THE WORLD | A10
DEFENSE SECRETARY AUSTIN VOWS
PHL slips to 13th in Hinrich-IMD sustainable trade index
By Andrea E. San Juan @andreasanjuan
WHILE the Philippines slipped a notch to the 13th spot in the global ranking of economies engaging in sustainable trade best practices, it was included among the countries that rank highly in the environmental pillar due to its “strong” environmental regulations and commitments to international environmental agreements.
The Philippines placed 13th among the 30 economies in the 2024 Hinrich-IMD Sustainable Trade Index (STI).
The country, however, was one of the five countries cited as ranking “highly” in the environmental pillar of the global index.
“The environmental pillar underscores the importance of sustainability within the trade framework. Countries that rank highly in this area, such as New Zealand, the United Kingdom, the Philippines, Mexico, and Australia, are distinguished by their strong environmental regulations and commitments to international environmental agreements.”
“These nations effectively manage carbon emissions, maintain low pollution levels, and pri -
oritize renewable energy sources,” the report also noted.
The Sustainable Trade Index covers three pillars: the economic pillar, societal pillar, and environmental pillar.
The economic pillar, the STI report noted, reveals that “topperforming” countries excel through strong technological infrastructure, innovation, and efficient trade policies, including low tariff and non-tariff barriers to enhance trade competitiveness and attract foreign investment.
The 2024 STI noted that countries like Hong Kong SAR, the United States, South Korea, China
and the United Kingdom lead in this pillar.
In the societal pillar, countries that prioritize labor rights, political stability and social mobility tend to perform best, the study noted.
On the economic pillar, the Philippines’s ranking fell to the 19th spot, with a score of 56. Under the societal pillar, the country slipped by 5 notches to place 19th, with a score of 37.4. The Philippines climbed a notch to the 3rd spot in the environmental pillar, with a score of 93.
‘CHEAPER RICE BOOSTS CONSUMPTION BETTER’
By Cai U. Ordinario @caiordinario
MORE than holiday spending or rate cuts, cheaper rice prices will help boost the growth of
consumption in the last quarter of the year, according to a local
SARA: PINOYS CAN PRODUCE ‘NEXT ELON MUSK’ BUT ONLY IF...
ILIPINOS can be “the next Elon Musk” only if the country addresses challenges on basic education such as power and connectivity issues, according to Vice President Sara Duterte.
“I believe Filipinos can be the next Elon Musk. We are a powerhouse of geniuses. Hindi lang sa ating mga professionals, pati yung mga nasa loob ng mga [Not only among our professionals, but also those in our] colleges and universities. We just need to do that dream. We don’t want to be
a middle income. We want to be a superpower,” Durte said during the 50th Philippine Business Conference and Expo (PBC&E) organized by the Philippine Chamber of Commerce and Industry (PCCI).
The Vice President said this can be attained if the country embraces the power of innovation to “foster inclusive growth and development while ensuring that its benefits reach all Filipinos across all segments of society.” Continued on A2
slips to 13th. . .
Continued from A1
Under the economic umbrella, the Philippines ranked low in the following: consumer price inflation, 22nd; technological infrastructure, 21st; trade costs and exports of goods and services, 18th; foreign trade and payments risk, 17th, among others pulling down its ranking in this pillar to the 19th spot.
Under the societal pillar, the country’s ranking also fell by 5 rungs to the 19th spot as it ranked low in political stability and absence of violence, 25th; goods produced by forced labor or child labor, 25th; educational attainment, 23rd, life expectancy at birth, 21st. In contrast, the country climbed a notch to secure the 3rd spot in the environmental pillar, owing to high rankings in these indicators: environmental standards in trade, 1st; ecological footprint, 5th; renewable energy, 6th; share of natural resources in trade, 7th; and transfer emissions, 8th.
According to Hinrich, the STI analyzes 30 economies including members and applicants of major trade alliances such as the AsiaPacific Economic Cooperation (APEC), the Comprehensive and Progressive Agreement for Trans-
Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).
For his part, Arturo Bris, Director at IMD World Competitiveness Center, said that the findings this year highlight “how protectionist policies are reshaping the global flow of goods and services.”
“The STI’s tracking of tariff and non-tariff barriers to trade has underscored the growing complexity and fragmentation of the global trade landscape. The question is, how can we encourage cooperation going forward?” added Bris.
Meanwhile, Hinrich Foundation’s CEO Kathryn Dioth emphasized that achieving “balanced outcomes” between the three pillars is essential for resilience.
“As they navigate the challenges of balancing open trade with prudent societal and environmental policies, the 30 economies tracked by the STI are each at different stages of their trade sustainability journey,” said Dioth.
The Hinrich CEO also noted that policymakers must “juggle” domestic perceptions of benefits and disadvantages of open trade while “pushing back,” at the same time, on the industrial policies and manufacturing overcapacity of their trading partners.
MB-approved public sector foreign loans up 36% in Q3
By Cai U. Ordinario @caiordinario
THE higher issuance of government debt papers has led to a 36- percent increase in public sector foreign borrowings approved by the Monetary Board in the third quarter, according to the Bangko Sentral ng Pilipinas (BSP).
The BSP said approved public sector foreign borrowings reached $3.81 billion in the July to September period this year, higher than the $2.81 billion posted in the same period last year.
However, the increase in approved loans was slower compared to the second quarter, which recorded a 43-percent growth.
“The bond issuance will fund the National Government’s general
Sara: Pinoys Can Produce. . .
Continued from A1
In doing so, she said the Philippines needs to chart a path that is
resilient despite the serious challenges to basic education.
Duterte also underscored that when she was the Secretary of Department of Education (DepEd), the agency crafted the Department of Education Digital Education 2028 which envisioned a completely paperless mode.
The Vice President recommended placing the learning materials of students in the cloud so that it will be easily accessed by students.
budget financing and financing/refinancing of assets in line with the Republic of the Philippines’ Sustainable Finance Framework ($2.5 billion),” BSP said in a statement.
Apart from the bond issuance amounting to $2.5 billion, the approved borrowings included a $778.59-million program loan and two project loans amounting to $535.97 million.
In the second quarter, BSP earlier said the Monetary Board approved a total of $3.9 billion of public sector foreign borrowings. This was higher than the $2.73 billion approved in the same period in 2023.
During the period, the loans approved by the BSP consist of one bond issuance amounting to $2 billion and three project loans amounting to $1.90 billion.
Under Section 20, Article VII of the 1987 Constitution of the Republic of the Philippines, prior approval of the Bangko Sentral ng Pilipinas, through its Monetary Board, is required for all foreign loans to be contracted or guaranteed by the Republic of the Philippines.
Similarly, Letter of Instructions No. 158 dated 21 January 1974 requires all foreign borrowing proposals by the National Government, government agencies and government financial institutions to be submitted for approval-in-principle by the Monetary Board before commencement of actual negotiations.
The BSP promotes the judicious use of the resources and ensures that external debt requirements are at manageable levels, to support external debt sustainability.
“It is an uphill battle to present innovation to people,” the vice president said.
“Sabi nila, paano yung mga nasa paaralan na walang kuryente? Sabi ko diba ang dami naman nag-ooffer sa atin ng mga solar panels, sabi ko bakit di natin gamitin yun to power the cloud, to power the Starlink?” Duterte said.
[They asked, what happens to schools that lack power? I replied, ‘aren’t we getting many offers from solar panel providers; so why don’t we use that to power the cloud, to power Starlink?’].
However, she pointed out that this still carries challenges as not all students have mobile phones. Worse, she said there is also the issue of power. With this, she recommended setting up solar panels in far-flung areas.
‘Cheaper Rice Boosts. . .
Continued from A1
“We need to see more declines in the price of rice for us to see more than 5-percent growth in household consumption again. Kasi nga, nagbago na yung consumption habits ng Filipinos tapos ang mahal-mahal pa ng rice, doon na lang halos napupunta ang budget, especially for the lower income classes,” Neri explained.
“Even if they bring down to zero the interest rates, I don't see how the middle- and the low-income classes can afford to spend more on other things if the price of rice remains expensive. Kumbaga, it’s a precondition for us to see faster growth in household consumption,” he added.
In his discussion, Neri said when giffen goods are expensive, it leaves little to no room for spending for other goods. He illustrated this with a hypothetical P1,000 household budget.
Using this budget and considering rice prices of P40 per kilo and meat prices of P300 per kilo, households can buy 2 kilos of meat and 10 kilos of rice.
If rice prices increase to P50, it's possible that households will decide to buy less of meat products and more of the rice to somehow make up for the decrease in meat consumption.
Should this happen, Neri's illustration showed that households
may opt to purchase only 1.5 kilos of meat amounting to P450 and 11 kilos of rice worth P550. This will still be covered by a household budget of P1,000.
“When the price of rice goes up, we don't really switch to another type of staple or to more meat. Because we won’t feel full. Especially when rice is very hot, you feel very full after you eat,” Neri said, partly in Filipino. The weakness in household consumption will not be enough to make it one of the key economic drivers of the economy in the coming quarters.
This is also the reason for BPI's expectations that growth in 2024 will only average 6.1 percent.
HFCE posted a 4.6-percent growth in the first and second quarters of the year. This is considered the slowest since the first quarter of 2021 when household consumption contracted 4.8 percent.
Nonetheless, BPI expects GDP to grow faster at 6.3 percent in 2025 as inflation may settle at 3.2 percent in 2024 and 2.8 percent in 2025. These figures will also make the country outperform the region.
In its World Economic Outlook, the International Monetary Fund (IMF) is also less bullish about the country’s GDP growth, which it expects will average 5.8 percent this year and 6.1 percent next year.
Inflation, the IMF said, will likely average 3.3 percent this year and 3 percent next year. It added that the unemployment rate will remain at 4.4 percent and average 5.2 percent next year.
“Inflation is expected to be more manageable in the coming year given the improving prospects of food supply. With El Niño now behind us and the potential
Moving forward, Duterte said there is a need to invest in workforce development to help Filipinos adapt to the technologically evolving workplace.
“In a technologically evolving workplace, by investing in workforce development, we can harness the power of technology to create a more effective and productive future while ensuring that employees are equipped to thrive in this new landscape,” added Duterte. Andrea E. San Juan
increase in production, along with tariff reductions, rice may become more affordable,” BPI said.
“Global commodity prices may also remain stable amid the economic slowdown in China. However, upside risks to inflation remain, particularly the threat of La Niña and African Swine Fever among others,” it added. Meanwhile, a gradual reduction in the policy rate also aligns with the BSP’s long-term goal of cutting the reserve requirement ratio (RRR) to zero. This reform is crucial as it allows the banks to allocate their resources more efficiently, which could lead to more lending.
Lower RRR also helps the local banks compete better with foreign financial institutions, as the latter are not subject to such archaic banking rules. Cutting the policy rate gradually gives the BSP the flexibility it needs to reach its RRR target in a shorter timeframe.
BPI said the gradual reduction also gives the BSP the time to rebuild its GIR, which today is not even 85 percent of the country’s total external debt.
Meanwhile, the peso may strengthen in the coming year, as the country’s current account deficit could remain manageable, but could remain sensitive to the actions of the US Federal Reserve next year.
Based on historical experience, it seems the Peso has the tendency to strengthen when the Fed eases its monetary policy, as excess Dollar liquidity brought by the rate cuts usually flows to emerging markets like the Philippines. However, while a Fed cut might lead to Peso appreciation, its gains are likely to be smaller compared to other emerging market currencies given the current account deficit of the country.
Duterte skips QuadCom hearing
FBy Jovee Marie N. dela Cruz @joveemarie
ORMER President Rodrigo Duterte on Tuesday skipped the ninth hearing of the House Quad Committee that is looking into extra-judicial killings (EJKs) linked to his bloody anti-drug war, among other issues.
Lead committee chairman Rep. Robert Ace Barbers of Surigao del Norte wrote the former President on October 18 to invite him to attend the inquiry “to provide valuable insights and shed light on the issues under discussion, particularly on extrajudicial killings.”
Barbers, who chairs the House Committee on Dangerous Drugs, furnished Duterte with a copy of the agenda.
However, on Monday, Duterte’s lawyer, Martin Delgra, wrote Barbers that his client, the former President, could not attend Tuesday’s hearing because he was not feeling well.
“Unfortunately, despite his keen intention to attend, my client respectfully manifests that he cannot attend the public hearing set on 22 October 2024. Aside from the short
notice given him, my client just arrived in Davao from Metro Manila last 17 October 2024. Considering his advanced age and the recent engagements he had to attend, he is currently not feeling well and is in need of much rest. Hence, my client respectfully requests to defer his appearance before the Honorable Committee scheduled tomorrow [Tuesday],” Delgra said in his letter. He assured the joint panel “of my client’s willingness to appear before the House of Representatives on some other available date, preferably after 01 November 2024.” Delgra served as chairman of the Land Transportation Franchising and Regulatory Board during the Duterte administration.
Barbers and his three QuadComm cochairmen said they expected the former President to attend the inquiry, take his oath to tell the whole truth and nothing but the truth, and answer questions, unlike his daughter, Vice President Sara Duterte, who skipped recent committee and plenary deliberations on the 2025 budget of the Office of the Vice President. They said they would like to hear him comment on testimonies linking him to the August 2016 murders inside the Davao
prison of three high-profile Chinese drug lords and the explosive revelations of senior police officers close to him, including retired colonel and Philippine Charity Sweepstakes Office general manager Royina Garma, who confirmed the existence of an EJK reward system that paid up to P1 million for every high-profile drug suspect assassinated.
It was retiring police Lt. Col. Jovie Espenido, the Duterte administration’s poster boy on the war on drugs, who disclosed the reward system.
The QuadCom chairmen said they would also like the former President to talk about an alleged meeting he had, also in 2016, with senior police officers in which the EJK “Davao template” or model was discussed.
A few weeks after the meeting, the drug suspect killing spree by rouge policemen and riding-in-tandem hitmen started in Metro Manila and other parts of the country.
For human rights committee chairman Manila Rep. Bienvenido Abante Jr., he would like to hear in particular Duterte’s explanation on the need to kill suspects in his administration’s anti-drug campaign.
However, human-rights lawyer Chel Diokno told Abante’s committee in June
Go reaffirms support for indigenous people’s rights
FOLLOWING the Couples for Christ (CFC)
Answering the Cry of the Poor (Ancop) Global Walk, Sen. Christopher Go also attended the Pistang Katutubong Dumagat Indigenous Peoples Meet on Sunday, October 20. During the gathering, Go took the opportunity to listen, engage, and share his initiatives with representatives from various sectors, including Katutubong Dumagat chieftains, the Guardians, the Eagles Club, Mike Delta Force, Liga ng mga Barangay Kagawad, the Tricycle Operators and Drivers’ Association Federation, and the Persons with Disabilities (PWDs) Association.
The event at San Rafael Municipal Hall, held in celebration of National Indigenous
Peoples Month this October, underscored the importance of preserving cultural heritage and protecting the rights of indigenous communities. It was also an opportunity to address their concerns and bring public services closer to their communities.
The senator acknowledged Mayor Mark Cholo Violago and Board Members Raul Mariano and Liberato Sembrano, among others, for making the gathering possible.
As a member of the Senate Committee on Cultural Communities, Go reaffirmed his commitment to championing the rights and welfare of indigenous peoples, highlighting the pivotal role of legislation in ensuring their protection and empowerment.
He cited Executive Order 139, which was issued in 2021 under the administration of former President Rodrigo Duterte, granting death and burial benefits to Barangay Indigenous Peoples Mandatory Representatives (IPMRs).
The issuance of this executive order reflects the government’s dedication to recognizing the invaluable contributions of indigenous leaders and representatives in grassroots governance.
Go also emphasized that his ongoing efforts to advocate for the indigenous peoples align with his vision of inclusive governance, where all communities—regardless of location or background—are given access to vital services, support, and representation.
He assured the attendees that he would
this year that in the first 17 months of the Duterte administration alone, 20,322 drug suspects had already been killed.
“Get well”
FORMER Sen. Leila de Lima said on Tuesday she hopes Duterte will get well soon so he can face the House Quad Committee.
De Lima, whom the Duterte administration jailed for almost seven years based on drug charges that the courts eventually dismissed, is a resource person on Tuesday’s QuadCom ninth hearing on extra-judicial killings related to Duterte’s bloody war on drugs.
“Well, hope he gets well soon so he will have the health to face the music. So to former President Duterte, I hope you get better; take care of yourself so you’ll have the strength to face everything,” she told reporters.
Same pattern?
HOUSE Deputy Minority Leader Rep. France Castro expressed her disappointment over the absence of Duterte in Tuesday’s Quad Committee hearin.
During her manifestation, Castro expressed frustration, pointing out that Duterte had made numerous public statements when not under oath but failed to show up for formal hearings where his actions and policies during his presidency could be scrutinized.
continue to push for measures that promote their welfare, particularly in ensuring that indigenous peoples are not left behind in terms of access to health, education, and livelihood opportunities.
The Pistang Katutubong Dumagat Indigenous Peoples Meet served as a vibrant platform for cultural exchange, unity, and collaboration among various sectors. To show his appreciation, Go gave grocery packs, and shirts to all attendees. There were also select recipients of basketballs, volleyballs, bicycles, shoes, mobile phones, and watches to select recipients.
Go’s participation further highlighted the government’s commitment to uplifting the lives of indigenous communities, as well as his personal mission to address their unique challenges and promote their role in the nation’s development.
Court allows Quiboloy, companions to attend Senate committee hearing
TBy Joel R. San Juan @jrsanjuan1573
HE Regional Trial Court in Pasig City has granted the request of Sen. Anna Theresia “Risa” Hontiveros to allow detained Kingdom of Jesus Christ (KOJC) founder Apollo Quiboloy to attend the Senate committee on women’s hearing on October 23.
In a four-page order, acting Judge Rainelda Estacio-Montesa of Branch 159 of the RTC in Pasig also ordered Quiboloy’s coaccused in the qualified human trafficking, child abuse and sexual abuse cases to appear before Senate Committee on Women, Children, Family Relations and Gender Equality chaired by Hontiveros.
Quiboloy and his co-accused had earlier opposed Hontiveros request, invoking his constitutional right against self-incrimination and presumption of innocence.
HOUSE Senior Deputy Majority Leader Ferdinand Alexander “Sandro” A. Marcos on Tuesday said Vice President Sara Duterte has “crossed the line” in her recent “carelessly uttered” statements about his father and his late grandfather.
The young Marcos, who represents Ilocos Norte, criticized the Vice President in a statement stating, “Going ballistic was perhaps the self-therapy she prescribed for herself.
But she crossed the line, leaving the civic and civil space in which disagreements can be rationally argued.”
“Let this be an opportune time to remind ourselves that we mustn’t take our mental health for granted and that above all else I sincerely hope she is okay,” he said.
Despite the Vice President’s sharp words, Marcos extended his well wishes for her success, saying, “Ultimately, her success, like the President’s, will be the success of our nation as a whole. May she find the peace
They also argued that the matters subject of the committee hearing are already justiciable issues subject of court proceedings. They added that compelling them to appear before the Senate for separate questioning while the case is ongoing is a “legislative overreach.”
The trial court, however, adopted the Supreme Court’s ruling in Standard Chartered Bank v Senate Committee on Banks, Financial Institutions and Currencies denying the accused’s opposition.
In the said case, the Court held that “the mere filing of a criminal or an administrative complaint before a court or a quasi-judicial body should not automatically bar the conduct of legislative investigation.”
On the right of the accused against selfincrimination, the trial court noted that the SC held in “Sabio case” that the said right
of mind and mental clarity that seems to be eluding her.”
Marcos said he has kept quiet about the Vice President’s statements “out of respect for the Vice President given the mandate she was given and the responsibility which her office holds.”
“However, as a son, I cannot stay silent while she threatens to exhume a former President and behead an incumbent one. Besides, her bizarre temper tantrum has been condemned by a nation horrified from such displays of insensitivity towards the dead and cruelty to the living,” he said.
“Forget that the objects of her derisions are dear to me, but I would also be remiss in my responsibility as an llocano representative if I didn’t voice out my disdain at the abhorrent comments she so carelessly uttered. can ascertain that my emotions
Sandro takes up cudgels for dad, grandpa
See “Sandro,”
A4
Wednesday, October 23, 2024
DAR’s ₧6.2-B Vista Project to benefit 70,000 farming families
TBy Jonathan L. Mayuga @jonlmayuga
HE Department of Agrarian Reform (DAR) is gearing up for the implementation of a US$112.82 million or roughly P6.2 billion project that will empower women and benefit around 70,000 farming families in six provinces in the Cordillera Autonomous Region and four provinces in the Soccsksargen Region.
Agrarian Reform Secretary Conrado Estrella III said the project, dubbed the Value-Chain Innovation for Sustainable Transformation in Agrarian Reform Com -
may be invoked “only when an incriminating question is being asked, since they have no way of knowing in advance the nature or effect of the questions to be asked of them.”
“Wherefore, viewed from the foregoing, the letter-request to allow the appearance of the accused before the public hearing of the Senate Committee on Women, Children, Family Relations and Gender Equality on October 23, 2024 at 10:00 a.m. is hereby granted,” the order read.
Estacio-Montesa directed the chief of the National Police Custodial Center and the jail warden of the Pasig City jail to bring the accused before the committee and “observe maximum security measures to ensure the safety and security of all the accused.”
Quiboloy is currently detained at the National Police Custodial Center in Camp Crame, Quezon City, while his co-accused namely Jackielyn Roy, Cresente Canada alias Enteng, Paulene Canada, Ingrid Canada and Sylvia Cemañes are detained at the Pasig City Jail under the supervision of the Bureau of Jail Management and Penology (BJMP).
munities (Vista), seeks to address the main causes of rural poverty and create economic opportunities for its target beneficiaries or about 350,000 individuals, half of them women.
Besides reducing poverty and increasing food production, “this project holds a powerful vision for women’s empowerment in the Philippines,” Estrella said.
The DAR chief said rural poverty exists because of poor agricultural practices, weak producer organizations, lack of infrastructure, and poor access to markets and finance. He said these underlying problems that beset the agricultural sector
would be addressed by the six-year project spearheaded by DAR in partnership with the International Fund for Agricultural Development.
Vista will be implemented starting in January next year in 112 agrarian reform communities (ARCs) spread over the six provinces of Cordillera Administrative Region: Abra, Apayao, Benguet, Ifugao, Kalinga and Mountain Province, and the four provinces of Soccskargen: North Cotabato, South Cotabato, Sarangani, and Sultan Kudarat.
