BusinessMirror April 25, 2023

By Cai U. Ordinario @caiordinario

THE economic team remains “very bullish” that the peso will continue to strengthen against the dollar in the coming months.

I n a Development Budget Coordination Committee (DBCC) briefing on Monday, the economic team said the peso is expected to average P53 to P57 to the dollar this year until the President ends his term in 2028.

B angko Sentral ng Pilipinas (BSP)

Deputy Governor Francisco Dakila Jr. said the peso is already trading below the P58 to the dollar average in the third quarter of last year, a trend expected to continue this year.

“

It’s very difficult to give a forecast but I will say that there are factors that argue that the peso is going to be broadly stable over the medium term,” Dakila said during the briefing.

D ata from the Bankers Association of the Philippines (BAP) showed the peso has improved its performance against the US dollar and

closed at P55.77 on Monday.

T he data showed the peso traded at a low of P55.75 and a high of P56.01 to the dollar. At the start of the trading day, the peso opened at P55.95, slightly lower than the P56.02 close last Thursday.

D akila said government’s optimism that the performance of the peso will improve stems from the expected increase in services exports, which he explained is a significant source of dollars for the Philippines.

A nother is tourism revenue, which Dakila said, is one of the sectors of

the economy that is also expected to see robust growth this year. Tourism is also among the top dollar-earning industries.

We’re actually very bullish for this year. We’re expecting about an 80-percent increase in receipts from tourism. Also, Overseas Filipino remittances are expected to be stable at about 3 percent growth this year and BPO receipts are expected to grow by about 9 percent so those are structural sources of foreign exchange,” Dakila explained.

BusinessMirror

DBCC: ‘23 GROWTH GOAL STAYS, INFLATION A RISK

By Raadee S. Sausa

THE Philippine economic team has maintained its growth targets for 2023 at 6.0 percent to 7.0 percent while revising macroeconomic assumptions to reflect higher inflation and easing global oil price trends, the Department of Budget and Management (DBM) secretary said on Monday.

“ The average inflation rate assumption for 2023 is increased to 5.0 percent to 7.0 percent from the previous assumption of 2.5 percent to 4.5 percent given the persisting high prices of food, energy and transport costs,” Secretary Amenah Pangandaman, who chairs the Development Budget Coordination Committee (DBCC), said.

“ We maintained our growth targets at 6.0 percent to 7.0 percent for 2023 and 6.5 percent to 8.0 percent for 2024 to 2028 in consideration of the risks posed by geopolitical and trade tensions, possible global economic slowdown, as well as weather disturbances in the country,” Pangandaman said.

T he Philippine economy grew by 7.6 percent in 2022, outperforming the DBCC’s growth target of 6.5 percent to 7.5 percent.

This high-growth performance is projected to continue until 2028, aligned with the Medium-Term Fis -

PBBM: TALKS WITH BIDEN WILL TACKLE

DEFENSE, CLIMATE

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R.

Marcos Jr. said he will be discussing the “evolution” of the country’s defense agreements and climate change initiatives with United States President Joe Biden during their meeting next month.

PHL among top recipients of ADB funding in region

serious, that is why we are now worried by them,” Marcos said.

I n December, the President announced there is an ongoing review of the MDT to rationalize its provisions, particularly on the conduct of joint exercises, and the use of the country’s bases by US forces under the Enhanced Defense Cooperation Agreement (EDCA).

THE Philippines is among the top recipients of loan and grant financing from the Asian Development Bank (ADB) across the region.

I n its Annual Report for 2022, ADB data showed it committed $2.995 billion to the Philippines in 2022, making the country the 5th largest recipient of sover -

eign, non-sovereign loans and grants. A DB committed $20.5 billion from its own resources in 2022 to help Asia and the Pacific continue its recovery from the Covid-19 pandemic despite fresh economic headwinds and crises.

cal Framework,” Pangandaman said as the 184th DBCC Joint Statement was issued.

Moreover, in line with the Philippine Development Plan (PDP) 2023-2028, the government will focus on modernizing agriculture, expanding agri-business, encouraging private sector participation in infrastructure development, promoting digital transformation, and enhancing the competitiveness of local industries, according to her.

By implementing the reforms and strategies already outlined in the PDP 2023-2028, Filipinos can expect a more robust Philippine economy with a single-digit poverty level.

Assumptions revised

MEANWHILE , the committee also approved the revisions to the macroeconomic assumptions based on emerging data.

I n his interview with broadcaster and former Social Welfare Secretary Erwin T. Tulfo on Monday, Marcos said among the top issues he will raise in the meeting will be updating the Visiting Forces Agreement (VFA) and the Mutual Defense Treaty (MDT) with the US.

T he MDT allows the Philippines and the US to provide support to each other if either country is attacked by a third party.

Meanwhile, the VFA allows US troops to operate within the country’s territories.

Marcos said both agreements should be “evolved” to take into account the brewing international tensions in the South China Sea, Taiwan and North Korea.

“ What can we do to reduce rhetoric [in the accords] because the exchange of words [on the issues] are now becoming more

T he result of the review was scheduled to be completed early this year.  Marcos is also eyeing how the country can access the “green bonds” from the US, which can be used for local climatechange mitigation measures.

“ This means they will give funds to help fix [climate change issues]. For example, relocation for no-build zones,” Marcos explained.

T he additional funding, he said, can boost efforts to address the effects of climate change.

A side from military issues and climate change, Marcos said other matters which may be tackled in his talk with Biden are economic issues as well as tourism and healthcare.

T he bilateral meeting between Marcos and Biden will be held at the White House in Washington D.C. on May 1, 2023.

BATTERY SWAPS Horace Luke (left), the CEO and founder of Gogoro, a Taiwan-based company that specializes in battery swapping ecosystems for electric scooters, demonstrates the features and capabilities of their smart scooters, batteries, and swapping stations

Ayala

Chairman Jaime Augusto Zobel de Ayala and Globe’s President and CEO Ernest Lawrence Cu during the launch on Monday, April 24, 2023, in

DBCC eyes more revenue measures in fiscal reforms

By Raadee S. Sausa

THE Development Budget Coordination Committee (DBCC) will pursue the legislative approval of revenue-generating measures in addition to the reforms under the Medium-Term Fiscal Framework (MTFF), Finance Secretary Benjamin Diokno said on Monday.

Oil firms to cut pump prices

By Lenie Lectura @llectura

OIL firms are implementing a price rollback starting Tuesday morning.

Gasoline prices will go down by P1.40 per liter, diesel by P0.70 per liter, and kerosene by P0.20 per liter.

S eaoil, Total, Caltex, Phoenix, PT&T, Caltex, Shell, and Petron will implement the new pump prices at 6 a.m. of April 25. Cleanfuel, meanwhile, will slash its prices at 12:01 a.m.

L ast April 18, oil companies implemented a per liter decrease of

P0.40 on the price of diesel. On the contrary, the price of gasoline and kerosene have increased by P0.30 and P0.10, respectively. These resulted in a year-to-date net decrease for diesel at P2.35/liter and kerosene at P3.35/ liter. Gasoline on the other hand, has a net increase of P8.95/liter.

P rior to last week’s price adjustment, pump prices increased for two consecutive weeks on the back of cooling US inflation data, a weaker dollar and stronger-thanexpected China trade data.

Movements in the world oil market affect local pump prices.

User’s Tax, and reforms to the mining fiscal regime,” he said at the 184th DBCC Joint Statement.

T he revenue impact of these measures is expected to kick in starting 2025.

D iokno said given the additional tax reforms, “the DBCC projects revenues to increase from P3.7 trillion in 2023 to P6.6 trillion in 2028, or an average annual increase of P512.7 billion.”

Specifically, tax revenues are expected to increase from P3.5 trillion in 2023 to P6.4 trillion in 2028, equivalent to an annual average increase of P536.3 billion,” he added.

A s a percentage of gross domestic product (GDP), tax effort will increase from 14.4 percent in 2023 to 16.8 percent in 2028  Diokno said.

T he implementation of the Passive Income and Financial Intermediaries Taxation Act (PIFITA), imposition of valueadded tax (VAT) on digital service providers, imposition excise tax on single-use plastics (SUP), and imposition of excise tax on pre-mixed alcohol are expected to begin in 2024. These are the four measures that were already included in the Medium-Term Fiscal Framework,” Diokno said.

Continued from A14

Revenue-positive properties CHROMA Hospitality also hopes to reopen the 290-room Crimson Mactan “by July,” and Montenegro admits it has taken a bit longer due to to reconstruct after Cebu  was ravaged by Typhoon Odette (international name: Rai) in December 2021.

M eanwhile, he expressed optimism about the company’s rebound, with revenues now back in prepandemic levels.

“ The resorts picked up faster to the city hotels. But now it’s shifting a little bit. City hotels are

starting to pick up more. [Despite the closure of Crimson Mactan], if I look at the revenues of all of the hotels, they’re almost at prepandemic level. My expectation is by the end of this year, we will be about prepandemic [revenue] level, and next year we’ll be past pre-pandemic [level]. And after 2024, maybe income positive.”

W ith more international flights coming from South Korea, Japan, and the Middle East, Montenegro hopes more foreign travelers will book their hotels. He acknowledged that because of the “robust domestic travel business,” their properties are doing well, with the 192-room Crimson Resort and Spa Boracay, for example, averaging almost 80-plus percent in terms of hotel occupancy. Crimson Boracay won Best Resort for 2023 at the recent MOPC Grand Tourism Awards.

C hroma Hospitality currently operates seven properties: Crimson Boracay, Crimson Mactan, Crimson Filiberto’s City (345 rooms), Quest Plus Clark, Quest Tagaytay  (165 rooms), Quest Hotel Cebu (427 rooms), and Timber Highlands (72 rooms).

Economic team...

Continued from A1

Growth in remittances from Filipinos abroad slowed to 2.4 percent in February, the slowest in seven months, according to the latest BSP data.

B SP data showed this was the slowest since July 2022 when remittances posted a year-on-year growth of 2.3 percent. In the first two months of the year, cash remittances grew 3 percent.

T he level of cash remittances also reached P2.569 billion, the lowest level since May 2022 when remittances amounted to P2.425 billion. In the January to February period, remittances amounted to P5.331 billion.

B SP traced the slight expansion in cash remittances in February 2023 to the growth in receipts from land- and sea-based workers.

O n a year-to-date basis, cash remittances coursed through banks in January-February 2023 amounted to $5.33 billion, up by 3 percent from $5.18 billion recorded in the same period a year-ago.

T he growth in cash remittances from the United States, Saudi Arabia, Singapore and Qatar contributed mainly to the increase in remittances in January-February 2023.

Meanwhile, in terms of country sources, the US posted the highest share of overall remittances during the period, followed by Singapore, Saudi Arabia and Japan.

“ The average inflation rate assumption for 2023 is increased to 5.0 percent to 7.0 percent from the previous assumption of 2.5 percent to 4.5 percent given the persisting high prices of food, energy and transport costs,” Pangandaman said.

T he government, through the Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) is committed to pursuing an allof-government approach to continuously implement immediate and medium-term strategies to alleviate inflation, ensure food and energy security, and return to the target range of 2.0 percent to 4.0 percent between 2024 and 2028.

Meanwhile, the assumption for the price of Dubai crude oil for 2023 is lowered to $70 to $90 per barrel considering the global demand slowdown.

T he secretary also said the latest forecasts suggest that global crude oil prices will continue to decline in 2024 before stabilizing at $60 to $80 per barrel between 2025 and 2028 as the latest forecasts suggest falling global crude oil prices over the medium term.

P angandaman also said

that the peso-dollar exchange rate assumptions for 2023 were adjusted downwards to $53 to $57, and are expected to be maintained at the same level until 2028.

T his positive outturn is attributed to the central bank’s policy normalization measures, as well as expected inflows from improvements in tourism revenues and OFW (overseas Filipino workers) remittances because of the reopening of the country’s economy, she said.

“ Goods exports and imports growth projections for this year remain at 3.0 percent and 4.0 percent, respectively, following the trend in near-term global demand outlook and trade prospects. These are expected to stabilize at 6.0 percent and 8.0 percent, respectively, in the medium term,” the secretary added.

“ The DBCC is committed to taking proactive measures to bring inflation back within the target range while developing physical, social and digital infrastructures to gear up the Philippines for more investments and opportunities that every Filipino can enjoy,” Pangandaman said.

“ Our support in 2022 helped our developing member countries [DMCs] navigate the immediate impacts of these crises while bolstering their longer-term resilience in critical areas such as climate change and food security,” said ADB President Masatsugu Asakawa.

For the Philippines, ADB committed $2.5 billion from its ordinary capital resources (OCR) for sovereign operations and $49 million for nonsovereign operations.

T he country also secured P2 million from ADB’s special funds and $10.3 million for technical assistance.

Cofinancing from ADB and its partners allowed the country to tap into $423.9 million for projects and $9.9 million for technical assistance.

T he financing from ADB was allocated to the South Commuter Railway-Tranche 1  which received $1.75 billion, the largest for any single project in the region.

O ther projects included the Support to Capital Market-Generated Infrastructure Financing Program (Subprogram 2) which received $400 million; Climate Change Action Program (Subprogram 1), $250 million; and Supporting Innovation in the Philippine Technical and Vocational Education and Training System, $100 million.

Meanwhile, in the region, Pakistan received the largest commitment from ADB worth $5.584 billion followed by Bangladesh, $3.935 billion; India, $3.117 billion; and Vietnam, $3.094 billion.

T he countries in the region that received the least commitments were Tuvalu which received a total of $1.2 million in commitments; Niue, $1.6 million; and Cook Islands, $2.2 million.

However, the ADB did not make any commitments to Myanmar for 2022. ADB said effective 1 February 2021, ADB placed a temporary hold on sovereign project disbursements and new contracts in Myanmar, where a military coup against the democratically elected government of Aung San Suu Kyi, who is detained and being tried on assorted charges, remains entrenched in power. A DB said it “continues to closely

monitor the situation in the country and remains committed to supporting its people.”

A DB committed $6.7 billion in financing for climate mitigation and adaptation in 2022, making progress toward its ambition of providing $100 billion in cumulative climate financing during 2019–2030.

To address the region’s worsening food crisis, ADB provided $3.7 billion under its $14-billion food security program, delivering essential food relief for people most in need and strengthening food production systems.

To support economic recovery, ADB financed institutional reforms, strengthened public service delivery, and growth in key economic sectors. ADB’s $3.9 billion in commitments to the private sector included vital liquidity support to enterprises facing a difficult business environment.

Meanwhile, the bank made wideranging investments in quality infrastructure as well as in education, health, and other social sectors that contributed to building economywide resilience.

P romoting gender equality remained at the forefront of ADB’s work, with 97 percent of the bank’s operations in 2022 contributing to this agenda. These operations included initiatives to improve women’s access to quality jobs, foster women’s entrepreneurship, and build women’s resilience to climate change.

A nnual Report 2022 provides details on how ADB is evolving to better meet the changing and complex needs of its DMCs. These include measures to unlock greater resources to support the region’s development through an ongoing review of the bank’s capital adequacy framework, as well as structural and nonstructural organizational reforms guided by a new operating model.

“ I am confident that these reforms will ensure ADB delivers greater impact in the region, including by scaling up climate financing, mobilizing more private sector investment, and providing a wider range of development solutions in response to client needs,” said Mr. Asakawa.

Including the imposition of higher excise taxes on sweetened beverages, rationalization of the Motor Vehicle Road

The Nation

Bill waives payment of license fees for PUV drivers

By Jovee Marie N. Dela Cruz  @joveemarie

ALAWMAKER is pushing for the passage of a bill exempting public utility vehicle (PUV) drivers from paying application or renewal fees in securing professional driver’s license.

In filing House Bill 7796, CIBAC Party-List Rep. Bro. Eddie Villanueva said in some rural areas, tricycle drivers are either driving without professional driver’s license or driving with an expired one which can be attributed to the high cost of fees in applying and renewing driver’s license validity.

CIBAC recognizes that PUV drivers who are key players of our public transport sector are mostly minimum-wage earners. Thus, exempting them from paying application or renewal fees in securing professional driver’s license will greatly help in cushioning their meager income from the unabated price surge of fuel and from the adverse effects of the pandemic so that they will take home a larger disposable profit,” said Villanueva.

H B 7796 defines PUVs as roadbased motor vehicles that provide conveyance to the general public passenger and/or domestic cargo for a fee, offering services to the public, such as trucks-for-hire, UV express service, public utility buses (PUBS), public utility jeepneys (PUJs), tricycles, filcabs, and taxis. However, transport vehicles accredited with or operating through Transport Networks corporations and individual are not covered.

U nder the bill, no fee shall be imposed as charge in the license application or renewal of PUV drivers except for fees required to be paid to government or institutions providing services and documents necessary in the application or renewal of driver’s license, such as but not limited to medical or eye examinations from Land Transportation Office (LTO) accredited clinics, ID pictures, birth certificates and the likes.

Currently, driver’s license application/renewal fee is estimated be around P600 to P700, inclusive of computer or processing charge.

T he exemption can be availed of upon presentation of a certification from the local government unit that the applicant is a validated PUV driver, and a membership identification card issued by a recognized transport organization or a tricycle operators and drivers association (TODA).

T he bill also penalizes PUV drivers who will submit falsified documents to avail of the exemption with fines ranging from P50,000 to P100,000 and/or imprisonment of 1 month to 6 months upon the discretion of the court.

In consideration of their socioeconomic plight, we call on Congress to pass this measure to alleviate the financial burden of our PUV drivers and encourage them to apply or renew their license,” said Villanueva.

PBBM: Maj. Gen. Acorda’s designation to maintain stability within PNP ranks

By Samuel P. Medenilla @sam_medenilla  & Rene Acosta @reneacostaBM

THE designation of Benjamin C. Acorda Jr. as the new chief of the 220,000-strong Philippine National Police (PNP) will maintain the stability of the organization as it implements a massive anti-drug campaign within its ranks and other major reforms, President Ferdinand R. Marcos Jr. said on Monday.

T he President said he is confident Acorda, who hails from Ilocos Norte, would be able to facilitate the muchneeded changes within the PNP, including its new housing program and an updated pension system. The reforms also include the continuation of the ongoing purge within the PNP to rid its ranks of officials with alleged links to drug syndicates.

All of those are simultaneously being done, the new PNP chief will be able to accomplish this at a steady pace. He can keep the calm [in PNP] until these tasks are completed,” the President said in Filipino during his interview with broadcaster and former Social Welfare Secretary Erwin T. Tulfo.

‘Scandal-wracked’

MARCOS designated the chief intelligence officer of the PNP as the organization’s new head as the Commander-in-Chief moved to establish order within the scandalwracked police force.

Acorda, the chief of the PNP directorate for intelligence, succeeded PNP chief General Rodolfo Azurin Jr., who mandatorily retired from the service, without explaining his role in the alleged illegal drugs cover-up by police officials.

In designating Acorda—straight

from being the intelligence chief to chief of the PNP—Marcos apparently wanted to fix the mess associated with the illegal drugs issue hounding the PNP, and whose resolution was left hanging with Azurin’s retirement.

A corda, a member of the Philippine military Academy Class of 1991, vowed to sustain the government’s anti-criminality campaign, while pursuing the PNP’s internal cleansing by removing misfits and scalawag members.

Acorda’s assumption of the PNP’s leadership comes at a time when the organization is ebbing in public perception due to the illegal drugs issue.

Interior and Local Government Secretary Benjamin “Benhur” Abalos Jr. has recently called on all police colonels and generals to tender their courtesy resignations as they are assessed and vetted of any links or involvement in illegal drugs.

T he move supported by Azurin is already under review by the National Police Commission (Napol-

com) before it would be submitted to Marcos for final decision, and whose action would be expected to be implemented under Acorda as the new chief of the PNP.

The PNP, and even the Napolcom, is also investigating the alleged cover up by high-ranking police officials of the more than P6.7 billion illegal drugs haul in Manila last year as claimed by Abalos and which has already resulted in the relief of members of the PNPDrugs Enforcement Group.

A zurin, who was informed about

the operation, bowed out of service without clarifying the issue, except saying that there was no cover up. Acorda, as head of the organization, would implement the results of the investigation.

During his assumption speech, the new PNP chief said he would implement a “reward and punish” system for members of the PNP, especially in cases where illegal drugs is involved.

He said that no policeman should be involved in “pushing, using or whatever means of illegal trade” or they would be charged and removed from the service.

Under my leadership, rewards and punishment will be quick and decisive,” Acorda, who also previously served as PNP Civil Security Group as well as one of the officials, who created the PNP Anti-Cybercrime Group, vowed.

Peacekeeper

THE Federation of Free Worker (FFW), for its part, welcomed the appointment of Acorda, whom it described as a veteran peacekeeper due his experience as a member of the United Nations Blue Helmets.   T he labor group said it hopes that the PNP, under the leadership of Acorda, will ensure the protection of labor rights.

With his stint with the UN we believe he has embraced the tenets of social justice and recognizes the standards setting mechanism of the ILO [International Labor Organization], such as on the full respect for the right to unionize,” FFW said in a statement issued on Monday.

“He has the opportunity to put a stop to the killings of trade union leaders and rampant violation of trade union rights reportedly perpetrated by authorities,” it added.

Rep. Herrera bares options to hike private sector health workers’ pay

GIVEN the wide compensation gap compared to their counterparts in the public sector, a deputy minority leader is urging Congress to pass two bills that seek to improve wages of private sector health workers.

Deputy Minority Leader Bernadette Herrera said the wage concerns raised by nurses and other health professionals working in private hospitals and clinics are valid and must be addressed.

“

Though the problems are difficult, they must be solved because the disparity in wages between the private and public health sectors is a glaring and continuing injustice,” she said.

Herrera said House Bill 4932 or the Medical Assistance to Indigent Patients (MAIP) program Act and HB 1232 or the Private Hospital Assistance Act.

If these bills become laws, they would open up new sources of revenue to augment the private hospitals current streams, while also giving indigents and other households access to hospital care,” added Herrera.  I also present for further

study by Congress, the Department of Budget and Management, and the Department of Finance two sets of solutions. The first set includes options for which there has existing legal precedents. The second set consists of innovations,” she added.

First, looking at the current regime of wage laws, the lawmaker said, the minimum wage laws and regulations allow for classifications of workers.

“

There are distinctions: agricultural workers, non-agricultural workers, administrative and clerical workers, industrial zone workers, household workers,” she said.

