BusinessMirror April 10, 2024

THE national government’s budget deficit is projected to narrow to 5.5 percent of gross domestic product (GDP) this year as a reflection of the current administration’s push for fiscal consolidation, according to BMI Country Risk & Industry Research.

In a commentary published on April 8, BMI said the deficit is seen to decrease to 5.5 percent of GDP in 2024 from 6.2 percent in 2023.

“This narrowing would mark the third consecutive year the budget shortfall shrinks, a reflection of the current administration’s push for fiscal consolidation,” it said.  The BMI forecasts the economy to expand by 6.2 percent this year while the government holds a more “upbeat” view on the economy, at 6.5 to 8 percent.

The Cabinet-level Development Budget and Coordination Committee (DBCC) projected the state’s budget deficit to settle at 5.6 percent of GDP this year, and to 3.7 percent by 2028.

Uit comes to key policy rates.

TRADE disruption brought by the attacks in the Red Sea still carry the “bigger impact” for US firms operating in the Philippines, as the rerouting of ships would add 20 percent to the shipping fees for goods entering the country, according to American Chamber of Commerce of the Philippines (AmCham).  AmCham Executive Director Ebb Hinchliffe said this after he noted that the collapse of Baltimore’s Francis Scott Key Bridge in the US doesn’t have any foreseeable impact for US firms operating in the Philippines. “There’s not much traffic from the East coast going through that corridor to here.

See “Trade,” A

In an interview on the sidelines of the four-day Asia and the Pacific Food Security Forum on Tuesday, Monetary Board Member V. Bruce J. Tolentino told reporters nobody can say when India’s export ban will be lifted and there is also no telling how the dry spell will impact countries, including the Philippines.

then immediately, global supplies and prices will fall. So that’s one source of uncertainty. The second source is there is no guarantee that all countries, and even the Philippines, will not be hurt by El Niño,” Tolentino said. “That’s why we’re keeping our powder dry.”

“India is the world’s largest exporter of rice. If they lift the ban,

However, Tolentino said, something positive that should help address rice prices is the sustained

increase in rice production. The rice sector has been consistent in posting record harvest data per semester.

He added that the forecast for the coming semester is optimistic. This, Tolentino said, is owed to the P10 billion worth Rice Competitiveness Enhancement Fund (RCEF). See

Tan-Cavite Interlink Bridge Project. Bataan 2nd district Representative Albert S. Garcia made the announcement before President Ferdinand R. Marcos Jr. during the turnover ceremony of housing units to 216 informal settler families (ISF) in Balanga City,

Garcia said in Filipino.  The lawmaker thanked the President, who also heads the Neda board, in the approval of the funding of the major infrastructure project, which will connect Bataan and Cavite. In October, Neda approved the new engineering design of

By Reine Juvierre Alberto

BuCor: 46 Muslim convicts freed since Ramadan began

By Joel R. San Juan @jrsanjuan1573

THE Bureau of Corrections (BuCor) announced on Tuesday a total of 46 Muslim convicts have been released since the start of Ramadan last March 10 as part of the government’s program to decongest the country’s prison facilities.

Based on BuCor’s data, there are about 3,014 Muslim persons deprived of liberty (PDLs) in various operating prisons and penal farms (OPPFs) as of February 29, 2024, which is 5.69 percent out of 52,950 total number of PDLs under the agency’s watch.

The data was shared by Catapang with Presidential Adviser on Muslim Affairs, Almarin Centi Tilla during the latter’s visit on Thursday to check on the condition of Muslim PDLs in OPPFs.

Out the said 3,014 Muslim PDLs 1,121 are confined at the New Bilibid Prison, 752-Davao Prison and Penal Farm, 698-San Ramon Prison and Penal Farm, 202—Correctional Institution for

Women, 144—Iwahig Prison and Penal Farm, 81—Sablayan Prison and Penal Farm and 16—Leyte Regional Prison.

“Like any other PDLs, Muslims are allowed to practice their faith even inside the correction facilities. Our Muslim brothers are not left behind,” Catapang said.

Aside from the 46 Muslim PDLs released since the start of Ramadan, another 23 have been recommended by the Board of Pardons and Parole for Executive Clemency as of April 3.

The BuCor said the 46 Muslim PDLs were released either due to expiration of sentence, acquittal, put on probation and granted parole.

Budget. .

Continued from A

In terms of revenue collection, the BMI sees this amounting to around 16.3 percent of GDP by the end of 2028.

The national government targets to raise a record-high P4.3 trillion in revenues this year. Finance Secretary Ralph G. Recto said earlier that the Department of Finance (DOF) will not push for new taxes this year as it will rely on the Bureaus of Internal Revenue and Customs’ tax collection to generate funds.

This year, the BIR is tasked to collect about P3.05 trillion in revenues while the BOC aims for P1 trillion in earnings.

As the P3.8-trillion revenue collected in 2023 surpassed the government’s expectations, the BMI said, “We think that this trend will continue over the coming years as policies targeted to broaden the tax base feed through.”

particular, the resilience in private consumption will boost revenue collection.”

The BMI further forecasted disbursements to make up 21.5 percent of GDP, slightly lower than the 22 percent recorded last year.

Expenditures, as a percentage of GDP, are also seen to average 20.2 percent until the end of the Marcos administration in 2028.

For the first two months, the state’s expenditures at P722.5 billion outpaced total revenues, which resulted in a budget deficit of P76.7 billion.

“Enhancing the infrastructure framework is crucial for the current administration’s ambitious goal of positioning the Philippines as a leading destination for foreign investment,” the BMI suggested.

Lastly, the BMI looks into debt levels declining from pandemic highs, making up 59.7 percent of GDP this year from 61.1 percent in 2023.

Continued from A

Tolentino said with the “strong relationship” between Agriculture Secretary Francisco Tiu Laurel Jr. and the International Rice Research Institute (IRRI), he expects the performance of the rice sector to continue.

He added that the IRRI is also “responsive to the requirements” of the Philippine Rice Research Institute (PhilRice) and the Department of Agriculture in terms of new technologies and rice varieties.

because of our increased nutrition requirements. Not to mention rice required for manufacturing, not only food, [but] manufacturing,” Tolentino said.

“So it’s not only for the next semester or the next season, it should be sustained over time. Not only once, but continuous. That’s the only way that we will be able to keep the growth going and be able to beat, number one, the demand for the greater demand due to population growth, and the greater demand

Meanwhile, local analysts also expressed concern for rice, noting the 24.4 percent increase in rice prices in March 2024. This, according to Sumitomo Mitsui Banking Corporation (SMBC) “currently attracts market attention.”

Given this, ANZ Research said, it had reason to believe that the Bangko Sentral ng Pilipinas (BSP) will remain on a “wait and watch mode” before deciding on making any rate cuts.

ANZ Research, meanwhile, said high rice prices, in particular is considered as “a constant threat as they can impact households’ inflation expectations.”

It added that with oil prices also increasing and the trade deficit expected to worsen due to more expensive fuel, the BSP may not be encouraged to cut rates any time soon.

“We expect a rate cut to materialize only in the fourth quarter of 2024. Our year-end 2024 policy rate forecast of 6 percent assumes 50-basis-point rate cuts in the last quarter of 2024,” ANZ Research said.

Meanwhile, HSBC Asean economist Aris Dacanay said the BSP’s decision does not give them reason to believe that the Monetary Board will raise rates further, only that it will likely keep rates high longer.

With base effects expected to wear off by August 2024, Dacanay said  inflation should return to within the BSP’s target band.

Their base case scenario is for the BSP to cut rates by 25 bp to 6.25 percent in the third quarter of 2024, and then by 50 bp to 5.75 percent in the fourth quarter of 2024.

“Risks to the policy rate outlook are tilted to the upside both due to inflation and the Fed. Apart from elevated rice prices, global oil prices have returned to $90 a barrel. This comes at the worst time when unfavorable base effects are at their most potent,” Dacanay said.

On Monday, the BSP could delay any rate cuts to the first quarter of 2025, pending improvements in the country’s economic performance, including cooler inflation.

The Monetary Board decided to retain the BSP’s Target Reverse Repurchase (RRP) Rate at 6.5 percent. With this, interest rates on the overnight deposit and lending facilities also remain at 6 percent and 7 percent, respectively.

BSP Governor and Monetary Board Chairman Eli M. Remolona Jr. said they are more hawkish than before given the 3.7-percent inflation print in March 2024. This prompted the MB to raise its risk-adjusted inflation forecast to 4 percent this year from the initial 3.9 percent in January 2024.

The BMI also predicted the real GDP to accelerate to 6.2 percent, within the DBCC’s growth target of 6.0 to 7.0 percent.

The DBCC has cut its GDP growth target this year from its previous 6.5 to 7.5 percent outlook.

“2024 looks set to be a better year,” it said, adding, “In

Continued from A

the Bataan-Cavite Interlink Bridge Project, which increased its cost from P175.6 billion to P219.3 billion.

Once completed, the bridge will help address the heavy traffic congestion in Metro Manila and also spur economic development in Bataan, Garcia said.

“And aside from becoming the solution to traffic in Metro Manila, with the connecting of the bridge, Bataan Peninsula will no longer be a deadend. Many investors—those invited by the President in his foreign trip to invest in the country—will invest in our

Continued from A

Shouldn’t really have any impact,” Hinchliffe told reporters on Monday.

According to a Bloomberg report, the major commuter bridge in Baltimore “collapsed after being struck by a container ship, causing vehicles to plunge into the water and halting shipping traffic at one of the most important ports on the US East Coast.”

“The bigger impact is what’s going on in the Middle East, that’s where the ships are going around, going through the Red Sea, going round the Cape taking an extra two to three weeks to get here,” Hinchliffe pointed out.

This is forcing all the ships from Europe to “take the long way round,” he explained.

On the specific impact of the rerouting of ships due to the disruption, he said, “Let’s say 20 percent more.”

In January 2024, the United Nations Conference on Trade and Development (Unctad) had raised the alarm on global trade disruptions with estimates that the trade volume going through the Suez Canal—a “critical waterway” connecting the Mediterranean Sea to the Red Sea—decreased by 42 percent over the last two

“However, we believe the deficit will likely miss the aforementioned goal by a narrow margin given the tightrope between growth and maintaining fiscal stability,” it said.

The debt ratio by 2028 is projected by BMI to be 52 percent of GDP, which is within the 70 percent threshold recommended by the International Monetary Fund (IMF).

province, especially since we have the previous Bataan Economic Zone, which is the brainchild and vision of President Marcos Sr.,” Garcia said, noting that what is now the Bataan Freeport Zone is a hub “which we continue [to operate] with the support of the President.”

The additional investments, he stressed, will also generate news jobs for residents of Bataan.

Garcia said the province is now coordinating with the Department of Human Settlements and Urban Development (DHSUD) for the construction of more Pambansang Pabahay para sa Pilipino (4PH) housing units for workers, who will be migrating to Bataan for employment.

months. (See: https://businessmirror.com.ph/2024/01/29/ global-trade-disruptionsprompt-alarm-from-unctad/)  Association of International Shipping Lines Inc. (AISL) President Patrick Ronas earlier told this paper that attacks on commercial vessels in the Red Sea would put pressure on freight cost, especially for cargo from Europe and Africa.

“Those who import from Europe and Africa will be affected. It will now take longer as the journey will now be longer. In terms of transit times, it is expected to add 2 to 3 weeks as vessels will be going around the Cape of Good Hope. It will be a roundabout route. Delays are inevitable at this stage,” Ronas told this paper in January.

Ronas had also recommended that Philippine exporters check their carriers or shipping lines on the expected arrival of their goods to “manage expectations.”

According to Oxford Economics, “while a nine-day delay to a single shipment doesn’t sound overly dramatic, the cumulative impact is considerable,” as it has been “widely reported” that the extra shipping times caused by an effective closure of the Red Sea could reduce global shipping capacity by 20 percent.

The Philippine Economic Zone Authority (Peza) had said earlier that the closure and shutdown of the Red Sea to trade will make shipping costs expensive and add 10 days for the exchange of goods between Europe and Asia.

Govt set to review separation benefits for disabled soldiers

By Samuel P. Medenilla @sam_medenilla Jovee Marie N. Dela Cruz @joveemarie, & Rex Anthony Naval

PRESIDENT Ferdinand R. Marcos Jr. on Tuesday ordered the review of the separation benefits of soldiers who suffered permanent disability and the “responsiveness” of the supply and equipment of the Armed Forces of the Philippines (AFP).

to uphold the same resi lience and resolve.

“Today, as we pay homage to their courage, we must also heed the invaluable lessons they impar t. Defending Phi lippine sovereignty and territor y is not merely a historical obligation; it is an ongoing responsibi lity that demands our unwavering commitment and v ig i lance,” he said.

As the world faces geopolitical complexities and territorial disputes, Romualdez said, “It is crucial that we stand fir m in protecting our nation’s borders and asser ting our leg itimate claims in accordance w ith inter national law.”

and growing challenges,” including the g row ing agg ression of China in the West Phi lippine Sea (W PS). Ma rcos h ad sa id t he cou nt r y w i ll not y ield to t he attempts by t he C hi na Coast Gu a rd and t he C hi nese Ma rit i me M i l it i a ship to i nt i m idate Phi l ippi ne vessels oper at i ng i n t he W PS. “Ours is a complicated world today, but we must not y ield. We must not back down from any and all challenges that seek to threaten our peace, our honor, our ver y ex istence,” he said.

‘Fight poverty’

SPEAKER Ferdinand Mar tin G. Romualdez on Tuesday rallied Fi lipinos to unite in safeg uarding the nation against threats and in combating pover ty.

In his address on A raw ng Kag itingan, Romualdez emphasized the need for collective action, reflecting on the valor of past generations who defended freedom amid adversity.

“T he occasion is an oppor tunity for all Fi lipinos to reflect on the courage and braver y of our forebears who defended our freedom during the darkest chapters of our histor y,” he said.

He underscored said the sacrifices of the countr y’s heroes ser ve as a beacon of the Fi lipino spirit, urg ing current generations

“We must aff ir m our sovereignty over our land, seas, and airspace, resolutely rejecting any encroachment or infringement upon our territorial integ rity,” he said.

Beyond territorial defense, Romualdez emphasized the ongoing battle against pover ty and inequality.

He likened the struggle to break the chains of pover ty to the historical f ight for physical borders, urg ing concer ted effor ts to uplift the marg inalized and prov ide pathways to a better life.

“Our commitment to freedom extends beyond territorial boundaries; it encompasses the liberation of our people from the shackles of pover ty, hunger, and deprivation. We must stand united in the f ight against pover ty, extending a helping hand to the less fortunate and empowering them to bui ld better lives for themselves and their fami lies,” he said.

Rom u aldez sa i d F i l i p i nos s h o u ld “ u n i te as a nat i on, f ir m i n o ur comm i tment to c r eat i ng a f u t ur e w h e r e eve r y F i l i p i no can l i ve w i t h d i gn i ty, oppo r t u n i ty, and h ope.”

“Toget her, let u s forge a f ut ure where t he sac ri f ices of our heroes a re honored not only t hrou g h t he defense of Phi l ippi ne sovere ignty but also t hrou g h our ded icat ion to upl i ft i ng t he l ives of t he less priv i leged,” he added.

Honoring Bataan defenders

THE AFP also paid homage to the defenders

of Bataan who battled heroically against the Japanese forces during World War II.

“As we commemorate A raw ng Kag itingan, we honor and pay tribute to the indomitable spirit and unwavering courage of our heroes who valiantly fought for the freedom and liber ties we enjoy today,” AFP Chief of Staff Gen. Romeo Brawner Jr said in a statement.

T his as the nation commemorates the 82nd Araw ng Kagitingan which also marks the fall of Bataan to Japanese forces in World War II.

“We remember w ith profound gratitude the sacrif ices made by our brave soldiers who gallantly defended our nation’s honor in the face of adversity in past wars and ar med conflicts,” Brawner said.

He also said the selflessness and commitment of these Fi lipino patriots to duty ser ve as an enduring inspiration to all Fi lipinos, reminding us of the true meaning of valor and patriotism.

“As we commemorate this historic day, let us not only reflect on the sacrif ices of the past but also reaffirm our commitment to upholding the principles of democracy, peace, and freedom for which our forefathers fought so valiantly,” he added.

He also urged all Filipinos to honor their legacy by standing united in the face of challenges and work ing tirelessly towards a brighter f uture for the countr y.

“May the spirit of courage and heroism that def ines A raw ng Kag itingan continue to g uide and inspire us as we strive to bui ld a nation wor thy of the sacrif ices of our brave heroes,” the AFP chief said.. Meanwhi le, Depar tment of National Defense Secreta r y Gi lber to C. Teodoro Jr urged all Fi lipinos to take inspiration from the heroism of Fi lipino soldiers in World War II.

He also saluted Fi lipino war veterans who fought for the countr y’s freedom, independence and peace.

“Magsilbi nawang inspirasyon ang kanilang kagitingan sa pagkakaisa ng sambayanan at sa pagtugon sa mga hamon ng panahon, tungo sa mapayapa, matatag, at maunladnaBagongPilipinas

[May t he ir br aver y ser ved as an i nspir at ion for all Fi l ipi nos to face and overcome t he c h allenges of today so t h at t he Phi lippi nes can be made peacef u l, stable and prog ressive],” Teodoro sa id.

T he nat ion on Tuesday pa id tribute to the Fi lipino soldiers who died during World War II.

Fo r t hi s yea r , t h e t h eme of t h e commemo r at i on i s P agpapa r angal sa

Kag i t i ngan ng mga Bete r ano: Sal i gan ng Nagkaka i sang Pi l i p i no.”

ies w it h o ur all i es and pass i ng pend i ng b i lls i n Cong ress t h at a i m to t r anspor t our cou nt r y’s safety i nto t he d ig ital er a, w i ll help for t i fy our defenses aga i nst i nc reasi ng cyber t hreats and ot her i nt ru sions,” Yamsu an sa id. He sa id Hou se Bi ll (HB) 8199, a measure he co-aut hored, i s “pivotal” i n fac i l itat i ng t he effect ive i mplementat ion of t he NCSP by t he Depa r tment of Informat ion and Communicat ions Tec hnology (DICT), whic h was endorsed by President Ma rcos Jr t hrou g h EO 58 last week. T he NCSP outl i nes a whole-of-nat ion roadmap a i med at st rengt hen i ng t he sec urity and resi l ience of t he cou nt r y’s cyberspace, whi le HB 8199 presc ribes sec urity measures for c rit ical i nfor mat ion i nf r ast ruct ure (CII) i nst it ut ions to protect t he ir d ig ital assets f rom ri sks, t hreats, and attacks, Yamsu an sa id. Under t he bi ll, CII i nst it ut ions i nclude banks and ot her f i nanc i al i nst it ut ions; emergency ser v ices and response agenc ies; broadcast med i a ; and t he i ndu st ries of healt h , energy, telecommu n icat ions, t ranspor tat ion, and water to name a few. HB 8199 des i gnates t h e Nat i onal Compute r Eme rgency Response Team (NCERT) as t he gover nment’s cent r ali zed repor t i ng mec h an i sm for i nfor ma-

t ion sec urity i nc idents.