Estrella said the project places more premium on women’s participation as
indicated in the breakdown of the target beneficiaries: 50 percent women, 30 percent indigenous peoples, and 20 percent youth.
Estrella said the project’s major concern is to increase income and employment and improve climate resiliency of target groups in fragile upland areas through the strengthening of inclusive value chains and conservation and sustainable use of natural resources.”
He said the idea is to rally all target beneficiaries to work collectively throughout the whole cycle of production, from the acquisition of farm inputs up to marketing
Group urges Congress to pass Site Blocking bill
ACONSUMER advocacy group on Tuesday afternoon urged lawmakers to fasttrack the passage of the long-delayed Site Blocking bill, currently pending in the Senate before the election season heats up.
The bill when enacted amends Republic Act 8293 otherwise known as the Intellectual Property Code.
The measure aims to protect the Philippines’ creative industries from online piracy and bolster cybersecurity by allowing authorities to block websites that violate intellectual property rights.
Former legislator and lawyer Christopher Belmonte, also a co-convener of CitizenWatch Philippines, stressed the critical need for action.
“This bill is not only about protecting intellectual property; it’s about safeguarding the livelihoods of millions of Filipinos in the creative industry, from filmmakers and musicians to small content creators who suffer due to unchecked piracy,” said Belmonte.
He lamented, “We have been supporting the enactment of the Site Blocking bill together with IPOPHL, the creative industry stakeholders and telecommunications sectors for over five years now. We hope the Senate will finally push this forward into an empowering law that will address the rampant online piracy in the Philippines.”
Belmonte highlighted the need to pass new laws to respond to the rapid changes in the digital landscape, outpacing existing laws and leaving creators increasingly vulnerable to piracy.
Recently, the Senate Committee on Trade, Commerce, and Entrepreneurship chaired by Sen. Mark Villar, held its first public hearing on the proposed amendments to Republic Act 8293, also known as the Intellectual Property Code, which includes siteblocking provisions.
Villar pointed out that 60 percent of Filipinos are estimated to engage in watching pirated content, resulting in significant financial losses for both creators and the government. He reiterated the need to update the law to enable effective site-blocking measures, which would protect the intellectual property of Filipino creators and address the broader economic damage caused by piracy.
Data presented during the hearing by the Asia Video Industry Association showed that Filipino consumers visiting piracy websites are over 21 times more likely to encounter malware compared to legitimate sites.
Belmonte stressed that this is not just an economic issue but also a matter of cybersecurity.
“Every day we delay, more Filipinos are exposed
of their harvests.
“By buying farm inputs in volume, it enables our agrarian reform beneficiaries’ organizations (Arbos) to acquire them at a discounted rate, while selling their produce collectively allows them to meet the volume requirements of a particular business entity and demand for fair market value,”
Estrella said.
Estrella said the project initially focuses on two major crops, coffee and cacao, which have high market demand and suitability for upland farming.
“Ultimately, we intend to develop it into integrating farming system, involving other cash crops, such as root crops, vegetables, chayote, and nut trees, among others, to attain food security and livelihood resilience and improved nutrition,” he stressed “But first thing first. We need to improve our target beneficiaries’ social capital. We’ve got to organize them cohesively,” he added.
to cyber risks like malware, identity theft, and online scams. The dangers are immediate, and this bill is a vital step in protecting both our creative industry and the digital security of our people,” he added.
A 2024 YouGov survey highlighted that many Filipinos are aware of the harm piracy causes. Half of the respondents believed piracy leads to the exploitation of creative work without fair compensation, and many recognized its role in job losses within the creative sector. Despite this awareness, access to illegal content remains widespread due to a lack of legal deterrents.
Furthermore, Belmonte remarked that while voluntary agreements with internet service providers like Globe and PLDT to block piracy sites are helpful, legal enforcement through the Site Blocking Bill would provide legal basis to quickly and proactively block online piracy sites.
He said the rise of digital platforms has made it easier than ever to access pirated content, putting tremendous strain on creative industries. Belmonte noted that piracy sites not only deprive creators of their rightful earnings but also expose users to significant risks. Research shows that over 52 percent of ads on piracy sites are high-risk, often leading to malware or scams.
“The link between piracy and cybercrime is undeniable. By continuing to allow this, we are putting millions of Filipinos at risk every day,” Belmonte warned.
In its December 2020 comprehensive report, “The Role of Arbos in Agriculture Value Chain,” the Philippines Institute for Development Studies says: “Many farmer organizations in the country have a low level of organizational maturity and are mainly formed to access funding.”
Sandro.
are shared not only by my kakailian in the north but across the country,” he said.
He added that his father has dissuaded him from making any comment.
“For his part, the President had not said anything against her that can be remotely construed, even as a mild rebuke against her tirades. He even advised me to withhold my disappointment and refrain from making a statement. However, one must draw the line at some point, and it’s frankly long overdue,” the lawmaker said.
Vice President Duterte is currently facing allegations of mismanaging hundreds of millions of pesos in confidential and intelligence funds (CIFs) allocated to the Office of the Vice President (OVP) and the Department of Education (DepEd), which she headed until her resignation in July 2024. Lawmakers have raised concerns over the lack of transparency and accountability in the use of these funds.
Despite the serious nature of the allegations, Duterte has repeatedly refused to attend congressional hearings to clear her name and address the accusations of fund mismanagement. During a news conference, Duterte made shocking statements, admitting to imagining cutting off the President’s head and threatening to exhume the remains of the late President Ferdinand E. Marcos Sr. and throw them into the West Philippine Sea. Jovee Marie N. dela Cruz
Even non-Chinese aliens applied for PHL passports
By Malou Talosig-Bartolome
ASIDE from Chinese nationals, foreigners from Canada, Taiwan, Vietnam and South Korea have misrepresented themselves as Filipinos and applied for Philippine passports.
Foreign Affairs Undersecretary Jesus “Gary” Domingo said aside from former Bamban Mayor Alice Guo and sister Shiela Guo, 71 foreigners were found to have fraudulently acquired Philippine passports. Twelve of them were Chinese nationals.
Five other foreigners who misrepresented themselves as Filipinos and were able to acquire Philippine passports are:
A total of 56 cases of mixed
suspected Chinese nationals and unidentified foreign nationals have been found to have Philippine passports.
All 71 foreigners submitted “original” birth certificates from the Philippine Statistics Authority.
The DFA has been requiring PSA-authenticated birth certificate as proof of identity.
The DFA asked the PSA to cross check the birth certificates of the 71 cases. A dozen of these cases are positively registered in the PSA’s Civil Registry Database bearing the same entries.
“On the other hand, there 26 cases of PSA birth certificates are positive with the PSA’s Civil Registry Database but with different entries bearing a different birth date, place of birth, name of father and mother, different registration numbers and or BREN numbers.
“This shows that while the PSA document presented to us is in its
Security Paper form, the details of the document are spurious and fraudulent,” Domingo explained.
Then, the PSA birth certificates of 26 other cases are not found in the PSA Civil Registry Database.
Seven other cases of PSA birth certificates still await response from PSA.
Domingo said the National Bureau of Investigation informed them that it has filed cases in court against six of these foreign nationals early this year.
During the meeting of InterAgency Committee on Passport Irregularities last week, the NBI gave assurances that investigation for other cases are still ongoing.
On October 16, the DFA, PSA, NBI, Bureau of Immigration (BI), National Intelligence Coordinating Agency (NICA), Philippine National Police (PNP), PNP’s Philippine Center for Transnational Center (PCTC) and Department of Information and Technology’s
Cybercrime Investigation and Coordinating Center (CICC) signed a memorandum of understanding to stop foreigners from obtaining Philippine passports.
“The MOU has been entered into by the agencies primarily to enhance the coordination between the agencies in effectively enforcing comprehensive mechanisms to address emerging situations and passport fraud cases,” Domingo said.
Among the highlights of the MOU are:
(1) Improve the data sharing efficiency and data verification protocol. This would enable the agencies to subsequently enter into Data Sharing Agreements;
(2) Develop interoperable systems to facilitate seamless communication and real-time updates to employ prompt coordinated responses;
(4) Ensure Legal and Regulatory Compliance that would set the legal parameters to which the agencies must adhere; and
(5) Institute Checks and Balances to expedite and improve the quality of our coordination and cooperation.
(Seerelatedstory: https://businessmirror.com.ph/2024/10/19/ agencies-join-hands-to-preventmore-alice-guos/)
TRO plea vs PhilHealth fund transfer still on table, says high court
Continued From A16
Likewise, the petitioners said Section 11 of the Universal Health Care (UHC) Act prohibits the transfer of PhilHealth reserve funds back to the national treasury or to any government agencies unless the said funds were abandoned or their purpose has already been accomplished.
Meanwhile, the Court has granted the motion of the Federation of Free Workers (FFW) and Nagkaisa Labor Coalition to intervene in the PhilHealth fund transfer issue filed through counsel, Atty. Sonny Matula.
In a resolution dated October 8 and received by the intervenors on October 22, the SC granted the motion challenging the legality of the P89.9-billion transfer from the Philippine Health Insurance Corporation (PhilHealth) to the National Treasury.
The labor groups’ petition raises concerns over the legality and constitutionality of the fund transfer as this would undermine the financial standing of PhilHealth.
The fund transfer, according to the petitioners, threatens the ability of the state health insurer to provide much-needed health care services to millions of Filipino workers and their families.
Matula welcomed the Court’s decision allowing the labor groups to intervene on the issue as this would ensure that workers’ concerns are adequately represented in the legal proceedings.
“They believe that the transfer jeopardizes the sustainability of the Philhealth system, which is a vital lifeline for many laborers across the country,” Matula said.
With Justine Xyrah Garcia
DILG eyes cutting ‘bloated’ numbers of PNP generals
THE Department of the Interior and Local Government (DILG) is now eyeing to trim the “bloated” Philippine National Police (PNP) leadership to streamline its operations.
DILG Secretary Juanito Victor “Jonvic” Remulla said he proposed whittling down the 133 PNP generals to just 25 as part of the PNP’s reforms under his leadership.
“We’re very top- heavy now [in PNP]. So, those are some of the recommendations that we’re gonna make,” he said.
He said the measure is necessary since there are many PNP generals without commands and there are redundancies in the police leadership.
The large number of PNP generals, he said, was the result of existing Civil Service rules, which require the promotion of qualified PNP personnel every three years.
“So we want to change a lot of that, to make it five years so the promotion will be much slower-because [PNP] is becoming topheavy,” Remulla said.
Under his proposal, most of the current PNP generals will be allowed to retire and no longer be replaced with newly promoted officials.
“It’s still a plan, it’s not—again, that’s just one of my recommendations to flatten the organization,” Remulla said.
DILG is now collaborating with the University of the Philippine National College of Public Administration and Governance (UP NCPAG) to come out with the recommendations after four months.
Remulla said they are targeting to start the reform measures by the midterm of the Marcos administration next year.
Samuel P. Medenilla
Comelec: Socmed nonregistrants to face DQ
Continued from A16
However, based on EID’s data, only 62 out of the 44,033 political hopefuls have submitted their registration forms. This includes 179 local government aspirants, three for senatorial bets, and four party-lists.
“If candidates truly have no intention of doing something bad or engaging in unethical practices, they should register their social media accounts,” Garcia said.
The poll chief also clarified that while the Comelec will monitor candidates’ online activities, it will not intrude on the content of their posts—as long as these comply with the standards set by the commission.
“If the Comelec intrudes on their content, it could violate freedom of expression and speech. We shouldn’t allow that,” Garcia explained.
Under the said guidelines, the Comelec will only ban the use of “false amplifiers” such as fake accounts and bots as well as visual disinformation, which are all used to spread targeted false information for or against certain candidates or political parties. The use of artificial intelligence will be allowed as long as proper disclosures are made.
In terms of taking down content that violates Comelec guidelines, Garcia said the commission will do its best to have such content removed within the day the particular post is made. On Monday, the poll body penned an alliance with major technology firms— Meta, Google, and Tiktok—to ensure electoral transparency and integrity, even in the digital landscape.
38. TRAN, THI HONG Vietnamese Business Consultant
Brief Job Description: Plan, organize and manage business projects for
39.
Brief
40. PHAM, THU TRANG Vietnamese Marketing Manager
Brief Job Description: Manage brand image and communications through social media platforms.
41. LE, THI PHUONG ANH Vietnamese Operational Manager
Brief
42. DO MANH CUONG Vietnamese Speaking Marketing Specialist
Brief Job Description: Manage brand image and communications through social media platforms.
43. TRAN, KHANH LINH Vietnamese Speaking Marketing Specialist
Brief Job Description: Manage brand image and communications through social media platforms.
44. VU, VAN TRUNG Vietnamese Speaking Marketing Specialist
Brief Job Description: Manage brand image and communications through social media platforms.
59,999
Qualification: Proficient in speaking, reading and writing in Vietnamese language.
Range: Php 30,000 - Php 59,999
Brief
Editor: Angel R. Calso
October 23,
Israel plans more strikes against Hezbollah-run bank in Lebanon
By Sarah El Deeb & Samy Magdy The Associated Press
BEIRUT—Israel said late Monday it planned to carry out more strikes in Lebanon against a Hezbollahrun financial institution that it targeted the night before and which it says uses customers’ deposits to finance attacks against Israel.
At least 15 branches of Al-Qard AlHasan were hit late Sunday in the southern neighborhoods of Beirut, across southern Lebanon and in the eastern Bekaa Valley, where Hezbollah has a strong presence.
One strike flattened a nine-story building in Beirut with a branch inside it.
The Israeli military issued evacuation warnings ahead of the strikes, and there were no reports of casualties.
Associated Press journalists witnessed strikes late Monday in the coastal region of Ouzai, near Beirut’s airport, and Lebanon’s Health Ministry said an airstrike near Beirut’s largest public hospital killed four, including a child, and wounded 24. It was the first strike on the Lebanese capital in 10 days.
Israeli ground forces invaded Lebanon earlier this month. The military said it aims to push Hezbollah out of southern Lebanon so that tens of thousands of Israelis can return to their homes nearby after more than a year of cross-border rocket and drone attacks. Israeli airstrikes have pounded large areas of Lebanon for weeks, forcing over a million people to flee their homes.
Hezbollah has been launching rockets into Israel nearly every day since Hamas’ deadly raid into Israel last year that sparked the war in Gaza.
The United States is hoping to revive diplomatic efforts to resolve both conflicts after the killing of Hamas leader Yahya Sinwar last week, but so far all sides appear to be digging in.
Hezbollah-run lender filled gaps left by Lebanon’s troubled banks
The Arabic language spokesman for the Israeli military, Avichay Adraee, said—without providing evidence— that Hezbollah stores hundreds of millions of dollars in the branches of Al-Qard Al-Hasan and that the money is used to purchase arms and pay fighters. The strikes were aimed at preventing the group from rearming, he said.
The institution, which has more than 30 branches across Lebanon, tried to reassure customers, saying it had evacuated all branches and relocated gold and other deposits to safe areas.
Many customers are civilians unaffiliated with Hezbollah. Al-Qard Al-Hasan, which is sanctioned by the United States and Saudi Arabia, has long served as an alternative to Lebanon’s banks, which have imposed restrictions on customers since a severe financial crisis that began in 2019.
Israeli military spokesperson Rear Adm. Daniel Hagari said late Monday that Israel planned more strikes on AlQard al-Hasan.
Hagari said Iran funds Hezbollah by sending cash and gold to the Iranian embassy in Beirut, though he did not provide any evidence.
Hagari also said, without providing evidence, that Israeli intelligence had discovered a bunker belonging to former Hezbollah leader Hassan Nasrallah that is now being used as a vault under a hospital in southern Beirut. He said it held millions of dollars of gold and cash.
A member of Lebanon’s parliament who is the director of the hospital, Fadi Alameh, denied the claim, and said the hospital has underground operation rooms. Alameh said the hospital was being evacuated in anticipation of strikes.
Hagari said Israeli strikes in Beirut in early October and in Syria on Monday had also killed people responsible for transferring money between Iran and Hezbollah. Syrian state media said an Israeli airstrike hit a car in the capital of Damascus, killing two people and wounding three.
Israeli airstrikes killed 17 people in Lebanon on Monday, including four first responders, according to the country’s health ministry. The Israeli military said Hezbollah fired 170 projectiles into Israel on Monday.
US envoy says UN resolution that ended past war is ‘no longer enough’
US envoy Amos Hochstein, who has spent much of the past year trying to broker a cease-fire between Israel and Hezbollah, was back in Lebanon on Monday for talks with senior officials.
He said UN Security Council Resolu -
Blinken arrives in Israel as US looks to renew cease-fire efforts after death of Hamas leader
By Farnoush Amiri & Tia Goldenberg The Associated Press
TEL AVIV, Israel—US Secretary of State Antony Blinken arrived in Israel on Tuesday on his 11th visit to the region since the outbreak of the Israel-Hamas war.
He is expected to meet with top officials as the United States looks to revive cease-fire efforts after the killing of top Hamas leader Yahya Sinwar, but so far none of the warring parties appear to be backing down on longstanding demands.
Israel is still at war with Hamas more than a year after the militant group’s October 7 attack, and with Hezbollah in Lebanon, where it launched a ground invasion earlier this month. Israel is also expected to strike Iran after its ballistic missile attack on October 1.
Blinken landed just hours after Hezbollah launched a barrage of rockets into central Israel, setting off air raid sirens in
tion 1701, which ended the 2006 war between Israel and Hezbollah, was “no longer enough” to ensure peace and a new mechanism was needed to enforce it. The resolution called for Hezbollah to withdraw from the border with Israel and for UN peacekeepers and the Lebanese army to control southern Lebanon, without any Hezbollah or Israeli presence. Israel says the resolution was never implemented and that Hezbollah built up extensive military infrastructure right up to the border. Lebanon has long accused Israel of violating its airspace and failing to abide by other provisions of the resolution.
US tries to revive Gaza ceasefire talks after Sinwar’s death THE United States has expressed hope that last week’s killing of Hamas leader Sinwar could give new impetus for a cease-fire in Gaza, which would give a major boost to parallel efforts to halt the fighting in Lebanon.
The head of Israel’s Shin Bet security agency, Ronen Bar, visited Egypt for the second time in less than a week and met with Egyptian officials on Sunday, according to an Egyptian official who was not authorized to brief media and spoke on condition of anonymity.
The official said Egypt, a key mediator between Israel and Hamas, remains opposed to any Israeli presence along the Gaza-Egypt border, a key sticking point in talks that sputtered to a halt in August. Hamas has said its demands remain unchanged after the killing of Sinwar. The militant group has said it will only release dozens of Israeli hostages in return for an Israeli withdrawal from Gaza, a lasting cease-fire and the release of a large number of Palestinian prisoners.
Israeli Prime Minister Benjamin Netanyahu has vowed to destroy Hamas and recover all the captives, and says Israel must maintain an open-ended security presence in Gaza to keep Hamas from rearming.
On October 7, 2023, Hamas-led militants blew holes in Israel’s security fence and stormed in, killing around 1,200 people, mostly civilians, and abducting another 250. Around 100 captives are still being held in Gaza, a third of whom are believed to be dead.
Israel’s offensive in Gaza has killed more than 42,000 Palestinians, according to local health authorities, who don’t distinguish combatants from civilians but say most of the dead were women and children. The war has destroyed large areas of Gaza and displaced about 90 percent of its population of 2.3 million people.
Magdy reported from Cairo. Associated Press writers Julia Frankel in Jerusalem, Bassem Mroue in Beirut, and Melanie Lidman in Tel Aviv, contributed to this report.
the country’s most populated areas but causing no apparent damage or injuries.
The Israeli military said it intercepted most of the five projectiles, with one landing in an open area.
The military said another 15 projectiles were fired from Lebanon into northern Israel at around the same time.
The United States, Egypt and Qatar have brokered months of talks between Israel and Hamas, trying to strike a deal in which the militants would release dozens of hostages in return for an end to the war, a lasting cease-fire and the release of Palestinian prisoners.
But both Israel and Hamas accused each other of making new and unacceptable demands over the summer, and the talks ground to a halt in August.
The US has also tried to broker a cease-fire between Israel and Hezbollah, but those efforts fell apart as tensions spiked last month with a series of Israeli strikes that killed the militant group’s top leader, Hassan Nasrallah, and most of his senior commanders. Israel is currently waging another major operation in already-devastated northern Gaza, which has killed hundreds of Palestinians over the last two weeks according to local health authorities, who do not say how many were combatants. In Lebanon, Israel has carried out waves of heavy airstrikes across southern Beirut and the country’s south and east, areas where Hezbollah has a strong presence. Hezbollah has fired hundreds of rockets, missiles and drones into Israel, including some that have reached the country’s populous center. Hamas-led militants stormed into southern Israel on October 7, 2023, killing some 1,200 people, mostly civilians, and taking another 250 hostage. Around 100 of the captives are still held in Gaza, a third of whom are believed to be dead. Israel’s offensive has killed over 42,000 Palestinians in Gaza and wounded tens of thousands, according to local health authorities, who do not say how many were combatants. It has also caused massive devastation across the territory and displaced around 90% of its population of 2.3 million.
SMOKE rises from an Israeli airstrike on Dahiyeh, in the southern suburb of Beirut on Tuesday, October 22, 2024. AP/BILAL HUSSEIN
Defense Secretary Austin vows to provide Ukraine with what it needs to fight Russia
By Illia Novikov The Associated Press
KYIV, Ukraine—The United States “will get Ukraine what it needs” to fight its war with Russia, US Defense Secretary Lloyd Austin said on an unannounced visit to Kyiv on Monday, but he gave no hint that Washington might endorse key planks of Ukrainian President Volodymyr Zelenskyy’s so-called “victory plan.”
The United States will provide Ukraine with what it requires “to fight for its survival and security,” Austin said in a speech at the Diplomatic Academy of Ukraine. He noted that the US has delivered more than $58 billion in security assistance for Ukraine since Russia’s February 2022 full-scale invasion, making it Kyiv’s main backer.
That includes a new $400 million package of military aid that the Biden administration announced Monday, including munitions for rocket systems and artillery, mortar systems and rounds, armored vehicles and anti-tank weapons. It comes just days after
the U.S. said it was sending $425 million in military assistance to Ukraine.
