BusinessMirror August 22, 2023

BSP joins UN responsible investment network

IN a bid to strengthen its sustainability efforts, the Bangko Sentral ng Pilipinas (BSP) signed the United Nationssupported Principles for Responsible Investment (PRI).

T he PRI is the leading global network of public and private institutions committed to incorporating environmental, social and governance (ESG) considerations into their investment practices.

T he network was developed in 2005 by a group of the world’s largest institutional investors in a process convened by then United Nations Secretary-General Kofi Annan. By signing the PRI, investors commit to integrating ESG issues into their policies, where consistent with their fiduciary responsibilities.

We are extremely pleased to welcome BSP as a PRI signatory. As the central bank for the Republic of the Philippines,

BSP has a broad mandate and responsibilities, and a unique opportunity to influence the responsible investment ecosystem in the market,” PRI CEO David Atkin said.

BSP is to be commended for its commitment to incorporate ESG factors into its ownership and investment decisions, and we look forward to working with the team,” he added.

W ith this, the BSP complements its membership to the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) and is part of the BSP’s 11-point Sustainable Central Banking (SCB) Strategy.

T he BSP recognizes that in fulfilling its mandates, it must take concrete actions in promoting the sustainability agenda.

Joining the PRI aligns with the Bank’s mission and values.

T his initiative allows the BSP to

deepen its understanding of responsible investing, enhance the inclusion of ESG factors into the overall investment process and decision-making, benchmark its practices with other PRI signatories, and thereby, help achieve the BSP’s sustainability objectives.

E arlier, BSP Governor Eli Remolona Jr. said the BSP intends to strengthen its research capabilities in its quest to deepen capital markets to make the financial sector sustainable.

R emolona said the BSP is committed to contributing to the country’s efforts to achieve net zero through its 11 sustainability strategies.

O ne of these is to mandate banks to make climate-related disclosures. He explained that banks would be tasked to report which of their loans and assets is good, bad, or worse for the climate.

See “BSP,” A2

NO ‘EASY’ TAXES; M.I.F. TO PAD DEBT—MEDALLA

By Cai U. Ordinario @caiordinario

THE tax reforms undertaken in recent years have left the government scraping the bottom of the barrel of “easy” taxes that could help shore up additional funding for its various projects and programs without taking in more debts, according to former Bangko Sentral ng Pilipinas (BSP)

Governor Felipe M. Medalla.

Given this, fiscal discipline is needed now more than ever, said Medalla, also a former Socioeconomic Planning Secretary.

A ddressing a recent forum at the University of the Philippines School of Economics, Medalla said, however, this does not mean reducing spending but “slowing down increases” in spending. In a presentation, he noted that the country’s debt has risen considerably, up to 74 percent [of GDP] between 2019 and 2022.

“ I think this to me, this is my worry, that the relatively easy taxes are not available anymore. When you start thinking [about] taxing junk food, you’re really scraping the bottom and that’s why I think the only solution is some control over current expenditures,” Medalla said in his presentation.

Medalla said it took about 75 to 77 years for the country’s debt to reach P6 trillion, and the process started sometime in 1946-1948, after World War II. But, he said, it only took six years for that number to more than double in recent years.

However, this trend could be erased by fast economic growth of about 7 percent annually, according to Medalla. Nonetheless, this still means that revenues must grow faster than economic growth and the government adheres to fiscal discipline.

“ There’s a long story to it, which I don’t have time to sell but at any rate, this is now a big dilemma that we have to face. Now the good news.

If we grow very fast, the problem will solve itself,” Medalla said.

30% CUT IN D.A. BUDGET COULD DERAIL MARCOS C.S.F. PLANS

By Jasper Emmanuel Y. Arcalas @jearcalas

THE reduction in the agriculture department’s budget for infrastructure program by almost 30 percent could derail President Marcos’s plan of building more cold storage facilities (CSF) for commodities nationwide, according to a policy study.

T he Congressional Policy and Budget Research Department (CPBRD) noted that the Agriculture Machinery & Equipment, Facilities and Infrastructure Program (AMEFIP) by the Department of Agriculture (DA) is anticipated to have a 27.2-percent budget slash next year.

I n its latest Agency Budget Note

(ABN), the CPBRD, citing economists and experts, emphasized that the funding reduction could have negative implications on the state’s goal of improving the country’s agricultural value chains.

Under the 2024 National Expenditure Program, the budget for the AMEFIP would be at a three-year low of P8.299 billion, about P3.097 billion lower than its P11.396 billion budget this year.

W ith the reduction, the share of AMEFIP to the total value of programs of the agriculture department shrank to 8.6 percent from 12.5 percent this year.

T he AMEFIP budget is lodged to the Office of the Secretary’s total allocation.

T he CPBRD cited a 2023 budget analysis report by a group of experts and analysts led by Finance Assistant Secretary Karlo Fermin S. Adriano in emphasizing the implications of the lower AMEFIP funding next year.

Former Agriculture Secretary Senen Bacani served as Senior Adviser for the budget analysis report titled, “Increasing Food Prices and its Impact on Food and Nutrition Security.”

Adriano, et al [2023] pointed out that the reduction seems inconsistent with the goal of strengthening the local supply chains through the enhancement of agricultural productivity and expansion of access of farmers and fisherfolk to markets in

Local rice prices still rising–new DA data

By Samuel P. Medenilla @sam_medenilla

LOCAL rice prices continue to rise amid market concerns on the potential impact of the El Niño phenomenon on agriculture, according to new data from the Department of Agriculture (DA).

I n a statement issued by the Presidential Communications Office (PCO), DA said its Philippine Rice Information System showed that the average prices from January to June this year for palay or unhusked rice were P19.5 per kilo for dry and P17.4 a kilo for fresh.

T hese were higher compared to the average prices of palay in the same period last year, which was P18.3 per kilo for dry and P15.9 a kilo for fresh.

L ast April, the price for dry palay reached even as high as P20.39 per kilo, while for fresh palay it was at P17.66 a kilo.

T his after the Philippine Statistics Authority (PSA) reported the country’s rice inventory in April dropped by 26.5 percent compared to the same period in 2022.

S ebastian noted the trend has led to more profit for farmers.

“ For the longest time, Filipino farmers have always been at the losing end of the rice sector. But now, Filipino rice farmers are enjoying better prices from their fresh harvest, perhaps sparked by global fears of a shortage resulting from the adverse impact of El Niño forcing world suppliers to tighten supply in the world market,” the DA official said.

the 2024 Budget Priorities Framework,” the CPBRD report read.

T he CPBRD noted that the funding for the establishment of CSFs and other post-harvest facilities could come from the AMEFIP.

No less than the President who is the concurrent DA secretary has called for the building of more storage facilities for onion and for fish to reduce post-harvest losses,” according to the report.

A driano et al.’s report explained that while AMEFIP’s funding has been mainly allocated for farmto-market road projects, there has been a recent shift towards the provision of agricultural machinery, equipment, and support services.

C onsumers, however, had to shoulder additional expenses because of the high rice prices.

B ased on the price monitoring of DA in Metro Manila markets, the price of local commercial rice last July 29 ranged from P37 to P60 per kilogram (kg), which was higher compared to the P38 to P50 per kg in the same period in 2022.

A s of August 21, the price of local commercial rice has risen to between P55 to P62 per kg.

M alacañang and DA have been issuing statements assuring the public the country will have sufficient rice supply until the first quarter of 2024 especially with the ongoing harvest season, which is expected to peak by late September to October.

T he additional rice supply is projected to help in stabilizing the price of the food staple in the coming weeks.

Amid the backdrop of the setting sun at Binangonan Passenger Terminal en route to Talim Island, a lone passenger’s silhouette stands poignant, while the memory of a recent tragic incident looms: over 20 lives were lost when the motorboat MB Aya Express capsized on July 27, the second maritime disaster this year after 33 people died in an 8-hour ferry fire in Basilan in March. The terminal now houses a Coast Guard kiosk. BERNARD TESTA

WOMEN’S WORLD CUP CHAMPS Spain is hailed as the FIFA Women’s World Cup champion following a 1-0 victory over England in the final on Sunday at the Stadium Australia in Sydney, Australia. Story in B8 Sports AP

Tread carefully on hiking minimum wage, govt told

By Cai U. Ordinario @caiordinario

I n a recent forum hosted by the University of the Philippines School of Economics, former Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said high minimum wage rates could hurt the competitiveness of the formal sector over the informal sector.

M edalla said this could also fuel inflation as high minimum wages will only prompt firms who can afford it to pass on the cost to their customers. Firms that cannot afford it may resort to bribing the labor inspector or close down.

First, many firms are really incapable of paying, so what do you do? Exempt them? That’s not minimum wage. The other one... is if you don’t exempt them, what

will they do? They will bribe the labor inspector? You turn them into criminals? See? These are the problems  possible when your minimum wage is too high. It’s like saying everyone should wear size 6 shoes. The solution [creates] a new set of problems,” Medalla told reporters. I f the formal sector becomes uncompetitive, it will be difficult for the economy to grow faster as, Medalla said, the formal sector is more likely to pay taxes and create value for the economy, which leads to faster GDP growth.

T he issue of minimum wage has plagued the economy for decades.

Medalla said proof of this is that the second PhD dissertation at the UPSE was already about minimum wage.

It was, however, welcome that at some point in the country’s history, Medalla said, the government decided to make the decision on wages a less arbitrary one. Previously, he said, Congressmen and Senators would try to “outdo each other [in] raising the minimum wage.”

He said this changed with the creation of the Regional Tripartite Wage and Productivity Board. The members of the board include workers and employer representatives as well as the Departments of Labor and Employment and Trade and Industry.

I n case of a tie in their votes, the tie-breaker would be the National Economic and Development Authority (Neda), which Medalla led during the brief Estrada administration. The Neda is also part of the board.

This [Regional Tripartite Wage and Productivity Board] has worked for us for quite some time. By the way, do not take it for granted that it will always be there. Because it’s very, very attractive [to] raise the wages, raise the wages. After all, the firms can afford it. Yes, the firms that are still around will be able to afford it,” Medalla said in his presentation.

No huge impact

MEANWHILE , BSP Deputy Gover -

nor Francisco Dakila Jr. told reporters that a wage hike may not have a significant impact on inflation and will not cause inflation to breach the central bank’s targets.

D akila said most of the impact of the higher wages will be felt next year when inflation is already expected to be within the BSP’s targets.

E arlier, BSP said local supply chain issues are also part of the data that the Monetary Board is considering this time. Sticky inflation has plagued the country and peaked in January 2023 when inflation hit 8.7 percent.

However, the increase in commodity prices slowed to 4.7 percent in July, giving the BSP confidence that it is now on track to attain the inflation target range of 2 to 4 percent by the fourth quarter—or earlier, according to Dakila.

B SP Governor Eli M. Remolona Jr. said, nonetheless, that the BSP is already “within striking distance” of the inflation target this year and will certainly hit it in 2024 and 2025.

O n Thursday, the Monetary Board decided to again maintain its key policy rates, the third pause since May 2023, in hopes that the third time could work as a charm to boost the economy and allow inflation to further moderate.

The only problem is what if the economy doesn’t grow at that rate [7 percent], what if it goes back to its usual five to 5.5 percent? Okay, so this is a problem that we’ll have to face, but my own view is this can be solved too because the fastest-growing expenditure was current operating expenditures, that’s where the focus of the discipline [will be],” he also said.

O f the difficult tax reforms that can be undertaken—should the government be keen on introducing these reforms—those in the Bureau of Customs (BOC) and the Bureau of Internal Revenue (BIR) top the list.

T hese difficult reforms mean forcing all settlements to be done electronically to avoid bribery. He added that in the BIR, it is also important to raise salaries and make the work more performance-based.

Maybe it’s easier to fire than not hitting the targets. But that requires a new law. In the past there was a suggestion, it’s called IRMA. Internal Revenue Management Administration,” Medalla told reporters.

Maharlika as debt

MEDALLA also expressed reservations about the Maharlika Investment Fund (MIF) which was recently signed into law. His view is that all funds that will go into the MIF will essentially lead the national government to more debt.

M edalla said the dividends of the BSP, which traditionally went to the national government, will now be invested in the MIF. Given this, the move will create a vacuum with the loss of the dividends from the central bank to public coffers and thus require seeking out new loans.

Philippines (DBP) as well as other buyers of government securities wanting to invest in the MIF, the government would now be prompted to approach new lenders for its securities.

W hen asked if the UPSE paper opposing the MIF was released too late, Medalla said, it was not late; but that the process of the approval of the MIF “was too fast.”

I think it’s already there, and let’s see what will happen. I really thought that there’s no wealth to manage. Rules of accounting, any money that goes there is taken from somewhere else. Since somewhere else is financed by borrowings, then that’s clearly direct borrowing. Either that or someone else will suffer,” Medalla told reporters.

Medalla admitted that he was not in favor of the creation of the fund from the start and had the impression that even the President was not also sold to the idea before he took office.

S o he said the “curious” aspect of the MIF was what happened in between the time the President assumed office and the time the decision was made to create and approve the MIF.

Earlier, Finance Secretary Benjamin E. Diokno said the MIF will not suffer the same fate as the infamous 1MDB fund of Malaysia because it will have enough accounting and transparency safeguards.

Decreasing infrastructure support may have implications on the provision of key machinery, equipment, and facilities to not only increase productivity in planting and harvesting, but also in prolonging food storage and improvement of food-processing,” the report read.

A driano et al.’s report emphasized that the need for CSFs and post-harvest facilities “has been repeatedly raised” amid transboundary animal diseases outbreaks in the country such as African swine fever and calls from industry groups like the Philippine Chamber of Agriculture and Food Inc.

“ While a decrease in the DA’s budget for infrastructure support does not necessarily withhold budgetary support from CSFs and postharvest facilities, it is still worth noting that a substantial reduction in budget support would limit the capital outlays to support the agricultural sector—possibly forcing a trade-off between the machineries, equipment, and facilities provided,” they said.

T he report also noted that there is no specified amount for the establishment of CSFs and postharvest facilities in the proposed 2024 budget. “That is, they are aggregated or taken together under more general infrastructure support programs—including those that may be less urgently needed,” the authors said.

In acknowledgement of the role of CSFs and post-harvest facilities to food security, perhaps special provisions or appropriations may be allotted for these facilities. Hence, even with the reduced infrastructure support budget, these may still be given priority,” they added.

I n March, Marcos Jr. ordered concerned agencies  to prioritize the construction of cold storage facilities at 11 fish ports and modernize fishponds as well to reduce the country’s dependence on fish imports. (Related story: https://businessmirror.com. ph/2023/03/14/pbbm-buildcold-storage-facilities-at-major-fish-ports/)

H e added that with the Land Bank of the Philippines (LBP) and Development Bank of the

T he taxonomy to be used for this disclosure system, Remolona said, is being crafted together with climate scientists. Some of the questions that will be asked include whether bank’s loans or assets slow down or accelerate climate change and promote carbon emissions or absorb carbon emissions.

E ach metric, Remolona explained, will be weighted, allowing the BSP to give each bank an overall rating in terms of its role in climate change.

T he 11 sustainability strategies of BSP include vulnerability assessments; enhanced disclosures; climate stress testing; environmental and sustainability risk in prudential policy; and climate change in monetary policy.

T he strategies also include incentives for green lending; sustainability in BSP’s portfolio and risk management; task force for inclusive green finance; sustainability in BSP’s operations; and capacity building.

P resident Ferdinand R. Marcos Jr. expressed concern that the waters of Manila Bay “were gone” so government will be suspending the reclamation projects due to “management issues.” While he did not mention it, the United States government also pointed to security issues over the reclamation projects, which use the services  to China Communications Construction Co. The firm, said the US Embassy in a news statement on August 2, has a “role in helping the Chinese military construct and militarize artificial islands in the South China Sea.”

A t least 22 reclamation projects in Manila Bay will be reviewed and evaluated by the Department

D iokno said the Philippines may miss a lot of opportunity cost if the MIF will not be enacted since there are a lot of projects that could provide higher yield for the national government. S ome of the areas the MIF could invest in are infrastructure projects like tollways, which generate a steady flow of revenue, Diokno explained. The Finance chief said the MIF will allow the government to invest in full or partial in investment portfolios that it would deem be beneficial to the country.

I n its maiden Sustainability Report, the BSP outlined its progress in advancing the sustainability agenda in the Philippine financial system toward creating more sustainable, inclusive, and resilient societies and economies.

T he BSP said demonetized and mutilated banknotes undergo a shedding process that allow these to be converted into briquettes that can be used as alternative fuel source for biomass gasification facilities.

B SP said its regional office in Greater Manila generated a total of 1.17 million kilo grants of briquetted banknotes that were properly disposed of and re-used as an alternative fuel source.

T he central bank also entered into a contract with a service provider that will use the briquetted retired banknotes, banknotes securities waste, and other non-briquetted security waste as alternative fuel for cement manufacturing, instead of using coal and other types of fuel fossils. Cai U. Ordinario

of Environment and Natural Resources, according to its Secretary Ma. Antonia Yulo-Loyzaga in a news briefing on August 10. Yet no written suspension order bearing the President’s signature has been released to the public so far, even as DENR sources assured there was one, although none of them have seen it either.

I n July, DENR Undersecretary Jonas Leones had defended the Manila Bay reclamation projects, telling reporters that nine of these projects amounting to some P331 billion, including that of Pasay City’s, could “spur economic development.” The DENR is supposed to issue an environment clearance certificate before reclamation projects are carried out.

THE national government should tread carefully on proposals for minimum wage adjustments as very high increases could lead to the deterioration of quality jobs in the formal sector, according to a former Socioeconomic Planning Secretary.

No processing of amnesty application pending new Palace issuance–NAC Comelec includes 10 ‘embo’ barangays in Taguig BSKE

as part of Taguig City.

By Patrick V. Miguel & Claudeth Mocon-Ciriaco @claudethmc3

By Samuel P. Medenilla

@sam_medenilla

Efforts by the National Amnesty Commission (NAC)

to process amnesty applications of combatants or rebels remain on hold pending a new issuance from President Ferdinand R. Marcos Jr.

In a television interview with PTV last Monday, NAC Executive Director Maria Victoria Cardona explained the new presidential proclamation is necessary to extend the filing of the amnesty applications.

The filing period already lapsed last February, a year after former President Rodrigo R. Duterte issued the proclamations granting amnesty to qualified members of the Moro Islamic Liberation Front (proclamation 1090), Moro National Liberation Front (proclamation 1091), and the Rebolusyonaryong Partido ng Manggagawa ng Pilipinas/Revolutionary Proletarian Army/Alex Boncayao Brigade (proclamation 1092).

NAC, Cardona said, was unable to process any application during the said period since its chairperson, Leah Tanodra-Armamento, was only appointed last January.

“Currently, we have not processed [amnesty] applications because the application period issued by…[former] president [Duterte] in February 2021 already expired or

lapsed,” Cardona said in Filipino.

The NAC will process the applications, which were already vetted by the local amnesty boards nationwide.

NAC is now waiting for Marcos to issue the necessary proclamation for the extension in line with his commitment during his second State of the Nation Address (SONA) to provide amnesty to all rebel returnees.

The Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU) earlier said the President is expected to finally issue the new proclamation within the month.

“This [amnesty] will serve as the bridge to give combatants or rebels, who probably because of injustice, poverty, or other reason took up arms against the government, a second chance or another opportunity for a new life, engage legally with the government and become productive citizens of our country,” Cardona said.

Cardona said they hope the extension will finally allow the members of the Communist Party of the Philippines-New People’s Army-National Democratic Front to those qualified for the amnesty.

She noted the previous amnesty period did not allow communist rebels to submit applications to the NAC after the Senate failed to concur with Duterte’s proclamation enabling it.

According to a memorandum dated August 19, the barangays in Parcel 3 and 4, psu 2031 are now “part of Taguig City for purposes of the 2023 BSKE.”

The memorandum was signed by Director IV Consuelo Diola, citing the Supreme Court (SC) decision in G.R. No. 235136 Municipality of Makati vs Municipality of Taguig.

According to Chairman George Garcia, voters from affected barangays no longer have to register again for the upcoming elections.

In the memorandum, the poll body also outlined a plan in various departments for a smooth transition.

SC ruled in 2021 that the Fort Bonifacio Military Reservation, covering Parcels 3 and 4, psu 2031,

Makati City filed for a motion for reconsideration in 2022 and 2023 but these were denied by the High Court.   BSKE will be held on October 30 this year.

‘Wise and prudent’

T H E City of Taguig on Monday urged Makati City officials to demonstrate a spirit of cooperation and respect following Comelec’s recognition of the 10 embo barangays as being part of Taguig in the upcoming BSKE.

Taguig called Comelec’s decision “wise and prudent.”

“Let us work together for the community in assuring a seamless transition for our Barangay and SK officials. Embracing this outcome with unity, open communication, honesty, and truthfulness will undoubtedly contribute to the betterment of all residents involved,” Taguig said in a statement.

IPOPHL confirms renewal of ‘Eat Bulaga’ trademark

The Intellectual Property Office of the Philippines (IPOP h L ) on Monday confirmed the approval of the renewal of the e a t Bulaga trademark of Television and Production e x ponents Inc. (TAP e )

“IPOP h L confirms the approval on June 14, 2023 of the request to extend the term of registration over e AT BULAGA AND e B

c overed by TM Reg. No. 42011005951, for Nice Classes 16,18,20 and 25 for another 10 years,” IPOP h L said in a statement. According to IPOP h L , the renewal process strictly observes an “ex-parte” nature prescribed by Republic Act 8293 or the Intellectual Property Code.

Under the law, requests for renewal should be granted “primarily” if the

registrant can prove the actual and continuous use of the mark.

