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Thursday, August 18, 2022 • Editor: Angel R. Calso

editorial Do rich Pinoys want to be a little poorer?

There are almost 20 million Filipinos living in poverty in 2021, which translates to a poverty rate of 18 percent, according to the Philippine Statistics Authority. In 2018, the country’s poverty rate was estimated at 16.7 percent, which means there were 17.7 million Filipinos living below the poverty threshold four years ago.

Poor Filipinos are individuals and families whose income fall below the poverty threshold as defined by the National Economic and Development Authority. For a family of five, the minimum monthly income not to be considered poor is P12,030, or an income of P401 per day.

IBON Foundation Executive Director Sonny Africa said the country’s growing poverty rate should be blamed not only on the Covid-19 pandemic but also on government’s response to the health crisis. “The pandemic hit every country in the world, but because the lockdowns of the Philippines were too long, they were too harsh. The lack of public health measures and the overreliance on lockdowns to contain the pandemic, that caused the economy to contract,” he said in a TV interview.

“Because other countries in Southeast Asia did not have long lockdowns as the Philippines’s, their economies did not collapse as much, and did not increase poverty in the same way we did. I think that points to the government being accountable for the long lockdowns and I think they should be held accountable for the continued poverty even in 2022,” Africa added.

Despite the high inflation rate and the continuing threat posed by the pandemic, the current administration remains confident that it can achieve its target of a 9-percent poverty incidence by 2028. In a press briefing, Socioeconomic Planning Secretary Arsenio M. Balisacan said: “We can reduce poverty incidence by 5 percentage points at midterm, and another 4 percentage points by 2028. We aim to reduce poverty incidence among Filipinos to 9 percent by 2028.” (Read, “With 20 million poor Pinoys, 9% poverty goal stays,” in the

BusinessMirror, August 15, 2022).

Balisacan said the government will use the 2021 poverty data as the administration’s baseline as it pushes to undo the damage inflicted by the pandemic on the economy. He said efforts to achieve the target include resuming face-to-face classes, greater vaccine access for children and adults, and providing training opportunities for Filipinos to improve their chances of securing quality employment.

The government, he said, is working to reduce the cost of doing business, enhancing inter-industry linkages and being more aggressive in promoting the country as a key investment destination in the region. The government will also provide greater support for research and development to encourage innovation.

Some solons are proposing a more radical option to help end extreme poverty in the country. Assistant Minority Leader and Gabriela Women’s Party Rep. Arlene D. Brosas said the Marcos administration must focus on imposing wealth tax on billionaires instead of taxing digital transactions and proposing pro-big business legislations.

“Imposing at least 3 percent tax on the wealth of Forbes’ 20 richest Filipinos will yield a whopping P98.2 billion. This is 8 times the projected revenues from the proposed VAT on digital goods and services, and enough to provide P10,000 cash subsidy to 9.8 million poor Filipino families,” Brosas said.

The Makabayan bloc has refiled House Bill 258, which seeks to impose “super rich tax” on individuals with net value assets exceeding P1 billion. The bill proposes a tax of 1 percent on wealth of above P1 billion, 2 percent on wealth above P2 billion, and 3 percent on wealth over P3 billion. (Read,

“Solons weigh in on bid to tax PHL’s ‘super rich,” in the BusinessMirror, August 15, 2022).

House Committee on Ways and Means Chairman Joey Sarte Salceda of Albay, however, warned that “the moment you impose an outright wealth tax, it’s gone. And our business environment and jobs will suffer.” He added: “We can’t raise our taxes too high for capital because it’s so easy to move capital offshore. The best way to tax wealth is to tax the inefficient and dysfunctional use of land in this country.”

Rich Filipinos are in the best position to help alleviate the suffering of their poor countrymen by heeding the advice of Pope Francis: “These days there is a lot of poverty in the world, and that’s a scandal when we have so many riches and resources to give to everyone. We all have to think about how we can become a little poorer.”

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Economic data: Who you going to trust?

John Mangun OUTSIDE THE BOX

You put a pot of water on the stove, turn on the heat and wait. how can you determine if and when the water reaches the temperature to turn from liquid to gas? How is the local mall business? Count the numbers of cashiers open in the department store compared to pre-Covid. I guarantee it is fewer. You do not need the Philippine Statistics Authority for the nation’s inflation numbers. April 2019: 1 pc Chickenjoy Value Meal: P79. July 2022: 1 pc Chickenjoy Value Meal: P95.

You could put a temperature probe in the water and wait for it to send an alarm at 100°C to your Smartphone’s “Remote Temperature App.” You might personally observe to see if the water is boiling, or you could ask someone else to look at the water and tell you if it is boiling. Which of these is the most accurate?

The highest potential for a “wrong” answer is with the thermometer. Most likely we would trust this method to accurately tell us when the water boils. But the temperature probe could be faulty. Further, water boils at 100°C at sea level. In Baguio, 1,500 meters above sea level, water turns to steam at 98.5ºC. The temperature app might never reach 100°C.

Your friend might interpret “boiling” with the first little bubble, while you meant a “rolling boiling.”

The point of this silly story is that actual unbiased observation is probably the best measure of anything, and while the world often plays tricks on the senses, trusting what we hear, see, and touch might be better than relying on someone else’s interpretation even when reading the thermometer.

US President Joe Biden last Wednesday claimed that the US economy had no inflation for July. July 10, 2022: “Today, we received news that our economy had zero percent inflation in the month of July. Zero percent.”

This is the president making an unequivocal statement based on data compiled and released by the US Department of Labor’s Bureau of Labor Statistics. How could anyone argue with the President, especially when the data is released to the world?

Biden was correct. The total price of the “basket of goods” was unchanged from the month of June as “The gasoline index fell 7.7 percent in July, natural gas declined 3.6 percent, airline fares slumped 7.8 percent and prices for used cars and trucks dropped 0.4 percent.” However, the food inflation index was up 1.1 percent, coffee increased by 3.5 percent, and car insurance as up 1.3 percent from the previous month. Further, food prices were up 10.9 percent from July 2022, along with electricity prices accelerating by 15.2 percent, and total energy costs were 32.9 percent higher than in 2022.

It is probably not a good idea to have Joe Biden check your body temperature if you are sick. “Great news. Your temperature did not go up from this morning. It is still 43 degrees.”

How is the local mall business? Count the numbers of cashiers open in the department store compared to pre-Covid. I guarantee it is fewer. You do not need the Philippine Statistics Authority for the nation’s inflation numbers. April 2019: 1 pc Chickenjoy Value Meal: P79. July 2022: 1 pc Chickenjoy Value Meal: P95.

July 13, 2022: “Kitty Ussher, Chief Economist at the Institute of Chartered Accountants in England and Wales, says inflation rates are likely to come back within a manageable margin by next year, and the fundamentals of the UK economy are in better shape than many business leaders think.”

Then again, “Dogs Trust, a British animal welfare group, said petowners are increasingly unable to afford their animals as the cost-ofliving crisis bites, receiving 15,000 calls this year from owners asking about the process of giving up their dogs to be rehomed, up 54 percent from last year.”

And how is the Chinese economy doing? Watcheco, a Chinese portal for used luxury watches, said the price of second-hand Rolex Submariners has crashed by 46 percent since March. Luxury bag shops in Shanghai and Hangzhou have cut the prices of Hermès Birkin bags by 20 percent over the same period.

The Chinese government may have had no choice but to report that the quarter-on-quarter GDP fell 2.6 percent in June. Beijing officials probably all own at least a Submariner. And Joe Biden’s dog is paid for by the taxpayers.

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

US weighs EU plan to revive Iran nuclear deal abandoned by Trump

By Courtney McBride | Bloomberg Opinion

The Biden administration is weighing Iran’s response to a european union proposal aimed at reviving the 2015 international nuclear agreement, with officials on both sides of the Atlantic signaling the possibility that a deal could emerge now after more than a year of false starts.

While the US so far has refused to comment in detail on the proposal, floated by EU foreign policy chief Josep Borrell as a last-ditch effort to save the Joint Comprehensive Plan of Action, State Department spokesman Ned Price said Tuesday the big issues have been “largely settled” and that it was close to what the US was looking for.

“This is the text that the EU has put on the table that is substantially based on the deal that has been on the table for several months now,” Price said.

Administration officials say there are no plans to remove the designation of Iran’s Islamic Revolutionary Guard Corps as a foreign terrorist organization—heading off a political firestorm prompted by reports that the move was under consideration in Washington.

The US openness to the EU proposal, coupled with an Iranian response received Monday night that one European described as constructive, raised fresh hopes that Iran, the US and other signatories to the nuclear deal are close to reaching an agreement after months of tortured negotiations.

Energy markets roiled by Russia’s invasion of Ukraine have been watching closely in anticipation that hundreds of thousands of barrels of Iranian crude could come back online per day once a deal is signed. Brent oil futures fell as much as 2.8 percent in London to trade at a sixmonth low on Tuesday as traders weighed the more productive tone of the Iran talks.

With all sides refusing to give details, others preached caution. It’s still unclear why the prospects for agreement would have improved given that the terms of the EU proposal don’t differ dramatically from a February draft, said Michael Singh, a former senior director for Middle East affairs at the National Security Council.

“It’s hard to see anything that’s fundamentally changed unless things are happening behind the scenes that we just can’t perceive,” he said.

Former President Donald Trump withdrew from the nuclear deal in 2018, and Biden had made restoring it a top foreign-policy priority. But the negotiations dragged on for months, bedeviled by Iran’s continued nuclear advances, the arrival of a more hardline government in the summer of 2021 and disagreements over what to do about the many non-nuclear sanctions that the Trump administration imposed during its waning days in office.

President Joe Biden has come under intense political pressure from Republicans not to make any concessions given what they describe as its more aggressive behavior more broadly. In recent days, prosecutors charged an Iranian national with planning to kill former presidential aide John Bolton, while US officials have condemned Iranian hardliners for celebrating last Friday’s violent knife attack on writer Salman Rushdie.

EU mediators had circulated a “final” proposal for salvaging the deal last week. Iran formally submitted its response to the EU on Monday night, and an official familiar with the diplomatic efforts, who asked not to be identified given the sensitivity of the talks, said the Iranian response was constructive.

The official said Iran’s response still required study and that other parties to the nuclear talks—which include the US, China and Russia— are assessing it.

On Tuesday, an Iranian government spokesman said the US should “pay a price” if it withdraws from the deal again, a comment that suggested Iran wants guarantees that the US won’t do so.

Biden’s refusal to offer such a guarantee has been a stumbling block in the talks. The US argued that it can’t make any such promise given that Republicans will almost certainly try to scuttle the deal if they gain control of Congress later this year or the White House in 2024.

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Mexico president seen bypassing Congress to keep army in streets

By Maria Verza | The Associated Press

MEXICO CITY—Mexico’s president has begun exploring plans to sidestep Congress to hand formal control of the National Guard to the army, a move that could extend the military’s control over policing in a country with high levels of violence.

That has raised concerns because President Andrés Manuel López Obrador won approval for creating the force in 2019 by pledging in the constitution that it would be under nominal civilian control and that the army would be off the streets by 2024.

Neither the National Guard nor the military have been able to lower the insecurity in the country, however. This past week, drug cartels staged widespread arson and shooting attacks, terrifying civilians in three main northwest cities in a bold challenge to the state. On Saturday, authorities sent 300 army special forces and 50 National Guard members to the border city of Tijuana.

Still, López Obrador wants to keep soldiers involved in policing, and remove civilian control over the National Guard, whose officers and commanders are mostly soldiers, with military training and pay grades.

But the president no longer has the votes in Congress to amend the constitution and has suggested he may try to do it as a regulatory change with a simple majority in Congress or by an executive order and see if the courts will uphold that.

López Obrador warned Friday against politicizing the issue, saying the military is needed to fight Mexico’s violent drug cartels. But then he immediately politicized it himself.

“A constitutional reform would be ideal, but we have to look for ways, because they (the opposition) instead of helping us, are blocking us, there is an intent to prevent us from doing anything,” López Obrador said.

The two main opposition parties also had different positions when they were in power. They supported the army in public safety roles during their respective administrations beginning in 2006 and 2012.

When López Obrador was running for president, he called for taking the army off the streets. But being in power—and seeing homicides running at their highest sustained levels ever—apparently changed his mind.

He has relied heavily on the military not just for crime fighting. He sees the army and navy as heroic, patriotic and less corruptible, and has entrusted them with building major infrastructure projects, running airports and trains, stopping migrants and overseeing customs at seaports.

Mexico’s army has been deeply involved in policing since the start of the 2006 drug war. But its presence was always understood as temporary, a stopgap until Mexico could build trustworthy police forces.

López Obrador appears to have abandoned that plan, instead making the military and quasi-military force like the National Guard the main solution. “Their mandate has to be prolonged,” he said.

“I think the best thing is for the National Guard to be a branch of the Defense Department to give it stability over time and prevent it from being corrupted,” he said. He also wants the army and the navy to help in public safety roles beyond 2024, the current dateline established in a 2020 executive order.

The force has grown to 115,000, but almost 80 percent of its personnel were drawn from the ranks of the military.

The United Nations and human rights groups have long expressed reservations about having the military do police work. And Mexico’s Supreme Court has yet to decide on several appeals against what critics say are unconstitutional tasks given to the National Guard.

The UN Human Rights High Commissioner’s office said last week that militarizing civil institutions, such as policing, weakens democracy. Soldiers aren’t trained for that, the military by nature isn’t very open to scrutiny, it has been implicated in human rights abuses, and the presence of troops hasn’t resolved the pressing question of how to reform police, prosecutors and courts.

While López Obrador claims human rights abuses are no longer tolerated, the governmental National Human Rights Commission has received more than a thousand complaints alleging abuses by the National Guard. The agency has issued five recommendations in cases where there was evidence of excessive use of force, torture or abuse of migrants.

“The problem with using the military in civilian roles is that we don’t have any control of what goes on inside” the forces, said Ana Lorena Delgadillo, director of the civic group Foundation For Justice.

Delgadillo said that placing the National Guard under the Defense Department, despite constitutional language defining it as a civilian-commanded force, is “authoritarian,” will be challenged in court and will not help to pacify the country.

The Mexican Employers’ Association, Coparmex, said in a statement that the capabilities of state police should instead be strengthened. “It is them and the (state prosecutors’ offices) that are authorized to interact with the civilian population,” the group said.

Perhaps more to the point, the quasi-military National Guard has not been able to bring down Mexico’s stubbornly high homicide rate.

Sofía de Robina, a lawyer for the Miguel Agustín Pro Juárez Human Rights Center, said the National Guard “has not been able to decrease violence,” in part because of its military-style strategy of “occupying territory.”

While that strategy—of building barracks and conducting regular patrols—may be helpful in remote or rural areas, it has proved less useful and even drawn opposition in urban areas.

Police, who are from the towns they serve and live among the inhabitants, would be more effective, experts say. Yet widespread corruption, poor pay and threats by cartels against police officers have weakened local and state police forces.

Over 15 years of experience with the military in policing roles has shown “the falseness of the paradigm that the army was going to solve the problems,” Delgadillo said.

De Robina added that López Obrador’s latest move means trying to keep the military in policing indefinitely, “completely defying the obligation that public safety be civil” with no limits on time or strategy.

“The problem with using the military in civilian roles is that we don’t have any control of what goes on inside” the forces, said Ana Lorena Delgadillo, director of the civic group Foundation For Justice.

Opinion BusinessMirror

Thursday, August 18, 2022 A13

Precarious labor unlimited

Dr. Rene E. Ofreneo LABOREM EXERCENS

PBBM’S SONA on July 25 failed to address a number of critical issues facing the nation. As we pointed out in the last column, the most urgent is the challenge of creating quality and sustainable jobs for the majority of the labor force—the “inadequately employed.”

The inadequately employed include those without jobs (openly unemployed but looking for work), those with jobs but with limited hours of work (underemployed), the unpaid family workers, the selfemployed and micro entrepreneurs with very uncertain and limited incomes/earnings/opportunities, and the non-regular hires in the formal sector (who have no job security such as the contractuals, project hires and those without any formal employment contracts). Collectively, they constitute the overwhelming majority of the labor force. They are the nation’s working poor. They belong to the C-D-E classes who gave President Bongbong a landslide victory last May.

Can the President return the electoral favor given by the working poor by focusing all the government’s attention and energy of his administration on the creation of good, secure and sustainable jobs for them? Can his administration go beyond the populist tendency of politicians to espouse instant remedies for the maladies affecting the working poor by simply announcing and allocating paltry “ayudas” or “pantawid-buhay” that can sustain the food and income needs of an individual or family good for only one to two weeks?

The SONA failed to outline the administration’s program on job creation for the working poor. However, his Economic Planning Secretary, Arsenio Balisacan, was quoted as saying that there are three major development thrusts under the PBBM administration: re-opening of the economy; investment on human capital; and making “productive sectors” more productive. Further, he gave a very rosy growth and job forecast for the country in the next six years, with the national poverty rate (reported by PSA to be at 18.1 percent in 2021) eventually going down to a single digit of 9 percent in 2028. Balisacan even remarked that the Philippines can officially join the ranks of the world’s “upper” middleincome countries by 2024, a target that the Duterte administration also declared and yet failed to achieve.

We wish we can share the optimism of Secretary Balisacan. Records show that most of the rosy growth and job projections made by Neda at the beginning of each administration (from Marcos Sr. to Duterte) were never fulfilled. The same happened with the CGE growth-growthgrowth projections articulated by the economists who pushed for the early ratification of Philippine membership in the WTO in 1994 and for the Philippine participation in various Asean and Asean-linked free-trade agreements.

Former DA Secretary Manny Piñol, citing the country’s experience in 2016-2018, pointed out that the growth-growth-growth economics under a liberalized environment does not automatically translate into more jobs, better welfare and sustainable development, as demonstrated in the case of the failing agricultural sector. This is one reason why the farmers’ organizations in the country are united in their call for a deferment of the Philippine ratification of the Regional Comprehensive Economic Partnership Agreement and the overhaul or repeal of the ultra-liberal Rice Tariffication Law. Jobs and incomes are falling in agriculture.

To a certain extent, a similar phenomenon is happening in the country’s industrial sector, which has remained lilliputian compared to our industry-oriented Asian neighbors. Our economy has evolved into a services-led one without undergoing an industrial revolution and agricultural modernization.

