BusinessMirror October 30, 2024

www.businessmirror.com.ph

‘GREY LIST EXIT HINGES ON BANKS, F.I. REFORMS’

By Cai U. Ordinario @caiordinario

ESPITE substantial com -

Dpletion of its anti-money laundering/countering the financing of terrorism (AML/ CFT) action plan, the Bangko Sentral ng Pilipinas (BSP) believes the work continues for the whole financial system.

The Paris-based Financial Action Task Force (FATF) earlier said the Philippines has addressed the 18 action plan items that had kept the country on its “grey list” since June 2021. (See: https://businessmirror. com.ph/2024/10/26/philippines-efforts-to-exit-fatf-greylist-a-significant-milestone-infinancial-security/)

The FATF is scheduled for an onsite assessment which will verify the implementation of AML/CFT reforms done by the country and whether these are being sustained. Once this is confirmed, the country will finally be removed from the grey list.

“The BSP remains committed to reinforcing the integrity of the Philippine financial system and continues to conduct risk-based AML/CTPF examinations, thematic reviews, and capacity building programs,” BSP said.

See “Grey list,” A2

By Lorenz S. Marasigan @lorenzmarasigan

THE Internet of Things (IoT) industry in the Philippines is poised for exponential growth, with both the Department of Information and Communications Technology (DICT) and private sector players such as Packetworx and Converge ICT Solutions championing IoT adoption across industries.

At the press conference on the sidelines of the Internet of Things (IoT) Conference 2024,

DICT Industry Development Bureau Director Emmy Lou Delfin emphasized that IoT is far more than just a technological advancement—it is the “connective tissue” of the digital age.

With the IoT market expected to hit P160.4 billion in 2024 and grow at a 20-percent annual rate, reaching P410 billion by 2029, DICT’s initiatives aim to lay the foundation for a robust IoT ecosystem, particularly through infrastructure

TBy Ada Pelonia @adapelonia

HE Department of Agriculture (DA) will meet with market leaders amid the still elevated retail prices of rice despite the reduction in tariff on the country’s staple food.

Agriculture Secretary Francisco Tiu Laurel Jr. said he ordered DA officials to talk to importers and confirm that they were selling wholesale rice prices at P38 per kilo. The department said traders from Bulacan told DA Undersecretary Roger Navarro and Undersecretary and Chief of Staff Alvin Balagbag that they have lowered

prices to around P38 per kilo, attributing the high retail prices to rice retailers.

“So, P45 should be the retail price but some retailers are selling at [P50 to P53 per kilo]. That’s where I detected an issue that it’s not right,” Laurel told reporters on the sidelines of the Mindanao Robusta Coffee Project (MRCP) update in Bukidnon on Tuesday. It will be recalled that President Ferdinand Marcos Jr. issued Executive Order (EO) 62 which slashed rice tariffs to 15 percent until 2028 as part of the government’s bid to bring down retail rice prices.

PPA deploys more workers to deal with ‘Undas’ surge

TContinued from A1

By Lorenz S. Marasigan @lorenzmarasigan

HE Philippine Ports Authority (PPA) expects a 5-percent increase in passenger volume during the Undas holidays this year, with around 1.62 million travelers anticipated to journey to their provinces for the observance of All Saints’ and All Souls’ Days.

This uptick, projected to exceed last year’s 1.54 million travelers, has prompted PPA to ramp up operations and ensure that ports are fully staffed and ready to manage the holiday rush.

To maintain seamless service, PPA General Manager Jay Santiago said he has instructed department heads to mobilize personnel across operations and security despite a government directive for a halfday work suspension in govern -

The DA said high rice prices weigh heavily on the consumer basket, which determines inflation.

ment offices on October 31.

“This is crucial to ensure we’re delivering full services to our passengers and port users during Undas and the long weekend,” Santiago said in Filipino. “As we observe All Saints’ and All Souls’ Days, we are supporting domestic tourism while ensuring their security and convenience at our ports.”

To address the expected influx, the PPA has also temporar -

Citing data from the Philippine Statistics Authority (PSA), the DA said around P9 of every P100 spent by the average Filipino consumer is used to buy rice, which doubles to P18 for the poor. Meanwhile, Laurel also instructed Navarro and the Agribusiness and Marketing Assistance Service (AMAS) to conduct ran -

ily suspended leave applications for port staff from October 25 to November 4.

Last year, ports such as Panay/ Guimaras and Batangas saw some of the highest passenger traffic, and these locations are once again preparing for heavy footfall.

During Undas 2023, Panay/ Guimaras recorded 146,781 passengers, followed by Batangas with 146,710, while Mindoro, Negros Orr/Siquijor, and Bohol ports collectively accommodated close to half a million travelers.

Santiago said the PPA has also been focused on restoring normal operations after Severe Tropical Storm Kristine caused P110.76 million in damage across multiple ports.

Santiago assured the public that all ports affected by the storm have resumed full operations, and PPA has prioritized relief and recovery efforts for areas that suffered sig -

dom inspections of public markets to collect price data and determine necessary actions, including measures permitted under the Price Act of 1993.

“Next week, that meeting will be set. We will talk to them and tell them, ‘if you’re profiteering, we will move under the price act,”

nificant damage.

So far, the agency has facilitated priority access for 13 vehicles and 223 personnel from various government agencies in the Bicol region, where the impact of the storm was particularly severe.

Additional measures are being put in place at Batangas Port to streamline passenger access and enhance security. An extra entry point has been opened to prevent scalpers and deter unauthorized insurance sellers.

Santiago reminded travelers that additional travel insurance is unnecessary, as ticket purchases already include basic coverage. He also advised passengers to remain vigilant against individuals offering unsolicited assistance with luggage.

“We are working on measures to enhance safety and accessibility within our terminal,” Santiago said.

he said.

The Price Act aims to protect consumers by stabilizing prices of basic goods and prime commodities. Under this law, the DA is responsible for implementing price measures on various agricultural products.

If prices are deemed excessive or unreasonable, the DA can recommend to the president the imposition of a price ceiling. The law also penalizes price manipulation through practices like hoarding, profiteering, and forming cartels.

“We will get to the bottom of this. Millions of Filipino consumers must not suffer from the greed of the few,” Laurel said.

The price of imported wellmilled rice ranged from P45 to P55 per kilo while regular rice stood between P42 and P48 per kilo as of October 28, based on the DA’s latest price monitoring.

The price of local well-milled rice stood between P43 and P54 per kilo while regular rice ranged from P41 to P50, according to DA.

IOT.

and smart city development.

“loT is not merely a technology; it is the connective tissue that binds our digital society, linking data, infrastructure, and people in ways that create opportunities, efficiency, and progress across all sectors,” Delfin said.

She said the DICT’s initiatives focus on expanding the nation’s digital backbone, including its National Broadband Plan and the Free Wi-Fi for All project, which provide the essential connectivity upon which IoT applications rely.  These efforts target both urban and rural communities, supporting IoT’s transformative applications in sectors such as healthcare, agriculture, and logistics.

The Digital Cities Program, which promotes smart city development outside Metro Manila, also plays a key role, according to Delfin. By preparing 31 regional locations as IT-BPM hubs, she said

These efforts include the BSP’s initiatives to enhance money service business supervision and the effectiveness of targeted financial sanctions framework for terrorism and proliferation financing.

The BSP added that it has implemented and sufficiently addressed its action plans on these efforts within the set timelines in 2022.

However, BSP said these efforts would not also be complete without the initiatives undertaken by banks and other BSP-supervised financial institutions (FIs) to improve their respective AML/CTPF frameworks.

The Philippines was included in the FATF grey list in June 2021. Since then, the BSP has worked with the National Government to further strengthen the country’s risk-based antimoney laundering/countering terrorism and proliferation financing (AML/CTPF) supervisory regime.

Under the National AML/ CFT Coordinating Committee’s Supervision of Financial Institutions Sub-Committee, the BSP has helped the Anti-Money Laundering Council, Securities and Exchange Commission, and Insurance Commission achieve significant milestones in riskbased AML/CTPF supervision.

Favorable result to boost prospects EARLIER , Jonathan Ravelas, senior adviser at professional services firm Reyes Tacandong & Co. told the BusinessMirror that a favorable assessment from FATF would improve the country’s economic and investment prospects.

He said the country’s international reputation will improve if it exits from the grey list, he said. This will, in turn, lead to increased foreign investment interest.

Ravelas said foreign investors prefer to do businesses in “stable and compliant environments”

the DICT envisions a nationwide framework for innovation that will drive IoT integration and bolster urban sustainability.

She added that the DICT’s Stimulating the Growth of Emerging Technologies in the Philippines (SET PH) program further cements the agency’s commitment to the IoT ecosystem.

“With IoT as one of the sectors, we aim to drive innovation, job creation, and growth, particularly in rural areas, where the impact of digital inclusion can be lifechanging,” Delfin said.

The IoT National Strategy for Policy and Industry Roadmap and Ecosystem Development (INSPIRED) initiative serves as the DICT’s blueprint to accelerate IoT adoption.

Inspired prioritizes infrastructure development, talent upskilling, and private sector collaboration, particularly with local IoT startups. Through programs like the Digital Startup Development and Acceleration Program (DSDAP), the DICT provides resources and networking opportunities to IoT-focused startups, nurturing Filipino innovation from the ground up.

which includes a country’s exclusion from the FATF grey list. Apart from businesses, Filipinos would enjoy lower costs for their financial transactions. This will become possible because financial institutions may see lower compliance costs as they face less scrutiny from international counterparts.

(See: https://businessmirror.com.ph/2024/10/28/exit-from-fatf-grey-list-seenboosting-phl-growth/).

BSP noted that a grey list exit will benefit Filipinos, especially Overseas Filipino Workers, through faster and cheaper remittances and other crossborder transactions.

University of Santo Tomas Research Center for Social Sciences and Education (RCSSED) Director Jeremaiah M. Opiniano told BusinessMirror overseas Filipinos in certain countries stand to benefit if the country exits the grey list.

AMLC saif FATF member countries can impose restrictions and additional checks, and possibly refusal of financial transactions with countries in the blacklist. This results in failed transactions, delays, and costs that may be passed on to the consumers.

Opiniano, who is also the Executive Director of the Institute for Migration and Development Issues (IMDI), said there are host countries who have been on guard for certain transactions with countries on the FATF watchlist. Some banks in the United Kingdom ask for more documentation for money being sent to the Philippines. He added that in Korea, there are reports that Filipinos there applying for simple debit cards were asked many sorts of further documentation—and the granting of that debit card was not guaranteed. However, Opiniano stressed that exiting the grey list is no panacea that could protect OFWs from illegal activities.

(See: https://businessmirror. com.ph/2024/10/26/philippines-efforts-to-exit-fatfgrey-list-a-significant-milestone-in-financial-security/)

“We believe that IoT has the potential to change our country for the better. It enables us to be more efficient and effective and makes us globally competitive,” he said.

Converge ICT Solutions CEO Dennis Uy noted that the company is building its network for the future, with IoT in mind. The company’s network expansion initiatives include over 700,000 kilometers of fiber-optic connections and over 6,000 sites in underserved regions, including remote schools.

Converge is also focusing on data centers, with a 10-megawatt facility in Pampanga and a 3-megawatt center in Cebu planned for 2025, to support IoT data processing needs.

Moreover, he said Converge is developing a five-layer technology stack that encompasses broadband, cloud TV, smart home solutions, and IoT sensors for household use.

Private sector support

IOT company Packetworx CEO Arnold Bagabaldo stressed IoT’s potential to make the Philippines more globally competitive.

Uy noted that Converge’s partnerships with local companies like Packetworx as crucial to network management and IoT deployment. He said by utilizing IoT sensors and advanced command centers, these partnerships enable real-time monitoring, enhancing service reliability and expanding IoT’s reach across sectors.

“By nurturing innovation and promoting adoption, we envision a truly lo-connected Philippines that serves as a beacon of progress in Asia,” Delfin said.

PCSO @ 90-CHARITY: A NATIONAL FOCUS

ON October 30, 2024, the Philippine Charity Sweepstakes Office (PCSO) will not only celebrate its 90th anniversary, but also marks a watershed moment in President Ferdinand R. Marcos Jr. government’s firm commitment to charitable initiatives.

It’s because this milestone is not just a celebration of nearly a century of PCSO’s charitable service, but also a remarkable juncture in history, as it coincides with the first-ever National Day of Charity, as declared by President Marcos Jr. on June 13 this year.

With that declaration, the President effectively elevated charity works and programs as one of the administration’s priority programs and agenda, paving the way for a more compassionate society.

And after almost a century of its existence, the PCSO is fortunate because the national government has finally realized that charity works and initiatives can be effective tools for national progress especially under the Bagong Pilipinas, as the overarching theme of the administration's brand of governance and leadership.

For the longest time, the PCSO has stayed in the background faithfully and dutifully complying with its mandate of providing assistance to those in need, until President Marcos Jr. decided to make charity initiatives as one of the most important building blocks for national development.

The declaration of the National Day of Charity has reinforced his calls for deep and fundamental transformations in all sectors of society and government, and visions to emphasize compassion, solidarity and social responsibility among Filipinos.

This year’s theme, "Charity: A National Focus," clearly highlights the Philippine government's commitment to fostering a culture of giving and extending a helping hand for those in need. Likewise, it was in compliance with Section 9, Article II of the Constitution which states that the State shall promote a just and dynamic social order that will ensure the prosperity and independence of the nation, and free the people

from poverty through policies that provide adequate social services, promote full employment, a rising standard of living, and an improved quality of life for all.

Republic Act No. 4130, as amended, meanwhile created the PCSO with the aim of institutionalizing the Sweepstakes as a means to raise funds for the promotion of public health and general welfare.

Consequently, the President's declaration is likewise, a significant endorsement of the vital role the PCSO is playing since its inception in 1934, and an approval of the kind of work, that the current leadership led by General Manager Melquiades Robles, is doing. It’s also historic because for the first time in its 90-year history, PCSO finds itself in the spotlight as the nation collectively recognizes the importance of charity.

This day serves as a reminder of the agency's unwavering mission to provide assistance to the underprivileged and marginalized sectors, funding healthcare services, education, and various social welfare programs.

Compassion and Generosity

The President's emphasis on charity as a priority program of his administration reflects a broader vision of solidarity and support within the Filipino community.

By recognizing the charity initiatives of PCSO, President Marcos Jr. not only honors the agency’s legacy but also encourages a nationwide movement toward compassion and generosity.

His leadership sets a precedent for other government entities to prioritize social responsibility, fostering an environment where charity becomes a collective endeavor.

PCSO’s Role

Over the decades, PCSO has become synonymous with providing various forms of charitable assistance to thousands of our less-fortunate countrymen.

From funding medical treatments to supporting various projects and helping the victims of natural calamities such as typhoons and earthquakes throughout the country, the agency has played a critical role in uplifting the lives of countless Filipinos.

And the introduction of the National Day of Charity complements PCSO's mission, providing a dedicated day for citizens to reflect on the importance of giving back and to participate in charitable activities.

This year, PCSO's anniversary celebration is infused with a renewed sense of purpose.

Special programs and events are scheduled to engage the public, showcasing various charity initiatives and encouraging community involvement.

The agency aims to inspire individuals and organizations alike to contribute to the betterment of society, reinforcing the notion that charity is not merely an act of kindness, but a fundamental pillar of a thriving nation.

Social Services

Over the decades, the PCSO has expanded its services and outreach, adapting to the changing needs of society while remaining committed to its core, values of integrity, transparency and service.

Its mandate includes allocating funds for various charitable programs, including direct assistance to indigent patients and collaborations with local government units and other agencies.

Healthcare Programs

The agency currently operates nine primary programs funded through its Charity Fund to assist the financially incapacitated.

These include its centerpiece Medical Access Program (MAP) available via PCSO offices and Malasakit Centers.

Other programs include Institutional Partnership, Medical Transport Vehicle Donation, Medical Equipment Donation, Outpatient Services, Medicine Donation, Medical and Dental Missions, Employees Consultation and Management and Ambulance Conduction.

The PCSO is also committed to providing one ambulance each to nearly 2,000 municipalities in the Philippines, with hopes for a second distribution round before the current administration's term ends.

Furthermore, the agency is contemplat-

ing the introduction of sea ambulances to assist island municipalities facing unique challenges in emergency medical transportation.

More Services

The agency is mandated by law to allocate funds from its revenue to various government entities, including the Philippine Sports Commission, Nutrition Foundation of the Philippines, Philippine Red Cross, Girl Scouts of the Philippines, and National Council on Disability Affairs.

Its recipients also include Quezon Institute, Boy Scouts of the Philippines, Cooperative Development Authority, Commission on Higher Education, Dangerous Drugs Board, PhilHealth, Local Government Units, and the Department of Finance.

Under Republic Act 11223, known as the “Universal Health Care Act,” approved on February 20, 2019, the PCSO is required to allocate 40% of its charity fund and net documentary stamp tax payments.

Additionally, local government units (LGUs) receive 5% of lotto shares by virtue of Executive Orders 257 and 367.

The Department of Finance is entitled to at least 50% of the PCSO's net income after corporate income tax, according to Republic Act 7656, also known as the Dividends Law.

Most Improved GOCC

In 2022, the PCSO received recognition as the most improved and best-performing government-owned and controlled corporation (GOCC) due to its remarkable accomplishments, outstanding disclosure practices, high performance ratings, and timely distribution of mandatory contributions.

Furthermore, the PCSO ranks among the top ten GOCCs that significantly contribute to the national treasury.

Looking Ahead

As PCSO embarks on its next chapter, it is inspired by the full support that President Marcos Jr. has bestowed especially with the establishment of the National Day of Charity, which it deems as a powerful catalyst for change.

Its leaders and employees know that there will be more challenges ahead, but are undeterred because they are comforted by the thought that more people now recognize that every act of charity contributes to the collective upliftment of our nation.

After all, charity is not merely an act of kindness, but a fundamental pillar of our society’s aspirations and success.

PCSO CELEBRATES FIRST-EVER NATIONAL DAY OF CHARITY

THE Philippine Charity Sweepstakes Office (PCSO) is optimistic that the National Day of Charity celebration on October 30 will be a rousing success. This, after the event drew enthusiastic participation from various government and non-government organizations across the country. It aims to foster a culture of giving and community support, encouraging citizens to engage in charitable activities that uplift those in need.

As the government’s charity arm, the PCSO is responsible for leading, coordinating, and supervising the observance of the National Day of Charity, which involves identifying programs, activities, and projects for the celebration.

In collaboration with numerous organizations, the event is expected to unite individuals, families, and communities in raising

awareness about the importance of helping those in need.

General Manager Melquiades Robles expressed his gratitude for the overwhelming support from various stakeholders.

“The response has been incredible,” Robles stated.

“We are thrilled to see so many organizations come together to have a positive impact on our communities through various charitable activities.”

The event also serves as an opportunity for individuals and groups to reflect on the significance of giving back.

Participating organizations have planned a range of activities designed to engage and inspire people to contribute to the betterment of society.

From volunteer days and fundraising events to educational outreach and awareness campaigns, the event promises to showcase diverse ways communities can sup -

port one another.

Robles emphasized the spirit of collaboration that has emerged in the preparation for this day.

“This isn't just about fundraising; it's about fostering a community spirit that encourages generosity and kindness, " he said.

GM Robles continued: "Many organizations are hosting activities that will not only benefit those in need, but also create bonding experiences for volunteers."

Robles then invited everyone to join in the celebration and make a difference.

He was also optimistic that the event will become an annual celebration that not only raises awareness for charitable causes, but also strengthens the bonds among all benefactors, stakeholders and beneficiaries.

A host of government and nongovernment organizations have pledged their commitment to participate in the observance of the

AS we celebrate the PCSO’s 90th anniversary and National Day of Charity, I am filled with gratitude and pride.

For nine decades, the PCSO has been more than just a government agency; it has served as an anchor of hope, a catalyst for change, and a symbol of the Filipino spirit of compassion and selflessness.

Through our various programs, we have positively impacted countless lives by providing essential medical assistance, educational opportunities, and critical support during times of crisis.

This anniversary is not only a celebration of the PCSO’s achievements, but also a tribute to the collective efforts of our dedicated staff, the remarkable support of our lottery players, and the unwavering spirit of the Filipino people.

As we reflect on these milestones, let us reaffirm our commitment to serving those in need. Together, let us strive for a nation where compassion, generosity, and solidarity are not merely ideals but the very foundation of our society.

We assure the Filipino people that the PCSO, under the banner of "Bagong Pilipinas" and guided by our steadfast slogan, "PCSO Hindi Umuurong sa Pagtulong," will continue to fulfill its mandate to build a brighter future for all Filipinos.

THE Philippine Charity Sweepstakes Office (PCSO) proudly celebrates its 90th anniversary on October 30th, a day recognized as National Day of Charity by the President under Proclamation No. 598. This dual celebration underscores the PCSO's unwavering commitment to serving the Filipino people through compassion and resilience.

For nearly a century, our agency has been a source of inspiration for many, offering transformative support to countless individuals and communities nationwide. With services ranging from medical aid to vital community programs, the impact of PCSO has been significant and profound.

I am excited about the promising future that lies ahead. We have a unique opportunity to expand our outreach and develop new games. By leveraging technology and innovation, we can continue to grow rapidly and serve even more Filipinos.

To our employees, partners, and the gaming public, thank you for your support and commitment to our shared mission. Let’s make the 90th anniversary a celebration of our accomplishments and a launchpad for an even brighter future.

National Day of Charity. Among them are:

nPCSO Small Town Lottery Authorized Agents Corporations (STL-AACS)

nLight Rail Transit Authority

nSupreme Court of The Philippines

nMetro Manila Development Authority

nDepartment of Public Works and Highways

nPhilippine Gaming Corporation

nPhilippine Racing Commission

nDepartment of Health

nPhilippine Health Insurance Corporations

nPhilippine Tuberculosis Society Inc.

nPTV-4

nGames and Amusement Board

nNational Privacy Commission

nGlobo Asiatico Enterprise

nComplete Solution Pharmacy

nLle Medical Healthcare Distributors

nTymed Enterprises

nKapuso Foundation

nZuellig Pharma

nPhilippine Medical Association

MELQUIADES A. ROBLES General Manager

JUDGE FELIX REYES (RET) Chairman

A4

Wednesday, October 30, 2024

DOE steps up ‘fuel caravan’ to boost relief, recovery efforts in Bicol

TO boost rescue, relief, and recovery efforts in the aftermath of Severe Tropical Storm Kristine, the Department of Energy (DOE) is stepping up its fuel caravan operations in partnership with various government agencies in Bicol, the hardest-hit region in Luzon.

This is as Typhoon Leon, the 12th severe weather disturbance to hit the country, threatens Luzon yet with another wave of Ondoylevel rains and strong winds.

A total of 61 fuel tankers have delivered an estimated one million liters of gasoline and diesel and 22,000 11-kilogram per cylinder of liquefied petroleum gas (LPG) in the Bicol region, the DOE said on Tuesday.

At least 42 of the tankers carrying gasoline and diesel and the 19 LPG tankers have reached several provinces across the Bicol region, including Albay, Camarines Sur,

Camarines Norte, Sorsogon, and Masbate, the DOE added.

