.
The Bikeriders, starring Jodie Comer, Austin Butler and Tom Hardy, came in on the high side of expectations with $10 million from 2,642 venues in its opening weekend. The Bikeriders, which cost about $35 million to produce, was originally to be released by Disney before New Regency took it to Focus Features last fall.
The strong business for Inside Out 2 appeared to raise ticket sales generally. Sony Pictures’ Bad Boys: Ride or Die held well in its third week of release, collecting $1 million. It remained in second place.
The Bad Boys sequel, starring Will Smith and Martin Lawrence, has grossed $146.9 million domestically thus far.
Next week, the sci- i horror prequel A Quiet Place: Day One and Kevin Costner’s Western epic Horizon: An American Saga—Chapter 1 will hope some of the Inside Out 2 success rubs o f on them.
Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore.
1. Inside Out 2, $100 million
2. Bad Boys: Ride or Die, $1 million 3. The Bikeriders, $10 million 4. , $3.6 million 5. Kingdom of the Planet of the Apes, $3.6 million
If, $2. million The Exorcism
unusual is that he has a videographer and photographer with him at all times, and he is filmed while working and at leisure. These videos and images are then posted on his social media platforms. The images and videos are professionally shot so they are beautiful. But what is strange is how an elected official can have so much time to be working on his being an influencer instead of serving the people as he should. There are rumors that the politician is currently wooing an actress.
LOOKING FOR A HIT PROJECT
The actress has had one flop project after another and when she renewed her contract with her current network, it was reportedly at a huge discount from her former talent fees. But the actress is far from being a has-been. She is still soughtafter as an endorser and her social media presence is very strong. It’s just that she hasn’t had good projects lately. There are rumors that she is looking for a good movie project, one that would get her back on top, but so far there are no offers. So she is frustrated but not giving up.
By Eugenia Last
Put
leave you at a loss when something requiring extra cash surfaces. Be cautious who you associate with, and refrain from making unrealistic promises. Leave yourself open to take advantage of learning something that can help you get ahead or expand your interests.
Information and new experiences will help you incorporate alternatives into your routine that spark your imagination and take you on a journey that can shape unique prospects and new beginnings while changing your perception and drumming up enthusiasm. Refuse to let anyone take advantage of your generosity. A practical approach to helping others will establish what you are willing to do and save you money. Be ready to walk away from one-sided relationships. Take control, learn as you go, and initiate changes to your routine or surroundings to encourage progress. Refuse to let anyone interfere with your personal growth, ambition or physical well-being. Gather information that will contribute to making better decisions regarding money.
Set your sights on the big picture, and work your charm and magic to get what you want. Refuse to let emotional matters drag you down when your finances and investments depend on having a sound mind and plan to protect against loss.
Size up situations and initiate change before someone else steps in and takes over. Make an impression and use your ingenuity and staying power, and you will outshine anyone trying to outmaneuver you. Avoid joint ventures and iffy investments.
Put your energy where it counts; don’t waste time on no-win situations, arguments or exaggerated circumstances. Collect your thoughts before you engage in talks or make promises, and you will make progress. Don’t believe everything you hear. Don’t take risks that can damage your reputation or counter your effort to excel professionally. Too much of anything will work against you. Be a good listener and observer, and be reluctant to make cash contributions.
Take a break, look around and be grateful. Concentrate on who you want to be and how you want to present yourself to others. A makeover will lift your spirits and attract attention. Don’t be a follower. Refrain from laboring over things you cannot change. Protect yourself and your belongings from unpredictable people and situations. Make changes that stabilize your life rather than letting emotions dictate what you do next.
You are generous, playful and ambitious. You are sensitive and powerful.
67.
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PBDN HOLDS 3RD CONFERENCE FOR DISABILITY INCLUSION IN THE WORKPLACE
THE Philippine Business and Disability Network (PBDN), a for-and-by business platform that provides barrier-free workplaces for Persons with Disability, will be holding its third annual conference this July 2, 2024, at the SMX Convention Center Pasay, titled Working Beyond Barriers: When Social Good Meets Business Sense
According to the UN Population Fund, “there are 1.5 billion persons with disabilities across the world, among them 80 percent living in developing countries.” An estimated 386 million of the world’s working-age people have some kind of disability, says the International Labor Organization. And in the Philippines, there are around 12 million people with disabilities according to the PSA. Unemployment among the PWDs is as high as 80 percent in some countries, illustrating the challenges that the PBDN Conference is attempting to tackle.
With over 60 member companies, a few notable PBDN partner members include Manulife, Visa, Coca-Cola, Bayer, Teleperformance, JP Morgan Chase, IBM, Citihub, Northern Trust, and TaskUs, to name a few.
The conference aims to bring together champions, industry experts, and advocates of disability inclusion in the workplace to facilitate meaningful discussions, share actionable practices, and inspire individual and collective action toward a shared goal of enabling inclusive workplaces for Persons with Disability.
This year’s conference features a talk by work and disability expert and ILO’s global business and disability network manager Jürgen Menze. The event will also feature speakers from the government to discuss the long-term and intangible benefts of an inclusive workplace. Alongside government representatives, PBDN member companies who have proven themselves to be champions of disability inclusion through their recruitment initiatives of Persons with Disability, as well as their establishment of Employee Resource Groups (ERGs) within their organizations, will also be showcasing their best practices to other delegates.
