BusinessMirror August 02, 2021 by BusinessMirror

By Jun Lomibao

Sports Editor

OKYO—Eumir Felix Marcial is living up to his lofty billing at the Tokyo Olympics. And he did so emphatically on Sunday. Marcial knocked out fellow pro Arman Darchinyan of Armenia in the first round of their men’s middleweight quarterfinal bout at the Kokugikan Arena, assuring not only himself of a medal in his Olympic debut, but the Philippines’s third medal as well. “It’s muscle memory which I developed through long hours of training under my coaches,” said Marcial, referring to the 1-2 jab-straight textbook punches he used in setting up a jarring right hook that sent Darchinyan out for good with 49 seconds remaining in the opening round.

A minute into the fight, the same 1-2 combination hurt the Armenian, forcing the referee to give him a mandatory standing 8-count. All smiles during the postfight interview, Marcial said he is dedicating his campaign to his dad, Eulalio, who dreamt of his son fighting in the Olympics. “This is my father’s dream, and my dream, to fight in the Olympics,” Marcial said. “And with me assured of a medal, I have overtaken my dream.” Marcial could do even better, just like fellow boxer Nesthy Petecio who’s in the women’s featherweight gold medal play after defeating a taller Italian on Friday. The 25-year-old pride of Zamboanga City fights former tormentor Oleksandr Khyzhniak of Ukraine in the semifinals on Thursday, hoping for a chance to match Hidilyn Diaz’s historic gold medal in women’s

weightlifting. The Kasumigaseki Country Club course, meanwhile, wasn’t that friendly to Juvic Pagunsan. Pagunsan closed out with a one-under par 70 also on Sunday to wind up in 55th place in a field of 60 in the men’s competition of golf, finishing 19 shots behind gold medal winner Xander Shauffele of the US. And Carlos Yulo returns to the Ariake Gymnastics Center on Monday night for the finals of the men’s vault in artistic gymnastics with mission—seek redemption after crashing out of his pet floor exercise in the qualifying round more than a week ago. Yulo ranked sixth in the eight-gymnast final which Yulo’s Japanese coach Munehiro Kugimiya said could be a showdown between South Korea’s Shin Jeahwan and Turkey’s Ahmet Onder. More Olympics stories in Sports, page A12.

TOKYO OLYMPICS MEDAL COUNT RANK

TEAM/NOC

People’s Republic of China

United States of America

GOLD Silver Bronze TOTAL

Japan

Australia

ROC

Great Britain

France

Republic of Korea

Netherlands

Germany

New Zealand

Czech Republic

Canada

Switzerland

Croatia

Italy

Philippines

Source: Olympics.com | As of August 2, 2021 | 8:28 p.m8

Marcial knocks out Armenian foe

PHL BIZ SECTOR BRACES

Monday, August 2, 2021 Vol. 16 No. 292

P25.00 nationwide | 2 sections 20 pages |

FOR THIRD ECQ IN NCR By Tyrone Jasper C. Piad @Tyronepiad

NG SUBSIDIES TO GOCCS LOWER BY A THIRD IN H1

HE business sector is gearing up for another bumpy ride with the upcoming implementation of enhanced community quarantine (ECQ) in the National Capital Region (NCR) amid the growing cases of Covid-19 Delta variant.

By Bernadette D. Nicolas @BNicolasBM

UBSIDIES extended by the national government for the first half of this year settled at P88.3 billion, almost a third down from the same period a year ago. Data from the Bureau of the Treasury showed the amount of subsidies handed out to government-owned and -controlled corporations (GOCCs) from January to June this year was 31.4 percent lower than last year’s P128.7 billion. This was also 50.5 percent below the P178.2- billion program for subsidy releases set by the government during the period, based on the national gover n ment d i sbu rsement performance report by the Department of Budget and

This will be the third time that the country’s capital is put under the strictest form of community quarantine, which is seen to further hamper mobility, employment, consumer spending and demand. While preparations may vary according to industry, the business leaders interviewed by the BusinessMirror pointed out that enforcing ECQ will affect operations. The government announced last week that Metro Manila will be subject to ECQ on August 6-20. “Preparations will obviously vary per sector but some examples are ensuring the workforce are equipped to work from home, stocking up on supplies and ensuring supply chains continue to operate and are disrupted as little as possible,” Management Association of the Philippines (MAP) National Issues Committee Chairperson Rizalina Mantaring said. George T. Barcelon, Philippine Exporters Confederation Inc. (Philexport) chairman, echoed the same concerns with the supply chain, especially for the part of the export-oriented manufacturers. He said that exporters may encounter challenges when it comes to transporting supplies coming outside Metro Manila given the anticipated restrictions. The companies will also need to work around with new schedules of production, considering the ECQ and its impact on mobility of the employees as well, the Philexport official explained. In addition, Barcelon said the firms may need to coordinate with their clients for the potential delays in shipments. “They [exporters] have to tell their buyers of the delay. They might lose some orders,” he said. Continued on A2

PESO exchange rates n US 50.3420

Management (DBM). Total subsidy released during the period was down yearon-year mostly due to the one-time P51-billion Small Business Wage Subsidy Program implemented through the Social Security System in April and May 2020, according to DBM. The budget department also noted in the same report that subsidy fell below the program due to the timing of releases pending submission of special budget releases by the GOCCs, such as the Philippine Health Insurance Corporation (PhilHealth), National Irrigation Administration (NIA), Bases Conversion and Development Authority, National Housing Authority (NHA) and National Electrification Administration. See “NG subsidies,” A2

‘Pandemic scarring’ to dent growth, but PHL has better outlook than others–Oxford

Eumir Felix Marcial makes knocking out Arman Darchinyan of Armenia look easy. AP

ECLINES in the country’s economic growth are still expected to linger, even after the global health crisis is over, an international think tank said. In a recent analysis of the Philippine economy, Oxford Economics said the local economy will experience the so-called “pandemic scarring” that will lower the country’s long-term growth. Oxford Economics economist Sian Fenner said they estimate the “the long-run nominal neutral

policy rate” of the Philippines to hit 5 percent, slashing their earlier forecast of 5.5 percent. Oxford Economics defines longrun nominal neutral policy rate as the rate at which the economy is in equilibrium and monetary policy fully normalized. Fenner said the recalibration of their neutral rate forecasts primarily reflects the long-term impact of the pandemic on their forecasts for potential GDP [gross domestic product] growth. See “Pandemic,” A2

n japan 0.4599 n UK 70.2925 n HK 6.4787 n CHINA 7.7970 n singapore 37.2270 n australia 37.2279 n EU 59.8566 n SAUDI arabia 13.4231

Source: BSP (July 30, 2021)

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A2 Monday, August 2, 2021

Cops at QCPs told: Ensure free flow of essential goods

By Rene Acosta

@reneacostaBM

HE Philippine National Police has ordered its personnel who will man Quarantine Control Points (QCPs) to ensure the free movement of cargo vans or trucks carrying essential goods as the stricter border control in Metro Manila begins ahead of the implementation of the Enhanced Community Quarantine (ECQ) in the National Capital Region.

At the same time, National Police chief General Guillermo Eleazar reminded the public that there are only two Authorized Person Outside Residence (APORs) who will be allowed entry into Metro Manila and these are the essential workers or “Workforce APORs” and the ”Consumer APORs.” Workforce APORs are those

whose companies, businesses or industries they work in are allowed to operate under the ECQ while the Consumer APORs are those allowed to go out to avail themselves of the services of the businesses. Police will only allow APORs to pass if they present their IATF identification cards issued by regulatory agencies and valid IDs or pertinent

NG subsidies… “The delays in the request from the said GOCCs may be attributed to compliance [with] documentary re-

Continued from A1

quirements, and late submission of progress billings from contractors,” it said.

documentation issued by establishments allowed to operate under the current quarantine status. On Saturday, Secretary of the Interior and Local Government Eduardo Año tasked the Joint Task Force COVID Shield headed by Police Lt. Gen. Israel Ephraim Dickson to start the stricter border control in NCR Plus in Cavite, Bulacan, Laguna, and Rizal starting midnight on August 1. The NCR will be under ECQ from August 6 to August 20 as part of the measures to contain the spread of the virus amid the rising number of cases of virulent Delta variant. “We should also ensure the free passage of cargo or delivery vehicles transporting essential items such as food supplies. Kailangan ito upang hindi matigil ang dating ng suplay ng mga pangunahing pangangailangan ng ating mga kababayan [This is needed so that the arrival of supply for the basic needs of our countrymen will not stop],” Eleazar said. The stricter border control began on Sunday with QCPs manned by combined elements of the Philip-

pine National Police, Armed Forces of the Philippines, Philippine Coast Guard and the Bureau of Fire Protection having been put up in the borders of Rizal, Cavite, Laguna and Bulacan with their adjoining provinces. There are no QCPs inside the NCR Plus area which groups Metro Manila with Bulacan, Rizal, Laguna and Cavite. “At the moment, the QCPs are at the borders of Bulacan, Rizal, Laguna and Cavite with adjoining provinces but once we move to ECQ starting August 6, checkpoints will now be located inside Metro Manila,” Año said. He said that the QCPs are located at the borders of Bulacan with Pampanga and Nueva Ecija, Rizal with Quezon, Laguna with Batangas and Quezon, and Cavite with Batangas. The DILG secretary said that nonetheless, the PNP may still install regular checkpoints inside the NCR Plus bubble to implement curfew hours, enforce minimum health standards and for general law enforcement.

For the first semester of this year, PhilHealth received more than half or P45.46 billion of the total subsidies given out during the period. Trailing PhilHealth are NIA which received P16.84 billion, NHA (P7.3

billion), National Food Authority (P7 billion), and Philippine Crop Insurance Corporation (P1.75 billion).

June subsidies 80% down

For Ju ne a lone, t he gover n ment only released P8.34 billion in GOCC subsidies. This was an 80.16-percent plunge from last year’s P42.03 billion. Taking the biggest subsidy for the month of June is the NIA, which received P2.65 billion. It was then followed by NHA (P2.12 billion), Civil Aviation Authority of the Philippines (P903 million), National Home Mortgage Finance Corporation (P824 million), and the Philippine Coconut Authority (P597 million). The national government provides subsidies to state-run firms to fund operations not covered by the corporate revenues or to finance specific programs or projects. Last year, the national government spent a total of P229.02 billion in subsidies to GOCCs, the highest since 1986 when the government started collecting data. PhilHealth cornered the biggest allocation, receiving P62.4 billion or 27.25 percent of the total subsidies released during the period.

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PHL logs over 8,000 Covid cases for 3 straight days

HILE the threat of Delta variant looms, the Philippines has recorded over 8,000 Covid-19 cases for three straight days. On Sunday, the Department of Health (DOH) reported 8,735 additional cases with 5,930 recoveries and 127 deaths. The total Covid-19 cases in the country stood at 1,597,689 Of the total number of infections, 4 percent (63,646) are active, 94.3 percent (1,506,027) have recovered, and 1.75 percent (28,016) have died. The DOH said that 11 duplicates were removed from the total case

count. Of these, 8 are recoveries. Moreover, 9 cases previously tagged as recoveries have been validated to be active cases and 75 cases that were previously tagged as recoveries were reclassified as deaths after final validation. Two laboratories were not operational on July 30, 2021 but four laboratories were not able to submit their data to the Covid-19 Document Repository System. Based on data in the last 14 days, the four non-reporting and two non-operating labs contribute, on average, 1.8 percent of samples tested and 1.3 percent of positive individuals. Claudeth Mocon-Ciriaco

Duterte OKs placing Apayao, Laguna, Aklan under MECQ

RESIDENT Duterte approved the recommendation to place Apayao, Laguna, and Aklan under Modified Enhanced Community Quarantine (MECQ), the second strictest form of lockdown being implemented by the government. Presidential Spokesman Harry Roque on Sunday said these three areas will be under MECQ from Au-

gust 1 to 15. This after the InterAgency Task Force (IATF) for the Management of Emerging Infectious Diseases made the recommendation to the President. Laguna and Aklan were previously placed under General Community Quarantine (GCQ) with heightened restrictions while Apayao was under GCQ.

Pandemic… “The pandemic will have a lasting negative impact on Asia-Pacific (APAC) economies, and we forecast the Philippines to experience one of the largest permanent losses in output, with GDP levels in 2025 likely to be 8.4 percent lower than our prepandemic projections—the equivalent of 1.75 trend-years of lost growth,” Fenner said. Fenner blamed the mismanaged number of cases in the country and the fiscal response of the government, which led to their lower long-term growth forecast of the country. “Not only has the Philippines struggled to contain outbreaks since the pandemic took hold, the fiscal response has been meager considering the stringency of its lockdowns. This has led us to lower our investment and employment forecasts significantly,” Fenner said.

Still among fastest-growing

Despite downgrading the Philippines’s long-term growth fore-

Continued on A7

Continued from A1

casts, Fenner said Oxford Economics still expects the country to be one of the fastest growing economies in the reg ion and globally. “Although we expect the contribution from labor to soften over the long-term, the Philippines will continue to benefit from the so-called ‘demographic dividend’; that is the boost to growth from labor supply growing faster than the dependent population,” Fenner said. “What’s more, a high savings rate and still very favorable returns on capital also augur well for investment, capital stock, and productivity, despite a somewhat softer outlook due to the pandemic. Productivity growth will also continue to benefit from a catch-up with the US,” the economist added. The local economy posted a 4.2 percent contraction in the first quarter of the year. The government’s target range for full-year growth is at 6 to 7 percent. Bianca Cuaresma

PHL BIZ SECTOR BRACES FOR THIRD ECQ IN NCR

Continued from A1

Ecozones

On the part of company locators, Philippine Economic Zone Authority Director General Charito Plaza said they are preparing to scale down on-site workforce in accordance with the health protocols during ECQ. Plaza said the ecozone locators are allowed to enforce work-fromhome arrangement for up to 90 percent of their employees. Only a skeletal labor force of 50 percent in the production areas will work, and will be provided with housing and shuttle service. “It’s costly providing housing and shuttle services which are also scarce and [there’s the] distance of housing facilities from ecozones,” she said. “It [ECQ] will affect quota of production and inconvenience to workers and locators.” Employers, meanwhile, are likely gauging if there is a need to lay off some workers given the foreseen adverse impact of the hard lockdown, Employers Confederation of the Philippines (Ecop) President Sergio Ortiz-Luis Jr. said. He said the following will be the

most affected in terms of employment during ECQ: non-essential sectors, tourism, restaurant, hotels and no-work-no-pay workers, among others.

‘Definitive’ lockdown

While businesses are against the hard lockdown due to economic repercussions, Philippine Chamber of Commerce and Industry (PCCI) Acting President Edgardo Lacson said the sector will comply to avoid the spread of the Covid-19 infection. Still, PCCI is hoping that the lockdown period is “definitive” and will be “lifted at the earliest possible time. “The biggest challenge is to regain the stalled momentum, sustain the recovery trajectory, keep the workers, and meet fixed operating expenses,” Lacson explained. German-Philippine Chamber of Commerce and Industry, Inc. (GPCCI) President Stefan Schmitz said the imposition of ECQ will unfavorably impact the economy, including the foreign direct investment. “While we understand that there

is a significant rise in the Delta variant transmission, we believe that strict measures to contain any variant of Covid-19 are already in place,” he said. The GPCCI official said the rollout of the vaccination program should be accelerated. “More so the business sector is thinking at what point restrictions for vaccinated people may be eased or even lifted,” he added. Makati Business Club Executive Director Coco Alcuaz, for his part, said they will continue to work with the government in administering the vaccination in all sectors. In addition, the business group vows to take part in calibrating policies allowing the economy to reopen safely. Trade Secretary Ramon Lopez said that the government will continue to closely monitor the related developments on the Covid-19 Delta variant cases. Meanwhile, he said that agriculture and manufacturing activities will still be allowed even during ECQ, assuring the public of enough supply of goods in the market.

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Creation of ‘business bubbles’ during 2-week ECQ proposed By Jovee Marie N. Dela Cruz @joveemarie

O keep businesses afloat in the upcoming two-week enhanced community quarantine (ECQ) in the National Capital Region, a lawmaker recommends the formation of “business bubbles.” With more than 7 million fully vaccinated individuals and testing has become routine in many places, Marikina Rep. Stella Luz A. Quimbo urged the government to allow “business bubbles” to operate during the 2-week ECQ that will start on August 6. “By creating these bubbles, we will promote micro-herd immunity and safe spaces,” Quimbo said. “[With the bubbles] it is entirely possible that we will not incur the same devastating economic losses we suffered during the previous ECQs.” The lawmaker said workplaces that are willing to test workers should be allowed to operate. “If you are fully vaccinated, you can go to work and can buy food; and, that means, there is no need to close businesses.” According to Quimbo, the country would lose an estimated P18 billion each day of lockdown. “[Of the P18 billion] P12.5 billion [are] in unearned wages— meaning value of output of daily wage and piece rate earners—and

payroll costs shouldered by nonessential businesses during lockdown plus about P5.5 billion in unearned corporate income,” the lady solon said. “Since the private sector has been vaccinating their employees, local government units (LGUs) should now focus on vaccinating the families and households of workers. Let the efforts be complementary. Between the efforts of the private sector and the LGUs, Filipinos can be protected from Covid while at home and while at their places of work,” Quimbo added. But the lawmaker said the government should also implement “transportation bubbles” for these business bubbles to succeed. “There should be dedicated buses and other PUVs that are only for fully vaccinated individuals. But [these vehicles must] still [be] subject to minimum health standards,” she said, “through being vaccinated and implementing these business bubbles people will then have increased mobility.” For his part, House Committee on Ways and Means Chairman Joey Sarte Salceda said the government should only implement ECQs as a last resort and only when it will work better than a combination of testing, tracing, treatment capacity expansion and stronger minimum health standards.

He cited an experience in May when doctors’ groups were pressuring Albay to declare an ECQ due to a Covid-19 surge. “I said, sorry, we cannot. Instead, we expanded health care capacity seven times, vaccinated our most vulnerable, strengthened our antiCovid protocols in workplaces and distributed face masks to virtually everyone. That second wave is over and we never had to declare ECQ,” he said. “ECQs only work when done early enough. It does not work not in response to a wave, because its impact is lagged. We’ll see its benefits only a month later, since we’re implementing it only week. So, I have second thoughts about whether it will work this time,” Salceda said. The lawmaker added that the best way to confront the Delta variant is really to vaccinate people quickly.

Pass Bayanihan 3

MEANWHILE, Quimbo, Salceda and Speaker Lord Allan Velasco reiterated their call for the immediate passage of House Bill No. 9411; the “Bayanihan to Arise as One Bill” or “Bayanihan 3.” “We also need to promptly pass and implement Bayanihan 3 to fasttrack procurement of vaccines and also make its roll-out more efficient,” Quimbo said.

Monday, August 2, 2021 A3

Suspend mandatory weighing of containers, exporters urge By Tyrone Jasper C. Piad @TyronePiad

HE export industry stakeholders asked the Philippine Ports Authority (PPA) to suspend the mandatory weighing of export containers amid the ongoing development of a calibration system for weighing scales. In a petition letter to PPA Vice Chairman Jay Daniel R. Santiago, the Philippine Exporters Confederation Inc. (Philexport) and Export Development Council (EDC) asked the agency to postpone the implementation of Administrative Order (AO) 02-2021, which provides the revised guidelines in mandatory weighing of the said containers. The AO, which was enacted on June 16, covers all export containers passing through government ports under PPA’s administrative jurisdiction. Both parties suggested that PPA coordinate with the Department of Trade and Industry (DTI) and the Department of Science and Technology (DOST) on facilitating the calibration of the weighing scales and bridges at the ports. They also want to have a certification system put in place to prove the equipment has been officially calibrated, recommending the issuance of the certificate by

the DTI or DOST. The petition came after Philexport’s appeal last month, asking to suspend said policy until the results of the required calibration to ensure that weighing scales were not defective or deficient. “We have been receiving complaints from our members mainly on the discrepancy in the declared container weights obtained using the exporter’s weighing scales, compared with the weights from the weigh bridges/scales of the port operators. This has led to many shut out fees (some containers of which were eventually loaded after paying the fees) and actual shut outs,” Philexport President Sergio OrtizLuis explained. “We expected that the PPA would have done due diligence to ensure that this challenge is addressed first prior to implementation. But the current situation shows otherwise, and the damages are piling up at the expense of our exporters,” he added. Ortiz-Luis said the concerns over mandatory weighing add to the burden of the exporters, including lack of vessel space and increased freight rates. Meanwhile, Philexport also joined the call to postpone the 15.33-percent cargo-handling rate increase Manila North Harbour

Port Inc. (MNHPI). Ph i le x por t E xec ut ive Vice President Senen Perlada said rate increase “should be postponed until the required Regulatory Impact Assessment to determine the regulatory burden of the proposal can be conducted.” Ortiz-Luis said that the proposed tariff hike will also be another concern for struggling micro, small and medium enterprises’ cost of doing business. “We must anticipate that the rate increase will further diminish the country’s competitiveness, drive away investors and discard the efforts of government agencies and stakeholders to bolster ease of doing business in the country. Moreover, the added cost will ultimately be borne by the end consumers—the ordinary Filipino people, and our foreign buyers,” he added. Earlier, the Supply Chain Management Association of the Philippines and EDC also appealed the proposed tariff hike by MNHPI. “ We strongly recommend the postponement of the proposed rate increases of MNHPI to give ample time for struggling business to recovery from the pandemic-inflicted losses,” they said in a position paper sent to PPA last month.

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A4 Monday, August 2, 2021

Supporters start campaign for Sara’s presidential bid By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

AVAO CITY—Supporters mounted last Saturday outside Davao City the first campaign to push the Presidential bid of this city’s mayor, Sara Duterte-Carpio. In a video documentary posted last Sunday on YouTube, supporters in more than 500 various vehicles milled around the sports area in

Montevista, Davao de Oro (formerly Compostela Valley) to rally support for Duterte-Carpio. Her political party, the Hugpong ng Pagbabago (HNP), has wished to carry the party standard in next year’s Presidential election. The gathering was dubbed “Lipad Agila Lipad,” and touted as the “Grand Launch Davao Region” of “Ituloy ang Pagbabago Movement 2022,” the supposed campaign vehicle of Mayor Duterte-Carpio’s presidential bid. The YouTube post by a group

calling itself “Interactive Pilipinas Media” said to observe public health protocol, only 900 persons were invited to the launching ceremony. Among the speakers were: Gov. Anthony del Rosario of Davao del Norte, the secretary general and spokesman of HNP; Davao Occidental Gov. Claude Bautista, the vicepresident of HNP; and Davao de Oro Gov. Jayvee Tyron Uy, the treasurer of HNP. A subsequent video post also

shows the opening of IPM2022 headquarters earlier last month in some Metro Manila cities, such as in Marikina, Muntinlupa and Parañaque. Former movie actress, Alma Moreno, who is also a former councilor in the town, was interviewed being the chapter chairman of the Paranaque IPM2022. Duterte-Carpio has kept her silence and did not attend the Montevista gathering, But vehicles and the stage were emblazoned by pictures of the mayor.

Drilon deplores prioritizing funding vs insurgency and not for ‘ayuda’ By Butch Fernandez @butchfBM

ENATE Minority Leader Frank Drilon deplored the Duterte administration’s scrambling for funds for ‘ayuda’ but “quick to release” P16.3B anti-insurgency funds. The opposition lawmaker lamented Sunday that while the government scrambles to source funds for the special amelioration program or “ayuda” when Metro Manila and other regions revert to an enhanced community quarantine (ECQ) next week, the government had already released up to the last centavo of the P16.3 billion anti-insurgency funds, P4 billion of which went to Davao region. Drilon deplored how the P16.3 billion could have been used instead for the much-needed ayuda that can put the food on the table of around 4.2 million Filipino families who experienced hunger during the pandemic. Drilon said that a P4,000 per

family, the fund, which was lodged under the heavily-criticized National Task Force to End Local Communist Armed Conflict (NTF-ELCAC), can benefit four million Filipino families when Metro Manila and other regions revert to enhanced community quarantine from August 6 to 20 to control the surge in Covid-19 cases in the country. “ Nakakalungkot po na may pondo para sa anti-insurgency pero walang pondo para sa ayuda,” Drilon said last Sunday. [It is unfortunate that there is funding for anti-insurgency but no funding for aid. Drilon said the government’s scrambling for funds can derail the distribution of the much-needed financial relief to poor Filipinos, which they would need when the country returns to ECQ. The Senate chief fiscalizer pushed for the inclusion of the funding for special amelioration program in the 2021 national budget but it was not a priority of the government compared

to anti-insurgency. ”Hindi po nakinig ang pamahalaan,” he said. [The government didn’t listen.] “It is obvious that the government is giving priority to anti-insurgency over the need for ayuda and other health and social needs of our country necessary for us to move forward with our pandemic response,” the lawmaker emphasized. Drilon cited the releases for NTFElcac’s anti-insurgency program and said that the government had already dispensed to the last centavo the controversial anti-insurgency fund. In a 4-month period, the Department of Budget and Management (DBM) released a total of P16.3 billion for NTF-ELCAC’s Barangay Development Program. He noted that P3.3 billion was released last March, P7.68 billion last April, P2 billion last May and P3.41 billion last June. And lest we forget, Drilon said, P4 billion was allocated to Davao. The lawmaker cited data from the DBM.

“Ngunit itong ayudang kailangangkailangan natin, wala tayong pera,” he said. [But we desperately need this aid; we don’t have money].” Drilon said that what we see in the government today strengthens the call for a budget for ayuda in the 2022 national budget. “We must provide for SAP [social amelioration program], not for antiinsurgency. I would like to see the 2022 national budget to give priority to 4Ps, the [SAP] or ayuda, the health and education sectors,” Drilon stressed. This as he vowed to oppose any budget for NTF-ELCAC for 2022, which is an election year. Secretary Eduardo Año recently said that they will propose P40 billion for NTFELCAC next year, double its present level of P19.2 billion. Drilon also supports another round of “cash sweep” in order to generate funds to assist Filipinos and businesses heavily-affected by the pandemic, most especially when the country reverts to ECQ again this month.

