BusinessMirror October 24, 2024

THE Philippine Chamber of Commerce and Industry (PCCI), the top business group in the country, has forwarded to the Marcos administration a more targeted set of resolutions which zooms in on three areas: food security, human resources development and investment and job generation.

As it celebrated half a century of holding the Philippine Business Conference and Expo, PCCI unveiled an 11-page document containing resolutions on Achieving Food Security, Human Resources

Development, More Investments and Job Creation.

Benedicta Du-Baladad, the Chair of PCCI’s Resolutions Committee, saidthese resolutions “were crafted after a long series of consultations with all the PCCI local chambers, through the five area vice presidents, the PCCI sectoral committees and other business organizations and business councils.”

“We received a very long list of suggested resolutions, but we have trimmed it down to the top three, which PCCI considers as the most important,” Du-Baladad explained.

“In alignment with the goals of food security, human resources development, and investments gen-

eration, we, the Philippine Chamber of Commerce and Industry [PCCI] and its local business chambers nationwide advocate the following resolutions and associated action points to the Government of the Republic of the Philippines,” the PCCI said in its 11-page resolution document.

Food security

THE business group called for a “multi-faceted” approach to enhance food security that prioritizes increasing agricultural production, enhancing market access, and ensuring a stable and affordable food supply for all Filipinos.

It recommended five action

points under the food security pillar. One is to establish a Technology Task Force. Under this action point, PCCI underscored the need to form a “collaborative group” of representatives from the Department of Science and Technology (DOST), Department of Agriculture (DA), agriculture experts, and technology companies to identify and deploy modern farming technologies such as climate control, precision farming, and (Internet of ings) IoT applications. In coming up with the said task force, the business group said there is a need to launch pilot projects in S “PCCI,” A

DESPITE inflation cooling down, heated geopolitical tensions are impacting commodity prices and interest rates of the global economy, according to Finance Secretary Ralph G. Recto.

Special to the BM

DESTINATIONS in the Visayas region are among the most popular and frequently visited by both international travelers and domestic tourists.

“This underscores the critical role the Visayas region plays in our national tourism development,” she added, as she likewise highlighted the awards recently accorded to several of its destinations.

Tourism Secretary Christina Garcia Frasco on Tuesday celebrated the region’s signi cant contribution to the industry in her keynote remarks before the League of Municipalities of the Philippines (LMP) Visayas Island Cluster Conference.

“We continue to call for a more

Recto said the escalating geopolitical tensions are posing economic threats, such as sudden spikes in commodity prices and higher interest rates. “ ese risks impair capital flows, fi scal stability and the very survival of economies on the brink,” the Finance chief said at the Group of 24 (G-24) press briefi ng on October 22 in Washington, DC. e costs of confl icts and humanitarian crises suff ered around the world are immense, and the recovery, reconstruction and long-term development of those aff ected cannot be delayed, Recto added. With that, fi nance leaders urged the International Monetary Fund (IMF) and World Bank (WB) to become “more agile and resolute” in supporting monetary and fi nance issues of developing countries.

“Central Visayas, Western Visayas, and Eastern Visayas together accounted for 44 percent of the country’s total tourist arrivals, welcoming over 2.45 million visitors in 2023,” she said. Also, over 9.67 million domestic tourists visited the region accounting for more than 20 percent of overnight travelers that same year, she said.

Readers of a popular luxury and lifestyle travel magazine, for instance, recently named Boracay, Cebu and the Visayan Islands, among Asia’s Top 10 Islands this year. (See, “PHL sites on Condé Nast Traveler readers’ top island picks,” in the BM-

, Oct. 11, 2024.)

She cited the role of the local government units (LGU) in the Visayas in submitting among the most innovative tourism infrastructure proposals to the Department of Tourism’s recent Tourism Champions Challenge (TCC), which was launched at the LMP’s national general assembly last year.

AGRICULTURAL groups urged the government to revert to the previous tari levied on key agricultural commodities when it conducts its periodic review and boost local production.

The National Economic and Development Authority (Neda) is set to review the comprehensive and/or speci c MFN (Most Favored Nation) tari rates listed under Executive Order (EO) 62 by November.

The EO 62, which maintained lower tari s for key agricultural commodities like corn and pork and slashed rice tari s until 2028, provides that the tari scheme be subjected to a periodic review every four months from its e ectivity.

For hog raisers belonging to the National Federation of Hog Farmers Inc. (NatFed), the reduction of tari s did not lower the prices for consumers.

“We urge the government to raise back the tari s to original levels to encourage more local production to manage our nation’s food security goals,” Alfred Ng, Vice Chairman NatFed told the BUSINESSMIRROR on Wednesday. Ng said swine farmers had long been discouraged to raise more pigs due to competition from imported pork and the constant threat brought by the African swine fever (ASF) to the sector. He noted that prior to the ASF outbreak which devastated farms since its

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have a better chance and they could increase the stock they are raising],” he said.

Meanwhile, the Samahang Industriya ng Agrikultura (SINAG) called for either an increase or reversion of the original tari line for rice. Under the Rice Tari cation Law (RTL), the tari scheme for rice is 35 percent if rice is imported within Asean and 180 percent if above the minimum access volume (MAV) and from non-Asean countries. According to SINAG Executive Director Jayson Cainglet, however, the framework and parameters for the review of EO 62, particularly for rice, should hinge on a few factors. This includes the production cost of farmers which currently stands at P16 to P17 per kilo, the farmgate price of palay, and the actual retail price of rice notwithstanding the increase or decrease of in ation.

“As it is, the farmgate price of palay went down faster than the retail prices of rice,” Cainglet told the BUSINESSMIRROR, partly in Filipino.

He noted that from the P26-P30 per kilo farmgate prior to the issuance of EO 62, prices dropped to P16-P17 per kilo for fresh or wet palay and P20-P22 per kilo for clean and dry palay.

“A big drop between P5-P10 per kilo farmgate of palay is a major concern,” Cainglet said.

“We are yet to approach peak harvest, there is concern that the farmgate price of palay will plunge even further.”

For her part, Bantay Bigas spokesperson Cathy Estavillo urged the government to revoke the order and bolster support for local producers through subsidies and post-harvest facilities.

“From the start, many farmers have opposed the implementation of EO 62 because it does not guarantee that rice prices will go down since the rice industry is liberalized,” Estavillo told the BUSINESSMIRROR She said they therefore would prefer an “outright revocation of EO 62. We continue our advocacy to boost local production,” she said.

PHL to ‘leverage’ MDT for possible US polls aftermath

TOshield the Philippine economy from possible inflationary pressures and trade tensions amid the 2024 United States elections, the country will “leverage” its defense treaty with the US, according to Finance Secretary Ralph G. Recto.

During the Group of 24 (G-24) press briefi ng on October 22 in Washington, DC, Recto addressed how a developing country such as the Philippines is preparing for global economic fluctuations should presidential candidate Donald Trump win the November election.

“[ e Philippines and the US] have a mutual defense treaty. We are hoping to leverage that relationship so that we do not get much affected,” Recto, who also serves as the chairperson of the G-24 Board of Governors, said.

e Philippines also sealed a trilateral partnership with Japan and the US, which boosts its security

and economic development, Recto said.

Additionally, the Finance chief said that numerous US companies are interested in investing in the Philippine market, with expectations of increased foreign investments to further bolster the economy.

growth settled within the economic managers’ target of 6 to 7 percent for the year.

“While the global economy shows signs of stabilization, the outlook for many vulnerable nations, particularly in the global south, remains bleak,” according to Recto.

Focusing on the Philippines, Recto said the economy grew by 6.3 percent in the second quarter of 2024. e faster-than-expected

e government is also spending 5 to 6 percent on infrastructure and human resource development, particularly in health and education, he added.

e business process outsourcing was also spotlighted, contributing $35 billion in revenues a year, the same as the flow of remittance to the country. “ at helps

our consumption [since] 70 percent of the economy is household consumption. [P]ublic investments have also generated most of that growth as well,” Recto noted.

For the third quarter of 2024, Recto said the economy will likely grow by 6 percent driven by increased household consumption and declining infl ation.

e country’s infl ation rate settled at 1.9 percent in September 2024, the lowest since May 2020.

Geopolitics fueling hikes in prices, rates

agile and strong-willed IMF and World Bank. We need heightened development cooperation, scaled-up support, and innovative solutions as we now begin [to navigate] the headwinds to foster peace, stability, and prosperity for all,” Recto said, who also chairs the G-24 Board of Governors.

e G-24 identified four reforms to enhance the Bretton Woods international monetary system, to adapt to the changing and volatile global environment.

e IMF is being called to create a new mechanism to support countries with sound fundamentals in times of liquidity crisis. Meanwhile, WB was urged to have more ambitious goals for its concessional and non-concessional windows, commensurate with the challenges of achieving inclusive and sustainable development by 2030.

Recognized among the winners were Tubigon, Bohol for its volcanic plug; Badian, Cebu for its community tourism facility; Silago, Southern Leyte for its eco-heritage museum; Victorias City, Negros Occidental for its birdwatching site at Gawahon Ecopark; and Panay, Capiz for its coastal infrastructure project.

Urgent need for infra

THE three-day LMP Visayas conference at EDSA Shangri-La gathered local chief executives from the region to discuss governance priorities under the theme, “Sustainable Development: Creating Smart Communities Through Localization of the SDGs by Municipal Governments.”

Speaking in a mix of Cebuano and English, Frasco noted the partnership between the national government and LGUs in attaining the United Nations’ Sustainable Development Goals (SDGs) to end poverty.

“All these initiatives re ect our shared goal of promoting local tourism and international tourism, but none of these can succeed without your partnership. The localization of the Sustainable Development Goals requires a wholeof-nation approach, collaboration on all levels

varied agricultural regions to demonstrate the “efficacy” of these techonologies.

PCCI also cited the importance of strengthening the “agriculturalindustry link” through corporate farming, enabling large investors to introduce advanced technologies that can be adopted by smaller operations over time.

Another action point to help attain food security, the business group noted, is to “revitalize” key sectors. PCCI said the government should “conduct comprehensive assessments of the coconut, hog, and aquaculture industries to identify specific recovery needs.” In “revitalizing” these sectors, the PCCI said government should develop a “detailed” fi nancial aid program that includes grants, lowinterest loans, and investment in disease control measures and new technologies.

Still under the Food Security pillar, PCCI cited the need to invest in logistics infrastructure, adding that the country should “allocate government funds to build modern warehouses, distribution centers, and cold-chain facilities.” In pouring capital into logistics infrastructure, the business group said the national government should partner with local governments and the private sector to “streamline” logistics channels for the timely delivery of agricultural products.

PCCI also recommended that the government amend the Agrarian Reform Law to increase the land retention limit from five to 24 hectares, including the lifting of the agricultural land ownership ceiling to encourage more “concentrated” farming businesses.

e members said the Sovereign Debt Resolution Framework must also be reformed to provide timely, effective and impactful debt relief to address the urgent needs of vulnerable economies. Additionally, reforms in the governance and institutions of the Bretton Woods System must be expedited to enhance the representation and influence of developing countries.

“Without improvements and both actions, decades of individual and global efforts to eradicate poverty and inequality, combat climate change, and invest in growth-enhancing projects will be put to a halt, if not reversed,” Recto said.

Still, Recto expressed optimism that achieving a sustainable and inclusive future by 2030 is attainable.

However, this will depend on setting the right priorities and through international cooperation.

of governments, and therefore, as municipal leaders, your role in the success of these goals is absolutely critical,” she said.

The DOT chief enjoined the local executives to help in addressing the “urgent need to build infrastructure to encourage more tourists to visit your destinations.”

She said this was among the key goals under the National Tourism Development Plan 2022-2028. “Focusing on basic tourism development is the only way by which we can increase the global competitiveness of Philippine tourism,” she stressed.

A hub for events

VISAYAS, she added, has become a hub for important tourism events such as the Central Philippine Tourism Expo held in Iloilo City, the Paci c Asia Travel Association (PATA) International Conference on Women in Travel in Bohol, and the First UN Tourism Regional Gastronomy Forum and the UN Tourism Joint Commission Meetings for East Asia and the Paci c and South Asia hosted in Cebu. Next year, Bacolod City will be hosting the rst Terra Madre for Asia Paci c. Meanwhile, Frasco a rmed the DOT’s commitment to working closely with LGUs “to ensure that tourism development in the Visayas brings economic bene ts to our people while

Human resources development UNDER the Human Resources Development, the second pillar contained in the 11-page resolution of PCCI, the business group urged the government to “reform the education system, enhance workforce skills through upskilling and reskilling initiatives and improve the healthcare system to foster a productive population.”

Topping the list of four action points is to amend the Philippine Qualifications Framework, with PCCI citing a need to create and operationalize the Philippine Qualifications Authority (PQA).

Moreover, PCCI said the country should “continously benchmark” the PQF with other Asean member countries’ Qualification Frameworks. e PQF describes the levels of educational qualifications and sets the standards for qualification outcomes. Still under the Human Resources Development pillar, PCCI underscored the need for DepEd, TESDA, and CHED to develop and fund dedicated R&D centers to develop new products, research industry trends, benchmark practices, and maintain updated curricula.

In addition, the business group said the three agencies should collaborate with global technology and R&D companies to develop curricula or programs to further equip learners and workers with the skills needed in high-growth sectors. On improving the country’s healthcare system, PCCI said the government should prioritize the construction of level 3 and 4 healthcare facilities in underserved regions, and ensuring they are equipped to handle local healthcare demands. It also stressed the need for the government to craft malnutrition intervention programs; “initiate community-wide campaigns to raise awareness about malnutrition and its long-term effects on child development,” and “deploy nutrition education initiatives in schools and healthcare facilities as part of a unified national effort to combat malnutrition.”

Investments generation ON attracting more investments and creating more jobs, PCCI un-

Secretary Ralph G. Recto

Kristine’s toll so far: 3 dead, 3 missing

AS Tropical Storm Kristine continues to threaten Luzon with heavy rainfall, at least three persons have been reported killed, 1 injured and 3 others missing, authorities said

This as President Marcos said the government will be tapping its Enhanced Defense Cooperation Agreement (Edca) with the US) and tap military assets from other countries as he mobilized all available resources to respond in areas affected by Tropical Storm Kristine (international name: Trami).

During the situation briefing at the National Disaster Risk Reduction and Management Council (NDRRMC) headquarters in Camp Emilio Aguinaldo, Quezon City, on Wednesday, Marcos said Edca assets will augment the airlift capabilities of the Armed Forces in deploying aid in typhoon-hit areas.

Marcos also ordered strict monitoring of the water reservoirs and the release of water if necessary to prevent disaster.

For his part, Defense Secretary Gilberto Teodoro said they are now drafting protocols so the military assets from other countries can also help in the said initiative. He is already in talks with four countries when it comes to disaster response.

“I have already talked to the Sin -

gaporean Ambassador to marshal their capabilities for airlift and other manpower assistance that they can pitch in,” Teodoro said.

“And then, we are reaching out to Brunei, Indonesia, and Malaysia as the closest neighbors, sir, in addition to the partner nations,” he added.

US assistance through Edca

THE US will be helping the Philippines in its disaster relief efforts for Tropical Storm Kristine through the existing Edca sites where military aircraft can be flown.

The Armed Forces meanwhile will activate multinational coordinating centers should other allies of the Philippine decide to help.

The Armed Forces spokesperson, Col. Francel Margareth Padilla, said: “Humanitarian assistance and disaster relief operations in Batanes are being conducted with collaboration between US forces and the Armed Forces and its reserve forces.”

Edca sites, Padilla said, serve as vital coordination hubs, enabling effective joint efforts and efficient deployment.

“The coordination and execution of these operations are facilitated by the experience gained from previous training exercises,” she added.

Brace for more rains, floods KRISTINE, the 11th weather disturbance to affect the country this year, continues to wreak havoc, particularly in the Bicol Region, where severe floodings were reported and hundreds of families required assistance ranging from rescue and evacuation to relief and medical support.

In its Tropical cyclone Bulletin 13 issued at 5 p.m. Wednesday, the state weather bureau said Kristine has intensified into a Severe Tropical Storm.

The center of eye of storm was spotted 175 kilometers east of Echague, Isabela and is packing maximum sustained winds of 95 kilometers per hour near the center, with gustiness of up to 115 kmh, and central pressure of 980 hPa.

The storm is moving northwestward at 20 kmh. Several areas in Luzon were placed under Tropical Cyclone Wind Signal 3. TCWS 2 is up in Ilocos Norte, the rest of Ilocos Sur, Apayao, the rest of Abra, Cagayan including Babuyan Islands, the rest of Aurora, the rest of Nueva Ecija, Bulacan, Tarlac, Pampanga, Zambales, Bataan, Metro Manila, Cavite, Laguna, Rizal, Quezon including Polillo Islands, Camarines Norte, Camarines Sur, and Catanduanes, while TCWS 1 is up in the rest of Luzon, practically the whole of the

Visayas and parts of Northern Mindanao.

A total of 34 seaports were also affected in Mimaropa, while 4,753 passengers of rolling cargoes, vessels, and motorized bancas were stranded in Region 5 and Region 8

‘Flood Watch’ status

AS of 4:00 p.m. on Wednesday, red flood watch status was hoisted in four of the 18 major river basins – Pampanga, Agno, Bicol, and Cagayan. The same red flood watch status is hoisted for the Angat Subbasin, Ambuklao-Binga-San Roque Subbasin, and the Magat Sub-basin.

At least one gate each of Binga and Magat dam were opened as early as Tuesday morning to release water.

Help from Congress

FOLLOWING the directive of President Marcos, Speaker Ferdinand Martin G. Romualdez announced Wednesday the launch of a large-scale relief operation by the House of Representatives to assist families severely affected by Typhoon Kristine.

Romualdez secured the immediate release of P390 million in cash aid to be distributed across 22 districts in the Bicol Region, Eastern Visayas, and Mimaropa, as well as through four party-list repre -

sentatives.

“President Marcos’ directive is clear: no Filipino family will be left behind in the government’s aid for those hit hard by Typhoon Kristine. This is our commitment to the Filipino people, especially those most affected by this calamity,” Romualdez said.“We are making sure the government’s assistance reaches our affected countrymen as quickly as possible,” added Romualdez.

Compassion for workers

LABOR Secretary Bienvenido Laguesma has called on private sector employers to show greater compassion toward workers affected by the ongoing Typhoon Kristine.

In a text message, Laguesma reminded employers to be mindful of the challenges workers may face during the typhoon.

“My appeal to private sector employers is to be compassionate and understanding on the situation of their workers who might be adversely affected by the typhoon,” the labor secretary said.

Laguesma added that all DOLE issuances, including advisories, would remain valid and must be adhered to by employers.

KMP appeals for Bicol farmers

KILUSANG Magbubukid ng Pilipinas

chairman Danilo Ramos called on the concerned government agencies to come up with an appropriate response and rehabilitation plan amid the onslaught of Tropical Storm Kristine in the agriculture sector. Ramos said that his group has already received reports that vast farmlands in the Bicol region are already submerged due to the heavy rainfall.

According to Ramos, In Polangui alone, about 300 hectares of rice fields across five barangays—Agos, Matacon, Balangibang, Kinale, and Ubaliw—have been submerged. The harvests in these fields, scheduled for November, are at risk. In the previous Typhoon Enteng, 90 to 100 percent of the rice crops in these areas were damaged. The same fate is expected for unharvested crops, not only in these areas but across all affected by the current typhoon.

The towns surrounding Lake Bato and the Bicol River Basin, which serve as catch basins for Albay and Camarines Sur, are also flooded. All areas previously submerged during Typhoon Enteng are once again underwater, with even more locations affected. Jonathan L. Mayuga, Rex Anthony Naval, Samuel Medenilla, Jovee dela Cruz, Justine Xyrah Garcia

Garma provides QuadCom ‘first hand’ insights on Duterte war on drugs, DDS

By Jovee Marie N. dela Cruz

FORMER Philippine Charity Sweepstakes

Office (PCSO) General Manager Royina Garma has disclosed new details about the police reward system for killing drug suspects during the Duterte administration’s war on drugs, while also confirming the existence of the infamous Davao Death Squad (DDS).

In a supplemental affidavit submitted to the House Quad Committee investigating drug-related extra-judicial killings (EJKs) under the previous administration, Garma

provided rare, firsthand insights into the violent mechanisms behind Duterte’s antidrug campaign.

Having served as a police officer in Davao City since 1997, Garma confirmed the existence of the DDS, a group long suspected of carrying out EJKs in Duterte’s hometown. She revealed that while the squad’s operations were an open secret, police officers were discouraged from discussing them openly.

“I became aware of the so-called ‘Davao Death Squad’ through various sources during my assignment in Davao,”

Garma stated in her affidavit. “It was common knowledge among officers that almost all station commanders had special teams designated for specific operations. Although I did not know the identities of these teams, a culture of silence prevailed among police officers in Davao regarding such matters.”

This “culture of silence,” she said, extended to police operations, where little to no oversight was maintained over killings conducted in the name of law enforcement.

In a previous affidavit presented during the October 11 House Quad Committee

hearing, Garma directly implicated former President Rodrigo Duterte in orchestrating a nationwide campaign that resulted in EJKs. The affidavit exposed the alleged reward system that incentivized the killings and detailed the roles of Duterte and his close aide, now Sen. Christopher Go, in managing these operations.

According to Garma, cash rewards for drug-related killings ranged from P20,000 to P1 million, depending on the target.

In her supplemental affidavit dated October 22, Garma shared her personal experiences with the reward system

during her tenure as Station Commander of the Sasa and Sta. Ana police stations from 2012 to 2016. One particular operation in 2012, she recounted, occurred in barangay Malagamot, Davao City, where she learned that a male suspect had been killed following a tipoff from Police Lt. Col. Padua, an intelligence officer working under then-Davao City Police Director Ronald dela Rosa. Hours later, she learned that a male suspect had been killed.

According to Garma, officers received rewards for each successful killing. “From

Garma also recounted the death of

Innovation in the Age of AI

By Henry J. Schumacher

THE topic of artificial intelligence is largely framed negatively in public debate:

Is AI destroying jobs?

Does it undermine societal values? What about misuse?

Is it taking power over humanity?

These are important questions. However, innovators are not only concerned with risks and problems.

The top companies, for example, utilize AI for new entrepreneurial approaches.

The top companies provide insight into how to generate a productivity leap from the apparent threat posed by AI. This new technology creates opportunities for novel products and services as well as significant efficiency gains within processes.

To harness the opportunities of this fundamental change, leadership is needed that serves as a role model and encourages innovation. Clear processes and a deliberate design of the organization are necessary to achieve the required flexibility and creativity. The company’s activities must be supported by a culture that values and fosters innovation, even when experiments fail. Lastly, opportunities for innovation almost always arise outside the company, making the management of the “Open Innovation” interface more crucial than ever.

Neither hype nor hysteria help with implementation, but a sober assessment of opportunities and risks is needed to create an appropriate action plan. How can leaders convince their teams that continuous learning, especially about AI, is a must and can be enjoyable? The conditions are good: A good number of people see AI not only as a replacement for labor but also as a chance to increase job satisfaction. Not in translation of foreign languages or in optimizing supply chains, but especially when AI can take over routine tasks. Now people prefer more demanding activities rather than threats.

However, not everyone is convinced yet. As always, skepticism accompanies new technology. People have often experienced that new technologies and the efficiency gains they bring have benefited companies more than themselves. Looking at the job market, it is clear, that the expectations in the capabilities of employees constantly rise. This concern is

understandable since not too many currently have the necessary skills to handle AI.

So how can leaders alleviate this fear in their team and convince their employees that continuous learning, especially regarding AI, is essential and can be enjoyable?

Those who are engaged in motivating people to learn, know: It’s easy to read about it, but not so easy to implement it in reality - even if the right training opportunities exist.

Continuous learning should no longer be seen as a tedious necessity but should be felt as a pleasure. For that, the environment must be right, and appropriate role models are needed. Those who are open-minded and perhaps see a personal advantage will be more likely to venture into unknown territory when they see that others have already made progress.

The ability to learn will be more than ever a key competence. For this reason, as Accenture CEO Julie Sweet revealed at the World Economic Forum in Davos, that she asks all applicants in interviews: “What have you learned in the past six months?”

She added: What the candidates have learned is irrelevant. It’s only about finding out if someone is curious about learning something new, as that is the prerequisite for transformation.

And how would you have answered that question? would love to receive your answer to that question and whether you are now convinced that continuous learning will get you to the next level. Please email me at hjschumacher59@gmail.com

CeMAP assures ‘more than enough’ cement supply

By Rizal Raoul Reyes

THE

Cement Manufacturers’

Association of the Philippines (CeMAP) recently assured that local cement manufacturers have more than enough capacity to meet the demands of the market, and are poised to deliver ample supply provided that developers actively procure from them as well, according to its top official.

“In terms of capacity, the domestic cement industry has grown from 27 million tons in 2014 to 50 million tons in 2024,” CeMAP President Reinier Dizon said.

This was highlighted at the recent 32nd National Developers Convention held in Davao City and organised by the Subdivision and Housing Developers Association (SHDA) in partnership with the Department of Human Settlements and Urban Development (DHSUD).

In a plenary session on incentives for housing, the national cement industry led by Dizon also focused on promoting local solutions for developers to complete

climate and geological conditions. The measure is also seen to open the door for more widespread patronage of domestic industries, stirring local economy and sustaining Filipino jobs.

their projects efficiently and sustainably.

“Cement is a vital material for house construction and infrastructure,” added Dizon. “The local cement industry can support the SHDA by providing product availability, quality, consistency, freshness, cost savings on logistics, and sustainability.”

