WIn its month-ahead inflation forecast, BSP said inflation could average between 2.3 percent and 3.1 percent. Full-year inflation could average 3.2 percent.
Data from the Philippine Statistics Authority (PSA) showed inflation averaged 2.5 percent in November and 3.9 percent in December 2023. Full-year inflation
was at 6 percent in 2023. “Upward price pressures in December could stem from increased prices of major food items owing to the supply disruptions from recent weather disturbances, as well as higher electricity rates and petroleum prices,” BSP said. “Nonetheless, these are expected to be offset in part by
lower prices of agricultural commodities like rice.”
BSP said the expected full-year average inflation is also within the inflation target of 2-4 percent for 2024. The Development Budget Coordination Committee, in consultation with the BSP, retained the current target for 2025 to 2028.
The Central Bank said the inflation target range of 2-4 percent remains appropriate to attain the medium-term goal on price stability.
The BSP said this considers the current structure of the Philippine economy and the macroeconomic outlook over the next few years.
Nonetheless, BSP said the results of the review of its monetary policy framework in 2025-2026 will be carefully considered in the
subsequent assessment of the inflation target.
“By announcing a mediumterm inflation target, the BSP aims to strengthen its forward-looking approach to monetary policy formulation with the view of helping anchor inflation expectations to the target,” BSP said.
The BSP also said its outlook for domestic aggregate demand will be supported by easing monetary conditions, improving labor market conditions, and the implementation of structural reforms.
Meanwhile, the Central Bank said, the risk of possible domestic and external shocks will require close monitoring and proactive intervention measures from the whole government.
Tax agencies’ collection posts double-digit growth in 2024
of Internal Revenue (BIR) collections, which increased by 13.9 percent to P2.67 trillion; and the Bureau of Customs (BOC) collections, which grew 4.7 percent to P850 billion by the end of November 2024. “Rest assured, we are working nonstop to strengthen the efficiency, transparency and integrity of our tax system to inspire trust and compliance among our taxpayers,” Finance Secretary Ralph G. Recto said.
DOF said the emerging total tax collections for the year are expected to reach P3.82 trillion, or 11.4 percent more than in 2023.
As a percentage of GDP, this is equivalent, DOF said, to 14.4 percent this year, slightly higher than the 14.1 percent recorded in the previous year.
DOF noted
Program. Out of the 27 projects in the program, 16 have already been completed by the end of November 2024. This has led to the issuance of 470,387 digital Tax Identification Number (TIN) IDs through the Online Registration and Update System (ORUS).
AMAXIMUM of 10 digital banks will now be allowed to operate in the Philippines as a result of the lifting of the Bangko Sentral ng Pilipinas (BSP) moratorium on the establishment of these banks.
Beginning on Wednesday, January 1st, the moratorium set by the BSP on the issuance of digital bank licenses is lifted. The move includes the conversion of an existing bank’s license to a digital bank license. The BSP will accept applications to establish other types of banks to offer financial products and services that are processed from end-to-end through a digi-
These
be undertaken.
The BSP said these banks will be given three years from the approval of their digital banking license by the Monetary Board to implement its transition plan.
This timeframe for banks that will convert to become digital banks also covers the divestment or closure of a bank’s branches, subbranches or branch lite units.
The pre-approval process to establish a digital bank includes the presentation of the feasibility study of the monthly projected financial statement for the first five years of the new bank’s operation.
Trump’s Panama Canal claim: History and reality
By Will Weissert, Juan Zamorano & Gary Fields The Associated Press
PANAMA CITY—Teddy Roosevelt
once declared the Panama Canal “one of the feats to which the people of this republic will look back with the highest pride.” More than a century later, Donald Trump is threatening to take back the waterway for the same republic.
The president-elect is decrying increased fees Panama has imposed to use the waterway linking the Atlantic and Pacific oceans. He says if things don’t change after he takes office next month, “We will demand that the Panama Canal be returned to the United States of America, in full, quickly and without question.”
Trump has long threatened allies with punitive action in hopes of winning concessions. But experts in both countries are clear: Unless he goes to war with Panama, Trump can’t reassert control over a canal the US agreed to cede in the 1970s.
Here’s a look at how we got here: What is the canal?
IT is a man-made waterway that uses a series of locks and reservoirs over 51 miles (82 kilometers) to cut through the middle of Panama and connect the Atlantic and Pacific. It spares ships having to go an additional roughly 7,000 miles (more than 11,000 kilometers) to sail around Cape Horn at South America’s southern tip.
The US International Trade Administration says the canal saves American business interests “considerable time and fuel costs” and enables faster delivery of goods, which is “particularly significant for time-sensitive cargoes, perishable goods, and industries with just-in-time supply chains.”
Who built it?
AN effort to establish a canal through Panama led by Ferdinand de Lesseps, who built Egypt’s Suez Canal, began in 1880 but progressed little over nine years before going bankrupt.
Malaria, yellow fever and other tropical diseases devastated a workforce already struggling with especially dangerous terrain and harsh working conditions in the jungle, eventually costing more than 20,000 lives, by some estimates.
Panama was then a province of Colombia, which refused to ratify a subsequent 1901 treaty licensing US interests to build the canal. Roosevelt responded by dispatching US warships to Panama’s Atlantic and Pacific coasts. The US also
prewrote a constitution that would be ready after Panamanian independence, giving American forces “the right to intervene in any part of Panama, to re-establish public peace and constitutional order.”
In part because Colombian troops were unable to traverse harsh jungles, Panama declared an effectively bloodless independence within hours in November 1903. It soon signed a treaty allowing a US-led team to begin construction.
Some 5,600 workers died later during the US-led construction project, according to one study.
Why doesn’t the US control the canal anymore?
THE waterway opened in 1914, but almost immediately some Panamanians began questioning the validity of US control, leading to what became known in the country as the “generational struggle” to take it over.
The US abrogated its right to intervene in Panama in the 1930s. By the 1970s, with its administrative costs sharply increasing, Washington spent years negotiating with Panama to cede control of the waterway.
The Carter administration worked with the government of Omar Torrijos. The two sides eventually decided that their best chance for ratification was to submit two treaties to the US Senate, the “Permanent Neutrality Treaty” and the “Panama Canal Treaty.”
The first, which continues in perpetuity, gives the US the right to act to ensure the canal remains open and secure. The second stated that the US would turn over the canal to Panama on December 31,
1999, and was terminated then.
Both were signed in 1977 and ratified the following year. The agreements held even after 1989, when President George H.W. Bush invaded Panama to remove Panamanian leader Manuel Noriega.
In the late 1970s, as the handover treaties were being discussed and ratified, polls found that about half of Americans opposed the decision to cede canal control to Panama. However, by the time ownership actually changed in 1999, public opinion had shifted, with about half of Americans in favor. What’s happened since then?
ADMINISTRATION of the canal has been more efficient under Panama than during the US era, with traffic increasing 17% between fiscal years 1999 and 2004. Panama’s voters approved a 2006 referendum authorizing a major expansion of the canal to accommodate larger modern cargo ships. The expansion took until 2016 and cost more than $5.2 billion.
Panamanian President José Raúl Mulino said in a video Sunday that “every square meter of the canal belongs to Panama and will
continue to.” He added that, while his country’s people are divided on some key issues, “when it comes to our canal, and our sovereignty, we will all unite under our Panamanian flag.” Shipping prices have increased because of droughts last year affecting the canal locks, forcing Panama to drastically cut shipping traffic through the canal and raise rates to use it. Though the rains have mostly returned, Panama says future fee increases might be necessary as it undertakes improvements to accommodate modern shipping needs. Mulino said fees to use the canal are “not set on a whim.”
Jorge Luis Quijano, who served as the waterway’s administrator from 2014 to 2019, said all canal users are subject to the same fees, though they vary by ship size and other factors. “I can accept that the canal’s customers may complain about any price increase,” Quijano said. “But that does not give them reason to consider taking it back.”
Why has Trump raised this?
THE president-elect says the US is
getting “ripped off” and “I’m not going to stand for it.”
“It was given to Panama and to the people of Panama, but it has provisions—you’ve got to treat us fairly. And they haven’t treated us fairly,” Trump said of the 1977 treaty that he said “foolishly” gave the canal away.
The neutrality treaty does give the US the right to act if the canal’s operation is threatened due to military conflict—but not to reassert control.
“There’s no clause of any kind in the neutrality agreement that allows for the taking back of the canal,” Quijano said. “Legally, there’s no way, under normal circumstances, to recover territory that was used previously.”
Trump, meanwhile, hasn’t said how he might make good on his threat.
“There’s very little wiggle room, absent a second US invasion of Panama, to retake control of the Panama Canal in practical terms,” said Benjamin Gedan, director of the Latin America Program at the Woodrow Wilson International Center for Scholars in Washington. Gedan said Trump’s stance is especially baffling given that Mulino is a pro-business conservative who has “made lots of other overtures to show that he would prefer a special relationship with the United States.” He also noted that Panama in recent years has moved closer to China, meaning the US has strategic reasons to keep its relationship with the Central American nation friendly.
Panama is also a US partner on stopping illegal immigration from South America—perhaps Trump’s biggest policy priority.
“If you’re going to pick a fight with Panama on an issue,” Gedan said, “you could not find a worse one than the canal.”
Lifting of BSP freeze...
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The feasibility study, the BSP said, should contain “realistic assumptions” that are consistent with the proposed business model and the corporate strategy of the bank.
The applicant must also provide a detailed review and assessment of its information technology systems and infrastructure vis-a-vis its digital banking business model.
This review and assessment should be conducted by a thirdparty IT expert and include a comprehensive assessment of the design, security controls, scalability and resilience capability of the infrastructure.
The same parameters will also
be required in the assessment of the applicant’s network, application, database, security systems, antimoney laundering/countering the financing of terrorism (AML/CFT) measures and other technologies.
The applicant should also submit the requirements for offering electronic payments and financial services and a list and nature of material outsourcing arrangements.
In the evaluation proper, the banks will be evaluated according to their capital requirements/stockholdings, among other parameters required for all new banks.
First candidates
EARLIER , the BSP said a rural bank that is partly owned by a foreign
firm and a European digital bank could be among those that could be granted digital banking licenses next year.
BSP Financial Supervision Sector Deputy Governor Chuchi G. Fonacier recently told reporters, however, that these institutions have not yet applied but were among those that have a digital bank-like operation or have expressed keen interest.
The BSP recently opened four more digital banking license slots and applicants may start submitting their requirements starting January 1, 2025. The Central Bank may also include existing banks that are operating like digital banks on the list of banks to evaluate. Cai U. Ordinario
Tax agencies’ collection…
ORUS is a web-based system that provides an end-to-end process for registration and updating of taxpayer registration information.
Through the Enhancement of Electronic One-Time Transaction (ONETT) System, the BIR issued 33,198 Electronic Certificates Authorizing Registration (eCARs) from January to November 2024. This corresponded to P4.37 billion in collections.
Meanwhile, the BIR fasttracked the rollout of the Run After Fake Transactions (RAFT) drive. The campaign allows it to file civil, criminal and administrative cases against sellers, users and professionals involved in the sale and use of commercial invoices/receipts to support fake transactions.
As of October 2024, the BIR has sent out approximately 1,500 assessment notices and was able to collect P3.44 billion.
The BIR also implemented its Run After Tax Evaders (RATE)
program, which resulted in four RATE cases being filed with the Department of Justice (DOJ) in the 11-month period, with estimated total tax liabilities of P564.93 million.
The bureau said another 17 cases were filed with the Court of Tax Appeals (CTA), with an estimated tax liability of P1.21 billion.
Further, the BIR said the Nationwide Enforcement Operations on the illicit trade of cigarettes, vapes and other excisable articles allowed it to issue 787 mission orders and collected P110.33 million from January to October 2024.
BOC THE BOC said its efforts included seizing P84.36 billion worth of smuggled goods as of November 30, 2024. Among the top seized commodities were counterfeit goods, various commodities, cigarettes, ecigarettes/vape products, vehicles and accessories, and illegal drugs.
The BOC also forfeited 21 containers of seized frozen mackerel
worth P178.5 million, which was donated to 150,000 families in marginalized communities to ensure food security for Filipinos. Some of the confiscated mackerel was distributed by the President to 21,000 households from Barangay 649 in Tondo, Manila, on December 14. The BOC also disposed of a total of 305 overstaying containers between January and November 2024. This resulted in revenue generation of P166.301 million from the public auction of 146 containers of assorted goods.
The BOC also filed a total of 81 criminal complaints against importers and customers in violation of the provisions stipulated in the Customs Modernization and Tariff Act (CMTA). Of these, the BOC secured seven criminal convictions. The bureau also collected P220.77 billion in taxes under the Fuel
PRESIDENT Jimmy Carter views the Panama Canal at the Miraflores Locks in Canal Zone on June 17, 1978. AP/TASNADI
Signal flag system adapted in Boracay-like Dahican Beach
By Manuel T. Cayon
DAVAO CITY—The Boracay-
like Dahican Beach of Mati
City, Davao Oriental will be seeing signal flags anytime soon to indicate danger to beach goers, the City Tourism Office has announced on Friday.