However, the Philippines managed to post high growth rates in the pre-Covid years of 2010-2018. This is not due to the failing agricultural sector and stagnant industrial sector. Credit goes to the 10 million plus OFWs, who send over $35 billion a year to their families, and to the rise of an unexpected economic savior: the call center-BPO sector.

And yet, the two legs of the economy (labor migration and CC/BPO) are not enough to create good and sustainable jobs for all in an economy that has become services-oriented. Thus, the army of the inadequately employed—unemployed, underemployed, unpaid family workers, self-employed, micro entrepreneurs and the precariat in the formal labor market (casuals, contractuals, etc.) – keeps growing, a clear indicator that the economy cannot stand based on the above-cited two legs.

How many are the inadequately employed? A recent study by Professor Emily Cabegin of the University of the Philippines (“The Informal Labor Carries the Brunt of a Covid19-induced Economic Recession,” UP CIDS, 2022) asserts that “informal employment,” where most of the inadequately employed can be classified too, constitutes around 83 percent of the labor force. She gave the following ILO definition of informal employment: “Those working in informal or formal enterprises or private households whose activities are not covered or insufficiently covered by labor regulations and social protection.” As such, the informally employed “suffer from poor and unsafe working conditions, low wages, and the lack of social protection, collective representation, and access to skills development training, technology, and financial services.”

According to the statistical analysis made by Professor Cabegin, those belonging to the informal employment represent over 80 percent of the labor force. Further, she noted that the level of labor informality was fairly “stable,” at 82-83 percent in the high-growth decade of 2010-2020. This shows the correctness of Piñol’s observation: high economic growth does not automatically lead to more and better jobs and welfare for all.

So the big challenge: how will the PBBM administration reverse the ratio, or reduce the informal and unprotected segments of the labor force to 20 percent (not 80 percent) or even less?

Meanwhile, how will the Balisacan’s three-point development program work out in the next six years? First, on more investment on human capital and social protection, this is unarguably fine. But where will the debt-saddled government go to strengthen the Covid-weakened educational system, and provide social amelioration and social protection to 4/5 of the labor force and their families?

As to making the “productive sectors” more productive, this is also good. But does the good Secretary refer to the industrial and agricultural sectors, both of which have not been faring well under our liberalized and deregulated economy? In the first place, how will the PBBM administration help rebuild and transform these two weak, if not fracturing, sectors?

On the expectation that growth is bound to surge with the opening of the economy, this sounds very much like the mantra uttered by former Neda DG Karl Chua: “Bring the economy back to the old normal.” But is the old pre-Covid normal desirable? The high level of informal employment or inadequate employment tells us bolder measures, including possible restructuring of the economy, are needed.

For inquiries, please e-mail reneofreneo@ gmail.com.

Trump’s angry words spur warnings of real violence

By David Klepper | The Associated Press

WASHINGTON—A man armed with an AR-15 dies in a shootout after trying to breach FBI offices in Cincinnati. A Pennsylvania man is arrested after he posts death threats against agents on social media. In cyberspace, calls for armed uprisings and civil war grow stronger.

This could be just the beginning, federal authorities and private extremism monitors warn. A growing number of ardent Donald Trump supporters seem ready to strike back against the FBI or others who they believe go too far in investigating the former president.

Law enforcement officials across the country are warning and being warned about an increase in threats and the potential for violent attacks on federal agents or buildings in the wake of the FBI’s search of Trump’s Mar-a-Lago home.

Experts who study radicalization and online disinformation—such as Trump’s aggressive false claims about a stolen election—note that the recent increase was sparked by a legal search of Trump’s Florida home. What might happen in the event of arrests or indictments?

“When messaging reaches a certain pitch, things start to happen in the real world,” said former New Jersey Attorney General John Farmer, a onetime federal prosecutor who now directs the Eagleton Institute of Politics at Rutgers University. “And when people in positions of power and public trust start to echo extremist rhetoric, it’s even more likely that we’re going to see real-world consequences.”

Amplified by right-wing media, angry claims by Trump and his allies about the search are fanning the flames of his supporters’ distrust of the FBI—though it’s led by a Trump appointee—and the federal government in general. And at least a few of Trump’s supporters now appear to be acting on his anger.

Last week a man wearing body armor and armed with an assault rifle and a nail gun tried to breach the FBI’s Cincinnati office. He was later shot and killed by police after exchanging fire with officers. Authorities say they believe the man had posted dark messages on Truth Social, Trump’s online platform, including one that said federal agents should be killed on sight.

Another man drove his car into a US Capitol barricade Sunday and began firing gunshots into the air before he fatally shot himself.

On Monday, the Department of Justice announced the arrest of a Pennsylvania man who had made repeated threats on the lives on FBI agents on Gab, a platform popular with Trump supporters.

“You’ve declared war on us and now it’s open season on YOU,” he wrote in one post shared by authorities.

A joint intelligence bulletin from the FBI and Homeland Security warns about an increase in violent online threats targeting federal officials and government facilities. Those include “a threat to place a so-called dirty bomb in front of FBI headquarters,” along with calls for “civil war” and “rebellion,” according to a copy of the document obtained by The Associated Press.

Mentions of “civil war” on platforms including Facebook and Twitter increased tenfold in the hours immediately after last week’s search of Mar-a-Lago, according to an analysis by Zignal Labs, a firm that analyzes social media content.

Many of the posts contained baseless claims suggesting President Joe Biden ordered the FBI to search Trump’s home, or that the FBI planted evidence to incriminate Trump.

“Biden sending the FBI to raid a former President, Mr. Donald Trump’s home is a declaration of WAR against him and his supporters,” wrote one poster on the Telegram platform.

The intelligence bulletin also noted federal law enforcement officials have identified multiple threats against government officials involved in the Mar-a-Lago search, including calls to kill the magistrate judge who signed the search warrant.

The names and home addresses of FBI agents and other officials have been posted online, along with references to family members who could be additional targets, according to the intelligence documents.

The threats are ominously similar to the online rhetoric that preceded the January 6, 2021, attack on the US Capitol, says Rep. Bennie Thompson, a Mississippi Democrat who chairs the House January 6 committee and the Committee on Homeland Security.

“These threats of violence and even civil war—coming predominantly from right-wing extremists online—are not only un-American but are a threat to our democracy and the rule of law,” Thompson said.

The search of Trump’s residence was executed based on a lawfully obtained warrant signed by a judge. But that’s beside the point for Trump and his allies. “This is an assault on a political opponent at a level never seen before in our Country,” Trump wrote Monday in a post on his Truth Social. “Third World!”

Republican Rep. Paul Gosar of Arizona equated the investigation with “tyranny” and tweeted, “We must destroy the FBI.”

Another Arizona congressman, Republican Andy Biggs, sought to place some blame on the individual agents who executed the search. “This looked more like something you would see in the former Soviet Union,” Biggs said this week. “Why did all those agents willfully go along?”

Republican Sen. John Thune told reporters in Sioux Falls, South Dakota, on Tuesday that though the Justice Department has shown it followed legal protocols in obtaining the search warrant, its reticence about the Trump investigation has caused people to question law enforcement’s motives.

“There’s just a lot of unanswered questions that, left to a vacuum, create lots of suspicions among the American people, and the one thing you don’t want is people not trusting law enforcement,” Thune said.

Other Republicans have tried to temper the rhetoric, as Arkansas Gov. Asa Hutchinson did during an appearance over the weekend on CNN. “We need to pull back on casting judgment on them,” Hutchinson said of the agents. “The FBI is simply carrying out their responsibilities under the law.”

But many in the conservative media haven’t heeded that advice.

“The raid on Mar-a-Lago was not an act of law enforcement, it was the opposite of that,” Tucker Carlson said on his Fox News show Monday night. “It was an attack on the rule of law.”

Associated Press writers Michael Balsamo and Stephen Groves contributed to this report.

A14 Thursday, August 18, 2022

BIG DATA TO UNLOCK $100B FOR SEA STATES

By Cai U. Ordinario

@caiordinario

INVESTING in big data would create $100 billion worth of value for Southeast Asian countries, including the Philippines, according to the latest report from the Asian Development Bank (ADB).

ADB said this will go a long way in fast-tracking post-Covid-19 economic recovery in Southeast Asia and would greatly benefit sectors such as health, social welfare and protection, and education.

In its latest report, ADB estimates that in Southeast Asia alone, the size of the internet economy could triple to $300 billion by 2025, compared to 2019.

“The pace of digitalization clearly accelerated during the Covid-19 pandemic, underscoring the importance of big data for the effective and efficient delivery of key public services such as health care, social welfare and protection, and education,” ADB Director General for Southeast Asia Ramesh Subramaniam said in a statement.

“It is crucial for policy makers across the subregion to help pave the way for big data adoption— from strategic governance to building a data-driven culture,” he added.

ADB also estimated that remote monitoring systems can bring $9.4 billion in annual cost savings to the health-care system in Southeast Asia by 2030 with fewer hospital visits, shorter hospital stays, and medical procedures.

The report pointed out that the use of analytics to direct highly targeted health interventions for at-risk populations can lead to an estimated $15.5 billion increase in gross domestic product (GDP) across the region by 2030.

ADB also said the use of digital technologies to provide personalized and remote learning and job matching can contribute an estimated $77.1 billion annually to the GDP of Southeast Asian countries by 2030.

The report, however, cautioned that unlocking the potential of big data in public service delivery will require governments to lay the strategic and technical groundwork to maximize the opportunities of big data and mitigate its risks, including protection for data privacy, fraud, and cybersecurity.

Blue Ribbon’s new chief Tolentino bares plans, sets hearings

By Butch Fernandez

@butchfBM

SENATE probers sitting in the Committee on Accountability of Public Officers (Blue Ribbon) are poised to line up a full agenda for investigating controversial transactions, as they met for the first time Wednesday and vowed to fulfill their key constitutional mandate to go after grafters.

Presiding over its organizational meeting, Blue Ribbon panel chairman Sen. Francis Tolentino affirmed their pledge to “accomplish the committee’s mandate, as well as to fulfill its powers in aid of legislation.”

He confirmed that the Blue Ribbon panel lined up two hearings on raging controversies, starting with the sugar importation mess, set for Tuesday (Aug. 23); and the alleged pricey laptops bought by the Procurement Service of the Department of Budget and Management (DBM) for the Department of Education (DepEd) on Thursday (Aug. 25).

Tolentino aired an appeal “for the members of the committee to be forthright in coming up with a Blue Ribbon roadmap which would entail—for purposes of the hearing—a known duration, a defined direction and not evolve into a political circus, instead respect the rights of the witnesses and the resource persons, prevent abuses and pass the proper remedial legislation with the known standard of proof.”

Moreover, Tolentino gave assurances that “we will not be here to witch-hunt, or to have a fishing expedition, we will be here, in the succeeding hearings, to gather and uncover the truth. We will do what is right.”

Blue Ribbon members decided to first tackle the privilege speech of Senate President Juan Miguel Zubiri on the sugar importation order tagged as unauthorized by Malacañang Palace, and “the pricey laptops” bought by the DBM for the Department of Education.

However, no dates yet were set for inquiries lined up: on the latest PPE procurements; the scholarship programs under the Unified Financial Assistance System (the scholarship program of CHED), and Land Transportation Office (LTO) transactions.

Tolentino also announced that the Blue Ribbon has tapped two ex-senior ombudsmen (Melchor Carandang; and former Deputy Ombudsman for Luzon Gerard Mosquera) to help the committee inquiry.

At Wednesday’s hearing, Tolentino administered the oath of office of Mosquera, who will now stand as the committee’s general legal counsel.

Carandang will serve as senior legal consultant.

Tolentino said the appointment of counsels in the committee shows the “seriousness of the Senate Blue Ribbon Committee of the 19th Congress in tackling the resolutions ahead.”

Meanwhile, also at the panel’s organizational meeting, Minority Leader Aquilino “Koko” Pimentel III proposed a state-of-the-art maximum security prison.

“If a maximum security prison be built, then make it world-class in the sense that the security features in that prison should be modern,” Pimentel proposed, attending the meeting virtually, and suggested that “it should contain all components of a maximum security prison designed in the year 2022.”

Justice Secretary Jesus Crispin Remulla, who joined the meeting, agreed with Pimentel and noted a crammed maximum security area in the New Bilibid Prison in Muntinlupa City. According to Remulla, the Bilibid maximum security currently houses 17,000 inmates, way beyond the limit of 7,000.

Sen. Ronald “Bato” Dela Rosa expressed full support for Tolentino as Blue Ribbon chief, saying he “fully agreed” with Tolentino’s avowal there will not be a “witch hunt” or “fishing expedition” in uncovering the truth.

For her part, Sen. Risa Hontiveros enjoined the Blue Ribbon to hold to account government officials found to have misused public funds.

Hontiveros renewed her appeal for the abolition of the PS-DBM over findings of allegedly overpriced laptops purchased by DepEd.

She also cited complaints reaching her office that beneficiaries of UniFAST have yet to receive their subsidies. “I think this drives home the point that every time public funds are used injudiciousl—whether on tuition fees, laptops, PPE (personal protective equipment), face shields —real lives are affected,” Hontiveros stressed.

Citing ripple effects, export bloc seeks RCEP ratification

By Andrea E. San Juan

PHILIPPINE Exporters Confederation, Inc. (Philexport) has again called on the Senate to ratify the Regional Comprehensive Economic Partnership (RCEP).

Philexport president Sergio R. Ortiz-Luis Jr. has repeatedly rallied behind the ratification of the regional trade deal, noting that of over 2,000 active members of the organization, nearly 1,000 are exporting to RCEP economies.

“The opening and expansion of market access to the member economies will create positive ripple effects which can result in employment and livelihood, much needed especially now as we try to recover from and thrive again in this pandemic,” said Ortiz-Luis in a statement released by Philexport on Friday.

The Philippine Senate has yet to ratify the regional trade deal. According to the umbrella organization of Philippine exporters, this has caused dismay among relevant agencies and private sector stakeholders as they warned that further delay will slow the growth momentum and cast doubts about the country’s openness to trade and investment.

Meanwhile, in a recent webinar, Robin Flint, First Secretary of the Australian Embassy in Cambodia, highlighted the chapter on customs procedures and trade facilitation in the regional trade pact, noting that it is among the most important chapters in RCEP as it commits customs agencies to release goods within a specific timeframe.

Flint said RCEP’s Chapter 4 on Customs Procedures and Trade Facilitation (CPTF) is a crucial one designed to provide a level playing field for all members to enforce cross-border trade.

According to the international trade official, the CPTF, which consists of 21 articles, is important because “you need very strong rules around how customs agencies will implement a free- trade agreement such as RCEP.”

“Good rules will facilitate trade, build business confidence and facilitate cross-border transaction in goods,” added Flint.

During the virtual event, Flint said that the CPTF chapter has several key provisions, including those on pre-arrival processing, in which RCEP members commit to allow trade and customs documentation to be submitted prior to the goods arriving.

“This form of advanced lodgments of documentation greatly reduces the amount of time the goods undergo customs clearances,” said the trade official.

Another important provision, Flint said, is on the advanced rulings, which commits member countries to allow for customs rulings to be provided to traders upon request for the tariff classification of their goods.

Traders, whether importers or exporters, can apply to a customs administration for advanced ruling to get an assessment about how their goods will be treated—whether it’s originating under RCEP, what the customs value might be—so that they can calculate the taxes and fees.

Flint said the provision on advance ruling brings greater certainty as to how a customs administration will treat traders’ products while reducing discrepancies at the border and making the whole process of importing and exporting much quicker.

The international trade official added that the provisions touching on the release of goods, which call on members to maintain procedures for clearing goods from customs within specific timeframes, are equally important.

For general goods, customs is committed to release goods 48 hours after arrival as long as all necessary requirements have been met. Meanwhile, for perishable goods, RCEP makes commitments for customs administrations to “release goods from customs within six hours after arrival.”

Flint noted that the inclusion of specific timeframes “goes above and beyond” the World Trade Organization Trade Facilitation Agreement commitments, making the whole shipment process quicker, reducing costs for the business community, and lowering costs for customs administrations as well.

This gives traders of food and agricultural products greater certainty that their products will be released swiftly after arrival, allowing them to plan appropriately, reduce potential costs from storage using bonded warehousing, and manage risks from spoilage due to detention at customs, he explained.

In June, Ortiz-Luis noted that exporters experienced a shipping crisis as there was a shortage of ships, scheduling problems and high freight costs.

RCEP is a free-trade agreement among Asean countries and their trading partners namely Australia, China, Japan, New Zealand and South Korea. Touted as the world’s largest trade pack, RCEP represents 30 percent of the global gross domestic product (GDP).

The regional trade pact came into force on January 1, 2022.

SOFT DRINKS, HARD TIMES A man arranges carbonated drinks delivered to a store in Makati City. Reports said that makers of soft drinks are among those bearing the impact of declining sugar supply in the country. Several leading carbonated drink producers confirmed in a joint statement on Tuesday that "our industry is facing a shortage of premium refined sugar—a key ingredient in many

of our products." NONIE REYES

‘NCAP breaches due process, data privacy’

By Joel R. San Juan

@jrsanjuan1573

ALAWYER has joined several transport groups in petitioning the Supreme Court to declare as unconstitutional the no-contact apprehension policy (NCAP) being implemented by several local government units (LGUs) in Metro Manila.

Lawyer Juman B. Paa filed the petition after being compelled to pay huge fines and penalties for four traffic violations (obstruction of the pedestrian lane) he allegedly committed between May and July 2021 in the City of Manila, as captured through the NCAP before he could register his vehicle.

He named the Manila City government through Mayor Honey Lacuna and the Sangguniang Panlungsod ng Maynila as respondents in the petitioner.

Manila’s NCAP is being implemented by virtue of City Ordinance No. 8676, Series of 2020.

Paa asked that the NCAP be declared unconstitutional for violating his constitutional right to due process; for being oppressive and confiscatory; and for violation of privacy rights under Republic Act 10173 or the Data Privacy Act of 2012.

The petitioner said the fines imposed for the four traffic violations reached a total P13,000.

However, due to late payment of the fines, a penalty of P7,320 was imposed by the city government— equivalent to approximately 56 percent of the fine imposed or roughly, 4.6 percent penalty interest.

Paa claimed that he never received any notice of violation from the Manila Traffic and Parking Bureau (MTPB) as it appeared that these notices were sent to a wrong address.

Despite this error, Paa said he was still compelled to pay the fines and their corresponding penalties.

The implementation of NCAP is violative of one’s right to due process due to absence of proper notice, he said.

He saidthe NCAP lacks the technical capability to ensure that notices of violations are received by the motorists.

