BILLIONS worth of remittance inflows sent by Filipinos overseas to their families in the Philippines have helped plug the country’s current account deficit in the past decade.
This is according to the latest economic brief released by US-based GlobalSource Partners Country Analysts Diwa Guinigundo and Wilhelmina Mañalac.
Based on their data, OFW remittances between 2014 and
FBy Bless Aubrey Ogerio
2023 grew an average of 3.9 percent and supported the current account by helping plug the country’s “chronic deficit” during the 10-year period.
See “Remittances,” A2
The “Like, follow, buy” study by Unbox Group in collaboration with Ripple8, which polled 1,110 Filipinos between the ages of 12 and 43, found that an overwhelming majority use social media sites to look up evaluations. Study: Influencers validate, not dictate Pinoys’ purchases
ILIPINO consumers are increasingly looking to social media influencers to validate their purchase decisions rather than being persuaded by them, a digital marketing agency revealed.
See “Influencers,” A2
MORE young girls are not in school, at work or training compared to boys in the Philippines, according to the World Bank.
In a data blog, World Bank Gender Group Data Scientists
Anna Tabitha Bonfert and Divyanshi Wadhwa said investing in girls is crucial in attaining both economic growth and poverty reduction targets.
Bonfert and Wadhwa said keeping girls in schools and helping them become leaders in business and politics will
benefit local communities and whole economies.
“Investing in adolescent girls not only transforms individual lives but also generates significant economic and social returns that benefit us all,” the data scientists said.
“Healthy and educated adolescents can contribute to their families, communities and societies at their full potential driving economic growth and positive social transformation,” they added.
See “Girls,” A2
Tthe decision of the Supreme Court or even by Congress. If Congress passes a law telling us to stop and give back the money, we will do so. If the Supreme Court says the same thing, we will do so,” Recto said at the DOF’s budget hearing in the Senate on Tuesday.
Shiela Guo admits Chinese birth, details exit from PHL
By Bless Aubrey Ogerio
SHIELA GUO, the sister of dismissed Bamban Mayor Alice Guo, contradicted her Philippine birth certificate by stating at the Senate hearing on Tuesday that she was born in China.
Shiela, who matches the same fingerprints as Zhang Mier, a Chinese citizen who was deported for undesirability and misrepresentation, acknowledged that her birth certificate stating she was born in the Philippines is inaccurate.
Ako hindi [sa Pilipinas pinanganak],” Shiela said when Sen. Risa Hontiveros asked her about her birthplace.
Shiela confirmed her father provided the document but expressed uncertainty about how she acquired Filipino citizenship.
Hindi ko po alam kasi binigay lang po ni daddy sa akin yun [I don’t
Based on data from the Philippine Statistics Authority (PSA), there were a total of 1.567 million young Filipinos—both male and female aged 15 to 24 years old—who were considered NEET as of April 2024.
Citing data from the International Labor Organization (ILO), Bonfert and Wadhwa said 15.4 percent of girls aged 15 to 24 are not in education, employment or training (NEET) while only 10.2 percent of boys are in NEET.
know because my daddy just gave the document to me],” she stated. When Hontiveros asked about the person who helped her obtain citizenship and if it was necessary, Shiela was unable to provide a definitive answer. Hontiveros noted that China does not recognize dual citizenship, as stated in its Nationality Law.
The senator also questioned Shiela about her two passports, one Chinese and one Philippine: “Sabi mo nga meron kayong dalawang passport, kaano-ano ba si Alice Guo?”
Shiela responded that Alice is her sibling, according to her father. But when asked about her father, she stated, “ Hindi siya tunay na tatay ko [He is not my real father].”
She named Jian Zhong Guo as her father but said that while a certain “Amelia” is listed as her mother on her Philippine birth certificate, her
Unfortunately for them, Bonfert and Wadhwa said, women being considered to be part of the NEET becomes a permanent status compared to their male counterparts.
“Not only are NEET rates higher for women, they are also more likely to be permanent. This is apparent when comparing NEET rates of young adults [15 to 24] with the population of aged 25 to 34,” the data scientists said.
“The NEET rates for older men [ages 25 to 34] are lower than young men [ages 15-24]; the rates for women remain nearly the same across the two populations. In other
real mother is in China.
The senator inquired about her arrival in the Philippines in 2001 and whether Shiela was aware of her Chinese origins.
“ Sabi kasi ni daddy, tulungan ko siya sa business niya [Daddy asked me to help him in his business],” Shiela said.
In 2005, Angelito Guo—the same individual who submitted Alice’s delayed live birth registration— filed a corresponding registration for Sheila.
Sheila registered in 2005 and began traveling with a Philippine passport as early as 2008.
Escape route
ACCORDING to Shiela’s testimony, she and her siblings, Alice and Wesley, left their farm in Bamban, Tarlac, and traveled for five hours to a Luzon port, arriving around midnight.
words, as men grow older they appear to engage with school, work, or other forms of training; women appear not to,” they added.
Bonfert and Wadhwa said globally there are 1.2 billion young people aged 15 to 24 years old. Their numbers are expected to grow in the coming years.
This is composed of 635.04 million girls and boys aged 15 to 19 years old and 606.59 million young people aged 20 to 24 years old.
Of this number, some 600.63 million are girls. This is composed of 307.04 million aged 15 to 19 years old and 293.59 million aged 20 to
GOCC. . .
Continued from A1
They first boarded a small white boat, then transferred to a larger boat with fishing nets, and finally to a small green or blue boat bound for Malaysia.
Leaving Malaysia by plane, they went to Singapore and then took a ferry to Batam, Indonesia, along with Alice’s companion and Wesley’s girlfriend Katherine Cassandra Li Ong. The latter, an executive of Lucky South 99 which is behind the Pogo hub in Porac, Pampanga, is being detained in the House of Representatives, which wants her to testify in their parallel hearings on illegal Philippine Offshore Gaming Operators (Pogos).
The National Bureau of Investigation noted that Shiela’s passport, reviewed upon her return to the Philippines on August 22, had a Malaysian immigration stamp but no Philippine exit stamp.
24 years old.
“Despite progress in recent years, our data show that girls continue to be more vulnerable than boys during adolescence. They face high levels of child marriage and adolescent fertility,” Bonfert and Wadhwa said.
“They drop out of school at higher rates and do not enter the formal workforce as frequently. If you care about ending poverty, then ending the barriers holding back adolescent girls is a critical step,” they added.
The data scientists said it is typical for one in five women of ages 20 to 24 to be married before reaching 18. In some countries, however, more than half of the women are married before 18.
Based on data shared by Bonfert and Wadhwa, women in the Philippines who are married by the time they reach 18 years old is 16.5 percent.
“Child marriage not only disrupts childhoods, but is associated with lower educational attainment, an increased risk of early pregnancy, withdrawal from the labor force, diminished earning prospects, and limited voice and agency throughout life,” the data scientists said.
Apart from child marriages, adolescent fertility remains high, particularly in low-income countries. Nonetheless, women authors of the blog noted that the trend is already on a steady decline.
Adolescent fertility rate, or the teenage pregnancy rate more informally, is the number of births per 1,000 women ages 15 to 19.
The data scientists said this is associated with increased complications from childbirth, contributing to maternal mortality, low baby birthweight, and dramatically worse child survival.
Based on 2022 data, adolescent fertility in the Philippines is pegged at 48.1 births out of 1,000 women aged 15 to 19 years old.
PSA data showed that between 2000 and 2018, a total of 3.295 million babies were born to mothers aged 15 to 19 years old.
This translates to around 173,435 births to these girls every year, or an average adolescent birth rate of 37.34 percent during the 19-year period.
Cai U. Ordinario
Influencers. . .
Continued from A1
About 86 percent of respondents stated they use Facebook, TikTok, Instagram and YouTube to do product research, emerging as main tools to look for reviews and feedbacks.
This, after Committee on Finance Chairperson Sen. Grace Poe asked if the Supreme Court already released a TRO.
Earlier, the Philippine Medical Association (PMA), Senator Aquilino “Koko” Pimentel III, former Finance Undersecretary Cielo Magno and other groups filed a 38page petition asking the Supreme Court to issue a TRO and/or writ of preliminary injunction to prevent the transfer of PhilHealth funds to the Treasury, and preserve/restore the status of petitioners prior to the transfer of P20-billion from PhilHealth to the Treasury last May 2024.
The respondents—Recto; the House of Representatives represented by Speaker Ferdinand Martin Romualdez; Senate of the Republic of the Philippines, represented by Senate President Francis Chiz Escudero; Executive Secretary Lucas Bersamin; and PhilHealth, represented by its President Emmanuel Ledesma Jr.—are required to file their comment to the petition.
Last week, PhilHealth remitted P10 billion to the Treasury, on top of the initial P20-million transfer on May 10, 2024, despite calls not to touch the funds.
Recto said the third tranche of PhilHealth’s fund transfer (P30 billion) will be on October 16, 2024, and the remaining P29.9 billion will be given on November 24, 2024.
Recto said the schedule could be earlier, depending on PhilHealth’s cash flow.
To recall, PhilHealth and PDIC were ordered to remit P89.9 billion
Remittances. . .
Continued from A1
“The current account deficit stood at $11.2 billion in 2023 and $1.8 billion in the first quarter of 2024. In many ways, OFW remittances help stabilize volatile capital flows and the peso-dollar exchange rate,” Guinigundo and Mañalac said.
The analysts said OFW remittance flows in the past 10 years reached $323.7 billion, or an annual average of $32.4 billion.
Apart from stabilizing capital flows, Guinigundo and Mañalac said OFW remittances have helped boost the country’s GDP growth. Remittances in 2023 accounted for as much as 8.5 percent of nominal GDP.
“This is a significant magnitude because by such remittances and the funding they provide to the family, personal consumption expenditures have remained the biggest component of output,” Guinigundo and Mañalac said.
“There is relative stability in OFW employment and remittances because most of the OFWs are employed in services and sales, crafts and related trades. Many of them are also professional engineers
“They want to buy something. Now, when they watch an influencer’s content, it only confirms their desire to buy a product,” the Unbox Group stated during the study’s presentation at the Manila Polo Club on Monday, August 26. The report also emphasized the significance of “authenticity” in influencer marketing. Consumers are more inclined to believe influencers who “offer honest reviews” and “genuinely endorse products.”
and P110 billion, respectively, to the Treasury this year after the DOF issued DOF Circular 0032024.
Despite criticisms among lawmakers, medical groups, the Church and the public for violating the Universal Health Care (UHC) Law, former Finance secretaries support the DOF’s move to utilize excess funds of state-run corporations to finance government projects.
“We believe this move will bring substantial benefits to the Filipino people. Mobilizing these excess funds will enable important public projects that can strengthen our economy and ensure long-term gains through more jobs, higher incomes, and reduced poverty,” they said in a statement issued on Tuesday.
The former secretaries said it is in the public’s best interest for a portion of excess funds to be mobilized “efficiently” instead of imposing additional taxes or increasing public debt and burdening future generations.
“Responsible public financing requires considering opportunity costs. If unused funds are left dormant, the potential benefits are lost. Every unused peso represents development denied for Filipinos,” they said.
The public cannot afford the costs of delaying projects, such as diminished public services, slower growth, more debt, and higher deficits. “No responsible DOF Secretary would allow such an outcome,” the ex-Finance chiefs.
Former secretaries Cesar E. A. Virata, Roberto De Ocampo, Jose T. Pardo, Alberto G. Romulo, Jose Isidro N. Camacho, Margarito Bustaliño Teves and Cesar V. Purisima signed the statement.
and architects, accountant and IT experts. A handful of them are in management,” they added. Guinigundo and Mañalac said the outlook for OFW remittances remains positive due to forecasts like that of the International Monetary Fund (IMF) which estimate faster growth in advanced economies.
The analysts said based on IMF’s estimates, growth is expected to rise from 1.6 percent in 2023 to 1.7 percent in 2024 and 1.8 percent in 2025. These advanced countries are the locations where OFWs are usually hosted. Data showed in terms of remittance sources, United States alone comprised 36.4 percent.
Guinigundo and Mañalac said remittances from the Middle East and Asia followed, contributing 22.1 percent and 20.4 percent of the total, respectively. They added that OFW remittances trended upward for this period, except in 2020, when remittances declined by 0.8 percent as a result of the Covid-19 pandemic.
Funds sent through the formal banking channels made up the bulk of total remittances, comprising about 90 percent of the total.
prefer longer reviews over shorter, more promotional information was one of its most surprising findings.
“It’s about being real. It’s about being genuine...This is the type of communication and strategies that would work to convince them [consumers] to actually connect with our brands today,” said Carlo Ople, founder and chairman of Unbox Group. The conclusion of the research that Filipino customers
Full-length reviews were chosen as the most influential sort of content by roughly 52 percent of respondents, while simple plugs that are placed into videos and recommendations came in second and third, respectively. It is also discovered that 46 percent of the respondents who follow influencers have bought things that they have suggested. The research added that almost 90 percent of Filipino social media users follow content creators.
Social media creators, however, have expanded their influence on a range of products like food and cooking, education and daily vlogs, which have seen a marked increase in consumer interest. The margin of error of the study is at 3 percent with a 95 percent confidence level.
Tolentino to LTO:
Fix backlog first
By Butch Fernandez @butchfBM
ITING the Land Trans -
Cportation Office’s massive backlog in issuing license plates, Sen. Francis Tolentino expressed opposition to the plan of a regional office of the agency to arrest motorcycle riders using improvised or temporary plates starting September 1.
“Give motorcycle riders a break. They are not at fault for the lack of official license plates, which is the responsibility of the government.” said Tolentino as he assailed the plan of the LTO Central Visayas to apprehend motorcycle riders using improvised or temporary license plates.
In a radio interview in Cebu City, Tolentino questioned the directive, citing the LTO’s own “massive backlogs” in the issuance of license plates that have accumulated to over 12 million as of February this year.
Tolentino said he intends to write Transportation Secretary Jaime Bautista to urge the latter to look into the propriety of the order.
He will also request the DOTr to hold in abeyance any similar directives in view of the recent passage of Senate Bill 2555, which will remove the double plate requirement for motorcycles under Republic Act 11235—also known as the Doble Plaka Law.
Tolentino is the principal sponsor of the said measure.
“I question the logic behind apprehending motorcycle riders for not having official license plates when it is the LTO’s responsibility to provide those plates. I call upon LTO Region 7 to wait for the President’s signing of the new law. The motorcycle riders are not at fault in this issue, yet they are the ones who will be punished,” Tolentino stated. “And also, why single out Cebu?” he asked.
Earlier, LTO Region 7 Director Glen Galario warned that all vehicles not complying with LTO Memorandum Circular VDM2024-2721, which outlines the guidelines for the use of improvised and temporary motor vehicle-motorcycle plates nationwide, would face apprehension, legal action, and penalties.
Romualdez credits colleagues for high Q2 survey rating
By Jovee Marie N. dela Cruz @joveemarie
PEAKER Ferdinand Martin
SG. Romualdez on Tuesday at -
tributed his stable high trust ratings in a recent survey to the collective efforts of his colleagues in advancing legislation that directly benefits the Filipino people.
Romualdez said that the high trust ratings challenge him and his colleagues in the House of Representatives to further advance impactful legislation and address pressing societal issues, including POGOs, illegal drugs, and extra-judicial killings.
Also, he said that these ratings are a testament to the House’s dedication to fulfilling its legislative responsibilities and addressing critical national issues.
“We attribute these positive trust ratings to the collaborative efforts of the House in passing pro-people legislation and conducting thorough oversight functions to address critical national issues,” Romualdez said.
He also expressed his “sincerest gratitude” to the Filipino people for the continued rise in trust ratings, reaffirming his commitment to his mandate as Speaker and as a member of Congress.
“We extend our deepest thanks to the Filipino people for their continued confidence in our leadership in Congress. It is both humbling and inspiring for me. Your faith in our work in Congress is a constant reminder of the immense responsibility we carry in serving this nation,” Romualdez declared.
The second-quarter survey of OCTA Research held from June 30 to July 5 indicates that Romualdez’s trust rating increased from 61 percent in March to 62 percent in the latest survey, buoyed by a significant 9 percent increase in his ratings in Mindanao, from 42 percent to 51 percent during the same period.
He added that his high trust ratings challenge him and House members to further push and craft more impactful legislation that benefits the people and addresses societal issues such as Philippine Offshore Gaming Operators, illegal drugs, and extra-judicial killings.
“Whether in addressing economic challenges, enhancing public services, or securing the welfare of every Filipino, we will continue to work diligently to bring positive change to every corner of our nation,” said Romualdez.
Plastic balloons not safe–group
PLAYING with plastic blowing kits, also known as plastic balloons, is not safe as these toys may expose children to solvent vapors, the group Ecowaste Coalition warned.
Taking its cue from Health Canada, the group reminded consumers to steer clear of plastic balloons following the expanded recall of Geilipo balloon blowing toys in the North American country due to chemical hazard.
The updated consumer product recall advisory said Geilipo balloon blowing toys sold on the Shein Canada web site, consisting of a solvent mixture in a tube and one or more plastic straws for blowing, were being recalled as children’s balloon blowing kits have been prohibited in Canada since 1973.
“The safety concern is that blowing the balloons exposes children to inhaling the vapors of any solvents present. If children blow this type of solvent containing bal -
DOTr defers mandatory use of RFIDs in tollways
By Lorenz S. Marasigan @lorenzmarasigan
THE Department of Transportation (DOTr) has deferred the enforcement of its revised tollway guidelines to October 1, following consultations with key stakeholders.
Transportation Secretary Jaime J. Bautista said the extension will allow stakeholders to “fine tune” tollways operations before they start imposing fines to motorists who do not have radio frequency identification (RFID) tags or have insufficient balance when using tollways.
The Toll Regulatory Board
(TRB) on August 17 announced that it will start penalizing motorists without RFID tags or those who have insufficient credits under the Joint Memorandum Circular 2024-001.
Under the circular, motorists entering expressways without valid RFID tags or electronic toll collection (ETC) devices will have to shell out between P1,000 to P5,000 in fines.
Motorists with insufficient load will also have to pay between P500 and P2,500. Lastly, those who have fraudulent, tampered, or fake ETC devices will pay penalties between P1,000 and P5,000.
The original implementation
date was set for August 31, following its publication in a major newspaper.
“We hope the concerned agencies and tollway operators would use the 30-day deferment to fine-tune expressway operations and further intensify the public information campaign to enable tollway users to comply with the new guidelines,” said Bautista.
Earlier, groups and think tanks cautioned the transport agency from penalizing motorists without upgrading the “outdated and unreliable” cashless toll collection systems in the Philippines.
loons for extended periods, they may experience early symptoms of central nervous system depression or dysfunction, including euphoria, hallucinations, dizziness, and difficulties with coordination of voluntary movements. Prolonged exposure can lead to more serious symptoms including muscular twitching, unconsciousness, and coma,” the public health advisory stated.
Despite lacking the required market authorization from the Food and Drug Administration (FDA), Geilipo balloon blowing toys are sold in the domestic market.
EcoWaste Coalition said they managed to buy some Geilipo toys from an online seller for P45 per set with labeling information in foreign characters in violation of RA 10620, or the Toy and Game Safety Labeling Act.
According to the FDA product verification portal, there were “no records found” for Geilipo, indicating it has no valid Toys and Childcare Articles (TCCA)
POLICEMEN arrested Mayor Carlwyn Baldo of Daraga, Albay, early Tuesday in connection with the killing of Ako Bicol Rep. Rodel Batocabe and his police escort in 2018.
In a report, the Criminal Investigation and Detection Group (CIDG) said its operatives from its field unit in Albay province and the local police arrested Baldo along Nuyda Ave Street in Camalig town at about 12:45 a.m.
The mayor has an arrest warrant for two counts of murder issued by Branch 3 of the Regional Trial Court (RTC) in Manila on August 21. The prosecutor recommended no bail for Baldo. Baldo was then taken to the
CIDG-Field Unit office in Albay.
Meanwhile, the Camalig police chief, Maj. Karlo Dy. said Baldo is now held at the town’s police station.
“The mayor of Daraga is now in our custody. On Monday, around 10 to 11 p.m., together with his brother, Camalig Mayor Carlos Irwin Baldo, voluntarily surrendered,” Dy said in a phone interview.
“CIDG-Albay is processing the arrests, the booking, and the mugshot. We will wait for the commitment order,” he added.
In a news conference at Camp Crame, Quezon City, CIDG director Maj. Gen. Leo Francisco said the court of origin of the arrest warrant will be notified regarding
The TRB earlier said the penalties aim to encourage motorists to use RFID to streamline traffic along expressways in the country. Erring motorists, according to the regulator, represent 9 percent of all expressway users. They are said to have been “the ones causing the unnecessary delays and long queues at the toll plazas.”
