BusinessMirror December 05, 2023 by BusinessMirror

With ₧6.2-B deficit, MRT 3 justifies fare hike By Lorenz S. Marasigan @lorenzmarasigan

HE Metro Rail Transit (MRT) Line 3 is grappling with significant operational and financial challenges due to escalating operations and maintenance expenses, coupled with considerable foregone revenues, leading to a significant financial shortfall. Department of Transportation Assistant Secretar y for Railways Jorjette B. Aquino reported this in Monday’s press conference, where she justified the need for fare adjustments for the MRT 3.

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Currently, she said, the MRT 3 has P6.2 billion in deficit, owing to the increased spending on operations and maintenance, as well as the deferred implementation of fare increases. Aquino explained that the maintenance and operating expenses of MRT 3 have been averaging P9 billion to P10 billion every year since 2020. “This year, from January to October alone, our maintenance and operating expenses are approximately P8 billion,” she said at the press conference. “Last year, the revenue of MRT 3 reached P1.2 billion. Currently, in 2023, because the ridership increased from January to October, we have reached P1.9 billion.”

Despite the increase in ridership and revenue, “we still have a P6.2 billion shortfall or deficit,” she added. This, she said, should prompt the increase in fares. Aquino explained that the “proper fare” for an end-to-end MRT 3 ride—from Taft Ave. Station to North Ave. Station—should be P69. Currently, passengers only pay P28 for the said route. “So there’s a shortfall of P41 per passenger, from end to end,” she said. In January, the MRT sought to adjust its fares by adding P2.29 as boarding fare and a 21-centavo increase for each kilometer traveled. Should the petition for fare increase

be approved, the MRT 3 is expected to increase its income by “P55 million.” “As everyone can see, the MRT 3 system is now much better, far more efficient, with more trains running and serving more passengers. The P41 government subsidy for each passenger from end to end is expected to decrease. We believe this fare increase is also in the interest of the future of the rail system,” Aquino said. Increasing the fares on the MRT 3 will also allow the government to reconfigure the train’s operations with the potential to convert the current three-car configuration to four cars.

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Tuesday, December 5, 2023 Vol. 19 No. 55

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EARNINGS SEEN IN 2024 By Andrea E. San Juan @andreasanjuan

XPORT earnings could still experience singledigit growth next year despite not being able to hit the target set in the Philippine Export Development Plan (PEDP) 20232028 for this year, a setback attributed to a “changing geopolitical situation,” according to the Philippine Exporters Confederation Inc. (Philexport). Philexport President Sergio R. Ortiz-Luis Jr. said that, while the sector did not meet the $126.8-billion exports target for 2023—the projection set in the PEDP—it is still possible for Philippine exports to grow by single-digit in 2024. “Possible. [It’s really] most probably single-digit growth. Because if we had hit double-digit, we can meet the $126 billion,” Ortiz-Luis told reporters on the sidelines of the opening of the ceremony of the National Exporters’ Week on Monday in Pasay City. Instead of aiming for the initial target set in the country’s export development plan, the Philexport chief said, “We are just gunning for $100 billion [for this year], that’s a big thing already,” adding that it might take the country’s exports two years to hit the $126.8 billion. See “Single-digit,” A2

SUSTAINABILITY ART Embark on an avant-garde art journey as The Art House and Search Mindscape Foundation introduce Elemento, a revolutionary art experience at The Ayala Triangle in Makati City. Running from November 17 to December 23, Elemento offers a vibrant, cross-disciplinary exhibition, encouraging attendees to delve into the catalytic power of art in sparking change, fostering community ties, and amplifying dialogues on sustainability. The artworks predominantly utilize recyclable materials. NONIE REYES

HONG KONG PINOY DOMESTICS TO ENJOY HDK140 WAGE HIKE By Samuel P. Medenilla @sam_medenilla

ILIPINOS and other foreign domestic helpers (FDH) in Hong Kong now have a higher minimum wage rate and allowable food allowances, according to the Department of Migrant Workers (DMW). In a one-page Advisory No. 27 dated November 11, 2023, DMW Office-in-charge Hans J. Cacdac announced the Hong Kong Labor Department has

implemented a HDK140 minimum allowable wage (MAW) increase for FDH. It will raise the previous MAW for FDHs from HDK4,730 (P36,917.65) to HK D4,870 (P38,010.35). Also adjusted, Cacdac said, is the food allowance for FDH, which was raised by the Hong Kong government to HDK 1,236 (P9,649.98) from HDK 1,196 (P9,334.78). “These changes are applicable for FDH whose contracts See “Hong Kong,” A2

PHL sees trade deal talks with UAE done in 2 years By Andrea E. San Juan @andreasanjuan

ANILA is looking to conclude negotiations for the bilateral trade agreement with the United Arab Emirates (UAE) within two years from the start of the talks in the first quarter of 2024. After the signing of the Terms of Reference (TOR) for the negotiations of a Comprehensive Economic Partnership Agreement (Cepa) with UAE, Department of Trade and Industry (DTI) Undersecretary Allan B. Gepty said, “First thing next year, definitely

we’d conduct series of consultations again and also work on the domestic processes.” The consultation, he added, would not be limited to agencies but will also include stakeholders. “We’re eyeing [about] first quarter of next year. We can already commence the negotiations and then move forward; if the issues are not contentious, then we can expect smooth negotiations. And hopefully, at least conclude the negotiation [if not] next year, at least within two years,” Gepty said at a media briefing on Monday held in Pasay City. See “PHL,” A2

TOURISM JOBS Bobby Horrigan, Vice President of the Hotel and Restaurant Association of the Philippines and General Manager of Acacia Hotel, shares insights on employment in the tourism industry during the 18th General Assembly and Annual Fellowship of Accommodation Establishments Security and Safety Coordinating Council Inc. held on Monday, December 4, 2023, at the Philippine Navy Golf Clubhouse in Fort Bonifacio. NONIE REYES

PESO EXCHANGE RATES n US 55.4800 n JAPAN 0.3779 n UK 70.4596 n HK 7.0997 n CHINA 7.7840 n SINGAPORE 41.6173 n AUSTRALIA 36.9497 n EU 60.3622 n KOREA 0.0429 n SAUDI ARABIA 14.7907 Source: BSP (December 4, 2023)

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BusinessMirror

A2 Tuesday, December 5, 2023

SC to Sara, Palace, DBM: Explain ₧125-M ‘confi’ fund

By Joel R. San Juan

ver ified declaration that the electronic copy is a complete and true copy of the printed document and annexes filed with the court, as required in the Revised Guidelines on Submission of Electronic Copies of SC-bound Papers Pursuant to the Efficient Use of Paper Rule. The petitioners include constitutionalist and former Commission on Elections chairman Christian Monsod, former Vice President

Leni Robredo’s spokesperson Ibarra “Barry” Gutierrez III, former finance undersecretary Maria Cielo Magno, Imelda Nicolas, Katrina Monsod, Ray Paolo Santiago, Honorio Poblador III, former Comelec Commissioner Augusto Lagman, Vicente Romano III, Rex Drilon II and Miguel Jugo. The petition stemmed from the OVP’s request from the DBM for P403.46 million for various purposes, with P250 million of these funds intended as confidential funds. The petitioners noted that no confidential funds for the OVP were included in the 2021 and 2022 national budgets. S u b s e q u e n t l y, t h e D B M re lea sed P221.42 m i l l ion to the OVP through a SARO to “cover Financial Assistance/Subsidy and Confidential Fund per Office of the President approval dated November 28, 2022.” This amount included P125 million allocated for confidential funds and more than P 96.24 million for financial assistance/subsidy. T he Commission on Aud it (COA) then released its 2022

audit report of the OVP, confirming that the office fully utilized the P125 million Confidential Fund that was transferred in December 2022. Petitioners argued that the transfer of funds from the OP to the OVP is an exercise of legislative power, thus, a violation of Article VI, Section 1 of the 1986 Constitution which provides that legislative power belongs to the Senate and House of Representatives. The petitioners also accused the respondents of consenting to the circumvention of auditing rules and accountability when they allowed the use of Contingent Fund of the OP for the confidential fund of the OVP through the special allotment release order (SARO). They stressed that the public respondents unlawfully exercised broad discretion to determine where the funds will go. “By exercising such broad discretion, public respondents contravened the Constitution and exercised the power to appropriate which is lodged in Congress,” the petitioners said.

The Terms of Reference will ge ner a l ly prov ide t he g u iding principles, objectives, scope and coverage, institutional ar-

rangements, templates for data and information exchange, and other procedural aspects of the negotiations.

The DTI, in consultation with “concerned” agencies, finalized the ToR last November 30 together with its UAE counterpart. The Trade department said the ToR was signed on December 2, 2023 by Trade and Industry Secretary Alfredo E. Pascual with his UAE counterpart, Minister Thani bin Ahmed Al Zeyoudi. According to DTI, the Cepa with the UAE is a “comprehensive economic agreement that will provide, among others, greater market access for goods and services, enhance investment flows, and ensure opportunities for economic and technical cooperation.” T he ToR—a copy of which was sent to reporters through viber—noted that a Cepa with the UAE will be the Philippines’s first trade agreement within the Middle East and with a Gulf Cooperation Council (GCC) member state. Under the Cepa, the Philippines has a “strong” interest in generating more investments from UAE and creating more opportunites for professionals and service providers. Gepty, the Philippines’s chief trade negotiator, underscored the economic benefits of entering into a trade agreement with the UAE, including an expected increase in trade volume. For one, he said, “What’s interesting in the case of UAE because we’re looking at exporting to them high-value products such as aerospace parts or helicopter parts and other industrial goods coming from the country.” Also taking into account the country’s niche in the electronics sector, the country’s Trade negotiator said, “We’re hoping that we could participate in their supply chain, especially if they will be promoting digital transformation in the region.” According to the DTI, the Cepa with the UAE will “operationalize” the Philippines’s trade strategy to enter new markets as stated in the Philippine Development Plan (PDP) 2023-2028. The UAE is the Philippines’s 17th largest trading partner and the top export market among all Gulf Cooperation Council member states. Moreover, the Trade department highlighted that UAE is “second home” to one of the largest populations of overseas Filipinos in the Middle East, as well as “well-known and home-grown Filipino brands and businesses.”

@jrsanjuan1573

HE Supreme Court has directed Vice President Sara Duterte, Executive Secretary Lucas Bersamin and Department of Budget and Management (DBM) Secretary Amenah Pangandaman to comment on the petition filed last month seeking to declare as unconstitutional the transfer of the amount of P125 million last December 2022 from the Office of the President (OP) to the Office of the Vice President (OVP) for use as confidential funds. In a resolution issued on November 14, 2023 but made public only on Monday, the Court en banc gave the respondents 10 days to comply with the directive. On the other hand, the Court directed the petitioners to comply within five days with the requirement to submit an electronic copy of the petition and its annexes through electronic mail within 24 hours from the filing of the hard copies and a

PHL...

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www.businessmirror.com.ph

Single-digit...

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But for the 2024 performance, Ortiz-Luis remains optimistic of the country’s exports, saying, it’s “Always better. I think we are outpacing even our neighbors in terms of growth rate, it’s just that their base is already so substantial.” However, the head of the umbrella organization of Philippine exporters noted the change in the dynamics of the growth drivers of exports for next year, as he noted the decline in exports earnings of the semiconductor industry this year. “Well, semiconductors are a big [part of our exports], and they don’t expect to meet their original target; so it’s services that will make up for it,” he stressed. L ast week , Semiconductor and Electronics Industries of the Philippines Inc. (Seipi) President Danilo C. Lachica said in a televised interview that the industry revised this year’s projection from flat to a decline of around 9 to 10 percent in exports, compared to the industry’s $49-billion export sales in 2022. The Seipi head noted that the board decided to lower the industry’s growth projection for this year on the back of inventory correction issues and the global headwinds. With these developments in the export landscape, Ortiz-Luis noted the challenges that continue to hound exporters. These, he noted, are inflation and salary increases which he said threaten small exporters as well as investors. “Well, it’s inflation and the threat of the salary increases that exporters are anxious about; investors are turned off because they don’t know what will happen next,”

Deficit...

the Philexport chief said. For her part, Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) Director Bianca Pearl R. Sykimte divulged to reporters that they have to discuss the recalibration of targets set in the PEDP 2023-2028 after the Exporters’ Week. She pointed to the “volatile” international trading environment as the culprit behind the changing of the exports targets set in the exports development plan. “Well, admittedly the international trading environment has been very volatile. So the emphasis of PEDP is really developing agile exporters. So we cannot really predict what will happen in the future but what’s crucial is that exporters get competitive so they can easily adjust to whatever opportunities and threats,” Sykimte said, partly in Filipino. In recalibrating the exports target, the Trade official said they will take into account “economic growth in our markets as well as their forecasted imports and of course our supply capability.” Sykimte noted, however, that the strategies indicated in the Plan would remain to be “industry development-centric.” “And it’s now reflected in the structure of the DTI where we really marry industry development, trade promotion and of course investment promotion,” she added. In 2022, the reaped about $98 billion worth of export earnings from services and goods. (Related story: https://businessmirror.com.ph/2023/11/06/govtto-miss-2023-exports-target/)

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This will increase the capacity of each train set by 394 passengers to 1,576 passengers. “We expect to submit a notarized position paper to the chairman of the Rail Regulatory Unit of the DOTr this week,” she said. “We anticipate that within the next month or weeks, we will be issued a notice of public hearing.” Once the MRT 3 receives that, it will be required to publish its peti-

tion in a newspaper of general circulation for three consecutive weeks. “Then the rail regulatory unit has 30 days to evaluate and give their decision on whether our petition is approved or not, so that’s two months,” Aquino added. “After that, if it is approved by our Secretary and the rail regulatory unit, we are required to publish the approved fare for another three weeks prior to implementation.”

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have been signed on or after 30 September 2023,” Cacdac said. He stressed that contracts which were signed and verified by the Migrant Workers Office in Hong Kong on or before September 29, 2023, and which reflect the previous MAW and food allowances, will remain valid. Hong Kong authorities decided

Marriage...

to implement the new MAW and food a l lowances adjustments based on prevailing economic conditions within their jurisdiction, including the livelihood of FDH and the capability of employers to shoulder it. Last year, DMW reported there were 188,171 Filipino domestic workers employed in Hong Kong.

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However, 1,756 senior males married senior women and another 1,044 married women aged 55 to 59 years old. The data also showed 1,054 of these senior men married women aged 50 to 54 years old. PSA data showed 2,327 senior women aged 60 years old and over were married in 2022. Only 53 of these women married men who were at least half their age. Three of these women married men aged 20 to 24 year old; five married men aged 25 to 29 years old; 19 married men between 30 and 34 years old; and 26 married men between 35 and 39 years old. Meanwhile, PSA said marriages involving adolescent females were four times as many as those involving adolescent males. National Economic and Development Authority (Neda) Undersecretary for Policy and Planning Rosemarie G. Edillon said the number of adolescent marriages among females was welcome news. However, more needs to be done to address this. “G over n ment h a s recent ly

enacted laws to address this; next is to establish mechanisms to enforce this, and over time, for all of society to imbibe this in our values system,” Edillon told BusinessMirror. “We will continue to monitor this and to recommend measures correspondingly. In the short term, the concern is to make available the services needed to build the human capital of these young wives and enable them to still reach their full potential,” she added. In 2022, a total of 16,809 or 3.7 percent of the total marriages involved adolescent females below 20 years old. This is four times than the number of marriages involving adolescent males at 4,055 or 0.9 percent of the total. The data showed registered marriages between adolescent males and females account for 2,315 or 0.5 percent of the total marriages in the country. Of the 16,809 adolescent females, 56.2 percent married men ages 20-24 years and 21.5 percent married men ages 25-29 years. Cai U. Ordinario

Tuesday, December 5, 2023

www.businessmirror.com.ph • Editor: Vittorio V. Vitug

Strong earthquake strikes Surigao del Sur anew, Phivolcs says tremor not an aftershock of 1st one By Manuel T. Cayon @awimailbox

& Rex Anthony Naval

s ha l l ow b u t s t i l l strong quake jolted eastern Mindanao and eastern Visayas at dawn Monday, coming only two days after one of the country’s strongest quakes also occurred just nearby along the seismically active Philippine Trench. The Philippine Institute of Volc a nolog y a nd Sei smolog y (Phivolcs) confirmed that the magnitude 6.8 tremor 67 northeast offshore of Cagwait town in Surigao del Sur, was a separate earthquake incident from that of the magnitude 7.4 earthquake that happened last Saturday night, also offshore of the earthquake monitoring station of Hinatuan town.

Hinatuan is 67 kilometers south of Cagwait.

Monday’s earthquake was felt strongest at Intensity 5 in Cagwait, and Intensity 4 in the nearby towns of Surigao del Sur and Davao Oriental and could still be felt at a weaker Intensity 3 in Quinapondan in Eastern Samar, Dulag, Hilongos, Kananga, and Mahaplag in Leyte, Sogod in Southern Leyte. It was also felt at Intensity 2 in Argao, and Danao City in Cebu, Can-Avid in Eastern Samar, Alangalang, Albuera, Burauen, Carigara, Javier and Palo, in Leyte; the cities of Ormoc and Catbalogan in Samar and Malitbog, and San Juan in Southern Leyte. The Phivolcs said it was not expecting major damages but warned of aftershocks. At midday Monday, it has already monitored 130 aftershocks, four of which were of the magnitude of between 5.2 and 5.7. Saturday’s magnitude 7.4 already

China slams presence of US warship near Ayungin Shoal By Malou Talosig-Bartolome

HE Chinese military went on high alert in the South China Sea (SCS) after they reported the presence of a US warship entering near the waters off Ayungin Shoal (international name: Second Thomas Shoal; China name: Ren’ai Jiao) in the West Philippine Sea (WPS) Monday. The People’s Liberation Army (PLA) Southern Theater Command said the USS Gabrielle Giffords (LCS 10) was seen within the vicinity of Ayungin Shoal on Monday. Gabrielle Giffords is a littoral combat ship that is known to be fast, agile and capable of operating in both open-ocean as well as coastal areas to deal with submarines, mines and swarming small of small vessels. The Chinese military followed and monitored a US warship that “ illegally entered ” the waters near Ren’ai Jiao in China’s Nansha Qundao, Senior Colonel Tian Junli, spokesperson for the PLA Southern Theater Command, said in a statement on Monday. “On December 4, the USS Giffords littoral combat ship illegally broke into the waters adjacent to Ren’ai Reef in China’s Nansha

Islands without the approval of the Chinese government. Troops were on guard throughout the entire process,” he said. The Air Force officer also accused the US of “deliberately” disrupting security and stability in the SCS. He added the US “seriously violated China’s sovereignty and security, severely undermined regional peace and stability, and seriously violated international law and basic norms governing international relations.” The military official reiterated, “China has indisputable sovereignty” over the SCS islands and adjacent waters. “This fully demonstrates that the United States is the biggest threat to peace and stability in the South China Sea. China has indisputable sovereignty over the South China Sea Islands and adjacent waters,” the Chinese military said. The Philippine Navy has intentionally grounded its World War II vintage ship, BRP Sierra Madre, in Ayungin Shoal and deploys Philippine Marine contingent to stay on the ship. Rationing of food and other necessities for soldiers were constantly being blocking by the Chinese Navy, Coast Guard and militia.

PBBM extends Acorda’s term as PNP chief until March 2024 By Samuel P. Medenilla @sam_medenilla

resident Ferdinand R. Marcos Jr. extended the length of service of Philippine National Police (PNP) Chief General Benjamin Acorda Jr. until next year. Malacañang on Monday announced the President sent a letter to Acorda informing him of the deferment of the end of his term, which was initially scheduled on December 3, 2023, when he reached the 56-year-old compulsory retirement from service. “I wish to inform you that, pursuant to the provisions of existing laws, your service as Chief [Police General], Philippine National Police, is hereby extended until 31 March 2024,” Marcos said in a letter addressed to Acorda. It noted the Chief Executive

made the decision after Acorda “successfully led the police force since his appointment in April this year.” Under his leadership, PNP improved its Personnel Morale and Welfare, Community Engagement, Integrity Enhancement, Information Communication Technology (ICT) Development and Honest Law Enforcement Operations. Acorda became the 29th PNP chief during the change of command ceremony in Camp Crame, Quezon City on April 24, 2023. Prior to the said promotion, he served as director of the PNP Directorate for Intelligence. He is a member of the Philippine Military Academy Sambisig Class of 1991 and served PNP for almost 37 years.

generated 1,726 aftershocks, many of them unfelt, but the stronger ones include a magnitude 6.1 at past midnight of Saturday, a magnitude 6.2 three hours after the main earthquake and a magnitude 6.6 at early morning Sunday. Surigao del Norte Gov. Robert Lyndon S. Barbers issued a memorandum to all city and municipal government units under the province to exercise discretion on their power to cancel classes and work. Vice President and Department of Education (DepEd) Secretary Sara Z. Duterte also directed local education officials to implement blended learning methods in the affected areas “until all students and DepEd personnel are safe.” She also instructed them to implement on regular basis the “mandatory unannounced earthquake and fire drills.” “It is important for learners

to know what to do during earthquake, tragedies and other calamities. Through these repeated drills, they will know the importance of presence of mind,” she said.

Pinoys urged to take quake drills ‘more seriously’

Following the series of earthquakes that rocked Mindanao in the past few months, with the magnitude 7.4 earthquake that rattled Surigao Del Sur last December 2 as the most recent and strongest, Department of National Defense (DND) Secretary Gilberto C. Teodoro Jr. on Sunday reiterated to all Filipinos the need to take seriously the earthquake drills being undertaken on a quarterly basis. He made the statement shortly after a briefing on the Magnitude 7.4 earthquake that rattled Hinatuan, Surigao Del Sur last Saturday, even as he hailed Office of Civil Defense

(OCD) officials for their prompt response and for immediately activating the national response clusters. “We are reiterating our call for all our countrymen and LGUs [local government units] to take seriously our earthquake drills and precautions. Thank God that there was not too much damage for this quake [referring to the Surigao Del Sur quake],” Teodoro, who is also National Disaster Risk Reduction and Management Council (NDRRMC) chair, said. The December 2 earthquake in Hinatuan, Surigao Del Sur has already claimed the life of a pregnant woman and injured four others. It has also affected 529 families, totaling 2,647 individuals. Meanwhile, power has been restored in Davao City, Davao de Oro, Davao Oriental, and Hinatuan. Earlier, the NDRRMC was placed on “Blue Alert,” indicating that half

of the agency’s manpower is on standby for heightened monitoring of these incidents. The OCD is closely coordinating with the NDRRMC and local disaster risk reduction and management offices for the latest updates on the powerful Surigao Del Sur earthquake, which occurred weeks after the magnitude 6.8 quake that rocked Sarangani, Davao Occidental. This earthquake in Sarangani, Davao Occidental reportedly resulted in 11 deaths, according to official data from the NDRRMC, and left 37 others injured. It also caused damage in areas across the Davao Region, Soccsksargen, and other parts of Mindanao. Last month, OCD Administrator Undersecretary Ariel F. Nepomuceno directed civil defense officials to enhance earthquake preparedness measures.

AFP verifies ISIS’s claim it’s behind MSU bombing

ollowing reports in the foreign media that terrorist group ISIS had a hand behind the Sunday bombing of the Mindanao State University (MSU) that killed four persons and wounded at least 50 others, the Armed Forces of the Philippines (AFP) on Monday said that it is now conducting an investigation to verify these claims. “The AFP is validating the claims made by ISIS in the recent news reports as well as the involvement of the (Daulah Islamiya) DI-Maute Group in this heinous acts of terror,” AFP public affairs office chief Col. Xerxes Trinidad said in a statement forwarded to reporters Monday. Foreign news media earlier carried reports claiming ISIS was behind the deadly bombing attack in Marawi. In line with this, Trinidad said the AFP is now conducting an investigation with the Philippine National Police (PNP) to determine the bomb signature that would help investigators in identifying the terrorists behind this atrocity. And to ensure the immediate arrest and neutralization of the suspects behind the attack, Trinidad said all AFP units are now on heightened alert. “The AFP is on heightened alert to ensure the safety of the public and that the perpetrators responsible will be apprehended and/or neutralized. The AFP remains committed to its mandate of protecting the people and the state from all various threat groups, foreign and domestic,” he added. Earlier, ranking military and defense officials declined to comment on claims that the

attack was carried out by foreign terrorists, as the investigation is still ongoing.

AFP condemns attack

This as the AFP condemned the “heinous act of terror” that took place at the Dimaporo Gymnasium at MSU around 7:14 a.m. Sunday. At the time of the blast, a mass commemorating the first Sunday of Advent was ongoing. “We extend our deepest condolences to the families of the victims. Rest assured that units on the ground have already heightened security measures in and around Marawi City to prevent any further harm to the community,” Trinidad said. Also, he added that local terrorist groups are now resorting to bombing as their preferred course of action to magnify their terrorist acts as it often attracts domestic and international attention. “Terrorist groups often employ similar tactics and strategies to create chaos and instill fear, similar to the cathedral bombing in Jolo Sulu in 2019. Such incident whether or not motivated by religious tensions should be condemned regardless of the perpetrators’ motives,” Trinidad added.

‘Nothing to fear’

As this developed, the Department of National Defense (DND) on Sunday assured the Filipino public that they have “nothing to worry about” for their safety this holiday season following Sunday’s terror attack. DND Secretary Gilberto C. Teodoro Jr., in a statement issued Sunday, assured the public

that the government is doing everything it can to protect them from such incidents. He also said President Ferdinand R. Marcos Jr. has ordered the appropriate agencies to immediately resolve the incident to prevent its repeat. This as the PNP is now on “Red Alert “ status in its all regional offices in Mindanao, while on heightened alert in Metro Manila. Meanwhile, all AFP in Mindanao and Metro Manila were also placed on alert too.

Ranking ASG sub-leader neutralized in Basilan

As this developed, the AFP announced the neutralization of Abu Sayyaf Group (ASG) sub-leader Mudzrimar Sawadjaan in Basilan last December 2. “In a significant development, the AFP successfully neutralized ASG subleader Mudzrimar Sawadjaan also known as ‘Mundi’ on Saturday, December 2 in Basilan,” Trinidad said. Troops from the Joint Task Force (JTF) Orion under Western Mindanao Command carried out a special intelligence operation targeted at the high-value individual at approximately 6:30 pm in the municipal waters between Barangay Banah, Tipo-Tipo, and Barangay Lahi-lahi Tuburan, Basilan. Sawadjaan was killed as he was attempting to leave the island province. A traditional Muslim burial will be conducted, while efforts are underway to contact any family members to facilitate the claiming of his remains. “The successful operation is a testament

SC releases results of ’23 Bar examinations today By Joel R. San Juan @jrsanjuan1573

HE Supreme Court’s Office of the Bar Chair (SC-OBC) is set to release today, Tuesday, the results of the 2023 Bar examinations held in 14 testing centers nationwide last September 17, 20, and 24. In an advisory issued by 2023 Bar Chair Associate Justice Ramon Paul L. Hernando, the SC-OBC said it will install LED walls in the SC courtyard to display the list of successful

examinees until 6 p.m. for the convenience of all concerned. The results will also be posted on the SC’s official website and official social media pages on X, Threads, Facebook and Instagram. “Given the highly sensitive nature of the information relating to the results, the office of the 2023 Bar chair enjoins all Bar examinees and concerned stakeholders to exclusively rely on the official communication channels for accurate, verified, and updated information regarding the results and remain vigilant against all kinds of

misinformation and disinformation,” the SC noted. The Court also advised all persons entering the SC courtyard for the results to come in proper and decent attire. The actual time of the announcement and release of the names of successful examinees, according to the SC, will depend on the time the en banc finishes its deliberations and decoding of the results. A total of 10,387 out of the 10,791 registered examinees took and completed the three-day regionalized and digitalized

Go calls for vigilance amid reported rise in flu cases

s the country continues to manage a significant number of flu-like cases, Senator Christopher “Bong” Go underscored the importance of maintaining vigilance and complying with health protocols, including the voluntary use of face masks whenever possible. In an interview on Thursday, November 30, after attending the groundbreaking of the Super Health Center in Malabon City, Go addressed the public’s concern about the

rising cases in China and its implications for the country. He also encouraged the voluntary use of face masks, saying, “Kung nagawa nating mag -face mask sa dalawang taon, ngayon pa na hindi naman po mandatory.” The Department of Health (DOH) is currently not advising the implementation of border controls in response to the recent surge in respiratory illnesses reported in China. The rise in respiratory cases in

Beijing, predominantly among children, has been noticeable since mid-October. Additionally, in November, there have been reports of clusters of undiagnosed pneumonia in several children’s hospitals in China. Meanwhile, Go also highlighted the government’s efforts to provide accessible health care, particularly for early disease detection. “ N a n d i ya n n a m a n p o a n g m g a

to the relentless efforts and unwavering commitment of our Armed Forces to ensure the safety and security of our citizens. The troops of the JTF Orion have displayed exceptional courage and bravery throughout this operation, and we commend their dedication to protecting our communities in Basilan,” Trinidad said. PNP Chief Gen. Benjamin Acorda Jr., ordered more police personnel in an around the campus of the MSU in Marawi City to ease tension inside the campus in the aftermath of the deadly explosion on early Sunday morning. The explosion that police investigators believed was deliberately done by still unknown perpetrators happened during the final examination week. Gov. Mamintal Adiong Jr., speaking on national television on early Monday, said the death toll remained at four amid circulated reports that the number of fatalities had climbed to as many as 11. “As of last night, the death toll was four. Three died on the spot and one died on the way to Amai Pakpak Medical Center (APMC),” he said. Of the 47 brought to the APMC, 35 were discharged last night and many of the students brought for treatment at the MSU Infirmary were also discharged and had left the university to go home to their provinces. The Bangsamoro Autonomous Region in Muslim Mindanao also issued an erratum to its statement indicating new death toll figures. Rex Anthony Naval and Manuel T. Cayon

2023 Bar exams. The subjects covered during the three-day exams were Political and Public International Law, 15 percent; Commercial and Taxation Laws, 20 percent; Labor Law and Social Legislation, 10 percent; Criminal Law, 10 percent; and Remedial Law, Legal and Judicial Ethics with Practical Exercises, 25 percent. The oath taking and signing of the Roll of Attorneys of the successful examinees will be held on December 22 at the SMX Convention Center in Pasay City. Meanwhile, the 2024 bar examinations will be chaired by Associate Justice Mario V. Lopez. Malasakit Centers, mga DOH hospitals, mga government hospitals, even private hospitals. Nandiyan din po ang inyong Super Health Center. Kaya nga po may Super Health Center para diyan na po gagawin ang mga early disease detection,” he remarked. Malasakit Centers bring together representatives from the Department of Social Welfare and Development, DOH, Philippine Health Insurance Corporation, and Philippine Charity Sweepstakes Office. These one-stop shops aim to support impoverished patients in reducing their hospital costs to the least possible amount.