T he bi ll also re quires all gover nment agenc ies to assign at least one person

w it h s u ff i c i ent i nfo r mat i on sec urity

t ra ining and credent i als as a point person for ensuri ng compl i ance w it h NCERT’s repor t i ng re quirements and ad herence to presc ribed standa rds. T he personnel

a re also tasked w it h bui ld i ng t he i nformat ion sec urity capabi l ity of t he agency to whic h t hey a re assigned. “T hi s meas ur e complements t h e NCS P and i s a good ju mp-off po i nt i n accompl i s hi ng one of t he plan’s pri ma r y ob j ect i ves, w hi c h i s to ens ur e conve rgence among all gove r nment agenc i es i n p r otect i ng o ur co u nt r y

sa i d i n h i s res o lut io n “F i l ipi n o s must be nf or med o f u p -t o -date and necessa r y pr e p a r at io ns and r es po nses

wh o le- o f-g o ve r nment a ppro ach t o add r ess the effects o El N ñ o and the oo m i ng effects o f La N i ña El N i ñ o n o t o nly had det ri

Economy

US, China trade war prompts exporters’ ‘very fluid’ target

By Andrea San Juan @andreasanjuan

A“very fluid” performance is expected from the country’s exports this year on the back of the ongoing trade war between the United States and China, among others, according to the Philippine Exporters Confederation Inc. (Philexport).

“Very fluid ‘yung target namin. We’re just being realistic about it : masyado maraming ifs eh,” Philexport President Sergio R. Ortiz-Luis Jr. told reporters on the sidelines of PCCI’s General Membership Meeting last week.

Ortiz-Luis also noted that the $143.4-billion target set in the Philippine Export Development Plan (PEDP) 2023-2028 is impossible to be achieved this year ; possibly in two-years’ time.

The Philexport chief emphasized that coming from the $103.6 billion total exports recorded in 2023, it won’t be “feasible” to grow by around 40 percent to achieve the PEDP target for this year.

According to Ortiz, exporters are currently assessing the trade on a yearly basis.

“Titingnan namin ‘yung trend kung tataas. Pero palagay namin baka sakaling ma-[hit] ‘yan [PEDP target] mga three years; maybe

two. Pero imposibleng this year,” he said.

Ortiz-Luis pointed to the persisting trade war between the US and China as possibly dampening outbound shipments from the Philippines.

“So yung sa Chinese projection [naming], medyo mababago both imports and exports.”

Trade between the Philippines and China reached nearly $40 billion in 2023, with imports from China amounting to $29.38 billion and outbound shipments or exports reaching $10.86 billion last year, based on data from the Philippine Statistics Authority (PSA).

Meanwhile, total trade between the Philippines and the United States in 2023 was roughly at $20 billion, with goods sourced from the US amounting to $8.41 billion and exports to US reaching $11.54 billion in 2023.

Albeit not being able to beat

the growth target set in the PEDP for this year, Ortiz-Luis maintained the optimism that “we’re the highest in our area.”

However, he also pointed to some issues related to rules of origin (ROO) that should be looked into in order to ease the burden of exporters. For instance, OrtizLuis said garments and wearables exporters experience roadblocks due to stringent requirements of export destination countries.

“Marami, for instance ‘yung garments and wearables. Hindi nila mapakinabangan dahil may mga mga issues na yung origin mo...eh tayo wala tayong textile industry so iniimport natin yung mga textile from China eh ayaw nila sa China... di rin makapasok yung ano [exporters] natin],” he noted.

Yung GSP nahuli. Minsan isang taon mahigit na hindi pa nare-renew. So nahihirapan ‘yung exporters,” he added.

Manila earlier sought assistance from the US Department of Commerce on trade issues like detained apparel exports.

Washington prohibits the importation of goods into its country that are manufactured with forced labor in China, especially from its Xinjiang region.

“The Uyghur Forced Labor Prevention Act, also known as the UFLPA, directs the Forced Labor Enforcement Task Force to develop a strategy for supporting enforcement of the prohibition on the importation of goods into the United

States manufactured wholly or in part with forced labor in the People’s Republic of China, especially from the Xinjiang Uyghur Autonomous Region, or Xinjiang,” the US Customs and Border Protection website noted.

Meanwhile, Philexport Trustee for Textile, Yarn and Fabric Sector Robert Young prodded the government to build a wearable-textile factory to keep up with export orders particularly from the European Union (EU).

The request came as the Philippine garments exported to the 27-member bloc EU are slapped with a 12 percent or higher duty due to its “strict” rules of origin (ROO). The rules impose a ceiling for value-added inputs sourced from a non-Generalized Scheme of Preferences (GSP) beneficiary country.

“They [EU] prefer that the fabric we will be using will be sourced from the Philippines. So this is one way of saying the Philippines has to produce its own fabric,” explained Young, who’s also president of the Foreign Buyers Association of the Philippines (FOBAP).

“Which as everybody knows is not possible because we do not have the textile industry in the Philippines right now to be used for these products for exports and therefore, we have to import,” he added. (Full story here: https://businessmirror.com. ph/2024/03/28/state-built-factory-to-meet-textile-exportdemand/)

Tokyo-backed AZEC goes vs Manila’s RE goals–group

TBy Lenie Lectura @llectura

HE support extended by the Japanese government for the rollout of the Asia Zero Emission Community (AZEC) platform in the Philippines is allegedly moving in the opposite direction of the Philippine government’s push for the development of more renewable energy (RE) projects.

Locals push Q1 arrivals on Boracay to 538,603

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

BORACAY Island continues to cement its reputation as among the most popular tourism destinations in the country, as total inbound arrivals reached 538,603 in the first quarter of the year, up 2.86 percent from the same period in 2023.

Data from the Municipality Tourism Office of Malay showed that arrivals from January to March 2024, were also some 5.09-percent higher than the 512,516 tourists who arrived in the same period in pre-pandemic 2019.

Of total arrivals in the first three months of 2024, foreign tourists appear to be on the rebound, reaching 144,405, which was 32-percent higher than the same period last year. However, compared to the first quarter in 2019, foreign tourist arrivals were 53.4-percent less in 2024, and accounted for just 26.8 percent of total arrivals this year. In 2019, foreign tourists were some 60 percent of total arrivals on the island.

Domestic tourists continued to push the popularity of the Boracay, considered one of Asia’s best islands, as they reached 386,868 in the first quarter of the year, accounting for some 72 percent of total arrivals for the period.

While they were 2.2-percent less than those who arrived in the same period in 2023, domestic tourists were 109.53-percent higher than the 184,632 who arrived in the first quarter of 2019.

‘No promotions by DOT’

Miguel Martin F. Salazar, chairman of the Boracay Foundation Inc., noted that “South Koreans are currently favoring Bohol. It just takes 10 minutes from the airport to their resort. There are no environmental or port fees, and other ancillaries.”

In contrast, he noted, tourists have to pay so many fees in Boracay : P300-environmetal fee for foreigners, P150 arrival port fee, P150 departure port fee, P100 snorkeling fee, P100 picnic fee, among others.

Korean and Chinese nationals used to be the top foreign markets in Boracay. Chinese tourists in the Philippines, however, have yet to return to their pre-pandemic numbers due to their economic troubles. (See “DOT lauds e-visa for Chinese tourists; but will they come?” in the BusinessMirror , July 31, 2023.)

Carrying capacity breached anew

MEANWHILE, the carrying capacity of Boracay was breached again for three days in March, with most domestic travelers choosing the popular island resort for their vacation in Semanta Santa (Holy Week). This is the third year in a row that the island’s carrying capacity was breached.

Data from the Malay Tourism Office showed tourists reaching 23,367 on March 28 (Maundy Thursday); 24,049 on March 29 (Good Friday) ; and 21,776 on March 30 (Black Saturday). A study by the Department of Environment and Natural Resources (DENR) has pegged the island’s carrying capacity to 19,215 tourists at any given time.

Earlier, the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding (MOU) with three major energy firms in the country for the rollout of the Japanese-led AZEC platform. The three power firms are jointly pushing for new natural gas-fired power generating facilities in the country and are in talks to acquire the Philippines’s first liquefied natural gas import terminal owned by the Atlantic Gulf & Pacific Co.

“With this development, the Japanese government and, by extension, the Philippine government

This is according to clean energy think tank Center for Energy, Ecology, and Development (CEED), which said that “AZEC has been repeatedly denounced as a ploy to promote detrimental energy in developing countries in Asia, particularly with fossil gas and unproven fossil-friendly technologies.”

are revealing a clear lack of commitment to a genuine renewable energy transition,” CEED Executive Director Gerry Arances was quoted in a statement as saying.

The Philippines is the third partner country, after Vietnam and Indonesia, to have agreed to establish a framework for holding local discussions between the Japanese public and private sectors, including Japanese companies, and the local government, since the launch of the AZEC framework at the Ministerial Meeting in March 2023.

Arances said the MOU with the JBIC was “concerning” because of the bank’s record in promoting fossil fuels. “Japan keeps saying that LNG

is a necessary bridge fuel and Southeast Asia needs it. But the Japanese push for gas is all about Japanese corporate interest,” he said.

CEED said since the Philippines is “abundant” with RE resources, a 100 percent transition is possible. The latest total installed RE capacity in the Philippines from solar, wind, hydro, geothermal and biomass technologies as of end-January 2024 stood at 8,417 megawatts (MW).

“We are a country whose abundant renewable energy resources makes a 100-percent transition aligned to the 1.5 °C climate goal possible. The focus should be on unlocking this, and not in putting up more gas,” Arances said.

LTFRB sticks to deadline for PUV consolidation

By Lorenz S. Marasigan @lorenzmarasigan

THE

ONE tourism leader who spoke on background told the BusinessMirror, “Many stakeholders feel the Department of Tourism (DOT) is not supporting Boracay nowadays. Secretary [Christina Garcia] Frasco came here last Labor Day and told us that Boracay is already the top destination and we are doing a great job. So she doesn’t want to meddle anymore. Those are not her exact words, but we felt that was what she meant.”

Another resort owner, who asked not to be named, added, “DOT is doing more to promote Cebu, but not Boracay,” which she said was the reason foreign travelers are still not visiting the island. Cebu is the home province of Frasco.

In a separate interview, Dindo

From March 24 to 31, total daily arrivals on the island reached 56,134, while daily tourist departures reached 53,526, according to the same data. Carrying capacity refers to an ecosystem’s ability to support people and other living things without having negative effects. In Boracay’s case, the carrying capacity particularly refers to the total number of tourists that can physically fit in the swimming pools and beach areas at any given day.

As of press time, the DOT had no comment on the breach. Stakeholders on the island havc been urging DENR to draw up a new carrying capacity study to take into consideration rehabilitation efforts that were carried out by the government.

According to LTFRB Chairman Teofilo E. Guadiz III, the agency is firm on the April 30 deadline and this will be the “last extension” for industry consolidation.

To recall, there were multiple

Land Transportation Franchising and Regulatory Board (LTFRB) is no longer keen on extending the deadline for industry consolidation among public utility vehicle (PUV) operators, issuing a stern warning to industry players to consolidate their units before April 30.

extensions of the consolidation of franchises of PUV operators. The prior deadline for applications was set at December 31 last year, but was extended to April 30.

“Again, I have to reiterate, hanggang April 30 na lang po ito. We need to consolidate because that is the first part of the modernization program,” he said. “So we are asking now the jeepney operators to now avail of the last extension because come April 30, we will no longer allow those who did not consolidate to ply the routes of Metro Manila.”

Failure to meet the consolidation deadline will result in the revocation of the franchises of non-compliant operators, effectively barring them from operating.

“We will revoke those franchises, and we will only be allowing those who have consolidated to ply the routes of Metro Manila,” Guadiz said.

Industry consolidation refers to the initiative of the government that requires PUV operators to

form cooperatives or corporations for them to gain access to business financing to acquire modern units.

It is part of the PUV Modernization Program (PUVMP), which started in 2017. The program aims to overhaul the nation’s public transportation system, particularly focusing on jeepneys, the backbone of public transit in the Philippines.

The program’s main goal is to modernize and unify the fragmented public utility vehicle industry, emphasizing the replacement of older vehicles with those meeting Euro 4 emissions standards. The program’s objectives include changing the franchising system, introducing new routes, and providing education to drivers.

Commuter groups and networks and driver organizations had called on the government to delay the implementation of the program, as this will result in a significant loss in transport supply, which they argue has already been insufficient to meet the current demand.

Solon cites ₧2.5B to aid drivers as oil prices rise

ALAWMAKER cited there is P2.5 billion allocated to aid public transport drivers grappling with soaring fuel costs.

In a statement, Makati City Rep. Luis N. Campos Jr. said the government has allocated in this year’s budget some P2.5 billion in financial aid to mitigate the impact of escalating fuel prices.

“Congress earmarked the sum in the 2024 national budget specifically for direct fuel subsidies to public utility vehicle drivers, including tricycle, ride-hailing, and delivery service drivers,” Campos said.

Campos, a vice chairman of the House Committee on Appropriations, added that an additional P510 million was set aside as subsidy to farmers using fuel-powered agricultural machinery.

Campos said Congress is “determined to sustain the annual funding for the subsidies to vulnerable sectors,” so long as the Dubai crude oil price based on

Mean of Platts Singapore (MOPS) has reached $80 per barrel.

Last year, modern jeepney and UV Express drivers should have received P10,000 each, and drivers of other modes of public transport received P6,500 each in subsidies. Delivery riders received P1,200 each while tricycle drivers received P1,000 each.

Meanwhile, farmers received P3,000 each.

Under the 2024 budget law, driver-beneficiaries must undergo identification and validation processes conducted by the Land Transportation Franchising and Regulatory Board, while farmerbeneficiaries must be listed in the Registry System for the Basic Sectors in Agriculture.

As of April 2, gasoline and diesel pump prices per liter have increased year-to-date by P8.20 and P4.50, respectively, according to the Department of Energy.

Day

of

Valor: PBBM rallies support for fighting ‘threats’

By Samuel P. Medenilla @sam_medenilla

AS the country faces new external and internal threats, President Ferdinand R. Marcos Jr. rallied support for government efforts in defending the country’s sovereignty during the commemoration of the Araw ng Kagitingan (Day of Valor) on Tuesday. Marcos stressed the importance of the national response to such threats, which have already “caused physical harm to Filipinos.”

“These [incidents] are not acceptable. This is senseless and unjust especially at the current time when countries are engaged in peaceful communication,” Marcos said in Filipino in his speech during the commemoration ceremony of the 82nd Day of Valor at the Mt. Samat National Shrine in Bataan.

The Day of Valor commemorates the Filipino and US soldiers, who valiantly defended Bataan, before their surrender to Japanese imperial forces in 1942.

The President did not specify what the said threats were, but last month he condemned the incident wherein

a Chinese Coast Guard (CCG) fired its water cannon at a Philippine supply ship, injuring its crew members. He urged Filipinos to emulate the examples of national heroes in protecting the country’s interest and people.

“Just like what our forefathers did, we should not be subjugated and oppressed, especially within our own backyard,” Marcos said.

“We must leverage these lessons if we are to safeguard the future of our Republic. The sacrifices of our heroes must galvanize us, and strengthen our national consciousness and our patriotic spirit,” he added.

Regional peace MARCOS made the pronouncement days before his expected participation in the landmark Philippines-Japan-US meeting in Washington D.C., where the enhanced defense cooperation among the three countries will be discussed.

Japanese Ambassador to the Philippines Endo Kazuya recognized how Japan’s relations with the Philippines and the US has greatly improved since World War II.

He said Japan is determined in preserving regional peace through the first-ever trilateral meeting, which will elevate its cooperation with the Philip-

pines and the US on defense, strategic infrastructure, cyber economic security and energy.

“We the Japanese people are determined to never allow the devastation of war to be repeated again for the sake of the present and future generations by upholding the international order based on the rule of law. Japan and the Philippines together with other like-minded countries become united partners in building a world founded on peace, harmony and goodwill,” Japanese Ambassador to the Philippines Endo Kazuya said.

US Embassy Charge d’ Affaires Robert

Ewing agreed with Kazuya and said the trilateral meeting, to be held on April 11, 2024, will serve as a venue for the three countries to discuss how to prevent conflict in the Indo-Pacific region.

“This week, President Biden will host President Marcos, and Japanese Prime Minister Kishida at the White House for the first trilateral leaders summit. They will advance a partnership based on deep historical ties, robust economic relationships, a resolute commitment to shared democratic values and a shared vision for a free and open Indo-Pacific,” Ewing said

DENR ends protected area accord with Socorro town’s ‘cult’ group

BBy Erwin M. Mascariñas

UTUAN CITY—The Department of Environment and Natural Resources (DENR) on Monday cancelled the protected area land use agreement with the Socorro Bayanihan Services Inc. (SBSI) in the island town of Socorro on Siargao Island, Surigao del Norte province.

The DENR and SBSI had entered into an arrangement on June 15, 2004, under the Protected Area Community Based Resource Management Agreement (PACBRMA) with a term of 25 years or until June 2029, covering an area of 353 hectares located in Barangay Rizal-Sering, which is within the Siargao Island Protected Landscape and Seascape (SIPLAS).

DENR Secretary Maria Antonia Yulo Loyzaga announced the cancellation on Monday, April 8, citing violations of the terms and conditions of the agreement.

“We are actually trying to put an end to the abuses that have gone on for several years in this area. As many of you know, the intention of the PACBRMA is really to provide sustainable livelihoods to tenured migrants in the protected areas,” said Loyzaga.

The DENR cited in a written document SBSI’s violations of the agreement as a result of the investigation conducted last year. These included the establishment of a settlement area in the PACBRMA area, establishment of checkpoints regulating the entry of non-members, failure to file or submit monthly, quarterly, or annual

reports related to the implementation of the Community Resource Management Plan (CRMP), and construction of infrastructures/ developments not included in the CRMP.

The illegal structures constructed and being developed include new access roads, a communal quadrangle with a basketball court, a volleyball court, and stage with bleachers, a wave pool, a recording studio, a gymnasium/ dome, and landscaping and monuments.

The order also directed SBSI members, whether tenured migrants or not, their families, representatives, and agents, to vacate the protected area, “self-demolish their houses, and harvest their crops within a reasonable period of time upon consultation with the concerned agencies for their proper and safe relocations and re-integration.”

“The whole idea of our approach is to be as humane and peaceful in terms of this process. That’s why it took a while because we wanted to be sure that there were options available especially for peaceful resettlement,” Loyzaga said.

The order came nearly a year after the suspension order issued by the DENR Secretary to SBSI on September 29, 2023, after SBSI was found to have introduced improvements and structures in the area that were not following the Protected Area Management Plan and without the required endorsement from the Protected Area Management Board (PAMB).

The order indicated that Section 8 of DAO 2004-32 and Rule 23.5 of the Implementing Rules and Regulations (IRR) of the ENIPAS Act

MMCA highlights PHL desire for peace in Indo-Pacific: Gibo

By Rex Anthony Naval

THE recent conduct of the multilateral marime cooperative activity (MMCA) by the Philippines, United States, Japan and Australia highlights the country’s commitment to peace in the Indo-Pacific Region, Department of National Defense (DND) Secretary Gilberto C. Teodoro Jr. said Monday night.

“The Philippines is committed to preserving a secure, stable, and peaceful Indo-Pacific region. As an archipelagic country, it both upholds and champions a rules-based global order, especially in the maritime domain, where the primacy of UNCLOS is well-established and enshrined in the 2016 Arbitral award,” he said in a statement.

And by taking part in the MMCA, Teodoro said the Philippines is changing its defense paradigms, strengthening its own capabilities, and leveraging alliances with allies and like-minded nations.

“This will enable the Philippines to both secure its territory and its rights under international law and to be an effective partner of other countries in ensuring freedom of navigation, overflight, and security in international waters,” the DND chief noted. Participating units in the MMCA included the BRP Gregorio Del Pilar (PS-15) with AW-109 helicopter, BRP Antonio Luna (FF-151) with AW-159 “Wildcat” antisubmarine warfare helicopter, and BRP Valentin Diaz (PS-177) from the Philippine Navy; the USS Mobile and a P-8A “Poseidon” from the United States Navy;

the Royal Australian Navy HMAS Warramunga and Royal Australian Air Force P-8A “Poseidon” maritime patrol aircraft; and the JS Akebono from the Japan Maritime Self-Defense Forces.

