BusinessMirror November 20, 2024

‘Climate-caused closures could deepen learning crisis’

THE learning crisis in the Philippines and other Asian countries could worsen if climate change-induced weather disturbances lead to more school closures, according to the Asian Development Bank (ADB).

In the Climate Change and Education Playbook, ADB noted that in the Philippines alone, the extreme heat and other natural calamities were able to close schools nationwide for 32 days in School Year 2023 to 2024.

ADB noted that this will impact learning outcomes, especially if schools and children do not have “adaptive capacities.” The Manilabased multilateral development bank called for climate-resilient educational facilities.

“Making education systems climate-ready is a key policy agenda in the coming years,” said ADB Sectors Group Director General Ramesh Subramaniam. “We must make education systems climateready at various levels—from the curriculum, to infrastructure, and teacher education so that students develop the skills to enable the green transition.”

By making schools climate-resilient, the education sector could prevent learning losses, physical harm to learners and teachers, and damage to school assets that prolong school closures.

The report makes several calls to action to build climate resilience through education, such as enabling transformative climate

literacy for children and youth; and building green skills for the current and future workforce.

The ADB also cited a need to incorporate the human dimension into upcoming NDCs and support the education and training of women, disadvantaged youth and the marginalized to pursue climateresilient pathways.

“Schooling is of critical importance as an additional year of education has been linked with increases in pro-climate beliefs and behaviors,” the ADB report stated.

ADB also said governments in developing Asia must ensure that they incorporate clear, substantive measures to harness education and training in forthcoming

updates to their nationally determined contributions (NDCs) under the Paris Agreement. Doing so can ensure that education systems strategically enable countries’ paths to decarbonization based on climate literacy, green skills, and the research and development required to achieve national mitigation and adaptation goals. With the right green investments, ADB said the transition to a low-carbon economy could create more than 230 million jobs in Asia and the Pacific by 2030. Around 8 million coal industry workers in the region will need reskilling as coal industries are

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BSP: ‘GRADUAL’ EASING REMAINS THE STRATEGY

By Cai U. Ordinario @caiordinario

MACTAN, Cebu—The Bangko Sentral ng Pilipinas (BSP) has no plans to break its easing cycle despite the country’s slower-than-expected growth in the third quarter and the uncertainties surrounding the Trump administration in the United States.

However, BSP Governor Eli M. Remolona Jr. told reporters here on Tuesday that the Monetary Board will still leave room to pause in December as they remain keen on a “gradual” easing of the country’s monetary policy.

Remolona also said the reduction in policy rates will still be done in increments of 25 basis points. For next year, the BSP expects a reduction of 100 bps or less, depending on prevailing economic conditions.

By Reine Juvierre S. Alberto

P@reine_alberto

ROCURING entities may soon “add to cart” common-use supplies and equipment as the trial phase for the Philippine Government Electronic Procurement System (PhilGEPS) electronic marketplace is set to begin. Budget Secretary and Government Procurement Policy Board (GPPB) Chairperson Amenah F. Pangandaman signed Resolution

Remolona said the slowdown in the country’s economic growth in the third quarter is “an aberration” and that the fourth quarter will likely see an improvement in the economy’s performance.

Apart from the election of Trump, Remolona said the next big news will be the latest inflation print. He said the BSP expects the November inflation

“We’re still in the easing cycle. Either we cut in December or we cut in the next meeting, pero dahan dahan lang  [but this will be done gradually],” Remolona told reporters on the sidelines of the two-day 2024 BSP-International Monetary Fund Systemic Risk Dialogue.

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No. 06-2024, approving the guidelines for the pilot implementation of the PhilGEPS e-marketplace.  All branches and instrumentalities of the national government, including state universities and colleges, governmentowned and -controlled corporations, government financial institutions and local government units may procure through the e-marketplace based on their needs and within their approved budget for the contract.

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Dusit Int’l seeks continued ownership of Makati hotel

DUSIT International is currently in talks with Ayala Land Inc. (ALI) to continue owning and operating its hotel in Makati.

Shubham Chandra, area general manager for Dusit Thani Philippines and general manager of Dusit Thani Manila, told the BusinessMirror on Monday, “We’d still like to stay here [in Makati], so we’re still talking with [ALI] about it. Of course, it’s still a long way off, 2027,” referring to the expiration of Dusit’s lease contract with the property developer.

Asked about the response of ALI to Dusit’s wishes, Chandra said among the options raised is for

the property developer to keep the hotel and for the Thailand-based hospitality firm to manage it. “But we want to continue owning it. After all, this is an iconic property of Dusit in the Philippines,” he added. Chandra said this even as he confirmed Dusit International’s continued expansion in the country “although with different owners.” Outside of Makati, Dusit manages hotels in Punta Engaño, Cebu (Dusit Thani Mactan Cebu  owned by Robinsons Land Corp.) and in Lanang,  Davao City (Dusit D2 Davao owned by Torre Lorenzo Development Corp.)

See “Dusit,” A2

See “ADB,”

ERC clears 3 NGCP capex projects worth ₧38.1 billion

TBy Lenie Lectura @llectura

HE Energy Regulatory Commission (ERC) has approved three capital expenditure projects of the National Grid Corporation of the Philippines (NGCP) worth P38.09 billion. These projects are the Northern Luzon 230 kilovolt (kV) Loop Project, Bolo- Balaoan 500 kV Transmission Line Project, and NabasCaticlan-Boracay Transmission Project. These will significantly enhance the reliability and stability of the transmission grid in key Luzon and Visayas provinces.

The P17.09-billion BoloBalaoan 500 kV Transmission Line Project will serve as a backbone in the northwestern part of the Luzon Grid. It will enhance the reliability and stability of the region’s transmission network. It will also support the integration of offshore wind power and other committed renewable energy projects in the region, as well as liquefied natural gas (LNG) projects critical for energy security.

This, however, should be completed on November 30, 2026, the ERC said.

Meanwhile, the P16.8-billion Northern Luzon 230 kV Loop Proj -

ect is designed to upgrade the existing transmission corridor and harness the generation potential in the Northern Luzon provinces of Cagayan, Kalinga, Apayao, and Ilocos Norte. The project is scheduled for completion by March 31, 2028.

In the Visayas, the P 4.2-billion Nabas-Caticlan-Boracay Transmission Project will address the overloading issues in the existing Nabas Substation, Nabas-Caticlan 69kV transmission line, CaticlanBoracay transmission line, and the Manoc-Manoc 69kV Load End Substation, enhancing the reliability of power supply to the Panay

Islands in the Visayas. The NGCP was mandated to finish the said project by May 2025.

“The approval of these projects underscores our commitment to ensuring the reliability, security, and affordability of our country’s electricity supply. It is thus critical for the NGCP to ensure the efficient and timely completion of the projects so we can further boost the ability of our Grid to absorb new power capacities needed to meet the growing demand of our communities, businesses, and industries,” ERC Chairperson Monalisa C. Dimalanta said in a statement.

phasing out. Additionally, all 4.7 billion citizens in the region require basic climate knowledge and awareness.

Earlier, local economists warned that severe weather disturbances brought by climate change are threatening not only agriculture but also government infrastructure projects which could affect the country’s economic performance.

The Philippine Statistics Authority (PSA) said the economy slowed to 5.2 percent, the slowest since the second quarter of 2023. The data also showed government spending for projects slowed to 3.7 percent in the third quarter, lower than the 27.3 percent in third quarter of 2023 and 21.7 percent in the

second quarter of 2024. Socioeconomic Planning Secretary Arsenio M. Balisacan noted that the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) forecasts two to eight tropical cyclones from November 2024 to April 2025. Economists said this could disrupt the implementation of key infrastructure projects.

Unionbank Chief Economist Ruben Carlo O. Asuncion told BusinessMirror that past tropical cyclones frequent Philippine shores in July and November. This year the country experienced seven typhoons and monsoon rains which disrupted project implementation, contributing to the slowdown in GDP growth.

(See: https://businessmirror. com.ph/2024/11/08/climaterisks-to-agri-infra-to-hurtgrowth/) Cai U. Ordinario

The hospitality company also manages Torre Lorenzo’s Dusit Thani Residences Davao and Dusit Thani Lubi Plantation Resort in Mabini, Davao de Oro. Earlier, the property developer said a fourth hotel is also in the pipeline under the Dusit Princess brand.

In a news statement issued prior to the pandemic, Dusit International had announced its intention to become “one of the largest international hotel operators in the Philippines.” Then, it had signed on to manage 12 hotels, and had seven in its pipeline. Chandra confirmed the goal of Dusit International: “That’s the plan and work is in progress.”

still in the works, Ayala Land is dedicated to revitalizing the area to create a dynamic and responsive urban landscape. Further details regarding timelines and project specifics will be announced as they are finalized.”

Meanwhile, ALI, in a statement sent to this paper, said, “We are currently examining the future of various components within the Makati Central Business District as part of our continuous efforts to enhance and adapt to changing customer needs. While specific plans for redevelopment are

Among its plans for the Makati CBD is a redevelopment of the Glorietta and Greenbelt malls, the opening of Seda One Ayala at the old site of the Hotel Intercontinental Manila, as well as the reopening of Mandarin Oriental Manila at a new site at the Ayala Triangle Gardens.

Dusit Thani Manila was among the 11

luxury properties in Manila built by the Marcos Sr. administration in 1976 for the Philippines’ hosting of the International Monetary Fund-World Bank meetings. The property was first called Manila Garden Hotel, then Hotel Nikko Manila Garden after Japanese investors bought the property. Dusit International eventually made a significant investment, then officially renamed it Dusit Thani Manila in 2008 after making extensive renovations in the hotel.

In a recent report, Leechiu Property Consultants cited the bullishness of property developers about tourism in the country, setting aside larger allocations to build accommodation establishments. (See, “PHL hotel investors drawn to Bohol, El Nido, Siargao,” in the B usiness M irror , June 24, 2024. )

Ma. Stella F. Arnaldo

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Data from the Asean Automotive Federation (AAF) in January to September showed the Philippines is the fastest-growing producer of motor vehicles during the period.

However, it lags behind four Asean peers in terms of the volume of cars produced.

The Philippines produced 97,139 units of motor vehicles in the nine-month period, up 18.3 percent from the 82,092 units made in the same period in 2023.

Thailand led the pack in terms of motor vehicles produced with 1,128,026 units. This was followed by Indonesia, 881,574; Malaysia, 593,050; Vietnam, 116,077; Philippines, 97,139; and Myanmar,1,916 units.

On the motorcycles and scooter production, AAF data showed the Philippines also posted the fastest growth rate.

It produced 1,012,400 units in the January to September 2024 period, up 7.4 percent from the 942,255 units made in the same period in 2023.

Among the four Asean member countries producing motorcycles, however, Indonesia was ahead of its peers in the region in terms of volume, with 5,272,485.

This was followed by Thailand with 1,436,354 units; Philippines, 1,012,400 units; and Malaysia with 415,501 units.

Andrea E. San Juan

rate to remain within the target band of 2 to 4 percent.

On the Philippine peso, Remolona confirmed that the BSP has been intervening in the foreign exchange market. But these interventions are limited to “small amounts,” just enough to prevent a sharp depreciation of the currency.

It may be noted that since the Philippines is a net food and oil importer, a sharp depreciation in the peso or high volatility in the exchange rate, could become inflationary for the country.

“It’s inflationary [if it’s rather] sharp [and sustained], hindi kami nakikialam sa [we don’t intefere in] day-to-day movements. We are tracking the swings that take place over a few months, hindi araw araw [not daily],” Remolona said.

“Usually expected naman eh, the night before, these kinds of news will put pressure on the peso, cause the peso to strengthen or weaken;  hindi naman nagkakamali yung mga expectation, pero [ pag malakas] ang ano [swing] [The expectations are often correct, but if the swing is rather strong], we try to come in,” he also said.

Last month, despite reducing key policy rates by another 25 basis points, the Monetary Board stressed that it intends to take

“baby steps” when adjusting policy rates, especially next year. The Monetary Board reduced its Target Reverse Repurchase (RRP) Rate to 6 percent while the overnight deposit and lending facilities were accordingly adjusted to 5.50 percent and 6.50 percent, respectively. These will take place on October 17, 2024. In an earlier interview on Bloomberg, Remolona said the Monetary Board may reduce rates by 100 basis points next year. However, on Wednesday, he said this will be done in a measured manner. Key policy rates were reduced on Wednesday on account of better inflation expectations. The risk-adjusted forecast of the BSP is now lower at 3.1 percent from 3.3 percent estimated in the previous meeting of the Monetary Board. However, the BSP said, its riskadjusted outlook for 2025 was increased to 3.3 percent from the 2.9 estimated in August. The 2026 risk-adjusted forecast is now pegged at 3.7 percent, also higher than the 3.3-percent forecast made in August. The BSP’s baseline forecast for inflation was at 3.1 percent in 2024; 3.2 percent in 2025; and 3.4 percent in 2026.

(See: https://businessmirror. com.ph/2024/10/17/monetaryboard-eyeing-baby-steps-inrate-tweaks-in-2025/)

“The ‘add to cart’ feature in our government procurement systems is finally happening! With the release of the new guidelines, we are now moving forward to the trial phase of our eMarketplace,” Pangandaman said, stressing the progress in the government’s digitalization efforts in procurement systems.

The pilot phase will focus on specific common-use supplies and equipment (CSE), including motor vehicles, airline tickets, cloud computing services, and software and licenses.

The Procurement Service (PS)DBM will ensure that CSEs available in the e-marketplace are obtained from reliable sources, of the best quality and at prices advantageous to the government.

Procuring entities are also al -

lowed to source CSEs from other suppliers due to stock unavailability or when other options are more efficient, practical or economically viable.

After checking out, purchases in the e-marketplace may be paid through eWallet, government purchase card and other authorized electronic modes of procurement.  The procured items may be delivered to the procuring entity’s office address, the nearest Qualified Merchant’s dealer or store or in the PS-DBM Warehouse or Depot.  The PS-DBM will provide detailed training modules and support systems to equip users with the skills and knowledge needed to effectively use the platform. Republic Act No. 12009 or the New Government Procurement Act (NGPA) was signed into law on July 20, 2024, to modernize and enhance transparency, efficiency, and accountability across procurement processes.

Bill 8941 on Tuesday. According to Tulfo, Ecop claimed that hiring PWDs would incur “additional costs” for businesses due to the need for specialized training, facilities and equipment.  House Bill 8941, au -

proposes that companies with 1,000 employees allocate 2 percent

thored by Reps. Tulfo, Edvic Yap, Jocelyn Tulfo, Eric Yap, Ralph Tulfo and Wilbert Lee,

Dusit.

Pogos morphing in effort to stay in

By Butch Fernandez @butchfBM

SEN. Sherwin Gatchalian on Tuesday prodded the Department of Labor and Employment (Dole) to adopt a proactive approach that would lead to the cancellation of alien employment permits (AEPs) issued to foreign workers in the Philippine Offshore Gaming Operators (Pogo) industry as effectivity of the ban on Pogos draws near.

“Pogo entities are morphing into something else so they could stay in the country and continue their scamming activities,” Gatchalian noted as he interpellated on Dole’s proposed budget for 2025.

“We need a very proactive approach to cancel and eventually send these workers to their countries of origin and we need the entire government machinery to work together to cut the legal basis for these individuals to stay in the Philippines,” he added.

At the same time, Gatchalian noted that “the legal basis for Pogo operations is set to expire by the end of the year, after which a ban will take effect.”

Dole reported that about 15,819 AEPs were issued in 2024 alone.

About 36,000 AEPs have already been canceled since the President announced in July a ban on Pogos by the end of the year.

Moreover, the department assured it is coordinating closely with the Bureau of Immigration (BI) to ensure that the working visas of foreigners with Pogorelated AEPs are canceled and they are prevented from staying

illegally in the country.

At the same time, Gatchalian urged the labor department to step up its employment facilitation programs for Filipino Pogo workers to ensure that those displaced from the industry would beabsorbed by the labor market.

“This is one of the things that we are worried about—the displacement of Filipino workers,”

“So, I urge the department to continue with job fairs and other programs for local Pog workers so that displaced workers would be given meaningful jobs,” he said.

Gatchalian also cited Dole’s head count at about 27,590 Filipinos employed by Pogos.

As presiding chairman of the Senate Committee on Ways and Means, Gatchalian had aggressively advocated for the expulsion of Pogos from the country for over two years.

Estrada: Govt readiness against chemical terror attacks a must

CITING the need to ensure first responders’ readiness and capabilities in case of chemical attacks, Senate President Pro Tempore Jinggoy Estrada underscored the need to allocate funds for the purpose in next year’s national budget.

Estrada noted the lack of appropriation in the proposed P6.352 trillion national budget for mass casualty events involving chemical, biological, radioactive, and nuclear (CBRN) incidents and countering weapons of mass destruction operations.

“Can they respond to the people kung saka-sakaling may ganoong klaseng insidente?” Estrada chairman of the Senate Committee on National Defense and Security asked during the chamber’s

plenary deliberations on the proposed P265.98 billion budget of the Department of National Defense (DND) for 2025.

Estrada, who sponsored last November 6 Senate Bill 2871, or the proposed Chemical Weapons Prohibition Act inquired about the capability of the defense establishment in dealing with CBRN threats and countering weapons of mass destruction operations.

SB 2871 seeks to outlaw activities related to the use and manufacture of chemical weapons.

“Do you think the Philippines is well prepared for any eventuality?” he asked Sen. Ronald dela Rosa who was defending the budget allocation for the defense sector.

When asked to recall an incident of a chemical weapons attack, dela Rosa narrated to Estrada the 1995 Tokyo subway sarin attack where members of the cult Aum Shinrikyo released sarin gas, a highly toxic nerve agent, in the subway trains during rush hour, killing 13 people and leaving over a thousand others injured from temporary vision problems, paralysis, and even permanent damage.

“Kasikunghindinatinpopondohanito, balewala itong batas na ipinapanukala natin. If this will not be funded, the bill which I already sponsored on the floor, mababalewala ito. just hope and pray na wala naman mangyayaring ganito sa ating bansa today and in the

near future,” he said.

Estrada pointed out that in the three decades since the country became a signatory to the 1993 Chemical Weapons Convention (CWC), the Philippines has yet to fulfill its obligation to the treaty designed to eliminate chemical weapons.

“This Senate concurred in the ratification of the CWC but we have not approved the national legislation needed to fully implement the provisions of this important international treaty,” he said.

He stressed that the enactment of SB 2871 which defines offenses, sets penalties, and outlines enforcement procedures related to the chemical industry is obligated under the CWC. Butch Fernandez

House to enlist handwriting experts to unmask ‘Mary Grace Piattos’

TBy Jovee Marie N. dela Cruz @joveemarie

HE mysterious case of “Mary Grace Piattos” is merely the tip of the iceberg in a broader issue involving 158 acknowledgment receipts (ARs) that officials from the Office of the Vice President (OVP) must address and clarify, the chairman of the House Committee on Good Government and Public Accountability said on Tuesday. In a news conference, Manila Rep. Joel Chua, the committee’s chairman, disclosed that the panel is considering enlisting handwriting experts to analyze the authenticity of all 158 ARs submitted by the OVP to the Commission on Audit (COA). Chua announced that the committee will coordinate with the Philippine Statistics Authority (PSA) to verify information

about Piattos.

He said these receipts were reportedly used to account for P500 million in confidential and intelligence funds disbursed to the OVP—P125 million per quarter from late 2022 to the third quarter of 2023. The first tranche of P125 million was spent in just 11 days in December 2022.

The committee had earlier offered a P1 million reward for any credible information on “Mary Grace Piattos,” a name appearing in liquidation documents linked to the alleged misuse of government funds by the OVP.

“Mary Grace Piattos” has captured public attention for its unusual and suspicious nature, but Chua emphasized that the name is merely the tip of a larger investigation into questionable ARs. Chua highlighted numerous irregularities in the receipts, including mismatched

dates, missing signatures, and strikingly similar handwriting across different ARs. Some receipts were issued during periods when no confidential funds were available, raising concerns that they were fabricated after COA issued an Audit Observation Memorandum (AOM).

The receipts show amounts ranging from P40,000 toP400,000, but their content raised red flags.

“Although the names differ, the strokes of the signatures are identical. Even the ink appears to be from the same pen. These details make the ARs highly suspicious,” he added.

For her part, House Assistant Majority Leader Amparo Maria Zamora noted that the ARs failed to meet basic requirements such as complete names, signatures, and correct dates.

Palace: No lavish Christmas parties please

MALACAÑANG on Tuesday urged government agencies to avoid holding lavish Christmas celebrations in solidarity with the thousands of victims from the six typhoons, which hit the country since last month.

The appeal was in line with the call of President Marcos for Filipinos to help the thousands of typhoon victims nationwide.

In a brief statement, Executive Lucas P. Bersamin instructed government agencies to donate the savings from their scaled-down Christmas celebrations to aid those in typhoon-hit areas.

“An official guidance in writing need no longer be issued because we believe in the kindness of our fellow government workers, whom we fully trust can unilaterally adopt austerity in their celebration,” Bersamin said.

“The true spirit of Christmas implores us to celebrate with

compassion, to share our blessings, and to spread cheer. As a people united by love for our fellow men, we can cast away the bleakness as we celebrate in this season of joy,” he added.

He added that Christmas spirit will still be felt in areas, which were affected by the typhoons through the initiatives of the national government, including the delivery of relief goods and assistance, rebuilding damaged infrastructures, and livelihood restoration.

“The celebration of Christmas will still continue in the areas, which were hit by the series of calamities,” Bersamin said.

House to scale down holiday celebration THE leadership of the House of Representatives will scale down its holiday celebrations this year to show solidarity with communities affected by recent typhoons.

House Deputy Secretary General

Sofonias “Ponyong” P. Gabonada said the move aligns with Bersamin’s call for government agencies to avoid extravagant Christmas festivities amid ongoing calamities.

“In fact, we had plans for a big celebration for HRep Month on November 30. But the administration, under the leadership of Speaker Martin Romualdez, decided to cancel all activities in light of recent calamities,” Gabonada said.