Tuesday, December 5, 2023

Economy

DA rolls out agri map in bid to boost PHL rice production By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) rolled out its updated color-coded map to help farmers determine suitable crops in their areas, particularly for that cultivating rice paddy. The DA said it successfully updated its National Color-Coded Agricultural Guide (NCCAG) Map for the first time since the digital tool was launched in 2017. “The NCCAG map is a database of map overlays that shows the natural suitability of economically important crops and the eight [8] major hazards based on projected climate scenarios for 2050,” the DA said on Monday. “It overlays data on soil properties,

elevation, slope, rainfall pattern, temperature, and climate change-induced multi-hazards,” the DA added. The updated NCCAG map utilizes the latest maps from various mapping agencies and introduces new features as it seeks to emphasize statistical data integration. DA Climate Resilient Agriculture Office (CRAO) Director Alicia G. Ilaga said updating the map was critical in ensuring that the digital tool is providing “accurate” and “reliable” information to farmers. The DA CRAO led the updating of the NCCAG map. “The thematic datasets used in the NCCAG Map are obtained from different mapping source agencies, which generate new sets of data every five years. Updating the map ensures that all information remains accurate and

up-to-date,” Ilaga said. “This initiative aligns with their commitment to providing tools that assist in providing valuable insights and facilitate well-informed planning and decision-making processes regarding agricultural suitability, climate hazards, and land cover data,” Ilaga added. The updated NCCAG map has increased its number of covered crops to 21 from 20 and included a new layer called Rice Suitability Zones (RSZ). The RSZ provides data on the current and potential expansion areas for rice cultivation while providing information on soil properties vital to rice growth, according to the DA. “The database features maps that are vital to crop growth and survivability such as water availability and

Groups backs LTO’s push for digital transformation By Lorenz S. Marasigan @lorenzmarasigan

HE L a nd Tra n s por t at ion Office (LTO) has found allies among several advocacy groups that are calling for the continued push for “honest-to-goodness digital transformation.” In a joint statement, leaders of the Automobile Association Philippines (A AP), the Philippine Automotive Dealers Association (PADA), Philippine Insurers and Reinsurers Association (PIR A), the Philippine Transport Monitor (Philtram), and the Vox Dei Protocol Systems Inc. said they support LTO’s Land Transportation Management System (LTMS). A A P president Aug ustus Ferreria expressed full endorsement for LTMS, noting its potential for modernization, transparency, and

efficient public service. “The system brings with it modernization, transparency, and above all, efficient public service not just to our members, but more importantly to the country’s motorists. The LTMS not only represents a significant technological leap but also assures a corruption-free environment—a vital factor in any national progressive goal. This move reflects a genuine commitment to enhancing the experience of owning a motor vehicle and we at AAP stand firmly in support of the government’s efforts,” he said. PADA President Willy Tee Ten noted that LTMS has had “tangible benefits...[including] faster turnaround registration time as well as quicker new plates assignment.” PIRA executive director Mitch Rellosa echoed Ten’s statement, saying, “As far as PIRA is concerned, there is a

significant improvement on LTO’s efforts to improve their database management. With LTMS exclusively handling renewal transactions, LTO has done a great service to the public by reducing their cost for registration. PIRA wholeheartedly supports these worthwhile actions of LTO.” Philtram VP Martin de los Angeles and Vox CEO Jeane Catherine Mondejar collectively lauded the LTMS as a “leap” in the modernization of the LTO. These endorsements came after the LTO Management Information Division (MID) called for the full utilization of LTMS, which was developed by the German-led joint venture group Dermalog. In a memo, the MID emphasized that LTMS, being government-owned, offers significant advantages over the previous privately-owned IT system, including greater data security, independence, and alignment with public accountability and transparency. “By transitioning to LTMS, we regain control and independence over our system, ensuring greater data security, privacy, and flexibility in managing our operations,” the memo, signed by LTO MID acting chief Joseph Paul Petilla, read. The LTMS has long been a hot topic in the industry, with the Commission on Audit (COA) earlier flagging the LTO for “undue payments” to Dermalog despite allegedly not meeting milestones listed on the terms of reference (TOR). State auditors likewise raised issues on maintenance payments for the information technology (IT) system in 2019 despite being delivered only in 2020.

climate data, as well as location-specific information on socio-economic conditions,” the DA said. “NCCAG Version 2.0 also integrates the Climate Risk Vulnerability Assessment [CRVA] Maps of 63 provinces nationwide and includes location and data on the DA’s AMIA [Adaptation and Mitigation Initiative in Agriculture] Villages,” the DA added. Since its launching, the DA said the NCCAG has been “instrumental” in “advising farmers on crop selection for optimal production and identifying climate risks in agricultural areas.” “It also serves as a guide for national government agencies and local government units for the locationspecific deployment of technologies and support services based on climate risks,” it added.

Mixed oil price adjustments greet first week of December By Lenie Lectura @llectura

IL firms are implementing mixed movements in the prices of petroleum products this week. Gasoline prices are set to go up by P0.30 per liter, while kerosene will increase by P0.20 per liter. The price of diesel, meanwhile, will go down by P0.30 per liter. Petron, Shell, Caltex, PTT, Phoenix, Total, Unioil, Jetti, and Seaoil said separately that their price adjustments would take effect at 6.a.m of December 5. Cleanfuel, meanwhile, will implement its new pump prices at 12:01 a.m. Last week, oil companies implemented price rollbacks for diesel, and kerosene by P0.30 and P0.65 per liter, respectively. There was no adjustment on the price of gasoline. The said adjustments resulted in a yearto-date net increase of P6.00/liter for diesel and P1.74/liter for kerosene while gasoline remains at its net increase at P12.30/liter. Department of Energy-Oil Industry Management Bureau Director Rodela Romero said this week’s price adjustment could still be attributed to the reduced production within OPEC + and increase in US crude oil inventories. Movements in the world oil market affect local pump prices. Oil firms adjust their prices every week to reflect movements in the world oil market.

Editor: Vittorio V. Vitug • www.businessmirror.com.ph

The two tribes of AI–plus one tribe! 2. Prioritize Corporate Social Responsibility (CSR):  Develop and implement a comprehensive CSR strategy that aligns with your business values and contributes to society.  Implement policies that promote equal opportunities, support local communities, and contribute to social causes.

3. Continuous Learning and Skill Development:

By Henry J. Schumacher

N a world increasingly shaped by artificial intelligence (AI), a fierce debate rages between two contrasting philosophies: the “doomers” and the “accelerationists.” This divide has been highlighted by the recent tumult at OpenAI—and the outcome of this debate could significantly shape the future of humanity as we know it. A battle of extremes: The debate between AI doomers and accelerationists is coming to a head.  Doom and gloom. So-called “doomers,” fearing a dystopian future, advocate for a significant slowdown in AI development. They worry about the existential risks for humanity, emphasizing safety and ethical concerns.  Vroom vroom. Meanwhile, “accelerationists” are all-in for rapid AI advancement. They believe in harnessing AI to solve critical global issues and, in more extreme cases, envision AI transcending human existence, reshaping humanity itself. I would like to add a third Tribe: While I agree that we businessmen must focus on what’s happening on the AI side, I would like to see more focus in 2024 on the Common Good. I am aware that we need to stay competitive, but I would like to convince you to also focus on the common good, which requires a balanced approach that considers both economic success and social responsibility. Here are some suggestions for actions you can take in 2024 to achieve this:

1. Embrace Sustainable Practices:  Implement environmentally friendly practices in your business operations, such as reducing waste, using renewable energy, and adopting ecofriendly technologies.  Consider how technology can be used to address social challenges or improve the well-being of communities.

 Invest in the continuous learning and skill development of your workforce to adapt to changing market demands.  Support educational initiatives in your community to contribute to a skilled and capable workforce.

4. Ethical Business Practices:  Uphold ethical standards in all aspects of your business, from procurement to marketing.  Be transparent about your business practices and communicate openly with customers and stakeholders.

5. Collaborate with Stakeholders:  Build strong relationships with customers, suppliers, and other stakeholders to create a network that supports mutual success.  Collaborate with other businesses and organizations to address shared challenges and contribute to the common good.

6. Data Security and Privacy:  Invest in robust cybersecurity measures to protect sensitive data.  Respect user privacy and comply with data protection regulations to build trust with customers. Please remember that a long-term perspective is crucial for sustainable success. Balancing competitiveness with a commitment to the common good can lead to a resilient and socially responsible business. Please know the earth is moving towards climate disaster and governments are acting too slowly to avert it. The third tribe is needed!!!! In this context, I appreciate the Department of Finance’s suggestion to President Ferdinand R. Marcos Jr. to support the creation of an Excise Tax on Single-Use Plastic Bags. And allow me to add, that a partnership between the haves and the have-nots are the only way we can feel secure that we will not all be losers in the end. I hope you enjoyed the three tribes and will adopt some of the recommendations as you plan your business strategies for 2024. I am looking forward to your comments; please contact me at hjschumacher59@gmail.com

www.businessmirror.com.ph | Editor: Vittorio V. Vitug

Rep. Yamsuan bares option to resolve prison congestion

N an effort to alleviate overcrowding crisis in correctional facilities, with 20,000 persons deprived of liberty (PDLs) being repeat offenders of “reoffenders,” a lawmaker on Monday underscored the importance of reducing reoffenders through targeted interventions, including rehabilitation programs offering job and livelihood opportunities. Bicol Saro Party-list Rep. Brian Raymund Yamsuan said providing appropriate interventions to PDLs to prevent them from becoming repeat offenders will help decongest the country’s overpopulated penal and detention facilities. Highlighting the success of the Bureau of Jail Management and Penology (BJMP) in decongesting detention facilities, Yamsuan points to the release of over 74,000 PDLs in the first 10 months of 2023. “The BJMP’s jail decongestion initiatives not only involve speeding up the necessary legal processes to free PDLs eligible for release but also rehabilitation programs that provide them with job and livelihood opportunities to help them return to society as productive individuals,” said Yamsuan. According to Yamsuan, the BJMP has gone beyond legal and paralegal assistance, initiating collaborations with tertiary educational institutions through the College Education Behind Bars (CEBB) program, implementing an alternative learning system (ALS) in jails in coordination with the Department of Education (DepEd), and providing employable skills training to PDLs. Yamsuan said the BJMP has also spurred artistically inclined PDLs to showcase their creative talents through artwork and handicrafts to boost their morale and help them earn money that they can send to their families. Such efforts were recently demonstrated by the PDL Livelihood Products Exhibit that the BJMP set up at the House of Represent at ives’ Bat asa n Comple x in partnership with Yamsuan’s congressional office. “Through these initiatives, the BJMP is able to prevent recidivism among the PDLs under its care. By breaking the cycle of reoffending through appropriate rehabilitation programs, the BJMP was able to make significant headway in its jail decongestion efforts,” said Yamsuan, a former assistant secretary of the Department of the Interior and Local Government (DILG), which supervises the jail management bureau. Jovee Marie N. Dela Cruz

News BusinessMirror

Tuesday, December 5, 2023

Govt prodded to invest in vessel tracking system to curb smuggling

HE government should consider acquiring an Automatic Identification System (AIS), a vessel tracking method, in the fight against smuggling and illicit tobacco trade, which had grown into gigantic proportion, making these not only an economic, but also a national security threat. Former Congressman Jericho “Koko” Nograles warned that a g r i c u l t u r e s mu g g l e r s a n d perpetrators of illegal tobacco trade have unbelievably become “bigger and bolder.” The magnitude of agriculture smuggling, illegal tobacco trade, and all related illegal trades leads to suspicions of their threat to national security. Illegal activities have even been linked to financing terrorism.

“The problem wasn’t as bad as now,” said Nograles during the Anti Illicit Trade Inter Agency Dialogue. “Then, barely two years ago, the legitimate tobacco industry was just getting pinched. Now it’s bleeding.” A serious victim of illegal tobacco trade is the consumer himself who is exposed to risks of adverse health effect brought about by unregulated tobacco manufacturing. “We are fighting illegal tobacco

smugglingbecauseitisposingserious health risks to consumers while the government suffers from foregone revenue in billions,” according to Department of Agriculture Undersecretary Deogracias Victor B. Savellano during the same dialogue. “With its complex nature, we need a whole-of-nation approach in this fight. We should involve all agencies, including the DND [Department of National Defense] and the National Security Council,” he said. Tobacco smuggling’s impending victims also are legitimate tobacco manufacturers that are paying their tax dues. “If smuggling and illegal tobacco trade continues, the legitimate industry will close. They will pack and go. These will accelerate their decision making to say ‘it’s the end.’ That is goodbye to people who are willing and happy to pay taxes,” said Nograles. Government should look into strengthening its border control while also investing in human resource training, automation, digitalization, and technology in the fight against smuggling, said Savellano.

Automatic identification system or AIS is a transponder system enables information exchange between ships and ship stations (Marine Online). As there are dotted gray lines between countries’ territories at sea, the question on which country has jurisdiction on policy enforcement over this area arises. An AIS system will enhance col laborative ag reements between Indonesia, Malaysia, and Philippines on the enforcement of anti-smuggling laws over these questionable areas. “ T hese dot ted g ray l i nes have become a good business for smugglers,” said Nograles, explaining it must be another reason why illegal activities have been flourishing. As part of the AIS technology, a tracker of vessels, an app called “Marine Traffic,” is capable of identifying vessels, including small boats that are now apparently being heavily used in smuggling. T h e s m a l l b o at s , c a l l e d “jongkong,” are able to dock on

Solons revive death penalty call after execution of two Pinoys for drug-related offense in China By Jovee Marie N. Dela Cruz @joveemarie

FTER China executed two Filipinos for drug-related offenses, senior House members on Monday called for the re-imposition of the death penalty on certain heinous crimes, especially drug-related offenses. Cagayan de Oro City 2nd District Rep. Rufus Rodriguez called for a “tit-for-tat” treatment of Chinese convicted by local courts for drug trafficking by imposing the death penalty on them, while Surigao del Norte Rep. and chairman of the House Committee on Dangerous Drugs Robert Ace Barbers urged the two houses of Congress to take a serious look at the

re-imposition of the death penalty. Barbers has consistently refiled his bill in the three Congresses reimposing the death penalty on certain heinous crimes, especially on drug-related offenses. House Bill 1543 is still pending in the House justice committee. “Our kababayans convicted in foreign lands for drug trafficking are almost always executed while we extend kid gloves treatment, if not VIP treatment, to foreigners, especially Chinese nationals who are apprehended and convicted of the same offense here. There should be a similar punishment imposed on these foreign nationals as well as fellow Filipinos who introduce drugs into the country. If other countries

treat illegal drugs as a threat to their citizenry and the whole society, why are we so soft in treating this menace in our own territory?” said Barbers. “China was firm in executing Filipinos, yet we are being flooded with tons and tons of illegal drugs, especially shabu from China. It is a wonder that while China is very hard on drug trafficking, the drugs that come to our shores originate from its ports. Yet, we have yet to see one Chinese convict being executed to deter others from committing such a heinous crime,” he added. It may be recalled that during the past administration, the concentration was on the demand side, leading to the arrests and deaths of thousands of street drug

pushers and users. For his part, Rodriguez said, “If they put our compatriots to death for violations connected to illegal drugs, let us do the same to their nationals, many of whom are caught manufacturing, peddling, or smuggling drugs into the country.” He said drug traffickers and other criminals in China and other countries where the death penalty is imposable “go to the Philippines to pursue their nefarious activities because they know that if they are convicted, they can enjoy life in prison and even continue their illegal pursuits there.” He said most of the drug law violations caught by local authorities are Chinese.

FFW hails PBBM’s okay of caregiver welfare law By Patrick V. Miguel

A BOR group Federation of Free Workers (FFW ) hailed President Ferdinand R. Marcos Jr. for signing the C a r e g i v e r We l f a re A c t i nto l aw, “m a rk i ng a sig n i f ic a nt advancement in labor rights and social justice in the Philippines.” Careg iver Welfare Act or Republic Act No. 11965 is “An Act Institutionalizing Policies for the Protection and Welfare of Caregivers in the Practice of their Occupation.”

“This act not only provides much-needed legal protection to our caregivers but also uplifts their dignity and acknowledges their invaluable contribution to our society,” said FFW in a statement. It seeks to benefit caregivers in terms of employment status recognition, regulated working hours and overtime, better wage, among others. The new law will transition domestic caregivers’ employment status from an “ independent contractors” to employees with full

coverage under labor standards law. In addition, working hours for domestic caregivers will be based on employment contracts, including entitlement to overtime pay for services rendered beyond eight hours a day. Caregiverswillalsobeguaranteed a minimum wage not less than the applicable regional minimum wage and a night shift differential pay rate. The new law applies to all caregivers employed in private homes, nursing or care facilities, and

other residential settings within the Philippines, whether they were hired directly or through Public Employment Services Office (PESO) and Private Employment Agencies. “It is a step towards fulfilling the promise of social justice enshrined in our constitution and enunciated by President Ramon Magsaysay, ‘those who have less in life must have more in law,” said FFW. The labor group also urged caregivers to form a workers’ association and join FFW “for mutual help and protection.”

SENATOR Jinggoy Estrada

Jinggoy endorses MUP reform bill; only new entrants will contribute

HE Senate is on track to frontload passage of awaited remedial legislation introducing reforms in the military and uniformed personnel pension system. Senator Jinggoy Estrada, chairman of the endorsing Senate Committee on National Defense, clarified at the outset that in reforming the military and uniformed personnel pension system, “only new entrants will be required to give contribution.” Estrada endorsed to the plenary on Monday his committee’s report on the proposed new system for MUP pensions—a controversial bill that sparked debates among lawmakers and between other stakeholders. He further stressed that “only new

entrants in the country’s military and uniformed services will have pension deductions in their monthly pay.” Estradaincludedthisamendment in the substitute measure proposing reforms in the MUP pension system that the Department of Finance had been pushing “to prevent a fiscal collapse in the coming years.” The senator clarified that “this [amendment] means that whatever is being enjoyed by the current pensioners, and whatever is expected by those currently in active service, will still be enjoyed and received by them.” He noted that, “In fact, for some of them, the retirement pay will be higher by five percentage points.” “Our bill will not touch, not

change, and not trifle with he benefits of the retired pensioners. There will also be no diminution of the expected pensions of those currently in the service,” the senator stressed. Moreover, Estrada guaranteed a “more sustainable and secure pension” regime under the proposed Senate version of the bill, which will see the creation of separate trust funds for the Armed Forces of the Philippines (AFP) and another for those in the Philippine National Police (PNP), Philippine Coast Guard (PCG), Bureau of Fire Protection (BFP), Bureau of Jail Management and Penology (BJMP), Bureau of Corrections (BuCor), and commissioned officers in the

National Mapping and Resources Information Authority (NAMRIA). He added that the trust fund will be managed by the Government Service Insurance System (GSIS) and overseen by the trust fund committees of the military and uniformed services. For those who will enter the service after the enactment of the bill, the military personnel’s contribution will be 7 percent of their base pay and longevity pay, while the rest of those in the uniformed services will be 9 percent, with the government contributing 14 percent and 12 percent, respectively to their pension funds. Once in place, the retirement pay will be increased to a maximum

of 90 percent of the base pay and longevity pay for all MUP, from the current 75 percent and 85 percent. While there will be no automatic indexation for new entrants, there will be annual adjustments in pension depending on the fiscal or economic conditions, Estrada said. “I sincerely hope that this will be the Congress that finally addresses this pressing concern affecting not only the fiscal position of the country but also the stability of the defense establishment and the uniformed services as persistent talks of reforming the pension system stir trepidation and uneasiness among their ranks,” Estrada added. Butch Fernandez

any small island, which may have caused the huge growth in illicit trade activities. The AIS technology may be very expensive for small fishermen. But if government shoulders the costs, its economic benefit may turn out to be huge since the illegal trade problem is even causing huge economic losses to the country. “ The new Coast Guard has proposed it [AIS], but it’s too expensive. But we find ourselves in a situation now that is so absurd that the losses could actually pay for the solution,” said Nograles. Under prevailing practice, only vessels with huge capacity are required to acquire the system that enables their tracking at sea. And jongkong boats are not required to install such system, making these untraceable, enabling tobacco smugglers to easily run away with their illegal trade. If gover nment i nvests i n such system, Nograles suggested government might even find it easier to guard its territorial rights over West Philippine Sea.

8 more Pinoys, Palestinian exit Gaza Strip after truce By Malou Talosig-Bartolome @maloutalosig

S soon as the cease-fire between Israel and Hamas ended, eight more Filipinos and a Palestinian exited Gaza Strip, the Department of Foreign Affairs (DFA) said. DFA Undersecretary Eduardo de Vega said the eight Filipinos crossed the Rafah border on December 2. Aside from the eight Filipinos, one Palestinian, who is a relative of a Filipino national, was also allowed to leave Gaza. However, nine Filipinos who initially signed up to evacuate had decided at the last minute to stay behind as their Palestinian fathers were not allowed to leave the enclave. Both Israel and Egypt control the Rafah border. Palestinians in Gaza are generally not allowed to exit, but if they are close family relatives of foreigners, such as Filipinos, and cleared by authorities, they can leave Gaza. “A Filipino from the batch of eight decided to stay behind with her Palestinian father. Eight other Filipinos from one family changed their minds and decided to remain in Gaza with their Palestinian father. Their mother is already in the Philippines,” Philippine Ambassador to Jordan Wilfredo Santos said. The Philippine Embassy in Amman has consular jurisdiction over Palestinian occupied territories, such as Gaza and West Bank. The Philippine Embassy in Eg y pt took over t he welfare of Ga z a-ba sed Fi l ipi nos a nd Palestinian relatives upon landing at the Egyptian border. “A team led by Vice Consul Crystal Ann Dunuan was at the Egyptian side of the Rafah border to assist the Filipinos and liaise with the Egyptian authorities until the group finalized entry formalities late on 2 December. They reached Cairo early 3 December,” the Philippine Embassy in Egypt said. W it h t h is l atest batc h of evacuees, the DFA has extricated 86 percent of the 137 registered Filipinos in Gaza, De Vega said.

BusinessMirror

Tuesday, December 5, 2023

ESTABLISHMENT / ADDRESS No.

ESTABLISHMENT / ADDRESS

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

QUALIFICATION AND SALARY RANGE

No.

7 PRIME TECH, INC. 10/f Ewestpod, Eton Westend Square, Yakal St. Cor. Don Chino Roces Ave., San Antonio, City Of Makati JACKY Indonesian Marketing Specialist 1.

Brief Job Description: Prepares product or service reports by collecting and analyzing customer information.

Basic Qualification: Foreign language speaking.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

CHEN, JIANBIN Marketing Assistant - Mandarin Speaking 12.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Assists in creating and implementing the best possible strategies to reach their target audience.

ACADEMY FOR THE INTERNATIONAL COMMUNITY IN ASIA - AICA INC. Unit 302 Kamuning Place, #60 Kamuning Road, Kamuning, Quezon City MATSUO, TOMOYUKI Chief Marketing And Strategy Officer 2.

Brief Job Description: Oversee the sales activities that target Japanese clients, and manage all department and company documents.

Basic Qualification: College graduate. With at least 20 years of marketing experience both abroad and within the Philippines.

Brief Job Description: Develop, implement and manage direct acquisition strategies across various channels including telesales, SMS, email and push notifications, with the aim to drive customers through the origination funnel and aligning it with the company’s goals and objectives.

13.

Salary Range: Php 150,000 - Php 499,999

ADVANCED FINANCE SOLUTIONS, INC. 20th Floor Cyber Sigma Lawton Avenue, Bonifacio South, Bonifacio Global City, Fort Bonifacio, City Of Taguig LELIANOV, ALEKSANDR Head Of Direct Sales

CHEN, WEIJIE Marketing Assistant - Mandarin Speaking

Basic Qualification: Master’s in Business Management graduate. With proven work experience and track record in direct sales, specifically in the Fintech Industry. With excellent understanding of various sales and marketing strategies. Salary Range: Php 150,000 - Php 499,999

Brief Job Description: Works on complex vendor disputes and resolving the queries in a time bound manner. Manages vendor disputes via inbound email and outbound calls. Maintains customer relationships by responding timely and accurately to both internal (company) and external (vendor directly) questions and requests for information. Understands the pain points of vendors and solves vendor disputes.

Basic Qualification: Experienced/background in a finance role with an understanding of finance operations and have experience in relationship management. Fluency in Spanish, French and other European languages. Salary Range: Php 30,000 - Php 59,999

BRAR, GURWINDER SINGH Bilingual Speaking Virtual Assistant 14.

Brief Job Description: Responsible of all facets of leading the business: strategy, execution, P&L management and building a winning team. Leading the national team to deliver the current strategy by embracing the vision and plans for the business.

Basic Qualification: Minimum bachelor’s degree holder or similar to marketing/sales degrees. Salary Range: Php 150,000 - Php 499,999

15.

HE, BINBIN Customer Service Representative 6.

Brief Job Description: Field incoming help requests from end-users via both telephone and work orders.

Salary Range: Php 30,000 - Php 59,999

C’EST LA VIE EVENT MANAGEMENT INC. 230, Narra Street, Marikina Heights, City Of Marikina CAI, XIAOQIAN Project Coordinator 7.

Brief Job Description: The primary function of a project coordinator is to make sure projects run smoothly. Coordinating project schedules, resources, equipment and information.

Basic Qualification: Must be willing to attend meeting, sales events and trainings to keep abreast of the latest developments. Must be willing to work on field. Salary Range: Php 30,000 - Php 59,999

16.

Brief Job Description: Provide data analytics and data management job in actual business operation, monitor the efficacy of the department and improve operating processes for the company. OH WEE KIONG Operations Supervisor

Brief Job Description: Provide data analytics and data management job in actual business operation, monitor the efficacy of the department and improve operating processes for the company

Basic Qualification: Has the extensive experience in data analytics and data management and is proficient and able to communicate in Mandarin or any Chinese language. Salary Range: Php 150,000 - Php 499,999 Basic Qualification: Has the extensive experience in data analytics and data management and is proficient and able to communicate in Mandarin or any Chinese language.

17.

SANGTHOOP, NARUEMON Bi-lingual Speaking Customer Service Officer 10.

Brief Job Description: Resolves product or service in clarifying the customer’s complaint.

Basic Qualification: Fluent and proficient in writing and speaking at least 2 of the ff. languages: English, Mandarin, Cantonese, Thai, Bahasa Malaysia, Bahasa Indonesia, Korean, Spanish and Portuguese.

18.

19.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Maintain learning management tools used for classes. Create modules and contribute to program development. Attend weekly meetings with management. Find resources for teaching and make recommendations.

20.

Basic Qualification: With Bachelor’s degree in Business, Marketing, Management, Communications, or related field and fluent in Mandarin language. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999

21.

Basic Qualification: Bachelor’s degree holder. With at least 2 years of teaching experience. Fluent in both English and German languages. Salary Range: Php 60,000 - Php 89,999

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Ensures that the product supports the company’s overall strategy and goals.

Basic Qualification: Foreign language speaking.

22.

Brief Job Description: Provide language training or conduct English language lessons to the company’s Chinese clients via telephone and/or the Internet.

23.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

YOO, KWANGSOO Korean Customer Support Representative 24.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

TAN JIAN CHOW Malaysian Customer Support Representative Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

HUANG, YOUCAI Mandarin Customer Support Representative 26.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

30.

Basic Qualification: Able to speak and write in Korean and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in Korean and at least college level with related BPO experience.

Brief Job Description: Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently. CHU MANH HUNG Vietnamese Customer Support Representative

31.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints. BUI DINH BA Vietnamese Customer Support Specialist

32.

Brief Job Description: Experts at their product, and their primary duty is to resolve customer issues quickly and efficiently. LUONG, TRIEU PHAT Vietnamese Customer Support Specialist

33.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints.

GAN TZE YEE Managing Director, Philippines And White Spaces 34.

Brief Job Description: Responsible for achieving the organization’s operational and financial goals. Control, direct and participate in the activities of the organization through a hierarchy of managers and supervisors.

Basic Qualification: Able to speak and write in Mandarin and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in Mandarin and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in Mandarin and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in Vietnamese and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in Mandarin and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in Vietnamese and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Able to speak and write in Vietnamese and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate. With proven experience in a managerial role in a multinational company. With strong decisionmaking skills. Salary Range: Php 90,000 - Php 149,999

KNW TECHNOLOGY INC. 103 Equinox Plaza, Sierra Madre, Highway Hills, City Of Mandaluyong 35.

36.

37.

38.

39.

40.

41.

42.

TAT XUONG DANH Account Coordinator

Basic Qualification: Vietnamese speaking.

Brief Job Description: Design and renew sales proposal.

Salary Range: Php 30,000 - Php 59,999

VUONG MY NGOC Account Coordinator

Basic Qualification: Vietnamese speaking.

Brief Job Description: Design and renew sales proposal.

Salary Range: Php 30,000 - Php 59,999

HUYNH, NGOC MINH CHAU Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. LE, MINH HIEU Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. LUU THIEN PHU Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. NGUYEN HUU HOANG Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. NGUYEN TAN TAI Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. NGUYEN VU KHANH Customer Service Representative - Vietnamese Speaking

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Administering and receiving customer surveys on occasion.

Basic Qualification: Able to speak and write in Mandarin and at least college level with related BPO experience.

NGUYEN, THI HIEN Customer Service Representative - Vietnamese Speaking

Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

KIMBERLY CLARK PHILIPPINES, INC. 25th Floor Pse Tower One Bonifacio High Street, 5th Avenue, Corner 28th Street Bgc, Fort Bonifacio, City Of Taguig

Basic Qualification: Able to speak and write in Mandarin and at least college level with related BPO experience. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints. LIU, HONGYANG Mandarin Customer Support Specialist

Salary Range: Php 60,000 - Php 89,999

INVECH TREASURE PROCESSING CORPORATION 2nd, 3rd, 4th & 5th Floor Building E, Six West Campus, Le Grand Avenue, Mckinley Hill, Fort Bonifacio, City Of Taguig ERIK FAUSTINO Indonesian Customer Support Representative

29.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate. With previous work experience in a similar role. Fluent in Chinese and English languages.

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints. LYU, YUHANG Mandarin Customer Support Representative

Salary Range: Php 30,000 - Php 59,999

GOFLUENT PHILIPPINES, INC. 10/f Ibm Plaza Building, Eastwood City Cyberpark, Bagumbayan, Quezon City CHEN, SHUNAN Chinese Trainer (English Bilingual)

28.

Basic Qualification: Can speak and write Mandarin language to English language. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Supports customers by providing helpful information, answering questions, and responding to complaints. LI, XINZHE Mandarin Customer Support Representative

Basic Qualification: Can speak and write Mandarin language to English language.

Brief Job Description: Manage large amount of incoming phone calls.

LAI FINA Indonesian Financial System Manager

27.

Basic Qualification: Know how to translate Hindu language to English language and a competitive marketer. Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION KANG, QIQI Mandarin Customer Support Representative

Basic Qualification: Know how to translate Hindu language to English language and a competitive marketer.

Basic Qualification: Foreign language speaking.

Brief Job Description: Ensures that the product supports the company’s overall strategy and goals.

No.

Salary Range: Php 30,000 - Php 59,999

SHI, YANGSHEN Chinese Customer Service Representative

LIVI SUSANTI Indonesian Financial System Consultant

25.

11.

Basic Qualification: With Bachelor’s degree in Business, Marketing, Management, Communications, or related field and fluent in Mandarin language.

GIGA INFORMATION TECHNOLOGY AND SOFTWARE DEVELOPMENT INC. 2/f Lipam’s Building, 40 Presidents Avenue, B. F. Homes, City Of Parañaque

DIGISPARK TECH CORP. Unit 3 16th Floor Ore Central Building, 31st Street Corner 9th Avenue, Bonifacio Global City Fort, Fort Bonifacio, City Of Taguig

WU, XIANGBI Mandarin Customer Support Representative

Brief Job Description: Manage communication and answer emails from the Chinese client.