“Moreover, as the renewal requests and other pending applications at the Bureau of Trademark [BOT] are separate from the trademark cancellation case at the Bureau of Legal Affairs [BLA], they do not affect the BLA’s disposition of the merits of the trademark cancellation

It added: “The Honorable Commission’s decision is in compliance with the Supreme Court’s decision which is clear and unambiguous. It is also the proper attitude and conduct approved and encouraged by the Supreme Court in Camarines Norte v. Province of Quezon [G.R No. 80796, 11 October 2001] and Provincial Government of Quezon v. COMELEC [G.R No. 132885, 11 October 2001].”

The Comelec’s move to fully implement the SC’s final and executory decision in the territorial dispute is highly commendable, Taguig said, adding it stands as a testament to its commitment to upholding justice and ensuring peaceful and orderly elections.

“We again ask all government agencies to help ease the tension among our people by complying without delay with the Supreme Court’s decision,” Taguig said stressing that the residents in the embo barangays “need and deserve that help.”

case,” IPOP h L noted.

According to local reports, the Bureau of Trademarks, an office under IPOP h L , issued the Certificate of Renewal of Registration for the e a t Bulaga and e B trademarks and logos to TAP e early August.

The Certificate of Renewal of Registration showed that the date of registration was on June 14, 2013, while the date of renewal is June 14, 2023. With a term of 10 years, TAP e Inc. owns the trademark of e a t Bulaga until 2033. Andrea E. San Juan

the Commission on elections (Comelec) released the guidelines for the administrative transfer of 10 barangays from Makati City to Taguig City for the upcoming Barangay and Sangguniang Kabataan elections (BSKe).

Amid reported plan to import rice anew from India, group presses NFA abolition

By Raadee S. Sausa @raadeeboy

THE Samahang Industriya ng Agrikultura (Sinag) on Monday proposed the abolition of the National Food Authority (NFA) over the agency’s alleged preference to import rice rather than buy from Filipino farmers.

In a statement, Rosendo So, president of Sinag, said that the latest “showcase” of NFA’s “skewed preference” for imported rice was the ongoing negotiations with India for rice procurement.

“They’re not buying from our farmers anymore. They’re buying from Vietnam, India. They’re negotiating on rice. What’s this!,” So said.

The Sinag official also expressed fears that funds for buying local produce might be diverted to the procurement of rice from India.

“The NFA power is to buy palay isn’t it?” So asked. “What are they doing, negotiating with India to buy rice?”

“They might use the money allocated to buy domestically produced palay to acquire imported rice again,” So added, referring to the agency’s P8.5 billion available funds for procurement of rice.

Also, the NFA’s tack seems to be contrary to the policy of President Ferdinand Marcos Jr. who wants to ramp up domestic production in agriculture.

“For the past administration, the direction was to import,” So said.

“In President Marcos Jr.’s administration, he wants local production, so a lot of Filipino farmers were encouraged to return to farming but then again the NFA’s policy seems contrary to this,” he noted.

If the NFA will not help the country’s grain and farming industry by buying domestically produced rice then the agency should be abolished, he added.

“Since they are running contrary to the President, the NFA is not helping by buying ‘palay,’ then we should just abolish the NFA,” So said.

The Sinag chair also questioned the NFA’s decision to source Philippine rice stocks from

abroad when it could buy rice at a much lower rate in the country’s other agricultural regions.

So cited Philippine Statistic Authority (PSA) data showing average buying rates for a kilogram of domestically produced palay was between P18.50 and P19.

The NFA can always look for prices lower than these in other regions, he said.

“Buying rates in other areas are lower, so they should have bought there, right? They should have bought there already,” So said.

“If you are comparing price ranges, especially in Nueva Ecija, prices there are really high. But if you will check on Mindoro and other areas, prices there are lower,” he said.

So also scored the NFA for justifying importation by announcing it only has 46,000 metric tons of rice left in its inventory, which is good for just 1.3 days.

But this is the fault of the NFA, So said, since it has not been buying locally-produced rice to add to its stock.

“That is their fault, why did they not buy more palay in the first place? That is their mandate, which is to buy locally produced palay,” he said.

He recalled the NFA saying at a congressional hearing that it still has P8.5 billion left for rice procurement, which was enough to buy palay at P19 per kilo.

So said the amount of palay that can be bought with P8.5 billion translates into 290,789 metric tons of rice which is more than enough to boost the country’s buffer stock.

The Philippines’ daily consumption rate of rice is 35,000 metric tons.

“The NFA should have sufficient buffer stock if they bought ‘palay’ ahead of time, the problem is they did not buy any,” So said.

Jayson Cainglet, executive director Sinag, for his part, said “we would rather hear it from the President that he wants NFA to import rice.”

“What we heard from the President is that there is no rice shortage and he wants DA to increase local production,” he added.

Cainglet said that some DA officials have long been misquoting the President.

One thing is clear though, there is a push by certain officials of the DA to call (in

Sen. Go extends assistance to Mendez, Cavite indigents

SENATOR Christopher Lawrence “Bong”

Go, an adopted son of the Calabarzon Region, in collaboration with the Office of Mayor Cocoy Mendoza, assisted indigent residents of Mendez, Cavite on Friday, August 18.

During the activity held at the municipal hall covered court, Go’s team distributed vitamins and masks to 250 beneficiaries. The senator also gave away shoes, and balls for basketball and volleyball to select recipients.

Meanwhile, the Department of Social Welfare and Development (DSWD) provided financial assistance to qualified beneficiaries.

As chairperson of the Senate Committee on Health and Demography, Go reminded residents who need medical attention to avail themselves of the assistance provided by the government through the Malasakit Centers at the General Emilio Aguinaldo Memorial Hospital in Trece Martires City, and Southern Tagalog Regional Hospital in Bacoor City.

The Malasakit Centers Act of 2019, which Go principally authored and sponsored, brings together various government agencies, such as DSWD, Department of Health (DOH), Philippine Health Insurance Corporation, and Philippine Charity Sweepstakes Office, under

the guise) for a “review of the RTL” with the single objective of allowing the NFA to import, Cainglet added.

Seek addl budget—PRISM

THE Philippine Rice Stakeholders Movement (PRISM) urged the NFA to seek additional budget from Congress to strengthen the country’ rice production capacity rather than pushing for importation of the staple grain.

“As farm gate cost [currently at P21 to P25 per kilo of palay- fresh palay] are affected by price fluctuations in the market, we urge the NFA, whose current support price of P19 per kilo [clean and dry] is far below the current farm gate price, to seize the ongoing budget season and approach the Congress for higher budget allocation that will benefit local farmers and strengthen the local industry instead of pushing for importation that will drain government funds in favor of foreign suppliers,” PRISM said in a statement issued over the weekend.

The group also said that the NFA should focus on its role as mandated by the Rice Tariffication Law (RTL) RA 11203 to build its buffer stock exclusively from local farmers and rice millers instead of imported sources.

“This move is also more consistent with the President’s objective to support local farmers and strengthen our rice industry,” PRISM said.

“It has reached our attention that the NFA Administrator [Roderico Bioco] was in India to negotiate on behalf of the government,” it added.

“If this is true, we would like to ask for a clarification regarding this matter, which we believe runs counter to the provisions of the RTL which authorizes only the President to negotiate upon the recommendation of Neda [National Economic and Development Authority] and the DA [Department of Agriculture],” PRISM said.

Moreover, the group said that any discussion about importation initiated by the NFA is obviously ultra vires, or beyond its mandated power.

The international rice market situation

one roof to provide a convenient process to avail of medical assistance particularly for poor and indigent patients in public hospitals.

To date, there are 158 Malasakit Centers nationwide which have already served over 7 million Filipinos according to DOH.

Go, vice chairperson of the Senate Committee on Finance, has likewise supported various road improvements in the cities of Cavite, Dasmariñas, General Trias, Imus and Tagaytay; rehabilitation and improvement of the municipal fire station in Noveleta; rehabilitation of covered courts in various barangays in General Trias City; acquisition of ambulance units for the local government of Indang andTrece Martires City; and improvement of a sports facility in Cavite State University in Indang.

would reveal problems are beyond the control of local businesses and the government.

PRISM said Filipino private importers who have booked supplies from Vietnam as early as the first quarter are now faced with the dilemma of Vietnamese importers canceling their contracts in favor of other countries affected by India’s rice export ban.

“We are thus urging that relevant authorities engage in diplomatic discussions with Vietnamese counterparts to find a mutually beneficial resolution and honor the contracts of our importers,” it added.

“Complicating our rice situation, careless statement of a certain DA official has maliciously criticized our members’ effort to subsidize a limited supply of P38 per kilo rice during lean months that was intended for our indigent ‘kababayans’,” the group said.

On July 7, PRISM launched the P38 per kilo Tulong sa Bayan Bigas para sa Mamayan in various areas in Metro Manila, Luzon, Visayas and Mindanao through it rice retail networks, barangay and local government caravans and Kadiwa outlets.

“Since then until this time, we still continue selling the P38 per kilo rice in the respective channels chosen by our stakeholders,” PRISM said.

Recently, President Ferdinand Marcos Jr. has instructed the NFA to focus on the local production of rice to augment the country’s supply.

“The President instructed the agency to continue exploring other ways in prioritizing rice production other than importation, such as contract farming and other means that will guarantee an increase in the NFA’s volume production,” a statement said.

Furthermore, Bioco briefed Marcos about measures that have been carried out to ensure that the country has sufficient supply of rice.

Improved rice output this year

FOR his part, DA Senior Undersecretary Domingo Panganiban, citing a Philippine Statistics Authority report, said that palay (unhusked rice) output from January to June rose to 9 million metric tons (MMT), from 8.7 MMT produced during the same period in 2022 and in 2021.

He said that the 9 MMT palay is equivalent to 5.9 MMT milled rice (200,000 MT more than the PRISM estimate of 5.7MMT).

PRISM is a monitoring and information system for rice production in the country.

Young, wild and free (from corruption)

By Henry J. Schumacher

ON August 12, we celebrated the International Youth Day. That was certainly an opportunity to cast a spotlight on the young advocates boldly leading the fight against corruption.

Young people today are impacted by a world brimming with challenges—from the climate crisis to economic inequalities and multiple forms of discrimination—just to name a few. And all these issues are exacerbated by corruption. Despite the complex landscape today’s youth inherit, their energy and passion to challenge the status quo offers hope for the future. This certainly applies to the situation in the Philippines also.

As Transparency International outlined in a recent report, young people are more exposed to bribery and are vulnerable to corruption, as they are involved in nearly every aspect of society, as students, workers and consumers. Within this context, the rising generation is increasingly embracing social change, driving political transformation and making a real impact through tech-savvy solutions, active political engagement and peer-to-peer training. Growing up in an ever-evolving tech landscape, young anti-corruption fighters know how to utilize digital tools in their advocacy. Take Nigeria, for example, where university students use the Timby app to confront sextortion—the abuse of power to obtain a sexual benefit. This app provides a safe, anonymous space for survivors of sextortion to submit questions and seek guidance. And in Europe, young people from Germany, France, Italy, Macedonia and Lithuania are building watchdog communities against corruption using digital technologies.

Around the world, young people continuously speak their minds and drive social change,

but they require more platforms to amplify their voices. That's why their essential role in policymaking must be recognized. To ensure their demands are heard, youth in Palestine are taking matters into their own hands by monitoring elections at both local and national levels. They are trying to gain skills and knowledge to make an impact in their communities and beyond.

In some places, there is now a formal recognition of their role. For example, the European Union has taken an important step to ensure young people are part of decisionmaking processes. The EU Youth Action Plan is the first-ever policy framework for a strategic partnership with young people around the world to shape action and accelerate progress on issues like sustainable development, peace, gender equality and climate action. But how can young people develop the skills needed to fight corruption? Integrity schools, like the Transparency International School on Integrity in Lithuania, are one way forward. The school is the world’s longest-running and bestknown program on transparency, with 1,600 alums from more than 120 countries. Papua New Guinea is also making strides on that front. Through the Mike Manning Youth Democracy Camps, young people are offered training on a wide range of topics and cross-learning opportunities to strengthen their leadership and advocacy skills. Many students continue to make an impact long after attending the camps by using their experience to improve infrastructure and governance in their schools and communities. These are just some of the many ways young people are paving the path towards a less corrupt world. And while the responsibility to fix corrupt systems shouldn’t fall solely on today’s youth, they are driving systemic change. Young people have fresh and innovative perspectives on today’s greatest challenges, and they must be given the opportunity to inform policies that directly affect them—and the next generations to come. What about the Philippines? We certainly have the young people ready to create change. It is obvious that the youth from the middle class down to the poor are suffering most from the unfairness of corruption and need to be encouraged to fix corrupt systems, making use of examples in other countries like those mentioned above. However, fighting corruption is a dangerous undertaking, as those who are potentially exposed in government and in the rich part of society will fight back. May be Transparency International and the Integrity Initiative should work together to create and support advocacy systems in the Philippines!?!?

Feedback will be appreciated. Contact me at hjshumacher59@gmail.com

Oil companies hike fuel pump prices

PUMP prices are on the rise again this week.

Oil firms announced Monday an upward adjustment of P1.10 per liter for gasoline products, P0.20 per liter for diesel, and P0.70 per liter for kerosene.

This will be implemented at 6 a.m. today, Tuesday, by Petron, Shell, Caltex, Total, Unioil, PTT, Phoenix and Seaoil. Cleanfuel , on the other hand, will adjust its prices at 4:01 p.m.

Other oil firms are expected to follow suit.

This will be the 8th consecutive week of

price hike for diesel and kerosene. For gasoline, this week’s price hike will be its seventh.

Last August 15, oil companies implemented an increase of P1.90/liter for gasoline, P1.50/ liter for diesel and P2.50/liter for kerosene. These price adjustments resulted in a year-todate net increase of P13.40/liter for gasoline, P8.60/liter diesel and P5.14/liter for kerosene.

Oil companies adjust their prices every week to reflect movements in the world oil market.

Based on the monitoring of the Department of Energy (DOE), oil prices surged to multiple

month highs as tightened OPEC supply throughout September offset the latest weekly US Energy Information Administration production forecasts and inventory data. Saudi Arabia will continue the one million barrel per day (b/d) cut that is holding crude production at a two-year low of 9 million b/d in September, while Russia is tapering its 500,000 b/d export cut for August to 300,000 b/d for September. The depreciation of the Philippine peso versus the US dollar also contributed to the fuel price adjustment. Lenie Lectura

Estrella cites DAR’s milestones during PBBM’s 1st year in office

THE Department of Agrarian Reform (DAR) distributed a total of 85,853 hectares of public and private agricultural lands during President Ferdinand R. Marcos Jr.’s first year in office, Agrarian Reform Secretary Conrado Estrella III said.

The distributed lands represent a total of 71,360 land titles and were distributed to 68,427 beneficiaries, he said.

Some 49,484 titles covering 43,623 hectares were distributed to 43,623 farmer beneficiaries from January to July 7, 2023 alone.

Estrella said from January to December 2022, under the previous DAR administration, only 2,343 titles covering 2,159 hectares were distributed to 3, 393 farmers.

During the same period or from July to December 2022, the numbers soared to 6,736 titles covering 8,991 hectares distributed to 6,945 agrarian reform beneficiaries (ARB) under President Marcos’ watch, according to Estrella. The DAR chief specifically cited the record breaking performance on the distribution of e-titles under the project Support to Parcelization of Lands for Individual Titling (SPLIT), which seeks to parcelize lands under collective certificates of land ownership awards (CCLOAs) to have specific areas titled to individual farmers.

A 1,6275 percent increase was noted from January to July 2023 with a total of 33,654 e-titles covering 46,241 hectares given to 29,320 ARBs compared to only 2,343 titles covering 3, 393 hectares distributed to 2, 159 beneficiaries from March 2021, to June 2022 under the previous administration.

Estrella said that the SPLIT land distribution performance for the first 7 months of 2023 is

outstanding compared to the cumulative 22 month overall land distribution accomplishments from March 2021 to December of 2022.

The DAR is bent on distributing the remaining target of at least 30,000 titles more for this year to complete its target for 2023 to distribute a total of at least 80,000 titles to our ARBs nationwide,” Estrella said.

During the budget hearing of the proposed 2024 budget of the DAR at the House of Representatives, lawmakers lauded the performance of the DAR and expressed support behind the move to increase the 2024 budget.

The lawmakers noted that the proposed 2024 budget is insufficient to finance its three major program thrusts in 2024 namely, accelerated land distribution, swifter agrarian justice delivery and strategic provision of broader support services to farmers.

The DAR’s P9.392.29-billion proposed budget for 2024 is 40.74 percent or P6.46 billion lower than its 2023 appropriation of P15.850.2 billion.

During the public hearing, Estrella also cited the major performance milestones of the DAR in the first year of the administration, which include the signing of Republic Act No. 11953 or the New Agrarian Reform Emancipation Act that condones all the unpaid amortizations of the agrarian debt, including interest and surcharges, if any.

Under the said law, the government also assumes the obligation of 10,201 ARBs tilling 11, 531.24 hectares of land to pay the remaining balance of the direct compensation due the concerned landowners under the Voluntary Land Transfer (VLT) or the Direct Payment Scheme (DPS) amounting to P 206,247,776.41 million. Jonathan L. Mayuga

SP Zubiri calls for procurement reforms to expedite defense materiel acquisition

By Butch Fernandez @butchfBM

lamented the state of the country’s Navy and Coast Guard, stressing, “We need to procure the best and not necessarily the cheapest equipment because in military spending, the cheapest is not the best if it will soon fall apart.”

H e recalled “there are several allies who would like to give us slightly used, not necessarily brand new, but good equipment so our law must be able to respond to this reality otherwise the acquisition will not push through for lack of legal basis.”

“ You know, when you buy an aircraft,” Zubiri asserted, “even a 10-year-old aircraft, as long as it is well maintained, it can still be durable within the next 30 years.”

He said the bill “revitalizes the Self Reliant Defense Posture [SRDP] program implemented in the 1970s to support the growing military hardware requirements of the AFP [Armed Forces of the Philippines].”

A s proposed, Zubiri noted “the measure seeks to strengthen the SRDP program by incentivizing in-country enterprises to help grow the local defense industry.

By encouraging the growth of local enterprises supplying defense equipment and hardware to our AFP, we become less reliant to other countries to fill out our defense requirements. It will also generate employment for many Filipinos in the long run,” Zubiri added.

PHL military units to take part in US Pacific Partnership 2023

RESCUE units of the Armed Forces of the Philippines (AFP) will get a chance to enhance their humanitarian assistance and disaster relief (HADR) capabilities as they will undergo training with participants of the US-led Pacific Partnership 2023 (PP23), which will take place in San Fernando, La Union from August 22 to 31.

T he Senate leader issued the statement as he pressed for the removal of bottlenecks in the government procurement of goods and services and directing it to economic managers who appeared before senators last Wednesday to defend Malacañang’s proposed P5.768 trillion national budget for 2024.

Z ubiri reminded administration officials defending the annual money measure “the acquisition

process can be stringent but speedy so that recipients will get the right equipment at the right price at the right time.”

A t the same time, the Senate leader complimented the timely passage of amendments to the Government Procurement Reform Act embodied in the pending Senate bill aiming to boost the domestic defense industry.

Moreover, the Senate President

Zubiri added, “Being brand new should not always be equated with quality,” citing the “purchase of police vehicles from another country which were bugged by breakdowns and lack of spare parts.”

C omplementing the amendments to the government procurement law, Zubiri also pressed for the passage of Senate Bill No. 315 or the “Philippine Defense Industry Development Act,” envisioned to promote the local production of defense equipment and materiel.

Embo teachers hope for ‘smooth transition’ for opening of classes amid Taguig-Makati row

THE Teachers’ Dignity Coalition

(TDC) on Monday assured it will abide by Supreme Court (SC) ruling on the settlement of the boundary dispute Makati and Taguig Cities, even as the group called for “smooth transition” on the resumption of classes for some 30,000 public school learners about a week from now.

TDC national chairperson Benjo

Basas said that they call on both parties to respect the SC decision, noting that the welfare of the students should be of paramount importance.

Yes, recognized naman namin ’yun [the SC ruling]. Even Makati submits to this finality of the SC ruling,” he said.

E arlier, Noel Meneses, president of the Fort Bonifacio High S chool Faculty Club called for an immediate resolution over the Taguig-Makati issue since the opening of classes is fast approaching. “ We hope the two parties could have reached an agreement to restore the normal school operation,” said Meneses.

H e admitted that they are presently in a dilemma and hoping

In the case of the reclamation, he noted, “to advertise that we are halting 22 projects is really damaging.”

The issue of inconsistent policy is one but stopping projects is something that will really terrorize possible investors, and we have a lot.... Now I think they will all disappear because of this,” Ortiz-Luis added.

An earlier BusinessMirror story quoted DENR Secretary Yulo-Loyzaga telling a press conference in Malacañang last August 10 that all 22 land reclamation projects are suspended pending a cumulative review to determine the soundness of the projects.

We have been obligated to do [the review] by the Supreme Court. We need to do the review of these projects,” said Loyzaga.

She said 22 land reclamation projects were approved during the Duterte administration before she took the helm of the DENR, which regulates the issuance of ECCs (environmental compliance certificates) for environmentally critical projects like land reclamation in environmentally-critical areas such as Manila Bay, an economically important water body and major fishing ground in Luzon.

Loyzaga said all 22 reclamation projects at

that the situation would go back to normal before the opening of classes on Tuesday, August 29.

Meneses said that the majority of teachers were affected by t he issues confronting the schools division, “particularly when the documents are immediately needed for transactions like certifications, assignment orders, permits, or loan applications that are very much needed in time for the beginning of classes.”

Meneses, who is also speaking on behalf of the local TDC chapter, added that since teachers are “at the frontlines in education, directly involved w ith learners, their parents, and the community, and thus can help the Department of Education [DepEd] to disseminate proper information.” He added, however, his group also needs to be informed of the situation.

Meanwhile, 14 school principals of the public schools located in the so-called embo barangays said that there would be no problem if they will be placed under the Taguig City government.

M akati Science High School Principal Dr. Felix Bunagan said that

Manila Bay will remain suspended pending the result of the DENR review on their compliance with environmental regulations.