But Zelenskyy has asked Ukraine’s Western allies to go a few steps further, notably inviting Ukraine to join NATO and letting it use Western-supplied longerrange missiles to strike military targets deep inside Russian territory. Those steps have met with a lukewarm response.
Ukraine is having difficulty holding back a ferocious Russian campaign along the eastern front that is gradually compelling Kyiv’s forces to give up a series of towns, villages and hamlets. It faces a
hard winter after Russia targeted its power grid.
Austin’s remarks were notable for what they did not include— an endorsement of Ukraine being invited into NATO, or any indication the US will support Ukraine becoming more aggressive in its defense with longer-range attacks on Russian soil.
With the US presidential election about two weeks away, US officials are treading carefully.
President Joe Biden has balked at measures that might escalate the war and bring a confrontation between NATO and Russia.
Austin said “there is no silver bullet. No single capability will turn the tide. No one system will end Putin’s assault.”
He added: “Make no mistake.
The United States does not seek war with Russia.”
“What matters is the way that Ukraine fights back,” Austin told the assembled diplomatic and military personnel at the academy.
“What matters is the combined effects of your military capabilities. And what matters is staying focused on what works.”
Zelenskyy said in a Sunday evening video address that his ‘victory plan’ had won the backing of France, Lithuania, Nordic countries and “many other allies” in the European Union, which he didn’t name.
Zelenskyy said he had received
“very positive signals from the United States,” but he stopped short of saying he had secured Washington’s blessing for the plan. Analysts say the US is unlikely to make a decision before the Nov. 5. presidential election.
Russian strikes highlight Ukraine’s need for weapons
The latest Russian strikes on Ukraine, targeting Kyiv, Odesa and Zaporizhzhia, rammed home the urgency for Kyiv officials of clinching guarantees of more support, particularly large amounts of ammunition for the war of at -
trition the sides are engaged in.
A Russian missile attack on the southern city of Zaporizhzhia killed two people and injured 15 in the city center and caused huge damage to civilian infrastructure, including a kindergarten and more than 30 residential buildings, regional Gov. Ivan Fedorov said.
Russia conducted a ballistic missile strike at Kryvyi Rih, Zelenskyy’s hometown, injuring five people, city administration head Oleksandr Vilkul wrote on social media.
According to Vilkul, Russia has conducted ballistic missile attacks
on Kryvyi Rih for three consecutive days, injuring the total of 21 people and damaging dozens of residential buildings and civilian infrastructure.
Machine gunfire and the noise of drones’ engines was also heard in Kyiv’s center throughout the night. Authorities reported minor damages to civilian infrastructure caused by falling drone debris in three districts.
Russia fired three missiles and more than 100 drones at Ukraine overnight from Sunday to Monday, Ukraine’s air force said. Meanwhile, Ukraine’s Foreign Minister Andrii Sybiha met with his Turkish counterpart Hakan Fidan in Ankara on Monday to discuss cooperation between their countries.
According to Ukraine’s Foreign Ministry, the meeting focused on strengthening strategic relations, defense cooperation and addressing global food security through Black Sea grain shipments from Ukraine that pass through Turkey’’ Bosphorus Strait.
Turkish President Recep Tayyip Erdogan has sought to steer a balanced line in his NATO-member country’s close relations with both Ukraine and Russia. He has previously offered to host a peace summit between the two countries.
The Associated Press writer Tara Copp in Washington contributed.
China conducts live-fire drills near Taiwan following recent tensions
TAIPEI, Taiwan—China is holding live-fire drills off the coast of its southern Fujian province facing Taiwan, just a week after a massive air-and-sea drill it called punishment for Taiwan’s president rejecting Beijing’s claims of sovereignty.
The live fire drills were being held near the Pingtan islands off Fujian province from 9 a.m. to 1 p.m., according to a notice from the Maritime Safety Administration. It warned ships to avoid the area. It did not offer additional details.
Taiwan’s Defense Ministry said China’s drills were part of an annual exercise and was tracking them. “It cannot be ruled out that it is one of the ways to expand the deterrent effect in line with the dynamics in the Taiwan Strait,”
the statement added.
Taiwan is a self-ruled island that Beijing claims is part of China. Tensions around the issue have flared in recent years. China
has increased its presence in the waters and skies around Taiwan.
It now increasingly sends large amounts of warplanes and navy vessels in military exercises near
Cuba plunged into darkness: Nationwide blackout enters 4th day, protests erupt amid govt warnings
By Andrea Rodriguez & Milexsy Duran The Associated Press
HAVANA—Cuba’s capital remained largely paralyzed on Monday and the rest of the island braced for the fourth night of a massive blackout that has generated a handful of small protests and a stern government warning that any unrest will be punished.
Hurricane Oscar made landfall Sunday before crossing the island’s eastern coast as a tropical storm Monday with winds and heavy rain, leaving at least six dead after a night that saw protests by several dozen people in urban neighborhoods like Santos Suárez and central Havana.
Some banged pots and pans in the streets, while others demonstrated from their balconies. Protesters who said they have no water blocked at least one street with garbage.
“The country has completely halted,”
said homemaker Mayde Quiñones, 55. She cares for her mother-in-law, who is in her 80s. “This hurts everyone, but the elderly most of all.”
The Cuban government has a low tolerance for civil disobedience and President Miguel Díaz-Canel warned on national television Sunday that “we’re not going to allow any vandalism, or let anyone disturb people’s tranquility.”
The prolonged nationwide blackout followed a massive outage Thursday night, part of energy problems that led to the largest protests in Cuba in almost 30 years, in July 2021. Those were followed by smaller local protests in October 2022 and March 2024.
It’s all part of a deep economic crisis that has prompted the exodus of more than half a million Cubans to the US, with thousands more heading to Europe.
The Cuban government and its allies blame the United States’ 62-year-old trade embargo on the island for its
economic problems but White House press secretary Karine Jean-Pierre said Monday that the Cuban government’s “long-term mismanagement of its economic policy and resources has certainly increased the hardship of people in Cuba.”
Power remains relatively cheap but increasingly unavailable. The Cuban government has said that it’s producing 700 megawatts when peak demand can hit 3 gigawatts. Authorities said by Monday afternoon that about 80 percent of Havana had intermittent power but people were skeptical.
“We have the fridge full of food and we’re scared,” said small-business owner Juan Estrada, 53, whose central Havana business hasn’t had consistent power since Friday morning.
Energy Minister Vicente de la O Levy said in a news conference he hoped that more reliable electricity will be restored by Monday or Tuesday morning but classes remained closed through at least Thursday.
Taiwan and its coast guard carries out patrols. Last week, China held a one-day military exercise aimed at practicing the “sealing off of key ports and key areas.” Taiwan counted a record one-day total of 153 aircraft, 14 navy vessels, and 12 Chinese government ships. In response to Chinese moves, the US has continued to host what it calls “freedom of navigation” transits through the Taiwan Strait. On Sunday, the destroyer USS Higgins and the Canadian frigate HMCS Vancouver transited the narrow band of ocean that separates China and Taiwan. Germany sent two warships through the Taiwan Strait last month as it seeks to increase its defense engagement in the AsiaPacific region. AP
He said that Oscar, which made landfall on the eastern coast Sunday evening, will bring “an additional inconvenience” to Cuba’s recovery since it will touch a “region of strong (electricity) generation.” Key Cuban power plants, such as Felton in the city of Holguín, and Renté in Santiago de Cuba, are located in the area. Oscar later weakened to a tropical storm but its effects were forecast to linger in the island through Monday.
Many of Havana’s 2 million people resorted to cooking with improvised wood stoves on the streets before their food went bad in refrigerators.
People were lining up Monday to buy subsidized food and few gas stations were open.
The failure of the Antonio Guiteras plant on Friday was the latest problem with energy distribution in a country where electricity has been restricted and rotated among different regions at different times. The status of Cuba’s other power plants was unclear.
The Associated Press writer Josh Boak in Washington contributed to this report.
IN this photo provided by the Press Service Of The President Of Ukraine on October 21, 2024, US Secretary of Defense Lloyd Austin, right, and Ukraine’s President Volodymyr Zelenskyy shake hands during their meeting in Kyiv, Ukraine. PRESS SERVICE OF THE PRESIDENT OF UKRAINE VIA AP
Wednesday, October 23, 2024 A11
Mideast conflict looms over US presidential race as Harris and Trump jostle for an edge
By Zeke Miller & Joey Cappelletti The Associated Press
WASHINGTON—Two weeks out from Election Day, the crisis in the Middle East is looming over the race for the White House, with one candidate struggling to find just the right words to navigate its difficult cross-currents and the other making bold pronouncements that the age-old conflict can quickly be set right.
Vice President Kamala Harris has been painstakingly—and not always successfully—trying to balance talk of strong support for Israel with harsh condemnations of civilian casualties among Palestinians and others caught up in Israel’s wars against Hamas in Gaza and Hezbollah in Lebanon.
Former President Donald Trump, for his part, insists that none of this would have happened on his watch and that he can make it all go away if elected.
Both of them are bidding for the votes of Arab and Muslim American voters and Jewish voters, particularly in extremely tight races in the battleground states of Michigan and Pennsylvania.
Harris over the weekend alternately drew praise and criticism over her comments about a pro-Palestinian protester that were captured on a widely shared video. Some took Harris’ remark that the protester’s concerns were “real” to be an expression of agreement with his description of Israel’s conduct as “genocide.” That drew sharp condemnation from Israel’s former ambassador to the US, Michael Oren.
But Harris’ campaign said that while the vice president was agreeing more generally about the plight of civilians in Gaza, she was not and would not accuse Israel of genocide.
A day earlier, the dynamics were reversed when Harris told reporters that the “first and most tragic story” of the conflict was the Oct. 7 Hamas attack last year that killed about 1,200 Israelis. That was triggering to those who feel she is not giving proper weight to the deaths of the more than 41,000 Palestinians who have been killed in Gaza.
Trump, meanwhile, in recent days has participated in interviews with Saudiowned Al-Arabiya and Lebanese outlet MTV, where he promised to bring about peace and said “things will turn out very well” in Lebanon.
In a post on his social media platform Monday, he predicted a Harris presidency would only make matters in the Mideast worse.
“If Kamala gets four more years, the Middle East will spend the next four decades going up in flames, and your kids will be going off to War, maybe even a Third World War, something that will never happen with President Donald J. Trump in charge,” Trump posted. “For our Country’s sake, and for your kids, Vote Trump for PEACE!”
Harris’ position is particularly awkward because as vice president she is tethered to President Joe Biden’s foreign policy decisions even as she’s tried to strike a more empathetic tone to all parties. But Harris aides and allies also are frustrated with what they see as Trump largely getting a pass on some of his unpredictable foreign policy statements.
“It’s the very thoughtful, very careful school versus the showboat,” said James Zogby, founder and president of the Arab American Institute, who has endorsed Harris. “That does become a handicap in these late stages when he’s making all these overtures. When the bill comes due they’re going to walk away emptyhanded, but by then it’ll be too late.”
The political divisions on the campaign trail augur potentially significant implications after Election Day
as powers in the region, particularly Israel’s Benjamin Netanyahu, closely eye the outcome and the potential for any shifts to US foreign policy.
A new AP-NORC poll finds that neither Trump nor Harris has a clear political advantage on the situation in the Middle East. About 4 in 10 registered voters say Trump would do a better job, and a similar share say that about Harris. Roughly 2 in 10 say neither candidate would do a better job.
There are some signs of weakness on the issue for Harris within her own party, however. Only about two-thirds of Democratic voters say Harris would be the better candidate to handle the situation in the Middle East. Among Republicans, about 8 in 10 say Trump would be better.
In Michigan, which has the nation’s largest concentration of Arab Americans, the Israel-Hamas war has profound and personal impacts on the community. In addition to many community members having family in both Lebanon and Gaza, Kamel Ahmad Jawad, a metro Detroit resident, was killed while trying to deliver aid to his hometown in southern Lebanon.
The war’s direct impact on the community has fueled outrage and calls for the US to demand an unconditional cease-fire and impose a weapons embargo on Israel.
Although both parties have largely supported Israel, much of the outrage and blame has been directed at Biden.
When Harris entered the race, many Arab American leaders initially felt a renewed sense of optimism, citing her past comments and the early outreach efforts of her campaign.
However, that optimism quickly faded as the community perceived that she had not sufficiently distanced her policies from those of Biden.
“To say to Arab Americans, ‘Trump is going to be worse’—what is worse than having members of your family killed?” said Rima Meroueh, director of the National Network for Arab American Communities. “That’s what people are saying when they’re asked the question, ‘Isn’t Trump going to be worse?’ It can’t be worse than what’s happening to us right now.”
Future Coalition PAC, a super PAC backed by billionaire Elon Musk, is running ads in Arab American communities in Michigan focused on Harris’ support for Israel, complete with a photo of her and her husband, Doug Emhoff, who is Jewish. The same group is sending the opposite message to Jewish voters in Pennsylvania, attacking her support for the withholding of some weapons from Israel—a Biden administration move to pressure the longtime US ally to limit civilian casualties.
Harris spokesperson Morgan Finkelstein cast Trump’s approach toward the Middle East as part of a broader sign that “an unchecked, unhinged Trump is simply too dangerous—he would bring us right back to the chaotic, go-it-alone approach that made the world less safe and he would weaken America.”
Cappelletti reported from Lansing, Michigan. Associated Press writer Linley Sanders contributed to this report.
King Charles III ends Australia visit marred by anti-monarchist protests
MBy Rod Mcguirk
The Associated Press
ELBOURNE, Australia—King
Charles III ends the first visit to Australia by a reigning British monarch in 13 years Tuesday as antimonarchists hope the debate surrounding his journey is a step toward an Australian citizen becoming head of state. Charles and his wife, Queen Camilla, watched dancers perform at a Sydney Indigenous community center. The couple used tongs to cook sausages at a community barbecue lunch at the central suburb of Parramatta and later shook the hands of well-wishers for the last time during their visit outside the Sydney Opera House. Their final engagement was an inspection of navy ships on Sydney Harbor in an event known as a fleet review.
Charles’s trip to Australia was scaled down because he is undergoing cancer treatment. He arrives in Samoa on Wednesday.
Indigenous activist Wayne Wharton, 60, was arrested outside the opera house early Tuesday afternoon before the royals greeted the crowd. “It will be alleged the man was acting
in an abusive and threatening manner and had failed to comply with two previous move-on directions,” a police statement said. He was charged with failing to comply with a police direction and will appear in court on Nov. 5. Wharton said he intended to serve Charles with a summons to appear in court on war crimes and for genocide but never got close to the couple. The royal visit was “a slap in the face to every decent Aboriginal person and fairminded person in Australia that’s tried to make a go of their lives,” Wharton told the AP after his arrest. On Monday, Indigenous independent senator Lidia Thorpe yelled at Charles during a reception that he was not her king and Australia was not his land. Wharton said he backed Thorpe “absolutely 100 percent.” He had protested with a small group of demonstrators outside a Sydney church service the couple attended on Sunday under a banner “Empire Built on Genocide.” Esther Anatolitis, co-chair of the Australian Republic Movement, which campaigns for an Australian citizen to replace See “King Charles,” A13
Peru’s ex-president gets more than 20 years in prison in case linked to corruption scandal
By Franklin Briceño & Regina Garcia Cano
The Associated Press
LIMA, Peru—Peru’s former President Alejandro Toledo on Monday was sentenced to 20 years and six months in prison in a case involving Brazilian construction giant Odebrecht, which became synonymous with corruption across Latin America, where it paid millions of dollars in bribes to government officials and others.
Authorities accused Toledo of accepting $35 million in bribes from Odebrecht in exchange for allowing the construction of a highway in the South American country. The National Superior Court of Specialized Criminal Justice in the capital, Lima, imposed the sentence after years of legal wrangling, including a
dispute over whether Toledo, who governed Peru from 2001 to 2006, could be extradited from the United States.
Judge Inés Rojas said Toledo’s victims were Peruvians who “trusted” him as their president. Rojas explained that in that role, Toledo was “in charge of managing public finances” and responsible for “protecting and ensuring the correct” use of resources. Instead, she said, he “defrauded the state.”
She added that Toledo “had the duty to act with absolute neutrality, protect and preserve the assets of the state, avoiding their abuse or exploitation,” but he did not do so.
Odebrecht, which built some of Latin America’s most crucial infrastructure projects, admitted to US authorities in 2016 to having bought government contracts throughout the region with generous bribes. The investigation by the US Department of Justice spun probes in several countries,
including Mexico, Guatemala and Ecuador.
In Peru, authorities accused Toledo and three other former presidents of receiving payments from the construction giant. They alleged Toledo received $35 million from Odebrecht in exchange for the contract to build 650 kilometers (403 miles) of a highway linking Brazil with southern Peru. That portion of the highway was initially estimated to cost $507 million, but Peru ended up paying $1.25 billion.
Rojas at one point read parts of the testimony from Jorge Barata, a former Odebrecht executive in Peru, who told prosecutors that the former president called him up to three times after leaving office to demand that he be paid. Toledo lowered his gaze and looked at his hands as Rojas read the expletive-laden remarks that Barata recounted to prosecutors.
Toledo has denied the accusa -
tions against him. His attorney, Roberto Siu, told reporters after the hearing that they will appeal the sentence.
The former president on Monday frequently smirked, and at times laughed, particularly when the judge mentioned multimilliondollar sums central to the case as well as when she struggled to read transcripts and other evidence in the case. Throughout the hearing, he also leaned to his right to speak with his attorney.
In contrast, last week, he asked the court with a broken voice and his hands together, as if he were praying, to let him return home citing his age, cancer and heart problems.
Toledo, 78, was first arrested in 2019 at his home in California, where he had been living since 2016, when he returned to Stanford University, his alma mater, as a visiting scholar to study education in Latin America. He was initially held in solitary con -
finement at a county jail east of San Francisco but was released to house arrest in 2020 because of the Covid-19 pandemic and his deteriorating mental health. He was extradited to Peru in 2022 after a court of appeals denied a challenge to his extradition and he surrendered to authorities. He has since remained under preventive detention.
Rojas said Toledo will get credit for time served starting in April 2023. He will serve the remainder of his sentence at a prison on the outskirts of Lima that was built specifically to house former Peruvian presidents.
Prosecutor José Domingo Pérez after the hearing described the sentence as “historic” and said it shows Peruvians that “crimes and corruption are punished.” Odebrecht rebranded as Novonor in 2020.
Garcia Cano reported from Mexico City.
South Korea considers weapon supplies to Ukraine amid alleged North Korean troop dispatch to Russia
By Hyung-Jin Kim The Associated Press
SEOUL, South Korea—South Korea warned Tuesday it could consider supplying weapons to Ukraine in response to North Korea allegedly dispatching troops to Russia, as both North Korea and Russia denied the movements. The South Korean statement is apparently meant to pressure Russia not to bring in North Korean troops in its war against Ukraine. South Korean officials worry that Russia may reward North Korea by giving it sophisticated weapons technologies that can boost the North’s nuclear and missile programs that target South Korea. In an emergency National Security Council meeting, top South Korean officials condemned North Korea’s alleged dispatch of troops as “a grave security threat” to South Korea and the international community. They described North Korea as “a criminal group” that forces its youths to serve as Russian mercenaries for an unjustifiable war, the South Korean presidential office said in a statement.
The officials agreed to take phased countermeasures, linking the level of their responses to progress in Russian-North Korean military cooperation, according to the statement. Possible steps include diplomatic,
the British monarch as Australia’s head of state, said while thousands turned out to see the king and Camilla at their public engagements, the numbers were larger when his mother Queen Elizabeth II first visited Australia 70 years ago.
An estimated 75 percent of Australia’s population saw the queen in person during the first visit by a reigning British monarch in 1954.
“It’s understandable that Australians would be welcoming the king and queen, we also welcome them,” Anatolitis said. “But it doesn’t make any sense to continue to have a head of state appointed by birth right from another country.”
Anatolitis acknowledged that getting a majority of Australians in a majority of states to vote to change the constitution would be difficult. Australians haven’t changed their constitution since 1977.
Constitutional lawyer Anne Twomey said an Australian republic is not something that Charles, 75, need worry about in his lifetime.
She said the failure of a referendum last year to create an “utterly innocuous” Indigenous representative body to advise government demonstrated the difficulty.
economic and military options, and South Korea could consider sending both defensive and offensive weapons to Ukraine, a senior South Korean presidential official told reporters on condition of anonymity in a background briefing. The official said North Korea could attempt to get high-tech Russian technologies to perfect its nuclear missiles. The official said Russia’s possible help for North Korea’s efforts to modernize its outdated conventional weapons systems and acquire a space-based surveillance system would pose a serious security threat to South Korea as well.
North Korea and Russia intensify cooperation
SINCE Russia’s invasion of Ukraine in 2022, South Korea has joined US-led sanctions against Moscow and shipped humanitarian and financial support to Kyiv. But it has avoided directly supplying arms to Ukraine in line with its policy of not supplying weapons to countries actively engaged in conflicts.
South Korea’s spy agency said last week it had confirmed that North Korea sent 1,500 special operation forces to Russia this month. Ukrainian President Volodymyr Zelenskyy has said his government had intelligence that 10,000 North Korea soldiers were being prepared to
“It’s just that on the whole people aren’t prepared to change the constitution,” Twomey said.
“So a republic, which would be a much more complex constitutional question than the one last year, would be far more vulnerable to a scare campaign and to opposition,” she said.
“So unless you had absolutely unanimous support across the board and a strong reason for doing it, it would fail,” she added.
Philip Benwell, national chair of the Australian Monarchist League, which wants to maintain Australia’s constitutional link to Britain, said he was standing near Thorpe at the Canberra reception when she started yelling at the king and demanding a treaty with Indigenous Australians.
“I think she alienated a lot of sympathy. If anything, she’s helped to strengthen our support,” Benwell said. Thorpe has been criticized, including by some Indigenous leaders, for shouting at the king and failing to show respect. Thorpe was unrepentant. She rejected criticism that her aggressive approach toward the monarch was violent.
“I think what was unacceptable is the violence in that room, of the King of England praising himself, dripping in stolen wealth, that’s what’s violent,” Thorpe told Australian Broadcasting Corp. “The violence is from the
join invading Russian forces.
North Korea and Russia have been sharply boosting their cooperation in the past two years. In June, they signed a major defense deal requiring both countries to use all available means to provide immediate military assistance if either is attacked. South Korea said at the time it would consider sending arms to Ukraine, a similar statement that it made Tuesday.