With the passing of Republic Act 11981 or the Tatak Pinoy (Proudly Filipino) Act earlier this year, government projects and procurements are encouraged to use locally made materials, which adhere to Philippine national standards and thus are more suited to the country’s

With the theme, “Puy-Anan Para Sa Tanan: Collaborating Towards A Unified Housing Roadmap,” this year’s annual SHDA–DHSUD convention engaged key industry figures from both public and private sectors in helping address the challenges of the housing sector in the Philippines and developing a unified housing roadmap that aims to effectively manage the country’s increasing housing demands. The cement industry is a significant contributor to the economy, accounting for at least 1 percent of the gross domestic product (GDP) and generating an estimated 130,000 direct and indirect jobs. The cement market is expected to grow at a high compound annual growth rate (CAGR) between 2024 and 2031. Demand for residential construction is expected to grow owing to stronger house sales and government initiatives to provide affordable public housing. However, demand for commercial and industrial applications may be affected by a decline in foreign direct investment.

MMDA fields clearing team, search-rescue unit to Bicol

THE Metropolitan Manila Development Authority (MMDA) on Wednesday deployed a 30-man clearing team and and 20-man search and rescue team to assist in areas hit by tropical storm Kristine.

MMDA Chairman Romando Artes said that President Ferdinand R. Marcos Jr. directed them to bring water purifiers to Bicol communities.

Also, the team will bring with them 40 solar-powered water filtration systems, one aluminum boat, two engine-operated rubber boats, 20 small fiberglass boats, 1000 life vests, six chainsaws, modular tents and medicines for leptospirosis.

Besides that, Artes said, the team will clear roads from debris that can impede mobility and accessibility.

Moreover, Artes addressed questions raised on the timing of the assets deployment. He said the agency wanted to ensure first that Metro Manila, which is under its primary jurisdiction, is safe from the typhoon.

“We are also preparing in the event that the NCR (National Capital Region) will be hit by the typhoon, that’s why we decided

to dispatch half of our assets to the Bicol region. The other half is ready to respond in case NCR will be hit by this weather disturbance. We are continuously coordinating and monitoring the situation in the metropolis through advisories released by PAGASA,” he said.

The MMDA is likewise coordinating with the Office of Civil Defense (OCD) which will determine the exact areas where the agency’s contingent and resources will be dispatched.

Food packs from institutional donors will be distributed to affected individuals and are expected to arrive in the Bicol region by Friday morning.

If Metro Manila will not be severely affected, the agency will deploy its remaining resources to the Northern region, in coordination with the OCD.

The MMDA has activated its emergency operations center and has conducted an inventory of assets of the local government units in Metro Manila. Some of them are already prepositioned, particularly in flood-prone areas.

Artes also said that all pumping stations are operational. Claudeth Mocon-Ciriaco

Group to Indonesian prexy: Give Mary Jane clemency

By Samuel P. Medenilla @sam_medenilla

AMIGRANT advocacy

group called on Indonesian President Prabowo Subianto to grant clemency to Mary Jane Veloso, who has been detained in Indonesian for over a decade for a drug-related case.

Migrante International made the appeal after Subianto’s inauguration as Indonesia›s new president during the weekend.

“We appeal to the new president of Indonesia to protect victims of human trafficking and end the 14 years of Mary Jane’s suffering on death row and prison,” Migrante said in a statement.

“It is our hope that President Prabowo will demonstrate compassion and wisdom and set an example of commitment to combating human trafficking in the region of Southeast Asia by granting Mary Jane clemency and immediate release,” it added.

In 2010, Veloso was arrested in an Indonesian airport after

₧124-B investment projects from Jan-Oct 18 get Peza OK

By Andrea E. San Juan @andreasanjuan

THE Philippine Economic Zone Authority (Peza) said it is on track to reach its P200-billion investment goal for the year as it approved P123.72 billion in investments from January to October 18, 2024 on the back of “sustained” confidence in the country’s economic zones.

The P123.72-billion approved investments in the 10-month period this year, however, is a 6.10-percent decline from the P131.76 billion in the same period last year.

Despite the decline in the amount of approved investments in the January to October 18, 2024 period, the investment promotion agency said it approved 198 new projects, surpassing the 169 projects approved in the same period last year.

These projects, Peza noted, are

expected to generate $3.08 billion in export revenues and 40,733 direct jobs.

On October 18, 2024, the Peza Board said it approved P7.87 billion in investments, projected to generate $562.62 million in exports and create 4,862 direct jobs from 19 new and expansion projects.

The projects approved in the first half of the month include 8 projects in manufacturing, 8 in IT, two in ecozone development, and one in ecozone logistics services across Pampanga, Laguna, Cavite, Iloilo, Taguig, Cebu, Muntinlupa, Makati, Batangas, Quezon City, and Tarlac.

These projects involve fabricated metal products, computer programming, commercial printing, electronic products, semiconductor devices, warehousing, transportation support activities, office support, and rubber and plastic products.

The two ecozone development projects approved during the October 18 Board meeting of Peza are the expansion of Light Industry & Science Park IV-Special Economic Zone (LISP IV-SEZ) and the establishment of a pharmaceutical zone in San Miguel, Tarlac City.

The LISP IV-SEZ expansion covers 30.8065 hectares in San Fernando and Luta Sur, Malvar, Batangas, with a project cost of P1.753 billion.

“Land development began in January 2024 and is expected to be completed by December 2026, creating seven direct jobs during operations and 59 indirect jobs during land development,” PEZA added.

Meanwhile, the other ecozone development project is located in Tarlac, the Zen Industrial Pharma Ecozone with a project cost of P81.633 million.

For this ecozone development project, Peza said development will

start in January 2025 and finish by November 2026, creating 34 direct jobs and employing 27 laborers. Moreover, Peza said it will host the drug export manufacturing facility of Lloyd laboratories in partnership with an American pharma company.

“This project aims to elevate the Philippines’ pharmaceutical sector and bolster socioeconomic development, positioning the country as a hub for pharmaceutical manufacturing and research,” said the investment promotion agency.

Peza Director General Tereso O. Panga said the “continued trust” of investors in the Philippines drove the agency to move past halfway of its target.

“Through upcoming investment missions, we aim to exceed our target and further boost the country’s export performance and competitiveness under the President’s vision of Bagong Pilipinas,” Panga said.

Senate hears horror stories of ex-Quiboloy followers

By Butch Fernandez @butchfBM & Malou Talosig-Bartolome

she was caught carrying a luggage with 2.6 kilograms of heroin. She said she was unaware of the content of the luggage when it was handed to her by her recruiters.

She was sentenced to death by an Indonesian court in 2015, but it was deferred indefinitely due to global opposition against it.

Her Filipino recruiters in Nueva Ecija are currently facing humantrafficking charges.

During his state visit to Indonesia in 2022, President Ferdinand Marcos urged former Indonesian President Joko Widodo to grant executive clemency to Veloso.

However, Widodo ended his term without authorizing the release of Veloso.  Migrante called on Marcos to raise the issue in his future talks with Prabowo.

“In future talks with Prabowo, the PH (Philippine) government must demonstrate a sense of urgency and political will to secure Mary Jane’s freedom and bring her home to her family,” it added.

Last of Minoan Courage crew finally repatriated

DESPITE the inclement weather, the 10 remaining Filipino crewmen of the M/V Minoan Courage were finally repatriated on Wednesday, according to the Department of Migrant Workers (DMW).

The last batch of Minoan crew arrived at the Ninoy Aquino International Airport Terminal 3 in Pasay City in the afternoon of 23 October 23 2024, via Etihad Airways Flight 424. They were met by DMW

Seabased Accreditation Bureau Director Augusto San Diego III, Overseas Workers Welfare Administration (OWWA) Director Falconi Millar, and a representative of their manning agency.

The agency assured the repatriated seafarers of aid from the government and their manning agency.

“The concerned manning agency also arranged hotel accommodations for the repatriated seafarers while they await their scheduled psychiatric evaluations. All of them will receive all the necessary assistance from the DMW AKSYON Fund and OWWA (Overseas Worker Welfare Administration),” DMW said in a statement.

M/V Minoan Courage had a total of 21 Filipino crewmen when the Greek bulk carrier was attacked by Houthi rebels on October 1, 2024, while traversing the Red Sea. The government was able to bring home the first batch of the crewmen, composed of seven sailors on October 9.

Another four were repatriated on October 13. Samuel P. Medenilla

KINGDOM of Jesus Christ (KOJC) founder Apollo Quiboloy faced senators for the first time at the public hearing of the Committee on Women, Children, Family Relations and Gender Equality on Wednesday, and heard testimonies of his former members who accused him of presiding over a decades-long pattern of physical abuse and killings, human trafficking and dubious financial fund raisers.

The Regional Trial Court in Pasig City earlier granted the request of committee chairperson, Sen. Anna Theresia “Risa” Hontiveros to allow Quiboloy and his fiveco-accused to attend the Senate hearing, despite work having been partially suspended at the Senate owing to constant rains and floods spawned by Typhoon Kristine.

Quiboloy is accused of committing the crimes of human trafficking and child abuse.

Hontiveros, presiding at the hearing, quizzed the alleged victims of Quiboloy. The victims related how he abused them and other members of the KOJC sexually.

Despite warnings from well-meaning friends not to pursue the case, Hontiveros said she decided to continue with the inquiry owing to disturbing accounts of abuses involving young girls and minors who were reportedly manipulated under the guise of religious devotion.

“We pushed because of the stories I heard of young girls that we heard were being groomed into what he called pastorals, and forced to provide sexual services to this so-called son of God.

“Having sex with Apollo Quiboloy is said to be a way of worshiping the Father, and sacrificing oneself for the Great Creator. We pushed this hearing because of the story of toddlers who are forced to beg on the street and are not educated, so that the self-proclaimed Son of God can buy

helicopters, expensive cars, big houses in different countries,” Hontiveros said in Filipino.

The senator also raised concern about the gaps in the country’s current laws, “particularly in handling religious leaders such as Quiboloy and Señor Agila, who exploited their positions for self-gain.”

“Are our rape laws sufficient to navigate the gray area of consent, sexual agency and religious freedom? Are our labor laws sufficient to address the situation of religious volunteers who are forced to work and are denied benefits such as SSS, PhilHealth and Pag-IBIG?” Hontiveros asked.

Among those who shared with senators their harrowing stories was former KOJC member Teresita Kinanhan Valdehueza, who tearfully narrated the sexual abuses and physical torture she endured under the hands of Quiboloy.

“On September 29, 1999, I decided to leave without asking permission, determined to free myself from his control. Finally, I clearly understood that the man I believed to be chosen and holy, was an impostor, oppressor, and deceiver. He manipulated me using his authority and power as God’s anointed,” Valdehueza told senators.

Davao police regional director Brig. Gen. Nicolas Torre III and Davao Police police chief Col. Hector Marantan also briefed senators on information they gathered regarding the so-called “Angels of Death,” a loose organization operating like a vigilante, and pursuing and killing persons who dare go against KOJC leaders.

Also at the hearing, Majority Leader Francis Tolentino asked everyone to show respect and consideration to all persons present in the hearing, whether accuser or the accused.

Tolentino said the legislature is conducting investigations in the hope of amending the laws, such as the Human Trafficking Act. “Perhaps, the penalties could be increased. But just the same, this hearing is required of us as part of the complexities of

governance that would require us to listen to various voices, even those embroiled in legal challenges and scrutiny,” the majority leader said.

Minority Leader Aquilino Pimentel III encouraged KOJC members who were subjected to “dry fasting” as a punishment for violating KOJC rules to file a complaint against erring leaders. “Where there members who suffered from bad consequences as a result of dry fasting as a form of punishment? If there were, then we should encourage them to complain because this might be a violation of the Revised Penal Code,” Pimentel, a lawyer, said. He said that severity of punishment imposed on its members by a religious or organized group may amount to violation of the Revised Penal Code. Dry fasting refers to a voluntary abstinence of food and all forms of liquids for a certain period of time.

Quiboloy extradition

The Department of Foreign Affairs informed the Senate that the United States has not yet requested for the extradition of Quiboloy.

“I wish to report that as of this date the Department has not received a formal extradition request from the United States,” Foreign Affairs Secretary Enrique Manalo said during the hearing.

The US Federal Bureau of Investigation put Quiboloy on its Most Wanted List after he was indicted by a federal grand jury in the US District Court in Santa Ana, California, on charges of Conspiracy to Engage in Sex Trafficking by Force, Fraud and Coercion, and Sex Trafficking of Children; Sex Trafficking by Force, Fraud, and Coercion; Conspiracy; Bulk Cash Smuggling.

FBI said Quiboloy has been alleged to have participated in a labor trafficking scheme that brought KOJC members to the US using fraudulently obtained visas. KOJC members were also allegedly “forced to solicit donations for a bogus charity, donations that actually were used to finance church operations and the lavish lifestyles of its leaders.”

Comelec to file misrepresentation case vs. Guo

By Justine Xyrah Garcia

HE Commission on Elections an -

Tnounced on Wednesday that it will soon file formal charges of misrepresentation against dismissed Bamban, Tarlac mayor Alice Guo for allegedly violating Section 74 of the Omnibus Election Code. The case, which should be filed in the Regional Trial Court (RTC) of Tarlac, accuses Guo of lying about her citizenship and residency in her certificate of candidacy for the 2022 mayoral elections.

In an interview, Comelec Chairman George Garcia said that the poll body has not received any motion for reconsideration (MR) from the ex-mayor’s legal camp.

“Based on our records, former mayor Guo did not file a MR, thus our law department is now preparing the information to file at the [RTC],” he said in Filipino.

Earlier this month, the Comelec issued a resolution stating that its investigation concluded that Guo and Hua Ping Lin Guo, a Chinese citizen, are just the same person.

Aside from filing a misrepresentation case against the dismissed official, Garcia said that the Comelec will also file a motion to transfer the trial venue from Tarlac to Metro Manila.

The poll chief explained that he wants to ensure the “safety and security” of all parties involved.

“It would be better if it’s here in Metro

Manila. At least the accused is already in custody here,” Garcia added.

The formal complaint against Guo—who is currently detained in Pasig City Jail—is expected to be filed on or before Monday.

TRO on disqualification cases

MEANWHILE Garcia said that the Comelec respects the Supreme Court’s decision to halt the poll body’s implementation of Resolution No. 11044-A, which disqualifies a dismissed official from running for office despite pending appeal.

“The commission respects and will abide by the temporary restraining order (TRO) issued by the Supreme Court,” Garcia explained.

“It is alleged that females were recruited to work as personal assistants, or ‘pastorals,’ for Quiboloy and that victims prepared his meals, cleaned his residences, gave him massages and were required to have sex with Quiboloy in what the pastorals called ‘night duty’,” the FBI poster on Quiboloy reads.

The so-called “Appointed Son of God” is also facing charges before the regional trial courts in Pasig and Quezon cities for human trafficking and sexual abuses.

Committee member Tolentino asked Manalo what the DFA would do if the US finally requested for Quiboloy’s extradition. “In the event that we receive a formal extradition request, just to say if we do receive a formal request, the DFA will of course study it and see if it is consistent with the agreed procedure pertaining to extradition,” Manalo said.

If the DFA is “satisfied” with the documents presented by the US, then it would refer the extradition request to the Department of Justice for relevant action.

Under the Philippine-US Extradition Treaty, both countries agree to extradite persons who are facing charges or have been convicted of an offense that is punishable under the laws of both parties by a prison term of at least one year. The requested party may only deny the extradition request if the offense is punishable by death in the requesting state. Manalo also informed the Senate committee that neither the Philippine Embassy nor Philippine consulates in the US have received any complaints from supposed victims of human trafficking from KOJC members.

“The DFA is ready to assist in providing any information that we may receive from this date relevant to the to today’s legislative inquiry,” Manalo said.

DFA Undersecretary Jesus Domingo said there are also “informal consultations and communications” with other government agencies about the case of KOJC founder.

“We believe that based on the petitioners’ allegations, they have vested rights that will be affected, and they have an urgent need to stop the implementation of the resolution,” he added.

On Tuesday, the High Court issued a TRO after consolidating the separate petitions of political hopefuls Jonas Cortez of Mandaue City, Noel Rosal of Legazpi City, and Michael Rama of Cebu City against Comelec. SC also requires the poll body to respond to the petitions within a non-extendible period of 10 days upon receiving notice. With this order, Garcia said that more than 100 similarly situated disqualification cases are bound to be affected.

“Honestly, the Comelec was ready to release a resolution removing those with perpetual disqualification. This TRO from the Supreme Court came at just the right time,” the poll chief said.

The World

Air raid sirens sound across Tel Aviv as projectiles from Lebanon are intercepted near Blinken’s hotel

By The Associated Press

TEL AVIV, Israel—Air raid

sirens echoed across Tel Aviv on Wednesday as US Secretary of State Antony Blinken prepared to depart from his hotel to the airport.

The Israeli military said it intercepted two projectiles fired from Lebanon. There were no immediate reports of casualties or damage. Smoke, apparently from one of the interceptions, could be seen in the sky above the hotel where Blinken was staying.

He is on his 11th visit to the region since the outbreak of the war between Israel and Hamas in Gaza, hoping to renew cease-fire efforts after the killing of top Hamas leader Yahya Sinwar. Blinken said Israel needs to pursue an “enduring strategic success” after its recent tactical victories against Hamas, urging it to seek a deal to end the war and bring back dozens of hostages before leaving for Saudi Arabia, as part of his 11th visit to the region since the start of the Israel-Hamas war. But both sides appear to be dug in. Netanyahu has pledged to annihilate Hamas and recover dozens of hostages held by the group. Hamas says it will only release the captives in return for a lasting cease-fire, a full Israeli withdrawal from Gaza and the release of Palestinian prisoners.

On October 7, 2023, Hamas-led militants blew holes in Israel’s security fence and stormed in, killing some 1,200 people—mostly civilians—and abducting another 250. Israel’s offensive in Gaza has killed over 42,000 Palestinians, according to local health authorities, who do not differentiate between militants and civilians. The war has

destroyed large areas of Gaza and displaced about 90 percent of its population of 2.3 million people.

Blinken, who met with Prime Minister Benjamin Netanyahu and other top officials on Tuesday, said he had pressed Israel to allow more humanitarian aid into Gaza and reiterated his warning that failure to do so could lead to a reduction in US military aid.

“There’s progress made, which is good, but more progress needs to be made,” on that front, he said.

Israel says it killed Hezbollah official expected to become next leader

BEIRUT—Israel said Tuesday that one of its airstrikes outside Beirut earlier this month killed a Hezbollah official widely expected to have replaced the militant group’s longtime leader, who was killed by an Israeli airstrike last month.

There was no immediate confirmation from Hezbollah about the fate of Hashem Safieddine, a powerful cleric who was expected to succeed Hassan Nasrallah, one of the group’s founders.

Safieddine was killed in early October in a strike that also killed 25 other Hezbollah leaders, according to Israel, whose airstrikes in southern Lebanon in recent months have killed many of Hezbollah’s top leaders, leaving the group in disarray.

Last week, Israel killed the top leader of Hamas, Yahya Sinwar, during a battle in Gaza.

US Secretary of State Antony Blinken said during a trip to Israel that leaders there should “capitalize” on Sinwar’s death as an opportunity to end the war in Gaza and secure the release of hostages taken during the deadly Hamas attack that started the war. Blinken also stressed the need for Israel to do more to help increase the flow of humanitarian aid to Palestinians.

Prime Minister Benjamin Netanyahu’s office called his meeting with Blinken, which lasted more than two hours, “friendly and productive.”

The Beirut suburb where Safieddine was killed was pummeled by fresh airstrikes Tuesday, including one that leveled a building Israel said housed Hezbollah facilities. The collapse sent smoke and debris flying into the air a few hundred meters (yards) from where a spokesperson for Hezbollah had just briefed journalists about a weekend drone attack that damaged Netanyahu’s house.

Tuesday’s airstrikes came 40 minutes after Israel issued an evacuation warning for two buildings in the area that it said were used by Hezbollah. The Hezbollah news conference nearby was cut short, and an Associated Press photographer captured an image of a mis -

sile heading towards the building moments before it was destroyed. There were no immediate reports of casualties.

Hezbollah’s chief spokesman, Mohammed Afif, said the group was behind the Saturday drone attack on Netanyahu’s home in the coastal town of Caesarea. Israel has said neither the prime minister nor his wife were home at the time.

Blinken’s meetings with Netanyahu and other Israeli leaders was part of his 11th visit to the region since the outbreak of the IsraelHamas war. He landed hours after Hezbollah launched a barrage of rockets into central Israel, setting off air raid sirens in populated areas and at its international airport, but causing no apparent damage or injuries.

Hospitals in Lebanon fear being targeted by Israel

AN Israeli airstrike late Monday in Beirut destroyed several buildings across the street from the country’s largest public hospital, killing 18 people and wounding at least 60 others. The Israeli military said it struck a Hezbollah target, without elaborating, and said that it hadn’t targeted the hospital itself.

AP reporters visited the Rafik

Hariri University Hospital on Tuesday. They saw broken windows in the hospital’s pharmacy and dialysis center, which was full of patients at the time.

Staff at another Beirut hospital feared it would be targeted after Israel alleged that Hezbollah had stashed hundreds of millions of dollars in cash and gold in its basement, without providing evidence.

The director of the Sahel General Hospital denied the allegations and invited journalists to visit the hospital and its two underground floors on Tuesday. AP reporters saw no sign of militants or anything out of the ordinary.

The few remaining patients had been evacuated after the Israeli military’s announcement the night before.

“We have been living in terror for the last 24 hours,” hospital director Mazen Alame said. “There is nothing under the hospital.”

Many in Lebanon fear Israel could target its hospitals in the same way it has raided medical facilities across Gaza. The Israeli military has accused Hamas and other militants of using hospitals for military purposes, allegations denied by medical staff.

Lebanon’s Health Ministry said Tuesday that 63 people have been killed over the past 24 hours, raising the death toll over the past year of conflict between Israel and Hezbollah to 2,546. Three Israeli soldiers were killed on Tuesday, one in Gaza, one in Lebanon, and one in a rocket attack in northern Israel, according to the military.

Blinken trying to restart efforts to reach a cease-fire in Gaza DURING his meeting with Netanyahu and other Israeli leaders, Blinken underscored the need for a dramatic increase in the amount of humanitarian aid reaching Gaza, according to US State Department spokesperson Matthew Miller. The need for more aid in Gaza is something Blinken and US Defense Secretary Lloyd Austin made clear in a

letter to Israeli officials last week.

Miller said Blinken also stressed the importance of ending the fighting between Israel and Hezbollah, which escalated earlier this month when Israel began a ground invasion of southern Lebanon. 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 halted in August. Hamas says its demands haven’t changed following the killing of Sinwar.

Israel said it invaded Lebanon to try to stop near daily rocket attacks from Hezbollah since the start of the war in Gaza. Israel has said it plans to strike Iran—which backs both Hamas and Hezbollah—in response to its ballistic missile attack on Israel earlier this month.

War rages in Lebanon and northern Gaza 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 Nasrallah and most of his senior commanders.

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 thousands of rockets, missiles and drones into Israel over the past year, including some that have reached the country’s populous center.

Sarah El Deeb, Farnoush Amiri reported from Beirut. Kareem Chehayeb, Sally Abou AlJoud and Bassem Mroue in Beirut and Melanie Lidman and Tia Goldenberg in Tel Aviv contributed to this report.

It could take 350 years for Gaza to rebuild if it remains under a blockade, UN report says

By Joseph Krauss The Associated Press

UNITED Nations agencies have long warned that it could take decades to rebuild Gaza after Israel’s offensive against Hamas, one of the deadliest and most destructive military campaigns since World War II. Now, more than a year into the war, a new report speaks in terms of centuries.

The UN Conference on Trade and Development said in a report released Monday that if the war ends tomorrow and Gaza returns to the status quo before Hamas’ October 7, 2023, attack on Israel, it could take 350 years for its battered economy to return to its precarious prewar level.

Before the war, Gaza was under an Israeli and Egyptian blockade imposed after Hamas seized power in 2007. Four previous wars and divisions between Hamas and the Western-backed Palestinian Authority in the West Bank also took a toll on Gaza’s economy.

The current war has caused staggering destruction across the territory, with entire neighborhoods obliterated and roads and critical infrastructure in ruins. Mountains of rubble laced with decomposing bodies and unexploded ordnance would have to be cleared before rebuilding could begin.

“Once a ceasefire is reached, a return to the pre-October 2023 status quo would not put Gaza on the path needed for recovery and sustainable development,” the report said. “If the 2007–2022 growth trend returns, with an average growth rate of 0.4 percent, it will take Gaza 350 years just to restore the GDP levels of 2022.” Even then, GDP per capita would decline “continuously and precipitously” as the population grows, it said. Israel says the blockade is needed to prevent Hamas from importing arms and blames the militant group for Gaza’s plight. “There is no future for the people of Gaza as long as their people continue to be occupied by Hamas,” Israel’s ambassador to the UN, Danny Danon, said in response to the report.

350 years is more of a calculation than a prediction THREE hundred and fifty years is a long time. It would be as though England and the Netherlands were only now recovering from the wars they fought against each other in the late 1600s.

Rami Alazzeh, author of the report, said he based the calculation on the decimation of the economy during the first seven months of the war, and how long it would take to restore it at the GDP growth rate Gaza averaged from 2007 until

2022. Gross domestic product, or GDP, is the sum total of all goods and services produced in a country or territory.

“The message is the recovery in Gaza depends on the conditions in which the recovery would happen,” he said. “We’re not saying that it will take Gaza 350 years to recover because that means that Gaza will never recover.”

At the end of January, the World Bank estimated $18.5 billion of damage—nearly the combined economic output of the West Bank and Gaza in 2022. That was before some intensely destructive Israeli ground operations, including in the southern

border city of Rafah.

A UN assessment in September based on satellite footage found roughly a quarter of all structures in Gaza had been destroyed or severely damaged. It said around 66 percent of structures, including more than 227,000 housing units, had sustained at least some damage.

Even in best-case circumstances, recovery could take decades

THE report says that even under the most optimistic scenario, with a projected growth rate of 10 percent, Gaza’s recovery would still take decades.

“Assuming no military operation, and freedom of movement of goods and people and a significant level of investment, and population growth of 2.8 percent per year, UNCTAD estimates that Gaza’s GDP per capita will return to its 2022 level by 2050,” it said.