“These revised guidelines should significantly improve traffic along expressways through cashless or contactless toll plazas,” Bautista noted. The move towards cashless expressways began in 2021 when the TRB designated only one exit lane for cash transactions at toll plazas, with all other lanes reserved for electronic toll collection (ETC).
Cops arrest Albay mayor for 2018 Batocabe slay
Baldo’s arrest.
He said Baldo may be brought to Manila if the court requires it.
“There are still five accused and I am getting the update of the whereabouts of these other accused from the CIDG Albay,” Francisco said.
In a statement, Baldo said he would respect the court’s decision.
“Every trial comes, but some of it just passes by. I believe, just like before, we will overcome this. Now, we will face it with strength and trust in God,” he said in Bicolano.
The mayor is tagged the mastermind in the killing of Batocabe and Master Sgt. Orlando Diaz in
Makabayan to field 10 bets for Senate
THE Makabayan Koalisyon ng mga Mamamayan (Makabayan) is gearing up to champion Filipinos’ voices in the coming elections in May 2025.
During the observance of National Heroes Day on Monday, the progressive coalition announced its 10 senatorial candidates.
Calling its bets as the “true advocates for the Filipino people,” Makabayan’s senatorial slate includes incumbent Reps. France Castro of the Alliance of Concerned Teachers and Arlene Brosas of Gabriela.
In addition the new party is set to field former Reps. Teodoro Casino and Liza Maza as well as Jerome Adonis, secretary general of Kilusang Mayo Uno; Danilo Ramos, chairman of Kilusang Magbubukid
Notification.
In June 2018, the EcoWaste Coalition wrote to the FDA about unauthorized blowing kits that emit excessive levels of benzene, a carcinogenic substance, which prompted the group to advocate for a ban on benzene and other solvents in toys, plastic balloons in particular.
As part of its advocacy to protect children’s health from hazardous chemicals, the group submitted in 2022 three plastic balloon toys to the Philippine Institute of Pure and Applied Chemistry (PIPAC) for benzene analysis using Headspace-Gas Chromatography.
The solvent mixture of the said toys contained benzene ranging from 26 to 44 parts per million (ppm), which exceeded the European Union’s of not over 5 ppm for benzene in toys.
While the FDA had issued public health warnings against plastic balloon blowing kits through Advisories 2018-152 and 2019-102, the FDA has yet to ban benzene and other solvents in plastic balloon blowing kits. Jonathan L. Mayuga
ng Pilipinas; Ronnel Arambulo, vice chairman of Pamalakaya; Jocelyn Andamo, secretary general of Filipino Nurses United; and Mody Floranda, chairman of Piston.
By participating in next year’s polls, the coalition said it will bring a new brand of politics— one that will address and prioritize the concerns of the nation.
“ Kapag nilagay natin ang taumbayan sa Senado, tiyak magbabago ang itsura ng Senado Tiyak may laban tayo,” Casino said, emphasizing the need to overhaul the traditional politics that dominate the country.
(If we put ordinary people in the Senate, the face of the Senate will surely change. We will definitely have a voice.)
The coalition also urged voters
to reject political dynasties that “perpetuate poverty” and instead support candidates who will genuinely represent their interests.
In a statement, Makabayan CoChairman Neri Colmenares said that the group’s senatorial nominees are ready to push for policies that will “uplift the oppressed and marginalized.”
“This slate represents our unwavering dedication to the principles of nationalism, democracy, and social justice,” Colmenares said.
If given an opportunity to become lawmakers, the 10 aspirants plan to advocate for labor rights, a livable national minimum wage, agricultural and healthcare reform, and sustainable economic policies among others.
Justine Xyrah Garcia
Go provides support to indigents in Bukidnon
ON Monday, August 26, Sen. Christopher Go dispatched his Malasakit Team to extend additional support to struggling residents in Malitbog, Bukidnon.
Highlighting the significance of improving the quality of life for the poor, Go reiterated his dedication to boosting the health and welfare of Filipinos starting from the community level, to help ensure a secure and healthier future for all.
During the visit, Go’s Malasakit Team distributed essential support to 986 residents at the Malitbog Cultural Gymnasium, such as snacks, shirts, basketballs and volleyballs. Select recipients also received a mobile phone and shoes. Through the initiative of May -
or Gary Casiño and the national government, financial aid was disbursed to each qualified beneficiary. Go commended the efforts of local leaders with whom he collaborated to extend support to needy residents.
First established in 2018, the Malasakit Center is a one-stop shop that brings together concerned agencies to provide indigent patients with easy access to medical assistance programs. Currently, the program has established 166 Malasakit Centers nationwide, which have helped more than 10w million Filipinos, according to the Department of Health (DOH). It was institutionalized under Republic Act No. 11463, which Go principally sponsored and authored.
a Christmas gift-giving event in a remote village in Daraga in December 2018.
After the investigation and the testimony of some witnesses, including the alleged gunman, the local police charged Baldo who was accused of plotting the killing as Batocabe was then planning to challenge him in the mayoralty race. The case was first heard before a court in Legazpi City but in 2019, the Supreme Court ordered the transfer of the trial to Manila.
In September 2019, Baldo was released from the Legazpi City Jail after the Manila RTC Branch 10 granted his bail petition. PNA
Marcos on hunt for
Quiboloy: What overkill?
PRESIDENT Marcos on Tuesday said there was no overkill in the deployment of more than 2,000 policemen to secure the compound of the Kingdom of Jesus Christ (KOJC) in Davao City during the weekend. In an interview with Palace reporters in Malacañang, Marcos said the large police contingent was necessary due to the sheer size of the KOJC property.
“Considering that this is a 30-hectare compound, you need a lot of people. It cannot just be a dozen policemen,” Marcos said in Filipino.
The National Police said it was able to rescue two possible trafficking victims during the search for Apollo Quiboloy, the KJOC pastor, at the KOJC compound. Quiboloy is facing child abuse and other charges at the Regional Trial Courts in Davao and Pasig cities as well as in the United States. Marcos also noted the large contingent helped minimize the casualties in the ensuing clash after authorities served the warrant of arrest against Quiboloy.
A KOJC member died from a heart attack when policemen served the arrest warrant at the KOJC compound last Saturday. Police and KOJC members traded allegations of each opposing party’s use of excessive force during the incident.
“If there were few [police], more supporters of the Kingdom of Jesus Christ and policemen would have been hurt because there was resistance. If there were many [policemen], the problem would be immediately resolved. That’s what we’ve done,” Marcos said.
He defended the police, who participated in the KOJC operations against claims they violated human rights.
“All of the policemen who entered [the KOJC compound] were unarmed. They have no guns and they did not use tear gas. So what is the human-rights violation there?,” Marcos said. Samuel P. Medenilla
Legislator pushes bill mandating local govts to support cooperatives
By Jovee Marie N. dela Cruz @joveemarie
APARTY-LIST congress -
man has called on the Congress to swiftly approve a new measure that mandates local governments to allocate a portion of their income towards initiatives that support the development of cooperatives within their communities.
In filing House Bill 2162, Bicol Saro Rep. Brian Raymund Yamsuan said the proposal could lead
to a significant increase in the number of cooperatives in the country, which, in turn, would create more jobs, invigorate local economies, and lower poverty incidence.
“Cooperatives can have a significant impact on reducing poverty in our communities. Unlike a for-profit business where a substantial portion of its earnings go to paying the large salaries of its investors, and only a fraction is re-invested to keep the business going, a cooperative invests the
money it earns back to the coop and the community it serves,” said Yamsuan, who co-authored HB 2162. “If the owner of a for-profit enterprise spends his earnings, he will most likely spend them outside the community where he does business. But for cooperatives, a large part of their profits go back to the communities they serve. Thus, their members and their communities are the ones who benefit,” he said.
Yamsuan said cooperatives can
power the modernization of the agriculture sector in areas like the Bicol Region. Cooperatives can also thrive in urban centers like Metro Manila, where they can fill the needs and service gaps in their communities.
HB 2162 provides for the creation of the Local Cooperatives Development Fund (LCDF) to be managed and administered by the provincial, city, and municipal governments to support programs, projects and activities for the development of the
development of local cooperatives in their respective jurisdictions.
Under the measure, the source of the LCDF will come from 2 percent of the funds that local governments get as their National Tax Allotment (NTA), which represents their share in the taxes collected by the national government.
For local governments belonging to the fourth to sixth income classifications, the bill provides that they may opt to allocate at
least 2 percent of their funds for local development projects as their LCDF. They, however, should commit to progressively realizing the mandate of allotting 2 percent of the NTA for local cooperative development within the next five years from the time the bill becomes law.
Yamsuan said HB 2162 complements Republic Act 11535, which makes the position of Cooperative Development Officer (CDO) mandatory at the municipal, city, and provincial levels.
Group questions DENR chief’s leadership of ‘Loss and Damage Fund’
‘MISSING in Action.”
This is how the Pambansang Lakas ng Kilusang Mamalakaya ng Pilipinas (Pamalakaya) described Environment Secretary Maria Antonia YuloLoyzaga for her alleged silence over the continuous land reclamation on Manila Bay.
Thus, the group is now questioning her credibility to leading the Loss and Damage Fund, raising moral and political ascendancy issues to host the United Nations’ (UN) climate finance body.
Last month, the Philippines
through the Department of Environment and Natural Resources (DENR) was selected to host the Board of the Fund for Responding to Loss and Damage.
“Why is the DENR so eager to pursue this climate finance mechanism that it even seeks passage of legislation for the Loss and Damage Board? The enthusiasm of Environment Secretary Yulo-Loyzaga is startling, given that she has established the reputation of being missing-in-action in crucial environmental matters including the call to revoke the permits of destructive reclamation
projects in our fishing grounds,” Ronnel Arambulo, Pamalakaya vice chairman said in a statement.
The fishermen’s group has been criticizing the DENR’s alleged inaction to its call for the revocation of the environmental compliance certificates (ECC) of at least 22 reclamation projects at Manila Bay.
“Kapag sa panawagan ng mga mangingisda at makakalikasan na repasuhin ang mga environmental permit ng mapanirang reklamasyon sa Manila Bay, hindi mahagilap ang kalihim ng DENR. Pero dito sa Loss and Damage Fund na mayroong malaking halaga ng
pondo, aktibong-aktibo siya sa pagsusulong para sa ligal na balangkas nito.
“Magiging mapagbantay kami sa pondo na nakalaan para sa mga biktima ng krisis sa klima. Dapat tiyakin na direktang mapupunta ito sa mga bulnerableng sektor tulad ng magsasaka at mangingisda, hindi sa katiwalian,” Arambulo said.
The LDF is a finance mechanism to help vulnerable countries cope with the climate impacts. It was launched during the 28th Conference of Parties (COP28) held in Dubai, United Arab Emirates last year. Jonathan L. Mayuga
PHL
has enough chicken despite rise
Tin prices–DA
areas that could still supply this in the market.
By Ada Pelonia @adapelonia
HE Department of Agriculture (DA) maintained that the country has sufficient chicken supply despite the rise in chicken prices in Metro Manila where it was sold for as much as P240 per kilogram.
Walang issue sa supply ng manok [There’s no issue in the supply of chickens. We have enough chickens,” DA Assistant Secretary Constante Palabrica told reporters on Tuesday.
He explained that a huge percentage of consumers opted for chicken instead of pork following the rise of African swine fever (ASF) cases in the country.
“A big percentage of consumers have shifted from pork to chicken; the demand for chicken has grown and that accounts for its rising prices,” Palabrica added.
The price of chicken in Metro Manila markets ranged from P180 to P240 per kilo as of August 24, based on the price monitoring report of the department.
He also said that the price of pork would not increase due to the public’s hesitance to eat it.
“Hindi naman aakyat ang presyo ng baboy dahil nga ang nangyayari ngayon ay may scare to eat pork kaya tumaas ang presyo ng manok,” he said.
In terms of pork supply, Palabrica said there were many
VP Sara. . .
Continued from A16
and the PNP Vice Presidential Protection Division.
Duterte also addressed criticisms related to the OVP’s handling of confidential funds. She defended the efficient use of these funds and expressed confusion over the criticisms, noting that government agencies often face scrutiny for low budget utilization rates.
Regarding her book, Isang Kaibigan, Duterte clarified that it is used for educational purposes in schools to encourage reading among children. She dismissed claims that the inclusion of her name and image in the book’s
Admiral. . .
Continued from A16
President Ferdinand Marcos Jr. has said there has been no situation so far that would warrant activating the treaty, which requires the allies to come to the aid of the other if it comes under external attack.
President Joe Biden and his administration have repeatedly renewed their “ironclad” commitment to help defend the Philippines under the 1951 treaty if Filipino forces, ships and aircraft come under an armed attack, including in the South China Sea.
Philippine Defense Secretary Gilberto Teodoro Jr. said at the conference that China is “the biggest disruptor” of peace in Southeast Asia and called for stronger international censure over its aggression in the South China Sea, a day after China blocked Philippine vessels from delivering food to a coast guard ship at the disputed Sabina Shoal in the contested waters.
Teodoro later told reporters on the sidelines of the conference that international statements of concern against China’s increasingly assertive actions in the disputed waters and elsewhere were “not
“The supply is not that acute as to affect our pork supply in the market,” he said, partly in Filipino.
“We have imported pork that can balance in case of a short supply in the local market.”
Data from the Bureau of Animal Industry (BAI) recently showed that meat imports increased by 9.64 percent to 647,745 metric tons (MT) from January to June this year, compared to the 590,766 MT recorded in the same period in 2023.
Chicken imports rose 4.13 percent to 221,598 MT from 212,811 MT while pork imports grew by 10.73 percent to 316,995 MT from the 286,275 MT recorded in the same period last year.
Beef imports recorded the biggest increase as it jumped by 29.3 percent to 84,918 MT from 65,676 MT.
“The reduction in supply caused by the continuing effects of ASF [African swine fever] coupled with El Niño most likely encouraged importers to bring in more products,” Meat Importers and Traders Association (Mita) President Emeritus Jesus Cham said via Viber.
According to Cham, the “record high” domestic retail prices of pork and chicken indicate a severe supply shortage, which “allowed beef to become more competitive.”
“About the Author” section was politically motivated. In response to ongoing discussions about potential impeachment, Duterte chose not to disclose details of confidential conversations within the House of Representatives. She criticized the premature accusations and lack of evidence surrounding the allegations.
On the issue of the West Philippine Sea, Duterte affirmed her commitment to an independent foreign policy as outlined in the Constitution. She emphasized that bilateral relations should consider broader regional stability and shared interests, and she stressed that decisions on foreign policy are primarily the responsibility of the President and relevant agencies.
enough.”
“The antidote is a stronger collective multilateral action against China,” Teodoro said, adding that diplomats and defense officials should determine those stronger steps.
Pressed by reporters to be more specific, Teodoro said a UN Security Council resolution condemning and ordering a stop to Chinese acts of aggression would be a strong step but acknowledged the difficulty of pursuing that. “The world is not that perfect,” Teodoro said. China, like its geopolitical rival the US, is one of the five permanent members of the UN Security Council and has power to veto such an adversarial step.
The Association of Southeast Asian Nations has paid “attention” to China’s aggressive actions but should do much more, Teodoro said. The 10-nation Southeast Asian bloc includes the Philippines, Vietnam, Malaysia and Brunei, which have South China Sea claims that overlap with each other, as well as China’s and Taiwan’s.
“ASEAN, to remain relevant and credible, cannot continue to ignore what China is doing in the South China Sea,” Teodoro said. AP
Davao court stops police barricade at Quiboloy lair
By Joel R. San Juan @jrsanjuan1573 & Manuel Cayon @awimailbox
THE Regional Trial Court in Davao City on Tuesday issued a temporary protection order (TPO) and directed the National Police to allow Kingdom of Jesus Christ members access to their compound located along Phil-Japan Friendship Highway in Sasa, Davao City.
Judge Mario Duaves of Branch 15 of the RTC in Davao City RTC Branch 15 issued the TPO as a temporary and immediate relief for KOJC members pending the court’s action on their petition for the issuance of a writ of amparo filed by the religious group through its Executive Pastor Marlon Acobo and Jose Maria College Foundation Inc. (JMCFI, Inc.) represented by Rosemarie Dimagnaong, et al.
Specifically, the trial court directed the National Police Region XI commander and officers to remove all forms of barricades, barriers or blockades that bar access to and from the subject compound and obstruct KOJC’s religious, academic and proprietary rights. The court said it is aware of
the recent incidents affecting the right to life, liberty and safety of the KOJC officers and members.
It said the current operation of the police to serve the warrant of arrest which resulted in the imposition of restrictions and control over the KOJC properties “trampled not only on the property rights” of the officers and members of the religious group.
“Hence, this Court under the current situation, sees the urgency to direct the PNP XI to immediately cease and desist from any act or omission that threatens the life, liberty, or security as well as the properties of the petitioners,” the order read.
In its petition for writ of amparo, the petitioners recounted that the respondents belonging to the National Police Regional Office X1, armed with warrants of arrest, entered the compound of KOJC and JMCFI last August 24, 2024 in search of Quiboloy and other individuals named in the warrants and remained in the premises since then.
The policemen barricaded all the entry and exit points of the compound and imposed restrictions on the KOJC members.
Under the Rule of the Writ of Amparo, a petition for the said
writ “is a remedy available to any person whose right to life, liberty and security is violated or threatened with violation by an unlawful act or omission of a public official or employee, or of a private individual entity.”
Under Section 14 of the Rule, a TPO may be issued upon filing of the petition or at any time before final resolution of the petition.
Among the respondents in the petition was Interior and Local Government Secretary Benjamin Abalos Jr.
Quiboloy and several KOJC members have been issued with warrants of arrest for qualified trafficking, child abuse and sexual abuse cases.
Maj. Catherine dela Rey, regional police spokesman, told the BusinessMirror that the highway barricades at both ends of the highway boxing the KOJC compound have been removed, including those at the main gate of the compound.
The lifting of the barricades has allowed the resumption of passage of vehicles along the C.P. Garcia Highway as of late yesterday.
The police has also removed the barricade at the exit lane of the Davao airport which was closed over the weekend to alleg -
edly prevent the fugitive pastor from using it. The exit lane is just beside the western wall of the compound.
A KOJC insider told BusinessMirror that she and her colleagues inside the compound heard at early dawn what sounded like a drilling similar to those done on the streets and could be heard at a basement of one of the main buildings of the Jose Maria College. She said they could not shoot videos of the alleged drilling as many of their mobile phones were confiscated over the weekend.
On Monday night, KOJC followers held a candlelight gathering outside the main gate and a verbal confrontation with the police ensued.
The National Police spokesman, Col. Jean Fajardo, declined to confirm or deny the alleged drilling but said the police will continue with its search for the location of Quiboloy.
The regional police chief, Brig. Gen. Nicolas Torre III, earlier disclosed that it has installed a generator set outside the compound, a long-range optic device and a heartbeat detector that can detect a hearbeat even with a one-foot thick concrete barrier.
Rice imports arrivals as of mid-Aug hit 2.65 MMT–BPI
RICE import arrivals as of August 15 reached 2.65 million metric tons (MMT), according to the Bureau of Plant Industry (BPI).
Figures from the attached agency of the Department of Agriculture (DA) showed that total rice imports from January 1 to August 15 hit 2.65 MMT.
Over 2.03 MMT of rice imports from the reference period came from Vietnam, which remained the country’s top source of imported rice. This was followed by Thailand at 362,134.74 metric tons (MT).
BPI data showed that the Philippines also imported rice from other countries like Pakistan (154,523.82 MT), Myanmar (66,910 MT), and India (21,676.14 MT).
BLY Agri Venture Trading led the 154 rice importers with a to -
tal volume of 174,446.99 MT. This was followed by Orison Free Enterprise Inc. and Macman Rice and Corn Trading at 155,409.35 MT and 121,873.30 MT, respectively.
Other companies also had rice imports that reached over 100,000 MT, such as Atara Marketing Inc. at 106,756 MT and River Valley Distribution, Inc. at 102,710 MT.
Data from BPI also showed that it approved and issued 5,891 sanitary and phytosanitary import clearances (SPSICs) which covered the importation of 6.25 MMT of rice.
Rice importers should secure an SPSIC from the BPI before bringing in foreign rice stocks.
An SPSIC would certify that an inbound shipment is safe for human and animal consumption and would not bring in any pests that could be detrimental to the local
agriculture sector.
The United States Department of Agriculture (USDA) recently adjusted downward its estimate of the Philippines’s rice imports this year on the back of slowing purchases of Vietnam rice.
In its latest report, the USDA said that the country’s rice imports this year could reach 4.6 million metric tons (MMT), lower than its previous forecast of 4.7 MMT.
The latest projection, however, is higher than the actual purchases of 3.61 MMT made last year.