South Korea’s spy agency said that North Korea had sent more than 13,000 containers of artillery, missiles and other conventional arms to Russia since August 2023 to replenish its dwindling weapons stockpiles.
North Korea and Russia have denied the North Korean troop deployment as well as the purported weapons transfer.
At a UN Security Council meeting Monday, Russia’s UN Ambassador Vassily Nebenzia dismissed the South Korean assertion as well as Western allegations of Iran supplying Russia with missiles and China providing arms components. He accused the West of “circulating scaremongering with Iranian, Chinese and Korean bogeymen, each one of which is more absurd than the one before.”
The Associated Press writer Kim Tonghyung contributed to this report.
colonizer being in that room asserting his authority, being paid for by every taxpayer in this country.”
Australian Prime Minister Anthony Albanese wants Australia to become a republic but has ruled out a referendum during his first three-year term. A vote remains a possibility if his center-left Labor Party wins elections due by May next year.
Australians decided in a referendum in 1999 to retain Queen Elizabeth II as head of state. That result is widely regarded as having been the consequence of disagreement about how a president would be chosen rather than majority support for a monarch.
Sydney University royal historian Cindy McCreery suspects Australia is not yet ready to make the change.
“There’s interest in becoming a republic, but I think what we may forget is that logistically speaking we’re not going to have a referendum on that issue any time soon,” McCreery said.
“I, as a historian, think that it’s probably not realistic to expect a successful referendum on a republic until we’ve done more work on acknowledging our...complicated history,” she said.
“Becoming a republic doesn’t mean that we’ve somehow thrown off British colonialism. It hopefully has meant that we’re engaging with our own history in an honest and thoughtful way,” she added.
Marcos administration enacts landmark law to tackle agricultural cartels and smuggling
The Marcos administration enacted one of the most important measures that could improve the competitiveness of the country’s agriculture sector last month. President Ferdinand Marcos Jr. signed Republic Act (RA) 12022, or the Anti-Agricultural economic Sabotage Act (AGeS), on September 26 (see “‘New law will dismantle cartels behind smuggling of agri goods’,” BusinessMirror, September 27, 2024). The primary objective of the law is to dismantle cartels behind the smuggling and hoarding of agricultural products and to prevent profiteers from taking advantage of supply tightness.
RA 12022 prescribed several strategies to deter smuggling and cartel activities, including the establishment of the daily price index (DPI) and the creation of Anti-Agricultural Economic Council, which is chaired by the President. Of the strategies indicated in RA 12022, the most far-reaching is the creation of the DPI. The law defined DPI as a system of monitoring and publishing or broadcasting the prevailing retail prices of agricultural and fishery products in all regions of the country on a day-to-day basis.
Section 5 of AGES mandates the Agribusiness and Marketing Assistance (AMAS) and the Bureau of Agricultural Research (BAR) and the Department of Agriculture (DA) to establish, strengthen and maintain a DPI. The law also indicated that the Bureau of Internal Revenue (BIR), in consultation with the National Tobacco Administration, will set a minimum price for the sale of tobacco products. The minimum retail price will take into account the applicable taxes, reasonable production cost, and trade margins for the lowest priced brands registered with the BIR.
In coming up with the prices, the AMAS and BAR are directed to ensure that the DPI exhibits transparency and accountability. The two agencies attached to the DA are required to publish the DPI on their official websites and social media platforms. They are also subject to a periodic audit by an independent party to be decided by the council.
The Foreign Agricultural Service (FAS) of the United States Department of Agriculture noted in a report last week that DPI serves as a reference in determining whether economic sabotage is committed. Chapter 3, section 7 of the law indicates that economic sabotage is committed when the value of each or of the combination of agricultural and fishery products by individuals or groups is at least P10 million using the DPI as basis.
The law specifies that DA, AMAS and BAR must be able to develop the index within 90 days from the effectivity of the law. Of the initial amount of P500 million mandated by the law to be allocated for the implementation of RA 12022, 10 percent will go to the creation and maintenance of DPI. The lion’s share of the initial amount was allocated for the Enforcement Group.
The index will not only help farmers, but also consumers, who will ultimately pay the price for the lack of scruples of some traders. Congress has given the concerned agencies the necessary resources and prescribed the period for establishing it. We hope that the DA and its attached agencies will be able to comply with the law and put in place a key measure that aims to give the government more weapons to fight the scourge that is smuggling.
Shield against disasters
IMark Villar
THE BUILDER
N this age of global warming and extreme weather, infrastructure projects are our best defense to save lives and protect the population.
We all know how infrastructure projects play a crucial role in nationbuilding and economic development. Kingdoms and civilizations in the past had thrived due to the highquality infrastructure they built, such as the Great Wall of China, the canals of Europe, or the railways in the United States.
Infrastructure today can range from roads to power lines to fiberoptic cables that make our daily lives more convenient. Beyond enhancing mobility and providing services, well-built infrastructure projects can also protect people and communities from extreme weather.
This was a key takeaway from the 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) held in Pasay City on October 15, 2024.
Experts noted the increasing frequency of natural disasters due to climate change. Amid global warming, resilient infrastructure can reduce our vulnerability to natural hazards.
While we are still far from having energy shields like those depicted in science fiction movies, we can develop waterways, dikes or antiflood projects that can divert high volumes of water during torrential rains. The Netherlands, for example, has invested heavily in dams and canals to prevent seawater incursion in Amsterdam.
We should design similar plans for waterfront areas below or near sea level, such as parts of Metro Manila, Laguna, Cavite and Bulacan.
Many areas in the country typically experience flooding during the rainy season and drought during the dry season. Infrastructure holds the key to addressing this dilemma. By building larger dams and irrigation canals, we can store enough water during the wet months to meet household, agricultural or industrial demand for the entire year.
Although we cannot prevent strong typhoons from slamming into the Philippines, we can mitigate the
By Nicholas Takahashi
AFTeR three decades of ultra-loose monetary policy, even small hikes in interest rates by the Bank of Japan are poised to fuel an increase in the number of zombie companies that could be tipped into insolvency.
Bankruptcies topped 5,000 cases for the first time in a decade between April and September, a report by Tokyo Shoko Research showed earlier this month. Those 5,095 firms collectively account for almost ¥1.38 trillion ($9.2 billion) yen in debt, with the largest slice coming from the service industry. Defined as businesses that struggle to pay the interest on debt from operating profit alone, zombie companies have survived for years in Japan thanks to low rates and government support. Unable to invest or hire, they’re stifling the emergence of new enterprises and preventing job mobility. Clearing them out may
not be such a bad thing, and make way for new, healthier enterprises, according to Nicholas Smith, strategist at CLSA Securities Japan Co.
“None of them will be missed,” Smith said. “We’ve got to a situation where we are not concerned about unemployment in Japan. In fact, what we’re most concerned about is a severe labor shortage.”
A 0.1 percentage point rise in the benchmark rate could boost the number of these corporate zombies, which spend most of their profit paying down debt, to around 632,000 from around 565,000, according to a report earlier this year by the research firm.
Many areas in the country typically experience flooding during the rainy season and drought during the dry season. Infrastructure holds the key to addressing this dilemma. By building larger dams and irrigation canals, we can store enough water during the wet months to meet household, agricultural or industrial demand for the entire year.
damage by ensuring our infrastructure, buildings and homes are sturdy enough to withstand strong winds.
One recommendation is to place all power and telecom lines underground to insulate them from falling debris. This, of course, will require significant investments from power distributors and telecom companies.
Elevated roads have already proven their usefulness during heavy rains, as motorists can use them to escape or avoid flooded streets. Soon, we will have subways and elevated railways that can help passengers navigate Metro Manila safely during the rainy season.
To prevent roads from being inundated, we must ensure that all of them are connected to a wellfunctioning drainage system that is large enough to absorb sudden downpours. In several countries, sewerage systems are big enough for people to walk into.
President Ferdinand Marcos Jr. himself emphasized the need to build
more climate-resilient infrastructure during the APMCDRR conference. The event brought together officials and representatives from various government agencies, civil society organizations, the private sector, academia and other stakeholders.
President Marcos cited the need to increase investments in disaster risk reduction and develop financing mechanisms to address these risks. National Economic and Development Authority Secretary Arsenio Balisacan also joined the event to stress the importance of public-private partnerships (PPPs) to finance climate-resilient infrastructure.
Secretary Balisacan said while most PPP projects in the Philippines are in the physical and digital connectivity sectors, major water supply, flood control and irrigation infrastructure projects are also in the pipeline to meet the economy’s growing needs while ensuring climate-change resiliency. PPP projects, as the name suggests, rely on the private sector to finance new projects, as the national government has limited funds. The Department of Public Works and Highways, for example, needs to maintain roads and bridges across the country while building new ones. If these projects require tens or hundreds of billions of pesos, the government will often seek funding from multilateral lenders, such as the Japan International Cooperation
See “Villar,” A15
Bankruptcies topped 5,000 cases for the first time in a decade between April and September, a report by Tokyo Shoko Research showed earlier this month. Those 5,095 firms collectively account for almost ¥1.38 trillion ($9.2 billion) yen in debt, with the largest slice coming from the service industry.
One of them is HIS Co., one of the country’s largest travel agencies. The Tokyo-based company posted ¥1.4 billion in operating profit in its latest fiscal year, which ends in October, but spent ¥1.5 billion on net interest expenses.
Known for its low-cost package tours, HIS has been struggling due to the dearth of post-pandemic outbound travel from Japan, in contrast to the flood of tourists visiting the country. That’s partly due to the
weak yen, another legacy of decades of low interest rates. HIS took on more liabilities after 2020 and now holds ¥30 billion in debt, according to data compiled by Bloomberg. The company declined to comment. The term “zombie company” was coined in 2008 by three professors, including University of Tokyo Professor Takeo Hoshi. He defines a zombie as a company that hasn’t addressed operational concerns, but has avoided bankruptcy thanks to the financial support of the government or creditors. The Bank for International Settlements, on the other hand, defines one as a firm founded more than 10 years ago that has logged an interest coverage ratio lower than 1 for more than three years. One of the biggest bankruptcies this year was MSJ Asset Management Co., which held ¥641.3 billion See “Zombie,” A11
Bonds are selling off everywhere as traders trim rate-cut bets
By Ruth Carson & Masaki Kondo
BONdS from Australia to Japan are falling as investors mull prospects of slower US interest-rate cuts, a trend that risks upending debt positions everywhere.
Yields on Australian notes due in a decade jumped as much as 10 basis points, echoing Monday’s selloff in Treasuries. New Zealand’s 10-year yields climbed as much as seven basis points, while those in Japan rose two basis points to 0.975 percent—near a two-month high.
At the heart of the global debt selloff is investor soul searching around Federal Reserve rate-cut expectations and whether once again they appear overdone. A robust US economy, firming odds of a Donald Trump election victory and cautious comments from Fed officials on the pace of monetary easing muddies the prospects of gains for bond traders everywhere.
“Even in those markets where sentiment is extremely dovish, we are seeing yields sell off,” said Prashant Newnaha, senior rates strategist at TD Securities in Singapore, referring to New Zealand’s bonds as an example. There’s a possibility the Fed may be on hold for six months next year, which isn’t something that the markets have really priced in, he said. Overnight-indexed swaps suggest a 25-basis-point Fed rate cut next month is no longer certain. Apollo Management is among those seeing the central bank potentially keeping rates unchanged at its next meeting, while others such as T. Rowe Price see US 10-year yields climbing to 5 percent next year on risks of shallower rate cuts and as growth improves.
“Treasuries may struggle in the coming months, with a strong upward bias for yields as the US economy stays resilient and supply concerns grow,” said Garfield Reynolds, Bloomberg’s Markets Live strategist. Repricing on rate paths are also emerging elsewhere.
Swaps are signaling the Reserve Bank of Australia will cut its benchmark rate cut by only about 50 basis points through to the end of August next year, half of what was priced in after the September policy meeting. Similarly, traders brought forward their forecast for the next Bank of Japan rate hike to June, compared
continued from A10
Agency, the World Bank, or the Asian Development Bank. The borrowings can lead to higher debt for the country. PPP projects, on the other hand, are funded by private companies that will eventually operate and manage roads and railways in exchange for toll or fees. These include expressways, airports, ports, water systems, power infrastructure, telecom and Internet facilities.
Data from the Public-Private Partnership (PPP) Center show there are
continued from A14
when it was liquidated by Mitsubishi Heavy Industries Ltd. after its failure to enter the domestic jetliner business.
Others include the plastics recycling company Eco Research Institute Ltd., medical device supplier Hokushin Medical Co. and Asahi Food Create Ltd., which sold preprepared food. Besides banking and insurance, every sector and region in Japan saw an increase in bankruptcies during those six months. As interest rates are hiked and major industries like transportation, artificial intelligence and software see aggressive competition from
Ramon S. Ang: The ultimate nation builder
At the heart of the global debt selloff is investor soul searching around Federal Reserve rate-cut expectations and whether once again they appear overdone. A robust US economy, firming odds of a Donald Trump election victory and cautious comments from Fed officials on the pace of monetary easing muddies the prospects of gains for bond traders everywhere.
with later than July seen last month.
Demand for long-term holdings of Japanese “10-year bonds, which carry relatively high interest-rate risk, is likely to be limited” in this environment, Keisuke Tsuruta, a senior fixed-income strategist at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo, wrote in a research note.
Not everyone is expecting the selloff to gain momentum. The Fed and Reserve Bank of New Zealand, among others, are in the midst of rate-cutting cycles, which should generate an underlying bid for bonds.
“We probably see a slight correction from here,” said Lucinda Haremza, vice president of fixedincome sales at Mizuho Securities in Singapore. There’s “risk of a stronger rally on rising Middle-East tensions or a Harris election win,” she said.
For now though, issues around US debt supply, election hedging and markets front-running the risks of a Republican “red sweep” at the polls may keep weighing on bonds. BlackRock Investment Institute is among those underweight shortermaturity Treasuries.
“We don’t think the Fed will cut rates as sharply as markets expect,” strategists at the company including Wei Li wrote in a note. An ageing workforce, persistent budget deficits and the impact of structural shifts such as geopolitical fragmentation should “keep inflation and policy rates higher over the medium term,” they wrote. Bloomberg
169 projects worth P3.2 trillion in the pipeline. Most of these projects are at the national level, while the rest will be implemented by local government units (LGUs). We need effective strategies to mitigate the impact of natural disasters, and building better infrastructure is one of them. We should encourage the private sector to invest more in projects that will protect us from natural disasters today and in the years to come.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph
global players, that number is set to keep growing. Even Japan’s larger companies aren’t immune to the prospect of insolvency anymore. Panasonic Liquid Crystal Display Co. topped the nation’s list of bankruptcies in 2023. Competition made the LCD panel business shift its focus to the automotive and industrial sectors, but trade tensions between the US and China led its parent company to shutter the business. Panasonic Holdings Corp. decided to liquidate the unit’s assets and waive the ¥583.6 billion it owed in loans to another one of its subsidiaries. The electronics maker’s move in 2021 to adopt a holding company structure sought to improve the accountability and profitability of each division. In May, Chief Execu-
(This is the beginning of a series of columns that I will write to recognize and celebrate corporate and industry leaders who have made significant contributions to national development and the betterment of our citizens’ lives. By highlighting their impactful work, I hope to inspire others to follow their lead in driving positive change and progress for our country. In sharing their stories, I aim to foster a greater appreciation for the vital role the private sector can play in complementing the government’s efforts towards inclusive growth and social development. It is my sincere hope that this series will encourage more entrepreneurs and business leaders to leverage their influence and resources for the greater good of our nation.)
IN my view, Ramon S. Ang, the President and CEO of San Miguel Corporation, stands out as a paramount nation builder. His array of qualities and skills embody the essential traits a leader needs to advance the development and prosperity of a nation. Through San Miguel’s involvement in various crucial sectors like food production, power, fuel, and infrastructure, Ang’s contributions play a vital role in fostering a more progressive Philippines.
I have been fortunate to have a long-standing acquaintance with Mr. Ang. Our paths intertwined when the late SMC President Danding Cojuangco acquired San Pablo Manufacturing Corp., the renowned producer of Minola cooking oil. During that period, I held the position of marketing head for Baguio Oil, the leading cooking oil brand at the time. Danding convinced me to join the company, entrusting me with the responsibility of spearheading the marketing team for Minola.
Even from those initial days, I recognized Mr. Ang’s exceptional business acumen, strategic foresight, and unwavering entrepreneurial spirit. However, what truly leaves an indelible impression on me is his sincere concern for the well-being of ordinary workers.
A glowing testament to his compassion unfolded during the construction of the approach for the Skyway project. I had the privilege of being present with Danding when Mr. Ang shared a story about personally delivering food to the hardworking laborers who were toiling beyond
their regular hours. This humble yet meaningful act epitomized his steadfast dedication to the welfare of the workforce. Such profound care for ordinary employees reverberates throughout San Miguel Corp., fostering a harmonious and motivated atmosphere for all 45,000 individuals within the organization.
Mr. Ang embodies the essence of a down-to-earth leader, and it became evident to me that his own happiness stems from bringing joy to others, especially the ordinary workers.
Mr. Ang—widely known as RSA—has played a pivotal role in shaping the impressive growth and expansion of San Miguel Corp. Through his remarkable leadership, SMC has undergone a profound transformation, emerging as a formidable force across multiple industries. The company’s reach now extends across diverse sectors such as food and beverages, packaging, power generation, infrastructure development, and oil refining. RSA’s strategic guidance has propelled SMC to new heights, solidifying its position as a power -
house in the business landscape. RSA strategically steered SMC into new ventures, capitalizing on emerging opportunities and diversifying its portfolio. One of the notable sectors where SMC has thrived under his guidance is the food and beverages industry. SMC is renowned for its iconic beer brands, such as San Miguel Pale Pilsen, which have garnered widespread popularity both locally and internationally. Beyond beer, SMC has expanded its food and beverage offerings to include a wide range of products, including spirits, juices, dairy products, and processed meats. In addition to the food and beverages sector, RSA has spearheaded SMC’s presence in other industries as well. SMC has made significant strides in packaging, power generation, infrastructure development, and oil refining. The company’s packaging business encompasses a variety of packaging materials and solutions, catering to diverse industries and consumer needs. Through strategic investments, SMC has also ventured into power generation, establishing itself as a key player in the energy sector.
SMC’s foray into oil refining is another testament to RSA’s strategic vision. The company owns and operates modern refining facilities, ensuring a stable supply of petroleum products for both domestic and international markets.
Through RSA’s strategic business approach, SMC has successfully embarked on a path of substantial international expansion. This strategic direction has driven the company to make notable investments and acquisitions overseas, resulting in the establishment of a strong global presence and a diversified range of revenue streams.
Recognizing the opportunities presented by global markets, RSA has guided SMC in venturing beyond its domestic borders. The company’s strategic investments abroad have enabled it to tap into new markets, broaden its customer base, and leverage international opportunities for growth. By acquiring businesses and forg-
ing strategic partnerships overseas, SMC has been able to extend its reach and diversify its operations. These ventures have allowed the company to expand its portfolio of products and services, taking advantage of the unique strengths and opportunities presented by different markets around the world.
RSA’s influence extends far beyond his position at San Miguel Corporation. Engaging in a multitude of philanthropic endeavors, he has made substantial contributions to charitable causes. His unwavering commitment to nation building is evident through his active support of initiatives that strive to enhance education, healthcare, and disaster response in the Philippines.
RSA’s involvement in a plethora of noteworthy infrastructure projects is commendable. Some of these notable ventures include the Manila Skyway Stage 3, MRT-7, South Luzon Expressway (Slex) Toll Road 4, TPlex (Tarlac-Pangasinan-La Union Expressway) and SCtex (Subic-ClarkTarlac Expressway), Bulacan Airport, and the rehabilitation project for Ninoy Aquino International Airport (Naia).
Mr. Ang has unveiled an extensive strategy aimed at enhancing and modernizing the passenger experience at Naia. This plan encompasses technological advancements, closer partnerships with government agencies, and strategic improvements. This bold public-private venture requires a substantial investment of P171 billion, with the aim of boosting the airport’s passenger capacity to 62 million and generating annual government revenues of P36 billion. I commend Mr. Ang for his notable role in advancing the economic prosperity of the Philippines through this initiative. Indeed, RSA stands as a paramount figure in nationbuilding efforts.
Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.
Private credit set to jump on higher interest rates in Australia
By Amy Bainbridge & Sharon Klyne
SOME of Australia’s large institutional investors are looking for growth in the nascent local private debt market to take advantage of elevated interest rates and as banks shy away from riskier lending.
IFM Investors Pty., owned by the nation’s top pension funds, has seen its A$12 billion ($8 billion) Australian debt portfolio, which includes private credit, grow by about 20 percent annually in the last two years. QIC Ltd., meanwhile, is aiming to double its A$1.5 billion private debt business in the next two to three years as both firms seek alternatives to the traditional bond and loan markets.
Private credit funds are benefiting from reluctance by banks to lend to the sector due to possible pitfalls, with regulators stepping up supervision of the asset class. In Australia, the market has grown into a A$40
tive Officer Yuki Kusumi said he’ll seek to improve underperforming units by finding their “best owner.”
Debt-laden companies in Japan are rapidly growing in number, in some measures even faster than in 1992 after the collapse of its asset price bubble. Zombie companies accounted for 14% of listed firms in Japan, according to Tokyo Shoko Research.
Zombies are found concentrated in Japan’s sectors where the labor shortage is most prominent, namely restaurants, hotels, transportation and tourism.
An unproductive company can’t maintain employment or competitiveness, it can’t buy or sell and it surely can’t turn a profit. Especially outside of metropolitan population centers, persistently strug -
billion industry, according to data compiled by the Reserve Bank of Australia and offers potential for growth as it makes up for just 2.5% of total business debt.
Interest rates at a 12-year high are offering good returns for domestic pension funds, with recent strong employment data giving policymakers little cause to ease borrowing costs.
“We’ve seen quite a lot of flows come in over the last 12 to 18 months,” Hiran Wanigasekera, IFM’s co-head of Australian diversified credit, said in an interview. “It’s the relative value opportunity right now that base rates are up and credit of-
gling companies make investment difficult.
But decades of cheap credit and generous handouts have bred a generation of unproductive companies with teetering balance sheets. During the pandemic, the Japanese government funneled trillions into these kinds of businesses—some experts believe those “no interest, no collateral” loans may have been a major catalyst for the recent spike in bankruptcies.