Instead of the usual celebrations, Gabonada said the allocated funds for these activities were redirected toward relief efforts.

“All financial resources intended for those events were donated and used to purchase relief goods for the affected communities,” Gabonada explained.

Manila Rep. Joel Chua encouraged fellow lawmakers to adopt a similar approach in their districts.

“I urge all my colleagues, especially those whose districts were spared from

Pepito, Nika, Ofel death toll now at 7; 30 others injured

By Jonathan L. Mayuga @jonlmayuga

THE death toll attributed to tropical cyclones Pepito, Ofel, and Nika has risen to seven with 30 others injured, the National Disaster Risk Reduction and Management Council (NDRRMC) reported on Tuesday.

In its latest situation report on the combined effects of Pepito, Ofel, and Nika, the agency said that 495,788 families, or an estimated 1.8 million persons living in 4,974 barangays in 403 cities and towns in 34 provinces were affected.

In the aftermath of Pepito, which developed into a super typhoon before hitting Aurora at peak intensity on Sunday, 20 cities and towns declared a state of calamity.

Including the effects of Typhoons Kristine, Leon, and Marce, the number of affected persons could easily breach the 10 million mark, with 162 persons killed by floods, landslides, or pinned by fallen trees and electric posts.

Floods, landslides

OFEL, Nika, and Pepito came in successively, battering Southern Luzon and Northern Luzon alternately with violent winds, heavy rainfall, and storm surges over the last 3 weeks, triggering floods and landslides, particularly in the southern and northern provinces.

According to the NDRRMC, 719,5987 persons from the Ilocos, Cagayan Valley, Central Luzon, Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon), Mimaropa (Mindoro, Marinduque, Romblon and Palawan), Bicol and Metro Manila, were pre-emptively evacuated.

A total of 617,336 people were displaced by the tropical cyclones, and most of them have been evacuated and are currently staying in 3,176 evacuation centers.

“There are receipts with missing dates, signatures without names, names without signatures, and incorrect dates that don’t match disbursement periods,” Zamora said.

She also pointed out the uniformity in handwriting. “If you review the receipts, the handwriting for dates and details is strikingly similar. They just changed the names, and some don’t even have signatures,” Zamora added.

She also urged Vice President Sara Duterte and OVP Special Disbursing Officer (SDO) Gina Acosta to appear before the committee and address the discrepancies.

“With such significant amounts involved, it’s unacceptable that even basic requirements aren’t met. This raises serious doubts. We are asking the VP and the SDO to present themselves and provide explanations,” she said.

the typhoons, to show solidarity with areas facing severe challenges,” Chua said.

Chua noted the back-to-back challenges brought by recent calamities, such as Typhoon Kristine and Pepito, which left many areas devastated.

He emphasized the importance of simplicity during this season while keeping the true essence of Christmas in mind.

House Assistant Majority Leader and Taguig City Rep. Amparo Maria “Pammy” Zamora affirmed that simplicity has long been the norm for their celebrations.

According to Gabonada, the House leadership’s collective decision reflects a deeper commitment to prioritize the needs of typhoon victims over traditional celebrations.

“We stand united with the nation in calling for simple celebrations, aligning ourselves with the struggles of our constituents, especially in districts severely affected by the recent typhoons,” Gabonada added. Jovee

Marie N. dela Cruz and Sam Medenilla

The heavy rainfall induced by the tropical cyclones flooded a total of 218 areas in Regions 1, 2, 3, and Region 5, the NDRRM reported.

P50 million government assistance for Catanduanes

PRESIDENT Marcos Jr. on Tuesday led the distribution of more than P50 million worth of government assistance to communities in Catanduanes after the onslaught of Super Typhoon Pepito (international name Man-yi).

During the ceremony at the Virac Sports Complex, Marcos handed over a check amounting to P50 million in cash assistance from the Office of the President to the provincial government of Catanduanes.

Likewise, the Department of Social Welfare and Development (DSWD) provided food packs to the typhoon victims worth more than P600,000 and cash aid worth P2.5 million.

In his speech, Marcos assured the evacuees of continued supply of family food packs.

“Lahatpongnasa evacuation center na hindi pa makauwi ay bibibigyan po namin hangga’t kailangan niyo. Walang deadline po ito. Hangga’t kailangan ninyo na magkaroonpang food pack, magpapadala pa rin kami ng patuloy na magpadala ng food packs [We’re giving food packs to everyone in the evacuation center who could not go home yet, for as long as you need it. It has no limit. So long as you need more food packs, we will continue to send food packs],” he said.

Aside from relief goods, hygiene and medical kits are also being given, the Chief Executive said.

Houses, public infrastructure damaged

AS of Tuesday, the NDRRMC received reports that 11,759 houses and 54 infrastructure, including roads, government facilities, and flood control, were damaged.

The estimated cost of damaged infrastructure is P469,847,274.

Because of the inclement weather, 20 cities and towns were declared to be under

a state of calamity.

The NDRRMC said more than half or 51 percent, of the total 322 road sections and 101 bridges affected by the storm are now passable to all vehicles. Sections were affected.

Meanwhile, 59 percent or 52 out of 88 affected seaports have been restored. Airports have also resumed normal operation.

NEA: Electric coops sustain P40-M damage

THE National Electrification Administration (NEA) reported on Tuesday that 27 electric cooperatives (ECs) sustained over P40 million worth of damage to their power infrastructure owing to four major storms that hit the country this month.

Initial damage cost due to typhoons Marce (Yinxing), Nika (Toraji), Ofel (Usagi), and Pepito (Man-Yi) reached P40,675,916.70.

Data released by the NEA Disaster Risk Reduction and Management Department (DRRMD) as of November 18 placed at least 27 ECs operating in 21 provinces from seven regions under close and continuous monitoring in the wake of the consecutive tropical cyclones.

According to the NEA-DRRMD, Aurora Electric Cooperative, Inc.; First Catanduanes Electric Cooperative , Inc.; Nueva Vizcaya Electric Cooperative, Inc; and Quirino Electric Cooperative, Inc. underwent a temporary shutdown of their operations.

NEA said the restoration efforts continue in 22 ECs,. So far, 314 out of 376 municipalities covered by the affected ECs are either fully or partially energized.

Defying ‘disaster fatigue’ THE Office of Civil Defense (OCD) reassured the public that disaster managers and responders will continue with their duties despite the so-called “typhoon fatigue” caused by the series of consecutive typhoons that struck the country in the past few weeks.

The OCD administrator, Defense Undersecretary Ariel Nepomuceno, said that this issue is being addressed by rotating fatigued and now ailing responders from disaster response personnel who are still relatively fresh.

Assistant Secretary Cesar Idio, OCD deputy administrator for operations, meanwhile, said that the issue is being offset by the cooperation among various agencies.

“The beauty of it, however, is that you can see the cooperation of the various government agencies. They are the ones providing augmentation personnel. And our leaders—you can see our President, our Secretary of National Defense, and our Civil Defense Administrator—they are always there, inspiring our responders and managers to continue doing their jobs,” he added.

Team Albay rises anew TEAM , the humanitarian and disaster relief mission, has once again reassembled to help Catanduanes towns tnat were critically affected by Super Typhoon Pepito, a leader of the House of Representatives said on Tuesday.

Albay Rep. Jose Clemente “Joey” Sarte Salceda said medical teams, relief supplies, psychosocial support, and other essential services are now ready to deploy to the hard-hit towns of Pandan, Panganiban, Gigmoto, Caramoran, Bagamanoc, and Viga. Team Albay initiative was launched by Salceda when he was the governor in 2007. It was the first mission to arrive on the scene in Tacloban in the aftermath of Yolanda in 2013.

Team Albay was awarded the Galing Pook award in 2015 for its humanitarian missions and disaster risk reduction (DRR) efforts.

This time, Salceda said the Team Albay mission to Catanduanes is being spearheaded by Team Albay Youth Organizations (Tayo), a network of youth groups

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Wednesday, November 20, 2024

SoKor backed ‘eco-friendly’ ₧330-M shipbuilding training center to rise soon

TBy Justine Xyrah Garcia

HE Philippines, in partnership with South Korea, is set to establish a P330-million eco-friendly shipbuilding training center to create green jobs and enhance employment opportunities in the maritime sector.

The Department of Labor and Employment has signed a Memorandum of Understanding (MOU) with the Korea Marine Equipment Research Institute (Komeri) and the Technical Education and Skills Development Authority to launch the five-year program.

and volunteers mobilized for various socio-civic activities and programs.

“Spared by Typhoon Pepito, the people of Albay, through Team Albay, will help Catanduanes. Despite being in recovery mode...no, because we are in recovery mode, we know what they are going through. Catanduanes is the sentinel of the Bicol Region. It defends

The training center—which will be funded by South Korea—will equip a thousand Filipinos with specialized skills in welding, electrical work, scaffolding, painting, and other shipbuilding-related trades to meet the growing demand for expertise in sustainable marine industries.

us from the worst impacts of typhoons. We have an obligation to help,” Salceda said. Meanwhile, League of Municipalities of the Philippines (LMP) Albay Chapter president Raymond Adrian Salceda is also conferring with Albay mayors to see what support they can provide.

“We are looking at deploying vehicles and perhaps water supply support to affected towns,” said the mayor. With Jovee Marie N. dela Cruz, Lenie Lectura, Sam Medenilla, Rex Anthony Naval and PNA

“Through this partnership, we are investing in green jobs, particularly in shipbuilding, a field with vast potential for sustainable employment,” Labor Secretary Bienvenido E. Laguesma said.

“We are reducing the environmental impacts of ship design, construction, and maintenance while creating high-quality job opportunities,” he added.

Laguesma said this initiative aligns with national policies such as the Green Jobs Act and the Blue Economy Agenda, which promote sustainable development and fair employment practices.

It also supports the 2023-2028 Philippine Development Plan and the Philippine Labor and Employment Plan, both of which focus on expanding employment opportunities and increasing income potential for Filipinos.

For Tesda Director General Jose Francisco B. Benitez, this project is a “milestone” in advancing the country’s blue economy.

“This MOU ensures that human activity does not compromise the health of our marine systems and coastal environments, while also providing Filipinos with the skills needed to thrive in sustainable industries,” he said. The training center will be equipped with modern tools to ensure Filipino workers meet international standards. It is also part of the government’s push to make the Philippines a leader in eco-friendly shipbuilding, a key industry in the country’s economy.

In 2022, the Philippines was reported as the seventh-largest shipbuilder globally, contributing almost 400,000 gross tons of newly built sea and ocean-going vessels.

Well-milled rice at ₧42 per kilo good for farmers, consumers–Tiu Laurel

TBy Ada Pelonia @adapelonia

HE Department of Agriculture (DA) said retail prices of around P42 per kilo for well-milled rice would ensure a “decent return” for farmers and access to cheaper rice for Filipino consumers.

“I think well-milled rice at around the P42 per kilo will provide a happy balance between our goal of ensuring our farmers a decent return for their hard work and consumers access to affordablyprice food, especially rice,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement.

Laurel noted that the retail prices of wellmilled rice in the country were cheaper than those in other rice-producing countries such as Thailand and China.

The DA said that the price of well-milled rice in Thailand ranges from P51.95 to P132.75 per kilo, while the price is P44.47 and P88.86 per kilo in China.

Based on DA’s latest price monitoring, wellmilled prices of rice in the country ranged from P42 to P53 per kilo.

“While we aim to drive down food costs, we are also mindful of the needs of our primary stakehold -

ers—our farmers and their families, who work tirelessly in the fields but have not fully reaped the benefits of their labor,” he said.

The DA noted that in some rice-producing areas in the country, the anticipation that retail prices would fall further was being factored by rice traders to drive down palay prices.

“As a rule of thumb, the buying price of palay per kilo is usually doubled to arrive at the price of rice in the market,” it said.

The agency said rice is considered the country’s main food staple and for every P100 the average consumer spends on food, around P10 is used to buy rice. “For the bottom 30 percent of income households, a segment of the population where most farmers and fisherfolk belong, around P20 for every P100 is spent on rice.” Laurel said the DA was also considering the movement of rice in the international market along with the movement of the peso’s exchange rate. “While global prices of rice have fallen to below $500 a ton in October from more than $630 a ton in January, the peso over the same 10-month period has sharply depreciated to P58 against the US dollar from P48.”

Wednesday, November 20, 2024 A5

₧6-B shabu deal draws life for ‘fixer’ Taguba, 3 others

Valenzuela City warehouse on May 26, 2017.

Tarchived pending their arrest.

By Joel R. San Juan @jrsanjuan1573

HE Regional Trial Court (RTC) of Manila City has sentenced customs fixer Mark Ruben Taguba and two others to life imprisonment after they were found guilty of smuggling 602.2 kilograms of shabu worth P6.4 billion.

In a 37-page ruling dated November 18, 2024, Manila RTC Branch 46 Presiding Judge Rainelda Estacio-Montesa also ordered Taguba, and co-accused Eirene Mae Tatad, a and Dong Yi Shen Xi, alias Kenneth Dong to pay a fine of P500,000.

They were found guilty beyond reasonable doubt for violation of Section 4 of Republic Act No. 9165 or the Comprehensive Dangerous Drugs Act.

The case against their other co-accused namely Chen Julong, (alias Richard Tan or Richard Chen), Li Guang Feng (alias Manny Li), teejay Marcellana, Chen I-Min, Jhu Ming Jyun, Chen Rong Huan, and several other unidentified individuals, were ordered

“Every conviction for a crime should only be handed down after proof beyond reasonable doubt of the guilty of the accused for the crime charged has been adduced… In this case, the prosecution was able to discharge its burden of proving the guilty of accused Taguba, Tatad and Dong beyond reasonable doubt,” the decision read.

The shabu shipment arrived at the Manila International Container Port (MICP) on May 16, 2017 and transported on May 24, 2017 to a warehouse of Hongfei logistics owned by Chen in Valenzuela City.

The shabu shipment, which was contained inside a container van that came from China, was misdeclared as packages of cutting board, footwear, kitchenware, and of moulds.

The shipment was tipped off by the Anti-Smuggling Bureau (ASB) of the China Customs to the Philippines’ Bureau of Customs (BOC) which conducted a controlled delivery and subsequently discovered the illegal drugs during an operation at the

Teodoro, Austin visit Palawan Edca site

By Rex Anthony Naval

DEPARTMENT of National Defense

(DND) Secretary Gilberto Teodoro

Jr. and his counterpart, US Defense

Secretary Lloyd J. Austin III visited Antonio Bautista Air Base in Puerto Princesa, Palawan Tuesday.

Incidentally, Antonio Bautista Air Base is one of the nine Enhanced Defense Cooperation Agreement (Edca) sites in the country.

Last Monday, the US defense chief signed the General Security of Military Information Agreement (GSOMIA) with Teodoro and co-led the groundbreaking ceremony for the new bilateral Combined Coordination Center.

As part of his visit to the Philippines, Secretary Austin traveled to Palawan on November 19, 2024, where he and Secretary

Teodoro visited Antonio Bautista Airbase, one of nine Edca sites, as well as the Philippines Western Command, or Wescom, which leads Philippine efforts in the South China Sea,” the joint press statement said. The two defense chiefs also discussed efforts to advance operational planning and deepen bilateral and multilateral cooperation with like-minded partners in the South China Sea.

“Secretary Austin reaffirmed the ironclad US commitment to the Philippines and reiterated that the US-Philippines Mutual Defense Treaty, which extends to both countries’ armed forces, public vessels, and aircraft—including those of its Coast Guard—anywhere in the South China Sea,” the statement added.

The two officials also visited a bilateral

Diplomats grumble: What allowance increase?

By Malou Talosig-Bartolome

ANUMBER of foreign service officers and personnel are grumbling over President Ferdinand Marcos’s recent executive order, which supposedly increased their overseas allowance.

Sources who declined to be named told BusinessMirror that Executive Order No. 73 issued last October 30, 2024, did not increase, but in fact, reduced the allowances of certain foreign service personnel who will be assigned in some cities. Reached for comment, Foreign Affairs Secretary Enrique Manalo denied there will be reductions in overseas allowances.

New base rates for diplomats’ allowances

DIPLOMATS and attachés from other government agencies are given living quarters overseas, representation, education, and family allowances to cover the cost of relocating their whole families to another country.

The last time the Philippine government increased their allowances was 11 years ago, in 2013.

Some DFA officers complain that the cost of living in their respective city assignments has gone up and that sometimes, they cannot afford to live and make representations in expensive cities such as in Europe or Asia. The DFA and the Department of Budget Management recognized this problem and recommended to the President that the allowance of foreign service personnel be increased.

According to EO 73, the Overseas Allowance of all government personnel stationed abroad shall be increased annually, commensurate to their ranks, and released in four tranches. (See related story: https:// businessmirror.com.ph/2024/11/05/ phl-diplomats-foreign-service-staff-getallowance-hikes)

For example, the annual base rate of an ambassador with the highest rank of Chief of Mission 1 has increased by 17 percent or US$97,823 in the first year. In the fourth year, he/she will have a base rate of US$116,896, or almost 40 percent of the base rate in 2024. On one hand, the lowest rank of Foreign Service Staff Employee III shall have an annual base rate of US$33,796 or a 14-percent increase. In the fourth year, he/she shall get a base rate of US$39,674, or a 35-percent increase from 2024.

Index of allowances IN every city or country where the Philippines

The illegal drugs were contained in 605 plastic bags stashed inside five metal cylinders that were each packaged in wooden crates.

Tatad was the owner of EMT Trading, which was the consignee of the shipment.

During the trial, Taguba admitted that he processed and facilitated the entry of the container van through the BOC.

He also confessed that the said container was loaded in a truck of Golden Strike Logistics, Inc., a company owned by him.

“It is clear from the foregoing that Taguba played a central role in facilitating the importation of the illegal drugs. He processed the importation documents and used his logistics company Golden Logistics, Inc. to arrange for the transport of the container,” the decision said

“Taguba’s direct involvement in processing and facilitating the shipment’s entry through the Bureau of Customs is a clear overt act in furtherance of the conspiracy,” it added.

C2 Fusion Center—one of several built by US Indo-Pacific Command, in the Philippines to enhance information sharing.

“They observed a demonstration of a T-12 unmanned surface vessel, one of several unmanned capabilities that the United States has provided to the Philippine Navy through Foreign Military Financing, which are instrumental to advance the Armed Forces of the Philippines’ (AFP’s) intelligence, surveillance and reconnaissance (ISR) and maritime domain awareness (MDA) capabilities. They discussed how the AFP can further leverage innovative technologies to protect and defend Philippine sovereignty in its exclusive economic zone (EEZ),” it added.

The engagements of both the Philippine and US Defense Secretaries further reaffirm the strength of the alliance and underscore both nations’ commitment to peace, security, and shared values in the Indo-Pacific Region.

has embassies or consulates, an index is identified based on the cost of living in that particular place.

Based on the annual base rates, the DFA and DBM will compute the allowance based on the indices identified per city or country where the personnel is assigned.

For instance, in New York City, the index is 100. This means the base rate assigned to every rank will be the same (multiplied by 100 percent).

Diplomats told BusinessMirror that the problem with the latest EO was that indices for overseas allowance in 72 countries or cities with a high cost of living have decreased. Indices for living quarters allowance in 73 countries or cities also decreased.

All the efforts to increase allowances by increasing the base rate came to naught with the decrease in indices,” a senior official said.

Embassies or consulates with a notable decrease in allowance indices include:

n Australia – from 103 to 84

n Belgium – from 100 to 88

n Brazil – from 96 to 83

n Beijing, China – from 96 to 89

n Denmark – from 113 to 93

n France – from 102 to 90

n Frankfurt, Germany – from 114 to 83

n Italy – from 99 to 80

n Japan – from 123 to 81

n The Netherlands – from 95 to 87

n Norway – from 113 to 91

n Portugal – from 94 to 79

n Russia – from 110 to 79

n Spain – from 93 to 79

n Sweden – from 113 to 85

n Turkey – from 94 to 79

n United Kingdom – from 105 to 90

n Vatican – from 99 to 80

Only 17 foreign service posts saw an increase in indices.

B usiness M irror obtained an internal memo from DFA Undersecretary for Administration Antonio Morales. In the September 2024 memo, Morales flagged the “seeming distortion in compensation” in the DBM’s draft EO.

Morales noticed that the EO “appears to lump together cities where the cost of living vary.”

For instance, Morales said, Kuala Lumpur has a higher OA index than London. Manado, Indonesia’s index is equal to the indices for Tokyo, Osaka, Nagoya and Jakarta. Manado, Indonesia’s overseas allowance index is also higher than Rome, Milan, Madrid, Barcelona, Ankara, Istanbul, and the newly opened embassy in Dublin, Ireland.

As to Tatad, the trial court said she acted as consignee for the which implicated her in the conspiracy as she facilitated the entry of the illegal drugs.

The trial court did not give weight to Dong’s claim that he merely acted as consultant, whose duty was to receive the list of goods of the container from accused Li. It also dismissed Tatad’s defense that she merely permitted her company to be a consignee for the shipments of Taguba for a fee.

“These defenses, however, cannot outweigh the evidence presented by the prosecution,” the trial court pointed out.

The trial court earlier sentenced Taguba, Tatad, Dong and Fidel Anoche Dee to reclusion perpetua for importation, receipt and facilitation, and misdeclaration under the Customs Modernization and Tariff Act (Republic Act 10863) in connection with the shabu shipment.

Each violation carries a sentence of reclusion perpetua and a fine of P50 million for each individual involved.

MICT hits historic Oct milestone

By Lorenz S. Marasigan @lorenzmarasigan

THE Manila International Container Terminal (MICT) has achieved a historic milestone, handling 275,028 twenty-foot equivalent units (TEUs) in October—the highest monthly volume ever recorded at the terminal.

This surge, driven by a significant increase in foreign trade, includes a record 147,935 TEUs in imports as consumer demand intensifies ahead of the holiday season.