Ramil Dela Cruz, vice president for talent acquisition of JP Morgan Chase & Co., when asked if building an inclusive workplace for persons with disabilities was possible for a large company, shared: “We can be inclusive to Persons with Disability. Because that was the big question we had: Can we do it? So we’ve confrmed that as a whole organization with over 270,000 employees, we can do it. For the employees, we see that they can fourish in an organization like JP Morgan. That is a perfect marriage.”
Companies wishing to participate in the conference can make inquiries at pbdn@projectinclusion.ph.
Benilde Open Design + Art announces lineup of public programs
FOR the first edition of Benilde Open Design + Art, the De La Salle College of Saint Benilde presents a series of public programs with creative industry leaders. The talks are ongoing until June 28 at the Design + Arts Campus.
On June 25, there was a conservation among local trailblazers of the creative industries, called #thefutureiscreative, which will delve into the current landscape in the Philippines as they share trends, challenges, and opportunities.
On June 26, there will be a discussion, called Unleashing Unicorns: The Quest for PH Success Stories, which will be about discovering the next wave of billion-dollar startups, especially those in the more artistic and creative fields. In this panel discussion, speakers will share their extensive experience and proven strategies for identifying and nurturing high-potential startups as well as navigating the dynamic world of venture capital and startup investment.
The speakers include Jojo Flores, co-founder of Plug and Play Tech Center and Launchgarage Innovation Hub; Jay Fajardo, executive director of Ideaspace Ventures and QBO Innovation; Franco Varona, managing partner of Foxmont Capital Partners; and Paulo Campos, founding managing general partner of Kaya Founders. Benilde Open grantee Rambie Lim and Mahalina Foundation president Dr. Patricia Araneta will host a conversation on June 28 to talk about the unique experiences of designers, institutions and companies working with artisans and indigenous peoples (IPs). They will be joined by a lawyer who specializes in intellectual property rights. There will also be a workshop on the same day about defining spaces of belonging. Titled How to Make a Great Place, the workshop will be conducted by Ar. Katz Odulio of Kronos Design Studio. Participants will be asked to reimagine existing space within De La Salle College of Saint Benilde with the question “What can YOU do here?” All exhibitions under Benilde Open Design + Art run until June 29, 2024 from 10 am to 5 pm. More information is available at open.benilde.edu.ph and via @benildeopen on various social-media platforms, or e-mail at benildeopen@ benilde.edu.ph.
Editor: Gerard S. Ramos
Overcoming self-doubt
WHEN I switched careers, there were so many things I was insecure of that when I was promoted to become a manager, the irst thing that came out of my mouth was: “Why me?” That was when I reali ed that even a ter doing well in a new industry, I was still illed with self-doubt.
Self-doubt is a common and o ten crippling experience that can hinder personal and professional growth. It shows a lack of con idence in one’s abilities and decisions, leading to hesitation and fear of failure. I reali ed that if I wanted to unlock my potential and achieve success, I had to overcome self-doubt. A ter so many successes in my professional life, I still doubt myself from time to time. But with a little ine-tuning and self-motivation, I can bring myself out of selfdoubt into self-con idence.
The irst thing you need to do to move out of self-doubt is to recogni e and acknowledge that you will doubt yourself from time to time. You just have to be observant and discover the situations or tasks that trigger your self-doubt. Is it a challenging project at work? A new social setting? Or, is it the need to work with multiple stakeholders? Understanding the triggers can help you address them more e fectively. Once you know what triggers your self-doubt, acknowledge what you feel and accept that self-doubt is a natural human experience. Acknowledging your feelings without judgment is crucial for moving forward.
A ter acknowledging your feelings, reframe the way you think about yourself and your abilities to reduce self-doubt. You can do this by challenging your negative thoughts. When self-doubt creeps in, ask yourself if your fears are based on facts or assumptions and then replace negative thoughts with positive a irmations. For example, instead of thinking, “I cannot do this,” say, “I can learn and grow from this experience.” This way, you bring your consciousness to a level where you are not afraid to try and succeed. The key to doing this is to practice self-
compassion. Treat yourself with the same kindness and understanding that you would o fer a friend. Recogni e that everyone makes mistakes and faces challenges, but you can overcome it by changing your mindset. You also need to learn to set achievable goals to build con idence and reduce self-doubt. Do this by breaking tasks into smaller steps. Large tasks can be overwhelming and trigger self-doubt. Breaking them into smaller, manageable steps can make them seem more manageable. Do not forget to celebrate small wins no matter how small to build momentum and reinforce your belief in your abilities.
If time allows, develop new skills by enrolling in training modules, shadowing a colleague, or getting a mentor. Enhancing your skills can increase your con idence and reduce self-doubt because continuous learning helps you expand our knowledge and skills, which in turn builds con idence. Acquiring new knowledge and skills not only enhances your existing abilities but also helps you understand your learning process which can reduce self-doubt. The more you practice and persevere, the more pro icient you become in your current skills. Remember, con idence grows with experience and competence.
One of the things you also need to remember is to shi t your focus to your strengths. You can achieve this by making a list of your strengths and accomplishments to understand your true abilities. Re lect on past successes and the skills you used to
achieve them so that you can leverage your strengths to tackle new challenges. Knowing that you have successfully navigated di iculties before can give you the con idence to face new ones.
Stress management techniques can also help you stay calm and focused so you do not dwell on self-doubt. You can try mindfulness activities such as meditation, deep breathing, or yoga which can help you stay in the present and reduce anxiety. Part of overcoming self-doubt is managing stress not just mentally, but also through physical activities. A healthy lifestyle by getting regular exercise, eating a balanced diet, and ensuring adequate sleep can contribute to mental resilience.