When a small or mid-sized firm goes under, their employees are let loose, free to find work elsewhere, hopefully at a company that’s more profitable, productive and better at balancing its books. If anything, it’s a natural if not intended byproduct of the BOJ’s rate hikes, one could that help counteract an ongoing la-
fers a very good alternative and a more stable return.” IFM’s private credit funds are targeting returns of 10 percent to 11 percent per annum. Global private credit has more than tripled to $1.5 trillion since 2014, excluding yuan-denominated funds, according to figures at the end of December 2023 from investment data firm Preqin Ltd.
As the industry grows, the Australian Securities and Investments Commission has said it will set up a specialized unit to engage with the private markets amid persistent concerns about valuations. ASIC, one of two regulators in the pensions industry, is engaging with market participants to examine where improvements should be made.
ASIC is monitoring superannuation funds’ financial reporting and disclosures, Commissioner Simone Constant told Bloomberg last month, adding that as banks retreat, pensions face more complex risk. “We might ask with commercial real estate private credit, what does it mean for members that it is outside the banks’ risk appetite, but inside the super funds’ appetite?” QIC, which manages money for the Queensland state government as well as institutional investors, said they were seeing better quality deals under a high interest rate environment. Companies hold more equity, meaning that they have less debt to service, leading to “better balance sheets with more conservative capital structures,” head of private debt Australia Phil Miall said in an interview. QIC aims for returns of 9 percent to 10 percent in Australia. Australian private-credit investments, previously the mainstay of pension funds and institutions due to high barriers to entry, are now becoming more accessible to wealthy individuals. But they come with risks. Bloomberg
bor shortage as the country’s population ages and shrinks.
“Japan’s economy is reaching a turning point and we need a change in mindset,” said Naoki Hattori, senior economist at Mizuho Research & Technologies Ltd.
An increase in bankruptcies is inevitable, Hattori said, but that doesn’t mean all of these companies should be left to their demise. The challenge is deciding which companies can be helped, and how, he added. Each one is a unique operation that needs a tailored approach, and some experts argue that local financial institutions are in the best position to do it.
“The goal isn’t to increase bankruptcies. The goal is to reduce debt,” said Mitsuhiro Harada, director of research at Tokyo Shoko Research.
“To a large extent, this is about protecting our way of life.” So far, it doesn’t appear likely that the BOJ will be in a hurry to hike interest rates. Although the BOJ kept monetary policy in place last month, Hattori expects the BOJ to raise rates to as high as 0.5% sometime between January and March. That would be its highest since the early 1990s, and could push many companies further into debt or into bankruptcy. As rates go up, the yen strengthens and brings down inflation to give consumers some respite, CLSA’s Smith said.
“Of course, it’s stressful, but the rest of the world has to deal with it,” Smith said. “The economy, as a whole, does a lot better with higher interest rates.” Bloomberg
Dr. Jesus Lim Arranza MAKE SENSE
Villar
Kristine maintains strength; disrupts air and sea travel
By Jonathan L. Mayuga @jonlmayuga, Samuel P. Medenilla @sam_medenilla, Claudeth Mocon-Ciriaco
HUNDREDS of air and sea travellers were stranded as heavy rains induced by Tropical Storm Kristine disrupted airport and seaport operations in Southern Luzon and Visayas, authorities reported.
The National Disaster Risk Reduction and Management Council (NDRRMC), in its Situation Report
1 said eight seaports were affected, stranding a total of 143 passengers as of Tuesday morning.
Meanwhile, the Civil Aviation Authority of the Philippines (CAAP) reported that Tropical Storm Kristine forced the suspension of airport operations and flight cancellations in Bicol and Eastern Visayas.
The inclement weather also prompted class suspensions in 81 areas as of Tuesday morning, the NDRRMC said.
In its 5:00 p.m. Tropical Cyclone Bulletin, the Philippine Atmospheric Geophysical and Astronomical Services Administration (Pagasa) reported that Kristine, the 11th severe weather disturbance to affect the country this year, has slightly intensified as it passed over the Philippine Sea, east of the Bicol Region.
The center of the eye of the storm was spotted 390 km east of Daet, Camarines Norte, and is packing maximum sustained winds of 75 km/h near the center and gustiness of up to 90 km/h.
It is forecast to move generally northwestward until it makes landfall over Isabela or northern Aurora on Wednesday night or early Thursday morning.
It will then cross the mountainous terrain of Northern Luzon and emerge over the waters west of the Ilocos Region on Thursday afternoon or evening.
Kristine may exit the Philippine Area of Responsibility (PAR) region on Friday but is forecast to gradually intensify into a severe tropical storm before making landfall. The weather bureau said slight
weakening will occur while crossing Northern Luzon. Re-intensification may occur over the West Philippine Sea.
DILG disaster response, class suspension
THE uncertain path of Kristine (international name: Trami) prompted the Department of the Interior and Local Government (DILG) to mobilize all affected local governments for disaster response and call for a two-day class suspension for the entire Luzon.
“All local government units, all civil defense units have been alerted and I think we’re prepared,” DILG Secretary Juanito Victor Remulla said in a press briefing in Malacañang on Tuesday.
Remulla also issued an advisory to local governments Kristine continues to make its way out of the Philippine Areas of Responsibility (PAR).
He explained they are still monitoring the final path of TS Kristine as of Tuesday morning.
Due to the uncertain path of the TS Kristine, they opted to expand the coverage of the class suspension as a precaution.
“There’s one path that goes up north, this one path goes to Central Luzon. So, we will know later tonight on which exact path it will follow,” Remulla said.
He however, pointed out that the advisory for class suspension is only recommendatory.
“I advised the local governments to suspend classes ready for today and tomorrow. As far as I am concerned, I’m not deputized yet to suspend classes but I gave an advisory to suspend classes already,” he said.
“But there are many [LGUs] which have suspended [classes],” he added.
DILG's proposed class suspension covers students from preschool up to college and will apply to those both in public and private schools.
Under Department Order 37, series of 2022 of the Department of Education (DepEd), in-person, online classes and work for Kindergarten to Grade 12 and Alternative Learning System are automatically canceled in schools situated LGUs with Tropical Cyclone Signals 1, 2, 3, 4, and 5 by Pagasa.
Massive impact on schools
THE Department of Education said a total of 17,764 schools in 13 regions have suspended face-to-face classes due to Kristine.
DepEd said a total of 7,376,679 learners and 344,125 teaching and non-teaching staff were affected by the typhoon.
Of the 17,764 schools, 4,179 affected in are in Eastern Visayas, 3, 814 in Bicol region, 2,025 in Cagayan Valley, 1,795 in Calabarzon, 1,786 in SOCCSKSARGEN, 1,548 in Central Visayas, 1,287 in Zamboanga Peninsula, 603 in Mimaropa, 425 in Western Visayas, 176 in Central Luzon, 118 in Northern Mindanao, and eight in the Cordillera Administrative Region.
Four schools - the Lumbang East National High School in Cajidiocan, Romblon, Gimaloto Elementary School in Sorsogon City, and Licuma Elementary School and Mas-In Integrated School in Ormoc City, were reported to be flooded.
Two others—the Iriga Central School in Iriga City with two classrooms used and Lorenzo Palou Elementary School in Ormoc City— served as evacuation centers.
Heavy rainfall
PAGASA S Weather Bulletin issued at 11 a.m. Tuesday said intense to torrential rain (100 to 200 mm) that started Tuesday morning and is expected until Wednesday afternoon in Catanduanes, Camarines Norte, Camarines Sur, Albay, Sorsogon, and Northern Samar.
The same intense to torrential rain is also expected on Wednesday until Thursday in Isabela, Cagayan, Apayao, and Ilocos Norte.
Heavy to intense rain is expected in Masbate, Samar, Eastern Samar, Isabela, and Quezon is forecasted Tuesday, while the same is expected
TRO plea vs PhilHealth fund transfer still on table, says high court
By Joel R. San Juan @jrsanjuan1573
THE plea for the immediate issuance of a temporary restraining order (TRO) enjoining the transfer of the unutilized government subsidy of the Philippine Health Insurance Corporation (PhilHealth) back to the national treasury amounting to P89.9 billion may still be tackled and ruled upon by the Supreme Court (SC) even before the conduct of the oral arguments on the issue on January 14, 2025.
“There is always the possibility for the Court to act on the motion for the TRO. As long as the case isn’t finished yet they can still act on it,” Camille Ting, SC chief communications officer, said.
Three petitions have been filed before the Court seeking the issuance of TRO to immediately stop
the enforcement of DOF Circular 003-2024 which directs the transfer of unused subsidies from government-owned and controlledcorporations, specifically PhilHealth, to the national treasury in a bid to bolster the government’s unprogrammed appropriations. The petitioners include Sen. Aquilino Pimentel III et al., Bayan Muna, and 1Sambayanan Coalition.
The first tranche of PhilHealth’s unused funds of P89.9 billion amounting to P20 billion was released on May 10. This was followed by the second transfer made on August 21 amounting to P10 billion.
The third tranche amounting to P30 billion was transferred to the national treasury last October 16 while the remaining P29.9 billion is set to be remitted on November 24.
The petitioners stressed that the series of acts of Finance Secretary Ralph Recto to transfer PhilHealth funds to the national treasury constitute technical malversation or plunder or both.
DOF Circular 003-2024 was issued in line with Section 1 (d) of XLIII of the Unprogrammed Appropriations in General Appropriations Act of 2024, which is also being assailed in the three pending petitions before the Court for being an “inserted” provision.
The petitioners categorized PhilHealth funds as special funds that are collected for a specific purpose and can never be used for another purpose other than for healthcare and/or hospitalization expenses of the Filipino people.
Continued on A5
from Wednesday until Thursday in the rest of Cordillera Administrative Region, the rest of Cagayan Valley, the rest of Ilocos Region, and Central Luzon, Ilocos Region, Cordillera Administrative Region, Zambales, and Bataan.
“Under these conditions, flooding and rain-induced landslides are likely, especially in areas that are highly or very highly susceptible to these hazards as identified in hazard maps and areas with significant antecedent rainfall,” the country’s weather bureau warned.
Signal 2 up in Luzon, Visayas TROPICAL Cyclone Wind Signal 2 is hoisted over Catanduanes, the eastern portion of Camarines Norte (Basud, Daet, Talisay, Vinzons, Paracale, Mercedes), the eastern portion of Camarines Sur (Caramoan, Presentacion, Garchitorena, Tinambac, Siruma, Lagonoy, Goa, San Jose, Saglay, Tigaon), the eastern portion of Albay (Rapu-Rapu, Bacacay, City of Tabaco, Malilipot, Malinao, Tiwi) and the eastern portion of Sorsogon (Barcelona, Gubat, Prieto Diaz) in Luzon, and The northeastern portion of Northern Samar (Palapag, Mapanas, Gamay, Laoang, Catubig, Lapinig, Pambujan, San Roque) and the northern portion of Eastern Samar (Jipapad, San Policarpo, Arteche) in the Visayas.
Meanwhile, TCWS 1 is up in Ilocos Norte, Ilocos Sur, La Union, Pangasinan, Apayao, Kalinga, Abra, Mountain Province, Ifugao, Benguet, Cagayan including Babuyan Islands, Isabela, Quirino, Nueva Vizcaya, Aurora, Nueva Ecija, Tarlac, Zambales, Bataan, Pampanga, Bulacan, Metro Manila, Cavite, Laguna, Batangas, Rizal, Quezon including Pollilo Islands, Occidental Mindoro including Lubang Islands, Oriental Mindoro, Masbate including Ticao and Burias Islands, Marinduque, Romblon, the rest of Camarines Norte, the rest of Camarines Sur, the rest of Albay, and the rest of Sorsogon in Luzon, and the rest of Eastern Samar, the rest of Northern Samar, Samar, Leyte, Biliran, and Southern Leyte in the Visayas.
In Mindanao, TCWS 1 is up in Dinagat Islands and Surigao del Norte including Siargao - Bucas Grande Group.
TBy Lenie Lectura @llectura
HE International Energy Agency (IEA) noted a strong uptake in renewables capacity in Southeast Asia, possibly ending 2030 with 225 gigawatt hours (GW). However, this growth is still not enough compared to global trends and falls short of meeting the region’s growing electricity demand.
“Our analysis suggests that Southeast Asia is currently set to achieve a doubling in its renewables capacity by 2030,” from about 110GW in 2022, said IEA in a report released on October 22, 2024.
“This represents an acceleration compared with historical trends, but not yet the step-change in deployment that would be required to align with national net zero goals and with the global 1.5C target,” its report stated.
Almost one third of the planned additions are in Vietnam, followed by 27 percent in Indonesia and 18 percent in the Philippines. The additional renewables capacity will mainly come from solar power projects, possibly surpassing hydropower as the largest renewable technology in the region, driven by low costs and increasingly robust policy frameworks.
GEAP, RE standards cited FOR the Philippines, IEA cited the Green Energy Auction Program and Renewable Portfolio Standards as the main policy tools that will support the Philippines’s goals to achieve a 35-percent share of renewable energy in the generation mix by 2030.
Moreover, higher foreign ownership of renewable energy assets was allowed in November 2022,
which should encourage international investment. Further, IEA said increasing investments in grid infrastructure and streamlining permitting would allow the Philippines to accelerate renewables deployment.
The IEA also said that Indonesia and the Philippines hold substantial potential for geothermal development using conventional methods. However, high upfront investment costs remain a challenge for project development. Energy Development Corp. (EDC) Vice President-head of Business Development Group Marvin Bailon said last month that the company would normally set aside as much as P2 billion for drilling activities, excluding various studies needed to be undertaken before actual drilling.
EDC has over 1,464.5MW total installed capacity that accounts for almost 20 percent of the country's total installed renewable energy capacity. Its 1,169.85 megawatt geothermal portfolio comprises 80 percent of the country's total installed geothermal capacity, making the Philippines the third largest geothermal producer in the world.
The Department of Energy (DOE) said last month that it may help geothermal firms reduce their financial risk by putting up a socalled de-risking facility for geothermal power projects.
Mylene Capongcol, director of the Renewable Energy Management Bureau of the Department of Energy (DOE), said the agency is scouting for partners to help set up the fund. These may include the Asian Development Bank, Land Bank of the Philippines, Development Bank of the Philippines, and Philippine Guarantee Corp.
Comelec: Socmed nonregistrants to face DQ
By Justine Xyrah Garcia
POLITICAL aspirants who refuse to register their social media accounts before the campaign period could be disqualified, the Commission on Elections warned on Tuesday. In an interview, Comelec Chairman George Garcia said that the poll body would not hesitate to file an election offense case on those who would not register their accounts on or before the December 31 deadline.
“Let’s not make this difficult, and don’t
test Comelec. It’s better to follow the rules because the purpose is to ensure fairness for all,” he said in Filipino. Aside from candidates’ official social media accounts and pages, Comelec’s Resolution No. 11064 also mandates all websites, podcasts, blogs, vlogs, and other online-based platforms of candidates and political parties to be registered with the commission’s Education and Information Department (EID).
Continued on A5
Editor: Jennifer A. Ng
B1 Wednesday, October 23, 2024
Alternergy unit seeks nod for interconnection project
By Lenie Lectura @llectura
Alternergy tanay Wind Corp. (AtWC), a subsidiary of renewable energy (re) firm Alternergy Holdings Corp., plans to undertake an interconnection project worth P2.2 billion to connect its 112-megawatt (MW) tanay wind power project to the luzon grid.
ATWC said it needs the prior approval of the Energy Regulatory Commission (ERC) before it can proceed with the construction of the interconnection project, which will be undertaken by Power Construction Corp. of China Ltd. The wind power project is tar-
geted to be operational by end of next year. “Hence, there is an urgent need for the immediate issuance of a provisional authority to start the construction of the interconnection project,” ATWC said in a filing with the ERC.
The construction of the proposed
interconnection project is a prerequisite for the testing and commissioning, and ultimately, the commercial operations of the Tanay wind power project.
“A provisional authority is, thus, urgently needed to enable the Tanay wind power project to achieve target commercial operations date and avoid adverse consequences to AWTC.”
The commission has set on November 13 a hearing to determine ATWC’s compliance with the jurisdictional requirements.
The Tanay Wind Power Project in Tanay, Rizal broke ground on June 4, 2024.
This project will directly contribute to the national goal of attaining a 35 percent renewable energy share in the power generation mix by 20230 and 50 percent by 2040.
Last September, Alternergy reported a record-high income of P130
million for fiscal year (FY) 2024. This was an increase of 239 percent from the P38 million recorded in FY 2023. The robust performance was driven mainly by the 60 percent surge in revenues to P275 million, particularly from its operating assets.
The operations of the Palau Solar PV + battery energy storage system (BESS) project, which started commercial operations in January 2024, contributed significantly. It posted P87.3 million in revenues in the first six months of its operations.
The company also said the 12.5MWp Kirahon solar power plant in Misamis Oriental continued its steady performance over the last nine years, recording a 10-percent increase from 2023 in energy generation due to higher irradiation during the summer months. The Kirahon solar power plant injected P188 million in revenues for 2024 from P173 million in 2023.
Pryce net profit surges in September
LISTEd Pryce Corp. saw its net profit grow by 40 percent to P2.21 billion at end-September from P1.58 billon in the same period last year as it recorded higher revenues.
It told the stock exchange Tuesday that consolidated revenues rose by 7 percent to P15 billion in January to September compared to last year’s P14 billion.
The company’s liquefied petroleum gas (LPG) business contributed
NNIC buys baggage handling system
THE New NAIA Infra Corp. (NNIC) on Tuesday said it has procured a new baggage handling system to replace the 20-year old system, which has disrupted the processing of passengers’ checked-in luggage at the Ninoy Aquino International Airport (NAIA) Terminal 3.
The operator of NAIA said it is working closely with Cebu Pacific to ensure that contingency measures are effectively addressing a malfunction in NAIA Terminal 3’s baggage handling system.
To minimize the impact on travelers, both NNIC and Cebu Pacific have increased manpower to expedite baggage processing. Additionally, alternative systems and protocols have been activated to resolve the issue as swiftly as possible.
“We are working closely with the New NAIA Infrastructure Corp. which is also exerting every effort to resolve the technical challenges as quickly as possible and restore normal operations,” Cebu Pacific said.
The airline said it has established a dedicated team to manage the situation. Passengers were given the choice of having their bags delivered to their destination or picking them up at the airport for domestic flights. For international flights, a similar option was available along with delivery services for passengers with onward destinations. “Our teams are doing everything in their power to expedite baggage deliveries and ensure all affected passengers are assisted promptly.” Lenie Lectura
SM uses proceeds from loyalty program for anti-hunger drive
By VG Cabuag @villygc
T93.77 percent of the total revenues while industrial gases accounted for 4.43 percent. The rest came from memorial park operations and pharmaceutical products.
The company’s income from operations likewise rose by 23.32 percent year-on-year to P2.64 billion despite the 14.4-percent increase in its operating expenses.
Pryce said it intensified the marketing of its industrial gas products, resulting a 27.4-percent year-on-year
increase in total sales volume.
Its performance helped hasten the commencement of its operation of its air separation facility in Mindanao after a one and a half year of construction.
“With these developments, Pryce Corp. foresees the potential of its industrial gas business to contribute substantial income in the succeeding periods.”
Last July, the company reported that its net income in the first half
went up by 61 percent to P1.32 billion from last year’s P819.68 million. Pryce said this was achieved despite its flattish consolidated revenues of P9.54 billion in January to June.
Pryce said its gross profit went up by 29 percent to P2.98 billion in the first half from last year’s P2.31 billion. It also reported that its income from operations went up by 49 percent to P1.66 billion from the previous year’s P1.12 billion. Lenie Lectura
Maersk raises guidance again as Red Sea attacks boost rates
A.P. Moller-Maersk A/S, a bellwether for global trade, increased its full-year guidance for a fourth time in less than six months, citing stronger demand and higher freight rates caused by supply chain disruptions from attacks in the Red Sea.
Maersk now sees underlying earnings before interest, tax, depreciation and amortization of $11 billion to $11.5 billion this year, topping both its prior forecast range and the average $10.1 billion estimate of analysts surveyed by Bloomberg.
Maersk had already raised its 2024 profit forecast in May, June and August, as the Red Sea conflict was having a larger than previously expected impact on the world’s supply lines. The Houthi attacks have since late last year forced container vessels to sail south of Africa, absorbing some of the overcapacity in the
container industry, which in turn has helped boost container rates.
Maersk said earlier this month it will start its vessel-sharing partnership with Hapag-Lloyd AG in 2025 by sailing south of Africa, indicating the container lines expect the Red Sea to remain unsafe well into next year.
On Monday, the danish shipping line also said it expects global container demand growth to be 6 percent this year, up from a range of 4 percent-6 percent seen previously. Maersk shares opened 2.4 percent higher in Copenhagen on Tuesday, before erasing the gains to drop 0.6 percent at 9:25 a.m. Still, medium-term prospects for the shipping company remain somewhat gloomy. Maersk faces potential overcapacity in the container shipping market in 2025-26 and possibly longer, while there is a latent risk that
the situation for container-shipping companies will worsen when the conflict in the Red Sea is resolved, Morten Holm Enggaard, an analyst at Jyske Bank A/S, said in a note.
“For the long-term investor, Maersk is probably an attractive purchase at this time, but in the short term, the downside is greater than the upside in our view,” which is driving Jyske’s hold recommendation, he said.
Maersk, which controls about one-sixth of the world’s container trade, has in recent years sought to grow in land-based transport and freight-forwarding businesses— where profit margins historically have been higher than at sea. Still, last quarter it dropped a bid for deutsche Bahn AG’s logistics unit dB Schenker, which danish peer dSV A/S ended up acquiring for €14.3 billion ($15.5 billion). Bloomberg News
HE loyalty program of the SM retail group has raised some P30 million in d ecember 2023 to January 2024 which it used to help address involuntary hunger and the lack of access to quality education.
The said program was undertaken in collaboration with Globe Telecom Inc.’s Hapag Movement and SM Foundation.
This is the second year that SM Advantage Card (SMAC) partnered with the Hapag Movement, which aims to deliver supplemental feeding and sustainable livelihood training for 100,000 Filipino families.
Last year’s campaign raised P5.5 million which benefited 10,000 families. SMAC supported the campaign wherein for every sale of a SMAC kit, P50 was donated to the campaign.