Editor: Jennifer A. Ng Companies

BusinessMirror Thursday, August 18, 2022 B1

FNI income falls on fewer shipments of nickel in H1

By Jonathan L. Mayuga @jonlmayuga

Global Ferronickel Holdings Inc. (FNI) said its net income in January to June declined as bad weather made it difficult for the company to ship more nickel ore.

The company said its consolidated net income in the first half reached P417.4 million, 34.9 percent lower than last year’s P640.8 million. Revenues also slid 15 percent to P2.21 billion from the previous year’s P2.61 billion due to lower volume of ore shipped.

“The Group encountered more rainy days this period totaling 128 rainy days compared to 105 rainy days during the same period in 2021,” the company said in a statement.

FNI said it managed to complete 19 shipments of nickel ore totaling 1.035 million wet metric tons (WMT) during the six-month period, compared to 32 shipments totaling 1.740 WMT last year.

“We are hoping for better weather in the third quarter, during the peak of PGMC’s [Platinum Group Metals Corp.] mining season that normally delivers more than 60 percent of FNI’s revenues for the year,” said FNI President Dante R. Bravo.

FNI said the results in the first half were driven by the April to June mining operations of PGMC in Surigao del Norte, with incremental contributions from PGMC International Limited (PIL), a wholly-owned subsidiary established to facilitate relations with Chinese customers for the trading of mineral products. PGMC, a wholly-owned subsidiary of FNI, is the second-largest value exporter of nickel ore in the country.

Despite the fewer volume sold for the first half, FNI said it benefited from the higher average realized foreign exchange rate this year at P52.60 compared to the prior period’s P48.24, augmenting revenues by a total of P177.1 million.

“Nickel ore prices are also higher this year with an overall average realized nickel ore price at $39.21 per WMT, compared to last year’s period at $31.10 per WMT, topping up revenues by P405 million.”

The resulting sales mix was 79 percent low-grade ore and 21 percent medium-grade ore in 2022 in contrast to the previous period’s mix of 84 percent low-grade ore and 16 percent medium-grade ore.

These shipments comprise 0.816 million WMT low-grade nickel ore and 0.219 million WMT mediumgrade nickel ore compared to 1.465 million WMT low-grade nickel ore and 0.275 WMT medium-grade nickel ore of the same period in 2021.

“We have adjusted our 2022 shipment target to 4.0 million WMT but we still look forward to a productive and remarkable season due to the strong demand from China and favorable market conditions,” said Bravo.

In March, the company reported that its net income rose by nearly 6 percent to P1.98 billion in 2021, from the previous year’s P1.87 billion, despite bad weather conditions.

FNI said its revenues last year were up by P445.5 million, or 6.1 percent, to P7.71 billion in 2021 versus the P7.26 billion recorded in 2020.

Bravo said bad weather caused the company’s shipment volume to fall by 13.1 percent as it managed to ship 90 vessels of nickel ore for a total of 4.887 WMT in 2021 against the 103 vessels totaling 5.625 million WMT in 2020.

FNI’s overall average realized nickel ore price for 2021 was higher by 21.5 percent at $31.78/WMT compared to $26.16/WMT for 2020.

Meralco seeks bids for power deal

By Lenie Lectura

@llectura

The Manila electric Co. (Meralco) is soliciting bid offers to challenge the unsolicited proposal of Solar Philippines Batangas Baseload Corp.’s (SPBBC) 200 megawatts (MW) of baseload supply starting 2024.

The utility firm said on Wednesday it has commenced the competitive selection process (CSP). Interested challengers have until August 31 to submit their expressions of Interest. The pre-bid conference is scheduled on September 1, while the bid submission deadline is set on October 5.

The Meralco Third-Party Bids and Awards Committee said it would not accept late submissions and requests for additional time in all stages of the bidding process.

SPBBC has offered a P4.65 per kilowatt-hour (kWh) headline rate at 100 percent plant capacity factor and a similar rate for the levelized cost of electricity for a period of 20 years. It proposed to source the 200-MW contract capacity and guaranteed output from its 1,800 MW solar project with 1,800 MWh of battery storage currently under development.

To ensure the availability of 24/7 supply, SPBBC may also get backup power from other plants in its renewable energy (Re) portfolio. The company has proposed solar power plants with energy storage system (eSS) in Batangas, Cavite and Laguna.

The CSP Terms of Reference provides that offers, which should cover the full contract capacity, may be sourced from a single or portfolio of power plants with commercial operations not earlier than February 2019 but not later than March 2024.

This CSP forms part of Meralco’s sourcing activities that will ensure availability of reliable, sufficient and cost-competitive power for its customers.

Meralco is also conducting a competitive challenge for Ahunan Power’s proposal to supply 500MW mid-merit requirement from Re starting 2026, and is negotiating for another mid-merit offer of Terra Solar covering 850 MW of Re supply.

These CSPs are in compliance with the Department of energy’s Renewable Portfolio Standards policy and part of Meralco’s efforts to source up to 1,500 MW of its power requirements from Re sources. The National Telecommunications Commission (NTC) has asked the Court of Appeals (CA) to set aside the writ of mandamus it issued directing the agency to comply with the Anti-Red Tape Authority (ARTA) directive of granting automatic approval to News and entertainment Network Corp.’s (Newsnet) application.

Newsnet is seeking to operate and maintain interactive pay TV and multimedia services in the country. The CA issued the writ of mandamus last month.

In an 86-page motion for reconsideration, the NTC through the Office of the Solicitor General (OSG) argued that the CA should have dismissed the petition for mandamus filed by Newsnet for being moot and for lack of merit.

The NTC headed by Commissioner Gamaliel Cordoba said there was no more ARTA order to implement since it has already reversed its February 12, 2020 ruling through an order issued last June 17, 2022.

Newsnet sought the issuance of a writ of mandamus against the NTC by virtue of ARTA’s “Declaration of Completeness and Order of Automatic Approval in favor of Newsnet” released on February 12, 2020. however, ARTA reversed its February 2020 issuance in compliance with the July 9, 2021 resolution issued by the Department of Justice (DOJ) which held that ARTA does not have the authority to issue the declaration of completeness and compel NTC to issue a Certificate of Public Convenience (CPC) which included the use of frequencies.

The DOJ’s July 9, 2021 resolution has become final and executory as declared by the Office of the President (OP) in an order issuing an entry of judgment. The OSG said the said DOJ order has become “immutable, and may no longer be disturbed.”

“Now even assuming that the DOJ Resolution may not affect the rights of petitioner for not being a party to the proceeding for adjudication filed before the DOJ, as found by the honorable Court, still, it is humbly submitted, however that the honorable Court cannot close its eyes to the fact that said DOJ resolution, after it had attained finality, binds the ARTA,” the OSG said.

“The ARTA, in turn, in view of the determination made by the DOJ, had even complied and issued its resolution dated June 17, 2022 setting aside the order dated February 12, 2022.”

The OSG said ARTA’s June 17, 2022 resolution should be considered a “supervening event” that would warrant the reversal of the CA’s decision. The OSG further emphasized that Newsnet’s legislative franchise, Republic Act (RA) 8197 expired on August 9, 2021.

“Its failure to renew the franchise renders all its secondary authorities, permits and licenses arising from it revoked,” the OSG said.

PPA posts 9% hike in H1 profit

The Philippine Ports Authority (PPA) recorded a 9-percent increase in its net income in the first half, bringing it closer to the level of its profits before the pandemic.

In a statement, the state-owned port operator said its net income for the first two quarters of the year rose to P5.02 billion, from P4.61 billion the year prior, and is 24-percent higher than its P4.06billion target.

While the figure is still 13 percent lower than its pre-pandemic profits, the agency said the rebound is “a welcome development” coming from the 50-percent drop it registered in 2020.

Gross revenues went up by 14.28 percent to P9.44 billion from P8.26 billion, while expenses grew by 14 percent to P4.41 billion from P3.65 billion. Driving its revenues are the 552-percent spike in concession fees and other income, the 55-percent rise in storage fees, and the 28-percent growth in domestic dockage revenues. Still, lay-up operations and interest incomes were down by 93 percent and 87 percent respectively. Lorenz S. Marasigan

PLDT, Smart win gold, silver Stevies

The initiatives of PLDT Inc. and its wireless unit Smart Communications, Inc. on consumer safety and digital inclusion recently received recognition from the International Business Awards.

The International Business Awards are the world’s premier business awards program, receiving entries from organizations in 67 nations and territories.

Bagging a Gold Stevie® for Security/ Safety is Project Tower, an information dissemination campaign on the safety of cell sites and the regulation of radiofrequency of the telecommunication industry. In particular, the judges cited PLDT and Smart’s well-planned, wellexecuted and sufficiently explanatory video produced in the time of COVID-19 for the benefit of consumers.

Receiving back-to-back Silver Stevie® awards is PLDT and Smart’s #FarmSmart initiative, recognized under the Communications or PR Campaign of the Year - Corporate Responsibility category, for livelihood programs that help farmers and fisherfolk increase productivity, reach sure markets, and achieve food security through digital technologies. The International Business Awards cited #FarmSmart’s success in leveling up capacity-building initiatives to empower farming communities. early this year, #FarmSmart also received a Silver Stevie® from the Asia Pacific Stevies.

“We are truly honored for these citations from the International Business Awards. We are inspired and committed to pursue more initiatives that provide security, value and lasting impact to the consumers and communities that we serve,” said PLDT and Smart FVP and Corporate Communications head, Cathy Yap-Yang.

Winners will be celebrated during a gala banquet at the InterContinental London Park Lane hotel, in London, england, on Saturday, 15 October— the first live IBA awards ceremony since 2019. This year’s competition also featured a number of new categories to recognize organizations’ and individuals’ achievements in thought leadership.

“We’re thrilled that we’re able to return to celebrating Stevie winners in person this year,” said Stevie Awards president Maggie Miller. “This year’s class of honorees are as innovative, adventuresome, persistent, and successful as we’ve ever had. We look forward to celebrating their achievements with them during our 15 October awards banquet in London.”

CA asked to reverse ruling on Newsnet

Newsnet franchise

The expiration of Newsnet’s legislative franchise, according to the NTC, legally prevents it from approving Newsnet’s application for a CPC and the use of frequencies.

Newsnet’s CATV system uses Local Multi-Point Distribution System (LMDS), a wireless service which makes use of the wireless frequency spectrum to relay its signal to its subscribers. The NTC said a legislative franchise is a requirement before it could issue an authority for Newsnet to use radio frequencies under Section 1 of RA 3846 (Radio Control Act). The said provision states that: “No person, firm, company, association or corporation shall construct, install, establish, or operate a radio station within the Philippine Islands without having first obtained a franchise therefor from the Philippine Legislature.”

Since Newsnet’s 1997 Provisional Authority (PA) and the 2014 Application for PA were revoked upon the expiration of its legislative franchise, the OSG said, Newsnet can no longer use the frequencies assigned to it, or be allowed the assignment of frequencies.

Continued on B2

Solons want briefing on ABS-CBN-TV5 deal

The house Committee on Legislative Franchises has asked government agencies for a briefing on the recent deal between ABS-CBN and TV5.

According to its committee schedule, the panel, chaired by Parañaque City Rep. Gus Tambunting, will conduct a “briefing by concerned offices on the reported purchase agreement between ABS-CBN Corp. and TV5 Network, Inc.” on August 18 at 2 p.m.

This after, SAGIP party-list Rep. Rodante Marcoleta, who opposed the renewal of the franchise of ABSCBN claimed that TV5 has violated its franchise by entering into a deal with ABS-CBN.

The acquisition of TV5 shares signals a new era for ABS-CBN, which had lost its bid to renew its Congressional franchise in 2020.

But Marcoleta said TV5 violated Section 10 of its broadcasting franchise by entering into an agreement with ABS-CBN.

The lawmaker also said that “the merger left a bad taste in the mouth.”

“With the substantial purchase of the outstanding stocks of ABS-CBN, I believe Section 10 of the franchise of TV5 was violated because the rights and obligations have virtually been transferred to ABS-CBN,” Marcoleta said in his privilege speech.

“Pupwede ba Mr. Speaker na ang isang network na di na natin binigyan ng lisensiya—because of these established violations, wala na siyang prangkisa—pwede ba siyang sumakay ng ganun ganun lang without settling the obligations to the country, to the government?”

PLDT Inc. and ABS-CBN Corp. have entered into two separate multibillion-peso deals that will allow the two groups to build a bigger media, broadband, and cable empire.

One of the deals involves the acquisition by ABS-CBN of 34.99 percent of total voting and outstanding capital stock in TV5 Network Inc., a PLDT unit, for P2.16 billion.

Meanwhile, the other deal involves the P2.86-billion investment by Cignal Cable Corp., a PLDT unit, into Sky Cable Corp. This transaction represents 38.88 percent of the total issued and outstanding capital stock in Sky Cable.

Last July 12, Marcoleta filed house Resolution 36 asking the house of Representatives to conduct an investigation to determine the alleged violation of ABS-CBN with respect to its franchise and the imposition of concomitant administrative fines. Jovee Marie N. Dela Cruz

B2 Thursday, August 18, 2022

Companies

BusinessMirror

www.businessmirror.com.ph

2GO swings to profit in Q2 as economic activity rises

By VG Cabuag @villygc

Courier 2Go Group inc., a unit of conglomerate SM investments Corp., said it posted a net income of P108.7 million in the second quarter, a reversal of the P308.89 million in losses booked last year.

The company said the strong performance was driven by increased activities in the second quarter across major business lines, boosted by shipping and passenger volumes as the economy opened up, the company said.

Its income in the first half reached P74.2 million, from last year’s P600.69-million loss.

For the first half, 2Go had P8.69 billion in revenues, 11 percent higher than last year’s P7.79 billion.

“Increased economic activity and demand for transportation nationwide helped drive our financial turnaround. Our focus on customer experience and serving high-growth sectors ensures that 2GO is leading in logistics sector growth,” Frederic C. DyBuncio, 2Go president and CEO, said.

“We are encouraged by easing mobility restrictions that have boosted local tourism as well. We are optimistic that this momentum carries on in the second half of the year.”

Shipping revenues rose 67 percent for the quarter, as sea freight revenues grew 54 percent and passenger travel revenues grew more than double. Shipping saw increased volumes of goods shipped to the Visayas and Mindanao regions in particular, while passenger numbers also rose significantly as movement restrictions were lifted, the company said.

Logistics and other services revenue grew 22 percent, boosted by the growth in cold chain services, forwarding and ecommerce fulfillment.

In addition, 2GO benefited from operational efficiencies and higher service levels due to recent investments in IT and systems and two state-of-the-art Roro-passenger ships—MV 2GO Maligaya and MV 2GO Masagana. More fuel-efficient ships and vehicle routing systems helped offset the effects of higher fuel costs, among other initiatives, the company said.

CA asked to reverse ruling on Newsnet

Continued from B1

In its ruling issued last month, the CA also did not give weight to NTC’s argument that Newsnet’s petition has been rendered moot and academic by the July 9, 2021 DOJ resolution.

The CA also dismissed NTC’s claim that due to the expiration of Newsnet’s legislative franchise on August 9, 2021, it can no longer be entitled to the issuance of a CPC to operate LMPDS.

The CA noted that the DOJ resolution was issued pursuant to the NTC’s referral of the matter under Presidential Decree 242 which prescribes the procedure for administrative settlement of disputes, claims and controversies between or among government officers.

Although the present case involves NTC and ARTA, both government agencies under the Office of the President, the CA noted that it also involves Newsnet, a private entity.

Thus, the CA said PD 242 is not applicable to the case.

As for the non-renewal of Newsnet’s franchise, the CA noted that the firm is not a public telecommunication entity but a cable/community antennae television (CATV) entity, thus, a franchise is not needed for it to be able to operate.

Prior to the controversy, the NTC granted Newsnet a provisional authority in January 1997 to operate and the same was extended repeatedly within the duration of its congressional franchise.