According to the crowdsourced database of livingcost.org, Manado is one of the least expensive cities in the world—almost comparable to the cost of living in Pasay City.

Singapore, considered one of the most expensive places for expatriates in Asia, has the same index as that of Kuala Lumpur.

“The changes in indices will result in the reclassification of foreign service posts. Those in Japan, Australia, and some in Europe will now be considered low-cost as their indices are 89 percent and lower,” Morales said in his memo.

Morales confirmed to BusinessMirror the authenticity of the internal memo but refused to comment further.

Based on UN indices

DFA Assistant Secretary for Fiscal Management Domingo Nolasco denies that the new indices will result in lower allowances for foreign service personnel.

In an interview with BusinessMirror, he explained that the adjustments in indices were based on the average 2023-24 indices of the United Nations (UN) International Civil Service Commission.

The DFA also hired a consultant, Willis Towers Watson, to survey the cost of living and allowances to each post.

Nolasco acknowledged that the indices in the EO “do not reflect the exact indices” in certain posts, but he stressed that inflation and prices are fluctuating “everyday.”

He said those already assigned in the posts will not be affected by the adjusted indices. If they will be promoted while on overseas assignments, the current index will still prevail until the end of their duty.

“Hindi talaga bababa (ang allowances). Kaya kami nagtataka, ano sinasabi nilang bababa?” Nolasco told B usiness M irror

Another official pointed out that this “non-dimunition” clause in the EO would later see a discrepancy in the allowances between the incumbents and newly-arrived officials.

“We will be seeing instances in the coming months and years where two embassy officials of the same rank will have different pays—the new one will be less. It is discriminatory,” one official said.

Nolasco disputed this scenario, pointing out that the base rate increase would cover for the seeming discrepancy.

He said the DBM has already allocated P900 million just for the adjustment of these allowances.

“Siguro nagkaroon lang ng confusion kasi wala pang IRR (Maybe there’s confusion in the absence of the implementing rules and regulations). The Secretary, after consultation with the DBM, will issue one,” he said.

Operated by International Container Terminal Services Inc. (ICTSI), MICT’s performance underscores its readiness for the peak shipping period, according to Philippine Ports Authority (PPA) General Manager Jay Daniel Santiago.

He cited the recent infrastructure upgrades that enhance the terminal’s operational efficiency, ensuring smooth cargo flow even during high-demand periods.

The investments include the replacement of aging quay cranes at Berths 3 and 4 and the addition of a sixth crane at Berth 6 to accommodate larger vessels. ICTSI is also developing Berth 8, a project expected to increase MICT’s annual capacity to 3.5 million TEUs by 2027, further positioning the terminal to handle sustained growth in trade volumes.

“These upgrades ensure our terminals are ready to handle not only the seasonal surge but also the long-term growth in trade,” Santiago said.

Despite the record-breaking throughput, MICT maintained stable operations, with yard utilization at a manageable 77 percent and gross crane productivity averaging 26 moves per hour. Santiago noted that efficiency at the terminal has been supported by a strict three- to five-day dwell time policy, ensuring that containers move out promptly to prevent congestion.

“Ports are designed to move goods efficiently--not serve as storage.”

Enhanced truck turnaround times, enabled by infrastructure improvements and coordination with local government units, have further streamlined the movement of goods.

These measures, the port chief said, are critical as Manila’s terminals brace for a seasonal spike in cargo volumes.

He added that the introduction of digital technologies such as automation, real-time cargo tracking, and improved vessel scheduling have boosted vessel productivity, ensuring timely docking, unloading, and departures, particularly during the holiday rush.

Santiago urged port users to “schedule activities during off-peak hours” to help sustain smooth operations throughout the season.

“With modern infrastructure and close collaboration among stakeholders, our port system is resilient and efficient, prepared to support the economy during the peak season and beyond.”

Brief

10. SINGH, RANJEET Booth Fabrication Specialist Consultant

Brief Job Description: Coordinates sub-contractors involved in the assembly stages. Ensures compliance with safety procedures and quality standards. Searches for the most efficient technical solutions. Basic

12.

Brief

Mandarin

Mandarin

Brief

42.

43.

Brief

Mandarin

44. DONG, WEIHAO

Brief

45. QI, JUN

Mandarin Marketing Associate

Brief

Specialist

46.

Brief

47.

Brief

and services and implements marketing plans and works to meet sales quotas.

48. HUANG, ZHENXIAN Marketing And Sales Agent

Brief

BusinessMirror

88. MA, JINGWEN Chinese Speaking Trade Marketing Specialist

Brief Job Description: Gives inputs in the analysis of program results and gives recommendations for improvement.

LUCKY PIYAO TRAVEL AND CONSULTANCY INC. 2nd Floor Avr Bldg., 5410 Beaterio St., Barangay 655, Intramuros, City Of Manila

89. DENOD, DEEPAK Assistant Consultant

Brief Job Description: To assist in the development of client deliverables, such as reports, presentations, and recommendations, based on research findings and analysis.

90. HUANG, CHUANYI Chief Marketing Officer

Brief Job Description: Developing comprehensive marketing plans aligned with the company’s objectives and target audience.

HUANG, JIEZUO Financial Consultant

91.

Brief Job Description: To conduct comprehensive financial analysis, including reviewing financial statements, assessing financial performance, and identifying areas for improvement or optimization.

92. LYU, HAO Management Consultant

Brief Job Description: Conducting thorough analyses of client organizations, industries, and market trends to identify opportunities for improvement.

93. HUANG, CANJIE Marketing Executive

Brief Job Description: Providing administrative support to the marketing team, such as scheduling meetings, managing calendars, and coordinating logistics for marketing

Qualification:

and Chinese-Mandarin languages.

Salary

Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s degree in a similar field. Able to speak and write in Vietnamese and Chinese-Mandarin languages.

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

Basic Qualification: Bachelor’s degree in a similar field. Able to speak and write in Vietnamese and Chinese-Mandarin languages.

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

Basic Qualification: Bachelor’s degree in a similar field. Able to speak and write in Vietnamese and Chinese-Mandarin languages.

Salary

Engineering or a related field. Minimum 7 years of experience in International Development and at least 5 years of experience in new business development, with demonstrated experience in the government contracting environment.

Salary Range: Php 500,000 and above

CONSTRUCTION TECHNOLOGY & DEVELOPMENT CO.,

118.

Brief

Salary

SGR

119. BHATTI, GURPINDER SINGH Finance Consultant

Brief

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121.

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123.

Mandarin Supervisor

Brief Job Description: Oversee all the activities within a specific department or area of an organization.

SONARGAON

124. SHARIKA, HAFSA ZAMAN Inventory Specialist

Brief Job Description: Managing all marketing for the company and activities within the marketing department.

SUPER FLOW SUPPLY CHAIN TECHNOLOGY INC. Unit 25d 2/f Zeta Ii Bldg.,

125.

The World

Editor: Angel R. Calso

Israeli airstrike hits Beirut residential area, killing five; US cease-fire efforts continue

BBy Sally Abou Aljoud The Associated Press

EIRUT—An Israeli airstrike slammed into a densely populated residential area in Lebanon’s capital near key government and diplomatic buildings late Monday, killing at least five people as the US pressed ahead with cease-fire efforts.

Lebanon’s state-run National News Agency said two missiles hit the area of Zoqaq al-Blat neighborhood—where local UN headquarters and Lebanon’s parliament and prime minister’s office are located.

Since late September, Israel has dramatically escalated its bombardment of Lebanon, vowing to severely weaken the Iranianbacked Hezbollah militant group and end its barrages in Israel that the militants have said are in solidarity with Palestinians during the war in Gaza.

The US has been working on a cease-fire proposal that would remove Israeli ground forces from Lebanon and push Hezbollah forces far from the Israeli border.

Lebanon’s Parliament Speaker Nabih Berri, a Hezbollah ally who is mediating for the militants, is expected to meet with US envoy Amos Hochstein in the Lebanese capital on Tuesday. The White House has not confirmed Hochstein’s visit.

Labor Minister Mostafa Bayram, who met with Berri on Monday, said Lebanon would convey its “positive position” to the latest US proposal.

The Israeli military had no immediate comment on the strike, which also wounded 24 people, according to the Lebanese Health Ministry.

Many areas in central Beirut, including Zoqaq al-Blat, have become a refuge for many of the roughly 1 million people displaced

by the ongoing conflict in southern Lebanon and the southern suburbs of Beirut. The strike also occurred near a Hussainiye, a Shia mosque.

The target of the airstrike remained unclear, and the Israeli army did not issue a prior warning. Ambulance sirens echoed through the streets as an Associated Press photographer on the scene saw significant casualties on the street.

It was the second consecutive day of Israeli strikes on central Beirut after more than a monthlong pause. On Sunday, a strike in the area of Ras el-Nabaa killed Hezbollah media spokesperson Mohammed Afif, along with six other people, including a woman. Later that day, four people were killed in a separate strike in the commercial district of Mar Elias.

The Israeli military has not said what the target of that strike was.

Minutes after Monday’s strike, Lebanon’s caretaker Prime Minister Najib Mikati said in a post on X, “All countries and decision-makers are required to end the bloody and destructive Israeli aggression on Lebanon and implement international resolutions, most notably Resolution 1701.”

UN Security Council Resolution 1701, adopted in 2006, ended a month-long war between Israel and Hezbollah and was intended to create a buffer zone in southern Lebanon. However, the resolution’s full implementation has faced challenges from both sides.

The resolution is again on the table as part of an American proposal for a cease-fire deal, aiming to end 13 months of exchanges of fire between Israel and Hezbollah.

Israeli ground forces, who invaded southern Lebanon on October 1, would fully withdraw from Lebanon, where the Lebanese army and the UN peacekeeping force UNIFIL would be the exclusive armed presence south of Lebanon’s Litani River. Hezbollah would withdraw from the area.

A Western diplomat familiar with the talks told The Associated Press there is a sense of “cautious optimism.” The diplomat, speaking on condition of anonymity to discuss behind-the-scenes negotiations, said a final deal, however, was “still in the hands” of the warring players.

Israel is said to be pushing for guarantees it can continue to act militarily against Hezbollah if needed, a demand the Lebanese are unlikely to accept. Israeli government spokesperson David Mencer said Israel would continue attacking Hezbollah infrastructure while the US and other countries led negotiations for the ceasefire. “The military campaign will continue until the immediate threat from Lebanon is removed,” he said. Also on Monday, Hezbollah launched dozens of projectiles against Israel. A rocket that hit the northern Israeli city of Shfaram killed one woman and injured 10, according to Israel’s Magen David Adom rescue services.

More then 3,500 people have been killed by Israeli fire, according to Lebanon’s Health Ministry. In Israel, 77 people, including 31 soldiers, have been killed by Hezbollah projectiles, while over 50 soldiers have been killed in the Israeli ground offensive. Israel has said it is targeting Hezbollah in order to ensure that thousands of Israelis can return to their homes near the border.

The Associated Press writer Melanie Lidman contributed from Tel Aviv, Israel.

Putin signs new doctrine that lowers threshold for using nuclear

By The Associated Press

RUSSIAN President Vladimir Putin on Tuesday signed a revised nuclear doctrine declaring that a conventional attack on Russia by any nation that is supported by a nuclear power will be considered a joint attack on his country.

Putin’s endorsement of the new nuclear deterrent policy comes on the 1,000th day after he sent troops into Ukraine on Feb. 24, 2022.

It follows US President Joe Biden’s decision to let Ukraine strike targets inside Russia with US-supplied longer-range missiles.

The signing of the doctrine, which says that any massive aerial attack on Russia could trigger a nuclear response, reflects Putin’s readiness to threaten use of the country’s nuclear arsenal to force the West to back down as Moscow presses a slow-moving offensive in Ukraine.

Asked about whether the updated doctrine was deliberately issued on the heels of the US’s

decision to ease restrictions on Ukraine using its longer-range missiles to strike Russia, Kremlin spokesperson Dmitry Peskov said the document was published “in a timely manner” and that Putin instructed the government to update it earlier this year so that it is “in line with the current situation.”

Putin first announced changes in the nuclear doctrine in September, when he chaired a meeting discussing the proposed revisions.

The new version of the document states that an attack against his country by a nonnuclear power with the “participation or support of a nuclear power” will be seen as their “joint attack on the Russian Federation.”

It doesn’t specify whether such an attack would necessarily trigger a nuclear response. It mentions the “uncertainty of scale, time and place of possible use of nuclear deterrent” among the key principles of the nuclear deterrence.

At the same time, it spells out conditions for using nuclear weapons in greater detail com -

weapons

pared to the previous version of the doctrine, noting they could be used in case of a massive air attack involving ballistic and cruise missiles, aircraft, drones and other flying vehicles. The wide formulation appears to significantly broaden the triggers for possible nuclear weapons use compared with the previous version of the document, which stated that Russia could tap its atomic arsenal if “reliable information is received about the launch of ballistic missiles targeting the territory of Russia or its allies.”

The revised doctrine envisages that Russia could use nuclear weapons in response to aggression against its ally Belarus. Belarus’ authoritarian President Alexander Lukashenko, who has ruled the country with an iron hand for more than 30 years, has relied on Russian subsidies and support. He has let Russia use his country’s territory to send troops into Ukraine and allowed the Kremlin to deploy some of its tactical nuclear weapons in Belarus.

The World

Rich nations seek financial leverage to fund climate aid for poorer countries, but concerns over debt loom large

By Seth Borenstein The Associated Press

BAKU, Azerbaijan—Just as a simple lever can move heavy objects, rich nations are hoping another kind of leverage—the financial sort—can help them come up with the money that poorer nations need to cope with climate change.

It involves a complex package of grants, loans and private investment, and it’s becoming the major currency at annual United Nations climate talks known as COP29.

But poor nations worry they’ll get the short end of the lever: not much money and plenty of debt.

Half a world away in Brazil, leaders of the 20 most powerful economies issued a statement that among other things gave support to strong financial aid dealing with climate for poor nations and the use of leverage financial mechanisms. That was cheered by climate analysts and advocates. But at the same time, the G20 leaders noticeably avoided repeating the call for the world to transition away from fossil fuels, a key win at last year’s climate talks.

Money is the key issue in Baku, where negotiators are working on a new amount for aid to help developing nations transition to clean energy, adapt to climate change and deal with weather disasters.

It’ll replace the current goal of $100 billion annually—a goal set in 2009.

Climate cash could be in the form of loans, grants or private investment

EXPERTS put the need closer to $1 trillion, while developing nations have said they’ll need $1.3 trillion in climate finance. But negotiators are talking about different types of money as well as amounts. So far rich nations have not quite offered a number for the core of money they could provide. But the European Union is expected to finally do that and it will likely be in the $200 to $300 billion a year range, Linda Kalcher, executive director of the think tank Strategic Perspectives, said Tuesday. It might be even as much as four times the original $100 billion, said Luca Bergamaschi, co-founding director of the Italian ECCO think tank.

But there’s a big difference between $200 billion and $1.3 trillion. That can be bridged with “the power of leverage,” said Avinash Persaud, climate adviser for the Inter-American Development Bank.

When a country gives a multilateral development bank like his $1, it could be used with loans and private investment to get as much as $16 in spending for transitioning away from dirty energy, Persaud said. When it comes to spending to adapt to climate change, the bang for the buck is a bit less, about $6 for every dollar, he said.

The World Bank president said all the multinational development banks could spend $125 billion on climate loans. Then those loans could be used as leverage for even more spending, several climate economics experts said.

“That’s a big lever,” said Melanie Robinson, global climate economics and finance director at World Resources Institute.

But when it comes to compensating poor nations already damaged by climate change—such as Caribbean nations devastated by repeated hurricanes—leverage doesn’t work because there’s no investment and loans. That’s where straight-out grants could help, Persaud said.

For developing nations, the talk of loans brings fear of debt IF climate finance comes mostly in the form of loans, except for the damage compensation, it means more debt for nations that are already drowning in it, said Michai Robertson, climate finance negoti -

ator for the Alliance of Small Island States. And sometimes the leveraged or mobilized money doesn’t quite appear as promised, he said.

“All of these things are just nice ways of saying more debt,” Robertson said. “Are we here to address the climate crisis, which especially small developing states, least developed countries, have basically done nothing to contribute to it?

The new goal cannot be a prescription of unsustainable debt.”

His organization argues that most of the $1.3 trillion it seeks should be in grants and very lowinterest and long-term loans that are easier to pay back. Only about $400 billion should be in leveraged loans, Robertson said.

Another method for funding climate finance could be an international tax. That could be on shipping, aviation or billion -

G20 leaders call for global pact on hunger, end to ongoing wars in Gaza and Ukraine

By Mauricio Savarese, Eléonore Hughes & David Biller The Associated Press

RIO DE JANEIRO—Leaders of the world’s 20 major economies called for a global pact to combat hunger, more aid for war-torn Gaza and an end to hostilities in the Mideast and Ukraine, issuing a joint declaration Monday that was heavy on generalities but short of details on how to accomplish those goals. Group members endorsed the joint statement but fell short of complete unanimity. It also called for a future global tax on billionaires and for reforms allowing the eventual expansion of the United Nations Security Council beyond its five current permanent members.

At the start of the three-day meeting that formally ends Wednesday, experts doubted Brazilian President Luiz Inácio Lula da Silva could convince the assembled leaders to hammer out any agreement at all in a gathering rife with uncertainty over the incoming administration of US Presidentelect Donald Trump, and heightened global tensions over wars in the Mideast and Ukraine.

Argentina challenged some of the language in initial drafts and was the one country that did not endorse the complete document.

“Although generic, it is a positive surprise for Brazil,” said Thomas Traumann, an independent political consultant and former Brazilian minister. “There was a moment when there was a risk of no declaration at all. Despite the caveats, it is a good result for Lula.”

Condemnation of wars, calls for peace, but without casting blame TAKING place just over a year after the October 7 Hamas attack on Israel, the declaration referred to the “catastrophic humanitarian situation in the Gaza and the escalation in Lebanon,” stressing the urgent need to expand humanitarian assistance and better protect civilians.

“Affirming the Palestinian right to selfdetermination, we reiterate our unwavering commitment to the vision of the two-State solution where Israel and a Palestinian State live side by side in peace,” it said.

It did not mention Israel’s suffering or of the 100 or so hostages still held by Hamas. Israel isn’t a G20 member. The war has so far killed more than 43,000 Palestinians in Gaza, according to local health officials, and more than 3,500 people in Lebanon following Israel’s offensive against Hezbollah, according to Lebanon’s Health Ministry.

The omitted acknowledgment of Israel’s distress appeared to run contrary to US President Joe Biden’s consistent backing of Israel’s right to defend itself. It’s something Biden always notes in public, even when speaking about the deprivation of Palestinians. During a meeting with G20 leaders before the declaration was hammered home, Biden expressed his view that Hamas is solely to blame for the war and called on fellow leaders to “increase the pressure on Hamas” to accept a cease-fire deal.

Biden’s decision to ease restrictions on Ukraine’s use of longer-range US missiles to allow that country to strike more deeply inside Russia also played into the meetings.

“The United States strongly supports Ukraine’s sovereignty and territorial integrity. Everyone around this table in my view should, as well,” Biden said during the summit.

Russian President Vladimir Putin did not attend the meeting, and instead sent his foreign minister, Sergey Lavrov. Putin has avoided such summits after the International Criminal Court issued a warrant that obliges member states to arrest him.

The G20 declaration highlighted the human suffering in Ukraine while calling for peace, without naming Russia.

“The declaration avoids pointing the finger at the culprits,” said Paulo Velasco, an international relations professor at the State University of Rio de Janeiro. “That is, it doesn’t make any critical mention of Israel or Russia, but it highlights the dramatic humanitarian situations in both cases.”

The entire declaration lacks specificity,

Velasco added.

“It is very much in line with what Brazil hoped for ... but if we really analyze it carefully, it is very much a declaration of intent. It is a declaration of good will on various issues, but we have very few concrete, tangible measures.”

Fraught push to tax global billionaires

THE declaration did call for a possible tax on global billionaires, which Lula supports.

Such a tax would affect about 3,000 people around the world, including about 100 in Latin América.

The clause was included despite opposition from Argentina. So was another promoting gender equality, said Brazilian and other officials who spoke on condition of anonymity because they weren’t authorized to speak publicly.

Argentina signed the G20 declaration, but also had issues with references to the U.N.’s 2030 sustainable development agenda. Its right-wing president, Javier Milei, has referred to the agenda as “a supranational program of a socialist nature.”

It also objected to calls for regulating hate speech on social media, which Milei says infringes on national sovereignty, and to the idea that governments should do more to fight hunger.

Milei has often adopted a Trump-like role as a spoiler in multilateral talks hosted by his outspoken critic, Lula.

Concrete steps for fighting global hunger

MUCH of the declaration focuses on eradicating hunger—a priority for Lula.

Brazil’s government stressed that Lula’s launch of the global alliance against hunger and poverty on Monday was as important as the final G20 declaration. As of Monday, 82 nations had signed onto the plan, Brazil’s government said. It is also backed by organizations including the Rockefeller Foundation and the Bill & Melinda Gates Foundation.

A demonstration Sunday on Rio’s Copacabana beach featured 733 empty plates spread across the sand to represent the 733

million people who went hungry in 2023, according to United Nations data.

Viviana Santiago, a director at the antipoverty nonprofit Oxfam, praised Brazil for using its G20 presidency “to respond to people’s demands worldwide to tackle extreme inequality, hunger and climate breakdown, and particularly for rallying action on taxing the super-rich.”

“Brazil has lit a path toward a more just and resilient world, challenging others to meet them at this critical juncture,” she said in a statement.

Long-awaited reform of the United Nations

LEADERS pledged to work for “transformative reform” of the U.N. Security Council so that it aligns “with the realities and demands of the 21st century, makes it more representative, inclusive, efficient, effective, democratic and accountable.”

Lula has been calling for reform of Security Council since his first two terms in power, from 2003 to 2010, without gaining much traction. Charged with maintaining international peace and security, its original 1945 structure has not changed. Five dominant powers at the end of World War II have veto power—the US, Russia, China, Britain and France—while 10 countries from different regions serve rotating two-year terms.