The tourism office said it implemented the signal flag system in Dahican Beach to ensure the safety of visitors and address potential marine hazards, an initiative that followed a recent incident involving the presence of blue jellyfish.
Earlier this week, a beachgoer reported coming in contact with a jellyfish, prompting heightened safety measures to protect beachgoers.
Although the beachgoer received immediate care, the incident has highlighted the need for precautions along the popular coastline, the office said.
The City Tourism Office introduced the signal flag system to provide a visual guide for swimmers and surfers and indicating current beach conditions such as tides, currents, and potential
marine life activity.
Resort owners, lifeguards, and other stakeholders have been encouraged to adopt the system and educate visitors about its importance, the office added.
“We are taking a proactive approach to ensure the safety of our tourists and residents,” said Mati City Mayor Michelle Nakpil Rabat.
“Through this signal flag system, the City Tourism Office is helping us maintain Dahican’s reputation as a safe and enjoyable destination.”
Beachgoers are reminded to heed the warnings of lifeguards and observe the flag indicators, especially during times when jellyfish sightings are reported, the tourism office said.
Health authorities have advised the public to avoid direct contact with jellyfish and to seek immediate medical attention in case of stings.
Dahican Beach is a seven-kilometer long white sand beach facing the Pacific Ocean and being celebrated by the province “for its pristine waters and vibrant surf culture as it continues to attract local and international visitors.”
Pinoys reminded to ensure kids’ safety from fireworks
By Bless Aubrey Ogerio
THE public is being urged to adhere to local government regulations on firecracker use as the New Year approaches, a legislator emphasized.
This reminder comes after the Department of Health (DOH) reported 43 firecracker-related injuries nationwide between December 22 and 25.
Nakakalungkot dahil karamihan ng mga naaaksidente sa paputok ay mga bata. Ayon sa report ng DOH, 20 sa mga naaksidente ay mga kabataang may edad na 19 pababa [This is sad, because most of the victims are children. Per the DOH report, 20 of the accidents involved children 19 years old and blow),” said Navotas Rep. Toby Tiangco. In Navotas, there are four cases of minor injuries, including two children aged 7 and 9. The lawmaker also called on the Philippine National Police (PNP) to intensify its crackdown on the sale of illegal firecrackers, especially online.
CAR ‘healthy,’ no need for bailout, LBP assures public
By Cai U. Ordinario
DESPITE its capital investment in the Maharlika Investment Corporation (MIC), the Land Bank of the Philippines (LBP) gave assurances that its capital adequacy ratio (CAR) remains at a “healthy level” and was above the regulatory threshold.
In a statement, LBP said its CAR was at 16.42 percent and well above the 10-percent regulatory threshold as of November 2024.
The state-run bank stressed that despite the publication of the International Monetary Fund (IMF) observations, it remains “financially robust with no urgent need for additional capital.”
“The Bank (LBP) also clarified that regulatory relief was sought from the BSP as a proactive measure to maintain resilience,” LBP said.
Madiskarte na rin ang mga nagbebenta ng ilegal na paputok. Ang ilan, nagbebenta na rin online kaya dapat itong bantayan nang maigi ng ating kapulisan [The illegal fireworks sellers have become more creative. Some are selling online and this is something the police should closely track),” he said.
The PNP has identified several illegal firecrackers, including Piccolo, Super Lolo, Atomic Triangle, Large Judas Belt, Large Bawang, Pillbox, Bosa, Goodbye Philippines, Bin Laden, Mother Rocket, Lolo Thunder, Coke in Can, Atomic Bomb, Five Star, Pla-Pla, Giant Whistle Bomb, Goodbye Napoles, Hello Columbia, Goodbye De Lima, Super Yolanda, Kingkong, Goodbye Bading, Kabasi, Hamas and Watusi. These firecrackers are prohibited due to their excessive explosive content, which exceeds 1/3 teaspoon or 0.2 grams, and the absence of proper labels, such as the manufacturer’s name and address.
Negros Oriental disaster council seeks state of calamity status over Kanlaon
DUMAGUETE CITY—The Provincial Disaster Risk Reduction and Management Council (PDRRMC) on Friday recommended placing Negros Oriental under a state of calamity due to the continued unrest of Mt. Kanlaon.
PDDRM chief Adrian Sedillo told the Philippine News Agency that the council voted on Thursday for the recommendation after the local government unit (LGU) of Vallehermoso declared a state of calamity recently
The legal requirement of at least two LGUs had been met as Canlaon City has remained in a state of calamity since the June 3 eruption.
The council’s resolution has been forwarded to the Sangguniang Panlalawigan for deliberation, with Sedillo expressing hope for swift approval.
“Once declared, the provincial government can access its quick response fund (QRF) for disaster
response and relief,” he said. Edna Lhou Masicampo, Canlaon City information officerdesignate, said on Friday that the city’s QRF has been depleted and the P30 million from President Ferdinand R. Marcos Jr. is also slowly draining. Meanwhile, the Department of Social Welfare and Development (DSWD) in Central Visayas distributed food packs and PP3,000 cash assistance to families displaced within the six-kilometer permanent danger zone (PDZ). Cardenas also urged DSWD to include evacuees staying with relatives in the aid program. As of December 26, a total of 2,421 families or 7,816 individuals remained displaced, with 1,778 families in evacuation centers and 643 families sheltering outside these facilities.
Residents outside the PDZ were advised to return home as fears of a major eruption have subsided. PNA
“Land Bank has consistently adhered to prudent financial management practices, effectively utilizing its resources to promote agriculture, fisheries and rural development, and empower key development sectors,” it added.
LBP said that despite its P50billion contribution to the MIC, it remains fully committed to its mandate as a reliable partner to the national government’s inclusive development agenda.
Following the P50-billion seed capital allocation to the MIF in
September 2023, LANDBANK’s CAR stood at 16.2 percent which remains above the regulatory requirements.
The state-run bank said it also remitted P32.119 billion in cash dividends to the National Government—the highest among all Government Owned and Controlled Corporations (GOCCs) and in the Bank’s history.
This milestone reflects the Bank stressed, its sustained financial strength and ability to generate consistent revenues while fulfilling its developmental mandate.
Earlier, the IMF said the LBP and Development Bank of the Philippines should pursue capital-management strategies that strengthen their capital position.
The multilateral lender said that while the banks have capital requirements that are well above the regulatory minima, the banks should avoid “non-payment of dividends to the national government.”
THE Board of Investments (BOI) and the Arizona State University (ASU) gathered 51 faculty members from 12 educational institutions in the Philippines to participate in the recent ITSI Semiconductor Faculty Certification Program in-country Workshop.
The workshop was conducted to enhance academe’s curricula and develop a stable talent pipeline that meets the demands of the local semiconductor industry.
In his opening remarks, Acting Director Ronaldo Buluran of the BOI’s Manufacturing Industries Service (MIS) said the demand for semiconductors is expected to be bigger in the country. Hence, he stressed, the workshop would deepen the participants’ knowledge and expertise in this field.
“You, our faculty, will play a crucial role in developing a skilled and trainable workforce for our local semiconductor industry. The skills and knowledge you have gained since this program began in August, along with the outcomes you will bring back to your institutions, will be instrumental in shaping the future of this industry,” Acting Director Buluran told the workshop participants.
The ITSI Fund is part of the US CHIPS and Science Act,
aimed at enhancing global semiconductor supply chains. The Philippines, identified as one of six strategic countries for the project, has been allocated USD13.8 million to support workforce development and public policy reforms within the semiconductor industry.
For the first part of the program, Dr. Danilo Lachica, President of the Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI); Mr. Luke Mendoza of the Office of the Special Assistant to the President
for Investment and Economic Affairs (OSAPIEA); and Dr. May Rose Imperial, Chair of the Technical Committee for Electronics Engineering of the Commission on Higher Education (CHED), discussed the current state of the semiconductor industry in the Philippines.
cial supervision, especially with the DBP and LBP both invested in the Maharlika Investment Corporation’s (MIC).
“Implementing capital restoration plans for two stateowned banks following their contribution to the Maharlika Investment Corporation’s (MIC) start-up capital and exiting regulatory relief as soon as possible is important,” IMF said.
“While the establishment of the MIC can help address the country’s investment needs; it should not come at the cost of a resilient financial system, sound regulatory framework, and levelplaying-field,” it added.
The Land Bank is the largest development financial institution in the Philippines promoting financial inclusion, digital transformation, and sustainable national development.
Present in all 82 provinces in the country, the Bank is committed to provide accessible and responsive financial solutions to empower Filipinos from countryside to countrywide.
The latter part of the program featured an Institutional Group Planning session led by Professor John Ball of Arizona State University. Throughout the workshop, participants shared their insights and suggestions to elevate the semiconductor industry in the country during the equipment mapping activity.
Road-crash cases up 9% on Christmas week–DOH
By Claudeth Mocon-Ciriaco
ATOTAL of 284 road traffic incidents were reported by the Department of Health
(DOH) from December 22-27, nine percent higher compared to last year.
“Mag-ingat sa kalsada! Karamihan sa mga sangkot sa road traffic injuries
Bets reminded vs. campaigning during ‘Traslacion’
By Ferdinand Patinio
THE Commission on Elections on Friday reminded candidates in the May 2025 national and local elections to refrain from campaigning during the Feast of the Black Nazarene in January and respect the solemnity of the religious event.
Comelec Chair George Garcia said it is not yet the campaign season, as he urged poll bets to let the devotees spend January 9 in prayers and devotion. Millions of Black Nazarene devotees participate in the Traslacion procession every January 9. Ang isang banal na gawain tulad ng Traslacion sa Quiapo ay hindi
Professors Hongbin Yu and Ball led the facilitation of the equipment mapping group activity. The participants discussed the sample models for shared infrastructure, models that might be possible in the Philippines, among others. One of the ideas brought up during the equipment mapping group activity was to enable course offerings and infrastructure development through active collaboration between the government (DTI, DOST, DICT, among others) and the private sector.
Semicons are half of total exports THE semiconductor industry accounts for 56.9 percent or USD 41.91 billion of the Philippines’ total exports in 2023. As of October 2024, the industry accounts for around 54 percent or USD33.46 billion of the country’s exports. Similar to critical minerals, semiconductors form part of the strategic components essential for everyday life—clean energy systems, transportation, entertainment systems, communications, healthcare, efficient manufacturing systems, and defense applications. With the growing move towards digitalization of everyday transactions, as well as the application of AI in various systems, the demand for semiconductors is expected to grow significantly and with more sophistication.
See “Road-crash,” A4
ngayong holiday season ay walang suot na safety accessories gaya ng helmet at seatbelt [Be careful on the road. Most of those involved in road traffic injuries this holiday season were not wearing safety accessories like helmets and seatbelts],” the DOH said. Based on the report from its eight pilot sites, 53 incidents begun and they are not deemed candidates. I hope they let the faithful reflect undisturbed and nourish their devotion],” he said. The campaign period for those seeking national positions will begin on February 11, or 90 days before the May 12 polls, and end May 10. The local aspirants have 45 days to campaign, from March 28 to May 10. PNA
pinupulitika kahit pa nga maaring hindi pa simula ng kampanya at hindi pa kandidato. Pabayaan sana na ilaan ng mananampalataya ang panahon na ito upang makapag nilaynilay at mapaigting ang kanilang debosyon [A solemn activity like the Traslacion in Quiapo should be beyond politics even though the campaign period has not
Palace-backed aspirants in winners’ circle in SWS/Stratbase Senate poll
By Butch Fernandez
MALACAÑANG-BACKED Senate aspirants for the upcoming senatorial derby are seen to stay in the winning circle until hitting the finish line, if the results of the Social Weather Stations senatorial preference survey were to hold until May.
with 45 percent of Filipinos saying they intend to vote for him.
This number is 9 percent lower, however, than the previous SWS senatorial survey conducted in September, where he received 54 percent preference.
Senators Bong Revilla Jr. and Christopher Lawrence “Bong” Go were the biggest gainers in the December survey.
down from 34 percent to 31 percent.
Broadcaster Ben Tulfo ranked 6th and received 30 percent support in the first SWS survey conducted since the filing of Certificates of Candidacy in October. His name was not included in the September survey.
Support for former Senator Ping Lacson also increased from 24 percent to 27 percent. He currently ranks 7th.
4Ps leads 1st SWS party-list preference survey for 2025
THE Pagtibayin at Palaguin and Pangkabuhayang
Pilipino (4Ps) party-list topped the first Social Weather Stations’ Party-list preference survey for the 2025 elections, in partnership with the Stratbase group.
occupies three seats in the House of Representatives, including that held by Rep. Erwin Tulfo, who is leading most surveys on senatorial aspirants for 2025. Similarly, Senior Citizens and Duterte Youth are also expected to secure two seats.
Senior Citizens ranked third in the SWS/Stratbase survey with 4.62 percent while Duterte Youth placed fourth with 4.14 percent. Both currently occupy one seat each in the lower chamber.