Currently, 180 out of 236 retail outlets, or about 76 percent, are operational and able to supply fuel, providing essential resources to communities and responders as they continue with recovery efforts and daily operations.

On the LPG supply, DOE noted that these 22,000 cylinders which can supply 22,000 households will last for two to three weeks. Additionally, the one million liters of petroleum products are sufficient to fuel around 25,000 units of ambulances.

“We assure the Bicolanos that the Department of Energy and the oil companies of our strategic action in addressing their needs in the region. We are working tirelessly to expedite the replenishment process and ensure that fuel tankers can deliver additional supplies without delay to keep com -

munities and emergency response operations running smoothly,”

DOE Undersecretary and Task Force on Energy Resiliency (TFER)

Chairman Felix William B. Fuentebella said.

Preemptive measures

IN preparation for the onslaught of Leon, the DOE has also directed the energy stakeholders to implement preemptive measures to ensure resilience and continuity of services.

Oil companies were instructed to replenish fuel supplies at service stations, particularly in vulnerable and high-demand areas, to secure adequate resources for emergency response and community needs.

Power generation companies were urged to reinforce infrastructure and secure critical assets to minimize disruptions, while distribution utilities are ready with

their response teams for swift restoration efforts.

Government intensifies relief efforts

THE Office of Civil Defense (OCD) administrator, Undersecretary Ariel Nepomuceno, said the national government is also intensifying its efforts to assist those affected by Severe Tropical Storm Kristine that recently exited the Philippine area of responsibility.

Nepomuceno provided an update on the national government’s assistance, noting that family food packs, hygiene kits, and other aid have been sent to over 46,711 families in Region I, along with support for 34,600 families in Region II and 86,600 families in Calabarzon.

In Region V, he reported that approximately P5 million worth of assistance has been dispatched to typhoon victims, while over 62

families in Region VI have also received aid.

However, in Region VIII, only 30 percent of the 107,804 families in need have received assistance.

“We have enough prepositioned items including water filtration machines,” Nepomuceno assured.

He said upon the orders of Defense Secretary Gilbert Teodoro, the Department of the Interior and Local Government has issued a memorandum to all local governments, as well as DILG regional directors of Regions I, II, V, and CAR, and the chiefs of the National Police and the Bureau of Fire Protection, to implement forced evacuation protocols in anticipation of potentiallyheavy rainfall.

Kristine toll 125 dead, 115 injured AS Leon threatens to further intensify and develop into a super typhoon, the Nationa Disaster

Risk Reduction and Management Council (NDRRMC) said the number of casualties, now attributed to severe tropical storms Kristine (international code name Trami) and Leon (Kong-Rey) continued to increase, with 125 persons dead, 115 others injured and 28 individuals still missing as of Tuesday morning.

The NDRRMC’s Situation Report on the combined impacts of Kristine and Leon, issued at 8 a.m. Tuesday, revealed that 756 areas in Region 1, Region 2, Region 3, CALABARZON, MIMAROPA, Region 5, Region 6, Region 8, Region 9, Region 12, CARAGA, BARMM, and NCR were affected by floods.

The NDRRMC said a total of 1,789,276 families or 7,134,954 persons in 10,181 barangays in 909 cities and municipalities of

See “Kristine,” A5

Hold Duterte accountable for killings–House leader

By Jovee Marie N. dela Cruz @joveemarie

FOLLOWING former President Rodrigo Duterte’s own admission under oath that he was responsible for the extrajudicial killings during his administration’s war on drugs, a House of Representatives leader on Tuesday said that the former President now must be held accountable for crimes against humanity.

Manila Rep. Bienvenido Abante Jr. said under Republic Act 9851,

or the Philippine Act on Crimes Against International Humanitarian Law, Genocide, and Other Crimes Against Humanity, Duterte’s admission meets all the elements of command responsibility for crimes against humanity.

“When a leader knowingly permits the slaughter of civilians under his watch and when he admits that he bears responsibility, it is an inescapable truth: he is criminally liable,” Abante, a Christian preacher and bishop. stressed. In a statement before the Senate

Blue-Ribbon Committee on Monday, Duterte acknowledged legal accountability for the actions of his subordinates, who executed an anti-drug campaign. An estimated 12,000 to 30,000 people died during the campaign.

“This is not a case of semantics or vague [admission of] responsibility—this is a direct admission from the former President himself. By publicly taking full responsibility for the thousands of extrajudicial killings that plagued our nation during his term, Duterte

has admitted to a level of command responsibility that the law considers criminal,” pointed out Abante, who chairs the House Committee on Human Rights and co-chairs the Quad Committee that is investigating the extrajudicial killings during the previous administration.

RA 9851’s Section 10 establishes the principle of command responsibility, holding superiors accountable for crimes committed

See “Duterte,” A5

Fish production down by 13% in September

RBy Ada Pelonia @adapelonia

EGIONAL ports registered lower fish unloading volume in September, the Philippine Fisheries Development Authority (PFDA) reported.

arriving in September, the PFDA RFPs [regional fishing ports] are continuously giving their best to provide enough and rightly priced fishery products to their clients and stakeholders,” the agency said in a statement.

PFDA said the Camaligan Fish Port delivered 0.44 MT of fish, which registered the highest increase in fish unloading at 111.17 percent from the 0.21 MT of fish products distributed to consumers in August.

from the 123.783 MT recorded in the previous month.

“After the Bureau of Fisheries and Aquatic Resources [BFAR] lifted the annual three-month closed fishing season in the Davao Gulf, it is expected that fish unloading in DFPC will continue a positive recovery towards the end of the year,” the PFDA said.

habagat, the PFDA said Navotas Fish Port Complex experienced a decrease in volume with 13,559.20 MT of fish unloaded in September. The largest RFP in the country unloaded 15,809.70 MT in the previous month.

For the sole fish port in the Visayas, Iloilo Fish Port Complex, managed to garner 2,038.82 MT of fish, which was lower than the 2,724.86 MT of fish products provided to consumers in August.

“Despite inclement weather and fewer commercial fishing vessels

Data from the PFDA showed the fish unloading volume in September declined by 13 percent to 36,844.39 metric tons (MT) from the previous month’s 42,354.45 MT.

Legislator proposes large water impounding structures for Bicol

INSPIRED by Bonifacio

Global City’s six-storydeep water impounding structure, the chairman of the House Committee on Appropriations on Tuesday proposed the construction of large-scale water impounding facilities across the Bicol Region to alleviate flooding and ensure water availability during the dry season.

Ako Bicol Rep. Zaldy Co underscored the importance of comprehensive water management as a lasting solution to Bicol’s seasonal flooding challenges.

Co said these facilities would not only manage excess rainwater but also support irrigation needs and provide water for residential use.

Drawing inspiration from Bonifacio Global City’s six-story-deep water impounding structure, Co envisions similar systems for Bicol to harness rainwater and help secure the region’s food supply by enabling more frequent rice cropping cycles.

“The stored water can be a valuable resource during the dry season, providing both irrigation and drinking water. This initiative

supports both food security and climate resilience for the region,” he said. Reflecting on last year’s congressional town hall led by Speaker Martin Romualdez, Co noted a consensus among legislators to reallocate resources from traditional flood control to agricultural use.

In partnership with the Department of Public Works and Highways, Co revealed ongoing plans to construct tunnel systems through Bicol’s mountain ranges, which would expedite water flow toward the sea.

“These tunnels would act like a flush system, allowing us to release excess floodwater during extreme weather events,” he explained.

Addressing recent allegations about Bicol’s budget allocation, he clarified that the region’s P61 billion fund does not solely cover flood control projects.

“It’s a comprehensive budget that includes roads, hospitals, government buildings, and schools across Bicol’s 17 districts, six provinces, and seven cities,” he said. Jovee Marie N. dela Cruz

Govt on track in food stamp program

THE government is on track to achieve its target of 300,000 registered beneficiaries for its Food Stamp Program (FSP) for next year. During the sectoral meeting with President Marcos on Tuesday, Social Welfare Secretary Secretary Rexlon “Rex” T. Gatchalian reported that the Depatment of Social Welfare and Development has already been able to enrol around 200,000 beneficiaries in the FSP. Of the said beneficiaries, 89,772 households have redeemed their food supplies.

“With 182,771 families now receiving monthly food credits, I’ve asked the agency to closely monitor and report the Walang Gutom Food Stamp program’s impact,” Marcos said in a social media post.

“That way, we can keep on improving to reach our goal of supporting one million households by 2027,” he added.

The FSP provides P3,000 worth food credits to program beneficiaries, which they can access by presenting their DSWD transfer cards to accredited food retailers. The program aims to reduce local incidents of involuntary

hunger.

In a Viber message, Social Welfare Undersecretary Eduardo M. Punay told the  BusinessMirror  they were able to register 355 accredited food retailers.

Broken down in terms of size, the said establishments included 327 micro-, 15 small-, seven medium-, and six largeenterprises.

“Here are the active retailers of the program as of today, serving 80,000 household beneficiaries out of 300,000 beneficiaries target for this year,” Punay said. He said they are targeting to complete the 300,000 registration by next month.

Our validation and registration beneficiaries,” he added.

Marcos said the FSP will help the government to further reduce the number of food poor families (FPF).

Citing the 2023 Philippine Statistics Authority (PSA) data, Gatchalian said the number of FPFs dropped by 300,000 from one million.

“When we designed this [FSP], it was at one million. So, because [FPF] dropped, we have leg room in that area,” Gatchalian said. Samuel P. Medenilla

It added that the Davao Fish Port Complex also showed a positive performance with a 64.92 percent increase as it turned over 204.15 MT of fish in September

Meanwhile, the General Santos Fish Port Complex suffered a slight setback in its monthly fish unloading volume at 17,773.84 MT of fish, according to the agency. The port delivered 19,718.79 MT of fish products to consumers in August.

Following the impact brought by the southwest monsoon or

The PFDA noted that the fish unloaded in Lucena Fish Port Complex and the Bulan Fish Port Complex saw a slight decline in their September fish unloading at 1,307.79 MT and 1,249.30 MT, respectively.

The two Luzon ports unloaded 1,669.05 MT and 1,328.10 MT of fish in August, based on figures from the PFDA.

PFDA said the Zamboanga Fish Port Complex experienced fewer arrival of commercial fishing vessels and municipal bancas and delivered only 680.75 MT of fish. The port provided 944.27 MT to consumers in August.

The agency said Sual Fish Port saw a slight decrease in September because of fewer trips of fishing vessels brought by bad weather as it unloaded 30.1 MT of fish. It delivered 35.7 MT of fish in the previous month.

Lantion out, Paredes in at BCDA

PBy Samuel P. Medenilla @sam_medenilla

RESIDENT Marcos has named Hilario Bringas Paredes as the new chairperson of the Bases of Conversion and Development Authority (BCDA). In a Viber message, Executive Secretary Lucas P. Bersamin confirmed that the former Special

Kristine. . .

Continued from A4

81 provinces were affected. Because of the Ondoy-level rainfall that triggered unprecedented floodings, a total of 29,393 persons from Region 1, Region 2, Region 3, MIMAROPA, Region 8, Region 9, CARAGA were pre-emptively evacuated.  The NDRRMC said 935,114 individuals remain sheltered in 5,872 evacuation centers.

Leon batters Northern Luzon AS Leon undergoes rapid intensification over the waters of Cagayan on Tuesday, Tropical Cyclone Wind Signal 2 is now hoisted over several areas including Batanes, Babuyan Islands, Cagayan, some parts of Isabela, Apayao, the northern portion of Kalinga (City of Tabuk, Balbalan, Pinukpuk, Rizal), the northern portion of Abra (Tineg, Lacub, Malibcong), and Ilocos Norte, all in Luzon.

Meanwhile, TCWS No. 1 is

Duterte.

Continued from A4

by their subordinates if they were aware of these crimes and failed to take preventive or corrective measures.

Abante further explained that the killings conducted in the bloody war on drugs meet all the elements of willful killing as a crime against humanity under Section 6 of RA 9851.

“First, it involved the willful killings that affected thousands of civilians. Second, the victims were primarily civilians, suspected by police authorities to be involved in drug-related activities. Third, these killings occurred in a widespread, systematic attack across various cities, towns, and provinces throughout the Philippines. And fourth, these killings were executed under a State or organizational policy, namely, the anti-drug campaign of the former President, which included a national system of rewards within the police hierarchy,”

Assistant to the Secretary of Finance has been endorsed by the President to become the new BCDA chairman.

“It is my desire that Mr. Hilario Bringas Paredes be elected chairman, Board of Directors, Bases Conversion and Development Authority,” Marcos said in his letter to the BCDA Board of Directors dated 28 October 2024.

in effect in the rest of Isabela, Quirino, Nueva Vizcaya, the rest of Kalinga, Mountain Province, Ifugao, Benguet, the rest of Abra, Ilocos Sur, La Union, the eastern portion of Nueva Ecija, Aurora, the northern and eastern portion of Quezon (Infanta, Real, Mauban, Perez, Alabat, Quezon, Calauag, General Nakar, Atimonan, Plaridel, Gumaca, Lopez, Guinayangan, Tagkawayan) including Polillo Islands, Camarines Norte, Camarines Sur, Catanduanes, Albay, and the northern portion of Sorsogon (Prieto Diaz, City of Sorsogon, Gubat, Barcelona, Casiguran, Bulusan, Juban, Magallanes, Castilla, Pilar, Donsol)

The center of the eye of the typhoon was spotted 505 kilometers east of Tuguegarao City, Cagayan, or 515 km east of Aparri. It is currently moving west northwest at 10 kilometers per hour and is packing maximum sustained winds of 150 kmh near the center with gustiness of up to 185 kmh.

The typhoon is forecast to leave the country by 2:00 p.m. on November 1, passing through

he said.

ICC urged to look at House probe IN light of Duterte’s admission, Abante urged the International Criminal Court (ICC) to consider it in their ongoing investigation into the alleged crimes committed under Duterte’s anti-drug campaign.

During the Senate inquiry, Duterte also made a turnaround after admitting to creating a seven-man hit squad known as the Davao Death Squad (DDS)— led by former Davao City police chiefs, including now Sen. Ronald dela Rosa—during his tenure as Davao City mayor, a controversial matter he had previously denied.

Although he claimed he did not directly order the summary killing of anyone, Duterte stated that he instructed officers to provoke suspects to fight back, making it easier to justify their deaths.

For his part, Laguna Rep. Dan Fernandez, chairman of the House Committee on Public Order and Safety, said RA 9851 is clear in defining and penal -

Paredes, a 52-year-old businessman and practicing lawyer, is an incumbent member of the BCDA Board. He earned his Political Science and Law degrees from the Ateneo de Manila University. Paredes will replace incumbent BCDA Chairman Thompson Lantion, who was appointed by Marcos just last month. Paredes is the third BCDA chairman under the Marcos administration. Lantion is the Secretary-General of the Partido Federal ng Pilipinas and a retired two-star police general and member of Philippine Military Academy Class of 1969. He succeeded former Defense Secretary Delfin N. Lorenzana, who resigned from BCDA last month.

Itbayat, Batanes.

Mandatory evacuation TEODORO. has issued directives for the immediate implementation of forced and mandatory evacuations in areas identified as highrisk due to the anticipated adverse weather conditions.

Teodoro, who is also the National Disaster Risk Reduction and Management Council chair, said his measure is aimed at saving lives, as Leon developed into a typhoon and continues to threaten areas that are highly-susceptible to floods and landslides.

“This measure is very crucial to save lives. Being proactive will save lives; it’s better to take action now than to regret later and lose lives,” he added in a statement Monday night.

“Let’s continue to be proactive, especially with Bicol’s current situation where several towns and cities remain underwater. We always aim for zero casualties in the event of disasters, so we strongly urge the public to heed our protocols,” he added.

izing acts against international humanitarian law.

“Under this law, local courts have jurisdiction over these cases and can take cognizance of statements like those made by the former President, where he admitted to aspects of responsibility,” he said.

He specifically referenced Section 8 of RA 9851, which outlines command responsibility, holding superiors accountable for crimes committed by subordinates if they knew about the offenses and failed to prevent them.

“As the highest leader during his tenure, Duterte held the ultimate command responsibility under Section 8,” Fernandez explained.

The lawmaker also underscored Section 15 of RA 9851, which allows Philippine courts to incorporate international laws, including conventions on genocide, the Geneva Conventions, the The Hague Conventions, and those protecting the rights of children.

Electricity bill moratorium AS this developed, the government is now eyeing a threemonth moratorium on the payment of electricity bills and line disconnections in areas devastated by Kristine. The Presidential Communications Office (PCO) said President Marcos has directed the Energy Regulatory Commission (ERC) to study the proposal to give financial relief to communities in areas under the State of Calamity due to the recent weather disturbance.

“This suspension will cover the period from October to December 2024 and will include flexible payment options to ease the financial burden on affected communities and support their recovery efforts,” PCO said.

According to the Manila Electric Company, over 500,000 customers of the country’s biggest electric company were affected by the inclement weather.

Jonathan L. Mayuga, Samuel P. Medenilla, Lenie Lectura, Rex Anthony Naval, Butch Fernandez

The former President’s testimony, Abante argued, is essential for a comprehensive understanding of the thousands of deaths under the drug war.

“If he was physically well to attend the Senate inquiry on Monday, he should have no excuse to skip our next hearing,” said Abante.

Duterte was unable to appear at the QuadCom’s ninth hearing on October 22 as the former President’s lawyer, Martin Delgra lll, informed the joint panel that Duterte was not feeling well and needed to rest. On Monday, Duterte appeared to be in good health during his appearance at the Senate inquiry.

“We expect the former President to show up at our next hearing. We have many questions to ask him about his war on drugs and the deaths that resulted from it. We believe his answers will give us a more complete picture of the EJKs,” said Abante.

Face QuadCom ABANTE at the same time called on Duterte to attend the next House hearing on the alleged EJKs tied to his administration’s anti-drug campaign.

50.

Brief

BusinessMirror

51.

Brief

52. WANG, DONGHUI Research And Accounts Specialist

Brief

53. WANG, JUHONG Research And Accounts Specialist

Brief

54. YANG, BO Research And Accounts Specialist

Brief

55. YANG, ERLINDA Research And Accounts Specialist

Brief Job Description: Client’s relations, support the client’s relationship management process including preparing presentations coordinating meetings and maintaining client’s databases.

56. YANG, TAO Research And Accounts Specialist

Brief Job Description: Client’s relations, support the client’s relationship management process including preparing presentations coordinating meetings and maintaining client’s databases.

57. HUANG, QIN Sr. Accounting Manager

Brief Job Description: Prepares budgets and analyzes budget variances to initiate corrective actions. Basic Qualification: Able to speak and write in Mandarin and Vietnamese languages.

58. LI, SILIANG Sr. Accounting Manager

Brief Job Description: Prepares budgets and analyzes budget variances to initiate corrective actions. Basic

59. LIU, YUPING Sr. Accounting Manager

Brief

60.

61. WANG,

Brief

BusinessMirror

RABBI, MD. FAZLE Customer Support Specialist

Brief

97.

languages (at least B2 level): Hindi and English languages. Strong verbal and written communication skills in the chosen language. Experience with translation and localization tools and software.

Salary Range: Php 60,000 - Php 89,999

98. RAHMAN, MD ANISUR Customer Support Specialist

Brief Job

Basic

125. WANG, LI Mandarin Quality Control Officer

Brief

126. WANG, QIN Mandarin Quality Control Officer

Brief Job Description: The Mandarin Quality Control Officer ensures that the quality of product from plans to actual construction is strictly implemented.

127. WU, YANG Mandarin Quality Control Officer

Brief Job Description: The Mandarin Quality Control Officer ensures that the quality of product from plans to actual construction is strictly implemented.

Basic Qualification: Must be knowledgeable in developing and reviewing project quality plans, contract documents and project specifications. Must have knowledge to a wide range of construction materials, methods, and techniques.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must be knowledgeable in developing and reviewing project quality plans, contract documents and project specifications. Must have knowledge to a wide range of construction materials, methods, and techniques.

Salary Range: Php 30,000 - Php 59,999

QBE GROUP SHARED SERVICES LIMITED-PHILIPPINE BRANCH Net Cube Building, 3rd Avenue Corner 30th Street, E-square Zone, Crescent Park West, Bonifacio Global City, Fort Bonifacio, City Of Taguig

128. TATIA, PRAVEEN SVP - Data, Analytics And AI Brief Job Description: Working closely with Data, Analytics and AI Department.

PHL OPERATIONS INC. Unit 801, 802, 803, 805 Greenfield Tower, Mayflower Cor

129. MOHAMED ZAROOK, FATHIMA AFRAH Customer Service Associate - Sinhala Bilingual

Brief Job Description: Professionally handle incoming customer inquiries, thoroughly and efficiently gather required customer information amenable to work with other management team for case escalation and issues.

130. HUANG, YUSHENG

Mandarin Account Supervisor

Brief Job Description: Managing client relationships, developing and implementing strategic plans to achieve client goals. Overseeing the work of account managers.

LIU, SHENGLIANG

Mandarin Account Supervisor

131.

Brief Job Description: Managing client relationships, developing and implementing strategic plans to achieve client goals. Overseeing the work of account managers.

132. ZHOU, SHIJIE

Mandarin Account Supervisor

Basic Qualification: Any nationality with excellent verbal communication skills, especially in Mandarin and English languages.

Salary Range: Php 30,000 - Php 59,999

and English languages. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Managing client relationships, developing and implementing strategic plans to achieve client goals. Overseeing the work of account managers. Basic Qualification: Any nationality with excellent verbal communication skills,

133.

165.

TECH

General

Brief

Brief

166.

Brief

TELUS INTERNATIONAL PHILIPPINES, INC.

168. EYONG-TIKU, MERMARYL KETCHEN

DINGANA

173.