Of course, you also need to surround yourself with supportive people and seek constructive feedback to help combat self-doubt. Build a support network by connecting with friends, family, or colleagues who believe in you and provide encouragement. Positive reinforcement from others can boost your con idence and provide the needed encouragement to complete tasks or projects. Since not everyone knows how to provide useful feedback, reframe criticisms into constructive insights to help you improve and grow. A lot of managers and well-meaning friends cannot give useful criticism so you need to view whatever they say as an opportunity to learn, rather than as criticisms. This way, you get the lesson without the judgment that goes with it.
Overcoming self-doubt is a journey that requires patience, practice and persistence. By recogni ing and acknowledging your self-doubt, reframing negative thoughts, setting realistic goals, seeking support, developing new skills, focusing on your strengths, and practicing mindfulness, you can build con idence and unlock your full potential. Remember, self-doubt is not a permanent state. But with e fort and determination, you can overcome it and achieve personal and professional growth. Acknowledge that you will doubt yourself from time to time but also believe in your ability to succeed.
HERE’S HOW YOU CAN IMPROVE YOUR HEALTH BY STOPPING NEGATIVITY AND EMBRACING OPTIMISM
The Associated Press
PRINCE Bhojwani never thought of himself as a negative person, until three trips to the hospital in one month forced him to reconsider.
Before May 201 , he was a healthy but chronically worried start-up founder who regularly did 20-mile (32-kilometer) bike rides. When he suddenly became barely able to walk, with blurry vision and spiking blood pressure, emergency room doctors suspected a stroke, but couldn’t pinpoint the cause of his illness.
A close friend, however—“one of the most optimistic people I know,” he said—pointed out Bhojwani o ten lacked faith that things would work out, and suggested that had pushed him to burn out.
“I started looking at the world very di ferently, literally the next day,” said Bhojwani, who lives in New York City. He started meditating and taking a moment every morning to feel grateful to be alive. He also found purpose by co-founding a nonpro it, Asana oices, a South Asian advocacy organi ation.
In the years since, he hasn’t had any similar health crises, despite working longer hours. He credits his newfound positive outlook.
“A ter there was a life-changing event, it kind of forced me to become optimistic,” he said. “I can’t even imagine living life the way I did back then.”
Optimism in itself is hardly a cure-all, but numerous studies over the decades have demonstrated a link between a positive outlook and
good health outcomes. A longer, healthier life? Experts say a standard for measuring someone’s relative optimism has long been the 10-question Life Orientation Test-Revised, published in 1994. (Sample question: On a scale of 1 to 5, respondents are asked how strongly they agree with the statement, “In uncertain times, I usually expect the best”?)
enerally, optimism is de ined as the “expectation that good things will happen, or believing the future will be favorable because we can control important outcomes,” said Hayami Koga, a postdoctoral research fellow at the Harvard Center for Population and Development Studies.
She was the lead author on a 2022 study that found optimism associated with longer life spans and a greater chance of living past 90. In another study, published in May in JAMA Psychiatry, she and other researchers said optimists generally maintained better physical functioning as they aged. They looked at 5,930 postmenopausal women over a 6-year period.
“We know that more optimistic people are more likely to live a healthier life, with healthier habits, eating healthier, having more exercise,” Koga said. Can I learn to be an optimist? Some people are born more optimistic but it can de initely be learned, too, said Sue Varma, clinical assistant professor of psychiatry at New York University and author of Practical Optimism: The Art, Science, and Practice of Exceptional Well-Being Optimism training, she said, can improve life
satisfaction and lessen anxiety.
“Even if you were not born with this natural disposition to anticipate favorable outcomes and see the glass as half full, there are skills that you can learn,” Varma said.
Begin by noticing how you deal with uncertainty, she said. Do you tend to worry? Assume the worst?
Try to reframe the thought in an objective manner.
“Is there a silver lining? Is this a problem to be solved or a truth to be accepted?” said Varma, noting that her book builds upon the work of Martin Seligman, one of the fathers of positive psychology.
Try to envision the best possible outcome and a step-by-step path to get there. Varma asks her clients to describe the path in detail until the problem is resolved, and encourages them to bask in their success.
“Then you are already approaching your day and your life as if things have worked out,” she said. “And you tend to be more proactive, more positive, more resilient, more buoyant in the face of obstacles.”
Finding a sense of purpose also can help.
Volunteering would be bene icial, but for those who can’t ind the time, Varma suggested trying to remake your role at work to align better with your interests.
That could be as simple as a very social person organi ing outings with co-workers.
Trying to master a skill, whether a sport, a musical instrument, a language or a hobby such as knitting or chess can help prevent you from ruminating on negative possibilities.
B5
PHOTO BY JONAS LEUPE ON UNSPLASH
PCPPI, MAX’S GROUP RENEW STRATEGIC PARTNERSHIP
PEPSICOLA Products Philippines, Inc. (PCPPI), the exclusive manufacturer and distributor of PepsiCo beverages nationwide, recently announced the renewal of its strategic partnership with Max’s Group, Inc. (MGI), the largest casual dining restaurant group in the Philippines. This reaffirmed alliance underscored both PCPPI and MGI’s commitment to enhancing dining experiences across the nation, as PCPPI will extend the offering of its renowned beverage brands to over 600 of MGI’s various restaurants nationwide.