Also, for every eligible purchase from participating SM Retail affiliates, including SM Store, SM Fashion, SM Beauty, SM Appliance Center, Kultura, Our Home, Surplus, Sport Central, Silk Issues, Levi’s, Forever 21, The Body Shop, Echo and Crate and Barrel, bonus points were donated to the campaign.
“We owe our success to the
participation of our loyal SMAC membership. Every purchase they made, every point they donated, goes a long way to the underprivileged families. Together, we can build a future where no one goes hungry,” Kevin Hartigan-Go, COO of SMAC said.
This year, SMAC and Globe’s collaboration raised nearly 30 million points that will be donated to the Hapag Movement and to SM Foundation. The recent June 2024 Social Weather Station survey revealed that hunger in the country is at 17.6 percent from 14.2 percent in March.
“Hapag’s vision of fighting involuntary hunger resonates with SMAC, our retail partners, and our SMAC member base,” Go said. Partner organizations of the Hapag Movement include the UN World Food Programme, Ayala Foundation and World Vision Philippines.
Half of the raised funds, or almost P15 million, were donated to SM Foundation, the corporate social responsibility arm of the SM Group. The donation will allow 35 underprivileged students to pursue and finish their education. On the 31st year of the SM Foundation, they have already supported 4,500 graduates.
Photo from www.smretailcareers.com
Maersk controls about one-sixth of the world’s container trade. PhotograPher: Kristian helgesen/BloomBerg
Lacson insists he upholds govt auditors’ authority
By Butch Fernandez @butchfBM
AFFIRMING the authority of the Commission on Audit (COA) to examine all state agencies and transactions, former Senator Panfilo M. Lacson said last Tuesday he had sought reforms even in the way government auditors give leeway to transactions involving legislators, particularly the practice of simply having officials certify that certain sums were spent for their intended use.
“Long and short: I NEVER espoused bypassing the authority of the COA,” the senator said recalling that “in fact, I CORRECTED the situation involving ‘liquidation by certification’ with the COA and the House of Representatives.”
In doing so, Lacson thus debunked repeated lies from some sectors claiming that a Resolution he authored in 2011 “legalized corruption” by letting lawmakers account for expenses via certification. Lacson recalled Concurrent Resolution 10, which he filed and was adopted in 2011. He said CR 10 actually rectified the practice of liquidation by certification, a practice adopted as a practice in Congress since it reopened in 1987. Moreover, the Senator stressed that while CR 10 contains a threshold amount, it is clear that even this is still subject to audit by the COA.
“When I was Chairman of the Senate Committee on Accounts, along with [the] COA and the House of Representatives, we corrected that practice by putting a threshold amount of P500,000 to be liquidated by certification—but still sub -
ject to COA audit, since the Constitution provides that “NO public funds shall be exempted from COA audit.”
CR 10 cites Sec. 20, Art. VI of the Constitution that the books of accounts in Congress be audited by the COA. Lacson added that “the amount was to be used to expedite and facilitate cash assistance for medical and other emergency needs of constituents who used to flock daily to the offices of senators and congressmen.”
Moreover, he pointed out that CR 10 does not excuse anyone from liquidating through official receipts and other verifiable documents, much less from being audited by the COA.
“NOBODY in government is exempted from COA audit,” Lacson stressed.
The Senator recalled that throughout his years in public service, he has been consistent in complying with all the existing COA regulations, much more with the required submission of liquidation instruments when I was in the Senate.”
“Thus, when the COA first conducted a special audit of Congress, I was the first one who submitted the receipts and related documents,” he said.
Lacson is aiming for one more term as an independent candidate with his credo “Ang tama ay ipaglaban, ang mali ay labanan (What is right must be kept right, what is wrong must be set right).” He reiterated his appeal to netizens to verify what they see online, “so they would not be easily swayed by false information concocted by his detractors and fake news peddlers.”
DPWH, DepEd led govt agencies with 99% budget use by end-Sept.
By Reine Juvierre Alberto @reine_alberto
AS the government released higher cash allocations, state agencies also improved their spending performance as of the third quarter of 2024.
Latest data from the Department of Budget and Management (DBM) showed the government released P3.516 trillion in notices of cash allocation (NCAs) as of the end of September 2024.
The amount is 10.67-percent higher than the P3.177 trillion in NCAs disbursed during the same period a year ago.
NCA refers to the cash authority issued by the DBM to central, regional and provincial offices and operating units to cover the cash
THE Bureau of Internal Revenue (BIR) clarified that all required documents must be submitted for value-added tax (VAT) refund claims, regardless of the taxpayer’s risk level.
requirements of the government agencies. With the ramped-up releases of NCAs, government agencies, state-run corporations and local government units (LGUs) have spent a total of P3.464 trillion, utilizing 99 percent of their budget as of endSeptember 2024.
This is slightly better than the 97-percent utilization rate posted in the nine-month period in 2023.
A higher NCA utilization rate shows the capacity of agencies to disburse their allocated funds on
time and implement their programs and projects.
Broken down, 75.14 percent of NCA releases were allotted to government agencies at P2.642 trillion from January to September 2024. This is higher by 13.44 percent than the P2.329 trillion released in the same period a year ago.
Agencies recorded a 98 percent utilization rate, slightly better than last year’s 97 percent, spending P2.592 trillion during the ninemonth period.
Among the agencies, the Department of Public Works and Highways (DPWH) received the highest NCAs amounting to P726.574 billion, followed by the Department of Education (DepEd) with P485.087 billion and the Department of National Defense (DND) with P250.183 billion. The status of the NCAs showed the DPWH maintained a 100-percent utilization rate while the DepEd and the DND both improved their spending at 98-percent rate each.
NCA utilization rates of most agencies reached 90 percent while some already posted a 100-percent rate. Notably, the DBM has the lowest utilization rate at 73 percent. Meanwhile, 3.19 percent of the NCAs went to governmentowned and -controlled corporations (GOOCs) as budgetary support. This went down by 23.59 percent yearon-year to P112.053 billion from P146.652 billion.
State-run corporations utilized 99 percent or P145.773 billion of their NCAs. Further, allotment to local government units (LGUs) accounted for 21.66 percent of the total NCAs released.
This increased by 8.70 percent year-on-year to P761.725 billion in the January-September 2024 from P700.777 billion. Of this, 100 percent have been utilized.
Last year, the government released a total of P4.453 trillion, of which P4.345 trillion or 98 percent was utilized.
Goal setting–How important? VAT refund claims must be backed by documents–BIR
WE are now towards the end of the year 2024. Where are we now in the goals we set or have we set any for that matter?
Many people do not set goals because they know they cannot accomplish it anyway, don’t have time to work on them, cannot properly define what they want to achieve, feel unhappy when they are far from accomplishing their goals, etc. According to the famous author Zig Ziglar “97 percent of people in our society do not have a clearly defined, writtendown set of goals for their lives.” There are so many articles and books written on goal setting. Here’s a summary of my thoughts on this topic.
There is no arguing about the importance of setting goals. I myself have set goals that I haven’t accomplished yet. But there is one goal that is clear to me and, that is: to walk and grow more in my knowledge and relationship with God. I am still a work in progress, which we all are, until we end this pilgrimage on earth.
Having this one goal fixed in our minds, our other goals should be aligned with it. The problem is we do not even try to write down these other goals; they are just in our mind.
Oftentimes, some of the goals we set are so grandiose that achieving any one of them are impossible. For instance, after obtaining my CPA and MBA certificates, I wanted to pursue a PhD in Management, review and pass the Certified Internal Auditor and the Certified Fraud Auditor Exams. I also sought personal goals; such as physical fitness, more time with family and travel to places in my bucket list. The list can be endless so I just need to prioritize.
A famous acronym in goal setting is “SMART,” which stands for “Specific,” “Measurable,” “Actionable,” “Relatable” and “Time-bound.” Some even go as far to make “SMARTER” goals by adding “Evaluate” and “Rewards.”
We need to be specific with our goals and break them down into small steps so that along the way we will have a feeling of accomplishment just by accomplishing the small steps. According to my favorite author and speaker Jim Rohn, you should be specific in breaking down goals into different tasks; into hours, days and years to make them achievable. According to an article in Forbes last July 9, these goals should be clearly communicated to your work team and to your family and other people who are your work and emotional support. These goals should be measurable –what do we want to achieve by the end of the month or year or with a new project. What data and methods are we going to use to measure accomplishments. Are these achievable or actionable to maintain enthusiasm? Does your team
possess the training and skills to achieve your goal of accepting another project or can you squeeze in time during the day to do your workout and meditation and play with the family?
How relevant are your goals to where you are now? You should also look into the mission, vision and values of your company and the personal goals you set for yourself. Will this benefit in the long run your organization and your family? For instance, if you set too high and lofty goals, do you still have time to spend with the family and achieve your personal goals of professional development, wellness, fitness and spiritual growth? For instance, I wanted to pursue my doctorate degree but I asked myself what for? Will this be relevant to the services we offer in our Firm and will this affect my personal goals too?
Being time-bound is essential to know if you have accomplish even just a small part of your goal. This is where the small steps toward your goal come in. Achieving these small steps will further encourage you and will boost your confidence.
Adding “Evaluate” and “Rewards” are also essential. You can change goals if you evaluate that this is not where you want to be or further evaluate if at this stage it is already enough. Rewarding yourself with the small steps you accomplished even if you have not achieved the ultimate goal will bring a sense of capability and enjoyment to the whole pursuit of goal setting. Setting goals and writing it down is important not only for a successful career but also a happy personal life. Nonetheless, achieving your goals is not the be-all and the end-all. It is just a “secondary importance” as Rohn had said. The most important is how you become as a person as you try to achieve them – more confident, more disciplined, more resilient - growing in your character and in your emotional and spiritual development.
In the end, that is all that matters, right?
Wilma Miranda is the 2024 chairman of the Ethics Committee of
Under Revenue Memorandum Order (RMO) 42-2024 issued by Internal Revenue Commissioner Romeo D. Lumagui Jr. on October 2, clarifying the risk-based verification and processing of VAT refund claims under Section 112(A) of the National Internal Revenue Code, as amended by the Ease of Paying Taxes (EOPT) law.
The BIR said that all documentary requirements stated in the “Checklist of Mandatory Requirements” for VAT refunds must be submitted by the taxpayer regardless of the identified risk level.
Once the application is received by the appropriate BIR processing office, the risk level of the VAT refund claim can then be determined as it is assumed that the amount of the claim, the period covered and the frequency of filing were already resolved.
The 90-day processing period for VAT refunds will start only after the application is accepted with complete documentary requirements.
With the enactment of the EOPT law, the sequence for low-risk, medium-risk or high-risk VAT refund claims processing will be changed.
The process will include checklisting, cursory checking of complete supporting documents for sales and purchases of goods and services, determination of the claim’s risk level and processing and verification.
For low-risk claims, these will be automatically recommended for refund, as the verification for sales of goods and services as well as purchases and input tax will no longer be performed. Meanwhile, medium and highrisk claims will undergo further verification and processing, with the exception of sales and purchase transactions not included in the required percentage of documents to be verified for mediumrisk claims.
Applications with missing or incomplete information in the schedules of sales and purchases will be automatically classified as high-risk and shall require 100-percent verification.
The EOPT law introduced riskbased VAT refund processing to
streamline verification processes. However, registered export enterprises have reported difficulties in obtaining their VAT refunds.
Earlier, Finance Secretary Ralph G. Recto said the problem in VAT refunds can be dealt with directly through the passage of the “Corporate Recovery and Tax Incentives for Enterprises Maximize Opportunities for Reinvigorating the Economy,” or the “Create More,” bill. The bill aims to exempt local exporters from VAT as well as improve the timeliness and efficiency of the VAT refund process.
“They used to be zero-rated. There’s supposed to be a refund system, right? That’s not working so might as well make them exempted so there will be no refund anymore,” Recto said.
Reine Juvierre Alberto
America's most famous inflation gauge is easing
PRICE pressures have eased substantially over the past two years, but a disconnect remains between what US inflation data show and what millions of Americans experience with their finances.
That’s in part because price levels are still higher than they were before the pandemic. Another explanation: the government’s key inflation measure excludes a number of major everyday costs that have surged in recent years.
Property taxes, tips and interest charges from credit cards to auto loans aren’t factored into the Bureau of Labor Statistics’ consumer price index. The CPI also leaves out a key aspect of home insurance, as well as brokerage fees and under-thetable payments to babysitters and dog walkers—costs that can add up.
“The CPI is capturing the goods and services that you purchased for consumption, but there are things that affect your cost of living that are outside of that,” said Steve Reed, a BLS economist who works on the index. “And so it can’t realistically be priced.”
The CPI rose 2.4 percent in the year through September, the smallest advance since early 2021. Inflation has subsided since the Federal Reserve started hiking interest rates in 2022, which sent rates for mortgages, credit cards, auto loans and student debt soaring. While interest payments make up a big chunk of many Americans’ expenses, the CPI measures the price changes in the items bought, not the debt incurred to finance those purchases.
For example, roughly $628 billion in credit card debt is rolled over or unpaid every month when the typical interest rate charged is around 22
percent. That means that while the underlying purchased item or service was included in the official measure, millions of dollars in credit card interest payments aren’t being counted.
“It’s one thing that’s definitely impacting the way people spend money,” said Pete Earle, economist at the American Institute for Economic Research and creator of the everyday price index that aims to track daily purchases that can’t be easily avoided. “It’s not really inflation, but it’s definitely something that should be taken into account.”
It gets a bit tricky with housing, which the BLS views as an investment decision rather than an everyday expense. That means that home prices, as well as associated costs like mortgage payments and property taxes—which add up to thousands of dollars a year and fluctuate with prices—are left out.
The same principle applies for how the CPI measures home insurance— it takes into account coverage for personal property but not the dwelling,
or the actual structure itself. The latter, which reflects the home’s price, is the more significant component that affects a homeowner’s annual premium.
The overall gauge, which is known as the CPI for all urban consumers, draws from a sample that covers over 90 percent of the US population and comprises areas with at least 10,000 people. Since the measure is based on the average consumer, someone whose medical care comprises a larger-than-typical share of their expenses may experience a different rate of inflation than the norm, or a household that uses solar energy rather than fuel.
“The CPI does not necessarily measure your own experience with price change,” the BLS says on its website. “A national average reflects millions of individual price experiences; it seldom mirrors a particular consumer’s experience.”
The pricing challenges aren’t unique to the CPI. For example, the personal consumption expenditures
price index, produced by the Bureau of Economic Analysis, also has some quirks when it comes to measuring certain expenses like health care. While the Fed prefers the PCE gauge, White House economists say that the CPI tends to more closely track consumers’ actual out-of-pocket spending.
Behavior shifts IN today’s economy, Americans deal with a myriad of firms trying to extract a payment. Some of these charges are brought about by shifts in consumer behavior and take time to be incorporated into the CPI—such as fees for grocery bags, airline baggage and meal delivery providers, as well as service charges some restaurants tack onto bills. Other items are outside the scope of the CPI market basket, and consequently can make the consumer feel that their real cost-of-living isn’t accurately being measured. Here are a few other expenses that don’t make it into the CPI: Optional tips. Tips are excluded except in the rare cases when the restaurant makes them mandatory such as for large parties, which are built into the bill. But any sort of optional tipping isn’t captured—even as tipping has become more widespread, and essentially coerced— with highlighted suggested amounts that have escalated and been built into payment processing software at retailers. Gambling activity. The cost of a
Finex Free enterprise
Wilma inventor-Miranda
GCash Turns 20: Celebrate Natin ang Lahat with Up to P30 Million in Prizes up for Grabs
FOR 20 years, GCash, the country’s leading super app, has been at the heart of Filipino lives, revolutionizing the way we pay, shop, save, and more. To mark this incredible milestone, GCash is pulling out all the stops with a grand raffle, giving away P30 Million worth of prizes to more than 300,000 lucky winners!
From October 10 to 31, 2024, GCash users have a chance to win exciting rewards—from the latest mobile phones and new motorcycles to grocery packages. It’s GCash’s way of saying thank you for being a part of its 20-year
journey. Celebrate Natin Ang Lahat as we give back with prizes for everyone! How to join?
IN true GCash fashion, they are celebrating their 20 years with a Grand Giveaway, just Shake It, Win It! Participating is easy! Here’s how:
1. Simply log in to your GCash account daily, and tap the 20 years icon, located at the top of the screen on the app’s homepage
2. Shake your phone to get a raffle entry
3. Tap and shake daily for more entries
The more you shake, the more chances you have to win!
Raffle is open to all GCash users nationwide! Winners will be announced every three to four days. New and exciting prizes are up for grabs each week! So, keep shaking and make GCash part of your everyday routine!
What’s up for grabs?
HERE’S what can you win when you
Shake It, Win It:
• P 100 GCash Credits for 73,000 winners
• P 50 GCash Credits for 90,000 winners
• P 20 GCash Credits for 150,000 winners
The fun and prizes do not stop there! GCash has more exciting major prizes that you can win:
• PHP 50,000 Grocery Packages for 100 winners, perfect to kick-start your own sari-sari store business
• Yamaha MTX YTX125 Motorcycles for 100 winners, ideal for delivery or service transportation livelihood
• Oppo A3 smartphones for 200 winners, because milestone celebrations call for new gadgets
#CelebrateNatinAngLahat with #GCash20 this October!
Download the GCash app today, available on the Google Play Store or the App Store. Stay tuned for more #GCash20 announcements by following @gcashofficial on Instagram and Facebook.
Media Engage in Interactive Online Purchase at
Aresponse programs to help prevent hunger during calamities. The Jollibee Group Foundation is the social development arm of the Jollibee Group that was established in 2004 to help uplift communities through the Jollibee Group’s food expertise. In the photo, Grace Tan Caktiong (third from left) is awarded by Fr. Richard Ang, O.P.
Atty. Dwight Ramos, President of the UST Alumni Association, Inc.; and Asst. Prof. Joreen T.
PhD, Director of the Office of Alumni Relations-UST.
Cayetano calls for review of 4Ps implementation to combat child stunting
SENATOR Alan Peter Cayetano has renewed his call for the Department of Social Welfare and Development (DSWD) to reassess the implementation of the Pantawid Pamilyang Pilipino Program (4Ps), citing concerns over the persistent issue of child stunting in the Philippines.
Following the October 14, 2024 Senate hearing on DSWD’s proposed 2025 budget, Cayetano pointed out that despite the program’s goals, one-third of Filipino children still suffer from stunted growth due to malnutrition.
“If the 4Ps is meant so that may makain ang mga bata para hindi sila maging malnourished, and if the 4Ps takes care of the poorest of the poor, bakit one-third of Filipinos ang stunted pa rin?” he said.
The government is seeking P114 billion for the 4Ps next year, an increase of P8 billion from this year’s budget, but Cayetano questioned if the program is effectively addressing hunger and malnutrition.
“There’s a disconnect between the policy, the funding, and the actual results. Are we falling short with 4Ps?” he said.
Citing the Philippine Institute for Development Studies (PIDS), Cayetano pointed out that inadequate early childcare and prenatal interventions are major factors contributing to high stunting rates in the country.
“A third of Filipino children are short for their age. Stunting after two years can be permanent, irreversible, and even fatal,” he warned.
The World Health Organization (WHO) defines stunting as impaired growth due to poor nutrition
IN today’s fast-paced and ever-evolving business landscape, delivering outstanding customer experiences is more important than ever. With this in mind, PMCM Events Management is proud to present the AsiaCX Philippines 2024, a prestigious event designed to recognize and honor companies that have demonstrated an exceptional commitment to enhancing customer satisfaction through innovation and service excellence. The event will take place on Friday, November 8, 2024, from 6 pm to 9 pm at Crowne Plaza Galleria, Manila.
“AsiaCX Philippines is more than just an award ceremony; it’s a platform that celebrates companies that go above and beyond in creating exceptional customer experiences. It highlights how forward-thinking strategies and leadership can elevate customer satisfaction, even in highly competitive markets,” said Mys Sandico, Event Manager from PMCM Events Management.
The AsiaCX Philippines Awards will spotlight top performers across key categories, including Best Overall Customer Experience, Most Innovative Customer Experience Strategy, and Customer Service Team of the Year. With a rigorous evaluation process led by industry experts, the awards aim to highlight only the most deserving companies that have set the benchmark in customer-centric practices.
Recognizing the critical role of technology in transforming customer interactions, the event will also feature awards for Excellence in Technology Implementation, Customer Success Story of the Year, and Best Use of Technology in Customer Experience. These categories showcase companies that have successfully leveraged digital tools—such as automation, AI, and mobile applications— to revolutionize customer service, ensuring seamless, responsive, and personalized experiences.
Beyond the awards, the event will provide valuable insights through panel discussions, interactive workshops, and presentations that
and repeated infections, which can lead to long-term consequences such as poor cognition, low educational performance, and reduced productivity in adulthood.
“According to UNICEF, 95 children in the Philippines die every day from malnutrition, and 27 out of every 1,000 Filipino children don’t make it past their fifth birthday,” Cayetano said.
The 4Ps program currently supports 4.2 million families, providing at least P750 a month to beneficiaries for the improvement of children and pregnant mothers’ health through check-ups and proper nutrition.
Cayetano said DSWD should not only monitor compliance but also whether or not the program is truly improving children’s nutrition.
“The first priority should be making sure these kids aren’t going to school hungry,” he said.
He also questioned whether parents have enough knowledge to make nutritious choices with the grants they receive.
“Many parents might not know the best way to spend the money on proper nutrition,” Cayetano noted.
Cayetano referenced a statement from Singapore President Tharman Shanmu-garatnam, who stressed the importance of early childhood development, especially in the first two years of life.
“The highest return on investment is in maternal health and early childhood,” he said.