October 30, 2024

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP/S)

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

1 ACBEL POLYTECH PHILIPPINES, INC.

No. 2 Tagaytay Ridge Drive, Carmelray Industrial Park II, Km 54, Milagrosa, City of Calamba, Laguna

LIU, YUNG-FU

Sr. Quality Assurance Manager

Brief Job Description:

Ensure product and process of highest quality according to standard and customer requirement Basic

strong technical background in manufacturing and quality assurance of electronics

9 HONDA PARTS MANUFACTURING CORPORATION

101 North Science Avenue, Laguna Technopark, Phase II, Biñan, City of Biñan, Laguna SHIKATA, ATSUSHI

CEQ and Adviser – QC Section & QMS Group

Brief Job Description:

Responsibility of the job is to support quality control

2 CAVITE BIOFUEL PRODUCERS INC.

Sitio Lobo-lobo, Cavite Biofuels Ecozone, Caluangan, Magallanes, Cavite

3 CAVITE BIOFUEL PRODUCERS INC.

Sitio Lobo-lobo, Cavite Biofuels Ecozone, Caluangan, Magallanes, Cavite

4 CAVITE BIOFUEL PRODUCERS INC.

Sitio Lobo-lobo, Cavite

Biofuels Ecozone, Caluangan, Magallanes, Cavite

5 CAVITE BIOFUEL PRODUCERS INC.

Sitio Lobo-lobo, Cavite Biofuels Ecozone, Caluangan, Magallanes, Cavite

6 CAVITE BIOFUEL PRODUCERS INC.

Sitio Lobo-lobo, Cavite Biofuels Ecozone, Caluangan, Magallanes, Cavite

7 CAVITE BIOFUEL PRODUCERS INC.

Sitio Lobo-lobo, Cavite Biofuels Ecozone, Caluangan, Magallanes, Cavite

8 CAVITE BIOFUEL PRODUCERS INC.

Sitio Lobo-lobo, Cavite Biofuels Ecozone, Caluangan, Magallanes, Cavite

RAY, CHHOTE LAL

Cane Mill Technical Specialist

Brief Job Description:

Lead and manage a team of instrumentation technicians/engineers, providing guidance support and mentoring as needed

PUNDEER, AJAY KUMAR

Cane Milling Shift Supervisor/DCS Engineers

Brief Job Description:

Oversee the day-to-day operation of the water and water-waste treatment plant, including process monitoring, trouble shooting, and optimization

DASARI, SATYANARAYANA MURTHY

Instrumentation Engineer/Supervisor

Brief Job Description:

Reads operation logbooks and obtain verbal and written information from outgoing technician on status of operation

DEVARAPALLI, MOHIT KIRAN

Power Generation Shift Supervisor

Brief Job Description:

Direct and supervise a team of technicians and operators responsible for operating and maintaining utility supply systems

SHARMA, ANUJ KUMAR

Process Supervisor (Chemist)

Brief Job Description:

Lead a team of operation to ensure safe and efficient operation of cane milling equipment

PASWAN, KHAGESH

Process Technician-Fermentation Plant

Brief Job Description:

Upon turnover of shift, reads operation logbooks and obtain verbal and written information from outgoing technician on status of operation

SHARMA, PRADIP KUMAR

Water And Water Waste Treatment

Operations Manager

Brief Job Description:

Oversee the day-to-day operation of the water and water-waste treatment plant, including process monitoring, trouble shooting, and optimization

Basic Qualification:

Good oral and written communication in English and Hindi

Salary Range: Php 30,000 - Php 59,999

Basic Qualification:

Good oral and written communication in English and Hindi

Salary Range:

Php 30,000 - Php 59,999

Basic Qualification:

Good oral and written communication in English and Hindi

Salary Range: Php 30,000 - Php 59,999

Basic Qualification:

Good oral and written communication in English and Hindi

Salary Range: Php 30,000 - Php 59,999

Basic Qualification:

Good oral and written communication in English and Hindi

Salary Range: Php 30,000 - Php 59,999

Basic Qualification:

Good oral and written communication in English and Hindi

Salary Range: Php 30,000 - Php 59,999

10 HONDA PHILIPPINES, INC.

Lot 34, Phase 1-B, Road 3, First Philippine Industrial Park, Ulango, City of Tanauan, Batangas

11 JT INTERNATIONAL ASIA MANUFACTURING CORP.

Lots 1-10, Block 4, Phase 3, Lima Technology Center, Santiago, Malvar, Batangas

12 MEGGA STEEL MANUFACTURING CORPORATION

Lot 5, Alimagno Compound, Banlic, City of Cabuyao, Laguna

13 RELIANCE PRODUCERS COOPERATIVE

7 Goldenmile Avenue, Golden Mile Business Park, Maduya, Carmona, Cavite

ONOZUKA, MASARU

Assistant Vice President and Adviser

Brief Job Description: Recommend

FERREIRA DA SILVA, EDSON

Business Unit Manager Brief Job

XIAO, JINQIANG

Business Development Manager

Brief Job Description:

HU, HUANXI

Technical Consultant-Pattern

Brief Job Description: Reviews, plans, organizes and manages, interpreting and understanding technical package in pattern making

14 TOYOTA TSUSHO PHILIPPINES CORPORATION

Blk. 4 Lot 2, Main Road 3, Calamba Premiere International Park, Batino, City of Calamba, Laguna GOTO, YOSHIHIRO General Manager

Brief Job Description: Create business sales and sales administrative strategies to achieve corporate goals

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE Regional Office IV-A located at 3rd and 4th Floors, Andenson Building II, Parian, Calamba City, Laguna, within 30 days after this publication.

Please inform DOLE Regional Office IV-A if you have any information on criminal offense committed by the foreign nationals.

oral and written communication in English and Hindi

Salary Range: Php 30,000 - Php 59,999

Law expert calls Duterte testimony ‘a legal disaster’

By Malou Talosig-Bartolome & Butch Fernandez @butchfBM

N INTERNATIONAL law

Aexpert said the admission under oath by former President Rodrigo Duterte at the Senate Blue Ribbon hearing that he had a death squad is “a disaster” that may be used by the local courts and International Criminal Court against him, as the Senate announced that the transcript of his remarks will be made public.

“Politically, he was able to defend himself. But legally, it was a super disaster,” former dean of Ateneo de Manila University School of Law Antonio Gabriel Laviña told BusinessMirror

Also on Tuesday, Senate President Francis Escudero said the full transcript of Duterte’s Senate testimony will be made public for transparency, and it is up to all “parties in interest” to use this for whatever legal purpose it may serve.

Escudero acknowledged that in the past, many of Duterte’s controversial statements and thinly-veiled remarks justifying extrajudicial killings were quickly dismissed by his aides as a “joke,” but this time around, Escudero stressed, he cannot claim saying anything in jest because the Senate testimony was all made under oath.

Political headway, but….

LAVIÑA , who is now one of the members of the Permanent Court

of Arbitration based in The Hague, The Netherlands, said Duterte made some political headway during his appearance at the Senate Monday.

“He made a lot of political points because he controlled his allies, he had drama. So maybe, his die-hard supporters were really enthralled,” he said, speaking partly in Filipino.

“But, substance-wise, it was a disaster legally speaking for the ICC and for courts here in the Philippines,” he said.

The ICC has been investigating the “crimes against humanity of murder” in the context of the so-called ‘war on drugs’ campaign while Duterte was mayor of Davao until he became President from the period of November 1, 2011 until March 16, 2019.

The Philippines was a founding member of the Rome Statute but withdrew its membership as ICC investigators started building a case against Duterte.

Despite the Philippines’s withdrawal from the Rome Statute, the ICC Pre-Trial Chamber ruled that it still has jurisdiction to investigate the alleged crimes against humanity over the period when the Philippines was still a member.

La Viña noted that Duterte’s comments at the Senate blue ribbon were actually just a repeat of his previous public statements during his administration.

“This is just like a confirmation of everything he said before, encouraging basically extrajudicial killings,” he said.

One of the elements of the ICC

for an offense to be considered “crimes against humanity” is when the accused state actor is the one doing the actual killing.

“He admitted that because he said he had his own death squad,” he said.

The two other elements for “crime against humanity” are when the accused is instigating it and didn’t put a stop to the killings despite his power to do it. La Viña believes Duterte also confessed this at the Senate hearing.

Escudero: Transcript a public document

ESCUDERO said the statements of Duterte were recorded and transcripts of the public hearing will be released for the reference of whichever party is interested and for the general public to peruse.

Escudero, meanwhile, commended Minority Leader Aquiilino “Koko” Pimentel III for the fair handling of the Blue Ribbon Subcommittee investigation on extra-judicial killings during the Duterte administration. Escudero said Pimentel did “a good job” more than what he expected.

“The role that Senator Koko played yesterday was not easy, and for me, he did his best to preside over that hearing and gave everyone a chance to speak, which is the most important thing,” Escudero said in Filipino.

Escudero clarified, in response to a question at Tuesday’s Kapihan sa Senado that this time around, it would be hard for Duterte to say that much of his controversial

Legislator to PNP: Enhance digital crime reporting system

By Jovee Marie N. dela Cruz @joveemarie

ALAWMAKER on Tuesday called on the National Police (PNP) to enhance its digital crime reporting system and integrate more technological

innovations to engage citizens in crime prevention and law enforcement efforts.

Bicol Saro Rep. Brian Raymund Yamsuan, a former senior official of the Department of the Interior and Local Government (DILG), said adopting technology-driven

strategies will help improve the police’s performance and build public trust and confidence in the law enforcement organization.

He also commended the initial implementation of the force’s Law Enforcement Reporting and Information System (Leris) in Metro Manila, under the National Police chief, Gen. Rommel Marbil’s leadership.

Leris is a digital policing app enabling the public to report suspicious activities or crimes using their mobile phones.

“With cell phones being a ubiquitous part of our daily lives, Leris could be a game changer that could lead to improved police response times. If implemented properly on a nationwide scale, this would encourage many citizens to be more proactive in helping prevent crime,” said Yamsuan.

Yamsuan said that under the proposed P6.325 trillion national budget for fiscal year 2025 approved by the House of Representatives, the DILG will get P281.3 billion, of which 73 percent, or 206.2 billion, is allocated to the National Police. The implementation of Leris would get a P1.2 billion boost next year.

“Usually, we are hesitant to call or go to the police station even if we are already seeing something suspicious in our surroundings or witnessing an ongoing crime. If the National Police’s digital app were implemented nationwide, the public would be encouraged to report suspicious activities and crimes using their cellphone,” he said.

“Given the P1.2 billion alloca -

statements were made in jest, as he was wont to do when he was president.“Hindi marahil maaaring sabihin na biro lang ang sinabi niya sa Senado [It doesn’t seem likely that he can claim he was joking]” when he blurted out several times that he had encouraged cops to conduct summary killings in order to eradicate illegal drugs, Escudero said.

As for Duterte’s bold statement that he will always justify what he did in the war on drugs and was willing to take the fall for it because he “pitied those cops,”  Escudero surmised that the ex-president’s remarks may be his way to operationalize his claiming ultimate responsibility, since the ones facing charges now – some have already been convicted of murder—are the low-ranked cops.

Escudero noted that the former chiefs of police of Davao and elsewhere, “to my knowledge, are not facing any cases at present.” Only low-ranked cops following his drug war policy are facing charges, or have been convicted for wrongful deaths of alleged drug suspects.

From what he heard from Duterte, Escudero said, the former President was “pretty clear at what he was trying to say yesterday.”

Based on his experience with the former President over the years, he said Duterte “tends to do things that you do not expect.”

As a lawyer, Escudero emphasized that the Constitution does not allow anyone to take the law in his or her own hands, regardless of motive or justification.

tion for Leris, we hope that the police could further widen the reach of this digital policing app so that it could be implemented nationwide by next year,” he added.

Developed by the Department of Information and Communications Technology (DICT), Leris can be accessed via the eGovPH app by clicking the eReport icon. It is being tested, at present, in the Metro Manila police districts and is expected to be fully operational within Metro Manila by the end of the year.

Yamsuan said the Metro Manila police command should launch an information drive in social media to familiarize the public with the use of the Leris through the eGovPH app.

“Soft” technological tools like Leris should be complemented by “hard” technologies, such as the increased use of closed-circuit television cameras, especially in public places, and making bodyworn cameras mandatory in law enforcement operations, when applicable, Yamsuan pointed out.

He backed the PNP’s plan to procure body-worn cameras with artificial intelligence (AI) capabilities but emphasized the need for the police to also invest in training its personnel on the proper handling, filing, and storage of the video footage in these devices to ensure that these remain untampered and viable tools in supplementing evidence in court against crime suspects.

Yamsuan said he remains optimistic that fellow lawmakers would be able to pass one of his co-authored measures, House Bill 4708, which seeks to mandate the use of body-worn cameras during law enforcement operations.

He is also a co-author of HB 8068, which aims to require business establishments to install CCTVs in and around their premises as a means to help deter crime.

Western Visayas workers to get ₧33-₧40 wage hike

By Justine Xyrah Garcia

RIVATE sector workers in

Pthe Western Visayas region can expect a P33 to P40 increase in their daily minimum wage starting next month.

In an advisory released by the Department of Labor and Employment on Tuesday, the new minimum pay for workers in non-agricultural establishments employing more than 10 workers will increase by P33, bringing their salary from P480 to P513.

For those working in smaller establishments with fewer than 10 employees, the wage will rise by P35, moving from P450 to P485.

Meanwhile, workers in the agricultural sector will see a P40

increase, setting their new daily wage at P480—up from the previous P440.

The Regional Tripartite Wages and Productivity Board VI has also approved a P1,000 monthly wage increase for domestic helpers in the region, raising their new minimum monthly pay to P6,000.

According to DOLE, the wage hike is expected to directly aid 193,032 minimum wage earners and 160,795 domestic helpers in Western Visayas.

“About 300,252 full-time wage and salary workers earning above the minimum wage may also indirectly benefit as a result of upward adjustments at the enterprise level arising from the correction of wage distortion,” it added.

IAS wants 11 axed over fistfight of moonlighting cops, cover-up

TBy Rex Anthony Naval

HE Philippine National Police-Internal Affairs Service (PNP-IAS) on Tuesday recommended the dismissal from the service of six police commissioned officers, including a lieutenant colonel, and five police non-commissioned officers for grave misconduct, grave dishonesty and conduct unbecoming of a police officer arising from their involvement in a widely reported incident at Ayala Alabang Subdivision inMay.

The administrative case arose from a fight in which a security guard from the exclusive enclave sought police assistance after residents complained about the disturbance caused by two policemen from the PNP Special Action Force (SAF) who were allegedly “moonlighting” as security escorts for a Chinese national purportedly linked to a Philippine Offshore Gaming Operator (POGO).

The SAF officers were engaged in a fistfight at the scene when members of the Ayala Alabang Police Sub-Station 5 arrived and arrested them.

It was later revealed through an investigation that the SAF officers were not performing their official duties with their respective units at the time of the incident. Instead, they were rendering protective services without the required approval from the Police Security and Protection Group (PSPG), in clear violation of PNP policies.

During the hearing, evidence surfaced which showed a conspiracy among certain SAF officials in Zamboanga City to cover up the illegal activities of the policemen in Ayala Alabang, making it appear that the two SAF commandos were physically

present at their assigned units—the 52nd Special Action Company Zamboanga and the 55th Special Action Company Zamboanga, respectively—when, in fact, they were not.

The IAS found several SAF officials guilty of grave misconduct, grave dishonesty, and conduct unbecoming for attempting to cover up the unauthorized moonlighting activities of their personnel.

The two SAF personnel arrested in Muntinlupa, in particular, were dismissed for moonlighting, grave irregularities in the performance of their duties and for engaging in protective services to private persons without proper authorization.

In a statement, IAS Inspector General Brigido Dulay emphasized the importance of upholding professionalism and integrity within the PNP.

“This resolution serves as a stern reminder that no police officer is above the law. The public has the right to expect the highest level of integrity from those sworn to serve and protect the public. Any deviation from this duty will be met with the appropriate disciplinary sanctions,” the Inspector General said.

The dismissal of these officers is a significant step in the IAS’s continued commitment to accountability within the police force, especially in the face of recent high-profile cases involving PNP personnel that threaten to undermine public trust in law enforcement.

The IAS of the PNP is the lead agency responsible for investigating police misconduct and upholding accountability within the agency.

IAS is committed to ensuring that police officers adhere to the highest standards of conduct in serving the Filipino people.

Comelec proposes 15% ballot-shading threshold

IBy Justine Xyrah Garcia

N a bid to make the voting process more inclusive, the Commission on Elections announced on Tuesday its plan to lower the ballot-shading threshold to 15 percent for the 2025 national, local, and parliamentary elections.

Comelec Chairman George Erwin Garcia said the new recommended threshold aims to prevent the disfranchisement of voters who may struggle to shade their ballots—a long-time issue every election day.

Speaking during the end-to-end testing of the automated election system at the Palacio del Gobernador, the poll chief explained, “Yung mga nakakatanda, may kapansanan,nahihirapan,kahittuldoklang nila mabibilang…Always remember, the real intention of the voter should prevail.”

This means that automated counting machines would read and accept any shading that covers at least 15 percent of the oval beside a candidate’s name as a valid vote, regardless if the voter has fully shaded it or not.

“It’s not yet approved, but this is the first time that we will set such a low threshold.

We have to go to the very intent of the voter,” Garcia added.

However, while the commission aims to be more lenient with the ballot-shading threshold, it clarified that it would not provide replacement ballots for those who would shade more than the allowed number of choices or intentionally damage their ballots.

Garcia explained that this is considered “touch move” under voting rules, invalidating votes for any position with excessive choices.

“Walang counter sign kasi otherwise mauubos ang balota Hindi naman maapektuhan yung buong balota eh. Yun lang posisyon na yun,” he added.

To help voters avoid errors, Garcia encouraged the use of a “cheat sheet,” a pre-prepared list of selected candidates that voters can bring into the polling booth. The Comelec en banc will hold its regular session on Wednesday to discuss the possibility of implementing this new shading rule. Historically, the lowest shading threshold was first recorded in 2013, at 20 percent. This was also implemented in the previous 2022 national elections.

Wednesday, October 30, 2024 A13

Arson attacks destroy hundreds of ballots in Oregon and Washington, raising election security concerns

By Gene Johnson & Claire Rush

PThe Associated Press

ORTLAND, Ore.—Incendiary devices were set off Monday at two ballot drop boxes—one in Portland and another in nearby Vancouver, Washington—destroying hundreds of ballots in what one official called a “direct attack on democracy” about a week before a heated Election Day.

The early morning fire at the drop box in Portland was extinguished quickly thanks to a suppression system inside the box as well as a nearby security guard, police said, and just three ballots were damaged there.

But within a few hours, another fire was discovered at a transit center drop box across the Columbia River in Vancouver. Vancouver is the biggest city in Washington’s 3rd Congressional District, the site of what is expected to be one of the closest US House races in the country, between first-term Democratic Rep. Marie Gluesenkamp Perez and Republican challenger Joe Kent.

The ballot box in Vancouver also had a fire suppression system inside, but that failed to prevent hundreds of ballots from burning, said Greg Kimsey, the longtime elected auditor in Clark County, Washington, which includes Vancouver. He urged voters who dropped their ballots in the transit center box after 11 a.m. Saturday to contact his office for a replacement ballot.

“Heartbreaking,” Kimsey said. “It’s a direct attack on democracy.”

The office will be increasing how frequently it collects ballots and changing collection times to the evening, Kimsey said, to keep the ballot boxes from remaining full of ballots overnight when similar crimes are considered more likely to occur.

The county also decided late Monday to hire workers through a staffing agency to monitor all of its drop boxes 24 hours a day until the election is over, Kimsey said. The workers will have instructions to simply observe the ballot boxes and not confront anyone. Instead, they will call 911 if they see anything suspicious, he said.

Ballot drop boxes have faced increasing criticism from Republicans and have been the focus of baseless right-wing conspiracy theories in recent years, tied to former President Donald Trump’s lie that the 2020 election was stolen from him. An Associated Press survey of state election officials across the US found that there were no widespread issues with drop boxes in 2020, and none that could have affected the results.

Six states have banned ballot drop boxes since 2020: Arkansas, Mississippi, Missouri, North Carolina, South Carolina and South Dakota, according to research by the Voting Rights Lab, which advocates for expanded voting access. Other states have restricted their use, including Ohio and Iowa, which now permits only one drop box per county, according to the Brennan Center for Justice. Washington and Oregon, which are both vote-by-mail states, have long used ballot drop boxes.

Authorities said at a news conference in Portland that enough material from the incendiary devices was recovered to show that the two fires Monday were connected—and that they were also connected to an Oct. 8 incident, when an incendiary device was placed at a different ballot drop box in Vancouver. No ballots were damaged in that incident. Surveillance images captured a Volvo pulling up to a drop box

in Portland, Oregon, just before security personnel nearby discovered a fire inside the box on Monday, Portland Police Bureau spokesman Mike Benner told a news conference. The incendiary devices were attached to the outside of the boxes.

The FBI was also investigating.

The fire suppression systems inside the ballot drop boxes in Washington and Oregon were designed to activate when the temperature inside reaches a certain point, coating ballots with a firesuppressing powder.

The system appeared to have worked in the Portland drop box, and security staffers were nearby to help put out the fire. Multnomah County Elections Director Tim Scott said the county has contracted with private security officers to have “roving patrols” that drive around the county 24 hours a day and “put eyes” on all drop boxes.

He said one of the guards was at the county elections office, heard what sounded like a blast—likely the activation of the fire suppression system—and called police. For unknown reasons, the system failed to prevent the destruction of hundreds of ballots in Vancouver.

Gluesenkamp Perez said in a statement that she is requesting an overnight law enforcement presence posted at all ballot drop boxes in Clark County through Election Day.

“Southwest Washington cannot risk a single vote being lost to arson and political violence,” her statement said.

In a video posted on the social platform X, Kent also condemned the “cowardly act of terrorism.” He said he trusted law enforcement to find out who was responsible, urged voters to make sure their ballots are counted and said he continues to have faith in the ballot drop box system in Washington.

“No one should be intimidated,” Kent said.

Voters were encouraged to check their ballot status online at www.votewa.gov to track its return status. If a returned ballot is not marked as “received,” voters can print a replacement ballot or visit their local elections department for a replacement, the Secretary of State’s office said.

John Burnside, 68, said he and his wife dropped off their ballots at the Vancouver box Sunday afternoon and learned about the fire the next morning on the news. He checked the status of their ballots, did not see that they had been received by elections officials, and requested new ones.

They now plan to either mail their ballots or deliver them in person, he said.

“I’m certainly in favor of inperson voting simply because you know your ballot goes through right then,” he said. “It may be extra work but it does add a level of security.”

Officials in Portland were able to identify the three voters whose ballots were damaged and planned to contact them and provide replacement ballots. The Multnomah County sheriff’s office said it would be increasing uniformed and plainclothes patrols around the drop boxes.

Monday afternoon, voters dropped off their ballots at the new drop box that replaced the one that had been set on fire in Portland. Pam Parnell said the incident shocked her.

Christina A. Cassidy in Atlanta and Jennifer Sinco Kelleher in Honolulu contributed. Johnson reported from Seattle.

Global oil prices tumble as Israeli strikes on Iran target military sites, spare energy infrastructure

By The Associated Press

GLOBAL oil prices are falling sharply after a retaliatory strike by Israel over the weekend targeted Iranian military sites rather than its energy infrastructure as had been feared.

Prices for crude spiked globally on October 2 after Iran fired nearly 200 missiles into Israel, part of a series of rapidly escalating attacks between Israel and Iran and its Arab allies that threatened to push the Middle East closer to a regionwide war.

Iran is the world’s seventh largest oil producer, but a wider conflict in the Middle East could have an impact for some of the world’s largest energy producers in the region.

With many seeing that threat diminishing, at least in the near term, the price of benchmark US crude and Brent crude, the international benchmark, tumbled 6 percent on Monday. US crude fell well below $70 per barrel.

The Israeli military said its aircraft targeted facilities that Iran used to make the missiles fired at Israel as well as surface-to-air missile sites.