Lyndon Cuadra, Chief Commercial Officer of PCPPI, expressed his enthusiasm about the partnership, stating, “Under the agreement, MGI’s restaurants will feature PCPPI products until 2025, reinforcing our 22-year partnership. This renewal ensures that MGI’s patrons can continue to enjoy their favorite meals complemented by our refreshing PCPPI drinks.”
Over the next two years, well-loved PCPPI brands like Pepsi, 7-Up, Mountain Dew, and Mug, as well as Lipton Iced Tea, Tropicana, and Premier will be served at MGI destinations such as Max’s Restaurant, known for
Park Inn by Radisson Bacolod’s Art Cove
Stages Inspiring Art Exhibit on Mental Health
THE importance of mental health regardless of age cannot be undermined. With summer kicking-in, students who are on vacation from school have less to do. As such, they should have productive activities to keep them busy and constantly hone their minds to prevent them from getting bored.
Licensed psychologist Heather Lyons, Ph.D. points out that “prolonged stretches of boredom
can lead to higher stress levels. Chronic boredom can increase your risk factors for mental health issues, leading to negative thinking patterns, impulsivity, and self-destructive behaviors.”
“The Tales of the Psyche: Navigating Our Mental Odyssey” is the newest exhibit at the Art Cove, Park Inn by Radisson Bacolod’s builtin art space. This is the eighth installation of the gallery, featuring the works of Sheila Marie
ArenaPlus makes an unstoppable turn to bring a fun-filled, entertaining Kaogma Festival 2024
ARENAPLUS, y our 24/7 sports betting app, created a fun-filled and truly entertaining festival experience for the Bicolanos as it delivered a successful week-long celebration for the Kaogma Festival 2024 in Pili, Camarines Sur. Celebrated from May 23 to 28, 2024 the Kaogma Festival honors the anniversary of the province of Camarines Sur’s founding through numerous activities both online and on-ground. As the event's major sponsor, ArenaPlus ensured a more exciting festival by bringing in games with premium prizes and entertaining shows by local and favorite artists despite the inclement weather.
their Sarap-To-The-Bones® fried chicken; New York-style pizza restaurant Yellow Cab Pizza Co.; popular doughnut shop Krispy Kreme; and the all-day dining favorite, Pancake House, among others. Robert Ramon F. Trota, President & Chief Executive Officer of MGI, emphasized the significance of the enduring collaboration, stating, “For over two decades, MGI and PCPPI have worked together to provide delightful dining experiences to our customers. Central to the partnership’s success is our shared commitment to offer diverse dining options, catering both to our loyal customers and the evolving tastes of the younger generation.”
He added, “We are proud to partner with PCPPI and with this renewed collaboration, we will continue to leverage each other’s strength and expertise, ensuring our initiatives resonate widely and create a lasting impact in the communities we serve.”
Present at the ceremonial contract signing were senior representatives from PCPPI, PepsiCo, and MGI, including Lyndon Cuadra, PCPPI Chief Commercial Officer; Nitin Bhandari, PepsiCo General Manager for the Philippines, Malaysia, and Singapore; Robert Trota, President and Chief Executive Officer of MGI; and Dave Fuentebella, Director at MGI. PCPPI distributes well-known brands such as Pepsi-Cola, Mountain Dew, 7-Up, Mirinda, Mug, Gatorade, Tropicana, Sting, Milkis, Lipton Iced Tea, Chum Churum Soonhari, and Premier. More information is available via www.pepsiphilippines.com
Basio, marking her third solo exhibition.
Basio hails from the city of Escalante, Negros Occidental. She is a retired teacher, meditator, yogini, and an active mindfulness advocate. Her works represent her battles with mental illness, self-empowerment, and choosing life over defeat.
“Art has always been a medium for expression, and through these works, I have attempted to capture the complexities, struggles, and triumphs associated with mental health. Each piece tells a story—sometimes of despair, sometimes of hope, but always of resilience,” said Basio.
Her artworks address mental health as a topic that touches everyone, whether directly or indirectly, and she hopes this exhibition sparks conversations, evokes empathy, and offers solace to those who might be struggling in silence.
“Here at Art Cove, we consider ourselves privileged to host such a profound and timely exhibit. In an age where the importance of mental health cannot be overstated, through Ms. Sheila’s art, we are encouraged to appreciate beauty and embrace the full range of our shared human experience,” said Archie Javellana, Park Inn by Radisson Bacolod’s Rooms Division Manager.
The ribbon-cutting last June 5, 2024 was led by the Tales of the Psyche artist, Basio, with honorable guests Art Association of Bacolod–Negros Treasurer Patty Jane Ku Ong, City Councilor of Victorias Joji Larraga, and was assisted by Park Inn by Radisson Bacolod’s Rooms Division Manager, Archie Javellana. The exhibit was also graced by the presence of Mr. Charlie Co, co-owner of Orange Project and a Filipino contemporary visual artist known for works with a strong socio-realist theme.
Tales of the Psyche will run until September 7, 2024. For inquiries and artwork purchases, guests may visit the hotel’s front desk or call +63 34 706 888.
sa Arena," grooved by ArenaPlus Astig Boys, with the brand's newest song, “Tara na Tropa sa Arena."
North-Diamond epsilon is the next frontier in online shopping
POISED to rev olutionize the way Filipinos engage in e-commerce, with a booming population of active online users and a robust demand for digital shopping experiences, the newly launched online store North-Diamond epsilon.E-Lifestyle Store by North-Diamond Consumer Goods Trading marks a pivotal moment for the company itself.
mercerized and super combed, and Linen that is gentle on the skin.