A separate report released Tuesday by the UN Development Program said that with major investment and the lifting of economic restrictions, the Palestinian economy as a whole, including the West Bank, could be back on track by 2034. In the absence of both, its predictions align with those of UNCTAD.

The more positive scenarios appear unlikely.

Hamas-led militants killed some 1,200 people, mostly civilians, and abducted another 250 when they stormed into southern Israel on October 7, 2023.

Around 100 hostages are still inside Gaza, a third of whom are believed to be dead.

The Shelter Cluster, an international coalition of aid providers led by the Norwegian Refugee Council, calculated how long it would take to rebuild all the destroyed homes under what was known as the Gaza Reconstruction Mechanism. That process was established after the 2014 war to facilitate some reconstruction under heavy Israeli surveillance. It found that under that setup, it would take 40 years to rebuild all the homes.

Israel’s offensive has killed over 42,000 Palestinians, according to local health officials, who don’t distinguish combatants from civilians but say more than half the dead are women and children. It has displaced around 90 percent of Gaza’s population of 2.3 million, forcing hundreds of thousands into squalid tent camps.

Israel is unlikely to lift the blockade as long as Hamas has a presence inside Gaza. Prime Minister Benjamin Netanyahu has said Israel will maintain open-ended security control over the territory.

Since May, Israel has controlled all of Gaza’s border crossings. UN agencies and humanitarian groups say they have struggled to bring in food and emergency aid because of Israeli restrictions, ongoing fighting and the breakdown of law and order inside Gaza.

There’s also no indication that international donors are willing to fund the rebuilding of Gaza as long as it remains in the grip of war or under Israeli occupation. Arab Gulf states like Saudi Arabia and the United Arab Emirates have said they will only do so if there is a pathway to a Palestinian state, something to which Netanyahu is deeply opposed. Meanwhile, the war rages with no end in sight.

DESTROYED buildings

US Secretary of State Antony Blinken, left, meets with Israel’s President Isaac Herzog in Tel Aviv on Tuesday, October 22, 2024.

Thursday, October 24, 2024 A7

Financial cooperation and BRICS expansion on the table as Putin hosts global leaders

KAZAN, Russia—Russia’s

President Vladimir Putin on Wednesday hosted China’s Xi Jinping, India’s Narendra Modi and other world leaders at a summit of the BRICS bloc of developing economies, part of the Kremlin’s efforts to challenge Western global clout.

Speaking at the start of Wednesday’s BRICS meeting, Putin named the deepening of cooperation in the financial sector as part of its agenda. He said participants were also set to discuss a range of international issues including the settlement of regional conflicts, along with the expansion of the BRICS group of countries.

“BRICS strategy on the global arena conforms with the strivings of the main part of the global community, the so-called global majority,” Putin said.

The alliance that initially included Brazil, Russia, India, China and South Africa has expanded to embrace Iran, Egypt, Ethiopia, the United Arab Emirates and Saudi Arabia. Turkey, Azerbaijan and Malaysia have formally applied to become members, and several others have expressed interest in joining.

The three-day summit in the city of Kazan was attended by 36 countries, highlighting the failure of USled efforts to isolate Russia over its actions in Ukraine. The Kremlin touted the summit as “the largest foreign policy event ever held” by Russia.

The Kremlin has cast BRICS as a counterbalance to the Western-dominated global order and redoubled its efforts to court the countries of the Global South after sending troops into Ukraine in February 2022.

Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network SWIFT and allow Moscow to dodge Western sanctions and trade with partners.

Putin, who is set to hold more than a dozen bilateral meetings on the sidelines, conferred with Xi, Modi and South African President Cyril Ramaphosa on Tuesday ahead of the summit’s opening.

Xi and Putin announced a “no-limits” partnership weeks before Russia invaded Ukraine in 2022. They already met twice this year, in Beijing in May and at a Shanghai Cooperation Organization summit in Kazakhstan in July.

During Tuesday’s meeting with Xi, Putin described the relations between Moscow and Beijing as “one of the main stabilizing factors on the world arena.” He vowed to “expand coordination on all multilateral forums for the sake of global stability and a fair world order.”

“Amid tectonic transformations unseen for centuries, the international situation is undergoing serious changes and upheavals,” Xi said, hailing the “unprecedented character” of Russia-China ties.

Russia’s cooperation with India has also flourished as New Delhi sees Moscow as a time-tested partner since Cold War times despite Russia’s close ties with India’s main rival, China.

Western allies want India to be more active in persuading Moscow to end the war in Ukraine, but Modi has avoided condemning Russia while emphasizing a peaceful settlement. “We fully support the quickest establishment of peace and stability,” said Modi, who last visited Russia in July.

On Thursday, Putin is also set to meet with United Nations Secretary-General Antonio Guterres, who will be making his first visit to Russia in more than two years. Guterres has repeatedly criticized Russia’s actions in Ukraine.

FROM left, Indian Prime Minister Narendra Modi, Russian President Vladimir Putin and Chinese President Xi Jinping attend a family photo ceremony prior to the BRICS Summit plenary session in Kazan, Russia on Wednesday, October 23, 2024. AP/ALEXANDER ZEMLIANICHENKO

October 24, 2024

The World

Inflation fight won, global economic growth faces new challenges–IMF

By Paul Wiseman Ap Economics Writer

WASHINGTON—The

global war against inflation has largely been won—and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday.

In its latest assessment of the global economy, the IMF predicted that worldwide inflation will cool from 6.7 percent last year to 5.8 percent this year and to 4.3 percent in 2025. It estimates that inflation will fall even faster in the world’s wealthy countries, from 4.6 percent last year to 2.6 percent this year and 2 percent—the target range for most major central banks—in 2025.

The slowdown in inflation, after years of crushing price increases in the aftermath of the pandemic, led the Federal Reserve

and the European Central Bank to cut interest rates this year after they had aggressively raised them to try to tame inflation.

“The battle against inflation is almost won,” Pierre-Olivier Gourinchas, the IMF’s chief economist, told reporters Tuesday. “In most countries, inflation is hovering close to central bank targets.” Inflation had accelerated when the world economy recovered with unexpected speed from the Covid-19 recession, leaving factories, freight yards, ports and businesses overwhelmed with customer or -

ders and creating shortages, delays and higher prices. The high borrowing rates engineered by major central banks, along with the end of supply chain logjams, brought inflation dramatically down from the four-decade highs it hit in mid-2022.

And to the surprise of forecasters, the economy—especially the largest, in the United States— continued to grow and employers kept hiring despite higher borrowing costs.

“The decline in inflation without a global recession is a major achievement,’’ Gourinchas wrote in a blog post that accompanied the IMF’s latest World Economic Outlook.

The IMF, a 190-nation lending organization, works to promote economic growth and financial stability and reduce global poverty. On Tuesday, besides sketching a milder inflation outlook, it upgraded its economic expectations for the United States this year, while lowering its estimates for growth in Europe and China. The IMF left its forecast for global growth unchanged at a relatively lackluster 3.2 percent for 2024.

The IMF expects the US econo -

Yellen touts US economic growth, rejects isolationism in speech to finance leaders

By Fatima Hussein The Associated Press

my to expand 2.8 percent this year, down slightly from 2.9 percent in 2023 but an improvement on the 2.6 percent it had forecast for 2024 back in July. Growth in the United States has been led by strong consumer spending, fueled by healthy gains in inflation-adjusted wages.

Next year, though, the IMF expects the US economy to decelerate to 2.2 percent growth. With a new presidential administration and Congress in place, the IMF envisions the nation’s job market losing some momentum in 2025 as the government begins seeking to curb huge budget deficits by slowing spending, raising taxes or some combination of both.

The IMF expects China’s economic growth to slow from 5.2 percent last year to 4.8 percent this year and 4.5 percent in 2025. The world’s No. 2 economy has been hobbled by a collapse in its housing market and by weak consumer confidence—problems only partly offset by strong exports.

The 20 European countries that share the euro currency are collectively expected to eke out 0.8 percent growth this year, twice the 2023 expansion of 0.4 percent but a slight downgrade from the 0.9 percent the IMF had forecast three months ago for 2024. The German economy, hurt by a slump in manufacturing and real estate, isn’t expected to grow at all this year.

Now that interest rates are coming down and likely to aid the world’s economies, the IMF warned, the need to contain enormous government deficits will likely put a brake on growth. The overall world economy is expected to grow 3.2 percent in both 2024 and 2025, down a tick from 3.3 percent last year. That’s an unimpressive standard: From 2000 through 2019, before the pandemic upended economic activity, global growth had averaged 3.8 percent a year.

The IMF also continues to express concern that geopolitical tension, including antagonism between the United States and China, could make world trade less efficient. The concern is that more countries would increasingly do business with their allies instead of seeking the lowest-priced or best-made foreign goods. Still, global trade, measured by volume, is expected to grow 3.1 percent this year and 3.4 percent in 2025, improving on 2023’s anemic 0.8 percent increase.

Gourinchas also suggested that economic growth could end up being weaker than expected if countries take steps to reduce immigration, which has helped ease labor shortages in the United States and other advanced economies. And he said armed conflicts, like those in Ukraine and the Middle East, could also threaten the economic outlook.

India’s economy is expected to grow 7 percent this year and 6.5 percent in 2025. While still strong, that pace would be down from 8.2 percent growth last year, a result of consumers slowing their spending after a post-pandemic boom.

The IMF predicts that Japan’s economy, hurt by production problems in the auto industry and a slowdown in tourism, will expand by a meager 0.3 percent this year before accelerating to 1.1 percent growth in 2025.

The United Kingdom is projected to register 1.1 percent growth this year, up from a dismal 0.3 percent in 2023, with falling interest rates helping spur stronger consumer spending.

WASHINGTON—Treasury Secretary Janet Yellen told world financial leaders Tuesday that the US economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the US election.

Yellen opened the IMF and World Bank annual meetings by highlighting US economic growth since the nation was in the grips of the Covid-19 pandemic. Without mentioning Trump by name, she said in a speech that the Biden administration had ended a period of international isolationism that “made America and the world worse off.”

“We went from millions having lost their jobs to a historic labor market recovery,” Yellen said. She said US economic growth has been “almost twice as fast as most other advanced economies this year and last, even as inflation came down sooner.”

The IMF released its international outlook on the global economy on Tuesday morning and upgraded its economic outlook for the United States this year while lowering its expectations for growth in Europe and China.

The IMF expects the US economy—the world’s largest—to expand 2.8 percent this year, down slightly from 2.9 percent in 2023 but an improvement on the 2.6 percent it had forecast for 2024 back in July. Growth in the United States has been led by strong consumer spending, fueled by healthy gains in inflation-adjusted wages.

The meetings mark the last major international finance gathering held during the Biden administration and come as economic issues are a top concern for American voters. Republicans have blamed the Biden-Harris administration for inflation that reached a 40-year high before dropping. Trump campaign press secretary Karoline Leavitt said in a statement that the Biden-Harris administration “created an inflation crisis, record-high gas prices, skyrocketing mortgage and interest rates resulting in the lowest consumer and small business confidence in decades.”

Voters remain largely divided over

whether they prefer the Republican nominee, Trump, or Democratic nominee Vice President Kamala Harris to handle key economic issues, according to an October survey by The Associated Press-NORC Center for Public Affairs Research. Who wins the US election will also have enormous impacts on global finance and the world’s economy.

Trump and Harris have spoken little about their plans for the International Monetary Fund and the World Bank. But they have differing views on trade, tariffs and other economic issues. Trump has been skeptical of world financial bodies and is promising heavy tariffs if elected. Harris is more likely to continue the Biden administration approach favoring international cooperation over threats, though she has supported some tariffs.

Yellen, like other federal officials, is barred from partisan political activity by the Hatch Act and chose her words carefully in her speech. But she praised Biden-Harris initiatives on climate, health care, infrastructure spending and other areas.

She alluded to Trump’s international leadership saying: “From day one, we rejected isolationism that made America and the world worse off and pursued global economic leadership that supports economies around the world and brings significant benefits to the American people and the US economy.” Trump, who has embraced isolationism and criticized multilateral institutions, promises as president to impose a 60 percent tariff on all Chinese goods and a “universal’’ tariff of 10 percent or 20 percent on everything else that enters the United States, insisting that the cost of taxing imported goods is absorbed by the foreign countries that produce those goods.

Mainstream economists say that would amount to a tax on American consumers that would make the economy less efficient and send inflation surging in the United States.

The Biden-Harris administration has not eliminated tariffs imposed on China during the Trump administration and in May also slapped major tariffs on Chinese electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment.

Russia and Iran may fuel violent post-election protests in the US, intelligence officials warn

By David Klepper The Associated Press

WASHINGTON—Russia and Iran may try to encourage violent protests in the US after next month’s election, senior intelligence officials warned Tuesday in a declassified memo, citing two recent examples of foreign intelligence agencies seeking to sow discord ahead of the vote.

The memo, released Tuesday by the Office of the Director of National Intelligence, said both countries could support violent protests either by covertly organizing events themselves or by encouraging participation in those planned by domestic groups. The aim, the officials wrote, would be to increase division, cast doubt on election results and complicate the transfer of presidential power.

In January, Russian military intelligence tried to recruit an American to organize protests in the US, according to a declassified national intelligence memo released publicly Tuesday. The American was “probably unwitting” and did not know he was in contact with Russian agents, the memo said.

The US first accused the Iranian government of covertly supporting protests against American support for Israel during the war in Gaza. Individuals linked to Iran offered to cover the cost of travel to protests this year in Washington, the memo said.

The risk that one of America’s adversaries could encourage political violence after the election is greater this year, officials said, because officials in both nations now have a better understanding of the complicated process the US uses to certify the vote.

The Jan. 6, 2021 attack on the US Capitol by Trump supporters also highlighted just how easily false and misleading claims about election results can trigger deadly real-world action.

The period between Election Day and

the inauguration of the new president poses special risks as foreign adversaries and domestic extremists could seek to disrupt election certification by exploiting misleading claims or innocent irregularities. Concerns about safety already have prompted election workers in some communities to install bulletproof glass and panic buttons because of the risk of election-related incidents.

Fears of political violence have grown amid concerns about widening polarization and growing distrust, a trend America’s adversaries have tried to accelerate by using online disinformation and propaganda. Besides hoping to shape the outcome of the election, officials say Russia and Iran—as well as China—want to undermine American unity by spreading false and misleading claims about elections, voting and hot-button issues like immigration, the economy or the federal response to recent hurricanes.

For Russia, which aims to erode support for Ukraine, that means favoring former President Donald Trump, who has praised Russian President Vladimir Putin and criticized the NATO alliance. Iran, meanwhile, has sought to hurt Trump’s campaign through disinformation and by hacking into its campaign emails. Trump’s administration ended a nuclear deal with Iran, reimposed sanctions and ordered the killing of Iranian Gen. Qassem Soleimani, an act that prompted Iran’s leaders to vow revenge.

Russia will likely try to foment protests in the US regardless of who wins the White House, according to an official with the Office of the Director of National Intelligence, who briefed reporters Tuesday on the condition of anonymity under rules set out by the office of the director. Officials said they expect Russia’s response will be more aggressive, however, if Harris defeats Trump.

PHL rice output to fall below 20MMT this year

TBy Ada Pelonia @adapelonia

HE country’s unmilled rice production could fall below 20 million metric tons (MMT) by the end of the year due to El Niño and storms that struck plantations, according to the Department of Agriculture (DA).

The DA said the Philippines may end 2024 with a palay output of 19.41 MMT, 3.24 percent lower than the record 20.06 MMT it produced last year. The projected 2024 palay output is equivalent to 12.69 MMT in milled terms.

production drop.”

Citing data from the Philippine Statistics Authority (PSA), the DA said palay production is projected to decline by 11.9 percent to 3.35 MMT in the third quarter due to crop damage exacerbated by recent typhoons.

“The decrease in production would have been higher were it not for higher production yield due to better seeds, farm equipment, and other support provided through the Rice Fund under the Rice Tariffication Law [RTL] and National Rice Program.”

population.”

Agriculture Assistant Secretary Arnel de Mesa had said that the damage sustained by the agriculture sector due to the combined effects of El Niño and the recent weather disturbances has reached P23 billion. (See: https://businessmirror.com. ph/2024/09/05/farm-damagefrom-el-nino-storms-now-atp23b-da/)

Despite this, Morales said the national rice supply would still be “robust,” with 3.57 MMT of imported rice having arrived in the country as of October 14, some 24 percent lower than last year’s level.

“The recent cut in tariff rates

DA Undersecretary Christopher Morales said the agency sees losses of 358,000 metric tons (MT) based on historical damages and actual risks this quarter.

further incentivized imports, allowing for greater access to global rice markets and mitigating potential shortages.”

According to the DA official, the Philippines is expected to have 3.83 MMT of rice supply by

yearend, which can feed the nation for 100 days.

“This projection incorporates updated rice stock data, actual import arrivals, and historical trends, ensuring the country’s rice needs are met despite the

Manila wants to use coco oil for sustainable aviation fuel

THE Philippine Coconut Authority (PCA) and Japanbased Manryu Co. Ltd. will explore the use of coconut oil as primary feedstock in the production of sustainable aviation fuel (SAF).

PCA said it signed a memorandum of understanding (MOU) with Manryu. The agreement, according to the attached agency of the Department of Agriculture, marked a “strategic partnership” to explore the production of SAF using coconut oil as the primary feedstock.

“The partnership aims to establish the Philippines as a leader in SAF production, leveraging Manryu’s innovative proprietary

Maeda Method for biodiesel and SAF manufacturing, which promises enhanced safety features and cost-efficient production,” the PCA said.

“It optimizes the use of coconut oil, one of the country’s most abundant agricultural resources, in the production of biofuels, thus encouraging environmental sustainability and reducing reliance on traditional fossil fuels.”

According to the agency, the agreement would maximize joint research and development between PCA’s Research and Development Branch (RDB) and Manryu, which would center on conducting trials at PCA’s facilities to test the viability of the method in

producing SAF.

“The method’s potential to lower production costs while maintaining safety and efficiency is expected to drive the commercialization of SAF in the Philippines, ushering the country as a pioneer in sustainable aviation fuel production in the Asean region.”

Under the MOU, the PCA would provide access to its research facilities and high-quality coconut oil, while Manryu would supply its cutting-edge technology and equipment for SAF and biodiesel production.

It added that both organizations would jointly conduct research, experiments, and testing to refine the process and ensure it

meets global standards for aviation fuel.

This would also create employment opportunities, reduce carbon emissions, and open doors for further collaboration with stakeholders in the aviation and energy sectors.

“This venture sets the country as a leader in SAF production, contributing to global efforts to reduce greenhouse gas emissions and combat climate change,” the PCA said.

“As the world looks toward more sustainable energy sources, the PCA and Manryu Co., Ltd. are taking a bold step forward, wielding the power of coconut oil to fuel the skies of tomorrow.” Ada Pelonia

Vaccination program to include commercial hog farms—DA

THE Department of Agriculture (DA) will include commercial farms and swine herds under its hog repopulation program for the controlled vaccination against African swine fever (ASF) to fasttrack its implementation following the low turnout from backyard raisers.

Agriculture Secretary Francisco Tiu Laurel Jr. signed Administrative Circular (AC) 8, which indicated the need to expedite the vaccination program due to the low participation rate of smallhold farms.

The commercial farms and swine herds covered by the Integrated National Swine Production Initiatives for Recovery and Expansion (Inspire) Program would now be included in the controlled inoculation, based on the circular.

The DA initially prioritized the vaccination of healthy animals in smallhold farms located in ASF-negative barangays within designated red zones and cities or municipalities under pink zones.

“To effectively increase the vaccination rate, achieve the desired coverage, and facilitate the assessment of the vaccine’s efficacy for ASF prevention and control, there is an urgent need to fast-track the implementation of the ASF vaccination program, particularly for commercial farms and swine populations under the INSPIRE Program,” AC 8 read.

Under the circular, commercial farms interested in participating in the vaccination program should submit a letter of intent to the DA regional field office.

The participating commercial farms should also allow authorized personnel from the Burea of Animal Industry (BAI) and the provincial veterinary office to conduct an inspection on the farm. This would assess the farm’s biosecurity measures and its readiness to implement the vaccination program.

It also noted that the commercial farms’ licensed veterinarian may collect and submit blood samples from eight percent of the pig population for testing against ASF.

“Only farms with negative test results for ASF shall be eligible to receive ASF vaccine allocation,” the circular read, noting that the vaccine should only be administered to grower pigs.

The DA said the commercial farm should submit regular reports

on the progress of the vaccination program, including the number of pigs vaccinated, sample collection details, test results, and any observed adverse events.

“The farm shall grant DA- RFO and Provincial Veterinary personnel access to conduct monitoring activities. All such activities shall be performed in accordance with the biosecurity protocols of the farm.”

The Inspire program and the Bantay ASF sa Barangay aim to help hog farms repopulate and recover through community clustering, distribution of piglets, and firming up of biosecurity management.

Figures from the BAI showed that 505 barangays have active ASF cases as of October 18. Ada Pelonia

The DA said experts believe that the combination of imports and proactive management of domestic production would help ensure that the Philippines “remains resilient in the face of climatic challenges.”

“The government continues to monitor the situation closely, aiming to stabilize prices and maintain food security for the

THE Philippines and Lao People’s Democratic Republic (PDR) are looking at establishing a joint genetic bank for rice development in their bid to promote innovation in crop cultivation.

The initiative to establish this genetic bank would be contained in a Memorandum of Understanding (MOU) set to be signed by Agriculture Secretary Francisco Tiu Laurel Jr. and Lao PDR’s Minister of Agriculture and Forestry Linkham Douangsavanh next year.

“The proposed agreement marks a significant step forward in strengthening agricultural cooperation with our ASEAN partner, Lao PDR,” Laurel said.

“It will provide a framework for collaboration on a wide range of agricultural issues.”

Other key initiatives were also outlined in the MOU, such as enhancing the value chains for various agricultural products, including rice, corn, coffee, fruit trees, tea, livestock, and fisheries and implementing best practices for efficient water usage in agriculture.

Joint efforts to tackle agricultural challenges through shared research initiatives and prioritizing effective pest control practices to safeguard crops were also included in the agreement.

The DA said the Southeast Asian countries plan to develop strategies to address the impacts of climate change on agricultural productivity and facilitate trade in agricultural products like rice,

De Mesa noted that rice bore the brunt of these weather disturbances, with damages placed at 373,073 metric tons (MT). Average annual losses incurred by the rice sector ranges from 500,000 MT to 600,000 MT. He said the country may breach the average annual rice losses this year due to the effects of La Niña.

Data from the PSA showed that the unmilled rice production in 2023 was 1.56 percent higher than the 19.76 MMT recorded in 2022.

sugarcane, and coffee, as well as addressing imported commodities in the Philippines. They also aim to collaborate to bolster the overall food security of the ASEAN region.

“The proposed agreement signals a commitment to fostering resilient agricultural sectors in both countries, ultimately aiming for a more secure and sustainable food future in the region.”

Meanwhile, the agriculture chief recently met with Italian Minister of Agriculture Francesco Lollobrigida to strengthen agricultural partnerships and affirm the two countries’ commitment to sustainable food systems and trade.

The Philippines and Italy also agreed on a draft MOU with the goal of improving the country’s productivity to benefit millions of farmers, according to Laurel.

“Italy’s agricultural machinery industry is world-class, and the Philippines can greatly benefit from this expertise as we modernize our agricultural sector.”

Laurel also stressed opportunities for Italian firms to contribute through smart agriculture technologies and irrigation systems, aligning with the Philippines’s goals of agro-industrialization and climate-resilient agriculture.

“Our partnership in agriculture reflects the shared vision of our two nations. We look forward to finalizing our agreements and ensuring sustainable, inclusive, and resilient food systems.” Ada Pelonia

McDonald’s Quarter Pounders linked to deadly E. Coli outbreak, CDC says

ASEVERE E. coli outbreak tied to McDonald’s Corp.’s Quarter Pounders sickened dozens of people in the United States, mainly in Colorado and Nebraska, and killed one, the US Centers for Disease Control and Prevention said.

Ten people have been hospitalized, including a child with complications from HUS, a syndrome that damages small blood vessels and can lead to deadly clots, the agency said. Of the people who have been interviewed, all reported eating at McDonald’s before falling ill between September 27 and October 11, the CDC said, with most specifying a Quarter Pounder.

The restaurant chain’s shares fell 6 percent early Wednesday in

premarket trading. Over the past year they had risen 24 percent through Tuesday’s close.

Twenty-six cases have been reported in Colorado, the state’s health department said. One older person with underlying conditions in Colorado has died after contracting E. coli, according to the statement, and state public health officials are coordinating with the CDC.

McDonald’s said it was taking “swift and decisive action” to control the outbreak. It removed the Quarter Pounder from restaurants in the affected areas and instructed all local restaurants to remove the slivered onions that it identified as the likely culprit from their supply chains.

“We are working in close part -

nership with our suppliers to replenish supply for the Quarter Pounder in the coming weeks,” the company said in a statement. All of its other menu items remain available, it said.

E. coli is a bacteria that’s normally found in the intestines of people or animals, and is often harmless. The latest outbreak was caused by a virulent form, and all the infections were tied to the same strain: E. coli O157:H7. Symptoms typically start three to four days after swallowing the bacteria and can include severe stomach cramps, diarrhea and vomiting.

McDonald’s handling of the situation will be critical for how investors respond, according to Citigroup analyst Jon Tower. Key

elements involve taking action to control the outbreak, taking responsibility for the situation and over-correcting on food safety messages and investments, he wrote in a note to clients.

“Negative food safety news is never welcomed by restaurants operators, especially those working to improve the brand image after getting off-sides on consumer affordability in recent years,” Tower said.

The company has removed the Quarter Pounder from restaurants in Colorado, Kansas, Utah and Wyoming, as well as parts of Idaho, Iowa, Missouri, Montana, Nebraska, Nevada, New Mexico, and Oklahoma. It also said that some of the infections may stem from a single supplier of the on -

ions that serves three distribution centers.

The true number of people infected is likely much higher than is currently known and may involve additional states, the CDC said. That’s because many people recover without being tested. The case count may also continue to rise because it takes three to four weeks to determine if a sick person is part of an outbreak, the agency said.