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DENR issues several orders against illegal occupants at Upper Marikina River Basin By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural Resources (DENR) is stepping up the campaign to address the illegal squatting problem within the Upper Marikina River Basin Protected Landscape (UMRBPL) with the issuance of show-cause orders and ceaseand-desist orders (CDO) against illegal occupants in the area. The DENR Calabarzon said a total of 80 show cause orders and 43 ceaseand-desist orders have been issued to owners of buildings within the UMRBPL. They are deemed illegal occupants upon initial investigation by the DENR. In Barangay Calawis, Antipolo City, those issued with CDOs are owners of a piggery, a resort, camp and retreat center and a retreat house. Most of those issued with CDOs are also owners of occupants of houses built along rivers. DENR Calabarzon Regional Executive Director Nilo B. Tamoria reminded the public that construction within the protected area without the necessary permit is a violation of Section 20 of Republic Act 7586 or the National Integrated Protected Areas System (Nipas) Act and its amendatory law, Republic Act 11038 or Expanded NIPAS Act; and Section 21 of both laws. Penalty for violation of the said law includes a fine reaching up to P5 million and a jail term from six years to a dozen years. The issuance of show cause and cease-and-desist orders has been properly coordinated with the Task Force “Build Back Better” (TF BBB) that’s mandated by Executive Order 120, according to Tamoria. In a statement, Tamoria appealed for stronger collaboration between

various government agencies, nongovernment organizations, people’s organizations and environmental groups to tighten watch in stricter implementation of environmental laws within protected areas.

Park rangers

MEANWHILE, the DENR Calabarzon condemned the attack against two park rangers of Masungi Georeserve who both suffered gunshot wounds during an incident last July 24. The park rangers were shot while patrolling the UMRBPL. Tamoria said the DENR recognizes the private sector, NGOs and the agency’s other partners in protecting and conserving the environment. The DENR Calabarzon chief said they are coordinating with the Philippine National Police and the 80th Infantry Battalion of the Philippine Army to identify the perpetrators of the attack and to sustain the ongoing monitoring and patrolling activities within the UMRBPL. According to the Global Witness Report, in 2019, the Philippines is the second-most dangerous place for environmental defenders. The DENR is currently pushing for the passage of a measure that will create or establish the Environmental Protection and Enforcement Bureau (EPEB). Through the EPEB, the DENR believes it will have more teeth in enforcing environmental law which is part of the agency’s mandate without necessarily compromising the safety and security of forest protectors and other environmental officers. The EPEB Bill was filed with four principal sponsors and 13 co-sponsors at the House of Representatives. Its counterpart meaure was filed in the Senate by two sponsors.

Population commission seeks new image POEA requires interview of applicants to risky jobs of family planning as empowering couples By Bernadette D. Nicolas

HE Commission on Population and Development (Popcom) aims to change the image of family planning in the coming years to better improve the lives of Filipino families. Undersecretary for Population and Development Juan Antonio Perez III said during a recent UsapTayo episode aired on social media that family planning is not only about limiting the number of children a couple can have but also planning their future. Perez said family planning is also about giving parents and couples the freedom to create their desired future for their family. This, he said, will also bring growth and development

to the Philippines. Family planning means a couple has a strategic view of raising a family which means you are not only planning how many children you have but also their future, Perez said in Filipino. Perez said family planning is a path toward a stable, comfortable and secure life, or “Matatag, Maginhawa at Panatag na Buhay,” which is the vision of Filipinos based on “AmBisyon2040.” He said improving the quality of life of Filipino families does not only fall on the shoulders of the government but also on the shoulders of every household. Popcom said the national and local governments have put in place

measures to safeguard and promote a Filipino child’s welfare and wellbeing, as well as interventions that protect kids from serious health and development concerns. “As the government responds to the needs of Filipino families, especially in terms of health and education during the health crisis and a growing young population, Popcom continues to address the most significant and emerging issues surrounding their capacities as contributors to national development and its pursuit of the elusive ‘demographic dividend,’ with our children, of course, factored-in into the equation,” Perez noted. Cai U. Ordinario

@BNicolasBM

ORKERS applying for jobs that are considered potentially vulnerable to exploitation and maltreatment are now required to undergo an interview with the Philippine Overseas Employment Administration (POEA). In its bid to further guarantee the protection and safety of these Filipino workers, the POEA said they have already included the interview of applicants in its standard procedure on the evaluation of requests for exemption from the policy on direct hiring. The POEA said in a statement on

Sunday workers who are considered at risk of possible maltreatment include the following: waiter/waitress; wine host/wine hostess; masseuse/ massage therapists; spa therapists; food and beverage attendants; hotel attendants; service/maintenance crew; entertainment workers; and, agricultural workers. “Such workers are required to undergo an interview by the PreEmployment Services Office and/ or the Anti-Illegal Recruitment Branch of the POEA upon receipt of the workers’ application for clearance and approval of the Administrator at the Direct Hire Assistance Division. The interview may be held through personal appearance or any online platform available to

the worker,” it said. Under the Labor Code, direct hiring of Filipino workers for overseas employment, except those to be employed by international organizations, members of diplomatic corps, head of state and government officials with the rank of at least deputy minister and other employers as may be allowed by the Secretary of Labor and Employment. Of the total 23,986 cases reported to Overseas Workers Welfare Administration in the Middle East in 2020, maltreatment and/or mistreatment cases accounted for 25.2 percent or 6,045 cases. Majority or 5,500 of these cases were reported cases of female workers being maltreated or mistreated.

More than 300 domestic flights cancelled as govt imposes ECQ

HE three largest domestic carriers—Philippine Airlines (PAL), Cebu Pacific (CEB) and Air Asia—cancelled more than 300 domestic flight from July 30 up to August 5. PAL said the suspension of some of its flights is up to August 20 due to newly-imposed restrictions on non-essential travel. The Duterte government has again placed the National Capital Region and nearby provinces (NCR Plus Area) under a more stringent General Community Quarantine with Heightened Restrictions (GCQ-HR) from July 30 to August 5 and on a 2-week Enhanced Community Quarantine (ECQ) beginning August 6 until August 20. PAL cancelled more than 200 domestic flights to Caticlan (Boracay), Busuanga, Puerto Princesa, Cebu, Davao, Cagayan de Oro, Tagbilaran (Panglao), Tacloban, Dipolog, Dumaguete, Kalibo, Bacolod, Cebu-Siargao-Cebu; Cebu-Caticlan (Boracay) and Cebu-Cagayan de Oro, Cebu Pacific cancelled about a hundred domestic flights from July 30 to August 6, and from August 31 to August 5. Cebu Pacific and Cebgo will be cancelling the following flights beginning July 31 to August 5: Bohol; Boracay (Caticlan); Cebu-Clark-Cebu; Coron; Davao; Naga; Ozamiz; Roxas; San Jose, Cebu-Siargao-Cebu; and, Tacloban. AirAsia cancelled about 39 domestic flights from July 31 to August 6. The flights cancelled are bound from Manila to Caticlan, Cebu, Cagayan de Oro, General Santos, Davao, Zamboanga, Puerto Princesa and Bacolod. Recto Mercene

BORDER LINE

Members of the Parañaque police maintain a checkpoint for every motorcycle rider and motorist entering the border of Pasay City and Parañaque City as the National Capital Region would be placed under enhanced community quarantine effective August 6 to 20. ROY DOMINGO

BusinessMirror

www.businessmirror.com.ph

Monday, August 2, 2021 A5

Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362 August 02, 2021

NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP)

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. HITOSHI TAKAHASHI Japanese

Treasurer and Managing Director Keep full and accurate account of receipts and disbursements in the books of the corporation.

USD2,760.00USD2,800.00/month

Notice is hereby given that the following employers have filed with this Regional Office application/s for Alien Employment Permit/s. Name and Address of Employer: BRICKHARTZ TECHNOLOGY INC. Lot 4044 Molino Blvd. Niog III, Bacoor, Cavite

Name and Address of Employer: DJK FACTORY SOLUTIONS (PHILIPPINES) INC. LTI, Biñan City, Laguna

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. YUTO NAKAYOSHI Japanese

Treasurer Keep full and accurate accounts of receipts and disbursements in the books of the corporation.

Php420,000.00Php450,000.00/month

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. CHAOMING LI Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. JIANXI LIN Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. HONGSHENG HUANG Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. HAIYANG LIU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Mr. JIONGLIN HOU Chinese

Mandarin Customer Service Manage incoming calls and customer service inquiries.

Php20,000.00Php50,000.00/month

Name and Address of Employer: CHANNEL LINE CORPORATION PTC-SEZ, Brgy. Maduya, Carmona, Cavite Name and Citizenship of Foreign National

Position and Job Description

Vice President Control the purchase and production planning department.

Mr. JEONG HWAN NOH Korean

Salary Range

Php320,000.00Php350,000.00/annum

Name and Address of Employer: HONDA PARTS MANUFACTURING CORPORATION LTI, Biñan City, Laguna

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. EIJI TANAKA Japanese

Deparment Head - Production 1 Set the department’s target and provide direction and support to achieve set goal.

Php4,260,000.00Php4,300.000.00/ annum

Name and Address of Employer: BROTHER INDUSTRIES (PHILIPPINES), INC. FPIP, Brgy. Ulango, Tanauan City, Batangas Name and Citizenship of Foreign National

Mr. MUNETOSHI KUMAGAI Japanese

Position and Job Description

General Manager (Administration Department) Assess and select employees for management position in the administration department.

Salary Range

Php160,000.00Php200,000.00/month

Name and Address of Employer: SMART WIN TECHNOLOGY, INC. San Francisco (Halang), Biñan City, Laguna 2.

Mr. ISAO ADO Japanese

Assistant Manager (Quality Management Department) Support for implementation of Brother group’s quality assurance standards.

Name and Address of Employer: JAE PHILIPPINES, INC. SEPZ, GBP, Javalera, General Trias, Cavite

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. LIAN CHEN Chinese

Chinese Customer Service Representative Field incoming help requests from end users via telephone and work orders in a courteous manner.

Php20,000.00Php50,000.00/ month

Mr. XIAODONG LIU Chinese

Chinese Customer Service Representative Field incoming help requests from end users via telephone and work orders in a courteous manner.

Php20,000.00Php50,000.00/ month

Mr. XIAOHUI WU Chinese

Chinese Customer Service Representative Field incoming help requests from end users via telephone and work orders in a courteous manner.

Php20,000.00Php50,000.00/ month

Mr. XIAOWEN CHEN Chinese

Chinese Customer Service Representative Field incoming help requests from end users via telephone and work orders in a courteous manner.

Php20,000.00Php50,000.00/ month

Mr. YUSHUN FU Chinese

Chinese Customer Service Representative Field incoming help requests from end users via telephone and work orders in a courteous manner.

Php20,000.00Php50,000.00/ month

Php160,000.00Php200,000.00/month

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Mr. JUN SASAKI Japanese

Assistant General Manager for Parts Production Department Direct and control technical and production aspects of product manufacturing processes/ procedures for production-engineering-stamping and machine shop.

Php2,660,000.00Php2,700,000.00/ annum

Name and Address of Employer: RELIANCE PRODUCERS COOPERATIVE (RPC) GMBP, Maduya, Carmona, Cavite

Name and Citizenship of Foreign National

Position and Job Description

Salary Range

Ms. NENGSHU LUO Chinese

Technical Consultant – Sample Review, understand and interpret sample technical instructions and specifications as it relates to over-all fit and appearance that the customer wants per style.

USD9550.00USD9600.00/annum

Name and Address of Employer: IBIDEN PHILIPPINES, INC. FPIP, Sta. Anastacia, Santo Tomas, Batangas Name and Citizenship of Foreign National

Mr. SHIGEHISA SAKAI Japanese

Position and Job Description

Manufacturing EOL Assistant Manager Manage end of line production process in terms of production output, quality, machine trouble, etc.

Mr. KOTA IGARASHI Japanese

Production Planning and Control (PPIC) Assistant Manager Control and maximize IPI production capacity of generational change.

Mr. HISAFUMI KOJIMA Japanese

Manufacturing Fol Assistant Manager Manage front of line process production, in terms of production output, quality and machine trouble.

Name and Address of Employer: GOTOH PHILIPPINES CORPORATION CIP 1, Canlubang, Calamba City, Laguna

Salary Range

Php420,000.00Php450,000.00/ annum

Php360,000.00Php400,000.00/ annum

Php420,000.00Php450,000.00/ annum

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at the DOLE Regional Office within 30 days from the date of publication. Please inform the DOLE Regional Office if you have an information of any criminal offense committed by the foreign nationals.

To avail of free job referral, placement, and employment guidance services, visit the nearest Public Employment Service Offices (PESO) or log on at http://www.philjobnet.gov.ph

News

BusinessMirror

A6 Monday, August 2, 2021

www.businessmirror.com.ph

Amid ECQ, Senate on overtime for vital bills By Butch Fernandez

@butchfBM

VERTIME work and best efforts even in the limited virtual settings are necessary to fast-track passage in the Senate of key pieces of legislation, especially Palace-certified ones, as a result of the twoweek enhanced community quarantine (ECQ)

imposed in the National Capital Region (NCR Plus) from August 6 to 20, Senate President Vicente Sotto III said over the weekend. “The two weeks will have a huge impact on our work,” Sotto acknowledged in an interview with DWIZ at the weekend. He added that “most likely, we will work overtime this week while it is still possible,” referring to the general community quarantine (GCQ) with

heightened restrictions that is good until August 5, or before the ECQ starts running. The overtime work is necessary, he added, “so that we can finish the Public Service Act (PSA). I hope Senator [Koko] Pimentel can meet with the bicameral conference committee on retail trade liberalization (RTL), and then I hope we can also finish, this week, the Foreign Investments Act (FIA)— at least

up to the period of interpellation, and then period of amendments,” Sotto said partly in Filipino. The two weeks of ECQ will “eat up a huge part of our timetable, since we still have pending key bills,” he noted. The amendatory bills for the PSA, FIA and RTL are Palace-certified bills, and were mentioned in President Duterte’s State of the Nation Address (Sona) on July 26 as among those he hoped the Senate could pass. They have been approved on third and final reading in the House of Representatives. “Well, we will see kasi hopefully those three, as well as the bills related to seniors citizens,” Sotto said, of the priority bills’ chances of passing. Meanwhile, he is not worried that 12 reelectionist senators will no longer be able to devote time and attention to priority legislation once October 1 kicks in, or the filing of certificates of candidacy for the May 2022 national elections. “On October 1, that’s just the filing, it does not mean that it’s already the campaign period so we will keep working. Our work only stops during the Christmas break, and we may extend work by one or two days [and cut that break]” in case, he said, the senators really feel it imperative to meet deadlines on more priority measures. “The campaign period does not start till February 6, therefore, we are not allowed to campaign from the time that we filed up to February 6. Trabaho, trabaho lang muna [Work, work, that’s all we’ll be doing],” he assured.

Charter change

ASKED by DWIZ about the Charterchange proposal from the House, Sotto

said he committed to Speaker Lord Allan Velasco that they will still tackle the proposed Joint Resolution of Both Houses despite the initial sentiment among senators not to approve it. “What I can promise is that we can take it up. We will take it up. I cannot promise the opinion of my colleagues so, I have promised Speaker Velasco we will take it up. And our discussion is that, according to him at least by January or before the break, February 6, since it’s a Joint Resolution, it’s not a bill. So therefore, if we approve it what happens is that the question will be included in the plebiscite.” Earlier, Minority Leader Franklin Drilon declared that the House’s Charter-change proposal is “dead on arrival” in the Senate, where majority of senators believe that passage of the three economic reform bills —the FIA, PSA and RTL—would meet the purported need for Charter change in order to liberalize the economy and make it globally competitive. Meanwhile, Sotto explained they are finalizing plan to mobilize Senate workers this week and during the two-week ECQ, given the risks to their workers of exposure to the Delta variant. “We will play it by ear if we can go virtual or not,” the Senate leader told DWIZ. “If not, we have to suspend during the time of the ECQ because we are not worried about ourselves, we are worried about the employees of the Senate. Even in virtual sessions or hearings, certain employees must be physically present at the Senate building in Pasay City, but Sotto said even if most are vaccinated, the commuting will expose them to the Delta variant, hence, the careful study of their mobilization.

House panel to rush bill on mandatory Covid jabs By Jovee Marie N. dela Cruz @joveemarie

MID the rising number of Delta variant cases in the country, the House Committee on Health will begin hearing a bill seeking to impose mandatory vaccination against Covid-19. Cavite Rep. Elpidio Barzaga Jr. said the House Committee on Health, chaired by Quezon Rep. Angelina Tan, will open hearings on his House Bill 9252 either this month or early next month to expedite its passage. Barzaga said discussions on the measure are urgent as Metro Manila will be placed under a lockdown again from August 6 to 20 to curb the spread of the virus’ highly transmissible Delta variant. He admitted that the lack of Covid doses now will pose a challenge to the passage of his bill, since it will appear that Congress is pushing for compulsory vaccination when the vaccine supply is insufficient. “However, once the vaccine supply in the country is sufficient, perhaps that’ll be the time that the law will be effective and provide for mandatory vaccination,” Barzaga said. House Bill No. 9252 seeks to amend Republic Act No. 11525 or “An Act Establishing the Coronavirus Disease 2019 (Covid-19) Vaccination Program Expediting the Vaccine

Procurement and Administration Process, Providing Funds Therefor, And For Other Purposes” by making it mandatory for persons eligible to get the Covid-19 vaccination, as determined by the Department of Health, to get the jabs. While admitting that it will be more difficult to have the measure approved now as the election fever starts to set in, Barzaga is hopeful the bill will be enacted before the end of the 18th Congress next year. “It’s not easy to enact a law unless it has been certified as urgent by the President,” he said. The senior lawmaker, who chairs the House Committee on Natural Resources, said his bill has to be enacted because the country will need a “drastic” measure to counter vaccine hesitancy which is the stumbling block to the government’s pandemic response efforts. Under the bill, “no persons who are covered by this Act, as determined by the DOH, shall be allowed to enter, convene or occupy public places, whether or not government or privately owned.” Persons whose medical conditions, as determined by the DOH or by a licensed medical doctor, make it dangerous for them to be inoculated shall be exempted from the inoculation of Covid-19 vaccine, the bill said.

Virology center gets P283M in ’22 NEP

S one of the priority measures of the Duterte administration, the establishment of the Virology Institute of the Philippines (VIP) has firm funding priority—P283 million—in the 2022 National Expenditure Program (NEP), according to the chairman of the House Committee on Health. Quezon Rep. Angelina “Helen” Tan, sponsor and principal author of the bill, said the two chambers of Congress are expected to fast-track the bill creating the VIP, as requested by President Duterte in his State of the Nation Address (SONA). Tan said the House of Representatives approved on third and final reading last week House Bill 9559 seeking to establish a virology research institute in the Philippines as the premier research and development institution in the field of virology. Tan said that establishment of the Virology Science and Technology Institute of the Philippines seeks to focus on key

development areas for virology science and technology applications in plants, animals, and humans. She stressed that VIP shall facilitate the country’s preparation against a pandemic or public health emergencies. The VIP shall serve as the premier research and development institute and establish strategic partnerships with the world’s leading scientists, virology centers, and institutes, and conduct innovative and pioneering researches that will advance the frontiers of virology in the country. “The VIP shall implement policies, plans, programs, and projects for the development of virology science and technology in the country and the promotion of scientific and technological activities for both the public and private sectors,” Tan said. It shall ensure that the results of these activities are properly applied towards selfreliance and utilized to accelerate economic and social development towards the protection of the citizens and its resources,” Tan added. Jovee Marie N. Dela Cruz

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, August 2, 2021 A7

By Jasper Emmanuel Y. Arcalas @jearcalas

HE Philippine Maize Federation Inc. (PhilMaize) is opposing the government’s plan to amend the tariff structure for corn imports, saying this would spell the death of the local corn sector. PhilMaize also demanded the inclusion of corn farmers in the technical working group (TWG) created by the Department of Agriculture (DA) which will study the proposed measure. PhilMaize President Roger V. Navarro said his group “vehemently opposes” any proposal to introduce changes in the tariff structure for yellow corn imports as this is akin to “a death sentence.” “In the last two years after [the rice trade liberalization law] took effect, corn production soared to the point that corn drives agriculture’s total growth and this made the DA proud,” Navarro told the BusinessMirror via phone interview. “However, the high production did not translate to

[higher] income for corn farmers.” He also said his group was taken aback by creation of the TWG last week and the fact that corn farmers were excluded from it. “We’ve been backstabbed. As early as now there should be a farmerrepresentative in that TWG, since we are the ones that will be affected and not the officials who are whitecollar workers.” Agriculture Secretary William D. Dar issued Special Order 540 that created the TWG to amend the tariff structure for yellow corn. It is chaired by Agriculture Undersecretary Ariel T. Cayanan. Its members include consultants and representatives from various government agencies. In his SO, Dar said it is “imperative to ensure the steady and cheaper” supply of corn to enable the livestock, poultry and fisheries industries to become competitive. He noted that animal feeds constitute approximately 60 to 70 percent of farms’ total operating production costs. “During the DA Management

BUSINESSMIRROR FILE PHOTO

PhilMaize rejects plan to slash tariffs on corn

Committee meeting held on 21 July 2021, it was noted that this goal can be achieved through twin efforts of increasing productivity while lowering tariffs of imported

yellow corn from non-Asean countries,” the SO read. “These are essentially important measures given the yearly shortfall of yellow corn for animal feeds.

However, on the reduction of tariffs to proceed without creating serious adjustment problems to our corn farmers, the government needs productivity-enhancing measures and

also safety net measures,” it added. Dar instructed the TWG to review the recommendation of Dr. Karlo Adriano to reduce the tariff on yellow corn imports from non-Asean countries. The TWG must also “identify programs and projects that will dramatically improve the productivity of corn and prioritize the areas where the programs and projects are to be implemented,” according to the SO. The TWG should “determine the budgetary requirement to successfully implement the programs and projects on increasing the productivity of corn.” “[The TWG must] identify social protection measures which can be delivered immediately to the corn tillers to mitigate the adjustment problems to be experienced once the tariff reform is pursued,” the SO read. The TWG must submit its report three months after the issuance of the SO or on October 29 and must prepare a presentation material to the Cabinet-level inter-agency Economic Development Cluster.

‘Systemic issues prevent PHL from further expanding agri output’ Private sector sells imported

HILIPPINE farm production is poised for a turnaround this year, but achieving the 2-percent annual growth will remain “very elusive” due to systemic challenges, according to the Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA). SEARCA said it sees a “high probability of maintaining positive growth over the rest of the year” based on the agriculture sector’s performance in the first half. The country’s farm output in the first quarter declined by 3.3 percent while full year production in 2020 contracted by 1.2 percent due to the lackluster performance of the livestock and poultry subsectors. “Since the onset of the Covid-19 pandemic, we have noted with keen interest how the agriculture sector has managed to achieve a positive growth rate,” SEARCA said in a statement. “However, the challenge of surpassing a 2-percent growth rate of the volume of agriculture production may possibly remain very elusive given the number of systemic challenges besetting the agriculture of the country.” The Department of Agriculture (DA) is targeting to grow farm output by 2.5 percent this year. SEARCA said long-term institutional reforms would transform the agriculture sector into a “dynamic and highly productive” one.

“Overall, what remains is the need to accelerate the transformation of the sector into a dynamic and highly productive sector through long-term institutional and programmatic innovative interventions to make the agricultural food system responsive to food security and poverty reduction targets.” SEARCA lauded the government’s agricultural interventions and programs amid the economic implications of the Covid-19 pandemic and persistence of natural hazards like typhoons. “Looking into the macro-level indicators, it is clear that the Philippine government performed fairly well given the peculiar challenges brought about by the pandemic and natural hazards,” it said. “The positive growth of the sector during the past years is surely a noteworthy achievement. Productivity indicators could have significantly plunged if no necessary and immediate interventions in response to the pandemic were put in place.” Nonetheless, SE A RC A said the “long years of concern on the need to increase the Gross Value Added (GVA) of the agriculture sector and the country’s overall development remains.” “While we celebrate the success of the Philippine government in implementing programs and projects to help boost the agriculture sector of

the country, what we need is a more science-based and forward-looking structure, institutional, and operational reforms in the agriculture sector that must be sustained across different administrations.” “In the second half of 2021, what is crucial are sustained mechanisms to reinforce a number of its institutional and policy reforms.” SEARCA said the government must implement “systemic, longterm” interventions to make livestock and poultry production sustainable in light of the pandemic and the threats of zoonotic diseases. These interventions include better surveillance systems, integrated biosecurity measures, and technologybased operation systems. “Comprehensive evaluation using the One Health/EcoHealth framework is needed to operationalize how the livestock and poultry sector could achieve its triple bottom line of profit, people, and planet,” it said. “Consumers are likewise enjoined to be more aware and supportive of livestock and poultry products that conform to higher quality standards.” SEARCA said the fishery sector is showing “promise” due to its improved performance but a “more integrated infrastructure support is needed,” such as better logistics and transport system, to maximize its potential and make the industry competitive. “For years, the Philippines would

benefit from sustained investments on an integrated infrastructure system that lowers production and transportation costs across the different supply chains related to the fisheries management areas in the country,” it said. “Of urgent concern is the need to enjoin the private sector’s investment in cold storage facilities where various technological adaptations may be applied given that various designs have been made by more advanced countries on this aspect. This is a priority given that the fishing communities remain to be among the impoverished sectors in the country.” The government must also improve the country’s climatic and weather data system as well as develop stress-tolerant crop varieties and promote good agricultural practices to improve farm yield amid climate change threat, according to SEARCA. “Given the significant impact of typhoons and floods to the crop sector as experienced in 2020 or even in the years prior, agricultural farming systems must be resilient,” it said. “This clearly requires an increased percentage of Filipino farmers having internalized a decision-support system that would make them more agile and effective in responding to natural hazards and other potential external disruptions like the Covid-19 pandemic.” Jasper Emmanuel Y. Arcalas

pork via govt program

HE government has implemented various marketing efforts that will allow consumers to gain access to cheaper imported frozen pork in its bid to reduce prevailing pork prices which remain above P300 per kilogram. The Department of Trade and Industry (DTI), the Department of Agriculture (DA) and the private sector relaunched the “Presyong Risonable Dapat” (PRD) program which seeks to sell affordable food products to Metro Manila consumers. This time, the PRD, which was conceptualized in 2018 to sell cheaper rice and sugar, will focus on selling frozen imported pork that is P50 to P100 per kg lower than prevailing market prices. The PRD Frozen Meat Edition program was relaunched last July 29 at the Robinsons Supermarket Galleria with Robinsons Supermarket becoming the first partner of the program. Under the program, consumers can buy frozen pork belly/liempo at P250 per kg, porkchop at P220 per kg, kasim/pigue at P220 per kg and ground pork at P200 per kg. Last July 31, the program was brought to Marikina with the government partnering with two meat importers, Atkins Import and Export Resources Inc. and the MyOwn Group of Companies, to establish a

weekend pop-up store. “We are working with our partners so we can offer products at lower prices, particularly meat, especially since we are grappling with African swine fever [ASF],” Agriculture Secretary William D. Dar said in a mix of English and Filipino. He also said the “importation and sale” of frozen pork meat is just a “temporary” measure to augment the country’s pork supply, which has been crippled by ASF. MyOwn Managing Director Jesus C. Cham, who is also the president of the Meat Importers and Traders Association (MITA), said the two companies easily sold around 2 metric tons to 3 metric tons of pork products at the Saturday pop-up store. “Some members of MITA are supporting the activity by going to the communities and setting up pop-up stores every weekend to offer pork and chicken at target prices,” Cham told the BusinessMirror. Trade Secretary Ramon M. Lopez said the relaunch of the PRD Program will regain consumer confidence, which will “create demand and provide employment to Filipinos as the country’s economy recovers.” “We shall be doing the PRD with other supermarket chains to widen the reach of these products.” Jasper Emmanuel Y. Arcalas

From miners to big oil, the great commodity cash machine is back

UST over five years ago Anglo American Plc was in deep trouble. The natural resources giant, beset by a collapse in commodity prices, scrapped its dividend and announced plans to close mines and cut thousands of workers. Amid talk of an emergency capital raise, its market value fell to less than $3 billion. This week, the trials of 2016 probably seemed like a parallel universe to its Chief Executive Officer Mark Cutifani. Fueled by a rally in iron ore and other commodity prices, he announced record first-half earnings and billions in dividends. Anyone who took a punt on Anglo’s shares when they reached their nadir, would have seen a 14-fold increase as the market capititalization soared to $55 billion.