RICHTER, JEAN-LUC SEBASTIAN German Language Consultant

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With Bachelor’s Degree in Computer Science or any related course with a minimum of 1 year IT experience and able to speak and write in Mandarin language.

QUALIFICATION AND SALARY RANGE

ENDERUN COLLEGES, INC. 1100 Campus Avenue, Mckinley Hill, Pinagsama, City Of Taguig

Salary Range: Php 500,000 and above

CHROMELAB TECHNOLOGIES INC. 25/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

Brief Job Description: Manage communication and answer emails from the Chinese client. NING, LIUYAN Mandarin Admin II For Virtual

CASPO INCORPORATED 43/f, 45/f, 49/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati CHIN WEI LIAN Operations Supervisor

Brief Job Description: Conduct market research to identify opportunities for promotion and growth. CHEN, YUXUAN Mandarin Admin II For Virtual

BLUE-CHIP CENTRAL INC. Units 1-4 11/f Tower 6789, 6789 Ayala Ave., Bel-air, City Of Makati Basic Qualification: Fluent in Mandarin language, both verbal and written.

Brief Job Description: Conduct market research to identify opportunities for promotion and growth. RAJWINDER KAUR Bilingual Speaking Virtual Assistant

ARLA FOODS CORPORATION 24/f Citibank Center Bldg., 8741 Paseo De Roxas, Bel-air, City Of Makati TORP-BJERREHUS, MICHAEL Head Of Arla Foods Philippines

ESTABLISHMENT / ADDRESS

EFS DOCUMENTATION SERVICES INC. Unit 1102-b 11/f Aic Center, Escolta St., Barangay 291, Binondo, City Of Manila

AMAZON OPERATION SERVICES PHILIPPINES, INC. B21 Three E-com Moa Complex, Harbour Drive Cor. Bay Shore, Brgy. 076, Pasay City GOZE, LAGO SERGE Sr. FinOps Analyst - FR

Brief Job Description: Assists in creating and implementing the best possible strategies to reach their target audience.

www.businessmirror.com.ph

43.

Brief Job Description: Administering and receiving customer surveys on occasion.

Basic Qualification: At least college graduate and Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: At least college graduate and Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: At least college graduate and Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

44.

45.

46.

47.

48.

49.

50.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION NGUYEN, THI THOAI LINH Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. NONG, VAN TOAN Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. TRAN VAN SUU Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. TRAN, DINH HOA Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. TRAN, THI HOAN Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. TRUONG, THI THAO Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. VO THI KIM TIEN Customer Service Representative - Vietnamese Speaking Brief Job Description: Administering and receiving customer surveys on occasion. LUONG, XUAN HOANG Customer Service Representative- Vietnamese Speaking

51.

Brief Job Description: Administering and receiving customer surveys on occasion.

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

52.

Brief Job Description: Responsible for Procurement of TL materials and manage TL works, Tower Erection, Testing and Commissioning. Expertise in shutdown works. Spearheading of project management and logistics for vendor coordination in procurement.

53.

Brief Job Description: Oversee the sales and marketing team with regards to the overall Product and Marketing Strategy for Home Entertainment Products. Coordinate with Korean counterparts in the Korean HQ and production facilities.

LI, YIMING Chinese Customer Service 64.

54.

Brief Job Description: Provide outstanding and exceptional customer service.

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

Basic Qualification: Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

LI, ZHENYANG Chinese Customer Service 65.

Basic Qualification: Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

JEFRIANTO Indonesian Customer Service 66.

Basic Qualification: Vietnamese speaking.

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college graduate and Vietnamese speaking.

JEFFERY LAW WEI SENG Malaysian Customer Service 67.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

Basic Qualification: Vietnamese speaking. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College graduate. With at least 6 years of work experience in TL Procurement and Logistics, TL Erection and Project Monitoring.

AUNG MYO DAN Myanmar Customer Service 68.

69.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

LAY CA DAU Vietnamese Customer Service 71.

Salary Range: Php 500,000 and above

Basic Qualification: Can speak Chinese/ Mandarin language fluently.

Brief Job Description: Managing incoming calls and customer service inquiries. DOAN NGOC ANH Vietnamese Customer Service

70. Basic Qualification: Business Administration graduate. With previous work experience in the home appliance and entertainment industry. With exposure to overseas marketing strategies.

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents. MYO THU Myanmar Customer Service

MARKETROLE ASIA PACIFIC SERVICES, INC. 27/f & 28/f The Enterprise Center Tower 1, 6766 Ayala Ave. Cor. Paseo De Roxas, San Lorenzo, City Of Makati

GU, XIANG Customer Service Representative

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

Salary Range: Php 30,000 - Php 59,999

LG ELECTRONICS PHILIPPINES, INC. 15, Francisco Legaspi St., Maybunga, City Of Pasig PARK, YONGWOO Home Appliance Product Director

63.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: At least college graduate and Vietnamese speaking.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION LI, BINGCHEN Chinese Customer Service

Basic Qualification: Vietnamese speaking.

LARSEN & TOUBRO LIMITED - PHILIPPINE BRANCH G/f Highway 54 Plaza, 986 Stanford, Wack-wack Greenhills, City Of Mandaluyong

SENTHURPANDIAN, MANIBALA Transmission Line (TL) Manager

No.

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

LEO, VAN THANH Vietnamese Customer Service 72.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

Tuesday, December 5, 2023

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

No.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

80.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language. Salary Range: Php 30,000 - Php 59,999

81.

Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

Salary Range: Php 30,000 - Php 59,999

ALBERT TIGOR GULTOM Indonesian Language - Support Officer 82.

55.

56.

57.

58.

59.

60.

61.

Brief Job Description: Provide outstanding and exceptional customer service. PHAY HWAR Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service. SELLY Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service. TRAN QUOC CUONG Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service. VU NHAT THANH Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service. XU, YUKANG Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service. YAN, JINDONG Customer Service Representative Brief Job Description: Provide outstanding and exceptional customer service.

Basic Qualification: Can speak Chinese/ Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese/ Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Can speak Chinese/ Mandarin language fluently.

62.

Brief Job Description: Manage incoming calls and inquiries, handle complaints, provide solutions, process customer accounts, and file documents.

73.

83.

Basic Qualification: Can speak Chinese/ Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999

YOSEPH EDWIN Indonesian Language - Support Officer 74.

75.

76.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Assist in the planning & administration of the organization’s daily operation. NGUYEN THI THANH THAO Vietnamese Language - Marketing Supervisor

77.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

Brief Job Description: Assist in planning & administration of the organization’s daily operation. NASOONG, ANUCHA Thai Language - Support Officer

Basic Qualification: Can speak Chinese/ Mandarin language fluently.

Brief Job Description: Assist in the planning & administration of the organization’s daily operation. BUHA ASIH SIHOMBING Indonesian Language- Support Officer

Basic Qualification: Can speak Chinese/ Mandarin language fluently. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Responsible for leading and directing the overall company accounting operations and operational compliance to both statutory and internal reportorial duties.

Salary Range: Php 500,000 and above

Brief Job Description: Identify, develop and implement new strategies for selling products or services. PHAM BAO LIEN Vietnamese Language - Marketing Supervisor

78.

Brief Job Description: Identify, develop and implement new strategies for selling products or services.

TRAN HOANG PHONG Vietnamese Language- Support Supervisor 79.

Brief Job Description: Assist in planning & administration of the organization’s daily operation.

Basic Qualification: Must fluently speak and write Thai language to cater foreign markets.

84.

85.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Identifies issues and gaps in current processes or documents.

Basic Qualification: Must fluently speak and write Thai language. Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write Thai language.

Brief Job Description: Identifies issues and gaps in current processes or documents.

Salary Range: Php 30,000 - Php 59,999

ZHAO, DONGXU Mandarin Finance Manager 86.

Brief Job Description: The Mandarin finance manager will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

Basic Qualification: Proven experience as Mandarin finance manager, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999

SS COMMERCIAL, INC. Sew #5 Sanford Compound, Km. 14 Edison Avenue, Sun Valley, City Of Parañaque Basic Qualification: Proven track record of success in developing and executing marketing plans that drive revenue growth.

MAKHIJA, BHAVESH RAVI Marketing Development Manager 87.

Brief Job Description: Develop and execute market development plans to support the growth of assigned products/services in existing and new markets.

Salary Range: Php 30,000 - Php 59,999

MORDANI, GAURAV NARESH Purchasing Manager 88.

Basic Qualification: College graduate. With previous work experience in a similar capacity.

Brief Job Description: Design, plan and implement sourcing and purchasing strategies. Build and maintain relationships with suppliers and vendors. Work with suppliers, manufacturers and internal departments.

Salary Range: Php 30,000 - Php 59,999

UPGRADE ENERGY PHILIPPINES, INC. Unit 318-b 3/f Lri Design Plaza, 210 N. Garcia St., Bel-air, City Of Makati Basic Qualification: Business and Engineering graduate. With at least 10 years of relevant work experience in the renewal energy sector in the country. With demonstrable competency in strategic planning and business development, outstanding organizational, leadership, communications, conflict resolution and negotiation skills.

VANBUGGENHOUT, PIETERJAN HENDRIK L. Chief Operations Officer (COO) 89.

Brief Job Description: Designing and implementing business strategies, plans and procedures. Oversee daily operations of the company and the work of the different managers (Operations, Sales, EHS, Project Development).

Salary Range: Php 500,000 and above WINARO SUPPORT OPC Unit 1718 High Street South Corporate Plaza Tower 2, Bonifacio Global City, Fort Bonifacio, City Of Taguig Basic Qualification: Bachelor’s degree holder in Computer Programming, Computer Science or related fields.

DANG, VAN HIEP Back-end Developer 90.

Brief Job Description: Development of Major components or modules and contribute to the design and maintenance of the products.

Salary Range: Php 30,000 - Php 59,999

XSPACE SERVICE OFFICE INC. U-a&b 20/f Rufino Pacific Tower, 6784 Ayala Ave., San Lorenzo, City Of Makati Basic Qualification: Proven experience as Marketing Manager.

LI, HONGXU Marketing Manager 91.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write Vietnamese language to cater foreign markets.

Salary Range: Php 30,000 - Php 59,999

SNPDRI PHILIPPINES CORP. Unit 622 Bsa Twin Tower Bldg., J. Vargas, Wack-wack Greenhills, City Of Mandaluyong

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write Thai language to cater foreign markets.

Basic Qualification: Must fluently speak and write Thai language.

MANEEKAN, KAMONCHANOK Thai Language - Support Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Must fluently speak and write Bahasa Indonesian language to cater foreign markets.

Brief Job Description: Assist in planning & administration of the organization’s daily operation. WONGKUM, KANOKWAN Thai Language - Support Officer

Basic Qualification: College graduate. Possesses expertise in financial management and accounting operations, reporting and control.

PHOENIXFIELD, INC. 7/f Iacademy Plaza, 324 Sen. Gil Puyat Ave, Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999

NEW ORIENTAL CLUB88 CORPORATION 3rd, 5th, 6th, 7th, 8th, 9th & 10th/f Sapphire Seaview Park, Pacific Avenue, Don Galo, City Of Parañaque

HUANG, RONG Chinese Customer Service

BYUN (SPOUSE OF NAKAMURA), SANGYOON Head, Finance Operations

Brief Job Description: Assist in planning & administration of the organization’s daily operation. HONGBINMA, ATCHARAWAN Thai Language - Support Officer

Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: The Mandarin deputy project supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

Basic Qualification: Proven experience as Mandarin deputy project supervisor, familiarity, knowledge and awareness on machinery and heavy equipment used by company. Demonstrable experience in developing strategic business plan.

SMARTMONETA INC. 6/f Iacademy Plaza, 324 Sen Gil Puyat Ave., Bel-air, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: With relative work experience. Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Serves as primary contact for problem resolution and information gathering regarding customer complaints and work assignment.

FAN, LIANG Mandarin Deputy Project Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

Basic Qualification: A native speaker of Indonesian language and fluent in English language (spoken and written).

SINOMA CBMIPH CONSTRUCTION CORPORATION 37b Rufino Pacific Tower, Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

QUALIFICATION AND SALARY RANGE

YUMIKO Indonesian-language Customer Support Staff

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College Graduate. Preferably 1-year experience in a similar field, and speaks and writes fluently in their native language.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

RUNNINGMAN CORPORATION 8/f Techzone Bldg., 213 Sen. Gil Puyat Ave., San Antonio, City Of Makati

PEPSI-COLA PRODUCTS PHILIPPINES, INC. 26th Flr., Filinvest Axis Tower Two Bldg., Northgate Cyberzone, Fcc, Alabang, City Of Muntinlupa LAN, CHUNYAN Customer Service Representative

92.

Brief Job Description: Responsible for establishing and maintaining profitable relationships with the customers.

Salary Range: Php 30,000 - Php 59,999

CAI, JIANGJIE Operations Manager

Basic Qualification: Proven experience as Operations Manager.

Brief Job Description: Facilitate problem solving and collaboration with the client.

Salary Range: Php 30,000 - Php 59,999

*Date Generated: Dec 4, 2023

Basic Qualification: Must fluently speak and write Vietnamese language to cater foreign markets.

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication.

Salary Range: Php 30,000 - Php 59,999

Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

Basic Qualification: Must fluently speak and write Bahasa Indonesian language to cater foreign markets. Salary Range: Php 60,000 - Php 89,999

Tuesday, December 5, 2023

TheWorld BusinessMirror

Editor: Angel R. Calso • www.businessmirror.com.ph

Israel orders mass evacuations as it widens offensive; Palestinians have no place to go By Wafaa Shurafa & Samy Magdy

The Associated Press

EIR AL-BALAH, Gaza Strip— The Israeli military on Monday renewed its calls for mass evacuations from the southern town of Khan Younis, where tens of thousands of displaced Palestinians have sought refuge in recent weeks, as it widened its ground offensive and bombarded targets across the Gaza Strip.

The expanded offensive, following the collapse of a weeklong cease-fire, is aimed at eliminating Gaza’s Hamas rulers, whose October 7 attack into Israel triggered the deadliest Israeli-Palestinian violence in decades. The war has already killed thousands of Palestinians and displaced over three-fourths of the territory’s population of 2.3 million Palestinians, who are running out of safe places to go. Already under mounting pressure from its top ally, the United States, Israel appears to be racing to strike a death blow against Hamas—if that’s even possible, given the group’s deep roots in Palestinian society—before another cease-fire. But the mounting toll of the fighting, which Palestinian health officials say has killed several hundred civilians since the truce ended on Friday, further increases pressure to return to the

negotiating table. It could also render even larger parts of the isolated territory uninhabitable. The ground offensive has transformed much of the north, including large parts of Gaza City, into a rubble-filled wasteland. Hundreds of thousands of people have sought refuge in the south, which could meet the same fate, and both Israel and neighboring Egypt have refused to accept any refugees. Residents said they heard airstrikes and explosions in and around Khan Younis overnight and into Monday after the military dropped leaflets warning people to relocate further south toward the border with Egypt. In an Arabic language post on social media early Monday, the military again ordered the evacuation of nearly two-dozen neighborhoods in and around Khan Younis. Halima Abdel-R ahman, a

PALESTINIANS look for survivors of the Israeli bombardment of the Gaza Strip in Rafah on Sunday, December 3, 2023. AP/HATEM ALI

widow and mother of four, said she’s stopped heeding such orders. She fled her home in October to an area outside Khan Younis, where she stays with relatives. “The (Israeli) occupation tells you to go to this area, then they bomb it,” she said by phone on Sunday. “The reality is that no place is safe in Gaza. They kill people in the north. They kill people in the south.”

Rising toll

THE Health Ministry in Hamasrun Gaza said the death toll in the territory since October 7 has surpassed 15,500, with more than 41,000 wounded. The ministry does not differentiate between civilian and combatant deaths, but said 70 percent of the dead were women and children. A Health Ministry spokesman asserted that hundreds had been killed or wounded since the ceasefire ended early Friday. “The majority of victims are still under

3 commercial ships hit by missiles in Houthi attack in Red Sea, US warship downs 3 drones By Jon Gambrell

The Associated Press

UBAI, United Arab Emirates—Ballistic missiles fired by Yemen’s Houthi rebels struck three commercial ships Sunday in the Red Sea, while a US warship shot down three drones in self-defense during the hourslong assault, the US military said. The Iranian-backed Houthis claimed two of the attacks. The strikes marked an escalation in a series of maritime attacks in the Mideast linked to the Israel-Hamas war, as multiple vessels found themselves in the crosshairs of a single Houthi assault for the first time in the conflict. The US vowed to “consider all appropriate responses” in the wake of the attack, specifically calling out Iran, after tensions have been high for years now over Tehran’s rapidly advancing nuclear program. “These attacks represent a direct threat to international commerce and maritime security,” the US military’s Central Command said in a statement. “They have jeopardized the lives of international crews representing multiple countries around the world.” It added: “We also have every reason to believe that these attacks, while launched by the Houthis in Yemen, are fully enabled by Iran.” The attack began around 9:15 a.m. local time (0615 GMT) in Houthi-controlled Sanaa, Yemen’s capital, Central Command said. The USS Carney, a Navy destroyer, detected a ballistic missile fired from Houthi-controlled areas

of Yemen at the Bahamas-flagged bulk carrier Unity Explorer. The missile hit near the ship, the US said. Shortly afterward, the Carney shot down a drone headed its way, although it’s not clear if the destroyer was the target, Central Command said. About 30 minutes later, the Unity Explorer was hit by a missile. While responding to its distress call, the Carney shot down another incoming drone. Central Command said the Unity Explorer sustained minor damage from the missile. Two other commercial ships, the Panamanian-flagged bulk carriers Number 9 and Sophie II, were both struck by missiles. The Number 9 reported some damage but no casualties, and the Sophie II reported no significant damage, Central Command said. While sailing to assist the Sophie II around 4:30 p.m. local time (1330 GMT), the Carney shot down another drone heading in its direction. The drones did no damage. The Carney, an Arleigh Burkeclass guided-missile destroyer, has shot down multiple rockets the Houthis have fired toward Israel during that nation’s war against Hamas in the Gaza Strip. It hasn’t been damaged in any of the incidents and no injuries have been reported on board. The Defense Department initially described the assault as simply an attack on the Carney before providing more details. Houthi military spokesman Brig. Gen. Yahya Saree claimed two of Sunday’s attacks, saying the first vessel was hit by a missile and the

second by a drone while in the Bab el-Mandeb Strait, which links the Red Sea to the Gulf of Aden. Saree did not mention any US warship being involved. “The Yemeni armed forces continue to prevent Israeli ships from navigating the Red Sea (and Gulf of Aden) until the Israeli aggression against our steadfast brothers in the Gaza Strip stops,” Saree said. “The Yemeni armed forces renew their warning to all Israeli ships or those associated with Israelis that they will become a legitimate target if they violate what is stated in this statement.” Saree also identified the first vessel as the Unity Explorer, which is owned by a British firm that includes Dan David Ungar, who lives in Israel, as one of its officers. The Number 9 is linked to Bernhard Schulte Shipmanagement. The Sophie II’s owner, Kyowa Kisen of Imabari, Japan, told The Associated Press that the ship’s crew were safe and the vessel did not sustain serious damage. Managers for the two other ships could not be immediately reached for comment. Israeli media identified Ungar as being the son of Israeli shipping billionaire Abraham “Rami” Ungar. Iran has yet to directly address the attacks. However, Iranian Foreign Minister Hossein Amirabdollahian threatened “that if the current situation continues, the region will enter a new phase” over the IsraelHamas war. “All parties who are after igniting a war are warned, before it’s too late stop the killing of women and

the rubble,” Ashraf al-Qidra said. The Palestinian Civil Defense department said an Israeli strike early Monday killed three of its rescuers in Gaza City. The Palestinian Red Crescent rescue service said one of its volunteers was killed and an employee was wounded in a strike on a home in the urban Jabalia refugee camp, also in the north. An Associated Press reporter in the central town of Deir al-Balah heard shooting and the sound of tanks south of the line across which Palestinians from the north were told for weeks to evacuate, but there was no immediate visual confirmation. The military rarely comments on troop deployments. Hopes for another temporary truce faded after Israel called its negotiators home over the weekend. Hamas said talks on releasing more of the scores of hostages seized by Palestinian militants on October 7 must be tied to a permanent cease-fire. children, of which a new round has started,” Amirabdollahian said. Iran’s top diplomat described his comments as coming after conversations with “resistance forces” in the region—a description Tehran uses for the Shiite militias it backs, including groups in Iraq, the Houthis and Lebanon’s Hezbollah, as well as the Sunni fighters of Hamas. All have threatened or attacked Israel, Iran’s regional archrival, during the war. The Houthis have launched a series of attacks on vessels in the Red Sea, as well as launching drones and missiles targeting Israel. Analysts suggest the Houthis hope to shore up waning popular support after years of civil war in Yemen between it and Saudi-backed forces. The US has stopped short of saying its Navy ships were targeted, but has said Houthi drones have headed toward the ships and have been shot down in selfdefense. Washington so far has declined to directly respond to the attacks, as has Israel, whose military continues to try to describe the ships as not having links to their country. Global shipping had increasingly been targeted as the IsraelHamas war threatens to become a wider regional conflict—even as a truce briefly halted fighting and Hamas exchanged hostages for Palestinian prisoners held by Israel. However, the collapse of the truce and the resumption of punishing Israeli airstrikes on Gaza and a ground offensive there had raised the risk of more seaborne attacks. The Associated Press writers Tara Copp in Dallas, Lolita C. Baldor in Washington, Mari Yamaguchi in Tokyo and Dana Beltaji contributed to this report.

The earlier truce facilitated the release of 105 of the roughly 240 Israeli and foreign hostages taken to Gaza during the October 7 attack, and the release of 240 Palestinians imprisoned by Israel. Most of those released by both sides were women and children. The United States, along with Qatar and Egypt, which mediated the earlier cease-fire, say they are working on a longer truce. In the meantime, the US is pressing Israel to avoid more mass displacement and the killing of civilians, a message underscored by Vice President Kamala Harris during a visit to the region. She also said the US would not allow the forced relocation of Palestinians out of Gaza or the occupied West Bank, or the redrawing of Gaza’s borders. But it’s unclear how far the Biden administration is willing or able to go in pressing Israel to rein in the offensive, even as the White House faces growing pressure from its allies in Congress. The US has pledged unwavering support to Israel since the October 7 attack, which killed over 1,200 people, mostly civilians, including rushing munitions and other aid to Israel. Israel has rejected US suggestions that control over postwar Gaza be handed over to the internationally recognized Palestinian Authority ahead of renewed efforts to resolve the conflict by establishing a Palestinian state.

Gaza’s misery deepens

PALESTINIANS who used last week’s respite to stock up on food and other basics, and to try and bury their dead, are once again struggling to escape Israel’s aerial

bombardment. Outside a Gaza City hospital on Sunday, a dust-covered boy named Saaed Shehta dropped to his knees and kissed the bloodied body of his little brother Mohammad, one of several bodies laid out after people said their street was hit by airstrikes. “You bury me with him!” the boy cried. A health worker at Al-Ahli Baptist Hospital said more than 15 children were killed. Israel’s military said its fighter jets and helicopters struck targets in Gaza, including “tunnel shafts, command centers and weapons storage facilities.” It acknowledged “extensive aerial attacks in the Khan Younis area.” The bodies of 31 people killed in the bombardment of central Gaza were taken to the Al-Aqsa Martyrs’ Hospital in Deir alBalah on Sunday, said Omar alDarawi, a hospital administrative employee. Later, hospital workers reported 11 more dead after another airstrike. Israel says it does not target civilians and has taken measures to protect them, including its evacuation orders. In addition to leaf lets, the military has used phone calls and radio and TV broadcasts to urge people to move from specific areas. Israel says it targets Hamas operatives and blames civilian casualties on the militants, accusing them of operating in residential neighborhoods. It claims to have killed thousands of militants, without providing evidence. Israel says at least 81 of its soldiers have been killed. Magdy reported from Cairo.

France’s anti-terrorism prosecutor opens probe into the Paris killing of German-Filipino tourist By Elaine Ganley & Sylvie Corbet The Associated Press

ARIS—France’s anti-terrorism prosecutor said Sunday he has opened an investigation into the fatal stabbing of a 23-year-old German-Filipino tourist near the Eiffel Tower in Paris, allegedly by a man who had been under surveillance for suspected Islamic radicalization. Jean-Francois Ricard said in a news conference that suspect Armand RajabpourMiyandoab could face a preliminary charge of murder in connection with a terrorist enterprise. He said Rajabpour-Miyandoab is a French national who is being held in police custody. Rajabpour-Miyandoab recorded a video before the attack in which he swore allegiance to the Islamic State group and expressed support for Islamic extremists operating in various areas, including in Africa, Iraq, Syria, Egypt’s Sinai, Yemen, Iran and Pakistan, Ricard said. The video, in Arabic, was published on Rajabpour-Miyandoa’s account on X, formerly Twitter, where his recent posts included references to the Israel-Hamas war, the prosecutor said. It wasn’t immediately clear if RajabpourMiyandoab had legal representation. A message left Sunday with the prosecutor’s office seeking to locate him for comment was not immediately returned. Ricard said Rajabpour-Miyandoab was born in 1997 in Neuilly-Sur-Seine, outside Paris, in a family with no religious affiliation. He converted to Islam at the age of 18 and quickly adhered to Islamic extremist ideology, he said. In 2016, he had planned to join the Islamic State group in Syria. The same year, he was convicted and imprisoned for four years, until 2020, on a charge of planning violence. He was under psychiatric treatment

and was on a special list for feared radicals, the prosecutor confirmed. Since the end earlier this year of a probation period during which he received mandatory psychiatric care, Rajabpour-Miyandoab was placed under the surveillance of intelligence services, Ricard said. His mother had in October expressed “concerns” over her son isolating himself, but no evidence was found that could have led to criminal proceedings, he added. Three other people from RajabpourMiyandoab’s entourage and family have been detained by police for questioning, Ricard said. The apparently random attack near the Eiffel Tower on Saturday night has drawn special concern for the French capital less than a year before it hosts the Olympic Games, with the opening ceremony due to take place along the river in an unprecedented scenic start in the heart of Paris. In a sign of that concern, Prime Minister Elisabeth Borne called a meeting for Sunday evening with key ministers and officials charged with security for a “total review” of measures in place and the handling of the “most dangerous individuals,” her office said. After killing the tourist, the attacker crossed the bridge to the city’s Right Bank and injured two people, a British and a French national, with a hammer, authorities said. Ricard said both of them were able to get back home on Sunday. Video circulating on the Internet showed police officers, weapons drawn, cornering a man dressed in black, his face covered and what appeared to be a knife in his right hand. The suspect cried “Allahu Akbar” (God is great) and a police officer twice tasered the suspect before arresting him, authorities said. The Associated Press writers John Leicester in Paris and Frances D’Emilio in Rome contributed to this report.

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Biden’s allies in Senate demand that Israel limit civilian deaths in Gaza as Congress debates aid By Ellen Knickmeyer & Lisa Mascaro The Associated Press

A SHINGTON—A s a cease-fire ticked down last week and Israel prepared to resume its round-the-clock airstrikes, Sen. Bernie Sanders and a robust group of Democratic senators had a message for their president: They were done “asking nicely” for Israel to do more to reduce civilian casualties in Gaza. Lawmakers warned President Joe Biden’s national security team that planned US aid to Israel must be met with assurances of concrete steps from Israeli Prime Minister Benjamin Netanyahu’s hard-right government. “The truth is that if asking nicely worked, we wouldn’t be in the position we are today,” Sanders of Vermont said in a floor speech. It was time for the United States to use its “substantial leverage” with its ally, Sanders said. “And we all know what that leverage is,” he said, adding, “the blank-check approach must end.” With Biden’s request for a nearly $106 billion aid package for Ukraine, Israel and other national

security needs hanging in the balance, the senators’ tougher line on Israel has gotten the White House’s attention, and that of Israel. Lawmakers of both parties for decades have embraced the US role as Israel’s top protector, and it’s all but inconceivable that they would vote down the wartime aid. The Democratic lawmakers are adamant that’s not their intent, as strong supporters of Israel’s right of self-defense against Hamas. But just the fact that pressure is building—including from mainstream lawmakers, supporters of the Democratic president—shows the fractures in Congress as the aid debate drags on. Sanders and the Democratic senators involved say they are firm in their stand that Israel’s military must adopt substantive measures to lessen civilian deaths in Gaza as part of receiving the supplemental’s $14.3 billion in US aid for Israel’s war. The warning from friendly Democrats is a complication for the White House as it faces what had already been a challenging task of getting the supplemental aid bill through Congress. Some Republicans are balking at the part

of the bill that provides funding for Ukraine’s war against Russia, and the funding for Israel was supposed to be the easy part. The demand is a warning of more trouble ahead for an Israeli government that’s often at odds with the US in its treatment of Palestinians. “There’s a big difference between asking and getting a comm it ment ” f rom Net a ny a hu’s government on a plan to reduce civilian casualties and improve living conditions in Gaza, Maryland Democratic Sen. Chris Van Hollen told The Associated Press. Van Hollen has been one of the key senators huddling with administration officials on the demands. “So our goal is to achieve results,” Van Hollen said. “And not just set expectations.” Following the senators’ warning, the Biden administration has upped its own demands to Israel since late last week, insisting publicly for the first time that Israeli leaders not just hear out US demands to ease civilian suffering in Gaza, but agree to them. Over the weekend, as an end to the cease-fire brought the return of Israeli bombardment and Hamas rocket strikes, the Israeli

military said it had begun using one measure directed by the Biden administration: an online map of Gaza neighborhoods to tell civilians which crowded streets, neighborhoods and communities to evacuate before an Israeli attack. Heavy bombardment followed the evacuation orders, and Palestinians in the Gaza Strip said they were running out of places to go in the sealed-off territory. Many of its 2.3 million people are crammed into the south after Israel ordered civilians to leave the north in the early days of the war, which was sparked by the October 7 Hamas-led attack in Israel that killed about 1,200 people, mostly civilians. The health ministry in Hamasrun Gaza says more than 15,500 Palestinians have been killed, with 70 percent of them women and children. On social media, Sanders repeated his call for an end to blank checks for Israel as Israeli forces returned to heavy bombing after the cease-fire. While Secretary of State Antony Blinken said more measures were coming besides the online map, it wasn’t clear if any would lessen civilian deaths or satisfy administration

and lawmaker demands. Israel is the top recipient of US military aid over time. Trying to attach strings to US aid to Israel isn’t unheard of, for Congress or for US presidents. Ronald Reagan, for instance, repeatedly suspended or threatened suspensions of fighter jet deliveries to Israel over its military incursions in the region in the 1980s. This time, though, is notable since it is being discussed in a Democratic-controlled Senate. National security adviser Jake Sullivan and other White House officials huddled with the Senate Democrats over the warning. Israeli diplomats and military officials also rushed to stem such a move, hosting lawmakers for repeated viewings of video of Hamas atrocities on October 7 to make the case for the US military aid. Net a nya hu’s coa l it ion h a s weathered calls in the past from advocacy groups and individual lawmakers. Objections concerned Palestinian civilian deaths in past Israeli wars against Hamas. Biden from the start adopted what came to be called his “bearhug” approach to the Israeli leader—embracing him publicly, and

saving any US appeals for changed behavior for private discussions. But when Biden told reporters on November 24 he thought conditioning military aid to Israel was a “worthwhile thought,” it helped the proposal gain traction among administration-friendly Democratic senators. Sanders and the Democrats haven’t specified what form the conditions could take, as talks continue. Several Democratic senators contend no additional law is necessary. They say existing US law already mandates that countries receiving US military aid heed human rights concerns. Some Senate Democrats express dislike of the use of the term conditions and depict their action as more of a determination to influence an outcome. No matter what, “we’re going to do a robust aid package for Israel,” said Sen. Tim Kaine, a Virginia Democrat. “But it’s got to be consistent with humanitarian aid, and also efforts to reduce the suffering of Gazans who aren’t part of Hamas.”