Here’s a look at the current situation and the outlook for oil and gas prices:

Brief jump in prices ends as weak demand takes center stage again THE price for US benchmark crude tumbled 6 percent Monday after a weekend retaliatory strike by Israel on Iran targeted military sites rather than the oilfields of the world’s seventh largest producer of crude. That puts the price of a barrel of US crude well under $70 after it jumped above $77 earlier this month. Oil and gasoline prices are each down sharply from their yearly highs in April. A gallon of gas at more than half the pumps in the US can be had for less than $3, according to energy analysts.

Focus has returned to the fundamentals of global energy markets, which this year has been a story of ample supply and falling demand. A chief driver is slowing economic growth in China, a massive energy consumer. Beijing said this month that China’s economy expanded at an annual rate of 4.6 percent in the

North Korea deploys 10,000 troops to fight alongside Russia in Ukraine

By Lorne Cook & Tara Copp

The Associated Press

BRUSSELS—North Korea has sent about 10,000 troops to Russia to train and likely fight against Ukraine within “the next several weeks,” the Pentagon said Monday, in a move that Western leaders say will intensify the almost three-year war and jolt relations in the Indo-Pacific region.

Some of the North Korean soldiers have already moved closer to Ukraine, Pentagon spokeswoman Sabrina Singh said, and were believed to be heading for the Kursk border region, where Russia has been struggling to push back a Ukrainian incursion.

Earlier Monday, NATO Secretary-General Mark Rutte confirmed recent Ukrainian intelligence reports that some North Korean military units were already in the Kursk region.

Adding thousands of North Korean soldiers to Europe’s biggest conflict since World War II will pile more pressure on Ukraine’s weary and overstretched army. It will also stoke geopolitical tensions in the Korean Peninsula and the wider Indo-Pacific region, including Japan and Australia, Western officials say.

Russian President Vladimir Putin is keen to reshape global power dynamics. He sought to build a counterbalance to Western influence with a summit of BRICS countries, including the leaders of China and India, in Russia last week. He has sought direct help for the war from Iran, which has supplied drones, and North Korea, which has shipped large amounts of ammunition, according to Western governments.

Rutte told reporters in Brussels that the North Korean deployment

July-September quarter, down from 4.7 percent annual growth in the previous quarter and short of the official target of “about 5 percent” growth for 2024.

Middle East conflict still roils energy markets, just not as much

PRICES surged briefly this month after Iran sent missiles into Israel, but many experts see the Israeli response over the weekend as measured, potentially ending a cycle of retaliatory strikes from each side, at least for now.

And the Opec+ alliance, made up of members of the producers cartel and allied countries including Russia, have less sway over global prices than say the 1970s, when an oil embargo that followed

latest settlement to succumb to the slow-moving Russian onslaught.

represents “a significant escalation” in Pyongyang’s involvement in the conflict and “a dangerous expansion of Russia’s war.”

US President Joe Biden also called the deployment “dangerous. Very dangerous.”

Defense Secretary Lloyd Austin and Secretary of State Antony Blinken will meet with their South Korean counterparts later this week in Washington.

Singh said Austin and Defense Minister Kim Yong-hyun will discuss the deployment of North Korean soldiers in Ukraine. There will be no limitations on the use of US-provided weapons on those forces, Singh said.

“If we see DPRK troops moving in towards the front lines, they are co-belligerents in the war,” Singh said, using the acronym for the Democratic People’s Republic of Korea, or North Korea. “This is a calculation that North Korea has to make.”

Russia’s Foreign Minister Sergey Lavrov shrugged off Rutte’s comments and noted that Pyongyang and Moscow signed a joint security pact last June. He stopped short of confirming North Korean soldiers were in Russia.

Lavrov claimed that Western military instructors long have been covertly deployed to Ukraine to help its military use long-range weapons provided by Western partners.

Ukraine, whose defenses are under severe Russian pressure in its eastern Donetsk region, could get more bleak news from next week’s US presidential election. A Donald Trump victory could see key US military help dwindle.

In Moscow, the Defense Ministry announced Monday that Russian troops have captured the Donetsk village of Tsukuryne—the

Rutte spoke in Brussels after a high-level South Korean delegation, including top intelligence and military officials as well as senior diplomats, briefed the alliance’s 32 national ambassadors at NATO headquarters.

Rutte said NATO is “actively consulting within the alliance, with Ukraine, and with our Indo-Pacific partners,” on developments. He said he was due to talk soon with South Korea’s president and Ukraine’s defense minister.

“We continue to monitor the situation closely,” he said. He did not take questions after the statement.

The South Koreans showed no evidence of North Korean troops in Kursk, according to European officials who were present for the 90-minute exchange and spoke to The Associated Press about the security briefing on condition of anonymity.

It’s unclear how or when NATO allies might respond to the North Korean involvement. They could, for example, lift restrictions that prevent Ukraine from using Western-supplied weapons for longrange strikes on Russian soil.

Ukrainian President Volodymyr Zelenskyy, citing intelligence reports, claimed last Friday that North Korean troops would be on the battlefield within days.

He previously said his government had information that some 10,000 troops from North Korea were being readied to join Russian forces fighting against his country.

Days before Zelenskyy spoke, American and South Korean officials said there was evidence North Korea had dispatched troops to Russia.

Copp reported from Washington. Associated Press writer Barry Hatton in Lisbon, Portugal, contributed to this report.

the start of the Yom Kippur war in 1973 quadrupled oil prices.

The global supply of oil has been altered radically since then, with the US becoming the world’s largest oil producer. Months of war between Israel and Hamas and Hezbollah, two Iranian proxies, did little to boost prices for Opec and its 12 oil-producing nations. Only the possibility of a direct confrontation between Israel and Iran moved the needle.

It’s the fundamentals

THE long-term expectation is for oil prices to move lower, not higher. That’s because the balance between supply and demand has tilted toward supply, a dynamic that typically deflates oil prices.

In its most recent update on the

energy markets, the International Energy Agency said demand for oil in the first half of this year rose by the smallest amount since 2020. Meanwhile, supplies have continued to increase and the Opec+ alliance has said it plans to release more oil into the market starting in December.

What is going on with energy prices this year?

OIL futures rose quickly to start the year and hit $85 per barrel in April, but it’s been almost all downhill from there and prices at the pump are following along. US gas prices loosely follow crude because the price of oil makes up half the cost of a gallon of gasoline. Between Friday and Monday, during which Israel launched a measured counterstrike in Iran, the price for a barrel of oil tumbled $4.

Opec has tried to establish a floor for oil prices this year with little success.

Saudi Arabia and allied oil producing countries in June extended production cuts into next year hoping to support slack prices that haven’t rebounded even amid turmoil in the Middle East and this year’s summer travel season. At the same time, the US is pumping unprecedented volumes of crude. The US Energy Information Administration expects average daily crude oil production in the United States this year will be 13.2 million barrels per day, and it only expects that production to

grow in 2025.

What’s next for oil and gasoline prices?

A number of energy experts believe that oil prices have peaked this year and will continue to erode, likely meaning more breaks for motorists.

“Limited nature of Israeli strikes against Iran should diminish fears of wider war and shave some of the geopolitical premium on crude oil,” said Tom Kloza, global head of energy analysis with the Oil Price Information Service on a social media post over the weekend.

“Today’s US retail gas average is $3.13/gal with 55 percent of sites priced at less than $3/gal.” Kloza told the AP this month that 2025 looks even worse for oil producers, “with supply almost certainly outpacing demand by 500,000 to 1 million barrels a day.”

Gasoline prices are already in retreat with a week remaining before the US presidential election. The national average price of $3.13 per gallon is down more than 4 cents from last week and it’s down a whopping 37 cents per gallon from last year at this time, according to auto club AAA. In many states, however, prices are far below the national figure. The average price for a gallon in Texas is $2.67 and it’s close to that in many Southern States. Prices in Western states are much higher, including close to $4.60 in California.

Netanyahu open to short truce for hostage release amidst cease-fire talks with Hamas

ISRAELI Prime Minister Benjamin Netanyahu said he’s open to a short truce in the country’s war with Hamas that would lead to the release of a small number of the around 100 hostages still held by the Iran-backed militant group in Gaza.

Netanyahu’s remarks followed a meeting between his top negotiator and senior Qatari and US officials in Doha on Monday, aimed at reviving stalled ceasefire talks following Israel’s killing of Hamas leader Yahya Sinwar this month. Discussions centered on a plan proposed by Egypt, one of the mediators between the warring sides.

Egyptian President Abdel-Fattah El-Sisi on Sunday spoke of a two-day suspension of hostilities and the freeing of four hostages in exchange for a number of Palestinians held in Israeli prisons.

“Then, within 10 days, negotiations will take place” to bring about “a full cease-fire and the delivery of aid” to Gaza, El-Sisi told reporters.

Still, Netanyahu said he had yet to receive such a proposal formally.

“Israel has not received a proposal for the release of four hostages in return for a 48-hour ceasefire in Gaza,” his office said in a statement. “If such a proposal had been raised, the prime minister would have accepted it immediately.”

Israeli public broadcaster Kan cited Netanyahu as telling his cabinet that “we are trying to reach a deal of a few hostages in return for a few days of calm.”

In Doha, negotiators discussed a “new, unified proposal that draws on previous offers while also taking into account the main issues and recent regional developments,”

Netanyahu’s office said. “Talks will continue between the mediators and Hamas to examine the feasibility of negotiations.”

There was no immediate comment from Hamas, which is considered a terrorist organization by the US and European Union.

Long wait

SHOULD a deal be agreed, it would be the first cease-fire in the Israel-Hamas war for about 11 months, when a number of hostages were exchanged for Palestinian prisoners during a short-lived truce at the end of November. Talks have foundered since, and Gaza has been increasingly devastated, with the United Nations warning of “a dire humanitarian crisis.”

The war was triggered when Hamas militants raided Israel in October of last year, killing about 1,200 people and kidnapping 250. Of the remaining 100 or so hostages in captivity, Israel believes about half are dead. More than 43,000 Palestinians have been killed in Israel’s subsequent military campaign.

Hamas has in the past insisted on an Israeli commitment to withdraw all forces from Gaza as part of a staggered release of hostages. Israel has ruled that out, demanding the right to resume fighting, after any truce, until Hamas is disarmed and dismantled.

A Western official briefed on the new Doha talks said the US, Israel and the Arab mediators saw an additional value to the Egyptian proposal in that it would be a chance to prove that Hamas, though leaderless in Gaza, could deliver on a deal. Bloomberg News

ISRAEL’S Prime Minister Benjamin Netanyahu takes part in a ceremony marking the Hebrew calendar anniversary of the Hamas attack on October 7 last year that sparked the ongoing war in Gaza, at the Mount Herzl military cemetery in Jerusalem, Israel on Sunday, October 27, 2024. GIL COHEN-MAGEN/POOL PHOTO VIA AP

PHL relies heavily on imported dairy products amid high domestic demand

THe Philippines is an attractive market for milk suppliers because of its inability to produce even a tenth of its domestic requirements. Despite the continuous increase in demand for milk and dairy products, 99 percent or virtually all of its requirements are purchased from abroad. Local producers only account for one percent of the required volume for consumers and industries.

The Foreign Agriculture Service (FAS) of the United States Department of Agriculture in Manila had projected that consumption of dairy products for this year could grow by 3 percent to 3.5 million metric tons in liquid milk equivalent. The demand for dairy products breached the 3 MMT in LME mark in 2021, when the Philippines was under lockdown to stop the spread of Covid-19. Last year, FAS Manila said some 400,000 metric tons (MT) in LME was added to the country’s dairy demand.

To plug the huge shortfall in domestic output, the Philippines imported 582.32 million kilograms in LME of milk last year. The country’s purchases of imported milk since 2019 have been consistently above 500 million kilograms in LME. The Philippines spent more than $1 billion a year from 2019 until 2023 to quench the thirst of consumers and industries for milk.

FAS Manila noted in a report it published in October 2023 that milk production growth has been slow in recent years because of the inability of the country to expand its dairy herd. The report attributed this to insufficient funding and little investment from the private sector. Investments from the private sector in dairy animals have been low due to the perceived low competitiveness of local milk over the market dominance of low-cost imported powder milk.

As there are not enough dairy animals, processors turn to low-cost imported powder milk instead of tapping domestic producers, who cannot supply the needed volume. Further compounding the problem for local dairy producers is the availability of land, which can affect ruminant animal inventory growth. FAS noted that the average landholding is 1.5 hectares, which is not sufficient for pasture and forage production.

To help make the local dairy sector attractive to private firms, policymakers must consider increasing the government’s investments and tweak policies that have been hampering the growth of the industry. The National Dairy Authority (NDA) had warned that the Philippines will be hard-pressed to reach its dairy production goals if there is no significant increase in the agency’s budget (See “NDA needs bigger budget to hike milk output,” in the BusinessMirror , October 21, 2024). Doubling the agency’s current budget of P500 million, according to its chief, will allow the government to also double milk production.

Instead of allocating huge chunks of the agriculture sector’s budget to rice, policymakers should consider increasing the state’s investments in other subsectors, such as the dairy subsector, which can create jobs. Raising the milk “sufficiency” level of the country to 5 percent will benefit not only local dairy producers, but also the state’s dollar reserves.

Rail-bus transport links

FTHE BUILDER

iLiPino commuters in the urban center mainly rely on bus transportation systems and railways, or a combination of the two, to move them to their place of work and bring them back to their home.

Their daily commuting experience can be efficient and less time consuming if the transition from one mode of transportation to another is seamless.

Our commuters and workers deserve all the conveniences of modern transportation after a hard day’s work. They have household chores left to do after finishing their job and arriving home earlier than usual will ease their burden as parents.

A key development last week will soon provide relief to our weary commuters. I am referring to the agreement of four government agencies to build a massive transportation hub in Quezon City that will top the size of the Parañaque Integrated Terminal Exchange (PITX).

Project HUB, as it called, will rise on a three-hectare Government Service Insurance System (GSIS) property along Elliptical Circle at the

Wnews.businessmirror@gmail.com www.news.businessmirror@gmail.com Printed

corner of Commonwealth Avenue.

The Department of Transportation (DOTr), Metro Manila Development Authority (MMDA) and the local government of Quezon City agreed to build the project.

This rail-bus transport connection will essentially address the problems faced by commuters in transiting to another mode of transportation. Finding the next means of transportation can be an ordeal, especially in the rush hour and rainy days.

The one-stop shop solution, moreover, is in direct response to a directive of President Ferd inand Marcos Jr. to develop an intermodal rail-city bus terminal and depot in the city.

By 2027 as envisioned, the hub will greatly enhance access to the neighboring Philcoa Station of the MRT-7 when it starts operating from the North Triangle Common Station in North Edsa to San Jose del Monte

By Kevin Crowley & William Mathis

eaker crude prices and refining margins are likely forcing four of the five super major oil companies to borrow money to fund $15 billion in share buybacks for the most recent quarter, raising doubts over the payouts’ longterm sustainability.

Exxon Mobil Corp., Chevron Corp., Shell Plc, TotalEnergies SE and BP Plc are expected to post a 12 percent dip in earnings from last quarter to a combined $24.4 billion when they report results this week, according to the average of analysts’ estimates compiled by Bloomberg. That will leave them all—except Shell—unable to cover their dividends and buybacks with free cash flow, which is expected to be 30 percent lower than a year ago.

Share buybacks have become a cornerstone of Big Oil’s strategy as the post-Covid commodities rally spurred record profits and provided an opportunity to court investors betting against a fast energy transition. But with cash flow declining, those shareholder return pledges are now under strain. Crude prices are down more than 20% from this

year’s high even as tensions have escalated in the Middle East. Thirdquarter profits will be half the level of their record highs in 2022 and the lowest since 2021.

“The scales are tilting more bearish for oil prices as we look ahead,” said Noah Barrett, Denver-based lead energy research analyst at Janus Henderson, which manages about $361 billion. “They’ll likely have to lean on the balance sheet if they want to maintain the current pace of buybacks.”

Exxon and Chevron have debtto-capital ratios below 15 percent according to data compiled by Bloomberg, well below their medium-term target range of 20percent to 25 percent. That gives them plenty of room to borrow to fund buybacks.

The European majors have higher debt levels, allowing less room to

City in Bulacan province.

The DOTr with the help of the World Bank will plan, finance and implement the intermodal transport hub, while the MMDA committed a comprehensive feasibility study covering both traffic management and basic engineering design.

The GSIS should be commended for offering its strategic property.

Per GSIS President and General Manager Jose Arnulfo Veloso, the Project Hub will be “a world-class intermodal transport hub that streamlines the bus travel experience, focusing on efficiency, passenger comfort and seamless connectivity with other transport modes including the MRT-7.”

Transport solutions like the Project Hub are what modern cities need to decongest traffic and make the commuting experience of the public more bearable. Over in Davao City, the premier metropolis in Mindanao, the DOTr is initiating talks with the private sector to operate a highpriority bus transport system to be funded by the Asian Development Bank (ADB).

The multilateral bank has committed a $1-billion loan to the project that will include electric and diesel buses covering 29 bus lines connecting Davao through four tiers.

The buses will be supported by infrastructure, such as bus terminal and stops and lanes.

The chosen private partner, meanwhile, will establish and oper-

maneuver. BP warned of rising net debt levels earlier this month despite already having the highest leverage ratio among its peers. The company is also the worst performing Big Oil stock this year, declining 15 percent compared with an almost 7 percent drop in crude.

Borrowing to buy back shares isn’t uncommon in the oil business.

It can boost equity returns when stock valuations are low, avoiding the cyclical buyback trap of only purchasing shares when prices are high.

But a dimming outlook for oil prices next year means the cash shortfall is apt to continue over the longer term.

Opec recently cut its global oil demand forecast for the third time in as many months in part due to China’s economic slowdown. Despite its worsening outlook, the cartel plans to begin boosting supplies by 2.2 million barrels a day in monthly increments starting in December. Meanwhile, non-Opec production growth is strong, particularly in the Americas. The US, Guyana, Canada and Brazil are on course to add nearly 1 million barrels a day in 2025, Barrett said.

Borrowing to fund buybacks

ate an Intelligent Transport System and an Automated Fare Collection System to further enable seamless operations. The transportation system in the Philippines, on a larger scale, is a challenge because of our archipelagic nature. It is usually intermodal consisting of air, sea and road transport. As the ADB notes, intermodal transport systems and their connections to the hinterland play a crucial role in the economic development of our widely dispersed regions, and provide a lifeline access for remote areas with high poverty incidence. Improving road links that facilitate efficient intermodal transport in the country, per the ADB, should be given high priority in the road program. The lack of reliable, safe and efficient transport services significantly hampers the movement of passengers and cargo. The ADB added this limits direct internal and external trade links, as well as tourism. We may be far away from establishing the ideal intermodal transport systems that will enhance the travel experience of our commuters. But taking baby steps and pursuing more infrastructure projects in the medium- and long-term periods will bring us to that dream.

For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

“could be a good use of cash while companies have reasonably strong balance sheets,” Kim Fustier, head of European oil and gas equity research at HSBC Plc, said in an interview.

“The question is, ‘how sustainable will it be?’”

Refining, which often helps keep earnings steady when oil prices drop, is also under pressure. Exxon, TotalEnergies, BP and Shell have all warned of falling margins at their fuel-making divisions globally in the third quarter, as demand for fossil fuels wanes and supply grows.

“Refining’s platinum age” is coming to an end as profit margins have “steadily eroded” since their record highs in 2022, analysts at Bank of America Corp. wrote in a note this month. The worst may be yet to come. Global refining capacity will rise by 730,000 barrels a day in 2025 and by 660,000 barrels a day in 2026 as expansions in Mexico, the Middle East and China offset closures in the US and Europe, BofA said.  Exxon is the best performer among the super majors this year, having climbed 20 percent while adding $130 billion to its market capitalSee “As crude,” A17

Cabangon

Mark Villar

Ukraine allies face limited options over North Korea troops

By Natalia Drozdiak, Andrea Palasciano & Jenny Leonard

RuSSIA’S decision to bring North Korean troops to shore up its war-weary forces has ukraine’s allies realizing they have few options to respond without escalating the conflict even more.

NATO Secretary General Mark rutte confirmed the deployment for the first time following a briefing by high-ranking South Korean officials Monday in Brussels—and called it a “significant escalation” of Pyongyang’s involvement in russia’s war. Over the weekend, US President Joe Biden told reporters “we have options, it depends on what they do.”  North Korea is expected to dispatch some 12,000 troops to the western russian region of Kursk, where Ukrainian forces made gains this year, and additional deployments are possible, according to an official familiar with the South Koreans’ briefing.

Which option to employ may divide the US and its allies. They will have to decide whether to match escalation with escalation over North Korea’s step, which officials say marks a turning point in russia’s war on Ukraine as it broadens into an increasingly global one with more outside actors.

“NATO calls on russia and the DPr K to cease these actions immediately,” rutte told reporters, referring to North Korea by its formal initials, and said the move to send troops to Kursk represents a threat to European security as well as to the Indo-Pacific region.  South Korea is considering whether to send weapons directly to Ukraine, reversing a policy banning lethal aid to the country at war, according to a senior South Korean official. Seoul has previously backfilled the US for shipments it has made.

If some of Seoul’s vast stores of artillery shells started heading directly to Kyiv, alongside Pyongyang’s supplies to russia, that would result in the war drawing upon two of the world’s largest artillery forces.

Lithuanian Foreign Minister Gabrielius Landsbergis said on social media earlier in October that a French idea raised earlier this year to send western personnel to Ukraine “should now be revisited, better late than never.” That idea previously ran up against concerns the trainers and other military personnel could be targeted by Moscow.

Deep strikes

Another option for the US would be to lift its restrictions on Ukraine on long-range strikes inside russia. But that would force a rethink of what’s previously been a red line for Biden’s team.  Washington’s “underlying philosophy about the risk-benefit calculus when it comes to escalation versus advantage for the Ukrainians probably remains about the same,” said r ichard Fontaine, chief executive officer of the Center for a New American Security in Washington.

North Korea to send more troops to Russia, South Korea spies say MOSCOW and Pyongyang are already heavily sanctioned and allied

ization. That’s more than the entire value of BP. Investors will be watching to see whether it can maintain strong production growth in Guyana, where it controls an 11-billion barrel discovery, and in the US Permian Basin, where it recently expanded with the $60 billion acquisition of Pioneer Natural resources Co. Both projects deliver crude for less than $35 a barrel.  Chevron’s stock has trailed its US rival this year after its $53 billion deal to buy Hess Corp. stalled due

Infamous crime boss becomes pivotal figure in India-Canada spat

AOne official said the US and Europe should have done more early on after North Korea initially started aiding Russia with missiles. Allies are also unlikely to be able to take any significant decisions until after the US election on November 5, the official added.

weapons stocks are stretched thin. That leaves few ways in which the US and Europe can impose costs over North Korea’s involvement without escalating the conflict even more.

Defense Secretary Lloyd Austin said it would be a “very, very serious issue” if the North Korean troops participated in the war on russia’s behalf.

Factoring into the allied calculus is the fact that today’s North Korean troops have never seen real combat, potentially limiting their effectiveness in aiding russia.

Another option could revolve around existing conversations at Nato to let allies defend Ukrainian air space from bordering countries like Poland and romania, one person familiar with the discussions said.