Virtually all countries agree that nearly eight decades after the United Nations was established, the Security Council should be expanded to reflect the 21st century world and include more voices. The central quandary and biggest disagreement remains how to do that. The G20 declaration doesn’t answer that question.

“We call for an enlarged Security Council composition that improves the representation of the underrepresented and unrepresented regions and groups, such as Africa, Asia-Pacific and Latin America and the Caribbean,” the declaration said.

The Associated Press writers Aamer Madhani in Rio de Janeiro, Edith M. Lederer at the United Nations and Isabel DeBre in La Paz, Bolivia contributed.

aires, experts, such as Robertson, suggested.

That would be politically difficult, but “the reality is that the world cannot tax up to $1 trillion of the taxpayers to make this happen, which is why we have to think about development finance and climate finance,” said United Nations Environment Programme Director Inger Andersen suggested.

Leverage from loans “will be a critical part of the solution,” Andersen said. But so must grants and so must debt relief, she added.

Bolivia’s foreign policy director and chair of the Like-Minded Group negotiating bloc Diego Balanza called out developed countries in speech Tuesday, saying they have “squarely failed to provide committed support to developing countries.”

“A significant share of loans has

adverse implications for the macroeconomic stability of developing countries,” Balanza said.

Praise and worry about G20 statement

THE G20’s mention of the need for strong climate finance and especially the replenishment of the International Development Association gives a boost to negotiators in Baku, ECCO’s Bergamaschi said. “G20 Leaders have sent a clear message to their negotiators at COP29: do not leave Baku without a successful new finance goal,” United Nations climate secretary Simon Stiell said. “This is an essential signal, in a world plagued by debt crises and spiraling climate impacts, wrecking lives, slamming supply chains and fanning inflation in every economy.”

But analysts and activists said they were worried because the G20 statement did not repeat the call for a transition away from fossil fuels, a hard-fought concession at last year’s climate talks.

Veteran climate talks analyst Alden Meyer of the European think tank E3G said the watering down of the G20 statement on fossil fuel transition is because of pressure by Russia and Saudi Arabia. He said it is “just the latest reflection of the Saudi wrecking ball strategy” at climate meetings. There’s also debate in Baku about whether to reiterate last year’s statement calling for transition away from fossil fuels.

The Associated Press reporter Sibi Arasu contributed.

UK

hits Iran with new sanctions for supplying missiles to Russia

LONDON—The UK government hit Iran with new sanctions Monday for sending ballistic missiles and other weapons to Russia to support the war against Ukraine.

The Foreign Office said it will freeze assets for Iran’s national airline and its stateowned shipping company that helped transfer weapons. It will also sanction the Russian cargo ship Port Olya-3 that delivered the missiles from Iran.

“Iran’s attempts to undermine global security are dangerous and unacceptable,” Foreign Secretary David Lammy said in a statement in advance of announcing the sanctions at the UN Security Council.

“Alongside our international partners, we were clear that any transfer of ballistic missiles from Iran to Russia would face a significant response.”

The announcement comes on the eve of the 1,000th day of the war in Ukraine and the day after US President Joe Biden authorized Ukraine to use missiles supplied by Washington to strike deeper inside Russia.

Prime Minister Keir Starmer said at the G20 summit in Brazil that “we need to double down” to support Ukraine as long as necessary. The asset freezes will restrict Iran Air’s ability to operate direct services to and from the United Kingdom and will prevent UK citizens or businesses from financial dealings with those entities, the office said. The actions follow a previous round of sanctions against Iran and Russia that it announced in September alongside Germany and France. AP

ACTIVISTS participate in a demonstration for climate finance at the COP29 UN Climate Summit on Tuesday, November 19, 2024, in Baku, Azerbaijan. AP/PETER DEJONG

BRITAIN’S Foreign Secretary David Lammy speaks at a panel on funding for Indigenous Peoples at the COP29 UN Climate Summit on Tuesday, November 12, 2024, in Baku, Azerbaijan. AP/SERGEI GRITS

Moscow warns the US over allowing Ukraine to hit Russian soil with longer-range weapons

By Illia Novikov & Samya Kullab The Associated Press

KYIV, Ukraine—The Kremlin warned Monday that President Joe Biden’s decision to let Ukraine strike targets inside Russia with US-supplied longer-range missiles adds “fuel to the fire” of the war and would escalate international tensions even higher.

Biden’s shift in policy added an uncertain, new factor to the conflict on the eve of the 1,000-day milestone since Russia began its full-scale invasion in 2022.

It also came as a Russian ballistic missile with cluster munitions struck a residential area of Sumy in northern Ukraine, killing 11 people and injuring 84 others. Another missile barrage sparked apartment fires in the southern port of Odesa, killing at least 10 people and injuring 43, Ukraine’s Interior Ministry said.

Washington is easing limits on what Ukraine can strike with its American-made Army Tactical Missile System, or ATACMs, US officials told The Associated Press on Sunday, after months of ruling out such a move over fears of escalating the conflict and bringing about a direct confrontation between Russia and NATO.

The Kremlin was swift in its condemnation.

“It is obvious that the outgoing administration in Washington intends to take steps, and they have been talking about this, to continue adding fuel to the fire and provoking further escalation of tensions around this conflict,” spokesman Dmitry Peskov said. Russia’s UN Ambassador Vassily Nebenzia went further at a UN Security Council meeting marking 1,000 days of war, saying Mos -

cow is “astounded” that the leaders of Britain and France “are eager to play into the hands of the exiting administration and are dragging not just their countries but the entire Europe into large-scale escalation with drastic consequences.”

The scope of the new firing guidelines isn’t clear. But the change came after the US, South Korea and NATO said North Korean troops are in Russia and apparently are being deployed to help Moscow drive Ukrainian troops from Russia’s Kursk border region. Biden’s decision almost entirely was triggered by North Korea’s entry into the fight, according to a US official who spoke on condition of anonymity to discuss internal deliberations, and was made just before he left for the Asia-Pacific Economic Cooperation summit in Peru.

Russia also is slowly pushing Ukraine’s outnumbered army backward in the eastern Donetsk region. It has also conducted a devastating aerial campaign against civilian areas in Ukraine.

Peskov referred journalists to a statement from President Vladimir Putin in September in which he said allowing Ukraine to target Russia would significantly raise the stakes.

It would change “the very nature of the conflict dramatically,”

Putin said at the time. “This will mean that NATO countries—the United States and European countries—are at war with Russia.”

Peskov claimed that Western countries supplying longer-range weapons also provide targeting services to Kyiv. “This fundamentally changes the modality of their involvement in the conflict,” he said.

Putin warned in June that Moscow could provide longerrange weapons to others to strike Western targets if NATO allowed Ukraine to use its allies’ arms to attack Russian territory. After signing a treaty with North Korea, Putin issued an explicit threat to provide weapons to Pyongyang, noting Moscow could mirror Western arguments that it’s up to Ukraine to decide how to use them.

“The Westerners supply weapons to Ukraine and say: ‘We do not control anything here anymore and it does not matter how they are used,’” Putin has said. “Well, we can also say: ‘We supplied something to someone—and then we do not control anything.’ And let them think about it.”

Putin has also reaffirmed Moscow’s readiness to use nuclear weapons if it sees a threat to its sovereignty.

Biden’s move will “mean the direct involvement of the United States and its satellites in military action against Russia, as well as a radical change in the essence and nature of the conflict,” Russia’s Foreign Ministry said.

President-elect Donald Trump, who takes office Jan. 20, has raised uncertainty about whether his administration would continue military support to Ukraine. He has also vowed to end the war quickly.

Ukrainian President Volodymyr Zelenskyy gave a muted response Sunday to the approval that he and his government have request for over a year, adding: “The missiles will speak for themselves.”

“The longer Ukraine can strike, the shorter the war will be,” Ukrai -

nian Foreign Minister Andrii Sybiha said Monday before the UN Security Council meeting marking the 1,000th-day milestone.

Asked whether the United Kingdom would follow the United States in authorizing use of its longer-range missiles, U.K. Foreign Secretary David Lammy, who chaired the meeting, declined to comment. He said doing so would risk “operational security and can only play into the hands of Putin.”

France’s UN Ambassador Nicolas De Riviere, whose country has also given Ukraine longer-range missiles, told the Security Council without directly saying what his country will do that “The right of Ukraine to its legitimate defense includes the possibility of striking military targets involved in operations aimed at the territory.”

Ukraine’s Sybiha said a green light from the US to use longerrange missiles against Russia “could be a game changer,” but others are less certain.

ATACMS, which have a range of about 300 kilometers (190 miles), can reach far behind the about 1,000-kilometer (600-mile) front line in Ukraine, but they have relatively short range compared with

other types of ballistic and cruise missiles.

The policy change came “too late to have a major strategic effect,” said Patrick Bury, a senior associate professor in security at the University of Bath in the United Kingdom.

“The ultimate kind of impact it will have is to probably slow down the tempo of the Russian offensives which are now happening,” he said, adding that Ukraine could strike targets in Kursk or logistics hubs or command headquarters.

Jennifer Kavanagh, director of military analysis at Defense Priorities, agreed the US move would not alter the war’s course, noting Ukraine “would need large stockpiles of ATACMS, which it doesn’t have and won’t receive because the United States’ own supplies are limited.”

On a political level, the move “is a boost to the Ukrainians and it gives them a window of opportunity to try and show that they are still viable and worth supporting” as Trump prepares to take office, said Matthew Savill, director of Military Sciences at the Royal United Services Institute in London.

The cue for the policy change was the arrival in Russia of North Korean troops, according to Glib Voloskyi, an analyst at the CBA Initiatives Center, a Kyiv-based think tank.

“This is a signal the Biden administration is sending to North

Korea and Russia, indicating that the decision to involve North Korean units has crossed a red line,” he said.

Russian lawmakers and state media bashed the West for what they called an escalatory step, threatening a harsh response.

“Biden, apparently, decided to end his presidential term and go down in history as ‘Bloody Joe,’” lawmaker Leonid Slutsky told Russian news agency RIA Novosti.

Vladimir Dzhabarov, deputy head of the foreign affairs committee in the upper house of parliament, called it “a very big step toward the start of World War III” and an attempt to “reduce the degree of freedom for Trump.” Russian newspapers offered similar predictions of doom. “The madmen who are drawing NATO into a direct conflict with our country may soon be in great pain,” Rossiyskaya Gazeta said.

Some NATO allies welcomed the move.

President Andrzej Duda of Poland, which borders Ukraine, praised the decision as a “very important, maybe even a breakthrough moment” in the war.

“In the recent days, we have seen the decisive intensification of Russian attacks on Ukraine, above all, those missile attacks where civilian objects are attacked, where people are killed, ordinary Ukrainians,” Duda said.

Easing restrictions on Ukraine was “a good thing,” said Foreign Minister Margus Tsahkna of Russian neighbor Estonia.

“We have been saying that from the beginning—that no restrictions must be put on the military support,” he told senior European Union diplomats in Brussels. “And we need to understand that situation is more serious (than) it was even maybe like a couple of months ago.”

But Slovakian Prime Minister Robert Fico, known for his proRussian views, described Biden’s decision as “an unprecedented escalation” that would prolong the war.

The Associated Press reporters Matthew Lee in Washington, Lorne Cook in Brussels, Danica Kirka in London, Hanna Arhirova in Kyiv, Edith M. Lederer at the United Nations and Karel Janicek in Prague, Czech Republic, contributed to this report.

Tens of thousands gather in Wellington to defend indigenous rights and oppose treaty law changes

By Charlotte Graham-Mclay The Associated Press

WELLINGTON, New Zealand—As tens of thousands of marchers crowded the streets in New Zealand’s capital Wellington on Tuesday, the throng of people, flags aloft, had the air of a festival or a parade rather than a protest. They arrived to oppose a law that would reshape the county’s founding treaty between Indigenous Māori and the British Crown. But for many, it was about something more: a celebration of a resurging Indigenous language and identity that colonization had once almost destroyed.

“Just fighting for the rights that our tūpuna, our ancestors, fought for,” Shanell Bob said as she waited for the march to begin. “We’re fighting for our tamariki, for our mokopuna, so they can have what we haven’t been able to have,” she added, using the Māori words for children and grandchildren.

What was likely the country’s largestever protest in support of Māori rights—a subject that has preoccupied modern New Zealand for much of its young history— followed a long tradition of peaceful

marches the length of the country that have marked turning points in the nation’s story.

“We’re going for a walk!” One organizer proclaimed from the stage as crowds gathered at the opposite end of the city from the nation’s Parliament. Some had traveled the length of the country over the past nine days.

For many, the turnout reflected growing solidarity on Indigenous rights from non-Māori. At bus stops during the usual morning commute, people of all ages and races waited with Māori sovereignty flags. Some local schools said they would not register students as absent. The city’s mayor joined the protest.

The bill that marchers were opposing is unpopular and unlikely to become law. But opposition to it has exploded, which marchers said indicated rising knowledge of the Treaty of Waitangi’s promises to Māori among New Zealanders—and a small but vocal backlash from those who are angered by the attempts of courts and lawmakers to keep them.

Māori marching for their rights as outlined in the treaty is not new. But the crowds were larger than at treaty marches before and mood was changed, Indigenous people said.

DA eyes importing veggies, possibly fish, after typhoons

TBy Andrea E. San Juan  @andreasanjuan

Eones,” Ortiz-Luis told the BusinessMirror , speaking partly in Filipino.

By Ada Pelonia @adapelonia

HE Department of Agriculture (DA) is mulling over the importation of vegetables and possibly expand fish imports to stabilize prices following the “historic” damage brought by major typhoons on local plantations.

Agriculture Assistant Secretary Arnel de Mesa said DA Secretary Francisco Tiu Laurel Jr. directed the Bureau of Plant Industry (BPI) and the High-Value Crops Development Program (HVCDP) to check the volume and supply of highland and lowland vegetables in the country.

He added that the BPI and HVCDP were tasked to provide the agriculture chief recommendations for possible strategies to augment supply within the week.

“One [possible strategy] is to check [the] supplies from other regions and secondly, possible importation of key agricultural commodities,” De Mesa told reporters in a briefing on Tuesday.

However, he maintained that the agency’s priority is still checking for other sources that could supply highland and lowland vegetables to Luzon from other regions, such as those in Mindanao and Visayas.

“The priority is to get the vegetables from other vegetable-producing areas and regions. If that will be enough to temper the prices, there is no need to import. But if there’s a necessity to import, we will do that,” De Mesa said.

The DA official explained that agricultural areas hard hit by the onslaught of successive super typhoons would be hard-pressed to recover.

He described the typhoon damage as severe, adding, “What hap -

Lawmaker pushes hike in perks, subsidies for local car, parts makers

ALAWMAKER wants Congress to expedite the passage of a measure which aims to increase the incentives and subsidies for local car manufacturers and parts makers.

“I will urge the committee chairman to already call a hearing so that we can approve this measure, so that we can bring that to the Senate and then after the Senate, the president will sign [it] into law,” Rufus B. Rodriguez, Vice Chair, House Committee on Trade and Industry told reporters on the sidelines of the Automotive Reverse Trade Fair organized by Board of Investments (BOI) on Tuesday in Pasay City.

Rodriguez said House Bill No. 4206 titled “An Act to Strengthen the Competitiveness of the Philippine Motor Vehicle Manufacturing Industry” is a measure seen to increase the subsidies, tax exemptions and provide export benefits to local car manufacturers as well as local parts makers.

Ito yung mas marami pang mga  incentives and the subsidy continues, and then the incentives because we believe that even if the government spends giving subsidy per unit to the members of the cars program, what we give in terms of money to subsidize the the production cost...it will be recovered by employment and tax system,” the lawmaker explained.

Rodriguez stressed the significance of passing this measure, saying, “cars are [no longer a] luxury now, with a lot of young people getting the good jobs; they ride the shuttle from one place to another, then they need already cars.”  The lawmaker said with this measure, the government aims to

provide incentives to more models, noting that Toyota’s Vios and Mitsubishi’s Mirage models are the only cars being manufactured in the Philippines.

“So we hope to continue to even give to more models and give some subsidy, because our cost really is high. So that is what we are going to do support the automotive industry. And my bill, which is now approved already by the Committee on Trade and Industry, approved by the Committee on Ways and Means, is now in the Committee on Appropriations,” said Rodriguez.

He said the measure is aligned with the Comprehensive Automotive Resurgence Strategy (CARS), a program intended to provide “time-bound, and performancebased fiscal support to attract strategic investments in the manufacturing of motor vehicles and parts thereof.”

“It [the law] will increase the benefits, I cannot find the amounts but there will be more other benefits…it’s in the bill,” added Rodriguez.

In his remarks at the Automotive Reverse Trade Fair, the lawmaker said he has been working with the BOI and the automotive industry since 2012 for a bill supporting automotive manufacturing.

“As a long-time advocate for automotive manufacturing, I must admit that I have mixed sentiments about the current state of the industry,” Rodriguez said.

He expressed “regrets” over the shutdown of production facilities of some automakers in the last five years and “appreciation to those who strive to maintain the Philippines as an automotive production base.”

pened is historical...extraordinary circumstances,” De Mesa said.

He recently said that vegetable prices remained elevated in the markets and might even increase further as the sector struggles to recover.

Fish, too

THE DA, meanwhile, is also mulling the additional importation of 8,000 metric tons (MT) of small pelagic fishes as successive typhoons hit the country amid the closed fishing season.

“There was a discussion yesterday on a possible importation for fish. The possible volume is at 8,000 metric tons,” Agriculture Assistant Secretary Arnel de Mesa told reporters in a briefing on Tuesday.

The agency earlier authorized the importation of 30,000 MT of pelagic fish to augment supply during the closed fishing season. However, de Mesa maintained that such import plan was not caused by any shortage. He said the fisheries sector has been affected by the successive typhoons that struck the country. “We just want to ensure that we won’t have a problem later on. Because, one, it’s the closed-fishing season. Two, the series of typhoons,” he explained, partly in Filipino.

The figures indicate that the

fisheries sector has lost 1,781 MT from Typhoon Kristine and 0.17 MT from Typhoon Nika so far.

De Mesa noted that if approved, the target arrival of the small pelagic fishes would be during the first two weeks of December. He added that the imports would include galunggong, mackerel, moonfish and bonito.

The three-month closed fishing season started in waters northeast of Palawan last November 1 and recently in the Visayan Seas and Zamboanga Peninsula on November 15. All three areas are spawning grounds for small pelagic fishes like sardines and mackerel.

Meanwhile, the Philippine Statistics Authority (PSA) said fisheries output declined by 5.1 percent in the third quarter of the year.

PSA data showed total volume of fisheries production from July to September 2024 was 965,715 metric tons (MT), lower than the 1.02 million metric tons (MMT) recorded in the same quarter of the previous year.

“Decreases in production were noted in all subsectors, namely, commercial, marine municipal fisheries, inland municipal fisheries, and aquaculture,” the PSA said in its latest fisheries situation report.

MPLOYERS Confederation of the Philippines (ECOP)

President Sergio R. Ortiz-Luis Jr. warned against requiring businesses to hire persons with disabilities (PWDs), saying adding another law on top of the existing labor laws in the country could drive investors away from the Philippines.

In a phone interview with the BusinessMirror on Tuesday, Ortiz-Luis explained that providing jobs to PWDs may come in different ways such as granting incentives to companies which opt to hire them.

However, the head of the organization of Philippine employers pointed out that this should not be made compulsory, as doing so could mean adding another law to the many existing laws in the country which he said, could drive investors away from the country.

“If you really want to help PWDs, [use] some other ways. Or, you could offer the companies incentives, so that investors, they don’t mind. It would be okay if this [policy] can create jobs, but it won’t. It will just get jobs from the more efficient

“But don’t make it compulsory because it doesn’t add anything to the business environment. It can create problems because the investors are picky. They’ll think of going to Thailand, or wherever, where there’s no such imposition…not too many laws, too many holidays, too many labor laws and the you have a legislated wage.” This explains, he said, why, “ kulelat tayo  [we’re bottom dwellers],” added the Ecop chief.

According to OrtizLuis, a lot of investors have already shifted from the Philippines to its neighbors such as Indonesia, Thailand and Vietnam amid the other issues hounding the local business atmosphere.

“Investors are leaving us… going to Indonesia, Thailand, Vietnam. With all our efforts, we still have problems. There are problems with graft and corruption, red tape, and then you add more problems,” added the ECOP chief. The Ecop head made these comments after House Rep. Erwin Tulfo expressed frustration at Ecop’s stance during the hearing on House

DOE resumes accepting RE papers via Evoss

By Lenie Lectura @llectura

THE Department of Energy (DOE) announced Tuesday that it will resume next week the acceptance and processing of renewable energy (RE) contract applications through the Energy Virtual One-Stop Shop (EVOSS) System.

Starting Monday (November 25), RE developers can submit their official letters of intent and applications for RE contracts through the DOE’s online platform, EVOSS. The processing of renewable energy applications in the EVOSS System was temporarily suspended last June 25 to allow the DOE to update and align the application process in the EVOSS in accordance with the revised omnibus guidelines governing RE

contracts issued on June 10, 2024.

“This resumption marks a significant step in advancing the country’s renewable energy goals, facilitating a more efficient project approvals while ensuring that future developments align with the updated regulatory framework.

“Through these improvements, we hope to foster greater investment and development in the renewable energy sector, contributing to the goal of renewable energy share of 35 percent by 2030 and 50 percent by 2040 in the power generation mix,” DOE Undersecretary Rowena Cristina L. Guevara said in a statement.

The five-month moratorium provided the DOE the time to update the list of active RE contracts, enhance the functionality of the EVOSS System, and streamline processes with

concerned government agencies. Additionally, a new procedure was established for the real-time updating of available areas for renewable energy service and operating contract applications.