The Associated Press writer Stephen Groves contributed.

11 bodies recovered after volcanic eruption in Indonesia, and 12 climbers still missing By Rahma Nurjana The Associated Press

IN this handout photo released by Armed Forces of the Philippines, Philippines BRP Jose Rizal (FF150), right, and USS Gabriel Giffords (LCS 10) during a tactical exercise between Philippines and the United States in the West Philippine Sea on November 23, 2023. The Chinese military said on December 4 that American naval ship USS Gabriel Giffords had “illegally intruded” on Monday into waters near the Second Thomas Shoal, the site of a hot territorial dispute between China and the Philippines in the South China Sea. ARMED FORCES OF THE PHILIPPINES VIA AP

US Navy ship ‘illegally intruded’ into the South China Sea–China

EIJING—The Chinese military said that an American naval ship had “illegally intruded” on Monday into waters near the Second Thomas Shoal, the site of a hot territorial dispute between China and the Philippines in the South China Sea. A Chinese naval force was mobilized to track the USS Gabrielle Giffords during the operation, according to a statement from the People’s Liberation Army Southern Theater. The US Navy did not respond immediately to a request for comment. Chinese and Philippine naval and coast guard ships have confronted each other repeatedly around the Second Thomas Shoal in recent months as China tries to prevent the Philippines from resupplying and repairing a rusting warship that it intentionally ran aground in 1999 to serve as a military outpost. Dwarfed by China’s military might, the Philippines has sought America’s help, agreeing to an expansion of the US military presence in the country earlier this year and launching joint sea and air patrols with the

United States late last month. China says the US is meddling in waters far from its shores and renewed its accusation that America is the one raising regional tensions following the sailing of the USS Giffords, a littoral combat ship designed to operate in coastal areas, near Second Thomas Shoal. “The US deliberately disrupted the situation in the South China Sea, seriously violated China’s sovereignty and security, seriously undermined regional peace and stability, and seriously violated international law and basic norms governing international relations, fully demonstrating that the US is the biggest threat to peace and stability in the South China Sea,” the statement from the Chinese military’s Southern Theater said. China has staked claim to virtually all of the reefs and other outcroppings in the South China Sea, building some into islands with runways that could be used by the military. Vietnam, Malaysia, Taiwan and Brunei also say they are the rightful owners of territory in the same waters in a complex web of overlapping claims. AP

ADANG, Indonesia—The bodies of 11 climbers were recovered Monday a day after a furious eruption of the Mount Marapi volcano as Indonesian rescuers searched for 12 apparently still missing. Marapi has stayed at the third highest of four alert levels since 2011, a level indicating above normal volcanic activity and prohibiting climbers or villagers within 3 kilometers (1.8 miles) of the peak, said Hendra Gunawan, the head of the Center for Volcanology and Geological Disaster Mitigation. “This means that there should be no climbing to the peak,” Gunawan said, adding that climbers were only allowed below the danger zone, “but sometimes many of them broke the rules to fulfill their satisfaction to climb further.” About 75 climbers had started their way up the nearly 2,900-meter

(9,480-foot) mountain on Saturday and became stranded. Eight of those rescued Sunday were rushed to hospitals with burns and one also had a broken limb, said Hari Agustian, an official at the local Search and Rescue Agency in Padang, the West Sumatra provincial capital. All of the climbers had registered at two command posts or online through West Sumatra’s conservation agency before they climbed, Agustian said. It was possible others took illegal roads or local residents were active in the area, but it couldn’t be confirmed, he said. Marapi spewed thick columns of ash as high as 3,000 meters (9,800 feet) in Sunday’s eruption and hot ash clouds spread several miles (kilometers). Nearby villages and towns were blanketed by tons of volcanic debris. Volcanic dust and rain smeared the faces and hair of evacuated climbers, according to video on social media. Falling ash blanketed several

villages and blocked sunlight, and authorities distributed masks and urged residents to wear eyeglasses to protect them from volcanic ash. About 1,400 people live on Marapi’s slopes in Rubai and Gobah Cumantiang, the nearest villages about 5 to 6 kilometers (3.1 to 3.7 miles) from the peak. Gunawan said that Sunday’s eruption was not preceded by a significant increase in volcanic earthquakes. Deep volcanic earthquakes were only recorded three times between November 16 and on Sunday, while the deformation equipment or tiltmeter on the peak showed a horizontal pattern on the radial axis and a slight inflation on the tangential axis. “This shows that the eruption process is taking place quickly and the center of pressure is very shallow, around the peak,” he said. Marapi has been observed regularly erupting since 2004 with a gap of 2 to 4 years, Gunawan said. “Marapi eruptions are always

sudden and difficult to detect using equipment because the source is near the surface,” Gunawan said, “This eruption was not caused by the movement of magma.” West Sumatra’s Search and Rescue Agency head Abdul Malik said rescuers found 11 bodies of climbers as they searched for those who still missing and rescued three others Monday morning. “The evacuation process of the bodies and survivors are still ongoing,” he said, adding that rescuers are still searching for 12 climbers reportedly still missing. Marapi has been active since a January eruption that caused no casualties. It is among more than 120 active volcanoes in Indonesia, which is prone to seismic upheaval due to its location on the Pacific “Ring of Fire,” an arc of volcanoes and fault lines encircling the Pacific Basin.

Karmini reported from Jakarta, Indonesia.

India’s ruling BJP wins 3 of 4 states in polls that pitted Modi’s party against Congress

EW DELHI—India’s ruling Hindu nationalist party won in three of four state elections, according to results released Sunday from a crucial vote that pitted the main opposition party against that of Prime Minister Narendra Modi before national polls next year. Modi’s Bharatiya Janata Party, or BJP, wrested control of Chhattisgarh and Rajasthan states from Indian National Congress and was reelected in Madhya Pradesh for a record fifth term, according to the election commission’s website. The Congress party comfortably won in Telangana state, which is ruled by the strong Telangana Rashtra Samithi, known for opposing BJP. Vote counting in a fifth state, Mizoram, is set for Monday where BJP’s regional ally, the Mizo National Front, is in power. The elections in the five states were held last month and more than 160 million people, or a sixth of India’s electorate, were eligible to vote. Polling in India is generally done in phases owing to the large population. Modi thanked voters for “their unwavering

support” in the states where his party was victorious. “The results in Chhattisgarh, Madhya Pradesh and Rajasthan indicate that the people of India are firmly with politics of good governance and development, which the @BJP4India stands for,” Modi wrote on X, formerly known as Twitter. Rahul Gandhi, the Congress leader, conceded defeat in the three states where his party lost. “The battle of ideology will continue,” he wrote on X, and thanked the people of Telangana where his party won. BJP workers celebrated, some danced wearing Modi masks, distributed sweets and smeared colors on each other’s faces as mark of jubilations. At the party headquarters in New Delhi, Modi walked among BJP activists who showered him with flower petals, chanting “Long live Mother India” and other slogans. In a speech, he said the results were “a victory for honesty, transparency and good governance.” Modi and his party remain popular on a national level after nearly a decade in power and surveys suggest he will win a third

consecutive term in 2024. But a new alliance of 28 opposition parties, called INDIA, is expected to challenge Modi’s party nationally. The acronym, which stands for Indian National Developmental Inclusive Alliance, comprises India’s previously fractured opposition parties

and is led by the Congress party. Both Modi and Gandhi flew across the five states to woo voters before the election. The charged-up voting campaigns witnessed both leaders promising voters subsidies, loan waivers and employment guarantees. AP

A10 Tuesday, December 5, 2023 • Editor: Angel R. Calso

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editorial Prison decongestion opens the door for rehabilitation

ore than 131,000 Filipinos woke up this morning in cramped conditions behind bars. In polite language, these are persons deprived of liberty (PDLs), languishing in the country’s 477 jails. They are not all criminals. According to a Commission on Audit report, 89 percent of PDLs are undergoing or awaiting trial, or awaiting final judgment. The delay in court decisions contributes to the rise in PDL population.

This slow action from the courts is caused by the “lack of judges, postponement of hearings, and slow disposition of criminal cases that carry the penalty of reclusion perpetua or life imprisonment,” the state auditor said. “Likewise, qualified detainees who are from below the poverty line and cannot afford to post bail have to remain in jail,” COA said. Pre-trial prisoners should be presumed innocent until proven guilty by a court of law, and special privileges should be provided to them, reflecting their non-convicted status, according to international law. That’s not the case in our prison system. More than 116,000 pre-trial inmates are competing for jail space with convicted criminals. In its 2022 audit report on the Bureau of Jail Management and Penology (BJMP), COA noted that the average congestion rate in prison facilities is 367 percent, which creates inhumane conditions for PDLs. BJMP personnel could hardly cope with the current overcrowding in prisons that leads to deteriorating living conditions for inmates. Republic Act 10575 provides that the custodial ratio (or ratio of jail personnel to PDLs) should be one to seven. But now it hovers around one to 100 or more. The level of overcrowding is so acute that prisoners are forced to sleep in shifts, sleep on top of each other, or tie themselves to window bars so that they can sleep while standing. The good news is that the Marcos administration, in cooperation with the Supreme Court and various stakeholders, is spearheading a jail decongestion summit to come up with comprehensive analysis of the country’s penal system and address the prison congestion problem. Justice Assistance Secretary Jose Dominic Clavano said among those who will join the December 6 to 7 summit are representatives from the Department of the Interior and Local Government (DILG), Department of Justice (DOJ), Supreme Court, and other stakeholders. From penalreform.org: “Overcrowding is a consequence of criminal justice policy not of rising crime rates, and undermines the ability of prison systems to meet basic human needs, such as health care, food, and accommodation. It also compromises the provision and effectiveness of rehabilitation programs, educational and vocational training, and recreational activities. The excessive use of pre-trial detention, and the use of prison for minor, petty offenses are critical drivers of prison population rates.” The country’s overcrowded prisons shine a harsh light on the government’s failure to address the problem for decades. We commend the Marcos administration for organizing a jail decongestion summit that, hopefully, will finally address the prison congestion problem. However, if we want a solution with a huge and immediate impact, we should stop the excessive use of pre-trial detention. The COA report said 89 percent of PDLs are undergoing or awaiting trial. This means more than 116,000 Filipinos are in jail because they don’t have enough money to post bail. If we can’t increase the prison system’s capacity, let’s reduce the high rates of pre-trial detention by improving access to justice. The prison system should serve to both punish and rehabilitate people who end up in jail. The United Nations said penitentiaries around the globe are striving to effect change by providing inmates with opportunities during their sentence, so that they can more easily be reintegrated into society and become, once again, active members of their communities. If we succeed in decongesting our overcrowded prisons, there’s a better chance for us to rehabilitate our PDLs. Sadly, the prevailing situation dehumanizes incarcerated Filipinos. “The king will accept into the kingdom those who visited the imprisoned” (Matthew 25:36). God wants our lives to overflow with mercy, love, and compassion—the marks of His kingdom. How we treat the marginalized and powerless is what matters to God, and prisoners were seen as “the least” among those in society. The least we can do is to respect the dignity of our PDLs. Prison decongestion opens the door for rehabilitation, which is the best way to ensure that when PDLs leave prison, they don’t come back.

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he month of December usually bestows hope and cheer among Filipinos who celebrate what is probably the longest Christmas season in the world.

From an economic standpoint, this month also has the biggest contribution to the gross domestic product because of the pent-up demand for goods and services, made possible by increased income and bonuses, higher remittances from overseas Filipinos and bountiful harvests. I sincerely believe that the buzzing business activities in the fourth quarter, especially in December, will make up for the lag in economic growth in the early parts of 2023. I share the government’s optimism that the low end of the gross domestic product growth target range of 6 percent to 7 percent remains within reach. To achieve that, we need to a register a growth of at least 7.2 percent in the fourth quarter, following the average expansion of 5.5 percent in the first three quarters. The 5.5-percent growth in the first three quarters, however, is not something we should be concerned about, given the challenging global environment when it was achieved. The economy did not “underperform”—it in fact exceeded the expectations of many analysts. Remember that supply chain

issues triggered hyperinflation in many countries, forcing central banks to bump up interest rates. Here, the Bangko Sentral ng Pilipinas raised its benchmark interest rate by a total of 450 basis points from just 2.0 percent in May 2020 to 6.50 percent today. Yet, we continue to thrive in this environment. Other countries are not as fortunate. GlobalData Plc., a London-based data analytics company, predicts the global real GDP growth would reach only 2.4 percent in 2023 and 2.0 percent in 2024 amid inflation concerns from rising energy prices and escalating geopolitical crises. Its 2023 growth forecast for Asia Pacific region is 3.7 percent, faster than 2.1 percent for the Americas and 0.9 percent for Europe. Per GlobalData’s analysis, geopolitical tensions, subdued demand and stringent monetary policies pose challenges to global trade. Thus, we should be cheerful about how the Philippine economy is performing in this environment. The government is doing its part by hiking public investments in infrastruc-

ture and social services, while wooing more foreign companies to invest in the country. With inflation on a downtrend and the foreign exchange rate stabilizing at around P55.5 per $1, companies are now more confident in placing their money in the local market. If there is predictability in the market, enhanced by positive economic outlook, the private sector will be encouraged to bet on the Philippines. W hat also drives economic growth in the Philippines is the growing labor force of young Filipinos who fuel household spending and support demand for goods and services. Together, our spending prowess has been on the rise since the height of the pandemic in 2020 and 2021. S&P Global, one of the major credit rating agencies, forecasts that the GDP per capita in the Philippines will reach about $3,903 in 2023 and rise to $4,273 by 2024. “Real GDP per capita growth could average about 4.4 percent per year over 2023-2026,” it says. Our economic managers expect the Philippines to join the ranks of upper middle-income nations by 2025. S&P Global Market Intelligence looks further ahead, saying the Philippines is on its way to becoming a one-trillion-dollar economy within a decade. The Asean+3 Macroeconomic Research Office (AMRO), an organization that watches the 10 members of the Association of Southeast Asian Nations (Asean), along with China, Japan and Korea, says economic recovery in the Philippines is expected

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Chairman of the Board President Advertising Sales Manager Group Circulation Manager

Cheery December

John Mangun

OUTSIDE THE BOX

llow me to share a story of advancing technology. The ice trade was an immensely profitable industry, flourishing primarily in the 19th and early 20th centuries. The ice was “harvested” from natural sources such as ponds and streams and was transported globally using railroads and ships. A strategic network of ice wagons finished the final distribution of this valued commodity. The roots of this industry started in 1806 when Frederic Tudor, eventually known as the Ice King, pioneered the trade in the New England area of the US by shipping ice to his wealthy clientele on Caribbean island of Martinique, later expanding to Cuba. Thirty years later he was shipping nearly 12,000 tons of ice, covering

the southern US, and extending his reach to destinations as far away as India, Australia, China, and South America. During the peak of the ice trade, this business sector employed an amazing 90,000 individuals and relied on the labor of 25,000 horses in the US alone. The demand for ice

Don’t misunderstand me. I want to and will own a “Tesla Model X Deep Blue Metallic with AllWheel Drive and Seven Seats” The future of the personal automobile is the EV. But that future is not yet here in the Philippines.

experienced a notable surge during World War I. However, after the war, the ice trade experienced a steep decline with the introduction of refrigeration systems. By the 1930s, modern refrigerators started gaining acceptance in homes, and by the 1950s, they had become nearly universal in both city and rural settings, writing the extinction of the once-thriving ice trade. After the refrigerator came home freezers, introduced in 1940. In 1955 the domestic deep freezer, which was cold enough to allow the owners to freeze fresh food themselves rather

to remain robust amid high inflation and weaker external demand. AMRO says despite weaker external demand, the growth momentum is expected to be sustained by resilient household consumption reflecting an improving labor market, lower inflation, robust overseas remittances and higher government infrastructure spending. S&P Global also expressed confidence on the potential of the Philippines, when it affirmed the country’s (‘BBB+’) long-term and (‘A-2’) shortterm sovereign credit ratings with a stable outlook. “The stable outlook reflects our expectation that the Philippine economy will maintain healthy growth rates and the fiscal performance will materially improve over the next 24 months,” S&P Global says in its latest country report. S&P Global believes while slower growth in China and the US will drag down domestic growth, the performance of the Philippines should be well above the average for peers at a similar level of development, on a 10-year weighted average per capita basis. “The country has a diversified economy with a strong record of high and stable growth. This reflects supportive policy dynamics and an improving investment climate,” it says. Based on these statements from international organizations that dutifully monitor global economic prospects, I am confident that we have enough reasons to be cheerful about this month and in the coming years. For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph

than buying food that was already frozen. Refrigerator ownership in various nations: In Africa—Algeria and Egypt, 99 percent; Uganda, 6 percent; and Kenya, 11 percent. Mexico has 61 percent ownership, with Cuba at 86 percent. There is a ref in 86 percent of Vietnamese homes, and 93 percent in Thailand; but only 67 percent of Indonesian homes, and about 60 percent in the Philippines. Cost is not the most important consideration for refrigerator ownership. Across the globe, particularly in less-developed nations, the primary issue is the reliable availability of electricity and its cost as a factor for buying even the least expensive refrigerator. September 26, 2023: “Tembo E-LV BV is pleased to announce that it has signed a joint venture agreement with Francisco Motor Corp, the pioneering manufacturers of the iconic jeepneys in the Philippines, which are See “Mangun,” A11

www.news.businessmirror@gmail.com

Modi’s resounding state polls win fuels India market rally

Opinion BusinessMirror

Pillar Two: Where are we now?

little more than a year ago in my article “OECD’s Pillar Two and the Tax Incentives in the Philippines,” we took a peek at what Pillar Two, or the global minimum corporate tax, is all about and how it can affect domestic subsidiaries of multinational entities.

Actual implementation by the Philippines of Pillar Two may be for a while if we will consider the pace of our recent tax law amendments as a yardstick. Nonetheless, due to the extraterritorial nature of Pillar Two, domestic corporations with parents in foreign countries may already be affected by Pillar Two notwithstanding the lack of actual implementation by our very own tax authorities.

Among our biggest foreign investors, Japan, Singapore, and the United Kingdom already have various implementation dates for Pillar Two. On the other hand, other Asean members like Indonesia, Malaysia, and Thailand have also joined the bandwagon and have made announcements on their respective plans and dates of implementation of Pillar Two. With several countries already eyeing the implementation of Pillar Two by 2024, are our domestic corporations ready? What are some of the practical concerns that must be considered? For one, corporations must thoroughly familiarize themselves with Pillar Two and its components. This is because Pillar Two is not as simple as imposing the global minimum corporate tax of 15 percent. Far from it. Pillar Two is actually composed of several independent model rules that

work together to effectively impose the global minimum corporate tax. These rules include the “Income Inclusion Rule” wherein the global minimum corporate tax is paid at the level of the parent entity in proportion to its ownership interests in those entities that have low taxed income. Another rule is the “Undertaxed Payments Rule” wherein a taxpayer who is a member of a multinational group is allowed to make an adjustment in respect of any top-up tax that is allocated to that taxpayer from a low-tax constituent entity of the same group. Lastly, the Qualified Domestic Minimum Top-up Tax Rule allows for the imposition of a domestic minimum tax that applies to local constituent entities of covered multinational entities and produces outcomes that are consistent with the Global Anti-Base Erosion rules. That is a lot to take in, I know. And that is why domestic entities must start educating their officers

Atty. Jomel N. Manaig

Tax Law for Business

By Swati Gupta & Abhishek Vishnoi

rime Minister Narendra Modi’s victories in three crucial state elections strengthened his party’s position before nationwide polls next year, driving up India’s equity benchmark to a new record high. Modi’s Bharatiya Janata Party won a majority of the legislature seats in three states predominantly in the populous, northern and central Hindi-speaking heartland of the country, results on Sunday showed. The ruling party unseated the main opposition, the Indian National Congres, in two of the states. The dominance of the BJP at the polls will give the party momentum as it gears up for general elections in 2024, where Modi is widely expected to extend his decade in office by another five years. Investors say the state results remove an element of political risk and signals continuity in government policy. There will be even greater confidence that “Modi will carry the day in the next national elections and that the current market friendly policies of the government will be maintained and built upon,” said Gary Dugan, chief investment officer at Dalma Capital Management Ltd. India’s S&P BSE Sensex Index rose as much as 1.6 percent in early trading on Monday to mark another record high. Indexes carrying infrastructure-related stocks from power producers to capital goods makers and banks rose more than 2 percent each to become top gainers among BSE’s Ltd.’s sub-gauges. Stocks tied to ports-to-power conglomerate Adani Group, which has been closely associated with Modi’s nation-building efforts, also surged. The flagship Adani Enterprises Ltd. jumped as much as 10 percent to the highest since September 12, while Adani Green Energy Ltd. and Adani Energy Solutions Ltd. rose more than 14 percent each. The BJP retained power in Madhya Pradesh, a central state with 56 million voters, and wrested control of Rajasthan and Chhattisgarh from the Congress party. The results were better than exit polls had predicted. Addressing BJP workers in New Delhi on Sunday, Modi said the election results would “strengthen the world’s faith in India’s development” and “give new faith to the world’s investors.” The Congress party, led by Rahul Gandhi, was able to flip the southern Indian state of Telangana, which had been governed by a regional party for two consecutive terms. Counting in the small northeastern state

Mangun. . .

Continued from A10

primarily used for public transportation. Tembo will develop and supply electric utility vehicle electrification kits for a new generation of electric jeepneys.” That is good. “Francisco Motors said they are set to present a 10-year, $10-billion plan for jeepney modernization that they intend to enroll for the third slot of the Comprehensive Automotive Resurgence Strategy (CARS). If found eligible, CARS will also fund 40 percent of the capex, which would cut the production cost, according to Francisco”. Incentives may be equivalent to P200,000 per unit. Also good. But here may be a problem—“May 19, 2023: The Asian Development Bank reports that according to the Philippines’ Department of Energy, there are an estimated 9,000 EVs and three hundred charging stations in the Philippines.” Companies like Ayala Corp. are anxious to get into building the necessary EV Ecosystem to expand the limited charging stations in the country. But that is only one piece of the EV puzzle. While it makes the front page

The dominance of the BJP at the polls will give the party momentum as it gears up for general elections in 2024, where Modi is widely expected to extend his decade in office by another five years. Investors say the state results remove an element of political risk and signals continuity in government policy. of Mizoram, where regional parties dominate, began on Monday.

Welfare policies

Modi and the BJP’s election plank going into next year will likely center around consolidating the country’s vast Hindu vote, and to highlight popular welfare and development policies that have been championed by the party. India is the fastest growing major economy in the world, and the BJP has sought to cast Modi as a globally important leader who has raised India’s international stature, an approach that plays well with the party’s Hindu nationalist base. “The BJP’s policies are a mix of efficient policy implementation that helps in consolidation of votes” said Shumita Deveshwar, chief India economist at GlobalData.TS Lombard, pointing to popular policies such as a cash handout scheme for women in Madhya Pradesh. “This helps overcome factors such as inflation, sluggish job creation and antiincumbency that would otherwise have hurt the BJP.” Kapil Gupta, an economist at Nuvama Wealth Management, said the election results would ease political risk and boost market sentiment. “This lessens the risk of a populist turn and bodes well for continued government capex,” Gupta said. The Congress party will now need to regroup with other opposition groups to figure out how to fight Modi in the upcoming national elections. Opposition parties had pledged to form an alliance to unseat the BJP by setting aside their differences and projecting a united front. Gandhi has positioned himself as Modi’s main challenger, but apart from the wins in two southern states, his party has struggled to peel voters away from the BJP. With assistance from Eltaf Najafizada and Dan Strumpf /Bloomberg

with great pictures—and EV fires are much less frequent than with conventional vehicles—these fires are almost impossible to extinguish. Wall Street Journal, November 8, 2023: “Firefighters called to extinguish an electric-vehicle fire are discovering the surest approach is to stand back and watch it burn.” The only EV charging station I see all the time is on the fourth-floor parking at SMBF mall. I wonder if SM has a contingency plan for and after an EV fire at that structure. Further, regardless of Francisco Motors’ optimism about entering the EV space, “Consumer Reports found that electric vehicles have almost 80 percent more problems and are “generally less reliable” than conventional internal combustion engine cars.” Don’t misunderstand me. I want to and will own a “Tesla Model X Deep Blue Metallic with All-Wheel Drive and Seven Seats.” The future of the personal automobile is the EV. But that future is not yet here in the Philippines. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Tuesday, December 5, 2023 A11

From then on, we have made some progress in amending our tax laws. For better or for worse, none of these even comes close to touching Pillar Two. However, all that may soon change. In October 2023, it was announced that the Philippines joined the OECD/G-20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS). It means that the country will be participating in the implementation of the BEPS measures, which include Pillar Two. Actual implementation by the Philippines of Pillar Two may be for a while if we will consider the pace of our recent tax law amendments as a yardstick. Nonetheless, due to the extraterritorial nature of Pillar Two, domestic corporations with parents in foreign countries may already be affected by Pillar Two notwithstanding the lack of actual implementation by our very own tax authorities.

and personnel. Pillar Two is a complicated subject and it cannot be taught and understood overnight. Another practical concern that domestic corporations must face is the actual computation of the jurisdictional excess profit. If a domestic corporation has a foreign parent that is subject to Pillar Two, that foreign entity would most likely require the domestic corporation to compute its jurisdictional excess profit. The foreign parent would then use this data to compute for any top-up tax. While the computation may be subject to a threshold for error, accuracy is still a paramount consideration. How can one be accurate in computing the jurisdictional excess profit if he/she does not know how to compute it in the first place? Domestic corporations should start thinking about their plans to cope with Pillar Two requirements. Whether they consult their foreign parents for guidance or start planning on their own, the time to act is now. The author is a junior partner of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at jomel.manaig@ bdblaw.com.ph or call 8403-2001 local 380.

What banks really mean when they put trillions into ESG By Alastair Marsh & Greg Ritchie

N recent years, many of the world’s biggest banks have published reports chronicling the vast sums they say they’re channeling into environmental and social activities. Now, senior people inside the industry are raising questions about those statements. Banks including Morgan Stanley, HSBC Holdings Plc, Goldman Sachs Group Inc. and JPMorgan Chase & Co. have announced individual sustainable finance targets for 2030 that range from $750 billion to $2.5 trillion. Yet such statements leave investors with little real insight into the very different ways in which banks are defining what’s sustainable, according to senior bankers familiar with how the figures were compiled but who asked not to be identified discussing private deliberations. The differences in accounting range from how banks treat mergers and acquisitions and debt underwriting to how they calculate revenue from market making, private equity investing, money-market funds, private banking, mortgages and revolving credit facilities, the people said. Emily Farrimond, a partner at London-based consultancy Baringa Partners LLP, said the absence of a consistent methodology “can impact the credibility of the entire market, raising fears of greenwashing.” And Greg Brown, a partner in the banking practice of law firm Allen & Overy, points to the lack of “a law or regulation” to steer the industry. As a result, deciding what to call “sustainable” in bank reports is “kind of up for grabs,” Brown said. Banks’ contribution to the energy transition will be the subject of keen debate in Dubai on Monday, as discussions at the UN climate talks turn to the vast sums needed to decarbonize industry and protect exposed communities. According to provisional figures, COP28 will host significantly more bankers and investment managers than any previous Conference of the Parties. Banks first started publishing sustainable finance goals a few years after the 2015 Paris climate agreement. By 2021, the role of finance in creating a greener, fairer planet was a growing part of the public debate, leading an ever greater number of lenders to produce such targets. But in the absence of regulations, banks have been free to set their own parameters for defining what counts as a sustainable or climate-transition investment.

Among the most contentious claims are those within the field of M&A, according to one European senior banker close to the matter who asked not to be named discussing sensitive information. Some of the biggest banks in the UK, including Barclays Plc and HSBC, don’t include M&A in their sustainable finance targets even if a deal has elements of ESG, representatives for the banks told Bloomberg. On the other side of the Atlantic, it’s a different story. Goldman, JPMorgan, Morgan Stanley, Citigroup Inc. and Bank of America Corp. count M&A deals in their sustainable finance targets. However, some of the banks include whole deal values instead of just their pro-rata share or the fees earned, according to people familiar with the matter. Spokespeople for the UK’s Financial Conduct Authority and the US Securities and Exchange Commission declined to comment. M&A shouldn’t be included in sustainable finance targets because the sheer size of such transactions often means their “inclusion can skew achievement of targets in a way that other advisory services wouldn’t,” said Farrimond, who advises banks and asset managers on ESG strategies. ShareAction, a UK-based nonprofit known for pushing climatechange resolutions at banks including HSBC and Barclays, is increasingly calling out lenders that list activities such as M&A, arguing that these don’t “result in the allocation or facilitation of capital.” While services such as foreign exchange hedging or M&A advisory can play a role in the low-carbon transition, they shouldn’t be included in sustainable finance targets because they don’t “cover actual financing,” said Xavier Lerin, senior research manager at ShareAction. A representative for Morgan Stanley, which in August said it was 70 percent of the way toward reaching the $1 trillion in sustainable financing it’s told investors it will achieve by 2030, declined to comment beyond referring to the bank’s latest environmental, social and gover-

For banks wondering what the best practice is to reassure investors that they aren’t inflating their numbers, “the general principle should be for conservatism,” said Lee of WRI. That means only including “financing that really goes into capital investments in the real economy.”

nance report. A spokesperson for Goldman Sachs, which in April said it was more than halfway toward reaching its $750 billion sustainable finance goal, said banks “differ in their targets, business size and mix.” Goldman, which ranks as the world’s leading M&A adviser, has an approach that reflects its “expertise and capabilities,” and that is “rigorous and thoughtful,” the spokesperson said. Representatives for Citigroup, BofA and Barclays declined to comment. An HSBC spokesperson said that in the absence of regulations, the bank is trying to apply what it views as “market standards.” The UK lender, which has compiled its own sustainable finance and investment data dictionary, has said it’s made “good progress” toward reaching a 2030 sustainable finance goal of between $750 billion and $1 trillion. JPMorgan, which recently published an update on its 2030 sustainable finance target of $2.5 trillion, only includes deals on which it acted as an adviser if there’s a clear sustainability justification for doing so, according to Ramaswamy Variankaval, global head of corporate advisory and sustainable solutions at the bank. Then there’s the issue of how banks account for their capital markets activities. Anderson Lee is a researcher at the World Resources Institute, which has been examining sustainable finance statements since 2019. He said WRI’s work shows that most banks call debt underwriting “sustainable finance” when they arrange deals that are judged to have an ESG component, but they don’t account for the emissions of deals arranged for fossil-fuel clients. It’s “cherry picking,” he said. Another area in which there’s significant divergence among banks is the extent to which they book ESG debt products. Sustainability-linked loans, a

$1.5 trillion unregulated market, aren’t included in the sustainable finance targets of JPMorgan, according to Variankaval. There is “a variety of judgment questions that people can ask about how ambitious or how aggressive” the so-called key performance indicators on sustainability-linked loans are, he said. JPMorgan is the world’s largest arranger of SLL deals after BofA, according to data compiled by Bloomberg. ING Groep NV, which pioneered the SLL market back in 2017, includes all sustainability-linked loans it helps arrange, according to information available on its website. “Our approach is, either it deserves the sustainability-linked label or it doesn’t,” said Jacomijn Vels, ING’s global head of sustainable finance. “And only if it fits our standard for the label will it be included in volume mobilized.” Other big banks only include some SLL transactions, according to representatives from the firms who asked not to be identified discussing non-public information. Banks also differ in how they account for investments, with some counting new inflows and others tallying assets under management. They also diverge on derivatives. Such products can come in the form of currency hedges related to deals that claim to have an element of sustainability, or as sustainabilitylinked derivatives (SLDs), ESG credit-default swaps, exchange-traded derivatives on listed ESG-linked equity indexes, as well as emissionstrading derivatives, according to the International Swaps and Derivatives Association. Some banks, including Barclays and BofA, don’t include any of these in their sustainable finance targets. But others do. On its website, ING says it includes the full notional amount of the SLDs it structures. To prevent double counting, ING says it then excludes sustainable derivatives that are being used to hedge sustainability-linked loans already included in the bank’s sustainable finance target. The sustainability-linked label can be attached to any financial products including derivatives, since it’s all about the targets and the incentives, according to an ING spokesperson. If a sustainability-linked derivative is structured on a normal loan, ING does take that into account, the person said. Bloomberg

A12 Tuesday, December 5, 2023

AS CYBER ATTACKS RISE, APAC COPES WITH I.T. EXPERTS LACK By Lorenz S. Marasigan @lorenzmarasigan

ASPERSKY expects a significant shift in cybersecurity strategy in the region, as more than half of organizations in the Asia Pacific (APAC) plan to “outsource their cybersecurity operations.” According to Kaspersky’s latest report, this decision comes in the wake of an alarming surge in cyberattacks, with 77 percent of companies in the region experiencing at least one cyber incident in the past two years. The study, which sought insights from IT security professionals across various industries, highlights a critical shortage of qualified IT security staff, prompting 57 percent of businesses to consider outsourcing their cybersecurity needs within the next 12 to 18 months. Additionally, 87 percent of these incidents were classified as “serious,” underscoring the pressing need for robust cybersecurity measures. “Businesses in APAC have been battling shortage in local cybersecurity professionals for years now. In fact, in 2022, it’s reported that the region needs 2.1 million more security staff to meet the demand. Clearly, the result of our recent study put a definite number on how this gap can take a toll on enterprise security,” Adrian Hia, Managing Director for Asia Pacific at Kaspersky, said.