“High commodity prices have been very important to us,” Cutifani told investors earlier this week. “We don’t think this is as good as it gets.” Anglo American is one of many: with raw materials prices surging, the whole natural resources sector is showering shareholders with special dividends and buybacks as miners, oil drillers, trading houses, steelmakers and farmers reap billions in windfall profits. The sector, marked down by investors because of its contribution to climate change and a reputation of squandering money on mega-projects, is again a great cash-machine. The economic rebound from last year’s Covid slump has powered an explosive rally in commodity prices as consumers forgo vacations and

dining out and spend their money loading up on physical goods instead: everything from patio heaters to start-of-the art TVs. Politicians are helping, too, lavishing hundreds of billions on resource-heavy infrastructure projects. The Bloomberg Commodity Spot Index, a basket of nearly two dozen raw materials, surged to a 10-year high this week and is rapidly closing in on the record set in 2011. Brent crude, the global oil benchmark, has again surged above $75 a barrel, copper is headed back toward $10,000 a ton, European natural gas is at its highest ever for the summer season, and steel is changing hands at unprecedented levels. Agricultural commodities such as corn, soybeans and wheat are also expensive.

“Demand continues to improve with increasing global vaccinations,” Joe Gorder, the chief executive of Valero Energy Corp., one of the world’s largest oil refiners, said earlier this week. Even commodities long left for dead, like thermal coal, are enjoying a new life in 2021. Coal, burned in power stations to produce electricity, together with huge volumes of carbon emissions, is trading at a 10-year high. While commodities prices are the main reason behind the turnaround, there are structural factors at play as well. Miners and oil companies have cut spending in new projects savagely, creating a supply shortfall. The miners were first, as they curbed investment from 2015-

16 as investors demanded more discipline; oil companies followed up last year and some major energy companies this week announced further cuts in spending for 2021. The result is that while demand is surging, supply isn’t—at least for now. The oil majors are benefiting too from the work of the OPEC+ alliance of oil producers, which is still holding back a large share of output. Anglo American, which announced $4 billion in dividends, is probably the most remarkable turnaround story in the natural resources sector, but its profits were still dwarfed by its bigger rivals. Rio Tinto Group and Vale SA, the world’s two leading iron ore miners, together vowed to hand

back more than $17 billion in dividends last week. There’s still more to come for investors, with both BHP Group, the world’s biggest miner, and Glencore Plc, another big miner and commodity trader, yet to report. And for once, the world’s biggest steelmakers were not only able to absorb the costs, but pass them on. An industry that has spent much of the last decade in crisis is now also able to reward long suffering shareholders. The world’s largest steel maker outside China, ArcelorMittal SA, that was forced to sell shares and scrap its dividend just five years ago, posted its best results since 2008 this week and announced a $2.2 billion share buyback program. Bloomberg News

Duterte OKs placing Apayao, Laguna, Aklan under MECQ. . . Meanwhile, Roque also announced that Cebu Province will now be placed under GCQ with heightened restrictions, a looser form of lockdown compared to its previous classification under

MECQ. The new classification will take effect until August 15. Apart from this, Malacañang said the IATF approved the shortening of detection to isolation/quarantine interval to

less than five days. Also approved by the IATF are prioritizing facility-based isolation and quarantine to prevent household transmission and preparing accessible health

care capacities and systems for case spikes. It also agreed to ramp up vaccination among Priority Groups A2 and A3 populations with parallel efforts of

vaccinating the A4 population, if resources are adequate. Strict enforcement of border control protocols at all ports of entry, continuous assessment of the Covid-19 situation at all levels;

continued from a2

and dissemination of information on the variants of concern and expected actions to be undertaken by individuals, establishments and implementers were also approved by the IATF. Bernadette D. Nicolas

The World BusinessMirror

Monday, August 2, 2021

Ediror: Angel R. Calso

prime minister postpones Florida breaks record with more Malaysian Parliament, avoids no-confidence vote than 21,000 new Covid-19 cases K

RLANDO, Florida—Florida reported 21,683 new cases of Covid-19, the state’s highest one-day total since the start of the pandemic, according to federal health data released on Saturday, as its theme park resorts again started asking visitors to wear masks indoors.

The state has become the new national epicenter for the virus, accounting for around a fifth of all new cases in the US as the highly contagious Delta variant of the coronavirus continues to spread. Republican Florida Gov. Ron DeSantis has resisted mandatory mask mandates and vaccine requirements, and along with the state Legislature, has limited local officials’ ability to impose restrictions meant to stop the spread of Covid-19. DeSantis on Friday barred school districts from requiring students to wear masks when classes resume next month. The latest numbers were recorded on Friday and released on Saturday on the US Centers for Disease Control and Prevention’s website. The figures show

how quickly the number of cases is rising in the Sunshine State: only a day earlier, Florida reported 17,093 new daily cases. The previous peak in Florida had been 19,334 cases reported on Jan. 7, before the availability of vaccinations became widespread. The state reported 409 deaths this week, bringing the total to more than 39,000 since its first in March 2020. The state’s peak happened in mid-August 2020, when 1,266 people died over a sevenday period. Deaths usually follow increases in hospitalizations by a few weeks. DeSantis has blamed the surge on a seasonal increase—more Floridians are indoors because of the hot weather with air conditioning circulating the virus. About 60%

of Floridians 12 and older are vaccinated, ranking it about midway among the states. The Florida Hospital Association said Friday that statewide Covid-19 hospitalizations are nearing last year’s peak, and one of the state’s largest health care systems, AdventHealth’s Central Florida Division, this week advised it would no longer be conducting nonemergency surgeries in order to free up resources for Covid-19 patients. Universal Orlando Resort and SeaWorld on Saturday became the latest theme park resorts in Florida to again ask visitors to wear masks indoors, with Universal also ordering its employees to wear face coverings to protect against Covid-19, which has been surging across the state. All workers at Universal’s Florida park on Saturday started being required to wear masks while indoors as the employees returned to practicing social distancing. The home to Harry Potter and Despicable Me rides also asked visitors to follow federal and local health guidelines by voluntarily wearing face coverings indoors. “The health and safety of our guests and team members is always our top priority,” Universal said in a statement. Health officials on Friday an-

nounced that coronavirus cases in Florida had jumped 50% over the past week with Covid-19 hospitalizations in the state nearing last year’s peak. SeaWorld on Saturday posted on its website that it was recommending that visitors follow recently updated federal recommendations and wear face coverings while indoors. The change in policy this week at the theme park resorts came after the US Centers for Disease Control and Prevention recommended that everyone wear masks indoors, regardless of vaccination status. Crosstown rival Walt Disney World started requiring employees and guests older than 2 to wear masks on Friday, but it also went a step further. The Walt Disney Co. said in a statement that it will be requiring all salaried and nonunion hourly employees in the US who work on site to be fully vaccinated. Disney employees who aren’t already vaccinated will have 60 days to do so and those still working from home will need to show proof of vaccination before returning. Disney said it was discussing the vaccine requirements with the union, and added that all new hires will be required to be fully vaccinated before starting work at the company. AP

French police clash with anti-virus pass protesters in Paris

ARIS—Thousands of people protested France’s special virus pass with marches through Paris and other French cities on Saturday. Most demonstrations were peaceful, but sporadic clashes with riot police marked protests in the French capital. Some 3,000 security forces deployed around Paris for a third weekend of protests against the pass that will be needed soon to enter restaurants and other places. Police took up posts along the Champs-Elysees to guard against an invasion of the famed avenue. With virus infections spiking and hospitalizations rising, French lawmakers have passed a bill requiring the pass in most places as of Aug. 9. Polls show a majority of French support the pass, but some are adamantly opposed. The pass requires a vaccination or a quick negative test or proof of a recent recovery from Covid-19 and mandates vaccine shots for all health care workers by mid-September. Across the Alps, thousands of anti-vaccine pass demonstrators marched in Italian cities including Rome, Milan and Naples for the second consecutive week. Milan demonstrators stopped outside the city’s courthouse chanting “Truth! “Shame!” and “Liberty!” while in Rome they marched behind a banner reading “Resistance.” Those demonstrations were noisy but peaceful. For anti-vaccine pass demonstrators in France, “Iiberty” was the slogan of the day. The marches

Protestors march waving French flags during a demonstration in Paris, France on Saturday, July 31, 2021. Demonstrators gathered in several cities in France on Saturday to protest against the Covid-19 pass, which grants vaccinated individuals greater ease of access to venues. AP Photo/Adrienne Surprenant

drew some 204,000 people around the country. Some 14,250 people hostile to the pass protested in Paris, several thousand more than a week ago. Hager Ameur, a 37-year-old nurse, said she resigned from her job, accusing the government of using a form of “blackmail.” “I think that we mustn’t be told what to do,” she told The Associated Press, adding that French medical workers during the first wave of Covid-19 were quite mistreated. “And now, suddenly we are told that if we don’t get vaccinated it is our fault that people are contaminated. I think it is sickening.” Tensions flared in front of the famed Moulin Rouge nightclub

in northern Paris during what appeared to be the largest demonstration. Lines of police faced down protesters in up-close confrontations during the march. Police used their fists on several occasions. As marchers headed eastward and some pelted police with objects, police fired tear gas into the crowds, plumes of smoke filling the sky. A male protester was seen with a bleeding head and a police officer was carried away by colleagues. Three officers were injured, the French press quoted police as saying. Police, again responding to rowdy crowds, also turned a water cannon on protesters as the march ended at the Bastille.

A calmer march was led by the former top lieutenant of far-right leader Marine Le Pen who left to form his own small anti-EU party. But Florian Philippot’s new cause, against the virus pass, seems far more popular. His contingent of hundreds marched Saturday to the Health Ministry. Among those not present this week was Francois Asselineau, leader of another tiny anti-EU party, the Popular Republican Union, and an ardent campaigner against the health pass, who came down with Covid-19. In a video on his party’s website, Asselineau, who was not hospitalized, called on people to denounce the “absurd, unjust and totally liberty-killing” health pass. French authorities are implementing the health pass because the highly contagious Delta variant is making strong inroads. More than 24,000 new daily cases were confirmed Friday night—compared to just a few thousand cases a day at the start of the month. The government announcement that the health pass would take effect on Aug. 9 has driven many unvaccinated French to sign up for inoculations so their social lives won’t get shut down during the summer holiday season. Vaccinations are now available at a wide variety of places, including some beaches. More than 52% of the French population has been vaccinated. About 112,000 people have died of the virus in France since the start of the pandemic. AP

UALA LUMPUR, Malaysia—Malaysia’s embattled prime minister postponed a critical parliamentary session set for Monday, citing Covid-19 infections and allowing him to avoid a no-confidence vote amid growing calls for him to resign. A circular sent to lawmakers Saturday said the session will be held at a later date, after the Health Ministry deemed Parliament a high-risk venue. Eleven cases were detected Thursday among staff and others. Malaysia’s political crisis deepened when the king rebuked the government for misleading Parliament on the status of ordinances it issued during the coronavirus state of emergency. The opposition, which has filed a motion of no-confidence against Prime Minister Muhyiddin Yassin, slammed the postponement as an excuse for him to stay in office. “Many parties feel it’s not because of Covid-19. This political crisis must be resolved immediately. This constitutional crisis must be addressed,” tweeted Ahmad Maslan, a lawmaker in the biggest party in Muhyiddin’s alliance that has backed calls for the premier to quit. There was no immediate comment from Muhyiddin’s office. This was not the first time Muhyiddin has suspended Parliament due to the v ir us. Parliament has been shut down for several months just after he took office in March 2020, and since January this year, after the king approved his plan for an emergency to tackle

the pandemic. The state of emergency allowed him to rule by ordinance without legislative approval until Aug. 1, at a time when his razor-thin majority in Parliament is in jeopardy. Public anger against Muhyiddin has built up as cases jumped eightfold since Januar y. New daily infections breached 10,000 on July 13 for the first time and have stayed there since, despite a virus emergency in January and a lockdown since June 1. Total deaths have risen to nearly 9,000. Nearly 20% of the population has been fully vaccinated. Hundreds of black-clad Malaysian youth earlier Saturday rallied in central Kuala Lumpur to demand Muhyiddin’s resignation and early resumption of regular Parliament sessions. Some carried mock corpses wrapped in white cloth to depict the growing virus death toll. Parliament reopened Monday for the first time this year after Muhyiddin caved to pressure from the king, but the five-day special sitting was only to brief lawmakers on the pandemic and debates were banned. King Sultan Abdullah Sultan Abdullah said on Thursday he did not give his consent to annul emergency ordinances but told the government to debate them in Parliament—which may lead to a vote that could test Muhyiddin’s majority. Muhyiddin said that the king has to act on the Cabinet’s advice and insisted his administration didn’t violate the constitution. AP

Sydney reports record cases as Brisbane infections rise

ydney reported a recordmatching number of new local cases of Covid-19, while infections also rose in the state of Queensland, a day after its most-populous region went into lockdown. There were 239 cases in Sydney in the 24 hours to 8 p.m. Saturday, equal to the tally set three days earlier and the most since the Delta variant of the coronavirus began sweeping though nation’s largest city in June. New South Wales state Premier Gladys Berejiklian said there were some signs that the virus is mostly being contained to parts of Sydney’s southwest, where the strictest curbs are in place. While most residents have followed lockdown rules, frustrations have boiled over on several occasions. More than 1,300 police officers were deployed in Sydney on Saturday to deter any anti-lockdown demonstrators after violent protests a week earlier. There were no significant disturbances this weekend. Sydney’s lockdown has been extended three times and there is a risk it won’t be lifted as currently scheduled on Aug. 28, given Delta’s continued spread and Australia’s vaccination program that has lagged many other major economies. Police said unarmed defense forces personnel would be working with them in Sydney to help with food deliveries, welfare door-knocks and compliance

checks for stay-at-home and selfisolation orders. There were nine new locally acquired cases discovered in Queensland, which on Saturday imposed a snap three-day lockdown in parts of its southeast, the state’s chief health officer, Jeannette Young, said at a briefing. A new cluster in Queensland’s capital of Brisbane highlights the country’s vulnerability to fresh outbreaks, with only enough doses administered to cover 23% of the population, according to Bloomberg’s vaccine tracker. Australia’s vaccine program, which has been heavily dependent on doses from AstraZeneca Plc, has suffered from hesitancy among many people concerned about the risk of blood clots. There is now an increasing effort to boost supplies of Pfizer Inc. shots. The federal government is also in talks to secure Covid therapy medicines that can reduce the severity of infections, the Sunday Telegraph reported, without saying where it got the information. Victoria state, the epicenter of previous outbreak in Melbourne, reported four new local cases. In New Zealand, there were no new cases in the community, according to health authorities. The country will begin reopening and avoid snap lockdowns once 70% of the entire adult population has been fully vaccinated, the federal government said on Friday. Bloomberg News

Anti-vax app squares off with Google, Apple over Covid jab misinformation

new social app designed as a community for the unvaccinated is testing Google and Apple Inc.’s policies concerning the spread of misinformation about Covid-19 vaccines. Unjected, started by two women from Hawaii, bills itself as a community for “like-minded people that support medical autonomy and free speech.” The app allows users to make a profile, match and message with other members. It launched in May shortly after the largest online

dating sites, including Match Group’s Tinder and Bumble Inc., introduced perks to encourage users to get vaccinated. Sometimes dubbed the “Tinder for anti-vaxxers,” Unjected has since racked up 18,000 downloads, according to Apptopia, and plenty of jokes on Twitter. Though the platform began as a site for dating and friendships, it recently rolled out a social feed. A routine update to the app triggered a review by Google Play that found it hadn’t sufficiently policed user-

generated content for misinformation. In e-mails to Unjected, Google flagged posts that included claims of vaccines being “experimental mRNA gene modifiers,” “bioweapons” and “nano-technology microchips” used to link people to the 5G network. Google told Unjected on July 16 it had two weeks to remove the posts from its app store or get booted off. “We’ve had to walk a censorship tightrope,” co-founder Shelby Thomson said. Unjected removed the social feed to get back in compliance

on Google Play but Thomson said she plans to restore it, along with the flagged posts, and hopes to “stay under the radar.” Other features on the app that remain active include matches, chat rooms, a community directory of “unvaxxed friendly,” businesses and a database where users can list their blood types. “We’re not trying to be harmful to society,” said Thomson. “We just want to exercise our freedom of choice.” Apple removed the app from its App Store after being contacted by

Bloomberg News. In an e-mail to Unjected, Apple said the app “inappropriately refers to the Covid-19 pandemic in its concept or theme.” Apple requires all apps related to Covid-19 provide credible health and safety information and only come from recognized entities including government organizations, healthfocused non-profits and medical or educational institutions. Apple had originally denied Unjected during the initial review process and approved the app after

it made changes to comply with Covid-19 policies, an Apple spokesperson said. Since then, “the developer has made statements externally to its users as well as updates to the app that once again bring it out of compliance,” Apple said, adding that Unjected encouraged users to avoid using certain words to avoid detection. “This is a violation of our guidelines, which make it clear: ‘If you attempt to cheat the system… your apps will be removed from the store.’” Bloomberg News

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China, India miss UN deadline to update emissions targets

ERLIN—China and India have missed a UN deadline to submit fresh plans for cutting their greenhouse-gas emissions in time for the global body to include their pledges in a report for governments at this year’s global climate summit, officials said Saturday. The world’s two most populous countries are among dozens that failed to provide an update on their targets for curbing the release of planet-warming gases to the UN climate change agency by July 31. China is the country with the world’s highest emissions, while India is third. The United States, which submitted its new target in April, is the second-biggest global emitter.

UN climate chief Patricia Espinosa welcomed that 110 signatories of the United Nations Framework Convention on Climate Change had met the cut-off date, which was extended from the end of 2020 due to the pandemic. But she said it was “far from satisfactory” that only 58% had submitted their new targets in time. Saudi Arabia, South Africa, Syria and 82 other nations also failed to update their nationally

determined contributions (NDCs) in time to include them in a report Espinosa’s office is preparing for the UN climate change conference in November. Espinosa noted that a previous report found countries were doing too little to meet the goal of keeping global warming below 2 degrees Celsius (3.6 Fahrenheit) by the end of the century compared with pre-industrial times, let alone the more ambitious target of capping warming at 1.5 degrees C (2.7 degrees F). “Recent extreme heat waves, droughts and floods across the globe are a dire warning that much more needs to be done, and much more quickly, to change our current pathway,” said Espinosa. “This can only be achieved through more ambitious NDCs.” Under the 2015 Paris climate accord, countries set their own emissions reduction goals but are required to be transparent about them and jointly raise their targets over time to ensure that global

warming remains at agreed acceptable levels. China did announce last year that it aims for its emissions of carbon dioxide—the main greenhouse gas—to peak before 2030, and to achieve carbon neutrality before 2060. The target has yet to be formally included in its submission to the U.N., however, meaning it can’t yet be counted toward the global effort. Earlier this month, the chair of the COP26 climate summit i n Gl a sgow, A lok Sh a r m a of Britain, met with environment ministers from more than 50 countries, including the US and China. Speaking to reporters af ter t he meet ing—t he f irst physica l meeting of its k ind since the start of the pandemic—Shar ma said participants had agreed the 1.5 degrees C goal must stay “within reach.” “Between now and COP26 we must, and I promise you we will, make every single day count,” he said.AP

Hospital bombed in southern Afghanistan as battles rage

ABUL, Afghanistan—The owner of a private hospital in Afghanistan said the Afghan air force bombed the facility on Saturday, killing one person and injuring three others. He said the hospital was targeted because the military erroneously believed Taliban fighters were being treated there. Dr. Mohammad Din Narewal, the owner of the 20-bed Afghan Ariana Specialty Hospital, told The Associated Press that provincial government officials informed him his hospital in Lashkar Gah was targeted based on the information from the defense ministry. “But there were no Taliban in the hospital,” said Narewal. The defense ministry did not immediately respond to multiple attempts by the AP to contact them. “I was told there had been a mistake because they had been given the wrong information that Taliban were inside the hospital,” he said, explaining that the Taliban were in fact receiving treatment in

another hospital in the city. Provincial council chief Attaullah Afghan confirmed that the hospital was struck by the Afghan air force, and that one person was killed. The air strike came as the Taliban made a push for the southwestern city, waging fierce battles with the Afghan National Security and Defense Forces. Residents reported see-saw battles in several neighborhoods. Narewal said doctors had performed two surgeries a day earlier, but as fighting intensified the hospital had reduced their staff to a minimum. Currently two patients are still in the hospital along with several nurses and attendants for the patients. Late on Saturday, Afghan security forces reportedly pushed the Taliban out of the city, with reports of heavy air attacks on their positions. In recent weeks the Taliban have stepped up their pressure on several cities, including Herat in western Afghanistan, where

a United Nations office was attacked as battles raged nearby. One guard was killed and the United Nations is investigating who was responsible for his death. The Taliban onslaught went into high gear following the announcement in mid-April that the last US and NATO forces would withdraw from Afghanistan, ending America’s longest war. The Taliban have overrun dozens of districts and now control roughly half of all 421 districts and district centers in Afghanistan. They also have control of key border crossings with Tajikistan, Iran and Pakistan. Even as the withdrawal of US and NATO troops is all but done, America is providing air support to A fgha n ist a n’s beleag uered ground troops, who have been struggling to hold on to territory. The US has launched air strikes in support of Afghan forces in Herat, and in southern Kandahar province. The withdrawal has put increased burden on Afghanistan’s

air force. “All of the Afghan Air Force’s (AAF) aircraft platforms are overtaxed due to increased requests for close air support, intelligence, s u r ve i l l a nce, re con n a i s s a nce missions,” the US watchdog on American spending in Afghanistan reported this week. The Afghan air force is f lying its aircraft “at least 25% over their recommended scheduledmaintenance intervals,” Special Inspector General for Afghanistan Reconstruction John Sopko said in his report. As a result troops are not getting reinforced and resupplied, as aircraft are being used to aid ground forces overwhelmed in relentless battles with the Taliban. Meanwhile, calls are being issued from Beijing to Washington for both sides in the conflict to sit and negotiate an agreement that would see a reduction in violence and an interim administration that would negotiate an all out cease fire. Until now the prospects for peace seem distant. AP

Justice Department: Russians hacked US federal prosecutors

A S H I N G T O N —T h e Russian hackers behind the massive SolarWinds cyberespionage campaign broke into the e-mail accounts of some of the most prominent federal prosecutors’ offices around the country last year, the Justice Department said. The department said 80% of Microsoft e-mail accounts used by employees in the four US attorney offices in New York were breached. All told, the Justice Department said 27 US attorney offices had at least one employee’s e-mail account compromised during the hacking campaign. The Justice Department said in a statement Friday that it believes the accounts were compromised from May 7 to Dec. 27, 2020. Such a timeframe is notable because the SolarWinds campaign, which infiltrated dozens of private-sector companies and think tanks as well as at least nine US government agencies, was first discovered and publicized in mid-December. The Biden administration in April announced sanctions, including the expulsion of Russian diplomats, in response to the SolarWinds hack and Russian interference in the 2020 US presidential election. Russia has denied

wrongdoing. Jennifer Rodgers, a lecturer at Columbia Law School, said office emails frequently contained all sorts of sensitive information, including case strategy discussions and names of confidential informants, when she was a federal prosecutor in New York. “I don’t remember ever having someone bring me a document instead of e-mailing it to me because of security concerns,” she said, noting exceptions for classified materials. The Administrative Office of US Courts confirmed in January that it was also breached, giving

the SolarWinds hackers another entry point to steal confidential information like trade secrets, espionage targets, whistleblower reports and arrest warrants. The list of affected offices include several large and high-profile ones like those in Los Angeles, Miami, Washington and the Eastern District of Virginia. The Southern and Eastern Districts of New York, where large numbers of staff were hit, handle some of the most prominent prosecutions in the country. “New York is the financial center of the world and those districts

are particularly well known for investigating and prosecuting whitecollar crimes and other cases, including investigating people close to the former president,” said Bruce Green, a professor at Fordham Law School and a former prosecutor in the Southern District. The department said all victims had been notified and it is working to mitigate “operational, security and privacy risks” caused by the hack. The Justice Department said in January that it had no indication that any classified systems were affected. The Justice Department did not provide additional detail about what kind of information was taken and what impact such a hack may have on ongoing cases. Members of Congress have expressed frustration with the Biden administration for not sharing more information about the impact of the SolarWinds campaign. The Associated Press previously reported that SolarWinds hackers had gained access to email accounts belonging to the then-acting Homeland Security Secretary Chad Wolf and members of the department’s cybersecurity staff, whose jobs included hunting threats from foreig n countries. AP

Monday, August 2, 2021

Turkey evacuates panicked tourists by boat from wildfires

An aerial photo shows wildfires in Kacarlar village near the Mediterranean coastal town of Manavgat, Antalya, Turkey on Saturday, July 31, 2021. The death toll from wildfires raging in Turkey’s Mediterranean towns rose to six Saturday after two forest workers were killed, the country’s health minister said. Fires across Turkey since Wednesday burned down forests, encroaching on villages and tourist destinations and forcing people to evacuate. AP Photo

STANBUL—Panicked tourists in Turkey hurried to the seashore to wait for rescue boats Saturday after being told to evacuate some hotels in the Aegean Sea resort of Bodrum due to the dangers posed by nearby wildfires, Turkish media reported. Coast guard units led the operation and authorities asked private boats and yachts to assist in evacuation efforts from the sea as new wildfires erupted. A video showed plumes of smoke and fire enveloping a hill close to the seashore. The death toll from wildfires raging in Turkey’s Mediterranean towns rose to six Saturday after two forest workers were killed, the country’s health minister said. Fires across Turkey since Wednesday have burned down forests and some settlements, encroaching on villages and tourist destinations and forcing people to evacuate. The Russian news agency Sputnik said more than 100 Russian tourists had been evacuated from Bodrum and relocated to new hotels. In one video of the Bodrum fire filmed from the sea, a man helping with the evacuations was stunned at the speed of the fire, saying “this is unbelievable, just unbelievable. How did this fire come (here) this fast in 5 minutes? “ He was not named in the video. The minister of agriculture and forestry, Bekir Pakdemirli, said Saturday that 91 of the 101 fires that broke out amid strong winds and scorching heat have been brought under control. Neighborhoods affected by the fire in five provinces were declared disaster zones. President Recep Tayyip Erdogan visited some affected areas Saturday, inspecting the damage from a helicopter. Speaking from the town of Manavgat, Erdogan announced that the Turkish government would cover the rents for people affected by the fire and rebuild their homes. He said taxes, social security and credit payments would be postponed for those affected and small businesses would be offered credit with zero interest. “We cannot do anything beyond wishing the mercy of God for the lives we have lost but we can replace everything that was burned,” he said. Erdogan said the number of planes fighting the fires had been increased from six to 13, including planes from Ukraine, Russia, Azerbaijan and Iran, and that thousands of Turkish personnel as well as dozens of helicopters and drones were assisting the firefighting efforts.