The revised omnibus guidelines introduced new opportunities for developers to improve their work programs. One major change is the option for developers to obtain a Certificate of Authority (COA) before signing a renewable energy contract. The COA is a key step in the development process, enabling developers to secure the necessary permits and conduct essential surveys and pre-feasibility activities even prior to the official commencement of the 25-year contract. By allowing these activities to take place earlier, developers can better prepare for project implementation and

proactively address potential challenges. This streamlined approach not only accelerates project timelines but also enhances the overall efficiency of the development process.

The COA is valid for three years for offshore wind projects, biomass, geothermal, hydropower, ocean and onshore wind projects, two years for floating solar, and one year for land-based solar projects.

“With the inclusion of COA in the EVOSS application process and a cleaner list of registered renewable energy

WINDS OF CHANGE From left: Nestor Pascual (TESDA Ilocos Norte), Prima Fe Franco, PhD (OIC President, Mariano Marcos State University), Ann Margaret Francisco (Country Manager, Global Wind Energy Council), Yasunori Takamatsu (Chief Country Representative, Mitsui OSK), Rona Leigh Bueno, DBA (Head, INvest Province of Ilocos Norte), and moderator Ina Magpale-Asirit (former ERC Commissioner) respond to questions during the panel discussion on “Skills

for

Relentless storms batter PHL amidst global climate talks

Ty PHoon nika (international name Toraji) struck the eastern part of the Philippines on november 11, the same day the 29th Conference of Parties (CoP29) climate talks began in Azerbaijan. Before nika slammed into Aurora, Typhoon Marce (international name yinxing) unleashed its fury in the northern part of the country. Even before the climate summit concluded, the Philippines was hit by two more storms one of which brought gusts of up to 300 kilometers per hour (kph) and destroyed crops and homes in Catanduanes.

Mother Nature herself may be warning the parties of the dire consequences of the failure to significantly cut greenhouse emissions when three of the four storms struck the country as climate talks are underway in Azerbaijan. While the series of storms that wreaked havoc on the Philippines may not be unusual, experts have warned that this could become more frequent due to global warming. Marce, Nika, Pepito and Ofel are telling us, especially those who continue to deny the existence of climate change, that it is real and it will cause more damage if significant quantities of carbon dioxide continue to find their way into the atmosphere.

The storms that slammed into the country in recent days highlighted the findings of the 2024 World Risk Report published by the Bündnis Entwicklung Hilft, in partnership with the Institute for International Law of Peace and Armed Conflict at the Ruhr University Bochum. According to the report, the Philippines has the highest overall disaster risk. The country’s vulnerability to disasters increases due to its lack of coping and adaptive capacities.

These natural disasters and El Niño, which ravaged farmlands in the first half of the year, reduced food output. (See “Storms, hog disease slash Q3 agriculture output—PSA,” in the BusinessMirror , November 6, 2024). Farm production in July to September declined for the second consecutive quarter, according to the Philippine Statistics Authority (PSA). Prolonged adverse weather conditions and the persisting impacts of African swine fever took a toll on agriculture production in the third quarter, when it contracted by 3.7 percent.

Because of the damage caused by El Niño, typhoons and animal diseases, the Philippines is expected to increase its purchases of imported rice and meat products. However, the latest edition of the World Risk Report reminds us of the folly of relying heavily on other countries for our food requirements. Based on the 2024 report, India and Indonesia are ranked second and third, respectively, in terms of overall disaster risk.

The Philippines is witness to how India could move rice markets as spikes in international prices were attributed to the import restrictions imposed by New Delhi. Indonesia, meanwhile, is a major food exporter and any drastic cuts in its farm output could put pressure on global prices. We hope that the parade of storms and El Niño would prompt leaders who are gathered in COP29 to do what is necessary to slow global warming and shield vulnerable nations like the Philippines from its ill effects. Our own policymakers and officials from the national and local governments must also stop paying lip service to making agriculture resilient to climate change.

BusinessMirror

Construction supports Q3 growth

TTHE BUILDER

HE construction sector continues to bolster the Philippine economy, contributing substantially to the 5.2-percent gross domestic product (gDP) growth in the third quarter of 2024.

The growth, despite challenges like typhoons, brought the average expansion in the first three quarters to 5.8 percent, slightly below the government’s target of 6 percent to 7 percent.

Per the National Economic and Development Authority, the economy should grow by at least 6.5 percent in the fourth quarter to meet the government’s full-year goal. Hopefully, holiday spending, manageable inflation and lower interest rates will lead to faster expansion in the fourth quarter, although the recent typhoons already affected business activities in October and November.

The Bangko Sentral ng Pilipinas reduced the benchmark borrowing rate by a total of 50 basis points in August and October 2024 and is expected to continue its monetary easing cycle in December. This would encourage more businesses and households to take out loans for home or building construction.

Data from the Philippine Statistics Authority (PSA) show that private construction remained robust, expanding 11.9 percent in the third quarter.

Public construction, while slower at 3.7 percent due to administrative delays and typhoons, still contrib -

uted to overall growth. I hope that major infrastructure construction activities will continue despite the upcoming elections that restrict public spending.

The construction sector also played a key role in job creation, with the unemployment rate falling to 3.7 percent in September 2024. Nearly 50 million Filipinos are now employed, many in the construction industry.

Key infrastructure projects, particularly in transportation, logistics, energy and digital connectivity, are crucial for unlocking the country’s growth potential. Upcoming projects like the Laguna Lakeshore Road Network and major flood control initiatives are expected to create jobs, attract foreign investment and enhance the country’s competitiveness.

The recent typhoons underscored the importance of climate-resilient infrastructure. The government’s focus on flood control and disasterresilient projects demonstrates a proactive approach to mitigating the impact of natural calamities. By investing in these projects, the Philippines can safeguard its economic gains and ensure long-term sustainability.

The Laguna Lakeshore Road Network project is a prime example of

climate-resilient infrastructure. The 37.5-kilometer expressway will not only ease traffic congestion but also protect flood-vulnerable communities. It will incorporate climate- and disaster-resilient features to address increased rainfall, extreme weather and flooding risks.

The government has secured funding from the Asian Development Bank for the P181-billion project that will provide critical infrastructure for 3.47 million residents in Rizal, Laguna and Metro Manila.

The government aims to replicate this project all over the Philippines, especially in flood-prone provinces, per Finance Secretary Ralph Recto.

I share Secretary Recto’s belief that climate-resilient road network infrastructure is not just a luxury, but a necessity to secure a better and more sustainable future for Filipinos. These efforts embody a broader government commitment to climateresilient infrastructure to safeguard both people and economic assets in a typhoon-prone region.

Meanwhile, the newly approved Pasig-Marikina River Channel Improvement Project and the Cavite Industrial Area-Flood Risk Management Project reflect the government’s proactive stance on addressing vulnerabilities to natural calamities.

For example, the Pasig-Marikina River Channel Improvement Project involves constructing dikes/revetments, floodgates and channel dredging works. It aims to improve the middle Marikina River area, install drainage facilities and build floodgates.

These projects will reinforce flood defenses in critical areas like Metro Manila and Calabarzon, improving the resilience of key economic zones and, by extension, the

Singapore ends pursuit of money launderers who forfeited $1.4 billion

By Low De Wei & Chanyaporn Chanjaroen

SingAPoRE police ended their pursuit of 15 people involved in the country’s largest-ever money laundering scandal, after the suspects agreed to surrender a total of S$1.85 billion ($1.4 billion) worth of assets to authorities.

A total of 17 individuals, who are all foreign

The police added that investigations into the remaining two foreign nationals are ongoing, and S$144.9 million worth of assets linked to them remain seized or effectively frozen.  In response to Bloomberg queries, the police said it will withdraw Interpol notices filed against the 15 individuals. Singapore’s public prosecutor has advised that “it will be difficult to have the 17 foreign nationals extradited as their whereabouts are unknown and the evidence available may not be

The massive money laundering case has rocked the Asian financial and wealth hub, and banks, real estate agents and other institutions are still dealing with the fallout. Much of the illicit funds came from illegal gambling and unlicensed money lending in China, and the money was used to purchase luxury cars, upscale homes, golf club memberships, gold bars and other collectibles.

sufficient for extradition,” the police said.

The massive money laundering case has rocked the Asian financial and wealth hub, and banks, real estate agents and other institutions are still dealing with the fallout.

national economy.

Employment in the construction sector is another aspect of infrastructure projects’ economic impact. The PSA reported that unemployment rate eased to a record low in September 2024, supported by ongoing construction projects. The sector not only provides jobs but also fosters skill development, addressing the demand for quality jobs through public-private partnerships. The National Economic and Development Authority underscores the importance of skills development in driving productivity and improving overall economic resilience.

While public construction faces hurdles—such as administrative delays and adverse weather—the continued emphasis on flagship infrastructure projects demonstrates the government’s commitment to overcoming these barriers.

The Bangko Sentral ng Pilipinas’ recent interest rate cuts, coupled with reduced reserve requirements, are expected to spur more privatesector investment in construction, as the lower borrowing costs stimulate capital-intensive activities. This will support the recovery of the real estate sector which was somewhat affected by the exit of Philippine offshore gaming operators (POGOs). The construction sector’s role in the Philippine economy is indispensable. It directly contributes to the GDP, creates jobs and fosters sustainable development. By prioritizing infrastructure investment and climate resilience, the Philippines can secure a better future.

For feedback e-mail to senatormarkvillar@

Much of the illicit funds came from illegal gambling and unlicensed money lending in China, and the money was used to purchase luxury cars, upscale homes, golf club memberships, gold bars and other collectibles.  The 10 China-born individuals who were arrested last year have been convicted of money laundering and other offenses, and sentenced to jail terms of 13 to 17 months each. They were deported and also barred from re-entering Singapore.  Singapore earlier this year criminally charged two Chinese private bankers who had served some of the money launderers. A Singaporean driver for one of the suspects was also charged after the suspect left Singapore. with assistance from nurin Sofia/bloomberg

Ambassador Antonio L. Cabangon

Mark Villar

US moves on Ukraine, Nato may trigger nuclear war

iLITO GAGNI

S the United States, under its current administration, following a strategy of controlled escalation along the Russia-nato divide? This is the concerning notion at the forefront for observers monitoring the developments in the Ukraine conflict and within nato.

It appears that the United States is actively working to incite an anti-Russian campaign and enhance nuclear capabilities within Europe, a strategic maneuver aimed at containing Russia without putting US territory directly at risk.

This strategy hinges on the concept of “controlled escalation,” wherein Nato countries interact with Russia indirectly through Ukraine and other military measures, while steering clear of a fullscale conflict that could endanger the US mainland.

In this context, Washington’s strategic interests in the war and Nato’s military buildup in Europe suggest a deliberate course of action that could lead to further escalation, even as the US avoids direct confrontation with Russia. This needs to be tempered though given the updating of the Russian Constitution.

The updated Constitution provides a chilling new tool in its defense strategy: the right to launch a preemptive strike using unconventional weapons if Russia’s sovereignty or national existence is threatened. The geopolitical risks have been magnified.

It should be noted that Russia views Nato as a collective adversary, thus, if the conflict were to escalate to the point of using weapons of mass destruction, even an indirect involvement by the US could lead to catastrophic consequences for Nato countries.

There are telltale signs to consider. Amid the Ukrainian crisis, Nato has significantly ramped up its military capabilities. European Nato members, under US pressure, have allocated around $550 billion for military spending since 2023, with plans to increase the amount in the coming years.

This suggests that Nato sees the potential for open conflict with Russia as a serious possibility. Military experts and politicians often justify this buildup by citing the “Russian threat,” which is framed as an existential danger to Europe, particularly after Moscow’s invasion of Ukraine in 2022.

Moreover, Nato is pushing European countries to re-equip their armed forces almost entirely with American military equipment. Nations such as Germany and France are in the process of purchasing advanced US weaponry, including F-35 fighter jets, signaling Washington’s increasing influence over European defense policies.

The escalating military readiness, alongside increasing political tensions, suggests a potential scenario where Nato could find itself drawn into a confrontation with Russia. However, this situation may not immediately invoke Article 5 of the Nato treaty, which underscores the principle of collective defense within the alliance.

It states that an armed attack on one Nato member is considered an attack on all members, obligating allies to defend the attacked nation. This principle has only been invoked once in Nato’s history—after the September 11, 2001 terrorist attacks in the US. But this “escalation by proxy” strategy could lead to dangerous consequences. If Russia perceives Nato’s actions—such as the use of advanced weapons systems in Ukraine or the direct arming of Ukrainian forces—as direct involve-

Biden’s missile call isn’t enough to rally Ukraine’s allies

JoeBy Michael Nienaber, Samy Adghirni & Alex Wickham

BiDen’S decision to let Ukraine hit targets inside Russia failed to galvanize broader allied support for Kyiv, in a sign of the outgoing president’s waning influence.

As soon as it emerged that Biden would allow Ukraine’s Volodymyr Zelenskyy to attack military targets in Russia using US-made long-range weapons, attention turned to Germany, France and the UK. They also have long-range missiles that Kyiv has been pleading for.

It should be noted that Russia views NATO as a collective adversary, thus, if the conflict were to escalate to the point of using weapons of mass destruction, even an indirect involvement by the US could lead to catastrophic consequences for NATO countries.

ment, it could respond with military strikes on Nato territories, leading to a much broader and more uncontrollable conflict.

The growing militarization of Europe has not been without domestic pushback. In Germany, for instance, public opinion is increasingly skeptical of Nato’s military strategy, especially regarding the stationing of US missile systems on European soil.

A recent poll by the Civey Institute found that 50 percent of Germans fear that the deployment of US Tomahawk missiles in 2026 could lead to escalation with Russia. This has further weakened political support for Chancellor Olaf Scholz’s government, particularly in the eastern regions of Germany, where anti-war sentiment is particularly strong.

The rising skepticism among European citizens suggests a significant disconnect between Nato’s military strategy and public perception. While governments may see the need for deterrence against Russia, the public is wary of being drawn into a wider war. The presence of American weapons in Europe could make these countries prime targets in the event of a Russian counterattack, undermining the very security these military measures are meant to safeguard.

While Nato’s current approach may avoid triggering Article 5, the growing risk of escalation remains. The more Nato pushes Russia with weapons shipments, sanctions, and military deployments, the more likely Moscow is to view these actions as direct acts of aggression.

In such a scenario, Russia may decide to take preventive measures, including strikes on Nato territory. Russia’s nuclear arsenal, the largest in the world, makes this a particularly terrifying prospect. Moscow has repeatedly stated that it would not hesitate to use nuclear weapons in response to an existential threat. Given the scale of Nato’s military buildup in Europe, Russia may eventually perceive even conventional attacks on its forces or interests as an existential threat.

Thus, the presence of American missiles or Nato forces in Ukraine or neighboring countries could lead to nuclear escalation, with devastating consequences for Europe and the world.

The war in Ukraine has brought Europe to the brink of an even larger conflict, one that could spiral out of control. Washington’s strategy of controlled escalation—arming Ukraine, bolstering Nato forces in Europe, and strengthening military alliances—may be designed to contain Russia, but it also risks drawing European countries into a direct conflict.

Ultimately, both Nato and Russia must seek to prevent further destabilization and avoid a conflict that could lead to the unthinkable: global nuclear war.

German Chancellor Olaf Scholz had moved in lockstep with Biden earlier in the conflict despite concerns about retaliation from the Kremlin. The US and Germany made a joint announcement on providing battle tanks to Kyiv in 2023 and in May agreed to permit more limited artillery attacks over the Russian border.

But Scholz made clear on Monday that Biden’s decision wasn’t enough to outweigh concerns of further escalation this time around. Looming over the decision is President-elect Donald Trump, who has signaled he’ll scale back support for Zelenskiy and shift the calculus of the war.

“Many citizens in Germany are worried about security and peace in Europe,” Scholz told reporters on the sidelines of the Group of 20 summit in Rio de Janeiro as he explained why he still won’t send Kyiv long-range Taurus missiles. As a result, he said, he needs to “act prudently.”

After almost three years of fighting, there is a growing sense of fatigue among Ukraine’s allies—and among the Ukrainian population —as they approach another winter. Russian forces are advancing slowly

and steady attacks have hobbled Ukraine’s energy infrastructure.

US National Security Advisor Jake Sullivan was asked in an interview with PBS News Hour Monday if it would have made a difference if the US provided the authorization for long-range weapons for Ukraine earlier.

“Our view has been that there’s not one weapon system that makes a difference in this battle,” Sullivan said. “It’s about manpower, and Ukraine needs to do more, in our view, to firm up its lines in terms of the number of forces it has on the front lines.”

The French and British delegations in Rio were more circumspect about their stances after Biden’s decision. Prime Minister Keir Starmer’s advisers refused to say what their policy is on the use of the Britishmade Storm Shadow missiles—even though he had previously indicated he was in favor of supplying some to Ukraine.

A Ukrainian official, who asked not to be identified discussing private deliberations, said it would be a massive disappointment to Zelenskyy if Starmer failed to come through on the back of Biden’s decision.

France has already sent a small number of its long-range missiles to Ukraine but officials in Rio refused to say whether Kyiv would be allowed to use them against targets in Russia,

or whether more missiles would be delivered. They did though endorse the US decision.

“It’s indispensable to make these decisions, it’s a good decision,” President Emmanuel Macron told reporters later in the day, citing Russia’s decision to deploy North Korean troops on the battlefield as a significant escalation. “The only power escalating this conflict today is Russia.”

The problem for European leaders trying to calibrate their support for Ukraine is that US policy is set to pivot dramatically as soon as Trump takes office in January. While many Republicans in Congress have vowed to keep up support for Ukraine, Trump and his incoming team have made clear they want the conflict to end.

While the Biden administration has promised to send as much support to Kyiv as possible during its final two months in office, Trump’s incoming national security adviser, Mike Waltz, brushed off the significance of the decision on deep missile strikes on Monday. He said the US focus was bringing the two sides to the negotiating table to end the fighting.

“This is a development, but it’s a tactical one,” Waltz told Fox News on Friday. “President Trump is talking grand strategy here.”

The problem with that plan is that Russian President Vladimir Putin has shown no interest in making compromises in order to halt the fighting. He may be able to call on as many as 100,000 North Korean soldiers to bolster his forces, according to analysis circulating at the G-20, and he’s likely to interpret western talk about negotiations as a sign that his strategy of attrition

is working.

On Sunday and Monday, as the G-20 leaders were gathering in Rio, Putin unleashed a barrage of missiles across Ukraine. At least 21 people were killed while several power plants were seriously damaged, triggering power cuts throughout the country.

Zelenskyy has told allies that the way to force Putin to engage with talks is to give Ukrainian forces more firepower and put Russia on the back foot again.

“Russians do not understand just the negotiation,” Oleksandr Polishchuk, Ukraine’s ambassador to India, said in an interview in New Delhi on Monday. “Your negotiation should be reinforced with your military power.”

But the prospect of Trump reaching out to Putin is already shifting the incentives for Ukraine’s other allies, and triggering a scramble for influence ahead of potential peace talks.  Scholz urged Putin to engage in peace talks during a phone call on Friday. Turkey’s Recep Tayyip Erdogan has drafted a plan to freeze the conflict along the current frontlines. Macron sought out Russian Foreign Minister Sergei Lavrov and shook his hand at the G-20 on Monday.

“This war has consequences for the citizens of Ukraine. It has consequences for the soldiers defending the country, the Ukrainian soldiers. But of course it also has an incredible number of consequences for the whole world,” Scholz said. “That is why this war must come to an end, which can only happen if Russia ends its attack and withdraws its troops.” With assistance from Sudhi Ranjan Sen, Stephanie Lai and Romy Varghese /Bloomberg

China policymakers pledge to continue with financial opening

China’S policymakers and top regulators vowed to continue its opening up to foreign investors and firms, in their first public appearances with global financial luminaries at a major conference in hong Kong.

Speaking at Hong Kong’s third annual Global Leaders’ Investment Summit, Vice Premier He Lifeng as well as the regulators all emphasized the health of the Chinese economy and its openness to foreign investors. They also vowed to deepen mutual market access to Hong Kong.

Recent stimulus measures released by China “have proved effective,” He said in front of bank and investment executives from around the world.

China has rolled out a raft of stimulus measures since September to put the domestic economy back on its feet, followed by a promise to use more “forceful” fiscal policies next year to drive growth. It also

marks the first physical attendance of Chinese policymaker and regulators at the HKMA summit where they used to give pre-recorded speeches remotely.

Chinese officials have ratcheted up the frequency of interactions with global banks in recent weeks to gather their perspectives on the nation’s stimulus measures, Bloomberg News reported earlier. The securities regulator has especially had an interest in revisions global banks make to their economic forecasts and analyzing daily flows to understand foreign investment trends, people familiar with the matter said.

He’s speech was followed by a panel with the head of the National

Financial Regulatory Administration, Li Yunze, China Securities Regulatory Commission Chairman Wu Qing, and Deputy Governor of the People’s Bank of China Zhu Hexin.

All three underscored China will continue with its financial reforms and use Hong Kong as a bridge to global markets.

“We welcome foreign investors to invest in China and share the dividends of China’s economic development,” Zhu said. China will continue to deepen mutual market access with Hong Kong and optimize connect programs for stocks, bonds and wealth management products and actively support Hong Kong to develop its offshore yuan market, he said.

Following the debut of Chinese officials, bank heads will host other panels including Citigroup Inc Chief Executive Officer Jane Fraser, Morgan Stanley Chief Ex-

ecutive Officer Ted Pick, Goldman Sachs Chief Executive Officer David Solomon, JPMorgan Chase & Co President Daniel Pinto and more, the HKMA agenda shows. The initial spate of monetary easing, which included cutting a short-term policy rate and interests on existing mortgages, has started to filter through the economy with data for October showing a rebound in consumption. President Xi Jinping had expressed “full confidence” in meeting China’s 2024 growth target of around 5 percent.  China ramped up its fiscal support earlier this month with a 10 trillion yuan ($1.4 trillion) debt swap program to help its indebted local governments, but stopped short of unleashing new stimulus to save room to respond to a potential trade war when US Presidentelect Donald Trump takes office in January.  Bloomberg

Buyers flock to bonds after 30-year yield hits highest since May

By Ye Xie

The highest 30-year US Treasury yield in almost six months attracted buyers on Monday, helping buoy bonds as investors assess how Donald Trump’s presidential victory may affect the economy and Federal Reserve’s policy.