“

I therefore suggest a new wage category for health-care workers, including health professionals. This category should have a national minimum wage rate that should be at least 50 percent higher than the highest rate in NCR [National Capital Region]. If it were entirely up to me, the daily minimum wage of an entry-level health care worker in the private sector should be at least P1,000 a day or P22,000 per month for at least 22 days of work in a month.

Given current economic conditions and the essential and crucial role of health-care workers, P1,000 a day is just minimum wage at entry level. The wage rates of those at higher than entry level, should of course be higher,” she added.

T he twin issue is affordability, according to Herrera.

T he lawmaker said many private hospitals would probably complain or protest that they cannot afford the P1,000 daily minimum wage rate and the higher rates for those with higher ranks.

“ The solution to this that I see is a direct wage subsidy from both the national government and the local government—with P400 coming from the national government and P100 from the local governments— that are cities and first class municipalities,” she said.

“ The budget for the P400x22 or P8,800 can be divided, with some lodged with the Department of Labor and Employment [following the CAMP model of wage subsidy given during the pandemic] while some can be a direct subsidy budget lodged with the Small Business Corporation of the DTI [Depart -

ment of Trade and Industry], which already has a wage subsidy program in place,” she added.

Herrera said a probable source of national funding would be a percentage tax or specific tax on products high in sodium and sugar.

The sin taxes for health programs funding would be the relevant precedent for this approach. Local sources of funding would be a percentage of the LGU IRA [local government unit’s internal revenue allotment],” Herrera said.

If the national government cannot afford a monthly wage subsidy, the lawmaker said the fallback positions would be a quarterly or semiannual subsidy, explaining, “This would greatly reduce the budget requirement. But the goal should be a monthly wage subsidy.”

New approaches

THE lawmaker said a new approach, which the House has thought of is to expand the coverage of lawmakers’ medical assistance referrals to include private hospitals.  “ This way, private hospitals can augment their finances with the funds coming from the lawmakers’

referrals,” she said.

“Another approach I suggest is for the Development Bank of the Philippines [DBP] to establish and sustain a concessional loan facility program for private hospital facilities and manpower development. This way, the private hospitals, especially those in financial distress, can access the affordable DBP funds to improve their services and afford higher wages for their staff,” Herrera added.

A third approach, she said, is to ask the Asian Development Bank, the World Bank, and Japan International Cooperation Agency for a sectoral transformation loan facility of at least $500 million and targeted to improve private medical facilities, especially those in the provinces.

“A fourth possible solution is the issuance of long-term bonds of at least 20 years maturity and amounting to at least P500 billion, with the proceeds to be used to improve the facilities and services with the ultimate goal of enabling the private hospitals to afford higher wages for their personnel,” she added.

Jovee Marie N. Dela Cruz

House reso presses DOTr to upgrade airport security, erase pax congestion

LAWMAKERS are urging the Department of Transportation (DOTr) to check the status and upgrade security facilities at the country’s airports to lessen congestion in passenger terminals and heighten measures on ensuring public safety.

I n House Resolution 921, Davao City Rep. Paolo Duterte and Benguet Rep. Eric Yap said the DOTr should incorporate in its proposed budget for 2024 the expenditures needed to improve

these facilities given the everincreasing number of travelers going in and out of the country.

D uterte and Yap noted that the ease in health and safety protocols on travel has led to a significant rise in airline passenger growth especially during holiday seasons, which, in turn, has led to a disparity between demand and the number of available security equipment and facilities in the country’s airports, “resulting in missed flights, interterminal flight transfers, and jam-

packed check-in counters.”

The consistent congestion in these airports necessitates an increase and advancement in airport security facilities and equipment, particularly full body scanners and baggage scanners, in order to serve a larger number of people as well as ensure public safety in the exercise of every citizen’s right to travel,” the lawmakers said in filing the resolution.

I n pressing the DOTr to address the congestion and delays

in airports, Yap and Duterte said that this is “part of the duties and functions of the House of Representatives…to revisit and scrutinize existing laws, regulations, and circumstances that affect the country’s passengers as well as public order and safety.”  Now, therefore be it resolved, as it is hereby resolved, that the House of Representatives of the Philippines urge the Department of Transportation to look into the current status of airport security

facilities and equipment of the country’s airport terminals, particularly their full body scanners and baggage scanners, and to include in its budget proposal for the 2024 National Expenditure Program [NEP] the provision of the said airport security equipment that shall be allocated in all airport terminals in the country,” they said in the resolution.

A irlines have been encouraging passengers to check in online or go to the airport as early as five to six

hours before their flights to avoid delays and long queues, especially during peak seasons, owing to the usual congestion at the Ninoy Aquino International Airport (Naia) and other airports in the country.

N aia has recorded a total of 10,855,332 passengers in the first three months of 2023, a 158 percent jump from 4,200,575 during the same period in 2022, according to reports quoting officials of the Manila International Airport Authority.

PRESIDENT Ferdinand R. Marcos Jr. leads the change of command ceremony and retirement honors for Philippine National Police (PNP) chief Gen. Rodolfo Azurin Jr., at the PNP Headquarters at Camp Crame in Quezon City on Monday as Maj. Gen. Benjamin Acorda Jr., PNP Director for Intelligence, assumes command as chief of the 220,000-strong PNP. Acorda, whose family has produced a long line of public officials in Ilocos Norte, is a member of the Philippine Military Academy “Sambisig” Class of 1991. REY BANIQUET/PNA

PIDS study pushes modernization of aviation gateways

By Cai U. Ordinario @caiordinario

Anti-Corruption 2023 and beyond–Are we dreaming?

permission, or license to operate an air passenger service.

[If] you negotiate for more ASA, you will have more seats for passengers, leading to a greater pressure on your existing airport infrastructure,” Basilio said.

T he country’s air seats rose from 200,000 in 2013 to 525,000 in 2015.

By Henry J. Schumacher

I n a recent webinar, Philippine Institute for Development Studies (PIDS) Research Fellow Kris Francisco and Research Analyst

Valerie Lim assessed the current state of the Philippine air transport infrastructure.

It also reviewed government plans and programs seeking to improve the performance of the air transport sector, given its enabling role in high-value industries such as trade, manufacturing, and tourism.

“ Having an efficient air transport infrastructure and an enabling air transport sector is important for a developing country like the Philippines, where tourism is a major contributor to the economy and provides employment opportunities for the population,” the authors said.

Citing Philippine Statistics Authority and Department of Tourism data, they noted that the tourism sector accounts for 13.6 percent of the country’s total employment and 12.8 percent of the economy’s gross value added.

Perhaps, the air transport’s most valuable contribution to the Philippine economy is its role as the backbone of the tourism industry,” Francisco said.

Henry Basilio of the University of the Philippines-National College of Public Administration and Governance said that an aggressive stance on negotiating for air service agreements (ASA) must be taken to enhance the tourism sector further.

A SAs are agreements where states grant airline operators the authority,

C ivil Aeronautics Board Chief Administrative Officer Rhea Joy Morales-Gonzalez, also a discussant at the webinar, underscored that a broader tourism campaign could encourage more investments in the air transport industry.

Morales-Gonzalez added that air transport could be further improved using the “traffic revision strategy,” where the government revisits policies for airlines operating at a particular airport.

C ebu Air Chief Strategy Officer and Cebgo President and Chief Executive Officer Alex Reyes, who served as a webinar discussant, echoed this statement.

Air transport is an important enabler of other industries such as tourism. Given our [country’s] stage of economic development, having a robust tourism industry and an efficient air transport infrastructure is a great match,” he said.

THEfirst year of the Marcos Presidency is almost done. As I sit to formulate visions for the next 18 months up to the end of 2024, my mind is asking whether we will enjoy a level playing field, and be tough and walk away from all corruption challenges?

Unfortunately, every loud proclamation that corruption— as we know it—is “dead” is followed by something new. Let’s agree that there is plenty of resourcefulness out there to redefine and reinvent corruption. As I said in one of my earlier columns: corruption enablers are created daily. But we are attempting to reach

a business environment free from corruption, giving businesses the opportunity to fulfill their potential in an ethical environment. We are daring to dream higher and encouraging others to do the same, knowing, however, that we have to be aware of four situations that can shatter our dreams:

T he first condition, necessary for the emergence and reemergence of corruption, is that there be rents associated with government’s regulatory powers.

T he second condition requires that corrupt bureaucracies be somewhat independent within the remaining (if honest) administrative structure of the government. External controls of the bureaucracy—whether imposed by the remainder of the administrative system or by society at large—must be weak. Therefore, let’s create strong Integrity Circles, composed of business and civil society, and hopefully LGUs.

T he third condition requires the public institutions controlling corruption be weak and ineffective. These institutions include civic groups that exert moral pressures, political parties and the media that could expose the wrongdoing, and the legal system that would have the authority to prosecute and punish the guilty (in the Philippines, the

poor have to go to jail but the rich can easily get away or delay processes). Without judicial reform, corruption will continue to blossom. Impunity is a close ally of corruption!

T he fourth condition is a lack of whistleblower protection.

It is obvious that strange deals between government and the private sector and private sector to private sector (price fixing, collusion in biddings, bribing technical and purchasing staff, etc.) will only become known if people inside those organizations become whistleblowers. This is the reason why we advocate the protection of whistleblowers. At the present situation, I would not be courageous enough to be a whistleblower. You?

It’s time that companies and individuals commit to integrity. Do it now and let’s create the Integrity Nation.

A nd remember, Integrity starts with I—meaning YOU.

To all of those who have been with us during the anti-corruption journey we started in 2010, I say, progress toward the impossible dream makes us believe it could just be possible!! Let’s jointly with government create the Integrity Nation!

Comments are more than welcome—e-mail hjschumacher59@ gmail.com

IF the Philippines aims to be one of the world’s top tourism destinations, the government must immediately improve and modernize the country’s major gateways, according to experts.

NIA identifies irrigation priority areas in VisMin

By Raadee S. Sausa @raadeeboy

THE National Irrigation Administration (NIA) has identified areas that will be prioritized for irrigation, and will implement the alternate wetting and drying technique to address threats posed by El Niño on the country’s water supply, an official said on Monday.

“ These are the agency’s ‘shortterm solutions’ to mitigate the impacts of El Niño, which can deplete water supplies and cause significant losses in agricultural production,” Eduardo Guillen, Acting Administrator of NIA said during the Laging Handa media briefing.

A lternate wetting and drying is a water-saving technology that farmers can apply to reduce their irrigation water consumption in rice fields without sacrificing farm yield, the International Rice Research Institute said.

Meanwhile, Guillen added that hybrid varieties of rice and high value crops would be planted in affected areas.

Parts of Luzon and Visayas will be mostly affected by El Niño, he said.

“A long-term solution is building high dams,” Guillen said, noting these would not only address water woes but also generate power. Large dams, however, submerge communities, force people to relocate, and threaten biodiversity.

Earlier, President Ferdinand R. Marcos Jr. ordered the creation of an El Niño team to strengthen the country’s preparations for the adverse impacts of the phenomenon.

Foreign ownership restriction in Charter a ‘complete turnoff’ to investors–lawyer

By Andrea E. San Juan @andreasanjuan

IT is “encumbent” upon Filipino lawmakers to redo the Constitution because foreign ownership restrictions in the Charter are a “complete turnoff” to foreign investors, international trade lawyer Anthony Abad said.

“As a corporate lawyer, I do not see the logic of a 60-40. What’s the scientific basis for the 60-40 protection? And then again as a lawyer, the sad thing is the moment somebody asks: ‘what are the restrictions? Oh the Constitution has a 60-40 thing?’ Complete turnoff so they just go to Vietnam,” Abad

told the forum titled “Breaking Economic Barriers: Making the Philippines an Investment Destination,” which was organized by the British Chamber of Commerce of the Philippines (BCCP) last Thursday.

T he 1987 Philippine Constitution limits foreign ownership of land and certain businesses to only 40 percent, while the 60 percent is set aside exclusively for Filipino citizens or corporations.

With this, the trade lawyer said, “So I think it is encumbent upon us to really redo the Constitution. Not because it’s wrong to regulate investments. It can be done but it should be done by law and by regulation and not by the Constitution.”

A bad said the Constitution is there to “set up society—to establish relationships within our society.”

In relation to easing the restrictions on foreign ownership, Abad emphasized that the Philippines needs foreign direct investments (FDIs), saying this will “eradicate poverty.”  “ We cannot depend on our own natural resources because we are producing too many people. Our population is not in keeping. We are not able to use our own natural resources to leverage it into high economic growth,” Abad pointed out.

Further, he said, the capital that is accumulated from abroad is “what is going to absorb unemployment and poverty.”

T he trade lawyer also allayed the fears in relation to opening up the economy to multinationals, saying capitalism can be fought if a country promotes a “level-playing field” through competition laws.

We worry about evil multinationals to take over the country and oppress the people but if you think about it, capital doesn’t have a nationality. It just wants to maximize profit. But what we do is to prevent the abuse of capitalists—is you have to make sure that there’s a level-playing field. That’s why the trend in the world is to have antitrust or competition laws and make sure that there is competition,” Abad noted.

M eanwhile, he also stressed that in the age of artificial intelligence (AI), it is crucial to attract technological investments, as this will also have a hand at reducing poverty in the country.

It is technology that reveals new ways of doing things so we think we are going to run out of food or medicine but somehow technology will always find a way to resolve these problems. But you cannot get that technology unless you open your economy. That’s why empirically and statistically, those countries that have opened up their economy in the last 20 or 30 years are the ones fastest at alleviating poverty,” the trade lawyer added.

By Malou Talosig-Bartolome

THREE Filipina flight atten-

dants of Saudia were the first Filipino workers to be evacuated from strife-torn Sudan, the Department of Foreign Affairs said (DFA).

T his came as the Philippine Embassy in Cairo has dispatched a bus going to the border with Sudan to fetch Filipinos fleeing from the civil war in the African state.

T he three Filipina flight attendants witnessed first hand the start of the conflict in Sudan when their Saudia (formerly known as Saudi Arabia Airlines) aircraft came under fire at the Khartoum International Airport last April 15.

Luckily, they were all taken out of the aircraft before the aircraft was attacked,” Consul General to Jeddah, Saudi Arabia Edgar Thomas Auxilian told the BusinessMirror

The Filipinas stayed at the Saudi Embassy in Khartoum for four days. “They witnessed the constant bombings in Khartoum,” the consul general said.

T hen on April 20, the Saudi Embassy facilitated their evacuation together with 154 Saudi nationals and other foreigners. They traveled by land from Khartoum to the Port of Sudan for two days despite the dangers of constant bombardment between the two factions of the Sudanese military.

Normally, it would take 15 hours to travel from Khartoum to the port.

However, they were forced to stop overnight to look for gas supplies. After finding a gas refill from the black market, they were able to move straight to the Port of Sudan.

From the port, the 157 evacuees, including the three Filipinas, boarded four Saudi naval boats and exited through the Red Sea. Aside from Saudis and Filipinos, the other stranded foreigners who were also evacuated were from Kuwait, Qatar, the United Arab Emirates, Egypt, Tunisia, Pakistan, India, Bulgaria, Bangladesh, Canada and Burkina Faso.

T he Saudi Ministry of Foreign Affairs informed the Philippine Consulate about the three Filipino nationals who were among the extracted foreigners from Sudan.

T he deputy consul general met the three Filipina stewardesses upon their arrival on April 23 at the Jeddah naval facility.

3 Pinay Saudia flight attendants flee Sudan PCCI presents formula to lure investments to Philippines

“ They were visibly shaken, but they are in good health,” Auxilian said. “They were thankful.”

T he consul general said the Philippine government is also looking at the possibility of evacuating other Filipino nationals by sea. But it is a longer and more dangerous route.

DFA Undersecretary for Migrant Workers Affairs Eduardo de Vega said the number of Filipinos in Sudan have suddenly ballooned.

From 250, there are now 696 Filipinos who registered at the Philippine Embassy in Cairo, which has the consular jurisdiction over Sudan.

DOST grants ₧1 million to Davao del Sur school for scholarship registry

By Manuel T. Cayon  @awimailbox Mindanao Bureau Chief

DAVAO CITY—The industry and technology unit of the Department of Science and Technology (DOST) granted a P1 million fund to the University of Mindanao (UM) Digos to develop its own scholarship monitoring and skills registry.

DOST’s Philippine Council for Industry, Energy and Emerging Technology, Research and Development (DOST-PCIEERD) announced it has granted P1 million to UM’s Provincial Workforce Enabling System through Scholarship or project ProWESS. This is a scholarship registry, monitoring dashboard, and job matching prediction system.

T he university said it aims to aid the provincial government of Davao del Sur “in evaluating scholarship

applicants, monitoring their academic performance, and developing a skills registry that matches the skills of the scholars.”

Dr. John Vianne Murcia, UM director of the Institute of Economy and Enterprise Studies and project leader, said ProWESS “will combine various data sets to identify and support scholars through data science and support decisions system.”

She said the data set would help evaluate the scholars based on credentials, approve or disapprove scholarship applications based on allocation, prioritization of municipalities, and relevance of programs being applied for funding, identifying geo location of scholars based on personal sociodemographic information.

It would also help monitor the academic performance of ongoing scholars, and matching graduate scholars with available job postings posted real-time by Public Employ-

ment Service Office and other registered businesses.

T he project fund would be taken from the Good Governance through Data Science and Decision Support System (GODDESS) program of DOST, “which aims to address the gap in the country’s workforce for data scientists that enables and strengthens the government to adopt data-driven governance and evidence-based management.”

Meanwhile, the Japan Information and Culture Center (JICC) of the Embassy of Japan in the Philippines also announced it is now accepting applications for the undergraduate, research, specialized training college, and college of technology categories of the 2024 Japanese Government (Monbukagakusho) scholarship.

A ll Filipino citizens who meet the qualifications for each category may apply. For the research by research students and those for master’s or

DOJ eyes tagging as terrorists other masterminds in Degamo slay case

By Joel R. San Juan @jrsanjuan1573

JUSTICE Secretary Jesus Crispin Remulla on Monday said the justice department is eyeing to designate not only suspended Negros Oriental Rep. Arnolfo “Arnie” Teves Jr. but several other individuals who may have played a role in the killing of Negros Oriental Governor Roel Degamo.

I n an ambush interview with reporters, Remulla said he would be meeting with the members of the Anti-Terrorism Council (ATC) in the coming days to discuss the Teves group’s possible designation as terrorist.  “We’re looking at three, four or five other people who may be considered as part of the terror organization of Mr. Teves,” Remulla said.   Remulla noted that Teves’ group

does not involve any other government officials but only those who played “very pivotal roles in the plot” that led to the killing Degamo and eight other individuals last March 4.

R emulla also confirmed that Marvin Miranda, one of the alleged masterminds in the Degamo killing, would be included in the terror tag. “He is part of the core group. What others call a terrorist cell. He is one of them,” Remulla said.

Remulla explained that the killing of Degamo, the highest locally elected official in the country, had instilled fear in most people in Negros Oriental.   He pointed out that it would take “a different kind of a person, a different kind of character, and probably a different kind of organization” to carry out the brazen killing of Degamo and eight civilians.

T he justice chief added that the Department of Justice (DOJ) is still verifying all the details involving these individuals, which he said would take some time.

“We just have to work or keep working on it. As I have said, this really entails a lot of patience.

That’s why when the senators asked if there is a warrant of arrest, there is none. But we will come up with it at the proper time,” Remulla said.

He also disclosed that a helicopter allegedly owned by Teves and was reportedly used to transport the suspects out of Negros Oriental has been recovered by authorities.

He said the use of Teves helicopter to whisk some of the suspects out of the province has reinforced the belief that the suspended lawmaker was indeed involved in the Degamo slay case.

doctoral degree course, applicants must be college graduate with 16 years of formal education and of good academic standing, under 35 years old and must present clear and feasible research proposal.

T he research would take two to five years of study in the field of social sciences, humanities and natural sciences. Applicants applying for a specific field must have the same field that he or she majored in college.

Undergraduate students applying for research must be under 25 years old and high school graduates of good academic standing. Applicants may pursue social sciences and natural sciences.

A pplicants for the Specialized Training College category must be high school graduates of good academic standing, under 25 years old and may pursue technology, personal care and nutrition, education and welfare, business, fashion and

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R. Mar-

cos Jr. said the government is studying proposals to bring back the school break to March. He made the statement in response to calls from some groups to revert the school calendar to its pre-pandemic version after some students suffered heat exhaustion during their summer classes.

We are now studying that because many are saying we do that because the lockdowns have ended and many schools are now returning to faceto-face classes,” the President said in Filipino during his interview with broadcaster and former Social Welfare Secretary Erwin T. Tulfo on Monday.

Currently, the school calendar starts every August and ends in July the following year.

home economics, culture and general education. This category would take three years of study.

For the College of Technology, applicants must be high school graduate of good academic standing, under 25 years old and may pursue mechanical engineering, electrical and electronic engineering, information, communication and network engineering, materials engineering, architecture and civil engineering and maritime engineering. The course would take four to 4.5 years of study.

Application forms and other detailed information may be viewed and downloaded from the Japanese embassy web site: https://www.ph.embjapan.go.jp/itpr_en/00_000193.html

The deadline for submission of applications is on May 26 and only physical documents mailed through courier or hand-delivered to the embassy would be accepted, the embassy statement said.

THE Philippine Chamber of Commerce and Industry (PCCI) said over the weekend that the country could attract more foreign investments if the administration of President Ferdinand R. Marcos Jr. can ensure the availability and affordability of raw materials for the manufacture of goods, especially for food and beverages.

P CCI President George Barcelon said he has discussed the importance of ensuring steady supply of essential ingredients with President Ferdinand R. Marcos Jr. not only to attract foreign investments but also to ensure lower prices of consumer goods.

“ We should be more open to importing ingredients that go into food manufacturing and rationalize it to make foreign investors realize that there is great potential in investing in the country,” he said.

“ That’s something we end up discussing with President BBM during our many trips abroad,” Barcelon added.

I n particular, the PCCI head cited the case of high sugar prices that puts local food manufacturers at a disadvantage compared with our neighbors in the Asean region.

“Definitely with the high cost of sugar, that puts our local manufacturing at a disadvantage,” he noted. Barcelon cited as an example a popular 3-in-1 coffee brand that has captured a huge chunk of the domestic market because it is manufactured in Indonesia where the price of sugar is much cheaper.

“ The international market price for sugar as we all know is below P40, but here it’s still somewhere double the price internationally,” he said.

Before the start of the pandemic, the school calendar started from June and ended in March.

Earlier, this month the Department of Education (DepEd) announced it created a group to review if there is a need to change once again the school calendar.