One official said the US and Europe should have done more early on after North Korea initially started aiding russia with missiles. Allies are also unlikely to be able to take any significant decisions until after the US election on November 5, the official added.

Kursk Region

US and European officials are still unclear how exactly the North Korean troops will aid russia’s fight against Ukraine. National Security Communications Advisor John Kirby said on Friday that at least a partial deployment to Kursk was likely.

Pyongyang’s troops arrive in russia at a time when Ukraine is also desperate for more manpower and as it tries to maintain its grip on the territory in Kursk to shore up its bargaining power for eventual talks with Moscow. Kyiv is also bracing for the cold season after russia hammered its energy systems for months.

russian President Vladimir Putin is likely to use the North Korean troops to shore up defensive lines within russia in reaction to Ukraine’s Kursk offensive, instead of using russian conscripts, which “helps him avoid a lot of discomfort politically at home,” said Ann Marie Dailey, a policy researcher on russia and military issues at r and. It also means Putin doesn’t have to pull troops from Ukraine’s front line in the east back to defend Kursk, she added.

But in terms of options for the US and Europe, “the tools are the same tools that have been there all along,” including providing more military aid or tapping into underlying frozen russian assets, Fontaine said. With assistance from Justin Sink, Patrick Donahue and Alberto Nardelli /Bloomberg

to an arbitration battle with Exxon. Chief Executive Officer Mike Wirth will be keen to show its delayed and over-budget Tengiz project in Kazakhstan is on track for completion next year and provide an update on its Israeli gas operations, which have lost production time due to the ongoing conflict with Iran and its allies.  Investors will also be watching for the “continued normalization” of trading earnings, according to HSBC’s Fustier. It could become a “material headwind” for BP and Shell, which have historically derived large profits from the business, she said. Bloomberg

By Sudhi Ranjan Sen & Dan Strumpf

S diplomatic relations fray between India and Canada over the assassination of a Sikh separatist leader, the spotlight is now turning to one of India’s most notorious gangsters.

Canadian police earlier this month accused Lawrence Bishnoi of colluding with Indian government agents to kill and harass members of the Canadian Sikh diaspora. That comes in the wake of Prime Minister Justin Trudeau’s allegations last year that New Delhi was involved in the killing of a Canadian citizen—claims that India has strongly denied. Trudeau’s government has upped the stakes in recent weeks, expelling India’s top diplomat in Canada after he refused to be questioned about the case.

Bishnoi’s alleged involvement highlights what Canada says is the long arm of India’s criminal underworld and its capacity to carry out violence far from home. Bishnoi, in his early 30s, heads “one of the most feared terror syndicates” in South Asia, according to India’s federal anti-terrorism body. His gang, described in Indian court filings, numbers around 700 and includes suspected militants and drug runners in Canada, the US and the United Arab Emirates.

Trudeau’s government says Bishnoi coordinated with Indian officials to target dissidents overseas, specifically Sikh activists living in Canada who support the creation of an ethno-religious homeland in India called Khalistan. Canada had been investigating India’s government involvement in the gunning down last year of Hardeep Singh Nijjar, a Canadian separatist activist who is considered a terrorist by Prime Minister Narendra Modi’s government. New Delhi has repeatedly dismissed allegations that officials were involved in the attack.

In the past, Bishnoi has been linked with Sikh militant groups, an irony considering he’s now accused of targeting Canadians campaigning for Khalistan. He and his gang

have had strong connections with Sikh separatist elements, some of who operate from Pakistan, court documents show. India’s federal antiterror body also alleged that Bishnoi and his associates were involved in the 2016 jailbreak of a suspected Khalistani separatist and that they attacked a police facility in 2022 in the northern Punjab state with sophisticated weapons, including rocket-propelled grenades.

Bishnoi has spent about a decade behind bars in India, convicted for several crimes stretching back to as early as 2010, when he was charged for trespassing with the intent of assault with weapons, according to court documents.

He’s built a social-media presence by airing grievances with famous Punjabi singers, Bollywood actors and Indian politicians. Over the years, videos of him on YouTube and Instagram made by supporters have garnered hundreds of thousands of likes.

Canada allegations

TEr MINDEr Singh, a lawyer who’s represented Bishnoi in Punjab, declined to comment on Canada’s accusations. “There has been no proper investigation into these allegations,” he said. “It’s difficult to explain how a man in prison is organizing hits or extorting money.”

Canada hasn’t yet released evidence connecting Indian officials to Bishnoi. Trudeau has said his government only went public with the accusations after a lengthy behindthe-scenes effort to address the matter diplomatically was rejected by Indian officials.

In its rebuttals, India has underlined the dearth of information in the public domain. r andhir Jaiswal, a spokesman for the Ministry of External Affairs, said New Delhi also

Bishnoi’s alleged involvement highlights what Canada says is the long arm of India’s criminal underworld and its capacity to carry out violence far from home. Bishnoi, in his early 30s, heads “one of the most feared terror syndicates” in South Asia, according to India’s federal anti-terrorism body. His gang, described in Indian court filings, numbers around 700 and includes suspected militants and drug runners in Canada, the US and the United Arab Emirates.

has a track record of distancing itself from Bishnoi, including asking Canada to extradite members of his gang residing in the country.

“We informed Canada about them several years ago and recently as well,” Jaiswal told reporters earlier this month. “There has been no response from Canada.”

Even though Bishnoi is currently jailed in the state of Gujarat, some Indian officials still believe he’s capable of carrying out criminal activity. India’s federal anti-terror body—the National Investigative Agency—told a trial court last year that Bishnoi is so adroit at operating from inside his cell that he hasn’t felt the need to apply for bail.

Criminal syndicate BOr N in Dutranwali—a small town in Punjab near the India-Pakistan border—Bishnoi grew up in a relatively prosperous family, according to Indian police officials, who asked not to be identified because they weren’t authorized to discuss ongoing investigations. Court documents peg Bishnoi’s first brush with the law to his time as a college student, when he shot a political rival.

Bishnoi started building his criminal syndicate in 2013, according to Indian court filings. By his early 20s, he was already named in nearly a dozen criminal cases. In 2022, Bishnoi claimed responsibility for the death

of famed Punjabi singer Sidhu Moose Wala, a development that catapulted him to the front pages of Indian newspapers. The Bishnoi gang also took credit on social media for the shooting last month of the politician Baba Siddique.

One Indian police officer, who asked not to be named to discuss classified information, said Bishnoi loves his carefully cultivated image as a “patriotic gangster” and dark hero who takes to crime to right wrongs. Bishnoi is a gun-for-hire—killing, extorting and threatening for profit, the officer said.

Connections between India’s political establishment and local criminal groups—including Bishnoi’s— aren’t unheard of. Last December, the Delhi police arrested a former Indian intelligence agent for allegedly extorting money from a businessman on behalf of Bishnoi. The agent, Vikas Yadav, is also wanted in the US for trying to assassinate an American citizen active in promoting a breakaway state for Sikhs, who mostly populate Punjab in northern India.

Yadav’s lawyer, r K Handoo, said the case was “false and charges baseless.”

Under previous governments, high-level committees have warned about a nexus between the underworld and politicians, including coordinating attacks in South Asia. What’s new, however, is potentially striking in countries like the US, Canada and Australia—wealthy Western democracies that consider India a strategic partner.

As Canada and India continue to trade barbs, Modi has refrained from publicly commenting. But during election rallies, the Indian prime minister has credited his administration with pursuing and eliminating alleged criminals in other countries. It’s a topic former Indian premiers usually avoided addressing.

“Under this strong government, our forces have been killing terrorists on their own turf,” Modi said at a recent political rally in the region of Jammu and Kashmir. Bloomberg

Investing in Gen Z: Crucial for a sustainable future

By Astrid Nørgaard Friis

The next generations, Gen Z and Gen Alpha, are being dubbed the anxious generations, for good reason—the future burden of today’s headlines falls on their shoulders. But look beyond the hype around how their mental health is suffering and instead talk to the new graduates who are working on groundbreaking projects on behalf of governments, companies, and charities. It’s not just anxiety that is driving them to make a significant difference. It’s hope.

World Cities Day, on October 31, commemorates the UN’s ambition to reduce inequality in cities. Urban environments offer access to greater opportunities and services but are also home to the starkest representations of inequality in the world. Natural disasters highlight and exacerbate this inequality when access to basic resources is threatened. The theme of 2024’s World Cities Day is “Youth leading climate and local action.” It calls for local governments to invest in youth programs that accelerate youth empowerment and education in designing and future-proofing urban environments.

It is my belief that 2024 is also the year that all institutions, including and especially businesses, should invest in youth in ways that make a tangible difference. We currently have the largest youth generation in history, with over 1.8 billion young people aged between 10 and 24. Their potential to accelerate change is immense. Investing in new perspectives and future leadership

I AM fortunate to see first-hand the positive impact of supporting youth development in the crucial areas of water and climate change.

In collaboration with the Inter -

national Water Association (IWA), Grundfos sent 13 young water professionals from around the world to the UN 2023 Water Conference in New York. The delegates later came together to gather their learnings. They contributed to a publication about how the water sector could benefit from integrating young people in its strategy to meet its 2030 Sustainable Development Goal of achieving clean water and sanitation for all and shape the future of the water industry. Some of them told me the fellowship was “life-changing,” thanks to the new perspectives and cultural exchanges it facilitated. One told me he felt the urge to “pay back” after the experience.

Meanwhile the company benefited from their fresh perspectives, innovation, global perspectives, and tech capabilities. We also ensured the wider water sector remains dynamic, resilient, and capable of meeting both current and future challenges.

We are now recruiting another 14 young water professionals as part of our second collaboration with IWA, which is focused on building a deeper understanding of city resilience to floods and droughts and developing local-led solutions to promote city resilience

Businesses that invest in the next generation through capacity building and bringing youth to the brainstorming and decisionmaking table will also benefit hugely. Not only can the next generation positively contribute to mitigating the impact of pressing issues like climate change, but they can also prevent the erosion of public trust in the business.

and adaptation. Candidates will be selected by a committee that includes C40 (the global network of mayors of the world’s leading cities united in confronting the climate crisis) and will be hosted at a side event during C40’s Mayor Summit before COP30 next year.

Youth engagement must be meaningful and integrated ESG leaders must ensure their environmental programs are part of a long-term strategy that involves the whole company. The public is quick to call out token gestures and bold statements that lack a wider strategy as greenwashing. Companies engaging youth should be applying the same lens. Without a long-term youth engagement strategy to link to, a one-off token gesture could be seen as opportunistic, or even “youth washing.”

Last year, the UN released guidelines on meaningful youth engagement in policy making and decision-making processes. The report states that while youth have become a driving force of societal change when it comes to climate change, racial justice, gender equality and dignity for

all, they are almost invisible at a public policy-making level. The UN’s 11 principles for youth engagement encourage quality over quantity. Engagement must be integrated, as opposed to ad-hoc. It must also be transparent, informed and crucially, adequately funded.

“When youth engagement strays from these principles, it risks becoming tokenistic and can result in decision-making that is divorced from young people’s lived realities, expertise and solutions. As a result, trust and confidence in public institutions are eroded,” the report states.

There is no doubt the local governments that involve young people in their ideation, research, and decision-making as part of this year’s World Cities Day initiative will benefit from the drive, creativity, and hope of their local youth. Businesses that invest in the next generation through capacity building and bringing youth to the brainstorming and decision-making table will also benefit hugely. Not only can the next generation positively contribute to mitigating the impact of pressing issues like climate change, but they can also prevent the erosion of public trust in the business.

Having the privilege of being involved in the IWA-Grundfos fellowship program has shown me the world has been quick to misjudge the power of Gen Z and Gen Alpha. Investing in their leadership should be a cornerstone of all businesses’ ESG agenda, if not their overall business strategy.

SC issues TRO on transfer of PhilHealth funds to BTr

TDOF SAYS TO COOPERATE WITH SC ON PHILHEALTH FUND CASE

according to Recto.

By Reine Juvierre S. Alberto @reine_alberto

TBy Joel R. San Juan @jrsanjuan1573

HE Supreme Court on Tuesday is-

sued a temporary restraining order (TRO) enjoining the further transfer of the P89.9-billion unutilized funds of the Philippine Health Insurance Corporation’s (PhilHealth) to the national treasury to bolster the government’s unprogrammed appropriations.

The TRO was issued at the regular en banc session of the 15-man High Tribunal, according to SC spokesman Camille Sue Mae Ting.

“The SC issued a temporary restraining order [TRO] to enjoin the further transfer of PhilHealth funds to the national treasury,” Ting announced.

The TRO covers the last tranche of PhilHealth’s unutilized funds amounting to P29.9 billion which is supposed to be remitted on November 24.

Ting also acknowledged that the Court may still tackle and decide on the petitioners’ plea for the issuance of a status quo ante order (SQAO) seeking the return of the P60 billion that had previously been transferred by PhilHealth to the national treasury.

SQAO directs the parties to a case to maintain or keep “the last actual peaceful and uncontested situation that precedes a controversy.”

“In the petitions they did pray for the issuance of status quo ante order. It’s still possible but the Court has not acted on that as of now,” Ting said when asked on the possibility that the Court will still tackle the plea for an SQAO.

The first tranche of PhilHealth’s unused funds amounting to P20 billion was released on May 10. A second transfer was made on August 21 amounting to P10 billion.

The third tranche, for P30 billion, was transferred to the national treasury last October 16.

Consolidation of petitions

MEANWHILE , the Court also ordered the consolidation of the petition filed by 1Sambayanan Coalition composed of legal luminaries, priests, students and several cause-oriented groups with two petitions earlier filed assailing the constitutionality and legality of the fund transfer.

These two petitions were filed by Senator Aquilino Pimentel III et al., Bayan Muna.

The petitions have been set for oral arguments on January 14, 2025.

The Court also directed the respondents named by 1Sambayan Coalition to comment on the petition within a non-extendible period of 10 days.

The respondents in the three petitions are Finance Secretary Ralph Recto, House Speaker Martin Romualdez, Senate President Francis Escudero, Executive Secretary Lucas Bersamin and PhilHealth president Emmanuel Ledesma Jr.

The petitions sought to declare unconstitutional DOF Circular No. 003-2024 directing the transfer of unused subsidies from governmentowned and -controlled corporations, specifically PhilHealth, to the national treasury in a bid to bolster the government’s unprogrammed appropriations.

DOF Circular No. 003-2024 was issued in line with Section 1 (d) of XLIII of the Unprogrammed Appropriations in General Appropriations Act of 2024, which is also being assailed in the three pending petitions before the Court for being an “inserted” provision.

The petitioners argued that the implementation of the DOF circular

and Section 1 (d) of XLIII of the GAA 2024 threaten the basic constitutional right of the people to health.

They stressed that the series of acts of Recto to transfer PhilHealth funds to the national treasury constitute technical malversation and/ or plunder.

The petitioners said all the requisites of technical malversation are present in the case, noting that the person involved (the DOF secretary) is an officer accountable for public funds and there was diversion of PhilHealth funds to another use other than that for which PhilHealth funds were appropriated

The respondents may be held liable for plunder, according to the petitioners, when they “amassed, accumulated or acquired ill-gotten wealth through a combination or series of misappropriation, conversion, misuse or malversation of public funds or raids on the public treasury…”

The petitioners argued that Section 11 of the Universal Health Care (UHC) Act prohibits the transfer of PhilHealth reserve funds back to the national treasury or to any government agencies unless the said funds were abandoned or its purpose has already been accomplished.

Aside from the PhilHealth fund transfer issue, Bayan Muna sought the nullification of the P449.5-billion budget increase in the 2024 unprogrammed appropriations for violation of Article VI, Section 22 of the Constitution, which requires all laws to go through required legal proceedings unless “there is a public emergency and calamity.”

They also asked the Court to declare as void the Certification of Urgency for House Bill No. 8980 or the General Appropriations Bill absent

the existence of any calamity or emergency under Article VI, Section 26(2) of the Constitution.

The group also asked that the Presidential Certification, the amount of P449.5 billion inserted in the unprogrammed appropriations under the 2024 GAA, and Section 1 (d) of XLIII of the Unprogrammed Appropriations in the 2024 GAA be declared void.

SolGen’s defense

THE Office of the Solicitor General has sought the dismissal of the petitions insisting that the transfer of PhilHealth’s excess funds is not contrary to the provisions of the Constitution.

Sought for comment on the Court’s TRO, Solicitor General Menardo Guevarra said: “ It appears that the TRO is limited to PhilHealth funds only. We will respect the TRO.”

Former SC Associate Justice Antonio Carpio also welcomed the TRO and urged Malacañang to return all of PhilHealth’s funds earlier transferred to the national treasury.

“This saves the poorest of the poor Filipinos, numbering tens of millions, whose only source of life-saving medicine is the PhilHealth,” Carpio said.

Meanwhile, former Bayan Muna Congressman Neri Colmenares deemed the issuance of a TRO as a “significant victory” for PhilHealth beneficiaries.

“The transfer of these funds would have jeopardized the benefits of countless Filipinos relying on PhilHealth for essential health services. This decision prevents a grave injustice from occurring,” Colmenares said.

“Those funds transferred to the national treasury but not yet spent in unprogrammed funds projects must be returned to PhilHealth,” he added.

Meralco to ERC: Release decision on 5th rate reset

By Lenie Lectura  @llectura

THE Manila Electric Company has strongly urged the Energy Regulatory Commission (ERC) to release its decision which supposedly allowed it to forgo the fifth regulatory reset of Meralco’s distribution rate, covering the period 2022-2026, saying this will result in at least P16 billion worth of refund to its more than 7 million customers.

“In our initial estimate, for at least three years, that would be around 16 billion pesos. So, that’s a big, big, big relief for the consumer. So, that’s why we want to have that closure already. So we’re asking ERC, you know, to come out already, to release already the decision. Anyway, it has been announced publicly,” said Meralco Senior Vice President and Head of Regulatory Management Atty. Jose Ronald Valles. He was referring to earlier pronouncements by then ERC chairperson Monalisa Dimalanta that the commission en banc decided to allow Meralco to maintain its average current rate of P1.35/kilowatt hour (kWh) until 2026 and reapply for the 6th regulatory period (6RP) for another reset. However, the ERC has yet to release this supposed decision.

A rate reset is a periodic process conducted by the ERC to review and adjust distribution rates charged by utilities like Meralco. It ensures rates reflect the actual costs of delivering electricity, considering factors such as inflation, operational expenses, and the Weighted Average Cost of Capital (WACC). Meralco’s current WACC is 14.97 percent, and it has not been updated since 2015. Once the decision is out, Valles said Meralco would immediately seek the commission’s go-ahead to refund the Average Weighted Actual Tariff (AWAT) in excess of P1.3522/kwh covering the entire 5RP.

“We anticipate that once ERC has released the decision on our 5RP, treating it as lapsed period and confirming that our rate for 5RP is pegged at P1.3522/kwh

instead of P1.57/kwh that Meralco has applied for, the ERC will direct Meralco to refund the AWAT in excess of P1.3522/ kwh covering the entire 5RP,” said Valles in a text message on Wednesday.

Meralco utility economics head Lawrence Fernandez said the AWAT changes each month based on the share of residential, commercial, industrial consumption.

He said the refund will be based on Meralco’s actual weighted average rate (AWAT) vs the approved Maximum Average Price (MAP) of P1.3522/kWh. If the share of commercial/industrial is bigger than usual, the AWAT will go down. If the share of residential is bigger, the AWAT will go up.

“More often than not, residential has a large share, so that the AWAT is usually higher than the MAP. We need to refund the difference. Because in the approved MAP, there is an assumption on the share of sales of residential/commercial/industrial. If the actual deviates from what was assumed, there is a true-up/reconciliation.

“In theory, it is possible to refund, and DU can also collect. But given the last few years, especially when the climate is warmer than usual like the recent El Niño, the residential share is large,” explained Fernandez. In order to calculate the exact refund for the lapsed years under the 5thRP, Meralco would have to review the AWAT from July 2022 onwards.

“Due to its sales mix, especially in times when Meralco residential customers consume more electricity than other customer classes, Meralco’s AWAT exceeds Meralco’s current final distribution rate of P1.3522/kwh.

“We estimate the amount of refund to be at least P16 billion for the four-year period of 5RP. Note that the current rate of Meralco is lower than the P1.3810 previously authorized by ERC. This rate was reduced by almost three centavos per kwh after a thorough review by ERC.

“Had ERC approved Meralco’s proposed P1.57/kwh rate for 5RP during a reset proceeding, the amount of AWAT refund

would have been zero to nil,” Valles further explained via Viber.

The best way to move forward, according to Valles, is for ERC to release the order which will then trigger the filing of the refund application and eventually prepare for the filing of the 6RP for the years 2026-2030.

“We don’t want the 6RP to be delayed again. So we want to prepare this early for the 6RP because we have a full 21-month period under the rules to prepare for the reset. The 6th RP will commence in July of 2026. So, if you count back, that’s 21 months. We should be preparing this October.

So, if the decision on the 5RP will continue to be delayed, then, consequently, the 6RP, we will be delayed again. So, we’re trying to avoid that,” said Valles.

Sen. Win protests

MEANWHILE , Senator Sherwin Gatchalian said that without the rate reset, Meralco’s charges may not reflect the current economic conditions, potentially resulting in increased costs for households and businesses.

“As consumers, we are expressing our opposition to the ERC’s decision to forego the 5th regulatory reset of Meralco’s distribution rate. The rate must go through the resetting process,” Gatchalian had told ERC officials at a recent Senate hearing on the proposed 2025 budget of the Department of Energy and its attached agencies, including the ERC.

“We did this to the National Grid Corporation of the Philippines, so we must apply the same rules to Meralco. Given its market power and status as a natural monopoly in NCR and nearby areas, Meralco has to undergo a rate reset as well,” Gatchalian said.

“That is not fair for consumers. Meralco cannot maintain 14 percent for the next four years. Historically, the reset was purely an extension. There really is no on-time reset, is there? Maybe it was only in 2001 but after that, it was all delayed,” he pointed out.

The vice chair of the Senate Committee on Energy, Gatchalian urged the ERC to come up with a study enabling the regulatory body to catch up with its review of rates of various

HE Department of Finance (DOF) will fully cooperate with the Supreme Court following the latter›s issuance of a temporary restraining order (TRO) on the remittance of state coffers› excess funds to the National Treasury.

In a statement on Tuesday, Finance Secretary Ralph G. Recto said the DOF respects the SC’s intervention and will fully comply with its orders.

“We give our full cooperation to the Supreme Court as we look forward to the opportunity to shed light on the issues presented during the oral arguments. With this honorable platform, we trust that all issues will be addressed once and for all,” Recto said.

The DOF issued Memorandum Circular No. 003-2024 earlier this year, ordering the Philippine Health Insurance Corporation (PhilHealth) and Philippine Deposit Insurance Corporation (PDIC) to remit P89.9 billion and P110 billion, respectively, to the Treasury.

The funds will be used for health, social services and infrastructure projects under unprogrammed appropriations (UA) in the 2024 General Appropriations Act (GAA) amounting to P203.1 billion.