Contaminated food

MAJOR outbreaks can haunt restaurant chains for years. In 2015, an E. coli and norovirus outbreak across Chipotle Mexican Grill Inc. locations in multiple states led to a drastic drop in sales, as well as fines. In August 2022, the lettuce

served at hundreds of Wendy’s Co. stores was linked to dozens of E. coli infections in the US Midwest. It can be spread through contact with contaminated foods, often raw or undercooked meat. It can also be transmitted via fruits and vegetables, which may be contaminated via tainted irrigation water. Cooking typically kills the bacteria.

The CDC said the specific ingredient causing the outbreak hadn’t been identified and investigators were focused on two ingredients: fresh, slivered onions and fresh beef patties. McDonald’s told the CDC it pulled those products and removed Quarter Pounders from stores in the affected states while the investigation continues. Bloomberg News

A FARMER shows newly threshed rice in this BUSINESSMIRROR file photo.

ADB report highlights PHL’s vulnerability to climate catastrophes

THe latest report from the Asian Development Bank (ADB) paints a grim picture for the Philippines, which cemented its position as the most disaster-affected nation in Southeast Asia. Over the past decade, the country has experienced a staggering 43 million disaster-related displacements, a relentless onslaught of typhoons, and a chillingly high Disaster Risk Index score. This isn’t merely a statistic; it represents the lived reality of millions of Filipinos facing the constant threat of displacement and devastation. (Read the BusinessMirror story: “PHL still most disaster-prone country in Southeast Asia—report,” October 19, 2014).

The report underscores the complex interplay of factors contributing to this vulnerability. The country’s geographic location along the Pacific Typhoon Belt is a significant factor, with five to 10 destructive typhoons making landfall annually. However, the problem extends beyond geographical inevitability. Rapid urbanization, socioeconomic inequalities, unsustainable human activities, and the intensifying impacts of climate change exacerbate the existing risks, creating a perfect storm of vulnerability.

The ADB report highlights a broader regional trend. Southeast Asia as a whole experienced a staggering 58.7 million disaster-induced displacements over the past decade, a third of the global total. Tropical cyclones and floods caused the majority of these displacements, underscoring the urgent need for regional cooperation and investment in mitigation strategies.

Despite the immense challenge, the Philippines is taking active steps to address it. The National Disaster Risk Management Plan (2020-2030) and the National Climate Change Action Plan (2011-2028) represent significant steps towards building resilience. Initiatives like the Disaster Response Operations Monitoring and Information Center play a crucial role in tracking and assisting displaced populations. These efforts, evidenced by the improved response to super typhoons Yolanda and Odette, demonstrate the potential for effective disaster management.

However, the ADB report also serves as a call to action. Sustained investment in disaster risk reduction and resilience building is paramount. Multilateral development banks must work hand-in-hand with governments to finance initiatives that not only address immediate needs but also prevent future displacements by tackling the root causes of vulnerability.

Office of Civil Defense Administrator Ariel Nepomuceno’s plea for increased public awareness and preparedness is equally crucial. The fact that disaster preparedness and climate change are not top priorities for many Filipinos, as indicated by recent surveys, is deeply concerning. The projected 40 percent increase in disasters by 2030, as predicted by the UN Office for Disaster Risk Reduction, necessitates a fundamental shift in public perception and government policy. (Read the BusinessMirror report: “Take disaster preparedness seriously, OCD tells Filipinos,” October 19, 2025).

As we navigate an increasingly unpredictable climate and a world characterized by escalating natural disasters, the time to act is now. Investing in disaster mitigation, strengthening resilience, and fostering a culture of preparedness are not optional but imperative for the wellbeing and safety of all. Let us heed the call to action, prioritize disaster preparedness, and work collaboratively towards building a more resilient and secure future for all.

Inflation: Why and Who

FJohn Mangun

OUTSIDE THE BOX

evokes fear in misbehaving children. The terrorgenerating beast used for adults is named “Inflation.”

There are many direct causes for general even sustained price increases such as war, disease affecting Agri/animal production, and weather events. But these are short term. A study by the World Bank for the period 1970 to 2022 concluded the following. “Oil price shocks were the main drivers of variation in global inflation with a contribution of over 38 percent, followed by global demand shocks with a contribution of about 28 percent over the past five decades.”

What is inflation? A popular myth is that an increasing money supply causes a higher “inflation rate.” There is no correlation as there is with crude oil prices. In the US as in the Philippines, money supply has always been expanding through periods of a “high” inflation rate and “low” inflation rate. The normal steady, slow growth in the supply of money does not lead to inflation rate shock waves.

Tnews.businessmirror@gmail.com www.news.businessmirror@gmail.com Printed by

Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila

What is true though is that the Consumer Price Index (CPI), “a measure of the average prices paid by consumers for a representative basket of consumer goods and services,” absolutely correlates with the increase of the US Money Supply M2 over the past 70 years. The same is true for the Philippines from 1980. But rising consumer prices do not cause inflation.

Rising consumer prices, as measured by the Consumer Price Index, are in fact a symptom of inflation, not the cause. In other words—and this may seem confusing—rising prices do not cause inflation. Inflation causes rising prices.

A myth is that inflation is inevitable. The average annual inflation in England from 1500 to 1900 was 0.5 percent, taking 138 years for prices to double. This was through the English Civil War, the building of the British Empire, the Napoleonic Wars, and

By Matthew Winkler, Miaojung Lin, Debby Wu & Yian Lee

AIwA n is “very open” to using new nuclear technology to meet surging demand from chipmakers devouring electricity in the AI boom, according to Premier Cho Jung-tai—one of the strongest signs yet that the government is rethinking its opposition to reactors.

“As long as there is a consensus within Taiwan on nuclear safety and a good direction and guarantees for handling nuclear waste, with this strong consensus, we can have a public discussion,” Cho said in an interview with Bloomberg News.

“We hope that Taiwan can also catch up with global trends and new nuclear technologies,” Cho said on Thursday, while also reiterating his view that “Taiwan will have no issues with power supply for industries before 2030.”

Cho’s comments underscore what appears to be a shift by a government that has opposed using nuclear for safety reasons. Public support for using reactors in Taiwan plunged in 2011 when neighboring Japan was struck by an earthquake that wrecked the Fukushima plant, leading to a crisis Tokyo is still sorting out.

The opposition to nuclear power is getting harder to maintain given the incessant demand that the artificial intelligence boom is placing on chipmakers like Taiwan Semiconductor Manufacturing Co. Taiwan has raised electricity prices twice this year, with the latest being a 12.5 percent increase for industrial users that began earlier this month.

Still, TSMC Chief Executive Officer C. C. Wei said during a postearnings call Thursday that the company has been assured by the government it will have enough electricity, water and land to support expansion. Taiwan isn’t alone in taking a closer look at nuclear to boost power supply. Microsoft Corp. is helping revive the shuttered Three Mile Island nuclear plant in Pennsylvania by agreeing to buy all the output.

Governments need an increasing money supply—which makes the currency less “valuable” in terms of purchasing power for you—in order to absorb rising public deficit spending. The reality is that government borrowing today makes paying off those loans in the future less costly as the money supply increases.

two Industrial Revolutions.

What changed in the 20th century?

An increasing money supply is therefore inflation, which then creates higher prices over time. An increasing money supply makes money less valuable in terms of the amount of goods and services that can be purchased.

Notice, it is always the politician that says that corporations are evil because they raise prices and create inflation. These politicians are liars and fools. Corporations raise prices because there is inflation, not the other way around. Granted, corporate wage compensation disparity is a great issue but that is another topic. Therefore, if an increasing money supply creates rising prices, then why not simply stop increasing the money supply? Man goes to doctor: “Doctor, whenever I drink coffee, I get a sharp pain in my eye.” Doctor: “Take the spoon out of the cup.”

A better question then is, “Why

Meanwhile, Alphabet Inc.’s Google and Amazon.com Inc. are both investing in next-generation nuclear technology.

The Philippines and South Korea have also agreed to conduct a feasibility study on possibly rehabbing the Southeast Asian nation’s mothballed nuclear plant.

Taiwan’s rethink also comes as China’s military has staged drills that appear to simulate a blockade of the self-ruled island that’s home to 23 million people. Though there are no signs of imminent conflict, the risk of Taiwan being cut off from important energy supplies is one that officials such as Cho must consider.

Underscoring the interest in someday embracing nuclear power, the 65-year-old Cho said he’d ask the state-backed power provider to make sure that personnel from the archipelago’s decommissioned reactors stay in their jobs. Taiwan is set to close its last nuclear reactor in the spring.

“This is because we need to prepare for future nuclear technology developments and to respond to any potential legal changes in Taiwan,” Cho said.

don’t central banks and governments want to stop inflation?” If the CPI increases with the money supply, guess what else does also? The gross domestic product. Note that I am NOT talking about the GDP growth rate but the actual “monetary value of final goods and services produced in a country in a given period of time.” Governments need an increasing money supply—which makes the currency less “valuable” in terms of purchasing power for you—in order to absorb rising public deficit spending. The reality is that government borrowing today makes paying off those loans in the future less costly as the money supply increases. We are told that we should look for ways to mitigate the effects of a degrading currency. Maybe it is Bitcoin that is up about 30,800 percent since January 1, 2015, up 630 percent in five years, and 125 percent in the past 12 months. But then again Nvidia Corp. is about 29,800 percent higher since January 2015, up 2,700 percent in five years, and 230 percent in the past 12 months. As Ronald Reagan should have said, “Government can be as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.”

TSMC

IN addition to boosting power demand, surging global investment in AI has also put Taiwan’s chipmakers, especially TSMC, in the spotlight because they make the vast majority of the world’s most-advanced semiconductors. The US, Japan and other governments have in turn sought to lure TSMC to build chip plants on their soil. The government of Taiwanese President Lai Ching-te, of which Cho is a member, has been fine with TSMC’s overseas expansion. In Thursday’s interview, Cho linked that expansion to Taiwan’s efforts to build stronger ties with like-minded democracies to counter China, which claims the island as its territory and has pledged to eventually bring it under Beijing’s control, by force if necessary. That said, Cho also hopes firms like Nvidia Corp., Infineon Technologies AG and Advanced Micro Devices Inc. will open R&D facilities in Taiwan. “Taiwan’s economic resiliency comes from the partnership we have with friendly countries,” he said. “We have a strong vertically integrated supply chain. This is See “Taiwan,” A11

ROm “Lamia” in ancient Greek to “mangtae Hal-abeoji” in South Korea, almost every culture has a mythical monster whose name

Antonio L. Cabangon Chua

UK warns of grain threat after Russia steps up Black Sea attacks

By Ellen Milligan

AN increase in Russian attacks on Ukrainian port infrastructure in recent weeks threatens food shipments to destinations from Gaza to southern Africa, the UK warned.

British intelligence has detected a “noticeable increase in Russian risk appetite,” leading to at least four merchant ships being damaged during attacks on Black Sea ports between October 5 and October 14, Prime Minister Keir Starmer’s office said late on Tuesday in a statement. That’s delayed a cargo of vegetable oil for the World Food Programme in Gaza, as well as hitting grain and corn shipments to Egypt and southern Africa, it said.

Ukraine is a key global supplier of grain, meaning Russia’s strikes— which coincide with harvest season—pose a threat not just to its neighbor’s agriculture-reliant economy, but also to world food security.

The UK, which alongside Norway is leading efforts to protect a maritime corridor in the Black Sea, described the affected shipments as “collateral damage” in Russian President Vladimir Putin’s campaign against Ukraine. The conflict between the two nations, sparked by Russia’s invasion in 2022, is approaching the 1,000-day mark.

As Britain seeks to bolster defense in the face of the threat from Russia and others, it’s also due Wednesday to sign a defense pact with Germany, aimed at increasing cooperation on new deep-strike weapons, armored vehicles and torpedoes. Earlier Tuesday, the government also said it’s increasing support to Ukraine by loaning the country £2.3 billion ($3 billion) to purchase military equipment, paid for by profits generated by frozen Russian assets as part of a wider $50 billion package from the Group of Seven nations and European Union.

Taiwan. . .

continued from A10

why we believe Taiwan can play an important role in the democratic supply chain.”

Defense

OF course, Taiwan’s efforts to bolster its security go beyond semiconductors. The government announced plans in August to lift defense spending to a record in 2025—the eighth straight year of increases. The total figure would account for 2.45 percent of estimated GDP next year, in line with recent years and greater than the 2 percent target for Nato countries.

That hasn’t satisfied everyone. Former US President Donald Trump recently made comments to a columnist for the Washington Post that suggested Taiwan should boost spending on its armed forces to 10% of GDP. Cho, a former chairman of the ruling Democratic Progressive Party, said in response,

Russia has been targeting Kyiv’s export infrastructure since the 2022 invasion, with strikes on its ports in the Black Sea and on the Danube. Shipments have remained resilient despite considerable damage and a very dangerous working environment, as traders found new routes to export. After the latest uptick in Russian attacks, the cost of getting war insurance cover for cargo vessels is rising.

“Russia’s indiscriminate strikes on ports in the Black Sea underscore that Putin is willing to gamble on global food security in his attempts to force Ukraine into submission,” Starmer said. “In doing so, he is harming millions of vulnerable people across Africa, Asia and the Middle East, to try and gain the upper hand in his barbaric war.”

South Korea’s National Intelligence Service said last week that Russian navy ships had transported approximately 1,500 North Korean Special Forces to Russia for “adaptation” training in advance of a deployment to Ukraine. Starmer said such a move by Russia is “an embarrassing and desperate act.”

Separately, Britain’s agreement with Germany paves the way for Rheinmetall AG to open a new UK artillery gun barrel factory that’ll work with Sheffield Forgemasters and support more than 400 jobs, the UK’s Ministry of Defence said in a separate statement late on Tuesday. The two nations will also collaborate on Boxer armed vehicles, land-based and airborne drones, and protecting undersea cables, the MoD said. With assistance from Áine Quinn/Bloomberg

“While we cannot allocate 10 percent of GDP to defense in one go, we have increased the budget compared to the past.”

“We also hope that through Taiwan’s efforts, the world will recognize Taiwan’s determination and provide greater support,” he added. In the interview, Cho also reiterated the government’s desire to expand defense ties with the US and other nations, which are looking to reduce their supply-chain links to China. One example he mentioned was that Taiwan recently hosted a number of executives from overseas drone makers. If successful, the strategy would create more incentive for those governments to come to Taiwan’s aid in an emergency.

“Because Taiwan understands its role in the democratic supply chain and the world’s reliance on Taiwan, I often say that the more Taiwan is needed, the more important it becomes,” Cho said. “We are continuously moving forward on this path.” With assistance from Shin Pei /Bloomberg

Towards economic sustainability: Empowering growth in PHL with insights from IMF and WB

By Henry Go

AccoRdiNG to an international Monetary Fund (iMF) report released on october 3, 2024, the Philippines has managed to remain at a reasonable level of resilience despite the number of challenges in the macro environment. As a matter of fact, the country has ranked among the top contenders regarding economic growth in Southeast Asia for quite a number of years now.

The economy expanded 6.0 percent in the first six months of 2024. This can be attributed to the huge increases in government expenditure and public sector investment, which outpaced private consumption growth. However, private consumption is likely to remain subdued for most of the year. Thus, economic growth in 2024 is expected to decline by a small margin to 5.8 percent, though lesser than the performance in 2023, but still indicating growth. However, growth is anticipated to bounce back to 6.1 percent in 2025, hopefully driven by a more favorable macro environment for private investments.

The IMF indicated that the recent downtrend in inflation has resulted in BSP rebalancing its monetary policy. With inflation now within the BSP’s target band (thanks to decreasing commodity prices and reduced tariffs for some staples like rice), this adjustment resulted in easing household cost of living, while at the same time further stabilizing the economy. From a strategic perspective, the prospects of a low-interest-rate regime combined with controlled inflation provide the right environment for stimulation of economic activity, encouraging foreign investors and increasing private sector involvement in PublicPrivate Partnerships (PPPs.) These scenarios not only boost business optimism, but they also help to enhance growth sustainability, which in turn enhances the Philippines’ position in the global market.

Moreover, there is an expectation that the current account deficit will decrease and will reach two percent of GDP in the fiscal year 2024 and 1.9 percent in the fiscal year 2025. Such optimism is purported to be due to the recovery of the world economy, with growth domestically derived from the shifting of the focus of industries towards the adoption of AI, expansion of export markets, a booming agriculture sector, vibrant tourism-related activities and increased remittances from overseas Filipino workers. However, the IMF has sent a warning note stating that external shocks, such as supply chain disruptions, volatility of commodities prices and the like, could threaten the growth outlook.

Suggestions for enhancing economic growth and sustainability: 1. Stimulate private consumption and household spending

A release by Bangko Sentral ng Pilipinas last April 12, 2024 shows that Consumer sentiment was less optimistic for Q2 2024 and the following 12 months (February 2024 – January 2025) since the Confidence Index drops to 2.7 percent and 13.4 percent, respectively, from 5.6 percent and 15 percent, respectively in Q4

2023 survey round. The weaker outlook of consumers for both periods was attributed to their anticipation of: (a) inflation, (b) fewer available jobs, and (c) lower income. The government should therefore address those concerns and boost household spending. One effective strategy is to improve job opportunities and increase purchasing power. One possible way to increase job opportunity is to provide free skills training in sectors with high demand, such as information technology, construction, hospitality and healthcare. Worth mentioning, is the support of ADB for the government social assistance programs such as the flagship conditional cash transfer Pantawid Pamilyang Pilipino Program (4Ps) and the Walang Gutom (Zero Hunger) 2027 Food Stamp Program contributed in stimulating consumer spending, driving economic growth.

2. Enhancing private investment through Public-Private Partnerships

The IMF demonstrated “fasterthan-expected private investment linked to public-private partnerships could stimulate higher growth.” Hence, the financing for large ticket infrastructure projects can be done by stressing private investment participation in the Public-Private Partnerships (PPPs) such as road network, building bridges and public transport systems. Significantly, the Public-Private Partnership Code of the Philippines (Republic Act 11966) enacted in December 2023 and its Implementing Rules and Regulations approved on March 21, 2024, makes available an all-embracing legal framework within which any interested person could utilize for the planning and implementation of any Public-Private Partnership Projects in the Philippines. With this development, it strengthens the country’s investment ecosystem. Hopefully, this framework can promote stronger collaboration between the public and private sectors.

3. Tax reforms to create fiscal space

The IMF advised the government of the Philippines to ‘consider additional tax policies to create more fiscal space for priority spending areas.’ That would involve improving tax administration, enhancing collection efficiency, and combating tax evasion so that they can raise government revenues without squeezing the taxpayers, meaning, no additional/new taxes. Tax incentives is an area that is of great importance. As such, it needs to be kept under persistent monitoring to make sure that it really brings in additional investments and growth; that it is not a one-time effort but rather contribute regularly, such as through income tax revenues over the years.

With focus on pressing sustainable development, digital growth and social inclusiveness the country has the potential to build a more dynamic and sustainable economy.

In addition, the introduction of a carbon tax is another measure worth considering in view of the desire to encourage more renewable energies and reorient the use of energy from polluting to cleaner sources. In the medium-term, improving the performance of the value-added tax is one of the areas needed to work on.

On VAT Rate, the Philippines has the highest VAT rate in Southeast Asia but has the lowest VAT efficiencies. Thus, average VAT collection in the country was only around P723 billion, or around 40 percent of the projection of VAT collection, from 2016 to 2020. Therefore, VAT system enhancement may plug loopholes and assist in observing more disciplined revenue collection.

4. Investing in climate resilience

The Philippines ranks among the countries most susceptible to climate-related disasters, where droughts, sea rise, floods, tropical storms, earthquakes, and volcanic eruptions constantly occur and threaten. The World Bank projects that climate change could reduce the country’s GDP to 7.6 percent by 2030 and 13.6 percent by 2040, highlighting the urgent need for a strategic national response. Therefore, addressing climate change impacts should be given the priority. Essential measures include bringing back the mangroves, establishing protected forests for flood mitigation and to absorbing carbon emission, constructing flood control dams with the potential of harnessing energy from water, and dredging of waterways to allow for smooth flow of water thereby preventing flooding. These, along with building climate resilient infrastructures, will go a long way in reducing the effects of disasters and promoting development that optimizes available resources over a long-term period. Furthermore, the government needs to explore other innovative green financing mechanisms for sustainable resource mobilization and project funding to safeguard the economy and its people to enable our transformation into a progressive and prosperous economy.

5. Developing human capital and promoting digitalization

In its report of the World Bank Human Capital Review in June 2024, the dynamic services sector of the country takes 60 percent of the economy, which includes the remittances coming from Overseas Filipino Workers standing at 8.5 percent of the economy last year. Importantly, more than 70 percent of the wealth in this country comes from its people so it is obvious that prosperity here comes with its human capital. However, this very much remains untapped. The Philippines needs to focus more on its human capital since the number of its population within its working age is still growing whereas its neigh-

Yellen says US to contribute $20 billion for Ukraine loan

By Viktoria Dendrinou, Alberto Nardelli & Jorge Valero

TR eASURy

G-7 nations are set to finalize as early as this week a $50 billion loan deal for Ukraine using the profits generated by frozen Russian central bank assets.

“We’re 99 percent there and it’s nailing down just a couple of relatively small things,” Yellen told reporters in Washington. “We’re very close and there’s nothing significant that needs to be still worked out.”

She said the funding is intended to start heading to Ukraine by the

said Tuesday that the US is

end of this year. The US contribution clears the way for the EU to provide €18 billion ($19.4 billion), German Finance Minister Christian Lindner, said in New York. He heads to Washington later in the week, where global finance chiefs and central bankers are gathering for the annual meetings of the International Monetary Fund and World Bank. “It is the time this week to send a signal that the G-7 and the European Union are capable of action

and that we are united in defending the international order by continuing to support Ukraine in its right to defend itself,” he said.

The UK announced Monday it will put in £2.3 billion ($3 billion), while Japan and Canada are expected to provide similar amounts, according to people familiar with the matter.

The G-7 has aimed for initial funds to reach Ukraine by the end of the year, with the bulk of the support being released next year in tranches, said the people, who spoke on condition of anonymity. The aid will go toward meeting many of Ukraine’s military and economic needs.

The loan plan is an effort to lock in guaranteed funding for Ukraine, as its allies brace for a possible election

victory by President Donald Trump, who has been critical of sending US aid to Kyiv. It comes at a crucial time for the country, which has been struggling to hold its defensive lines amid a sustained push by Russia.

The people cautioned that the final details of contributions from each nation are still being ironed out and could change before an announcement is made.

The G-7 has collectively frozen about $280 billion of Russian central bank assets, with the vast majority of the funds in Europe, where they are expected to generate about $3 billion to $5 billion in profits a year. The loans would be repaid using the proceeds generated by the immobilized funds. G-7 leaders reached a political

bors are already aging. This demographic advantage opens strategic opportunities because it increases the demand for skilled workers, not only domestically but even internationally. To fully seize the opportunity, the country will have to make massive investment in digitalization and ensure that its education systems match the changing needs of the labor market. Importantly, digital economy in the year 2023 has been projected to be valued at nearly $35.4 billion, which was equivalent to 8.4 percent of the GDP. Indeed, as stated in the Philippine Development Plan, more emphasis needs to be given to better digital infrastructure, especially in the rural areas to hasten financial inclusion and reduce the economic gap between the urban and rural areas.

6. Agricultural productivity and blue economy development

The agricultural industry plays an important role in the economy of the Philippines accounting for 13.5% of the GDP and providing around 25% of the workforce and this includes women’s participation in fishing, livestock rearing and other economic activities. Nevertheless, it is plagued with problems including land over fragmentation, excessive out migration due to rural poverty, poor access to finance and markets, expensive farming implements and fertilizers, inadequate irrigation system and ineffective supply chains. To address these problems and reduce its negative impact, some areas to consider should include focused developments on high tech farming such as precision agriculture and hydroponics, a move embrace organic farming practices as well as climate change adaptation strategies, and increased funding in agribusiness development to ensure sustainable food production. Additionally, the IMF has also noted the contribution of the blue economy, the economy related to marine resources. That sector contributed 4.05 percent to the overall GDP. The scope and magnitude of the economic output and benefits derived from blue resources and activities underscores the critical need for responsible management and utilization of these resources to ensure long-term sustainability. Therefore, it is necessary for a focus agency to formulate a national strategy and roadmap on the blue economy, to ensure that sustainability, resiliency, and inclusivity are defined as pillars of the blue economy.

Conclusion

Growth is forecast in the foreseeable future for the Philippines; however, more transformative reforms are needed to reach its fullest potential. The IMF among other professionals accentuated the need for structural changes to be instituted so as to boost productivity, foster good governance and manage the risk associated with climate changes. With focus on pressing sustainable development, digital growth and social inclusiveness the country has the potential to build a more dynamic and sustainable economy.

agreement to provide Kyiv with the loans at a summit in June but have been locked in discussions to finalize a deal since. The US was seeking assurances from the EU that the assets would stay frozen in the longer term but Hungary has blocked changes to the EU’s sanctions regime, arguing that any decisions should wait until after the US election. Hungarian Premier Viktor Orban is a strong supporter of Trump, who has said he will seek a quick deal with Russia, a position the Hungarian leader shares. EU sanctions currently have to be renewed every six months and require the backing of all 27 member states to do so. The bloc is looking to extend that term to 36 months, a change that also needs the support of all member

countries. US officials had suggested that the uncertainties surrounding the durability of EU sanctions could limit the size of the US contribution because of the risk that asset freezes get lifted long before the loans are paid back.

Nevertheless, the US has now indicated that it will be able to make a significant pledge despite Budapest’s ongoing resistance.

Ukraine is eager to cement the financing plan. According to recent estimates by the Ukrainian government, in cooperation with the International Monetary Fund, the country’s financing needs for next year are expected to rise to $38 billion. With assistance from Kamil Kowalcze and Daniel

Secretary Janet yellen

nearly ready to offer $20 billion toward a broad Group of Seven-led loan program to help Ukraine.