“The MMCA demonstrated the participating countries’ commitment to strengthen regional and international cooperation in support of a free and open Indo-Pacific through interoperability exercises in the maritime domain. It will also contribute greatly to the AFP’s capability development,” AFP public affairs office chief Col. Xerxes Trinidad earlier said. These activities were designed to enhance the different forces’ abilities to work together effectively in maritime scenarios.

The AFP earlier said the MMCA was successfully completed with no untoward incident as of 4:52 p.m. and all planned exercises conducted.

As this developed, DND spokesperson Arsenio Andolong said two People’s Liberation Army Navy ships, with bow numbers 792 and 162, were sighted but did not interfere with the training activities.

“They did not interfere with the activity, they were probably there, can only surmise, observing from a distance as this is a freedom of navigation activity. I can assume that they are also performing freedom of navigation on their waters but, as the exercise transpired, it went on smoothly, there was no interference, nothing much to report except that the exercise that they conducted was successful,” he added.

of 2018 enumerates the grounds for the cancellation/ termination of PACBRMA after neglect or violation of the terms and conditions of the agreement; violation of environment and natural resources laws, rules and regulations; conversion of the Community Based Program area or portions, to other uses not authorized in the Protected Area Management Plan, and failure to implement the Community-based Resource Management Plan (CBRMP).

Led by Jay Rence Quilario, alias Señor Aguila, SBSI had been the subject of controversy after a hearing by the Senate Committee on Public Order and Dangerous Drugs in September 2023, regarding alleged qualified trafficking in persons,

facilitation of child marriage, solemnization of child marriage, and child abuse charges. Aguila, along with 12 other members, were arrested in November 2023 following a warrant issued by acting Presiding Judge Ambrosio Moleta of Regional Trial Court Branch 31 in Dapa town, for eight counts of qualified trafficking in persons under Republic Act No. 9208.

The terrestrial, wetland, and marine areas of Siargao and its surrounding islets in the northeastern part of Mindanao in the province of Surigao del Norte were declare a protected area on October 10, 1996, by President Fidel V. Ramos through Proclamation No. 902 under the category

of protected landscape and seascape.

By June 22, 2018, Siargao Island Protected Landscape and Seascape (SIPLAS) was included as one of the legislated protected areas in the Philippines through Republic Act (RA) 11038 or the Expanded National Integrated Protected Areas System (ENIPAS) Act of 2018

SIPLAS covers nine municipalities including the municipality of Socorro which is located in the Bucas Grande Island. The town is composed of 14 barangays, with a land area of 12,677 hectares, 10,125 hectares of which is within timberland, and the remaining 2,552 hectares is within Agricultural (Alienable and Disposable) land.

The World

Palestinians returning to Khan Younis after Israeli withdrawal find unrecognizable city

By Wafaa Shurafa & Samy Magdy The Associated Press

DEIR AL-BALAH, Gaza Strip— Stunned Palestinians found their home city unrecognizable Monday as they filtered in to salvage what they could from the vast destruction left by Israeli troops who withdrew from southern Gaza’s Khan Younis a day earlier after months of fighting and bombardment.

With thousands of buildings destroyed or damaged, families tried to find their homes along streets bulldozed down to the dirt, surrounded by landscapes of rubble and debris that were once blocks of apartments and businesses. On other blocks, buildings still stood but were gutted shells, scorched and full of holes, with partially shattered upper floors dangling off precipitously.

The scenes in Khan Younis underscored what has been one of the world’s most destructive and lethal military assaults in recent decades, leaving most of the tiny coastal territory unlivable for its 2.3 million people. It also portended what is likely to happen in Gaza’s southernmost town of Rafah, where half of Gaza’s uprooted population is now crowded, if Israel goes ahead with plans to invade it.

Israeli Prime Minister Benjamin Netanyahu escalated his pledge to take the offensive to Rafah, declaring in a video statement Monday, “It will happen. There is a date,” without elaborating. He spoke as Israeli negotiators were in Cairo discussing international efforts to broker a cease-fire deal with Hamas.

Magdy Abu Sahrour was shocked to see his house in Khan Younis flattened.

“I couldn’t find my home because

of all the destruction,” he said, standing in front of the rubble. “Where is my place, where is my home?”

Israel sent troops into Khan Younis in December, part of its blistering ground offensive that came in response to Hamas’ Oct. 7 attack and hostage-taking into southern Israel. Its withdrawal brought Israeli troops in the tiny coastal enclave to one of the lowest since the war began.

The war, now in its seventh month, has killed more than 33,000 Palestinians, mostly women and children, according to local health authorities. Israeli authorities say 1,200 people, mostly civilians, were killed and roughly 250 people taken hostage in Hamas’ Oct. 7 attack.

Many of the thousands who came to Khan Younis by foot and on donkey carts on Monday have been sheltering in Rafah. The withdrawal gave them a chance to see the wreckage of their homes and retrieve some possessions. But with the city now unlivable, they said they had little immediate chance to return.

An estimated 55% of the buildings in the Khan Younis area— around 45,000 buildings—have been destroyed or damaged, according to Corey Scher of City University of New York and Jamon

Van Den Hoek of Oregon State University, two mapping experts who have been using satellite imagery to track destruction.

“Where do I sleep? Where do I go?” Heba Sahloul’s aged mother sobbed in despair, sitting amid the rubble of the family’s living room. Her daughters searched for anything they could take with them. The room’s walls were blown away and the floor was piled with chunks of concrete, slabs of the ceiling and broken countertops. Only the columns painted pink gave any sign it had once been their home.

Sahloul said Israeli troops ordered them to leave during the fighting. “We left all our things here, and we went out with only our clothes,” she said. Her father was killed earlier in the assault, leaving Sahloul, her sisters and her mother. “We are only six women at home and we do not know where to go,” Sahloul said. One woman clambered over collapsed concrete slabs atop a

mountain of her home’s wreckage. Her son crawled on all fours into a hollow under the rubble and twisted rebar, clearing away concrete blocks.

“There are no words to describe the pain inside me,” the woman said, her voice breaking. “Our memories, our dreams, our childhood here, our family … It’s all gone.” The woman, who identified herself only by her first name, Hanan, put a few items they found into a backpack, including a plastic red flower.

Khan Younis’ main Nasser Hospital was trashed inside, with debris strewn around the wards and ceiling panels collapsed. The exterior appeared largely intact, but the extent of the damage was not immediately clear. Israeli troops stormed the facility during the offensive, saying they believed the remains of hostages were inside, though they did not report finding any.

Israel said Khan Younis was a major Hamas stronghold and that

its operations there killed thousands of militants and inflicted heavy damage to a vast network of tunnels used by Hamas to move weapons and fighters. It also claimed to have found evidence that hostages were held in the city.

With the troops’ withdrawal, Hamas could seek to regroup there as it has in northern Gaza, where the military scaled back forces earlier.

Israel plans to invade Rafah, which it says is Hamas’ last major stronghold, have raised global alarm over the fate of the around 1.4 million Palestinians sheltering there. Israel’s top ally, the US, has said invading Rafah would be a mistake and has demanded a credible plan to protect civilians.

Israel is purchasing 40,000 tents to prepare for the evacuation of Rafah, an Israel official said, speaking on condition of anonymity because they were not authorized to speak to the media. It was not clear where they would be set up and how many people

they could house. Allowing people to return to Khan Younis could relieve some pressure on Rafah, but many have no homes to return to.

In northern Gaza, the Israeli military has continued to carry out airstrikes and raids in areas where it says Hamas regrouped.

Last month, troops stormed Gaza’s largest hospital, Shifa, in a raid that triggered two weeks of fighting in and around the facility. Israel says it killed some 200 Hamas fighters in the raid, but hospital officials say many civilians were among the dead.

On Monday, forensic experts from Gaza’s Health Ministry were still removing bodies from the yard of Shifa Hospital, where the main buildings were left as burned-out shattered husks. Workers lifted body parts out of the dirt and put them into plastic sacks. It was not clear how many were recent dead and how many came from a mass grave that was dug in the hospital in November to bury war casualties.

Hussein Muhaisen, director of ambulances in the Gaza Strip, said the number of dead was still not known. He said he found the bodies of a woman and children whose hands were bound. His account could not be independently confirmed. Israel says no civilians were killed during its raid.

Israel says its war aims to destroy Hamas’ military and governing capabilities and return the roughly 130 remaining hostages, a quarter of whom Israel says are dead.

Negotiations mediated by Qatar, Egypt and the US over a ceasefire and exchange of captives continue. But Israel and Hamas appear to remain far apart. In a statement Monday, Hamas said the latest response it has received from Israel does not include a permanent crease-fire or the withdrawal of Israeli forces from Gaza. It has repeatedly said both terms are nonnegotiable, while Israel has firmly rejected them.

Magdy reported from Cairo.

Total solar eclipse wows thousands of spectators in North America; clouds part just in time for most

By Marcia Dunn Ap Aerospace Writer

Texas—After

ESQUITE,

Mbeholding the midday darkness of a total solar eclipse that raced across the continent, thousands of spectators in New England were stuck seeing only brake lights Monday night as highway traffic backed up for hours.

Crowds of motorists leaving remote northern New Hampshire in the late afternoon clogged local roads leading to Interstate 93, which they found also thronged by cars inching southward. By midnight, some drivers had traveled only 50 miles (80 km) in nine hours.

The New Hampshire Department of Transportation urged patience and said there were about 22,000 more vehicles visiting the tiny state compared to the same time last year. Heavy traffic was also reported in Vermont and Massachusetts.

For those unlucky travelers, the gridlock made for a frustrating end to a thrilling day for those fortunate enough to glimpse the spectacle of the eclipse through clear skies.

Streetlights blinked on and the planets came into view, as the moon shrouded the sun for a few minutes across the land. Dogs howled, frogs croaked and some people wept, all

part of the eclipse mania gripping Mexico, the US and Canada.

Almost everyone in North America could see at least a partial eclipse, weather permitting.

It was the continent’s biggest eclipse audience ever, with a couple hundred million people living in or near the shadow’s path, plus scores of out-of-towners flocking in to see it.

With the next coast-to-coast eclipse 21 years out, the pressure was on to catch this one.

Clouds blanketed most of Texas as the total solar eclipse began its diagonal dash across land, starting along Mexico’s mostly clear Pacific coast and aiming for Texas and 14 other US states, before exiting into the North Atlantic near Newfoundland.

In Georgetown, Texas, the skies cleared just in time to give spectators a clear view. In other spots, the eclipse played peek-a-boo with the clouds.

“We are really lucky,” said Georgetown resident Susan Robertson. “Even with the clouds it is kind of nice, because when it clears up, it is like, Wow!”

“I will never unsee this,” said Ahmed Husseim of Austin, who had the eclipse on his calendar for a year.

Just east of Dallas, the hundreds gathered at Mesquite’s downtown area cheered and whis-

tled as the clouds parted in the final minutes before totality. As the sun finally became cloaked, the crowd grew louder, whipping off their eclipse glasses to soak in the unforgettable view of the sun’s corona, or spiky outer atmosphere, and Venus shining brilliantly off to the right.

Going into Monday’s spectacle, northern New England into Canada had the best chances of clear skies, and that didn’t change.

Holly Randall, who watched from Colebrook, New Hampshire, said experiencing the eclipse was beyond her expectations.

“I didn’t expect to cry when I saw it,” she said, as tears ran down her face.

The show got underway in the Pacific before noon EDT. As the darkness of totality reached the Mexican resort city of Mazatlán, the faces of spectators were illuminated only by the screens of their cellphones.

The cliff-hanging uncertainty of the weather added to the drama. But the morning’s overcast skies in Mesquite didn’t rattle Erin Froneberger, who was in town for business and brought along her eclipse glasses. “We are always just rushing, rushing, rushing,” she said. “But

this is an event that we can just take a moment, a few seconds that it’s going to happen and embrace it.”

A festival outside Austin wrapped up early on Monday because of the threat of afternoon storms. Festival organizers urged everyone to pack up and leave.

Eclipse spectators at Niagara Falls State Park had to settle for darkness, but no stunning corona views. As people made their way out of the park a little more than an hour later, the sun broke through.

“I’d give it a 6 out of 10,” said Haleigh Thibodeau, who traveled from Buxton, Maine, with her mother.

In Rushville, Indiana, the streetlights lit up as darkness fell, drawing cheers and applause from residents gathered on porches and sidewalks.

For some, eclipse day was also their wedding day. Couples exchanged vows in a mass ceremony at a park in Trenton, Ohio.

St. Louis was just outside totality, but that didn’t stop residents from taking in the scene from the Mississippi River aboard the Tom Sawyer, a paddlewheel riverboat.

“I almost enjoyed it a little bit more because it didn’t go black,”

said passenger Jeff Smith of St. Louis.

During Monday’s full eclipse, the moon slipped right in front of the sun, entirely blocking it. The resulting twilight, with only the sun’s outer atmosphere or corona visible, was long enough for birds and other animals to fall silent, and for planets and stars to pop out.

At the Fort Worth Zoo, Adam Hartstone-Rose, a researcher from North Carolina State University, said most animals remained relatively calm. One gorilla climbed atop a pole and stood there for several seconds, likely a sign of vigilance.

“Nobody was doing sort of bonkers behavior,” he said. The out-of-sync darkness lasted up to 4 minutes, 28 seconds.

That’s almost twice as long as it was during the US coast-to-coast eclipse seven years ago because the moon was closer to Earth.

It took just 1 hour, 40 minutes for the moon’s shadow to race more than 4,000 miles (6,500 kilometers) across the continent. The path of totality—approximately 115 miles (185 kilometers) wide—encompassed several major cities this time, including Dallas; Indianapolis; Cleveland ; Buf-

falo, New York ; and Montreal. An estimated 44 million people live within the track, with a couple hundred million more within 200 miles (320 kilometers).

“This may be the most viewed astronomical event in history,” said National Air and Space Museum curator Teasel Muir-Harmony, standing outside the museum in Washington, awaiting a partial eclipse.

Experts from NASA and scores of universities were posted along the route, launching research rockets and weather balloons, and conducting experiments.

Monday’s celestial sensation held special meaning for Fallon Vahani, who followed the action from the Indianapolis Motor Speedway. Blind from birth, the 44-year-old Indianapolis resident moved her fingertips over a Braille table reader, feeling the small plastic bumps pulsing as they traced the moon’s path. She’d listened to a radio broadcast of the 2017 eclipse and was eager to try this new method.

“I was very excited when I could finally understand what everyone else was talking about,” she said.

PALESTINIANS walk through the destruction in the wake of an Israeli air and ground offensive in Khan Younis, southern Gaza Strip on Monday, April 8, 2024. Israel says it has withdrawn its last ground troops from the city, ending a four-month operation. AP/FATIMASHBAIR

The World

Vatican blasts gender-affirming surgery, surrogacy and gender theory as violations of human dignity

By Nicole Winfield The Associated Press

VATICAN CIT Y—The Vatican on Monday declared gender-affirming surgery and surrogacy as grave violations of human dignity, putting them on par with abortion and euthanasia as practices that it said reject God’s plan for human life.

The Vatican’s doctrine office issued “Infinite Dignity,” a 20page declaration that has been in the works for five years. After substantial revision in recent months, it was approved March 25 by Pope Francis, who ordered its publication.

From a pope who has made outreach to the LGBTQ+ community a hallmark of his papacy, the document was received as a setback, albeit predictable, by trans Catholics. But its message was also consistent with the Argentine Jesuit’s long-standing belief that while trans people should be welcomed in the church ; so-called “gender ideologies” should not.

In its most eagerly anticipated section, the Vatican repeated its rejection of “gender theory,” or the idea that one’s biological sex can change. It said God created man and woman as biologically different, separate beings, and said people must not tinker with that or try to “make oneself God.”

“It follows that any sex-change intervention, as a rule, risks threatening the unique dignity the person has received from the moment of conception,” the document said.

It distinguished between gender-affirming surgeries, which it rejected, and “genital abnormalities” that are present at birth or that develop later. Those abnormalities can be “resolved” with the help of health care professionals, it said.

Advocates for LGBTQ+ Catholics immediately criticized the document as outdated, harmful and contrary to the stated goal of recognizing the “infinite dignity” of all of God’s children. They warned it could have real-world effects on trans people, fueling antitrans violence and discrimination.

“While it lays out a wonderful rationale for why each human being, regardless of condition in life, must be respected, honored, and loved, it does not apply this principle to gender-diverse people,” said Francis DeBernardo of New Ways Ministry, which advocates for LGBTQ+ Catholics. Nicolete Burbach, lead expert in social and environmental justice at the London Jesuit Centre, said the document showed the Vatican continues to fail to engage with queer and feminist approaches to the body “which it simply dismisses as supposedly subjecting both the body and human dignity itself to human whims.”

“I think the main difficulty faced by the document is that it attempts to affirm the church’s authentic commitment to human dignity in the face of a troubling history on the part of the church itself around attacks on that dignity,” said Burbach, a trans Catholic theologian who researches transness and the

Person comes forward to claim $1.3 billion Powerball jackpot in Oregon, officials say

Catholic Church.

The document’s existence, rumored since 2019, was confirmed in recent weeks by the new prefect of the Dicastery for the Doctrine of the Faith, Argentine Cardinal Víctor Manuel Fernández, a close Francis confidant.

Fernández had cast the document as something of a nod to conservatives after he authored a more explosive document approving blessings for same-sex couples that sparked criticism from conservative bishops around the world, especially in Africa.

And yet, in an apparent attempt at balance, the document takes pointed aim at countries— including many in Africa—that criminalize homosexuality. It echoed Francis’ assertion in a 2023 interview with The Associated Press that “being homosexual is not a crime.”

The new document denounces “as contrary to human dignity the fact that, in some places, not a few people are imprisoned, tortured, and even deprived of the good of life solely because of their sexual orientation.”

The White House said President Joe Biden, a devout Catholic, was “pleased” to see that the declaration “furthers the Vatican’s call to ensure that LGBTQ+ (individuals) are protected from violence and imprisonment around the world,” press secretary Karine Jean-Pierre said.

On the specifics involving gender theory, Jean-Pierre stressed that it was not Biden’s role to “litigate internal church policy.”

Asked how its negative take on trans people squared with Francis’ message of welcome, Fernández said the welcome remained but that the pope fervently believed that the idea that gender was fluid “rather than helping to recognize dignity, impoverishes the vision” of a man and woman coming together to create new life.

The document is something of a repackaging of previously articulated Vatican positions, read now through the prism of human dignity. It restates well-known Catholic doctrine opposing abortion and euthanasia, and adds to the list some of Francis’ main concerns as pope: the threats to human dignity posed by poverty, war, human trafficking, the death penalty and forced migration.

In a newly articulated position, it says surrogacy violates both the dignity of the surrogate mother and the child.

While much attention about surrogacy has focused on possible exploitation of poor women as surrogates, the Vatican asserts that the child “has the right to have a fully human (and not artificially induced) origin and to receive the gift of a life that manifests both the dignity of the giver and that of the receiver.”

“Considering this, the legitimate desire to have a child cannot be transformed into a ‘right to a child’ that fails to respect the dignity of that child as the recipient of the gift of life,” it said.