Recto said if these projects will be financed through additional borrowings, this would only increase the deficit ratio to 6.4 percent from 5.6 percent in 2024. The debt ratio will also rise to 61.4 percent from 60.6 percent this year.

The redirection of excess funds would also generate up to P24.4 billion in additional revenues, increase economic growth by 0.7 percent and create thousands of jobs,

The fiscal strategy, however, faced criticism among medical groups, lawmakers, the Church, former Cabinet secretaries and high-ranking officials, as such.

Recto said the DOF’s move to sweep the “idle, unused and excess” funds of state-run corporations is within the law, mandated under Republic Act No. 11975 or the 2024 GAA, which was approved by Congress.

“We reiterate that before proceeding with the utilization of GOCC idle funds, our agency exercised due diligence and consulted extensively with the government’s legal experts,” Recto said. The DOF consulted the Governance Commission for GOCCs, the Government Corporate Counsel and the Commission on Audit. “These efforts were undertaken to ensure full compliance with our laws,” he added.

Further, the DOF said legal opinions had noted that PhilHealth’s unutilized government subsidies are not part of its reserve funds, nor income that is being restricted by the Universal Health Care Act to be used by the national government as a general fund.

Meanwhile, PhilHealth said on Tuesday it respects and will abide by the SC’s decision to halt its transfer of funds.

“We remain focused on our mission to provide all Filipinos with adequate financial protection against health risks through better and responsive benefit packages and availment policies that ensure greater access to healthcare services whenever and wherever they need them most,” it said.

PhilHealth President and Chief Executive Officer Emmanuel R. Ledesma said earlier that the corporation will remain on track with its targets despite the transfer of excess funds.

stakeholders in the power sector.

“Why require a rate reset if the ERC isn’t even conducting it? The regulator itself is not keeping up with the pace,” said Gatchalian, who has filed a bill to establish the ERC’s charter and strengthen its authority to regulate energy stakeholders.

The ERC, as of press time, has yet to comment.

The supposed decision on Meralco’s lapsed 5RP was made on August 21, 2024, according to Dimalanta, who was suspended by the Ombudsman on August 27, 2024.

“One of my realizations from this experience is that we can improve our measures for transparency. For instance, after each commission meeting, we can already post or publish our action taken on each agenda item so that stakeholders will already know the movement in their cases even before the actual ruling is issued.

This is the same as what the Supreme Court is doing now in many of their cases,” she said.

After deliberation, it takes months before the commission can draft the decision. Thereafter, it needs to be circulated among the commissioners for their signature. “I am the last to sign and I rarely make comments anymore because by that time it gets to me, it already has the clearance of all four commissioners,” Dimalanta earlier said.

Dimalanta clarified that she was actually one of two dissenters who opined that the rate reset of Meralco should be reviewed and settled before the 6RP.

“On August 21, the Commission already voted, 3-2, and was part of the two that dissented, along with Commissioner Maceda. Our dissent vote was that there needs to be a proper reset for the 5RP, which is the 2022 to 2026 period of Meralco.

“It is the job of the regulator to do the reset. There hasn’t been a reset in the last 10 years, so why should we let go of our job to reset for a period that is yet to lapse,” Dimalanta had said.

The ERC is now chaired by officer-incharge Jesse Hermogenes Andres.

High health costs, access gaps mar UHC goals

By Bless Aubrey Ogerio

DESPITE strides in expanding health service coverage, high out-of-pocket costs and regional disparities continue to impede equitable healthcare access for Filipinos.

World Bank Senior Economist Wei Han on Tuesday emphasized that even if the country has laid down crucial universal health care (UHC) policies, including the expanded Konsulta Package and No Balance Billing policy, real progress requires action.

“Most policies are already in place, the key game changers are taking actions to implement these policies on the ground and monitoring evaluation systems to track the implementation,” Han said at the 8th PhilHealth Studies Forum at the Citadines Hotel in Pasig City.

Citing a report from the World Health Organization and World Bank, Han noted that the Philippines scored 58 on the UHC service coverage index, or below the global average of 68.

Further, the proportion of Filipinos facing catastrophic out-of-pocket health spending, which is defined as costs exceeding 10 percent of household income, is at 4.3 percent. Even if this is lower than the global average of 13.5 percent, this figure may obscure unmet healthcare needs, particularly in underserved areas like Mindanao.

The Philippine Statistics Authority’s 2023 National Health Accounts also showed

a decrease in out-of-pocket health spending from 52 percent in 2014 to 44 percent in 2023. Still, this remains higher than the 34-35 percent average among middleincome countries.

Ideally, the economist said, out-ofpocket costs should not exceed 15 percent to 20 percent of total health expenditures, but this is a target only a few middleincome nations have achieved, such as Zimbabwe, Turkey, Thailand, South Africa, and Colombia. Regarding regional disparities, data from the Philippine Institute for Development Studies indicate that all regions in Mindanao reported lower levels of catastrophic health spending, which Han attributed to access issues rather than affordability. In contrast, regions in Luzon outside Metro Manila reported higher levels of catastrophic spending. To address these issues, Han underscored the need for stronger monitoring and evaluation systems. Her recommendations include expanding primary healthcare services, enforcing the No Balance Billing policy, broadening the Konsulta Package, regulating medicine prices, and increasing public awareness of healthcare entitlements. “The health sector in the Philippines, like in other countries, does not only have a lack of data but lacks the use of the data. Therefore, health data from the government should be developed and implemented to facilitate evidence-based decision-making,” she said.

TURNING TIDES In the foreground, a Ferris wheel stands tall against the bustling activity in Manila Bay, where a flotilla of dredging ships and equipment are hard at work. The continuous dredging efforts by a consortium of companies aim to transform portions of the bay into commercial land. BERNARD

Editor: Jennifer A. Ng

Consumer segment boosts earnings of CIC in Jan-Sept

By VG Cabuag @villygc

ConCepCion industrial Corp. (CiC), a manufacturer of refrigerators and air-conditioning units, said its income almost doubled to p554.66 million in January to September from the previous year’s p288.4 million.

The company also said its revenues during the period rose to P13.6 billion from last year’s P10.85 billion.

For the third quarter alone, the company said its income was up by more than half to P218.2 million from the previous year’s P139.04 million. our results reflect CIC’s resil-

ience and effective execution in a challenging market. e arnings growth significantly outpaced sales, underscoring our operational adaptability,” r ajan Komarasu, the company’s CFo and Coo, said. revenues for the period, however, were almost flat at P3.79 billion from the previous year’s P3.62 billion.

Along with its associate Concepcion Midea Inc., the company had a 12-percent growth, with net sales of P5 billion.

“The consumer segment performed well, particularly in refrigeration and appliance categories, driving a 12-percent increase in consumer net sales,” the company said.

In contrast, the commercial segment saw a decline of 8 percent, primarily due to fewer large projects, though partially offset by strong air-conditioning equipment sales through the contractor network.

Year-to-date net sales, including Midea, jumped by 31 percent to P17.7 billion.

o ur third quarter results reflect our proactive market strategies and extensive product portfolio. We were able to meet heightened demand for appliances, especially during peak seasons, and provided

critical solutions across sectors.

As we enter fourth quarter, we are well-prepared for seasonal demand and remain focused on building momentum for the coming year,” Ariel Fermin, the company’s Ceo, said.

Last July, Komarasu said the company achieved “a significant milestone” in the second quarter.

“We have surpassed our prepandemic performance and set new record for sales and earnings. The hot weather worked in our favor, allowing us to solidify our market position and demonstrate the effectiveness of our strategies, delivering on our commitments to stakeholders.”

Last year, the company recorded consolidated earnings of P667.3 million, 86 percent higher than the P358.06 million posted in 2022.

Net sales reached P14.7 billion, an 11-percent growth from the previous year’s P13.17 billion.

‘Homeqube to build affordable houses’

HoMeqUbe Pte Ltd., a local house construction firm registered in Singapore, said it is aiming to build 1,000 houses worth at least P1 billion in the Philippines in its first year of operations. each housing unit costs about P1 million, Homeqube founder and Ceo Jose Paolo Calma said in a press briefing. He said the company wants to address the housing crisis in the Philippines by making homebuilding “faster and affordable” for millions of Filipinos with an all-in-one platform.

Homeqube is using blockchain and artificial intelligence to disrupt the traditional home development business model. The country has about 6.5 million in residential

spaces backlog, with only 140,000 houses produced each year.

He said the company is registered in Singapore to easier establish their global presence, since they plan to expand in Indonesia and brazil in the coming years.

“Sustainable development has become a common talk among government and business leaders worldwide, and we are bringing that concept in the Philippine property sector with our homebuilding committed to regenerative living,” Calma said.

He said the abundant use of steel and cement for homebuilding, which is too bulky and complex for transportation, leads to elevated land prices as demand shoots up with more people moving to urban areas.

Homeqube was able to assemble

houses that are priced from P1 million for a 35-square meter, onebedroom unit, to P15 million for a 400-sq.m., six-bedroom unit.

As long as the buyer has land, a home can be erected for as low as P1 million, he said.

Tapping the usual building materials also exposes homeowners to a longer lead time of about 18 months, and more expensive project costs due to logistics and middleman fees, according to the company.

To address this, the company created an online home delivery service. It covers the permitting phase, the acquisition of materials over two to five months and a 30-day installation and delivery.

Homqube has invested $1 million to put up a plant in Pampanga

which will produce pre-fab materials that would allow easy configurations and adaptations, veering away from large-scale and costly renovations.

Using glass fiber reinforced polymer (GFr P), Homeqube is said it is “bullish about making strides in the industry” as it produces lower carbon emissions, cuts the environmental footprint of building projects, and is the best choice for assemble-to-order manufacturing strategies.

“While the GF r P is lightweight, it is tough and can withstand harsh weather conditions, including 310 kilometers per hour of strong winds. The material is also fireproof, termite proof, and rust-proof, making it transportable via boat, allowing island habitats to sprout.” VG Cabuag

more 1AV shares

By Lorenz S. Marasigan @lorenzmarasigan

Ceb U Air Inc. (C eb ), the parent company of Cebu Pacific, has acquired a majority shareholding in 1Aviation Groundhandling Services Corp. (1AV) through a debt-to-equity conversion.

According to a disclosure to the stock exchange, Ceb said it signed a Deed of Assignment of Credit and Subscription with 1AV, agreeing to convert P113 million in debt into equity.

This arrangement grants Ceb an additional 1,130,000 shares in 1AV, each valued at P100, increasing the carrier’s stake from 40 percent to 60 percent and establishing it as the majority shareholder.

The debt-to-equity conversion is part of an agreement among 1AV’s stockholders to convert P150 million in loans into equity.

C eb held the largest share of this debt at P113 million, while coshareholders Philippine Airport Ground Support Solutions Inc. (PAGSS) and businessman Jefferson G. Cheng held a combined P37 million.

“As a majority owner, Ceb can integrate 1AV’s services more seamlessly with its operations, creating synergies that could reduce operational costs and improve service quality, particularly in groundhandling and logistical support,” the disclosure read.

established in 2018, 1AV is one of the Philippines’s leading groundhandling providers, operating in 34 airports nationwide and employing over 6,200 staff.

The acquisition is still subject to approval by the Securities and exchange Commission (SeC).

Seat sale IN another development, Cebu Pacific said it is launching a Piso Sale in celebration of its newly expanded domestic network from Iloilo.

The promotional sale runs until october 31, allowing travelers to book direct flights from Iloilo to Tagbilaran, Daraga (Legazpi), and Dumaguete at a one-way base fare of just P1 (exclusive of fees and surcharges). This travel opportunity covers flights from December 1, 2024, through May 31, 2025.

Starting December 1, Cebu Pacific will offer daily flights between Iloilo and Tagbilaran, followed by the Iloilo-Daraga (Legazpi) route on December 2, with three flights per week.

The Iloilo-Dumaguete route will open on December 3, also with thrice-weekly service. Cebu Pacific’s latest routes aim to connect travelers with the underwater beauty of Tagbilaran, the iconic Mayon Volcano near Daraga, and Dumaguete’s renowned sans rival cakes and silvanas.

In addition to these new domestic routes, Cebu Pacific resumed its direct flights between Iloilo and Hong Kong on october 27, making it the only airline currently offering international flights from Iloilo International Airport. The airline is also reconnecting Iloilo to more destinations with resumed direct flights to Tacloban and the launch of a new route to Zamboanga, which commenced on october 28. Starting November 25, Cebu Pacific will restore its non-stop flights from Iloilo to Singapore, enhancing international connectivity from the region.

Cebu Pacific currently operates across 35 domestic and 26 international destinations.

Boeing raises $21B to repair balance sheet Customer connects to

UDS in Iloilo

More electric and Power Corp. (More Power) has successfully connected its first customer to the Underground Distribution System (UDS) of the r azon-led power distribution utility firm in Iloilo City.

The UDS project is a P96-million investment that aims to transfer overhead power lines in a one-kilometer stretch of Iloilo City’s business district to an underground system. The connection involved a series of checks and tests to ensure the system was functioning correctly and safely. More Power said it utilized Horizontal Directional Drilling (HDD), a cutting-edge method for installing underground utilities and plumbing. This approach ensured minimal disruptions in the downtown area, with construction activities conducted from 7 PM to 7 AM.

“Today marks a historic milestone not just for More Power but for the entire Iloilo City community. We are proud to see our vision for a modernized and resilient power distribution system becoming a reality,” said company president r oel Castro. Lenie Lectura

ETer NAL Gardens, one of the country’s premier memorial park developers, is gearing up to host thousands of visitors for this year’s Undas commemoration. As the nation prepares to remember and honor departed loved ones, eternal Gardens Management says that its parks are fully prepared to provide a safe, meaningful, and enjoyable space for families during this special occasion.

eternal Gardens Management is in close coordination with the respective local government units to maintain peace and order throughout the commemoration period. The safety and well-being of all visitors remain the top priority, and comprehensive

measures are in place to facilitate a secure environment.

Numeriano b r odrin, President and Coo of eternal Gardens, expressed his confidence in the park’s readiness, stating, “We understand the importance of Undas for Filipino families, and we have made every effort to ensure that our parks are well-prepared to accommodate visitors for this meaningful occasion.”

In addition to ensuring the safety of visitors, eternal Gardens has gone the extra mile to make this year’s Undas commemoration a memorable and enjoyable experience for families. Jose Antonio V. r ivera, Vice President for Sales and Marketing,

shared exciting details about the activities planned.

“We want to make families’ stay at our parks worthwhile and fun at the same time. To that end, we have prepared a range of activities that everyone can enjoy together,” said r ivera.

He further elaborated on some of the activities planned for this year, including an eternal Paw Parade, Acoustic Soul Serenade, Candle Lighting Ceremony for a Cause, Kids’ Halloween Party, and many more. eternal Gardens is part of the ALC Group of Companies founded by the late Amb. Antonio L. Cabangon Chua and is currently chaired by D. edgard A. Cabangon.

BoeING Co. raised around $21 billion in an expanded share sale, one of the largest ever by a public company, shoring up its balance sheet as it seeks to stave off a potential credit rating downgrade to junk.

The US planemaker sold 112.5 million common shares for $143 each, according to a statement. The stock was priced at a discount of about 7.7 percent to the Friday closing price of $155.01. boeing also sold $5 billion of depositary shares.

The company’s stock was down 0.5 percent in pre-market trading. It’s plunged about 42 percent this year, the second worst performance in the Dow Jones Industrial Average. The infusion of funds clears one of new Chief executive officer Kelly ortberg’s most urgent tasks amid a period of financial turmoil for the planemaker. boeing’s balance sheet was already strained by the pandemic, and before that two fatal jet crashes involving its workhorse 737 Max model. Now there’s a labor strike, in its seventh week, that’s crippling manufacturing of the jetliner. boeing needed the capital infusion to maintain its investmentgrade rating and fund its jet production ramp-up once the walkout ends.

The company is on track to burn around $4 billion in cash during the fourth quarter, which would bring its cash outflows to around $14 billion for the year. The planemaker expects to continue burning cash through the first half of next year as it restarts its factories, including the 737 Max assembly lines.

boeing factory workers voted last week to reject the company’s latest contract offer, which included a wage increase of 35 percent spread over four years. The company plans to cut its workforce by about 10 percent, ortberg said in a memo to employees october 11. The company on october 23 received clearance from the US Securities and exchange Commission to sell as much as $25 billion of equity and debt. boeing also has a separate new credit agreement in place for $10 billion, giving it “additional short-term access to liquidity as we navigate through a challenging environment.” ortberg is also considering options to streamline boeing’s broad portfolio. He has launched a review of its businesses that the Ceo expects to conclude by year-end. The company is weighing options for the future of its troubled Starliner space capsule program as part of the review, bloomberg News has reported. The underwriters have the option to sell an additional 16.9 million common shares and $750 million in depositary shares.

Goldman Sachs Group Inc., b ank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. led the capital raise, while Wells Fargo & Co., bNP Paribas SA, Deutsche b ank AG, Mizuho Financial Group Inc., Morgan Stanley, r oyal b ank of Canada and SM b C

By Cai U. Ordinario @caiordinario

THE country’s strong economic prospects would help sustain the double-digit growth in net income posted by the Metropolitan Bank & Trust Co. (Metrobank) in the nine-month period ending September 2024.

In a disclosure to the Philippine Stock Exchange (PSE), Metrobank (PSE: MBT) said its net income grew 12.4 percent to P35.7 billion in the January to September 2024 from P32.27 billion in the same period last year. The country’s third-largest lender in terms of total assets said the growth was driven by expansion and improved quality of its assets and recovery in non-interest income.

In the third quarter or the July to September period, the net income of the bank grew 11.35 percent to P12.124 billion this year from the P10.888 billion posted in the same period last year.

“Our robust results reflect our strong drive to continue supporting the growing needs of our clients, all while preserving the health of our portfolio,” said Metrobank President Fabian S. Dee. “We look forward to the positive impact of recent regulatory measures on the banking industry alongside improving economic outlook.”

Last Tuesday, MBT traded for P75.50 per share, 4.07-percent lower than the P78.70 per share price on Monday. Both share prices were below the P82.60 52-week high of the stock.

The bank reported that its loans grew 15.6 percent as of September 2024 driven by a 16.6 percent growth in commercial loans. Metrobank said the increase in commercial loans signaled the increase in capital spending and growth in corporate inventories. Consumer loans, meanwhile, grew by 12.3 percent in the period ending September 2024. Metrobank noted that net credit card receivables grew 16.6 percent while auto loans increased 15.7 percent during the period.

Meanwhile, Metrobank said total deposits stood at P2.3 trillion. Lowcost Current and Savings Accounts (CASA) made up for 62.3 percent of total deposits.

Net interest income climbed by 11 percent to P85.7 billion, with net interest margin at 3.9 percent for the January to September period.

“The bank took advantage of favorable market developments during the third quarter, generating combined trading and foreign exchange gains of P5.6 billion in the nine months ending September, which is 56.4-percent higher year-on-year. In addition, fee income edged up to P12.5 billion for the same period,” according to Metrobank.

The lender also reported that it operating cost increased by 11.2 percent year-on-year to P57 billion as of September, driven by manpower, taxes and licenses, IT and marketing costs as the bank continued to invest for growth.

Cost to income ratio stood at 52.2 percent during the period. As a result, pre-provision operating profit increased by 7.9 percent to P52.8 billion.

Banking&Finance

Govt infra spend slowed in August

By Reine Juvierre Alberto @reine_alberto

ADMINISTRATIVE delays and inclement weather hampered the government’s infrastructure spending in August, according to the Department of Budget and Management (DBM).

Latest data on the national government’s disbursement performance showed state infrastructure spending and other capital outlays fell to P108.6 billion in August, down by 11.1 percent from P122.1 billion in the same period in 2023.

The DBM attributed the reduction to the delays in project execution and disbursements within the Department of Public Works and

WITH revenues rising nearly half to P79.43 billion from January to September this year, the Philippine Amusement and Gaming Corp. (Pagcor) saw its net income almost doubling to P9.63 billion from the P4.85 billion in the same period in 2023.

Two months before the year ends, Pagcor announced last Tuesday that its revenues as of end-September expanded by 42 percent to P79.43 billion from the P55.95 billion recorded during the same period in 2023.

“Our third quarter performance is a strong indication that in spite of the President’s decision to ban offshore gaming operations in the country, we are still on track to meet our P100 billion revenue target by yearend,” Pagcor Chairman and CEO Alejandro H. Tengco was quoted in a statement as saying.

Tengco attributed the robust electronic games sector and the country’s licensed casinos and integrated resorts to the state gaming agency’s financial performance.

Electronic games sector, including e-games, e-bingo, specialty games and sports betting, contributed P28.22 billion or 35.52 percent to the overall gaming revenues.

Licensed casinos and integrated resorts added 30.84 percent or P24.50 billion in revenues collected from license fees.

Moreover, of the total P79.43 billion in revenues, P69.88 billion came from gaming operations and license fees, P6.43 billion from other

THE Bureau of Internal Revenue (BIR) continued its crackdown on illicit cigarette trade by raiding a factory in Cabanatuan City that the BIR alleges to have evaded P636.935 billion in unpaid taxes.

In a statement on Tuesday, Internal Revenue Commissioner Romeo D. Lumagui Jr. announced a “successful raid” on a large-scale factory manufacturing illegal cigarettes in a component city in the landlocked province of Nueva Ecija, Central Luzon (Region 3). Fifteen Chinese nationals were also arrested during the raid, according to the tax collection agency. The BIR added that authorities dis-

DAVAO CITY—The Philippine Deposit Insurance Corp. (PDIC) announced it will sell 52 properties across the country through electronic public bidding (e-bidding). According to the PDIC, the properties are agricultural, residential and mixed-use lots located in 23 provinces, two of which are in the Visayas and seven in Mindanao. Bids will be accepted through the PDIC’s e-bidding portal starting at 9:00 a.m. on November 27 until 1:00 p.m. of November 28. Bids will be opened at 2:00 p.m. on November 28, the PDIC said. To be sold on an as-is-where-is basis are corporate and closed banks’ assets consisting of 28 vacant agricultural lots, 13 agricultural lots with improvements, six residential and/or agricultural lots with improvements, three vacant residential and/or agri-

payments for completed infrastructure works, have yet to be cashed out by contractors; another factor to the delay in reflecting actual disbursements.

The timeline for the processing and release of payments for ongoing projects was also affected due to the contractors’ delays in the submission of billing documents as well as the slowdown and rescheduling of some major infrastructure projects.

Highways (DPWH), further hindered by adverse weather conditions.

The increase in DPWH’s outstanding checks amounting to P22 billion as of end-August further dampened infrastructure spending. That amount increased nearly a third (29.41 percent) from the P17 billion the DPWH recorded during the same period last year.

These checks, which accounted for

related services and P3.11 billion was sourced from other income.

Tengco said Pagcor’s bigger revenues also equate to a higher contribution to nation-building.

As such, Pagcor’s share in nationbuilding jumped by 40.39 percent to P48.88 billion from last year’s P34.82 billion.

The National Treasury received P33.19 billion as a 50-percent government share from Pagcor’s revenues. Half of the remittances to state coffers, or about P16.59 billion,

covered manufacturing equipment, fake tax stamps, raw tobacco and other materials used in the production of cigarettes. In addition, raiders discovered a bunker and a firing range within the compound that the BIR said was hidden from view.