Yields on the longest-dated bonds hovered near 4.61 percent in New York afternoon trading after climbing as much as six basis points to 4.68 percent, the highest since late May. Flows that aided the retreat included futures block trades, while sales of new corporate bonds were expected to entail supportive hedging flows.

The price action echoes what happened Friday, when a batch of strong economic data cast additional doubt on whether the Fed will cut interest rates again next month and sent the yield on 10-year Treasuries briefly to 4.5 percent. A large block trade in 10-year note futures shortly afterward signaled that level was attractive for at least one trader.

“The starting point in yields is so elevated that it just gives you

much bigger cushion to be wrong,” said Ed Al-Hussainy, a strategist at Columbia Threadneedle.

On Monday, nine companies were selling new high-grade corporate bonds to kick off what’s expected to be the final big week until December for credit supply, which can entail hedge-related flows in the Treasury and interest-rate swap markets. Four of the offerings included 30-year tranches.

Additionally, the uncertainty over Trump’s pick for US Treasury secretary is putting pressure on the market. Trump’s transition team is considering pairing Kevin Warsh, a former Federal Reserve official, in the Treasury secretary role, with hedge fund manager Scott Bessent as director of the White House’s National Economic Council, according to people familiar with the matter.

Bonds have been declining for much of the past two months as stronger-than-expected economic data prompted traders to rein in expectations for Fed rate cuts. The selloff has largely extended since the Nov. 5 election, when Trump’s win heightened concerns over how the president-elect’s promises of steeper tariffs, lower taxes and looser regulations will impact rates.

The Bloomberg index of Treasury returns saw its year-to-date return shrink to about 0.7 percent as of Friday’s close, from a peak of 4.6 percent on Sept. 17, the day before the Fed reduced borrowing costs for the first time since 2020.

“There is a general acknowledgment that growth is strong, inflation is not completely slain, that budget deficits likely widen and that there is little reason for the long end to go down,” said Michael Contopoulos, head of fixed-income at Richard Bernstein Advisors LLC. Interest-rate swaps showed that traders see there’s almost an equal chance for the Fed to stay put or cut rates by another quarter-point at the policy meeting ending Decem -

ber 18. Investors expect the central bank’s key borrowing costs to fall to about 3.8 percent by the end of next year, or about 75 basis points below the current level. Fed Chair Jerome Powell said last week that the central bank isn’t “in a hurry” to lower interest rates.

On Friday, Bank of America’s economists predicted that the Fed will only lower interest rates by another 75 basis points to end its cycle of monetary easing at 3.875% in June. Previously, the economists led by Aditya Bhave called for a total of reduction of 150 basis points. Bhave said he and his team revised the Fed call in part due to the concern that Trump’s policy mix may push up inflation.  For strategists at JPMorgan Chase & Co., yields on short-term Treasuries notes have climbed enough to be attractive. Strategists led by Jay Barry recommended their clients going long two-year notes on Friday, saying the risks of further selloff in the short-term notes are contained, as long as the Fed doesn’t raise interest rates again. With assistance from Edward Bolingbroke/Bloomberg

Editor: Jennifer A. Ng

FDC income surges by 59%

By VG Cabuag @villygc

Filinvest Development Corp. (FDC) said its attributable income in January to september jumped by 59 percent to P9.5 billion from the previous year’s P5.9 billion.

The company attributed its latest financial results to the good performance of its banking and real estate businesses.

For the third quarter, its net income almost doubled to P3.9 billion from P2 billion last year.

Total revenues and other income for the nine months rose by 34 percent year-on-year to P86.8 billion.

Banking revenues grew 29 percent to P38.2 billion; real estate, 27 percent to P21.8 billion; power, 66

percent to P18.7 billion; and hospitality, 39 percent to P2.9 billion.

“The net income in the first nine months of 2024 was at a recordhigh for comparative periods,” FDC President and CEO Rhoda A. Huang said.

“The strong performance was across the group’s business segments and we look forward to sustain this growth trajectory for the balance of the year,” she said.

EastWest Bank’s top-line growth

was driven by a 17-percent increase in consumer loans leading to a 23-percent rise in net interest income. Consumer lending remained the bank’s core product, accounting for 83 percent of the total loan book.

This helped push net interest margin to 8.1 percent versus the 7.7 percent recorded in the same period in 2023.

FDC Utilities Inc. reported a 66-percent expansion in revenues and other income for the period, brought about by higher energy sales from its fully contracted 405-megawatt plant located in Misamis Oriental in Mindanao. The significant rise in power generation and sales was made possible by the Mindanao-Visayas interconnection project which boosted demand. Its real estate business, composed of Filinvest Land Inc., Filinvest Alabang Inc. and Filinvest REIT Corp., had 27 percent higher revenues and other income from higher residential

sales and mall rentals.

Revenues and other income from hotel operations under Filinvest Hospitality Corp. grew 39 percent due to the resurgence in domestic tourism and international arrivals.

This led to higher room occupancy and rates across its portfolio which includes seven hotels with 1,800 rooms, and two 18-hole golf courses situated in Filinvest Mimosa Plus Leisure City in Clark, Pampanga.

FHC operates three homegrown brands: Crimson, Quest and Timberland Highlands.

The Filinvest Group has allocated a total capital expenditure budget of P26 billion for the year, 61 percent of which is for real estate projects, 20 percent for power projects, 9 percent for the expansion of the hospitality business and the balance for other businesses, the company said.

ERC to hold consultations on Meralco rate reset

TBy Lenie Lectura @llectura

HE Energy Regulatory Com-

mission (ERC) will hold public consultations this week

to discuss the modifications to the regulatory rate reset of the Manila Electric Co. (Meralco).

The agency is calling on energy stakeholders to participate in the public consultation on the draft rules

amending Resolution No. 10, Series of 2021 or the Modified Rules for Setting Distribution Wheeling Rates (RDWR) as part of the rule-making process of the commission.

The virtual public consultations

this Friday will discuss the proposed amendment covering the adjustments to the regulatory years for Meralco’s 5th Regulatory Period (5RP) and all other pertinent provisions of the RDWR.

FORTUNE Life Insurance Company joined as one of the sponsors of the Rural Bankers Association of the Philippines (RBAP) for its 71st Annual National Convention and General Membership Meeting, held on November 12-13, 2024, at the renowned Fiesta Pavilion of the Manila Hotel. With this year’s theme “Rural Banks: Tayo na sa Masiglang Pagbabangko,” the event highlighted the importance of unity and a sense of community in effecting a stronger financial system in the Philippines. This annual gathering brought together banking industry leaders, stakeholders, and advocates in a shared mission to elevate rural banking as a cornerstone of economic empowerment. Fortune Life’s sponsorship and active participation in the event affirmed its dedication to financial inclusivity, supporting rural development, and building meaningful partnerships that drive sustainable growth. Representing Fortune Life were Senior Vice President of Group Sales and Related Contracts Virgilio Aqui-

A call for nation building

IHad an eye-opener a couple of weeks back.

a business opened in a certain marketplace and somehow the whole area was energized. It was such an amazing sight to see how one business can positively affect other businesses in the area. Usually, the ones who are beaming with joy and excitement were the new business owners and their guests.

However, on this particular occasion, even other mall vendors were delightfully excited. When I inquired about my observation, their response blew my mind—

“this new business is bringing more people in this place, and it increases our sales as well.”

Isn’t this a form of nation building?

What is nation building? a nd so I began to Google it.

Nation-building is the process of developing a nation, with the government acting as the principal mover in strengthening and rebuilding political, economic, security and social institutions. Yet when you look closer, nation building is not just a government thing because it can only be truly achieved once we all rally behind it. But where do we begin?

There are many facets of nation building. But as sales leaders, perhaps we can focus on strengthening the area of entrepreneurship, and in our own little way espouse the idea of development through business.

The entrepreneur spirit

WH aT I witnessed two weeks ago was a dream come true for a couple in Cabuyao, Laguna, who toiled for decades in other countries just to provide for their family.

They’re now legitimate business owners who are able to help

hundreds of others to also achieve their own “dream come true.” a nd not only that, their business is also able to spur the growth of other businesses in the area.

The entrepreneurial spirit is a mindset that embraces change—a departure from poverty and lack. But it is not a selfish kind of development. It is a way of thinking that also involves the building-up of others; that in order to achieve genuine economic stability, one entrepreneur must help another.

This is nation building.

A call for nation building a S a sales leader and trainer, I sometimes find myself asking this question: “Have I made an impact”? Perhaps now we can.

Let’s help ignite the entrepreneur spirit of this nation by promoting a resilient mindset through business, and pushing for businesses that can truly help alleviate lives, and business structures that are replicable and sustainable. at the same time, we must be vigilant against scammers and those who prey on people’s aspirations for success. This is a call for nation building.

a fter all, this is the only nation we have, hence we must see to it that our children’s children, and the generations that will follow will have a stronger nation to call home.

Alexey Rola Cajilig is the president of Arcway Consultancy Inc., executive director of ARC Docendi and senior vice president and chief operations officer of EM-Core Dotnet Inc. Cajilig is also a sales leadership coach, strategic sales operations consultant, Christian motivational speaker, human ecologist and author of “The Effective Seller.” He is also the creator of “ARCH Styles,” a behavioral and personality assessment tool. If you have questions and suggestions, you may send an e-mail to alexey.cajilig@gmail.com.

Digital-ready women micro entrepreneurs supported

THE Standard Chartered Bank (SCB) Philippines recently launched its Lifting Participation of Women Youth through Micro Entrepreneurship and digital adoption program in partnership with microfinance institution a lalay sa Kaunlaran Microfinance Social development Inc. (a SKI). Under SCB’s global program “Futuremakers,” the bank aims to promote greater inclusion by improving the economic participation of women in the community.

The program, which runs for three years, provides access to microfinancing to over a hundred women-youth in selected provinces in Region 3 including Nueva Ecija, Bulacan, aurora, Pampanga and Tarlac with loan amount ranging from P50,000 to P100,000 at zero interest with longer repayment terms. The project enables women microentrepreneurs in these areas to use the funds to grow and expand their start-ups or existing businesses on digital adoption like e-commerce, e-wallet, and use of social media platforms for selling and marketing. The program also provides capability trainings on digital technology, business management and budgeting.

“Through this microfinancing program, the bank is able to promote wider financial inclusion by supporting women-led micro enterprises, giving them more market presence for their businesses,” SCB Head of Corporate a ffairs, Brand and Marketing Mai Sangalang was quoted in a statement by the lender as saying. “Through Fu-

Fruitas Holdings adds roasted chicken chain to its portfolio

By VG Cabuag @villygc

FRUITAS Holdings Inc. has formally entered the roasted chicken segment after it acquired a majority stake in Bigboks Enterprises Inc., which served as the acquisition vehicle for the assets related to the latter’s “Mang Bok’s” business.

The company said its whollyowned subsidiary Negril Trading Inc. has acquired a 60 percent stake in Boksbro Inc., the sole proprietary owner of the “Mang Bok’s” trademark. Fruitas did not disclose the acquisition price. Private individuals have

acquired 38.75 percent of Bigboks while Lester C. Yu, Fruitas president and CEO, bought 1.25 percent. Yu subscribed to a nominal number of shares in Bigboks to qualify as board director and part of senior management post-reorganization,

the company said.

“Our family continues to grow larger and more fruitful. Bringing ‘Mang Bok’s’ into the diverse portfolio of House of Fruitas is an exciting opportunity for us. This acquisition perfectly aligns with our commitment to excellence and our customercentricity approach. We are dedicated to providing delicious and accessible food options that truly resonate with the heart of Filipino culture,” Yu said.

The acquisition includes all assets, including inventories, equipment, leasehold improvement, transportation equipment, intellectual property rights/trademark including brand registrations, know-how, recipes for all past and current products and certain products under research and development of Mang Bok’s, and process/menu manual, franchise ownership grant/rights, contractual

rights to suppliers and lessor including security deposits at the time of acquisition, the company said.

The Mang Bok’s food chain was established in September 2002 and has continued to be a popular choice among consumers for its succulent roasted chicken and pork belly. Its stores offer freshly roasted chicken and pork products with a selection of fried items and affordable rice meals to serve a wide range of customers. The company said the integration of Mang Bok’s into Fruitas is expected to create synergies across its brands, enhancing overall customer experience and satisfaction.

“The group also aims to leverage its extensive retail network and operational expertise to elevate the brand while maintaining the quality and taste of Mang Bok’s that the Filipino consumers have come to love.”

US small-business optimism rose in weeks before polls

US small-business optimism rose in October on brighter views for the economy in the lead-up to the election.

The National Federation of Independent Business sentiment index rose 2.2 points to 93.7, matching the highest reading since early 2022. The group’s uncertainty index climbed to a fresh record, which will likely subside now that the election is over.

Nine of the 10 components that make up the sentiment gauge increased in October, led by a 7-point improvement in the outlook for business conditions. That metric is now close to turning positive for the first time since donald Trump was in office, which would signify that a greater share of respondents expect the economy to improve rather than worsen.

Most of the improvement is probably due to politics, as betting websites showed Trump as a favorite ahead of the election,

according to Pantheon Macroeconomics.

“Roughly 70 percent of the rise in the headline was due to four components: good time to expand,

expectations for the economy, sales, and earnings,” Pantheon’s Oliver a llen wrote in a note. “Those components often surge when political news favors the GOP, for example,

after donald Trump’s win in 2016. Expect a much bigger surge in the NFIB this month.”

Businesses were less pessimistic about sales expectations, with the smallest share seeing lower sales in the coming months in almost a year, according to NFIB. However, the trend to date was more bleak, with the greatest share reporting lower sales in the last three months since July 2020. While firms continued to cite inflation and labor quality among their top problems, taxes ranked close behind. That may ease with Trump’s proposal to lower the corporate tax rate.

Owners seemed to have less difficulty attracting good talent for open positions in October. Some 46 percent reported finding few or no qualified applicants, the least since early 2021. That was also the last time that job vacancies were as low as they are now. Bloomberg News

Holiday outlooks due from retailers in test of US consumer

Lturemakers by Standard Chartered, we are able to help more disadvantaged youth, particularly women, to be empowered through greater economic participation.”

a SKI’s partnership with Standard Chartered Bank recognizes the vital role of youth in driving microentrepreneurship while embracing digital innovation. The project provides our beneficiaries with the necessary tools, skills, and opportunities they need to thrive in today’s rapidly evolving economy,” a SKI Executive d irector Jane Manucdoc was quoted in the statement as saying.

Bank employee volunteers recently visited program beneficiaries in aurora, Nueva Ecija and Tarlac and conducted learning sessions on product marketing and entrepreneurship.

according to a survey conducted by the a sian development Bank (adB) in 2023, the micro, small, and medium-sized enterprise (MSME) sector is the driving force of the Philippine economy, accounting for 40 percent of gross domestic product and 63 percent of total employment. a s of 2020, the sector had more than 950,000 MSMEs, the majority of which were owned by women. However, the study also shows that Women MSMEs continue to face barriers and obstacles to accessing and using financial services and products, including digital financial services. Futuremakers seeks to address these gaps by providing access to low-interest funds and enabling them to utilize the digital space to grow their businesses.

a ST week’s selloff, which comes on the heels of what has been a generally successful earnings season for Corporate america, has investors bracing for one final test: a reading on the state of the consumer from a series of retail bellwethers who report in the coming days.

Not only will the retailers provide projections for the key holiday shopping season, they will likely face new questions about the impact of President-elect donald Trump’s proposed tariffs plans. Walmart Inc. is set to report on Tuesday, followed by Target Corp., TJ Maxx owner TJX Cos. and a slew of other retailers.

Their outlooks will be critical for investors, given consumer spending powers two-thirds of the US economy and the current quarter is typically the strongest time of the year for retailers. a negative surprise may take a toll on the broader equity rally, which has pushed the S&P 500 to 51 records this year, the most recent coming last week in the wake of Trump’s election victory.

“It has a big impact on investor sentiment, whether these companies are able to continue to show a consumer that’s in good health,” said Michael a rone, chief investment strategist at State Street Global advisors for the US SPdR ETF business. “I think that consumers will likely continue to surprise on the upside. a nd I think that data will likely continue to be a bullish sign for the rally.”

Holiday spending

TO be sure, retailers will have to share the spotlight with Nvidia Corp.

on Wednesday, as the chipmaker will post quarterly results after the market closes. Otherwise, it’s the group’s holiday outlooks that will be top of mind for investors.

While sales during the traditionally high season for retailers are expected to grow on a year-over-year basis, they will likely do so at the slowest pace since 2018, according to a Bloomberg Intelligence analysis of industry forecasts. Retailers also have less time to capture consumer spending, with five fewer shopping days between Thanksgiving and Christmas this year than in 2023.

To a rone, retailers will likely take a conservative approach in setting expectations for the fourth quarter, with consumers stretched amid still stubborn inflation. But he also wouldn’t be surprised to then see companies beat those muted forecasts, he said.

Mari Shor, senior equity analyst with Columbia Threadneedle, agrees.

“What we’ve seen with the consumer throughout the year is that the consumer does show up for key events,” she said. “I do think it will be a good holiday, but I also think the consumer is going to remain very value focused.”

Shor expects volatility around retailers’ third-quarter results. Unseasonably warm weather in parts of the US likely dented sales of coats and other cold-weather items, while uncertainty around the presidential election weighed on consumer sentiment, she said.

US retail sales advanced in October, boosted by a jump in autos purchases, Commerce department data

showed Friday. September’s data was also marked up substantially.

Looking ahead, Shor is positive on companies that can attract consumers with innovative products, like abercrombie & Fitch Co. and sneaker makers On Holding aG and deckers Outdoor Corp. She also sees Costco Wholesale Corp., a mazon.com Inc. and Walmart as well positioned for the holiday season, as they offer shoppers value and convenience, she said.

Shares of Walmart are up 61 percent this year amid a string of strong earnings reports, but analysts need evidence that this will continue to be the case. More broadly, a basket of 78 retail stocks has trailed the stock market, rising 9 percent in 2024, compared with a 23 percent gain in the S&P 500 during that time.

Tariff threat

WITH Trump returning to the White House, tariffs are a renewed risk for retail stocks in the months ahead. He’s proposed raising tariffs to 60 percent on goods imported from China and to 20 percent on items from other countries.

Trump’s tariff plans would impact six key consumer categories including apparel, toys, furniture, household appliances, footwear and travel goods, according to a study conducted by consulting firm Trade Partnership Worldwide LLC. The proposed tariffs on these categories alone would reduce a mericans’ spending power by as much as $78 billion every year the tariffs are in place, according to the report.

Shor at Columbia Threadneedle sees tariffs as potentially a “real issue” for retailers, particularly dollar stores and home furnishings and consumer electronics companies given their exposure to China. She questions whether retailers would be able to pass higher costs down to a mericans without hurting consumer demand, especially after many companies already raised prices in recent years.

Retailers are likely to use their upcoming earnings calls to discuss their tariff mitigation strategies, according to John Zolidis, founder of consumer-focused investment adviser Quo Vadis Capital.

“You’re going to hear companies talking about where they’re exposed, what they’re doing, how fast they can move, and without giving specific numbers because it will be impossible to quantify anything given the lack of detail at this point,” he said.

While tariff plans have yet to be solidified, he anticipates companies are generally in a better position to react than they were under the first Trump administration given they’ve had more time to prepare contingency plans. a nd with the election out of the way and the Federal Reserve on track to continue its easing program, he’s more optimistic about the outlook for consumer spending.

“Just like Wall Street, consumers don’t like uncertainty,” he said.

“I think you have potentially a good setup for short-term consumer behavior, especially in a falling interest rate environment as we close out the year.” Bloomberg News

ShopperS CREDIT: BloomBERg NEws

Editor: Dennis D. Estopace

Rich nations’ climate aid must go to at-risk countries–ex-BOJ chief

By Cai U. Ordinario @caiordinario

MACTAN, Cebu—The Philippines and other Pacific island economies need more support for climate change adaptation measures from the international community, according to the former governor of the Bank of Japan.

Haruhiko Kuroda, who ended his 10-year term as Japan’s central bank governor last year, backed up his call with the view that the Philippines and Pacific island economies suffer the brunt of the effects of erratic changes in climate.

In the keynote session of a 2-day meeting organized by the Bangko Sentral ng Pilipinas (BSP) and the International Monetary Fund (IMF), Kuroda said these territories suffered from the devastating effects of global warming such as sea level rise and frequent typhoons. The latter has led to lost lives and destruction of property and livelihoods, he added.

“In that sense, in those countries [that] are seriously affected by global warming and sea level rise, I think adaptation is quite important and must [be supported] not only [by] MDBs but also the bilateral aid [from] developed countries should be directed to adaptation efforts by developing countries like the Philippines and Pacific Island countries,” said Kuroda, who also served previ-

ously as president of the Asian Development Bank (ADB). He also lamented that while support from the international community for climate change mitigation efforts have doubled, the same could not be said for adaptation efforts.

It was raised during the Keynote session of the 2024 BSP-IMF Systemic Risk Dialogue here that while the Philippines only accounts for a fraction of the greenhouse gas emissions globally, the country is considered among the most vulnerable to climate change.

This month, the Philippines experienced successive typhoons which all made landfall and caused considerable damage to the agriculture and infrastructure sector, not to mention the death of those Filipinos left vulnerable to floods and landslides.

“I think the Philippines should be helped by the international community, including the MDBs, particularly for adaptation efforts. That is really crucial. And that point has been well argued by the Filipino government. But unfortunately, at

this moment, the International community has not much committed to redouble the effort for adaptation,” Kuroda said.

Meanwhile, apart from climate change, Kuroda said Asian countries like the Philippines are also vulnerable the changing demographics of the region.