Sokor, Canada, US, Japan, France to help PHL nuke bid

ENERGY experts from South Korea, Canada, United States, Japan, and France will assist the Philippines in achieving its nuclear power goals: to have its first nuclear power plants operational by 2032, with an initial capacity of 1,200 megawatts, expanding to 2,400 MW by 2035 and reaching 4,800 MW by 2050.

e Philippines will hold a threeday forum next month dubbed the Philippine International Nuclear Supply Chain Forum (PINSCF) 2024, where key energy specialists from the United States, Canada, France, South Korea, and Japan will discuss various technologies and regulatory frameworks as the Philippines explores the potential of nuclear energy.

PINSCF 2024 will feature presentations, expert-led discussions, and networking opportunities, providing a platform for international collaboration and knowledge exchange.

On the third day of the forum, the South Korean delegation will share its success stories and lessons learned in incorporating nuclear energy into its national energy mix. Representatives from Korea Hydro & Nuclear Power (KHNP) will be among the key presenters, sharing their expertise and innovative solutions in the field of nuclear energy.

South Korea has been a leader in nuclear energy since 1978, operating 26 nuclear reactors that contribute to the country’s total net capacity of 25,825 megawatts electric (MWe). In 2023, these reactors generated 30.7 percent of the country’s total electricity production.

Further, it will construct three new nuclear power plants and include small modular reactors (SMRs) as a new power generation facility by 2038.

e country has set a goal to capture 20 percent of the world nuclear power plant market during the next 20 years. is will translate to 80 reactor exports in the next 20 years, with an estimated value of $400 billion.

Currently, the Philippines and South Korea are collaborating on a comprehensive technical and economic study in the field of energy, based on the memorandum of understanding (MOU) signed by the two countries last October 7.

e MOU is designed to generate critical information to guide the Philippine government’s decisionmaking process, not only on the Bataan Nuclear Power Plant (BNPP) but also in exploring other nuclear technologies and potential alternative sites for nuclear energy development.

“ e Philippines is committed to exploring all options for a secure and sustainable energy future, including nuclear energy. Drawing on South Korea’s decades of leadership in this field, we hope to gain invaluable insights as we explore the potential of this technology. Our two countries share a rich history of strong energy cooperation, and through this collaboration and knowledge sharing, we are confident that we can harness the power of nuclear energy to meet our energy needs and address the challenges of climate change,” the Department of Energy (DOE) said.

On the second day of the forum, the Canadian delegation will highlight its comprehensive knowledge of nuclear energy design, fi nancing, and project management, with focus on the “On-time, On-budget” concept.

Prominent representatives from the Canadian nuclear energy sector, including CANDU Energy Inc., the Nuclear Waste Management Organization of Canada, and the Nuclear

Regulating Agency of Canada, will share their expertise and experience in the field. eir presentations will delve into Canada’s leadership in areas such as science and technology, nuclear power design and construction, project management, and the development of engineering tools.

Canada pioneered the worldrenowned Canada Deuterium Uranium (CANDU) reactor technology. It has exported CANDU reactors to several countries and there are 34 CANDU reactors globally, 29 of which are currently operating. It is also a pioneer in refurbishing existing nuclear reactors and scaling up SMR development.

Canada’s leadership in nuclear energy is reflected in its possession of the world’s fourth-largest uranium reserve, estimated at 514,000 tons. It exports 85 percent of its mined uranium, making it the world’s second-largest producer. It has 19 large nuclear reactors generating approximately 15.3 percent of the country’s electricity.

“Canada’s contributions to the global nuclear energy landscape demonstrate their commitment to both innovation and environmental responsibility. ese values align with our vision for a secure, sustainable, and clean energy future, and we acknowledge their willingness to share their expertise and experience with the Philippines,” the DOE said. Meanwhile, the United States, with whom the Philippines recently signed a 123 Agreement on civil nuclear cooperation, will take center stage on the opening day of the forum.

e US has used nuclear power for more than 60 years. e country is the world’s largest producer of nuclear energy, which contributes nearly 20 percent of the electricity generated in America. Nuclear energy plays an important role in the United States’ overall energy portfolio, as the country—like many—attempts to reduce carbon emissions and address the threat of global climate change.

e US delegation will include nearly 20 American companies representing various sectors of the nuclear supply chain, alongside senior US government officials. Besides joining event panels, the delegates will engage in matchmaking sessions

with Philippine private sector leaders and others interested in forming new commercial partnerships.

e PINSCF 2024 will serve as a crucial platform for bringing together local and international experts from the energy sector, and will gather key players—foreign and local industry leaders, policymakers, and stakeholders—to share insights on nuclear energy’s potential in the Philippines and examine best practices from around the globe.

e Philippine government is prioritizing legislation to ensure legal and regulatory frameworks that safeguard public health, the environment, and national security. Additionally, the country is also exploring small modular reactors (SMRs) as reliable baseload power sources, particularly for off -grid areas with lower electricity demand.

e forum is scheduled from November 13 to 15.

“As the world transitions away from fossil fuels, each nation are weighing options for achieving energy independence and security. is forum allows us to engage with the global community while ensuring that our own stakeholders are part of the discussions,” the DOE added.

e Philippines has formalized its commitment to exploring nuclear energy as part of its energy mix through Executive Order 164, s. 2022. Generating power through fi ssion, nuclear energy is one of the cleanest sources of power, with zero carbon dioxide emission and the capacity to provide reliable and stable supply of power to the grid.

e Philippines is also looking forward to the support that could be extended by the Emirates Nuclear Energy Corporation (Enec), which has been tasked by the UAE government with delivering the UAE Peaceful Nuclear Energy Program.

As the Philippines establishes an independent regulatory body for the safe and secure development of nuclear energy through priority legislation, the DOE said Enec can offer valuable support.

It provides expertise in developing comprehensive legal and regulatory frameworks, collaborating on training programs for regulators and technical staff, advising on stakeholder engagement, and offering technical expertise.

Construction of homes, commercial bldgs down 7.5% in August–PSA

THE construction of residential and commercial buildings as well as housing alterations and repairs declined in August, according to the latest data released by the Philippine Statistics Authority (PSA).

e data showed the total number of construction works contracted 7.5 percent to 13,436 in August 2024 from 14,521 in August 2023. Residential construction contracted 9.6 percent while non-residential projects declined 3.1 percent during the month.

PSA said residential buildings accounted for the highest number of construction at 8,694 or 64.7 percent of the total number of constructions during the month.

Majority of the total residential construction comprised single-type houses with 7,229 construction projects or 83.1 percent of the total.

“Residential building is a building for which its major parts or more than half of its gross floor area is built for dwelling purposes. is type of building can be of the single type, duplex, apartment and/or accessoria, and residential condominium,” PSA said.

Meanwhile, non-residential type of construction recorded the second

highest in terms of number of construction works at 2,975 or 22.1 percent of the total number during the month.

Majority or 69.2 percent representing 2,058 non-residential constructions were commercial buildings in August 2024. PSA noted that non-residential buildings include commercial, industrial, agricultural, and institutional buildings such as for education and health, namely hospitals.

e PSA data showed alterations and repairs also declined 5.1 percent in August 2024. ere were a total of 990 of these projects during the period. An alteration is a construction in a building/structure involving changes in the materials used, partitioning and location/size of openings, structural parts, existing utilities, and equipment but does not increase the overall area thereof.

Repair is a remedial work done on any damaged or deteriorated portion/s of a building/structure to restore its original condition.

Meanwhile, the data also showed other construction works contracted 12 percent to 308 projects in August 2024 fom 350 projects in August 2023.

Other Constructions include demolition, street furniture, landscaping, and signboard.

Earlier, Colliers Philippines Research Director Joey Bondoc said vacancy rates of condominiums are expected to continue in the wake of the exodus of Philippine offshore gaming operations (Pogo) and the completion of projects this year.

Bondoc said the overall vacancy rate in Metro Manila was at 17.2 percent as of the second quarter of 2024. Bondoc said the country’s vacancy rate could continue to hover above 17 percent. e projected vacancy rate could average 17.7 percent by yearend and average 17.3 percent next year.

Bondoc noted that the projects to be completed this year are the same ones launched in 2018-2019, at the height of the growing demand for

units for Philippine Offshore Gaming Operators (POGOs) employees. is has led to a 65-percent decline in preselling launchings and 58-percent decline in preselling takeup as of the fi rst semester of 2024.

In 2018, there were 55,000 units launched and 59,000 units taken up; while in 2019, 56,000 units were launched and 51,000 units were taken up.

However, in the fi rst semester of 2024, only 5,000 units were launched and 6,000 units were taken up. In the full year of 2023, a total of 25,000 units were launched and 23,000 units were taken up. (See: https://www.businessmirror.com. ph/2024/10/17/pogo-exit-new-projects-to-keep-many-condos-vacant/)

FOLLOWING the onslaught of Typhoon Kristine, the Department of Trade and Industry (DTI) has issued a price freeze on basic necessities in Albay Province and Magpet Town in Cotabato.

e DTI, through its Consumer Protection Advocacy Bureau, said the two areas are currently declared under the state of calamity due to “widespread” floods and landslides.

“In close coordination with the Office of the Civil Defense, we are prepared to enforce the automatic price freeze that accompanies any state of calamity declaration. e DTI will take strong action against any violations, which may include administrative cases and fi nes,” DTI Acting Secretary Cristina A. Roque said in a statement on Wednesday. Roque also noted that the agency’s on-the-ground regional and provincial offices “actively” monitor prices and supply levels of products within DTI’s jurisdiction in all affected areas.

When a state of calamity is declared, Republic Act No. 7581, or the Price Act, as amended, mandates a 60-day automatic price freeze on products under its pur-

view such as canned fi sh, locally manufactured instant noodles, bottled water, bread, processed milk, coffee, candles, laundry soap, detergent, and salt. DTI said this means these basic necessities are “frozen” at their prevailing prices. With this, the Trade department noted that the price freeze will remain in effect until its designated end date unless lifted sooner by the President. In addition to the DTI, other implementing agencies of the Price Act are responsible for ensuring price stability and sufficient supply within their respective jurisdiction.

For instance, the Department of Agriculture oversees the prices and supply of rice, corn, cooking oil, fresh, dried and other marine products, fresh eggs, fresh pork, beef and poultry meat, fresh milk, fresh vegetables, root crops, sugar, and fresh fruits. Meanwhile, the Department of Health is responsible for monitoring the prices of essential drugs. Business establishments found to have violated the price freeze will face a penalty of imprisonment for a period of one year to 10 years, or a fi ne ranging from P 5,000 to P 1,000,000, or both, at the discretion of the court.

Low prices could make farmers shun planting corn

THE Philippine Maize Federation Inc. (PhilMaize) warned that low prices could discourage farmers from planting corn next season despite an anticipated increase in corn output this third quarter.

“It might [increase from last year’s], but low price could be a disincentive for our corn growers to plant next season,” PhilMaize President Romualdo Elvira Jr. told the BM

Data from the Philippine Statistics Authority (PSA) showed that corn output stood at 2.47 million metric tons (MMT) from the July to September period last year.

Elvira expressed concern over the drop in farmgate prices of corn due to lackluster demand from poultry and livestock sectors.

Ang isa lang na problema natin ngayon is mababa yung presyo ng mais [One proble right now is the low price of corn],” he said.

Elvira noted that the demand dropped due to the poultry and livestock sectors being hard-hit by animal diseases such as African swine fever (ASF) and bird flu.

“ e swine industry is truly affected by ASF and then you have [bird] flu affecting chickens, so the effect on demand is big,” he said.

Visayas...

derscored the need to form a regular consultation body involving private sector leaders and policymakers to evaluate existing regulations and identify “barriers” to business operations.

“Utilize Regulatory Impact Assessments [RIA] to gauge the effectiveness of proposed business

regulations before implementation,” PCCI said. e group also underscored the need to review agencies with “confl icting” administrative and regulatory functions such as the Laguna Lake Development Authority (LLDA) and the Philippine Ports Authority (PPA). e government should collaborate with urban planners and industry stakeholders to develop a long-term infrastructure masterplan on transportation, energy, and communication networks

Elvira noted that farmgate prices as low as P14 for clean and dry corn have already been recorded in some areas.

“ e planter’s margin is too low there,” he said, noting that farmgate prices should range between at least P17 to P20, a rate which offers a better margin for farmers. e PhilMaize president said the drop in prices could pose a problem for the corn industry since it might push growers to plant a different crop.

Elvira then urged the government to review the Executive Order (EO) 62 which maintained the tariff rates on some agricultural commodities, such as corn until 2028. e tariff on corn remained at 5 percent in-quota and 15 percent out-quota.

e National Economic and Development Authority (Neda) is set to review the comprehensive and/ or specific MFN (Most Favored Nation) tariff rates listed under EO 62 by November. EO 62 provides that the tariff structure be subjected to a periodic review every four months from its effectivity. “ e corn growers seem to be at a disadvantage because the tariff is low, demand is low,” he said. Ada Pelonia

strengthening the social and environmental communities. Together, we can create resilient communities that o er tourists an authentic, sustainable experience of the Philippines while ensuring that our resources are protected for future generations.”

that align with and support the country’s economic development program, according to PCCI. e business group also underscored the need to priotize investing in farm-to-market roads and major transport hubs that facilitate the movement of goods regionally.

In attracting more investments, PCCI noted a need to establish a “Digital Governance Initiative” aimed at providing technical assistance and tools for

The LMP, established under Section 496 of Republic Act 7160 (The Local Government Code of 1991), serves as a platform for addressing municipal governance issues in partnership with the national government. Its e orts focus on supporting municipalities and advancing nation-building.

local government units to digitize their services.

According to the top business group in the country, the “successful” implementation of these resolutions and actions is “vital for nurturing a resilient economy and ensuring the well-being of our citizenry.”

“We stand ready to collaborate with the Government in turning these proposals into actionable policies for the betterment of our country,” added PCCI.

Editor: Jennifer A. Ng

PSE plans to launch new products starting next year

By VG Cabuag @villygc

The Philippine Stock exchange Inc. (PSe) said it is targeting to introduce two products starting next year through 2026, as it is keen on diversifying the offerings of the bourse.

pSE president and CEo Ramon S. Monzon said it will launch the global philippine Depository Receipts (gpDR) by the first quarter of next year and the domestic derivatives by the first quarter of 2026.

The gDpRs are peso-denominated instruments that represent an economic interest, but not voting rights, in an underlying security listed in an overseas exchange. holders of gpDRs will have the option to convert them into equivalent shares or units of the underlying security. This innovation will allow local investors to diversify their portfolios by trading foreign securities within the domestic market, Monzon said during a forum orga-

nized in partnership between the UK Mobilist program and the pSE. philippine listed companies will also be traded in other exchanges, which in turn should generate additional liquidity for the local market, Monzon said.

The gpDRs are targeted to be implemented by the first quarter of 2025, he said. Monzon said the gpDR rules are still up for public comment. The comments will be considered in finalizing the bourse’s gpDR rules, which will then be submitted to the Securities and Exchange Commission (SEC) for approval.

The pSE is also set to introduce index futures with the pSE index as

the underlying asset.

“The pSE is currently conducting learning sessions with other stock exchanges and other foreign market participants such as the hong Kong and Taiwan Stock Exchanges, Citibank, hSBC, international Swaps and Derivatives Association, Kgi and Maven to develop and introduce derivatives in the philippine stock market,” Monzon said.

The introduction of derivatives is expected to enhance market transparency and liquidity by providing market-based pricing information, he said.

“We are targeting to launch our derivative products by the first quarter of 2026 as we have to work on the regulatory frameworks at both the SEC and the BiR [Bureau of internal Revenue],” he said. in preparation for the possible establishment of a domestic derivatives market, the SEC conducted a Derivative Market o versight and Regulatory Scheme Training with the United States Commodity Futures Trading Commission (CFTC), in collaboration with the Asian Development Bank last August.

The CFTC, represented by deputy director Kevin C. piccoli during the workshop, is an American independent federal agency that regulates the derivatives markets, with a robust international technical assistance program that aims to guide countries in the development of a commodities market within their jurisdictions.

“The Derivative Market o versight and Regulatory Scheme […] complements our ongoing efforts to develop regulatory frameworks for commodity futures and an electricity derivatives market, in pursuit of our mandate to deepen capital markets,” SEC Commissioner McJill Bryant T. Fernandez said.

The program tackled fundamental aspects of derivatives such as legal frameworks and regulatory elements, investor protection and regulation, and contract design and transaction clearing mechanisms. it aimed to initiate discussions and address concerns among focal SEC personnel and key industry and government stakeholders on the formulation of a derivatives market in the philippines.

PAL to transfer to new JFK terminal

By Lorenz S. Marasigan @lorenzmarasigan

LEgAC y carrier philippine Air-

lines (pAL) is set to relocate its operations to the new Terminal one at new york’s John F. Kennedy (JFK) international Airport by 2026.

Stanley K. ng, pAL’s president and Coo, said the move will make the carrier the first Southeast Asian airline to commit to the new JFK terminal.

“This partnership with the JFK new Terminal one highlights an important innovation for philippine

SM Prime to unveil Cebu mall

Shopping mall operator SM prime holdings inc. said it will open SM City J Mall in Mandaue City, Cebu on Friday. According to the company, this expansion marks SM prime’s fourth mall in Metro Cebu, eighth in the Visayas region and 87th in the philippines.

SM City J Mall is situated along the bustling A.S. Fortuna Street in Barangay Bakilid, maximizing accessibility and visibility for both residents and tourists.

The four-level mall has over 100,000 square meters of gross floor area, offering a mix of retail, dining and entertainment options.

SM City J Mall has already preleased approximately 80 percent of its gross leasable area. Anchor tenants include the SM department store, SM hypermarket, SM Appliance Center, Watsons, Uniqlo, Levi’s, Miniso, pet Express, Sports Central, Ace hardware, BDo and Chinabank.

The mall will feature two Director’s Club cinemas, a curated food hall and unique lifestyle services. The building is also designed to provide ample parking for a thousand vehicles. VG Cabuag

Prime Energy secures certification for SC 38

By Lenie Lectura @llectura

PR iME Energy Resources Development B.V., operator of Service Contract (SC) 38, or the Malampaya deep water gas-to-power project, secured a permit declaring its drilling activities as Energy project of national Significance (EpnS).

The Malampaya phase 4 project of the Razon-led firm involves the drilling of the Camago and Malampaya East production wells, dubbed “project Sinagtala,” and the drilling of the Bagong pag-Asa exploration well.

The Department of Energy (DoE) issued the EpnS certificate to prime Energy.

zon’s energy demand at its peak and continues to power about 20 percent of its current requirements. Malampaya phase 4 is a key initiative to extend the gas field’s life and sustain the country’s energy requirements.

Airlines. This alliance allows us to enhance our service and elevate the travel experience for our passengers traveling between Manila and new york, as well as nearby cities in new Jersey and Connecticut, and throughout the US East Coast and Midwest.”

The new Terminal one, part of a $19-billion project to modernize JFK, is set to become the airport’s largest terminal, covering 2.6 million square feet. it is being constructed in phases, with its first gates and the new arrivals and departures halls expected to open in 2026, and full completion

anticipated by 2030.

“We are delighted to welcome philippine Airlines to our growing family of airlines at the new Terminal one,” The new Terminal one at JFK CEo Jennifer Aument said.

“our teams share a strong commitment to customer experience, and we look forward to working together to elevate the curb-to-gate experience for philippine Airlines customers flying to and from new york.”

pAL is the only carrier directly linking the philippines to the US East Coast, offering thrice-weekly flights between Manila and JFK aboard its Airbus A350-900 air -

craft. These nonstop services cater to the large Filipino community in new york and surrounding areas, as well as to business and leisure travelers.

“We stay committed to creating a seamless and memorable journey, reflecting our dedication to excellence in every flight,” ng said.

The new Terminal one is envisioned as a global gateway, designed to rank among the top 5 airport terminals in the world. The terminal will feature expansive, naturally lit spaces, state-of-the-art technology, and various amenities aimed at making it a top-tier travel hub.

Ernest Cu steps down as CEO of Globe

GLoBE Telecom inc. president and CEo Ernest L. Cu is stepping down from his post, more than a decade since he was first appointed to steer the company to become a leading mobile provider in the philippines.

Cu will step down in April 2025, 16 years since he assumed the position. Carl Raymond R. Cruz, a telco executive in Africa, has been appointed as deputy CEo effective January 1.

Cruz is expected to be formally nominated as globe’s new president and CEo during the company’s annual stockholders meeting in April.

Until then, Cu will continue to serve as CEo while focusing on guiding corporate strategy and ensuring that the company’s broader growth objectives are met.

“We welcome Carl to globe. he has a solid track record as a strategic and transformational business leader who delivers business growth,” Cu said.

“Meanwhile, i will remain focused on guiding our corporate strategy, ensuring we advance the broader growth agenda while Carl will assume the responsibilities of overseeing the day-today operations and take on an essential role to accelerate our momentum, enhance the execution of key strategic priorities, and further strengthen our leadership team.”

After the leadership transition, Cu

will maintain his role as chairman for several globe subsidiaries, including 917Ventures, Mynt (the holding company of gCash), Kickstart Ventures inc., and STT gDC philippines.

“i am very honored to be given the opportunity to be part of the globe organization. i look forward to working alongside Ernest and globe’s talented team to drive growth, elevate customer experience, and shape the future of the telco industry,” Cruz said.

Cruz most recently served as CEo and managing director of Airtel nigeria, the largest operating company of Airtel Africa. Despite macroeconomic challenges, he expanded the company’s subscriber base and mobile data business.

Before his foray into telecommuni-

cations, Cruz held key leadership positions in Unilever, including stints as managing director for Unilever West Africa, CEo of Unilever nigeria, and Chairman of Unilever Sri Lanka. his career at Unilever also included serving as Vice president for Customer Development (Sales) at Unilever philippines. globe recorded flattish profits in the first half of the year, even as it reported robust earnings that were “counterbalanced” by the rise in depreciation expenses and the one-time gain it posted the year prior.

The company’s net income stood at p14.5 billion as of end-June, a percent more than the p14.4 billion versus the same period last year. its core net income, which strips off one-time gains and losses, was up 18 percent to p11.71 billion from p9.95 billion the year prior, as globe recorded a two-percent increase in service revenues to p82.23 billion from p80.40 billion. globe’s normalized net income after tax stood at p11.92 billion, a 19-percent growth from p10 billion the year prior.

During the first six months of the year, globe spent p28.3 billion in capital expenditures, a 25-percent decline from the same period last year. g lobe has reduced its capex by 23 percent to $1 billion this year to achieve positive cash flow by 2025. Lorenz S. Marasigan

“We are honored to receive the E pn S certification from the Department of Energy. This milestone reaffirms Malampaya’s importance in securing the p hilippines’ energy future. As we advance with p hase 4, our focus remains on ensuring sustainable and reliable energy for millions of Filipinos,” p rime Energy p resident Donna Kuizon Cruz said.

The Malampaya gas project has contributed over $13.8 billion to the philippine government since its commercial operations began. The project remains a cornerstone of energy security and economic development, fueling as much as 40 percent of Lu-

AB oi T iz Construction is teaming up with the DiCT

Bulk Terminal inc. (DBT i) to develop a new berth for cement shipments at the Davao international Container Terminal (DiCT) located in panabo City, Davao del norte.

A partnership signing ceremony took place last october 15 at Damosa Diamond Tower in Davao City.

The project involves the design and construction of DiCT’s 5th berth, under its subsidiary company, DBT i, a joint venture between DiCT and philcement Corp. The berth will span 200 meters in length and 18.5 meters in width. Equipped with a state-of-the-art material handling system and fendering systems, the new berth will be capable of accommodating vessels with a deadweight tonnage of up to 60,000.

This facility will primarily serve as a port for cement and cementitious materials, carrying out Aboitiz Construction’s mission of building a better future through quality structures.

“This project marks an important step in our ongoing mission to improve logistics in the region and contribute to the region’s economic vitality. We have previously partnered with DiCT, and we are excited to renew our commitment to this collaborative journey,” Aboitiz Construction Coo Ramez Sidhom said in a statement.

The project is expected to be completed within 10 months, with

“The acceleration of Malampaya phase 4 is critical to ensuring energy security and preventing potential power shortages in the future,” said Cruz. She also highlighted the importance of indigenous natural gas as the cleanest, most climate-resilient fossil fuel for power generation, supporting the transition to a lowcarbon economy. phase 4 aims to extend gas production through two additional wells, extending the Malampaya field’s operational capacity and mitigating the philippines’s reliance on imported fuels such as coal, diesel and liquefied natural gas. Cruz acknowledged the critical partnerships that have enabled the progress of phase 4, noting that the continued success of the Malampaya project is made possible through strong collaboration between the private sector and the government. prime Energy has a 40-percent interest in SC 38. other consortium partners include UC38 LLC and pnoC Exploration Corp. SC 38 was extended by another 15 years.

approximately 170 personnel to be hired for the construction phase. notably, 50 percent of these positions will be filled by local hires, underscoring the company’s commitment to providing jobs to local communities.

“This partnership signals another important milestone between our two groups as this is the fifth project we have undertaken together. For DiCT, this is also a significant undertaking as we look to continue diversifying the products and commodities that can be transported directly to the Davao Region,” said DBT i president Ricardo Lagdameo.

Currently, D i CT operates a 730-meter berth, with 130 meters designated for breakbulk and 600 meters for container vessels. The port also features a 20-hectare container yard and a 15-hectare empty container depot. Aboitiz Construction has been a long-standing partner of DiCT, having successfully completed its Berth 4 project in 2021. This project significantly reduced the turnaround time for vessel loading, allowing more ships to dock at the terminal and facilitating the efficient movement of agro-industrial products in and out of the region.

“This latest collaboration reinforces Aboitiz Construction’s dedication to developing quality structures that foster long-term growth and economic development in the region.”

This BusinessMirror file photo shows the Malampaya Deep Water Gas-to-Power Project, located 50 kilometers offshore Northwest Palawan.