In July 2014, Newsnet filed an application before the NTC for the issuance of a CPC to install, operate and maintain a LMDS to deliver interactive pay television and multimedia services in South Luzon, North Luzon, Visayas and Mindanao in the 25.35 GHz -26.35 GHz frequency range with authority to charge rates thereto. Joel R. San Juan

MUTUAL FUNDS

August 17, 2022

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN

STOCK FUNDS ALFM GROWTH FUND, INC. -A 215.25 1.85% -5.78% -4.95% -7.65% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.4386 1.04% -2.46% -1.97% -13.56% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.0098 3.53% -9.07% -7.18% -7.04% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7232 -1.93% -8.44% -6.4% -4.4% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.6958 -3.8% -6.76% N.A. -9.74% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.8539 3.58% -3.38% -2.94% -6.34% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.7351 5.18% -5.23% -5.21% -6.15% MBG EQUITY INVESTMENT FUND, INC. -A 79.43 -18.44% -12.3% N.A. -15.88% PAMI EQUITY INDEX FUND, INC. -A 45.2289 5.43% -4.28% -3.22% -6.02% PHILAM STRATEGIC GROWTH FUND, INC. -A 461.26 1.48% -5.08% -3.71% -7.88% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.2625 11.56% -1.17% -1.06% -6.92% PHILEQUITY FUND, INC. -A 34.1801 4.74% -3.75% -2.37% -6.6% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.8893 5.81% -4.46% N.A. -5.53% PHILEQUITY PSE INDEX FUND INC. -A 4.6809 6.1% -3.66% -2.57% -5.64% PHILIPPINE STOCK INDEX FUND CORP. -A 780.42 5.97% -3.71% -2.63% -5.8% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.6934 2.74% -8.74% -5.5% -7.87% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.4868 2.1% -6.68% -4.18% -7.65% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8884 5.61% -4.01% -2.89% -5.94% UNITED FUND, INC. -A 3.2513 5.32% -4.12% -2.12% -5.41% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) PHILEQUITY ALPHA ONE FUND, INC. -A 1.0658 0.81% N.A. N.A. -8.33% PHILIPPINE STOCK INDEX FUND CORP. -A 949.34 N.A. N.A. N.A. N.A. EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 105.184 6.36% -3.52% -2.27% -5.64% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9219 -22.37% 0.6% -2.01% -18.16% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.5606 -14.94% 7.36% 5.83% -15.48% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.5983 -3.76% -1.73% -2.27% -5.54% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1957 2.09% -1.59% -1.63% -3.76% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.5924 2.51% -0.71% -0.56% -3.66% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.199 6.87% N.A. N.A. -4.78% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9425 1.72% -0.15% 0.19% -3.68% PAMI HORIzON FUND, INC. -A 3.5305 -1.72% -2.41% -1.38% -6.23% PHILAM FUND, INC. -A 15.1805 -5.67% -3.72% -2.24% -9.88% SOLIDARITAS FUND, INC. -A 2.0214 0.81% -1.86% -1.42% -4.71% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4275 -0.49% -4.14% -2.2% -6.02% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9045 5.09% -3.17% -1.54% -5.21% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9425 -2.04% -2.63% N.A. -4.78% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8736 0.76% -4.62% N.A. -7.51% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8626 1.34% -4.92% N.A. -7.63% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03461 -9.63% -3.55% -0.69% -8.78% PAMI ASIA BALANCED FUND, INC. -B $0.9286 -15.28% -1.06% -1.29% -12.98% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.1475 -13.64% 3.82% 3.68% -13.63% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,2 $1.0505 -12.95% -0.51% 0.58% -12.36% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 375.89 0.77% 2.09% 2.35% 0.42% ATRAM CORPORATE BOND FUND, INC. -A 1.9043 -1.13% -0.11% 0.12% 1.04% COCOLIFE FIXED INCOME FUND, INC. -A 3.2508 0.41% 1.89% 3.28% 0.21% EKKLESIA MUTUAL FUND INC. -A 2.2058 -2.57% -0.26% 0.98% -2.03% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.4167 -1.11% 0.89% 1.79% -0.38% PHILAM BOND FUND, INC. -A 4.2176 -6.13% -0.82% 0.71% -4.05% PHILAM MANAGED INCOME FUND, INC. -A 1.3196 0.09% 2.13% 2.75% 0.04% PHILEQUITY PESO BOND FUND, INC. -A 3.9243 -1.52% 1.58% 2.43% -1.05% SOLDIVO BOND FUND, INC. -A 1.0207 -1.81% 2.24% 1.92% -0.73% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1661 -1.66% 1.43% 2.83% -0.67% SUN LIFE PROSPERITY GS FUND, INC. -A 1.71 -2.44% 0.53% 2.11% -1.19% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $483.38 -0.86% 1.48% 1.78% -1.26% ALFM EURO BOND FUND, INC. -A Є212.24 -3.73% -1.17% 0% -3.53% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1043 -8.18% -2.53% -0.45% -8.27% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0244 -6.87% -1.97% -0.4% -6.15% PAMI GLOBAL BOND FUND, INC -B $0.9269 -11.24% -5.58% -2.98% -9.38% PHILAM DOLLAR BOND FUND, INC. -A $2.2798 -9.65% -1.91% 0.4% -9.02% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0605378 -4.05% 0.29% 1.09% -2.82% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.8822 -9.8% -3.15% -0.91% -9.82% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM MONEY MARKET FUND, INC. -A 132.51 1.52% 2.14% 2.55% 1.01% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.0655 1.06% 1.46% N.A. 0.74% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A,1 1.3287 1.6% 2.03% 2.46% 1% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0653 0.67% 1.11% N.A. 0.44% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -A 46.0472 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 1.3325 -1.37% N.A. N.A. -3.64% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -A $0.8489 -14.25% N.A. N.A. -12.48%

PSE STOCK QUOTATIONS

August 17, 2022

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

FINANCIALS

ASIA UNITED BDO UNIBANK 43 43.9 43.75 43.75 43.75 43.75 5,000 218,750

127.4 128.2 125.1 128.5 124.7 128.2 6,946,310 887,855,287 346,034,687 BANK COMMERCE 9.8 9.96 9.8 10 9.7 9.96 80,600 793,010 256,200 BANK PH ISLANDS 92.85 93 96 96.25 93 93 2,746,190 261,680,489 -3,467,221.50 CHINABANK 29.2 29.25 30 30 29.1 29.2 335,400 9,908,530 875,715 EAST WEST BANK 7.18 7.19 7.19 7.35 7.18 7.19 886,400 6,425,678 -3,787,403.00 METROBANK 52.3 52.4 53.5 53.5 52.3 52.4 1,679,480 88,607,668.50 5,022,493.50 PB BANK 6.71 6.8 6.75 6.8 6.7 6.8 25,000 169,050 PBCOM 15.5 16.18 15.56 15.56 15.5 15.5 4,700 73,030 PHIL NATL BANK 18.6 18.72 18.86 18.86 18.5 18.6 148,300 2,756,724 35,160 RCBC 20.5 20.7 20.2 20.5 20.2 20.5 21,100 430,990 SECURITY BANK 90.65 90.7 92 93.3 90.45 90.7 2,197,670 202,317,573 40,224,127.50 UNION BANK 80 81.5 80.7 82.4 78.35 81.5 155,540 12,521,981 4,048,938 BRIGHT KINDLE 1.68 1.8 1.75 1.8 1.7 1.8 242,000 419,250 -5,250 COL FINANCIAL 3.42 3.45 3.41 3.51 3.41 3.45 21,000 72,230 FERRONOUX HLDG 1.79 2.47 1.79 1.79 1.79 1.79 3,000 5,370 IREMIT 0.79 0.96 0.78 0.79 0.78 0.79 27,000 21,240 MANULIFE 980 985 980 980 980 980 300 294,000 294,000 PHIL STOCK EXCH 159.9 160 160 162 160 160 12,410 1,985,840 1,420

INDUSTRIAL

ACEN CORP ALSONS CONS ABOITIZ POWER RASLAG BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM SYNERGY GRID PILIPINAS SHELL SPC POWER SOLAR PH VIVANT AGRINURTURE 8.58 8.6 8.7 8.72 8.57 8.6 5,410,200 46,614,067 6,877,556 0.94 0.96 0.96 0.96 0.96 0.96 13,000 12,480 32.7 32.8 31.55 32.85 31.55 32.8 2,268,900 73,966,210 14,212,335 1.88 1.89 1.94 1.97 1.88 1.89 2,971,000 5,677,160 122,420

0.405 0.41 0.415 0.415 0.405 0.41 3,670,000 1,500,750

19.4 19.46 19.7 19.92 19 19.4 1,219,800 23,908,494 8,787,892 66 66.2 64.5 66.2 64.5 66.2 22,210 1,453,525.50 -74,583

327.8 328 329 332 326.6 328

356,510 117,132,706 33,002,078 16.58 16.64 16.76 17.24 16.4 16.58 1,527,000 25,864,866 -3,352,922 3.1 3.11 3.05 3.18 3.03 3.11 2,231,000 6,907,840 484,570

4.72 4.9 4.9 4.9 4.9 4.9 8.67 9.4 9.4 9.4 9.3 9.4 19,000 5,000 93,100 46,750

-23,500 13 13.2 12.82 13.4 12.78 13 12,925,100 170,355,258 2,273,428 22.2 22.25 22.1 22.25 21.85 22.2 675,200 14,926,580 870,545

10.9 10.96 10.8 11 10.74 10.9 155,600 1,687,328

21,964 1.79 1.8 1.79 1.81 1.78 1.8 170,050,000 305,560,340 1,256,990 15.76 17.86 15.76 15.76 15.76 15.76 200 3,152 -

6.54 6.57 6.56 6.66 6.4 6.57 1,306,100 8,615,008

121,220 AXELUM 2.55 2.58 2.61 2.62 2.53 2.55 1,841,000 4,706,670 -119,750 CNTRL AZUCARERA 9.54 10.94 9.52 10.94 9.52 10.94 3,400 32,510 CENTURY FOOD 25.95 26 25.75 26.3 25.7 26 1,266,000 33,065,985 -14,232,480 DEL MONTE 13.8 13.9 13.8 13.8 13.8 13.8 3,600 49,680 DNL INDUS 7.68 7.69 7.5 7.69 7.5 7.68 4,216,200 32,305,154 9,789,871 EMPERADOR 20.15 20.3 19.7 20.55 19.56 20.15 3,921,600 79,362,506 23,668,497 SMC FOODANDBEV 46.2 46.25 46.5 46.5 46.2 46.25 564,800 26,154,355 -22,833,720 FIGARO COFFEE 0.66 0.67 0.68 0.69 0.66 0.67 11,722,000 7,927,560 499,550 ALLIANCE SELECT 0.54 0.55 0.55 0.55 0.55 0.55 1,000 550 FRUITAS HLDG 1.15 1.17 1.1 1.18 1.08 1.17 17,303,000 19,513,860 50,000.00 GINEBRA 105 105.8 105.9 105.9 103 105 5,850 612,546 495,600 JOLLIBEE 227 233.2 235 235 227 227 709,300 164,627,608 -4,332,988 KEEPERS HLDG 1.31 1.32 1.34 1.34 1.31 1.32 6,303,000 8,368,590 LIBERTY FLOUR 17.6 18 17.42 17.6 17.42 17.6 400 6,994 1,760 MACAY HLDG 3.09 4.59 4.59 4.59 4.59 4.59 1,000 4,590 MAXS GROUP 5.8 5.89 5.7 5.8 5.63 5.8 246,800 1,412,178 48,025 MG HLDG 0.117 0.12 0.117 0.119 0.117 0.119 460,000 54,200 MONDE NISSIN 16.22 16.24 16.4 16.4 16.18 16.22 7,532,500 122,319,498 14,064,452 SHAKEYS PIZZA 7.92 7.94 7.74 7.92 7.74 7.92 8,000 63,179 -7,920 ROXAS AND CO 0.57 0.59 0.59 0.62 0.57 0.57 1,905,000 1,123,940 26,790.00 RFM CORP 3.86 3.9 3.9 3.9 3.86 3.86 70,000 272,600 -234,000 ROXAS HLDG 1.09 1.11 1.09 1.09 1.08 1.08 71,000 76,760 SWIFT FOODS 0.091 0.093 0.092 0.094 0.089 0.093 590,000 53,920 UNIV ROBINA 120 121 125 125 120 120 1,459,940 176,852,658 -59,651,926 VITARICH 0.62 0.64 0.65 0.65 0.62 0.62 414,000 256,800 VICTORIAS 2.6 2.67 2.6 2.6 2.6 2.6 1,000 2,600 CEMEX HLDG 0.7 0.71 0.71 0.72 0.7 0.71 782,000 555,570 -9,970 EAGLE CEMENT 14.68 14.7 14.5 14.7 14.5 14.7 288,600 4,226,826 EEI CORP 3.33 3.39 3.45 3.45 3.33 3.33 632,000 2,131,300 -1,488,290 HOLCIM 4.63 4.75 4.59 4.69 4.59 4.62 97,000 447,000 -368,000 MEGAWIDE 4.5 4.52 4.28 4.58 4.28 4.52 790,000 3,558,190 -222,720 PHINMA 19.28 19.36 19.28 19.3 19.28 19.3 32,200 620,960 TKC METALS 0.63 0.66 0.63 0.63 0.63 0.63 29,000 18,270 VULCAN INDL 0.83 0.86 0.83 0.86 0.83 0.83 1,273,000 1,066,930 CROWN ASIA 1.41 1.42 1.4 1.41 1.38 1.41 732,000 1,023,220 -9,810 EUROMED 0.98 1 0.98 0.98 0.98 0.98 3,000 2,940 PRYCE CORP 5.27 5.46 5.36 5.36 5.27 5.27 6,000 31,710 -31,710.00 CONCEPCION 14.22 17 18 18 17 17.98 1,182,900 20,114,172 -20,062,020 GREENERGY 1.86 1.87 1.81 1.88 1.81 1.87 14,081,000 25,964,860 70,090 INTEGRATED MICR 7.1 7.19 6.86 7.19 6.85 7.1 159,300 1,120,346 -1,608 IONICS 0.61 0.62 0.63 0.63 0.62 0.62 467,000 291,010 PANASONIC 5.58 5.9 5.55 5.9 5.55 5.9 1,600 9,230 SFA SEMICON 1.4 1.43 1.38 1.44 1.37 1.43 652,000 924,130 CIRTEK HLDG 3.28 3.29 3.24 3.3 3.21 3.28 1,335,000 4,357,100 -72,380

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP 2.2 2.21 2.21 2.24 2.2 2.21 7,550,000 16,707,650 8,744,870 4.09 4.7 4.09 4.09 4.09 4.09 2,000 8,180 -

AYALA CORP 775 775.5 769.5 776 755 775

416,180 321,297,685 123,632,585 ABOITIZ EQUITY 61 61.2 60.35 61.95 60.2 61.2 1,518,560 93,016,033 28,135,356.50 ALLIANCE GLOBAL 10.58 10.6 10.44 10.76 10.3 10.6 5,172,500 55,014,874 -8,552,630 ANGLO PHIL HLDG 0.74 0.76 0.75 0.75 0.75 0.75 71,000 53,250 ATN HLDG A 0.415 0.425 0.415 0.43 0.415 0.425 830,000 348,150 ATN HLDG B 0.41 0.48 0.42 0.48 0.42 0.48 2,310,000 970,800 0 COSCO CAPITAL 4.32 4.35 4.35 4.5 4.32 4.32 947,000 4,121,970 -2,689,100 DMCI HLDG 10.2 10.28 10.2 10.38 10.1 10.28 9,235,200 94,983,784 27,165,512.00 FORUM PACIFIC 0.203 0.27 0.203 0.203 0.203 0.203 410,000 83,230 GT CAPITAL 520.5 525 526.5 539 511.5 525 427,920 226,181,160 116,172,840 HOUSE OF INV 3.55 3.6 3.6 3.6 3.59 3.59 9,000 32,370 JG SUMMIT 55.9 56.15 55.4 56.3 54.95 56.15 2,373,360 132,737,647.50 47,737,169.50 KEPPEL HLDG B 7.52 8.4 8.4 8.4 8.4 8.4 3,000 25,200 LODESTAR 0.54 0.59 0.6 0.61 0.59 0.59 18,000 10,800 LOPEZ HLDG 3.1 3.12 3.02 3.12 3.02 3.12 129,000 399,220 -216,640 LT GROUP 9.27 9.3 9.2 9.42 9.14 9.3 5,633,400 52,130,676 -12,125,453.00 METRO PAC INV 3.76 3.83 3.82 3.86 3.76 3.76 10,772,000 41,095,350 10,015,080 PACIFICA HLDG 2.1 2.18 2.16 2.16 2.1 2.1 4,000 8,520 PRIME MEDIA 2.09 2.11 2.12 2.12 2.08 2.11 216,000 454,330 SOLID GROUP 0.84 0.85 0.84 0.85 0.84 0.84 836,000 704,490 SM INVESTMENTS 882 882.5 880 887.5 855.5 882 465,840 410,739,250 102,168,785 SAN MIGUEL CORP 100 100.9 104 104 100 100 838,990 84,278,094 5,257,714 TOP FRONTIER 109 114 108 109 108 109 320 34,680 -21,600

PROPERTY

ARTHALAND CORP 0.53 0.54 0.54 0.54 0.54 0.54 55,000 29,700 -1,080

AYALA LAND AYALA LAND LOG ALTUS PROP ARANETA PROP 29.35 29.4 30 30.55 29.3 29.4 21,857,200 654,339,370 182,909,380 3.8 3.82 3.77 3.85 3.76 3.82 1,921,000 7,317,150 212,910

14 14.02 14.2 14.2 14 14.02 18,900 265,902 -

1.43 1.44 1.48 1.5 1.43 1.44 821,000 1,197,830 -

AREIT RT A BROWN 39.55 39.7 39.85 39.9 38.5 39.7 0.76 0.78 0.73 0.79 0.72 0.78 712,100 28,095,795 -13,944,955 500,000 384,790 -

CITYLAND DEVT 0.71 0.74 0.73 0.73 0.71 0.71

176,000 127,670 CROWN EQUITIES 0.082 0.084 0.084 0.084 0.082 0.082 3,500,000 293,960 CEB LANDMASTERS CENTURY PROP CITICORE RT DOUBLEDRAGON 2.5 2.56 2.55 2.56 2.5 2.5 595,000 1,501,950

73,580 0.38 0.385 0.38 0.38 0.38 0.38 2,030,000 771,400 -581,400 2.41 2.42 2.45 2.45 2.41 2.42 15,571,000 37,794,580 1,048,140 8.07 8.1 7.81 8.3 7.81 8.1 542,100 4,381,951 176,786

DDMP RT DM WENCESLAO EMPIRE EAST EVER GOTESCO FILINVEST RT FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV CITY AND LAND MEGAWORLD MRC ALLIED 1.53 1.55 1.56 1.57 1.52 1.53 4,576,000 7,025,460 116,500

6.85 6.88 6.86 6.9 6.81 6.85 0.2 0.208 0.198 0.198 0.198 0.198 520,300 3,577,795 -307,248 30,000 5,940 -

0.305 0.31 0.305 0.315 0.29 0.315 10,920,000 3,261,700 30,500

6 6.45 6.5 6.52 6

6 11,083,300 71,269,984 1,132,947 0.92 0.93 0.92 0.94 0.92 0.93 4,450,000 4,136,780 332,770

0.95 0.96 0.92 0.96 0.92 0.96 9.22 9.27 9.1 9.5 9.1 9.45 1.04 1.05 1.07 1.07 1.03 1.05

471,000 442,870 132,700 1,213,022 622,000 647,260 0.99 1 0.91 1 0.91 0.99 1,913,000 1,848,100

-9,200 -82,295 17,550 52,400 2.56 2.58 2.57 2.68 2.55 2.56 40,480,000 106,058,590 -11,722,230 0.191 0.192 0.197 0.198 0.191 0.192 6,910,000 1,337,690 -

MREIT RT PHIL ESTATES PRIMEX CORP RL COMM RT ROBINSONS LAND 15.88 15.9 15.9 16.02 15.88 15.9 2,620,200 41,778,806 -1,269,960 0.415 0.42 0.41 0.42 0.41 0.415 2.43 2.48 2.49 2.49 2.43 2.43 620,000 256,400 577,000 1,425,730 -90,200 6.59 6.6 6.69 6.69 6.5 6.6 2,097,500 13,878,275 -5,108,449 19.6 19.86 19.2 19.9 19.12 19.86 3,458,400 68,329,938 -14,110,974.00

PHIL REALTY ROCKWELL SHANG PROP STA LUCIA LAND SM PRIME HLDG SOC RESOURCES 0.216 0.217 0.215 0.219 0.215 0.217 1.3 1.31 1.29 1.32 1.29 1.31 2.6 2.61 2.6 2.61 2.6 2.61 2.82 3.09 3.04 3.12 3.04 3.12 280,000 60,840 31,000 40,800 26,000 67,620 50,000 154,040