Administration-backed senatorial candidates continue to occupy 10 of the 12 spots in the latest SWS survey for the 2025 elections, conducted in partnership with the think tank Stratbase Group. The polling firm conducted face-to-face interviews with 2,097 registered voters nationwide from December 12-18, 2024 and had a margin of error of 2.1 percent. The survey asked respondents to name those they will probably vote for as senators if the elections were to take place during the said period. They were presented a list of 70 names and were allowed to choose up to 12.
Support for Revilla increased from 24 percent in September to 33 percent in December, giving him a big boost to second place.
Similarly, preference for Go also increased from 18 percent to 32 percent, pushing him from the tail end (11-13) of the top 12 in September to a comfortable 3rd-4th place in December.
House Deputy Majority Leader Erwin Tulfo retained the top spot
Go is one of the only two Senate bets from PDP-Laban, the political party led by former President Rodrigo Duterte, who made the winning circle.
Sharing the 3rd-4th spot with Go is Senator Pia Cayetano, whose support slightly increased from 31 percent to 32 percent.
Former Senate President Vicente “Tito” Sotto III slid down to 5th place from 2nd place, after his preference percentage also went
Road-crash. . .
Continued from A3
involved alcohol-impaired drivers while 196 were motorcycle accidents. There were also 249 drivers without
Senator Manny Pacquiao and TV host Willie Revillame, who’s running as an independent, share the 8th-9th spot.
Makati Mayor Abby Binay ranked 10th, followed by Senator Lito Lapid in the 11th spot.
Las Pinas Rep. Camille Villar and Senator Imee Marcos share the 12th-14th spot with 21 percent support, with PDP-Laban’s Senator Bato Dela Rosa.
Not far behind is Liberal Party’s former Senator Kiko Pangilinan, who ranked 13th with 20 percent, while ally former Senator Bam Aquino shares the 16th-17th spot with Marcos-backed former Interior Secretary Benhur Abalos at 17 percent.
Senate Majority Leader Francis Tolentino is ranked 19th-20th.
safety accessories.
“Baunin ang disiplina sa inyong paglalakbay para ligtas na makauwi sa inyong mahal sa buhay [Please be disciplined as you journey so you can safely come home to your loved ones],” the DOH reminded.
The face-to-face poll was conducted last December 12 to 18, 2024 and asked 2,097 registered voters nationwide to identify the party-list group they would most probably vote for if the elections were to take place during the survey period. Respondents were presented with the official list of party-list groups from the Commission on Election that was available during the survey period.
Results show that the 4Ps party-list is the only group poised to gain three guaranteed seats for its nominees in the House of Representatives, with 13.51 percent preference.
4Ps currently occupy two seats at the lower chamber.
Under the party-list law, groups which get at least 2 percent of votes are guaranteed one seat. Groups that get more than 2 percent of votes may get additional seats based on a formula: percentage of votes acquired by the group multiplied by the number of remaining seats. Each party-list group can occupy a maximum of three seats in the lower chamber.
SWS survey results show that ACT-CIS ranked second with 5.63 percent and are poised to gain two seats. The group currently
Ako Bicol (3.56 percent), Tingog (2.86 percent), TGP (2.48 percent) and Uswag Ilonggo (2.20 percent), which all got more than 2 percent, are poised to get one guaranteed seat each.
Rounding out the list of top 20 party-list groups in the survey are: Murang Kuryente (1.88 percent); 1Pacman (1.77 percent); FPJ Panday Bayanihan (1.73 percent); Agimat (1.59 percent); PBBM (1.55 percent); Bayan Muna (1.53 percent); Ako Bisaya (1.47 percent); Kabataan (1.43 percent); Buhay (1.40 percent); ACT teachers (1.37 percent); AGAP (1.35 percent); and Edukasyon (1.34 percent).
Party-list representatives shall constitute 20 percent of the total number of the members of the House of Representatives. The remaining unoccupied seats will be allocated to other party-list groups according to their ranking. Each group will only be given one seat. There are 156 party-list groups vying for congressional seats in May 2025. Butch Fernandez
House inquiries pave way for legislative shifts
By Jovee Marie N. dela Cruz @joveemarie
AS the legislative year ended, the halls of Congress stand testament to a productive period that tackled some of the country’s most pressing issues. With a clear focus on transparency, accountability, and public welfare, lawmakers crafted groundbreaking legislation, conducted key investigations, and filed bills aimed at creating meaningful reforms.
A series of high-profile inquiries, spearheaded by the House Quad Committee, brought critical issues such as extrajudicial killings (EJKs), offshore gaming operations, and land ownership abuses to the forefront. These hearings gave rise to several key bills designed to address societal issues head-on.
“Through meticulous and comprehensive inquiries, we have uncovered truths that have guided critical legislative reforms this year. These investigations not only exposed systemic challenges but also paved the way for laws that promote transparency, strengthen accountability, and secure a better future for every Filipino,” Speaker Ferdinand Martin Romualdez told the BusinessMirror.
According to the Speaker, the Quad Comm’s investigation revealed systemic issues requiring urgent legislative action.
The most significant legislation that came out of the Quad Committee hearings includes House Bill (HB) 10986, or Classifying Extra Judicial Killing as a Heinous Crime; HB 10987, or the Anti-Offshore Gaming Operations Act; HB 10998, or the Espionage Law of 2024; HB 11043, or the Civil Forfeiture Act; and HB 11117, or the Fraudulent Birth Certificate Cancellation Law.
Senior Deputy Speaker Aurelio Gonzales reflected on the Quad Committee’s pivotal role in tackling corruption and organized crime. From its August 2024 hearings on the controversial P3.6 billion worth of shabu seizures in Pampanga to illegal activities linked to Philippine Off-
shore Gaming Operators (POGOs), the committee made waves in public discourse and pushed for transparency and accountability.
In the upcoming year, the Quad Committee promises to dig even deeper, with commitments to continue holding hearings and bringing offenders to justice.
Rep. Robert Ace Barbers, lead chairman of the Quad Committee, emphasized that the committee’s ongoing work would shed light on the real impact of POGOs and other unlawful activities tied to national security and public safety.
In line with the committee’s investigations into EJKs, HB 10986 aims to classify EJKs as heinous crimes, ensuring swift legal action and harsher penalties for perpetrators, particularly state agents involved in these crimes. Those convicted could face life imprisonment, emphasizing the bill’s intent to protect human rights and accountability.
The Quadcomm has already recommended filing crimes against humanity charges under Republic Act 9851 against former President Rodrigo Duterte, Senators Christopher Lawrence “Bong” Go and Ronaldo “Bato” dela Rosa, two ex-Philippine National Police (PNP) chiefs, and other high-ranking officials. Barbers said this recommendation stems from their alleged involvement in over 30,000 EJKs during the Duterte administration’s war on drugs.
In another pivotal move, HB 10987 looks to institute a permanent ban on all forms of offshore gaming
THe murang Pagkain Super Committee chairpersons (from right), rep. Ferjenel Biron (Trade and Industry), rep. Wilfrido mark enverga (Agriculture and Food), rep. Joey Sarte Salceda (Ways and means), with Anak Kalusugan Partylist rep. ray reyes, rep. rosanna “ria” Vergara (Social Services) and rep. Luisa Lloren Cuaresma (Food Security) question resource persons from government agencies during the panel’s hearing on November 26, 2024. The panel aims to address smuggling and price manipulation of basic goods and essential commodities with the end in view of achieving zero hunger and promoting food security.
in the Philippines. Citing its role in facilitating serious crimes such as human trafficking, kidnapping, and money laundering, this bill is a response to the escalating concerns over POGOs. The bill includes provisions for a transition program to support Filipino workers displaced by the closure of these operations.
During his State of the Nation Address, President Marcos had called
for a ban on POGOs, further underscoring the government’s commitment to tackling these threats to national security.
As foreign nationals continued to exploit loopholes in land ownership laws, the Civil Forfeiture Act (HB 11043) was filed to address the increasing number of illegal land acquisitions. This bill strengthens the 1987 Philippine Constitution’s provisions, allowing the government to seize properties unlawfully acquired by foreign nationals, with agricultural lands redirected to Filipino farmers.
In response to investigations into the abuse of birth certificates, par-
Unfinished business: Food security, high
AS 2025 approaches, the leadership of the House of Representatives made a resounding declaration: the government’s focus on food security and affordability will take center stage, and no profiteer, smuggler, or manipulator will escape accountability while offering remedies for high electricity costs.
The lower chamber, through its Murang Pagkain Supercommittee, and the newly created Murang Kuryente Supercommittee will go “full blast” against profiteers this coming year.
Speaker Ferdinand Martin G. Romualdez said these super committees’ objectives are to find solutions to further reduce the prices of rice and other essential goods.
The Murang Pagkain Supercommittee seeks to address food affordability, accessibility, and safety while also examining the effects of agricultural practices on food production and insecurity.
“At the start of the year, we will go full blast on the issue, ensuring that food security is achieved and quality rice is affordable throughout the country. We will make sure the prices of basic commodities are stable, and we will also address the affordability or cost of power,” Romualdez said.
Romualdez emphasized that food security is not only a government priority but also a national obligation. He cited the reduction of tariffs on imported rice from 35 percent to 15 percent as a bold move to ease the burden on consumers. However, he raised critical questions about why prices remain high despite adequate supply.
“The government is doing everything. As you know, we recently reduced
the tariff on imported rice from 35 percent to 15 percent. There’s a significant amount of supply stored, yet the prices remain high. That’s what we’re trying to figure out. Why, even now, haven’t rice prices come down?” he emphasized.
According to Romualdez, the lower chamber will further uncover significant cases of large-scale smuggling of agricultural products, manipulation of rice prices by traders, and the creation of artificial shortages of rice.
“These issues reveal specific vulnerabilities in monitoring transactions among wholesalers, retailers, and middlemen. Hoarding, inadequate monitoring, and other illegal activities have resulted in billions in foregone revenues,” he said.
“These problems must be addressed immediately.
Thus, we have requested the executive branch to establish a mega-task force against cartels that manipulate the prices of rice and other essential goods,” he added.
Romualdez said the chamber supports this mega-task force in “every way we can.”
“We will not stop until these cartels are dismantled and their leaders brought to justice. These efforts are not only about exposing wrongdoing; they are about restoring faith in our institutions and proving that this House of the People stands firmly for transparency, accountability, and justice,” he added.
Issuing a direct warning to profiteers and price manipulators, Romualdez vowed to take decisive action.
“To the profiteers out there, the unscrupulous traders and wholesalers, we are coming after you. The House will
energy
costs
pursue you. We will not tolerate this abuse, especially during the Christmas season,” he declared.
He said the supercommittee is now working closely with the National Bureau of Investigation (NBI), Bureau of Customs (BOC), and Department of Agriculture (DA) to conduct inspections of warehouses suspected of hoarding rice and other staples.
Murang Kuryente
Supercommittee
MEANWHILE , House Committee on Ways and Means Chairman Joey Sarte Salceda is set to include in its focus high power costs in the country.
“The Speaker, Speaker Ferdinand Martin Romualdez, has issued instructions to tackle price excesses in the power sector next. Therefore, we will soon convene a Murang Kuryente SuperCommittee,” said Salceda.
He said the panel will focus on issues that already have a clear path forward.
The most prominent among these is the Energy Regulatory Commission’s (ERC) finding of approximately P206 billion in disallowed expenses, including public relations, advertising, and other costs incurred by the National Grid Corporation of the Philippines (NGCP) from 2016 to 2020. During this period, NGCP collected beyond the allowable annual revenues.
“In the distribution sector, when utilities collect in excess of allowed revenues, they usually refund the excess collections without much issue. The transmission sector, a national monopoly, should have no issue doing the same,” he said. Jovee Marie N. Dela Cruz
public funds and institutionalize transparency.
The 12 hearings conducted by the House Committee on Good Government and Public Accountability on the alleged misuse of confidential funds by the Office of the Vice President (OVP) and the Department of Education (DepEd) prompted two key legislative measures aimed at enhancing accountability.
The proposed Confidential and Intelligence Funds Utilization and Accountability Act, or HB 11192, aimed at regulating the allocation and use of confidential funds. This bill proposes stringent guidelines and penalties for their misuse. In particular, it seeks to ensure that CIFs are only allocated to agencies with clear mandates related to na-
ticularly by foreign nationals, HB 11117 focuses on the rapid cancellation of fraudulent birth certificates used in the commission of crimes such as trafficking and money laundering. This bill aims to strengthen the integrity of the country’s civil registry system.
Additionally, the Espionage Law of 2024 (HB 10998) seeks to amend and expand existing espionage laws to strengthen national security by imposing penalties for espionagerelated offenses.
In parallel, the House Committee on Good Government and Public Accountability has spearheaded transformative reforms to safeguard
tional security or intelligence work.
Also, with a focus on regulating the work of Special Disbursing Officers (SDOs), the proposed Special Disbursing Officers Accountability Act, or HB 11193, seeks to enhance the accountability of those responsible for government fund disbursement. Violations could lead to disqualification from public office and heavy fines, reinforcing transparency and public trust in fund management.
“These measures demonstrate our unwavering commitment to good governance, protecting public resources, and ensuring accountability at all levels of government,”
Romualdez said.