ErNEsT L. Cu

HE Department of Finance

T(DOF) announced it would find ways to secure an additional P16.98 billion to bankroll various health-related projects and programs of the Department of Health (DOH).

In a statement on Thursday, the DOF said Finance Secretary Ralph G. Recto and Health Secretary Teodoro J. Herbosa discussed funding support for DOH’s additional health projects.

“Our job at the DOF is to find sufficient funding for government expenditures that amount to P15.8 billion per day this year. One of the most important aspects of this is health projects and programs that directly promote the welfare of every Filipino,” Recto was quoted in the statement as saying.

Among the proposed projects is the P14.31 billion Health Facilities Enhancement Program, aimed at providing infrastructure, medical equipment and transport vehicle support to local government units, DOH hospitals and other health facilities.

To support the laboratory functions of the DOH in disease surveillance and offer training in RT-PCR, biosafety, drug testing, water analysis and HIV testing, the Operations of the Philippine Health Laboratory System worth P136.0 million is also on the table.

The DOH also proposed a P292.03-million budget allocation for the Regulation of Regional Health Facilities and Services to monitor compliance and provide technical assistance and advisory services to stakeholders about health facility regulation.

About P315.72 million was also included in the lineup of projects to hire immunization vaccinators to achieve the 95 percent Fully Immunized Child target.

Further, P467.20 million for the

Health Promotion Program to improve health literacy and execute health promotion policies and programs was also suggested.

Another DOH proposal included is the P10.10 million for International Health Policy Development to strengthen partnerships with global health organizations, and P10 million for the Health Facility Policy and Plan Development to improve health services through standards formulation.

Meanwhile, the Pharmaceutical Management initiative amounting to P20 million was also introduced to enhance access to medicines.

The DOH is also pushing for Health Sector Governance worth P65.10 million, P1.16 billion for the Philippine Multi-Sectoral Nutrition Project and P102.66 million in funding for the Health System Enhancement to Address and Limit COVID-19 (HEAL) I project.

“These projects are aligned with DOH’s 8-point Action Agenda, which serves as our springboard to advance universal health care for all Filipinos,” Herbosa was quoted in the statement as saying.

Recently, the DOF secured P27.92 billion in financing for the Philippines: Health System Resilience Project Phase One, approved by the National Economic and Development Authority (NEDA) Board.

The Finance department also sourced P27.50 billion through the sweeping of state-run corporations’ idle funds, such as the Philippine Health Insurance Corporation and the Philippine Deposit Insurance Corporation.

The funds were used to pay the long-overdue benefits and allowances of health care and non-healthcare front liners during the pandemic, settling in full a total of 10.64 million claims worth P121.30 billion.

Reine Juvierre Alberto

Top regulators call out risks in private credit

TOP financial regulators around the globe are voicing concern about private credit valuations, whether lenders are hiding troubled loans, and the deep entanglement between private markets and insurance money.

“Valuation risks are where we see a core issue,” Andrew Dean, the co-chief of the Division of Enforcement Asset Management at the US Securities and Exchange Commission, said during a Bloomberg regulatory forum in New York City last Tuesday. Dean was joined by regulators from the European Central Bank and the International Monetary Fund, who also emphasized a need to prod private credit firms about portfolio valuations and warned of potential issues arising from redemptions.

Regulators have warned about a lack of transparency around private loan valuations and potential liquidity mismatches over the last year or so, as the market has ballooned to $1.7 trillion in size and interest rates have remained high. Some, including the ECB, have gone further to scrutinize how banks, private equity firms and insurers are tied to private credit, and how a lack of transparency could affect those groups.

The ECB has asked around a dozen lenders for more information on their private credit exposures, Bloomberg reported last month. In the UK, the Financial Conduct Authority launched a review of private asset valuations last year, while the Bank of England has also warned that the opaqueness of private equity valuations could jeopardize financial stability.

IC revokes insurance firms’ provisional authority to sell

By Reine Juvierre Alberto @reine_alberto

THE Insurance Commission (IC) has rescinded its 2009 and 2011 orders and revoked the provisional authority of insurers, mandating that only licensed agents are permitted to sell insurance products.

Insurance Commissioner Reynaldo A. Regalado issued Circular Letter (CL) 2024-21 on October 21 to clarify that other CLs allowing Provisional Authority are no longer in effect.

“There is a need to ensure that

THE Department of Agrarian Reform (DAR) announced its personnel in Camarines Sur recently signed a Memorandum of Agreement (MOA) with the Social Security System (SSS) for social security coverage of job orders and contractual employees.

The partnership aims to ensure social security protection to all DAR employees, regular or not, through the SSS, according to the DAR. The

HSBC Holdings Plc warned it will likely cut senior manager jobs as the lender embarks on one of its biggest restructurings.

“As we integrate the businesses, there will inevitably be a reduction in duplicated roles, particularly at senior levels,” Chief Executive Officer Georges Elhedery said in a memo to his staff.

“Systemic risk is something we think about,” Elizabeth McCaul, a member of the supervisory board at the ECB, said on the panel.

The regulators, who expressed apprehension around leverage and an uptick in borrowers deferring payments through so-called payment-inkind loans, narrowed in on concerns that private credit is not silo-ed from broader financial systems.

The SEC’s Dean used Credit Suisse Group AG’s loss after the collapse of Archegos Capital Management as “one example of why we care about the systemic risk,” he said.

Charles Cohen, an adviser at the IMF, said the fund wanted to “know more about the interconnectedness with private credit and insurance,” as insurers allocate more capital to “illiquid assets.”

“Given the growth, the stakes are real because more and more, we see private fund investors including retirement accounts and endowments with real people standing behind those,” Dean said.

For the SEC, private credit deals are “illiquid level-three assets,” he said, defined as the most illiquid and the most difficult to value. While there hasn’t been a downturn for private credit, Dean pressed for more transparency and an ability to “stress test.”

“Private markets reminds me of the Taylor Swift lyrics: ‘Nothing lasts forever but things are getting good now’,” Dean said. “It will last as long as the riskadjusted returns are there.” Bloomberg News

Europe’s biggest lender on Tuesday unveiled a broad restructuring across different business lines and geographies as the newly appointed Elhedery embarks on an ambitious effort to cut costs at the bank.

The overhaul will mean that some senior roles will be made redundant, while the bank will work to minimize the impact on front-line customer facing roles, according to a person familiar with the matter.

HSBC couldn’t immediately be reached for a comment.

The announcement on Tuesday

OPTIONS traders are increasing bets that Bitcoin will reach a record high of $80,000 by the end of November no matter who wins the US presidential election.

The implied volatility for Bitcoin options coming due around the November 5 election day is elevated, with the wagers skewed toward call options that give the buyer the right to buy the cryptocurrency at new highs.

“I believe the market consensus is that Bitcoin is likely to perform well regardless of the election outcome,” said David Lawant, head of research at crypto prime broker FalconX. “Our analysis shows that options activity surrounding the upcoming elections exhibits a notable topside-heavy bias.” Open interest for call options expiring on November 29 is concentrated around a $80,000 strike price.

Republican candidate and former President Donald Trump is avowedly pro-crypto, so much so that Bitcoin is viewed as a so-

only individuals duly licensed by this Commission are engaged in business as insurance agents,” Regalado said.

According to the regulator, this change is due to the implementation of the enhanced licensing sys -

Government Service Insurance System (GSIS) covers all regular DAR employees.

Provincial Agrarian Reform Program Officer (PARPO) II Ricardo C. Garcia said the initiative will cover Job Order (JO) and Contract of Service (COS) personnel to strengthen the support system for government employees and ensure their longterm financial security.

“The partnership grants perma-

nent, JOs and COS employees additional essential retirement package, sickness and death benefits, aside from the one provided by the GSIS,” Garcia said.

Under the agreement, the SSS shall register the permanent employees of the DAR, JOs and COS personnel as SSS self-employed members.

The DAR will remit their monthly contributions through an automatic

stumped some employees, who wondered how they would fit under the new structure, people familiar with the matter said. The lack of specifics on the financial impact was also

called Trump trade. Democratic rival Vice President Kamala Harris has vowed to support a regulatory framework for the industry. That contrasts with a crackdown on the sector under the Biden administration. Nonpolitical factors such as further rate cuts by the Federal Reserve are seen contributing to the optimism.

Testing $70,000

BITCOIN reached an all-time high of $73,798 in March amid optimism about demand for dedicated exchange-traded funds that launched in the US this year. The bull run subsequently moderated.

The largest cryptocurrency came close to $70,000 at the start of the week before dropping back. The token, which has jumped about 60% this year, changed hands at $67,100 as of 6:03 a.m. in London on Wednesday.

The put-to-call ratio is trending lower toward the end of the year, with more traders buying

questioned by investors. HSBC said it wouldn’t be providing further details until it announces full-year results in February. The lender will combine its global

call options than puts, according to data compiled by the largest crypto options exchange Deribit.

“We see traders buy calls near 68k and puts near 66k, in other words, many continuously position and reposition for a breakout for either end,” said Yev Feldman, co-founder at SwapGlobal, which provides derivatives such as swaps and options, to the US digital-asset investors. “There is limited reason to collapse downwards after the election, so up makes more sense.”

The open interest, which is the total amount of outstanding contracts, for the call contracts expiring on Nov. 29 is concentrated around $80,000 with the second most popular strike price at $70,000. The open interest for the calls expiring on Dec. 27 is clustered around $100,000 and $80,000, while the most popular strike price of the calls expiring on Nov. 8 is at $75,000, the data shows.

Higher premiums

CALL options are also commanding relatively higher pre -

salary deduction scheme to qualify them for benefits and privileges under the Social Security (SS) and Employees’ Compensation (EC) programs. The collaboration highlights both agencies’ shared commitment to safeguarding the public servants’ welfare, reinforcing the government’s efforts to provide comprehensive social protection for its workforce. Jonathan L. Mayuga

commercial and institutional banking operations under Michael Roberts. In its new geographic set up, HSBC will have an Eastern regional unit including Asia Pacific and the Middle East, and a Western market that includes its non-ring-fenced bank in the UK, Europe and the Americas. It also made Hong Kong and UK standalone units.

Elhedery is under pressure to lower costs in order to protect the firm’s margins as central banks around the world begin to cut interest rates. The overhaul will cut the number of executives who sit on the newly named key operating committee to 12 from 18. Some key executives already announced their exits as part of the restructuring. They include Stephen Moss, who runs Middle East and North Africa, along with Colin Bell, who led operations across Europe. Bloomberg News

miums compared to their put counterparts based on the skew term structure, which indicates the pricing dynamics between calls and puts. At a higher level, options traders have driven call premiums across nearly all tenors beyond one-day expiration contracts, Jake Ostrovskis, an over-the-counter trader at Wintermute, wrote in a Monday note. “This indicates that investors are leveraging the options market more as a tool for capturing potential upside rather than as a hedge against downside risks,” Lawant said. “For non-Bitcoin crypto assets, I see opinions more divided. The market shows less consensus on how these alternative cryptocurrencies might perform under different electoral scenarios.”

Unlike other major events such as the launch of Bitcoin ETFs and the halving, volatility before and after the election is muted, though it may change as the date nears, Lawant said. Bloomberg

The hSBC holdings Plc headquarters in London. CREDIT: PhoTogR aPhER hollIE aDams/BloomBERg

Health& Fitness

Children, youth most vulnerable to e-cigarettes online—study

By Bless Aubrey Ogerio

Social media posts from e-cigarette brands in the Philippines feature marketing tactics that predominantly appeal to children and young people, a new study has revealed.

A report by the Johns Hopkins u niversity Institute for tobacco Control found that these posts heavily rely on marketing strategies like emoticons (70 percent), cartoons (19 percent), influencer and celebrity endorsements (nine percent), and depictions of partying (four percent).

b rands also employed engagement techniques commonly used for consumer products, including user interaction (39 percent), co-marketing (28 percent), contests and giveaways (19 percent), influencers (eight percent), and monetary promotions such as discounts (six percent).

More than half (53 percent) of the posts did not feature any health warnings, while 47 percent only included text warnings rather than graphic images.

Age inconsistencies were also highlighted in the study, as almost half of the posts (45 percent) mentioned a 21-and-above age restriction, while one-third (34 percent) failed to specify any age limit.

Another 12 percent used general prohibitions, such as “not for sale to minors,” while 10 percent mentioned an 18-and-above restriction.

‘Protecting young ones’

REP ub LIC Act 11900, also known as the Vape Law, prohibits the sale and promotion of vape products within 100 meters of areas frequented by minors. It also bans the use of flavor descriptors and cartoon characters in the packaging and marketing of these products.

However, the study revealed a troubling trend in online promotions. Many vape shops continue to advertise products with flavors appealing to children, including concept flavors (57 percent), fruit flavors (56 percent), sweets (29 percent), and mint (23 percent), all packaged with colorful designs.

In August, health organizations criticized the transfer of regulatory authority over vapes from the Food and Drug Administration (FDA) to the Department of trade and Industry (D t I)

under the Vape Law. Child rights advocates have raised concerns over the Vape Law’s reduced age restriction for e-cigarettes from 21 to 18, and its allowance for online sales and marketing, which they argue exposes more young people to the dangers of nicotine addiction.

Tobacco industry propaganda

t HEY also condemned what they described as tobacco industry “propaganda,” which promotes vaping as a safer alternative for smokers. t hey claim this marketing strategy has contributed to an alarming increase in nicotine addiction among school-aged children in the Philippines.

t he country recorded its first death linked to E-cigarette or Vaping Product u se-Associated Lung Injury (EVALI) in May this year. t he victim, a 22-year-old male with no prior health issues, suffered a fatal heart attack after a severe lung injury tied to his two-year vaping habit.

In light of such cases, advocates are calling for the restoration of child protection measures that were removed by the Vape Law, urging the government to return regulatory oversight to the FDA, raise the minimum age for purchasing both e-cigarettes and traditional cigarettes to 21, and ban flavored e-cigarettes, online marketing, and advertising altogether.

t he study examined over 5,500 publicly visible e-cigarette posts in the Philippines between August 2022 and January 2023.

Leptospirosis cases on the rise; public told to avoid flood water

By Claudeth Mocon-Ciriaco

About 1 million cases of leptospirosis in people occur around the world each year, with nearly 60,000 deaths.

Leptospirosis is a disease caused by bacteria that affects people and animals and according to Center for Disease Control and Prevention it spreads in the urine (pee) of infected animals.

t he Department of Health (D oH) reported an increase in new leptospirosis cases nationwide from September 8 to 21, 2024 at 774 new cases, twice as high as the 381 new cases reported from August 25 to September 7.

All regions, except Central Visayas, Northern Mindanao, S o CCSKSARGEN, and Caraga, have shown an increase in cases over the past three to four weeks up to o ctober 5.

While there have been 509 reported deaths thus far, the number is 11 percent lower than the 570 deaths recorded during the same period last year.

TBy Rory Visco | Contributor

H e Mayo Clinic, touted as the largest integrated, not-for-profit medical group practice in the world, emphasizes the value of regularly checking blood pressure, an imperative element in the management of high blood pressure or hypertension.

It said that self-monitoring can help in early diagnosis of high blood pressure and is “especially important for people with elevated blood pressure or other conditions that could cause high blood pressure, such as diabetes or kidney problems.”

It added that to know “whether your lifestyle changes or medicines are working is to check your blood pressure regularly. Keeping track of blood pressure changes at home can help you and your care team make decisions about treatment, such as changing the dose or the medicine,” and may even help cut healthcare costs by reducing the number of medical consultations.

Prevention is key

TH e key word is all about prevention, and “that’s one of the reasons why we want to do blood pressure monitoring so that we will know how to prevent possible issues regarding our blood pressure,” says d r. Lyien Patricia Pascual, PTRP, a medical doctor and popular content creator known as “ d r. Lyien Ho,” in her talk during the launch of the latest smartwatch device from Huawei, the Huawei w atch d 2. Blood pressure is the pressure that the heart exerts against the arteries or the blood vessels, and monitoring blood pressure is important primarily when there are changes brought about by one’s lifestyle.

She said that around 12 million Filipinos have hypertension and the number is still increasing, while around 65 percent of them are aware that they have it and 37 percent are already undergoing treatment. The good news is that 13 percent have reached their target blood pressure level. However, d r. Pascual said they follow certain criteria

As of o ctober 5, 2024 (Morbidity Week 40), total leptospirosis cases have reached 5,835, marking a 16 percent increase from the 5,050 cases reported during the same period last year.  “As we expect more rain to come, we must always be mindful of what to do especially if there is flooding. Avoid floodwaters as much as possible. If one has to go through them, seek consultation immediately even if without wounds or symptoms. Wear closed and protective footwear and wash exposed skin to lower the risk of leptospirosis infection,” said Health Secretary teodoro J. Herbosa.  Without treatment, leptospirosis in people can lead to kidney damage, meningitis (inflammation of the membrane around the brain and spinal cord), liver failure, troubled breathing, and even death.

Signs and symptoms IN people, leptospirosis can cause a wide range of symptoms, including fever, headache, chills,

to know if a person is hypertensive or not, like a person cannot be deemed suffering from hypertension in just one visit to the hospital or clinic. She said it should be two to three consecutive visits and consistently registering high blood pressure readings before one can be considered as hypertensive.

Types of hypertension

d R. Pascual also discussed some of the more common types of hypertension. One is the “essential” hypertension, but this is highly different from the book definition of essential. It is called “essential” because it is primary. “In the medical world, when we say primary, most of the time the cause is unknown or there’s no direct cause. It can be due to weight, vices, etc.”

There is the secondary hypertension, or those with an underlying disease or “co-morbidity.” This means the high blood pressure is due to certain ailments like diabetes, high cholesterol, liver issues. The third is the “white coat” hypertension or “white coat syndrome,” where the patient’s blood pressure is elevated whenever they visit a doctor’s clinic, but becomes normal when they get home, most likely caused by nervousness when facing a doctor. But that doesn’t end there, d r. Pascual said, because the patient will be told to undergo necessary blood tests as well, a complete work up, she pointed out, because hypertension does not only affect blood vessels but can also affect other organs of the body.

Ambulatory blood pressure monitoring

TH e R e are many ways to monitor blood pressure, such as the in-clinic blood pressure monitoring, the at-home monitoring through the use of digital blood pressure monitors. Then there is what is called “ambulatory” blood pressure monitoring or ABPM. d r. Pascual said it is called as such because monitoring can be done even while doing certain activities or movements, unlike the other two where the patient has to be immobile or stationary.

w ith ABPM, she said the patient is actually encouraged to do physical activities, like going back to their

Sweden-PHL partnership to revolutionize cancer care in Bataan and beyond

By Candy P. Dalizon Contributor

Sweden and the Philippines have formed a strategic partnership to enhance cancer care in the Philippines. This collaboration will focus on raising awareness, promoting prevention, enabling early detection, and improving access to innovative treatments.

The province of Bataan will be the launching pad for this new era of cancer care, setting a benchmark for the entire Philippines.

“Sweden and the province of Bataan are partnering up in cancer care, where our key ambition is really to support the government of Bataan to transform cancer care, to have it ideally a benchmark for nationwide adoption, so that we could copy whatever we do in Bataan and apply it to the different provinces,” said Lina Balsyte, Business Sweden Healthcare Lead for Southeast Asia.

She added that they want to start in a small geographic unit to ensure their efforts have a real impact.

Signing ceremony

TH e Sweden-Philippines partnership in cancer care was formalized through a Letter of Intent (LOI) signing ceremony held last October 18, 2024, in Makati City, witnessed by the State Secretary to the Minister for International d evelopment Cooperation and Foreign Trade of Sweden, Håkan Jevrell and d r. Jan Aura Llevado, Chief, Cancer Control and Mental Health d ivisions, d epartment of Health.

“Under Sweden’s strategy for trade, investment and global competitiveness and its new and long-term promotion initiative in Asia, Sweden is strengthening its engagement in the Philippines with a capacity-building agenda across several industries,” said Jevrell.

body or muscle aches, vomiting or nausea, yellowed skin and eyes (jaundice), red eyes, stomach pain, diarrhea and a rash.

Many of these symptoms can be mistaken for other diseases. Some people have no symptoms.

It generally takes two to 30 days to get sick after having contact with the bacteria that cause leptospirosis. t he disease may occur in two phases.

In the first phase, people may have fever, chills, headache, muscle aches, vomiting, or diarrhea. t he person may feel better for a while but become ill again.

Some people may suffer a more severe second phase with kidney or liver failure, or inflammation of the membrane around the brain and spinal cord (meningitis).

“It is better to be healthy after a visit to the health center, than be admitted later for dialysis at a hospital because of Leptospirosis,” the health chief added.

usual work or routine while the ABPM device, usually the size of a portable music player that was popular in the late 70s to the late 90s, is attached to the body 24 hours a day. However, she said some people found attaching the device to the body uncomfortable, especially when they are working since the device does its “pumping” motion every 30 minutes.

“Uncomfortable as it may be to some, this is very important because this is one of the ways for us to know what type of hypertension a person has. w ith this, we can trace if hypertension happens during physical activity, or blood pressure is low if resting or sleeping, or if it’s high even while sleeping,” she said.

She emphasized that ABPM will determine if a patient really has hypertension, and is absolutely a preventive measure since it can help the doctor find the right medication. “It’s preventive, therapeutic, and also helpful not only for the doctors but also for the patient.”

“Watch” your health

ACCOR d I n G to Jose e mmanuel Ramos, Huawei senior product expert, it is important to take action for your health through constant blood pressure monitoring, and that is where the Huawei watch d2, the first ever smartwatch in the Philippines with ABPM capabilities.

Ramos said the Huawei watch d2 has six sensors compared to the previous four for improved accuracy. w hen asked by BusinessMirror in terms of accuracy, Ramos said though it is not a medical device, when they compared it to an actual ABPM, the accuracy is at about ±5 percent. w ith the Huawei watch d2, Ramos said blood pressure monitoring, including the measurement, tracking, and monitoring of eight other health indicators such as heart rate, blood oxygen, stress, skin temperature, e CG, vascular elasticity, pulse wave arrhythmia, and sleep apnea detection, is now made possible via a smartwatch designed for comfortable, all-day wear. However, Ramos reiterated that the watch is a non-medical device that should not replace diagnosis and treatment from medical professionals.

advanced radiation therapy to our province, significantly enhancing our ability to treat cancer. This letter of intent marks the beginning of a transformative journey for Bataan,” added Garcia.

Advancing cancer care in Bataan AS TH e leading healthcare institution in the province, BGHMC is dedicated to advancing cancer care across all stages in Bataan. This includes early detection and diagnosis, health promotion, cancer prevention, cancer surgery, chemotherapy, radiotherapy, as well as palliative care and pain management.

d r. Glory V. Baltazar, BGHMC Medical Center Chief II, said they aim to start the partnership by creating a comprehensive cancer registry. They also look forward to working with Swedish cancer specialists known for their expertise and patientcentered care.

The Sweden-Philippine partnership follows the quadruple-helix model, fostering collaboration among government, academia, industry and civil society in both countries. The LOI was signed by the Provincial Government of Bataan, Bataan General Hospital, Business Sweden – The Swedish Trade & Invest Council, Cancer Coalition Philippines, AstraZeneca, e lekta, and e ricsson. The three industry partners, AstraZeneca, e lekta, and e ricsson, intend to further drive their commitment to the healthcare sector in the Philippines.

“Our team at AstraZeneca is inspired by our ambition to provide cancer cure through our lifechanging medicines, alongside partnerships that allow early detection, diagnosis, and equitable care for Filipino patients with cancer,” said Lotis Ramin, AstraZeneca Philippines Country President.

Global experience

“Cancer has emerged as one of the leading causes of mortality in the Philippines, with lung cancer leading in males and breast cancer in females. And as a global leader in cancer care, Sweden is confident that this partnership will contribute to enhancing cancer care in the Philippines and ultimately improving patients’ access to healthcare,” he added.

Bataan Governor Jose e nrique Garcia III said the cancer care partnership with Sweden complements Bataan’s role in implementing the national government’s universal health coverage rollout.

“ we’re thrilled to be the pilot province for this collaboration and look forward to leveraging Sweden’s expertise in cancer management to enhance patient outcomes, alleviate pressure on the healthcare system, and deliver health and socio-economic benefits to Bataan,” added Garcia.

IT, AI solutions

GAR CIA said the collaboration with Sweden will also incorporate IT and AI solutions, facilitated by e ricsson, to enable remote access to specialized cancer care, connecting patients to Bataan General Hospital and Medical Center (BGHMC), the apex facility for cancer treatment in the province.

“This innovative approach will ensure that every ‘Bataañeno’, regardless of their location, can receive the care they need,” said Garcia.

He pointed out that Sweden’s expertise in early detection, telemedicine, and AI will definitely help improve cancer outcomes in Bataan.

“Additionally, I believe we are exploring a grant for a Linear Accelerator which would bring

TH e d epartment of Science and Technology (d OST) emphasized the need for Filipinos to take care of their bones in light of the growing risk of osteoporosis in the country.

In observance of world Osteoporosis d ay last October 20, d OST Secretary Renato Solidum said that one of the most effective ways to prevent the condition that weakens bones is through adequate calcium intake.

“Calcium is an essential nutrient for maintaining bone strength. However, many Filipinos do not meet the recommended levels of calcium in their diet, increasing the risk of developing brittle bones,” he said in a statement.

Based on the 2021 e xpanded n ational n utrition Survey conducted by the Food and n utrition Research Institute, nine out of 10 Filipino adults and seniors do not meet the recommended calcium levels in their diet, increasing their risk of developing brittle bones.

The Philippine College of e ndocrinology, d iabetes, and Metabolism also indicated that the 2003 n ational n utrition Health Survey found that osteoporosis affected 0.8 percent of Filipinos aged 60 to 69 and 2.5 percent of those over 70.

Higher incidence in women THe data further revealed that women have a higher

A S a world leader in telecommunications and technology, e ricsson brings global experience in utilizing mobile connectivity to accelerate digital transformation in industries, such as healthcare.