37.95 38 38.15 38.2 37.75 38 3,351,600 127,357,640 15,364,975 0.51 0.56 0.56 0.56 0.56 0.56 1,000 560 -

VISTAMALLS

3.28 3.35 3.31 3.32 3.28 3.28 SUNTRUST RESORT 1.04 1.06 1.04 1.06 1.04 1.04 16,000

52,810 132,000 137,300

VISTA LAND 2.2 2.24 2.26 2.3 2.19 2.2 3,008,000 6,750,140 -3,217,980

VISTAREIT RT 1.74 1.75 1.75 1.76 1.74 1.75 2,918,000 5,112,360 105,110

SERVICES

ABS CBN GMA NETWORK 12.34 12.4 12.6 12.82 12.22 12.4

528,400 6,556,928 11.1 11.18 11.12 11.24 11.06 11.1 1,189,600 13,292,730 MANILA BULLETIN 0.34 0.38 0.335 0.34 0.335 0.34 GLOBE TELECOM 2,332 2,334 2,296 2,352 2,296 2,332 40,000 13,550

85,080 198,217,140 -40,834,820

PLDT APOLLO GLOBAL CONVERGE DFNN INC DITO CME HLDG NOW CORP TRANSPACIFIC BR 2GO GROUP CHELSEA 1,708 1,714 1,750 1,764 1,701 1,708

141,655 243,868,015 -34,921,575 0.038 0.039 0.038 0.04 0.037 0.038 170,600,000 6,586,300 276,600 19.66 19.68 19.42 19.92 19.42 19.66 15,749,600 309,630,674 12,619,234 3.26 3.44 3.35 3.45 3.21 3.44 475,000 1,581,880 326,640 3.75 3.79 3.69 3.8 3.65 3.79 4,274,000 15,924,370 4,979,120 1.12 1.13 1.13 1.13 1.1 1.13 2,154,000 2,407,410 -5,750

0.27 0.275 0.27 0.28 0.27 0.275 2,960,000 809,450 -

7 7.2 6.85 7.2 6.85 7.2 1.19 1.2 1.16 1.2 1.16 1.19 33,200 229,830 620,000 735,280

CEBU AIR INTL CONTAINER 46.15 46.2 45.6 46.5 45.45 46.15

362,600 16,713,505 6,062,730 186 186.4 188.6 190.7 185 186 2,253,140 420,724,361 -95,607,982 MACROASIA 5.06 5.07 5 5.12 4.93 5.06 1,524,800 7,690,929 -1,024,680 METROALLIANCE A 0.84 0.87 0.88 0.88 0.84 0.86 585,000 497,980 PAL HLDG 5.81 5.95 5.95 5.95 5.51 5.93 24,300 141,150 8,025 HARBOR STAR 1.36 1.37 1.32 1.37 1.31 1.36 4,758,000 6,371,140 78,900 ACESITE HOTEL 1.36 1.65 1.36 1.36 1.36 1.36 1,000 1,360 BOULEVARD HLDG 0.077 0.078 0.08 0.08 0.077 0.077 18,370,000 1,432,350 -33,690 DISCOVERY WORLD 1.71 1.78 1.76 1.76 1.76 1.76 4,000 7,040 GRAND PLAZA 10.04 11 11 11 11 11 900 9,900 WATERFRONT 0.455 0.465 0.47 0.48 0.455 0.455 550,000 253,350 IPEOPLE 6.22 7.1 7.25 7.25 6.5 6.5 8,100 56,820 STI HLDG 0.34 0.35 0.345 0.355 0.345 0.35 260,000 90,550 -48,450.00 BELLE CORP 1.18 1.19 1.2 1.2 1.18 1.19 907,000 1,084,140 -23,600 BLOOMBERRY 6.86 6.88 6.92 7 6.85 6.86 5,883,500 40,810,827 -948,788 PACIFIC ONLINE 1.42 1.47 1.47 1.47 1.47 1.47 5,000 7,350 LEISURE AND RES 1.5 1.51 1.48 1.51 1.48 1.51 914,000 1,366,540 MANILA JOCKEY 1.31 1.49 1.49 1.49 1.26 1.26 21,000 31,060 MJC INVESTMENTS 0.7 1.02 0.7 0.7 0.7 0.7 1,000 700 PH RESORTS GRP 0.84 0.85 0.77 0.9 0.77 0.85 16,148,000 13,728,670 -180,250 PREMIUM LEISURE 0.43 0.435 0.43 0.435 0.43 0.435 4,730,000 2,036,600 256,200 PHILWEB 3.34 3.35 3.4 3.46 3.33 3.35 2,351,000 7,977,520 164,420 ALLDAY 0.33 0.335 0.35 0.355 0.335 0.335 49,760,000 17,084,750 160,400 ALLHOME 4.81 4.85 4.92 4.99 4.8 4.85 715,000 3,471,410 -1,539,890 METRO RETAIL 1.37 1.38 1.43 1.43 1.38 1.38 1,056,000 1,470,380 -989,750 PUREGOLD 35.65 35.7 36 36.65 34.9 35.65 3,023,300 108,748,500 42,021,790 ROBINSONS RTL 62.05 62.15 61.45 62.85 61.05 62.05 770,140 47,896,025.50 7,383,812.50 PHIL SEVEN CORP 73.3 73.8 72 73.9 72 73.9 4,170 305,773 167,421 SSI GROUP 1.55 1.56 1.52 1.57 1.47 1.56 4,146,000 6,361,350 -275,640 WILCON DEPOT 30.6 30.65 30.5 31.2 30 30.65 1,673,900 51,594,995 14,363,045 APC GROUP 0.203 0.211 0.203 0.205 0.203 0.205 2,910,000 595,910 EASYCALL 3.71 4.29 3.54 3.9 3.52 3.9 12,000 43,460 MEDILINES 0.75 0.76 0.77 0.77 0.75 0.76 1,064,000 806,040 114,000 PRMIERE HORIZON 0.4 0.405 0.395 0.405 0.39 0.4 1,590,000 633,150 -55,550

MINING & OIL

ATOK APEX MINING ATLAS MINING BENGUET A 7.9 8.15 8.15 8.2 8 8.15 145,200 1,183,925 1.7 1.71 1.69 1.73 1.69 1.71 4,052,000 6,909,090 4.71 4.75 4.63 4.75 4.63 4.75 5.1 5.18 5.17 5.19 5.17 5.18 270,000 1,274,160 28,200 145,908

BENGUET B CENTURY PEAK DIZON MINES FERRONICKEL GEOGRACE LEPANTO A LEPANTO B

5 5.01 5 5.01 4.95 5.01 2.71 2.72 2.71 2.72 2.71 2.72 3.55 4.89 4.91 4.91 4.91 4.91 39,700 196,976 -151,965 200,000 543,500 -

12,000 58,920 -

2.31 2.34 2.29 2.33 2.29 2.32 1,001,000 2,305,660 -61,780

0.179 0.194 0.179 0.179 0.179 0.179 10,000

1,790 0.133 0.134 0.132 0.135 0.132 0.134 3,470,000 464,870 0.134 0.135 0.135 0.135 0.134 0.134 270,000 36,350 13,400

MANILA MINING A 0.0099 0.01 0.01 0.01 0.0099 0.01 127,000,000 1,266,800 -

MANILA MINING B 0.01 0.011 0.01 0.01 0.0099 0.01 51,000,000 509,900 -

MARCVENTURES NIHAO

1.41 1.45 1.44 1.48 1.4 1.41 3,084,000 4,409,420 -911,710 0.91 0.94 0.9 0.94 0.9 0.94 101,000 90,940 18,000 NICKEL ASIA 5.88 5.9 5.75 5.9 5.74 5.9 2,087,300 12,204,902 1,501,493 ORNTL PENINSULA 0.72 0.73 0.74 0.74 0.72 0.73 436,000 319,730 PX MINING 3.38 3.4 3.2 3.46 3.19 3.38 72,302,000 242,347,010 -69,517,630 SEMIRARA MINING 44.05 44.1 43.5 44.4 43.5 44.1 3,248,700 143,315,920 10,061,305 ACE ENEXOR 16.2 16.34 15.96 16.2 15.7 16.2 391,700 6,285,406 -187,850 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.011 22,900,000 253,000 ORNTL PETROL B 0.011 0.012 0.012 0.012 0.011 0.011 1,000,000 11,400 PHILODRILL 0.0088 0.0089 0.009 0.0091 0.0087 0.0088 7,000,000 62,300 PXP ENERGY 5.45 5.46 5.47 5.53 5.4 5.46 144,800 791,536 -

PREFFERED

HOUSE PREF B AC PREF B1 ALCO PREF D AC PREF B2R CEB PREF DD PREF EEI PREF A EEI PREF B GTCAP PREF A JFC PREF B PNX PREF 4 PCOR PREF 3A SMC PREF 2F SMC PREF 2H SMC PREF 2I SMC PREF 2K TECH PREF B2D 98.3 98.4 98.4 98.4 98.3 98.4 496.2 505 499 499 495 495 490 505 450 500 450 500 491 502.5 502.5 502.5 502.5 502.5 45.6 45.85 45 46 45 45.85 98 99.5 99 99 98 98 101.1 107 110 110 107 107 105 107 107 107 105 107 976 1,000 1,000 1,000 1,000 1,000 970 978 978 978 978 978 730.5 734 759.5 759.5 723 734 1,036 1,055 1,036 1,036 1,036 1,036 76 77 77 77 77 77 75.3 75.45 75.4 75.5 75.3 75.3 76 77 76 77 76 77 73.5 74.4 74.4 74.4 74.4 74.4 55.5 55.8 55.8 55.8 55.5 55.5 1,080 106,269 6,000 2,974,560 40 19,000 200 100,500 37,000 1,690,185 -524,125 466,630 46,191,277.50 12,800 1,384,600 1,384,600 3,400 357,800 315,000

400 400,000 -

10 9,780 -

1,740 1,278,520 -

5 5,180 -

7,020 540,540 45,070 3,394,669 6,000 461,000 70 5,208 2,010 111,858

www.news.businessmirror@gmail.com Banking&Finance BusinessMirror Editor: Dennis D. Estopace• Thursday, August 18, 2022 B3

House panel OKs tax on plastics, e-commerce

By Jovee Marie N. dela Cruz @joveemarie

PROPOSALS to apply valueadded tax (VAT) on the use of digital platforms, to impose excise tax on plastic bags and to simplify tax payments were approved by the House Committee on Ways and Means on Wednesday.

Committee Chairman Albay rep. Joey Salceda said his colleagues voted to pass the proposed Digital Economy VAT, the Ease of Paying Taxes Bill and the measure imposing excise tax on plastic bags.

These measures are eligible for swift approval under rule 10, Section 48 of the House of representatives as these bills were approved on third and final reading in the Lower House during the 18th Congress.

Salceda particularly noted that the proposed Digital Economy VAT law will close ambiguities in the VAT system that have allowed some digital services and goods sold over the digital space to remain outside VAT-coverage.

The lawmaker added that some P154 billion in incremental revenues over five years could go into government coffers if the bill is enacted into law.

The proposal seeks to impose a 12-percent VAT on providers of online services like the netflix, Spotify and Lazada platforms.

Rep. Brosas reacts

HOWEVEr, Assistant Minority Leader and Gabriela Partylist rep. Arlene D. Brosas warned against new pass-on charges to subscribers of these online streaming platforms and services once VAT is applied.

“While we need to level the playing field in the digital economy, such aim should not be at the expense of ordinary Filipinos relying on various digital platforms and services,” the lawmaker said.

“We cannot be comforted by the assurance that there will be no pass-on charges supposedly because the digital tax will be credited as tax compliance in the platform’s origin country,” Brosas said. “Iba ang binabayaran nilang buwis kumpara sa panukalang VAT on digital transactions proposal.” [They pay different taxes compared to the proposed VAT on digital transactions.]

The lawmaker, a member of the House Committee on Ways and Means, noted that aside from the services of foreign-based platforms, the software licenses of Microsoft Corp. and Apple Inc. and even mobile games are covered by the bill.

Brosas moved to exclude scholarly digital services commonly used by educational institutions such as webinar platforms from the coverage of the digital tax bill so as not to further burden students with additional fees.

Internet-based trade

ACCOrDInG to Salceda, the measure seeks to level the playing field between traditional and digital businesses by clarifying the imposition of VAT on digital service providers (DSPs).

The lawmaker added he hopes the fiscal space from the proposal will provide fiscal space to support digitalization of small businesses, the national broadband network and jobs centers and training for digital freelancers.

“The digital economy is growing rapidly; but digital economy taxation is falling flat,” Salceda said. He noted that in 2019, the digital economy tax collections of the BIr was at P45 billion. By 2020, it was still at around P45 billion.

“That’s hardly believable given the increase in digital transactions,” the lawmaker said. “In fact, just to clarify, this is not a new tax. We pay VAT for almost all goods and services, except those specifically exempted by law. It goes without saying that the digital economy should be subject to VAT, but we are unable to capture these revenues because of ambiguities in tax laws.”

The bill said digital services such as digital advertising, subscriptionbased services and other online services that can be delivered through the Internet as VAT-able.

The measure also aims to strengthen tax compliance through simplified invoicing and registration requirements for VAT-registered nonresident DSPs.

The bill refers to a DSP as a service provider of a digital service or goods to a buyer, through operating an online platform for purposes of buying and selling of goods or services or by making transactions for the provision of digital services on behalf of any person.

Salceda added they are also considering providing a framework for the taxation of digital assets such as non-fungible tokens, cryptocurrency and others.

Simplify payment

THE committee has also approved the Ease of Paying Taxes (EOPT) bill, a proposal that’s gained a strong backing by the largest foreign and domestic business groups in the country.

Salceda said the EOPT bill is the most important ease of doing business proposal pending in Congress.

“Taxes are often the hardest part of doing business. So, [if] you lift that difficulty, you ease much of the burden of businesses, especially small ones,” he added.

The EOPT bill proposes to amend the national Internal revenue Code (nIrC) as amended by introducing administrative reforms that will simplify tax compliance and strengthen taxpayer rights.

The proposal mandates the Bureau of Internal revenue to create taxpayer classifications depending on the capacity to comply with tax rules and regulations. amount and type of tax paid, gross sales and/or receipts as well as inflation, volume of business, wage and employment levels and similar economic and financial factors.

The EOPT bill also calls for the implementation of simplified tax rules and regulations for ease of compliance.

To simplify VAT administration, the proposed bill seeks to eliminate the distinction between the documentation and basis of sales as against services subject to VAT. At present, sales subject to VAT should be evidenced by invoices while services subject to VAT should be covered by official receipts. The EOPT bill makes VAT invoices the sole basis and documentation.

Early filing

THE bill also proposes to add a provision that the P3-million VAT threshold, which was increased by the Tax reform for Acceleration and Inclusion (TrAIn) Law (republic Act 10963), may be adjusted to its present value not later than January 31, 2021 and every three years hence based on the consumer price index released by the Philippine Statistics Authority.

The EOPT also proposes to allow the payment of the taxes before they are due. This impliedly allows payment of tax not necessarily simultaneously with the filing of tax returns.

Salceda said the EOPT bill is aligned with the priority of the Department of Finance to digitalize the taxpaying process.

To allow full digitalization of the taxpayer experience, the EOPT proposes to delete various provisions in the nIrC that require taxes to be paid in the BIroffices or banks within the jurisdiction of the taxpayer’s legal residence, principal place of business or principal office, thereby giving taxpayers payment flexibility.

The bill also seeks to introduce provisions on taxpayers’ rights in the Tax Code and create a taxpayers’ advocate office.

Use of plastic

THE House Committee on Ways and Means on Wednesday also endorsed for plenary approval the substitute bill imposing excise tax on singleuse plastic.

House Committee on Ways and Means Vice Chairperson Mikaela Angela B. Suansing, principal author of the bill, said the use of plastic bags as means of transporting fresh produce, meat, clothing and other consumption good has become customary in the conduct of trade not only in the Philippines but in other country as well.

To reduce its costly environmental impact, Suansing said several countries have already imposed taxes on the use of plastic bags, while others have even gone so far as to implement a total ban.

“Given this concern, it is, therefore, necessary that the Congress finally address the environmental and human costs brought about by the proliferation of plastic bag waste,” she added.

Suansing’s proposal seeks to impose a P20-excise tax per kilogram on plastic bags.

By imposing this levy, she said all stakeholders will be encouraged to explore and utilize environmentfriendly alternatives to single-use plastic bags given its detrimental effects on the individual while generating additional revenue for the government.

This will help fund the government’s solid waste management programs under the Ecological Solid Waste Management Act of 2000, the lawmaker added.

Salceda earlier said the proposal will provide the government an additional P4.8 billion annual revenue.

Pain to industry

THE bill will also add a new section designated as Section 150-C of the nIrC of 1997. under the new section, an excise tax in the amount of P20 shall be imposed for every kilogram of plastic bag removed from the place of production or released from the custody of the Bureau of Customs.

The bill defines plastic bags as secondary level plastics made of synthetic or semisynthetic organic polymer. These products are commonly known as “labo” or “sando” bags, with or without handle, used as packaging for or container of goods.

However, the Philippine Plastics Industry Association Inc. (PPIA) told lawmakers the proposal will hurt and eventually “kill” the industry.

The PPIA said members of the industry are currently facing the negative impact of local ordinances banning the use of plastic bag in their areas. Several local government units have already issued ordinances against single-use plastic bags.

Full cash-based budgeting by 2025, DBM chief vows

By Bernadette D. Nicolas

@BNicolasBM

THE Department of Budget and Management (DBM) said it is eyeing full implementation of the cash-based budgeting system (CBS) for the whole government by 2025.

Budget Secretary Amenah F. Pangandaman said last Wednesday the DBM will be pushing for the “gradual implementation” of CBS “to ensure timely and efficient implementation of government programs.”

The DBM is seeking to institutionalize the shift to a cash-based budgeting system through the proposed Budget Modernization bill, one of the priority legislative measures of President Ferdinand r. Marcos Jr.

As opposed to the obligation-based budgeting system, which allows the delivery of contracts beyond the fiscal year, all appropriations under the cash-based budgeting system shall be made available for obligation and implemented only until the end of each fiscal year. Payments for obligations incurred may be settled within the year or up to an extended period of three months after the end of the validity of appropriations, according to the DBM.