In a speech from Marmaris on Saturday night, Erdogan said one of the fires there had been started by children and other investigations were ongoing. At least five people have died from the fires in Manavgat and one died in Marmaris. Both towns are Mediterranean tourist destinations. Tourism is an important source of revenue for Turkey, and business owners were hoping that this summer would be much better than last year, when pandemic travel restrictions caused tourism to plummet. Health Minister Fahrettin Koca said 400 people affected by the fires in Manavgat were treated at hospitals and released, while 10 others were still hospitalized for fire injuries. In Marmaris, 159 people were treated at the hospital and one person was still undergoing treatment for burns. In southern Hatay province, flames jumped into populated areas but were later apparently brought under control. Wildfires are common in Turkey’s Mediterranean and Aegean regions during the arid summer months. Meanwhile, a heat wave across southern Europe, fed by hot air from Africa, has led to wildfires across the Mediterranean, including in Italy and Greece. Firefighters on the Italian island of Sicily on Saturday battled dozens of blazes fueled by high temperatures, prompting the region’s governor to request assistance from Rome. Some 150 people trapped in two seaside areas in the city of Catania were evacuated late Friday by sea, where they were picked up by rubber dinghies and transferred to Coast Guard boats. In western Greece, a wildfire that broke out Saturday forced the evacuation of four villages and people on a beach by the Fire Service, the Coast Guard and private boats. The fire was in a mountain forest 30 kilometers (19 miles) east of Patras, Greece’s thirdlargest city, Citizen Protection Minister Michalis Chrysochoidis said late Saturday. Aided by strong winds, the fire raced down the slopes and threatened seaside villages. The Civil Protection Agency sent text messages to the residents of four villages—two in the mountains and two by the sea— to evacuate. Local media said some villagers refused to leave and were trying to fight the fire with garden hoses. Temperatures in Greece and nearby countries in southeast Europe are expected to climb to 42 degrees Celsius (more than 107 Fahrenheit) Monday in many cities and towns. AP

A10 Monday, August 2, 2021 • Editor: Angel R. Calso

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editorial

ECQ: Use it wisely this time

obody likes it. Nobody wants it. Nobody can accurately quantify its effectiveness, but NCR plus is essentially in enhanced community quarantine (ECQ). A long time ago—early 2020—we, meaning the whole world, were told that a minimum number of weeks under lockdown and the Covid virus would go away. That did not happen. Once the lockdowns were lifted, there was a “Second Wave.”

We locked down once again and that was followed by another wave of infections. The logic seems to be that the virus is not being spread when people cannot leave their homes. But as soon as we are “allowed” to live an almost normal life, the spread of the Covid takes off again. A partial explanation is that between lockdowns, the virus mutates and comes back more powerful than before. It does not take someone super-smart enough to be an expert at “a polling, research and consulting firm” to see a pattern and draw a conclusion. At best, the lockdowns are a temporary measure—a band-aid on a bullet wound—to stop the spread of the virus. We can all see that after the ECQ from March 15, 2020 to May 31, 2020, the virus was still with us. Cases started to rise, and we went back into a strong quarantine on August 4, 2020 for 14 days until August 18. Then we endured the 21-day lockdown from January 25, 2021 to February 15, 2021. That still did not work, so on March 29, the IATF-EID reimposed the ECQ in the Greater Manila Area due to a surge—another surge—in Covid-19 cases in the area. This coming Friday we will be under ECQ for another two weeks. Maybe the only long-term solution is lock everyone out of normal living until the virus goes away, or get as many people infected until the virus has no one to make sick. Did the zombies finally die after there were no humans left to eat? Of course, both of those ideas are extreme and extremely ridiculous. But the cycle of lockdown-open-lockdown has got to stop. The National Economic and Development Authority [Neda] estimates that placing Metro Manila under ECQ may cost the economy some P105 billion. Socioeconomic Planning Secretary Karl Kendrick T. Chua told reporters that “this would increase the ranks of the poor by up to 177,000 people and render 444,000 Filipinos jobless.” Thirty-two percent of the total Philippine GDP comes from the National Capital Region, with another 14.5 percent from the Calabarzon. “However, Chua said, the impact would be mitigated by cash assistance that the government will be providing those who will be adversely affected by the lockdown.” And then the government must borrow more money—which drives some ignorant “economists” crazy—to pay for the “cash assistance.” As for the time under ECQ and the cost, “These can be partly reversed if we use the three weeks to accelerate vaccination of everyone in the highrisk areas. This way, the ECQ will be an investment to pave the way for a recovery once we control the Delta spread,” Chua said. Bottom line: get vaccinated. Each of the vaccines is not perfectly effective or perfectly safe. Welcome to the real world. You may even be the one who dies after receiving the Covid vaccine. But the chance of dying from the vaccine is 0.0019 percent. The mortality rate, from getting sick from Covid, is 1.8 percent. Do the math. The following diseases have been or nearly been eliminated from the planet: Polio, Tetanus, Diphtheria, Pertussis (whooping cough), Rubella, Mumps, Chickenpox, and Smallpox. Not one of these diseases was wiped out by “natural herd immunity.” They were all “vaccinated” out of our lives. Since 2005

An honor and a privilege Atty. Jose Ferdinand M. Rojas II

RISING SUN

E could only imagine how challenging it must have been for Noynoy Aquino to grow up in the Aquino household. He was the third child of very prominent parents, and all his siblings are female—he must have tried hard to be man-ofthe-house whenever his father was not around. When Ninoy died, Noynoy heard about his father’s assassination on CNN. Nevertheless, he had to continue taking care of things that needed to be done. There was almost no room to be sentimental. There is no doubt that Ninoy’s parents raised him well; he grew up to be a practical, responsible, dependable person. His mother, the late president of the Republic Cory Aquino, was likewise toughened by the circumstances their family was in. She needed to be strong when her husband, the late Ninoy Aquino, was imprisoned. She had to raise her children well while making sure she put up a brave front to inspire the children and the

Thomas M. Orbos

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ber Cory’s 12th death anniversary on August 1, 2021, and the 40th day after Noynoy Aquino’s death on June 24, 2021, we pay tribute to their sacrifices and leadership, and give our gratitude and respect for everything that they have done for the Filipino people. Today we offer our prayers for their souls’ eternal rest and guidance for our nation and our current leaders. May they, mother and son, attain a blessed union with God. To keep them alive in our hearts

Searching for that Filipino vaccine

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people around her. As the leader of the country, Cory Aquino likewise inspired the whole nation to hope (and fight) for a better future after going through dark years under a dictatorship. Both of them displayed exemplary courage and dignity as leaders of this country. And now as we remem-

To keep them alive in our hearts means that we, as a nation, must value their legacy and the lessons of their leadership. To show our gratitude to presidents Cory and Noynoy means that we, as a nation, must continue to protect their legacy, as well as our freedoms and our rights. Part of our responsibility as a people is to choose leaders that will serve the country with the same sincerity that Cory and Noynoy showed.

accination of the general populace remains to be the key to normalcy. With the Delta variant now on our shores, vaccinating practically the whole country has now become a top priority. No doubt, regardless of what kind of vaccine or from what country the vaccines come from, getting yourself vaccinated is your best defense against the virus.

We are glad that the push for vaccines by the government is in full swing. We can see this effort being promoted by both the national government and the LGUs. The private business community has also been very active in pushing for a vaccinated populace through various means. Recently, presidential adviser for entrepreneurship and businessman Joey Concepcion suggested providing public transport for those vaccinated in an effort to push voluntary vaccinations and achieve at the very least micro herd immunity in Metro Manila and other urban areas. This is a sound idea primarily for two reasons: such vaccine incentives will encourage people to go for the needed jabs; and for the public transport sector reeling from tremendous loss of revenues due to non-operations, they will be given the needed revenue to

help them cope. There are also other schemes done by the private sector to encourage vaccination in order to prevent an epidemic of the non-vaccinated. We have mobile vaccinations going around the communities to bring the vaccine to people’s doorsteps. We are already witnessing some of the restaurants and establishments providing for vaccine discounts on their services. In some cases, unvaccinated individuals are even barred or severely restricted from going inside certain premises. The unfortunate part is that we apparently do not have enough vaccines to go by. Not that we don’t have the money to purchase the jab. And I am not just talking about available government funds. Well-meaning private associations are willing to spend not just for their vaccines but

The question boils down to time. When can we have such a homegrown vaccine ready and available? It is a matter of national interest at this point to have a local vaccine immediately. In the last year of this administration, maybe this can still be done. also for vaccines that can be given away to our less fortunate brothers. But we just do not have enough supply for the simple reason that we are dependent on other countries for this valuable product. With the recent global surge of infections due to the new variant and with findings of the need to add additional dose (booster) to the existing one or two doses of most vaccines, expect that such products will be scarcer than ever. It should then be on our priority list to have our own vaccine program, with vaccines that are locally developed and manufactured. We cannot say that vaccine development is reserved for the first world countries as our neighbors, Indonesia and Vietnam, are developing their own. Recently, the President announced funding support for any local vaccine development. I am sure that we have enough scientific and medical talents that are either here or overseas that will be more than willing to contribute to such efforts. We know of MIT-educated Fr. Nicanor Austriaco,

means that we, as a nation, must value their legacy and the lessons of their leadership. To show our gratitude to presidents Cory and Noynoy means that we, as a nation, must continue to protect their legacy, as well as our freedoms and our rights. Part of our responsibility as a people is to choose leaders that will serve the country with the same sincerity that Cory and Noynoy showed. We continue to enjoy and to cherish the democracy that President Cory helped us attain. President Noynoy undoubtedly strengthened our economy and empowered our people. He aspired to leave the country in a better state than how he found it, and he did. For both presidents, serving the Filipino people was not just their duty or responsibility. It was for them both an honor and a privilege “to have served such a fine people as [the Filipinos],” as president Noynoy said. It is, I believe, also an honor and a privilege to have had such fine leaders. The Filipino people will always be grateful.

a Filipino Dominican priest, who is pursuing the development of a local vaccine. I myself am helping a group of Filipino scientists, together with their counterparts from Israel, who are also looking into formulating a vaccine-like supplement that can be made available and accessible to all Filipinos. There are also other Filipino teams looking into this, with some being egged on by local pharmaceutical firms. Meanwhile, the DOST is pursuing efforts to determine the viability of virgin coconut oil against the virus. If this is proven effective, then we will have the local solution we need with more than enough raw materials to produce and even export such products. The question boils down to time. When can we have such a homegrown vaccine ready and available? It is a matter of national interest at this point to have a local vaccine immediately. In the last year of this administration, maybe this can still be done. If the development of a local vaccine succeeds, this will define the long lasting legacy of this administration, the success of its “Build, Build, Build” program notwithstanding. Hopefully, it will be this Filipino vaccine that can give us a fighting chance to save our populace and our economy. Only then can we cast a hopeful glimpse into our country’s future. The author can be reached via: thomas_orbos@sloan.mit.edu

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Biden’s struggles on Delta overshadow infrastructure victory

Biden surprised Congress on Thursday with a last-minute plea to extend a moratorium on evictions, two days before the ban’s expiration, leaving lawmakers little time to act. Federal authorities also this week recommended that Americans resume wearing masks in indoor public places to curb the Delta variant’s rapid spread—an outbreak telegraphed nearly a month ago when cases began rising in under-vaccinated parts of the South and Midwest. Biden implored vaccine holdouts to get inoculated, even offering them $100 for a shot—and warning federal workers they’d have to wear masks, socially distance and restrict their travel if they refuse. The moves reinforced the impression that the Biden administration was somehow caught off-guard by Delta, after the president had previously won high marks in opinion surveys for his handling of the pandemic. White House spokesman Andrew Bates said “the country has made enormous strides towards defeating the pandemic thanks to a response that is firmly grounded in facts and science, and which adjusts to the historic challenges the coronavirus poses based on data.” The sudden eviction chaos, coupled with the pandemic’s comeback and Biden’s response, overshadowed a major achievement earlier in the week when the president sealed a bipartisan deal in the Senate for a $550 billion public works bill, one of his top priorities. House Democrats hurried Friday to try to assemble votes for a potential extension of the eviction ban, but the effort failed as lobbyists for landlords pressured lawmakers to let the moratorium expire. The chamber is now in recess and won’t return for votes until, possibly, late September.

Trading blame

This is the season for recognition Joel L. Tan-Torres

DEBIT CREDIT

By Jordan Fabian | Bloomberg Opinion

resident Joe Biden is struggling with a surge in coronavirus cases, an impending wave of evictions and a spike in consumer prices that have left the White House looking unprepared and threaten to undermine months of more sure-handed work on the pandemic.

AS the extension foundered, a round of finger-pointing ensued between Democrats at the Capitol and in the White House. “Really, we only learned about this yesterday. Not really enough time to socialize it within our caucus” and build consensus, House Speaker Nancy Pelosi told reporters. “I quite frankly wish he’d asked us sooner” to extend the eviction moratorium, House Rules Committee Chairman Jim McGovern, a Massachusetts Democrat, said Friday. A day earlier, New York Representative Alexandria Ocasio-Cortez, a leading progressive, called the White House’s handling of the moratorium’s expiration “reckless and irresponsible.” A Supreme Court ruling at the end of June had made clear that the moratorium could not be extended beyond July 31 without congressional action. Biden on Friday evening pressured states and cities to speed up disbursal of emergency rental assistance funds. “Every state and local government must get these funds out to ensure we prevent every eviction we can,” he said in a statement. The White House’s deputy press secretary, Karine Jean-Pierre, said Friday that “we’ve been having conversations with Congress for some time” about extending the eviction ban, in defense of Biden’s 11th-hour request. She declined to be more specific. Jean-Pierre said in response to Ocasio-Cortez that “I disagree” and that the administration had been working on implementing a $47 billion rental assistance program. “Just last month we saw $1.5 billion in just one month in rental assistance, which was more than the last

White House officials have monitored the Delta variant for weeks but were surprised by the extent of its spread, according to a senior White House official. That prompted the urgent warning on the eviction ban as well as the US Center for Disease Control and Prevention’s reimposition of a masking recommendation. five months,” she said. “So we have been working really hard in a whole of government approach that we do here at this White House and this administration and we’ll continue to do that.” Biden’s stumbles on Delta and the eviction moratorium echo the White House’s difficulty responding to rising inflation. The phenomenon, virtually a non-issue in American politics for decades, has bedeviled the president’s economic agenda and given Republicans a line of attack for midterm elections next year. White House officials have monitored the Delta variant for weeks but were surprised by the extent of its spread, according to a senior White House official. That prompted the urgent warning on the eviction ban as well as the US Center for Disease Control and Prevention’s reimposition of a masking recommendation and Biden’s speech imploring millions of Americans who have refused to be vaccinated against Covid-19 to get their shots.

‘Kick the can’

The ban on evictions expires on Saturday. “Even though the Biden administration has been well aware of the calendar, it was not until yesterday that the president requested the Congress to act,” Representative Tom Cole, an Oklahoma Republican, said Friday. “Now, we are being asked to take emergency action to kick the can down the road yet again.” Biden’s rushed moves stand in contrast to his actions during the first few months of the administration, when he and his advisers sought to demonstrate steady command of the fight against the pandemic and draw a contrast with former President Donald Trump’s approach. That strategy allowed Biden to claim credit for progress made against the virus, while casting blame for any shortcomings on Trump. But more than six months into his presidency, Americans appear to be pointing the finger at Biden for the continuing crisis—a growing political problem for the president. A Gallup poll released last week showed Biden’s approval rating falling to 50% from 56% in June. His ratings among Democrats and independents were their lowest to date, with less than half of independents saying they approve of his job performance. Bates, the Biden spokesman, said that “due to the President’s economic policies, we’re seeing the highest level of economic growth in nearly 40 years and have experienced unprecedented job creation. This week’s infrastructure deal and the President’s Build Back Better agenda will help perpetuate that growth for the long term, and the American people are behind him on all of these issues.” The CDC’s reissuance of stricter mask guidance this week was a particularly jarring moment for Americans who only recently had shed face coverings. Just six weeks ago, as virus cases rapidly fell, Biden proclaimed a “summer of joy” for Americans whose lives had been shadowed for a year and a half by the pandemic.

Monday, August 2, 2021 A11

he past month continuing to this month of August has been the season of recognition of academic achievements, commencement exercises and graduation ceremonies. Educational institutions all over the country have been holding virtual commencement ceremonies for the batch of 2021 graduates.

In the University of the Philippines (UP) Diliman School of Business (VSB), where I am the Dean, the graduates of the school, together with the rest of the UP graduates, had their viral and virtual graduation last July 25. To the graduates, I extend my congratulations. I also posted my graduation message to the VSB graduates in the college’s Facebook (https://www. facebook.com/vsbcbaofficial). My message to the graduates is quite simple: Now that you have graduated, pursue your future that should address your personal interest as well as the concerns of the various persons and communities that are a part of or close to you. Slightly modifying this message, I am sharing below this relevant reminder to all graduates of batch 2021.

It has been a hectic full academic year of facing the learning and social challenges of the pandemic. But you’ve made it, you’ve done it. You are now claiming your well-earned diploma of completion of your chosen academic program. It is time to celebrate with your family and loved ones for this momentous occasion. It is very nice to be able to declare now that “I am a graduate and alumni of the University of the Philippines.” Cherish all of these. You truly deserve these, after all those years earning your undergraduate or graduate degree, a significant portion of which was during the unparalleled Covid-19 pandemic with the resulting challenging remote learning and disrupted school extra-curricular activities.

Notes on life insurance

By Reynaldo A. de Dios

ow much life insurance should a man own? That depends on what his responsibilities are. People’s needs differ. Family needs differ. Goals, ambitions, desires, and needs—all are likely to be different for an individual and family.

How then can a man tell how much life insurance he should own? The best way is for him to sit down with his family and first figure out what his responsibilities and goals are. What are the specific ambitions, desires, and needs of the family? Among the things that a man may want to consider are protecting his family by covering the immediate expenses in case of his death such as hospital, funeral and taxes, income for his family, education for his children, a home free and clear of any mortgage, and possibly a retirement

income for himself. Once these goals are determined, he would naturally turn to the person best qualified to help him fit the life insurance to these goals—his Life Insurance Agent. Thus, there is no answer to how much life insurance a man should own—it depends entirely on what he needs and what he wants his life insurance to do for him. A common misconception is that a wealthy man with substantial property and assets has no need for the services of life insurance. In a way, there is some truth to this

As you move forward to your journey of the future, please do not hesitate to look back at your beloved alma mater, which has been the core of your learning and development the past years. Your dean, professors, and administrative staff will always be available to connect with you whenever you feel the need for assistance and mentorship. What’s next? Pursuing your future. A future that consists of what your career track will be, whether this will be in the corporate, professional, entrepreneurial, government, or other advocacies or interests. Your future that, I am sure, will include your desire of giving back to the persons who have been significant to what you are now. Your future that will make your alma mater proud with the milestones that you will be achieving. Your future that will have you doing your role in your country’s development and progress. Having been nurtured by your loved ones and school over the past years, you have imbued the spirit of giving back to your benefactors. It is very clear that the completion of your chosen course is just the start of more challenges that you will have to face moving forward. I am quite sure that most,

thinking. However, there are two things that he cannot avoid – death and taxes. When a man dies, a new personality is created—and that is his estate, which will be subject to taxation. A traditional function of life insurance is to provide financial security for survivors in the event of the untimely death of the head of a family, and the proceeds of a life insurance policy are not subject to taxation if the insured has designated his beneficiary as irrevocable. In other words, the proceeds of life insurance can be effectively utilized to settle estate taxes. An individual, more often than not, purchases more than one life insurance during his lifetime. The policyholder should, as much as possible, keep these policies in force by paying the premiums on time and in accordance with the payment sched-

if not all of you, will be up to the challenge. As you move forward to your journey of the future, please do not hesitate to look back at your beloved alma mater, which has been the core of your learning and development the past years. Your dean, professors, and administrative staff will always be available to connect with you whenever you feel the need for assistance and mentorship. Though we will not be engaging anymore as student-teacher, our interaction will move to the next level of alumni of our College and citizens of our community. Our engagement will shift from an inclusive school environment to a setting where we will be collaborating for your personal success, as well as the greater good of our community and country. Congratulations to the Batch 2021 graduates. Onwards to your bright future!

Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. This column accepts articles for publication from the business and academic community. Articles not exceeding 600 words can be e-mailed to jltantorres@up.edu.ph.

ule of quarterly, semi-annually, annually, or up to a certain age. Once a regular life insurance policy has been in force for several years, there are cash values and other options stated in the policy that can be exercised by the policyholder. The circumstances of a man often changes with time, and even if an insured wishes to continue his premium obligations, he may no longer be financially capable of doing so. Finally, an individual should not keep any lapsed policies among his personal important documents. This is to avoid any frustration on the part of his named beneficiaries. In fact, a lapsed policy that cannot be reinstated is a useless document and should be thrown away. The author is a risk management consultant and Editor of Insurance Philippines magazine.

California learns costly pandemic lesson about hospitals

By Don Thompson | Associated Press

ACRAMENTO, California—California spent nearly $200 million to set up, operate and staff alternate care sites that ultimately provided little help when the state’s worst coronavirus surge spiraled out of control last winter, forcing exhausted hospital workers to treat patients in tents and cafeterias. It was a costly way to learn California’s hospital system is far more elastic than was thought at the start of the pandemic. Through desperation and innovation, the system was able to expand enough to accommodate patients even during the dire surge that saw hospitalizations top 20,000 and nearly 700 people die weekly. “Definitely some hospitals, particularly in the Los Angeles area, were at the breaking point, but we did not see that much use of the alternate care sites relative to what was contemplated,” said Janet Coffman, a health policy professor at University of California, San Francisco. “As dire as the situation was in the winter, it could have been even worse.” In the early weeks of the pandemic, Democratic Gov. Gavin Newsom ordered alternate care sites be set up in a former professional basketball arena, two state centers that usually treat people with developmental and intellectual disabilities, and other facilities. It was part of an early plan to add an extra 66,000 hospital beds as California prepared for a projected crushing load of Covid-19 patients, one of many steps taken by the governor as he imposed the nation’s first

statewide lockdown. Ultimately, the state spent $43 million to set up eight sites, $48 million to hire contract employees and $96 million to operate them under a scaled-back plan, according to tallies that The Associated Press requested from the departments of Finance and General Services and the Health and Human Services Agency. The sites treated a combined 3,582 patients, records show, but half were during the first three months of the pandemic when the number of infections was still low and, as it turned out, the traditional hospital system could have handled them on its own. The sites reopened in early December, treating fewer patients during the next three months even though many hospitals were overflowing. The traditional hospital system squeaked through the worst of the pandemic with little overflow into the alternate care sites because the state temporarily eased nurse-topatient staffing ratios—designed to protect the sick and their caretakers—and because of a scramble to bring in temporary outside workers, said Stephanie Roberson, government relations director of the Cali-

fornia Nurses Association. Brian Ferguson, a spokesman for the state Office of Emergency Services, said officials learned that it is better to align the state’s efforts with existing health care facilities than to set up makeshift, standalone hospitals. For instance, two vacant hospitals reopened during a surge last summer, one each in Northern and Southern California, as the most populous state overtook New York for the most cases in the nation. But it didn’t use them again during the winter surge, choosing instead to work more closely with existing hospitals. Similarly, Newsom in early April 2020 announced Sleep Train Arena, the former home of the NBA’s Sacramento Kings, would be turned into a 400-bed hospital. It wound up treating just nine patients over 10 weeks because existing hospitals in the region handled other cases. The state never reopened that main arena when the virus surged again around Thanksgiving but instead treated 232 patients in the much smaller adjacent practice facility. “If you look in hindsight, you could say, ‘Well, we could have used the money that we spent to rent Sleep Train and we could have put it back into the hospital system or we could have put it into procuring PPE [personal protective equipment] or any number of things,’” Roberson said. “But these are lessons learned.” She added: “As we move forward, we have to take a look at all of these

missteps and do better.” Officials learned to be more flexible in opening and shutting the facilities and to “quickly pivot the site to have additional value or purpose” if it wasn’t needed for patients, Ferguson said. For example, the surge centers all shut down by March as the worst infection wave abated. But two were shifted to other pandemic-related duties—one was used for coronavirus testing and the other was used for antibody infusion treatments. Similarly, contracts for traveling medical workers early in the pandemic required that they work at the alternate care sites even if they were not often needed. But the contracts during the winter surge were rewritten so that “in instances where they were no longer needed, you could quickly move them to a hospital” or to other duties like administering vaccinations, Ferguson said. State officials had planned to rely more on the newly formed California Health Corps of medical professionals, particularly after 95,000 people initially answered Newsom’s call for volunteers. But only a fraction actually qualified or signed up. “When the health corps didn’t pan out as was hoped, travelers were the next best alternative,” said Coffman, who studies the health care workforce. “Yes, contract travelers are expensive, but at least you have confidence this is somebody we can count on to take good care of patients, to have the skills that are needed.”