The Environment chief said the agency has started sending suspension orders to contractors of the said projects.

She also noted they expect to complete within August the list of members of the scientific team, which will conduct the cumulative assessment on the economic, social and environmental impact of the projects. She said projects found to have a negative impact on the environment or violated government regulations, will be given time to implement corrective measures. There is due process here now … If they do not comply. It’s possible for the ECCs [environmental compliance certificate] to be suspended,” Loyzaga said. (Full story here: https://businessmirror.com. ph/2023/08/11/denr-to-order-stop-workfor-manila-bay-reclamation/)

Ortiz-Luis said that while these projects are placed under the microscope,“I just hope that they [government and businesses involved in reclamation] will not hire purely academicians but they will include our economic managers.”

the conduct of Brigada Eskwela, in preparation for the opening of school year (SY) 2023-2024, was a success, which was participated by Taguig City Mayor Maria Laarni Cayetano.

Th is was echoed by West Rembo Elementary School Principal Alma Adona. Cayetano visited both schools during the Brigada Eskwela launch.

The TDC said that the 14 public schools cover some 15,00 teachers and 30,000 learners. Basas said that the Central Office’s assumption of authority over the aforementioned schools would ease tension and open the door for more friendly talks between the two local government units.

With just a week to the opening of classes, our schools will need to make preparations, and in order to do this, teachers and other school personnel should be allowed to work, business as usual. We hope that things will get better sooner,” Basas said.

The DepEd Order No. 23, s. 2023 signed by Vice President and DepEd Secretary Sara Duterte placed the control of 14 schools under the Office of the Secretary. Claudeth Mocon-Ciriaco

Continued from A10

Meanwhile, Ortiz-Luis cited Felino Palafox Jr., a Filipino urban planner who has worked in 40 countries, for his positive view of reclamation per se.“Done properly, all this reclamation in Singapore, in Japan, in Hong Kong and in the Philippines, should be a boon for the country because number one it will give spaces where the city can expand, can bring new technology,” Palafox reportedly said.

O rtiz-Luis also noted that the planned expansion of an area via reclamation could moderate “escalating prices of land in the area.”

The Philexport chief said with the additional land that will be reclaimed, land prices will stabilize and can be more affordable. As such, he noted that the income generated for Manila “will probably give them a net income to be able to give services that they can no longer afford because of limited income and the expansion that they did.”  Manila Bay stretches across cities and municipalities from the provinces of Cavite, Bulacan, Pampanga, and Bataan, and covers the entire National Capital Region (NCR). With a report by Butch Fernandez

Moreover, he noted the Senate has taken a more assertive stance against the illegal encroachment of China in the WPS, condemning the recent water cannon incident against Philippine vessels making a supply run to Filipino troops on board the BRP Sierra Madre.

The Senate passed a resolution condemning past and recent actions of China against the Philippine Navy and Philippine Coast Guard, as well as its harassment of Filipino fishermen trying to earn a living in Philippine territory.

This is the 18th iteration of  Pacific Partnership, which is described as the US’ largest annual multinational HADR exercise seeking to boost preparedness and interoperability with seven host partner nations in the Indo-Pacific.

This exercise underscores our commitment to regional stability, disaster response readiness, and the well-being of every Filipino and our neighbors. With our partners, this will help us hurdle challenges by fostering goodwill and fostering safer, more resilient communities for generations to come,”

Armed Forces of the Philippines (AFP) public affairs office chief Lt. Col. Enrico Gil Ileto said in a statement Monday.

Th is year’s exercises will focus on three primary trainings: mountain search and rescue, urban search and

rescue, and water search and rescue. There will also be medical, dental, and veterinary; and engineering activities. R efreshers on basic life support, incident command system, and operations center management will also be conducted. A c ulminating training on an earthquake-tsunami response scenario will also be held to round up the HADR exercises.

Meanwhile, medical and dental civic action programs will focus on exchanges and community education that will help build resilience and enhance capabilities to respond to HADR needs.

Topics include public health, infectious diseases, diabetes, cardiovascular disease, cancer, forensic dentistry, oral surgery, and diet and nutrition. Engineering projects are also scheduled for the exercise. Filipino, American, and South Korean engineers are to address critical infrastructure concerns. We welcome our ally and partners as we embark [on] another opportunity to build strong, stable, and resilient communities,” Ileto said.

Rex Anthony Naval

CITING recent incidents of “illegal incursions of China in the West Philippine Sea (WPS),” Senate President Juan Miguel Zubiri stressed the urgent need for procurement reforms to “expedite purchase of defense equipment the country needs to protect its territory.”

‘Halt notice on reclamation could shoo away investors’

Denmark and Netherlands pledge to give F-16 fighter jets to Ukraine

By Mike Corder & Karl Ritter The Associated Press

EINDHOVEN, Netherlands—

The Netherlands and Denmark announced Sunday they will give F-16 warplanes to Ukraine, a longawaited announcement that Ukrainian President Volodymyr Zelenskyy called an important motivation for his country’s forces, embroiled in a difficult counteroffensive against Russia.

The promise of new fighter jets came the day after an unusually brazen Russian missile strike on a Ukrainian theater that killed seven people and wounded almost 150 others in the northern city of Chernihiv. Zelenskyy vowed stern retaliation for the attack, whose victims included a slain 6-yearold girl and 15 wounded children.

After months of entreaties from Zelenskyy for F-16s to bolster the Ukrainian air force, the US recently gave approval for the Netherlands and Denmark to provide Ukraine the American-made jets. Zelenskyy travelled to both countries Sunday to finalize the delivery deals.

‘’F-16s will certainly give new energy, confidence, and motivation to fighters and civilians. I’m sure it will deliver new results for Ukraine and the entire Europe,” the Ukrainian leader said.

Ukraine hopes the jets will give it a combat edge, after launching

a counteroffensive against the Kremlin’s forces without air cover from Western aircraft, placing its troops at the mercy of Russian aviation and artillery.

Danish Prime Minister Mette Frederiksen pledged 19 F-16s to Ukraine and said she hoped the first six could be handed over around New Year. Dutch Prime Minister Mark Rutte didn’t provide a number or timeframe, saying it depends on how soon Ukrainian crews and infrastructure are ready. Zelenskyy said on his Telegram channel that Ukraine would get 42 jets.

“The F-16s will not help immediately now with the war effort. It is anyway a long-term commitment from the Netherlands,” Rutte said. “We want them to be active and operational as soon as possible.… Not for the next month, that’s impossible, but hopefully soon afterward.”

He and Zelenskyy inspected two gray F-16s parked in a hangar

Arévalo wins Guatemala presidency on promise to weed out corruption

By Michael McDonald

ANTI-GRAFT campaigner Bernardo Arévalo won Guatemala’s presidential election in a landslide after pledging to weed out the “systemic corruption” that, he says, keeps the nation mired in poverty.

Arévalo led Sunday’s runoff vote with 58 percent, compared to 37 percent for former first lady Sandra Torres, with 99 percent of ballots tallied.

As of 9:30 p.m. local time, Torres hadn’t conceded, and the electoral authority may take several days to certify the result if there are legal challenges. However, President Alejandro Giammattei congratulated Arévalo for his win in a sign of institutional support.

Arévalo, a 64-year-old sociologist and former diplomat, stayed in the race through repeated attempts to disqualify his party,

at a Dutch base in the southern city of Eindhoven.

A few hours later, Zelenskyy and his wife were received by Frederiksen, other Danish Cabinet ministers and Crown Princess Mary at the Skrydstrup air base in southern Denmark where Ukrainian pilots will receive F-16 training in coming months. The two leaders climbed into a Danish F-16 and tried out the seats.

Frederiksen said “hopefully” six fighter jets could be delivered around New Year, eight more next year and the remaining five in 2025.

“Please take this donation as a token of Denmark’s unwavering support for your country’s fight for freedom,” she said.

Zelenskyy called the Dutch and Danish donations a “huge push for other countries who were in doubt” about providing Ukraine with F-16s. Asked whether there were conditions

annulling his political party, Semilla lawmakers won’t be able to join legislative committees, posing challenges to his ability to govern. Arévalo says he’s under attack by corrupt actors who are threatened by his anti-graft stance.

OAS Secretary General Luis Almagro said this month that he had received an assurance from President Alejandro Giammattei that there would a peaceful transition of power to the winner.

In neighboring Mexico, President Andrés Manuel López Obrador congratulated Arévalo.

Israeli university

which led US officials to warn that democracy was under threat in the country. He pledged to double public investment to build roads, ports and airports and seek an investment grade credit rating within two years by improving the rule of law.

“In Guatemala, we have reached an extreme where political parties aren’t formed to govern, they’re formed to steal,” Arévalo told local TV before the vote. “That’s Guatemala today, and that’s what we have to fix.”

Torres’ reaction may be key to determine how contested the results will be after weeks of official attacks on Arevalo’s party. Barring legal challenges, he’ll be sworn in on January 14, but faces an uphill battle as prosecutors investigate his Semilla party for allegedly forging signatures and laundering money during its founding.

If prosecutors are successful in

THE son of Juan José Arévalo, Guatemala’s first democratically elected president, Bernardo Arévalo was born in 1958 in Montevideo, Uruguay, where his father was living in exile.

He studied sociology at the Hebrew University of Jerusalem, Israel, and also earned a doctorate from Utrecht University in the Netherlands. He has authored books about post-conflict societies and the role of the military in Latin America.

He served as deputy minister of foreign affairs and ambassador to Spain in the 1990s and worked on peace-building missions in Geneva, before being elected to congress in 2019. He has six children.

Guatemala’s overseas bonds have returned 1 percent this year. Barclays Plc said in a note this month that the next administration will likely preserve the country’s low debt levels and macroeconomic stability. Bloomberg News

attached to the donations, such as a commitment not to use them in Russian territory, Zelenskyy said that had not been discussed but added that defending Ukrainian territory was the “main goal.”

The Dutch and Danish governments are also spearheading a coalition that is working to train Ukrainian pilots to fly the advanced fighter jets.

Zelenskyy declined to say how many Ukrainian pilots would undergo training in Denmark and later in Romania, citing security reasons. Frederiksen said “more than 70” Ukrainian personnel were already in Denmark and getting ready to start training.

The Danish Armed Forces said the Ukrainians must pass a security review and tests of their health and language skills before the training can begin.

“The training is expected to last a minimum of six months. Exactly

how long it will take to teach Ukrainians to operate the F-16 capability cannot be said precisely, as it will depend on their experience and language skills, among other things,” the Danish Armed Forces said in a statement.

Officials have previously said that Ukrainian pilots will need six to eight months of training.

Sunday’s announcements came two days after the Netherlands and Denmark said the US had authorized them to deliver Americanmade F-16s to Ukraine in what was seen as a major boost for Kyiv.

Washington says the F-16s— like the advanced US Abrams tanks—will be crucial in the long term as Kyiv faces down Russia.

During a visit to Sweden on Saturday, Zelenskyy also asked for Swedish Gripen fighter jets. Sweden has not decided on that request but has agreed to let Ukrainian pilots test the aircraft.

Ukraine has been relying on older aircraft, such as Russianmade MiG29 and Sukhoi jets. F16s have newer technology and targeting capabilities. They are also more versatile, experts say.

Zelenskyy was set to address the Danish Parliament on Monday.

In Ukraine, the governor of the Chernihiv region, Vyacheslav Chaus, said Sunday that the number of people wounded in the theater attack Saturday had risen to 148.

“I am sure our soldiers will respond to Russia for this terrorist attack. Respond tangibly,” Zelenskyy said in a video address published in the early hours of Sunday.

In eastern Ukraine, Kharkiv regional Gov. Oleh Syniehubov said Sunday that Russia was shelling the city of Kupiansk “all

Kim watches cruise missile launches as US, South Korea begin annual drills

By Hyung-Jin Kim Associated Press

SEOUL, South Korea—North Korean leader Kim Jong Un observed the testfiring of strategic cruise missiles, state media reported Monday, as the US and South Korean militaries kicked off major annual drills that the North views as an invasion rehearsal.

The North’s report on missile tests came three days after the leaders of the US, South Korea and Japan held their first stand-alone trilateral summit and agreed to increase their cooperation on their ballistic missile defenses to counter North Korea’s evolving nuclear and missile threats.

During an inspection of a navy flotilla on an unspecified date, Kim boarded a patrol ship to review its weapons and preparations for combat, according to the official Korean Central News Agency. It said Kim later watched the ship’s seamen conduct a drill of launching “strategic” cruise missiles, a word implying the weapons were developed to carry nuclear warheads.

A state media photo showed him watching a soaring missile from the patrol ship from another place, not on the vessel. KCNA said the missiles hit designated targets without any errors, demonstrating the ship’s readiness and attack capability.

Kim said he would bolster efforts to build powerful warships and modernize shipboard and underwater weapons systems for the North’s navy. He called for the country’s sailors to build “overwhelming ideological and spiritual strength,” saying that is more important than numerical or technical superiority of weapons, according to KCNA.

South Korea’s Joint Chiefs of Staff said in a statement North Korea’s report on its cruise

day long,” with an attack in the city center wounding 11 people. A man was killed in Russian shelling of Vovchansk, also in the Kharkiv region, according to Ukraine’s Internal Affairs Ministry.

Meanwhile in Russia, the Defense Ministry said Sunday that its air defense systems had prevented an attack by three drones on the Belgorod region, which borders Ukraine.

Russian air defenses also jammed a drone flying towards Moscow early Sunday, causing it to crash. Russia’s Defense Ministry called it “an attempt by the Kyiv regime to carry out a terrorist attack.”

Moscow’s Vnukovo and Domodedovo airports briefly suspended flights, but no victims or damage were reported.

In the city of Kursk, five people were wounded when a Ukrainian drone hit a train station, regional Gov. Roman Starovoit said. Kursk is the capital of the western region of the same name, which borders Ukraine.

Ukrainian authorities, who generally avoid commenting on attacks on Russian soil, didn’t say whether Ukraine had any involvement.

Drone strikes on the Russian border regions are a fairly regular occurrence. Attacks deeper inside Russian territory have been on the rise since a drone was destroyed over the Kremlin in early May. Successful strikes have exposed the vulnerabilities of Moscow’s air defense systems.

R itter reported from Stockholm. Elise Morton in London and Angela Charlton in Paris contributed.

incoming US warships and aircraft carriers in the event of conflict.

missile tests contained “an exaggeration” and was “not consistent with the facts.” It said South Korea’s military will maintain firm readiness based on its capacity to overwhelmingly defeat potential North Korean provocations.

“North Korea’s naval cruise missile may appear technologically behind but is still a real threat,” Leif-Eric Easley, a professor at Ewha University in Seoul, said. “The latest test shows Pyongyang’s intention of attacking South Korea from many angles if it believes the Kim regime is at risk.”

Launches from North Korea’s huge stockpile of ballistic missiles are prohibited by UN Security Council resolutions. Its cruise missile tests aren’t banned, but they still pose a threat because they fly at a lower altitude to avoid radar detection. Analysts say North Korea aims to use cruise missiles to strike

North Korea was widely expected to resume weapons tests in reaction to the USSouth Korean military training that began Monday for an 11-day run.

The Ulchi Freedom Shield training is a computer-simulated command post exercise. The US and South Korean militaries said they also plan conduct large-scale field exercises as well.

North Korea in past years has slammed major US-South Korean drills as practice for an invasion and has responded to them with missile tests. US and South Korean officials maintain the exercises are defensive in nature and they have no intention of attacking the North.

Since the start of 2022, North Korea performed more than 100 weapons tests, some of them involving nuclear-capable missiles designed to strike the US mainland and its allies South Korea and Japan. The US and South Korea have expanded their regular training exercises in response.

UKRAINIAN President Volodymyr Zelenskyy, left, and Denmark’s Prime Minister Mette Frederiksen sit in a F-16 fighter jet at Skrydstrup Airbase, in Vojens, Denmark on Sunday, August 20, 2023. MADS CLAUS RASMUSSEN/RITZAU SCANPIX VIA AP

BERNARDO AREVALO displays an inked finger after casting a ballot in Guatemala City on Sunday. BLOOMBERG

Russia, China look to advance agendas at BRICS summit of developing countries in South Africa

By Gerald Imray The Associated Press

JOHANNESBURG—Russia

Leaders from the BRICS economic bloc of Brazil, Russia, India, China and South Africa will hold three days of meetings in Johannesburg’s financial district of Sandton, with Chinese premier Xi Jinping’s attendance underlining the diplomatic capital his country has invested in the bloc over the last decade-and-a-bit as an avenue for its ambitions.

Russian President Vladimir Putin will appear on a video link after his travel to South Africa was complicated by an International Criminal Court arrest warrant against him over the war in Ukraine. Brazilian President Luiz Inácio Lula da Silva, Indian Prime Minister Narendra Modi and South African President Cyril Ramaphosa will be at the summit alongside Xi.

The main summit on Wednesday—and sideline meetings Tuesday and Thursday—are expected to produce general calls for more cooperation among countries in the Global South amid their rising discontent over perceived Western dominance of global institutions.

That’s a sentiment that Russia and China are more than happy to

lean into. Leaders or representatives of dozens more developing countries are set to attend the sideline meetings in Africa’s wealthiest city to give Xi and Russian Foreign Minister Sergey Lavrov, who will represent Putin in South Africa, a sizeable audience.

One specific policy point with more direct implications will be discussed and possibly decided on—the proposed expansion of the BRICS bloc, which was formed in 2009 by the emerging market countries of Brazil, Russia, India and China, and added South Africa the following year.

Saudi Arabia is one of more than 20 countries to have formally applied to join BRICS in another possible expansion, South African officials say. Any move toward the inclusion of the world’s secondbiggest oil producer in an economic bloc with Russia and China would clearly draw attention from the United States and its allies in an extra-frosty geopolitical climate, and amid a recent move by Beijing to exert some influence in the Persian Gulf.

“If Saudi Arabia were to enter

BRICS, it will bring extraordinary importance to this grouping,” said Talmiz Ahmad, India’s former ambassador to Saudi Arabia.

Even an agreement on the principle of expanding BRICS, which already consists of a large chunk of the developing world’s biggest economies, is a moral victory for the Russian and Chinese vision for the bloc as a counterbalance to the G-7, analysts say.

Both favor adding more countries to bolster a kind of coalition—even if it’s only symbolic— amid China’s economic friction with the US and Russia’s Cold War-like standoff with the West because of the war in Ukraine.

Nations ranging from Argentina to Algeria, Egypt, Iran, Indonesia and United Arab Emirates have all formally applied to join alongside the Saudis, and are also possible new members.

If a number of them are brought in, “then you end up with a bigger economic bloc, and from that a sense of power,” said Prof. Alexis Habiyaremye of the College of

Business and Economics at the University of Johannesburg.

While Brazil, India and South Africa are less keen on expansion and seeing their influence diluted in what’s currently an exclusive developing world club, there is momentum for it. Nothing has been decided, though, and the five countries must first agree on the criteria new members need to meet. That’s on the agenda in Johannesburg amid Beijing’s push.

“BRICS expansion has become the top trending issue at the moment,” said Chen Xiaodong, China’s ambassador to South Africa. “Expansion is key to enhancing (the) BRICS mechanism’s vitality. I believe that this year’s summit will witness a new and solid step on this front.”

The US has stressed its bilateral ties with South Africa, Brazil and India in an attempt to offset any outsized Russian and Chinese influence emanating from BRICS. In the buildup to the summit, the State Department said that the US was “deeply engaged with many of

the leading members of the BRICS association.”

The European Union also will closely follow happenings in Johannesburg, but with almost sole focus on the war in Ukraine and the bloc’s continued effort to draw united condemnation for Russia’s invasion from the developing world, which has largely failed so far.

With Xi, Lula, Modi and Ramaphosa coming together, European Commission spokesman Peter Stano said the EU was calling on them to use the moment to uphold international law.

“We look forward to their contribution to make Putin stop his illegal, destabilizing behavior,” Stano said.

If a BRICS foreign ministers meeting in Cape Town in June, the precursor to the main summit, is anything to go by, there will be no public criticism of Russia or Putin over the war. A planned protest by the Amnesty International rights group and the Ukrainian Association of South Africa outside the Sandton Convention Centre will likely be the only condemnation heard.

If anything, Russia might see the summit as an opportunity to leverage some favor.

Having halted a deal allowing the passage of grain out of Ukraine last month, Putin might use the BRICS gathering to announce more free Russian grain shipments to developing countries, as he has already done for several African nations, said Maria Snegovaya, senior fellow at the Europe, Russia, and Eurasia Program at the Washington-based Center for Strategic and International Studies.

It would allow Putin to demonstrate “goodwill” to the developing world, Snegovaya said, while cutting Ukraine out of the process.

Kremlin spokesman Dmitry

High temperatures bring misery to large portion of central US, setting heat records

By Juan A. Lozano

The Associated Press

HOUSTON—Sweltering

temperatures lingered

Sunday in a large swath of the central US, causing misery from the Gulf of Mexico to the Great Lakes.

Record high temperatures were recorded in Texas and other states. People were told to chug extra water while mowing lawns or exercising outdoors, and to check on neighbors to ensure air conditioning is available. The extreme heat prompted Texas’ electric power grid manager to ask residents to voluntary conserve power for three hours on Sunday night.

“These high temperatures can impact our friends, families, and neighbors who may live alone, especially if they limit their use of air conditioning,” Sarah Russell, commissioner for the St. Louis Emergency Management Agency, said in a statement.

“We urge everyone to stop and visit loved ones to ensure they are healthy and well during this extreme heat.”

The Dallas-Fort Worth area was expected to reach 110 F (43.3°C) Sunday after hitting 108°F (42.2°C) Saturday, said Sarah Barnes, a meteorologist with the National Weather Service.

The record high for those dates was 107°F (41.7°C), set in 2011.

The area is not cooling off enough at night, Barnes said.

“That’s really going to contribute to an increased risk of heat-related illnesses,” Barnes said Sunday. “That’s the main concern when it comes to people and the heat.”