“With the price quote spread narrowing, Vietnam jumped $7 to $559 per ton, while Thai increased slightly by $2 to $573 per ton with only limited demand from Indonesia and the Philippines,” the USDA report read. Ada Pelonia
Marcos Jr. cites media’s role in keeping govt honest, vows safety for journalists
RECOGNIZING the crucial role of the media in keeping the government in check and combating misinformation, President Ferdinand Marcos has vowed to keep the country safe for journalists.
The chief executive made the remark at the oath-taking ceremony at the Palace of the new officials of the National Press Club (NPC); the Kapisanan ng mga Brodkaster ng Pilipinas (KBP); Malacañang Press Corps (MPC); the Malacañang Cameramen Association (MCA); and the Presidential Photojournalists Association (PPA) on Tuesday.
In his speech at the event, Marcos underscored how media practitioners are able to help address problems in government operations and keep it in the “right direction.”
“We need the media. I always consider you partners in government and that the check and balance that you provide is very
important,” he said.
“Your persistent efforts have aided us in shaping a more enlightened and empowered citizenry— one that is more [than] capable of joining our pursuit of a stronger Bagong Pilipinas,” the President said addressing the new set of officers of media organizations.
“We have filed cases against suspects, [while] our law enforcement agencies continue to work hard to bring other perpetrators to justice,” Marcos said.
He noted even he recognizes the value of reports which are critical against him.
“So, listen to everything. Don’t shoot the messenger. If they really believe what they’re saying, then think about it, maybe they are right,” Marcos said.
He highlighted how media are able to provide the public with credible news amid the proliferation of “misinformation, disinformation, and malinformation” with
the advent of new technology and social media.
Ensuring the continuous operation of the media, he said, will be crucial to keep the country’s vibrant democracy.
He assured his administration will go after those who committed violence against media practitioners and to implement policies, which will allow them to exercise their profession.
“We have filed cases against suspects, [while] our law enforcement agencies continue to work hard to bring other perpetrators to justice,” Marcos said. “There is no place for violence against the media in Bagong Pilipinas.”
With the said commitment, he said, he hopes the media will be able to continue to perform its role in shaping a more enlightened and empowered citizenry, amplify the voices of the marginalized, and address the weaknesses of the government. Samuel P. Medenilla
Comelec extends Guo’s deadline for reply in misrepresentation case
THE Commission on Elections will wait for dismissed Bamban, Tarlac mayor Alice Guo’s counter affidavit until September 1, following the latter’s request for a deadline extension.
Comelec Chairman George Garcia said on Tuesday that it is “just right” to grant Guo’s request, emphasizing that all respondents in criminal cases are given such consideration. Ayawnatinmagingmahigpit.Perokung hihingipaulitng extension mukhanghindi na dapat,” the chief added.
(We don’t want to be too strict. But if they ask for another extension, it seems that it might no longer be appropriate.)
Guo’s misrepresentation case revolves around her 2022 certificate of candidacy for Bamban mayor where she claimed that she is a Filipino citizen. This claim was challenged after congressional hearings revealed overwhelming evidence that she is actually a Chinese national.
In line with this case, the Comelec chairman reiterated that the commission will require Guo’s counteraffidavit to be personally signed by the suspended official and be notarized by a notary public. If the document is not notarized, the Comelec will request her personal appearance in the commission’s office to swear that her testimony is correct.
“Dapat pumunta siya dito para panumpaan sa harap ng hearing officer ang kanyang salaysay. Ang title pa naman ay sinumpaang salaysay, kung hindi napanumpaan, hindi po tatanggapin, a mere scrap of paper yan,” Garcia explained. (She should come here to swear an affidavit in front of the hearing officer. The document is titled ‘sworn affidavit,’ and if it’s not sworn, it won’t be accepted—it’s just a mere scrap of paper.)
Although Shiela Guo, the ex-mayor’s sister, recently admitted that they fled the country last month, Garcia noted that this information cannot be used for future actions by Comelec unless Shiela will provide a sworn testimony.
“Lahat yan kasi hindi napapanumpaan. Ang Comelec magre-rely lang sa mga pinanumpaan para maging fair at in accordance with due process,” Garcia explained.
(All of that is not valid because it hasn’t been sworn. The Comelec will rely only on sworn statements to ensure fairness and adherence to due process.) Justine Xyrah Garcia
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• Editor: Angel R. Calso
Canada announces 100% tariff on imports of China-made EVs, citing unfair subsidies
By Rob Gillies The Associated Press
TORONTO—Canada announced
Monday it is launching a 100 percent tariff on imports of Chinese-made electric vehicles, matching US tariffs imposed over what Western governments say are China’s subsidies that give its industry an unfair advantage.
The announcement came after encouragement by US national security advisor Jake Sullivan during a meeting with Canadian Prime Minister Justin Trudeau and Cabinet ministers Sunday. Sullivan is making his first visit to Beijing on Tuesday. Trudeau said Canada also will impose a 25 percent tariff on Chinese steel and aluminum. “Actors like China have chosen to give themselves an unfair advantage in the global marketplace,” he said.
One of the Chinese-made EVs imported into Canada is from Tesla, made at the company’s Shanghai factory, though the
US company could avoid the tariff by switching to supplying Canada from factories in the US or Germany.
Chinese brands are not yet a player in Canada. However, Chinese EV giant BYD established a Canadian corporate entity last spring and has indicated it intends to try and enter the Canadian market as early as next year.
Chinese officials are likely to raise concerns about the American tariffs with Sullivan as Beijing continues to repair its economy after the Covid-19 pandemic. US President Joe Biden in May slapped major new tariffs on Chinese elec -
Pope to visit Istiqlal Mosque in Indonesia on the first stop of an interfaith Asian trip
By Edna Tarigan & Andi Jatmiko
The Associated Press
JAKARTA, Indonesia—When Pope Francis begins his Asia tour next week, one of his early stops will be at Indonesia’s iconic Istiqlal Mosque. The 87-year-old head of the Catholic Church will hold an interfaith meeting with representatives of the country’s six officially recognized religions as the populous Southeast Asian nation faces growing challenges to its tolerant image.
Francis, who has suffered a slew of health problems and has become increasingly reliant on a wheelchair, has a rigorous schedule during his four-nation visit. He will start his trip in Jakarta on Sept. 3, where he will meet Indonesian President Joko Widodo.
In Istiqlal Mosque, the Argentine Jesuit, known for promoting religious dialogue, will meet delegates of Islam, Buddhism, Confucianism, Hinduism, Catholicism and Protestantism. Indonesia’s constitution recognizes the latter two as separate religions. About 87 percent of the country’s 280 million people are Muslim, however, it has the third-largest Christian population in Asia after the Philippines and China. Only 2.9 percent of the total population is Catholic.
The mosque of Istiqlal, which means independence in Arabic, is the largest in Southeast Asia, covering over 22 acres (9
hectares). Its name is a constant reminder of the country’s fight against Dutch colonialists who ruled it for nearly 350 years. Across from the mosque lies the Roman Catholic neo-Gothic Our Lady of The Assumption Cathedral in Jakarta. The proximity of the two houses of worship is symbolic of how religions can peacefully coexist, according to official websites.
The mosque and cathedral are linked by an underpass known as the “Tunnel of Friendship,” about 28 meters (91 feet) in length and molded after a handshake gesture to symbolize religious tolerance. The pope is expected to walk through the tunnel.
Istiqlal Mosque’s Grand Imam Nasaruddin Umar told The Associated Press that Francis choosing Indonesia as the first stop of his Asian visit makes “the Muslim community proud.” He also said they will use the pope’s visit “to discuss the common ground between religious communities and emphasize the commonalities between religions, ethnicities and beliefs.”
Umar acknowledged that an “increasingly plural society” like Indonesia can face more challenges, “but we need to know we live together under God.”
While Indonesia’s constitution guarantees freedom of religion, over the past several years, its perception as a moderate Muslim nation has been undermined by flaring intolerance, from the imprisonment of Jakarta’s Christian governor for blasphemy, which resulted in a series of
tric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment.
“The US does believe that a united front, a coordinated approach on these issues benefits all of us,” Sullivan told reporters on Sunday.
Biden has said Chinese government subsidies for EVs and other consumer goods ensure that Chinese companies don’t have to turn a profit, giving them an unfair advantage in global trade.
Chinese firms can sell EVs for as little as $12,000. China’s solar cell plants and steel and aluminum mills have enough capacity to meet much of the world’s demand. Chinese officials argue their production keeps prices low and would aid a transition to the green economy.
“We’re doing it in alignment, in parallel, with other economies around the world that recognize that this is a challenge that we are all facing,” Trudeau said of the new tariffs. “Unless we all want to get to a race to the bottom, we have to stand up.”
Deputy Prime Minister Chrystia Freeland said Canada also will launch a 30-day consultation about possible tariffs on Chinese batteries, battery parts, semiconductors, critical minerals, metals and solar panels.
“China has an intentional statedirected policy of overcapacity and oversupply designed to cripple our own industry,” Freeland said. “We simply will not allow that to happen to our EV sector, which has shown such promise.”
The Chinese Embassy said Ottawa disregarded Beijing’s repeated objections and said the move will damage trade and economic cooperation.
“This move is typical trade protectionism and politicallymotivated decision, which violates the World Trade Organization (WTO) rules and goes against Canada’s traditional image as a global champion for free trade
protests in 2016, to the canings of gay men in Aceh, a province that practices its version of Islamic Shariah law. There were also reports of violence against religious minorities, and some faith groups have been unable to secure building permits for places of worship.
Meanwhile, Cantika Syamsinur, a 23-year-old college student who had just finished praying in Istiqlal Mosque and was on her way to the cathedral, said she welcomed the pope’s visit and the interfaith meeting. “There are many religions in Indonesia and hope we respect each other.”
Francis will be the third pope to visit Indonesia. The trip was originally planned for 2020 but was called off because of the Covid-19 pandemic.
“Four years of waiting is quite long,” said Susyana Suwadie who heads the cathedral’s museum, adding she was overwhelmed by emotions as she awaited the pope’s visit. “This important historic moment is finally happening.”
Some are hopeful the pope’s interreligious meeting will propel changes on a grassroots level.
Thomas Ulun Ismoyo, a Catholic Priest who is also the spokesperson for the Pope Francis Visitation Committee in Indonesia, said that religious leaders in Indonesia play a very significant role because the masses listen to them. He said he hopes the pope’s visit “will lead to something good” and advocate for a better world where humanity and social justice are prized.
Andi Zahra Alifia Masdar, a 19-year-old college student in Jakarta, concurred: “We can be more accepting of each other, more tolerant, and able to live side by side, not always clashing.”
and climate change mitigation,” the embassy said in an e-mailed statement. “China will take all necessary measures to safeguard the legitimate rights and interests of Chinese enterprises.”
Canada “had to go with the US
position, when you think about the economic integration that we have with the US. More than 75 percent of our exports go to the US,” said a former Canadian ambassador to China, Guy Saint-Jacques.
Saint-Jacques said Canada can
expect retaliation from China in other industries, adding that barley and pork are candidates because the Chinese can get it from other countries.
“China will want to send a message,” he said.
CANADIAN Prime Minister Justin Trudeau speaks with reporters during a news conference at the Federal ministers cabinet retreat in Halifax, Nova Scotia on Monday, August 26, 2024. KELLY CLARK/THE CANADIAN PRESS VIA AP
Guterres sounds alarm on accelerating sea level rise threatening Pacific island nations
By Seth Borenstein & Charlotte Graham-Mclay AP Science Writer
NUKU’ALOFA,
Tonga—
Highlighting seas that are rising at an accelerating rate, especially in the far more vulnerable Pacific island nations, UN SecretaryGeneral Antonio Guterres issued yet another climate SOS to the world. This time he said those initials stand for “save our seas.”
The United Nations and the World Meteorological Organization Monday issued reports on worsening sea level rise, turbocharged by a warming Earth and melting ice sheets and glaciers. They highlight how the Southwestern Pacific is not only hurt by the rising oceans, but by other climate change effects of ocean acidification and marine heat waves.
Guterres toured Samoa and Tonga and made his climate plea from Tonga’s capital on Tuesday at a meeting of the Pacific Islands Forum, whose member countries are among those most imperiled by climate change. Next month the United Nations General Assembly holds a special session to discuss rising seas.
“This is a crazy situation,”
Guterres said. “Rising seas are a crisis entirely of humanity’s making. A crisis that will soon swell to an almost unimaginable scale, with no lifeboat to take us back to safety.”
“A worldwide catastrophe is putting this Pacific paradise in peril,” he said. “The ocean is overflowing.”
A report that Guterres’ office commissioned found that sea level lapping against Tonga’s
capital Nuku’alofa had risen 21 centimeters (8.3 inches) between 1990 and 2020, twice the global average of 10 centimeters (3.9 inches). Apia, Samoa, has seen 31 centimeters (1 foot) of rising seas, while Suva-B, Fiji has had 29 centimeters (11.4 inches).
“This puts Pacific Island nations in grave danger,” Guterres said. About 90 percent of the region’s people live within 5 kilometers (3 miles) of the rising oceans, he said.
Since 1980, coastal flooding in Guam has jumped from twice a year to 22 times a year. It’s gone from five times a year to 43 times a year in the Cook Islands. In Pago Pago, American Samoa, coastal flooding went from zero to 102 times a year, according to the WMO State of the Climate in the South-West Pacific 2023 report.
“Because of sea level rise, the ocean is transforming from being a lifelong friend into a growing threat,” Celeste Saulo, secretarygeneral of the World Meteorological Organization, told reporters in Nuku’alofa on Tuesday.
While the western edges of the Pacific are seeing sea level rise about twice the global average, the central Pacific is closer to the global average, the WMO said.
Sea levels are rising faster in the western tropical Pacific because of where the melting ice from
western Antarctica heads, warmer waters and ocean currents, UN officials said.
Guterres said he can see changes since the last time he was in the region in May 2019.
While he met in Nuku’alofa on Tuesday with Pacific nations on the environment at their leaders’ annual summit, a hundred local high school students and activists from across the Pacific marched for climate justice a few blocks away.
One of the marchers was Itinterunga Rae of the Barnaban Human Rights Defenders Network, whose people were forced generations ago to relocate to Fiji from their Kiribati island home due to environmental degradation. Rae said abandoning Pacific islands should not be seen as a solution to rising seas.
“We promote climate mobility as a solution to be safe from your island that’s been destroyed by climate change, but it’s not the safest option,” he said. Barnabans have been cut off from the source of their culture and heritage, he said.
“The alarm is justified,” said S. Jeffress Williams, a retired US Geological Survey sea level scientist. He said it’s especially bad for the Pacific islands because most of the islands are at low elevations, so people are more likely to get hurt. Three outside experts said the sea level reports accurately reflect what’s happening.
The Pacific is getting hit hard despite only producing 0.2 percent of heat-trapping gases causing climate change and expanding oceans, the UN said. The largest chunk of the sea rise is from melting ice sheets in Antarctica and Greenland. Melting land glaciers add to that, and warmer water also expands based on the laws of physics.
Antarctic and Greenland “melting has greatly accelerated over the past three to four decades due to high rate of warming at the poles,” Williams, who was not part of the reports, said in an e-mail.
About 90 percent of the heat trapped by greenhouse gases goes into the oceans, the UN said.
By Ken Moritsugu The Associated Press
Globally, sea level rise has been accelerating, the UN report said, echoing peer-reviewed studies. The rate is now the fastest it has been in 3,000 years, Guterres said. Between 1901 and 1971, the global average sea rise was 1.3 centimeters a decade, according to the UN report. Between 1971 and 2006 it jumped to 1.9 centimeters per decade, then between 2006 and 2018 it was up to 3.7 centimeters a decade. The last decade, seas have risen 4.8 centimeters (1.9 inches).
The UN report also highlighted cities in the richest 20 nations, which account for 80 percent of the heat-trapping gases, where rising seas are lapping at large population centers. Those cities where sea level rise in the past 30 years has been at least 50 percent higher than the global average include Shanghai; Perth, Australia; London; Atlantic City, New Jersey; Boston; Miami; and New Orleans.
New Orleans topped the list with 10.2 inches (26 centimeters) of sea level rise between 1990 and 2020. UN officials highlighted the flooding in New York City during 2012’s Superstorm Sandy as worsened by rising seas. A 2021 study said climate-driven sea level rise added $8 billion to the storm’s costs.
Guterres is amping up his rhetoric on what he calls “climate chaos” and urged richer nations to step up efforts to reduce carbon emissions, end fossil fuel use and help poorer nations. Yet countries’ energy plans show them producing double the amount of fossil fuels in 2030 than the amount that would limit warming to internationally agreed upon levels, a 2023 UN report found.
Guterres said he expects Pacific island nations to “speak loud and clear” in the next General Assembly, and because they contribute so little to climate change, “they have a moral authority to ask those that are creating accelerating the sea level rise to reverse these trends.”
Borenstein reported from Kensington, Maryland.
UNITED Nations Secretary-General Antonio Guterres speaks at the opening of the annual Pacific Islands Forum leaders meeting in Nuku’alofa, Tonga on Monday, August 26, 2024. AP/CHARLOTTE GRAHAM-MCLAY
Russia unleashes ‘vile’ missile and drone barrage on Ukraine, killing 4 and disrupting power grid
By Illia Novikov The Associated Press
KYIV, Ukraine—Russia battered much of Ukraine on Monday, firing scores of missiles and drones that killed four people, injured more than a dozen and damaged energy facilities in attacks that President Volodymyr Zelenskyy described as “vile.”
The barrage of over 100 missiles and a similar number of drones began around midnight and continued through daybreak in what appeared to be Russia’s biggest onslaught in weeks.
Ukraine’s air force said swarms of Russian drones fired at eastern, northern, southern, and central regions were followed by volleys of cruise and ballistic missiles.
“Like most previous Russian strikes, this one was just as vile, targeting critical civilian infrastructure,” Zelenskyy said, adding that most of the country was targeted—from the Kharkiv region and Kyiv to Odesa and the west. Explosions were heard in the capital of Kyiv. Power and water supplies in the city were disrupted by the attack, Mayor Vitali Klitschko said.
Ukraine’s Prime Minister Denys Shmyhal said Russia fired
drones, cruise missiles and hypersonic ballistic Kinzhal missiles at 15 Ukrainian regions— more than half the country.
“The energy infrastructure has once again become the target of Russian terrorists,” Shmyhal said, adding that the state-owned power grid operator, Ukrenergo, has been forced to implement emergency power cuts to stabilize the system.
He urged Ukraine’s allies to provide it with long-range weapons and permission to use them on targets inside Russia.
“In order to stop the barbaric shelling of Ukrainian cities, it is necessary to destroy the place from which the Russian missiles are launched,” Shmyhal said. “We count on the support of our allies and will definitely make Russia pay.”
US President Joe Biden called the Russian attack on energy infrastructure “outrageous” and said he had “re-prioritized US air defense exports so they are sent to Ukraine first.” He also said the US was “surging energy equipment to Ukraine to repair its systems and strengthen the resilience of Ukraine’s energy grid.”
The Russian Defense Ministry said the attacks used “long-range precision air- and sea-based weapons and strike drones against critical energy infrastructure facilities that support the operation of Ukraine’s military-industrial complex. All designated targets were hit.”
At least four people were killed—one in the western city of
Separatist group claims multiple attacks that killed over 40 people in Pakistan; threatens more violence
By Abdul Sattar
The Associated Press
QUETTA, Pakistan—A separatist group claimed responsibility for multiple attacks in southwestern Pakistan that killed more than 40 people but insisted it did not harm civilians, as authorities on Tuesday sent the bodies of 23 victims to their home districts for burial.
The outlawed Baluchistan Liberation Army group warned in a statement overnight into Tuesday of more attacks, saying that 800 of its well-trained fighters took part in the first phase of the shooting and bombing attacks that began late Sunday and ended on Monday.
It warned the second phase of the attacks would be “even more intense and widespread.”
Twenty-three people and 14 security officials were among the dozens killed by insurgents in multiple attacks in the restive southwest, the highest one-day death toll in recent violence in the area.
The attacks drew nationwide condemnation.
Prime Minister Shehbaz Sharif told a Cabinet meeting on Tuesday there would be no peace talks with insurgents who took up arms against the state, killed innocent people and attacked security forces in Baluchistan.
He said the latest attacks in Baluchistan seek to harm Chinese-funded development projects under the China-Pakistan Economic Corridor, which includes building and improving roads and rail systems to link western China’s Xinjiang region to Pakistan’s southwestern Gwadar port on the Arabian Sea.
In recent years, BLA and other militants have also attacked Chinese nationals working on CPEC projects.
Shafique Ullah, a local administration official, said 14 people from the eastern Punjab province and nine Baluch were among the 23 people killed by BLA after they were offloaded from their vehicles on a highway in Musakhail, a district in Baluchistan early Sunday.