He added: “For our part, we’ve been proactively fostering mutual partnerships with universities, governments, and non-government organizations here with the shared goal of building a country’s cybersecurity capability as well as to help develop the local cybersecurity talent pool in APAC.” The survey also revealed that companies are not only looking to outsource but also to invest in automation of cybersecurity processes. Over the next year, 51 percent of businesses plan to implement software that automatically manages their cybersecurity, with 15 percent currently discussing this option. Meanwhile, Kaspersky VP of Corporate Products Ivan Vassunov highlighted the benefits of automation and outsourcing, saying that it “is the optimal solution for many.” “These approaches help organizations struggling with expert shortages and alert fatigue. Managed Service Providers and Managed Security Service Providers offer the necessary expertise and tools to manage cybersecurity effectively.” Kaspersky recommends several strategies to address the cybersecurity challenges, including leveraging managed security providers, implementing professional services to optimize IT department workloads, and investing in training for current IT security specialists.

ADB sets $10B in climate financing for PHL in ’24-’29

By Cai U. Ordinario

@caiordinario

HE Philippines is set to receive $10 billion from the Asian Development Bank (ADB) as climate financing between 2024 and 2029. In a statement on Monday, ADB President Masatsugu Asakawa said the financing will help the Philippines implement its commitments to climate action under the Paris Agreement. ADB noted that the Philippines is among the countries most vulnerable to the impacts of climate change. The Global Climate Risk Index ranked the Philippines fourth in terms of countries most affected by extreme weather globally from 2000 to 2019. “I am pleased to announce that ADB will program $10 billion in climate finance for the Philippines under the new country program we are

developing with the government. ADB will also continue efforts to mobilize additional climate finance from the private sector, cofinancing partners, and other sources,” Asakawa said in the event, “Investing in a Better Tomorrow: Harnessing Financing Coalitions for Accelerating Climate Finance” in Dubai. ADB is currently preparing its country partnership strategy for the Philippines, 2024–2029, which will prioritize climate action and promote inclusive growth. Under the new strategy, ADB will support low-carbon transport, renewable energy, the development of carbon markets, flood manage-

ASAKAWA

ment, resilient coastal development, food security, and adaptive health and social protection. ADB noted that poorer households are disproportionately affected, especially in urban areas with less infrastructure, and along the country’s vast coastal areas. The Manila-based multilateral development bank said its climate finance in the Philippines will help improve the climate resilience of communities, ecosystems, and the

economy. “The battle against climate change will be won or lost in Asia and the Pacific and nowhere is this more evident than in the Philippines,” Asakawa said. ADB has been a longstanding partner of the Philippines on climate change. ADB’s first dedicated climate policy-based loan under its Climate Change Action Program, Subprogram 1, drove key reforms aligned with the government’s nationally determined contribution, which is its commitment to help advance global efforts to stabilize the world’s climate. Further, ADB has been instrumental in supporting f lagship climate investments through its Infrastructure Preparation and Innovation Facility since 2017. Two significant projects approved this year, the Davao Public Transport Modernization Project and the Integrated Flood Resilience and Adaptation Project – Phase 1, highlight ADB’s commitment to sustainable solutions for climate change mitigation and adaptation in the Philippines.

Marriage of under-15’s still happens–PSA data

ILIPINO girls and boys below 15 years old continued to marry in 2022, the year the Philippines raised the age of consent to 16 years old, according to the latest data released by the Philippine Statistics Authority (PSA). Based on the registered marriages data in 2022, there were 31 girls and four boys under the age of 15 who were married. The Bangsamoro region accounted for most of these children’s marriages. In March 2022, former President Duterte signed into law Republic Act No. 116481 which amended the Anti-Rape Act of 1997. The law states that sexual intercourse with a person under 16 years old would be deemed statutory rape. “This is a concern especially in the Bangsamoro Autonomous Reg ion in Muslim Mindanao (BARMM). (This is because in that region) once girls start menarche, they can already get married and have children,” CPD Executive Director Lisa Grace S. Bersales told BusinessMirror. “CPD (Commission on Population Development) as Popcom already did work with BARMM (through) knowledge sharing with Indonesia, also a Muslim country. Some imams have become champions. (But we admit that) the impact has been slow,” she added. Bersales said through these kinds of programs, the country would have a better chance of reducing these kimds of marriages among young Filipinos. “It is possible (that we will see an improvement in the data) plus we already have a law prohibiting child marriage which BARMM is also expected to comply with,” Bersales said. Among the 31 girls, PSA data showed 15 were married in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) while eight were married in Mimaropa, specifically Palawan; three in Soccskargen; two in the Zamboanga Peninsula; and one each in Cala-

barzon, Northern Mindanao, and Davao Region. Of the 15 girls married in BARMM, eight were married in Maguindanao; three in Basilan; two in Sulu; and one each in Lanao del Sur and Tawi-Tawi. PSA data showed that of the eight underage girls married in Palawan, three each were married in Brooke’s Point and Narra and two were married in Quezon. In terms of the four boys, all were married in the BARMM. Two were married in Maguindanao, one in Ampatuan and one in Sultan sa Barongis (Lambayong). One was married in Lanao Del Sur, specifically, Lumba-Bayabao (Maguing) and another one was married in Sulu, specifically in Omar. Meanwhile, PSA data showed out of the 31 girls married in 2022, one was married to a boy who was under age and one was married to a man aged between 45-49 years old. Another under-15 girl married a man aged 30 to 34 years old; five married men aged 25 to 29 years old; eight married teenagers between 15 and 19 years old; and the bulk or 15 of these girls married a man between 20 and 24 years old. As for the boys, three married women older than them aged 15 to 19 years old, while one of them married a “sweetheart” or a girl who was also under the age of 15 years old.

May-December affairs

THE PSA data also showed 7,478 men aged 60 years old and over got married in 2022 and over 1,000 of them married women at least half their age. The data showed 27 of these senior males married teenagers between 15 and 19 years old. The data also showed 163 men aged 60 years old and over married women aged 20 to 24 years old; 342 married women 25 to 29 years old; 593, women aged30to34years old; and 740, women aged 35 to 39 years old. See “Marriage,” A2

PAMPANGA CUISINE The inaugural Manyaman Food Festival, spearheaded by the Pampanga Provincial Government and Provincial Culinary Council, took center stage at the SM City Pampanga Events Center on Monday (December 4, 2023). With the goal of fortifying the culinary legacy of the province, the event was graced by Governor Dennis “Delta” Pineda and Board Member Mylyn PinedaCayabyab. NONOY LACZA

DENR explains ‘jet setter’ chief’s foreign trips By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural Resources (DENR) has justified the 2023 travel expenses of the Office of the Secretary, debunking the claims of Senator Raffy Tulfo that the “jet setter” DENR chief is overspending for useless foreign trips. “We wish to clarify the Travelling Expenses of the Department of Environment and Natural Resources for the full year 2023, particularly for the Office of the Secretary,” a DENR statement dated December 1 said. The DENR statement was issued in defense of Secretaria Maria Antonia Yulo-Loyzaga, who was called out by Senator Tulfo over her foreign trips during the plenary hearing of the Senate last month.

The Senator said Yulo-Loyzaga was always out of the office because she is always out of the country at least twice a month, since she assumed the top DENR post. He branded the DENR chief as a “jetsetter.” Yulo-Loyzaga is currently in Dubai along with 26 other key officials of the DENR. She was designated to head the 150-member Philippine delegation to the 13-day 28th Conference of Parties (COP28) United Nations climate meeting happening at the Dubai Expo in Dubai, United Arab Emirates. Yulo-Loyzaga was named Philippine delegation head by President Ferdinand Marcos, who cancelled his Dubai trip at the last minute. In Dubai, the DENR is working with seven major streams, including the operationalization of a loss and damage fund for climate

change-vulnerable nations including the Philippines. The DENR requested a P24billion budget for 2024, including some P1.7 billion for the travel expenses of the Office of the Secretary, triggering Tulfo’s outrage. The trips include both foreign and local. The DENR explained that as laid out in Republic Act 11936, or the General Appropriations Act for Fiscal Year 2023, the total travel budget – specifically the line item Travelling Expenses under the Office of the Secretary—is P1.107Billion. The DENR said the amount covers all local and foreign travel of offices of the Secretary, 9 undersecretaries, 7 assistant secretaries, 10 service directors, 33 divisions, special projects and other offices, and four staff bureaus,

namely the Biodiversity Management Bureau, Ecosystems Research and Development Bureau, Forest Management Bureau, and Land Management Bureau. The 2023 travel expenses of the Office of the Secretary also included the travel expenses of the DENR’s 16 Regional Offices, 76 Provincial Environment and Natural Resources Offices, and 146 Community Environment and Natural Resources Offices. “As of November 23, 2023, the total travel expenditure of the DENR Central Office is P45.169Million, of which P3.048 million pertains to expenses for official missions of the Secretary. This is 0.002 percent of the total travel budget as per the approved General Appropriations Act for Fiscal Year 2023,” the DENR statement noted.

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, December 5, 2023

Nlex plans to spend ₧15B on infra projects next year T

Hearings on NGCP revenue petition set

By Lorenz S. Marasigan

@lorenzmarasigan

lex Corp. plans to increase its capital expenditures (capex) by as much as 50 percent in 2024 to bankroll its infrastructure initiatives. When asked how much the company intends to spend in capex next year, Nlex Corp. President Luigi Bautista replied that the company is allocating “about P15 billion” for “existing and planned expansion” of the North Luzon Expressway (Nlex) and the Subic-Clark-Tarlac Expressway (Sctex). Nlex Corp. is spending P10 billion in capex this year. Included in the list of priority projects for Nlex is the Candaba Third Viaduct, which is now “30 percent complete,” Bautista said. “We are on track…[to] finish by November 2024,” he said. Costing P7.89 billion, the project involves the construction of a new

bridge in the middle of the two existing viaducts to further improve safety and expand the expressway’s capacity to handle more vehicles. Once completed, this will increase the road capacity of the entire Candaba Viaduct from three lanes without shoulders to three lanes with inner and outer shoulders in each direction. These lanes and shoulders will be wide hence, boosting the safety and convenience of those traversing the viaduct. The company is also hoping to start, “within the first quarter,” the widening of Nlex Segment 3, which runs from San Fernando, Pampanga to Sctex. The initiative costs P5.5 billion.

The proposal for the project has been submitted to the Toll Regulatory Board (TRB). “We submitted the invested proposal to TRB. It is within our corridor. It is part of the concession,” Bautista said. Nlex had said it intends to improve its assets for better customer experience by undertaking the regular pavement repair and bridge strengthening programs, replacement of traffic safety devices and continuous enhancement of its toll systems. It is also set to install more closed-circuit television cameras

Dragon8 Mall sees spike in foot traffic

By VG Cabuag @villygc

oubleDragon Corp. on Monday said its Dragon8 Mall in Divisoria, Manila recorded its highest weekend customer foot traffic of 67,136. The company said foot traffic could further increase in the coming days. Daily customer foot traffic is expected to exceed 200,000 once the North–South Commuter Railway urban rail transit project is completed. The customer volume in DoubleDragon’s portfolio is expected to rise in the coming weeks as the holiday rush continues to build up, it said. The six-storey Dragon8 Mall is in Recto Avenue and Dagupan streets, at the heart and busiest main center of Divisoria Manila. Dragon8 MallDivisoria houses 405 operating tenants and top food choices.

The foot bridge that connects straight to the third f loor of Dragon8 Mall-Divisoria was built to make it convenient for train commuters given the expected completion of the Malolos-Tutuban rail project next year, which is expected to carry 200,000 commuters daily. The Tutuban Manila to Malolos Bulacan rail project forms part of the 147-kilometer North–South Commuter Railway urban rail transit system from Calamba Laguna to Clark in Central Luzon. The 38-kilometer Malolos-Tutuban segment is expected to carry more than 200,000 commuters daily. The travel time from Malolos to Tutuban once the project is completed is estimated to be 35 minutes. The upcoming completion of the initial 38-kilometer Malolos-Tutu-

ban rail project, to be followed by the completion of the whole NSCR urban rail transit project is expected to become a major catalyst in further liven up the economic activity in Divisoria Manila area. “Dragon8 Mall-Divisoria happens to be situated strategically and while many of the commercial complex in the area sits on a leased land, DoubleDragon’s six-storey prime commercial land where Dragon8 Mall sits is on its titled land covering the prime corner street in the heart of Divisoria Manila.” DoubleDragon’s nationwide Philippine portfolio of titled hard assets footprint strategically located in Luzon, Visayas and Mindanao, is expected to fully mature by 2025 and expected to exceed over P250 billion asset value by 2030, excluding DoubleDragon’s overseas asset portfolio.

Rene Almendras is new MAP president By Andrea E. San Juan @andreasanjuan

he Management A ssociation of the Philippines (MAP) said Rene D. Almendras, the president and CEO of AC Logistics Holding Corp. and Public Affairs Group Head of Ayala Corp. (AC) has taken on the role of leading the business organization for 2024 with his election as its 76th President. MAP said Almendras has “vast” experience in the private and public sectors. The business organization noted that he serves as senior managing director of AC. “He is a Board Director of the following companies within the Ayala Group: AC Energy and Infrastructure, Light Rail Manila Holdings, Inc., Entrego, Air 21 Holdings, Inc., and its subsidiaries,” MAP said in its statement.

According to the business organization, Almendras spent 13 years with the Citibank group where he started as a management trainee and landed his first CEO position as President of City Savings Bank of the Aboitiz Group at the age of 37. Meanwhile, during his stint as president of Manila Water Co. Inc. (MWCI) in 2011, Almendras was recognized by the World Economic Forum as a “Sustainability Champion.” During Almendras’ term as MWCI’s president and COO, he received multiple awards and was recognized as one of the “Best Managed Companies in Asia, Best in Corporate Governance, one of the Greenest Companies in the Philippines, and hailed as the world’s Most Efficient Water Company.” As a public servant, Almendras served in various “high-level” posi-

tions namely: Secretary of Energy, Cabinet Secretary and Secretary of Foreign Affairs. In June 2016, he was awarded the Order of Lakandula, Rank of Gold Cross Bayani, a Presidential award and the highest honor given to a civilian by the Republic of the Philippines, MAP noted. The award was President Benigno Aquino III’s recognition of his exemplary service during his administration. Joining Almendras on the MAP 2024 Board of Governors are KPMG R.G. Manabat & Co. Vice Chair and COO Emmanuel P. Bonoan as VP; HSBC Philippines Treasurer and Head of Markets and Securities Services Maria Corazon D. Purisima as Treasurer; GCash/Mynt President and CEO Martha M. Sazon as Assistant Treasurer; and CEO Advisers, Inc. Partner Karen V. Batungbacal as Secretary.

along NLEX, SCTEX and SFEX and upgrade the NLEX-SCTEX traffic control center. To reduce its carbon footprint, the company said it will start using electric vehicles (EVs) in its operations. These EVs will be used by NLEX-SCTEX patrol crews. The tollway company will also continue this year its resource-saving initiatives of harnessing solar power in select toll plazas. Nlex is a subsidiary of the Metro Pacific Tollways Corp., the toll road arm of Metro Pacific Investments Corp.

he Energy Regulatory Commission (ERC) is set to start hearings on the application of the maximum annual revenue (MAR) for the 5th regulatory period (RP) of the National Grid Corporation of the Philippines (NGCP). The agency has set a pre-trial briefing this month while the presentation of evidence has been set for January next year, according to an order it issued. The same order also allowed the petitions for intervention filed by the National Transmission Corp., Power Sector Assets and Liabilities Management Corp., Panay Power Corp., Manila Electric Co., Cotabato Light and Power Co., Davao Light and Power Co. Inc., Subic Enerzone Corp., Mactan Enerzone Corp., RE Resources Inc., National Association of Electricity Consumers for Reforms Inc., Visayan Electric Co. Inc., Alfredo Non, Cebu Chamber of Commerce and Industry Inc., Monte Solar Energy Inc., Northwind Power Development Corp., and jointly by Global Business Power Corp., Panay Energy Development Corp., PH Renewables Inc., and Powersource First Bulacan Solar Inc. “Petitioners-Intervenors, therefore, have sufficiently demonstrated their direct and substantial interest

in the instant application, either as consumers or as electric industry participants,” the ERC said in its order. NGCP’s 5th RP application covers the period 2023-2027, noting, however, a pending rule-making petition filed by NGCP requesting for modification of the period to 2021-2025. NGCP’s filing of the 5th RP application is governed by the regulatory process as provided for under the ERC’s Transmission Wheeling Rate Guidelines. The ERC said it welcomes the filing of NGCP’s 5th RP application as it signals a positive development towards resolving the lag in the resetting of transmission rates. The commission also expects to continue soon the Regulatory Reset for the Private Distribution Utilities (PDUs), with the reset for the Second Entrant PDUs commencing before the year ends. Last month, the ERC released the partial determination on an ongoing review of the performance and operations of NGCP for the regulatory period 2016-2022. The grid operator’s total allowable revenues for Phase 1, or from 2016-2020, of the fourth regulatory period (4th RP) should only be P183.491 billion, or an average of P36.7 billion annually. Lenie Lectura

Companies BusinessMirror

Tuesday, December 5, 2023

SEC warns public against investing in online platform

By VG Cabuag

@villygc

he Securities and Exchange Commission (SEC) has warned the public against investing in online platform Kito-Kiko Variety Shop/ Kito-Kiko Incorp., as it is engaged in illegal investment-taking activities. Based on reports that it gathered, SEC said the company, owned by Rexcel Rose Cernero Sison, claims to be a general merchandise online shop which offers different kitchenware and home plasticware. It also offers different investment

packages dubbed pasalo slots. The SEC said the company is offering securities to the public by supposedly giving them an opportunity to grow their money by as high as 11 percent per month plus a 5 percent or an 8 percent rebate.

The SEC said the company “is not registered with the commission as a corporation or partnership. Further, it is not authorized to solicit investment/placements from the public nor to issue investment contracts and other forms of securities since it has not secured prior registration and/or license from the commission.” “The public is again reminded that investing in such an unregulated entity lacks investor protection because it is not covered by prudential and market conduct requirements applicable to licensed and authorized operations.” The agency has warned all unscrupulous individuals and entities that strict penalties are imposed for violations of the Securities Regulation Code, the Revised Corporation Code, Financial Products and Servic-

es Consumer Protection Act (FCPA) and such other rules and regulation enforced by the commission. Those who act as salesmen, brokers, dealers or agents, representatives, promoters, recruiters, uplines, influencers, endorsers, abettors and enablers of such unauthorized entities like the operators of the Facebook page or other similar social media of the company in selling or convincing people to invest in their co-franchise program offered including solicitations and recruitment through the internet may likewise be criminally prosecuted. “The names of all those involved will also be reported to the Bureau of Internal Revenue [BIR] so that the appropriate penalties and/or taxes be assessed correspondingly,” the SEC said.

Cebu Pacific enhances baggage policy MUTUAL FUNDS

BUSINESSMIRROR FILE PHOTO

ebu Pacific (CEB) said it is giving its passengers more options to choose from for their check-in baggage as it rolls out its enhanced baggage policy. Passengers now may avail up to three pieces of baggage and choose from 20kg, 24kg, 28kg, or 32kg variants. Previously, CEB passengers could only purchase up to two (2) pieces of any combination of 20kg or 32kg baggage allowance. Customers may buy the prepaid bags as they book their flights and add additional baggage allowance via the Manage Booking portal using their MyCebuPacific accounts. Customers who opt for a “GO Easy” or “GO Flexi” option only need to select “Upgrade” on the baggage included in their bundle. Meanwhile, customers who

choose the “GO Basic” option will first have to select the CEB baggage in the add-ons page after locking in their flight dates. “Cebu Pacific always strives to be customer centric. We updated our baggage policy so that passengers can have greater control over their baggage allowance at lower rates than current airport charges. This could help our customers lessen their expenses and experience a faster bag drop at the airport,” said Candice Iyog, CEB Chief Marketing and Customer Experience Officer. CEB advises its passengers to book their flights online by creating a MyCebuPacific account to get notifications about their upcoming trips, manage their bookings, access their Travel Funds, among other features. O n l i ne c hec k- i n is also available via the Cebu Pacific app and website, reducing passenger waiting time at the airport and allow ing them to go straight to their a ssig ne d boa rd i ng gates. CEB currently flies to 35 domestic and 25 international destinations across Asia, A u s t r a l i a a nd t he Middle East.

December 4, 2023

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 204.03 -4.09% -3.79% -4.25% -1.13% -2.15% ATRAM Alpha Opportunity Fund, Inc. -a 1.4012 4.1% 2.45% -0.07% 1.28% 4.24% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8267 -5.42% -3.74% -6.42% -2.88% -3.03% Climbs Share Capital Equity Investment Fund Corp. -a 0.6651 -3.61% -6.44% -5.81% n.a -4.89% First Metro Consumer Fund, Inc. -a 0.6177 -6.51% -6.54% -5.93% n.a -4.76% First Metro Save and Learn Equity Fund, Inc. -a 4.484 -5.66% -3.5% -3.28% -0.88% -3.57% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6687 -7.15% -4.64% n.a n.a -4.62% MBG Equity Investment Fund, Inc. -a 82.57 9.67% -5.98% -6.39% n.a 9.63% PAMI Equity Index Fund, Inc. -a 41.5174 -6.42% -4.21% -3.54% n.a -3.87% Philam Strategic Growth Fund, Inc. -a 433.26 -4.49% -4.22% -3.56% -1.04% -2.5% Philequity Dividend Yield Fund, Inc. -a 1.1589 -4.67% -0.36% -1.76% n.a -1.38% Philequity Fund, Inc. -a 32.6215 -4.47% -2.21% -2.46% 0.86% -2.02% Philequity MSCI Philippine Index Fund, Inc. -a 0.8376 -3.56% -3.17% n.a n.a -1.32% Philequity PSE Index Fund, Inc. -a 4.3651 -5.39% -3.32% -2.7% 0.57% -2.9% Philippine Stock Index Fund Corp. -a 726.35 -5.47% -3.49% -2.78% 0.55% -3.01% Soldivo Strategic Growth Fund, Inc. -a 0.6609 -3.59% -3.18% -5.33% n.a -1.96% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2386 -6.11% -3.83% -4.73% -1.2% -3.99% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8236 -5.81% -3.8% -3.09% n.a -3.32% United Fund, Inc. -a 3.024 -4.53% -3.29% -3.11% -0.16% -2.26% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0223 -5.63% n.a n.a n.a -3.21% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,20.9911 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a 0.9833 -7.81% -3.34% n.a n.a -6.03% Philippine Stock Index Fund Corp. -a 881.6 -5.57% n.a n.a n.a -3.07% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c98.6001 -4.93% -3.14% -2.46% n.a -2.49% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.8066 -4.99% -11.7% -3.51% -1.92% -5.33% Sun Life Prosperity World Voyager Fund, Inc. -a $1.5923 8.11% -0.61% 5.66% n.a 11.82% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.4687 -1.4% -4.01% -2.45% -1.9% -1.08% ATRAM Philippine Balanced Fund, Inc. -a 2.151 3.21% -2.02% -0.57% 0.04% 2.17% First Metro Save and Learn Balanced Fund, Inc. -a 2.4453 -3.83% -2.55% -0.75% -1.2% -2.4% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1857 -5.45% -2.38% n.a n.a -4.03% NCM Mutual Fund of the Phils., Inc. -a 1.8963 -1.98% -1.31% 0.52% 1.05% 0.49% PAMI Horizon Fund, Inc. -a 3.4766 -0.39% -2.92% -0.42% 0.2% 1.06% Philam Fund, Inc. -a 15.2276 -0.67% -3.58% -0.96% -0.14% 0.58% Solidaritas Fund, Inc. -a 1.9903 -1.37% -1.79% -0.76% 0.79% 0.19% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3252 -1.13% -2.43% -2.08% -0.53% -0.13% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8772 -1.1% -0.49% -1.26% n.a -0.19% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9274 0.94% -3.23% n.a n.a 1.33% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8205 -3.13% -5.03% n.a n.a -1.81% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7993 -4.3% -5.33% n.a n.a -2.82% Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03223 -0.52% -6.26% -1.61% -0.15% -0.52% PAMI Asia Balanced Fund, Inc. -b $0.8849 0.72% -7.64% -1.43% -1.38% 5.35% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.1127 4.74% -2.15% 3.25% 2.66% 6.94% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $0.9991 1.75% -4.49% 0.31% n.a 2.83% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 389.22 3.35% 1.71% 2.59% 2.14% 2.97% ATRAM Corporate Bond Fund, Inc. -a 1.905 1.71% 0.13% 0.56% -0.07% 1.61% Cocolife Fixed Income Fund, Inc. -a 3.3202 2.92% 1.13% 2.32% 3.77% 3.47% Ekklesia Mutual Fund, Inc. -a 2.2629 4.55% -0.42% 1.28% 1.22% 3.55% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4425 2.12% -0.05% 2.06% 1.09% 2.15% Philam Bond Fund, Inc. -a 4.2544 2.26% -2.77% 1.72% 0.63% 2.76% Philam Managed Income Fund, Inc. -a 1.3679 3.64% 1.28% 3.02% 1.73% 3.67% Philequity Peso Bond Fund, Inc. -a 3.9993 4.09% 0.24% 2.74% 1.41% 3.38% Soldivo Bond Fund, Inc. -a 1.0461 2.81% 0.32% 3.27% n.a 2.9% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2864 4.65% 1.03% 3.51% 1.95% 4.47% Sun Life Prosperity GS Fund, Inc. -a 1.7566 3.87% 0.27% 2.69% 1.33% 3.59% Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3 1.0027 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $491.99 2.69% 0.63% 1.92% 2.48% 2.47% ALFM Euro Bond Fund, Inc. -a Є212.49 1.33% -0.95% 0.01% 0.77% 1.34% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.0239 1.27% -6.9% -1.83% 0% 1.44% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0244 2.52% -2.71% -0.4% n.a 2.95% PAMI Global Bond Fund, Inc. -b $0.8424 -2.29% -8.29% -3.85% -3.22% -6.4% Philam Dollar Bond Fund, Inc. -a $2.2228 2.4% -4.17% 0.69% 1.58% 1.96% Philequity Dollar Income Fund, Inc. -a $0.0607978 1.8% -0.74% 1.32% 1.57% 1.84% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.692 -1.91% -5.63% -1.26% 0.15% -1.08% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.5 2.57% 1.74% 2.53% 2.02% 2.44% First Metro Save and Learn Money Market Fund, Inc. -a 1.1053 3.17% 1.82% n.a n.a 2.95% Sun Life Prosperity Peso Starter Fund, Inc. -a 1.3723 2.74% 1.95% 2.45% 1.98% 2.53% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.21 4.02% n.a n.a n.a 3.72% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0938 2.38% 1.32% 1.51% n.a 2.3% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 41.781 -5.65% n.a n.a n.a -2.11% Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3971 9.96% 8.29% n.a n.a 13.39% Sun Life Prosperity World Income Fund, Inc. -a,1 0.9712 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7775 -4.19% -7.11% n.a n.a -1.58%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Launch date is August 22, 2023. 2 - Launch date is October 6, 2023. 3 - Launch date is May 25, 2023. “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

pifa. com.ph to see the latest NAVPS/NAVPU.”