The Electric Reliability Council of Texas, or ERCOT, on Sunday asked the state’s 30 million residents to voluntarily reduce power use from 7 p.m. to 10 p.m. CDT because of “extreme temperatures, continued high demand and unexpected loss of thermal generation.”

ERCOT’s request for voluntary power conservation was the second such request in the past three days. The agency said it was not in emergency operations. Many residents still view the power grid nervously more than 2.5 years after a deadly winter blackout.

The heat wave causing misery this weekend is just the latest to punish the US this year.

Scientists have long warned that climate change, driven by the burning of fossil fuels, by deforestation and by certain agricultural practices, will lead to more and prolonged bouts of extreme weather, including hotter temperatures.

The entire globe has simmered to record heat both in June and July. And if that’s not enough, smoke from wildfires, floods and droughts have caused problems globally.

Louisiana, Arkansas, Oklahoma, Kansas, Missouri, Illinois, Iowa and Nebraska. Heat advisories or watches were also in place in parts of Alabama, Mississippi, Tennessee, Kentucky, Indiana, Wisconsin, Minnesota and South Dakota.

Tourism in New Orleans often slows during the peak of summer heat, and that’s happening as temperatures approach 100°F (37.8°C).

NOLA Poboys is closing two days a week for now, said Lucas McQueen, one of the restaurant’s chefs. “I can’t wait to be complaining about being cold,” McQueen told WWL-TV.

The temperature reached a record high for the date of 104°F (40°C) Saturday in Jackson, Mississippi, as people walked between indoor and outdoor events at the Mississippi Book Festival. Volunteers distributed chilled water, and people used handheld fans while chatting with authors and shopping for books at large tents outside the state Capitol building.

Houston on Sunday added to its ongoing streak of high temperatures at or above 100°F (37.8°C). Through Sunday, the high temperature in Houston has been at least 100°F for 22 days. Sunday’s high was 108°F (42.2°C), breaking a record for the date that goes back to 1909.

The stifling heat in Texas overwhelmed people taking part in orientation for new students

at Prairie View A&M University, 48 miles (77 kilometers) northwest of Houston. University officials said they were reviewing operations after 38 students were hospitalized Friday night after suffering heat-related illnesses, including dehydration. One student was taken by helicopter to a hospital in nearby College Station, while 37 were taken in ambulances to other facilities, Waller County EMS Chief Rhonda Getschman told KBTX.

“It’s very easy to overheat quickly in this Texas heat. We highly encourage everyone to stay indoors as much as possible,” Getschman said.

Much of Iowa is expected to see high temperatures in the upper 90s Sunday and Monday, followed by three days where the reading will likely top 100°F (37.8°C).

The heat was worrisome for Sunday as thousands were expected for the final day of the Iowa State Fair in Des Moines.

In a Facebook post, fair officials urged patrons to visit air-conditioned buildings, take regular breaks and stay hydrated.

Forecasters expected high temperatures to reach 99°F (37.2°C) to 103°F (39.4°C) through Friday in St. Louis, and the heat’s only part of the problem: Excessive humidity will lead to a heat index of up to 115°F (46.1°C) each day. The St. Louis Post-Dispatch reported that if

Peskov said Putin would have “full fledged participation” in the summit despite appearing on a video link and would make a speech.

What’s also likely to be aired regularly over the three days in Johannesburg is the developing world’s gripes over current global financial systems. That has streamlined in the months and weeks leading up to the summit into a criticism of the dominance of the US dollar as the world’s currency for international trade.

BRICS experts are generally united in pointing out the difficulties the bloc has in implementing policy due to the five countries’ differing economic and political priorities, and the tensions and rivalry between China and India. But a focus on more trade in local currencies is something all of them can get behind, said Cobus van Staden, an analyst at the China Global South Project, which tracks Chinese engagement across the developing world. He sees BRICS pushing a move away from the dollar in regional trade in some parts of the world in the same way he sees this summit as a whole.

“None of this is the big sword that’s going to slay the dollar. That’s not the play,” said van Staden. “It’s not one big sword wound, it’s a lot of paper cuts. It won’t kill the dollar, but it’s definitely making the world a more complicated place.”

“They don’t need to defeat the dollar...and they don’t need to defeat the G-7. All they particularly want to do is raise an alternative to it. It’s this much longer play.”

AP Diplomatic Writer Matthew Lee in Washington and AP writers Ashok Sharma in New Delhi, Lorne Cook in Brussels, Jim Heintz in Talinn, Estonia, and Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

the prediction holds, it will be the worst stretch of heat in St. Louis since August 2014, when temperatures rose to about 95°F (35°C) for seven straight days.

Similar heat is expected all week in Little Rock, Arkansas, prompting the community to open several cooling centers for people who live on the streets or without air conditioning.

Last month, the Phoenix area broiled under a record-setting 31 days of daily high temperatures of 110°F (43.4°C) or above. The historic heat began blasting the region in June, stretching from Texas across New Mexico and Arizona and into California’s desert. The previous record was 18 straight days in 1974. In July, the continental United States set a record for overnight warmth, providing little relief from daytime heat for people, animals, plants and the electric grid, meteorologists said.

The Centers for Disease Control and Prevention reports just 600 to 700 heat deaths annually in the United States. But experts say the mishmash of ways that more than 3,000 counties calculate heat deaths means the public doesn’t really know how many people die in the US each year.

The Associated Press writers Jim Salter in St. Louis, Jackie Quinn in Washington and Emily Wagster Pettus in Jackson, Mississippi, contributed to this report.

Pope Francis calls for peaceful solution to the crisis in Niger

POPE Francis delivers his blessing as he recites the Angelus noon prayer from the window of his studio overlooking St.Peter’s Square, at the Vatican on Sunday, August 20, 2023. AP/ANDREW MEDICHINI

VATICAN CITY—Pope Francis expressed hope Sunday for a peaceful solution to the crisis in Niger following the military coup in the West African nation.

The pontiff told the faithful in St. Peter’s Square that he is following events with concern, joining an appeal “for peace in the country and stability in the Sahel region.” He called on the international community “to find a peaceful solution as soon as possible, for the good of all.”

Mutinous soldiers overthrew Niger’s democratically elected president last month, and have quickly entrenched themselves in power, rebuffing most dialogue efforts. President Mohamed Bazoum, his wife and son have been kept under house arrest in the capital.

Talks this weekend between Niger’s new military regime and a delegation from the West African regional bloc, ECOWAS, have reportedly yielded little progress. AP

and China will look to gain more political and economic ground in the developing world at a summit in South Africa this week, when an expected joint dose of anti-West grumbling from them may take on a sharper edge with a formal move to bring Saudi Arabia closer.

CHINESE President Xi Jinping, right, with South African President Cyril Ramaphosa, left, at the Forum on China-Africa Cooperation in Beijing, China on September 3, 2018. Russia and China will look to gain more political and economic ground in the developing world at a summit of the BRICS bloc in South Africa this week. HOW HWEE YOUNG/POOL PHOTO VIA AP

editorial

Edsa Busway helps solve traffic gridlock

EDSA is Metro Manila’s main thoroughfare, stretching around 24 kilometers from Caloocan City to Pasay City. It is also the most congested highway in the metropolis. The Japan International Cooperation Agency said in a 2018 study that the economic cost of traffic congestion in Metro Manila is about P3.5 billion a day. That’s about P105 billion a month in “lost opportunities.” Jica said the economic cost of traffic congestion may rise to P315 billion per month by 2030 if no interventions are made.

The introduction of the Edsa Busway helped improve traffic flow along Edsa. It also cut bus travel time from Edsa Monumento to Parañaque Integrated Terminal Exchange to about an hour, instead of the usual threeplus hours. The Department of Transportation and the Metropolitan Manila Development Authority have touted the Edsa Busway as one of the keys to solving the problem of traffic congestion in Metro Manila’s busiest thoroughfare.

The Mega Manila Consortium of city bus operators recently asked the government to allow their buses to again use the two rightmost lanes along Edsa, including the lane currently serving bicycle riders. They cited losses incurred in Busway operations and lower bus utilization.

The Management Association of the Philippines is calling on the government to retain the new Edsa Busway System and reject the proposal of bus operators to revert to the discarded practice of using two outermost yellow bus lanes for 3,000 bus units to resume operations. (Read the BusinessMirror report, “MAP presses govt to retain new Edsa Busway System,” August 17, 2023).

In a statement released on Thursday, the business group said it strongly opposes the proposal of the bus operators because for the past three years, it has been demonstrated that the Edsa Busway and Bus Carousel Line system is a “far superior” public bus transport system as it was able to carry a one-day peak load of 454,649 passengers on December 27, 2022 using no more than 550 bus units running on just one innermost Busway lane.

“Capital expenditures, excluding cost of rolling stock, by the national government totaled only about P500 million, which translates to the lowest capital cost-to-passenger ratio among transit systems,” MAP President Benedicta Du-Baladad and MAP Infrastructure Committee Chair Eduardo H. Yap said in a statement.

MAP cited “other remarkable performances” of the Busway, such as the average daily ridership reaching 380,378 during the Christmas season in December 2022. The group also said drivers are “better disciplined” and they stop only at bus stations and do not linger there.

“Commuters’ travel time was reduced, allowing them to be more productive at work and enjoy quality time with their families,” MAP said, adding that the Busway has facilitated travel for ambulances and emergency vehicles. This high performance, MAP said, was achieved due to the “higher efficiency” of the inner lane Busway as a people mover.

In contrast, the two yellow curbside (outermost) lanes bus system gained “worldwide notoriety” as over 3,000 buses jammed Edsa bumper-to-bumper, while passengers and other commuters suffered long commuting hours and massive volumes of exhaust fumes that polluted the air. “The drivers were impervious to discipline. Buses loaded and unloaded anywhere with impunity, weaving in and out of lanes in chaotic fashion,” MAP said.

MAP hit the nail on the head by pointing out that reverting to the failed yellow bus lane system will be “grossly detrimental” to commuters, to bus operators themselves, and to the economy.

It would do well for the Department of Transportation to upgrade the Edsa Busway and Bus Carousel Line system. As MAP pointed out, “completion and upgrade of the Busway to global standards with a bus exchange system for convenient transfer of commuters to feeder lines will attract motorists to take public transit and leave their cars at home.”

Improving the Edsa Busway makes a lot of sense. It would be foolhardy to go back to a bus system that brings hell to commuters and motorists alike, and costs us billions a day in lost opportunities due to traffic congestion.

Manny B. Villar

THE EnTrEprEnEur

MAn y of you, perhaps, are wondering why I am developing Villar City south of Metro Manila. Some of you may be even skeptical about its success and think that it is too late in the game to create a new city.

But I am a dreamer and nothing will stop me from dreaming for a better community, a better city and a better life for our fellow Filipinos.

I rose from poverty and experienced hardships on my way to earning a college degree. Anybody who works hard deserves better and Villar City aims to provide the working man or woman a conducive environment to fulfill his or her dream.

I empathize with our workers who endure two or three hours of travel time—one way—to reach their office and workplace. The traffic congestion in Metro Manila is getting worse because more and more people are migrating to the national capital region. A growing population increases the pressure on the environment and raises the demand for basic services, jobs, infrastructure, land and affordable

housing. And I don’t see the traffic congestion in Metro Manila improving, despite the construction of more toll roads.

I have envisioned that the only way to improve the traffic situation and, thus, improve the quality of life in the capital region is through decongestion. We need to create a new or satellite city and generate jobs away from the gridlock. There were too many errors with the development of urban areas in the past, which the Villar City seeks to rectify. Being in the real estate industry for so long, I want to take property development to the next level and provide Filipinos with the best that the Villar Group can offer. This landmark development will be a legacy project of my Villar Group. It will be a culmination of all the best

John Mangun

Th E 1976 song written by Peter ya rrow and Phillip Jarrell may approximate the Philippines’ foreign relations with the US and China.

“Torn between two lovers...Loving you both is breaking all the rules. There’s been another that I’ve needed, and I’ve loved, but that doesn’t mean I love you less. There’s just this empty place inside of me that only he can fill.”

While both the US and China would like the Philippines to be totally under their control, the two “lovers” need each other just as much. China, including Hong Kong, supplied 41 percent of US goods and services imports in 2022. Likewise, China made a fortune in hard currency from its exports to the US. Love may be blind, but it is not stupid.

The “State of Southeast Asia 2023” survey released on February 9 showed around 63 percent of Filipinos have either “little confidence” or “no confidence” in China to “do the right thing” to contribute to global

practices, the valuable learnings, insights and expertise that we’ve gained from being in the business of real estate over the decades.

Spanning 3,500 hectares across 14 cities and towns in Metro Manila and portions of Cavite, Villar City will create a new center of growth and development. The masterplanned Villar City will be composed of selfsustaining districts or urban centers, such as a modern central business district, a tech valley and a university town, among others.

In keeping with the mandate of the United Nations under its Social Development Goals to make cities and human settlements inclusive, safe, resilient and sustainable, the Villar City will provide access to safe, affordable and accessible transport systems for all. It will have inclusive and accessible, green and public spaces as well.

This multifaceted, multifunctional development will be in a class of its own. We’ve seen such communities abroad and we hope to have it also here, to be experienced by our fellow Filipinos. Villar City will serve as the central urban area that will have satellite centers or districts that, on their own, are already self-contained, self-sufficient neighborhoods. It will also be a premier lifestyle hub, set amid verdant landscapes with some one million trees.

My family recently led the open-

compensate the Philippines for the EDCA facilities, the strategic reality is that the US “bases” in North Luzon has effectively delayed any thought of the PRC invading and reclaiming Taiwan in the near future.

Decongesting the capital region is doable OuTSIDE THE BOX

To invade would require port facilities to support the troops necessary to control the island. In the north—to take the capital—there are three seaports: Keelung, Taichung, and Taipei.

ing of Villar Avenue, a 9.5-kilometer road that will serve as the main artery of Villar City. This road aims to improve connectivity among cities in the metro and Cavite, while helping generate jobs, open up more opportunities and pave the way for growth and expansion. The opening of Villar Avenue will seamlessly connect the 15 satellite cities comprising the Villar City.

The city project will become the “new center of gravity” of Metro Manila. It seeks to be a thriving center where economic, lifestyle, cultural and leisure activities will converge.

We have masterplanned Villar City in such a way that once the groundwork has been laid, our vision and dreams for this emerging urban area will be irreversible. But at the same time, we will ensure that there will be enough room for flexibility, so we can cater to the market changes in the future.

It’s a massive project, it’s ambitious, and I know that the development of Villar City will extend beyond my lifetime, but I believe this is my legacy and I’m willing to bet big on it. It’s my way of bringing the beauty and greatness of the world closer to more Filipinos.

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

think that China would first attack either Japanese or Philippine sovereign territory—and getting into a full-blown war against Japan and the US—prior to invading Taiwan is at this point unreasonable. Taiwan is not worth it and is much more useful as a continuous poke in the eye to the US. But what about the Ukraine?

peace, security, prosperity, and governance. But survey questions can be worded to get the answer you desire. “Are you in favor or not in favor of strengthening the military ties between the United States and the Philippines amid security tensions in the West Philippine Sea?” 75 percent said “Yes.” Sure. Why not? But is there another option? Maybe.

How about asking this question of Filipinos. “Are you in favor or not of both the US and China leaving the Philippines the hell out of their dangerous and non-productive geopolitical saber-rattling?” Should the Philipppines consider a Mutual Defense Treaty with both and then claim Malaysia invaded and stole Eastern Sabah? That could be interesting.

While there can be valid and critical discussion on how the US should

“For Beijing to have reasonable prospects of victory, the PLA [People’s Liberation Army] would have to move thousands of tanks, artillery guns, armored personnel vehicles, and rocket launchers across with the troops. Mountains of equipment and lakes of fuel would have to cross with them”: Ian Easton, a senior director at the Project 2049 Institute.

There are 32 United States military bases on Okinawa Island, a mere 627 kilometers from Taipei. Further, Japan has been rapidly building both its naval/air and ground troop military capabilities in the Southwestern portion of the Ryukyu Islands, the closest of which is only 110 kilometers from Taiwan. The northern door to China invading Taiwan is strong and hostile.The southern sea entry point is the Port of Kaohsiung, which is 456 kilometers from Pagudpud. To

If Russia wanted to, using the full might of its military (as China would have to do invading Taiwan), the Ukrainian capital of Kyiv could be reduced to rubble in days. Not worth it.

Currently, we have this fiasco over the resupply of the grounded BRP Sierra Madre on Second Thomas Shoal (Ayungin Shoal) with China and the Philippines claiming and counterclaiming various issues.

Considering that in 1999, the Philippine Navy intentionally ran her aground in order to maintain the Philippine’s territorial claim in the area, this issue has festered through four presidential administrations. Remember, it was only in late 2013 that the PRC embarked on large-scale reclamations at seven locations in the South China Sea. In 2014, the Chinese prevented two civilian vessels hired by the Philippine Navy from exchanging personnel and delivering supplies See “Mangun,” A9

On why we are (standing) still here

By Gustavo Gonzalez

WE celebrated World Humanitarian Day (WHD) on Saturday. It was on August 19, 2003, when the United Nations lost 22 colleagues in the tragic attack at the Hotel Canal in Baghdad, Iraq. Since then, we commemorate WHD every year, paying tribute to the many humanitarian workers who have sacrificed their lives to bring relief to the millions and millions of people affected by crises.

As of August 9, a total of 5,771 national humanitarian workers and 714 international staff across the globe have been either killed, wounded, or kidnapped while accomplishing their mission, as reflected by the Humanitarian Outcomes’ Aid Worker Security Database. Humanitarian work has become a highly risky responsibility.

We also acknowledge that the intensity, frequency, and overlapping nature of a new generation of crises —ironically captured by experts as “polycrisis”—is making humanitarian work still more complicated to the point of exhausting the capacities of an already overstretched humanitarian system.

While the demand for aid continues to grow, available funding falls tragically short. The gap between humanitarian needs and funding allocations is striking. Based on July 2023 report, requirements for the Global Humanitarian Overview (GHO) have increased to $55.2 billion to assist 248 million of the 363 million people in need. However, contributions just reached 25 percent of the total funding.

Luxury tax

Effective and accountable governance mechanisms form the bedrock upon which prosperous and resilient societies are built. By fostering transparency, accountability, and inclusivity, we lay the groundwork for sustainable development and the prevention of crises before they escalate. The proactive identification and mitigation of risks are instrumental in circumventing the impacts of crises. Allocating resources toward preventive measures can potentially avert ill effects. Finally, upholding the dignity and rights of every individual, regardless of circumstance, not only aligns with our moral compass but also contributes to stability, inclusivity, and sustainable development. Efforts also need to target those who face particular risks in humanitarian contexts, including women and persons with disabilities.

atty. rodel C. unciano

Tax Law for Business

THE Cambridge Business English Dictionary defines luxury tax as a tax on expensive goods that are not necessary but are bought for pleasure. As these goods are neither necessary nor essential for a living, many countries all over the world impose additional tax on certain transactions involving these nonessential goods.

In our jurisdiction, Section 150 of the 1997 Tax Code, as amended, enumerates three items that are considered as non-essential goods upon which a luxury tax, in the form of excise tax, is imposed. The goods considered as non-essential under the present Tax Code are as follows: 1) All goods commonly or commercially known as jewelry and similar goods made of, or ornamented, mounted or fitted with precious metals such as platinum, gold, silver and other metals of similar or greater value;

2) Perfumes and toilet waters; and

3) Yachts and other vessels intended for pleasure or sports.

there has been a move to increase the current tax on non-essential goods from the current tax rate of 20 percent to 25 percent and to expand the list of goods considered as non-essential. Under House Bill No. 6993, included as non-essential goods are wristwatches valued more than P50,000; bags, wallets, and belts valued more than P50,000; residential properties above P100,000 per square meter; and alcoholic and non-alcoholic beverages above P20,000 per liter.

bership clubs, jacuzzis, furs, and all regatta equipment.

According to the proponent of the bill, the non-essential goods tax will be on top of all other taxes. The tax on luxury cars, for example, will be on top of the automotive excise tax while the tax on luxury residential properties will be on top of VAT and other taxes on its sale. The tax is imposed at the point of importation or sale, for easier enforcement.

properties that are non-essential for a living.

Perhaps, the additional tax should instead be imposed on luxurious gadgets, appliances, fixtures, and even on luxurious food items and outfits, which are not essential for a living. I’m sure those who can afford these luxurious items are more than happy to share more to the government. And perhaps, providing preferential tax rates on transactions involving essential commodities may also be considered. Under our local tax laws, a lower business tax rate is imposed on the manufacture, production, sale or distribution of essential commodities such as rice, corn, wheat or cassava flour, meat, dairy products, fresh water products, medicines, animal feeds, school supplies, among others. While most of these essential commodities are exempt from VAT, perhaps special income tax rates on businesses engaged in these essential commodities may be considered to address the increasing prices of basic commodities.

From our field perspective, we are presently experiencing three major challenges, which are impacting our plans, work, and ambitions:

First, climate change, which has a multiplier effect on pre-existing vulnerabilities. And the Philippines knows very well about that. The country lies within the typhoon belt and is part of the Pacific Ring of Fire, exemplifying the intricate interplay between exposure to natural hazards, climate change impact, and humanitarian responses. More frequent and intense storms, such as the most recent super typhoon Odette in 2021, are exacerbating an already fragile situation and making the recovery process more arduous and expensive. These are compelling reminders that our conventional ways of relief must learn from experience and adapt if we want to effectively address the changing dynamic of climate emergency.

Second, the “unpredictability” of many emerging crises or—put into less diplomatic words—the uncontrolled nature of some crises that are escaping any measurement of their intensity, duration, and impact. The protracted crises in Syria and Yemen, as well as the emerging ones in Ukraine, Sudan, and now Niger, stand as self-evident examples of such disasters.