“In particular, 5G connectivity has the potential to revolutionize various aspects of healthcare and enhance patient outcomes, such as telesurgery and remote diagnostics. we have seen this in our partnerships with leading health institutions worldwide,” said d aniel Ode, Head of e ricsson Singapore, Philippines, and Brunei. we are looking forward to working with the partners in this initiative to bring Sweden’s leadership and expertise to enable remote healthcare to the Philippines,” he added.

Leader in precision radiation therapy, e lekta, aims to contribute to the improved cancer center workflow and enhanced user experience to simplify complex cancer care.

“Our purpose at e lekta is to provide hope for everyone dealing with cancer, we envision a world where everyone has access to the best cancer care,” said Samuel Lee, e lekta Managing d irector S e A.

“Through this partnership, we aim to elevate the level of radiation therapy treatment techniques through collaborating with healthcare institutions on introducing advanced radiation therapy technologies and educational programs to upskill clinicians working in the field of radiotherapy,” shared Lee.

The goal of the Sweden-Philippines cancer care partnership is to foster collaboration in cancer prevention, early detection, treatment, research, and capacity building between Sweden, the Philippines, and international partners.

incidence of fractures (11.3 percent) compared to 9.0 percent among men.

To lower this trend, the science and technology agency encouraged Filipinos to eat more calciumrich foods such as fish, shellfish, cereals, green leafy vegetables, and dairy products. They also recommended getting morning sun exposure from 7 am to 9 am to activate vitamin d, which helps the body absorb calcium, as well as adding physical activity to daily routine, even something as simple as walking, dancing, or playing sports.

“Through the addition of sufficient calciumrich food into our diet and maintaining a balanced lifestyle, we can reduce the risk of Osteoporosis and make every Filipino enjoy strong bones, leading to a healthier and more productive life,” the d OST chief said.

world Osteoporosis d ay was first celebrated on October 20, 1996, initiated by the United Kingdom’s n ational Osteoporosis Society. The campaign was adopted by the International Osteoporosis Foundation (IOF) the following year, which has led worldwide efforts

Editor: Anne Ruth Dela Cruz

Envoys&Expats BusinessMirror

Australia’s foreign affairs, trade secretary visits PHL

AUSTRALIA’S Secretary of Department of Foreign Affairs and Trade (DFAT) Jan Adams

AO PSM was recently in the country to launch the “Philippines-Australia Development Partnership Plan 2024-29.”

Adams also met senior government leaders and officials last week, as she highlighted the two countries’ close ties under their “Strategic Partnership.” With the new Development Partnership Plan, Australia is investing in inclusive programs that are responsive to the Philippines’ development needs, according to the former’s embassy. It prepared the plan in partnership with the National Economic and Development Authority, and through close consultations with more than 50

stakeholders—including the Philippine government, development partners, academia, civil society organizations and the private sector. Australia’s development partnership with the Philippines is its fifth-largest worldwide, amounting to AU$94.2 million (P3.6 billion) in Financial Year 2024-25. In the last 20 years, the commonwealth has contributed over AU$1.6 billion (P63 million) for the latter under the same purpose. During her two-day visit, Adams

met Defense Secretary Gilberto Teodoro Jr., Trade Secretary Cristina Roque, National Security Advisor Eduardo Año and other senior government representatives, including those from the Department of Foreign Affairs. The embassy shared that meetings advanced shared priorities, including deep strategic defense ties and an ambitious trade

and economic agenda. Adams received welcome honors during her visit to the Philippine Coast Guard Headquarters in Port Area, Manila. During her visit to the PCG, Australia’s DFAT head led the gifting of 21 ultracompact marine radios to support the communication needs of the Coast Guard’s Palawan District.

Danish firm gets 1st pre-devt env. compliance, natl significance certs for offshore wind project

THE Department of Environment and Natural Resources (DENR) has awarded Copenhagen Infrastructure Partners (CIP) with the first pre-development environmental compliance certificate (ECC) for any offshore wind project in the Philippines.

CIP is the first developer to submit a comprehensive pre-development ECC, and eventually the first to obtain the certificate. The certificate will enable CIP to initiate offshore geotechnical works and geophysical surveys for its “1GW San Miguel Bay Offshore Wind” project in Camarines Sur. These activities, according to the Danish Embassy, are key in determining the proposed offshore wind farm’s design and layout.

An ECC is a requirement for all renewable-energy projects, including offshore wind, to ensure adherence to the Philippines’ environmental rules and regulations, as well as alignment to global industry standards. The award follows the successful deployment of state-of-the-art scanning and vertical Light Detection and Ranging devices in its Camarines Sur project sites last May.

“We are very pleased to announce the issuance of the ECC

for our pre-development activities,” said Offshore Wind Co-CEO Rune Damgaard of Copenhagen Offshore Partners (COP), CIP’s investment vehicle in the Philippines. “With this in place, we have initiated offshore site surveying—a critical step in advancing the project’s development.”

CIP lauds the continuous partnership between the DENR and the Department of Energy (DOE) in ramping up the offshore wind projects’ exploration and development. In February, Energy Secretary Raphael Lotilla and Environment chief Maria Antonia YuloLoyzaga signed a memorandum of agreement to simplify the ECCs’ issuance for such.

More recently, another memorandum has been signed between the two agencies to provide energy developers access to offshore areas that are available for wind power exploration. CIP welcomes this move as a catalyst in derisking foreign investment on the said projects.

“This pre-development environmental clearance issued by the DENR moves CIP’s offshore wind-development efforts forward, while ensuring strict compliance with environmental regulations,” said Lotilla. “DOE’s

service contractor, CIP, can now proceed with exploration and pre-development activities that are essential in jump-starting the growth of offshore wind in the country and contribute to achieving the Philippines’ longterm energy security objectives.”

Amb. Franz-Michael Mellbin said that he is “happy and proud” that CIP has been awarded the first offshore wind pre-development ECC in the Philippines: “Wind power is one of the ways the government can bring abundant, affordable, and reliable way to every Filipino and ensure continued growth and prosperity for the nation... Working closely together, CIP, the government and international partners will continue to help streamline the necessary approvals and certificates that will allow this and other critical wind power projects to go on-line, in-time.”

Aside from the ECC, CIP’s San Miguel Bay project has also been recognized with a Certificate of Energy Project of National Significance. DOE’s Executive Order 30 qualify EPNS as major energy projects that align with the policy thrusts and specific goals of the Philippine Energy Plan. Further, EPNS are expected to contribute

significantly to economic development and environmental protection, while entailing complex technical processes and infrastructure requirements.

“Additionally, we have been granted the CEPNS from DOE, further solidifying our strong collaboration and shared commitment to realizing offshore wind energy in the Philippines,” said Damgaard.

According to CIP, the recognition of the San Miguel Bay project as an EPNS is crucial in helping the project expedite the development and construction of the grid infrastructure with the National Grid Corporation of the Philippines needed to evacuate energy from the offshore wind farm.

CIP is working to sustain the momentum of its achievements with continued collaboration with the national government agencies and local stakeholders by sharing its expertise in port architecture, logistics, financing and having bankable Power Purchase Agreements. A critical component of offshore wind development will be the construction and operation of marshaling ports and making sure a viable Green Energy Auction Program for offshore wind pushes through in mid-2025.

US donates emergency relief supplies to N. Ecija Edca site

PART of its efforts to boost the Philippines’ disaster preparedness, the United States government—through the US Agency for International Development (USAID)—donated emergency relief supplies to Fort Magsaysay in Nueva Ecija: an Enhanced Defense Cooperation Agreement (Edca) site.

Amb. MaryKay Carlson handed over the emergency relief supplies to Sec. Gilberto Teodoro Jr. of the Department of Defense and Usec. Ariel Nepomuceno, who is the administrator of the Office of Civil Defense (OCD) on September 23. Supplies included emergency shelter-grade tarpaulins; shelterrepair tools such as handsaws, shovels, ropes, hammers, and

and

remains committed to supporting the Philippines as it builds its national and local capacity to prepare for and respond to disasters.”

“The Philippines and the US have a strong alliance,” said Teodoro. “[Such] is demonstrated not just through words, but through concrete actions of cooperation.”

The US also aids the Philippines’ disaster-response efforts by bolstering the latter’s community-based disaster-risk reduction; providing disaster response training; as well as strengthening collaboration between Philippine and US civilian, military and humanitarian agencies.

Since 2010, the US government, through USAID, has provided nearly P19.6 billion ($344 million) in disaster-relief and recovery aid, while boosting disaster risk-reduction capacity nationwide.

SECRETARY of Foreign Affairs

Enrique A. Manalo was in Kuala Lumpur for the resumption of the Philippine-Malaysia Joint Commission Meeting (JCM), which is being convened for the first time since 2011.

Manalo was to co-chair the eighth JCM with his counterpart, Malaysian foreign minister Dato’ Seri Utama Haji Mohamad Bin Haji Hasan on October 16.

In a statement, the Department of Foreign Affairs (DFA) said the reconvening of the JCM would provide a “valuable opportunity to review the progress of bilateral cooperation” since the last dialogue was held in Manila a few months back.

“The [JCM reconvening manifests the deepening of the friendship of the two countries, as well as the expansion of areas of bilateral ties. It] is an operationalization of one of the commitments discussed between Pres. Ferdinand R. Marcos Jr. and Prime Minister Anwar Ibrahim during the twin high-level visits in 2023,” the DFA said.

During the JCM, the two ministers were supposed to discuss “matters of mutual interest to both countries and the Southeast Asian region.”

While in Malaysia, Manalo was

also to attend a diplomatic reception hosted by the Philippine Embassy there to celebrate the two countries’ 60th anniversary of their bilateral cooperation.

Hasan previously met Manalo during his visit to Manila in July and discussed the proposed PhilippineMalaysia agreements. It included sports, cultural cooperation, tourism, higher education, and the development of the Halal Industry. At that time, both sides committed to concluding negotiations on these deals.

After Malaysia, Manalo was scheduled to undertake his first official visit to Thailand on October 18, upon the invitation of Foreign Minister Maris Sangiampongsa.

The two ministers were also slated to hold a bilateral meeting and jointly chair the Ministerial Meeting of the sixth Philippines-Thailand Joint Commission on Bilateral Cooperation: a mechanism established to facilitate cooperation and consultation on a wide array of issues of bilateral and regional concern.

Manalo’s visit to the kingdom coincided with the 75th anniversary celebration of the establishment of diplomatic relations between the Philippines and Thailand.

Joyce Ann L. Rocamora/PNA

PHL

CINE Europa—the annual European Union (EU) film festival in the country—has returned for its 27th edition with its official opening last October 18.

Presented by the Delegation of the European Union in the Philippines with member-states’ embassies, Goethe Institut, Instituto Cervantes de Manila and the Philippine-Italian Association, “Cine Europa 27” promises a diverse selection of films representing the best of Europe’s film industry.

This year’s festival features more than 20 films from EU countries— including Ukraine as a guest. It highlights the unique stories, traditions, and creative voices that shape the continent’s cinematic landscape.

“Cine Europa continues to build bridges between Europe and the Philippines, fostering cultural exchange through the powerful medium of film,” said Amb. Massimo Santoro of the EU Delegation. “This year’s edition offers a glimpse into [the continent’s] rich cultural diversity, showcasing stories that resonate universally with audiences across borders.”

The festival kicked off with an exclusive red-carpet event at Shangrila Plaza’s Cinema 3 with the special screening of the opening film: The Long Story Short from Denmark. Directed by May el-Toukhy and Maren Louise Käehne, it is a film of comedy and drama that sets the tone for a

line-up that spans genres: from romance to animation that will surely touch emotions.

One of Cine Europa’s core values is making European cinema accessible to all, said the delegation The festival continues its tradition of offering free screenings on a “firstcome, first served” basis at multiple venues across the Philippines, including FDCP Cinematheque (October 24 to 25) and University of the Philippines in Cebu until October 27. Other screenings were held in the University of the Cordilleras and University of San Agustin in Iloilo. The film fest remains one of the most significant cultural events in the country, deepening connections between the two regions through the universal language of film. According to the delegation, the extravaganza has now been regarded as the “biggest and vibrant display of European cinema,” bringing together Filipino film lovers, cultural enthusiasts, and the diplomatic community for a monthlong celebration of cinematic artistry and excellence.

Over the years, the festival—for the delegation—has become a symbol of the strong and enduring relationship between the EU and the Philippines, reflecting shared values of creativity, collaboration, and mutual respect.

Cine Europa 27 runs until October 27. For the complete film line-up and schedule, visit its Facebook account.

FOREIGN Minister Dato’ Seri Utama Haji Mohamad Bin Haji Hasan (left) and Secretary Enrique A. Manalo during their meeting in the Philippines last July 1. DFA/PNA

ADAMS (second from left)

AMB. MaryKay Carlson (third from right) leads the handover of emergency relief supplies to Sec. Gilberto Teodoro Jr. (third from left) and Usec. Ariel Nepomuceno (second from left), with Mission Director Ryan Washburn (right), IOM Phils.’ Euan McDougall (second from right), and defense attaché Col. Edward Evans (left).

Victor Consunji Development Corp. acquires prime lots from Sta. Lucia Land

IN an exciting move early this year, Victor Consunji Development Corp. (VCDC) successfully acquired 80,290 square meters of prime land from one of the country’s leading developers, Sta. Lucia Land. The acquisition forms part of Sta. Lucia’s latest premium offering, Acropolis Loyola, located in the northern suburbs of Metro Manila.

A formal signing ceremony was held between the two companies, attended by both developers’ directors and management teams. This event stands as a testament to the shared vision and commitment of both VCDC and Sta. Lucia Land in building master planned communities and upscale living spaces.

VCDC plans to transform the acquired land into a high-end residential area that will feature upscale townhome developments. Known for its innovative and sophisticated designs, VCDC is set to deliver an exclusive residential enclave that caters to discerning homeowners who seek both style and comfort.

The project is anticipated to enhance the surrounding area’s value, offering a blend of modern brutal architecture and thoughtfully designed urban spaces. The acquired land is part of Sta. Lucia Land’s Acropolis Loyola, a prime development strategically located to attract property buyers who are looking for premium real estate.

This new acquisition not only strengthens VCDC’s foothold in the luxury residential market but also

demonstrates Sta. Lucia Land’s role as a key player in providing high-value land assets to other developers.

“We are glad to have this kind of partnership with developers like VCDC who is quite known to deliver premium living spaces in key locations. Our strategy to continuously strengthen our land bank allowed us to help and provide prime lots that other developers can develop. Acropolis Loyola is one of Sta. Lucia Land’s latest development and having VCDC there to build and create luxury living spaces truly adds premium to the area,” said Sta. Lucia Land Inc. President Exequiel Robles.  Sta. Lucia Land, with its vast land bank, has long been a trusted partner for various property developers in the country. Its extensive landholdings allow it to supply developers like VCDC with prime lots that are crucial in creating upscale property developments. This collaboration further highlights Sta. Lucia’s role in shaping the real estate landscape by facilitating opportunities for developers to elevate their projects to the next level.

up on tasty treats from the snack buffet spread and food stations at Eastwood Richmonde Hotel’s Halloween Fright Fest happening on

attendees, plus exhilarating activities and prizes.

“The company is big on joint ventures thus we really welcome collaborations such as this one. We believe that developers and individuals must come together to really improve the real estate landscape here in the country. In our case we do whatever we can to meet the demands of homebuyers and at the same time help other developers build premium living spaces by providing them lots. We are grateful that VCDC is developing a portion of Acropolis Loyola and transforming it into a premium piece of property. Given this we look forward to having more partnerships and collaborations in our various properties across the country,” he concluded.  With both VCDC and Sta. Lucia Land focused on raising the bar in property development, this partnership is expected to deliver yet another outstanding community that reflects the vision of luxury and quality living. The upcoming residential area in Acropolis Loyola promises to be a landmark project, combining the expertise of two of the country’s most respected real estate players.

Celebrities, influencers rave about Catriona’s bag

PHILIPPINE celebrities and eco-conscious influencers are buzzing with excitement over the launch of the Enviro-Chic Bag, the brainchild of Catriona Gray, who personally designed the collection, in collaboration with Megaworld Lifestyle Malls as part of the mall operator’s biggest sustainability campaign to date.

The Enviro-Chic Bag is also a fashion statement that embodies Gray’s passion and commitment to creating a positive impact environmentally. The bag’s signature look is inspired by the vibrant and diverse landscapes of the Philippines, reflecting both the country’s natural beauty and the importance of preserving it for future generations.

The former Miss Universe is a well-known advocate for sustainable living and worked closely with local artisans and designers from Side B, an upcycling company, to create the bag, which features durable, ecoconscious materials and a sleek design that balances style with functionality.

“I wanted to create something that not only looks good but also does good and partnering with Megaworld Lifestyle Malls allowed us to combine sustainability with style, and I’m thrilled to see so many people getting behind this campaign,” she shared.

Celebrities and social media influencers such as Ms. Earth winners Jenny Ramp, Nælah Alshorbaji, and Irha Mel Alfeche along with Tim Yap, Laureen Uy-Cruz, Phoemela Barranda, and Janeena Chan were all in awe of the bags designed by Catriona, praising its stylish look and feel despite being made out of tarpaulins. They were joined by the likes of Alliah Racelis, Marilen Montenegro, Chelsea Robato, Sheila Marcelo, and Apples Aberin in praising the fashionable sustainability project of Megaworld Lifestyle Malls and the former Miss Universe winner. The Megaworld Lifestyle Malls x Catriona Enviro Chic Bag collection includes The Large Tote, The 3-Way

characters for an

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with glee as the hotel pulls out

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filled with

and spinetingling surprises. For only P1,599 nett, children and adults alike can take part of this spirited shindig that includes a delectable and filling buffet spread of trick-or-treatinspired snack items with a round of mango iced tea, a mystifying magic show with a master illusionist and ventriloquist, an interactive bubble show, access to the House of Terror for some good ol’ fashioned spooks and screams, and the most-awaited costume parade and contest for the adults and the little ones. An assortment of souvenirs like photos, cookies, and loot bags await the

The’s no better spot than Eastwood City for those looking for a staycation place with a myriad of options to shop, play, pamper, and dine. And with Eastwood Mall directly adjacent to the hotel plus low, low rates available from October 25 to November 3, 2024, Eastwood Richmonde Hotel should be the top choice for a mini holiday! There’s also no need to go trick-ortreating because a snack bucket filled with kiddie treats will be given to the kids upon check-in. Families staying on October 26 and 27, also get a big discount on the Halloween Fright Fest tickets. For inquiries and room reservations, guests may call (632) 8570 7777 or (63) 917 531 6867, email stay@eastwoodrichmonde.com, or log on to www.eastwoodrichmondehotel.com.ph. For ticket reservations and purchases, call (63) 917 821 0333 or email fb@eastwoodrichmonde.com.

On October 30, 2024, The Exchange is kicking off the long weekend with “Takipsilim,” inspired by Filipino folklore that make up our childhood nightmares. But not to fret, because the music, food, drinks, and fun promise to be legendary! Tickets are priced at P1,380nett per person and includes bottomless local beer, featured cocktails, soda, and iced tea, with a tasty spread of unlimited bar chow bites at the buffet, and a live performance of ‘80s music by Big Bash Band. Hotel guests checking-in on October 30 get 20 percent off on the party rate. Doors open at 6 pm and offers are available until 12mn. For inquiries and room reservations, call (632) 8638 7777 or (63) 917 859 7914 or email stay@ richmondeortigas.com. For online bookings, log on to www. richmondehotelortigas.com.ph. For table reservations at The Exchange, call (63) 917 534 4352.

Richmonde Hotel Iloilo ON All Hallow’s Eve, paint the town a fiery red as Richmonde Hotel Iloilo’s BizBar transforms into a disco inferno complete with groovy retro beats spun by Fatboi DJs’ DJ Enze and MC Yubz. Be sure to show off your killer moves on the dance floor in between bites of the mouthwatering fare and sips of beer. At a very tempting rate of just P950nett, you can delight in tapas, pizza, and two bottles of San Miguel Light Beer. The Halloween Disco Party starts at 8 pm on October 31, 2024. For table reservations, call (6333) 328 7888 or (63) 917 563 3558. If the City of Love is on your list as your next travel destination for its rich cultural heritage, delectable gastronomy, and unique visitor experiences, then take advantage of Richmonde Hotel Iloilo’s premier address inside the modern and colorful Iloilo Business Park beside Festive Walk Mall and Iloilo Convention Center, and its ongoing Richmonde Stay Deals which runs until December 15, 2025. Book Richmonde’s ultra spacious rooms for as low as P5,000 nett for an overnight stay and P5,500nett for accommodations with breakfast buffet for two, inclusive of Wi-Fi access and use of the Fitness Center’s gym and outdoor pool, For inquiries and room reservations, call (6333) 328 7888 or (63) 917 580 9058 or email stay@richmondeiloilo.com or log on to www.richmondehoteliloilo.com.ph.

Richmonde Hotel Ortigas IF bigger is better, then gigantic would be the best! With Richmonde Hotel Ortigas’ Monstrous Deals from October 27 to November 10, 2024, experience a hassle-free and relaxing break in your own sanctuary in the heart of the city, at rates starting at only P3,300 nett (room only) and P4,300nett (room with breakfast buffet for two). Enjoy complimentary Wi-Fi and use of the Health Club’s gym, steam/sauna rooms, and heated indoor pool during your stay. Richmonde Hotels present thrills, chills and deals this Halloween

Create like a Pro with Power Mac Center’s free Masterclass workshops

PREMIER Apple partner Power Mac Center (PMC) is serving tech smarts and industry savvy with its latest series of workshops featuring some of today’s movers and shakers.

“Masterclass. Create like a Pro” is designed to help users of the Mac and iPad, especially students and aspiring artists, get to know their devices better and stretch their digital prowess.

The upcoming sessions will be held from October to December, to be conducted in person at designated PMC Apple Premium Partner (APP) stores and online. Limited slots are available to optimize participation.

“We put together this program to help our customers discover what they want out of life or their careers through the different perspectives of our guest speakers. These are personalities who journey with the Mac and iPad and continue to achieve great success. Don’t miss this chance, because even those who are not in the metro can still join us virtually,” said Joey Alvarez, PMC Director for Marketing and Product Management.

Upcoming sessions will be on October 26, 2024 (ImagineoniPad) at PMC SM City North EDSA – Annex with illustrator Jethro Olba and content creator/entrepreneur Laureen

Uy; November 16 (Mac&Me) at PMC TriNoma with content creator Janina Vela and director Samantha Lee; and December 7 (ImagineoniPad) at PMC Power Plant Mall with singer-songwriter/music producer Noah Raquel and visual artist Jer Dee. Joining is free but on a first-come, firstserved basis. Each of the onsite classes can only accommodate 15 to 20 students, while the virtual rooms have a maximum capacity of 30 per session. Stay tuned to Power Mac Center’s OFFICIAL accounts on Facebook, Instagram, X, TikTok, Viber, and YouTube for the sign up details. Participants are encouraged to bring their own devices and block off their afternoon, as the sessions are estimated to run from 3 pm to 6 pm (three hours). Apart from the skills boost they can gain from the speakers, four lucky attendees will win P5,000 worth of Power Mac Center Gift Certificates during every workshop. All participants are also entitled to avail of the exclusive promo where they can get P1,000 worth of store credit to spend on any available Apple and/or non-Apple accessories, for every purchase of any Mac or iPad models. Additionally, the “Miles and Milestones: The 30th Anniversary Raffle” promo is still ongoing, with the deadline for earning entries extended to December 31, 2024. Simply sign up for membership to PMC’s loyalty program, 1 Infinite, in-store or via this link. Once confirmed, make a minimum single-receipt purchase of at least P30,000 for a chance to win a brandnew BYD ATTO 3 Dynamic Electric Vehicle and other exciting prizes! Terms and conditions apply.

PRESENT during the ceremonial signing were, from left, VCDC consultant Joey Gomez, VCDC Business Development head Annielle Madrid, VCDC president and CEO Victor Consunji, Sta. Lucia Land Inc. president and CEO Exequiel D. Robles, Sta. Lucia Land chair Vicente Santos and Sta. Lucia Land Inc. listing broker and negotiator RC Almodiente.

DLSU

Parentlife

Dress up, pretend and play

Halloween is a few days away. It brought me back to days when Meagan would have Character Day, where they get to choose the personalities they would like to be some day. I remember Meagan going to school once as Marie Curie and another time as Steve Jobs. It dawned on me how much pretend play was embedded in their childhood and how essential its role was in developing my children’s confidence, as well as my own.

when I was a toddler, I remember a lot of creation of scenes and make-up storytelling. I had a brunette doll which I loved to take care of and use clay to prepare her different foods. When I was in preschool, I would pretend to have a restaurant or be a stewardess in an airplane. My favorite pretend play was being my nanny’s assistant. From cleaning the individual glass planks and changing sheets, to following her in hand-washing clothes and ironing, I loved taking note of her routinary steps and goal for how well the clothes looked after ironing or they were properly folded. I also remember us having fun listening to Imelda Papin’s songs on the radio or listening to Filipino radio dramas. when I look back, those moments brought me a lot of joy, as well as a confidence and love for any kind of work.

This is why when I had my own children, I exposed them to a lot of opportunities to dress up and play with toys that allow them to assume fun roles like being a baker, coffee shop owner or a musician. I would buy them finger puppets or animal figurines for them to freely create their own stories. I would try to find pretend play toys then that were detailed but comfortable to be used freely by their little hands. Most of my finds were Melissa and Doug toys. Today, when I run sessions for parents or children, I feel great to see how far pretend play toys have developed. Parents should check out my top finds

from Melissa and Doug and how to maximize them:

1. Birthday Cake: This is great as a milestone gift at 1 year old. It is also a great start as a toy to teach both language and empathy. You can involve your child in preparing another person’s or even a pet’s birthday celebration. This teaches them to celebrate the people around them. More fundamentally, and a much-needed skill post-pandemic, “imaginative play goes hand in hand with language development. In fact, it’s around the same time that children begin engaging in pretend play that many start uttering their first words. When children use one object to stand for another, such as pretending a spoon is a hairbrush, or a tablecloth is a cape, they are thinking symbolically. This is key to learning and using language, as words also stand for thoughts and ideas. Furthermore, when playing with parents or other children, they hear new phrases and words used in a variety of contexts and begin expanding their vocabulary. Coming up with different pretend play scenarios and negotiating the rules with others further reinforces language development.” (www. melissaanddoug.com).