I think the discussion and decision on that [will come out] very soon on what will be the correct [option],” Marcos said.

T he President said a major consideration for the decision of DepEd on the matter would be the predictability of the seasons amid climate change.

He noted the change in climate has resulted in abrupt changes in the country’s seasons.

That is the problem there on whether it will be reverted or not— it’s hard to predict when it will start to rain and when it will be hot,” Marcos said.

“Another effect, the price of finished food that needs sugar to be processed is high, and the consumers are taking the brunt, especially the poor and marginalized,” he noted. “And inflation could be lower if the price of ingredients can be lowered.”

B arcelon also said manufacturers could not plan for expansion, and consequently the hiring of new workers, because of the uncertainty in the supply of affordable ingredients.

“In manufacturing, the purchase of raw materials is planned months ahead, not at the last minute,” he said. “There is planning involved, so it has a detrimental effect on the job side.”

To sustain economic growth, we should attract more foreign investors. Otherwise, they may opt to invest in other countries that are efficient in helping their own industry players,” Barcelon said.

Govt studying option to move school break due to hot weather, Covid-19

South Korea restores Japan on ‘white list’

By Kim Tong-Hyung The Associated Press

Myanmar’s top poll official assassinated by guerrillas

By Grant Peck The Associated Press

BANGKOK—A top election official in Myanmar was fatally shot in his car in Yangon, the country’s commercial capital, in the latest attack attributed to militants opposed to military rule.

Sai Kyaw Thu, deputy directorgeneral of the military-appointed Union Election Commission, was shot multiple times on Saturday, according to the military’s information office, media reports and a statement of responsibility from an urban guerrilla group.

The information office on Sunday said the attack was carried out by the People’s Defense Force, the loosely organized armed wing of the pro-democracy National Unity Government, an underground group that opposes the militaryinstalled government that was established when the army seized power two years ago.

military-linked Mytel telecommunications company was fatally shot on a Yangon street. Than Than Swe, then a deputy governor of Myanmar’s Central Bank, was shot at her home in Yangon in April 2022. She survived and was promoted to the bank governor. Most recently, a veteran corporate lawyer accused of helping military leaders was shot dead in Yangon by self-proclaimed urban guerrillas in March.

After its takeover, the army clamped down harshly on opponents in the cities, arresting thousands and using deadly force even against nonviolent demonstrators. The repression, which has now accounted for more than 3,400 civilian deaths, triggered widespread armed resistance.

In announcing the move through a government gazette, South Korea’s Ministry of Trade, Industry and Energy also said Seoul will further restrict technology and industrial exports to Russia and its ally Belarus to support the US-led pressure campaign against Moscow over the war in Ukraine.

After years of friction, Seoul and Tokyo are working to repair relations as they tighten their three-way security cooperation with Washington to counter the threat posed by North Korea.

Pyongyang has used the distractions caused by the war to accelerate testing of nuclearcapable missiles.

South Korean officials expect Tokyo to restore Seoul as a favored trade partner too, but expect that step to take more time based on the procedures to revise Japan’s export regulations.

In September 2019, South Korea dropped Japan from its “white list” of countries receiving fasttrack approvals in trade, reacting to a similar move by Tokyo. Japan had also tightened export controls on key chemicals South Korean companies use to make semiconductors and displays, prompting South Korea to file a

complaint with the World Trade Organization.

Seoul accused Tokyo of weaponizing trade to retaliate against South Korean court rulings that ordered Japanese companies to offer reparations to South Koreans forced into slave labor before the end of World War II, when Japan had colonized the Korean Peninsula. The 2018 rulings irked Japan, which insists all compensation issues were settled by a 1965 treaty that normalized relations. Relations between the US allies began to thaw in March when the government of South Korean President Yoon Suk Yeol, who took office in May 2022, announced plans to use South Korean funds to compensate the forced laborers without requiring Japanese contributions. Yoon traveled to Tokyo to meet with Japanese Prime Minster Fumio Kishida and they vowed to rebuild the countries’ security and economic ties.

Yoon’s push to mend ties with Tokyo has triggered criticism from some forced labor victims and from his political rivals. They have called for direct compensation from Japanese companies that employed the forced laborers. But Yoon has defended his decision, saying closer ties with

Japan are essential for dealing with a slew of regional challenges, especially North Korea’s growing nuclear threat.

Following the Yoon-Kishida summit, South Korea withdrew its complaint at the WTO against Japan as Tokyo simultaneously confirmed its removal of export controls over a set of chemicals seen as vital to South Korea’s technology industry. The Japanese restrictions had covered fluorinated polyimides, which are used in organic light-emitting diode (OLED) screens for TVs and smartphones, and photoresist and hydrogen fluoride, used for making semiconductors. With Japan’s status restored, South Korea now provides preferential treatment to 29 countries—including the United States, Britain and France—over exports of sensitive “strategic” materials that can be used for both civilian and military purposes.

South Korea divides its trade partners into two groups in managing export approvals of sensitive materials. The waiting period is usually five days for white-list

nations, while other countries are required to go through caseby-case reviews that can take up to 15 days.

In announcing its new regulations over exports of strategic materials, the South Korean trade ministry also said the country will place hundreds more industrial products and components under its export restrictions against Russia and Belarus beginning this week.

Seoul’s controls so far have covered 57 items, including those related to electronics and shipbuilding, with authorities banning their shipments to Russia and Belarus unless the companies obtain special approvals. The list will increase to 798 items beginning Friday, including exports related to construction, machinery, steelmaking, automobiles, semiconductors and advanced computing.

“[We] plan to work with relevant ministries to strengthen crackdowns and enforcement to prevent [the restricted items] from reaching Russia or Belarus through third countries,” the ministry said in a statement.

Many opposition forces including local People’s Defense Force groups operate autonomously from the National Unity Government but the military labels them all as “terrorists.”

A resistance group calling itself

“For The Yangon” said it carried out the attack on Sai Kyaw Thu, a former lieutenant colonel. It declared “Mission: Accomplished” in a Facebook post on Saturday evening that was illustrated with three photos of their target.

Sai Kyaw Thu is believed to be the most senior official of the Election Commission to be shot since the army seized power on February 1, 2021, from the elected government of Aung San Suu Kyi.

Resistance groups earlier this year attempted to disrupt preparations for a new election the military had promised by attacking personnel conducting a population survey that could be used to assemble voter rolls and other low-level election workers. Plans for the polls, whose date was never set, were set back indefinitely in February when the military government announced it was extending a state of emergency due to security problems.

Urban guerrillas have carried out many targeted killings, acts of arson and small bombings. Victims included officials and members of the military and their cronies, as well as people believed to be informers or military collaborators.

In November 2021, a former navy officer who was the chief finance officer of Myanmar’s

The military dismissed the members of the previous election commission—which had ratified the victory of Suu Kyi’s party in a November 2020 general election— and appointed new ones. It also detained several members of the old commission, and according to reports in independent Myanmar media, pressured them to say there had been election fraud.

The new military-appointed commission declared the 2020 election results invalid and prosecuted Suu Kyi and 15 other senior political figures for alleged fraud.

In the statement, “For The Yangon” claimed Sai Kyaw Thu had been a plaintiff in the election fraud case against Suu Kyi. She and ousted President Win Myint and the former minister of the president’s office, Min Thu, received three-year sentences in September last year in that case.

A member of guerrilla group said in a text message on Sunday that Sai Kyaw Thu was assassinated “for being the deputy directorgeneral of the illegal election commission of the military council, which disrespected the votes of the people in 2020 general election and abused the people unjustly, and also for being the one who falsely prosecuted President Win Myint and Aung San Suu Kyi as an accessory of the military council.”

“The one who insults the public will be punished by the people,” said the member of group, who spoke on condition of anonymity because he fears arrest by the authorities.

According to reports in Myanmar’s independent media, Sai Kyaw Thu was cross-examined as a prosecution witness in the trials against Suu Kyi last year.

UKRAINIAN TROOP POSITIONS SPARK COUNTEROFFENSIVE SPECULATION

By David Rising & Joanna Kozlowska

The Associated Press

KYIV, Ukraine—Ukrainian military forces have successfully established positions on the eastern side of the Dnieper River, according to a new analysis, giving rise to speculation Sunday that the advances could be an early sign of Kyiv’s long-awaited spring counteroffensive.

The Institute for the Study of War, a Washington-based think tank, reported late Saturday that geolocated footage from pro-Kremlin military bloggers indicated that Ukrainian troops had established a foothold near the town of Oleshky, along with “stable supply lines” to their positions.

Analysts widely believe that if Ukraine goes ahead with a spring counteroffensive, a major goal would be to break through the land corridor between Russia and the annexed Crimean Peninsula, which would necessitate crossing the Dnieper River in the country’s south.

Responding to Ukrainian media reports proclaiming that the establishment of such positions indicated the counteroffensive had begun, Natalia Humeniuk, the spokeswoman for Ukraine’s Operational Command South, called for patience.

While neither confirming nor denying the ISW report, she said only that details of military operations in the Dnieper delta

couldn’t be disclosed for operational and security reasons.

Speaking on Ukrainian television, Humeniuk added that it was “very difficult work” when “it’s necessary to overcome an obstacle such as the Dnieper, when the front line passes through a wide and powerful river.”

The Kremlin-installed head of the Kherson region, one of four parts of Ukraine that Russia said it was illegally annexing in September, denied on Sunday that Ukrainian forces have established a foothold on the east bank of the Dnieper.

In a Telegram update, Vladimir Saldo said that Russian forces are “in full control” of the area, and speculated that the images referenced by the ISW may have depicted Ukrainian sabotage units that “managed to take a selfie” across the Dnieper before being forced back.

After more than a year since the Russian invasion, recent fighting has become a war of attrition, with neither side able to gain momentum.

But Ukraine has recently received sophisticated weapons from its Western allies, and new troops freshly trained in the West, giving rise to growing anticipation of a counteroffensive.

American-made Patriot missiles arrived in Ukraine last week and military spokesman Yuriy Ihnat said Sunday on Ukrainian television that some have already gone into battlefield service.

The US agreed in October to send the surface-to-air systems, which can target aircraft, cruise missiles and shorter-range ballistic missiles such as those that Russia has used to bombard residential areas and the Ukrainian power grid.

The fiercest battles have been in the eastern Donetsk region, where Russia is struggling to encircle the city of Bakhmut in the face of dogged Ukrainian defense.

On Sunday, Russian Defense Ministry spokesman Igor Konashenkov claimed Moscow’s forces had captured two more neighborhoods in the western part of Bakhmut, without providing further details or clarifying what areas were still

in Ukrainian hands.

In the south, the Dnieper has for months marked the contact line in the Kherson region, where its namesake capital is regularly pummeled by shelling from Russian forces stationed across the river.

In addition to having established a foothold near the town of Oleshky, across the Dnieper delta from Kherson, ISW said that Ukrainian troops were also approaching the nearby village of Dachi, citing data from Russian military bloggers.

In Telegram posts on Thursday and Saturday, ISW said the bloggers claimed that Ukrainian forces had maintained these positions for weeks and established stable

supply lines to them, indicating a lack of Russian control over the area.

The Associated Press confirmed the posts from the bloggers, but it wasn’t immediately possible to independently verify the data they shared.

Russia is also expected to launch more intensive attacks in the spring, but ISW reported that top Russian defense figures are showing signs that they may be pushing for a consolidation of existing gains in Ukraine, rather than costly new operations, as Moscow struggles with both material and manpower.

The think tank cited comments from financier Yevgeniy Prigozhin, the head of the Wagner Group—a private Russian military company whose fighters have spearheaded the offensive on Bakhmut.

On Saturday, Prigozhin’s press service posted comments he made on its official Telegram channel in which he argued that Russian forces need to “anchor [themselves] in such a way that it is only possible to tear them out with [the] opponent’s claws.”

The interview was published shortly after Western leaders meeting at the Ramstein Air Base in Germany pledged to train more Ukrainian personnel and keep up their military support for Kyiv.

As Moscow seeks to bolster its troop numbers, the UK Ministry of Defense noted Sunday in an intelligence briefing that Russian authorities had mounted a large-scale military recruitment campaign using social media,

billboards and state television.

It said Russian officials are “almost certainly seeking to delay any new, overt mandatory mobilization for as long as possible to minimize domestic dissent,” while assessing that this latest effort would likely fail to meet the defense ministry’s stated goal of recruiting 400,000 new volunteers.

In attacks overnight, local authorities in eastern Ukraine reported that Russian forces had launched at least five S-300 missiles at Kharkiv, the country’s second-largest city and the surrounding region.

The missiles damaged an industrial facility and private homes but caused no casualties, according to Oleh Syniehubov, the Kharkiv regional governor.

In Kherson, one civilian was killed and two were wounded as Russian troops used artillery, drones and warplanes to launch a total of 54 strikes on the province, Gov. Oleksandr Prokudin said on Telegram on Sunday morning.

Russian forces on Saturday and overnight also dropped five guided aerial bombs over the Kherson region, Ukraine’s Operational Command South said in a Facebook post Sunday. According to the post, the bombs were launched from drones and aircraft and damaged multiple residential buildings, but caused no casualties.

SEOUL, South Korea—South Korea formally restored Japan to its list of countries it gives preferential treatment in trade on Monday, three years after the neighbors downgraded each other’s trade status amid a diplomatic row fueled by historical grievances.

SOUTH KOREAN President Yoon Suk Yeol, left, and Japanese Prime Minister Fumio Kishida shake hands ahead of their bilateral meeting at the prime minister’s office in Tokyo on March 16, 2023. South Korea on Monday, April 24, 2023, has formally restored Japan to its list of countries it gives preferential treatment in trade, three years after the neighbors downgraded each other’s trade status amid a diplomatic row over historical grievances. KIYOSHI OTA/POOL PHOTO VIA AP

Joanna Kozlowska reported from London.

A GENERAL view of Bakhmut, the site of heavy battles with Russian troops in the Donetsk region, Ukraine, on Friday, April 21, 2023. IRYNA RYBAKOVA VIA AP

The World

Diplomats flee Sudan fighting as citizens struggle to escape

311 people to Jordan so far, from where an onward journey is being organized.

Russia’s war in Ukraine puts focus on huge Korean artillery stockpiles

By Jon Herskovitz

HALF a world away from the front line of Russia’s war in Ukraine

there’s a stockpile of probably more than a million artillery shells on the Korean peninsula—a hoard that’s drawing attention as South Korea’s leader heads to Washington.

President Yoon Suk Yeol has indicated his government may be open to changing its policy about providing lethal aid to Ukraine under certain conditions. That would be welcome news for US President Joe Biden, who has been seeking help from partners to ease Kyiv’s perennial ammunition shortage.

Yoon’s office said any decision to send lethal aid depends on how far Russia goes in stepping up attacks on civilians. Yoon is due to meet Biden for a state visit on Wednesday, with security and economic cooperation high on the agenda.

One factor weighing on Yoon will be whether a decision by Seoul to move closer to Kyiv in the conflict would be met by Russian President Vladimir Putin increasing military cooperation with North Korea, said Soo Kim, a former Korea analyst at the US Central Intelligence Agency, who now works at US-based management consulting firm LMI.

The Kremlin has said that if South Korea supplies arms to Ukraine it would make it a participant in the conflict, with former Russian president Dmitry Medvedev suggesting Moscow could respond by selling advanced weaponry to North Korea, according to a Tass report.

“The question is whether Yoon takes Putin’s threat seriously, and whether he thinks a Russian retaliation would be as consequential as Putin makes it out to be,” Kim said.

Ukrainian President Volodymyr Zelenskyy has long sought weapons from South Korea and even made a personal appeal for the aid when he spoke to the South Korean parliament in April last year.

The Koreas have two of the world’s largest artillery forces, with thousands of big guns pointing at each other across the demilitarized zone that separates them. They have stockpiled hundreds of thousands of shells that include North Korean artillery inter-operable with Soviet-era artillery in Russia, and South Korean 155 mm caliber shells, which are the standard used by the Nato countries supplying Ukraine.

South Korean Defense Ministry officials would not comment on the number of munitions it has in stock for security reasons and North Korea does not release that sort of information to the outside world.

“You can bet the stocks of both North and South easily exceed a million shells of differing types,” said Joost Oliemans, a weapons expert who coauthored the book The Armed Forces of North Korea. “Both operate many thousands of artillery pieces, which, even without being restocked, would necessitate hundreds of thousands of shells,” he said.

The New York Times reported that leaked intelligence documents posted on social last month showed Seoul was also looking at selling 330,000 rounds of 155 mm artillery shells to Poland. The paper said the documents showed a debate within the Yoon government between bowing to US pressure to help supply Ukraine and the nation’s official policy of not providing weapons to countries at war.

South Korea’s DongA Ilbo newspaper reported earlier this month that the Yoon administration could lease about 500,000 155 mm shells to the US, which could be used to indirectly supply Ukraine. Yoon’s government downplayed the reports, suggesting the documents didn’t reveal sensitive information and had parts that were fabricated.

Oliemans said the notion of the US purchasing directly, loaning or acquiring the shells through Poland is “probably the most direct way South Korea could influence Ukraine’s long-awaited spring offensive and the war in the near term, barring a sudden willingness to deliver armaments such as advanced air defenses.”

Meanwhile, North Korea’s huge stockpile of artillery has apparently attracted the attention of Russia.

The US has accused Kim Jong Un’s regime of providing arms and ammunition to aid Putin’s war, including sending shells and rockets. While the Biden administration said the weapons won’t do much to alter the battlefield situation, the sales would open a new stream of revenue to a country isolated from much of world trade.

Some North Korean items likely on Putin’s wish list would be 122 mm and 152 mm artillery rounds as well as 122 mm rockets. The government in Pyongyang has denounced the charges as groundless rumors.

Growing arms sales

WHILE Seoul may not be officially sending arms to Ukraine, Russia’s war has opened a door for South Korea’s defense exports, which were on track to more than double in 2022 as buyers including countries in Europe seek to replace Soviet-era weaponry with higher tech arms. In December, Poland received 10 K2 tanks and 24 self-propelled K9 howitzers, the first part of an almost $6 billion agreement reached in August with Hyundai Rotem Co. and Hanwha Defense Systems Corp.  Washington seems to be giving the green light to South Korea to sell to states in places like eastern Europe as US defense contractors race to fill orders for weapons that will go to Kyiv and Taipei, which is facing threats from China. With assistance from Jeong-Ho Lee and Shinhye Kang/ Bloomberg

While world powers like the US and Britain airlifted their diplomats from the capital of Khartoum, Sudanese desperately sought to flee the chaos. Many risked dangerous roads to cross the northern border into Egypt.

“My family—my mother, my siblings and my nephews—are on the road from Sudan to Cairo through Aswan,” prominent Sudanese filmmaker Amjad Abual-Ala wrote on Facebook.

Fighting raged in Omdurman, a city across the Nile River from Khartoum, residents said, despite a hoped-for cease-fire to coincide with the three-day Muslim holiday of Eid al-Fitr.

“We did not see such a truce,” Amin al-Tayed said from his home near state TV headquarters in Omdurman, adding that heavy gunfire and thundering explosions rocked the city.

Over 420 people, including 264 civilians, have been killed and over 3,700 wounded in fighting between the Sudanese armed forces and the powerful paramilitary group known as the Rapid Support Forces. The RSF said the armed forces unleashed airstrikes on the upscale neighborhood of Kafouri, north of Khartoum. There was no immediate army comment.

The ongoing violence has affected operations at the main international airport, destroying civilian planes and damaging at least one runway, and thick, black smoke rose above it. Other airports also have been knocked out of operation.

European Union foreign policy chief Josep Borrell tweeted he had spoken with the rival commanders, urging an immediate ceasefire to protect civilians and the evacuation of EU citizens.

In other fighting, a senior military official said it repelled an RSF attack on Kober Prison in Khartoum where Sudan’s longtime ruler, Omar al-Bashir, and former officials in his movement have been held since his 2019 ouster. The official, who spoke on condition of anonymity because he

was not authorized to talk to the media, said a number of prisoners fled but al-Bashir and other highprofile inmates were in a “highly secure” area, adding that “a few prisoners” were killed or wounded.

The RSF claimed the military removed al-Bashir and other prisoners from the facility, although the statement could not be independently confirmed.

The Arqin border crossing with Egypt was crowded with about 30 passenger buses of at least 55 people each, said Suliman al-Kouni, an Egyptian student who fled northward from Khartoum with dozens of other students.

“We traveled 15 hours on land at our own risk,” al-Kouni told The Associated Press by phone. “But many of our friends are still trapped in Sudan.”

Sudan experienced a “near-total collapse” of Internet and phone service Sunday, according to the monitoring service NetBlocks.

“It’s possible that infrastructure has been damaged or sabotaged,” said Netblocks director Alp Toker. “This will have a major effect on residents’ ability to stay safe and will impact the evacuation programs that are ongoing.”

After a week of battles that hindered rescues, US Special Forces swiftly evacuated 70 US Embassy staffers from Khartoum to Ethiopia early Sunday. Although American officials said it was too dangerous for a government-coordinated evacuation of thousands of private citizens, other countries scrambled to remove their citizens as well as their diplomats.

France and Italy said they would accommodate all their citizens who want to leave, as well as those of other countries who could not otherwise join an evacuation operation.

Germany said early Monday that a military plane carrying 101 German diplomatic staff, family members and citizens of partner countries who were evacuated from Sudan via Jordan has landed safely in Berlin. The military said it had brought

A Dutch air force C-130 Hercules flew out of Sudan to Jordan early Monday carrying evacuees of various nationalities, including Dutch. The French Foreign Ministry said Monday it has so far brought four flights from Sudan to Djibouti, with a total of 388 people—citizens of 28 countries of Europe, Asia, North America and Africa, including Sudan.

An Italian air force C-130 that left Khartoum with evacuees landed Sunday night at an air base in Djibouti, the Defense Ministry said. Another plane, carrying Italy’s ambassador and military personnel involved in the evacuation, was expected in Djibouti later in the night.

About 100 people were flown out of Khartoum by Spanish military aircraft—more than 30 Spaniards and the rest from Portugal, Italy, Poland, Ireland, Mexico, Venezuela, Colombia and Argentina, the foreign ministry said.

Officials in Jordan said four planes landed at Amman military airport carrying 343 Jordanian evacuees from Port Sudan. Other flights from Sudan were organized by Greece and the Netherlands.

British Prime Minister Rishi Sunak tweeted that UK armed forces evacuated British diplomatic staff and dependents “amid a significant escalation in violence and threats.”

Overland travel through contested areas was possible but dangerous. Khartoum is about 840 kilometers (520 miles) from Port Sudan on the Red Sea.