The Vatican had previously published its most articulated position on gender in 2019, when the

Congregation for Catholic Education rejected the idea that people can choose or change their genders and insisted on the complementarity of biologically male and female sex organs to create new life. The new document from the more authoritative Dicastery for the Doctrine of the Faith quotes from that 2019 education document, but tempers the tone. Significantly, it doesn’t repeat Vatican doctrine that homosexual people deserve to be treated with dignity and respect but that homosexual actions are “intrinsically disordered.”

In a news conference to introduce the document, Fernández acknowledged that the “intrinsically disordered” language was very strong. He suggested there might be a better way, “with other words,” to express the church’s vision of sex between husband and wife to create new life.

Francis has ministered to trans Catholics, including trans sex workers, and insisted that the Catholic Church must welcome all children of God.

But he has also denounced “gender theory” as the “worst danger” facing humanity today, an “ugly ideology” that threatens to cancel out God-given differences between man and woman.

He has blasted in particular what he calls the “ideological colonization” of the West in the developing world, where development aid is sometimes conditioned on adopting Western ideas about gender.

Transgender activists immediately called the document “hurt-

Pope marks 6-month anniversary of Hamas attacks by meeting with relatives of hostages

Vatican disappoints transgender Catholics with rejection of changing biological sex

ful” and devoid of the voices and experiences of real trans people, especially in the distinction it makes between gender-affirming surgeries and surgeries on intersex people.

“The suggestion that genderaffirming health care—which has saved the lives of so many wonderful trans people and enabled them to live in harmony with their bodies, their communities and (God)—might risk or diminish trans people’s dignity is not only hurtful but dangerously ignorant,” said Mara Klein, a nonbinary, transgender activist who has participated in Germany’s church reform project.

Klein said the Vatican “hypocrisy” was furthered by the document’s approval of surgery on intersex people, “which if performed without consent especially on minors often cause immense physical and psychological harm.”

The document comes at a time of some backlash against transgender people, including in the United States where Republicanled state legislatures are considering a new round of bills restricting medical care for transgender youths—and in some cases, adults.

“On top of the rising hostility towards our communities, we are faced with a church that does not listen and refuses to see the beauty of creation that can be found in our biographies,” Klein said in an e-mail.

Can’t get enough of the total solar eclipse or got clouded out? Here are the next ones to watch for By

The World

Iran’s foreign minister accuses US of giving Israel ‘green light’ to attack Syria consulate

By Kareem Chehayeb & Albert Aji The Associated Press

DAMASCUS, Syria—Iran’s foreign minister Monday accused the United States of giving Israel the “green light” for a strike on its consulate building in Syria that killed seven Iranian military officials including two generals.

Hossein Amirabdollahian reiterated Tehran’s vows that it will respond to the attack, widely blamed on Israel, that appeared to signify an escalation of Israel’s targeting of military officials from Iran, which supports militant groups fighting Israel in Gaza, and along its border with Lebanon.

Hezbollah leader Hassan Nasrallah in an address Monday reiterated the Iran-backed group’s support for a Tehran military response to the attack that killed Gen. Mohammad Reza Zahedi, a senior military official in the Iranian Revolutionary Guard’s Quds Force, and worsened fears of the war spiraling into the rest of the Middle East.

Since the war in Gaza began six months ago, clashes have increased between Israel and Lebanon’s Hezbollah. Hamas, which rules Gaza and attacked Israel on October 7, is also backed by Iran, as well as an umbrella group of Iraqi militias targeting US military bases and positions in Syria and Iraq.

Though Israel has regularly conducted strikes targeting Iranian military officials and allies, Zahedi’s death was the most significant blow for Tehran since a US drone targeted and killed Quds Force chief Gen. Qassim Soleimani in 2020 in Baghdad.

“I’d like to say with a very loud voice from here in Damascus that America has a responsibility in what happened and must be held responsible,” Amirabdollahian told reporters in Damascus during a visit where he met his Syrian counterpart, Faisal Mekdad, who condemned both the strike and Israel’s offensive in Gaza. Amirabdollahian also met President Bashar Assad, with whom he discussed Gaza and the wider situation in the region, a statement from Assad’s office said.

The Iranian foreign minister, who earlier that day inaugurated the opening of a new consular section in a nearby building, justified

his claims by saying that Washington and “two European countries” did not condemn the attack on the diplomatic building. He said that failure to condemn the attack “indicates that Washington had given the green light to Israel to commit this crime.”

The Biden administration has insisted that it had no advance knowledge of the airstrike. Washington is Israel’s vital military ally.

Israel, which rarely acknowledges strikes against Iranian targets, said it had no comment on the strike in the Syrian capital. However, Pentagon spokeswoman Sabrina Singh said last week that the US has assessed Israel was responsible.

Initially after the strikes, Iranian state media said Zahedi led the Quds Force in Lebanon and

‘Panama Papers’ trial starts: 27 people face charges in global money laundering scandal

PANAMA CIT Y—The trial of 27 people charged in connection with the worldwide “Panama Papers” money laundering started Monday in a Panamanian criminal court.

Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak.

The Panama Papers include a collection of 11 million secret financial documents that illustrate how some of the world’s richest people hide their money.

The repercussions of the leaks have been far-ranging, prompting the resignation of the prime minister of Iceland and bringing scrutiny to the leaders of Argentina and Ukraine, Chinese politicians and Russian President Vladimir Putin, among others.

The often-delayed trial opened Monday, with lawyers Juergen

Mossack, Ramón Fonseca and other former representatives, lawyers or ex-employees of the firm facing money laundering charges.

Mossack was present in the courtroom, and said “I am not guilty of such acts.”

Lawyers for Fonseca said he was in a hospital in Panama. The case centers on allegations the firm set up shell companies to acquire properties in Panama with money from a sprawling corruption scheme in Brazil known

Syria until 2016.

Then, in a public address Monday, Hezbollah leader Hassan Nasrallah said Zahedi was a key figure for the Lebanese group, and had three four-year stints in the tiny Mediterranean country.

Nasrallah, like Syria, and other key allies of Tehran, have said they remain committed to backing Iran.

“It’s a natural right for Iran. It’s natural for the Islamic Republic to conduct this response (to the consulate attack),” Nasrallah said. Nasrallah said Zahedi’s first involvement was until 2002, overseeing Israel’s withdrawal from southern Lebanon, and helping Hezbollah scale up. Zahedi’s second term covered some of the fiercest fighting in Syria’s uprising turned civil war, where Tehran and Russia played a key role in backing

as the Car Wash, or Lava Jato in Portuguese.

Fonseca has said the firm, which closed in 2018, had no control over how its clients might use offshore vehicles created for them. Both Mossack and Fonseca have Panamanian citizenship, and Panama does not extradite its own citizens.

The two were acquitted on other charges in 2022.

The records were first leaked to the German daily Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists, which began publishing collaborative reports with news organizations in 2016.

US federal prosecutors have alleged that Mossack Fonseca conspired to circumvent American laws to maintain the wealth of its clients and conceal tax dollars owed to the IRS. They alleged the scheme dates to 2000 and involved sham foundations and shell companies in Panama, Hong Kong and the British Virgin Islands. AP

Assad against opposition forces. Zahedi’s final stint began in 2020 and ended when he was killed.

Hezbollah militants and Israeli troops have clashed along the tense Lebanon-Israel border since October 8, the day after the Hamas attack on southern Israel.

The Hezbollah leader said that the moment the clashes began, Zahedi reportedly wanted to join Hezbollah militants on the front line but wasn’t permitted to do so.

Earlier Monday, Israeli airstrikes over southern Lebanon killed Ali Ahmad Hussein, an elite commander of Hezbollah’s secretive Radwan Force. Hezbollah announced Hussein’s death, but did not give any details on the circumstances or his role with the group in line with how it makes public the deaths of its members.

The killing of Hussein, one of the most senior militants slain thus far, came ahead of the Iranian foreign minister’s visit to Syria.

Israel considers Hezbollah its most serious immediate threat, estimating it has some 150,000 rockets and missiles, including precision-guided missiles that can hit anywhere in Israel. The group, which has thousands of battle-hardened fighters who participated in Syria’s 12-year conflict, also has different types of military drones.

In January, Israeli jets struck and killed another elite Hezbollah commander from the Radwan Force, Wissam al-Tawil, who fought with the group for decades and took part in some of its biggest battles.

Hezbollah says it will stop firing rockets once a ceasefire is reached in the Gaza Strip that would end the Israel-Hamas war. Israeli officials have been demanding that the Radwan Force withdraw from the border area in order for tens of thousands of displaced Israelis to return home.

Washington and Paris have been scrambling to find a diplomatic resolution to halt the fighting along the Lebanon-Israel border, hoping to prevent a new allout war between Hezbollah and Israel since a month-long war in the summer of 2006.

The risk of war spreading to Lebanon has worsened existing political tensions within the country between Hezbollah and their most vocal opponent, the nationalist Christian Lebanese Forces party.

Matters worsened Monday when the Lebanese military announced the death of a Lebanese Forces local official who had been kidnapped a day earlier in northern Lebanon. The Lebanese Army said they detained three Syrians accused in the kidnapping and killing of Pascale Suleiman as they tried to steal his car.

The Lebanese Forces party cast doubt on the army’s findings, saying they believed it was a political assassination.

Nasrallah in his speech slammed members of the Christian party and allies who had accused Hezbollah of being involved in the kidnapping, calling it “baseless” and dangerous rhetoric.

Chehayeb reported from Beirut.

Earth breaks 10th consecutive monthly heat record in March, says Copernicus

By Suman Naishadham The Associated Press

WASHINGTON—For the 10th consecutive month, Earth in March set a new monthly record for global heat—with both air temperatures and the world’s oceans hitting an all-time high for the month, the European Union climate agency Copernicus said.

March 2024 averaged 14.14 degrees Celsius (57.9 degrees Fahrenheit), exceeding the previous record from 2016 by a tenth of a degree, according to Copernicus data. And it was 1.68 degrees C (3 degrees F) warmer than in the late 1800s, the base used for temperatures before the burning of fossil fuels began growing rapidly.

Since last June, the globe has broken heat records each month, with marine heat waves across large areas of the globe’s oceans contributing.

Scientists say the record-breaking heat during this time wasn’t entirely surprising due to a strong El Nino, a climatic condition that warms the central Pacific and changes global weather patterns.

“But its combination with the non-natural marine heat waves made these records so breathtaking,” said Woodwell Climate Research Center scientist Jennifer Francis.

With El Nino waning, the margins by which global average temperatures are surpassed each month should go down, Francis said.

Climate scientists attribute most of the record heat to humancaused climate change from carbon dioxide and methane emissions produced by the burning of

coal, oil and natural gas.

“The trajectory will not change until concentrations of greenhouse gases in the atmosphere stop rising,” Francis said, “which means we must stop burning fossil fuels, stop deforestation, and grow our food more sustainably as quickly as possible.”

Until then, expect more broken records, she said.

Under the 2015 Paris Agreement, the world set a goal to keep warming at or below 1.5 degrees Celsius (2.7 degrees Fahrenheit) since pre-industrial times. Copernicus’ temperature data is monthly and uses a slightly different measurement system than the Paris threshold, which is averaged over two or three decades.

Samantha Burgess, deputy director of Copernicus, said March’s record-breaking temperature wasn’t as exceptional as some other months in the past year that broke records by wider margins.

“We’ve had record-breaking months that have been even more unusual,” Burgess said, pointing to February 2024 and September 2023. But the “trajectory is not in the right direction,” she added.

The globe has now experienced 12 months with average monthly temperatures 1.58 degrees Celsius (2.8 degrees Fahrenheit) above the Paris threshold, according to Copernicus data.

In March, global sea surface temperature averaged 21.07 degrees Celsius (69.93 degrees Fahrenheit), the highest monthly value on record and slightly higher than what was recorded in February.

“We need more ambitious global action to ensure that we can get to net zero as soon as possible,” Burgess said.

IN this photo released on the official Telegram page of the Syrian Presidency, Syrian President Bashar Assad, right, welcomes Iranian Foreign Minister Hossein Amirabdollahian before their meeting in Damascus, Syria on Monday, April 8, 2024. Iran’s foreign minister Monday accused the United States of giving Israel the “green light” to strike its consulate building in Syria that killed seven Iranian military officials including two generals. Syrian Presidency Telegram page via AP

The World

Biden to meet Kishida amid shared concerns about China and differences on US Steel deal

By Aamer Madhani The Associated Press

WASHINGTON—Japa-

nese Prime Minister

Fumio Kishida begins a much-anticipated visit to Washington on Tuesday aiming to spotlight shared concerns about provocative Chinese military action in the Pacific and at a rare moment of public difference between the two nations over a Japanese company’s plan to buy an iconic US company.

Kishida and his wife will stop by the White House Tuesday evening ahead of Wednesday’s official visit and formal state dinner as President Joe Biden looks to celebrate a decades-long ally he sees as the cornerstone of his Indo-Pacific policy. Kishida will be the fifth world leader honored by Biden with a state dinner since he took office in 2021.

Ahead of the White House visit, Kishida is set to visit Arlington National Cemetery and stop by the US Chamber of Commerce Tuesday. Biden and Kishida on Wednesday will hold talks and take part in a joint news conference before Biden fetes the Japanese leader with the state dinner in the East Room.

The prime minister has also been invited to address a joint meeting of Congress on Thursday. He will be just the second Japanese leader to address the body ; Shinzo Abe gave a speech to Congress in 2015.

The visit comes after Biden announced last month that he opposes the planned sale of Pittsburgh-based US Steel to Nippon Steel of Japan, exposing a marked

rift in the partnership at the very moment the two leaders aim to reinforce it. Biden argued in announcing his opposition that the US needs to “maintain strong American steel companies powered by American steelworkers.”

Ambassador Rahm Emanuel, Biden’s envoy to Tokyo, sought Monday to downplay the impact of Biden’s opposition to the US Steel acquisition to the relationship. Emanuel noted that in February the Biden administration approved a plan that would drive billions of dollars in revenue to a US-based subsidiary of the Japanese company Mitsui for crane production in the United States.

“The United States relationship with Japan is a lot deeper and stronger and more significant than a single commercial deal,” said Emanuel, the former mayor of Chicago, in a joint appearance at Washington’s Center for Strategic and International Studies with Japan’s chief envoy to Washington.

“As we would say in Chicago, you got to chill.”

Nippon Steel announced in December that it planned to buy US Steel for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and US national security. Shigeo Yamada, Japan’s ambassador to Washington, declined to comment on whether Kishida would raise the Nippon-US Steel deal with Biden.

Biden has sought to place greater foreign policy focus on the Pacific even while grappling with the fallout of the Russian invasion of Ukraine and the grinding Israel-Hamas war.

Last year, Biden brought together Kishida and South Korean President Yoon Suk Yeol at the presidential retreat at Camp David, Maryland, a historic summit between leaders of two countries that have a difficult shared history.

Biden has honored Yoon with a state visit and picked Kishida’s predecessor, Prime Minister Yoshihide Suga, as the first faceto-face foreign leader visit of his presidency.

The administration has been pleased by Japan’s strong support for Ukraine. Tokyo has been one of the largest donors to Kyiv since Russia’s February 2022 invasion, and Japan has surged its defense spending amid concern about China’s military assertiveness.

Yamada suggested in his joint appearance with Emanuel that Kishida would underscore Japan’s support for Ukraine during his appearance before Congress, and lay out why the conflict in Eastern Europe matters to his country. Biden is struggling to get House Republicans to back his call to send an additional $60 billion to Kyiv as it tries to fend off Russia.

Kishida has warned that the war in Europe could lead to conflict in East Asia, suggesting that a lax attitude to Russia emboldens China.

“The prime minister’s conviction is today’s Ukraine could be tomorrow’s East Asia,” Yamada said.

Kishida will stick around Washington on Thursday to take part in a meeting with Biden and Philippine President Ferdinand Marcos Jr. Philippine-Chinese relations have been repeatedly tested by

skirmishes between the two nations’ coast guard vessels in the disputed South China Sea.

Chinese coast guard ships also regularly approach disputed Japanese-controlled East China Sea islands near Taiwan. Beijing says Taiwan is part of its territory and will be brought under control by force if necessary.

“Cooperation among our three countries is extremely important in maintaining peace and stability in the Indo-Pacific and in defending a free and open international order based on the rules of law,” Kishida said Monday before leaving for Washington.

The leaders are expected to discuss plans to upgrade the US military command structure in Japan. There are about 54,000 US troops stationed in Japan.

Kishida and Biden are also expected to confirm Japan’s participation in NASA’s Artemis moon program as well as its contribution of a moon rover developed by Toyota Motor Corp. and the inclusion of a Japanese astronaut in the mission. The rover, which comes at a roughly $2 billion cost, would be the most expensive contribution to the mission by a nonUS partner to date.

On Friday, Kishida will tour Toyota’s electric vehicle battery factory under construction as well as Honda’s business jet subsidiary in North Carolina. He will also meet students at North Carolina State University.

The Associated Press writer Mari Yamaguchi in Tokyo contributed to this report.

BBy The Associated Press

EIJING—Russian Foreign Minister Sergey Lavrov arrived in Beijing Monday to display the strength of ties with close diplomatic partner China amid Moscow’s grinding war against Ukraine and an ongoing effort to align their foreign policies against the US and its allies.

The two continent-sized authoritarian states, increasingly in dispute with democracies and NATO, seek to gain influence in Africa, the Middle East and South America. China has backed Russia’s claim that President Vladimir Putin launched his assault in 2022 because of Western provocations, without producing any solid evidence.

Russian state news agency Tass said the ministers would “discuss the situation in Ukraine and the Asia-Pacific region, issues of bilateral cooperation and interaction in the international arena,” quoting Russian Foreign Ministry spokesperson Maria Zakharova.

Zakharova posted a photo on social media site Telegram showing Lavrov meeting with counterpart Wang Yi but gave no information of the content of their discussions. China’s Foreign Ministry and state media had no immediate reports about the talks.

Lavrov arrived in China on Monday on an official visit that will last until Tuesday. Wang has visited Russia during the conflict in Ukraine and maintained China’s line of not dubbing the Russian war in Ukraine an invasion.

expects biggest-ever Eid homecoming of 190 million people

By Edna Tarigan The Associated Press

J AKARTA, Indonesia—Millions of Indonesians are packing bus and train stations, airports and highways as they head to hometowns to celebrate Thursday’s Eid al-Fitr festival with family. The Transportation Ministry expects the largest movement of people in Indonesia’s history. The agency is projecting the number of travelers heading home

could reach 193 million, or nearly 72 percent of the population— up from 124 million, or 46 percent, last year.

Indonesia is the world’s most populous Muslim-majority country. And every year, there is a vast exodus of people from urban centers across the vast archipelago to more rural hometowns to celebrate the end of the Muslim fasting month of Ramadan. The homecoming tradition is known as “mudik.”

In the capital, Jakarta, thousands of people have filled bus and train stations every day over the past week. More than 1.1 million people are expected to depart the greater Jakarta area to return to hometowns.

China has at times taken an equally combative tone against the US and its allies. China and Russia have held joint military drills, and are seen as seeking to supplant democracies with dictatorships in areas where they wield influence.

Despite its clear backing of Russia in the Ukraine war, China’s Foreign Ministry spokeswoman Mao Ning told reporters Monday that “China has an objective and fair position on the Ukraine issue.”

“We have been actively promoting peace talks and political solutions. China is not a creator or party to the Ukraine crisis, and we have not and will not do anything to profit from it,” Mao told reporters at a daily briefing.

China has also said it wasn’t providing Russia with arms or military

assistance, although it has maintained robust economic connections with Moscow, alongside India and other countries.

Just weeks before Russia invaded Ukraine, Putin visited Beijing for the opening of the 2022 Winter Olympics and the sides signed a pact pledging a “no limits” relationship that has China supporting Russia’s line, even while formally urging peace talks.