“As stated by the President, the CBS will help ensure that every peso budgeted by the government will lead to the actual delivery of programs and projects, especially amid the execution of postpandemic recovery plans, large infrastructure spending, and increased social safety nets,” Pangandaman said in a message aired during the 2022 Economic Forum by the Economic Journalists Association of the Philippines (EJAP) and San Miguel Corp. (SMC). and projects. Pangandaman added the CBS is expected to better planning of government agencies leading to higher utilization rates and improved public service delivery.

Executive Order 91 series of 2019 signed by then-President rodrigo Duterte mandated the adoption of the CBS to speed up the implementation of government programs.

Proposed by the DBM in 2018, the shift to the CBS faced strong opposition from lawmakers who perceived that the move would lead to budget cuts.

The opposition to the proposed shift to the cash-based budgeting system, along with other issues on alleged budget insertions, caused the delay in the passage of the 2019 national budget, which led to the country clocking slower economic growth rates in the first and second quarters.

Rightsizing, procurement

APArT from the institutionalization of the CBS, the DBM is also pushing for the proposed national Government rightsizing program.

Pangandaman also said they will focus on enhancing the Government Integrated Financial Management Information System to improve the cash management of the Bureau of the Treasury (BTr).

She also said the DBM, together with the Department of the Finance, the BTr and the Commission on Audit, will fast-track the development of and implementation of the Budget and Treasury Management System. The latter is an “integrated, web-based and fully-automated system designed to streamline and monitor various financial transactions of government agencies.”

Likewise, the DBM, through the Government Procurement Policy Board, will spearhead the implementation of the Green Public Procurement roadmap, which aims to integrate “green choices” in public procurement.

LandBank lends ₧5.8B to agri sector climate project

STATE-run Land Bank of the Philippines Inc. (LandBank) announced it has approved loans totaling P5.8 billion to 15 borrowers under its Climate resilient Agriculture Financing (Craf) program.

In a statement, LandBank said the program aims to finance farming technologies, systems, facilities and equipment that will help local farms and fisheries become more adaptive and resilient to the effects of climate change, such as severe storms and prolonged drought.

“This modernization is aimed towards improving the production and income of our local farmers while ensuring national food security amid the changing global climate,” LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying.

The Craf program can finance crop, livestock, and fishery projects that utilize climate-resilient technologies, such as the adoption of planting materials and seedling techniques for climate-resistant food crops, pipe irrigation that helps prevent water loss during dry season, and climate-adaptive farming systems such as terracing.

Modern facilities and equipment that minimize harvest and postharvest losses during typhoons can also be financed under the Program, including rice harvesters, dryers and outdoor grain storage facilities.

The Program can also provide credit fund for working capital and the construction of facilities such as greenhouses, reservoirs, rainwater collecting systems, and farm-to-market roads with drainage, and other new and emerging technologies approved and endorsed by the Department of Agriculture (DA) and the concerned Municipal Agricultural Office. under the LandBank Climate resilient Agriculture Financing Program, cooperatives, associations, and private borrowers categorized as single proprietorships, partnerships, or corporations may borrow up to 80 percent of the total project cost. Meanwhile, local government units (LGus) may borrow not more than their net borrowing capacity as certified by the Bureau of Local Government Finance.

Term loans for working capital and permanent working capital are payable up to one year and three years, respectively, while loans for fixed assets and construction of facilities are payable based on cash flow but not more than its economic useful life. The interest rate shall be based on the prevailing market rate.

The LandBank Climate resilient Agriculture Financing Program underscores the Bank’s commitment towards advancing a more resilient agriculture sector while promoting environmental sustainability.

Meanwhile, in his recent State of the nation Address, President Ferdinand Marcos, Jr. identified climate change and its impact on agriculture as one of the top priorities of his administration.

Through the years, LandBank has grown into one of the leading universal banks in the country, while remaining faithful to its social mandate to promote inclusive and sustainable development.

On 8 August 2022, the state-run Bank celebrated its 59th anniversary, representing almost six decades of service to the nation.

Fintech starts campaign to promote QR code use

By Rizal Raoul S. Reyes

@brownindio

FInAnCIAL technology company (fintech) Maya Bank Inc. launched last Sunday in Baguio City a campaign to jumpstart the adoption of Qr Ph in the country.

Maya Bank Co-Founder Orlando B. Vea said the campaign aims to digitalize transactions at the community or grassroots level, starting with public markets and local transportation. The campaign hopes to enable vendors and tricycle drivers to accept digital payments from customers via Qr Ph, the national standard for quick response (Qr) payments. Maya’s Qr codes are Qr Ph-compliant, and its app can scan any Qr Ph-powered transaction, according to Vea, who is also CEO of Paymaya Philippines Inc.

“Public markets are the vibrant hubs of local economies, connecting local and regional food producers, businesses, and transport providers to consumers,” Vea was quoted in a statement as saying. “Creating the ‘digi-palengke’ experience with Qr Ph and Maya’s money platform will accelerate digital adoption and financial inclusion at the grassroots level.”

The executive added the fintech fully supports the “Paleng-Qr Ph” program of the Bangko Sentral ng Pilipinas and the Department of the Interior and Local Government (DILG), starting with this pilot with the Baguio City local government.

BSP Governor Felipe M. Medalla and Baguio City Mayor Benjamin B. Magalong kicked off the program in ceremonies held at the city’s Malcolm Square. merchants with the Qr Ph-enabled Maya Qr. These include market vendors, public utility drivers, bus stations, hotels, restaurants, groceries, pasalubong centers and tourist spots.

“On top of digitalizing the public market, we’re enabling the city’s end-to-end ecosystem from sari-sari stores to government offices and large merchants. And we’re doing this all over the Philippines,” PayMaya Chief Operating Officer Khurram Malik was quoted in the statement as saying.

Malik said that for the past years, Maya Bank has provided vendors in several markets with tools to use to meet the Qr Ph objectives. Among these are: Marulas Public Market in Valenzuela City; Antipolo City Public Market in Antipolo City; Kadiwa rolling stores; and, Divisoria street stalls in Manila City.

The Maya Bank is the first fintech to adopt Qr Ph person-to-person (P2P) payments in 2019 and personto-merchant payments (P2M) in 2021. Since then, Maya has adopted the country’s interoperable Qr Ph standard across its end-to-end digital payments ecosystem, according to the executives.

They added the 50 million registered users of the Maya Bank platform uses an application that can send and accept Qr Ph P2P payments. Meanwhile, non-Maya users can pay at more than 700,000 Qr Ph-enabled Maya Bank-merchant touchpoints nationwide.

Paymaya is one of a dozen electronic money issuers tagged in the BSP’s list of InstaPay ACH participants as of July 31, 2022. It is named as a receiving-only EMI participating in the Qr Ph P2P mode. It is one of five EMIs named in the BSP’s list of Qr Ph P2M participants.

B4 Thursday, August 18, 2022

Envoys&ExpatsBusinessMirror

www.businessmirror.com.ph

SENATE VISIT Senate President Juan Miguel F. Zubiri received Ambassador Michèle Boccoz at the upper chamber. In their meeting, she shared the various events lined up to commemorate the 75th anniversary celebration of Franco-Philippine diplomatic relations. As their countries welcomed new governments, both officials agreed to explore various dimensions to enhance cooperation, especially in defense, renewable energy, and food security. Zubiri also vowed to reinvigorate parliamentary exchanges and dialogues between France and the Philippines, which

have remained strong and robust. SENATE OIRP/RED SANTOS/OFFICE OF THE SENATE PRESIDENT

ACTING ON CLIMATE CHANGE Ambassador Laure Beaufils of the United Kingdom (second from right) launched the “Climate Action Implementation Programme” with Mayor Josefina G. Belmonte of Quezon City (second from left). The former cited the “key role cities play to turn the tide on climate change,” and that her country is proud to work with C40 Cities to support Quezon

City in delivering its bold vision for renewable energy and energy efficiency. TWITTER: @LAUREBEAUFILS

TAIWAN ASSISTS Representative Peiyung Hsu (second from left) of the Republic of China’s Taipei Economic and Cultural Office in the Philippines donated $200,000 as disasterrelief fund to assist Filipinos affected by the recent earthquake in Northern Luzon at a handover ceremony on August 10. Governor Dominic B. Valera of the province of Abra (center) as well as Chair and Resident Representative of the Manila Economic and Cultural Office Silvestre Bello III

(second from right) accepted the donation. FACEBOOK: TAIWAN IN THE PHILIPPINES

PHL raises Asean priorities in foreign ministers’ confab

PHNOM PENH—The Philippines raised various priorities, including the assertion of the Arbitral Award in disputed waters, at the 55th Asean Foreign Ministers’ Meeting and Related Meetings (AMM).

As Philippine leader to the Asean Senior Officials’ Meeting, Foreign Affairs Undersecretary for Bilateral Relations and Asean Affairs Ma. Theresa P. Lazaro represented Secretary of Foreign Affairs Enrique A. Manalo during the foreign minister-level meetings in the Cambodian capital city from July 30 to August 5.

The meetings allowed Asean member-states to discuss issues of common concern with each other and with external partners including, among others, the situation in the South China Sea/West Philippine Sea (SCS/WPS), the Myanmar crisis, pandemic recovery, situation in Ukraine and cross-strait developments, as well as traditional and nontraditional security issues such as climate change, terrorism and cyber security.

Apart from the 55th AMM, other foreign minister-level meetings included postministerial conferences with dialogue partners, the East Asia Summit (EAS) Foreign Ministers’ Meeting, the Asean Plus Three (APT) Foreign Ministers’ Meeting, the 29th Asean Regional Forum (ARF), and the Asean Foreign Ministers’ Interface Meeting with the Asean Intergovernmental Commission on Human Rights.

During the 55th AMM, Lazaro reiterated that the Arbitral Award and the 1982 United Nations Convention on the Law of the Sea, or UNCLOS, are the twin anchors of policy and actions of the Philippines on the SCS/WPS.

She said that while the Philippines remains committed to regional efforts to resolve disputes, it is taking note of the growing list of countries backing the award.

Lazaro expressed hope that the new EAS Plan of Action (20232027), which was adopted during the EAS Foreign Ministers’ Meeting, will fuel the momentum of identifying concrete ways to address pressing regional and global challenges such as public-health emergencies, climate change, and emerging opportunities in digital technologies, among the new generation of issues.

She also announced the Philippine hosting of the EAS Workshop on Maritime Cooperation in Manila in September, underscoring that “maritime cooperation will remain at the heart of Philippine initiatives in the [summit].”

As country-coordinator for Asean-European Union Dialogue Relations, the undersecretary cochaired the post-ministerial conference with the latter. The meet adopted the plan of action to Implement the Asean-EU Strategic Partnership (2023-2027), and approved the convening of the two regions’ Commemorative Summit on December 14 in Brussels to mark 45 years of their dialogue relations.

She also delivered this region’s common statement on the said relations, with focus on cooperation in cyber security, maritime security, trade, connectivity, pandemic response and postpandemic recovery, environmental protection, and addressing climate change.

During the 29th ARF, Lazaro highlighted its importance as a platform for dynamic cooperation on global issues.

UNDERSECRETARY Ma. Theresa P. Lazaro and

Prime Minister Hun Sen DFA

Danish diplomat pays farewell call on SFA

SILLASEN and Manalo DFA-OPCD/VANESSA UBAC

AMBASSADOR Grete Sillasen paid a farewell call on Secretary of Foreign Affairs Enrique A. Manalo at the Department of Foreign Affairs Headquarters on August 10.

On her successful tour of duty, Manalo congratulated Sillasen, who served as the Kingdom of Denmark’s envoy to the Philippines since December 2019.

“I wish to convey my deep gratitude for Denmark’s continued assistance and sharing of expertise in developing renewable energy, including efforts to secure local energy efficient markets,” remarked Manalo.

Among the ambassador’s accomplishments were the valuable assistance in elevating their relations, especially in expanding bilateral trade and increasing the presence of Danish companies in the Philippines.

During the meeting, opportunities to further trade and cooperation in the fields of education, culture, agriculture, and maritime matters were discussed. Both sides agreed to work toward further strengthening the ties between the Philippines and Denmark.

Canada returns to scene via ‘digestive diplomacy’

By Malou Talosig-Bartolome

ONE distinct feature among Filipinos around the world is that we always love to eat. (Filipino nurses overseas have intimated to me that even at the height of pandemic, when a kababayan brings food inside the pantry and with all else fully clothed in personal protective equipment—including other nationalities—everyone just forgets about social distancing.)

So it’s no wonder that when the Canadian Embassy in Manila invited Philippine government officials, law-enforcement officials, business leaders, the local diplomatic community, farmers, students and media for a sit-down dinner, around 1,500 people showed up at the Conrad Manila Hotel in Pasay City!

“Whoa!” I exclaimed upon seeing Public Affairs Head Carlo Figueroa at the function room. “I didn’t expect something this big for a sit-down dinner reception.”

“Flavors of Canada” was the embassy’s first major social salvo since the onset of the pandemic and rightly so, as they are celebrating 73 years of diplomatic relations with the Philippines, and 50 years of the North American country having a full-service deputation in Manila.

Carlo reminded me to proceed to the bar for the special welcome aperitif: a delightful cocktail of Canadian gin, apple juice, calamansi juice, Baguio strawberry compote and lemon soda.

As I sat at the media table, I saw the cocktail glass of ABS-CBN reporter Willard Cheng already half-full. “It’s delicious! Didn’t know it has alcohol!” he beamed. Manila Bulletin columnist Carol Malasig also warned sheepishly: “It’s super masarap. Traydor siya.” So I just took a sip…the only time I was able to discipline myself, as I was my own driver that night. (Note to self: Take a Grab when attending diplomatic functions.)

“Tonight you will experience a taste of Canada, presented by young Filipino chefs combining local and Canadian ingredients in some traditional indigenous cuisine paired with beverages such as our fine wines,” Ambassador Peter MacArthur said as he welcomed guests.

The four-course meal didn’t disappoint. In fact, it exceeded my expectations, and mine were kind of “high,” considering that two chefs also spoke during the opening: Chef Carlo Miguel from Les Toques Blanches and Executive Chef James McFarland from the University of Saskatchewan.

For appetizers, we were introduced to British Columbian salmon cured with can-Natur amble maple syrup, then relished with pickled blueberries, microgreens and purple potato crisps. A nectar-like tiny plastic stick protruded atop the salmon, which was surprisingly the mustard citrus vinaigrette. I was so amazed that I shot a video of myself spreading the vinaigrette atop the salmon for my Instagram story feed. Then I realized, was the vinaigrette for the microgreens? Because the sweetened salmon can already stand on its own.

As I am very much a salad person, I thought the rest of the meal was already a bonus. Oh well, was I wrong. The salmon appetizer followed with a bun that was “food architecture” in itself: it was baked and designed to look like wild mushroom, complete with brown spores on its cap and stalk. It’s so unique you don’t want to mess it up, but since it’s food (plus, we were already hungry), we had to split it. Inside was very soft Canadian pulled pork. There was also black powder around the bun called “forest crumb” (maybe toasted crumbs left behind by Hansel and Gretel?). What stood out though were the green dots around the bun that are actually watercress. Alas, it was a “Wild, Wild West siopao con wasabi!” For vegans, you can skip this paragraph because it’s a sin to omit talking about Canada’s famous protein: beef. Leek-ash rubbed Canadian ribeye with Canadian blueberry jus, “Three Sisters” smoked corn purée, beans and squash, pickled red onion pedals and puffed Canadian wild rice, said the menu.

For me, ribeye was simply the dead giveaway. I thought of my husband who loves steak right away and taught me how to love steak. I’m not a fan of red meat. But this one was very tender and cooked medium rare, I didn’t realize I was also mindlessly drinking the wine being poured in my glass. I checked the menu: baco noir reserve and semillon Sauvignon Blanc barn quilt. “Tomorrow, we need to lift some weights,” I nudged at Carol (who is 20 pounds lighter than me). Of course, that was just my rational mind justifying the caloric intake.

And speaking of calories, did I say I was on a diet? Bannock bread pudding with maple semifreddo and fresh Canadian berries... What the heck is a bannock? So I dug in my dessert fork and tried it. What is semifreddo? Again, fork: Do your thing. Canadian berries? Nah... Oh, there you are... In my mouth.

The food master of that evening was Chef Brown. But he could not have served 1,500 stomachs without the help from students from five Philippine state “U”s: Benguet State University, Central Luzon State University, Central Mindanao University, Don Mariano Marcos Memorial State University, and Mariano Marcos State University. They collaborated with the University of Saskatchewan for this project inspired by Canada’s indigenous culinary heritage.

The Agriculture and Agri-Food Canada, Canada Beef, Canada Pork, and Canadian food suppliers supported this endeavor. In fact, AAFC’s assistant deputy minister and vice president for International Affairs was in town for this event. She said “the Philippines is, for Canada, an important agri-food and seafood export market. [We take] great pride in being a committed trading partner to the Philippines, even at the height of the pandemic, and in contributing to global food security through trade and collaboration.”

Who says diplomacy is for diplomats? How much are the Canadian salmon, maple, pork and beef again?

Need I say the food was delish? I have been blaming the pandemic for my weight gain. But that night, nah… it was Canada’s fault (wink).

AT the ‘Flavors of Canada,’ there was

definitely room for dessert. CANADIAN EMBASSY

www.businessmirror.com.ph

Parentlife

BusinessMirror

Editor: Gerard S. Ramos • Thursday, August 18, 2022 B5

Children are bombarded with violence in the news— here’s how to help them cope

By Nicole Martins & Erica Scharrer Indiana University | UMass Amherst

OVER 100 mass shootings have taken place in the US since the rampage in Uvalde, Texas, on May 24, 2022. Not a single week in 2022 has passed without at least four mass shootings.

With gun violence, war and other tragedies in the news, children are often exposed to scary images and information.

Parents and caregivers are faced with the dilemma of wondering how to speak with their children about the unspeakable. How can adults help children feel safe when imagery about tragedies abounds throughout the media?

We are communication scholars who specialize in children and media. We have extensively studied children’s views of and responses to violence in the media. Our research findings and those of other scholars offer insights into how news can contribute to children’s fears and on how to help children cope.

SurrouNdEd By NEwS aNd iNforMatioN

IN an era of 24-hour news coverage, it is likely that children will come across disturbing news content. For some kids, this exposure is deliberate. Teenagers report that they find it important to follow current events. And more than half of teens get their news from social media and slightly fewer get their news from YouTube.

Children under 12 show little interest in the news, yet many still encounter it. Young children’s news exposure is almost always accidental, either through background television viewing or through family discussions of current events.