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

December 4, 2023

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

BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

369,112,763 19,422 190,505,498 5,549,770 3,904,266 60,309,155 860 185,012 16,740 1,854,645 17,226,756.50 1,881,276.50 19,760 7,900 473,470 5,450 18,500 137,224 40,560 8,100

-31,507,753 -90,843,749 3,009,035 -1,088,969.00 7,173,000 -16,740 -1,789,155 1,333,534.50 -1,024,067 3,340 13,500 -

INDUSTRIAL ACEN CORP 4.75 4.76 4.81 4.84 4.71 4.76 5,043,000 23,960,050 ALSONS CONS 0.55 0.59 0.57 0.6 0.55 0.58 992,000 566,630 ALTERNERGY HLDG 0.72 0.75 0.72 0.75 0.72 0.75 1,052,000 771,020 ABOITIZ POWER 37.3 37.65 36.6 37.65 36.6 37.65 1,099,000 40,872,385 RASLAG 1.15 1.18 1.22 1.22 1.13 1.18 448,000 515,070 BASIC ENERGY 0.178 0.18 0.18 0.18 0.177 0.178 910,000 162,080 FIRST GEN 16.56 16.68 17 17 16.52 16.56 580,900 9,665,444 FIRST PHIL HLDG 60.05 61.85 60.2 61.9 60 60.05 48,720 2,935,573.50 MERALCO 367 370 360.4 370 360.4 370 207,230 76,144,168 MANILA WATER 17.86 18 18.1 18.24 18 18 57,400 1,036,634 PETRON 3.36 3.4 3.29 3.4 3.27 3.4 210,000 708,840 PETROENERGY 4.3 4.58 4.5 4.58 4.28 4.58 29,000 127,030 PHX PETROLEUM 4.82 5.19 5 5.19 5 5.19 6,000 30,950 REPOWER ENERGY 7 7.02 6.99 7.02 6.99 7 33,100 231,870 SYNERGY GRID 6.18 6.2 6.18 6.29 6.15 6.18 579,400 3,590,756 SHELL PILIPINAS 11.5 11.6 11.6 11.88 11.3 11.6 5,800 67,068 SPC POWER 7.24 7.25 7.2 7.25 7.2 7.24 18,700 135,390 SP NEW ENERGY 1.21 1.22 1.18 1.26 1.18 1.21 92,201,000 112,404,940 VIVANT 14.22 15.94 14.22 14.22 14.22 14.22 300 4,266 AGRINURTURE 1.06 1.08 1.13 1.13 1.05 1.08 2,855,000 3,107,720 AXELUM 2.17 2.18 2.15 2.17 2.14 2.17 161,000 347,600 CENTURY FOOD 30.9 30.95 30.8 31.2 30.1 30.95 2,324,000 71,898,070 DEL MONTE 7.12 7.4 7.48 7.48 7.2 7.4 1,600 11,796 DNL INDUS 6.1 6.13 6.16 6.18 6.07 6.13 581,100 3,557,578 EMPERADOR 20.85 20.9 20.9 20.95 20.7 20.9 135,700 2,829,120 SMC FOODANDBEV 48.8 48.9 48.75 49.5 48.75 48.9 105,700 5,176,880 FIGARO COFFEE 0.62 0.63 0.63 0.63 0.62 0.63 1,186,000 741,670 FRUITAS HLDG 1.01 1.02 1.03 1.03 1.01 1.02 2,025,000 2,057,630 GINEBRA 164.1 167 167.5 167.5 163.8 167 2,720 450,574 JOLLIBEE 241.2 244 233.8 244 233 244 1,273,430 305,380,060 KEEPERS HLDG 1.45 1.46 1.48 1.48 1.45 1.46 265,000 385,720 MAXS GROUP 3.13 3.2 3.18 3.25 3.1 3.23 443,000 1,400,900 MG HLDG 0.095 0.102 0.095 0.095 0.095 0.095 50,000 4,750 MONDE NISSIN 8.17 8.18 8.21 8.33 8.12 8.17 3,460,000 28,380,140 SHAKEYS PIZZA 9.36 9.39 9.36 9.38 9.36 9.36 17,400 163,095 ROXAS AND CO 0.48 0.5 0.45 0.5 0.45 0.5 98,000 48,620 RFM CORP 2.94 2.95 2.96 2.96 2.95 2.95 27,000 79,690 SWIFT FOODS 0.057 0.07 0.056 0.056 0.056 0.056 30,000 1,680 UNIV ROBINA 113.9 114 113.5 115.5 113.3 114 945,560 108,007,372 VITARICH 0.475 0.5 0.49 0.5 0.49 0.5 4,010,000 2,001,200 CEMEX HLDG 0.77 0.78 0.82 0.82 0.77 0.77 653,000 502,910 EC VULCAN CORP 0.71 0.72 0.67 0.74 0.63 0.73 441,000 308,450 EEI CORP 5.7 5.75 5.7 5.78 5.7 5.75 61,200 350,871 MEGAWIDE 3.03 3.05 3.05 3.05 3.03 3.03 460,000 1,394,250 PHINMA 19.5 20 19.5 20 19.5 20 26,700 533,750 CROWN ASIA 1.52 1.56 1.52 1.52 1.52 1.52 11,000 16,720 EUROMED 0.8 0.85 0.8 0.84 0.8 0.84 14,000 11,600 LMG CORP 2.28 3.49 4.14 4.14 4.14 4.14 1,000 4,140 MABUHAY VINYL 5.8 5.97 5.97 5.97 5.97 5.97 500 2,985 PRYCE CORP 5.19 5.2 5.3 5.3 5.2 5.2 187,200 975,087 GREENERGY 0.249 0.25 0.25 0.255 0.247 0.249 7,350,000 1,842,060 INTEGRATED MICR 3.41 3.43 3.4 3.41 3.4 3.41 90,000 306,890 IONICS 0.99 1 1.04 1.04 0.98 1 1,880,000 1,880,220 SFA SEMICON 1.85 2.05 2.05 2.05 2.05 2.05 294,000 602,700 CIRTEK HLDG 1.59 1.61 1.61 1.65 1.58 1.59 268,000 429,300

-8,973,240 7,400 -5,513,630 34,500 -6,798,338 -2,855,645.50 -8,590,210 261,678.00 -3,340 -15,570 -522,198 13,714,730 31,570 -108,500 -5,471,605 -2,426,776 -289,475 -4,428,515 -57,680 -81,530 145,244,350 -1,227,950 4,750 -5,722,878 158,415.00 -70,840 -19,418,523 259,490 -21,000 11,400 6,060 2,985 16,656 2,550 2,000 -

HOLDING & FRIMS ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ATN HLDG A COSCO CAPITAL DMCI HLDG FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT LOPEZ HLDG LT GROUP PRIME MEDIA SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER WELLEX INDUS ZEUS HLDG

131.5 7.05 105 30.2 7.93 51.35 8.6 18.5 51.65 22.25 68.4 56.35 1.4 2.6 2.71 954 0.365 168 2,700 0.77

0.97 657 47.2 9.7 11 0.38 4.51 9.27 0.2 553 3.23 38.9 4.31 8.7 2.77 0.9 825 108 95.55 0.249 0.071

131.6 7.3 105.7 30.25 8.01 51.45 8.82 18.54 55.8 22.85 69 56.5 1.42 2.7 2.85 1,090 0.395 172.9 2,710 0.81

0.98 659 47.9 9.79 11.32 0.385 4.55 9.3 0.27 558 3.53 39 4.4 8.75 2.83 0.94 826.5 109 100 0.275 0.106

130.1 7.47 103.2 30.35 8.21 50.9 8.6 18.54 55.8 22.05 68.05 56.75 1.43 2.7 2.79 1,090 0.37 167 2,706 0.81

1.01 645.5 47.5 9.75 11.14 0.38 4.6 9.28 0.2 547.5 3.23 39 4.3 8.66 2.73 0.94 830 107.9 103.2 0.25 0.071

131.6 7.47 105.8 30.35 8.45 51.65 8.6 18.54 55.8 22.85 69.15 56.8 1.43 2.7 2.92 1,090 0.37 172.9 2,706 0.81

1.03 659 47.9 9.79 11.14 0.38 4.6 9.34 0.2 558 3.23 39.25 4.3 8.7 2.77 0.94 832 109 103.2 0.25 0.071

129.8 7.47 103.2 30.1 7.74 50.2 8.6 18.5 55.8 22.05 68.05 56.35 1.41 2.6 2.71 1,090 0.37 167 2,700 0.81

0.95 645.5 46.8 9.58 11 0.38 4.49 9.27 0.2 541 3.23 38.55 4.3 8.52 2.73 0.94 821 106.5 100 0.25 0.071

131.5 7.47 105.7 30.25 7.93 51.45 8.6 18.54 55.8 22.85 69 56.5 1.41 2.6 2.71 1,090 0.37 172.9 2,700 0.81

0.98 659 47.9 9.74 11 0.38 4.51 9.3 0.2 558 3.23 39 4.3 8.7 2.77 0.94 825 108 100 0.25 0.071

2,824,070 2,600 1,805,320 183,100 489,200 1,173,880 100 10,000 300 81,200 251,250 33,290 14,000 3,000 166,000 5 50,000 810 15 10,000

14,185,000 71,400 217,000 1,834,300 14,200 50,000 15,000 1,195,900 10,000 108,620 1,000 664,000 10,000 8,433,600 61,000 16,000 463,440 291,190 430 50,000 10,000

14,067,130 46,863,375 10,313,180 17,794,154 156,600 19,000 68,310 11,117,014 2,000 60,027,085 3,230 25,914,370 43,000 73,162,837 168,550 15,040 383,879,415 31,553,304 43,096 12,500 710

PROPERTY ARTHALAND CORP 0.415 0.44 0.44 0.44 0.415 0.44 270,000 116,850 AYALA LAND 30.9 31 31 31.15 30.35 31 4,667,100 143,816,900 AYALA LAND LOG 1.6 1.62 1.64 1.64 1.6 1.6 305,000 491,290 ARANETA PROP 1.07 1.08 1.07 1.1 1.05 1.08 546,000 592,260 AREIT RT 30.65 30.8 30.8 30.85 30.45 30.65 869,800 26,678,200 A BROWN 0.63 0.65 0.65 0.65 0.61 0.65 9,000 5,710 CITYLAND DEVT 0.7 0.71 0.7 0.7 0.7 0.7 9,000 6,300 CROWN EQUITIES 0.061 0.069 0.06 0.069 0.06 0.069 50,000 3,090 CEB LANDMASTERS 2.52 2.54 2.48 2.52 2.48 2.52 239,000 597,560 CENTURY PROP 0.295 0.3 0.3 0.3 0.3 0.3 460,000 138,000 CITICORE RT 2.52 2.53 2.53 2.54 2.52 2.52 1,259,000 3,180,380 DOUBLEDRAGON 8.09 8.11 8.31 8.31 8.09 8.11 83,000 673,933 DDMP RT 1.21 1.22 1.22 1.23 1.19 1.21 2,914,000 3,513,940 DM WENCESLAO 6.26 6.3 6.28 6.3 6.28 6.28 12,900 81,110 EMPIRE EAST 0.123 0.128 0.127 0.128 0.121 0.123 6,690,000 834,000 EVER GOTESCO 0.285 0.295 0.285 0.295 0.285 0.295 1,160,000 336,200 FILINVEST RT 2.76 2.77 2.82 2.82 2.75 2.76 1,701,000 4,700,450 FILINVEST LAND 0.56 0.57 0.56 0.57 0.55 0.57 971,000 545,800 GLOBAL ESTATE 0.74 0.76 0.74 0.74 0.74 0.74 2,000 1,480 PHIL INFRADEV 0.51 0.53 0.5 0.51 0.5 0.51 38,000 19,040 MEGAWORLD 2.02 2.03 2.03 2.05 2.02 2.03 11,375,000 23,136,890 MRC ALLIED 1.37 1.41 1.41 1.45 1.36 1.41 84,000 116,580 MREIT RT 12.06 12.18 12.2 12.38 12.02 12.06 112,800 1,364,518 OMICO CORP 0.228 0.23 0.228 0.228 0.228 0.228 400,000 91,200 PREMIERE RT 1.52 1.54 1.54 1.54 1.52 1.52 95,000 145,320 PRIMEX CORP 2.42 2.49 2.45 2.45 2.45 2.45 2,000 4,900 RL COMM RT 4.75 4.78 4.71 4.79 4.65 4.75 483,000 2,288,700 ROBINSONS LAND 15 15.02 14.8 15.08 14.8 15 5,472,000 82,080,430 ROCKWELL 1.35 1.42 1.35 1.37 1.35 1.35 9,000 12,170 SHANG PROP 3.65 3.68 3.57 3.65 3.57 3.65 4,000 14,520 STA LUCIA LAND 3.23 3.39 3.23 3.23 3.23 3.23 14,000 45,220 SM PRIME HLDG 33 33.05 32.95 33.5 32.6 33.05 2,449,700 81,209,700 VISTAMALLS 2.22 2.45 2.25 2.45 2.22 2.45 6,000 13,580 SUNTRUST RESORT 0.84 0.85 0.75 0.85 0.75 0.85 75,000 56,350 VISTA LAND 1.66 1.69 1.66 1.69 1.66 1.66 689,000 1,150,870 VISTAREIT RT 1.68 1.69 1.67 1.69 1.67 1.68 452,000 762,170 SERVICES ABS CBN 3.65 3.7 3.75 3.75 3.65 3.65 143,000 522,350 GMA NETWORK 8.27 8.29 8.29 8.3 8.25 8.29 96,100 794,276 MANILA BULLETIN 0.203 0.239 0.23 0.23 0.23 0.23 30,000 6,900 GLOBE TELECOM 1,725 1,733 1,720 1,738 1,720 1,725 8,225 14,236,460 PLDT 1,265 1,270 1,265 1,280 1,258 1,270 34,415 43,691,695 APOLLO GLOBAL 0.014 0.015 0.015 0.015 0.014 0.015 25,700,000 373,800 CONVERGE 8.32 8.34 8.49 8.53 8.26 8.32 4,962,700 41,485,393 DFNN INC 3.02 3.2 3.03 3.03 3.02 3.02 89,000 269,170 DITO CME HLDG 2.3 2.33 2.33 2.34 2.27 2.33 2,720,000 6,255,290 NOW CORP 1.11 1.14 1.15 1.15 1.08 1.14 1,393,000 1,545,350 TRANSPACIFIC BR 0.132 0.138 0.132 0.138 0.132 0.138 680,000 89,940 ASIAN TERMINALS 15.12 15.76 15.78 15.78 15.52 15.52 9,400 147,812 CHELSEA 1.27 1.34 1.28 1.34 1.28 1.34 423,000 558,540 CEBU AIR 32.45 32.75 31.55 32.75 31.55 32.75 98,400 3,202,255 INTL CONTAINER 219.6 220 219 222 219 220 1,257,820 276,774,372 LBC EXPRESS 17 18.58 18.64 18.64 18.64 18.64 400 7,456 LORENZO SHIPPNG 0.56 0.67 0.55 0.55 0.55 0.55 7,000 3,850 MACROASIA 4.09 4.1 4.12 4.17 4.1 4.1 606,000 2,487,360 PAL HLDG 5.15 5.25 5.13 5.49 5.13 5.15 8,800 46,406 HARBOR STAR 0.82 0.85 0.85 0.85 0.85 0.85 3,000 2,550 IPEOPLE 6.62 6.99 6.99 6.99 6.99 6.99 1,500 10,485 STI HLDG 0.46 0.465 0.46 0.465 0.46 0.46 1,070,000 492,350 BELLE CORP 1.17 1.18 1.18 1.18 1.17 1.17 52,000 60,860 BLOOMBERRY 9.59 9.6 9.5 9.66 9.5 9.6 2,243,000 21,537,069 PACIFIC ONLINE 3.08 3.16 3.15 3.18 3.15 3.17 253,000 797,900 PH RESORTS GRP 0.98 0.99 1 1.01 0.96 0.98 4,756,000 4,738,290 PREMIUM LEISURE 0.59 0.6 0.59 0.6 0.58 0.6 2,485,000 1,466,670 DIGIPLUS 6.51 6.59 6.71 6.71 6.51 6.51 664,200 4,371,021 PHILWEB 1.73 1.83 1.83 1.84 1.83 1.84 6,000 11,010 ALLDAY 0.16 0.162 0.162 0.162 0.159 0.16 2,960,000 473,410 ALLHOME 1.12 1.14 1.17 1.17 1.11 1.12 2,033,000 2,292,040 METRO RETAIL 1.22 1.23 1.22 1.22 1.22 1.22 66,000 80,520 PUREGOLD 27.55 27.6 27.45 27.8 27.4 27.6 314,400 8,670,410 ROBINSONS RTL 40.5 40.95 39.8 40.95 39.5 40.95 114,400 4,610,165 PHIL SEVEN CORP 71.35 76.5 80.5 80.5 76.5 76.5 5,360 411,360 SSI GROUP 2.64 2.69 2.67 2.69 2.6 2.64 1,442,000 3,788,260 UPSON INTL CORP 1.63 1.65 1.69 1.75 1.65 1.67 223,000 384,290 WILCON DEPOT 20.25 20.3 20.85 21 20.2 20.3 646,800 13,125,790 MEDILINES 0.325 0.33 0.325 0.33 0.325 0.325 50,000 16,300 PRMIERE HORIZON 0.161 0.173 0.166 0.166 0.161 0.161 1,530,000 248,000 MINING & OIL ATOK 5.1 5.89 5.89 5.89 5.89 5.89 2,000 11,780 APEX MINING 2.97 2.98 2.96 3 2.92 2.98 11,993,000 35,652,080 ATLAS MINING 3.55 3.56 3.55 3.58 3.55 3.56 47,000 167,250 BENGUET A 4.95 5.02 4.95 5.09 4.9 5.05 646,000 3,182,760 BENGUET B 5.01 5.48 4.86 5.49 4.86 5.49 2,147,000 10,443,350 COAL ASIA HLDG 0.124 0.152 0.125 0.125 0.125 0.125 630,000 78,750 CENTURY PEAK 3.08 3.19 3.19 3.19 3.19 3.19 20,000 63,800 DIZON MINES 3 4 3.1 3.1 3.1 3.1 40,000 124,000 FERRONICKEL 2.28 2.33 2.32 2.35 2.28 2.32 600,000 1,391,600 LEPANTO A 0.089 0.09 0.086 0.091 0.086 0.09 4,880,000 431,680 LEPANTO B 0.084 0.089 0.084 0.089 0.084 0.089 5,600,000 488,820 MANILA MINING A 0.0053 0.0055 0.0054 0.0054 0.0053 0.0054 49,000,000 264,100 MANILA MINING B 0.0054 0.0057 0.005 0.0057 0.005 0.0057 12,000,000 64,500 MARCVENTURES 1.02 1.04 1.01 1.04 1.01 1.04 41,000 41,830 NIHAO 0.53 0.63 0.53 0.53 0.53 0.53 5,000 2,650 NICKEL ASIA 5.19 5.28 5 5.28 4.97 5.28 3,006,400 15,666,517 ORNTL PENINSULA 0.65 0.7 0.69 0.69 0.65 0.65 97,000 63,850 PX MINING 3.15 3.16 3.15 3.19 3.14 3.16 2,293,000 7,243,120 SEMIRARA MINING 29 29.15 28.6 29.25 28.6 29 565,500 16,425,285 ENEX ENERGY 4.31 4.64 4.69 4.69 4.31 4.31 20,000 88,020 ORNTL PETROL A 0.0081 0.0084 0.0083 0.0084 0.0083 0.0084 10,000,000 83,200 PHILODRILL 0.0077 0.0084 0.008 0.008 0.0077 0.0077 57,000,000 440,700 PXP ENERGY 3.6 3.74 3.68 3.68 3.6 3.6 82,000 296,920 PREFFERED ACEN PREF A 1,016 1,020 1,020 1,020 1,020 1,020 540 550,800 ACEN PREF B 1,060 1,072 1,065 1,072 1,060 1,060 2,215 2,354,630 AC PREF AR 2,462 2,496 2,450 2,500 2,450 2,496 10,105 24,892,570 ALCO PREF D 451 485 450 450 450 450 420 189,000 AC PREF B2R 485.2 500 485.2 485.2 485.2 485.2 100 48,520 BRN PREF A 97.5 98 98 98 97.5 97.5 200 19,550 CEB PREF 31.45 31.65 32 32 31.4 31.4 5,000 157,135 DD PREF 91 92 91.15 92 91 92 640 58,684.50 JFC PREF B 920 930 925 925 925 925 2,370 2,192,250 PNX PREF 3B 23.2 25.6 24.95 25.6 24.95 25.6 200 5,055 PCOR PREF 3B 973 985 990 990 972 985 3,370 3,278,400 PCOR PREF 4C 701 1,000 1,000 1,000 1,000 1,000 10 10,000 SMC PREF 2F 71.5 72.8 72.8 72.8 72.8 72.8 200 14,560 SMC PREF 2J 66.15 68.15 67.5 67.5 66.15 66.15 33,370 2,246,265 SMC PREF 2K 66 69 68.95 68.95 68.95 68.95 11,000 758,450 SMC PREF 2L 76 76.5 76 76.5 76 76.5 21,600 1,651,600 SMC PREF 2O 75.9 76.75 76.8 76.8 75.5 76.7 18,260 1,382,777

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

3.29 3.59 7.57 8.89 7.53 7.53 7.53 7.53 1,100 0.3

0.355

1,350,500 -14,616,060 5,002,410 -3,845,240 18,800 -27,110 -3,590,790.00 -3,896,145 11,033,015 -580,422 2,305,655 18,838,196 -7,500 -709.9999 12,850 20,985,305 9,600 6,611,105 -90,430.00 -61,603 -22,350 -49,612 -290,000.00 554,350 12,400 2,675,740.00 2,740 -796,618 -1,477,710 70,914,592 3,650 7,422,915 -940,240 -52,080 -240,120 6,448,905 12,684,654 12,080 808,900.00 168,550.00 499,220 179,915,950 1,644,210 17,974 248,400 114,998 -75,310 3,000 1,102,717 -890,130 -1,618,545 -1,069,295.00 0 -257,930 -105,350 -715,105 83,720 166,500 -28,550 63,800 31,000 -88,080 -10,800 2,650 -1,422,551 6,500 1,459,660 -573,430 3,930 3,600 -51,000 -267,750 -474,620 -157,135 498,630

8,283

-8,283

SMALL, MEDIUM & EMERGING

0.425 0.44 0.41 0.43 1,430,000 594,400 0.75 0.77 0.75 0.77 64,000 48,280 0.98 1.01 0.98 0.99 788,000 781,000 0.66 0.68 0.65 0.68 65,000 43,040 1.04 1.05 1.03 1.03 1,362,000 1,407,110 1,040 0.201 0.21 0.196 0.196 850,000 169,670 -123,030

EXHANGE TRADE FUNDS

98.5 99 98.5 99 4,920 485,924 -11,887

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS MERRYMART XURPAS

FIRST METRO ETF

0.415 0.75 0.99 0.66 1.03 0.196 98.5

0.43 0.76 1.01 0.68 1.04 0.209 99

www.news.businessmirror@gmail.com

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Tuesday, December 5, 2023 B3

BTr kicks off Dec fund-raising with mixed award

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE national government raised nearly P10 billion on Monday from the sale of Treasury bills, kick-starting its December borrowing program with a mixed award as the Bureau of the Treasury (BTr) rejected bids seeking higher yields.

The Treasury raised a total of P9.685 billion out of its P10 billion programmed amount from

the tender of three-tranche T-bills. The Treasury offered P3 billion in 91-day T-bills, P3 billion

in 182-day debt papers and P4 billion in 364-day government securities. Due to mixed movements in investors’ asking yields, the Treasury raised P4.2 billion from the 91-day promissory notes, an upsize from its programmed offering, and P2.5 billion from 182-day T-bills. The Treasury also borrowed P2.985 billion from the sale of 364-day debt papers. The Treasury saw the average yield for the 91-day government security settling at 4.996 percent with a range of 4.875 percent to 5.073 percent. The 182-day T-bills fetched rates between 5.175 percent to 5.5 percent with an average yield

of 5.267 percent. Meanwhile, the 364-day Tbills’ average yield stood at 5.732 percent with an accepted range rate of 5.5 percent to 5.988 percent. “The auction was well received by the market, going 3.5 times oversubscribed with P34.7 billion in total tenders,” the Treasury said. “This allowed the Committee to double the amount of noncompetitive bids accepted for the 91-day T-Bill to raise P9.7 billion of the P10.0 billion offering,” the Treasury added. R iza l Commercia l Bank ing Corp. (RCBC) Chief Economist Michael L. Ricafort explained that the mixed results at Monday’s T-bills

auction was caused by the correction in tender yields, resulting in higher yields on a week-on-week basis. “It is important to note that most Treasury bill average auction yields are still much higher than the comparable short-term PHP BVAL yields: 3-month and 6-month T-bill yields higher by at least +0.36 [basis points], while the 364-day T-bill still slightly higher by at least +0.04 [basis points],” Ricafort said. The secondary market benchmark rates for the three-tranche T-bills were at 5.365 percent (3-month), 5.633 percent (6-month) and 5.777 percent (1-year). Ricafort added that the recent

inaugural tenders by the Treasury of Sukuk bonds and tokenized bonds allowed it to reject bids with relatively higher asking yields. “The partial awards may have to do with the recent debut of U.S.$1 billion sukuk bonds and P15 billion maiden 1-year tokenized Treasury bonds; both of which gave the ability to reject relatively higher bid yields,” the RCBC executive said. For December, the Treasury plans to raise P100 billion from the tender of T-bills and Treasury bonds. The Treasury will hold two auctions of T-bills this month each with P10 billion offering and two tenders of Treasury bonds each with P20 billion programmed amount.

Do you know the price of free? Savings promise linked to Maynilad license extension

HE “price of free” refers to the hidden costs or trade-offs associated with seemingly free products, services or offers. While something may be advertised as free, it’s essential to recognize that other costs are often involved, whether in the form of personal data, time or quality. Let’s explore a few simple examples to better understand the “price of free.” Example 1: Free mobile apps. Consider a free mobile application that you can download on your smartphone. While the app itself may not have an upfront cost, it may collect and track your personal data, which could be used for targeted advertising or sold to third-party entities. The price of using the app for free is potentially sacrificing your privacy and being subjected to targeted marketing. Or, in most cases, since you’re already using the app, it can now entice you to spend on add-on features or in-app offers, as “freemium” apps do. Example 2: Free online courses. Suppose you come across a free online course that promises to teach you a valuable skill. While the course content may be free, limitations or trade-offs might be involved. For instance, you may only have access to a limited selection of lessons or the course might lack personalized support or certification. The price of the free course is the potential compromise in quality, support or additional resources that you would otherwise receive with a paid course. Plus, you’re giving your information to the course creator, which they can then use to advertise their paid courses to you. Example 3: Free shipping with minimum purchase. Imagine you’re shopping online and come across a promotion offering free shipping on orders over P1,000. The allure of free shipping encourages you to add more items to your cart to meet the minimum purchase requirement. In doing so, you may end up spending more money on items you didn’t initially plan to buy. In this case, the price of free shipping is the potential overspending and deviation from your intended budget. The price of free can manifest in various ways, and it’s crucial to assess the potential trade-offs or costs associated with seemingly free offers to make informed choices.

Fitz Gerard Villafuerte

personal finance Now that we understand the price of free and its implications, let’s discuss strategies for effectively dealing with it. 1. Evaluate the true cost. When encountering something that appears to be free, take a moment to consider the trade-offs, especially potential hidden and future costs. It’s free now, but will it expose you to unwanted spending temptations later? Ask yourself what you might be giving up in terms of data, privacy, time or quality. Assess whether the perceived benefits outweigh the associated costs. 2. Read the fine print. Before engaging in a free product or service, review the terms and conditions, privacy policies or user agreements. Look for any indications of how your personal data might be used or if there are any limitations or restrictions that could impact your experience. Being aware of the fine print can help you make more informed decisions. 3. Seek alternatives. Explore alternative options that may offer better value for your time or resources. Sometimes, paying for a product or service can provide a higher quality experience, better support or additional features that outweigh the price difference. Consider whether investing in a paid option might be worthwhile in the long run. 4. Prioritize your needs. Determine what’s more important to you. If privacy is a concern, you might opt for paid alternatives that prioritize data security. Investing in a paid service might be more beneficial if comprehensive support and resources are crucial to you. In conclusion, the price of free reminds us that seemingly “free” offers often come with hidden costs or trade-offs. We can make more informed decisions and avoid potential pitfalls by evaluating the true cost, reading the fine print, seeking alternatives, and prioritizing our needs. Fitz Villafuerte is registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 105th RFP program this January 2024. To inquire, e-mail info@ rfp.ph or text at 0917-9689774.

AYNILAD Water Services Inc. (Maynilad) offers the promise of savings to customers in its negotiation for an extension of its concession with the Metropolitan Waterworks and Sewerage System (MWSS). The concessionaire of the MWSS for the West Zone, Maynilad is seeking a 10-year extension of its concession agreement. In the rate rebasing concluded last year, Maynilad and the government regulator already assumed the extension of the concession in the determination of the tariff required to recover the private utility firm’s expenditures. This resulted in a lower tariff adjustment of 35.61 percent, computed on a one-time basis, compared to 58.56 percent if the extension was not assumed. According to the company, this means that its residential customer who uses 30 cubic meters of water per month would save as much as P212 per month from the longer concession since the revised concession agreement (RCA) term extension

was already assumed in the recent rate rebasing. Maynilad said through a statement issued on December 4 that extending the agreement “strengthens the company’s operational and financial capabilities, and enables it to provide consumers with affordable water service without undue uncertainty or delay.” “With it, Maynilad will have a longer cost recovery period, resulting in lower tariff increases,” according to the company. The reduction in the tariff increase translates to real savings for consumers, making water services more affordable and manageable for households and businesses alike, it added. “The extension represents a mutually beneficial arrangement for Maynilad and our valued customers. Beyond our commitment to ensuring a sustainable water future, it underscores our dedication to making our services more affordable to our consumers. By reducing the necessary tariff increase, we’re making water services more affordable, making

life better for the communities we serve,” Maynilad President Ramoncito S. Fernandez was quoted in the statement as saying. Currently, Maynilad operates under the RCA with MWSS, an agreement that is set to conclude on May 6, 2037. Under Republic Act 11600, struck on December 10, 2021, Maynilad’s franchise is slated to span a quarter-century, extending through to 2047. “Aligning the RCA with our legislative franchise is a strategic and crucial step towards a sustainable water future. This foresight allows us to engage in long-term planning and substantial investment in our water infrastructure. With a clear vision towards 2047, we are in a stronger position to allocate our resources efficiently, particularly for significant projects and necessary improvements,” Fernandez added.