Tackling high food prices
ONE of the most urgent issues for Filipino families this year was the skyrocketing cost of essential goods, especially rice. In response, the Speaker formed the “Murang Pagkain Supercommittee,” a strategic task force made up of five congressional committees aimed at addressing food price hikes and investigating the reasons behind the disparity between global and local food prices. With targets like lowering rice prices to P30 per kilo, the supercommittee delves into the influence of monopolies, cartels, and smuggling on food markets. Supported by investigations led by the National Bureau of Investigation (NBI), this initiative also includes legislative reforms, such as the revival of government price stabilization systems and stronger anti-smuggling measures. Rep. Joey Sarte Salceda, chairman of the House Committee on Ways and Means, emphasized the goal of creating a market that benefits Filipino consumers. Despite tariff reductions and declining global prices, local prices have remained inflated due to market manipulation—a focus area for the Murang Pagkain Supercommittee.
The Murang Pagkain initiative is a key component of a broader effort to overhaul the food industry through investigations and at least three legislative reforms: Enhanced Transparency in the Rice Trade by implementing measures to prevent speculative and manipulative activities; Revival of Government Price Stabilization Mechanisms through evaluation of strategies to reintroduce systems that maintain stable prices for essential food items and Stronger Anti-Smuggling and AntiCartel Policies by bolstering legal frameworks to hold individuals and organizations accountable for economic sabotage.
The Supercommittee, which consolidates efforts from the Committees on Ways and Means, Food and Agriculture, Trade and Industry, Food Security, and Social Services, seeks to uncover whether monopolies, cartels, or smuggling schemes are manipulating local prices. Romualdez emphasized that any entities found guilty of such acts will face charges of economic sabotage.
Senate prexy: Hearings, probes not for gossip, but bounty of useful bills
HALFWAY through the third regular session of the 19th Congress, the Senate is on pace to become one of the most productive in history with a total of 72 bills already signed into law – that’s the self-assessment of Senate President Francis “Chiz” G. Escudero, who took over the upper chamber midyear. According to Escudero, the Senate was able to focus on its mandate of passing laws that will help the administration achieve its development plans, strengthen Philippine sovereignty, further enhance the viability of the country as an investment destination, and improve the lives of many Filipinos.
“We maximized each session day and leveraged every hour, minute and second on the Senate floor. We passed 108 bills in total. Of these, 72 reached the President’s desk and were signed into law, including 11 Ledac [Legislative Executive Development Advisory Council] priority measures,” Escudero said on Friday.
Many of these laws, he noted, arose from inquiries in aid of legislation conducted by the various committees of the Senate.
“Our hearings, probes and exposés did not merely serve dinner-table gossip for the people’s entertainment. These brought to the table a bounty of bills that will fill plates, sustain families and nourish Filipinos for generations to come,” Escudero said.
Escudero credited his colleagues and Senate staff with the accomplishments of the Senate
The employees tirelessly worked to deliver meaningful legislation to the people and the country as a whole, he added.
“I wish to convey my heartfelt thanks not only on behalf of the senators, but also our countrymen. I know so much time and effort has gone into this work, for the sake of our people. And I hope our people recognize this,” said the Senate chief, speaking in Filipino.
“Indeed, in the past year we weathered typhoons, braved stormy public opinion and navigated choppy political waters. We overcame these challenges because our 23 senators, strengthened by diversity, sharing a common vision and united in purpose, are more than the sum of its parts,” he added.
The 72 laws enacted from the start of the third regular session on July 23, 2024 until the adjournment for the Christmas break on December 18, 2024, were the most recorded in the 19th Congress, according to Escudero’s office.
In the first regular session, from July 25, 2022 to June 2, 2024, a total of 19 laws were enacted, including the bills approved during the latter part of the 18th Congress.
For the second regular session that ran from July 24, 2023 to May 24, 2024, a total of 54 laws were enacted while five were vetoed by President Ferdinand Marcos Jr.
The Senate also adopted a total of 106 simple resolutions and nine concurrent resolutions in the first half of the third regular session.
“We did not sacrifice quality for quantity, scrutiny for speed nor consensus for expedience in passing these measures. Each bill underwent the crucible of deliberation and debate, carving out the extraneous, the excessive and the unconstitutional,” Escudero said. He said that this rigorous vetting of bills helps in preventing a veto by the President.
However, the Senate is currently embroiled in controversy after several of its members questioned the process by which the bicameral conference committee deliberated on the 2025 budget bill. As a result of what were deemed bicam-initiated insertions, the budgets for health and education were cut, and that for public works swelled, igniting protests from some quarters. The Palace had to reset signing of the 2025 General Appropriations Act (GAA) to December 30, while President Marcos himself leads a “thorough review” of the enrolled
Of the bills approved by the Senate on third reading, a total of 108 were recorded during the Escudero-led third regular session, more than seven times the combined total of 14 in the first and second regular sessions. Forty-four of the bills have been transmitted to the President for his approval, including the 2025 General Appropriations Bill, while seven others are pending action by the bicameral conference committee level.
Former Sen. Leila De Lima attends the 9th Quad Committee hearing, this one on extrajudicial killings, at the House of representatives. She is seated beside her nemesis, former President rodrigo roa Duterte whom she says could still be held liable for crimes against humanity under a 15-yearold Philippine law—r A 9851, enacted two years before the Philippines became a signatory to the rome Statute of the International Criminal Court. The Quad Committee is said to have played a pivotal role in tackling corruption and organized crime. PHOTO BY JOVEE
PHOTO FROM HOUSE OF REPRESENTATIVES
Philippine Sci. HS students get climate leadership training via US Peace Corps
THE United States Peace Corps recently trained students from the Philippine Science High School (PSHS) System for planning and implementing sustainable, science-driven climate solutions in their schools and communities.
During the “Building Student Volunteer Leaders for Climate Change Initiatives” workshop last month in Iloilo City, 36 students from PSHS campuses nationwide trained on conceptualizing, planning and prototyping climate-change solutions. They are expected to implement these projects following consultations with their local communities, exemplifying volunteerism and the role youth can play in the fight against disruptive effects of cli -
mate uncertainties.
Funded by the US Agency for International Development and co-facilitated by climate-change expert-facilitators from “SEED4COM,” the training was part of the US Peace Corps’ broader commitment in addressing global climate challenges by collaborating with host country-partners and integrating climate-change adaptation in USAID’s program and training activities.
“We are partnering with the PSHS System to tap the potential of STEM [or science, technology, engineering and mathematics] education when applied to climate action,” said Country Director Marguerite Roy of the Peace Corps.
OWNER and director of the Multiple Intelligence International School (MIIS) Dr. Mary Joy Canon Abaquin, fondly called “Teacher Joy,” is a staunch believer of teaching kids the ropes of entrepreneurship, and at the same time importance of sustainability.
MIIS developed the “MI Kids Can! For Kids, By Kids” bazaar as a platform to train their students into becoming productive individuals and responsible citizens. It started in 2000 as the first and only youth-entrepreneurship bazaar run by grade-school students. Proceeds were allocated to support disabled child-beneficiaries of Bahay Mapagmahal. Through the years, the bazaar has supported causes dear to the students’ hearts: from helping create a forest as a watershed in partnership with their peers in Brgy.
FILIPINOS often embark on journeys abroad with hopes of a brighter future, filled with anticipation and excitement. These aspirations often extend beyond personal goals, influencing families and communities in significant ways. Yet, the path to realizing these dreams is often tackled with hurdles, needing resilience, determination and the right support to succeed on the global stage. For many, English language proficiency is key to unlocking these opportunities. Whether advancing careers, pursuing further education or starting a new life, taking the International English Language Testing System is a critical step. The British Council, which is co-owner of the IELTS test, delivers the exam and offers support for individuals preparing for international assessments so they can adapt to a life abroad. Here are three Filipinos who successfully navigated personal and professional challenges to thrive in their new homes.
Tranca in Bay, Laguna; to helping kids with cancer, river clean-ups, feeding programs, and helping address social, economic and environmental problems.
The bazaar’s 2024 edition, held on December 1 at the UP Town Center, featured 26 exciting student booths, with one dedicated for each class from preschool to Grade 12. These showcased the young entrepreneurs’ creativity and advocacy, with every product intentionally crafted or chosen to support a specific United Nations Sustainable Development Goal (SDG), according to MIIS’ Marketing and Business Development officer Anica Catarina Abaquin. She said that, “for instance, our Grade-12 students spotlighted SDG 5 or ‘Gender Equality’ and SDG 8 or ‘Decent Work and Economic Growth’ with their ‘Bayong-All-You-Can’ experience. Shoppers can purchase
“I am excited to see… participating students [building on this training, bringing their projects to life, and influencing] others to become agents of change.”
Student-participants, together with 16 PSHS System faculty members, eight Peace Corps volunteers and their work partners, also had discussions and field visits to local climate resilience projects: the Leganes Integrated Katunggan EcoPark, Climate Field School, and Orchard Valley Farm to deepen their knowledge on climate change, biodiversity conservation, disaster-risk reduction and volunteerism.
DepEd, BDONB’s ongoing support boosts teachers’ financial goals
PUBLIC- SCHOOL teachers stand to benefit from the ongoing support of the Department of Education (DepEd) and BDO Network Bank (BDONB)—particularly in arming them with financial knowledge to help them achieve their personal goals.
For many teachers, gaining financial literacy helps them practice financial discipline and make informed decisions on budgeting, saving and debt management.
On the importance of practical budgeting in particular, knowing where their money goes every month has taken so much stress off teachers who are already loaded with the daily grind of teaching. This knowledge assists in avoiding debt traps as they are able to manage and prioritize their expenses better.
Dreams beyond borders FOR Lianne de Vera, who is a British Council scholarship-grantee and now the marketing communications head of a London-based non-profit, the dream was always to broaden her horizons.
Initially believing her strength was in writing, her speaking skills surpassed her expectations after taking the exam and scoring higher in speaking than in writing: “Taking the IELTS felt like a stamp of validation. It gave me the confidence to engage with my peers and professors.”
Earning a scholarship through the British Council’s “IELTS Prize” further motivated her to hone her skills in her field. She shared that “the IELTS was an eye-opener. I’m not particularly an extrovert and not comfortable speaking in public, but I did well with my speaking, showing me that I could surprise myself.”
Moving to Canada to work as a nurse was a long-standing goal for Thomas Aguila. This also required
a ‘bayong’ handcrafted by women weavers and fill it with…fresh, locally sourced produce... It’s a fun, eco-friendly way to support local farmers and artisans while promoting sustainability.”
The bazaar, according to her, gave students the opportunity to gain confidence, as they interacted with “the real marketplace and the public.” There, they were given different roles: as cashier, marketer, booth designer and product packaging.
“The bazaar served as a platform to raise the next generation of leaders who will want to care to use their smarts to make a difference and make the world a better place for all,” said Dr. Abaquin, who wrote the best-selling Go Negosyo book: “8 Simple Secrets to Raising Entrepreneurs.” MIIS, for its part, was awarded with the “Go Negosyo Youth Enabler Award for Basic
The US Peace Corps-sponsored training supports “Project Planet Lemniscate:” a PSHS System initiative that uses project-based learning and design thinking in its campuses that empower students to develop innovative solutions for climate change.
The workshop also served as a platform for PSHS System students to collaborate with experts and fellow volunteers, receive feedback on their project proposals, and refine their project prototypes.
“This program provides a structured framework for advocacy, which will be incorporated in our climate action plan,” said Executive Director Ronnalee Orteza of the PSHS System. For him, youth involvement is key: “We cannot afford to wait until it’s too late.”
Education.”
MIIS gives students in preschool to senior-high school the opportunity to create products or business plans by applying lessons in Math and Entrepreneurship. Dr. Abaquin explained that they learn not only about business, but 21st-Century skills like creativity, collaboration, communication, critical thinking and problem-solving.
“Intelligence was defined by Dr. Howard Gardner as ‘the ability to create products that are valued in a cultural setting,’” said Dr. Abaquin. “In line with the MIIS framework, we believe that intelligence has to be applied. Entrepreneurship is very much in line with creating products that are valued. The bazaar’s advocacy is very much aligned with the MIIS motto: ‘Use Your Intelligences to Make A Difference.’” Rizal Raoul S. Reyes
Saving for future goals also gives teachers tools to start building funds for their imminent needs, including retirement. Being financially educated, public-school teachers can also impart these money management strategies to students.
“Here in DepEd, we’re looking for ways to train our teachers on financial literacy because they can’t teach that to their students if they themselves don’t know anything about it,” DepEd-National Capital Region Regional Director Jocelyn Andaya said. “Our teachers play a very crucial role in teaching financial literacy to our students: It’s important that at a young age, [our learners] are already taught to be self-sufficient financially, and know how to budget and plan for their future.”
She added that, in partnership with BDO Unibank’s corporate social responsibility arm BDO Foundation, financial seminars are held wherein pockets of teachers are trained—a crucial exercise since financial literacy is already part of school curriculum among elementary and high-school students.