Sports

YULO SEEKS T REDEMPTION IN VAULT

BusinessMirror

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| Monday, August 2, 2021 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

CARLOS YULO is ranked sixth in the men’s vault finals.

By Jun Lomibao

OKYO—Eumir Felix Marcial sent fellow pro Arman Darchinyan of Armenia crashing down to a painful knockout defeat on Sunday, thus advancing to the semifinal round and assuring the country of a third medal in the Tokyo Olympics. It took the 25-year-old Marcial a dominant stance and three telling punches—an elementary 1-2 jabstraight combination and a solid right hook to the left side of the Armenian’s face—to snatch the knockout win two minutes and 11 seconds into the opening round. “I didn’t expect to win this way. For me, it was basic boxing—unleash punches,” said Marcial, who is assured of a bronze, the second medal after women’s featherweight Nesthy Petecio’s guaranteed silver in boxing. “It’s a sort of muscle memory which I developed through long hours of training under my coaches,” added Marcial, referring to Ronald Chavez and Australian consultant Don Abott. Marcial was obviously the dominant boxer right from the opening bell. Darchinyan had both gloves defending his head, but each time Marcial unleashed a textbook 1-2 punch, his head jarred. The punishment came in staccato and lethal manner that rocked the Armenian for a standing 8-count a minute and a half into the fight. The abbreviated fight was Marcial’s second straight in the Games. He beat Algeria’s Younes Nemouchi by referee stopped contest-injury in is first fight in his first Olympics.

Juvic settles for 55th place in Tokyo golf

EUMIR FELIX MARCIAL sends Armenia’s Arman Darchinyan to a jarring loss AP

MARCIAL’S FISTS DO THE TALKING “I measured him first, if he can take my punches and if I can take his. But I knew I had him inside the first minute,” Marcial said. “Part of the plan was to stick my head out, open guard. It worked.” With two medals assured in boxing, the Philippine haul—as of Sunday—would turn out as the best in its Olympic campaign since the 1924 Paris edition. Hidilyn Diaz already won the country’s first ever gold medal in weighlifting’s women’s -55 kgs category and the boxers, plus golfers Yuka Saso and Bianca Pagdanganan, could make this Tokyo edition much better. Petecio will be in the gold-

medal duel on Tuesday against Japanese Sena Irie and Marcial on Thursday in a semifinal showdown with former tormentor Oleksandr Khyzhniak of Ukraine. Carlo Paalam will be going for a medal-round berth in the men’s flyweight division opposite Uzbekistan’s Shakhobidin Zoirov, the world and Olympic champion, on Tuesday. The strategy was for Marcial to test Darchinyan’s power, and when he engages, that’s when the Filipino would sneak in for the counter, before darting away. Marcial, who points to his father as his biggest influence why he took

up the sport, will be taking on a Ukrainian rival that has beaten him in the 2018 Strandja Memorial in Sofia, Bulgaria, but under strange circumstances. “I’m ready for him [Khyzhniak]. He has beaten me before but I’m ready this time,” he said. “I’m in top shape here.” Chavez said Marcial lost to the Ukranian in 2018 in Sofia to save his ward from further injury. “He [Marcial] was nursing a right shoulder injury and I decided during the fight for him not to continue,” Chavez said. “I didn’t want to aggravate his injury.” Association of Boxing Alliances

Knott sets modest goal in 200m

OKYO—Juvic Pagunsan closed out with a one-under par 70 on Sunday to wind up in 55th place in a field of 60 in the men’s competition golf at the Tokyo Olympics. Pagunsan, 43, never got better after opening the event with a 66 at the Kasumigaseki Country Club. He finished with a four-day total of one-over 285, 19 shots behind gold medal winner Xander Shauffele of the US. Shauffele salvaged a par from a difficult position in the rough after a bad drive to clinch the gold medal on a closing 67 for 266, one shot ahead of South Africa’s Rory Sabbatini who closed with a fiery 61. Pagunsan, only the second Filipino male golfer to see action in the Olympics after Miguel Tabuena when the sport made a comeback in Rio de Janeiro four years ago, was tied for fifth after Day One but faded following rounds of 73 and 76. The Bacolod-born pro showed some signs of life when three birdies in a four-hole stretch from the third role got him back to even par. But Pagunsan never bought another birdie from there before closing his Olympic debut with a bogey at the 500-yard par-4 closing hole. On Wednesday, it will be the turn of US Women’s Open champion Yuka Saso and LPGA campaigner Bianca Pagdanganan to go for gold, also in the same layout. Jun Lomibao

Twisting deep RICK OLIVARES | bleachersbrew@gmail.com

BLEACHERS’ BREW WHEN I saw reports about Simone Biles pulling out of gymnastics team competition for the United States of America in this Tokyo Olympics, my first thought was how did that happen? Did she choke? I wondered if it was a cop out by someone who suddenly got cold feet. Someone who quit in the midst of a fight. Like Roberto Duran did against Sugar Ray Leonard in November of 1980. I was in seventh grade then

and as it was a superfight on a Wednesday (Manila time), we were allowed to watch the fight in school. Yes, students were allowed to bring a portable television that where people watched. It was usually reserved for fighters like Rolando Navarrete and Louie Espinosa. That fight between Duran and Leonard was the sequel to their match that the former won. Duran was alleged to have uttered the words “no mas” that means “no more.” He blamed

of the Philippines president Ricky Vargas said the road will be more difficult for Marcial from hereon, but he has been equipped by the association for the big stage. “I was and I remain confident of Marcial’s abilities and chances in this Olympics. Eumir showed excellent form and technique. If he continues to work with his corner and team ABAP, he’s got it,” Vargas said. “A fight at a time as I have no illusions that it will be an easy path, but he has the tools to make it to the top of the podium. I wish him well and pray to God he gives the country another gold along with Nesthy and Carlo [Paalam],” Vargas added.

OKYO—Carlos Yulo returns to the Ariake Gymnastics Center on Monday night for the finals of the men’s vault in artistic gymnastics. His mission? To seek redemption after crashing out of his pet floor exercise in the qualifying round more than a week ago at the Tokyo Olympics. “Hopefully he is more relaxed this time,” Gymastics Association of the Philippines President Cynthia Carrion Norton said on Sunday. “But watching all the great gymnast from all over the world could be intimidating.” Yulo scored 14.733 points to land in sixth place in vault—the top eight participants advanced to the finals—nine days ago in the qualifying where, unfortunately, he landed in 44th place out of 64 competitors in the floor exercise. The 2019 floor exercise world champion also fared poorly in rings (24th), parallel bars (55th), horizontal bar (63rd) and pommel horse (69th). South Korea’s Shin Jeahwan is marching to the finals set at close to 7 p.m. (Tokyo time) as the top qualifier with 14.866 points, followed by Armenia’s Artur Davytan with 14.866 and Russian Olympic Committee top bet Nikita Nagorny with 14.783. Nagorny added the Tokyo Olympics men’s team gold medal to the ROC’s collection earlier last week. Rounding out the eight qualifiers were Brazil’s Caiou Sauza (14.700), Turkey’s Ahmet Onder (14.466), Hongkong’s Shek Wai Hung (14.274) and Spain’s Nicolau Mir (14.133). Carrion Norton said Yulo’s coach Munehiro Kugimiya picked Shin and Onder as favorites in the event, but hinted Yulo could have a shot at a medal. “According to Coach Mune [Kugimiya], the two top vault athetes are Korea and Turkey with difficulty of 6.02,” Carrion Norton said. “Caloy’s difficulty is 5.60. If Shin and Onder earn deductions and Caloy makes a perfect score, we have good chance.” Carrion Norton didn’t say if Yulo was bitten by the so-called “twisties,” which struck even the sensational Simone Biles of the US. The Associated Press described in a report “twisties” as the sudden inability for a gymnast to make the requisite spins—or sometimes any spins—for a particular maneuver. Jun Lomibao

BRITAIN’S Charlotte Worthington lands the first 360 backflip in women’s competition to win the gold medal in BMX park of cycling on Sunday. AP

American sportscaster Howard Cosell for coining the phrase. Duran said, he said, “No sigo” which is “I cannot go on.” The reason Duran said was he was suffering from stomach cramps because he ate too quickly after making weight. However, his manager then, Carlos Eleta, disagreed saying that Duran always ate like that after a weigh in and that his fighter quit because he was getting embarrassed. In that November re-match, Leonard returned to fighting like Muhammad Ali where he would jab then dance away. He was clearly out-pointing the Panamanian fighter who before the end of the eighth round waved his hands as if to say, he’s had enough. So I wondered if it was a similar case for Biles. Then came the report of her experiencing “the Twisties” which

means her brain and her body are not in sync. And I felt bad for Biles. Yes, I have heard of “the Twisties” before. Didn’t Jacoby Miles experience that mid-air and as a result of the disorientation, found herself in a bad fall that has left her paralyzed to this day. After Biles’s pulled out, I thought long and hard about what she was saying. However, there are many who do not believe Biles’s explanation. It’s just her losing her nerve after one bad performance, they say. Some have even called out the explanation of “the Twisties” as a form of rationalizing quitting. Seriously, it is not. I cannot say I follow her enough to conclude anything. It’s hard to go one that instance. It was said that she experienced the same thing prior to the Rio Olympics

OKYO—Kristina Knott gets the chance to “show off and show out” in her Olympic debut when she competes in the women’s 200 meters heats of athletics on Monday morning at the Tokyo Olympic Stadium. Knott has set her goal in the Tokyo Olympics to a modest level as she vies with the world’s best in the event that ranks second to the centerpiece century dash. “My goal is to go sub-23 (seconds),” Knott told the Tokyo Olympics official website days before the pandemic Games opened on July 23. But for these Games, she has to go the extra mile. There are seven heats for the event with Knott running in Heat 7 set for 10:18 a.m. (Manila time). “It’s championship time. And anything to do with tapering should have been done weeks before,” said Knott, who prepared for Tokyo under her coach Rohsaan Griffin and strength

and conditioning coach Carlo Buzzichelli. “At this point, you should have given everything you worked, and it will hopefully show at the competition,” Knott added. Knott has a personal best 23.01 seconds, the Philippine national record. But in Tokyo, she has to exert more effort. The 200m field parades many of the world’s best, including the US’s Gabrielle Thomas, who owns a 21.61-second mark in the race. Also in the mix are the Bahamas’s Shaunae Miller-Uibo (21.47) and Jamaica’s Elaine Thompson Herah (21.66). In Knott’s heat, five of her rivals have sub-23 times. “Tapering time is now over. It’s now time to show off and show out,” said the Orlando, Florida, native Knott, whose Olympic stint was threatened when she contracted Covid-19 in Sweden in June despite having been vaccinated twice. Jun Lomibao

in 2016. And yet, she did put up a performance for the ages where she won four gold and one silver medal. These things happen and you cannot predict when it will occur. Many other gymnasts have come to Biles’s defense while also telling experiences about going through the same thing. And I believe it extends to ordinary folks in the form of disorientation. In many ways, it’s disorientation that causes you to doubt yourself. Have I felt that way? Yes, I have. On a train. In my car. And one time, while even attending Mass. When I felt that disorientation, what followed was fear. And a cold sweat. “Where am I,” I wondered to myself while struggling to make heads and tails of where I was. And I take pride in my having an excellent sense of direction and anticipation.

In recent years, much has been said and done to bring mental health to the table where one can talk, discuss, and plan for it without anyone casting doubt. Last season, the English Premier League officially made it part of their program where they set aside a day and for their players to talk about it. The pandemic has brought this issue even more to the forefront with many suffering even during lockdown. I for one do not think Simone Biles got cold feet. She is a bemedalled athlete and had done her routine thousands of times. Failure is something every athlete knows. They too know all about bouncing back. And right now, Simone Biles bouncing back and finding her equilibrium is all the gold medal she needs.

Editor: Jennifer A. Ng

Companies BusinessMirror

Monday, August 2, 2021

Meralco seeks nod of ERC for capital spending plan

By Lenie Lectura

@llectura

he Manila Electric Co. (Meralco) is seeking regulatory approval to implement its capital expenditure (capex) program worth about P24.73 billion for regulatory year (RY) 2022, or from July 2021 up to June 30, 2022. In its nine-page application filed with the Energ y Regulator y Commission (ERC), the utility firm has lined up 110 projects during the period. Of which, 32 are major capex projects worth P7.952 billion while 78 are residual projects worth P16.722 billion. The most expensive among the 32 major projects is the development of the P1.64billon Antipolo substation. Other projects include the P725.93-million Retail Competition and Open Access (RCOA) meter conversion and system support, construction of the P685.3-million CND-Alagao line and the P633.7-million development of the San Joaquin substation. For the residual projects, Meralco has allotted P3.6 billion for distribution transformers; P3.2 billion for poles, towers and fixtures; and P870 million for meters and metering transformers.

Meralco said these capex projects are necessary to avert foreseen emergency situations and ensure the reliable operation of its distribution network and continuous distribution service and connection to meet the growing needs of its more than seven million customers. Meralco forecasts its customer base to expand to more than 7.5 million customers and peak demand to grow. Customers will require Meralco to increase the capacity of the electric distribution system to continue accommodating customers’ connections, while maintaining the reliability and power quality of its distribution system. “If no capacity augmentation project is undertaken starting July 1, Meralco would not be able to provide electric service to its existing and new customers,” said Meralco. If Meralco’s application is not approved, it will “severely hamper Meralco’s operations

and severely affect its ability to deliver electric service to its customers.” As such, Meralco said it is imperative to implement its RY2022 capex projects starting July 1 for the expansion and rehabilitation of its network facilities through the acquisition of new assets to ensure continuous delivery of reliable service and comply with safety, performance and other statutory/ regulatory requirements, while addressing the growing needs of its more than 7 million subscribers. “It is more respectfully prayed to this Honorable Commission that the instant application for authority to implement Meralco’s proposed capex program for RY 2022 be approved and that capex to be put in service be considered in the calculation of Meralco’s next regulatory rates. Pending hearing, it is likewise prayed that a provisional authority or interim relief be immediately issued authorizing Meralco to implement its RY 2022 capex program,” the utility firm said. As of end-June this year, Meralco’s total capex was 91 percent higher than 2020 largely due to catch-up capex implementation efforts. To date, P109 billion of capex for RY 2016 onwards have been filed with the ERC for approval. Of the total amount filed, the ERC partially approved a total of P24.2 billion for RY 2016 and 2017 while P51.3 billion has been manifested last March as “urgent” to allow Meralco to implement such capex proposals immediately.

STOCK-MARKET OUTLOOK Last week

Share prices plunged last week, with the main index falling to the 6,200-point level, as investors were spooked by the government’s decision to reimpose the strictest lockdown measures in Metro Manila. The benchmark Philippine Stock Exchange index (PSEi) fell 250.51 points to close at 6,270.23 points. The main index already fell more than 2 percent at the start of the week, but recovered most of it the following day. Most of the market losses came in on Friday when it plunged 226.30 points after the new quarantine classifications were announced. Volume of trade was still thin throughout the week, averaging at P4.63 billion. Foreign investors were net sellers at P3.79 billion. All other sub-indices closed in the red, with the exception of the Mining and Oil index that gained 289.73 points to close at 9,776.26 points. The broader All Shares index fell 103.65 to 3,934.66, the Financials index shed 54.53 to 1,361.09, the Industrial index declined 191.10 to 8,968.38, the Holding Firms index plunged 285.04 to 6,265.28, the Property index retreated 107.97 to 2,934.57 and the Services index was down 27.14 to 1,525.23. For the week, losers edged gainers 158 to 59 and 22 shares were unchanged. Top gainers for the week were Emperador Inc., Benguet Corp. A and B shares, I-Remit Inc., GMA Network Inc., Wilcon Depot Inc. and Nickel Asia Corp.

Top losers were Acesite (Phils.) Hotel Corp., Primex Corp., Ever-Gotesco Resources and Holdings Inc., Basic Energy Corp., Philippine Trust Co. and Premiere Horizon Alliance Corp.

This week

Share prices may continue to decline this week as investors will take into consideration the economic losses brought about by Metro Manila’s reversion to the the strictest quarantine classification starting August 6. “Another round of enhanced community quarantine [ECQ] in the NCR [National Capital Region] from August 6 to 20 is seen to further limit both household consumption and business activities in the said region which is the biggest contributor to our GDP. This in turn is expected to lead to more economic repercussions including jobs and income losses, as well as a decline in business and consumer confidence,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said. Trading may remain tepid as many investors are expected to stay on the sidelines due to lingering uncertainties on the country’s Covid-19 situation and economic outlook, he said. Investors are expected to watch out for the second quarter corporate reports as well the July inflation rate during the week. “The low base effect will result to a bloated a year-on-year comparison, so it may be more prudent to look at sequential growth, or even better, guidance for the remainder of the year

within the context of the delta variant,” broker 2TradeAsia said. “This is especially important for Covid-risk sectors, or those whose operational days are likely to be affected by stricter lockdown such as consumer discretionary, commercial real estate and other leisure and tourism-allied industries.” The local market’s initial support is seen at the 6,100 to 6,160-point range, while initial resistance is seen at 6,400 points.

Stock picks

Macquarie Capital Securities (Philippines) Inc. said the Property index is its most favored sector, thanks to a robust recovery with one of the highest sectoral earnings growth for 2021. “Residential segment spearheading growth, with low rates and increased aggressiveness in launching new projects.” It said the office sector provided “surprising resilience,” with demand from the business process outsourcing industry still forthcoming, which will cushion the impact of the exit of the Chinese offshore online gaming operators. “We like residential-focused property companies most,” it said. It gave an outperform recommendation on the stock of Ayala Land Inc., which it placed at a target price of P45 per share and SM Prime Holdings Inc., which had a target price of P39.50. Ayala Land shares were last traded at P32.70 apiece, while SM Prime closed at P31.45 per share on Friday. VG Cabuag

Companies BusinessMirror

Monday, August 2, 2021

NGCP targeting to complete VisMin power grid in Q1 2022

By Lenie Lectura

@llectura

he National Grid Corporation of the Philippines (NGCP) is aiming to complete the Mindanao-Visayas Interconnection Project (MVIP) within the first quarter of next year. “We are targeting that date, first quarter of 2022,” said NGCP President Anthony Almeda said during last week’s hearing of the House Committee on Energy. Almeda said the delay in the

completion of MVIP was mostly due to unresolved right-of-way issues. “Our main real problem only now is a couple of landowners but the lines are there, even our substations are all over already from

one side to another.” He said NGCP is closely working on this and is in constant communication with the people involved. “Everything is in place already. It’s just the land that has to be given to our technical group. We will push hard for the timeline.” The MVIP, certified as an Energy Project of National Significance in 2018, was initially targeted for completion by December 2020 but was extended to December 2021 due to the Covid-19 pandemic and subsequent quarantine restrictions across the country. Several portions of its fiber optic cable connection were also damaged recently. Upon completion, the MVIP will connect the Visayas and Mindanao grids through a high volt-

age direct current (HVDC) system with a 450 MegaWatt (MW) initial capacity. The project covers 184 circuit kilometers (ckm) of submarine cables and 526 ckm of overhead wires connecting Dapitan, Zamboanga del Norte to Santander, Cebu. The NGCP reported last February that the submarine cable no.1 portion of the MVIP’s DapitanSantander 350kV high voltage direct current (HVDC) line between Dapitan, Zamboanga del Norte and Santander, Cebu, was found to have been damaged in several locations. NGCP had said that it was working on a catch-up plan given the fragility of handling fiber optic submarine cables.

SEC creates office for fintech regulation T he Securities and Exchange Commission (SEC) has created a new division which aims to regulate the country’s emerging financial technology sector. The SEC has launched the PhiliFintech Innovation Office, which will be under its Corporate Governance and Finance Department. The new office will focus on the regulation of the use of fintech in the Philippines. “Integral to our mission of championing the business sector, the capital market and the investing public, is fostering innovation,” SEC Chairman Emilio B. Aquino said. “The commission has supported new and emerging business concepts while taking a proactive stance

against any excessive risk buildup to ensure market integrity. The PhiliFintech Innovation Office will be at the forefront of building an enabling regulatory environment for fintech, in particular.” Regulating innovative trading markets and technology-based ventures is part of the mandate of the SEC, as provided under the Securities Regulation Code. The SEC previously supervised the registration and granting of licenses for non-traditional securities and instruments through its Non-Traditional Department, which was later abolished following the creation of the Insurance Commission in 2010. VG Cabuag

mutual funds

July 30, 2021 NAV

One Year Three Year Five Year

per share

Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

209.2

6.71%

-7.24%

-5.44%

ATRAM Alpha Opportunity Fund, Inc. -a

1.3785

37.52%

-2.13%

-0.14%

4.99%

9.6%

-11.45%

-8.11%

-7.87%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8865

-7.93%

Climbs Share Capital Equity Investment Fund Corp. -a 0.73642 9.21%

-6.83% n.a.

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7275

11.1%

-5.49% n.a.

First Metro Save and Learn Equity Fund,Inc. -a

9.52%

-5.35%

-3.74%

-6.64%

0.6876

3.87%

-8.1%

-7.71%

-3.41% n.a.

-4.31%

8.6%

-5.66%

-4.43%

-8.77%

6.4%

-5.31%

4.6134

First Metro Save and Learn Philippine Index Fund, Inc. -a,4 MBG Equity Investment Fund, Inc. -a

97.55

PAMI Equity Index Fund, Inc. -a

42.7394

26.89%

-8.39% -1.9%

Philam Strategic Growth Fund, Inc. -a

449.92

-4.78%

-7.99%

Philequity Alpha One Fund, Inc. -a,d,5

1.0422

21.13% n.a. n.a.

-5.02%

Philequity Dividend Yield Fund, Inc. -a

1.1035

10.68%

-4.66%

-3.57%

Philequity Fund, Inc. -a

32.1886

9.72%

-4.72%

-5.54%

-3.32%

-7.42%

Philequity MSCI Philippine Index Fund, Inc. -a

0.831

6.81% n.a. n.a.

-8.98%

Philequity PSE Index Fund Inc. -a

4.384

9.44%

-5.05%

-3.68%

-8.5%

Philippine Stock Index Fund Corp. -a

733.64

9.31%

-4.96%

-3.8%

-8.48%

Soldivo Strategic Growth Fund, Inc. -a

0.6719

10.91%

-6.54%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.359

-8.45%

-6.69%

8.14%

-6.88%

-4.95%

-7.31%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8375 8.82%

-5.32%

-3.96%

-8.74%

United Fund, Inc. -a

-5.13%

3.0764

9.03%

-9.5%

-3%

-7.31%

-4.76%

-3.28%

Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

98.4751

9.28%

-8.44%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.193

16.05%

4.56%

6.41%

-0.82%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8048

24.5%

11.2%

11.82%

7.89%

Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a

1.6515

5.87%

-0.78%

-2.39%

-1.02%

ATRAM Philippine Balanced Fund, Inc. -a

2.1498

5.17%

-2.21%

-2.24%

-5.93%

First Metro Save and Learn Balanced Fund Inc. -a 2.5057

4.54%

-1.58%

-1.56%

-4.62%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1859

1.09% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

0.59%

1.9012

3.57%

PAMI Horizon Fund, Inc. -a

3.5696

2.86%

-0.49%

-1.92%

Philam Fund, Inc. -a

15.9863

3.44%

-0.38%

-1.88%

-5.61%

Solidaritas Fund, Inc. -a

1.9962

4.72%

-1.75%

-1.5%

-4.68%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.4051 4.62%

-2.77%

-2.86%

-4.7%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9619

2.82% n.a. n.a.

-5.94%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.867

3.89% n.a. n.a.

-8.66%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8499

5.08% n.a. n.a.