“It’s not just about increasing funds but ensuring that those funds are truly addressing child stunting and malnutrition,” he added.
explore the latest trends and best practices in customer experience. Attendees will have the opportunity to connect with industry leaders, exchange ideas, and gain actionable strategies that
TOTAL AWARDEE Jollibee Group Foundation (JGF) co-founder and chair, Grace Tan Caktiong, was recently honored as 2024’s The Outstanding Thomasian Alumni (TOTAL) Awardee for Service to Humanity, a recognition given by the University of Santo Tomas to exemplars from the Thomasian community. Grace Tan Caktiong’s inspiring leadership over the past 20 years directly facilitated the foundation’s programs that have improved farmers’ livelihood, helping children continue their education through sustained school feeding and scholarships and enabling wide-reaching disaster
UST Rector;
Rocamora,
MAKATI MEDICAL CENTER HOLDS AWARDS AND RECOGNITION CEREMONY FOR PHYSICIANS
MAKATI Medical Center (MakatiMed) recently celebrated 175 esteemed physicians for demonstrating society-recognized competence and professionalism in their practice at the 3rd MMC Physicians Awards and Recognition Ceremony. Interim co-president, CEO and medical director Saturnino P. Javier, MD, expressed his gratitude towards the physicians for their outstanding contributions and achievements that have brought more prestige to the institution. Javier also encouraged the awardees to become figures who can inspire MakatiMed’s community of physicians.
Out of the 175, eightphysicians with significant roles in national and regional medical societies were recognized in the event. These are Raneil Joseph S. Bautista, MD, (current) president of the Philippine Radiologic Society of Nuclear; Janice C. Caoili, MD, (current) president, Philippine Society of Microbiology and Infectious Diseases; Efren J. Domingo, MD, (current) president, Society of Gynecologic Robotic Surgery of the Philippines; Rico D. Estrella, MD, (current) president, Philippine Society of Ultrasound in Surgery; Benjamin G. Herbosa, MD, (current) president, The Oriental Society of Aesthetic Plastic Surgery; Jennifer Marie B. Jose, MD, (current) president, Aesthetic Gynecologic Society of the Philippines Inc., (current) president, Board of Gynecologic Robotic Surgery; Angelo B. Lozada, MD, (current) president, Hepatology Society of the Philippines; and Eileen M. Manalo, MD, (current) president, Philippine Society for Fertility Preservation. They were all included in the President’s Honor Roll for their exceptional service. Also appreciated during the event were physicians who are current clinical leaders, retirees and physicians who have passed on. Noel L. Rosas, MD, director of the professional services division, concluded the activity by reminding MakatiMed physicians to continue showing excellence, dedication and compassion in their work.
Image
The pros and cons of work friends
IN today’s workplaces, building friendships at work has become a common aspect of professional life. These relationships can have a profound impact on job satisfaction, productivity and overall well-being. However, maintaining friendships in a professional environment also comes with its own set of challenges which, if not addressed, can lead to issues and problems. How do you navigate the complexities of these relationships while setting clear boundaries and maintaining professionalism?
There are numerous benefits to having friends at work, one of which is increased job satisfaction. Having someone to share experiences with and celebrate successes, having someone to lean on during challenging workloads can make the work more enjoyable. Friends at work provide emotional support during tough times and contribute to a positive work culture, which can help team members be more motivated and engaged.
Strong workplace friendships can also lead to better collaboration and teamwork. When people are comfortable with one another, they are more likely to communicate openly, share ideas, and solve problems efficiently. This enhanced communication can lead to greater innovation and productivity, as team members feel more at ease with asking for help or offering support. When someone makes a mistake, friends can help find value in it fostering a growth mindset where everyone learns from each other’s mistakes.
Bank and ArteFino awarded fashion designer Jor-el Espina with the Stilo Modern Filipino Award during a special awarding ceremony and cocktail reception on August 23, 2024, at The Fifth at Rockwell in Power Plant Mall. Pictured with Espina and the ArteFino organizers are Security Bank’s Tanya Ansaldo-Deakin, FVP and corporate communications head (fourth from right), and Maricar Filart, VP and product management and communications head (third from right).
SECURITY BANK HONORS BEST DESIGNERS AND PRODUCTS AT THE STILO ARTEFINO AWARDS FILIPINO heritage, craft and design were at the heart of the recent ArteFino Fair, themed “Ka-PAMANA” and sponsored by Security Bank (www.securitybank.com). The winners of the Stilo ArteFino Awards were announced during a cocktail reception at The Fifth at Rockwell in Power Plant Mall. Security Bank co-presented the Modern Filipino Award, which was won by designer Jor-el Espina. The award recognized the overall best brand with products design for the modern consumer, a strong online presence, and a commitment to Filipino design and community engagement. Overall brand presentation including concept, booth design, visual merchandising, and packaging were also part of the judging criteria.
Other Stilo ArteFino Award winners included: The Fine Life Market (Best Booth); Steph Verano (Best Product for Women’s Fashion); Emerie Studios (Best Product for Men’s Fashion); Project Nova Tote Bags (Best Product for Accessories); The Olive Tree (Best Product for Home); and Likha + Mundo (Pamana by Rockwell).
Security Bank’s debit and credit cardholders enjoyed free entry to the fair and were entitled to zero-percent installment for three to 12 months for a minimum spend of P10,000 using their Security Bank credit card. Further, shoppers were invited to Security Bank Gold Circle, an exclusive membership program for VIP banking.
In October, Security Bank will be joining forces with ArteFino again for the third Maker’s Lab: Totally Upcycled Design Challenge—a call to the design community to submit functional products using denim, wood, fabric, plaster, or paper. Entries will be displayed in a special setting, with an awarding ceremony also in October.
Security Bank’s legacy is one committed to enriching lives, empowering businesses, and building communities sustainably. Its partnership with movements like ArteFino highlights its support for local craftsmanship and Filipino artisans, fostering a vibrant cultural landscape where both business and creativity can thrive.
Work friends can help reduce stress by providing an outlet for venting or providing a sense of camaraderie that can lighten the mental load of the work. Sharing both professional and personal concerns with colleagues who understand the workplace environment can provide a unique support system that promotes mental well-being and contributes to a healthier work-life balance.
In the event of workplace challenges, like tight deadlines or high-pressure situations, friends can offer the encouragement and motivation needed to get through. They can provide practical assistance, be it helping to complete tasks or offering advice, which then creates a supportive work environment where people feel they are not alone in facing difficulties. The practical and emotional support friends provide can bring extra motivation and help the work get done faster.
Also, team members who feel connected to their colleagues are more likely to stay with the team longer. Friendships at work can foster a sense of
Helping resettle
By Michael Casey & Terry Chea The Associated Press
SAN FRANCISCO—Cabrel Ngounou’s life in Cameroon quickly unraveled after neighbors caught the teenager with his boyfriend.
A crowd surrounded his boyfriend’s house and beat him. Ngounou’s family learned of the relationship and kicked him out. So Ngounou fled— alone and with little money—on a dangerous, fouryear journey through at least five countries. He was sold by traffickers and held captive as a sex slave in Libya, harassed in Tunisia and tried unsuccessfully to take a boat to Europe. “The worst thing was that they caught us. So it was not easy for my family,” Ngounou said. “My sisters told me I need to get out of the house because my place is not there. So that’s what really pushed me to leave my country.”
Ngounou’s troubles drew attention after he joined a protest outside the UN refugee agency’s Tunisia office. Eventually, he arrived in the United States, landing in San Francisco in March.
Ngounou joined a growing number of LGBTQ+ people accepted into the Welcome Corps, which launched last year and pairs groups of Americans with newly arrived refugees. So far, the resettlement program has connected 3,500 sponsors with 1,800 refugees, and many more want to help: 100,000 people have applied to become sponsors.
President Joe Biden has sought to rebuild the refugee programs Donald Trump largely dismantled as president, working to streamline the process of screening and placing people in America. New refugee resettlement sites have opened across the country,
belonging and loyalty, reducing turnover rates and contributing to a stable and cohesive team. People are more inclined to stay in jobs where they feel emotionally invested and have strong social ties. However, work friends can also have disadvantages if not maintained well. One of the biggest challenges of having friends at work is maintaining appropriate boundaries between personal and professional roles. When friendships mix with professional responsibilities, it can lead to issues like favoritism, perceived bias, or difficulties in providing honest feedback. The line between being a supportive friend and a responsible colleague can sometimes become unclear, which can lead to unwarranted tension. Friendships can also sometimes breed gossip that can lead to a toxic work environment. The informal sharing of information between friends can inadvertently lead to misunderstandings, rumors, or even jealousy among coworkers. Personal conflicts that arise from friendships can disrupt team dynamics, leading to divisions or workplace drama that can harm productivity and morale. Also, much as work friends can become a sounding board of the challenges they face in the workplace, it can become toxic when it foments dissatisfaction and ill will towards other team members.
In situations where friends are in positions of authority over another, conflicts of interest can arise. Managers may feel conflicted about disciplining a friend, or friends may expect preferential treatment.
and the Biden Administration has announced that it resettled 100,000 refugees in fiscal year 2024, the largest number in more than three decades.
In contrast, Trump has pledged to bar refugees from Gaza, reinstate his Muslim ban and impose “ideological screening” for all immigrants if he regains the presidency. He and running mate JD Vance are laying groundwork for their goal of deporting millions of illegal immigrants by amplifying false claims, such as the accusation that Haitians given temporary protected status to remain in the US legally are eating pets in Ohio.
Under Biden, meanwhile, two human rights officials in the State Department were tasked last year with identifying refugees who face persecution either due to their sexual orientation or human rights advocacy. “LGBTQ refugees are forced to flee their homes due to persecution and violence, not unlike other people,” said Jeremy Haldeman, deputy executive director of the Community Sponsorship Hub, which implements the Welcome Corps on behalf of the State Department. But they are particularly vulnerable because they’re coming from places “where their identities are criminalized and they are at risk of imprisonment or even death.”
More than 60 countries have passed anti-LGBTQ laws and thousands of people have fled the Middle East and Africa seeking asylum in Europe. In April, Uganda’s constitutional court on Wednesday upheld an anti-gay law that allows the death penalty for “aggravated homosexuality.”
“There are just a lot of people who are really at risk and are not safe in their country, and they’re usually not safe in the neighboring or regional countries
These situations can lead to professional dilemmas where personal feelings clash with the need to maintain fairness and objectivity in the workplace.
While having friends at work can boost morale, it can also become a distraction. Casual conversations and social interactions can eat into work time leading to reduced focus on tasks. It is easy for small breaks to turn into long chats, which can negatively impact productivity especially when work friends spend excessive time together during work hours.
Workplace friendships do not always last, and when they dissolve, it can lead to awkwardness and tension in the office. Since you still have to interact with former friends, it can create uncomfortable situations, potentially affecting both your performance and the overall team dynamic. When friendships go sour, it can create a hostile environment that affects everyone involved.
Having friends at work can provide many personal and professional benefits, including increased job satisfaction, better teamwork, and a more supportive workplace. However, it is important to navigate these relationships carefully to avoid pitfalls like blurred boundaries, workplace gossip, or conflicts of interest. By maintaining professionalism while building meaningful connections, you can enjoy the positive aspects of work friendships while minimizing the risks. Ultimately, the key is to strike a balance between personal connections and professional responsibilities, ensuring that your workplace remains both productive and enjoyable. n
either,” Kathryn Hampton, senior adviser for US Strategy at Rainbow Railroad, which helps LGBTQI+ people facing persecution.
The demand far outstrips capacity: Of more than 15,000 requests for help in 2023, the nonprofit helped resettle 23 refugees through the Welcome Corps program in cities as large as Houston and towns as small as Arlington, Vermont. It has a goal of resettling 50 this year.
“So, we have a lot of urgency as an organization to find and create new pathways that LGBTQI+ people can access to find safety,” Hampton said.
Welcome Corps sponsors are expected to help refugees adjust for at least three months after they arrive. Garcia said the five volunteers helped her “adapt to a new life with a little less difficulty,” by accessing benefits, getting a work permit and enrolling in English classes. Ngounou recalled how his sponsors, a team of seven that included a lesbian couple, Anne Raeff and Lori Ostlund, hosted him and connected him with LGBTQ resources and a work training program. They also served as his tour guides to gay life, taking him to the historically gay Castro district, where Ngounou got his first glimpse of the huge rainbow Pride flag and stopped to read every plaque honoring famous gay people. “Cabrel was just very, very moved by that. Just kind of started crying. We all did,” Raeff recalled.
Now the 19-year-old Ngounou works in a coffee shop and takes college courses, with the goal of becoming a social worker. He hopes the boyfriend he met in Tunisia can visit him in San Francisco—and he still finds it hard to believe that they can share their love openly.
B5
Editor: Gerard S. Ramos
PHOTO BY BROOKE CAGLE ON
daughter Maria Jasmin J. Jamora, MD; and daughter-in-law Krisinda Clare C. Dim-Jamora. Also present are MakatiMed interim co-presidents and CEOs medical director Saturnino P. Javier, MD, and chief finance officer Arnold C. Ocampo, and Medical Staff Association president Noemi M. Sarabia, MD.
SECURITY
Entrepreneur
Editor: Vittorio V. Vitug
Pay platform operator backs PHL gig economy, MSMEs
By Reine Juvierre Alberto @reine_alberto
CROSS-bOR deR payments platform operator Payoneer Inc. remains optimistic about the growth of freelancers and outsourcing companies in the Philippines given the rise of globalization and digitization.
Payoneer Senior Director for Customer Success Monique Avila told the BusinessMirror that Payoneer’s Philippine market, mainly composed of outsourcing companies and freelancers, is still on the rise.
“We’ve been betting on this vertical ever since 2009 when the growth started with Payoneer for freelancers,” Avila said on the sidelines of the “Accelerate Your Growth: Entrepreneurship Program” culminating event on October 15.
Avila noted that more Filipino entrepreneurs are expanding their clientele not just in the Philippines but globally, such as in Australia and United Kingdom. Digitization also comes into play with more Filipino freelancers adapting to more advanced tools to cater to their clients’ needs, she added.
In all that, Payoneer sees itself as providing reliable and secure crossborder payment platforms as well as being on the ground and in the
ecosystem to offer support, according to Avila.
“Aside from payments, we want to go beyond that and be in the ecosystem,” she said.
As such, Payoneer culminated its incubation program for Filipino entrepreneurs aimed to provide access to formal mentorship to better equip them to answer tough questions to go to market and secure funding while being surrounded by a community of like-minded peers.
The program featured a structured and guided methodology for business development, program team support and business plan development.
“This is the first time that we have brought an incubation program to the Philippines from Payoneer. We were able to give the candidates access to formal mentorship. They have a business idea but they don’t have access to a mentor until now,” Avila said.
The program included a series of workshops and mentorship sessions tailored for early-stage entrepreneurs, such as a pitch competition, wherein three finalists presented their business ideas to a panel of judges.
Web designer and co-founder of Studio Naghisa Sheila Fuentes received P50,000; Orange Silverio, co-founder of an aquaculture venture called Tambanokano was granted P75,000; while Head of Business Development Anna Violeta of data visualization and analytics Her Storyteller Studios took home P100,000.
The finalists will also receive Payoneer services and access to further
mentorship and networking.
According to the company, while 99.5 percent of SMBs in the Philippines employ 60 percent of the country’s labor force, these vital enterprises often face significant challenges, including limited access to resources, mentorship and networks critical to their growth.
The firm’s survey of 3,779 smallscale and medium-sized businesses across 15 countries found that 38 percent of Filipino businesses view brand awareness and marketing as the top challenge to expanding to new markets.
A statement by Payoneer said they believe its 6-month “Bridge for Billions” program “provides opportunities for entrepreneurs to have access to credible mentorship and deepen their knowledge of business fundamentals, and secure funding.”
Avila added that that program is the firm’s way of giving back to the Philippine market for trusting the platform for more than 15 years.
“As we look into the future, Payoneer envisions a bright path for Filipino entrepreneurs,” she added.
Avila said the success of the program allows the company to “create other innovative and better ways to boost Filipino entrepreneurship and drive meaningful change both locally and globally.”
“Payoneer remains dedicated in supporting this journey, helping SMBs reach new heights and seize the bigger opportunities of tomorrow,” she added.
Davao micro-entrepreneurs get Sen. Bong Go’s support
SENATOR Christopher Law -
rence “Bong” Go’s “Malasakit Team” reached out to underprivileged families in New Bataan and Nabunturan in Davao de Oro, on October 15.
Go’s “Malasakit Team” partnered with the local government units (LGUs) and the Department of Trade and Industry (DTI) in providing livelihood kits to qualified beneficiaries as part of their “Pangkabuhayan sa Pagbangon at Ginhawa” (PPG) program. The Senator reaffirmed his commitment to supporting government programs aimed at enhancing livelihoods, particularly in areas severely impacted by poverty and natural disasters. He expressed his ongoing support for initiatives like the PPG program, which he had advocated for, to help uplift the livelihoods of the poor.
Ang PPG program ay isang malinaw na halimbawa kung paano natin
THE Asialink Finance Corp. announced it has been honored with the “Circle of Excellence Award for SME Company of the Year” at the Asia CEO Awards.
In a statement, the financial institution said the recognition “underscores Asialink’s pivotal role in supporting the growth and development of micro, small, and medium-sized enterprises (MSMEs) in the country.”
In addition, its founder and CEO, Robert B. Jordan Jr., was also bestowed with “The Circle of Excellence Award” as “Entrepreneur of the Year.”
“This award celebrates Jordan’s exceptional leadership, entrepreneurial vision, and unwavering commitment to driving positive change in the Philippine business landscape,” his company’s statement read. It added that under Jordan’s guidance, Asialink has expanded rapidly, establishing a strong network of nearly 200 branches nationwide, employing over 2,000 individuals, and partnering with 4,000 sales agents. The company offers a diverse range of financial solu-
maipapakita ang malasakit at suporta sa ating mga kababayan na tinamaan ng mga pagsubok. Ang inyong pagsisikap ay hindi lamang nagbibigay ng tulong sa mga pamilya at indibidwal, kundi pati na rin sa mga komunidad na nangangailangan ng pagbangon,” Go told the beneficiaries.
In addition, Go’s “Malasakit Team” provided essential goods, including snacks, vitamins, shirts, masks, and basketballs and volleyballs to the 120 qualified beneficiaries gathered at the Municipal Council of Women Building in New Bataan and Nabunturan Municipal Covered Court. Select recipients also received new pairs of shoes and mobile phones.
“Palaguin niyo ang inyong negosyo. Kapag lumago ang inyong negosyo, dalhin niyo po ang mga kita sa inyong mga pamilya...mas masarap sa pakiramdam kapag pinagpawisan at pinaghirapan niyo po ang inyong pagnenegosyo at
napalago ninyo ito,” he added.
In support of local businesses, Go co-sponsored and is one of the authors in the Senate of Republic Act (RA) 11960, known as the One Town, One Product Philippines law. The OTOP program promotes national pride in Filipino-made products while providing small-scale producers opportunities to expand their market reach. By focusing on local specialties, the program aims to elevate the livelihoods of communities and contribute to the nation’s overall economic progress.
“Sa tulong ng batas na ito, ating pinapalakas ang mga lokal na negosyo sa bawat bayan at siyudad sa bansa. Ipinapaabot natin sa kanila ang suporta na kinakailangan nila upang mapanatili ang kanilang operasyon at maabot ang mas malawak na merkado,” he explained.
As chairman of the Senate Committee on Health and Demography,
tions tailored to meet the unique needs of MSMEs and individuals, making it a trusted partner for businesses of all sizes.
“MSMEs are the backbone of the Philippine economy, and their success is crucial to the overall growth and development of our country,” Jordan was quoted in his company’s statement as saying.
“Asialink is committed to providing the necessary financial support and resources to help MSMEs thrive and contribute to the nation’s economic prosperity.”
“Asialink has always been committed to addressing the financial needs of individuals and MSMEs in the country,” the company said. “By providing secured business financing and secured personal financing, Asialink enables these entities to pursue their goals and manage unexpected financial challenges with ease.”
“This recognition is a testament to the hard work and dedication of our entire team at Asialink,” Jordan added. “We will continue to innovate and provide exceptional financial solutions that empower MSMEs and entrepreneurs to achieve their goals.”
Go took the opportunity to emphasize the importance of prioritizing health for the residents. He encouraged them to avail of medical assistance through the Malasakit Centers, conveniently located at Davao de Oro Provincial Hospital branches in Laak, Montevista, Maragusan and Pantukan, as well as the Davao Regional Medical Center in nearby Tagum City.
Go is the principal author and sponsor of RA 11463, also known as the Malasakit Centers Act of 2019. There are now 166 operational centers that have assisted over 15 million Filipinos, as reported by the Department of Health.
“Patuloy kaming magseserbisyo sa inyo dahil bisyo ko ang magserbisyo at ako ay naniniwala na ang serbisyo sa tao ay serbisyo ’yan sa Panginoon, serbisyo ‘yan kay Allah,” underscored Go who is known as “Mr. Malasakit” for his compassionate service to Filipinos in need.
GOALS are an essential part of sales leadership.
But you don’t stop at simply knowing where to go or what to do next. You need to work smart by knowing your “SMART” objectives: “Specific” and “Measurable,” “Ambitious” yet “Realistic” and “Timebound.” However, I occasionally stumble upon leaders who fail to consider this simple and practical rule on setting goals. In most cases, they end up celebrating what shouldn’t be, and justifying below-average performance as a convenient excuse for mediocrity. But you can definitely do better if you always apply SMART objectives.
Here’re three reasons why it’s important to do so.
1. You know what’s expected of you.
Setting SMART objectives allow you to determine exactly what and when you need to deliver. This unclouded clarity of what’s expected of you will pave the way for better planning and strategy development.
Here, the goals are both specific and measurable. There is no room for vague directions nor unclear expectations. Moreover, objectives are timebound; hence, you are guided towards achieving goals based on specific timelines.
Knowing full well that any deviation to your timetable will surely impact on performance, you will tend to accomplish tasks within specified schedules. Remember, ideal outcomes emanate from clear directions.
2. You are able to increase your capacity. By having ambitious yet realistic targets, you are able to stretch your capacity beyond the usual sans the risk of moving towards your breaking point. This is an impor -
tant aspect in goal-setting as it challenges you to break the ceiling of your previous track record and achieve better results every time. After all, sales leaders are like rubber bands: they are more effective and useful when stretched. So always use SMART objectives to increase your capacity to outperform the previous you.
3. You have a barometer for success.
Comparing your SMART objectives with actual results is your best barometer for success.
Were you able to achieve your specific and measurable goals? Did you achieve more? And were you able to accomplish the tasks on time? Immediately, you can assess success, failure and level of performance. And you can either celebrate or move back to the drawing board. Rid yourself of false pretenses, excuses and mediocrity, and face the reality of actual results vis-àvis your goals. Only then can you begin to achieve genuine success. The concept of SMART objectives may be so elementary that we often overlook its real value in planning and leadership. But’s that’s also where its beauty is found. Its immense simplicity will allow us to plan and execute goals more effectively and efficiently. So let’s be smart and have goals that are truly SMART.