Andaya shared that their next plan is to produce an instrument to measure the level teachers are at right now in terms of their own financial literacy: “That’s where [private entities], such as BDO, can come in to help us not just by having more modules, but by also capacitating our teachers. It should be a sustainable thing for us so that we will know the progress in, say, three years’ or five years’ time.”
BDO Network Bank—the community banking arm of BDO Unibank—values the role of teachers as the backbone of education and the true heroes shaping the future of the next generation.
BDONB said it is deeply honored to have the chance to partner with DepEd in aiding and empowering these educators, citing that when teachers thrive, so do their students, their communities, and the nation as well.
For BDONB’s senior vice president and head of Salary Loans Group Alberto O. Quiogue, teachers are really the heroes: “Day in and day out, they’re the ones who sometimes spend more time with our
children. So it’s very important that we support them because it’s like supporting our own family. [Their success] will depend on the support they get not only from the government, but even from the private sector.”
With its tailor-fit products, services and regularly conducted financialliteracy seminars, BDONB envisions teachers better equipped to reach their financial goals.
Quiogue added that teachers with sufficient knowledge and confidence in their own financial know-how will be able to do their jobs very well, and not be mentally burdened by money-related problems: “We believe financially sound teachers can function and be very efficient. [Those who have money concerns get bogged down and can’t teach very well, as] there are many things in their minds.”
He added that the financial-literacy program is helping them become more efficient: “I think the most important thing we promote to teachers is responsible borrowing and financial wellness. Every time we have an opportunity, we give them a little talk on [the topic], how to achieve their financial goals by managing their money well, and knowing the difference between a good loan and bad loan.”
All year-round support MORE than the products it offers, community engagements and seminars it holds, BDONB said its full support to DepEd’s cause can be gleaned from its unwavering commitment to the agency’s programs all-year round. It includes being one of its corporate partners for the World Teachers’ Day celebration and other activities.
“[BDONB always supports] the teachers and the many endeavors of DepEd. Any support that they need, we’re all-out for them,” Quiogue said. “We support the ‘Palarong Pambansa’ [as well as] the yearly ‘Brigada Eskwela’ where we help clean, paint and fix the schools. There’s also a program where, at the start of the year, we give donations to the students and teachers. We’re always there to help them.”
the right credentials. His employer and the academic institution where he is completing his degree units easily recognized his IELTS certification because it was from the British Council.
“If I had taken another test, I think the outcome would’ve been different,” Aguila explained. “The process was much smoother, and I got my results quickly from the British Council.”
He added that improving his English skills also helped him be more attuned to his patients’ needs and adapt to the foreign environment.
Meanwhile, after years of navigating the paperwork to move to Bermuda, Hannah Velasco took the leap to relocate from her hometown of Dagupan three years ago. It was an adjustment that pushed her out of her comfort zone, but it led to fulfilling experiences that extended beyond her career. Beyond her life as a nurse, the skills she gained in her IELTS journey helped her adapt to a
foreign community.
Velasco said that talking to people from different cultures has been one of her most rewarding experiences: “Improving English through the IELTS not only made me more fluent, but it also broke down barriers. I gained friends and insights into their cultures, which made my transition smoother.”
Stepping stone to success THE IELTS journey also provides individuals with the skills needed to create life-altering experiences.
De Vera shared that IELTS opened the doors for her to step into a new chapter, leading to career and study opportunities, as well as the chance to live abroad and raise her family.
Aguila echoed this, and shared how the exam helped him achieve his dream of
After
Editor: Mike Policarpio
Tourism Editor: Edwin P. Sallan
WINGS OVER CAPPADOCIA
High above the ‘fairy chimneys’ of this popular Turkish region
Early in the morning, a driver picked us up from our hotel and transferred us, via minibus, to the balloon site for our thrilling Hot air Balloon ride, one of the best ways to discover and explore the area of Turkey’s Cappadocia and a must-do if you are in the area. Here, we were to see scenic Cappadocia like you’ve never seen it before, through this oncein-a-lifetime, hour-long flight on board a colorful hot air balloon.
This has been planted firmly at the top of my bucket list ever since I saw photos of the magical Cappadocian landscape topped with a sky filled with colorful hot air balloons. The most popular location in the world for hot air ballooning. Last year, over half of the world’s balloon trips took place in the Cappadocia region, with almost half a million people taking to the skies.
Cappadocia has an amazing and spectacular landscape of cave-like
dwellings, the animal rock formations of Devrent Valley, fairy chimneys of Monks Valley, towns such as Mustafapasa, and the rock-hewn, domed churches dating back to the Byzantine post-Iconoclastic Period, as far back as 4th century, all sculpted by erosion over thousands of years. Today, what is left are these amazing troglodyte villages, underground cities that once contained human habitat and beautiful valleys that go for as far as the eye can see.
Cappadocia is also one of the few places in the world you can soar in a balloon almost all year round, with trips running during boiling hot summers and snowy winters (when the whole area is covered in a thick layer of snow), with the “fairy chimneys” landscape looking incredible in both.
Upon arrival at the balloon company’s office, we were greeted with a light breakfast of pastries and tea or coffee while waiting for the decision, by the Civil Aviation Authority, on whether it would be safe to fly. When the green flag was given, we set off to the balloon take-off zone.
To board it, they lay the basket on the side, with deflated balloons lying on their sides, and you crawl in.
It was quite a sight to see, up close, the busy balloon staff setting them up, checking them for safety and starting to inflate the balloon. Soon after, it was time to hop into the now upright basket which is split into 5 sections—4 squares, which each fit 4 people, and a long section, in the center, for the pilot.
Upon boarding our balloon, we drifted peacefully, at sunrise, for extraordinary, amazing and unbelievably breathtaking 360-degree views of Cappadocia, seeing all its landmarks from above. During our flight, the day was like a fiesta, with the sky filled with around 100 balloons with different colors and designs. We didn’t have to worry though (actually, the view of
the other balloons in the sky made it a completely magical experience) as Cappadocia happens to be one of the most highly regulated places, with an excellent safety record.
Our pilot was very experienced, navigating the incredibly uneven landscape, flying safely so close to other balloons, in an aircraft which only has the ability to go up and down.
To fly here, he must train for around 5 times as long as in other parts of the world. While piloting our balloon, he also explained all the sceneries that we saw during the flight.
The views, over the next hour or so, were breathtaking and the landscape constantly changing color, as the minutes ticked by, as we drift -
PPaler
alawan captivates its visitors with majestic limestone cliffs that plunge into the sparkling sea. However, the island’s true allure extends beneath the surface, literally and figuratively.
Take Coron, for instance, where its depths reveal a fascinating tapestry of sunken ships, their hulls now home to vibrant marine life, always explored by divers. a side from its depths, lakes and lagoons, the islands itself in the neighboring municipality, Culion hold some secretive allure that will make you want to stay.
If you are in the northernmost part of Palawan to get immersive, personal experiences, Sunlight Ecotourism Island Resort (SETIR) is one place to go. You get that plus unforgettable flavors too. l ocated in n aglayan Island, my recent stay at the 18 hectare island resort was quite a journey, with key experiences made more vibrant with the flavors they serve in this island.
SETIR has 10 different restaurants, catering to different international cuisines, which means you are spoiled for choice. we enjoyed meals at a couple of their restaurants during our stay. The Mangrove is quite notable, as its strength lies in serving the best home cooked Filipino meals for its visitors. Our dinner started with a serving of their Pork Belly that’s been stuffed with aromatics like lemongrass, and its skin extra crispy and shattering with every bite. They also served up some meaty, fresh crabs in butter garlic sauce, which upped the ante
on the island vibes. a nd believe me, you will want to go down and dirty with your fingers for how tasty and fresh these are.
Nightcaps and magical marine life amidst the stars aS the resort was blanketed with lots of stars that night, we discovered the resort’s two best spots for drinks, perfect for a nightcap. l una, where you will get to see more wonders about the marine life in the area, and Ric’s Place, a haven for whiskey, cigars, and other luxury indulgences, boasted a curated selection of
ed through the different areas. We passed the famous Fairy Chimneys, Monk’s Valley, Imagination Valley, pigeon houses, plenty of cave houses and vineyards.
From the amazing maximum altitude of about of 800 m., the panoramic views of surreal landscape of the region was completely mind-blowing while, from the lowest points, we could almost pick fruit from the trees. The motion back to the ground was effortless and we landed precisely on the balloon’s trailer. Once back on dry land, we were rewarded with a champagne toast and a certificate. Overall, it was a very impressive, professional and truly great and unforgettable experience.
Story & photos by Benjamin Locsin Layug
Story & photos by Nicole
A8 Saturday, December 28, 2024
• Editor: Gerard S. Ramos
GOOGLE FORGES AHEAD WITH ITS NEXT GENERATION OF AI TECHNOLOGY WHILE FENDING OFF A BREAKUP THREAT
SAN FRANCISCO—Google on Wednesday unleashed another wave of artificial intelligence designed to tackle more of the work and thinking done by humans as it tries to stay on the technology’s cutting edge while also trying to fend off regulatory threats to its empire.
The next generation of Google’s AI is being packaged under the Gemini umbrella, which was unveiled a year ago. Google is framing its release of Gemini 2.0 as a springboard for AI agents built to interpret images shown through a smartphone, perform a variety of tedious chores, remember the conversations consumers have with people, help video game players plot strategy and even tackle the task of doing online searches.
In a blog post, Google CEO Sundar Pichai predicted the technology contained in Gemini 2.0 will “understand more about the world around you, think multiple steps ahead and take action on your behalf, with your supervision.” It’s a similar goal being pursued by hard-charging rivals such as OpenAI, with its chatGPT technology, and industry powerhouse such as Microsoft with a variety of similar tools on its Windows software.
A lot of Google’s latest AI technology will initially be confined to test groups and subscribers who pay $20 per month for Gemini Advanced, but some features will be made available through its search engine and mobile apps. Google is planning wider releases next year that will include the technology popping up in its smorgasbord of free products, including its Chrome browser, digital maps and YouTube.
Besides trying to outshine OpenAI and other ambitious startups, Google is also trying to stay a step ahead of Apple as that trendsetting company begins to blend AI into its latest iPhones and other devices. After releasing a software update enabling the first bundle of the iPhone’s “Apple Intelligence” features that spruced up the device’s Siri assistant, another batch of the AI technology came out with a free software update that was also released on Wednesday. AP
APPLE COMPLAINS META REQUESTS RISK PRIVACY IN SPAT OVER EU EFFORTS TO WIDEN ACCESS TO IPHONE TECH
LONDON—Apple complained that requests from Meta Platforms for access to its operating software threaten user privacy, in a spat fueled by the European Union’s intensifying efforts to get the iPhone maker to open up to products from tech rivals. The 27-nation EU’s executive Commission is drawing up “interoperability” guidelines for Apple under its new digital competition rulebook. The interoperability measures would ensure that devices like smartwatches or features like wireless file transfers work as smoothly with iPhones as do Apple Watches or AirDrop.
The EU’s rulebook, known as the Digital Markets Act, aims to promote fair competition in digital markets and prevent Big Tech “gatekeeper” companies from cornering markets. The commission posted proposed measures late Wednesday on how Apple should make its iOS operating system work with other technology.
In response, Apple said it’s “concerned that some companies—with data practices that do not meet the high standards of data protection law held by the EU and supported by Apple—may attempt to abuse the DMA’s interoperability provisions to access sensitive user data.”
The company singled out Meta, saying it has made at least 15 requests “for potentially far-reaching access to Apple’s technology stack” that would reduce privacy protections for users. If those requests were granted, “Facebook, Instagram and WhatsApp could enable Meta to read on a user’s device all of their messages and emails, see every phone call they make or receive, track every app that they use, scan all of their photos, look at their files and calendar events, log all of their passwords,” the company said in a report.
Meta, which owns Facebook and Instagram, fought back.
“Here’s what Apple is actually saying: they don’t believe SEE “APPLE,” A9
BusinessMirror
Netizens’ #cancelled list for 2024
AT presstime, the hottest issue on X and TikTok involves artist Denise Julia and creative BJ Pascual, a celebrity photographer. Pascual guested in a podcast and talked about how Denise Julia exhibited unprofessional behavior by not showing up for a supposedly scheduled photo shoot with him.
Denise Julia, on Christmas Day, posted videos and screenshots on her Instagram Stories of her side of the story
So this column is not about who is right and who is wrong. Rather, it will talk about the controversies that rocked the internet in 2024.
By the way, the Killakushla podcast Bad B*tch Bible featuring BJ Pascual gave birth to another issue. Shortly after the podcast aired (during which host Killkushla said Denise Julia was four hours late when she guested on the show), beauty content creator Pau Pelaez called out Killakushla for ruining her debut two years ago by failing to show up.
It turns out that Pelaez invited Killakushla to her debut party and the latter and her plus one failed to show up because of a personal matter. As I write this, the jury is still out on this but netizens are favoring Killakushla’s POV over Pelaez’s.
Another recent controversy involved actors Maris Racal and Anthony Jennings and the latter’s former girlfriend, who exposed their alleged cheating via screenshots. All over social media, Maris was vilified as someone who stole another woman’s boyfriend but in real life, people were just laughing about it. The comments on Maris’ social media posts were so bad that she had to turn off the comments but I doubt that anyone came up to her in real life to berate her.