“We have always controlled the export of dual-use items in accordance with the law,” Mao said, referring to industrial items that can be used for both industrial or military purposes, such as drones.

“The relevant country should not smear or attack the normal relations between China and Russia,” Mao said. “The relevant country” was a reference to the US, Russia and China’s chief geopolitical rival.

In a phone call last week with Chinese leader Xi Jinping, US President Joseph Biden pressed China over its defense relationship with Russia, which is seeking to rebuild its industrial base as it continues its invasion of Ukraine. And he called on Beijing to wield its influence over North Korea to rein in the isolated and erratic nuclear power.

Adding to the tension between the two countries, US lawmakers generated new legislation that would ban TikTok, the popular social media application, if its China-based owner ByteDance doesn’t sell its stakes in the platform within six months of the bill’s enactment.

Lawmakers are concerned Chinese authorities could force ByteDance to hand over data on the 170 million Americans who use TikTok.

Russia Foreign Minister Lavrov visits Beijing to highlight ties with key diplomatic partner Indonesia

All Chinese firms, especially those in the social media sphere, are obligated to hand over user data to the government.

Lavrov’s visit also coincides with the US Treasury Secretary Janet Yellen, who on Monday wrapped up four days of talks with Chinese officials and said in Beijing they had “difficult conversations” about national security, including American concerns that Chinese companies are supporting Russia in its war in Ukraine.

Yellen also said the Biden administration will push China to change an industrial policy that poses a threat to US jobs.

Revitalizing rainwater harvesting in PHL for sustainable water management

THE Christmas tree is one of the most ubiquitous holiday symbols that is seen everywhere in the Philippines during the so-called “ber” months.

Some households put it up as early as September, to mark the beginning of the world’s longest Christmas celebration. Unlike in temperate countries where households use pine trees, Christmas trees in the Philippines are usually made of plastic and are stored in cabinets after the end of the holidays.

Just like the proverbial Christmas tree, certain ideas are dusted off whenever El Nino strikes the Philippines. One of these ideas is the construction of more rainwater har vesting facilities to reduce the demand for groundwater These facilities, according to the United States Department of Energy, allow the capture, diversion and storage of rainwater from rooftops for later use.

Har vested rainwater could be used for landscape irrigation, wash applications, toilet and urinal flushing. The availability of water for these activities will help ease the pressure on freshwater supply, which continues to shrink due to rising demand and climate change. Conser ving water resources will also be beneficial to the agricultural sector, which uses huge quantities of water to produce food.

Despite its benefits, rainwater har vesting is not widely practiced in the Philippines. According to the Department of Agriculture, the Philippines receives some 2,400 millimeters (mm) of rainfall, one of the world’s highest. Unfortunately, the countr y manages to store only about 6 percent of that rainfall, unlike India that manages to har vest 60 percent of the 700 mm of rain it receives annually.

And this seeming apathy towards rainwater collection persists despite the presence of a 35-year-old law mandating local governments to establish a rainwater har vesting system in all barangays nationwide. Republic Act (RA) 6716, or the Rainwater Collector and Springs Development Act of 1989, requires the construction of rainwater collectors in ever y barangay to prevent flooding and ensure the continuous provision of clean water during dr y seasons. RA 6716 provides for the construction by the Department of Public Works and Highways of water wells, rainwater collectors, development of springs and rehabilitation of existing water wells in all barangays in the Philippines.

In a statement he released in 2019, Senator Sonny Angara said that law also calls for the creation of a water works and sanitation association in ever y barangay to operate and maintain a rainwater collection facility, which components include catchment, treatment and distribution. Rainwater is collected from rooftops, then purified in a central treatment system to be pumped to various water lines. Malaysia, Thailand and Singapore augment their water supply by har vesting rainfall.

Sensible ideas l i ke t he const ruct ion of ha r vest ing ra inwater fac i l it ies shou ld not be placed in t he backbur ner aga in once a crisis has passed. Pol icymakers need to immed i ately put in place t he necessa r y measures to help t he cou nt r y cope w it h t he cl imate crisis. In t he case of improv ing water ava i labi l ity, t he nat ional and local gover nments need not reinvent t he wheel; t hey just need to f u lly implement a 35-yea r-old law.

ROW crucial for infrastructure progress

APIVOTAL factor that underpins the success of an infrastructure project is the acquisition of the right of way (ROW). Permission to gain access or acquire land or property enables the implementation of vital infrastructure projects aimed at enhancing connectivity, mobility and accessibility. Without ROW, a project cannot move forward—and its intended objectives cannot be achieved.

ROW is a legal term denoting access to a piece of property for various pur poses, such as government infrastructure projects like railways, power lines, telecom facilities or pipelines. Prioritizing planning and ROW acquisition are crucial to efficient project completion if we want to advance public works cost-effectively. Other wise, valuable time and public funds could be squandered.

Under Republ ic Act (RA) No. 10752, also known as the R ight-ofWay (ROW) Act, the government can acquire real property as ROW sites for infrastructure projects through donation, negotiated sale, expropriation or other modes of acquisition.

Timely ROW acquisition is vital to manage costs and timelines. Legal

property disputes can lead to delays and increased expenses, potentially straining government budgets and prolonging project timelines. Thus, ROW plays a critical role in averting costly delays.

By obtaining access to the property even before construction starts, the government can avoid lengthy legal disputes over land ownership. An amicable resolution or resettlement at the early stage of the project helps save money and ensures projects meet schedules.

Numerous projects were stalled in the past over ROW issues. For i nstance, t he complet ion of t he 35.7-kilometer Central Luzon Link Expressway (CLLEx) faced delays because of ROW problems. Fortu-

ABy David Voreacos & Chris Dolmetsch

JAILED trader accused of stealing $110 million on the Mango Markets exchange faces a criminal trial this week that will test the reach of a US crackdown on cryptocurrencies.

plied game theorist,” claims his actions weren’t theft at all. Rather, he says, he legally exploited a weakness in the decentralized finance application. The trial will apparently be the first time a US criminal jur y will weigh what type of “DeFi ” transactions are legal.

In the cr ypto world, where digital blockchains govern who owns what, the virtual ecosystem is built around the notion that “code is law.”

It means that if something isn’t explicitly forbidden by terms of a crypto platform, then government can’t intercede. But prosecutors say those rules can’t protect traders against possible criminal charges for market manipulation or fraud.

assets.

Eisenberg’s jur y includes a Millenn iu m Pa r tners employee who formerly worked at Goldman Sachs, a chief investment officer of a family office, a Broadway performer and choreographer, and a line producer for films and television.

Eisenberg, a self-described “ap-

nately, the Central Luzon Regional Development Council inter vened, engaging with affected landowners so that construction could finally resume. The latest update indicates that construction will recommence in the second quarter of 2024. A si m i la r c h allenge hi nde red the Metro Manila Subway Project (MMSP). According to the Department of Transportation (DOTr), only 55 percent of the necessar y ROW for the subway project was secured as of Februar y 2024. Projects must secure 100 percent of the required ROW to become fully operational. Other government-approved rail projects in the pipeline should also initiate ROW acquisition as soon as funding becomes available. T hese include the North-South Commuter Railway System, Mindanao Railway Project and PNR South Long Haul. This underscores why project financing precedes actual groundbreaking.

Recognizing the issue, President Ferdinand Marcos Jr established t he Inter -Agency Comm ittee for R ight-of-Way (ROW) Activities for National Railway Projects to ensure the timely completion of these vital public works. The committee will address concerns on land acquisition that often hinder railway project implementation. The President issued Administrative Order (AO) No. 19, authorizing the ROW Committee composed of

several agencies to streamline land acquisition. The committee was specifically tasked with studying and devising an efficient and collaborative mechanism to streamline the process of land acquisition necessar y for railway projects’ implementation. It will craft and lead in implement i ng gover nment pol ic ies on railway projects, including providing project-affected persons (PAP) with livelihood, income restoration and resettlement. It is important to fairly compensate or relocate affected landowners and resolve the concerns of aggrieved parties out of court because a legal proceeding can take years.

Four days after his transactions on the exchange, Eisenberg posted on Twitter: “I was involved with a team that operated a highly prof itable trading strategy last week.” He also said he believed “all of our actions were legal open market actions, using the protocol as designed.”

In a deal with the Mango DAO, Eisenberg agreed to return $67 million of what he’d gotten from depositors in exchange for them agreeing to release him from legal claims and not pursuing his prosecution.

Eisenberg left Puerto R ico, where he was living, the day after his Mango trades and flew to Israel. W hen he returned to Puerto R ico on Dec. 26, 2022, US agents arrested him. He’s been in jail ever since, as a judge ruled he poses a risk of fleeing before trial. He was indicted on charges of commod it ies f raud, commod it ies manipulation and wire fraud. He’s pleaded not guilty. The US Securities and Exchange Commission and the Commodity Fu-

“It touches on the big argument within cr ypto—is code law?” said Chris Janczewski head of global investigations at TRM Labs. “If the code allows somebody to do that, does the actual law? Obviously, the government took a different approach that code is not law. Just because there is an opportunity to exploit it does not mean that it’s legal.” Eisenberg targeted Mango Markets, a decentralized autonomous organization that lets people borrow, lend and trade cr yptocurrencies and sets its own rules for participants. The theft alleged by prosecutors in this week’s trial is one of the largest in criminal cases involving a DAO.

www.news.businessmirror@gmail.com

China has too much at stake in industry push to listen to Yellen

By Christopher Condon

JANET

YELLEN got a respectful hearing in China in recent days for her main message—that Beijing’s manufacturing drive is a threat to other economies. But the warmth of her reception likely won’t translate into the policy shifts she wants.

At a press conference in the Chinese capital Monday, the US Treasury chief wrapped up her four-day trip echoing the theme she began it with: the global economy will be adversely impacted by ramped-up factor y exports from China, which needs to put more effort into shoring up consumer demand at home.

“It is a critical issue and it is one that could have an adverse impact on American workers and firms if we don’t find a solution,” Yellen told reporters at the US ambassador’s residence in Beijing. “My job here is to make sure I’ve explained this ver y thoroughly and presented this concern at the highest levels of Chinese leadership.”

There’s some overlap between her concerns and the agenda of Chinese leaders, who have recently warned about excess capacity in some industries. But they appear to see the issue as set to be solved by market forces over time, without the need for a wholesale shift in economic policy that entails a large-scale consumer stimulus or a rapid slowdown in manufacturing growth

“They recognize that overcapacity is an issue, and I don’t think that they have ulterior motives to keep prices down,” as that hurts profits at domestic firms, said Alfredo Montufar-Helu, head of the China Center for Economics and Business at the Conference Board.

A reversal of policies that stimulate manufacturing is unlikely because of the persistence of two key motivations for that strategy: the slump in China’s property market and US curbs on technology. The pursuit of technological self-reliance “will continue, given the state of the geopolitical landscape,” MontufarHelu said.

China will rely on the market to remove overcapacity, Vice Finance Minister Liao Min told reporters on Monday. That suggests Beijing views the elimination of unprofitable companies through mechanisms like bankruptcies and mergers will solve the issue.

New sectors

LIAO also pushed back on Yellen’s overcapacity claims in the solar and elect ric-ve hicle i ndu st ries. “Current production capacity is far from meeting market demand, especially the huge potential demand for new energy products in many developing countries,” he said.

Yellen stressed that surging Chinese output of things like EVs and batteries is a worr y for many countries beside the US, and that shifting focus away from exports will be good for China too.

There’s a risk that China believes

continued from A

newly formed committee w ill expedite the completion of major rail projects.

I hope that ROW committees will also be established for other infrastructure projects, such as roads, bridges, tollways, power lines, water projects and telecom and Internet facilities to ensure timely and onschedule completion. Local government units should actively engage in discussions to resolve any community-level issues.

This approach will help sustain the progress achieved in infrastruct ure development t hu s fa r T he Department of Budget and Management reported an 11-percent increase in infrastructure spending in 2023, sur passing the government’s

Japan’s Kishida will look to sidestep cracks in unity with Biden

By Stephen Stapczynski, Shoko Oda & Yoshiaki Nohara

JAPANESE

Prime Minister Fumio Kishida heads to Washington looking to strengthen his country’s alliance with the US while sidestepping issues that cast their ties in an unfavorable light—including the planned takeover of United States Steel Corp.

US criticism is in bad faith Beijing already argues that the US is pursuing a Cold War-type approach toward it—seeking to slow its economic development. State-media articles have called overcapacity claims part of a hidden agenda” to suppress Chinese hi-tech companies.

That won’t be helped by Yellen also using her trip to warn about a key source of political disagreement: Russia’s war in Uk raine. Chinese banks and expor ters aiding Russia’s effort could face US penalties, she said.

Trade between China and Russia has surged since that conflict began in 2022 and Wester n companies pulled out. China’s Foreign Ministr y said Monday that the countr y hasn’t sought to gain from the war and won’t do so. Yellen said she’s had “difficult conversations about national security” during the trip.

In public, the US Treasur y chief spent most of the v isit hammering home the argument that China should change course on economic policy. At her press conference Monday, Yellen was asked by a Chinese reporter what Beijing is supposed to do, when local officials would worr y t hat pu ll ing back on investment would threaten jobs.

“Well, there’s supply and then there’s also demand,” she said. “One possible approach would be to boost demand and to see a larger share of GDP accrue to households.”

Sen ior Treasur y off ic i als sa id Yellen had urged such an approach in her meetings. During talks with Vice Premier He Lifeng—the czar for economic policy—she suggested China could spur domestic spending by strengthening retirement security and making education more affordable. Beijing has tried for years to reorient its economy toward one driven by consumption, with little success. Last year, it unveiled a plan to boost household spending on everything from electric appliances to furniture, a project that it is still rolling out.

Least hawkish FOR all the disagreements, Yellen— who’s appreciated in China as one of the least hawkish of senior US officials—was made welcome. For now, both sides have agreed to keep talking, with economic teams holding further discussions this month in Washington, China’s Finance Ministr y said.

With President Joe Biden set to contest an electoral rematch against Donald Trump in November and both men vying to look tough on China, Beijing is aware that more US curbs could be on the way. With assistance from Lucille Liu and Tom Hancock /Bloomberg

target. The goal is to maintain annual infrastructure spending at 5 percent of the gross domestic product or higher

According to the DBM, “overall infrastructure disbursements were bolstered to P1.419 trillion, up 11.0 percent year-on-year and 9.8 percent above the program.” The DBM noted the accelerated program implementation and fund mobilization of the DPWH and the DOTr in the second half of 2023 Kudos to these agencies for efficiently utilizing funds to construct projects aimed at enhancing connectivity, mobility and accessibility in the countr y. It will pave the way for a more connected, sustainable and progressive future.

President Joe Biden last month voiced opposition to Nippon Steel Cor p.’s $14 billion-plus plan to buy t he US steelmaker a ra re intervention even if he has not directly pledged to block it. W hile that places him alongside union workers in a critical election year, it runs the risk of upsetting one of Washington’s strongest allies in Asia.

T he Japanese gover nment h as ref ra i ned f rom comment i ng substant ively on t he deal, and K ishida has sa id he doesn’t plan to d iscuss it at a su mm it w it h Biden t his week.

Yet t he case i llu st rates t he u neasy posit ion many US all ies h ave been left i n as Biden prepa res for a rematc h w it h his predecessor Donald

Tru mp i n November’s president i al elect ion.

T he US h as repeatedly asked par tners like Japan to restrict China’s access to cutting-edge technology and called for cooperation to counter Beijing’s effor ts to claim vast areas of the South China Sea. Washington also wants its allies to roll out more job-creating investment in the US, w ithout offering much new in retur n.

K ishida, whose voter support has

slumped to record lows in recent months, is keen to play along and avert the public gaze from problematic areas in the relationship. The prime minister will instead tr y to keep the limelight on areas of agreement.

“Japan and the US are global partners taking a lead together on various international problems,” Kishida told reporters Monday before departing for Washington. “I want to confirm that Japan-US relations are even more solid than ever and this is an extremely important opportunity to convey that to the world.”

There may be business logic too. Portraying the steel deal as simply a matter between two private companies gives the takeover a better chance of staying alive, according to people familiar with the matter

“Japan won’t make this a political issue and the Japanese government won’t comment on it,” said Akira Amari a ruling party heavyweight and former minister known for his industrial policy exper tise. “T his deal would be a symbol of JapanUS cooperation as allies because we would be able to confront China’s rising technological capability.”

Chinese state media, meanwhile,

The US has repeatedly asked partners like Japan to restrict China’s access to cutting-edge technology and called for cooperation to counter Beijing’s efforts to claim vast areas of the South China Sea. Washington also wants its allies to roll out more job-creating investment in the US, without offering much new in return.

have made the most of the cracks, pointing out that US aversion to the takeover sits awkwardly with its complaints over Beijing.

“For a long t i me t he US h as painted itself as a defender of free trade and pointed an accusing finger at China for not allowing wider market access and providing a level playing field for foreign investors,” the China Daily said, describing the US as the biggest threat to economic globalization.

Yet the Nippon Steel merger as well as a slew of restrictive policies that have been introduced to crack down on Chinese high-tech companies such as Huawei and TikTok, belie Washington’s claim,” the Englishlanguage paper said.

Biden’s motivation is clear He needs to gain an edge over Trump, and he’ll do what he perceives as helping his chances, whether it be back ing the United Steelworkers’ union opposition to the steel merger

With no pay, Pakistan’s Finance minister leaves banker life behind to fix economy

PAKISTAN’S new finance minister is on a mission to fix his country. To many, it’s an unenviable task.

Muhammad Aurangzeb took up the post last month at a time when Pakistan’s economy is enduring the most turbulent period in its history.

Lurching from one bailout program to the next with the International Monetar y Fund classifying its debt as only borderline sustainable, Pakistan has Asia’s fastest inflation, anemic growth and one of the lowest tax-collection rates in the world.

As a prominent banker and JPMorgan Chase & Co. alumnus, Aurangzeb comes as well equipped as any of his predecessors to face the challenge. But that’s to disregard an array of extra factors affecting the role, which are outside his control, i nclud i ng volat i le domest ic pol itics, tensions with neighbors India, Afghanistan and Iran, and a catastrophic position on the front line of climate change.

“Broadly, the finance minister’s job is to manage and steer the economy,” said Mosharraf Zaidi, a former government adviser and founder of policy think tank Tabadlab based in Pakistan’s capital, Islamabad. “It seems simple when framed this way. In fact, it is one of the most complex jobs on the planet.”

Among the most immediate of his tasks is to seal a deal by June with the IMF for a minimum three-year program worth at least $6 billion. Key objectives in the negotiations for the fund will include broadening the tax base, improving debt sustainability and restoring viability to the energy sector—all steps that Pakistan has avoided for decades.

Aurangzeb cites a shared sense of urgency with Prime Minister Shehbaz Sharif, who was elected to a second successive term in March “He’s a person who wants to get things done,” he said of Sharif in an inter view in his ministr y in Islamabad.

sending the futures contracts up by 1,300 percent.

Eisenberg then exploited a feature of the exchange that allowed participants to “borrow” against their

“This is the time to actually capitalize on that mandate and ensure that all the tough decisions that need to be taken are taken now,” said Aurangzeb. The alternative would be “a huge missed opportunity that we can ill afford.”

“We should consult with ever yone, we should tr y to build a consensus, but a few things we’ll just have to bite the bullet and do it,” he said.