Third, the growing threats and risks that encircle humanitarian workers who are trying to save lives in the most challenging circumstances. While these dedicated individuals and organizations strive to provide support and relief, they still find themselves navigating a hazardous landscape.

In this unprecedented context, the significance of humanitarian work becomes even greater and more meaningful. However, it would be a mistake to think that the solution to humanitarian crises is, simply, more humanitarian support. No. The solution will always be political in nature. In fact, investing in good governance will always be critical. This means the capacity to better prevent conflict and improve resilience to natural disasters, as well as the capacity to find and sustain durable solutions to those most affected and most in need.

Continued from A8

The Philippines has faced these problems through the years. And humanitarian actions in the country are being practiced in all seasons using different strategies and approaches.

Recently, the humanitarian country team in the Philippines has been chosen along with other three country teams (Colombia, Niger, and South Sudan) to contribute to the improvement of the humanitarian system from their specific perspectives.

The project, known as the Enhancing Resilient Communities (ERC) Flagship Initiative will make the most of the longstanding experience of Filipino institutions and organizations in addressing the humanitarian impact of a wide range of shocks. Still more important, the initiative will be an opportunity to bring together the humanitarian and development communities and overcome artificial silos created by a very narrow aid architecture.

In this learning journey, the development of tailor-made responses that will not only take into account the needs and vulnerabilities of communities but also their strengths, capacities, and assets will be a key to success. Experience shows that the highly standardized humanitarian industry has sometimes precooked solutions that were disconnected from the socioeconomic and cultural specificities of affected communities.

As smartly framed by a recent report, just listening to communities is not enough to transform the prevailing humanitarian system Communities, as first responders, are expected to be part of the decision-making process and not just the subject of quick-needs assessment.

The ERC Flagship Initiative is also a unique opportunity to build alliances and reenergize coalitions to learn from each other and set a common sense of purpose in a context where multilateralism has been put at risk. More than ever, joining forces, capacities and resources appear as the most effective way of coping with, adapting to, and recovering from present and future shocks. At the heart of this process, solidarity remains the main engine for resilience building

This World Humanitarian Day, actions towards resilience have many faces. And so why are humanitarian efforts still important, and why are we standing still, despite many odds? …Because we are called to serve, #NoMatterWhat.

Gustavo Gonzalez is the UN Resident Coordinator and Humanitarian Coordinator.

while they are easy. Act on large issues while they are small.” The Philippine government apparently never read Lao Tzu.

Also included in the list are paintings above P1 million sold by persons other than the artist; antiques valued at P100,000 per item; automobiles, whether brand new or second-hand, valued at P10 million; and private aircraft and parts, except those for use by the Philippine government, or by airlines and logistics companies. Other items being considered are sales of shares in exclusive mem-

On residential property, there may be a need to review the threshold of P100,000 per square meter. While this amount is truly expensive and a price beyond the reach of the bulk of consumers, the reality is that, it is difficult to find nowadays a residential property in some areas in the country particularly in Metro Manila with a price that is less than P100,000 per square meter. Considering the current housing shortage in Metro Manila in particular, imposing additional tax on residential properties may not be a good idea. It may further complicate the acute housing problem that we currently face. This will further lead to the increase of prices of residential properties, thus, increasing the number of our population who cannot afford to live in a decent home.

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

As these are non-essential goods, the Tax Code imposes an excise tax equivalent to 20 percent based on the wholesale price or value of importation used by the Bureau of Customs in determining tariff and customs duties.

In a proposal pending in Congress,

Housing is a basic necessity. While it is expensive, it is a necessary thing in human existence. Hence, it should be made available and affordable to all. Instead of imposing additional tax on residential property, we can consider applying the tax on other

Taiwan’s biggest financial firm braces for deeper China turmoil

By Betty Hou & Argin Chang

TAIWAN’S biggest financial conglomerate has cut back on its exposure to China as it braces for any deeper fallout from the property crisis in the world’s second-largest economy.

Fubon Financial Holding, which operates banks and insurance companies, has been capping its risks in China over the past few years during Covid, and is now prepared for even deeper turmoil.

“China’s property distress will definitely impact Taiwan, as well as the global market if there are bigger and worse troubles,” Jerry Harn, president of Fubon Financial, said in an interview Thursday at the company’s Taipei headquarters.

Harn, who became president in 2017, said that the firm has cautiously capped its China positions since the pandemic, and is conducting less lending and investing activities with Chinese property developers. He added that Fubon has no exposures to Country Garden Holdings Co. and Zhongzhi Enterprise Group.   Stalled payments revealed over the past week at the Chinese shadow

bank Zhongzhi Enterprise has ratcheted up concerns over growing contagion from the country’s distressed property sector and weakening economy. Country Garden, once China’s biggest developer, is teetering on the edge of defaulting.

Using traffic lights as a metaphor to describe China’s housing turmoil, Harn said the current situation has only reached the mid-point as of yet, but warrants caution. “Don’t rush across the street when the yellow light is on,” he said.  Fubon Financial was one of the first Taiwanese financial companies to enter the Chinese market after taking a stake in Xiamen Bank Co. in 2008. It now fully owns a subsidiary bank in Shanghai, as well as several joint ventures offering insurance and private consumer loans in China.  Fubon isn’t alone in paring down in China among Taiwanese banks,

but total financial activities exposed to the mainland still sit at more than NT$1 trillion ($31.4 billion) as of June, according to the Financial Supervisory Commission.

Fubon’s total China exposure was NT$277.5 billion, not to include strategic investment in its Chinese bank unit and other companies, as of the end of June. Its banking business has NT$100 billion in exposure to China, making up 40 percent of its net value—higher than the peer average of 24 percent, according to data from the Financial Supervisory Commission.

The conglomerate has more than NT$10.6 trillion of assets under its helm, making it the largest financial holding company in Taiwan.

China risks

LIk E its industry peers, Fubon has been under pressure as the global financial market took unexpected hits from a series of disruptions including Covid, a surge in global interest rates and the war in Ukraine.

The firm is now looking to moderately increase its US-dollar bond positions as yields rise to favorable

levels, according to Harn.

The company will remain more conservative on equity investments, as China’s economic weakness could pose widespread risks to other economies.

“If an economy as large as China is not doing well, it will definitely have global impact,” Harn said. “Uncertainties in the equity market are still relatively significant.”

Fubon Financial suffered from a sharp dip in profits last year due to losses from insurance claims related to Covid and aggressive US rate increases. Net income fell to a near-decade-low of NT$46.9 billion in 2022, a 68 percent decline from a year earlier.

Though profits have been improving so far this year, with the company’s after tax profits rebounding to NT$55.5 billion as of July.  Managing liquidity becomes a key task in a turbulent market environment, and must be considered when allocating investments, said Harn.

The finance industry always needs to balance between maintaining sufficient liquidity and maximizing returns, he said. Bloomberg

Rights group says Saudi Arabian border guards killed hundreds of Ethiopian migrants

By Jon Gambrell & Evelyne Musambi

The Associated Press

DUBAI, United Arab Emir-

ates—Border guards in Saudi Arabia have fired machine guns and launched mortars at Ethiopians trying to cross into the kingdom from Yemen, likely killing hundreds of the unarmed migrants in recent years, Human Rights Watch said in a report released Monday.

The rights group cited eyewitness reports of attacks by troops and images that showed dead bodies and burial sites on migrant routes, saying the death toll could even be “possibly thousands.”

The United Nations has already questioned Saudi Arabia about its troops opening fire on the migrants in an escalating pattern of attacks along its southern border with wartorn Yemen.

A Saudi government official, speaking on condition of anonymity as he was not authorized to speak

publicly, called the Human Rights Watch report “unfounded and not based on reliable sources,” without offering evidence to support the assertion. Yemen’s Houthi rebels, who allegedly make tens of thousands of dollars a week smuggling migrants over the border, did not respond to requests for comment.

Some 750,000 Ethiopians live in Saudi Arabia, with as many as 450,000 likely having entered the kingdom without authorization, according to 2022 statistics from the International Organization for Migration. The two-year civil war in Ethiopia’s northern Tigray region displaced tens of thousands of people.

Saudi Arabia, struggling with youth unemployment, has been sending thousands back to Ethiopia in concert with Addis Abba.

Human Rights Watch said it spoke to 38 Ethiopian migrants and four relatives of people who attempted to cross the border between March 2022 and June 2023 who said they

saw Saudi guards shoot at migrants or launch explosives at groups.

The report said the group also analyzed over 350 videos and photographs posted to social media or gathered from other sources filmed between May 12, 2021, and July 18, 2023. It also examined several hundred square kilometers (miles) of satellite imagery captured between February 2022 and July 2023.

“These show dead and wounded migrants on the trails, in camps and in medical facilities, how burial sites near the migrant camps grew in size, the expanding Saudi Arabian border security infrastructure, and the routes currently used by the migrants to attempt border crossings,” the report said.

An April 27 satellite photo from Planet Labs PBC analyzed by The Associated Press showed the same tent structures identified by the rights group near al-Raqw, Yemen, on the Saudi border. Two sets of fence lines could be seen just across the border into Saudi Arabia.

The site Human Rights Watch identified as the migrant camp at Al-Thabit also could be seen in satellite images, which corresponded to the group’s narrative that the camp largely had been dismantled in early April.

Both areas are in northwestern Yemen, the stronghold of the country’s Houthi rebels. The UN has said that the Houthi-controlled immigration office “collaborates with traffickers to systematically direct migrants” to Saudi Arabia, bringing in $50,000 a week.

The Houthis have held Yemen’s capital, Sanaa, since September 2014. A Saudi-led coalition has battled the Houthis since March 2015, without dislodging them from the capital. Fighting has largely halted between the Saudi-led forces and the Houthis as Riyadh seeks a way to end the war. However, throughout the war years, the Houthis claimed multiple incursions across the Saudi border in this mountainous region. Musambi reported from Nairobi, Kenya.

The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rodel.unciano@ bdblaw.com.ph or call 8403-2001 local 140 to the Sierra Madre.Effectively for at least 10 years, nothing proactive was done about the situation and today we are paying the geopolitical price. “Deal with difficult tasks

PBBM CALLS FOR UNITY ON NINOY AQUINO DAY

PRESIDENT Ferdinand R. Marcos, Jr. called for national unity during the commemoration of the 40th death anniversary of former Senator Benigno “Noynoy” S. Aquino, Jr. on Monday to ensure the country’s continued economic growth.

In his statement for the commemoration of Ninoy Aquino Day, the chief executive noted how political differences continue to hamper the country’s welfare and progress.

Let us transcend political barriers that hamper us from securing the comprehensive welfare and advancement of our beloved people.” Marcos said.

“Let us allow this compelling force to promote collaboration, celebrate diversity, and create a society that is teeming with vitality and inspiration,” he added.

Former Senator Benigno S. Aquino, Jr. was among the notable critics of the president’s father, former President Ferdinand E. Marcos, Sr.

His assassination on August 21, 1983 sparked massive protests and was among the factors that led to the 1986 EDSA People Power Revolution.

To allow the annual commemoration of the event, Republic Act No. 9256 was passed into law declaring the 21st day of August each year as Ninoy Aquino Day.

D espite what happened between his father and Aquino, Marcos described the former lawmaker as a good role model for Filipinos.

“ By standing for his beliefs and fighting for battles he deemed right, he became an

example of being relentless and resolute for many Filipinos,” the president said.   He hopes that by focusing on national interests, Filipinos will be able to set aside “personal biases” and stride towards an “inclusive and more progressive Philippines.”

The ‘other’ August 21 event ON Monday, the nation also marked another big political event: the August 21, 1971 bombing of Plaza Miranda, with former Manila mayor, lawmaker and environment secretary Lito Atienza, one of the survivors, describing it as the death knell of democracy.

A tienza said that while later events showed it was not Ferdinand Marcos Sr. who ordered the bombing—as initially thought by many‚ it gave the then president a reason to suspend the writ of habeas corpus and subseaquently declare martial law in 1972. Atienza also noted that the bombing nearly decimated a generation of political leaders.

A tienza, described at the Kamuning Bakery forum as perhaps the only major political leader alive among the survivors of Plaza Miranda, also said he did not believe Ninoy Aquino was a co-plotter in the bombing, which explains his absence when it happened.

Neither does he think, said Atienza, that the then President Marcos had a hand in Ninoy Aquino’s airport assassination in 1983. However, he left it up to reporters to “guess” who the brains could have been.  Samuel P. Medenilla, Butch Fernandez

Accor will still manage Sofitel PH Plaza despite reclamation controversy

By Ma. Stella F. Arnaldo @akosistellaBM

Special to the BusinessMirror

INTERNATIONAL hospitality chain Accor remains committed to managing Sofitel Philippine Plaza, despite the reclamation of Manila Bay, which has already blocked its guests’ view of Manila’s iconic sunset from the hotel’s pool area.

I n a statement sent to the BusinessMirror , Accor said, “Sofitel Philippine Plaza Manila has become a cornerstone of the country’s capital since it first opened its doors in 1976. Throughout the years, the hotel has continuously adapted to the ever-changing landscape of Manila. The hotel remains committed to working alongside the local authorities to ensure that minimize any disruptions to the guests whilst the reclamation project takes place.”

A ccor added, “We look forward to the future and adapting to the opportunities that the city’s expansion will bring. Sofitel Philippine Plaza Manila is dedicated to improving the guests’ experience by implementing several enhancement projects over the next 12 months. Accor has a longstanding relationship with the owning company of Sofitel Philippine Plaza Manila that we look forward to continuing into the future.”

Pasay-SM partnership

THE “owning company”, Philippine Plaza Holdings Inc., will be rehabilitating the 50-year-old hotel, which sits on a property leased from the Government Service Insurance System. The holding firm estimated that the refurbishment will cost

notice on reclamation could shoo away investors’

H owever, former lawmaker, three-term Manila mayor and environment secretary Lito Atienza fully supported the President’s move to order the suspension of projects until after a thorough review led by the Department of Environment and Natural Resources (DENR).

A tienza told journalists at the Kamuning Bakery Forum reclamation should only be allowed under “extremely justified” exceptions, such as if the government badly needed land for a well-planned resettelement program for the homeless.

A tienza said all stakeholders should support the review of nearly two dozen projects, as announced by DENR secretary Maria Antonia

Yulo-Loyzaga, because reclamation effectively deprives future generations of their right to benefit from the country’s resources.

He noted that way back when he was vice mayor of Manila, the city council he led had enacted an ordinance banning reclamation at Manila Bay, but this was reversed by succeeding administrations.

T he current mayor, Honey Lacuña, was, however, “bypassed” in the decision-making for the current reclamation projects that DENR halted upon President Ferdinand R. Marcos Jr.’s orders, Atienza added. The latter said he asked Lacuña why so many reclamation projects were approved in Manila, and she explained that the proponents did not get permits from her office.

A sked if he would support congressional investigations of the flurry of reclamation projects that critics worry would make it impossible to follow the Supreme Court’s mandamus ruling to clean up and rehabilitate Manila Bay, the former deputy speaker said such inquiries by either house of Congress must lead to prosecution and imprisonment for those who have laid to waste the natural resources.

‘Difficult to deal with PHL’ THE suspension of reclamation could backfire on the Philippine investment climate however, accord -

ing to Sergio Ortiz-Luis, Jr., president of the Philippine Exporters Confederation, Inc. (Philexport). He emphasized the suspension of reclamation projects in the country might not bode well for investors. The problem is the president and a lot of us are trying to get investments abroad, and one of the things that they’ve (investors) been telling us is that it’s very difficult to deal with the Philippines because of our inconsistent policies. That is why they choose Vietnam or Thailand,” Ortiz-Luis said in a televised interview on Saturday.

Continued on A5

them some P4 billion.

Accor is the leading international hotel operator in the Philippines with 10 hotels, resorts and branded residences currently operating and a committed pipeline of 16 hotels scheduled to open within the next five years. Its other brands are also looking to add more properties to manage in the country. (See, “Fairmont looking to expand its footprint in PHL–exec,” in the BusinessMirror, February 24, 2023.)

A recent video of the hotel’s backyard, shot by economist and UP Professor JC Punongbayan, has been making the rounds of social media and showed a wall of soil and sand on the bay waters.

T he reclamation of Manila Bay behind Sofitel Philippine Plaza is a project of the Pasay City government, in partnership with the SM Group. The project spans 260 hectares and estimated to cost P72 billion.

‘Wala nang dagat’—PBBM

SOURCES in SM Group intimated that the group has been “talking” with the hotel owner and operator to enjoin their cooperation amid the reclamation activities. In a news statement on December 6, 2019, SM Prime Holdings Inc. said the reclamation project will cover 360 hectares of Pasay City’s municipal waters, and will be connected to the Mall of Asia complex, which also sits on reclaimed land.

S M Group sources said the new reclamation project will be a “mixed-use” development and include condominiums and other living spaces, along with commercial and retail areas.

40 YEARS AGO

KIKO AQUINO DEE, grandchild of the late Sen. Ninoy Aquino, flashes the Laban sign during the wreath laying (above) to mark the 40th death anniversary of the slain former senator at the old Manila International Airport where he was gunned down. In Quezon City, relatives and friends heard Holy Mass at the Sto. Domingo Church (left), organized by the Ninoy and Cory Aquino Foundation and celebrated by Archbishop Socrates Villegas.

on Ninoy Aquino Day, top left. NONIE REYES/NONOY LACZA

By Andrea E. San Juan

THE head of one of the country’s big business groups on Monday  said “advertising” that the Philippines is halting reclamation projects might drive away potential investors.

‘Halt

Story

FORMER Manila mayor, DENR chief and deputy speaker Lito Atienza (left) assails the flurry of reclamation projects at the Kamuning Bakery Forum in Quezon City on Monday, August 21, 2023. At right, Philexport president Sergio Ortiz-Luis Jr., who warned that the suspension of reclamation could negate the drive to attract investors JOEL C. PAREDES/BUSINESSMIRROR FILE PHOTO

Editor: Jennifer A. Ng

Companies

B1

Tuesday, August 22, 2023

Exempt small RE firms from listing rule, ERC tells solons

By Lenie Lectura @llectura

Villar: Expansion of AllDay, AllHome to resume in 2024

some areas,” Villar said.

“If the committee can consider the suspension of this requirement for the small R e facilities and those standalone or what we call single asset owners [as] they are not part of portfolio. They are not big developers.

We know that the permanent solution is an amendment to the law, but if that cannot be done quickly we hope that the committee can consider the suspension,” said eRC Chairperson Monalisa Dimalanta told lawmakers during a hearing

last week. Section 43 of e p ira requires generation companies (gencos) to publicly offer and sell not less than 15 percent of their common shares of stocks. The eRC said 51 percent of gencos, or 118 out of 143, have failed to comply. Out of the 118, 65 are R e companies, of which 24 are small R e firms.

eRC proposed the suspension of the public offer requirement to gencos which are owning and operating R e facilities, and not part of a portfo-

lio of gencos under a common parent company established or maintained as a holding company specifically for subsidiaries engaged in the business of power generation.

“When ePIRA was passed, the R e Act was not yet enacted. The R e law was enacted in 2008 so ePIRA could not have contemplated the emergence of small R e companies. Onemegawatt solar plant, for example, could not have contemplated these companies to go and do public listing.

Because now the effect is that this small R e companies or companies that are not able to do public listing cannot get a certificate of compliance [COC], which requires the public offer listing,” Dimalanta told lawmakers.

SMC Consolidated Power Corp. (SCPC), a wholly-owned subsidiary of SMC Global Power holdings Corp., has already asked the eRC to amend the 2011 and 2019 eRC Resolutions, and proposed to consider that the listing of the ultimate parent company of gencos and distribution utilities (DUs), reaching up to the reasonable sixth level of corporate relations, as compliant with the public offering

requirement. The eRC resolutions limit to only two corporate layers in determining whether a genco or DU will be considered as compliance with the public offering requirement.

SCPC, which operates the Limay plant, is seeking renewal of its COC from the eRC. however, it needs to submit proof of compliance with public offering requirements.

The company said there is basis to consider San Miguel Corp. as the holding company of SCPC.

“There is a need to amend 2011 and 2019 Resolutions to incorporate the application of the Grandfather Rule and the definition of the honorable Supreme Court of holding companies in ascertaining compliance with the Public Offering Requirement,” SCPC had said.

Consequently, SCPC asked the eRC to suspend the implementation of the 2011 and 2019 Resolutions pending resolution of its petition.

“This is so that gencos and DUs similarly situated as petitioner will not be unduly penalized or negatively affected until this matter is properly resolved by the Commission.”

Weather cools power spot prices

The average electricity spot market price from August 1 to 17 stood at an average of P5.43 per kilowatt-hour (kWh), data from the Independent electricity Market Operator of the Philippines (IeMOP), operator of the Wholesale electricity Spot Market (W e SM), showed.

W e SM prices in June reached P6.67 per kWh. This went down to P5.66 per kWh in July. The decline was attributed to a slight increase in the average supply margin. higher

supply margin means improved market conditions, with an adequate electricity supply available to meet consumer demand.

IeMOP is hoping that final W eSM prices for this month would further go down from what was recorded last month as the energy sector adapts to the cooler weather. The W eSM operator will report next month the final numbers for August.

IeMOP Corporate Strategy and Communications head Isidro Camacho earlier noted improvements

By Lorenz S. Marasigan @lorenzmarasigan

SA n Miguel Corp. (SMC) said on Monday it is training 115 “promising engineering graduates” to prepare them for the commercial operations of the Metro Rail Transit (MRT) Line 7 in 2025.

In T e R n A TIO n A L Container Terminal Services Inc. (ICTSI) said on Monday its Australian subsidiary has expanded its capacity with the introduction of new automated stacking cranes (ASCs).

ICTSI said Victoria International Container Terminal (VICT), which operates out of the Port of Melbourne, has beefed up its capacity with the acquisition of six new ASCs.

“Purchased as part of VICT’s ongoing expansion project, the new ASCs will operate on three new yard modules to increase the terminal’s yard and reefer capacity by 30 percent and 43 percent, respectively,” the company said in a statement.