On Saturday, Saudi Arabia said it evacuated 157 people, including 91 Saudi nationals and citizens of other countries. Saudi state TV showed a large convoy of cars and buses from Khartoum to Port Sudan, where a navy ship took them to the Saudi port of Jeddah.

Fighters attacked a US Embassy convoy last week, and stormed the home of the EU ambassador. Violence wounded an Egyptian Embassy employee in Sudan, according to Egypt’s Foreign Ministry spokesman Ahmed Abu Zaid.

Egypt, which said it had over 10,000 citizens in Sudan, urged those in cities other than Khartoum to head to consular offices in Port Sudan and Wadi Halfa in the north for evacuation, the staterun MENA news agency reported.

The power struggle between the Sudanese military, led by Gen. Abdel-Fattah Burhan, and the RSF, led by Gen. Mohammed Hamdan

Dagalo, has dealt a harsh blow to Sudan’s hopes for a democratic transition. The rival generals came to power after a pro-democracy uprising led to the ouster of the former strongman, al-Bashir. In 2021, the generals joined forces to seize power in a coup.

The current violence came after Burhan and Dagalo fell out over a recent internationally brokered deal with democracy activists that was meant to incorporate the RSF into the military and eventually lead to civilian rule.

Both generals, each craving international legitimacy, have accused the other of obstructing the evacuations. The Sudanese military alleged the RSF opened fire on a French convoy, wounding a French national. The RSF countered it came under attack by warplanes as French citizens and diplomats left the embassy for Omdurman, saying the military’s strikes “endangered the lives of French nationals.” Hospitals have struggled as violence rages. Many wounded are stranded by the fighting, according to the Sudan Doctors’ Syndicate that monitors casualties, suggesting the death toll is probably higher than what is known.

The Italian medical group Emergency said 46 of its staff refused to leave, working in hospitals in Khartoum, Nyala and Port Sudan.

Thousands of Sudanese have fled fighting in Khartoum and elsewhere, UN agencies said, but millions are sheltering in their homes amid explosions, gunfire and looting without adequate electricity, food or water.

In the western region of Darfur, up to 20,000 people left for neighboring Chad. War is not new to Darfur, where ethnically motivated violence has killed up to 300,000 people since 2003. But Sudan is not used to such heavy fighting in its capital, which “has become a ghost city,” said Atiya Abdalla Atiya of the Doctors’ Syndicate.

Khalid Omar, a spokesman for the pro-democracy bloc that seeks to restore civilian rule, urged both generals to resolve their differences. “There is an opportunity to stop this war and put the county on the right path,” he wrote on Facebook. “This is a war fueled by groups from the deposed regime who want it to continue.”

The Associated Press writers Isabel DeBre in Jerusalem, Samy Magdy in Cairo, Michael Corder in The Hague, Netherlands, Angela Charlton in Paris, Frances D’Emilio in Rome and Fay Abuelgasim in Beirut contributed.

Mexico president tests positive for coronavirus for third time

MEXICO CITY—Mexico’s president suspended a tour of the Yucatan peninsula Sunday after acknowledging he tested positive for the coronavirus, having previously suffered two bouts of Covid-19.

President Andrés Manuel López Obrador wrote in his social media accounts that “it isn’t serious.”

The comment followed reports in the local press that López Obrador felt faint Sunday morning and had to cancel his tour, something his presidential spokesman denied.

López Obrador, 69, who has acknowledged a history of heart problems, wrote that he would isolate for “a few days” in Mexico City.

“My heart is 100 percent and as I have had to suspend the tour,

I will be in Mexico City and celebrating, although from afar, the 16th birthday of (his son) Jesús Ernesto,” he wrote.

López Obrador was ill with Covid-19 in early 2021 and recovered after receiving what he described at the time as an experimental treatment. In January 2022, he announced he had come down with Covid-19 a second time, amid a spike in coronavirus infections in Mexico.

López Obrador declined to enact mandatory mask mandates and he refused to wear a mask even at the peak of the pandemic unless it was absolutely necessary, as on airline flights. He famously refused to use Mexico’s presidential jet, which he recently announced had been sold to Tajikistan.

Presidential spokesman Jesús Ramírez did not immediately respond to a question about whether the president would return to Mexico City aboard a commercial airline flight.

The president said that while he remains in isolation, Interior Secretary Adán Augusto López will fill in at the daily presidential morning news briefings. That could provide a boost for the interior secretary’s flagging campaign to win the presidential nomination of López Obrador’s Morena party for the 2024 elections. López, who is not related to the president, currently trails Mexico City Mayor Claudia Sheinbaum in most polls on the primary race.

KHARTOUM, Sudan—Foreign governments evacuated diplomats, staff and others from Sudan on Sunday as rival generals battled for a ninth day with no sign of a truce that had been declared for a major Muslim holiday.

THE Koreas have two of the world’s largest artillery forces, with thousands of big guns pointing at each other across the demilitarized zone that separates them. BLOOMBERG

MEXICAN President Andres Lopez Obrador stands at the National Palace during a ceremony in Mexico City on September 20, 2022. Lopez Obrador suspended a tour of the Yucatan peninsula Sunday, April 23, 2023, after acknowledging he tested positive for the coronavirus, having previously suffered two bouts of Covid-19. AP/MARCO UGARTE

Ways to prevent heat exhaustion in summer

Heat stroke is the most serious heat-related illness. this can happen when the body overheats during a heat wave or in a hot climate. this potentially fatal condition is a result of prolonged heat exposure or physical exertion, when the body’s core temperature reaches 40 degrees Celsius (104 degrees Fahrenheit) or higher. Heat stroke needs immediate first aid to lower body temperature as quickly as possible. If not, it can lead to organ damage and death.

The World Health Organization said population exposure to heat is increasing due to climate change, and this trend will continue. Globally, extreme temperature events are observed to be increasing in their frequency, duration, and magnitude. Climate scientists said that by the end of the century, parts of Southeast Asia, Pakistan, India, the Persian Gulf and Central America will experience maximum humidity levels at temperatures over 35 degrees Celsius much more often.

The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said Friday that the heat index in Metro Manila will likely reach 50 degrees Celsius on Saturday. Heat index is what the temperature feels like to the human body when relative humidity is combined with the air temperature.

Pagasa’s 50 degrees Celsius prediction is the highest in its five-day heat index monitoring that began on April 21, based on the forecast of its Science Garden station in Quezon City.

Luckily for residents in the metropolis, an intermittent drizzle on Saturday afternoon was just enough to ease their suffering from suffocating heat.

Bloomberg report on Thursday: “Scorching temperatures are roasting Asia this week, stretching the region’s power grids and raising health risks as the chances of more extreme events later in the year increase. The worst drought in a decade is impacting a key Chinese aluminum hub, while searing temperatures in India have increased the possibility of deadly heat waves and blackouts.”

Bloomberg said Thailand hit a national record of more than 45 degrees Celsius (113F) last week, while countries such as Bangladesh are also seeing April temperatures well above 40 degrees Celsius. “Record heat in Thailand, China and South Asia is a clear climate trend and will cause public health challenges for years to come,” said Fahad Saeed, an Islamabad-based scientist with Climate Analytics.

The Associated Press reported last week that climate change is causing more “heat stress” in Europe. The European Commission’s Copernicus Climate Change Service said comparisons of data going back over decades show record heat last year resulted in hazardous conditions for human health.

“Southern Europe experienced a record number of days with ‘very strong heat stress’,” defined as temperatures from 38 to 46 degrees Celsius (100 to 115 degrees Fahrenheit), it said. The number of summer days with “strong” (32 to 38 Celsius) or “very strong” heat stress is rising across the continent, while in southern Europe this is also the case for “extreme heat stress” days above 46 Celsius, Copernicus said.

Heat stress is increasingly viewed as a significant issue worldwide as the planet warms due to human-made climate change. Experts say it can cause a wide range of health problems, including rashes, dehydration and heat stroke.

The World Health Organization has issued health guidance for the public on coping with extreme heat: Avoid going outside during the hottest time of the day; avoid strenuous physical activity as much as possible; take cool showers or baths; drink water or fruit juice to rehydrate and avoid alcohol and too much caffeine and sugar; eat small meals and eat more often; and try to get help if you feel dizzy, weak, anxious or have intense thirst and headache.

Pagasa has been predicting high heat indices in the country. People should stay out of the sun to avoid getting heat exhaustion or heat stroke. People can avoid heat stress by limiting outdoor activity to when it’s coolest, like morning and evening hours.

Extremely hot weather has pushed the Department of Education to remind heads of public and private schools nationwide that they have the authority to suspend or cancel in-person classes and instead implement modular distance learning modes. A teachers’ group, on the other hand, is pushing for shortened teaching time and smaller class sizes to address the extreme heat during summer. Public and private entities with field personnel would do well to follow the MMDA’s policy of giving traffic employees a 30-minute “heat stroke break” as precaution against heat-triggered illness from the scorching weather. It pays to adopt preventive measures to reduce heat stress among outdoor workers. As a wise man once said, “if you take care of your employees, they will take care of your business.”

Revenge spending boosting economy

Manny B. Villar

THE EnTrEprEnEur

MOSt businesses reported strong recovery in 2022 as the socalled consumers’ revenge spending lifted sales. this phenomenon continued in the first quarter of 2023 and will likely persist if we can keep Covid cases manageable, without resorting to border restrictions again.

While the government lifted the mask mandate, it would be wise for many of us to continue wearing face masks, especially in public places, so that we could avoid spreading the disease. It is better to wear masks than being stuck in our homes or isolation centers again.

As restrictions eased last year, Filipino consumers were eager to go out and spend for shopping, dining and travel. The increased spending helped many establishments reopen and rehire employees. More people were employed and their salaries recirculated in communities that lifted the economy. A major restaurant chain, for example, posted an alltime high net income in 2022, fueled by the resurgence in dine-in sales as people went out of their homes.

Many other industries have benefited from revenge spending. It lifted the income and revenues of restaurants, banks, retailers, property developers, transportation companies, tourism establishments, car dealers, utilities and even governmentowned and controlled corporations.

One industry that felt the full impact of economic reopening is tourism. Per the Department of Tourism, international visitor arrivals jumped by more than 10 times in the first quarter of 2023 to 1.39 million from just 102,031 in the same period in 2021 when border restrictions were still in place.

The DOT now expects to welcome 4.8 million visitors in 2023, up from 2.65 million in 2022 from just 163,879 in 2021 and 1.48 million in 2020. Of course, we still have a long way to match the 8.26 million arrivals registered in 2019 before the onset of the pandemic.

Filipinos are also now traveling abroad. VFS Global, an outsourcing and technology services provider for the travel sector, reported that the number of visa applications in the Philippines this year is now close to pre-pandemic levels because of easing health protocols not only in the country but also overseas.

Domestic tourism is on its way to a full recovery, with local airlines reporting flights that were full during

the Holy Week. Philippine Airlines, Cebu Pacific and AirAsia reopened international and local routes as they expect travel bookings to pick up in the coming months. PAL, for one, reported an average passenger load factor of 80 percent in the first quarter of 2023, which is a healthy signal for its financial performance.

Hotels and resorts were also buoyant, with many of them full to the brim this hot dry season.  The recovery transcends tourism and spills over to the property sector, with the residential, commercial and industrial spaces announcing strong demand. Real estate prices were recovering, and developers began to upscale their offerings with bigger lot sizes and floor areas in response to the lessons from the pandemic.

Developers are bullish because of robust demand, stable economy and a vibrant banking sector—all made possible by the growth momentum, return to “normalcy” and revenge spending. Demand for office space is also picking up as many employees return to work after more than two years of working from home or adopting a hybrid setup.

The IT & Business Process Association of the Philippines, a group of BPO companies, anticipates that more than 1 million employees will join the sector in the next five to six years. That will require an entire city of skyscrapers to accommodate.

Shopping malls and retail outlets also enjoyed brisk sales last year. A luxury retailer reported strong profit in 2022 on the back of a 54-percent increase in sales, which reflected Filipino consumers’ spending prowess. Both brick-and-mortar and e-

commerce sites registered higher sales in 2022.

Car sales shot up more than 30 percent in the first quarter of 2023, as the automotive industry took advantage of the thriving consumer demand for new vehicles.

As more cars were on the road, Nlex Corp., which operates the North Luzon Expressway and Subic-ClarkTarlac Expressway, posted a 35-percent growth in net income in 2022 as revenues rose 29 percent. Higher traffic figures because of revenge travel and toll rate adjustments boosted its bottom line.

The expansion of businesses and industries had a profound impact on the economy in terms of job generation. The Philippine Statistics Authority reported that employment in the country increased 3.32 percent to 48.8 million in February 2023 from 45.48 million a year earlier. The unemployment rate dropped to 4.8 percent from 6.4 percent in the same period.

The latest figures suggest that the labor market is steadily recovering following the lifting of various restrictions that previously impeded employment opportunities.

I am hoping that these positive data will continue as we avoid locking down the economy again to contain the spread of the virus. It may be too early to declare a victory against Covid-19 but our workers and the rest of the Filipinos showed that the battle can be won through discipline and a united effort.

For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar.com.ph

John Mangun

Go electric and go Chinese OuTSIDE THE BOX

tHe United States makes an excellent invader and a dreadful occupier. One exception might be the Philippines in part as the US left the recipe for spaghetti sauce with hot dog slices and the english language. Otherwise, their track record is rather dismal.

The justification for the Korean War was reasonable as the peninsula was divided between the USSR and the US after World War 2. Stalin approved the invasion of the south and the US was forced to respond in this proxy war as Soviet jets were flying combat missions in support of their Communist North Korean brothers in arms. But the war was a catastrophe of biblical proportions as it cost approximately 3 million war fatalities and a larger proportional civilian

death toll than World War II. But the post-ceasefire period has seen the South Korean economy boom while the resource rich north regress to “Caveman Status” and almost no political movement has been made in 70 years. That is not to say that the Americans are at fault for the generational stalemate—and both China and the USSR have enjoyed twisting the US over Korea— but maybe the US could have been a better “occupier.”

In 1823, President James Monroe promulgated his “Monroe Doctrine” that any intervention in the political affairs of the Americas by foreign powers is a potentially hostile act against the US. You might think that Central and South America having lived under the yoke of European colonialism would have then and would continue to welcome Uncle Sam protecting their interests.

Yet it is China in the 21st century that is welcomed as the benevolent “occupier” from Mexico to Argentina.

Nikkei Asia-January 2023: “The Bolivian government has chosen a Chinese consortium led by battery giant Contemporary Amperex Technology to invest upward of $1 billion to develop untapped lithium deposits, with the ambitious goal of producing lithium batteries in the country by 2025.” Bolivia has the richest known lithium deposits in the world, with an estimated 21 million tons, or 24 percent of the global total supply. US Department of State—2023: “There is no significant FDI from the

United States in Bolivia, and there are no initiatives designed to encourage US investment specifically.”

In late 2001, the United States invaded Afghanistan and ousted the Taliban government. After 20 years of “occupation,” the last of the US military forces withdrew on August 30, 2021, abandoning the Afghan National Army and since then the US has suspended operations of its Embassy in Kabul.

Islamic scholar Hibatullah Akhundzada who has led the Taliban since 2016 is now the “Supreme Leader of the Islamic Emirate of Afghanistan”. Speaking to worshippers at the start of the Eid al-Fitr festival, Akhundzada vowed “to keep ‘laws of infidels’ from Afghanistan.”

But “infidel” money is a separate issue.

A Chinese company, Gochin, has offered the Taliban $10 billion through a proposal to build key strategic infrastructure connecting north-south Afghanistan in

Four reasons why investors expect US dollar to keep sliding

By Simon Flint | Bloomberg Opinion

Professional investors see the dollar sliding even further from last year’s two-decade highs, as the market has underpriced the federal reserve’s oncoming easing cycle.

Some 87% of 331 survey respondents expect the Fed to cut interest rates to 3 percent or below—some significantly so—in a loosening cycle that 40 percent believe will start this year, according to the latest MLIV Pulse survey. That stands in contrast to market pricing that puts the implied policy rate around 3.05% in two years.

Correspondingly, professional investors are negative on the dollar, with a 17 percentage-point gap between bears and bulls. Many explicitly state that they are bearish because the yield path as priced is too high. Interestingly, the second most popular response is that banking sector stresses will largely be confined to the US, which further implies that the Fed will be forced to be more dovish than global peers.

Strange as it may appear at first glance, there’s indeed historical precedent for the Fed cutting sharply without other central banks following suit. During the tech bust in the early 2000s and the year leading up to the collapse of Lehman Brothers, US monetary policy diverged radically from global peers. In the case of the latter, the Fed cut by 325 basis points between August 2007 and April 2008, while the European Central Bank infamously hiked by 25 basis points in July 2008—and the dollar was very weak during this pre-Lehman period. But dollar pessimism is not purely a product of US problems. A surprisingly large cohort of investors believe that either yen or yuan appreciation will be the primary cause of dollar decline.

Why surprising? First, new Bank of Japan Governor Kazuo Ueda has so far done his best to be as boring as possible, offering little hope to those betting on an end to the super-loose policy that has driven yen weakness. That said, Ueda has a convenient window to scrap yield curve control while there is minimal pressure on

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exchange for access to the country’s lithium reserves. The Economic Times—April 15, 2023: “Acting minister for Mine and Petroleum, Shahabuddin Delawar, said Gochin stressed that the process of the lithium deposits will be done inside the country, and to process it, a hydroelectric dam will be built.”

But that is not all. Zimbabwe is home to Africa’s largest lithium reserves, which are also the fifth largest lithium reserves in the world. ESI Africa, March 23, 2023: “Zhejiang hu ayou Cobalt, Sinomine Resource Group, and Chengzin Lithium Groups have already invested $678 million into lithium projects in Zimbabwe, and have acquired controlling shareholdings in Zim-

local rates markets. If he chooses to act, this would likely lead to substantial yen appreciation — there is evidence that even small BOJ policy changes can have an out-sized impact on the currency.

Second, the Citigroup’s Economic Surprise Index for China rose close to the highest since 2006 this month and yet the yuan is up only about 1% against its trade-weighted basket so far in 2023. The yuan should rise, but it’s worrying that the currency has been almost impervious to good news, as it’s hard to imagine what more the nation can do to impress. Aside from ongoing geopolitical risk, it may simply be that investors need time to get used to the idea that the China trade is back.

De-dollarization?

ThE risk of a more generalized pivot away from the greenback is something that investors are giving serious consideration. A majority of respondents see the dollar making up less than half of global reserves within a decade.

On the other hand, there remain dollar bulls, particularly among the retail community. A clear majority of those greenback lovers believe that the Fed rate path is actually underpriced, confirming that getting the currency direction correct will ultimately boil down to nailing the policy call.

Interestingly, the risk of a debtceiling debacle passes almost unmentioned. however, few would dispute that today’s political environment is extremely acrimonious and risks are as high as they have been for many years. The showdown of 2011 is the best template to judge the likely market response to a serious mishap. Back then, yields fell significantly, yet the dollar rallied during this period as risk aversion dominated investors’ thoughts. With assistance from Cameron Crise / Bloomberg.

babwe lithium mines over the past few months.”

The White h o use, April 17, 2023: “As part of President Biden’s goal of having 50 percent of all new vehicle sales be electric by 2030, the White h o use is announcing public and private commitments to support America’s historic transition to electric vehicles. These commitments are part of President Biden’s Investing in America agenda to spur domestic manufacturing.”

No matter that someday the US may manufacture all its EV cars and batteries domestically, it will first be buying Chinese lithium that China obtained without ever firing a shot.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Landmark decision on renewable energy tax incentives

atty. irwin C. nidea Jr.

Tax law for business

The critical role of renewable energy in humanity’s future is more pronounced more than ever. el niño will be declared by Pagasa soon. The scorching heat has forced the Department of education to consider shortening class hours. it is not an ordinary summer heat that we are experiencing right now. The sun is bringing something extra.

That is why the Supreme Court’s (SC) landmark decision (CBK Case, published in April 2023) clarifying the tax incentives available to Renewable Energy Developers is very timely. Some of the questions bugging the industry were answered, i.e., when does an RE developer become entitled to tax incentives?; what documents and certifications should it secure to be entitled to 0 percent value-added tax?; can an RE developer choose not to register with the Department of Energy (DOE) under the RE Law and still be entitled to 0 percent VAT?

As to whether an RE developer’s registration with the DOE is a prerequisite for entitlement to the VAT incentive provided by the RE Law, the SC ruled that it is. Thus, an RE developer’s decision not to register with the DOE means that its transactions will be subject to 12 percent VAT. how can an RE developer that is not registered with the DOE recover the 12 percent VAT that was passed on to it by its suppliers? The SC held that sales of electricity generated through

renewable energy are subject to 0 percent VAT in accordance with Section 108(B)(7) of the Tax Code. Thus, the input VAT that is attributable to the sale of electricity may be claimed as tax refund. Note that in this case, the RE developer’s for refund must be anchored under the Tax Code and not under the RE Law. how about the RE developers that are duly certified by the DOE? Can they file a claim for VAT refund as well? As regards their local purchases of goods, properties and services that will be used for the development, construction and installation of their power plant facilities, they cannot claim for VAT refund since they must not have allowed VAT to be passed on to them, in the first place. This includes the whole process of exploring and developing renewable energy sources up to its conversion into power, including but not limited to the services performed by subcontractors and/or contractors.

According to the SC, the law provides that RE developers, local

manufacturers, fabricators, and suppliers of locally produced renewable energy equipment who register with the DOE shall be issued a certification by the Renewable Energy Management Bureau (REMB). This certification shall serve as basis for RE developers to avail themselves of the incentives identified, including VAT at zero rate. The SC added that the mere fact that an entity is an RE developer does not automatically entitle such entity to the incentives provided in the RE Law.

The law is clear that apart from the registration requirement imposed under Sections 15, 25, and 26, concerned government agencies tasked with administering the incentives provided under Republic Act 9513 can impose additional requirements. Unfortunately, the SC may not be aware that the REMB does not have a mechanism on how to issue the required certification.

The SC recognized that on June 22, 2022, the BIR promulgated Revenue Regulations No. 7-2022 on Tax Incentives Under the RE Law. The said RR mandates that RE developers and manufacturers, fabricators, and suppliers of locally produced RE equipment shall secure the following certifications/accreditations: DOE Certificate of Registration, DOE Certificate of Accreditation, Certificate of Endorsement by the DOE, Registration with the BOI, and Certificate of Income Tax holiday Entitlement.