Hailing from a prominent family in Lahore—his father was Pakistan’s attorney general—Aurangzeb, 59, went to the nation’s elite A itchison College then studied at W har ton on a scholarship before working at Citigroup Inc. in New York early in his career

He returned to Pakistan to work at a unit of ABN Amro Bank NV, later shifting to the bank’s headquarters in Amsterdam. In 2018, he again accepted a move back to his home countr y when he left JPMorgan in Singapore to take over as chief executive officer of Pakistan’s largest lender, Habib Bank Ltd., just after it had been fined $225 million and forced to end its US operations for weak anti-money-laundering controls and sanctions compliance.

At the time, his return to Pakistan surprised those he worked with since he was seen to be leaving the comfort of Singapore and a cushy role at JPMorgan for a post that few considered a dream job, according to a former colleague.

Aurangzeb wou ld often speak about his love for the countr y of his birth and the elevation to finance minister is seen as evidence of his commitment to the nation, the person said, asking not to be named dis-

holdings, withdrawing $110 million in cr yptocurrencies f rom Mango Markets, but he had “no intention of repaying them,” the US charges. The price of MNGO futures contracts immediately collapsed.

An attorney for Eisenberg and a spokesman for federal prosecutors in the Southern District of New York

or burnishing his green credentials over LNG.

“This has been a bitter lesson for Japanese government and business,” said Ken Weinstein, the Japan chair at the right-leaning Hudson Institute. Japanese businesses will think “about the role election-year politics plays in investment strategies.”

The consequences of the US election will also play out in gas. A US moratorium on l iquef ied nat ural gas export facilities bankrolled by Japanese companies came as a surprise to Japan’s top importers. The freezing of licenses for new export plants comes in addition to tougher sanctions on a Russian Arctic LNG project vital to Tokyo.

The risk is not insignificant. The rise of the US as the world’s top LNG exporter wouldn’t have materialized without decades-spanning commitments from Japanese utilities and trading houses to purchase the fuel in the wake of the shale revolution.

Japan’s government in that case has taken a public stance, say ing that it was concerned about the decision and that the nation will take steps to secure its energy needs—an unusually strong statement from a key partner Democratic Senator Joe Manchin spoke of the uncertainty over energy in Houston last month: “It’s just a cur veball that scares the bejesus out of our allies.” With assistance from Ruth Liao, Jennifer A. Dlouhy, Joe Deaux and Isabel Reynolds /Bloomberg

Aurangzeb would often speak about his love for the country of his birth and the elevation to finance minister is seen as evidence of his commitment to the nation, the person said, asking not to be named discussing personal decisions.

cussing personal decisions. Married with two adult children, Aurangzeb—also known as Auri was a member of the prime minister’s economic advisor y council in 2022 during Sharif’s previous term, a role that gave him an inside view of the premier’s management style. He was tapped for the finance post a few weeks before the election, flying from his base in the commercial capital Karachi to meet with Sharif multiple times before accepting the offer “It’s a huge priv ilege,” he said. “But then it comes with a set of expectations.”

Seats of power

HIS ministr y sits close to the Margalla hi lls that bound the capital to the nor th, a 20-minute walk from t he prime minister’s off ice, w ith the national assembly midway between the two seats of gover nment power A recent i nt roduct ion to his off ice is a large telev ision w ith split screens show ing stock market prices, econom ic i nd icators, and Bloomberg TV.

Aurangzeb was one of the highest paid cor porate leaders in Pakistan before joining the government. Now, in line with other cabinet members, he’s not drawing a salar y. He also renounced his Dutch citizenship to become eligible for the post.

W hat he describes as “national ser vice” will mean reaching tough decisions under the toughest IMF program in years if he and Sharif are to bring the economy back from the brink. These include putting a stop

declined

to accumulating more state losses by raising energy prices and selling state-owned companies, unpopular choices that will inevitably trigger pushback from powerful business lobbies and stoke public anger—a chief reason they’ve been avoided to date.

Aur angzeb w i ll approac h t he challenge as a political outsider He is not part of Sharif’s political party, and was appointed in a technocratic capacity. Sharif leads a shaky coalition whose two main allies have said they will support the government on a case-by-case basis only.

Fresh face

THERE have already been attempts to contain Aurangzeb’s role. Sharif decided to chair the Economic Coordination Committee, a top policymaking forum that is usually headed by the finance minister, before backtracking a day later after public criticism.

Foreign Minister Ishaq Dar—a veteran politician who ser ved four separate stints as f inance minister unti l he was shunted sideways by Sharif—has been installed as head of a privatization committee that wou ld nor mally have been led by Aurangzeb or the minister for privatization.

W i t h m i n i ste r s r o u t i nely swapped out and back i n aga i n, his is the f irst fresh face at the f inance ministr y in si x years. Finance ministers are reg u larly blamed for Pakistan’s economic woes, and there have been more than 10 in the past decade; Sharif had two in his prev ious 16-month tenure. Aurangzeb is clear that his key challenge is the economy and not politics. For all his cor porate experience, he says he’s focused on Pakistan’s future rather than dwelling on his past achievements. “You have to push yourself,” he said. “You have to get out of your comfort zone.” With assistance from Chanyaporn Chanjaroen /Bloomberg

opened Exerc ise Salaknib at t he 1st Brigade Combat Team (1BCT) Headquarters in Fort Magsaysay, Nueva Ec ija on Apri l 8. Salaknib Phase 1, whic h w i ll conclude on Apri l 21, is an A r myto-A r my training between the PA and USAR PAC. It w i ll include a rou nd 1,800 personnel f rom PA’s 5t h and 7t h Infantr y Div isions and Specialty Enabler u nits and 1,700 US serv icemen f rom t he 3rd Infant r y Brigade Combat Team, 25t h Infant r y Div ision, Usa rPAC.

Filipino and American ground t roops w i ll t ra in side by side in Fort Magsaysay and other venues in Cent ral Lu zon and Nor t her n Lu zon. Salaknib first phase will precede Exercise Balikatan, which is slated at the end of the month, while Salaknib Phase 2 is scheduled for the third quarter of the year

Salaknib (which means shield in Ilocano) is an annu al A r myto-A r my exe r c i se gea r ed at st rengt hen i ng t he i nte rope rabi l ity of Fi l ipino and American g rou nd forces in a spect ru m of m i l ita r y operat ions.

In the opening session of the fourday Asia and the Pacific Food Security Forum on Tuesday, IFAD Strategy and Knowledge Department Associate Vice President Jotsna Puri said nutrition and health only account for 9 percent of the total ODA received to invest in food systems. Puri said helping boost nutrition and healt h resu lts means investing in spec if ic effor ts to develop local food ma rkets t hat w i ll not only ensure affordabi l ity but access for more people in t he reg ion. She st ressed t hat improv ing food sec urity is not always about money, but how t he money is used.

“If you look at t he data t hat we a re produc ing t hrough impact assessments as well...yes, we a re able to develop t hese ag ric u lt ural value c ha ins, t hat we a re able to prov ide and del i ve r resources to smallholder fa r mers who a re responsible for approx imately one-t hird of t he

overall food t hat we produce, t hat we consu me but nut rit ion patter ns i n t hese ta r geted a reas a re not c hang ing d ramat ically,” Puri sa id. “Nutrit ion patter ns a re st i ll, not sur prisingly, ver y dependent on access to ma rkets and a re becom ing less d iversif ied in t hese a reas u nless we pay attent ion to developing local ma rkets,” she added.

Apar t from nutrition and health investments in food systems, Puri sa id, also include soc i al assistance whic h accou nts for 31 percent; agric u lt ural development and value c ha ins, 26 percent; cl imate c hange and nat ural resources, 18 percent; and inf rast ruct ure and food systems, 16 percent. Puri said IFAD data showed ODA invested in food systems have increased over t ime, by about 10 percent to $44. 3 bi ll ion in 2021 f rom $40. 3 bi ll ion in 2018. W hi le t he ODA for food systems was higher at $48.7 bi ll ion in 2020, t he investments have generally increased be-

tween 2018 and 2021. “W hat we’re recognizing is that clearly it’s very important to track and understand how we can measure and how we can tag these. My last point here is to really nudge the multilateral and the international system into measuring our impact [and] where we are losing that [impact],” Puri said.

Access to healthy diets IN his speec h, ADB President Masatsug u Asakawa sa id nea rly 2 bi ll ion people in Asi a st ruggle w it h access to healt hy d iets due to high costs. He added t hat over half of t hose affected by hu nger globally l ive in Asi a. “Hav ing enough nut rit ious food to eat is somet hing many of us take for g ranted. But imag ine you a re a pa rent w it hout t he means to buy protein or vegetables for your fami ly,” Asakawa sa id. You can only feed your c hi ld ren g ra ins or have no ot her c hoice but to sk ip meals for yourself. R ice prices soa red more t han 40 percent in 2023, erod ing your purc hasing power and t hat of so many ot her poor fam i l ies in Asi a,” he added. Asakawa said food security also faces climate change threats that cause nature

By Lenie Lectura @llectura

THEEnergy Regulatory Commission (ERC) has referred three cases to the Philippine Competition Commission (PCC) for validation of possible violations of the Philippine Competition Act.

DBy VG Cabuag @villygc

IGIPLUS Interactive Cor p. is targeting to boost both its onsite and online presence, as it will put up more for games like bingo whi le increasing its online presence by bringing in new games.

“This is part of our brand building. So BingoPlus will become this entertainment hub for the locals. So people recognize our name, and can play either on site or online, become more like entertainment,” Andy Tsui

SHOWCASING t he st rengt hening and continued improvement of the transmission network in the Visayas, the National Grid Cor poration of the Philippines (NGCP) held a simultaneous ceremonial energization and inauguration of its newly completed Cebu-NegrosPanay (CNP) 230-kiloVolt (kV) Backbone on April 8, in the provinces of Iloilo, Negros Occidental, and Cebu The event was held simultaneously at NGCP’s Bacolod Substation in Neg ros Occidental, led by His Excellency President Ferdinand R. Marcos Jr., NGCP ’s Barotac Viejo Substation in Iloilo, and Magdugo Substation in Cebu with key national and local government officials also in attendance.

“T hi s monu mental m i lestone represents a significant step towards ensuring a stable transmission grid in the Philippines, and we are honored to lead and witness its completion. NGCP has consistently worked towards meeting its commitment to provide a reliable electricity infrastructure for the nation, and the CNP is a testament to our dedication to enhancing the power transmission capabilities of our countr y,” the company said.

T he Cebu-Neg ros-Panay Backbone which also include the Negros-Panay Interconnection Project Line 2, is

K in Ming, DigiPlus president, said. For starters, the company recently spruced up its website, digiplus.com. ph, as well as its branding initiatives by tapping brand consultant Landor to re-create the company’s logo.

“This shift in perspective sets the foundation for an exciting and transformative path ahead. DigiPlus is now positioned as a pioneering gamechanger within the industr y, leading the way in reimagining new and wonderful possibilities,” Tsui said. “As seen on its updated website, Dig iPlus’s new cor porate identity

discuss it publicly.

We have our own set of questions, our own preliminar y findings. We referred them to PCC for their validation also because they have purely competition lenses and they have more data, more means of analysis to understand behavior I cannot disclose more,” Dimalanta said.

PCC Chair person Michael Aguinaldo had said that the renewed collaboration between the ERC and the

PCC marks a significant milestone towards fostering a more competitive power industry, drawing on their combined expertise and investigative resources.

“The PCC, responsible for enforcing the Philippine Competition Act, looks for ward to a more efficient and expeditious investigation into possible violations of the law for the benefit of consumers,” Aguinaldo said. Dimalanta said the broader exper tise of t he PCC on rev iew ing arrangements and behavior with a competition lens complements the energy industr y-focus of the ERC. “T he ERC f ir mly bel ieves t h at, to protect t he consu mers, we cannot afford to go at t his alone. T his synergy allows our respective agenc ies to better f u lf i ll our mandates and ser ve t he Fi l ipi no publ ic,” Dimalanta added.

ivered by its flagship brand Joll ibee. Smashburger w i ll del iver t he burgers, Coffee Bean and Tea Leaf Co. w i ll supply coffee and tea whi le Ti m Ho Wan and Yonghe K i ng w i ll prov ide t he C

draws inspiration from the emotions evoked by entertainment, portraying DigiPlus as a portal to a world of possibilities through its immersive experiences.”

Tsui said Digiplus plans to add non-gaming elements in its website such as movies, sports channel that stream live content, “so people when t hey t hink about enter ta inment, they will think about Bingo plus.”

DigiPlus currently owns 140 bingo sites across the countr y. It also operates online games like BingoPlus, the dig ital spor tsbook A renaPlus and Per yaGame which mirrors the traditional carnival experience by offering a wide selection of games that involve colors, cards and numbers.

circuit kilometers of submarine cables with 10 new substations and the expansion of 2 existing major substations.

W hile certified as an Energy Project of National Significance (EPNS) in 2019, the project still encountered various difficulties particularly on right-of-way issues due to opposition of landowners, long and tedious judicial processes, protracted permitting processes by local government units, unreasonable demands and threats from a particular barangay official, security issues in certain areas in Negros, and the COVID-19 pandemic in 2020. In September 2023, the Cebu-Magdugo 230kV line was also the subject of a Temporar y Restraining Order (TRO) issued by the Supreme Court. “Despite the various challenges surrounding the completion of the CNP NGCP ’s commitment to de-

The dedication of our personnel who worked despite security threats, inclement weather condi-

tions and difficult terrain, and the support of concerned government agencies that assisted us were instrumental in driving this project for ward,” said NGCP

The project was filed for approval with the Energy Regulatory Commission (ERC) in four stages as early as 2013 The CNP Stage 3 was filed in 2016 with a project cost of P43.41 billion. However the ERC granted a provisional approval for only one year’s worth of capital expenditure amounting to P176.75 Million in 2017 and has yet to issue a final approval. The total cost of the entire CNP backbone project as filed with the ERC, amounts to P67.98 Billion.

Line 2 of the Negros-Panay Interconnection Project is still pending approval by ERC. “W hile the CNP will help improve the deliver y of power this is not the sole or primar y solution to the woes of power consumers, particularly in Panay. Sufficient power generation supported by reliable transmission is the formula for optimized energy development.

DTI Occ. Mindoro facilitates consultations on export readiness of local tuna traders

the major global exporters of tuna, particularly Yellowfin which is an abundant species in Mindoro Strait.

T he activ ity highlights the actions necessar y to further support the industr y:

1. Aspiring exporters shall study the actual market demand of Asian and European countries and establish a database on production capacity that matches this demand.

2.Tuna traders need to comply w ith Fisheries Administrative Order 210, par ticu larly on compliance w ith Sanitation Standard Operating Procedure (SSOP) and Hazard Analysis and Critical Control Points (HACCP).

3 Industr y players shall invest in Post-Har vest Facilities, including cold storage logistics.

4.DTI Occidental Mindoro shall assist aspiring tuna exporters in the province by setting up factual database on production capacity and preparation for HACCP and FDALTO certification.

The government, along with other key industr y players, are looking for ward to the envisioned impact of these initiatives, particularly on establishing a reasonable buying price for local fishermen.

It was noted that the “Philippines Small Scale Yellowf in Tuna Handline Fisher y” of Occidental Mindoro secured the f irst Marine Stewardship Counci l’s (MSC) cer tif ication, which means that these small-scale f isheries in the prov ince are recognized for sustainable f ishing that protects ma ri ne ecosystems and communities (Marine Stewardship Counci l, 2024).

THE Department of Science and Tec h nology-Q u ezon headed by Provincial Director Maria Esperanza E. Jawili led a a two-day workshop titled “Regional Stake Holder Analysis” of the Innovation, Science, and Technology for Accelerating Regional TechnologyBased Development (iSTART) Program recently. Jaw i l i was assi sted by Sydney Mae G. Tad iosa, Sc ience Resea rc h Spec i al i st, alongs ide t he Off ice of t he Prov i nc i al Gover nment of Q uezon. Joi n i ng t hem were Mon i na Talaga, Project Development

Off icer IV and Resea rc h and Stat i st ics D iv i sion Head, representat ive f rom t he Local Gover nment

Un it of L ucena C ity ; Ju l ieta B. Apa ri c i o, Off i ce of M u n i c i pal Plann i ng and Development Coord i nator and representat ives f rom Sout her n Lu zon State Un iversity, Jeffe r son L. Ab ri s, Intellect u al Proper ty Management Spec i al i st and Gie hway R. L iwanag, Sc ience Resea rc h Assi stant.

The workshop was conducted by DOST-Calabarzon, in partnership with the UPLB Department of Community and Environmental Resource Planning (DCERP).

It was meant to obtain insights into the Science, Technology, and Innovat ion (STI) landscape and key concer ns of the par ticipating stakeholders. T he prog ram covered t he needs ident if icat ion and assessment, including an analysis of problems and prog rams about STI initiatives; as well as data gathering for Innovation Ecosystem Mapping aimed to enhance the understanding of the reg ion’s innovation landscape.

a follow-up, participants were tasked with completing Knowledge, Attitudes, Practices, and Media Preferences Assessment of Stakeholders (KAP) and Social Network Analysis (SNA) sur vey forms. These sur veys w ill prov ide valuable insights for refining ongoing project plans and understanding the dynamics of the innovation ecosystem.

the unwritten agreement takes into effect—that you are now their role model so they too can become successful like you Apparently, they saw who you are and where you currently are as a beacon of where their individual success journeys should be. Be conscious therefore of how you conduct both your personal and busi-

ness life, for they obser ve you and will usually choose to follow most of what you do. No matter what, always strive to become trustworthy and a person with integrity. Training your team. Once they’re part of your team, you now have the sacred duty of lifting their lids. You need to train them so they too can achieve their optimum potential. Most will definitely join your team already armed with distinct skills and various other strengths. However it is up to you expose them to programs that will further enhance their game. The best way to approach this is to strengthen the areas of their strengths and help manage the areas of their weakness. You may also want to check ARCH Styles (a personality & behavioral assessment and discover y tool). Staying with your team. This one

is all about loyalty. As a leader, you must always endeavor to stay with your team, where the action usually is. And please make sure that no one is left behind. Sales Leaders, especially in the insurance and networking industries have this propensity to shift loyalties from one organization to another I don’t find fault in that. However, what I find appalling is when they treat their team or network as a commodity to bargain with Unless this is the strategy from the beginning, and ever yone in the team knows exactly what’s expected of them during such transitions, then I guess that’s acceptable too. But if people are used as bargaining chips, for me it’s like gambling the ver y hopes and aspirations that they entrusted you the moment they joined your team. You see, others may not be able to move

with you due mainly to financial constraints, and will be left behind without a mentor to guide them forward. Stay with your team or make sure you don’t leave anyone behind. Passing the baton of leadership. Finally, be mindful of succession planning. W hile we do not wish to talk about retiring as Sales Leaders, eventually that becomes inevitable. And that’s why you need to pass the baton. In fact, the ver y reason that you are showing people the right example, training them to reach the top, and staying with them especially during tough times, is to prepare them for succession. Yet preparing people for succession is actually the easy part. For most Sales Leaders, it’s the passing of the baton that’s difficult because you feel that you ’ re losing a certain degree of power over the business and influence with the people, not to mention the income that goes with it. But

mative endeavors of the MSSD since it was established in 2019. “We want to promote the culture and mindset that we should always continuously seek knowledge and find ways of enhancing our skills in the lifelong journey of making ourselves the best version there is,” she said.

Jajurie sa id she hoped ot he r Bangsamoro off ices and agencies would have their own programs to uplift the lives “of the marginalized, vulnerable, and disadvantaged sectors and alleviating poverty in the autonomous region.”