-8.92%

Sun Life Prosperity Dynamic Fund, Inc. -a

5.76%

-4.71%

0.8459

-3.51%

-0.57%

-3.31%

-6.39%

-3.2% -5.77%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.0382

-2.77%

2.71%

1.25%

-2.35%

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 30, 2021

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG IREMIT MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH

44 102 80.5 24.1 7.99 9.45 43 20.1 56.25 80 19.2 109 76 1.2 4.29 0.59 2.9 1.22 0.35 0.61 224.2

45.05 102.1 80.75 24.6 8.49 9.5 43.25 20.15 57.5 105 19.96 110 76.7 1.3 4.3 0.64 3.13 1.31 0.375 0.72 225

45 107 83.65 24.7 7.97 9.5 44.6 20.5 57.6 80 20.35 110.1 76.5 1.2 4.38 0.59 2.9 1.31 0.35 0.61 215

45 108.4 83.7 25 8.49 9.82 45 20.65 57.6 80 20.35 111 76.9 1.22 4.38 0.59 2.9 1.31 0.365 0.61 225.4

43.9 102 80.5 24.6 7.97 9.4 43 20 57 80 19.1 108 75.5 1.2 4.29 0.59 2.9 1.31 0.35 0.61 215

44 102 80.5 24.6 8.49 9.45 43 20.1 57.5 80 19.96 110 76.7 1.2 4.3 0.59 2.9 1.31 0.365 0.61 224.2

3,700 3,870,590 1,795,340 4,700 200 49,100 2,547,800 457,800 4,630 10 9,700 319,760 5,080 115,000 184,000 5,000 23,000 1,000 20,000 13,000 24,550

163,060 401,204,721 146,163,324.50 116,200 1,646 465,441 111,253,315 9,226,460 264,270 800 188,106 34,948,154 387,457.50 138,040 793,270 2,950 66,700 1,310 7,150 7,930 5,496,302

132,000 -13,575,108 -91,340,409 -170,261 -69,642,455 749,850 -7,644,456 302,496.50 13,050 4,829,368

INDUSTRIAL AC ENERGY 8.02 8.04 8.2 8.3 7.85 8.02 40,524,800 325,631,150 1.22 1.24 1.23 1.24 1.2 1.24 378,000 458,490 ALSONS CONS 23.2 23.85 24.4 24.45 23.2 23.2 3,859,300 91,421,715 ABOITIZ POWER 0.48 0.485 0.51 0.52 0.455 0.48 49,546,000 24,129,745 BASIC ENERGY FIRST GEN 28.55 29 29.3 29.3 28.35 29 539,700 15,453,675 FIRST PHIL HLDG 73.9 74 75.1 75.1 73.9 73.9 89,570 6,622,374.50 MERALCO 265 267.2 269 269 265 265 352,630 93,734,918 16.2 16.32 16.9 16.9 16.2 16.2 1,879,700 30,796,884 MANILA WATER 3.04 3.05 3.12 3.12 3.03 3.05 1,363,000 4,175,740 PETRON 3.95 4.04 4.04 4.04 4.04 4.04 2,000 8,080 PETROENERGY PHX PETROLEUM 12.56 12.94 12.56 12.94 12.56 12.94 10,100 130,058 18.3 18.4 19 19 18.2 18.3 1,014,600 18,681,898 PILIPINAS SHELL SPC POWER 11.84 11.86 11.9 11.96 11.6 11.84 82,200 968,340 5.67 5.95 5.92 5.95 5.62 5.95 259,300 1,503,302 AGRINURTURE 2.66 2.7 2.7 2.77 2.7 2.7 193,000 521,420 AXELUM 69.2 72.1 69 72.1 69 72.1 50 3,514 BOGO MEDELLIN CNTRL AZUCARERA 12.94 13.4 13.4 13.4 13.4 13.4 500 6,700 24.7 25 24.95 25 24.65 25 1,362,600 33,900,805 CENTURY FOOD DEL MONTE 16.92 16.94 17.4 17.5 16.42 16.94 525,500 8,831,962 7.95 8 8.05 8.05 7.62 8 3,130,300 24,773,400 DNL INDUS 13.98 14 13.5 14.32 13.5 13.98 3,924,700 55,243,792 EMPERADOR 83 83.5 84.5 84.5 80.55 83.5 237,350 19,733,689 SMC FOODANDBEV ALLIANCE SELECT 0.66 0.67 0.66 0.66 0.64 0.66 449,000 292,500 1.2 1.21 1.22 1.22 1.2 1.21 2,673,000 3,228,650 FRUITAS HLDG GINEBRA 85 87.05 90 90 85 85 33,830 2,940,542.50 190 191 198 198 188.7 190 818,990 156,134,120 JOLLIBEE 28.25 29.45 28.55 28.55 28.55 28.55 400 11,420 LIBERTY FLOUR 5.96 6 6.1 6.1 5.95 5.98 257,900 1,540,901 MAXS GROUP MG HLDG 0.226 0.23 0.233 0.233 0.225 0.226 570,000 129,640 14.78 14.9 15.26 15.46 14.66 14.78 13,607,300 202,743,066 MONDE NISSIN SHAKEYS PIZZA 7.41 7.5 7.5 7.5 7.4 7.5 177,900 1,332,025 0.96 0.97 1.01 1.05 0.96 0.97 9,619,000 9,634,810 ROXAS AND CO 4.43 4.67 4.7 4.7 4.41 4.41 64,000 297,120 RFM CORP 1.36 1.44 1.36 1.36 1.36 1.36 17,000 23,120 ROXAS HLDG SWIFT FOODS 0.129 0.13 0.131 0.136 0.129 0.129 11,690,000 1,533,100 UNIV ROBINA 126.7 128 134 135.2 126.7 126.7 758,050 97,538,424 VITARICH 0.77 0.78 0.8 0.81 0.76 0.78 1,339,000 1,035,980 2.3 2.46 2.46 2.46 2.46 2.46 4,000 9,840 VICTORIAS 48.1 50 49.55 49.55 48.5 48.5 12,200 591,810 CONCRETE A 52.65 59.75 53.6 53.6 53.6 53.6 70 3,752 CONCRETE B CEMEX HLDG 1.2 1.21 1.23 1.27 1.19 1.21 5,026,000 6,147,050 EAGLE CEMENT 14.5 14.74 14.8 14.8 14.18 14.5 37,000 530,040 EEI CORP 7.6 7.9 7.52 7.6 7.5 7.6 53,400 401,770 6.36 6.4 6.55 6.55 6.25 6.35 430,600 2,745,163 HOLCIM 6.04 6.05 6.11 6.27 6.03 6.05 650,300 3,950,148 MEGAWIDE 12.5 13 13.8 14 13 13 90,800 1,222,920 PHINMA TKC METALS 1 1.02 1.01 1.04 0.98 1.02 229,000 232,500 1.34 1.35 1.55 1.61 1.33 1.35 16,984,000 23,981,470 VULCAN INDL CROWN ASIA 1.64 1.65 1.67 1.67 1.45 1.64 289,000 466,280 1.8 1.87 1.81 1.88 1.8 1.87 80,000 144,960 EUROMED 5.12 5.4 5.1 5.45 5.1 5.4 26,400 137,974 MABUHAY VINYL 5.28 5.35 5.35 5.35 5.35 5.35 51,700 276,595 PRYCE CORP GREENERGY 2.3 2.34 2.45 2.55 2.15 2.34 18,272,000 42,858,360 INTEGRATED MICR 8.6 8.9 8.98 9.03 8.53 8.9 726,500 6,315,829 IONICS 0.89 0.9 0.93 0.93 0.9 0.9 960,000 871,420 5.77 5.9 5.76 5.9 5.76 5.9 2,100 12,376 PANASONIC 1.2 1.21 1.22 1.25 1.2 1.21 1,075,000 1,309,210 SFA SEMICON 4.65 4.78 4.89 4.94 4.65 4.65 2,920,000 13,878,390 CIRTEK HLDG

89,199,354.00 -43,867,600 367,060 -6,418,610 -274,668.50 -60,113,602 -5,552,258.00 -1,968,430 -8,080 -3,043,108 -15,518 -59,724 -13,314,675 22,542 -8,415,765 654,610 9,178,553.50 -40,780 662,971.50 -66,150,236 20,868,930 1,211,902 -714,570 -18,620 -23,120 -89,010 -55,961,451 369,000 -27,644 -255,313 -677,115 130,000 149,000 -10,270 9,306,280 617,109.00 41,580 111,340.00

HOLDING & FRIMS ABACORE CAPITAL 0.91 0.92 0.93 0.94 0.89 0.92 6,069,000 5,510,140 6.21 7 7 7.2 6.95 7.1 500 3,525 ASIABEST GROUP 721 730 728 731 707 730 420,290 303,299,015 AYALA CORP 37.6 38.25 39.9 39.9 37.6 37.6 1,334,300 50,810,265 ABOITIZ EQUITY ALLIANCE GLOBAL 9.71 10.16 10.02 10.16 9.5 10.16 2,240,600 22,418,617 AYALA LAND LOG 3.99 4 4.02 4.12 3.78 4 5,681,000 22,261,900 ANSCOR 6.71 6.9 6.9 6.9 6.9 6.9 100 690 0.95 0.96 0.97 0.98 0.94 0.96 3,116,000 2,982,710 ANGLO PHIL HLDG 0.55 0.56 0.57 0.58 0.55 0.55 819,000 457,180 ATN HLDG A 0.55 0.69 0.56 0.56 0.55 0.55 150,000 83,000 ATN HLDG B COSCO CAPITAL 4.89 4.9 4.95 4.97 4.85 4.9 358,000 1,747,020 DMCI HLDG 5.99 6 6.22 6.28 6 6 7,901,100 47,690,037 FILINVEST DEV 7.7 7.8 7.8 7.8 7.7 7.7 8,800 68,100 0.3 0.32 0.315 0.325 0.3 0.325 700,000 211,700 FORUM PACIFIC 543.5 544 563 563 543.5 543.5 98,370 53,785,540 GT CAPITAL 3.91 3.95 4.01 4.01 3.9 3.9 109,000 427,860 HOUSE OF INV JG SUMMIT 56 56.4 58 58.5 55.3 56 3,028,490 170,519,020 JOLLIVILLE HLDG 5.56 5.74 5.57 5.57 5.56 5.56 2,000 11,125 0.63 0.66 0.68 0.7 0.63 0.66 1,741,000 1,118,630 LODESTAR 3 3.17 3.11 3.11 3 3 1,399,000 4,319,480 LOPEZ HLDG 9.76 9.77 9.9 10.2 9.67 9.77 15,015,200 148,132,698 LT GROUP 0.51 0.53 0.5 0.53 0.5 0.53 36,000 18,030 MABUHAY HLDG METRO PAC INV 3.5 3.57 3.64 3.65 3.5 3.5 23,258,000 82,099,680 SOLID GROUP 1.18 1.22 1.18 1.18 1.18 1.18 54,000 63,720 910.5 920 956 956 910 910.5 344,130 316,126,295 SM INVESTMENTS 104 107 113 113 104 104 354,010 37,854,149 SAN MIGUEL CORP 0.68 0.7 0.69 0.71 0.69 0.7 36,000 25,060 SOC RESOURCES 2.14 2.37 2.13 2.13 2.13 2.13 1,000 2,130 SEAFRONT RES TOP FRONTIER 136 138.5 138.5 138.5 136 137 1,940 264,926 WELLEX INDUS 0.275 0.28 0.275 0.275 0.275 0.275 640,000 176,000 0.196 0.199 0.198 0.198 0.195 0.196 1,550,000 303,400 ZEUS HLDG

3,019,870 -112,183,225 -33,666,175 4,050,712 -30,340 1,960 -449,610 -23,083,537 -17,324,080 -345,560 -67,851,541.50 -1,035,320 -47,517,607 -59,627,630 -156,720,560 -20,679,532 -111,615 84,280

PROPERTY ARTHALAND CORP 0.62 0.64 0.62 0.64 0.62 0.62 437,000 271,160 32.7 32.95 35 35 32.7 32.7 12,663,000 423,160,630 AYALA LAND 1.13 1.18 1.14 1.14 1.13 1.13 150,000 169,520 ARANETA PROP 36 36.1 36.3 36.4 35.85 36.1 395,200 14,272,795 AREIT RT BELLE CORP 1.37 1.38 1.39 1.4 1.37 1.37 430,000 592,410 0.9 0.91 0.91 0.93 0.88 0.9 641,000 575,000 A BROWN CITYLAND DEVT 0.77 0.78 0.8 0.8 0.77 0.77 661,000 513,420 0.126 0.129 0.132 0.132 0.126 0.129 2,670,000 338,560 CROWN EQUITIES 6.21 6.68 6.26 6.26 6.2 6.21 85,500 533,030 CEBU HLDG 2.8 2.82 2.87 2.95 2.75 2.82 2,602,000 7,437,700 CEB LANDMASTERS CENTURY PROP 0.415 0.42 0.45 0.45 0.42 0.42 14,150,000 5,997,850 DOUBLEDRAGON 10.08 10.1 10.38 10.38 10 10.1 722,200 7,337,316 DDMP RT 1.8 1.81 1.83 1.83 1.79 1.81 10,434,000 18,792,300 6.93 6.98 6.9 6.98 6.9 6.93 39,700 275,102 DM WENCESLAO 0.275 0.28 0.27 0.28 0.27 0.28 100,000 27,900 EMPIRE EAST 0.275 0.28 0.325 0.325 0.275 0.28 43,800,000 12,816,650 EVER GOTESCO FILINVEST LAND 1.1 1.11 1.11 1.12 1.09 1.11 9,180,000 10,101,000 GLOBAL ESTATE 0.82 0.83 0.83 0.83 0.82 0.82 388,000 322,030 8990 HLDG 7.1 7.25 7.25 7.25 7.25 7.25 1,100 7,975 1.21 1.22 1.23 1.23 1.21 1.21 1,223,000 1,486,090 PHIL INFRADEV 1.21 1.22 1.27 1.3 1.21 1.21 574,000 709,850 CITY AND LAND 2.77 2.82 2.9 2.93 2.77 2.77 35,830,000 100,774,260 MEGAWORLD MRC ALLIED 0.29 0.295 0.305 0.31 0.285 0.29 14,430,000 4,237,000 PHIL ESTATES 0.53 0.54 0.57 0.59 0.53 0.54 13,845,000 7,704,570 PRIMEX CORP 2.25 2.28 2.4 2.4 2.15 2.28 734,000 1,639,430 16.04 16.1 16.5 16.5 15.8 16.1 829,400 13,346,652 ROBINSONS LAND 0.255 0.26 0.26 0.26 0.246 0.255 2,340,000 596,070 PHIL REALTY 1.5 1.55 1.5 1.5 1.49 1.5 80,000 119,930 ROCKWELL SHANG PROP 2.6 2.69 2.6 2.6 2.6 2.6 16,000 41,600 2.67 2.7 2.68 2.8 2.67 2.67 758,000 2,037,830 STA LUCIA LAND 31.45 31.5 33.3 33.3 31.45 31.45 14,518,900 464,825,450 SM PRIME HLDG 3.74 3.84 3.74 3.85 3.74 3.85 2,000 7,590 VISTAMALLS 1.46 1.5 1.45 1.52 1.45 1.5 1,479,000 2,226,050 SUNTRUST HOME 43 59.9 43.05 43.05 43.05 43.05 2,000 86,100 PTFC REDEV CORP VISTA LAND 3.41 3.45 3.45 3.48 3.37 3.41 857,000 2,921,010 SERVICES ABS CBN 11.06 11.16 11.2 11.3 11.04 11.16 125,400 1,400,606 12.9 12.92 12.94 13.48 12.12 12.92 7,162,200 92,046,712 GMA NETWORK 0.405 0.42 0.405 0.405 0.405 0.405 140,000 56,700 MANILA BULLETIN 1,860 1,894 1,907 1,907 1,860 1,860 67,745 127,043,845 GLOBE TELECOM PLDT 1,225 1,237 1,245 1,278 1,225 1,225 174,760 215,002,295 APOLLO GLOBAL 0.109 0.11 0.115 0.118 0.107 0.11 324,270,000 36,137,680 CONVERGE 22.8 22.85 22.9 23.15 22.55 22.8 5,418,300 123,494,390 3.77 3.84 3.82 3.9 3.71 3.84 368,000 1,408,330 DFNN INC 6.9 6.91 7.1 7.28 6.8 6.91 11,537,400 79,989,562 DITO CME HLDG 2.1 2.15 2.1 2.15 2.06 2.15 10,000 20,890 JACKSTONES NOW CORP 2.1 2.11 2.12 2.12 2.04 2.1 835,000 1,742,200 0.38 0.39 0.4 0.405 0.375 0.38 9,350,000 3,645,100 TRANSPACIFIC BR PHILWEB 2.15 2.21 2.19 2.21 2.14 2.21 242,000 521,050 8.06 8.34 8.06 8.37 8.05 8.36 20,800 168,125 2GO GROUP 13.6 14.2 14 14.2 14 14.2 1,500 21,100 ASIAN TERMINALS 2.61 2.64 2.76 2.76 2.61 2.65 510,000 1,348,160 CHELSEA CEBU AIR 44.05 44.65 45.25 45.25 44 44.05 113,600 5,061,905 INTL CONTAINER 155.5 158.5 159 163 153.1 155.5 2,353,460 369,427,320 LBC EXPRESS 16.38 17.68 17.68 17.68 17.68 17.68 200 3,536 0.97 1.06 0.97 0.97 0.97 0.97 3,000 2,910 LORENZO SHIPPNG 4.49 4.5 4.67 4.75 4.41 4.49 3,187,000 14,525,990 MACROASIA 1.82 1.86 1.86 1.86 1.81 1.82 37,000 67,800 METROALLIANCE A METROALLIANCE B 1.89 2 1.95 1.95 1.95 1.95 10,000 19,500 1.03 1.06 1.1 1.1 1.02 1.06 305,000 316,440 HARBOR STAR 1.73 1.75 1.95 2 1.71 1.76 1,124,000 2,053,980 ACESITE HOTEL 0.092 0.093 0.103 0.106 0.09 0.092 381,400,000 36,286,060 BOULEVARD HLDG 2.41 2.53 2.46 2.53 2.42 2.53 32,000 78,280 DISCOVERY WORLD 0.52 0.53 0.54 0.54 0.52 0.52 1,309,000 681,650 WATERFRONT IPEOPLE 7.06 7.46 7.06 7.06 7.06 7.06 700 4,942 0.345 0.35 0.355 0.355 0.34 0.345 1,920,000 657,000 STI HLDG BERJAYA 5.4 5.5 5.5 5.5 5.5 5.5 11,500 63,250 5.68 5.75 5.92 5.92 5.6 5.68 3,823,500 21,848,541 BLOOMBERRY 1.97 2.04 2.05 2.05 1.98 1.98 7,000 14,000 PACIFIC ONLINE 1.42 1.48 1.48 1.48 1.43 1.48 443,000 642,210 LEISURE AND RES PH RESORTS GRP 1.66 1.7 1.71 1.71 1.66 1.7 864,000 1,453,400 PREMIUM LEISURE 0.4 0.405 0.41 0.415 0.395 0.4 2,710,000 1,089,900 ALLHOME 7.33 7.42 7.7 7.7 7.3 7.3 24,400 180,476 1.32 1.33 1.31 1.34 1.31 1.33 495,000 650,890 METRO RETAIL 40 40.3 40.2 40.5 39.5 40.3 2,493,000 99,931,980 PUREGOLD 53 53.7 54 54 52 53.7 280,300 14,818,654.50 ROBINSONS RTL PHIL SEVEN CORP 89.9 92 90 95 89.5 92 183,580 16,524,075 SSI GROUP 1.14 1.15 1.16 1.18 1.12 1.15 3,339,000 3,780,330 WILCON DEPOT 22 22.15 22.7 23.45 22 22 2,701,300 61,123,170 0.335 0.34 0.34 0.34 0.34 0.34 240,000 81,600 APC GROUP 5.13 5.48 5.31 5.31 5.12 5.12 34,900 180,639 EASYCALL 438.4 448.4 438.2 448.4 438.2 448.4 2,030 909,980 GOLDEN MV IPM HLDG 6.36 6.49 6.35 6.36 6.35 6.36 2,400 15,258 1.01 1.02 1.07 1.09 0.97 1.02 22,815,000 23,120,230 PRMIERE HORIZON SBS PHIL CORP 4.2 4.3 4.31 4.31 4.3 4.3 13,000 55,920

MINING & OIL ATOK 6.61 7 6.95 7.1 6.4 7 259,900 1,735,497 1.64 1.65 1.72 1.74 1.63 1.65 3,207,000 5,406,160 APEX MINING Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.2205 8.33% 5.03% 4.52% 1.53% 6.76 6.77 7.03 7.05 6.61 6.77 1,962,800 13,328,004 ATLAS MINING BENGUET A 5.18 5.19 5.2 5.2 4.93 5.18 205,100 1,057,755 Bond Funds 4.89 5.23 5.2 5.24 4.9 5.23 22,100 114,297 BENGUET B Primarily invested in Peso securities 0.285 0.3 0.285 0.3 0.285 0.3 150,000 43,450 COAL ASIA HLDG 2.82 2.9 2.9 2.9 2.9 2.9 3,000 8,700 CENTURY PEAK ALFM Peso Bond Fund, Inc. -a 373.03 1.55% 3.19% 2.43% 0.53% 6.12 6.42 6.45 6.45 6.11 6.42 5,200 32,299 DIZON MINES ATRAM Corporate Bond Fund, Inc. -a 1.9234 -1.17% 1.11% 0.16% 1.22% 2.4 2.41 2.44 2.47 2.39 2.4 8,016,000 19,428,800 FERRONICKEL GEOGRACE 0.265 0.275 0.28 0.28 0.275 0.275 290,000 80,250 Cocolife Fixed Income Fund, Inc. -a 3.2348 1.18% 3.64% 4.26% 0.63% 0.139 0.141 0.139 0.141 0.137 0.139 17,090,000 2,358,730 LEPANTO A Ekklesia Mutual Fund Inc. -a 2.2696 -1.45% 2.32% 1.2% -1.15% 0.142 0.148 0.148 0.148 0.148 0.148 450,000 66,600 LEPANTO B 0.01 0.011 0.01 0.011 0.01 0.01 140,600,000 1,456,300 MANILA MINING A First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4445 -0.4% 3.32% 1.68% -0.35% 0.01 0.011 0.01 0.011 0.01 0.011 27,800,000 293,200 MANILA MINING B Philam Bond Fund, Inc. -a 4.4942 -3.61% 4.59% 1.09% -3.03% 1.2 1.21 1.23 1.25 1.16 1.21 807,000 984,340 MARCVENTURES NIHAO 1.23 1.27 1.32 1.32 1.22 1.23 257,000 316,320 Philam Managed Income Fund, Inc. -a,6 1.3181 1.11% 4.03% 2.7% -0.23% 6.06 6.07 6.11 6.24 5.91 6.06 16,489,300 100,063,504 NICKEL ASIA Philequity Peso Bond Fund, Inc. -a 3.9824 0.48% 4.6% 1.74% -0.47% OMICO CORP 0.38 0.395 0.38 0.38 0.38 0.38 50,000 19,000 0.91 0.93 0.95 0.95 0.9 0.93 743,000 687,720 ORNTL PENINSULA Soldivo Bond Fund, Inc. -a 1.0383 -0.05% 4.92% 1.49% -0.36% 6.1 6.14 6.33 6.5 6.02 6.14 1,679,300 10,448,216 PX MINING 16.32 16.4 16.5 17.04 16.14 16.32 3,000,900 49,703,992 SEMIRARA MINING Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2186 1.2% 5.33% 2.08% 0.39% UNITED PARAGON 0.0087 0.009 0.0088 0.0091 0.0086 0.0091 76,000,000 675,700 Sun Life Prosperity GS Fund, Inc. -a 1.7519 0.33% 4.64% 1.39% -0.18% 16 16.28 16.7 16.9 15.2 16.38 357,200 5,678,848 ACE ENEXOR 0.011 0.012 0.011 0.012 0.011 0.012 83,000,000 913,100 ORNTL PETROL A Primarily invested in foreign currency securities 0.011 0.012 0.011 0.011 0.011 0.011 101,000,000 1,111,000 ORNTL PETROL B ALFM Dollar Bond Fund, Inc. -a $486.93 2.04% 3.15% 2.15% 0.63% 0.011 0.012 0.011 0.012 0.011 0.012 46,500,000 511,600 PHILODRILL 6.91 6.95 7.05 7.13 6.95 6.95 176,600 1,235,195 PXP ENERGY ALFM Euro Bond Fund, Inc. -a Є220.28 1.74% 1.06% 0.9% 0.5% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1958 -3.33% 2.34% 1.26% -6.61% PREFFERED First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0261 -1.14% 1.72% 0.78% -1.88% HOUSE PREF A 100.8 101 100.8 101 100.8 101 24,250 2,449,240 44.35 44.4 45.05 45.05 44.35 44.35 44,500 1,992,395 CEB PREF PAMI Global Bond Fund, Inc -b $1.0434 -3.92% 0.28% -1.19% -4.51% 102.1 103 102.1 102.1 102.1 102.1 17,120 1,747,952 CPG PREF A Philam Dollar Bond Fund, Inc. -a $2.5136 0.7% 4.98% 1.79% -0.87% 100.2 101 100 101 100 100.2 116,350 11,706,835 DD PREF FGEN PREF G 104.8 105.6 105.6 105.6 105.6 105.6 80 8,448 Philequity Dollar Income Fund Inc. -a $0.0630388 3.42% 3.56% 2.1% 1.16% 101 101.5 101.5 101.5 101.5 101.5 600 60,900 MWIDE PREF 100.7 102 100.6 100.6 100.6 100.6 500 50,300 MWIDE PREF 2B Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1841 -1.69% 3.35% 0.66% -1.23% 104 106 104.1 106 104 106 1,440 149,993 PNX PREF 3B Money Market Funds 997 1,004 1,002 1,004 1,002 1,004 1,425 1,427,860 PNX PREF 4 999 1,000 1,010 1,010 1,000 1,000 5,790 5,797,140 PCOR PREF 2B Primarily invested in Peso securities PCOR PREF 3A 1,081 1,100 1,085 1,100 1,085 1,100 2,400 2,626,000 ALFM Money Market Fund, Inc. -a 130.41 1.42% 3.01% 2.53% 0.46% 1,102 1,147 1,102 1,102 1,101 1,102 3,215 3,542,680 PCOR PREF 3B 77.3 77.6 77.8 77.8 77.5 77.6 34,490 2,679,400 SMC PREF 2C First Metro Save and Learn Money Market Fund, Inc. -a 1.0539 1.04% n.a. n.a. 0.55% 78.5 79.35 79.4 79.4 78.5 78.5 17,700 1,399,091 SMC PREF 2F Sun Life Prosperity Money Market Fund, Inc. -a 1.3068 1.64% 2.82% 2.55% 0.79% 76.1 76.95 76.1 76.1 76.1 76.1 800 60,880 SMC PREF 2H 78.05 79.1 79 79.2 79 79.2 10,000 791,000 SMC PREF 2I Primarily invested in foreign currency securities SMC PREF 2J 75.7 76 76.8 76.9 76 76 7,250 557,010 Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0581 1.12% 1.64% n.a. 0.54% 76.5 76.9 76.5 76.5 76.5 76.5 8,000 612,000 SMC PREF 2K Feeder Funds PHIL. DEPOSITARY RECEIPTS Primarily invested in Peso securities ABS HLDG PDR 10.4 11 11.16 11.16 11.16 11.16 300 3,348 11.36 11.88 11.56 12.22 11.14 11.36 392,800 4,605,562 GMA HLDG PDR Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d,7 1.3236 31.17% n.a. n.a. 17.17% Primarily invested in foreign currency securities WARRANTS LR WARRANT 1.21 1 - - - - - - ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.99 4.21% n.a. n.a. 1.02%

PAMI Asia Balanced Fund, Inc. -b

5.91%

2.54%

3.41%

-5.23%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7494 17.95%

$1.0901

8.6%

8.28%

5.24%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019. 4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019. 6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund).