The operation, conducted jointly by the BIR and the National Bureau of Investigation (NBI), was held on a rest house the ground floor of which was used for manufacturing. Authorities also discovered truck containers used as storage were covered with camouflage covering.

The BIR said the factory was located behind a gasoline station and which could only be accessed by passing through two separate gates. The agency

cultural lots, one vacant residential lot and one residential lot with improvements, according to the PDIC. Of these properties, three vacant agricultural lots, one vacant residential lot, and two mixed-use lots will be sold together. One agricultural lot and one residential lot, both with improvements, are also bundled for sale.

It said the properties are located in Agusan del Sur, Aklan, Batangas, Benguet, Bukidnon, Bulacan, Cavite,

habilitation, renovation, repair and improvement of elementary and secondary school buildings.

Nonetheless, infrastructure spending as of end-August increased by 14.2 percent to P845.3 billion if compared to the P740.3 billion recorded in the same period last year.

During the 8-month period, infrastructure disbursements amounted to P989.4 billion, higher by 12.9 percent year-on-year from P876.6 billion.

Big-ticket infrastructure items for the month include the capital outlays of the Department of Transportation to cover the loan proceeds of the Davao Public Transport Modernization Project and the payment of Right-of-Way expenses of the Metro Manila Subway Project Phase I and NorthSouth Commuter Railway System worth P13.3 billion.

The Department of Education was also allotted P1.5 billion for the re-

has been earmarked to the Philippine Health Insurance Corp. (PhilHealth) to bankroll the Universal Healthcare Law.

The Philippine Sports Commission (PSC) also received P1.65 billion as its 5-percent share from Pagcor’s revenues while P90.68 million was given to athletes and coaches who won in international sports competitions as incentives.

To fund programs under the Office of the President, Pagcor disbursed P9.26 billion for the implementation of socio-civic projects.

Meanwhile, the gaming regulator paid its franchise and corporate income taxes amounting to P3.49 billion and P421.35 million, respectively, to the Bureau of Internal Revenue (BIR).

Cities hosting Pagcor-owned Casino Filipino branches also received P525.95 million while the Department of Justice’s Board of Claims was allotted P99.08 million. The latter would be used to compensate victims of unjust imprisonment.

Lastly, the Renewable Energy Trust Fund was earmarked P140.20 million. Reine Juvierre Alberto

said factory conditions were unsanitary, with raw tobacco merely placed on the floor where dirt and dust accumulated.

Lumagui said the Bureau will continue to raid large-scale illicit cigarette warehouses, traders and manufacturers. He added that the raid “shows our commitment to a fair and equal marketplace in our country.”

“Expect more raids,” Lumagui said.

The BIR said the manufacturers of illicit cigarettes are now under investigation for violating several provisions in the National Internal Revenue Code (NIRC). These include Sections 236, 263, 265-B, 260, 254 and 255 (Attempt to Evade or Defeat Tax) of the NIRC.

Ilocos Sur, Iloilo, Isabela, Kalinga Apayao, Laguna, Lanao del Norte, Maguindanao, Misamis Oriental, Negros Oriental, Pampanga, Pangasinan, Quezon, Quirino, Sultan Kudarat, Surigao del Norte, and Tarlac. Prospective parties can join the ebidding through a one-time registration on the portal. Once registered, buyers may submit their bids online and observe the e-bidding proceedings by clicking the “Assets for Sale”

also grew by 19.4 percent to P647.7 billion from P542.4 billion.

Moreover, local government units received higher allocations amounting to P509 billion and increased capital transfers worth P163.9 billion. Subsidies to state-run corporations, meanwhile, declined by 24.9 percent to P87 billion from P115.9 billion.

Overall, national government disbursements jumped by 11.3 percent to P3.690 trillion as of the end of August from P3.315 trillion a year ago.

State spending during the eightmonth period included interest payments amounting to P509.4 billion, up by 31.1 percent year-on-year from P388.7 billion.

“Personnel Expenses” item inched up by 2.2 percent to P900.6 billion from P881.6 billion, while maintenance and other operating expenses

Similarly, net lending plunged by 99.4 percent to about P100 million from P15.4 billion due to the change in the maturity profile of debt obligations of the National Food Authority (NFA).

Despite some P1.4 billion advances that were released to the NFA in August earlier this year, most of its availments were expected to begin this September 2024 in line with its maturity schedule.

The government has yet to spend P178.3 billion or 3.1 percent of the P5.767 trillion obligation program for the year.

Pachydermal insensitivity

THE term “pachydermal insensitivity” describes the thick-skinned insensitivity of the current electoral candidates from political dynasties. They are oblivious to the spirit of the constitutional mandate against such dynasties as they proliferate to dominate the electoral landscape.

In fact, it seems that they are defiantly flaunting their masterful resistance to the pressures of public opinion against such family-centered political monopolies.

The more prominent political dynasties are of course the Marcoses of Ilocos Norte, the Dutertes of Davao, the Romualdezes of Leyte, the Abaloses of Mandaluyong, and so many others. In the Senate we have the siblings Cayetano and Estrada and the mother and son Villar. We could include the “Three Stooges” Larry, Curly and Moe, who are related not by blood but by their common legislative inadequacies.

Political dynasties, we must insist, are inherently bad for the genuine democracy we aspire for. Their motivation is always to keep political power and influence in the family which naturally extends to undue business advantage and finally entrenched economic power. This power usually is manifested in the form of juicy government contracts layered with multiple levels of commissions “for the boys;” shameless corruption institutionalized, indeed.

The political power monopoly allows the dynasts an accumulated and accumulating concentration of wealth, much from government budgets leaked out to their private pockets so they have funds to buy political loyalties, votes and, even in some extreme cases, to guns-for-hire to threaten or eliminate anyone who dares obstruct the plans of the political big boss. Sooner or later, the circumstances will require the political dynasty to organize its own private army of security guards to provide protection for itself or, perhaps, to impose its will on political opponents.

Then what we spawn are several fiefdoms; that’s what we have in the country right now at the levels of local government units. The feudal lord who presides over the political dynasty rations favors upon his voter-constituents in such forms as government appointments, job referrals, contracts, business openings and hard cash of course. In recompense, in the best spirit of “utang na loob” (debt

icon on the PDIC website’s homepage at www.pdic.gov.ph. Participants bidding on behalf of another individual or an organization can download the Pro-forma Special Power of Attorney and Secretary’s Certificate, respectively, from the e-bidding portal.

As the statutory receiver of

of gratitude), constituents continue to vote the dynast into political position. There is no such thing as “vote-wisely” or “civic duty” involved in this electoral transaction: just the nurtured personal fealties playing out to favor the political lord.

This is feudalism in modern clothing. Now we find ourselves dismayed, frustrated, distressed, aggrieved. How did these political dynasties grow like mushrooms in the dark?

It is clear that the Filipino voters have not displayed much good discernment in the exercise of their voting rights (and I say this with conviction, at the risk of being accused of being presumptuous). This lack of voter discernment has metastasized to electing clowns to the once-revered legislative Upper House, assert several observers. But others say they’re not even clowns anymore: they’re no longer funny in what they’re doing or not doing. The reality is that we are now paying for our past indifference and our lack of action or counter-action. We knew that our crooked politicians had deliberately kept their local constituents “ignorant” or “uneducated” so as for them not to question the political status quo of political dynasties. So long as the voters continued to receive their regular portions of favors capped by cold cash on election day, the political dynasties could stay in power. That’s how the show goes on. The pachydermal insensitivity of our political dynasts is so imbedded in their hopelessly “kapal mukha” (thick-skinned) complex, nurtured to a good bake over time, because we socalled “thinking” citizens did not do anything much to stop it. Like lazy pachyderms we were dismissive about it and refused to make a move from our comfort zones.

Ours, perhaps, is the sin of pachydermal immobility?

The views and opinions expressed above are those of Santiago F. Dumlao Jr. and do not necessarily represent the views of the Financial Executives Institute of the Philippines and the BusinessMirror

Finex Free enterprise

s antiago F. Dumlao Jr.

Pagcor’s net income

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Intellectual humility in the workplace

IN today’s dynamic and fast-paced work environments, intellectual humility is becoming one of the crucial skills for developing innovation, collaboration and overall success for teams. Aside from the traditional traits like confidence and decisiveness, leaders today are expected to have intellectual humility. This is the recognition that one’s knowledge is limited and being open to new ideas is essential for navigating complex problems and leading diverse teams effectively.

At its core, intellectual humility involves being aware of the limits of one’s knowledge, being willing to admit mistakes, and being open to learning from others. It is not about self-doubt or downplaying one’s abilities, but the acknowledgment that growth comes from continuous learning and constructive feedback. In the workplace, this mindset creates a culture where team members are more willing to collaborate, share ideas and learn from failures. It also opens the door to more creative problem-solving because diverse

leaders are better at making decisions in complex situations because they seek advice and are able to use information to arrive at a decision that benefits the entire team. This is particularly important in today’s workplace where technological changes and new ways of working require leaders to be open to new information and adapt accordingly.

One of the key factors for innovation is the ability to think creatively and challenge the status quo. However, this requires admitting that the existing way of doing things may not be the best way. Intellectual humility allows individuals and teams to question long-held assumptions and explore new ideas without being constrained by ego or fear of being wrong. In organizations where intellectual humility is encouraged, team members are more likely to engage in open dialogue, experiment with new approaches, and embrace failure as part of the learning process. This, in turn, leads to more innovative solutions and a competitive advantage.

While intellectual humility starts with individuals, organizations play a critical role in encouraging this trait in the workplace. One way is to create an environment where employees feel comfortable sharing their ideas, even if they challenge conventional thinking. Leaders can model this by openly soliciting feedback and demonstrating that dissenting opinions are welcome. Leaders can also support a growth mindset by offering opportunities for professional development, training, and crossfunctional collaboration. When employees see learning as an ongoing process, they are more likely

employees to reflect on their successes and failures can lead to greater self-awareness and intellectual humility.

Intellectual humility does not just benefit leaders but it also strengthens teams. When employees recognize the value of diverse perspectives, they are more likely to engage in constructive debate and collaborative problem-solving which leads to higherquality decisions and better outcomes for the team. Moreover, teams that practice intellectual humility tend to have stronger interpersonal relationships. By creating a culture where everyone’s voice is heard and respected, members feel more connected to one another, which fosters a sense of belonging. In turn, this can lead to higher engagement, lower turnover, and improved performance.

While the benefits of intellectual humility are clear, developing this trait can be challenging. Many workplaces, particularly those in highpressure organizations often reward confidence and decisiveness over humility and openness. Employees may feel that admitting a lack of knowledge or making mistakes can be viewed as a sign of weakness. Overcoming this requires a shift in mindset at all levels of the organization. Leaders must actively model intellectual humility and reward behaviors that reflect this value. Additionally, people managers must create systems that allow for safe failure where mistakes are seen as learning opportunities rather than liabilities.

Eugenia Last

★★★★★

CANCER (June 21-July 22): Bypass anyone using emotional manipulation to point you in the wrong direction. Think for yourself and put your energy into what benefits you most. Use your imagination to enforce discipline, strength and courage; the result will exceed your expectations. Act out of peace and love, not anger. ★★

LEO (July 23-Aug. 22): Put your energy where it counts. Don’t waste time or money trying to appease others when what you achieve will have a much more significant impact on your life. Protect your home, family and possessions from outside influences and scammers. Don’t believe everything you hear; do your research. ★★★★

In a rapidly evolving business landscape, intellectual humility is becoming an essential trait for both leaders and team members. It fosters collaboration, drives innovation, and enables organizations to adapt to changing circumstances. By embracing intellectual humility, people managers can unlock their full potential and create a culture where creativity and continuous improvement thrive. As businesses strive to remain adaptive and resilient, it is time to recognize that intellectual humility is not a sign of weakness but a strength that leads to greater success.

Girl champions lead the charge in climate action

development challenges,” he said.

The event also featured a dynamic panel discussion with speakers that included Prachi Shevgoankar from India, creator of the citizen-led application for climate action Cool the Globe; Dikatauna Kea from Papua New Guinea, biologist and founder of the Eda Davara Marine Sanctuary, a marine research center and sanctuary; and Sabrina Escalona from the Philippines, co-founder of Rainfold, a foldable rainwater harvesting tank that transforms rainwater into safe, drinkable water.

Ramesh Subramaniam, director general and group Cchief of the sectors group at ADB, highlighted the bank’s increased investment in addressing climate change and its consequences, placing it at the top of its development agenda.

“The vision for ADB is to be the Climate Bank for the Asia and the Pacific region. We’ve allotted $100 billion in cumulative commitments to be reached by 2030. We also have more funds that have been approved, and a significant portion of that will go [toward addressing] climate change,” he said.

“The climate crisis is a social and intergenerational injustice; those who have contributed least are often the most impacted. It also exacerbates inequalities against girls and young women, threatening their futures and hindering their ability to live life to its fullest potential,” added Ana Maria Locsin, executive director of Plan International Pilipinas. She also emphasized that it is crucial to integrate gender perspectives into climate policies and ensure that girls have the tools and opportunities to become effective climate leaders and drive change around the world.

VIRGO (Aug. 23-Sept. 22): You know the rules. Feel free to point out right from wrong or say no to something that isn’t right. Know when to walk away, set boundaries and reject expenses you cannot justify. Learn all you can and only agree to what benefits you. ★★★★

LIBRA (Sept. 23-Oct. 22): Look at every detail, evaluate options and set your sights on what’s feasible. Treat every choice and opportunity as a learning experience, and you will discover how to get the most out of your situation. Self-improvement, communication and educational pursuits are in your best interest. ★★★

SCORPIO (Oct. 23-Nov. 21): Your strengths are your discipline, courage to follow your instincts and desire to put your mind at ease. The choices you make and the changes that result are up to you. Don’t sit on the sidelines when action is necessary to reach your destination of choice. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Letting your emotions rule and acting out of instinct will tempt you when patience is required to avoid a costly mistake. Listen to reason, not someone trying to convince you to do something that benefits them more than you. Protect what you have by saying no. ★★★★

CAPRICORN (Dec. 22-Jan. 19): Refuse to let love, emotions and trying to please others get in your way when a choice arises. Weigh the pros and cons. An opportunity is only worthwhile if you can afford the offer. Don’t leave your fate in someone else’s hands. Take the path you can control.

AQUARIUS (Jan. 20-Feb. 18): Keep your financial situation to yourself. Do your research and set doable goals. Taking a risk will fall short of your expectations. Be smart and avoid unnecessary stress. Simplicity and moderation will serve you well mentally and financially. Focus on health, diet and emotional well-being.

PISCES (Feb. 19-March 20): Trying to please or impress someone will have disadvantages. Be more observant and less eager to buy acceptance; it will save you from financial and emotional heartache. Focus on being fun to be with; if that’s not enough, walk away. Only spend what you have. ★★★

BIRTHDAY BABY: You are energetic, innovative and spontaneous. You are unique and questioning.

RAMESH SUBRAMANIAM, director general and group chief of the sectors group at ADB

Show

‘Venom: The Last Dance’ misses projections as superhero films’ grip on theaters loosens

FOURTH

SPIDER-MAN MOVIE STARRING

TOM HOLLAND IS SET FOR RELEASE JULY 2026

TOM HOLLAND is getting ready to don his Spidey suit again. The fourth installment of the blockbuster series has been set for a July 2026 release, Sony Pictures said on Friday.

Daniel Destin Cretton, best known for helming Marvel’s Shang-Chi and the Legend of the Ten Rings has also signed on to direct the still-untitled film. Cretton had previously been tapped to direct Avengers: Kang Dynasty but exited the project, since reimagined as Avengers: Doomsday late last year.

Jon Watts directed the previous three Holland-led Spider-Man films. Together, Spider-Man: Homecoming, Spider-Man: Far From Home and Spider-Man: No Way Home have made over $3.9 billion globally.

Holland told Good Morning America recently that the idea for the fourth film “is crazy.”

“It’s a little different to anything we’ve done before, but I think the fans are going to really respond to it,” Holland said. The studio claimed July 24, 2026, for its theatrical release. Earlier this week, Holland said during an appearance on The Tonight Show Starring Jimmy Fallon that they plan to shoot next summer. AP

THE ACTRESS AND HER ENEMIES

AN actress is in the middle of a controversy involving a former member of her glam team and a relative. The former member of her glam team was said to have acquired clothes and other sfuff in the name of the actress but these things never reached her. Meanwhile, the glam team member allegedly did this to other people, too, including some editorial contacts. Up until now, the actress is still reportedly getting messages about the former member of her glam team and how this person abused their power and privilege. The funny thing is that the actress’ relative seems to be on the former glam team’s side, along with other showbiz personalities. The former glam team member’s alleged nefarious activities are said to be common knowledge in showbiz and fashion circles.

SHE’S BEING MORE RESPONSIBLE

THE actress used to go all out for annual activities related to a show she is in. The things she did were truly death-defying. How true is it that while she gave her all this year, she is now more cautious? That is said to be because her family, specifically her husband, asked her not to be so adventurous since she isn’t getting any younger. She is also now a mother, not a young girl with no responsibilities in life. The actress, since her marriage, has prioritized her family so her agreeing to be less reckless with her activities is not really surprising. Her husband has always been supportive of her so this doesn’t seem to be a big deal to her.

DIVORCING

THE actress has been posting videos of her family, her husband. Later on, the husband would reveal via a social media post that the videos are old and he and the actress are in the process of getting a divorce. The husband would later delete that particular post but not after a lot of people saw it. According to rumors, the actress and her husband have been separated for about a year. But even before that, they are said to have been estranged for a while even though they continued to live in one house. The husband is said to be seeing someone now since he considers himself to be single even if he and the actress are not yet divorced. This is why he resents it when she posts old videos of them that make if appear they are still together.

NEW GIRL

By Jake Coyle The Associated Press

NEW YORK—Venom: The Last Dance  less bite than expected at the box office, collecting $51 million in its opening weekend, according to studio estimates on Sunday, significantly down from the alien symbiote franchise’s previous entries.

Projections for the third Venom film from Sony Pictures had been closer to $65 million. More concerning, though, was the drop off from the first two Venom films.

The 2018 original debuted with $80.2 million, while the 2021 follow-up, Venom: Let There Be Carnage, opened with $90 million even as theaters were still in recovery mode during the pandemic.

The Last Dance, starring Tom Hardy as a journalist who shares his body with an alien entity also voiced by Hardy, could still turn a profit for Sony. Its production budget, not accounting for promotion and marketing, was about $120 million—significantly less than most comic-book films.

But The Last Dance is also performing better overseas. Internationally, Venom: The Last Dance collected $124 million over the weekend, including $46 million over five days of release in China. That’s good enough for one of the best international weekends of the year for a Hollywood release.

Still, neither reviews (36 percent fresh on Rotten Tomatoes) nor audience scores (a franchise-low “B-” CinemaScore) have been good for the film scripted by Kelly Marcel and Hardy, and directed by Marcel.

The low weekend for Venom: The Last Dance also likely insures that superhero films will see their lowest-grossing year in a dozen years, not counting the pandemic year of 2020, according to David A.

for Franchise Entertainment.

Following on the heels of the Joker: Folie à Deux flop, Gross estimates that 2024 superhero films will gross about $2.25 billion worldwide. The only upcoming entry is Marvel’s Kraven the Hunter, due out December 13. Even with the $1.3 billion of Deadpool & Wolverine, the genre hasn’t, overall, been dominating the way it once did. In 2018, for example, superhero films accounted for more than $7 billion in global ticket sales.

Last week’s top film, the Paramount Pictures horror sequel Smile 2, dropped to second place with $9.4 million. That brings its two-week total to $83.7 million worldwide. The weekend’s biggest success story might have been Conclave, the papal thriller starring Ralph Fiennes and directed by Edward Berger (All Quiet on the Western Front). The Focus Features release, a major

and stellar reviews, Conclave could continue to gather

MANY people are surprised that this lovely girl, an influencer and former beauty queen, fell in love with a public figure who is not very well-liked. The girl is known to be a bit shy, quite nice, and very intelligent. Thus, for her to choose the guy is quite out of character, according to people who know her. The public figure has been in a couple of very public relationships with other girls who are also celebrities and these didn’t end well. He has also been caught publicly cheating. Before this girl, the public figure was in a relationship. The girl was someone he started dating when he was still with his longtime girlfriend. So it’s not surprising to everyone when he ditched that girl for another one.

Marollano-Reglos. Duavit, on the other hand, was joined by GMA executive vice president and chief financial officer Felipe S. Yalong and GMA Network officers: Atty. Annette Gozon-Valdes, Lilybeth G. Rasonable, Oliver Victor B. Amoroso, Rikki EscuderoCatibog, Joseph T. Francia and Angela Javier Cruz.  During the meeting, Duavit discussed the Embassy of Israel’s events and activities, highlighting Israel’s humanitarian assistance in typhoon-stricken areas, and its support during the pandemic.

He then emphasized the role of GMA Network in the relationship between the Philippines and Israel: “GMA Network is a partner in the enhancement of

“Our nations, our countries, are really close. We are far away geographically, we are in the Middle East and you are in Southeast Asia. We have very different strategic settings, different challenges from some perspectives. But on the other hand, [there are] a lot of commonalities, specifically in our culture and in history.”

Following his official visit, Ambassador Fluss was interviewed by GMA Integrated News anchor and multiplatform veteran broadcast journalist Pia Arcangel.  More information is available at www.gmanetwork. com.

ROBERT PATTINSON PLAYS

MULTIPLE MICKEYS IN NEW FILM WHAT’S it feel like to die? From the Academy AwardParasite, Bong Joon Ho, comes Mickey starring Robert Pattinson, Naomi Ackie and Steven Yeun, with Toni Collette and Mark Ruffalo. It opens in cinemas on January 29, 2025.

From Bong Joon Ho comes his next groundbreaking cinematic experience, Mickey 17. Unlikely hero Mickey Barnes (Robert Pattinson) has found himself in the extraordinary circumstance of working for an employer who demands the ultimate commitment to the job...to die,

Written and directed by Bong Joon Ho, Mickey 17 stars Robert Pattinson (The Batman, Tenet), Naomi Ackie Star Wars: Episode IX—The Rise of Skywalker), Steven ), with Academy Award nominees Toni Collette ) and Mark Ruffalo (Poor Things). The film is produced by Dede Gardner and Jeremy Kleiner (Oscar winners for Moonlight and 12 ), Bong Joon Ho and Dooho Choi (Okja, ). It is based on the novel Mickey 7 by Edward is distributed in the Philippines by Warner Bros. Pictures, a Warner Bros. Discovery company.

WITH Tom Hardy reprising his turn in the title character, Venom: The Last Dance may have topped the North American

ONHMFC implements moratorium for borrowers affected by typhoon

IN a bid to provide relief to affected housing loan borrowers, the National Home Mortgage Finance Corporation (NHMFC) announced Friday, October 25, 2024, the implementation of a one-month moratorium on the monthly amortization payments of borrowers affected by severe Tropical Storm Kristine.