Editor: Tet Andolong
Malls got it all
By Rizal Raoul S. Reyes @brownindio
The Philippine malling environment has drastically changed since the first mall was established 92 years ago in escolta, Manila.
In an article entitled “STATE OF POWER 2017 Mall Culture and Consumerism in the Philippines” authored by JoreAnnie Rico and Kim Robert C. de Leon, Crystal Arcade, built by Architect Andres Luna de San Pedro, son of Filipino patriot Juan Luna, was the first modern mall in the country. Experts said the mall resembled the arcades of Paris with covered walkways, window displays, cafés, and other specialty shops. Designed and built by Architect Andres Luna de San Pedro, son of Filipino patriot Crystal Arcade, the first air-conditioned building in the country, introduced an era of a “national culture centered on commodity,” according to authors.
“Although it was ravaged in the Second World War, the Crystal Arcade became the predecessor of modern malls in the country,” they added. These giant edifices have definitely
become part of the local culture and dominated the National Capital Region skyline.
Just take a look at the Mandaluyong City portion of Epifanio delos Santos Avenue (EDSA) where SM Light Mall, Shangri-La Plaza, SM Mega Mall, and Robinsons Galleria are vying for the shoppers’ attention.
In her article, “Philippine Mall Culture: A Capitalist Reimagining of Public Spaces” https://www.alterinter. org/?Philippine-Mall-Culture-A-Capitalist-Reimagining-of-Public-Spaces author Celine Li expressed amazement that local shopping malls not only functioned as a place where Filipinos meet friends and family, but also a way for people to unwind, relieve stress and even work productively. From shopping to attending religious services, the malls have got it all for people from six to 96.
Meanwhile, malls have also embraced various social causes such as animal awareness in response to the changing times.
Animal welfare
H ARD Rock at S Maison mall recently hosted the celebration of Global Cat Day. It hosted a cat awareness, behavior, adoption and welfare seminar that was held with featured veterinarian speakers and feline experts.
The free admission seminar touched on various issues and topics such as the Health of Cats and Kittens, Diet and Nutrition, Grooming, Helping and Saving Stray Cats and other important matters. Special speakers and guests included Dr. Apol Guimpayan of Makati Animal Medical Center Inc., who talked about the health of cats and kittens; Zoetis PH’s Dr. Ariel Poliquit who shared about cat behavior; Dr. Joan Lumabiang discussed different types of cats and their various coats and colors; Ms. Lala Ursal who spoke on grooming; Biyaya Animal Care’s Rina Ortiz talked on helping and saving stray cats and Dr. Tat Reano of Broadchem Philippines Biopharma Corporation whose talk was centered on core vaccinations, deworming, spaying and neutering.
SM’s footprint in Clark: A bustling gateway to the
north
THE SM group’s integrated and strategically located properties in Central Luzon’s Clark Freeport and Special Economic Zone—SM City Clark, SM Offices, National University, SMX Convention Center and Park Inn by Radisson Clark all located within a complex, serve as economic and cultural hubs, complementing Clark’s rapid development as a gateway to the north. The transformation of Central Luzon’s Clark Freeport and Special Economic Zone in Pampanga continues to provide an alternative in addressing the rapid urbanization in Metro Manila. Clark’s evolution into a gateway destination for business and lifestyle is driven by strategic infrastructure development, a thriving tourism sector, and public-private partnerships further contributing to its growth.
“This region has steadily grown and is becoming a hub for growth,” said SM Supermalls President Steven Tan. “That’s why in recent years, we have supported that growth through our integrated properties to help spur economic activity for the benefit of communities where we operate.”
From its initial foray into the Freeport in 2006, available jobs across the different SM properties in the area now contributes over 20 percent of the total jobs out of the 138,000 individuals currently employed in Clark. In SM Offices alone, there are over 22,000 jobs across all current 10 office towers in addition to the 5,000 mall tenants in SM City Clark.
SM’s presence in Clark has evolved in accordance to the needs of the community, bringing access to quality education, and the promotion of tourism and local heritage through its integrated property development approach.
“The impact of SM in terms of integrating economic activity and investments has been consistent,” a representative from the Clark Development Corporation (CDC) said.
In 2023, SM City Clark ranked among the top five revenue generators, contributing 6 percent to CDC’s total revenues.
The complex’s proximity to Clark International Airport, the Subic-ClarkTarlac Expressway (SCTEX), and soon the North-South Commuter Railway (NSCR) is anticipated to boost mobility and access to and from different northern regions.
Empowering local talent
L OCAL homegrown businesses like women’s accessories brand Malanne of Ms. JoAnn “Anne” Emperado-Macababat had the opportunity to join the SM StartUp Market as one of its pioneer brands. Starting with just 10 earring designs at SM City Clark, Malanne has now expanded to over 300 designs and six locations across different SM Supermalls, including SM Mall of Asia, SM City Fairview, SM City Bicutan, SM City Sucat, and SM Store Makati.
One of the earliest local entrepreneurs that SM partnered with in Clark is perfume brand Prescripto founded by Mr. Marnie Alcantara back in 2006. What started with a handful of bottles sold to friends quickly grew to an enduring business with over 65 branches nationwide.
In an earlier interview, Mr. Alcantara recalled how it was just his brother him who managed their first stall.
“Hindi naman kami businessman paano kami maa -approve,” he remembered.
“Still, SM gave us that chance.” (We weren’t businessmen so, how can we be accepted? But still, SM gave us that chance.)
Expanding horizons
SM’s integrated property in Clark is set to strengthen its links within and beyond the city with the construction of a multimodal transport terminal which began in September this year.
The transport terminal is seen to improve public access to and from Clark, particularly in anticipation of the NSCR station’s completion, which will connect to the mall.
The multimodal terminal will not only connect to the train but will also accommodate bus routes going farther north, and other upcoming routes that can converge in Clark. It will also connect to SM City Clark’s Sky Line, making access within a 5-10-minute walk.
“By building a vibrant transport hub, SM aims to create a connection between Metro Manila and other cities in the northern region to promote local trade, tourism with Pampanga as a key destination,” Mr. Tan added.
SM Hotels and Conventions Corp. (SMHCC) is also set to expand its Clark portfolio, including SMX Convention Center and Park Inn. Park Inn has said there are plans to add more hotels to the complex over the next five years.
Cafe Manila and Makati’s Director of Operations Clintbrian Peck said the celebration of Global Cat Day and Animal Day is timely to raise awareness about the well-being and health of feline friends and cats and the significance of their contribution to the environment. “It is also important to educate cat owners to know more about these cute furry friends. Our aim is also to give them a chance to live a happy and secure life by adopting them,” he said.
Peck said Hard Rock Cafe Manila and Hard Rock Cafe Makati are supporting and helping stray cat communities and cat associations in the country as part of its philanthropic and advocacy. I believe we must love all cats, pedigree, or non-pedigree. “We must respect them and be kind to them,”
he said.
The health and well-being of cats and pets must come first. As a cat owner, we want to have healthy, happy cats that fit our lifestyle, and the relationship should be rewarding for both cats and humans.
Peck said owning a cat is a big responsibility. Adopting one is a lifelong commitment that is both enriching and fulfilling. Although it is challenging sometimes, he said it is well worth the time and effort.
The Bistro Group, under which Hard Rock Cafe, is an advocate of animal welfare.
Bistro Fur Friends has grown into a dedicated movement committed to rescuing, healing, and finding loving homes for disadvantaged dogs and cats.
In another development, Mall of Asia-
based Toy Kingdom recently welcomed more than 100 toy brands in its Toy Expo 2024 to cater to the preferences of children for other toy brands.
Rhoan Glorioso, Senior Vice President, International Operations, International Toyworld, Inc said it was a comeback for the company as it had to stop the annual event during the pandemic. “The customers were clamoring for it and so we decided on it because it’s time to bring back the Toy Expo to have a fun time with the customers,”said Glorioso. He said this is the right time to give back to the customers so they could experience the expo again. One of the highlights of the expo is that it does not cater to kids per se but kids for all ages.
Toy Kingdom attracts kids and the kids at heart.
B8 Wednesday, OctOBer 23, 2024
mirror_sports@yahoo.com.ph
Editor: Jun Lomibao
ABABA RISES DESPITE WET, WILD CONDITION
‘Pride,
By Josef Ramos
PEDRO TADURAN defends his International Boxing Federation (IBF) minimum weight crown for the first time against China’s Zhu DianXing, on November 23 in Jeju Island in South Korea. The two-time world champion from Libon in Albay told B usiness M irror on Tuesday that he’s been training at the Elorde Boxing Gym in Sucat for the apst two months under conditioning coach Niko Manahan and trainer-coach Carl Peñalosa.
“I train hard everyday except on Sundays because I go home to my wife Mary Ann in Calamba,” the 28-yearold Taduran said. “I cannot take my opponent lightly, this fight is for pride and country.” Zhu, also 28, is called the “Chinese Juggernaut” because of his knockout prowess—he knocked out eight of his last nine opponents and sports a 14-1 win-loss record, 12 by knockout.
“I watched Zhu’s previous bouts and he looked durable and aggressive,” said Taduran, a former World Boxing Association minimum weight champion.
“But I’m not bothered. In my entire career as a pro, I have fought the best in my division.”
Taduran, who carries a 17-4-1 winloss-draw with 13 knockouts, captured the IBF belt after scoring a ninth-round technical knockout win against Ginjiro Shigeoka last July 28 in Shiga, Japan.
SARAH ABABA showcased her mental toughness and precision in the opening round of the International Container Terminal Services Inc. (ICTSI) Negros Occidental Classic for a gutsy two-under 68 and a three-stroke lead over Daniella Uy in Bacolod City on Tuesday.
Tackling the rain-soaked layout known historically as Marapara which stretched beyond its listed 6,166 yards, the Davaoeña was resilient in navigating the course’s challenges made worse by relentless rain from Typhoon Kristine.
The adverse weather softened both fairways and greens, lengthening the course and testing the players’ stamina, strategy and focus.
But Ababa rose to the occasion with poise and accuracy.
“I didn’t focus on the course conditions. I just aimed to stay consistent,” said Ababa, whose back-to-back birdies from No. 14 complemented her solid start of two birdies in the first five holes this offsetting bogeys on Nos. 9 and 11.
“Everything clicked— my tee shots to putting,” she said. “My dad-caddie, who helped read the greens, was a big help.”
Ababa credited her father, former Tour stalwart Edgar Ababa, for helping hear read the tough greens.
“We’re used to playing in these kinds of conditions, but having my dad with me on the course is a big edge,” added Ababa, the two-time winner this year at Apo and Iloilo. Uy, winner in Bacolod last week, tried to challenge Ababa in the front nine. However, but after matching par at the back, faltered with three bogeys in her last nine holes despite two birdies to finish with a 71.
“There were some mistakes, but my short game saved me today,” Uy said. “Honestly, the weather didn’t bother me too much. In international tours, we’ve played in heavier rain.”
Florence Bisera and Gretchen Villacencio carded 72s to share third place, while Harmie Constantino took solo fifth with a 73.
Jiwon Lee, Mikha Fortuna and Chanelle Avaricio followed with 74s, while Princess Superal and Mafy Singson had a rougher start with 76s.
Chihiro Ikeda and Laurea Duque posted 77s, while Marvi Monsalve and Apple Fudolin rounded out the day’s scoring with 78s, all hoping to mount a comeback in the second round of the P1 million championship presented by Negros Electric and Power Corp.
Bisera, who also drew confidence from her father-caddie Reynaldo, found success in her driving, woods and irons.
“My putting really clicked today, and I was able to save a lot of pars,” she said.
Villacencio, recovering from an injury sustained in Iloilo, expressed satisfaction over her round, noting her improved form compared to her 14th-place finish in Bacolod last week.
“I’m playing with more confidence now,” said Villacencio, one of the few players who did not make any club adjustments despite the challenging conditions. “It’s better to play short here and aim just before the green.”
Bibat takes early lead with 66, four players just two shots off
MICHAEL BIBAT battled through relentless rain and unpredictable conditions to claim the first-round lead at the International Container Terminal Services Inc. (ICTSI) Negros Occidental Classic with a four-under 66 for a two-stroke lead over four others at the Negros Occidental Golf and Country Club in Bacolod City on Tuesday.
Bibat managed his game under bad conditions and tackled the front nine with three birdies and one bogey to lay a strong foundation.
He remained steady on the increasingly difficult back nine with birdies at Nos. 10 and 13 while
many others struggled to handle the slick, muddy fairways and tough pin placements.
“I was lucky because it’s not easy to play under these conditions—rain, wind and difficult pin positions,” said Bibat, whose last victory was in 2022 at Eagle Ridge. “I could’ve gone lower, but I’ll take it.”
Trailing Bibat by two strokes were last week’s Bacolod Challenge winner Reymon Jaraula, seasoned veteran Angelo Que, rising star Rupert Zaragosa and unheralded Francis Morilla, all with 68s. Lakewood leg titlist Sean Ramos and Russell Bautista followed closely
AIDAN JAMES MENDOZA hardly flinched despite the slippery road to claim the men’s elite title of the Go For Gold Criterium Race Series 3 in General Santos City over the weekend.
The fearless sprinter from the Go For Gold Continental Cycling Team cut loose from the peloton early wild and wet conditions and won a two-man sprint against Standard Insurance’s Jun Rey Navarra.
Marc Ryan Lago, another Go For Gold standout, checked in third four seconds later.
“it’s a great feeling winning for my team,” said Mendoza after the event raced over a 1.40-km circuit fronting city hall.
“I felt the race will be decided in the sprint so I made my move early enough,” added the 25-year-old Mendoza who finished third in a stage at the Tour of Thailand earlier this year.
John Andre Aguja also made Go for Gold proud by winning the mountain bike
junior men’s crown while Kate Yasmin
Velasco, coming out of motherhood and also racing for Standard Insurance, ruled the women’s open. The third and final leg of the of criterium series this year was supported by Go For Gold PH, Scratchit, PhilCycling, General Santos
with 69s, while Tony Lascuña, who topped the Splendido Taal leg in harsh weather conditions, Hyun Ho Rho, Gerald Rosales and Randy Garalde carded even-par 70s, keeping the leaderboard crowded in the early stages of the P2.5 million championship presented by Negros Electric and Power Corp.
Jaraula, aiming for back-to-back wins, was composed at 2-under in the front nine before encountering challenges in the last nine holes.
“I just played relaxed and took my time,” said Jaraula, who rebounded with two birdies in the last five holes after bogeying Nos. 11 and 13.
City and world boxing icon and former senator Manny Pacquiao.
“Our races are organized to give more opportunities for our local riders and for sure we will have more legs next year where we can hopefully find more
All set for World Dragon Boat tourney in Puerto
By Aldrin Quinto
ADDLERS from 26 countries are all set
Pto compete but several others will still confirm their participation in the International Canoe Federation Dragon Boat World Championships set October 28 to November 4 in the Puerto Princesa City.
The Baywalk Park will serve as spectator stands as the sport’s elite battle for top honors and spots in the World Games in China next year.
Czech Republic, Hungary, Ukraine, Russia and China lead the elite cast while focus will also be on the Philippines, no stranger to the podium in world competition having won five gold medals in the 2018 World Championships at Lake Lanier in Gainesville, Georgia after claiming three gold medals two years earlier in Moscow.
The Philippines will be taking advantage as hosts by fielding more than 200 paddlers.
India with 160 and Iran and Thailand with around 80 each are sending the most number of paddlers with the total field of more than 1,500 still likely to balloon with the expected arrival of teams from Italy, Kazakhstan and Macau.
Philippine Canoe Kayak Dragon Boat Federation president Len Escollante said the federation and the local government of Puerto Princesa City are determined to deliver as hosts as the world championships will be held in Southeast Asia for the first time.
Thailand is among the regional rivals to watch, Escollante noted, since it is looking for a boost ahead of its hosting of the Southeast Asian Games in 2025.
upcoming cyclists,’’ Go For Gold founder Jeremy Go said.
Go For Gold’s Marvin Mandac again topped the men’s junior race after defeating teammates Aguja and Justhene Navaluna.
Kathlene Dela Vega shone in the women’s junior division in a high-speed finish where she nosed out Aira Danara Gregorio and Xarles Adrian Dorado also grabbed victory by the skin of his teeth against Nathaniel Aquino in the men’s youth category.
Andrei Deudor ruled the men’s under-23 category in a bunch finish where the Standard Insurance sprinter beat his teammate Steven Tablizo at the line while Jexxel Azur wound up third.
Adrian Bayot bested the field in the managers’ category, Jumar Del Rosario took the title in the 30-39 division and Noel Lacamento emerged triumphant in the 40-up category.
Justine Paul Rodolfo edged veteran national rider Ronald Oranza at the line to claim the MTB men’s open and Alyssa Ashley Jalipa got herself going in the final two laps to secure the women’s youth plum at the expense Shyrah Mae Rizalado.
“We are gunning for medals against some of the best around the world but even among the Southeast Asian countries the battle will be tough and exciting,” said Escollante during the Philippine Sportswriters Association (PSA) Forum at the Rizal Memorial Sports Complex. Fifty-four events will be contested, including 18 in the open division and nine in the juniors divisions, with races in 2,000 meters, 500m and 200m.
Qualifying for the World Games will be decided by cumulative times from all three distances, with the top 10 countries advancing. Escollante is counting on the Philippine senior mixed team—six
In coaching battle against Cone, Chot embracing underdog status
By Josef Ramos
THE Philippine Basketball Association (PBA) Governors’ Cup Finals have all the makings of a blue-chip duel not only between teams with reputations but coaches having CVs splashed with accomplishments both in the domestic and global arena.
“It’s a showdown between the two best teams in this conference and we’re are all looking forward to it,” said TNT Tropang Giga head coach Chot Reyes, once a deputy to Barangay Ginebra San Miguel’s Tim Cone quite a long time ago in the PBA.
“It’s a huge challenge,” added Reyes as Ginebra and TNT try to make the most out of the weeklong or so break ahead of Game
1 of their best-of-seven titular showdown on Sunday at the Ynares Sports Center in Antipolo City.
“It will take our best to have a chance against Ginebra,” Reyes, 61, added.
Reyes and Cone are just too familiar with each other that they’ve become friends off the court despite several confrontations on it.
“There’s always been this rivalry between Ginebra and Talk ‘N Text,” Cone said.
SEV SARMENTA is an icon in sportscasting, one of the most durable in the business. His well-read sports column once graced the hallowed pages of the Inquirer, and his pieces then were wonders worth keeping.
In short, he is a legend in both broadcasting and sports journalism. Sev was my mentor, patiently sculpting me into a radio analyst of Philippine Basketball Association (PBA) games in another age. Sev was a long-time assistant professor at Ateneo de Manila University, where he was once chairman of the Ateneo Communication Department.
He had just bought my book and that’s a flattery of the first order. Read on:
“Going through Al S. Mendoza’s columns in Spectator Gems made me recall the many sports stories we shared during a colorful era of Philippine sports.
“The pieces in Al’s latest book [available at Shopee, Lazada and UP Press Diliman] made me young again.
“In my early days in sports, reading Al’s take on heroes, slips, oversights and glorious moments were preparations for my own coverages. Occasionally, we would dish out those stories when we did the PBA radio panel in the 1990s, a role he relished and considered as important for hoop fans who were too far away from a TV set in a pre-social media era.
“If you were a sports fan back then and still are, then Spectator Gems should be in your collection of Filipino sports accounts. This is our shared journal of those days.
“The pieces are best read with the eyes of the context in which they were written. In Al’s crisp and candid style, he informs, cajoles, criticizes, calls for change or treats us to lively accounts of the Filipino athletes’ pursuits.
“The personalities of those days bolt out of the pages of Spectator anew: Danny Floro is still on Crispa’s bench, Robert Jaworski remains the Big J, Joe Cantada’s voice
“I’m looking forward to mixing it up with my buddy [Reyes].” Cone added: “We’re really just happy that we are back in and going to pit myself against my good friend.” Championship-wise, Cone has a big edge with his 25 PBA championships to Reyes’s nine. In the international arena, the Ginebra coach is coming off a gold medal finish for Gilas Pilipinas last year in the Hangzhou Asian Games, although Reyes steered Gilas in the 2014 World Cup in Spain as the most illustrious of his achievements in the national team program.
Cone and Reyes are 3-3 head-to- head as coaches REYES and the Tropang Giga advanced to the Finals after going 3-1 over Rain or Shine and had the luxury of extra two days to rest their bodies, unlike the Gin Kings who went 4-2 over San Miguel Beer only last Sunday. Reyes beat Cone in the 1994 Commissioner’s Cup, 2002 Philippine Cup and 2008 Philippine Cup while Cone owned Reyes in the 1996 Philippine Cup, 2007 Fiesta Cup and 2012 Commissioner’s Cup. It’s been 12 seasons since both coaches faced each other in a championship series.
from a
Frankie
is again on the world’s greens or Eugene Torre is contemplating his next move. They are all there.
“Younger readers will probably read each piece twice to get the essence of the personalities portrayed and the era described. That’s quite all right because that’s what we often did with Al’s pieces because they captured our day so well, you just had to unfold your Inquirer again and re-read. And to think that we were right there in most of the stories Al recounted. We just wanted to make sure we had Al’s lightning in our own bottles.
“The roles of the sports columnist—as barometerofthesportstimesandchronicler ofthebestandworst—arefulfilledbyAlS. Mendoza to the hilt.Feelthemorningafter a sports event again as you read Spectator Gems.” -SEV SARMENTA
THAT’S IT Coaching will also hug the spotlight when Barangay Ginebra and TNT clash for the PBA Governors’ Cup title beginning on Sunday, October 27, at the Ynares Center in Antipolo City. Ginebra coach Tim Cone stakes his all-time best of 25 PBA titles against TNT strategist Chot Reyes. After his so-so performance as coach of Gilas Pilipinas in the Fiba World Cup, Reyes was replaced by Cone. Cone went on to steer Gilas Pilipinas to the Asian Games basketball gold,
lingers
boxing ring,
Miñoza
SARAH ABABA hopes to hold on after another strong start. ROY DOMINGO
MICHAEL BIBAT is looking to end a twoyear title drought. ROY DOMINGO
AIDAN JAMES MENDOZA and Jun Rey Navarra share the podium with Marc Ryan Lago.