Harris and Trump squabble over muted mics at upcoming debate
By Meg Kinnard
The Associated Press
THE campaigns of Vice President Kamala Harris and former President Donald Trump are arguing in advance of their high-stakes September 10 debate over whether microphones should be muted except for the candidate whose turn it is to speak.
While it’s common for campaigns to quibble beforehand over debate mechanics, both Harris and Trump are under pressure to deliver a strong performance next month in Philadelphia. The first debate during
this campaign led to President Joe Biden’s departure from the race. Trump on Sunday night raised the possibility that he might not show up on ABC, posting on his Truth Social network that he had watched the network’s Sunday show with a “so-called Panel of Trump Haters” and posited, “why would I do the Debate against Kamala Harris on that network?” and urging followers to “Stay tuned!!”
The current dispute centers on the muting of microphones when a candidate isn’t speaking, a condition both Biden and Trump accepted for their June debate hosted by CNN. Both sides are accusing
The bodies were sent to their home districts on Monday, he said.
Funerals for the 14 security officials killed in the assaults were held in Baluchistan overnight.
The government has vowed to punish the attackers and their facilitators.
BLA has targeted security forces for years in small-scale attacks, but the latest violence indicated it was now much more organized.
Sarfraz Bugti, the chief minister in Baluchistan, told reporters in Quetta on Monday that operations against the insurgents were still underway, adding that “those who killed our innocent civilians and security with be dealt with a full force.”
Baluchistan has been the scene of a long-running insurgency in Pakistan, with an array of separatist groups staging attacks, mainly on security forces. The separatists have been demanding independence from the central government.
Although Pakistan says it quelled the insurgency, violence has persisted in Baluchistan.
the other of gaming the system to protect their candidate.
Biden’s campaign team made microphone muting a condition of its decision to accept any debates this year, and some aides now regret the decision, saying voters were shielded from hearing Trump’s outbursts during the debate. That move likely would not have helped the incumbent Democrat’s disastrous performance.
The Harris campaign now wants microphones to be live all the time, according to Harris spokesman Brian Fallon, who issued a statement needling Trump.
“Trump’s handlers prefer the muted microphone because they don’t think their candidate can act presidential for 90 minutes on his own,” Fallon said. Harris “is ready to deal with Trump’s constant lies and interruptions in real time. Trump should stop hiding behind the mute button.”
Lutsk, one in the central Dnipropetrovsk region, one in Zhytomyr in the country’s center, and one in the partially occupied Zaporizhzhia region in the southeast, local officials said. Thirteen others were wounded—one in the Kyiv region that surrounds the capital, five in Lutsk, three in the southern Mykolaiv region and four in the neighboring Odesa region.
Blackouts and damage to civilian infrastructure and residential buildings were reported from the region of Sumy in the east, to the Mykolaiv and Odesa regions in the south, to the region of Rivne in the west.
In Sumy, a province in the east that borders Russia, local administration said that 194 settlements lost power, while 19 others had a partial blackout.
The private energy company DTEK introduced emergency blackouts, saying in a statement “energy workers throughout the country work 24/7 to restore light in the homes of Ukrainians.”
In the wake of the barrage and the power cuts, officials across Ukraine were ordered to open “points of invincibility”—shelter-type places where people can charge their phones and other devices and get refreshments during blackouts, Shmyhal said. Such points were first opened in the fall of 2022, when Russia targeted Ukraine’s energy infrastructure with weekly barrages.
In neighboring Poland, the military said Polish and NATO air defenses were activated in the
eastern part of the country as a result of the attack.
In Russia, meanwhile, officials reported a Ukrainian drone attack overnight.
Four people were injured in the central region of Saratov, where drones hit residential buildings in two cities. One drone struck a residential high-rise in the city of Saratov, and another hit a residential building in the city of Engels, home to a military airfield that had been attacked before, local officials said.
Russia’s Defense Ministry said a total of 22 Ukrainian drones were intercepted overnight and in the morning over eight provinces, including the Saratov and Yaroslavl regions in central Russia. Russia also said its troops had fended off Ukrainian attempts to advance on half a dozen settlements in the Kursk region, where Ukraine launched an incursion on Aug. 6 that caught Russia off-guard.
The fighting in the region has raised concerns about the nuclear power plant there. International Atomic Energy Agency chief Rafael Grossi said he would visit the plant Tuesday.
Navigating the economics of the longest Christmas:
Yuletide festivities fueled by skyrocketing inflation
The longest Christmas celebration in the world will begin in the Philippines in a few days. And the oft-repeated joke that the popular Christmas song written by a sugar baron will reappear on the country’s airwaves during the start of the so-called “ber” months will soon come true. Some households will also begin adorning their homes with decorations that celebrate the most wonderful time of the year as early as the first week of September.
Apart from the trimmings and the songs that remind us of a festive holiday season, more expensive items also return to store shelves during the “ber” months. The price of these items tends to go up as Christmas approaches and demand for them rises exponentially. This includes food products, particularly those that are usually served during the Noche Buena, when families partake of delectable dishes.
Some of the popular food items that appear on the Noche Buena spread are pork ham, noodle dishes and barbecue. Prices of these items are usually higher in December because of strong demand. In recent years, even produce used in making popular Filipino dishes, such as onions, skyrocketed to unprecedented levels. (See, “Government banks on imports to temper onion prices,” BusinessMirror , January 11, 2023).
While the inflation rate for food and nonalcoholic beverages decelerated to 5.4 percent in December 2023, from the previous year’s 10.2 percent, it was the top driver of inflation during the month. Food and nonalcoholic beverages accounted for more than half of the overall inflation in December 2023. The products with the highest contribution to food inflation during the month were cereals and cereal products, including pasta products; fish and other seafood; and milk, other dairy products and eggs.
It can be inferred from the figures provided by the PSA that spending for the Noche Buena and Media Noche spread may have played a role in accelerating prices in December 2023. Unfortunately, there is no existing data on the average cost of a Noche Buena or Media Noche feast in the Philippines. Those who wish to estimate the cost of a feast or two feasts in December would have to rely on the suggested retail prices issued by the government.
Policymakers who wish to prevent a repeat of the spikes in the prices of food items and agricultural products seen during the Yuletide season in 2022 and ensure that holiday food items would remain accessible even to poor families should consider the initiative undertaken by the American Farm Bureau Federation. The farm bureau has been tracking the cost of Thanksgiving dinner since 1986. The group includes responses from all 50 states and Puerto Rico, mostly consisting of “volunteer shoppers” or members checking prices, visiting their local grocery stores to survey prices of the various items used to prepare a classic Thanksgiving feast.
As part of the survey tradition, volunteers collect price data on turkey, cubed stuffing, sweet potatoes, dinner rolls, frozen peas, fresh cranberries, celery, carrots, pumpkin pie mix, pie shells, whipping cream and whole milk. Despite elevated food prices, the farm bureau noted that an American consumer spends only 6.7 percent of their disposable income on food – the lowest of 104 countries measured by the Department of Agriculture in 2022. Part of the reason US food prices remain comparatively low is the presence of effective risk management and safety net programs that help stabilize agriculture markets and revenues farmers receive in an inherently uncertain and volatile industry, according to the group.
Timely completion of projects
TMark Villar
THE BUILDER
he government is allocating around P1.5 trillion from its 2024 budget for infrastructure development, representing more than 5 percent of the country’s gross domestic product (GDP).
The significant investment underscores the Marcos administration’s commitment to enhancing the nation’s infrastructure, which is crucial for sustained economic growth. The actual investment could be higher, if we are to include public-private partnerships (PPPs) and foreign financing through official development assistance (ODA).
Per Republic Act 8182, ODA is foreign aid that supports sustainable social and economic development. ODA loans typically come with low-interest rates, making them an attractive option for funding major infrastructure projects in developing countries, such as roads, bridges and railways. The primary sources of ODA loans for the Philippines include Japan, the Asian Development Bank, the World Bank, China, South Korea and the United States.
ODA loans come with a caveat, though. Contractors building the ODA-funded projects usually come from countries that are financing the projects. These companies may not necessarily be familiar with the local setting, which could lead to the tedious process of dealing with sup -
Founder
pliers and workers.
As the government ramps up its infrastructure budget, it is expected to increasingly rely on ODA loans for larger projects, especially those that require foreign expertise and technology. For instance, the Metro Manila Subway project is tapping into Japanese technical know-how to ensure its successful completion.
While the government’s emphasis on infrastructure is admirable, there is a pressing need to ensure that these projects are completed on time. Delays in infrastructure projects can have major consequences, including cost overruns, lost economic opportunities and potential penalties. These delays can also disrupt the government’s economic targets, which often rely on the timely completion of major projects.
For example, the timely completion of an airport outside Metro Manila could significantly boost regional growth by creating jobs during construction and increasing visitor arrivals and spending once operational. Such projects have a ripple effect on the local economy, underscoring the importance of meeting
APrinted by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila
By Alastair Gale
ChiNeSe military aircraft entered Japanese airspace in an unprecedented move, suggesting Beijing’s willing to take a harder stance as the rivals spar over territory, trade and detained citizens.
Japan’s top government spokesman Yoshimasa Hayashi called the incursion unacceptable, adding “this is not just a serious violation of our territory but also a threat to our security.” China has yet to comment on the incident.
The incursion took place before noon on Monday. Japan scrambled fighter jets to warn off a Chinese Y-9 intelligence-gathering aircraft that spent two minutes in Japanese territorial airspace near uninhabited islands off Japan’s south coast.
The incident was the first confirmed incursion into Japan’s airspace by a Chinese military aircraft, according to an official at the Defense Ministry, who asked not to be identified in line with ministry custom.
It comes as China clashes with the Philippines, another American ally in Asia, ahead of talks this week between senior Chinese officials and US National Security Adviser Jake Sullivan in Beijing.
Japan frequently launches fighter jets when Chinese and Russian aircraft approach its territory. Those scrambles rose to a monthly high this year of 85 in July, according to Japan’s military. Until Monday, Chinese military aircraft had avoided entering Japanese airspace.
The air incursion comes after Kyodo News and other media reported that a Japanese destroyer sailed into Chinese territorial waters last month, despite being warned by Chinese vessels. Japan’s Defense
deadlines. The National Economic and Development Authority (Neda) recently released its 2023 ODA Portfolio Review, which presents a mixed picture of the country’s progress. On one hand, ODA loan disbursements increased by 27 percent in 2023, reaching $15.8 billion. On the other, 45 of the 77 Investment Coordination Committee-approved ODA-funded projects were classified as problematic.
As of end-2023, the Philippines’ active ODA portfolio stood at $37.29 billion, encompassing 113 loans and 325 grants. Neda Secretary Arsenio Balisacan attributed the increase in ODA utilization to the government’s focus on economic recovery and infrastructure development under the Marcos administration’s “BuildBetter-More” program.
In 2023 alone, the Philippines secured 13 new program loans worth $6 billion, 17 new project loans totaling $6.08 billion, and 57 new ODA grants amounting to $240.53 million. These figures indicate the government’s success in securing funding for its infrastructure ambitions.
However, the Neda report identified significant challenges that could hinder the effective utilization of these funds.
One of the key issues highlighted in the report is procurement delays, which have plagued many ODAfunded projects. These delays, often compounded by right-of-way acquisition issues, led to project backlogs and deadline extensions. As a result, the government paid $13.87 million in commitment fees for delayed ODA projects in 2023, up from $10.7
Ministry has declined to confirm the report.
The ministry released a map Monday showing the flight path of the Chinese Y-9 aircraft, which is equipped to gather electronic signals and other intelligence. The plane circled the area near Japan’s Danjo islands before entering Japanese airspace, and then headed back toward the Chinese mainland.
While China has sought stable ties with the US in recent months, it has also shown a willingness to increase pressure on Washington’s allies. Last week, the Philippines said China shot flares at a Filipino plane that was conducting a patrol in the South China Sea.
Japan and China have deep economic ties but their relations are troubled by an array of differences, including China’s claim to Japanesecontrolled islands in the East China Sea. On most days, Chinese coast guard ships patrol near the territory, known as the Senkaku islands in Japan and Diaoyu islands in China.
million in 2022. Commitment fees are penalties charged by lenders for unused portions of the ODA loans.
Among the projects facing delays, the Asian Development Bank-funded South Commuter Railway Project incurred the highest commitment fees in 2023, amounting to $2.41 million. Such delays not only increase costs but also postpone the benefits that these projects are expected to deliver to the public.
To address these challenges, the Neda ODA review recommends several measures aimed at improving the effective use of ODA funds. Neda stresses the need for a whole-of-government approach and stronger collaboration with development partners. This includes enhancing agency procurement capacities, streamlining site acquisition processes and ensuring better coordination among implementing agencies, development partners, local government units and stakeholders.
By addressing these issues, the government can improve the chances of completing infrastructure projects on time. Timely completion not only maximizes the benefits to communities but also enhances overall mobility, improves government services and raises the quality of life across the country.
Ensuring that these projects are finished within their set timelines is crucial in achieving the country’s long-term economic and social development goals.
For feedback e-mail to senatormarkvillar@
After Japan started releasing treated radioactive water into the sea from the destroyed Fukushima nuclear power plant last year, China imposed a ban on all seafood from Japan. Tokyo has also raised concerns with Beijing about Japanese citizens detained in China.
On Monday, Japan summoned China’s acting ambassador to protest the air incursion and called for steps to prevent a recurrence. In a separate meeting, a senior Japanese Foreign Ministry official pressed a Chinese Foreign Ministry official on the seafood ban, detained citizens and the disputed island issue, according to a statement from the Japanese side.
There have been two previous incursions by Chinese government civilian aircraft—one by a propeller plane in 2012 and another by a drone in 2017, according to an official at the Defense Ministry, who asked not to be identified in line with ministry custom. with assistance from Yasufumi Saito /bloomberg
Ambassador Antonio L. Cabangon Chua
Since 2005
PDD’s $55 billion stock crash sends warning on Chinese economy
One of the last remaining bright spots for Chinese consumption is rapidly fading, as the nation’s economic malaise takes a toll on demand for even the most accessible of goods.
In the latest warning to global markets on the health of the Chinese economy, Temu-owner PDD Holdings Inc. on Monday surprised investors with an unusually gloomy outlook. The e-commerce firm, which became a market darling with low-priced goods that helped propel sales and profits during China’s economic downturn, also reported revenue that missed estimates. During a post-earnings briefing, CEO Chen Lei mentioned at least eight times that revenue and profits must “inevitably” decline as economic growth slows.
“We are seeing many new challenges ahead, from changing consumer demand, intensifying competition, and uncertainties in global environment,” Chen, also one of PDD’s earliest employees, told analysts.
The CEO and his lieutenants were careful to stress they remained confident in Chinese consumption over the longer term—a big priority for Beijing in rebalancing the world’s No. 2 economy. But the damage was done. PDD’s shares plunged 29 percent in their biggest fall on record, wiping out $55 billion of market value. Its closest rivals Alibaba Group Holding Ltd. and JD.com Inc. followed suit, sliding about 5 percent in Hong Kong.
PDD’s warning stunned investors because the company was long viewed as the main beneficiary of a Chinese “consumer downgrade”—its low-pricing strategy on Pinduoduo domestically and Temu abroad was intended to appeal to cost-conscious shoppers at a time of unprecedented economic volatility.
The disappointing results were the latest in a series of red flags about the Chinese economy. This week, popular fast food chain Din Tai Fung—long one of the most popular restaurant brands across the country—revealed it was shutting more than a dozen outlets. Last month, Starbucks Corp. disclosed a 14% plummet in Chinese revenue in the June quarter.
“The big issue is weakness in China consumer,” said Joshua Crabb, head of Asia Pacific equities at Robeco Hong Kong Ltd. “The readacross for competition and a weak consumer will be negative for sure.”
While Starbucks and Din Tai Fung have long wrestled with volatile sentiment, PDD’s warnings were especially surprising given it encapsulated for years how cash-strapped Chinese consumers spurned luxury brands for lower-end alternatives.
Founded by ex-Google engineer Colin Huang in 2014, the company in past years has combined low prices with aggressive rural expansion and game-like elements on its platform to grab market share from Alibaba and JD. It parlayed that formula into the global e-commerce bargains app Temu, which it launched during the Super Bowl in 2023. That app has become a shopping phenom akin to Shein, becoming for a time one of the most downloaded US apps.
That drove a remarkable six-fold gain in market value from the postCovid troughs of 2022, crowning Huang China’s richest person this month. But he held the mantle for just 18 days, till Monday’s selloff.
China’s less affluent consumers outside of glitzy mega cities drove much of PDD’s success. They’re now a big source of uncertainty.
Consumption, a main driver of the economy, weakened this year after a rebound in post-Covid reopening spending last year. Against the backdrop of widespread job and salary cuts as well as plunging property prices, Chinese consumers have turned more cautious with their spending, leading to intense price wars in sectors such as cars. Retail sales expanded just a little over 3 percent in the first seven months of 2024, far worse than the 8 percent-plus growth recorded in pre-pandemic times. Residents’ confidence in future income plunged to the worst level since the end of
The CEO and his lieutenants were careful to stress they remained confident in Chinese consumption over the longer term—a big priority for Beijing in rebalancing the world’s No. 2 economy. But the damage was done. PDD’s shares plunged 29 percent in their biggest fall on record, wiping out $55 billion of market value. Its closest rivals Alibaba Group Holding Ltd. and JD.com Inc. followed suit, sliding about 5 percent in Hong Kong.
2022, one of the most intense periods of Covid lockdowns, according to a central bank survey conducted in the second quarter.
Almost half of the residents polled said employment is “grim and difficult,” the highest proportion since the end of 2022. Nearly two thirds of those surveyed said they’re willing to save more, hovering near an alltime high recorded last year.
Lei signaled that there was a fundamental shift in consumer behavior, a move away from the bargainbasement products that have turbocharged revenue since its founding.
“Consumers are making more thoughtful decisions to balance quality and value,” he said on the earnings call. “In response, we have collaborated with high-quality brands and manufacturers to create customized products that cater to these diverse demands.”
For some investors, PDD executives were merely trying to contain expectations run amok. After all, it may be unreasonable to expect the company to keep logging 50 percentplus growth, as it’s done in all but one quarter on record. Wall Street was betting on PDD to almost double revenue during the June quarter. Instead, it rose 86 percent. On Monday, executives said they will make big investments to capitalize on future opportunities.
PDD’s result “implies weak consumption and intense competition. However, management’s comments on declining long-term profitability are too conservative, in our view,” Morgan Stanley analysts Eddy Wang and Kathy Zhu wrote.
“PDD’s indication on August 26 of lower profitability as the company boosts spending to tackle increased global competition suggests downside to 2H earnings consensus, which was projecting higher margins into 2025. This, along with PDD’s first revenue miss in 10 quarters for the three months ended June, looks set to dampen the growth outlook for the next 12 months,” said Bloomberg analysts Catherine Lim and Trini Tan.
In the long run, much depends on the job market, and how Beijing steers the economy. Authorities have sought to ensure there are enough jobs even as the economy slowed, calling on state-owned enterprises to expand recruitment and vocational training.
But officials stopped short of providing more direct help to consumers, though many economists have called for a cash subsidy or consumption voucher for at least the low-income groups. They have also refrained from taking measures to support wage growth, which is essential to encourage more spending. Regulatory crackdowns in a number of industries ranging from private tutoring to finance over the past few years have also worsened the job market.
For now, many investors are still counting on PDD to at least outshine its peers in a turbulent economy.
“We believe PDD is the only Chinese e-commerce player that will outperform industry growth,” the Morgan Stanley analysts wrote. With assistance from Yujing Liu, Catherine Ngai and Dong Lyu /Bloomberg
The pathetic ₧64 food threshold
By Xandra Liza C. Bisenio
The public has recently engaged in all sorts of satire on the government’s P64 food threshold. Others have been looking for conspiracy theories on the figure’s absurdity. I’ve been more inclined to look for my own sanity.
The other night, I bought three salted eggs for P50 and three tomatoes for P20 from my suki (favorite vendor). While paying, I joked, “O, lampas na ang P70 sa P64 na threshold (O, P70 is more than the P64 threshold).” Amused, my suki replied, “Onga. Wala pang rice ’yan ‘Teh (Yes, and you still don’t have rice to go with that).” She added, shaking her head, Usap-usapan nga dito ngayon sa talipapa ’yang P64 na sabi. Ang baba talaga e (That P64 food threshold has been the talk around the small neighborhood market lately. It’s just too low).”
I then added a 6-pack of tinapang salinas (smoked local fish) worth P40. That would be lunch for three people the following day. Add oneand-a-half cups of rice, costing around P10.30 from the P55-a-kilo I recently bought, it totals P120.30. Divide by three, lunch costs P40.10 per person. Considering that my husband and I have already cut down on rice to let our bunso (youngest child) eat as much as he needs.