He noted that Japan, Korea, China, Taiwan, and those in East Asian are seeing their populations decline while Indonesia, the Philippines, India, Pakistan, Southeast Asian and South Asian countries are seeing rapid population growth.

This is leading to either a lack of workers or too many workers that could not be absorbed by domestic labor markets.

“One way to solve these diabolical demographics is labor moving from population increasing countries to population declining countries. And also, labor intensive industries moving from population declining countries to population increasing countries in Asia,” Kuroda said.

He admitted that this will be “quite challenging” and would require countries to forge greater collaboration and cooperation as growth and the welfare of milions will depend on this.

Climate change and the demographic challenge were among the systemic risks identified by Kuroda. Systemic risks are events that have the potential to cause failure in financial systems and severe economic downtrend.

BSP Governor Eli M. Remolona Jr. noted that there are many aspects of systemic risk that the conference explored.

The discussion on the non-bank financial sector, for example, recognized that “there is much diversity within [this] sector, just as there are interlinkages between non-banks and banks.”

He likewise described technology as “an enabler for the non-bank financial market, …something that banks have embraced, and… is redefining the demands of the consumer.”

Apart from possible contagion risks, Remolona also cited communication as an important initiative. He has frequently warned of “false narratives.”

The BSP chief added that “without proper communication, we risk sharp reactions from stakeholders, creating the cliff effects that we certainly wish to avoid.”

According to the BSP, audiovisual presentations prepared for the conference indicated that nonbank intermediation has grown significantly since the global financial crisis of 2007 to 2009. Estimates show that it is already as large as banking intermediation at the global stage, the central bank’s documents stated.

These presentations also pointed out that technology benefits financial consumers, but it also asks the financial authorities to revisit key central bank functions.

The 2024 BSP-IMF Systemic Risk Dialogue held here brought together a wide range of market stakeholders. Senior financial authorities were joined by corporate CEOs, market practitioners and analysts, bankers, economists, as well as officials from regional and global multilateral agencies.

Rural bank, tech firm partner for inclusion in Bicol

HMOs sustain income growth in third quarter

IBy Reine Juvierre Alberto @reine_alberto

NCREASED membership fees sustained the profit growth of health maintenance organizations (HMOs) in the third quarter of 2024.

Latest data from the Insurance Commission (IC) showed that the net income of the HMO industry reached P800.9 million from January to September 2024. This is a recovery from the P2.146-billion loss it suffered during the same period last year.

Membership fees amounting to P56.702 billion accounted for 95.06 percent of the P59.646 billion worth of nine-month revenues.

Year-on-year, revenues went up by 22.50 percent from P48.693 billion while membership fees increased by 20.65 percent from P46.997 billion. The increase in revenues managed to outweigh the expenses, with healthcare benefits and claims amounting to P46.666 billion as of the end of September, the IC data showed. This grew by 14.05 percent from P40.918 billion in the same period in 2023.

Among the 27 HMO companies assessed, Insular Health Care Inc. posted the highest net income worth of P212.106 million, followed by Asalus Corp. (Intellicare) and Avega Managed Care Inc. with P185.401

million and P179.776 million, respectively.

More HMO firms also recorded net losses, with Medicard Philippines Inc. reporting the highest at P141.065 million. Medicard placed third with the highest benefits and claims worth P6.652 million during the period. Other HMOs that reported losses were: Pacific Cross Health Care Inc.; Getwell Health Systems Inc.; Health Delivery System Inc.; Health Plan Phils. Inc.; Optimum Medical and Healthcare Services Inc.; MI Healthcare Inc.; Health Care & Development Corp. of the Philippines; and, Carewell Health Systems Inc. Meanwhile, the HMO industry’s total assets increased by 18.42 percent year-on-year to P75.872 million as of the third quarter from P64.071 million in the same period last year. Invested assets also went up by 11.57 percent to P20.609 million from P18.472 million in the third quarter of 2023. Total liabilities also rose to P64.198 million, 19.64 percent higher than the P53.657 million recorded a year ago. In the two previous years, the HMO industry suffered a net loss of P4.269 billion and P1.435 billion, respectively. It was only in the first quarter of 2024 that HMO firms started to recover from losses, posting a net income of P6.8 million, coming from a loss of P319 million a year ago.

A Vietnam sojourn

IBy Rizal Raoul S. Reyes @brownindio

UNREGISTERED payment system

operator Higala Technology Inc.

(HTI) announced having secured an agreement with Camalig Bank Inc. to enhance financial inclusion in the southern Luzon province of Bicol.

A statement quoted Camalig Bank President and CEO Jose Misael B. Moraleda as saying that the collaboration will enable the bank to participate in the pilot testing of HTI’s instant payment system (IPS) platform for the lender’s customers composed mainly of owners of micro-sized, small and medium-sized enterprises (MSME).

By connecting to the IPS platform, Camalig Bank’s customers can enjoy

THE Bureau of Internal Revenue (BIR) has waived the fees charged for applicants for scholarships and job or livelihood programs.

Revenue Memorandum Circular (RMC) 127-2024 issued on November 18 removed the certification fee of P100 ($1.70) in the application for a Certificate of Exemption for scholarship and job or livelihood programs.

“This equivocally gives the applicants financial assistance in finding careers, which may help alleviate their poverty,” read the circular. Before, persons with little to no income wishing to avail of scholarships and job or livelihood programs must apply for a certificate of exemption. The latter is issued after the applicant submits a “Certification of Low Income” and/or “No Income” signed by the chairman of the barangay where they reside. The applicant must also submit a duly notarized affidavit of low and/or no income. In case of transacting through a representative, a “Special Power of Attorney” is needed. Applicants must also pay P30 for loose Documentary Stamp Tax (DST).

“more convenient, secure and affordable payment services,” Moraleda said. The latter includes person-to-person fund transfers, person-to-merchant payments through QR codes and other payment use cases that the network will introduce.

“By connecting to the Higala IPS, Camalig Bank can offer its customers a wider range of financial services, including real-time payments, at a lower cost,” HTI CEO Vicente B. Catudio Jr. was quoted in the statement as saying.

While MSME owners rely on rural banks like Camalig Bank to support their livelihood, the high costs and complexities associated with digital financial services have limited their access to realtime payments and other innovative financial services, according to HTI.

According to Moraleda, its partnership with HTI “aligns with the bank’s mission to redefine community banking to be more vibrant and inclusive.”

Catudio added that HTI’s vision is to drive payment interoperability, participation, and efficiency in nationallevel real-time payment networks. To achieve this, he added that the company is actively working with various rural banks, thrift banks, commercial banks, and electronic money issuers to connect them to its payment rail.

The company explained that its platform was built around the “Mojaloop” technology, an open-source IPS. HTI’s platform “is designed to lower the on-ramp barrier for small banks and other financial institutions to participate in interoperable payment rails

and reduce the cost of moving funds amongst financial institutions,” the company added.

“Leveraging an open payments platform, [the platform] facilitates connections between financial institutions and new market players to enable innovative payment solutions for consumers and businesses,” read HTI’s statement.

According to HTI, it supports the goal of the Bangko Sentral ng Pilipinas (BSP) to advance financial inclusion through digital payments. However, HTI is not in the BSP’s “List of BSP Registered Operator of Payment System” that was last updated on November 15, 2024. Camalig Bank, formerly the Rural Bank of Camalig (Albay) Inc., is in the list. (See https://www.bsp.gov.ph/ PaymentAndSettlement/COR.pdf )

T was the first time for my husband, daughter and me to visit Ho Chi Minh City, Vietnam, but we were impressed. Our 5-day itinerary was mostly centered on food—one of our favorite meals are the ones on Vietnamese restaurant menus—and a visit to popular tourist spots. We didn’t go to other places in Vietnam because we wanted to immerse in the culture of the city. Also, whenever we travel, we would like it, as much as possible, to be at a relaxed pace; just enjoying the time, place and food.

Vietnam has been an alternative country for businesses to invest in for those who are looking outside of other countries in the Asian region.

The country has succeeded in its electronics, footwear and textile industry. Vietnam has retained its Moody’s credit rating of Ba2 with a “stable” outlook since last year. A good investment-grade rating signifies low sovereign risk, helping the country to avail funds with lower interest rates and enabling it to use interest savings for social programs and projects.

Vietnam’s gross domestic product (GDP) is expected to reach 6.8 percent to 7 percent this year (The Investor Vafie magazine), which is significantly due to exports and tourist arrivals. The latter adds over 1-percentage point to its GDP growth this year (Vietnam Travel). On the other hand, Moody’s Analytics expects Philippine GDP to expand by 5.9 percent this year, 6 percent next year and 6.1 percent in 2026.

exorbitantly high while the food was not that good.

We stayed in a Japanese hotel knowing that it is clean and, just like hotels in Japan, is generous with amenities that other hotels cannot provide such as sunscreen, face beauty masks, hair brush, lotion in travel packs, herbal teas, and mouth wash stowed in travel packs. They also provided a pair of tops with matching pajamas made from what we consider high-quality materials. Of course, I love the Japanese toilet bowls with their usual sophisticated bidets. Vietnamese foods are one of our favorites in the Philippines; that is one reason why we chose to travel to Vietnam this year. And we had food galore at their Vietnamese restaurants. We enjoy such food adventures wherever we go since we believe that it is not only in the tourist spots that we get to know more about a country but through its foods. We found out that the authentic Pho is far better than what is served locally and they have a varied way of cooking foods.

RMC 127-2024 doesn’t waive the P30 charged for the DST as this is prescribed under Section 188 of the National Internal Revenue Code (Tax Code), The circular explained the DST fee could not be made free since there is no law exempting a “Certificate of Exemption” issued to persons with little to no income availing scholarship and job or livelihood programs.

The circular will take effect immediately while all previous revenue circulars inconsistent with the new provision are amended, modified or revoked.

“The BIR will do its share in alleviating the burden of our countrymen who are already in need of financial assistance, which is why they are applying for scholarships, jobs, or livelihood programs,” Internal Revenue Commissioner Romeo D. Lumagui Jr. was quoted in a separate statement last Tuesday.

Section 2 of the Tax Code states that the BIR has the power to assess and collect all national internal revenue taxes, fees and charges. Reine Juvierre Alberto

MAKATI Mayor and senatorial aspirant Mar-len Abigail

“Abby” S. Binay proposed last Tuesday the implementation of automatic loan moratorium in areas devastated by typhoons and other natural calamities.

Binay was quoted in a statement as saying the country has been battered by six successive tropical cyclones since October, four of them only days apart.

These have caused extensive agricultural damage in many areas and destroyed hundreds if not thousands of homes and small businesses.

“Granting automatic moratorium on government loan repayments in calamity-hit areas would provide much-needed respite to affected residents, especially farmers and fisherfolk whose sources of livelihood have been wiped out,” she added.Binay said government agencies and banks and financial institutions can make it a policy to automatically suspend loan repayments from borrowers located in areas officially declared in a state of calamity.

“It is a reasonable and humane response to the plight of many of our fellow Filipinos,” she said. “By giving them reprieve from their financial obligation,

they can focus on the day-to-day needs of their families and rebuilding their homes.”

Through a loan moratorium, the bank or lending institution makes a temporary agreement with the borrower to stop making loan payments for a certain period. In this way, the borrower can avoid penalties and stabilize finances before resuming regular repayments to the creditor.

Binay also said the moratorium can also include local government units (LGUs) severely affected by calamities. She said the focus should be helping local governments recover from the impact of these calamities on the local economy and public services.

The loan moratorium can be extended by institutions such as the Land Bank, the Development Bank of the Philippines, the Department of Agriculture, the Pag-Ibig Fund, the Government Service Insurance System and the Social Security System.

“During these trying times, our citizens need all the help they can get in order to survive and recover from the devastating impacts of calamities. The government, through its financial institutions, is in the best position to alleviate their conditions,” Binay said.

When we arrived in Vietnam, the plane was full of mostly tourists from different countries. Traffic was light as we rode on a double-decker bus.

If we had this bus in Manila, there’s a good likelihood of being stuck in traffic and inhale polluted air.

Like Manila, Ho Chi Minh City also sees motorcycles on its one-way streets. The streets were lined with trees that protect pedestrians from the scorching November heat.

What impressed me most, too, is that all the restaurants we went to have very clean restrooms with ample toilet papers and soaps. Even restaurants that are small and not unlike our “carinderia” are crowded with tourists because of their good ratings). I was surprised that these small restaurants have clean toilets, too. The best way to know if a restaurant is good in Vietnam is not to rely mainly on bloggers’ comments or reviews on the web. Check also the recommendations of friends or check on the list of Michelin-star rated food places so you will not be disappointed.

A blogger-recommended restaurant we went to had prices that were

We also took a Saigon River Cruise and I should say that it is almost similar to the cruise we had last month on Bangkok River. The only difference is the people on the boat seemed to enjoy more the music on our Bangkok River Cruise rather than the people in the Saigon River Cruise and I should say it is more in the choice of music they sang in the boat rather than the people having no musical inclinations.

Cruising the river or any cruises provide such a beautiful night view with the buildings, skyscrapers and certain temples lining up along the river bank. There were no shanties and informal settlers along the river bank like in Bangkok and I hope we can replicate such here in the Philippines.

If you ask me if I want to go back, maybe; but not in the near future. In the meantime, I want to see more new places in this beautiful world we are in.

Finex Free enterprise

Wilma inventor-Miranda

Building digital resilience

IN an ever-changing digital landscape where technology is embedded into nearly every aspect of our lives, building digital resilience has become a crucial skill. Whether you are a business professional, a student, a parent, or a tech enthusiast, digital resilience helps you to navigate online spaces safely, adapt to changing technologies, and protect yourself and your data from different digital threats. But what exactly is digital resilience and how do you develop it?

Digital resilience is the ability to adapt to, recover from, and thrive in a digitally connected world. It involves a blend of technical know-how, emotional intelligence, and proactive practices to safeguard your data, devices and well-being. Digital resilience is not just about fending off cyber threats—it is also about adapting to the rapid shifts in technology, managing screen time healthily, and sifting through the flood of online information. A digitally resilient person is one who can respond effectively to disruptions, maintain cybersecurity hygiene, and remain engaged with technology in a way that enhances productivity and quality of life.

The need for digital resilience is driven by ongoing cyber threats like phishing and data breaches, the rapid evolution of technology, information overload, and the growing importance of protecting personal data. As technology advances, digital resilience helps individuals and organizations adapt, manage new information, and safeguard privacy. Building digital resilience starts with practicing basic cybersecurity like using strong, unique passwords for each account and avoiding reusing them in other sites. You can use a password manager but you should also enable two-factor authentication to add an extra layer of protection. Staying vigilant against phishing by verifying the authenticity of unexpected text messages, emails, or links is also essential for safeguarding your accounts.

Practicing information filtering and validation is essential for digital resilience, especially in an age where fake news, misinformation, and clickbait are prevalent. Developing skills to discern trustworthy information from the digital noise helps ensure

informed decision-making. Good strategies include fact-checking by cross-referencing reputable sources, particularly for information found on social media. It is also helpful to limit exposure to unreliable sites, sticking with sources known for high-quality content. Also, understanding personal and organizational biases can provide critical context, as these biases often influence how information is presented and interpreted.

Managing your digital well-being is a vital component of digital resilience. Setting a screen time limit helps to prevent excessive use and allows you to plan other activities for work and recreation. Practicing mindful social media use can protect mental health by promoting awareness of its impact and setting appropriate boundaries. Additionally, balancing online and offline interactions ensures that digital engagement does not overshadow valuable face-to-face connections and physical activities.

Digital resilience thrives within communities, families, and workplaces where support networks help with knowledge sharing and managing disruptions. For organizations, it is crucial to prevent financial and reputational damage from digital

disruptions. Leaders can strengthen resilience by implementing cybersecurity protocols, offering regular training, and encouraging a culture of continuous learning. Clear data policies also ensure secure and ethical data management, reinforcing employees’ understanding of data protection. Creating a digital crisis plan equips you with clear steps to follow during a digital emergency, and ensures a swift and effective response. This plan should outline specific actions if accounts are compromised, such as changing passwords, contacting service providers, or freezing accounts. Regularly backing up critical data on external drives or cloud services is also crucial for protecting important data. Additionally, understanding your legal rights and knowing the resources available for reporting incidents can provide guidance and support in the event of a cyberattack.

As artificial intelligence, big data, and the Internet of Things continue to evolve, the scope of digital resilience will expand. It will likely involve a deeper understanding of how to interact with intelligent systems, manage digital identities across networks, and adapt to new ethical considerations. Preparing

Christmas comes to Shangri-La Plaza with a tree that defies gravity

By Pauline Joy M. Gutierrez

LUXURY retail destination Shangri-La Plaza kicked off the holiday season with a show-stopping reveal: a dazzling, levitating Christmas tree that now stands as the centerpiece of its festive décor.

The grand tree lighting, held during the “Unwrap the Gift of Joy” event, brought together guests and dignitaries, including Mandaluyong City Mayor Benjamin “Ben” Abalos Sr. who shared his admiration for the unique display.

“I was looking at it earlier and I said, ‘Wala ata itong paa. Pambihira.’ It’s my first time seeing it,” he humorously remarked, drawing a parallel to how Filipinos, like the tree, find ways to rise above challenges and remain steadfast even when it seems impossible.

“We can still uphold joy despite all the adversities and crises we face,” he added.

Suspended in mid-air and bathed in a warm pink glow, the tree is adorned with twinkling lights and whimsical ornaments, surrounded by giant gift boxes that appear to float alongside it. In a statement, Shangri-La Plaza stated that the installation

reimagines holiday traditions with a contemporary, magical twist, “[capturing] the warmth of family, friendship, and community.”

Mayor Abalos also took the opportunity to highlight what makes a Filipino Christmas truly special. “We have the longest Christmas celebration,” he noted with a smile. “Hindi ko alam kung may kinalaman dito ang mga mall, para mahaba ang shopping days.”

Reflecting on Mandaluyong’s progress, he added, “[The city] may be small, but it is now the 7th richest city in the Philippines. This success is because of unity among our people and togetherness among our businessmen. I thank the business community for keeping Mandaluyong thriving.”

A NIGHT OF MUSIC AND FESTIVITIES

THE evening was a feast for the senses, featuring dynamic performances by GFORCE and The Giving Concert, headlined by theater stars Gab Pangilinan and Myke Salomon, alongside the Manila Philharmonic Orchestra’s eight-piece ensemble. Under the musical direction of renowned composer Rony Fortich, the concert blended pop hits and Christmas classics.

Mayor Abalos and Councilor Benjamin Abalos III joined Shang Properties executives, including executive vice president Joy Polloso, to lead the symbolic tree lighting at the Grand Atrium, signaling the start of the holiday season.

SURPRISES AND GIFTS AWAIT

today with the foundational practices of digital resilience helps individuals and organizations thrive in this dynamic landscape. In a world where technology continues to shape our lives, digital resilience is not just a survival skill—it is a thriving skill. By fostering digital resilience, we can confidently engage with technology, manage its impacts on our lives, and emerge stronger in a constantly evolving digital world. n

THE joy doesn’t stop with the tree lighting. ShangriLa Plaza has lined up a series of events to keep the holiday spirit alive, including performances by the Ateneo Children’s Choir, St. Theresa’s College, and Mandaluyong Children’s Choir from December 20 to 22. Kids can join the Jingle-All-The-Way caroling activity on December 15 at the East Atrium. For those feeling lucky, Shangri-La Plaza’s Wishes and Wheels Christmas Raffle offers a chance to win one of three compact Suzuki Jimny jeeps displayed in various locations inside the mall. Shoppers earn raffle entries for every P2,500 spent, with dining receipts doubling their chances.

Capping off the festivities is the Encore of Lights fireworks showcase on December 30 at Streetscape—a celebration to close the year and welcome the new one.

MANDALUYONG Mayor Benjamin “Ben” S. Abalos Sr. underlined how no one in the world celebrates Christmas quite like Filipinos in his welcome remarks.

SHANGRI-LA Plaza lights up its hanging Christmas tree, surrounded by giant gift boxes at the Grand Atrium. GIFTS BELOW P1,000 Hand balm trio in almond, avocado and shea.

GIFTS BELOW P500 Strawberry gift treats with Body Butter and Shower Gel.

PHOTO BY ANDREW NEEL ON UNSPLASH

Grab boosts service reliability, safety, accessibility amid holiday demand growth

GRAB Philippines is gearing up to surpass its holiday performance from last year, according to Country Head Ronald Roda. The leading superapp has been developing a comprehensive strategy to enhance reliability, accessibility, and safety as demand skyrockets in the final two months of the year.

Historical data shows that Grab Philippines experiences at least a 19 percent increase in daily transacting users for its ride-hailing services every last quarter of the year, with the number of ride bookings growing by up to 45 percent in the second and third weeks of December. For its deliveries business, demand rises by 20 percent on key holiday dates, with a recent survey by the brand revealing that 44% of Grab Philippines users rely on the app for their festive meal deliveries.

Grab Philippines Country Head Ronald Roda shares, “Our data and studies all lead to a singular insight: Filipinos just wish to be present this Christmas, fully engaged with families and friends as they celebrate the most beloved holiday. Grab aims to bring our kababayans much closer to their loved ones and help them create special moments this holiday season.”

The yearning to be together every holiday is underpinned in Grab’s Holiday Trends study, indicating that Filipinos attend an average of four gatherings in celebration of Christmas and New Year.

The brand emphasizes that being a reliable and accessible platform is no easy

task. “For some, the holiday season lasts two or three months. For Grab, it is a journey that spans over 10 months when you consider all the preparations done leading up to the season. We have been preparing since January of this year, working with our regulators towards a more balanced demand and supply, and launching a series of technologies to provide our consumers with a better holiday experience,” Roda adds.

While demand during peak times may inevitably outstrip current supply, the leading superapp remains optimistic that its service reliability this year will be much improved in comparison to the previous holidays.

Roda expresses the platform’s gratitude to the Land Transportation Franchising and Regulatory Board (LTFRB) for its continued openness and supportive efforts. With the release of new TNVS slots in August, Grab has been onboarding new driver-partners, a process that can take up to three to five months.