Fifteen additional truck grids will also be added to the landside to increase slot availability by 30 percent, the company said.

Aside from this, ICTSI said VICT is also purchasing two new larger ship-to-shore (STS) cranes, bringing total STS fleet to seven. The new cranes will have an outreach of 22 containers to enable the handling of up to 14,000-T eU capacity ne oPanamax ships. Lorenz S. Marasigan

Ramon S. Ang, the company’s president and CeO, said the company has “selected” graduates from “various universities” but most came from the Polytechnic University of the Philippines’s (PUP) Railway eng ineering Program.

Some of them have started training in the Philippines, while the top 40 cadets were sent to South Korea to train under its national railway operator, Korail, also SMC’s partner in the MRT-7.

“Investing in the growth, development and well-being of young local talents is part of our commitment to nation-building and ensuring our country’s long-term success and prosperity,” Ang said.

“We want to be able to provide them with the tools they need to enhance their competencies, prepare them for when the MRT-7 starts operating and eventually make meaningful contributions to the wider community. I am confident they will not only shine but also redefine standards.”

Over 500 applicants initially underwent panel interviews and screening for the program. This in-

in terms of plant outages and plant performances.

“If all these good conditions continue then possibly we can sustain or even see further lowering in prices, unless there are unplanned outages.”

Based on IeMOP data, the average demand in Luzon and Visayas from August 1 to 17 stood at 11,283 megawatts (MW) as against a supply of 15,396MW.

For July, the average supply for the two main major islands was at 14,917MW against a registered de-

mand of 11,386MW.

In Mindanao, W eSM prices from August 1 to 17 stood at P4.86 per kWh.

The W eSM is a centralized venue for buyers and sellers to trade electricity as a commodity where prices are determined based on actual demand and supply.

The W e S M began commercial operations in Luzon in June 2006, December 2010 in the Visayas, and January this year in Mindanao. Lenie Lectura

By VG Cabuag @villygc

BUSIneSSMA n Manuel B. Villar Jr. is resuming the expansion programs of his two listed retail chains—the big-box home improvement store owner Allhome Corp. and grocery chain operator AllDay Marts Inc.

“By next year, we will resume our expansion. We will start with the expansion of AllDay and Allhome next year,” Villar said.

Villar is chairman of the two listed companies, while his other retail and restaurant concepts are under privately-held AllValue holdings Inc. he said the upcoming expansion will focus on smaller, free-standing stores that still offer the same products and services as their bigger counterparts.

“We started our expansion with big store formats but we are now discovering that smaller store formats can also work in

With consumers returning to brick-and-mortar stores to shop for their grocery needs, AllDay Supermarket reported that its net income surged to P172 million in the first half from P12 million in the same period last year.

“We are pleased with AllDay’s steady business results for the first half of 2023,” Villar said.

Revenues grew 6 percent to P4.89 billion during the period, from the previous year’s P4.59 billion.

“With the return of customers to in-person retail or revenge retail giving rise to many opportunities, our supermarket concept continues to capitalize on a market that is getting a lot more comfortable with spending time shopping in-store again,” Villar said.

Meanwhile, a growing number of homeowners furnishing their condominium units boosted the second quarter earnings of Allhome, a reversal of its first quarter’s performance.

cluded an aptitude test for train operators and traffic controllers. The 115 candidates who were cleared began training last March.

SMC tapped South Korea’s Korail and the government-run Philippine Railway Institute (PRI) to provide industry-level insights and understanding in train operations and maintenance for its railway cadets, who will become skilled train operators and traffic controllers.

Korail’s corps of railway professors began classroom lectures in Manila in May, with the entire batch of cadets in attendance. After further performance evaluations, the top 40 cadets were sent to Seoul to continue their training at the Korail facility.

This includes hands-on training using a driving simulator, exposure to core technology for driving and operations, railway control systems, first aid and emergency, and familiarization with the railway depot.

Meanwhile, 75 other cadets are undergoing the mandatory Fundamental Training (FT) course of the PRI, the rail transportation research and training center attached to the Department of Transportation.

The FT course provides an industry-level appreciation of railway operations and maintenance and seeks to provide aspiring railway professionals “the opportunity to learn technical skills and fundamental processes, with multiple paths to specialization and advancement within the railway sector.”

Cadets who graduate from the course become certified railway professionals such as train operators, traffic controllers, and maintenance personnel.

Once completed, the MRT-7 will have 14 stations, namely: Quezon north Avenue Joint Station; Quezon Memorial Circle; University Avenue; Tandang Sora; Don Antonio; Batasan; Manggahan; Dona Carmen; Regalado; Mindanao Avenue; Quirino; Sacred heart; Tala; and San Jose del Monte. It can accommodate 300,000 passengers in its first year of operations, and up to 850,000 passengers daily in its 12th year.

The project will also feature an intermodal transportation hub catering to other types of public transportation, as well as a 19-km highway from San Jose del Monte to Bocaue, Bulacan. As of mid-June, MRT 7 is at 61.92 percent completion.

The energy Regulatory Commission (eRC) is asking the Joint Congressional energy Commission (JCeC) to spare small renewable energy (Re) firms from the public listing requirement under the electric Power Industry Reform Act (epira) of 2001.

SMC trains engineers for MRT-7

ICTSI unit in Australia expands capacity

Cuts on energy-related taxes pushed in House

By Jovee Marie N. dela Cruz @joveemarie

ASEnIOR lawmaker is seeking approval of a bill that would cut taxes on energy-related products and services as fuel costs rise and crimps consumers’ purchasing power.

Camarines Sur Rep. LRay F. Villafuerte is pushing for price-cut proposals after oil companies raised pump prices of gasoline and diesel on August 15 for the sixth time in six weeks.

In House Bill (HB) 8231, Villafuerte seeks to amend various sections of the national Internal Revenue Code (nIRC) of 1997 by imposing a temporary suspension for three years of tax payments to lower electricity rates and the retail prices of fuel products.

Villafuerte explained his proposal measure seeks to reduce the excise tax on petroleum products and coal by 50 percent, suspend the imposition of applicable duties on their importation, and exempt the system loss charge in the sale of electricity from the value-added tax (VAT), for a period of three years.

The former CamSur governor said he filed the bill “in a bid for the 19th Congress to mitigate the effects of the imposition of VAT and the increased excise taxes on petroleum products and coal that are too much of a burden on consumers and businesses as we recover from the effects of Covid-19 and elevated inflation.”

Villafuerte noted that national Economic and Development Authority (nEDA) Secretary-General Arsenio E. Balicasan himself conceded recently that high inflation remains a challenge and might dampen future growth.

Despite the steady decline in overall inflation from 8.7 percent in January to 6.1 percent in May, Balisacan said that high commodity prices still pose a threat to the country’s postpandemic recovery.

Excise taxes

HB 8231 proposes to amend Section 109 of the nIRC by exempting from VAT payment the system-loss charge

Gen Zs boost tax contributions

By Jasper Emmanuel Y. Arcalas @jearcalas

welfare,” he replied to emailed queries from the BusinessMirror.

in the sale of electricity for a period of three years from the date of effectivity of this proposal.

It also wants to amend Section 148 of the n I RC by reducing by 50 percent for three years the excise tax payments on petroleum products.

Moreover, it aims to cut by half, also for three years, the excise taxes on coal and to suspend for the same period the collection of applicable duties on imports of coal and petroleum products.

The bill provides that within 30 days from the effectivity of this proposed act, the Secretaries of the Department of Energy and Department of Finance shall, upon the recommendation of the Commissioner of the Bureau of Internal Revenue, promulgate the necessary implementing rules and regulations for its effective implementation.

Demand, cuts

LAST August 15, oil firms imposed adjustments in their pump prices for the sixth straight week in the same number of weeks, with the per-liter hike amounting to P1.50 for diesel and P1.90 for gasoline.

According to reports, since July 11, the pump price of diesel has gone up by P12.30 per liter and that of gasoline by P7.55.

Rising demand for fuel along with output cuts from Saudi Arabia have tightened global oil supply, triggering a spike in prices that recently hit $88 a barrel, the highest since January.

From an average per-barrel cost of about $80 at the onset of 2022, the global benchmark Brent rate went up to as high as $139.13 at one point last year, raising speculation that local fuel prices could hit P100 a liter.

The Bangko Sentral ng Pilipinas (BSP) said last week that inflation will likely swing upward due to higher international oil prices.

The BSP also pinned on oil prices the cause for the country to miss growth targets set by the Development Budget Coordinating Committee. (See https://businessmirror. com.ph/2023/08/21/bsp-phlmay-miss-dbcc-growth-goals/)

According to the homegrown technology firm, Filipino Gen Zs contributed to the shrinking of the number of poor tax payers and to the increase of upper-middle class online taxpayers.

The share of the poor in the online taxpayers population of Taxumo in 2023 was at 26.2 percent compared to the 32.7-percent share last year, according to the firm’s “State of Online Taxation” report.

“We think it’s a sign that [those belonging to the] ‘Generation Z’ [are] becoming more aware of different income options,” Taxumo CEO Eugene Jose Arboleda told the BusinessMirror. “Most don’t just earn from one job: most experiment and try out many different sources of income for which they responsibly pay their taxes.”

The report by the online platform operator accredited by the Bureau of Internal Revenue (BIR) showed that online tax payments made by Filipinos through Taxumo rose by 100 percent year-on-year to about P172 million.

Poor taxpayers

In terms of socioeconomic class, poor taxpayers—those earning less than P9,100 (about $161) monthly—accounted for 26.2 percent of the online taxpayers recorded by Taxumo this year.

It was followed by the lowmiddle income class, who earned between P18,200 (nearly $323) and P36,400 ($646) monthly, accounted for 19 percent. The middle class, who had a monthly income of P36,400 to P63,700 (nearly $1,130) formed 16.2 percent of online taxpayers using Taxumo’s platform.

Eight frugal habits that may not be worth it

OnE common but practical advice that we financial planners give is to live within one’s means. Given that we only earn a limited income per month either as employees or employers, our expenses should be allocated to fit within that income stream.

However, there are cases that being too tight or frugal can be counterproductive. Instead of uplifting one’s lifestyle, the health and wellbeing of a hardworking person is already put at risk. Here are some frugal habits that are not worth the time, and how to improve them:

1. Extreme couponing. You may have seen this in a video wherein a person was able to save $120-worth of groceries by claiming a ton of coupons. While an impressive effort, the amount of time spent gathering coupons could have been spent on more productive income-earning opportunities instead. A better alternative would be to focus only on coupons for items that you regularly purchase.

2. Cutting out all entertainment spending. Completely eliminating entertainment or expenses that bring you joy and motivation, such as dining out, watching movies, or buying plants, can be counterproductive. Instead of saving money, you are depriving yourself of the asset that helps you earn more and more productively, which is yourself. The better alternative is to set a fixed budget for entertainment that is within reason: treat yourself to a quality home-cooked meal; enjoy a spa once a month; or, explore free

local events.

3. Buying cheap food. if you think you are saving money by buying and consuming only fast food and canned produce, then you are in for higher healthcare costs in the future. Taking care of your body allows you to think better and become a more productive asset to yourself and your family. Cook and consume vegetables and fruits that are in season. Do home workouts or community classes. Maintaining good health need not be expensive.

4. Avoiding professional advice. When dealing with complex financial matters, medical conditions, or legal issues, it is often wise to consult experienced, practicing professionals who can provide tailor-fit guidance to prevent costly financial mistakes, wrong medical diagnosis that could be fatal, or major legal blunders. One cannot be an expert in all fields; hence, it is more cost-effective to consult other people from time to time.

5. Skipping necessary maintenance. Delaying essential vehicle maintenance such as engine oil change can lead to more significant problems and higher costs down the line. It would be better to regularly take care of assets and conduct regular small maintenance to avoid larger expenses.

6. Hoarding bargains. Buying bargain items can be good if you will be using them regularly either in personal or business use. Buying items solely because they are on sale or available at a discount might lead to unnecessary clutter and space waste. Instead of buying whatever is on bargain, choose items that are of better quality and greater durability. That way, you need not keep buying the same item twice.

7. Neglecting health insurance. If you feel that you will not get sick anytime in the future and decide to skimp on purchasing health insurance while you are still young, you might end up paying high outof-own-pocket medical expenses, which can deplete your life savings. To avoid such a scenario, choose a health insurance plan that strikes a balance between affordability and coverage.

8. Skimping on education and skills development. Tuition can be expensive, but the learnings you acquire can be vital to your career growth. In today’s age, one must continually invest and update oneself in order to be competitive in the job and the market so that your income can grow as well. Invest in courses, certifications, and skills that support your long-term career goals and can lead to higher income rates over time.

Raymond Anthony Quisumbing is a Registered Financial Planner of RFP Philippines. Follow him on Twitter at OhMyFinancePH. To learn more about personal-financial planning, attend the 103rd RFP program this September 2023. To inquire, e-mail info@rfp.ph or text at 0917-6248110.

The shares of other socioeconomic classes are as follows: upper-middle class (15.4 percent), low income (9.5 percent), high income (8.8 percent) and rich (4.9 percent).

According to Taxumo, there were “improvements” in the “socioeconomic divide” of online Filipino taxpayers as “more people [are] moving upward in terms of socioeconomic class” while the economy adjusts to “The new normal.” Arboleda told the BusinessMirror the increase in the number of the “poor” paying taxes online may be due to “the increased economic activity post-pandemic, which led to better activity for businesses.”

“While we think that this phenomenon should be contextualized in how our economy has been performing during the pandemic, we perceive this as a promising sign of improving economic opportunities and work

Tech openness

TAXUMO’S report showed that Millennials led the number of online Filipino taxpayers with a 74.1-percent share followed by Gen Z at 12.6 percent. This is the first time that the Gen Z surpassed those belonging to the “Gen X” in terms of the number of online tax payers. This year, GenXers accounted for 11.7 percent while Boomers had a 1.5-percent share.

Arboleda attributed the increase in Gen Z taxpayers to the influx of young Filipinos to the country’s workforce coupled by their openness to use new tax technologies and tools.

However, in terms of total income declared by generation, Gen Zs ranked third with a share of 9 percent behind Gen X (15.8 percent) and Millennials (73.9 percent).

“This is because Gen Z’s total income declared is collectively lower than the other generations,” Arboleda said.

He said they estimate a sustained growth in terms of the amount of taxes being remitted to the BIR through its platform as “more and more taxpayers enter the field, especially the growing Gen Z population of professionals and small business owners.”

Service industry

ARBOLEDA also pointed out that “Internet penetration has pushed digital

tools like Taxumo to an underserved and fast-growing market.”

Taxumo defined online taxpayers as those who were subscribed to the platform’s services in complying with their tax obligations. These online taxpayers include freelancers, selfemployed professionals and owners or operators of small-scale and medium-sized businesses.

Taxumo’s report revolved around the following aspects: growth of online taxes remitted to the BIR, socioeconomic class divide, demographic profile of online taxpayers, and tax compliance by women and non-binary online.

“We saw that more than half of the filings made by online Filipino taxpayers come from service-oriented businesses. Some of the businesses that fall under this classification are: Events Management, Travel Agencies, Supplies, and Social Media Agencies (to name a few),” the report read. “Meanwhile, industries like IT & Tech (Software and Computer Related Services) come at a distant second. This may mean that a significant number of professionals in the technology field (such as software developers and engineers) are choosing to set up their own businesses,” it added.

The report covered taxpayers who declared their incomes to the BIR within 2023, according to Taxumo. Taxumo said it currently has more than 80,000 users registered.

GOVERNMENT should tip its hat to Filipinos born after 1996—called “Gen Zs”—for higher tax contributions, according to online tax-payment platform operator Taxumo Inc.

PErSonal financE

raymond anthony Quisumbing

Marivic Rufino marks her return with ‘Scintilla: Dreamscapes’

Rufino’s comeback exhibition, her 19th solo, titled Scintilla: Dreamscape s.

“

This is a renaissance of sorts after a long pause,” said Rufino, who dealt with major losses in her family during the pandemic. She asserts that she “survived” and “continued to build slowly,” as Rufino now presents in her return showcase a wide combination of new creations and old pieces. Presented in total are 23 paintings and five functional artworks.

TODAY’S HOROSCOPE

By Eugenia Last

CELEBRITIES BORN ON THIS

DAY: James Corden, 45; Kristen Wiig, 50; Adewale Akinnuoye-Agbaje, 56; Ty Burrell, 56.

HAPPY BIRTHDAY: Look at every angle and size up what’s possible. Use your imagination and skills to reach your goals. Refuse to let emotional situations bring you down. Rise above any controversy you encounter and turn a negative into a positive. Use your intelligence and experience to outmaneuver anyone trying to exploit you. Responsiveness will get you where you want to go this year. Trust and believe in yourself. Your numbers are 4, 15, 21, 29, 32, 40, 44.

aARIES (March 21-April 19): Do and give what you can, even if someone tries to guilt you into taking on more. Know your limitations and strengths and apply what’s applicable. Sport a trendy look that boosts your confidence and motivates you to make your presence felt. HHH

bTAURUS (April 20-May 20): Express your thoughts, expand your mind and make changes to improve your lifestyle. Optimize your skills to suit what’s trending. Protect against illness, injury and getting involved with the wrong people. Concentrate on work. HHH

cGEMINI (May 21-June 20): Pay attention to what’s happening at home and with personal relationships. Listen carefully, respond and watch how others react. Honesty will lead to better choices. Self-awareness and improvement will increase your confidence. HHH

Let me weave the strands of my story, The scintilla and artifice of my art, every Side of the image, every rune or baybayin Of the Celt or Hanunóo, my messages Of love and longing carved on tubes

An excerpt of “Dreamscapes” by Marne

Kilates

IT took seven long years, but multihyphenate Marivic Rufino has found her way back into the spotlight of visual arts. On view at Conrad Manila’s Gallery C as part of its long-running “Of Art and Wine” series is

A columnist, businesswoman, and concert producer, among other things, Rufino studied painting in both the Western and Chinese traditions (Ling Nan) under various masters in Manila and New York. She graduated with honors from Marymount Manhattan College, New York, after finishing high school as valedictorian at Marymount International School in Barcelona and Rome.

Rufino’s latest exhibition slots as the latest with her recurring theme of “Dreamscapes,” featuring her brand of poetic minimalism. True to the concept, her artworks appear suspended in a realm outside reality, marked by caresses of gentle brushstrokes and muted colors.

Provenscape shows a sprawling and

blooming field before a hopeful horizon.

Giverny Reverie, meanwhile, is the artist’s tribute to Monet, with an idyllic scene of calm waters surrounded by lush greeneries dotted by crawling flowers. Rufino also expressed her love for horses with mixed media works Pas de Deux and Duet Rufino said that art is a way of sharing her blessings, particularly with Marian Missionaries, a center for abused women, and the Child Protection Network. She began supporting them 30 years ago and continues to do so through her art, production and writing.

According to Fabio Berto, Conrad Manila’s general manager, Rufino’s exhibit provides their guests with a new and elevated creative experience. “It also reminds them of our promise and commitment to filling the world with light and warmth of hospitality, while taking utmost consideration of the environment through sustainable practices.”

“I want the audience to feel the emotions and colors,” Rufino said. “I hope that my paintings will bring peace, love and compassion to the hearts of the viewers.”

Rufino’s Scintilla: Dreamscapes runs at Conrad Manila’s Gallery C until October 21.

Florida art museum sues former director over forged Basquiat scheme

ORLANDO, Florida— A central Florida art museum that was raided last year by the FBI over an exhibit of what turned out to be forged Jean-Michel Basquiat paintings has sued its former executive director and others, claiming they were part of a scheme to profit from the eventual sale of the fake artwork.

The Orlando Museum of Art filed the lawsuit early last week in state court against former CEO Aaron De Groft and others whom the museum says were involved in the scheme, seeking undisclosed damages for fraud, breach of contract and conspiracy.

The 99-year-old museum, also referred to as OMA, was left with a tattered reputation that resulted in its being put on probation by the American Alliance of Museums, the lawsuit said.

OMA spent hundreds of thousands of dollars—and unwittingly staked its reputation— on exhibiting the now admittedly fake paintings,” the lawsuit said. “Consequently, cleaning up the

aftermath created by the defendants has cost OMA even more.”

Basquiat, who lived and worked in New York City, found success in the 1980s as part of the Neoexpressionism movement. The Orlando Museum of Art was the first institution to display the more than two dozen artworks said to have been found in an old storage locker decades after Basquiat’s 1988 death from a drug overdose at age 27.

Questions about the artworks’ authenticity arose almost immediately after their reported discovery in 2012. The artwork was purportedly made in 1982, but experts have pointed out that the cardboard used in at least one of the pieces included FedEx typeface that wasn’t used until 1994, about six years after Basquiat died, according to the federal warrant from the museum raid.