The next evening, I had to eat in between work and errands. Exhausted from a two-hour commute due to terrible post-rain traffic, I looked forward to a meal of pancit canton,
an egg, and instant coffee. This quickto-cook meal cost P31, multiplied by three, it would still be over the official food threshold. But who would want to have this meal every day?
I recall urban poor leader Ka Mimi Doringo saying that P64 can buy cheap meals, like the bentelog (P20 rice, egg, and hotdog/longganisa/ embutido) or instant noodles, but these won’t provide the nutrients we need. One ends up sick or malnourished from repeatedly consuming these, she said, which would eventually entail more expenses.
The government presents a menu that it describes as “sufficiently nutritious,” but come to think of it, P64 is not even enough for this menu. Mixed with either boiled rice or corn for each meal, the menu consists of: scrambled egg and coffee with milk for breakfast; boiled monggo (mung beans) with malunggay (moringa) leaves, dried dilis (anchovy) and a banana for lunch; and fried fish or boiled pork and a vegetable dish for dinner. I made real-life computations. I’m getting free malunggay and talbos ng kamote (camote shoots) as the lunch and dinner greens from our backyard. Breakfast costs P21.90, lunch
P28.90, and dinner P23.60. That’s P74.40-P97.40 for one person per day. Here’s the breakdown: Breakfast—P21.90
P6.90—1 serving of rice from P55/kilo
P7.00—smallest egg available
P8.00—3-in-1 coffee
Lunch—P28.90-P41.90
P6.90—rice
P5.00—small pack of monggo
P0.00—malunggay (picked from the backyard; P10.00 if bought per bunch)
P10.00—small pack of dilis
P7.00—banana from 5-piece
P35-peso bunch (P10.00 if bought per piece)
Dinner—P23.60-P24.60
P6.90—rice
P16.70—1 of 6 P100 galunggong
P0.00— talbos ng kamote (P10.00 if bought per bunch)
This doesn’t include snacks, cooking oil, and condiments. But the Philippine Statistics Authority (PSA) argues that the menu is based on the least-cost method approach, which means the lowest possible cost to arrive at the menu. It must be prepared at home, PSA says, not to be bought in stores. It must be based on minimum basic needs.
Even if we spend a day to scour the markets for the ingredients for that menu, we won’t find the least cost in real life. This has led the ordinary people to believe that the PSA is living in another planet.
What makes the food threshold even more pathetic is that it is based on a food basket that was last revised by the government in 2011. The government may argue that things are cheaper by the dozen. But who has the capacity to buy in bulk? Low-income families always buy tingi (in small quantities), because their incomes also come that way, tingi And what cheaper by the dozen are we talking about when inflation is permanent and harsher on the poor?
This is the reality—the government deliberately maintains a ridiculously low threshold for food poverty and poverty in general to set a low standard for wage setting and standard of living. These are favorable to attract investors, and also for the government to maintain a low ambition to address poverty. This low ambition has also allowed the government, by policy, to turn a blind eye to growing inequality and gap between rich and poor. Is it a conspiracy? No, it is more of a systemic perpetuation of poverty conditions while the elite, the super-wealthy and foreign investors, reap increasing profits. They are enabled by government policymakers and economic managers who are so privileged that they can only make mechanical estimates of a low food threshold that justifies their complacency in poverty eradication.
Xandra Liza C. Bisenio heads the Media and Communications Department of IBON Foundation
Myanmar junta set to lose restive state to ethnic armed group
By Philip J. Heijmans
MyanMar’s junta is on the verge of being expelled from a western-most state bordering Bangladesh, according to a new report, marking the one of the biggest military losses since a 2021 coup led to renewed civilian conflict across the country.
The Arakan Army has made rapid advances across Rakhine state since November last year and is set to create the single largest area controlled by an ethnic armed group since the coup, the International Crisis Group said in a report on Tuesday.
Formed in the borderlands of China, the armed group is responsible for some of the military junta’s most decisive battleground losses over the past year. Their victories are rallying other ethnic armed groups and pro-democracy fighters to dislodge military regime led by coup leaderturned-President Min Aung Hlaing.
“The Arakan Army is in the process of carving out a proto-state of over a million people on the Myan-
mar-Bangladesh border,” International Crisis Group said in the report.
“Although the Myanmar military has countered with indiscriminate attacks and a blockade that is causing huge economic distress, the armed group” has pushed on.
Other reports show the military has lost control over most of the nation’s townships, and last month it extended emergency rule again as the security situation deteriorates.
Compounding those problems is a worsening economic picture with 76 percent of the population living below or perilously close to a subsistence existence, the United Nations Development Program said in April.
The Arakan Army has achieved
key victories along Rakhine’s coast, and it’s now poised to attack Sittwe, the state capital. A key target is the island township of Kyaukphyu, which hosts critical Chinese infrastructure projects.
Rakhine is also home to Myanmar’s vulnerable Rohingya population. This month marks seven years since the start of military operations that drove some 700,000 people across the border into Bangladesh, events that the US later determined had amounted to “genocide and crimes against humanity.”
Violence against the Muslim-minority group has continued. Volker Turk, the United Nations human rights chief, expressed “grave alarm” last week about the sharply deteriorating situation in Rakhine State where hundreds of civilians have reportedly been killed as they flee the fighting.
According to information documented by the UN Human Rights Office, both the military and the Ara-
kan Army have committed serious human rights violations and abuses against the Rohingya, including extra-judicial killings, some involving beheadings, abductions and forced recruitment.
Whether the Arakan Army can leverage economic resources in Rakhine after the junta is gone however remains a significant challenge, said Thomas Kean, Crisis Group’s senior consultant on Myanmar and Bangladesh. While it doesn’t have visible infrastructure with neighboring countries, China has long planned to build a deep-sea port, a special economic zone and a high-speed railway in Kyaukphyu.
“The rise of the Arakan Army in western Myanmar is certainly a challenge for China, primarily because of Beijing’s economic and strategic interests in the region,” he said. “China wants to ensure there is no disruption or damage to its investments.” With assistance from Khine Lin Kyaw /Bloomberg
Macron continues premier talks after rejecting leftist pick
By Ania Nussbaum
RENCH President Emmanuel
FMacron is continuing consultations on appointing a prime minister on Tuesday after ruling out a government led by leftist candidate Lucie Castets in favor of a possible centrist coalition.
Macron began a series of meetings on Friday to sound out party chiefs on a compromise to try to end weeks of uncertainty following his decision to call snap elections that left no group with a majority in the National Assembly.
Castets, the candidate proposed by the New Popular Front alliance, would “immediately be rejected by all the other groups” in parliament, according to a statement distributed late Monday by Macron’s office following talks with Marine Le Pen of the far-right National Rally and other party leaders.
Discussions with centrist parties allied to Macron “identified possible avenues for coalition and cooperation,” according to the statement. “These groups have shown openness to supporting a government led by someone from outside their ranks,” it added, inviting Socialists, Greens and Communists to cooperate more widely.
Olivier Faure, who leads the Socialists within the New Popular Front, said the president’s comments
were “unbelievable.”
“Rejecting the vote of the French people, explaining that it’s not legitimate, essentially saying that he’ll propose a government of the defeated,” he told France 2 television on Tuesday. “How have we come to such a denial of democracy? There’s a democracy problem in France.”
The alliance, which also includes the far-left France Unbowed, claimed the right to propose a premier after it won the most seats in the election and nominated 37-year-old civil servant Castets.
Le Pen told Macron on Monday her group would oppose a New Popular Front prime minister, saying she won’t back anyone from the alliance because it includes JeanLuc Melenchon’s France Unbowed. She dismissed comments he made this weekend suggesting he’d be open to a Socialist-led government without any ministers from his party.
“This changes strictly nothing,” she told reporters after meeting with the president in Paris. “It’s Jean-Luc Melenchon who would actually rule this government.”
The New Popular Front has 193 out of the 577 seats in the National Assembly, meaning Castets would be vulnerable to a no-confidence motion that would bring down her administration. While the choice of
premier is not up to Le Pen, National Rally and its allies have 142 lawmakers, making them a key part of Macron’s political math.
The president’s aides had been dismissive of Castets, citing reluctance in parliament to work with Melenchon’s movement. The conservative Republicans have also rejected the idea.
According to Macron’s statement, a New Popular Front government would immediately be censured, with an absolute majority of 350 lawmakers against it.
“A very fragmented parliament means the most extreme political outcomes have become very unlikely. But finding a majority will be tough—the next government will be fragile and political uncertainty will remain elevated.... This unstable political situation makes it even less likely France will manage to comply with EU fiscal rules and bring debt back to a sustainable path. This is making markets jittery,” said Bloomberg economists Maeva Cousin and Eleonora Mavroeidi.
Macron’s decision to call a snap vote after his group was trounced by the far right in European Parliament elections in June triggered a major selloff in French assets and led to weeks of political uncertainty.
French stocks tanked relative to the rest of the European Union and
have yet to recover. The spread of 10-year French debt over equivalent German bunds, a measure of perceived additional risks, has also barely declined.
Addressing entrepreneurs at the annual conference of business lobby Medef on Monday, National Assembly President Yael Braun-Pivet said the euro area’s second-biggest economy can’t afford to ignore its public-debt challenges and that it needs stability to preserve the trust of investors.
“We must avoid policies that dogmatically destroy reforms that have gotten results,” she said. “While it takes 10 years to build confidence, it takes only a few days to undo it.” Speaking to BFM Business TV at the same event on Tuesday, Eric Trappier, the head of Rafale fighter jet maker Dassault Aviation SA, said the New Popular Front’s economic program involving increased taxation and public spending “had us worried” and said the next government must bring reassurance.
“Industry works on the long term, it needs stability, there’s a lot to work on and a lot of investment needed, and to invest, you need a climate of confidence,” he said. “Better to have money from abroad coming to France than French money leaving the territory.” With assistance from William Horobin and Jenny Che / Bloomberg
VP Sara opts not to defend OVP ’25 budget in House
IBy Jovee Marie N. Dela Cruz @joveemarie
N a rare decision, the House Committee on Appropria -
tions has postponed the budget deliberations for the Office of the Vice President, with the briefings scheduled to continue on September 10.
This, after President Sara Duterte on Tuesday chose not to defend her office’s proposed 2025 budget before the House Committee on Appropriations.
“I would like to forego the opportunity to defend the budget in a question-and-answer format. I will leave it up to the House to decide on the budget submitted,” Duterte said.
House Committee on Appropriations Senior Vice Chairperson Stella Luz Quimbo reminded Duterte of the significance of the interpellation process in Congress’s budgetary procedure, pointing out that 17 lawmakers were listed as interpellators.
“This is an important part of the budget briefing. The General Appropriations Act is arguably the most important piece of legislation every year,”
Quimbo said.
Duterte declined to address questions from lawmakers about the confidential funds previously allocated to the OVP, opting instead to leave the defense of her office’s budget to others.
However, Duterte did discuss issues related to the use of public funds in her opening remarks before the committee.
Notice of disallowance
THE Commission on Audit (COA) has issued a notice of disallowance regarding P73 million in confidential funds disbursed by the OVP in 2022, House Deputy Minority Leader France Castro said.
“I have a report here on the notice of disallowance. It indicates that P73 million out of P125 million in confidential funds used by the OVP in 2022 has been disallowed. This represents 58.63 percent of the total funds. Can you confirm this, Vice President?” Castro asked.
Duterte, however, avoided responding directly to Castro’s inquiry, dismissing it as irrelevant.
“The rules state that discussions
should be relevant to the topic. This is a hearing on the 2025 budget. Where does the issue of confidential funds fit in?” Duterte responded.
Castro challenged Duterte’s reaction, suggesting that the Vice President was overstepping the chairperson role in the deliberations.
In response, Duterte raised a personal issue, questioning Castro’s credibility due to a lower court conviction related to endangering minors, a case currently under appeal. “I do not understand why someone convicted of child abuse is sitting in the House of Representatives. If you allow such comments, why not allow mine?”
Duterte said.
Duterte further criticized the handling of the session, addressing Quimbo, “Madam Chair, since you allowed a comment that I find inappropriate, I request the same freedom to make my own comment.”
Castro shot back, likening Duterte’s responses to squid squirting ink when cornered.
“The Office of the Vice President should not act like a squid,” Castro remarked.
By Reine Juvierre S. Alberto @reine_alberto
Disappointment
MEANWHILE , in her opening statement, Duterte expressed disappointment that some of her ambitious plans, such as establishing a permanent office for future Vice Presidents, a Vice-Presidential Museum, and securing a charter for the OVP, may not materialize due to the “current political environment.”
On the topic of budgetary issues and political influence, Duterte referenced comments made by Senator Imee Marcos during a Senate budget hearing, which acknowledged the broader impact of politics on the allocation of financial aid.
On the issue of security personnel detailed to the OVP, Duterte clarified that the number of security personnel is not determined by her office, noting that there were legal issuances made by the Department of National Defense (DND), Armed Forces of the Philippines (AFP), Philippine National Police (PNP), and National Police Commission (Napolcom) for the creation of the AFP-Vice Presidential Security and Protection Group
See “VP Sara,” A5
STATE-RUN Maharlika Investment Corporation (MIC) will embark on its inaugural investments in two ventures in the energy sector within the next two to three months, according to its top official.
MIC President and Chief Executive Officer Rafael Consing, Jr. said the company currently has eight memorandum of agreement (MOA) and is undertaking due diligence on two “very important” investments in the energy sector.
“We expect that in the next 60 to 90 days, we should be able to deploy,” Consing said in the Department of Finance’s (DOF) budget hearing in the Senate on Tuesday.
Consing said earlier its first investments will be made along the themes of energy security, specifically in transmission grids of small power utilities groups (Spugs). He expects to raise about $1 billion in investments from the energy sector alone.
The country’s first sovereign wealth fund—the Maharlika Investment Fund—is managed by the MIC. It has generated about P144 million
in retained earnings in 2023, according to Consing.
With its seed money invested in state coffers, Consing said the MIC has earned P1.4 billion in interest income.
With a budget of P336 million for capital expenditures, the MIC chief said they have yet to spend its budget.
The MIC now has an office at the ORE Central building in Bonifacio Global City in Taguig City.
According to Republic Act No. 11954 creating the MIF in 2023, the MIC’s investments shall generate optimal returns while contributing to the overall goal of reinvigorating job creation.
It shall also accelerate poverty reduction by sustaining the economy’s high growth trajectory while ensuring sustainable development.
The MIC shall have an authorized capital stock of P500 billion, of which the P125billion seed capital will come from state-run lenders Land Bank of the Philippines and the Development Bank of the Philippines.
The P75 billion collectively remitted by the two state-run lenders is still P50 billion short as required by the law.
Admiral says US military open to escorting PHL ships
MANILA—The US military is open to the possibility of escorting Philippine ships in the disputed South China Sea, depending on consultations under the allies’ 1951 Mutual Defense Treaty, the head of US Indo-Pacific Command said Tuesday amid a spike in hostilities between Beijing and Manila in the disputed waters.
Adm. Samuel Paparo’s remarks, which he made in response to a question during a news conference in Manila with Philippine Armed Forces chief Gen. Romeo Brawner Jr., provided a glimpse of the mindset of one of the highest American military commanders outside the US mainland on a prospective operation that would risk putting US Navy ships in direct collisions with those of China.
Chinese coast guard, navy and suspected militia ships regularly clash with Philippine coast guard and navy vessels during attempts
to resupply Philippine sailors stationed on remote features claimed by both countries. These clashes in the South China Sea have grown increasingly hostile, resulting in injuries among Filipino forces and damage to their ships. The Philippine government has faced questions about whether it should consider invoking its treaty alliance with Washington.
Paparo and Brawner spoke to reporters after an international military conference in Manila organized by the US Indo-Pacific Command, at which China’s increasingly assertive actions in the South China Sea were spotlighted. Military and defense officials and diplomats from the US and allied countries attended but there were no Chinese representatives.
Asked if the US military would consider escorting Philippine ships delivering food and other supplies to Filipino forces in the South China Sea, Paparo replied,
“Certainly, within the context of consultations.”
“Every option between the two sovereign nations in terms of our mutual defense, escort of one vessel to the other, is an entirely reasonable option within our Mutual Defense Treaty, among this close alliance between the two of us,” Paparo said without elaborating. Brawner responded cautiously to the suggestion, which could run afoul of Philippine laws including a constitutional ban on foreign forces directly joining local combat operations.
“The attitude of the Armed Forces of the Philippines, as dictated by the Philippine laws, is for us to first rely on ourselves,” Brawner said. “We are going to try all options, all avenues that are available to us in order for us to achieve the mission…in this case, the resupply and rotation of our troops.”
“We will then seek for other options when we are already constrained from doing it ourselves,” Brawner said.
TEODORO TAKES A
on August 27, 2024, Defense Secretary Gilberto Teodoro Jr.
South China Sea, Teodoro
Editor: Jennifer A. Ng
ACEN, Barito Renewables forge exclusive partnership
By Lenie Lectura @llectura
ACEN Corp. and PT Barito Renewables Energy Tbk (Barito Renewables) announced Tuesday that they forged an exclusive partnership to hasten the development of wind renewable energy (RE) projects across Indonesia.
ACeN said in a disclosure to the stock exchange that the partnership will be executed through its subsidiary, ACeN Indonesia Investment holdings Pte. Ltd., and Barito Renewables’ subsidiary, PT Barito Wind energy. This partnership builds on the acquisition of three wind projects in South Sulawesi, Sukabumi, and Lombok that was previously announced last January. These three wind power projects have a combined capacity of 320 megawatts (MW) and will include battery energy storage solutions to
enhance grid stability.
“This exclusive partnership with Barito Renewables represents a bold step forward in our commitment to advancing Indonesia’s renewable energy sector. It not only aligns with AC e N’s growth strategy in the region but also exemplifies our dedication to fostering innovative and sustainable energy solutions,” said AC e N Group Chief Investment Officer Patrice Clausse.
AC eN said the strategic partnership also signals a robust commit -
ment to exploring and developing innovative wind energy projects that will play a vital role in Indonesia’s transition to a low-carbon economy.
“Our exclusive partnership with ACeN represents a significant step toward realizing our mission of driving sustainable energy growth in Indonesia. This strategic move underscores our commitment to pioneering renewable energy solutions and contributing to a greener future,” said Barito Renewables CeO hendra Tan.
ACeN is the listed energy platform of the Ayala Group with a fastgrowing presence in the Philippines, Australia, Vietnam, India, Indonesia, Lao PDR and the United States. The company currently accounts for 4.8 gigawatts (GW) of attributable renewables capacity in operation and under construction.
The company aims to provide clean, reliable and affordable energy in the Asia Pacific and grow its renewables capacity to 20 GW by 2030. The company has been pioneering initiatives in early coal retirement and committed to becoming a Net
Zero greenhouse gas emissions company by 2050.
ACeN’s net income jumped by 49 percent year-on-year to P6.3 billion in the first half due to the 42-percent increase in its attributable R e generation and a further improved net selling position in the electricity spot market.
“This performance continued to be driven principally by the yearover-year addition of new operating capacity from several renewable energy plants in the company’s major markets.
In the Philippines, these new plants allowed ACeN to further improve its net selling position in the Wholesale electricity Spot Market,” ACeN said in a disclosure to the stock exchange.
Total attributable renewables output across ACeN’s markets, supported by the operationalization of several plants over the last six months, amounted to 2,908 GWh, up 42 percent year-on-year.
R e plants in the Philippines generated 1,015 GWh in the first half of 2024, a 77-percent expansion over the same period in 2023.
SEC voids registration of 2 firms
By VG Cabuag @villygc
The Securities and exchange Commission (SeC) has cancelled the corporate registrations of Procap International and Ray International Philippines Corp. for their illegal solicitation of investments from the public.
The agency issued an order revoking the certificate of incorporation of Procap for the violation of the Revised Corporation Code of the Philippines.
The company, according to its articles of incorporation, was prohibited from soliciting investments from the public and issuing invest-
‘Converge is fastest internet service provider’
e RG e ICT Solutions
ONV
CInc. has once again been recognized as the fastest internet provider in the Philippines, securing the coveted Ookla Speedtest Award for the first two quarters of 2024.
Dennis Anthony Uy, the C e O of Converge, said receiving the award for two years in a row challenges the group to continue improving its services and maintain its position.
“In 2023, we took up the mantle of being the Fastest Internet Service Provider in the Philippines. This responsibility continues to be placed in our hands as we, again, were declared by Ookla as giving the best speed experience to Filipinos this first half. We will not rest on our laurels, of course, and we will continue to stay ahead as we leap into the future,” he said. The award is based on an analysis of consumer-initiated tests using Speedtest, a platform for mobile and broadband network intelligence, testing applications, and related technologies. Lorenz S. Marasigan
PSE bolsters ties with Taiwan bourse
The Philippine Stock e xchange Inc. and the Taiwan Stock exchange (TWSe) have entered into a memorandum of understanding (MOU) that will formalize and strengthen the relationship between the two bourses.