MSSD Bangsamoro D irectorGeneral Mohammad Muktadir Estrella sa id ILMO high l ights t he efficient deliver y of social ser vices through technology, enhances transparency and accountability, provides vast informational resources, creates a space for feedback to expand and grow, and shares success stories of the Bangsamoro people.”

“It underscores the online management system as a bridge connecting people globally, benefiting the Bangsamoro people and other development partners by offering convenient educational references about MSSD’s inter ventions,” Jamal Ali, chief of the Planning and Development Division, added.

transfor-

By Reine Juvierre Alberto

ABOUT 83.2 percent of the P5.767-trillion national budget for 2024 has been released as of end-March, according to the Department of Budget and Management (DBM).

This, the DBM noted, is inclusive of the P10-billion allotment directly released to the spending agencies for the implementation of the R ice Competitiveness Enhancement Program under the R ice Liberalization Act.

Fur t her more, 47.8

According to the budget department’s status of allotment release, the DBM has released a total of P4.798 trillion of the budget allocated for this year The release rate as of end-March has increased by 5.3 percent from the 77.9 percent recorded as of end-Februar y. Based on DBM’s latest data, a total of P969 billion, or 16.8 percent, of the national budget remains undistributed. Broken down, the bulk of the budget disbursements under the FY 2024 General Appropriations Act (GAA), or Republic Act (RA) 11975, were for the national government’s operations and automatic appropriations. The latter was allocated P4.009 trillion of which 89.4 percent or P3.586 trillion has been released from the previous month ’s 87.6 percent. The bulk of the releases, or 95.9 percent, has been allocated for the various gover nment departments with a total of P3 358 trillion as of end-March

briefs

FWD zooms up in NBAPE ranking

A total of P227.417 billion, or 44.8 percent, has been allocated for Special Pur pose Funds; in Februar y it was only at 32.6 percent. Meanwhile, a total of P423.623 billion of the 2024 GAA is yet to be released. Accord ing to t he DBM, about

FWD Life Insurance Corp. (FWD PHL) dislodged Allianz PNB Life Insurance Inc. as the third-largest insurer in terms of New Business Annual Premium Equivalent (NBAPE) with P4.59 billion in total sales last year. As shown in the Insurance Commission’s (IC) full-year 2023 report, the insurer climbs from sixth rank in 2022 to third in just one year in terms of NBAPE, a global standard adopted by the IC that gauges industry’s sales performance in a specific year by summing the payment methods used sector-wide—regular and single premiums. The insurer’s total NBAPE climbed 39.07 percent from P3.30 billion, tracking the industry’s 9.8-percent increase in NBAPE last year to P47.9 billion from P43.6 billion in 2022. Roderick L. Abad

Bitcoin seen below $20,000 in survey

CONSUMERS are divided over Bitcoin’s staying power, with about onethird expecting the world’s largest cryptocurrency to slide below $20,000 by the end of the year, according to a survey by Deutsche Bank. That would slice approximately $50,000 off the token’s current price and take it back to levels last seen during a deep bear market in 2022. Just 10 percent of over 3,600 people surveyed saw Bitcoin above $75,000 by the end of December. Some 40 percent of respondents were confident about Bitcoin thriving over the next few years but 38 percent expected it to disappear. At the same time, less than 1 percent considered crypto a fad, the survey conducted over March showed. Bloomberg News

Unacash rolls out installment loans

DIGIDO Finance Corp., operator of the Unacash app, announced the roll out of its installment loans service amounting from P3,000 to P5,000, with flexible repayment terms between two months to 12 months. UnaCash

President Aleksei Kosenko said the installment loans enhances the firm’s current ‘buy now, pay later’ service that has since been upgraded to offer point-of-sale (POS) loans. Moreover, installment loans are being offered to existing customers with outstanding credit history with the UnaCash app. Kosenko was quoted in a statement as saying the firm “recognizes the increasing demand in the Philippine market for access to formal credit. We initially addressed this need with the introduction of POS loans in our platform in July 2023. With the launch of installment loans, we aim to cater to more individuals with strong credit profiles.” Rizal Raoul Reyes

billion for Januar y and Februar y this year The DBM is yet to release a total of P548.423 billion this year for interest payments. Moreover the DBM has also released a total of P31.851 billion or 87.3 percent for Special Account in the General Fund under the automatic appropriations.

IN 2023 the Department of Trade and Industr y (DTI) and its attached agency, the Board of Investments (BOI), held a conference for members of the Chinese Enterprises Philippine Association (CEPA) who wanted to leverage on the numerous prospects that the countr y has to offer The BOI conducted the Philippine Investment Opportunities Briefing for CEPA at the New World Hotel Makati last June.

T he conference was organized in pa r tnership w it h t he DTI’s Foreign Trade Ser v ice Cor ps and t he Bank of C hi na (BOC) Man i la Branc h It ma rked t he act ivat ion of t he BOI-BOC memorandu m of u nderstand ing on investment promotion signed in Beijing last Janu a r y 2023 at t he sidel i nes of t he president i al v isit to C hi na.

Si nce t hen, more and more C hinese enter prises h ave been eyei ng t he Phi l ippi nes as a pri me hub for t heir i nvestments. CEPA President Hu X i nqui an, who is also t he BOC

Cou nt r y Head for t he Phi l ippi nes, led t he delegat ion of 70 C hi nese bu si ness exec ut ives who a re engaged i n t he f i nance, telecom, energy, ag ric u lt ure, manu fact uri ng, eng i neeri ng, and const ruct ion i ndu st ries.

Last mont h, t he CEPA hosted t he 135t h Canton Fa ir Roadshow at t he Seda Hotel BGC i n Tag uig

President James Bullard said three reductions remain “the base case.” For Mohit Kumar strategist and chief economist for Europe at Jefferies, the more important discussion should be over how the Fed would respond to any signs that resilience in the American economy is faltering. “The right question is whether the Fed is willing to cut rates if there is any sign of weakness,” Kumar wrote in a note to clients. “And on that we are reasonably confident that if the economy weakens, we will see easing from the Fed which would support risk sentiment.”

The dollar was little changed, with the yen hovering around the closely watched 152 level that many say will trigger Japanese authorities to act. Elsewhere, oi l traded near a f ivemonth high as investors weighed simmering tensions in the Middle East and persistent supply concer ns. Israel said prog ress has been made in negotiations for a cease-f ire in Gaza, signaling a potential easing of hosti lities, but Hamas denied the claim.

W hile economists surveyed by Bloomberg expect the consumer price index will

FINEX FREE ENTERPRISE

C ity. To be held i n Gu angzhou C ity on Apri l 15 to May 5 t his yea r t he Canton Fa ir is C hi na’s biggest and longest-ru nn i ng t rade fa ir for i mpor ters and expor ters. Its f irst ed it ion took place i n 1957 and h as since been staged tw ice a yea r—ever y spring and autumn w ithout fai l, even duri ng t he pandem ic when it only went onl i ne i n 2020 and i mmed i ately res u med face-to-face sessions i n 2021.

During t he roadshow, Federation of Fi lipino-Chinese Chambers of Comme rce and Indu st r y Inc. (FFCCCII) President Dr Ceci lio K. Pedro said the Phi lippines shou ld continue to pursue stronger trade ties w ith China despite recent incidents in the West Philippine Sea. He appealed to Fi lipino businessmen not to be deterred by current news headlines that may cast shadows of discord in the bilateral relationship. Ped ro poi nted out t h at over t he past eight yea rs, C hi na h as become the biggest trad ing par tner and sec-

show some cooling in inflation, the core gauge, which excludes food and energy costs, is forecast to be up 3.7 percent from a year earlier—above the Fed’s 2% target.

Marija Veitmane, head of equity markets research at State Street Global, said her firm’s measure of online inflation pointed to a potentially above-consensus read. “We have seen prices in ever y sector we track to grow at higher than average pace in March,” she said.

As for cor porate results, “we continue to worr y about narrowness of earnings, where majority of growth comes from the tech/large-cap stocks, which majority of companies are showing signs of stress,” Veitmane said. “Falling margins are particular concerns as they tend to precede layoffs.”

In individual stock moves Tuesday, BP Plc rose to a five-month high after an update that analysts said showed a strong performance in oil and gas trading. Renault SA advanced after an upgrade from analysts at Barclays Plc. Mining stocks were a bright spot in Europe as iron ore headed for its biggest two-day rally in more than two years. Bloomberg News

Tthe National Treasur y this year of P128.4 million is higher by 72.81 percent, or P54.1 million as a result of the board approval. T he PFDA remitted a total of P74.3 million in dividends last year, equivalent to 50 percent

y through the prov ision of post-har vest infrastructure faci lities and essential ser v ices that improve eff iciency in the handling and distribution of f ish and f isher y products. Despite the increase in dividends rem ittance, PFDA’s management assured board members that operations of the government cor poration would not be affected given the “strong performance” of its various units, whose collection rate exceeds 90 percent, it added.

Under the Republic Act 7656 (Dividends Law of 1994), all GOCCs are mandated to remit at least 50 percent of their annual net earnings to the national government.

In 2023 the Privatization and Cor porate Affairs Group under the DOF collected a total of P99.98 billion in dividends from 51 GOCCs. Reine Juvierre Alberto

ond la rgest expor t ma rket of t he Phi l ippi nes. He bel ieves t h at “t he pat h to peace and prosperity l ies i n the steadfast economic cooperation between our two cou nt ries” and t herefore encouraged Phi l ippi ne f ir ms to joi n t he Canton Fa ir, t he success of which “not only promises to i nv igorate econom ic prog ress ac ross our Asi an reg ion, but also ser ves as a cor nerstone for reg ional stabi l ity and cooperat ion.”

DTI Unde r sec reta r y Cefe ri no S. Rodolfo was i n ag reement w it h Ped ro t h at “pol it ics and econom ics mu st be sepa rated am idst geopol it ical tensions.” He d isclosed t h at Gu angdong Prov i nce, whic h is t he site of the semi-annual Canton Fair has emerged as t he Phi l ippines’ top t rad i ng pa r tner among all C hi nese prov i nces—accou nt i ng for almost 25 percent of total t rade between our two cou nt ries, whic h reac hed almost $40 bi ll ion i n 2023 Rodolfo is concurrently the head of t he DTI’s Indust r y Development and Investment Promotions Group.

He also bel ieves t h at “t rade is a potent force for peace” and the par ticipat ion of Fi l ipi no ent repreneurs i n t he Canton Fa ir w i ll not only be to tap i nto sourc i ng or expor t opport u n it ies and to benc hma rk global best pract ices, but wou ld l i kew ise encourage C hi nese compan ies to i nvest i n t he Phi l ippi nes.

Dugong Tsino, Pusong Pinoy

THAT is t he t itle of t he f irst-ever Engl ish-lang u age coffee table book p u bl i s hed by t he FFCCCII. T he 150-page volu me celebr ates t he f irst seven decades of t he cou nt r y’s foremost Chinoy organization composed of 170 c h apters ac ross t he Phi l ippi nes. Unvei led last mont h at t he FFCCCII headqu a r ters i n Bi nondo, t he world’s oldest C hi natown, t he book c hron icles t he 70-yea r histor y of bu si ness advocac ies, soc ioc iv ic engagements, phi lant hropic pursuits, and econom ic d iplomacy i n it i at ives as a testament to t he Fi l ipino-C hinese business commun ity’s ext raord i na r y jour ney. Accord i ng to t he book’s ed itori al, “Dugong Tsino, Pusong Pinoy” i s more t h an

Joseph Araneta Gamboa

Look to hydrating products for healthy skin even in the unforgiving summer heat

Building strengths together

ONE of the most important roles you play as a people manager is to empower everyone in your team to work together toward a collaborates as a team, you get more productivity than the sum of all their individual accomplishments. When divisions and factions emerge within your team, it is crucial to take immediate action to prevent team members from conspiring against each other in an attempt to gain advantage over their colleagues. Failure to address it now will result in a more severe problem down the line.

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Collaboration is more than just a buzzword in the teamwork and organizational success. When you empower your team through collaboration, you create synergy where individuals can leverage their collective strengths to achieve common goals. As a leader, you need to develop strategies in fostering a collaborative culture where everyone understands what they must do to achieve the team’s goals.

Collaboration happens when team members work together, and combine their skills, knowledge and resources to achieve shared goals. It involves open communication, mutual respect, and a willingness results. Rather than working in silos, collaborative teams thrive on synergy, innovation and collective problem-solving.

When team members collaborate, they bring new ideas to the table, igniting creativity and innovation. Everyone is welcome to provide their perspective to understand the issues better and feed Collaborative teams tackle complex challenges more viewpoints, thereby making it easier to develop foster a sense of belonging and purpose among team members, leading to higher engagement and motivation. When team members believe they are equally contributing to the team’s success, it fosters a sense of shared ownership of results, which in turn promotes accountability and commitment.

One way to foster collaboration is to create a workplace culture that values collaboration through open communication, teamwork and mutual respect.

Encourage sharing of ideas and constructive feedback,

Your team needs to understand that what they do

Ensure that each team member understands their

assign responsibilities based on individual strengths. You need to know what everyone in your team can do and what they need to improve on so that projects are same time provide opportunities for them to work on their weaknesses. Understanding what motivates your team is essential so that you can guide them

Break down group barriers and encourage

approach fosters a broader perspective and enables the sharing of specialized knowledge and skills by taking advantage of other team’s specialties. Cross functional collaborations also helps your team see for themselves that other groups are as valuable to the organization as theirs, and helps them reach out to other teams to develop partnerships. When your team sees and appreciates what other teams can do, it makes them more open to working with other groups in the organization as well.

available in the market, use tools that encourage communication and seamless sharing of information. Project management apps, instant messaging, and cloud-based platforms can enhance teamwork and productivity by helping your team have visibility on the team’s projects, and at the same time helping your team communicate with each other quickly even if some members are working remotely.

team, invest in training programs that develop

leader, you set the example of how it is to collaborate with others by communicating well especially when to get rattled by new developments or foment factions within your team, you cannot expect your team to work closely with one another.

As the leader, demonstrate a collaborative mindset by actively participating in team discussions, seeking input from others, and valuing diverse perspectives. Show your team that collaboration is a priority by integrating it into your leadership style. Promote a culture of continuous improvement by encouraging experimentation and learning from both successes and failures. Encourage team members to take calculated risks and share insights gained from their experiences.

Empowering your team through collaboration performance, innovation and job satisfaction. By fostering a collaborative culture and providing the necessary support and resources, you enable your team to leverage collective strengths and achieve extraordinary results. Embrace collaboration as a fundamental value within your team, and watch success together. Empower through collaboration— because together, your team is stronger.

A natural deception: 3 marketing myths the supplement industry wants you to swallow

George Washington University

AMERICANS seem to have quite a positive view of dietary supplements. According to a 2023 survey, 74 percent of US adults take vitamins, prebiotics and the like.

all the hype around them, it’s easy to forget what they body and your health, yet aren’t regulated like drugs

Drug Administration is essentially toothless when it comes to supplements. As the agency acknowledges: “FDA does not have the authority to approve dietary supplements before they are marketed. Companies can sell supplements without going through any sort of approval process, or even having to share safety evidence.”

As a research faculty member in graduate medical education, I’m responsible for teaching resident physicians how to understand and critically engage with health research. I also write about health, wellnessand supplements for a broader audience. As a result, I spend a lot of time thinking about supplements.

It’s important to consider why so many people believe supplements can help them lead a healthier life. While there are many reasons, how supplements are marketed is undeniably an important one. In my years following the industry, I’ve found that three mistaken assumptions appear over and over in supplement marketing.

nature fallacy occurs when you assume that because natural is used a lot in the marketing of supplements.

natural medicine, remedies, prevention techniques and so forth.

For example, if I say “vitamin C,” what do you

companies. One of these is clinically proven to those same things, but there’s no clinical evidence to support this.

names that incorporate the word “nature,” invoking the appeal to nature fallacy. Also, look at websites and advertisements that urge customers to forgo

supplement is intended to make you feel like that product will be superior to the competition and that you need it to be healthy.

but that’s what the marketing wants you to think.

piggybacks on the appeal to nature fallacy: If something is natural, it must be good, and more of it must also always be better. If a little vitamin C is good for us, then a lot of it must be great!

levels of the vitamins and minerals we consume. If particular vitamin or mineral through a supplement

supplement

skeptics sometimes say, “You’re just paying for expensive pee”—since your body will

excrete the excess.

For an example of the more-is-better myth, look at

at vitamin D supplements that can come in dosages prominently displayed on packaging. But adults should have no more than 4,000 IU daily. Again, it’s easy to exceed what we need.

Finally, the supplement industry likes to capitalize on the idea that doing

have more control of a situation, which is especially powerful when it comes to health. “Even if I don’t need the extra vitamin C,” they might think, “I’ll take it just recommended daily intake of a particular vitamin or those particular substances is safe.

much vitamin C can lead to diarrhea, nausea, stomach conditions including nausea, vomiting and kidney stones. Supplements can also interact with prescribed medications. For example, St. John’s wort is famous for interacting with contraceptives, immunosuppressive drugs, statins and chemotherapy by exacerbating or taking them isn’t necessarily better than not.

Be on the lookout for these marketing messages— they aren’t necessarily correct or good for your health. And talk with your doctor before taking any supplements. THE CONVERSATION

French skincare brand Isispharma

Dermatologie launched in the PHL

cat io ns at I s i s p ha r ma De r mat olo g i e says “For ov e r 3 0 yea r s , w e ha v e been study i ng the sk i n s natu r a mechan i sms and i mba ances t o pr ese rv e and r est or e i ts h o me o stas s thanks t o effect iv e s ol ut io ns that r es p ect y o u r sk i n We a r e v e r y pl eased n o u r p a r tne r sh ip wi th Ni kk i Tang and D M a r k B eauty w h i ch makes o u r wi de r ange o f p atented techn olo gy and sk nca r e s ol ut io ns access i b l e t o Filipi n o s .” Ni kk T ang C EO o f D M a r k B eauty says “ We a r e de li ghted at D M a r k B eauty t o b ri ng s i s p ha r ma t o the P h ilippi nes as p a r t o f o u r b r ands ’ oi nt c o mm tment t o access b l e c oll ab or at iv e t r ans p a r ent and effect iv e sk i nca

makes them an ideal partner to showcase our iconic brands to music enthusiasts across the country.” Jose Mari L. Yupangco, President of Y EC, shared similar enthusiasm about representing Harman Professional’s retail brands: “We are excited to represent HARMAN Professional’s range of highly esteemed brand names and legendary models in our lineup. The JBL, AKG, DBX, and Soundcraft brands are all beloved and respected for their world-class quality, offering highquality audio equipment ideal for our stores and client mix.”

Customers can find HARMAN’s professional products at Yupangco flagship stores located at the Yupangco Building, 399 Gil Puyat Avenue, in Makati City, as well as at Perfect Pitch Stores and authorized dealer outlets nationwide. IN

AGILA BASKETBALL LEAGUE. The Fraternal Order

Secretary General Allan Corpuz, Vice President for Mindanao Soliven Teo, National President Ronald De Los Santos, Sports Commission Chairman Benelou “Kuya Lad” Agustin, Board of Trustees JM Llames, Deputy ABL Commissioner Norman Ofalsa, and Procurement Head Gil Tonog. Standing from from left are Bullet Campos, Vice Chairman for Luzon Boyet Agomaa, Chief of Staff Jose Luis Granados, Special Sports Events Head Art Trinidad, CSR Head Avel Alcalde, Hand

PropertyGuru promotes ESG in SEA

By Rizal Raoul S. Reyes @brownindio

THERE is still a great need to promote environment, social, and governance (ESG) as part of promoting sustainability and green development in Southeast Asia.