2. Get Well Doctor’s Kit, Activity Center and Super Smile Dentist Set: Playing doctor is a basic

but is also great to have extended play beyond a stethoscope. With its different tools like a blood pressure cuff, hearing tester, syringe, scissors, tweezers, rolling forehead thermometer, reflex hammer or otoscope, your child can learn how and when each tool is needed for a specific organ. according to www.melissaanddoug.com, “practicing how to problem-solve in terms of story development helps kids understand cause and effect and how different solutions yield different outcomes.”

3. Food Groups and Salad Set: It is good to introduce a healthy variety of food concepts early to our children. By introducing them in play, the familiarity extends to when these food are also being served during meal times.

4. Slice & Stack Sandwich Counter: This toy develops a child’s confidence when they use their hands and as they finish tasks. According to www. melissaanddoug.com, “Pretend play often involves physical activity...Children strengthen their fine motor skills with pretend play as well. Building a plane out of blocks or dressing dolls requires them to use their hands and fingers in new ways, which helps them strengthen those muscles.” an illustrated guide helps the child to prepare a specific sandwich. Because its counter is designed for easy clean-up, the child can practice packing away the many pieces in guided compartments.

5. Scoop & Serve Ice Cream Counter and La Patisserie Bake Shop: I love these toys because they empower a child early on to be entrepreneurs. apart from this, when played with other children, it can teach team work and other Sel (socio-emotional) skills like taking turns, empathy, flexibility and social communication. These kinds of imaginative play settings allow children to assume roles that allow them to think and act how in this case being an ice cream shop owner or a bake shop owner would. n

Unleash magIc of storytellIng wIth ‘starlIght tales’ halloween event get ready for an enchanting experience where the fantastical takes center stage, as shangri-La Plaza (www.facebook.com/ shangrilaplazaofficial ) brings beloved children’s bedtime stories to life with Starlight Tales: Halloween at the Shang taking place on October 26 and 27 at both grand atrium and east atrium, the weekend event includes memorable activities to inspire every little one’s imagination—a great place to embrace a little wonder and mystery this spooky season. start off a Halloween inspired by shang with a charming quest to put together colorful Diy projects courtesy of the crafters Marketplace at the east atrium. from designing a dream catcher to making some slime, each activity encourages self-expression and promises hands-on fun that kids will love.

Of course, it wouldn’t be Halloween without trick-or-treat stops around the popular upscale mall. Kids can bring home stellar souvenirs from various merchants and then test their skills for a chance to win prizes at various game booths with challenges, like shooting stars, ispy, spot the Difference, and guess Who, which add some friendly competition to the celebration. complete a spellbinding Halloween celebration with a captivating storytelling session with Make Believe Productions at the grand atrium, known for whisking away young minds to new worlds with mesmerizing shadow puppetry and extraordinary tales that make for an unforgettable journey. cap off the day with tasty treats as well as refreshing drinks from the Barista and coffee academy of asia for a more delightful way to celebrate the season. Moreover, an awesome time for little ones awaits. register for Starlight Tales passes now at eventsatshangrilaplaza.helixtickets.asia each pass admits one child and one accompanying adult, with a maximum of five passes per transaction. Pre-registration is required, with multiple time slots available, as activities will take place in two batches: from 1 to 3 pm, and from 4 to 6 pm. after registration, participants can pick up their activity iD, journey map, and adventure bag from the shangri-La Plaza concierge on October 24 and 25. activities are available on a first-come, first-served basis.

PreSIDenT Ferdinand r. Marcos Jr. has signed

Proclamation 700, officially declaring October 15 of every year as national Pregnancy and Infant loss

Remembrance Day, in an effort to raise awareness and offer comprehensive support to families affected by pregnancy and infant loss.

The proclamation recognizes the emotional, psychological and physical toll on families who experience pregnancy or infant loss, and highlights the importance of raising health awareness to prevent such tragedies or reduce the risks. national Pregnancy and Infant loss remembrance Day aims to increase public understanding, provide support for grieving families, and foster national dialogue on improving maternal care and health services.

according to 2022 data from the world Health Organization, there were 54,128 infant deaths within the first year in the Philippines, with 35,559 of those deaths occurring in the first 28 days of life. A Unicef 2021 data reports that the country experienced 25,531 stillbirths (fetal deaths that occur after 28 gestational weeks and before or during delivery). In addition, the Philippine Statistics authority reports that in 2022, 12 percent of pregnancies among women aged 15 to 49 ended in pregnancy loss over a three-year

period. These figures highlight the critical need for enhanced public awareness and more robust support for families facing these devastating losses.

The Department of Health (DoH), in collaboration with theasianparent, Southeast asia’s largest parenting content and community platform, is spearheading efforts to provide health education and resources to prevent pregnancy and infant loss, The DoH will oversee the nationwide observance, working with government agencies, nongovernmental, organizations, and the private sector to ensure holistic support for both expectant and grieving families.

In discussing the profound implications of the proclamation, Health Secretary Dr. Teodoro J. Herbosa emphasized the following: “The loss of a child during pregnancy or infancy is a profound experience that affects families on multiple levels. With this proclamation, we reaffirm our commitment to provide not only healthcare and mental health support but also the necessary tools and guidance to help prevent pregnancy and infant loss. This observance is a vital step toward fostering greater public awareness and ensuring that grieving families have access to the resources they need to begin

healing.”

Carla Perlas, theasianparent vice president of communications and head of Project Sidekicks, highlights the long-standing commitment of their platform in supporting affected families, sharing, “at theasianparent, we have always believed in the importance of raising awareness, and offering support for families who have endured the heartache of baby loss. Since launching our Project Sidekicks CSR initiative in 2020 to raise awareness of stillbirth and its risks, we’ve worked to provide essential tools and information to promote healthy pregnancies, alongside a compassionate community where parents can find solace and healing after such a devastating loss.” The observance of national Pregnancy and Infant Loss Remembrance Day will offer a platform for families to honor and remember their lost babies. It also aims to raise awareness about the importance of healthcare guidance and mental health support in preventing and managing pregnancy complications and infant loss. The DoH and theasianparent will lead various programs and activities to provide grieving families with the information and community support they need to cope.

Ideal spot for kIds’ playtIme and parents’ downtIme insPireD by the bright spirit and boundless energy of her daughter, Donnah Montemayor’s vision for taylor’s Play café was borne of a personal struggle— balancing the demands of taking care of taylor in a playground while trying to get work done. More than just a play space for children, the space offers parents a peaceful haven for much-needed relaxation and productivity, whichever you need at the time. Built on a foundation of love and care for the well-being of both children and parents, the café’s creation stems from a simple truth: being a parent is a delicate balancing act between work, life and play. taylor’s Play café continues to evolve as a place where families can find that (im)perfect harmony. in partnership with Bloss Villafuerte, owner and director of smallville Montessori Preschool, taylor’s Play café weaves the magic of Montessori principles into every aspect of its play environment. Bloss’ expertise in early childhood education ensures that as children explore, learn and have fun, they are engaged in activities thoughtfully designed to nurture their natural curiosity and encourage independent play. the indoor playground offers a perfect blend of energy and tranquility, as it offers action-packed areas for active play, while also offering cozy corners for calm and quiet activities. from diving into ball pits and slides, to quiet reading nooks and imaginative play—the play area has something for every mood and interest. Parents can relax, confident that their children are in a safe, enriching space that values both play and growth. What truly sets taylor’s Play café apart is its seamless blend of engaging, hands-on play areas for children and a cozy, relaxing café space for parents. Whether parents are looking for a productive spot to work or a quiet moment to enjoy a warm drink, the café is thoughtfully crafted to cater to the needs of both children and adults. While kids enjoy supervised, stimulating play, parents can unwind and take the well-deserved break they need. every corner of taylor’s Play café has been carefully crafted with today’s families in mind. from play areas that spark creativity in kids to a welcoming café atmosphere for parents, this is a place where families can recharge together. When parents have time to relax, children thrive in an even more engaging and joyful environment.

taylor’s Play café is located at the strip Mall (formerly industria Mall), circulo Verde, calle industria, Brgy. Bagumbayan, Quezon city. it is open daily from 9 am to 9 pm. More information is available via 0961-4369340 on Viber/Whatsapp.

Marcus’ first birthday as a lion; Melissa and Doug’s La Patisserie Bake shop set; Meagan at 3 pretending to be a teacher; Melissa and Doug’s super smile Dentist set; Meagan’s chef and baker phases.

Jun Lomibao

Obiena receives medical clearance to resume training

By Josef T. Ramos

ERNEST JOHN “EJ” OBIENA has made a big step in his bid to get back to competition after getting the clearance from spine expert Dr. Alessandro Napoli last week in Aprilia, Italy to resume training.

The 28-year-old World No. 3 pole vaulter and twotime Olympian relayed to BusinessMirror that his back is feeling much better than his condition after the Paris Olympics campaign.

“I can go back to what I usually do now like cross training, some fitness, running, rehab, prevention and now hoping to jump later. I feel good,” he said. “Actually, I was already cleared last week, but I will take everything slowly before I actually jump.” Obiena said Dr. Napoli, of Centro Sana clinic in Aprilia, is among the specialists being consulted by the Italian sports federation for athletes with back problems. Napoli works on non-surgical therapy for back pain, herniated discs and spinal stenosis at Paideia International Hospital in Rome. He is also an assistant professor with the Department of Radiology at Sapienza University of Rome specializing in radiotherapy for pain treatment.

“I am sure Vitali [Petrov] played a role in choosing Dr. Napoli. He knows all the doctors there,” Obiena’s confidant Jim Lafferty said.

Just a few weeks after finishing fourth in the Paris games, a magnetic resonance imaging (MRI) test on Obiena’s spine revealed a stress fracture, with doctors ruling out surgery. He went to Manila for a few days to promote his sport pole vault and even brought with him legendary pole vault icon Sergey Bubka and trainer coach Vitaly Petrov in Manila before returning to Paris along with girlfriend Caroline Joyeux.

“There was no operation, but only MRI and tax scan. The injury healed in three weeks, but my doctor still needed to check it,” Obiena, the 2023 World Athletics Championships silver medalist, added. “Coach Vitaly will draw up our plan for next year.”

Obiena, two-time Asian champion and Hangzhou Asian Games gold medalist, also expects to go back to active competitions by late January or early February in Europe. The Filipino star is expected to be back in top form for the 2025 Asian Athletics Championships in Gumi, South Korea in June and Southeast Asian Games in Thailand in December 2025.

“No Christmas break in Manila most likely, but I have a plan to go back next month in Manila. I really need to focus on my training schedule first,” Obiena explained.

The old college feels

LAST Saturday, October 19, the basketball games of the University Athletic Association of the Philippines (UAAP) were held not in the usual big venues of the Smart Araneta Coliseum in Cubao or the SM Mall of Asia Arena in Pasay, but at the University of Santo Tomas’ Quadricentennial Pavilion along España Street in Sampaloc, Manila.

It was the first time that the premier collegiate league used a school gym again after a long, long time. The last school gym that was used as a regular venue for UAAP games was the Loyola Center of the Ateneo de Manila down Katipunan Street, now known as the Blue Eagle Gym. Although UST’s QPav was big, modern and equipped with the latest facilities, watching the games in the 5,792-seat multipurpose gym evoked memories for me of watching the games at the slightly smaller Loyola Center. It brought on simple, friendlier, collegiate vibes.

Ateneo head coach Tab Baldwin said the same at the post-game press conference soon after his Blue Eagles frustrated the UST Growling Tigers in their home court. He said playing in school gyms was something he was

LeBron, Bronny make history

LOS ANGELES—LeBron James gave his 20-year-old son a pep talk before they rose from the Lakers bench. Amid rising cheers, they walked together to the scorer’s table—and then they stepped straight into basketball history.

LeBron and Bronny became the first father and son to play in the NBA together Tuesday night during the Los Angeles Lakers’ season opener, fulfilling a dream set out a few years ago by LeBron, the top scorer in league history.

“That moment, us being at the scorer’s table together and checking in together, it’s a moment I’m never going to forget,” LeBron said. “No matter how old I get, no matter how my memory may fade as I get older or whatever, I will never forget that moment.”

Father and son checked into the game against Minnesota simultaneously with four minutes left in the second quarter, prompting a big ovation from a home crowd aware of the enormity of the milestone. The 39-yearold LeBron had already started the game and played 13 minutes before he teamed up with his 20-year-old son for about 2 1/2 minutes of action.

LeBron James is one of the greatest players in NBA history, a four-time champion and 20-time All-Star, while LeBron James Jr. was a second-round pick by the Lakers last summer. They are the first father and son to play in the world’s top basketball league at the same time, let alone on the same team.

“Y’all ready? You see the intensity, right? Just play carefree, though,” father told son on

the bench before they checked in, an exchange captured by the TNT cameras and microphones.

“Don’t worry about mistakes. Just go out and play hard.” Their time on court together was fast and furious, just as LeBron promised.

LeBron, who finished the night with 16 points, missed two perimeter shots before making a dunk. Bronny had an early offensive rebound and missed a tip-in, and his first NBA jump shot moments later was a 3-pointer that came up just short. He checked out one possession later with 1:19 left in the second quarter, getting another ovation.

Bronny didn’t play again in the Lakers’ 110103 victory over the Timberwolves.

“[I] tried not to focus on everything that’s going on around me, and tried to focus on going in as a rookie and not trying to mess up,” Bronny said. “But yeah, I totally did feel the energy, and I appreciate Laker Nation for showing the support for me and my dad.”

After the final whistle on the Lakers’ first opening-night victory in LeBron’s seven seasons with the team, father and son also headed to the locker room together—but not before stopping in the tunnel to hug Savannah James, LeBron’s wife and Bronny’s mother. The entire family was in attendance to watch history—on little sister Zhuri’s 10th birthday, no less.

Ken Griffey Sr. and Ken Griffey Jr. also were courtside at the Lakers’ downtown arena to witness the same history they made in Major League Baseball. The two sluggers played 51 games together for the Seattle Mariners in 1990 and 1991 as baseball’s first father-son duo. AP

Final leg of Indigenous Peoples Games set in GenSan

THE third and final leg of this year’s Indigenous Peoples Games will be staged on October 26 at the Acharon Sports Complex in General Santos City, with the eight-division world boxing champion Manny Pacquiao as special guest.

The two-day meet showcases 10 traditional sports—Gamti (Pana), Fire Making, Kasing

(Trompo), Skuya (Takbo), Kadang Kadang, Kmahung (Swimming Relay), Tug of War, Bangkaw (Spear Throw), Bayo sa Palay and Sudol. The event will have delegations from Sarangani’s municipalities Alabel, Glan, Kiamba, Maasim, Maitum, Malapatan, Malungon and the host General Santos City. Pacquiao, his brother Sarangani Governor

very familiar with as he normally led his collegiate teams abroad to home and away adventures.

I nodded in agreement as I remembered the homey wooden chairs of Loyola, the more intimate and proximate set-up of the seats to the playing court and the more informal and less security-patrolled areas that made both athletes and team staff more approachable and accessible to the audience.

Although the crowd then was smaller than in the bigger venues of today, the experience was more “sen-surround”. The drums were louder, the shrieks and shouts more deafening, the sweat produced by the non-air conditioned venue added to the passion.

It turns out I was not alone. “I remember watching UAAP games in their [UST’s] old gym in the late 80s,” said Andy Maglipon, Program Director of the Philippine Tennis Association and UAAP Tennis Commissioner.

“I [watched] the Ateneo-FEU game at UST’s old gym in 1984. Ateneo’s point guard was Chot Reyes, now TNT head coach. Its second best player was center Mike Facundo. FEU had Glenn Capacio and Harmon Cordinera. The gym was dark and dingy, much like the old UP gym but it had more seats/ benches [although it was practically empty]. The UAAP was less popular then than the NCAA [but Ateneo-La Salle games were played at Araneta] because of its bruising type of play,

Rogelio Pacquiao and General Santos City Mayor Lorelie Pacquiao will be joined by Commissioners Matthew

Gaston and Walter Francis Torres of the Philippine Sports Commission and National Commission on Indigenous People chairperson Jennifer Pia Sibug-Las in the opening ceremony.

“We are certainly heartened by the all-out support of local people and officials for this event, that achieving our objective of promoting the traditional games of our indigenous people becomes easier,” said Gaston.

The IP Games—Mindanao is the final leg of the IP Games this year, following the successful Visayas leg in Bago City, Negros Occidental last month.

The PSC has been organizing the IP Games since 2018 following the United Nations Educational and Scientific and Cultural Organization’s appeal for the preservation of the cultural heritage of the World.

through with a brilliant par-save on the long par-5 18th. Despite dropping two strokes on the par-3 13th due to a misjudged gust, Zaragosa swiftly recovered with back-toback birdies from No. 2 before play was halted. His nearflawless performance left him with a four-stroke clubhouse lead over a quartet of pursuers, including Tony Lascuña, Russell Bautista, Francis Morilla and first-round leader Michael Bibat, who all posted one-under aggregate scores. Meanwhile, Sarah Ababa found herself within striking distance of another victory this season with one round left. Ababa, who opened the season-ending tournament of the Ladies Philippine Golf Tour with a stunning 68 and a three-stroke lead over Daniella Uy, maintained her cushion as play was halted midway through the round.

“It was tough, but my game was fairly solid,” said Zaragosa in Filipino, who had to withdraw from the final round of last week’s event in Binitin due to a persistent stiff neck. However, he bounced back swiftly, showcasing strong play in challenging conditions over the first two rounds with hopes of maintaining his confidence and momentum as he chases his second career victory following his dominant win in Iloilo last year.

“I’ll stick to my game plan tomorrow and play smart,” said Zaragosa, stressing the importance of minimizing mistakes.

“I’m also hoping my putting comes through, and I can keep that momentum going until the final day.” Tournament officials decided to resume the round early Thursday, with Zaragosa holding a commanding advantage over his rivals. Due to the weather disruptions, the men’s competition has been reduced to 54 holes and the women’s to 36. Bibat, who led with an opening-round 66, struggled to find rhythm in the gusty morning conditions, dropping strokes early before rebounding with a birdie on No. 2. He now shares second place at one-under, alongside Lascuña, Bautista and Morilla, all fighting to stay within striking distance of Zaragosa. Surprisingly, lesser-known names like Bautista and Morilla thrived in the turbulent weather. Bautista posted a steady round with a birdie and a bogey through 15 holes, while Morilla made the most of the shifting conditions, carding a series of birdies to challenge the more seasoned competitors.

but it was catching up,” Andy reminisced. “I also watched the UP-FEU championship game at Rizal Memorial. I think it was Ronnie Magsanoc and Eric Altamirano’s rookie year. We had a chance to win that one until Ronnie got thrown out for undercutting Glenn Capacio. Capacio was a beast—a heady, strong and deadly 2-guard,” he recalled. “Big games were played at Rizal Memorial. Smaller games were played in school gyms like UST. Rizal was like a sauna when it was full and you had to make sure you got a view that was not obstructed by the giant posts. I watched a lot of the UP 86 championship season at ULTRA. That venue was a welcome relief because of air conditioning…I can’t wait for the UAAP’s permanent home to be built. I hope they do a good job with that,” said Andy. His tennis buddy and PTA Board of Trustee Joey Torres contributed some memories too. “I recall Loyola Center: no aircon, mainit, lots of blind spots, tickets were easier to get and way more affordable than today, parking was never a problem.” He

THE men’s competition has been reduced to 54 holes and the women’s tournament down to 36. ROY DOMINGO

DR Alessandro Napoli gives EJ Obiena the green light. PHOTO FROM EJ OBIENA

Editor: Francine Medina | Project Manager: Rodel A Suarez

REACHING MILESTONES: PIMS LOOKS BACK TO MOVE FAST-FORWARD

Since 2007, PIMS has been a driver in the future of the automotive industry and, as it envisions, in the country’s growth and progress as well.

MANILA , Philippines—As the Philippine International Motor Show (PIMS) gears up for its highly anticipated 2024 edition from October 24 to 27 at the World Trade Center, the stage is set for yet another milestone in the country’s thriving automotive industry. Hosted by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), this year's show promises to ignite excitement with its theme: “Dare, Drive, The Future Redefined.”

This year’s edition showcases 17 participating automotive brands—the highest number in PIMS history. The exhibition will feature the latest innovations and solutions in mobility. Partnerships are also taking center stage, with Helix and BPI returning as the official auto-finance partner.

Revisiting Key Moments from Past PIMS PIMS has long been the platform for groundbreaking automotive launches. From the unveiling of the first electric vehicle prototypes in 2018, PIMS has consistently pushed the envelope in the automotive space. Notable past highlights include the introduction of clean diesel technology in 2016 and hybrid electric vehicles that revolutionized fuel efficiency standards in the country. The 5th PIMS in 2014 marked a significan milestone, attracting a record-breaking 90,000 attendees. This year, PIMS aims to surpass that mark with the participation of 17 automotive brands, the biggest number in the event’s history.

CAMPI President, Attorney Rommel Gutierrez, shared his enthusiasm for the growing scale of the event: "As this is the biggest PIMS yet, we are confident that this year’s edition will surpass our previous milestone in terms of attendance. We look forward to bringing the exciting progress we’ve made as an industry to

more people."

Celebration of Growth and progress

PIMS has been a major contributor to driving consumer interest in new vehicle models and advanced automotive technologies. Over the years, it has helped boost automotive sales by introducing Filipinos to innovative products and financing solutions. A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) as of August 2024 shows the industry with an annual vehicle sales of 304,765 units, a 10.3% increase from 276,215 units during the same period in 2023. Gutierrez echoed how these sales are a sign of the industry’s continuing growth. He said, “We are pleased to witness the continuing growth of the Philippine automotive industry. This steady upward trend reflects sustained demand within the sector, supported by consumer confidence. As we move forward, CAMPI and our partners remain committed to driving innovation and contributing to the further development of the industry, while ensuring that we meet the evolving needs of Filipino consumers.” Tickets to the event are available online at https://pims.helixpay. ph/. For updates, visit and subscribe to CAMPI’s Facebook page.

www.businessmirror.com.ph

INNOVATIONS FOR YOU: ISUZU

PH UNVEILS GAME-CHANGING VEHICLES AT THE 9TH PIMS

From ultra versatile 4x4s,

ISUZU Philippines Corporation (IPC), led by President Tetsuya Fujita, showcases its latest innovations at the 9th Philippine International Motor Show (PIMS), reinforcing its commitment to delivering cutting-edge products that elevate the driving experience and support the country's goal of achieving carbon neutrality. With the theme, “Innovations For You,” IPC highlights its forward-thinking approach to addressing the evolving needs of both personal and

vans for logistics and business, to e-trucks, Isuzu Philippines unveils new automotives offers advanced solutions tailored to modern needs.

business customers. According to Fujita, “This year, every vehicle we present reflects our dedication to combining toptier performance with modern solutions, designed to meet both personal and com- mercial needs. This line-up dem- onstrates our unwavering com- mitment to delivering the best driving experiences while em- powering businesses nationwide to succeed and move closer to achieving carbon neutrality.” said Tetsuya Fujita, IPC President.

New Product Line-up

First on the line-up is the Isuzu D-MAX 4x4 in two versions: the standard model equipped with new Differential Lock System and Rough Terrain Mode. Both versions come with advanced safety features such as the 5-Star Safety ADAS, a 360-degree Around View Monitor (AVM), a Digital Video Recorder (DVR), Wireless Charging and Connectivity.

On the luxury side, IPC introduced the Isuzu mu-X Executive Edition, an eye-catching SUV that

redefines comfort and style. The mu-X Executive Edition boasts of a sophisticated red and black leather interior with elegant red stitching. The second-row seats have been upgraded to custom VIP seats, featuring power recline, leg rests, massage functions, USB/Type-C charging ports, and ambient lighting, offering a truly first-class experience. To add to its modern and sleek exterior, IPC fitted 20” Black Rhino wheels with Nitto S City Tires, enhancing its overall look.

Innovations for Business and Logistics

IPC also revealed the Isuzu TRAVIZ Concept Cargo Van, an ideal solution for logistics and last-mile delivery businesses. With a modern, secure cargo area capable of carrying up to 1,660 kilograms of gross payload, this TRAVIZ concept model offers enhanced efficiency for business operations.

For heavy-duty operations, the new Isuzu EW5 Tractor Head was featured in IPC’s outdoor truck dis-

Powered by a robust

EURO V engine that delivers 415PS of maximum power and 1,990 Nm of torque, paired with a 12-speed Automated Manual Transmission (AMT), this tractor head is designed to be a dominant force in the hauling industry, further solidifying Isuzu’s leadership in the commercial truck segment.

Leading the change towards carbon neutrality

One of the most anticipated

Program—assessing customer op

erational needs, providing optimal charging schedules, recommending the best chargers, and offering

Our

is to ensure a

transition to electric vehicles without sacrificing performance or efficiency.” For more information, visit www.isuzuphil.com or drop by any authorized Isuzu dealership nationwide.

International Motor Show

THE FUTURE IS NOW: SUZUKI HIGHLIGHTS TECH UPGRADES AND SUSTAINABILITY IN PIMS 2024 SHOWCASE

The brand pushes the boundaries of the industry with emission-free aerial mobility, autonomous driving technology, and eco-friendly mobility

SPartnering with TIER IV, a leader in open-source autonomous driving software, Suzuki is accelerating the development and commercialization of autonomous vehicles—part of its long-term vision for smart, sustainable transportation. Suzuki’s forward-thinking doesn’t stop there. The brand

Electrified! Toyota commits to Beyond Zero movement with launch of new HEVs

PIMS guests get a first look at a hybrid electric vehicle geared up as a gamechanger for both business owners and adventure seekers

TOYOTA Motor Philippines (TMP) presents trailblazing innovations to demonstrate Toyota’s global Beyond Zero push at the 9th Philippine International Motor Show (PIMS).

Expected