PSe President and CeO Ramon S. Monzon and TWSe chairman Sherman Lin led the MOU signing ceremony at the TWSe headquarters in Taipei, Taiwan last week.
Under the agreement, PSe and TWSe will collaborate on product development and market promotion and share best practices in areas such as regulations, environment, social and governance practices and market trends, among others.
“I believe this MOU is a good starting point for the relationship between PSe and TWSe and is key to fostering the friendship recently formed between us and exploring mutually beneficial endeavors for the two bourses. TWSe ’s insights on product and technology development, regulatory and sustainability initiatives will serve as invaluable inputs to our exchange,” Monzon said. The PSe and TWSe will form a working group to carry out the objectives in the areas of cooperation covered by the MOU, the bourse said. The PSe reported last May that stock market accounts rose 11 percent last year to 1.9 million from 1.71 million in 2022, mainly because of the accounts created through the bourse’s
ment contracts.
The SeC’s enforcement and Investor Protection Department found the company to be selling securities in the form of investment contracts through policy plans, promising investors 0.2 percent up to 1.4 percent guaranteed daily income depending on their chosen policy.
The agency also noted that Procap’s operation has the characteristics of a Ponzi scheme wherein the earnings of early investors are funded using the investments of new investors.
In October 2023, the SeC, along with other law enforcement agencies, conducted an entrapment operation against Procap during an event it or-
FILINV e ST hospitality Corp.
(FhC), the hotel operator of Gotianun-led Filinvest Development Corp., said it is targeting to more than double its existing 1,800 hotel keys in the next five years.
Francis Nathaniel C. Gotianun, FhC president said the company wants to add some 2,000 room keys in tourist destinations like Boracay, Palawan, Bohol, Baguio, Clark and Cebu.
“So, I think there’s a lot of focus on the number of keys. But we’re really focusing on creating a collection of hotels in the right locations. So that when we go out into the market, we can sell all the best of the Philippines,” Gotianun said at the sidelines of a forum organized by the Shareholders’ Association of the Philippines Inc.
“We can really see the tourism numbers starting to come back up. Very strong domestic but international, still a little bit below, but we think we’ll catch up.”
The company has at least two projects in Baguio. Gotianun said the company expects strong demand for these projects.
“And there haven’t been many new hotels that have opened in Ba-
ganized in a hotel in Makati City due to its illegal investment solicitation activities. This led to the arrest of 20 individuals including its directors, incorporators, agents and employees.
The SeC issued a cease-and-desist order against the company in February this year.
Meanwhile, Ray International, which does business under the names and styles of Ray education Directions Consultancy Services, Be Unrivaled Productions and Sine Cordillera, was also found to be soliciting investments without approval from the SeC.
The company was found to be offering programs for becoming a real estate agent, and a property saver
or buyer-investor with a promise of guaranteed income of up to P61,000 for 24 months, depending on the investment.
It also promotes becoming a passive investor as a partner-financier for an investment ranging from P300,000 to P10 million, with a total income of P108,000 up to P3.6 million in 12 months.
Last June 2023, the SeC issued a cease-and-desist order against Ray International, along with other companies such as Casa Infini Builders and Realty Co. Ltd., Casa Infini Realty Management Co., Ltd., and Casa Infini Properties and Development Corp., where its incorporator also holds controlling positions.
guio in the recent years. So, we feel that there’s pent-up demand in the market,” he said.
Last June, Filinvest topped-off its latest hotel development—the P2.7-billion Grafik hotel Collection located within Camp John hay in Baguio. This marks the official launch of Grafik hotel Collection, a new line of hotels aiming to deliver guest experiences that will inspire stories about Filipino culture and heritage, the company said. The company is also set to develop
a 730-square meter prime property in Camp John hay in Baguio, after winning the bid for a six-year lease contract offered by the Bases Conversion and Development Authority and John hay Management Corp. Located along Sheridan Drive in Camp John hay, the property is a stone’s throw away from Grafik hotel Collection Baguio. hospitality business contributes only about 3 to 4 percent of total revenues in FDC, which Gotianun said is “pretty small.” VG Cabuag
Partnerships and collaborations are the way to go
DURING my recent trip to Cebu,
that two real estate giants ventured into a joint undertaking to develop a portion of Cebu’s coastal area. Is this the way to go? Is there a trend towards partnerships and collaborations?
While this has been a practice of organizations from decades back, TrendSeekers Philippines found that there has been a considerable increase in collaborations or collabs to increase business size and reach. And in fact, this trend is not limited to big organizations, but is increasingly becoming popular among smaller businesses as well.
Here’s why you should go into partnerships and collaborations.
Focus on the area of your strength. Effective partnerships provide the right environment to showcase each other’s strengths. Bringing two or more partners with varying expertise and strengths will allow for improved products and services, which may help to strategically propel the team farther forward. As Mother Teresa once said, “I can do things you cannot, you can do things I cannot; together we can do great things.”
Better mileage with shared resources. One thing sure about resources is that it’s always limited. You can only move as much based on the available resource that you have for a particular timeframe, product or endeavor. But once you partner with others, you will also benefit from whatever they bring to the
table. That’s the beauty of partnerships and collabs—you gain more mileage through shared resources. Get to where you want to be much faster. As you gain more business traction as a result of sharing resources, you also get to reach your goals much faster. But you need to approach partnerships and collabs more strategically to make sure that what the other partners offer will help catapult your business towards success and vice-versa.
Improved branding. Speaking of strategic business directions, it is worth noting that the resulting brand will initially depend on how each partners are branded individually. And depending on the synergy of collaboration, the partnership brand should likewise improve. Always choose a partner with a positive branding approach that will complement with yours. Ultimately, your network defines your net worth. So better increase your network through strategic partnerships and collaborations and see a considerable growth in your business. Surely, partnerships and collabs are the way to go!
Alexey “Coach Lex” Rola Cajilig is the president of Arcway Consultancy Inc., the executive director of Arc Docendi and the senior vice president and chief operations officer of EM-Core Dotnet Inc. He is a sales leadership coach, strategic sales operations consultant, Christian motivational speaker, human ecologist and the author of “The Effective Seller.” He is also the creator of Arch Styles, a behavioral and personality assessment tool. If you have questions and suggestions, you may send an email to alexey.cajilig@gmail.com.
CITY OF CALAMBA—A seminar entitled “Guiding StartUp Business cum Consumer Education” conducted on August 7 for the informal settlers in different cities and municipalities in Laguna highlights the strong partnership of the Department of Trade and Industry (DTI) Laguna and the Department of Labor and Employment (DOLE) Laguna.
SEN. Loren Legarda frequently showcases her outfits made from patadyong, a woven textile produced in her home province of Antique. The patadyong, named after a traditional outfit, is known for its plaid designs that often resemble those found in popular Hispanic colonial era fashion.
Even Sen. Robin Padilla has embraced the patadyong, incorporating it in his barongs to present a more approachable image, contrasting with his well-known “bad boy” roles in films.
While it has been gaining popularity among celebrities, Anecar M. Vera Cruz, general manager of a multipurpose cooperative that ventured into cotton processing and patadyong weaving, find it a challenging task.
“While they’re very much appreciated, we have yet to find a sustainable market for our products. The young people are not wearing them,” she said.
But the Patnongon Multi-Purpose Cooperative (PMPC) venture into the traditional weaving business was a story in itself.
‘Financially sound’ THEN known as the Patnongon Credit Cooperative Union. The PMPC was considered one of the pioneering cooperatives the province when it was founded with the help of the Mill Hill missionaries in 1964 .
The cooperative first ventured in the lending business, but eventually grew with its savings and time deposit, along with the setting up of the first automated teller machine in Patnongon, a third-class municipality south of Antique, through the network of the National Confederation of Cooperatives. In 2019, it ventured jointly with the Barbaza Multi-Purpose Cooperative in the cable television and Internet businesses, catering to the barangays with no mobile phone signal.
The Department of Trade and Industry, with Legarda’s intervention, turned over the equipment for a feed milling production in 2019, and the following year the cooperative, through the assistance of the Philippine Fiber Development Authority (Philfida), set up a cotton processing and weaving center.
Under a tripartite agreement with the cooperative and the Philfida, the municipal government provided the site the processing center. It started as an ideal arrangement, with Philfida securing the machines for the processing center from India, while the cooperative—being “financially sound”—handled the management and operational expenses in line with Sen. Legarda’s “from fiber to fabric” program, Vera Cruz said.
As an alternative livelihood, the cooperative tapped the out-of-school
youth, women’s groups and the “empowered mothers” to participate in separate training for cotton processing and traditional weaving using the traditional two-pedal handloom.
“It was very challenging because most of them had no experience, “said Vera Cruz of the trainees that participated in the program.
Loida Baldevia, who eventually became operation supervisor in the weaving operation, noted that she herself had been self-taught, having learned the craft while she was assisting the local weavers in her village in Miag-ao, Iloilo. But she noted that all of them learned the design preparation from their formal training.
Cotton industry revival
ACCORDING to Vera Cruz, the government fiber assistance program was meant to to increase the number of cotton farmers and revive the industry, which suddenly waned after a good start in the early eighties.
Since there was no processing center in the province, the cotton produced in Antique were brought to Iloilo at a measly price of P5 per kilo. This time, with a processing center, the cooperative can process 400 kilos within eight hours and purchase
from cotton farmers cotton seeds at P27 per kilo.
But after the Indian company that provided the machines completed the training of the workers, its experts left without properly calibrating the equipment which turned out to be for village and not for industrial production, as programmed. They also found some of the units defective when they started actual production. Despite initial setbacks, Vera Cruz said they continued with their actual processing of cotton, even though most of the workers took turns in troubleshooting the defective units.
They found no problem with the materials, having initially acquired 20 tons of cotton thread from HABI Philippines or the Philippine Textile Council, a non-government organization that helped preserve indigenous textile while at the same time modernizing the local textile Industry since 2009.
Vera Cruz said the processing center was supposed to be the first producer of cotton fiber completing the cycle from the farms to factory in the Western VIsays region if they did not encounter problems with their machines. She noted, however, that when Legarda learned about it,
she assured them that she will help replace the machines. Meanwhile, the Department of Science and Technology’s Philippine Textile Research Institute (DOSTPTRI) had also inaugurated in 2019 the country’s first Regional Yarn Production and Innovating Center at the Iloilo Science Technology University (ISTU). The P42-million facility now produces yarns from blends of natural fibers such as abaca and pineapple, combined with cotton for weaving fabrics.
Vera Cruz said they brought some of their needed materials from the PTRI center. Once they consume all the cotton fibers from HABI Philippines, they will complete a full cycle in cotton production. For starters, she said they will they use the new BT cotton variety this coming planting season.
Developed by Philfida, the genetically-engineered cotton was approved for commercial propagation by the Bureau of Plant Industry late last year after being found to increase cotton yield and being resistant to bollworm infestation.
Vera Cruz said there have been success stories in their traditional weaving specifically citing barangay Bagtason in the municipality of Bugason, where patadyong weavers even started promoting a natural dye to be eco-friendly in preserving their tradition. The village, through the Bagtason Loom Weavers Association when it was established in 2028, has been at the forefront at the forefront of the revitalizing the handloom weaving industry in the province., “As a business, if only there is as right focus on the (cotton) industry, the goal of ‘fiber to fabric’ can really be achieved,” Vera Cruz said. From being a fashion clothing material, the patadyong is now being used as material for scarfs, table runners, hats, wallets and bags. Pio Jessielito C. Sumande, board member of the Antique Sangguniang Panlalawigan, agrees that cotton farmers have now demonstrated their ability to revitalize the once struggling traditional weaving industry. Sumande added, hence, it’s time for provincial and municipal governments to accelerate efforts in promoting the patadyong and identifying the suitable markets to sustain their momentum in the cotton industry. After all, that is how tradition is being preserved to fit modern life.
IPO hopeful’s dilemma: Cram into fall window or wait for 2025
Editor: Vittorio V. Vitug
I noticed
A womAn works inside a factory by the Patnongon multi-Purpose cooperative.
A womAn works on a loom.
Editor: Dennis D. Estopace
Govt must raise ₧17.4B every day to fund ’25 nat’l budget of ₧6.35T
By Reine Juvierre Alberto
THE national government has to raise P17.4 billion every day— collecting P12.72 billion in revenues and borrowing loans amounting to P4.68 billion—to finance the proposed 2025 national budget of P6.35 trillion.
To fund this budget, Finance Secretary Ralph G. Recto asked the Senate to approve the P33.752-billion proposed budget of the Department of Finance (DOF) as the agency responsible of generating revenues.
Recto said the DOF’s budget is higher by 20.79 percent or P5.809 billion from its current budget of P27.943 billion under the 2024 General Appropriations Act (GAA).
“The continued implementation of digitalization reforms and revenue-enhancing programs is crucial to sustaining our collection growth,” he added.
The DOF-wide proposed budget accounts for 0.5 percent of the gov-
ernment’s budget for 2025. Broken down per agency, the Bureau of Internal Revenue (BIR), tasked to collect P3.23 trillion in revenues in 2025, will receive the largest share or more than half (54.4 percent) of the total budget amounting to P17.68 billion.
This is higher by 12.36 percent or P1.945 billion from this year’s budget of P15.739 billion due to increased capital outlay to construct, renovate and rehabilitate BIR’s office buildings and the acquisition of 62 motor vehicles.
The Bureau of Customs (BOC), which will generate P1.06 trillion next year, proposed a budget allo -
Marcos given Bangko Sentral commemorative coins
THE Bangko Sentral ng Pilipinas (BSP) announced that President Ferdinand R. Marcos Jr. was presented with the 7,500Piso Gold and 750-Piso Silver commemorative coins by BSP Governor Eli M. Remolona Jr. on August 27 at Malacañang, in celebration of the 75th anniversary of central banking in the Philippines. The obverse side of both the gold and silver non-circulation legal tender coins features the Intendencia, also known as the Aduana Building, located in Intramuros, Manila. This building served as the first headquarters of the Central Bank of the Philippines.
Banks
On the reverse side, the coins show markings of the year “1949,” the 75thanniversary logo in color, the inscription “Celebrating 75 Years of Central Banking in the Philippines,” the BSP Seal and the year “2024.”
The designs highlight the diamond anniversary, marking 75 years of central banking in the country.
The BSP minted these coins with a mirror-like finish, utilizing the latest digital printing technology. The BSP will announce, through its social media channels, when the commemorative coins will be available for purchase. They will be sold via the BSP Store at https://bspstore. bsp.gov.ph/
‘end game’ for
cation of P5.66 billion, up by 18.95 percent or P902 billion year-on-year from P4.761 billion.
The BOC’s capital outlays surged by 586 percent to finance its acquisition of 17 service vehicles, investments in various ICT and office equipment, and the construction of the second phase of the new BOC building at the Iloilo Commercial Port Complex.
Meanwhile, the budget of the Bureau of the Treasury rose more than half, or 52.8 percent, to P6.461 billion from P4.227 billion due to the National Indemnity Insurance Program.
The Insurance Commission also proposed to double its total budget from P490 million to P1 billion for increased investments in ICT programs and projects.
The budget of the Office of the Secretary was lowered by 4 percent to P966.967 million from P1.007 billion. The bulk of the budget, or MOOE, will facilitate the Financial Sustainability and Revenue Strengthening program and the Asset Liability Management program.
Meanwhile, the Bureau of Local Government Finance proposed a P433.662-million budget in 2025, up by 28.93 percent year-on-year from P336.354 million to bankroll its capital outlays.
The budget of the National Tax Research Center (NTRC) in 2025 was pegged at P144.113 million, down by 11.20 percent from P162.290 in 2024 due to the retirement of NTRC officials and a decrease in the funding requirements for its ICT projects and programs.
The Privatization and Management Office was proposed to have a budget of P111.057 million next year, higher by 8.65 percent from the current P102.220 million.
Lastly, the Central Board of Assessment Appeals’ 2025 budget inched up by 2.49 percent to P18.05 million from P17.613 million in 2024.
“This budget proposal adheres to the highest standards of fiscal discipline and prudent financial management,” Recto said.
This year, the DOF’s budget of P58.36 billion has been obligated by 70 percent in the first half of 2024, translating to P40.85 billion in obligations and ranking fourth highest among government agencies.
Its disbursement rate also reached 90 percent, with P36.87 billion expended during this period.
Senate Committee on Finance Chairman Sen. Grace Poe declared the budget of DOF and its attached agencies “deemed submitted” to the plenary after the deliberations.
NG exceeds borrowing target for Aug by ₧5.2B
THE national government raised a total of P85.2 billion from the sale of Treasury bills (T-bills), exceeding its programmed borrowing of P80 billion in August after the reduction in local key policy rates.
The Bureau of the Treasury (BTr) on Tuesday fully awarded bids for the three short-term debt papers as average yields mostly corrected higher.
Tenders for the 91-day T-bills reached P14.940 billion, allowing the government to raise P6.500 billion.
The average rate of the 91-day Tbills stood at 5.966 percent, higher than the 5.940 percent posted on August 19. This is also higher than the secondary benchmark rate of 5.925 percent for 3-month T-bills based on the PHP Bloomberg Valuation Service Reference Rates.
The accepted rates for the debt paper ranged from a low of 5.934 percent to a high of 5.999 percent.
Meanwhile, the auction committee increased the accepted non-competitive bids for the 182-day T-bills for the second time this month and raised P9.100 billion, higher than the P6.500 billion programmed borrowing.
The investors’ average asking yield for the 182-day T-bills increased to 5.996 percent from 5.989 percent from last week’s auction. In contrast, this is lower than the 6.056 percent benchmark rate for the 6-month Tbills. Rates of the government security settled between 5.960 percent and 6.025 percent.
The Treasury also accepted P7 billion from the sale of 364-day Tbills with demands reaching P19.010 billion. Yields for the 364-day T-bills ranged from 5.985 percent to 6.060
No price increase seen amid online-shop taxes
THE Bureau of Internal Revenue (BIR) assured online shoppers that the prices of products or services they purchase in e-marketplaces will not increase after the imposition of withholding taxes on online sellers and merchants.
Internal Revenue Commissioner Romeo D. Lumagui Jr. said online sellers, when setting up a business, should bear in mind their liability in income taxes.
“It should not actually result in an increase in prices [of products they sell online],” Lumagui said during the Senate hearing on the budget of the Department of Finance (DOF) last Tuesday.
The BIR started the imposition of a withholding tax system on the annual income of online sellers and merchants in e-marketplaces, such as online shopping, food delivery and booking accommodations, last July 15, 2024.
The BIR will automatically deduct 1 percent from earnings as withholding tax of those local online sellers who will fail to submit a sworn declaration of gross remittances that their total income exceeds P500,000 in the previous or current year to the BIR Revenue District Office (RDO). Online sellers and merchants with an annual income equal to or below P500,000 are exempted from the imposed 1 percent withholding tax provided that they will also submit a sworn declaration stamped and verified by their BIR RDO.
“This withholding tax is not a new tax. It’s just creditable withholding tax that is ultimately deductible from the final income tax they have to pay eventually at the end of the year,”
percent.
The debt papers’ average rate reached 6.022 percent from the previous week’s 6.023 percent. This is lower than the 6.104 percent PHP BVAL rate for 1-year T-bills.
Total bids for all tenors reached P53.4 billion, with the auction 2.7 times oversubscribed, according to the Treasury.
Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort attributed the rise in average auction yields to investors securing higher interest rates ahead of changes in monetary policy.
Ricafort noted that US Federal Reserve (Fed) Chairman Jerome H. Powell and most Fed officials affirmed a possible rate but by 0.99-basis point in the coming months during the Jackson’s Hole Economic Symposium over the weekend.
Meanwhile, Bangko Sentral ng Pilipinas (BSP) Governor and Chairman of the Monetary Board Eli M. Remolona Jr. said another 25-basis point rate cut will also be made in October or December 2024.
The national government’s gross domestic borrowings reached P1.303 trillion as of end-June this year, up by 27.12 percent from P1.025 trillion in the same period a year ago.
The state will borrow as much as P2.570 trillion this year, following a borrowing mix of 75:25, of which P1.923 trillion will be raised domestically while P646.084 billion will come from foreign sources.
Reine Juvierre Alberto
repo market as Treasury supply grows
trillion of reserves stashed at
the Fed—may have lending capacity of around $100 billion to $200 billion, an amount that would only keep repo rates in check for a couple of months with larger Treasury coupon auction settlements expected. Williams noted that domestic banks lent about $100 billion in December 2023 and the second quarter of this year as repo rates moved above interest on reserve balances, or IORB—currently at 5.40 percent. During both of those periods, volatility drove the Secured Overnight Financing Rate to an all-time high of 5.40 percent. Bloomberg News
Lumagui said.