ArenaPlus added fun and entertainment as Gloc 9 sang the ArenaPlus jingle “Halina
This year's festival was filled with excitement from concerts, singing and dancing competitions, and sports events. Among the sports events were the mud race, bike race, 3x3 basketball, triathlon competition, and MMA fights between PH and Korea, which made for a more thrilling and exciting experience with ArenaPlus. Thousands of Bicolanos also enjoyed the five-day music festival with the special presence of well-known artists such as James Reid, Yassi Pressman, and Enrique Gil, as well as performances by country's best singers such as Ely Buendia, KZ Tandingan, and Adie; bands like Apo Hiking Society, Mayonnaise, and This Band; and rappers such as Flow G, Skusta Clee, and rap icon Gloc 9.
All activities were enjoyed with the games and merchandise given away for free and magic ticket prizes claimed in the ArenaPlus NBAthemed booth installed the whole week.
ArenaPlus’ sponsorship of Kaogma Festival 2024 is a testament to the brand's growing commitment to making any sports events and entertainment scene in the country truly enjoyable while keeping it fun. The brand fully understands its vital role in making the local and international sports and entertainment events in the country closer to the comfort of the Filipinos while giving out more opportunities to have fun and win prizes, anytime and anywhere. Make your NBA playoff experience extra with ArenaPLUS. To know more about the ArenaPlus NBA Magic Ticket, visit ArenaPlus’ social media pages and website at www.arenaplus.net
Characterized by its dedication, professionalism, and user-friendliness, NorthDiamond epsilon. promises to deliver a seamless and enriching shopping experience to its customers. Presenting a diverse array of carefully curated bedware collections sourced from Europe’s sustainable and luxurious brand fleuresse®, North-Diamond epsilon. ensures that consumers have access to top-tier products renowned for their quality, durability, elegance, and sophistication. The cornerstone of epsilon’s offerings lies in the finest top quality sustainable materials particularly the fleuresse® Black Premium Limited-Edition Collection. Elevate your sleep sanctuary with these finest European brands as well as experience the exquisite look and luxurious feel of 100 percent Mako cotton Brocade Damask. Lyocell, made from sustainable “wood” cellulose fibers, offers a unique level of comfort, moisture-balancing, and heat regulating. Interlock Jersey that boasts exceptional softness and suppleness, Swiss Satin that represents the pinnacle of classic satin woven from the finest cotton yarns with
With its new arrivals such as fleuresse® plaids multi-functional bedspread, fleuresse® colours flat sheet, fleuresse® comfort fitted sheet with power stretch function made of mako cotton and Lycra® fiber, and the variety of colors to choose from fleuresse® colours satin pillowcases, North-Diamond epsilon. Not only bringing both style and comfort to your bedroom but also promises a cozy and very relaxing sleep experience. Guaranteed more to come! Moreover, North-Diamond epsilon. Distinguishes itself through its innovative rewards and perks program designed to foster customer loyalty and engagement. With enticing incentives ranging from firstpurchase discounts to anniversary bonuses and a birthday reward-point system, NorthDiamond epsilon. Ensures that its valued customers are continually rewarded for their patronage. Furthermore, the introduction of tiered programs, from Silver, Gold, to Platinum tiers, promises to unlock a myriad of exclusive deals and exciting offerings for loyal customers.
Don’t miss out on this fantastic opportunity to enhance your shopping experience and indulge in the sophistication of fleuresse® Black Premium Collections. Always visit its webshop to explore all offerings and start earning your rewards points only at www. northdiamondepsilon.com.ph.
SHOWN in the photo during the ceremonial renewal event are (from left to right) PCPPI Chief Commercial Officer
Lyndon Cuadra, PepsiCo General Manager for the Philippines, Malaysia, and Singapore Nitin Bhandari, MGI President and Chief Executive Officer Robert Trota, and MGI Director Dave Fuentebella.
NEW SCHOOL BUILDING. Las Piñas City Mayor Mel Aguilar and Vice Mayor April Aguilar led the inauguration of the new four-storey building with 12 classrooms of Dr. Filemon C. Aguilar Memorial College of Las Piñas (DFCAMCLP). DFCAMCLP is the city’s government-funded college which is also known as the home of CPALE (Certified Public Accountant Licensure Exam) Top Notchers in the Southern Metro.
TALES of the Psyche Artist Sheila Marie Basio with her artworks at the launching of her third solo exhibition at Art Cove
Editor: Tet Andolong
KMC launches premium workspace facility in Clark Freeport Zone
TBy Rizal Raoul S. Reyes @ brownindio
HE workspace environment in the Clark Freeport Zone soared higher when KMC One West Aeropark, the premier flexible workspace destination in Clark Freeport Zone, recently launched the KMC Sky Club.
Michael McCullough, KMC’s CEO for Workspace Solutions and Cofounder, says the huge KMC Sky Club offers superior and exclusive work environment. Moreover, he says breathtaking views of the surrounding area
create a truly inspiring atmosphere, ideal for fostering creativity and collaboration.
With over 1,400 square meters, the KMC Sky Club is a perfect for companies searching for a dynamic
space to grow their business.