Promise to invest

ACCORDING to Maynilad, it has set aside P85 billion if its concession is extended for 10 years. The company

said this plan is hinged on “elevating the quality of service to existing customers while broadening operational scope.” The firm said it envisions a “significant expansion” of its water services to an additional 200,000 individuals. The expansion will expand its market base from 11.6 million in 2037 to 11.8 million by 2047 within the designated concession area. The company’s strategic vision also encompasses growth in both domestic and non-domestic customer bases, with ambitious plans to facilitate 40,383 new water service connections, according to Maynilad. Recognizing the importance of infrastructure development, a substantial portion of the capital investment will be dedicated to replacing 250 kilometers of aging pipelines, the company said. Maynilad said this initiative is pivotal in the control of non-revenue water, with a target of water loss to 20 percent by 2030 and sustaining that level until 2047. Jonathan L. Mayuga

Japan bank told: Funding gas projects not ‘kawaii’

Y parking funds in a project by the Atlantic Gulf & Pacific Co. (AG&P), the Japan Bank for International Cooperation (JBIC) earned the ire of organizations seeking the protection of the Verde Island Passage, “a channel that cuts through the Philippines by the south of Luzon, right in the center of the Coral Triangle.” This was what members of the Bukluran ng Mangingisda ng Batangas (bond of Batangas fishermen) and Protect VIP organizations expressed on Monday when it filed a complaint at the JBIC Manila office. A statement issued by the groups said their complaint centered on the actions of the JBIC as it made a $100-million investment in AG&P, along with Osaka Gas Co. Ltd. The groups said such investment violates Philippine laws and the investment rules of JBIC. The organizations explained that AG&P local unit Linseed Field Power Corp. is building a liquefied natural gas (LNG) import terminal in Batangas City, which is the subject of five complaints from Protect VIP due to permit violations related to the cutting of coconut trees, land conversion and environmental compliance. Local fishers are opposed to the terminal project due to fears of a spill, like what occurred after the sinking of

MT Princess Empress, from LNG carriers. They also cite the threat posed by the gas project to the biodiversity and productivity of the VIP. “JBIC has rules concerning the sustainability of its investments, rules which they imposed on themselves but which they violate with their continued investment in AG&P. JBIC’s continued fossil fuel lending is not aligned with the 1.5 °C target to mitigate the impacts of climate change. In fact, JBIC’s actions are indicative of Japan’s status as one of the world’s biggest fossil fuel lenders. As a major player in the international financial landscape, Japan has the opportunity to lead by example in transitioning towards a more sustainable and climate-friendly future, but they choose to prioritize profit over ethical and environmental responsibilities,” Protect VIP Co-convenor Gerry C. Arances was quoted in the statement as saying. The filing was joined by members of Protect VIP, who dressed up in iconic Japanese anime characters and carried banners saying “Gas is not ‘kawaii,’” (a word used among Japanese youth for cute). “There is nothing cute about violating the law, which is what Linseed is doing and JBIC tolerates it. Our letter tells JBIC that they have failed to

monitor the compliance of Linseed with local laws, that they failed to properly classify the environmental sensitivity of the project under its own regulations, and that they failed to take action as demanded by their own guidelines. As a reputable international financial institution, this lapse in transparency and accountability is concerning. We urge JBIC to be held accountable for their legal shortcomings and to ultimately withdraw from fossil fuel funding which significantly sets us back to reach our climate imperatives,” added Arances, also the executive director of think-tank Center for Energy, Ecology and Development (CEED) in the Philippines. The Protect VIP organization expressed concern that the continued support of JBIC for Linseed “will encourage the company to circumvent more local environmental regulations in its construction and operations.” “The oil spill that devastated Oriental Mindoro shows that the lack of respect for laws can have serious consequences for the environment and the people in the area. LNG is a dangerous cargo that will now have to travel through VIP, disrupting the local way of life and livelihood of locals, while posing a threat to the environment. We are urging JBIC to obey their own environmental guidelines

and cease funding Linseed,” Protect VIP Convenor and Catholic priest Edwin Gariguez was also quoted in the statement as saying. Local fisherfolk echoed the concern of Gariguez, adding that the presence of so many gas projects in VIP will further affect their livelihood, already severely impacted by the MT Princess Empress oil spill. “Nakakabahala ang magiging epekto ng mga terminal at planta ng gas na tinatayo sa paligid ng VIP. Ngayon pa lang, nahihirapan nang makabangon ang mga mangingisda mula sa epekto ng oil spill, tapos ay dadagdagan pa ang peligro na ito mula sa mga malalaking barko na magdadala ng LNG sa mga terminal. Nakikiusap kami na sa pamumuhunan ng JBIC, isaalang-alang din nila ang kabuhayan na maaring masira dahil sa mga kumpanyang sinusuportahan nila,” said Wilma Gregorio of the Bukluran ng Mangingisda sa Batangas. [The impact of the gas terminals and plants being built around VIP is worrisome. Already, fishermen are struggling to recover from the effects of the oil spill, and this risk will be compounded by the large ships that will bring LNG to the terminals. We implore that in JBIC’s investment, they also consider the livelihoods that may be destroyed because of the companies they support.]

Sunlife’s product to offer investors access to offshore structured investments

EEING some Filipinos have an increasing appetite for global investment, Sun Life of Canada (Philippines) Inc. (Sunlife PHL) launched a “2-in-1” product composed of life insurance and dollar investment. According to the insurer, its new product (“Sun Dollar Maximizer”) promises to provide clients with an “easy access” to offshore structured investments.

The product, which is US dollardenominated, is a single-pay investment-linked insurance that offers an indicative fixed annual income pay out of 4.3 percent, capital protection and life insurance protection for seven years, according to the insurer. Sunlife PHL added that the product has a maturity benefit of 100 percent of the single premium and life insurance coverage equal to at least

125 percent of the single premium. “With the ‘Sun Dollar Maximizer,’ clients can look forward to reaping the policy’s benefits even before maturity,” Sunlife PHL President Alex S. Narciso said last Monday. “It’s an all-in-one financial solution that addresses various needs, especially for those looking to grow or preserve their funds for retirement or planning for estate transfer.”

Earlier this year, Sunlife PHL CEO Benedict C. Sison explained that Filipinos, particularly younger ones, are driving a “huge” chunk of availment of the insurance products of the firm. Sison said the amount of insurance products being availed by Filipino Millennials and Gen Zs have “increased significantly” and is close to accounting for a “huge chunk” of its total insurance products sold.

“It is definitely increasing. It is a growing market right now,” he said. (Related story: https://businessmirror.com.ph/2023/06/21/sunlife-insurance-products-availedby-young-filipinos-significantlyincreasing/) “Because as more Gen Zs enter the workforce, that gives us more opportunities. That is why we need to tailor fit our products and solutions to the younger generations—even

the way we communicate has to be much better,” he added. The Sun Life Group has been rolling-out products catering to global investments this year. In September, Sun Life Asset Management Co. Inc. (SLAMCI) launched its “Prosperity World Income Fund” that seeks to attract Filipinos in investing in a global fund that it said has both income and growth potential. Jasper Emmanuel Y. Arcalas

Tuesday, December 5, 2023 • Editor: Gerard S. Ramos

Art

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CCP, National Museum mount year-round exhibit of experimental, abstract works NATIONAL Museum of the Philippines board of trustees chairman Andoni M. Aboitiz (from left), Cultural Center of the Philippines president Michelle Nikki Junia, National Museum director Jeremy Barnes, daughter of National Artist Arturo Luz Angela Luz, and National Museum deputy director-general Jorell Legaspi

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Frankie Muniz, 38; Amy Acker, 47; Margaret Cho, 55; John Rzeznik, 58. HAPPY BIRTHDAY: Slow down, consider your options and don’t let anyone sway you in the wrong direction. Eliminate delays and restrictions by handling matters yourself. The fewer people you involve in your plans, the easier it will be to reach your destination on time and successfully this year. Trusting your instincts and getting firsthand information will positively impact what you achieve this year. Your numbers are 4, 12, 15, 28, 36, 42, 49.

ARIES (March 21-April 19): Put your money to good use and target what’s important to you. Update documents, contracts and investments to ensure you don’t miss an opportunity. Protect what you do to earn a living and how you handle your cash from people offering misleading information. ★★★

TAURUS (April 20-May 20): Live, learn and move forward. Establish who and what you want to support and initiate your interest and contributions. An open discussion will clear up any unresolved issues and bring about positive change. Don’t act in haste, or you may lose leverage. ★★★★★

HE Cultural Center of the Philippines (CCP) and the National Museum of the Philippines (NM) present a collaborative exhibition featuring experimental and abstract artworks, including those by a handful of National Artists. Titled Selections from the 21st Century Art Museum (21AM) Collection, the exhibit outlines the early trajectories of Philippine contemporary art from the 1960s to the 1980s. The show opened on November 21 and is on view until November next year at the National Museum of Fine Arts. The exhibition consists of two sections, namely, “The Possibilities of Luminance” and “Man and Nature.” The former explores the concept of brightness or luminance as an artistic expression, while the latter muses on visual expressions surrounding humans and the environment, explored through the pieces of select National Artists for the Visual Arts. The featured artworks include modernist and abstract art practices within the Philippine contemporary art scene between the 1970s and 1980s. Displayed in the two galleries are works by a constellation of National Artists, including Napoleon Abueva, Federico Aguilar Alcuaz, Ang Kiukok, Benedicto “BenCab” Cabrera, Jose Joya, Cesar Legaspi, Arturo Luz, Vicente Manansala and Guillermo Tolentino. Part of the fold as well are pieces by Lee Aguinaldo, Raymundo Albano, Augusto “Gus” Albor, Constancio Bernardo, Roberto Chabet, Mariano “Nonong” Del Rosario, Lao Lianben, Ileana Lee, Alfredo Liongoren, Ben Maramag, Flora Mauleon, Romulo Olazo, Rodolfo Samonte, Dani Sibayan, Gerardo “Gerry” Tan, Phyllis Zaballero and Fernando Zobel.

GEMINI (May 21-June 20): Be a good listener. Put your energy into professional responsibilities. Refuse to let anyone lead you astray. Be direct and leave no room for misunderstandings. How you deal with others will determine what happens next. Show your strengths, not your weaknesses. ★★

CANCER (June 21-July 22): Home is where the heart is, and finding innovative ways to add to your comfort and convenience will make you smile. A romantic opportunity or a trendy new look will motivate you to accept change and unanticipated opportunities. Embrace life. ★★★★

21AM serves as a continuation of CCP’s programs to promote its collection to a wider audience. It also aligns with the institution’s goal to further promote Philippine arts and culture outside of the complex while the CCP Main Building undergoes its three-year rehabilitation, which is targeted to be completed in 2025. Entrance to the exhibition is free to the public. The National Museum is open from 9 am to 6 pm, Tuesday to Sunday. The National Museum of Fine Arts is located along Padre Burgos Avenue, Rizal Park, Ermita in Manila City, Philippines. For more news and information on CCP programs and projects, follow the official social media accounts of the CCP and CCP Visual Arts and Museum Division on Facebook, X, Instagram, YouTube and TikTok. ■■■ THE CCP Kaisa sa Sining (KSS) Visayas Network announces the recipients of the 2nd KSSLAP (Kaisa Ini sa Sining, Lunsay nga Artistang Pilipino) Awards. The awarding ceremony will be held on December 14,

2023, at the Luce Auditorium at Silliman University, Dumaguete City. The eight awardees are Jose R. Gullas (Cebu/music & cultural work/posthumous), Marianito Luspo (Bohol/cultural work), Ramon B. Ramirez (Iloilo/ cultural research), Rodolfo Reveche (Murcia, Negros Occ./cultural work), Cristina S. Taniguchi (Dumaguete /visual arts), Alma Taldo (Bohol/music), Dr. Vicente Villan (Sigma-Capiz/cultural research), and Mariant E. Villegas (Dumaguete/dance). Launched in 2014, the Kaisa sa Sining Regional Arts Centers is a partnership program of the CCP, through its Cultural Exchange Department. It aims to strengthen the CCP’s linkages and cooperation with regional educational institutions, non-government organizations, and local government units to broaden public participation in the arts, promote and showcase artistic excellence, and facilitate a vibrant collaboration between and among communities. The KSS network has grown to a total of 67 organizations: 26 in Luzon, 19 in Visayas, and 22 in Mindanao. ■

DUTCH MUSEUM HAS SENT CRIMEAN TREASURES TO KYIV AFTER A LEGAL TUG-OF-WAR BETWEEN RUSSIA, UKRAINE A SPIRALING torque from the second century AD, is displayed as part of the exhibit called The Crimea—Gold and Secrets of the Black Sea, at Allard Pierson historical museum in Amsterdam, on April 4, 2014. AP

TODAY’S HOROSCOPE

THE HAGUE, Netherlands—Historical treasures that were stored for years at an Amsterdam museum during an ownership dispute sparked by Russia’s annexation of Crimea have been safely transported to Ukraine, the museum announced Monday. Their transport ends a nearly decade-long legal tug-of-war over the artifacts including a solid gold Scythian helmet from the 4th century BC and a golden neck ornament from the second century AD that weighs more than a kilogram (two pounds). “This was a special case, in which cultural heritage became a victim of geopolitical developments,” Els van der Plas, director of the Allard Pierson historical museum, said in a statement. The museum displayed the 300 artifacts from four museums in Crimea in an exhibition that opened a month before the Russian annexation in 2014. Both the Ukrainian government in Kyiv and the

four Crimean museums that had loaned bronze swords, golden helmets, precious gems and other artifacts to the Allard Pierson demanded the objects back. After a series of lower court decisions, the Dutch Supreme Court ruled in June that the museum must return the treasures to Ukraine and not to the four museums from which they originally came for an exhibition titled Crimea—Gold and Secrets of the Black Sea. Judges cited the lack of national recognition for the Russia-annexed Autonomous Republic of Crimea. “Although the museum pieces originate from Crimea and can therefore also be regarded as Crimean heritage, they are part of the cultural heritage of Ukraine,” the Supreme Court ruled. “We are pleased that clarity has emerged and that they have now been returned,” Van der Plas said. AP

LEO (July 23-Aug. 22): Have a plan or schedule before you start. Don’t ruin your chance to reach your objective because you take on too much or can’t decide what to pursue. Money management and practicality will dictate how much you achieve and how far you get. ★★★

VIRGO (Aug. 23-Sept. 22): A change will be a learning experience that will help you sort through what you want to do next. Consider your budget and what it will take to make you happy with the outcome. Don’t sit back when action is required to reach your goal. ★★★

LIBRA (Sept. 23-Oct. 22): Keep your thoughts and intentions to yourself until you are sure your ideas are doable. Taking on issues riddled with emotions will require your full attention. Actions will speak louder than words. A financial or contractual opportunity will unfold if you move forward using discipline and common sense. ★★★

SCORPIO (Oct. 23-Nov. 21): Don’t let the little things get to you. Take care of your responsibilities and head in a more desirable direction. Make domestic changes that will make your life easier. An innovative idea will bring you closer to someone who shares your sentiments. ★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Reset your emotions and incorporate a practical way to move forward. Say no to anyone who tries to interfere with your plans or take advantage of you. The best way to reach your goal is to get things done by being focused and disciplined. ★★

CAPRICORN (Dec. 22-Jan. 19): Be the voice of reason. Manufacture what you want your life to represent. Put changes in place to ensure your comfort and happiness, and make creative investments offering long-term benefits and security. ★★★★★

AQUARIUS (Jan. 20-Feb. 18): Your involvement and determination will help you reach your goal. Being aware of what’s expected of you and delivering on time will be satisfying and offer relief that everything will be all right. Productivity and sticking to a budget are in your best interest. ★★★

PISCES (Feb. 19-March 20): Don’t be hard on yourself or others. Look at what’s unfolding and counter with a positive attitude and the willingness to do something to make a difference. A kind word will change the way others view you. ★★★ BIRTHDAY BABY: You are important, direct and motivated. You are innovative and adaptable.

‘select songs’ BY NEIL BIEHN

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Adrian Johnson/Jared Goudsmit ACROSS 1 Greek messenger god 7 Bills that pass 11 Outdoor gear co-op 14 Gobble up 15 Plot measure 16 Virginia Tech’s sports grp. 17 1980 Steely Dan hit 19 Michael of SNL 20 Elbows’ locations 21 Put clothes on 22 What might change a ring tone? 23 ___ the line 24 Persuade gently 25 In that case 27 NFL official 28 Abhor 31 1982 Stevie Nicks hit 37 Latin pop icon Miguel 38 Big name in cooking spray 39 Future hyacinth or tulip 40 2003 White Stripes hit 45 Not tense 46 Shag ___ 47 Michelin Guide unit

48 Devastate 50 Skippy alternative 53 Cousin of a heron 55 Iconic musician from Toronto 57 Hawaii’s third-largest island 58 Like a personal trainer 59 8,675,309, for one...or a hint to each asterisked clue’s answer 61 Annual shot’s target 62 Speed contest 63 Like some elders and tattoos 64 “You betcha!” 65 Welcoming sign 66 Bollywood strings DOWN 1 Pair of cymbals with a pedal 2 Start of a Spanish year 3 What moles and voles do? 4 ___ best friend (dog) 5 High priest at Shiloh 6 Ship out 7 Material in disposable gloves 8 “Pocket rockets,” in poker 9 Struggle (with) 10 One of two for each state: Abbr.

11 Good storyteller 12 Sound that rebounds 13 Chilled with cubes 18 Pitcher’s stat 22 Bender’s term for a human, on Futurama 24 Corp. bigwig 26 Bae 27 Moves to first class, say 29 Captain’s spot 30 Genderqueer identity 31 She brought eternal winter to Arendelle, in Frozen 32 Song for two 33 Applauds, informally 34 Resort that may be called Oasis 35 Chow down 36 Lexington sch. 41 Cryptanalysis org. 42 Geeky music genre 43 Positions (oneself) 44 Sister 48 Japanese noodle dish 49 What’s HI-strung? 50 Villain defeated by Leia

51 “People are saying...” 52 Prepares to store, as a flag 53 Questionable 54 Foul temper 56 Cauliflower ___ (healthy alternative to a grain) 57 Leave out 59 Expert 60 Kingston school Solution to today’s puzzle:

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Editor: Gerard S. Ramos • Tuesday, December 5, 2023

‘Killers of the Flower Moon’ named best film of 2023 by New York film critics NEW YORK—Martin Scorsese’s Killers of the Flower Moon has been named the best film of the year by the New York Film Critics Circle. It’s the third time that Scorsese has been given the best film award from his hometown’s critics, who named 1990’s GoodFellas their top movie, as well as 2019’s The Irishman. On Thursday, the group also awarded Lily Gladstone, who stars alongside Leonardo DiCaprio in Killers of the Flower Moon, best actress. Killers of the Flower Moon, a $200 million Apple Studios production based on David Grann’s non-fiction bestseller, chronicles the Osage murders of the 1920s. Oppenheimer, Christopher Nolan’s blockbuster drama about J. Robert Oppenheimer and the Manhattan Project, picked up several awards: best director for Nolan and best cinematography by Hoyte van Hoytema. The New York Film Critics Circle, founded in 1935, is the oldest critics group in the country. The awards will be handed out at a dinner on January 3. Last year, the critics named Todd Field’s Tár the best film of 2022. Here’s a full list of their picks: n Best Film: Killers of the Flower Moon n Best Director: Christopher Nolan, Oppenheimer n Best Actress: Lily Gladstone, Killers of the Flower Moon n Best Actor: Franz Rogowski, Passages n Best International Film: Anatomy of a Fall n Best Supporting Actress: Da’Vine Joy Randolph, The Holdovers n Best Supporting Actor: Charles Melton, May December n Best Screenplay: May December n Best Non-Fiction Film: Menus-Plaisirs—Les Troisgros n Best Cinematography: Hoyte van Hoytema, Oppenheimer n Best First Film: Past Lives n Best Animated Film: The Boy and the Heron n Special Award: Karen Cooper, director of the Film Forum, the standard-bearing New York arthouse cinema AP

Christmas cheers and musical treats

A GMA remake of ‘Maging Sino Ka Man’ comes to Netflix Netflix won’t just be giving holiday cheer this December but also a Filipino classic love story sure to send viewers swooning as they ask: What happens when two people from very different backgrounds meet? Fireworks, of course. Romance. And then love. But while fate may have a hand in the beginning of such a love story, the challenge is this: “To love someone is to strive to accept that person exactly the way he or she is, right here and now.” Truly, this is the high-stakes gamble at the core of Maging Sino Ka Man. Originally a 1991 romantic movie, Maging Sino Ka Man gets a fresh update from GMA as a binge-worthy series. Starring Barbie Forteza and David Licauco, Maging Sino Ka Man gives Netflix viewers not just a front row seat to romantic moments between the leads but also action adventures that further fuel their growing feelings for each other...or possibly tear them apart. Barbie plays the role of Monique, an heiress of a business empire whose life is in danger, forcing her to hide and assume the disguise of the boyish Dino. David is Carding, a petty thief who looks after orphans. Sparks fly as Monique and Carding struggle to hash out their differences but also come to discover they have a common past that could either build or destroy them. To prepare for the dual roles of the passionate artist Monique and boyish Dino, Barbie was eager to share her process: “I watched one of my favorite actresses, Hilary Swank, to get a reference for the role of Dino. Then I thought of making Monique more sophisticated and liberated to emphasize the difference between the two characters. I always like to challenge myself into making my characters more complex yet relatable and full of depth.” For Maging Sino Ka Man’s heart-pounding action scenes, David found some ease in filming them. “I always work out and I’m an athlete,” he says and welcomes the role of Carding as a fresh break and challenge from the rich-boy roles he had accumulated prior to this series adaptation. As Carding, David repeatedly toes the line between right and wrong for the sake of family. The special limited series also features Juancho Triviño, Faith Da Silva, Mikoy Morales, and Rain Matienzo. Maging Sino Ka Man is made possible under the supervision of GMA senior vice president for entertainment group Lilybeth G. Rasonable, while the creative team is led by creative director Aloy Adlawan. Maging Sino Ka Man streams on Netflix beginning on December 10 in Asia Pacific and Middle East territories.

ND just like that, it’s the merriest month of the year. The entertainment universe is all set to add cheers and celebrate this festive season that is huge especially for Filipinos. Performance venues have been booked months ahead for special concerts and shows, promotions are in full speed for the entries to the annual all-Filipino film festival scheduled before the year ends, and companies are all set to treat their employees to their grandest and happiest Christmas parties ever. National Artist for Music Ryan Cayabyab is one person who will make sure not to leave any stone unturned when his most beloved group, the Ryan Cayabyab Singers (RCS), performs its first live Christmas concert since the pandemic to usher in this year’s Christmas celebrations. Happening on December 7 at the Music Museum, to be stage directed by Rico Mortel, the show is titled C is for Christmas,and will feature the wonderful talents of Cayabyab’s seven-member vocal ensemble composed of Poppert Bernadas, VJ Caber, Celine Fabie, Anthony Castillo, Erwin Lacsa, Katherine

Tiuseco, and Nica Tupas. Cayabyab indulged us on what makes the music for Filipino Christmas truly special: “The Filipino Christmas song has a very strong pull on the heartstrings. We are a very sentimental people—that is why even our upbeat traditional carols start in a minor key instead of a major key which is supposed to sound ‘happier.’ Even Jose Mari Chan’s all-time holiday hit ‘Christmas in Our Hearts’ starts off on a minor key.” As an example, Cayabyab mentioned two traditional Christmas carols which he also counts as his personal favorites: “Ang Pasko ay Sumapit,” and “Pasko na Naman.” This inclination, Cayabyab explained, might be traced back to the country’s classic Kundiman, reasoning that “historically and perhaps socially, Filipinos are a happy people, but there is always an underlying melancholy, which is almost always present in the way many songs are created and expressed. And yet despite this, the majority of us continue to be hopeful, just like the true essence of the season.” The vocals group was able to release a lot of new songs during the lull caused by the global pandemic because everyone had time to record themselves and Cayabyab had time to write some new material. There is “Tatlong Christmas Cards,” a new Christmas love song which RCS will be performing in the concert for the first time since its virtual release two years ago. A little trivia: Cayabyab’s “Kumukuti-kutitap,” the first ever Christmas song he cowrote with Joey Reyes, stands as a classic choral piece during the holiday season. It was intended for a musical which did not materialize, but the song has lived on, especially after singer Joey Albert recorded and released her version.

National Artist Ryan Cayabyab with the Ryan Cayabyab Singers (RCS) and Nicole Laurel Asensio

CHRISTMAS SONG THAT HEALS THE BROKEN HEART

TWENTY-TWENTY Three has been a really great year for singer, host and actress Nicole Laurel Asensio. She has released beautifully recorded original compositions throughout the year that have garnered accolades and awards. She has bagged the wonderful role of Sisa in the highly touted stage production of Ibarra, which is up for many awards at the ALIW Awards next week. On the first day of this month, Asensio released a brand-new original Christmas duet, titled “Sana Masaya Ka” with her singer-friend Jeffrey Hidalgo, released under Warner Music. The song tells the bittersweet story between former lovers spending their first holiday season apart. Asensio’s smooth vocals evoke nostalgia while Hidalgo’s smoky timbre resonates deeply with the meticulous arrangement of Gabe Dandan. The classic and organic elements brought by strings and woodwind sections envelope the song with a sense of vulnerable warmth as both sing of healing hearts and happier holidays to come. “It can be a bittersweet season for some. Relationships fail. People make mistakes and grow apart. However, the markings of truly loving someone is wishing them love and happiness even if you are no longer involved with them. You still want to know if they are alright, and that they’ll still have a merry Christmas even if you’re not in the picture anymore,” Asensio said. Despite heartbreak from a long relationship, Asensio whispered that she has found a new love, and assured us that she will definitely be happy this Christmas. “And grateful all year round,“ she added. n

Publishing industry heavy-hitters sue Iowa over state’s new school book-banning law THE nation’s largest publisher and several bestselling authors, including novelists John Green and Jodi Picoult, are part of a lawsuit filed on Thursday challenging Iowa’s new law that bans public school libraries and classrooms from having practically any book that depicts sexual activity. The lawsuit is the second in the past week to challenge the law, which bans books with sexual content all the way through 12th grade. An exception is allowed for religious texts. Penguin Random House and four authors joined several teachers, a student and the Iowa State Education Association—the state’s teachers union representing 50,000 current and former public school educators—in filing the federal lawsuit. The law went into effect this fall after the Republican-led Legislature passed it earlier this year and Gov. Kim Reynolds signed it in May. In addition to the the book ban, the law forbids educators from raising gender identity and sexual orientation issues with students through grade six, and school administrators are required to notify parents if students ask to change their pronouns or names. It is the portion banning books that the latest lawsuit challenges, said Dan Novack, an attorney for and vice president of Penguin Random House. That ban prohibits books that feature any description or depiction of sex—regardless of context or whether the work is fiction or nonfiction—from schools and classroom libraries from kindergarten through grade 12. “It’s also created the paradox that under Iowa law, a 16-year-old student is old enough to consent to sex but

not old enough to read about it in school,” Novack said. The law also bans books containing references to sexual orientation and gender identity for students through sixth grade, which the lawsuit says is a violation of the 14th Amendment’s equal protection clause. The lawsuit seeks a court order declaring the

law unconstitutional, Novack said, adding that government can’t violate free speech rights “by pretending that school grounds are constitutional no-fly zones.” The lawsuit does not seek monetary damages. Schools already have in place systems that allow parents to object to their children reading books the parents find objectionable, said Mike Beranek, president of the Iowa teachers union. “We take issue with a law that also censors materials for everyone else’s child,” he said. Asked for comment on the lawsuit, Reynold’s office referred to her statement issued earlier this week in response to a separate lawsuit by the American Civil Liberties Union and Lambda Legal on behalf of several families challenging the entirety of the new law. In that statement, Reynolds defended the law as “protecting children from pornography and sexually explicit content.” Plaintiffs in the latest lawsuit took issue with that characterization, noting that among books that have been banned in Iowa schools are such critically acclaimed and classic works as The Color Purple by Alice Walker, Native Son by Richard Wright and 1984 by George Orwell, showing that under the law, “no great American novel can survive,” Novack said. Novelist Laurie Halse Anderson, a plaintiff in the lawsuit whose book Speak about a young teenage rape victim has been banned from several Iowa schools, was more blunt. “I think that anybody who finds a book about a 13-year-old rape survivor as being pornographic needs some professional help,” Anderson said. AP

Iowa Gov. Kim Reynolds speaks during an interview in Des Moines, Iowa. Several families are suing to stop Iowa’s new law that bans books depicting sex acts from school libraries, forbids teachers from raising LGBTQ+ issues and forces educators in some cases to out the gender identity of students to their parents. AP

Tuesday, December 5, 2023

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UPTOWN BONIFACIO’S FESTIVE FILIPINO CHRISTMAS SHINES SPOTLIGHT ON INDIGENOUS FILIPINO WEAVERS

PTOWN Bonifacio, Megaworld’s flagship mall in Fort Bonifacio, Taguig City, welcomed the Christmas season with a grand festivity dedicated to celebrate and shine the spotlight on the rich Filipino art of weaving and textile. A Festive Filipino Christmas, launched in partnership with CulturAid, a non-profit organization leading the empowerment and cultural preservation of indigenous communities, highlights the rich tapestry of handcrafted creations of weavers and

artisans from various communities from all over the Philippines. The centerpiece of the joyous celebration is the 40-feet Christmas tree towering over the Uptown Mall Atrium and adorned with more than a thousand woven ensembles of ornaments and decorations made from locally-sourced materials and handcrafted by indigenous communities from Lanao Del Sur, Marawi, Aklan, Iloilo, Albay, and La Union. The bows and highlights, meanwhile, were handcrafted by CulturAID’s artisans from

sinamay and abaca twine from Bicol, while the ticog wet grass banig were shipped from their crafters in Mindoro, Aklan, Leyte, Negros Occidental, and Iloilo. Also adorning the mall are decorations and ornaments made by CulturAID’s partner communities from the provinces. “This collaboration with CulturAID is a testament to our commitment to celebrate and preserve the rich cultural heritage of the Philippines. We believe that the holiday season is the perfect time to showcase the beauty of our traditions and to create meaningful connections with our community,” shared Megaworld Lifestyle Malls head Graham Coates. Guests can show their support to the weaving communities supported by CulturAID by shopping for handwoven and handcrafted ornaments and products on display at the Threads That Unite Us booth at the Ground Floor of Uptown Mall, near the Concierge. CulturAID is a non-profit organization that aims to document, safeguard, revitalize and promote the practice and relevance of Philippine cultural heritage through Philippine artisan craft, textile weaving production, immersive cultural travel and indigenous community preservation.

Enjoy a festive journey of the senses with Discovery Suites

MBRACE the magic of the holidays with Discovery Suites as it unveils an array of experiences to ignite the senses and spread festive cheer. From hampers brimming with gifts, delectable dining experiences to luxurious staycation options, Discovery Suites is set to captivate guests with Seasonal Sensations: A Festive Journey of the Senses.

Sense of Sight THE hotel’s 25-ft Christmas tree embellished with blue, gold and rose gold ornaments is one of the tallest, if not the tallest, among the hotels in Ortigas Center. It is an opulent holiday centerpiece of this year’s celebration, bedecked with shimmering lights and trimmings evoking the magic of the season. The grand display is the perfect representation of how iconic and timeless Discovery Suites has become in creating memorable experiences during the year’s most wonderful season.

Sense of Hearing THE tree lighting event officially opened with world-class harmonies and carols by the Minstrels of Hope. A playlist of classic local and international carols will be played in the hotel until early January to keep the cheerful holiday spirit alive.

Sense of Taste SAVOR the magic that the season brings with an expertly crafted range of holiday hampers, homemade pastries and desserts from Sweet Discoveries, a selection of celebration platters made for entertaining, and indulgent dining experiences and menus

from 22 Prime and Restaurant 5. Every bite is a taste of happiness and celebration, perfect for gatherings and cozy moments with your loved ones.

Sense of Smell CLOSE your eyes, take a deep breath, and embark on an olfactory journey you have never experienced before. Each home fragrance and candle is a passport to new destinations, reminder of a cherished memory, or a glimpse into the future. We have the perfect line up of bespoke scents that are ideal for gifting, in collaboration with Filipino perfumer, Oscar Mejia III.

Sense of Touch ESCAPE the ordinary and immerse yourself in the warmth of Discovery Suites’ signature Service That’s All Heart. Book a Suite Holiday Retreat with rates starting at P5,500 nett per night, inclusive of buffet breakfast and 15 percent discount on food and beverage.

Since it is the season of giving, it’s all about touching lives as Discovery Suites partners with Bakhita Canossa Foundation, creating a significant difference in the lives of the youth. This is our way of supporting the foundation in its selfless commitment to make Jesus known and loved by uplifting human conditions through education, mentorship, and community development programs that empower our next generation. Be part of this meaningful initiative by sharing your blessings in cash or in kind (sports materials, school supplies or food packs). All proceeds will be used to support developmental programs and provide resources for underprivileged youth in Tondo and Bataan. “At Discovery Suites, we believe that the holiday season is not just a date in the calendar, but a feeling that warms the heart and ignites the spirit. This year’s theme, ‘Seasonal Sensations: A Festive Journey Of The Senses,’ offers a multi-sensory experience that promises to captivate your sight, hearing, smell, taste and touch through a symphony of well-curated holiday delights.” “As we prepare for this exciting journey, we want to extend our deepest gratitude for choosing us as your home not just for the holidays but all throughout the year. Our commitment to making every experience memorable is as strong as the senses awakened by the beauty and wonders this festive season,” said Carlo Cruz, Hotel Manager. To learn more about the holiday offerings of Discovery Suites, visit bit.ly/DiscoverySeasonalSensations. For room reservations, inquiries, and group dining reservations, call us at (+632) 7719 8888.