De Groft had repeatedly insisted that the art was legitimate at the time of the exhibit last year. The court docket in Orlando didn’t list an attorney for De Groft. AP

dCANCER (June 21-July 22): Let your mind wander, and you’ll conjure a way to make your dreams come true. Step outside your comfort zone; an exciting turn of events will help you revamp your long-term plans. Discuss your needs and concerns, and find out where you stand. HHHHH

eLEO (July 23-Aug. 22): Avoid anyone who brings you down or takes advantage of you. Taking on too much will make matters worse. Make your priorities personal gain, physical improvement and nurturing meaningful relationships. Be a good listener, and you’ll gain perspective regarding personal possibilities. HHH

fVIRGO (Aug. 23-Sept. 22): You’ve got more going for you than you realize. Don’t hesitate to speak your mind and set your plans in motion. Discipline and research will get you where you want to go and bring about lifestyle changes that ease stress. HHHH

gLIBRA (Sept. 23-Oct. 22): Avoid getting trapped in someone else’s agenda. Be clear about your position, and you’ll shake off any backlash about inconsistency. Actions will send a message that stabilizes your life and encourages you to open new doors. Romance is favored. HHH

hSCORPIO (Oct. 23-Nov. 21): You’ve got plenty of options. Open your eyes, discuss your plans with knowledgeable people and push for changes that make your life easier and connect you to associates who can help you navigate your way forward. Don’t jeopardize your health or position. HHH

iSAGITTARIUS (Nov. 22-Dec. 21): Take charge and finish what you start. Action will set you apart from those who prefer to talk a lot and produce very little. Leave your credit cards at home and avoid emotional spending. Trying to buy love or favors will cost you dearly. HHH

jCAPRICORN (Dec. 22-Jan. 19): Quicken the pace, speak up and aim to make a difference. Your vision is grand, but cutting corners wherever possible will be necessary to maximize your efficiency. Reach out to a friend, relative or associate who can help you reach your objective. HHHH

kAQUARIUS (Jan. 20-Feb. 18): Keep your thoughts to yourself, and you’ll bypass getting into an intellectual disagreement. Pay attention to health, nutrition and fitness to avoid criticism and physical setbacks. Put your energy into something creative that soothes your soul, heightens your awareness and brings you joy. HH

lPISCES (Feb. 19-March 20): Take on whatever comes your way with a determined attitude and a foolproof plan. You can make a difference if you adjust your lifestyle to designate more time where it counts. Let your heart lead the way and your actions speak for you. HHHHH

BIRTHDAY BABY: You are intelligent, generous and changeable. You are talkative and creative.

‘seismic event’ BY DREW SCHMENNER

Gundlach

,

2015, mixed media, 20” x 14”

THE entrance to an exhibit by artist Jean-Michel Basquiat is seen at the Orlando Museum of Art, June 1, 2022, in Orlando, Florida. AP

‘Blue Beetle’ unseats ‘Barbie’ atop box office, ending four-week reign

By Jake Coyle The Associated Press

NEW YORK—The DC superhero film Blue Beetle led weekend ticket sales with a modest $25.4 million opening, according to studio estimates Sunday, dethroning Barbie from the top spot after a record-setting run that left movie theaters colored pink for a month.

The Barbie phenomenon is far from over. Greta Gerwig’s film, which earlier this week became the highest grossing Warner Bros. release ever domestically, nearly managed to stay No. 1 again with $21.5 million in its fifth weekend. It’s up to $567.3 million in North America and an eyepopping $1.28 billion globally.

The other half of “Barbenheimer” also continues to perform remarkably well for a movie so far into its run.

Christopher Nolan’s Oppenheimer took in $10.6 million in its fifth week. With a $285.2 million domestic total, Oppenheimer now owns the distinction of being the biggest box-office hit never to land No. 1 at the weekend box office. The previous record-holder for that unlikely stat is 2016’s Sing , which grossed $270.3 million in the shadow of Rogue One: A Star Wars Story and Hidden Figures

Universal Pictures’ Oppenheimer has done even better overseas. Its global gross stands at an estimated $717.8 million through Sunday.

Blue Beetle, starring Xolo Maridueña, came in on the lower side of expectations and notched one of the lower debuts for a DC Comics movie. Though earlier planned as a streaming-only release, Warner Bros. elected to put Blue Beetle, the first DC movie to star a Latino superhero, into theaters in the late summer, a typically quiet

period at the box office.

The production price tag of about $105 million was lower for Blue Beetle than the average superhero film. It’s one of the last releases produced under an earlier regime at DC Studios, which James Gunn and Peter Safran took the reins of last year.

The film, directed by Ángel Manuel Soto and written by Gareth Dunnet-Alcocer, drew solid reviews–certainly better than the three previous DC releases this year ( The Flash, Black Adam and Shazam! Fury of the Gods ). Blue Beetle (76 percent fresh on Rotten Tomatoes) is the rare comic-book film to put a Hispanic cast front and center.

But it also faced some tough luck, and not just in the unexpected staying power of Barbie and Oppenheimer . Southern California

was bracing Sunday for Hurricane Hilary— potentially dampening ticket sales in the region. (Los Angeles was still its top market.) And like recent releases, Blue Beetle , which added $18 million internationally, didn’t have its cast available to promote the movie due to the ongoing actors strike. Universal’s raunchy R-rated canine comedy Strays showed even less bite. The film, with a voice cast including Will Ferrell and Jamie Foxx, landed in fifth place with $8.4 million. Comedies have generally struggled in theaters in recent years, but Strays had it particularly rough given that its starry cast was unavailable. Strays was very narrowly bested by Teenage Mutant Ninja Turtles: Mutant Mayhem . The Paramount Pictures animated release earned

The beautiful, natural and ageless Angel Aquino

those fun-filled days as priceless. “It was made so much more memorable and fun because Nanay joined us on that trip! She had lots of fun and she enjoyed the food and the pasyal, too!”

For many years, it was Nanay Perlita who has helped Aquino raise her daughters Iana and Thea. Now, both children have graduated from college and their relationship with their granny is still intact. “I am so lucky that my daughters are sweet and caring young ladies.”

character played by Kim Chiu.

$8.4 million in its third weekend, bringing its domestic total to $88.1 million.

Estimated ticket sales for Friday through Sunday at U.S. and Canadian theaters, according to Comscore.

1. Blue Beetle, $25.4 million.

2. Barbie, $21.5 million

3. Oppenheimer, $10.6 million

4. Teenage Mutant Ninja Turtles: Mutant Mayhem, $8.4 million

5. Strays, $8.3 million

6. Meg 2: The Trench, $6.7 million

7. Talk to Me, $3.2 million

8. Haunted Mansion, $3 million

9. Mission: Impossible—Dead Reckoning Part One $2.7 million

10. The Last Voyage of the Demeter, $2.5 million

ALMOST always low-key and devoid of any loud presence every time she enters a room, esteemed actress Angel Aquino admitted that she is enjoying a beautiful life at 50.

I am just happy that life has been really good to me, and turning 50 wasn’t really a big deal,” she told us. “Maybe it’s different for other women, but for me, to each her own, we choose and define our own happiness. As one grows older, I guess we realize that we only need the basic stuff in order to be truly happy—stability in both health and career, the unconditional love of family and a few special people, and opportunities to experience new things, explore new places and interests.”

A few months ago, Aquino visited Japan with the most special people in her life and described

Aquino is perhaps one of the busiest television actresses we have these days. Now that the family drama series Dirty Linen is about to end, Aquino has started working on her next series, Senior High , also from the Dreamscape team that has given Aquino wonderful roles over the years.

Just last week, Aquino was trending because the focus of Dirty Linen was on her character Feliz Fiero. As expected, she gave a consistent, sincere and sustained performance that stirred the emotions of the viewers, who were generous in heaping her praise and admiration on social media.

In between Dirty Linen and Senior High , Aquino also starred in another series, Fit Check: The Confessions of an Ukay Queen , where she played a mean and malicious fashion icon that made life very difficult for the protagonist

“I enjoy working with the young actors because they know how to have fun while working. And their rawness becomes their strength in giving life to their often vibrant and vulnerable characters,” she said. In Dirty Linen , Aquino worked with Francine Diaz and Seth Fedelin, while in Senior High , she is surrounded by the likes of Andrea Brillantes, Xyriel Manabat, Kyle Echarri, Tommy Alejandrino and Juan Karlos Labajo.

People often ask what is Aquino’s secret to her seemingly ageless beauty, and she almost always answers with just a smile. The people closest to her know that she loves to apply virgin coconut oil after she bathes, that she refrains from eating pork, beef and squid, and oily food in general; and that she loves to munch on whatever available fruits there are. Aquino is also very particular about her number of sleep hours and she loves fresh juices and tea.

But for those who love her deepest and dearly, they know that Aquino’s radiance illuminates from within, and qualities like kindness, compassion, humility, sincerity, and simplicity are innate in her. Angel Aquino, even after 50, will still remain ageless and adored by many because of the natural, beautiful woman that she has always been.

ANGEL AQUINO

CCP OUT-OF-THE-BOX SERIES PRESENTS TAGALIZED ABRIDGED OPERAS

BACK-TO-BACK abridged versions of Gioachino Rossini’s The Barber of Seville and Wolfgang Amadeus Mozart’s The Marriage of Figaro take the centerstage in the second installment of the CCP Out-OfThe-Box Series, the newest program of the Cultural Center of the Philippines featuring unconventional programming for adventurous artists and audiences.

After its successful premiere with Isang Gabi ng Sarsuwela , the CCP Out-Of-The-Box Series returns with Figaro! Figaro!! on August

25, 7:30pm, and August 26, 3pm, at the Tanghalang Ignacio B. Gimenez (CCP Black Box Theater). In olden times, the composers wanted their operas to be in the language of their audiences, so we decided to translate the two operas into Filipino. We want opera to be more accessible to Filipino audiences,” said CCP vice president and artistic director Dennis N. Marasigan, who did the translation for the production.

Directed by Jaime del Mundo, the back-toback opera production follows the adventures

of Figaro, the main character of the two operas, which is based on The Figaro Trilogy by French playwright Pierre Beaumarchais.

The trilogy–Le Barbier de Séville (The Barber of Seville), Le Mariage de Figaro (The Marriage of Figaro), and La Mère coupable (The Guilty Mother)–revolves around the adventures of a resourceful servant named Figaro, as well as the fascinating recurring characters.

The abridged stories come alive in CCP Out-ofThe-Box-Series: Figaro! Figaro!! with performances by Filipino talents Bianca Camille Aguila, Roxy

Aldiosa, Diego Aranda, Angeli Benipayo, Ruzzel Clemeno, Nerissa de Juan, Roby Malubay, Nomher Nival, Noel Rayos, Jonathan Tadioan, and Floyd Tena.

Farley Asuncion takes charge of the music direction, with Ohm David for set design, Raqs Regalado for costume, TJ Ramos for sound, and Marasigan for lighting.

Catch CCP Out-Of-The-Box Series: Figaro! Figaro!! this August 25 and August 26, 2023, at the Tanghalang Ignacio B. Gimenez. Tickets can be purchased for P1500 via TicketWorld.

Okada Foundation donates 3-storey Academic Building to State University

STUDENTS, teachers, and parents alike welcomed the newest addition to the facilities of Don Honorio Ventura State University (DHVSU) in Apalit, Pampanga, with the recent turnover of the new academic building donated by the Okada Foundation, Inc (OFI).

As a 1st class municipality, Apalit’s growing population also came with the challenge of allocating more space for new students and classrooms. This was the principal motivation that drove the OFI, in collaboration with the Office of Senator Lito Lapid, and with the full support from the Philippine Gaming Corporation (PAGCOR), to plan and build an educational facility.

The P50 million donation was used to construct a new building that stands three-storeys high, houses 12 full-sized

classrooms, and includes a spacious courtyard for students.

“It is said that the generational building block of any community are its well-educated children. The Okada Foundation is fully aligned with this belief, and our goal is to undertake community development projects that have a wide and lasting ripple effect,” noted OFI President James Lorenzana. This marks the first school facility built and donated by OFI in support of their educational advocacy.

“This project is a manifestation of the strong partnership between the public and private sector, and the hard work of the officials of Apalit and Pampanga,” Lorenzana added, sharing OFI’s commitment to equal responsibility in nation building, particularly in the

Education and Health sectors.

“With the joint effort of PAGCOR Chairman Al Tengco and the rest of the board, OFI hopes that the establishment of this school will help nurture the next generation and empower the youth to pursue their education,” Lorenzana shared. “By investing in our students, we are investing in our future. Moving forward. they will be at the forefront in shaping our nation,” he concluded.

Senator Lito Lapid, Pampanga Governor Dennis Pineda, Apalit Mayor Oscar Tetangco Jr., Vice Mayor Peter Nucom, Pampanga 4th District Rep. Anna York Bondoc, DHVSU Admin Council Pres. Enrique G. Baking, and PAGCOR Vice President Ramon Stephen R. Villaflor were also present at the building’s inauguration.

I-Corn Complex: A spectacular confluence of technology, sustainability, economic development

IN line with the city’s vision of becoming

“The Liveable City of Ilagan 2030: Adhikain ng Bawat Ilagueño,” Mayor Jose Marie “Jay” Diaz, together with Senator Mark Villar, led the groundbreaking

rites of a one-stop-commercial, modern corn center in Barangay Marana 1st.

Dubbed as the I-Corn Complex, the facility is the first for Cagayan Valley’s corn farmers that will serve as post-

harvest, processing and research facilities to ensure corn product quality and increased income for them. The structure is also expected to provide comprehensive aid to local corn growers in Ilagan, Isabela, and the surrounding provinces in Region 2.

For this project, the Department of Agriculture (DA) will provide P107 million while the city government of Ilagan will provide P92.2 million. Funded under the approved Geeral Appropriation Act (GAA) of 2023 of the DA RFO 02 through fund transfer to CLGU Ilagan, the city government donated the lot. The construction of the center started in the third quarter of 2022. It is expected to be operational starting February 2024. Villar pledged his complete support to the project “until the full benefits are realized.”

The innovative facility is expected to serve not just corn growers in the city but also the entire Isabela Province in the processing of their corn harvest. It will cater to the needs of the farmers, fisherfolk, and other stakeholders. Its goal is to be a one-stop-shop for all produce. The groundbreaking ceremony was aptly held during the city’s 11th Cityhood Anniversary and Mammangi Festival 2023 celebrations, living up to its vision towards a progressive, sustainable, and liveable city by 2030.

“IT was never easy, but it’s possible.”

For Dr. Angela Pineda, president of Dermclinic, beating the almost 50 years of commendable leadership of her father is one tough job and is not at all a walk in the park. But for someone who spent most of her childhood and adult life seeing how her father tirelessly lent his time and knowledge in growing the business, Dr. Angela is confident in knowing the fact that she is on the right track.

Armed with a degree in medicine and business management, the young doctor knew that it would not be enough for her to run a pioneering business if not for the proven example of her father, Dr. Vinson B Pineda, who was subsequently dubbed as the “Father of Philippine Dermatology” because of his long and fruitful contribution in the field of dermatology.

Together with her brother, Arnold Pineda who currently holds the position of General Manager, the siblings are facing all business challenges head on. And while they are their father’s children, they both know that they cannot continuously rest on their laurels.

“Times are changing and the demands of the customers have leveled up. We want to clearly communicate that while we are the same skin and hair care clinic that they have grown to love and trust, we also have to keep up with what is being sought for by the current generation,” Arnold said.

Not taking anything by chance, Dermclinic is evidently moving closer to their goal. From the choice of brand ambassadors, (GMA Sparkle’s budding artists Allen Ansay and Sofia Pablo), to the clinic’s pink colored interior, one can clearly see the “touch” and “feel” of the younger Pineda’s image proposition.

To be accessible to the younger generation is a challenge in itself. In the advent of digital technology, which was certainly unheard of during the early years of Dr. Vinson, people of today are beset with too much information. Anyone can market a product or service without the pre-requisite of a proven track record. With her sincere desire to augment the generation gap, Dr. Angela unapologetically made her every move count. The clinic’s

DR. Angela Pineda and Arnold Pineda social media platforms actively feature the latest treatments that Dermclinic can offer alongside valuable pieces of advice that are beneficial to the old and young alike. She likewise maximizes the use of various media programs where she either appears as guest or spokesperson where she generously shares tips on skin and hair health.

“My father had always been active in community building projects, and it seems like, that’s all that he wanted to do,” Dr. Angela jokingly said.

On a serious note, even Dr Vinson may have been surprised to know that his innate passion for lending a hand to the needy would eventually become Dermclinic’s competitive edge. These include his Dermatological Institute Foundation of the Philippines (DIFP), where doctors specializing in dermatology can acquire additional training and continuous education, the Christian Academy of Makati (CAM), a primary and secondary education provider that focuses on values formation, and not to forget his remarkable skill in pioneering hair health treatment and products .

“That is why we are confident,” Dr. Angela said. “We are backed by my father’s pro-active approach both in life and in business.” And for his parting words, Arnold declared “We are glad we are his children. For that alone, success for Dermclinic will never be far behind.”

Kadayawan Festival Kicks Off at Park Inn by Radisson Davao with Art Exhibit for a Cause, Exciting Promotions

SM Hotels and Conventions Corporation’s Park Inn by Radisson Davao sets the stage for the string of Kadayawan festivities with the launch of the “Portraits of Mindanao: Kadayawan Art Exhibit” at the hotel’s ground floor lobby last August 3, 2023. The opening and ribbon-cutting event welcomed distinguished guests from the local government, tourism sector, honorable consuls, corporate clients, as well as friends from the media. Attendees were treated to a vibrant and upbeat experience by the Siningtala Dance Company of St. John Paul II College of Davao who performed traditional Tausug and Manobo dances. Davao city Councilor Al Ryan Alejandre also delivered his message and expressed his gratitude to the hotel for the support of local artistry.

“Portraits of Mindanao” marks the second art exhibit hosted by Park Inn by Radisson Davao in celebration of the city’s Kadayawan Festival. The festival is one of the major festivals in Mindanao and is celebrated as a way of expressing thanksgiving for the abundance of nature, the rich culture, bountiful harvest and the peaceful and serene way of living.

In collaboration with Grupo ng mga Aktibong Mindanawon Artists (GAMA) represented by Dinky Munda and led by Rolando Pino-on, the exhibit showcases the inspiring vision and remarkable talent of Mindanao’s local artists. The curated artworks present facets of daily life in Mindanao - from its peace-loving inhabitants, exotic fruits, exceptional cuisine, to the rich and diverse culture, providing festival visitors and locals alike with an intimate look into the unified

lifestyle of the island’s people.

“This exhibit is not just about showcasing the talents of our local artists; it’s also about supporting and nurturing their creativity. Through our efforts, we hope to give these artists a platform to share their work with the world, and we firmly believe that with continuous support, we will witness more artists hailing from Mindanao in the future who are successfully making a name in the national and eventually, international stage.” as emphasized by Park Inn by Radisson Davao’s General Manager, Sven Toune.

Proceeds (15 percent) from each sold artwork will be contributed to the students of the hotel’s supported school, Malamba Elementary School – G. Astilla Sr. Cultural Minority High School in Marilog District to fund the art and school materials of these students.

The “Portraits of Mindanao” exhibit is open until August 31st. In addition to the art exhibit, Park Inn by Radisson Davao is offering Kadayawan room and F&D promotions, including the return of the Kadayawan Boodle Fight at VANDA, their all-day restaurant. At P3,950 per set – the Kadayawan Boodle Fight treats guests to a sumptuous and savory feast.

Guests can indulge in the vibrant ambience of the hotel’s rooms this August for P5,000 per night, inclusive of a breakfast buffet for two, a 10 percent discount at VANDA

Join

For inquiries and reservations, please email reservations.davao@parkinn.com or call at 082 272 7600.

The Pineda Siblings take pride in their strongest, most effective business tool: Their father’s legacy

JOINING Mayor Jose Marie Diaz and Sen. Mark Villar at the groundbreaking ceremony were OIC Regional Executive Director Dr. Rose Mary  Aquino, the Sangguniang Panlungsod officers, Liga ng Barangay President Gaylord M. Malunay, OIC Regional Technical Director for Operations and Extension Dr. Roberto Busania, and DA National Corn Program Senior Officer Rodolfo Panganiban.

REPRESENTATIVES of DHVSU Apalit Campus express their thanks for the newly-donated school building by the Okada Foundation, Inc., through the collaboration of Apalit LGU, the office of Senator Lito Lapid, and PAGCOR.

restaurant, and Kadayawan mocktails for two.

in the joyous and wondrous experience of the Kadayawan Festival at Park Inn by Radisson Davao!

IN the photo are, from left, President of Philippines Halal Trade & Tourism (PHTTE) Marilou Ampuan; Davao City Councilor Al Ryan Alejandre; Immediate Past President of Davao Tourism Association and COO of Al-ag Group Cherry Al-ag; Honorary Consul to Bangladesh Hon. Joji Ilagan-Bian; Park Inn by Radisson Davao General Manager Sven Toune; Reyna Dabawenya 2023 Sheila Magpale III; Mutya ng Dabaw 2023 Ria Pelayo; Park Inn by Radisson Davao Director of Sales and Marketing Liza Gamo; GAMA’s (Grupo ng mga Aktibong Mindanawon Artists) Representative Dinky Munda and SPMC (South Philippines Medical Center) House of Hope Head Dr. Mae Dolendo.

British Muslims say UK banks ruin many lives with debanking policies

By Aisha S. Gani

For six weeks after his card was first declined—trying to buy takeaway chicken before a night shift—he’d visit the bank close to his home in Luton, Bedfordshire, in search of answers. The 45-year-old’s salary from the Royal Mail was being deposited, but his direct debits bounced, leaving him unable to pay bills.

The Halifax branch manager eventually called and said Ahmed could use his account again if he provided ID. Two months after he regained access, both Ahmed and his wife Iram Khan received letters stating that the bank couldn’t maintain a relationship with them. Savings accounts for his young children were also closed.

He was baffled, initially thinking the letters were a scam. He recalls going into the branch on the day his card froze to let them know he would be going on a family holiday to Morocco—a detail that has played on his mind as he’s never received a better explanation of what happened.

“You know what they say, there’s no smoke without fire,” he said in an interview. “But when it happens to you, you’re thinking, but I didn’t do anything.” Ahmed is a familiar figure in his community, having volunteered for a homeless charity. After three decades banking with Halifax, Ahmed now advises his friends to open multiple accounts like him and not “put all their eggs in one basket.”

A spokesperson for Lloyds Banking Group Plc, which owns Halifax, said they couldn’t comment on individual cases unless they were given the customer’s personal details. “We meet all regulatory and legal requirements and do not close an account, or prevent one being opened, based on a customer’s political or personal beliefs,” they said.

Shut down

SINCE Brexit campaigner Nigel

Farage declared that he’d lost his bank account with NatWest Group Plc’s upmarket Coutts subsidiary in June, the concept of debanking has catapulted into the spotlight. Bank chiefs have insisted they don’t take personal or political beliefs into account when removing access to financial services. NatWest CEO Alison Rose quit after Farage uncovered documents showing that, in his case, the opposite was true.