Jules Kay, general manager of PropertyGuru Asia Property Awards and Event said a lot of developers have to accept ESG as part of their green development agenda.

“But we wanted to really zone in more meticulously on environment, social, and governance [ESG] because there’s a lot of talk about ESG [but] not necessarily anybody really understands what it is, in some respects. And what we’ve done now is we’ve worked with a couple of ESG partners. Green Building Council, being one of them, is to set new criteria and to split ESG into more measurable chunks right,” said Kay in a recent press briefing during the return of the PropertyGuru Philippines Property Awards for its highly anticipated 2024 edition held at the Bonifacio Global City. Aside from sustainable design, Kay said the group will also give an award for energy efficiency because a lot of developers are focusing not only in terms of LED lighting on the solar panel, but actually right from the beginning through the entire process of development.

PropertyGuru Group, Southeast Asia’s leading property technology company recently launched the 12th Annual PropertyGuru Philippines Property Awards will be held September 6, 2024 at Shangri-La The Fort, Manila. Submissions from the industry and the public are now accepted via asiapropertyawards.com/nominations until June 14, 2024.

The 2024 edition will honor developers across numerous specializations and locations, alongside recognitions for their operational portfolios and impact in terms of ESG. The award categories also recognise achievements in various aspects of development and design, and pay tribute to established and up-andcoming individuals for their contributions to the industry.

An independent panel of experts, representing various segments of the property sector, will conduct a fully transparent judging process, culminating in the selection of shortlisted nominees and announcement of winners. The entire process will be conducted with utmost professionalism and integrity under the

SM CATERS TO GROWING RESIDENTIAL NEEDS IN THE REGIONS

supervision of HLB, the global network of independent advisory and accounting firms.

Cyndy Tan Jarabata, chairperson of the independent panel of judges and president of TAJARA Leisure and Hospitality Group Inc., stressed the key role of the Property Guru Philippines in transforming the industry into a dynamic force in the economy.

“….In 2024, we look forward to informing investors, developers and consumers, especially Filipinos around the world, about the rising quality of real estate in the Philippines, including its luxury and affordable residences ; world-class hotels

and resorts; experiential retail and F&B hubs; well-equipped industrial spaces ; and master-planned estates. Along with the return of tourists, expatriates, and foreign enterprises to the country, the domestic Philippine market has demonstrated a readiness to live, work, thrive, and build wealth in these impressive built spaces. The Philippines’ finest real estate clearly has the best interests of the people in mind and deserves the widely respected, trusted platform provided by the Awards,” she said.

The PropertyGuru Philippines Property Awards are part of the regional PropertyGuru Asia Property Awards series, which

marks its 19th year in 2024. The Awards series covers key markets across the region, spanning Southeast Asia, East Asia, South Asia, and Oceania, with exclusive gala dinners and awards ceremonies that represent the most anticipated property events of the year.

Organized by PropertyGuru Group, the 12th PropertyGuru Philippines Property Awards are supported by platinum sponsor Kohler ; gold sponsor Boysen Paints; silver sponsor Dongpeng Ceramic ; official magazine Property Report by PropertyGuru ; official publicity partner Ripple8; and official supervisor HLB.

Esteemed partners and supporters

KAY joined Jarabata at the launch event, along with a lineup of esteemed speakers that included John Richard Sotelo, senior vice president and general manager of RLC Residences and chief marketing officer of Robinsons Land ; Kamille Abapo, senior marketing manager of Kohler Philippines, platinum sponsor of the Awards; and Lloyd T. Tan, partner with Diaz Murillo Dalupan and Company-HLB Philippines, the official supervisor of the Awards.

Key dates for the 2024 edition:

14 June 2024—Entries close

1 July - 9 August 2024—Site Inspections

12 August 2024—Final Judging

6 September 2024—Gala Dinner and Awards Ceremony in Manila, Philippines

13 December 2024—Regional Grand Final Gala Presentation in Bangkok, Thailand.

TBy Roderick L. Abad

HE government’s economic development team has appealed for the realestate industry’s continued investment to help achieve the administration’s economic and housing agenda.

Rising from the aftermath of the Covid-19 crisis, the Philippines became the fastest-growing economy in Southeast Asia in 2023 with a 5.6-percent annualized gross domestic product (GDP) growth—slightly below the government’s 6.0 percent to 7.0 percent target.

“Following a period of pandemic-induced downturn, market expectations have now rebounded with much strength and vigor,” Department of Finance (DOF) Undersecretary Maria Edita Z. Tan said during the Chamber of Real Estate & Builders’ Associations Inc.’s (Creba) induction of national directors and officers and second general membership meeting held recently in Makati City.

“We believe that this upward growth in our economy will continue over to 2024. As the government continues to control inflation, we hope to bring about an even better Philippine growth number for you in 2024,” added Secretary Frederick D. Go, special assistant to the President on investment and economic affairs.

Doing so, he rallied their constant support and cooperation to several landmark legislations and programs that the leadership of President Ferdinand “Bongbong” R. Marcos Jr. has taken to make the Philippines the preferred destination of choice among local and foreign investors.

Key legislative measures

ONE of the major policies under the current administration with direct or indirect impact on the real estate industry is the Executive Order (EO) 32, which simplifies the permitting process for the construction of telecommunications and internet infrastructure nationwide.

The benefits of this being the faster rollout of digital infrastructure, improving network performance, and increasing internet access for Filipinos will redound also to speedy enforcement of various real estate development projects, such as residential and office buildings, that necessitate reliable and stable connectivity.

The New Public-Private Partnership

(PPP) Code, or RA No. 11966, was signed into law last December, updating the 29-yearold Built-Operate-Transfer (BOT) law. Its implementing rules and regulations (IRR) were signed last March 21, and it will take effect on April 6. “We believe that this is critical to promote the best ideas come forward for the delivery of high quality and cost effective infrastructure projects,” Go said. “We assure you that the IRR will encourage private sector investments. And the best part is there is enough flexibility in the law to allow the IRR to adopt to the changing times.”

The privatization of the Manila International Airport, which is projected to raise more than P950 billion in revenues for the government over the concession period and increase the annual airport capacity from 35 million to 62 million passengers, serves as the government’s prompt answer to the perennial clamor for an improved aviation facility in the country to save it from the notoriety of having the worst of its kind in the world.

With an enhanced gateway to the country, more business locators will be enticed to move their factories or business operations to the country, thus taking up industrial and office spaces in economic zones and central business districts.

Last, but not the least, is the “BuildBetter-More” program, which has 185 infrastructure flagship projects worth over P9 trillion.

“I encourage you to take a look at them because these infrastructure projects are highly related to real estate, and you might find some of them interesting,” said the secretary.

While the administration has made significant strides in creating a conducive environment for investments, he pointed out that “there’s still much work to be done for the country to be globally competitive.”

To this end, Go’s office is currently spearheading the following programs and reforms, such as House Bill 9794 or the CREATE MORE that resolves issues stemming from the TRAIN Law and CREATE Act that affected foreign direct investors, particularly exporters. On March 18, the Congress passed a plenary version of CREATE MORE.

“[To those who] own industrial parks, you’ll gonna be concerned about this, or if you own office buildings, because BPOs

[business process outsourcers], industrial sector, semiconductors, all of these industrial exporters all need CREATE MORE,” he underscored. “So now it is going up to the Senate, which I have the assurance of the Senate leadership that this will be acted on swiftly as possible.”

Among the seven priority sectors of the government, he urged developers and real-estate stakeholders to partake in the development of the steel industry because being the “builders of buildings, houses and roads” who need a component of steel in almost all of their projects know well how “it is foundational to economic growth.”

“Because of the President’s very successful and hardworking pitch to the rest of the world, the Philippines is open for business. And I hope for your optimism that we are doing a lot to improve the Philippine investment climate, and that all of you will continue to invest in the Philippines in a big, big way,” Go said.

Constant property sector growth

BELIEVING that a period of sustained growth for the real estate sector is on the horizon, Tan called for the industry’s players full cooperation to help make the government’s “Pambansang Pabahay Para sa Pilipino Program” or “4PH” a success.

This is one of the pillars of the administration’s massive flagship housing agenda, which aims to build a total of 6 million housing units by 2028 and generate around 1.7 million jobs every year.

“The 4PH program not only seeks to secure quality, safe and resilient homes for every Filipino, but it is also designed to swing wide open new doors to livelihood opportunities for our people. This way, we ensure that this applies for every Filipino not just for today, but also for tomorrow,” she said.

As the country’s oldest and largest umbrella organization of real estate developers, the DOF undersecretary noted that Creba has a crucial role to play in this endeavor.

“With your dedication and support, we can make significant progress in ensuring that the government fulfills this target. This mission won’t certainly be easy. But by working together in constructing one house at a time, we can build not just homes, but vibrant communities and, ultimately, a strong nation for the Filipino people,” Tan stressed.

Korean teen sets pace in Caliraya

By Aldrin Quinto

CAVINTI, LAGUNA—Princess Superal made her presence felt in her return to the Ladies Philippine Golf Tour (LPGT) with a one-under 71 for a share of the lead with Pamela Mariano on Tuesday in the International Container Terminal Services Inc. (ICTI) Caliraya Springs Championship.

Back after a stint on the Japan Step Up Tour in 2022, Superal was one-over on the outward nine but had two birdies on the way back.

“The greens are firm and tough and you need to place the ball where you can hit a birdie or make a par,” said Superal, who also competed in some Ladies Professional Golfers Association Tour of Japan events. Superal missed par putts inside nine

Beermen target 5-0 start in game vs surging Dyip

SAN MIGUEL Beer goes for a 5-0 start when it squares off with Terrafirma on Wednesday in the Philippine Basketball Association Philippine Cup at the Ninoy Aquino Stadium. The Beermen are expecting the Dyip to come out with a lot of confidence in their 7:30 p.m. showdown after their 91-85

fortunate to find the center of the fairway most of the time.”

CAVINTI, Laguna—Teen pro Kim Tae Soo of South Korea eclipsed the stars on a cloudy opening day of the International Container Terminal Services Inc. (ICTSI) Caliraya Springs Championship with a bogey-free sixunder 66 for a one-stroke lead over Dino Villanueva on Tuesday.

Soo, who has conditional status on the Philippine Golf Tour (PGT) after placing 36th in Qualifying School in Davao, started on the back nine and didn’t get his first birdie until his fifth hole, the par-three No. 14, and got to the turn at three under.

The 19-year-old Kim reached fiveunder through 14 and held on with pars the rest of the way.

As thick clouds obstructed the view of the majestic Mount Banahaw, sporadic morning rain cooled down the early goings at the scenic course along Caliraya Lake.

feet on Nos. 1 and 5 against a birdie on No. 2, but gained a stroke on No. 11 before holing out with another birdie. Mariano was among the late starters on the back nine and had two birdies, suffering his only bogey on the par-5 No. 6 in the P1 million 54-hole championship organized by ICTSI. “I didn’t expect to shoot a 71. My goal is to follow our game plan,” Mariano said. “I’ll just focus on my strength. No expectations but to improve my game each round.”

Harmie Constantino put herself in position for back-to-back titles, sitting alone in third after a 72.

Fifth in the season-opening Apo Golf Classic before zooming to the top in the Palos Verdes Championship, Constantino

well and brimming with

their three losses were kind of tight,” San Miguel Beer coach Jorge Gallent said. “We cannot be overconfident and we would just have to play hard and play our usual game and not be complacent.” With a solid balanced roster led by seven-time season Most Valuable Player June Mar Fajardo, the Beermen are also pouncing behind Commissioner’s Cup

managed to get back to even after bogeys on Nos. 1 and 3 with birdies on Nos. 8 and 15.

Pauline del Rosario, the 2023 winner at Caliraya and back on break from the Epson Tour, shot a 73 and was joined in fourth place by Mafy Singson and Chanelle Avaricio.

Lois Kaye Go was in solo seventh place after a 74, while tied for eight were Apo Golf Classic winner Sarah Ababa and last year’s Match Play cham pion Mikha Fortuna. That highlighted the tournament’s unforgiving nature and the slim mar gins that separate the contenders even as Kim Seoyun, who lost by one to Del Rosario last year, submitted a 76.

But that had little effect as the Arnold Palmer-designed course proved challenging—with the greens unreceptive—and surrendering only 13 subpar rounds.

Seeking his first title on the PGT, Villanueva pulled off a sizzling finish with three birdies in the last five holes for a five-under 67.

Tactical golf paid off for Villanueva, who set a target of evenpar but quickly got to three under. He suffered his lone bogey at the par-5 No. 12 before his late charge.

“Attacking pins was not my plan,” Villanueva said. “I only had some good looks at birdies because I was

Aldrin Quinto

rebounds and 4.0 assists in their first four games.

But Terrafirma, fourth in the standings with a 4-3 record, seeks backto-back wins as they aim to add the Beermen in their list of upset victims.

“We just have to keep playing very well offensively and defensively,” Terrafirma coach Johnedel Cardel.

“Anything can happen in a game.”

“As long as we continue playing as a team, we might get another one,” he added. The face of the Terrafirma franchise, Juami Tiongson, leads the team’s offense with 21.8 points, 5.5 rebounds and 3.7 assists in seven games followed by rookie Stephen Holts with 20.1 points, 8.8 rebounds, 4.6 assists and 2.3 steals in six games. Josef Ramos

FIVB Beach Pro Tour Futures up in Nuvali starting Thursday

WORLD-CLASS action returns at the world-class Nuvali Sand Courts with the staging of the sixth leg of the 2024 FIVB Volleyball World Beach Pro Tour Futures starting tomorrow (Thursday, April 11).

It was only last Sunday when the Philippine National Volleyball Federation (PNVF) capped a fourday Asian Volleyball Confederation Beach Tour Nuvali Open at the Nuvali courts by Ayala Land with Iran and Australia emerging as men’s and women’s champions, respectively.

On Thursday, the elite in beach volleyball would again converge in the City of Santa Rosa for the sixth of the 36 legs calendared by the

FIVB and Volleyball World for the Futures event.

“We expect dozens of teams anew from all over the world to showcase the future global stars of beach volleyball,” said PNVF president Ramon “Tats” Suzara. “The Philippines and Nuvali are now a world beach volleyball destination, marking the country’s significant presence in the sport.”

Teams were expected to arrive starting Tuesday and until Wednesday in time for the preliminary inquiry for the event backed by Smart Communications, Santa Rosa City Mayor Arlene Arcillas, Philippine Sports Commission, Philippine Olympic

“There’s a lot of golf to be played, it will be the same approach,” he said.

“We play conservative.”

Angelo Que and Guido van Der Valk were two strokes back, both netting six birdies but each also suffering three bogeys for 69s, which was matched by Sean Ramos in the P2.5 million championship sponsored by ICTSI and organized by Pilipinas Golf Tournaments Inc.

Putting was key for Ramos, who was in the first group on No. 1 and immediately scored with back-to-back birdies and reached the turn at four under.

Consecutive bogeys from No. 10 held him back but birdied the 17th. “I saved a lot of pars,” Ramos said. “I missed a lot of greens, which are very firm and hard to attack. So I needed to stay patient.”

Aidric Chan, Keanu Jahns and Clyde Mondilla were tied for sixth at 70 in the tournament supported by PGTI official apparel Kampfortis Golf.

Evergreen Frankie Miñoza had three birdies and two bogeys, leading five players bunched in ninth spot at one-under 71.

That group included Rico Depilo, among the early starters on the back nine and promptly took the lead with three straight birdies from No. 10. He nosedived on the homeward nine, however, with three bogeys against a lone birdie.

Also submitting 71s were Eric Gallardo, Francis Morilla and Carlos Packing.

Pre-tournament favorite Tony Lascuña could only muster a 72,

getting to two-under with birdie on the par 3 No. 11 but losing a stroke right on the next hole and slipping to even with bogey on the closing hole.

The 52-year-old four-time Order of Merit winner, Lascuna was tied for 13th with Michael Bibat, Jerson Balasabas and Koreans Gwon Minwook and Kim Tae Won.

Jhonnel Ababa, winner of the Apo Golf Classic, had a two-over 74.

Among the early starters and stood two under through five holes but could not sustain the charge and started slipping on the back nine.

Back-to-back bogeys from No. 10 pulled him back.

PBy Josef Ramos

ARIS-BOUND Nesthy

Petecio and Aira Villegas and three other boxers hoping to qualify for the Olympics in July are bound for a weeklong training camp at the US Olympic Training Center in Denver.

Many-time Southeast Asian Games gold medalist Rogen Ladon, returning amateur Cristian Pitt Laurente and Hergie Bacyadan are hoping to hone their skills in the Colorado facility in time for the last Paris Games qualifier in Bangkok from May 23 to June 3.

Eumir Felix Marcial also flew to Las Vegas following his fifth victory as a pro last month and is expected to join his fellow boxers from the Association of Boxing Alliance in the Philippines in Denver. Coaches Ronald Chavez, Mitchell Martinez and Reynaldo

Suarez takes on replacement foe in Corpus Christi

Galido accompanied the boxers. “Nesthy and Aira need all the exposure they need for Paris,” Association of Boxing Alliances in the Philippines (ABAP) national coach Pat Gaspi told BusinessMirror on Tuesday. “The training camp will also help Rogen, Criztian and Hergie to develop their timing, quickness and power.”

Tokyo Olympics flyweight silver medalist Carlo Paalam has yet to fully recover from a right shoulder and had to stay behind at the Teachers’ Camp facility in Baguio City.

Gaspi said Elmer Pamisa is handling Paalam’s recovery and training and will join the other aspirants in Bangkok.

Laurente will be fighting for an Olympic slot in men’s light welterweight, Paalam in featherweight, Ladon in flyweight and Bacyadan in women’s middleweight.

F

ORMER Olympian Charly

Suarez takes on replacement Luis Coria in a non-title super featherweight 10-rounder bout on Saturday (Sunday in Manila) at the American Bank Center in Corpus Christi, Texas.

The 35-year-old Rio Olympian and three-time Southeast Asian Games gold medalist doesn’t have any idea why original opponent Henry Lebron was replaced by Top Rank in favor of 25-year-old Coria.

“Why? That’s the question in our minds why Lebron backed out, but we already moved on,” Suarez told BusinessMirror via internet call on Tuesday.”

Suarez is undefeated in 16 fights with nine knockouts and is looking fora a convincing win to convince Top Rank head Bob Arum that he’s ready for world title fight.

Committee, Asics, Senoh, Mikasa, Foton Motor Philippines Inc. and Seda Nuvali.

The PNVF has lined up six major international tournaments this year—highlighted by the Volleyball Nations League Men’s Week 3 at the Mall of Asia Arena from June 18 to 23—ahead of the country’s solo hosting of the FIVB Volleyball Men’s World Championship 2024.

Also on the PNVF international calendar are the 5th AVC Challenge Cup for Women (May 25-June 1, PhilSports Arena), 4th Southeast Asia V League Women’s Week 2 (July) and

“Charly is 100 percent in good condition so all we have to do is maintain it,” said Suarez’s long time trainer and manager Delfin Boholst. Suarez debuted in the US with a 10-round unanimous decision win over Dominican Republic’s Yohan Vasquez last August 26 in Tulsa, Oklahoma.

A victory over Coria could lead Suarez—ranked No. 5 by the International Boxing Federation and No. 11 by World Boxing Organization—to a fight against unbeaten American Andres Cortes (21-0 with 12 knockouts).

Suarez is also aiming for a shot at England’s Joe Cordina, the reigning IBF super featherweight champion who beat him in the 2016 Rio Olympics.

“One step at a time, I need to beat Coria first,” he said. Coria is 15-6 won-lost with seven knockouts. Josef Ramos