Moreover, the BIR clarifies the following in RR No. 7-2022: Local suppliers/sellers of goods properties, and services of duly registered RE developers should not pass on the 12 percent VAT on the latter’s

settlement with Dominion unlikely to cost it $787.5 million

By Mae Anderson | AP Business Writer

fox Corp.’s $787.5

On Tuesday, Fox settled with Dominion over charges that Fox News baselessly accused the company of rigging its voting machines against former President Donald Trump in 2020. It was the most-watched media libel case in decades.

Fox had about $4 billion of cash on hand as of December 2022, and MoffettNathanson analyst Robert Fishman expects the company to pay the settlement during the current quarter. ho w much the lawsuit will actually end up costing Fox is unclear because there are ways it can defray some of the expense, primarily through insurance and the use of tax deductions.

Fox can deduct the Dominion settlement from its income taxes as an expense necessary for the cost of doing business. Fox Chief Communications Officer Brian Nick has confirmed the deductibility of the settlement.

Big companies often deduct large settlements to help offset some of the cost, but since settlement amounts are usually confidential, it’s difficult to pin down

exactly how much they benefit. Payments that are seen as restitution or compensation can be deducted, while payments made to the government or at the direction of a government are usually not deductible.

Robert Willens, a tax professor at the Columbia University School of Business, estimates that after the tax write-off, Fox will incur about three-fourths of the settlement amount, about $590 million.

“The key is that if the payments are being made to private parties and not at the behest of the government then you can pretty much conclude without any fear of contradiction that the payment will be deductible,” he said.

A study by the Government Accountability Office in 2005 found that of 34 settlements totaling over $1 billion, 20 companies reported deducting some portion or all of their settlement payments. Big banks such as Bank of America and JPMorgan Chase reportedly also deducted portions of their settlements of charges tied the financial crisis of 2008.

purchases of goods, properties and services that will be used for the development, construction and installation of their power plant facilities.

This includes the whole process of exploring and developing renewable energy sources up to its conversion into power, including but not limited to the services performed by subcontractors and/or contractors. The said RR only mandates that local suppliers of goods, properties, and services require from the RE developer only a copy of the latter’s BOI Registration and DOE Registration for purposes of availing the 0 percent VAT incentive. The REMB certification is not a requirement anymore to be qualified for 0 percent VAT.

It is important to emphasize that RE developers are not covered by the “direct” and “exclusive” use for zerorated activities limitation clause, by the CREATE Law. The RE Law stands on its own, including all the incentives that it promises.

This SC decision puts to rest all doubts as regards the incentives given to Renewable Energy Developers. It is a big step in our country’s quest to be carbon neutral as soon as possible.

The author is a senior partner of Du-Baladad and Associates Law Offices, a member-firm of WTS Global.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.

Also, if Fox is insured, insurance is likely to cover some of the settlement. Chad Milton, a partner at Media Risk Consultants, said a large media company such as Fox could have anywhere between $100 million to $500 million in coverage, including media liability insurance and other types of insurance.

“It’s not hard to stack up $100 million but as you go higher than that, it gets harder and harder,” Milton said.

Usually, there’s a certain amount a media company has to pay, which could be in the millions, before insurance kicks in. h o wever, the deductible includes attorney fees, which in a high-profile case like Fox-Dominion could be tens of millions of dollars or higher, so the deductible could be swallowed up just by attorney fees.

One wrinkle: even if an insurance company pays a substantial part of the settlement, there could be an annual aggregate limit of liability, which could mean that insurers wouldn’t cover another big-money settlement.

And media companies and insurers don’t always agree on who should cover what, since there are caveats written into contracts that allow insurers to avoid paying under certain circumstances.

In 2017, Disney settled a defama-

Dubai plot of sand sells for $34 million in luxury island record

By Lisa Fleisher  Bloomberg Opinion

ThIS isn’t a spectacular mansion. It’s not a luxury penthouse or a designer apartment.

It’s a bunch of sand on an artificial island in Dubai, and it just sold on April 19 for 125 million dirhams ($34 million), setting a record in a market that continues to benefit from an influx of foreign wealth.

The 24,500-square-foot empty parcel is on the sought-after Jumeirah Bay Island, a seahorse-shaped piece of land accessible by bridge from

the Dubai mainland. That works out to more than 5,000 dirhams per square foot, which the brokerage on the deal, Knight Frank, identified as a new high. The buyer, who doesn’t live in the United Arab Emirates, is planning to build a family vacation home on the property. his identity wasn’t disclosed. “It’s 125 million for sand,” says Andrew Cummings, head of prime residential at Knight Frank in Dubai. “Everything that’s been making the press has predominantly been spectacular villas, it’s been incredible penthouses and all this stuff. But this is just a massive record breaker

for a land plot.”

The property was purchased two years ago for 36.5 million dirhams, according to the Dubai Land Department, netting the seller a tidy 88.5 million-dirham profit.

The runup to the city becoming such a heady real estate market has been fueled by high oil prices, a desire by the world’s rich to park wealth in property and a sense that low-tax, low-crime Dubai is a haven in times of pandemic and war.

Russian citizens have been snapping up properties in a city that’s still welcoming them with open arms, while new, long-term resident “gold-

en” visas are attracting others with wealth to invest in Dubai real estate as well. Once hampered by overbuilding, the city now has what some brokers say is an undersupply of properties— especially on the high end.

“Sellers are in quite a strong position at the moment to dictate where the prices are, because there are such limited options available for people to choose from, especially beachfront,” says Knight Frank’s Lyndsey Redstone, one of the brokers on the deal.

The parcel that sold last week is one of only 128 originally offered on Jumeirah Bay Island by gov-

ernment-backed developer Meraas holding, making it quite exclusive compared with, for example, the thousands of homes on the iconic Palm Jumeirah development. All of the parcels were initially sold off years ago, and some have since been flipped at a handsome profit. The master development rules prevent the land from being subdivided, but some buyers have combined plots to create space for megamansions, Cummings says.

Only a handful of homes on the island have been completed. Some are under construction, and ground has yet to be broken on many others.

tion suit that was filed in 2012 after ABC aired a segment that questioned the safety of a meat producer’s products that critics dubbed “pink slime.” But one of its insurers, AIG, ended up suing Disney so it wouldn’t have to pay part of the settlement, although AIG eventually lost.

Fox has also said it doesn’t expect the settlement to affect its operations.

“We don’t expect significant operational effects or changes to our business given our cash flow, strong balance sheet and the health of our business,” the company said in a statement after the settlement was announced.

MoffettNathanson’s Fishman said everything indicates the company will be able to run its business as usual.

“It isn’t clear there has been much, if any, impact of these lawsuits on Fox News’ viewership and business,” he said.

Fishman said he doesn’t expect the settlement to hamper Fox’s ability to return money to shareholders, including a $1 billion accelerated share repurchase program announced in February.

Fox has a similar lawsuit looming with another voting machine company, Smartmatic, but no date has been set and the case might not go to court for a couple of years.

The island is also home to the Bulgari Resort, one of the most expensive hotels in the city, as well as the future Bulgari Lighthouse tower, where apartment sale prices have been reaching highs before it’s even built. The top penthouse—a nine-bedroom apartment with five parking spaces—sold for 410 million dirhams in February.

Real estate brokers predict records will continue to be broken. The seller in the Jumeirah Bay Island transaction, for example, also owns an identical plot next to the first. he plans to offer it for 135 million dirhams.

million settlement with Dominion Voting systems over defamation charges is eye-popping, but the ultimate cost to the media company is likely to be much lower.

Fox’s

A14 Tuesday, April 25, 2023

‘Friendshoring’ anchors PHL bid to widen trade ties

TRADE Secretary Alfredo

E. Pascual has underscored the importance of “friendshoring” or maintaining allies with countries as the Philippines can benefit from this amid the ongoing geopolitical shifts.

T hat need, he explained in a televised interview on Monday, is among the key reasons the Philippine government “decided to join [Regional Comprehensive Economic Partnership]

RCEP given that there is a need to have a bloc of friends...friendly countries around us.” Pascual added that these countries are the ones that the Philippines can trade with at reduced tariffs as well as establish common set of rules with.

T he Trade chief also noted that the “geopolitical shifts” paved the way for “various alternatives”. In line with this, he said that issues such as stability, assurance and security have prompted countries in the global arena to explore how to “arrange or rearrange the global trade.”

For instance, Pascual said, “In the US, they are pursuing for example onshoring or nearshoring; they are bringing back semiconductor manufacturing operations and [research and development] R&D back to the mainland US.”

But at the same time, the Trade chief said, “friendshoring is an important move because we are friendly to certain countries and those countries which have investments in the region that they want to relocate to, we can catch some of those ships.”

Meanwhile, Pascual bared in the same interview that he is set to visit China by the early part of the third quarter of this year. He said he intends to “talk to companies that are diversifying their locations and we can catch some of them to locate in the Philippines.”

At a news forum last week, Board of Investments (BOI) Executive Director Evariste Cagatan disclosed that the BOI, the attached agency of the Department of Trade and Industry (DTI) which Pascual chairs, is pursuing investors, particularly those who are leaving China.

“Another sector that left China and which we are eyeing are the makers of electric vehicles and battery processors,” Cagatan said in a  recent forum, speaking partly in Filipino.

I n December, Pascual underscored the importance of diversifying supply, noting that it’s risky to just rely on a single source country especially with the recent “geopolitical developments.”

T he Trade chief also earlier said the Philippines is looking at capitalizing on investors with production operations in China to have alternative production operations in the Philippines.

Meanwhile, according to a Bloomberg report published on June 20, 2022 which cited a report by the European Union Chamber of Commerce in China, “Some 23 percent of the businesses that responded to the survey are thinking of moving their current or planned investments away from China.”

T he Bloomberg report noted that the survey showed that Association of Southeast Asian Nations (Asean) and Europe are “among most considered alternatives.” Andrea E. San Juan

Covid cases rise won’t hurt recovery–economic team

By Cai U. Ordinario @caiordinario

I n a briefing on Monday, Finance Secretary Benjamin E. Diokno told reporters that “there’s nothing to fear” despite the recent report of the Department of Health (DOH) that new cases increased by 20 percent.

Diokno stressed that with the availability of vaccines and the establishment of health protocols, economic recovery is expected to continue despite a higher number of cases.

I don’t think there will be another lockdown. They just issued the alert, plus the difference between the situation then and now is there are vaccines available and there’s a standard protocol for Covid cases,” Diokno said.

“ If you feel sick, you just go to the hospital or you just drink something, just rest. So I don’t think

that’s kind of scary. So I don’t even think why you’re wearing your mask here. So really, there’s nothing to be scared of,” he added.

T he DOH earlier maintained the Alert Level 2 status over 26 provinces. Reports had the DOH explaining that the Alert Level 2 status placed over the provinces have been in effect since June 2022, contrary to one newspaper report that interpreted it as a fresh escalation of alerts.

B etween April 10-16, the DOH reported there were 2,386 new Covid-19 cases and 20 deaths because of the virus.

Positivity rate

EARLIER , CNN Philippines reported that DOH officer-in-charge Maria Rosario Vergeire said the country’s positivity rate is rising. This is

the percentage of tested people with positive Covid-19 results.

S he said the positivity rate increased to 7.6 percent nationwide, representing 371 new infections daily. This is higher than the positivity rate of 6.9 percent or an average of 274 cases per day.

Meanwhile, the economic team also dispelled fears that an impending El Niño would lead to high inflation and disrupt the country’s economic recovery.

N ational Economic and Development Authority (Neda) Secretary Arsenio M. Balisacan said the government has been preparing its immediate plans to combat the ill effects of the dry spell.

Balisacan said these measures include standing ready to import stillto-be identified commodities should the country need additional supplies.

If we need to import more, then we would have to make that decision early on and not wait until the effects are felt by our population,” Balisacan said.

Wala pa naman (There are no commodities yet  that could be imported) because the effects of the El Niño are expected to be felt toward the latter part of the year and spill over to next year,” he added.

L ast week, President Ferdinand R. Marcos Jr. ordered the creation of a government team to focus on mitigating the impact of the looming El Niño phenomenon, which is expected to hit from July to September this year and to last until 2024.

T he President said he wanted a “whole-of-government approach” so the country would have “protocol-based and scientific” longterm processes. He also desires an awareness campaign to instill conservation of water in the public consciousness.

A ccording to the government’s weather-monitoring agency, there have been seven severe El Niño events since 1980, with the last one lasting from 2015 to 2016 and inflicting $327-million losses in agriculture alone.

I n the previous El Niño event that persisted from the last quarter of 2018 to the third quarter of 2019, up to 61 percent of the country endured a drought while the other 39 percent underwent a dry spell.

A drought means three consecutive months of greater than 60-percent reduction from average rainfall, or five consecutive months of 21-percent to 60-percent reduction from average rainfall.

Filinvest Grp expands hospitality footprint

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

CHROMA Hospitality Inc.,

a unit of the Gotianun-led Filinvest Hospitality Corp., is aggressively expanding its footprint in the Philippines, with more hotels opening beginning next year under its Grafik brand.

S peaking to the BusinessMirror on the sidelines of the recent MOPC Grand Tourism Awards, Chroma Hospitality country manager James Montenegro said, “We have a lot of expansions. We’re opening [Grafik] Baguio in 2024, so that’s almost a 300-room hotel. And then we have the (Quest

Plus) Clark expansion, which is going to break ground this year.

And then our Crimson [Resort and Spa] Mactan expansion, and then a second hotel in Mactan, which is called the Grafik Mactan, which all break ground this year.”

He describes Grafik Mactan “as art and experiential estate-driven. In Mactan, it will focus on the beach design, island hopping and all of that stuff. So our activities are geared towards that, while the one in Baguio will really be focused on health and wellness, and we have one that’s planned for Dumaguete and that’s for diving.”

G rafik Baguio is the second partnership with the Bases Conversion and Development (BCDA),

after the 306-Quest Plus at the Mimosa Leisure Estate in the Clark special economic zone, Pampanga. Despite tight conditions in Baguio with about 50 hospitality accommodation across 49 square kilometers in the city, there is still room for their property, according to Montenegro.

Why Baguio?

“I think number one, there hasn’t been a real good hotel in the last [few years]…. And Baguio is still close  to everybody’s heart for a short holiday break. It’s a nice place to go to, right? It’s got lovely culture, great food, great experience. And we have a beautiful property there overlooking the golf course

and on top of a hill, with a beautiful 360-degree view of Camp John Hay,” he explained.

T he lease contract for the Baguio property, he said, was “signed, designed, and started construction in the pandemic.”

Despite the Covid uncertainty, Montenegro said, “I think at that time, Mrs. [Josephine Gotianun] Yap was very positive about the tourism business. And we signed it with [then BCDA chair] Vince Dizon. And I think there was a lot of trust in there, right? Because of the pandemic, drives to destinations are more popular now. It’s a shorter trip and people are willing to pay more because it’s a shorter trip.”

See “Filinvest,” A2

Poe seeks ‘final push,’ peers

shun

SIM reprieve

SEN. Grace Poe pressed the public “to give the SIM Registration one final push as the deadline to register approaches,” even as two of her colleagues rejected calls to extend the deadline, saying it was never expected that a 100-percent SIM registration would be achieved anyway.

Let us spread the word that all must enlist their SIM for their protection and peace of mind,” Poe said.

T he senator suggested that the Marcos government and telcos “go all out to encourage our countrymen to register.”

T his, she stressed, “should be matched with a fortified infrastructure to handle the gush of transactions from those who will sign up their SIM.”

S en. Poe added: “We reiterate that systems are in place to secure our information and protect our data.  Sa ating SIM number wala dapat good bye, meron lang forever.”

I n spearheading moves to enact the SIM registration law, she recalled lawmakers acknowledged its need, in a frantic bid to stem the surge of cyber crimes and fraud, mostly perpetrated through cellular phones.

T he Department of Information and Communications Technology (DICT) last week shot down calls to extend the deadline—appeals that arose from reports that less than half of the known number of subscribers have registered their SIMs or face deactivation.

I n contrast to the DICT stance, the Department of Trade and Industry (DTI), however, appealed for an extension, saying most of those who might be disenfranchised by the deactivation are MSMEs who are only now starting to rely on mobile phones to do business, referring to micro, small and mdedium enterprises. S ecretary Alfredo Pascual said deactivation would seriously disrupt small business, preventing them from doing online transactions, at a time when the government itself has been encouraging digitalization across all sectors.

Two senators—Minority Leader Koko Pimentel and Sen. Sherwin Gatchalian—are, however, not in favor of extending beyond April 26.

A ccording to Pimentel, the goal of mandatory registration is to determine how many of the SIMs are not being used seriously and regularly, and for illegal purposes.

If only 44 percent of the subscribers felt the urgent need to register their SIM cards, then, he said, authorities should just accept this.

Even Gatchalian, one of those who supported Poe in advocating the mandatory SIM registration law, sees no need to extend the deadline.

A 100-percent SIM registration is not realistically attainable anyway, he said.

There are 110 million prepaid SIMs in use, but Gatchalian noted that the national population is 109 million, which includes infants and children.

T his means, he said, that there are people who use more than one SIM.

It is also but natural that the final number of users registering their SIMs would be lower than 110 million because many people have stopped using multiple prepaid SIM cards, he added.

THE President’s economic team does not consider the rise in Covid-19 cases a threat to the country’s recovery and believes that a lockdown is not imminent.

STEPPING UP At NAIA Terminal 3, a Cebu Pacific staff member aids patrons in checking-in through the kiosks stationed in between Aisles D and E. Additionally, passengers can utilize CEB's self-bag tag kiosks situated in Aisle E by scanning their boarding passes at the machine, printing the tags, and affixing them to their luggage. These kiosks serve as a means to enhance the travel experience for Cebu Pacific's passengers. Story in Companies, B1 NONIE REYES

Companies

Editor: Jennifer A. Ng

Tuesday, April 25, 2023

Meralco net income soars as revenues surge in Q1

By Lenie Lectura @llectura

Meralco Chairman Manuel V. Pangilinan said the utility firm’s operational and financial performance in the first three months of the year indicate that the utility firm is “off to a good start.”

“2023 is looking quite good so we should be able to report doubledigit growth for profitability,” said Pangilinan during a press briefing

on Monday. Meralco’s consolidated core net income (CCNI) rose by 40 percent to P9 billion in January to March from P6.4 billion in the same quarter in 2022, on the back of the significant increase in the CCNI contribution of power generation, which grew three times versus the same period last year.

Consolidated revenues increased

by 23 percent mainly due to higher pass-through charges.

Meralco said it spent P5.1 billion for capital expenditures, of which P4.5 billion went to networks projects consisting of new connections, asset renewals, and load growth projects, among others.

o perating expenses increased to P9.5 billion driven by higher bills, management-related expenses, information technology licenses and maintenance, and higher manpower and cybersecurity costs of subsidiaries with increasing digitalization and work accomplishments for the construction unit.

As demand for power picks up, the utility firm’s energy sales volumes in the first quarter rose to 11,287 gigawatt hours (GW) from 11,069 GWh, as volumes of Meralco and Clark electric Distribution Corp. (Clark electric) went up by 2 percent and 9

percent, respectively.

Meralco’s sales mix continues to shift towards pre-pandemic levels with the continued recovery of business operations and resumption of social activities. The share of the commercial segment expanded to 37 percent while residential was down to 33 percent. Industrial segment’s share also fell to 30 percent.

“The growth in our energy sales volume, particularly the strong performance of the commercial segment, signifies that public confidence has returned and demand for power will certainly continue to increase. With this, we will pursue strategic energy sourcing activities for our medium- and long-term requirements,” Meralco President and Ceo Ray C. espinosa said.

Meralco ended the first quarter with a consolidated customer count of 7.7 million.

Globe unveils Gogoro scooters

By Lorenz S. Marasigan @lorenzmarasigan

Globe Telecom Inc. said on Monday its venture builder unit 917Ventures and its partners Ayala Corp. and Gogoro Inc. have launched smart scooters and battery-swapping services in the country.

or iginally set for pilot in Metro Manila last quarter, the Gogoro Smartscooters and battery-swapping stations are set to be commercially available in the fourth quarter of 2023. A pilot run involving 70 Globe employees will be conducted for two months starting May.

“We in the Globe Group are very proud to bring Gogoro Smartscooters and battery-swapping to the Philippines, a transport ecosystem that

marries mobility innovation and sustainability. This year, Filipinos will have access to these electric two wheelers and Gogoro’s convenient and cost-efficient battery-swapping technology, another first in the Philippines,” said Globe President and Ceo er nest Cu.

He noted that this is Globe’s debut in the climate tech space, as smart scooters are said to be more environmentally friendly than their combustion counterparts.

Gogoro was said to have transformed the two-wheel mobility space in Taiwan. It is also operating in China, India, Japan, Indonesia, Korea and Israel.

Horace lu ke, Founder and Ceo of Gogoro, said the company is excited to bring the Gogoro ecosystem to the Philippines and is committed

to replicating its success in Taiwan, where Gogoro has 540,000 riders and has deployed more than one million smart batteries at 12,000 batteryswapping stations.

our partnership with the Globe Group and Ayala Corporation in the Philippines is a major milestone in our mission to transform urban transportation and provide an accessible path for riders to adopt sustainable urban mobility and play a key role in battling climate change and making the world better for all.

We look forward to working together to deliver a sustainable transport system that will improve air quality, reduce carbon emissions, and provide a superior riding experience for consumers in the Philippines,” lu ke said.

The partners also unveiled the

first Gogoro battery-swapping station at The Globe Tower.

917Ventures Managing Director Vince Yamat, meanwhile, thanked the government’s support for the shift to e Vs as he cited the importance of enabling policy for electric vehicles to succeed in the country.

“The shift to e Vs, particularly deploying Gogoro’s battery-swapping system, will go a long way with sustained government support that will allow private sector initiatives to prosper. Sustainable transportation projects are, after all, aligned with the government’s long-term agenda to promote environmentfriendly transport options and foster digitalization as mobility needs of Filipino individuals and businesses rise,” Yamat said.

Cebu Pacific elevates passenger experience at NAIA T3

Cebu Pacific said it has enhanced customer service at the Ninoy Aquino International Airport Terminal 3 (NAIA T3) by allowing passengers who accomplished online check-in to enter through a dedicated gate, among other features that will ease travel experience.

From the first entrance at the NAIA T3 Departures ( o n line Check-In entrance), customers who checked-in online can go straight to the boarding gates if they don’t need

to check in their bags.