Flexibility and dedicated workspaces
MCCULLOUGH points out that KMC
One West Aeropark has a full grasp of the businesses’ needs whether they are big or small. For those seeking a dedicated workspace, the KMC Sky Club offers premium options within its expansive area. Further, the adjacent 5th floor provides an extra 2,700 square meters, comfortably accommodating up to 499 workstations. This level caters to a wider range of flexible workspace needs.
Besides the stunning views and modern amenities, McCullough says KMC promotes the well-being of its
ABy Roderick L. Abad
LL the local government units (LGUs) in the country are admonished to streamline and digitalize their land use and urban development planning in order to build smart, green, resilient, and inclusive human settlements.
Mylene A. Rivera, director IV of Department of Human Settlements and Urban Development (DHSUD)Environmental, Land Use and Urban Planning and Development Bureau, underscored that the problem in the past is that most land use plans were taken for granted, meaning they are prepared, but not necessarily used as the basis for development planning.
CENTURY Properties Group has topped off Barbados Tower, the third condominium building within The Resort Residences at Azure North on June 19, marking a milestone for the company’s project in San Fernando, Pampanga. This latest addition is a 27-story residential tower slated for completion in 2025.
occupants. The 11th floor, according to him, caters to smaller teams or satellite offices with an additional 200 seats. McCullough says KMC Aero Park has also put premium on convenience by providing the occupants with sleeping quarters, offering onsite accommodations for both male and female employees. A dedicated clinic and lactation room further demonstrate KMC’s commitment to providing a holistic work environment that supports employee health and productivity.
Prime location brings success FOR a business to succeed, a strategic location is the key. KMC One West Aeropark is strategically located
within the Clark Freeport Zone in Mabalacat, Pampanga. Directly across from the renowned Clark Medical City, this location offers unbeatable convenience. Further, the building is conveniently situated near the Subic Clark Tarlac Expressway (SCTE X ) exit, providing a perfect balance between a thriving business hub and easy access to leisure options.
McCullough spoke about the expansion’s significance.
“We are thrilled to unveil this expansion and offer businesses a truly unique and elevated workspace experience,” said McCullough. “With its combination of spaciousness, stunning views, and top-notch amenities, our expansion at the 11th floor
and the KMC Sky Club is designed to empower businesses to reach new heights.”
It’s a community KMC One West Aeropark is more than just a workspace provider—it’s a community. As a leading provider of flexible workspace solutions in Clark Freeport Zone, KMC caters to the needs of businesses of all sizes. Offering a variety of office spaces, state-of-the-art amenities, and a vibrant community atmosphere, KMC fosters a space where businesses can thrive. Furthermore, KMC stands out for its commitment to sustainability, ensuring a positive impact on the environment.
ient Cities Project at the Seda Manila Bay Hotel in Pasay City.
Given this, the director challenged the LGUs to be more serious about their plan preparations and, as much as possible, simplify and digitize the process.
She also suggested that all the plans required of them for utilization of land and urban development should be lessened and consolidated.
Rivera cited, for instance, the basic ecological profile—a pre-requisite for all the plans of LGUs— that is so complex and tedious to accomplish.
government agencies that produce crucial data to put them all together in just one platform called the PlanSmart—a digital channel and integrated database system for land use and urban development plan formulation, implementation, and monitoring.
“Hopefully, once you have all those data [under the PlanSmart], it becomes easier for LGUs to prepare not just probably land use plans but, eventually, they’ll also be used for other development or sectoral plans,” she said of the platform that is set for roll out next year.
decision-making, actual planning and focusing on what best strategies can be implemented,” Rivera noted.
Believing that urban development requires a “whole of government, whole of society approach”, DHSUD is pushing for the creation of a Planners Network from the local, regional up to national level.
Following the completion of Monaco, Bali, and Barbados towers, the company is set to introduce its first mid-rise residential development at Azure North. The first mid-rise building of this upcoming project will feature 375 units plus extensive water-park amenities, adding a distinctive dimension to resort living.
“We extend our heartfelt gratitude to our buyers, the cornerstone of Azure North’s success. Their belief, commitment, and resilience have been pivotal throughout this journey with us,” said CPG Vice Chairman John Victor Antonio. “At Century Properties, we take pride in providing world-class amenities in San Fernando, Pampanga. No longer do you have to travel far to experience a premier, one-of-a-kind resort-inspired development with beach-like waves and a pool with pristine white sand. Azure North is not only a place to live; it is a place to thrive and enjoy.
“Our commitment extends beyond merely providing homes; we aim to fulfill the aspirations of Filipinos by offering amenities that match their desired lifestyle,” he added. With over 38 years in the real estate industry, Century Properties continues to deliver exceptional living spaces, reaffirming its dedication to creating New Generation Real Estate and enhancing the quality of life for Filipinos.
For more information, visit Century Properties’ official website at www.centuryproperties.com
“We commenced the construction of Azure North’s first tower, Monaco, in 2018, followed by Bali in the same year,” shared Carlo R. Antonio, Managing Director of Century Properties Group. “These two towers comprise a total of 1,606 units across 29 floors. The Barbados Tower will add another 820 units, with a capital expenditure of Php 1 billion. Together, the three towers will offer 2,426 units.” Azure North builds on the success of the Azure Urban Resort Residences in the South, bringing the appeal of a coastal haven to a new market. A key attraction of Azure North, which is a first of its kind in the North of Metro Manila, is its man-made beach, featuring a white sand beach lagoon and an inviting wave pool, alongside an exclusive clubhouse. This innovative concept transforms urban living, providing an accessible luxury retreat for residents and short-term guests alike. Strategically located right by the San Fernando Exit of NLEX and near major malls, commercial establishments, and Clark International Airport, Azure North is an enticing option for those seeking a convenient summer getaway. With the Skyway extension, the development is now only a 90-minute drive from Metro Manila, enhancing its appeal for city dwellers.