For Muslim communities in Britain, accessing financial services can prove especially difficult. From delays with applying and problems passing screening checks, to

sudden debanking without an explanation, Bloomberg News has spoken to numerous customers who have struggled with the system.

In early August, the Muslim Council of Britain called for an impartial review of whether banks were closing accounts disproportionately. Figures from the Financial Conduct Authority last year showed about one in 50 UK adults are unbanked—a proportion that rises to one in 10 for Muslims.

The government has promised to examine the issue of debanking, both generally and for politicians in particular, who are deemed more of a moneylaundering and corruption risk by the banks. Lenders will soon be obliged to give accountholders 90 days’ notice and a reason for cutting them off.

To be sure, banks have good reason to be wary of money laundering, which has been regulated globally since the 1990s and subject to even stricter rules after 9/11 to curb criminal money flows. The consequences for not being tough enough can be huge: After a record $1.9 billion fine for facilitating drug cartels in 2012, HSBC Holdings Plc has pulled back from multiple countries and business lines, partly to avoid reputational risk.

UK lenders have become increasingly keen to close accounts, with almost 350,000 shuttered last year, compared to about 45,000 in 2017, according to FCA data obtained by the Mail on Sunday. Over 1,300 people complained about their account closure to the financial ombudsman last year.

Many of those affected get no explanation.

This was the case for one NatWest customer who received a letter two months ago, which was seen by Bloomberg, informing them their account would be closed after 14 years.

When the person, who asked not to be named discussing their finances, complained about discrimination, the bank wrote it was not willing to reconsider the decision or “divulge the precise reason.”

The person said they were told by their banker these decisions are rarely reversed and believed there was little point in complaining to the Financial Ombudsman Service. The account was closed in late July.

NatWest, like other banks, declined to comment on individual cases. “Like all UK regulated banking institutions, we are subject to legal and regulatory requirements,

and we treat compliance with them as a matter of priority,” a spokesperson said. “This may mean we are required to delay, or refuse to act on a customer’s instructions, and/or restrict, or close a customer’s account.”

UK Finance, the trade body, said “the decision to close an account is only taken after extensive review. If a firm concludes that it cannot continue to offer services, it must communicate this to the customer so far as permissible and in every case treat the customer fairly.”

Loss of opportunity

WASIF MAHMOOD, a financial services lawyer, deals with numerous debanking cases affecting marginalized communities in Britain, including small business owners and overseas students. Debanking has far-reaching implications for these groups, leading to a vicious cycle of lost opportunities, he said.

Among Mahmood’s clients are people with cash-and-carry shops from immigrant, Muslim backgrounds, who banks see as vulnerable to money laundering, he said. Lenders were filing Suspicious Activity Reports like a “sledgehammer to crack a nut” as grounds to shut down accounts, he added.

Access to the SAR database is strictly limited to particular law enforcement and government agency staff, and those with a filing against them often aren’t told, in order to avoid the risk of tipping off criminals. Suspicion of money laundering has become a catch-all, said Mahmood, adding that he’s seen the system disproportionately hitting individuals from lower socioeconomic backgrounds.

In modern Britain, “you are a non-person if you don’t have a bank account,” the lawyer said.

‘Risky’ accounts RESTRICTED banking access for Muslims is not a new issue.

In 2014, HSBC faced criticism by rights groups for closing the accounts of Syrian refugees, Finsbury Park Mosque, and the Ummah Welfare Trust, among others. Data provider WorldCheck apologized and paid £10,000 ($12,753) in damages after wrongly linking the mosque and other individuals to terror activities. The mosque, which was led by radical preacher Abu Hamza until an anti-terrorism raid in 2003, was reopened by new managers who denounced Hamza and worked to rebuild community relations.  Islamic Relief, a major aid agency, had its accounts shut by HSBC around that time, two years after its UBS account was closed. “Some banks are reluctant to deal with humanitarian charities working in the world’s most fragile and complex states because it’s simpler to just say no,” said Alun McDonald, head of media and external relations. He said banks needed to invest in due diligence and update risk management to factor in the UN exemption on humanitarian assistance from sanctioned regimes.

Anas Altikriti, founder of the Cordoba Foundation think-tank, also received a letter from HSBC saying his current and business accounts, as well as those of his then-wife and teenage sons, would be closed during that period. He opened an account with Lloyds Banking Group Plc, only to find it unusable due to constant phone calls about

financial sanctions.

“It is very much a broken system,” she said.

Ibrahim Khan, co-founder of wealth management app Cur8 Capital, said he’s never managed to get an account with Monzo or Revolut and has never received an explanation. He believes it’s due to potential sanction matches with his name, so ran the name he uses for banking through Experian and ComplyAdvantage screens. “You can imagine with a name like Muhammed Khan, you’ll get a fair few hits.”

He argued that it highlighted the systemic “racism and bias creep” in screening processes, with algorithms trained on watch lists heavily populated with Muslim, Black, or ethnic minority names. Identity checks that rely on photos also struggle with Black or Brown faces, potentially leading to longer onboarding times and adding a further barrier to access.

payments in and out of his account, and it later shut him out too.

Over the years, accounts with Banco Santander SA, Halifax, NatWest, and RBS were also closed, he said. In August, he learned his Barclays Plc account had been shut. None of the banks would comment on individual cases.

After investigative journalist Peter Oborne looked into his case, Altikriti discovered he was on a heightened risk list compiled by World-Check Risk Intelligence. He believes it’s because of his views about the UAE, Saudi Arabia, and Palestinian rights. His father is also a politician in Iraq. As a result, he always has two or three accounts at hand, anticipating closures. Currently, he’s waiting for Wise Plc to verify his details for an account he applied for in May.

“These are lives we’re talking about,” Altikriti said in an interview. “I don’t know whether my marriage broke down because of this. I don’t know whether my relationship with clients broke down because of this. I don’t know if my reputation has been sullied as a result of this.”

Name check ISSUES also crop up at the beginning of the customer journey. The nine biggest lenders are required to offer free basic accounts under the 2015 Payment Accounts Regulations, allowing all legal residents to receive money and pay bills. Around 7.4 million of these accounts exist, yet there are some examples of difficulties.

Nina Mohanty founded Bloom Money, a savings app designed for diaspora communities, in part to address the obstacles faced by such customers in the rest of the financial services industry. Mohanty said there are cases where Palestinian refugees are turned away because banks don’t accept their travel documents, while those with Sudanese passports are rejected because the country is under UK

Khan said financial institutions look at roughly the same live sanction screens. Setting the “fuzziness” wide on searches—like including every possible spelling of “Muhammed”—can trigger false positives. Banks can generally change the settings on their checks to suit their risk appetites.

Bloomberg News obtained permission from Khan to ask Monzo about his application. “There are multiple factors that influence decisions on whether to offer someone an account,” a spokesperson for Monzo said.

“This decision made in 2021 was not determined by any sanctions or PEP screening and had nothing to do with this person’s name.” They declined to give further information on the reason Khan was rejected.

“We have a sophisticated range of ways to screen customers but we can confirm that a customer’s onboarding or offboarding has absolutely nothing to do with their name, race, ethnicity or religion,” R evolut said in a statement.

For Husayn Kassai, the co-founder and former chief executive officer of global identity-checking company Onfido, a key source of frustration has been blacklisting and reduced access to finance. “I don’t think the banks are doing enough to think through their internal biases in the system,” he said.

Lenders are legally required to shut out certain customers to meet money laundering and terrorism legislation, and serve those who meet the qualifications for “basic” accounts. Beyond that, banks set their own risk tolerance, often in private. Kassai points out the grey areas here, with banks’ strict approach to money laundering compliance in retail accounts in sharp contrast to London’s reputation as a haven for money laundering among the world’s richest.

Institutions are willing to take on greater risks as long as the accounts are “financially lucrative enough,” he said. “Banks have a fundamental duty to the community and must ensure fair and appropriate access to everyone.” Bloomberg News

Since Brexit campaigner Nigel Farage declared that he’d lost his bank account with NatWest Group Plc’s upmarket Coutts subsidiary in June, the concept of debanking has catapulted into the spotlight.

WHEN former postman

Iqeel Ahmed told staff at his local Halifax branch he couldn’t feed his family because he was locked out of his account, they asked whether he had tried the nearest food bank.

IQEEL AHMED at a local café in Luton, UK on August 14. JOSE SARMENTO MATOS/BLOOMBERG

Clarkson expectedly Gilas go-to guy in World Cup–coach Jong

JORDAN CLARKSON will always be Gilas Pilipinas’s main option in offense but the National Basketball Association (NBA) star’s role also primarily leans on setting up his teammates to score.

It’s virtually an all-around role for the NBA’s Sixth Man of the Year two seasons ago, according to Gilas’s deputy coach Jong Uichico.

“Jordan’s not an ultimate offensive equalizer but he’s going to be a big help in the offensive end,” Uichico told BusinessMirror on Monday, the morning after the men’s national team lost its penultimate tune-up

assists, two rebounds and one steal in their 102-87 loss to Montenegro on Sunday night and before that, he finished with 13 points, six rebounds and one assists in 24 minutes in beating Ivory Coast, 85-62, last Friday both at the PhilSports Arena.

“But he would be the team’s main option if he’s needed to score,” added Uichico of Clarkson, who averaged 20.8 points, 4.0 rebounds and 4.4 assists for the Utah Jazz last season.

At the end of the day, Jordan knows he’s the main option to score,” said Uichico, noting Clarkson’s professionalism and deep bond with his teammates.

“ He’s very easy to deal with, coachable and he’s okay with his teammates,” Uichico said. “He is involving his teammates and he’s known for that even in the NBA.”

Gilas played Mexico on Monday night also in the Pasig City facility for its third and last tune-up game before its 8 p.m. game against the Dominican Republic on Friday at the Philippine Arena in Bocaue, Bulacan.

The Philippines faces Angola on Sunday and wraps up its Group A assignment against Italy on Tuesdat also at 8 p.m. all at the Smart Araneta Coliseum. Josef Ramos

Sarines slips past Zaragosa to rule Junior PGT 11-12 class at Sta. Elena

MONA SARINES outdueled

Precious Zaragosa in a gripping duel of skills and nerves to claim the top honors in the girls’ 11-12 category of the Junior Philippine Golf Tour (JPGT) 2023 Series at the Sta. Elena Golf and Country Club in Laguna Sunday.

Playing in such kind of skills contest for the first time, Sarines was up to the task by pooling 115 points—including 55, 32 and 28 points in putting, chipping and driving, respectively—to edge Zaragosa, who assembled 113 points on a top finish in driving (46) and runner-up and third place efforts in putting (46) and chipping (21).

Tiffany Bernardino scored 91 points, including a top-scoring 36 points in chipping, to place third in Round 4 of the series organized by Pilipinas Golf Tournaments Inc.

“It was our first experience being in a drive, chip and putt competition, speaking for myself and my three junior golfer kids [Mona, Lisa and Vito),”

Arminda Sarines said. “Being used to the usual 18-hole tournament [and the US College Golf 36-hole rounds], this DCP [driving, chipping and putting] provides a different twist—it is not only fun but also exciting, or as the kids would describe as ‘exhilarating.’”

The energy was so welcoming, everyone was focused on the specific golf task. And the rewarding outcome after the game was all the kids were happily playing with each other, running around and being kids again,” she added.

Roman Ungco emerged No. 1 in driving. (43 points), wound up second in chipping (40) and placed third in putting (36) as he took the boys’ 11-12 trophy with 119 points in a big followup to his victory in the 18-hole stroke play format at Valley Golf last month.

Aenzo Sulaik ruled the chipping challenge (50 points) and came in second in putting (37) to finish behind Ungco with 104 points while Javier Bautista put in an 83-point output for third after sharing the top spot with

SPANISH CONQUEST!

SYDNEY—A champion’s medal around her neck, Salma Paralluelo lay on the field for a while and nestled into the golden glitter that had fallen over Spain’s Women’s World Cup team as it celebrated a 1-0 victory over England.

Already a world champion in the Under-17 and Under-20 levels, Paralluelo took her time soaking up the atmosphere at Stadium Australia on Sunday after helping the Spanish women’s team overcome adversity to win its first senior major global title.

with not winning,” England captain Millie Bright said. “I think in a couple of weeks and it settles, [we] will be really, really proud.”

I n an open game featuring multiple chances for both teams, Carmona’s left-foot strike in the 29th minute—finishing off a fast-breaking counterattack after England’s Lucy Bronze lost possession—was the only goal.

the tournament. After a 4-0 loss to Japan in the group stage, Spain replaced Misa Rodriguez with Cata Coll in goal. La Roja rebounded quickly by trouncing Switzerland, 5-1, to kick off the knockout round and built from there.

Lujo Gomez in putting (40 points) and winding up third in driving (32).

S haring the spotlight in the one-day tournament sponsored by the International Container Terminal Services Inc. as part of its commitment to enhance junior golf are girls’ and boys’ 9-10 age group winners Makayla Verano and Vito Sarines, respectively, and Maria Angelica Bañez, who ran away with the girls’ 15-18 diadem with 116 points against Korean Ji Won Lee’s 81-point output.

Verano finished on top in putting (51 points), placed second in driving (28) and shared third place with Quincy Pilac in chipping (21) as she scored 100 points, five points clear of Pilac, who tied for first with Maurysse Abalos in driving (34) and posted a runner-up finish in putting (40) for 95 points.

A balos, who also emerged solo winner in chipping (27), placed third with 81 points.

V ito Sarines, on the other hand, ruled the driving challenge (56 points) and shared second place with Jose Luis Espinosa in chipping (45) as he racked up 126 points for a 23-point romp over Espinosa, who dominated the putting contest (35) and ended up with 103 points.

OLGA CARMONA scores the only goal Spain needed to win but her triumph is tinged with sadness after learning of her father’s death. AP

32-member PHL swimming team off to Jakarta

A 32-MEMBER Philippine delegation leaves for Jakarta on Tuesday for the 45th

Southeast Asian Age Group Aquatics Championship scheduled from Thursday to Saturday.

The delegation is composed of 19 swimmers, four divers, six coaches and three officials.

National 13-under record holder Jamesray Ajido and last year’s world junior Championships campaigner Amina Isabelle Bungubung lead the team culled from a series of national tryouts conducted by the Philippine Aquatics led by president Miko Vargas and secretary-general Eric Buhain.

We’re sending a lean team but with a high chance of winning

medals for our country,” Buhain, now Batangas First District representative, said. “This is the first SEA Age Group team under the new administration of Philippine Aquatics.”

Joining Ajido and Bungubung as Quezon City-based swimmers are Mishka Sy, Jalid Taguinod, Makati City’s Ivo Nikolai Enot, Paranaque City’s Joshua Park, Caloocan City’s Aishel Evangelista, Manila’s Estifano Ramos and Lance Rafael Cruz, Antipolo City’s Patricia Mae Santor and Shairinne Floriano and Quezon Province’s Peter Cyrus Dean.

A lso on the team are Jie Angela Mikaela Talosig of Midsayap (North Cotabato), Catherine Cruz of Mabalacat

(Pampanga), Arabella Taguinota of Pasig City, Bea Mabalay and Jennuel Boo De Leon of Aklan and US-based Filipino-foreigners Clark Kent Apuada and Ava Samantha Bautista.

R amil Ilustre is the head coach with Cyrus Alcantara, Manuel De Leon, Mark Pido and Wilfredo Cruz as his assistants. Marie Dimanche is coaching the young divers while Chito Rivera is the head of delegation and Anthony Reyes is his deputy.

Lean but a quality team. It’s smaller team compared to last year’s, but they’re all competitive because they all met the qualifying time standards set during the national tryouts,” said Rivera, also executive director of Philippine Aquatics.

Olga Carmona scored in the first half of the final and Spain held on to cap the month-long tournament.

Carmona’s triumph was tinged with sadness after learning of her father’s death. The Spanish soccer federation issued a statement after the match to confirm Carmona’s father had died, without giving specific details.

Overcoming the turmoil that had surrounded the team, the victory made Spain the first team to hold the under-17, under-20 and senior women’s world titles at the same time. Spain also joined Germany as the only nations to win both the men’s and women’s titles.

At the final whistle the Spanish players piled on each other in front of their goal. They were still dancing on the field before and after the trophy presentations.

“ We’ve suffered a lot throughout the past 12 months but I think everything has a reason to be. This has made us a stronger team,” Carmona said soon after the game. “And it’s really incredible. I don’t know just why Spain is the world champions, but I think that we deserved it.”

The Lionesses were trying to bring a World Cup back to England for the first time since the men won it in 1966. The wait will go on.

At first you feel like you failed

Carmona also scored the gamewinner in the 89th minute of Spain’s 2-1 semifinal victory over Sweden, becoming the first player since Carli Lloyd in 2015 to score in a World Cup semifinal and final.

Spain had a chance to double the lead in the 68th after a VAR review awarded a penalty for Keira Walsh’s handball, but Jenni Hermoso’s penalty attempt was saved by Mary Earps.

Spain’s victory comes despite a near-mutiny by players last year. Fifteen players said they were stepping away from the national team for their mental health while also calling for a more professional environment.

Th ree of those players—Ona Batlle, Aitana Bonmatí and Mariona Caldentey—reconciled with the federation and were at the World Cup.

The victory was also a bit of redemption for La Roja, which lost 2-1 in the quarterfinals to eventual champion England at the European championship last year.

“ I think all of us, we felt that this team had something special,” Carmona said. “I believe that we’ve shown this on the field, we’ve shown this in the group stage, in the knockout stage. We’ve been fighting until the end. We never stopped.

Last year was different, but football gives you second chances. What better chance than in a World Cup final and to be able to call ourselves world champion.”

Spain grew over the course of

Lim ends long spell with victory over Verdad at Olivarez Open

then broke Verdad twice to essay the straight-set romp worth P50,000 and Unified Tennis Philippines and Universal Tennis Ranking points.

More importantly, the victory served as a big morale-boost for the former multi-titled junior campaigner, whose last big win was in Malaysia three years ago where he claimed both the singles and doubles titles.

When we found out that we had England in the final, we analyzed them and saw how they played,” Bonmati said. “We prepared it well, we came out confident of what we were doing, of our game, of our fight, of our dedication.” AP

HD sets training camp in Bahrain for Riyadh worlds

By Josef Ramos

OLYMPIC and world champion

Hidilyn Diaz-Naranjo set up training camp from Jala-Jala to Manama to prepare for next month’s world weightlifting championships in Riyadh.

It’s for obvious reasons Team HD flew to Bahrain’s capital kast Saturday—to get accustomed to the hot and humid Middle East climate and adopt to the region’s food. It’s also for comfort with Riyadh a mere four-hour and 45-minute drive from Manama and more importantly, to avoid distractions.

We can focus more in our training here than in the Philippines,” Diaz-Naranjo’s husband and coach, Julius, told BusinessMirror on Monday. “It’s really hot here but that’s no problem.”

They set up camp in a hotel gym in downtown Manama, tagging along promising weightlifter Rosegie Ramos who will also see action in Riyadh in the 49-kg contest.

Temperature in Manama reached 38 Centrigrade on Monday and it’s hotter in Riyadh at 42 Celsius. The weather there, however, is expected to drop some 10 degrees come the world championships.

ALBERTO LIM JR. rounded up a brilliant week-long display of aggressive tennis as he smothered Fritz Verdad, 6-2, 6-1, in the final to secure the Mayor Eric Olivarez Cup National Open Tennis crown in Sucat, Parañaque City, Sunday.

A s what he had done all week, Lim went on attack mode early and took the first three points in the first game off Verdad’s serve, only to yield the next four.

W hat ensued was a virtual duel of nerves with Lim pulling through after five deuces, including a sweep of the last three points.

But after a hold-hold-hold game, Lim, 24, broke again in the fifth and held sway the rest of the way. They traded breaks in the first three games in the second frame before Lim held in the fourth to wrest a 3-1 lead

“ Winning this tournament gave me the confidence and belief that I can play toe-to-toe against our top-caliber players,” said Lim, who went on a hiatus due to illness before returning to competitive play in the Brookside Open last April.

“ The key was to be aggressive right away and to not give my opponent a chance to get his rhythm and momentum,” said the former University of the East spearhead. “I obviously give the credit to Fritz, who was able to stay there and make me work for every single point.”

The unranked Lim, who dropped just 12 games in six matches, including a 6-1, 6-0 win over third seed Vicente Anasta in the semis, said he didn’t expect to go all the way to the championship in the event sponsored by the Olivarez family, stressing: “I was not expecting anything at all going into this competition. But I know I was ready to compete whoever it is that

going up against.”

R iyadh will be the 32-year-old Diaz-Naranjo’s third Olympicqualifying tournament after last year’s worlds in Bogota where she won gold medals at 55 kgs—the weight class she topped in Tokyo but was scrapped for Paris—and last May’s Asian championships in Jinju in South Korea where she debuted at 59 kgs and wound up fourth.

S he needs to vie in five to six qualifying tournament to make it to Paris for her fifth consecutive Olympic stint.

“ She’s mentally focused,” said Naranjo, who expects sports nutritionist Jeneath Aro and psychologist Karen Katrina Trinidad to join them in Riyadh.

The worlds start on September 4 but Diaz-Naranjo will compete only on September 8 and will have adequate recovery time for her event at the Hangzhou Asian Games on October 2.

Team HD, which maintains a well-equipped weightlifting center in Jala-Jala in Rizal, will skip Manila and fly direct to Hangzhou after the world championships.

SIBLINGS Vito and Mona Sarines, (second and third from left) hold their medals as they pose with fellow age group winners (from left) Makayla Verano, Roman Ungco and Maria Angelica Bañez.

I’m

ALBERTO LIM JR. holds his trophy as he poses with Fritz Verdad.

SPAIN’S Oihane Hernandez (left) and Claudia Zornoza celebrate after the awarding ceremony at Stadium Australia in Sydney Sunday. AP

JORDAN CLARKSON’S the main option in offense.

HIDILYN