Tiger Sugar, Hello Kitty Collaboration Launches at Tiger Sugar Cafe, One Ayala

IGER Sugar Philippines proudly announced the launch of its exclusive collaboration with the iconic Japanese character Hello Kitty, marking the celebration of its 5th year anniversary. The grand unveiling took place at the Tiger Sugar Café One Ayala Makati branch on November 29, 2023. The Tiger Sugar x Hello Kitty collaboration introduced two limited edition drinks, crafted to delight fans of both brands. “Jelly Party feat. Hello Kitty” and “Pink Slushie with Salted Cheese Cream feat. Hello Kitty” promise a fusion of flavors that will leave taste buds tingling with joy. Adding a unique and delightful twist to the collaboration, Tiger Sugar Philippines also unveiled the limited-edition Hello Kitty Jeepito. This special edition Jeepito is a symbol of the local culture, intricately adorned with Hello Kitty’s signature charm. Starting November 30, 2023, the Tiger Sugar x Hello Kitty collaboration will be available to the public in all 34 Tiger Sugar branches nationwide. First 10 customers at each branch will receive complimentary reusable Hello Kitty cups, adding an extra layer of charm to this special collaboration. The reusable Hello Kitty cups will also be available for purchase

at P499 each. The launch took place at the first ever Tiger Sugar Café, located at One Ayala Makati. The Taiwanese brand chose to open its first cafe in the Philippines, recognizing the country as the leading patron of the brand in Asia. With a seating capacity of 30, the café is the perfect space to savor the delectable Tiger Sugar menu, which includes signature brown sugar milk tea drinks, Kung Pao Pasta, Pork Dandan Pasta, Creamy Mushroom Pasta, Chinese Shallot Noodles, Signature Fried Chicken Burger, Signature Chicken Rice Bowl, Truffle Fries, and their own Brown Sugar Boba Fries. They recently opened their second cafe in SM City Fairview with plans to open more branches all over the country. Operating daily from 10 am to 9 pm, Tiger Sugar Café, One Ayala Makati branch promises a delightful experience for customers seeking a cozy atmosphere and a diverse menu that goes beyond the traditional brown sugar milk tea. Tiger Sugar Philippines invites everyone to join in the celebration of this exciting collaboration, bringing together the distinctive flavors of Tiger Sugar and the timeless charm of Hello Kitty.

Richmonde Hotel Ortigas brings flavors of holiday bliss this Christmas

T’S the time of year when good friends are dear, so spread Christmas cheer with Richmonde Hotel Ortigas delectable baked holiday creations and savory food platters! Lovingly prepared by the hotel’s skilled kitchen team, this year’s scrumptious culinary collection is the perfect indulgent addition to this season’s at-home feasts and the ideal thoughtful gift for loved ones and business colleagues. A crowd favorite year in and year out, Richmonde’s Signature Ensaymadas are timeless bakery treats made extra big, extremely cheesy, ultra buttery, and perfectly salty & sweet. These come in classic plain (P195), ube (P225), and Alcapone (P275) flavors. Mini versions are also available for easy sharing and gifting at affordable prices starting at P275 for a box of four and P600 for a box of nine. Ever popular is Richmonde’s signature Chocolate Cake which is moist, fudgy, and decked out in holiday-themed decorations just for this season. Sold at 4” (P260), 6” (P625), and 8” (P755) sizes, this dessert will satisfy the cravings of any chocoholic. For other chocolate-flavored pastries, highly recommended are the oatmealbased Revel Bars with their chewy texture and decadent flavors (P220, box of four and P380, box of ten), and the Cruffin (P195), a giant croissant-muffin hybrid filled with chocolate that oozes out when toasted and sliced. Specialty breads make snacking more interesting and more delicious. Richmonde’s talented bakers created these choice bread options: Banana Walnut Bread (P345), Pesto Loaf (P220), Pepper Brioche (P275), and Walnut & Raisin Baguette (P180). Pair these breads with the hotel’s very own Italian butter spice (P200) and Cranberry Jalapeno Dip (P225) and enjoy more enhanced flavors. Better than just cheesecakes and cookies, Richmonde’s Cheesecake Cookie Sandwiches are what sweet dreams are made of. With scrumptious variants of red velvet, oatmeal, chocolate chip, matcha, and triple chocolate cookies with baked cheesecake filling, these distinctive desserts are available in two sizes and packed in boxes of five assorted flavors (P225/box of five 100g and P385/box of five 200g). Holiday Hampers with carefully curated goodies make a great Christmas gift that keeps on giving. With sets good for sharing, these charming boxes will surely bring joy to those who will receive them. The Hearty Hamper of Happiness can be shared with up to six people and includes pesto loaf, pepper brioche, walnut

& raisin baguette, Alcapone ensaymada, jars of Italian butter spice and cranberry jalapeño dip, a box of revel bars (four pieces) and a box of 200g of assorted cheesecake cookie sandwiches (five pieces), all for just P2,480 nett. For smaller groups, the contents of the Blissful Baked Bites hamper, priced at only P1,850 nett, can be enjoyed by up to three persons: mini pepper brioche, mini walnut & raisin baguette, mini Alcapone ensaymada, mini plain ensaymada, jars of Italian butter spice and cranberry jalapeño dip, a box of revel bars (four pieces) and a box of 100g of assorted cheesecake cookie sandwiches (five pieces). This season’s potluck parties and holiday celebrations at home call for Richmonde Café’s flavorful and filling platters of savory meals. With servings good for six to eight, these delectable takeaway feasts can be enjoyed anytime and anywhere. Choose one or choose all of these mouthwatering selections: Lasagna Roll (P2,200), Grilled Beef with mixed vegetables and peppercorn sauce (P3,600), and Grilled Salmon Steak with haricot beans and dill cream sauce (P2,900). See the display of holiday goodies at Richmonde Ortigas’ Lobby Café. You can also visit the hotel’s official Facebook page to see the complete catalogue. For hassle-free purchases, goodies are available for pickup and delivery until January 7, 2024, with advance orders and prepayment. Lead time of at least 48 hours is required and bulk orders may be arranged. For inquiries and orders, call (632) 86387777, SMS or Viber (63) 917 534 4352, email f bsup@richmondeortigas.com, or message @ Richmonde Hotel Ortigas on Facebook and Instagram.

Enjoy magical moments in the south’s biggest Christmas village

TIGER Sugar x Hello Kitty limited edition drinks

HOLIDAY hampers are filled with goodies that are great for sharing.

OREST Crests Nature Hotel and Resort recently unveiled its highly anticipated Magical Christmas event, which has been dubbed the “Biggest Christmas Village in the South.” The grand opening of the event was marked by the illumination of a magnificent Christmas tree in the heart of the village, captivating visitors with its sparkling lights and warm ambiance. The festive atmosphere was palpable as the countdown to the tree lighting began, creating a sense of anticipation among the crowd. When the lights finally illuminated the tree, cheers erupted, and the village came alive with the spirit of Christmas. The event was a delightful experience for visitors of all ages, offering a variety of entertainment and delights. Mascots and performers took to the stage, captivating the crowds with their lively acts. The village was adorned with enchanting decorations, with festive ornaments and twinkling lights adorning every corner. The dedication of the Forest Crests Nature Hotel and Resort team was evident in every

aspect of the event. Located at the boundary of Tagaytay and Batulao, they spared no effort in ensuring that guests had an unforgettable experience. Despite the challenges faced by the community, their resilience and spirit shone through as they came together to create something truly special. Ferdinand Pulia, the general manager of Forest Crest, expressed their commitment to providing a fun and memorable experience for guests. He emphasized that guest satisfaction is their top priority, especially during these challenging times brought about by the pandemic. Pulia also expressed his gratitude to customers for their trust and support, acknowledging that their success would not have been possible without their loyalty. Despite the challenges faced by the tourism sector, de Castro noted the continuous growth and development shown by stakeholders and partners. They strive to diversify tourism offerings and create unique experiences, ensuring that visitors have an unforgettable time.

World Features

www.businessmirror.com.ph • Editor: Angel R. Calso

BusinessMirror

Tuesday, December 5, 2023

Don’t ignore us: Backed by pope, poorer nations use COP28 summit to press rich world on climate By Jamey Keaten & Seth Borenstein

The Associated Press

UBAI, United Arab Emirates—Countries once colonized by empires are striking back on global warming—and they have the pope’s blessing. Leaders of developing nations jumped into Saturday’s high-level speeches at the UN climate summit to press rich industrial countries to share their knowhow to fight global warming and ease the financial burdens they face—while trumpeting their own natural resources that swallow heat-trapping carbon in the air. The 28th annual UN Conference of the Parties, or COP28, in the oil-rich United Arab Emirates, featured about 150 presidents, prime ministers, royals and other leaders who are presenting their plans to cut heat-trapping emissions and mostly seek unity with other nations to avert climate catastrophe that seemed to draw closer than ever in 2023. Injecting moral authority into the talks, Pope Francis said “the destruction of the environment is an offense against God” in a letter read on his behalf because he had to cancel plans to attend because of a lung inflammation. In the letter read by Vatican Secretary of State Cardinal Pietro Parolin, Francis noted that almost all of the world that’s “needy” is “responsible for scarcely 10 percent of toxic emissions, while the gap between the opulent few and the masses of the poor has never been so abysmal.” “The poor are the real victims of what is happening: we need think only of the plight of Indigenous peoples, deforestation, the tragedies of hunger, water and food insecurity, and forced migration,” the pope’s letter said.

Several African leaders noted their continent’s rainforests help gobble up excess carbon dioxide in the air and emphasized how their countries belch out only a tiny fraction of heat-trapping emissions compared to richer countries. Teodoro Obiang Nguema Mbasogo of Equatorial Guinea—one of sub-Saharan Africa’s biggest oil producers—faulted developed nations for failing to deliver on their pledges to meet their commitments on financing for climate action and meet their own targets to curb their industries’ emissions. President Jose Ramos Horta of Timor-Leste, next to Indonesia and north of Australia, blasted “shark loans” from multilateral lending institutions, saying developing nations cannot recover from heavy debt burdens that squelch their ability to put money into fighting climate change and grow economically. Prime Minister Mia Mottley of Barbados, the incoming head of a group of 20 climate-vulnerable nations, called for a change of attitude about access to long-term capital and put a challenge to the private sector: “We need new players at the table in terms of the insurance companies and in terms of the credit rating agencies and the bank regulators.” Conference organizers were quick to highlight what they said were early accomplishments during the two-week gathering that opened on Thursday, though environmentalists cautioned against

A MAN looks out at the Al Wasl Dome at Expo City at the COP28 UN Climate Summit on Saturday, December 2, 2023, in Dubai, United Arab Emirates. AP/RAFIQ MAQBOOL

over-billed pledges and even some of the leaders acknowledged that upbeat words would need to translate into action after the meeting is over. Adnan Amin, the CEO of the summit, said that a loss and damage fund that was formally launched on Day One had already reaped nearly $700 million and was still growing. Experts say countries need hundreds of billions to fully adapt to climate change. Secret a r y- Genera l Jaga n Chapagain of the International Federation of Red Cross and Red Crescent Societ ies e x pressed support for the fund—which is aimed mostly to help poorer countries respond to climaterelated disasters—but said it was just a “first step,” and urged strong oversight to ensure the money will get to people in need. “Availability of funds is one thing, but the flow of the funds is a different thing,” said Chapagain, noting that some money today aimed to help countries adapt to climate change doesn’t all get where it should. “Like adaptation

funding: At the moment, only 10 percent of the adaptation funding actually reaches the local communities -- only 10 percent!” “That’s the type of pitfalls we have to avoid in developing the existing mechanism for the loss and damage fund,” he said in an interview. Also Saturday, 50 oil companies—representing nearly half of global production—pledged to reach near-zero methane emissions and end routine f laring in their operations by 2030. The companies also signed up to reach “net zero” for their operational emissions by 2050. With US President Joe Biden staying home, Kamala Harris became the first vice president to lead America’s delegation since Al Gore—now a major climate activist—at COP3 in 1997. Harris said the United States is pledging $3 billion to the Green Climate Fund, which helps developing countries access capital to invest in clean energy and “naturebased solutions.” In a statement, the US Treasury said the pledge is subject to funding availability.

Harris also said the US was joining over 100 countries that have committed to double energy efficiency and triple renewable energy capacity by 2030, saying her country was on track to meet those goals because of investments like building 30 gigawatts of solar energy and laying thousands of miles of more efficient high voltage transmission lines. “ We understand the whole world will benefit from our work,” she said. “When the United States increases renewable energy production and innovation, it lowers the costs and boosts the efficiency of renewable energy technology around the globe.” Earlier Saturday, US climate envoy John Kerry joined French President Emmanuel Macron to push for development of nuclear energy, which doesn’t produce greenhouse gas emissions, even if it also presents security and waste challenges. Overall, a group of more than 20 nations called for a tripling of nuclear energy generated in the world by 2050. “I want here to reiterate the

fact that nuclear energy is a clean energy and it should be repeated,” said Macron, whose country gets around two-thirds of its electricity from nuclear power, the most of any industrialized country, and exports some of it to France’s neighbors. Kerry also announced that the US was joining the Powering Past Coal Alliance, which means the administration commits to building no new coal plants and phasing out existing ones. It’s in line with other Biden regulatory actions and international commitments in the works that had meant no coal by 2035. Whatever their perspective or national interest, leaders almost universally voiced their shared views that Earth is in crisis—with the United Nations and other environmental groups warning that the planet has recorded the nine hottest years on record over the last decade. Bolivian Vice President David Choquehuanca called for “saving Mother Earth and staving off the multiple crises which have been caused by neocolonial, capitalist, imperialist, patriarchal, Western culture.” “The climate crisis is but the latest chapter in a long history of hypocrisy and lies: The ‘Global North’ is responsible for the global imbalance that we’re seeing,” he said, using a catchall term for industrialized countries. “They seek permanent growth to the detriment of the global South.” Ger man Chancel lor Olaf Scholz said science shows that the world needs to “step up the pace” to battle climate change, but took a more upbeat tone, saying: “We have what it takes to meet these challenges. We have the technologies: wind power, photovoltaics, e-mobility, green hydrogen.” Demand for fossil fuels has slowed and the peak is “in sight,” he said. The Associated Press journalists Will Weissert and Jon Gambrell contributed.

As host of UN COP28 climate talks, autocratic UAE is now allowing in critics it once kept out By Jon Gambrell

The Associated Press

UBAI, United Arab Emirates—A s pa r t ic ipa nts at the United Nations’ COP28 climate talks filed in Sunday for another day of talks, they found themselves greeted by a rare sight in the United Arab Emirates—a protest. From activism about the Israel-Hamas war to environmental issues, activists allowed into the UAE can demonstrate under strict guidelines in this autocratic nation. Others from organizations long banned by the country also have been let in, providing them some the opportunity for the first time in about a decade to offer criticism—though many acknowledge it may see them never allowed back in the country. “One of our major issues with COP28 is the fact that the UAE government is using this to burnish its image internationally and the fact that limited protests are allowed...is a good thing,” said Joey Shea, now on her first trip to the Emirates as a researcher focused on the country at Human Rights Watch. “But at the end of the day, it helps to create this very false image that the UAE does have respect for rights when in fact it

does not.” The UAE, a federation of seven sheikhdoms led by Abu Dhabi’s ruler, bans political parties and labor unions. All power rests in each emirate’s hereditary ruler. Broad laws tightly restrict speech and nearly all major local media are either state-owned or stateaffiliated outlets. L aws a lso cr im ina l i ze t he ver y fe w protest s t h at t a ke place by foreign laborers over working conditions and unpaid salaries, which can see them get partial settlements but then be promptly deported. T he Emirates’ overall population of more than 9.2 million people is only 10 percent Emirati. The rest are expatriates, many of them low-paid laborers seeking to send money back home to their families, skewing the country’s gender balance to nearly 80 percent male. Many avoid saying anything as they see their livelihoods at risk for speaking up as their visas and residencies remain tied to their employers. However, the UN and the UAE agreed before COP28 that free expression would be allowed. Activists described a process of having to seek approvals with organizers for their demonstrations. That also appears to have extended to

The UAE, a federation of seven sheikhdoms led by Abu Dhabi’s ruler, bans political parties and labor unions. All power rests in each emirate’s hereditary ruler. Broad laws tightly restrict speech and nearly all major local media are either state-owned or state-affiliated outlets. allowing in people the Emiratis otherwise may not have. About a decade ago, as the Arab Spring protests wound down, the UAE cracked down on Islamists and dissidents in the country. It also began blocking organizations like Amnesty International and Human Rights Watch from having their staff visit the nation. They included human rights expert James Lynch, at the time working for Amnesty. He was blocked from entering the country in 2015 to talk at a conference about migrant labor. Now the co-director of an organization called FairSquare, Lynch said he sought and didn’t receive a visa to attend COP28. After Emirati officials told The Financial Times nothing blocked him from

coming, he took a nervous flight to Dubai with a copy of the article in his possession in case he was detained again at immigration. He was not and spoke to The Associated Press from the summit. “It’s obviously a good thing that the UAE is letting people in with it with a variety of voices and perspectives, including critical perspectives,” Lynch said. “But nevertheless,...it’s a nervy and sort of tense event in many ways.” Shea’s colleagues at Human Rights Watch hadn’t been in the UAE in nine years after one of their colleagues was similarly detained trying to fly into the country. However, she said she didn’t plan to work outside of the UN-administer Blue Zone for her safety and those speaking with her.

“From the moment that COP28 participants landed in Dubai, they were faced with thousands of security cameras, CCTV everywhere in public spaces, inside of buildings,” Shea said. “You were effectively tracked from the moment that you stepped down in this country, in addition to mass surveillance” through suspected cases of authorities hacking mobile phones. Early Sunday, a dozen demonstrators held up a sign calling for a cease-fire in the Israel-Hamas war, some reading a long list of Palestinian children’s names and their ages who had been killed in the Gaza Strip. Israeli security personnel from a pavilion on site briefly argued over the protest with United Nations police on hand guarding the Blue Zone, an area overseen by the U.N. where the negotiations take place. Criticism of Israel ’s conduct in the war has peppered much of the summit from world leaders, as well as activists who can be seen through the site wearing the traditional checkered keffiyeh, or scarf, associated with the Palestinians. Babawale Obayanju, an activist with the Global Campaign to Demand Climate Justice from Benin City, Nigeria, taking part

in Sunday’s protest, told the AP that it was important to highlight the killing of civilians in the Gaza Strip as “it’s time for the world to take action” on that and the environment. “Every opportunity we have, every arena of this struggle is one that we must embrace,” Obayaju said. “And the COP is in that arena of struggle.” At the demonstration, one passer-by briefly unfurled a Palestinian flag before those leading the protest asked him to put it away. U.N. rules bar the use of national flags in demonstrations. And unlike some other COP summits, there haven’t been marches of tens of thousands of people outside the venue. For Alice McGown, a Los Angeles-based activist, that meant dressing in a dugong outfit, holding a sign saying: “No More Fossils.” But while looking cartoonish, McGow n offered ser ious criticism of the Abu Dhabi National Oil Co.’s plans to expand its offshore ultrasour gas operations into a protected area home to the dugong. “It’s a little risky,” she said, as gawking onlookers stopped to photograph her. “Civil society does not have much of a place to speak out against these actions.”

Boylen: It’s an unbelievable honor

IAMI—Jim Boylen wasn’t at the World Cup this summer in the Philippines. He just made sure that USA Basketball got there. And his efforts weren’t unnoticed. Boylen, an assistant coach with the Indiana Pacers, has been selected as USA Basketball’s coach of the year for his work leading the men’s World Cup qualifying teams—groups of primarily G League players who were selected to play in two-game windows. The Americans went 9-3 in those six qualifying windows, with Boylen coaching essentially six different teams between November 2021 and last February. “I get this award, this recognition, but I wasn’t the only guy in the trenches, you know,” Boylen said in an interview this weekend about the award. “And that’s what I thought about when I heard about this. It was an unbelievable honor. I’m so thankful, I’m so grateful, all those things. But it was a lot of people involved with this.” Boylen had 52 different players and seven different assistant coaches over the span of the qualifying tournament. Those groups did their job—they got the US into the World Cup where the Americans were fourth in Manila this summer, a high enough finish to ensure that USA Basketball had qualified for the upcoming Paris Olympics and the right to chase a fifth consecutive gold medal. “What he accomplished with those groups of players was truly remarkable,” Pacers coach Rick Carlisle said. “It’s an honor that’s very, very well-deserved. He’s a trusted friend of USA Basketball and

a valuable advisor. And we’re very fortunate to have him on our staff.” The Pacers brought Boylen—the former head coach at the University of Utah and of the Chicago Bulls— into their organization last season as a consultant and allowed him to finish his USA Basketball commitment even though that meant he needed some time away from Indiana. He was promoted to an assistant coach before this season. Boylen and Carlisle go back decades—Carlisle began his college playing career at Maine, where Boylen would later enroll. Carlisle finished his college career at Virginia. “His passion for the game is legendary,” Carlisle said. AP

Sports BusinessMirror

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uesday, December 5, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

THE champions and podium finishers with (front from left) Philippine Olympic Committee secretary-general Atty. Wharton Chan, Philippine Sports Commission chairman Richard Bachmann, Ayala Land vice president May Rodriguez, Santa Rosa City Mayor Arlene Arcillas and Philippine National Volleyball Federation president Ramon “Tats” Suzara.

Austrian pair bags men’s beach volley gold medal Karl Eldrew adds glitter to Yulos by snatching 4 golds in Bangkok A K

By Josef Ramos

ARL ELDREW YULO is making his world champion and Olympian brother Carlos Yulo proud after he bagged four gold medals at the JRC Stars Artistic Gymnastics Championships at the Island Hall in Bangkok over the weekend. Karl Eldrew, 15, ruled the parallel bars, vault, floor exercise and rings and also clinched silver in the allaround event and bronze in pommel horse in the competition that drew gymnasts from host Thailand, Singapore and Malaysia. Yulo dominated the floor exercise with 13.100 points with Singapore’s Jia Le Jovi Loh (12.400) and Asher Pua (12.000) getting silver and bronze, respectively. He ruled the rings with 12.450 pointsm shoving JRC A’s Fuga Nomura and Loh to a share of the silver medal with similar 12.400 scores. Yulo got gold in vault with 13.650 points while Malaysia’s Nor Adam Asha claimed silver with 12.775 and JRC A’s Sittichok Phimthong bagged bronze with 12.675. In the parallel bars, Yulo and Singapore’s Loh tied for the gold on 13.100 scores, while Wilson Yeoh Wei Sin of Malaysia settled for the bronze with 12.200. Yulo’s younger sister Elaiza Andreil, 14, got silver in vault. Karl Eldrew was a silver medalist in the last Asian artistic championships junior category in Singapore last June, while sweeping six gold medals at the Palarong Pambansa last August in Marikina City. There are four Yulo siblings and all are into gymnastics—the eldest Jorielgel, 25, has retired from competition but is now

By Rick Olivares

T was another disappointing loss for promising FilipinoAmerican mixed martial artist Punahele Soriano. The Hawaii-born Soriano with full Filipino roots peppered Dustin Stoltzfus in the main card opener of UFC Fight Night Sunday at the Moody Center in Austin, Texas, but couldn’t land any lethal combinations. Soriano was winning the exchange of strikes, but Stoltzfus mixed his attacks with kicks and takedowns that the FilipinoAmerican couldn’t parry— Stoltzfus was a Division III All-

PACERS assistant coach Jim Boylen thankful for USA Basketball coach of year award. AP

a coach at Club Gymnastica in Makati City and judge. “They practiced their routines a lot before the competition,” Gymnastics Association of the Philippines trainer coach Reylan Capellan told BusinessMirror on Monday. “Their performances will be part of the evaluation for next year’s Asian championships.”

USTRIA’S Robin Seidl and Moritz Pristauz drubbed Australia’s Thomas Hodges and Zachery Schubert, 21-18, 21-16, to rule the men’s division of the Volleyball World Beach Pro Tour Challenge on Sunday night at the world-class Nuvali Sand Courts in Santa Rosa City. The world No. 27 Austrian pair capped an amazing run with only a single set yielded through six games to hoist the trophy heading into the grand finals next week in Doha, Qatar. Pristauz fired 15 points on seven hits, six blocks and two aces while Seidl uncorked 13 points on 12 attacks and a block as the Austrians annexed their third medal in the Pro Tour. The Austrian tandem finished with a bronze medal in the La Paz Challenge in Mexico and topped the Goa Challenge in India before

trooping to Santa Rosa, Laguna for the biggest beach volleyball event ever hosted by the Philippines behind the leadership of Philippine National Volleyball Federation president Ramon “Tats” Suzara. Seidl and Pristauz absorbed their lone set defeat against the world No. 37 duo of Joao Pedrosa and Hugo Campos of Portugal in the quarterfinals, 15-21, 21-17-, 15-10. Since then, the fancied Austrian bets were not to be denied in their march to the throne by making short work of world No. 44 Javier and Joaquin Bello, 21-13, 22-20, of England, in the semifinals. World No. 13 Hodges and Schubert hammered 16 and 11 points, respectively, in a silver-medal finish after besting world No. 11 Patrikas Stankevicius and Audrius Knasas of Lithuania, 21-16, 19-21, 15-13. Stankevicius and Knasas then beat the Bello brothers, 23-21, 17-21, 15-10, in the bronze-medal match

to complete the men’s podium of the top-tier Nuvali beach joust supported by gold sponsors Ayala Land, Mikasa, Senoh, Philippine Sports Commission, Pinay In Action and Smart as gold sponsors and PLDT, Gatorade, Maynilad, Rebisco, Ayala Malls, Department of Tourism, CBPI, Club Laiya, Foton as bronze sponsors. Earlier in the women’s tourney, world No. 14 Anastasija Samoilova and Tina Graudina of Latvia emerged as champions after a 21-14, 2118 win over world No. 21 Daniela Alvarez Mendoza and Tania Moreno Matveeva of Spain. The Brazilian tandem of Taina Silvi Bigi and Victoria Lopes Pereira Tosta, world No. 13, then clinched the bronze with a 21-17, 21-14 win over world No. 20 Lezana Placette and Alexia Richard of France. Graudina and Samoilova showed how tenacious their seven-year partnership have become in their victory over their Spanish rivals.

Ranked world No. 14, the Latvians were a crowd favorite at the newlybuilt world-class courts in Nuvali, with Graudina drawing symphatic attention—she played Sunday’s semifinal and final with a small bandage protecting a half-centimeter wound just above her right eyelid. The Latvians beat world No. 18 Terese Cannon and Megan Kraft of the United States in the quarterfinals, 21-19, 21-18, before fending off the powerhouse pair of Taina Silvi Bigi and Victoria Lopes Pereira Tosta, world No. 13, from Brazil, in the semifinals, 21-18, 21-17. The tandem of Mendoza and Moreno defeated world No. 24 Taravadee Naraphornrapat and Worapeerachayakorn Kongphopsarutawadee of Thailand, 21-15, 21-16, in the quarterfinals. The Spanish bets then escaped past the world No. 20 French pair of Placette and Richard in the semifinals, 21-19, 21-8.

Magsayo debuts at 130 lbs vs Mexican

ORMER World Boxing Council (WBC) featherweight champion Mark “Magnifico” Magsayo opens a new chapter in his career as he debuts as a super featherweight against Mexico’s Isaac Avelar in a non-title fight on Saturday in Caliornia. The 28-year-old Magsayo decided to move up in weight after losing twice in a row at 126 lbs. “I’m coming into this fight having fought some of the best fighters in boxing. My last three fights were all at the world class level,” said Magsayo, referring to his last bouts against Gary Russell Jr., Rey Vargas and Brandon Figueroa. His fight is set at the Infinite Reality Studios in Long Beach. “A victory will bring me notoriety at 130 pounds, where I feel I can become a two-division world champion,” he said. “So, this fight is very important in my career and I’m going to come out victorious.” MP Promotions president Sean Gibbons said he fight gives Magsayo

KARL ELDREW YULO warms up with younger sister Iza.

(24-2 win- loss record with 16 knockouts) a better chance to be a world title contender next year. “This is his first fight at 130 lbs, this is the start for his road back to put himself back in title contention,” Gibbons said. Magsayo earned his first ever world title after scoring a majority decision win over Russell Jr. in February 2022, but his reign didn’t last long. Gibbons reminds Magsayo to give his best in this fight to recover from his previous split decision loss to Vargas in his first title defense in July last year and a unanimous decision setback to Figueroa. “Fights like this are ‘there’s no tomorrow,’ you’ve got to win,” Gibbons said. “I think the second half if he wins this fight is going to be great. Maybe there’s going to be a title eliminator next year before a potential world title bout.” The 26-year-old Avelar (17-6 record with 10 knockouts) is a tough fighter who is also trying to make a name for himself. Josef Ramos

Fil-Am Soriano loses to Stoltzfus in UFC Fight Night American in wrestling. A Stoltzfus takedown and a strong left decked Soriano in the final second of the first round to give the German-American the confidence and the edge with his sheer volume of shots. The knockdown swung to Stoltzfus’s favor with judges Gino Garcia and Patrick Patlan giving it 10-9 to the German-American with only Mike Beltran giving the nod to Soriano, 10-9. Round two saw much different body language for both fighters as

Soriano was clearly shaken by the knockdown and Stoltzfus grew in confidence—two takedowns saw Stoltzfus take the starch out of Soriano. Slipping the rear-naked choke, Soriano had no choice but to tap out at the 4:10 mark. Soriano won his first two fights when he first arrived in the UFC after coming out of Dana White’s Contender Series. This loss—the fourth in his last five matches—clearly placed Soriano in the dire straits that Stoltzfus found himself coming into this fight.

Stoltzfus had lost four of five matches and desperately needed a win to keep his UFC career alive. Stoltzfus climbed to 16-5 and was awarded Performance of the Night and the $50,000 bonus. Soriano dropped to 9-4. The penultimate UFC event for 2023 is set Sunday with Song Yadong taking on Chris Gutierrez in the main event. It will be televised live in the Philippines via the Premier Sports Channel on Skycable and Cignal as well as the Blast TV streaming application.

PUNAHELE SORIANO drops to 9-4 won-lost.

DUREMDES

AMIT

Amit, Duremdes PSA Forum guests

WO-TIME world 10-ball champion Rubilen Amit graces the Philippine Sportswriters Association (PSA) Forum on Tuesday to talk about the pool tournament named after her at the Rizal Memorial Sports Complex Conference Hall. The multi-titled pool champion will discuss Season 2 Leg 3 of the Amit Cup together with co-founder Ren De Vera and Intermediate winner Shane Lui Mongcal. Also guesting in the 10:30 a.m. session is Maharlika Pilipinas Basketball League Commissioner Kenneth Duremdes along with newlycrowned national champion Pampanga Lanterns. The public sports program is presented by San Miguel Corp., Philippine Sports Commission, Milo, Philippine Olympic Committee and the Philippine Amusement and Gaming Corp. The Forum is livestreamed via the PSA Facebook page f b.com/PhilippineSportswritersAssociation and aired on a delayed basis over Radyo Pilipinas 2, which also shares it on its official Facebook page.