“We’re very good at making plans. But we’re very poor at implementation,” she said during the recent first leg of the two-day “Breakthrough Resilience: An Urban Resilience Conference” conducted by the United States Agency for International Development (USAID) Climate Resil-
IN the country’s humid, tropical climate, effective HVAC solutions are essential for ensuring comfort and satisfaction in the hospitality industry. LG Electronics understands exactly what is required to meet this demand, providing tailored solutions to enhance guest experiences and operational efficiency. From guest rooms to public areas, LG’s advanced HVAC systems ensure a perfect balance of comfort, efficiency, and design integration, elevating the guest experience and enhancing building value.
Hotels consist of various spaces, each with distinct characteristics and requirements. LG’s HVAC solutions are designed to address these needs comprehensively, ensuring optimal comfort and satisfaction for all guests. Whether it’s the guest rooms, lobby, restaurant, or kitchen, these systems deliver superior performance and adaptability.
LG’s HVAC solutions are not just about creating a pleasant indoor environment. The systems are engineered to integrate seamlessly with hotel interiors, offering a harmonious design that doesn’t compro-
“The data comes from different government agencies. So before the LGUs can prepare those plans, the hardest part is collecting those data. They have to ask and request from each and every government agency,” she said.
DHSUD has collaborated with the Department of Science and Technology, Department of Environment and Natural Resources, and other
Data sharing and integrating one database using technologies like artificial intelligence (AI) will be helpful as well, she added.
“We’re very fortunate that we are in the stage now that such technology is available. So make use of AI to make things easier for local government units, so that their focus will no longer on data collection and report preparation, but now more on
“What we wanted to do is to avoid duplication. Yet we wanted to promote replication of efforts and best practices such as what Iloilo is doing very commendable on human development, housing, environment management, and ecosystem based strategies,” she said.
“These are some of the strategies that we need to work together. So DHSUD is encouraging collaboration with not just the government agencies, private or peoples’ organizations, but together with local governments at the fulcrum so that we can really implement programs that actually make a difference,” she stressed.
By Josef Ramos
world’s No. 8 and host Latvia on July 3 and No. 23 Georgia on July 4 in pool play of the last men’s basketball qualifier for the Paris Olympics.
“I don’t expect them to be ready at this point that’s why we keep practising and playing friendlies,” added Cone who’s working with a 12-man lineup of naturalized player Justin Brownlee, Scottie Thompson, Japeth Aguilar, Mason Amos, June Mar Fajardo, Chris Newsome, CJ Perez, Calvin Oftana, Dwight Ramos, Kai Sotto, Carl Tamayo and Kevin Q uiambao.
Thompson, however, missed the game against the Alex Cabagnot-led Taiwanese club because of back issues with Brownlee finishing with 12 points and 15 rebounds.
Gilas called for practice starting last Friday at the Inspire Sports Center in Calamba and will fly to Istanbul on Tuesday for two friendlies against Turkey and Katowice (Poland) on Thursday and Saturday, respectively.
Cone said there’s a lot of homework for the team for the OQ T the winner of which will make it to the Olympics.
“We were concerned about winning or losing the game,” he said. “We want to play a certain style and they did a really good job of throwing a lot of defenses like box-in-one and zones, and things that we prepared for the last three days.”
Six teams are in Latvia with Brazil, Cameroon and Montenegro, all powerhouse nations, playing in Group of the qualifier where only the top team will advance to Paris where the world’s top 12 teams are vying for the gold medal.
“We have a lot of work to do but we have enough time ahead of this,” said Cone, who has as deputies Jong Uichico and his former import, Sean Chambers.
“We just have to continue working better and better as we move forward although we are not where we want to be yet. But we will.” The Mustangs, handled by former Mahindra (now Terrafirma) coach Chris Gavina, heeded the invitation from the Samahang Basketbol ng Pilipinas for the friendly as they prepare for the Asian Tournament they’re hosting in Taipei late next month.
ELIANA MENDOZA and Kvan Alburo extended their domination of the 8 to 9 years old category Tuesday in the International Container Terminal Services Inc. Junior Philippine Golf Tour (ICTSI JPGT) Bacolod Visayas Series to clinch spots in the Philippine Junior National Match Play Championships. Mendoza was impressive with an 84 for a 169 total to win the 36-hole competition for the second consecutive week, outperforming in the process Ana Marie Aguilar, who posted a 236 after a 114, with Faith Reosura placing third with a 238 after a 120 at the tight Bacolod Golf and Country Club.
20 and still counting for Paris Olympics
By Aldrin Quinto
SWIMMERS Kayla Sanchez and Harold Hatch and judoka Kiyomi Watanabe clinched berths to the Paris Olympics and so did Bianca Pagdanganan and Dottie Ardina who are giving the Philippines a potential fighting chance in golf at the Paris Olympics that open on July 26.
“It’s 20 and still counting for the Philippines’ 100th year participation in the Olympics,” said Philippine Olympic Committee president Abraham “Bambol” Tolentino on Tuesday from Metz, France, where he’s overseeing the pre-Paris training camp at La Moselle with chef de mission Jonvic Remulla.