Passengers who need to check in their bags may proceed to Ceb s selfbag tag kiosks at Isle e , scan their boarding passes at a machine, print and attach the tags on their bags.

Thereafter, domestic passengers may proceed to the online check-in bag drop counters at e16-e29, while international passengers may check the counters assigned to them on the flight information monitors near Isles D and e M eanwhile, passengers who

did not check in online may enter through Gates 1 and 2 and use any of the check-in kiosks located in between Isle D and e They may also print their bag tags and use the bag drop counters located between D16D29 and e1-e15.

Ceb will offer a repack area where all passengers can check if they are within their baggage allowance or not. It also allows passengers to conveniently repack or arrange their bags if necessary.

The airline is also ready to ad-

dress the concerns of passengers with same-day flights by operating a 24/7 help desk at its ticket office near NAIA T3 Arrival Gate 6.

“o u r top priority at Cebu Pacific is to ensure the safety and comfort of our passengers. As demand for air travel picks up, we hope that these solutions will allow our customers to travel more conveniently and reach their destinations with ease,” said l e i Apostol, Cebu Pacific Vice President for Customer Service o p erations.

B1

ACEN to tap loans for capex this year

AC eN Corp. is planning to borrow up to P30 billion to partly fund its capital expenditure (capex) this year.

“In terms of new debts, we are projecting to borrow an additional of P30 billion. We’re also looking at equity offering by way of the preferred shares. This is not part of the P30 billion,” said ACeN Chief Financial of ficer Cora Dizon after the company’s annual stockholders’ meeting held Monday afternoon.

ACeN is allocating as much as P70 billion in capex this year to mainly fund its renewable energy (R e) projects as part of its goal of hitting 20,000 megawatts (MW), or 20 gigawatts (GW), of renewables over the next 7 years.

“To get to 20GW, we would look at our financing sources as well and that includes some forms of equity. That’s why this morning, the stockholders also approved the conversion of some of our common shares to preferred shares and the potential issuances of these newly preferred

shares. So, it’s going to be both debt and equity,” ACeN President er ic Francia said during a press briefing. ACeN currently has about 4,000 MW of attributable renewables capacity in operation and under construction across the Philippines and the region.

The company accelerated its renewables expansion throughout last year, spending P50.6 billion in capex as it started construction of over 1,300 MW of new solar and wind farms in the Philippines, Australia, and India during the year.

During the meeting, Francia said the company continues to execute its renewables expansion across key markets in the Philippines, Australia, Vietnam, India, and Indonesia.

“The Philippines continues to be our core market, accounting for 40 percent of our generation portfolio. We promptly responded to invest in new capacity amidst the tightening power supply situation brought about by resurgent electricity demand,” he said. Lenie Lectura

TANGLAW NG BAYAN AWARD

Budget Secretary Amenah Pangandaman (5th from left) was bestowed the Polytechnic University of the Philippines (PUP) Tanglaw ng Bayan Award, the highest recognition that the university gives to government officials during the PUP’s Commencement Exercises for graduate students held on Friday (April 21, 2023). Officials from PUP and the Employers Confederation of the Philippines (ECOP), the school’s job creation partner, recently paid a courtesy call on Pangandaman at the Department of Budget and Management office in San Miguel, Manila. Photos shows Pangandaman with ECOP president Sergio Ortiz Luis Jr. (4th from left), PUP president Manuel M. Muhi (3rd from right), and (from left) Dean Cindy Fetalvero Soliman, Director Ruby Muro of DBM, Prof. Pascualito Gatan, VP Emanuel de Guzman, and Head EA Anne Clarisse De Leon. The Budget Chief committed to ensure a sufficient budget for accessible and quality tertiary education through funding for the construction of buildings and laboratories, and provision of equipment, among others.

The Manila electric Co. (Meralco) reported that its net income in the first quarter went up by 40 percent to P8.1 billion, from P6.4 billion in the same period a year ago, as revenues surged to P105.6 billion.

From creative expression �lows environmental awareness in ‘Agos’ exhibit

AMONG the featured artists in the upcoming three-day Agos exhibition is Sean Go. “We’re thrilled to show what we’ve been working on finally,” the FilAm pop art artist said. Agos opens on Sunday, April 30, at the Art House in Power Plant Mall, Makati City.

AS the outdoor temperature continues to heat up along with talks about climate change, 19 visual artists converge for an upcoming showcase with the mission to raise awareness and impact change on the environment.

The exhibition, titled Agos, symbolizes the interrelation of all living things, bringing into focus the importance of preserving our natural resources. The show will be on display for three days from April 27 to 30 at Art House in Power Plant Mall, Rockwell Drive, Makati City.

“We’re thrilled to show what we’ve been working on,” visual artist Sean Go said in a statement. “Agos is giving us Filipino artists a platform to talk about environmental conservation through our creative expression. It’s a cause we all believe in, and it needs to be further discussed in whatever form.”

Go will be joined in the exhibit by Aaron Mempin, Alger Guevarra, Anita del Rosario, Bianca Natola, Dennis Morante, Emman Acasio, JP Duray, Joemarie Sinclaire and Leeroy New. Part of the fold as well are Mario de Rivera, Martin Honasan, Niccolo Jose, Orley Ypon, Richard Buxani, Sam Penaso, Tammy de Roca, Tessa Mendoza, and ZAR. Go is a Filipino-American pop art artist who has exhibited in places like New York and Indonesia. In Agos, he will be presenting three artworks with prominent pop culture characters as subjects, infused with elements of Filipino culture.

The first piece, titled Surfing Squirtle, tells the story that inspired the exhibition. Go depicts the Pokémon Squirtle on a trip to La Uñion, drinking buko juice, and surfing with tsinelas. Meanwhile, The 3 Blind X-Mice serves as a commentary on the high cost of achieving our dreams. Lastly, Pinoy Mandalorian captures the pro-environment spirit of the show, wherein Mandalorian beskar steel is recycled and reforged for foundlings like Grogu.

MANOBO ARTIST HOLDS PUPPETRY WORKSHOPS, PERFORMANCES FOR WAR CHILDREN, YOUNG THESPIANS OF MARAWI

YOUNG actors and actresses from the different parts of Mindanao will gather to learn the revered tradition and rich heritage of masks and puppetry in the Philippines and beyond on May 1, 2023.

Titled Papet, Papet...Pang Bata’t Matanda?, the free lecture-workshop by award-winning Manobo artist Carlito Camahalan Amalla is organized by the Kamayoka Center through the Sining Kambayoka Ensemble (SKE). It is the official folk theater company of Mindanao State University in Marawi. The event is in celebration of the group’s golden anniversary in 2024. The talk is likewise in preparation for the youth’s performances under the Cultural Exchange Program of the Cultural Center of the Philippines (CCP).

Amalla, who currently teaches under the Design Foundation of the School of Arts, Culture and Performance (SACP) of the De La Salle-College of Saint Benilde, will walk the participants into the vibrant history and culture of masks and puppetry across the world.

He will provide an overview of its unique characteristics that makes it distinct from popular counterparts, such as Wayang Golek, a Sundanese puppet art from West Java, Indonesia. Amalla will likewise champion its significant role

in storytelling and conveying messages and the relevance of the art in modern society regardless of the age and gender of the audience. He will guide the young artists on how to create their own puppets to enhance the aesthetic presentation of their stage productions.

The lecture-workshop will conclude with a recital featuring the finished outputs of the participants.

An important component during his stay in Marawi, Amalla will conduct a workshop and perform for the children who survived the 2017 siege. The event, motivated by his advocacy to empower the youth to express themselves better through puppetry, will be held in an undisclosed venue.

Amalla is a performer, dancer, chanter, musician, puppeteer, ceramist and researcher who has participated in exhibitions in Belgium, England, Wales and the US. He holds a bachelor in Fine Arts with major in sculpture and a master’s degree in Art History, both from the University of the Philippines. He is a recipient of the 2021 Asia Pacific Luminare Award and 2020 Outstanding Leadership in Culture and the Arts in New York City. Papet, Papet...Pang Bata’t Matanda? will be held at the Mindanao State University, Marawi City.

Agos is presented by Art House in partnership with Search Mindscape Foundation, a non-profit organization that paves the way for interaction, collaboration, and engagement in the Philippine art community. They are committed to building their platform to create opportunities for artists and investors to collaborate more closely, allowing Philippine culture to thrive in different communities around the globe. ■

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Jason Lee, 53; Renee Zellweger, 54; Hank Azaria, 59; Al Pacino, 83.

HAPPY BIRTHDAY: Share your thoughts, formulate your goals for the year and balance your life with a mixture of hard work, exercise, healthy living and love. Push forward with gratitude; what you attract will complement your dreams, hopes and wishes. Don’t let stubbornness stand in your way. Having flexibility and the willingness to work with others will be the keys to success. Your numbers are 6, 14, 21, 25, 33, 38, 40.

ARIES (March 21-April 19): Take a moment to examine your plans before you begin. A couple of tweaks will make the difference between OK and spectacular. Aim to open a window of opportunity that will allow you to show everyone what you have to offer. ★★

TAURUS (April 20-May 20): Do your part and everything else will fall into place. Make the time to visit someone who both grounds and inspires you, and you’ll devise a plan that stimulates your mind and excites your soul. Pamper yourself. ★★★★

GEMINI (May 21-June 20): Don’t settle or live in someone’s shadow. Consider what makes you happy, and strive to incorporate what you enjoy most into your everyday routine. It’s up to you to choose the path that excites the heart. ★★★

CANCER (June 21-July 22): Stop struggling and choose to proceed down the path of least resistance. Unleash your spirit and follow your dreams. Take a passionate approach to making a difference and participate in events that allow you to expand your interests and knowledge. ★★★

LEO (July 23-Aug. 22): You’ll face opposition if you try to do things your way. Rethink your strategy, and you’ll discover how to incorporate your ideas into what’s already in place without raising a red flag. It’s not what you do today— it’s how you do it.

★★★

VIRGO (Aug. 23-Sept. 22): Reach out and offer your skills, knowledge and ideas to an organization or someone in need of assistance, and you’ll make exciting connections that help you develop and market your attributes to suit your needs. Listen, share and adjust to what’s trending. ★★

LIBRA (Sept. 23-Oct. 22): Slow down and take everything in before you decide what to do next. Reflect on the past and question the future. Rethink your work ethic and goals, and consider how to pivot in a direction that suits you emotionally, physically and financially. ★★

SCORPIO (Oct. 23-Nov. 21): You’ll have plenty of options, but before you make a decision, do your homework. Invest more time in learning and exploring the possibilities and what’s available. A partnership looks promising and can free up time to focus on what’s important to you.

SAGITTARIUS (Nov. 22-Dec. 21): Distance yourself from trouble or anyone pushing you in a direction you don’t want to go, and you’ll begin to see opportunities that have eluded you in the past. Concentrate on personal growth, physical wellbeing and happiness. Peace of mind will prevail. ★★★

CAPRICORN (Dec. 22-Jan. 19): Don’t hesitate when an opportunity presents itself. Changes to your living arrangements or space will positively impact your state of mind and relationships with those close to you. Share your thoughts, and the input you receive will enrich your plans. ★★★

AQUARIUS (Jan. 20-Feb. 18): Stick close to home; if you venture out, you’ll face resistance from someone who doesn’t share your views. Self-improvement projects will bring the most satisfaction and the least amount of controversy. ★★★

PISCES (Feb. 19-March 20): You’ve got the stamina to do something spectacular. Attend meetings, upgrade your resume or enhance your skills to help you head in a direction that inspires you to be great. Participate in events that encourage networking.

BIRTHDAY BABY:

You are enthusiastic, impulsive and engaging. You are determined and loving.

Bill tackles LGU income-classification issue

By Butch Fernandez @butchfBM

This is one of the purposes of Senate Bill (SB) 2067, or the proposed “Automatic Income Classification Act for LGUs.” Senator Sherwin T. Gatchalian

is prodding Congress to frontload the passage of this remedial legislation that, he added, is awaited by local government units (LGUs).

Among its other intents, the bill seeks to resolve a thorn on the side of the income classification of LGUs. The conundrum stemmed from Section 9 of Executive Order 249 (series of 1987) that granted the Secretary of Finance (SOF) the administrative authority to review and recommend the appropriate changes of income ranges of the income classifications of cities, provinces and municipalities at least once every four years.

Gatchalian recalled that the Department of Justice (DOJ), however, issued a legal opinion on LGU income that the SOF has the authority to reclassify every four years all provinces, cities—except for Manila and Quezon City—and municipali-

ties based on the schedule of their annual income during the last four consecutive calendar years.

Incongruent

ACCORDING to the Senator, the legal opinion emphasized that the Finance Secretary’s authority to revise or modify the schedule of income or “income ranges” is merely recommendatory to the proper authority, which is Congress.

This was reaffirmed in another DOJ opinion that a congressional amendment of EO 249 is needed for the establishment of income benchmarks.

The DOJ opinions resulted in the abeyance of the income reclassifica-

tions in 2012 and the succeeding cycles. The latest issuance on the reclassification was in 2008, when the Department of Finance was headed by Margarito B. Teves.

Since then, the unchanged income classifications have not been congruent with the prevailing economic conditions and actual financial standing of these LGUs, according to Gatchalian.

Gatchalian explained that the automatic income classification of LGUs was intended to serve, among other purposes, as the basis for the determination of administrative and financial aids to local governments, “as well as the determination of the financial capability of local govern-

ment units to undertake priority projects and for the implementation of salary laws and administrative issuances on allowances that local government officials and personnel may be entitled to.”

Moreover, the senator emphasized that the enabling legislation “will empower LGUs in terms of governance and improving their services for their constituents.”

“By instituting the measure, we are also paving the way for local government personnel to receive any increase in their pay which they deserve. This also paves the way for LGUs to hire additional personnel in boosting their services to their constituents,” Gatchalian added.

By VG Cabuag @villygc

EVERYONE would agree that investing is something that financially smart people do. However, not everyone who has the money does it. Why?

The most common reasons are usually: one, they don’t know how to start; or, two, they’re really afraid to lose money. If you’re this type of person, then here’s a simple investing guide for you.

Savings account

I’ V E always believed that a person will not be successful in investing if he does not know how to save money. Saving is a habit that all investors have. So before thinking of becoming an investor, first be a saver.

Having a savings account has three purposes: it builds your emergency fund; it teaches you how to control your spending; and, it helps you appreciate the value of frugality.

Time deposits and/or SDAs

T IME deposits and special deposit accounts (SDA) are your next investment considerations. In my opinion, once you have around 3-months’ worth of monthly expenses in your savings account, then it’s time to funnel the rest of your emergency fund to a TD or SDA.

How much should you put into these investments? I’d say another 3-months’ worth of your monthly expenses; but it can be more. I have 6-months’ worth of expenses on time deposits, which gives me a total of 9-months’ worth of emergency funds (that’s savings plus TDs).

Low-risk investments

SO far, you’ve covered your very immediate future. At best, no financial emergency will be bad enough to break you. And because of that, it’s now time for you to face a money saver’s greatest enemy: inflation.

Treasury bills, low-risk bonds and some mutual funds are just some of the things where you can invest in. These instruments will, more often than not, give you enough interest rates to at least keep up with inflation.

Medium-risk investments

LOW-R ISk investments are there to help you keep up with inflation but, if you want to beat it, then you have to take medium-risk investments. Balanced funds, selected stocks, some real estate investments and small-sized to medium-scale business ventures are examples of these.

Medium-risk investments typically earn money after at least two years or three years. So the amount of money you should invest here must be an amount that you’ll never need during that much period from the present time.

High-risk investments

MEDIUM-R ISk investments will beat inflation but will rarely make you rich. Big investment wealth can only come from high-risk investments such as large-scale business ventures, foreign exchange, real estate, stocks and aggressive funds.

These investments will typically need at least five years before you can realize a profit; some even longer. I know it can be a long time but I will tell you now: it’s worth the wait. Just think of it as a “marshmallow test.”

The latter is credited to Vienna, Austria, born American psychologist Walter Mischel who is best known for his study on delayed gratification—“the ability to abstain from instant but lessdesirable outcomes in favour of deferred but more-desirable outcomes.” (https://www.britannica. com/topic/Columbia-University)

That focus of Mischel’s study is known as “the marshmallow test.”

His study involved children who had to decide if they wanted a marshmallow now or later. Mischel concluded that willpower can be learned and also served as “a protective buffer against the development of all kinds of vulnerabilities later in life.”

In summary:

1. Save money first: track expenses; pay yourself first; and, make saving automatic.

2. Build an emergency fund and put it on zero-risk investments (TDs, etc).

3. k e ep up with inflation through low-risk investments.

4. Beat inflation with mediumrisk investments.

5. Accumulate big wealth by choosing high-risk investments.

Do not be afraid to invest. If you’re afraid to lose money, diversify your portfolio by investing in different types of instruments. Furthermore, invest with a longterm horizon. These two strategies can minimize, if not eliminate, investment losses.

However, these investing tips are just a simplified guide and may not be the best option for you. Let a financial planner give you additional advice before you decide to invest in anything.

Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 101st RFP program this May 2023. To inquire, e-mail info@rfp.ph or text at 0917-6248110. The views of Mr. Villafuerte do not necessarily reflect

of the

LUCIO TAN controlled Philippine National Bank (PNB) has been hailed as the top local bank by the list of Forbes magazine’s survey on “World’s Best Banks” for 2023. PNB, which has about 8,500 employees, was followed by Ayala-led Bank of the Philippine Islands, which has more than 19,000 employees. Forbes’s “World’s Best Banks 2023” was compiled in partnership with market research firm Statista Inc.

The list is based on a worldwide survey of 48,000 banking customers in 32 countries.

“The 415 banks who earned a

spot on our ranking were evaluated in categories such as digital services, customer services, financial advice and, of course, trust,” said the magazine co-owned by Hong kong-based Integrated Whale Management Inc. and the Forbes family.

The Aboitiz-led Union Bank of the Philippines was third best in the Philippines, followed at fourth by BDO Unibank Inc., the country’s largest lender, which has about 95,000 employees. In fifth place is state-owned Land Bank of the Philippines followed by Philippine Savings Bank at sixth place. Rizal Commercial Banking Corp. of the Yuchengco group is at seventh, Maya Bank Inc. at eighth

GSIS to lend to members in Mindoro oil spill areas

STATE pension fund Government Service Insurance System (GSIS) announced through a statement it opened an emergency loan window for members in five areas in Oriental Mindoro affected by the oil spill.

GSIS President and General Manager Jose Arnulfo A. Veloso was quoted in a statement issued last Monday the state agency allocated P193.92 million in emergency loan. Veloso added the loanable amount could be tapped by 7,714 active members and old-age and disability pensioners in Calapan City as well as the municipalities of Baco, San Teodoro, Soccoro and Victoria.

He added the GSIS would accept loan applications until May 17, 2023.

Veloso said that qualified to apply are the following members: in active service and not on leave of absence without pay; those who have at least three months of paid premiums within the last six months prior to application; those have no pending administrative or criminal case; those that have

no due and demandable loan; and, a member that has a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.

Veloso said that old-age and disability pensioners are also qualified to apply if their resulting net monthly take-home pension after loan availment is at least 25 percent of their basic monthly pension.

“Members with existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Meanwhile, pensioners and those without existing emergency loan may apply for a P20,000 loan,” he added.

The loan is payable in three years or 36 equal monthly installments at an interest rate of 6 percent per annum.

GSIS first offered the loan window to 5,170 members and pensioners in nine Oriental Mindoro areas with the application deadline until April 9.

Raadee S. Sausa

and Robinsons Bank, which is merging with BPI, at ninth place.

An investing guide for people who are afraid to invest PNB tops Forbes’s list of World’s Best Banks in PHL

“Online banks are at the top in many countries, reflecting the pandemic’s impact on customers’ digital comfort,” Forbes said adding that over the past two years, banks rapidly adopted new digital technology that made customers’ experiences more robust, swift and personal— all necessary to appeal to customers belonging to the Millennial and Gen Z population groups.

“After the pandemic, whipsawing interest rates and the failure of giants fixtures like Silicon Valley Bank, these institutions are discovering that trust is the most important

briefs

➜ paymongo, Unionbank ink deal

factor they can, well, bank on,” the magazine said.

Forbes said the banks were rated on general satisfaction, or 30 percent of the final score and whether they would recommend the bank (30 percent). The final 40 percent came from customer ratings in five key areas: trust; terms and conditions; digital services; customer service; and, financial advice.

Numbers of banks vary based on the size of the country, the survey audience, and how many banks they named. To make the list, a bank had to be rated by at least 250 customers, the magazine explained in its ranking.

Payment processing platform Paymongo Philippines Inc. announced last monday it has partnered with Union Bank of the Philippines to offer the latter’s online banking service as a payment method on its products. the firm said the partnership will allow Paymongo merchants to accept payments from Unionbank customers directly from their website or online store. Paymongo Head of Operations miel Pahati said the addition of UnionBank online banking payment method to Paymongo’s payment options “enhances the company’s mission to simplify payment processing for businesses of all sizes.” Lorenz S. Marasigan ➜ BpI launches remittance program

tHe Bank of the Philippine Islands (BPI) announced last monday it has partnered with VFS Service Philippines Private Inc. (dba VFS Global) in a remittance business targeting Filipino migrant workers. VFS Global is the world’s largest outsourcing and technology services specialist for governments and diplomatic missions catering to applications for visa, passport, and consular services for 67 governments, BPI said. Visa applicants may now submit applications to open BPI accounts that overseas Filipino remitters and their recipients can use for remittances and savings at the BPI booth located at VFS Global ecoplaza in makati City.

➜ G-Xchange launches ‘int’l buy load’

G-XCHanGe Inc. announced it tapped the services of Singaporean firm Fixed & mobile Pte Ltd to enable users of its GCash application to buy load from 21 countries. the firm’s statement issued last week read that the feature will be under beta mode for a limited time. the firm said the international load feature allows users to buy load for an international number. Users of the app can access 48 international telecommunications providers and buy prepaid load for somebody else, the company said. G-XChange didn’t disclose how much was involved in its use of Fixed & mobile’s services.

EastWest Bank net income grew 42% to ₧4.6B in 2022

By Cai U. Ordinario @caiordinario

THE reopening of the economy allowed Gotianun-led EastWest Bank to bounce back to its pre-pandemic growth level in 2022.

The publicly-listed bank said its net income grew 42 percent to P4.6 billion in 2022. This was supported by a 7.7 percent growth on its return on equity and four percent growth of its total assets.

The bank’s total assets reached P421.4 billion in 2022 on the back of the reopening of the economy and pent up demand that saw a 24 percent increase in its cards receivables and 96 percent growth of its salary loans.