No matter how much parents or caregivers try to shield children, then, they are likely to come upon the news.

thENEwS aS a catalySt for fEar

SEVERAL studies have examined children’s fear responses to news. Six months after the 2013 Boston Marathon bombing, Boston-area parents reported that children who viewed more news coverage on the day of the attack were more likely to display symptoms of post-traumatic stress disorder, have behavior problems and show hyperactivity and/or inattention than children who watched less news.

More recently, an international survey of over 4,000 9-to-13-year-olds from 42 countries found that over half of the children were scared by news stories about the Covid-19 pandemic.

Fear and anxiety can also be spurred by exposure to news events that are more commonplace. In a 2012 study of elementary school children in California, nearly half of them said they saw something on the news that made them scared. The news stories that were most frequently mentioned were natural disasters, kidnappings and burglaries.

Sadly, we live in a country where gun violence is common. A 2022 study found that children’s exposure to news coverage of mass shootings not only made them afraid for their personal safety, but was correlated with the belief that their school and society at large were dangerous.

Whether catastrophic or common, fear reactions endure. A survey of college students found that 50 percent of them could remember a specific news story they had seen during childhood that frightened, worried or upset them. The effects included feeling scared and being unable to sleep. And 7 percent of participants said they were still frightened of that event at their present college age.

agE of thE child MattErS

CLEARLY, media can frighten children and adolescents. But decades of research show that frightinducing content does not affect all children the same way. Young children demonstrate what researchers call “perceptual dependence,” which means that they react to stimuli in terms of what those stimuli look, sound or feel like.

This often comes as a surprise to parents, but it helps explain why preschoolers may cry when they see movie characters like the Grinch or E.T. Preschool children are more likely to be frightened by something that looks scary but is actually harmless than by something that looks attractive but is truly harmful.

As children mature, they develop the capacity to be frightened by abstract threats. Studies of children’s reactions to news coverage of wars show that although children of all ages are affected, younger kids respond mainly to the visual aspects of coverage such as homes torn apart, whereas older children are more responsive to abstract aspects such as fears that the conflict will spread.

how to hElp childrEN copE

JUST as age affects how children absorb the news, age also influences which strategies are most effective in helping children cope. Noncognitive strategies typically involve avoidance or distraction. Closing one’s eyes, holding on to an attachment object, leaving the room or avoiding news altogether are examples. These strategies work best with younger children.

Cognitive strategies require the child to think about whatever is frightening them in a different way, with an adult often providing a verbal explanation to help. These strategies work best with older children. When dealing with depictions of fantasy, for example, a cognitive strategy that is quite effective is reminding children that what they see “is not real.”

Unfortunately, mass shootings are real. In these cases, the adult can emphasize that the news event is over, that it was far away or that such events are rare. Providing a reassuring message—that the child is safe and loved—also helps.

rEcoMMENdatioNS for thE youNgESt kidS FOR kids under 7, it is critical to limit exposure to the news. Watching a tragedy on the news can include graphic images and sounds. Very young children will not understand that what they see are replays of the same event and not another tragedy happening again.

Reassure the child. Kids at this age are most worried about their personal safety. It’s important to make them feel safe, even when the adults themselves are worried, as studies show that fear is contagious.

Distraction is also helpful. Although it is important to listen and not downplay concerns, doing something fun together that takes a child’s mind off what is happening can go a long way.

how to hElp kidS iN thE 8-12 raNgE

FOR kids between the ages of 8 and 12, it is still important to limit exposure. Admittedly this is more challenging as children age. But making a concerted effort to turn off the news is helpful, especially if the child is sensitive.

Talk about news. If kids go online, try to go with them. Consider setting URLs to open to nonnews portals. Be available for conversation. Ask kids about what they know. Correct any misconceptions with facts. Listen carefully and ask what questions kids have, and then respond honestly with a focus on the basics. Reassure children that they’re safe and that it is OK to feel upset.

Do something to help. Consider ways to help survivors and their loved ones.

dialiNg iN with tEENS’ NEEdS

WHEN it comes to teens, it is critically important to check in. In all likelihood, teens learn of news events independent of their parents. But parents and caregivers should offer to talk with them to get a sense of what they know about the situation. This also gives the adult an opportunity to listen to underlying fears and offer insights. Again, try to address concerns without dismissing or minimizing them.

Help teens develop news literacy. If parents or caregivers disagree with how a news event is portrayed in the media, they should discuss this with their child. Emphasizing that there can be misinformation, repetition or exaggeration might help teens put tragic events into a wider perspective.

THE CONVERSATION

HOW FLEXIBLE LEARNING CAN HELP YOUR CHILD REACH THEIR FULL POTENTIAL

THE Filipino school system has been the same for 100 years, with children boxed into traditional classrooms and rigid class schedules. But as we’ve observed since the beginning of the pandemic, learning does not have to be restricted to the boundaries of a classroom.

Each child is unique. They differ in how much time they need to learn something, what sparks their interest, and what tools and resources work best for them. So why pigeonhole all students into one outdated learning setup? For many children, flexibility is key to helping them reach their full potential. This is what APEC Schools’ SmartClass offers (www.apecschools.edu.ph). An innovative e-homeschooling program, SmartClass is designed for independent, curiositydriven learners. n LIMITLESS LEARNING. While the traditional setup might work for some, many students today require more breathing room to grow. As a home e-schooling program, SmartClass allows the Filipino child to learn from the comforts of their homes.

Whether they want to breeze through a lesson or to slow down for more in-depth understanding, students can go at their own pace. This way, they no longer have to adjust to their classmates’ learning needs, ensuring that they completely understand the lesson.

Instead of revolving around grades and tests, the platform focuses on honing problem-solving skills. Independent learners are tasked to conduct research and work on case studies across two or more subjects. This way, students are empowered to take control of their education and develop critical thinking and creativity. n A SOLID SUPPORT SYSTEM. Aside from improving the traditional homeschooling paradigm, SmartClass also lets parents be more involved in their child’s education. Unlike most traditional homeschooling curricula where the parent is the child’s primary and only educator, SmartClass parents receive support from professional teachers, coaches and coordinators through one-on-one consultations.

Such a support system ensures that the student is on track, and that they’re inspired to learn so parents can rest assured that they’re giving their child quality education. In fact, SmartClass has the seal of approval from Ayala Corp. and the Yuchengco Group—two formidable conglomerates that partnered to create APEC in line with their commitment to nation-building through affordable but quality education. n AN ADAPTIVE, FUTURE-READY CURRICULUM. With the advent of technological tools, children now have more access to resources that previous generations could not even imagine. Embracing the ever-changing digital world, SmartClass is an innovative learning system that’s built for the future.

As the Filipino child’s educational needs change, so too should the learning systems adapt and evolve. With SmartClass’s flexible learning, the next generation will be empowered to take control of tomorrow.

First smile, first step, first word: Is your baby’s development on track?

THERE is nothing a baby cannot do that will not bring a smile to Mom and Dad’s face. From their adorable babbling to clutching at your finger with their tiny hand, to breaking into a gummy smile and speaking their very first word, a baby’s simple actions always succeed in melting their parents’ hearts.

“In Pediatrics, such actions are known as developmental milestones, or the things most children can do at a certain age,” says Dr. Bernadette Benitez, MD, a Developmental and Behavioral Pediatrics specialist from the Center of Pediatric Development and Rehabilitation of leading health institution Makati Medical Center (MakatiMed, www.makatimed.net.ph). “In the years that a newborn becomes an infant then a toddler, developmental milestones happen month after month, and it is exciting to witness a baby grow up and develop right before our eyes.”

While certain developmental milestones are expected once a baby hits a particular month, parents must remember that each baby is unique and develops at his own pace. “Just because your friend’s child achieved a developmental milestone at the predicted month and yours did not, that does not necessarily mean there is already a problem with your baby,” the pediatrician assures. Developmental milestones are achieved across a given age range, with some children achieving them later than others yet still falling within the acceptable range.

What then can parents look forward to with their newborn in the next 12 months? Benitez offers the following guidelines: n FIRST 3 MONTHS. The first smile happens sometime between their first and third month. “Initially, it will be just to themselves,” she points out. “But within three months, a baby will smile in response to you.”

In this first quarter, babies are also expected to raise their head and chest transiently when lying on from the basic grasping reflex, babies will be able to open and close their hands more often, grasp objects, and bring their hands to their mouth.” n 4-6 MONTHS. A baby’s first laugh can be heard between the fourth and sixth months. This is usually in response to social overtures by adults. “They will also try to ‘speak’ to you by cooing or imitating sounds like ‘oooh’ and ‘ahhh,’” the doctor states. “They will also start squealing and ‘blowing raspberries’ by sticking their tongue out and blowing.”

These are also the months when babies have better control of their hands: note them grabbing objects like toys or your hair and bringing them to their mouth, and trying to reach for dangling objects.

Other developmental milestones at this stage include rolling over from stomach to their back and vice versa; sitting up with support and having great head control; bouncing up and down with their legs when held upright; and responding to their name and different emotions by the tone of a speaker’s voice. n 7-9 MONTHS. According to Benitez the first crawl occurs sometime between a baby’s seventh and ninth month. “Having figured out how to roll over, babies will now start trying to move forward. They do this by scooting [using their bottom to propel themselves forward] and arm crawling [using their arms and legs to drag themselves forward on their stomach] and then to a full crawl on all fours.” Pulling themselves up to an unsupported sitting position along with raking at small objects are other developmental milestones in this quarter.

By now, your baby would be familiar with certain names and words, too: Watch them react when you call their name or say an emphatic “No!” And while they still babble, the sounds that come out of their mouth will indicate emotions like glee, sadness, or displeasure. n 10-12 MONTHS. A baby’s first word—usually “Mama” or “Dada”—will be uttered around the 10th to 12th months. “By their first birthday, they would know how to say at least three words, including expressions like ‘Uh-oh,’ and try to imitate what adults are saying,” says Benitez. Communicating through gestures like pointing at objects they want by using their index or forefinger, waving goodbye or blowing a kiss, and responding to simple verbal requests are also observed at this stage. He/she will also be able to play simple action games, transfer objects from one hand to the other and put them in receptacles. Your baby’s growing social awareness may make him wary of strangers but also begin to enjoy interacting with familiar people. n 1 YEAR. The first steps happen around the first birthday when they succeed in pulling themselves up and moving around on their feet while holding on to furniture for support. “They also would have better use of their hands, using their thumb and forefinger (the pincer grasp) to feed themselves or hold objects like a spoon to bring it to their mouth while feeding,” she explains. “They are now able to find things that you hide [object permanence] and will enjoy a game of hide-and-seek. Socially, they will begin to engage in imitative play with a parent or sibling and follow simple commands.”

“Again, every baby is unique and grows at their own pace. More often than not, minor developmental delays may be temporary and can be overcome through adequate developmental stimulation,” Benitez emphasizes.

“Ultimately, you know your baby best. If you are concerned or observe no progress or change in crucial milestones—for instance, your baby cannot hold up their head in three to four months, cannot sit up on their own in 10 months, or does not babble or say a single word at 12 months—inform your pediatrician immediately. Trust a qualified health professional to assess if your concerns are founded and take the appropriate measures to address any delays.”

B6

Thursday, August 18, 2022

DBP eyes added support to local inventors

STATE-OWNED Development Bank of the Philippines (DBP) is looking at extending financial grants to three outstanding local inventors who recently won a national competition for the most promising solutions and technologies for critical sectors of the economy, a top official said.

DBP President and Chief Executive Officer Emmanuel G. Herbosa said the Bank may provide additional support to the winners of the local competition with the Filipino Inventors Society (FIS) dubbed as “The Inventor’s Pitch,” to facilitate the commercialization and mass production of their products and inventions.

“We are looking to extend financial grants that may be utilized at the inventors’ disposal for the production and commercialization of their outstanding and deserving innovations,” Herbosa said.

DBP is the sixth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.

FIS is a non-government organization of Filipino inventors who hold patents to their works and innovations in the Philippines and overseas. Its membership has widened to include professionals and entrepreneurs who espouse the organization’s cause to develop Philippine indigenous technology and innovations.

Herbosa said the winners of the competition were Rodrigo Duque for his “Portable Unihoused Water Purification and Sterilization Apparatus”, Justino Arboleda for his “Method of Producing Coco Board and Product thereof for Various Housing and Carpentry Works”, and William Chua for his “ManilaBlock: an interlocking building block.”

He said the three were chosen from 11 finalists by a panel of judges composed of top officials from the Department of Science and Technology, Department of Agriculture, Department of Trade and Industry, National Economic Development Authority, Intellectual Property Office of the Philippines, and DBP, with each receiving a cash prize of P300,000.

“DBP hopes that this competition would help raise the level of public awareness on the passion and dedication of our brilliant inventors,” Herbosa said.

DBP Development Advocacy Committee Chair Dante V. Liban said the Bank is committed to scale up financial support to Filipino inventors whose innovative works are pivotal in improving available technologies to key sectors such as health care, environment and agriculture.

He added that DBP will continue to encourage the development of relevant technologies and meaningful solutions to local problems, through its various loan programs and socio-civic undertakings.

“Our goal is to showcase not only the ingenuity of our Filipino inventors but also to catalyze national development, especially in the most crucial yet vulnerable sectors of our economy,” Liban said.

In 2021, DBP partnered with FIS to consolidate support for the development of viable local projects and indigenous technologies while enabling the Bank to advance the provisions of Republic Act No. 7459, or the “Investors and Invention Incentives Act of the Philippines,” which mandates state banks to provide financial assistance to Filipino inventors.

ATTENDING THE INVENTOR’S PITCH AWARDING CEREMONY ARE, FROM LEFT: DBP Executive Vice President Paul D. Lazaro; DBP Development Advocacy Committee Chair Director Dante V. Liban; DBP Director Maria Lourdes A. Arcenas; Inventor Justino Arboleda and DBP President and Chief Executive Officer Emmanuel G. Herbosa.

Huawei and BDO Foundation bring laptops to schools

IN support of the Department of Education’s (DepEd) efforts to give more learners and educators access to computers, BDO Foundation and Huawei Philippines have partnered to provide laptops donated by Huawei to five DepEd schools divisions all over the country.

The partners recently turned over laptops to schools in Marawi City, Lanao del Sur in a ceremony led by Huawei Philippines and BDO Foundation officers.

PUBLIC school students and teachers in Benguet, Lanao del Sur, Negros Oriental, Palawan and Quezon stand to benefit from the donation of laptops. COURTESY CALL. Junca Global Partner, a Japanbased information technology (IT) firm which focuses on developing the digital capability of Micro and Small enterprises represented by its chairman, Dr. Hisayuki Nagatome, recently paid a courtesy call to Senator Win Gatchalian. Among others, the discussion tackled the subject on how to ease of doing business for Japanese entrepreneurs which eventually will facilitate the influx of more investments in the country. “We welcome Dr. Nagatome to the Philippines and we wish him well in his future endeavors here,” Sen. Gatchalian said.

Accepted by DepEd Marawi City schools division superintendent Anna Zenaida Unte-Alonto, the computers were distributed to Banggolo Elementary School, Madaya Lilod Elementary School, Mambuay Elementary School, Mamintal Disomangcop Central Elementary School, Marawi City Elementary School, Marinaut I Elementary School and Marinaut II Elementary School.

A few weeks earlier, Huawei and BDO Foundation also turned over laptops to schools in Dumaguete City, Negros Oriental. The event was witnessed by DepEd Dumaguete City schools division superintendent Dr. Gregorio Cyrus Elejorde, Huawei Philippines public affairs manager Chahol Liang, BDO Foundation president Mario Deriquito and the heads of BDO branches in the city.

The brand-new computers were distributed to Amador Dagudag Memorial Elementary School, Calindagan Elementary School, Cantil-e Elementary School, Hermenegilda F. Gloria Memorial High School, Junob National High School and West City Science Elementary School.

Aside from Dumaguete and Marawi, the corporate citizenship initiative also includes Benguet, Puerto Princesa City in Palawan and Tayabas City in Quezon. The donation forms part of an agreement DepEd and BDO Foundation signed with Huawei, the global leader in information and communications technology infrastructure and smart devices.

Win P500,000 at Klaypel‘s 17th year celebration

THE company’s journey started in 2005 as a loving by-product of bonding between mother, Sue Morales, and daughter, Jela Morales.

Klaypel is a unique art medium made of moist colored paper intended to provide families, friends, and communities with a shared art experience.

“I’d fondly say that we are in the “dutdot business” because of how Klaypel is applied on each Klaypel kit canvas,” says Sue, the founder of Klaypel.

“In our 16 years in the dutdot business, we’ve seen relationships restored; anxiety surpassed; inspiration bloomed; and so much more. This is the power of each Klaypel art kit.”, Sue adds.

True to its mission to spark hope and inspire creativity - one color, one artwork, one story at a time, Klaypel is giving every Filipino artist (at least 18 years of age) , an opportunity to win up to P500,000.

Enter the biggest Klaypel art competition in the Philippines with a theme called “Usbong”, is a Filipino term that means “sprouting; budding; growing”.

Why Usbong? Because Klaypel would like to help artists reignite their passion for the arts and give them a chance to showcase their art work to a broader audience. A culminating activity will follow the Usbong Art Competition in a themed event called “Klaypel Land” which will be held in Clark from November to December 2022.

Learn the mechanics and Register for “Usbong” here: www.klaypelph.com/ usbong. Use the official hashtags: #UsbongKlaypelArtCopetition2022 #KlaypelArt #UsbongPH. If you’d like to be a sponsor of this momentous event, talk to the Klaypel team. Email klaypelph@gmail. com or call 02-8807-4209/ 09456011516.

A new chapter in IT services: Lenovo PCCW Solutions starts first day of operation as a new company

LENOVO PCCW Solutions Limited, the new strategic partnership between Lenovo Group and PCCW set to capitalize on the estimated US$320 billion Asia IT services market, recently marked its first day of operation.

The new company provides one-stop customer solutions that integrate IT services, devices, and digital infrastructure, and empowers clients to transform their businesses and operations with technology – from managing complex integrations to enhancing competitiveness with innovative applications.

Through the partnership, the company benefits from Lenovo’s global footprint in more than 180 markets, broad portfolio of end-to-end solutions, solid pedigree in innovation, and strong go-to-market and delivery capabilities.