The BIR chief added that online sellers and merchants should pay their taxes because it is unfair for the brick-and-mortar stores to comply, pay their taxes and register with the BIR.
“This is a way to at least get them inside the net to level the playing field,” Lumagui added.
VAT on DSPs
DURING the hearing, Finance Secretary Ralph G. Recto clarified that the value-added tax (VAT) on resident and nonresident digital service providers (DSPs) in the Philippines will not be absorbed by consumers. The bill, awaiting President Ferdinand R. Marcos Jr.’s approval, will slap DSPs with a 12-percent VAT. This would only be applicable to foreign service providers with more than P3 million in annual gross revenues, such as Netflix, Disney Plus and Spotify, among others. However, those with gross revenues not exceeding P3 million will be imposed a 3 percent consumption tax under the National Internal Revenue Code.
Recto said a 0.5-percent creditable income tax and 0.5-percent creditable consumption tax may be imposed at the start.
The Finance chief said Marcos will sign the bill within the next 30 days while the DOF and the BIR are preparing the implementing rules and regulations for the law.
The legislation is expected to usher in P10.867 billion in revenues for the government in 2025, P21.346 billion in 2026 and P22.811 billion in 2027 based on DOF’s estimates. Reine Juvierre Alberto
Ethics chasing social media
THE webinar organized by the Ethics Committee of the Financial Executives Institute of the Philippines last August 6 with our Resource Speaker Atty. Anthony Edsel Conrad F. Tupaz was not only informative but tackled a topic that has become urgent due to the fast growth and use of social media applications.
I realized that the regulations imposed by regulating agencies have now become more about fighting fires and reactive. Nonetheless, some regulations are proactive tools in preventing unethical use. The webinar was also very helpful in making the public aware of the pros—how to protect one’s privacy—and cons of the use of these applications.
Tupaz discussed both the negative side as well as the positive use of social media. His presentation also stirred up the need to address the problems before these become worse. With the speed technology and social media evolve, the solutions should also evolve and be enhanced.
Many have had bad experiences or witnessed the improper use of social media applications. It is not too late to make people aware of the problems and find ways to prevent if not cull the spread of cybercrimes, fake news and other unethical use of these applications.
To note, social media has several benefits, such as being an information source, a networking tool and build reputation. Some people, however, also misuse social media by spreading fake information, undertaking online harassment, using unauthorized data, breaching privacy, using AI to spread fake information or profile, and committing online fraud.
Tupaz also showed that based on the 2024 Digital Overview Report, Facebook and Tiktok are the top two social media applications being used in the Philippines.
Three years ago, an article in bigvillage.com titled “How Ethical are Social Media Companies” showed that Facebook and TikTok also ranked high in “net negative ethical” scores while LinkedIn, Pinterest
and
YouTube secured high “positive ethical” scores.
Facebook, nonetheless, has several benefits to the public. With its high number of users, it brought together individuals with shared interests from different locations in the world, resulting to a formation of diverse online communities. What is alarming is the increasing rate of hacking of personal profiles and information. Facebook has also been mired in the controversial use by Cambridge Analytica of user data, the proliferation of fake accounts and online harassment.
On the other hand, Tiktok has become popular because of its unique short-form video format, easy-touse editing tools and engaging content. But it is a shock for most of us when we see and listen to fake news. There are misinformation about popular figures. There is also the fear of China using this application to access user data especially those in the United States.
Tupaz has recommended that executives and business owners set company policies on the use of social media by its officers and employees. He emphasized that any social media activity even from employees’ accounts can reflect on the company and can impact the firm’s brand or image. Thus, everyone should be told to be careful on what to post, share, comment or even like and evaluate the impact the action will have on the reputation of the organization they are working for.
FinEx FrEE
EnTErPriSE
Wilma inventor-Miranda
This August 27, 2024, photo shows President Ferdinand R. Marcos Jr. (left) as he received commemorative coins from Bangko sentral ng Pilipinas Governor Eli M. Remolona Jr. CREDIT: Bangko SEnTR al ng PIlIPInaS
What leaders can learn from Philippine heroes
CEBU PACIFIC AGAIN HAIlED As BEsT EMPlOYEr Br AND AT lINKEDIN TAlENT AWArDs
THE Philippines’ leading carrier Cebu Pacific marked another major accomplishment as it bagged the Best Employer Brand award for the second consecutive year at the LinkedIn Talent Awards 2024, demonstrating the airline’s continuous efforts to engage with talents in a meaningful way.
CEB was hailed as the Best Employer Brand among Philippine companies with 1,000 to 5,000 employees on LinkedIn. Chrissie Perfecto, CEB Director for Talent Management, received the honor on behalf of the company in a ceremony held on August 14, 2024.
“We are honored to receive this award from LinkedIn for the second year in a row. Moving forward, we will stay committed to meaningfully engaging with our current employees and future talents, empowering them to make a valuable impact in the aviation industry,” said Felix Dan Lopez, CEB chief human resources officer.
The LinkedIn Talent Awards are data-driven recognition awarded by LinkedIn to companies based on their use of LinkedIn Talent Solutions and activities on the LinkedIn platform. CEB was also a finalist for the Talent Insights Pioneer category—an award that recognizes companies who have utilized LinkedIn Talent Insights to make informed talent decisions with real-time insights.
Over the years, the carrier has continuously enhanced its employee engagement initiatives by organizing activities that aim to strengthen staff camaraderie and activating LinkedIn Learning to promote upskilling and self-paced learning. Just recently, CEB was able to expand its pool of LinkedIn Learning accounts by making more licenses accessible to more than 4,000 CEB employees.
The airline has also sought to make the workplace even more inclusive through equal employment opportunities and programs that celebrate everyone’s individuality.
As a testament to these efforts, CEB earned its Great Place to Work certification this year following a positive evaluation of its employee experiences in key areas such as fairness, respect and camaraderie, among others. CEB is the only airline in Southeast Asia that has achieved such a distinction.
OUR country has a rich history of heroism, shown by individuals who stood up against oppression and fought for our country’s freedom. These heroes demonstrate timeless lessons in leadership that are as relevant today as they were in the past. Today’s leaders can learn from the stories of these national heroes who provide valuable insights into what it means to lead with integrity, courage and vision.
Jose Rizal, our national hero, is perhaps the most prominent example of how vision can spark change. Rizal’s novels Noli Me Tángere and El Filibusterismo exposed the injustices of Spanish rule and inspired colonized Filipinos to seek reform and, eventually, independence. Rizal’s life demonstrates the importance of having a clear vision as a tool for transformation. When leaders communicate a clear vision, they guide and empower their teams to look at the status quo, evaluate what can be improved, and then look for better ways of working. A clear vision helps people understand where they need to go and creates the drive to enhance their processes and tools in order to get there.
Andres Bonifacio, known as the “Father of the Philippine Revolution,” led the resistance against Spanish rule. Despite lacking a formal education, Bonifacio’s courage and determination emboldened Filipinos to fight for their freedom. Bonifacio’s legacy emphasizes the importance of courage in leadership. Leaders often face difficult decisions and challenging circumstances but Bonifacio’s example shows that taking decisive action, even in the midst of conflicting priorities, is crucial for effecting change. Leadership requires not just vision but also the courage to act on that vision, even in the face of numerous challenges. If leaders really believe in their vision, they will do whatever they can to achieve it.
Emilio Aguinaldo, the first President of the Philippines, also played a critical role in the country’s fight for independence. Aguinaldo’s leadership was marked by strategic alliances and efforts to unify the different factions within the revolutionary movement. Aguinaldo’s leadership illustrates the significance of strategic thinking and the ability to
a common goal. When leaders look out only for themselves, they do so at the cost of their team and great personal loss.
Gabriela Silang also became a symbol of resistance after taking up the fight against Spanish colonizers after they assassinated her husband, Diego Silang. Despite facing personal loss and the challenges of leading during those challenging times, Gabriela’s resilience and determination kept the revolutionary spirit alive. Leaders will inevitably face crises and setbacks, but how they respond to these challenges defines their effectiveness in leading their team. Gabriela persevered and continued leading even in the face of adversity which demonstrates the required strength and resilience to guide others through difficult times.
Apolinario Mabini, often referred to as the “Brains of the Revolution,” was an important personality in the Philippines struggle for independence. Despite being paralyzed, Mabini’s unwavering commitment to the cause and his ethical leadership were instrumental in shaping our nation. He was known for his integrity and advocacy of moral governance and the rule of law. His life shows the importance of integrity in leadership and that true leadership is not just about achieving goals, but doing so using ethical standards and principles. Leaders must remain
Emerging construction firm bets big on OFWs amid infra boom
EXPERTS have hailed the Philippines as among the fastest-growing construction markets. Research by business management consultant group YCP Solidiance indicates that the local construction industry is expected to grow by another 9.6 percent until 2025 at a value of $8.4 billion from the projected increase of 21.2 percent between 2020 and 2023. The robust growth of the local construction industry also drives higher demand for manpower, and many overseas Filipino workers or OFWs, with their experience in construction projects and technologies, can help fill this gap. However, returning home can be quite a difficult decision for migrant workers.
In an International Organization for Migration (IOM) report, 82.5 percent of OFWs cited securing employment or income-generating activities as their biggest challenge upon returning in 2020. While there are government efforts to reintegrate them into the local workforce, their options are often limited and do not align with their competencies. Reytech Construction & Development Corp. (Reytech, www.reytech.ph) is no stranger to the plight of the OFWs, and it’s now emerging as a major supporter of returning OFWs amid a thriving local construction industry. The firm was proudly established in 1995 by its founder and chairman Hector S. Reyes, a former migrant worker himself. Working his way up from a mechanical fitter to supervisor, his experience in the Middle East—a top destination for Filipinos in construction—equipped him with the technological skills, management techniques, and commitment to project success that define Reytech today.
Helping migrant workers reintegrate back into the country is a mission Reyes is taking seriously, given that many still choose to take risks and face the struggles of being an OFW, such as unfair contracts, exploitative labor conditions, and various negative impact impacts on the Filipino family.
Given his experience abroad and seeing how his fellow OFWs work, Reyes is advocating for these highly skilled individuals and actively seeking them out for employment opportunities here at home.
“If they were given a chance to find a good company, I know they would rather stay and work here in the Philippines instead of tolerating unfavorable contracts and labor conditions, all while being away from family,” he says. Reyes hopes to break the cycle and give back to the community by dedicating a significant portion of Reytech’s workforce to these talented and skilled individuals with expertise in relevant fields
by providing refuge, medical care, and support to revolutionaries. Despite her advanced age, she became a mother figure to many Filipino fighters, earning her the title “Mother of the Katipunan.” Her legacy highlights the importance of compassionate leadership. Leaders who show empathy and care for their teams inspire loyalty and dedication. Providing support and creating an environment where people feel valued and safe can significantly impact morale and effectiveness. As Theodore Roosevelt puts it, “No one cares how much you know, until they know how much you care.” Some people think that compassionate leadership is a sign of weakness but in reality, it is a powerful tool for building a strong, collaborative, and harmonious team. When a team knows their leader has their best interest at heart, they do more for the team. Our heroes offer more than just historical inspiration. They also provide lasting lessons in leadership that are applicable in any context. From Rizal’s vision and Bonifacio’s courage to Mabini’s integrity and Tandang Sora’s compassion, these heroes show the qualities that define effective leadership. Modern leaders can draw from these examples to lead with purpose, resilience, and a deep commitment to the well-being of their teams. In a world that continues to face challenges, these lessons from our heroes remind us that true leadership is more than just about power or position—it is about making a meaningful impact through integrity, courage and compassion. n
such as mechanical, electrical, civil, or software engineering—and most of them were referred by current employees. He adds that leveraging their unique skill sets
Agri Pacific Corp. for Rebisco. The Batangas-based firm has now also completed over a hundred projects with a 100 percent completion rate and a diverse portfolio of industrial and commercial projects for companies like Landers Superstore, BB.Q Chicken, Popeyes Louisiana Kitchen Philippines, Kuya J Restaurant,
THE rEYTECH TEAM Gab Sy (from left), senior project manager; Ariel Guerra, senior project manager; Hector Reyes, founder and CEO; Raymund dela Cruz, operations manager; and Jay Pantangco, commercial director.
LANDERS Superstore in Nuvali is one of Reytech’s large commercial projects.
FROM left: CEB director for talent management Chrissie Perfecto, Aira Dizon of CEB employer branding team, IT and Business Process Association of the Philippines president and CEO Jack Madrid, and KC Palermo of CEB learning and development team. PHOTO FrOM lINKEDIN TAlENT AWArDs
BDO is PHL’s Best Bank for the 13th Time, bags multiple awards
BDO Unibank, Inc.
(BDO) was recognized as the Best Bank in the Philippines at the 18th Annual Alpha Southeast Asia Best Financial Institution Awards 2024, marking its impressive 13th win. This prestigious accolade underscores BDO’s continuing commitment to service excellence and enhancing customer experience across its wide range of financial products and services.
BDO also received the Best Cash Management Bank in the Philippines award for the 9th consecutive year, showcasing the Bank’s consistency in providing effective solutions to help businesses manage their cash flow requirements, liquidity, and financial resources.
BDO Private Bank was likewise honored as the Best Wealth Management Bank in the Philippines, for 17 straight years at the Annual Best Private Wealth Awards 2024, reflecting its consistency in delivering sophisticated wealth management solutions to its clients.
BDO Capital & Investment Corporation (BDO Capital) bagged the Best Investment Bank in the Philippines award for the 13th time. BDO Capital
IN the photo are, from left, Siddiq Bazarwala, CEO of Alpha Southeast Asia, awarded Suzette Ching, First Vice President and Head of Wealth of BDO Singapore; and Sonny Marpuri, First Vice President and Head of Accounting & HR of BDO Singapore.
also secured the Best Bond House in the country for the 11th year, in recognition of its innovative strategies and customer-centric approach in offering optimal solutions to achieve business goals.
At the 14th Annual Treasury & FX Awards 2024, BDO was honored with dual awards for Best FX Bank for Structured Hedging Solutions and Proprietary Trading Ideas, alongside Best FX Bank for Retail Clients. These recognitions highlight BDO’s expertise in delivering tailored financial solutions and reliable foreign exchange services to meet clients’ diverse needs.
BDO also clinched the Best Online & Mobile Platform (Asset Manager) and Best Fund Manager for Pension Mandates
Tand Private Retirement Schemes at the 15th Annual Fund Management Awards 2024. These achievements signify BDO’s dedication in providing cutting-edge investment solutions through advanced digital platforms and expert portfolio management.
“I am immensely proud of our team. Their passion, hard work and consistency in the pursuit of service excellence is truly commendable. These awards are for them.” said Nestor V. Tan, President and CEO of BDO Unibank. These accolades complement BDO’s extensive list of international and local recognitions from esteemed publications and organizations, further solidifying its position as a leader in the Philippine banking industry.
REFORMING MINDSETS TO PROMOTE SUSTAINABLE PRACTICES. Through the property-wide I LOVE Earth (ILE) sustainability initiative, Newport World Resorts, the country’s pioneering integrated resort champions Reform, Reduce, Recycle, Repurpose programs to minimize the environmental impact of its operations as a premier hospitality and tourism development. By reforming its business operations to promote a circular economy, the property has taken steps to reduce waste. These include switching to bulk amenities and glass water bottles in hotel rooms, shifting to biodegradable packaging, cutting down on food waste, and forging meaningful partnerships to redirect waste from going to landfills. These projects combined has resulted in eliminating over 270,000 plastic bottles from operations; recycling of 98,000 kgs of used oil, 127 metric tons of electronic waste, and 14 metric tons of old batteries; and developing inhouse projects including on-site composting and a centralized ORCA aerobic food waste digester. Through ILE, the entire property has earned a Silver Certification under EarthCheck after a rigorous process of measuring and recording key sustainability indicators by its various programs. Newport World Resorts is the first and currently the only integrated resort in the country bestowed with the coveted certification.
PDRF distribute emergency communications equipment to select LGUs
HE Philippine Disaster Resilience Foundation (PDRF), with the support of the Australian Government, recently turned over emergency communications equipment to select cities and barangays in Catanduanes, Agusan del Norte, and Eastern Samar to support their communications during disasters.
The Resilient Emergency Communications for Enhanced Disaster Response (REACHED) Project distributed a total of 206 essential communications equipment such as Starlink, radio systems, portable generator sets, power stations, access points, satellite phones and drones to 15 disaster risk reduction and management offices and select barangays in Virac, Catanduanes, Butuan, Agusan del Norte, and Borongan, Samar. The project will also be providing these offices with Smart Communications Inc.’s Ligtas Kits to enhance disaster response capabilities.
Australian Ambassador Hae Kyong Yu attended the ceremonial turnover with representatives from the Australian Government, Office of Civil Defense, Department of Information and Communications Technology, Globe Telecoms, PLDT-Smart, and the World Food Programme.
“I am so delighted that the Australian Government could be a part of this really wonderful partnership. To help you in some way to deal with disasters that may
come your way. In a way that is humane, kind, and caring. In a way where we can try and protect as many human beings as possible during crisis,” said Ambassador Yu.
Mayors of the recipient cities also expressed their gratitude to the Australian government and PDRF and share the project’s impact to their cities and constituents.
“Project REACHED has a long-term effect and is a game-changer for local government units. Its system is doable and could be replicated in other towns. I believe that other LGUs will follow through in adopting this kind of technology,” said Borongan City Mayor Jose Ivan Agda.
“At PDRF, we believe that the private
sector has a role to play before, during, and after a crisis. It is our hope that Project REACHED and the provision of the communication equipment between these cities will lead to a safer life for the people who live there and their children,” said PDRF President Butch Meily.
Project REACHED is a two-year project that offers a solution to the recurring problem of establishing communications during and after a major disaster. The project aims to provide the necessary primary and secondary communications equipment to target barangays, municipalities, cities, and provinces, including the skills to use these to support coordination and response operations.
Filinvest showcases investment opportunities in New Clark City at Taipei Investment Forum
ADISTINGUISHED gathering of industry leaders, investors, and government officials took place at the National Chengchi University on July 30, 2024 for the FIP-NCC Investment Forum.
This significant event, organized by Filinvest Land, Inc. (FLI), put the spotlight on New Clark City and the Filinvest Innovation Park (FIP-NCC) as premier investment destinations for Taiwanese enterprises.
The forum featured esteemed speakers who shared invaluable insights into the Philippines’ investment landscape. Present during the event were Silvestre H. Bello III, Chairman and Resident Representative of the Manila Economic and Cultural Office, who delivered the keynote address; Terry Lin, Investment Officer of the Philippine Trade and Investment Center in Taipei, who talked about the rich array of investment opportunities available in the Philippines, and Engr. Joshua M. Bingcang, BCDA President and CEO, who emphasized its unwavering commitment to developing the area.
Filinvest Land Inc. President and CEO, Tristan Las Marias, articulated the company’s vision to develop communities and workspaces that fuel the economy and are dedicated to sustainable development.
In a post-forum interview, Las Marias emphasized the synergy between economic progress and environmental stewardship, specifically highlighting the Filinvest New Clark City and the Filinvest Innovation Park as exemplars of this vision. He stated, “These projects demonstrate our commitment to creating spaces that support both economic vitality and environmental responsibility, setting a new standard for sustainable development.”
Meanwhile, Filinvest Land’s SVP, Francis Ceballos, offered detailed insights into Filinvest New Clark City and Filinvest Innovation Park, highlighting the park’s strategic location, cutting-edge infrastructure, and attractive investment packages. PEZA Group Manager Rowena Torres-Naguit presented the array of incentives available to foreign businesses operating in the Philippines.
The event garnered substantial interest
from attendees, many of whom expressed keen interest in the investment prospects in New Clark City and FIP-NCC.
In addition to the forum, the Filinvest Land-led delegation engaged in several highlevel meetings and visits. These included a meeting with the Taipei City Government and visits to key corporations. The delegation also subsequently participated in a study tour of the Kaohsiung Linhai Industrial Park to learn more about the park’s best practices. This initiative strengthened ties with Taiwanese business leaders and underscored the commitment of Filinvest Land Inc. to fostering an environment conducive to international collaboration and investment. FIP-NCC is a 120-hectare industrial development featuring prime industrial lots and Grade-A ready-built factories (RBFs) for lease to modern businesses engaged in light to medium manufacturing, logistics, warehousing, e-commerce, data centers, electronics, and more. It forms part of the 288-hectare smart, resilient, mixed-use metropolis Filinvest New Clark City, a joint venture between FLI and
Abaca Baking Company-Baseline In
ABACA Baking Company-Baseline Center is delighted to announce the re-opening
BCDA.