“The full year impact of our 2022 asset buildup will be felt this year on our core income performance. The growth momentum should improve this further as we exceed pre-pandemic asset levels. We believe that EastWest is at the right place and at the right time, as we partner with our customers to rebuild and grow

together,” newly-appointed EastWest Bank CEO Jerry G. Ngo said. EastWest Bank said excess liquidity was channeled toward higher yielding consumer loans and investment assets. The loans portfolio grew by 21 percent while investment assets by 24 percent. EW made progress in improving its funding base as CASA grew by 6.5 percent. Total deposits were steady at P329.2 billion with CASA ratio improving to 79 percent, up from the previous year’s 75 percent.

This strong performance allowed the bank to declare cash dividends of P925 million, with a dividend payout ratio of 20 percent equivalent to P0.41 per share, to be paid out to stockholders on May 31, 2023.

In light of the direction it set for its growth this year, the bank also invested heavily on IT systems to help improve its digital services, prime it for faster digital innovations, and improve its operating costs through automation. It also announced changes in its senior management. The bank opened 2023 with the appointment of

Ngo and new President Jacqueline S. Fernandez. The appointments of Ngo and Fernandez followed the retirement of former CEO, President, and Vice Chairman Antonio C. Moncupa at the end of 2022.

“We feel most assured that the new leadership choices we have made will bring EastWest Bank forward to the next level,” said EW chairman Jonathan T. Gotianun. “We have the utmost faith in Mr. Ngo and Ms. Fernandez in the Leadership Team, as well as Mr. Gotianun and Amb. Yap on the Board of Directors in taking up the bank’s cause.”

Fernandez, a banking veteran in the lending business and a key figure in steering EW to become a major force in consumer lending for the past 16 years, assumed her role as President in the second half of 2022 while Ngo assumed the CEO position in January 2023.

Ngo, a native of Cebu and a seasoned international banker, brings to EastWest 30 years of banking and finance experience. He served as the

Group Chief Finance Officer and Independent Board Director of Saratoga Investama Sedaya, one of Indonesia’s earliest and largest investment holding companies.

Along with the appointment of Ngo and Fernandez, EW also elected Francis Nathaniel C. Gotianun and Ambassador Joseph D. Yap to the Board of Directors at the EastWest Annual Stockholders’ Meeting on April 24. Moncupa has been with EW for over 16 years, serving as its leader and guiding it toward success as one of the Philippines’ most highly regarded consumer-centric banks.

However, Moncupa’s retirement from EW does not mean he will completely step away from his leadership role. He has been nominated to be an FDC director.

Under its new leadership, EW affirms its course of focusing on its consumer-centric thrust and services that the bank is already strong in, as well as the young Filipino population that makes up a huge and emerging part of its customer base.

AmeAsure has been filed in the senate to resolve a quandary relating to the income classification of local government units (LGus) and the power of the Finance secretary in this function.

fitz Gerard Villafuerte

seeking a rebound, cnn turns to charles Barkley, Gayle King

NEW YORK—TV personalities Gayle King and Charles Barkley will headline a new prime-time weekly CNN show, King Charles, debuting in the fall, the network announced Saturday as it tries to engineer a turnaround amid tumbling ratings.

CNN chairman and CEO Chris Licht said in a statement that the show “will be an exciting new way we are delivering culturally relevant programming and unique perspectives to our audience, from two incredibly dynamic personalities.”

Licht said King will continue to anchor CBS Mornings, and former NBA star Barkley will continue his current role at Warner Bros. Discovery Sports.

Appearing on TNT to discuss the new show, King said she hadn’t been looking for an additional job but relished the chance to work with Barkley.

“What I think is so great for the both of us is that it’s live TV,” she said. “To me, live TV is like working without a net. So whatever happens, happens. I like that.”

The duo said they’d talk about politics but that the show would not be political.

“We don’t want to say, ‘We’re a liberal, conservative, Republican, Democrat,’” Barkley said. “That’s one of the things that’s already ruined television in general.”

Cable news ratings are down across the board compared to 2022, when Russia’s invasion of Ukraine was fresh in the news. CNN’s dip has been most dramatic—61 percent in prime time in March.

CNN is a year into new corporate management with Warner Bros. Discovery, which hired ex-CBS producer Licht to run the network.

Licht’s revamp of CNN This Morning last fall was plagued with bad publicity in the wake of cohost Don Lemon’s ill-advised reference to a woman’s “prime” years, which offended many. AP

Surfing their way to summer happiness

eat, and all that stuff. It is liberating in a way and I get to grow alongside my kids and my family,” she shared. Eigenmann has also realized the importance of being healthy. “Being healthy is a decision. It is a lifestyle. One can work on being healthy anywhere. The islands are a wonderful place to be healthy. We have fresh seafood, we can have any kind of salads we want because the fresh greens are always within reach. We can choose to run and walk and swim and hike and surf.”

‘ThE VOicE GEnERATiOns’ FinAlly ARRiVEs in AsiA

THE world’s biggest and most iconic singing competition, ITV Studios’s The Voice is finally coming to Asia via its newest spinoff: The Voice Generations.

For the very first time, the all-time favorite singing competition The Voice Generations will get a Pinoy version as it makes its highly-awaited debut on GMA Network.

The program invites duos or groups of talented musicians from various generations to perform together in The Voice Arena. Whether they are family, colleagues, or friends, one thing is certain—each team has their own unique story and an emotional bond that will be featured onstage.

Adding excitement to the show is Dingdong Dantes, who has been tapped as the host of The Voice Generations.

Meanwhile, the search for the most competent and gifted singing groups is now ongoing. A group may have two or more members and must be seven years old and above from different generations. Also, the members must have an authentic relationship with each other.

Applicants must prepare two singing performance video clips and each video must not be more than 10MB. The audition videos must not exceed 1 minute and 30 seconds each.

Those who have what it takes can join and become part of the talent competition. Upload the application form and audition videos to bit. ly/40tPdAl.

Aspiring groups may also visit The Voice Generations booth at the Sparkle Caravan event where the show’s team can assist in the registration and uploading of videos on the program’s official web site. The caravan will be in Iloilo on May 13 and in Davao on May 20. An audition will also be held in GMA Network Center on May 12.

FOR many years now, Andi Eigenmann has found her true happiness in the island of Siargao.

Leaving the glitz and glitter of show business six years ago to choose an island lifestyle with her Siargao-based surfer husband Philmar Alipayo to raise their family and explore their business opportunities, Eigenmann has no regrets and is definitely on Cloud 9.

“ I am certainly at my happy place. It may not be a bed of roses every day but the sense of freedom, calm, joy and peace that I experience in my day-to-day life is priceless. I get to love my children and my husband in the most organic way I know possible, and I get to love myself, too, without so many people dictating what I have to do, where I have to go, what I have to wear and

She added, “And Siargao is a surfing paradise. I have started to enjoy surfing and I surf regularly for two hours. It has become part of my daily activities on the island. People from everywhere come to Siargao and many fall in love with the place instantly. Life suddenly becomes so uncomplicated and simple joys transform into priceless memories.”

Eigenmann and her husband has just put up the Happy Islanders Surf Club. “It is our simple way to promote surfing in the Philippines. We have a lot of undiscovered young surfers in the countryside where there are wonderful coasts, and we are happy to be part of their growth and journey in further developing their hobby, turn these into passion, and hopefully become amazing surfers in the future. We may have a few at the moment but we know these numbers will grow, and they will find their own surf happiness soon.”

K-pop star Moon Bin found dead at home

By Kim Tong-Hyung

The Associated Press

SEOUL, South Korea—Moon Bin, a singer from South Korean boyband Astro, was found dead at his home in Seoul, his management agency said Thursday. The 25-year-old was reportedly found by his manager who went to the singer’s home on Wednesday evening because he wasn’t responding to contacts. Police are investigating his death but have so far found no signs of foul play, according to South Korea’s Yonhap news agency. Officials at Seoul’s Gangnam district police station did not respond to calls for comment.

Moon Bin’s management agency, Fantagio, confirmed his death in a statement, saying that he “suddenly left us and became a star in the sky” and that fellow artists and company staff were mourning him with “very deep sadness and shock.”

Fantagio said Moon Bin’s funeral will be held “as quietly as possible,” with the attendance mostly limited to family, close friends and colleagues, based on the wishes of his relatives.

Moon Bin began his music career in 2016 as a member of the six-member boyband Astro, which debuted shortly after the singers appeared in a TV reality show. The group quickly found success in South Korea and Japan and was listed on Billboard’s top 10 list of new K-pop groups that year, with the magazine praising them for their “bright, synthpop sound that won over K-pop lovers from around the world.”

According to Billboard, Astro had seven albums on the magazine’s World Albums Chart with Moon Bin as a member, peaking at No. 5 in 2017 with Dream Part.02.

Fans flooded Moon Bin’s social media accounts with comments expressing grief and shock over his death, which came months after he renewed his contract with Fantagio along with four other Astro members.

“It’s hard to believe,” radio host Jang Seong-kyu

wrote on Instagram.

“We only met several times over broadcasts, but whenever we met, Moon Bin was always bright and expressed immense love for his family. I can’t imagine the pain he was going through.” Moon Bin had also performed as a member of the duo Moonbin & Sanha with Astro bandmate Yoon San-ha. Indonesian event promoter Lumina Entertainment on Wednesday announced the cancellation of the duo’s performance in Jakarta due to “unforeseen circumstances beyond our control.”

Helix Publicity, a US-based public relations agency that has represented Moonbin & Sanha, issued a statement on Twitter that it was “absolutely heartbroken.”

“Sending our thoughts, prayers, and deepest condolences to Moon Bin’s family, friends, loved

ALSO ROCKING AS A SURFER

ANOTHER celebrity who has fallen in love with surfing is Joshua Bulot, the frontman for the rock vocal group Lily.

If the band has consecutive free days, Bulot would quietly drive to beaches that have waves that are perfect for surfing. “I love the sea and the beaches, and our country definitely has lots of them, even some of the world’s best. I learned how to surf not very long ago, and it was something that I’ve always wanted to try. The kind high I get when surfing is hard to describe—it’s a mix of wonderful emotions plus the adrenaline rush that I get is just amazing.”

Bulot, who has made a name for himself in his many previous performances as a singer and a stage actor, might be relatively new with Lily, but his luminous presence has certainly added much sparkle to the group. “I am just thankful that I get to do what I love to do—and that is making the most of whatever God-given creative gifts I was so richly blessed with,” he said.

And the perks of being in a band, especially when tours are aplenty, include being in places where he has never been before. It’s the peak of summer and rock bands like Lily are surely to grace many out-oftown events where the sea and the waves are always calling. And rockstar Joshua Bulot certainly will heed the call. n

ones, and to AROHA who always cheered for him and supported him,” it said, referring to the name that Astro’s fans call themselves.

Moon Bin entered the entertainment industry as a child actor and landed a role in the 2009 TV series Boys Over Flowers, which was hugely popular in Asia. His sister, Moon Sua, is also a K-pop artist, a member of the girl band Billlie.

Several South Korean singers and actors have died by suicide in recent years, which has touched off soul-searching about harsh competition in the fastgrowing entertainment industry, an abusive online culture and failure by management to address the mental health problems of their stars.

Last week, 26-year-old actress Jung Chae-yull was found dead at her home. Her agency did not say what caused her sudden death.

left: Joshua Bulot and Andi Eigenmann

DLSU bags Outstanding Delegation Award in National Model UN Conference

STUDENTS from De La Salle University recently garnered the Outstanding Delegation award in the prestigious National Model United Nations (NMUN) Conference New York, where they represented New Zealand. It was a back-to-back achievement after the University clinched the same top spot in NMUN Japan in November last year. The conference was held at the New York Hilton Midtown in New York City last April 10 to 14, and the awarding ceremony was held on the final day at the General Assembly (GA) Hall of the United Nations Headquarters in New York.

NMUN NY 2023 was participated by 3,900 delegates and faculty from 225 universities and colleges from 37 different countries and was conducted in two separate conferences this month.

Team DLSU was composed of 14 delegates with Josue Marie Venida and Ana Maria Isabel Lirios as head delegates. Other members of the team were: Alvin Christian Ang, Ishan Chugani, Althea dela Cruz, Hyacinth Flores, Ysabel Garcia, Christella Audrey Garin, Michael Anthony Go, Mildred Beatrice Indab, Mary Magnifica Legaspi, Leumasaehr Morales, Antonio Miguel Pecate and Malaika Singh.

The training team back home included Gaye Justinia Delos Santos, Yedda Bueno, Arrabela Lumanglas, Julean Palpallatoc, and Xybastian Trinidad. Department of Political Science and Development Studies faculty member Allen Surla served as the team’s adviser.

The 14-member DLSU Team was divided into eight UN Committees that represented New Zealand in the United Nations. Michael Anthony Go was chosen Outstanding Delegate in the ECOSOC Committee; Ishan Chugani received an Outstanding Position Paper Award in the General Assembly Committee 2; Ana Maria Isabel Lirios received an Outstanding Position Paper Award in the General Assembly Committee 3; and Hyacinth Flores received an Outstanding Position Paper Award in the UNHCR Committee.

DLSU’s awards in NMUN since 2014 include five Outstanding Delegation Awards (Gold), three Distinguished Delegation Awards (Silver), and 6 Honorable Mention Awards (Bronze).

NMUN is the world’s largest simulation of Model United Nations. University students from all over the world step into the shoes of diplomats and work feverishly to propose resolutions addressing disarmament, regional

OPM Stars Shine for Children With Critical Illnesses

conflicts, peacekeeping, human rights, women and children, economic and social development, and the environment.

Awards are granted by the NMUN Secretariat in recognition of outstanding performance by delegations across all committees and their extensive preparation for the conference. Overall Delegation Awards (Outstanding, Distinguished and Honorable Mention) are based on work at NMUN. Outstanding Position Paper Awards are given to recognize pre-conference preparation of delegates who submit well-written policy papers that articulate the most effective solutions to pressing global issues, while Outstanding Delegates in Committee Awards are selected by vote of the delegates in each committee.

DLSU also participates in Model United Nations (MUN) simulations outside those hosted by the NMUN, the oldest US-based and UN-Accredited organization. To spread model UN consciousness in the Philippines and abroad, DLSU has hosted Model United Nations international conferences. For the ninth consecutive year, DLSU will be holding the De La Salle Model United Nations Conference on campus this coming June.

A Night to Remember: SkinStation Celebrates 100th Branch and Inaugural Luxe Clinic with a Glamorous Gala

SKINSTATION, a leading skin clinic in the Philippines, recently hosted a glamorous gala to celebrate its 100th branch and first-ever luxe clinic in High Street South BGC, the SkinStation Elite. This exclusive event marked the company’s milestone achievement, featuring esteemed guests, including business partners, loyal clients, and members of the media.

The gala also launched SkinStation Elite, an exclusive club offering members access to high-end treatments, state-ofthe-art technologies, and exceptional

customer service. Members enjoy innovative procedures like 4D Laser Hair Removal, Pico Laser, RF Fractional Laser microneedling, and Hip & Butt Lift with Rose Glam Filler and Tesslift.

Founder Fred Reyes discussed SkinStation’s growth, the vision for luxe clinics, and the benefits of the new SkinStation Elite club during the gala. He credited three growth strategies for their success: fairness in compensation, embracing innovations, and aiming to be number one at something. Fred also

acknowledged the role of faith in their success, as they often opened clinics on Marian Feast Days or Saturdays.

SkinStation’s success is a family affair, with Fred’s wife Carleen and their sons, Gerard Cedric, Francis Carl, and Joseph Pio, all actively contributing to the business. Their commitment to SkinStation’s growth is evident in their dedication.

The luxe SkinStation Elite branch is exclusive to Elite members, who can enjoy free use of a Skin Analyzer, assessing skin’s condition in minutes. Amenities include a lounge with a view, fully enclosed rooms, and an exquisite customer service experience through handpicked and specially trained top doctors and staff.

The gala night was a testament to SkinStation’s commitment to excellence and a celebration of its achievements. The event featured captivating performances, exquisite cuisine, and a sense of camaraderie among attendees united by their passion for skincare.

As SkinStation looks forward to the future, the company remains dedicated to providing exceptional skincare services to Filipinos. The opening of its 100th branch, first luxe clinic, and SkinStation Elite solidifies its position as a market leader, ensuring clients receive the best in skincare treatments and solutions. The Reyes family’s collective efforts serve as a strong foundation for the company’s continued success and growth.

WHEN a wish is granted, everything aligns to shine hope, strength, and joy. The Make-A-Wish Philippines Wish Ball, entitled “Where Stars Align,” is set to be an evening just as magical!

On April 29, 2023, Saturday, 6:00PM, at The Peninsula Manila Hotel, the Philippines’ brightest music stars Jamie Rivera, Basil Valdez and other surprise guests will come together to help raise funds to grant the wishes of children with critical illnesses.

Co-presented by Blogapalooza and Wish FM 107.5, this formal charity gala will be hosted by Teresa Herrera and Rovilson Fernandez. It will feature inspiring stories from wish kids, as well as performances from Auriz Llorens, Rox Puno, Justin Taller, and Danimei Everett with the Make-A-Wish PH Kids & Genies Choir. In addition, there will be a special Blue Carpet pre-show by hosts Chal

Maling and Ryan Tresplacios live on MakeA-Wish Philippines’ Facebook page. Guests will also enjoy a special four-course dinner prepared by The Peninsula Manila.

Every year on April 29, the Make-A-Wish community in over 50 countries celebrate World Wish Day to commemorate the anniversary of the first wish that inspired the creation of the organization more than 40 years ago in Arizona, USA. Make-AWish Philippines is celebrating it this year by holding its first ever Wish Ball in the country.

For more information, and to book your tickets, please visit www.wishes.ph, scan the QR codes, or contact 09159573020.

Those who are unable to attend the event may still extend their help by donating online at www.wishes.ph, or making a wishgranting pledge by emailing info@wishes.ph.

MOA-based Conrad Manila appoints new Commercial Director to spearhead hotel's commercial strategies

CONRAD Manila officially welcomes Joanne Golong-Gomez as its newly appointed Commercial Director, spearheading the commercial strategies of the luxurious 347-room hotel located within the bustling Mall of Asia complex.

“We are excited to officially welcome Joanna Gomez as Conrad Manila’s new Commercial Director. With her extensive background in sales and marketing, I am confident that Joanna will bring valuable insights and innovative strategies to the team. Her passion and dedication to the hospitality industry are truly commendable, and I am excited to see how her leadership will contribute to the hotel’s success in the coming years,” said Fabio Berto, General Manager of Conrad Manila.

A 20-year hospitality veteran, Joanne brings with her a breadth of impressive hospitality experience spotlighting leadership roles at an international hotel group as Director of Sales and Marketing from 2000 to 2005 and 2009 to 2015. In between those years, she was appointed as the Residence Manager and then served as the General Manager. Most recently, she served as the Commercial Director for Hilton Manila since 2017.

“I am more than thrilled to take on a new adventure and look forward to working with talented professionals who are committed to delivering exceptional guest experiences and driving the hotel's success in a highly competitive market. Through collaboration, innovation, and a relentless focus on

excellence, I am confident that we can achieve our goals and exceed the expectations of our guests and stakeholders,” shared Gomez.

Conrad Manila, the premier haven for smart luxury by Manila Bay, indulges guests with stunning interiors and décor, exceptional amenities, and panoramic views of the bay and its storied sunset. The hotel features three upscale dining outlets, an award-winning luxury spa, and an outdoor pool. It is also fitted with a pillar-less Grand Ballroom that can accommodate up to 1,000 guests, as well as five other multi-functional event spaces, all equipped with modern A/V technology, high-speed Internet access, and intelligent lighting.

For inquiries and reservations, please call +63 2 8833 9999, email conradmanila@conradhotels.com, or visit www.conradmanila.com

The Mu Sigma Phi celebrates Service Month 2023

with the College’s mission of serving the underserved.

Service is the war the Mu Sigma Phi fights and commits to. Our Pillar of Service aims to be responsive and appropriate for sustainable and transformative nation-building, cultivating its spirit of self-denying service. Each Brother and Sister of the Mu Sigma Phi seeks to provide assistance to those who need it, carrying on with hope amidst the challenges ahead, and anchoring all those in service to wield the power dedicated to the best interests of and justice towards humanity, from our fellow countrymen to the whole of mankind.

THE Mu Sigma Phi Fraternity and Sorority are the first and largest medical Fraternity and Sorority in the Philippines and in Asia.

Guided for 90 years by our longstanding legacy, and the Pillars of Brotherhood and Sisterhood, Leadership, Scholarship, and Service, the Mu Sigma Phi have relentlessly aligned their efforts

This Service Month, the Mu Sigma Phi once again imbues fervor into our Pillar of Service through various initiatives and efforts that tackle the myriad of health issues that the Philippines faces today. As such, we invite everyone to the activities for this Service month, which include: (April 11) 90th Service Month Launch; (April 15) QEFF + UPLOAD 2023 (April 22) Grand Medical Mission and Blood Drive; (April 29) Immunity Forum (April 30) Mu Expedition; (May 5) Lukso ng Dugo; (May 7) Medical Mission.

Beyond responding to the calls for help, the Mu Sigma Phi seeks to catalyze the empowerment of the community itself. Brothers and Sisters march forward with devotion, bearing arms in the service of the Filipino people.

Future of AI relies on a high school teacher’s free database

By Marissa Newman & Aggi Cantrill

That person is high school teacher Christoph Schuhmann, and LAION, short for “Large-scale AI Open Network,” is his passion project. When Schuhmann is not teaching physics and computer science to German teens, he works with a small team of volunteers building the world’s biggest free AI training data set, which has already been used in text-to-image generators such as Google’s Imagen and Stable Diffusion.

Databases like LAION are central to AI text-to-image generators, which rely on them for the enormous amounts of visual material used to deconstruct and create new images. The debut of these products late last year was a paradigm-shifting event: it sent the tech sector’s AI arms race into hyperdrive and raised a myriad of ethical and legal issues. Within a matter of months, lawsuits had been filed against generative AI companies Stability AI and Midjourney for copyright infringement, and critics were sounding the alarm about the violent, sexualized, and otherwise problematic images within their datasets, which have been accused of introducing biases that are nearly impossible to mitigate.

But these aren’t Schuhmann’s concerns. He just wants to set the data free.