I admit that I enjoy celebrity gossip up to a certain point but I can say that I would never make the effort to comment anything negative under a celebrity’s post whenever there’s an issue. I am not one to judge because you don’t really know what motivates people. I remember saying I don’t know why people were so invested in what Maris allegedly did and a friend remarked that they were probably cheated on in the past, which is why they are so angry.
Another hot topic online is the rift between Olympic medalist Carlos Yulo and his family. It didn’t help that Yulo’s girlfriend is social media influencer and YouTuber Chloe San Jose, who has bleached blonde hair and is not the “simple girl” that Filipinos prefer. The battle was more online than in real life with Filipinos hating on Chloe for her perceived control of Yulo.
In July, Cebu-based personality and LGBTQ+ community member Jude Cabalso earned the ire of netizens after a photograph of her talking to a
restaurant wait staff made the rounds online. Bacalso was allegedly berating said staff member for calling her “sir.”
In 2024, Filipino singer Shaira Moro’s song “Selos” was a big hit but it was taken down from streaming platforms after Australian singer Lenka said Moro used the melody of her song “Trouble Is a Friend.”
Eventually, the matter was settled between Moro and Lenka and “Selos” made it back on streaming platforms.
During Olivia Rodrigo’s concert in Philippine Arena, TikTok content creator and former flight attendant Jen Barangan filmed herself with her phone camera flash switched on. She later posted this online and earned the ire of netizens. They pointed out that flash photography wasn’t allowed and Barangan’s action inconvenienced other concert-goers.
Later on, Barangan apologized on Instagram, saying, “To everyone, I’m so sorry for my actions.” She also posted the same statement on Facebook and TikTok.
So many people, celebrities and private citizens, have been canceled online and many more will be in the coming year. I just wish people would be kinder when they comment under posts related to current issues. I know that most of us like to gossip about these issues but taking our comments and opinions beyond our own thoughts and group chats is cruelty, in my opinion. I am not saying that gossiping is right but posting nasty comments can certainly be avoided. ■
Creators need to simplify Web3 to the mainstream market
BY RIZAL RAOUL S. REYES
TO boost the popularity of Web3 in the mainstream market, its creators must also help to simplify complex technologies and champion new concepts like digital asset ownership for their audiences. Increasingly, the occupation is seen as a legitimate and rewarding career path, requiring strong creative and business expertise.
“In web3, there are the builders, there are the gamers, and there are the creators. Creators are especially important because they are the front-facing people who keep the gaming space alive. They provide not just entertainment but also educational value,” said “YellowPanther,” co-founder of Gaming Grid and official ambassador to the Yield Guild Games (YGG) Play Summit, who was named the GAM3S.GG 2024 Content Creator of the Year during the recent GAM3 Awards held in Manila.
“Yellow Panther” said the launching of more games
will present several opportunities to develop more creators. With more games launching, there are so many opportunities to be a creator. For interested parties, he said all a budding creator needs is to start posting and stay consistent, hoping that the next piece of content “might just go viral.”
“Creators drive awareness and engagement and play a pivotal role in shaping the narratives and communities that fuel the Web3 gaming industry’s growth,” said Wolves DAO marketing director Sam Steffanina. “Bringing this group of creators to Manila wasn’t just about content production; it was about East meeting West and seeing firsthand the Philippines’ impact on Web3 gaming and shaping the industry’s future. Supporting YGG’s mission and amplifying their vision made this event impactful for everyone involved, solidifying why WolvesDAO prioritizes initiatives like these.”
Built on blockchain technology, Web3 is decentralized as it distributes power and control away
from a central authority. As a result, it fosters a more democratic and resilient system that’s resistant to hacking and manipulation.
As for the ownership, Web3 users can determine who can access, use, or monetize their data without relying on third parties.
Transparency and accountablity are guaranteed as all transactions are publicly recorded on the blockchain. Moreover, Web3 is permissionless as users can communicate freely without asking for permission from a central authority.
Web3 will expand the reach of the internet to include everyone, regardless of location or device.
Other benefits of Web3 include: fewer intermediaries, efficient searching and information linking, personalized web surfing experience, uninterrupted services, better marketing, tokenization and monetization, effective supply chain management, incentives for collaboration, interoperability.
GLOBE POWERS NEW YEAR’S EVE CELEBRATIONS IN 5G CITIES
TELCO giant Globe is sponsoring New Year’s Eve’s biggest celebrations at the 5th in BGC, Taguig City and Ayala Triangle in Makati City. As the country steps into 2025, Globe is committed to providing an unforgettable experience filled with electrifying performances, exciting giveaways, and seamless network connection to keep consumers connected with their loved ones.
“At Globe, our customers are at the heart of everything we do. We are dedicated to empowering Filipinos and supporting the evolving needs of families, by providing innovative digital services that enrich lives and connect people. We want our customers to experience this at the New Year celebrations in 5G cities—BGC in Taguig and Makati City—through our reliable 5G network and the exciting activities we prepared,” said Darius Delgado, Globe chief commercial officer.
Ten lucky customers will have the chance to win VIP Standing tickets to “NYE at the 5th” by simply redeeming two Rewards points via G Swipe on the GlobeOne app. Enjoy the festivities without a hitch, thanks to the telco’s reliable connectivity support ensuring seamless communication. Stay connected and share those special New Year’s Eve moments with friends and family online, thanks to Globe’s reliable network, powered by its expansive 5G coverage.
And to ensure consumers capture every unforgettable moment, GlobeOne app users can get their photos professionally taken for free at the MomentsLab Photo Studio. Just show your GlobeOne app profile and strike a pose. You can even take home a printed copy of your photo by making a transaction within the app. In Makati, visit Globe booths and enjoy the telco’s reliable connectivity at the New Year Countdown. Those who couldn’t join on site may also watch livestream the highly anticipated event via the Make It Makati Facebook page on December 31, powered by Globe’s 5G connectivity.
Those who join can also pay it forward by donating to The Hapag Movement and accessing the interactive “Forward Meter” machine. Gather friends, cheer as loud as you can to fill up the meter, and receive exclusive merchandise. More information is available at www.globe. com.ph.
PHOTO BY ROBIN JONATHAN DEUTSCH ON UNSPLASH
Honor X7c or Tecno Spark 30 Pro: Best under P9k?
IN there’s one thing we’ve learned during the holidays, it’s that budget-friendly smartphones are among the most requested gift ideas. Every year, we receive countless messages asking, “What’s a good phone under P10,000?” It’s no surprise—smartphones make for fantastic gifts. They’re practical, versatile and appreciated by just about anyone, whether it’s for a sibling heading back to school, a friend who needs a reliable upgrade, or maybe even a backup phone for yourself. This is probably the sweet spot when it comes to buying a smartphone during this season.
Continuing from our Christmas Gift Guide’s theme of thoughtful, memorable gifts, these smartphones are ideal for anyone who values a balance of practicality and useful features. Imagine unwrapping a sleek new phone that performs well, takes great photos, and still leaves some room in the holiday budget—what better way to celebrate the season?
In this part of our gift guide, I’ll introduce you to two of my favorite phones under P10,000 that were just recently released—the Honor X7c and the Tecno Spark 30 Pro Transformers edition. One is perfect for those who need a phone that can withstand more than the daily abuse, and the other is one of the best collaborations I’ve seen this year. With these picks, I hope to make your holiday shopping a little easier and a lot more exciting. Let’s dive in.
MORE THAT MEETS THE EYE: TECNO SPARK 30 PRO TRANSFORMERS EDITION
AS a lifelong Transformers fan and collector, I knew I just had to have the Tecno Spark 30 Pro Optimus Prime Edition Having previously reviewed Tecno’s Camon, Pova, and Spark series—and currently using the Phantom V Flip 2—I’ve consistently been impressed by how much value Tecno delivers at competitive prices. While there have been a few Transformers collaborations before, this is the most affordable at P7,999—and a standout example of how to execute a budget smartphone collaboration perfectly. At a glance, it captures the imagination with its striking Optimus Prime-themed box design, but the appeal doesn’t stop there. The unboxing experience alone is way better than opening some premium flagship. The packaging itself sets the tone, adorned with bold Transformers artwork and a box featuring an embossed Autobot logo. Inside, you’ll find everything you need: the phone, a protective case, a 33W fast charger, a USB-C cable, and a SIM ejector tool. While the essentials are all there, I was hoping to get some collectible freebies like stickers or maybe a collectible card. The Optimus Prime-inspired design is one of the most distinctive features of this special edition. The back panel features a dynamic mix of red, blue and silver accents, reflecting the iconic look of the Autobot leader. It’s not just painted on either— the texture and detailing make the phone feel like a piece of Optimus Prime himself. Whether you’re a Transformers fan or just someone who loves bold, eyecatching gadgets, this phone is a conversation starter. Once powered on, the experience continues with customized Transformers-themed software. There are also a few wallpapers, app icons and ringtones. It’s thoughtful touches like these that make this collaboration feel authentic and exciting rather than just another branding exercise.
Functionality is where the Spark 30 Pro Optimus Prime Edition proves that there’s more than meets the yes. The 6.78-inch AMOLED display is a treat for the eyes, boasting vivid colors, deep contrasts, and an impressive 120Hz refresh rate. Watching videos, scrolling through social media, or playing games feels smooth and responsive, and the TÜV Rheinlandcertified low blue light emission ensures your eyes won’t tire even after prolonged use.
The camera setup is another highlight of this
phone. The 108MP main sensor delivers sharp, detailed images, making it one of the best cameras you’ll find at this price point. From landscapes to portraits, the photos consistently impress with vibrant colors and excellent dynamic range. Even in low light, the Super Night Scene mode ensures that your shots retain clarity and brightness. One mode you definitely have to try is Sky Shop. This allows you to change the sky using various filters. AR shop lets you create your own avatar for videos and photos, while the Vlog mode lets you instantly shoot videos that are just the right length for your stories. For selfies and video calls, the 13MP front camera, equipped with dual-color temperature flash, captures clear and flattering images.
Under the hood, the Spark 30 Pro is powered by the MediaTek Helio G100 processor, a solid choice for a midrange device. It handles everyday tasks like messaging, web browsing, and video streaming with ease, and even casual gaming is a breeze. The phone is backed by 8GB of RAM, expandable by another 8GB of virtual memory, ensuring smooth multitasking and responsiveness. With 256GB of storage, there’s plenty of room for photos, apps and games, making it ideal for users who need space but don’t want to splurge on higher-priced devices.
Battery life is another area where the Tecno Spark 30 Pro shines. The 5000mAh battery ensures all-day use, even for heavy users. With the 33W fast charger included in the box, you can quickly top up the battery, going from zero to 100 percent in just over an hour. Tecno’s AI Smart Charging feature learns your charging habits to optimize battery health, ensuring it stays reliable over the long term.
At an official price of P7,999, almost the same price of a Transformers Masterpiece figure and which can get even lower during online sales events, the Spark 30 Pro Optimus Prime Edition offers incredible value. For Transformers fans, it’s more than just a phone—it’s a collectible that blends functionality with fandom. If you’re looking for the perfect gift for a Transformers enthusiast or just want a phone that feels unique, the Tecno Spark 30 Pro Optimus Prime Edition is a choice that’s hard to beat.
HONOR X7C: A SPLASH OF GREAT VALUE WHEN it comes to viral smartphone campaigns, I don’t think any other brand comes close to Honor. The brand has built its reputation on delivering smartphones with exceptional durability, with models like the Honor X9a, X9b, and the more recent X6b standing surviving all sorts of drop and smash tests. The Honor X7c takes that legacy further by adding IP certification, making it one of the most resilient budget phones on the market. For just P8,999,
this smartphone is built to withstand the demands of even the most active and daring users.
The Honor X7c boasts of an IP64 rating for water and dust resistance. This means it’s protected from splashes and brief immersion, making it a reliable companion for delivery riders braving sudden rain showers, or parents handing it over to kids who aren’t exactly careful with electronics. Its all-angle water resistance isn’t designed for deep water adventures, but it can survive the occasional spill or light drizzle, adding peace of mind in situations where other phones might fail. During the launch, we tested it for several water activities and the phone survived all those slips and dips—just make sure you don’t submerge it for more than a few minutes (or press the volume/power button while underwater)
The phone’s durability doesn’t stop there as it also received a 5-star drop resistance certification from SGS Switzerland, meaning the Honor X7c is built to withstand accidental drops and everyday impacts. This ruggedness makes it a practical choice for people who rely on their devices in tough conditions, or want a reliable second phone that can take a beating or their mood swings. It’s a phone you can trust to keep going, even in less-than-ideal circumstances.
Besides its durability, the Honor X7c is also a wellrounded performer for its price. Its 6.77-inch TFT LCD display offers a smooth 120Hz refresh rate, which is a treat for gaming and when scrolling through social media. While the resolution is capped at HD+, the screen delivers decent quality for casual streaming and everyday use. The 850-nit peak brightness ensures good visibility outdoors, and the ability to dim to just 2 nits make it comfortable to use in dimly lit environments.