IN the photo from left are Francis Ceballos (Senior Vice President and Business Unit Head, Filinvest Land Inc.), Steve Chien (Regional Controlling Principal, Keller Williams Philippines), Rowena Naguit (Acting Group Manager, Philippine Economic Zone Authority), Tristan Las Marias (President and CEO, Filinvest Land Inc.), Joshua Bingcang (President and CEO, Bases Conversion and Development Authority), Andrew Gotianun III (Member, Board of Directors, Filinvest Land Inc.), Terry Lin (Investment Officer, Philippine Trade and Investment Center - Taipei)
Australian govt,
BUTUAN Mayor Ronnie Vicente Lagnada and officials of the Provincial Government of Butuan with Australian Ambassador Hae Kyong Yu, PDRF President Butch Meily, and representatives from Australian Government, PDRF, and Project REACHED partners during the equipment turnover in Butuan, Agusan del Norte
PHINMA ProPertIes INtroduces P12B towNsHIP Project IN BAcolod cIty
By Rizal Raoul S. Reyes @brownindio
PHINMA Property Holdings Corporation (PHINMA Properties), a member of the 100 percent-owned Filipino conglomerate PHINMA Corp., continues to prove it is a strong partner in nation building.
Raphael Felix, President and CEO of PHINMA Properties, told the BusinessMirror in a one-onone interview that as early as 2013 the has been active in developing projects outside the National Capital Region (NCR).
“PHINMA was there as early as 2013. Prior to that, we were actually a Metro Manila player but we wanted to expand on the regions already. A lot of our projects are already outside the NCR. We foresaw in 2013 that some point growth in the region would overtake that of Metro Manila,” Felix said.
“Perhaps, more than the growth of regions, it was our desire to go there. PHINMA leadership advocates nation building. You don’t build a nation by staying in Metro Manila. The bonus is that all these regions are growing fast,” Felix added.
Bullish on Bacolod T HE launching of Saludad Township, in the City of Bacolod proves PHINMA Properties is committed to develop cities outside the NCR.
PHINMA Properties together with Jacinto, Echaus, Puentevella and Puentevella) Property Corp., recently placed a time-capsule during the groundbreaking ceremony, commemorating the culmination of hard-work and efforts of their partnership.
“We are happy to be part of Bacolod’s journey to becoming a super city through Saludad. The residential developments, leisure amenities, commercial spaces, and other features of the township will undeniably attract more residents as well as opportunities for growth in the city,” said Felix. “We are committed to ensure that our
projects add value to the regions we operate in.”
The first phase of the project began this year and will be completed by December 2025 to be followed by the start of the second phase in January 2026 that will be completed by 2028. According to Paolo V. Reyes, Vice President and Chief Township Officer of PHINMA Properties, the entire project build up is projected to be until 2039.
“What you will visibly see right away would be the first phase at the southern portion of the property that includes the hotel development and commercial lots as well as our mid-rise buildings,” he added.
With an estimated capital expenditure of P12 billion for Saludad, it is steadfast in pursuing expansion in emerging cities and
hop inn aims to have 14 hotels in phl by 2029
By Roderick L. Abad
FOLLOWING its aggressive 2024 expansion with the opening of three new Hop Inn Hotels in the country, Erawan Philippines (Ermita) Inc. will slow down in branching out nationwide, as it only aims to have a total of 14 hotels in the next five years.
The budget hotel operator just opened it’s 10th branch in Davao a couple of weeks ago. Prior to this, Hop Inn opened along SM North Edsa in Quezon City last April and Iloilo in June.
“The focus right now is for us is to remain in key secondary cities in the Philippines where we don’t yet have our presence. For example, Bacolod, Cagayan de Oro, General Santos, [and] Angeles [in] Pampanga,” Hop Inn Senior Vice President of International Operations Kirill Mokronosov told the B usiness M irror on the sidelines of their ceremonial partnership signing with AirAsia Philippines for their “Hop Inn 10 Hotels: Stay and Fly Promo” that was held at Hop Inn Alabang in Muntinlupa last August 19.
“Also, we‘re looking at some additional properties in Metro Manila. I think within next year, probably, we will announce new hotels in the pipeline located in those key areas,” he added.
Established in 2014, Hop Inn is a growing network of more than 70 budget hotels across Thailand, the Philippines, and Japan. The brand is renowned for its value for over money and consistent quality accommodations, centrally-located in key business districts across three countries. Its recent expansion to Japan forms part of Erawan Hop Inn Company Ltd.’s strategic
P2.5 billion, the brand has been welcoming guests to seven Hop Inn hotels in Metro Manila and three in key cities of Cebu, Iloilo, and the newly-opened Davao. To date, it has 1,780 keys across its 10 branches. According to Mokronosov, the Philippines is “performing very strong.” In fact, even during the pandemic, all of their hotels here performed financially positive.
“And now, since the recovery happened in 2021, all of our hotels now operate with over 80 to 85 percent occupancy. So it’s quite strong across all destinations. In general, we’ve been able to also grow the rates year-on-year now since the pandemic was declared finished in 2022,” he said, while attributing their consistent good performance to the resilient domestic market.
“Filipinos are traveling domestically quite a lot. So that’s kind of one of our backbones. But also because of this kind of tourism potential—the international market is coming here, especially tourists from the United States, Korea, Japan and China. The Philippines has been quite
attractive for them. So we do get a share of the leisure international as well,” he added.
For the top executive, they hope the three newly-opened hotels this year to also drive their occupancy rates closer to the first seven hotels.
“We’re quite confident within the first three months of their operations that they can achieve an occupancy level of at least 80 percent. Actually, North Edsa is already achieving that level in its fourth month of operations. So our next target is for Iloilo and Davao to also achieve that, which is why the partnership with AirAsia was quite a good time for us,” he said.
Running from September 1, 2024 to January 31, 2025, the “Hop Inn 10 Hotels: Stay and Fly Promo” will reward its loyal customers with a chance to fly for free to Japan and their dream destinations in the Philippines via AirAsia.
“It’s quite a good synergy between the two brands together, since we kind of operate in the same market segment and also in the same destinations, both Thailand and Japan,” Mokronosov said.
regions.
“We chose to go to Bacolod because we think we can make a difference in the urbanization of this city,” said Felix. “Our aim is to really make lives better and become a solution provider by giving people a dignified life that they so much deserve.”
Beyond offering residential homes, PHINMA Properties and its partner, JEPP (Jacinto, Echaus, Puentevella and Puentevella) Property Corp., have an economic vision for Saludad. As a mixeduse township, it is poised to be a catalyst for local economic development by creating commercial spaces and a retail center that attract investors and entrepreneurs, generating new jobs and opportunities, and cultivating an environment where businesses can flourish. With this, a new central busi -
CLARK in Pampanga has long been known for its rich history. Now, the former airbase is transforming into a dynamic business hub.
Recent developments, such as multinational companies expanding in Clark, are set to further fuel the economic boom in the region. The national government also renewed its commitment to bolster Clark’s tourism industry by building a 35,000-seater arena, positioning it as a prime destination for major international events and concerts.
Aside from upscale establishments and a luxurious escape at idyllic places such as the Filinvest Mimosa Plus, Clark is the perfect destination for both business and leisurely pursuits.
Because of its proximity to numerous attractions including resort casinos, parks, and restaurants, settling in at Filinvest Mimosa Plus allows residents, travelers, and even golfing enthusiasts to indulge in a lavish lifestyle anytime at the world-class Mimosa Plus Golf Course.
With exclusive amenities and a luxurious residence designed for relaxation and wellbeing, Filinvest Mimosa Plus caters to those seeking a sophisticated escape.
Nestled within the fully integrated leisure community of Filinvest Mimosa Plus is Golf Ridge Private Estate, Central Luzon’s premium residential golf community by high-end real estate developer Filigree. It serves as the epitome of the ultimate country club living in Clark, Pampanga.
Filigree recently opened Golf Ridge’s actual 1-Bedroom Classic Unit, which exemplifies the comfort and elegance that residents can expect at the estate. Thoughtfully designed to provide a harmonious blend of sophistication and functionality, the unit offers a tranquil living environment that is both exclusive and inviting.
Lush landscapes and captivating views also surround the unit, offering a glimpse
ness district can also potentially emerge within Bacolod through the township.
“Our property has the best location so we found ourselves in conversations with several developers. PHINMA Properties offered a relationship, not a transaction. They patiently listened to our vision and our hopes. PHINMA properties understood us,” said Atty. Reggie Jacinto-Barrientos of JEPP Property Corp.
As a mixed-use township, PHINMA Properties and JEPP envision the 21 hectare Saludad as a catalyst for local economic development by creating commercial spaces and a retail center that attract investors and entrepreneurs, generating new jobs and opportunities, and cultivating an environment where businesses can flourish.
“Our property has the best location so we found ourselves in conversations with several developers. PHINMA Properties offered a relationship, not a transaction.
They patiently listened to our vision and our hopes. PHINMA properties understood us,” said Atty. Reggie Jacinto-Barrientos of JEPP Property Corp. Saludad, which means “to say hello” or “to greet,” is designed to capture and preserve the essence of Bacolod living while incorporating modern conveniences and sustainable practices into its neighborhoods and top-notch amenities. The township is also backdropped by the panoramic view of Negros Occidental’s scenic mountains: Mt. Silay, Mt. Kanlaon and Mt. Mandalagan, integrating the region’s natural beauty into its development and connecting the residents to its picturesque landscapes.
“What we really try to come up with here is a master plan that is very organic. It’s very natural and intuitive. It creates a deeper sense of connection and micro-identity of Bacolod,” said Arch. Iggy Labiano of Royal Pineda, the master planner of Saludad.
into the serene lifestyle that awaits. The unit provides a firsthand experience of the impeccable design, stunning scenery, and wealth of exclusive amenities that define Golf Ridge Private Estate.
“Our 1-Bedroom Classic Unit at Golf Ridge Private Estate is a testament to the high standards of luxury and comfort that Filigree is known for,” said Daphne Sanchez, Filigree head. “We aim to provide our residents with the ultimate country club lifestyle, a living experience that is both refined and relaxing, with all the modern amenities they could desire.”
The Mimosa Plus Golf Course is just a stone’s throw away from Golf Ridge Private Estate. Enjoy prime tee times, seamless access to the course’s world-class facilities and the tranquility of being secluded in nature.
In addition, Golf Ridge’s proximity to Clark International Airport enhances its
Raphael Felix, president and CeO of phiNMa pro
an artist’s rendering of the Saludad township
G RO u N d
MON y OF Saludad From left: Jose Mari del Rosario, president & CeO for phiNM a hospitality inc.; Roberto M. l aviña, phiNM a properties Chairman; Ms. Carisse echaus, Jepp property Corp; arch. Noli puentevella, Jepp property Corp;
Ernie and co. ready to do battle in Paris
Lessons learned from Paris issues, move on to LA28
By Josef Ramos
OLF’S Valeriano “Bones” Floro II
Gtook the hot seat in Tuesday’s Senate Sports Committee hearing but eventually mended ways with Olympian Dotte Ardina and her mom Gina.
Weightlifting’s Monico Puentevella tried to maneuver accusations against the Philippine Olympic Committee (POC) for what he called as meddling into national sports association (NSA) affairs when POC president Abraham “Bambol” Tolentino decided on bringing Erleen Ando, Vanessa Sarno and John Febuar Ceniza’s personal coaches to the Paris Olympics.
Tolentino, in response to Puentevella, stressed to committee chairman Senator Christopher “Bong” Go that he was after the weightlifters’ welfare and showed a letter from the athletes indicating their request for coaches Richard Pep Agosto and Christopher Bureros to attend to them in Paris.
“We didn’t replace any coach, in fact, we just added two,” Tolentino said.
POC secretary-general Atty. Wharton Chan put on record his recommendation for the PSC to increase the monthly allowances of Olympians and earned an optimistic response from Philippine Sports Commission (PSC) executive director Paulo Tatad.
“We’ll check,” said Tatad on elite athletes’ allowances ranging from P45,000 to P50,000 a month depending on their achievements in international competitions.
All’s well at the Senate as Philippine sports continues to bask in the two gold medals Carlos Yulo won in gymnastic and the bronze medals boxers Nesthy Petecio and Aira Villegas got in Paris.
“All shortcomings that happened in the Paris 2024 Olympics must not happen again four years from now in preparation for the next 2028 Los Angeles Olympic Games,” Go said. “We have four years before the LA Olympics and let’s prepare for the other international competitions like the Southeast Asian Games and Asian Games.”
“We, the government, along with the help of the private sector, must work hand in hand for the advancement of our athletes,” Go said. “Let us ensure that their needs and welfare are well taken care of.”
Ardina attended online from the US but her mother Gina Ardina was physically present and joined the grilling of Floro, secretary general of the National Golf Association of the Philippines who’s being blamed for Ardina and Bianca Pagdanganan’s uniform issue.
“You picked us up at the hotel and brought us to the venue, same routing each day,” Gina Ardina said.
To this, Floro apologized and extended his hand in reconciliation. What he got was a hug from the elder Ardina. Tolentino said that Paris didn’t only bring glory to the country, but provided worthy lessons.
“We learned from the experience, and this will not happen again, even the POC has learned from this experience,” Tolentino said. “We just must move on and Bones Floro has accepted everything. He apologized. We can also add more templates if needed.” Interestingly, Puentevella was accompanied in the hearing by squash federation head Robert Bachmann, a known critic of Tolentino.
PSC chairman Richard Bachmann was scheduled to fly to Paris for the Paralympics and didn’t attend the hearing.
ALL six national athletes and four coaches will be dressed to the nines on Wednesday night as they take part in the what promises to be a spectacular outdoor opening ceremony of the Paris 17th Paralympic Games at the Place dela Concorde to ChampsÉlysées in Paris, France. But once para swimmer Ernie Ga wilan and para archer Agustina Bantiloc and teammates Jerrold Mangliwan, Cendy Asusano, Angel Mae Otom and Allain Ganapin have finished taking part in the festive rites in their ethnic-inspired uniforms, their focus will be back to the task at hand.
Joining them in the opening ceremony for the first time are coaches Gershon Bautista, Jonathan Josol, Berson Buen and Brian Ong of taekwondo, archery, track and field and swimming, respectively, in the trip supported by the Philippine Sports Commission.
“To ensure that the spotlight is firmly on the achievements of the Paralympic athletes, the values that they embody and the emotions that they inspire in us, Paris 2024 wanted to offer them a groundbreaking showcase by organizing the first Paralympic Games Opening Ceremony outside the confines of a stadium,” Paris 2024 president Tony Estanguet said in a statement.
The opening ceremony promises to be as colorful—albeit perhaps less controversial—as the Olympics opening ceremony also conceptualized by artistic director Thomas Jolly, regarded as the “Peter Pan” of French theater. To reach the pinnacle of the quadrennial global sports showcase for physically-challenged athletes is no
joke, and the country’s “Sensational Six” are just among a select 4,350 athletes from 168 countries who will be vying for victory within the glamorous French capital in the next two weeks.
They will carry the hopes and prayers of not only Filipino fans but also of an often overlooked and marginalized sector of Philippine society that strives to show all sundry that they can be just as productive and as successful as their able-bodied counterparts.
“We pray that the success of our Olympians in Paris just two weeks ago will rub off and inspire our athletes to excel more than ever before,” Philippine Paralympic Committee president Mike Barredo said in a statement from Manila.
“We would like to thank PSC Chairman Dickie Bachmann for fully supporting our Paralympians, allowing them extra time in France to acclimatize and adjust so they can do better and hold their own with the best in their respective sports,” Barredo said.
Just like he rooted for the country’s Paris Olympians, Bachmann left for Paris Tuesday to witness and cheer for the athletes.
“Our para athletes have had to strive and work harder so that they can show to everyone that they are just dedicated and passionate about their sport,” Bachmann said. “We admire them for overcoming their handicaps to prove that they belong among the elite in the Paralympic Games.”
First to see action after Wednesday night’s opening ceremony gala is Bantiloc, who will compete in the women’s compound event at the shooting ran ge in Les Invalides, a complex of buildings that pays homage to the colorful military history of France.
Guiao estimates PSC could get P25B from PAGCOR following Court ruling
FORMER Pampanga representative Joseller “Yeng” Guiao estimates that the Philippine Sports Commission (PSC) could receive as much as P25 billion in arrears if the Philippine Amusement and Gaming Corp. (PAGCOR) heeds a Supreme Court decision to remit miscalculated funds for the government sports agency. That’s a lot of money, a lot that a dozen or more Hidilyn Diaz-Naranjo or Carlos Yulo could be in the production line for Olympic gold medals in at least a generation. But that remains ambitious at the moment, despite the Court having banged the gavel on how much shares the PSC should get—and should have gotten—from 1993, three years after the sports agency was legally established.
“We don’t want this to me a mere moral victory, legallt and morally we’re standing on solid ground, but the bulk of the work is still there,” Guiao told the Philippine Sportswriters Association (PSA) Forum on Tuesday at the PSC Conference Hall where he was accompanied by his lawyer, Atty. Avelino “Jun” Guzman Jr.
Guiao is credited for having petitioned the Supreme Court to favor on the PSC’s 5 percent share from the net incole from the government casinos, instead of the 2.5 percent from gross the sports agency has been receiving from PAGCOR for three decades.
“We don’t want this decision to become a paper judgement, what’s needed is for the funds to reach the PSC,” said Guzman in the weekly forum
a while back as NGAP executive director after a 47-year stint with the
Pickleball problem hounds
presented by San Miguel Corp., PSC, Philippine Olympic Committee, Milo, Smart/PLDT and the country’s 24/7 sports app ArenaPlus. The Supreme Court order also sided with Guiao’s petition for the PSC to receive 30 percent of the charity fund of sweepstakes and lottery draw of the Philippine Charity Sweepstakes Office from 2006 onwards.
country’s ruling body in golf.
US tennis with upstart sport gaining popularity
NEW YORK—Does American tennis have a pickleball problem?
Even as the US Open opened this week with more than a million fans expected for the sport’s biggest showcase the game’s leaders are being forced to confront a devastating fact—the nation’s fastest-growing racket sport (or sport of any kind) is not tennis but pickleball, which has seen participation boom 223% in the past three years.
“Quite frankly, it’s obnoxious to hear that pickleball noise,” US Tennis Association (USTA) President Dr. Brian Hainline grumbled at a recent state-of-the-game news conference, bemoaning the distinctive pock, pock, pock of pickleball points.
Another day at the office for Fajardo
said Fajardo, who hopes to bring San Miguel Beer back to the winner’s circle after falling short to Meralco in last season’s Philippine Cup Finals. The gentle giant averaged 25.0 points on 71-percent shooting on top of 17.0 rebounds, 4.5 assists, 1.5 steals and 2.0 blocks in two games, covering the period of August 18 to 25, that saw San Miguel defeat Phoenix and Blackwater for share of the lead in Group B. He opened the campaign in the big league with 37 points, 24 rebounds, four assists, two steals and two blocks as the Beermen overcame the Fuel Masters, 111-107, on August 21 at Smart Araneta Coliseum.
Against Blackwater four days later, Fajardo tallied 13 points, 10 rebounds, five assists and two blocks, but played more of a supporting role with import Jordan Adams firing 50 as San Miguel overcame a first-half deficit and won 128-108.
Pickleball, an easy-to-play mix of tennis and ping pong using paddles and a wiffleball, has quickly soared from nearly nothing to 13.6 million US players in just a few years, leading tennis purists to fear a day when it could surpass tennis’ 23.8 million players. And most troubling is that pickleball’s rise has often come at the expense of thousands of tennis courts encroached upon or even replaced by smaller pickleball courts.
The face-to-face experience with the Chief Executive was not only an encounter to remember for the quartet but, more importantly, it became a pocketful of thrill as each one
a cool one million pesos. The four, together with Bianca Pagdanganan, were the last to receive their cash bonuses from the President, who gave a million each to the 19 of the 22-person delegation to Paris.
Carlos Yulo and boxers Nesthy Petecio and Aira Villegas got more—deservingly, of course—for having hauled home precious Olympic medals.
his sensational two
“When you see an explosion of a sport and it starts potentially eroding into your sport, then, yes, you’re concerned,” Hainline said in an interview with The Associated Press. “That erosion has come in our infrastructure.... A lot of pickleball advocates just came in and said, ‘We need these tennis courts.’ It was a great, organic grassroots movement but it was a little anti-tennis.” AP
ERNIE GAWILAN, Agustina Bantiloc, Jerrold Mangliwan, Cendy Asusano, Angel Mae Otom and Allain Ganapin are ready for opening night and the Paris Paralympics action.
A MAN jumps to return the ball as people practice pickleball at CityPickle at Central Park’s Wollman Rink in New York. AP
IT’S all hands on deck each time San Miguel Beer’s June Mar Fajardo gets the ball as Blackwater’s Troy Rosario and Bradwyn Guinto harass the eight-time Most Valuable Player during their previous game.
FORMER representative Joseller “Yeng” Guiao leaves a legacy for Philippine sports.