7 - Launch date is July 6, 2020.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

8,060 -150,457,885 -814,255.00 -300 166,860 -532,404 -1,518,420 255,300 -2,325,658 -5,018,240 109,850 -812,730 -321,210 61,000 26,840 -54,453,850 228,550 -340.0001 262,160 -3,835,170 -248,010,175 -22,500 -43,610 -53,732,575 -122,462,145 -376,720 15,985,195 904,380 2,837,765 -18,740 -25,100 12,090 -428,540.00 -1,595,985 -145,138,801 -260,560 -298,030 65,640 3,640 7,000 -17,644,604 117,710 414,430 -1,150 -767 -72,050 20,599,245 -4,738,696.50 -573,885 44,000.00 26,325,065 -103,308 123,960 -5,103 187,380 -177,757 21,228 -5,319,920 1,100 23,570 22,685,612 -688,797 781,986 -387,739 -351,420 - 3,348 -2,056,720

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS KEPWEALTH MERRYMART

16.66 1.98 4.53 3.09

16.68 2 4.97 3.11

EXHANGE TRADE FUNDS FIRST METRO ETF

97.1

17.12 2.07 4.55 3.25

16.66 2 4.52 3.02

16.68 2 4.52 3.11

27,800 574,000 9,000 8,387,000

464,412 1,156,090 40,740 26,186,120

827,860

98.75 99.3 96.5 97.1 55,740 5,448,759 39,134

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Domestic claims of other financial entities grew 9%

By Bianca Cuaresma

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) reported that the domestic claims of “other financial corporations,” or OFCs, grew by 9 percent in the first quarter of the year.

Based on preliminary data by the survey, claims by OFCs—various financial entities such as insurance and pension funds, broker dealers, securities investment trusts, government financial institutions and finance companies—hit P6.8 trillion in the first three months of the year, up from the P6.5 trillion in the same quarter last year. The BSP attributed the increase

mainly to the rise in the claims on the private sector and depository corporations (DCs) as well as the sector’s net claims on central government (CG). The OFC survey is an analytical gauge that provides a comprehensive measure of the claims or assets and liabilities of OFCs in the Philippines. The preliminary OFC survey covers data sourced from individual fi-

nancial statements from 117 private and public insurance companies, 25 holding companies, 6 government financial institutions, 5 investment companies and 2 other financial intermediaries except insurance. It also includes consolidated financial statements from 27 trust institutions, 3 trust corporations, 18 financing companies, 13 securities dealers/brokers, a lending investor, 4 Authorized Agent Banks (AAB) foreign exchange corporations, 11 investment houses, 1,013 pawnshops, 5 credit card companies and an offshore banking unit. Claims on the private sector grew by 12.8 percent during the period to P3.5 trillion from P3.1 trillion in the same period last year. The BSP said the rise was due to higher investments by OFCs in equity and debt securities issued by private nonfinancial corporations. Claims on DCs expanded by 9.5 percent from P1.6 trillion in the first quarter

of last year to P1.7 trillion on account of OFCs’ higher holdings of bank-issued debt securities and increased deposits. Moreover, net claims on the central government rose by 0.8 percent from the previous year’s level of P1.5 trillion to P1.6 trillion in the first quarter of this year. “This slight upturn may be attributed to the drop in the liabilities of OFCs to the CG as well as the increase in the sector’s holdings of debt securities issued by the central government,” the BSP said. Meanwhile, the net foreign assets (NFA) of OFCs rose by 42.6 percent to P156.2 billion in the first quarter from P109.5 billion in the same quarter last year. “The growth was brought about by the increase in OFCs’ claims on nonresidents, which were mostly in the form of investments in debt and equity securities and insurance technical reserves,” the BSP said.

Unionbank launches all-in-1 online payment platform

NION Bank of the Philippines on Friday launched an all-in-one payment acceptance hub in an effort to complete its financial and transaction toolkit the bank said would “empower” local micro-scale, smallscale and medium-scale enterprises (MSMEs) amid the pandemic. Unionbank launched via online “an integrated, all-in-one payment facility” it calls “Upay,” which allows users to send payment requests and collect payments. The bank said its gateway also provides a checkout facility and accepts all modes of payment— from fund transfer, over the counter payments, e-wallets, debit cards to credit cards—”enabling them to complete the transaction at the point of sale.” Unionbank’s share price closed P76.70 per share last Friday, up by P0.20 from its previous close. Friday’s closing price already nears its 53-week high of P78 per share.

Earnings

THE Aboitiz-led bank reported last week that its January-June earnings jumped by 94 percent to P8.3 billion year-on-year, translating to return on equity of 15.9 percent. Total revenues improved by 16 percent to P25.5 billion for the period. Net interest income rose by 7 percent to P14.8 billion on the back of better net interest margins. Non-interest income, meanwhile, grew by 33 percent to P10.7 billion, thanks to robust trading gains and higher foreign exchange income and fees. The listed bank downgraded its loan loss provisions by 56 percent to P3.1 billion in the first half amid stabilizing non-performing loans (NPL). As of end-June, its NPL ratio slowed down to 4.7 percent from 5.1 percent in year-end 2020.

Purpose

UnionBank Vice President and

SME Segment Head Jose Paulo R. Soliman said during the online news briefing the new platform is in line with the bank ’s “main purpose [which is] to empower MSMEs to uplift their businesses and enable inclusive prosperity by extending products that go beyond traditional banking services.” “We also believe that in order to achieve this, our organization had to shift and pivot as well by educating them on the use of concrete solutions that will help keep their businesses afloat in the now normal,” Soliman added. On July 15, the Bangko Sentral ng Pilipinas approved the application of UnionBank to establish a digital bank called Union Bank Digital.

Application

LAST January, Unionbank launched an MSME business banking app to provide a single

platform that allows access and management of financial needs for small businesses in the country. With its latest product offering, UnionBank completes its portfolio of comprehensive products and services catering to the banking needs of the MSME sector. “MSMEs are the backbone of the Philippine economy and their success is crucial especially amid challenging instances like the current pandemic,” Unionbank Executive Vice President and Chief Financial Inclusive Executive Manuel G. Santiago said. “That being said, we want to make sure that every MSME goes to us for their digital and financial needs because we believe that we always come prepared with the right solution and answer for them when they do,” Santiago added. Bianca Cuaresma and Tyrone Jasper Piad

Perspectives Redesigning services using timely customer data, analytics and insights

OCAL governments, as noted, have opportunities to change how they work using technology. Better personalization, effective identity management, integrated front, middle and back offices and a more flexible workforce are among the rewards for those who do. The overarching goal should include a sustained focus on designing and implementing an operating model that is truly informed by the customer’s needs in order to provide the digital services and capabilities— the processes, systems, connections and data—that will help optimize how government functions for each of its constituents and stakeholders. We believe that this requires today’s organizations to look at their services from a value-chain perspective—ideally through the ‘eyes of the customer’—rather than from a traditional siloed or departmental perspective that is clearly being rendered obsolete in the digital era. Modern technology and data infrastructure can unlock powerful new capabilities to provide an end-toend view of the government ecosystem. At the same time, analytics across key data points will help drive timely and informed decisions across the spectrum of public needs and related interactions—asset placement, service requirements, customer feedback, budget priori-

tization, communications, event management, emergency services and beyond. Being a data-led organization can help ensure that local authorities provide, in exciting new ways, what their customers and stakeholders require. Local government organizations possess very diverse and rich data sources compared to most sectors and organizations, but typically demonstrate limited insights into what to do with their abundant data. Many are overly purist in how they use data, often lacking trust in the data’s quality or integrity. Concerns can be resolved through validation capabilities that check data quality and improve it as needed. Implementing a robust data-management approach is key to cleansing, transforming validating and enriching data as required. Forrester Consulting research commissioned by KPMG found enthusiasm for doing better in this area, with local authorities putting ‘insight-driven strategies and action’ at the top of eight choices for the most important investment areas supporting customer strategy over the next year. The sector can take advantage of existing models for managing data and analytics. One is to collect, correct, curate (make data workable and safe to use), question (carry out

queries on the data), compute (carry out analytics), communicate (deliver results effectively) and then conclude by taking decisions based on those results.

Joining the dots across databases

ANOTHER issue is that data is often held in dozens or even hundreds of systems within a single local government. There is an opportunity to consolidate some of these and link data on people and organizations using a combined integration platform and master data-management model. By joining various data points, local authorities can proactively reach out to communities and provide customers with friendly and timely reminders. For instance, data on children’s dates of birth can be used to invite parents to apply for school enrollment at the appropriate time. While there are privacy concerns and regulations about sharing data, many people assume that local authorities already have a single view of them. Many people’s lives are complex and local authority organizations can helpfully do some of the linking within the limits of data protection laws. That said, just 38 percent of local government organizations surveyed believe they are effectively curating a wide variety of data that will provide them with a ‘360-degree view’ of their

customers, according to Forrester Consulting research commissioned by KPMG. Aside from technology and data, redesigning services around customers and their needs also involves changes in language and practices. Some of this means replacing local government jargon such as ‘I need an adult social-care assessment’ with real-life language like ‘I need help getting dressed and cooking meals.’ It can also mean changing the way the organization is structured. The excerpt was taken from the KPMG report entitled “The future of local government.” © 2021 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent member-firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. KPMG in the Philippines recently gathered industry tech leaders as well as experts in the fields of audit and assurance, tax, and advisory. The 4-day Innovation Summit spurred exciting conversations and exchange of ideas from attendees across different industries and expertise. Be inspired to innovate and keep track of the latest trends by watching the recorded sessions here: https://bit.ly/2UMi078. As a recognized Center for Excellence for data, analytics, cybersecurity, regulatory-driven transformation, intelligent automation and emerging technologies, KPMG in the Philippines’s Lighthouse Group is here to successfully navigate organizations’ transformation journeys. Visit https://bit.ly/3zawwEJ to know more.

Editor: Dennis D. Estopace • Monday, August 2, 2021

PHL still one of world’s most congested–WB By Cai U. Ordinario @caiordinario

HE Philippines remains one of the most congested worldwide based on traffic and difficulties in land registration, according to the World Bank. In the first report of its kind titled “Pancakes to Pyramids: City Form to Promote Sustainable Growth,” World Bank said the Philippine capital is one of the world’s 10-most congested cities. The World Bank cited data from the Tom-Tom Index which ranked the Philippines the second-most congested city in the world in 2019 and fourth-most congested in 2020. In 2019, the congestion level of Manila is 71 percent while in 2020 the city was 53-percent congested. “Many developing country cities today struggle with the high road congestion and commuting costs— in time and money—that result from poor transport infrastructure and limited public transit options. Such congestion impedes the separation of residence from workplace, limiting cities’ spatial expansion along with their economic growth and productivity,” the International Bank for Reconstruction and Development said. Further, the World Bank noted that developing countries like Burkina Faso and the Philippines have not invested sufficiently in land registration. With this, the Washingtonbased lender said half the population in these countries expressed fears of being forced out of their homes against their will in the coming five years. “Wherever land markets do not function well, urban land tends to be underutilized. Prices for central locations are likely to be too high. Land in those locations may go unused, or it may be underdeveloped with low floor space or low built-up area,” the world’s largest multilateral lender said. “To enable these cities’ future transformation into dense and liv-

able urban areas, the first prerequisite is to improve access to land,” it added. In order to ensure the sustainability and livability of cities, the World Bank said city leaders should “plan and prepare for urban growth,” including horizontal growth that is happening at the edge of these cities. The World Bank said horizontal growth is inevitable for most cities. People will continue to migrate to urban areas for opportunities and a better quality of life, so it is crucial for cities to plan for this trend. Local leaders must also put in place flexible regulations for urban redevelopment. This means adapting to demand and supply conditions as well as conserving “cultural and natural amenities.” Cities, the World Bank said, should also invest in networked infrastructure which includes roads and transit arteries between the city center and periphery. “Cities are at the frontier of development; they are where people go to chase their dreams of a better life for themselves and their families,” said Juergen Voegele, Vice President for Sustainable Development, World Bank. “This report helps us understand why a city grows outward, inward or up. As we support countries with their Covid-19 recovery efforts, this will also help us reflect on what makes a city livable and remind us that wellplanned urban growth is good for both people and the planet,” he added. Today, the World Bank said, around 55 percent of the world lives in urban areas. By 2050, this number is projected to surpass two-thirds of the global population, with much of the new urbanization happening in Sub-Saharan Africa and South Asia. While such growth signals opportunities and better livelihoods for millions of people, it also puts immense strain on cities, especially in countries that contend with low incomes and weak institutional and fiscal capabilities.

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Should Your Company Provide Mental Health Apps to Employees?

By John Torous & Elena Rodriguez-Villa

Our research team at the division of digital psychiatry at Beth Israel Deaconess Medical Center regularly fields questions related to digital mental health and digital mental health apps. Here are three of the most common questions and our answers, based on our experiences in clinical care, clinical research studies and industry analysis.

1. Should my company offer access to mental health apps?

The best thing you can do for your employees is to offer them robust health care coverage at a reasonable price. This coverage should include comprehensive mental health care that makes face-to-face therapy affordable and accessible. A mental health app on its own is not an equal substitute. That’s because to date, there isn’t evidence that self-help apps are as effective as therapy or medication in treating mental illness. But they may be able to help some people better cope with stress and symptoms related to anxiety or depression. Consequently, mental health apps should only be used to complement therapy and other forms of self-care, such as exercise, a healthy diet and sleep. Furthermore, apps alone will not solve mental health problems if there are underlying workplace causes related to a toxic culture, abuse, and so on. Evaluating the usefulness of an app can also be challenging.

While we are seeing a rise in published studies, the science behind the apps that employers offer employees is still limited. Indeed, we have found that the majority of commercially available apps make claims related to mental health that they cannot back up with scientific evidence. HR managers must decide—based on their budget and their workforce’s unique set of needs—whether the benefits of easy access and low cost afforded by mental health apps are compelling enough without rigorous research validating their efficacy.

2. What is the best app I can offer my employees to help them manage stress or anxiety?

While apps themselves are unable to treat a mental health condition, they can offer employees access to new tools, skills and resources that may help them manage their feelings. There are hundreds of apps offering immediate access to mindfulness exercises, mood tracking, mental health education, specific therapy skills and more. Each can potentially be useful in reducing stress, negative thoughts or even cravings related to addictions. But we don’t think there is a single best mental health app for everyone and recommend that HR managers seek apps that can address employees’ specific needs. We also caution against evaluating apps on the basis of the number of times they’ve been downloaded, their star ratings or the way they are advertised. While a handful

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hanks to the pandemic, there is heightened interest in new options for preventing and treating anxiety, depression and other psychiatric illnesses. In particular, human resources managers are increasingly looking for ways to support their employees.

of apps have emerged as the most popular and well-known, these are not always the most effective tools. HR managers should look deeper and ask tougher questions: What in the workplace may be contributing to stress or anxiety? What does this mean for the mental health of employees, and what resources will they need to cope? If employees have variable hours, then an app that primes users for sleep might be beneficial. If burnout is a concern, making conversations with licensed therapists available to employees might be more important.

3. How do I evaluate the economic impact of a digital mental health product?

We know that the burden of mental health is costly, and that preventing and treating mental illness can be an effective solution. Many websites for mental health apps make claims about return on investment and savings that

are designed to attract HR managers. But while there aren’t definitive numbers yet that indicate the cost-effectiveness of digital mental health tools, we advise HR managers to consider four types of data to estimate potential savings. First, managers should estimate the cost due to the conditions per employee (e.g., lost productivity). Second, managers should request engagement data to learn the average percentage of users who remain active on the app after two weeks. This information is seldom publicly available, but it’s critical: Research suggests that average engagement rates may be as low as 5% after two weeks. Third, managers should ask the company offering the app for estimates of the platform’s positive impact on mental health in terms of symptom reduction. Fourth, managers should seek data on how likely the app is to have a sustained effect on the employees' well-being going forward. Multiplying these four numbers

together will give managers an estimate of the potential cost benefit of an app per employee over one year. For example, $5,000 of lost productivity times a 25% reduction in depression scores times a threemonth duration of effect (25% of a year) equals approximately $312 dollars per year. But if engagement is 5%, then multiplying $312 by 5% yields a value of approximately $16. We offer more details of the model and sample calculations in this published paper. Through the process of asking these questions and gathering relevant data, managers are simultaneously learning about their employees needs and how the digital mental health product may or may not help them. While we have not yet seen apps offering a satisfaction or performance guarantee, managers should demand bench marks for results and hold companies responsible for delivering on them. The best apps will not be afraid to sell themselves through their results.

As the space matures and companies merge, HR managers may soon be able to select customized app bundles and offer employers a suite of digital tools. Decisions around digital mental health products for employees should be based not on marketing or their alleged popularity but on the evidence, engagement and the types of services associated with the product. Except for telehealth apps offering a synchronous (i.e., video or phone call) connection to a licensed therapist or psychiatrist, they should be used only to augment, not replace, evidence-based care. And when choosing these digital products, HR managers should strive to identify their employees’ specific needs and find the offerings that can best address them. John Torous is director of the division of digital psychiatry at Beth Israel Deaconess Medical Center, where Elena Rodriguez-Villa leads global research.

How to have tough conversations about returning to the office

By Liane Davey

re you dreading the conversations you'll have to have with your team about returning to the office? Or maybe you’re already back and need to tell one of your direct reports that your agreed-upon approach isn’t working. Fostering a safe and constructive dialogue about the re-entry can be challenging. Ironically, some of the mistakes you might make will stem from your desire to be a kind and caring manager. Below, we discuss how to make sure you are approaching your employees the right way. First, you will have to make sure you are clear on the organization’s rules. Is there an official policy on the number of days employees are required to spend in the office? Are flexible schedules allowed? You don’t want to run afoul of the company’s official guidelines by mistake, so start there before talking to your own team. Second, don’t get too wrapped up in finding a solution that everyone sees as fair. Fairness is a tricky business, because different jobs require different arrangements. Consider each person’s

role and how those responsibilities suit different approaches. Administrative assistants might need to be in the office to accomplish a majority of their tasks, whereas proposal writers could do the lion’s share of their work from anywhere. Third, it’s important to consider which working arrangement is in the best interest of the team. How does one person’s role interact with those of others in the group? What return-to-work plan would be in the best interests of supporting collaboration, encouraging camaraderie and fostering the positive culture you’re looking for? As a manager, you’re not just responsible for developing strong individuals—you’re responsible for the strength of your team. To help you coordinate the work of your team members, develop a set of guiding principles that each individual's working arrangement must work within. You can use these principles to set the boundaries as to what’s important to you as the leader, while also leaving room for people to create personalized plans that work for them. For example, you might put forth a guiding principle that “The

customer comes first.” That could mean that every proposed working arrangement will be evaluated first based on its impact on customers. You could establish a rule that “Time together matters,” leading to an agreement that on one day every week everyone on the team will be in the office at the same time. Once you are clear on your principles, share them with the team and schedule a time to speak with each person. In preparation, ask your employees to think about what’s important to them and what some options for their personal retur n-to-the-office ar rangement might be. This heads-up is important because you want team members to feel prepared to communicate their wishes effectively. Don’t catch people off guard. When you meet, start by asking your employees if they have any questions about the guiding principles. Be clear about what’s cast in stone and where there are opportunities for creative solutions. Next, ask individuals to share their version of a positive working arrangement. Then work toward a solution that satisfies everyone on the team. Remember to be as flex-

ible as possible. For example, if one of the administrative assistants would really like to work from home sometimes, maybe there’s a way to form a team of assistants who cover for each other on office tasks so that each could have one or two days per week at home to work through emails and other tasks that could be done more efficiently without the interruptions of the office. Be creative. Embrace the art of the possible. Once you have found a solution that seems workable, agree on a date when you will revisit the plan. For example, you might decide on a quick check-in after the first couple of weeks and a formal evaluation after six weeks. That way, you can relax knowing that you will do everything in your control to make the plan work, but that there’s a chance to alter it if it’s not working. As the agreed-upon date nears, ask your employees to consider their current working arrangement and to reflect on any issues or concerns with the plan and its implementation. Ask people to think about your commitments and behavior as well. Prepare your own notes for the evaluation in

the same way. During the check-in, as you work through your respective reflections on the experiment so far, focus first on issues with the plan itself, rather than with the implementation. Share any criteria or considerations you hadn’t thought of when you formulated the plan and work through the concerns until you have a new option to try. Remember to be encouraging. This is new territory, and you shouldn’t be surprised if the first solution doesn’t end up being perfect. Keep iterating until you have the best solution for the organization, the team and the individual. Again, agree in advance on when you will next revisit the arrangements. If the issue is not with the arrangement, but instead with how one or both of you failed to live up to it, you need to acknowledge that. It’s best for you to go first so you can model openness to feedback. One of my favorite ways to solicit difficult feedback is asking, “What did you love about how I managed this arrangement and what do you wish I had done differently?” For some reason, asking people what they wish was true softens the

language enough for them to be candid about what they would like to be different. Finally, if an employee commits to a return-to-work plan but doesn't stick to it, that’s a performance management issue. Do as you would with any performance issue. Clarify what your expectations were. Give feedback about the behavior you observed. Share the implications of the behavior on the work, the team or on yourself. Then ask what the person will do differently from now on. If the problem persists, you might need to reduce the latitude you’re willing to allow that person. The only thing certain about the return to work is that there will be a lot of uncertainty. Some people are more than eager to return, others are dreading it and many are ambivalent. Engaging in conversation on the subject calls for a little more preparation than is normal. The investment will be worth it, because you’ll be more clear, more confident and more compassionate when the right time comes. Liane Davey is a team effectiveness adviser and professional speaker.

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Monday, August 2, 2021

B6 Monday, August 2, 2021

Lucena LGU‘s offsite vaccination kicks off Security Bank honors Filipinas through the Bravo Empowered Women Awards

THE 2021 BRAVO EMPOWERED WOMEN AWARDEES ARE (TOP PHOTO), FROM LEFT: Maria Carolina Rodriguez-Dawonlay for Arts, Culture & Heritage, Yvette Marie Celi-Punzalan for Business, Reggie Aspiras for Culinary Arts, Dr. Emily Miralles-Arangote for Education, (bottom) Michelle Krystle Dy-Ong for Media & Public Affairs, Dr. Pauline Ferraris Convocar for Science & Technology, Dr. Angelita Sievert-Fernandez for Social Services, and Meri Ann Geli Bulaong for Sports.

ECURITY Bank Corporation (SBC), in partnership with Zonta Club of Makati & Environs, paid tribute to Filipinas across different walks of life through the fourth Bravo Empowered Women Awards, which was held virtually for the first time on July 29, 2021. The Bravo Empowered Women Awards recognizes female trailblazers who have achieved success in their careers and personal advocacies. The distinctions are given to Filipinas who drive social change in the country and actively work to uplift the lives of the less fortunate. “Oftentimes, the role of women in recovery, peace and communitybuilding are overlooked, much like

their roles in the household or the workplace. Through initiatives like the Bravo Empowered Women Awards, women are not just acknowledged but celebrated and brought to the forefront. Thank you, Zonta, for providing the platform to amplify the invaluable work of these amazing women, which is integral to our economic and social progress,” says President and CEO of Security Bank, Sanjiv Vohra. The awardees for this year’s Bravo Empowered Women Awards are Yvette Marie Celi-Punzalan for Business, Dr. Pauline Ferraris Convocar for Science & Technology, Meri Ann Geli Bulaong for Sports, Michelle Krystle Dy-Ong for Media & Public Affairs, Dr. Emily Miralles-Arangote for Education, Maria

Carolina Rodriguez-Dawonlay for Arts, Culture & Heritage, Dr. Angelita Sievert-Fernandez for Social Services, and Reggie Aspiras for Culinary Arts. Olympic gold medalist, Hidilyn Diaz, was also feted by the Bravo Awards for her excellence in weightlifting, which allowed the Philippines to receive its first gold medal. The Bravo awards recognized Diaz for her strength, courage, resilience, and heart as a Filipina. The awardees are recognized for their various advocacies such as environmental protection, assistance for sexual abuse victims and the fight against online trafficking, mental health, disaster recovery, pandemic assistance for front-liners, women’s reintegration into society, and activism against gender-based violence. Former Department of Foreign Affairs Secretary and Ambassador Delia Albert, who serves as Chair of the Bravo Board of Judges, discussed her Bravo Empowered Women Awards experience during the event. “The Board recognized not only the successful practice of the nominees in their respective professions but above all, the dedication and passion in serving the community that the judges unanimously agreed upon. Like the other nominees, the winners are sterling examples of strong-willed women, truly selfless, hard-working and certainly catalysts for change. They all made us proud as Filipino women,” says Delia Albert. The Bravo Empowered Women Awards is aligned with Security Bank’s mission to enrich lives, empower businesses, and build communities. To know more about Security Bank’s advocacies and latest news, visit www. securitybank.com/news or www.facebook. com/SecurityBank.

Preacher and financial advisor Bo Sanchez shares how others can financially prepare amid the pandemic

HE Philippines has already logged over 1.4 million cases of COVID-19 in the country, and daily records are still in the high thousands. With new variants being detected in the past months, Filipinos are called to take all necessary precautions not only for their health, but also for the unexpected financial burden it will impose on families. Preacher and wellknown financial advisor Bo Sanchez knows first-hand the toll medical expenses could take when he caught the virus earlier this year. “During good times, it’s easy to pretend that we’re okay financially, because money flows easily and major financial mistakes are covered up by good cash flow. But crisis is brutal – it separates the wise from the foolish. When money stops flowing, we realize how ill-prepared we are to meet our needs,” Sanchez, now recovered, stated. Sanchez shared in one of his vlogs the financial challenges he encountered when he was sick. While he was able to save on massive fees by receiving treatment from his own home and using a secondhand oxygen concentrator, costs for medicine and other necessities still continued to pile up. “Seeing my expenses were very real. It broke my heart when I realized how difficult it would be for others, especially those who got hospitalized,” he expressed. “I had an emergency fund, built after many years of investing and saving, but I knew that many didn’t. So I really believe GInsure is a gift. [It] has solved two of the biggest obstacles: affordability and accessibility, and I’m very happy that this is now available to many people.” GInsure Cash for Dengue Cost with Free COVID-19 Coverage (CFDC)

RONALDO Jaca (seated) receives Johnson & Johnson's Janssen COVID-19 vaccine administered by Charmaine Palma from DOH Region-4A at SM City Lucena. Present at ceremonial vaccination were, from left: City Administrator Anacleto Alcala Jr., Mayor Roderick Alcala, City Health Officer Dra. Jocelyn Benitez-Chua, Exec. Asst. Mark Alcala, Councilor Baste Brizuela and Region 4A Dev‘t Management Officer Richie Villasanta.