Large language

THE 40-year-old teacher and trained actor helped found LAION two years ago after hanging out on a Discord server for AI enthusiasts. The first iteration of OpenAI’s DALL-E, a deep learning model that generates digital images from language prompts—say, creating an image of a pink chicken sitting on a sofa in response to such a request—

had just been released, and Schuhmann was both inspired and concerned that it would encourage big tech companies to make more data proprietary.

“I instantly understood that if this is centralized to one, two or three companies, it will have really bad effects for society,” Schuhmann said.

In response, he and other members on the server decided to create an open-source dataset to help train image-to-text diffusion models, a months-long process similar to teaching someone a foreign language with millions of flash cards. The group used raw HTML code collected by the California nonprofit Common Crawl to locate images around the web and associate them with descriptive text. It does not use any manual or human curation.

Within a few weeks, Schuhmann and his colleagues had 3 million image-text pairs. After three months, they released a dataset with 400 million pairs. That number is now over 5 billion, making LAION the largest free dataset of images and captions.

As LAION’s reputation grew, the team worked without pay, receiving a one-off donation in 2021 from the machine-learning company Hugging Face. Then one day, a former hedge fund manager entered the Discord chat.

Emad Mostaque offered to cover the costs of computing power, no strings attached. He wanted to launch his own open-source generative AI business and was keen to tap LAION to train his product. The team initially scoffed at the proposal, taking him for a kook.

“We were very skeptical in the beginning,” Schuhmann said, “But after four weeks or so we got access to GPUs in the cloud that would

normally have cost around $9,000 or $10,000.”

When Mostaque launched Stability AI in 2022, he used LAION’s dataset for Stable Diffusion, its flagship AI image generator, and hired two of the organization’s researchers. A year on, the company is currently seeking a $4 billion valuation, thanks largely to the data made available by LAION. For his part, Schuhmann hasn’t profited from LAION and says he isn’t interested in doing so. “I’m still a high school teacher. I have rejected job offers from all different kinds of companies because I wanted this to stay independent,” he said.

New oil?

MANY of the images and links in databases like LAION have been sitting in plain sight on the web, in some cases for decades. It took the AI boom to reveal its true value, as the bigger and more diverse a dataset is, and the higher quality the images in it, the clearer and more precise an AI-generated image will be.

That realization, in turn, has raised a number of legal and ethical questions about whether publiclyavailable materials can be used to feed databases—and if the answer is yes, if creators should be paid.

To build LAION, founders scraped visual data from companies such as Pinterest, Shopify and Amazon Web Services—which did not comment on whether LAION’s use of their content violates their terms of service—as well as YouTube thumbnails, images from portfolio platforms like DeviantArt and EyeEm, photos from government websites including the US Department of Defense, and content from news sites such as The Daily Mail and The Sun.

If you ask Schuhmann, he says that anything freely available online is fair game.

But there is currently no AI regulation in the European Union, and the forthcoming AI Act, whose language will be finalized early this summer, will not rule on whether copyrighted materials can be included in big data sets. Rather, lawmakers are discussing whether to include a provision requiring the companies behind AI generators to disclose what materials went into the data sets their products were trained on, thus giving the creators of those materials the option of taking action.

The basic idea behind the provision, European Parliament Member Dragos Tudorache told Bloomberg, is simple:  “As a developer of generative AI, you have an obligation to document and be transparent about the copyrighted material that you have used in the training of algorithms.”

Such regulation wouldn’t be an issue for Stability AI, but it could be a problem for other text-to-image generators—“no one knows what Open AI actually used to train DALL-E 2,” Schuhmann said, citing it as an example of how tech companies lock up public data. It would also upend what is now the status quo in data collection.

“It has become a tradition within the field to just assume you don’t need consent or you don’t need to inform people, or they don’t even have to be aware of it. There is a sense of entitlement that whatever is on the web, you can just crawl it and put it in a data set,” said Abeba Birhane, a Senior Fellow in Trustworthy AI at Mozilla Foundation who has studied LAION.

Although LAION has not been sued directly, it has been named in two lawsuits: one accusing Stability and Midjourney of using copyrighted images by artists to train their models, and another by Getty Images against Stability, which alleges that 12 million of its images were scraped by LAION and used

to train Stable Diffusion.

Because LAION is open-source, it’s impossible to know which or how many other companies have used the dataset. Google has acknowledged that it tapped LAION to help train its Imagen and Parti AI text-to-image models. Schuhmann believes that other large companies are quietly doing the same and simply not disclosing it.

Worst of the Web

SITTING in the living room as his son played Minecraft, Schuhmann likened LAION to a “small research boat” on top of “big information technology tsunami,” taking samples of what’s beneath to display to the world.

“This is a tiny amount of what’s available publicly on the Internet,” he said of LAION’s database. “It’s really easy to get because even we, with maybe a budget of $10,000 from donors, can do it.”

But what’s publicly available isn’t always what the public wants—or is legally allowed to see. In addition to SFW photos of cats and fire trucks, LAION’s dataset contains millions of images of pornography, violence, child nudity, racist memes, hate symbols, copyrighted art, and works scraped from private company websites. Schuhmann said he was unaware of any child nudity in LAION’s data set, though he acknowledged he did not review the data in great depth. If notified about such content, he said, he would remove links to it immediately.

Schuhman consulted lawyers and ran an automated tool to filter out illegal content before he began assembling the database, but he is less interested in sanitizing LAION’s holdings than in learning from them. “We could have filtered out violence from the data we released,” he said, “but we decided not to because it will speed up the development of violence detection software.” LAION does provide a takedown form to request the removal of photos, but the dataset has already been downloaded thousands of times.

Offensive content lifted from LAION appears to have been integrated into Stable Diffusion, where despite recently tightened filters, it’s easy to generate fake Islamic State beheading photos or Holocaust images. Some experts believe such material can also create biases within an AI generator itself: Tools like Dall-E-2 and Stable Diffusion have been criticized for reproducing racial stereotypes even when a text prompt doesn’t imply the subject’s race.

Such biases were why Google decided not to release Imagen, which had been trained on LAION. When reached for comment, Stability AI said it trained Stable Diffusion on a curated subset of LAION’s database. The company sought to “give the model a much more diverse and wide-ranging dataset than that of the original SD,” it wrote in an e-mail, adding that they tried to remove “adult content using LAION’s NSFW filter.”   Even advocates of open sourcebased AI warn of the implications of training AI on uncurated datasets. According to Yacine Jernite, who leads the Machine Learning and Society team at Hugging Face, generative AI tools based on tainted data will reflect its biases. “The model is a very direct reflection of what it’s trained on.”

Introducing guardrails after the product is up and running isn’t sufficient, Jernite added, as users will always find ways to circumvent the safety measures. “That’s what happens when you take a model that is trained to emulate what people do on the Internet in general and then say, ‘Okay, but don’t do that.’ People will find a way to still make it do that,” they said.

Gil Elbaz, founder of the data nonprofit Common Crawl, doubts whether “there’s a straight line that you can draw from the training sets to what’s produced,” and i nstead likened the process to an artist who goes to museums for inspiration but is blocked from making replicas of artworks. Instead, he said, “it’s important for society to decide what use cases are legal or not legal.”

It won’t only be left up to society. As regulators in Europe craft legislation to navigate the uses of artificial intelligence, they are grappling with the fact that the data now being mined for the current AI boom has for years been generated in a legal gray zone that is only now coming under serious scrutiny. “AI wouldn’t have been possible at this level of complexity without years of the accumulation of data,” said Tudorache, the European Parliament member.  But to Schuhmann, it’s not the datasets that should be monitored. In his eyes, the worst-case scenario for AI is one in which Big Tech is able to crowd out developers by catering their tools to a regulatory framework. “If we try to slow things down and over-regulate,” he warned, “there is a big danger that in the end, only a few big corporate players can afford to fulfill all the formal requirements.”

Bloomberg News

BALTICS CONDEMN CHINA ENVOY’S STANCE ON FORMER SOVIET NATIONS

By Jari Tanner

The Associated Press

HELSINKI—The three Baltic states have strongly condemned comments by China’s envoy to France, who appeared to suggest in a recent French television interview that former Soviet republics aren’t sovereign nations.

The foreign ministers of Estonia, Latvia and Lithuania in separate announcements late Saturday deemed statements by Lu Shaye, China’s ambassador to France, as unacceptable.

In a recent interview with the French news channel LCI, he was asked if he

thought that the Crimean Peninsula belongs to Ukraine. Russia annexed Crimea from Ukraine in 2014, a move that most of the world denounced as illegal.

“That depends...on how one perceives this problem,” the envoy told the broadcaster. “There’s the history. Crimea was at the beginning Russian, no? It was [Soviet leader Nikita] Khrushchev who gave Crimea to Ukraine in the era of the Soviet Union.”

When the channel’s presenter noted that according to international law, Crimea is part of Ukraine, the Chinese ambassador drew a parallel to the former Soviet republics—including the three Baltic

nations—that broke free after the USSR collapsed in 1991.

“With regards to international law, even these ex-Soviet Union countries, they do not, they do not have the status—how to say it?—that’s effective in international law, because there is no international agreement to solidify their status as a sovereign country,” he said.

Lithuanian Foreign Minister Gabrielius Landsbergis tweeted that “If anyone is still wondering why the Baltic States don’t trust China to ‘broker peace in Ukraine,’ here’s a Chinese ambassador arguing that Crimea is Russian and our countries’ borders have no legal basis.”

His Estonian counterpart, Margus Tsahkna, said Chinese ambassador’s comments were “false and a misinterpretation of history,” while Latvian Foreign Minister Edgar Rinkevics said that the statements were “completely unacceptable.”

Tallinn, Riga and Vilnius would each summon China’s ambassador or representative for an explanation of the envoy’s comments, the three Baltic countries said. European Union and Nato members Estonia, Latvia and Lithuania regained their independence in 1991 amid the fall of the Soviet Union after nearly five decades of Moscow’s rule.

In a separate statement, France’s Foreign Ministry expressed concern about the ambassador’s comments about ex-Soviet states and said: “It’s for China to say whether these comments reflect its position, which we hope is not the case.”

The French ministry said these countries gained independence “after decades of oppression” and that in the specific case of Ukraine, “the entirety of the international community, including China,” recognized its borders, including Crimea, when it declared independence in 1991.

European Union foreign policy chief Josep Borrell on Sunday criticized the

Chinese ambassador’s “unacceptable remarks” on former Soviet republics’ sovereignty.

“The EU can only suppose these declarations do not represent China’s official policy,” he tweeted.

President Vladimir Putin of Russia, which is China’s ally, has said several times that he doesn’t recognize the sovereignty of Ukraine. The Kremlin also has made clear that it perceives the independence of the Baltic states and their active role in Nato and the EU as threats to Russia’s security.

John Leicester contributed to this report from Paris.

IN front of a suburban house on the outskirts of the northern Germany city of Hamburg, a single word—“LAION”—is scrawled in pencil across a mailbox. It’s the only indication that the home belongs to the person behind a massive data gathering effort central to the artificial intelligence boom that has seized the world’s attention.

CHRISTOPH SCHUHMANN at a park in Hamburg, on April 20. MARIA FECK/BLOOMBERG

Sports

B8 Tuesday, april 25, 2023

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

Kaya keeps top spot after draw with Cebu

KAYA FC Iloilo refused to be daunted by Dynamic Herb Cebu’s valiant effort and its energetic home crowd as the league leaders came away with a precious point in a crucial Philippines Football League (PFL) clash Sunday at the Dynamic Herb Sports Complex in Talisay City.

K aya’s Japanese winger Daizo Horikoshi scored his 14th goal of the season before Jacob Liao found the equalizer as the league’s top two teams settled for a 1-1 draw.

It was a crucial result for Kaya as it kept a two-point advantage over Cebu in the title race with only three matches left for both teams.

K aya still has to play Maharlika, Mendiola and Stallion Laguna, while Cebu has two remaining matches against Stallion and the Azkals Development Team.

“ The players showed their worth,”

Kaya coach Yu Hoshide said. “This was an important result for us.”

H osting the final meeting of the season against their biggest rivals put Cebu in a strong position to wrest top spot.

But the Gentle Giants fell behind in the eighth minute when Mar Diano found Horikoshi at the far post for a close-range finish past Jun Badelic.

Egged on by the home crowd, the Gentle Giants found the equalizer 11 minutes later when JB Borlongan floated in a free kick into the area.

L iao was the quickest to react, slotting the ball past Zach Banzon to put the match back on a knife edge.

Even with the opportunities in the second half, the Gentle Giants struggled to find a cutting edge to pick apart a resolute Kaya defense and Banzon on goal.

“We needed to win to get the advantage and we were unable to get it,” Cebu coach Mehmet Kakil said.

Japan

beats India in inaugural Asia 7s final

By Rick Olivares

TAKAHARU NAKAGAWA broke

Indian hearts everywhere as he scored the title-clinching goal in Japan’s 3-2 win over India in the final of the inaugural BPI AIA Asia 7s Football Championships at the McKinley Hill Stadium Sunday. The Japanese striker—who scored a tournament high eight goals along with teammate Ryusei Okuma— received a well-placed pass by playmaker Shohei Agata and blasted a laser of a shot from 30 feet away with a minute to play.

A gata, stymied all match long by the man marking of India, called for a feed from Okuma 20 feet away from India’s goal. During a previous play, he asked Ryusei Okuma for the ball in the middle but the midfielder did not play the ball to him.

W ith a minute left, Agata planted himself outside the box and looked at Okuma, demanding the ball. This time, the winger acquiesced.

A gata fed Nakagawa and the striker did what he does best— score—in the process eluding valiant keeper Scott Moraes.

Japan coach Keller Costa prophesied the gold and his team delivered.

I ndia’s game plan was excellent— they marked all of Japan’s playmakers and hardly gave them daylight for passes and looks at the goal and took Agata and Okuma out of the game,

PBBM TELLS ATHLETES: YOU’LL BE CHAMPIONS!

By Josef Ramos

IT was one welcome and inspiring sight that significanty broke what has become a tradition—a sitting President descending from Malacañang Palace to send off athletes, coaches and officials who’ll do battle in a major international competition.

A nd what’s even more inspiring were the words that President Ferdinand “Bongbong” Marcos Jr. told his charmed audience.

Those who will go to Cambodia will become champions!” President Marcos said during Monday afternoon’s sendoff party for Team Philippines to the Cambodia 32nd Southeast Asian Games set May 5 to 17.

he did the opposite—travel to the Philippine International Convention Center, one of the iconic landmarks at the Cultural Center of the Philippines Complex that was built during his late father Ferdinand Sr.’s administration.

“ It is with a great pride and good deal of pleasure that I have to see all the distinguished athletes, trainers and coaches, and the rest of the Philippine delegation as you prepare for the 32nd Southeast Asian Games,” President Marcos Jr. told the more than 400 athletes, coaches and sports officials in attendance—more than half of the 840-athlete Team Philippines many of who are either abroad or in the provinces wrapping up their respective training camps.

why he’s making sure of his support to Filipino athletes.

P resident Marcos presented a Philippine flag to Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino as a symbol of Team Philippines’s mission in Cambodia.

A lso in attendance was Philippine Sports Commission Chairman Richard “Dickie” Bachmann, whose agency is fully supporting the athletes’ campaign.

Tolentino thanked President Marcos for attending the ceremony.

“Athletes are very inspired as the President approached them and wished them luck,” Tolentino said.

commissioners—Olivia “Bong” Coo, Fritz Gaston, Walter Francis Torres and Edward Hayco.

We are solid in our support to the Philippine team from our medical team to the working group,” Bachmann said. “And with his [President Marcos] leadership and all out support of the national government, we are sure that sports will go further to success as well as our athletes, who are also our national heroes.”

leaving Japan frustrated and at times, rudderless.

Nakagawa did foreshadow the ending if not his heroic when he scored also at death’s door in the 25th minute.

A nd how they came out for the second half was characteristic of the game.

Japan punched. India countered.

C linton D’Souza found Johnson D’Silva for the equalizer two minutes into the re-set.  But India’s reverie was short-lived as three minutes later, Tomoya Sekina gave the lead back to Japan with another strike.

Caitlin ‘Steph Curry’ Clark

WHEN I was watching Caitlin Clark’s US NCAA tournament highlights, the Golden State Warriors’ Steph Curry and the Women’s National Basketball Association’s (WNBA)

President Marcos broke what has become a tradition each time Filipino athletes are competing abroad. Instead of the delegation going to Malacañang,

W ith an air of desperation setting in, India drew level with a Mervin Stephen goal in the 41st minute.

W ith the match looking more and more like it was headed into extra time, if not a penalty shootout, Costa sent Agata back into the fray, not as a striker, but as the team’s pivot in the middle. It paid dividends as he started to get a better feel for the game.

A nd then came the assist to Nakagawa for the match winner.

P resident Marcos said he, too, played sports—football, shooting, fencing and squash—when he was young, but envied the athletes saying “he didn’t become a champion” that’s

“We will try our best to improve on our fourth place finish from last year’s SEA Games. It’s going to be a battle of who’s No. 1 to 4 and all athletes are excited to compete.”

B achmann was joined by his

No stopping Baisa; Torrecampo shines

BRICE BAISA continued to dominate the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) junior circuit by repelling top seed Vince Serna, 7-6(2), 6-2, in the boys’ 18-under final for another two-title romp in the Imus City National Championship at the Imus/Meadowood courts in Cavite over the weekend.

The rising 16-year-old star from Puerto Princesa City topped his age group as an unranked bet, upending top seed Reign Maravilla in a tight quarterfinal duel, 5-4(6), 5-3, then blasting the Dilao siblings to match his feats in the Iloilo, Roxas City and

S enate Sports Committee chairman Senator Christopher Lawrence “Bong” Go was also in attendance and vowed full support to Filipino athletes not only in the SEA Games but also in the other overseas competitions. “ Go, go, go Filipino athletes,” Go said. “We will always be there to support and give our 100 percent to them.”

Bacolod legs of the country’s longest talent-search presented by Dunlop early in the season. He routed France Dilao, 6-0, 6-2, in the 16-under semis then crushed Frank Dilao, 6-3, 6-1, for the crown. A s second seed in 18-under play, Baisa repeated over France Dilao, 4-2, 4-2, in the quarterfinals, reasserted his mastery of Maravilla, 6-4, 6-4, in the semifinals before turning back Serna with a mix of everything in the championship.

Young Maristella Torrecampo shared the MVP honors with Baisa with a victory and a runner-up finish in the girls’ side of the Group 2 tournament held under the junior tennis program put up by Palawan Pawnshop president and CEO Bobby Castro.

TNT Triple Giga, Vietnam share Asia 3x3 honors

TNT Triple Giga and Vietnam’s VN Red & Gold emerged men and women champions of the inaugural Asia Tour 3x3 by posting similar pulsating wins over the weekend at the SM Mall of Asia Music Hall.

Two days after TNT’s breakthrough win in the Philippine

celebrate their victory.

Phoenix Mercury’s Diana Taurasi came to mind.

Since she plays the 1, some of her assists, her passes reminded me of the NCAA’s all-time leading scorer, Pistol Pete Maravich, though without the flashiness and French pastry.

She has unlimited range and what makes her a tough cover for anyone is she can drive either left or right and finish at the basket with either hand so if you’re defending her, you’re better off funneling her to drive down the middle into the heart of your defense where your bigs are waiting. But she’ll pass the ball to her wide open teammate at the very last minute as the defender commits as Clark sucks in the defense.

A ccording to cbssports.com, “Clark was a scoring machine all season long, but she elevated her game in the past few weeks to get the Hawkeyes to their first-ever national title game. She dropped multiple 40-point games, and averaged 31.8 per game for the tournament. Her 191 total points set a new record for a player in a single NCAA Tournament—men’s or women’s.”

T he previous women’s record was held by Sheryl

Basketball Association Governors’ Cup on Friday night, TNT Triple Giga became the first champion of the two-day event after import Raoul Odou hit a buzzer-beating putback to complete a stirring 19-18 victory over Vietnam’s The Performance Lab Vietnam.

O dou’s slam capped TNT’s gritty

Swoopes, who scored 177 total points for Texas Tech in 1993 as she led them to the school’s only national championship. In the men’s tournament, the record belongs to Glen Rice, who scored 184 points for Michigan to carry them to what was also their only national championship in 1989.

W hile Clark’s scoring received most of the attention, and for good reason, she’s also a dynamic playmaker. If you send multiple defenders to force the ball out of her hands, or fall asleep for a split-second on the weak side, she’s willing and able to find her teammates.

C lark’s eight assists in the title game on Sunday took her to 60 for the tournament and an even 10 per game average.

The 60 total assists set a new record for a player in single women’s tournament. She fell just shy of Mark Wade’s 61 assists for UNLV in 1987, which is the men’s mark.”

I t’s pick your poison for this future WNBA superstar which makes you ask why isn’t her name in the 2023 WNBA draft, we go back to cbssports.com,

stand after playing without injured star Samboy de Leon in the finals six minutes of play.

T NT’s win denied Vietnam of a sweep of the tournament after VN Red & Gold pulled off a thrilling 2116 come-from-behind win over Sniper Thailand on Saturday behind Kaylynne Truong’s heroic.

“The WNBA official rules require players to be 22 years old the year of the draft.”

The other option according to the rules is to have already graduated from a four-year college or university, or graduate during the three-month period following the draft.

For an international player—who the WNBA defines as a player who was born and resides outside of the United States—the rule is that she has had or will have her 20th birthday during the calendar year in which the draft is held.

Th at wasn’t always the case as the youngest WNBA player to ever get drafted was Australian Lauren Jackson at 17 years old as the No. 1 overall pick in 2001. She played with the Seattle Storm until 2012 and was a two-time WNBA champion as well as a three-time WNBA MVP.

W hy aren’t the rules the same for the NBA and WNBA?

A nyway, Clark is a 6-foot point guard so she has good size for the position in the women’s game. Good size will allow her to see the floor better which will give opposing defenders nightmares.

KAYA FC’s Fitch Arboleda clears the ball away from Cebu’s JB Borlongan.

THE Japanese players and coaching staff

PRESIDENT Ferdinand “Bongbong” Marcos Jr. applauds along with Philippine Sports Commission Chairman Richard “Dickie” Bachmann as Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino waves the Philippine flag symbolic of a fighting Team Philippines campaign in the Cambodia Southeast Asian Games. The President later joins a team photo with Senator Christopher Lawrence “Bong” Go, , Rep. Richard Gomez, House vice chair for sports Rep. Aniela Bianca Tolentino of Cavite’s Eighth District and Press Secretary Cheloy Garafil. PHOTOS BY ROY DOMINGO

BRICE BAISA wins two titles anew.