Powering the device is the Qualcomm Snapdragon 685 processor, which is capable of handling everyday tasks like social media, video streaming, and light gaming. Paired with 16GB of RAM (8GB physical and 8GB virtual) and 256GB of storage, the phone provides smooth multitasking and ample space for apps, photos and videos. It’s not the most powerful chipset on the market, but it’s efficient and gets the job done, making it a dependable workhorse for users who need reliability over raw power.
The Honor X7c’s 6000mAh battery is another highlight, delivering impressive longevity that can easily last a full day of moderate use. In real-world testing, it offered over 18 hours of screen time with 20 percent still left in the tank, which is ideal for users who are constantly on the move. And when it’s time to recharge, the 35W SuperCharge technology ensures you won’t be tethered to a power outlet for long. For those moments when every percentage matters, the Ultra Power Saving Mode squeezes out additional
usage, perfect for emergencies.
Camera performance is respectable. The 108MP main camera captures detailed shots in good lighting, while the 2MP depth sensor adds depth to portrait photography. The 8MP front camera is serviceable for selfies and video calls, though it lacks advanced features like wide-angle shots or stabilization for videos. The Honor X7c’s value lies not just in its affordability but in how well it balances practicality with durability. It’s a phone that can handle the unexpected, from accidental spills to the rigors of everyday use, without compromising on essential features. Like I said, it’s a great choice for messengers/ riders navigating unpredictable weather or parents needing a reliable second phone for their young kids.
At its core, the Honor X7c is a budget phone that punches above its weight. It doesn’t try to be flashy or overpromise on features. If you’re looking for a phone that works as hard as you do, the Honor X7c delivers exactly that.
FINAL WORD: When it comes to choosing the best smartphone under P9,000, both the Honor X7c and the Tecno Spark 30 Pro offer incredible value, each catering to different needs and personalities. If durability and dependability are your top priorities, the Honor X7c is a rugged companion that can handle life’s unexpected moments. Its long-lasting battery and solid performance make it a practical choice for active users, parents, or anyone in need of a reliable second phone.
On the other hand, the Tecno Spark 30 Pro is a standout for those who appreciate bold designs, great displays, and a better camera. Whether you’re a diehard fan or simply looking for a unique, featurepacked smartphone, this device offers something truly special and deserves a spot on your Christmas list. ■
CONTINUED FROM A8
in interoperability,” Meta spokesman Andy Stone said in a post on X. “In fact, every time Apple is called out for anticompetitive behavior, they defend themselves on privacy grounds that have no basis in reality.” The Brussels-based European Commission’s proposed measures call for an approach based on Apple’s
existing “request-based process,” in which developers ask for access to features and functions. Apple should provide a “dedicated contact” to handle requests and give updates and feedback, and there should be a “fair and impartial conciliation” process to settle disagreements on technical issues. The commission is now asking for feedback from the public by January 9 on the proposals, including from any companies that have made interoperability requests from Apple, or are thinking of doing so. AP
A10 Saturday, December 28, 2024
Storm ravages first day of Sydney-Hobart race
Tlong history of deaths at sea. The Cruising Yacht Club of Australia (CYCA) in Sydney, which administers the yacht race, said Friday that one sailor each on entrants Flying Fish Arctos and Bowline were killed after being struck by the boom, a large horizontal pole at the bottom of the sail.
New South Wales Police Superintendent Joe McNulty identified the two dead sailors as a 55-year-old man from Western Australia (on Flying Fish Arctos) and a 65-year-old man from South Australia (on Bowline).
He said the crews on both boats, which had been seized by police for evidence, were “doing it pretty tough at the moment.”
“We’ve got police talking to them, doctors and counselling. They’re assisting with our inquiries. They are shaken up by what they’ve seen…and they didn’t give up.”
The first all-Filipino crew of 15 sailors was entered in the 2024 race, but
was among the 19 retirements because of the weather.
With veteran sailor Ernesto Echauz at the helm, Centennial 7 was one of six international entrants and includes sailors from the Philippines’ national team and the Philippines navy.
Officials later said a sailor was washed overboard on another boat, but was rescued. That crew member was from Hobart yacht Porco Rosso, and he drifted a kilometer from the yacht before being rescued.
The incident triggered the crew member’s emergency position-indicating radio beacon, a safety device that must be worn by all sailors in the race.
“That is one of the most terrifying experiences that you can have,” said David Jacobs, vice-commodore of the CYCA. “[And] it was at night, which makes it tenfold more scary.”
The deaths come 26 years after six sailors were killed in storms during the 1998 running of the race, which triggered a state coronial inquest and mass reforms to the safety protocols— including the radio beacon on all sailors—that govern the race.
There have been 13 fatalities in the 79year history of the race, with four of those
deaths resulting from sailor heart attacks.
The fleet was continuing its passage to Constitution Dock in Hobart, Tasmania, with the first boats expected to arrive early Saturday morning. The race is 628 nautical miles (722 miles, 1,160 kilometers) long.
Jacobs reiterated the race would “absolutely” continue.
“The conditions are challenging, but they’re not excessive,” he said. “So we’ve got sort of winds at about 25 knots coming from the north seas around about two meters or thereabouts, so the conditions that most of the sailors would normally easily handle.”
“The sailing community is a very close community. There’s about a thousand sailors on the water in this race, and to lose two in this fashion is just devastating.”
Just over 24 hours into the race, 85 entrants were still sailing and 19 yachts had retired at sea or in port.
Australian Prime Minister Anthony Albanese paid tribute to the sailors who died.
“We have sadly awoken to tragedy in the Sydney to Hobart with the awful news two sailors have lost their lives,” he said. “Our thoughts are with the
Heading treks right path as FiberXers flourish
JORDAN HEADING has played a pivotal role in the Converge’s emergence as a potential dark horse.
Heading’s efficient role as both a scorer and playmaker has translated into four straight victories and a 6-2 won-lost record for the FiberXers in the Philippine Basketball Association (PBA) Commissioner’s Cup, with nowhere to go but up.
“Our record is really what I all care about,” said Heading as he was chosen as the PBA Press Corps-Pilipinas Live Player of the Week for the period December 17 to 25.
Heading capped off the stretch with 30 points, eight rebounds and six assists on Christmas Day when Converge frustrated perennial contender Meralco, 110-94, at the Smart Araneta Coliseum. The rout of the Bolts extended the FiberXers’ streak that started by defeating the NLEX Road Warriors, Phoenix Fuel Masters and another heavyweight in Barangay Ginebra San Miguel.
The lefty guard averaged 19.5 points on 51-percent shooting on top of 4.3 rebounds, 7.8 assists and 1.5 steals to be adjudged as the latest winner of the weekly honor, the last for the calendar year.
crews, their families and loved ones at this deeply sad time.”
The incident aboard Flying Fish Arctos occurred around 30 nautical miles east-southeast of Ulladulla on the New South Wales south coast. Crew members attempted CPR but could not revive their teammate.
The crew member aboard Bowline was struck approximately 30 nautical miles east/north-east of Batemans Bay and fell unconscious, with CPR also unsuccessful.
“As these incidents are being dealt with by the Water Police and all family members are yet to be contacted, we cannot provide further details at this stage,” the CYCA said in a statement.
“Our thoughts are with the crews, family and friends of the deceased.”
Flying Fish Arctos, a New South Wales-based 50-footer, has contested 17 previous Hobarts since being built in 2001. The boat was designed for round-the-world sailing and is currently used by Flying Fish, a sailing school that operates in Mosman, a suburb on Sydney’s north shore. AP
LEBRON JAMES and the National Basketball Association (NBA) are going to have make room for the National Football League (NFL) on Christmas. That shouldn’t be a problem. Both leagues were winners on Wednesday.
Netflix set records as the moststreamed NFL games in US history while the NBA had its best holiday numbers in five years according to Nielsen.
The NFL and Nielsen said 65 million US viewers tuned in for at least one minute of one of the two NFL games.
The Baltimore Ravens’ 31-2 victory over the Houston Texans averaged 24.3 million while Kansas City’s 29-10 win at Pittsburgh averaged 24.1 according to early viewer figures released by Nielsen on Thursday.
The NBA’s five-game slate averaged about 5.25 million viewers per game across ABC, ESPN and its platforms, according to the league and Nielsen.
“I love the NFL,” James jokingly said in his televised postgame interview Wednesday night. “But
FOR Yuka Saso, golf is about much more than winning trophies, major championships and accolades—it’s about maintaining physical and mental health, overcoming challenges and inspiring the next generation of athletes.
Reflecting on her 2024 season, the 23-year-old phenom emphasized that her primary achievement wasn’t just her dominant victory at the US Women’s Open but the ability to complete the season injury-free.
“It was a good year. I was able to finish my season without any major injuries, and that’s the biggest goal in my career,” said Saso, who made 15 cuts in 22 tournaments.
Her stellar performance at the US Women’s Open last June solidified her as the youngest two-time champion in the history of the sport’s most prestigious major—she nailed her first major in 2021.
However, the journey was far from smooth as Saso faced struggles, missing seven cuts, including one at the ShopRite Classic immediately after her second major victory.
But for her, these setbacks are essential stepping stones toward greatness.
“There are no easy days on the [Ladies Professional Golf Association] Tour, and that’s the beauty of it. You’re always looking for ways to
improve and challenges to overcome,” she said. “It’s a daily struggle.” Despite her busy schedule, Saso remains deeply committed to inspiring young Filipino golfers. During a holiday break, she led a golf clinic organized by the International Container Terminal Services Inc. (ICTSI) and Pilipinas Golf Tournaments Inc. at Golf Avenue at the Aseana City in Parañaque City.
Addressing Junior Philippine Golf Tour players, she shared invaluable advice: work hard, stay patient and trust the process.
“When I was their age, I wasn’t that good,” said Saso in jest. “But with the technology and resources available today, young golfers have a tremendous opportunity to improve.”
She applauded ICTSI’s unwavering support for junior golf, including its establishment of a dedicated junior circuit. “Getting experience is key,” she said. “When I was growing up, I played a lot of tournaments, and I’m glad ICTSI is giving kids the same opportunities.” Saso expressed her desire to contribute more to grassroots programs, saying: “I hope to return more often to help young golfers.” She also encouraged aspiring athletes to enjoy the journey. “Golf is about more than competition. Make friends, enjoy the game and embrace the process,” she advised. As for her own career, the Filipino-Japanese golfer is setting her sights on continued success in the LPGA. While another major championship remains a goal, her top priority is staying fit and healthy.
“Staying injury-free is the most important thing,” she said. “I want to start and finish the season at 100 percent, especially for major tournaments.” With her unwavering determination, love for the game, and commitment to giving back, Saso remains a beacon of inspiration for athletes worldwide. As 2025 approaches, the golf world eagerly anticipates more milestones from this extraordinary young talent.
National tennis championships on
HE Palawan Pawnshop National Tennis Championships kicked off Thursday at the Valle Verde Country Club courts in Pasig City with the five-day tournament drawing more than 200 participants.
The Group 2 tournament presented by Dunlop features nine age categories and celebrates the 10th anniversary of Mac’s Crankit Foundation. Coach Pat Concon-Puzon will also lead a free community coaching conference and tennis clinic with strength and conditioning coach Geoff Asilo.
Christmas is our day.”
However, Wednesday’s ratings showed that there is room for both.
Even though the NBA had the sports calendar to itself on December 25 for many years, the NFL has made Christmas one of its tentpole events during the regular season, joining Kickoff Weekend and Thanksgiving.
Hans Schroeder, the executive vice president of NFL Media, took James’s comments in jest while also being joyful about the first season of the league’s three-year partnership with Netflix.
“The numbers speak for themselves and LeBron can have his own view, and I’m sure more people will look at that because of this,” he said. “But, you know, we’re focused on the NFL and we’re thrilled with the results this year with the Christmas on Netflix and we’re excited to continue to build that over the next couple of years.”
Both NFL games surpassed the previous mark of 23 million for last season’s American Football Conference (NFC) wild-card game between the
Siblings Frank and France Dilao headline the competitive boys’ 18-and-under field, which includes Kendrick Bona, Albert Manigque, Ethan Cablitas, Zachary Morales, Karl Almiron and David Torrecampo. Jana Diaz and Sanschena Francisco are the favorites to contend for the premier class championship in the girls’ contest.
Miami Dolphins and Chiefs on Peacock.
Viewership for Ravens-Texans peaked with the Beyoncé Bowl. The nearly 13-minute halftime performance averaged over 27 million viewers.
The viewer figures include the audience on Netflix, mobile viewership on NFL+ and those who tuned in on CBS stations in Pittsburgh, Kansas City, Baltimore and Houston.
Global ratings and final US numbers are expected to be available on Tuesday.
The NFL’s Christmas numbers decreased from last season, but not at the rate that usually happens when programming goes from broadcast to streaming.
Last year’s three games averaged 28.68 million viewers. The early afternoon contest between the Las Vegas Raiders and Chiefs led the way, averaging
The 16-and-under set also promises exciting matchups among Gavin Kraut, France Dilao, Bjorn Castigador, Frank Dilao, Yñigo Naredo and Morales in the boys’ field. The girls’ competition features a four-way battle among Erynne Ong, Maristella Torrecampo, Chiara Bate and Astrid Cablitas. In the boys’ 14-and-under category, top seed Castigador faces stiff competition from Pete Niere, Rafa Monte de Ramos, Jairo Flores, Gil Niere and Francisco de Juan III.