Ken Wong, Executive Vice President of Lenovo and President of Lenovo Solutions and Services Group, said, “The partnership marks an important milestone in Lenovo’s service-led transformation journey since the formation of our Solutions and Services Group, as it bolsters the company’s capabilities to drive leadership in IT solutions. The synergy of capabilities and talents across the two organizations will help the new company grow in reach and competitiveness in markets across the Asia Pacific region.”

PCCW Solutions has been ranked number one in Systems Integration and Custom Application Development in Hong Kong SAR by IDC for eight consecutive years since 2014. The new company builds upon PCCW Solutions’ track record as one of the region’s leading IT services providers. The 4,000-strong IT professionals will continue to partner closely with our customers to help them succeed in a more complex and rapidly evolving technology landscape.

Jerry Li, CEO of Lenovo PCCW Solutions, said, “This strategic partnership is a unique opportunity to accelerate the growth of our IT solutions business in the region. The new company, Lenovo PCCW Solutions, enables our customers to call upon a diverse wealth of skills, expertise, and go-to-market capabilities across Lenovo Solutions and Services Group. We are excited to embark on this growth journey, which enables us to expand our skillset, footprint, and solutions portfolio. With the combined strengths of our highly skilled talent, we look forward to contributing further to smart city development in the region.”

Market data estimates the Asia IT services market to be worth approximately US$320 billion in 2022, with expected growth at a CAGR of more than 10% to exceed US$470 billion by 2026. Lenovo PCCW Solutions is uniquely positioned to capture the growth opportunities in the market.

EXCITING COLLABORATION. Sheraton Manila Hotel and American Chamber of Commerce (AmCham) in the Philippines led the signing of the Memorandum of Agreement for the upcoming 120th Anniversary of the Chamber and the launching of the newest events plug and play place, COLLAB on August 24, 2022. Business leaders and corporate decision makers will be in attendance for a one-of-a-kind night of networking, fellowship, exhibition, and entertainment. A symposium titled “MICE is NICE” will also be held featuring tourism’s finest as they share their insights about the industry bouncing back. Signing the agreement are, from left: Sheraton Manila Hotel’s Director of Sales and Marketing Lala Quilantang, Marriott International’s Multi-property Vice President in the Philippines Bruce Winton, Sheraton Manila Hotel’s General Manager Anna Vergara, AmCham’s Executive Director Ebb Hinchliffe, AmCham’s Project Manager Kieroville Rojas, and Sheraton Manila Hotel’s Cluster Director of Marketing Communications Archie Nicasio.

British Chamber’s trade mission pledges support to make the Philippines an investment destination

CHRIS Nelson, Executive Director, and Trustee of the British Chamber of Commerce Philippines (BCCP) underscored President Ferdinand “Bongbong” Marcos Jr.’s pledge to make the Philippines an investment destination.

“First and foremost, the fact that he actually describes that he wants the Philippines to be an investment destination, and that’s the very key of what we are trying to achieve,” said Nelson.

Nelson is also delighted that President Marcos Jr. cited the passage of laws regarding liberalisation of the economy particularly the Public Service Act (PSA) and the Foreign Investments Act (FIA) which the Chamber has been long pushing to be amended.

Additionally, the Chamber is determined to support the government's initiative to draw in more foreign investors. In this regard, the British Chamber will host a two-day virtual Trade Mission in September focusing on the food and beverage sector in collaboration with Kent County Council.

The Trade Mission is organized by the Chamber in support of promoting the Philippines as an investment destination and helping small businesses from East Sussex, Kent & Medway, Essex, and South Essex. The said event activities include market briefing and business matching.

Recently, the Chamber successfully organized a three-day in-person trade mission, which offered UK meat exporters the opportunity to explore the Philippine market and effectively promoted British meat. Further to this, the Chamber will have a follow-up event slated in December.

The Philippines remains an attractive destination for UK investments, furthermore, the promise of the new administration to open up the economy guarantees policy continuity in favour of creating a more investmentfriendly environment for foreign businesses.

Editor: Anne Ruth Dela Cruz

BusinessMirror

Thursday, August 18, 2022 B7

NutritioN Needs should still be addressed amid a paNdemic–experts

By Rory Visco

Contributor

The minimum wage in the National Capital Region (NCR) was increased to P570 last June.

However, inflation and the war between Russia and Ukraine happened. Prices of petroleum products soared and brought about a spike in prices of goods and services, particularly food.

For a nation where malnutrition has been a perennial, chronic and deceptive threat, the biggest victims are the children who are more prone to infections and viruses when malnourished. It was estimated that 30 percent of kids under five years of age are stunted, and the country ranks among the Top 10 globally with the greatest number of stunted children.

And then there is still the raging Covid-19 pandemic.

Food security in the Philippines

DURING the most recent weekly “Stop Covid Deaths” webinar titled “Nutrisyon sa Panahon ng Pandemya: Can P250 a Day Feed a Family?” organized by the University of the Philippines, together with UP Manila NIH National Telehealth Center and in cooperation with UP Philippine General Hospital (PGH), Dr. Cecilia Acuin, Adjunct Associate Professor, Institute of Human Nutrition and Food, University of the Philippines Los Baños, pointed out that according to the Rapid Nutrition Assessment survey conducted by the Food and Nutrition Research Institute (FNRI) among food insecure households in low, medium and high-risk areas in late 2020 or at the height of the pandemic, food insecurity significantly increased way before the inflationary effects on the country’s food supply.

“Right now, the FNRI is already conducting the 2022 version of the survey, and I’m a little bit worried on the country’s state of food insecurity,” Dr. Acuin said.

“We need food for nutrition, and we need good food for good nutrition, and we need good nutrition for good health,” she added.

She pointed out that if households produce part of their own food, it can help lower the cost of producing a nutritious diet. If food production exceeds the household’s own needs, it can reduce the costs of a nutritious diet to almost zero. A “Fill the Nutrient Gap” report by the United Nations’ World Food Program showed that 37 percent of households on average are unable to produce nutritious diet, but if they produce their own food, it goes down to 30 percent.

“If they can produce more than what they need and they can sell the excess like in front of their houses at lower prices, the number of households unable to afford nutritious diet goes down to 14 percent. Best thing, if they can sell their produce at market prices, they can totally afford a nutritious diet, where costs go down to zero,” Dr. Acuin said.

the urban setting

WHILE producing their own food works well in rural or provincial areas, the same cannot be said in the urban communities, where access to food is almost exclusively driven by having enough money to buy them.

Dr. Acuin proposed nutrition-smart agricultural strategies, which she grouped into two: increase density of nutrients per food item, and the best way to do that is through food staples like rice, wheat, root vegetables, meat, fish, milk, and increase the quantity of non-staple food such as eggs, small fish, specific green leafy vegetables. “Quite of number of these can also be produced in urban settings, but it needs cooperation and assistance from the government to enable this.”

Can P250 daily food budget produce a nutritious diet?

ACCORDING to Emilita Lavilla, Head of the Dietary Service of the PGH, the answer to the question is a “yes.”

She said the Department of Science and Technology (DOST), where the FNRI is an attached agency, produced recipes and made substantial research on how Filipinos can respond to the tough times by producing practical ways that can enable households to meet the P250 daily food budget for a nutritious family meal.

Alternative protein sources

LAVILLA said the DOST-FNRI published the 2022 Menu Guide Calendar titled “Nutritious Meals for Healthier Families in the New Normal.” “The recipes made use of alternative protein sources like tofu, monggo, tinapa, dilis, root crops, leafy and green vegetables. Costs of ingredients for the recipes range from P44 to P150, and the recipe is good for a family of five people.”

She said that by looking at the calorie and nutrient contribution of the recipes, people will find that the recipes are able to supply the necessary energy needed by adults and children, including essential nutrients like calcium, iron, or vitamin A.

Some of the recipes in the menu guide include unusual-sounding dishes like Chicken Veggie Nuggets with Fried Egg, Monggo Curry, Kala-Mote (Kalabasa and Kamote) patties, Tokwa Mechado, among others, all within the P250 budget.

“The DOST-FNRI, just like the famous tagline of a bank, found ways on how to meet nutrient requirements within the budget and with what is available.”

AntivirAls needed in PHl’s COnstAnt PAndemiC bAttle

By Roderick L. Abad

Contributor

THE national government needs to plan and look for other ways so that Filipinos can learn to live with Covid-19 amid the slow vaccination rate in the Philippines, according to an entrepreneurial czar.

Go Negosyo Founder Joey Concepcion believes the next step is to stock up on antiviral medicines.

At present, there are two antiviral medicines available through prescription in the country: Molnupiravir and Paxlovid.

Their supply has been unstable, especially with the rising number of Covid cases in recent weeks.

“Antivirals are a way forward considering how vaccinations are going right now and how we have seen cases come and go. We need to bring in antiviral medicines to build up our defenses against Covid,” he said.

Other jabs needed

SINCE viral mutations continue to exacerbate the pandemic situation, Concepcion also recommended that a similar plan for bivalent vaccines must be done, targeting both the original strain of the Covid-19 virus and the highly contagious Omicron variant. “These new formulations will need an EUA [Emergency Use Authorization] if the pharmaceutical companies do not obtain their Certificates of Product Registration by the time the State of Public Health Emergency expires,” Concepcion said.

The EUA is a mechanism that allows the use of medical countermeasures which have yet to receive government approval. The State of Public Health Emergency will lapse in September.

In cases like these, he guaranteed that the private sector is prepared to step in and enter into another tripartite agreement as it did in 2020 with a project called “A Dose of Hope”.

This enabled the Philippines to overcome regulatory roadblocks when Covid-19 jabs were yet to be approved by the Food and Drug Administration.

Utilization guidelines

TO avoid wastage of vaccines, the Go Negosyo founder emphasized that the private sector needs to be assured that this time around, there will be clear parameters on their use.

Likewise, he suggested the country follow the lead of the countries of reference for the vaccines’ utilization.

“The important thing is that the inventory must be there when we need it, and we must be already laying the groundwork now,” he pointed out.

For him, antivirals and bivalent vaccines must form part of the plan so the country can live successfully with Covid-19.

“The first defense is still vaccination, especially the boosters, and this has to become an ongoing activity,” Concepcion said. “Second is the continued wearing of face masks.”

Filipinos remain quite compliant with face mask rules, he observed, while citing that surveys have shown that they will keep on wearing such protective gear even after the health crisis is declared over.

“Third is we need to have antivirals available. Antivirals work if you take them early enough in the illness, and if we prevent people from getting severe illness and being hospitalized or dying, we can learn to manage Covid even as cases go up,” he stressed.

Tech-based company pushes govt ehealth agenda

By Anne Ruth Dela Cruz

AS part of its agenda, the Department of Health (DOH) has stated that both private and government hospitals should invest in ehealth (electronic health) and data for decision making.

The DOH also mandates the use of EMR (electronic medical records) as well as promote interoperability of hospital information system that will enhance the healthcare information exchange (HIE) connecting networks of private and government hospitals across health systems.

This will come in handy with the full implementation of the Universal Health Care Act which provides all Filipinos with guaranteed equitable access to quality and affordable health care goods and services and protected against financial risk.

Health system challenges

ACCORDING to Cris M. De Luna Jr., Managing Director of EHealth Medical and Enterprise Systems Distribution, there are three main challenges to the country’s health system—patient registration, data quality and inefficient policies to better understand the real time information for decision making. De Luna was a guest speaker at the recently held 22nd Annual Convention of PACSSM (Philippine Association of Central Services and Sterilization Management Inc.) where he tackled the topic “Innovation and Transformation in the Healthcare industry: Focusing on AI (Artificial Intelligence), IT (information technology) and Remote Monitoring.”

EHealth Medical and Enterprise Systems Distribution was established primarily for the purpose of identifying hospital ICT (information and communication technology) project engagements by finding opportunities and matching those with company resources and EHealth Medical’s strategic technology of partners and suppliers so that they can come up with a project.

“There is a poor, slow recording, and data processing as well as duplication of processes like repeated recording of the patient’s demographic data and past medical histories from one health facility to another. There is also a very long reporting process,” De Luna said.

Quality of data

DATA quality, De Luna explained is a problem in terms of reliability, timeliness, accuracy, and completeness, which, in turn will affect decision making.

“In terms of inefficient policies, there is poor governance for data security. Many data or health information come from disparate systems and locations with different data formats and lacking in harmonization,” he said.

To resolve the situation, the Healthcare Information Management Systems Society (HIMSS) created the Electronic Medical Record Adoption Model (EMRAM) or EMR Adoption Model. It is an eight-step process that allows users to track their progress against healthcare organizations across the country and view all scores in the HIMSS Analytics Database.

EMRAM measures clinical outcomes, patient engagement and clinician use of EMR technology to strengthen organizational performance and health outcomes across patient populations. The internationally applicable EMRAM incorporates methodology and algorithms to score a whole hospital, including inpatient, outpatient and day case services provided on the hospital environment.

“The system scores hospitals in the Philippines and around the world relative to their digital maturity, providing a detailed road map to ease adoption and begin a digital transformation journey towards aspirational outcomes,” De Luna explained.

Optimize work environments

MEASURING evidence-based data at each stage, organizations use EMRAM to optimize digital work environments, improve performance, and financial sustainability, built a sustainable workforce and support an exceptional patient experience.

Some of the hospitals in the Philippines adopt the EMRAM Electronic Medical record Adoption model and it is estimated that 80 percent of the hospitals in the country have not reached the stage 4, 5, 6 and 7.

This is where De Luna’s team comes in. His company’s solution is to create synergy and interoperability with the goal of meeting DOH’s agenda for private and public hospitals.

“Our goal is to guide, assist, and provide Philippine hospitals with innovative and highlyadvanced technologies and systems in achieving HIMSS EMRAM Level 7 to improve patient safety, increase patient satisfaction, support clinicians and secure data,” De Luna said.

Patient safety

TO improve patient safety, De Luna said the team will evaluate and improve this by optimizing their EMR implementation to provide access to critical information when and where clinicians need it. This will also help increase patient satisfaction as there will be a reduction in time and errors in care delivery.

“An effective EMR is one that is designed for the distinct uses of the clinicians who work with it. The EMRAM ensures the workflow and content in the digital tool meets the needs of the clinical teams while monitoring compliance with approved standards,” he said.

It is also critical that policies and practices are in place for data security to ensure a successful EHR EMR implementation.

“The EMRAM guides the organization in policymaking for the appropriate use of data in the EMR stores and the level of access available to clinician teams and others within the organization,” De Luna said.

Avoid walking in floodwaters to prevent leptospirosis–DOH

By Claudeth Mocon-Ciriaco

LEPTOSPIROSIS is a deadly but preventable disease.

The Department of Health (DOH) said that leptospirosis is transmitted through skin abrasions while walking in moist soil, rice fields, and sugar cane plantations contaminated with the urine of an infected animal, like rats.

One can also acquire the disease through contaminated water like swimming pools, flood waters, accidental immersion, occupational abrasion, or direct contact with urine or even tissues of infected animals.

DOH Officer-in-Charge Undersecretary Maria Rosario Vergeire said that 1,178 leptospirosis cases have been recorded in 2022, of which 165 cases were detected from June 26 to July 23.

Vergeire said that the regions that have recorded the most leptospirosis cases in this most recent period were the National Capital Region (NCR), Cagayan Valley, and Central Luzon.

At least 156 Filipinos have died of the disease.

“We know that every time there is a rainy season, there is flooding, our population then becomes more vulnerable,” Vergeire said as she urged the public to take precautions when wading through floodwaters.

She reminded the public to wear boots, wash their feet after contact with floodwater, and to get checked by a healthcare professional in case of symptoms.

Cause

THE cause of this disease is Leptospira bacteria with an incubation period of seven to 10 days.

Signs and symptoms are fever, nonspecific symptoms of muscle pain, headache, calf-muscle pain, and reddish eyes in some cases while severe cases result in liver involvement, kidney failure or brain involvement.

“Thus, some cases may have yellowish body discoloration, dark-colored urine and light stools, low urine output, severe headache,” the DOH said.

For treatment of leptospirosis, the physician may prescribe antibiotics.

“Early recognition and treatment within two days of illness will prevent complications of leptospirosis, so early consultation is advised,” the DOH added. W ITH the continued threat of getting Covid-19, more Filipinos are becoming health conscious and are fortifying their immune system holistically through balanced diets, vitamin supplements, sufficient rest, and a positive mindset.

Add to these a slew of over-the-counter (OTC) preparations to help protect us from harmful viruses and bacteria that cause illnesses and their attendant bodily discomforts.

The latest to hit the market is the newly launched throat spray brand Covidone TS, an antiseptic spray that kills 99.9 percent of germs and viruses in the throat and mouth, protecting these from insidious infections such as Covid-19.

As a 0.5 percent active povidone-iodine spray, Covidone TS works as an antiseptic like povidone-iodine when applied to external wounds. When sprayed directly into the throat and oral cavity, Covidone kills the pathogens that cause throat disease and, in the process, helps relieve the pain and swelling that result from it.

“We believe we’ve found a convenient way to give consumers the ultimate piece of Covid armor they need to feel protected and secure when stepping out of their homes,” says Nutrana Health and Wellness Co CEO Ernesto Abad II. “In addition to face masks, handwashing, and rubbing alcohol, a few throat sprays of Covidone provides an extra layer of protection that gives you that feeling of reassurance.”

Abad likewise believes that other viruses could come in the wake of SARS-CoV, maybe far less serious ones but which could cause upper respiratory tract infections (URTI) accompanied by throat pain and mouth sores. Thus, he takes pride in the accessibility of Covidone, largely thanks to its OTC status. “You can avail of Covidone anytime to ensure you stay safe, healthy, and comfortable,” he affirms.

Abad also shares that Covidone was a product of the company’s dedication to its corporate social responsibility and close cooperation with healthcare professionals who shared the same mission of helping the government and the country’s frontliners stem the transmission of the coronavirus.

“We are a company that cares,” says Abad. “Covidone is our way of showing that we care by giving everybody one more step to being safe from the virus and ending it once and for all.”

Abad reminds everyone, however, that Covidone cannot take the place of immunization and government-mandated health protocols. He advises users to follow instructions when applying Covidone TS spray to their throats.

“Make sure to exhale and say ‘aah’ because you don’t want to inhale the substance,” says Abad, who warns that doing so could produce adverse effects. “Also, the liquid must not remain in your throat for more than 15 seconds; be sure to spit out the excess fluid once you’re done.”

Get Covidone Throat Spray at Lazada or Shopee, as well as select drug stores, grocery stores, and supermarkets nationwide. Direct purchase at covidone.ph will also be available soon!