The moratorium is in accordance with the directive of Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar to provide financial relief to borrowers affected by the recent typhoon. Accordingly, NHMFC President Renato L. Tobias ordered the Collection and

Accounts Management Group (CAMG) to determine housing loan borrowers whose properties are located in areas that have been affected by the onslaught of the typhoon.

Borrowers in the storm-affected areas are automatically qualified for moratorium, subject to NHMFC’s

internal rules and regulations. Meanwhile, borrowers who opt to continue settling their amortization payments during this moratorium period may do so at the NHMFC offices, though the accredited collection partners, or via Online Payment Facility in the NHMFC website, Gcash or Maya App.

GCash Marks 20 Years of Innovation, Finance for All

GCASH, the country’s top finance super app, celebrated 20 years of transforming the everyday lives of Filipinos at its GCash 20th Anniversary Gala on October 10, 2024 at the Manila Marriott Grand Ballroom. The star-studded celebration brought together GCash executives, partners, and stakeholders, and GCash ambassadors who have been part of GCash’s incredible two-decade journey.

Hosted by fan-favorites multi-awarded

TV Host Robi Domingo and MMFF 2023

Best Supporting Actress Jervi Wrightson, also known as KaladKaren, the anniversary gala was a Celebration Para Sa Lahat, honoring GCash trailblazing pioneers, whose vision and dedication 20 years ago laid the foundation for its growth and its more than 94 million active users whose loyalty has propelled the brand’s success over the years.

The evening kicked off with electrifying performances from Mr. Pure Energy, Gary Valenciano, who starred in GCash’s first commercial in 2004, and the sensational P-Pop Kings, SB19. Their dynamic acts set the tone for a night of celebration, marking GCash’s impressive 20-year milestone.

GCash’s visionary leaders took a moment to honor the early champions who helped shape digital finance in the Philippines. Mynt Chairman and Globe Group President and CEO, Ernest Cu, gave

an inspiring welcome speech: “Globe’s vision is truly to bring solutions and services to the Filipino people that will enhance and improve their daily lives, and we saw that the financial inclusion problem continued to remain unsolved.”

He went on to emphasize GCash’s impact, adding, “It truly is very rare to see a product not only benefit its owners and shareholders, but also the people that it serves. And I think today, with what we’re seeing today, financial inclusion has indeed arrived in the Philippines through GCash.”

GCash President and CEO Martha Sazon followed to make a heartfelt tribute to the millions of GCash users, emphasizing GCash’s continued mission of empowering every Filipino, “Together, we have been building this GCash story, focused on making Filipinos’ everyday lives better. As we go into the next chapter of our story, our commitment to our purpose is stronger than ever. We are one with every Filipino on their journey towards financial health and wellness. With GCash they can thrive everyday, prepare for rainy days, and get ready for that beautiful one day!”

From its humble beginnings in digital transactions, GCash has grown into a fullfledged finance super app, empowering millions of Filipinos to spend, borrow, and grow their money. This impact was powerfully highlighted in a tribute video

that moved the audience, featuring reallife stories from GCash’s “Stories of Hope” series such as Cocoy Rubio, a bartenderturned-entrepreneur; Ate Alma, who rebuilt her home through bayanihan; Turing Quinto, a drag queen supporting a family of nine; and para-athlete champion Adeline “Adz” Dumapong.

The night reached its peak with a powerful finale by Bituin Escalante, Morissette, SB19’s Stell, and Mr. Pure Energy Gary Valenciano, all backed by the internationally renowned Manila Philharmonic Orchestra under Maestro Louie Ocampo. Their show-stopping number perfectly captured the essence of GCash’s 20-year journey—bold, inspiring, and unforgettable. As the music swelled, GCash’s leaders and guests raised their glasses in a celebratory toast, marking two decades of innovation and empowerment, while looking ahead to the exciting possibilities and innovations still to come. GCash’s celebration does not end with the gala. As it continues to mark its 20th anniversary, there’s even more to look forward to this whole month of October. With exciting promos, giveaways, and events lined up, the festivities are just beginning. Stay tuned as GCash celebrates its two-decade journey of innovation and financial inclusion, with more surprises coming your way.

NLINE food and grocery delivery platform

foodpanda Philippines donated over 1,000 meals to various communities as part of its World Food Day efforts, reinforcing its commitment to fighting hunger and reducing food waste through its sustainability program, Let’s Do Our Pau-rt (LDOP).

World Food Day, celebrated annually on October 16, is a global initiative spearheaded by the Food and Agriculture Organization (FAO) of the United Nations, aimed at raising awareness and promoting action for those affected by hunger. In the Philippines, the situation is dire, with approximately 3.95 million Filipino families currently struggling with involuntary hunger, according to the 2024 Social Weather Survey (SWS).

In response to this growing issue, foodpanda Philippines organized various meal donation activities for this month’s celebration of World Food Day. “We want to create a bigger impact by working with our stakeholders to combat hunger and food waste in our country,” shared a foodpanda representative. “Our initiatives also encourage deeper involvement from our employees through these meal donation activities.”

The company encouraged its employees to donate meals for World Food Day through the ShareTheMeal (STM) feature in the foodpanda app. Launched in partnership with the United Nations World Food Programme (UNWFP), the donation option is available to all foodpanda app users at the checkout page, with proceeds benefiting local communities.

“World Food Day perfectly aligns with our Hero Month celebration, which fosters volunteerism and social advocacy among our employees throughout October. We saw this as an ideal opportunity to make meal donations a meaningful volunteer activity for our employees,” the representative shared.

For October alone, the initiative raised more than 300 meals from foodpanda Philippines employees who donated. “This is a chance for our employees to be part of a collective effort for positive change, leaving them with a sense of fulfillment and purpose.”

Through its collaboration with Scholars of Sustenance Philippines (SOS PH), a global food rescue organization, foodpanda helps recover surplus food items and turns them into nutritious meals for redistribution to local communities.

For this year’s World Food Day celebration, foodpanda Philippines, with the support of its employee volunteers, cooked, prepared, and distributed 500 meals to foodpanda donates more than

beneficiaries in Marikina City. The company also emphasized its dedication to sustainability and expressed its commitment to promoting a circular food economy, where surplus food is repurposed to reduce waste and fight hunger. “We always participate in the Rescue Kitchen activity whenever possible because it’s a win-win—helping reduce food waste while feeding those in need. Through these activities, we’re building a system where food never goes to waste, transforming surplus into nutritious meals for the community and creating a more sustainable future for everyone.” The company has also expanded its meal donation initiatives with a month-long feeding program in General Santos City.

hunger and food insecurity. We want to continue using our platform to bring people together in the fight against global hunger and food waste,” the company representative concluded.

BingoPlus Foundation adds the “Plus” in health, livelihood initiatives in General Santos

IN line with its commitment to improving community health and livelihood, BingoPlus Foundation, the social development arm of DigiPlus Interactive, has successfully completed a series of initiatives in General Santos, under its KalusuganPLUS and KabuhayanPLUS programs. These efforts aim to address critical public health challenges while empowering vulnerable communities with sustainable economic opportunities.

KalusuganPLUS: Sanitation facilities benefit 3,000 residents In a series of turnover ceremonies in September 2024, BingoPlus Foundation handed over five sanitation facilities in the barangays of San Isidro, Ligaya, Tinagacan, Calumpang, and Bawing. These essential facilities are expected to benefit nearly 3,000 residents, addressing a long-standing gap in access to clean water and proper sanitation. Notably, the barangay of Bawing is home to Badjao communities, which have historically faced challenges in accessing clean water and sanitation.

This effort is in line with the Philippine Approach to Total Sanitation (PhATS), a nationwide initiative that promotes improved hygiene and sanitation practices, contributing to the achievement of local government units’ (LGU) Zero Open Defecation (ZOD) campaign. PhATS emphasizes sustainable sanitation practices to prevent waterborne diseases and improve overall public health.

This initiative is particularly critical in the SOCCSKSARGEN region, where only 73.8 % of families have access to basic sanitation facilities, according to the Philippine Statistics Authority Annual Poverty Indicators Survey (March 2023). As lack of

hygiene practices persist in some rural areas, this imposes a significant health risk in the region, which has also seen a return in polio cases. The newly built facilities address this gap, and BingoPlus Foundation is playing a pivotal role in safeguarding public health in one of the country’s most underserved areas.

Beyond health, BingoPlus Foundation is also empowering marginalized sectors through its livelihood programs. In partnership with Barangay San Isidro, the Foundation celebrated the graduation of the first batch of trainees from its Dressmaking and Tailoring Training Center, which opened last June. The center is now serving its second batch of trainees, and applications will be open for Batch 3 through the barangay.

Part of the PLUS Centers for Livelihood network, this center collaborates with TESDA to provide NC II Certification in dressmaking, equipping participants, many of whom are solo parents and women, with valuable skills for employment or entrepreneurship. The program provides an alternative source of income and a sustainable livelihood for many in the community, fostering entrepreneurship and economic growth in the region.

Celeste Jovenir, DigiPlus Vice President for Investor Relations and BingoPlus Foundation COO, shared, “BingoPlus Foundation’s mission goes beyond providing aid; we’re here to uplift communities facing the toughest social challenges, from health and sanitation, to livelihood, in General Santos and beyond. Through KalusuganPLUS and KabuhayanPLUS, we’re empowering individuals to rise above their circumstances and build a future full of hope and opportunity.”

GCash, the country’s top finance super app, celebrated 20 years of transforming the everyday lives of Filipinos at its GCash 20th Anniversary Gala on October 10 at the Manila Marriott Grand Ballroom.

EMPLOYEE volunteers of foodpanda Philippines prepared a total of 500 meals donated to beneficiaries in Marikina City

BINGOPLUS Foundation turns over sanitation facilities to five barangays across General Santos City. Turnover ceremonies were attended by the representatives of the local government unit of General Santos City, city health officers, members of the communities, and the BingoPlus Foundation team

Editor: Tet Andolong

EcozonEs arE growth drivErs

By Rizal Raoul S. Reyes @brownindio

An investor in the Philippines will get several advantages if it decide to locate in a Philippine Economic Zone Authority (PEZA) area. It offers several advantages such as ease-of-doing-business, one-stop-shop; non-stop-shop; no red-tape, only red-carpet treatment for investors; and no graft and corruption.

Furthermore, PEZA also offers other advantages which includes world-class, environment friendly; fully secured area perimeter; adequate, clean and uninterrupted power supply; adequate water supply; state-of-the-art telecommunications facilities; ready-to-occupy standard factory buildings; wastewater treatment facilities; computer security and building monitoring system; and presence of banks, fire fighting facilities and sports facilities.

Waltham, Massachusetts, United States-based Thermo Fisher Scientific Inc. made the logical choice as it established their office in a PEZA area located in the Bridgetowne Destination Estate, the 30-hectare pioneering master planned integrated development of the Gokongwei-led Robinsons Land Corporation (RLC).

Konrad Bauer, Senior Vice President, Global Business Services, Thermo Fisher Scientific, told the BusinessMirror in an email interview that their new center represents a significant investment and strong commitment to the market.

“This PEZA-registered prime office development is strategically positioned in the Bridgetowne des -

Vidarte , a prime development of Vista Land, the Philippines’ leading integrated property developer, has announced the addition of an exciting new feature in its premises: Happy tails Park. t his interactive space is designed specifically for pets and their owners, offering expansive play areas for pets

tination estate, Robinsons Land’s expansive mixed-use project that spans Quezon City and Pasig City,” explained Bauer.

Bauer said the Philippines is an ideal location for their new center due to its skilled workforce and strategic position in Southeast Asia. Further, he said the country’s highly educated talent pool and a supportive business environment are huge factors to attract investors such as Thermo Fisher.

He said the new Manila hub is going to play a huge role in expanding the company’s broader Global Business Services network, which is positioned as the transformative backbone of the company, central -

izing many of its financial, accounting and customer care activities.

“Working as one team, we combine our scale and depth of expertise to enable our customers to make the world healthier, cleaner and safer,” said Bauer.

Holistic Ecosystems for Long-term Success

A LTH o UGH designed primarily as industrial estates, Aboitiz InfraCapital (AIC) Economic Estates also offer holistic ecosystems that integrate critical infrastructure solutions such as reliable power, water, construction and telecommunication services, along with regulatory and operational support. Thes- comprehensive approach allows locators to optimize costs, enhance productivity, and focus on long-term growth.

“The success of Japanese companies in our estates is a testament to the quality of our business-ready ecosystems,” added President and Aboitiz InfraCapital Economic Estates Head Rafael Fernandez De Mesa. “We remain committed to providing our locators with the best environment for growth through

a seamless, sustainable, and forwardthinking approach to industrial development.”

As AIC continues to help in shaping the future of industrial development in the Philippines, de Mesa said the company remains steadfast in its mission to attract global investments, generate high-value jobs, and drive innovation. Through its strategic partnerships with both public and private sectors, he said AIC plays a pivotal role in advancing the government’s vision of building a more sustainable, inclusive, and globally competitive economy.

AIC Economic Estates continues to

play

holistic, community-oriented lifestyle. With its wide-ranging amenities, Happy tails Park is anticipated to become a favored destination for pet-friendly activities within the expanding estate.

Vidarte: A rising standard in lifestyle and art t rue to its name—a combination of the Spanish vida (life) and i talian arte (art)—Vidarte invites residents to experience a lifestyle that is both inspired and enriched by creativity. Set against the rolling terrains of a ntipolo, in this fast-growing city at the foothills of the Sierra Madre, Vidarte spans 152 hectares of i talian-inspired architecture and artistic expression. i t offers breathtaking views of Metro Manila and surrounding landmarks and serves as a creative

ing and integrating the

and with

(From left): Marubeni Corporation Deputy General Manager for Next Generation Social Infrastructure Shirozono Kazuaki, Aboitiz

Sports BusinessMirror

B8 Wednesday, OctOBer 30, 2024

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

Moment of calm for Ukraine

KYIV, Ukraine—At soccer games in Ukraine, crowd sizes are determined by the capacity of the nearest bomb shelter.

For the first time since the full-scale war began in 2022, the Ukrainian Premier League is holding a full season with fans present, as martial-law bans on public gatherings have been eased.

Despite the constant threat of airstrikes, Dynamo Kyiv supporters eagerly snap up the 1,700 tickets available for each home game at the 16,000-seat Valeriy Lobanovskyi Stadium.

Many fans are keen to experience a rare moment of calm, free from the country’s traditionally intense sporting rivalries.

While the war forced Dynamo to relocate its home matches in the Europa League to Hamburg,

Tolentino presents working team ahead of POC polls

ABRAHAM “BAMBOL” TOLENTINO announced his “working team” as he seeks another term as president of the Philippine Olympic Committee (POC). Tolentino, also the Tagaytay City mayor and PhilCycling chief, eyes a fresh four-year mandate as president of the highest sports-governing body in the country with his “Working Team” composed of Al S. Panlilio (basketball) as First Vice President, Rep. Richard Gomez (modern pentathlon) as Second Vice President, Jose Raul Canlas (surfing) as Treasurer and Donaldo “Don” Caringal (volleyball) as Auditor, with Alexander “Ali” Sulit (judo), Ferdinand “Ferdie” Agustin (jiu-jitsu), Leonora “Len” Escolante (canoekayak) and Alvin Aguilar (wrestling) and Leah Jalandoni Gonzales (fencing) as members of the Executive Board. The elections are set November 29 at the East Ocean Palace Restaurant in Parañaque City.

“It’s about teamwork, it’s about setting and achieving the goals, it’s about cooperation,” said Tolentino who recently showed a video of what he called as “My Working Team” for the POC’s elections, held once every four years—or one Olympic cycle.

“This is ‘My Working Team’ and the mission is ‘Faster, Stronger, Higher— Together,’” Tolentino said. “It will be much tougher this time as the Los Angeles 2028 beckons, but rest assured, we will be more committed and active to our task, all for Philippine sports.”

With the POC under Tolentino, the country earned three gold medals in two Olympic Games, with Hidilyn Diaz delivering the Philippines’ first ever gold by winning in weightlifting in the 2021 Tokyo Games and gymnast Carlos Yulo bringing home two gold medals from the 2024 Paris Games.

Atty. Teodoro Kalaw IV will again chair the POC commission on elections with Colegio de San Juan de Letran Calamba Rector and President Rev. Fr. Napoleon Encarnacion, O.P., and Philippine Sports Commission Commissioner Olivia “Bong” Coo as members. Josef T. Ramos

PRESIDENT  Ferdinand

“Bongbong” Marcos Jr. will be the guest of honor at the opening ceremony of the International Canoe Federation Dragon Boat World Championships on Thursday at the Puerto Princesa City Baywalk.

The President earlier paid tribute to the blue-ribbon meet also serving as a highlight of the centennial anniversary of the International Canoe Federation in issuing Proclamation No. 699

ball. Children rushed to the touchline for autographs,

The 2024 edition of the competition has already drawn a record-breaking number of 27 countries and close to 2,000 paddlers from all over the world.

“India alone is fielding a 140-strong contingent of paddlers while the Philippines has 200 entries,” Philippine Canoe Kayak Dragon Boat Federation president Leonora “Lenlen” Escollante said.

ICF president Thomas Konietzko of Germany and the Philippine Sports

THE Philippine National Shooting Association (PNSA) ends the year with a bang when it hosts the Southeast Asian Shooting Association Championships from November 24 to December 14.

The 46th edition of the event will feature competitions in practical shooting, sporting clays, bench rest, and Olympic shotgun, including trap and skeet shooting.

Eight to nine countries are expected to participate in the three-week meet, which will comprise around 300-350 shooters.

“It’s almost like a fiesta. We’re pretty excited about it, although a bit tiring to prepare,” said PNSA secretary-general Irene Garcia in the Philippine Sportswriters Association (PSA) Forum on Tuesday, where she

PARIS—Spanish midfielders Rodri and Aitana Bonmatí won the men’s and women’s Ballon d’Or award on Monday as the world’s best soccer players, while Real Madrid snubbed the star-studded ceremony in Paris in apparent protest. The 28-year-old Rodri won the prestigious award for the first time after helping Manchester City win the Premier League and being a key player in Spain’s European Championship triumph. He succeeded eight-time winner Lionel Messi of Argentina and beat Real Madrid›s Vinícius Júnior into second place, a result which greatly displeased the Spanish club.

from Day One’

CBy Josef T. Ramos

OACH Tim Cone would not reveal what adjustments he is making after Ginebra’s lackadaisical opening game but said he is urging the team to play with more intensity to get back on track in the Philippine Basketball Association Season 49 Governors’ Cup Finals against TNT Tropang Giga.

drawn by the few foreign players from Brazil, Senegal, Ivory Coast and Panama who have chosen to remain despite the war. Zorya wasn’t booed once.

Sirens and shelters

UKRAINE’S 16-team top-flight league has managed to continue, despite increasing challenges.

Matches are scheduled for early afternoon due to frequent power outages and the logistical challenges of travelling across Europe’s secondlargest country during war.

When air raid sirens interrupt play—sometimes for hours—players and fans alike head to shelters as alarms blare from loudspeakers and thousands of mobile phones.

“This season, we’ve been lucky in Kyiv, with no air alarms during our home games,” said Dynamo club spokesman Andrii Shakhov. “But it’s a different story for away games....The longest one we had lasted 4 1/2 hours because of four air alarms.” AP

Richard Bachmann and commissioners Edward Hayco, Matthew “Fritz” Gaston, Olivia “Bong” Coo and Walter Torres will also attend the ceremony.

“It is our great honor and privilege to have President Ferdinand “Bongbong” Marcos Jr. to be our featured guest at the opening ceremony of the ICF Dragon Boat World Championships,” Puerto Princesa City Mayo Lucilo Bayron said.

“His presence at the start of this big international dragon boat events truly enhances the city’s status as premier sports tourism hub in the Philippines,” Bayron stressed.

The tournament, which also serves as the main qualifying meet for the World Games in China next year, will also have Sen. Pia Cayetano and House Speaker Martin Romualdez and his wife, Tingog party-list Rep. Yedda Romualdez as guests.

guested along with bench rest shooter Richard Cases at the VIP Room of the Rizal Memorial Sports Complex.

“It’s not really our first time to host it, but it’s going to be the biggest multi-shooting event that the Philippines will be hosting for the year.”

The tournament will be held in coordination with the Philippine Practical Shooting Association (PPSA).

Game 2 is set at 7:30 p.m. on Wednesday at the Araneta Coliseum. The Tropang Giga’s unforgiving defense limited Ginebra to 2-of-21 shooting from beyond the arc and won the opener of the best-of-seven series 104-88.

That was the lowest output by Ginebra in the Governors’ Cup after averaging 101.1 points.

Cone, the PBA’s winningest coach eyeing his 26th crown, said the Gin Kings simply did not match the Tropang Giga’s intensity.

“I do not want to discuss strategy publicly, but the bottom line was we did not show a lot of fight in the game which was surprising and disappointing considering it was the Finals,” the two-time grand slam coach told BusinessMirror on Tuesday through a text message.

“I expect we will show up the better team in Game 2.”

Justin Brownlee had 23 points, Japeth Aguilar scored 14, Ralph Cu added 13, Stephen Holt made 12 points, and Maverick Ahanmisi scored 10 points, but rookie RJ Abarrientos and Scottie Thompson were just held to a combined 12 points.

Abarrientos and Thompson averaged 13 points each in the semifinals against San Miguel Beer.

“We just came out flat, not just me but the entire team. We are looking for intensity for the next game,” Abarrientos said, who was limited to 1-of-6 shooting from the three-point zone. For TNT coach Chot Reyes, a Ginebra comeback is imminent.

“They are an outside shooting team,” Reyes said, referring to Ginebra’s 36.3 three-points made average in the semifinals when they ousted San Miguel Beer in six games. “There are days when they will be going to be off, but that is not going to be everyday.” Import Rondae Hollis-Jefferson had 19 points, 10 rebounds and three blocks in Game 1, while Rey Nambatac had 18 points, 10 rebounds and seven assists. JP Erram posted 15 points, Jayson Castro scored 14, and Roger Pogoy contributed 12.

Madrid and its players stayed away from the ceremony, then vented their feelings on social media.

Rodri showed his emotion when his name was read out by former winner George Weah, putting his hands over his face.

“Incredible night for me,” said Rodri, who is out for the season after injuring his ACL last month and arrived on crutches to the ceremony. “One of my key things is I always try to improve every game.”

The 26-year-old Bonmatí retained her award after helping Barcelona win the Spanish league, the Spanish cup and the Champions League.

Bonmatí joined Barca teammate Alexia Putellas in

“His description of Robert Jaworski and his exploits showed his special bond and closeness to the Big

“I hate the Big J as I am a Crispanatic from Day One. But when I read Al’s column about him, it somehow changed my perspective about the guy.

winning two titles since the women’s trophy was first awarded in 2018. She beat her teammates Caroline Graham Hansen of Norway and Salma Paralluelo of Spain as Barcelona completed a 1-2-3.

THE Philippines will have 200 paddlers in the World Dragon Boat Championships.

COACH Tim Cone and the Gin Kings try to avoid falling into a 0-2 hole.