YUKA SASO examines a young golfer’s grip during the clinic.
JORDAN HEADING gets the Player of the Week award.
Dissident abductions in Kenya is bid to mute critics–group
KENYAN human rights activists said at least seven critics of the government have been snatched in the last 10 days, in an ongoing campaign of abductions they claimed was designed to stifle dissent.
The Kenya National Commission on Human Rights said in a statement on X that 82 people had been taken since June–when deadly protests erupted against the administration of President William Ruto–and that 29 were still missing.
“Those abducted have been vocal dissidents, particularly on social platforms,” KNCHR said. “If these patterns of abductions continue, then we shall be rapidly retrogressing back to the dark days of our history when such attacks were primarily to inflict fear on any person critical of the government.”
Police officers patrol the streets during a demonstration in the
Central Business District in Nairobi, Kenya, on Thursday, June 27, 2024.
Inspector General Douglas Kanja said the National Police Service was not involved. “There is no police station in the country that is holding the reported abductees,” he said in a statement on Thursday.
At least 60 people died in clashes with security forces during the protests, which were sparked by anger over tax increases as well as alleged corruption by government officials, and discontent continues to swirl actively on social media.
One of the victims, a 24-yearold man, was grabbed by four armed men in a barber shop on Saturday. At least one of the incidents has been caught on close circuit television.
The country’s courts issued a separate statement on X urging the security forces to respect the law and safeguard human rights. Bloomberg News
Rice prices surge to record in Nigeria as Pres. Tinubu’s food policies falter
THE price for a key ingredient to make Nigeria’s favorite jollof rice dish more than doubled to a record this year, showing the government’s struggle in controlling the costof-living crisis facing Africa’s most populous nation.
Prices in Lagos for a 50 kilogram (110.2 pounds) bag of rice, the main ingredient for making jollof, jumped 8 percent in December to 75,000 naira ($48.5) from the previous month, according to a market survey by consultancy SBM Intelligence, which publishes the jollof index. Other ingredients including vegetable oil, onions and chicken also rose in the survey done on Wednesday. In Abuja, the nation’s capital, rice was selling at 99,000 naira for a 50 kilogram bag.
In a nation where the minimum wage is 70,000 naira a month, rising food prices means two out of three Nigerian households are going hungry, according to the nation’s statistics agency.
That’s led to riots and stampedes as President Bola Tinubu’s administration struggles to curb inflation. The government’s attempts to control prices by declaring a state of emergency to improve food security, and then suspending import duties, have not worked.
“Cost of feeding has been on a steady increase and Nigerians are not finding it easy,” said Stanley Ikechukwu, head of operations at SBM Intelligence. People are “just living everyday as it comes and hoping that the so-called government policies take a positive turn or there will be trouble in 2025,” he said.
In August, protesters marched through the streets in several Nigerian states chanting “we are hungry.” As many as 21 people were killed in the unrest that month, while last week about 48 people including 35 children died in stampedes in three different locations as charities handed out food, the police said in a post on X on December 21.
“We earnestly pray that such misfortunes do not revisit our families and communities and that the lives of innocents are never again cut short,” Tinubu said in his Christmas message on Tuesday, while referring to the stampedes.
Nigeria’s annual inflation rate reached a 28-year high of 34.6 percent in November, with food inflation accelerating at 39.9 percent, according to the nation’s statistics agency. Prices have sustained their upward pressure despite the central bank raising the key interest rate by 875 basis points this year to a record 27.5 percent in November.
Tinubu has removed the currency’s peg to the dollar and ended fuel subsidies since taking office in 2023. His moves have been lauded by investors but pushed up prices. The president at a briefing on Dec. 23 said that he has no plans to impose price controls. Instead, he said the government has ordered 2,000 tractors and plans other incentives to boost food output.
“Everything is very expensive, take onions for example: people cannot afford to buy onions especially in the quantity they want because of the high price,” Ikechukwu said. Bloomberg News
European gas jumps as Putin doubts new deal can be made
EUROPEAN natural gas advanced after Russian President Vladimir Putin cast further doubt on the likelihood of a deal to maintain flows to Europe via Ukraine.
Benchmark futures jumped as much as 5 percent Friday, the most in a week. Putin said Thursday it would be impossible to arrange a new transit contract before year’s end, when the current agreement expires.
Central European nations that still buy Russian gas have floated alternative solutions to keep the fuel flowing across Ukraine, but President Volodymyr Zelenskiy has rejected any arrangement that sends money to Russian coffers
So. Korea impeaches 2 leaders in two weeks as crisis deepens
By Sam Kim & Heejin Kim Bloomberg News
SOUTH Korea’s parliament impeached Acting President Han Duck-soo, dealing another blow to a government already reeling after President Yoon Suk Yeol’s suspension less than two weeks ago for his brief martial law decree.
Lawmakers voted 192-0 in favor of Prime Minister Han’s impeachment on Friday, according to National Assembly Speaker Woo Won-shik. He said before the vote that a simple majority in the 300-seat parliament was needed for the motion to pass, instead of the two-thirds required to suspend a president.
Dozens of ruling party members protested by chanting slogans calling for Woo’s resignation and boycotting the vote. Han said in a statement that he would respect the National Assembly’s decision and suspend his duties.
Lawmakers from the ruling People Power Party gather to protest
in front of Woo Won-shik, speaker of the National Assembly, top left, during the impeachment vote on Acting President Han Duck-soo on December 27.
This is the first time an acting president has been impeached in South Korea. Han took over the role after Yoon was impeached by parliament following his December 3 decision to impose martial law, a move that was reversed six hours later. Finance Minister Choi Sang-mok is next in line to serve as interim leader.
It would be nearly impossible for Choi to effectively manage all the roles including finance minister, acting president and acting prime
minister simultaneously, according to Shin Yul, a political science professor at Myongji University in Seoul. “This is not a normal situation in a country,” he said.
The South Korean won declined 0.6 percent against US dollar after the vote. The currency earlier fell as much as 1.1 percent to the lowest since 2009 on Friday.
The main opposition Democratic Party, which holds 170 seats, filed the impeachment motion on Thursday after Han resisted pressure to immediately appoint three judges to the Constitutional Court, which would boost the likelihood of a ruling to finalize Yoon’s removal from power. Han said in an emergency public address Thursday that he would hold off on approving the three judges nominated by parliament. He added that the right to approve the judges rests with the president of the nation.
Court process THE court, which can still rule with six judges, held its first pretrial hearing Friday and has until June to make a decision. Yoon has vowed to fight in court, saying he declared marital law to protect the nation from an opposition that’s trying to paralyze the government
with impeachment motions and cuts to budget plans. The case against the president is more important and urgent than any other impeachment motion involving government officials, Constitutional Court judge Cheong Hyungsik said at the hearing on Friday, according to a pool report. The court has scheduled the next preliminary hearing for January 3. The political turmoil adds to the risks facing South Korea’s economy, which is expected to grow at a slower pace next year. Export momentum is weakening due to lower semiconductor demand, and companies are bracing for Donald Trump’s return to the White House and his protectionist policies. Recent surveys show confidence among South Korean consumers and businesses has slumped by the most since the global Covid-19 pandemic. Policymakers have pledged “unlimited liquidity” if needed to reassure market participants and mitigate the economic fallout. Shin said the political uncertainty could spark an outflow of foreign capital. This would worsen the balance sheets of companies due to their large amounts of dollar-denominated debt, he added.
Nissan record deal sets up fight for bankers in Japan M&A boom
By Manuel Baigorri Bloomberg News
JAPAN’S record dealmaking activity this year isn’t giving foreign firms much holiday cheer: For now, the field remains mostly dominated by the local megabanks and law firms with deep ties to the corporate world.
At roughly $200 billion, the volume of transactions including mergers and acquisitions in the country is up 48 percent this year, data compiled by Bloomberg show. That compares with a 17-percent increase across Asia Pacific and a 19-percent slump for China, which remains the biggest market in the region with $271 billion in volume.
The sheer amount of activity is reshaping the battleground for investment bankers seeking to earn the often lucrative fees that come with these transactions. Just as the year winds down, one deal has left bankers scrambling to take part in: Honda Motor Co.’s acquisition talks with Nissan Motor Co.
The tie up could form the world’s thirdlargest carmaker. But even though big international investment banks win advisory roles on some deals, Japanese firms historically have a big hometown advantage, according to data compiled by Bloomberg.
“While some foreign banks have been relatively successful in Japan and they continuously pitch and work on many deals, the reality is the Japanese megabanks have much more access to companies due to their lending and underwriting relationship,” said Akio Katsuragi, co-founder and CEO of investment banking boutique Crosspoint Advisors.
while the war continues. Putin acknowledged that the various proposals on the table—allowing Hungary, Slovakia, Turkey or Azerbaijan to take control of the gas shipped via Ukraine—are difficult to realize because Gazprom PJSC has long-term contracts that are hard to change. The flows at risk account for about 5 percent of European demand.
While that’s a small slice of the market, the loss of those volumes would force countries to rely more heavily on piped gas from Norway or liquefied supplies from the US.
Traders in Europe are closely monitoring the region’s gas storage, with levels now below 75 percent. Bloomberg News
In the Honda-Nissan deal, Nomura Holdings Inc. is advising Honda, while Nissan has retained Mizuho Financial Group Inc. and Bank of America Corp. Nomura is the top adviser for deals in Japan, followed by Morgan Stanley, which gets a boost from its strategic alliance with Mitsubishi UFJ Financial Group Inc. Goldman Sachs Group Inc., Daiwa Securities Group Inc., Sumitomo Mitsui Financial Group Inc. and Mizuho round out the rest, according to the data.
Among law firms, the top five are all Japanese, led by Nagashima Ohno & Tsunematsu, Mori Hamada & Matsumoto and Nishimura & Asahi.
Partly, this reflects the industries prominent in some recent deals in strategically important sectors such as technology, which makes it even harder for foreign buyers, where global investment banks may have an edge over their local rivals. One such example is Japan Industrial Partners’ $15 billion takeover of conglomerate Toshiba Corp., in which Katsuragi’s firm was a lead adviser. Other banks that worked on the deal included Sumitomo Mitsui, Mizuho, Nomura, as well as overseas banks such as JPMorgan Chase & Co. and UBS Group AG.
Japanese preference
THE planned union of Honda and Nissan is one of those evergreen deals that has been talked about for years, according to Katsuragi, who was previously CEO of Lehman Brothers Holdings Inc.’s Japan office. The time is right for the deal to happen, he added, otherwise they might struggle to survive in a very competitive global market.
The two companies earlier this week reached a tentative agreement to set up a joint holding company that will aim to list shares in August 2026. While their executives have been careful to paint the transaction as a merger of equals, Honda will take the lead in forming the new entity and nominate a majority of its directors.
“There is still a preference to find a Japanese solution when it comes to big deals, especially if there is a possibility of combining two national champions or finding local investors as a way to preserve some of the national-trophy assets,” said Takeshi Nakao, managing partner at law firm Freshfields Bruckhaus Deringer LLP in Tokyo. Other deals receiving foreign interest but facing local resistance in Japan include Quebec-based Alimentation Couche-Tard Inc.’s pursuit of the owner of 7-Eleven convenience stores. Banks working on the potential cross-border deal include Goldman Sachs, Morgan Stanley and Nomura.
After the operator of Circle K stores made its intentions known, Seven & i Holdings Co. considered a management buyout to take itself private with funding from banks, Itochu Corp. and the founding Ito family in a transaction that could be worth around $58 billion, Bloomberg News reported. Banks that may provide financing for what could be the largest-ever such deal in Japan include Sumitomo Mitsui, MUFG and Mizuho.
“If Seven & is possible, then anything could get done, other than certain assets in strategic and sensitive industries,” said Nakao of Freshfields.
Busy times
NIPPON Life Insurance Co. has done more
than $12 billion in deals this month alone, and Japan’s biggest insurer isn’t finished yet. There’s also Bain Capital’s ongoing plans to buy shares of software developer Fuji Soft Inc. without the support of the Japanese company’s board, setting the stage for a rare hostile bid in its battle with KKR & Co. for the Yokohama-based firm.
“This is the busiest ever we have seen in Japan dealmaking,” Nakao said. “Deals in Japan are going to get even bigger, both inbound and outbound.”
The deal bonanza has also been buoyed by a strong stock market, with the benchmark Nikkei 225 index reaching an all-time high in July. It has gained more than 20 percent this year.
Outside of Japan, India was the other hot spot for deals this year, with a record $20 billion raised in initial public offerings and $97 billion in other transactions including M&A. Activist investors INVESTMENT
tor of one of the world’s biggest subway systems, raised more than $2 billion in October, making it the biggest Japanese listing since mobile carrier SoftBank Corp. went public in 2018. Nomura, Mizuho and Goldman Sachs were the joint global coordinators for the Tokyo Metro offering.
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