Besides the challenge of demand and supply imbalance, Grab is also looking after the potential impact of holiday-induced traffic congestion on the earnings and productivity of driver-partners. Historical

data of the platform show that drivers, on average, will need to spend 14 percent more time for the same trip distance for most of the December holiday rush.

“While we continue to prioritize the accessibility of our services, we are also closely monitoring the fairness of our fares to ensure that our driver-partners can earn sustainably and viably this holiday season. By ensuring this, we hope to encourage more drivers to continue serving our passengers in spite of the traffic situation, helping maintain service reliability on our platform,” Roda notes.

“The holidays are also crucial for our driverpartners, and we are committed to helping them capitalize on the increased demand to attain sufficient, if not above-par earnings, for themselves and their families.”

Grab assures users that fares will stay fair, in line with the regulatory matrix implemented by the LTFRB. To aid in maintaining the accessibility of its ridehailing services, Grab has also expanded the coverage of its GrabUnlimited subscription service, which now includes an everyday eight percent discount on GrabCar rides. Furthermore, as part of its affordability commitment, Grab has launched GrabCar Saver, an affordable mobility solution that is cheaper than a standard GrabCar ride.

The leading superapp has also recently launched its Group Rides feature, which not only maximizes the utilization of its fleet through the carpooling model, but also efficiently lowers down fares by allowing groups of four to share their ride’s base fare.

Leading to the holidays, Grab has also

Israeli Ambassador Provides Relief to Typhoon-Stricken Bicolanos

AMBASSADOR of Israel to the Philippines Ilan Fluss visited the Bicol region on November 13 and 14, 2024 to provide relief assistance to typhoon-affected Bicolanos and to officially turn over a livelihood project funded by MASHAV.

In Naga City, Ambassador Fluss met with Mayor Nelson Legacion to extend his solidarity and sympathies to the residents affected by Typhoon Kristine. Legacion briefed the Ambassador on the effects of the typhoon and their recovery efforts. They also discussed possible partnerships in many areas such as disaster risk management using modern technologies from Israel. Through MASHAV, the Embassy of Israel donated school supplies and equipment, including printers, inks, bond paper, notebooks, pens, storage boxes, first aid kits, and hygiene supplies. These donations will benefit 500 students and faculty members at Julian Meliton Elementary School.

“We have been closely monitoring the situation and saw the need to support the Bicolanos. We learned that the school and the students lost their school supplies and equipment due to flooding. We hope these new materials will assist the students with their studies and will inspire them as future young leaders,” Ambassador Fluss explained.

The Israeli Ambassador also visited the Queen of Peace Children’s Home and Formation Center to donate food and essential supplies, including diapers, laundry detergent, baby formula, and adult diapers for the elderly.

I T is beginning to look a lot like The World of Christmas everywhere at Newport World Resorts. With its halls decked in majestic hues of blues and golden reindeer statues up in the air, the country’s pioneer integrated resort brings a holiday wonderland to life as the entire property transformed into a Christmas Reindeer Village. At the center stands a giant Christmas tree, adorned in royal blue and gold baubles, twinkling lights, and splendor that invites all to revel in the magic and wonder of the holidays. The tree lighting ceremony held on November 7, 2024 officially marked the start of The World of Christmas celebrations at the premiere lifestyle and entertainment destination, bringing forth every festive joy imaginable, from concerts and parties to gourmet offerings and staycations.

Grand celebrations, concerts THE World of Christmas at Newport World Resorts peppers the happiest season with grand celebrations and epic entertainment starting with Southeast Asia’s largest wine event all the way to new year with The Grand Countdown to 2025 headlined by some of OPM’s brightest stars BINI, Bamboo, Jed Madela, and Angeline Quinto.

To triple the joy this season brings, Jose Mari Chan with special guests JONA and Morisette will be performing favorite holiday tunes for the one-night concert “Oh

Ambassador Ilan Fluss together with Mayor Mayor Lilian Matamorosa of Lupi, Camarines Sur distributed relief packs to 250 families affected by Typhoon Kristine in Bicol.

“Women, children, especially orphans, and people with disabilities are among the most vulnerable during disasters,” he noted. “We hope this donation offers some relief as they recover from these challenges.”

In addition to the relief efforts, Ambassador Fluss visited the site of the Self-Help Group (SHeG) Community Enterprise in Lupi, Camarines Sur, where MASHAV has funded a livelihood project to empower local women. Together with Mayor Lilian Matamorosa of Lupi, he visited the Missionary Oratorians of Mary Convent where the donated equipment to produce cranberry wine and juice is stored.

The project, led by former MASHAV Scholar Nelsie

Christmas Three” happening on December 7, 2024 at the Newport Performing Arts Theater.

Indulge in festive flavors from the world ‘TIS the season to discover holiday flavors that the world has to offer by dining across Newport World Resorts’ signature and specialty restaurants. Casa Buenas at the Newport Grand Wing will be setting the dining tables with a little holiday magic for its Christmas Eve Set filled with FilipinoSpanish favorite dishes that are staples for every holiday celebration including inihaw, lechon, and fruitcake. Newport World Resorts’ award-winning culinary team has curated a selection of the best Christmas dishes and treats for everyone to enjoy in the comfort of their home, or to share as gifts. The Holiday Takeaways menu features savory and sweet yuletide classics like succulent turkey roulade, charcuterie platter, and gourmet beef selection. Guests will also enjoy holiday magic with Newport World Resorts’ gingerbread house located beside the Garden Wing Cafe. In this wonderful spot, the young ones and those young-at-heart can take countless pictures and purchase signature treats and pastries.

Celebrate with a grateful heart at Marriott Manila LOVED ones share merry moments at Marriott Manila’s

Uy in partnership with Caritas Philippines, will benefit 80 women entrepreneurs from the community. Ambassador Fluss also donated sacks of rice for the members of SHeG.

“We hope Israel’s assistance will support their recovery and help generate income. This project aims to empower women economically while preserving local traditions and knowledge,” he said.

Through MASHAV, the Embassy also donated sacks of rice to residents of Lupi. Ambassador Fluss, alongside Mayor Matamorosa, helped with the repacking and distribution of relief packs to 250 affected families.

Accompanied by his wife, Gila, Ambassador Fluss emphasized during his visit to Bicol that Israel stands ready to support its Filipino friends, even amidst the ongoing war in Gaza.

“There are many Bicolano caregivers and hotel industry workers in Israel, and young farmers from Bicol join our agriculture internship program to learn modern farming techniques,” he shared. “Even in the middle of a conflict, the Bicolanos remained with us in Israel. Supporting their kababayans here is our way of expressing our gratitude,” he explained.

MASHAV, Israel’s Agency for International Development Cooperation, plays a key role in providing professional training opportunities to Filipino experts in various sectors and coordinating Israel’s official humanitarian assistance programs.

Marriott Cafe with its indulgent buffet offerings for Christmas, New Year, and all other holiday feasts in between. Those who show gratitude by spreading love may choose from the hotel’s splendid selection of cookies, wine, special jam, and more that come in a wonderful Christmas Gift Basket. The Spirit of ‘Okurimono’ at Hotel Okura Manila HOTEL Okura Manila takes inspiration from “okurimono” this holiday season,

GRAB Philippines Country Head Ronald Roda, together with Director for Mobility EJ Dela Vega and Director for Deliveries Greg Camacho, shares the strategy of the leading superapp to offer a better experience for

introduced several new features that improve access to rides and food deliveries for Filipino consumers.

This lineup of new technologies includes Advance Booking, which guarantees on-time rides to the airport that can be booked up to seven days in advance, a perfect solution for holiday travelers. In line with its commitment to affordability, Grab has also introduced a number of new features. The GrabFood Group Order feature facilitates collective meal orders for families and friends, offering escalating discounts that can go as high as 15 percent as the number of participants increases.

GrabFood Saver helps users save on delivery fees, while the Large Orders option allows for ordering larger quantities of food and essentials for group celebrations, complete with special deals. These features are designed to effectively manage the expected growth in delivery demand during the Christmas season. “Many of our kababayans are looking forward to spending the Holidays with their loved ones, and we are aware of their expectations of us during this season. With that, we have devoted our time, effort, and expertise to elevate their Grab experienceallowing every Filipino to be more present this yuletide season,” Roda said.

Hotel Sogo, NCIP Forge Partnership to Support Indigenous Communities

AMEMORANDUM of Understanding (MOU) was signed between Hotel Sogo and National Commission on Indigenous Peoples (NCIP) towards a collaborative partnership of the lives of indigenous communities. The agreement includes joint initiatives such as education, calamity assistance, health, and support for the development and welfare of Indigenous Peoples (IPs) across the country. The momentous event took place at Eurotel North Edsa with key officers in attendance from both organizations. Hotel Sogo was represented by Marketing Head Sue Geminiano and Advertising and Promotions Manager Mariel Quinto. Representing NCIP were Chairperson Jennifer Pia Sibug-Las and Executive Director Mervyn H. Espadero. Commissioner Gaspar A. Cayat of CAR & Region

I delivered a virtual message from La Trinidad, supporting and commending the partnership.

Geminiano delivered a message emphasizing the hotel’s commitment to make a meaningful impact in the community saying, “This event signifies the commitment of our partnership with NCIP as a demonstration of our love for this family.”

In her speech, Sibug-Las emphasized the importance of the collaboration, “The signing of this MOU between NCIP and Hotel Sogo, through its non-profit CSR arm, SOGO CARES, is a major step in our commitment to uplift communities. Today’s signing is more than just a formality;

Espadero

Editor: Tet Andolong

Alsons Dev serving the mid market in Davao

By Rizal Raoul S. Reyes @brownindio

Mindanao-based real estate developer alsons development and investment Corp. (alsons dev) introduced a project for the middle market through its mid-cost housing brand, nurtura Land and Home.

Furthermore, Alsons Dev President and CEO Miguel Dominguez said the company responded to the needs of Davaoenos by creating homes catering to evolving living standards and value for money.

“Drawing from decades of experience in developing thriving communities in Davao City, Alsons Dev takes pride in creating spaces where families with diverse aspirations and lifestyles can thrive. Our Nurtura brand embodies this promise with family-centric designs that ensure safety, comfort, and great value, providing the perfect environment for families to grow and flourish,” said Dominguez in a press statement.

According to Dominguez, Narra Park Residences is a project that manifests Alsons Dev’s vision of creating harmonious living spaces at an accessible price point.

Meanwhile, its counterpart, Narra Park Residences Avia, which is located within SOCCSKSARGEN’s very first mixed-use development, Avia Estate in Alabel, Sarangani, also carries the signature qualities of Alsons Dev’s residential communities under its Nurtura brand.

PHINMA Properties has more than 30 years of experience in developing quality homes and sustainable communities in the Philippines. It embodies excellence and heritage by incorporating Filipino architecture and ergonomics from the initial concept to the final build of every home and property. It is also dedicated to enhancing the living experience of residences by prioritizing community-centered real estate and sustainable practices.

Guided by the PHINMA Group’s mission of making lives better, PHINMA Properties aims to provide dignified housing options to multi-income segments that will give residents more than just a place to call home but a sense of achievement and belonging as well.

It designed its inaugural horizontal development for middle-income families in Batangas, PHINMA Maayo San Jose, which was unveiled in 2022. Its location brings families closer to the region’s rich tapestry of churches, beaches, historical sites, and farms, fostering a culturally rich and traditionally vibrant community. This was followed by the launch of PHINMA Maayo Tugbok in Davao City the year after, which marked the company’s second project in Mindanao.

In 2021, PHINMA Properties introduced the first condominium dormitory concept in Cebu City with UniPlace located within the Southwestern University Village. Its proximity to Cebu’s top schools, malls, office hubs, and other establishments gives residents, who are mostly students and young professionals, the opportunity to invest, earn, learn, and live life in their own unique way.

Metrotowne in Las Piñas City was also established in the same year. Designed for professionals and starting families, the medium rise development combines the laidback suburban lifestyle with urban conveniences. It is close to places of interest that features thoughtfully designed amenities and facilities, office, and commercial spaces

To mark its return to the high-end segment, PHINMA Properties launched Likha

Recently recognized as the Best Housing Development in Mindanao at the 2024 PropertyGuru Philippines Property Awards, Narra Park Residences Avia continues Alsons Dev’s commitment to providing vibrant living spaces for more families in the SOX Region. The variety of housing units for both Nurtura projects—from bungalows to two-story homes—cater to diverse preferences and family needs. These homes feature compact yet space-efficient layouts to maximize functionality and ensure every square foot is usable. Also, the generous lot sizes allow for a garage and garden, ideal for growing families.

“It all begins with strategic space planning,” said Tricia A. Dizon, a Makati-based interior decorator with whom Alsons Dev frequently collaborates. “Alsons Dev’s in-house planners put a lot of thought into the future homeowners' needs and preferences. We work together to conceptualize and determine the purpose of each space and how prospective buyers intend to use it in everyday living. This becomes our guiding star in creating functional

and efficient homes tailored for future homeowners.”

Dominguez stressed that the project is Alsons Dev's commitment to efficient planning also extends to construction quality. He said every project undergoes rigorous inspections, ensuring each home meets the highest safety standards.

“Alsons Dev’s commitment to excellence is evident from concept to execution,” said Greric Santos, proprietor of Greco Construction who worked on the Narra Park Residence projects in Davao and Sarangani. “I can vouch for their high standards for quality because

Avia, a public safety and security complex that integrates police, fire, and emergency response stations is being built close to the residential area, ensuring a secure and peaceful living environment.

Arch. Patrick Tan, Principal Architect of PCTAN Architects and Associates and longtime collaborator of Alsons Dev attests, “We are proud to partner with Alsons Dev in creating

I see how their Construction Management team enforces them rigorously on contractors like myself.”

Beyond developing houses, Narra Park Residences in Davao and Avia Estate also offer a community-centric environment. Both developments feature expansive green spaces and large parks that encourage social interaction.

To promote healthy living, familyfriendly amenities like pools and multipurpose courts not only promote an active lifestyle within the neighborhood but also foster a sense of belonging and connection.

The resident’s safety and peace of mind are given top priority, as seen in the 24/7 guarded entrance, perimeter walls, and dual gates that double as access points to essential establishments. In the case of Narra Park Residences

Trump: I’ll fix golf mess in 15 minutes

Thompson all clear to play vs New Zealand, HK in qualifiers

By Josef Ramos

TCup qualifiers this week at the Mall of Asia Arena in Pasay City.  Team manager Richard del Rosario confirmed to BusinessMirror on Tuesday that the 7-foot-3 Sotto and the 6-foot-1 hustle king Thompson got a clean bill of health for the game against New Zealand on Thursday and Hong Kong on Sunday.

“Kai Sotto is cleared and ready to play after undergoing concussion protocols,” said Del Rosario, adding Thompson’s bad back which forced him out of the Olympic Qualifying Tournament early this year in Latvia no longer bothers the Ginebra spitfire.

“Sotto’s presence is valuable against New Zealand,” Del Rosario said. “And Scottie gives us the kind of moves that can help others do their usual roles like Chris Newsome, who is our primary stopper off the bench, and Dwight Ramos, who can focus on playing shooting guard and small forward.”

“Everybody can play in their

comfort zones,” he added. Sotto, who averaged 15.5 points and 12.5 rebounds plus 3.0 assists in the first window, will be teaming up with June Mar Fajardo and Japeth Aguilar in shaded lane together with naturalized player Justin Brownlee to keep Gilas stretch its unbeaten record to four games at the most after the second window. He suffered a minor ankle injury last November 6 in Koshigaya’s 80-67 victory against Velca in the Japan B.League and had to be sidelined to undergo concussion protocol after colliding with an opponent in their 80-72 win over Yokohama B-Corsairs last November 9. Thompson is now 100 percent healthy and ready to reinforce the team’s backcourt composed of Ramos, Newsome, CJ Perez and Calvin Oftana.

“He is our tremendous energy guy,” head coach Tim Cone said of the 2021 Philippine Basketball Association Season Most Valuable Player who averaged nine assists plus 3.5 points and 2.5 rebounds in the first two windows against Hong Kong and Chinese-Taipei.  Gilas defeated Hong Kong, 94-64, and Chinese Taipei, 106-53, in the first window last February. Gilas Pilipinas’s games both start at 7:30 p.m.

By Doug Ferguson The Associated Press

PRESIDENT-ELECT Donald

agreement on June 6, 2023 , for the Saudi sovereign wealth fund to become

Monahan.

The  Washington Post  reported Monahan accepted an invitation from Trump to play golf last Friday at Trump International Golf Club in West Palm Beach, Florida. The PGA Tour confirmed the outing in a statement.

“President-Elect Trump has always been a champion of the game of golf and Commissioner Monahan was honored to accept his invitation to play at Trump International,” the statement said. “The President-Elect and the Commissioner share a love for the game and the Commissioner enjoyed their time together.”

The next day, Trump attended a UFC heavyweight championship in New York with Elon Musk and Yasir al-Rumayyan, the governor of Public Investment Fund (PIF) of Saudi Arabia, the financial support of the rival LIV tour that has caused the massive rift in the game. Monahan and al-Rumayyan played golf together in the Dunhill Links  in Scotland last month on the European tour.

The tour has not disclosed the nature of those discussions, and Monahan has not shared details even with key players to keep negotiations private.

The PGA Tour and PIF  announced an

KAI SOTTO and Scottie Thompson get a clean

Gonzaga captures 2 titles in Dipolog juniors netfest

AYL GONZAGA redeemed herself in Zamboanga del Norte by winning two titles in the Dipolog City National Juniors Tennis Championships at the RGS and Mibang courts over the weekend.

The 14-year-old rising star from Olongapo City swept her age group—girls’ 14-and-under—for the second consecutive week at the expense Alexa Manahan of Manukan, Zamboanga del Norte, 6-0, 6-3.

She also booked a gritty , 6-4, 7-6(4) win over Marlyn Mesiona of Sindangan also in Zamboanga del Norte to claim the 16-and-under crown to become the lone double-title winner in the Group 2 tournament presented by Dunlop. Gonzaga aimed for a rare three-title feat but fell short in the premier 18-and-under final against Dapitan City’s Eloisa Laputan, 6-2, 6-2. Despite the setback, she still collected three medals and earned her second consecutive Most Valuable Player trophy— she teamed up with Francine Wong to clinch the girls’ 14-and-

Paul saves Tyson from shame

EVERY saying is almost always true.

“A sucker is born every minute” is but one glaring sample.  So that now, we ask:  How come more than 72,300 people packed the AT&T Stadium to watch the fight between Jake Paul and Mike Tyson on Sunday in Arlington, Texas?  Did they not know they were to see a circus and not a boxing match?

But then, you have it right there: The gullible in multitude being sucked in.  When suckers

Dr.

under doubles title over Vienna Cagas and Alyssa Salvalion.

Pete Bandala dominated the 16-and-under division after routing Kevin Gallenero, 6-1, 6-2, for his second straight title, but fell short in the 18-and-under final where he lost to doubles partner Edel Acbayan from Dapitan City in the semifinals, 6-3, 6-4.

ELECTION committee chair Atty. Teodoro Alejandro Kalaw IV gave the contending parties in the forthcoming Philippine Olympic Committee (POC) elections until noon this Saturday to submit their summation after hearing both sides’ arguments during a clarificatory procedure on Tuesday morning at the Century Park Hotel.

Kalaw and committee member, Philippine Sports Commission commissioner Olivia “Bong” Coo, heard at least four petitions for disqualification from the camps of incumbent POC president Abraham “Bambol” Tolentino and challenger Joaquin “Chito” Loyzaga for the elections set on November 29 at the East Ocean Seafood Restaurant.

“With the summation we could determine the merits of their protests,” said Kalaw, who, however, didn’t provide a timeline for the election committee to decide on the arguments.

With Tolentino during the proceedings were his “Working Team” candidates for POC board members Alvin Aguilar (wrestling), Alexander

“Ali” Sulit (judo) and Leah Jalandoni Gonzales (fencing), as well as POC secretary general Atty. Wharton Chan and head of legal Atty. Billy Sumagui.

Loyzaga was with Robert Bachmann (squash), Freddie Jalasco (wushu) and Rommel Miranda (kurash), as well as gymnastics deputy secretary general Rowena Bautista Eusuya.

Atty. Lean Carlo Macoto of the Aranas Cruz Araneta Parker and Faustino Law firm presented some of the Loyzaga ticket’s arguments but he, along with Loyzaga and Bachmann, left the proceedings before it was adjourned by Kalaw, leaving Jalasco and Eusuya to represent the group.

Vovinam’s Jose Ponciano Malonzo also attended the hearing to withdraw his protest against Bachmann’s qualification for the post of second vice president.

Tolentino didn’t comment on the proceeding but stressed that the “POC election procedures must be followed.”

The third member of the election committee, San Juan de Letran Calamba Rector and President Rev. Fr.

oxygen tank was still full.

But old lungs also deflate early like old tires.

It showed in Tyson’s knees weakening early, feet getting planted firmly on the floor as mobility has become as elusive as a slippery eel to old dogs like Tyson.

It showed in the number of punches landed in

Napoleon Encarnacion, O.P., excused himself from the hearing. The POC has 61 voting members who will elect by secret balloting the organization’s president, first and second vice presidents, treasurer, auditor and five members of the executive board. Also in Tolentino’s “Working Team” are basketball’s Alfredo “Al” Panlilio (first vide president), modern pentathlon’s Rep. Richard Gomez (second vice president), surfing’s Dr. Jose Raul Canlas (treasurer) and volleyball’s Donaldo “Don” Caringal (auditor and canoe-kayak’s Leonora “Len” Escolante (executive board).

ELECTION committee chair Atty. Teodoro Alejandro Kalaw IV with Philippine Sports Commission commissioner Olivia “Bong” Coo.

AYL GONZAGA (second from right) with (from left) tournament referee Karen Arellano, Pete Bandala and

Ian Bandala.

bill of health. FIBA PHOTO