UCENA City Mayor Roderick ‘Dondon’ Alcala takes on the challenge from DOH Region 4A’s Development Management Officer Ritchie Villasanta of inoculating 17,500 residents in a week's time. The challenge stemmed from the recent shipment of Johnson & Johnson’s Janssen vaccine the city received for the week. “We thank Ma‘am Villasanta for her effort, resulting to the shipment of 6,000 initial J & J vaccines, followed by 17,500 additional vaccines,” Alcala said. He added he's confident that the 23,500

vaccines would be given off in a week because he receives text messages from his fellow Lucenahins asking when they will be inoculated. He also expressed optimism the city government will be given additional vaccines in the coming weeks to speed up the people’s going back to normal life. The mayor thanked SM Lucena management for providing the venue as a vaccination site, targeting more than 6,000 vaccinnees, mostly coming from the mall vicinity, in the 3-day event in the mall.

Slip provides safe and secure community selling

HERE’S now an easier and safer way to buy, sell, and connect within a community. An all-in-one community app, Slip lets users interact with friends and neighbors, explore new hobbies in their area, and engage in community selling with just a few clicks. Through Slip, new brands, small businesses, thrift stores, physical communities, and hobby groups are provided an avenue for building online presence and fostering a growing community. Users can either sell their items within a community that share the same interest or sell at a larger scale through the Slip Public Marketplace. Slip’s user-friendly interface allows users to buy directly from their peers and transact instantly via credit card, GCash, PayMaya, and even directly debit from their UnionBank, BPI, or BDO accounts.

Aside from the usual chat, comment, and like features, Slip lets buyers put a claim on an item through its Mine feature. To make it more interactive, users can sell on livestream and participate in discussions via Slip Stream. The social community platform is safe and secure, placing emphasis on security features such as real-time photo as well as QR code receipts and in-chat payment confirmation. Users can also keep tabs on their sold and purchased items under the Transaction History. To further enhance user experience and meet the growing demands of digitally connected communities, Slip will roll out features that will allow users to book delivery services, showcase their skills and post freelance opportunities through Slip Gig, load their Slip Wallet, and pay bills. Visit the Google Play Store and Apple App Store to download Slip Communities.

CCP donates books to Ormoc City High School

PREACHER and financial advisor Bo Sanchez. Photo courtesy of his YouTube channel. is an affordable and accessible insurance product by digital wallet service provider GCash, powered by mobile-first insurance provider Singlife. It can help cover COVID-19 and/or Dengue costs for up to almost half a million, and the pocket-friendly protection costs as low as less than PHP 1 a day. GInsure CFDC can also be easily availed using the GCash app, with the entire application process and all approvals done within. Today, Sanchez continues to teach and inspire others virtually through his YouTube videos in hopes of helping improve the financial situation of Filipinos. He generously gives advice on handling finances better and protecting everyone’s financial future – a topic that is all the more relevant now in the middle of a health and financial crisis. “I know a lot of people who have no choice but to go to work every day and so [GInsure] is a great back up plan. At least the financial challenge is already cared for,” he mentioned in his vlog. “A lot of people think that they will never have COVID-19

or that if they’re going to have [it, they will be] asymptomatic. I will recommend that you do not become overconfident – COVID-19 can hit anyone.” With the unpredictability brought by the pandemic, GInsure CFDC brings peace of mind by securing the financial future of Filipinos and even provides the possibility of extending the insurance and protection to immediate family members. Especially for those who leave their homes for work and risk exposure to the outbreak, GInsure CFDC can be a back-up plan to care for unexpected COVID-19-related financial challenges. This affordable insurance option can be availed for as low as PHP 300 per year – with coverage of up to PHP 140,500. Varying coverage levels gives users the option to have coverage for up to PHP 421,500. For more information on GInsure CFDC, head over to: https://help.gcash. com/hc/en-us/articles/900006391263Everything-you-need-to-know-about-Cashfor-Dengue-costs.

HE Cultural Center of the Philippines (CCP) donated a variety of publications to Ormoc City Senior High School. Last June 2021, the books were successfully delivered to Ormoc City Senior High School located in Barangay Don Felipe Larrazabal in Leyte with the assistance and support of the DILG ORMOC Local Governance Resource Center through Mr. Jean Redi T. Briones. The reading materials given consisted of CCP’s Posterity book, copy of Virgin Labfest

Book 3, and various editions of the Ani literary journal. The school, through Teacher Java Jemmar de Asis, made an appeal to the CCP requesting for any learning resources such as books, video materials containing lessons on dance, public speaking, literature, and sciences. Ormoc City Senior High School was confronted with the immense challenges brought by the ongoing pandemic, particularly the lack of reliable learning materials needed to help in improving the school teachers’ lessons.

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ACHIEVE A YOUTHFUL GLOW COLLAGEN-BASED products provide intense moisturization and hydration which keeps the skin younger-looking and helps prevent premature aging. As a sought-after beauty and skin-care ingredient, collagen is proven to help achieve lasting radiant skin. Collagen by Watsons (www.facebook.com/ WatsonsPH) is a collagen-infused skin-care brand for the face and body. There are many products to choose from, which are all affordable, effective and full of benefits. The Collagen by Watsons Moisturizing and Firming range is ideal for those who are targeting dry and loose skin concerns, as the ingredients replenishes skin moisture and improves skin elastically, resulting in moisturized skin and a radiant complexion. This range is a best-seller at Watsons and has been upgraded with Tri-Collagen Complex and Snail Secretion Filtrate, making lasting radiant skin even more achievable. The Collagen by Watsons White Regeneration range is the perfect fit for those who want to combat dullness and dark spots to achieve a luminous and even skin tone. Better still, your skin will definitely look more luminous and crystal clear, very much like the glass skin effect that you see in your favorite Korean actress. That’s because this round-the-clock whitening solution is formulated with Aura Glow Complex which helps delay skin pigmentation. Collagen by Watsons Cosmetics has a unique skin care plus makeup feature to achieve a “no makeup look” for virtual meetings and parties. Currently, the shades offered feature soft to light tones, and they all contain ingredients that nourish your skin and give it a dewy glow as it sets.

COLLAGEN by Watsons Cosmetics Oil Serum Liquid Foundation is made with collagen essence and eight-plant globally sourced essential oils to deeply nourish the skin and give it a silky and smooth texture. Also worth a try is the EE Water Blend Cream, which contains a nourishing Triple Collagen that gives off a silky-smooth texture that glides perfectly over the skin for a natural, radiant and luminous look. GENTLE Eye and Lip Makeup Remover

THE Silky Powder Foundation provides light to medium coverage that conceals flaws and evens out skin. Infused with tri-collagen, its silk-like texture allows for a light and powdery finish.

Editor: Gerard S. Ramos

• Monday, August 2, 2021

Fashion designers in film

WILL have to read my copy of The House of Gucci: A Sensational Story of Murder, Madness, Glamour and Greed (2001) by Sara Gay Forden before its movie version, House of Gucci, gets its theatrical release. And I will have to watch The Assassination of Gianni Versace: American Crime Story—I’ve read Vulgar Favors: The Assassination of Gianni Versace (1999) by Maureen Orth—now that murder is in fashion. It’s ECQ Season 3, so I might get to doing both. The Internet went agog when Lady Gaga dropped the posters for House of Gucci, where she plays Patrizia Reggiani, the Italian socialite who orchestrated the March 1995 murder of her ex-husband Maurizio Gucci (Adam Driver, the face of the Burberry Hero scent), the grandson of Gucci founder Guccio Gucci. She served 18 years in jail, out of a reduced 26-year sentence. The Oscar-bait film, which coincides with the centennial of the luxury brand, also features Oscar winners Jeremy Irons as Rodolfo Gucci, Maurizio’s father; Aldo Gucci, his uncle; and Jared Leto as Paolo Gucci, his bankrupt cousin; and nominee Salma Hayek as Giuseppina “Pina” Auriemma, the clairvoyant who conspired with Patrizia. Reggiani (“I would rather weep in a Rolls-Royce than be happy on a bicycle.”) is unimpressed. “I am rather annoyed at the fact that Lady Gaga is playing me in the new Ridley Scott film without having had the consideration and sensibility to come and meet me,” she told Agenzia Nazionale Stampa Associata. Angelina Jolie and Leonardo DiCaprio were previously attached to the film, but I think they’re too beautiful to play Patrizia and Maurizio. The cast don’t resemble their characters but at least Gaga and Al Pacino (as Aldo Gucci) have Italian heritage. Leto, whose stunning transformation might win the film a hair and makeup Oscar, has Cajun ancestry. Perhaps Paul Giammati wasn’t asked and Raoul Bova is too pretty? Robert De Niro (Italian stock) was cast as Rodolfo before the British Jeremy Irons took over. The Italian Monica Bellucci was eyed for the Auriemma role, which went to the Mexican Hayek (who’s married to current Gucci owner François-Henri Pinault). Would it have pleased the Guccis if the cast was all-Italian? Tom Ford, one-time Gucci designer, is portrayed by Reeves Carney. Since there’s no photo release yet, we don’t know if there’s any resemblance between the two. The most uncanny likeness is of Venezuelan actor Edgar Ramirez and Gianni Versace in the bio series. Not so much Donatella and the Spanish Penelope Cruz. The Italian fashion powerhouse was also unhappy with their cinematic treatment, which dwelt more on Gianni’s Filipino-American serial killer Andrew Cunanan (Fil-Am Darren Criss). The French seem to have the flair for casting their own. Ingenue Audrey Tatou, in the 2009 biographical drama film Coco Before Chanel (Coco avant Chanel), was captivating as Gabrielle “Coco” Chanel before she was the byword in French fashion. In 2014, Gaspard Ulliel (Saint Laurent) and Pierre Niney (Yves Saint Laurent, where Karl Lagerfeld was played by Nikolai Kinski) both portrayed the legendary haute couturier. Ulliel became the face of the fragrance Bleu de Chanel while Niney won the César Award for best actor. The Scottish Ewan McGregor is nominated in the 2021 Emmys for playing the first superstar fashion

designer, the American Roy Halston Frowick in the miniseries Halston. Halston defined the 1970s with his shirtdress, kaftan and ultrasuede designs. He democratized fashion by catering to the masses, fatally so as he lost the rights to his name in the process. While real fashion designers appear as themselves in seminal fashion films, fictionalized versions are also featured prominently. In Robert Altman’s satirical comedy-drama film Prêt-à-Porter (1994), Forest Whitaker is Cy Bianco and Richard E. Grant is Cort Romney. In Ben Stiller’s comedy, Zoolander (2001), Will Ferrell is the murderous Jacobim Mugatu, John Vargas as an Italian designer, Jennifer Coolidge as an American designer, and Tony Kanal as a French designer. In the book-to-film The Devil Wears Prada (2006), Daniel Sunjata plays James Holt. My most favorite fictional fashion mogul, however, is the incomparable Edna Mode (The Incredibles, 2004 and 2018), who makes clothes for the superheroes. Fans speculate that her pint-size frame is based on Oscar winner Linda Hunt and her blunt bangs and bold, circular-framed glasses are from eight-time

Oscar winner, costume designer Edith Head. Director Brad Bird said he imagined Edna as halfGerman and half-Japanese. Bryn Imagire of the film’s art department shared that she referenced the work of Japanese designers Rei Kawakubo, Eiko Ishioka and Sacai’s Chitose Abe for Edna’s outfits in the sequel. Imagire told NYPost.com: “Rei Kawakubo has a quote...‘For something to be beautiful, it doesn’t have to be pretty.’ So I took that and started to think about Edna’s costumes not as pieces of clothing, but more as abstract sculpture.” Finally, there’s the Oscar-nominated Phantom Thread (2017), the final film of the great Daniel DayLewis. The historical and fictional drama is about Reynolds Woodcock, a rigid, fading designer in 1950s London. Day-Lewis, a Method actor, studied midcentury fashion shows, learned to sew and recreated sheath dress from scratch (as per Mental Floss). In an Entertainment Weekly interview, writer/ director Paul Thomas Anderson said, “I generally didn’t have that much knowledge or interest in the fashion world until I started finding out a little bit about a guy named Cristóbal Balenciaga.” ■

CLOCKWISE: Lady Gaga in House of Gucci; Edgar Ramirez as Gianni Versace and Penelope Cruz as Donatella Versace in The Assassination of Gianni Versace: American Crime Story; Audrey Tatou as Coco Chanel; Pierre Niney in Yves Saint Laurent; Ewan McGregor as Halston; Daniel DayLewis in Phantom Thread; Edna Mode in The Incredibles; and, Gaspard Ulliel in Saint Laurent

Probiotics and prebiotics: What is the difference?

TWO of the biggest health and wellness buzzwords today are probiotics and prebiotics. Probiotics are live microorganisms that are believed to have many health benefits. Probiotics can be found in yogurt and other fermented foods and drinks (such as kombucha), supplements and skincare products. Astrud Celina Fernandez is the person behind Wicked Moon Kombucha, a line of probiotic drinks. Wicked Moon’s kombucha comes in different flavors and each bottle is ultra pasteurized. It takes Fernandez three weeks to concoct a batch of

kombucha. She uses only organic loose leaf tea, purified water and cane sugar in her drinks. A very popular probiotic drink is Yakult, which has the Lactobacillus Shirota bacterial strain. Yogurt is also a popular choice. So what can probiotics do, healthwise and beauty-wise? Aside from improving gut health, probiotics are believed to have antiaging and anti-inflammatory benefits. It can also reportedly help strengthen the skin barrier and restore scalp health when products are applied topically. Fernandez makes her own toner, a concoction of kombucha and rose water to which she has added vitamin E and aloe vera. Among the beauty brands that have added probiotics to their products are Neogen (serum), Elemis (resurfacing pads), Tom’s of Maine (bar soap) and Aveeno (moisturizing cream).

Prebiotics, on the other hand, are nondigestible plant fibers that help friendly bacteria grow in your gut. Prebiotics can be naturally found in many foods like green vegetables, apples, leeks, onions, berries and flaxseed. Prebiotics can also be added to bread, cereal, baby food, yogurt and yogurt drinks. Pacific Synergy Food & Beverage Corp., which owns a popular purified water brand (Sip), recently sealed a partnership deal with DyDo Drinco Malaysia for exclusive distributorship of Vida C Sparkling Drink and Yobick Prebiotic yogurt drink in the Philippine market. Vida C is a sparkling drink with 1000mg vitamin C content and minimal sugar. Yobick is an authentic Japanese lowfat yogurt brand that contains prebiotics. This drink has the tartness one looks for in a yoghurt drink and a pleasingly light, refreshing flavor.

“We all know how the pandemic has driven people to live a healthier lifestyle. We see more people taking in more supplements, eating healthier food and being more active despite being locked-in at home. Yobick is a prebiotic drink that, besides boosting immune system, helps with preventing constipation, reducing cholesterol and lipid and increasing mineral absorption,” said Charles Stewart Lee, president of Pacific Synergy. Prebiotic is now being added to skin care. La Roche-Posay Lipikar Lotion Daily Repair Moisturizing Lotion contains prebiotic thermal water to soothe and hydrate skin. Virtue Topical Scalp Supplement also has prebiotic to help soothe the scalp and promote hair growth. Probiotics help to support our gut health, immune function and overall wellness. Prebiotic foods are also essential for digestive health because they nourish your beneficial microbes. Probiotics and prebiotic foods have a synergistic relationship. The belief that “a yogurt a day keeps gut problems away” has extended to the beauty industry and microbiome skin care is not just a thing with indie brands but even luxury products.

DERMALOGY Probiotics Double Action Serum is one of the many beauty products in the market that contains probiotics.

B8 Monday, August 2, 2021

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Meet 5 professionals who beat the coronavirus L

PR Matters

By Joy Lumawig-Buensalido

IKE it or not, life’s downturns convey vital lessons that even the most expensive education cannot provide. Bouncing back from such circumstances is what makes us resilient. Indeed, when a deadly virus stealthily crept into our lives last year, this resilience was tested. And so was our faith and trust in God. We faced the crisis with courage, kindness, and compassion. We joined ranks and worked together to help those we could, manifesting an unwavering faith that we can—and will—overcome this insidious enemy. Today, almost two years later, we are relieved to know that the statistics of the Department of Health, as of July 23, 2021, disclose that victims who have recovered from the virus now stand at 94.7 percent. Speaking of survivors, we interviewed five brave individuals who were infected by the virus and went through an ordeal that, we pray, we will never find ourselves in. As we ask our “battle-scarred” respondents to share their difficult experiences and their impact on their lives, we hope to imbibe the lessons contained in their narratives. I posed three questions to all our respondents, including our very own Ipra colleague, Richard Burgos. I thank each of them for giving us their very personal and helpful insights. Here are their stories in brief:

Richard Burgos

Director, Department of Science and Technology Science and Technology Information Institute

1. How did you get infected by the virus and what was your immediate reaction/response?

Most probably I caught the bug in the workplace. After one year of zero infection in the office, we had 10 or so positives as the second nationwide wave of March 2021 peaked. Three had to be hospitalized. I was one of them, with pneumonia in both lungs. My disbelief quickly morphed into acceptance and quick action. In the pandemic, the virus respects no boundaries except physical distancing, hygiene and vaccination. It is not the fittest who will survive; those who do the right thing at the right time will.

2. Describe how you handled the situation (steps you took, what you did, and how you felt during your illness).

When I developed a high fever on Saturday, March 27, I just posted “39.2” on my FB account. It opened the floodgates of care, concern, and prayers from thousands of people and created bridges to opportunities and agents, including strangers, who made it possible for me to get urgent medical attention. My military doctor neighbor learned about my condition through my post and suggested I immediately get swabbed. I had two RT-PCR swabs on Monday, with positive results on Tuesday, so he insisted I get to the hospital without delay. Again, thanks to social media, the strength of family, and the kindness of strangers, I had the best doctors and the best hospital—and I recovered in six days. All through-

out, I never felt desperate. Family, friends and faith buoyed my confidence and strength. All I needed to do was cooperate with the grace of the moment and the opportunities that were made available to me.

3. Now that you have recovered, what valuable lessons did you learn and what advice can you share with other people on how to handle the virus if they ever get it? Lesson 1: The lockdown made isolation normal but when you are sick you have to overcome physical distancing to reach out for help, especially if you live alone. Social media offers an effective channel to secure urgent assistance through crowd-sourcing. Lesson 2: Health is wealth. Never take it for granted. Lesson 3: Be ready for life’s surprises. I walked out of the hospital without having to pay a single peso. I am in awe at the myriad expressions of care and support that were extended to me, from medicines like Ivermectin and Lianhua (which I found no more use for) and votive candles and shared psalms. Lesson 4: Pay it forward. The pandemic is still raging and so many others remain at risk of catching the virus. Do your share and spread kindness and care. They are the best immunity boosters. Lesson 5: Yo u c a n n o t d o everything by yourself. Trust in the gentle nudges of the Divine Shepherd. Do your best and God will do the rest. And yes, you will meet your Creator sooner or later so be ready for the grand encounter anytime, every time.

Dr. Jomick Lumawig and Mailen Lumawig

Orthopedic Consultant The Medical City and St. Luke’s Global City I was probably an asymptomatic carrier as my wife was the first one who exhibited flu-like symptoms. After one day of experiencing parosmia or a distorted sense of smell, we decided to have her swabbed for Covid 19. When she turned positive, we immediately had the rest of the household tested. Aside from her, I and one help turned out positive for Covid 19 while our two sons and the driver tested negative. Luckily, we had no high-risk persons—because of age or comorbidities—who could be considered close contacts. We decided to isolate the ones who tested positive in our house and our two boys were quarantined for two weeks in a separate apartment. It was a blessing that the kids,16 and 18 years old, can handle living alone by themselves, with us just sending them occasional food and money electronically. Thank God, I, my wife, and our help who tested positive only had mild symptoms, experiencing occasional body malaise, cough, and colds during the quarantine period. We did not have to be confined in a hospital although I bought an oxygen tank just in case our oxygen levels deteriorated. It was a blessing, too, that I have family members and friends who are Infectious Disease specialists—I followed their advice to the letter. A few years ago, I was obese and indulged in a lot of alcohol. Now that I’ve recovered, I’m thankful that I am relatively fitter than I was before I went through the ordeal. Otherwise, I would have been

considered high-risk. I could have contracted more severe symptoms. My advice is, if and when you start having flu-like symptoms, it is important not to panic and just think about how you can have yourself tested.You must also isolate yourself immediately from the rest of the household. Always remember that an ounce of prevention is much better than a pound of cure, so wearing masks, social distancing, and staying outdoors when a small gathering is in order should be part of the “new normal.”

Marge Enriquez Freelance writer

1. I had a luncheon interview with a nonagenarian who wasn’t techie, so a video conference was not an option. Besides, he had slurred speech which would have been difficult to comprehend given our weak tech structure. Five days after our interview (Good Friday) I learned that he and his wife were taken to the hospital for Covid. On Black Saturday, I took the antigen swab test and was found positive for the virus. 2. My landlord informed my sister and recommended a doctor who was a common friend of my friend. I also informed an NGO where I normally had my daily meals. The NGO had to shut down for two weeks. Fortunately, the residents were tested negative. The NGO sent me food everyday during my selfquarantine. My sister and friends helped me with my medications. I spent the ensuing days meditating. After one week, my temperature went down to 36.3 and became stable. Medical steam inhalation helped me. Friends from overseas sent e-mail and called me, giving their support. 3. Be tough and don't allow yourself to be oppressed or put down by shamers or friends who wag their fingers at you. Shamers and judgmental people have ego problems. The public is not aware of the psychological impact of Covid. I joined a Post-Covid Recovery program at Aegle Wellness Center where I was given supplements, IV immune boost, oxygen therapy, and psychological counseling. Many of the patients there had been shamed by relatives. Believe it or not, these people who teach good manners and etiquette can be so callous or inconsiderate of the feelings of Covid and post-Covid patients. There is a whole new territory on etiquette for dealing with Covid and post-Covid patients.

PJ Rebullida

Chief Instigator Galaw Co Dance Theater Honestly, I do not know where I got Covid-19. My interactions be-

fore then had been few and limited to socially distanced meetings. None of them had Covid nor caught Covid from me. My first symptom was a mild sore throat and then I drastically became super fatigued with extreme muscle soreness. T h is happens occasiona l ly to dancers, but never this intense. This was my sign that something was wrong. Strangely, I never had fever and my senses were intact although I did have bouts of severe headaches and a long-drawnout sore throat and cough. I contacted my doctor who happens to be my brother. I isolated myself, cancelled all appointments, and booked an RT-PCR test. It was difficult. I was advised to get my test done by the 5th day of symptoms. During this time, my mind was playing tricks on me as I googled and inquired about Covid-19, wondering if I did have it or not. The moment I received my results, I felt my heart drop. It was wrenching. How, why, and what do I do? All of those questions did roller-coaster loops in my psyche. Thank God, I had an excellent support system in my family, my friends, even in my building’s staff. I only had mild symptoms and it was not the end of the world. I told myself to be smart and I would overcome the challenge just as I did those in the past. I really leaned on God. I firmly believed that He who began a good work in me will be faithful to complete it. I continued with my medications and did a lot of Breathwork and Meditation. I was in isolation for almost a month because a pesky sore throat took awhile to disappear. Cabin fever is real. I think the biggest battle beyond the physical is with the mind. And the best solution would be to ask for help from loved ones. They will come running to your side—even if not in the flesh. I am the kind who will try to solve things on my own. But that battle was one that would take a village to win. Also, Breathwork is brilliant! I strongly recommend it to everyone, whether you are dealing with Covid or not. It is a practice that fights anxiety and depression as well as gives your body an immune boost.

Milen Galang Treichler Real Estate Executive

I’M not sure how and where I got the virus. I was extra careful where I went and avoided places like beauty salons. I may have picked it up in a restaurant or even the grocery. I was working from home and I felt slightly odd. The next day, I woke up with high fever and immediately isolated myself. Then I had a test done at home. I turned out to be Covid-positive. Luckily, the rest of my family showed negative results. We had to file a report about my infection to the village administration who immediately relayed it to the barangay center. Health officials checked my condition daily. Our congressman even sent a food package! I always felt confident that I was strong enough to survive Covid. W hat I never realized, though, was the tremendous stress it caused my family who were ver y worried about me. The first three to four days, it seemed just like regular f lu. I was given an oximeter, allowing

me to monitor my oxygen level, which was always fine. My appetite was okay except I felt too tired to work. I didn’t really realize that I had lost my sense of smell and taste until I was taking my morning coffee and I suddenly didn’t like the taste. After that, I lost my appetite and had to force myself to eat so I could take my medication. My fever lasted for 17 days. I would get a severe headache and nausea. At times, my mind was foggy. I was also on all sorts of medication—for the fever, the cough, the headache, and to help me sleep. I also took vitamins and a nt i hist a m ines, etc. T his got my husband worried because if I started to feel weak, he would have to bring me to the hospital where I would be alone. I felt like a prisoner because my food would be left on a tray outside my bedroom door. I was lucky that I had friends and family who were praying for me. I did not hide my condition, but neither did I want to announce to all and sundry that I was sick. W hen I finally recovered, I started telling my friends the experience I went through. W hat do I say to people about Cov id? To be ver y careful. To please wear their masks and wash their hands carefully. Most importantly, to get vaccinated with whatever vaccine brand is available. As the doctors say: “ The best vaccine is the one in your arm.” I wouldn’t wish what I went through on my worst enemy. DR AWING from these five professionals’ individual experiences, we must remember how to deal with currently sick or recovered Covid-19 patients—and how to treat them with respect, courtesy, and compassion.

Their lessons:

n Do not show disdain for those afflicted by Covid and never assume that they were careless or did not follow health protocols. It could happen to anyone so we must show kindness and consideration rather than blame or suspicion. n If you are the patient and you receive much help and support from family, friends, and even strangers, pay it forward by showing the same kindness and concern to those who might be going through the same ordeal. n Don’t be ashamed to ask for support because it takes a village to fight this virus. n Prevention is key so exercise extreme caution and follow all government-mandated health protocols such as the use of face masks, face shields, washing your hands, and practicing social distancing when among people who are not in your “safety bubble.” n Keep yourself healthy so that when you do get infected, your immune system can fight off the virus. If you suddenly feel the onset of f lu, it is important not to panic. Have yourself tested and isolate yourself immediately. n Get vaccinated as this is the best way to build up our herd immunity against the fast-mutating virus. PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior communications professionals around the world. Joy Lumawig-Buensalido is the President and CEO of Buensalido & Associates Public Relations. PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.