“Great news, and we can even ask for more,” he said. “Each day, as the countdown to the Olympics dwindles, the morale goes higher and higher.”
The Philippines now has 20 athletes for Paris, surpassing the 19 bets who saw action in the one-year delayed Tokyo 2020.
Alburo bag
berths
to
Sanchez will swim in the women’s 100 meters freestyle and Hatch qualified for the men’s 100 butterfly under the World Aquatics’ universality quota, while Watanabe will be in her second consecutive Olympics after making through the continental qualification route in women’s -63 kgs.
Pagdanganan will also be in the Olympics for the second time while Ardina is a first-timer in golf that’s been on the medal program for the third time since Rio de Janeiro 2016.
The top 60 in the Olympic rankings are playing at the Le Golf National in August.
The 26-year-old Pagdanganan, a member of Arizona Wildcats team that won the National Collegiate Athletic Association title in 2018 and now one of the big hitters in the Ladies Professional Golf Association (LPGA), qualified as the 37th player in the International Golf Federation’s Olympic rankings.
A double medalist—team gold and individual bronze—for the
JPGT national finals
“I’m very happy, this win means a lot to me because I got to make my family proud,” said the 9-year-old Mendoza from Cebu, who amassed 30 points for her twin victories, including her victory in Iloilo last week. Fellow Cebuano Alburo mirrored Mendoza’s success with a runaway triumph at the Iloilo Golf Club. He dominated the field, including Benedict Rolida and Benito Tiongko, with a two-day score of 170 after an 87 marked by birdies on Nos. 2 and 4 in hot and humid conditions.
Rolida finished second with a 195 after a 95, while Tiongko came in third at 198, also after a 25-over (95) card.
Zuri Bagaloyos capped the
Remembering Jerry West
Cebuanos’ sweep in the second leg of the Bacolod series organized by Pilipinas Golf Tournaments Inc.
The Singapore School-Cebu student secured a commanding win in the girls’ 10-12 division to avenge her defeat to Cailey Gonzales in Iloilo.
Bagaloyos, tied with Gonzales after the first round, pulled ahead with a frontside 39 and surged further with a birdie on No. 11 and a series of pars, while Gonzales struggled with five straight bogeys from No. 10.
“I worked hard for this win, and it paid off,” said Bagaloyos, whose impressive 74 gave her a 156 total and a seven-stroke victory.
Philippines in the Jakarta 2018 Asian Games, Pagdanganan is 113th in the world rankings. She tied for seventh at LPGA’s Mizuho Americas Open last month and 41st in the recent major, KPMG Women’s PGA Championship.
The 31-year-old Ardina, an Epson Tour winner who also has status in the LPGA, wound up 57th on the Olympic list with a world ranking of 298.
Ardina is also a winner on the Australasian Tour and like Pagdanganan a titlist on the Ladies Philippine Golf Tour.
At the Kasumigaseki Country Club in Saitama in 2021, Pagdanganan tied for 43rd at one-over.
The top 15 players on the official world golf rankings are eligible for the Olympic Games with a maximum of four golfers from each country—from the 16th to 60th places, two players are eligible for each country that does not have two players in the top 15.
Yuka Saso, meanwhile, is set for her second Olympic appearance in
the Olympics wearing the Japanese flag—she represented the Philippines in Tokyo 2020.
The Olympics will be held from July 6 to August 11, with the women’s golf competition set August 7 to 10. No Filipino made the men’s tournament set August 1 to 4.
With 20 athletes, the Philippines already surpassed Tokyo 2020 where Hidilyn Diaz-Naranjo won the country’s first Olympic gold medal.
“We’re expecting more,” said Tolentino as he awaits an official announcement from World Athletics on who will join world No. 2 men’s pole vaulter Ernest John “EJ” Obiena in Paris.
“We’re chasing more history, we’re setting the ante higher,” said Tolentino, whose target is to match or surpass the one gold, two silver and one bronze medals clinched in Tokyo.
The other Filipino qualifies for Paris are weightlifters Vanessa Sarno, John Febuar Ceniza and Elreen Ando; boxers Aira Villegas, Hergie Bacyadan, Carlo Paalam, Nesthy Petecio and Eumir Felix Marcial; rower Joanie Delgaco; fencer Samantha Catantan; and gymnasts Carlos Yulo, Emma Malabuyo and Levi Ruivivar.
KIYOMI WATANABE will be competing in her second consecutive Olympics and expect the country’s bet in women’s -63 kgs of judo to perform better in Paris.
“She’s so excited and she promised to perform better than the last time,” her mother, Irene, told BusinessMirror when she and her daughter paid the Philippine Sports Commission offices in Manila a visit on Tuesday with Philippine Judo Federation Inc. President Ali Sulit.
“She said that Tokyo was a little bit difficult, but with her experience, she believes that she’s heading for improvement,” the elder Watanabe added.
Watanabe exited early in Tokyo when she lost to Spain’s Cristina Cabana via a 38-second ippon (winning point) in the round of 32. Sulit confirmed to both Tolentino and BusinessMirror the qualification for Paris of the 27-year-old Watanabe, silver medalist at the Jakarta 2018 Asian Games, via continental quota. Sulit said Watanabe will return to Tokyo to resume training before flying to Paris a few days before the Games start on July 26.
Watabane, Sulit added, won’t join the Team Philippines training camp in Metz, France, because her sparring partners are all in Japan.
“She’s competed in a lot of tournaments in Japan and there’s an abundance of sparring partners there,” Sulit said. Josef Ramos
